Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Nov. 30, 2016 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | TRINITY CAPITAL CORP | |
Entity Central Index Key | 99,771 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 6,526,302 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2016 |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 16,734 | $ 13,506 |
Interest-bearing deposits with banks | 65,769 | 151,049 |
Securities purchased under resell agreements | 0 | 24,320 |
Cash and cash equivalents | 82,503 | 188,875 |
Investment securities available for sale, at fair value | 463,470 | 316,040 |
Investment securities held to maturity, at amortized cost (fair value of $8,596 and $8,988 as of June 30, 2016 and December 31, 2015, respectively) | 8,906 | 8,986 |
Non-marketable equity securities | 3,856 | 3,854 |
Loans held for sale | 2,366 | 3,041 |
Loans (net of allowance for loan losses of $17,592 and $17,392 as of June 30, 2016 and December 31, 2015, respectively) | 790,370 | 822,396 |
Mortgage servicing rights ("MSRs"), net | 5,311 | 6,882 |
Bank owned life insurance ("BOLI") | 10,014 | 0 |
Premises and equipment, net | 27,325 | 23,373 |
Other real estate owned ("OREO"), net | 8,653 | 8,346 |
Other assets | 17,596 | 17,192 |
Total assets | 1,420,370 | 1,398,985 |
Deposits: | ||
Noninterest-bearing | 168,666 | 152,888 |
Interest-bearing | 1,095,628 | 1,101,070 |
Total deposits | 1,264,294 | 1,253,958 |
Borrowings | 2,300 | 2,300 |
Junior subordinated debt | 37,116 | 37,116 |
Other liabilities | 31,537 | 26,621 |
Total liabilities | 1,335,247 | 1,319,995 |
Stock owned by Employee Stock Ownership Plan ("ESOP") participants; 672,654 shares and 672,623 shares as of June 30, 2016 and December 31, 2015, respectively, at fair value | 2,689 | 2,690 |
Commitments and contingencies (Note 13) | ||
Stockholders' equity | ||
Common stock, no par; 20,000,000 shares authorized; 6,856,800 shares issued; 6,526,302 shares and 6,491,802 shares outstanding as of June 30, 2016 and December 31, 2015, respectively | 6,836 | 6,836 |
Additional paid-in capital | 394 | 1,153 |
Retained earnings | 43,267 | 44,232 |
Accumulated other comprehensive income (loss) | 4,091 | (2,781) |
Total stockholders' equity before treasury stock | 91,417 | 86,180 |
Treasury stock, at cost; 330,498 shares and 364,998 shares as of June 30, 2016 and December 31, 2015, respectively | (8,983) | (9,880) |
Total stockholders' equity | 82,434 | 76,300 |
Total liabilities and stockholders' equity | 1,420,370 | 1,398,985 |
Series A Preferred Stock [Member] | ||
Stockholders' equity | ||
Preferred stock, no par, 1,000,000 shares authorized | 34,963 | 34,858 |
Series B Preferred Stock [Member] | ||
Stockholders' equity | ||
Preferred stock, no par, 1,000,000 shares authorized | $ 1,866 | $ 1,882 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
ASSETS | ||
Fair Value | $ 8,596 | $ 8,988 |
Net of allowance for loan losses | $ (17,592) | $ (17,392) |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Participants, stock ownership (in shares) | 672,654 | 672,623 |
Stockholders' equity | ||
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, authorized (in shares) | 1,000,000 | 1,000,000 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, issued (in shares) | 6,856,800 | 6,856,800 |
Common stock, outstanding (in shares) | 6,526,302 | 6,491,802 |
Treasury stock, shares (in shares) | 330,498 | 364,998 |
Series A Preferred Stock [Member] | ||
Stockholders' equity | ||
Cumulative perpetual percentage | 9.00% | 9.00% |
Preferred stock, issued (in shares) | 35,539 | 35,539 |
Preferred stock, outstanding (in shares) | 35,539 | 35,539 |
Liquidation value (in dollars per share) | $ 1,000 | $ 1,000 |
Series B Preferred Stock [Member] | ||
Stockholders' equity | ||
Cumulative perpetual percentage | 9.00% | 9.00% |
Preferred stock, issued (in shares) | 1,777 | 1,777 |
Preferred stock, outstanding (in shares) | 1,777 | 1,777 |
Liquidation value (in dollars per share) | $ 1,000 | $ 1,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest income: | ||||
Loans, including fees | $ 9,989 | $ 10,872 | $ 20,119 | $ 21,980 |
Interest and dividends on investment securities: | ||||
Taxable | 1,875 | 823 | 3,606 | 1,762 |
Nontaxable | 131 | 45 | 148 | 90 |
Other interest income | 178 | 215 | 426 | 429 |
Total interest income | 12,173 | 11,955 | 24,299 | 24,261 |
Interest expense: | ||||
Deposits | 591 | 753 | 1,214 | 1,542 |
Borrowings | 37 | 36 | 73 | 212 |
Junior subordinated debt | 730 | 683 | 1,437 | 1,315 |
Total interest expense | 1,358 | 1,472 | 2,724 | 3,069 |
Net interest income | 10,815 | 10,483 | 21,575 | 21,192 |
Provision for loan losses | 0 | 0 | 0 | 0 |
Net interest income after provision for loan losses | 10,815 | 10,483 | 21,575 | 21,192 |
Noninterest income: | ||||
Mortgage loan servicing fees | 540 | 583 | 1,090 | 1,171 |
Trust and investment services fees | 614 | 686 | 1,246 | 1,348 |
Service charges on deposits | 272 | 339 | 566 | 683 |
Net gain on sale of OREO | 585 | 166 | 843 | 429 |
Net gain on sale of loans | 650 | 736 | 1,223 | 1,537 |
Net gain on sale of securities | 54 | 0 | 54 | 1 |
Other fees | 893 | 1,093 | 1,748 | 1,998 |
Other noninterest income | 149 | 201 | 241 | |
Other noninterest loss | (66) | |||
Total noninterest income | 3,757 | 3,537 | 6,971 | 7,408 |
Noninterest expenses: | ||||
Salaries and employee benefits | 6,558 | 6,238 | 12,924 | 12,428 |
Occupancy | 904 | 930 | 1,743 | 1,900 |
Data Processing | 700 | 724 | 1,360 | 1,411 |
Legal, professional and accounting fees | 2,051 | 2,095 | 3,410 | 4,044 |
Amortization on MSR | 754 | 1,925 | 359 | |
Valuation on MSR | (407) | |||
Other noninterest expense | 3,120 | 2,628 | 5,968 | 5,507 |
Total noninterest expenses | 14,087 | 12,208 | 27,330 | 25,649 |
Income before provision for income taxes | 485 | 1,812 | 1,216 | 2,951 |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net income | 485 | 1,812 | 1,216 | 2,951 |
Dividends and discount accretion on preferred shares | 1,059 | 968 | 2,093 | 1,915 |
Net income (loss) available to common stockholders | $ (574) | $ 844 | $ (877) | $ 1,036 |
Basic earnings per common share (in dollars per share) | $ (0.09) | $ 0.13 | $ (0.13) | $ 0.16 |
Diluted income per common share (in dollars per share) | $ (0.09) | $ 0.13 | $ (0.13) | $ 0.16 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) [Abstract] | ||||
Net income | $ 485 | $ 1,812 | $ 1,216 | $ 2,951 |
Other comprehensive income (loss): | ||||
Unrealized gains (losses) on securities available for sale | 3,469 | (1,877) | 6,926 | (1,155) |
Securities gains reclassified into earnings | (54) | 0 | (54) | (1) |
Related income tax benefit (expense) | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | 3,415 | (1,877) | 6,872 | (1,156) |
Total comprehensive income (loss) | $ 3,900 | $ (65) | $ 8,088 | $ 1,795 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Common Stock Issued [Member] | Common Stock Held in Treasury at Cost [Member] | Preferred Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Balance at Dec. 31, 2014 | $ 6,836 | $ (10,888) | $ 36,563 | $ 1,963 | $ 47,084 | $ (555) | $ 81,003 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 2,951 | 2,951 | |||||
Other comprehensive income (loss) | (1,156) | (1,156) | |||||
Dividends declared on preferred shares | (1,915) | (1,915) | |||||
Amortization of preferred stock issuance costs | 89 | (89) | 0 | ||||
Treasury shares issued for board compensation | 943 | (788) | 155 | ||||
Net change in the fair value of stock owned by ESOP participants | (674) | (674) | |||||
Balance at Jun. 30, 2015 | 6,836 | (9,945) | 36,652 | 1,175 | 47,357 | (1,711) | 80,364 |
Balance at Dec. 31, 2015 | 6,836 | (9,880) | 36,740 | 1,153 | 44,232 | (2,781) | 76,300 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 1,216 | 1,216 | |||||
Other comprehensive income (loss) | 6,872 | 6,872 | |||||
Dividends declared on preferred shares | (2,093) | (2,093) | |||||
Amortization of preferred stock issuance costs | 89 | (89) | 0 | ||||
Treasury shares issued for board compensation | 897 | (759) | 138 | ||||
Net change in the fair value of stock owned by ESOP participants | 1 | 1 | |||||
Balance at Jun. 30, 2016 | $ 6,836 | $ (8,983) | $ 36,829 | $ 394 | $ 43,267 | $ 4,091 | $ 82,434 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Cash Flows From Operating Activities | ||
Net income | $ 1,216 | $ 2,951 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 768 | 874 |
Provision for loan losses reversal | 0 | 0 |
Net gain on sale of investment securities | (54) | 1 |
Net gain on sale of loans | (1,223) | (1,537) |
Net gain on sale of OREO | (751) | (403) |
Loss on disposal of premises and equipment | 1 | 0 |
Federal Home Loan Bank stock dividends received | 1 | 2 |
Net amortization of MSRs | 717 | 774 |
Change in mortgage servicing rights valuation allowance | 1,208 | (415) |
Changes in operating assets and liabilities: | ||
Other assets | 2,323 | 2,555 |
Other Liabilities | 2,821 | 2,079 |
Net cash provided by operating activities before origination and gross sales of loans held for sale | 7,027 | 6,881 |
Gross sales of loans held for sale | (33,311) | (42,035) |
Origination of loans held for sale | 34,854 | 45,204 |
Net cash provided by operating activities | 8,570 | 10,050 |
Cash Flows From Investing Activities | ||
Proceeds from maturities and paydowns of investment securities, available for sale | 22,994 | 30,014 |
Proceeds from sale of investment securities, available for sale | 17,716 | 0 |
Purchase of investment securities, available for sale | (183,942) | (92,879) |
Proceeds from maturities and paydowns of investment securities, held to maturity | 69 | 94 |
Proceeds from maturities and paydowns of investment securities, other | 0 | 1,055 |
Purchase bank owned life insurance | (10,000) | 0 |
Proceeds from sale of other real estate owned | 2,358 | 5,619 |
Loans paid down (funded), net | 30,109 | 42,327 |
Purchases of premises and equipment | (4,721) | (68) |
Proceeds from sale of premises and equipment | 0 | 21 |
Net cash used in investing activities | (125,417) | (13,817) |
Cash Flows From Financing Activities | ||
Net increase in demand deposits, NOW accounts and savings accounts | 31,751 | 68,729 |
Net decrease in time deposits | (21,414) | (32,383) |
Repayment of borrowings | 0 | (20,000) |
Issuance of common stock for board compensation | 138 | 155 |
Net cash provided by financing activities | 10,475 | 16,501 |
Net increase (decrease) in cash and cash equivalents | (106,372) | 12,734 |
Cash and cash equivalents: | ||
Beginning of period | 188,875 | 247,398 |
End of period | 82,503 | 260,132 |
Cash payments for: | ||
Interest | 1,377 | 1,532 |
Non-cash investing and financing activities: | ||
Transfers from loans to other real estate owned | 2,885 | 2,058 |
Sales of other real estate owned financed by loans | 971 | 297 |
Dividends declared on preferred stock, not yet paid | 2,093 | 1,915 |
Change in unrealized gain (loss) on investment securities, net of taxes | $ 6,926 | $ (1,155) |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2016 | |
Basis of Presentation [Abstract] | |
Basis of Presentation | Note 1. Basis of Presentation Consolidation: "Consolidation." Basis of presentation: The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for financial information and with the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis, and all such adjustments are of a normal recurring nature. These financial statements and the notes thereto should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2015. Operating results for the three and six-month period ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 or any other period. |
Earnings (Loss) Per Share Data
Earnings (Loss) Per Share Data | 6 Months Ended |
Jun. 30, 2016 | |
Earnings (Loss) Per Share Data [Abstract] | |
Earnings (Loss) Per Share Data | Note 2. Earnings (Loss) Per Share Data Average number of shares used in calculation of basic and diluted earnings (loss) per common share were as follows for the three and six months ended June 30, 2016 and 2015: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands, except share data) Net income $ 485 $ 1,812 $ 1,216 $ 2,951 Dividends and discount accretion on preferred shares 1,059 968 2,093 1,915 Net income (loss) available to common stockholders $ (574 ) $ 844 $ (877 ) $ 1,036 Weighted average common shares issued 6,856,800 6,856,800 6,856,800 6,856,800 LESS: Weighted average treasury stock shares (330,498 ) (369,751 ) (331,256 ) (380,317 ) Weighted average common shares outstanding, net 6,526,302 6,487,049 6,525,544 6,476,483 Basic income per common share $ (0.09 ) $ 0.13 $ (0.13 ) $ 0.16 Dilutive effect of stock-based compensation - - - - Weighted average common shares outstanding including dilutive shares 6,526,302 6,487,049 6,525,544 6,476,483 Diluted income per common share $ (0.09 ) $ 0.13 $ (0.13 ) $ 0.16 Certain restricted stock units were not included in the above calculation, as they would have had an anti-dilutive effect as the exercise price was greater than current market prices. The total number of shares excluded was approximately 62,000 shares and 12,000 shares for three and six months ended June 30, 2016 and 2015, respectively. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2016 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | Note 3. Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ASU") 2016-15 Statement of Cash Flows |
Restrictions on Cash and Due Fr
Restrictions on Cash and Due From Banks | 6 Months Ended |
Jun. 30, 2016 | |
Restrictions on Cash and Due From Banks [Abstract] | |
Restrictions on Cash and Due From Banks | Note 4. Restrictions on Cash and Due From Banks The Bank is required to maintain reserve balances in cash or on deposit with the Board of Governors of the Federal Reserve System ("FRB"), based on a percentage of deposits. As of June 30, 2016 and December 31, 2015, the reserve requirement on deposit at the FRB was $7.1 million and $4.3 million, respectively. The Company maintains some of its cash in bank deposit accounts at financial institutions other than its subsidiaries that, at times, may exceed federally insured limits. The Company may lose all uninsured balances if one of the correspondent banks fails without warning. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2016 | |
Investment Securities [Abstract] | |
Investment Securities | Note 5. Investment Securities Amortized cost and fair values of investment securities are summarized as follows: Securities Available for Sale: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) June 30, 2016 U.S. Government sponsored agency $ 61,863 $ 1,648 $ - $ 63,511 State and political subdivision 32,357 967 - 33,324 Residential mortgage backed security 201,281 965 (1,329 ) 200,917 Residential collateralized mortgage obligation 35,689 392 (6 ) 36,075 Commercial mortgage backed security 87,343 2,140 - 89,483 SBA pools 729 - (6 ) 723 Asset-backed security 40,116 - (679 ) 39,437 Totals $ 459,378 $ 6,112 $ (2,020 ) $ 463,470 December 31, 2015 U.S. Government sponsored agency $ 69,798 $ 98 $ (312 ) $ 69,584 State and political subdivision 3,429 147 - 3,576 Residential mortgage backed security 123,055 43 (1,501 ) 121,597 Residential collateralized mortgage obligation 40,305 139 (523 ) 39,921 Commercial mortgage backed security 41,341 15 (237 ) 41,119 SBA pools 757 - (7 ) 750 Asset-backed security 40,136 - (643 ) 39,493 Totals $ 318,821 $ 442 $ (3,223 ) $ 316,040 Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) June 30, 2016 SBA pools $ 8,906 $ - $ (310 ) $ 8,596 Totals $ 8,906 $ - $ (310 ) $ 8,596 December 31, 2015 SBA pools $ 8,986 $ 2 $ - $ 8,988 Totals $ 8,986 $ 2 $ - $ 8,988 Realized net gains (losses) on sale and call of securities available for sale are summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Gross realized gains $ 54 $ - $ 54 $ 1 Gross realized losses - - - - Net gains $ 54 $ - $ 54 $ 1 There was no tax benefit (provision) related to these net realized gains and losses for the three and six months ended June 30, 2016 and for the three and six months ended June 30, 2015. As of June 30, 2016, the Company's security portfolio consisted of 125 securities, 35 of which were in an unrealized loss position. As of June 30, 2016, $159.9 million in investment securities had unrealized losses with aggregate depreciation of 1.25% of the Company's amortized cost basis. Of these securities, $103.8 million had a continuous unrealized loss position for twelve months or longer with an aggregate depreciation of 1.70%. The unrealized losses relate principally to the general change in interest rates and illiquidity, and not credit quality, that has occurred since the securities purchase dates, and such unrecognized losses or gains will continue to vary with general interest rate level fluctuations in the future. As management does not intend to sell the securities, and it is likely that it will not be required to sell the securities before their anticipated recovery, no declines are deemed to be other than temporary. A summary of unrealized loss information for investment securities, categorized by security type, as of June 30, 2016 and December 31, 2015 was as follows: Less than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Securities Available for Sale: June 30, 2016 U.S. Government sponsored agency $ - $ - $ - $ - $ - $ - State and political subdivision 200 - - - 200 - Residential mortgage backed security 55,631 (219 ) 60,620 (1,110 ) 116,251 (1,329 ) Residential collateralized mortgage obligation 204 (3 ) 3,053 (3 ) 3,257 (6 ) SBA pools - - 716 (6 ) 716 (6 ) Asset-backed security - - 39,437 (679 ) 39,437 (679 ) Totals $ 56,035 $ (222 ) $ 103,826 $ (1,798 ) $ 159,861 $ (2,020 ) December 31, 2015 U.S. Government sponsored agency $ 54,804 $ (312 ) $ - $ - $ 54,804 $ (312 ) State and political subdivision - - - - - - Residential mortgage backed security 54,760 (602 ) 48,752 (899 ) 103,512 (1,501 ) Residential collateralized mortgage obligation 17,237 (185 ) 16,252 (338 ) 33,489 (523 ) Commercial mortgage backed security 26,883 (237 ) - - 26,883 (237 ) SBA pools - - 742 (7 ) 742 (7 ) Asset-backed security 39,493 (643 ) - - 39,493 (643 ) Totals $ 193,177 $ (1,979 ) $ 65,746 $ (1,244 ) $ 258,923 $ (3,223 ) Securities Held to Maturity: June 30, 2016 SBA Pools $ 8,596 $ (310 ) $ - $ - $ 8,596 $ (310 ) Totals $ 8,596 $ (310 ) $ - $ - $ 8,596 $ (310 ) December 31, 2015 None $ - $ - $ - $ - $ - $ - Totals $ - $ - $ - $ - $ - $ - The amortized cost and fair value of investment securities, as of June 30, 2016, by contractual maturity are shown below. Maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Available for Sale Held to Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) One year or less $ 7,721 $ 7,723 $ - $ - One to five years 20,946 21,299 - - Five to ten years 36,321 37,803 - - Over ten years 70,077 70,170 8,906 8,596 Subtotal 135,065 136,995 8,906 8,596 Residential mortgage backed security 201,281 200,917 - - Residential collateralized mortgage obligation 35,689 36,075 - - Commercial mortgage backed security 87,343 89,483 Total $ 459,378 $ 463,470 $ 8,906 $ 8,596 Securities with carrying amounts of $96.2 million and $91.7 million as of June 30, 2016 and December 31, 2015, respectively, were pledged as collateral on public deposits and for other purposes as required or permitted by law. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2016 | |
Loans and Allowance for Loan Losses [Abstract] | |
