Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Mar. 17, 2014 | Jun. 30, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'PLUMAS BANCORP | ' | ' |
Entity Central Index Key | '0001168455 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 4,788,339 | ' |
Entity Public Float | ' | ' | $26.30 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
ASSETS | ' | ' |
Cash and cash equivalents | $49,917,000 | $44,675,000 |
Investment securities | 90,343,000 | 80,964,000 |
Loans, less allowance for loan losses of $5,517,000 in 2013 and $5,686,000 in 2012 | 334,374,000 | 310,271,000 |
Premises and equipment, net | 12,519,000 | 13,271,000 |
Bank owned life insurance | 11,504,000 | 11,160,000 |
Other real estate and vehicles acquired through foreclosure | 6,459,000 | 5,336,000 |
Accrued interest receivable and other assets | 10,609,000 | 12,125,000 |
Total assets | 515,725,000 | 477,802,000 |
Deposits: | ' | ' |
Non-interest bearing | 162,816,000 | 143,646,000 |
Interest bearing | 286,623,000 | 267,916,000 |
Total deposits | 449,439,000 | 411,562,000 |
Repurchase agreements | 9,109,000 | 7,377,000 |
Note Payable | 3,000,000 | ' |
Subordinated debenture | 7,295,000 | ' |
Accrued interest payable and other liabilities | 5,979,000 | 6,703,000 |
Junior subordinated deferrable interest debentures | 10,310,000 | 10,310,000 |
Total liabilities | 485,132,000 | 435,952,000 |
Commitments and contingencies (Note 12) | ' | ' |
Shareholders' equity: | ' | ' |
Serial preferred stock - no par value; 10,000,000 shares authorized; 11,949 issued and outstanding at December 31, 2012; aggregate liquidation value of $13,667,000 at December 31, 2012 | ' | 11,855,000 |
Common stock - no par value; 22,500,000 shares authorized; issued and outstanding - 4,787,739 at December 31, 2013 and 4,776,309 at December 31, 2012 | 6,249,000 | 6,093,000 |
Retained earnings | 25,507,000 | 23,573,000 |
Accumulated other comprehensive (loss) income | -1,163,000 | 329,000 |
Total shareholders' equity | 30,593,000 | 41,850,000 |
Total liabilities and shareholders' equity | $515,725,000 | $477,802,000 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Allowance for loan losses | $5,517,000 | $5,686,000 |
Serial preferred stock, no par value | ' | ' |
Serial preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Serial preferred stock, shares issued | ' | 11,949 |
Serial preferred stock, shares outstanding | ' | 11,949 |
Serial preferred stock aggregate liquidation value | ' | $13,667,000 |
Common stock, no par value | ' | ' |
Common stock, shares authorized | 22,500,000 | 22,500,000 |
Common stock, shares issued | 4,787,739 | 4,776,309 |
Common stock, shares outstanding | 4,787,739 | 4,776,309 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Interest income: | ' | ' | ' |
Interest and fees on loans | $18,174,000 | $17,427,000 | $17,400,000 |
Interest on investment securities: | ' | ' | ' |
Taxable | 1,155,000 | 892,000 | 1,138,000 |
Exempt from Federal income taxes | 7,000 | ' | 6,000 |
Other | 124,000 | 106,000 | 124,000 |
Total interest income | 19,460,000 | 18,425,000 | 18,668,000 |
Interest expense: | ' | ' | ' |
Interest on deposits | 600,000 | 847,000 | 1,469,000 |
Interest on note payable | 23,000 | ' | ' |
Interest on subordinated debentures | 541,000 | ' | ' |
Interest on junior subordinated deferrable interest debentures | 313,000 | 344,000 | 326,000 |
Other | 57,000 | 83,000 | 53,000 |
Total expenses | 1,534,000 | 1,274,000 | 1,848,000 |
Net interest income before provision for loan losses | 17,926,000 | 17,151,000 | 16,820,000 |
Provision for loan losses | 1,400,000 | 2,350,000 | 3,500,000 |
Net interest income after provision for loan losses | 16,526,000 | 14,801,000 | 13,320,000 |
Non-interest income: | ' | ' | ' |
Service charges | 3,912,000 | 3,617,000 | 3,477,000 |
Gain on sale of loans | 1,399,000 | 1,324,000 | 1,939,000 |
Gain on sale of investments | ' | 403,000 | 666,000 |
Earnings on bank owned life insurance policies, net | 344,000 | 345,000 | 352,000 |
Other | 987,000 | 907,000 | 728,000 |
Total non-interest income | 6,642,000 | 6,596,000 | 7,162,000 |
Non-interest expenses: | ' | ' | ' |
Salaries and employee benefits | 8,729,000 | 8,968,000 | 9,195,000 |
Occupancy and equipment | 2,874,000 | 3,023,000 | 3,088,000 |
Provision for losses on other real estate | 486,000 | 907,000 | 579,000 |
Other | 5,481,000 | 5,479,000 | 6,384,000 |
Total non-interest expenses | 17,570,000 | 18,377,000 | 19,246,000 |
Income (loss) before equity in undistributed income of subsidiary | 5,598,000 | 3,020,000 | 1,236,000 |
Provision for income taxes | 2,167,000 | 1,070,000 | 295,000 |
Net income | 3,431,000 | 1,950,000 | 941,000 |
Discount on redemption of preferred stock | 565,000 | ' | ' |
Preferred stock dividends and discount accretion | -347,000 | -684,000 | -684,000 |
Net income available to common shareholders | $3,649,000 | $1,266,000 | $257,000 |
Basic earnings per common share | $0.76 | $0.26 | $0.05 |
Diluted earnings per common share | $0.75 | $0.26 | $0.05 |
Common dividends per share | ' | ' | ' |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $3,431,000 | $1,950,000 | $941,000 |
Other comprehensive (loss) income: | ' | ' | ' |
Change in net unrealized (loss) gains | -2,540,000 | 695,000 | 1,023,000 |
Less: reclassification adjustments for net gains included in net income | ' | -403,000 | -666,000 |
Net unrealized holding (loss) gains | -2,540,000 | 292,000 | 357,000 |
Income tax effect | 1,048,000 | -121,000 | -147,000 |
Total other comprehensive (loss) income | -1,492,000 | 171,000 | 210,000 |
Comprehensive income | $1,939,000 | $2,121,000 | $1,151,000 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) Income (Net of Taxes) [Member] |
Balance at Dec. 31, 2010 | $37,988,000 | $11,682,000 | $6,027,000 | $20,331,000 | ($52,000) |
Balance, Shares at Dec. 31, 2010 | ' | 11,949 | 4,776,339 | ' | ' |
Net income | 941,000 | ' | ' | 941,000 | ' |
Other comprehensive (loss) income | 210,000 | ' | ' | ' | 210,000 |
Reverse accrued dividends on preferred stock | 524,000 | ' | ' | 524,000 | ' |
Preferred stock accretion | ' | 87,000 | ' | -87,000 | ' |
Stock-based compensation expense | -29,000 | ' | -29,000 | ' | ' |
Balance at Dec. 31, 2011 | 39,634,000 | 11,769,000 | 5,998,000 | 21,709,000 | 158,000 |
Balance, Shares at Dec. 31, 2011 | ' | 11,949 | 4,776,339 | ' | ' |
Net income | 1,950,000 | ' | ' | 1,950,000 | ' |
Other comprehensive (loss) income | 171,000 | ' | ' | ' | 171,000 |
Preferred stock accretion | ' | 86,000 | ' | -86,000 | ' |
Stock-based compensation expense | 95,000 | ' | 95,000 | ' | ' |
Balance at Dec. 31, 2012 | 41,850,000 | 11,855,000 | 6,093,000 | 23,573,000 | 329,000 |
Balance, Shares at Dec. 31, 2012 | ' | 11,949 | 4,776,339 | ' | ' |
Net income | 3,431,000 | ' | ' | 3,431,000 | ' |
Other comprehensive (loss) income | -1,492,000 | ' | ' | ' | -1,492,000 |
Preferred stock accretion | ' | 94,000 | ' | -94,000 | ' |
Preferred stock dividends | -1,968,000 | ' | ' | -1,968,000 | ' |
Redemption of preferred stock | -11,384,000 | -11,384,000 | ' | ' | ' |
Redemption of preferred stock, Shares | ' | -11,949 | ' | ' | ' |
Discount on redemption of preferred stock | ' | -565,000 | ' | 565,000 | ' |
Exercise of stock options | 34,000 | ' | 34,000 | ' | ' |
Exercise of stock options, Shares | 11,400 | ' | 11,400 | ' | ' |
Repurchase of common stock warrant | -234,000 | ' | -234,000 | ' | ' |
Issuance of common stock warrant | 318,000 | ' | 318,000 | ' | ' |
Stock-based compensation expense | 38,000 | ' | 38,000 | ' | ' |
Balance at Dec. 31, 2013 | $30,593,000 | ' | $6,249,000 | $25,507,000 | ($1,163,000) |
Balance, Shares at Dec. 31, 2013 | ' | ' | 4,787,739 | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Cash flows from operating activities: | ' | ' | ' |
Net income | $3,431,000 | $1,950,000 | $941,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Provision for loan losses | 1,400,000 | 2,350,000 | 3,500,000 |
Change in deferred loan origination costs/fees, net | -667,000 | -629,000 | -441,000 |
Stock-based compensation expense | 38,000 | 95,000 | -29,000 |
Depreciation and amortization | 1,408,000 | 1,354,000 | 1,409,000 |
Amortization of investment security premiums | 445,000 | 525,000 | 410,000 |
Accretion of investment security discounts | -6,000 | -5,000 | -32,000 |
Gain on sale of investments | ' | -403,000 | -666,000 |
Gain on sale of loans held for sale | -1,399,000 | -1,324,000 | -1,939,000 |
Loans originated for sale | -17,609,000 | -21,154,000 | -18,550,000 |
Proceeds from loan sales | 21,733,000 | 20,084,000 | 23,368,000 |
Provision for losses on other real estate | 486,000 | 907,000 | 579,000 |
Net (gain) loss on sale of other real estate and vehicles owned | -183,000 | 9,000 | 611,000 |
Earnings on bank owned life insurance policies | -344,000 | -345,000 | -352,000 |
Provision for deferred income taxes | 2,085,000 | 1,042,000 | 259,000 |
Decrease in accrued interest receivable and other assets | 613,000 | 632,000 | 1,575,000 |
(Decrease) increase in accrued interest payable and other liabilities | -724,000 | 717,000 | -557,000 |
Net cash provided by (used in) operating activities | 10,707,000 | 5,805,000 | 10,086,000 |
Cash flows from investing activities: | ' | ' | ' |
Proceeds from matured and called available- for-sale investment securities | 14,000,000 | 23,179,000 | 29,182,000 |
Proceeds from sale of available-for-sale securities | ' | 20,773,000 | 29,404,000 |
Purchases of available-for-sale investment securities | -34,734,000 | -75,214,000 | -59,247,000 |
Proceeds from principal repayments from available-for-sale government-guaranteed mortgage-backed securities | 8,376,000 | 8,390,000 | 6,406,000 |
Net (increase) decrease in loans | -31,864,000 | -23,734,000 | 3,386,000 |
Proceeds from sale of vehicles | 148,000 | 81,000 | 33,000 |
Proceeds from sale of other real estate | 2,404,000 | 3,714,000 | 4,937,000 |
Purchases of premises and equipment | -352,000 | -915,000 | -271,000 |
Net cash (used in) provided by investing activities | -42,022,000 | -43,726,000 | 13,830,000 |
Cash flows from financing activities: | ' | ' | ' |
Net increase in demand, interest-bearing and savings deposits | 45,770,000 | 30,221,000 | 3,534,000 |
Net decrease in time deposits | -7,893,000 | -9,799,000 | -37,281,000 |
Net increase (decrease) in securities sold under agreements to repurchase | 1,732,000 | -902,000 | 8,279,000 |
Issuance of subordinated debenture, net of discount | 7,182,000 | ' | ' |
Issuance of common stock warrant | 318,000 | ' | ' |
Issuance of note payable | 3,000,000 | ' | ' |
Repurchase of common stock warrant | -234,000 | ' | ' |
Redemption of preferred stock | -11,384,000 | ' | ' |
Payment of cash dividend on preferred stock | -1,968,000 | ' | ' |
Proceeds from exercise of stock options | 34,000 | ' | ' |
Net cash provided by (used in) financing activities | 36,557,000 | 19,520,000 | -25,468,000 |
Increase (decrease) in cash and cash equivalents | 5,242,000 | -18,401,000 | -1,552,000 |
Cash and cash equivalents at beginning of year | 44,675,000 | 63,076,000 | 64,628,000 |
Cash and cash equivalents at end of year | 49,917,000 | 44,675,000 | 63,076,000 |
Cash paid during the year for: | ' | ' | ' |
Interest expense | 2,438,000 | 942,000 | 1,688,000 |
Income taxes | 30,000 | 2,000 | 2,000 |
Non-cash investing activities: | ' | ' | ' |
Real estate acquired through foreclosure | 3,824,000 | 1,208,000 | 5,710,000 |
Vehicles acquired through repossession | $155,000 | $65,000 | $79,000 |
The_Business_of_Plumas_Bancorp
The Business of Plumas Bancorp | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
The Business of Plumas Bancorp | ' | |
1 | THE BUSINESS OF PLUMAS BANCORP | |
During 2002, Plumas Bancorp (the “Company”) was incorporated as a bank holding company for the purpose of acquiring Plumas Bank (the “Bank”) in a one bank holding company reorganization. This corporate structure gives the Company and the Bank greater flexibility in terms of operation, expansion and diversification. The Company formed Plumas Statutory Trust I (“Trust I”) for the sole purpose of issuing trust preferred securities on September 26, 2002. The Company formed Plumas Statutory Trust II (“Trust II”) for the sole purpose of issuing trust preferred securities on September 28, 2005. | ||
The Bank operates eleven branches in California, including branches in Alturas, Chester, Fall River Mills, Greenville, Kings Beach, Portola, Quincy, Redding, Susanville, Tahoe City, and Truckee. The Bank’s administrative headquarters is in Quincy, California. In addition, the Bank operates a loan administrative office in Reno, Nevada and a lending office specializing in government-guaranteed lending in Auburn, California. The Bank’s primary source of revenue is generated from providing loans to customers who are predominately small and middle market businesses and individuals residing in the surrounding areas. |
Regulatory_Matters
Regulatory Matters | 12 Months Ended | |
Dec. 31, 2013 | ||
Commitments And Contingencies Disclosure [Abstract] | ' | |
Regulatory Matters | ' | |
2 | REGULATORY MATTERS | |
On February 15, 2012, the Bank received notice from the Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Institutions (“DFI”) that the Consent Order with the FDIC and the DFI which was effective on March 16, 2011 had been terminated. Effective February 8, 2012, the Bank entered into an informal agreement with the FDIC and DFI which, among other things, requested that the Bank continue to maintain a Tier 1 Leverage Capital Ratio of 9% which is in excess of that required for well capitalized institutions and continue to reduce its level of classified asset balances that were outstanding as of September 30, 2011 to not more than 50% of Tier 1 Capital plus the allowance for loan losses. At December 31, 2012 this ratio was 32% and the Bank’s Tier 1 Leverage Capital Ratio was 10.4%. The FDIC and DFI terminated the informal agreement effective January 24, 2013. Effective July 1, 2013, the California Department of Corporations and the DFI merged to form the Department of Business Oversight (“DBO”). | ||
On July 28, 2011 the Company entered into an agreement with the Federal Reserve Bank of San Francisco (the “FRB Agreement”). Under the terms of the FRB Agreement, Plumas Bancorp agreed to take certain actions that were designed to maintain its financial soundness so that it may continue to serve as a source of strength to the Bank. Among other things, the FRB Agreement required prior written approval related to the payment or taking of dividends and distributions, making any distributions of interest, principal or other sums on subordinated debentures or trust preferred securities, incurrence of debt, and the purchase or redemption of stock. On April 19, 2013 the Company received notice that the FRB Agreement had been terminated. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Summary of Significant Accounting Policies | ' | ||||||||
3 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||
Consolidation and Basis of Presentation | |||||||||
The consolidated financial statements include the accounts of the Company and the consolidated accounts of its wholly-owned subsidiary, Plumas Bank. All significant intercompany balances and transactions have been eliminated. | |||||||||
Plumas Statutory Trust I and Trust II are not consolidated into the Company’s consolidated financial statements and, accordingly, are accounted for under the equity method. The Company’s investment in Trust I of $298,000 and Trust II of $159,000 are included in accrued interest receivable and other assets on the consolidated balance sheet. The junior subordinated deferrable interest debentures issued and guaranteed by the Company and held by Trust I and Trust II are reflected as debt on the consolidated balance sheet. | |||||||||
The accounting and reporting policies of Plumas Bancorp and subsidiary conform with accounting principles generally accepted in the United States of America and prevailing practices within the banking industry. | |||||||||
Reclassifications | |||||||||
Certain reclassifications have been made to prior years’ balances to conform to the classifications used in 2013. These reclassifications had no impact on the Company’s consolidated financial position, results of operations or net change in cash and cash equivalents. | |||||||||
Segment Information | |||||||||
Management has determined that since all of the banking products and services offered by the Company are available in each branch of the Bank, all branches are located within the same economic environment and management does not allocate resources based on the performance of different lending or transaction activities, it is appropriate to aggregate the Bank branches and report them as a single operating segment. No customer accounts for more than 10 percent of revenues for the Company or the Bank. | |||||||||
Use of Estimates | |||||||||
To prepare financial statements in conformity with accounting principles generally accepted in the United States of America management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. The allowance for loan losses, loan servicing rights, deferred tax assets, and fair values of financial instruments are particularly subject to change. | |||||||||
Cash and Cash Equivalents | |||||||||
For the purpose of the statement of cash flows, cash and due from banks and Federal funds sold are considered to be cash equivalents. Generally, Federal funds are sold for one day periods. Cash held with other federally insured institutions in excess of FDIC limits as of December 31, 2013 was $7.3 million. Net cash flows are reported for customer loans and deposit transactions and repurchase agreements. | |||||||||
Investment Securities | |||||||||
Investments are classified into one of the following categories: | |||||||||
• | Available-for-sale securities reported at fair value, with unrealized gains and losses excluded from earnings and reported, net of taxes, as accumulated other comprehensive income (loss) within shareholders’ equity. | ||||||||
• | Held-to-maturity securities, which management has the positive intent and ability to hold, reported at amortized cost, adjusted for the accretion of discounts and amortization of premiums. As of December 31, 2013 and 2012 the Company did not have any investment securities classified as held-to-maturity. | ||||||||
Management determines the appropriate classification of its investments at the time of purchase and may only change the classification in certain limited circumstances. | |||||||||
As of December 31, 2013 and 2012 the Company did not have any investment securities classified as trading and gains or losses on the sale of securities are computed on the specific identification method. Interest earned on investment securities is reported in interest income, net of applicable adjustments for accretion of discounts and amortization of premiums accounted for by the level yield method with no pre-payment anticipated. | |||||||||
An investment security is impaired when its carrying value is greater than its fair value. Investment securities that are impaired are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether such a decline in their fair value is other than temporary. Management utilizes criteria such as the magnitude and duration of the decline and the intent and ability of the Company to retain its investment in the securities for a period of time sufficient to allow for an anticipated recovery in fair value, in addition to the reasons underlying the decline, to determine whether the loss in value is other than temporary. The term “other than temporary” is not intended to indicate that the decline is permanent, but indicates that the prospects for a near-term recovery of value is not necessarily favorable, or that there is a lack of evidence to support a realizable value equal to or greater than the carrying value of the investment. Once a decline in value is determined to be other than temporary, and management does not intend to sell the security or it is more likely than not that the Company will not be required to sell the security before recovery, only the portion of the impairment loss representing credit exposure is recognized as a charge to earnings, with the balance recognized as a charge to other comprehensive income. If management intends to sell the security or it is more likely than not that the Company will be required to sell the security before recovering its forecasted cost, the entire impairment loss is recognized as a charge to earnings. | |||||||||
Investment in Federal Home Loan Bank Stock | |||||||||
As a member of the Federal Home Loan Bank (FHLB) System, the Bank is required to maintain an investment in the capital stock of the FHLB. The investment is carried at cost classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. At December 31, 2013 and 2012, FHLB stock totaled $2,226,000 and $1,950,000, respectively. On the consolidated balance sheet, FHLB stock is included in accrued interest receivable and other assets. | |||||||||
Loans Held for Sale, Loan Sales and Servicing | |||||||||
Included in the loan portfolio are loans which are 75% to 85% guaranteed by the Small Business Administration (SBA), US Department of Agriculture Rural Business Cooperative Service (RBS) and Farm Services Agency (FSA). The guaranteed portion of these loans may be sold to a third party, with the Bank retaining the unguaranteed portion. The Company can receive a premium in excess of the adjusted carrying value of the loan at the time of sale. | |||||||||
As of December 31, 2013 and 2012 the Company had $2,800,000 and $3,367,000, respectively in government guaranteed loans held for sale. Loans held for sale are recorded at the lower of cost or fair value and therefore may be reported at fair value on a non-recurring basis. The fair values for loans held for sale are based on either observable transactions of similar instruments or formally committed loan sale prices. | |||||||||
Government guaranteed loans with unpaid balances of $70,212,000 and $58,696,000 were being serviced for others at December 31, 2013 and 2012, respectively. | |||||||||
The Company accounts for the transfer and servicing of financial assets based on the fair value of financial and servicing assets it controls and liabilities it has assumed, derecognizes financial assets when control has been surrendered, and derecognizes liabilities when extinguished. | |||||||||
Servicing rights acquired through 1) a purchase or 2) the origination of loans which are sold or securitized with servicing rights retained are recognized as separate assets or liabilities. Servicing assets or liabilities are recorded at fair value and are subsequently amortized in proportion to and over the period of the related net servicing income or expense. Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with non-interest income on the statement of income. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. | |||||||||
The Company’s investment in the loan is allocated between the retained portion of the loan, the servicing asset, the interest-only (IO) strip, and the sold portion of the loan based on their fair values on the date the loan is sold. The gain on the sold portion of the loan is recognized as income at the time of sale. | |||||||||
The carrying value of the retained portion of the loan is discounted based on the estimated value of a comparable non-guaranteed loan. The servicing asset is recognized and amortized over the estimated life of the related loan. Assets (accounted for as IO strips) are recorded at the fair value of the difference between note rates and rates paid to purchasers (the interest spread) and contractual servicing fees, if applicable. IO strips are carried at fair value with gains or losses recorded as a component of shareholders’ equity, similar to available-for-sale investment securities. Significant future prepayments of these loans will result in the recognition of additional amortization of related servicing assets and an adjustment to the carrying value of related IO strips. | |||||||||
Loans | |||||||||
Loans that management has the intent and ability to hold for foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of purchase premiums or discounts, deferred loan fees and costs, and an allowance for loan losses. Loans, if any, that are transferred from loans held for sale are carried at the lower of principal balance or market value at the date of transfer, adjusted for accretion of discounts. Interest is accrued daily based upon outstanding loan balances. However, when, in the opinion of management, loans are considered to be impaired and the future collectability of interest and principal is in serious doubt, loans are placed on nonaccrual status and the accrual of interest income is suspended. Any interest accrued but unpaid is charged against income. Payments received are applied to reduce principal to the extent necessary to ensure collection. A loan is moved to non-accrual status in accordance with the Company’s policy, typically after 90 days of non-payment unless well secured and in the process of collection. Subsequent payments on these loans, or payments received on nonaccrual loans for which the ultimate collectability of principal is not in doubt, are applied first to earned but unpaid interest and then to principal. | |||||||||
Loan origination fees, commitment fees, direct loan origination costs and purchased premiums and discounts on loans are deferred and recognized as an adjustment of yield, to be amortized to interest income over the contractual term of the loan. The unamortized balance of deferred fees and costs is reported as a component of net loans. | |||||||||
The Company may acquire loans through a business combination or a purchase for which differences may exist between the contractual cash flows and the cash flows expected to be collected due, at least in part, to credit quality. When the Company acquires such loans, the yield that may be accreted (accretable yield) is limited to the excess of the Company’s estimate of undiscounted cash flows expected to be collected over the Company’s initial investment in the loan. The excess of contractual cash flows over cash flows expected to be collected may not be recognized as an adjustment to yield, loss, or a valuation allowance. Subsequent increases in cash flows expected to be collected generally should be recognized prospectively through adjustment of the loan’s yield over its remaining life. Decreases in cash flows expected to be collected should be recognized as an impairment. | |||||||||
The Company may not “carry over” or create a valuation allowance in the initial accounting for loans acquired under these circumstances. At December 31, 2013 and 2012, there were no such loans being accounted for under this policy. | |||||||||
Allowance for Loan Losses | |||||||||
The allowance for loan losses is an estimate of probable incurred credit losses inherent in the Company’s loan portfolio that have been incurred as of the balance-sheet date. The allowance is established through a provision for loan losses which is charged to expense. Additions to the allowance are expected to maintain the adequacy of the total allowance after credit losses and loan growth. Credit exposures determined to be uncollectible are charged against the allowance. Cash received on previously charged-off amounts is recorded as a recovery to the allowance. The overall allowance consists of two primary components, specific reserves related to impaired loans and general reserves for inherent losses related to loans that are not impaired but collectively evaluated for impairment. | |||||||||
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the original agreement. Loans determined to be impaired are individually evaluated for impairment. When a loan is impaired, the Company measures impairment based on the present value of expected future cash flows discounted at the loan’s effective interest rate, except that as a practical expedient, it may measure impairment based on a loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. A loan is collateral dependent if the repayment of the loan is expected to be provided solely by the underlying collateral. | |||||||||
A restructuring of a debt constitutes a troubled debt restructuring (TDR) if the Company, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. Restructured workout loans typically present an elevated level of credit risk as the borrowers are not able to perform according to the original contractual terms. Loans that are reported as TDRs are considered impaired and measured for impairment as described above. | |||||||||
The determination of the general reserve for loans that are not impaired is based on estimates made by management, to include, but not limited to, consideration of historical losses by portfolio segment from January 1, 2008 (the beginning of the latest business cycle as determined by management) to the most current balance sheet date, internal asset classifications, and qualitative factors to include economic trends in the Company’s service areas, industry experience and trends, geographic concentrations, estimated collateral values, the Company’s underwriting policies, the character of the loan portfolio, and probable incurred losses inherent in the portfolio taken as a whole. During 2012, the Company modified its method of estimating the allowance for loan losses for non-impaired loans. This modification incorporated historical losses from the beginning of the latest business cycle. Previously we utilized historical loss experience based on a rolling eight quarters ending with the most recently completed calendar quarter. This modification had the effect of increasing the required allowance related to the expanded historical loss period by $250,000. The Company believes that, given the recent trend in historical losses, it was prudent to increase the period examined and that a full business cycle was the appropriate period. | |||||||||
The Company maintains a separate allowance for each portfolio segment (loan type). These portfolio segments include commercial, agricultural, real estate construction (including land and development loans), commercial real estate mortgage, residential mortgage, home equity loans, automobile loans and other loans primarily consisting of consumer installment loans and credit card receivables. The allowance for loan losses attributable to each portfolio segment, which includes both impaired loans and loans that are not impaired, is combined to determine the Company’s overall allowance, and is included as a component of loans on the consolidated balance sheet. | |||||||||
The Company assigns a risk rating to all loans, with the exception of automobile and other loans and periodically, but not less than annually, performs detailed reviews of all such loans over $100,000 to identify credit risks and to assess the overall collectability of the portfolio. These risk ratings are also subject to examination by independent specialists engaged by the Company and the Company’s regulators. During these internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which borrowers operate and the fair values of collateral securing these loans. These credit quality indicators are used to assign a risk rating to each individual loan. | |||||||||
The risk ratings can be grouped into five major categories, defined as follows: | |||||||||
Pass – A pass loan is a strong credit with no existing or known potential weaknesses deserving of management’s close attention. | |||||||||
Watch – A Watch loan has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the Company’s credit position at some future date. Watch loans are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. | |||||||||
Substandard – A substandard loan is not adequately protected by the current sound worth and paying capacity of the borrower or the value of the collateral pledged, if any. Loans classified as substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Well defined weaknesses include a project’s lack of marketability, inadequate cash flow or collateral support, failure to complete construction on time or the project’s failure to fulfill economic expectations. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | |||||||||
Doubtful – Loans classified doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions and values, highly questionable and improbable. | |||||||||
Loss – Loans classified as loss are considered uncollectible and charged off immediately. | |||||||||
The general reserve component of the allowance for loan losses associated with loans collectively evaluated for impairment also consists of reserve factors that are based on management’s assessment of the following for each portfolio segment: (1) historical losses and (2) other qualitative factors, including inherent credit risk. These reserve factors are inherently subjective and are driven by the repayment risk associated with each portfolio segment described on the next page. | |||||||||
Commercial – Commercial loans generally possess a lower inherent risk of loss than real estate portfolio segments because these loans are generally underwritten to existing cash flows of operating businesses. Debt coverage is | |||||||||
provided by business cash flows and economic trends influenced by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. | |||||||||
Agricultural – Loans secured by crop production and livestock are especially vulnerable to two risk factors that are largely outside the control of Company and borrowers: commodity prices and weather conditions. | |||||||||
Real estate – Residential and Home Equity Lines of Credit – The degree of risk in residential real estate lending depends primarily on the loan amount in relation to collateral value, the interest rate and the borrower’s ability to repay in an orderly fashion. These loans generally possess a lower inherent risk of loss than other real estate portfolio segments. Economic trends determined by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. Weak economic trends indicate that the borrowers’ capacity to repay their obligations may be deteriorating. | |||||||||
