Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Jul. 31, 2015 | |
Document Information [Line Items] | ||
Entity Registrant Name | FIRST DEFIANCE FINANCIAL CORP | |
Entity Central Index Key | 946,647 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | FDEF | |
Entity Common Stock, Shares Outstanding | 9,277,113 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Financial Condition - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Cash and cash equivalents: | ||
Cash and amounts due from depository institutions | $ 33,586 | $ 41,936 |
Federal funds sold | 32,000 | 71,000 |
Cash and cash equivalents at beginning of year | 65,586 | 112,936 |
Securities: | ||
Available-for-sale, carried at fair value | 237,012 | 239,321 |
Held-to-maturity, carried at amortized cost (fair value $261 and $308 at June 30, 2015 and December 31, 2014, respectively) | 257 | 313 |
Marketable Securities, Total | 237,269 | 239,634 |
Loans held for sale | 9,793 | 4,535 |
Loans receivable, net of allowance of $25,384 at June 30, 2015 and $24,766 at December 31, 2014, respectively | 1,680,332 | 1,622,020 |
Accrued interest receivable | 6,204 | 6,037 |
Federal Home Loan Bank stock | 13,802 | 13,802 |
Bank owned life insurance | 51,433 | 47,013 |
Premises and equipment | 39,393 | 40,496 |
Real estate and other assets held for sale | 5,371 | 6,181 |
Goodwill | 61,525 | 61,525 |
Core deposit and other intangibles | 2,016 | 2,395 |
Mortgage servicing rights | 9,128 | 9,012 |
Deferred taxes | 69 | 0 |
Other assets | 14,589 | 13,366 |
Total assets | 2,196,510 | 2,178,952 |
Liabilities: | ||
Deposits | 1,763,390 | 1,760,813 |
Advances from the Federal Home Loan Bank | 41,050 | 21,544 |
Subordinated debentures | 36,083 | 36,083 |
Securities sold under repurchase agreements | 54,237 | 54,759 |
Advance payments by borrowers | 2,492 | 2,309 |
Deferred taxes | 0 | 1,176 |
Other liabilities | 23,230 | 22,763 |
Total liabilities | 1,920,482 | 1,899,447 |
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; 12,722,469 and 12,735,313 shares issued and 9,275,183 and 9,234,534 shares outstanding, respectively | 127 | 127 |
Common stock warrant | 0 | 878 |
Additional paid-in capital | 125,231 | 136,266 |
Accumulated other comprehensive income, net of tax of $1,397 and $2,214, respectively | 2,594 | 4,114 |
Retained earnings | 210,169 | 200,600 |
Treasury stock, at cost, 3,447,286 and 3,500,779 shares respectively | (62,093) | (62,480) |
Total stockholders’ equity | 276,028 | 279,505 |
Total liabilities and stockholders’ equity | $ 2,196,510 | $ 2,178,952 |
Consolidated Condensed Stateme3
Consolidated Condensed Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Held-to-maturity, fair value (in dollars) | [1] | $ 261 | $ 308 |
Loans receivable, allowance (in dollars) | $ 25,384 | $ 24,766 | |
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 | 12,722,469 | 12,735,313 | |
Common stock, shares outstanding | 9,275,183 | 9,234,534 | |
Accumulated other comprehensive income, tax effect (in dollars) | $ 1,397 | $ 2,214 | |
Treasury stock, shares | 3,447,286 | 3,500,779 | |
Preferred Stock [Member] | |||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Preferred stock, shares authorized | 4,963,000 | 4,963,000 | |
Preferred stock, shares issued | 0 | 0 | |
Cumulative Preferred Stock [Member] | |||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | |
Preferred stock, shares authorized | 37,000 | 37,000 | |
Preferred stock, shares issued | 0 | 0 | |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Consolidated Condensed Stateme4
Consolidated Condensed Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest Income | ||||
Loans | $ 18,139 | $ 16,878 | $ 36,026 | $ 33,529 |
Investment securities: | ||||
Taxable | 918 | 852 | 1,832 | 1,627 |
Non-taxable | 803 | 756 | 1,581 | 1,508 |
Interest-bearing deposits | 41 | 118 | 80 | 219 |
FHLB stock dividends | 136 | 170 | 275 | 365 |
Total interest income | 20,037 | 18,774 | 39,794 | 37,248 |
Interest Expense | ||||
Deposits | 1,312 | 1,327 | 2,584 | 2,685 |
FHLB advances and other | 173 | 133 | 283 | 266 |
Subordinated debentures | 150 | 146 | 297 | 292 |
Notes payable | 37 | 39 | 75 | 80 |
Total interest expense | 1,672 | 1,645 | 3,239 | 3,323 |
Net interest income | 18,365 | 17,129 | 36,555 | 33,925 |
Provision for loan losses | 0 | 446 | 120 | 549 |
Net interest income after provision for loan losses | 18,365 | 16,683 | 36,435 | 33,376 |
Non-interest Income | ||||
Service fees and other charges | 2,690 | 2,508 | 5,219 | 4,832 |
Insurance commissions | 2,344 | 2,244 | 5,483 | 5,274 |
Mortgage banking income | 1,793 | 1,540 | 3,568 | 2,787 |
Gain on sale of non-mortgage loans | 197 | 36 | 233 | 39 |
Gain on sale or call of securities | 0 | 471 | 0 | 471 |
Trust income | 367 | 302 | 725 | 580 |
Income from Bank Owned Life Insurance | 212 | 235 | 420 | 454 |
Other non-interest income | 206 | 281 | 443 | 506 |
Total non-interest income | 7,809 | 7,617 | 16,091 | 14,943 |
Non-interest Expense | ||||
Compensation and benefits | 9,182 | 8,709 | 18,105 | 17,181 |
Occupancy | 1,809 | 1,704 | 3,573 | 3,292 |
FDIC insurance premium | 319 | 353 | 670 | 738 |
Financial institutions tax | 411 | 514 | 893 | 1,009 |
Data processing | 1,599 | 1,479 | 3,121 | 2,844 |
Amortization of intangibles | 162 | 274 | 379 | 563 |
Other non-interest expense | 3,314 | 3,324 | 6,953 | 7,391 |
Total non-interest expense | 16,796 | 16,357 | 33,694 | 33,018 |
Income before income taxes | 9,378 | 7,943 | 18,832 | 15,301 |
Federal income taxes | 2,815 | 2,254 | 5,668 | 4,433 |
Net Income | $ 6,563 | $ 5,689 | $ 13,164 | $ 10,868 |
Earnings per common share (Note 6) | ||||
Basic (in dollars per share) | $ 0.71 | $ 0.59 | $ 1.42 | $ 1.13 |
Diluted (in dollars per share) | 0.7 | 0.57 | 1.39 | 1.08 |
Dividends declared per share (Note 5) (in dollars per share) | $ 0.2 | $ 0.15 | $ 0.375 | $ 0.30 |
Average common shares outstanding (Note 6) | ||||
Basic | 9,268 | 9,607 | 9,251 | 9,644 |
Diluted | 9,349 | 10,066 | 9,483 | 10,096 |
Consolidated Condensed Stateme5
Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Net income | $ 6,563 | $ 5,689 | $ 13,164 | $ 10,868 | |
Other comprehensive income (loss): | |||||
Unrealized gains (losses) on securities available for sale | (3,839) | 2,743 | (2,337) | 4,465 | |
Reclassification adjustment for security gains (losses) included in net income(1) | [1] | 0 | (471) | 0 | (471) |
Income tax benefit (expense) | 1,344 | (795) | 817 | (1,397) | |
Other comprehensive income (loss) | (2,495) | 1,477 | (1,520) | 2,597 | |
Comprehensive income | $ 4,068 | $ 7,166 | $ 11,644 | $ 13,465 | |
[1] | Amounts are included in gains on sale or call of securities on the Consolidated Condensed Statements of Income. Income tax expense associated with the reclassification adjustments, included in federal income taxes, for the three months ended June 30, 2015 and 2014 was $0 and $141, respectively. Income tax expense associated with the reclassification adjustments, included in federal income taxes, for the six months ended June 30, 2015 and 2014 was $0 and $141, respectively. |
Consolidated Condensed Stateme6
Consolidated Condensed Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Condensed Statement of Income Captions [Line Items] | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 0 | $ 141 | $ 0 | $ 141 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands | 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] |
Balance at Dec. 31, 2013 | $ 272,147 | $ 878 | $ 136,403 | $ 545 | $ 182,290 | $ (48,096) | ||
Balance (in shares) at Dec. 31, 2013 | 0 | 127 | ||||||
Net income | 10,868 | 10,868 | ||||||
Other comprehensive income | 2,597 | 2,597 | ||||||
Stock option expense | 34 | 34 | ||||||
Shares issued under stock option plan | 433 | 18 | (23) | 438 | ||||
Restricted share activity under stock incentive plans | (130) | (342) | 212 | |||||
Shares issued direct purchases | 64 | 26 | 38 | |||||
shares repurchased | (6,675) | (6,675) | ||||||
Common stock dividends declared | (2,889) | (2,889) | ||||||
Balance at Jun. 30, 2014 | 276,449 | 878 | 136,139 | 3,142 | 190,246 | (54,083) | ||
Balance (in shares) at Jun. 30, 2014 | 0 | 127 | ||||||
Balance at Dec. 31, 2014 | 279,505 | 878 | 136,266 | 4,114 | 200,600 | (62,480) | ||
Balance (in shares) at Dec. 31, 2014 | 0 | 127 | ||||||
Net income | 13,164 | 13,164 | ||||||
Other comprehensive income | (1,520) | (1,520) | ||||||
Stock option expense | 59 | 59 | ||||||
Warrant repurchase | (11,979) | (878) | (11,101) | |||||
Shares issued under stock option plan | 1,261 | 213 | (312) | 1,360 | ||||
Restricted share activity under stock incentive plans | 232 | (223) | 185 | 270 | ||||
Shares issued direct purchases | 38 | 17 | 21 | |||||
shares repurchased | (1,264) | (1,264) | ||||||
Common stock dividends declared | (3,468) | (3,468) | ||||||
Balance at Jun. 30, 2015 | $ 276,028 | $ 0 | $ 125,231 | $ 2,594 | $ 210,169 | $ (62,093) | ||
Balance (in shares) at Jun. 30, 2015 | 0 | 127 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Shares issued under stock option plan (in shares) | 65,206 | 26,900 |
Stock Based Compensation Income Tax Benefit | $ 659 | $ 58 |
Stock Repurchased and Retired (in shares) | 12,844 | |
Restricted share activity under Stock Incentive Plans (in shares) | 15,006 | 13,087 |
Shares issued direct purchases (in shares) | 1,090 | 2,352 |
shares repurchased | 37,857 | 247,269 |
Consolidated Condensed Stateme9
Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Operating Activities | ||
Net income | $ 13,164 | $ 10,868 |
Items not requiring (providing) cash | ||
Provision for loan losses | 120 | 549 |
Depreciation | 1,624 | 1,462 |
Amortization of mortgage servicing rights, net of impairment recoveries | 690 | 623 |
Amortization of core deposit and other intangible assets | 379 | 563 |
Net amortization of premiums and discounts on loans and deposits | 231 | 295 |
Amortization of premiums and discounts on securities | 376 | 156 |
Loss on write-downs of property, plant and equipment | 426 | 0 |
Change in deferred taxes | (428) | (218) |
Proceeds from sale of loans held for sale | 108,174 | 69,421 |
Origination of loans held for sale | (111,707) | (67,695) |
Gain from sale of loans | (2,764) | (1,667) |
Gain from sale or call of securities | 0 | (471) |
Loss on sale or write-down of real estate and other assets held for sale | 259 | 3 |
Stock option expense | 59 | 34 |
Restricted stock expense (benefit) | 232 | (130) |
Income from bank owned life insurance | (420) | (454) |
Changes in: | ||
Accrued interest receivable | (167) | 48 |
Other assets | (1,223) | (5,094) |
Other liabilities | 467 | 3,190 |
Net cash provided by (used in) operating activities | 9,492 | 11,483 |
Investing Activities | ||
Proceeds from maturities of held-to-maturity securities | 55 | 56 |
Proceeds from maturities, calls and pay-downs of available-for-sale securities | 15,648 | 9,958 |
Proceeds from sale of real estate and other assets held for sale | 1,690 | 1,295 |
Proceeds from the sale of available-for-sale securities | 0 | 3,782 |
Proceeds from sale of non-mortgage loans | 501 | 10,584 |
Purchases of available-for-sale securities | (16,051) | (43,550) |
Proceeds from Federal Home Loan stock redemption | 0 | 5,548 |
Purchase of bank-owned life insurance | (4,000) | (4,000) |
Purchase of portfolio mortgage loans | 0 | (5,118) |
Purchases of premises and equipment, net | (1,214) | (2,335) |
Net increase in loans receivable | (59,803) | (7,945) |
Net cash used in investing activities | (63,174) | (31,725) |
Financing Activities | ||
Net increase (decrease) in deposits and advance payments by borrowers | 2,760 | 6,187 |
Repayment of Federal Home Loan Bank advances | (7,494) | (486) |
Increase in Federal Home Loan Bank advances | 27,000 | 0 |
Increase (decrease) in securities sold under repurchase agreements | (522) | 536 |
Repayment of warrants | (11,979) | 0 |
Proceeds from exercise of stock options | 1,261 | 433 |
Proceeds from treasury stock sales | 38 | 64 |
Cash dividends paid on common stock | (3,468) | (2,889) |
Net cash paid for repurchase of common stock | (1,264) | (6,675) |
Net cash provided by (used in) financing activities | 6,332 | (2,830) |
Increase (decrease) in cash and cash equivalents | (47,350) | (23,072) |
Cash and cash equivalents at beginning of period | 112,936 | 179,318 |
Cash and cash equivalents at end of period | 65,586 | 156,246 |
Supplemental cash flow information: | ||
Interest paid | 3,218 | 3,310 |
Income taxes paid | 5,200 | 3,650 |
Transfers from loans to real estate and other assets held for sale | $ 872 | $ 993 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
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, non-residential real estate, commercial, home improvement and home equity 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, group health and life insurance products. First Defiance Risk Management is 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. First Defiance Risk Management pools resources with several other similar insurance company subsidiaries of financial institutions to spread a limited amount of risk among themselves. The consolidated condensed statement of financial condition at December 31, 2014 has been derived from the audited financial statements at that date, which were included in First Defiance’s Annual Report on Form 10-K. The accompanying consolidated condensed financial statements as of June 30, 2015 and for the three and six month periods ended June 30, 2015 and 2014 have been prepared by First Defiance without audit and do not include information or footnotes necessary for the complete presentation of financial condition, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States. These consolidated condensed financial statements should be read in conjunction with the financial statements and notes thereto included in First Defiance's 2014 Annual Report on Form 10-K for the year ended December 31, 2014. However, in the opinion of management, all adjustments, consisting of only normal recurring items, necessary for the fair presentation of the financial statements have been made. The results for the three and six month periods ended June 30, 2015 are not necessarily indicative of the results that may be expected for the entire year. |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 2. Significant Accounting Policies 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. Beginning June 30, 2015, the Company refined the methodology to its allowance for loan loss calculation pertaining to the general reserve component for non-impaired loans. There was no change to the calculation of the component for reserves on impaired loans. Within the general reserve, the determination of the historical loss component was modified from using a three-year average annual loss rate to a loss migration measurement. The loss migration measurement implemented June 30, 2015, utilizes an average of four (4) four-year loss migration periods for each loan portfolio segment with differentiation between loan risk grades. This approach provides for a more precise reflection of probable incurred losses by risk grade within each loan portfolio segment over an average loan life cycle. Management believes that capturing the risk grade changes and cumulative losses over the life cycle of a loan more accurately depicts management’s estimate of historical losses as well as being more reflective of the ongoing risks in the loan portfolio, thereby requiring less weight to the subjective components of the allowance for loan losses. Prior to June 30, 2015, the approach to this component quantified the historical loss by calculating a rolling twelve quarter average annual loss rate for each portfolio segment, without differentiation between loan risk grades. This modification resulted in a change of the general reserves between the loan portfolio segments but did not have a material impact on the overall allowance for loan losses. Basic earnings per common share is computed by dividing net income 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. In June 2014, the FASB issued ASU No. 2014-11, "Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures." In January 2014, the FASB issued ASU No. 2014-01, "Accounting for Investments in Qualified Affordable Housing Projects." In January 2014, the FASB issued ASU No. 2014-04, “ Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure Receivables - Troubled Debt Restructurings by Creditors,” |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | 3. 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 ⋅ Level 2 ⋅ Level 3 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 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 Mortgage banking derivative Assets and Liabilities Measured on a Recurring Basis June 30, 2015 Level 1 Level 2 Level 3 Total Fair (In Thousands) Available for sale securities: Obligations of U.S. government corporations and agencies $ - $ 2,982 $ - $ 2,982 Mortgage-backed - residential - 59,713 - 59,713 REMICs - 1,751 - 1,751 Collateralized mortgage obligations - 77,287 - 77,287 Preferred stock 1 - - 1 Corporate bonds 1,995 3,998 - 5,993 Obligations of state and political subdivisions - 89,285 - 89,285 Mortgage banking derivative - asset - 732 - 732 Mortgage banking derivative - liability - - - - December 31, 2014 Level 1 Level 2 Level 3 Total Fair (In Thousands) Available for sale securities: Obligations of U.S. Government corporations and agencies $ - $ 980 $ - $ 980 Mortgage-backed - residential - 59,856 - 59,856 REMICs - 1,839 - 1,839 Collateralized mortgage obligations - 81,121 - 81,121 Preferred stock 1 - - 1 Corporate bonds 1,989 5,003 - 6,992 Obligations of state and political subdivisions - 88,532 88,532 Mortgage banking derivative - asset - 351 - 351 Mortgage banking derivative - liability - 24 - 24 There were no assets measured at fair value on a recurring basis using Level 3 inputs for the six months ended June 30, 2015. Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Beginning balance, January 1, 2014 $ 582 Total gains or (losses) (realized/unrealized) Included in earnings (realized) (329) Included in other comprehensive income (presented gross of taxes) 993 Amortization - Sales (1,246) Transfers in and/or out of Level 3 - Ending balance, June 30, 2014 $ - Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Beginning balance, April 1, 2014 $ 704 Total gains or (losses) (realized/unrealized) Included in earnings (realized) (329) Included in other comprehensive income (presented gross of taxes) 871 Amortization - Sales (1,246) Transfers in and/or out of Level 3 - Ending balance, June 30, 2014 $ - 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: June 30, 2015 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair (In Thousands) Impaired loans 1-4 Family Residential Real Estate $ - $ - $ 408 $ 408 Multi Family Residential - - 107 107 Commercial Real Estate - - 5,304 5,304 Commercial loans - - 61 61 Home Equity and Improvement - - 95 95 Total Impaired loans - - 5,975 5,975 Mortgage servicing rights - 954 - 954 Real estate held for sale Residential - - 66 66 CRE - - 342 342 Total real estate held for sale - - 408 408 December 31, 2014 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair (In Thousands) Impaired loans 1-4 Family Residential Real Estate $ - $ - $ 419 $ 419 Multi Family Residential - - 269 269 Commercial Real Estate - - 6,665 6,665 Commercial - - 340 340 Home Equity and Improvement - - 98 98 Total impaired loans - - 7,791 7,791 Mortgage servicing rights - 1,034 - 1,034 Real estate held for sale Residential - - - - CRE - - 739 739 Total real estate held for sale - - 739 739 Fair Valuation Technique Unobservable Inputs Range of Weighted (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 5,975 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10-30 % 11% Real estate held for sale Applies to all classes $ 408 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 20-30 % 27% For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2014, the significant unobservable inputs used in the fair value measurements were as follows: Fair Valuation Technique Unobservable Inputs Range of Weighted (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 7,791 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10-30 % 11% Real estate held for sale Applies to all classes $ 739 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 20-40 % 28% Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a fair value of $ 6.0 12,000 7.8 19,000 98,000 719,000 725,000 1.5 Mortgage servicing rights which are carried at the lower of cost or fair value had a fair value of $ 954,000 743,000 1.0 911,000 141,000 167,000 44,000 37,000 Real estate held for sale is determined using Level 3 inputs which include appraisals and are adjusted for estimated costs to sell. The change in fair value of real estate held for sale and fixed assets transferred to real estate held for sale was $ 182,000 705,000 73,000 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 March 31, 2015 and December 31, 2014. 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 of 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. Fair Value Measurements at June 30, 2015 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 65,586 $ 65,586 $ 65,586 $ - $ - Investment securities 237,269 237,273 1,996 235,277 - Federal Home Loan Bank Stock 13,802 N/A N/A N/A N/A Loans, net, including loans held for sale 1,690,125 1,699,398 - 10,216 1,689,182 Accrued interest receivable 6,204 6,204 - 860 5,344 Financial Liabilities: Deposits $ 1,763,390 $ 1,766,560 $ 378,970 $ 1,387,590 $ - Advances from Federal Home Loan Bank 41,050 41,209 - 41,209 - Securities sold under repurchase agreements 54,237 54,237 - 54,237 - Subordinated debentures 36,083 35,318 - - 35,318 Fair Value Measurements at December 31, 2014 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 112,936 $ 112,936 $ 112,936 $ - $ - Investment securities 239,634 239,629 1,990 237,639 - Federal Home Loan Bank Stock 13,802 N/A N/A N/A N/A Loans, net, including loans held for sale 1,626,555 1,632,507 - 4,741 1,627,766 Accrued interest receivable 6,037 6,037 3 846 5,188 Financial Liabilities: Deposits $ 1,760,813 $ 1,762,733 $ 379,552 $ 1,383,181 $ - Advances from Federal Home Loan Bank 21,544 21,772 - 21,772 - Securities sold under repurchase agreements 54,759 54,759 - 54,759 - Subordinated debentures 36,083 35,307 - - 35,307 |
