Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended |
Sep. 30, 2014 | |
Document Information [Line Items] | ' |
Document Type | '10-Q |
Amendment Flag | 'false |
Document Period End Date | 30-Sep-14 |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q3 |
Entity Registrant Name | 'FIRST BANCSHARES INC /MS/ |
Entity Central Index Key | '0000947559 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Non-accelerated Filer |
Trading Symbol | 'FBMS |
Entity Common Stock, Shares Outstanding | 5,311,876 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from banks | $33,111 | $24,080 |
Interest-bearing deposits with banks | 16,038 | 14,205 |
Federal funds sold | 1,298 | 967 |
Total cash and cash equivalents | 50,447 | 39,252 |
Securities held-to-maturity, at amortized cost | 8,411 | 8,438 |
Securities available-for-sale, at fair value | 262,651 | 244,051 |
Other securities | 5,592 | 5,534 |
Total securities | 276,654 | 258,023 |
Loans held for sale | 3,769 | 3,680 |
Loans | 667,533 | 579,623 |
Allowance for loan losses | -6,084 | -5,728 |
Loans, net | 665,218 | 577,575 |
Premises and equipment | 35,079 | 32,072 |
Interest receivable | 3,866 | 3,292 |
Cash surrender value of life insurance | 14,359 | 6,593 |
Goodwill | 12,029 | 10,621 |
Other assets | 9,343 | 8,992 |
Other real estate owned | 4,986 | 4,470 |
TOTAL ASSETS | 1,071,981 | 940,890 |
Deposits: | ' | ' |
Noninterest-bearing | 195,957 | 173,794 |
Interest-bearing | 711,558 | 606,177 |
TOTAL DEPOSITS | 907,515 | 779,971 |
Interest payable | 297 | 400 |
Borrowed funds | 49,456 | 52,000 |
Subordinated debentures | 10,310 | 10,310 |
Other liabilities | 10,811 | 13,101 |
TOTAL LIABILITIES | 978,389 | 855,782 |
STOCKHOLDERS' EQUITY: | ' | ' |
Preferred stock, no par value, $1,000 per share liquidation, 10,000,000 shares authorized; 17,123 issued and outstanding at September 30, 2014 and December 31, 2013, respectively | 17,123 | 17,103 |
Common stock, par value $1 per share, 10,000,000 shares authorized; 5,338,370 shares issued at September 30, 2014 and 5,122,941 at December 31, 2013 Respectively | 5,338 | 5,123 |
Additional paid-in capital | 44,262 | 42,086 |
Retained earnings | 26,219 | 22,509 |
Accumulated other comprehensive income (loss) | 1,114 | -1,249 |
Treasury stock, at cost, 26,494 shares at September 30, 2014 and at December 31, 2013 | -464 | -464 |
TOTAL STOCKHOLDERS' EQUITY | 93,592 | 85,108 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $1,071,981 | $940,890 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Preferred stock, no par value | $0 | $0 |
Preferred stock, per share liquidation | $1,000 | $1,000 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, issued | 17,123 | 17,123 |
Preferred stock, outstanding | 17,123 | 17,123 |
Common stock, par value | $1 | $1 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 5,338,370 | 5,122,941 |
Treasury stock, shares | 26,494 | 26,494 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
INTEREST INCOME: | ' | ' | ' | ' |
Interest and fees on loans | $8,059 | $7,216 | $22,154 | $18,765 |
Interest and dividends on securities: | ' | ' | ' | ' |
Taxable interest and dividends | 1,094 | 841 | 2,953 | 2,484 |
Tax exempt interest | 529 | 555 | 1,555 | 1,588 |
Interest on federal funds sold | 6 | 36 | 47 | 70 |
TOTAL INTEREST INCOME | 9,688 | 8,648 | 26,709 | 22,907 |
INTEREST EXPENSE: | ' | ' | ' | ' |
Interest on deposits | 689 | 540 | 1,739 | 1,824 |
Interest on borrowed funds | 144 | 150 | 443 | 448 |
TOTAL INTEREST EXPENSE | 833 | 690 | 2,182 | 2,272 |
NET INTEREST INCOME | 8,855 | 7,958 | 24,527 | 20,635 |
PROVISION FOR LOAN LOSSES | 631 | 360 | 1,266 | 1,020 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 8,224 | 7,598 | 23,261 | 19,615 |
OTHER INCOME: | ' | ' | ' | ' |
Service charges on deposit accounts | 1,280 | 1,077 | 3,317 | 2,931 |
Other service charges and fees | 741 | 515 | 2,431 | 2,481 |
TOTAL OTHER INCOME | 2,021 | 1,592 | 5,748 | 5,412 |
OTHER EXPENSES: | ' | ' | ' | ' |
Salaries and employee benefits | 4,554 | 4,010 | 12,911 | 10,922 |
Occupancy and equipment | 1,382 | 802 | 3,844 | 2,862 |
Other | 2,135 | 2,818 | 5,927 | 7,070 |
TOTAL OTHER EXPENSES | 8,071 | 7,630 | 22,682 | 20,854 |
INCOME BEFORE INCOME TAXES | 2,174 | 1,560 | 6,327 | 4,173 |
INCOME TAXES | 641 | 456 | 1,754 | 1,032 |
NET INCOME | 1,533 | 1,104 | 4,573 | 3,141 |
PREFERRED STOCK ACCRETION AND DIVIDENDS | 85 | 106 | 277 | 318 |
NET INCOME APPLICABLE TO COMMON STOCKHOLDERS | $1,448 | $998 | $4,296 | $2,823 |
NET INCOME APPLICABLE TO COMMON STOCKHOLDERS: | ' | ' | ' | ' |
BASIC | $0.27 | $0.20 | $0.83 | $0.70 |
DILUTED | $0.27 | $0.19 | $0.82 | $0.69 |
DIVIDENDS PER SHARE - COMMON | $0.04 | $0.04 | $0.11 | $0.11 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net income per consolidated statements of income | $1,533 | $1,104 | $4,573 | $3,141 |
Other comprehensive income: | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the period on available-for-sale securities | 574 | 226 | 3,467 | -5,844 |
Unrealized holding gains on loans held for sale | 18 | 153 | 119 | 50 |
Income tax benefit (expense) | -205 | -129 | -1,223 | 1,970 |
Other Comprehensive Income (Loss) | 387 | 250 | 2,363 | -3,824 |
Comprehensive Income (Loss) | $1,920 | $1,354 | $6,936 | ($683) |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $) | Total | Common Stock | Preferred Stock | Stock Warrants | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income(Loss) | Treasury Stock |
In Thousands | ||||||||
Balance at Jun. 30, 2013 | $65,886 | $3,134 | $17,021 | $284 | $23,427 | $19,951 | $2,533 | ($464) |
Net income | 1,104 | 0 | 0 | 0 | 0 | 3,141 | 0 | 0 |
Other comprehensive loss | -3,824 | 0 | 0 | 0 | 0 | 0 | -3,824 | 0 |
Accretion and dividends on preferred Stock | -257 | 0 | 61 | 0 | 0 | -318 | 0 | 0 |
Dividends on common stock, $0.1125 per share | -427 | 0 | 0 | 0 | 0 | -427 | 0 | 0 |
Issuance of common shares | 18,958 | 1,951 | 0 | 0 | 18,049 | -1,042 | 0 | 0 |
Restricted stock grant | 0 | 49 | 0 | 0 | -49 | 0 | 0 | 0 |
Compensation expense | 283 | 0 | 0 | 0 | 283 | 0 | 0 | 0 |
Balance at Sep. 30, 2013 | 83,760 | 5,134 | 17,082 | 284 | 41,710 | 21,305 | -1,291 | -464 |
Balance at Dec. 31, 2013 | 85,108 | 5,123 | 17,103 | 284 | 41,802 | 22,509 | -1,249 | -464 |
Net income | 4,573 | 0 | 0 | 0 | 0 | 4,573 | 0 | 0 |
Other comprehensive loss | 2,363 | 0 | 0 | 0 | 0 | 0 | 2,363 | 0 |
Accretion and dividends on preferred Stock | -257 | 0 | 20 | 0 | 0 | -277 | 0 | 0 |
Dividends on common stock, $0.1125 per share | -586 | 0 | 0 | 0 | 0 | -586 | 0 | 0 |
Issuance of common shares | 2,022 | 158 | 0 | 0 | 1,864 | 0 | 0 | 0 |
Repurchase of restricted stock for payment of taxes | -86 | -6 | 0 | 0 | -80 | 0 | 0 | 0 |
Restricted stock grant | 0 | 63 | 0 | 0 | -63 | 0 | 0 | 0 |
Compensation expense | 455 | 0 | 0 | 0 | 455 | 0 | 0 | 0 |
Balance at Sep. 30, 2014 | $93,592 | $5,338 | $17,123 | $284 | $43,978 | $26,219 | $1,114 | ($464) |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Dividends on common stock, per Share | $0.04 | $0.04 | $0.11 | $0.11 |
Issuance of common shares | ' | ' | 158,083 | 1,951,220 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
NET INCOME | $4,573 | $3,141 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation, amortization and accretion | 1,697 | 1,316 |
Provision for loan losses | 1,266 | 1,020 |
Loss on sale/writedown of ORE | 299 | 280 |
Gain on sale of securities | -241 | 0 |
Gain on sale of land | -111 | 0 |
Restricted stock expense | 455 | 283 |
Increase in cash value of life insurance | -266 | -107 |
Federal Home Loan Bank stock dividends | -2 | -5 |
Changes in: | ' | ' |
Interest receivable | -359 | -140 |
Loans held for sale, net | 30 | 4,962 |
Interest payable | -128 | -140 |
Other, net | 1,203 | 5,670 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 8,416 | 16,280 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Sale of securities | 10,942 | 0 |
Cash received in excess of cash paid for acquisition | 4,270 | 43,150 |
Maturities and calls of securities available- for-sale | 30,485 | 44,637 |
Purchases of securities available-for-sale and held-to-maturity | -38,460 | -83,416 |
Net redemptions (purchases) of other securities | 365 | -1,084 |
Net increase in loans | -49,102 | -41,390 |
Purchase of bank owned life insurance | -7,500 | 0 |
Net increase in premises and equipment | -391 | -658 |
NET CASH USED IN INVESTING ACTIVITIES | -49,391 | -38,761 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Increase in deposits | 68,539 | 31,851 |
Net decrease in borrowed funds | -15,648 | -6,771 |
Dividends paid on common stock | -570 | -413 |
Dividends paid on preferred stock | -237 | -257 |
Repurchase of restricted stock for payment of taxes | 86 | 0 |
Issuance of 1,951,220 common shares, net | 0 | 18,958 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 52,170 | 43,368 |
NET INCREASE IN CASH | 11,195 | 20,887 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 39,252 | 30,877 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 50,447 | 51,764 |
SUPPLEMENTAL DISCLOSURES: | ' | ' |
CASH PAYMENTS FOR INTEREST | 2,601 | 2,071 |
CASH PAYMENTS FOR INCOME TAXES | 275 | 980 |
LOANS TRANSFERRED TO OTHER REAL ESTATE | 1,972 | 1,875 |
ISSUANCE OF RESTRICTED STOCK GRANTS | $63 | $49 |
CONSOLIDATED_STATEMENTS_OF_CAS1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Issuance of common stock | 158,083 | 1,951,220 |
BASIS_OF_PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
BASIS OF PRESENTATION | ' |
NOTE A — BASIS OF PRESENTATION | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial statements and with the instructions to Form 10-Q of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2014, are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. For further information, please refer to the consolidated financial statements and footnotes thereto included in the Company's Form 10-K for the year ended December 31, 2013. | |
SUMMARY_OF_ORGANIZATION
SUMMARY OF ORGANIZATION | 9 Months Ended |
Sep. 30, 2014 | |
Summary Of Organization [Abstract] | ' |
SUMMARY OF ORGANIZATION | ' |
NOTE B — SUMMARY OF ORGANIZATION | |
The First Bancshares, Inc., Hattiesburg, Mississippi (the "Company"), was | |
incorporated June 23, 1995, under the laws of the State of Mississippi for | |
the purpose of operating as a bank holding company. The Company’s primary asset is its interest in its wholly-owned subsidiary, The First, A National Banking Association (the “Bank”). | |
At September 30, 2014, the Company had approximately $1.1 billion in assets, $665.2 million in net loans, $907.5 million in deposits, and $93.6 million in stockholders' equity. For the nine months ended September 30, 2014, the Company reported net income of $4.6 million ($4.3 million applicable to common stockholders). | |
In the first, second and third quarters of 2014, the Company declared and paid a dividend of $.0375 per common share per quarter. | |
BUSINESS_COMBINATION
BUSINESS COMBINATION | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Business Combination, Description [Abstract] | ' | ||||
BUSINESS COMBINATION | ' | ||||
NOTE C – BUSINESS COMBINATION | |||||
BCB Holding Company, Inc. | |||||
On March 3, 2014, the Company entered into an Agreement and Plan of Merger (the “Agreement”) with BCB Holding Company, Inc., an Alabama corporation (“BCB”) and parent of Bay Bank, Mobile, Alabama. The Agreement provides that, upon the terms and subject to the conditions set forth in the Agreement, BCB will merge with and into the Company (the “Merger”) and Bay Bank will merge with and into The First, A National Banking Association (“Bank Merger”). Subject to the terms and conditions of the Agreement, which has been approved by the Boards of Directors of the Company and BCB, each outstanding share of BCB common stock, other than shares held by the Company or BCB, or, shares with respect to which the holders thereof have perfected dissenters’ rights, will receive (i) for the BCB common stock that was outstanding prior to August 1, 2013, $3.60 per share which may be received in cash or the Company common stock provided that at least 30% of the aggregate consideration paid to such shareholders is in the Company common stock and one non-transferable contingent value right (“CVR”) of the CVR Consideration, and (ii) for the BCB common stock that was issued on August 1, 2013, $2.25 per share in cash. Each CVR is eligible to receive a cash payment equal to up to $0.40, with the exact amount based on the resolution of certain identified BCB loans over a three-year period following the closing of the transaction. Payout of the CVR will be overseen by a special committee of the Company’s Board of Directors. The Company redeemed in full a note payable by BCB to Alostar Bank, as well as the preferred stock issued under the U.S. Treasury’s Capital Purchase Program. The total consideration to be paid in connection with the acquisition will range between approximately $6.2 million and $6.6 million depending upon the payout of the CVR, as well as the price of the Company common stock on the closing of the transaction, which is subject to a cap and a collar regarding its price. | |||||
As of the closing on July 1, 2014, the Company and BCB entered into an agreement and plan of merger pursuant to which BCB’s wholly-owned subsidiary, Bay Bank, was merged with and into the Company’s wholly-owned subsidiary, the Bank. | |||||
In connection with the acquisition, the Company recorded $1.4 million of goodwill and $.2 million of core deposit intangible. The core deposit intangible will be expensed over 10 years. | |||||
The Company acquired the $40.1 million loan portfolio at a fair value discount of $1.7 million. The discount represents expected credit losses, adjusted to market interest rates and liquidity adjustments. | |||||
The amounts of the acquired identifiable assets and liabilities as of the acquisition date were as follows(dollars in thousands): | |||||
Purchase price: | |||||
Cash and fair value of common stock | $ | 6,300 | |||
Total purchase price | 6,300 | ||||
Identifiable assets: | |||||
Cash and due from banks | 8,307 | ||||
Investments | 23,423 | ||||
Loans and leases | 38,393 | ||||
Other Real Estate | 644 | ||||
Core deposit intangible | 225 | ||||
Personal and real property | 3,670 | ||||
Deferred tax asset | 2,502 | ||||