Loans and Allowance for Loan Losses | Note 6. Loans and Allowance for Loan Losses As of June 30, 2016 and December 31, 2015, loans consisted of: June 30, 2016 December 31, 2015 (In thousands) Commercial $ 87,482 $ 92,995 Commercial real estate 380,958 371,599 Residential real estate 235,404 258,606 Construction real estate 81,739 89,341 Installment and other 23,799 28,730 Total loans 809,382 841,271 Unearned income (1,420 ) (1,483 ) Gross loans 807,962 839,788 Allowance for loan losses (17,592 ) (17,392 ) Net loans $ 790,370 $ 822,396 Loan Origination/Risk Management. Commercial loans: Commercial real estate loans: With respect to loans to developers and builders that are secured by non-owner occupied properties that the Company may originate from time to time, the Company generally requires the borrower to have had an existing relationship with the Company and have a proven record of success. Construction real estate loans: Residential real estate loans: Installment loans: The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company's policies and procedures, which include periodic internal reviews and reports to identify and address risk factors developing within the loan portfolio. The Company engages external independent loan reviews that assess and validate the credit risk program on a periodic basis. Results of these reviews are presented to and reviewed by management and the Board of Directors. The following table presents the contractual aging of the recorded investment in current and past due loans by class of loans as of June 30, 2016 and December 31, 2015, including nonaccrual loans: Current 30-59 Days Past Due 60-89 Days Past Due Loans past due 90 days or more Total Past Due Total June 30, 2016 (In thousands) Commercial $ 84,732 $ 984 $ 71 $ 1,695 $ 2,750 $ 87,482 Commercial real estate 375,065 1,294 444 4,155 5,893 380,958 Residential real estate 230,694 1,337 88 3,285 4,710 235,404 Construction real estate 73,389 733 18 7,599 8,350 81,739 Installment and other 23,698 71 27 3 101 23,799 Total loans $ 787,578 $ 4,419 $ 648 $ 16,737 $ 21,804 $ 809,382 Nonaccrual loan classification $ 5,285 $ 1,855 $ 550 $ 16,737 $ 19,142 $ 24,427 December 31, 2015 Commercial $ 90,839 $ 167 $ 131 $ 1,858 $ 2,156 $ 92,995 Commercial real estate 363,495 1,526 704 5,874 8,104 371,599 Residential real estate 252,568 1,215 606 4,217 6,038 258,606 Construction real estate 80,629 291 85 8,336 8,712 89,341 Installment and other 28,534 110 12 74 196 28,730 Total loans $ 816,065 $ 3,309 $ 1,538 $ 20,359 $ 25,206 $ 841,271 Nonaccrual loan classification $ 6,202 $ 2,702 $ 1,418 $ 20,003 $ 24,123 $ 30,325 The following table presents the recorded investment in nonaccrual loans and loans past due 90 days or more and still accruing interest by class of loans as of June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 Nonaccrual Loans past due 90 days or more and still accruing interest Nonaccrual Loans past due 90 days or more and still accruing interest (In thousands) Commercial $ 1,766 $ - $ 2,268 $ - Commercial real estate 8,945 - 10,737 - Residential real estate 5,962 - 7,821 - Construction real estate 7,680 - 9,353 - Installment and other 74 - 146 - Total $ 24,427 $ - $ 30,325 $ - The Company utilizes an internal asset classification system as a means of reporting problem and potential problem loans. Under the Company's risk rating system, problem and potential problem loans are classified as "Special Mention," "Substandard," and "Doubtful." Substandard loans include those characterized by the likelihood that the Company will sustain some loss if the deficiencies are not corrected. Loans classified as Doubtful have all the weaknesses inherent in those classified as Substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loans that do not currently expose the Company to sufficient risk to warrant classification in one of the aforementioned categories, but possess weaknesses that deserve management's close attention are deemed to be Special Mention. Any time a situation warrants, the risk rating may be reviewed. Loans not meeting the criteria above that are analyzed individually are considered to be pass-rated loans. The following table presents the risk category by class of loans based on the most recent analysis performed aging as of June 30, 2016 and December 31, 2015: Pass Special Mention Substandard Doubtful Total June 30, 2016 (In thousands) Commercial $ 66,885 $ 2,265 $ 18,332 $ - $ 87,482 Commercial real estate 339,554 10,596 30,808 - 380,958 Residential real estate 225,639 1,474 8,291 - 235,404 Construction real estate 67,408 5,640 8,691 - 81,739 Installment and other 23,601 - 198 - 23,799 Total $ 723,087 $ 19,975 $ 66,320 $ - $ 809,382 December 31, 2015 Commercial $ 69,221 $ 3,129 $ 20,645 $ - $ 92,995 Commercial real estate 307,700 19,512 44,387 - 371,599 Residential real estate 245,897 1,622 11,087 - 258,606 Construction real estate 71,864 6,667 10,810 - 89,341 Installment and other 28,378 2 350 - 28,730 Total $ 723,060 $ 30,932 $ 87,279 $ - $ 841,271 The following table shows all loans, including nonaccrual loans, by risk category and aging as of June 30, 2016 and December 31, 2015: Pass Special Mention Substandard Doubtful Total June 30, 2016 (In thousands) Current $ 718,723 $ 19,198 $ 49,657 $ - $ 787,578 Past due 30-59 days 1,416 777 2,226 - 4,419 Past due 60-89 days 98 - 550 - 648 Past due 90 days or more 2,850 - 13,887 - 16,737 Total $ 723,087 $ 19,975 $ 66,320 $ - $ 809,382 December 31, 2015 Current $ 719,752 $ 30,674 $ 65,639 $ - $ 816,065 Past due 30-59 days 349 258 2,702 - 3,309 Past due 60-89 days 109 - 1,429 - 1,538 Past due 90 days or more 2,850 - 17,509 - 20,359 Total $ 723,060 $ 30,932 $ 87,279 $ - $ 841,271 As of June 30, 2016 and December 31, 2015, nonaccrual loans totaling $21.6 million and $27.5 million, respectively, were classified as Substandard. The following table presents loans individually evaluated for impairment by class of loans as of June 30, 2016 and December 31, 2015, showing the unpaid principal balance, the recorded investment of the loan (reflecting any loans with partial charge-offs), and the amount of allowance for loan losses specifically allocated for these impaired loans (if any): June 30, 2016 December 31, 2015 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated (In thousands) With no related allowance recorded: Commercial $ 13,251 $ 9,593 $ 13,611 $ 10,137 Commercial real estate 10,641 9,981 15,872 14,198 Residential real estate 6,667 5,403 9,473 7,450 Construction real estate 8,606 7,133 9,816 8,137 Installment and other 415 344 433 416 With an allowance recorded: Commercial 14,455 14,455 $ 387 14,958 14,956 $ 399 Commercial real estate 8,989 8,989 1,632 11,050 11,050 1,295 Residential real estate 10,366 10,339 2,166 10,759 10,755 2,132 Construction real estate 3,574 3,574 246 3,688 3,688 252 Installment and other 569 569 130 636 636 138 Total $ 77,533 $ 70,380 $ 4,561 $ 90,296 $ 81,423 $ 4,216 The following table presents loans individually evaluated for impairment by class of loans for the three and six months ended June 30, 2016 and 2015, showing the average recorded investment and the interest income recognized: Three Months Ended Six Months Ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Commercial $ 9,679 $ 157 $ 11,178 $ 152 $ 9,820 $ 314 $ 11,356 $ 303 Commercial real estate 10,060 198 20,474 436 10,112 397 20,590 867 Residential real estate 5,452 80 8,508 109 5,497 161 8,797 217 Construction real estate 7,154 87 10,221 113 7,182 173 10,464 225 Installment and other 115 4 543 6 57 8 558 13 With an allowance recorded: Commercial 14,539 197 15,113 206 14,620 395 15,191 410 Commercial real estate 9,019 98 16,561 186 9,049 195 16,621 370 Residential real estate 10,385 97 11,621 111 10,425 193 11,662 221 Construction real estate 3,587 45 4,413 57 3,605 90 4,433 113 Installment and other 575 4 371 7 581 9 247 14 Total $ 70,565 $ 967 $ 99,003 $ 1,383 $ 70,948 $ 1,935 $ 99,919 $ 2,753 If nonaccrual loans outstanding had been current in accordance with their original terms, approximately $382.7 thousand and $1.4 million would have been recorded as loan interest income during the three months ended June 30, 2016 and 2015, respectively, and $765.5 thousand and $2.8 million during the six months ended June 30, 2016 and 2015, respectively. Interest income recognized in the above table was primarily recognized on a cash basis. Recorded investment balances in the above tables exclude accrued interest income and unearned income as such amounts were immaterial. Allowance for Loan Losses: For the three and six months ended June 30, 2016 and 2015, activity in the allowance for loan losses was as follows: Commercial Commercial real estate Residential real estate Construction real estate Installment and other Unallocated Total (In thousands) Three Months Ended June 30, 2016: Beginning balance $ 2,385 $ 6,720 $ 6,154 $ 1,224 $ 797 $ 25 $ 17,305 Provision (benefit) for loan losses (210 ) 1,080 (669 ) (201 ) (2 ) 2 - Charge-offs (93 ) 4 (79 ) (4 ) (64 ) - (236 ) Recoveries 138 115 223 20 27 - 523 Net charge-offs 45 119 144 16 (37 ) - 287 Ending balance $ 2,220 $ 7,919 $ 5,629 $ 1,039 $ 758 $ 27 $ 17,592 Three Months Ended June 30, 2015: Beginning balance $ 3,639 $ 8,183 $ 7,193 $ 2,424 $ 790 $ 110 $ 22,339 Provision (benefit) for loan losses (1,111 ) 451 609 (61 ) 191 (79 ) - Charge-offs (261 ) (88 ) (227 ) (69 ) (141 ) - (786 ) Recoveries 952 324 121 294 36 - 1,727 Net charge-offs 691 236 (106 ) 225 (105 ) - 941 Ending balance $ 3,219 $ 8,870 $ 7,696 $ 2,588 $ 876 $ 31 $ 23,280 Six Months Ended June 30, 2016: Beginning balance $ 2,442 $ 6,751 $ 6,082 $ 1,143 $ 940 $ 34 $ 17,392 Provision (benefit) for loan losses (437 ) 1,039 (310 ) (199 ) (86 ) (7 ) - Charge-offs (275 ) - (402 ) (22 ) (235 ) - (934 ) Recoveries 490 129 259 117 139 - 1,134 Net charge-offs 215 129 (143 ) 95 (96 ) - 200 Ending balance $ 2,220 $ 7,919 $ 5,629 $ 1,039 $ 758 $ 27 $ 17,592 Six Months Ended June 30, 2015: Beginning balance $ 4,031 $ 8,339 $ 7,939 $ 3,323 $ 788 $ 363 $ 24,783 Provision (benefit) for loan losses (1,184 ) 456 808 (21 ) 273 (332 ) - Charge-offs (790 ) (264 ) (1,215 ) (1,031 ) (251 ) - (3,551 ) Recoveries 1,162 339 164 317 66 - 2,048 Net charge-offs 372 75 (1,051 ) (714 ) (185 ) - (1,503 ) Ending balance $ 3,219 $ 8,870 $ 7,696 $ 2,588 $ 876 $ 31 $ 23,280 Allocation of the allowance for loan losses (as well as the total loans in each allocation method), disaggregated on the basis of the Company's impairment methodology, is as follows: Commercial Commercial real estate Residential real estate Construction real estate Installment and other Unallocated Total June 30, 2016 (In thousands) Allowance for loan losses allocated to: Loans individually evaluated for impairment $ 387 $ 1,632 $ 2,166 $ 246 $ 130 $ - $ 4,561 Loans collectively evaluated for impairment 1,833 6,287 3,463 793 628 27 13,031 Ending balance $ 2,220 $ 7,919 $ 5,629 $ 1,039 $ 758 $ 27 $ 17,592 Loans: Individually evaluated for impairment $ 24,048 $ 18,970 $ 15,742 $ 10,707 $ 913 $ - $ 70,380 Collectively evaluated for impairment 63,434 361,988 219,662 71,032 22,886 - 739,002 Total ending loans balance $ 87,482 $ 380,958 $ 235,404 $ 81,739 $ 23,799 $ - $ 809,382 December 31, 2015 Allowance for loan losses allocated to: Loans individually evaluated for impairment $ 399 $ 1,295 $ 2,132 $ 252 $ 138 $ - $ 4,216 Loans collectively evaluated for impairment 2,043 5,456 3,950 891 802 34 13,176 Ending balance $ 2,442 $ 6,751 $ 6,082 $ 1,143 $ 940 $ 34 $ 17,392 Loans: Individually evaluated for impairment $ 25,093 $ 25,248 $ 18,205 $ 11,825 $ 1,052 $ - $ 81,423 Collectively evaluated for impairment 67,902 346,351 240,401 77,516 27,678 - 759,848 Total ending loans balance $ 92,995 $ 371,599 $ 258,606 $ 89,341 $ 28,730 $ - $ 841,271 Troubled Debt Restructurings ("TDRs"): TDRs are defined as those loans where: (1) the borrower is experiencing financial difficulties and (2) the restructuring includes a concession by the Bank to the borrower. The following tables present the loans restructured during the three and six months ended June 30, 2016 and 2015. Three Months Ended June 30, 2016 Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Installment and other 1 $ 43 $ 43 $ - Total 1 $ 43 $ 43 $ - Six Months Ended June 30, 2016 Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Installment and other 1 $ 43 $ 43 $ - Total 1 $ 43 $ 43 $ - Three Months Ended June 30, 2015 Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Installment and other 2 $ 45 $ 45 $ - Total 2 $ 45 $ 45 $ - Six Months Ended June 30, 2015 Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Installment and other 2 $ 45 $ 45 $ - Total 2 $ 45 $ 45 $ - There were no loans modified as TDRs for which there was a payment default within 12 months following the modification during the three months ended June 30, 2016 and 2015. The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the six months ended June 30, 2016 and 2015: Six Months Ended June 30, 2016 Number of Contracts Recorded Investment Specific reserves allocated (Dollars in thousands) Construction real estate 2 $ 807 $ 10 Total 2 $ 807 $ 10 Six Months Ended June 30, 2015 Number of Contracts Recorded Investment Specific reserves allocated (Dollars in thousands) Residential real estate 1 $ 167 $ - Construction real estate 2 407 - Total 3 $ 574 $ - The following table presents total TDRs, both in accrual and nonaccrual status: June 30, 2016 December 31, 2015 Number of contracts Amount Number of contracts Amount (Dollars in thousands) Accrual 155 $ 48,804 $ 165 $ 53,862 Nonaccrual 25 7,699 32 10,641 Total 180 $ 56,503 $ 197 $ 64,503 As of June 30, 2016, the Bank had a total of $249 thousand in commitments to lend additional funds to debtors who also had TDRs. Impairment analyses are prepared on TDRs in conjunction with the normal allowance for loan loss process. TDRs did not require any specific reserves at the three months ended June 30, 2016 and 2015, respectively. TDRs resulted in charge-offs of $146.7 thousand and $1.8 million during the three months ended June 30, 2016 and 2015, respectively. Loans to Executive Officers and Directors: Loan principal balances to executive officers and directors of the Company were $414 thousand and $1.9 million as of June 30, 2016 and December 31, 2015, respectively. Total credit available, including companies in which these individuals have management control or beneficial ownership, was $1.6 million and $1.9 million as of June 30, 2016 and December 31, 2015, respectively. An analysis of the activity related to these loans as of June 30, 2016 and December 31, 2015 is as follows: June 30, 2016 December 31, 2015 (In thousands) Balance, beginning $ 1,933 $ 1,322 Additions - 438 Changes in Board composition - 800 Principal payments and other reductions (1,519 ) (627 ) Balance, ending $ 414 $ 1,933 |
Loan Servicing and Mortgage Ser
Loan Servicing and Mortgage Servicing Rights ("MSRs") | 6 Months Ended |
Jun. 30, 2016 | |
Loan Servicing and Mortgage Servicing Rights ("MSRs") [Abstract] | |
Loan Servicing and Mortgage Servicing Rights ("MSRs") | Note 7. Loan Servicing and Mortgage Servicing Rights ("MSRs") Mortgage loans serviced for others are not included in the accompanying unaudited consolidated balance sheets. The unpaid balance of these loans as of June 30, 2016 and December 31, 2015 is summarized as follows: June 30, 2016 December 31, 2015 (In thousands) Mortgage loan portfolios serviced for: Federal National Mortgage Association ("Fannie Mae") $ 836,457 $ 865,568 Other investors 4 16 Totals $ 836,461 $ 865,584 During the six months ended June 30, 2016 and 2015, substantially all of the loans serviced for others had a contractual servicing fee of 0.25% on the unpaid principal balance. These fees are recorded as "mortgage loan servicing fees" under "noninterest income" on the consolidated statements of operations. Late fees on the loans serviced for others totaled $28 thousand and $69 thousand during the three months ended June 30, 2016 and 2015, respectively, and $64 thousand and $123 thousand for the six months ended June 30, 2016 and 2015, respectively. These fees are included in "noninterest income" on the consolidated statements of operations. Custodial balances on deposit at the Bank in connection with the foregoing loan servicing were approximately $5.8 million and $6.1 million as of June 30, 2016 and December 31, 2015, respectively. There were no custodial balances on deposit with other financial institutions as of June 30, 2016 and December 31, 2015. An analysis of changes in the MSR asset for the three and six months ended June 30, 2016 and 2015 is as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Balance at beginning of period $ 8,614 $ 9,318 $ 8,777 $ 9,470 Servicing rights originated and capitalized 197 205 355 448 Amortization (396 ) (379 ) (717 ) (774 ) Balance at end of period $ 8,415 $ 9,144 $ 8,415 $ 9,144 Below is an analysis of changes in the MSR asset valuation allowance for the three and six months ended June 30, 2016 and 2015: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Balance at beginning of period $ (2,745 ) $ (2,388 ) $ (1,895 ) $ (2,017 ) Aggregate reduction credited to operations 241 786 451 1,384 Aggregate additions credited to operations (600 ) - (1,660 ) (969 ) Balance at end of period $ (3,104 ) $ (1,602 ) $ (3,104 ) $ (1,602 ) The fair values of the MSRs were $5.3 million and $7.5 million for the six months ended June 30, 2016 and 2015, respectively. A valuation allowance is used to recognize impairments of MSRs. An MSR is considered impaired when the fair value of the MSR is below the amortized book value of the MSR. MSRs are accounted for by risk tranche, with the interest rate and term of the underlying loan being the primary strata used in distinguishing the tranches. Each tranche is evaluated separately for impairment. The following assumptions were used to calculate the fair value of the MSRs as of June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 Weighted Average Public Securities Association (PSA) speed 300.03% 213.25% Weighted Average Discount rate 11.20 10.50 Weighted Average Earnings rate 0.98 1.73 |
Other Real Estate Owned ("OREO"
Other Real Estate Owned ("OREO") | 6 Months Ended |
Jun. 30, 2016 | |
Other Real Estate Owned [Abstract] | |
Other Real Estate Owned ("OREO") | Note 8. Other Real Estate Owned ("OREO") OREO consists of property acquired due to foreclosure on real estate loans. As of June 30, 2016 and December 31, 2015, total OREO consisted of: June 30, 2016 December 31, 2015 (In thousands) Commercial real estate $ 1,510 $ 781 Residential real estate 2,465 3,024 Construction real estate 4,678 4,541 Total $ 8,653 $ 8,346 The following table presents a summary of OREO activity for the six months ended June 30, 2016 and 2015: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Balance at beginning of period $ 8,203 $ 12,200 $ 8,346 $ 13,980 Transfers in at fair value 1,342 637 2,885 2,058 Write-down of value - (23 ) - (78 ) Gain (loss) on disposal 538 156 751 403 Cash received upon disposition (1,430 ) (2,226 ) (2,358 ) (5,619 ) Sales financed by loans - (297 ) (971 ) (297 ) Balance at end of period $ 8,653 $ 10,447 $ 8,653 $ 10,447 |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2016 | |
Deposits [Abstract] | |
Deposits | Note 9. Deposits As of June 30, 2016 and December 31, 2015, deposits consisted of: June 30, 2016 December 31, 2015 (In thousands ) Demand deposits, noninterest bearing $ 91,759 $ 75,867 NOW and money market accounts 512,606 511,423 Savings deposits 394,721 380,045 Time certificates, $250,000 or more 33,097 39,148 Other time certificates 232,111 247,475 Total $ 1,264,294 $ 1,253,958 Deposits from executive officers, directors and their affiliates as of June 30, 2016 were $1.0 million and $1.1 million as of December 31, 2015. |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2016 | |
Borrowings [Abstract] | |
Borrowings | Note 10. Borrowings Notes payable to the Federal Home Loan Bank ("FHLB") as of June 30, 2016 and December 31, 2015 were secured by a blanket assignment of mortgage loans or other collateral acceptable to FHLB, and generally had a fixed rate of interest, interest payable monthly and principal due at end of term, unless otherwise noted. As of June 30, 2016, there was $568 thousand in pledged loans under the blanket assignment. Investment securities are held in safekeeping at the FHLB with $2.3 million pledged as collateral for outstanding advances and letters of credit. An additional $115.8 million in advances is available based on the June 30, 2016 value of the remaining unpledged investment securities. The following table details borrowings as of June 30, 2016 and December 31, 2015. Maturity Date Rate Type Principal due June 30, 2016 December 31, 2015 (In thousands) April 27, 2021 6.343 % Fixed At maturity 2,300 2,300 Total $ 2,300 $ 2,300 |
Junior Subordinated Debt
Junior Subordinated Debt | 6 Months Ended |
Jun. 30, 2016 | |
Junior Subordinated Debt [Abstract] | |
Junior Subordinated Debt | Note 11. Junior Subordinated Debt The following table presents details on the junior subordinated debt as of June 30, 2016: Trust I Trust III Trust IV Trust V (Dollars in thousands) Date of Issue March 23, 2000 May 11, 2004 June 29, 2005 September 21, 2006 Amount of trust preferred securities issued $ 10,000 $ 6,000 $ 10,000 $ 10,000 Rate on trust preferred securities 10.875 % 3.3731% (variable) 6.88 % 2.3025% (variable) Maturity March 8, 2030 September 8, 2034 November 23, 2035 December 15, 2036 Date of first redemption March 8, 2010 September 8, 2009 August 23, 2010 September 15, 2011 Common equity securities issued $ 310 $ 186 $ 310 $ 310 Junior subordinated deferrable interest debentures owed $ 10,310 $ 6,186 $ 10,310 $ 10,310 Rate on junior subordinated deferrable interest debentures 10.875 % 3.3731% (variable) 6.88 % 2.3025% (variable) On the dates of issue indicated above, the Trusts, being Delaware statutory business trusts, issued trust preferred securities (the "trust preferred securities") in the amount and at the rate indicated above. These trust preferred securities represent preferred beneficial interests in the assets of the Trusts. The trust preferred securities will mature on the dates indicated, and are redeemable in whole or in part at the option of Trinity, with the approval of the FRB. The Trusts also issued common equity securities to Trinity in the amounts indicated above. The Trusts used the proceeds of the offering of the trust preferred securities to purchase junior subordinated deferrable interest debentures (the "debentures") issued by Trinity, which have terms substantially similar to the trust preferred securities. Trinity has the right to defer payments of interest on the debentures at any time or from time to time for a period of up to ten consecutive semi-annual periods (or twenty consecutive quarterly periods in the case of Trusts with quarterly interest payments) with respect to each interest payment deferred. During a period of deferral, unpaid accrued interest is compounded. Under the terms of the debentures, under certain circumstances of default or if Trinity has elected to defer interest on the debentures, Trinity may not, with certain exceptions, declare or pay any dividends or distributions on its common stock or purchase or acquire any of its common stock. In the second quarter of 2013, Trinity began to defer the interest payments on $37.1 million of junior subordinated debentures that are held by the Trusts that it controls. Interest accrued and unpaid to securities holders total $8.3 million and $6.9 million as of June 30, 2016 and December 31, 2015, respectively. As of December 31, 2016, the Company continued to defer the interest payments on the junior subordinated debentures, with interest accrued but unpaid totaling $9.9 million. As of June 30, 2016 and December 31, 2015, the Company's trust preferred securities, subject to certain limitations, qualified as Tier 1 Capital for regulatory capital purposes. Payments of distributions on the trust preferred securities and payments on redemption of the trust preferred securities are guaranteed by Trinity. Trinity also entered into an agreement as to expenses and liabilities with the Trusts pursuant to which it agreed, on a subordinated basis, to pay any costs, expenses or liabilities of the Trusts other than those arising under the trust preferred securities. The obligations of Trinity under the junior subordinated debentures, the related indenture, the trust agreement establishing the Trusts, the guarantee and the agreement as to expenses and liabilities, in the aggregate, constitute a full and unconditional guarantee by Trinity of the Trusts' obligations under the trust preferred securities. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2016 | |