Stock Compensation Plans
Stock Compensation Plans | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 4. 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 replaced all pre-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 As of June 30, 2015, 96,820 20 40 20 In 2014, the Company approved a 2014 Short-Term (“STIP”) Equity Incentive Plan and a 2014 Long-Term (“LTIP”) Equity Incentive Plan for selected members of management. Under the 2014 STIP, the participants may earn up to 30 45 The final amount of benefits under the 2014 STIP were determined as of December 31, 2014 and paid out in cash in the first quarter of 2015. Under the 2014 LTIP, the participants may earn up to 20 45 30,538 The amount of benefit under the 2014 LTIP will be determined individually at the end of the 36 month performance period ending December 31, 2016. The awards will vest at the end of the performance period ending December 31, 2016. The benefits earned under the 2014 LTIP will be paid out in equity in the first quarter of 2017. The participants are required to be employed on the day of payout in order to receive such payment. In 2015, the Company approved a 2015 STIP and a 2015 LTIP for selected members of management. Under the 2015 STIP, the participants may earn up to 30 45 Under the 2015 LTIP, the participants may earn up to 20 45 24,757 The amount of benefit under the 2015 LTIP will be determined individually at the end of the 36 month performance period ending December 31, 2017. The awards will vest at the end of the performance period ending December 31, 2017. The benefits earned under the 2015 LTIP will be paid out in equity in the first quarter of 2018. The participants are required to be employed on the day of payout in order to receive such payment. In the second quarter of 2015, the Company granted 2,160 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 stock. 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. Six Months ended June 30, 2015 June 30, 2014 Expected average risk-free rate 2.04 % 1.64 % Expected average life 10.00 years 7.44 years Expected volatility 42.00 % 44.62 % Expected dividend yield 2.10 % 2.17 % The weighted-average fair value of options granted was $ 13.13 11.25 Stock options Options Weighted Weighted Aggregate Options outstanding, January 1, 2015 173,720 $ 20.80 Forfeited or cancelled (5,100) 25.36 Exercised (78,050) 22.01 Granted 6,250 32.94 Options outstanding, June 30, 2015 96,820 $ 20.37 3.72 $ 1,661 Vested or expected to vest at June 30, 2015 96,820 $ 20.37 3.72 $ 1,661 Exercisable at June 30, 2015 82,170 $ 18.74 2.77 $ 1,544 As of June 30, 2015, there was $ 157,000 4.06 At June 30, 2015, 74,545 7,927 477,000 130,000 193,000 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, 2015 91,812 $ 21.00 5,767 $ 25.97 Granted 24,757 32.30 15,006 19.51 Vested (12,846) 17.20 (12,846) 17.20 Forfeited (29,178) 19.48 - - Unvested at June 30, 2015 74,545 $ 25.86 7,927 $ 27.95 The maximum amount of compensation expense that may be recorded for the 2015 STIP and the 2013, 2014 and 2015 LTIPs at June 30, 2015 is approximately $ 3.6 1.8 967,000 |
Dividends on Common Stock
Dividends on Common Stock | 6 Months Ended |
Jun. 30, 2015 | |
Dividends, Common Stock [Abstract] | |
Dividend on Common Stock [Text Block] | 5. Dividends on Common Stock First Defiance declared and paid a $ 0.175 0.20 0.15 |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 6. Earnings Per Common Share Three months ended Six months ended 2015 2014 2015 2014 Numerator for basic and diluted earnings per common share Net income $ 6,563 $ 5,689 $ 13,164 $ 10,868 Denominator: Denominator for basic earnings per common share weighted average common shares, including participating securities 9,268 9,607 9,251 9,644 Effect of warrants - 350 147 345 Effect of employee stock options and restricted share activity 81 109 85 107 Denominator for diluted earnings per common share share 9,349 10,066 9,483 10,096 Basic earnings per common share $ 0.71 $ 0.59 $ 1.42 $ 1.13 Diluted earnings per common share $ 0.70 $ 0.57 $ 1.39 $ 1.08 There were 6,750 16,750 1,000 35,000 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2015 | |
Marketable Securities [Abstract] | |
Investment [Text Block] | 7. Investment Securities Amortized Gross Gross Fair Value (In Thousands) At June 30, 2015 Available-for-Sale Securities: Obligations of U.S. government corporations and agencies $ 3,000 $ - $ (18) $ 2,982 Mortgage-backed securities residential 59,181 768 (236) 59,713 REMICs 1,722 29 - 1,751 Collateralized mortgage obligations 76,556 1,094 (363) 77,287 Trust preferred securities and preferred stock - 1 - 1 Corporate bonds 5,935 62 (4) 5,993 Obligations of state and political subdivisions 85,731 3,778 (224) 89,285 Totals $ 232,125 $ 5,732 $ (845) $ 237,012 Amortized Gross Gross Fair Value (In Thousands) Held-to-Maturity Securities*: FHLMC certificates $ 16 $ - $ - $ 16 FNMA certificates 82 3 - 85 GNMA certificates 35 1 - 36 Obligations of state and political subdivisions 124 - - 124 Totals $ 257 $ 4 $ - $ 261 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In Thousands) At December 31, 2014 Available-for-sale Obligations of U.S. government corporations and agencies $ 1,000 $ - $ (20) $ 980 Mortgage-backed securities - residential 58,380 1,476 - 59,856 REMICs 1,820 19 - 1,839 Collateralized mortgage obligations 80,252 1,280 (411) 81,121 Trust preferred stock and preferred stock - 1 - 1 Corporate bonds 6,913 85 (6) 6,992 Obligations of state and political subdivisions 83,732 4,827 (27) 88,532 Total Available-for-Sale $ 232,097 $ 7,688 $ (464) $ 239,321 Amortized Gross Gross Fair Value (In Thousands) Held-to-Maturity*: FHLMC certificates $ 26 $ - $ (8) $ 18 FNMA certificates 93 2 - 95 GNMA certificates 39 1 - 40 Obligations of states and political subdivisions 155 - - 155 Total Held-to-Maturity $ 313 $ 3 $ (8) $ 308 * FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. The amortized cost and fair value of the investment securities portfolio at June 30, 2015 are shown below by contractual maturity. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. For purposes of the maturity table, mortgage-backed securities (“MBS”), collateralized mortgage obligations (“CMO”) and REMICs, which are not due at a single maturity date, have not been allocated over the maturity groupings. Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In Thousands) Due in one year or less $ 1,246 $ 1,256 $ - $ - Due after one year through five years 14,772 15,078 124 124 Due after five years through ten years 36,311 38,157 - - Due after ten years 42,337 43,770 - - MBS/CMO 137,459 138,751 133 137 $ 232,125 $ 237,012 $ 257 $ 261 Investment securities with a carrying amount of $ 134.3 As of June 30, 2015, the Company’s investment portfolio consisted of 366 78 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 June 30, 2015 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 1,994 $ (6) $ 988 $ (12) $ 2,982 $ (18) Collateralized mortgage obligations 11,258 (96) 10,325 (267) 21,583 (363) Mortgage-backed securities - residential 33,958 (236) - - 33,958 (236) Obligations of state and political subdivisions 14,101 (208) 415 (16) 14,516 (224) Corporate bonds 1,996 (4) - - 1,996 (4) Total temporarily impaired securities $ 63,307 $ (550) $ 11,728 $ (295) $ 75,035 $ (845) 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, 2014 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ - $ - $ 980 $ (20) $ 980 $ (20) Collateralized mortgage obligations 4,466 (138) 14,633 (273) 19,099 (411) Corporate bonds - - 994 (6) 994 (6) Obligations of state and political subdivisions 1,194 (8) 1,499 (19) 2,693 (27) Held to maturity securities: FHLMC certificates 18 (8) - - 18 (8) Total temporarily impaired securities $ 5,678 $ (154) $ 18,106 $ (318) $ 23,784 $ (472) With the exception of corporate bonds, 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. There were no realized gains from the sales of investment securities in the first and second quarters of 2015. Management evaluates securities for other-than-temporary impairment (“OTTI”) at least quarterly, and more frequently 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 the first and second quarters of 2015, management determined there was no OTTI. The Company holds three CDO’s at June 30, 2015 and December 31, 2014 with a zero value. The amount of OTTI recognized in accumulated other comprehensive income (“AOCI”) was zero at June 30, 2015 and December 31, 2014. Three Months Ended Six Months Ended 2015 2014 2015 2014 (In Thousands) Proceeds $ - $ 2,128 $ - $ 3,782 Gross realized gains - 1,113 - 1,113 Gross realized losses - (642) - (642) |
Loans
Loans | 6 Months Ended |
Jun. 30, 2015 | |
Loans Receivable, Net [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8. Loans June 30, December 31, (In Thousands) Real Estate: Secured by 1-4 family residential $ 205,044 $ 206,437 Secured by multi-family residential 162,595 156,530 Secured by commercial real estate 722,530 683,958 Construction 140,114 112,385 1,230,283 1,159,310 Other Loans: Commercial 401,247 399,730 Home equity and improvement 109,694 111,813 Consumer Finance 14,911 15,466 525,852 527,009 Total loans 1,756,135 1,686,319 Deduct: Undisbursed loan funds (49,477) (38,653) Net deferred loan origination fees and costs (942) (880) Allowance for loan loss (25,384) (24,766) Totals $ 1,680,332 $ 1,622,020 Loan segments have been identified by evaluating the portfolio based on collateral and credit risk characteristics. Quarter Ended June 30, 2015 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,483 $ 2,554 $ 11,684 $ 303 $ 6,766 $ 1,420 $ 92 $ 25,302 Charge-Offs (12) (114) (31) 0 (23) (187) (13) (380) Recoveries 54 0 167 0 173 51 17 462 Provisions 352 (171) 276 5 (1,349) 823 64 0 Ending Allowance $ 2,877 $ 2,269 $ 12,096 $ 308 $ 5,567 $ 2,107 $ 160 $ 25,384 Quarter Ended June 30, 2014 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,639 $ 2,615 $ 11,987 $ 138 $ 5,610 $ 1,647 $ 147 $ 24,783 Charge-Offs (42) (0) (39) 0 (973) (80) (12) (1,146) Recoveries 98 2 200 0 173 55 16 544 Provisions (350) (137) (672) 61 1,389 158 (3) 446 Ending Allowance $ 2,345 $ 2,480 $ 11,476 $ 199 $ 6,199 $ 1,780 $ 148 $ 24,627 The following table discloses allowance for loan loss activity for the year-to-date periods ended June 30, 2015 and June 30, 2014 by portfolio segment and impairment method (In Thousands): Year-to-date Period Ended 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,494 $ 2,453 $ 11,268 $ 221 $ 6,509 $ 1,704 $ 117 $ 24,766 Charge-Offs (90) (114) (186) 0 (25) (230) (16) (661) Recoveries 73 0 764 0 213 80 29 1,159 Provisions 400 (70) 250 87 (1,130) 553 30 120 Ending Allowance $ 2,877 $ 2,269 $ 12,096 $ 308 $ 5,567 $ 2,107 $ 160 $ 25,384 Year-to-date Period Ended 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,847 $ 2,508 $ 12,000 $ 134 $ 5,678 $ 1,635 $ 148 $ 24,950 Charge-Offs (270) (0) (267) 0 (1,498) (264) (23) (2,322) Recoveries 154 5 922 0 249 86 34 1,450 Provisions (386) (33) (1,179) 65 1,770 323 (11) 549 Ending Allowance $ 2,345 $ 2,480 $ 11,476 $ 199 $ 6,199 $ 1,780 $ 148 $ 24,627 1-4 Family Multi Family Residential Residential Commercial Home Equity Consumer Real Estate Real Estate Real Estate Construction Commercial & Improvement Finance Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 248 $ - $ 220 $ - $ 13 $ 25 $ 32 $ 538 Collectively evaluated for impairment 2,629 2,269 11,876 308 5,554 2,082 128 24,846 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,877 $ 2,269 $ 12,096 $ 308 $ 5,567 $ 2,107 $ 160 $ 25,384 Loans: Loans individually evaluated for impairment $ 9,807 $ 2,256 $ 20,358 $ - $ 5,124 $ 2,394 $ 62 $ 40,001 Loans collectively evaluated for impairment 195,613 160,442 704,220 90,626 397,369 107,774 14,835 1,670,879 Loans acquired with deteriorated credit quality 1 - 160 - 19 - - 180 Total ending loans balance $ 205,421 $ 162,698 $ 724,738 $ 90,626 $ 402,512 $ 110,168 $ 14,897 $ 1,711,060 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, 2014 (In Thousands): 1-4 Family Multi Family Residential Residential Commercial Home Equity Consumer Real Estate Real Estate Real Estate Construction Commercial & Improvement Finance Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 216 $ - $ 1,003 $ - $ 30 $ 24 $ - $ 1,273 Collectively evaluated for impairment 2,278 2,453 10,265 221 6,479 1,680 117 23,493 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,494 $ 2,453 $ 11,268 $ 221 $ 6,509 $ 1,704 $ 117 $ 24,766 Loans: Loans individually evaluated for impairment $ 10,281 $ 2,482 $ 28,117 $ 150 $ 5,739 $ 2,242 $ 34 $ 49,045 Loans collectively evaluated for impairment 196,582 154,178 657,677 73,572 395,270 110,040 15,417 1,602,736 Loans acquired with deteriorated credit quality 1 - 163 - 22 - - 186 Total ending loans balance $ 206,864 $ 156,660 $ 685,957 $ 73,722 $ 401,031 $ 112,282 $ 15,451 $ 1,651,967 Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Average Interest Cash Basis Average Interest Cash Basis Residential Owner Occupied $ 5,819 $ 68 $ 67 $ 5,905 $ 136 $ 135 Residential Non Owner Occupied 4,027 38 39 4,187 79 79 Total Residential Real Estate 9,846 106 106 10,092 215 214 Construction - - - 75 2 2 Multi-Family 2,408 5 6 2,435 13 14 CRE Owner Occupied 6,711 41 29 6,612 78 68 CRE Non Owner Occupied 9,452 111 129 9,820 244 264 Agriculture Land 2,228 25 15 1,494 32 28 Other CRE 2,118 16 16 2,280 26 25 Total Commercial Real Estate 20,509 193 189 20,206 380 385 Commercial Working Capital 1,537 14 12 1,702 27 25 Commercial Other 3,622 13 17 3,731 26 35 Total Commercial 5,159 27 29 5,433 53 60 Home Equity and Home Improvement 2,409 21 21 2,305 41 41 Consumer 65 1 1 54 1 1 Total Impaired Loans $ 40,396 $ 353 $ 352 $ 40,600 $ 705 $ 717 The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans (In Thousands): Three Months Ended June 30, 2014 Six Months Ended June 30, 2014 AverageBalance Interest Cash Basis Average Interest Cash Basis Residential Owner Occupied $ 6,133 $ 81 $ 75 $ 6,231 $ 166 $ 158 Residential Non Owner Occupied 3,715 32 33 3,900 70 71 Total Residential Real Estate 9,848 113 108 10,131 236 229 Construction 261 3 4 261 6 9 Multi-Family 369 1 1 378 2 2 CRE Owner Occupied 8,967 37 33 9,402 73 68 CRE Non Owner Occupied 18,469 201 204 18,912 405 408 Agriculture Land 683 5 3 685 8 5 Other CRE 1,788 5 6 1,825 10 11 Total Commercial Real Estate 29,907 248 246 30,824 496 492 Commercial Working Capital 3,286 8 8 3,105 11 11 Commercial Other 4,552 2 1 4,756 4 3 Total Commercial 7,838 10 9 7,861 15 14 Home Equity and Home Improvement 2,095 25 25 2,267 50 50 Consumer 51 1 1 54 2 2 Total Impaired Loans $ 50,369 $ 401 $ 394 $ 51,776 $ 807 $ 798 June 30, 2015 December 31, 2014 Unpaid Recorded Allowance Unpaid Recorded Allowance With no allowance recorded: Residential Owner Occupied $ 3,713 $ 3,606 $ - $ 3,967 $ 3,859 $ - Residential Non Owner Occupied 3,526 3,517 - 3,763 3,670 - Total 1-4 Family Residential Real Estate 7,239 7,123 - 7,730 7,529 - Multi-Family Residential Real Estate 2,408 2,256 - 2,627 2,482 - CRE Owner Occupied 4,249 3,903 - 7,109 6,481 - CRE Non Owner Occupied 2,406 2,144 - 4,106 3,759 - Agriculture Land 2,134 2,183 - 213 208 - Other CRE 2,073 1,751 - 2,923 2,378 - Total Commercial Real Estate 10,862 9,981 - 14,351 12,826 - Construction - - - 150 150 - Commercial Working Capital 900 904 - 1,155 1,157 - Commercial Other 3,367 3,193 - 3,966 3,663 - Total Commercial 4,267 4,097 - 5,121 4,820 - Home Equity and Home Improvement 2,349 2,298 - 2,192 2,140 - Consumer Finance 29 29 - 35 34 - Total loans with no allowance recorded $ 27,154 $ 25,784 $ - $ 32,206 $ 29,981 $ - With an allowance recorded: Residential Owner Occupied $ 2,183 $ 2,186 $ 241 $ 2,112 $ 2,114 $ 204 Residential Non Owner Occupied 494 498 7 636 638 12 Total 1-4 Family Residential Real Estate 2,677 2,684 248 2,748 2,752 216 Multi-Family Residential Real Estate - - - - - - CRE Owner Occupied 3,231 2,832 169 2,667 2,257 148 CRE Non Owner Occupied 7,156 7,093 44 13,020 12,606 842 Agriculture Land 123 112 1 333 320 10 Other CRE 583 340 6 137 108 3 Total Commercial Real Estate 11,093 10,377 220 16,157 15,291 1,003 Construction - - - - - - Commercial Working Capital 713 714 9 649 650 21 Commercial Other 310 313 4 264 269 9 Total Commercial 1,023 1,027 13 913 919 30 Home Equity and Home Improvement 95 96 25 101 102 24 Consumer Finance 32 33 32 - - - Total loans with an allowance recorded $ 14,920 $ 14,217 $ 538 $ 19,919 $ 19,064 $ 1,273 * Presented gross of charge offs June 30, December 31, (In Thousands) Non-accrual loans $ 16,737 $ 24,130 Loans over 90 days past due and still accruing - - Total non-performing loans 16,737 24,130 Real estate and other assets held for sale 5,371 6,181 Total non-performing assets $ 22,108 $ 30,311 Troubled debt restructuring, still accruing $ 22,234 $ 24,686 Current 30-59 days 60-89 days 90+ days Total Total Non Residential Owner Occupied $ 141,983 $ - $ 427 $ 290 $ 717 $ 1,502 Residential Non Owner Occupied 61,597 245 157 722 1,124 1,440 Total 1-4 Family Residential Real Estate 203,580 245 584 1,012 1,841 2,942 Multi-Family Residential Real Estate 160,594 - - 2,104 2,104 2,123 CRE Owner Occupied 314,314 106 1,277 2,051 3,434 4,652 CRE Non Owner Occupied 262,442 108 2,186 358 2,652 1,093 Agriculture Land 98,224 62 427 - 489 452 Other Commercial Real Estate 42,860 - - 323 323 1,461 Total Commercial Real Estate 717,840 276 3,890 2,732 6,898 7,658 Construction 90,626 - - - - - Commercial Working Capital 153,126 145 - 327 472 397 Commercial Other 245,954 5 1,857 1,098 2,960 3,054 Total Commercial 399,080 150 1,857 1,425 3,432 3,451 Consumer Finance 14,881 16 - - 16 10 Home Equity/Home Improvement 109,229 658 254 27 939 553 Total Loans $ 1,695,830 $ 1,345 $ 6,585 $ 7,300 $ 15,230 $ 16,737 The following table presents the aging of the recorded investment in past due and non accrual loans as of December 31, 2014 by class of loans (In Thousands): Current 30-59 days 60-89 days 90+ days Total Total Non Residential Owner Occupied $ 141,597 $ 39 $ 1,079 $ 365 $ 1,483 $ 1,702 Residential Non Owner Occupied 62,991 110 105 578 793 1,625 Total 1-4 Family Residential Real Estate 204,588 149 1,184 943 2,276 3,327 Multi-Family Residential Real Estate 156,413 247 - - 247 2,546 CRE Owner Occupied 299,500 163 1,566 1,753 3,482 7,004 CRE Non Owner Occupied 243,341 119 416 1,308 1,843 2,582 Agriculture Land 93,529 - 14 - 14 686 Other Commercial Real Estate 43,835 155 - 258 413 2,359 Total Commercial Real Estate 680,205 437 1,996 3,319 5,752 12,631 Construction 73,722 - - - - - Commercial Working Capital 135,009 - - 951 951 1,103 Commercial Other 262,982 67 10 2,012 2,089 3,897 Total Commercial 397,991 67 10 2,963 3,040 5,000 Consumer Finance 15,326 68 57 - 125 12 Home Equity/Home Improvement 110,940 1,236 - 106 1,342 619 Total Loans $ 1,639,185 $ 2,204 $ 3,247 $ 7,331 $ 12,782 $ 24,135 Troubled Debt Restructurings As of June 30, 2015 and December 31, 2014, the Company had a recorded investment in troubled debt restructurings (“TDRs”) of $ 29.0 33.0 431,000 1.1 28,000 69,000 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, $ 6.7 Loans Modified as a TDR for the Three Loans Modified as a TDR for the Six Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment 1-4 Family Owner Occupied 1 $ 9 3 $ 226 1-4 Family Non Owner Occupied 0 - 4 65 CRE Owner Occupied 1 582 1 582 CRE Non Owner Occupied 2 260 2 260 Agriculture Land 3 1,555 3 1,555 Other CRE 0 - 0 - Commercial Working Capital 2 526 2 526 Commercial Other 1 57 1 57 Home Equity and Improvement 4 268 7 326 Consumer Finance 2 34 4 37 Total 16 $ 3,291 27 $ 3,634 53,000 116,000 Loans Modified as a TDR for the Three Loans Modified as a TDR for the Six Troubled Debt Restructurings Number of Loans Recorded Number of Loans Recorded Residential Owner Occupied 7 $ 674 15 $ 1,372 Residential Non Owner Occupied 0 - 0 - CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 0 - 1 358 Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial working capital or other 9 727 11 1,676 Home Equity / Improvement 4 82 7 167 Consumer Finance 1 17 2 19 Total 21 $ 1,500 36 $ 3,592 The loans described above increased the allowance for loan loss by $ 65,000 5,000 Of the 2015 modifications, 9 were made TDRs due to the fact that the borrower has been in bankruptcy, 1 was made TDR due to extending the amortization, 1 was made a TDR due to an interest only period, 11 were made TDRs due to advancing funds to a watchlist credit, 1 was to term out a line of credit and 4 were made to refinance current debt for payment relief. 