Other assets | 305 | ||||
Total assets | 77,469 | ||||
Liabilities and equity: | |||||
Deposits | 59,321 | ||||
Borrowed funds | 13,104 | ||||
Other liabilities | 152 | ||||
Total liabilities | 72,577 | ||||
Net assets acquired | 4,892 | ||||
Goodwill resulting from acquisition | $ | 1,408 | |||
The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at September 30, 2014, are as follows (dollars in thousands): | |||||
Outstanding principal balance | $ | 39,085 | |||
Carrying amount | 37,508 | ||||
PREFERRED_STOCK_AND_WARRANT
PREFERRED STOCK AND WARRANT | 9 Months Ended |
Sep. 30, 2014 | |
Preferred Stock And Warrant [Abstract] | ' |
PREFERRED STOCK AND WARRANT | ' |
NOTE D – PREFERRED STOCK AND WARRANT | |
Pursuant to the terms of the letter agreement between the Company and the United States Department of the Treasury (“Treasury”), the Company issued 17,123 CDCI Preferred Shares. | |
The Letter Agreement contains limitations on the payment of dividends on the common stock to no more than 100% of the aggregate per share dividend and distributions for the immediate prior fiscal year (dividends of $0.15 per share were declared and paid in 2011, 2012, and 2013) and on the Company’s ability to repurchase its common stock, and continues to subject the Company to certain of the executive compensation limitations included in the Emergency Economic Stabilization Act of 2008 (EESA), as previously disclosed by the Company. The CDCI Preferred Shares entitle the holder to an annual dividend of 2% for 8 years of the liquidation value of the shares, payable quarterly in arrears. | |
EARNINGS_APPLICABLE_TO_COMMON_
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS | ' | ||||||||||
NOTE E — EARNINGS APPLICABLE TO COMMON STOCKHOLDERS | |||||||||||
Basic per share data is calculated based on the weighted-average number of common shares outstanding during the reporting period. Diluted per share data includes any dilution from potential common stock outstanding, such as stock options. | |||||||||||
For the Three Months Ended | |||||||||||
September 30, 2014 | |||||||||||
Net Income | Shares | Per | |||||||||
(Numerator) | (Denominator) | Share Data | |||||||||
Basic per share | $ | 1,448,000 | 5,311,876 | $ | 0.27 | ||||||
Effect of dilutive shares: | |||||||||||
Restricted stock grants | 37,810 | ||||||||||
Diluted per share | $ | 1,448,000 | 5,349,686 | $ | 0.27 | ||||||
For the Nine Months Ended | |||||||||||
September 30, 2014 | |||||||||||
Net Income | Shares | Per | |||||||||
(Numerator) | (Denominator) | Share Data | |||||||||
Basic per share | $ | 4,296,000 | 5,198,776 | $ | 0.83 | ||||||
Effect of dilutive shares: | |||||||||||
Restricted stock grants | 37,810 | ||||||||||
Diluted per share | $ | 4,296,000 | 5,236,586 | $ | 0.82 | ||||||
For the Three Months Ended | |||||||||||
September 30, 2013 | |||||||||||
Net Income | Shares | Per | |||||||||
(Numerator) | (Denominator) | Share Data | |||||||||
Basic per share | $ | 998,000 | 5,102,572 | $ | 0.2 | ||||||
Effect of dilutive shares: | |||||||||||
Restricted stock grants | 47,945 | ||||||||||
Diluted per share | $ | 998,000 | 5,150,517 | $ | 0.19 | ||||||
For the Nine Months Ended | |||||||||||
September 30, 2013 | |||||||||||
Net Income | Shares | Per | |||||||||
(Numerator) | (Denominator) | Share Data | |||||||||
Basic per share | $ | 2,823,000 | 4,058,432 | $ | 0.7 | ||||||
Effect of dilutive shares: | |||||||||||
Restricted stock grants | 47,945 | ||||||||||
Diluted per share | $ | 2,823,000 | 4,106,377 | $ | 0.69 | ||||||
The Company granted 6,000 shares of restricted stock in the second quarter of 2014, and 57,327 shares of restricted stock in the first quarter of 2014. | |||||||||||
FAIR_VALUE_OF_ASSETS_AND_LIABI
FAIR VALUE OF ASSETS AND LIABILITIES | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
FAIR VALUE OF ASSETS AND LIABILITIES | ' | ||||||||||||||||
NOTE F — FAIR VALUE OF ASSETS AND LIABILITIES | |||||||||||||||||
The Company groups its financial assets measured at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are: | |||||||||||||||||
Level 1: | Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. | ||||||||||||||||
Level 2: | Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets or liabilities which use observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets and liabilities | ||||||||||||||||
Level 3: | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||||||||||||||||
Following is a description of the valuation methodologies used for instruments measured at fair value on a recurring basis and recognized in the accompanying balance sheets. | |||||||||||||||||
Available-for-Sale Securities | |||||||||||||||||
The fair value of available-for-sale securities is determined by various valuation methodologies. Where quoted market prices are available in an active market, securities are classified within Level 1. If quoted market prices are not available, then fair values are estimated by using pricing models or quoted prices of securities with similar characteristics. Level 2 securities include U.S. Treasury securities, obligations of U.S. government corporations and agencies, obligations of states and political subdivisions, mortgage-backed securities and collateralized mortgage obligations. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. | |||||||||||||||||
The following table presents the Company’s assets that are measured at fair value on a recurring basis and the level within the hierarchy in which the fair value measurements fell as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||
30-Sep-14 | |||||||||||||||||
(Dollars in thousands) | Fair Value Measurements Using | ||||||||||||||||
Quoted Prices | |||||||||||||||||
in | |||||||||||||||||
Active | |||||||||||||||||
Markets | Significant | ||||||||||||||||
For | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Obligations of U. S. Government Agencies | $ | 29,837 | $ | - | $ | 29,837 | $ | - | |||||||||
Municipal securities | 107,131 | - | 107,131 | - | |||||||||||||
Mortgage-backed securities | 95,716 | - | 95,716 | - | |||||||||||||
Corporate obligations | 29,000 | - | 26,193 | 2,807 | |||||||||||||
Other | 967 | 967 | - | - | |||||||||||||
Total | $ | 262,651 | $ | 967 | $ | 258,877 | $ | 2,807 | |||||||||
31-Dec-13 | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in | |||||||||||||||||
Active | |||||||||||||||||
Markets | Significant | ||||||||||||||||
For | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Obligations of U. S. Government Agencies | $ | 29,962 | $ | - | $ | 29,962 | $ | - | |||||||||
Municipal securities | 108,078 | - | 108,078 | - | |||||||||||||
Mortgage-backed securities | 78,187 | - | 78,187 | - | |||||||||||||
Corporate obligations | 26,852 | - | 24,054 | 2,798 | |||||||||||||
Other | 972 | 972 | - | - | |||||||||||||
Total | $ | 244,051 | $ | 972 | $ | 240,281 | $ | 2,798 | |||||||||
The following is a reconciliation of activity for assets measured at fair value based on significant unobservable (non-market) information. | |||||||||||||||||
Bank-Issued | |||||||||||||||||
Trust | |||||||||||||||||
Preferred | |||||||||||||||||
(Dollars in thousands) | Securities | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Balance, January 1 | $ | 2,798 | $ | 2,668 | |||||||||||||
Transfers into Level 3 | - | ||||||||||||||||
Transfers out of Level 3 | - | ||||||||||||||||
Other-than-temporary impairment loss included in earnings | - | ||||||||||||||||
Unrealized gain included in comprehensive income | 9 | 130 | |||||||||||||||
Balance at September 30, 2014 and December 31, 2013 | $ | 2,807 | $ | 2,798 | |||||||||||||
The following table presents quantitative information about recurring Level 3 fair value measurements (in thousands): | |||||||||||||||||
Significant | |||||||||||||||||
Trust Preferred | Fair | Valuation | Unobservable | Range of | |||||||||||||
Securities | Value | Technique | Inputs | Inputs | |||||||||||||
30-Sep-14 | 2,807 | Discounted cash flow | Probability of default | 0 – 100% | |||||||||||||
31-Dec-13 | 2,798 | Discounted cash flow | Probability of default | 0 – 100% | |||||||||||||
Following is a description of the valuation methodologies used for assets measured at fair value on a non-recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. | |||||||||||||||||
Impaired Loans | |||||||||||||||||
Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured for impairment. Allowable methods for estimating fair value include using the fair value of the collateral for collateral dependent loans or, where a loan is determined not to be collateral dependent, using the discounted cash flow method. | |||||||||||||||||
If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. If the impaired loan is determined not to be collateral dependent, then the discounted cash flow method is used. This method requires the impaired loan to be recorded at the present value of expected future cash flows discounted at the loan’s effective interest rate. The effective interest rate of a loan is the contractual interest rate adjusted for any net deferred loan fees or costs, or premium or discount existing at origination or acquisition of the loan. Impaired loans are classified within Level 2 of the fair value hierarchy. | |||||||||||||||||
Other Real Estate Owned | |||||||||||||||||
Other real estate owned acquired through loan foreclosure is initially recorded at fair value less estimated costs to sell, establishing a new cost basis. The adjustment at the time of foreclosure is recorded through the allowance for loan losses. Due to the subjective nature of establishing the fair value, the actual fair value of the other real estate owned or foreclosed asset could differ from the original estimate. If it is determined the fair value declines subsequent to foreclosure, a valuation allowance is recorded through non-interest expense. Operating costs associated with the assets are also recorded as non-interest expense. Gains and losses on the disposition of other real estate owned and foreclosed assets are netted and posted to other non-interest expense. Other real estate owned measured at fair value on a non-recurring basis at September 30, 2014, amounted to $5.0 million. Other real estate owned is classified within Level 2 of the fair value hierarchy. | |||||||||||||||||
The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fell at September 30, 2014 and December 31, 2013. | |||||||||||||||||
($ in thousands) | |||||||||||||||||
30-Sep-14 | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Quoted | |||||||||||||||||
Prices in | |||||||||||||||||
Active | |||||||||||||||||
Markets | Significant | ||||||||||||||||
For | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Impaired loans | $ | 8,736 | $ | - | $ | 8,736 | $ | - | |||||||||
Other real estate owned | 4,986 | - | 4,986 | - | |||||||||||||
31-Dec-13 | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Quoted | |||||||||||||||||
Prices in | |||||||||||||||||
Active | |||||||||||||||||
Markets | Significant | ||||||||||||||||
For | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Impaired loans | $ | 4,830 | $ | - | $ | 4,830 | $ | - | |||||||||
Other real estate owned | 4,470 | - | 4,470 | - | |||||||||||||
The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value: | |||||||||||||||||
Cash and Cash Equivalents – For such short-term instruments, the carrying amount is a reasonable estimate of fair value. | |||||||||||||||||
Investment in securities available-for-sale and held-to-maturity – The fair value measurement for securities available-for-sale was discussed earlier. The same measurement approach was used for securities held-to-maturity. | |||||||||||||||||
Loans – The fair value of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. | |||||||||||||||||
Bank-Owned Life Insurance– The fair value of bank-owned life insurance approximates the carrying amount, because upon liquidation of these investments, the Company would receive the cash surrender value which equals the carrying amount. | |||||||||||||||||
Deposits – The fair values of demand deposits are, as required by ASC Topic 825, equal to the carrying value of such deposits. Demand deposits include noninterest-bearing demand deposits, savings accounts, NOW accounts, and money market demand accounts. The fair value of variable rate term deposits, those repricing within six months or less, approximates the carrying value of these deposits. Discounted cash flows have been used to value fixed rate term deposits and variable rate term deposits repricing after six months. The discount rate used is based on interest rates currently being offered on comparable deposits as to amount and term. | |||||||||||||||||
Short-Term Borrowings – The carrying value of any federal funds purchased and other short-term borrowings approximates their fair values. | |||||||||||||||||
FHLB and Other Borrowings – The fair value of the fixed rate borrowings are estimated using discounted cash flows, based on current incremental borrowing rates for similar types of borrowing arrangements. The carrying amount of any variable rate borrowing approximates its fair value. | |||||||||||||||||
Subordinated Debentures – The subordinated debentures bear interest at a variable rate and the carrying value approximates the fair value. | |||||||||||||||||
Off-Balance Sheet Instruments – Fair values of off-balance sheet financial instruments are based on fees charged to enter into similar agreements. However, commitments to extend credit do not represent a significant value until such commitments are funded or closed. Management has determined that these instruments do not have a distinguishable fair value and no fair value has been assigned. | |||||||||||||||||
As of September 30, 2014 | Fair Value Measurements | ||||||||||||||||
Significant | |||||||||||||||||
Other | Significant | ||||||||||||||||
Estimated | Quoted | Observable | Unobservable | ||||||||||||||
Carrying | Fair | Prices | Inputs | Inputs | |||||||||||||
Amount | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Financial Instruments: | |||||||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 50,447 | $ | 50,447 | $ | 50,447 | $ | - | $ | - | |||||||
Securities available-for- sale | 262,651 | 262,651 | 967 | 258,877 | 2,807 | ||||||||||||
Securities held-to-maturity | 8,411 | 9,965 | - | 9,965 | - | ||||||||||||