Income Taxes [Abstract] | |
Income Taxes | Note 12. Income Taxes There was no income tax expense or benefit recorded for the three and six months ended June 30, 2016 and 2015. A deferred tax asset or liability is recognized to reflect the net tax effects of temporary differences between the carrying amounts of existing assets and liabilities for financial reporting purposes and the amounts used for income tax reporting purposes. A valuation allowance is established when it is more likely than not that all or a portion of a net deferred tax asset will not be realized. The Company recorded a loss before income taxes for the years ended December 31, 2011 and 2010. Based on these losses, the Company determined that it was no longer more likely than not that its deferred tax assets of $14.6 million at December 31, 2011 would be utilized. Accordingly, a full valuation allowance was recorded as of December 31, 2011. As of June 30, 2016 and December 31, 2015, the DTA balances were $12.5 million and $15.2 million, respectively but management did not believe that it was more likely than not that the full amount of the deferred tax assets would be utilized in future periods. As of June 30, 2016 and December 31, 2015 the DTA balances continued to have a full valuation allowance. |
Commitments and Off-Balance She
Commitments and Off-Balance Sheet Activities | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Off-Balance Sheet Activities [Abstract] | |
Commitments and Off-Balance Sheet Activities | Note 13. Commitments and Off-Balance-Sheet Activities Credit-related financial instruments: The Company's exposure to credit loss is represented by the contractual amount of these credit-related commitments. The Company follows the same credit policies in making credit-related commitments as it does for on-balance-sheet instruments. As of June 30, 2016 and December 31, 2015, the following credit-related commitments were outstanding: Contract Amount June 30, 2016 December 31, 2015 (In thousands) Unfunded commitments under lines of credit $ 97,596 $ 108,966 Commercial and standby letters of credit 4,874 7,608 Commitments to make loans 8,090 5,105 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The commitments for equity lines of credit may expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if deemed necessary by the Bank, is based on management's credit evaluation of the customer. Unfunded commitments under commercial lines of credit, revolving credit lines and overdraft protection agreements are commitments for possible future extensions of credit to existing customers. Overdraft protection agreements are uncollateralized, but most other unfunded commitments have collateral. These unfunded lines of credit usually do not contain a specified maturity date and may not necessarily be drawn upon to the total extent to which the Bank is committed. FHLB requires a blanket assignment of mortgage loans or other collateral acceptable to the FHLB to secure the Company's short and long-term borrowings from FHLB. The amount of collateral with the FHLB at June 30, 2016 was $118.1 million. Commercial and standby letters of credit are conditional credit-related commitments issued by the Bank to guarantee the performance of a customer to a third party. Those letters of credit are primarily issued to support public and private borrowing arrangements. Essentially all letters of credit issued have expiration dates within one year. The credit risk involved in issuing letters of credit is the same as that involved in extending loans to customers. The Bank generally holds collateral supporting those credit-related commitments, if deemed necessary. In the event the customer does not perform in accordance with the terms of the agreement with the third party, the Bank would be required to fund the credit-related commitment. The maximum potential amount of future payments the Bank could be required to make is represented by the contractual amount shown in the summary above. If the credit-related commitment is funded, the Bank would be entitled to seek recovery from the customer. As of both June 30, 2016 and December 31, 2015, $575 thousand had been recorded as liabilities for the Company's potential losses under these credit-related commitments. The fair value of these credit-related commitments is approximately equal to the fees collected when granting these letters of credit. These fees collected were $11 thousand and $20 thousand as of June 30, 2016 and December 31, 2015, respectively, and are included in "other liabilities" on the consolidated balance sheets. |
Preferred Equity Issues
Preferred Equity Issues | 6 Months Ended |
Jun. 30, 2016 | |
Preferred Equity Issues [Abstract] | |
Preferred Equity Issues | Note 14. Preferred Equity Issues On March 27, 2009, the Company issued two series of preferred stock to the U.S. Treasury under the Capital Purchase Program ("CPP"). Below is a table disclosing the information on the two series: Number of shares issued Dividend rate Liquidation value per share Original cost, in thousands Series A cumulative perpetual preferred shares 35,539 5% for first 5 years; thereafter 9% $ 1,000.00 $ 33,437 Series B cumulative perpetual preferred shares 1,777 9 % 1,000.00 2,102 The difference between the liquidation value of the preferred stock and the original cost is accreted (for the Series B Preferred Stock) or amortized (for the Series A Preferred Stock) over 10 years and is reflected, on a net basis, as an increase to the carrying value of preferred stock and decrease to retained earnings. For each of the six months ended June 30, 2016 and 2015, a net amount of $89 thousand was recorded for amortization. Dividends and discount accretion on the two series of preferred stock reduce the amount of net income available to common stockholders. For each of the three months ended June 30, 2016 and 2015 the total of these amounts was $1.1 million and $968 thousand, respectively. For each of the six months ended June 30, 2016 and 2015 the total of these amounts was $2.1 million and $1.9 million, respectively. On August 10, 2012, the Treasury sold its ownership of the Series A Preferred Stock and the Series B Preferred Stock to third parties. On May 7, 2013, the Company elected to exercise the option to defer the payment of dividends on the preferred stock, as provided by the agreements under which the stock was issued. The amounts of dividends accrued and unpaid as of June 30, 2016 and December 31, 2015 were $10.8 million and $8.7 million, respectively, and are included in "other liabilities" on the consolidated balance sheets. The Company repurchased all of its outstanding Series A Preferred Stock and Series B Preferred stock effective January 25, 2017. Please see Note 18 - Subsequent Events of this Form 10-Q. |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2016 | |
Derivative Financial Instruments [Abstract] | |
Derivative Financial Instruments | Note 15. Derivative Financial Instruments In the normal course of business, the Bank uses a variety of financial instruments to service the financial needs of customers and to reduce its exposure to fluctuations in interest rates. Derivative instruments that the Bank uses as part of its interest rate risk management strategy include mandatory forward delivery commitments and rate lock commitments. As a result of using derivative instruments, the Bank has potential exposure to credit loss in the event of non-performance by the counterparties. The Bank manages this credit risk by spreading the credit risk among counterparties that the Company believes are well established and financially strong and by placing contractual limits on the amount of unsecured credit risk from any single counterparty. The Bank's exposure to credit risk in the event of default by a counterparty is the current cost of replacing the contracts net of any available margins retained by the Bank. However, if the borrower defaults on the commitment the Bank requires the borrower to cover these costs. The Company's derivative instruments outstanding as of June 30, 2016 included commitments to fund loans held for sale. The interest rate lock commitment was valued at fair value at inception. The rate locks will be adjusted for changes in value resulting from changes in market interest rates. The Bank originates single-family residential loans for sale pursuant to programs offered by Fannie Mae. At the time the interest rate is locked in by the borrower, the Bank concurrently enters into a forward loan sale agreement with respect to the sale of such loan at a set price in an effort to manage the interest rate risk inherent in the locked loan commitment. Any change in the fair value of the loan commitment after the borrower locks in the interest rate is substantially offset by the corresponding change in the fair value of the forward loan sale agreement related to such loan. This change is recorded to "other noninterest expenses" in the consolidated statements of operations. The period from the time the borrower locks in the interest rate to the time the Bank funds the loan and sells it to Fannie Mae is generally 60 days. The fair value of each instrument will rise or fall in response to changes in market interest rates subsequent to the dates the interest rate locks and forward loan sale agreements are entered into. In the event that interest rates rise after the Bank enters into an interest rate lock, the fair value of the loan commitment will decline. However, the fair value of the forward loan sale agreement related to such loan commitment generally increases by substantially the same amount, effectively eliminating the Company's interest rate and price risk. As of June 30, 2016, the Company had notional amounts of $8.1 million in contracts with customers and $10.5 million in contracts with Fannie Mae for interest rate lock commitments outstanding related to loans being originated for sale. As of December 31, 2015, the Company had notional amounts of $5.1 million in contracts with customers and $8.1 million in contracts with Fannie Mae for interest rate lock commitments outstanding related to loans being originated for sale. The fair value of interest rate lock commitments was $302 thousand as of June 30, 2016 and $225 thousand as of December 31, 2015. The Company had outstanding loan commitments, excluding undisbursed portion of loans in process and equity lines of credit, of approximately $102.5 million as of June 30, 2016 and $116.6 million as of December 31, 2015. Of these commitments outstanding, the breakdown between fixed rate and adjustable rate loans is as follows: June 30, 2016 December 31, 2015 (In thousands) Fixed rate (ranging from 2.4% to 13.9%) $ 15,851 $ 11,913 Adjustable rate 86,619 104,661 Total $ 102,470 $ 116,574 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note 16. Fair Value Measurements ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. The Company uses valuation techniques that are consistent with the sales comparison approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert expected future amounts, such as cash flows or earnings, to a single present value amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, ASC Topic 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other 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. Level 3: Significant unobservable inputs that reflect a reporting entity's own assumptions about the assumptions that market participants would use in pricing an asset or liability. While management believes the Company's valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally coincides with the Company's monthly and/or quarterly valuation process. Financial Instruments Recorded at Fair Value on a Recurring Basis Securities Available for Sale. Derivatives. The following table summarizes the Company's financial assets and off-balance-sheet instruments measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: June 30, 2016 Total Level 1 Level 2 Level 3 (In thousands) Financial Assets: Investment securities available for sale: U.S. Government sponsored agency $ 63,511 $ - $ 63,511 $ - States and political subdivision 33,324 - 33,324 - Mortgage backed security 200,917 - 200,917 - Collateralized mortgage obligation 36,075 - 36,075 - Commercial mortgage backed security 89,483 - 89,483 - SBA Pools 723 - 723 - Asset backed security 39,437 - 39,437 - Interest rate lock commitments, mandatory forward delivery commitments and pair offs 302 - 302 - Total $ 463,772 $ - $ 463,772 $ - December 31, 2015 Financial Assets: Investment securities available for sale: U.S. Government sponsored agency $ 69,584 $ - $ 69,584 $ - States and political subdivision 3,576 - 3,576 - Mortgage backed security 121,597 - 121,597 - Collateralized mortgage obligation 39,921 - 39,921 - Commercial mortgage backed security 41,119 - 41,119 - SBA Pools 750 - 750 - Asset backed securities 39,493 - 39,493 - Interest rate lock commitments, mandatory forward delivery commitments and pair offs 225 - 225 - Total $ 316,265 $ - $ 316,265 $ - There were no financial assets or financial liabilities measured at fair value on a recurring basis for which the Company used significant unobservable inputs (Level 3) during the periods presented in these financial statements. There were no transfers between the levels used on any asset classes during the three and six months ended June 30, 2016 or the year ended December 31, 2015. Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis The Company may be required, from time to time, to measure certain financial assets and financial liabilities at fair value on a nonrecurring basis in accordance with GAAP. Impaired Loans. In accordance with ASC Topic 820, impaired loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. Collateral values are estimated using Level 3 inputs based on customized discounting criteria. For collateral dependent impaired loans, the Company obtains a current independent appraisal of loan collateral. Other valuation techniques are used as well, including internal valuations, comparable property analysis and contractual sales information. OREO. As of June 30, 2016, impaired loans with a carrying value of $37.9 million had a valuation allowance of $4.6 million. As of December 31, 2015, impaired loans with a carrying value of $40.7 million had a valuation allowance of $4.2 million recorded during 2015. OREO did not have any write-downs during the three months ended June 30, 2016. In the table below, OREO had write-downs during the year ended December 31, 2015 of $361 thousand. The valuation adjustments on OREO have been recorded through earnings. Assets measured at fair value on a nonrecurring basis as of June 30, 2016 and December 31, 2015 are included in the table below: ` Total Level 1 Level 2 Level 3 (In thousands) June 30, 2016 Financial Assets Impaired loans $ 33,365 $ - $ - $ 33,365 MSRs 5,311 - - 5,311 December 31, 2015 Financial Assets Impaired loans $ 36,870 $ - $ - $ 36,870 MSRs 6,905 - - 6,905 Non-Financial Assets OREO 2,231 - - 2,231 See Note 7 for assumptions used to determine the fair value of MSRs. Assumptions used to determine impaired loans and OREO are presented below by classification, measured at fair value and on a nonrecurring basis as of June 30, 2016 and December 31, 2015: Fair value Valuation Technique(s) Unobservable Input(s) Adjustment Range, Weighted Average June 30, 2016 (In thousands) Impaired loans Commercial $ 14,068 Sales comparison Adjustments for differences of comparable sales (0.00)% to (13.92)%, (5.79)% Commercial real estate 7,357 Sales comparison Adjustments for differences of comparable sales (0.00) to (6.53), (5.60) Residential real estate 8,173 Sales comparison Adjustments for differences of comparable sales (3.13) to (8.70), (5.91) Construction real estate 3,328 Sales comparison Adjustments for differences of comparable sales (4.00) to (7.50), (6.17) Installment and other 439 Sales comparison Adjustments for differences of comparable sales (4.13) to (8.00), (6.45) Total impaired loans $ 33,365 December 31, 2015 Impaired loans Commercial $ 14,557 Sales comparison Adjustments for differences of comparable sales (0.00)% to (13.92)%, (5.70)% Commercial real estate 9,755 Sales comparison Adjustments for differences of comparable sales (4.25) to (7.62), (5.65) Residential real estate 8,624 Sales comparison Adjustments for differences of comparable sales (0.00) to (8.70), (5.29) Construction real estate 3,436 Sales comparison Adjustments for differences of comparable sales (4.00) to (7.25), (6.14) Installment and other 498 Sales comparison Adjustments for differences of comparable sales (4.13) to (9.50), (6.52) Total impaired loans $ 36,870 OREO Commercial real estate $ 217 Sales comparison Adjustments for differences of comparable sales (14.55) to (14.55), (14.55) Residential real estate 1,493 Sales comparison Adjustments for differences of comparable sales (8.47) to (91.19) (21.76) Construction real estate 521 Sales comparison Adjustments for differences of comparable sales (10.70) to (67.45) (57.32) Total OREO $ 2,231 Fair Value Assumptions ASC Topic 825 requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The following methods and assumptions were used by the Company in estimating the fair values of its other financial instruments: Cash and due from banks and interest-bearing deposits with banks: Securities purchased under resell agreements: Investment Securities: Non-marketable equity securities: Loans held for sale: Loans: Noninterest-bearing deposits: Interest-bearing deposits: Long-term borrowings Junior subordinated debt Off-balance-sheet instruments Accrued interest: The carrying amount and estimated fair values of other financial instruments as of June 30, 2016 and December 31, 2015 are as follows: Carrying amount Level 1 Level 2 Level 3 Total (In thousands) June 30, 2016 Financial assets: Cash and due from banks $ 16,734 $ 16,734 $ - $ - $ 16,734 Interest-bearing deposits with banks 65,769 65,769 - - 65,769 Securities purchased under resell agreements - - - - - Investments: Available for sale 463,470 - 463,470 - 463,470 Held to maturity 8,906 - 8,596 - 8,596 Non-marketable equity securities 3,856 N/A N/A N/A N/A Loans held for sale 2,366 - - 2,366 2,366 Loans, net 790,370 - - 803,118 803,118 Accrued interest receivable on securities 1,724 - 1,724 - 1,724 Accrued interest receivable on loans 2,424 - - 2,424 2,424 Accrued interest receivable other 1,557 1,557 1,557 Interest rate lock commitments, mandatory forward delivery commitments and pair offs 302 - 302 - 302 Off-balance-sheet instruments: Loan commitments and standby letters of credit $ 11 $ - $ 11 $ - $ 11 Financial liabilities: Non-interest bearing deposits $ 168,666 $ 168,666 $ - $ - $ 168,666 Interest bearing deposits 1,095,628 - 1,096,629 - 1,096,629 Borrowings 2,300 - 2,834 - 2,834 Junior subordinated debt 37,116 - - 20,665 20,665 Accrued interest payable 8,717 - 368 8,349 8,717 December 31, 2015 Financial assets: Cash and due from banks $ 13,506 $ 13,506 $ - $ - $ 13,506 Interest-bearing deposits with banks 151,049 151,049 - - 151,049 Securities purchased under resell agreements 24,320 24,320 - - 24,320 Investments: - - - - - Available for sale 316,040 - 316,040 - 316,040 Held to maturity 8,986 - 8,988 - 8,988 Non-marketable equity securities 3,854 N/A N/A N/A N/A Loans held for sale 3,041 - - 3,041 3,041 Loans, net 822,396 - - 830,555 830,555 Accrued interest receivable on securities 1,028 - 1,028 - 1,028 Accrued interest receivable on loans 3,795 - - 3,795 3,795 Accrued interest receivable other 208 - - 208 208 Interest rate lock commitments, mandatory forward delivery commitments and pair offs 225 - 225 - 225 Off-balance-sheet instruments: Loan commitments and standby letters of credit $ 20 $ - $ 20 $ - $ 20 - - - - - Financial liabilities: - - - - - Non-interest bearing deposits $ 152,888 $ 152,888 $ - $ - $ 152,888 Interest bearing deposits 1,101,070 - 1,099,937 - 1,099,937 Long-term borrowings 2,300 - 2,642 - 2,642 Junior subordinated debt 37,116 - - 20,461 20,461 Accrued interest payable 7,370 - 7,370 - 7,370 |
Regulatory Matters
Regulatory Matters | 6 Months Ended |