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 three and six month periods ended June 30, 2015 and June 30, 2014: Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment 1-4 Family Owner Occupied 0 $ - 0 $ - 1-4 Family Non Owner Occupied 1 104 1 104 CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 0 - 0 - Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital or Other 0 - 0 - Commercial Other 0 - 0 - Home Equity and Improvement 1 22 1 22 Consumer Finance 0 - 0 - Total 2 $ 126 2 $ 126 The TDRs that subsequently defaulted described above had no effect on the allowance for loan losses for the three and six month periods ended June 30, 2015. Three Months Ended June 30, 2014 Six Months Ended June 30, 2014 Troubled Debt Restructurings Number of Loans Recorded Number of Loans Recorded Residential Owner Occupied 1 $ 67 1 $ 67 Residential Non Owner Occupied 1 183 1 183 CRE Owner Occupied 4 153 4 153 CRE Non Owner Occupied 0 - 0 - Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial working capital or other 3 387 3 387 Home Equity / Improvement 0 - 0 - Consumer Finance 0 - 0 - Total 8 $ 790 9 $ 790 The TDRs that subsequently defaulted described above decreased the allowance for loan losses by $ 2,000 The terms of certain other loans were modified during the period ending June 30, 2015 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 115 loans were modified under this definition during the three month period ended June 30, 2015 and a total of 153 loans were modified under this definition during the six month period ended June 30, 2015. 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. Substandard. Doubtful. Not Graded. Class Pass Special Substandard Doubtful Not Total 1-4 Family Owner Occupied $ 5,153 $ 155 $ 2,262 $ - $ 135,130 $ 142,700 1-4 Family Non Owner Occupied 51,673 2,071 4,229 - 4,748 62,721 Total 1-4 Family Real Estate 56,826 2,226 6,491 - 139,878 205,421 Multi-Family Residential Real Estate 158,945 214 2,653 - 886 162,698 CRE Owner Occupied 287,339 22,652 6,826 - 930 317,747 CRE Non Owner Occupied 254,929 6,053 4,061 - 52 265,095 Agriculture Land 95,480 2,215 1,019 - - 98,714 Other CRE 39,321 62 3,277 - 522 43,182 Total Commercial Real Estate 677,069 30,982 15,183 - 1,504 724,738 Construction 77,346 347 - - 12,933 90,626 Commercial Working Capital 148,750 3,662 1,187 - - 153,599 Commercial Other 240,718 3,905 4,290 - - 248,913 Total Commercial 389,468 7,567 5,477 - - 402,512 Home Equity and Home Improvement - - 560 - 109,608 110,168 Consumer Finance - - 7 - 14,890 14,897 Total Loans $ 1,359,654 $ 41,336 $ 30,371 $ - $ 279,699 $ 1,711,060 As of December 31, 2014, 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 1-4 Family Owner Occupied $ 4,230 $ 131 $ 3,048 $ 365 $ 135,306 $ 143,080 1-4 Family Non Owner Occupied 51,327 2,404 4,872 7 5,174 63,784 Total 1-4 Family Real Estate 55,557 2,535 7,920 372 140,480 206,864 Multi-Family Residential Real Estate 152,290 220 3,236 - 914 156,660 CRE Owner Occupied 273,406 18,448 9,953 - 1,175 302,982 CRE Non Owner Occupied 224,073 7,898 13,186 - 27 245,184 Agriculture Land 90,875 1,849 819 - - 93,543 Other CRE 40,147 63 3,466 - 572 44,248 Total Commercial Real Estate 628,501 28,258 27,424 - 1,774 685,957 Construction 62,355 - 150 - 11,217 73,722 Commercial Working Capital 128,229 6,287 1,444 - - 135,960 Commercial Other 253,576 6,504 4,991 - - 265,071 Total Commercial 381,805 12,791 6,435 - - 401,031 Home Equity and Home Improvement - - 1,647 106 110,529 112,282 Consumer Finance - - 125 - 15,326 15,451 Total Loans $ 1,280,508 $ 43,804 $ 46,937 $ 478 $ 280,240 $ 1,651,967 Foreclosure Proceedings Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure totaled $ 367,000 |
Mortgage Banking
Mortgage Banking | 6 Months Ended |
Jun. 30, 2015 | |
Mortgage Banking [Abstract] | |
Mortgage Banking [Text Block] | 9. Mortgage Banking Three Months Ended Six Months Ended 2015 2014 2015 2014 (In Thousands) (In Thousands) Gain from sale of mortgage loans $ 1,246 $ 986 $ 2,531 $ 1,628 Mortgage loans servicing revenue (expense): Mortgage loans servicing revenue 852 878 1,727 1,782 Amortization of mortgage servicing rights (446) (368) (857) (660) Mortgage servicing rights valuation adjustments 141 44 167 37 547 554 1,037 1,159 Net revenue from sale and servicing of mortgage loans $ 1,793 $ 1,540 $ 3,568 $ 2,787 The unpaid principal balance of residential mortgage loans serviced for third parties was $ 1.34 1.35 Three Months Ended Six Months Ended 2015 2014 2015 2014 (In Thousands) (In Thousands) Mortgage servicing assets: Balance at beginning of period $ 9,832 $ 10,048 $ 9,923 $ 10,133 Loans sold, servicing retained 486 313 806 520 Amortization (446) (368) (857) (660) Carrying value before valuation allowance at end of period 9,872 9,993 9,872 9,993 Valuation allowance: Balance at beginning of period (885) (1,034) (911) (1,027) Impairment recovery (charges) 141 44 167 37 Balance at end of period (744) (990) (744) (990) Net carrying value of MSRs at end of period $ 9,128 $ 9,003 $ 9,128 $ 9,003 Fair value of MSRs at end of period $ 9,574 $ 9,584 $ 9,574 $ 9,584 Amortization of mortgage servicing rights is computed based on payments and payoffs of the related mortgage loans serviced. Estimates of future amortization expense are not easily estimable . The Company established an accrual for secondary market buy-back losses that resulted in a reversal of $ 72,000 184,000 67,000 |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2015 | |
Deposits [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | 10. Deposits June 30, December 31, (In Thousands) Non-interest-bearing checking accounts $ 378,970 $ 379,552 Interest-bearing checking and money market accounts 722,813 727,729 Savings deposits 218,055 203,673 Retail certificates of deposit less than $250,000 419,990 422,907 Retail certificates of deposit greater than $250,000 23,562 26,952 $ 1,763,390 $ 1,760,813 |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2015 | |
Subordinated Borrowings [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | 11. Borrowings June 30, December 31, (In Thousands) FHLB Advances: Single maturity fixed rate advances $ 27,000 $ - Putable advances 5,000 12,000 Amortizable mortgage advances 9,050 9,544 Total $ 41,050 $ 21,544 Junior subordinated debentures owed to unconsolidated subsidiary trusts $ 36,083 $ 36,083 The putable advance can be put back to the Company at the option of the FHLB on a quarterly basis. A $ 5.0 2.35 March 12, 2018 In March 2007, the Company sponsored an affiliated trust, First Defiance Statutory Trust II (Trust Affiliate II) that issued $ 15 15.5 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% 1.78 1.74 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 can be redeemed at the Company’s option at any time now. The Company also sponsored an affiliated trust, First Defiance Statutory Trust I (Trust Affiliate I), that issued $ 20 20.6 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% 1.66 1.62 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 Subordinated Debentures mature on December 15, 2035, but can be redeemed at the Company’s option at any time now. The subordinated debentures may be included in Tier 1 capital (with certain limitations applicable) under current regulatory guidelines and interpretations. 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. Repurchase Agreements . Overnight and Up to 30 30-90 Days Greater Total (In Thousands) At June 30, 2015 Repurchase agreements: Mortgage-backed securities residential $ 17,023 $ - $ - $ - $ 17,023 Collateralized mortgage obligations 37,214 - - - 37,214 Total borrowings $ 54,237 $ - $ - $ - $ 54,237 Gross amount of recognized liabilities for repurchase agreements $ 54,237 Overnight and Up to 30 30-90 Days Greater Total (In Thousands) At December 31, 2014 Repurchase agreements: Mortgage-backed securities residential $ 16,570 $ - $ - $ - $ 16,570 Collateralized mortgage obligations 38,189 - - - 38,189 Total borrowings $ 54,759 $ - $ - $ - $ 54,759 Gross amount of recognized liabilities for repurchase agreements $ 54,759 |
Commitments, Guarantees and Con
Commitments, Guarantees and Contingent Liabilities | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments Contingencies and Guarantees [Text Block] | 12. Commitments, Guarantees and Contingent Liabilities 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. June 30, 2015 December 31, 2014 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 43,201 $ 99,351 $ 37,546 $ 69,232 Unused lines of credit 17,148 295,745 20,385 307,449 Standby letters of credit - 17,809 - 17,886 Total $ 60,349 $ 412,905 $ 57,931 $ 394,567 Commitments to make loans are generally made for periods of 60 days or less 25.2 11.6 |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 13. Income Taxes 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 2010. The Company currently operates primarily in the states of Ohio and Michigan, which tax financial institutions based on their equity rather than their income. |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 14. 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 $ 17.3 7.4 25.2 11.6 June 30, 2015 December 31, 2014 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 Derivatives $ 732 $ - $ 732 $ 351 $ 24 $ 327 Three Months Ended Six Months Ended 2015 2014 2015 2014 (In Thousands) (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives Gain (Loss) $ (33) $ 128 $ 405 $ 178 The above amounts are included in mortgage banking income with gain on sale of mortgage loans. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2015 | |
Other Comprehensive Income (Loss), Net Of Tax [Abstract] | |
Other Comprehensive Income Loss [Text Block] | Note 15 - Other Comprehensive Income (Loss) Before Tax Tax Expense Net of Tax (In Thousands) Three months ended June 30, 2015: Securities available for sale and transferred securities: Change in net unrealized gain/loss during the period $ (3,839) $ (1,344) $ (2,495) Reclassification adjustment for net gains included in net income - - - Total other comprehensive loss $ (3,839) $ (1,344) $ (2,495) Six months ended June 30, 2015: Securities available for sale and transferred securities: Change in net unrealized gain/loss during the period $ (2,337) $ (817) $ (1,520) Reclassification adjustment for net gains included in net income - - - Total other comprehensive loss $ (2,337) $ (817) $ (1,520) Before Tax Tax Expense Net of Tax Three months ended June 30, 2014: Securities available for sale and transferred securities: Change in net unrealized gain (loss) during the period $ 2,743 $ 936 $ 1,807 Reclassification adjustment for net gains included in net income (471) (141) (330) Total other comprehensive loss $ 2,272 $ 795 $ 1,477 Before Tax Tax Expense Net of Tax Six months ended June 30, 2014: Securities available for sale and transferred securities: Change in net unrealized gain (loss) during the period $ 4,465 $ 1,538 $ 2,927 Reclassification adjustment for net gains included in net income (471) (141) (330) Total other comprehensive loss $ 3,994 $ 1,397 $ 2,597 Accumulated Securities Post- Other Available retirement Comprehensive For Sale Benefit Income (In Thousands) Balance January 1, 2015 $ 4,697 $ (583) $ 4,114 Other comprehensive income before reclassifications (1,520) - (1,520) Amounts reclassified from accumulated other comprehensive income - - - Net other comprehensive income during period (1,520) - (1,520) Balance June 30, 2015 $ 3,177 $ (583) $ 2,594 Balance January 1, 2014 $ 906 $ (361) $ 545 Other comprehensive income before reclassifications 2,927 - 2,927 Amounts reclassified from accumulated other comprehensive income (330) - (330) Net other comprehensive income during period 2,597 - 2,597 Balance June 30, 2014 $ 3,503 $ (361) $ 3,142 |
Affordable Housing Projects Tax
Affordable Housing Projects Tax Credit Partnership | 6 Months Ended |
Jun. 30, 2015 | |
Affordable Housing Projects Tax Credit Partnership [Abstract] | |
Affordable Housing Program [Text Block] | Note 16 Affordable Housing Projects Tax Credit Partnership The Company makes certain equity investments in various limited partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (“LIHTC”) pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the limited partnerships include the identification, development, and operation of multi-family housing that is leased to qualifying residential tenants. Generally, these types of investments are funded through a combination of debt and equity. The Company is a limited partner in each LIHTC Partnership. A separate unrelated third party is the general partner. Each limited partnership is managed by the general partner, who exercises full control over the affairs of the limited partnership. The general partner has all the rights, powers and authority granted or permitted to be granted to a general partner of a limited partnership. Duties entrusted to the general partner of each limited partnership include, but are not limited to: investment in operating companies, company expenditures, investment of excess funds, borrowing funds, employment of agents, disposition of fund property, prepayment and refinancing of liabilities, votes and consents, contract authority, disbursement of funds, accounting methods, tax elections, bank accounts, insurance, litigation, cash reserve, and use of working capital reserve funds. Except for limited rights granted to consent to certain transactions, the limited partner(s) may not participate in the operation, management, or control of the limited partnership’s business, transact any business in the limited partnership’s name or have any power to sign documents for or otherwise bind the limited partnership. In addition, the general partner may only be removed by the limited partner(s) in the event the general partner fails to comply with the terms of the agreement or is negligent in performing its duties. The general partner of each limited partnership has both the power to direct the activities which most significantly affect the performance of each partnership and the obligation to absorb losses or the right to receive benefits that could be significant to the entities. Therefore, the Company has determined that it is not the primary beneficiary of any LIHTC partnership. In January of 2014, the FASB issued ASU 2014-01 “Accounting for Investments in Qualified Affordable Housing Projects.” 4.5 4.6 2.9 3.0 Unfunded Commitments (dollars in thousands) Amount 2015 $ 1,333 2016 612 2017 160 2018 414 2019 93 Thereafter 312 Total Unfunded Commitments $ 2,924 Three Months Ended June 30, (dollars in thousands) 2015 2014 Proportional Amortization Method Tax credits and other tax benefits recognized $ 118 $ 332 Amortization expense in federal income taxes 89 44 Six Months Ended June 30, (dollars in thousands) 2015 2014 Proportional Amortization Method Tax credits and other tax benefits recognized $ 236 $ 332 Amortization expense in federal income taxes 179 44 There were no impairment losses of LIHTC investments for the three and six months ended June 30, 2015 and 2014. |
Significant Accounting Polici26
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
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. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses Beginning June 30, 2015, the Company refined the methodology to its allowance for loan loss calculation pertaining to the general reserve component for non-impaired loans. There was no change to the calculation of the component for reserves on impaired loans. Within the general reserve, the determination of the historical loss component was modified from using a three-year average annual loss rate to a loss migration measurement. The loss migration measurement implemented June 30, 2015, utilizes an average of four (4) four-year loss migration periods for each loan portfolio segment with differentiation between loan risk grades. This approach provides for a more precise reflection of probable incurred losses by risk grade within each loan portfolio segment over an average loan life cycle. Management believes that capturing the risk grade changes and cumulative losses over the life cycle of a loan more accurately depicts management’s estimate of historical losses as well as being more reflective of the ongoing risks in the loan portfolio, thereby requiring less weight to the subjective components of the allowance for loan losses. Prior to June 30, 2015, the approach to this component quantified the historical loss by calculating a rolling twelve quarter average annual loss rate for each portfolio segment, without differentiation between loan risk grades. This modification resulted in a change of the general reserves between the loan portfolio segments but did not have a material impact on the overall allowance for loan losses. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Common Share Basic earnings per common share is computed by dividing net income 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. |
New Accounting Pronouncements, Policy [Policy Text Block] | Newly Issued Accounting Standards In June 2014, the FASB issued ASU No. 2014-11, "Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures." In January 2014, the FASB issued ASU No. 2014-01, "Accounting for Investments in Qualified Affordable Housing Projects." In January 2014, the FASB issued ASU No. 2014-04, “ Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure Receivables - Troubled Debt Restructurings by Creditors,” |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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 June 30, 2015 Level 1 Level 2 Level 3 Total Fair (In Thousands) Available for sale securities: Obligations of U.S. government corporations and agencies $ - $ 2,982 $ - $ 2,982 Mortgage-backed - residential - 59,713 - 59,713 REMICs - 1,751 - 1,751 Collateralized mortgage obligations - 77,287 - 77,287 Preferred stock 1 - - 1 Corporate bonds 1,995 3,998 - 5,993 Obligations of state and political subdivisions - 89,285 - 89,285 Mortgage banking derivative - asset - 732 - 732 Mortgage banking derivative - liability - - - - December 31, 2014 Level 1 Level 2 Level 3 Total Fair (In Thousands) Available for sale securities: Obligations of U.S. Government corporations and agencies $ - $ 980 $ - $ 980 Mortgage-backed - residential - 59,856 - 59,856 REMICs - 1,839 - 1,839 Collateralized mortgage obligations - 81,121 - 81,121 Preferred stock 1 - - 1 Corporate bonds 1,989 5,003 - 6,992 Obligations of state and political subdivisions - 88,532 88,532 Mortgage banking derivative - asset - 351 - 351 Mortgage banking derivative - liability - 24 - 24 |
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 three and six months ended June 30, 2014: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Beginning balance, January 1, 2014 $ 582 Total gains or (losses) (realized/unrealized) Included in earnings (realized) (329) Included in other comprehensive income (presented gross of taxes) 993 Amortization - Sales (1,246) Transfers in and/or out of Level 3 - Ending balance, June 30, 2014 $ - Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Beginning balance, April 1, 2014 $ 704 Total gains or (losses) (realized/unrealized) Included in earnings (realized) (329) Included in other comprehensive income (presented gross of taxes) 871 Amortization - Sales (1,246) Transfers in and/or out of Level 3 - Ending balance, June 30, 2014 $ - |