Other securities | 5,592 | 5,592 | - | 5,592 | - | ||||||||||||
Loans, net | 665,218 | 680,603 | - | - | 680,603 | ||||||||||||
Bank-owned life insurance | 14,359 | 14,359 | - | 14,359 | - | ||||||||||||
Liabilities: | |||||||||||||||||
Noninterest-bearing deposits | $ | 195,957 | $ | 195,957 | $ | - | $ | 195,957 | $ | - | |||||||
Interest-bearing deposits | 711,558 | 711,192 | - | 711,192 | - | ||||||||||||
Subordinated debentures | 10,310 | 10,310 | - | - | 10,310 | ||||||||||||
FHLB and other borrowings | 49,456 | 49,456 | - | 49,456 | - | ||||||||||||
As of December 31, 2013 | Fair Value Measurements | ||||||||||||||||
Significant | |||||||||||||||||
Other | Significant | ||||||||||||||||
Estimated | Quoted | Observable | Unobservable | ||||||||||||||
Carrying | Fair | Prices | Inputs | Inputs | |||||||||||||
Amount | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Financial Instruments: | |||||||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 39,252 | $ | 39,252 | $ | 39,252 | $ | - | $ | - | |||||||
Securities available-for- sale | 244,051 | 244,051 | 972 | 240,281 | 2,798 | ||||||||||||
Securities held-to-maturity | 8,438 | 9,624 | - | 9,624 | - | ||||||||||||
Other securities | 5,534 | 5,534 | - | 5,534 | - | ||||||||||||
Loans, net | 577,575 | 590,866 | - | - | 590,866 | ||||||||||||
Bank-owned life insurance | 6,593 | 6,593 | - | 6,593 | - | ||||||||||||
Liabilities: | |||||||||||||||||
Noninterest-bearing deposits | $ | 173,794 | $ | 173,794 | $ | - | $ | 173,794 | $ | - | |||||||
Interest-bearing deposits | 606,177 | 605,737 | - | 605,737 | - | ||||||||||||
Subordinated debentures | 10,310 | 10,310 | - | - | 10,310 | ||||||||||||
FHLB and other borrowings | 52,000 | 52,000 | - | 52,000 | - | ||||||||||||
LOANS
LOANS | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Loans Receivable, Net [Abstract] | ' | ||||||||||||||||
LOANS | ' | ||||||||||||||||
NOTE G — LOANS | |||||||||||||||||
Loans typically provide higher yields than the other types of earning assets, and, thus, one of the Company's goals is for loans to be the largest category of the Company's earning assets. At September 30, 2014 and December 31, 2013, average loans accounted for 68.2% and 67.1% of average earning assets, respectively. The Company controls and mitigates the inherent credit and liquidity risks through the composition of its loan portfolio. | |||||||||||||||||
The following table shows the composition of the loan portfolio by category: | |||||||||||||||||
Composition of Loan Portfolio | |||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||
Percent | Percent | ||||||||||||||||
of | of | ||||||||||||||||
Amount | Total | Amount | Total | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Mortgage loans held for sale | $ | 3,769 | 0.6 | % | $ | 3,680 | 0.6 | % | |||||||||
Commercial, financial and agricultural | 100,263 | 14.9 | 81,792 | 14 | |||||||||||||
Real Estate: | |||||||||||||||||
Mortgage-commercial | 217,684 | 32.4 | 202,343 | 34.7 | |||||||||||||
Mortgage-residential | 248,125 | 37 | 212,388 | 36.4 | |||||||||||||
Construction | 83,908 | 12.5 | 67,287 | 11.5 | |||||||||||||
Consumer and other | 17,553 | 2.6 | 15,813 | 2.8 | |||||||||||||
Total loans | 671,302 | 100 | % | 583,303 | 100 | % | |||||||||||
Allowance for loan losses | -6,084 | -5,728 | |||||||||||||||
Net loans | $ | 665,218 | $ | 577,575 | |||||||||||||
In the context of this discussion, a "real estate mortgage loan" is defined as elements of its loan portfolio through strategies that diversify the lending mix. | |||||||||||||||||
Loans held for sale consist of mortgage loans originated by the Bank and sold into the secondary market. Commitments from investors to purchase the loans are obtained upon origination. | |||||||||||||||||
Activity in the allowance for loan losses for the period was as follows: | |||||||||||||||||
(In thousands) | |||||||||||||||||
Three Months | Nine Months | ||||||||||||||||
Ended | Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
Balance at beginning of period | $ | 5,999 | $ | 5,728 | |||||||||||||
Loans charged-off: | |||||||||||||||||
Real Estate | -307 | -1,056 | |||||||||||||||
Installment and Other | -67 | -126 | |||||||||||||||
Commercial, Financial and Agriculture | -52 | -52 | |||||||||||||||
Total | -426 | -1,234 | |||||||||||||||
Recoveries on loans previously charged-off: | |||||||||||||||||
Real Estate | -146 | 254 | |||||||||||||||
Installment and Other | 22 | 58 | |||||||||||||||
Commercial, Financial and Agriculture | 4 | 12 | |||||||||||||||
Total | -120 | 324 | |||||||||||||||
Net charge-offs | -546 | -910 | |||||||||||||||
Provision for Loan Losses | 631 | 1,266 | |||||||||||||||
Balance at end of period | $ | 6,084 | $ | 6,084 | |||||||||||||
The following tables represent how the allowance for loan losses is allocated to a particular loan type, as well as the percentage of the category to total loans at September 30, 2014 and December 31, 2013. | |||||||||||||||||
Allocation of the Allowance for Loan Losses | |||||||||||||||||
September 30, 2014 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
% of loans | |||||||||||||||||
in each category | |||||||||||||||||
Amount | to total loans | ||||||||||||||||
Commercial Non Real Estate | $ | 687 | 15.3 | % | |||||||||||||
Commercial Real Estate | 3,647 | 57.7 | |||||||||||||||
Consumer Real Estate | 1,554 | 24.8 | |||||||||||||||
Consumer | 173 | 2.2 | |||||||||||||||
Unallocated | 23 | - | |||||||||||||||
Total | $ | 6,084 | 100 | % | |||||||||||||
December 31, 2013 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
% of loans | |||||||||||||||||
in each category | |||||||||||||||||
Amount | to total loans | ||||||||||||||||
Commercial Non Real Estate | $ | 582 | 14 | % | |||||||||||||
Commercial Real Estate | 3,384 | 57.2 | |||||||||||||||
Consumer Real Estate | 1,427 | 25.4 | |||||||||||||||
Consumer | 173 | 3.4 | |||||||||||||||
Unallocated | 162 | - | |||||||||||||||
Total | $ | 5,728 | 100 | % | |||||||||||||
The following table represents the Company’s impaired loans at September 30, 2014, and December 31, 2013. | |||||||||||||||||
Sept. 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
(In thousands) | |||||||||||||||||
Impaired Loans: | |||||||||||||||||
Impaired loans without a valuation allowance | $ | 4,504 | $ | 701 | |||||||||||||
Impaired loans with a valuation allowance | 4,162 | 4,001 | |||||||||||||||
Total impaired loans | $ | 8,666 | $ | 4,702 | |||||||||||||
Allowance for loan losses on impaired loans at period end | 818 | 849 | |||||||||||||||
Total nonaccrual loans | 6,032 | 3,181 | |||||||||||||||
Past due 90 days or more and still accruing | 102 | 159 | |||||||||||||||
Average investment in impaired loans | 6,458 | 4,007 | |||||||||||||||
The following table is a summary of interest recognized and cash-basis interest earned on impaired loans: | |||||||||||||||||
Three Months | Nine Months | ||||||||||||||||
Ended | Ended | ||||||||||||||||
Sept. 30, 2014 | Sept. 30, 2014 | ||||||||||||||||
Average of individually impaired loans during period | $ | 8,429 | $ | 6,458 | |||||||||||||
Interest income recognized during impairment | 38 | 129 | |||||||||||||||
Cash-basis interest income recognized | 38 | 219 | |||||||||||||||
The gross interest income that would have been recorded in the period that ended if the nonaccrual loans had been current in accordance with their original terms and had been outstanding throughout the period or since origination, if held for part of the three months and nine months ended September 30, 2014, was $1,000 and $98,000, respectively. The Company had no loan commitments to borrowers in non-accrual status at September 30, 2014 and December 31, 2013. | |||||||||||||||||
The following tables provide the ending balances in the Company's loans (excluding mortgage loans held for sale) and allowance for loan losses, broken down by portfolio segment as of September 30, 2014 and December 31, 2013. The tables also provide additional detail as to the amount of our loans and allowance that correspond to individual versus collective impairment evaluation. The impairment evaluation corresponds to the Company's systematic methodology for estimating its Allowance for Loan Losses. | |||||||||||||||||
30-Sep-14 | |||||||||||||||||
Commercial, | |||||||||||||||||
Installment | Financial | ||||||||||||||||
Real | and | and | |||||||||||||||
Estate | Other | Agriculture | Total | ||||||||||||||
(In thousands) | |||||||||||||||||
Loans | |||||||||||||||||
Individually evaluated | $ | 8,370 | $ | 50 | $ | 246 | $ | 8,666 | |||||||||
Collectively evaluated | 542,071 | 14,728 | 102,068 | 658,867 | |||||||||||||
Total | $ | 550,441 | $ | 14,778 | $ | 102,314 | $ | 667,533 | |||||||||
Allowance for Loan Losses | |||||||||||||||||
Individually evaluated | $ | 771 | $ | 30 | $ | 17 | $ | 818 | |||||||||
Collectively evaluated | 4,430 | 166 | 670 | 5,266 | |||||||||||||
Total | $ | 5,201 | $ | 196 | $ | 687 | $ | 6,084 | |||||||||
31-Dec-13 | |||||||||||||||||
Commercial, | |||||||||||||||||
Installment | Financial | ||||||||||||||||
Real | and | and | |||||||||||||||
Estate | Other | Agriculture | Total | ||||||||||||||
(In thousands) | |||||||||||||||||
Loans | |||||||||||||||||
Individually evaluated | $ | 4,709 | $ | 39 | $ | 82 | $ | 4,830 | |||||||||
Collectively evaluated | 473,832 | 19,725 | 81,236 | 574,793 | |||||||||||||
Total | $ | 478,541 | $ | 19,764 | $ | 81,318 | $ | 579,623 | |||||||||
Allowance for Loan Losses | |||||||||||||||||
Individually evaluated | $ | 804 | $ | 35 | $ | 10 | $ | 849 | |||||||||
Collectively evaluated | 4,007 | 300 | 572 | 4,879 | |||||||||||||
Total | $ | 4,811 | $ | 335 | $ | 582 | $ | 5,728 | |||||||||
The following tables provide additional detail of impaired loans broken out according to class as of September 30, 2014 and December 31, 2013. The recorded investment included in the following table represents customer balances net of any partial charge-offs recognized on the loans, net of any deferred fees and costs. As nearly all of our impaired loans at September 30, 2014, are on nonaccrual status, recorded investment excludes any insignificant amount of accrued interest receivable on loans 90-days or more past due and still accruing. The unpaid balance represents the recorded balance prior to any partial charge-offs. | |||||||||||||||||
September 30, 2014 | |||||||||||||||||
Average | Interest | ||||||||||||||||
Recorded | Income | ||||||||||||||||
Recorded | Unpaid | Related | Investment | Recognized | |||||||||||||
Investment | Balance | Allowance | YTD | YTD | |||||||||||||
(In thousands) | |||||||||||||||||
Impaired loans with no related allowance: | |||||||||||||||||
Commercial installment | $ | 3 | $ | 3 | $ | - | $ | 63 | $ | - | |||||||
Commercial real estate | 4,264 | 4,264 | - | 2,152 | 95 | ||||||||||||
Consumer real estate | 216 | 216 | - | 217 | 3 | ||||||||||||
Consumer installment | 21 | 21 | - | 11 | 1 | ||||||||||||
Total | $ | 4,504 | $ | 4,504 | $ | - | $ | 2,443 | $ | 99 | |||||||
Impaired loans with a related allowance: | |||||||||||||||||
Commercial installment | $ | 243 | $ | 243 | $ | 17 | $ | 177 | $ | 16 | |||||||
Commercial real estate | 2,570 | 2,640 | 451 | 2,379 | 91 | ||||||||||||
Consumer real estate | 1,320 | 1,320 | 320 | 1,425 | 11 | ||||||||||||
Consumer installment | 29 | 29 | 30 | 34 | 2 | ||||||||||||
Total | $ | 4,162 | $ | 4,232 | $ | 818 | $ | 4,015 | $ | 120 | |||||||
Total Impaired Loans: | |||||||||||||||||
Commercial installment | $ | 246 | $ | 246 | $ | 17 | $ | 240 | $ | 16 | |||||||
Commercial real estate | 6,834 | 6,904 | 451 | 4,531 | 186 | ||||||||||||
Consumer real estate | 1,536 | 1,536 | 320 | 1,642 | 14 | ||||||||||||
Consumer installment | 50 | 50 | 30 | 45 | 3 | ||||||||||||
Total Impaired Loans | $ | 8,666 | $ | 8,736 | $ | 818 | $ | 6,458 | $ | 219 | |||||||
31-Dec-13 | |||||||||||||||||
Average | Interest | ||||||||||||||||
Recorded | Income | ||||||||||||||||
Recorded | Unpaid | Related | Investment | Recognized | |||||||||||||
Investment | Balance | Allowance | YTD | YTD | |||||||||||||
(In thousands) | |||||||||||||||||
Impaired loans with no related allowance: | |||||||||||||||||
Commercial installment | $ | 3 | $ | 3 | $ | - | $ | 45 | $ | - | |||||||
Commercial real estate | 353 | 353 | - | 1,035 | 8 | ||||||||||||
Consumer real estate | 341 | 399 | - | 262 | 9 | ||||||||||||
Consumer installment | 4 | 4 | - | 5 | - | ||||||||||||
Total | $ | 701 | $ | 759 | $ | - | $ | 1,347 | $ | 17 | |||||||
Impaired loans with a related allowance: | |||||||||||||||||
Commercial installment | $ | 79 | $ | 79 | $ | 10 | $ | 42 | $ | 6 | |||||||
Commercial real estate | 2,685 | 2,685 | 400 | 2,147 | 100 | ||||||||||||
Consumer real estate | 1,202 | 1,272 | 404 | 1,019 | 21 | ||||||||||||
Consumer installment | 35 | 35 | 35 | 36 | 4 | ||||||||||||
Total | $ | 4,001 | $ | 4,071 | $ | 849 | $ | 3,244 | $ | 131 | |||||||
Total Impaired Loans: | |||||||||||||||||
Commercial installment | $ | 82 | $ | 82 | $ | 10 | $ | 87 | $ | 6 | |||||||
Commercial real estate | 3,038 | 3,038 | 400 | 3,182 | 108 | ||||||||||||
Consumer real estate | 1,543 | 1,671 | 404 | 1,281 | 30 | ||||||||||||
Consumer installment | 39 | 39 | 35 | 41 | 4 | ||||||||||||
Total Impaired Loans | $ | 4,702 | $ | 4,830 | $ | 849 | $ | 4,591 | $ | 148 | |||||||
The following tables provide additional detail of troubled debt restructurings at September 30, 2014. | |||||||||||||||||
For the Three Months Ending September 30, 2014 | |||||||||||||||||
Outstanding | |||||||||||||||||
Outstanding | Recorded | ||||||||||||||||
Recorded | Investment | Interest | |||||||||||||||
Investment | Post- | Number of | Income | ||||||||||||||
Pre-Modification | Modification | Loans | Recognized | ||||||||||||||
Commercial installment | $ | - | $ | - | - | $ | - | ||||||||||
Commercial real estate | 200 | 200 | 2 | 2 | |||||||||||||
Consumer real estate | - | - | - | - | |||||||||||||
Consumer installment | - | - | - | - | |||||||||||||
Total | $ | 200 | $ | 200 | 2 | $ | 2 | ||||||||||
For the Nine Months Ending September 30, 2014 | |||||||||||||||||
Outstanding | |||||||||||||||||
Outstanding | Recorded | ||||||||||||||||
Recorded | Investment | Interest | |||||||||||||||
Investment | Post- | Number of | Income | ||||||||||||||
