Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | Apr. 29, 2016 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
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 | 8,962,735 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Financial Condition - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Cash and cash equivalents: | ||
Cash and amounts due from depository institutions | $ 40,785 | $ 38,769 |
Federal funds sold | 83,000 | 41,000 |
Cash and cash equivalents at beginning of year | 123,785 | 79,769 |
Securities: | ||
Available-for-sale, carried at fair value | 227,833 | 236,435 |
Held-to-maturity, carried at amortized cost (fair value $238 and $245 at March 31, 2016 and December 31, 2015, respectively) | 235 | 243 |
Marketable Securities, Total | 228,068 | 236,678 |
Loans held for sale | 8,323 | 5,523 |
Loans receivable, net of allowance of $25,668 at March 31, 2016 and $25,382 at December 31, 2015, respectively | 1,799,318 | 1,776,835 |
Accrued interest receivable | 6,901 | 6,171 |
Federal Home Loan Bank stock | 13,800 | 13,801 |
Bank owned life insurance | 52,139 | 51,908 |
Premises and equipment | 37,909 | 38,166 |
Real estate and other assets held for sale | 1,111 | 1,321 |
Goodwill | 61,798 | 61,798 |
Core deposit and other intangibles | 1,714 | 1,871 |
Mortgage servicing rights | 9,213 | 9,248 |
Other assets | 14,852 | 14,587 |
Total assets | 2,358,931 | 2,297,676 |
Liabilities: | ||
Deposits | 1,871,157 | 1,836,137 |
Advances from the Federal Home Loan Bank | 84,664 | 59,902 |
Subordinated debentures | 36,083 | 36,083 |
Securities sold under repurchase agreements | 57,985 | 57,188 |
Advance payments by borrowers | 1,778 | 2,674 |
Deferred taxes | 1,603 | 877 |
Other liabilities | 25,290 | 24,618 |
Total liabilities | 2,078,560 | 2,017,479 |
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; 12,721,059 and 12,721,959 shares issued and 8,960,621 and 9,102,831 shares outstanding, respectively | 127 | 127 |
Common stock warrant | 0 | 0 |
Additional paid-in capital | 125,694 | 125,734 |
Accumulated other comprehensive income, net of tax of $2,412 and $1,950, respectively | 4,479 | 3,622 |
Retained earnings | 224,841 | 219,737 |
Treasury stock, at cost, 3,760,438 and 3,619,128 shares respectively | (74,770) | (69,023) |
Total stockholders’ equity | 280,371 | 280,197 |
Total liabilities and stockholders’ equity | $ 2,358,931 | $ 2,297,676 |
Consolidated Condensed Stateme3
Consolidated Condensed Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | |
Held-to-maturity, fair value (in dollars) | [1] | $ 238 | $ 245 |
Loans receivable, allowance (in dollars) | $ 25,668 | $ 25,382 | |
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 | 12,721,059 | 12,721,959 | |
Common stock, shares outstanding | 8,960,621 | 9,102,831 | |
Accumulated other comprehensive income, tax effect (in dollars) | $ 2,412 | $ 1,950 | |
Treasury stock, shares | 3,760,438 | 3,619,128 | |
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 | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Interest Income | ||
Loans | $ 19,312 | $ 17,887 |
Investment securities: | ||
Taxable | 843 | 913 |
Non-taxable | 787 | 779 |
Interest-bearing deposits | 49 | 39 |
FHLB stock dividends | 139 | 139 |
Total interest income | 21,130 | 19,757 |
Interest Expense | ||
Deposits | 1,433 | 1,272 |
FHLB advances and other | 297 | 110 |
Subordinated debentures | 175 | 147 |
Securities sold under repurchase agreements | 37 | 38 |
Total interest expense | 1,942 | 1,567 |
Net interest income | 19,188 | 18,190 |
Provision for loan losses | 364 | 120 |
Net interest income after provision for loan losses | 18,824 | 18,070 |
Non-interest Income | ||
Service fees and other charges | 2,644 | 2,529 |
Insurance commission income | 3,136 | 3,139 |
Mortgage banking income | 1,539 | 1,775 |
Gain on sale of non-mortgage loans | 45 | 36 |
Gain on sale of securities | 131 | 0 |
Trust income | 427 | 357 |
Income from Bank Owned Life Insurance | 231 | 208 |
Other non-interest income | 483 | 237 |
Total non-interest income | 8,636 | 8,281 |
Non-interest Expense | ||
Compensation and benefits | 10,185 | 8,922 |
Occupancy | 1,785 | 1,764 |
FDIC insurance premium | 327 | 351 |
Financial institutions tax | 446 | 481 |
Data processing | 1,460 | 1,523 |
Amortization of intangibles | 157 | 217 |
Other non-interest expense | 2,914 | 3,639 |
Total non-interest expense | 17,274 | 16,897 |
Income before income taxes | 10,186 | 9,454 |
Federal income taxes | 3,116 | 2,853 |
Net Income | $ 7,070 | $ 6,601 |
Earnings per common share (Note 6) | ||
Basic | $ 0.79 | $ 0.71 |
Diluted | 0.78 | 0.69 |
Dividends declared per share (Note 5) | $ 0.22 | $ 0.175 |
Average common shares outstanding (Note 6) | ||
Basic | 8,994 | 9,234 |
Diluted | 9,064 | 9,611 |
Consolidated Condensed Stateme5
Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Net income | $ 7,070 | $ 6,601 | |
Other comprehensive income: | |||
Unrealized gains on securities available for sale | 1,450 | 1,502 | |
Reclassification adjustments for security (gains) losses included in net income(1) | [1] | (131) | 0 |
Income tax expense | (462) | (527) | |
Other comprehensive income | 857 | 975 | |
Comprehensive income | $ 7,927 | $ 7,576 | |
[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 March 31, 2016 and 2015 was $46 and $0, respectively. |
Consolidated Condensed Stateme6
Consolidated Condensed Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Condensed Statement of Income Captions [Line Items] | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 46 | $ 0 |
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 [Member] | Retained Earnings [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2014 | $ 279,505 | $ 0 | $ 127 | $ 878 | $ 136,266 | $ 4,114 | $ 200,600 | $ (62,480) |
Net income | 6,601 | 6,601 | ||||||
Other comprehensive income | 975 | 975 | ||||||
Stock option expense | 21 | 21 | ||||||
Warrant repurchase | (11,979) | (878) | (11,101) | |||||
Shares issued under stock option plan | 723 | 177 | (287) | 833 | ||||
Restricted share activity under stock incentive plans | 131 | (100) | 231 | |||||
Shares issued direct purchases | 18 | 8 | 10 | |||||
shares repurchased | (1,264) | (1,264) | ||||||
Common stock dividends declared | (1,614) | (1,614) | ||||||
Balance at Mar. 31, 2015 | 273,117 | 0 | 127 | 0 | 125,271 | 5,089 | 205,300 | (62,670) |
Balance at Dec. 31, 2015 | 280,197 | 0 | 127 | 0 | 125,734 | 3,622 | 219,737 | (69,023) |
Net income | 7,070 | 7,070 | ||||||
Other comprehensive income | 857 | 857 | ||||||
Stock option expense | 119 | 119 | ||||||
Shares issued under stock option plan | 314 | (39) | 353 | |||||
Restricted share activity under stock incentive plans | 64 | (124) | 188 | |||||
Shares issued direct purchases | 9 | 4 | 5 | |||||
shares repurchased | (6,293) | (6,293) | ||||||
Common stock dividends declared | (1,966) | (1,966) | ||||||
Balance at Mar. 31, 2016 | $ 280,371 | $ 0 | $ 127 | $ 0 | $ 125,694 | $ 4,479 | $ 224,841 | $ (74,770) |
Consolidated Statement of Chan8
Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Shares issued under stock option plan (in shares) | 16,770 | 38,575 |
Stock Based Compensation Income Tax Benefit | $ 75 | $ 91 |
Stock Repurchased and Retired (in shares) | 900 | 9,925 |
Restricted share activity under Stock Incentive Plans (in shares) | 9,033 | 12,846 |
Shares issued direct purchases (in shares) | 233 | 542 |
shares repurchased | 167,746 | 37,857 |
Consolidated Condensed Stateme9
Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Operating Activities | ||
Net income | $ 7,070 | $ 6,601 |
Items not requiring (providing) cash | ||
Provision for loan losses | 364 | 120 |
Depreciation | 818 | 765 |
Amortization of mortgage servicing rights, net of impairment recoveries | 332 | 385 |
Amortization of core deposit and other intangible assets | 157 | 217 |
Net amortization of premiums and discounts on loans and deposits | 88 | 232 |
Amortization of premiums and discounts on securities | 193 | 176 |
Change in deferred taxes | 264 | (195) |
Proceeds from the sale of loans held for sale | 40,341 | 42,628 |
Originations of loans held for sale | (42,444) | (46,672) |
Gain from sale of loans | (1,039) | (1,321) |
Loss from write-down of property and equipment | 0 | 426 |
Gain from sale or call of securities | (131) | 0 |
(Gain) loss on sale / write-down of real estate and other assets held for sale | (265) | 79 |
Stock option expense | 119 | 21 |
Restricted stock expense | 64 | 131 |
Income from bank owned life insurance | (231) | (208) |
Changes in: | ||
Accrued interest receivable | (730) | (930) |
Other assets | (793) | (2,002) |
Other liabilities | 672 | 2,390 |
Net cash provided by operating activities | 4,849 | 2,843 |
Investing Activities | ||
Proceeds from maturities of held-to-maturity securities | 8 | 14 |
Proceeds from maturities, calls and pay-downs of available-for-sale securities | 7,903 | 6,395 |
Proceeds from sale of real estate and other assets held for sale | 884 | 572 |
Proceeds from the sale of available-for-sale securities | 5,360 | 0 |
Proceeds from sale of non-mortgage loans | 2,828 | 501 |
Purchases of available-for-sale securities | (2,875) | (14,187) |
Proceeds from Federal Home Loan stock redemption | 1 | 0 |
Purchases of premises and equipment, net | (562) | (829) |
Net increase in loans receivable | (26,127) | (38,693) |
Net cash provided by investing activities | (12,580) | (46,227) |
Financing Activities | ||
Net increase in deposits and advance payments by borrowers | 34,124 | 10,770 |
Repayment of Federal Home Loan Bank advances | (238) | (7,246) |
Proceeds from Federal Home Loan Bank advances | 25,000 | 17,000 |
Increase in securities sold under repurchase agreements | 797 | 5,512 |
Repayment of warrants | 0 | (11,979) |
Proceeds from exercise of stock options | 314 | 723 |
Proceeds from treasury stock sales | 9 | 18 |
Net cash paid for repurchase of common stock | (6,293) | (1,264) |
Cash dividends paid on common stock | (1,966) | (1,614) |
Net cash provided by financing activities | 51,747 | 11,920 |
Increase (decrease) in cash and cash equivalents | 44,016 | (31,464) |
Cash and cash equivalents at beginning of period | 79,769 | 112,936 |
Cash and cash equivalents at end of period | 123,785 | 81,472 |
Supplemental cash flow information: | ||
Interest paid | 1,889 | 1,577 |
Income taxes paid | 300 | 0 |
Transfers from loans to real estate and other assets held for sale | 409 | 680 |
Securities purchased but not yet settled | $ 529 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2016 | |
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. In addition, First Federal invests in U.S. Treasury and federal government agency obligations, obligations of the State of Ohio and its political subdivisions, mortgage-backed securities that are issued by federal agencies, including real estate mortgage investment conduits (“REMICs”) and collateralized mortgage obligations (“CMOs”), and corporate bonds. First Insurance is an insurance agency that conducts business through offices located in the Defiance, Maumee, Oregon, Bryan, Lima and Bowling Green, Ohio areas. First Insurance offers property and casualty insurance, life insurance and group health insurance. First Defiance Risk Management is a wholly-owned insurance company subsidiary of the Company that insures 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, 2015 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 March 31, 2016 and for the three month periods ended March 31, 2016 and 2015 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 2015 Annual Report on Form 10-K for the year ended December 31, 2015. 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 month period ended March 31, 2016 are not necessarily indicative of the results that may be expected for the entire year. |
Significant Accounting Policies
Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2016 | |
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. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. 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, restricted stock awards and stock grants. In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09: Compensation Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In February 2016, FASB issued ASU 2016-02 (Topic 842): Leases In January 2016, FASB issued ASU 2016-01: Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . |
Fair Value
Fair Value | 3 Months Ended |
Mar. 31, 2016 | |
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 : Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. · Level 2 : Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by a correlation or other means. · Level 3 : Unobservable inputs for determining fair value of assets and liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Available for sale securities - Securities classified as available for sale are generally reported at fair value utilizing Level 2 inputs where the Company obtains fair value measurements from an independent pricing service that uses matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows and the bonds’ terms and conditions, among other things. Securities in Level 1 include federal agency preferred stock securities. Securities in Level 2 include U.S. Government agencies, mortgage-backed securities, corporate bonds and municipal securities. 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 20 Mortgage servicing rights On a quarterly basis, mortgage servicing rights are evaluated for impairment based upon the fair value of the rights as compared to the carrying amount. If the carrying amount of an individual tranche exceeds fair value, impairment is recorded on that tranche so that the servicing asset is carried at fair value. Fair value is determined at a tranche level based on a model that calculates the present value of estimated future net servicing income. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and are validated against available market data (Level 2). Mortgage banking derivative - The fair value of mortgage banking derivatives are evaluated monthly based on derivative valuation models using quoted prices for similar assets adjusted for specific attributes of the commitments and other observable market data at the valuation date (Level 2). Assets and Liabilities Measured on a Recurring Basis Level 1 Level 2 Level 3 Total Fair March 31, 2016 Inputs Inputs Inputs Value (In Thousands) Available for sale securities: Obligations of U.S. government corporations and agencies $ - $ 1,009 $ - $ 1,009 Mortgage-backed - residential - 59,721 - 59,721 REMICs - 1,579 - 1,579 Collateralized mortgage obligations- residential - 69,528 - 69,528 Preferred stock 1 - - 1 Corporate bonds 4,988 - 4,988 Obligations of state and political subdivisions - 91,007 - 91,007 Mortgage banking derivative - asset - 856 - 856 Mortgage banking derivative - liability - 78 - 78 Level 1 Level 2 Level 3 Total Fair December 31, 2015 Inputs Inputs Inputs Value (In Thousands) Available for sale securities: Obligations of U.S. Government corporations and agencies $ - $ 2,994 $ - $ 2,994 Mortgage-backed - residential - 64,654 - 64,654 REMICs - 1,620 - 1,620 Collateralized mortgage obligations-residential - 71,799 - 71,799 Preferred stock 1 - - 1 Corporate bonds - 4,977 - 4,977 Obligations of state and political subdivisions - 90,390 90,390 Mortgage banking derivative - asset - 558 - 558 Assets and Liabilities Measured on a Non-Recurring Basis Total Fair March 31, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Value (In Thousands) Impaired loans 1-4 Family Residential Real Estate $ - $ - $ 258 $ 258 Multi Family Residential - - 83 83 Commercial Real Estate - - 4,650 4,650 Commercial loans - - 39 39 Home Equity and Improvement - - 81 81 Total Impaired loans - - 5,111 5,111 Mortgage servicing rights - 3,547 3,547 Real estate held for sale - Residential - - - - Commercial Real Estate - - 130 130 Total real estate held for sale - - 130 130 Total Fair December 31, 2015 Level 1 Inputs Level 2 Inputs Level 3 Inputs Value (In Thousands) Impaired loans 1-4 Family Residential Real Estate $ - $ - $ 398 $ 398 Multi Family Residential - - 91 91 Commercial Real Estate - - 4,575 4,575 Commercial - - Home Equity and Improvement - - 82 82 Total impaired loans - - 5,146 5,146 Mortgage servicing rights - 872 - 872 Real estate held for sale Residential - - - - Commercial Real Estate - - 280 280 Total Real Estate held for sale - - 280 280 Fair Range of Weighted Value Valuation Technique Unobservable Inputs Inputs Average (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 5,111 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 $ 130 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 20% 20% For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows: Fair Range of Weighted Value Valuation Technique Unobservable Inputs Inputs Average (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 5,146 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 $ 280 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 30% 30% Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a fair value of $ 5.1 8,000 5.1 8,000 119,000 621,000 Mortgage servicing rights which are carried at the lower of cost or fair value, had a fair value of $ 3.5 666,000 872,000 645,000 21,000 26,000 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 $ 53,000 522,000 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, 2016 and December 31, 2015. 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 discounted cash flow analyses based on interest rates currently being offered on instruments with similar characteristics and maturities resulting in a Level 3 classification. Fair Value Measurements at March 31, 2016 Carrying (In Thousands) Value Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 123,785 $ 123,785 $ 123,785 $ - $ - Investment securities 228,068 228,071 1 228,070 - Federal Home Loan Bank Stock 13,800 N/A N/A N/A N/A Loans, net, including loans held for sale 1,807,641 1,816,978 - 8,968 1,808,010 Accrued interest receivable 6,901 6,901 4 1,324 5,573 Financial Liabilities: Deposits $ 1,871,157 $ 1,875,050 $ 426,053 $ 1,449,852 $ - Advances from Federal Home Loan Bank 84,664 85,127 - 85,127 - Securities sold under repurchase agreements 57,985 57,985 - 57,985 - Subordinated debentures 36,083 35,352 - - 35,352 Fair Value Measurements at December 31, 2015 Carrying (In Thousands) Value Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 79,769 $ 79,769 $ 79,769 $ - $ - Investment securities 236,678 236,680 1 236,679 - Federal Home Loan Bank Stock 13,801 N/A N/A N/A N/A Loans, net, including loans held for sale 1,782,358 1,784,998 - 5,899 1,779,099 Accrued interest receivable 6,171 6,171 7 846 5,318 Financial Liabilities: Deposits $ 1,836,137 $ 1,840,464 $ 420,691 $ 1,419,773 $ - Advances from Federal Home Loan Bank 59,902 59,653 - 59,653 - Securities sold under repurchase agreements 57,188 57,188 - 57,188 - Subordinated debentures 36,083 35,305 - - 35,305 |