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | Assets and Liabilities Measured on a Non-Recurring Basis June 30, 2015 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair (In Thousands) Impaired loans 1-4 Family Residential Real Estate $ - $ - $ 408 $ 408 Multi Family Residential - - 107 107 Commercial Real Estate - - 5,304 5,304 Commercial loans - - 61 61 Home Equity and Improvement - - 95 95 Total Impaired loans - - 5,975 5,975 Mortgage servicing rights - 954 - 954 Real estate held for sale Residential - - 66 66 CRE - - 342 342 Total real estate held for sale - - 408 408 December 31, 2014 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair (In Thousands) Impaired loans 1-4 Family Residential Real Estate $ - $ - $ 419 $ 419 Multi Family Residential - - 269 269 Commercial Real Estate - - 6,665 6,665 Commercial - - 340 340 Home Equity and Improvement - - 98 98 Total impaired loans - - 7,791 7,791 Mortgage servicing rights - 1,034 - 1,034 Real estate held for sale Residential - - - - CRE - - 739 739 Total real estate held for sale - - 739 739 |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Fair Valuation Technique Unobservable Inputs Range of Weighted (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 5,975 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10-30 % 11% Real estate held for sale Applies to all classes $ 408 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 20-30 % 27% For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2014, the significant unobservable inputs used in the fair value measurements were as follows: Fair Valuation Technique Unobservable Inputs Range of Weighted (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 7,791 Appraisals which utilize sales comparison, net income and cost approach Discounts for collection issues and changes in market conditions 10-30 % 11% Real estate held for sale Applies to all classes $ 739 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 20-40 % 28% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | The cost or value of any call or put options is based on the estimated cost to settle the option at June 30, 2015. Fair Value Measurements at June 30, 2015 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 65,586 $ 65,586 $ 65,586 $ - $ - Investment securities 237,269 237,273 1,996 235,277 - Federal Home Loan Bank Stock 13,802 N/A N/A N/A N/A Loans, net, including loans held for sale 1,690,125 1,699,398 - 10,216 1,689,182 Accrued interest receivable 6,204 6,204 - 860 5,344 Financial Liabilities: Deposits $ 1,763,390 $ 1,766,560 $ 378,970 $ 1,387,590 $ - Advances from Federal Home Loan Bank 41,050 41,209 - 41,209 - Securities sold under repurchase agreements 54,237 54,237 - 54,237 - Subordinated debentures 36,083 35,318 - - 35,318 Fair Value Measurements at December 31, 2014 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 112,936 $ 112,936 $ 112,936 $ - $ - Investment securities 239,634 239,629 1,990 237,639 - Federal Home Loan Bank Stock 13,802 N/A N/A N/A N/A Loans, net, including loans held for sale 1,626,555 1,632,507 - 4,741 1,627,766 Accrued interest receivable 6,037 6,037 3 846 5,188 Financial Liabilities: Deposits $ 1,760,813 $ 1,762,733 $ 379,552 $ 1,383,181 $ - Advances from Federal Home Loan Bank 21,544 21,772 - 21,772 - Securities sold under repurchase agreements 54,759 54,759 - 54,759 - Subordinated debentures 36,083 35,307 - - 35,307 |
Stock Compensation Plans (Table
Stock Compensation Plans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The fair value of stock options granted during the six months ended June 30, 2015 was determined at the date of grant using the Black-Scholes stock option-pricing model and the following assumptions: Six Months ended June 30, 2015 June 30, 2014 Expected average risk-free rate 2.04 % 1.64 % Expected average life 10.00 years 7.44 years Expected volatility 42.00 % 44.62 % Expected dividend yield 2.10 % 2.17 % |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Following is activity under the plans during the six months ended June 30, 2015: Stock options Options Weighted Weighted Aggregate Options outstanding, January 1, 2015 173,720 $ 20.80 Forfeited or cancelled (5,100) 25.36 Exercised (78,050) 22.01 Granted 6,250 32.94 Options outstanding, June 30, 2015 96,820 $ 20.37 3.72 $ 1,661 Vested or expected to vest at June 30, 2015 96,820 $ 20.37 3.72 $ 1,661 Exercisable at June 30, 2015 82,170 $ 18.74 2.77 $ 1,544 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | There was approximately $ 193,000 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, 2015 91,812 $ 21.00 5,767 $ 25.97 Granted 24,757 32.30 15,006 19.51 Vested (12,846) 17.20 (12,846) 17.20 Forfeited (29,178) 19.48 - - Unvested at June 30, 2015 74,545 $ 25.86 7,927 $ 27.95 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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: Three months ended Six months ended 2015 2014 2015 2014 Numerator for basic and diluted earnings per common share Net income $ 6,563 $ 5,689 $ 13,164 $ 10,868 Denominator: Denominator for basic earnings per common share weighted average common shares, including participating securities 9,268 9,607 9,251 9,644 Effect of warrants - 350 147 345 Effect of employee stock options and restricted share activity 81 109 85 107 Denominator for diluted earnings per common share share 9,349 10,066 9,483 10,096 Basic earnings per common share $ 0.71 $ 0.59 $ 1.42 $ 1.13 Diluted earnings per common share $ 0.70 $ 0.57 $ 1.39 $ 1.08 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Marketable Securities [Abstract] | |
Schedule of Available-for-sale and Held to Maturity Securities [Table Text Block] | Amortized Gross Gross Fair Value (In Thousands) At June 30, 2015 Available-for-Sale Securities: Obligations of U.S. government corporations and agencies $ 3,000 $ - $ (18) $ 2,982 Mortgage-backed securities residential 59,181 768 (236) 59,713 REMICs 1,722 29 - 1,751 Collateralized mortgage obligations 76,556 1,094 (363) 77,287 Trust preferred securities and preferred stock - 1 - 1 Corporate bonds 5,935 62 (4) 5,993 Obligations of state and political subdivisions 85,731 3,778 (224) 89,285 Totals $ 232,125 $ 5,732 $ (845) $ 237,012 Amortized Gross Gross Fair Value (In Thousands) Held-to-Maturity Securities*: FHLMC certificates $ 16 $ - $ - $ 16 FNMA certificates 82 3 - 85 GNMA certificates 35 1 - 36 Obligations of state and political subdivisions 124 - - 124 Totals $ 257 $ 4 $ - $ 261 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In Thousands) At December 31, 2014 Available-for-sale Obligations of U.S. government corporations and agencies $ 1,000 $ - $ (20) $ 980 Mortgage-backed securities - residential 58,380 1,476 - 59,856 REMICs 1,820 19 - 1,839 Collateralized mortgage obligations 80,252 1,280 (411) 81,121 Trust preferred stock and preferred stock - 1 - 1 Corporate bonds 6,913 85 (6) 6,992 Obligations of state and political subdivisions 83,732 4,827 (27) 88,532 Total Available-for-Sale $ 232,097 $ 7,688 $ (464) $ 239,321 Amortized Gross Gross Fair Value (In Thousands) Held-to-Maturity*: FHLMC certificates $ 26 $ - $ (8) $ 18 FNMA certificates 93 2 - 95 GNMA certificates 39 1 - 40 Obligations of states and political subdivisions 155 - - 155 Total Held-to-Maturity $ 313 $ 3 $ (8) $ 308 |
Investments Classified by Contractual Maturity Date [Table Text Block] | These securities may mature earlier than their weighted-average contractual maturities because of principal prepayments. Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In Thousands) Due in one year or less $ 1,246 $ 1,256 $ - $ - Due after one year through five years 14,772 15,078 124 124 Due after five years through ten years 36,311 38,157 - - Due after ten years 42,337 43,770 - - MBS/CMO 137,459 138,751 133 137 $ 232,125 $ 237,012 $ 257 $ 261 |
Unrealized Gain (Loss) on Investments [Table Text Block] | The following tables summarize First Defiance’s securities that were in an unrealized loss position at June 30, 2015 and December 31, 2014: 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 June 30, 2015 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 1,994 $ (6) $ 988 $ (12) $ 2,982 $ (18) Collateralized mortgage obligations 11,258 (96) 10,325 (267) 21,583 (363) Mortgage-backed securities - residential 33,958 (236) - - 33,958 (236) Obligations of state and political subdivisions 14,101 (208) 415 (16) 14,516 (224) Corporate bonds 1,996 (4) - - 1,996 (4) Total temporarily impaired securities $ 63,307 $ (550) $ 11,728 $ (295) $ 75,035 $ (845) 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, 2014 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ - $ - $ 980 $ (20) $ 980 $ (20) Collateralized mortgage obligations 4,466 (138) 14,633 (273) 19,099 (411) Corporate bonds - - 994 (6) 994 (6) Obligations of state and political subdivisions 1,194 (8) 1,499 (19) 2,693 (27) Held to maturity securities: FHLMC certificates 18 (8) - - 18 (8) Total temporarily impaired securities $ 5,678 $ (154) $ 18,106 $ (318) $ 23,784 $ (472) |
Marketable Securities [Table Text Block] | The proceeds from the sales and calls of securities and the associated gains and losses are listed below: Three Months Ended Six Months Ended 2015 2014 2015 2014 (In Thousands) Proceeds $ - $ 2,128 $ - $ 3,782 Gross realized gains - 1,113 - 1,113 Gross realized losses - (642) - (642) |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Loans Receivable, Net [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans receivable consist of the following: June 30, December 31, (In Thousands) Real Estate: Secured by 1-4 family residential $ 205,044 $ 206,437 Secured by multi-family residential 162,595 156,530 Secured by commercial real estate 722,530 683,958 Construction 140,114 112,385 1,230,283 1,159,310 Other Loans: Commercial 401,247 399,730 Home equity and improvement 109,694 111,813 Consumer Finance 14,911 15,466 525,852 527,009 Total loans 1,756,135 1,686,319 Deduct: Undisbursed loan funds (49,477) (38,653) Net deferred loan origination fees and costs (942) (880) Allowance for loan loss (25,384) (24,766) Totals $ 1,680,332 $ 1,622,020 |
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | The following table discloses allowance for loan loss activity for the quarter ended June 30, 2015 and 2014 by portfolio segment (In Thousands): Quarter Ended June 30, 2015 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,483 $ 2,554 $ 11,684 $ 303 $ 6,766 $ 1,420 $ 92 $ 25,302 Charge-Offs (12) (114) (31) 0 (23) (187) (13) (380) Recoveries 54 0 167 0 173 51 17 462 Provisions 352 (171) 276 5 (1,349) 823 64 0 Ending Allowance $ 2,877 $ 2,269 $ 12,096 $ 308 $ 5,567 $ 2,107 $ 160 $ 25,384 Quarter Ended June 30, 2014 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,639 $ 2,615 $ 11,987 $ 138 $ 5,610 $ 1,647 $ 147 $ 24,783 Charge-Offs (42) (0) (39) 0 (973) (80) (12) (1,146) Recoveries 98 2 200 0 173 55 16 544 Provisions (350) (137) (672) 61 1,389 158 (3) 446 Ending Allowance $ 2,345 $ 2,480 $ 11,476 $ 199 $ 6,199 $ 1,780 $ 148 $ 24,627 The following table discloses allowance for loan loss activity for the year-to-date periods ended June 30, 2015 and June 30, 2014 by portfolio segment and impairment method (In Thousands): Year-to-date Period Ended 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,494 $ 2,453 $ 11,268 $ 221 $ 6,509 $ 1,704 $ 117 $ 24,766 Charge-Offs (90) (114) (186) 0 (25) (230) (16) (661) Recoveries 73 0 764 0 213 80 29 1,159 Provisions 400 (70) 250 87 (1,130) 553 30 120 Ending Allowance $ 2,877 $ 2,269 $ 12,096 $ 308 $ 5,567 $ 2,107 $ 160 $ 25,384 Year-to-date Period Ended 1-4 Family Multi- Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 2,847 $ 2,508 $ 12,000 $ 134 $ 5,678 $ 1,635 $ 148 $ 24,950 Charge-Offs (270) (0) (267) 0 (1,498) (264) (23) (2,322) Recoveries 154 5 922 0 249 86 34 1,450 Provisions (386) (33) (1,179) 65 1,770 323 (11) 549 Ending Allowance $ 2,345 $ 2,480 $ 11,476 $ 199 $ 6,199 $ 1,780 $ 148 $ 24,627 |
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 June 30, 2015 (In Thousands): 1-4 Family Multi Family Residential Residential Commercial Home Equity Consumer Real Estate Real Estate Real Estate Construction Commercial & Improvement Finance Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 248 $ - $ 220 $ - $ 13 $ 25 $ 32 $ 538 Collectively evaluated for impairment 2,629 2,269 11,876 308 5,554 2,082 128 24,846 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,877 $ 2,269 $ 12,096 $ 308 $ 5,567 $ 2,107 $ 160 $ 25,384 Loans: Loans individually evaluated for impairment $ 9,807 $ 2,256 $ 20,358 $ - $ 5,124 $ 2,394 $ 62 $ 40,001 Loans collectively evaluated for impairment 195,613 160,442 704,220 90,626 397,369 107,774 14,835 1,670,879 Loans acquired with deteriorated credit quality 1 - 160 - 19 - - 180 Total ending loans balance $ 205,421 $ 162,698 $ 724,738 $ 90,626 $ 402,512 $ 110,168 $ 14,897 $ 1,711,060 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, 2014 (In Thousands): 1-4 Family Multi Family Residential Residential Commercial Home Equity Consumer Real Estate Real Estate Real Estate Construction Commercial & Improvement Finance Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 216 $ - $ 1,003 $ - $ 30 $ 24 $ - $ 1,273 Collectively evaluated for impairment 2,278 2,453 10,265 221 6,479 1,680 117 23,493 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 2,494 $ 2,453 $ 11,268 $ 221 $ 6,509 $ 1,704 $ 117 $ 24,766 Loans: Loans individually evaluated for impairment $ 10,281 $ 2,482 $ 28,117 $ 150 $ 5,739 $ 2,242 $ 34 $ 49,045 Loans collectively evaluated for impairment 196,582 154,178 657,677 73,572 395,270 110,040 15,417 1,602,736 Loans acquired with deteriorated credit quality 1 - 163 - 22 - - 186 Total ending loans balance $ 206,864 $ 156,660 $ 685,957 $ 73,722 $ 401,031 $ 112,282 $ 15,451 $ 1,651,967 |
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): Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Average Interest Cash Basis Average Interest Cash Basis Residential Owner Occupied $ 5,819 $ 68 $ 67 $ 5,905 $ 136 $ 135 Residential Non Owner Occupied 4,027 38 39 4,187 79 79 Total Residential Real Estate 9,846 106 106 10,092 215 214 Construction - - - 75 2 2 Multi-Family 2,408 5 6 2,435 13 14 CRE Owner Occupied 6,711 41 29 6,612 78 68 CRE Non Owner Occupied 9,452 111 129 9,820 244 264 Agriculture Land 2,228 25 15 1,494 32 28 Other CRE 2,118 16 16 2,280 26 25 Total Commercial Real Estate 20,509 193 189 20,206 380 385 Commercial Working Capital 1,537 14 12 1,702 27 25 Commercial Other 3,622 13 17 3,731 26 35 Total Commercial 5,159 27 29 5,433 53 60 Home Equity and Home Improvement 2,409 21 21 2,305 41 41 Consumer 65 1 1 54 1 1 Total Impaired Loans $ 40,396 $ 353 $ 352 $ 40,600 $ 705 $ 717 The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans (In Thousands): Three Months Ended June 30, 2014 Six Months Ended June 30, 2014 AverageBalance Interest Cash Basis Average Interest Cash Basis Residential Owner Occupied $ 6,133 $ 81 $ 75 $ 6,231 $ 166 $ 158 Residential Non Owner Occupied 3,715 32 33 3,900 70 71 Total Residential Real Estate 9,848 113 108 10,131 236 229 Construction 261 3 4 261 6 9 Multi-Family 369 1 1 378 2 2 CRE Owner Occupied 8,967 37 33 9,402 73 68 CRE Non Owner Occupied 18,469 201 204 18,912 405 408 Agriculture Land 683 5 3 685 8 5 Other CRE 1,788 5 6 1,825 10 11 Total Commercial Real Estate 29,907 248 246 30,824 496 492 Commercial Working Capital 3,286 8 8 3,105 11 11 Commercial Other 4,552 2 1 4,756 4 3 Total Commercial 7,838 10 9 7,861 15 14 Home Equity and Home Improvement 2,095 25 25 2,267 50 50 Consumer 51 1 1 54 2 2 Total Impaired Loans $ 50,369 $ 401 $ 394 $ 51,776 $ 807 $ 798 |
Impaired Financing Receivables [Table Text Block] | The following table presents loans individually evaluated for impairment by class of loans (In Thousands): June 30, 2015 December 31, 2014 Unpaid Recorded Allowance Unpaid Recorded Allowance With no allowance recorded: Residential Owner Occupied $ 3,713 $ 3,606 $ - $ 3,967 $ 3,859 $ - Residential Non Owner Occupied 3,526 3,517 - 3,763 3,670 - Total 1-4 Family Residential Real Estate 7,239 7,123 - 7,730 7,529 - Multi-Family Residential Real Estate 2,408 2,256 - 2,627 2,482 - CRE Owner Occupied 4,249 3,903 - 7,109 6,481 - CRE Non Owner Occupied 2,406 2,144 - 4,106 3,759 - Agriculture Land 2,134 2,183 - 213 208 - Other CRE 2,073 1,751 - 2,923 2,378 - Total Commercial Real Estate 10,862 9,981 - 14,351 12,826 - Construction - - - 150 150 - Commercial Working Capital 900 904 - 1,155 1,157 - Commercial Other 3,367 3,193 - 3,966 3,663 - Total Commercial 4,267 4,097 - 5,121 4,820 - Home Equity and Home Improvement 2,349 2,298 - 2,192 2,140 - Consumer Finance 29 29 - 35 34 - Total loans with no allowance recorded $ 27,154 $ 25,784 $ - $ 32,206 $ 29,981 $ - With an allowance recorded: Residential Owner Occupied $ 2,183 $ 2,186 $ 241 $ 2,112 $ 2,114 $ 204 Residential Non Owner Occupied 494 498 7 636 638 12 Total 1-4 Family Residential Real Estate 2,677 2,684 248 2,748 2,752 216 Multi-Family Residential Real Estate - - - - - - CRE Owner Occupied 3,231 2,832 169 2,667 2,257 148 CRE Non Owner Occupied 7,156 7,093 44 13,020 12,606 842 Agriculture Land 123 112 1 333 320 10 Other CRE 583 340 6 137 108 3 Total Commercial Real Estate 11,093 10,377 220 16,157 15,291 1,003 Construction - - - - - - Commercial Working Capital 713 714 9 649 650 21 Commercial Other 310 313 4 264 269 9 Total Commercial 1,023 1,027 13 913 919 30 Home Equity and Home Improvement 95 96 25 101 102 24 Consumer Finance 32 33 32 - - - Total loans with an allowance recorded $ 14,920 $ 14,217 $ 538 $ 19,919 $ 19,064 $ 1,273 * 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: June 30, December 31, (In Thousands) Non-accrual loans $ 16,737 $ 24,130 Loans over 90 days past due and still accruing - - Total non-performing loans 16,737 24,130 Real estate and other assets held for sale 5,371 6,181 Total non-performing assets $ 22,108 $ 30,311 Troubled debt restructuring, still accruing $ 22,234 $ 24,686 |
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 June 30, 2015 by class of loans (In Thousands): Current 30-59 days 60-89 days 90+ days Total Total Non Residential Owner Occupied $ 141,983 $ - $ 427 $ 290 $ 717 $ 1,502 Residential Non Owner Occupied 61,597 245 157 722 1,124 1,440 Total 1-4 Family Residential Real Estate 203,580 245 584 1,012 1,841 2,942 Multi-Family Residential Real Estate 160,594 - - 2,104 2,104 2,123 CRE Owner Occupied 314,314 106 1,277 2,051 3,434 4,652 CRE Non Owner Occupied 262,442 108 2,186 358 2,652 1,093 Agriculture Land 98,224 62 427 - 489 452 Other Commercial Real Estate 42,860 - - 323 323 1,461 Total Commercial Real Estate 717,840 276 3,890 2,732 6,898 7,658 Construction 90,626 - - - - - Commercial Working Capital 153,126 145 - 327 472 397 Commercial Other 245,954 5 1,857 1,098 2,960 3,054 Total Commercial 399,080 150 1,857 1,425 3,432 3,451 Consumer Finance 14,881 16 - - 16 10 Home Equity/Home Improvement 109,229 658 254 27 939 553 Total Loans $ 1,695,830 $ 1,345 $ 6,585 $ 7,300 $ 15,230 $ 16,737 The following table presents the aging of the recorded investment in past due and non accrual loans as of December 31, 2014 by class of loans (In Thousands): Current 30-59 days 60-89 days 90+ days Total Total Non Residential Owner Occupied $ 141,597 $ 39 $ 1,079 $ 365 $ 1,483 $ 1,702 Residential Non Owner Occupied 62,991 110 105 578 793 1,625 Total 1-4 Family Residential Real Estate 204,588 149 1,184 943 2,276 3,327 Multi-Family Residential Real Estate 156,413 247 - - 247 2,546 CRE Owner Occupied 299,500 163 1,566 1,753 3,482 7,004 CRE Non Owner Occupied 243,341 119 416 1,308 1,843 2,582 Agriculture Land 93,529 - 14 - 14 686 Other Commercial Real Estate 43,835 155 - 258 413 2,359 Total Commercial Real Estate 680,205 437 1,996 3,319 5,752 12,631 Construction 73,722 - - - - - Commercial Working Capital 135,009 - - 951 951 1,103 Commercial Other 262,982 67 10 2,012 2,089 3,897 Total Commercial 397,991 67 10 2,963 3,040 5,000 Consumer Finance 15,326 68 57 - 125 12 Home Equity/Home Improvement 110,940 1,236 - 106 1,342 619 Total Loans $ 1,639,185 $ 2,204 $ 3,247 $ 7,331 $ 12,782 $ 24,135 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following table presents loans by class modified as troubled debt restructurings that occurred during the three and six month periods ending June 30, 2015 and June 30, 2014: Loans Modified as a TDR for the Three Loans Modified as a TDR for the Six Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment 1-4 Family Owner Occupied 1 $ 9 3 $ 226 1-4 Family Non Owner Occupied 0 - 4 65 CRE Owner Occupied 1 582 1 582 CRE Non Owner Occupied 2 260 2 260 Agriculture Land 3 1,555 3 1,555 Other CRE 0 - 0 - Commercial Working Capital 2 526 2 526 Commercial Other 1 57 1 57 Home Equity and Improvement 4 268 7 326 Consumer Finance 2 34 4 37 Total 16 $ 3,291 27 $ 3,634 53,000 116,000 Loans Modified as a TDR for the Three Loans Modified as a TDR for the Six Troubled Debt Restructurings Number of Loans Recorded Number of Loans Recorded Residential Owner Occupied 7 $ 674 15 $ 1,372 Residential Non Owner Occupied 0 - 0 - CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 0 - 1 358 Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial working capital or other 9 727 11 1,676 Home Equity / Improvement 4 82 7 167 Consumer Finance 1 17 2 19 Total 21 $ 1,500 36 $ 3,592 |
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 three and six month periods ended June 30, 2015 and June 30, 2014: Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment 1-4 Family Owner Occupied 0 $ - 0 $ - 1-4 Family Non Owner Occupied 1 104 1 104 CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 0 - 0 - Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital or Other 0 - 0 - Commercial Other 0 - 0 - Home Equity and Improvement 1 22 1 22 Consumer Finance 0 - 0 - Total 2 $ 126 2 $ 126 The TDRs that subsequently defaulted described above had no effect on the allowance for loan losses for the three and six month periods ended June 30, 2015. Three Months Ended June 30, 2014 Six Months Ended June 30, 2014 Troubled Debt Restructurings Number of Loans Recorded Number of Loans Recorded Residential Owner Occupied 1 $ 67 1 $ 67 Residential Non Owner Occupied 1 183 1 183 CRE Owner Occupied 4 153 4 153 CRE Non Owner Occupied 0 - 0 - Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial working capital or other 3 387 3 387 Home Equity / Improvement 0 - 0 - Consumer Finance 0 - 0 - Total 8 $ 790 9 $ 790 |