Real estate – Commercial – Commercial real estate mortgage loans generally possess a higher inherent risk of loss than other real estate portfolio segments, except land and construction loans. Adverse economic developments or an overbuilt market impact commercial real estate projects and may result in troubled loans. Trends in vacancy rates of commercial properties impact the credit quality of these loans. High vacancy rates reduce operating revenues and the ability for properties to produce sufficient cash flow to service debt obligations. | |||||||||
Real estate – Construction and Land Development – Construction and land development loans generally possess a higher inherent risk of loss than other real estate portfolio segments. A major risk arises from the necessity to complete projects within specified cost and time lines. Trends in the construction industry significantly impact the credit quality of these loans, as demand drives construction activity. In addition, trends in real estate values significantly impact the credit quality of these loans, as property values determine the economic viability of construction projects. | |||||||||
Automobile – An automobile loan portfolio is usually comprised of a large number of smaller loans scheduled to be amortized over a specific period. Most automobile loans are made directly for consumer purchases, but business vehicles may also be included. Economic trends determined by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. Weak economic trends indicate that the borrowers’ capacity to repay their obligations may be deteriorating. | |||||||||
Other – Other loans primarily consist of consumer and credit card loans and are similar in nature to automobile loans. | |||||||||
Although management believes the allowance to be adequate, ultimate losses may vary from its estimates. At least quarterly, the Board of Directors and management review the adequacy of the allowance, including consideration of the relative risks in the portfolio, current economic conditions and other factors. If the Board of Directors and management determine that changes are warranted based on those reviews, the allowance is adjusted. In addition, the Company’s primary regulators, the FDIC and DBO, as an integral part of their examination process, review the adequacy of the allowance. These regulatory agencies may require additions to the allowance based on their judgment about information available at the time of their examinations. | |||||||||
The Company also maintains a separate allowance for off-balance-sheet commitments. Management estimates anticipated losses using historical data and utilization assumptions. The allowance for these commitments totaled $141,000 at December 31, 2013 and 2012, respectively and is included in accrued interest payable and other liabilities in the consolidated balance sheet. | |||||||||
Other Real Estate | |||||||||
Other real estate owned relates to real estate acquired in full or partial settlement of loan obligations, which was $6,399,000 ($9,065,000 less a valuation allowance of $2,666,000) at December 31, 2013 and $5,295,000 ($8,517,000 less a valuation allowance of $3,222,000) at December 31, 2012. Proceeds from sales of other real estate owned totaled $2,404,000, $3,714,000 and $4,937,000 for the years ended December 31, 2013, 2012 and 2011, respectively. For the year ended December 31, 2013 the Company recorded a gain on sale of other real estate owned of $171,000. For the years ended December 31, 2012 and 2011 the Company recorded a loss on sale of other real estate owned of $16,000 and $606,000, respectively. Other real estate owned is initially recorded at fair value less cost to sell when acquired, any excess of the Bank’s recorded investment in the loan balance and accrued interest income over the estimated fair value of the property less costs to sell is charged against the allowance for loan losses. A valuation allowance for losses on other real estate is maintained to provide for temporary declines in value. The allowance is established through a provision for losses on other real estate which is included in other expenses. Subsequent gains or losses on sales or write-downs resulting from permanent impairment are also recorded in other expenses as incurred. | |||||||||
The following table provides a summary of the change in the OREO balance for the years ended December 31, 2013 and 2012: | |||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Beginning balance | $ | 5,295,000 | $ | 8,623,000 | |||||
Additions | 3,824,000 | 1,309,000 | |||||||
Dispositions | (2,234,000 | ) | (3,730,000 | ) | |||||
Write-downs | (486,000 | ) | (907,000 | ) | |||||
Ending balance | $ | 6,399,000 | $ | 5,295,000 | |||||
Intangible assets consist of core deposit intangibles related to branch acquisitions and are amortized using the straight-line method over ten years. These assets were fully amortized as of December 31, 2013. The Company evaluates the recoverability and remaining useful life annually to determine whether events or circumstances warrant a revision to the intangible asset or the remaining period of amortization. There were no such events or circumstances in 2013 or 2012. | |||||||||
Premises and Equipment | |||||||||
Premises and equipment are carried at cost. Depreciation is determined using the straight-line method over the estimated useful lives of the related assets. The useful lives of premises are estimated to be twenty to thirty years. The useful lives of furniture, fixtures and equipment are estimated to be two to ten years. Leasehold improvements are amortized over the life of the asset or the life of the related lease, whichever is shorter. When assets are sold or otherwise disposed of, the cost and related accumulated depreciation or amortization are removed from the accounts, and any resulting gain or loss is recognized in income for the period. The cost of maintenance and repairs is charged to expense as incurred. The Company evaluates premises and equipment for financial impairment as events or changes in circumstances indicate that the carrying amount of such assets may not be fully recoverable. | |||||||||
Bank Owned Life Insurance | |||||||||
The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. | |||||||||
Income Taxes | |||||||||
The Company files its income taxes on a consolidated basis with its subsidiary. Income tax expense is the total of current year income tax due or refundable and the change in deferred tax assets and liabilities. | |||||||||
Deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the reported amount of assets and liabilities and their tax bases. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. A valuation allowance is recognized if, based on the weight of available evidence management believes it is more likely than not that some portion or all of the deferred tax assets will not be realized. On the consolidated balance sheet, net deferred tax assets are included in accrued interest receivable and other assets. | |||||||||
When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. | |||||||||
Interest expense and penalties associated with unrecognized tax benefits, if any, are classified as income tax expense in the consolidated income statement. There have been no significant changes to unrecognized tax benefits or accrued interest and penalties for the years ended December 31, 2013 and 2012. | |||||||||
Earnings Per Share | |||||||||
Basic earnings per share (EPS), which excludes dilution, is computed by dividing income available to common stockholders (net income plus discount on redemption of preferred stock less preferred dividends and accretion) by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, result in the issuance of common stock which shares in the earnings of the Company. The treasury stock method has been applied to determine the dilutive effect of stock options in computing diluted EPS. | |||||||||
Comprehensive Income | |||||||||
Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale which are also recognized as separate components of equity. There were no sales of available for sale investment securities during the year ended December 31, 2013. The amount reclassified out of other accumulated comprehensive income relating to realized gains on securities available for sale was $403,000 and $666,000 for 2012 and 2011, with the related tax effect of $167,000 and $276,000 respectively. | |||||||||
Banking regulations require maintaining certain capital levels and may limit the dividend paid by the bank to the holding company or by the holding company to shareholders. | |||||||||
Fair Value of Financial Instruments | |||||||||
Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect these estimates. | |||||||||
Stock-Based Compensation | |||||||||
Compensation expense related to the Company’s Stock Option Plan, net of related tax (expense)/benefit, recorded in 2013, 2012 and 2011 totaled $37,000, $93,000 and $(38,000) or $0.01, $0.02 and $(0.01) per diluted share, respectively. Compensation expense is recognized over the vesting period on a straight line accounting basis. | |||||||||
The Company determines the fair value of options on the date of grant using a Black-Scholes-Merton option pricing model that uses assumptions based on expected option life, expected stock volatility and the risk-free interest rate. The expected volatility assumptions used by the Company are based on the historical volatility of the Company’s common stock over the most recent period commensurate with the estimated expected life of the Company’s stock options. The Company bases its expected life assumption on its historical experience and on the terms and conditions of the stock options it grants to employees. The risk-free rate is based on the U.S. Treasury yield curve for the periods within the contractual life of the options in effect at the time of the grant. The Company also makes assumptions regarding estimated forfeitures that will impact the total compensation expenses recognized under the Plans. | |||||||||
During 2011 the Company granted options to purchase 248,000 shares of common stock. The fair value of each option was estimated on the date of grant using the following assumptions. | |||||||||
2011 | |||||||||
Expected life of stock options | 5.3 years | ||||||||
Risk free interest rate | 2.26 | % | |||||||
Volatility | 46.1 | % | |||||||
Dividend yields | 3.05 | % | |||||||
Weighted-average fair value of options granted during the year | $ | 0.99 | |||||||
No options were granted during the years ended December 31, 2013 and 2012. | |||||||||
In February 2013, the FASB issued an accounting standards update to finalize the reporting requirements for reclassifications of amounts out of accumulated other comprehensive income (“AOCI”). Items reclassified out of AOCI to net income in their entirety must have the effect of the reclassification disclosed according to the respective income statement line item. This information must be provided either on the face of the financial statements by income statement line item, or in a footnote. For public companies, the amendments in the update became effective for interim and annual periods beginning on or after December 15, 2012. As of December 31, 2013, the impact of this update on the Company’s disclosures was minimal as the only changes to AOCI were changes in market values related to available for sale securities. | |||||||||
In July 2013, the Financial Accounting Standards Board issued Accounting Standards Update 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). Current GAAP does not include explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The adoption of ASU 2013-11 will require an unrecognized tax benefit, or a portion of an unrecognized tax benefit to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, unless an exception applies. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2013. The Company is currently evaluating the effect that the provisions of ASU 2013-11 will have on its financial statements. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||
4 | FAIR VALUE MEASUREMENTS | ||||||||||||||||||||
The Company measures fair value under the fair value hierarchy described below. | |||||||||||||||||||||
Level 1: Quoted prices for identical instruments traded in active exchange markets. | |||||||||||||||||||||
Level 2: Quoted prices (unadjusted) for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable or can be corroborated by observable market data. | |||||||||||||||||||||
Level 3: Model based techniques that use one significant assumption not observable in the market. These unobservable assumptions reflect the Company’s estimates of assumptions that market participants would use on pricing the asset or liability. Valuation techniques include management judgment and estimation which may be significant. | |||||||||||||||||||||
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. | |||||||||||||||||||||
Management monitors the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported at the beginning of the reporting period. | |||||||||||||||||||||
Management evaluates the significance of transfers between levels based upon the nature of the financial instrument and size of the transfer relative to total assets, total liabilities or total earnings. | |||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||
The carrying amounts and estimated fair values of financial instruments, at December 31, 2013 and December 31, 2012 are as follows: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||||||
Financial assets: | Carrying | Level 1 | Level 2 | Level 3 | Total Fair | ||||||||||||||||
Value | Value | ||||||||||||||||||||
Cash and cash equivalents | $ | 49,917,000 | $ | 49,917,000 | $ | 49,917,000 | |||||||||||||||
Investment securities | 90,343,000 | $ | 90,343,000 | 90,343,000 | |||||||||||||||||
Loans, net | 334,374,000 | $ | 337,392,000 | 337,392,000 | |||||||||||||||||
FHLB stock | 2,226,000 | N/A | |||||||||||||||||||
Accrued interest receivable | 1,691,000 | 260,000 | 1,431,000 | 1,691,000 | |||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 449,439,000 | 386,757,000 | 62,743,000 | 449,500,000 | |||||||||||||||||
Repurchase Agreements | 9,109,000 | 9,109,000 | 9,109,000 | ||||||||||||||||||
Note Payable | 3,000,000 | 3,000,000 | 3,000,000 | ||||||||||||||||||
Subordinated debenture | 7,295,000 | 7,121,000 | 7,121,000 | ||||||||||||||||||
Junior subordinated deferrable interest debentures | 10,310,000 | 7,193,000 | 7,193,000 | ||||||||||||||||||
Accrued interest payable | 98,000 | 6,000 | 58,000 | 34,000 | 98,000 | ||||||||||||||||
Fair Value Measurements at December 31, 2012 Using: | |||||||||||||||||||||
Financial assets: | Carrying | Level 1 | Level 2 | Level 3 | Total Fair | ||||||||||||||||
Value | Value | ||||||||||||||||||||
Cash and cash equivalents | $ | 44,675,000 | $ | 44,675,000 | $ | 44,675,000 | |||||||||||||||
Investment securities | 80,964,000 | $ | 80,964,000 | 80,964,000 | |||||||||||||||||
Loans, net | 310,271,000 | $ | 313,929,000 | 313,929,000 | |||||||||||||||||
FHLB stock | 1,950,000 | N/A | |||||||||||||||||||
Accrued interest receivable | 1,677,000 | 248,000 | 1,429,000 | 1,677,000 | |||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 411,562,000 | 340,986,000 | 70,696,000 | 411,682,000 | |||||||||||||||||
Repurchase Agreements | 7,377,000 | 7,377,000 | 7,377,000 | ||||||||||||||||||
Junior subordinated deferrable interest debentures | 10,310,000 | 3,191,000 | 3,191,000 | ||||||||||||||||||
Accrued interest payable | 1,115,000 | 6,000 | 90,000 | 1,019,000 | 1,115,000 | ||||||||||||||||
These estimates do not reflect any premium or discount that could result from offering the Company’s entire holdings of a particular financial instrument for sale at one time, nor do they attempt to estimate the value of anticipated future business related to the instruments. In addition, the tax ramifications related to the realization of unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of these estimates. | |||||||||||||||||||||
The following methods and assumptions were used by management to estimate the fair value of its financial instruments: | |||||||||||||||||||||
Cash and cash equivalents: The carrying amounts of cash and short-term instruments approximate fair values and are classified as Level 1. | |||||||||||||||||||||
Investment securities: Fair values for securities available for sale are generally determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2). | |||||||||||||||||||||
Loans: Fair values of loans, excluding loans held for sale, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. | |||||||||||||||||||||
FHLB stock: It was not practicable to determine the fair value of the FHLB stock due to restrictions placed on its transferability. | |||||||||||||||||||||
Deposits: The fair values disclosed for demand deposits, including interest and non-interest demand accounts, savings, and certain types of money market accounts are, by definition, equal to the carrying amount at the reporting date resulting in a Level 1 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. | |||||||||||||||||||||
Repurchase agreements: The fair value of securities sold under repurchase agreements is estimated based on bid quotations received from brokers using observable inputs and are included as Level 2. | |||||||||||||||||||||
Note Payable: The fair value of the Company’s Note Payable is estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. | |||||||||||||||||||||
Subordinated debentures: The fair values of the Company’s Subordinated Debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. | |||||||||||||||||||||
Junior subordinated deferrable interest debentures: The fair values of the Company’s Subordinated Debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. | |||||||||||||||||||||
Accrued interest and payable: The carrying amounts of accrued interest approximate fair value and are considered to be linked in classification to the asset or liability for which they relate. | |||||||||||||||||||||
Commitments to extend credit and letters of credit: The fair value of commitments are estimated using the fees currently charged to enter into similar agreements and are not significant and, therefore, not presented. Commitments to extend credit are primarily for variable rate loans and letters of credit. | |||||||||||||||||||||
Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding current economic conditions, risk characteristics of various financial instruments and other factors. Those estimates that are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision are included in Level 3. Changes in assumptions could significantly affect the fair values presented. | |||||||||||||||||||||
The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring and non-recurring basis as of December 31, 2013 and December 31, 2012, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value: | |||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis at December 31, 2013 are summarized below: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||||
Total Fair | Quoted Prices in | Significant Other | Significant | ||||||||||||||||||
Value | Active Markets for | Observable Inputs | Unobservable | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
U.S. Government-sponsored agencies | $ | 27,097,000 | $ | 27,097,000 | |||||||||||||||||
U.S. Government-sponsored agencies collateralized by mortgage obligations- residential | 61,875,000 | 61,875,000 | |||||||||||||||||||
Obligations of states and political subdivisions | 1,371,000 | 1,371,000 | |||||||||||||||||||
$ | 90,343,000 | $ | — | $ | 90,343,000 | $ | — | ||||||||||||||
Assets and liabilities measured at fair value on a recurring basis at December 31, 2012 are summarized below: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||
Total Fair | Quoted Prices in | Significant Other | Significant | ||||||||||||||||||
Value | Active Markets for | Observable | Unobservable | ||||||||||||||||||
Identical Assets | Inputs (Level 2) | Inputs (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
U.S. Government-sponsored agencies | $ | 38,442,000 | $ | 38,442,000 | |||||||||||||||||
U.S. Government-sponsored agencies collateralized by mortgage obligations-residential | 42,522,000 | 42,522,000 | |||||||||||||||||||
$ | 80,964,000 | $ | — | $ | 80,964,000 | $ | — | ||||||||||||||
The fair value of securities available-for-sale equals quoted market price, if available. If quoted market prices are not available, fair value is determined using quoted market prices for similar securities or matrix pricing. There were no changes in the valuation techniques used during 2013 or 2012. Transfers between hierarchy measurement levels are recognized by the Company as of the beginning of the reporting period. Changes in fair market value are recorded in other comprehensive income. | |||||||||||||||||||||
Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2013 are summarized below: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||||
Total Fair Value | Quoted Prices in | Significant Other | Significant | Total Gains | |||||||||||||||||
Active Markets for | Observable Inputs | Unobservable | (Losses) | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs | |||||||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial | $ | 767,000 | $ | — | $ | — | $ | 767,000 | $ | (16,000 | ) | ||||||||||
Agricultural | — | — | — | ||||||||||||||||||
Real estate – residential | 28,000 | 28,000 | (38,000 | ) | |||||||||||||||||
Real estate – commercial | 1,377,000 | 1,377,000 | (28,000 | ) | |||||||||||||||||
Real estate – construction and land development | — | — | (28,000 | ) | |||||||||||||||||
Equity lines of credit | 360,000 | 360,000 | 86,000 | ||||||||||||||||||
Auto | — | — | — | ||||||||||||||||||
Other | — | — | — | ||||||||||||||||||
Total impaired loans | 2,532,000 | — | — | 2,532,000 | (24,000 | ) | |||||||||||||||
Other real estate: | |||||||||||||||||||||
Real estate – residential | 873,000 | 873,000 | (101,000 | ) | |||||||||||||||||
Real estate – commercial | 983,000 | 983,000 | (9,000 | ) | |||||||||||||||||
Real estate – construction and land development | 4,289,000 | 4,289,000 | (376,000 | ) | |||||||||||||||||
Equity lines of credit | 254,000 | 254,000 | — | ||||||||||||||||||
Total other real estate | 6,399,000 | — | — | 6,399,000 | (486,000 | ) | |||||||||||||||
$8,931,000 | $ | — | $ | — | $ | 8,931,000 | $ | (511,000 | ) | ||||||||||||
Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2012 are summarized below: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||
Total Fair Value | Quoted Prices in | Significant Other | Significant | Total | |||||||||||||||||
Active Markets for | Observable | Unobservable | Gains | ||||||||||||||||||
Identical Assets | Inputs | Inputs | (Losses) | ||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial | $ | 2,933,000 | $ | — | $ | — | $ | 2,933,000 | $ | (346,000 | ) | ||||||||||
Agricultural | 379,000 | 379,000 | (1,000 | ) | |||||||||||||||||
Real estate – residential | 1,140,000 | 1,140,000 | (308,000 | ) | |||||||||||||||||
Real estate – commercial | 3,303,000 | 3,303,000 | (283,000 | ) | |||||||||||||||||
Real estate – construction and land development | 3,055,000 | 3,055,000 | (712,000 | ) | |||||||||||||||||
Equity lines of credit | 690,000 | 690,000 | (392,000 | ) | |||||||||||||||||
Auto | — | — | — | ||||||||||||||||||
Other | — | — | (2,000 | ) | |||||||||||||||||
Total impaired loans | 11,500,000 | — | — | 11,500,000 | (2,044,000 | ) | |||||||||||||||
Other real estate: | |||||||||||||||||||||
Real estate – residential | 818,000 | 818,000 | (85,000 | ) | |||||||||||||||||
Real estate – commercial | 1,953,000 | 1,953,000 | (287,000 | ) | |||||||||||||||||
Real estate – construction and land development | 2,407,000 | 2,407,000 | (535,000 | ) | |||||||||||||||||
Equity lines of credit | 117,000 | 117,000 | — | ||||||||||||||||||
Total other real estate | 5,295,000 | — | — | 5,295,000 | (907,000 | ) | |||||||||||||||
$16,795,000 | $ | — | $ | — | $ | 16,795,000 | $ | (2,951,000 | ) | ||||||||||||
The Company has no liabilities which are reported at fair value. | |||||||||||||||||||||
The following methods were used to estimate fair value. | |||||||||||||||||||||
Impaired Loans: The fair value of collateral dependent impaired loans with specific allocations of the allowance for loan losses or loans that have been subject to partial charge-offs are generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Total losses of $24,000 and $2,044,000 represent impairment charges recognized during the years ended December 31, 2013 and 2012, respectively, related to the above impaired loans. | |||||||||||||||||||||
Other Real Estate: Nonrecurring adjustments to certain commercial and residential real estate properties classified as other real estate owned (OREO) are measured at fair value, less costs to sell. Fair values are based on recent real estate appraisals. These appraisals may use a single valuation approach or a combination of approaches including comparable sales and the income approach. | |||||||||||||||||||||
Appraisals for both collateral-dependent impaired loans and other real estate are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the Loan Administration Department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On a quarterly basis, the Company compares the actual selling price of similar collateral that has been liquidated to the most recent appraised value for unsold properties to determine what additional adjustment, if any, should be made to the appraisal value to arrive at fair value. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. | |||||||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2013 and 2012 (dollars in thousands): | |||||||||||||||||||||
Description | Fair Value | Fair Value | Valuation Technique | Significant Unobservable | Range | Range | |||||||||||||||
12/31/13 | 12/31/12 | Input | (Weighted | (Weighted Average) | |||||||||||||||||
Average) | 12/31/12 | ||||||||||||||||||||
12/31/13 | |||||||||||||||||||||
Impaired Loans: | |||||||||||||||||||||
Commercial | $ | 767 | $ | 2,933 | Sales Comparison | Adjustment for differences between comparable sales | 0% (0%) | 0% - 28% (10%) | |||||||||||||
Agricultural | $ | — | $ | 379 | Sales Comparison | Adjustment for differences between comparable sales | N/A | 1% - 11% (7%) | |||||||||||||
RE – Residential | $ | 28 | $ | 1,140 | Sales Comparison | Adjustment for differences between comparable sales | 8% (8%) | 8% - 10% (8%) | |||||||||||||
RE – Commercial | $ | 1,377 | $ | 3,303 | Sales Comparison | Adjustment for differences between comparable sales | 10% - 12% (11%) | 8% - 11% (9%) | |||||||||||||
Land and Construction | $ | — | $ | 3,055 | Sales Comparison | Adjustment for differences between comparable sales | N/A | 8% - 12% (11%) | |||||||||||||
Equity Lines of Credit | $ | 360 | $ | 690 | Sales Comparison | Adjustment for differences between comparable sales | 8% (8%) | 8% (8%) | |||||||||||||
Other Real Estate: | |||||||||||||||||||||
RE – Residential | $ | 873 | $ | 818 | Sales Comparison | Adjustment for differences between comparable sales | 10% (10%) | 10% (10%) | |||||||||||||
Land and Construction | $ | 4,289 | $ | 2,407 | Sales Comparison | Adjustment for differences between comparable sales | 10% (10%) | 10% (10%) | |||||||||||||
RE – Commercial | $ | 983 | $ | 1,953 | Sales Comparison | Adjustment for differences between comparable sales | 10% (10%) | 10% (10%) | |||||||||||||
Equity Lines of Credit | $ | 254 | $ | 117 | Sales Comparison | Adjustment for differences between comparable sales | 10% (10%) | 10% (10%) | |||||||||||||
Investment_Securities
Investment Securities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||||||||
5 | INVESTMENT SECURITIES | ||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities at December 31, 2013 and 2012 consisted of the following: | |||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Available-for-Sale | Cost | Gains | Losses | Value | |||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored agencies | $ | 27,132,000 | $ | 40,000 | $ | (75,000 | ) | $ | 27,097,000 | ||||||||||||||||
U.S. Government-sponsored agencies collateralized by mortgage obligations- residential | 63,807,000 | 22,000 | (1,954,000 | ) | 61,875,000 | ||||||||||||||||||||
Obligations of states and political subdivisions | 1,384,000 | 4,000 | (17,000 | ) | 1,371,000 | ||||||||||||||||||||
$ | 92,323,000 | $ | 66,000 | $ | (2,046,000 | ) | $ | 90,343,000 | |||||||||||||||||
Net unrealized loss on available-for-sale investment securities totaling $1,980,000 were recorded, net of $817,000 in tax benefits, as accumulated other comprehensive income within shareholders’ equity at December 31, 2013. No securities were sold during the year ended December 31, 2013. | |||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Available-for-Sale | Cost | Gains | Losses | Value | |||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored agencies | $ | 38,291,000 | $ | 154,000 | $ | (3,000 | ) | $ | 38,442,000 | ||||||||||||||||
U.S. Government-sponsored agencies collateralized by mortgage obligations- residential | 42,112,000 | 434,000 | (24,000 | ) | 42,522,000 | ||||||||||||||||||||
$ | 80,403,000 | $ | 588,000 | $ | (27,000 | ) | $ | 80,964,000 | |||||||||||||||||
Net unrealized gains on available-for-sale investment securities totaling $561,000 were recorded, net of $232,000 in tax expense, as accumulated other comprehensive income within shareholders’ equity at December 31, 2012. During the year ended December 31, 2012, the Company sold twenty-five available-for-sale investment securities for $20,773,000, recording a $403,000 gain on sale. No securities were sold at a loss. | |||||||||||||||||||||||||
Net unrealized gains on available-for-sale investment securities totaling $268,000 were recorded, net of $110,000 in tax expense, as accumulated other comprehensive income within shareholders’ equity at December 31, 2011. During the year ended December 31, 2011 the Company sold twenty-seven available-for-sale investment securities for total proceeds of $29,404,000. The Company realized a gain on sale from twenty-five of these securities totaling $690,000 and a loss on sale on two securities of $24,000 resulting in the recognition of a $666,000 net gain on sale. | |||||||||||||||||||||||||
There were no transfers of available-for-sale investment securities during the years ended December 31, 2013, 2012 or 2011. There were no securities classified as held-to-maturity at December 31, 2013 or December 31, 2012. | |||||||||||||||||||||||||
Investment securities with unrealized losses at December 31, 2013 and 2012 are summarized and classified according to the duration of the loss period as follows: | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
December 31, 2013 | Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government- sponsored agencies | $ | 5,930,000 | $ | 75,000 | $ | 5,930,000 | $ | 75,000 | |||||||||||||||||
U.S. Government agencies collateral- ized by mortgage obligations-residential | 53,603,000 | 1,700,000 | $ | 4,317,000 | $ | 254,000 | 57,920,000 | 1,954,000 | |||||||||||||||||
Obligations of states and political subdi- visions | 928,000 | 17,000 | — | — | 928,000 | 17,000 | |||||||||||||||||||
$ | 60,461,000 | $ | 1,792,000 | $ | 4,317,000 | $ | 254,000 | $ | 64,778,000 | $ | 2,046,000 | ||||||||||||||
Less than 12 Months | |||||||||||||||||||||||||
Fair | Unrealized | ||||||||||||||||||||||||
31-Dec-12 | Value | Losses | |||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored agencies | $ | 2,004,000 | $ | 3,000 | |||||||||||||||||||||
U.S. Government- sponsored agencies collateralized by mortgage obligations-residential | 7,002,000 | 24,000 | |||||||||||||||||||||||
$ | 9,006,000 | $ | 27,000 | ||||||||||||||||||||||
There were no securities in a loss position for more than one year as of December 31, 2012. | |||||||||||||||||||||||||
At December 31, 2013, the Company held 77 securities of which 56 were in a loss position. Of the securities in a loss position, all but 4 were in a loss position for less than twelve months. Of the 56 securities 6 are U.S. Government-sponsored agencies 46 are U.S. Government-sponsored agencies collateralized by residential mortgage obligations and 4 were Obligations of states and political subdivisions. The unrealized losses relate principally to market rate conditions. All of the securities continue to pay as scheduled. When analyzing an issuer’s financial condition, management considers the length of time and extent to which the market value has been less than cost; the historical and implied volatility of the security; the financial condition of the issuer of the security; and the Company’s intent and ability to hold the security to recovery. As of December 31, 2013, management does not have the intent to sell these securities nor does it believe it is more likely than not that it will be required to sell these securities before the recovery of its amortized cost basis. Based on the Company’s evaluation of the above and other relevant factors, the Company does not believe the securities that are in an unrealized loss position as of December 31, 2013 are other than temporarily impaired. | |||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities at December 31, 2013 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
Amortized | Estimated Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Within one year | $ | 1,000,000 | 1,003,000 | ||||||||||||||||||||||
After one year through five years | 26,132,000 | 26,094,000 | |||||||||||||||||||||||