Jun. 30, 2016 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | Note 17. Regulatory Matters The payment of dividends by any financial institution is affected by the requirement to maintain adequate capital pursuant to applicable capital adequacy guidelines and regulations, and a financial institution generally is prohibited from paying any dividends if, following payment thereof, the institution would be undercapitalized. The Company is subject to statutory and regulatory restrictions on the payment of dividends and generally cannot pay dividends that exceed its net income or which may weaken its financial health. The Company's primary source of cash is dividends from the Bank. Generally, the Bank is subject to certain restrictions on dividends that it may declare without prior regulatory approval. The Bank cannot pay dividends in any calendar year that, in the aggregate, exceed the Bank's year-to-date net income plus its retained income for the two preceding years. Additionally, the Bank cannot pay dividends that are in excess of the amount that would result in the Bank falling below the minimum required for capital adequacy purposes. Trinity was placed under a Written Agreement by the FRB on September 26, 2013. The Written Agreement requires Trinity to serve as a source of strength to the Bank and prohibits Trinity without written approval of the FRB, to make payments on the Company's junior subordinated debentures, incur or increase any debt, declare and pay dividends and other capital distributions or to repurchase or redeem any shares of Trinity stock. Additionally, the Bank is similarly prohibited from paying dividends to Trinity under the Formal Agreement issued by the Office of Comptroller of the Currency ("OCC") on November 30, 2012 and under the Consent Order, which replaced the Formal Agreement, issued on December 17, 2013. The Consent Order requires that the Bank maintain certain capital ratios and receive approval from the OCC prior to declaring dividends. The Company and the Bank are taking actions to address the provisions of these enforcement actions. The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory—and additional discretionary—actions by regulators that, if undertaken, could have a direct material effect on the Company's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company's and the Bank's assets, liabilities, and certain off-balance-sheet items are calculated under regulatory accounting practices. The Company's and the Bank's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital (as defined) to average assets (as defined). The Company and the Bank met all capital adequacy requirements to which they were subject as of June 30, 2016 and December 31, 2015. The statutory requirements and actual amounts and ratios for the Company and the Bank are presented below: Actual For Capital Adequacy Purposes To be well capitalized under prompt corrective action provisions Minimum Levels Under Order Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) June 30, 2016 Total capital (to risk-weighted assets): Consolidated $ 127,822 14.2159 % $ 71,932 8.00 % N/A N/A N/A N/A Bank only 144,416 16.1336 % 71,610 8.00 % $ 89,513 10.00 % $ 98,464 11.00 % Tier 1 capital (to risk weighted assets): Consolidated 100,756 11.2057 % 53,949 6.00 % N/A N/A N/A N/A Bank only 133,141 14.8740 % 53,708 6.00 % 71,610 8.00 % N/A N/A Common Equity Tier 1 Capital (to risk weighted assets): Consolidated 43,669 4.8567 % 40,462 4.50 % N/A N/A N/A N/A Bank only 133,141 14.8740 % 40,281 4.50 % 58,183 6.50 % N/A N/A Tier 1 leverage (to average assets): Consolidated 100,756 7.1273 % 56,546 4.00 % N/A N/A N/A N/A Bank only 133,141 9.4775 % 56,193 4.00 % 70,241 5.00 % 112,385 8.00 % N/A—not applicable Actual For Capital Adequacy Purposes To be well capitalized under prompt corrective action provisions Minimum Levels Under Order Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2015 Total capital (to risk-weighted assets): Consolidated $ 128,272 14.10 % $ 72,774 8.00 % N/A N/A N/A N/A Bank only 141,486 15.62 % 72,452 8.00 % $ 90,565 10.00 % $ 99,621 11.00 % Tier 1 capital (to risk weighted assets): Consolidated 101,263 11.13 % 54,580 6.00 % N/A N/A N/A N/A Bank only 130,084 14.36 % 54,339 6.00 % 72,452 8.00 % N/A N/A Common Equity Tier 1 Capital (to risk weighted assets): Consolidated 44,080 4.85 % 40,935 4.50 % N/A N/A N/A N/A Bank only 130,084 14.36 % 40,754 4.50 % 58,867 6.50 % N/A N/A Tier 1 leverage (to average assets): Consolidated 101,263 7.11 % 56,943 4.00 % N/A N/A N/A N/A Bank only 130,084 9.18 % 56,685 4.00 % 70,856 5.00 % 113,370 8.00 % N/A - not applicable While the Bank's capital ratios fall into the category of "well-capitalized," the Bank cannot be considered "well-capitalized" due to the requirement to meet and maintain a specific capital level in the Consent Order pursuant to the prompt corrective action rules. The Bank is required to maintain (i) a leverage ratio of Tier 1 Capital to total assets of at least 8%; and (ii) a ratio of Total Capital to total risk-weighted assets of at least 11%. As of June 30, 2016 and December 31, 2015 the Bank was in compliance with these requirements. Trinity and the Bank are also required to maintain a "capital conservation buffer" of 2.5% above the regulatory minimum risk-based capital requirements. The purpose of the conservation buffer is to ensure that banks maintain a buffer of capital that can be used to absorb losses during periods of financial and economic stress. The capital conservation buffer began to be phased in beginning in January 2016 at 0.625% of risk-weighted assets and will increase by that amount each year until fully implemented in January 2019. An institution would be subject to limitations on certain activities, including payment of dividends, share repurchases and discretionary bonuses to executive officers, if its capital level is below the buffered ratio. Factoring in the fully phased-in conservation buffer increases the minimum ratios described above to 7.0% for Common Equity Tier 1, 8.5% for Tier 1 Capital and 10.5% for Total Capital. At June 30, 2016 the Bank's capital conservation buffer was 8.1336% and the consolidated capital conservation buffer was 0.3567%. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 18. Subsequent Events On December 19, 2016, the Company closed its previously announced $52 million private placement with Castle Creek Capital Partners VI, L.P. ("Castle Creek"), Patriot Financial Partners II, L.P., Patriot Financial Partners Parallel II, L.P. (collectively, "Patriot") and Strategic Value Bank Partners, L.P., through its fund Strategic Value Investors LP, pursuant to which the Company issued 2,661,239 shares of its common stock, no par value per share, at $4.75 per share, and 82,862 shares of a new series of convertible perpetual non-voting preferred stock, Series C, no par value per share, at $475.00 per share. The Company indicated that it will use the net proceeds from the private placement to repurchase its outstanding Series A and Series B preferred stock, to pay the deferred interest on its trust preferred securities, and for general corporate purposes. The Company completed the repurchase of all of its outstanding Series A and Series B preferred stock on January 25, 2017. In connection with the private placement, the Company entered into a registration rights agreement (the "Registration Rights Agreement") with each of Castle Creek and Patriot. Pursuant to the terms of the Registration Rights Agreement, the Company has agreed to file a resale registration statement for the purpose of registering the resale of the shares of the Common Stock and Series C preferred stock issued in the private placement and the underlying shares of Common Stock or non-voting Common Stock into which the shares of Series C preferred stock are convertible, as appropriate. The Company is obligated to file the registration statement no later than the third anniversary after the closing of the private placement. Pursuant to the terms of the stock purchase agreement, Castle Creek and Patriot entered into side letter agreements with us. Under the terms of a side letter agreements, each investor is entitled to have one representative appointed to our Board of Directors for so long as such investor, together with its respective affiliates, owns, in the aggregate, 5% or more of all of the outstanding shares of common stock (including shares of Common Stock issuable upon conversion of the Series C preferred stock or non-voting Common Stock). The private placement was previously disclosed by the Company in its Current Report on Form 8-K filed with the Securities and Exchange Commission on September 9, 2016. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2016 | |
Basis of Presentation [Abstract] | |
Consolidation | Consolidation: "Consolidation." |
Basis of presentation | Basis of presentation: The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for financial information and with the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis, and all such adjustments are of a normal recurring nature. These financial statements and the notes thereto should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2015. Operating results for the three and six-month period ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 or any other period. |
Earnings (Loss) Per Share Data
Earnings (Loss) Per Share Data (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Earnings (Loss) Per Share Data [Abstract] | |
Calculation of basic and diluted earnings (loss) per share | Average number of shares used in calculation of basic and diluted earnings (loss) per common share were as follows for the three and six months ended June 30, 2016 and 2015: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands, except share data) Net income $ 485 $ 1,812 $ 1,216 $ 2,951 Dividends and discount accretion on preferred shares 1,059 968 2,093 1,915 Net income (loss) available to common stockholders $ (574 ) $ 844 $ (877 ) $ 1,036 Weighted average common shares issued 6,856,800 6,856,800 6,856,800 6,856,800 LESS: Weighted average treasury stock shares (330,498 ) (369,751 ) (331,256 ) (380,317 ) Weighted average common shares outstanding, net 6,526,302 6,487,049 6,525,544 6,476,483 Basic income per common share $ (0.09 ) $ 0.13 $ (0.13 ) $ 0.16 Dilutive effect of stock-based compensation - - - - Weighted average common shares outstanding including dilutive shares 6,526,302 6,487,049 6,525,544 6,476,483 Diluted income per common share $ (0.09 ) $ 0.13 $ (0.13 ) $ 0.16 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Investment Securities [Abstract] | |
Amortized cost and fair values of investment securities | Amortized cost and fair values of investment securities are summarized as follows: Securities Available for Sale: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) June 30, 2016 U.S. Government sponsored agency $ 61,863 $ 1,648 $ - $ 63,511 State and political subdivision 32,357 967 - 33,324 Residential mortgage backed security 201,281 965 (1,329 ) 200,917 Residential collateralized mortgage obligation 35,689 392 (6 ) 36,075 Commercial mortgage backed security 87,343 2,140 - 89,483 SBA pools 729 - (6 ) 723 Asset-backed security 40,116 - (679 ) 39,437 Totals $ 459,378 $ 6,112 $ (2,020 ) $ 463,470 December 31, 2015 U.S. Government sponsored agency $ 69,798 $ 98 $ (312 ) $ 69,584 State and political subdivision 3,429 147 - 3,576 Residential mortgage backed security 123,055 43 (1,501 ) 121,597 Residential collateralized mortgage obligation 40,305 139 (523 ) 39,921 Commercial mortgage backed security 41,341 15 (237 ) 41,119 SBA pools 757 - (7 ) 750 Asset-backed security 40,136 - (643 ) 39,493 Totals $ 318,821 $ 442 $ (3,223 ) $ 316,040 Securities Held to Maturity Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) June 30, 2016 SBA pools $ 8,906 $ - $ (310 ) $ 8,596 Totals $ 8,906 $ - $ (310 ) $ 8,596 December 31, 2015 SBA pools $ 8,986 $ 2 $ - $ 8,988 Totals $ 8,986 $ 2 $ - $ 8,988 |
Realized net gains (losses) on sale and call of securities available for sale | Realized net gains (losses) on sale and call of securities available for sale are summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Gross realized gains $ 54 $ - $ 54 $ 1 Gross realized losses - - - - Net gains $ 54 $ - $ 54 $ 1 |
Unrealized loss information for investment securities | A summary of unrealized loss information for investment securities, categorized by security type, as of June 30, 2016 and December 31, 2015 was as follows: Less than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) Securities Available for Sale: June 30, 2016 U.S. Government sponsored agency $ - $ - $ - $ - $ - $ - State and political subdivision 200 - - - 200 - Residential mortgage backed security 55,631 (219 ) 60,620 (1,110 ) 116,251 (1,329 ) Residential collateralized mortgage obligation 204 (3 ) 3,053 (3 ) 3,257 (6 ) SBA pools - - 716 (6 ) 716 (6 ) Asset-backed security - - 39,437 (679 ) 39,437 (679 ) Totals $ 56,035 $ (222 ) $ 103,826 $ (1,798 ) $ 159,861 $ (2,020 ) December 31, 2015 U.S. Government sponsored agency $ 54,804 $ (312 ) $ - $ - $ 54,804 $ (312 ) State and political subdivision - - - - - - Residential mortgage backed security 54,760 (602 ) 48,752 (899 ) 103,512 (1,501 ) Residential collateralized mortgage obligation 17,237 (185 ) 16,252 (338 ) 33,489 (523 ) Commercial mortgage backed security 26,883 (237 ) - - 26,883 (237 ) SBA pools - - 742 (7 ) 742 (7 ) Asset-backed security 39,493 (643 ) - - 39,493 (643 ) Totals $ 193,177 $ (1,979 ) $ 65,746 $ (1,244 ) $ 258,923 $ (3,223 ) Securities Held to Maturity: June 30, 2016 SBA Pools $ 8,596 $ (310 ) $ - $ - $ 8,596 $ (310 ) Totals $ 8,596 $ (310 ) $ - $ - $ 8,596 $ (310 ) December 31, 2015 None $ - $ - $ - $ - $ - $ - Totals $ - $ - $ - $ - $ - $ - |
Amortized cost and fair value of investment securities, by contractual maturity | The amortized cost and fair value of investment securities, as of June 30, 2016, by contractual maturity are shown below. Maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Available for Sale Held to Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) One year or less $ 7,721 $ 7,723 $ - $ - One to five years 20,946 21,299 - - Five to ten years 36,321 37,803 - - Over ten years 70,077 70,170 8,906 8,596 Subtotal 135,065 136,995 8,906 8,596 Residential mortgage backed security 201,281 200,917 - - Residential collateralized mortgage obligation 35,689 36,075 - - Commercial mortgage backed security 87,343 89,483 Total $ 459,378 $ 463,470 $ 8,906 $ 8,596 |
Loans and Allowance for Loan 29
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Loans and Allowance for Loan Losses [Abstract] | |
Components of loans | As of June 30, 2016 and December 31, 2015, loans consisted of: June 30, 2016 December 31, 2015 (In thousands) Commercial $ 87,482 $ 92,995 Commercial real estate 380,958 371,599 Residential real estate 235,404 258,606 Construction real estate 81,739 89,341 Installment and other 23,799 28,730 Total loans 809,382 841,271 Unearned income (1,420 ) (1,483 ) Gross loans 807,962 839,788 Allowance for loan losses (17,592 ) (17,392 ) Net loans $ 790,370 $ 822,396 |
Contractual aging of the recorded investment in current and past due loans by class of loans | The following table presents the contractual aging of the recorded investment in current and past due loans by class of loans as of June 30, 2016 and December 31, 2015, including nonaccrual loans: Current 30-59 Days Past Due 60-89 Days Past Due Loans past due 90 days or more Total Past Due Total June 30, 2016 (In thousands) Commercial $ 84,732 $ 984 $ 71 $ 1,695 $ 2,750 $ 87,482 Commercial real estate 375,065 1,294 444 4,155 5,893 380,958 Residential real estate 230,694 1,337 88 3,285 4,710 235,404 Construction real estate 73,389 733 18 7,599 8,350 81,739 Installment and other 23,698 71 27 3 101 23,799 Total loans $ 787,578 $ 4,419 $ 648 $ 16,737 $ 21,804 $ 809,382 Nonaccrual loan classification $ 5,285 $ 1,855 $ 550 $ 16,737 $ 19,142 $ 24,427 December 31, 2015 Commercial $ 90,839 $ 167 $ 131 $ 1,858 $ 2,156 $ 92,995 Commercial real estate 363,495 1,526 704 5,874 8,104 371,599 Residential real estate 252,568 1,215 606 4,217 6,038 258,606 Construction real estate 80,629 291 85 8,336 8,712 89,341 Installment and other 28,534 110 12 74 196 28,730 Total loans $ 816,065 $ 3,309 $ 1,538 $ 20,359 $ 25,206 $ 841,271 Nonaccrual loan classification $ 6,202 $ 2,702 $ 1,418 $ 20,003 $ 24,123 $ 30,325 The following table presents the recorded investment in nonaccrual loans and loans past due 90 days or more and still accruing interest by class of loans as of June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 Nonaccrual Loans past due 90 days or more and still accruing interest Nonaccrual Loans past due 90 days or more and still accruing interest (In thousands) Commercial $ 1,766 $ - $ 2,268 $ - Commercial real estate 8,945 - 10,737 - Residential real estate 5,962 - 7,821 - Construction real estate 7,680 - 9,353 - Installment and other 74 - 146 - Total $ 24,427 $ - $ 30,325 $ - |
Risk category of loans by class of loans | The following table presents the risk category by class of loans based on the most recent analysis performed aging as of June 30, 2016 and December 31, 2015: Pass Special Mention Substandard Doubtful Total June 30, 2016 (In thousands) Commercial $ 66,885 $ 2,265 $ 18,332 $ - $ 87,482 Commercial real estate 339,554 10,596 30,808 - 380,958 Residential real estate 225,639 1,474 8,291 - 235,404 Construction real estate 67,408 5,640 8,691 - 81,739 Installment and other 23,601 - 198 - 23,799 Total $ 723,087 $ 19,975 $ 66,320 $ - $ 809,382 December 31, 2015 Commercial $ 69,221 $ 3,129 $ 20,645 $ - $ 92,995 Commercial real estate 307,700 19,512 44,387 - 371,599 Residential real estate 245,897 1,622 11,087 - 258,606 Construction real estate 71,864 6,667 10,810 - 89,341 Installment and other 28,378 2 350 - 28,730 Total $ 723,060 $ 30,932 $ 87,279 $ - $ 841,271 The following table shows all loans, including nonaccrual loans, by risk category and aging as of June 30, 2016 and December 31, 2015: Pass Special Mention Substandard Doubtful Total June 30, 2016 (In thousands) Current $ 718,723 $ 19,198 $ 49,657 $ - $ 787,578 Past due 30-59 days 1,416 777 2,226 - 4,419 Past due 60-89 days 98 - 550 - 648 Past due 90 days or more 2,850 - 13,887 - 16,737 Total $ 723,087 $ 19,975 $ 66,320 $ - $ 809,382 December 31, 2015 Current $ 719,752 $ 30,674 $ 65,639 $ - $ 816,065 Past due 30-59 days 349 258 2,702 - 3,309 Past due 60-89 days 109 - 1,429 - 1,538 Past due 90 days or more 2,850 - 17,509 - 20,359 Total $ 723,060 $ 30,932 $ 87,279 $ - $ 841,271 |
Loans and average loans individually evaluated for impairment by class of loans | The following table presents loans individually evaluated for impairment by class of loans as of June 30, 2016 and December 31, 2015, showing the unpaid principal balance, the recorded investment of the loan (reflecting any loans with partial charge-offs), and the amount of allowance for loan losses specifically allocated for these impaired loans (if any): June 30, 2016 December 31, 2015 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated (In thousands) With no related allowance recorded: Commercial $ 13,251 $ 9,593 $ 13,611 $ 10,137 Commercial real estate 10,641 9,981 15,872 14,198 Residential real estate 6,667 5,403 9,473 7,450 Construction real estate 8,606 7,133 9,816 8,137 Installment and other 415 344 433 416 With an allowance recorded: Commercial 14,455 14,455 $ 387 14,958 14,956 $ 399 Commercial real estate 8,989 8,989 1,632 11,050 11,050 1,295 Residential real estate 10,366 10,339 2,166 10,759 10,755 2,132 Construction real estate 3,574 3,574 246 3,688 3,688 252 Installment and other 569 569 130 636 636 138 Total $ 77,533 $ 70,380 $ 4,561 $ 90,296 $ 81,423 $ 4,216 The following table presents loans individually evaluated for impairment by class of loans for the three and six months ended June 30, 2016 and 2015, showing the average recorded investment and the interest income recognized: Three Months Ended Six Months Ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Commercial $ 9,679 $ 157 $ 11,178 $ 152 $ 9,820 $ 314 $ 11,356 $ 303 Commercial real estate 10,060 198 20,474 436 10,112 397 20,590 867 Residential real estate 5,452 80 8,508 109 5,497 161 8,797 217 Construction real estate 7,154 87 10,221 113 7,182 173 10,464 225 Installment and other 115 4 543 6 57 8 558 13 With an allowance recorded: Commercial 14,539 197 15,113 206 14,620 395 15,191 410 Commercial real estate 9,019 98 16,561 186 9,049 195 16,621 370 Residential real estate 10,385 97 11,621 111 10,425 193 11,662 221 Construction real estate 3,587 45 4,413 57 3,605 90 4,433 113 Installment and other 575 4 371 7 581 9 247 14 Total $ 70,565 $ 967 $ 99,003 $ 1,383 $ 70,948 $ 1,935 $ 99,919 $ 2,753 |