Incentive Compensation Plans
Incentive Compensation Plans | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 4. Incentive 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 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 March 31, 2016, 75,050 20 40 20 In 2014, the Company approved a 2014 Short-Term Incentive Plan (“STIP”) and a 2014 Long-Term Incentive Plan (“LTIP”) for selected senior members of management. Under the 2014 STIP, the participants may earn up to 30 45 Under the 2014 LTIP, the participants may earn up to 20 45 30,538 In 2015, the Company approved a 2015 STIP and a 2015 LTIP for selected senior members of management. Under the 2015 STIP, the participants could earn up to 30 45 Under the 2015 LTIP, the participants may earn up to 20 45 24,757 A total of 7,011 In 2016, the Company approved a 2016 STIP and a 2016 LTIP for selected senior members of management. Under the 2016 STIP, the participants could earn up to 10 45 Under the 2016 LTIP, the participants may earn up to 20 45 24,526 In the three months ended March 31, 2016, the Company also granted 2,022 1,000 1,022 4 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. Three Months ended March 31, 2016 March 31, 2015 Expected average risk-free rate 2.24 % 2.04 % Expected average life 10.00 years 10.00 years Expected volatility 41.00 % 42.00 % Expected dividend yield 2.33 % 2.10 % The weighted-average fair value of options granted was $ 13.95 13.13 Weighted Average Aggregate Weighted Remaining Intrinsic Options Average Contractual Value Outstanding Exercise Price Term (in years) (in 000’s) Options outstanding, January 1, 2016 86,220 $ 20.27 Forfeited or cancelled - - Exercised (17,670) 20.03 Granted 6,500 37.78 Options outstanding, March 31, 2016 75,050 $ 21.84 3.71 $ 1,244 Vested or expected to vest at March 31, 2016 75,050 $ 21.84 3.71 $ 1,244 Exercisable at March 31, 2016 57,250 $ 18.49 2.11 $ 1,140 Three Months Ended March 31, 2016 2015 Proceeds of options exercised $ 353 $ 1,059 Related tax benefit recognized 75 91 Intrinsic value of options exercised 326 512 As of March 31, 2016, there was $ 214,000 3.90 . At March 31, 2016, 75,468 12,449 261,000 226,000 191,000 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, 2016 74,545 $ 25.86 10,927 $ 30.98 Granted 24,526 39.30 9,033 23.28 Vested (7,011) 19.19 (7,011) 19.19 Forfeited (16,592) 19.19 (500) 32.00 Unvested at March 31, 2016 75,468 $ 32.31 12,449 $ 31.99 The maximum amount of compensation expense that may be recorded for the 2016 STIP and the 2014, 2015 and 2016 LTIPs at March 31, 2016 is approximately $ 3.4 2.3 1.6 |
Dividends on Common Stock
Dividends on Common Stock | 3 Months Ended |
Mar. 31, 2016 | |
Dividends, Common Stock [Abstract] | |
Dividend on Common Stock [Text Block] | 5. Dividends on Common Stock First Defiance declared and paid a $ 0.22 0.175 |
Earnings Per Common Share
Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 6. Earnings Per Common Share Three months ended March 31, 2016 2015 (In Thousands, except per share data) Numerator for basic and diluted earnings per common share Net income $ 7,070 $ 6,601 Denominator: Denominator for basic earnings per common share weighted average common shares 8,994 9,234 Effect of warrants - 291 Effect of employee stock options 70 86 Denominator for diluted earnings per common share 9,064 9,611 Basic earnings per common share $ 0.79 $ 0.71 Diluted earnings per common share $ 0.78 $ 0.69 There were 12,550 16,750 |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2016 | |
Marketable Securities [Abstract] | |
Investment [Text Block] | 7. Investment Securities Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value At March 31, 2016 (In Thousands) Available-for-Sale Securities: Obligations of U.S. government corporations and agencies $ 1,000 $ 9 $ - $ 1,009 Mortgage-backed securities residential 58,431 1,290 - 59,721 REMICs 1,542 37 - 1,579 Collateralized mortgage obligations 68,108 1,511 (91) 69,528 Trust preferred securities and preferred stock - 1 - 1 Corporate bonds 4,963 36 (11) 4,988 Obligations of state and political subdivisions 86,252 4,778 (23) 91,007 Totals $ 220,296 $ 7,662 $ (125) $ 227,833 Gross Gross Amortized Unrecognized Unrecognized Cost Gains Losses Fair Value (In Thousands) Held-to-Maturity Securities*: FHLMC certificates $ 13 $ - $ - $ 13 FNMA certificates 69 2 - 71 GNMA certificates 29 1 - 30 Obligations of state and political subdivisions 124 - - 124 Totals $ 235 $ 3 $ - $ 238 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) At December 31, 2015 Available-for-sale Obligations of U.S. government corporations and agencies $ 3,000 $ 1 $ (7) $ 2,994 Mortgage-backed securities - residential 63,815 898 (59) 64,654 REMICs 1,592 28 - 1,620 Collateralized mortgage obligations 71,176 976 (353) 71,799 Preferred stock - 1 - 1 Corporate bonds 4,955 39 (17) 4,977 Obligations of state and political 85,680 4,712 (2) 90,390 Total Available-for-Sale $ 230,218 $ 6,655 $ (438) $ 236,435 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In Thousands) Held-to-Maturity Securities*: FHLMC certificates $ 14 $ - $ - $ 14 FNMA certificates 74 2 (1) 75 GNMA certificates 31 1 - 32 Obligations of states and political subdivisions 124 - - 124 Total Held-to-Maturity $ 243 $ 3 $ (1) $ 245 * FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In Thousands) Due in one year or less $ 5,796 $ 5,824 $ - $ - Due after one year through five years 10,945 11,395 124 124 Due after five years through ten years 35,632 37,833 - - Due after ten years 39,842 41,953 - - MBS/CMO/REMIC 128,081 130,828 111 114 $ 220,296 $ 227,833 $ 235 $ 238 Investment securities with a carrying amount of $ 142.6 As of March 31, 2016, the Company’s investment portfolio consisted of 357 13 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 March 31, 2016 Available-for-sale securities: Collateralized mortgage obligations $ 1,921 $ (17) $ 8,505 $ (74) $ 10,426 $ (91) Obligations of state and political subdivisions 815 (23) - - 815 (23) Corporate bonds 989 (11) - - 989 (11) Total temporarily impaired securities $ 3,725 $ (51) $ 8,505 $ (74) $ 12,230 $ (125) 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, 2015 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 993 $ (7) $ - $ - $ 993 $ (7) Collateralized mortgage obligations 12,374 (150) 8,158 (203) 20,532 (353) Corporate bonds 983 (17) - - 983 (17) Obligations of state and political subdivisions - - 433 (2) 433 (2) Mortgage-backed securities-residential 12,525 (59) - - 12,525 (59) Held to maturity securities: FNMA certificates 13 (1) - - 13 (1) Total temporarily impaired securities $ 26,888 $ (234) $ 8,591 $ (205) $ 35,479 $ (439) Realized gains from the sales and calls of investment securities totaled $ 131,000 92,000 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. 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. In the first quarter of 2016 and 2015, management determined there was no OTTI. Three Months Ended March 31, 2016 2015 (In Thousands) Proceeds $ 5,360 $ - Gross realized gains 131 - Gross realized losses - - |
Loans
Loans | 3 Months Ended |
Mar. 31, 2016 | |
Loans Receivable, Net [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8. Loans March 31, December 31, (In Thousands) Real Estate: Secured by 1-4 family residential $ 208,818 $ 205,330 Secured by multi-family residential 181,486 167,558 Secured by commercial real estate 807,982 780,870 Construction 145,635 163,877 1,343,921 1,317,635 Other Loans: Commercial 412,911 419,349 Home equity and improvement 116,856 116,962 Consumer finance 15,679 16,281 545,446 552,592 Total loans 1,889,367 1,870,227 Deduct: Undisbursed loan funds (63,267) (66,902) Net deferred loan origination fees and costs (1,114) (1,108) Allowance for loan loss (25,668) (25,382) Totals $ 1,799,318 $ 1,776,835 Loan segments have been identified by evaluating the portfolio based on collateral and credit risk characteristics. Quarter Ended March 31, 1-4 Family Multi-Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 3,212 $ 2,151 $ 11,772 $ 517 $ 5,255 $ 2,304 $ 171 $ 25,382 Charge-Offs (55) 0 (13) 0 (336) (30) 0 (434) Recoveries 86 0 177 0 19 39 35 356 Provisions (134) 99 (292) (28) 882 (81) (82) 364 Ending Allowance $ 3,109 $ 2,250 $ 11,644 $ 489 $ 5,820 $ 2,232 $ 124 $ 25,668 Quarter Ended March 31, 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 (78) 0 (155) 0 (2) (43) (3) (281) Recoveries 19 0 597 0 40 29 12 697 Provisions 48 101 (26) 82 219 (270) (34) 120 Ending Allowance $ 2,483 $ 2,554 $ 11,684 $ 303 $ 6,766 $ 1,420 $ 92 $ 25,302 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 $ 197 $ - $ 154 $ - $ 11 $ 38 $ - $ 400 Collectively evaluated for impairment 2,912 2,250 11,490 489 5,809 2,194 124 25,268 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 3,109 $ 2,250 $ 11,644 $ 489 $ 5,820 $ 2,232 $ 124 $ 25,668 Loans: Loans individually evaluated for impairment $ 7,570 $ 4,543 $ 18,517 $ - $ 5,423 $ 1,740 $ 69 $ 37,862 Loans collectively evaluated for impairment 201,561 177,091 791,608 82,208 408,820 115,641 15,603 1,792,532 Loans acquired with deteriorated credit quality - - 150 - 15 - - 165 Total ending loans balance $ 209,131 $ 181,634 $ 810,275 $ 82,208 $ 414,258 $ 117,381 $ 15,672 $ 1,830,559 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, 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 $ 201 $ - $ 139 $ - $ 63 $ 34 $ - $ 437 Collectively evaluated for impairment 3,011 2,151 11,633 517 5,192 2,270 171 24,945 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 3,212 $ 2,151 $ 11,772 $ 517 $ 5,255 $ 2,304 $ 171 $ 25,382 Loans: Loans individually evaluated for impairment $ 7,574 $ 3,313 $ 23,493 $ - $ 6,107 $ 1,491 $ 71 $ 42,049 Loans collectively evaluated for impairment 198,106 164,382 759,281 96,845 414,527 115,977 16,199 1,765,317 Loans acquired with deteriorated credit quality - - 153 - 16 - - 169 Total ending loans balance $ 205,680 $ 167,695 $ 782,927 $ 96,845 $ 420,650 $ 117,468 $ 16,270 $ 1,807,535 Three Months Ended March 31, 2016 Interest Cash Basis Average Income Income Balance Recognized Recognized Residential Owner Occupied $ 4,025 $ 39 $ 39 Residential Non Owner Occupied 3,557 35 34 Total Residential Real Estate 7,582 74 73 Multi-Family 4,593 30 30 CRE Owner Occupied 9,090 62 48 CRE Non Owner Occupied 4,418 53 49 Agriculture Land 3,593 35 12 Other CRE 1,422 4 4 Total Commercial Real Estate 18,523 154 113 Construction - - - Commercial Working Capital 1,513 15 15 Commercial Other 4,245 19 18 Total Commercial 5,758 34 33 Home Equity and Home Improvement 1,749 15 15 Consumer Finance 73 1 1 Total Impaired Loans $ 38,278 $ 308 $ 265 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 March 31, 2015 Interest Cash Basis Average Income Income Balance Recognized Recognized Residential Owner Occupied $ 5,992 $ 68 $ 68 Residential Non Owner Occupied 4,347 41 40 Total Residential Real Estate 10,339 109 108 Multi-Family 2,463 8 8 CRE Owner Occupied 6,513 37 39 CRE Non Owner Occupied 10,187 133 135 Agriculture Land 760 7 13 Other CRE 2,441 10 9 Total Commercial Real Estate 19,901 187 196 Construction 150 2 2 Commercial Working Capital 1,866 13 13 Commercial Other 3,839 13 18 Total Commercial 5,705 26 31 Home Equity and Home Improvement 2,202 20 20 Consumer Finance 43 - - Total Impaired Loans $ 40,803 $ 352 $ 365 The following table presents loans individually evaluated for impairment by class of loans (In Thousands): March 31, 2016 December 31, 2015 Allowance Allowance Unpaid for Loan Unpaid for Loan Principal Recorded Losses Principal Recorded Losses Balance* Investment Allocated Balance* Investment Allocated With no allowance recorded: Residential Owner Occupied $ 1,450 $ 1,455 $ - $ 1,383 $ 1,360 $ - Residential Non Owner Occupied 2,237 2,232 - 2,147 2,141 - Total 1-4 Family Residential Real Estate 3,687 3,687 - 3,530 3,501 - Multi-Family Residential Real Estate 4,688 4,543 - 3,463 3,313 - CRE Owner Occupied 6,725 6,290 - 4,869 4,520 - CRE Non Owner Occupied 3,441 3,183 - 7,932 7,685 - Agriculture Land 3,529 3,602 - 3,546 3,596 - Other CRE 964 934 - 4,076 4,046 - Total Commercial Real Estate 14,659 14,009 - 20,423 19,847 - Construction - - - - - - Commercial Working Capital 1,264 1,267 - 1,644 1,648 - Commercial Other 4,084 3,715 - 3,573 3,607 - Total Commercial 5,348 4,982 - 5,217 5,255 - Home Equity and Home Improvement 832 787 - 817 772 - Consumer Finance 68 69 - 60 59 - Total loans with no allowance recorded $ 29,282 $ 28,077 $ - $ 33,510 $ 32,747 $ - With an allowance recorded: Residential Owner Occupied $ 2,609 $ 2,556 $ 183 $ 2,918 $ 2,837 $ 188 Residential Non Owner Occupied 1,322 1,327 14 1,231 1,236 13 Total 1-4 Family Residential Real Estate 3,931 3,883 197 4,149 4,073 201 Multi-Family Residential Real Estate - - - - - - CRE Owner Occupied 3,191 2,732 140 3,250 2,767 132 CRE Non Owner Occupied 1,291 1,225 10 385 308 2 Agriculture Land 68 69 1 68 69 2 Other CRE 905 482 3 926 502 3 Total Commercial Real Estate 5,455 4,508 154 4,629 3,646 139 Construction - - - - - - Commercial Working Capital 200 201 9 594 596 62 Commercial Other 236 240 2 252 256 1 Total Commercial 436 441 11 846 852 63 Home Equity and Home Improvement 957 953 38 724 719 34 Consumer Finance - - - 12 12 - Total loans with an allowance recorded $ 10,779 $ 9,785 $ 400 $ 10,360 $ 9,302 $ 437 * Presented gross of charge offs March 31, December 31, 2016 2015 (In Thousands) Non-accrual loans $ 17,707 $ 16,261 Loans over 90 days past due and still accruing - - Total non-performing loans 17,707 16,261 Real estate and other assets held for sale 1,111 1,321 Total non-performing assets $ 18,818 $ 17,582 Troubled debt restructuring, still accruing $ 11,284 $ 11,178 Total Total Non Current 30-59 days 60-89 days 90+ days Past Due Accrual Residential Owner Occupied $ 141,424 $ 83 $ 204 $ 744 $ 1,031 $ 1,766 Residential Non Owner Occupied 65,891 63 54 668 785 1,359 Total 1-4 Family Residential Real Estate 207,315 146 258 1,412 1,816 3,125 Multi-Family Residential Real Estate 179,659 - - 1,975 1,975 2,356 CRE Owner Occupied 342,703 54 - 491 545 4,843 CRE Non Owner Occupied 310,095 1,002 108 636 1,746 1,165 Agriculture Land 104,271 186 - - 186 681 Other Commercial Real Estate 50,444 - - 285 285 1,293 Total Commercial Real Estate 807,513 1,242 108 1,412 2,762 7,982 Construction 82,208 - - - - - Commercial Working Capital 170,282 10 - 141 151 569 Commercial Other 241,556 163 - 2,106 2,269 2,990 Total Commercial 411,838 173 - 2,247 2,420 3,559 Home Equity/Home Improvement 116,440 792 113 36 941 674 Consumer Finance 15,616 51 5 - 56 13 Total Loans $ 1,820,589 $ 2,404 $ 484 $ 7,082 $ 9,970 $ 17,709 The following table presents the aging of the recorded investment in past due and non-accrual loans as of December 31, 2015 by class of loans (In Thousands): Total Total Non Current 30-59 days 60-89 days 90+ days Past Due Accrual Residential Owner Occupied $ 138,974 $ 159 $ 673 $ 391 $ 1,223 $ 1,428 Residential Non Owner Occupied 64,577 324 356 226 906 1,179 Total 1-4 Family Residential Real Estate 203,551 483 1,029 617 2,129 2,607 Multi-Family Residential Real Estate 165,671 - - 2,024 2,024 2,417 CRE Owner Occupied 322,940 772 1,218 1,266 3,256 4,141 CRE Non Owner Occupied 304,166 - 106 538 644 1,229 Agriculture Land 98,055 57 - - 57 695 Other Commercial Real Estate 53,494 - - 315 315 1,364 Total Commercial Real Estate 778,655 829 1,324 2,119 4,272 7,429 Construction 96,845 - - - - - Commercial Working Capital 168,938 16 - 154 170 251 Commercial Other 249,070 203 46 2,223 2,472 2,833 Total Commercial 418,008 219 46 2,377 2,642 3,084 Home Equity and Home Improvement 116,599 733 92 44 869 689 Consumer Finance 16,216 27 3 24 54 36 Total Loans $ 1,795,545 $ 2,291 $ 2,494 $ 7,205 $ 11,990 $ 16,262 Troubled Debt Restructurings As of March 31, 2016 and December 31, 2015, the Company had a recorded investment in troubled debt restructurings (“TDRs”) of $ 17.5 17.6 283,000 335,000 21,000 48,000 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, $ 6.2 Loans Modified as a TDR for the Three Loans Modified as a TDR for the Three Months Ended March 31, 2015 Months Ended March 31, 2015 ($ in thousands) ($ in thousands) Number of Recorded Investment Number of Recorded Investment Troubled Debt Restructurings Loans (as of period end) Loans (as of period end) 1-4 Family Owner Occupied 1 $ 9 3 $ 228 1-4 Family Non Owner Occupied 2 127 4 68 CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 0 - 0 - Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital 0 - 0 - Commercial Other 0 - 0 - Home Equity and Improvement 5 297 3 59 Consumer Finance 2 5 5 10 Total 10 $ 438 15 $ 365 The loans described above decreased the ALLL by $ 15,000 64,000 Of the 2016 modifications, 5 were made TDRs due to the fact that the borrower has been in bankruptcy, 1 was made TDR due to granting interest only payments, 1 was made TDR due to extending the maturity date, and 3 were made TDRs because the current debt was refinanced for payment relief. Three Months Ended March 31, 2016 Three Months Ended March 31, 2016 ($ in thousands) ($ in thousands) Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment That Subsequently Defaulted Loans (as of period end) Loans (as of period end) 1-4 Family Owner Occupied 0 $ - 1 $ 126 1-4 Family Non Owner Occupied 0 - 1 104 CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 0 - 2 387 Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital or Other 0 - 1 120 Commercial Other 0 - 0 - Home Equity and Improvement 0 - 0 - Consumer Finance 0 - 0 - Total 0 $ - 5 $ 737 The TDRs that subsequently defaulted described above had no affect on the allowance for loan losses for the three month periods ending March 31, 2016 or 2015. The terms of certain other loans were modified during the period ending March 31, 2016 and the modifications did not meet the definition of a TDR. The modification of these loans involved a modification of the terms of the loans for borrowers who were not experiencing financial difficulties. A total of 63 loans were modified under this definition during the three month period ended March 31, 2016. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed on the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. Credit Quality Indicators Loans are categorized into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Loans are analyzed individually by classifying the loans as to credit risk. This analysis includes all non-homogeneous loans, such as commercial and commercial real estate loans and certain homogenous mortgage, home equity and consumer loans. This analysis is performed on a quarterly basis. First Defiance uses the following definitions for risk ratings: Special Mention. Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Not Graded. Loans classified as not graded are generally smaller balance residential real estate, home equity and consumer installment loans which are originated primarily by using an automated underwriting system. These loans are monitored based on their delinquency status and are evaluated individually only if they are seriously delinquent. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Special Not Class Pass Mention Substandard Doubtful Graded Total 1-4 Family Owner Occupied $ 4,940 $ 121 $ 2,298 $ - $ 135,096 $ 142,455 1-4 Family Non Owner Occupied 56,739 1,263 4,416 - 4,258 66,676 Total 1-4 Family Real Estate 61,679 1,384 6,714 - 139,354 209,131 Multi-Family Residential Real Estate 176,033 488 4,996 - 117 181,634 CRE Owner Occupied 315,063 17,831 9,847 - 616 343,357 CRE Non Owner Occupied 304,891 884 5,943 - 13 311,731 Agriculture Land 98,378 2,253 3,826 - - 104,457 Other CRE 47,059 583 2,572 - 516 50,730 Total Commercial Real Estate 765,391 21,551 22,188 - 1,145 810,275 Construction 60,945 2,293 - - 18,970 82,208 Commercial Working Capital 160,656 7,392 2,384 - - 170,432 Commercial Other 234,166 4,305 5,355 - - 243,826 Total Commercial 394,822 11,697 7,739 - - 414,258 Home Equity and Home Improvement - - 738 - 116,643 117,381 Consumer Finance - - 14 - 15,658 15,672 Total Loans $ 1,458,870 $ 37,413 $ 42,389 $ - $ 291,887 $ 1,830,559 As of December 31, 2015, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (In Thousands): Special Not Class Pass Mention Substandard Doubtful Graded Total Residential Owner Occupied $ 5,828 $ 123 $ 2,427 $ - $ 131,820 $ 140,198 Residential Non Owner Occupied 55,169 1,420 4,439 - 4,454 65,482 Total 1-4 Family Real Estate 60,997 1,543 6,866 - 136,274 205,680 Multi-Family Residential Real Estate 163,405 498 3,675 - 117 167,695 CRE Owner Occupied 297,856 17,896 9,730 - 714 326,196 CRE Non Owner Occupied 293,057 2,143 9,595 - 15 304,810 Agriculture Land 92,262 1,947 3,903 - - 98,112 Other CRE 47,109 469 5,739 - 492 53,809 Total Commercial Real Estate 730,284 22,455 28,967 - 1,221 782,927 Construction 76,152 2,159 - - 18,534 96,845 Commercial Working Capital 163,071 2,497 3,540 - - 169,108 Commercial Other 243,308 2,706 5,528 - - 251,542 Total Commercial 406,379 5,203 9,068 - - 420,650 Home Equity and Home Improvement - - 689 - 116,779 117,468 Consumer Finance - - 15 - 16,255 16,270 Total Loans $ 1,437,217 $ 31,858 $ 49,280 $ - $ 289,180 $ 1,807,535 Foreclosure Proceedings Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure totaled $ 359,000 |
Mortgage Banking
Mortgage Banking | 3 Months Ended |
Mar. 31, 2016 | |
Mortgage Banking [Abstract] | |
Mortgage Banking [Text Block] | 9. Mortgage Banking Three Months Ended 2016 2015 (In Thousands) Gain from sale of mortgage loans $ 994 $ 1,285 Mortgage loans servicing revenue (expense): Mortgage loans servicing revenue 877 875 Amortization of mortgage servicing rights (311) (411) Mortgage servicing rights valuation adjustments (21) 26 545 490 Net revenue from sale and servicing of mortgage loans $ 1,539 $ 1,775 The unpaid principal balance of residential mortgage loans serviced for third parties was $ 1.34 March 31, March 31, (In Thousands) Mortgage servicing assets: Balance at beginning of period $ 9,893 $ 9,923 Loans sold, servicing retained 297 320 Amortization (311) (411) Carrying value before valuation allowance at end of period 9,879 9,832 Valuation allowance: Balance at beginning of period (645) (911) Impairment (expense) recovery (21) 26 Balance at end of period (666) (885) Net carrying value of MSRs at end of period $ 9,213 $ 8,947 Fair value of MSRs at end of period $ 9,463 $ 9,180 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 $ 59,000 58,000 |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2016 | |
Deposits [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | 10. Deposits A summary of deposit balances is as follows: March 31, December 31, 2016 2015 (In Thousands) Non-interest-bearing checking accounts $ 426,053 $ 420,691 Interest-bearing checking and money market accounts 783,016 767,201 Savings deposits 233,546 219,655 Retail certificates of deposit less than $250,000 401,350 403,902 Retail certificates of deposit greater than $250,000 27,192 24,688 $ 1,871,157 $ 1,836,137 |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2016 | |
Subordinated Borrowings [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | 11. Borrowings March 31, December 31, (In Thousands) FHLB Advances: Single maturity fixed rate advances $ 72,000 $ 47,000 Putable advances 5,000 5,000 Amortizable mortgage advances 7,664 7,902 Total $ 84,664 $ 59,902 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 2.13 2.01 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 2.01 1.89 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 March 31, 2016 Repurchase agreements: Mortgage-backed securities residential $ 26,836 $ - $ - $ - $ 26,836 Collateralized mortgage obligations 31,149 - - - 31,149 Total borrowings $ 57,985 $ - $ - $ - $ 57,985 Gross amount of recognized liabilities for repurchase agreements $ 57,985 Overnight and Up to 30 30-90 Days Greater Total (In Thousands) At December 31, 2015 Repurchase agreements: Mortgage-backed securities residential $ 23,998 $ - $ - $ - $ 23,998 Collateralized mortgage obligations 33,190 - - - 33,190 Total borrowings $ 57,188 $ - $ - $ - $ 57,188 Gross amount of recognized liabilities for repurchase agreements $ 57,188 |
Commitments, Guarantees and Con
Commitments, Guarantees and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2016 | |
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. March 31, 2016 December 31, 2015 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 48,269 $ 98,503 $ 80,862 $ 76,253 Unused lines of credit 22,727 372,404 31,991 323,171 Standby letters of credit - 19,033 - 19,632 Total $ 70,996 $ 489,940 $ 112,853 $ 419,056 Commitments to make loans are generally made for periods of 60 days In addition to the above commitments, First Defiance had commitments to sell $ 31.3 19.9 |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2016 | |
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 2011. 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 | 3 Months Ended |
Mar. 31, 2016 | |
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 $ 23.0 14.9 31.3 19.9 recorded in other assets in the Consolidated Statements of Condition. March 31, 2016 December 31, 2015 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 $ 856 $ (78) $ 778 $ 558 $ - $ 558 Three Months Ended March 31, 2016 2015 (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives Gain (Loss) $ 220 $ 438 The above amounts are included in mortgage banking income with gain on sale of mortgage loans. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2016 | |
Other Comprehensive Income (Loss), Net Of Tax [Abstract] | |
Other Comprehensive Income Loss [Text Block] | 15. Other Comprehensive Income (Loss) Before Tax Tax Expense Net of Tax Amount (Benefit) Amount Three months ended March 31, 2016: (In Thousands) Securities available for sale: Change in net unrealized gain/loss during the period $ 1,450 $ (508) $ 942 Reclassification adjustment for net gains included in net income (131) 46 (85) Total other comprehensive loss $ 1,319 $ (462) $ 857 Three months ended March 31, 2015: Securities available for sale: Change in net unrealized gain/loss during the period $ 1,502 $ 527 $ 975 Reclassification adjustment for net gains included in net income - - - Total other comprehensive loss $ 1,502 $ 527 $ 975 Accumulated Securities Post- Other Available retirement Comprehensive For Sale Benefit Income (In Thousands) Balance January 1, 2016 $ 4,042 $ (420) $ 3,622 Other comprehensive income before reclassifications 942 - 942 Amounts reclassified from accumulated other comprehensive income (85) - (85) Net other comprehensive income during period 857 - 857 Balance March 31, 2016 $ 4,899 $ (420) $ 4,479 Balance January 1, 2015 $ 4,697 $ (583) $ 4,114 Other comprehensive income before reclassifications 975 - 975 Amounts reclassified from accumulated other comprehensive income - - - Net other comprehensive income during period 975 - 975 Balance March 31, 2015 $ 5,672 $ (583) $ 5,089 |
Affordable Housing Projects Tax
Affordable Housing Projects Tax Credit Partnership | 3 Months Ended |
Mar. 31, 2016 | |
Affordable Housing Projects Tax Credit Partnership [Abstract] | |
Affordable Housing Program [Text Block] | 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.” 4.2 4.3 2.2 2.4 Unfunded Commitments (dollars in thousands) Amount 2016 $ 1,259 2017 160 2018 414 2019 93 2020 66 Thereafter 247 Total Unfunded Commitments $ 2,239 Three Months Ended March 31, (dollars in thousands) 2016 2015 Proportional Amortization Method Tax credits and other tax benefits recognized $ 157 $ 118 Amortization expense in federal income taxes 119 89 There were no impairment losses of LIHTC investments for the three months ended March 31, 2016 and 2015. |
Significant Accounting Polici26
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
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. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. |
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, restricted stock awards and stock grants. |
New Accounting Pronouncements, Policy [Policy Text Block] | Newly Issued Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09: Compensation Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In February 2016, FASB issued ASU 2016-02 (Topic 842): Leases In January 2016, FASB issued ASU 2016-01: Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 Level 1 Level 2 Level 3 Total Fair March 31, 2016 Inputs Inputs Inputs Value (In Thousands) Available for sale securities: Obligations of U.S. government corporations and agencies $ - $ 1,009 $ - $ 1,009 Mortgage-backed - residential - 59,721 - 59,721 REMICs - 1,579 - 1,579 Collateralized mortgage obligations- residential - 69,528 - 69,528 Preferred stock 1 - - 1 Corporate bonds 4,988 - 4,988 Obligations of state and political subdivisions - 91,007 - 91,007 Mortgage banking derivative - asset - 856 - 856 Mortgage banking derivative - liability - 78 - 78 Level 1 Level 2 Level 3 Total Fair December 31, 2015 Inputs Inputs Inputs Value (In Thousands) Available for sale securities: Obligations of U.S. Government corporations and agencies $ - $ 2,994 $ - $ 2,994 Mortgage-backed - residential - 64,654 - 64,654 REMICs - 1,620 - 1,620 Collateralized mortgage obligations-residential - 71,799 - 71,799 Preferred stock 1 - - 1 Corporate bonds - 4,977 - 4,977 Obligations of state and political subdivisions - 90,390 90,390 Mortgage banking derivative - asset - 558 - 558 |
Schedule of Fair Value, Assets Measured on Non Recurring Basis [Table Text Block] | The following table summarizes the financial assets measured at fair value on a non-recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Assets and Liabilities Measured on a Non-Recurring Basis Total Fair March 31, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Value (In Thousands) Impaired loans 1-4 Family Residential Real Estate $ - $ - $ 258 $ 258 Multi Family Residential - - 83 83 Commercial Real Estate - - 4,650 4,650 Commercial loans - - 39 39 Home Equity and Improvement - - 81 81 Total Impaired loans - - 5,111 5,111 Mortgage servicing rights - 3,547 3,547 Real estate held for sale - Residential - - - - Commercial Real Estate - - 130 130 Total real estate held for sale - - 130 130 Total Fair December 31, 2015 Level 1 Inputs Level 2 Inputs Level 3 Inputs Value (In Thousands) Impaired loans 1-4 Family Residential Real Estate $ - $ - $ 398 $ 398 Multi Family Residential - - 91 91 Commercial Real Estate - - 4,575 4,575 Commercial - - Home Equity and Improvement - - 82 82 Total impaired loans - - 5,146 5,146 Mortgage servicing rights - 872 - 872 Real estate held for sale Residential - - - - Commercial Real Estate - - 280 280 Total Real Estate held for sale - - 280 280 |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of March 31, 2016, the significant unobservable inputs used in the fair value measurements were as follows: Fair Range of Weighted Value Valuation Technique Unobservable Inputs Inputs Average (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 5,111 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 $ 130 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 20% 20% For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows: Fair Range of Weighted Value Valuation Technique Unobservable Inputs Inputs Average (Dollars in Thousands) Impaired Loans- Applies to all loan classes $ 5,146 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 $ 280 Appraisals which utilize sales comparison, net income and cost approach Discounts for changes in market conditions 30% 30% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | FHLB advances with maturities greater than 90 days are valued based on discounted cash flow analysis, using interest rates currently being quoted for similar characteristics and maturities resulting in a Level 2 classification. The cost or value of any call or put options is based on the estimated cost to settle the option at March 31, 2016. Fair Value Measurements at March 31, 2016 Carrying (In Thousands) Value Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 123,785 $ 123,785 $ 123,785 $ - $ - Investment securities 228,068 228,071 1 228,070 - Federal Home Loan Bank Stock 13,800 N/A N/A N/A N/A Loans, net, including loans held for sale 1,807,641 1,816,978 - 8,968 1,808,010 Accrued interest receivable 6,901 6,901 4 1,324 5,573 Financial Liabilities: Deposits $ 1,871,157 $ 1,875,050 $ 426,053 $ 1,449,852 $ - Advances from Federal Home Loan Bank 84,664 85,127 - 85,127 - Securities sold under repurchase agreements 57,985 57,985 - 57,985 - Subordinated debentures 36,083 35,352 - - 35,352 Fair Value Measurements at December 31, 2015 Carrying (In Thousands) Value Total Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 79,769 $ 79,769 $ 79,769 $ - $ - Investment securities 236,678 236,680 1 236,679 - Federal Home Loan Bank Stock 13,801 N/A N/A N/A N/A Loans, net, including loans held for sale 1,782,358 1,784,998 - 5,899 1,779,099 Accrued interest receivable 6,171 6,171 7 846 5,318 Financial Liabilities: Deposits $ 1,836,137 $ 1,840,464 $ 420,691 $ 1,419,773 $ - Advances from Federal Home Loan Bank 59,902 59,653 - 59,653 - Securities sold under repurchase agreements 57,188 57,188 - 57,188 - Subordinated debentures 36,083 35,305 - - 35,305 |
Incentive Compensation Plans (T
Incentive Compensation Plans (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 three months ended March 31, 2016 was determined at the date of grant using the Black-Scholes stock option-pricing model and the following assumptions: Three Months ended March 31, 2016 March 31, 2015 Expected average risk-free rate 2.24 % 2.04 % Expected average life 10.00 years 10.00 years Expected volatility 41.00 % 42.00 % Expected dividend yield 2.33 % 2.10 % |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Following is stock option activity under the plans during the three months ended March 31, 2016: Weighted Average Aggregate Weighted Remaining Intrinsic Options Average Contractual Value Outstanding Exercise Price Term (in years) (in 000’s) Options outstanding, January 1, 2016 86,220 $ 20.27 Forfeited or cancelled - - Exercised (17,670) 20.03 Granted 6,500 37.78 Options outstanding, March 31, 2016 75,050 $ 21.84 3.71 $ 1,244 Vested or expected to vest at March 31, 2016 75,050 $ 21.84 3.71 $ 1,244 Exercisable at March 31, 2016 57,250 $ 18.49 2.11 $ 1,140 |