After five years through ten years | 1,384,000 | 1,371,000 | |||||||||||||||||||||||
Investment securities not due at a single maturity date: | |||||||||||||||||||||||||
Government-sponsored mortgage-backed securities | 63,807,000 | 61,875,000 | |||||||||||||||||||||||
$ | 92,323,000 | $ | 90,343,000 | ||||||||||||||||||||||
Investment securities with amortized costs totaling $54,373,000 and $44,305,000 and estimated fair values totaling $53,493,000 and $44,535,000 at December 31, 2013 and 2012, respectively, were pledged to secure deposits and repurchase agreements. |
Loans_and_the_Allowance_for_Lo
Loans and the Allowance for Loan Losses | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Loans and the Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||||||||||
6 | LOANS AND THE ALLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||||||||||||||
Outstanding loans are summarized below: | |||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Commercial | $ | 32,612,000 | $ | 29,552,000 | |||||||||||||||||||||||||||||||||
Agricultural | 30,647,000 | 35,124,000 | |||||||||||||||||||||||||||||||||||
Real estate – residential | 31,322,000 | 34,666,000 | |||||||||||||||||||||||||||||||||||
Real estate – commercial | 155,942,000 | 139,546,000 | |||||||||||||||||||||||||||||||||||
Real estate – construction and land development | 17,793,000 | 15,801,000 | |||||||||||||||||||||||||||||||||||
Equity lines of credit | 35,800,000 | 36,873,000 | |||||||||||||||||||||||||||||||||||
Auto | 30,305,000 | 19,283,000 | |||||||||||||||||||||||||||||||||||
Other | 4,130,000 | 4,212,000 | |||||||||||||||||||||||||||||||||||
338,551,000 | 315,057,000 | ||||||||||||||||||||||||||||||||||||
Deferred loan costs, net | 1,340,000 | 900,000 | |||||||||||||||||||||||||||||||||||
Allowance for loan losses | (5,517,000 | ) | (5,686,000 | ) | |||||||||||||||||||||||||||||||||
$ | 334,374,000 | $ | 310,271,000 | ||||||||||||||||||||||||||||||||||
Changes in the allowance for loan losses were as follows: | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 5,686,000 | $ | 6,908,000 | $ | 7,324,000 | |||||||||||||||||||||||||||||||
Provision charged to operations | 1,400,000 | 2,350,000 | 3,500,000 | ||||||||||||||||||||||||||||||||||
Losses charged to allowance | (1,915,000 | ) | (3,901,000 | ) | (4,247,000 | ) | |||||||||||||||||||||||||||||||
Recoveries | 346,000 | 329,000 | 331,000 | ||||||||||||||||||||||||||||||||||
Balance, end of year | $ | 5,517,000 | $ | 5,686,000 | $ | 6,908,000 | |||||||||||||||||||||||||||||||
The recorded investment in impaired loans totaled $9,815,000 and $18,850,000 at December 31, 2013 and 2012, respectively. The Company had specific allowances for loan losses of $629,000 on impaired loans of $2,322,000 at December 31, 2013 as compared to specific allowances for loan losses of $1,186,000 on impaired loans of $14,334,000 at December 31, 2012. The balance of impaired loans in which no specific reserves were required totaled $7,493,000 and $4,516,000 at December 31, 2013 and 2012, respectively. The average recorded investment in impaired loans for the years ended December 31, 2013, 2012 and 2011 was $10,182,000 $19,816,000 and $25,536,000, respectively. The Company recognized $298,000, $597,000 and $666,000 in interest income on impaired loans during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||||||||||||||
Included in impaired loans are troubled debt restructurings. A troubled debt restructuring is a formal restructure of a loan where the Company for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower. The concessions may be granted in various forms to include one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. | |||||||||||||||||||||||||||||||||||||
In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. | |||||||||||||||||||||||||||||||||||||
The carrying value of troubled debt restructurings at December 31, 2013 and December 31, 2012 was $7,616,000 and $12,296,000, respectively. The Company has allocated $284,000 and $348,000 of specific reserves on loans to customers whose loan terms have been modified in troubled debt restructurings as of December 31, 2013 and December 31, 2012, respectively. The Company has not committed to lend additional amounts on loans classified as troubled debt restructurings at December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||||
During the twelve month period ended December 31, 2013, the terms of certain loans were modified as troubled debt restructurings. Modifications involving a reduction of the stated interest rate of the loan was for periods ranging from 1 month to 10 years. During the twelve month period ended December 31, 2012, the terms of certain loans were modified as troubled debt restructurings. Modifications involving a reduction of the stated interest rate of the loan was for periods ranging from 1 month to 10 years. For the periods described above, modifications involving an extension of the maturity date were for periods ranging from 1 month to 10 years | |||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructurings that occurred during the twelve months ending December 31, 2013: | |||||||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||||||
Loans | Outstanding | Recorded | |||||||||||||||||||||||||||||||||||
Recorded Investment | Investment | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||||||
Auto | 1 | $ | 8,000 | $ | 7,000 | ||||||||||||||||||||||||||||||||
Other | 1 | 9,000 | 9,000 | ||||||||||||||||||||||||||||||||||
Total | 2 | $ | 17,000 | $ | 16,000 | ||||||||||||||||||||||||||||||||
The troubled debt restructurings described above resulted in no allowance for loan losses or charge-offs during the year ending December 31, 2013. | |||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructurings that occurred during the twelve months ending December 31, 2012: | |||||||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||||||
Loans | Outstanding | Recorded | |||||||||||||||||||||||||||||||||||
Recorded Investment | Investment | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||||||
Commercial | 1 | $ | 24,000 | $ | 24,000 | ||||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||||||
Residential | 2 | 819,000 | 800,000 | ||||||||||||||||||||||||||||||||||
Construction and land development | 3 | 289,000 | 289,000 | ||||||||||||||||||||||||||||||||||
Commercial | 3 | 2,497,000 | 2,491,000 | ||||||||||||||||||||||||||||||||||
Auto | 2 | 11,000 | 11,000 | ||||||||||||||||||||||||||||||||||
Total | 11 | $ | 3,640,000 | $ | 3,615,000 | ||||||||||||||||||||||||||||||||
The troubled debt restructurings described above decreased the allowance for loan losses by $118,000 during the year ending December 31, 2012. The troubled debt restructurings described above did not result in charge offs during the year ending December 31, 2012. | |||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the twelve months ended December 31, 2013. | |||||||||||||||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||||||||||||||
Loans | Investment | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||||||
Real estate – construction and land development | 1 | $ | 837,000 | ||||||||||||||||||||||||||||||||||
Total | 1 | $ | 837,000 | ||||||||||||||||||||||||||||||||||
The troubled debt restructurings that subsequently defaulted described above increased the allowance for loan losses by $158,000 and resulted in no charge-offs during the year ending December 31, 2013. | |||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the twelve months ended December 31, 2012. | |||||||||||||||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||||||||||||||
Loans | Investment | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||||||
Real estate – construction and land development | 1 | $ | 2,978,000 | ||||||||||||||||||||||||||||||||||
Total | 1 | $ | 2,978,000 | ||||||||||||||||||||||||||||||||||
The troubled debt restructurings that subsequently defaulted described above decreased the allowance for loan losses by $757,000 and resulted in charge-offs of $1,426,000 during the year ending December 31, 2012. | |||||||||||||||||||||||||||||||||||||
The terms of certain other loans were modified during the years ending December 31, 2013 and 2012 that did not meet the definition of a troubled debt restructuring. These loans have a total recorded investment as of December 31, 2013 and 2012 of $14 million and $9 million, respectively. | |||||||||||||||||||||||||||||||||||||
These loans which were modified during the years ended December 31, 2013 and 2012 did not meet the definition of a troubled debt restructuring as the modification was a delay in a payment ranging from 30 days to 3 months that was considered to be insignificant or the borrower was not considered to be experiencing financial difficulties. | |||||||||||||||||||||||||||||||||||||
At December 31, 2013 and 2012, nonaccrual loans totaled $5,519,000 and $13,683,000, respectively. Interest foregone on nonaccrual loans totaled $280,000, $646,000 and $510,000 for the twelve months ended December 31, 2013, 2012 and 2011, respectively. Loans past due 90 days or more and on accrual status totaled $17,000 and $15,000 at December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||
Salaries and employee benefits totaling $1,337,000, $953,000 and $706,000 have been deferred as loan origination costs during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||||||||||||||
The following tables show the loan portfolio allocated by management’s internal risk ratings at the dates indicated, in thousands: | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
Credit Exposure Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | Commercial | Agricultural | Real | Real Estate- | Real Estate- | Equity | Total | ||||||||||||||||||||||||||||||
Estate- | Commercial | Construction | LOC | ||||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||
Pass | $ | 30,477 | $ | 30,213 | $ | 30,007 | $ | 147,605 | $ | 17,733 | $ | 34,742 | $ | 290,777 | |||||||||||||||||||||||
Watch | 1,420 | 345 | 346 | 3,484 | — | 157 | 5,752 | ||||||||||||||||||||||||||||||
Substandard | 665 | 89 | 969 | 4,853 | 60 | 890 | 7,526 | ||||||||||||||||||||||||||||||
Doubtful | 50 | — | — | — | — | 11 | 61 | ||||||||||||||||||||||||||||||
Total | $ | 32,612 | $ | 30,647 | $ | 31,322 | $ | 155,942 | $ | 17,793 | $ | 35,800 | $ | 304,116 | |||||||||||||||||||||||
Commercial Credit Exposure Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||||||
31-Dec-12 | Commercial | Agricultural | Real Estate- | Real Estate- | Real Estate- | Equity | Total | ||||||||||||||||||||||||||||||
Residential | Commercial | Construction | LOC | ||||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||
Pass | $ | 27,260 | $ | 33,801 | $ | 31,239 | $ | 128,919 | $ | 10,863 | $ | 34,142 | $ | 266,224 | |||||||||||||||||||||||
Watch | 1,145 | 466 | 751 | 3,237 | 149 | 965 | 6,713 | ||||||||||||||||||||||||||||||
Substandard | 1,138 | 857 | 2,676 | 7,390 | 4,789 | 1,766 | 18,616 | ||||||||||||||||||||||||||||||
Doubtful | 9 | — | — | — | — | — | 9 | ||||||||||||||||||||||||||||||
Total | $ | 29,552 | $ | 35,124 | $ | 34,666 | $ | 139,546 | $ | 15,801 | $ | 36,873 | $ | 291,562 | |||||||||||||||||||||||
Consumer Credit Exposure | Consumer Credit Exposure | ||||||||||||||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity | Credit Risk Profile Based on Payment Activity | ||||||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Auto | Other | Total | Auto | Other | Total | ||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||
Performing | $ | 30,228 | $ | 4,113 | $ | 34,341 | $ | 19,239 | $ | 4,193 | $ | 23,432 | |||||||||||||||||||||||||
Non-performing | 77 | 17 | 94 | 44 | 19 | 63 | |||||||||||||||||||||||||||||||
Total | $ | 30,305 | $ | 4,130 | $ | 34,435 | $ | 19,283 | $ | 4,212 | $ | 23,495 | |||||||||||||||||||||||||
The following tables show the allocation of the allowance for loan losses at the dates indicated, in thousands: | |||||||||||||||||||||||||||||||||||||
Commercial | Agricultural | Real Estate- | Real Estate- | Real Estate- | Equity LOC | Auto | Other | Total | |||||||||||||||||||||||||||||
Residential | Commercial | Construction | |||||||||||||||||||||||||||||||||||
Year ended 12/31/13: | |||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 855 | $ | 159 | $ | 894 | $ | 1,656 | $ | 950 | $ | 736 | $ | 289 | $ | 147 | $ | 5,686 | |||||||||||||||||||
Charge-offs | (401 | ) | — | (257 | ) | (162 | ) | (735 | ) | (92 | ) | (134 | ) | (134 | ) | (1,915 | ) | ||||||||||||||||||||
Recoveries | 140 | — | 94 | 15 | — | 1 | 55 | 41 | 346 | ||||||||||||||||||||||||||||
Provision | 191 | 5 | (93 | ) | 265 | 729 | (32 | ) | 239 | 96 | 1,400 | ||||||||||||||||||||||||||
Ending balance | $ | 785 | $ | 164 | $ | 638 | $ | 1,774 | $ | 944 | $ | 613 | $ | 449 | $ | 150 | $ | 5,517 | |||||||||||||||||||
Year ended 12/31/12: | |||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 1,025 | $ | 330 | $ | 698 | $ | 1,925 | $ | 2,006 | $ | 635 | $ | 95 | $ | 194 | $ | 6,908 | |||||||||||||||||||
Charge-offs | (909 | ) | (250 | ) | (358 | ) | (258 | ) | (1,524 | ) | (377 | ) | (72 | ) | (153 | ) | (3,901 | ) | |||||||||||||||||||
Recoveries | 66 | — | 1 | 7 | 81 | 46 | 51 | 77 | 329 | ||||||||||||||||||||||||||||
Provision | 673 | 79 | 553 | (18 | ) | 387 | 432 | 215 | 29 | 2,350 | |||||||||||||||||||||||||||
Ending balance | $ | 855 | $ | 159 | $ | 894 | $ | 1,656 | $ | 950 | $ | 736 | $ | 289 | $ | 147 | $ | 5,686 | |||||||||||||||||||
Year ended 12/31/11: | |||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 760 | $ | 184 | $ | 632 | $ | 1,819 | $ | 3,011 | $ | 652 | $ | 112 | $ | 154 | $ | 7,324 | |||||||||||||||||||
Charge-offs | (446 | ) | (93 | ) | (147 | ) | (336 | ) | (2,603 | ) | (311 | ) | (64 | ) | (247 | ) | (4,247 | ) | |||||||||||||||||||
Recoveries | 93 | 106 | 1 | 17 | 5 | 2 | 82 | 25 | 331 | ||||||||||||||||||||||||||||
Provision | 618 | 133 | 212 | 425 | 1,593 | 292 | (35 | ) | 262 | 3,500 | |||||||||||||||||||||||||||
Ending balance | $ | 1,025 | $ | 330 | $ | 698 | $ | 1,925 | $ | 2,006 | $ | 635 | $ | 95 | $ | 194 | $ | 6,908 | |||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 79 | $ | — | $ | 200 | $ | 232 | $ | 13 | $ | 105 | $ | — | $ | — | $ | 629 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 706 | $ | 164 | $ | 438 | $ | 1,542 | $ | 931 | $ | 508 | $ | 449 | $ | 150 | $ | 4,888 | |||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||
Ending balance | $ | 32,612 | $ | 30,647 | $ | 31,322 | $ | 155,942 | $ | 17,793 | $ | 35,800 | $ | 30,305 | $ | 4,130 | $ | 338,551 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1,324 | $ | 267 | $ | 2,475 | $ | 3,074 | $ | 1,737 | $ | 861 | $ | 77 | $ | — | $ | 9,815 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 31,288 | $ | 30,380 | $ | 28,847 | $ | 152,868 | $ | 16,056 | $ | 34,939 | $ | 30,228 | $ | 4,130 | $ | 328,736 | |||||||||||||||||||
The following table shows the allocation of the allowance for loan losses at the date indicated, in thousands: | |||||||||||||||||||||||||||||||||||||
Year ended 12/31/12: | Commercial | Agricultural | Real Estate- | Real Estate- | Real Estate- | Equity LOC | Auto | Other | Total | ||||||||||||||||||||||||||||
Residential | Commercial | Construction | |||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 192 | $ | 1 | $ | 459 | $ | 284 | $ | 68 | $ | 180 | $ | — | $ | 2 | $ | 1,186 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 663 | $ | 158 | $ | 435 | $ | 1,372 | $ | 882 | $ | 556 | $ | 289 | $ | 145 | $ | 4,500 | |||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||
Ending balance | $ | 29,552 | $ | 35,124 | $ | 34,666 | $ | 139,546 | $ | 15,801 | $ | 36,873 | $ | 19,283 | $ | 4,212 | $ | 315,057 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 3,478 | $ | 647 | $ | 3,598 | $ | 4,528 | $ | 5,191 | $ | 1,360 | $ | 44 | $ | 4 | $ | 18,850 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 26,074 | $ | 34,477 | $ | 31,068 | $ | 135,018 | $ | 10,610 | $ | 35,513 | $ | 19,239 | $ | 4,208 | $ | 296,207 | |||||||||||||||||||
The following tables show an aging analysis of the loan portfolio by the time past due, in thousands: | |||||||||||||||||||||||||||||||||||||
31-Dec-13 | 30-89 Days | 90 Days and | Nonaccrual | Total | Current | Total | |||||||||||||||||||||||||||||||
Past Due | Still Accruing | Past Due | |||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 129 | $ | — | $ | 1,295 | $ | 1,424 | $ | 31,188 | $ | 32,612 | |||||||||||||||||||||||||
Agricultural | — | — | — | — | 30,647 | 30,647 | |||||||||||||||||||||||||||||||
Real estate – construction | 25 | — | 18 | 43 | 17,750 | 17,793 | |||||||||||||||||||||||||||||||
Real estate | 304 | — | 2,369 | 2,673 | 153,269 | 155,942 | |||||||||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||||||||||
Real estate | 695 | — | 899 | 1,594 | 29,728 | 31,322 | |||||||||||||||||||||||||||||||
Equity LOC | 72 | — | 861 | 933 | 34,867 | 35,800 | |||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||
Auto | 244 | — | 77 | 321 | 29,984 | 30,305 | |||||||||||||||||||||||||||||||
Other | 63 | 17 | — | 80 | 4,050 | 4,130 | |||||||||||||||||||||||||||||||
Total | $ | 1,532 | $ | 17 | $ | 5,519 | $ | 7,068 | $ | 331,483 | $ | 338,551 | |||||||||||||||||||||||||
31-Dec-12 | 30-89 Days | 90 Days and | Nonaccrual | Total | Current | Total | |||||||||||||||||||||||||||||||
Past Due | Still Accruing | Past Due | |||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 329 | $ | — | $ | 3,303 | $ | 3,632 | $ | 25,920 | $ | 29,552 | |||||||||||||||||||||||||
Agricultural | — | — | 380 | 380 | 34,744 | 35,124 | |||||||||||||||||||||||||||||||
Real estate – construction | 156 | — | 3,314 | 3,470 | 12,331 | 15,801 | |||||||||||||||||||||||||||||||
Real estate | 1,271 | — | 3,378 | 4,649 | 134,897 | 139,546 | |||||||||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||||||||||
Real estate | 242 | — | 1,911 | 2,153 | 32,513 | 34,666 | |||||||||||||||||||||||||||||||
Equity LOC | 527 | — | 1,349 | 1,876 | 34,997 | 36,873 | |||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||
Auto | 151 | 11 | 44 | 206 | 19,077 | 19,283 | |||||||||||||||||||||||||||||||
Other | 102 | 4 | 4 | 110 | 4,102 | 4,212 | |||||||||||||||||||||||||||||||
Total | $ | 2,778 | $ | 15 | $ | 13,683 | $ | 16,476 | $ | 298,581 | $ | 315,057 | |||||||||||||||||||||||||
The following tables show information related to impaired loans at the dates indicated, in thousands: | |||||||||||||||||||||||||||||||||||||
As of December 31, 2013: | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 1,224 | $ | 1,493 | $ | 1,239 | $ | 3 | |||||||||||||||||||||||||||||
Agricultural | 267 | 267 | 267 | 20 | |||||||||||||||||||||||||||||||||
Real estate – construction | 1,325 | 1,325 | 1,384 | 79 | |||||||||||||||||||||||||||||||||
Real estate – commercial | 2,237 | 2,675 | 2,489 | 53 | |||||||||||||||||||||||||||||||||
Real estate – residential | 2,024 | 2,035 | 2,057 | 89 | |||||||||||||||||||||||||||||||||
Equity Lines of Credit | 339 | 339 | 294 | 9 | |||||||||||||||||||||||||||||||||
Auto | 77 | 77 | 20 | 3 | |||||||||||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 100 | $ | 100 | $ | 79 | $ | 58 | $ | — | |||||||||||||||||||||||||||
Agricultural | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Real estate – construction | 412 | 412 | 13 | 417 | 25 | ||||||||||||||||||||||||||||||||
Real estate – commercial | 837 | 837 | 232 | 994 | — | ||||||||||||||||||||||||||||||||
Real estate – residential | 451 | 451 | 200 | 452 | 10 | ||||||||||||||||||||||||||||||||
Equity Lines of Credit | 522 | 522 | 105 | 511 | 7 | ||||||||||||||||||||||||||||||||
Auto | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 1,324 | $ | 1,593 | $ | 79 | $ | 1,297 | $ | 3 | |||||||||||||||||||||||||||
Agricultural | 267 | 267 | — | 267 | 20 | ||||||||||||||||||||||||||||||||
Real estate – construction | 1,737 | 1,737 | 13 | 1,801 | 104 | ||||||||||||||||||||||||||||||||
Real estate – commercial | 3,074 | 3,512 | 232 | 3,483 | 53 | ||||||||||||||||||||||||||||||||
Real estate – residential | 2,475 | 2,486 | 200 | 2,509 | 99 | ||||||||||||||||||||||||||||||||
Equity Lines of Credit | 861 | 861 | 105 | 805 | 16 | ||||||||||||||||||||||||||||||||
Auto | 77 | 77 | — | 20 | 3 | ||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Total | $ | 9,815 | $ | 10,533 | $ | 629 | $ | 10,182 | $ | 298 | |||||||||||||||||||||||||||
As of December 31, 2012: | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 1,022 | $ | 1,398 | $ | 1,597 | $ | 16 | |||||||||||||||||||||||||||||
Agricultural | 245 | 725 | 573 | 39 | |||||||||||||||||||||||||||||||||
Real estate – construction | 1,429 | 1,503 | 1,106 | 98 | |||||||||||||||||||||||||||||||||
Real estate – commercial | 941 | 1,013 | 1,997 | 96 | |||||||||||||||||||||||||||||||||
Real estate – residential | 343 | 354 | 1,336 | 28 | |||||||||||||||||||||||||||||||||
Equity Lines of Credit | 490 | 490 | 613 | 22 | |||||||||||||||||||||||||||||||||
Auto | 44 | 44 | 60 | 5 | |||||||||||||||||||||||||||||||||
Other | 2 | 2 | 45 | 6 | |||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 2,456 | $ | 2,849 | $ | 192 | $ | 2,765 | $ | 20 | |||||||||||||||||||||||||||
Agricultural | 402 | 402 | 1 | 403 | 20 | ||||||||||||||||||||||||||||||||
Real estate – construction | 3,762 | 5,187 | 68 | 2,056 | 35 | ||||||||||||||||||||||||||||||||
Real estate – commercial | 3,587 | 3,588 | 284 | 3,473 | 102 | ||||||||||||||||||||||||||||||||
Real estate – residential | 3,255 | 3,255 | 459 | 2,818 | 105 | ||||||||||||||||||||||||||||||||
Equity Lines of Credit | 870 | 1,082 | 180 | 974 | 5 | ||||||||||||||||||||||||||||||||
Auto | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Other | 2 | 2 | 2 | — | — | ||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 3,478 | $ | 4,247 | $ | 192 | $ | 4,362 | $ | 36 | |||||||||||||||||||||||||||
Agricultural | 647 | 1,127 | 1 | 976 | 59 | ||||||||||||||||||||||||||||||||
Real estate – construction | 5,191 | 6,690 | 68 | 3,162 | 133 | ||||||||||||||||||||||||||||||||
Real estate – commercial | 4,528 | 4,601 | 284 | 5,470 | 198 | ||||||||||||||||||||||||||||||||
Real estate – residential | 3,598 | 3,609 | 459 | 4,154 | 133 | ||||||||||||||||||||||||||||||||
Equity Lines of Credit | 1,360 | 1,572 | 180 | 1,587 | 27 | ||||||||||||||||||||||||||||||||
Auto | 44 | 44 | — | 60 | 5 | ||||||||||||||||||||||||||||||||
Other | 4 | 4 | 2 | 45 | 6 | ||||||||||||||||||||||||||||||||
Total | $ | 18,850 | $ | 21,894 | $ | 1,186 | $ | 19,816 | $ | 597 | |||||||||||||||||||||||||||
The following table shows information related to impaired loans at the date indicated, in thousands: | |||||||||||||||||||||||||||||||||||||
As of December 31, 2011: | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 2,506 | $ | 2,882 | $ | 2,458 | $ | 56 | |||||||||||||||||||||||||||||
Agricultural | 923 | 1,153 | 931 | 62 | |||||||||||||||||||||||||||||||||
Real estate – construction | 1,955 | 2,210 | 6,911 | 117 | |||||||||||||||||||||||||||||||||
Real estate – commercial | 1,707 | 1,707 | 4,751 | 70 | |||||||||||||||||||||||||||||||||
Real estate – residential | 1,711 | 1,739 | 2,069 | 106 | |||||||||||||||||||||||||||||||||
Equity Lines of Credit | 1,345 | 1,345 | 1,285 | 22 | |||||||||||||||||||||||||||||||||
Auto | 76 | 76 | 102 | 10 | |||||||||||||||||||||||||||||||||
Other | 49 | 49 | 91 | 2 | |||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 2,440 | $ | 2,440 | $ | 310 | $ | 1,349 | $ | 25 | |||||||||||||||||||||||||||
Agricultural | 345 | 345 | 250 | 345 | — | ||||||||||||||||||||||||||||||||
Real estate – construction | 4,799 | 4,850 | 901 | 2,521 | 186 | ||||||||||||||||||||||||||||||||
Real estate – commercial | 3,850 | 3,850 | 148 | 1,664 | — | ||||||||||||||||||||||||||||||||
Real estate – residential | 2,546 | 2,546 | 355 | 1,005 | 9 | ||||||||||||||||||||||||||||||||
Equity Lines of Credit | 149 | 149 | 101 | 53 | 1 | ||||||||||||||||||||||||||||||||
Auto | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Other | 1 | 1 | 1 | 1 | — | ||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 4,946 | $ | 5,322 | $ | 310 | $ | 3,807 | $ | 81 | |||||||||||||||||||||||||||
Agricultural | 1,268 | 1,498 | 250 | 1,276 | 62 | ||||||||||||||||||||||||||||||||
Real estate – construction | 6,754 | 7,060 | 901 | 9,432 | 303 | ||||||||||||||||||||||||||||||||
Real estate – commercial | 5,557 | 5,557 | 148 | 6,415 | 70 | ||||||||||||||||||||||||||||||||
Real estate – residential | 4,257 | 4,285 | 355 | 3,074 | 115 | ||||||||||||||||||||||||||||||||
Equity Lines of Credit | 1,494 | 1,494 | 101 | 1,338 | 23 | ||||||||||||||||||||||||||||||||
Auto | 76 | 76 | — | 102 | 10 | ||||||||||||||||||||||||||||||||
Other | 50 | 50 | 1 | 92 | 2 | ||||||||||||||||||||||||||||||||
Total | $ | 24,402 | $ | 25,342 | $ | 2,066 | $ | 25,536 | $ | 666 | |||||||||||||||||||||||||||
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Premises and Equipment | ' | ||||||||
7 | PREMISES AND EQUIPMENT | ||||||||
Premises and equipment consisted of the following: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Land | $ | 2,628,000 | $ | 2,628,000 | |||||
Premises | 15,793,000 | 15,417,000 | |||||||
Furniture, equipment and leasehold improvements | 9,643,000 | 10,179,000 | |||||||
28,064,000 | 28,224,000 | ||||||||
Less accumulated depreciation and amortization | (15,545,000 | ) | (14,953,000 | ) | |||||
$ | 12,519,000 | $ | 13,271,000 | ||||||
Depreciation and amortization included in occupancy and equipment expense totaled $1,166,000, $1,181,000 and $1,233,000 for the years ended December 31, 2013, 2012 and 2011, respectively. |
Deposits
Deposits | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Deposits | ' | ||||||||
8 | DEPOSITS | ||||||||
Interest-bearing deposits consisted of the following: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Interest-bearing demand deposits | $ | 82,687,000 | $ | 83,384,000 | |||||
Money market | 47,331,000 | 43,751,000 | |||||||
Savings | 93,922,000 | 70,205,000 | |||||||
Time, $100,000 or more | 23,828,000 | 27,886,000 | |||||||
Other time | 38,855,000 | 42,690,000 | |||||||
$ | 286,623,000 | $ | 267,916,000 | ||||||
At December 31, 2013, the scheduled maturities of time deposits were as follows: | |||||||||
Year Ending | |||||||||
December 31, | |||||||||
2014 | $ | 49,504,000 | |||||||
2015 | 9,863,000 | ||||||||
2016 | 2,505,000 | ||||||||
2017 | 446,000 | ||||||||
2018 | 327,000 | ||||||||
thereafter | 38,000 | ||||||||
$ | 62,683,000 | ||||||||
At December 31, 2013, the contractual maturities of time deposits with a denomination of $100,000 and over were as follows: $6,822,000 in 3 months or less, $4,922,000 over 3 months through 6 months, $5,794,000 over 6 months through 12 months, and $6,290,000 over 12 months. | |||||||||
Deposit overdrafts reclassified as loan balances were $357,000 and $392,000 at December 31, 2013 and 2012, respectively. |
Securities_Sold_under_Agreemen
Securities Sold under Agreements to Repurchase | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Text Block [Abstract] | ' | ||||
Securities Sold under Agreements to Repurchase | ' | ||||
9 | SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | ||||
Securities sold under agreements to repurchase are secured by U.S. Government agency securities with a carrying amount of $9,109,000 and $7,377,000 at December 31, 2013 and 2012, respectively. | |||||
Securities sold under agreements to repurchase are financing arrangements that mature within two years. At maturity, the securities underlying the agreements are returned to the Company. Information concerning securities sold under agreements to repurchase during 2013 and 2012 is summarized as follows: | |||||
2013 | |||||
Average daily balance during the year | $ | 7,285,000 | |||
Average interest rate during the year | 0.18 | % | |||
Maximum month-end balance during the year | $ | 9,109,000 | |||
Weighted average interest rate at year-end | 0.09 | % | |||
2012 | |||||
Average daily balance during the year | $ | 5,982,000 | |||
Average interest rate during the year | 0.27 | % | |||
Maximum month-end balance during the year | $ | 8,041,000 | |||
Weighted average interest rate at year-end | 0.25 | % |
Borrowing_Arrangements
Borrowing Arrangements | 12 Months Ended | |
Dec. 31, 2013 | ||
Debt Disclosure [Abstract] | ' | |
Borrowing Arrangements | ' | |
10 | BORROWING ARRANGEMENTS | |
The Company is a member of the FHLB and can borrow up to $104,000,000 from the FHLB secured by commercial and residential mortgage loans with carrying values totaling $193,000,000. The Company is required to hold FHLB stock as a condition of membership. At December 31, 2013 and 2012, the Company held $2,226,000 and $1,950,000 of FHLB stock which is recorded as a component of other assets. Based on this level of stock holdings at December 31, 2013, the Company can borrow up to $47,400,000. To borrow the $104,000,000 in available credit the Company would need to purchase $2,660,000 in additional FHLB stock. In addition to its FHLB borrowing line, the Company has unsecured short-term borrowing agreements with two of its correspondent banks in the amounts of $11 million and $10 million. There were no outstanding borrowings under these agreements at December 31, 2013 and 2012. | ||
On October 24, 2013 the Bancorp issued a $3 million promissory note (the “Note”) payable to an unrelated commercial bank. The note bears interest at the U.S. “Prime Rate” plus three-quarters percent per annum, 4.00% at December 31, 2013, has a term of 18 months and is secured by 100 shares of Plumas Bank stock representing the Company’s 100% ownership interest in Plumas Bank. Interest expense related to this note for the year ended December 31, 2013 totaled $23,000. Under the Note the Bank is required to maintain specified levels of capital and to meet or exceed certain capital and asset quality ratios. The Bank was in compliance with all such requirements at December 31, 2013. | ||
On April 15, 2013 the Bancorp issued $7.5 million in subordinated debentures (“subordinated debt”). The subordinated debt was issued to an unrelated third-party (“Lender”) pursuant to a subordinated debenture purchase agreement, subordinated debenture note, and stock purchase warrant. The subordinated debt agreement provides that in the event of default with respect to the subordinated debt, the Bancorp will be subject to certain restrictions on the payment of dividends and distributions to shareholders, repurchase or redemption of the Bancorp’s securities and payment on certain debts or guarantees. The subordinated debenture agreement also provides that in the event of default, Lender will have the right to appoint a director to the Bancorp’s board of directors and/or the Plumas Bank board in certain limited circumstances. | ||
The interest only payments on the subordinated debt are based on an interest rate of 7.5% per annum. Principal repayment is required at the conclusion of an 8 year term with no prepayment allowed during the first two years. Issuance of the subordinated debt was made in conjunction with an eight-year warrant (the “Lender Warrant”) to purchase up to 300,000 shares of the Bancorp’s common stock, no par value at an exercise price, subject to anti-dilution adjustments, of $5.25 per share. Under current capital guidelines the subordinated debt qualifies as Tier 2 capital subject to a 20% reduction per year beginning in 2017 and which accumulates by 20% per year through maturity in 2021. Interest expense related to the subordinated debt for the year ended December 31, 2013 totaled $541,000. | ||
The Company allocated the proceeds received on April 15, 2013 between the subordinated debt and the Lender Warrant based on the estimated relative fair value of each. The fair value of the Warrant was estimated based on a Black-Scholes-Merton model and totaled $318,000 The discount recorded on the subordinated noted will be amortized by the level-yield method over 2 years. | ||
Proceeds from the Note and the subordinated debt were used to partially fund the repurchase of preferred stock. (see Note 13—Shareholders’ Equity for additional information related to the repurchase, during 2013, of the Bancorp’s Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the “Series A Preferred Stock”). |
Junior_Subordinated_Deferrable
Junior Subordinated Deferrable Interest Debentures | 12 Months Ended | |
Dec. 31, 2013 | ||
Text Block [Abstract] | ' | |
Junior Subordinated Deferrable Interest Debentures | ' | |
11 | JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES | |
Plumas Statutory Trust I and II are Connecticut business trusts formed by the Company with capital of $298,000 and $159,000, respectively, for the sole purpose of issuing trust preferred securities fully and unconditionally guaranteed by the Company. Under applicable regulatory guidance, the amount of trust preferred securities that is eligible as Tier 1 capital is limited to twenty-five percent of the Company’s Tier 1 capital, as defined, on a pro forma basis. At December 31, 2013, all of the trust preferred securities that have been issued qualify as Tier 1 capital. | ||
During 2002, Plumas Statutory Trust I issued 6,000 Floating Rate Capital Trust Pass-Through Securities (“Trust Preferred Securities”), with a liquidation value of $1,000 per security, for gross proceeds of $6,000,000. During 2005, Plumas Statutory Trust II issued 4,000 Trust Preferred Securities with a liquidation value of $1,000 per security, for gross proceeds of $4,000,000. The entire proceeds were invested by Trust I in the amount of $6,186,000 and Trust II in the amount of $4,124,000 in Floating Rate Junior Subordinated Deferrable Interest Debentures (the “Subordinated Debentures”) issued by the Company, with identical maturity, repricing and payment terms as the Trust Preferred Securities. The Subordinated Debentures represent the sole assets of Trusts I and II. | ||