Activity and allocation of allowance for loan losses | For the three and six months ended June 30, 2016 and 2015, activity in the allowance for loan losses was as follows: Commercial Commercial real estate Residential real estate Construction real estate Installment and other Unallocated Total (In thousands) Three Months Ended June 30, 2016: Beginning balance $ 2,385 $ 6,720 $ 6,154 $ 1,224 $ 797 $ 25 $ 17,305 Provision (benefit) for loan losses (210 ) 1,080 (669 ) (201 ) (2 ) 2 - Charge-offs (93 ) 4 (79 ) (4 ) (64 ) - (236 ) Recoveries 138 115 223 20 27 - 523 Net charge-offs 45 119 144 16 (37 ) - 287 Ending balance $ 2,220 $ 7,919 $ 5,629 $ 1,039 $ 758 $ 27 $ 17,592 Three Months Ended June 30, 2015: Beginning balance $ 3,639 $ 8,183 $ 7,193 $ 2,424 $ 790 $ 110 $ 22,339 Provision (benefit) for loan losses (1,111 ) 451 609 (61 ) 191 (79 ) - Charge-offs (261 ) (88 ) (227 ) (69 ) (141 ) - (786 ) Recoveries 952 324 121 294 36 - 1,727 Net charge-offs 691 236 (106 ) 225 (105 ) - 941 Ending balance $ 3,219 $ 8,870 $ 7,696 $ 2,588 $ 876 $ 31 $ 23,280 Six Months Ended June 30, 2016: Beginning balance $ 2,442 $ 6,751 $ 6,082 $ 1,143 $ 940 $ 34 $ 17,392 Provision (benefit) for loan losses (437 ) 1,039 (310 ) (199 ) (86 ) (7 ) - Charge-offs (275 ) - (402 ) (22 ) (235 ) - (934 ) Recoveries 490 129 259 117 139 - 1,134 Net charge-offs 215 129 (143 ) 95 (96 ) - 200 Ending balance $ 2,220 $ 7,919 $ 5,629 $ 1,039 $ 758 $ 27 $ 17,592 Six Months Ended June 30, 2015: Beginning balance $ 4,031 $ 8,339 $ 7,939 $ 3,323 $ 788 $ 363 $ 24,783 Provision (benefit) for loan losses (1,184 ) 456 808 (21 ) 273 (332 ) - Charge-offs (790 ) (264 ) (1,215 ) (1,031 ) (251 ) - (3,551 ) Recoveries 1,162 339 164 317 66 - 2,048 Net charge-offs 372 75 (1,051 ) (714 ) (185 ) - (1,503 ) Ending balance $ 3,219 $ 8,870 $ 7,696 $ 2,588 $ 876 $ 31 $ 23,280 Allocation of the allowance for loan losses (as well as the total loans in each allocation method), disaggregated on the basis of the Company's impairment methodology, is as follows: Commercial Commercial real estate Residential real estate Construction real estate Installment and other Unallocated Total June 30, 2016 (In thousands) Allowance for loan losses allocated to: Loans individually evaluated for impairment $ 387 $ 1,632 $ 2,166 $ 246 $ 130 $ - $ 4,561 Loans collectively evaluated for impairment 1,833 6,287 3,463 793 628 27 13,031 Ending balance $ 2,220 $ 7,919 $ 5,629 $ 1,039 $ 758 $ 27 $ 17,592 Loans: Individually evaluated for impairment $ 24,048 $ 18,970 $ 15,742 $ 10,707 $ 913 $ - $ 70,380 Collectively evaluated for impairment 63,434 361,988 219,662 71,032 22,886 - 739,002 Total ending loans balance $ 87,482 $ 380,958 $ 235,404 $ 81,739 $ 23,799 $ - $ 809,382 December 31, 2015 Allowance for loan losses allocated to: Loans individually evaluated for impairment $ 399 $ 1,295 $ 2,132 $ 252 $ 138 $ - $ 4,216 Loans collectively evaluated for impairment 2,043 5,456 3,950 891 802 34 13,176 Ending balance $ 2,442 $ 6,751 $ 6,082 $ 1,143 $ 940 $ 34 $ 17,392 Loans: Individually evaluated for impairment $ 25,093 $ 25,248 $ 18,205 $ 11,825 $ 1,052 $ - $ 81,423 Collectively evaluated for impairment 67,902 346,351 240,401 77,516 27,678 - 759,848 Total ending loans balance $ 92,995 $ 371,599 $ 258,606 $ 89,341 $ 28,730 $ - $ 841,271 |
Troubled debt restructurings on financing receivables | The following tables present the loans restructured during the three and six months ended June 30, 2016 and 2015. Three Months Ended June 30, 2016 Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Installment and other 1 $ 43 $ 43 $ - Total 1 $ 43 $ 43 $ - Six Months Ended June 30, 2016 Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Installment and other 1 $ 43 $ 43 $ - Total 1 $ 43 $ 43 $ - Three Months Ended June 30, 2015 Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Installment and other 2 $ 45 $ 45 $ - Total 2 $ 45 $ 45 $ - Six Months Ended June 30, 2015 Number of Contracts Pre- Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific reserves allocated (Dollars in thousands) Installment and other 2 $ 45 $ 45 $ - Total 2 $ 45 $ 45 $ - There were no loans modified as TDRs for which there was a payment default within 12 months following the modification during the three months ended June 30, 2016 and 2015. The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the six months ended June 30, 2016 and 2015: Six Months Ended June 30, 2016 Number of Contracts Recorded Investment Specific reserves allocated (Dollars in thousands) Construction real estate 2 $ 807 $ 10 Total 2 $ 807 $ 10 Six Months Ended June 30, 2015 Number of Contracts Recorded Investment Specific reserves allocated (Dollars in thousands) Residential real estate 1 $ 167 $ - Construction real estate 2 407 - Total 3 $ 574 $ - |
Total TDRs in accrual and nonaccrual status | The following table presents total TDRs, both in accrual and nonaccrual status: June 30, 2016 December 31, 2015 Number of contracts Amount Number of contracts Amount (Dollars in thousands) Accrual 155 $ 48,804 $ 165 $ 53,862 Nonaccrual 25 7,699 32 10,641 Total 180 $ 56,503 $ 197 $ 64,503 |
Schedule of related parties loan | An analysis of the activity related to these loans as of June 30, 2016 and December 31, 2015 is as follows: June 30, 2016 December 31, 2015 (In thousands) Balance, beginning $ 1,933 $ 1,322 Additions - 438 Changes in Board composition - 800 Principal payments and other reductions (1,519 ) (627 ) Balance, ending $ 414 $ 1,933 |
Loan Servicing and Mortgage S30
Loan Servicing and Mortgage Servicing Rights ("MSRs") (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Loan Servicing and Mortgage Servicing Rights ("MSRs") [Abstract] | |
Unpaid balance of mortgage loan serviced for others | The unpaid balance of these loans as of June 30, 2016 and December 31, 2015 is summarized as follows: June 30, 2016 December 31, 2015 (In thousands) Mortgage loan portfolios serviced for: Federal National Mortgage Association ("Fannie Mae") $ 836,457 $ 865,568 Other investors 4 16 Totals $ 836,461 $ 865,584 |
Analysis of changes in mortgage servicing rights assets | An analysis of changes in the MSR asset for the three and six months ended June 30, 2016 and 2015 is as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Balance at beginning of period $ 8,614 $ 9,318 $ 8,777 $ 9,470 Servicing rights originated and capitalized 197 205 355 448 Amortization (396 ) (379 ) (717 ) (774 ) Balance at end of period $ 8,415 $ 9,144 $ 8,415 $ 9,144 |
Analysis of changes in the mortgage servicing right assets valuation allowance | Below is an analysis of changes in the MSR asset valuation allowance for the three and six months ended June 30, 2016 and 2015: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Balance at beginning of period $ (2,745 ) $ (2,388 ) $ (1,895 ) $ (2,017 ) Aggregate reduction credited to operations 241 786 451 1,384 Aggregate additions credited to operations (600 ) - (1,660 ) (969 ) Balance at end of period $ (3,104 ) $ (1,602 ) $ (3,104 ) $ (1,602 ) |
Assumptions used to calculate the market value of mortgage servicing right | The following assumptions were used to calculate the fair value of the MSRs as of June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 Weighted Average Public Securities Association (PSA) speed 300.03% 213.25% Weighted Average Discount rate 11.20 10.50 Weighted Average Earnings rate 0.98 1.73 |
Other Real Estate Owned ("ORE31
Other Real Estate Owned ("OREO") (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Other Real Estate Owned [Abstract] | |
Other real estate owned | OREO consists of property acquired due to foreclosure on real estate loans. As of June 30, 2016 and December 31, 2015, total OREO consisted of: June 30, 2016 December 31, 2015 (In thousands) Commercial real estate $ 1,510 $ 781 Residential real estate 2,465 3,024 Construction real estate 4,678 4,541 Total $ 8,653 $ 8,346 |
Summary of OREO activity | The following table presents a summary of OREO activity for the six months ended June 30, 2016 and 2015: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In thousands) Balance at beginning of period $ 8,203 $ 12,200 $ 8,346 $ 13,980 Transfers in at fair value 1,342 637 2,885 2,058 Write-down of value - (23 ) - (78 ) Gain (loss) on disposal 538 156 751 403 Cash received upon disposition (1,430 ) (2,226 ) (2,358 ) (5,619 ) Sales financed by loans - (297 ) (971 ) (297 ) Balance at end of period $ 8,653 $ 10,447 $ 8,653 $ 10,447 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Deposits [Abstract] | |
Deposits | As of June 30, 2016 and December 31, 2015, deposits consisted of: June 30, 2016 December 31, 2015 (In thousands ) Demand deposits, noninterest bearing $ 91,759 $ 75,867 NOW and money market accounts 512,606 511,423 Savings deposits 394,721 380,045 Time certificates, $250,000 or more 33,097 39,148 Other time certificates 232,111 247,475 Total $ 1,264,294 $ 1,253,958 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Borrowings [Abstract] | |
Schedule of borrowings | The following table details borrowings as of June 30, 2016 and December 31, 2015. Maturity Date Rate Type Principal due June 30, 2016 December 31, 2015 (In thousands) April 27, 2021 6.343 % Fixed At maturity 2,300 2,300 Total $ 2,300 $ 2,300 |
Junior Subordinated Debt (Table
Junior Subordinated Debt (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Junior Subordinated Debt [Abstract] | |
Junior subordinated debt owed to unconsolidated trust | The following table presents details on the junior subordinated debt as of June 30, 2016: Trust I Trust III Trust IV Trust V (Dollars in thousands) Date of Issue March 23, 2000 May 11, 2004 June 29, 2005 September 21, 2006 Amount of trust preferred securities issued $ 10,000 $ 6,000 $ 10,000 $ 10,000 Rate on trust preferred securities 10.875 % 3.3731% (variable) 6.88 % 2.3025% (variable) Maturity March 8, 2030 September 8, 2034 November 23, 2035 December 15, 2036 Date of first redemption March 8, 2010 September 8, 2009 August 23, 2010 September 15, 2011 Common equity securities issued $ 310 $ 186 $ 310 $ 310 Junior subordinated deferrable interest debentures owed $ 10,310 $ 6,186 $ 10,310 $ 10,310 Rate on junior subordinated deferrable interest debentures 10.875 % 3.3731% (variable) 6.88 % 2.3025% (variable) |
Commitments and Off-Balance S35
Commitments and Off-Balance Sheet Activities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Off-Balance Sheet Activities [Abstract] | |
Credit-related commitments | As of June 30, 2016 and December 31, 2015, the following credit-related commitments were outstanding: Contract Amount June 30, 2016 December 31, 2015 (In thousands) Unfunded commitments under lines of credit $ 97,596 $ 108,966 Commercial and standby letters of credit 4,874 7,608 Commitments to make loans 8,090 5,105 |
Preferred Equity Issues (Tables
Preferred Equity Issues (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Preferred Equity Issues [Abstract] | |
Preferred equity issues under capital purchase program | On March 27, 2009, the Company issued two series of preferred stock to the U.S. Treasury under the Capital Purchase Program ("CPP"). Below is a table disclosing the information on the two series: Number of shares issued Dividend rate Liquidation value per share Original cost, in thousands Series A cumulative perpetual preferred shares 35,539 5% for first 5 years; thereafter 9% $ 1,000.00 $ 33,437 Series B cumulative perpetual preferred shares 1,777 9 % 1,000.00 2,102 |
Derivative Financial Instrume37
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Derivative Financial Instruments [Abstract] | |
Commitments outstanding, breakdown between fixed-and adjustable-rate loans | The Company had outstanding loan commitments, excluding undisbursed portion of loans in process and equity lines of credit, of approximately $102.5 million as of June 30, 2016 and $116.6 million as of December 31, 2015. Of these commitments outstanding, the breakdown between fixed rate and adjustable rate loans is as follows: June 30, 2016 December 31, 2015 (In thousands) Fixed rate (ranging from 2.4% to 13.9%) $ 15,851 $ 11,913 Adjustable rate 86,619 104,661 Total $ 102,470 $ 116,574 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Measurements [Abstract] | |
Financial assets and off-balance-sheet instruments measured at fair value on a recurring basis | The following table summarizes the Company's financial assets and off-balance-sheet instruments measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: June 30, 2016 Total Level 1 Level 2 Level 3 (In thousands) Financial Assets: Investment securities available for sale: U.S. Government sponsored agency $ 63,511 $ - $ 63,511 $ - States and political subdivision 33,324 - 33,324 - Mortgage backed security 200,917 - 200,917 - Collateralized mortgage obligation 36,075 - 36,075 - Commercial mortgage backed security 89,483 - 89,483 - SBA Pools 723 - 723 - Asset backed security 39,437 - 39,437 - Interest rate lock commitments, mandatory forward delivery commitments and pair offs 302 - 302 - Total $ 463,772 $ - $ 463,772 $ - December 31, 2015 Financial Assets: Investment securities available for sale: U.S. Government sponsored agency $ 69,584 $ - $ 69,584 $ - States and political subdivision 3,576 - 3,576 - Mortgage backed security 121,597 - 121,597 - Collateralized mortgage obligation 39,921 - 39,921 - Commercial mortgage backed security 41,119 - 41,119 - SBA Pools 750 - 750 - Asset backed securities 39,493 - 39,493 - Interest rate lock commitments, mandatory forward delivery commitments and pair offs 225 - 225 - Total $ 316,265 $ - $ 316,265 $ - |
Assets measured at fair value on a nonrecurring basis | Assets measured at fair value on a nonrecurring basis as of June 30, 2016 and December 31, 2015 are included in the table below: ` Total Level 1 Level 2 Level 3 (In thousands) June 30, 2016 Financial Assets Impaired loans $ 33,365 $ - $ - $ 33,365 MSRs 5,311 - - 5,311 December 31, 2015 Financial Assets Impaired loans $ 36,870 $ - $ - $ 36,870 MSRs 6,905 - - 6,905 Non-Financial Assets OREO 2,231 - - 2,231 |
Valuation assumptions used on impaired loans and OREO on a nonrecurring basis at fair value | Assumptions used to determine impaired loans and OREO are presented below by classification, measured at fair value and on a nonrecurring basis as of June 30, 2016 and December 31, 2015: Fair value Valuation Technique(s) Unobservable Input(s) Adjustment Range, Weighted Average June 30, 2016 (In thousands) Impaired loans Commercial $ 14,068 Sales comparison Adjustments for differences of comparable sales (0.00)% to (13.92)%, (5.79)% Commercial real estate 7,357 Sales comparison Adjustments for differences of comparable sales (0.00) to (6.53), (5.60) Residential real estate 8,173 Sales comparison Adjustments for differences of comparable sales (3.13) to (8.70), (5.91) Construction real estate 3,328 Sales comparison Adjustments for differences of comparable sales (4.00) to (7.50), (6.17) Installment and other 439 Sales comparison Adjustments for differences of comparable sales (4.13) to (8.00), (6.45) Total impaired loans $ 33,365 December 31, 2015 Impaired loans Commercial $ 14,557 Sales comparison Adjustments for differences of comparable sales (0.00)% to (13.92)%, (5.70)% Commercial real estate 9,755 Sales comparison Adjustments for differences of comparable sales (4.25) to (7.62), (5.65) Residential real estate 8,624 Sales comparison Adjustments for differences of comparable sales (0.00) to (8.70), (5.29) Construction real estate 3,436 Sales comparison Adjustments for differences of comparable sales (4.00) to (7.25), (6.14) Installment and other 498 Sales comparison Adjustments for differences of comparable sales (4.13) to (9.50), (6.52) Total impaired loans $ 36,870 OREO Commercial real estate $ 217 Sales comparison Adjustments for differences of comparable sales (14.55) to (14.55), (14.55) Residential real estate 1,493 Sales comparison Adjustments for differences of comparable sales (8.47) to (91.19) (21.76) Construction real estate 521 Sales comparison Adjustments for differences of comparable sales (10.70) to (67.45) (57.32) Total OREO $ 2,231 |
Carrying amount and estimated fair values of financial instruments | The carrying amount and estimated fair values of other financial instruments as of June 30, 2016 and December 31, 2015 are as follows: Carrying amount Level 1 Level 2 Level 3 Total (In thousands) June 30, 2016 Financial assets: Cash and due from banks $ 16,734 $ 16,734 $ - $ - $ 16,734 Interest-bearing deposits with banks 65,769 65,769 - - 65,769 Securities purchased under resell agreements - - - - - Investments: Available for sale 463,470 - 463,470 - 463,470 Held to maturity 8,906 - 8,596 - 8,596 Non-marketable equity securities 3,856 N/A N/A N/A N/A Loans held for sale 2,366 - - 2,366 2,366 Loans, net 790,370 - - 803,118 803,118 Accrued interest receivable on securities 1,724 - 1,724 - 1,724 Accrued interest receivable on loans 2,424 - - 2,424 2,424 Accrued interest receivable other 1,557 1,557 1,557 Interest rate lock commitments, mandatory forward delivery commitments and pair offs 302 - 302 - 302 Off-balance-sheet instruments: Loan commitments and standby letters of credit $ 11 $ - $ 11 $ - $ 11 Financial liabilities: Non-interest bearing deposits $ 168,666 $ 168,666 $ - $ - $ 168,666 Interest bearing deposits 1,095,628 - 1,096,629 - 1,096,629 Borrowings 2,300 - 2,834 - 2,834 Junior subordinated debt 37,116 - - 20,665 20,665 Accrued interest payable 8,717 - 368 8,349 8,717 December 31, 2015 Financial assets: Cash and due from banks $ 13,506 $ 13,506 $ - $ - $ 13,506 Interest-bearing deposits with banks 151,049 151,049 - - 151,049 Securities purchased under resell agreements 24,320 24,320 - - 24,320 Investments: - - - - - Available for sale 316,040 - 316,040 - 316,040 Held to maturity 8,986 - 8,988 - 8,988 Non-marketable equity securities 3,854 N/A N/A N/A N/A Loans held for sale 3,041 - - 3,041 3,041 Loans, net 822,396 - - 830,555 830,555 Accrued interest receivable on securities 1,028 - 1,028 - 1,028 Accrued interest receivable on loans 3,795 - - 3,795 3,795 Accrued interest receivable other 208 - - 208 208 Interest rate lock commitments, mandatory forward delivery commitments and pair offs 225 - 225 - 225 Off-balance-sheet instruments: Loan commitments and standby letters of credit $ 20 $ - $ 20 $ - $ 20 - - - - - Financial liabilities: - - - - - Non-interest bearing deposits $ 152,888 $ 152,888 $ - $ - $ 152,888 Interest bearing deposits 1,101,070 - 1,099,937 - 1,099,937 Long-term borrowings 2,300 - 2,642 - 2,642 Junior subordinated debt 37,116 - - 20,461 20,461 Accrued interest payable 7,370 - 7,370 - 7,370 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Regulatory Matters [Abstract] | |
Summary of required and actual amounts and ratios for the entity and the Bank | The statutory requirements and actual amounts and ratios for the Company and the Bank are presented below: Actual For Capital Adequacy Purposes To be well capitalized under prompt corrective action provisions Minimum Levels Under Order Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) June 30, 2016 Total capital (to risk-weighted assets): Consolidated $ 127,822 14.2159 % $ 71,932 8.00 % N/A N/A N/A N/A Bank only 144,416 16.1336 % 71,610 8.00 % $ 89,513 10.00 % $ 98,464 11.00 % Tier 1 capital (to risk weighted assets): Consolidated 100,756 11.2057 % 53,949 6.00 % N/A N/A N/A N/A Bank only 133,141 14.8740 % 53,708 6.00 % 71,610 8.00 % N/A N/A Common Equity Tier 1 Capital (to risk weighted assets): Consolidated 43,669 4.8567 % 40,462 4.50 % N/A N/A N/A N/A Bank only 133,141 14.8740 % 40,281 4.50 % 58,183 6.50 % N/A N/A Tier 1 leverage (to average assets): Consolidated 100,756 7.1273 % 56,546 4.00 % N/A N/A N/A N/A Bank only 133,141 9.4775 % 56,193 4.00 % 70,241 5.00 % 112,385 8.00 % N/A—not applicable Actual For Capital Adequacy Purposes To be well capitalized under prompt corrective action provisions Minimum Levels Under Order Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2015 Total capital (to risk-weighted assets): Consolidated $ 128,272 14.10 % $ 72,774 8.00 % N/A N/A N/A N/A Bank only 141,486 15.62 % 72,452 8.00 % $ 90,565 10.00 % $ 99,621 11.00 % Tier 1 capital (to risk weighted assets): Consolidated 101,263 11.13 % 54,580 6.00 % N/A N/A N/A N/A Bank only 130,084 14.36 % 54,339 6.00 % 72,452 8.00 % N/A N/A Common Equity Tier 1 Capital (to risk weighted assets): Consolidated 44,080 4.85 % 40,935 4.50 % N/A N/A N/A N/A Bank only 130,084 14.36 % 40,754 4.50 % 58,867 6.50 % N/A N/A Tier 1 leverage (to average assets): Consolidated 101,263 7.11 % 56,943 4.00 % N/A N/A N/A N/A Bank only 130,084 9.18 % 56,685 4.00 % 70,856 5.00 % 113,370 8.00 % N/A - not applicable |
Earnings (Loss) Per Share Dat40
Earnings (Loss) Per Share Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Computation of basic and diluted earnings per share [Abstract] | ||||
Net income | $ 485 | $ 1,812 | $ 1,216 | $ 2,951 |
Dividends and discount accretion on preferred shares | 1,059 | 968 | 2,093 | 1,915 |
Net income (loss) available to common stockholders | $ (574) | $ 844 | $ (877) | $ 1,036 |
Weighted average common shares issued (in shares) | 6,856,800 | 6,856,800 | 6,856,800 | 6,856,800 |
LESS: Weighted average treasury stock shares (in shares) | (330,498) | (369,751) | (331,256) | (380,317) |
Weighted average common shares outstanding, net (in shares) | 6,526,302 | 6,487,049 | 6,525,544 | 6,476,483 |
Basic income per common share (in dollars per share) | $ (0.09) | $ 0.13 | $ (0.13) | $ 0.16 |
Dilutive effect of stock based compensation (in shares) | 0 | 0 | 0 | 0 |
Weighted average common shares outstanding including dilutive shares (in shares) | 6,526,302 | 6,487,049 | 6,525,544 | 6,476,483 |
Diluted income per common share (in dollars per share) | $ (0.09) | $ 0.13 | $ (0.13) | $ 0.16 |
Restricted Stock Units [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Number of shares excluded computation of earnings per share (in shares) | 62,000 | 12,000 | 62,000 | 12,000 |
Restrictions on Cash and Due 41
Restrictions on Cash and Due From Banks (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Restrictions on Cash and Due From Banks [Abstract] | ||
Reserve balances in cash or on deposit with Federal Reserve Bank | $ 7.1 | $ 4.3 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Securities Available for Sale [Abstract] | ||