Pre-Modification | Modification | Loans | Recognized | ||||||||||||||
Commercial installment | $ | 239 | $ | 175 | 1 | $ | 12 | ||||||||||
Commercial real estate | 525 | 523 | 3 | 13 | |||||||||||||
Consumer real estate | - | - | - | - | |||||||||||||
Consumer installment | - | - | - | - | |||||||||||||
Total | $ | 764 | $ | 698 | 4 | $ | 25 | ||||||||||
The recorded investment in receivables for which the allowance for credit losses was previously measured under a general allowance for credit losses methodology and are now impaired under Section 310-10-35 was $5.9 million. The allowance for credit losses associated with those receivables on the basis of a current evaluation of loss was $212,000. All loans were performing as agreed with modified terms. | |||||||||||||||||
During the three and nine month period ending September 30, 2014, there were 2 and 4 loans, respectively, modified as TDR, and are considered non-performing. | |||||||||||||||||
The following tables summarize by class our loans classified as past due in excess of 30 days or more in addition to those loans classified as non-accrual: | |||||||||||||||||
September 30, 2014 | |||||||||||||||||
(In thousands) | |||||||||||||||||
Past Due | Total | ||||||||||||||||
90 Days | Past Due | ||||||||||||||||
Past Due | or More | and | |||||||||||||||
30 to 89 | and Still | Non- | Non- | Total | |||||||||||||
Days | Accruing | Accrual | Accrual | Loans | |||||||||||||
Real Estate-construction | $ | 10 | $ | 69 | $ | 3,025 | $ | 3,104 | $ | 83,908 | |||||||
Real Estate-mortgage | 1,494 | 33 | 1,962 | 3,489 | 248,125 | ||||||||||||
Real Estate-non farm non residential | 450 | - | 1,028 | 1,478 | 217,684 | ||||||||||||
Commercial | 114 | - | 6 | 120 | 100,263 | ||||||||||||
Consumer | 75 | - | 11 | 86 | 17,553 | ||||||||||||
Total | $ | 2,143 | $ | 102 | $ | 6,032 | $ | 8,277 | $ | 667,533 | |||||||
December 31, 2013 | |||||||||||||||||
(In thousands) | |||||||||||||||||
Past Due | |||||||||||||||||
90 Days | Total | ||||||||||||||||
or More | Past Due | ||||||||||||||||
Past Due | and | and | |||||||||||||||
30 to 89 | Still | Non- | Non- | Total | |||||||||||||
Days | Accruing | Accrual | Accrual | Loans | |||||||||||||
Real Estate-construction | $ | 478 | $ | - | $ | 212 | $ | 690 | $ | 67,287 | |||||||
Real Estate-mortgage | 4,696 | 143 | 2,453 | 7,292 | 202,343 | ||||||||||||
Real Estate-non farm non residential | 252 | - | 507 | 759 | 212,388 | ||||||||||||
Commercial | 12 | - | 9 | 21 | 81,792 | ||||||||||||
Consumer | 115 | 16 | - | 131 | 15,813 | ||||||||||||
Total | $ | 5,553 | $ | 159 | $ | 3,181 | $ | 8,893 | $ | 579,623 | |||||||
The Company categorizes loans 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. The Company uses the following definitions for risk ratings, which are consistent with the definitions used in supervisory guidance: | |||||||||||||||||
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 Company’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. | |||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. | |||||||||||||||||
As of September 30, 2014 and December 31, 2013, and based on the most recent analysis performed, the risk categories of loans by class of loans (excluding mortgage loans held for sale) were as follows: | |||||||||||||||||
($ in thousands) | |||||||||||||||||
30-Sep-14 | |||||||||||||||||
Commercial, | |||||||||||||||||
Real | Installment | Financial | |||||||||||||||
Real Estate | Estate | and | and | ||||||||||||||
Commercial | Mortgage | Other | Agriculture | Total | |||||||||||||
Pass | $ | 370,529 | $ | 162,611 | $ | 14,687 | $ | 101,951 | $ | 649,778 | |||||||
Special Mention | 185 | 192 | - | 323 | 700 | ||||||||||||
Substandard | 14,829 | 2,420 | 91 | 84 | 17,424 | ||||||||||||
Doubtful | - | - | - | - | - | ||||||||||||
Subtotal | 385,543 | 165,223 | 14,778 | 102,358 | 667,902 | ||||||||||||
Less: | |||||||||||||||||
Unearned discount | 240 | 85 | - | 44 | 369 | ||||||||||||
Loans, net of unearned discount | $ | 385,303 | $ | 165,138 | $ | 14,778 | $ | 102,314 | $ | 667,533 | |||||||
31-Dec-13 | |||||||||||||||||
Commercial, | |||||||||||||||||
Real | Installment | Financial | |||||||||||||||
Real Estate | Estate | and | and | ||||||||||||||
Commercial | Mortgage | Other | Agriculture | Total | |||||||||||||
Pass | $ | 316,573 | $ | 145,787 | $ | 19,725 | $ | 80,087 | $ | 562,172 | |||||||
Special Mention | 4,084 | 32 | - | 1,033 | 5,149 | ||||||||||||
Substandard | 10,972 | 1,426 | 39 | 225 | 12,662 | ||||||||||||
Doubtful | - | - | - | - | - | ||||||||||||
Subtotal | 331,629 | 147,245 | 19,764 | 81,345 | 579,983 | ||||||||||||
Less: | |||||||||||||||||
Unearned discount | 236 | 97 | - | 27 | 360 | ||||||||||||
Loans, net of unearned discount | $ | 331,393 | $ | 147,148 | $ | 19,764 | $ | 81,318 | $ | 579,623 | |||||||
SECURITIES
SECURITIES | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Securities [Abstract] | ' | |||||||||||||
SECURITIES | ' | |||||||||||||
NOTE H — SECURITIES | ||||||||||||||
The following disclosure of the estimated fair value of financial instruments is made in accordance with authoritative guidance. The estimated fair value amounts have been determined using available market information and appropriate valuation methodologies. However, considerable judgment is necessarily required to interpret market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that could be realized in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. | ||||||||||||||
A summary of the amortized cost and estimated fair value of available-for-sale securities and held-to-maturity securities at September 30, 2014, follows: | ||||||||||||||
($ in thousands) | ||||||||||||||
September 30, 2014 | ||||||||||||||
Gross | Gross | |||||||||||||
Amortized | Unrealized | Unrealized | Estimated | |||||||||||
Cost | Gains | Losses | Fair Value | |||||||||||
Available-for-sale securities: | ||||||||||||||
Obligations of U.S. Government Agencies | $ | 29,789 | $ | 115 | $ | 67 | $ | 29,837 | ||||||
Tax-exempt and taxable obligations of states and municipal subdivisions | 104,661 | 2,758 | 288 | 107,131 | ||||||||||
Mortgage-backed securities | 95,205 | 1,066 | 555 | 95,716 | ||||||||||
Corporate obligations | 30,099 | 248 | 1,347 | 29,000 | ||||||||||
Other | 1,255 | - | 288 | 967 | ||||||||||
Total | $ | 261,009 | $ | 4,187 | $ | 2,545 | $ | 262,651 | ||||||
Held-to-maturity securities: | ||||||||||||||
Mortgage-backed securities | $ | 2,411 | $ | - | $ | 10 | $ | 2,401 | ||||||
Taxable obligations of states and municipal subdivisions | 6,000 | 1,564 | - | 7,564 | ||||||||||
Total | $ | 8,411 | $ | 1,564 | $ | 10 | $ | 9,965 | ||||||
ALLOWANCE_FOR_LOAN_LOSSES
ALLOWANCE FOR LOAN LOSSES | 9 Months Ended |
Sep. 30, 2014 | |
Allowance For Loan Losses [Abstract] | ' |
ALLOWANCE FOR LOAN LOSSES | ' |
NOTE I — ALLOWANCE FOR LOAN LOSSES | |
The Company has developed policies and procedures for evaluating the overall quality of its credit portfolio and the timely identification of potential problem loans. Management’s judgment as to the adequacy of the allowance is based upon a number of assumptions which it believes to be reasonable, but which may not prove to be accurate, particularly given the Company’s growth and the economy. Thus, there can be no assurance that charge-offs in future periods will not exceed the allowance for loan losses or that additional increases in the loan loss allowance will not be required. | |
The Company’s allowance consists of two parts. The first part is determined in accordance with authoritative guidance regarding contingencies. The Company’s determination of this part of the allowance is based upon quantitative and qualitative factors. A loan loss history based upon the three year quarterly moving average is utilized in determining the appropriate allowance. Historical loss factors are determined by graded and ungraded loans by loan type. These historical loss factors are applied to the loans by loan type to determine an indicated allowance. The loss factors of peer groups are considered in the determination of the allowance and are used to assist in the establishment of a long-term loss history for areas in which this data is unavailable and incorporated into the qualitative factors to be considered. The historical loss factors may also be modified based upon other qualitative factors including but not limited to local and national economic conditions, trends of delinquent loans, changes in lending policies and underwriting standards, concentrations, and management’s knowledge of the loan portfolio. These factors require judgment upon the part of management and are based upon state and national economic reports received from various institutions and agencies including the Federal Reserve Bank, United States Bureau of Economic Analysis, Bureau of Labor Statistics, meetings with the Company’s loan officers and loan committee, and data and guidance received or obtained from the Company’s regulatory authorities. | |
The second part of the allowance is determined in accordance with authoritative guidance regarding loan impairment. Impaired loans are determined based upon a review by internal loan review and senior loan officers. | |
The sum of the two parts constitutes management’s best estimate of an appropriate allowance for loan losses. When the estimated allowance is determined, it is presented to the Company’s audit committee for review and approval on a quarterly basis. | |
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. | |
Impairment is measured on a loan by loan basis, and a specific allowance is assigned to each loan determined to be impaired. Impaired loans not deemed collateral dependent are analyzed according to the ultimate repayment source, whether that is cash flow from the borrower, guarantor or some other source of repayment. Impaired loans are deemed collateral dependent if, in the Company’s opinion, the ultimate source of repayment will be generated from the liquidation of collateral. | |
The Company discontinues accrual of interest on loans when management believes, after considering economic and business conditions and collection efforts, that a borrower’s financial condition is such that the collection of interest is doubtful. Generally, the Company will place a delinquent loan in nonaccrual status when the loan becomes 90 days or more past due. At the time a loan is placed in nonaccrual status, all interest which has been accrued on the loan but remains unpaid is reversed and deducted from earnings as a reduction of reported interest income. No additional interest is accrued on the loan balance until the collection of both principal and interest becomes reasonably certain. | |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
NOTE J – SUBSEQUENT EVENTS | |
Subsequent events have been evaluated by management through the date the financial statements were issued. | |
RECLASSIFICATION
RECLASSIFICATION | 9 Months Ended |
Sep. 30, 2014 | |
Reclassification [Abstract] | ' |
RECLASSIFICATION | ' |
NOTE K – RECLASSIFICATION | |
Certain amounts in the 2013 financial statements have been reclassified for comparative purposes to conform to the current period financial statement presentation. | |
BUSINESS_COMBINATION_Tables
BUSINESS COMBINATION (Tables) | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Business Combinations [Abstract] | ' | ||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ' | ||||
The amounts of the acquired identifiable assets and liabilities as of the acquisition date were as follows(dollars in thousands): | |||||
Purchase price: | |||||
Cash and fair value of common stock | $ | 6,300 | |||
Total purchase price | 6,300 | ||||
Identifiable assets: | |||||
Cash and due from banks | 8,307 | ||||
Investments | 23,423 | ||||
Loans and leases | 38,393 | ||||
Other Real Estate | 644 | ||||
Core deposit intangible | 225 | ||||
Personal and real property | 3,670 | ||||
Deferred tax asset | 2,502 | ||||
Other assets | 305 | ||||
Total assets | 77,469 | ||||
Liabilities and equity: | |||||
Deposits | 59,321 | ||||
Borrowed funds | 13,104 | ||||
Other liabilities | 152 | ||||
Total liabilities | 72,577 | ||||
Net assets acquired | 4,892 | ||||
Goodwill resulting from acquisition | $ | 1,408 | |||
Business Combination, Separately Recognized Transactions | ' | ||||
The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet at September 30, 2014, are as follows (dollars in thousands): | |||||
Outstanding principal balance | $ | 39,085 | |||
Carrying amount | 37,508 | ||||
EARNINGS_APPLICABLE_TO_COMMON_1
EARNINGS APPLICABLE TO COMMON STOCKHOLDERS (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||
Weighted-Average Number of Common Shares Outstanding | ' | ||||||||||
Basic per share data is calculated based on the weighted-average number of common shares outstanding during the reporting period. Diluted per share data includes any dilution from potential common stock outstanding, such as stock options. | |||||||||||
For the Three Months Ended | |||||||||||
September 30, 2014 | |||||||||||
Net Income | Shares | Per | |||||||||
(Numerator) | (Denominator) | Share Data | |||||||||
Basic per share | $ | 1,448,000 | 5,311,876 | $ | 0.27 | ||||||
Effect of dilutive shares: | |||||||||||
Restricted stock grants | 37,810 | ||||||||||
Diluted per share | $ | 1,448,000 | 5,349,686 | $ | 0.27 | ||||||
For the Nine Months Ended | |||||||||||
September 30, 2014 | |||||||||||
Net Income | Shares | Per | |||||||||
(Numerator) | (Denominator) | Share Data | |||||||||
Basic per share | $ | 4,296,000 | 5,198,776 | $ | 0.83 | ||||||
Effect of dilutive shares: | |||||||||||
Restricted stock grants | 37,810 | ||||||||||
Diluted per share | $ | 4,296,000 | 5,236,586 | $ | 0.82 | ||||||
For the Three Months Ended | |||||||||||
September 30, 2013 | |||||||||||
Net Income | Shares | Per | |||||||||
(Numerator) | (Denominator) | Share Data | |||||||||
Basic per share | $ | 998,000 | 5,102,572 | $ | 0.2 | ||||||
Effect of dilutive shares: | |||||||||||
Restricted stock grants | 47,945 | ||||||||||
Diluted per share | $ | 998,000 | 5,150,517 | $ | 0.19 | ||||||
For the Nine Months Ended | |||||||||||
September 30, 2013 | |||||||||||
Net Income | Shares | Per | |||||||||
(Numerator) | (Denominator) | Share Data | |||||||||
Basic per share | $ | 2,823,000 | 4,058,432 | $ | 0.7 | ||||||