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 June 30, 2015, 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 1-4 Family Owner Occupied $ 5,153 $ 155 $ 2,262 $ - $ 135,130 $ 142,700 1-4 Family Non Owner Occupied 51,673 2,071 4,229 - 4,748 62,721 Total 1-4 Family Real Estate 56,826 2,226 6,491 - 139,878 205,421 Multi-Family Residential Real Estate 158,945 214 2,653 - 886 162,698 CRE Owner Occupied 287,339 22,652 6,826 - 930 317,747 CRE Non Owner Occupied 254,929 6,053 4,061 - 52 265,095 Agriculture Land 95,480 2,215 1,019 - - 98,714 Other CRE 39,321 62 3,277 - 522 43,182 Total Commercial Real Estate 677,069 30,982 15,183 - 1,504 724,738 Construction 77,346 347 - - 12,933 90,626 Commercial Working Capital 148,750 3,662 1,187 - - 153,599 Commercial Other 240,718 3,905 4,290 - - 248,913 Total Commercial 389,468 7,567 5,477 - - 402,512 Home Equity and Home Improvement - - 560 - 109,608 110,168 Consumer Finance - - 7 - 14,890 14,897 Total Loans $ 1,359,654 $ 41,336 $ 30,371 $ - $ 279,699 $ 1,711,060 As of December 31, 2014, 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 1-4 Family Owner Occupied $ 4,230 $ 131 $ 3,048 $ 365 $ 135,306 $ 143,080 1-4 Family Non Owner Occupied 51,327 2,404 4,872 7 5,174 63,784 Total 1-4 Family Real Estate 55,557 2,535 7,920 372 140,480 206,864 Multi-Family Residential Real Estate 152,290 220 3,236 - 914 156,660 CRE Owner Occupied 273,406 18,448 9,953 - 1,175 302,982 CRE Non Owner Occupied 224,073 7,898 13,186 - 27 245,184 Agriculture Land 90,875 1,849 819 - - 93,543 Other CRE 40,147 63 3,466 - 572 44,248 Total Commercial Real Estate 628,501 28,258 27,424 - 1,774 685,957 Construction 62,355 - 150 - 11,217 73,722 Commercial Working Capital 128,229 6,287 1,444 - - 135,960 Commercial Other 253,576 6,504 4,991 - - 265,071 Total Commercial 381,805 12,791 6,435 - - 401,031 Home Equity and Home Improvement - - 1,647 106 110,529 112,282 Consumer Finance - - 125 - 15,326 15,451 Total Loans $ 1,280,508 $ 43,804 $ 46,937 $ 478 $ 280,240 $ 1,651,967 |
Mortgage Banking (Tables)
Mortgage Banking (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Mortgage Banking [Abstract] | |
Mortgage Loans [Table Text Block] | Net revenues from the sales and servicing of mortgage loans consisted of the following Three Months Ended Six Months Ended 2015 2014 2015 2014 (In Thousands) (In Thousands) Gain from sale of mortgage loans $ 1,246 $ 986 $ 2,531 $ 1,628 Mortgage loans servicing revenue (expense): Mortgage loans servicing revenue 852 878 1,727 1,782 Amortization of mortgage servicing rights (446) (368) (857) (660) Mortgage servicing rights valuation adjustments 141 44 167 37 547 554 1,037 1,159 Net revenue from sale and servicing of mortgage loans $ 1,793 $ 1,540 $ 3,568 $ 2,787 |
Capitalized Mortgage and Valuation Allowance [Table Text Block] | Activity for capitalized mortgage servicing rights and the related valuation allowance follows for the three and six months ended June 30, 2015 and 2014: Three Months Ended Six Months Ended 2015 2014 2015 2014 (In Thousands) (In Thousands) Mortgage servicing assets: Balance at beginning of period $ 9,832 $ 10,048 $ 9,923 $ 10,133 Loans sold, servicing retained 486 313 806 520 Amortization (446) (368) (857) (660) Carrying value before valuation allowance at end of period 9,872 9,993 9,872 9,993 Valuation allowance: Balance at beginning of period (885) (1,034) (911) (1,027) Impairment recovery (charges) 141 44 167 37 Balance at end of period (744) (990) (744) (990) Net carrying value of MSRs at end of period $ 9,128 $ 9,003 $ 9,128 $ 9,003 Fair value of MSRs at end of period $ 9,574 $ 9,584 $ 9,574 $ 9,584 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Deposits [Abstract] | |
Deposits [Table Text Block] | A summary of deposit balances is as follows (in thousands): June 30, December 31, (In Thousands) Non-interest-bearing checking accounts $ 378,970 $ 379,552 Interest-bearing checking and money market accounts 722,813 727,729 Savings deposits 218,055 203,673 Retail certificates of deposit less than $250,000 419,990 422,907 Retail certificates of deposit greater than $250,000 23,562 26,952 $ 1,763,390 $ 1,760,813 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Subordinated Borrowings [Abstract] | |
Federal Home Loan Bank Advances Disclosure [Table Text Block] | June 30, December 31, (In Thousands) FHLB Advances: Single maturity fixed rate advances $ 27,000 $ - Putable advances 5,000 12,000 Amortizable mortgage advances 9,050 9,544 Total $ 41,050 $ 21,544 Junior subordinated debentures owed to unconsolidated subsidiary trusts $ 36,083 $ 36,083 |
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block] | The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of June 30, 2015 and December 31, 2014 is presented in the following tables. Overnight and Up to 30 30-90 Days Greater Total (In Thousands) At June 30, 2015 Repurchase agreements: Mortgage-backed securities residential $ 17,023 $ - $ - $ - $ 17,023 Collateralized mortgage obligations 37,214 - - - 37,214 Total borrowings $ 54,237 $ - $ - $ - $ 54,237 Gross amount of recognized liabilities for repurchase agreements $ 54,237 Overnight and Up to 30 30-90 Days Greater Total (In Thousands) At December 31, 2014 Repurchase agreements: Mortgage-backed securities residential $ 16,570 $ - $ - $ - $ 16,570 Collateralized mortgage obligations 38,189 - - - 38,189 Total borrowings $ 54,759 $ - $ - $ - $ 54,759 Gross amount of recognized liabilities for repurchase agreements $ 54,759 |
Commitments, Guarantees and C35
Commitments, Guarantees and Contingent Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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 as of the periods stated below were as follows (In Thousands): June 30, 2015 December 31, 2014 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 43,201 $ 99,351 $ 37,546 $ 69,232 Unused lines of credit 17,148 295,745 20,385 307,449 Standby letters of credit - 17,809 - 17,886 Total $ 60,349 $ 412,905 $ 57,931 $ 394,567 |
Derivative Financial Instrume36
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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. The table below provides data about the carrying values of these derivative instruments: June 30, 2015 December 31, 2014 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 Derivatives $ 732 $ - $ 732 $ 351 $ 24 $ 327 |
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: Three Months Ended Six Months Ended 2015 2014 2015 2014 (In Thousands) (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives Gain (Loss) $ (33) $ 128 $ 405 $ 178 |
Other Comprehensive Income (L37
Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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 in the accompanying consolidated condensed statements of income. Before Tax Tax Expense Net of Tax (In Thousands) Three months ended June 30, 2015: Securities available for sale and transferred securities: Change in net unrealized gain/loss during the period $ (3,839) $ (1,344) $ (2,495) Reclassification adjustment for net gains included in net income - - - Total other comprehensive loss $ (3,839) $ (1,344) $ (2,495) Six months ended June 30, 2015: Securities available for sale and transferred securities: Change in net unrealized gain/loss during the period $ (2,337) $ (817) $ (1,520) Reclassification adjustment for net gains included in net income - - - Total other comprehensive loss $ (2,337) $ (817) $ (1,520) Before Tax Tax Expense Net of Tax Three months ended June 30, 2014: Securities available for sale and transferred securities: Change in net unrealized gain (loss) during the period $ 2,743 $ 936 $ 1,807 Reclassification adjustment for net gains included in net income (471) (141) (330) Total other comprehensive loss $ 2,272 $ 795 $ 1,477 Before Tax Tax Expense Net of Tax Six months ended June 30, 2014: Securities available for sale and transferred securities: Change in net unrealized gain (loss) during the period $ 4,465 $ 1,538 $ 2,927 Reclassification adjustment for net gains included in net income (471) (141) (330) Total other comprehensive loss $ 3,994 $ 1,397 $ 2,597 |
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, 2015 $ 4,697 $ (583) $ 4,114 Other comprehensive income before reclassifications (1,520) - (1,520) Amounts reclassified from accumulated other comprehensive income - - - Net other comprehensive income during period (1,520) - (1,520) Balance June 30, 2015 $ 3,177 $ (583) $ 2,594 Balance January 1, 2014 $ 906 $ (361) $ 545 Other comprehensive income before reclassifications 2,927 - 2,927 Amounts reclassified from accumulated other comprehensive income (330) - (330) Net other comprehensive income during period 2,597 - 2,597 Balance June 30, 2014 $ 3,503 $ (361) $ 3,142 |
Affordable Housing Projects T38
Affordable Housing Projects Tax Credit Partnership (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Affordable Housing Projects Tax Credit Partnership [Abstract] | |
Other Commitments [Table Text Block] | As of June 30, 2015, the expected payments for unfunded affordable housing commitments were as follows: (dollars in thousands) Amount 2015 $ 1,333 2016 612 2017 160 2018 414 2019 93 Thereafter 312 Total Unfunded Commitments $ 2,924 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The following table presents tax credits and other tax benefits recognized and amortization expense related to affordable housing for the three and six months ended June 30, 2015 and 2014. Three Months Ended June 30, (dollars in thousands) 2015 2014 Proportional Amortization Method Tax credits and other tax benefits recognized $ 118 $ 332 Amortization expense in federal income taxes 89 44 Six Months Ended June 30, (dollars in thousands) 2015 2014 Proportional Amortization Method Tax credits and other tax benefits recognized $ 236 $ 332 Amortization expense in federal income taxes 179 44 |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Available for sale securities: | ||
Available for sale securities, Total Fair Value | $ 237,012 | $ 239,321 |
Obligations of U.S. Government corporations and agencies [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 2,982 | 980 |
Obligations of U.S. Government corporations and agencies [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Obligations of U.S. Government corporations and agencies [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 2,982 | 980 |
Obligations of U.S. Government corporations and agencies [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage-backed - residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 59,713 | 59,856 |
Mortgage-backed - residential [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage-backed - residential [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 59,713 | 59,856 |
Mortgage-backed - residential [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
REMIC [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1,751 | 1,839 |
REMIC [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
REMIC [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1,751 | 1,839 |
REMIC [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Collateralized mortgage obligations [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 77,287 | 81,121 |
Collateralized mortgage obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Collateralized mortgage obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 77,287 | 81,121 |
Collateralized mortgage obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Preferred Stock [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1 | 1 |
Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1 | 1 |
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 bonds [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 5,993 | 6,992 |
Corporate bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1,995 | 1,989 |
Corporate bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 3,998 | 5,003 |
Corporate bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Obligations of state and political subdivisions [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 89,285 | 88,532 |
Obligations of state and political subdivisions [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Obligations of state and political subdivisions [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 89,285 | 88,532 |
Obligations of state and political subdivisions [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 | 732 | 351 |
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 | 732 | 351 |
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 | 24 |
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 | 24 |
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) - Jun. 30, 2014 - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | Total | Total |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Beginning balance | $ 704 | $ 582 |
Total gains or (losses) (realized/unrealized) | ||
Included in earnings (unrealized) | (329) | (329) |
Included in other comprehensive income (presented gross of taxes) | 871 | 993 |
Amortization | 0 | 0 |
Sales | (1,246) | (1,246) |
Transfers in and/or out of Level 3 | 0 | 0 |
Ending balance | $ 0 | $ 0 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Impaired loans | ||
Total impaired loans | $ 5,975 | $ 7,791 |
Mortgage servicing rights | 954 | 1,034 |
Real estate held for sale | ||
Total real estate held for sale | 408 | 739 |
One To Four Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 408 | 419 |
Multi Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 107 | 269 |
Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 5,304 | 6,665 |
Real estate held for sale | ||
Total real estate held for sale | 342 | 739 |
Home Equity and Improvement [Member] | ||
Impaired loans | ||
Total impaired loans | 95 | 98 |
Residential Mortgage [Member] | ||
Real estate held for sale | ||
Total real estate held for sale | 66 | 0 |
Commercial Loan [Member] | ||
Impaired loans | ||
Total impaired loans | 61 | 340 |
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 |
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Home Equity and 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 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Mortgage servicing rights | 954 | 1,034 |
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 |
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Home Equity and 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 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | ||
Total impaired loans | 5,975 | 7,791 |
Mortgage servicing rights | 0 | 0 |
Real estate held for sale | ||
Total real estate held for sale | 408 | 739 |
Fair Value, Inputs, Level 3 [Member] | One To Four Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 408 | 419 |
Fair Value, Inputs, Level 3 [Member] | Multi Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 107 | 269 |
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 5,304 | 6,665 |
Real estate held for sale | ||
Total real estate held for sale | 342 | 739 |
Fair Value, Inputs, Level 3 [Member] | Home Equity and Improvement [Member] | ||
Impaired loans | ||
Total impaired loans | 95 | 98 |
Fair Value, Inputs, Level 3 [Member] | Residential Mortgage [Member] | ||
Real estate held for sale | ||
Total real estate held for sale | 66 | 0 |
Fair Value, Inputs, Level 3 [Member] | Commercial Loan [Member] | ||
Impaired loans | ||
Total impaired loans | $ 61 | $ 340 |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Impaired Loans- Applies to all loan classes, Fair Value | $ 5,975 | $ 7,791 |
Real estate held for sale - Applies to all classes, Fair Value | 408 | 739 |
Range of Input 10-30% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Impaired Loans- Applies to all loan classes, Fair Value | $ 5,975 | $ 7,791 |
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 | 10.00% | 10.00% |
Fair Value, Range of Input, Maximum | 30.00% | 30.00% |
Fair Value Measurement Weighted Average Range | 11.00% | 11.00% |
Range of Input 20-40% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Real estate held for sale - Applies to all classes, Fair Value | $ 739 | |
Valuation Technique, Fair Value | Appraisals which utilize sales comparison, net income and cost approach | |
Unobservable Inputs, Fair Value | Discounts for changes in market conditions | |
Fair Value, Range of Input, Minimum | 20.00% | |
Fair Value, Range of Input, Maximum | 40.00% | |
Fair Value Measurement Weighted Average Range | 28.00% | |
Range of Input 20-30% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Real estate held for sale - Applies to all classes, Fair Value | $ 408 | |
Valuation Technique, Fair Value | Appraisals which utilize sales comparison, net income and cost approach | |
Unobservable Inputs, Fair Value | Discounts for changes in market conditions | |
Fair Value, Range of Input, Minimum | 20.00% | |
Fair Value, Range of Input, Maximum | 30.00% | |
Fair Value Measurement Weighted Average Range | 27.00% |
Fair Value (Details 4)
Fair Value (Details 4) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Financial Assets, Carrying Value: | ||||
Cash and cash equivalents, Carrying Value | $ 65,586 | $ 112,936 | $ 156,246 | $ 179,318 |
Investment securities, Carrying Value | 237,269 | 239,634 | ||
Federal Home Loan Bank stock, Carrying Value | 13,802 | 13,802 | ||
Loans, net, including loans held for sale, Carrying Value | 1,690,125 | 1,626,555 | ||
Accrued interest receivable, Carrying Value | 6,204 | 6,037 | ||
Financial Liabilities, Carrying Value: | ||||
Deposits, Carrying Value | 1,763,390 | 1,760,813 | ||
Advances from Federal Home Loan Bank, Carrying Value | 41,050 | 21,544 | ||
Securities sold under repurchase agreements, Carrying Value | 54,237 | 54,759 | ||
Subordinated debentures, Carrying Value | 36,083 | 36,083 | ||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 65,586 | 112,936 | ||
Investment securities, Fair Value | 237,273 | 239,629 | ||
Loans, net, including loans held for sale, Fair Value | 1,699,398 | 1,632,507 | ||
Accrued interest receivable, Fair Value | 6,204 | 6,037 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 1,766,560 | 1,762,733 | ||
Advances from Federal Home Loan Bank, Fair Value | 41,209 | 21,772 | ||
Securities sold under repurchase agreements, Fair Value | 54,237 | 54,759 | ||
Subordinated debentures, Fair Value | 35,318 | 35,307 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 65,586 | 112,936 | ||
Investment securities, Fair Value | 1,996 | 1,990 | ||
Loans, net, including loans held for sale, Fair Value | 0 | 0 | ||
Accrued interest receivable, Fair Value | 0 | 3 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 378,970 | 379,552 | ||
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 | 235,277 | 237,639 | ||
Loans, net, including loans held for sale, Fair Value | 10,216 | 4,741 | ||
Accrued interest receivable, Fair Value | 860 | 846 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 1,387,590 | 1,383,181 | ||
Advances from Federal Home Loan Bank, Fair Value | 41,209 | 21,772 | ||
Securities sold under repurchase agreements, Fair Value | 54,237 | 54,759 | ||
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 | 0 | 0 | ||
Loans, net, including loans held for sale, Fair Value | 1,689,182 | 1,627,766 | ||
Accrued interest receivable, Fair Value | 5,344 | 5,188 | ||
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 | $ 35,318 | $ 35,307 |
Fair Value (Details Textual)
Fair Value (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | $ 5,975,000 | $ 5,975,000 | $ 7,791,000 | ||
Impaired Financing Receivables, Provisional Expenses | 98,000 | $ 725,000 | 719,000 | $ 1,500,000 | |
Mortgage Servicing Rights at Fair Value | 954,000 | 954,000 | 1,034,000 | ||
Valuation Allowance of Mortgage Servicing Rights | 743,000 | 743,000 | 911,000 | ||
Proceeds from Collection of Loans Receivable | 141,000 | 44,000 | 167,000 | 37,000 | |
Real Estate Held-for-sale, Increase (Decrease) in Fair Value | 182,000 | $ 73,000 | 705,000 | $ 73,000 | |
Impaired Financing Receivable, Related Allowance | 538,000 | $ 538,000 | 1,273,000 | ||
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% | ||||
Collateral dependent loans [Member] | |||||
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 6,000,000 | $ 6,000,000 | 7,800,000 | ||
Impaired Financing Receivable, Related Allowance | $ 12,000 | $ 12,000 | $ 19,000 |
Stock Compensation Plans (Detai
Stock Compensation Plans (Details) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Expected average risk-free rate | 2.04% | 1.64% |
Expected average life | 10 years | 7 years 5 months 8 days |
Expected volatility | 42.00% | 44.62% |
Expected dividend yield | 2.10% | 2.17% |
Stock Compensation Plans (Det46
Stock Compensation Plans (Details 1) - Jun. 30, 2015 - USD ($) $ / shares in Units, $ in Thousands | Total |
Options outstanding, January 1, 2015 | 173,720 |
Options Outstanding, Forfeited or cancelled | (5,100) |
Options Outstanding, Exercised | (78,050) |
Options Outstanding, Granted | 6,250 |
Options outstanding, June 30, 2015 | 96,820 |