Amortized Cost | $ 459,378 | $ 318,821 |
Gross Unrealized Gains | 6,112 | 442 |
Gross Unrealized Losses | (2,020) | (3,223) |
Fair Value | 463,470 | 316,040 |
Securities Held-to-maturity [Abstract] | ||
Amortized Cost | 8,906 | 8,986 |
Gross Unrecognized Gains | 0 | 2 |
Gross Unrecognized Losses | (310) | 0 |
Fair Value | 8,596 | 8,988 |
U.S. Government Sponsored Agency [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 61,863 | 69,798 |
Gross Unrealized Gains | 1,648 | 98 |
Gross Unrealized Losses | 0 | (312) |
Fair Value | 63,511 | 69,584 |
State and Political Subdivision [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 32,357 | 3,429 |
Gross Unrealized Gains | 967 | 147 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 33,324 | 3,576 |
Residential Mortgage-Backed Security [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 201,281 | 123,055 |
Gross Unrealized Gains | 965 | 43 |
Gross Unrealized Losses | (1,329) | (1,501) |
Fair Value | 200,917 | 121,597 |
Residential Collateralized Mortgage Obligation [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 35,689 | 40,305 |
Gross Unrealized Gains | 392 | 139 |
Gross Unrealized Losses | (6) | (523) |
Fair Value | 36,075 | 39,921 |
Commercial Mortgage Backed Security [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 87,343 | 41,341 |
Gross Unrealized Gains | 2,140 | 15 |
Gross Unrealized Losses | 0 | (237) |
Fair Value | 89,483 | 41,119 |
SBA Pools [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 729 | 757 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (6) | (7) |
Fair Value | 723 | 750 |
Asset-Backed Security [Member] | ||
Securities Available for Sale [Abstract] | ||
Amortized Cost | 40,116 | 40,136 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (679) | (643) |
Fair Value | 39,437 | 39,493 |
SBA Pools [Member] | ||
Securities Held-to-maturity [Abstract] | ||
Amortized Cost | 8,906 | 8,986 |
Gross Unrecognized Gains | 0 | 2 |
Gross Unrecognized Losses | (310) | 0 |
Fair Value | $ 8,596 | $ 8,988 |
Investment Securities, Realized
Investment Securities, Realized Net Gains (Losses) on Sale and call of Securities Available for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Realized net gains (losses) on sale and call of securities available for sale [Abstract] | ||||
Gross realized gains | $ 54 | $ 0 | $ 54 | $ 1 |
Gross realized losses | 0 | 0 | 0 | 0 |
Net gains | $ 54 | $ 0 | $ 54 | $ 1 |
Investment Securities, Unrealiz
Investment Securities, Unrealized Loss Information for Investment Securities (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016USD ($)Security | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($)Security | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Investment Securities [Abstract] | |||||
Tax benefit (provision) related to net realized gains and losses | $ 0 | $ 0 | $ 0 | $ 0 | |
Number of securities - total | Security | 125 | 125 | |||
Number of securities in unrealized loss position | Security | 35 | 35 | |||
Unrealized losses on debt securities | $ 159,900 | ||||
Percentage of aggregate depreciation of amortized cost basis | 1.25% | 1.25% | |||
Investment securities continuous unrealized loss position twelve months or longer, fair value | $ 103,800 | $ 103,800 | |||
Percentage of aggregate depreciation related to continuous unrealized loss position twelve months or longer | 1.70% | 1.70% | |||
Securities Available for Sale [Abstract] | |||||
Less than 12 Months, Fair Value | $ 56,035 | $ 56,035 | $ 193,177 | ||
Less than 12 Months, Unrealized Losses | (222) | (1,979) | |||
12 Months or Longer, Fair Value | 103,826 | 103,826 | 65,746 | ||
12 Months or Longer, Unrealized Losses | (1,798) | (1,244) | |||
Total, Fair Value | 159,861 | 159,861 | 258,923 | ||
Total, Unrealized Losses | (2,020) | (3,223) | |||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Less than 12 Months, Fair Value | 8,596 | 8,596 | 0 | ||
Less than 12 Months, Unrealized Losses | (310) | 0 | |||
12 Months or Longer, Fair Value | 0 | 0 | 0 | ||
12 Months or Longer, Unrealized Losses | 0 | 0 | |||
Total, Fair Value | 8,596 | 8,596 | 0 | ||
Total, Unrealized Losses | (310) | 0 | |||
U.S. Government Sponsored Agencies [Member] | |||||
Securities Available for Sale [Abstract] | |||||
Less than 12 Months, Fair Value | 0 | 0 | 54,804 | ||
Less than 12 Months, Unrealized Losses | 0 | (312) | |||
12 Months or Longer, Fair Value | 0 | 0 | 0 | ||
12 Months or Longer, Unrealized Losses | 0 | 0 | |||
Total, Fair Value | 0 | 0 | 54,804 | ||
Total, Unrealized Losses | 0 | (312) | |||
State and Political Subdivision [Member] | |||||
Securities Available for Sale [Abstract] | |||||
Less than 12 Months, Fair Value | 200 | 200 | 0 | ||
Less than 12 Months, Unrealized Losses | 0 | 0 | |||
12 Months or Longer, Fair Value | 0 | 0 | 0 | ||
12 Months or Longer, Unrealized Losses | 0 | 0 | |||
Total, Fair Value | 200 | 200 | 0 | ||
Total, Unrealized Losses | 0 | 0 | |||
Residential Mortgage-Backed Security [Member] | |||||
Securities Available for Sale [Abstract] | |||||
Less than 12 Months, Fair Value | 55,631 | 55,631 | 54,760 | ||
Less than 12 Months, Unrealized Losses | (219) | (602) | |||
12 Months or Longer, Fair Value | 60,620 | 60,620 | 48,752 | ||
12 Months or Longer, Unrealized Losses | (1,110) | (899) | |||
Total, Fair Value | 116,251 | 116,251 | 103,512 | ||
Total, Unrealized Losses | (1,329) | (1,501) | |||
Residential Collateralized Mortgage Obligation [Member] | |||||
Securities Available for Sale [Abstract] | |||||
Less than 12 Months, Fair Value | 204 | 204 | 17,237 | ||
Less than 12 Months, Unrealized Losses | (3) | (185) | |||
12 Months or Longer, Fair Value | 3,053 | 3,053 | 16,252 | ||
12 Months or Longer, Unrealized Losses | (3) | (338) | |||
Total, Fair Value | 3,257 | 3,257 | 33,489 | ||
Total, Unrealized Losses | (6) | (523) | |||
Commercial Mortgage Backed Security [Member] | |||||
Securities Available for Sale [Abstract] | |||||
Less than 12 Months, Fair Value | 26,883 | ||||
Less than 12 Months, Unrealized Losses | (237) | ||||
12 Months or Longer, Fair Value | 0 | ||||
12 Months or Longer, Unrealized Losses | 0 | ||||
Total, Fair Value | 26,883 | ||||
Total, Unrealized Losses | (237) | ||||
SBA pools [Member] | |||||
Securities Available for Sale [Abstract] | |||||
Less than 12 Months, Fair Value | 0 | 0 | 0 | ||
Less than 12 Months, Unrealized Losses | 0 | 0 | |||
12 Months or Longer, Fair Value | 716 | 716 | 742 | ||
12 Months or Longer, Unrealized Losses | (6) | (7) | |||
Total, Fair Value | 716 | 716 | 742 | ||
Total, Unrealized Losses | (6) | (7) | |||
Asset-Backed Security [Member] | |||||
Securities Available for Sale [Abstract] | |||||
Less than 12 Months, Fair Value | 0 | 0 | 39,493 | ||
Less than 12 Months, Unrealized Losses | 0 | (643) | |||
12 Months or Longer, Fair Value | 39,437 | 39,437 | 0 | ||
12 Months or Longer, Unrealized Losses | (679) | 0 | |||
Total, Fair Value | 39,437 | 39,437 | 39,493 | ||
Total, Unrealized Losses | (679) | (643) | |||
SBA pools [Member] | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Less than 12 Months, Fair Value | 8,596 | 8,596 | 0 | ||
Less than 12 Months, Unrealized Losses | (310) | 0 | |||
12 Months or Longer, Fair Value | 0 | 0 | 0 | ||
12 Months or Longer, Unrealized Losses | 0 | 0 | |||
Total, Fair Value | $ 8,596 | 8,596 | 0 | ||
Total, Unrealized Losses | $ (310) | $ 0 |
Investment Securities, Amortize
Investment Securities, Amortized Cost and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Available for Sale, Amortized Cost [Abstract] | ||
One year or less | $ 7,721 | |
One to five years | 20,946 | |
Five to ten years | 36,321 | |
Over ten years | 70,077 | |
Subtotal | 135,065 | |
Amortized cost | 459,378 | |
Available for Sale, Fair Value [Abstract] | ||
One year or less | 7,723 | |
One to five years | 21,299 | |
Five to ten years | 37,803 | |
Over ten years | 70,170 | |
Subtotal | 136,995 | |
Fair value | 463,470 | |
Held to Maturity, Amortized Cost [Abstract] | ||
One year or less | 0 | |
One to five years | 0 | |
Five to ten years | 0 | |
Over ten years | 8,906 | |
Subtotal | 8,906 | |
Amortized Cost | 8,906 | $ 8,986 |
Held to Maturity, Fair Value [Abstract] | ||
One year or less | 0 | |
One to five years | 0 | |
Five to ten years | 0 | |
Over ten years | 8,596 | |
Subtotal | 8,596 | |
Fair value | 8,596 | 8,988 |
Securities pledged as collateral on public deposits and for other purposes as required or permitted by law | 96,200 | $ 91,700 |
Residential Mortgage-Backed Security [Member] | ||
Available for Sale, Amortized Cost [Abstract] | ||
Amortized cost | 201,281 | |
Available for Sale, Fair Value [Abstract] | ||
Fair value | 200,917 | |
Residential Collateralized Mortgage Obligation [Member] | ||
Available for Sale, Amortized Cost [Abstract] | ||
Amortized cost | 35,689 | |
Available for Sale, Fair Value [Abstract] | ||
Fair value | 36,075 | |
Commercial Mortgage Backed Security [Member] | ||
Available for Sale, Amortized Cost [Abstract] | ||
Amortized cost | 87,343 | |
Available for Sale, Fair Value [Abstract] | ||
Fair value | 89,483 | |
Residential Mortgage-Backed Security [Member] | ||
Held to Maturity, Amortized Cost [Abstract] | ||
Amortized Cost | 0 | |
Held to Maturity, Fair Value [Abstract] | ||
Fair value | 0 | |
Residential Collateralized Mortgage Obligation [Member] | ||
Held to Maturity, Amortized Cost [Abstract] | ||
Amortized Cost | 0 | |
Held to Maturity, Fair Value [Abstract] | ||
Fair value | $ 0 |
Loans and Allowance for Loan 46
Loans and Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Components of loans receivables [Abstract] | ||
Total loans | $ 809,382 | $ 841,271 |
Unearned income | (1,420) | (1,483) |
Gross loans | 807,962 | 839,788 |
Allowance for loan losses | (17,592) | (17,392) |
Net loans | $ 790,370 | 822,396 |
Percentage of outstanding principal balance of commercial real estate loans secured by owner occupied properties | 28.00% | |
Commercial [Member] | ||
Components of loans receivables [Abstract] | ||
Total loans | $ 87,482 | 92,995 |
Commercial Real Estate [Member] | ||
Components of loans receivables [Abstract] | ||
Total loans | 380,958 | 371,599 |
Residential Real Estate [Member] | ||
Components of loans receivables [Abstract] | ||
Total loans | 235,404 | 258,606 |
Construction Real Estate [Member] | ||
Components of loans receivables [Abstract] | ||
Total loans | 81,739 | 89,341 |
Installment and Other [Member] | ||
Components of loans receivables [Abstract] | ||
Total loans | $ 23,799 | $ 28,730 |
Loans and Allowance for Loan 47
Loans and Allowance for Loan Losses, Loan Classification (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Current | $ 787,578 | $ 816,065 |
Nonaccrual loan classification, Current | 5,285 | 6,202 |
Total Past Due | 21,804 | 25,206 |
Nonaccrual loan classification, Total Past Due | 19,142 | 24,123 |
Total loans | 809,382 | 841,271 |
Nonaccrual | 24,427 | 30,325 |
Loans past due 90 days or more still accruing interest | 0 | 0 |
30-59 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 4,419 | 3,309 |
Nonaccrual loan classification, Total Past Due | 1,855 | 2,702 |
60-89 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 648 | 1,538 |
Nonaccrual loan classification, Total Past Due | 550 | 1,418 |
Loans Past Due 90 Days or More [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 16,737 | 20,359 |
Nonaccrual loan classification, Total Past Due | 16,737 | 20,003 |
Commercial [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Current | 84,732 | 90,839 |
Total Past Due | 2,750 | 2,156 |
Total loans | 87,482 | 92,995 |
Nonaccrual | 1,766 | 2,268 |
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial [Member] | 30-59 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 984 | 167 |
Commercial [Member] | 60-89 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 71 | 131 |
Commercial [Member] | Loans Past Due 90 Days or More [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 1,695 | 1,858 |
Commercial Real Estate [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Current | 375,065 | 363,495 |
Total Past Due | 5,893 | 8,104 |
Total loans | 380,958 | 371,599 |
Nonaccrual | 8,945 | 10,737 |
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 1,294 | 1,526 |
Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 444 | 704 |
Commercial Real Estate [Member] | Loans Past Due 90 Days or More [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 4,155 | 5,874 |
Residential Real Estate [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Current | 230,694 | 252,568 |
Total Past Due | 4,710 | 6,038 |
Total loans | 235,404 | 258,606 |
Nonaccrual | 5,962 | 7,821 |
Loans past due 90 days or more still accruing interest | 0 | 0 |
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 1,337 | 1,215 |
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 88 | 606 |
Residential Real Estate [Member] | Loans Past Due 90 Days or More [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 3,285 | 4,217 |
Construction Real Estate [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Current | 73,389 | 80,629 |
Total Past Due | 8,350 | 8,712 |
Total loans | 81,739 | 89,341 |
Nonaccrual | 7,680 | 9,353 |
Loans past due 90 days or more still accruing interest | 0 | 0 |
Construction Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 733 | 291 |
Construction Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 18 | 85 |
Construction Real Estate [Member] | Loans Past Due 90 Days or More [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 7,599 | 8,336 |
Installment and Other [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Current | 23,698 | 28,534 |
Total Past Due | 101 | 196 |
Total loans | 23,799 | 28,730 |
Nonaccrual | 74 | 146 |
Loans past due 90 days or more still accruing interest | 0 | 0 |
Installment and Other [Member] | 30-59 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 71 | 110 |
Installment and Other [Member] | 60-89 Days Past Due [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | 27 | 12 |
Installment and Other [Member] | Loans Past Due 90 Days or More [Member] | ||
Contractual aging of the recorded investment in current and past due loans by class of loans [Abstract] | ||
Total Past Due | $ 3 | $ 74 |
Loans and Allowance for Loan 48
Loans and Allowance for Loan Losses, Risk Category of Loans by Class (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Risk category of loans by class of loans [Abstract] | ||
Total loans | $ 809,382 | $ 841,271 |
Current | 787,578 | 816,065 |
Past due | 21,804 | 25,206 |
Nonaccrual | 24,427 | 30,325 |
Past Due 30-59 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 4,419 | 3,309 |
Past Due 60-89 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 648 | 1,538 |
Past Due 90 Days or More [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 16,737 | 20,359 |
Pass [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 723,087 | 723,060 |
Current | 718,723 | 719,752 |
Pass [Member] | Past Due 30-59 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 1,416 | 349 |
Pass [Member] | Past Due 60-89 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 98 | 109 |
Pass [Member] | Past Due 90 Days or More [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 2,850 | 2,850 |
Special Mention [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 19,975 | 30,932 |
Current | 19,198 | 30,674 |
Special Mention [Member] | Past Due 30-59 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 777 | 258 |
Special Mention [Member] | Past Due 60-89 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Special Mention [Member] | Past Due 90 Days or More [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Substandard [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 66,320 | 87,279 |
Current | 49,657 | 65,639 |
Nonaccrual | 21,600 | 27,500 |
Substandard [Member] | Past Due 30-59 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 2,226 | 2,702 |
Substandard [Member] | Past Due 60-89 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 550 | 1,429 |
Substandard [Member] | Past Due 90 Days or More [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 13,887 | 17,509 |
Doubtful [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 0 |
Current | 0 | 0 |
Doubtful [Member] | Past Due 30-59 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Doubtful [Member] | Past Due 60-89 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Doubtful [Member] | Past Due 90 Days or More [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 0 | 0 |
Commercial [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 87,482 | 92,995 |
Current | 84,732 | 90,839 |
Past due | 2,750 | 2,156 |
Nonaccrual | 1,766 | 2,268 |
Commercial [Member] | Past Due 30-59 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 984 | 167 |
Commercial [Member] | Past Due 60-89 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 71 | 131 |
Commercial [Member] | Past Due 90 Days or More [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 1,695 | 1,858 |
Commercial [Member] | Pass [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 66,885 | 69,221 |
Commercial [Member] | Special Mention [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 2,265 | 3,129 |
Commercial [Member] | Substandard [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 18,332 | 20,645 |
Commercial [Member] | Doubtful [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 0 |
Commercial Real Estate [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 380,958 | 371,599 |
Current | 375,065 | 363,495 |
Past due | 5,893 | 8,104 |
Nonaccrual | 8,945 | 10,737 |
Commercial Real Estate [Member] | Past Due 30-59 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 1,294 | 1,526 |
Commercial Real Estate [Member] | Past Due 60-89 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 444 | 704 |
Commercial Real Estate [Member] | Past Due 90 Days or More [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 4,155 | 5,874 |
Commercial Real Estate [Member] | Pass [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 339,554 | 307,700 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 10,596 | 19,512 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 30,808 | 44,387 |
Commercial Real Estate [Member] | Doubtful [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 0 |
Residential Real Estate [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 235,404 | 258,606 |
Current | 230,694 | 252,568 |
Past due | 4,710 | 6,038 |
Nonaccrual | 5,962 | 7,821 |
Residential Real Estate [Member] | Past Due 30-59 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 1,337 | 1,215 |
Residential Real Estate [Member] | Past Due 60-89 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 88 | 606 |
Residential Real Estate [Member] | Past Due 90 Days or More [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 3,285 | 4,217 |
Residential Real Estate [Member] | Pass [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 225,639 | 245,897 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 1,474 | 1,622 |
Residential Real Estate [Member] | Substandard [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 8,291 | 11,087 |
Residential Real Estate [Member] | Doubtful [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 0 |
Construction Real Estate [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 81,739 | 89,341 |
Current | 73,389 | 80,629 |
Past due | 8,350 | 8,712 |
Nonaccrual | 7,680 | 9,353 |
Construction Real Estate [Member] | Past Due 30-59 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 733 | 291 |
Construction Real Estate [Member] | Past Due 60-89 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 18 | 85 |
Construction Real Estate [Member] | Past Due 90 Days or More [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 7,599 | 8,336 |
Construction Real Estate [Member] | Pass [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 67,408 | 71,864 |
Construction Real Estate [Member] | Special Mention [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 5,640 | 6,667 |
Construction Real Estate [Member] | Substandard [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 8,691 | 10,810 |
Construction Real Estate [Member] | Doubtful [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 0 |
Installment and Other [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 23,799 | 28,730 |
Current | 23,698 | 28,534 |
Past due | 101 | 196 |
Nonaccrual | 74 | 146 |
Installment and Other [Member] | Past Due 30-59 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 71 | 110 |
Installment and Other [Member] | Past Due 60-89 Days [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 27 | 12 |
Installment and Other [Member] | Past Due 90 Days or More [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Past due | 3 | 74 |
Installment and Other [Member] | Pass [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 23,601 | 28,378 |
Installment and Other [Member] | Special Mention [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 0 | 2 |
Installment and Other [Member] | Substandard [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | 198 | 350 |
Installment and Other [Member] | Doubtful [Member] | ||
Risk category of loans by class of loans [Abstract] | ||
Total loans | $ 0 | $ 0 |
Loans and Allowance for Loan 49
Loans and Allowance for Loan Losses, Impairment by Class of Loans (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Unpaid Principal Balance [Abstract] | |||||
Total | $ 77,533,000 | $ 77,533,000 | $ 90,296,000 | ||