Effect of dilutive shares: | |||||||||||
Restricted stock grants | 47,945 | ||||||||||
Diluted per share | $ | 2,823,000 | 4,106,377 | $ | 0.69 | ||||||
FAIR_VALUE_OF_ASSETS_AND_LIABI1
FAIR VALUE OF ASSETS AND LIABILITIES (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Assets Measured on Recurring Basis | ' | ||||||||||||||||
The following table presents the Company’s assets that are measured at fair value on a recurring basis and the level within the hierarchy in which the fair value measurements fell as of September 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||
30-Sep-14 | |||||||||||||||||
(Dollars in thousands) | Fair Value Measurements Using | ||||||||||||||||
Quoted Prices | |||||||||||||||||
in | |||||||||||||||||
Active | |||||||||||||||||
Markets | Significant | ||||||||||||||||
For | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Obligations of U. S. Government Agencies | $ | 29,837 | $ | - | $ | 29,837 | $ | - | |||||||||
Municipal securities | 107,131 | - | 107,131 | - | |||||||||||||
Mortgage-backed securities | 95,716 | - | 95,716 | - | |||||||||||||
Corporate obligations | 29,000 | - | 26,193 | 2,807 | |||||||||||||
Other | 967 | 967 | - | - | |||||||||||||
Total | $ | 262,651 | $ | 967 | $ | 258,877 | $ | 2,807 | |||||||||
31-Dec-13 | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in | |||||||||||||||||
Active | |||||||||||||||||
Markets | Significant | ||||||||||||||||
For | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Obligations of U. S. Government Agencies | $ | 29,962 | $ | - | $ | 29,962 | $ | - | |||||||||
Municipal securities | 108,078 | - | 108,078 | - | |||||||||||||
Mortgage-backed securities | 78,187 | - | 78,187 | - | |||||||||||||
Corporate obligations | 26,852 | - | 24,054 | 2,798 | |||||||||||||
Other | 972 | 972 | - | - | |||||||||||||
Total | $ | 244,051 | $ | 972 | $ | 240,281 | $ | 2,798 | |||||||||
Reconciliation of Activity for Assets Measured at Fair Value based on Significant Unobservable (Non-market) Information | ' | ||||||||||||||||
The following is a reconciliation of activity for assets measured at fair value based on significant unobservable (non-market) information. | |||||||||||||||||
Bank-Issued | |||||||||||||||||
Trust | |||||||||||||||||
Preferred | |||||||||||||||||
(Dollars in thousands) | Securities | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
Balance, January 1 | $ | 2,798 | $ | 2,668 | |||||||||||||
Transfers into Level 3 | - | ||||||||||||||||
Transfers out of Level 3 | - | ||||||||||||||||
Other-than-temporary impairment loss included in earnings | - | ||||||||||||||||
Unrealized gain included in comprehensive income | 9 | 130 | |||||||||||||||
Balance at September 30, 2014 and December 31, 2013 | $ | 2,807 | $ | 2,798 | |||||||||||||
Quantitative Information About Recurring Level 3 Fair Value Measurements | ' | ||||||||||||||||
The following table presents quantitative information about recurring Level 3 fair value measurements (in thousands): | |||||||||||||||||
Significant | |||||||||||||||||
Trust Preferred | Fair | Valuation | Unobservable | Range of | |||||||||||||
Securities | Value | Technique | Inputs | Inputs | |||||||||||||
30-Sep-14 | 2,807 | Discounted cash flow | Probability of default | 0 – 100% | |||||||||||||
31-Dec-13 | 2,798 | Discounted cash flow | Probability of default | 0 – 100% | |||||||||||||
Fair Value Assets Measured on Nonrecurring Basis | ' | ||||||||||||||||
The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fell at September 30, 2014 and December 31, 2013. | |||||||||||||||||
($ in thousands) | |||||||||||||||||
30-Sep-14 | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Quoted | |||||||||||||||||
Prices in | |||||||||||||||||
Active | |||||||||||||||||
Markets | Significant | ||||||||||||||||
For | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Impaired loans | $ | 8,736 | $ | - | $ | 8,736 | $ | - | |||||||||
Other real estate owned | 4,986 | - | 4,986 | - | |||||||||||||
31-Dec-13 | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Quoted | |||||||||||||||||
Prices in | |||||||||||||||||
Active | |||||||||||||||||
Markets | Significant | ||||||||||||||||
For | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
Fair Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Impaired loans | $ | 4,830 | $ | - | $ | 4,830 | $ | - | |||||||||
Other real estate owned | 4,470 | - | 4,470 | - | |||||||||||||
Financial Instruments with No Distinguishable Fair Value | ' | ||||||||||||||||
Management has determined that these instruments do not have a distinguishable fair value and no fair value has been assigned. | |||||||||||||||||
As of September 30, 2014 | Fair Value Measurements | ||||||||||||||||
Significant | |||||||||||||||||
Other | Significant | ||||||||||||||||
Estimated | Quoted | Observable | Unobservable | ||||||||||||||
Carrying | Fair | Prices | Inputs | Inputs | |||||||||||||
Amount | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Financial Instruments: | |||||||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 50,447 | $ | 50,447 | $ | 50,447 | $ | - | $ | - | |||||||
Securities available-for- sale | 262,651 | 262,651 | 967 | 258,877 | 2,807 | ||||||||||||
Securities held-to-maturity | 8,411 | 9,965 | - | 9,965 | - | ||||||||||||
Other securities | 5,592 | 5,592 | - | 5,592 | - | ||||||||||||
Loans, net | 665,218 | 680,603 | - | - | 680,603 | ||||||||||||
Bank-owned life insurance | 14,359 | 14,359 | - | 14,359 | - | ||||||||||||
Liabilities: | |||||||||||||||||
Noninterest-bearing deposits | $ | 195,957 | $ | 195,957 | $ | - | $ | 195,957 | $ | - | |||||||
Interest-bearing deposits | 711,558 | 711,192 | - | 711,192 | - | ||||||||||||
Subordinated debentures | 10,310 | 10,310 | - | - | 10,310 | ||||||||||||
FHLB and other borrowings | 49,456 | 49,456 | - | 49,456 | - | ||||||||||||
As of December 31, 2013 | Fair Value Measurements | ||||||||||||||||
Significant | |||||||||||||||||
Other | Significant | ||||||||||||||||
Estimated | Quoted | Observable | Unobservable | ||||||||||||||
Carrying | Fair | Prices | Inputs | Inputs | |||||||||||||
Amount | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Financial Instruments: | |||||||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 39,252 | $ | 39,252 | $ | 39,252 | $ | - | $ | - | |||||||
Securities available-for- sale | 244,051 | 244,051 | 972 | 240,281 | 2,798 | ||||||||||||
Securities held-to-maturity | 8,438 | 9,624 | - | 9,624 | - | ||||||||||||
Other securities | 5,534 | 5,534 | - | 5,534 | - | ||||||||||||
Loans, net | 577,575 | 590,866 | - | - | 590,866 | ||||||||||||
Bank-owned life insurance | 6,593 | 6,593 | - | 6,593 | - | ||||||||||||
Liabilities: | |||||||||||||||||
Noninterest-bearing deposits | $ | 173,794 | $ | 173,794 | $ | - | $ | 173,794 | $ | - | |||||||
Interest-bearing deposits | 606,177 | 605,737 | - | 605,737 | - | ||||||||||||
Subordinated debentures | 10,310 | 10,310 | - | - | 10,310 | ||||||||||||
FHLB and other borrowings | 52,000 | 52,000 | - | 52,000 | - | ||||||||||||
LOANS_Tables
LOANS (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Loans Receivable, Net [Abstract] | ' | ||||||||||||||||
Composition of Loan Portfolio | ' | ||||||||||||||||
The following table shows the composition of the loan portfolio by category: | |||||||||||||||||
Composition of Loan Portfolio | |||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||
Percent | Percent | ||||||||||||||||
of | of | ||||||||||||||||
Amount | Total | Amount | Total | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Mortgage loans held for sale | $ | 3,769 | 0.6 | % | $ | 3,680 | 0.6 | % | |||||||||
Commercial, financial and agricultural | 100,263 | 14.9 | 81,792 | 14 | |||||||||||||
Real Estate: | |||||||||||||||||
Mortgage-commercial | 217,684 | 32.4 | 202,343 | 34.7 | |||||||||||||
Mortgage-residential | 248,125 | 37 | 212,388 | 36.4 | |||||||||||||
Construction | 83,908 | 12.5 | 67,287 | 11.5 | |||||||||||||
Consumer and other | 17,553 | 2.6 | 15,813 | 2.8 | |||||||||||||
Total loans | 671,302 | 100 | % | 583,303 | 100 | % | |||||||||||
Allowance for loan losses | -6,084 | -5,728 | |||||||||||||||
Net loans | $ | 665,218 | $ | 577,575 | |||||||||||||
Activity in Allowance for Loan Losses | ' | ||||||||||||||||
Activity in the allowance for loan losses for the period was as follows: | |||||||||||||||||
(In thousands) | |||||||||||||||||
Three Months | Nine Months | ||||||||||||||||
Ended | Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
Balance at beginning of period | $ | 5,999 | $ | 5,728 | |||||||||||||
Loans charged-off: | |||||||||||||||||
Real Estate | -307 | -1,056 | |||||||||||||||
Installment and Other | -67 | -126 | |||||||||||||||
Commercial, Financial and Agriculture | -52 | -52 | |||||||||||||||
Total | -426 | -1,234 | |||||||||||||||
Recoveries on loans previously charged-off: | |||||||||||||||||
Real Estate | -146 | 254 | |||||||||||||||
Installment and Other | 22 | 58 | |||||||||||||||
Commercial, Financial and Agriculture | 4 | 12 | |||||||||||||||
Total | -120 | 324 | |||||||||||||||
Net charge-offs | -546 | -910 | |||||||||||||||
Provision for Loan Losses | 631 | 1,266 | |||||||||||||||
Balance at end of period | $ | 6,084 | $ | 6,084 | |||||||||||||
Allocation of Allowance for Loan Losses | ' | ||||||||||||||||
The following tables represent how the allowance for loan losses is allocated to a particular loan type, as well as the percentage of the category to total loans at September 30, 2014 and December 31, 2013. | |||||||||||||||||
Allocation of the Allowance for Loan Losses | |||||||||||||||||
September 30, 2014 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
% of loans | |||||||||||||||||
in each category | |||||||||||||||||
Amount | to total loans | ||||||||||||||||
Commercial Non Real Estate | $ | 687 | 15.3 | % | |||||||||||||
Commercial Real Estate | 3,647 | 57.7 | |||||||||||||||
Consumer Real Estate | 1,554 | 24.8 | |||||||||||||||
Consumer | 173 | 2.2 | |||||||||||||||
Unallocated | 23 | - | |||||||||||||||
Total | $ | 6,084 | 100 | % | |||||||||||||
December 31, 2013 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
% of loans | |||||||||||||||||
in each category | |||||||||||||||||
Amount | to total loans | ||||||||||||||||
Commercial Non Real Estate | $ | 582 | 14 | % | |||||||||||||
Commercial Real Estate | 3,384 | 57.2 | |||||||||||||||
Consumer Real Estate | 1,427 | 25.4 | |||||||||||||||
Consumer | 173 | 3.4 | |||||||||||||||
Unallocated | 162 | - | |||||||||||||||
Total | $ | 5,728 | 100 | % | |||||||||||||
Impaired Loans | ' | ||||||||||||||||
The following table represents the Company’s impaired loans at September 30, 2014, and December 31, 2013. | |||||||||||||||||
Sept. 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
(In thousands) | |||||||||||||||||
Impaired Loans: | |||||||||||||||||
Impaired loans without a valuation allowance | $ | 4,504 | $ | 701 | |||||||||||||
Impaired loans with a valuation allowance | 4,162 | 4,001 | |||||||||||||||
Total impaired loans | $ | 8,666 | $ | 4,702 | |||||||||||||
Allowance for loan losses on impaired loans at period end | 818 | 849 | |||||||||||||||
Total nonaccrual loans | 6,032 | 3,181 | |||||||||||||||
Past due 90 days or more and still accruing | 102 | 159 | |||||||||||||||
Average investment in impaired loans | 6,458 | 4,007 | |||||||||||||||
Summary of Interest Recognized and Cash-Basis Interest Earned on Impaired Loans | ' | ||||||||||||||||
The following table is a summary of interest recognized and cash-basis interest earned on impaired loans: | |||||||||||||||||
Three Months | Nine Months | ||||||||||||||||
Ended | Ended | ||||||||||||||||
Sept. 30, 2014 | Sept. 30, 2014 | ||||||||||||||||
Average of individually impaired loans during period | $ | 8,429 | $ | 6,458 | |||||||||||||
Interest income recognized during impairment | 38 | 129 | |||||||||||||||
Cash-basis interest income recognized | 38 | 219 | |||||||||||||||
Loans and Allowance for Loan Losses Evaluated Individually and Collectively | ' | ||||||||||||||||
The following tables provide the ending balances in the Company's loans (excluding mortgage loans held for sale) and allowance for loan losses, broken down by portfolio segment as of September 30, 2014 and December 31, 2013. The tables also provide additional detail as to the amount of our loans and allowance that correspond to individual versus collective impairment evaluation. The impairment evaluation corresponds to the Company's systematic methodology for estimating its Allowance for Loan Losses. | |||||||||||||||||
30-Sep-14 | |||||||||||||||||
Commercial, | |||||||||||||||||
Installment | Financial | ||||||||||||||||
Real | and | and | |||||||||||||||
Estate | Other | Agriculture | Total | ||||||||||||||
(In thousands) | |||||||||||||||||
Loans | |||||||||||||||||
Individually evaluated | $ | 8,370 | $ | 50 | $ | 246 | $ | 8,666 | |||||||||
Collectively evaluated | 542,071 | 14,728 | 102,068 | 658,867 | |||||||||||||
Total | $ | 550,441 | $ | 14,778 | $ | 102,314 | $ | 667,533 | |||||||||
Allowance for Loan Losses | |||||||||||||||||
Individually evaluated | $ | 771 | $ | 30 | $ | 17 | $ | 818 | |||||||||
Collectively evaluated | 4,430 | 166 | 670 | 5,266 | |||||||||||||
Total | $ | 5,201 | $ | 196 | $ | 687 | $ | 6,084 | |||||||||
31-Dec-13 | |||||||||||||||||
Commercial, | |||||||||||||||||
Installment | Financial | ||||||||||||||||
Real | and | and | |||||||||||||||
Estate | Other | Agriculture | Total | ||||||||||||||
(In thousands) | |||||||||||||||||
Loans | |||||||||||||||||
Individually evaluated | $ | 4,709 | $ | 39 | $ | 82 | $ | 4,830 | |||||||||
Collectively evaluated | 473,832 | 19,725 | 81,236 | 574,793 | |||||||||||||
Total | $ | 478,541 | $ | 19,764 | $ | 81,318 | $ | 579,623 | |||||||||
Allowance for Loan Losses | |||||||||||||||||
Individually evaluated | $ | 804 | $ | 35 | $ | 10 | $ | 849 | |||||||||
Collectively evaluated | 4,007 | 300 | 572 | 4,879 | |||||||||||||
Total | $ | 4,811 | $ | 335 | $ | 582 | $ | 5,728 | |||||||||
Troubled Debt Restructurings | ' | ||||||||||||||||