Schedule of Cash Proceeds Received from Share-based Payment Awards [Table Text Block] | Proceeds, related tax benefits realized from options exercised and intrinsic value of options exercised were as follows (in 000’s): Three Months Ended March 31, 2016 2015 Proceeds of options exercised $ 353 $ 1,059 Related tax benefit recognized 75 91 Intrinsic value of options exercised 326 512 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | There was approximately $ 191,000 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, 2016 74,545 $ 25.86 10,927 $ 30.98 Granted 24,526 39.30 9,033 23.28 Vested (7,011) 19.19 (7,011) 19.19 Forfeited (16,592) 19.19 (500) 32.00 Unvested at March 31, 2016 75,468 $ 32.31 12,449 $ 31.99 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 March 31, 2016 2015 (In Thousands, except per share data) Numerator for basic and diluted earnings per common share Net income $ 7,070 $ 6,601 Denominator: Denominator for basic earnings per common share weighted average common shares 8,994 9,234 Effect of warrants - 291 Effect of employee stock options 70 86 Denominator for diluted earnings per common share 9,064 9,611 Basic earnings per common share $ 0.79 $ 0.71 Diluted earnings per common share $ 0.78 $ 0.69 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Marketable Securities [Abstract] | |
Schedule of Available-for-sale and Held to Maturity Securities [Table Text Block] | The following is a summary of available-for-sale and held-to-maturity securities: Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value At March 31, 2016 (In Thousands) Available-for-Sale Securities: Obligations of U.S. government corporations and agencies $ 1,000 $ 9 $ - $ 1,009 Mortgage-backed securities residential 58,431 1,290 - 59,721 REMICs 1,542 37 - 1,579 Collateralized mortgage obligations 68,108 1,511 (91) 69,528 Trust preferred securities and preferred stock - 1 - 1 Corporate bonds 4,963 36 (11) 4,988 Obligations of state and political subdivisions 86,252 4,778 (23) 91,007 Totals $ 220,296 $ 7,662 $ (125) $ 227,833 Gross Gross Amortized Unrecognized Unrecognized Cost Gains Losses Fair Value (In Thousands) Held-to-Maturity Securities*: FHLMC certificates $ 13 $ - $ - $ 13 FNMA certificates 69 2 - 71 GNMA certificates 29 1 - 30 Obligations of state and political subdivisions 124 - - 124 Totals $ 235 $ 3 $ - $ 238 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) At December 31, 2015 Available-for-sale Obligations of U.S. government corporations and agencies $ 3,000 $ 1 $ (7) $ 2,994 Mortgage-backed securities - residential 63,815 898 (59) 64,654 REMICs 1,592 28 - 1,620 Collateralized mortgage obligations 71,176 976 (353) 71,799 Preferred stock - 1 - 1 Corporate bonds 4,955 39 (17) 4,977 Obligations of state and political 85,680 4,712 (2) 90,390 Total Available-for-Sale $ 230,218 $ 6,655 $ (438) $ 236,435 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In Thousands) Held-to-Maturity Securities*: FHLMC certificates $ 14 $ - $ - $ 14 FNMA certificates 74 2 (1) 75 GNMA certificates 31 1 - 32 Obligations of states and political subdivisions 124 - - 124 Total Held-to-Maturity $ 243 $ 3 $ (1) $ 245 * FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investments Classified by Contractual Maturity Date [Table Text Block] | The amortized cost and fair value of the investment securities portfolio at March 31, 2016 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. 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 $ 5,796 $ 5,824 $ - $ - Due after one year through five years 10,945 11,395 124 124 Due after five years through ten years 35,632 37,833 - - Due after ten years 39,842 41,953 - - MBS/CMO/REMIC 128,081 130,828 111 114 $ 220,296 $ 227,833 $ 235 $ 238 |
Unrealized Gain (Loss) on Investments [Table Text Block] | The following tables summarize First Defiance’s securities that were in an unrealized loss position at March 31, 2016 and December 31, 2015: 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 March 31, 2016 Available-for-sale securities: Collateralized mortgage obligations $ 1,921 $ (17) $ 8,505 $ (74) $ 10,426 $ (91) Obligations of state and political subdivisions 815 (23) - - 815 (23) Corporate bonds 989 (11) - - 989 (11) Total temporarily impaired securities $ 3,725 $ (51) $ 8,505 $ (74) $ 12,230 $ (125) 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, 2015 Available-for-sale securities: Obligations of U.S. government corporations and agencies $ 993 $ (7) $ - $ - $ 993 $ (7) Collateralized mortgage obligations 12,374 (150) 8,158 (203) 20,532 (353) Corporate bonds 983 (17) - - 983 (17) Obligations of state and political subdivisions - - 433 (2) 433 (2) Mortgage-backed securities-residential 12,525 (59) - - 12,525 (59) Held to maturity securities: FNMA certificates 13 (1) - - 13 (1) Total temporarily impaired securities $ 26,888 $ (234) $ 8,591 $ (205) $ 35,479 $ (439) |
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 March 31, 2016 2015 (In Thousands) Proceeds $ 5,360 $ - Gross realized gains 131 - Gross realized losses - - |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Loans Receivable, Net [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loans receivable consist of the following: March 31, December 31, (In Thousands) Real Estate: Secured by 1-4 family residential $ 208,818 $ 205,330 Secured by multi-family residential 181,486 167,558 Secured by commercial real estate 807,982 780,870 Construction 145,635 163,877 1,343,921 1,317,635 Other Loans: Commercial 412,911 419,349 Home equity and improvement 116,856 116,962 Consumer finance 15,679 16,281 545,446 552,592 Total loans 1,889,367 1,870,227 Deduct: Undisbursed loan funds (63,267) (66,902) Net deferred loan origination fees and costs (1,114) (1,108) Allowance for loan loss (25,668) (25,382) Totals $ 1,799,318 $ 1,776,835 |
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 March 31, 2016 and 2015 by portfolio segment (In Thousands): Quarter Ended March 31, 1-4 Family Multi-Family Commercial Construction Commercial Home Equity Consumer Total Beginning Allowance $ 3,212 $ 2,151 $ 11,772 $ 517 $ 5,255 $ 2,304 $ 171 $ 25,382 Charge-Offs (55) 0 (13) 0 (336) (30) 0 (434) Recoveries 86 0 177 0 19 39 35 356 Provisions (134) 99 (292) (28) 882 (81) (82) 364 Ending Allowance $ 3,109 $ 2,250 $ 11,644 $ 489 $ 5,820 $ 2,232 $ 124 $ 25,668 Quarter Ended March 31, 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 (78) 0 (155) 0 (2) (43) (3) (281) Recoveries 19 0 597 0 40 29 12 697 Provisions 48 101 (26) 82 219 (270) (34) 120 Ending Allowance $ 2,483 $ 2,554 $ 11,684 $ 303 $ 6,766 $ 1,420 $ 92 $ 25,302 |
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 March 31, 2016 (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 $ 197 $ - $ 154 $ - $ 11 $ 38 $ - $ 400 Collectively evaluated for impairment 2,912 2,250 11,490 489 5,809 2,194 124 25,268 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 3,109 $ 2,250 $ 11,644 $ 489 $ 5,820 $ 2,232 $ 124 $ 25,668 Loans: Loans individually evaluated for impairment $ 7,570 $ 4,543 $ 18,517 $ - $ 5,423 $ 1,740 $ 69 $ 37,862 Loans collectively evaluated for impairment 201,561 177,091 791,608 82,208 408,820 115,641 15,603 1,792,532 Loans acquired with deteriorated credit quality - - 150 - 15 - - 165 Total ending loans balance $ 209,131 $ 181,634 $ 810,275 $ 82,208 $ 414,258 $ 117,381 $ 15,672 $ 1,830,559 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, 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 $ 201 $ - $ 139 $ - $ 63 $ 34 $ - $ 437 Collectively evaluated for impairment 3,011 2,151 11,633 517 5,192 2,270 171 24,945 Acquired with deteriorated credit quality - - - - - - - - Total ending allowance balance $ 3,212 $ 2,151 $ 11,772 $ 517 $ 5,255 $ 2,304 $ 171 $ 25,382 Loans: Loans individually evaluated for impairment $ 7,574 $ 3,313 $ 23,493 $ - $ 6,107 $ 1,491 $ 71 $ 42,049 Loans collectively evaluated for impairment 198,106 164,382 759,281 96,845 414,527 115,977 16,199 1,765,317 Loans acquired with deteriorated credit quality - - 153 - 16 - - 169 Total ending loans balance $ 205,680 $ 167,695 $ 782,927 $ 96,845 $ 420,650 $ 117,468 $ 16,270 $ 1,807,535 |
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 March 31, 2016 Interest Cash Basis Average Income Income Balance Recognized Recognized Residential Owner Occupied $ 4,025 $ 39 $ 39 Residential Non Owner Occupied 3,557 35 34 Total Residential Real Estate 7,582 74 73 Multi-Family 4,593 30 30 CRE Owner Occupied 9,090 62 48 CRE Non Owner Occupied 4,418 53 49 Agriculture Land 3,593 35 12 Other CRE 1,422 4 4 Total Commercial Real Estate 18,523 154 113 Construction - - - Commercial Working Capital 1,513 15 15 Commercial Other 4,245 19 18 Total Commercial 5,758 34 33 Home Equity and Home Improvement 1,749 15 15 Consumer Finance 73 1 1 Total Impaired Loans $ 38,278 $ 308 $ 265 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 March 31, 2015 Interest Cash Basis Average Income Income Balance Recognized Recognized Residential Owner Occupied $ 5,992 $ 68 $ 68 Residential Non Owner Occupied 4,347 41 40 Total Residential Real Estate 10,339 109 108 Multi-Family 2,463 8 8 CRE Owner Occupied 6,513 37 39 CRE Non Owner Occupied 10,187 133 135 Agriculture Land 760 7 13 Other CRE 2,441 10 9 Total Commercial Real Estate 19,901 187 196 Construction 150 2 2 Commercial Working Capital 1,866 13 13 Commercial Other 3,839 13 18 Total Commercial 5,705 26 31 Home Equity and Home Improvement 2,202 20 20 Consumer Finance 43 - - Total Impaired Loans $ 40,803 $ 352 $ 365 |
Impaired Financing Receivables [Table Text Block] | The following table presents loans individually evaluated for impairment by class of loans (In Thousands): March 31, 2016 December 31, 2015 Allowance Allowance Unpaid for Loan Unpaid for Loan Principal Recorded Losses Principal Recorded Losses Balance* Investment Allocated Balance* Investment Allocated With no allowance recorded: Residential Owner Occupied $ 1,450 $ 1,455 $ - $ 1,383 $ 1,360 $ - Residential Non Owner Occupied 2,237 2,232 - 2,147 2,141 - Total 1-4 Family Residential Real Estate 3,687 3,687 - 3,530 3,501 - Multi-Family Residential Real Estate 4,688 4,543 - 3,463 3,313 - CRE Owner Occupied 6,725 6,290 - 4,869 4,520 - CRE Non Owner Occupied 3,441 3,183 - 7,932 7,685 - Agriculture Land 3,529 3,602 - 3,546 3,596 - Other CRE 964 934 - 4,076 4,046 - Total Commercial Real Estate 14,659 14,009 - 20,423 19,847 - Construction - - - - - - Commercial Working Capital 1,264 1,267 - 1,644 1,648 - Commercial Other 4,084 3,715 - 3,573 3,607 - Total Commercial 5,348 4,982 - 5,217 5,255 - Home Equity and Home Improvement 832 787 - 817 772 - Consumer Finance 68 69 - 60 59 - Total loans with no allowance recorded $ 29,282 $ 28,077 $ - $ 33,510 $ 32,747 $ - With an allowance recorded: Residential Owner Occupied $ 2,609 $ 2,556 $ 183 $ 2,918 $ 2,837 $ 188 Residential Non Owner Occupied 1,322 1,327 14 1,231 1,236 13 Total 1-4 Family Residential Real Estate 3,931 3,883 197 4,149 4,073 201 Multi-Family Residential Real Estate - - - - - - CRE Owner Occupied 3,191 2,732 140 3,250 2,767 132 CRE Non Owner Occupied 1,291 1,225 10 385 308 2 Agriculture Land 68 69 1 68 69 2 Other CRE 905 482 3 926 502 3 Total Commercial Real Estate 5,455 4,508 154 4,629 3,646 139 Construction - - - - - - Commercial Working Capital 200 201 9 594 596 62 Commercial Other 236 240 2 252 256 1 Total Commercial 436 441 11 846 852 63 Home Equity and Home Improvement 957 953 38 724 719 34 Consumer Finance - - - 12 12 - Total loans with an allowance recorded $ 10,779 $ 9,785 $ 400 $ 10,360 $ 9,302 $ 437 * 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: March 31, December 31, 2016 2015 (In Thousands) Non-accrual loans $ 17,707 $ 16,261 Loans over 90 days past due and still accruing - - Total non-performing loans 17,707 16,261 Real estate and other assets held for sale 1,111 1,321 Total non-performing assets $ 18,818 $ 17,582 Troubled debt restructuring, still accruing $ 11,284 $ 11,178 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | Total Total Non Current 30-59 days 60-89 days 90+ days Past Due Accrual Residential Owner Occupied $ 141,424 $ 83 $ 204 $ 744 $ 1,031 $ 1,766 Residential Non Owner Occupied 65,891 63 54 668 785 1,359 Total 1-4 Family Residential Real Estate 207,315 146 258 1,412 1,816 3,125 Multi-Family Residential Real Estate 179,659 - - 1,975 1,975 2,356 CRE Owner Occupied 342,703 54 - 491 545 4,843 CRE Non Owner Occupied 310,095 1,002 108 636 1,746 1,165 Agriculture Land 104,271 186 - - 186 681 Other Commercial Real Estate 50,444 - - 285 285 1,293 Total Commercial Real Estate 807,513 1,242 108 1,412 2,762 7,982 Construction 82,208 - - - - - Commercial Working Capital 170,282 10 - 141 151 569 Commercial Other 241,556 163 - 2,106 2,269 2,990 Total Commercial 411,838 173 - 2,247 2,420 3,559 Home Equity/Home Improvement 116,440 792 113 36 941 674 Consumer Finance 15,616 51 5 - 56 13 Total Loans $ 1,820,589 $ 2,404 $ 484 $ 7,082 $ 9,970 $ 17,709 The following table presents the aging of the recorded investment in past due and non-accrual loans as of December 31, 2015 by class of loans (In Thousands): Total Non Current 30-59 days 60-89 days 90+ days Past Due Accrual Residential Owner Occupied $ 138,974 $ 159 $ 673 $ 391 $ 1,223 $ 1,428 Residential Non Owner Occupied 64,577 324 356 226 906 1,179 Total 1-4 Family Residential Real Estate 203,551 483 1,029 617 2,129 2,607 Multi-Family Residential Real Estate 165,671 - - 2,024 2,024 2,417 CRE Owner Occupied 322,940 772 1,218 1,266 3,256 4,141 CRE Non Owner Occupied 304,166 - 106 538 644 1,229 Agriculture Land 98,055 57 - - 57 695 Other Commercial Real Estate 53,494 - - 315 315 1,364 Total Commercial Real Estate 778,655 829 1,324 2,119 4,272 7,429 Construction 96,845 - - - - - Commercial Working Capital 168,938 16 - 154 170 251 Commercial Other 249,070 203 46 2,223 2,472 2,833 Total Commercial 418,008 219 46 2,377 2,642 3,084 Home Equity and Home Improvement 116,599 733 92 44 869 689 Consumer Finance 16,216 27 3 24 54 36 Total Loans $ 1,795,545 $ 2,291 $ 2,494 $ 7,205 $ 11,990 $ 16,262 |
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 month period ending March 31, 2016 and March 31, 2015: Loans Modified as a TDR for the Three Loans Modified as a TDR for the Three Months Ended March 31, 2015 Months Ended March 31, 2015 ($ in thousands) ($ in thousands) Number of Recorded Investment Number of Recorded Investment Troubled Debt Restructurings Loans (as of period end) Loans (as of period end) 1-4 Family Owner Occupied 1 $ 9 3 $ 228 1-4 Family Non Owner Occupied 2 127 4 68 CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 0 - 0 - Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital 0 - 0 - Commercial Other 0 - 0 - Home Equity and Improvement 5 297 3 59 Consumer Finance 2 5 5 10 Total 10 $ 438 15 $ 365 |
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 quarters ending March 31, 2016 and March 31, 2015: Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 ($ in thousands) ($ in thousands) Troubled Debt Restructurings Number of Recorded Investment Number of Recorded Investment That Subsequently Defaulted Loans (as of period end) Loans (as of period end) 1-4 Family Owner Occupied 0 $ - 1 $ 126 1-4 Family Non Owner Occupied 0 - 1 104 CRE Owner Occupied 0 - 0 - CRE Non Owner Occupied 0 - 2 387 Agriculture Land 0 - 0 - Other CRE 0 - 0 - Commercial Working Capital or Other 0 - 1 120 Commercial Other 0 - 0 - Home Equity and Improvement 0 - 0 - Consumer Finance 0 - 0 - Total 0 $ - 5 $ 737 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Special Not Class Pass Mention Substandard Doubtful Graded Total 1-4 Family Owner Occupied $ 4,940 $ 121 $ 2,298 $ - $ 135,096 $ 142,455 1-4 Family Non Owner Occupied 56,739 1,263 4,416 - 4,258 66,676 Total 1-4 Family Real Estate 61,679 1,384 6,714 - 139,354 209,131 Multi-Family Residential Real Estate 176,033 488 4,996 - 117 181,634 CRE Owner Occupied 315,063 17,831 9,847 - 616 343,357 CRE Non Owner Occupied 304,891 884 5,943 - 13 311,731 Agriculture Land 98,378 2,253 3,826 - - 104,457 Other CRE 47,059 583 2,572 - 516 50,730 Total Commercial Real Estate 765,391 21,551 22,188 - 1,145 810,275 Construction 60,945 2,293 - - 18,970 82,208 Commercial Working Capital 160,656 7,392 2,384 - - 170,432 Commercial Other 234,166 4,305 5,355 - - 243,826 Total Commercial 394,822 11,697 7,739 - - 414,258 Home Equity and Home Improvement - - 738 - 116,643 117,381 Consumer Finance - - 14 - 15,658 15,672 Total Loans $ 1,458,870 $ 37,413 $ 42,389 $ - $ 291,887 $ 1,830,559 As of December 31, 2015, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (In Thousands): Special Not Class Pass Mention Substandard Doubtful Graded Total Residential Owner Occupied $ 5,828 $ 123 $ 2,427 $ - $ 131,820 $ 140,198 Residential Non Owner Occupied 55,169 1,420 4,439 - 4,454 65,482 Total 1-4 Family Real Estate 60,997 1,543 6,866 - 136,274 205,680 Multi-Family Residential Real Estate 163,405 498 3,675 - 117 167,695 CRE Owner Occupied 297,856 17,896 9,730 - 714 326,196 CRE Non Owner Occupied 293,057 2,143 9,595 - 15 304,810 Agriculture Land 92,262 1,947 3,903 - - 98,112 Other CRE 47,109 469 5,739 - 492 53,809 Total Commercial Real Estate 730,284 22,455 28,967 - 1,221 782,927 Construction 76,152 2,159 - - 18,534 96,845 Commercial Working Capital 163,071 2,497 3,540 - - 169,108 Commercial Other 243,308 2,706 5,528 - - 251,542 Total Commercial 406,379 5,203 9,068 - - 420,650 Home Equity and Home Improvement - - 689 - 116,779 117,468 Consumer Finance - - 15 - 16,255 16,270 Total Loans $ 1,437,217 $ 31,858 $ 49,280 $ - $ 289,180 $ 1,807,535 |