Recorded Investment [Abstract] | |||||
Total | 70,380,000 | 70,380,000 | 81,423,000 | ||
Allowance for Loan Losses Allocated [Abstract] | |||||
With an allowance recorded | 4,561,000 | 4,561,000 | 4,216,000 | ||
Average Recorded Investment [Abstract] | |||||
Total | 70,565,000 | $ 99,003,000 | 70,948,000 | $ 99,919,000 | |
Interest Income Recognized [Abstract] | |||||
Total | 967,000 | 1,383,000 | 1,935,000 | 2,753,000 | |
Loan interest income | 382,700 | 1,400,000 | 765,500 | 2,800,000 | |
Commercial [Member] | |||||
Unpaid Principal Balance [Abstract] | |||||
With no related allowance recorded | 13,251,000 | 13,251,000 | 13,611,000 | ||
With an allowance recorded | 14,455,000 | 14,455,000 | 14,958,000 | ||
Recorded Investment [Abstract] | |||||
With no related allowance recorded | 9,593,000 | 9,593,000 | 10,137,000 | ||
With an allowance recorded | 14,455,000 | 14,455,000 | 14,956,000 | ||
Allowance for Loan Losses Allocated [Abstract] | |||||
With an allowance recorded | 387,000 | 387,000 | 399,000 | ||
Average Recorded Investment [Abstract] | |||||
With no related allowance recorded | 9,679,000 | 11,178,000 | 9,820,000 | 11,356,000 | |
With allowance recorded | 14,539,000 | 15,113,000 | 14,620,000 | 15,191,000 | |
Interest Income Recognized [Abstract] | |||||
With no related allowance recorded | 157,000 | 152,000 | 314,000 | 303,000 | |
With an allowance recorded | 197,000 | 206,000 | 395,000 | 410,000 | |
Commercial Real Estate [Member] | |||||
Unpaid Principal Balance [Abstract] | |||||
With no related allowance recorded | 10,641,000 | 10,641,000 | 15,872,000 | ||
With an allowance recorded | 8,989,000 | 8,989,000 | 11,050,000 | ||
Recorded Investment [Abstract] | |||||
With no related allowance recorded | 9,981,000 | 9,981,000 | 14,198,000 | ||
With an allowance recorded | 8,989,000 | 8,989,000 | 11,050,000 | ||
Allowance for Loan Losses Allocated [Abstract] | |||||
With an allowance recorded | 1,632,000 | 1,632,000 | 1,295,000 | ||
Average Recorded Investment [Abstract] | |||||
With no related allowance recorded | 10,060,000 | 20,474,000 | 10,112,000 | 20,590,000 | |
With allowance recorded | 9,019,000 | 16,561,000 | 9,049,000 | 16,621,000 | |
Interest Income Recognized [Abstract] | |||||
With no related allowance recorded | 198,000 | 436,000 | 397,000 | 867,000 | |
With an allowance recorded | 98,000 | 186,000 | 195,000 | 370,000 | |
Residential Real Estate [Member] | |||||
Unpaid Principal Balance [Abstract] | |||||
With no related allowance recorded | 6,667,000 | 6,667,000 | 9,473,000 | ||
With an allowance recorded | 10,366,000 | 10,366,000 | 10,759,000 | ||
Recorded Investment [Abstract] | |||||
With no related allowance recorded | 5,403,000 | 5,403,000 | 7,450,000 | ||
With an allowance recorded | 10,339,000 | 10,339,000 | 10,755,000 | ||
Allowance for Loan Losses Allocated [Abstract] | |||||
With an allowance recorded | 2,166,000 | 2,166,000 | 2,132,000 | ||
Average Recorded Investment [Abstract] | |||||
With no related allowance recorded | 5,452,000 | 8,508,000 | 5,497,000 | 8,797,000 | |
With allowance recorded | 10,385,000 | 11,621,000 | 10,425,000 | 11,662,000 | |
Interest Income Recognized [Abstract] | |||||
With no related allowance recorded | 80,000 | 109,000 | 161,000 | 217,000 | |
With an allowance recorded | 97,000 | 111,000 | 193,000 | 221,000 | |
Construction Real Estate [Member] | |||||
Unpaid Principal Balance [Abstract] | |||||
With no related allowance recorded | 8,606,000 | 8,606,000 | 9,816,000 | ||
With an allowance recorded | 3,574,000 | 3,574,000 | 3,688,000 | ||
Recorded Investment [Abstract] | |||||
With no related allowance recorded | 7,133,000 | 7,133,000 | 8,137,000 | ||
With an allowance recorded | 3,574,000 | 3,574,000 | 3,688,000 | ||
Allowance for Loan Losses Allocated [Abstract] | |||||
With an allowance recorded | 246,000 | 246,000 | 252,000 | ||
Average Recorded Investment [Abstract] | |||||
With no related allowance recorded | 7,154,000 | 10,221,000 | 7,182,000 | 10,464,000 | |
With allowance recorded | 3,587,000 | 4,413,000 | 3,605,000 | 4,433,000 | |
Interest Income Recognized [Abstract] | |||||
With no related allowance recorded | 87,000 | 113,000 | 173,000 | 225,000 | |
With an allowance recorded | 45,000 | 57,000 | 90,000 | 113,000 | |
Installment and Other [Member] | |||||
Unpaid Principal Balance [Abstract] | |||||
With no related allowance recorded | 415,000 | 415,000 | 433,000 | ||
With an allowance recorded | 569,000 | 569,000 | 636,000 | ||
Recorded Investment [Abstract] | |||||
With no related allowance recorded | 344,000 | 344,000 | 416,000 | ||
With an allowance recorded | 569,000 | 569,000 | 636,000 | ||
Allowance for Loan Losses Allocated [Abstract] | |||||
With an allowance recorded | 130,000 | 130,000 | $ 138,000 | ||
Average Recorded Investment [Abstract] | |||||
With no related allowance recorded | 115,000 | 543,000 | 57,000 | 558,000 | |
With allowance recorded | 575,000 | 371,000 | 581,000 | 247,000 | |
Interest Income Recognized [Abstract] | |||||
With no related allowance recorded | 4,000 | 6,000 | 8,000 | 13,000 | |
With an allowance recorded | $ 4,000 | $ 7,000 | $ 9,000 | $ 14,000 |
Loans and Allowance for Loan 50
Loans and Allowance for Loan Losses, Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | |
Activity in the allowance for loan losses [Roll Forward] | ||||||
Beginning balance | $ 17,305 | $ 22,339 | $ 17,392 | $ 24,783 | ||
Provision (benefit) for loan losses | 0 | 0 | 0 | 0 | ||
Charge-offs | (236) | (786) | (934) | (3,551) | ||
Recoveries | 523 | 1,727 | 1,134 | 2,048 | ||
Net charge-offs | 287 | 941 | 200 | (1,503) | ||
Ending balance | 17,592 | 23,280 | 17,592 | 23,280 | ||
Allowance for loan losses allocated to [Abstract] | ||||||
Loans individually evaluated for impairment | $ 4,561 | $ 4,216 | ||||
Loans collectively evaluated for impairment | 13,031 | 13,176 | ||||
Ending balance | 17,305 | 22,339 | 17,392 | 24,783 | 17,592 | 17,392 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 70,380 | 81,423 | ||||
Collectively evaluated for impairment | 739,002 | 759,848 | ||||
Total loans | 809,382 | 841,271 | ||||
Commercial [Member] | ||||||
Activity in the allowance for loan losses [Roll Forward] | ||||||
Beginning balance | 2,385 | 3,639 | 2,442 | 4,031 | ||
Provision (benefit) for loan losses | (210) | (1,111) | (437) | (1,184) | ||
Charge-offs | (93) | (261) | (275) | (790) | ||
Recoveries | 138 | 952 | 490 | 1,162 | ||
Net charge-offs | 45 | 691 | 215 | 372 | ||
Ending balance | 2,220 | 3,219 | 2,220 | 3,219 | ||
Allowance for loan losses allocated to [Abstract] | ||||||
Loans individually evaluated for impairment | 387 | 399 | ||||
Loans collectively evaluated for impairment | 1,833 | 2,043 | ||||
Ending balance | 2,385 | 3,639 | 2,442 | 4,031 | 2,220 | 2,442 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 24,048 | 25,093 | ||||
Collectively evaluated for impairment | 63,434 | 67,902 | ||||
Total loans | 87,482 | 92,995 | ||||
Commercial Real Estate [Member] | ||||||
Activity in the allowance for loan losses [Roll Forward] | ||||||
Beginning balance | 6,720 | 8,183 | 6,751 | 8,339 | ||
Provision (benefit) for loan losses | 1,080 | 451 | 1,039 | 456 | ||
Charge-offs | (88) | 0 | (264) | |||
Reversal of charge-offs | 4 | |||||
Recoveries | 115 | 324 | 129 | 339 | ||
Net charge-offs | 119 | 236 | 129 | 75 | ||
Ending balance | 7,919 | 8,870 | 7,919 | 8,870 | ||
Allowance for loan losses allocated to [Abstract] | ||||||
Loans individually evaluated for impairment | 1,632 | 1,295 | ||||
Loans collectively evaluated for impairment | 6,287 | 5,456 | ||||
Ending balance | 6,720 | 8,183 | 6,751 | 8,339 | 7,919 | 6,751 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 18,970 | 25,248 | ||||
Collectively evaluated for impairment | 361,988 | 346,351 | ||||
Total loans | 380,958 | 371,599 | ||||
Residential Real Estate [Member] | ||||||
Activity in the allowance for loan losses [Roll Forward] | ||||||
Beginning balance | 6,154 | 7,193 | 6,082 | 7,939 | ||
Provision (benefit) for loan losses | (669) | 609 | (310) | 808 | ||
Charge-offs | (79) | (227) | (402) | (1,215) | ||
Recoveries | 223 | 121 | 259 | 164 | ||
Net charge-offs | 144 | (106) | (143) | (1,051) | ||
Ending balance | 5,629 | 7,696 | 5,629 | 7,696 | ||
Allowance for loan losses allocated to [Abstract] | ||||||
Loans individually evaluated for impairment | 2,166 | 2,132 | ||||
Loans collectively evaluated for impairment | 3,463 | 3,950 | ||||
Ending balance | 6,154 | 7,193 | 6,082 | 7,939 | 5,629 | 6,082 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 15,742 | 18,205 | ||||
Collectively evaluated for impairment | 219,662 | 240,401 | ||||
Total loans | 235,404 | 258,606 | ||||
Construction Real Estate [Member] | ||||||
Activity in the allowance for loan losses [Roll Forward] | ||||||
Beginning balance | 1,224 | 2,424 | 1,143 | 3,323 | ||
Provision (benefit) for loan losses | (201) | (61) | (199) | (21) | ||
Charge-offs | (4) | (69) | (22) | (1,031) | ||
Recoveries | 20 | 294 | 117 | 317 | ||
Net charge-offs | 16 | 225 | 95 | (714) | ||
Ending balance | 1,039 | 2,588 | 1,039 | 2,588 | ||
Allowance for loan losses allocated to [Abstract] | ||||||
Loans individually evaluated for impairment | 246 | 252 | ||||
Loans collectively evaluated for impairment | 793 | 891 | ||||
Ending balance | 1,224 | 2,424 | 1,143 | 3,323 | 1,039 | 1,143 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 10,707 | 11,825 | ||||
Collectively evaluated for impairment | 71,032 | 77,516 | ||||
Total loans | 81,739 | 89,341 | ||||
Installment and Other [Member] | ||||||
Activity in the allowance for loan losses [Roll Forward] | ||||||
Beginning balance | 797 | 790 | 940 | 788 | ||
Provision (benefit) for loan losses | (2) | 191 | (86) | 273 | ||
Charge-offs | (64) | (141) | (235) | (251) | ||
Recoveries | 27 | 36 | 139 | 66 | ||
Net charge-offs | (37) | (105) | (96) | (185) | ||
Ending balance | 758 | 876 | 758 | 876 | ||
Allowance for loan losses allocated to [Abstract] | ||||||
Loans individually evaluated for impairment | 130 | 138 | ||||
Loans collectively evaluated for impairment | 628 | 802 | ||||
Ending balance | 797 | 790 | 940 | 788 | 758 | 940 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 913 | 1,052 | ||||
Collectively evaluated for impairment | 22,886 | 27,678 | ||||
Total loans | 23,799 | 28,730 | ||||
Unallocated [Member] | ||||||
Activity in the allowance for loan losses [Roll Forward] | ||||||
Beginning balance | 25 | 110 | 34 | 363 | ||
Provision (benefit) for loan losses | 2 | (79) | (7) | (332) | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Net charge-offs | 0 | 0 | 0 | 0 | ||
Ending balance | 27 | 31 | 27 | 31 | ||
Allowance for loan losses allocated to [Abstract] | ||||||
Loans individually evaluated for impairment | 0 | 0 | ||||
Loans collectively evaluated for impairment | 27 | 34 | ||||
Ending balance | $ 25 | $ 110 | $ 34 | $ 363 | 27 | 34 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 0 | 0 | ||||
Total loans | $ 0 | $ 0 |
Loans and Allowance for Loan 51
Loans and Allowance for Loan Losses, Troubled Debt Restructurings (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016USD ($)Contract | Jun. 30, 2015USD ($)Contract | Jun. 30, 2016USD ($)Contract | Jun. 30, 2015USD ($)Contract | Dec. 31, 2015USD ($)Contract | |
TDRs on financing receivables [Abstract] | |||||
Number of Contracts | Contract | 1 | 1 | 2 | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 43,000 | $ 43,000 | $ 45,000 | $ 45,000 | |
Post-Modification Outstanding Recorded Investment | 43,000 | 43,000 | 45,000 | 45,000 | |
Specific reserves allocated | 0 | 0 | $ 0 | $ 0 | |
TDRs, subsequent default [Abstract] | |||||
Number of Contracts | Contract | 2 | 3 | |||
Recorded Investment | $ 807,000 | $ 574,000 | |||
Specific reserves allocated | $ 10,000 | 0 | |||
Number of Contracts [Abstract] | |||||
Accrual | Contract | 155 | 165 | |||
Nonaccrual | Contract | 25 | 32 | |||
Total | Contract | 180 | 197 | |||
Amount [Abstract] | |||||
Accrual | 48,804,000 | $ 48,804,000 | $ 53,862,000 | ||
Nonaccrual | 7,699,000 | 7,699,000 | 10,641,000 | ||
Total | 56,503,000 | 56,503,000 | $ 64,503,000 | ||
Commitments to lend additional funds | 249,000 | 249,000 | |||
Allowance for credit losses, Change in method of calculating impairment | 0 | 0 | $ 0 | $ 0 | |
Financing receivables, impaired, troubled debt restructuring, write-down | $ 146,700 | $ 1,800,000 | |||
Residential Real Estate [Member] | |||||
TDRs, subsequent default [Abstract] | |||||
Number of Contracts | Contract | 1 | ||||
Recorded Investment | $ 167,000 | ||||
Specific reserves allocated | $ 0 | ||||
Construction Real Estate [Member] | |||||
TDRs, subsequent default [Abstract] | |||||
Number of Contracts | Contract | 2 | 2 | |||
Recorded Investment | $ 807,000 | $ 407,000 | |||
Specific reserves allocated | $ 10,000 | $ 0 | |||
Installment and Other [Member] | |||||
TDRs on financing receivables [Abstract] | |||||
Number of Contracts | Contract | 1 | 1 | 2 | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 43,000 | $ 43,000 | $ 45,000 | $ 45,000 | |
Post-Modification Outstanding Recorded Investment | 43,000 | 43,000 | 45,000 | 45,000 | |
Specific reserves allocated | $ 0 | $ 0 | $ 0 | $ 0 |
Loans and Allowance for Loan 52
Loans and Allowance for Loan Losses, Activity Related to Loans (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Analysis of the activity related to loans [Abstract] | ||
Balance, beginning | $ 1,933 | $ 1,322 |
Additions | 0 | 438 |
Changes in Board composition | 0 | 800 |
Principal payments and other reductions | (1,519) | (627) |
Balance, ending | 414 | 1,933 |
Loans outstanding to executive officers and directors | $ 1,600 | $ 1,900 |
Loan Servicing and Mortgage S53
Loan Servicing and Mortgage Servicing Rights ("MSRs") (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Mortgage loan portfolios serviced for [Abstract] | |||||
Federal National Mortgage Association ("Fannie Mae") | $ 836,457 | $ 836,457 | $ 865,568 | ||
Other investors | 4 | 4 | 16 | ||
Totals | 836,461 | $ 836,461 | 865,584 | ||
Contractual servicing fee | 0.25% | 0.25% | |||
Late fees on loans serviced | 28 | $ 69 | $ 64 | $ 123 | |
Custodial balances on deposit at the Bank in connection with the foregoing loan servicing | 5,800 | 5,800 | 6,100 | ||
Custodial balances on deposit with other financial institutions with the foregoing loan servicing | 0 | 0 | 0 | ||
Analysis of changes in mortgage servicing rights assets [Roll Forward] | |||||
Balance at beginning of period | 8,614 | 9,318 | 8,777 | 9,470 | 9,470 |
Servicing rights originated and capitalized | 197 | 205 | 355 | 448 | |
Amortization | (396) | (379) | (717) | (774) | |
Balance at end of period | 8,415 | 9,144 | 8,415 | 9,144 | 8,777 |
Analysis of changes in the mortgage servicing right assets valuation allowance [Roll Forward] | |||||
Balance at beginning of period | (2,745) | (2,388) | (1,895) | (2,017) | (2,017) |
Aggregate reductions credited to operations | 241 | 786 | 451 | 1,384 | |
Aggregate additions credited to operations | (600) | 0 | (1,660) | (969) | |
Balance at end of period | (3,104) | (1,602) | (3,104) | (1,602) | $ (1,895) |
Mortgage servicing right, fair value | $ 5,300 | $ 7,500 | $ 5,300 | $ 7,500 | |
Assumptions used to calculate the market value [Abstract] | |||||
Weighted Average Public Securities Association (PSA) speed | 300.03% | 213.25% | |||
Weighted Average Discount rate | 11.20% | 10.50% | |||
Weighted Average Earnings rate | 0.98% | 1.73% |
Other Real Estate Owned ("ORE54
Other Real Estate Owned ("OREO") (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Real Estate [Line Items] | ||||||
Other real estate owned | $ 8,653 | $ 8,203 | $ 8,346 | $ 10,447 | $ 12,200 | $ 13,980 |
Commercial Real Estate [Member] | ||||||
Real Estate [Line Items] | ||||||
Other real estate owned | 1,510 | 781 | ||||
Residential Real Estate [Member] | ||||||
Real Estate [Line Items] | ||||||
Other real estate owned | 2,465 | 3,024 | ||||
Construction Real Estate [Member] | ||||||
Real Estate [Line Items] | ||||||
Other real estate owned | $ 4,678 | $ 4,541 |
Other Real Estate Owned ("ORE55
Other Real Estate Owned ("OREO"), Rollforward (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Other Real Estate [Roll Forward] | ||||
Balance at beginning of period | $ 8,203 | $ 12,200 | $ 8,346 | $ 13,980 |
Transfers in at fair value | 1,342 | 637 | 2,885 | 2,058 |
Write-down of value | 0 | (23) | 0 | (78) |
Gain (loss) on disposal | 538 | 156 | 751 | 403 |
Cash received upon disposition | (1,430) | (2,226) | (2,358) | (5,619) |
Sales financed by loans | 0 | (297) | (971) | (297) |
Balance at end of period | 8,653 | $ 10,447 | 8,653 | $ 10,447 |
Commercial Real Estate [Member] | ||||
Other Real Estate [Roll Forward] | ||||
Balance at beginning of period | 781 | |||
Balance at end of period | 1,510 | 1,510 | ||
Residential Real Estate [Member] | ||||
Other Real Estate [Roll Forward] | ||||
Balance at beginning of period | 3,024 | |||
Balance at end of period | 2,465 | 2,465 | ||
Construction Real Estate [Member] | ||||
Other Real Estate [Roll Forward] | ||||
Balance at beginning of period | 4,541 | |||
Balance at end of period | $ 4,678 | $ 4,678 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
Demand deposits, noninterest bearing | $ 91,759 | $ 75,867 |
NOW and money market accounts | 512,606 | 511,423 |
Savings deposits | 394,721 | 380,045 |
Time certificates, $250,000 or more | 33,097 | 39,148 |
Other time deposits | 232,111 | 247,475 |
Total deposits | 1,264,294 | 1,253,958 |
Deposits from executive officers, directors and their affiliates | $ 1,000 | $ 1,100 |
Borrowings (Details)
Borrowings (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Borrowings [Abstract] | ||
Loans pledged under blanket assignment | $ 568 | |
Investment securities pledged as collateral | 2,300 | |
Advances available based on remaining unpledged investment securities | 115,800 | |
Fixed rate advances on borrowings [Abstract] | ||
Long-term borrowings | $ 2,300 | $ 2,300 |
Federal Home Loan Bank Advances 6.343 % [Member] | ||
Fixed rate advances on borrowings [Abstract] | ||
Maturity Date | Apr. 27, 2021 | |
Rate | 6.343% | |
Type | Fixed | |
Principal due | At maturity | |
Long-term borrowings | $ 2,300 | $ 2,300 |
Junior Subordinated Debt (Detai
Junior Subordinated Debt (Details) $ in Thousands | 6 Months Ended | |||
Jun. 30, 2016USD ($)Payment | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Jun. 30, 2013USD ($) | |
Variable Interest Entity [Line Items] | ||||
Common equity securities issued | $ 6,836 | $ 6,836 | ||
Junior subordinated deferrable interest debentures owed | $ 37,116 | 37,116 | $ 37,100 | |
Number of semi annual payments entity has right to defer | Payment | 10 | |||
Number of quarterly payments entity has right to defer | Payment | 20 | |||
Trust Preferred Securities [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Accrued interest and unpaid | $ 8,300 | $ 6,900 | ||
Trust Preferred Securities [Member] | Subsequent Event [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Accrued interest and unpaid | $ 9,900 | |||
Trust I [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Date of Issue | Mar. 23, 2000 | |||
Amount of trust preferred securities issued | $ 10,000 | |||
Rate on trust preferred securities | 10.875% | |||
Maturity | Mar. 8, 2030 | |||
Date of first redemption | Mar. 8, 2010 | |||
Common equity securities issued | $ 310 | |||
Junior subordinated deferrable interest debentures owed | $ 10,310 | |||
Rate on junior subordinated deferrable interest debentures, fixed | 10.875% | |||
Trust III [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Date of Issue | May 11, 2004 | |||
Amount of trust preferred securities issued | $ 6,000 | |||
Variable rate on trust preferred securities | 3.3731% | |||
Maturity | Sep. 8, 2034 | |||
Date of first redemption | Sep. 8, 2009 | |||
Common equity securities issued | $ 186 | |||
Junior subordinated deferrable interest debentures owed | $ 6,186 | |||
Rate on junior subordinated deferrable interest debentures, variable | 3.3731% | |||
Trust IV [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Date of Issue | Jun. 29, 2005 | |||
Amount of trust preferred securities issued | $ 10,000 | |||
Rate on trust preferred securities | 6.88% | |||
Maturity | Nov. 23, 2035 | |||
Date of first redemption | Aug. 23, 2010 | |||
Common equity securities issued | $ 310 | |||
Junior subordinated deferrable interest debentures owed | $ 10,310 | |||
Rate on junior subordinated deferrable interest debentures, fixed | 6.88% | |||
Trust V [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Date of Issue | Sep. 21, 2006 | |||
Amount of trust preferred securities issued | $ 10,000 | |||
Variable rate on trust preferred securities | 2.3025% | |||
Maturity | Dec. 15, 2036 | |||
Date of first redemption | Sep. 15, 2011 | |||
Common equity securities issued | $ 310 | |||
Junior subordinated deferrable interest debentures owed | $ 10,310 | |||
Rate on junior subordinated deferrable interest debentures, variable | 2.3025% |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2011 | |
Income Taxes [Abstract] | ||||||
Income tax expense (benefit) | $ 0 | $ 0 | $ 0 | $ 0 | ||
Total deferred tax assets | $ 12,500 | $ 12,500 | $ 15,200 | $ 14,600 |
Commitments and Off-Balance S60
Commitments and Off-Balance Sheet Activities (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Loss Contingencies [Line Items] | ||
FHLB, collateral amount | $ 118,100 | |
Original term of letter of credit | 1 year | |