The following tables provide additional detail of impaired loans broken out according to class as of September 30, 2014 and December 31, 2013. The recorded investment included in the following table represents customer balances net of any partial charge-offs recognized on the loans, net of any deferred fees and costs. As nearly all of our impaired loans at September 30, 2014, are on nonaccrual status, recorded investment excludes any insignificant amount of accrued interest receivable on loans 90-days or more past due and still accruing. The unpaid balance represents the recorded balance prior to any partial charge-offs. | |||||||||||||||||
September 30, 2014 | |||||||||||||||||
Average | Interest | ||||||||||||||||
Recorded | Income | ||||||||||||||||
Recorded | Unpaid | Related | Investment | Recognized | |||||||||||||
Investment | Balance | Allowance | YTD | YTD | |||||||||||||
(In thousands) | |||||||||||||||||
Impaired loans with no related allowance: | |||||||||||||||||
Commercial installment | $ | 3 | $ | 3 | $ | - | $ | 63 | $ | - | |||||||
Commercial real estate | 4,264 | 4,264 | - | 2,152 | 95 | ||||||||||||
Consumer real estate | 216 | 216 | - | 217 | 3 | ||||||||||||
Consumer installment | 21 | 21 | - | 11 | 1 | ||||||||||||
Total | $ | 4,504 | $ | 4,504 | $ | - | $ | 2,443 | $ | 99 | |||||||
Impaired loans with a related allowance: | |||||||||||||||||
Commercial installment | $ | 243 | $ | 243 | $ | 17 | $ | 177 | $ | 16 | |||||||
Commercial real estate | 2,570 | 2,640 | 451 | 2,379 | 91 | ||||||||||||
Consumer real estate | 1,320 | 1,320 | 320 | 1,425 | 11 | ||||||||||||
Consumer installment | 29 | 29 | 30 | 34 | 2 | ||||||||||||
Total | $ | 4,162 | $ | 4,232 | $ | 818 | $ | 4,015 | $ | 120 | |||||||
Total Impaired Loans: | |||||||||||||||||
Commercial installment | $ | 246 | $ | 246 | $ | 17 | $ | 240 | $ | 16 | |||||||
Commercial real estate | 6,834 | 6,904 | 451 | 4,531 | 186 | ||||||||||||
Consumer real estate | 1,536 | 1,536 | 320 | 1,642 | 14 | ||||||||||||
Consumer installment | 50 | 50 | 30 | 45 | 3 | ||||||||||||
Total Impaired Loans | $ | 8,666 | $ | 8,736 | $ | 818 | $ | 6,458 | $ | 219 | |||||||
31-Dec-13 | |||||||||||||||||
Average | Interest | ||||||||||||||||
Recorded | Income | ||||||||||||||||
Recorded | Unpaid | Related | Investment | Recognized | |||||||||||||
Investment | Balance | Allowance | YTD | YTD | |||||||||||||
(In thousands) | |||||||||||||||||
Impaired loans with no related allowance: | |||||||||||||||||
Commercial installment | $ | 3 | $ | 3 | $ | - | $ | 45 | $ | - | |||||||
Commercial real estate | 353 | 353 | - | 1,035 | 8 | ||||||||||||
Consumer real estate | 341 | 399 | - | 262 | 9 | ||||||||||||
Consumer installment | 4 | 4 | - | 5 | - | ||||||||||||
Total | $ | 701 | $ | 759 | $ | - | $ | 1,347 | $ | 17 | |||||||
Impaired loans with a related allowance: | |||||||||||||||||
Commercial installment | $ | 79 | $ | 79 | $ | 10 | $ | 42 | $ | 6 | |||||||
Commercial real estate | 2,685 | 2,685 | 400 | 2,147 | 100 | ||||||||||||
Consumer real estate | 1,202 | 1,272 | 404 | 1,019 | 21 | ||||||||||||
Consumer installment | 35 | 35 | 35 | 36 | 4 | ||||||||||||
Total | $ | 4,001 | $ | 4,071 | $ | 849 | $ | 3,244 | $ | 131 | |||||||
Total Impaired Loans: | |||||||||||||||||
Commercial installment | $ | 82 | $ | 82 | $ | 10 | $ | 87 | $ | 6 | |||||||
Commercial real estate | 3,038 | 3,038 | 400 | 3,182 | 108 | ||||||||||||
Consumer real estate | 1,543 | 1,671 | 404 | 1,281 | 30 | ||||||||||||
Consumer installment | 39 | 39 | 35 | 41 | 4 | ||||||||||||
Total Impaired Loans | $ | 4,702 | $ | 4,830 | $ | 849 | $ | 4,591 | $ | 148 | |||||||
Additional Detail of Troubled Debt Restructurings | ' | ||||||||||||||||
The following tables provide additional detail of troubled debt restructurings at September 30, 2014. | |||||||||||||||||
For the Three Months Ending September 30, 2014 | |||||||||||||||||
Outstanding | |||||||||||||||||
Outstanding | Recorded | ||||||||||||||||
Recorded | Investment | Interest | |||||||||||||||
Investment | Post- | Number of | Income | ||||||||||||||
Pre-Modification | Modification | Loans | Recognized | ||||||||||||||
Commercial installment | $ | - | $ | - | - | $ | - | ||||||||||
Commercial real estate | 200 | 200 | 2 | 2 | |||||||||||||
Consumer real estate | - | - | - | - | |||||||||||||
Consumer installment | - | - | - | - | |||||||||||||
Total | $ | 200 | $ | 200 | 2 | $ | 2 | ||||||||||
For the Nine Months Ending September 30, 2014 | |||||||||||||||||
Outstanding | |||||||||||||||||
Outstanding | Recorded | ||||||||||||||||
Recorded | Investment | Interest | |||||||||||||||
Investment | Post- | Number of | Income | ||||||||||||||
Pre-Modification | Modification | Loans | Recognized | ||||||||||||||
Commercial installment | $ | 239 | $ | 175 | 1 | $ | 12 | ||||||||||
Commercial real estate | 525 | 523 | 3 | 13 | |||||||||||||
Consumer real estate | - | - | - | - | |||||||||||||
Consumer installment | - | - | - | - | |||||||||||||
Total | $ | 764 | $ | 698 | 4 | $ | 25 | ||||||||||
Summary of Loans Classified as Past Due in Excess of Thirty Days or More and Loans Classified as Non-Accrual | ' | ||||||||||||||||
The following tables summarize by class our loans classified as past due in excess of 30 days or more in addition to those loans classified as non-accrual: | |||||||||||||||||
September 30, 2014 | |||||||||||||||||
(In thousands) | |||||||||||||||||
Past Due | Total | ||||||||||||||||
90 Days | Past Due | ||||||||||||||||
Past Due | or More | and | |||||||||||||||
30 to 89 | and Still | Non- | Non- | Total | |||||||||||||
Days | Accruing | Accrual | Accrual | Loans | |||||||||||||
Real Estate-construction | $ | 10 | $ | 69 | $ | 3,025 | $ | 3,104 | $ | 83,908 | |||||||
Real Estate-mortgage | 1,494 | 33 | 1,962 | 3,489 | 248,125 | ||||||||||||
Real Estate-non farm non residential | 450 | - | 1,028 | 1,478 | 217,684 | ||||||||||||
Commercial | 114 | - | 6 | 120 | 100,263 | ||||||||||||
Consumer | 75 | - | 11 | 86 | 17,553 | ||||||||||||
Total | $ | 2,143 | $ | 102 | $ | 6,032 | $ | 8,277 | $ | 667,533 | |||||||
December 31, 2013 | |||||||||||||||||
(In thousands) | |||||||||||||||||
Past Due | |||||||||||||||||
90 Days | Total | ||||||||||||||||
or More | Past Due | ||||||||||||||||
Past Due | and | and | |||||||||||||||
30 to 89 | Still | Non- | Non- | Total | |||||||||||||
Days | Accruing | Accrual | Accrual | Loans | |||||||||||||
Real Estate-construction | $ | 478 | $ | - | $ | 212 | $ | 690 | $ | 67,287 | |||||||
Real Estate-mortgage | 4,696 | 143 | 2,453 | 7,292 | 202,343 | ||||||||||||
Real Estate-non farm non residential | 252 | - | 507 | 759 | 212,388 | ||||||||||||
Commercial | 12 | - | 9 | 21 | 81,792 | ||||||||||||
Consumer | 115 | 16 | - | 131 | 15,813 | ||||||||||||
Total | $ | 5,553 | $ | 159 | $ | 3,181 | $ | 8,893 | $ | 579,623 | |||||||
Risk Category of Loans by Class of Loans | ' | ||||||||||||||||
As of September 30, 2014 and December 31, 2013, and based on the most recent analysis performed, the risk categories of loans by class of loans (excluding mortgage loans held for sale) were as follows: | |||||||||||||||||
($ in thousands) | |||||||||||||||||
30-Sep-14 | |||||||||||||||||
Commercial, | |||||||||||||||||
Real | Installment | Financial | |||||||||||||||
Real Estate | Estate | and | and | ||||||||||||||
Commercial | Mortgage | Other | Agriculture | Total | |||||||||||||
Pass | $ | 370,529 | $ | 162,611 | $ | 14,687 | $ | 101,951 | $ | 649,778 | |||||||
Special Mention | 185 | 192 | - | 323 | 700 | ||||||||||||
Substandard | 14,829 | 2,420 | 91 | 84 | 17,424 | ||||||||||||
Doubtful | - | - | - | - | - | ||||||||||||
Subtotal | 385,543 | 165,223 | 14,778 | 102,358 | 667,902 | ||||||||||||
Less: | |||||||||||||||||
Unearned discount | 240 | 85 | - | 44 | 369 | ||||||||||||
Loans, net of unearned discount | $ | 385,303 | $ | 165,138 | $ | 14,778 | $ | 102,314 | $ | 667,533 | |||||||
31-Dec-13 | |||||||||||||||||
Commercial, | |||||||||||||||||
Real | Installment | Financial | |||||||||||||||
Real Estate | Estate | and | and | ||||||||||||||
Commercial | Mortgage | Other | Agriculture | Total | |||||||||||||
Pass | $ | 316,573 | $ | 145,787 | $ | 19,725 | $ | 80,087 | $ | 562,172 | |||||||
Special Mention | 4,084 | 32 | - | 1,033 | 5,149 | ||||||||||||
Substandard | 10,972 | 1,426 | 39 | 225 | 12,662 | ||||||||||||
Doubtful | - | - | - | - | - | ||||||||||||
Subtotal | 331,629 | 147,245 | 19,764 | 81,345 | 579,983 | ||||||||||||
Less: | |||||||||||||||||
Unearned discount | 236 | 97 | - | 27 | 360 | ||||||||||||
Loans, net of unearned discount | $ | 331,393 | $ | 147,148 | $ | 19,764 | $ | 81,318 | $ | 579,623 | |||||||
SECURITIES_Tables
SECURITIES (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Securities [Abstract] | ' | |||||||||||||
Summary of Amortized Cost and Estimated Fair Value of Available-For-Sale Securities and Held-to-Maturity Securities | ' | |||||||||||||
A summary of the amortized cost and estimated fair value of available-for-sale securities and held-to-maturity securities at September 30, 2014, follows: | ||||||||||||||
($ in thousands) | ||||||||||||||
September 30, 2014 | ||||||||||||||
Gross | Gross | |||||||||||||
Amortized | Unrealized | Unrealized | Estimated | |||||||||||
Cost | Gains | Losses | Fair Value | |||||||||||
Available-for-sale securities: | ||||||||||||||
Obligations of U.S. Government Agencies | $ | 29,789 | $ | 115 | $ | 67 | $ | 29,837 | ||||||
Tax-exempt and taxable obligations of states and municipal subdivisions | 104,661 | 2,758 | 288 | 107,131 | ||||||||||
Mortgage-backed securities | 95,205 | 1,066 | 555 | 95,716 | ||||||||||
Corporate obligations | 30,099 | 248 | 1,347 | 29,000 | ||||||||||
Other | 1,255 | - | 288 | 967 | ||||||||||
Total | $ | 261,009 | $ | 4,187 | $ | 2,545 | $ | 262,651 | ||||||
Held-to-maturity securities: | ||||||||||||||
Mortgage-backed securities | $ | 2,411 | $ | - | $ | 10 | $ | 2,401 | ||||||
Taxable obligations of states and municipal subdivisions | 6,000 | 1,564 | - | 7,564 | ||||||||||
Total | $ | 8,411 | $ | 1,564 | $ | 10 | $ | 9,965 | ||||||
Summary_of_Organization_Additi
Summary of Organization - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 |
Organization [Line Items] | ' | ' | ' | ' | ' | ' |
Date of entity incorporation | ' | ' | 23-Jun-95 | ' | ' | ' |
Entity Incorporation, State Country Name | ' | ' | 'Hattiesburg, Mississippi | ' | ' | ' |
Assets | $1,071,981 | ' | $1,071,981 | ' | $940,890 | ' |
Loans, including Loans held for sale | 671,302 | ' | 671,302 | ' | 583,303 | ' |
Deposits | 907,515 | ' | 907,515 | ' | 779,971 | ' |
Stockholders' equity | 93,592 | 83,760 | 93,592 | 83,760 | 85,108 | 65,886 |
Net income | 1,533 | 1,104 | 4,573 | 3,141 | ' | ' |
Net income applicable to common Stockholders | $1,448 | $998 | $4,296 | $2,823 | ' | ' |
Dividends on common stock, per share | $0.04 | $0.04 | $0.11 | $0.11 | ' | ' |
Business_Combination_Additiona
Business Combination - Additional Information (Detail) (USD $) | 0 Months Ended | 9 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Mar. 03, 2014 | Sep. 30, 2014 |
Business Acquisition [Line Items] | ' | ' |
Percentage of consideration paid | 30.00% | ' |
Cash payment price per share | $0.40 | ' |
Shares issued, price per share | $2.25 | ' |
Business Acquisition Purchase Price Allocation Loans Receivable | ' | $40.10 |
Business Combination Fair Value Adjustments Loans | ' | 1.7 |
Goodwill, Acquired During Period | ' | 1.4 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | ' | '10 years |
Minimum | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Payments to acquire businesses, gross | 6.2 | ' |
Maximum [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Payments to acquire businesses, gross | 6.6 | ' |
Core Deposits | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Finite-lived Intangible Assets Acquired | ' | $2 |
Outstanding Prior To August 1, 2013 | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Shares issued, price per share | $3.60 | ' |
Summary_of_Acquired_Identifiab
Summary of Acquired Identifiable Assets and Liabilities (Detail) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Purchase price: | ' |
Cash and fair value of common stock | $6,300 |
Total purchase price | 6,300 |
Identifiable assets: | ' |
Cash and due from banks | 8,307 |
Investments | 23,423 |
Loans and leases | 38,393 |
Other Real Estate | 644 |
Core deposit intangible | 225 |
Personal and real property | 3,670 |
Deferred tax asset | 2,502 |
Other assets | 305 |
Total assets | 77,469 |
Liabilities and equity: | ' |
Deposits | 59,321 |
Borrowed funds | 13,104 |
Other liabilities | 152 |
Total liabilities | 72,577 |
Net assets acquired | 4,892 |
Goodwill resulting from acquisition | $1,408 |
Outstanding_Principal_Balance_
Outstanding Principal Balance And The Carrying Amount Of These Loans (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Outstanding principal balance | $667,902 | $579,983 |
Business Acquisition | ' | ' |
Outstanding principal balance | 39,085 | ' |
Carrying amount | $37,508 | ' |
Preferred_Stock_and_Warrant_Ad
Preferred Stock and Warrant - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
Class of Stock [Line Items] | ' | ' | ' | ' |
Limitations on payment of dividends on common stock | 'no more than 100% of the aggregate per share dividend | ' | ' | ' |
Dividend declared and paid, common stock | $0.15 | $0.15 | $0.15 | ' |
Preferred stock, issued | 17,123 | ' | ' | 17,123 |
Series CD Preferred Stock | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' |
Preferred stock, annual dividend rate | 2.00% | ' | ' | ' |
Capital purchase liquidation dividend term | '8 years | ' | ' | ' |
Recovered_Sheet1
Earnings Applicable to Common Stockholders - Additional Information (Detail) | 3 Months Ended | |
Jun. 30, 2014 | Mar. 31, 2014 | |
Earnings Per Share Basic [Line Items] | ' | ' |
Shares of restricted stock granted | 6,000 | 57,327 |
Recovered_Sheet2
Earnings Applicable to Common Stockholders (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Earnings Per Share Basic [Line Items] | ' | ' | ' | ' |
Net income available to common stock holders, basic | $1,448,000 | $998,000 | $4,296,000 | $2,823,000 |
Net income available to common stock holders, diluted | $1,448,000 | $998,000 | $4,296,000 | $2,823,000 |
Effect of dilutive shares: | ' | ' | ' | ' |
Weighted average number of shares outstanding, basic | 5,311,876 | 5,102,572 | 5,198,776 | 4,058,432 |
Effect of dilutive shares: Restricted stock grants | 37,810 | 47,945 | 37,810 | 47,945 |
Weighted average number of shares outstanding, diluted | 5,349,686 | 5,150,517 | 5,236,586 | 4,106,377 |