Mortgage Banking (Tables)
Mortgage Banking (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 2016 2015 (In Thousands) Gain from sale of mortgage loans $ 994 $ 1,285 Mortgage loans servicing revenue (expense): Mortgage loans servicing revenue 877 875 Amortization of mortgage servicing rights (311) (411) Mortgage servicing rights valuation adjustments (21) 26 545 490 Net revenue from sale and servicing of mortgage loans $ 1,539 $ 1,775 |
Capitalized Mortgage and Valuation Allowance [Table Text Block] | Activity for capitalized mortgage servicing rights and the related valuation allowance follows for the three months ended March 31, 2016 and 2015: March 31, March 31, (In Thousands) Mortgage servicing assets: Balance at beginning of period $ 9,893 $ 9,923 Loans sold, servicing retained 297 320 Amortization (311) (411) Carrying value before valuation allowance at end of period 9,879 9,832 Valuation allowance: Balance at beginning of period (645) (911) Impairment (expense) recovery (21) 26 Balance at end of period (666) (885) Net carrying value of MSRs at end of period $ 9,213 $ 8,947 Fair value of MSRs at end of period $ 9,463 $ 9,180 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Deposits [Abstract] | |
Deposits [Table Text Block] | A summary of deposit balances is as follows: March 31, December 31, 2016 2015 (In Thousands) Non-interest-bearing checking accounts $ 426,053 $ 420,691 Interest-bearing checking and money market accounts 783,016 767,201 Savings deposits 233,546 219,655 Retail certificates of deposit less than $250,000 401,350 403,902 Retail certificates of deposit greater than $250,000 27,192 24,688 $ 1,871,157 $ 1,836,137 |
Borrowings (Tables)
Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Subordinated Borrowings [Abstract] | |
Federal Home Loan Bank Advances Disclosure [Table Text Block] | First Defiance’s debt, FHLB advances and junior subordinated debentures owed to unconsolidated subsidiary trusts are comprised of the following: March 31, December 31, (In Thousands) FHLB Advances: Single maturity fixed rate advances $ 72,000 $ 47,000 Putable advances 5,000 5,000 Amortizable mortgage advances 7,664 7,902 Total $ 84,664 $ 59,902 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 March 31, 2016 and December 31, 2015 is presented in the following tables. Overnight and Up to 30 30-90 Days Greater Total (In Thousands) At March 31, 2016 Repurchase agreements: Mortgage-backed securities residential $ 26,836 $ - $ - $ - $ 26,836 Collateralized mortgage obligations 31,149 - - - 31,149 Total borrowings $ 57,985 $ - $ - $ - $ 57,985 Gross amount of recognized liabilities for repurchase agreements $ 57,985 Overnight and Up to 30 30-90 Days Greater Total (In Thousands) At December 31, 2015 Repurchase agreements: Mortgage-backed securities residential $ 23,998 $ - $ - $ - $ 23,998 Collateralized mortgage obligations 33,190 - - - 33,190 Total borrowings $ 57,188 $ - $ - $ - $ 57,188 Gross amount of recognized liabilities for repurchase agreements $ 57,188 |
Commitments, Guarantees and C35
Commitments, Guarantees and Contingent Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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): March 31, 2016 December 31, 2015 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to make loans $ 48,269 $ 98,503 $ 80,862 $ 76,253 Unused lines of credit 22,727 372,404 31,991 323,171 Standby letters of credit - 19,033 - 19,632 Total $ 70,996 $ 489,940 $ 112,853 $ 419,056 |
Derivative Financial Instrume36
Derivative Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 recorded in other assets in the Consolidated Statements of Condition. March 31, 2016 December 31, 2015 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 $ 856 $ (78) $ 778 $ 558 $ - $ 558 |
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 March 31, 2016 2015 (In Thousands) Derivatives not designated as hedging instruments Mortgage Banking Derivatives Gain (Loss) $ 220 $ 438 |
Other Comprehensive Income (L37
Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 Amount (Benefit) Amount Three months ended March 31, 2016: (In Thousands) Securities available for sale: Change in net unrealized gain/loss during the period $ 1,450 $ (508) $ 942 Reclassification adjustment for net gains included in net income (131) 46 (85) Total other comprehensive loss $ 1,319 $ (462) $ 857 Three months ended March 31, 2015: Securities available for sale: Change in net unrealized gain/loss during the period $ 1,502 $ 527 $ 975 Reclassification adjustment for net gains included in net income - - - Total other comprehensive loss $ 1,502 $ 527 $ 975 |
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, 2016 $ 4,042 $ (420) $ 3,622 Other comprehensive income before reclassifications 942 - 942 Amounts reclassified from accumulated other comprehensive income (85) - (85) Net other comprehensive income during period 857 - 857 Balance March 31, 2016 $ 4,899 $ (420) $ 4,479 Balance January 1, 2015 $ 4,697 $ (583) $ 4,114 Other comprehensive income before reclassifications 975 - 975 Amounts reclassified from accumulated other comprehensive income - - - Net other comprehensive income during period 975 - 975 Balance March 31, 2015 $ 5,672 $ (583) $ 5,089 |
Affordable Housing Projects T38
Affordable Housing Projects Tax Credit Partnership (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Affordable Housing Projects Tax Credit Partnership [Abstract] | |
Other Commitments [Table Text Block] | As of March 31, 2016, the expected payments for unfunded affordable housing commitments were as follows: (dollars in thousands) Amount 2016 $ 1,259 2017 160 2018 414 2019 93 2020 66 Thereafter 247 Total Unfunded Commitments $ 2,239 |
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 months ended March 31, 2016 and 2015. Three Months Ended March 31, (dollars in thousands) 2016 2015 Proportional Amortization Method Tax credits and other tax benefits recognized $ 157 $ 118 Amortization expense in federal income taxes 119 89 |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Available for sale securities: | ||
Available for sale securities, Total Fair Value | $ 227,833 | $ 236,435 |
Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 69,528 | 71,799 |
Fair Value, Inputs, Level 1 [Member] | Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 69,528 | 71,799 |
Fair Value, Inputs, Level 3 [Member] | Collateralized mortgage obligations- residential [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Obligations of U.S. Government corporations and agencies [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 1,009 | 2,994 |
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 | 1,009 | 2,994 |
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 | 59,721 | 64,654 |
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 | 59,721 | 64,654 |
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 | 1,579 | 1,620 |
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 | 1,579 | 1,620 |
REMIC [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 | 4,988 | 4,977 |
Corporate bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | 0 |
Corporate bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 4,988 | 4,977 |
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 | 91,007 | 90,390 |
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 | 91,007 | 90,390 |
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 | 856 | 558 |
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 | 856 | 558 |
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 | 78 | |
Mortgage Banking Derivative Liability [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 0 | |
Mortgage Banking Derivative Liability [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | 78 | |
Mortgage Banking Derivative Liability [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available for sale securities: | ||
Available for sale securities, Total Fair Value | $ 0 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Impaired loans | ||
Total impaired loans | $ 5,111 | $ 5,146 |
Mortgage servicing rights | 3,547 | 872 |
Real estate held for sale | ||
Total real estate held for sale | 130 | 280 |
One To Four Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 258 | 398 |
Multi Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 83 | 91 |
Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 4,650 | 4,575 |
Real estate held for sale | ||
Total real estate held for sale | 130 | 280 |
Home Equity and Improvement [Member] | ||
Impaired loans | ||
Total impaired loans | 81 | 82 |
Residential Mortgage [Member] | ||
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Commercial Loan [Member] | ||
Impaired loans | ||
Total impaired loans | 39 | 0 |
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 | |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Total impaired loans | 0 | 0 |
Mortgage servicing rights | 3,547 | 872 |
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 | |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | ||
Total impaired loans | 5,111 | 5,146 |
Mortgage servicing rights | 0 | 0 |
Real estate held for sale | ||
Total real estate held for sale | 130 | 280 |
Fair Value, Inputs, Level 3 [Member] | One To Four Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 258 | 398 |
Fair Value, Inputs, Level 3 [Member] | Multi Family Residential Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 83 | 91 |
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate [Member] | ||
Impaired loans | ||
Total impaired loans | 4,650 | 4,575 |
Real estate held for sale | ||
Total real estate held for sale | 130 | 280 |
Fair Value, Inputs, Level 3 [Member] | Home Equity and Improvement [Member] | ||
Impaired loans | ||
Total impaired loans | 81 | 82 |
Fair Value, Inputs, Level 3 [Member] | Residential Mortgage [Member] | ||
Real estate held for sale | ||
Total real estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Commercial Loan [Member] | ||
Impaired loans | ||
Total impaired loans | $ 39 | $ 0 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Impaired Loans- Applies to all loan classes, Fair Value | $ 5,111 | $ 5,146 |
Real estate held for sale - Applies to all classes, Fair Value | 130 | 280 |
Range of Input 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 | $ 280 | |
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, Maximum | 30.00% | |
Fair Value Measurement Weighted Average Range | 30.00% | |
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 | $ 5,113 | $ 5,146 |
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% [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Real estate held for sale - Applies to all classes, Fair Value | $ 130 | |
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, Maximum | 20.00% | |
Fair Value Measurement Weighted Average Range | 20.00% |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Financial Assets, Carrying Value: | ||||
Cash and cash equivalents, Carrying Value | $ 123,785 | $ 79,769 | $ 81,472 | $ 112,936 |
Investment securities, Carrying Value | 228,068 | 236,678 | ||
Federal Home Loan Bank Stock, Carrying Value | 13,800 | 13,801 | ||
Loans, net, including loans held for sale, Carrying Value | 1,807,641 | 1,782,358 | ||
Accrued interest receivable, Carrying Value | 6,901 | 6,171 | ||
Financial Liabilities, Carrying Value: | ||||
Deposits, Carrying Value | 1,871,157 | 1,836,137 | ||
Advances from Federal Home Loan Bank, Carrying Value | 84,664 | 59,902 | ||
Securities sold under repurchase agreements, Carrying Value | 57,985 | 57,188 | ||
Subordinated debentures, Carrying Value | 36,083 | 36,083 | ||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 123,785 | 79,769 | ||
Investment securities, Fair Value | 228,071 | 236,680 | ||
Loans, net, including loans held for sale, Fair Value | 1,816,978 | 1,784,998 | ||
Accrued interest receivable, Fair Value | 6,901 | 6,171 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 1,875,050 | 1,840,464 | ||
Advances from Federal Home Loan Bank, Fair Value | 85,127 | 59,653 | ||
Securities sold under repurchase agreements, Fair Value | 57,985 | 57,188 | ||
Subordinated debentures, Fair Value | 35,352 | 35,305 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial Assets, Fair Value: | ||||
Cash and cash equivalents, Fair Value | 123,785 | 79,769 | ||
Investment securities, Fair Value | 1 | 1 | ||
Loans, net, including loans held for sale, Fair Value | 0 | 0 | ||
Accrued interest receivable, Fair Value | 4 | 7 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 426,053 | 420,691 | ||
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 | 228,070 | 236,679 | ||
Loans, net, including loans held for sale, Fair Value | 8,968 | 5,899 | ||
Accrued interest receivable, Fair Value | 1,324 | 846 | ||
Financial Liabilities, Fair Value: | ||||
Deposits, Fair Value | 1,449,852 | 1,419,773 | ||
Advances from Federal Home Loan Bank, Fair Value | 85,127 | 59,653 | ||
Securities sold under repurchase agreements, Fair Value | 57,985 | 57,188 | ||
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 | 1,808,010 | 1,779,099 | ||
Accrued interest receivable, Fair Value | 5,573 | 5,318 | ||
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 | $ 35,352 | $ 35,305 |
Fair Value (Details Textual)
Fair Value (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | $ 5,111,000 | $ 5,146,000 | |
Impaired Financing Receivables, Provisional Expenses | 119,000 | $ 621,000 | |
Mortgage Servicing Rights at Fair Value | 3,547,000 | 872,000 | |
Valuation Allowance of Mortgage Servicing Rights | 666,000 | 645,000 | |
Proceeds from Collection of Loans Receivable | 21,000 | 26,000 | |
Real Estate Held-for-sale, Increase (Decrease) in Fair Value | 53,000 | $ 522,000 | |
Impaired Financing Receivable, Related Allowance | $ 400,000 | 437,000 | |
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 | $ 5,100,000 | 5,100,000 | |
Impaired Financing Receivable, Related Allowance | $ 8,000 | $ 8,000 |
Incentive Compensation Plans (D
Incentive Compensation Plans (Details) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Expected average risk-free rate | 2.24% | 2.04% |
Expected average life | 10 years | 10 years |
Expected volatility | 41.00% | 42.00% |
Expected dividend yield | 2.33% | 2.10% |
Incentive Compensation Plans 45
Incentive Compensation Plans (Details 1) $ / shares in Units, $ in Thousands | 3 Months Ended |
Mar. 31, 2016USD ($)$ / sharesshares | |
Options outstanding, January 1, 2016 | shares | 86,220 |
Options Outstanding, Forfeited or cancelled | shares | 0 |
Options Outstanding, Exercised | shares | (17,670) |
Options Outstanding, Granted | shares | 6,500 |
Options outstanding, March 31, 2016 | shares | 75,050 |
Options Outstanding, Vested or expected to vest at March 31, 2016 | shares | 75,050 |
Options Outstanding, Exercisable at March 31, 2016 | shares | 57,250 |
Weighted Average Exercise Price, Outstanding, January 1, 2016 | $ / shares | $ 20.27 |
Weighted Average Exercise Price, Forfeited or cancelled | $ / shares | 0 |
Weighted Average Exercise Price, Exercised | $ / shares | 20.03 |
Weighted Average Exercise Price, Granted | $ / shares | 37.78 |
Weighted Average Exercise Price, Outstanding, March 31, 2016 | $ / shares | 21.84 |
Weighted Average Exercise Price, Vested or expected to vest at March 31, 2016 | $ / shares | 21.84 |
Weighted Average Exercise Price, Exercisable at March 31, 2016 | $ / shares | $ 18.49 |
Weighted Average Remaining Contractual Term (in years), Outstanding, March 31, 2016 | 3 years 8 months 16 days |
Weighted Average Remaining Contractual Term (in years), Vested or expected to vest at March 31, 2016 | 3 years 8 months 16 days |
Weighted Average Remaining Contractual Term (in years), Exercisable at March 31, 2016 | 2 years 1 month 10 days |
Aggregate Intrinsic Value, Outstanding, March 31, 2016 | $ | $ 1,244 |
Aggregate Intrinsic Value, Vested or expected to vest at March 31, 2016 | $ | 1,244 |
Aggregate Intrinsic Value, Exercisable at March 31, 2016 | $ | $ 1,140 |
Incentive Compensation Plans 46
Incentive Compensation Plans (Details 2) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Proceeds of options exercised | $ 314 | $ 723 |
Employee Stock Option [Member] | ||
Proceeds of options exercised | 353 | 1,059 |
Related tax benefit recognized | 75 | 91 |
Intrinsic value of options exercised | $ 326 | $ 512 |
Incentive Compensation Plans 47
Incentive Compensation Plans (Details 3) | 3 Months Ended |
Mar. 31, 2016$ / sharesshares | |
Restricted Stock Units (RSUs) [Member] | |
Shares, Unvested at January 1, 2016 | shares | 74,545 |
Shares, Granted | shares | 24,526 |
Shares, Vested | shares | (7,011) |
Shares, Forfeited | shares | (16,592) |
Shares, Unvested at March 31, 2016 | shares | 75,468 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2016 | $ / shares | $ 25.86 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 39.30 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 19.19 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 19.19 |
Weighted-Average Grant Date Fair Value, Unvested at March 31, 2016 | $ / shares | $ 32.31 |
Stock Grants [Member] | |
Shares, Unvested at January 1, 2016 | shares | 10,927 |
Shares, Granted | shares | 9,033 |
Shares, Vested | shares | (7,011) |
Shares, Forfeited | shares | (500) |
Shares, Unvested at March 31, 2016 | shares | 12,449 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2016 | $ / shares | $ 30.98 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 23.28 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 19.19 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 32 |
Weighted-Average Grant Date Fair Value, Unvested at March 31, 2016 | $ / shares | $ 31.99 |