Trust I’s Subordinated Debentures mature on September 26, 2032, bear a current interest rate of 3.65% (based on 3-month LIBOR plus 3.40%), with repricing and payments due quarterly. Trust II’s Subordinated Debentures mature on September 28, 2035, bear a current interest rate of 1.72% (based on 3-month LIBOR plus 1.48%), with repricing and payments due quarterly. The Subordinated Debentures are redeemable by the Company, subject to receipt by the Company of prior approval from the Federal Reserve Board of Governors, on any quarterly anniversary date on or after the 5-year anniversary date of the issuance. The redemption price is par plus accrued and unpaid interest, except in the case of redemption under a special event which is defined in the debenture. The Trust Preferred Securities are subject to mandatory redemption to the extent of any early redemption of the Subordinated Debentures and upon maturity of the Subordinated Debentures on September 26, 2032 for Trust I and September 28, 2035 for Trust II. | ||
Holders of the Trust Preferred Securities are entitled to a cumulative cash distribution on the liquidation amount of $1,000 per security. The interest rate of the Trust Preferred Securities issued by Trust I adjust on each quarterly anniversary date to equal the 3-month LIBOR plus 3.40%. The Trust Preferred Securities issued by Trust II adjust on each quarterly anniversary date to equal the 3-month LIBOR plus 1.48%. Both Trusts I and II have the option to defer payment of the distributions for a period of up to five years, as long as the Company is not in default on the payment of interest on the Subordinated Debentures. The Trust Preferred Securities were sold and issued in private transactions pursuant to an exemption from registration under the Securities Act of 1933, as amended. The Company has guaranteed, on a subordinated basis, distributions and other payments due on the Trust Preferred Securities. Beginning in the second quarter of 2010 and continuing until March 15, 2013, the Company had deferred regularly scheduled quarterly interest payments on its outstanding junior subordinated debentures relating to its two trust preferred securities and had given notice of deferral each quarterly payment period. | ||
While the Company had accrued for this obligation, it had been deferring the interest payments on the junior subordinated debentures as permitted by the agreements. As of December 31, 2012 and 2011, the amount of the arrearage on the payments on the subordinated debt associated with the trust preferred securities was $906,000 and $569,000, respectively. | ||
On March 15, 2013, with the approval of the Federal Reserve Bank of San Francisco (FRB), the Company made all current and deferred interest payments on its trust preferred securities and all subsequent payments have been made when due. | ||
Interest expense recognized by the Company for the years ended December 31, 2013, 2012 and 2011 related to the subordinated debentures was $313,000, $344,000 and $326,000, respectively. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies | ' | ||||||||
12 | COMMITMENTS AND CONTINGENCIES | ||||||||
Leases | |||||||||
The Company has commitments for leasing premises under the terms of noncancelable operating leases expiring from 2015 to 2016. Future minimum lease payments are as follows: | |||||||||
Year Ending | |||||||||
December 31, | |||||||||
2014 | $ | 159,000 | |||||||
2015 | 128,000 | ||||||||
2016 | 83,000 | ||||||||
$ | 370,000 | ||||||||
Rental expense included in occupancy and equipment expense totaled $154,000, $153,000 and $150,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||
Financial Instruments With Off-Balance-Sheet Risk | |||||||||
The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business in order to meet the financing needs of its customers. These financial instruments include commitments to extend credit and letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized on the consolidated balance sheet. | |||||||||
The Company’s exposure to credit loss in the event of nonperformance by the other party for commitments to extend credit and letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and letters of credit as it does for loans included on the consolidated balance sheet. | |||||||||
The following financial instruments represent off-balance-sheet credit risk: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Commitments to extend credit | $ | 84,229,000 | $ | 76,030,000 | |||||
Letters of credit | $ | 60,000 | $ | 110,000 | |||||
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. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the borrower. Collateral held varies, but may include accounts receivable, crops, inventory, equipment, income-producing commercial properties, farm land and residential properties. | |||||||||
Letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. The fair value of the liability related to these letters of credit, which represents the fees received for issuing the guarantees, was not significant at December 31, 2013 and 2012. The Company recognizes these fees as revenues over the term of the commitment or when the commitment is used. | |||||||||
At December 31, 2013, consumer loan commitments represent approximately 18% of total commitments and are generally unsecured. Commercial and agricultural loan commitments represent approximately 36% of total commitments and are generally secured by various assets of the borrower. Real estate loan commitments, including consumer home equity lines of credit, represent the remaining 46% of total commitments and are generally secured by property with a loan-to-value ratio not to exceed 80%. In addition, the majority of the Company’s commitments have variable interest rates. | |||||||||
Concentrations of Credit Risk | |||||||||
The Company grants real estate mortgage, real estate construction, commercial, agricultural and consumer loans to customers throughout Plumas, Nevada, Placer, Lassen, Sierra, Shasta and Modoc counties in California and Washoe county in Northern Nevada. | |||||||||
Although the Company has a diversified loan portfolio, a substantial portion of its portfolio is secured by commercial and residential real estate. A continued substantial decline in the economy in general, or a continued decline in real estate values in the Company’s primary market areas in particular, could have an adverse impact on the collectability of these loans. However, personal and business income represents the primary source of repayment for a majority of these loans. | |||||||||
Contingencies | |||||||||
The Company is subject to legal proceedings and claims which arise in the ordinary course of business. In the opinion of management, the amount of ultimate liability with respect to such actions will not materially affect the financial position or results of operations of the Company. |
Shareholders_Equity
Shareholders' Equity | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Shareholders' Equity | ' | ||||||||||||||||
13 | SHAREHOLDERS’ EQUITY | ||||||||||||||||
Dividend Restrictions | |||||||||||||||||
The Company’s ability to pay cash dividends is dependent on dividends paid to it by the Bank and limited by California corporation law. Under California law, the holders of common stock of the Company are entitled to receive dividends when and as declared by the Board of Directors, out of funds legally available, subject to certain restrictions. The California general corporation law prohibits the Company from paying dividends on its common stock unless: (i) its retained earnings, immediately prior to the dividend payment, equals or exceeds the amount of the dividend or (ii) immediately after giving effect to the dividend, the sum of the Company’s assets (exclusive of goodwill and deferred charges) would be at least equal to 125% of its liabilities (not including deferred taxes, deferred income and other deferred liabilities) and the current assets of the Company would be at least equal to its current liabilities, or, if the average of its earnings before taxes on income and before interest expense for the two preceding fiscal years was less than the average of its interest expense for the two preceding fiscal years, at least equal to 125% of its current liabilities. | |||||||||||||||||
Dividends from the Bank to the Company are restricted under California law to the lesser of the Bank’s retained earnings or the Bank’s net income for the latest three fiscal years, less dividends previously declared during that period, or, with the approval of the DBO, to the greater of the retained earnings of the Bank, the net income of the Bank for its last fiscal year, or the net income of the Bank for its current fiscal year. As of December 31, 2013, the maximum amount available for dividend distribution under this restriction was approximately $3,200,000. In addition the Company’s ability to pay dividends is subject to certain covenants contained in the indentures relating to the Trust Preferred Securities issued by the business trusts (see Note 11 for additional information related to the Trust Preferred Securities). | |||||||||||||||||
Preferred Stock | |||||||||||||||||
On January 30, 2009 the Bancorp entered into a Letter Agreement (the “Purchase Agreement”) with the United States Department of the Treasury (“Treasury”), pursuant to which the Bancorp issued and sold (i) 11,949 shares Series A Preferred Stock and (ii) a warrant (the “Warrant”) to purchase 237,712 shares of the Bancorp’s common stock, no par value (the “Common Stock”), for an aggregate purchase price of $11,949,000 in cash. | |||||||||||||||||
On April 11, 2013, the Treasury announced its intent to sell its investment in the Bancorp’s Series A Preferred Stock along with similar investments the Treasury had made in seven other financial institutions, principally to qualified institutional buyers. Using a modified Dutch auction methodology that establishes a market price by allowing investors to submit bids at specified increments during the period of April 15, 2013 through April 18, 2013, the U.S. Treasury auctioned all of the Bancorp’s 11,949 Series A Preferred Stock. The Bancorp sought and obtained regulatory permission to participate in the auction. The Bancorp successfully bid to repurchase 7,000 shares of the 11,949 outstanding shares. This repurchase resulted in a discount of approximately 7% on the face value of the Series A Preferred Stock plus related outstanding dividends. The remaining 4,949 shares were purchased at auction by third party private investors. | |||||||||||||||||
On June 27, 2013 the Bancorp repurchased 1,566 shares of the Series A Preferred Stock at $1,000 per share from certain of those third party private investors and on September 16, 2013 the Bancorp repurchased 250 shares at $985 per share from another one of the third party investors leaving 3,133 shares outstanding as of September 30, 2013. On October 25, 2013, Plumas Bancorp repurchased the remaining 3,133 shares of the Series A Preferred Stock from a third party private investor. The Company paid $3,101,670 plus accrued dividends of $30,453. This represents a discount of 1% from the liquidation value of the Preferred Stock. On May 22, 2013 the Bancorp repurchased the Warrant from the Treasury at a cost of $234,500. | |||||||||||||||||
Earnings Per Share | |||||||||||||||||
Basic earnings per share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, result in the issuance of common stock which shares in the earnings of the Company. The treasury stock method has been applied to determine the dilutive effect of stock options in computing diluted earnings per share. | |||||||||||||||||
For the Year Ended December 31, | |||||||||||||||||
(In thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||||||
Net Income: | |||||||||||||||||
Net income | $ | 3,431 | $ | 1,950 | $ | 941 | |||||||||||
Discount on redemption of preferred shares | 565 | — | — | ||||||||||||||
Dividends and accretion on preferred shares | (347 | ) | (684 | ) | (684 | ) | |||||||||||
Net income available to common shareholders | $ | 3,649 | $ | 1,266 | $ | 257 | |||||||||||
Earnings Per Share: | |||||||||||||||||
Basic earnings per share | $ | 0.76 | $ | 0.26 | $ | 0.05 | |||||||||||
Diluted earnings per share | $ | 0.75 | $ | 0.26 | $ | 0.05 | |||||||||||
Weighted Average Number of Shares Outstanding: | |||||||||||||||||
Basic shares | 4,780 | 4,776 | 4,776 | ||||||||||||||
Diluted shares | 4,883 | 4,782 | 4,776 | ||||||||||||||
Shares of common stock issuable under stock options and warrants for which the exercise prices were greater than the average market prices were not included in the computation of diluted earnings per share due to their antidilutive effect. Stock options and warrants not included in the computation of diluted earnings per share, due to shares not being in the-money and having an antidilutive effect, were 172,000, 632,000 and 721,000 for the years ended December 31, 2013, 2012 and 2011, respectively. At December 31, 2013 one stock warrant was outstanding to purchase up to 300,000 shares of the Bancorp’s common stock at an exercise price, subject to anti-dilution adjustments, of $5.25 per share. At December 31, 2012 and 2011 one stock warrant was outstanding to purchase up to 237,712 shares of the Bancorp’s common stock at an exercise price, subject to anti-dilution adjustments, of $7.54 per share. | |||||||||||||||||
Stock Options | |||||||||||||||||
In 2001, the Company established a Stock Option Plan for which 365,059 shares of common stock remain reserved for issuance to employees and directors and no shares are available for future grants as of December 31, 2013. | |||||||||||||||||
In May 2013, the Company established the 2013 Stock Option Plan for which 500,000 shares of common stock are reserved and available for future grants to employees and directors. The Plan requires that the option price may not be less than the fair market value of the stock at the date the option is granted, and that the stock must be paid in full at the time the option is exercised. Payment in full for the option price must be made in cash, with Company common stock previously acquired by the optionee and held by the optionee for a period of at least six months, in options of the Optionee that are fully vested and exercisable or in any combination of the foregoing. The options expire on dates determined by the Board of Directors, but not later than ten years from the date of grant. No grants have been made under the 2013 plan. A summary of the activity within the 2001 Stock Option Plan follows: | |||||||||||||||||
Shares | Weighted | Weighted | Intrinsic | ||||||||||||||
Average | Average | Value | |||||||||||||||
Exercise | Remaining | ||||||||||||||||
Price | Contractual | ||||||||||||||||
Term | |||||||||||||||||
Options outstanding at January 1, 2011 | 312,030 | $ | 13.41 | ||||||||||||||
Options granted | 248,000 | 2.95 | |||||||||||||||
Options cancelled | (77,250 | ) | 9.05 | ||||||||||||||
Options outstanding at December 31, 2011 | 482,780 | $ | 8.74 | ||||||||||||||
Options cancelled | (62,974 | ) | 9.17 | ||||||||||||||
Options outstanding at December 31, 2012 | 419,806 | $ | 8.67 | ||||||||||||||
Options cancelled | (43,347 | ) | 11.34 | ||||||||||||||
Options exercised | (11,400 | ) | 2.95 | ||||||||||||||
Options outstanding at December 31, 2013 | 365,059 | $ | 8.53 | 3.4 | $ | 631,110 | |||||||||||
Options exercisable at December 31, 2013 | 265,266 | $ | 10.63 | 2.8 | $ | 304,764 | |||||||||||
Expected to vest after December 31, 2013 | 83,893 | $ | 2.95 | 5.2 | $ | 274,329 | |||||||||||
As of December 31, 2013, there was $49,000 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Plan. That cost is expected to be recognized over a weighted average period of 1.2 years. | |||||||||||||||||
The total fair value of options vested was $52,000 and $89,000 for the year ended December 31, 2013 and 2012, respectively. The total intrinsic value of options at time of exercise was $34,000 for the year ended December 31, 2013. | |||||||||||||||||
Cash received from option exercise for the years ended December 31, 2013 was $34,000. There was no tax benefit realized for the tax deduction from options exercised in 2013. | |||||||||||||||||
Regulatory Capital | |||||||||||||||||
The Company and the Bank are subject to certain regulatory capital requirements administered by the Board of Governors of the Federal Reserve System and the FDIC. Failure to meet these minimum capital requirements can initiate certain mandatory and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. | |||||||||||||||||
Under capital adequacy guidelines, the Company and the Bank must meet specific capital guidelines that involved quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. These quantitative measures are established by regulation and require that minimum amounts and ratios of total and Tier 1 capital to risk-weighted assets and of Tier 1 capital to average assets be maintained. Capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. | |||||||||||||||||
The Bank is also subject to additional capital guidelines under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table on the following page and cannot be subject to a written agreement, order or capital directive issued by the FDIC. Management believes that the Company and the Bank met all capital adequacy requirements to which they are subject. | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Amount | Ratio | Amount | Ratio | ||||||||||||||
Leverage Ratio | |||||||||||||||||
Plumas Bancorp and Subsidiary | $ | 40,909,000 | 7.8 | % | $ | 49,052,000 | 10.3 | % | |||||||||
Minimum regulatory requirement | $ | 20,856,000 | 4 | % | $ | 19,040,000 | 4 | % | |||||||||
Plumas Bank | $ | 50,748,000 | 9.7 | % | $ | 49,662,000 | 10.4 | % | |||||||||
Minimum requirement for “Well- Capitalized” institution under the prompt corrective action | $ | 26,026,000 | 5 | % | $ | 23,852,000 | 5 | % | |||||||||
Minimum regulatory requirement | $ | 20,821,000 | 4 | % | $ | 19,032,000 | 4 | % | |||||||||
Tier 1 Risk-Based Capital Ratio | |||||||||||||||||
Plumas Bancorp and Subsidiary | $ | 40,909,000 | 10.7 | % | $ | 49,052,000 | 13.9 | % | |||||||||
Minimum regulatory requirement | $ | 15,332,000 | 4 | % | $ | 14,143,000 | 4 | % | |||||||||
Plumas Bank | $ | 50,748,000 | 13.2 | % | $ | 49,662,000 | 14.1 | % | |||||||||
Minimum requirement for “Well- Capitalized” institution under the prompt corrective action | $ | 22,986,000 | 6 | % | $ | 21,200,000 | 6 | % | |||||||||
Minimum regulatory requirement | $ | 15,324,000 | 4 | % | $ | 14,133,000 | 4 | % | |||||||||
Total Risk-Based Capital Ratio | |||||||||||||||||
Plumas Bancorp and Subsidiary | $ | 53,006,000 | 13.8 | % | $ | 53,489,000 | 15.1 | % | |||||||||
Minimum regulatory requirement | $ | 30,664,000 | 8 | % | $ | 28,286,000 | 8 | % | |||||||||
Plumas Bank | $ | 55,547,000 | 14.5 | % | $ | 54,096,000 | 15.3 | % | |||||||||
Minimum requirement for “Well- Capitalized” institution under the prompt corrective action | $ | 38,310,000 | 10 | % | $ | 35,333,000 | 10 | % | |||||||||
Minimum regulatory requirement | $ | 30,648,000 | 8 | % | $ | 28,266,000 | 8 | % |
Other_Expenses
Other Expenses | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||
Other Expenses | ' | ||||||||||||
14 | OTHER EXPENSES | ||||||||||||
Other expenses consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Outside service fees | $ | 1,855,000 | $ | 1,503,000 | $ | 1,270,000 | |||||||
Professional fees | 831,000 | 875,000 | 730,000 | ||||||||||
FDIC Insurance | 435,000 | 613,000 | 1,099,000 | ||||||||||
OREO expenses | 310,000 | 187,000 | 422,000 | ||||||||||
Business development | 291,000 | 268,000 | 262,000 | ||||||||||
Telephone and data communications | 287,000 | 308,000 | 331,000 | ||||||||||
Advertising and promotion | 281,000 | 251,000 | 236,000 | ||||||||||
Director compensation and retirement | 232,000 | 255,000 | 229,000 | ||||||||||
Armored car and courier | 228,000 | 224,000 | 225,000 | ||||||||||
Loan collection expenses | 212,000 | 219,000 | 261,000 | ||||||||||
Core deposit intangible amortization | 128,000 | 173,000 | 173,000 | ||||||||||
Stationery and supplies | 113,000 | 124,000 | 140,000 | ||||||||||
Insurance | 112,000 | 120,000 | 42,000 | ||||||||||
Postage | 51,000 | 104,000 | 190,000 | ||||||||||
(Gain) loss on sale of other real estate | (171,000 | ) | 16,000 | 606,000 | |||||||||
Other operating expenses | 286,000 | 239,000 | 168,000 | ||||||||||
$ | 5,481,000 | $ | 5,479,000 | $ | 6,384,000 | ||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
15 | INCOME TAXES | ||||||||||||
The provision for income taxes for the years ended December 31, 2013, 2012 and 2011 consisted of the following: | |||||||||||||
Federal | State | Total | |||||||||||
2013 | |||||||||||||
Current | $ | 60,000 | $ | 22,000 | $ | 82,000 | |||||||
Deferred | 1,578,000 | 507,000 | 2,085,000 | ||||||||||
Provision for income taxes | $ | 1,638,000 | $ | 529,000 | $ | 2,167,000 | |||||||
Federal | State | Total | |||||||||||
2012 | |||||||||||||
Current | $ | 25,000 | $ | 3,000 | $ | 28,000 | |||||||
Deferred | 812,000 | 230,000 | 1,042,000 | ||||||||||
Provision for income taxes | $ | 837,000 | $ | 233,000 | $ | 1,070,000 | |||||||
Federal | State | Total | |||||||||||
2011 | |||||||||||||
Current | $ | 34,000 | $ | 2,000 | $ | 36,000 | |||||||
Deferred | 228,000 | 31,000 | 259,000 | ||||||||||
Provision for income taxes | $ | 262,000 | $ | 33,000 | $ | 295,000 | |||||||
Deferred tax assets (liabilities) consisted of the following: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Allowance for loan losses | $ | 29,000 | $ | 327,000 | |||||||||
Net operating loss carryovers | 1,069,000 | 2,636,000 | |||||||||||
Deferred compensation | 1,757,000 | 1,739,000 | |||||||||||
OREO valuation allowance | 1,097,000 | 1,326,000 | |||||||||||
Unrealized loss on available-for-sale investment securities | 817,000 | — | |||||||||||
Other | 1,049,000 | 855,000 | |||||||||||
Total deferred tax assets | 5,818,000 | 6,883,000 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Deferred loan costs | (1,187,000 | ) | (960,000 | ) | |||||||||
Unrealized gain on available-for-sale investment securities | — | (232,000 | ) | ||||||||||
Other | (233,000 | ) | (257,000 | ) | |||||||||
Total deferred tax liabilities | (1,420,000 | ) | (1,449,000 | ) | |||||||||
Net deferred tax assets | $ | 4,398,000 | $ | 5,434,000 | |||||||||
Deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the reported amount of assets and liabilities and their tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The determination of the amount of deferred income tax assets which are more likely than not to be realized is primarily dependent on projections of future earnings, which are subject to uncertainty and estimates that may change given economic conditions and other factors. The realization of deferred income tax assets is assessed and a valuation allowance is recorded if it is “more likely than not” that all or a portion of the deferred tax asset will not be realized. “More likely than not” is defined as greater than a 50% chance. All available evidence, both positive and negative is considered to determine whether, based on the weight of that evidence, a valuation allowance is needed. | |||||||||||||
At December 31, 2013 total deferred tax assets were approximately $5,818,000 and total deferred tax liabilities were approximately $1,420,000 for a net deferred tax asset of $4,398,000. The Company’s deferred tax assets primarily relate to net operating loss carry-forwards, tax benefits related to unrealized losses on available-for-sale investment securities and timing differences in the tax deductibility of impairment charges on other real estate owned and deferred compensation. Based upon our analysis of available evidence, management of the Company determined that it is “more likely than not” that all of our deferred income tax assets as of December 31, 2013 and 2012 will be fully realized and therefore no valuation allowance was recorded. On the consolidated balance sheet, net deferred tax assets are included in accrued interest receivable and other assets. | |||||||||||||
When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. | |||||||||||||
Interest expense and penalties associated with unrecognized tax benefits, if any, are classified as income tax expense in the consolidated statement of income. There have been no significant changes to unrecognized tax benefits or accrued interest and penalties for the year ended December 31, 2013. | |||||||||||||
The provision for income taxes differs from amounts computed by applying the statutory Federal income tax rate to operating income before income taxes. The significant items comprising these differences consisted of the following: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Federal income tax, at statutory rate | 34 | % | 34 | % | 34 | % | |||||||
State franchise tax, net of Federal tax effect | 6 | % | 5.7 | % | 4.4 | % | |||||||
Interest on obligations of states and political subdivisions | (0.1 | )% | (0.3 | )% | (2.7 | )% | |||||||
Net increase in cash surrender value of bank owned life insurance | (2.1 | )% | (3.9 | )% | (9.7 | )% | |||||||
Other | 0.9 | % | (0.1 | )% | (2.1 | )% | |||||||
Effective tax rate | 38.7 | % | 35.4 | % | 23.9 | % | |||||||
At year-end 2013, the Company had federal operating loss carry-forwards of approximately $903,000 which expire at various dates from 2029 to 2031. In addition, at year end 2013, the Company had state operating loss carry-forwards of approximately $10,645,000 which expire at various dates from 2029 to 2031. Deferred tax assets are recognized for net operating losses because the benefit is more likely than not to be realized. | |||||||||||||
The Company and its subsidiary file income tax returns in the U.S. federal and California jurisdictions. The Company conducts all of its business activities in the states of California and Nevada. There are currently no pending U.S. federal, state, and local income tax or non-U.S. income tax examinations by tax authorities. | |||||||||||||
With few exceptions, the Company is no longer subject to tax examinations by U.S. Federal taxing authorities for years ended before December 31, 2010, and by state and local taxing authorities for years ended before December 31, 2009. | |||||||||||||
The unrecognized tax benefits and changes therein and the interest and penalties accrued by the Company as of or during the years ended December 31, 2013 and 2012 were not significant. The Company does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Related Party Transactions [Abstract] | ' | ||||
Related Party Transactions | ' | ||||
16 | RELATED PARTY TRANSACTIONS | ||||
During the normal course of business, the Company enters into transactions with related parties, including executive officers and directors. The following is a summary of the aggregate activity involving related party borrowers during 2013: | |||||
Balance, January 1, 2013 | $ | 473,000 | |||
Disbursements | 1,076,000 | ||||
Amounts repaid | (136,000 | ) | |||
Balance, December 31, 2013 | $ | 1,413,000 | |||
Undisbursed commitments to related parties, December 31, 2013 | $ | 1,970,000 | |||
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | |
Dec. 31, 2013 | ||
Compensation And Retirement Disclosure [Abstract] | ' | |
Employee Benefit Plans | ' | |
17 | EMPLOYEE BENEFIT PLANS | |
Profit Sharing Plan | ||
The Plumas Bank Profit Sharing Plan commenced April 1, 1988 and is available to employees meeting certain service requirements. Under the Plan, employees are able to defer a selected percentage of their annual compensation. Included under the Plan’s investment options is the option to invest in Company stock. No contribution was made for the years ended December 31, 2013, 2012 and 2011. | ||
Salary Continuation and Retirement Agreements | ||
Salary continuation and retirement agreements are in place for two key executives and seven members of the Board of Directors as well as four former executives and four former directors. Under these agreements, the directors and executives will receive monthly payments for twelve to fifteen years, respectively, after retirement. The estimated present value of these future benefits is accrued over the period from the effective dates of the agreements until the participants’ expected retirement dates. The expense recognized under these plans for the years ended December 31, 2013, 2012 and 2011 totaled $286,000, $507,000 and $385,000, respectively. Accrued compensation payable under these plans totaled $4,009,000 and $4,002,000 at December 31, 2013 and 2012, respectively. | ||
In connection with these agreements, the Bank purchased single premium life insurance policies with cash surrender values totaling $11,504,000 and $11,160,000 at December 31, 2013 and 2012, respectively. Income earned on these policies, net of expenses, totaled $344,000, $345,000 and $352,000 for the years ended December 31, 2013, 2012 and 2011, respectively. |
Parent_Only_Condensed_Financia
Parent Only Condensed Financial Statements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Parent Only Condensed Financial Statements | ' | ||||||||||||
18 | PARENT ONLY CONDENSED FINANCIAL STATEMENTS | ||||||||||||
CONDENSED BALANCE SHEETS | |||||||||||||
December 31, 2013 and 2012 | |||||||||||||
2013 | 2012 | ||||||||||||
ASSETS | |||||||||||||
Cash and cash equivalents | $ | 598,000 | $ | 477,000 | |||||||||
Investment in bank subsidiary | 49,585,000 | 51,372,000 | |||||||||||
Other assets | 1,048,000 | 1,334,000 | |||||||||||
Total assets | $ | 51,231,000 | $ | 53,183,000 | |||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||
Other liabilities | $ | 33,000 | $ | 1,023,000 | |||||||||
Note Payable | 3,000,000 | — | |||||||||||
Subordinated debentures | 7,295,000 | — | |||||||||||
Junior subordinated deferrable interest debentures | 10,310,000 | 10,310,000 | |||||||||||
Total liabilities | 20,638,000 | 11,333,000 | |||||||||||
Shareholders’ equity: | |||||||||||||
Preferred stock | — | 11,855,000 | |||||||||||
Common stock | 6,249,000 | 6,093,000 | |||||||||||
Retained earnings | 25,507,000 | 23,573,000 | |||||||||||
Accumulated other comprehensive (loss) income | (1,163,000 | ) | 329,000 | ||||||||||
Total shareholders’ equity | 30,593,000 | 41,850,000 | |||||||||||
Total liabilities and shareholders’ equity | $ | 51,231,000 | $ | 53,183,000 | |||||||||
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | |||||||||||||
For the Years Ended December 31, 2013, 2012 and 2011 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Income: | |||||||||||||
Dividends declared by bank subsidiary | $ | 4,500,000 | $ | — | $ | — | |||||||
Earnings from investment in Plumas Statutory Trusts I and II | 9,000 | 10,000 | 10,000 | ||||||||||
Total income | 4,509,000 | 10,000 | 10,000 | ||||||||||
Expenses: | |||||||||||||
Interest on note payable | 23,000 | — | — | ||||||||||
Interest on subordinated debentures | 541,000 | — | — | ||||||||||
Interest on junior subordinated deferrable interest debentures | 313,000 | 344,000 | 326,000 | ||||||||||
Other expenses | 309,000 | 242,000 | 199,000 | ||||||||||
Total expenses | 1,186,000 | 586,000 | 525,000 | ||||||||||
Income (loss) before equity in undistributed income of subsidiary | 3,323,000 | (576,000 | ) | (515,000 | ) | ||||||||
Equity in undistributed (loss) income of subsidiary | (330,000 | ) | 2,289,000 | 1,244,000 | |||||||||
Income before income taxes | 2,993,000 | 1,713,000 | 729,000 | ||||||||||
Income tax benefit | 438,000 | 237,000 | 212,000 | ||||||||||
Net income | $ | 3,431,000 | $ | 1,950,000 | $ | 941,000 | |||||||
Total comprehensive income | $ | 1,939,000 | $ | 2,121,000 | $ | 1,151,000 | |||||||
CONDENSED STATEMENTS OF CASH FLOWS | |||||||||||||
For the Years Ended December 31, 2013, 2012 and 2011 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash flows from operating activities: | |||||||||||||
Net income | $ | 3,431,000 | $ | 1,950,000 | $ | 941,000 | |||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||||||
Undistributed loss (income) of subsidiary | 330,000 | (2,289,000 | ) | (1,244,000 | ) | ||||||||
Amortization of discount on debentures | 113,000 | — | — | ||||||||||
Stock-based compensation expense | 4,000 | 5,000 | 2,000 | ||||||||||
Decrease (increase) in other assets | 285,000 | (248,000 | ) | (15,000 | ) | ||||||||
(Decrease) increase in other liabilities | (990,000 | ) | 399,000 | 350,000 | |||||||||
Net cash provided by (used in) operating activities | 3,173,000 | (183,000 | ) | 34,000 | |||||||||
Cash flows from financing activities: | |||||||||||||
Issuance of subordinated debt, net of discount | 7,182,000 | — | — | ||||||||||
Issuance of common stock warrant | 318,000 | — | — | ||||||||||
Issuance of note payable | 3,000,000 | — | — | ||||||||||
Repurchase of common stock warrant | (234,000 | ) | — | — | |||||||||
Redemption of preferred stock | (11,384,000 | ) | — | — | |||||||||
Proceeds from exercise of stock options | 34,000 | — | — | ||||||||||
Payment of cash dividends on preferred stock | (1,968,000 | ) | — | — | |||||||||
Net cash used in financing activities | (3,052,000 | ) | — | — | |||||||||
Increase (decrease) in cash and cash equivalents | 121,000 | (183,000 | ) | 34,000 | |||||||||
Cash and cash equivalents at beginning of year | 477,000 | 660,000 | 626,000 | ||||||||||
Cash and cash equivalents at end of year | $ | 598,000 | $ | 477,000 | $ | 660,000 | |||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Consolidation and Basis of Presentation | ' | ||||||||
Consolidation and Basis of Presentation | |||||||||
The consolidated financial statements include the accounts of the Company and the consolidated accounts of its wholly-owned subsidiary, Plumas Bank. All significant intercompany balances and transactions have been eliminated. | |||||||||