Basic per share | $0.27 | $0.20 | $0.83 | $0.70 |
Diluted per share | $0.27 | $0.19 | $0.82 | $0.69 |
Recovered_Sheet3
Fair Value of Assets and Liabilities - Additional Information (Detail) (USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Assets measured at fair value on a non recurring basis | $5 |
Fair_Value_of_Assets_Measured_
Fair Value of Assets Measured on Recurring Basis (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | $262,651 | $244,051 |
Obligations of U. S. Government Agencies | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 29,837 | 29,962 |
Municipal securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 107,131 | 108,078 |
Mortgage-backed securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 95,716 | 78,187 |
Corporate obligations | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 29,000 | 26,852 |
Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 967 | 972 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 967 | 972 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Obligations of U. S. Government Agencies | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Municipal securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate obligations | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 967 | 972 |
Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 258,877 | 240,281 |
Significant Other Observable Inputs (Level 2) | Obligations of U. S. Government Agencies | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 29,837 | 29,962 |
Significant Other Observable Inputs (Level 2) | Municipal securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 107,131 | 108,078 |
Significant Other Observable Inputs (Level 2) | Mortgage-backed securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 95,716 | 78,187 |
Significant Other Observable Inputs (Level 2) | Corporate obligations | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 26,193 | 24,054 |
Significant Other Observable Inputs (Level 2) | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 2,807 | 2,798 |
Significant Unobservable Inputs (Level 3) | Obligations of U. S. Government Agencies | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Municipal securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Mortgage-backed securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Corporate obligations | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | 2,807 | 2,798 |
Significant Unobservable Inputs (Level 3) | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' |
Securities available-for-sale, at fair value | $0 | $0 |
Reconciliation_of_Activity_for
Reconciliation of Activity for Assets Measured at Fair Value based on Significant Unobservable (Non-market) Information (Detail) (Bank-Issued Trust Preferred Securities, USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Bank-Issued Trust Preferred Securities | ' | ' |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' |
Balance, January 1 | $2,798 | $2,668 |
Transfers into Level 3 | ' | 0 |
Transfers out of Level 3 | ' | 0 |
Other-than-temporary impairment loss included in earnings | ' | 0 |
Unrealized gain included in comprehensive income | 9 | 130 |
Balance at Sep 30, 2014 and December 31, 2013 | $2,807 | $2,798 |
Quantitative_Information_About
Quantitative Information About Recurring Level 3 Fair Value Measurements (Detail) (Fair Value Inut Level 3, USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Fair Value Inut Level 3 | ' | ' |
Quantitative Information About Recurring Fair Value Measurements [Line Items] | ' | ' |
Fair Value | $2,807 | $2,798 |
Valuation Technique | 'Discounted cash flow | 'Discounted cash flow |
Significant Unobservable Inputs | 'Probability of default | 'Probability of default |
Range of Inputs, Minimum | 0.00% | 0.00% |
Range of Inputs, Maximum | 100.00% | 100.00% |
Fair_Value_of_Assets_Measured_1
Fair Value of Assets Measured on Nonrecurring Basis (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ' | ' |
Assets measured at fair value on a nonrecurring basis | $5,000 | ' |
Impaired Loans | ' | ' |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ' | ' |
Assets measured at fair value on a nonrecurring basis | 8,736 | 4,830 |
Other Real Estate Owned | ' | ' |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ' | ' |
Assets measured at fair value on a nonrecurring basis | 4,986 | 4,470 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired Loans | ' | ' |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ' | ' |
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Real Estate Owned | ' | ' |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ' | ' |
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Impaired Loans | ' | ' |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ' | ' |
Assets measured at fair value on a nonrecurring basis | 8,736 | 4,830 |
Significant Other Observable Inputs (Level 2) | Other Real Estate Owned | ' | ' |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ' | ' |
Assets measured at fair value on a nonrecurring basis | 4,986 | 4,470 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | ' | ' |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ' | ' |
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Other Real Estate Owned | ' | ' |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ' | ' |
Assets measured at fair value on a nonrecurring basis | $0 | $0 |
Fair_Values_of_offBalance_Shee
Fair Values of off-Balance Sheet Financial Instruments (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Assets: | ' | ' | ' | ' |
Cash and cash equivalents | $50,447 | $39,252 | $51,764 | $30,877 |
Securities available-for-sale | 262,651 | 244,051 | ' | ' |
Securities held-to-maturity | 8,411 | 8,438 | ' | ' |
Other securities | 5,592 | 5,534 | ' | ' |
Loans, net | 665,218 | 577,575 | ' | ' |
Bank-owned life insurance | 14,359 | 6,593 | ' | ' |
Liabilities: | ' | ' | ' | ' |
Noninterest-bearing deposits | 195,957 | 173,794 | ' | ' |
Interest-bearing deposits | 711,558 | 606,177 | ' | ' |
Subordinated debentures | 10,310 | 10,310 | ' | ' |
FHLB and other borrowings | 49,456 | 52,000 | ' | ' |
Quoted Prices (Level 1) | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Cash and cash equivalents | 50,447 | 39,252 | ' | ' |
Securities available-for-sale | 967 | 972 | ' | ' |
Securities held-to-maturity | 0 | 0 | ' | ' |
Other securities | 0 | 0 | ' | ' |
Loans, net | 0 | 0 | ' | ' |
Bank-owned life insurance | 0 | 0 | ' | ' |
Liabilities: | ' | ' | ' | ' |
Noninterest-bearing deposits | 0 | 0 | ' | ' |
Interest-bearing deposits | 0 | 0 | ' | ' |
Subordinated debentures | 0 | 0 | ' | ' |
FHLB and other borrowings | 0 | 0 | ' | ' |
Significant Other Observable Inputs (Level 2) | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Securities available-for-sale | 258,877 | 240,281 | ' | ' |
Securities held-to-maturity | 9,965 | 9,624 | ' | ' |
Other securities | 5,592 | 5,534 | ' | ' |
Loans, net | 0 | 0 | ' | ' |
Bank-owned life insurance | 14,359 | 6,593 | ' | ' |
Liabilities: | ' | ' | ' | ' |
Noninterest-bearing deposits | 195,957 | 173,794 | ' | ' |
Interest-bearing deposits | 711,192 | 605,737 | ' | ' |
Subordinated debentures | 0 | 0 | ' | ' |
FHLB and other borrowings | 49,456 | 52,000 | ' | ' |
Significant Unobservable Inputs (Level 3) | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Securities available-for-sale | 2,807 | 2,798 | ' | ' |
Securities held-to-maturity | 0 | 0 | ' | ' |
Other securities | 0 | 0 | ' | ' |
Loans, net | 680,603 | 590,866 | ' | ' |
Bank-owned life insurance | 0 | 0 | ' | ' |
Liabilities: | ' | ' | ' | ' |
Noninterest-bearing deposits | 0 | 0 | ' | ' |
Interest-bearing deposits | 0 | 0 | ' | ' |
Subordinated debentures | 10,310 | 10,310 | ' | ' |
FHLB and other borrowings | 0 | 0 | ' | ' |
Estimated Fair Value | ' | ' | ' | ' |
Assets: | ' | ' | ' | ' |
Cash and cash equivalents | 50,447 | 39,252 | ' | ' |
Securities available-for-sale | 262,651 | 244,051 | ' | ' |
Securities held-to-maturity | 9,965 | 9,624 | ' | ' |
Other securities | 5,592 | 5,534 | ' | ' |
Loans, net | 680,603 | 590,866 | ' | ' |
Bank-owned life insurance | 14,359 | 6,593 | ' | ' |
Liabilities: | ' | ' | ' | ' |
Noninterest-bearing deposits | 195,957 | 173,794 | ' | ' |
Interest-bearing deposits | 711,192 | 605,737 | ' | ' |
Subordinated debentures | 10,310 | 10,310 | ' | ' |
FHLB and other borrowings | $49,456 | $52,000 | ' | ' |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Percentage of loan portfolio to earning assets | 68.20% | 67.10% |
Troubled debt restructurings, balance | $5,900,000 | ' |
Impaired receivables for which allowance for credit losses had previously been measured under general allowance for credit losses methodology, allowance for credit losses | 212,000 | ' |
Non- Accrual | 6,032,000 | 3,181,000 |
Financing Receivable | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Non- Accrual | $1,000 | $98,000 |
Composition_of_Loan_Portfolio_
Composition of Loan Portfolio (Detail) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans held for sale | $667,533 | ' | $579,623 |
Total loans | 671,302 | ' | 583,303 |
Allowance for loan losses | -6,084 | -5,999 | -5,728 |
Net loans | 665,218 | ' | 577,575 |
Percent of loan to total loan portfolio | 100.00% | ' | 100.00% |
Mortgage loans held for sale | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans held for sale | 3,769 | ' | 3,680 |
Percent of loan to total loan portfolio | 0.60% | ' | 0.60% |
Commercial, financial and agricultural | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans held for sale | 100,263 | ' | 81,792 |
Percent of loan to total loan portfolio | 14.90% | ' | 14.00% |
Mortgage-commercial | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans held for sale | 217,684 | ' | 202,343 |
Percent of loan to total loan portfolio | 32.40% | ' | 34.70% |
Mortgage-residential | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans held for sale | 248,125 | ' | 212,388 |
Percent of loan to total loan portfolio | 37.00% | ' | 36.40% |
Construction | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans held for sale | 83,908 | ' | 67,287 |
Percent of loan to total loan portfolio | 12.50% | ' | 11.50% |
Consumer and other | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans held for sale | $17,553 | ' | $15,813 |
Percent of loan to total loan portfolio | 2.60% | ' | 2.80% |
Activity_in_Allowance_for_Loan
Activity in Allowance for Loan Losses (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | $5,999 | ' | $5,728 | ' |
Loans charged-off | -426 | ' | -1,234 | ' |
Recoveries on loans previously charged-off | -120 | ' | 324 | ' |
Net charge-offs | -546 | ' | -910 | ' |
Provision for Loan Losses | 631 | 360 | 1,266 | 1,020 |
Balance at end of period | 6,084 | ' | 6,084 | ' |
Real Estate | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans charged-off | -307 | ' | -1,056 | ' |
Recoveries on loans previously charged-off | -146 | ' | 254 | ' |
Installment and Other | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans charged-off | -67 | ' | -126 | ' |
Recoveries on loans previously charged-off | 22 | ' | 58 | ' |
Commercial Financial And Agricultural | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans charged-off | -52 | ' | -52 | ' |
Recoveries on loans previously charged-off | $4 | ' | $12 | ' |
Allocation_of_Allowance_for_Lo
Allocation of Allowance for Loan Losses (Detail) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Allowance for loan losses | $6,084 | $5,999 | $5,728 |
Allowance for loan losses, percentage of total | 100.00% | ' | 100.00% |
Commercial Non Real Estate | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Allowance for loan losses | 687 | ' | 582 |
Allowance for loan losses, percentage of total | 15.30% | ' | 14.00% |
Commercial Real Estate | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Allowance for loan losses | 3,647 | ' | 3,384 |
Allowance for loan losses, percentage of total | 57.70% | ' | 57.20% |
Consumer Real Estate | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Allowance for loan losses | 1,554 | ' | 1,427 |
Allowance for loan losses, percentage of total | 24.80% | ' | 25.40% |
Consumer | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Allowance for loan losses | 173 | ' | 173 |
Allowance for loan losses, percentage of total | 2.20% | ' | 3.40% |
Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Allowance for loan losses | $23 | ' | $162 |
Allowance for loan losses, percentage of total | 0.00% | ' | 0.00% |
Impaired_Loans_Detail
Impaired Loans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Impaired Loans: | ' | ' | ' |
Impaired loans without a valuation allowance | $4,504 | $4,504 | $701 |
Impaired loans with a valuation allowance | 4,162 | 4,162 | 4,001 |
Total impaired loans | 8,666 | 8,666 | 4,702 |
Allowance for loan losses on impaired loans at period end | 818 | 818 | 849 |
Total nonaccrual loans | 6,032 | 6,032 | 3,181 |
Past due 90 days or more and still accruing | 102 | 102 | 159 |
Average investment in impaired loans | $8,429 | $6,458 | $4,007 |
Summary_of_Interest_Recognized
Summary of Interest Recognized and Cash-Basis Interest Earned on Impaired Loans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Average of individually impaired loans during period | $8,429 | $6,458 | $4,007 |
Interest income recognized during impairment | 38 | 129 | ' |
Cash-basis interest income recognized | $38 | $219 | ' |
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses, Broken Down by Portfolio Segment (Detail) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |||
Loans | ' | ' | ' |
Individually evaluated | $8,666 | ' | $4,830 |
Collectively evaluated | 658,867 | ' | 574,793 |
Total | 667,533 | ' | 579,623 |
Allowance for Loan Losses | ' | ' | ' |
Individually evaluated | 818 | ' | 849 |
Collectively evaluated | 5,266 | ' | 4,879 |
Total | 6,084 | 5,999 | 5,728 |
Real Estate | ' | ' | ' |
Loans | ' | ' | ' |
Individually evaluated | 8,369 | ' | 4,709 |
Collectively evaluated | 542,071 | ' | 473,832 |
Total | 550,440 | ' | 478,541 |
Allowance for Loan Losses | ' | ' | ' |
Individually evaluated | 771 | ' | 804 |
Collectively evaluated | 4,430 | ' | 4,007 |
Total | 5,201 | ' | 4,811 |
Installment and Other | ' | ' | ' |
Loans | ' | ' | ' |
Individually evaluated | 51 | ' | 39 |