Incentive Compensation Plans 48
Incentive Compensation Plans (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2011 | Dec. 31, 2009 | Mar. 15, 2010 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 75,050 | 86,220 | |||||
Stock Option Period, Description | All options expire ten years from the date of grant. Vested options of retirees expire on the earlier of the scheduled expiration date or three months after the retirement date. | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | $ 214,000 | ||||||
Employee Service Share Based Compensation Nonvested Awards, Total Compensation Cost Not Yet Recognized, Period For Recognition (in years) | 3 years 10 months 24 days | ||||||
Allocated Share-based Compensation Expense | $ 261,000 | $ 226,000 | |||||
Compensation Expense, Maximum | 3,400,000 | ||||||
Estimated Compensation Expense, Excepted | 2,300,000 | ||||||
Unrecognized Compensation Expense | $ 1,600,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 13.95 | $ 13.13 | |||||
Deferred Compensation Share-based Arrangements, Liability, Current | $ 191,000 | ||||||
Restricted Stock Units (Rsus) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,022 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 75,468 | ||||||
Restricted Stock Units (Rsus) [Member] | One-year vesting period [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||
Restricted Stock Units (Rsus) [Member] | Four-year vesting period [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,022 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||
Equity Plan 2010 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 350,000 | ||||||
Long Term Equity Incentive Plan 2013 [Member] | Restricted Stock Units (Rsus) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 7,011 | 30,538 | |||||
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] | |||||||
Option Subscription, Description | The final amount of benefits under the 2014 STIP were determined as of December 31, 2014 and were paid out in cash in the first quarter of 2015. | ||||||
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] | |||||||
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 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. | ||||||
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] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 24,757 | ||||||
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 benefits earned under the 2015 LTIP will be paid out in common shares 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 | 30.00% | ||||||
Short Term Equity Incentive Plan 2015 [Member] | |||||||
Option Subscription, Description | The final amount of benefits under the 2015 STIP were determined as of December 31, 2015 and were paid out in cash in the first quarter of 2016. The participants are required to be employed on the day of payout in order to receive such payment. | ||||||
Long Term Equity Incentive Plan 2016 [Member] | |||||||
Option Subscription, Description | The amount of benefit under the 2016 LTIP will be determined individually at the end of the 36 month performance period ending December 31, 2018. The benefits earned under the 2016 LTIP will be paid out in common shares in the first quarter of 2019. The participants are required to be employed on the day of payout in order to receive such payment. | ||||||
Long Term Equity Incentive Plan 2016 [Member] | Restricted Stock Units (Rsus) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 24,526 | ||||||
Long Term Equity Incentive Plan 2016 [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | ||||||
Long Term Equity Incentive Plan 2016 [Member] | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 20.00% | ||||||
Stock Grants [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 12,449 | 10,927 | |||||
Short Term Equity Incentive Plan 2016 [Member] | |||||||
Option Subscription, Description | The final amount of benefits under the 2016 STIP will be determined as of December 31, 2016 and will be paid out in cash in the first quarter of 2017. The participants are required to be employed on the day of payout in order to receive such payment. | ||||||
Short Term Equity Incentive Plan 2016 [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 45.00% | ||||||
Short Term Equity Incentive Plan 2016 [Member] | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 10.00% |
Dividends on Common Stock (Deta
Dividends on Common Stock (Details Textual) - $ / shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.22 | $ 0.175 |
Common Stock, Dividends, Per Share, Declared | $ 0.22 | $ 0.175 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Numerator for basic and diluted earnings per common share - Net income | $ 7,070 | $ 6,601 |
Denominator: | ||
Denominator for basic earnings per common share - weighted average common shares | 8,994 | 9,234 |
Effect of warrants | 0 | 291 |
Effect of employee stock options | 70 | 86 |
Denominator for diluted earnings per common share | 9,064 | 9,611 |
Basic earnings per common share | $ 0.79 | $ 0.71 |
Diluted earnings per common share | $ 0.78 | $ 0.69 |
Earnings Per Common Share (De51
Earnings Per Common Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 12,550 | 16,750 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | ||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | $ 220,296 | $ 230,218 | |
Available-for-Sale Securities, Gross Unrealized Gains | 7,662 | 6,655 | |
Available-for-Sale Securities, Gross Unrealized Losses | (125) | (438) | |
Available-for-Sale Securities, Fair Value | 227,833 | 236,435 | |
Held-to-Maturity Securities: | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 235 | 243 |
Held-to-Maturity Securities, Gross Unrealized Gains | [1] | 3 | 3 |
Held-to-Maturity Securities, Gross Unrealized Losses | [1] | 0 | (1) |
Held-to-Maturity Securities, Fair Value | [1] | 238 | 245 |
Obligations of U.S. government corporations and agencies | |||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | 1,000 | 3,000 | |
Available-for-Sale Securities, Gross Unrealized Gains | 9 | 1 | |
Available-for-Sale Securities, Gross Unrealized Losses | 0 | (7) | |
Available-for-Sale Securities, Fair Value | 1,009 | 2,994 | |
Mortgage-backed securities - residential | |||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | 58,431 | 63,815 | |
Available-for-Sale Securities, Gross Unrealized Gains | 1,290 | 898 | |
Available-for-Sale Securities, Gross Unrealized Losses | 0 | (59) | |
Available-for-Sale Securities, Fair Value | 59,721 | 64,654 | |
REMICs | |||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | 1,542 | 1,592 | |
Available-for-Sale Securities, Gross Unrealized Gains | 37 | 28 | |
Available-for-Sale Securities, Gross Unrealized Losses | 0 | 0 | |
Available-for-Sale Securities, Fair Value | 1,579 | 1,620 | |
Collateralized mortgage obligations | |||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | 68,108 | 71,176 | |
Available-for-Sale Securities, Gross Unrealized Gains | 1,511 | 976 | |
Available-for-Sale Securities, Gross Unrealized Losses | (91) | (353) | |
Available-for-Sale Securities, Fair Value | 69,528 | 71,799 | |
Trust preferred securities 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 | 4,963 | 4,955 | |
Available-for-Sale Securities, Gross Unrealized Gains | 36 | 39 | |
Available-for-Sale Securities, Gross Unrealized Losses | (11) | (17) | |
Available-for-Sale Securities, Fair Value | 4,988 | 4,977 | |
Obligations of state and political subdivisions | |||
Available-for-Sale Securities: | |||
Available-for-Sale Securities, Amortized Cost | 86,252 | 85,680 | |
Available-for-Sale Securities, Gross Unrealized Gains | 4,778 | 4,712 | |
Available-for-Sale Securities, Gross Unrealized Losses | (23) | (2) | |
Available-for-Sale Securities, Fair Value | 91,007 | 90,390 | |
Held-to-Maturity Securities: | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 124 | 124 |
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 | 124 |
FHLMC certificates | |||
Held-to-Maturity Securities: | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 13 | 14 |
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] | 13 | 14 |
FNMA certificates | |||
Held-to-Maturity Securities: | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 69 | 74 |
Held-to-Maturity Securities, Gross Unrealized Gains | [1] | 2 | 2 |
Held-to-Maturity Securities, Gross Unrealized Losses | [1] | 0 | (1) |
Held-to-Maturity Securities, Fair Value | [1] | 71 | 75 |
GNMA certificates | |||
Held-to-Maturity Securities: | |||
Held-to-Maturity Securities, Amortized Cost | [1] | 29 | 31 |
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] | $ 30 | $ 32 |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investment Securities (Details
Investment Securities (Details 1) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | |
Available-for-sale, Due in one year or less, Amortized Cost | $ 5,796 | ||
Available-for-sale, Due after one year through five years, Amortized Cost | 10,945 | ||
Available-for-sale, Due after five years through ten years, Amortized Cost | 35,632 | ||
Available-for-sale, Due after ten years, Amortized Cost | 39,842 | ||
Available-for-sale, MBS/CMO/REMIC, Amortized Cost | 128,081 | ||
Available-for-sale, Amortized Cost | 220,296 | ||
Available-for-sale, Due in one year or less, Fair Value | 5,824 | ||
Available-for-sale, Due after one year through five years, Fair Value | 11,395 | ||
Available-for-sale, Due after five years through ten years, Fair Value | 37,833 | ||
Available-for-sale, Due after ten years, Fair Value | 41,953 | ||
Available-for-sale, MBS/CMO/REMIC, Fair Value | 130,828 | ||
Available-for-sale, Fair Value | 227,833 | $ 236,435 | |
Held-to-maturity Securities, Due in one year or less, Amortized Cost | 0 | ||
Held-to-maturity Securities, Due after one year through five years, Amortized Cost | 124 | ||
Held-to-maturity,Securities, Due after five years through ten years, Amortized Cost | 0 | ||
Held-to-maturity Securities, Due after ten years,Amorized Cost | 0 | ||
Held-to-maturity, MBS/CMO/REMIC, Amortized Cost | 111 | ||
Held-to-maturity, Amortized Cost | [1] | 235 | 243 |
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/REMIC, Fair Value | 114 | ||
Held-to-maturity, Fair Value | [1] | $ 238 | $ 245 |
[1] | FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities. |
Investment Securities (Detail54
Investment Securities (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Held to maturity securities: | ||
Total temporarily impaired securities, Duration Unrealized Loss Position, Less Than Twelve Months, Fair Value | $ 3,725 | $ 26,888 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Less Than 12 Months, Gross Unrealized Loss | (51) | (234) |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Fair Value | 8,505 | 8,591 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Twelve Months or Longer, Gross Unrealized Loss | (74) | (205) |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Fair Value | 12,230 | 35,479 |
Total temporarily impaired securities, Duration of Unrealized Loss Position, Gross Unrealized Loss | (125) | (439) |
FNMA certificates | ||
Held to maturity securities: | ||
Held-to-maturity Securities, Duration of Unrealized Loss Position, Less than Twelve Months, Fair Value | 13 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Less than 12 Months, Gross Unrealized Loss | (1) | |
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 | 13 | |
Held-to-maturity Securities, Duration of Unrealized Loss Position, Gross Unrealized Loss | (1) | |
Collateralized mortgage obligations [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 1,921 | 12,374 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (17) | (150) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 8,505 | 8,158 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | (74) | (203) |
Available-for-sale securities, Total, Fair Value | 10,426 | 20,532 |
Available-for-sale securities, Total, Unrealized Loss | (91) | (353) |
Corporate bonds | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 989 | 983 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (11) | (17) |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | 0 |
Available-for-sale securities, Total, Fair Value | 989 | 983 |
Available-for-sale securities, Total, Unrealized Loss | (11) | (17) |
Obligations of state and political subdivisions | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 815 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (23) | 0 |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | 433 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | (2) |
Available-for-sale securities, Total, Fair Value | 815 | 433 |
Available-for-sale securities, Total, Unrealized Loss | $ (23) | (2) |
Mortgage-backed securities - residential | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 12,525 | |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (59) | |
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 | 12,525 | |
Available-for-sale securities, Total, Unrealized Loss | (59) | |
Us Government Corporations and Agencies Securities [Member] | ||
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 993 | |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | (7) | |
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 | 993 | |
Available-for-sale securities, Total, Unrealized Loss | $ (7) |
Investment Securities (Detail55
Investment Securities (Details 4) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Proceeds | $ 5,360 | $ 0 |
Gross realized gains | 131 | 0 |
Gross realized losses | $ 0 | $ 0 |
Investment Securities (Detail56
Investment Securities (Details Textual) | 3 Months Ended | |
Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | |
Security Owned and Pledged as Collateral Carrying Value | $ 142,600,000 | |
Investment Portfolio, Number of Securities | 357 | |
Investment Portfolio, Number of Securities, Unrealized Loss | 13 | |
Realized Investment Gains (Losses) | $ 131,000 | $ 0 |
Realized Investment Gains Losses, Net of Tax | 92,000 | 0 |
Other Comprehensive Income (Loss), before Tax | 1,319,000 | 1,502,000 |
Collateralized Debt Obligations [Member] | ||
Other Comprehensive Income (Loss), before Tax | $ 0 | $ 0 |
Loans (Details)
Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Real Estate: | ||||
Real Estate | $ 1,343,921 | $ 1,317,635 | ||
Other Loans: | ||||
Other Loans | 545,446 | 552,592 | ||
Total loans | 1,889,367 | 1,870,227 | ||
Deduct: | ||||
Undisbursed loan funds | (63,267) | (66,902) | ||
Net deferred loan origination fees and costs | (1,114) | (1,108) | ||
Allowance for loan loss | (25,668) | (25,382) | $ (25,302) | $ (24,766) |
Totals | 1,799,318 | 1,776,835 | ||
One to Four Family Residential Real Estate [Member] | ||||
Real Estate: | ||||
Real Estate | 208,818 | 205,330 | ||
Multi Family Residential [Member] | ||||
Real Estate: | ||||
Real Estate | 181,486 | 167,558 | ||
Commercial Real Estate [Member] | ||||
Real Estate: | ||||
Real Estate | 807,982 | 780,870 | ||
Construction Loans [Member] | ||||
Real Estate: | ||||
Real Estate | 145,635 | 163,877 | ||
Commercial Loan [Member] | ||||
Other Loans: | ||||
Other Loans | 412,911 | 419,349 | ||
Home Equity and Home Improvement [Member] | ||||
Other Loans: | ||||
Other Loans | 116,856 | 116,962 | ||
Consumer finance [Member] | ||||
Other Loans: | ||||
Other Loans | $ 15,679 | $ 16,281 |
Loans (Details 1)
Loans (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | $ 25,382 | $ 24,766 |
Charge-Offs | (434) | (281) |
Recoveries | 356 | 697 |
Provisions | 364 | 120 |
Ending Allowance | 25,668 | 25,302 |
One to Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 3,212 | 2,494 |
Charge-Offs | (55) | (78) |
Recoveries | 86 | 19 |
Provisions | (134) | 48 |
Ending Allowance | 3,109 | 2,483 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 2,151 | 2,453 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Provisions | 99 | 101 |
Ending Allowance | 2,250 | 2,554 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 11,772 | 11,268 |
Charge-Offs | (13) | (155) |
Recoveries | 177 | 597 |
Provisions | (292) | (26) |
Ending Allowance | 11,644 | 11,684 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 517 | 221 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Provisions | (28) | 82 |
Ending Allowance | 489 | 303 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 5,255 | 6,509 |
Charge-Offs | (336) | (2) |
Recoveries | 19 | 40 |
Provisions | 882 | 219 |
Ending Allowance | 5,820 | 6,766 |
Home Equity and Home Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 2,304 | 1,704 |
Charge-Offs | (30) | (43) |
Recoveries | 39 | 29 |
Provisions | (81) | (270) |
Ending Allowance | 2,232 | 1,420 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Allowance | 171 | 117 |
Charge-Offs | 0 | (3) |
Recoveries | 35 | 12 |
Provisions | (82) | (34) |
Ending Allowance | $ 124 | $ 92 |
Loans (Details 2)
Loans (Details 2) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Ending allowance balance attributable to loans: | ||
Individually evaluated for impairment | $ 400 | $ 437 |
Collectively evaluated for impairment | 25,268 | 24,945 |
Total ending allowance balance | 25,668 | 25,382 |
Loans: | ||
Loans individually evaluated for impairment | 37,862 | 42,049 |
Loans collectively evaluated for impairment | 1,792,532 | 1,765,317 |
Loans acquired with deteriorated credit quality | 165 | 169 |
Total ending loans balance | 1,830,559 | 1,807,535 |
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 | 197 | 201 |
Collectively evaluated for impairment | 2,912 | 3,011 |
Total ending allowance balance | 3,109 | 3,212 |
Loans: | ||
Loans individually evaluated for impairment | 7,570 | 7,574 |