Options Outstanding, Vested or expected to vest at June 30, 2015 | 96,820 |
Options Outstanding, Exercisable at June 30, 2015 | 82,170 |
Weighted Average Exercise Price, Outstanding, January 1, 2015 | $ 20.8 |
Weighted Average Exercise Price, Forfeited or cancelled | 25.36 |
Weighted Average Exercise Price, Exercised | 22.01 |
Weighted Average Exercise Price, Granted | 32.94 |
Weighted Average Exercise Price, Outstanding, June 30, 2015 | 20.37 |
Weighted Average Exercise Price, Vested or expected to vest at June 30, 2015 | 20.37 |
Weighted Average Exercise Price, Exercisable at June 30, 2015 | $ 18.74 |
Weighted Average Remaining Contractual Term (in years), Outstanding, June 30, 2015 | 3 years 8 months 19 days |
Weighted Average Remaining Contractual Term (in years), Vested or expected to vest at June 30, 2015 | 3 years 8 months 19 days |
Weighted Average Remaining Contractual Term (in years), Exercisable at June 30, 2015 | 2 years 9 months 7 days |
Aggregate Intrinsic Value, Outstanding, June 30, 2015 | $ 1,661 |
Aggregate Intrinsic Value, Vested or expected to vest at June 30, 2015 | 1,661 |
Aggregate Intrinsic Value, Exercisable at June 30, 2015 | $ 1,544 |
Stock Compensation Plans (Det47
Stock Compensation Plans (Details 2) - 6 months ended Jun. 30, 2015 - $ / shares | Total |
Shares, Unvested at June 30, 2015 | 7,927 |
Restricted Stock Units (RSUs) [Member] | |
Shares, Unvested at January 1, 2015 | 91,812 |
Shares, Granted | 24,757 |
Shares, Vested | (12,846) |
Shares, Forfeited | (29,178) |
Shares, Unvested at June 30, 2015 | 74,545 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2015 | $ 21 |
Weighted-Average Grant Date Fair Value, Granted | 32.3 |
Weighted-Average Grant Date Fair Value, Vested | 17.2 |
Weighted-Average Grant Date Fair Value, Forfeited | 19.48 |
Weighted-Average Grant Date Fair Value, Unvested at June 30, 2015 | $ 25.86 |
Stock Grants [Member] | |
Shares, Unvested at January 1, 2015 | 5,767 |
Shares, Granted | 15,006 |
Shares, Vested | (12,846) |
Shares, Forfeited | 0 |
Shares, Unvested at June 30, 2015 | 7,927 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2015 | $ 25.97 |
Weighted-Average Grant Date Fair Value, Granted | 19.51 |
Weighted-Average Grant Date Fair Value, Vested | 17.2 |
Weighted-Average Grant Date Fair Value, Forfeited | 0 |
Weighted-Average Grant Date Fair Value, Unvested at June 30, 2015 | $ 27.95 |
Stock Compensation Plans (Det48
Stock Compensation Plans (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 96,820 | 173,720 | |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | $ 157,000 | ||
Employee Service Share Based Compensation Nonvested Awards, Total Compensation Cost Not Yet Recognized, Period For Recognition (in years) | 4 years 22 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 7,927 | ||
Allocated Share-based Compensation Expense | $ 477,000 | $ 130,000 | |
Compensation Expense, Maximum | 3,600,000 | ||
Estimated Compensation Expense, Excepted | 1,800,000 | ||
Unrecognized Compensation Expense | $ 967,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 13.13 | $ 11.25 | |
Short-term Equity Incentive Plan 2013 [Member] | |||
Option Subscription, Description | The final amount of benefits under the 2014 STIP were determined as of December 31, 2014 and paid out in cash in the first quarter of 2015. | ||
Equity Plan 2010 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 350,000 | ||
Long-term Equity Incentive Plan 2014 [Member] | |||
Option Subscription, Description | The amount of benefit under the 2014 LTIP will be determined individually at the end of the 36 month performance period ending December 31, 2016. The awards will vest at the end of the performance period ending December 31, 2016. The benefits earned under the 2014 LTIP will be paid out in equity in the first quarter of 2017. The participants are required to be employed on the day of payout in order to receive such payment. | ||
Restricted Stock Units (Rsus) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 24,757 | 30,538 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 74,545 | 91,812 | |
Restricted Stock Units (Rsus) [Member] | Director [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 2,160 | ||
Short-term and Long-term Equity Incentive Plan 2011 [Member] | |||
Allocated Share-based Compensation Expense | $ 193,000 | ||
Stock Option Grant, 2009 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Vested Percentage, Year | 20.00% | ||
Stock Option Grant, 2011 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Vested Percentage, Year | 40.00% | ||
Stock Option Grant, Annual [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Vested Percentage, Year | 20.00% | ||
Short Term Equity Incentive Plan 2014 [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | ||
Short Term Equity Incentive Plan 2014 [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 30.00% | ||
Long Term Equity Incentive Plan 2014 [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | ||
Long Term Equity Incentive Plan 2014 [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 20.00% | ||
Long Term Equity Incentive Plan 2015 [Member] | |||
Option Subscription, Description | The amount of benefit under the 2015 LTIP will be determined individually at the end of the 36 month performance period ending December 31, 2017. The awards will vest at the end of the performance period ending December 31, 2017. The benefits earned under the 2015 LTIP will be paid out in equity in the first quarter of 2018. The participants are required to be employed on the day of payout in order to receive such payment. | ||
Long Term Equity Incentive Plan 2015 [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | ||
Long Term Equity Incentive Plan 2015 [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 20.00% | ||
Short Term Equity Incentive Plan 2015 [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | ||
Short Term Equity Incentive Plan 2015 [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 30.00% |
Dividends on Common Stock (Deta
Dividends on Common Stock (Details Textual) - $ / shares | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.175 | $ 0.15 | $ 0.20 | $ 0.15 | ||
Common Stock, Dividends, Per Share, Declared | $ 0.2 | $ 0.175 | $ 0.15 | $ 0.15 | $ 0.375 | $ 0.30 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Numerator for basic and diluted earnings per common share - Net income | $ 6,563 | $ 5,689 | $ 13,164 | $ 10,868 |
Denominator: | ||||
Denominator for basic earnings per common share - weighted average common shares, including participating securities | 9,268 | 9,607 | 9,251 | 9,644 |
Effect of warrants | 0 | 350 | 147 | 345 |
Effect of employee stock options and restricted share activity | 81 | 109 | 85 | 107 |
Denominator for diluted earnings per common share | 9,349 | 10,066 | 9,483 | 10,096 |
Basic earnings per common share | $ 0.71 | $ 0.59 | $ 1.42 | $ 1.13 |
Diluted earnings per common share | $ 0.7 | $ 0.57 | $ 1.39 | $ 1.08 |
Earnings Per Common Share (De51
Earnings Per Common Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 6,750 | 1,000 | 16,750 | 35,000 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | ||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | $ 232,125 | $ 232,097 | |
Available-for-Sale Securities, Gross Unrealized Gains | 5,732 | 7,688 | |
Available-for-Sale Securities, Gross Unrealized Losses | (845) | (464) | |
Available-for-Sale Securities, Fair Value | 237,012 | 239,321 | |
Held-to-Maturity Securities: | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 257 | 313 |
Held-to-Maturity Securities, Gross Unrealized Gains | [1] | 4 | 3 |
Held-to-Maturity Securities, Gross Unrealized Losses | [1] | 0 | (8) |
Held-to-Maturity Securities, Fair Value | [1] | 261 | 308 |
Obligations of U.S. government corporations and agencies | |||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | 3,000 | 1,000 | |
Available-for-Sale Securities, Gross Unrealized Gains | 0 | 0 | |
Available-for-Sale Securities, Gross Unrealized Losses | (18) | (20) | |
Available-for-Sale Securities, Fair Value | 2,982 | 980 | |
Mortgage-backed securities - residential | |||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | 59,181 | 58,380 | |
Available-for-Sale Securities, Gross Unrealized Gains | 768 | 1,476 | |
Available-for-Sale Securities, Gross Unrealized Losses | (236) | 0 | |
Available-for-Sale Securities, Fair Value | 59,713 | 59,856 | |
REMICs | |||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | 1,722 | 1,820 | |
Available-for-Sale Securities, Gross Unrealized Gains | 29 | 19 | |
Available-for-Sale Securities, Gross Unrealized Losses | 0 | 0 | |
Available-for-Sale Securities, Fair Value | 1,751 | 1,839 | |
Collateralized mortgage obligations | |||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | 76,556 | 80,252 | |
Available-for-Sale Securities, Gross Unrealized Gains | 1,094 | 1,280 | |
Available-for-Sale Securities, Gross Unrealized Losses | (363) | (411) | |
Available-for-Sale Securities, Fair Value | 77,287 | 81,121 | |
Trust preferred stock and preferred stock | |||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | 0 | 0 | |
Available-for-Sale Securities, Gross Unrealized Gains | 1 | 1 | |
Available-for-Sale Securities, Gross Unrealized Losses | 0 | 0 | |
Available-for-Sale Securities, Fair Value | 1 | 1 | |
Corporate bonds | |||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | 5,935 | 6,913 | |
Available-for-Sale Securities, Gross Unrealized Gains | 62 | 85 | |
Available-for-Sale Securities, Gross Unrealized Losses | (4) | (6) | |
Available-for-Sale Securities, Fair Value | 5,993 | 6,992 | |
Obligations of state and political subdivisions | |||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | 85,731 | 83,732 | |
Available-for-Sale Securities, Gross Unrealized Gains | 3,778 | 4,827 | |
Available-for-Sale Securities, Gross Unrealized Losses | (224) | (27) | |
Available-for-Sale Securities, Fair Value | 89,285 | 88,532 | |
Held-to-Maturity Securities: | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 124 | 155 |
Held-to-Maturity Securities, Gross Unrealized Gains | [1] | 0 | 0 |
Held-to-Maturity Securities, Gross Unrealized Losses | [1] | 0 | 0 |
Held-to-Maturity Securities, Fair Value | [1] | 124 | 155 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | |||
Held-to-Maturity Securities: | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 16 | 26 |
Held-to-Maturity Securities, Gross Unrealized Gains | [1] | 0 | 0 |
Held-to-Maturity Securities, Gross Unrealized Losses | [1] | 0 | (8) |
Held-to-Maturity Securities, Fair Value | [1] | 16 | 18 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | |||
Held-to-Maturity Securities: | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 82 | 93 |
Held-to-Maturity Securities, Gross Unrealized Gains | [1] | 3 | 2 |
Held-to-Maturity Securities, Gross Unrealized Losses | [1] | 0 | 0 |
Held-to-Maturity Securities, Fair Value | [1] | 85 | 95 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | |||
Held-to-Maturity Securities: | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 35 | 39 |
Held-to-Maturity Securities, Gross Unrealized Gains | [1] | 1 | 1 |
Held-to-Maturity Securities, Gross Unrealized Losses | [1] | 0 | 0 |
Held-to-Maturity Securities, Fair Value | [1] | $ 36 | $ 40 |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investment Securities (Details
Investment Securities (Details 1) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Available-for-sale, Due in one year or less, Amortized Cost | $ 1,246 | ||
Available-for-sale, Due after one year through five years, Amortized Cost | 14,772 | ||
Available-for-sale, Due after five years through ten years, Amortized Cost | 36,311 | ||
Available-for-sale, Due after ten years, Amortized Cost | 42,337 | ||
Available-for-sale, MBS/CMO/REMIC, Amortized Cost | 137,459 | ||
Available-for-sale, Amortized Cost | 232,125 | ||
Available-for-sale, Due in one year or less, Fair Value | 1,256 | ||
Available-for-sale, Due after one year through five years, Fair Value | 15,078 | ||
Available-for-sale, Due after five years through ten years, Fair Value | 38,157 | ||
Available-for-sale, Due after ten years, Fair Value | 43,770 | ||
Available-for-sale, MBS/CMO/REMIC, Fair Value | 138,751 | ||
Available-for-sale, Fair Value | 237,012 | $ 239,321 | |
Held-to-maturity Securities, Due in one year or less, Amortized Cost | 0 | ||
Held-to-maturity Securities, Due after one year through five years,Amorized Cost | 124 | ||
Held-to-maturity,Securities, Due after five years through ten years, Amortized Cost | 0 | ||
Held-to-maturity Securities, Due after ten years, Amortized Cost | 0 | ||
Held-to-maturity, MBS/CMO, Amortized Cost | 133 | ||
Held-to-maturity, Amortized Cost | [1] | 257 | 313 |
Held-to-maturity Securities, Due in one year or less, Fair Value | 0 | ||
Held-to-maturity Securities, Due after one year through five years, Fair Value | 124 | ||
Held-to-maturity, Securites, Due after five years through ten years, Fair Value | 0 | ||
Held-to-maturity Securities, Due after ten years, Fair Value | 0 | ||
Held-to-maturity, MBS/CMO, Fair Value | 137 | ||
Held-to-maturity, Fair Value | [1] | $ 261 | $ 308 |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investment Securities (Detail54
Investment Securities (Details 2) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Held to maturity securities: | ||
Total temporarily impaired securities, Duration Unrealized Loss Position, Less Than Twelve Months, Fair Value | $ 63,307 | $ 5,678 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Less Than 12 Months, Gross Unrealized Loss | (550) | (154) |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Twelve Months Or Longer, Fair Value | 11,728 | 18,106 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Gross Unrealized Loss | (295) | (318) |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Fair Value | 75,035 | 23,784 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Gross Unrealized Loss | (845) | (472) |
Federal Home Loan Mortgage Corporation Certificates and Obligations (Fhlmc) [Member] | ||
Held to maturity securities: | ||
Held-to-maturity Securities, Duration of Unrealized Loss Position, Less than Twelve Months, Fair Value | 18 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Less than 12 Months, Gross Unrealized Loss | (8) | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, 12 Months or Longer, Gross Unrealized Loss | 0 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Fair Value | 18 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Gross Unrealized Loss | (8) | |
Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 11,258 | 4,466 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (96) | (138) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 10,325 | 14,633 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (267) | (273) |
Available-for-sale securities, Total, Fair Value | 21,583 | 19,099 |
Available-for-sale securities, Total, Unrealized Loss | (363) | (411) |
Corporate Bond Securities [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 1,996 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (4) | 0 |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | 994 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | (6) |
Available-for-sale securities, Total, Fair Value | 1,996 | 994 |
Available-for-sale securities, Total, Unrealized Loss | (4) | (6) |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 14,101 | 1,194 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (208) | (8) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 415 | 1,499 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (16) | (19) |
Available-for-sale securities, Total, Fair Value | 14,516 | 2,693 |
Available-for-sale securities, Total, Unrealized Loss | (224) | (27) |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 33,958 | |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (236) | |
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 | 33,958 | |
Available-for-sale securities, Total, Unrealized Loss | (236) | |
Us Government Corporations and Agencies Securities [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 1,994 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (6) | 0 |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 988 | 980 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (12) | (20) |
Available-for-sale securities, Total, Fair Value | 2,982 | 980 |
Available-for-sale securities, Total, Unrealized Loss | $ (18) | $ (20) |
Investment Securities (Detail55
Investment Securities (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Proceeds | $ 0 | $ 2,128 | $ 0 | $ 3,782 |
Gross realized gains | 0 | 1,113 | 0 | 1,113 |
Gross realized losses | $ 0 | $ (642) | $ 0 | $ (642) |
Investment Securities (Detail56
Investment Securities (Details Textual) - Jun. 30, 2015 $ in Millions | USD ($) |
Security Owned and Pledged as Collateral Carrying Value | $ 134.3 |
Investment Portfolio, Number of Securities | 366 |
Investment Portfolio, Number of Securities, Unrealized Loss | 78 |
Loans (Details)
Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Real Estate: | ||||||
Real Estate | $ 1,230,283 | $ 1,159,310 | ||||
Other Loans: | ||||||
Other Loans | 525,852 | 527,009 | ||||
Total loans | 1,756,135 | 1,686,319 | ||||
Deduct: | ||||||
Undisbursed loan funds | (49,477) | (38,653) | ||||
Net deferred loan origination fees and costs | (942) | (880) | ||||
Allowance for loan loss | (25,384) | $ (25,302) | (24,766) | $ (24,627) | $ (24,783) | $ (24,950) |
Totals | 1,680,332 | 1,622,020 | ||||
One to Four Family Residential Real Estate [Member] | ||||||
Real Estate: | ||||||
Real Estate | 205,044 | 206,437 | ||||
Multi Family Residential [Member] | ||||||
Real Estate: | ||||||
Real Estate | 162,595 | 156,530 | ||||
Commercial Real Estate [Member] | ||||||
Real Estate: | ||||||
Real Estate | 722,530 | 683,958 | ||||
Construction Loans [Member] | ||||||
Real Estate: | ||||||
Real Estate | 140,114 | 112,385 | ||||
Commercial Loan [Member] | ||||||
Other Loans: | ||||||
Other Loans | 401,247 | 399,730 | ||||
Home Equity and Home Improvement [Member] | ||||||
Other Loans: | ||||||
Other Loans | 109,694 | 111,813 | ||||
Consumer Loan [Member] | ||||||
Other Loans: | ||||||
Other Loans | $ 14,911 | $ 15,466 |
Loans (Details 1)
Loans (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | $ 25,302 | $ 24,783 | $ 24,766 | $ 24,950 |
Charge-Offs | (380) | (1,146) | (661) | (2,322) |
Recoveries | 462 | 544 | 1,159 | 1,450 |
Provisions | 0 | 446 | 120 | 549 |
Ending Allowance | 25,384 | 24,627 | 25,384 | 24,627 |
One to Four Family Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 2,483 | 2,639 | 2,494 | 2,847 |
Charge-Offs | (12) | (42) | (90) | (270) |
Recoveries | 54 | 98 | 73 | 154 |
Provisions | 352 | (350) | 400 | (386) |
Ending Allowance | 2,877 | 2,345 | 2,877 | 2,345 |
Multi Family Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 2,554 | 2,615 | 2,453 | 2,508 |
Charge-Offs | (114) | 0 | (114) | 0 |
Recoveries | 0 | 2 | 0 | 5 |
Provisions | (171) | (137) | (70) | (33) |
Ending Allowance | 2,269 | 2,480 | 2,269 | 2,480 |
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 11,684 | 11,987 | 11,268 | 12,000 |
Charge-Offs | (31) | (39) | (186) | (267) |
Recoveries | 167 | 200 | 764 | 922 |
Provisions | 276 | (672) | 250 | (1,179) |
Ending Allowance | 12,096 | 11,476 | 12,096 | 11,476 |
Construction Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 303 | 138 | 221 | 134 |
Charge-Offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 5 | 61 | 87 | 65 |
Ending Allowance | 308 | 199 | 308 | 199 |
Commercial Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 6,766 | 5,610 | 6,509 | 5,678 |
Charge-Offs | (23) | (973) | (25) | (1,498) |
Recoveries | 173 | 173 | 213 | 249 |
Provisions | (1,349) | 1,389 | (1,130) | 1,770 |
Ending Allowance | 5,567 | 6,199 | 5,567 | 6,199 |
Home Equity and Home Improvement [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 1,420 | 1,647 | 1,704 | 1,635 |
Charge-Offs | (187) | (80) | (230) | (264) |
Recoveries | 51 | 55 | 80 | 86 |
Provisions | 823 | 158 | 553 | 323 |
Ending Allowance | 2,107 | 1,780 | 2,107 | 1,780 |
Consumer Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Beginning Allowance | 92 | 147 | 117 | 148 |
Charge-Offs | (13) | (12) | (16) | (23) |
Recoveries | 17 | 16 | 29 | 34 |
Provisions | 64 | (3) | 30 | (11) |
Ending Allowance | $ 160 | $ 148 | $ 160 | $ 148 |
Loans (Details 2)
Loans (Details 2) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | $ 538 | $ 1,273 |
Collectively evaluated for impairment | 24,846 | 23,493 |
Total ending allowance balance | 25,384 | 24,766 |
Loans: | ||
Loans individually evaluated for impairment | 40,001 | 49,045 |
Loans collectively evaluated for impairment | 1,670,879 | 1,602,736 |
Loans acquired with deteriorated credit quality | 180 | 186 |
Total ending loans balance | 1,711,060 | 1,651,967 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Ending allowance balance attributable to loans: | ||
Total ending allowance balance | 0 | 0 |
One to Four Family Residential Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 248 | 216 |
Collectively evaluated for impairment | 2,629 | 2,278 |