Collectively evaluated | 14,728 | ' | 19,725 |
Total | 14,779 | ' | 19,764 |
Allowance for Loan Losses | ' | ' | ' |
Individually evaluated | 30 | ' | 35 |
Collectively evaluated | 166 | ' | 300 |
Total | 196 | ' | 335 |
Commercial Financial And Agricultural | ' | ' | ' |
Loans | ' | ' | ' |
Individually evaluated | 246 | ' | 82 |
Collectively evaluated | 102,068 | ' | 81,236 |
Total | 102,314 | ' | 81,318 |
Allowance for Loan Losses | ' | ' | ' |
Individually evaluated | 17 | ' | 10 |
Collectively evaluated | 670 | ' | 572 |
Total | $687 | ' | $582 |
Additional_Detail_of_Impaired_
Additional Detail of Impaired Loans Broken Out According to Class (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans with no a valuation allowance, recorded investment | $4,504 | $4,504 | $701 |
Impaired loans with no related allowance, unpaid balance | 4,504 | 4,504 | 759 |
Impaired loans with no related allowance, average recorded investment YTD | ' | 2,443 | 1,347 |
Impaired loans with no related allowance, interest income recognized YTD | ' | 99 | 17 |
Impaired loans with a related allowance, recorded investment | 4,162 | 4,162 | 4,001 |
Impaired loans with a related allowance, unpaid balance | 4,232 | 4,232 | 4,071 |
Impaired loans with a related allowance | 818 | 818 | 849 |
Impaired loans with a related allowance, average recored investment YTD | ' | 4,015 | 3,244 |
Impaired loans with a related allowance, interest income recognized YTD | ' | 120 | 131 |
Recorded Investment | 8,666 | 8,666 | 4,702 |
Unpaid Balance | 8,736 | 8,736 | 4,830 |
Related Allowance | 818 | 818 | 849 |
Average Recorded Investment YTD | 8,429 | 6,458 | 4,007 |
Interest Income Recognized YTD | ' | 219 | 148 |
Commercial installment | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans with no a valuation allowance, recorded investment | 3 | 3 | 3 |
Impaired loans with no related allowance, unpaid balance | 3 | 3 | 3 |
Impaired loans with no related allowance, average recorded investment YTD | ' | 63 | 45 |
Impaired loans with no related allowance, interest income recognized YTD | ' | 0 | 0 |
Impaired loans with a related allowance, recorded investment | 243 | 243 | 79 |
Impaired loans with a related allowance, unpaid balance | 243 | 243 | 79 |
Impaired loans with a related allowance | 17 | 17 | 10 |
Impaired loans with a related allowance, average recored investment YTD | ' | 177 | 42 |
Impaired loans with a related allowance, interest income recognized YTD | ' | 16 | 6 |
Recorded Investment | 246 | 246 | 82 |
Unpaid Balance | 246 | 246 | 82 |
Related Allowance | 17 | 17 | 10 |
Average Recorded Investment YTD | ' | 240 | 87 |
Interest Income Recognized YTD | ' | 16 | 6 |
Commercial real estate | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans with no a valuation allowance, recorded investment | 4,264 | 4,264 | 353 |
Impaired loans with no related allowance, unpaid balance | 4,264 | 4,264 | 353 |
Impaired loans with no related allowance, average recorded investment YTD | ' | 2,152 | 1,035 |
Impaired loans with no related allowance, interest income recognized YTD | ' | 95 | 8 |
Impaired loans with a related allowance, recorded investment | 2,570 | 2,570 | 2,685 |
Impaired loans with a related allowance, unpaid balance | 2,640 | 2,640 | 2,685 |
Impaired loans with a related allowance | 451 | 451 | 400 |
Impaired loans with a related allowance, average recored investment YTD | ' | 2,379 | 2,147 |
Impaired loans with a related allowance, interest income recognized YTD | ' | 91 | 100 |
Recorded Investment | 6,834 | 6,834 | 3,038 |
Unpaid Balance | 6,904 | 6,904 | 3,038 |
Related Allowance | 451 | 451 | 400 |
Average Recorded Investment YTD | ' | 4,531 | 3,182 |
Interest Income Recognized YTD | ' | 186 | 108 |
Consumer real estate | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans with no a valuation allowance, recorded investment | 216 | 216 | 341 |
Impaired loans with no related allowance, unpaid balance | 216 | 216 | 399 |
Impaired loans with no related allowance, average recorded investment YTD | ' | 217 | 262 |
Impaired loans with no related allowance, interest income recognized YTD | ' | 3 | 9 |
Impaired loans with a related allowance, recorded investment | 1,320 | 1,320 | 1,202 |
Impaired loans with a related allowance, unpaid balance | 1,320 | 1,320 | 1,272 |
Impaired loans with a related allowance | 320 | 320 | 404 |
Impaired loans with a related allowance, average recored investment YTD | ' | 1,425 | 1,019 |
Impaired loans with a related allowance, interest income recognized YTD | ' | 11 | 21 |
Recorded Investment | 1,536 | 1,536 | 1,543 |
Unpaid Balance | 1,536 | 1,536 | 1,671 |
Related Allowance | 320 | 320 | 404 |
Average Recorded Investment YTD | ' | 1,642 | 1,281 |
Interest Income Recognized YTD | ' | 14 | 30 |
Consumer installment | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans with no a valuation allowance, recorded investment | 21 | 21 | 4 |
Impaired loans with no related allowance, unpaid balance | 21 | 21 | 4 |
Impaired loans with no related allowance, average recorded investment YTD | ' | 11 | 5 |
Impaired loans with no related allowance, interest income recognized YTD | ' | 1 | 0 |
Impaired loans with a related allowance, recorded investment | 29 | 29 | 35 |
Impaired loans with a related allowance, unpaid balance | 29 | 29 | 35 |
Impaired loans with a related allowance | 30 | 30 | 35 |
Impaired loans with a related allowance, average recored investment YTD | ' | 34 | 36 |
Impaired loans with a related allowance, interest income recognized YTD | ' | 2 | 4 |
Recorded Investment | 50 | 50 | 39 |
Unpaid Balance | 50 | 50 | 39 |
Related Allowance | 30 | 30 | 35 |
Average Recorded Investment YTD | ' | 45 | 41 |
Interest Income Recognized YTD | ' | $3 | $4 |
Additional_Detail_of_Troubled_
Additional Detail of Troubled Debt Restructurings (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 |
Financing Receivable, Modifications [Line Items] | ' | ' |
Outstanding Recorded Investment Pre-Modification | $200 | $764 |
Outstanding Recorded Investment Post-Modification | 200 | 698 |
Number of Loans | 2 | 4 |
Interest Income Recognized | 2 | 25 |
Commercial installment | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Outstanding Recorded Investment Pre-Modification | 0 | 239 |
Outstanding Recorded Investment Post-Modification | 0 | 175 |
Number of Loans | 0 | 1 |
Interest Income Recognized | 0 | 12 |
Commercial real estate | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Outstanding Recorded Investment Pre-Modification | 200 | 525 |
Outstanding Recorded Investment Post-Modification | 200 | 523 |
Number of Loans | 2 | 3 |
Interest Income Recognized | 2 | 13 |
Consumer real estate | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Outstanding Recorded Investment Pre-Modification | 0 | 0 |
Outstanding Recorded Investment Post-Modification | 0 | 0 |
Number of Loans | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Consumer installment | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Outstanding Recorded Investment Pre-Modification | 0 | 0 |
Outstanding Recorded Investment Post-Modification | 0 | 0 |
Number of Loans | 0 | 0 |
Interest Income Recognized | $0 | $0 |
Summary_of_Loans_Classified_as
Summary of Loans Classified as Past Due in Excess of Thirty Days or More and Loans Classified as Non-Accrual (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past Due 30 to 89 Days | $2,143 | $5,553 |
Past Due 90 Days Or More and Still Accruing | 102 | 159 |
Non- Accrual | 6,032 | 3,181 |
Total Past Due and Non- Accrual | 8,277 | 8,893 |
Total Loans | 667,533 | 579,623 |
Real Estate-construction | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past Due 30 to 89 Days | 10 | 478 |
Past Due 90 Days Or More and Still Accruing | 69 | 0 |
Non- Accrual | 3,025 | 212 |
Total Past Due and Non- Accrual | 3,104 | 690 |
Total Loans | 83,908 | 67,287 |
Real Estate-mortgage | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past Due 30 to 89 Days | 1,494 | 4,696 |
Past Due 90 Days Or More and Still Accruing | 33 | 143 |
Non- Accrual | 1,962 | 2,453 |
Total Past Due and Non- Accrual | 3,489 | 7,292 |
Total Loans | 248,125 | 202,343 |
Real Estate-non farm non residential | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past Due 30 to 89 Days | 450 | 252 |
Past Due 90 Days Or More and Still Accruing | 0 | 0 |
Non- Accrual | 1,028 | 507 |
Total Past Due and Non- Accrual | 1,478 | 759 |
Total Loans | 217,684 | 212,388 |
Commercial | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past Due 30 to 89 Days | 114 | 12 |
Past Due 90 Days Or More and Still Accruing | 0 | 0 |
Non- Accrual | 6 | 9 |
Total Past Due and Non- Accrual | 120 | 21 |
Total Loans | 100,263 | 81,792 |
Consumer | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past Due 30 to 89 Days | 75 | 115 |
Past Due 90 Days Or More and Still Accruing | 0 | 16 |
Non- Accrual | 11 | 0 |
Total Past Due and Non- Accrual | 86 | 131 |
Total Loans | $17,553 | $15,813 |
Risk_Category_of_Loans_by_Clas
Risk Category of Loans by Class of Loans (Excluding Mortgage Loans Held for Sale) (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | $667,902 | $579,983 |
Unearned discount | 369 | 360 |
Loans, net of unearned discount | 667,533 | 579,623 |
Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 649,778 | 562,172 |
Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 700 | 5,149 |
Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 17,424 | 12,662 |
Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 0 | 0 |
Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 385,543 | 331,629 |
Unearned discount | 240 | 236 |
Loans, net of unearned discount | 385,303 | 331,393 |
Commercial Real Estate | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 370,529 | 316,573 |
Commercial Real Estate | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 185 | 4,084 |
Commercial Real Estate | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 14,829 | 10,972 |
Commercial Real Estate | Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 0 | 0 |
Mortgage Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 165,223 | 147,245 |
Unearned discount | 85 | 97 |
Loans, net of unearned discount | 165,138 | 147,148 |
Mortgage Real Estate | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 162,611 | 145,787 |
Mortgage Real Estate | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 192 | 32 |
Mortgage Real Estate | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 2,420 | 1,426 |
Mortgage Real Estate | Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 0 | 0 |
Installment and Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 14,778 | 19,764 |
Unearned discount | 0 | 0 |
Loans, net of unearned discount | 14,778 | 19,764 |
Installment and Other | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 14,687 | 19,725 |
Installment and Other | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 0 | 0 |
Installment and Other | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 91 | 39 |
Installment and Other | Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 0 | 0 |
Commercial,Financial and Agriculture | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 102,358 | 81,345 |
Unearned discount | 44 | 27 |
Loans, net of unearned discount | 102,314 | 81,318 |
Commercial,Financial and Agriculture | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 101,951 | 80,087 |
Commercial,Financial and Agriculture | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 323 | 1,033 |
Commercial,Financial and Agriculture | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | 84 | 225 |
Commercial,Financial and Agriculture | Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and leases receivable, gross | $0 | $0 |
Summary_of_Amortized_Cost_and_
Summary of Amortized Cost and Estimated Fair Value of Available-For-Sale Securities and Held-To-Maturity Securities (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | $261,009 | ' |
Available-for-sale Securities, Gross Unrealized Gains | 4,187 | ' |
Available-for-sale Securities, Gross Unrealized Losses | 2,545 | ' |
Available-for-sale securities, Estimated Fair Value | 262,651 | 244,051 |
Held-to-Maturity, Amortized Cost | 8,411 | ' |
Held-to-maturity Securities, Gross Unrealized Gains | 1,564 | ' |
Held-to-maturity Securities, Gross Unrealized Losses | 10 | ' |
Held-to-Maturity, Estimated Fair Value | 9,965 | ' |
Obligations of U.S. Government Agencies | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 29,789 | ' |
Available-for-sale Securities, Gross Unrealized Gains | 115 | ' |
Available-for-sale Securities, Gross Unrealized Losses | 67 | ' |
Available-for-sale securities, Estimated Fair Value | 29,837 | ' |
Tax-exempt and taxable obligations of states and municipal subdivisions | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 104,661 | ' |
Available-for-sale Securities, Gross Unrealized Gains | 2,758 | ' |
Available-for-sale Securities, Gross Unrealized Losses | 288 | ' |
Available-for-sale securities, Estimated Fair Value | 107,131 | ' |
Held-to-Maturity, Amortized Cost | 6,000 | ' |
Held-to-maturity Securities, Gross Unrealized Gains | 1,564 | ' |
Held-to-maturity Securities, Gross Unrealized Losses | 0 | ' |
Held-to-Maturity, Estimated Fair Value | 7,564 | ' |
Mortgage-backed securities | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 95,205 | ' |
Available-for-sale Securities, Gross Unrealized Gains | 1,066 | ' |
Available-for-sale Securities, Gross Unrealized Losses | 555 | ' |
Available-for-sale securities, Estimated Fair Value | 95,716 | ' |
Held-to-Maturity, Amortized Cost | 2,411 | ' |
Held-to-maturity Securities, Gross Unrealized Gains | 0 | ' |
Held-to-maturity Securities, Gross Unrealized Losses | 10 | ' |
Held-to-Maturity, Estimated Fair Value | 2,401 | ' |
Corporate obligations | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 30,099 | ' |
Available-for-sale Securities, Gross Unrealized Gains | 248 | ' |
Available-for-sale Securities, Gross Unrealized Losses | 1,347 | ' |
Available-for-sale securities, Estimated Fair Value | 29,000 | ' |
Other | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 1,255 | ' |
Available-for-sale Securities, Gross Unrealized Gains | 0 | ' |
Available-for-sale Securities, Gross Unrealized Losses | 288 | ' |
Available-for-sale securities, Estimated Fair Value | $967 | ' |