Loans collectively evaluated for impairment | 201,561 | 198,106 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 209,131 | 205,680 |
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 | 2,250 | 2,151 |
Total ending allowance balance | 2,250 | 2,151 |
Loans: | ||
Loans individually evaluated for impairment | 4,543 | 3,313 |
Loans collectively evaluated for impairment | 177,091 | 164,382 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 181,634 | 167,695 |
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 | 154 | 139 |
Collectively evaluated for impairment | 11,490 | 11,633 |
Total ending allowance balance | 11,644 | 11,772 |
Loans: | ||
Loans individually evaluated for impairment | 18,517 | 23,493 |
Loans collectively evaluated for impairment | 791,608 | 759,281 |
Loans acquired with deteriorated credit quality | 150 | 153 |
Total ending loans balance | 810,275 | 782,927 |
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 | 489 | 517 |
Total ending allowance balance | 489 | 517 |
Loans: | ||
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 82,208 | 96,845 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 82,208 | 96,845 |
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 | 11 | 63 |
Collectively evaluated for impairment | 5,809 | 5,192 |
Total ending allowance balance | 5,820 | 5,255 |
Loans: | ||
Loans individually evaluated for impairment | 5,423 | 6,107 |
Loans collectively evaluated for impairment | 408,820 | 414,527 |
Loans acquired with deteriorated credit quality | 15 | 16 |
Total ending loans balance | 414,258 | 420,650 |
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 | 38 | 34 |
Collectively evaluated for impairment | 2,194 | 2,270 |
Total ending allowance balance | 2,232 | 2,304 |
Loans: | ||
Loans individually evaluated for impairment | 1,740 | 1,491 |
Loans collectively evaluated for impairment | 115,641 | 115,977 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 117,381 | 117,468 |
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 | 0 | 0 |
Collectively evaluated for impairment | 124 | 171 |
Total ending allowance balance | 124 | 171 |
Loans: | ||
Loans individually evaluated for impairment | 69 | 71 |
Loans collectively evaluated for impairment | 15,603 | 16,199 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 15,672 | 16,270 |
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 | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | $ 38,278 | $ 40,803 |
Interest Income Recognized | 308 | 352 |
Cash Basis Income Recognized | 265 | 365 |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 4,025 | 5,992 |
Interest Income Recognized | 39 | 68 |
Cash Basis Income Recognized | 39 | 68 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 3,557 | 4,347 |
Interest Income Recognized | 35 | 41 |
Cash Basis Income Recognized | 34 | 40 |
Total Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 7,582 | 10,339 |
Interest Income Recognized | 74 | 109 |
Cash Basis Income Recognized | 73 | 108 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 0 | 150 |
Interest Income Recognized | 0 | 2 |
Cash Basis Income Recognized | 0 | 2 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 4,593 | 2,463 |
Interest Income Recognized | 30 | 8 |
Cash Basis Income Recognized | 30 | 8 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 9,090 | 6,513 |
Interest Income Recognized | 62 | 37 |
Cash Basis Income Recognized | 48 | 39 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 4,418 | 10,187 |
Interest Income Recognized | 53 | 133 |
Cash Basis Income Recognized | 49 | 135 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 3,593 | 760 |
Interest Income Recognized | 35 | 7 |
Cash Basis Income Recognized | 12 | 13 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 1,422 | 2,441 |
Interest Income Recognized | 4 | 10 |
Cash Basis Income Recognized | 4 | 9 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 18,523 | 19,901 |
Interest Income Recognized | 154 | 187 |
Cash Basis Income Recognized | 113 | 196 |
Commercial Working Capital [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 1,513 | 1,866 |
Interest Income Recognized | 15 | 13 |
Cash Basis Income Recognized | 15 | 13 |
Commercial Loans Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 4,245 | 3,839 |
Interest Income Recognized | 19 | 13 |
Cash Basis Income Recognized | 18 | 18 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 5,758 | 5,705 |
Interest Income Recognized | 34 | 26 |
Cash Basis Income Recognized | 33 | 31 |
Home Equity and Home Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 1,749 | 2,202 |
Interest Income Recognized | 15 | 20 |
Cash Basis Income Recognized | 15 | 20 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average Balance | 73 | 43 |
Interest Income Recognized | 1 | 0 |
Cash Basis Income Recognized | $ 1 | $ 0 |
Loans (Details 4)
Loans (Details 4) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | |
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | $ 29,282 | $ 33,510 |
Recorded Investment, With no allowance | 28,077 | 32,747 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 10,779 | 10,360 |
Recorded Investment, With an Allowance | 9,785 | 9,302 | |
Allowance for Loan Losses Allocated, With an Allowance | 400 | 437 | |
Residential Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 1,450 | 1,383 |
Recorded Investment, With no allowance | 1,455 | 1,360 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 2,609 | 2,918 |
Recorded Investment, With an Allowance | 2,556 | 2,837 | |
Allowance for Loan Losses Allocated, With an Allowance | 183 | 188 | |
Residential Non Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 2,237 | 2,147 |
Recorded Investment, With no allowance | 2,232 | 2,141 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,322 | 1,231 |
Recorded Investment, With an Allowance | 1,327 | 1,236 | |
Allowance for Loan Losses Allocated, With an Allowance | 14 | 13 | |
One To Four Family Residential Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 3,687 | 3,530 |
Recorded Investment, With no allowance | 3,687 | 3,501 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 3,931 | 4,149 |
Recorded Investment, With an Allowance | 3,883 | 4,073 | |
Allowance for Loan Losses Allocated, With an Allowance | 197 | 201 | |
Multi Family Residential Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 4,688 | 3,463 |
Recorded Investment, With no allowance | 4,543 | 3,313 | |
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] | 6,725 | 4,869 |
Recorded Investment, With no allowance | 6,290 | 4,520 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 3,191 | 3,250 |
Recorded Investment, With an Allowance | 2,732 | 2,767 | |
Allowance for Loan Losses Allocated, With an Allowance | 140 | 132 | |
Commercial Real Estate Non Owner Occupied [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 3,441 | 7,932 |
Recorded Investment, With no allowance | 3,183 | 7,685 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 1,291 | 385 |
Recorded Investment, With an Allowance | 1,225 | 308 | |
Allowance for Loan Losses Allocated, With an Allowance | 10 | 2 | |
Agriculture Land [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 3,529 | 3,546 |
Recorded Investment, With no allowance | 3,602 | 3,596 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 68 | 68 |
Recorded Investment, With an Allowance | 69 | 69 | |
Allowance for Loan Losses Allocated, With an Allowance | 1 | 2 | |
Commercial Real Estate Other Receivables [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 964 | 4,076 |
Recorded Investment, With no allowance | 934 | 4,046 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 905 | 926 |
Recorded Investment, With an Allowance | 482 | 502 | |
Allowance for Loan Losses Allocated, With an Allowance | 3 | 3 | |
Commercial Real Estate [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 14,659 | 20,423 |
Recorded Investment, With no allowance | 14,009 | 19,847 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 5,455 | 4,629 |
Recorded Investment, With an Allowance | 4,508 | 3,646 | |
Allowance for Loan Losses Allocated, With an Allowance | 154 | 139 | |
Construction [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 0 | 0 |
Recorded Investment, With no allowance | 0 | 0 | |
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] | 1,264 | 1,644 |
Recorded Investment, With no allowance | 1,267 | 1,648 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 200 | 594 |
Recorded Investment, With an Allowance | 201 | 596 | |
Allowance for Loan Losses Allocated, With an Allowance | 9 | 62 | |
Commercial Loans Other [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 4,084 | 3,573 |
Recorded Investment, With no allowance | 3,715 | 3,607 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 236 | 252 |
Recorded Investment, With an Allowance | 240 | 256 | |
Allowance for Loan Losses Allocated, With an Allowance | 2 | 1 | |
Commercial Loan [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 5,348 | 5,217 |
Recorded Investment, With no allowance | 4,982 | 5,255 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 436 | 846 |
Recorded Investment, With an Allowance | 441 | 852 | |
Allowance for Loan Losses Allocated, With an Allowance | 11 | 63 | |
Home Equity and Home Improvement [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 832 | 817 |
Recorded Investment, With no allowance | 787 | 772 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 957 | 724 |
Recorded Investment, With an Allowance | 953 | 719 | |
Allowance for Loan Losses Allocated, With an Allowance | 38 | 34 | |
Consumer Finance [Member] | |||
Impaired loans | |||
Unpaid Principal Balance, With no allowance | [1] | 68 | 60 |
Recorded Investment, With no allowance | 69 | 59 | |
Allowance for Loan Losses Allocated, With no allowance | 0 | 0 | |
Unpaid Principal Balance, With an Allowance | [1] | 0 | 12 |
Recorded Investment, With an Allowance | 0 | 12 | |
Allowance for Loan Losses Allocated, With an Allowance | $ 0 | $ 0 | |
[1] | Presented gross of charge offs |
Loans (Details 5)
Loans (Details 5) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | $ 17,707 | $ 16,261 |
Loans over 90 days past due and still accruing | 0 | 0 |
Total non-performing loans | 17,707 | 16,261 |
Real estate and other assets held for sale | 1,111 | 1,321 |
Total non-performing assets | 18,818 | 17,582 |
Troubled debt restructuring, still accruing | $ 11,284 | $ 11,178 |
Loans (Details 6)
Loans (Details 6) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | $ 1,820,589 | $ 1,795,545 |
Total Past Due | 9,970 | 11,990 |
Total Non Accrual | 17,709 | 16,262 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,404 | 2,291 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 484 | 2,494 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 7,082 | 7,205 |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 141,424 | 138,974 |
Total Past Due | 1,031 | 1,223 |
Total Non Accrual | 1,766 | 1,428 |
Residential Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 83 | 159 |
Residential Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 204 | 673 |
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 | 744 | 391 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 65,891 | 64,577 |
Total Past Due | 785 | 906 |
Total Non Accrual | 1,359 | 1,179 |
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 | 63 | 324 |
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 | 54 | 356 |
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 | 668 | 226 |
One To Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 207,315 | 203,551 |
Total Past Due | 1,816 | 2,129 |
Total Non Accrual | 3,125 | 2,607 |
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 | 146 | 483 |
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 | 258 | 1,029 |
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 | 1,412 | 617 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 179,659 | 165,671 |
Total Past Due | 1,975 | 2,024 |
Total Non Accrual | 2,356 | 2,417 |
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 | 0 |
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 | 1,975 | 2,024 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 342,703 | 322,940 |
Total Past Due | 545 | 3,256 |
Total Non Accrual | 4,843 | 4,141 |
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 | 54 | 772 |
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 | 0 | 1,218 |
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 | 491 | 1,266 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 310,095 | 304,166 |
Total Past Due | 1,746 | 644 |
Total Non Accrual | 1,165 | 1,229 |
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 | 1,002 | 0 |
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 | 108 | 106 |
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 | 636 | 538 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 104,271 | 98,055 |
Total Past Due | 186 | 57 |
Total Non Accrual | 681 | 695 |
Agriculture Land [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 186 | 57 |
Agriculture Land [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
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 | 50,444 | 53,494 |
Total Past Due | 285 | 315 |
Total Non Accrual | 1,293 | 1,364 |
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 | 0 |
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 | 285 | 315 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 807,513 | 778,655 |
Total Past Due | 2,762 | 4,272 |
Total Non Accrual | 7,982 | 7,429 |
Commercial Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,242 | 829 |
Commercial Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 108 | 1,324 |
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 | 1,412 | 2,119 |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 82,208 | 96,845 |
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 | 170,282 | 168,938 |
Total Past Due | 151 | 170 |
Total Non Accrual | 569 | 251 |
Commercial Working Capital [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 10 | 16 |
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 | 141 | 154 |
Commercial Loans Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 241,556 | 249,070 |
Total Past Due | 2,269 | 2,472 |
Total Non Accrual | 2,990 | 2,833 |
Commercial Loans Other [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 163 | 203 |
Commercial Loans Other [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 46 |
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 | 2,106 | 2,223 |
Commercial Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 411,838 | 418,008 |
Total Past Due | 2,420 | 2,642 |
Total Non Accrual | 3,559 | 3,084 |
Commercial Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 173 | 219 |
Commercial Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 46 |
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 | 2,247 | 2,377 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 15,616 | 16,216 |
Total Past Due | 56 | 54 |
Total Non Accrual | 13 | 36 |
Consumer Finance [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 51 | 27 |
Consumer Finance [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 5 | 3 |
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 | 24 |
Home Equity and Home Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 116,440 | 116,599 |
Total Past Due | 941 | 869 |
Total Non Accrual | 674 | 689 |
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 | 792 | 733 |
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 | 113 | 92 |
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 | $ 36 | $ 44 |
Loans (Details 7)
Loans (Details 7) - TDRs [Member] $ in Thousands | 3 Months Ended | |
Mar. 31, 2016USD ($)Numbers | Mar. 31, 2015USD ($)Numbers | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Numbers | 10 | 15 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 438 | $ 365 |
1-4 Family Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Numbers | 1 | 3 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 9 | $ 228 |
1-4 Family Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Numbers | 2 | 4 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 127 | $ 68 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Numbers | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Numbers | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Numbers | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Numbers | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Numbers | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 |
Other Commercial Working Capital [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Numbers | 0 | 0 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 0 | $ 0 |
Home Equity and Home Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Numbers | 5 | 3 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 297 | $ 59 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings, Number of Loans | Numbers | 2 | 5 |
Troubled Debt Restructurings, Recorded Investment | $ | $ 5 | $ 10 |
Loans (Details 8)
Loans (Details 8) - Subsequently Defaulted [Member] $ in Thousands | 3 Months Ended | |
Mar. 31, 2016USD ($)Numbers | Mar. 31, 2015USD ($)Numbers | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Numbers | 0 | 5 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 737 |
1-4 Family Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Numbers | 0 | 1 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 126 |