Plumas Statutory Trust I and Trust II are not consolidated into the Company’s consolidated financial statements and, accordingly, are accounted for under the equity method. The Company’s investment in Trust I of $298,000 and Trust II of $159,000 are included in accrued interest receivable and other assets on the consolidated balance sheet. The junior subordinated deferrable interest debentures issued and guaranteed by the Company and held by Trust I and Trust II are reflected as debt on the consolidated balance sheet. | |||||||||
The accounting and reporting policies of Plumas Bancorp and subsidiary conform with accounting principles generally accepted in the United States of America and prevailing practices within the banking industry. | |||||||||
Reclassifications | ' | ||||||||
Reclassifications | |||||||||
Certain reclassifications have been made to prior years’ balances to conform to the classifications used in 2013. These reclassifications had no impact on the Company’s consolidated financial position, results of operations or net change in cash and cash equivalents. | |||||||||
Segment Information | ' | ||||||||
Segment Information | |||||||||
Management has determined that since all of the banking products and services offered by the Company are available in each branch of the Bank, all branches are located within the same economic environment and management does not allocate resources based on the performance of different lending or transaction activities, it is appropriate to aggregate the Bank branches and report them as a single operating segment. No customer accounts for more than 10 percent of revenues for the Company or the Bank. | |||||||||
Use of Estimates | ' | ||||||||
Use of Estimates | |||||||||
To prepare financial statements in conformity with accounting principles generally accepted in the United States of America management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. The allowance for loan losses, loan servicing rights, deferred tax assets, and fair values of financial instruments are particularly subject to change. | |||||||||
Cash and Cash Equivalents | ' | ||||||||
Cash and Cash Equivalents | |||||||||
For the purpose of the statement of cash flows, cash and due from banks and Federal funds sold are considered to be cash equivalents. Generally, Federal funds are sold for one day periods. Cash held with other federally insured institutions in excess of FDIC limits as of December 31, 2013 was $7.3 million. Net cash flows are reported for customer loans and deposit transactions and repurchase agreements. | |||||||||
Investment Securities | ' | ||||||||
Investment Securities | |||||||||
Investments are classified into one of the following categories: | |||||||||
• | Available-for-sale securities reported at fair value, with unrealized gains and losses excluded from earnings and reported, net of taxes, as accumulated other comprehensive income (loss) within shareholders’ equity. | ||||||||
• | Held-to-maturity securities, which management has the positive intent and ability to hold, reported at amortized cost, adjusted for the accretion of discounts and amortization of premiums. As of December 31, 2013 and 2012 the Company did not have any investment securities classified as held-to-maturity. | ||||||||
Management determines the appropriate classification of its investments at the time of purchase and may only change the classification in certain limited circumstances. | |||||||||
As of December 31, 2013 and 2012 the Company did not have any investment securities classified as trading and gains or losses on the sale of securities are computed on the specific identification method. Interest earned on investment securities is reported in interest income, net of applicable adjustments for accretion of discounts and amortization of premiums accounted for by the level yield method with no pre-payment anticipated. | |||||||||
An investment security is impaired when its carrying value is greater than its fair value. Investment securities that are impaired are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether such a decline in their fair value is other than temporary. Management utilizes criteria such as the magnitude and duration of the decline and the intent and ability of the Company to retain its investment in the securities for a period of time sufficient to allow for an anticipated recovery in fair value, in addition to the reasons underlying the decline, to determine whether the loss in value is other than temporary. The term “other than temporary” is not intended to indicate that the decline is permanent, but indicates that the prospects for a near-term recovery of value is not necessarily favorable, or that there is a lack of evidence to support a realizable value equal to or greater than the carrying value of the investment. Once a decline in value is determined to be other than temporary, and management does not intend to sell the security or it is more likely than not that the Company will not be required to sell the security before recovery, only the portion of the impairment loss representing credit exposure is recognized as a charge to earnings, with the balance recognized as a charge to other comprehensive income. If management intends to sell the security or it is more likely than not that the Company will be required to sell the security before recovering its forecasted cost, the entire impairment loss is recognized as a charge to earnings. | |||||||||
Investment in Federal Home Loan Bank Stock | ' | ||||||||
Investment in Federal Home Loan Bank Stock | |||||||||
As a member of the Federal Home Loan Bank (FHLB) System, the Bank is required to maintain an investment in the capital stock of the FHLB. The investment is carried at cost classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. At December 31, 2013 and 2012, FHLB stock totaled $2,226,000 and $1,950,000, respectively. On the consolidated balance sheet, FHLB stock is included in accrued interest receivable and other assets. | |||||||||
Loans Held for Sale, Loan Sales and Servicing | ' | ||||||||
Loans Held for Sale, Loan Sales and Servicing | |||||||||
Included in the loan portfolio are loans which are 75% to 85% guaranteed by the Small Business Administration (SBA), US Department of Agriculture Rural Business Cooperative Service (RBS) and Farm Services Agency (FSA). The guaranteed portion of these loans may be sold to a third party, with the Bank retaining the unguaranteed portion. The Company can receive a premium in excess of the adjusted carrying value of the loan at the time of sale. | |||||||||
As of December 31, 2013 and 2012 the Company had $2,800,000 and $3,367,000, respectively in government guaranteed loans held for sale. Loans held for sale are recorded at the lower of cost or fair value and therefore may be reported at fair value on a non-recurring basis. The fair values for loans held for sale are based on either observable transactions of similar instruments or formally committed loan sale prices. | |||||||||
Government guaranteed loans with unpaid balances of $70,212,000 and $58,696,000 were being serviced for others at December 31, 2013 and 2012, respectively. | |||||||||
The Company accounts for the transfer and servicing of financial assets based on the fair value of financial and servicing assets it controls and liabilities it has assumed, derecognizes financial assets when control has been surrendered, and derecognizes liabilities when extinguished. | |||||||||
Servicing rights acquired through 1) a purchase or 2) the origination of loans which are sold or securitized with servicing rights retained are recognized as separate assets or liabilities. Servicing assets or liabilities are recorded at fair value and are subsequently amortized in proportion to and over the period of the related net servicing income or expense. Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with non-interest income on the statement of income. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. | |||||||||
The Company’s investment in the loan is allocated between the retained portion of the loan, the servicing asset, the interest-only (IO) strip, and the sold portion of the loan based on their fair values on the date the loan is sold. The gain on the sold portion of the loan is recognized as income at the time of sale. | |||||||||
The carrying value of the retained portion of the loan is discounted based on the estimated value of a comparable non-guaranteed loan. The servicing asset is recognized and amortized over the estimated life of the related loan. Assets (accounted for as IO strips) are recorded at the fair value of the difference between note rates and rates paid to purchasers (the interest spread) and contractual servicing fees, if applicable. IO strips are carried at fair value with gains or losses recorded as a component of shareholders’ equity, similar to available-for-sale investment securities. Significant future prepayments of these loans will result in the recognition of additional amortization of related servicing assets and an adjustment to the carrying value of related IO strips. | |||||||||
Loans | ' | ||||||||
Loans | |||||||||
Loans that management has the intent and ability to hold for foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of purchase premiums or discounts, deferred loan fees and costs, and an allowance for loan losses. Loans, if any, that are transferred from loans held for sale are carried at the lower of principal balance or market value at the date of transfer, adjusted for accretion of discounts. Interest is accrued daily based upon outstanding loan balances. However, when, in the opinion of management, loans are considered to be impaired and the future collectability of interest and principal is in serious doubt, loans are placed on nonaccrual status and the accrual of interest income is suspended. Any interest accrued but unpaid is charged against income. Payments received are applied to reduce principal to the extent necessary to ensure collection. A loan is moved to non-accrual status in accordance with the Company’s policy, typically after 90 days of non-payment unless well secured and in the process of collection. Subsequent payments on these loans, or payments received on nonaccrual loans for which the ultimate collectability of principal is not in doubt, are applied first to earned but unpaid interest and then to principal. | |||||||||
Loan origination fees, commitment fees, direct loan origination costs and purchased premiums and discounts on loans are deferred and recognized as an adjustment of yield, to be amortized to interest income over the contractual term of the loan. The unamortized balance of deferred fees and costs is reported as a component of net loans. | |||||||||
The Company may acquire loans through a business combination or a purchase for which differences may exist between the contractual cash flows and the cash flows expected to be collected due, at least in part, to credit quality. When the Company acquires such loans, the yield that may be accreted (accretable yield) is limited to the excess of the Company’s estimate of undiscounted cash flows expected to be collected over the Company’s initial investment in the loan. The excess of contractual cash flows over cash flows expected to be collected may not be recognized as an adjustment to yield, loss, or a valuation allowance. Subsequent increases in cash flows expected to be collected generally should be recognized prospectively through adjustment of the loan’s yield over its remaining life. Decreases in cash flows expected to be collected should be recognized as an impairment. | |||||||||
The Company may not “carry over” or create a valuation allowance in the initial accounting for loans acquired under these circumstances. At December 31, 2013 and 2012, there were no such loans being accounted for under this policy. | |||||||||
Allowance for Loan Losses | ' | ||||||||
Allowance for Loan Losses | |||||||||
The allowance for loan losses is an estimate of probable incurred credit losses inherent in the Company’s loan portfolio that have been incurred as of the balance-sheet date. The allowance is established through a provision for loan losses which is charged to expense. Additions to the allowance are expected to maintain the adequacy of the total allowance after credit losses and loan growth. Credit exposures determined to be uncollectible are charged against the allowance. Cash received on previously charged-off amounts is recorded as a recovery to the allowance. The overall allowance consists of two primary components, specific reserves related to impaired loans and general reserves for inherent losses related to loans that are not impaired but collectively evaluated for impairment. | |||||||||
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the original agreement. Loans determined to be impaired are individually evaluated for impairment. When a loan is impaired, the Company measures impairment based on the present value of expected future cash flows discounted at the loan’s effective interest rate, except that as a practical expedient, it may measure impairment based on a loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. A loan is collateral dependent if the repayment of the loan is expected to be provided solely by the underlying collateral. | |||||||||
A restructuring of a debt constitutes a troubled debt restructuring (TDR) if the Company, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. Restructured workout loans typically present an elevated level of credit risk as the borrowers are not able to perform according to the original contractual terms. Loans that are reported as TDRs are considered impaired and measured for impairment as described above. | |||||||||
The determination of the general reserve for loans that are not impaired is based on estimates made by management, to include, but not limited to, consideration of historical losses by portfolio segment from January 1, 2008 (the beginning of the latest business cycle as determined by management) to the most current balance sheet date, internal asset classifications, and qualitative factors to include economic trends in the Company’s service areas, industry experience and trends, geographic concentrations, estimated collateral values, the Company’s underwriting policies, the character of the loan portfolio, and probable incurred losses inherent in the portfolio taken as a whole. During 2012, the Company modified its method of estimating the allowance for loan losses for non-impaired loans. This modification incorporated historical losses from the beginning of the latest business cycle. Previously we utilized historical loss experience based on a rolling eight quarters ending with the most recently completed calendar quarter. This modification had the effect of increasing the required allowance related to the expanded historical loss period by $250,000. The Company believes that, given the recent trend in historical losses, it was prudent to increase the period examined and that a full business cycle was the appropriate period. | |||||||||
The Company maintains a separate allowance for each portfolio segment (loan type). These portfolio segments include commercial, agricultural, real estate construction (including land and development loans), commercial real estate mortgage, residential mortgage, home equity loans, automobile loans and other loans primarily consisting of consumer installment loans and credit card receivables. The allowance for loan losses attributable to each portfolio segment, which includes both impaired loans and loans that are not impaired, is combined to determine the Company’s overall allowance, and is included as a component of loans on the consolidated balance sheet. | |||||||||
The Company assigns a risk rating to all loans, with the exception of automobile and other loans and periodically, but not less than annually, performs detailed reviews of all such loans over $100,000 to identify credit risks and to assess the overall collectability of the portfolio. These risk ratings are also subject to examination by independent specialists engaged by the Company and the Company’s regulators. During these internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which borrowers operate and the fair values of collateral securing these loans. These credit quality indicators are used to assign a risk rating to each individual loan. | |||||||||
The risk ratings can be grouped into five major categories, defined as follows: | |||||||||
Pass – A pass loan is a strong credit with no existing or known potential weaknesses deserving of management’s close attention. | |||||||||
Watch – A Watch loan has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the Company’s credit position at some future date. Watch loans are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. | |||||||||
Substandard – A substandard loan is not adequately protected by the current sound worth and paying capacity of the borrower or the value of the collateral pledged, if any. Loans classified as substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Well defined weaknesses include a project’s lack of marketability, inadequate cash flow or collateral support, failure to complete construction on time or the project’s failure to fulfill economic expectations. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | |||||||||
Doubtful – Loans classified doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions and values, highly questionable and improbable. | |||||||||
Loss – Loans classified as loss are considered uncollectible and charged off immediately. | |||||||||
The general reserve component of the allowance for loan losses associated with loans collectively evaluated for impairment also consists of reserve factors that are based on management’s assessment of the following for each portfolio segment: (1) historical losses and (2) other qualitative factors, including inherent credit risk. These reserve factors are inherently subjective and are driven by the repayment risk associated with each portfolio segment described on the next page. | |||||||||
Commercial – Commercial loans generally possess a lower inherent risk of loss than real estate portfolio segments because these loans are generally underwritten to existing cash flows of operating businesses. Debt coverage is | |||||||||
provided by business cash flows and economic trends influenced by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. | |||||||||
Agricultural – Loans secured by crop production and livestock are especially vulnerable to two risk factors that are largely outside the control of Company and borrowers: commodity prices and weather conditions. | |||||||||
Real estate – Residential and Home Equity Lines of Credit – The degree of risk in residential real estate lending depends primarily on the loan amount in relation to collateral value, the interest rate and the borrower’s ability to repay in an orderly fashion. These loans generally possess a lower inherent risk of loss than other real estate portfolio segments. Economic trends determined by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. Weak economic trends indicate that the borrowers’ capacity to repay their obligations may be deteriorating. | |||||||||
Real estate – Commercial – Commercial real estate mortgage loans generally possess a higher inherent risk of loss than other real estate portfolio segments, except land and construction loans. Adverse economic developments or an overbuilt market impact commercial real estate projects and may result in troubled loans. Trends in vacancy rates of commercial properties impact the credit quality of these loans. High vacancy rates reduce operating revenues and the ability for properties to produce sufficient cash flow to service debt obligations. | |||||||||
Real estate – Construction and Land Development – Construction and land development loans generally possess a higher inherent risk of loss than other real estate portfolio segments. A major risk arises from the necessity to complete projects within specified cost and time lines. Trends in the construction industry significantly impact the credit quality of these loans, as demand drives construction activity. In addition, trends in real estate values significantly impact the credit quality of these loans, as property values determine the economic viability of construction projects. | |||||||||
Automobile – An automobile loan portfolio is usually comprised of a large number of smaller loans scheduled to be amortized over a specific period. Most automobile loans are made directly for consumer purchases, but business vehicles may also be included. Economic trends determined by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. Weak economic trends indicate that the borrowers’ capacity to repay their obligations may be deteriorating. | |||||||||
Other – Other loans primarily consist of consumer and credit card loans and are similar in nature to automobile loans. | |||||||||
Although management believes the allowance to be adequate, ultimate losses may vary from its estimates. At least quarterly, the Board of Directors and management review the adequacy of the allowance, including consideration of the relative risks in the portfolio, current economic conditions and other factors. If the Board of Directors and management determine that changes are warranted based on those reviews, the allowance is adjusted. In addition, the Company’s primary regulators, the FDIC and DBO, as an integral part of their examination process, review the adequacy of the allowance. These regulatory agencies may require additions to the allowance based on their judgment about information available at the time of their examinations. | |||||||||
The Company also maintains a separate allowance for off-balance-sheet commitments. Management estimates anticipated losses using historical data and utilization assumptions. The allowance for these commitments totaled $141,000 at December 31, 2013 and 2012, respectively and is included in accrued interest payable and other liabilities in the consolidated balance sheet. | |||||||||
Other Real Estate | ' | ||||||||
Other Real Estate | |||||||||
Other real estate owned relates to real estate acquired in full or partial settlement of loan obligations, which was $6,399,000 ($9,065,000 less a valuation allowance of $2,666,000) at December 31, 2013 and $5,295,000 ($8,517,000 less a valuation allowance of $3,222,000) at December 31, 2012. Proceeds from sales of other real estate owned totaled $2,404,000, $3,714,000 and $4,937,000 for the years ended December 31, 2013, 2012 and 2011, respectively. For the year ended December 31, 2013 the Company recorded a gain on sale of other real estate owned of $171,000. For the years ended December 31, 2012 and 2011 the Company recorded a loss on sale of other real estate owned of $16,000 and $606,000, respectively. Other real estate owned is initially recorded at fair value less cost to sell when acquired, any excess of the Bank’s recorded investment in the loan balance and accrued interest income over the estimated fair value of the property less costs to sell is charged against the allowance for loan losses. A valuation allowance for losses on other real estate is maintained to provide for temporary declines in value. The allowance is established through a provision for losses on other real estate which is included in other expenses. Subsequent gains or losses on sales or write-downs resulting from permanent impairment are also recorded in other expenses as incurred. | |||||||||
The following table provides a summary of the change in the OREO balance for the years ended December 31, 2013 and 2012: | |||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Beginning balance | $ | 5,295,000 | $ | 8,623,000 | |||||
Additions | 3,824,000 | 1,309,000 | |||||||
Dispositions | (2,234,000 | ) | (3,730,000 | ) | |||||
Write-downs | (486,000 | ) | (907,000 | ) | |||||
Ending balance | $ | 6,399,000 | $ | 5,295,000 | |||||
Intangible Assets | ' | ||||||||
Intangible assets consist of core deposit intangibles related to branch acquisitions and are amortized using the straight-line method over ten years. These assets were fully amortized as of December 31, 2013. The Company evaluates the recoverability and remaining useful life annually to determine whether events or circumstances warrant a revision to the intangible asset or the remaining period of amortization. There were no such events or circumstances in 2013 or 2012. | |||||||||
Premises and Equipment | ' | ||||||||
Premises and Equipment | |||||||||
Premises and equipment are carried at cost. Depreciation is determined using the straight-line method over the estimated useful lives of the related assets. The useful lives of premises are estimated to be twenty to thirty years. The useful lives of furniture, fixtures and equipment are estimated to be two to ten years. Leasehold improvements are amortized over the life of the asset or the life of the related lease, whichever is shorter. When assets are sold or otherwise disposed of, the cost and related accumulated depreciation or amortization are removed from the accounts, and any resulting gain or loss is recognized in income for the period. The cost of maintenance and repairs is charged to expense as incurred. The Company evaluates premises and equipment for financial impairment as events or changes in circumstances indicate that the carrying amount of such assets may not be fully recoverable. | |||||||||
Bank Owned Life Insurance | ' | ||||||||
Bank Owned Life Insurance | |||||||||
The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. | |||||||||
Income Taxes | ' | ||||||||
Income Taxes | |||||||||
The Company files its income taxes on a consolidated basis with its subsidiary. Income tax expense is the total of current year income tax due or refundable and the change in deferred tax assets and liabilities. | |||||||||
Deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the reported amount of assets and liabilities and their tax bases. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. A valuation allowance is recognized if, based on the weight of available evidence management believes it is more likely than not that some portion or all of the deferred tax assets will not be realized. On the consolidated balance sheet, net deferred tax assets are included in accrued interest receivable and other assets. | |||||||||
When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. | |||||||||
Interest expense and penalties associated with unrecognized tax benefits, if any, are classified as income tax expense in the consolidated income statement. There have been no significant changes to unrecognized tax benefits or accrued interest and penalties for the years ended December 31, 2013 and 2012. | |||||||||
Earnings Per Share | ' | ||||||||
Earnings Per Share | |||||||||
Basic earnings per share (EPS), which excludes dilution, is computed by dividing income available to common stockholders (net income plus discount on redemption of preferred stock less preferred dividends and accretion) by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, result in the issuance of common stock which shares in the earnings of the Company. The treasury stock method has been applied to determine the dilutive effect of stock options in computing diluted EPS. | |||||||||
Comprehensive Income | ' | ||||||||
Comprehensive Income | |||||||||
Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale which are also recognized as separate components of equity. There were no sales of available for sale investment securities during the year ended December 31, 2013. The amount reclassified out of other accumulated comprehensive income relating to realized gains on securities available for sale was $403,000 and $666,000 for 2012 and 2011, with the related tax effect of $167,000 and $276,000 respectively. | |||||||||
Dividend Restrictions | ' | ||||||||
Banking regulations require maintaining certain capital levels and may limit the dividend paid by the bank to the holding company or by the holding company to shareholders. | |||||||||
Fair Value of Financial Instruments | ' | ||||||||
Fair Value of Financial Instruments | |||||||||
Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect these estimates. | |||||||||
Stock-Based Compensation | ' | ||||||||
Stock-Based Compensation | |||||||||
Compensation expense related to the Company’s Stock Option Plan, net of related tax (expense)/benefit, recorded in 2013, 2012 and 2011 totaled $37,000, $93,000 and $(38,000) or $0.01, $0.02 and $(0.01) per diluted share, respectively. Compensation expense is recognized over the vesting period on a straight line accounting basis. | |||||||||
The Company determines the fair value of options on the date of grant using a Black-Scholes-Merton option pricing model that uses assumptions based on expected option life, expected stock volatility and the risk-free interest rate. The expected volatility assumptions used by the Company are based on the historical volatility of the Company’s common stock over the most recent period commensurate with the estimated expected life of the Company’s stock options. The Company bases its expected life assumption on its historical experience and on the terms and conditions of the stock options it grants to employees. The risk-free rate is based on the U.S. Treasury yield curve for the periods within the contractual life of the options in effect at the time of the grant. The Company also makes assumptions regarding estimated forfeitures that will impact the total compensation expenses recognized under the Plans. | |||||||||
During 2011 the Company granted options to purchase 248,000 shares of common stock. The fair value of each option was estimated on the date of grant using the following assumptions. | |||||||||
2011 | |||||||||
Expected life of stock options | 5.3 years | ||||||||
Risk free interest rate | 2.26 | % | |||||||
Volatility | 46.1 | % | |||||||
Dividend yields | 3.05 | % | |||||||
Weighted-average fair value of options granted during the year | $ | 0.99 | |||||||
No options were granted during the years ended December 31, 2013 and 2012. | |||||||||
Adoption of New Accounting Standards | ' | ||||||||
In February 2013, the FASB issued an accounting standards update to finalize the reporting requirements for reclassifications of amounts out of accumulated other comprehensive income (“AOCI”). Items reclassified out of AOCI to net income in their entirety must have the effect of the reclassification disclosed according to the respective income statement line item. This information must be provided either on the face of the financial statements by income statement line item, or in a footnote. For public companies, the amendments in the update became effective for interim and annual periods beginning on or after December 15, 2012. As of December 31, 2013, the impact of this update on the Company’s disclosures was minimal as the only changes to AOCI were changes in market values related to available for sale securities. | |||||||||
In July 2013, the Financial Accounting Standards Board issued Accounting Standards Update 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). Current GAAP does not include explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The adoption of ASU 2013-11 will require an unrecognized tax benefit, or a portion of an unrecognized tax benefit to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, unless an exception applies. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2013. The Company is currently evaluating the effect that the provisions of ASU 2013-11 will have on its financial statements. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Summary of the Change in Other Real Estate | ' | ||||||||
The following table provides a summary of the change in the OREO balance for the years ended December 31, 2013 and 2012: | |||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Beginning balance | $ | 5,295,000 | $ | 8,623,000 | |||||
Additions | 3,824,000 | 1,309,000 | |||||||
Dispositions | (2,234,000 | ) | (3,730,000 | ) | |||||
Write-downs | (486,000 | ) | (907,000 | ) | |||||
Ending balance | $ | 6,399,000 | $ | 5,295,000 | |||||
Fair Value of Each Option Estimated on the Date of Grant | ' | ||||||||
The fair value of each option was estimated on the date of grant using the following assumptions. | |||||||||
2011 | |||||||||
Expected life of stock options | 5.3 years | ||||||||
Risk free interest rate | 2.26 | % | |||||||
Volatility | 46.1 | % | |||||||
Dividend yields | 3.05 | % | |||||||
Weighted-average fair value of options granted during the year | $ | 0.99 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||
The carrying amounts and estimated fair values of financial instruments, at December 31, 2013 and December 31, 2012 are as follows: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||||||
Financial assets: | Carrying | Level 1 | Level 2 | Level 3 | Total Fair | ||||||||||||||||
Value | Value | ||||||||||||||||||||
Cash and cash equivalents | $ | 49,917,000 | $ | 49,917,000 | $ | 49,917,000 | |||||||||||||||
Investment securities | 90,343,000 | $ | 90,343,000 | 90,343,000 | |||||||||||||||||
Loans, net | 334,374,000 | $ | 337,392,000 | 337,392,000 | |||||||||||||||||
FHLB stock | 2,226,000 | N/A | |||||||||||||||||||
Accrued interest receivable | 1,691,000 | 260,000 | 1,431,000 | 1,691,000 | |||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 449,439,000 | 386,757,000 | 62,743,000 | 449,500,000 | |||||||||||||||||
Repurchase Agreements | 9,109,000 | 9,109,000 | 9,109,000 | ||||||||||||||||||
Note Payable | 3,000,000 | 3,000,000 | 3,000,000 | ||||||||||||||||||
Subordinated debenture | 7,295,000 | 7,121,000 | 7,121,000 | ||||||||||||||||||
Junior subordinated deferrable interest debentures | 10,310,000 | 7,193,000 | 7,193,000 | ||||||||||||||||||
Accrued interest payable | 98,000 | 6,000 | 58,000 | 34,000 | 98,000 | ||||||||||||||||