Potential obligations under credit-related commitments | $ 575 | $ 575 |
Unfunded Commitments under Lines of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Credit-related commitments | 97,596 | 108,966 |
Commercial and Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Credit-related commitments | 4,874 | 7,608 |
Fees collected on grants of letters of credit | 11 | 20 |
Commitments to Make Loans [Member] | ||
Loss Contingencies [Line Items] | ||
Credit-related commitments | $ 8,090 | $ 5,105 |
Preferred Equity Issues (Detail
Preferred Equity Issues (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016USD ($)$ / sharesshares | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($)Series$ / sharesshares | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($)$ / sharesshares | |
Preferred Equity Issues [Abstract] | |||||
Number of series of preferred stock issued | Series | 2 | ||||
Schedule of preferred equity issues under capital purchase program [Abstract] | |||||
Amortized period of the liquidation value of the preferred shares | 10 years | ||||
Net amount accreted to capital preferred equity | $ 89 | $ 89 | |||
Amount of dividends and net accretion on the preferred shares reduces net income | $ 1,100 | $ 968 | 2,100 | $ 1,900 | |
Dividends accrued and unpaid | $ 10,800 | $ 10,800 | $ 8,700 | ||
Series A Cumulative Perpetual Preferred Shares [Member] | |||||
Schedule of preferred equity issues under capital purchase program [Abstract] | |||||
Number of shares issued (in shares) | shares | 35,539 | 35,539 | 35,539 | ||
Dividend rate, description | 5% for first 5 years; thereafter 9% | ||||
Dividend rate | 9.00% | 9.00% | |||
Liquidation value per share (in dollars per share) | $ / shares | $ 1,000 | $ 1,000 | $ 1,000 | ||
Original cost | $ 33,437 | $ 33,437 | |||
Dividend rate of first five years | 5.00% | ||||
Dividend rate after five years | 9.00% | ||||
Series B Cumulative Perpetual Preferred Shares [Member] | |||||
Schedule of preferred equity issues under capital purchase program [Abstract] | |||||
Number of shares issued (in shares) | shares | 1,777 | 1,777 | 1,777 | ||
Dividend rate | 9.00% | 9.00% | |||
Liquidation value per share (in dollars per share) | $ / shares | $ 1,000 | $ 1,000 | $ 1,000 | ||
Original cost | $ 2,102 | $ 2,102 |
Derivative Financial Instrume62
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Derivative Financial Instruments [Abstract] | ||
Period under interest rate lock commitment contract | 60 days | |
Fixed And Adjustable Rate Loans [Abstract] | ||
Fixed rate (ranging from 2.4% to 13.9%) | $ 15,851 | $ 11,913 |
Adjustable rate | 86,619 | 104,661 |
Total | $ 102,470 | 116,574 |
Minimum [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fixed interest rate | 2.40% | |
Maximum [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fixed interest rate | 13.90% | |
Customer Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative financial instruments, notional amount | $ 8,100 | 5,100 |
FNMA Interest Rate Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative financial instruments, notional amount | 10,500 | 8,100 |
Fair value commitment assets | $ 302 | $ 225 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Investment securities available for sale [Abstract] | |||
Impaired Loans contract value | $ 37,900 | $ 40,700 | |
Impaired loans contract value - valuation allowance | 4,600 | 4,200 | |
OREO - write-down of value | 0 | 361 | |
Financial Assets [Abstract] | |||
MSRs | 5,300 | $ 7,500 | |
Recurring [Member] | |||
Investment securities available for sale [Abstract] | |||
U.S. Government sponsored agency | 63,511 | 69,584 | |
States and political subdivision | 33,324 | 3,576 | |
Mortgage backed security | 200,917 | 121,597 | |
Collateralized mortgage obligation | 36,075 | 39,921 | |
Commercial mortgage backed security | 89,483 | 41,119 | |
SBA pools | 723 | 750 | |
Asset backed security | 39,437 | 39,493 | |
Interest rate lock commitments, mandatory forward delivery commitments and pair offs | 302 | 225 | |
Total | 463,772 | 316,265 | |
Recurring [Member] | Level 1 [Member] | |||
Investment securities available for sale [Abstract] | |||
U.S. Government sponsored agency | 0 | 0 | |
States and political subdivision | 0 | 0 | |
Mortgage backed security | 0 | 0 | |
Collateralized mortgage obligation | 0 | 0 | |
Commercial mortgage backed security | 0 | 0 | |
SBA pools | 0 | 0 | |
Asset backed security | 0 | 0 | |
Interest rate lock commitments, mandatory forward delivery commitments and pair offs | 0 | 0 | |
Total | 0 | 0 | |
Recurring [Member] | Level 2 [Member] | |||
Investment securities available for sale [Abstract] | |||
U.S. Government sponsored agency | 63,511 | 69,584 | |
States and political subdivision | 33,324 | 3,576 | |
Mortgage backed security | 200,917 | 121,597 | |
Collateralized mortgage obligation | 36,075 | 39,921 | |
Commercial mortgage backed security | 89,483 | 41,119 | |
SBA pools | 723 | 750 | |
Asset backed security | 39,437 | 39,493 | |
Interest rate lock commitments, mandatory forward delivery commitments and pair offs | 302 | 225 | |
Total | 463,772 | 316,265 | |
Recurring [Member] | Level 3 [Member] | |||
Investment securities available for sale [Abstract] | |||
U.S. Government sponsored agency | 0 | 0 | |
States and political subdivision | 0 | 0 | |
Mortgage backed security | 0 | 0 | |
Collateralized mortgage obligation | 0 | 0 | |
Commercial mortgage backed security | 0 | 0 | |
SBA pools | 0 | 0 | |
Asset backed security | 0 | 0 | |
Interest rate lock commitments, mandatory forward delivery commitments and pair offs | 0 | 0 | |
Total | 0 | 0 | |
Nonrecurring [Member] | |||
Financial Assets [Abstract] | |||
Impaired loans | 33,365 | 36,870 | |
MSRs | 5,311 | 6,905 | |
Non-Financial Assets [Abstract] | |||
OREO | 2,231 | ||
Nonrecurring [Member] | Level 1 [Member] | |||
Financial Assets [Abstract] | |||
Impaired loans | 0 | 0 | |
MSRs | 0 | 0 | |
Non-Financial Assets [Abstract] | |||
OREO | 0 | ||
Nonrecurring [Member] | Level 2 [Member] | |||
Financial Assets [Abstract] | |||
Impaired loans | 0 | 0 | |
MSRs | 0 | 0 | |
Non-Financial Assets [Abstract] | |||
OREO | 0 | ||
Nonrecurring [Member] | Level 3 [Member] | |||
Financial Assets [Abstract] | |||
Impaired loans | 33,365 | 36,870 | |
MSRs | $ 5,311 | 6,905 | |
Non-Financial Assets [Abstract] | |||
OREO | $ 2,231 |
Fair Value Measurements, Assets
Fair Value Measurements, Assets, Quantitative Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | $ 33,365 | $ 36,870 |
Other Real Estate Owned [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 2,231 | |
Sales Comparison [Member] | Impaired Loans Commercial [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 14,068 | 14,557 |
Sales Comparison [Member] | Impaired Loans Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 7,357 | 9,755 |
Sales Comparison [Member] | Impaired Loans Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 8,173 | 8,624 |
Sales Comparison [Member] | Impaired Loans Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 3,328 | 3,436 |
Sales Comparison [Member] | Impaired Loans Installment and Other [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | $ 439 | 498 |
Sales Comparison [Member] | Other Real Estate Owned Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 217 | |
Sales Comparison [Member] | Other Real Estate Owned Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | 1,493 | |
Sales Comparison [Member] | Other Real Estate Owned Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | $ 521 | |
Sales Comparison [Member] | Minimum [Member] | Impaired Loans Commercial [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 0.00% | 0.00% |
Sales Comparison [Member] | Minimum [Member] | Impaired Loans Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 0.00% | 4.25% |
Sales Comparison [Member] | Minimum [Member] | Impaired Loans Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 3.13% | 0.00% |
Sales Comparison [Member] | Minimum [Member] | Impaired Loans Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 4.00% | 4.00% |
Sales Comparison [Member] | Minimum [Member] | Impaired Loans Installment and Other [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 4.13% | 4.13% |
Sales Comparison [Member] | Minimum [Member] | Other Real Estate Owned Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 14.55% | |
Sales Comparison [Member] | Minimum [Member] | Other Real Estate Owned Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 8.47% | |
Sales Comparison [Member] | Minimum [Member] | Other Real Estate Owned Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 10.70% | |
Sales Comparison [Member] | Maximum [Member] | Impaired Loans Commercial [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 13.92% | 13.92% |
Sales Comparison [Member] | Maximum [Member] | Impaired Loans Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 6.53% | 7.62% |
Sales Comparison [Member] | Maximum [Member] | Impaired Loans Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 8.70% | 8.70% |
Sales Comparison [Member] | Maximum [Member] | Impaired Loans Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 7.50% | 7.25% |
Sales Comparison [Member] | Maximum [Member] | Impaired Loans Installment and Other [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 8.00% | 9.50% |
Sales Comparison [Member] | Maximum [Member] | Other Real Estate Owned Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 14.55% | |
Sales Comparison [Member] | Maximum [Member] | Other Real Estate Owned Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 91.19% | |
Sales Comparison [Member] | Maximum [Member] | Other Real Estate Owned Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 67.45% | |
Sales Comparison [Member] | Weighted Average [Member] | Impaired Loans Commercial [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 5.79% | 5.70% |
Sales Comparison [Member] | Weighted Average [Member] | Impaired Loans Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 5.60% | 5.65% |
Sales Comparison [Member] | Weighted Average [Member] | Impaired Loans Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 5.91% | 5.29% |
Sales Comparison [Member] | Weighted Average [Member] | Impaired Loans Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 6.17% | 6.14% |
Sales Comparison [Member] | Weighted Average [Member] | Impaired Loans Installment and Other [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 6.45% | 6.52% |
Sales Comparison [Member] | Weighted Average [Member] | Other Real Estate Owned Commercial Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 14.55% | |
Sales Comparison [Member] | Weighted Average [Member] | Other Real Estate Owned Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 21.76% | |
Sales Comparison [Member] | Weighted Average [Member] | Other Real Estate Owned Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Comparison between sales and income approaches | 57.32% |
Fair Value Measurements, Estima
Fair Value Measurements, Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2013 |
Financial assets [Abstract] | |||
Cash and due from banks | $ 16,734 | $ 13,506 | |
Interest-bearing deposits with banks | 65,769 | 151,049 | |
Investments [Abstract] | |||
Available for sale | 463,470 | 316,040 | |
Held to maturity | 8,906 | 8,986 | |
Non-marketable equity securities | 3,856 | 3,854 | |
Loans held for sale | 2,366 | 3,041 | |
Loans, net | 790,370 | 822,396 | |
Financial liabilities [Abstract] | |||
Noninterest-bearing deposits | 168,666 | 152,888 | |
Interest bearing deposits | 1,095,628 | 1,101,070 | |
Long-term borrowings | 2,300 | 2,300 | |
Junior subordinated debt | 37,116 | 37,116 | $ 37,100 |
Level 1 [Member] | |||
Financial assets [Abstract] | |||
Cash and due from banks | 16,734 | 13,506 | |
Interest-bearing deposits with banks | 65,769 | 151,049 | |
Securities purchased under resell agreements | 0 | 24,320 | |
Investments [Abstract] | |||
Available for sale | 0 | 0 | |
Held to maturity | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Loans, net | 0 | 0 | |
Accrued interest receivable on securities | 0 | 0 | |
Accrued interest receivable on loans | 0 | 0 | |
Accrued interest receivable other | 0 | ||
Interest rate lock commitments, mandatory forward delivery commitments and pair offs | 0 | 0 | |
Off-balance-sheet instruments [Abstract] | |||
Loan commitments and standby letters of credit | 0 | 0 | |
Financial liabilities [Abstract] | |||
Noninterest-bearing deposits | 168,666 | 152,888 | |
Interest bearing deposits | 0 | 0 | |
Long-term borrowings | 0 | 0 | |
Junior subordinated debt | 0 | 0 | |
Accrued interest payable | 0 | 0 | |
Level 2 [Member] | |||
Financial assets [Abstract] | |||
Cash and due from banks | 0 | 0 | |
Interest-bearing deposits with banks | 0 | 0 | |
Securities purchased under resell agreements | 0 | 0 | |
Investments [Abstract] | |||
Available for sale | 463,470 | 316,040 | |
Held to maturity | 8,596 | 8,988 | |
Loans held for sale | 0 | 0 | |
Loans, net | 0 | 0 | |
Accrued interest receivable on securities | 1,724 | 1,028 | |
Accrued interest receivable on loans | 0 | 0 | |
Accrued interest receivable other | 0 | ||
Interest rate lock commitments, mandatory forward delivery commitments and pair offs | 302 | 225 | |
Off-balance-sheet instruments [Abstract] | |||
Loan commitments and standby letters of credit | 11 | 20 | |
Financial liabilities [Abstract] | |||
Noninterest-bearing deposits | 0 | 0 | |
Interest bearing deposits | 1,096,629 | 1,099,937 | |
Long-term borrowings | 2,834 | 2,642 | |
Junior subordinated debt | 0 | 0 | |
Accrued interest payable | 368 | 7,370 | |
Level 3 [Member] | |||
Financial assets [Abstract] | |||
Cash and due from banks | 0 | 0 | |
Interest-bearing deposits with banks | 0 | 0 | |
Securities purchased under resell agreements | 0 | 0 | |
Investments [Abstract] | |||
Available for sale | 0 | 0 | |
Held to maturity | 0 | 0 | |
Loans held for sale | 2,366 | 3,041 | |
Loans, net | 803,118 | 830,555 | |
Accrued interest receivable on securities | 0 | 0 | |
Accrued interest receivable on loans | 2,424 | 3,795 | |
Accrued interest receivable other | 1,557 | 208 | |
Interest rate lock commitments, mandatory forward delivery commitments and pair offs | 0 | 0 | |
Off-balance-sheet instruments [Abstract] | |||
Loan commitments and standby letters of credit | 0 | 0 | |
Financial liabilities [Abstract] | |||
Noninterest-bearing deposits | 0 | 0 | |
Interest bearing deposits | 0 | 0 | |
Long-term borrowings | 0 | 0 | |
Junior subordinated debt | 20,665 | 20,461 | |
Accrued interest payable | 8,349 | 0 | |
Carrying Amount [Member] | |||
Financial assets [Abstract] | |||
Cash and due from banks | 16,734 | 13,506 | |
Interest-bearing deposits with banks | 65,769 | 151,049 | |
Securities purchased under resell agreements | 0 | 24,320 | |
Investments [Abstract] | |||
Available for sale | 463,470 | 316,040 | |
Held to maturity | 8,906 | 8,986 | |
Non-marketable equity securities | 3,856 | 3,854 | |
Loans held for sale | 2,366 | 3,041 | |
Loans, net | 790,370 | 822,396 | |
Accrued interest receivable on securities | 1,724 | 1,028 | |
Accrued interest receivable on loans | 2,424 | 3,795 | |
Accrued interest receivable other | 1,557 | 208 | |
Interest rate lock commitments, mandatory forward delivery commitments and pair offs | 302 | 225 | |
Off-balance-sheet instruments [Abstract] | |||
Loan commitments and standby letters of credit | 11 | 20 | |
Financial liabilities [Abstract] | |||
Noninterest-bearing deposits | 168,666 | 152,888 | |
Interest bearing deposits | 1,095,628 | 1,101,070 | |
Long-term borrowings | 2,300 | 2,300 | |
Junior subordinated debt | 37,116 | 37,116 | |
Accrued interest payable | 8,717 | 7,370 | |
Estimated Fair Value [Member] | |||
Financial assets [Abstract] | |||
Cash and due from banks | 16,734 | 13,506 | |
Interest-bearing deposits with banks | 65,769 | 151,049 | |
Securities purchased under resell agreements | 0 | 24,320 | |
Investments [Abstract] | |||
Available for sale | 463,470 | 316,040 | |
Held to maturity | 8,596 | 8,988 | |
Loans held for sale | 2,366 | 3,041 | |
Loans, net | 803,118 | 830,555 | |
Accrued interest receivable on securities | 1,724 | 1,028 | |
Accrued interest receivable on loans | 2,424 | 3,795 | |
Accrued interest receivable other | 1,557 | 208 | |
Interest rate lock commitments, mandatory forward delivery commitments and pair offs | 302 | 225 | |
Off-balance-sheet instruments [Abstract] | |||
Loan commitments and standby letters of credit | 11 | 20 | |
Financial liabilities [Abstract] | |||
Noninterest-bearing deposits | 168,666 | 152,888 | |
Interest bearing deposits | 1,096,629 | 1,099,937 | |
Long-term borrowings | 2,834 | 2,642 | |
Junior subordinated debt | 20,665 | 20,461 | |
Accrued interest payable | $ 8,717 | $ 7,370 |
Regulatory Matters (Details)
Regulatory Matters (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Number of years net income plus retained income taken for dividend payment | 2 years | |
Total capital (to risk-weighted assets), Amount [Abstract] | ||
Actual | $ 127,822 | $ 128,272 |
For Capital Adequacy Purposes | $ 71,932 | $ 72,774 |
Total capital (to risk-weighted assets), Ratio [Abstract] | ||
Actual | 14.2159% | 14.10% |
For Capital Adequacy Purposes | 8.00% | 8.00% |
Tier 1 capital (risk-weighted assets), Amount [Abstract] | ||
Amount | $ 100,756 | $ 101,263 |
For Capital Adequacy Purposes | $ 53,949 | $ 54,580 |
Tier 1 capital (to risk-weighted assets), Ratio [Abstract] | ||
Actual | 11.2057% | 11.13% |
For Capital Adequacy Purposes | 6.00% | 6.00% |
Common Equity Tier 1 Capital (to risk weighted assets), Amount [Abstract] | ||
Amount | $ 43,669 | $ 44,080 |
For Capital Adequacy Purposes | $ 40,462 | $ 40,935 |
Common Equity Tier 1 Capital (to risk weighted assets), Ratio [Abstract] | ||
Actual | 4.8567% | 4.85% |
For Capital Adequacy Purposes | 4.50% | 4.50% |
Tier 1 leverage capital (to average assets), Amount [Abstract] | ||
Actual | $ 100,756 | $ 101,263 |
For Capital Adequacy Purposes | $ 56,546 | $ 56,943 |
Tier 1 capital (to average assets), Ratio [Abstract] | ||
Actual | 7.1273% | 7.11% |
For Capital Adequacy Purposes | 4.00% | 4.00% |
Bank Only [Member] | ||
Total capital (to risk-weighted assets), Amount [Abstract] | ||
Actual | $ 144,416 | $ 141,486 |
For Capital Adequacy Purposes | 71,610 | 72,452 |
To be well capitalized under prompt corrective action provisions | 89,513 | 90,565 |
Minimum Levels Under Order Provisions | $ 98,464 | $ 99,621 |
Total capital (to risk-weighted assets), Ratio [Abstract] | ||
Actual | 16.1336% | 15.62% |
For Capital Adequacy Purposes | 8.00% | 8.00% |
To be well capitalized under prompt corrective action provisions | 10.00% | 10.00% |
Minimum Levels Under Order Provisions | 11.00% | 11.00% |
Tier 1 capital (risk-weighted assets), Amount [Abstract] | ||
Amount | $ 133,141 | $ 130,084 |
For Capital Adequacy Purposes | 53,708 | 54,339 |
To be well capitalized under prompt corrective action provisions | $ 71,610 | $ 72,452 |
Tier 1 capital (to risk-weighted assets), Ratio [Abstract] | ||
Actual | 14.874% | 14.36% |
For Capital Adequacy Purposes | 6.00% | 6.00% |
To be well capitalized under prompt corrective action provisions | 8.00% | 8.00% |
Common Equity Tier 1 Capital (to risk weighted assets), Amount [Abstract] | ||
Amount | $ 133,141 | $ 130,084 |
For Capital Adequacy Purposes | 40,281 | 40,754 |
To be well capitalized under prompt corrective action provisions | $ 58,183 | $ 58,867 |
Common Equity Tier 1 Capital (to risk weighted assets), Ratio [Abstract] | ||
Actual | 14.874% | 14.36% |
For Capital Adequacy Purposes | 4.50% | 4.50% |
To be well capitalized under prompt corrective action provisions | 6.50% | 6.50% |
Tier 1 leverage capital (to average assets), Amount [Abstract] | ||
Actual | $ 133,141 | $ 130,084 |
For Capital Adequacy Purposes | 56,193 | 56,685 |
To be well capitalized under prompt corrective action provisions | 70,241 | 70,856 |
Minimum Levels Under Order Provisions | $ 112,385 | $ 113,370 |
Tier 1 capital (to average assets), Ratio [Abstract] | ||
Actual | 9.4775% | 9.18% |
For Capital Adequacy Purposes | 4.00% | 4.00% |
To be well capitalized under prompt corrective action provisions | 5.00% | 5.00% |
Minimum Levels Under Order Provisions | 8.00% | 8.00% |
Capital Conservation Buffer [Abstract] | ||
Capital conservation buffer | 8.1336% | |
Consolidated capital conservation buffer | 0.3567% |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions | Dec. 19, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Subsequent Event [Line Items] | |||
Common stock, issued (in shares) | 6,856,800 | 6,856,800 | |
Common stock, par value (in dollars per share) | $ 0 | $ 0 | |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 | |
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | |||
Gross proceeds from private placement | $ 52 | ||
Subsequent Event [Member] | Minimum [Member] | |||
Subsequent Event [Line Items] | |||
Percentage of stock ownership required for investor to be appointed as representative of board of directors | 5.00% | ||
Subsequent Event [Member] | Series C Preferred Stock [Member] | |||
Subsequent Event [Line Items] | |||
Preferred stock, issued (in shares) | 82,862 | ||
Preferred stock, par value (in dollars per share) | $ 0 | ||
Purchase price (in dollars per share) | $ 475 | ||
Subsequent Event [Member] | Common Stock [Member] | |||
Subsequent Event [Line Items] | |||
Common stock, issued (in shares) | 2,661,239 | ||
Common stock, par value (in dollars per share) | $ 0 | ||
Purchase price (in dollars per share) | $ 4.75 |