Total ending allowance balance | 2,877 | 2,494 |
Loans: | ||
Loans individually evaluated for impairment | 9,807 | 10,281 |
Loans collectively evaluated for impairment | 195,613 | 196,582 |
Loans acquired with deteriorated credit quality | 1 | 1 |
Total ending loans balance | 205,421 | 206,864 |
One to Four Family Residential Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Ending allowance balance attributable to loans: | ||
Total ending allowance balance | 0 | 0 |
Multi Family Residential Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 2,269 | 2,453 |
Total ending allowance balance | 2,269 | 2,453 |
Loans: | ||
Loans individually evaluated for impairment | 2,256 | 2,482 |
Loans collectively evaluated for impairment | 160,442 | 154,178 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 162,698 | 156,660 |
Multi Family Residential Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Ending allowance balance attributable to loans: | ||
Total ending allowance balance | 0 | 0 |
Commercial Real Estate [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 220 | 1,003 |
Collectively evaluated for impairment | 11,876 | 10,265 |
Total ending allowance balance | 12,096 | 11,268 |
Loans: | ||
Loans individually evaluated for impairment | 20,358 | 28,117 |
Loans collectively evaluated for impairment | 704,220 | 657,677 |
Loans acquired with deteriorated credit quality | 160 | 163 |
Total ending loans balance | 724,738 | 685,957 |
Commercial Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Ending allowance balance attributable to loans: | ||
Total ending allowance balance | 0 | 0 |
Construction Loans [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 308 | 221 |
Total ending allowance balance | 308 | 221 |
Loans: | ||
Loans individually evaluated for impairment | 0 | 150 |
Loans collectively evaluated for impairment | 90,626 | 73,572 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 90,626 | 73,722 |
Construction Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Ending allowance balance attributable to loans: | ||
Total ending allowance balance | 0 | 0 |
Commercial Loan [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 13 | 30 |
Collectively evaluated for impairment | 5,554 | 6,479 |
Total ending allowance balance | 5,567 | 6,509 |
Loans: | ||
Loans individually evaluated for impairment | 5,124 | 5,739 |
Loans collectively evaluated for impairment | 397,369 | 395,270 |
Loans acquired with deteriorated credit quality | 19 | 22 |
Total ending loans balance | 402,512 | 401,031 |
Commercial Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Ending allowance balance attributable to loans: | ||
Total ending allowance balance | 0 | 0 |
Home Equity and Home Improvement [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 25 | 24 |
Collectively evaluated for impairment | 2,082 | 1,680 |
Total ending allowance balance | 2,107 | 1,704 |
Loans: | ||
Loans individually evaluated for impairment | 2,394 | 2,242 |
Loans collectively evaluated for impairment | 107,774 | 110,040 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 110,168 | 112,282 |
Home Equity and Home Improvement [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Ending allowance balance attributable to loans: | ||
Total ending allowance balance | 0 | 0 |
Consumer Finance [Member] | ||
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | 32 | 0 |
Collectively evaluated for impairment | 128 | 117 |
Total ending allowance balance | 160 | 117 |
Loans: | ||
Loans individually evaluated for impairment | 62 | 34 |
Loans collectively evaluated for impairment | 14,835 | 15,417 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 14,897 | 15,451 |
Consumer Finance [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Ending allowance balance attributable to loans: | ||
Total ending allowance balance | $ 0 | $ 0 |
Loans (Details 3)
Loans (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | $ 40,396 | $ 50,369 | $ 40,600 | $ 51,776 |
Interest Income Recognized | 353 | 401 | 705 | 807 |
Cash Basis Income Recognized | 352 | 394 | 717 | 798 |
Residential Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 5,819 | 6,133 | 5,905 | 6,231 |
Interest Income Recognized | 68 | 81 | 136 | 166 |
Cash Basis Income Recognized | 67 | 75 | 135 | 158 |
Residential Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 4,027 | 3,715 | 4,187 | 3,900 |
Interest Income Recognized | 38 | 32 | 79 | 70 |
Cash Basis Income Recognized | 39 | 33 | 79 | 71 |
Total Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 9,846 | 9,848 | 10,092 | 10,131 |
Interest Income Recognized | 106 | 113 | 215 | 236 |
Cash Basis Income Recognized | 106 | 108 | 214 | 229 |
Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 0 | 261 | 75 | 261 |
Interest Income Recognized | 0 | 3 | 2 | 6 |
Cash Basis Income Recognized | 0 | 4 | 2 | 9 |
Multi Family Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 2,408 | 369 | 2,435 | 378 |
Interest Income Recognized | 5 | 1 | 13 | 2 |
Cash Basis Income Recognized | 6 | 1 | 14 | 2 |
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 6,711 | 8,967 | 6,612 | 9,402 |
Interest Income Recognized | 41 | 37 | 78 | 73 |
Cash Basis Income Recognized | 29 | 33 | 68 | 68 |
Commercial Real Estate Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 9,452 | 18,469 | 9,820 | 18,912 |
Interest Income Recognized | 111 | 201 | 244 | 405 |
Cash Basis Income Recognized | 129 | 204 | 264 | 408 |
Agriculture Land [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 2,228 | 683 | 1,494 | 685 |
Interest Income Recognized | 25 | 5 | 32 | 8 |
Cash Basis Income Recognized | 15 | 3 | 28 | 5 |
Commercial Real Estate Other Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 2,118 | 1,788 | 2,280 | 1,825 |
Interest Income Recognized | 16 | 5 | 26 | 10 |
Cash Basis Income Recognized | 16 | 6 | 25 | 11 |
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 20,509 | 29,907 | 20,206 | 30,824 |
Interest Income Recognized | 193 | 248 | 380 | 496 |
Cash Basis Income Recognized | 189 | 246 | 385 | 492 |
Commercial Working Capital [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 1,537 | 3,286 | 1,702 | 3,105 |
Interest Income Recognized | 14 | 8 | 27 | 11 |
Cash Basis Income Recognized | 12 | 8 | 25 | 11 |
Commercial Loans Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 3,622 | 4,552 | 3,731 | 4,756 |
Interest Income Recognized | 13 | 2 | 26 | 4 |
Cash Basis Income Recognized | 17 | 1 | 35 | 3 |
Commercial Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 5,159 | 7,838 | 5,433 | 7,861 |
Interest Income Recognized | 27 | 10 | 53 | 15 |
Cash Basis Income Recognized | 29 | 9 | 60 | 14 |
Home Equity and Home Improvement [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 2,409 | 2,095 | 2,305 | 2,267 |
Interest Income Recognized | 21 | 25 | 41 | 50 |
Cash Basis Income Recognized | 21 | 25 | 41 | 50 |
Consumer Finance [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Average Balance | 65 | 51 | 54 | 54 |
Interest Income Recognized | 1 | 1 | 1 | 2 |
Cash Basis Income Recognized | $ 1 | $ 1 | $ 1 | $ 2 |
Loans (Details 4)
Loans (Details 4) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | $ 27,154 | $ 32,206 |
Recorded Investment, With no allowance | 25,784 | 29,981 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 14,920 | 19,919 |
Recorded Investment, With an Allowance | 14,217 | 19,064 | |
Allowance for Loan Losses Allocated, With an Allowance | 538 | 1,273 | |
Residential Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 3,713 | 3,967 |
Recorded Investment, With no allowance | 3,606 | 3,859 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 2,183 | 2,112 |
Recorded Investment, With an Allowance | 2,186 | 2,114 | |
Allowance for Loan Losses Allocated, With an Allowance | 241 | 204 | |
Residential Non Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 3,526 | 3,763 |
Recorded Investment, With no allowance | 3,517 | 3,670 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 494 | 636 |
Recorded Investment, With an Allowance | 498 | 638 | |
Allowance for Loan Losses Allocated, With an Allowance | 7 | 12 | |
One To Four Family Residential Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 7,239 | 7,730 |
Recorded Investment, With no allowance | 7,123 | 7,529 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 2,677 | 2,748 |
Recorded Investment, With an Allowance | 2,684 | 2,752 | |
Allowance for Loan Losses Allocated, With an Allowance | 248 | 216 | |
Multi Family Residential Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 2,408 | 2,627 |
Recorded Investment, With no allowance | 2,256 | 2,482 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 0 | 0 |
Recorded Investment, With an Allowance | 0 | 0 | |
Allowance for Loan Losses Allocated, With an Allowance | 0 | 0 | |
Commercial Real Estate Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 4,249 | 7,109 |
Recorded Investment, With no allowance | 3,903 | 6,481 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 3,231 | 2,667 |
Recorded Investment, With an Allowance | 2,832 | 2,257 | |
Allowance for Loan Losses Allocated, With an Allowance | 169 | 148 | |
Commercial Real Estate Non Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 2,406 | 4,106 |
Recorded Investment, With no allowance | 2,144 | 3,759 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 7,156 | 13,020 |
Recorded Investment, With an Allowance | 7,093 | 12,606 | |
Allowance for Loan Losses Allocated, With an Allowance | 44 | 842 | |
Agriculture Land [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 2,134 | 213 |
Recorded Investment, With no allowance | 2,183 | 208 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 123 | 333 |
Recorded Investment, With an Allowance | 112 | 320 | |
Allowance for Loan Losses Allocated, With an Allowance | 1 | 10 | |
Commercial Real Estate Other Receivables [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 2,073 | 2,923 |
Recorded Investment, With no allowance | 1,751 | 2,378 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 583 | 137 |
Recorded Investment, With an Allowance | 340 | 108 | |
Allowance for Loan Losses Allocated, With an Allowance | 6 | 3 | |
Commercial Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 10,862 | 14,351 |
Recorded Investment, With no allowance | 9,981 | 12,826 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 11,093 | 16,157 |
Recorded Investment, With an Allowance | 10,377 | 15,291 | |
Allowance for Loan Losses Allocated, With an Allowance | 220 | 1,003 | |
Construction [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 0 | 150 |
Recorded Investment, With no allowance | 0 | 150 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 0 | 0 |
Recorded Investment, With an Allowance | 0 | 0 | |
Allowance for Loan Losses Allocated, With an Allowance | 0 | 0 | |
Commercial Working Capital [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 900 | 1,155 |
Recorded Investment, With no allowance | 904 | 1,157 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 713 | 649 |
Recorded Investment, With an Allowance | 714 | 650 | |
Allowance for Loan Losses Allocated, With an Allowance | 9 | 21 | |
Commercial Loans Other [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 3,367 | 3,966 |
Recorded Investment, With no allowance | 3,193 | 3,663 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 310 | 264 |
Recorded Investment, With an Allowance | 313 | 269 | |
Allowance for Loan Losses Allocated, With an Allowance | 4 | 9 | |
Commercial Loan [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 4,267 | 5,121 |
Recorded Investment, With no allowance | 4,097 | 4,820 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,023 | 913 |
Recorded Investment, With an Allowance | 1,027 | 919 | |
Allowance for Loan Losses Allocated, With an Allowance | 13 | 30 | |
Home Equity and Home Improvement [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 2,349 | 2,192 |
Recorded Investment, With no allowance | 2,298 | 2,140 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 95 | 101 |
Recorded Investment, With an Allowance | 96 | 102 | |
Allowance for Loan Losses Allocated, With an Allowance | 25 | 24 | |
Consumer Finance [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 29 | 35 |
Recorded Investment, With no allowance | 29 | 34 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 32 | 0 |
Recorded Investment, With an Allowance | 33 | 0 | |
Allowance for Loan Losses Allocated, With an Allowance | $ 32 | $ 0 | |
[1] | Presented gross of charge offs |
Loans (Details 5)
Loans (Details 5) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | $ 16,737 | $ 24,130 |
Loans over 90 days past due and still accruing | 0 | 0 |
Total non-performing loans | 16,737 | 24,130 |
Real estate and other assets held for sale | 5,371 | 6,181 |
Total non-performing assets | 22,108 | 30,311 |
Troubled debt restructuring, still accruing | $ 22,234 | $ 24,686 |
Loans (Details 6)
Loans (Details 6) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | $ 1,695,830 | $ 1,639,185 |
Total Past Due | 15,230 | 12,782 |
Total Non Accrual | 16,737 | 24,135 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,345 | 2,204 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 6,585 | 3,247 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 7,300 | 7,331 |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 141,983 | 141,597 |
Total Past Due | 717 | 1,483 |
Total Non Accrual | 1,502 | 1,702 |
Residential Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 39 |
Residential Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 427 | 1,079 |
Residential Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 290 | 365 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 61,597 | 62,991 |
Total Past Due | 1,124 | 793 |
Total Non Accrual | 1,440 | 1,625 |
Residential Non Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 245 | 110 |
Residential Non Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 157 | 105 |
Residential Non Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 722 | 578 |
One To Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 203,580 | 204,588 |
Total Past Due | 1,841 | 2,276 |
Total Non Accrual | 2,942 | 3,327 |
One To Four Family Residential Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 245 | 149 |
One To Four Family Residential Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 584 | 1,184 |
One To Four Family Residential Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,012 | 943 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 160,594 | 156,413 |
Total Past Due | 2,104 | 247 |
Total Non Accrual | 2,123 | 2,546 |
Multi Family Residential Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 247 |
Multi Family Residential Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Multi Family Residential Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,104 | 0 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 314,314 | 299,500 |
Total Past Due | 3,434 | 3,482 |
Total Non Accrual | 4,652 | 7,004 |
Commercial Real Estate Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 106 | 163 |
Commercial Real Estate Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,277 | 1,566 |
Commercial Real Estate Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,051 | 1,753 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 262,442 | 243,341 |
Total Past Due | 2,652 | 1,843 |
Total Non Accrual | 1,093 | 2,582 |
Commercial Real Estate Non Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 108 | 119 |
Commercial Real Estate Non Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,186 | 416 |
Commercial Real Estate Non Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 358 | 1,308 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 98,224 | 93,529 |
Total Past Due | 489 | 14 |
Total Non Accrual | 452 | 686 |
Agriculture Land [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 62 | 0 |
Agriculture Land [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 427 | 14 |
Agriculture Land [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 42,860 | 43,835 |
Total Past Due | 323 | 413 |
Total Non Accrual | 1,461 | 2,359 |
Commercial Real Estate Other Receivable [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 155 |
Commercial Real Estate Other Receivable [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 323 | 258 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 717,840 | 680,205 |
Total Past Due | 6,898 | 5,752 |
Total Non Accrual | 7,658 | 12,631 |
Commercial Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 276 | 437 |
Commercial Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 3,890 | 1,996 |
Commercial Real Estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,732 | 3,319 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 90,626 | 73,722 |
Total Past Due | 0 | 0 |
Total Non Accrual | 0 | 0 |
Construction [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Construction [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Working Capital [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 153,126 | 135,009 |
Total Past Due | 472 | 951 |
Total Non Accrual | 397 | 1,103 |
Commercial Working Capital [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 145 | 0 |
Commercial Working Capital [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Working Capital [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 327 | 951 |
Commercial Loans Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 245,954 | 262,982 |
Total Past Due | 2,960 | 2,089 |
Total Non Accrual | 3,054 | 3,897 |
Commercial Loans Other [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 5 | 67 |
Commercial Loans Other [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,857 | 10 |
Commercial Loans Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,098 | 2,012 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 399,080 | 397,991 |
Total Past Due | 3,432 | 3,040 |
Total Non Accrual | 3,451 | 5,000 |
Commercial Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 150 | 67 |
Commercial Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,857 | 10 |
Commercial Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,425 | 2,963 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 14,881 | 15,326 |
Total Past Due | 16 | 125 |
Total Non Accrual | 10 | 12 |
Consumer Finance [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 16 | 68 |
Consumer Finance [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 57 |
Consumer Finance [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Home Equity and Home Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 109,229 | 110,940 |
Total Past Due | 939 | 1,342 |
Total Non Accrual | 553 | 619 |
Home Equity and Home Improvement [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 658 | 1,236 |
Home Equity and Home Improvement [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 254 | 0 |
Home Equity and Home Improvement [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | $ 27 | $ 106 |
Loans (Details 7)
Loans (Details 7) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015USD ($)Numbers | Jun. 30, 2014USD ($)Numbers | Jun. 30, 2015USD ($)Numbers | Jun. 30, 2014USD ($)Numbers | |
Residential Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 7 | 15 | ||
Troubled Debt Restructurings, Recorded Investment | $ | $ 674 | $ 1,372 | ||
Residential Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 0 | 0 | ||
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 | ||
TDRs [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 16 | 21 | 27 | 36 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 3,291 | $ 1,500 | $ 3,634 | $ 3,592 |
TDRs [Member] | Residential Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 1 | 3 | ||
Troubled Debt Restructurings, Recorded Investment | $ | $ 9 | $ 226 | ||
TDRs [Member] | Residential Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 0 | 4 | ||
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 65 | ||
TDRs [Member] | Commercial Real Estate Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 1 | 0 | 1 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 582 | $ 0 | $ 582 | $ 0 |
TDRs [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 2 | 0 | 2 | 1 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 260 | $ 0 | $ 260 | $ 358 |
TDRs [Member] | Agriculture Land [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 3 | 0 | 3 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 1,555 | $ 0 | $ 1,555 | $ 0 |
TDRs [Member] | Commercial Real Estate Other Receivable [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
TDRs [Member] | Commercial Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 1 | 1 | ||
Troubled Debt Restructurings, Recorded Investment | $ | $ 57 | $ 57 | ||
TDRs [Member] | Other Commercial Working Capital [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 2 | 9 | 2 | 11 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 526 | $ 727 | $ 526 | $ 1,676 |
TDRs [Member] | Home Equity and Home Improvement [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 4 | 4 | 7 | 7 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 268 | $ 82 | $ 326 | $ 167 |