Fair Value Measurements at December 31, 2012 Using: | |||||||||||||||||||||
Financial assets: | Carrying | Level 1 | Level 2 | Level 3 | Total Fair | ||||||||||||||||
Value | Value | ||||||||||||||||||||
Cash and cash equivalents | $ | 44,675,000 | $ | 44,675,000 | $ | 44,675,000 | |||||||||||||||
Investment securities | 80,964,000 | $ | 80,964,000 | 80,964,000 | |||||||||||||||||
Loans, net | 310,271,000 | $ | 313,929,000 | 313,929,000 | |||||||||||||||||
FHLB stock | 1,950,000 | N/A | |||||||||||||||||||
Accrued interest receivable | 1,677,000 | 248,000 | 1,429,000 | 1,677,000 | |||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 411,562,000 | 340,986,000 | 70,696,000 | 411,682,000 | |||||||||||||||||
Repurchase Agreements | 7,377,000 | 7,377,000 | 7,377,000 | ||||||||||||||||||
Junior subordinated deferrable interest debentures | 10,310,000 | 3,191,000 | 3,191,000 | ||||||||||||||||||
Accrued interest payable | 1,115,000 | 6,000 | 90,000 | 1,019,000 | 1,115,000 | ||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis at December 31, 2013 are summarized below: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||||
Total Fair | Quoted Prices in | Significant Other | Significant | ||||||||||||||||||
Value | Active Markets for | Observable Inputs | Unobservable | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
U.S. Government-sponsored agencies | $ | 27,097,000 | $ | 27,097,000 | |||||||||||||||||
U.S. Government-sponsored agencies collateralized by mortgage obligations- residential | 61,875,000 | 61,875,000 | |||||||||||||||||||
Obligations of states and political subdivisions | 1,371,000 | 1,371,000 | |||||||||||||||||||
$ | 90,343,000 | $ | — | $ | 90,343,000 | $ | — | ||||||||||||||
Assets and liabilities measured at fair value on a recurring basis at December 31, 2012 are summarized below: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||
Total Fair | Quoted Prices in | Significant Other | Significant | ||||||||||||||||||
Value | Active Markets for | Observable | Unobservable | ||||||||||||||||||
Identical Assets | Inputs (Level 2) | Inputs (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
U.S. Government-sponsored agencies | $ | 38,442,000 | $ | 38,442,000 | |||||||||||||||||
U.S. Government-sponsored agencies collateralized by mortgage obligations-residential | 42,522,000 | 42,522,000 | |||||||||||||||||||
$ | 80,964,000 | $ | — | $ | 80,964,000 | $ | — | ||||||||||||||
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | ' | ||||||||||||||||||||
Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2013 are summarized below: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||||
Total Fair Value | Quoted Prices in | Significant Other | Significant | Total Gains | |||||||||||||||||
Active Markets for | Observable Inputs | Unobservable | (Losses) | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs | |||||||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial | $ | 767,000 | $ | — | $ | — | $ | 767,000 | $ | (16,000 | ) | ||||||||||
Agricultural | — | — | — | ||||||||||||||||||
Real estate – residential | 28,000 | 28,000 | (38,000 | ) | |||||||||||||||||
Real estate – commercial | 1,377,000 | 1,377,000 | (28,000 | ) | |||||||||||||||||
Real estate – construction and land development | — | — | (28,000 | ) | |||||||||||||||||
Equity lines of credit | 360,000 | 360,000 | 86,000 | ||||||||||||||||||
Auto | — | — | — | ||||||||||||||||||
Other | — | — | — | ||||||||||||||||||
Total impaired loans | 2,532,000 | — | — | 2,532,000 | (24,000 | ) | |||||||||||||||
Other real estate: | |||||||||||||||||||||
Real estate – residential | 873,000 | 873,000 | (101,000 | ) | |||||||||||||||||
Real estate – commercial | 983,000 | 983,000 | (9,000 | ) | |||||||||||||||||
Real estate – construction and land development | 4,289,000 | 4,289,000 | (376,000 | ) | |||||||||||||||||
Equity lines of credit | 254,000 | 254,000 | — | ||||||||||||||||||
Total other real estate | 6,399,000 | — | — | 6,399,000 | (486,000 | ) | |||||||||||||||
$8,931,000 | $ | — | $ | — | $ | 8,931,000 | $ | (511,000 | ) | ||||||||||||
Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2012 are summarized below: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||
Total Fair Value | Quoted Prices in | Significant Other | Significant | Total | |||||||||||||||||
Active Markets for | Observable | Unobservable | Gains | ||||||||||||||||||
Identical Assets | Inputs | Inputs | (Losses) | ||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial | $ | 2,933,000 | $ | — | $ | — | $ | 2,933,000 | $ | (346,000 | ) | ||||||||||
Agricultural | 379,000 | 379,000 | (1,000 | ) | |||||||||||||||||
Real estate – residential | 1,140,000 | 1,140,000 | (308,000 | ) | |||||||||||||||||
Real estate – commercial | 3,303,000 | 3,303,000 | (283,000 | ) | |||||||||||||||||
Real estate – construction and land development | 3,055,000 | 3,055,000 | (712,000 | ) | |||||||||||||||||
Equity lines of credit | 690,000 | 690,000 | (392,000 | ) | |||||||||||||||||
Auto | — | — | — | ||||||||||||||||||
Other | — | — | (2,000 | ) | |||||||||||||||||
Total impaired loans | 11,500,000 | — | — | 11,500,000 | (2,044,000 | ) | |||||||||||||||
Other real estate: | |||||||||||||||||||||
Real estate – residential | 818,000 | 818,000 | (85,000 | ) | |||||||||||||||||
Real estate – commercial | 1,953,000 | 1,953,000 | (287,000 | ) | |||||||||||||||||
Real estate – construction and land development | 2,407,000 | 2,407,000 | (535,000 | ) | |||||||||||||||||
Equity lines of credit | 117,000 | 117,000 | — | ||||||||||||||||||
Total other real estate | 5,295,000 | — | — | 5,295,000 | (907,000 | ) | |||||||||||||||
$16,795,000 | $ | — | $ | — | $ | 16,795,000 | $ | (2,951,000 | ) | ||||||||||||
Quantitative Information for Financial Instruments Measured at Fair Value on a Non-Recurring Basis | ' | ||||||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2013 and 2012 (dollars in thousands): | |||||||||||||||||||||
Description | Fair Value | Fair Value | Valuation Technique | Significant Unobservable | Range | Range | |||||||||||||||
12/31/13 | 12/31/12 | Input | (Weighted | (Weighted Average) | |||||||||||||||||
Average) | 12/31/12 | ||||||||||||||||||||
12/31/13 | |||||||||||||||||||||
Impaired Loans: | |||||||||||||||||||||
Commercial | $ | 767 | $ | 2,933 | Sales Comparison | Adjustment for differences between comparable sales | 0% (0%) | 0% - 28% (10%) | |||||||||||||
Agricultural | $ | — | $ | 379 | Sales Comparison | Adjustment for differences between comparable sales | N/A | 1% - 11% (7%) | |||||||||||||
RE – Residential | $ | 28 | $ | 1,140 | Sales Comparison | Adjustment for differences between comparable sales | 8% (8%) | 8% - 10% (8%) | |||||||||||||
RE – Commercial | $ | 1,377 | $ | 3,303 | Sales Comparison | Adjustment for differences between comparable sales | 10% - 12% (11%) | 8% - 11% (9%) | |||||||||||||
Land and Construction | $ | — | $ | 3,055 | Sales Comparison | Adjustment for differences between comparable sales | N/A | 8% - 12% (11%) | |||||||||||||
Equity Lines of Credit | $ | 360 | $ | 690 | Sales Comparison | Adjustment for differences between comparable sales | 8% (8%) | 8% (8%) | |||||||||||||
Other Real Estate: | |||||||||||||||||||||
RE – Residential | $ | 873 | $ | 818 | Sales Comparison | Adjustment for differences between comparable sales | 10% (10%) | 10% (10%) | |||||||||||||
Land and Construction | $ | 4,289 | $ | 2,407 | Sales Comparison | Adjustment for differences between comparable sales | 10% (10%) | 10% (10%) | |||||||||||||
RE – Commercial | $ | 983 | $ | 1,953 | Sales Comparison | Adjustment for differences between comparable sales | 10% (10%) | 10% (10%) | |||||||||||||
Equity Lines of Credit | $ | 254 | $ | 117 | Sales Comparison | Adjustment for differences between comparable sales | 10% (10%) | 10% (10%) |
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Amortized Cost and Estimated Fair Value of Investment Securities | ' | ||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities at December 31, 2013 and 2012 consisted of the following: | |||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Available-for-Sale | Cost | Gains | Losses | Value | |||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored agencies | $ | 27,132,000 | $ | 40,000 | $ | (75,000 | ) | $ | 27,097,000 | ||||||||||||||||
U.S. Government-sponsored agencies collateralized by mortgage obligations- residential | 63,807,000 | 22,000 | (1,954,000 | ) | 61,875,000 | ||||||||||||||||||||
Obligations of states and political subdivisions | 1,384,000 | 4,000 | (17,000 | ) | 1,371,000 | ||||||||||||||||||||
$ | 92,323,000 | $ | 66,000 | $ | (2,046,000 | ) | $ | 90,343,000 | |||||||||||||||||
2012 | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Available-for-Sale | Cost | Gains | Losses | Value | |||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored agencies | $ | 38,291,000 | $ | 154,000 | $ | (3,000 | ) | $ | 38,442,000 | ||||||||||||||||
U.S. Government-sponsored agencies collateralized by mortgage obligations- residential | 42,112,000 | 434,000 | (24,000 | ) | 42,522,000 | ||||||||||||||||||||
$ | 80,403,000 | $ | 588,000 | $ | (27,000 | ) | $ | 80,964,000 | |||||||||||||||||
Investment Securities with Unrealized Losses | ' | ||||||||||||||||||||||||
Investment securities with unrealized losses at December 31, 2013 and 2012 are summarized and classified according to the duration of the loss period as follows: | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
December 31, 2013 | Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government- sponsored agencies | $ | 5,930,000 | $ | 75,000 | $ | 5,930,000 | $ | 75,000 | |||||||||||||||||
U.S. Government agencies collateral- ized by mortgage obligations-residential | 53,603,000 | 1,700,000 | $ | 4,317,000 | $ | 254,000 | 57,920,000 | 1,954,000 | |||||||||||||||||
Obligations of states and political subdi- visions | 928,000 | 17,000 | — | — | 928,000 | 17,000 | |||||||||||||||||||
$ | 60,461,000 | $ | 1,792,000 | $ | 4,317,000 | $ | 254,000 | $ | 64,778,000 | $ | 2,046,000 | ||||||||||||||
Less than 12 Months | |||||||||||||||||||||||||
Fair | Unrealized | ||||||||||||||||||||||||
31-Dec-12 | Value | Losses | |||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||
U.S. Government-sponsored agencies | $ | 2,004,000 | $ | 3,000 | |||||||||||||||||||||
U.S. Government- sponsored agencies collateralized by mortgage obligations-residential | 7,002,000 | 24,000 | |||||||||||||||||||||||
$ | 9,006,000 | $ | 27,000 | ||||||||||||||||||||||
Investment Securities by Contractual Maturity | ' | ||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities at December 31, 2013 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
Amortized | Estimated Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Within one year | $ | 1,000,000 | 1,003,000 | ||||||||||||||||||||||
After one year through five years | 26,132,000 | 26,094,000 | |||||||||||||||||||||||
After five years through ten years | 1,384,000 | 1,371,000 | |||||||||||||||||||||||
Investment securities not due at a single maturity date: | |||||||||||||||||||||||||
Government-sponsored mortgage-backed securities | 63,807,000 | 61,875,000 | |||||||||||||||||||||||
$ | 92,323,000 | $ | 90,343,000 | ||||||||||||||||||||||
Loans_and_the_Allowance_for_Lo1
Loans and the Allowance for Loan Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Summary of Outstanding Loans | ' | ||||||||||||||||||||||||||||||||||||
Outstanding loans are summarized below: | |||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Commercial | $ | 32,612,000 | $ | 29,552,000 | |||||||||||||||||||||||||||||||||
Agricultural | 30,647,000 | 35,124,000 | |||||||||||||||||||||||||||||||||||
Real estate – residential | 31,322,000 | 34,666,000 | |||||||||||||||||||||||||||||||||||
Real estate – commercial | 155,942,000 | 139,546,000 | |||||||||||||||||||||||||||||||||||
Real estate – construction and land development | 17,793,000 | 15,801,000 | |||||||||||||||||||||||||||||||||||
Equity lines of credit | 35,800,000 | 36,873,000 | |||||||||||||||||||||||||||||||||||
Auto | 30,305,000 | 19,283,000 | |||||||||||||||||||||||||||||||||||
Other | 4,130,000 | 4,212,000 | |||||||||||||||||||||||||||||||||||
338,551,000 | 315,057,000 | ||||||||||||||||||||||||||||||||||||
Deferred loan costs, net | 1,340,000 | 900,000 | |||||||||||||||||||||||||||||||||||
Allowance for loan losses | (5,517,000 | ) | (5,686,000 | ) | |||||||||||||||||||||||||||||||||
$ | 334,374,000 | $ | 310,271,000 | ||||||||||||||||||||||||||||||||||
Changes in the Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||||||||||
Changes in the allowance for loan losses were as follows: | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 5,686,000 | $ | 6,908,000 | $ | 7,324,000 | |||||||||||||||||||||||||||||||
Provision charged to operations | 1,400,000 | 2,350,000 | 3,500,000 | ||||||||||||||||||||||||||||||||||
Losses charged to allowance | (1,915,000 | ) | (3,901,000 | ) | (4,247,000 | ) | |||||||||||||||||||||||||||||||
Recoveries | 346,000 | 329,000 | 331,000 | ||||||||||||||||||||||||||||||||||
Balance, end of year | $ | 5,517,000 | $ | 5,686,000 | $ | 6,908,000 | |||||||||||||||||||||||||||||||
Loans by Class Modified as Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructurings that occurred during the twelve months ending December 31, 2013: | |||||||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||||||
Loans | Outstanding | Recorded | |||||||||||||||||||||||||||||||||||
Recorded Investment | Investment | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||||||
Auto | 1 | $ | 8,000 | $ | 7,000 | ||||||||||||||||||||||||||||||||
Other | 1 | 9,000 | 9,000 | ||||||||||||||||||||||||||||||||||
Total | 2 | $ | 17,000 | $ | 16,000 | ||||||||||||||||||||||||||||||||
The troubled debt restructurings described above resulted in no allowance for loan losses or charge-offs during the year ending December 31, 2013. | |||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructurings that occurred during the twelve months ending December 31, 2012: | |||||||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||||||
Loans | Outstanding | Recorded | |||||||||||||||||||||||||||||||||||
Recorded Investment | Investment | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||||||
Commercial | 1 | $ | 24,000 | $ | 24,000 | ||||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||||||
Residential | 2 | 819,000 | 800,000 | ||||||||||||||||||||||||||||||||||
Construction and land development | 3 | 289,000 | 289,000 | ||||||||||||||||||||||||||||||||||
Commercial | 3 | 2,497,000 | 2,491,000 | ||||||||||||||||||||||||||||||||||
Auto | 2 | 11,000 | 11,000 | ||||||||||||||||||||||||||||||||||
Total | 11 | $ | 3,640,000 | $ | 3,615,000 | ||||||||||||||||||||||||||||||||
Loans by Class Modified as Troubled Debt Restructurings With a Payment Default | ' | ||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the twelve months ended December 31, 2013. | |||||||||||||||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||||||||||||||
Loans | Investment | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||||||
Real estate – construction and land development | 1 | $ | 837,000 | ||||||||||||||||||||||||||||||||||
Total | 1 | $ | 837,000 | ||||||||||||||||||||||||||||||||||
The troubled debt restructurings that subsequently defaulted described above increased the allowance for loan losses by $158,000 and resulted in no charge-offs during the year ending December 31, 2013. | |||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the twelve months ended December 31, 2012. | |||||||||||||||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||||||||||||||
Loans | Investment | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||||||||||
Real estate – construction and land development | 1 | $ | 2,978,000 | ||||||||||||||||||||||||||||||||||
Total | 1 | $ | 2,978,000 | ||||||||||||||||||||||||||||||||||
Loan Portfolio Allocated by Management's Internal Risk Ratings | ' | ||||||||||||||||||||||||||||||||||||
The following tables show the loan portfolio allocated by management’s internal risk ratings at the dates indicated, in thousands: | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
Credit Exposure Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||||||
December 31, 2013 | Commercial | Agricultural | Real | Real Estate- | Real Estate- | Equity | Total | ||||||||||||||||||||||||||||||
Estate- | Commercial | Construction | LOC | ||||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||
Pass | $ | 30,477 | $ | 30,213 | $ | 30,007 | $ | 147,605 | $ | 17,733 | $ | 34,742 | $ | 290,777 | |||||||||||||||||||||||
Watch | 1,420 | 345 | 346 | 3,484 | — | 157 | 5,752 | ||||||||||||||||||||||||||||||
Substandard | 665 | 89 | 969 | 4,853 | 60 | 890 | 7,526 | ||||||||||||||||||||||||||||||
Doubtful | 50 | — | — | — | — | 11 | 61 | ||||||||||||||||||||||||||||||
Total | $ | 32,612 | $ | 30,647 | $ | 31,322 | $ | 155,942 | $ | 17,793 | $ | 35,800 | $ | 304,116 | |||||||||||||||||||||||
Commercial Credit Exposure Credit Risk Profile by Internally Assigned Grade | |||||||||||||||||||||||||||||||||||||
31-Dec-12 | Commercial | Agricultural | Real Estate- | Real Estate- | Real Estate- | Equity | Total | ||||||||||||||||||||||||||||||
Residential | Commercial | Construction | LOC | ||||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||
Pass | $ | 27,260 | $ | 33,801 | $ | 31,239 | $ | 128,919 | $ | 10,863 | $ | 34,142 | $ | 266,224 | |||||||||||||||||||||||
Watch | 1,145 | 466 | 751 | 3,237 | 149 | 965 | 6,713 | ||||||||||||||||||||||||||||||
Substandard | 1,138 | 857 | 2,676 | 7,390 | 4,789 | 1,766 | 18,616 | ||||||||||||||||||||||||||||||
Doubtful | 9 | — | — | — | — | — | 9 | ||||||||||||||||||||||||||||||
Total | $ | 29,552 | $ | 35,124 | $ | 34,666 | $ | 139,546 | $ | 15,801 | $ | 36,873 | $ | 291,562 | |||||||||||||||||||||||
Consumer Credit Exposure | Consumer Credit Exposure | ||||||||||||||||||||||||||||||||||||
Credit Risk Profile Based on Payment Activity | Credit Risk Profile Based on Payment Activity | ||||||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Auto | Other | Total | Auto | Other | Total | ||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||
Performing | $ | 30,228 | $ | 4,113 | $ | 34,341 | $ | 19,239 | $ | 4,193 | $ | 23,432 | |||||||||||||||||||||||||
Non-performing | 77 | 17 | 94 | 44 | 19 | 63 | |||||||||||||||||||||||||||||||
Total | $ | 30,305 | $ | 4,130 | $ | 34,435 | $ | 19,283 | $ | 4,212 | $ | 23,495 | |||||||||||||||||||||||||
Allocation of the Allowance for Loan Losses by Impairment Methodology | ' | ||||||||||||||||||||||||||||||||||||
The following tables show the allocation of the allowance for loan losses at the dates indicated, in thousands: | |||||||||||||||||||||||||||||||||||||
Commercial | Agricultural | Real Estate- | Real Estate- | Real Estate- | Equity LOC | Auto | Other | Total | |||||||||||||||||||||||||||||
Residential | Commercial | Construction | |||||||||||||||||||||||||||||||||||
Year ended 12/31/13: | |||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 855 | $ | 159 | $ | 894 | $ | 1,656 | $ | 950 | $ | 736 | $ | 289 | $ | 147 | $ | 5,686 | |||||||||||||||||||
Charge-offs | (401 | ) | — | (257 | ) | (162 | ) | (735 | ) | (92 | ) | (134 | ) | (134 | ) | (1,915 | ) | ||||||||||||||||||||
Recoveries | 140 | — | 94 | 15 | — | 1 | 55 | 41 | 346 | ||||||||||||||||||||||||||||
Provision | 191 | 5 | (93 | ) | 265 | 729 | (32 | ) | 239 | 96 | 1,400 | ||||||||||||||||||||||||||
Ending balance | $ | 785 | $ | 164 | $ | 638 | $ | 1,774 | $ | 944 | $ | 613 | $ | 449 | $ | 150 | $ | 5,517 | |||||||||||||||||||
Year ended 12/31/12: | |||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 1,025 | $ | 330 | $ | 698 | $ | 1,925 | $ | 2,006 | $ | 635 | $ | 95 | $ | 194 | $ | 6,908 | |||||||||||||||||||
Charge-offs | (909 | ) | (250 | ) | (358 | ) | (258 | ) | (1,524 | ) | (377 | ) | (72 | ) | (153 | ) | (3,901 | ) | |||||||||||||||||||
Recoveries | 66 | — | 1 | 7 | 81 | 46 | 51 | 77 | 329 | ||||||||||||||||||||||||||||
Provision | 673 | 79 | 553 | (18 | ) | 387 | 432 | 215 | 29 | 2,350 | |||||||||||||||||||||||||||
Ending balance | $ | 855 | $ | 159 | $ | 894 | $ | 1,656 | $ | 950 | $ | 736 | $ | 289 | $ | 147 | $ | 5,686 | |||||||||||||||||||
Year ended 12/31/11: | |||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 760 | $ | 184 | $ | 632 | $ | 1,819 | $ | 3,011 | $ | 652 | $ | 112 | $ | 154 | $ | 7,324 | |||||||||||||||||||
Charge-offs | (446 | ) | (93 | ) | (147 | ) | (336 | ) | (2,603 | ) | (311 | ) | (64 | ) | (247 | ) | (4,247 | ) | |||||||||||||||||||
Recoveries | 93 | 106 | 1 | 17 | 5 | 2 | 82 | 25 | 331 | ||||||||||||||||||||||||||||
Provision | 618 | 133 | 212 | 425 | 1,593 | 292 | (35 | ) | 262 | 3,500 | |||||||||||||||||||||||||||
Ending balance | $ | 1,025 | $ | 330 | $ | 698 | $ | 1,925 | $ | 2,006 | $ | 635 | $ | 95 | $ | 194 | $ | 6,908 | |||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 79 | $ | — | $ | 200 | $ | 232 | $ | 13 | $ | 105 | $ | — | $ | — | $ | 629 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 706 | $ | 164 | $ | 438 | $ | 1,542 | $ | 931 | $ | 508 | $ | 449 | $ | 150 | $ | 4,888 | |||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||
Ending balance | $ | 32,612 | $ | 30,647 | $ | 31,322 | $ | 155,942 | $ | 17,793 | $ | 35,800 | $ | 30,305 | $ | 4,130 | $ | 338,551 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1,324 | $ | 267 | $ | 2,475 | $ | 3,074 | $ | 1,737 | $ | 861 | $ | 77 | $ | — | $ | 9,815 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 31,288 | $ | 30,380 | $ | 28,847 | $ | 152,868 | $ | 16,056 | $ | 34,939 | $ | 30,228 | $ | 4,130 | $ | 328,736 | |||||||||||||||||||
Year ended 12/31/12: | Commercial | Agricultural | Real Estate- | Real Estate- | Real Estate- | Equity LOC | Auto | Other | Total | ||||||||||||||||||||||||||||
Residential | Commercial | Construction | |||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 192 | $ | 1 | $ | 459 | $ | 284 | $ | 68 | $ | 180 | $ | — | $ | 2 | $ | 1,186 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 663 | $ | 158 | $ | 435 | $ | 1,372 | $ | 882 | $ | 556 | $ | 289 | $ | 145 | $ | 4,500 | |||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||
Ending balance | $ | 29,552 | $ | 35,124 | $ | 34,666 | $ | 139,546 | $ | 15,801 | $ | 36,873 | $ | 19,283 | $ | 4,212 | $ | 315,057 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 3,478 | $ | 647 | $ | 3,598 | $ | 4,528 | $ | 5,191 | $ | 1,360 | $ | 44 | $ | 4 | $ | 18,850 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 26,074 | $ | 34,477 | $ | 31,068 | $ | 135,018 | $ | 10,610 | $ | 35,513 | $ | 19,239 | $ | 4,208 | $ | 296,207 | |||||||||||||||||||
Aging Analysis of the Loan Portfolio by Time Past Due | ' | ||||||||||||||||||||||||||||||||||||
The following tables show an aging analysis of the loan portfolio by the time past due, in thousands: | |||||||||||||||||||||||||||||||||||||
31-Dec-13 | 30-89 Days | 90 Days and | Nonaccrual | Total | Current | Total | |||||||||||||||||||||||||||||||
Past Due | Still Accruing | Past Due | |||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 129 | $ | — | $ | 1,295 | $ | 1,424 | $ | 31,188 | $ | 32,612 | |||||||||||||||||||||||||
Agricultural | — | — | — | — | 30,647 | 30,647 | |||||||||||||||||||||||||||||||
Real estate – construction | 25 | — | 18 | 43 | 17,750 | 17,793 | |||||||||||||||||||||||||||||||
Real estate | 304 | — | 2,369 | 2,673 | 153,269 | 155,942 | |||||||||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||||||||||
Real estate | 695 | — | 899 | 1,594 | 29,728 | 31,322 | |||||||||||||||||||||||||||||||
Equity LOC | 72 | — | 861 | 933 | 34,867 | 35,800 | |||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||
Auto | 244 | — | 77 | 321 | 29,984 | 30,305 | |||||||||||||||||||||||||||||||
Other | 63 | 17 | — | 80 | 4,050 | 4,130 | |||||||||||||||||||||||||||||||
Total | $ | 1,532 | $ | 17 | $ | 5,519 | $ | 7,068 | $ | 331,483 | $ | 338,551 | |||||||||||||||||||||||||
31-Dec-12 | 30-89 Days | 90 Days and | Nonaccrual | Total | Current | Total | |||||||||||||||||||||||||||||||
Past Due | Still Accruing | Past Due | |||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 329 | $ | — | $ | 3,303 | $ | 3,632 | $ | 25,920 | $ | 29,552 | |||||||||||||||||||||||||
Agricultural | — | — | 380 | 380 | 34,744 | 35,124 | |||||||||||||||||||||||||||||||
Real estate – construction | 156 | — | 3,314 | 3,470 | 12,331 | 15,801 | |||||||||||||||||||||||||||||||
Real estate | 1,271 | — | 3,378 | 4,649 | 134,897 | 139,546 | |||||||||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||||||||||
Real estate | 242 | — | 1,911 | 2,153 | 32,513 | 34,666 | |||||||||||||||||||||||||||||||
Equity LOC | 527 | — | 1,349 | 1,876 | 34,997 | 36,873 | |||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||
Auto | 151 | 11 | 44 | 206 | 19,077 | 19,283 | |||||||||||||||||||||||||||||||
Other | 102 | 4 | 4 | 110 | 4,102 | 4,212 | |||||||||||||||||||||||||||||||
Total | $ | 2,778 | $ | 15 | $ | 13,683 | $ | 16,476 | $ | 298,581 | $ | 315,057 | |||||||||||||||||||||||||
Information Related to Impaired Loans at Dates Indicated | ' | ||||||||||||||||||||||||||||||||||||
The following tables show information related to impaired loans at the dates indicated, in thousands: | |||||||||||||||||||||||||||||||||||||
As of December 31, 2013: | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 1,224 | $ | 1,493 | $ | 1,239 | $ | 3 | |||||||||||||||||||||||||||||
Agricultural | 267 | 267 | 267 | 20 | |||||||||||||||||||||||||||||||||
Real estate – construction | 1,325 | 1,325 | 1,384 | 79 | |||||||||||||||||||||||||||||||||
Real estate – commercial | 2,237 | 2,675 | 2,489 | 53 | |||||||||||||||||||||||||||||||||
Real estate – residential | 2,024 | 2,035 | 2,057 | 89 | |||||||||||||||||||||||||||||||||
Equity Lines of Credit | 339 | 339 | 294 | 9 | |||||||||||||||||||||||||||||||||
Auto | 77 | 77 | 20 | 3 | |||||||||||||||||||||||||||||||||
Other | — | — | — | — | |||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 100 | $ | 100 | $ | 79 | $ | 58 | $ | — | |||||||||||||||||||||||||||
Agricultural | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Real estate – construction | 412 | 412 | 13 | 417 | 25 | ||||||||||||||||||||||||||||||||
Real estate – commercial | 837 | 837 | 232 | 994 | — | ||||||||||||||||||||||||||||||||
Real estate – residential | 451 | 451 | 200 | 452 | 10 | ||||||||||||||||||||||||||||||||
Equity Lines of Credit | 522 | 522 | 105 | 511 | 7 | ||||||||||||||||||||||||||||||||
Auto | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 1,324 | $ | 1,593 | $ | 79 | $ | 1,297 | $ | 3 | |||||||||||||||||||||||||||
Agricultural | 267 | 267 | — | 267 | 20 | ||||||||||||||||||||||||||||||||
Real estate – construction | 1,737 | 1,737 | 13 | 1,801 | 104 | ||||||||||||||||||||||||||||||||
Real estate – commercial | 3,074 | 3,512 | 232 | 3,483 | 53 | ||||||||||||||||||||||||||||||||
Real estate – residential | 2,475 | 2,486 | 200 | 2,509 | 99 | ||||||||||||||||||||||||||||||||
Equity Lines of Credit | 861 | 861 | 105 | 805 | 16 | ||||||||||||||||||||||||||||||||
Auto | 77 | 77 | — | 20 | 3 | ||||||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Total | $ | 9,815 | $ | 10,533 | $ | 629 | $ | 10,182 | $ | 298 | |||||||||||||||||||||||||||
As of December 31, 2012: | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 1,022 | $ | 1,398 | $ | 1,597 | $ | 16 | |||||||||||||||||||||||||||||
Agricultural | 245 | 725 | 573 | 39 | |||||||||||||||||||||||||||||||||
Real estate – construction | 1,429 | 1,503 | 1,106 | 98 | |||||||||||||||||||||||||||||||||
Real estate – commercial | 941 | 1,013 | 1,997 | 96 | |||||||||||||||||||||||||||||||||
Real estate – residential | 343 | 354 | 1,336 | 28 | |||||||||||||||||||||||||||||||||
Equity Lines of Credit | 490 | 490 | 613 | 22 | |||||||||||||||||||||||||||||||||
Auto | 44 | 44 | 60 | 5 | |||||||||||||||||||||||||||||||||
Other | 2 | 2 | 45 | 6 | |||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 2,456 | $ | 2,849 | $ | 192 | $ | 2,765 | $ | 20 | |||||||||||||||||||||||||||
Agricultural | 402 | 402 | 1 | 403 | 20 | ||||||||||||||||||||||||||||||||
Real estate – construction | 3,762 | 5,187 | 68 | 2,056 | 35 | ||||||||||||||||||||||||||||||||
Real estate – commercial | 3,587 | 3,588 | 284 | 3,473 | 102 | ||||||||||||||||||||||||||||||||
Real estate – residential | 3,255 | 3,255 | 459 | 2,818 | 105 | ||||||||||||||||||||||||||||||||
Equity Lines of Credit | 870 | 1,082 | 180 | 974 | 5 | ||||||||||||||||||||||||||||||||
Auto | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Other | 2 | 2 | 2 | — | — | ||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 3,478 | $ | 4,247 | $ | 192 | $ | 4,362 | $ | 36 | |||||||||||||||||||||||||||
Agricultural | 647 | 1,127 | 1 | 976 | 59 | ||||||||||||||||||||||||||||||||
Real estate – construction | 5,191 | 6,690 | 68 | 3,162 | 133 | ||||||||||||||||||||||||||||||||
Real estate – commercial | 4,528 | 4,601 | 284 | 5,470 | 198 | ||||||||||||||||||||||||||||||||
Real estate – residential | 3,598 | 3,609 | 459 | 4,154 | 133 | ||||||||||||||||||||||||||||||||
Equity Lines of Credit | 1,360 | 1,572 | 180 | 1,587 | 27 | ||||||||||||||||||||||||||||||||
Auto | 44 | 44 | — | 60 | 5 | ||||||||||||||||||||||||||||||||
Other | 4 | 4 | 2 | 45 | 6 | ||||||||||||||||||||||||||||||||
Total | $ | 18,850 | $ | 21,894 | $ | 1,186 | $ | 19,816 | $ | 597 | |||||||||||||||||||||||||||
The following table shows information related to impaired loans at the date indicated, in thousands: | |||||||||||||||||||||||||||||||||||||
As of December 31, 2011: | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 2,506 | $ | 2,882 | $ | 2,458 | $ | 56 | |||||||||||||||||||||||||||||
Agricultural | 923 | 1,153 | 931 | 62 | |||||||||||||||||||||||||||||||||
Real estate – construction | 1,955 | 2,210 | 6,911 | 117 | |||||||||||||||||||||||||||||||||
Real estate – commercial | 1,707 | 1,707 | 4,751 | 70 | |||||||||||||||||||||||||||||||||
Real estate – residential | 1,711 | 1,739 | 2,069 | 106 | |||||||||||||||||||||||||||||||||
Equity Lines of Credit | 1,345 | 1,345 | 1,285 | 22 | |||||||||||||||||||||||||||||||||
Auto | 76 | 76 | 102 | 10 | |||||||||||||||||||||||||||||||||
Other | 49 | 49 | 91 | 2 | |||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 2,440 | $ | 2,440 | $ | 310 | $ | 1,349 | $ | 25 | |||||||||||||||||||||||||||
Agricultural | 345 | 345 | 250 | 345 | — | ||||||||||||||||||||||||||||||||
Real estate – construction | 4,799 | 4,850 | 901 | 2,521 | 186 | ||||||||||||||||||||||||||||||||
Real estate – commercial | 3,850 | 3,850 | 148 | 1,664 | — | ||||||||||||||||||||||||||||||||
Real estate – residential | 2,546 | 2,546 | 355 | 1,005 | 9 | ||||||||||||||||||||||||||||||||
Equity Lines of Credit | 149 | 149 | 101 | 53 | 1 | ||||||||||||||||||||||||||||||||
Auto | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Other | 1 | 1 | 1 | 1 | — | ||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 4,946 | $ | 5,322 | $ | 310 | $ | 3,807 | $ | 81 | |||||||||||||||||||||||||||
Agricultural | 1,268 | 1,498 | 250 | 1,276 | 62 | ||||||||||||||||||||||||||||||||
Real estate – construction | 6,754 | 7,060 | 901 | 9,432 | 303 | ||||||||||||||||||||||||||||||||
Real estate – commercial | 5,557 | 5,557 | 148 | 6,415 | 70 | ||||||||||||||||||||||||||||||||
Real estate – residential | 4,257 | 4,285 | 355 | 3,074 | 115 | ||||||||||||||||||||||||||||||||
Equity Lines of Credit | 1,494 | 1,494 | 101 | 1,338 | 23 | ||||||||||||||||||||||||||||||||
Auto | 76 | 76 | — | 102 | 10 | ||||||||||||||||||||||||||||||||
Other | 50 | 50 | 1 | 92 | 2 | ||||||||||||||||||||||||||||||||
Total | $ | 24,402 | $ | 25,342 | $ | 2,066 | $ | 25,536 | $ | 666 | |||||||||||||||||||||||||||
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Premises and Equipment Consisted | ' | ||||||||
Premises and equipment consisted of the following: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Land | $ | 2,628,000 | $ | 2,628,000 | |||||
Premises | 15,793,000 | 15,417,000 | |||||||
Furniture, equipment and leasehold improvements | 9,643,000 | 10,179,000 | |||||||
28,064,000 | 28,224,000 | ||||||||
Less accumulated depreciation and amortization | (15,545,000 | ) | (14,953,000 | ) | |||||
$ | 12,519,000 | $ | 13,271,000 | ||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Schedule of Interest-Bearing Deposits | ' | ||||||||
Interest-bearing deposits consisted of the following: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Interest-bearing demand deposits | $ | 82,687,000 | $ | 83,384,000 | |||||
Money market | 47,331,000 | 43,751,000 | |||||||
Savings | 93,922,000 | 70,205,000 | |||||||
Time, $100,000 or more | 23,828,000 | 27,886,000 | |||||||
Other time | 38,855,000 | 42,690,000 | |||||||
$ | 286,623,000 | $ | 267,916,000 | ||||||
Scheduled Maturities of Time Deposits | ' | ||||||||
At December 31, 2013, the scheduled maturities of time deposits were as follows: | |||||||||
Year Ending | |||||||||
December 31, | |||||||||
2014 | $ | 49,504,000 | |||||||
2015 | 9,863,000 | ||||||||
2016 | 2,505,000 | ||||||||
2017 | 446,000 | ||||||||
2018 | 327,000 | ||||||||
thereafter | 38,000 | ||||||||
$ | 62,683,000 | ||||||||
Securities_Sold_under_Agreemen1
Securities Sold under Agreements to Repurchase (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Text Block [Abstract] | ' | ||||
Securities Sold under Agreements to Repurchase | ' | ||||
Information concerning securities sold under agreements to repurchase during 2013 and 2012 is summarized as follows: | |||||
2013 | |||||
Average daily balance during the year | $ | 7,285,000 | |||
Average interest rate during the year | 0.18 | % | |||
Maximum month-end balance during the year | $ | 9,109,000 | |||
Weighted average interest rate at year-end | 0.09 | % | |||
2012 | |||||
Average daily balance during the year | $ | 5,982,000 | |||
Average interest rate during the year | 0.27 | % | |||
Maximum month-end balance during the year | $ | 8,041,000 | |||