1-4 Family Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Numbers | 0 | 1 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 104 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Numbers | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Numbers | 0 | 2 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 387 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Numbers | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Real Estate Other Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Numbers | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Commercial Working Capital [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Numbers | 0 | 1 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 120 |
Commercial Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Numbers | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Home Equity and Home Improvement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Numbers | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | Numbers | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 0 | $ 0 |
Loans (Details 9)
Loans (Details 9) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | $ 1,830,559 | $ 1,807,535 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,458,870 | 1,437,217 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 37,413 | 31,858 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 42,389 | 49,280 |
Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 291,887 | 289,180 |
Residential Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 142,455 | 140,198 |
Residential Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,940 | 5,828 |
Residential Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 121 | 123 |
Residential Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,298 | 2,427 |
Residential Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Residential Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 135,096 | 131,820 |
Residential Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 66,676 | 65,482 |
Residential Non Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 56,739 | 55,169 |
Residential Non Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,263 | 1,420 |
Residential Non Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,416 | 4,439 |
Residential Non Owner Occupied [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Residential Non Owner Occupied [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,258 | 4,454 |
One To Four Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 209,131 | 205,680 |
One To Four Family Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 61,679 | 60,997 |
One To Four Family Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 1,384 | 1,543 |
One To Four Family Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 6,714 | 6,866 |
One To Four Family Residential Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
One To Four Family Residential Real Estate [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 139,354 | 136,274 |
Multi Family Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 181,634 | 167,695 |
Multi Family Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 176,033 | 163,405 |
Multi Family Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 488 | 498 |
Multi Family Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,996 | 3,675 |
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 | 117 | 117 |
Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 343,357 | 326,196 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 315,063 | 297,856 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 17,831 | 17,896 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 9,847 | 9,730 |
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 | 616 | 714 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 311,731 | 304,810 |
Commercial Real Estate Non Owner Occupied [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 304,891 | 293,057 |
Commercial Real Estate Non Owner Occupied [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 884 | 2,143 |
Commercial Real Estate Non Owner Occupied [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,943 | 9,595 |
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 | 13 | 15 |
Agriculture Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 104,457 | 98,112 |
Agriculture Land [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 98,378 | 92,262 |
Agriculture Land [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,253 | 1,947 |
Agriculture Land [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 3,826 | 3,903 |
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 | 50,730 | 53,809 |
Commercial Real Estate Other Receivable [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 47,059 | 47,109 |
Commercial Real Estate Other Receivable [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 583 | 469 |
Commercial Real Estate Other Receivable [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,572 | 5,739 |
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 | 516 | 492 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 810,275 | 782,927 |
Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 765,391 | 730,284 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 21,551 | 22,455 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 22,188 | 28,967 |
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 | 1,145 | 1,221 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 82,208 | 96,845 |
Construction Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 60,945 | 76,152 |
Construction Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,293 | 2,159 |
Construction Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
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 | 18,970 | 18,534 |
Commercial Working Capital [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 170,432 | 169,108 |
Commercial Working Capital [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 160,656 | 163,071 |
Commercial Working Capital [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 7,392 | 2,497 |
Commercial Working Capital [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 2,384 | 3,540 |
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 | 243,826 | 251,542 |
Commercial Loans Other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 234,166 | 243,308 |
Commercial Loans Other [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 4,305 | 2,706 |
Commercial Loans Other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 5,355 | 5,528 |
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 | 414,258 | 420,650 |
Commercial Loan [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 394,822 | 406,379 |
Commercial Loan [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 11,697 | 5,203 |
Commercial Loan [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 7,739 | 9,068 |
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 | 117,381 | 117,468 |
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 | 738 | 689 |
Home Equity and Home Improvement [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Home Equity and Home Improvement [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 116,643 | 116,779 |
Consumer Finance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 15,672 | 16,270 |
Consumer Finance [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Consumer Finance [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Consumer Finance [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 14 | 15 |
Consumer Finance [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | 0 | 0 |
Consumer Finance [Member] | Not Graded [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Net | $ 15,658 | $ 16,255 |
Loans (Details Textual)
Loans (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses, Period Increase (Increase) | $ 15,000 | $ 64,000 | |
Loans and Leases Receivable, Consumer, Loans in Process | 359,000 | ||
Troubled Debt Restructuring [Member] | |||
Financing Receivable, Modifications, Recorded Investment | 17,500,000 | $ 17,600,000 | |
Specified Reserves, Provision for Troubled Debt Restructurings | 283,000 | 335,000 | |
Loans and Leases Receivable, Impaired, Commitment to Lend | 21,000 | $ 48,000 | |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 6,200,000 |
Mortgage Banking (Details)
Mortgage Banking (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||
Gain from sale of mortgage loans | $ 994 | $ 1,285 |
Mortgage loans servicing revenue (expense): | ||
Mortgage loans servicing revenue | 877 | 875 |
Amortization of mortgage servicing rights | (311) | (411) |
Mortgage servicing rights valuation adjustments | (21) | 26 |
Mortgage loans servicing revenue (expense), Total | 545 | 490 |
Net revenue from sale and servicing of mortgage loans | $ 1,539 | $ 1,775 |
Mortgage Banking (Details 1)
Mortgage Banking (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Mortgage servicing assets: | ||
Balance at beginning of period | $ 9,893 | $ 9,923 |
Loans sold, servicing retained | 297 | 320 |
Amortization | (311) | (411) |
Carrying value before valuation allowance at end of period | 9,879 | 9,832 |
Valuation allowance: | ||
Balance at beginning of period | (645) | (911) |
Impairment (expense) recovery | (21) | 26 |
Balance at end of period | (666) | (885) |
Net carrying value of MSRs at end of period | 9,213 | 8,947 |
Fair value of MSRs at end of period | $ 9,463 | $ 9,180 |
Mortgage Banking (Details Textu
Mortgage Banking (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | |||
Residential Mortgage Loans, Unpaid Balance | $ 1,340,000,000 | $ 1,340,000,000 | |
Accrual For Estimated Secondary Market Buy Back Losses | $ 59,000 | $ 58,000 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Deposits [Line Items] | ||
Non-interest-bearing checking accounts | $ 426,053 | $ 420,691 |
Interest-bearing checking and money market accounts | 783,016 | 767,201 |
Savings deposits | 233,546 | 219,655 |
Retail certificates of deposit less than $250,000 | 401,350 | 403,902 |
Retail certificates of deposit greater than $250,000 | 27,192 | 24,688 |
Total | $ 1,871,157 | $ 1,836,137 |
Borrowings (Details)
Borrowings (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
FHLB Advances: | ||
Single maturity fixed rate advances | $ 72,000 | $ 47,000 |
Putable advances | 5,000 | 5,000 |
Amortizable mortgage advances | 7,664 | 7,902 |
Total | 84,664 | 59,902 |
Junior subordinated debentures owed to unconsolidated subsidiary trusts | $ 36,083 | $ 36,083 |
Borrowings (Details 1)
Borrowings (Details 1) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Repurchase agreements: | ||
Total borrowings | $ 57,985 | $ 57,188 |
Gross amount of recognized liabilities for repurchase agreements | 57,985 | 57,188 |
Mortgage Backed Securities, Other [Member] | ||
Repurchase agreements: | ||
Total borrowings | 26,836 | 23,998 |
Collateralized Mortgage Backed Securities [Member] | ||
Repurchase agreements: | ||
Total borrowings | 31,149 | 33,190 |
Maturity Overnight [Member] | ||
Repurchase agreements: | ||
Total borrowings | 57,985 | 57,188 |
Maturity Overnight [Member] | Mortgage Backed Securities, Other [Member] | ||
Repurchase agreements: | ||
Total borrowings | 26,836 | 23,998 |
Maturity Overnight [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Repurchase agreements: | ||
Total borrowings | 31,149 | 33,190 |
Maturity Less than 30 Days [Member] | ||
Repurchase agreements: | ||
Total borrowings | 0 | 0 |
Maturity Less than 30 Days [Member] | Mortgage Backed Securities, Other [Member] | ||
Repurchase agreements: | ||
Total borrowings | 0 | 0 |
Maturity Less than 30 Days [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Repurchase agreements: | ||
Total borrowings | 0 | 0 |
Maturity 30 to 90 Days [Member] | ||
Repurchase agreements: | ||
Total borrowings | 0 | 0 |
Maturity 30 to 90 Days [Member] | Mortgage Backed Securities, Other [Member] | ||
Repurchase agreements: | ||
Total borrowings | 0 | 0 |
Maturity 30 to 90 Days [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Repurchase agreements: | ||
Total borrowings | 0 | 0 |
Maturity Greater than 90 Days [Member] | ||
Repurchase agreements: | ||
Total borrowings | 0 | 0 |
Maturity Greater than 90 Days [Member] | Mortgage Backed Securities, Other [Member] | ||
Repurchase agreements: | ||
Total borrowings | 0 | 0 |
Maturity Greater than 90 Days [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Repurchase agreements: | ||
Total borrowings | $ 0 | $ 0 |
Borrowings (Details Textual)
Borrowings (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2007 | Dec. 31, 2005 | Dec. 31, 2015 | |
Preferred Securities and Subordinated Debentures Maturity Date | Jun. 15, 2037 | |||
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 | 2.01% | 1.89% | ||
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 | 2.13% | 2.01% | ||
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 | Mar. 31, 2016 | Dec. 31, 2015 |
Fixed Rate, Commitments to make loans | $ 48,269 | $ 80,862 |
Fixed Rate, Unused lines of credit | 22,727 | 31,991 |
Fixed Rate, Standby letters of credit | 0 | 0 |
Fixed Rate, Total | 70,996 | 112,853 |
Variable Rate, Commitments to make loans | 98,503 | 76,253 |
Variable Rate, Unused lines of credit | 372,404 | 323,171 |
Variable Rate, Standby letters of credit | 19,033 | 19,632 |
Variable Rate, Total | $ 489,940 | $ 419,056 |
Commitments, Guarantees and C76
Commitments, Guarantees and Contingent Liabilities (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Line of Credit Facility, Period | 60 days | |
Commitments and Loans, Available to Sell | $ 31.3 | $ 19.9 |
Derivative Financial Instrume77
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Derivatives not designated as hedging instruments | ||
Mortgage Banking Derivatives Assets, Carrying Value | $ 856 | $ 558 |
Mortgage Banking Derivatives Liabilities, Carrying Value | (78) | 0 |
Mortgage Banking Derivatives, Net Carrying Value | $ 778 | $ 558 |
Derivative Financial Instrume78
Derivative Financial Instruments (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Derivatives not designated as hedging instruments | ||
Mortgage Banking Derivatives - Gain (Loss) | $ 220 | $ 438 |
Derivative Financial Instrume79
Derivative Financial Instruments (Details Textual) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net | $ 23 | $ 14.9 |
Notional Amount of Interest Rate Derivative Instruments Not Designated as Hedging Instruments | $ 31.3 | $ 19.9 |
Other Comprehensive Income (L80
Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Securities available for sale: Before Tax Amount | |||
Change in net unrealized gain/loss during the period | $ 1,450 | $ 1,502 | |
Reclassification adjustment for net gains included in net income | [1] | (131) | 0 |
Defined benefit postretirement medical plan: | |||
Total other comprehensive loss | 1,319 | 1,502 | |
Securities available for sale: Tax Expense (Benefit) | |||
Change in net unrealized gain/loss during the period | (508) | 527 | |
Reclassification adjustment for net gains included in net income | (46) | 0 | |
Total other comprehensive loss | (462) | 527 | |
Securities available for sale: Net of Tax Amount | |||
Change in net unrealized gain/loss during the period | 942 | 975 | |
Reclassification adjustment for net gains included in net income | (85) | 0 | |
Total other comprehensive loss | $ 857 | $ 975 | |
[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 March 31, 2016 and 2015 was $46 and $0, respectively. |
Other Comprehensive Income (L81
Other Comprehensive Income (Loss) (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Securities Available For Sale, Beginning balance | $ 4,042 | $ 4,697 |
Securities Available For Sale, Other comprehensive income before reclassifications | 942 | 975 |
Securities Available For Sale, Amounts reclassified from accumulated other comprehensive income | (85) | 0 |
Securities Available For Sale, Net other comprehensive income during period | 857 | 975 |
Securities Available For Sale, Ending balance | 4,899 | 5,672 |
Post-retirement Benefit, Beginning balance | (420) | (583) |
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 | (420) | (583) |
Accumulated Other Comprehensive Income, Beginning balance | 3,622 | 4,114 |
Accumulated Other Comprehensive Income, Other comprehensive income before reclassifications | 942 | 975 |
Accumulated Other Comprehensive Income, Amounts reclassified from accumulated other comprehensive income | (85) | 0 |
Accumulated Other Comprehensive Income, Net other comprehensive income during period | 857 | 975 |
Accumulated Other Comprehensive Income, Ending balance | $ 4,479 | $ 5,089 |
Affordable Housing Projects T82
Affordable Housing Projects Tax Credit Partnership (Details) - Unfunded Commitments [Member] $ in Thousands | Mar. 31, 2016USD ($) |
Schedule of Equity Method Investments [Line Items] | |
2,016 | $ 1,259 |
2,017 | 160 |
2,018 | 414 |
2,019 | 93 |
2,020 | 66 |
Thereafter | 247 |
Total Unfunded Commitments | $ 2,239 |
Affordable Housing Projects T83
Affordable Housing Projects Tax Credit Partnership (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Proportional Amortization Method | ||
Tax credits and other tax benefits recognized | $ 157 | $ 118 |
Amortization expense in federal income taxes | $ 119 | $ 89 |
Affordable Housing Projects T84
Affordable Housing Projects Tax Credit Partnership (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Other Assets [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Amortization Method Qualified Affordable Housing Project Investments | $ 4,200 | $ 4,300 |
Unfunded Commitments [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Qualified Affordable Housing Project Investments, Commitment | 2,239 | |
Unfunded Commitments [Member] | Other Liabilities [Member] | ||
Investments in Affordable Housing Projects [Abstract] | ||
Qualified Affordable Housing Project Investments, Commitment | $ 2,200 | $ 2,400 |