TDRs [Member] | Consumer Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings, Number of Loans | 2 | 1 | 4 | 2 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 34 | $ 17 | $ 37 | $ 19 |
Loans (Details 8)
Loans (Details 8) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015USD ($)Numbers | Jun. 30, 2014USD ($)Numbers | Jun. 30, 2015USD ($)Numbers | Jun. 30, 2014USD ($)Numbers | |
Residential Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 1 | 1 | ||
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 67 | $ 67 | ||
Residential Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 1 | 1 | ||
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 183 | $ 183 | ||
Subsequently Defaulted [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 2 | 8 | 2 | 9 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 126 | $ 790 | $ 126 | $ 790 |
Subsequently Defaulted [Member] | Residential Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 0 | ||
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 | ||
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 | 1 | 1 | ||
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 104 | $ 104 | ||
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 | 0 | 4 | 0 | 4 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 153 | $ 0 | $ 153 |
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 | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 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 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 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 | 0 | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Subsequently Defaulted [Member] | Commercial Working Capital [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 3 | 0 | 3 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 387 | $ 0 | $ 387 |
Subsequently Defaulted [Member] | Commercial Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 0 | ||
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 | ||
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 | 1 | 0 | 1 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 22 | $ 0 | $ 22 | $ 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 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
Loans (Details 9)
Loans (Details 9) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | $ 1,711,060 | $ 1,651,967 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,359,654 | 1,280,508 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 41,336 | 43,804 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 30,371 | 46,937 |
Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 478 |
Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 279,699 | 280,240 |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 142,700 | 143,080 |
Residential Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,153 | 4,230 |
Residential Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 155 | 131 |
Residential Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,262 | 3,048 |
Residential Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 365 |
Residential Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 135,130 | 135,306 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 62,721 | 63,784 |
Residential Non Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 51,673 | 51,327 |
Residential Non Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,071 | 2,404 |
Residential Non Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,229 | 4,872 |
Residential Non Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 7 |
Residential Non Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,748 | 5,174 |
One To Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 205,421 | 206,864 |
One To Four Family Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 56,826 | 55,557 |
One To Four Family Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,226 | 2,535 |
One To Four Family Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 6,491 | 7,920 |
One To Four Family Residential Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 372 |
One To Four Family Residential Real Estate [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 139,878 | 140,480 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 162,698 | 156,660 |
Multi Family Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 158,945 | 152,290 |
Multi Family Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 214 | 220 |
Multi Family Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,653 | 3,236 |
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 | 886 | 914 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 317,747 | 302,982 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 287,339 | 273,406 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 22,652 | 18,448 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 6,826 | 9,953 |
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 | 930 | 1,175 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 265,095 | 245,184 |
Commercial Real Estate Non Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 254,929 | 224,073 |
Commercial Real Estate Non Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 6,053 | 7,898 |
Commercial Real Estate Non Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,061 | 13,186 |
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 | 52 | 27 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 98,714 | 93,543 |
Agriculture Land [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 95,480 | 90,875 |
Agriculture Land [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,215 | 1,849 |
Agriculture Land [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,019 | 819 |
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 | 43,182 | 44,248 |
Commercial Real Estate Other Receivable [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 39,321 | 40,147 |
Commercial Real Estate Other Receivable [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 62 | 63 |
Commercial Real Estate Other Receivable [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,277 | 3,466 |
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 | 522 | 572 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 724,738 | 685,957 |
Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 677,069 | 628,501 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 30,982 | 28,258 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 15,183 | 27,424 |
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 | 1,504 | 1,774 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 90,626 | 73,722 |
Construction Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 77,346 | 62,355 |
Construction Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 347 | 0 |
Construction Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 150 |
Construction Loans [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Construction Loans [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 12,933 | 11,217 |
Commercial Working Capital [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 153,599 | 135,960 |
Commercial Working Capital [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 148,750 | 128,229 |
Commercial Working Capital [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,662 | 6,287 |
Commercial Working Capital [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,187 | 1,444 |
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 | 248,913 | 265,071 |
Commercial Loans Other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 240,718 | 253,576 |
Commercial Loans Other [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,905 | 6,504 |
Commercial Loans Other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,290 | 4,991 |
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 | 402,512 | 401,031 |
Commercial Loan [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 389,468 | 381,805 |
Commercial Loan [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 7,567 | 12,791 |
Commercial Loan [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,477 | 6,435 |
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 |
Home Equity and Home Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 110,168 | 112,282 |
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 | 560 | 1,647 |
Home Equity and Home Improvement [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 106 |
Home Equity and Home Improvement [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 109,608 | 110,529 |
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 14,897 | 15,451 |
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 | 7 | 125 |
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 | $ 14,890 | $ 15,326 |
Loans (Details Textual)
Loans (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses, Period Increase (Increase) | $ 53,000 | $ 65,000 | $ 116,000 | $ 5,000 | |
Loans and Leases Receivable, Consumer, Loans in Process | 367,000 | 367,000 | |||
Troubled Debt Restructuring [Member] | |||||
Financing Receivable, Modifications, Recorded Investment | 29,000,000 | 29,000,000 | $ 33,000,000 | ||
Specified Reserves, Provision for Troubled Debt Restructurings | 431,000 | 431,000 | 1,100,000 | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 28,000 | 28,000 | $ 69,000 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 6,700,000 | ||||
Troubled Debt Restructuring [Member] | Subsequently Defaulted [Member] | |||||
Financing Receivable, Allowance for Credit Losses, Period Increase (Increase) | $ 2,000 | $ 2,000 |
Mortgage Banking (Details)
Mortgage Banking (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||||
Gain from sale of mortgage loans | $ 1,246 | $ 986 | $ 2,531 | $ 1,628 |
Mortgage loans servicing revenue (expense): | ||||
Mortgage loans servicing revenue | 852 | 878 | 1,727 | 1,782 |
Amortization of mortgage servicing rights | (446) | (368) | (857) | (660) |
Mortgage servicing rights valuation adjustments | 141 | 44 | 167 | 37 |
Mortgage loans servicing revenue (expense), Total | 547 | 554 | 1,037 | 1,159 |
Net revenue from sale and servicing of mortgage loans | $ 1,793 | $ 1,540 | $ 3,568 | $ 2,787 |
Mortgage Banking (Details 1)
Mortgage Banking (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Mortgage servicing assets: | ||||
Balance at beginning of period | $ 9,832 | $ 10,048 | $ 9,923 | $ 10,133 |
Loans sold, servicing retained | 486 | 313 | 806 | 520 |
Amortization | (446) | (368) | (857) | (660) |
Carrying value before valuation allowance at end of period | 9,872 | 9,993 | 9,872 | 9,993 |
Valuation allowance: | ||||
Balance at beginning of period | (885) | (1,034) | (911) | (1,027) |
Impairment recovery (charges) | 141 | 44 | 167 | 37 |
Balance at end of period | (744) | (990) | (744) | (990) |
Net carrying value of MSRs at end of period | 9,128 | 9,003 | 9,128 | 9,003 |
Fair value of MSRs at end of period | $ 9,574 | $ 9,584 | $ 9,574 | $ 9,584 |
Mortgage Banking (Details Textu
Mortgage Banking (Details Textual) - USD ($) | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | |||
Residential Mortgage Loans, Unpaid Balance | $ 1,340,000,000 | $ 1,350,000,000 | |
Accrual For Estimated Secondary Market Buy Back Losses | $ 72,000 | ||
Accrual Reversal Amount | $ 67,000 | ||
Secondary Market Buy Back Expense | $ 184,000 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Deposits [Line Items] | ||
Non-interest-bearing checking accounts | $ 378,970 | $ 379,552 |
Interest-bearing checking and money market accounts | 722,813 | 727,729 |
Savings deposits | 218,055 | 203,673 |
Retail certificates of deposit less than $250,000 | 419,990 | 422,907 |
Retail certificates of deposit greater than $250,000 | 23,562 | 26,952 |
Deposits | $ 1,763,390 | $ 1,760,813 |
Borrowings (Details)
Borrowings (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
FHLB Advances: | |||
Single maturity fixed rate advances | $ 27,000 | $ 0 | $ 0 |
Putable advances | 5,000 | 12,000 | |
Amortizable mortgage advances | 9,050 | 9,544 | |
Total | 41,050 | 21,544 | |
Junior subordinated debentures owed to unconsolidated subsidiary trusts | $ 36,083 | $ 36,083 |
Borrowings (Details 1)
Borrowings (Details 1) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | $ 54,237 | $ 54,759 |
Gross amount of recognized liabilities for repurchase agreements | 54,237 | 54,759 |
Collateralized Mortgage Obligations [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 37,214 | 38,189 |
Maturity Greater than 90 Days [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 0 | 0 |
Maturity Greater than 90 Days [Member] | Collateralized Mortgage Obligations [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 0 | 0 |
Maturity 30 to 90 Days [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 0 | 0 |
Maturity 30 to 90 Days [Member] | Collateralized Mortgage Obligations [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 0 | 0 |
Maturity Less than 30 Days [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 0 | 0 |
Maturity Less than 30 Days [Member] | Collateralized Mortgage Obligations [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 0 | 0 |
Maturity Overnight [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 54,237 | 54,759 |
Maturity Overnight [Member] | Collateralized Mortgage Obligations [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 37,214 | 38,189 |
Residential Mortgage Backed Securities [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 17,023 | 16,570 |
Residential Mortgage Backed Securities [Member] | Maturity Greater than 90 Days [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 0 | 0 |
Residential Mortgage Backed Securities [Member] | Maturity 30 to 90 Days [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 0 | 0 |
Residential Mortgage Backed Securities [Member] | Maturity Less than 30 Days [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | 0 | 0 |
Residential Mortgage Backed Securities [Member] | Maturity Overnight [Member] | ||
Repurchase agreements: | ||
Securities Sold Under Repurchase Agreements | $ 17,023 | $ 16,570 |
Borrowings (Details Textual)
Borrowings (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Mar. 31, 2007 | Jun. 30, 2015 | Dec. 31, 2005 | Dec. 31, 2014 | |
Putable Advances [Member] | ||||
Federal Home Loan Bank Advances Balance Amount Yet To Be Called Series1 | $ 5 | |||
Federal home Loan Bank Advances Interest Rate On Balance Amount Yet To Be Called Series1 | 2.35% | |||
Trust Affiliate I [Member] | ||||
Issuance Of Trust Preferred Securities | $ 20 | |||
Issuance Of Subordinated Debentures | $ 20.6 | |||
Coupon Rate On Preferred Securities, Period End | 1.66% | 1.62% | ||
Preferred Securities Variable Interest Rate | LIBOR rate plus 1.38% | |||
Trust Affiliate II [Member] | ||||
Issuance Of Trust Preferred Securities | $ 15 | |||
Issuance Of Subordinated Debentures | $ 15.5 | |||
Coupon Rate On Preferred Securities, Period End | 1.78% | 1.74% | ||
Preferred Securities Variable Interest Rate | LIBOR rate plus 1.5% | |||
Trust Affiliate II [Member] | Strike Rate Advances [Member] | ||||
Federal Home Loan Bank Advances Branch of Fhlb Bank Last Due Date | March 12, 2018 |
Commitments, Guarantees and C75
Commitments, Guarantees and Contingent Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fixed Rate, Commitments to make loans | $ 43,201 | $ 37,546 |
Fixed Rate, Unused lines of credit | 17,148 | 20,385 |
Fixed Rate, Standby letters of credit | 0 | 0 |
Fixed Rate, Total | 60,349 | 57,931 |
Variable Rate, Commitments to make loans | 99,351 | 69,232 |
Variable Rate, Unused lines of credit | 295,745 | 307,449 |
Variable Rate, Standby letters of credit | 17,809 | 17,886 |
Variable Rate, Total | $ 412,905 | $ 394,567 |
Commitments, Guarantees and C76
Commitments, Guarantees and Contingent Liabilities (Details Textual) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Line of Credit Facility, Period | 60 days or less | |
Commitments and Loans, Available to Sell | $ 25.2 | $ 11.6 |
Derivative Financial Instrume77
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Derivatives not designated as hedging instruments | ||
Mortgage Banking Derivatives Assets, Carrying Value | $ 732 | $ 351 |
Mortgage Banking Derivatives Liabilities, Carrying Value | 0 | 24 |
Mortgage Banking Derivatives, Net Carrying Value | $ 732 | $ 327 |
Derivative Financial Instrume78
Derivative Financial Instruments (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Derivatives not designated as hedging instruments | ||||
Mortgage Banking Derivatives - Gain (Loss) | $ (33) | $ 128 | $ 405 | $ 178 |
Derivative Financial Instrume79
Derivative Financial Instruments (Details Textual) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net | $ 17.3 | $ 7.4 |
Notional Amount of Interest Rate Derivative Instruments Not Designated as Hedging Instruments | $ 25.2 | $ 11.6 |
Other Comprehensive Income (L80
Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Securities available for sale and transferred securities: Before Tax Amount | |||||
Change in net unrealized gain/loss during the period | $ (3,839) | $ 2,743 | $ (2,337) | $ 4,465 | |
Reclassification adjustment for net gains included in net income | [1] | 0 | (471) | 0 | (471) |
Total other comprehensive loss | (3,839) | 2,272 | (2,337) | 3,994 | |
Securities available for sale and transferred securities: Tax Expense (Benefit) | |||||
Change in net unrealized gain/loss during the period | (1,344) | 936 | (817) | 1,538 | |
Reclassification adjustment for net gains included in net income | 0 | (141) | 0 | (141) | |
Total other comprehensive loss | (1,344) | 795 | (817) | 1,397 | |
Securities available for sale and transferred securities: Net of Tax Amount | |||||
Change in net unrealized gain/loss during the period | (2,495) | 1,807 | (1,520) | 2,927 | |
Reclassification adjustment for net gains included in net income | 0 | (330) | 0 | (330) | |
Total other comprehensive loss | $ (2,495) | $ 1,477 | $ (1,520) | $ 2,597 | |
[1] | Amounts are included in gains on sale or call of securities on the Consolidated Condensed Statements of Income. Income tax expense associated with the reclassification adjustments, included in federal income taxes, for the three months ended June 30, 2015 and 2014 was $0 and $141, respectively. Income tax expense associated with the reclassification adjustments, included in federal income taxes, for the six months ended June 30, 2015 and 2014 was $0 and $141, respectively. |
Other Comprehensive Income (L81
Other Comprehensive Income (Loss) (Details 1) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Securities Available For Sale, Beginning balance | $ 4,697 | $ 906 |
Securities Available For Sale, Other comprehensive income before reclassifications | (1,520) | 2,927 |
Securities Available For Sale,Amounts reclassified from accumulated other comprehensive income | 0 | (330) |
Securities Available For Sale, Net other comprehensive income during period | (1,520) | 2,597 |
Securities Available For Sale, Ending balance | 3,177 | 3,503 |
Post-retirement Benefit, Beginning balance | (583) | (361) |
Post-retirement Benefit, Other comprehensive income before reclassifications | 0 | 0 |
Post-retirement Benefit, Amounts reclassified from accumulated other comprehensive income | 0 | 0 |
Post-retirement Benefit, Net other comprehensive income during period | 0 | 0 |
Post-retirement Benefit, Ending balance | (583) | (361) |
Accumulated Other Comprehensive Income, Beginning balance | 4,114 | 545 |
Accumulated Other Comprehensive Income, Other comprehensive income before reclassifications | (1,520) | 2,927 |
Accumulated Other Comprehensive Income, Amounts reclassified from accumulated other comprehensive income | 0 | (330) |
Accumulated Other Comprehensive Income, Net other comprehensive income during period | (1,520) | 2,597 |
Accumulated Other Comprehensive Income, Ending balance | $ 2,594 | $ 3,142 |
Affordable Housing Projects T82
Affordable Housing Projects Tax Credit Partnership (Details) - Unfunded Commitments [Member] $ in Thousands | Jun. 30, 2015USD ($) |
Schedule of Equity Method Investments [Line Items] | |
2,015 | $ 1,333 |
2,016 | 612 |
2,017 | 160 |
2,018 | 414 |
2,019 | 93 |
Thereafter | 312 |
Total Unfunded Commitments | $ 2,924 |
Affordable Housing Projects T83
Affordable Housing Projects Tax Credit Partnership (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Schedule of Equity Method Investments [Line Items] | ||||
Tax credits and other tax benefits recognized | $ 118 | $ 332 | $ 236 | $ 332 |
Amortization expense in federal income taxes | $ 89 | $ 44 | $ 179 | $ 44 |
Affordable Housing Projects T84
Affordable Housing Projects Tax Credit Partnership (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Other Assets [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Amortization Method Qualified Affordable Housing Project Investments | $ 4,500 | $ 4,600 |
Unfunded Commitments [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Qualified Affordable Housing Project Investments, Commitment | 2,924 | |
Unfunded Commitments [Member] | Other Liabilities [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Qualified Affordable Housing Project Investments, Commitment | $ 2,900 | $ 3,000 |