Weighted average interest rate at year-end | 0.25 | % |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Future Minimum Lease Payments | ' | ||||||||
The Company has commitments for leasing premises under the terms of noncancelable operating leases expiring from 2015 to 2016. Future minimum lease payments are as follows: | |||||||||
Year Ending | |||||||||
December 31, | |||||||||
2014 | $ | 159,000 | |||||||
2015 | 128,000 | ||||||||
2016 | 83,000 | ||||||||
$ | 370,000 | ||||||||
Financial Instruments Representing Off-Balance-Sheet Credit Risk | ' | ||||||||
The following financial instruments represent off-balance-sheet credit risk: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Commitments to extend credit | $ | 84,229,000 | $ | 76,030,000 | |||||
Letters of credit | $ | 60,000 | $ | 110,000 |
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||
For the Year Ended December 31, | |||||||||||||||||
(In thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||||||
Net Income: | |||||||||||||||||
Net income | $ | 3,431 | $ | 1,950 | $ | 941 | |||||||||||
Discount on redemption of preferred shares | 565 | — | — | ||||||||||||||
Dividends and accretion on preferred shares | (347 | ) | (684 | ) | (684 | ) | |||||||||||
Net income available to common shareholders | $ | 3,649 | $ | 1,266 | $ | 257 | |||||||||||
Earnings Per Share: | |||||||||||||||||
Basic earnings per share | $ | 0.76 | $ | 0.26 | $ | 0.05 | |||||||||||
Diluted earnings per share | $ | 0.75 | $ | 0.26 | $ | 0.05 | |||||||||||
Weighted Average Number of Shares Outstanding: | |||||||||||||||||
Basic shares | 4,780 | 4,776 | 4,776 | ||||||||||||||
Diluted shares | 4,883 | 4,782 | 4,776 | ||||||||||||||
Stock Option Activity | ' | ||||||||||||||||
A summary of the activity within the 2001 Stock Option Plan follows: | |||||||||||||||||
Shares | Weighted | Weighted | Intrinsic | ||||||||||||||
Average | Average | Value | |||||||||||||||
Exercise | Remaining | ||||||||||||||||
Price | Contractual | ||||||||||||||||
Term | |||||||||||||||||
Options outstanding at January 1, 2011 | 312,030 | $ | 13.41 | ||||||||||||||
Options granted | 248,000 | 2.95 | |||||||||||||||
Options cancelled | (77,250 | ) | 9.05 | ||||||||||||||
Options outstanding at December 31, 2011 | 482,780 | $ | 8.74 | ||||||||||||||
Options cancelled | (62,974 | ) | 9.17 | ||||||||||||||
Options outstanding at December 31, 2012 | 419,806 | $ | 8.67 | ||||||||||||||
Options cancelled | (43,347 | ) | 11.34 | ||||||||||||||
Options exercised | (11,400 | ) | 2.95 | ||||||||||||||
Options outstanding at December 31, 2013 | 365,059 | $ | 8.53 | 3.4 | $ | 631,110 | |||||||||||
Options exercisable at December 31, 2013 | 265,266 | $ | 10.63 | 2.8 | $ | 304,764 | |||||||||||
Expected to vest after December 31, 2013 | 83,893 | $ | 2.95 | 5.2 | $ | 274,329 | |||||||||||
Regulatory Capital | ' | ||||||||||||||||
The Bank is also subject to additional capital guidelines under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table on the following page and cannot be subject to a written agreement, order or capital directive issued by the FDIC. Management believes that the Company and the Bank met all capital adequacy requirements to which they are subject. | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Amount | Ratio | Amount | Ratio | ||||||||||||||
Leverage Ratio | |||||||||||||||||
Plumas Bancorp and Subsidiary | $ | 40,909,000 | 7.8 | % | $ | 49,052,000 | 10.3 | % | |||||||||
Minimum regulatory requirement | $ | 20,856,000 | 4 | % | $ | 19,040,000 | 4 | % | |||||||||
Plumas Bank | $ | 50,748,000 | 9.7 | % | $ | 49,662,000 | 10.4 | % | |||||||||
Minimum requirement for “Well- Capitalized” institution under the prompt corrective action | $ | 26,026,000 | 5 | % | $ | 23,852,000 | 5 | % | |||||||||
Minimum regulatory requirement | $ | 20,821,000 | 4 | % | $ | 19,032,000 | 4 | % | |||||||||
Tier 1 Risk-Based Capital Ratio | |||||||||||||||||
Plumas Bancorp and Subsidiary | $ | 40,909,000 | 10.7 | % | $ | 49,052,000 | 13.9 | % | |||||||||
Minimum regulatory requirement | $ | 15,332,000 | 4 | % | $ | 14,143,000 | 4 | % | |||||||||
Plumas Bank | $ | 50,748,000 | 13.2 | % | $ | 49,662,000 | 14.1 | % | |||||||||
Minimum requirement for “Well- Capitalized” institution under the prompt corrective action | $ | 22,986,000 | 6 | % | $ | 21,200,000 | 6 | % | |||||||||
Minimum regulatory requirement | $ | 15,324,000 | 4 | % | $ | 14,133,000 | 4 | % | |||||||||
Total Risk-Based Capital Ratio | |||||||||||||||||
Plumas Bancorp and Subsidiary | $ | 53,006,000 | 13.8 | % | $ | 53,489,000 | 15.1 | % | |||||||||
Minimum regulatory requirement | $ | 30,664,000 | 8 | % | $ | 28,286,000 | 8 | % | |||||||||
Plumas Bank | $ | 55,547,000 | 14.5 | % | $ | 54,096,000 | 15.3 | % | |||||||||
Minimum requirement for “Well- Capitalized” institution under the prompt corrective action | $ | 38,310,000 | 10 | % | $ | 35,333,000 | 10 | % | |||||||||
Minimum regulatory requirement | $ | 30,648,000 | 8 | % | $ | 28,266,000 | 8 | % |
Other_Expenses_Tables
Other Expenses (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||
Summary of Other Expenses | ' | ||||||||||||
Other expenses consisted of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Outside service fees | $ | 1,855,000 | $ | 1,503,000 | $ | 1,270,000 | |||||||
Professional fees | 831,000 | 875,000 | 730,000 | ||||||||||
FDIC Insurance | 435,000 | 613,000 | 1,099,000 | ||||||||||
OREO expenses | 310,000 | 187,000 | 422,000 | ||||||||||
Business development | 291,000 | 268,000 | 262,000 | ||||||||||
Telephone and data communications | 287,000 | 308,000 | 331,000 | ||||||||||
Advertising and promotion | 281,000 | 251,000 | 236,000 | ||||||||||
Director compensation and retirement | 232,000 | 255,000 | 229,000 | ||||||||||
Armored car and courier | 228,000 | 224,000 | 225,000 | ||||||||||
Loan collection expenses | 212,000 | 219,000 | 261,000 | ||||||||||
Core deposit intangible amortization | 128,000 | 173,000 | 173,000 | ||||||||||
Stationery and supplies | 113,000 | 124,000 | 140,000 | ||||||||||
Insurance | 112,000 | 120,000 | 42,000 | ||||||||||
Postage | 51,000 | 104,000 | 190,000 | ||||||||||
(Gain) loss on sale of other real estate | (171,000 | ) | 16,000 | 606,000 | |||||||||
Other operating expenses | 286,000 | 239,000 | 168,000 | ||||||||||
$ | 5,481,000 | $ | 5,479,000 | $ | 6,384,000 | ||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Provision for Income Taxes | ' | ||||||||||||
The provision for income taxes for the years ended December 31, 2013, 2012 and 2011 consisted of the following: | |||||||||||||
Federal | State | Total | |||||||||||
2013 | |||||||||||||
Current | $ | 60,000 | $ | 22,000 | $ | 82,000 | |||||||
Deferred | 1,578,000 | 507,000 | 2,085,000 | ||||||||||
Provision for income taxes | $ | 1,638,000 | $ | 529,000 | $ | 2,167,000 | |||||||
Federal | State | Total | |||||||||||
2012 | |||||||||||||
Current | $ | 25,000 | $ | 3,000 | $ | 28,000 | |||||||
Deferred | 812,000 | 230,000 | 1,042,000 | ||||||||||
Provision for income taxes | $ | 837,000 | $ | 233,000 | $ | 1,070,000 | |||||||
Federal | State | Total | |||||||||||
2011 | |||||||||||||
Current | $ | 34,000 | $ | 2,000 | $ | 36,000 | |||||||
Deferred | 228,000 | 31,000 | 259,000 | ||||||||||
Provision for income taxes | $ | 262,000 | $ | 33,000 | $ | 295,000 | |||||||
Deferred Tax Assets (Liabilities) | ' | ||||||||||||
Deferred tax assets (liabilities) consisted of the following: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Allowance for loan losses | $ | 29,000 | $ | 327,000 | |||||||||
Net operating loss carryovers | 1,069,000 | 2,636,000 | |||||||||||
Deferred compensation | 1,757,000 | 1,739,000 | |||||||||||
OREO valuation allowance | 1,097,000 | 1,326,000 | |||||||||||
Unrealized loss on available-for-sale investment securities | 817,000 | — | |||||||||||
Other | 1,049,000 | 855,000 | |||||||||||
Total deferred tax assets | 5,818,000 | 6,883,000 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Deferred loan costs | (1,187,000 | ) | (960,000 | ) | |||||||||
Unrealized gain on available-for-sale investment securities | — | (232,000 | ) | ||||||||||
Other | (233,000 | ) | (257,000 | ) | |||||||||
Total deferred tax liabilities | (1,420,000 | ) | (1,449,000 | ) | |||||||||
Net deferred tax assets | $ | 4,398,000 | $ | 5,434,000 | |||||||||
Provision for Income Taxes Differs from Amounts Computed by Applying the Statutory Federal Income Tax Rate to Operating Income before Income Taxes | ' | ||||||||||||
The provision for income taxes differs from amounts computed by applying the statutory Federal income tax rate to operating income before income taxes. The significant items comprising these differences consisted of the following: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Federal income tax, at statutory rate | 34 | % | 34 | % | 34 | % | |||||||
State franchise tax, net of Federal tax effect | 6 | % | 5.7 | % | 4.4 | % | |||||||
Interest on obligations of states and political subdivisions | (0.1 | )% | (0.3 | )% | (2.7 | )% | |||||||
Net increase in cash surrender value of bank owned life insurance | (2.1 | )% | (3.9 | )% | (9.7 | )% | |||||||
Other | 0.9 | % | (0.1 | )% | (2.1 | )% | |||||||
Effective tax rate | 38.7 | % | 35.4 | % | 23.9 | % | |||||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Related Party Transactions [Abstract] | ' | ||||
Summary of Aggregate Activity Involving Related Party Borrowers | ' | ||||
During the normal course of business, the Company enters into transactions with related parties, including executive officers and directors. The following is a summary of the aggregate activity involving related party borrowers during 2013: | |||||
Balance, January 1, 2013 | $ | 473,000 | |||
Disbursements | 1,076,000 | ||||
Amounts repaid | (136,000 | ) | |||
Balance, December 31, 2013 | $ | 1,413,000 | |||
Undisbursed commitments to related parties, December 31, 2013 | $ | 1,970,000 | |||
Parent_Only_Condensed_Financia1
Parent Only Condensed Financial Statements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Balance Sheets | ' | ||||||||||||
CONDENSED BALANCE SHEETS | |||||||||||||
December 31, 2013 and 2012 | |||||||||||||
2013 | 2012 | ||||||||||||
ASSETS | |||||||||||||
Cash and cash equivalents | $ | 598,000 | $ | 477,000 | |||||||||
Investment in bank subsidiary | 49,585,000 | 51,372,000 | |||||||||||
Other assets | 1,048,000 | 1,334,000 | |||||||||||
Total assets | $ | 51,231,000 | $ | 53,183,000 | |||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||
Other liabilities | $ | 33,000 | $ | 1,023,000 | |||||||||
Note Payable | 3,000,000 | — | |||||||||||
Subordinated debentures | 7,295,000 | — | |||||||||||
Junior subordinated deferrable interest debentures | 10,310,000 | 10,310,000 | |||||||||||
Total liabilities | 20,638,000 | 11,333,000 | |||||||||||
Shareholders’ equity: | |||||||||||||
Preferred stock | — | 11,855,000 | |||||||||||
Common stock | 6,249,000 | 6,093,000 | |||||||||||
Retained earnings | 25,507,000 | 23,573,000 | |||||||||||
Accumulated other comprehensive (loss) income | (1,163,000 | ) | 329,000 | ||||||||||
Total shareholders’ equity | 30,593,000 | 41,850,000 | |||||||||||
Total liabilities and shareholders’ equity | $ | 51,231,000 | $ | 53,183,000 | |||||||||
Condensed Statement of Income and Comprehensive Income | ' | ||||||||||||
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME | |||||||||||||
For the Years Ended December 31, 2013, 2012 and 2011 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Income: | |||||||||||||
Dividends declared by bank subsidiary | $ | 4,500,000 | $ | — | $ | — | |||||||
Earnings from investment in Plumas Statutory Trusts I and II | 9,000 | 10,000 | 10,000 | ||||||||||
Total income | 4,509,000 | 10,000 | 10,000 | ||||||||||
Expenses: | |||||||||||||
Interest on note payable | 23,000 | — | — | ||||||||||
Interest on subordinated debentures | 541,000 | — | — | ||||||||||
Interest on junior subordinated deferrable interest debentures | 313,000 | 344,000 | 326,000 | ||||||||||
Other expenses | 309,000 | 242,000 | 199,000 | ||||||||||
Total expenses | 1,186,000 | 586,000 | 525,000 | ||||||||||
Income (loss) before equity in undistributed income of subsidiary | 3,323,000 | (576,000 | ) | (515,000 | ) | ||||||||
Equity in undistributed (loss) income of subsidiary | (330,000 | ) | 2,289,000 | 1,244,000 | |||||||||
Income before income taxes | 2,993,000 | 1,713,000 | 729,000 | ||||||||||
Income tax benefit | 438,000 | 237,000 | 212,000 | ||||||||||
Net income | $ | 3,431,000 | $ | 1,950,000 | $ | 941,000 | |||||||
Total comprehensive income | $ | 1,939,000 | $ | 2,121,000 | $ | 1,151,000 | |||||||
Condensed Statements of Cash Flows | ' | ||||||||||||
CONDENSED STATEMENTS OF CASH FLOWS | |||||||||||||
For the Years Ended December 31, 2013, 2012 and 2011 | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash flows from operating activities: | |||||||||||||
Net income | $ | 3,431,000 | $ | 1,950,000 | $ | 941,000 | |||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||||||
Undistributed loss (income) of subsidiary | 330,000 | (2,289,000 | ) | (1,244,000 | ) | ||||||||
Amortization of discount on debentures | 113,000 | — | — | ||||||||||
Stock-based compensation expense | 4,000 | 5,000 | 2,000 | ||||||||||
Decrease (increase) in other assets | 285,000 | (248,000 | ) | (15,000 | ) | ||||||||
(Decrease) increase in other liabilities | (990,000 | ) | 399,000 | 350,000 | |||||||||
Net cash provided by (used in) operating activities | 3,173,000 | (183,000 | ) | 34,000 | |||||||||
Cash flows from financing activities: | |||||||||||||
Issuance of subordinated debt, net of discount | 7,182,000 | — | — | ||||||||||
Issuance of common stock warrant | 318,000 | — | — | ||||||||||
Issuance of note payable | 3,000,000 | — | — | ||||||||||
Repurchase of common stock warrant | (234,000 | ) | — | — | |||||||||
Redemption of preferred stock | (11,384,000 | ) | — | — | |||||||||
Proceeds from exercise of stock options | 34,000 | — | — | ||||||||||
Payment of cash dividends on preferred stock | (1,968,000 | ) | — | — | |||||||||
Net cash used in financing activities | (3,052,000 | ) | — | — | |||||||||
Increase (decrease) in cash and cash equivalents | 121,000 | (183,000 | ) | 34,000 | |||||||||
Cash and cash equivalents at beginning of year | 477,000 | 660,000 | 626,000 | ||||||||||
Cash and cash equivalents at end of year | $ | 598,000 | $ | 477,000 | $ | 660,000 | |||||||
The_Business_of_Plumas_Bancorp1
The Business of Plumas Bancorp - Additional Information (Detail) | Dec. 31, 2013 |
Branch | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' |
Number of branches | 11 |
Regulatory_Matters_Additional_
Regulatory Matters - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2011 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Expected Tier 1 Leverage Capital Ratio | ' | ' | 9.00% |
Outstanding level of classified asset balance | ' | ' | 50.00% |
Ratio of classified assets to Tier 1 Capital plus the allowance for loan losses | ' | 32.00% | ' |
Informal agreement termination effective date | 24-Jan-13 | ' | ' |
Agreement termination effective date | 19-Apr-13 | ' | ' |
Bank Leverage Ratio [Member] | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Bank's Leverage Ratio | ' | 10.40% | ' |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Securities | Securities | ||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Customers contribution to company's revenues | 'Not more than 10 percent | ' | ' |
Sale period for Federal Funds | '1 day | ' | ' |
Cash held with other federally insured institutions in excess of FDIC | $7,300,000 | ' | ' |
Number of securities held to maturity | 0 | 0 | ' |
FHLB stock totaled | 2,226,000 | 1,950,000 | ' |
Loans held for sale are recorded at the lower of cost or fair value | 2,800,000 | 3,367,000 | ' |
Government guaranteed loans with unpaid balances | 70,212,000 | 58,696,000 | ' |
Loan is moved to non-accrual status | '90 days | ' | ' |
Valuation allowance loans held for sale | 0 | 0 | ' |
Increase in required allowance related to loan modification | 250,000 | ' | ' |
Credit risks and to assess the overall collectability of the portfolio | '100000 | ' | ' |
Allowance for commitments totaled | 141,000 | 141,000 | ' |
Partial settlement of loan obligations | 6,399,000 | 5,295,000 | 8,623,000 |
Loans settled, gross | 9,065,000 | 8,517,000 | ' |
Valuation allowance | 2,666,000 | 3,222,000 | ' |
Proceeds from sales of other real estate owned, total | 2,404,000 | 3,714,000 | 4,937,000 |
Loss/Gain on sale of other real estate owned | 171,000 | -16,000 | -606,000 |
Period over which intangible assets are amortized | '10 years | ' | ' |
Tax benefit plan | 50.00% | ' | ' |
Unrecognized tax benefits or accrued interest and penalties | 0 | 0 | ' |
Accumulated comprehensive income relating to realized gains on securities available for sale | ' | 403,000 | 666,000 |
Accumulated comprehensive income related tax effect | ' | 167,000 | 276,000 |
Sales of available for sale investment securities | 0 | ' | ' |
Compensation expense related to Stock Option Plan, net of related tax (expense)/benefit | 37,000 | 93,000 | -38,000 |
Compensation expense related to Stock Option Plan, diluted share | $0.01 | $0.02 | ($0.01) |
Granted options to purchase shares of common stock | 0 | 0 | 248,000 |
Maximum [Member] | ' | ' | ' |
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Percent of SBA loan guaranteed by the government | 85.00% | ' | ' |
Maximum [Member] | Building [Member] | ' | ' | ' |
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Useful life of property plant and equipment | '30 years | ' | ' |
Maximum [Member] | Furniture Fixtures and Equipment [Member] | ' | ' | ' |
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Useful life of property plant and equipment | '10 years | ' | ' |
Minimum [Member] | ' | ' | ' |
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Percent of SBA loan guaranteed by the government | 75.00% | ' | ' |
Minimum [Member] | Building [Member] | ' | ' | ' |
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Useful life of property plant and equipment | '20 years | ' | ' |
Minimum [Member] | Furniture Fixtures and Equipment [Member] | ' | ' | ' |
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Useful life of property plant and equipment | '2 years | ' | ' |
Plumas Statutory Trust I [Member] | ' | ' | ' |
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Company's investment | 298,000 | ' | ' |
Plumas Statutory Trust II [Member] | ' | ' | ' |
Schedule Of Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Company's investment | $159,000 | ' | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Summary of the Change in Other Real Estate (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Other Real Estate [Roll Forward] | ' | ' |
Beginning balance | $5,295,000 | $8,623,000 |
Additions | 3,824,000 | 1,309,000 |
Dispositions | -2,234,000 | -3,730,000 |
Write-downs | -486,000 | -907,000 |
Ending balance | $6,399,000 | $5,295,000 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies - Fair Value of Each Option Estimated on the Date of Grant (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2011 | |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Abstract] | ' |
Expected life of stock options | '5 years 3 months 18 days |
Risk free interest rate | 2.26% |
Volatility | 46.10% |
Dividend yields | 3.05% |
Weighted-average fair value of options granted during the year | $0.99 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements - Fair Value of Financial Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Fair Value Of Financial Instruments [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $49,917,000 | $44,675,000 | $63,076,000 | $64,628,000 |
Investment securities | 90,343,000 | 80,964,000 | ' | ' |
Loans, net | 334,374,000 | 310,271,000 | ' | ' |
FHLB stock | 2,226,000 | 1,950,000 | ' | ' |
Accrued interest receivable | 1,691,000 | 1,677,000 | ' | ' |
Deposits | 449,439,000 | 411,562,000 | ' | ' |
Repurchase agreements | 9,109,000 | 7,377,000 | ' | ' |
Note Payable | 3,000,000 | ' | ' | ' |
Subordinated debenture | 7,295,000 | ' | ' | ' |
Junior subordinated deferrable interest debentures | 10,310,000 | 10,310,000 | ' | ' |
Accrued interest payable | 98,000 | 1,115,000 | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' | ' |
Fair Value Of Financial Instruments [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 49,917,000 | 44,675,000 | ' | ' |
Investment securities | ' | ' | ' | ' |
Loans, net | ' | ' | ' | ' |
FHLB stock | ' | ' | ' | ' |
Accrued interest receivable | ' | ' | ' | ' |
Deposits | 386,757,000 | 340,986,000 | ' | ' |
Repurchase Agreements | ' | ' | ' | ' |
Note Payable | ' | ' | ' | ' |
Subordinated debenture | ' | ' | ' | ' |
Junior subordinated deferrable interest debentures | ' | ' | ' | ' |
Accrued interest payable | 6,000 | 6,000 | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' | ' |
Fair Value Of Financial Instruments [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Investment securities | 90,343,000 | 80,964,000 | ' | ' |
Loans, net | ' | ' | ' | ' |
FHLB stock | ' | ' | ' | ' |
Accrued interest receivable | 260,000 | 248,000 | ' | ' |
Deposits | 62,743,000 | 70,696,000 | ' | ' |
Repurchase Agreements | 9,109,000 | 7,377,000 | ' | ' |
Note Payable | ' | ' | ' | ' |
Subordinated debenture | ' | ' | ' | ' |
Junior subordinated deferrable interest debentures | ' | ' | ' | ' |
Accrued interest payable | 58,000 | 90,000 | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' | ' |
Fair Value Of Financial Instruments [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Investment securities | ' | ' | ' | ' |
Loans, net | 337,392,000 | 313,929,000 | ' | ' |
FHLB stock | ' | ' | ' | ' |
Accrued interest receivable | 1,431,000 | 1,429,000 | ' | ' |
Deposits | ' | ' | ' | ' |
Repurchase Agreements | ' | ' | ' | ' |
Note Payable | 3,000,000 | ' | ' | ' |
Subordinated debenture | 7,121,000 | ' | ' | ' |
Junior subordinated deferrable interest debentures | 7,193,000 | 3,191,000 | ' | ' |
Accrued interest payable | 34,000 | 1,019,000 | ' | ' |
Total Fair Value [Member] | ' | ' | ' | ' |
Fair Value Of Financial Instruments [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 49,917,000 | 44,675,000 | ' | ' |
Investment securities | 90,343,000 | 80,964,000 | ' | ' |
Loans, net | 337,392,000 | 313,929,000 | ' | ' |
Accrued interest receivable | 1,691,000 | 1,677,000 | ' | ' |
Deposits | 449,500,000 | 411,682,000 | ' | ' |
Repurchase Agreements | 9,109,000 | 7,377,000 | ' | ' |
Note Payable | 3,000,000 | ' | ' | ' |
Subordinated debenture | 7,121,000 | ' | ' | ' |
Junior subordinated deferrable interest debentures | 7,193,000 | 3,191,000 | ' | ' |
Accrued interest payable | $98,000 | $1,115,000 | ' | ' |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Fair Value | $90,343,000 | $80,964,000 |
U.S. Government - Sponsored Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Fair Value | 27,097,000 | 38,442,000 |
U.S. Government-Sponsored Agencies Collateralized by Mortgage Obligations - Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Fair Value | 61,875,000 | 42,522,000 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Fair Value | 1,371,000 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Fair Value | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Fair Value | 90,343,000 | 80,964,000 |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government - Sponsored Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Fair Value | 27,097,000 | 38,442,000 |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government-Sponsored Agencies Collateralized by Mortgage Obligations - Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Fair Value | 61,875,000 | 42,522,000 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Fair Value | 1,371,000 | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Fair Value | ' | ' |
Fair_Value_Measurements_Assets1
Fair Value Measurements - Assets and Liabilities Measured at a Fair Value on a Non Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, Gains (Losses) | ($486,000) | ($907,000) |
Impaired loans, Gains (Losses) | -24,000 | -2,044,000 |
Total Fair Value | 90,343,000 | 80,964,000 |
Total Gains (Losses) | -511,000 | -2,951,000 |
Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | 6,399,000 | 5,295,000 |
Impaired loans, fair value | 2,532,000 | 11,500,000 |
Total Fair Value | 8,931,000 | 16,795,000 |
Other Real Estate - Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, Gains (Losses) | -101,000 | -85,000 |
Other Real Estate - Residential [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | 873,000 | 818,000 |
Other Real Estate - Commercial [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, Gains (Losses) | -9,000 | -287,000 |
Other Real Estate - Commercial [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | 983,000 | 1,953,000 |
Other Land and Construction [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, Gains (Losses) | -376,000 | -535,000 |
Other Land and Construction [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | 4,289,000 | 2,407,000 |
Other Equity Lines of Credit [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | 254,000 | 117,000 |
Commercial [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, Gains (Losses) | -16,000 | -346,000 |
Commercial [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | 767,000 | 2,933,000 |
Agricultural [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, Gains (Losses) | ' | -1,000 |
Agricultural [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | 379,000 |
Real Estate - Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, Gains (Losses) | -38,000 | -308,000 |
Real Estate - Residential [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | 28,000 | 1,140,000 |
Real Estate - Commercial [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, Gains (Losses) | -28,000 | -283,000 |
Real Estate - Commercial [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | 1,377,000 | 3,303,000 |
Real Estate - Construction and Land Development [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, Gains (Losses) | -28,000 | -712,000 |
Real Estate - Construction and Land Development [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | 3,055,000 |
Equity Lines of Credit [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, Gains (Losses) | 86,000 | -392,000 |
Equity Lines of Credit [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | 360,000 | 690,000 |
Other [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, Gains (Losses) | ' | -2,000 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Fair Value | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | ' | ' |
Impaired loans, fair value | ' | ' |
Total Fair Value | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Real Estate - Residential [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Real Estate - Commercial [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Land and Construction [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Equity Lines of Credit [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Commercial [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Agricultural [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Real Estate - Residential [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Real Estate - Commercial [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Real Estate - Construction and Land Development [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Lines of Credit [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Auto [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Fair Value | 90,343,000 | 80,964,000 |
Significant Other Observable Inputs (Level 2) [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | ' | ' |
Impaired loans, fair value | ' | ' |
Total Fair Value | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Other Real Estate - Residential [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Other Real Estate - Commercial [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Other Land and Construction [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Other Equity Lines of Credit [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Commercial [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Agricultural [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Real Estate - Residential [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Real Estate - Commercial [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Real Estate - Construction and Land Development [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Equity Lines of Credit [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Auto [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Other [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | 6,399,000 | 5,295,000 |
Impaired loans, fair value | 2,532,000 | 11,500,000 |
Total Fair Value | 8,931,000 | 16,795,000 |
Significant Unobservable Inputs (Level 3) [Member] | Other Real Estate - Residential [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | 873,000 | 818,000 |
Significant Unobservable Inputs (Level 3) [Member] | Other Real Estate - Commercial [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | 983,000 | 1,953,000 |
Significant Unobservable Inputs (Level 3) [Member] | Other Land and Construction [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | 4,289,000 | 2,407,000 |
Significant Unobservable Inputs (Level 3) [Member] | Other Equity Lines of Credit [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate, fair value disclosure | 254,000 | 117,000 |
Significant Unobservable Inputs (Level 3) [Member] | Commercial [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | 767,000 | 2,933,000 |
Significant Unobservable Inputs (Level 3) [Member] | Agricultural [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | 379,000 |
Significant Unobservable Inputs (Level 3) [Member] | Real Estate - Residential [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | 28,000 | 1,140,000 |
Significant Unobservable Inputs (Level 3) [Member] | Real Estate - Commercial [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | 1,377,000 | 3,303,000 |
Significant Unobservable Inputs (Level 3) [Member] | Real Estate - Construction and Land Development [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | ' | 3,055,000 |
Significant Unobservable Inputs (Level 3) [Member] | Equity Lines of Credit [Member] | Non-Recurring Basis [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value | $360,000 | $690,000 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value Disclosures [Abstract] | ' | ' |
Total gains/losses of impairment charges | $24,000 | $2,044,000 |
Fair_Value_Measurements_Quanti
Fair Value Measurements - Quantitative Information for Financial Instruments Measured at Fair Value on a Non-Recurring Basis (Detail) (Non-Recurring Basis [Member], USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Impaired loans, fair value | 2,532,000 | 11,500,000 |
Other real estate, fair value disclosure | 6,399,000 | 5,295,000 |
Commercial [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Impaired loans, fair value | 767,000 | 2,933,000 |
Valuation Technique | 'Sales Comparison | ' |
Agricultural [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Impaired loans, fair value | ' | 379,000 |
Agricultural [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Impaired loans, fair value | ' | 379,000 |
Valuation Technique | 'Sales Comparison | ' |
Real Estate - Residential [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Impaired loans, fair value | 28,000 | 1,140,000 |
Valuation Technique | 'Sales Comparison | ' |
Real Estate - Commercial [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Impaired loans, fair value | 1,377,000 | 3,303,000 |
Valuation Technique | 'Sales Comparison | ' |
Land and Construction [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Impaired loans, fair value | ' | 3,055,000 |
Valuation Technique | 'Sales Comparison | ' |
Equity Lines of Credit [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Impaired loans, fair value | 360,000 | 690,000 |
Equity Lines of Credit [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Impaired loans, fair value | 360,000 | 690,000 |
Valuation Technique | 'Sales Comparison | ' |
Other Real Estate - Residential [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Other real estate, fair value disclosure | 873,000 | 818,000 |
Other Real Estate - Residential [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Other real estate, fair value disclosure | 873,000 | 818,000 |
Valuation Technique | 'Sales Comparison | ' |
Other Land and Construction [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Other real estate, fair value disclosure | 4,289,000 | 2,407,000 |
Other Land and Construction [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Other real estate, fair value disclosure | 4,289,000 | 2,407,000 |
Valuation Technique | 'Sales Comparison | ' |
Other Real Estate - Commercial [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Other real estate, fair value disclosure | 983,000 | 1,953,000 |
Other Real Estate - Commercial [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Other real estate, fair value disclosure | 983,000 | 1,953,000 |
Valuation Technique | 'Sales Comparison | ' |
Other Equity Lines of Credit [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Other real estate, fair value disclosure | 254,000 | 117,000 |
Other Equity Lines of Credit [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Other real estate, fair value disclosure | 254,000 | 117,000 |
Valuation Technique | 'Sales Comparison | ' |
Minimum [Member] | Commercial [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 0.00% | 0.00% |
Minimum [Member] | Agricultural [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | ' | 1.00% |
Minimum [Member] | Real Estate - Residential [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 8.00% | 8.00% |
Minimum [Member] | Real Estate - Commercial [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 10.00% | 8.00% |
Minimum [Member] | Land and Construction [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | ' | 8.00% |
Maximum [Member] | Commercial [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 0.00% | 28.00% |
Maximum [Member] | Agricultural [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | ' | 11.00% |
Maximum [Member] | Real Estate - Residential [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 8.00% | 10.00% |
Maximum [Member] | Real Estate - Commercial [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 12.00% | 11.00% |
Maximum [Member] | Land and Construction [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | ' | 12.00% |
Maximum [Member] | Equity Lines of Credit [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 8.00% | 8.00% |
Maximum [Member] | Other Real Estate - Residential [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 10.00% | 10.00% |
Maximum [Member] | Other Land and Construction [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 10.00% | 10.00% |
Maximum [Member] | Other Real Estate - Commercial [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 10.00% | 10.00% |
Maximum [Member] | Other Equity Lines of Credit [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 10.00% | 10.00% |
Weighted Average [Member] | Commercial [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 0.00% | 10.00% |
Weighted Average [Member] | Agricultural [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | ' | 7.00% |
Weighted Average [Member] | Real Estate - Residential [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 8.00% | 8.00% |
Weighted Average [Member] | Real Estate - Commercial [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 11.00% | 9.00% |
Weighted Average [Member] | Land and Construction [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | ' | 11.00% |
Weighted Average [Member] | Equity Lines of Credit [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 8.00% | 8.00% |
Weighted Average [Member] | Other Real Estate - Residential [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 10.00% | 10.00% |
Weighted Average [Member] | Other Land and Construction [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 10.00% | 10.00% |
Weighted Average [Member] | Other Real Estate - Commercial [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 10.00% | 10.00% |
Weighted Average [Member] | Other Equity Lines of Credit [Member] | Sales Comparison [Member] | ' | ' |
Financial Instruments And Fair Value Measurements [Line Items] | ' | ' |
Range (Weighted average) | 10.00% | 10.00% |
Investment_Securities_Amortize
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Debt securities: | ' | ' |
Amortized Cost | $92,323,000 | $80,403,000 |
Gross Unrealized Gains | 66,000 | 588,000 |
Gross Unrealized Losses | -2,046,000 | -27,000 |
Estimated Fair Value | 90,343,000 | 80,964,000 |
U.S. Government-Sponsored Agencies [Member] | ' | ' |
Debt securities: | ' | ' |
Amortized Cost | 27,132,000 | 38,291,000 |
Gross Unrealized Gains | 40,000 | 154,000 |
Gross Unrealized Losses | -75,000 | -3,000 |
Estimated Fair Value | 27,097,000 | 38,442,000 |
U.S. Government-Sponsored Agencies Collateralized by Mortgage Obligations - Residential [Member] | ' | ' |
Debt securities: | ' | ' |
Amortized Cost | 63,807,000 | 42,112,000 |
Gross Unrealized Gains | 22,000 | 434,000 |
Gross Unrealized Losses | -1,954,000 | -24,000 |
Estimated Fair Value | 61,875,000 | 42,522,000 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Debt securities: | ' | ' |
Amortized Cost | 1,384,000 | ' |
Gross Unrealized Gains | 4,000 | ' |
Gross Unrealized Losses | -17,000 | ' |
Estimated Fair Value | $1,371,000 | ' |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Securities | Security | Security | |
Security | Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Unrealized gains on available-for-sale investment securities | $1,980,000 | $561,000 | $268,000 |
Tax expense from unrealized gains on available-for-sale investment securities | 817,000 | 232,000 | 110,000 |
Number of securities sold | ' | 25 | 27 |
Proceeds from sale of available-for-sale investment securities | ' | 20,773,000 | 29,404,000 |
Gain on sale of securities available-for-sale | ' | 403,000 | 690,000 |
Number Of Securities Sold | ' | ' | 25 |
Number of securities sold for loss | ' | ' | 2 |
Loss on sale securities available-for-sale | ' | ' | 24,000 |
Recognition of a net gain on sale | ' | 403,000 | 666,000 |
Transfers of available-for-sale investment securities | 0 | 0 | 0 |
Number of securities held to maturity | 0 | 0 | ' |
Number of securities in loss position for more than one year | ' | 0 | ' |
Number of securities held | 77 | ' | ' |
Number of securities in loss position | 56 | ' | ' |
Investment securities with amortized costs | 54,373,000 | 44,305,000 | ' |
Investment securities pledged to secure deposits and repurchase agreements | $53,493,000 | $44,535,000 | ' |
U.S. Government-Sponsored Agencies [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Number of securities in loss position | 6 | ' | ' |
US Government-sponsored Enterprises Debt Securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Number of securities in loss position | 46 | ' | ' |
Obligations of States and Political Subdivisions [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Number of securities in loss position | 4 | ' | ' |
Investment_Securities_Investme
Investment Securities - Investment Securities with Unrealized Losses (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, less than 12 months | $60,461,000 | $9,006,000 |
Unrealized Losses, less than 12 months | 1,792,000 | 27,000 |
Fair Value, 12 months or more | 4,317,000 | ' |
Unrealized Losses, 12 months or more | 254,000 | ' |
Fair Value | 64,778,000 | ' |
Unrealized Losses | 2,046,000 | 27,000 |
U.S. Government-Sponsored Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, less than 12 months | 5,930,000 | 2,004,000 |
Unrealized Losses, less than 12 months | 75,000 | 3,000 |
Fair Value | 5,930,000 | ' |
Unrealized Losses | 75,000 | 3,000 |
U.S. Government-Sponsored Agencies Collateralized by Mortgage Obligations - Residential [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, less than 12 months | 53,603,000 | 7,002,000 |
Unrealized Losses, less than 12 months | 1,700,000 | 24,000 |
Fair Value, 12 months or more | 4,317,000 | ' |
Unrealized Losses, 12 months or more | 254,000 | ' |
Fair Value | 57,920,000 | ' |
Unrealized Losses | 1,954,000 | 24,000 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, less than 12 months | 928,000 | ' |
Unrealized Losses, less than 12 months | 17,000 | ' |
Fair Value, 12 months or more | ' | ' |
Unrealized Losses, 12 months or more | ' | ' |
Fair Value | 928,000 | ' |
Unrealized Losses | $17,000 | ' |
Investment_Securities_Investme1
Investment Securities - Investment Securities by Contractual Maturity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Investment securities by contractual maturity | ' | ' |
Estimated Amortized Cost | $92,323,000 | $80,403,000 |
Estimated Fair Value | 90,343,000 | 80,964,000 |
Within One Year [Member] | ' | ' |
Investment securities by contractual maturity | ' | ' |
Estimated Amortized Cost | 1,000,000 | ' |
Estimated Fair Value | 1,003,000 | ' |
After One Year Through Five Years [Member] | ' | ' |
Investment securities by contractual maturity | ' | ' |
Estimated Amortized Cost | 26,132,000 | ' |
Estimated Fair Value | 26,094,000 | ' |
After Five Years Through Ten Years [Member] | ' | ' |
Investment securities by contractual maturity | ' | ' |
Estimated Amortized Cost | 1,384,000 | ' |
Estimated Fair Value | 1,371,000 | ' |
Government-Sponsored Mortgage-Backed Securities [Member] | ' | ' |
Investment securities by contractual maturity | ' | ' |
Estimated Amortized Cost | 63,807,000 | ' |
Estimated Fair Value | $61,875,000 | ' |
Loans_and_the_Allowance_for_Lo2
Loans and the Allowance for Loan Losses - Summary of Outstanding Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Summary of outstanding loans | ' | ' | ' | ' |
Loans and leases receivable, gross, total | $338,551,000 | $315,057,000 | ' | ' |
Deferred loan costs, net | 1,340,000 | 900,000 | ' | ' |
Allowance for loan losses | -5,517,000 | -5,686,000 | -6,908,000 | -7,324,000 |
Total outstanding loans | 334,374,000 | 310,271,000 | ' | ' |
Commercial [Member] | ' | ' | ' | ' |
Summary of outstanding loans | ' | ' | ' | ' |
Loans and leases receivable, gross, total | 32,612,000 | 29,552,000 | ' | ' |
Loans and leases receivable, gross, total | 32,612,000 | 29,552,000 | ' | ' |
Allowance for loan losses | -785,000 | -855,000 | -1,025,000 | -760,000 |
Agricultural [Member] | ' | ' | ' | ' |
Summary of outstanding loans | ' | ' | ' | ' |
Loans and leases receivable, gross, total | 30,647,000 | 35,124,000 | ' | ' |
Loans and leases receivable, gross, total | 30,647,000 | 35,124,000 | ' | ' |
Allowance for loan losses | -164,000 | -159,000 | -330,000 | -184,000 |
Real Estate - Residential [Member] | ' | ' | ' | ' |
Summary of outstanding loans | ' | ' | ' | ' |
Loans and leases receivable, gross, total | 31,322,000 | 34,666,000 | ' | ' |
Loans and leases receivable, gross, total | 31,322,000 | 34,666,000 | ' | ' |
Allowance for loan losses | -638,000 | -894,000 | -698,000 | -632,000 |
Real Estate - Commercial [Member] | ' | ' | ' | ' |
Summary of outstanding loans | ' | ' | ' | ' |
Loans and leases receivable, gross, total | 155,942,000 | 139,546,000 | ' | ' |
Loans and leases receivable, gross, total | 155,942,000 | 139,546,000 | ' | ' |
Allowance for loan losses | -1,774,000 | -1,656,000 | -1,925,000 | -1,819,000 |
Real Estate - Construction and Land Development [Member] | ' | ' | ' | ' |
Summary of outstanding loans | ' | ' | ' | ' |
Loans and leases receivable, gross, total | 17,793,000 | 15,801,000 | ' | ' |
Equity Lines of Credit [Member] | ' | ' | ' | ' |
Summary of outstanding loans | ' | ' | ' | ' |
Loans and leases receivable, gross, total | 35,800,000 | 36,873,000 | ' | ' |
Loans and leases receivable, gross, total | 35,800,000 | 36,873,000 | ' | ' |
Allowance for loan losses | -613,000 | -736,000 | -635,000 | -652,000 |
Auto [Member] | ' | ' | ' | ' |
Summary of outstanding loans | ' | ' | ' | ' |
Loans and leases receivable, gross, total | 30,305,000 | 19,283,000 | ' | ' |
Loans and leases receivable, gross, total | 30,305,000 | 19,283,000 | ' | ' |
Allowance for loan losses | -449,000 | -289,000 | -95,000 | -112,000 |
Other [Member] | ' | ' | ' | ' |
Summary of outstanding loans | ' | ' | ' | ' |
Loans and leases receivable, gross, total | 4,130,000 | 4,212,000 | ' | ' |
Loans and leases receivable, gross, total | 4,130,000 | 4,212,000 | ' | ' |
Allowance for loan losses | ($150,000) | ($147,000) | ($194,000) | ($154,000) |
Loans_and_the_Allowance_for_Lo3
Loans and the Allowance for Loan Losses - Changes in the Allowance for Loan Losses (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Changes in the allowance for loan losses | ' | ' | ' |
Beginning balance | $5,686,000 | $6,908,000 | $7,324,000 |
Provision charged to operations | 1,400,000 | 2,350,000 | 3,500,000 |
Charge-offs | -1,915,000 | -3,901,000 | -4,247,000 |
Recoveries | 346,000 | 329,000 | 331,000 |
Ending balance | $5,517,000 | $5,686,000 | $6,908,000 |
Loans_and_the_Allowance_for_Lo4
Loans and the Allowance for Loan Losses - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Recorded investment in impaired loans total | $9,815,000 | $18,850,000 | $24,402,000 |
Specific allowances for loan losses | 629,000 | 1,186,000 | 2,066,000 |
Impaired loans with reserves | 2,322,000 | 14,334,000 | ' |
Impaired loans in which no specific reserves were required | 7,493,000 | 4,516,000 | ' |
Average recorded investment in impaired loans | 10,182,000 | 19,816,000 | 25,536,000 |
Interest income recognized | 298,000 | 597,000 | 666,000 |
Troubled debt restructurings | 7,616,000 | 12,296,000 | ' |
Troubled debt restructurings specific reserves | 284,000 | 348,000 | ' |
Committed to lend additional amounts on loans classified as troubled debt restructurings | 0 | 0 | ' |
Troubled debt restructuring, charge-offs | '0 | '0 | ' |
Troubled debt restructuring, allowance for loan losses | ' | 118,000 | ' |
Subsequently increased the allowance for loan losses | 158,000 | 757,000 | ' |
Increased the allowance for loan losses charge offs | 0 | 1,426,000 | ' |
Loans total recorded investment | 14,000,000 | 9,000,000 | ' |
Nonaccrual loans totaled | 5,519,000 | 13,683,000 | ' |
Interest foregone on nonaccrual loans | 280,000 | 646,000 | 510,000 |
90 Days and Still Accruing | 17,000 | 15,000 | ' |
Deferred loan origination costs | $1,337,000 | $953,000 | $706,000 |
Minimum [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Reduction of the stated interest rate of the loan | '1 month | '1 month | ' |
Extension of the maturity date | '1 month | ' | ' |
Delay in payment of loan | '30 days | ' | ' |
Maximum [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Reduction of the stated interest rate of the loan | '10 years | '10 years | ' |
Extension of the maturity date | '10 years | ' | ' |
Delay in payment of loan | '3 months | ' | ' |
Loans_and_the_Allowance_for_Lo5
Loans and the Allowance for Loan Losses - Loans by Class Modified as Troubled Debt Restructurings (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 2 | 11 |
Pre-Modification Outstanding Recorded Investment | $17,000 | $3,640,000 |
Post-Modification Recorded Investment | 16,000 | 3,615,000 |
Commercial [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | 1 |
Pre-Modification Outstanding Recorded Investment | ' | 24,000 |
Post-Modification Recorded Investment | ' | 24,000 |
Real Estate - Residential [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | 2 |
Pre-Modification Outstanding Recorded Investment | ' | 819,000 |
Post-Modification Recorded Investment | ' | 800,000 |
Real Estate - Construction and Land Development [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | 3 |
Pre-Modification Outstanding Recorded Investment | ' | 289,000 |
Post-Modification Recorded Investment | ' | 289,000 |
Real Estate - Commercial [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | 3 |
Pre-Modification Outstanding Recorded Investment | ' | 2,497,000 |
Post-Modification Recorded Investment | ' | 2,491,000 |
Auto [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | 8,000 | 11,000 |
Post-Modification Recorded Investment | 7,000 | 11,000 |
Other [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | ' |
Pre-Modification Outstanding Recorded Investment | 9,000 | ' |
Post-Modification Recorded Investment | $9,000 | ' |
Loans_and_the_Allowance_for_Lo6
Loans and the Allowance for Loan Losses - Loans by Class Modified as Troubled Debt Restructurings with a Payment Default (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | 1 |
Recorded Investment | $837,000 | $2,978,000 |
Real Estate - Construction and Land Development [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | 1 |
Recorded Investment | $837,000 | $2,978,000 |
Loans_and_the_Allowance_for_Lo7
Loans and the Allowance for Loan Losses - Loan Portfolio Allocated by Management's Internal Risk Ratings (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | $338,551,000 | $315,057,000 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 32,612,000 | 29,552,000 |
Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 30,647,000 | 35,124,000 |
Real Estate - Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 31,322,000 | 34,666,000 |
Real Estate - Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 155,942,000 | 139,546,000 |
Real Estate - Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 17,793,000 | 15,801,000 |
Equity Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 35,800,000 | 36,873,000 |
Auto [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 30,305,000 | 19,283,000 |
Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 4,130,000 | 4,212,000 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 290,777,000 | 266,224,000 |
Pass [Member] | Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 30,477,000 | 27,260,000 |
Pass [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 30,213,000 | 33,801,000 |
Pass [Member] | Real Estate - Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 30,007,000 | 31,239,000 |
Pass [Member] | Real Estate - Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 147,605,000 | 128,919,000 |
Pass [Member] | Real Estate - Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 17,733,000 | 10,863,000 |
Pass [Member] | Equity Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 34,742,000 | 34,142,000 |
Watch [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 5,752,000 | 6,713,000 |
Watch [Member] | Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 1,420,000 | 1,145,000 |
Watch [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 345,000 | 466,000 |
Watch [Member] | Real Estate - Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 346,000 | 751,000 |
Watch [Member] | Real Estate - Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 3,484,000 | 3,237,000 |
Watch [Member] | Real Estate - Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | ' | 149,000 |
Watch [Member] | Equity Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 157,000 | 965,000 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 7,526,000 | 18,616,000 |
Substandard [Member] | Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 665,000 | 1,138,000 |
Substandard [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 89,000 | 857,000 |
Substandard [Member] | Real Estate - Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 969,000 | 2,676,000 |
Substandard [Member] | Real Estate - Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 4,853,000 | 7,390,000 |
Substandard [Member] | Real Estate - Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 60,000 | 4,789,000 |
Substandard [Member] | Equity Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 890,000 | 1,766,000 |
Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 61,000 | 9,000 |
Doubtful [Member] | Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 50,000 | 9,000 |
Doubtful [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | ' | ' |
Doubtful [Member] | Real Estate - Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | ' | ' |
Doubtful [Member] | Real Estate - Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | ' | ' |
Doubtful [Member] | Real Estate - Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | ' | ' |
Doubtful [Member] | Equity Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 11,000 | ' |
Commercial Credit Exposure [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 304,116,000 | 291,562,000 |
Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 34,341,000 | 23,432,000 |
Performing Financing Receivable [Member] | Auto [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 30,228,000 | 19,239,000 |
Performing Financing Receivable [Member] | Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 4,113,000 | 4,193,000 |
Nonperforming Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 94,000 | 63,000 |
Nonperforming Financing Receivable [Member] | Auto [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 77,000 | 44,000 |
Nonperforming Financing Receivable [Member] | Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | 17,000 | 19,000 |
Consumer Credit Exposure [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable gross carrying amount | $34,435,000 | $23,495,000 |
Loans_and_the_Allowance_for_Lo8
Loans and the Allowance for Loan Losses - Allocation of the Allowance for Loan Losses by Impairment Methodology (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Beginning balance | $5,686,000 | $6,908,000 | $7,324,000 |
Charge-offs | -1,915,000 | -3,901,000 | -4,247,000 |
Recoveries | 346,000 | 329,000 | 331,000 |
Provision | 1,400,000 | 2,350,000 | 3,500,000 |
Ending balance | 5,517,000 | 5,686,000 | 6,908,000 |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | 629,000 | 1,186,000 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 4,888,000 | 4,500,000 | ' |
Loans Ending balance | 338,551,000 | 315,057,000 | ' |
Loans Ending balance: individually evaluated for impairment | 9,815,000 | 18,850,000 | ' |
Loans Ending balance: collectively evaluated for impairment | 328,736,000 | 296,207,000 | ' |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Beginning balance | 855,000 | 1,025,000 | 760,000 |
Charge-offs | -401,000 | -909,000 | -446,000 |
Recoveries | 140,000 | 66,000 | 93,000 |
Provision | 191,000 | 673,000 | 618,000 |
Ending balance | 785,000 | 855,000 | 1,025,000 |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | 79,000 | 192,000 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 706,000 | 663,000 | ' |
Loans Ending balance | 32,612,000 | 29,552,000 | ' |
Loans Ending balance: individually evaluated for impairment | 1,324,000 | 3,478,000 | ' |
Loans Ending balance: collectively evaluated for impairment | 31,288,000 | 26,074,000 | ' |
Agricultural [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Beginning balance | 159,000 | 330,000 | 184,000 |
Charge-offs | ' | -250,000 | -93,000 |
Recoveries | ' | ' | 106,000 |
Provision | 5,000 | 79,000 | 133,000 |
Ending balance | 164,000 | 159,000 | 330,000 |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | ' | 1,000 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 164,000 | 158,000 | ' |
Loans Ending balance | 30,647,000 | 35,124,000 | ' |
Loans Ending balance: individually evaluated for impairment | 267,000 | 647,000 | ' |
Loans Ending balance: collectively evaluated for impairment | 30,380,000 | 34,477,000 | ' |
Real Estate - Residential [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Beginning balance | 894,000 | 698,000 | 632,000 |
Charge-offs | -257,000 | -358,000 | -147,000 |
Recoveries | 94,000 | 1,000 | 1,000 |
Provision | -93,000 | 553,000 | 212,000 |
Ending balance | 638,000 | 894,000 | 698,000 |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | 200,000 | 459,000 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 438,000 | 435,000 | ' |
Loans Ending balance | 31,322,000 | 34,666,000 | ' |
Loans Ending balance: individually evaluated for impairment | 2,475,000 | 3,598,000 | ' |
Loans Ending balance: collectively evaluated for impairment | 28,847,000 | 31,068,000 | ' |
Real Estate - Commercial [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Beginning balance | 1,656,000 | 1,925,000 | 1,819,000 |
Charge-offs | -162,000 | -258,000 | -336,000 |
Recoveries | 15,000 | 7,000 | 17,000 |
Provision | 265,000 | -18,000 | 425,000 |
Ending balance | 1,774,000 | 1,656,000 | 1,925,000 |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | 232,000 | 284,000 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 1,542,000 | 1,372,000 | ' |
Loans Ending balance | 155,942,000 | 139,546,000 | ' |
Loans Ending balance: individually evaluated for impairment | 3,074,000 | 4,528,000 | ' |
Loans Ending balance: collectively evaluated for impairment | 152,868,000 | 135,018,000 | ' |
Real Estate - Construction [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Beginning balance | 950,000 | 2,006,000 | 3,011,000 |
Charge-offs | -735,000 | -1,524,000 | -2,603,000 |
Recoveries | ' | 81,000 | 5,000 |
Provision | 729,000 | 387,000 | 1,593,000 |
Ending balance | 944,000 | 950,000 | 2,006,000 |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | 13,000 | 68,000 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 931,000 | 882,000 | ' |
Loans Ending balance | 17,793,000 | 15,801,000 | ' |
Loans Ending balance: individually evaluated for impairment | 1,737,000 | 5,191,000 | ' |
Loans Ending balance: collectively evaluated for impairment | 16,056,000 | 10,610,000 | ' |
Equity Lines of Credit [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Beginning balance | 736,000 | 635,000 | 652,000 |
Charge-offs | -92,000 | -377,000 | -311,000 |
Recoveries | 1,000 | 46,000 | 2,000 |
Provision | -32,000 | 432,000 | 292,000 |
Ending balance | 613,000 | 736,000 | 635,000 |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | 105,000 | 180,000 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 508,000 | 556,000 | ' |
Loans Ending balance | 35,800,000 | 36,873,000 | ' |
Loans Ending balance: individually evaluated for impairment | 861,000 | 1,360,000 | ' |
Loans Ending balance: collectively evaluated for impairment | 34,939,000 | 35,513,000 | ' |
Auto [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Beginning balance | 289,000 | 95,000 | 112,000 |
Charge-offs | -134,000 | -72,000 | -64,000 |
Recoveries | 55,000 | 51,000 | 82,000 |
Provision | 239,000 | 215,000 | -35,000 |
Ending balance | 449,000 | 289,000 | 95,000 |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | ' | ' | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 449,000 | 289,000 | ' |
Loans Ending balance | 30,305,000 | 19,283,000 | ' |
Loans Ending balance: individually evaluated for impairment | 77,000 | 44,000 | ' |
Loans Ending balance: collectively evaluated for impairment | 30,228,000 | 19,239,000 | ' |
Other [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Beginning balance | 147,000 | 194,000 | 154,000 |
Charge-offs | -134,000 | -153,000 | -247,000 |
Recoveries | 41,000 | 77,000 | 25,000 |
Provision | 96,000 | 29,000 | 262,000 |
Ending balance | 150,000 | 147,000 | 194,000 |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | ' | 2,000 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 150,000 | 145,000 | ' |
Loans Ending balance | 4,130,000 | 4,212,000 | ' |
Loans Ending balance: individually evaluated for impairment | ' | 4,000 | ' |
Loans Ending balance: collectively evaluated for impairment | $4,130,000 | $4,208,000 | ' |
Loans_and_the_Allowance_for_Lo9
Loans and the Allowance for Loan Losses - Aging Analysis of the Loan Portfolio by Time Past Due (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | $1,532,000 | $2,778,000 |
90 Days and Still Accruing | 17,000 | 15,000 |
Nonaccrual | 5,519,000 | 13,683,000 |
Total Past Due | 7,068,000 | 16,476,000 |
Current | 331,483,000 | 298,581,000 |
Loans Ending balance | 338,551,000 | 315,057,000 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 129,000 | 329,000 |
90 Days and Still Accruing | ' | ' |
Nonaccrual | 1,295,000 | 3,303,000 |
Total Past Due | 1,424,000 | 3,632,000 |
Current | 31,188,000 | 25,920,000 |
Loans Ending balance | 32,612,000 | 29,552,000 |
Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | ' | ' |
90 Days and Still Accruing | ' | ' |
Nonaccrual | ' | 380,000 |
Total Past Due | ' | 380,000 |
Current | 30,647,000 | 34,744,000 |
Loans Ending balance | 30,647,000 | 35,124,000 |
Real Estate - Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 25,000 | 156,000 |
90 Days and Still Accruing | ' | ' |
Nonaccrual | 18,000 | 3,314,000 |
Total Past Due | 43,000 | 3,470,000 |
Current | 17,750,000 | 12,331,000 |
Loans Ending balance | 17,793,000 | 15,801,000 |
Real Estate - Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 304,000 | 1,271,000 |
90 Days and Still Accruing | ' | ' |
Nonaccrual | 2,369,000 | 3,378,000 |
Total Past Due | 2,673,000 | 4,649,000 |
Current | 153,269,000 | 134,897,000 |
Loans Ending balance | 155,942,000 | 139,546,000 |
Real Estate - Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 695,000 | 242,000 |
90 Days and Still Accruing | ' | ' |
Nonaccrual | 899,000 | 1,911,000 |
Total Past Due | 1,594,000 | 2,153,000 |
Current | 29,728,000 | 32,513,000 |
Loans Ending balance | 31,322,000 | 34,666,000 |
Equity Lines of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 72,000 | 527,000 |
90 Days and Still Accruing | ' | ' |
Nonaccrual | 861,000 | 1,349,000 |
Total Past Due | 933,000 | 1,876,000 |
Current | 34,867,000 | 34,997,000 |
Loans Ending balance | 35,800,000 | 36,873,000 |
Auto [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 244,000 | 151,000 |
90 Days and Still Accruing | ' | 11,000 |
Nonaccrual | 77,000 | 44,000 |
Total Past Due | 321,000 | 206,000 |
Current | 29,984,000 | 19,077,000 |
Loans Ending balance | 30,305,000 | 19,283,000 |
Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 63,000 | 102,000 |
90 Days and Still Accruing | 17,000 | 4,000 |
Nonaccrual | ' | 4,000 |
Total Past Due | 80,000 | 110,000 |
Current | 4,050,000 | 4,102,000 |
Loans Ending balance | $4,130,000 | $4,212,000 |
Recovered_Sheet1
Loans and the Allowance for Loan Losses - Information Related to Impaired Loans at Dates Indicated (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment with no related allowance recorded | $7,493,000 | $4,516,000 | ' |
Recorded Investment with an allowance recorded | 2,322,000 | 14,334,000 | ' |
Related Allowance Total | 629,000 | 1,186,000 | 2,066,000 |
Recorded Investment Total | 9,815,000 | 18,850,000 | 24,402,000 |
Unpaid Principal Balance Total | 10,533,000 | 21,894,000 | 25,342,000 |
Related Allowance Total | 629,000 | 1,186,000 | 2,066,000 |
Average Recorded Investment Total | 10,182,000 | 19,816,000 | 25,536,000 |
Interest Income Recognized Total | 298,000 | 597,000 | 666,000 |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment with no related allowance recorded | 1,224,000 | 1,022,000 | 2,506,000 |
Unpaid Principal Balance with no related allowance recorded | 1,493,000 | 1,398,000 | 2,882,000 |
Average Recorded Investment with no related allowance recorded | 1,239,000 | 1,597,000 | 2,458,000 |
Interest Income Recognized with no related allowance recorded | 3,000 | 16,000 | 56,000 |
Recorded Investment with an allowance recorded | 100,000 | 2,456,000 | 2,440,000 |
Unpaid Principal Balance with an allowance recorded | 100,000 | 2,849,000 | 2,440,000 |
Related Allowance Total | 79,000 | 192,000 | 310,000 |
Average Recorded Investment with related allowance recorded | 58,000 | 2,765,000 | 1,349,000 |
Interest Income Recognized with related allowance recorded | ' | 20,000 | 25,000 |
Recorded Investment Total | 1,324,000 | 3,478,000 | 4,946,000 |
Unpaid Principal Balance Total | 1,593,000 | 4,247,000 | 5,322,000 |
Related Allowance Total | 79,000 | 192,000 | 310,000 |
Average Recorded Investment Total | 1,297,000 | 4,362,000 | 3,807,000 |
Interest Income Recognized Total | 3,000 | 36,000 | 81,000 |
Agricultural [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment with no related allowance recorded | 267,000 | 245,000 | 923,000 |
Unpaid Principal Balance with no related allowance recorded | 267,000 | 725,000 | 1,153,000 |
Average Recorded Investment with no related allowance recorded | 267,000 | 573,000 | 931,000 |
Interest Income Recognized with no related allowance recorded | 20,000 | 39,000 | 62,000 |
Recorded Investment with an allowance recorded | ' | 402,000 | 345,000 |
Unpaid Principal Balance with an allowance recorded | ' | 402,000 | 345,000 |
Related Allowance Total | ' | 1,000 | 250,000 |
Average Recorded Investment with related allowance recorded | ' | 403,000 | 345,000 |
Interest Income Recognized with related allowance recorded | ' | 20,000 | ' |
Recorded Investment Total | 267,000 | 647,000 | 1,268,000 |
Unpaid Principal Balance Total | 267,000 | 1,127,000 | 1,498,000 |
Related Allowance Total | ' | 1,000 | 250,000 |
Average Recorded Investment Total | 267,000 | 976,000 | 1,276,000 |
Interest Income Recognized Total | 20,000 | 59,000 | 62,000 |
Real Estate - Construction [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment with no related allowance recorded | 1,325,000 | 1,429,000 | 1,955,000 |
Unpaid Principal Balance with no related allowance recorded | 1,325,000 | 1,503,000 | 2,210,000 |
Average Recorded Investment with no related allowance recorded | 1,384,000 | 1,106,000 | 6,911,000 |
Interest Income Recognized with no related allowance recorded | 79,000 | 98,000 | 117,000 |
Recorded Investment with an allowance recorded | 412,000 | 3,762,000 | 4,799,000 |
Unpaid Principal Balance with an allowance recorded | 412,000 | 5,187,000 | 4,850,000 |
Related Allowance Total | 13,000 | 68,000 | 901,000 |
Average Recorded Investment with related allowance recorded | 417,000 | 2,056,000 | 2,521,000 |
Interest Income Recognized with related allowance recorded | 25,000 | 35,000 | 186,000 |
Recorded Investment Total | 1,737,000 | 5,191,000 | 6,754,000 |
Unpaid Principal Balance Total | 1,737,000 | 6,690,000 | 7,060,000 |
Related Allowance Total | 13,000 | 68,000 | 901,000 |
Average Recorded Investment Total | 1,801,000 | 3,162,000 | 9,432,000 |
Interest Income Recognized Total | 104,000 | 133,000 | 303,000 |
Real Estate - Commercial [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment with no related allowance recorded | 2,237,000 | 941,000 | 1,707,000 |
Unpaid Principal Balance with no related allowance recorded | 2,675,000 | 1,013,000 | 1,707,000 |
Average Recorded Investment with no related allowance recorded | 2,489,000 | 1,997,000 | 4,751,000 |
Interest Income Recognized with no related allowance recorded | 53,000 | 96,000 | 70,000 |
Recorded Investment with an allowance recorded | 837,000 | 3,587,000 | 3,850,000 |
Unpaid Principal Balance with an allowance recorded | 837,000 | 3,588,000 | 3,850,000 |
Related Allowance Total | 232,000 | 284,000 | 148,000 |
Average Recorded Investment with related allowance recorded | 994,000 | 3,473,000 | 1,664,000 |
Interest Income Recognized with related allowance recorded | ' | 102,000 | ' |
Recorded Investment Total | 3,074,000 | 4,528,000 | 5,557,000 |
Unpaid Principal Balance Total | 3,512,000 | 4,601,000 | 5,557,000 |
Related Allowance Total | 232,000 | 284,000 | 148,000 |
Average Recorded Investment Total | 3,483,000 | 5,470,000 | 6,415,000 |
Interest Income Recognized Total | 53,000 | 198,000 | 70,000 |
Real Estate - Residential [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment with no related allowance recorded | 2,024,000 | 343,000 | 1,711,000 |
Unpaid Principal Balance with no related allowance recorded | 2,035,000 | 354,000 | 1,739,000 |
Average Recorded Investment with no related allowance recorded | 2,057,000 | 1,336,000 | 2,069,000 |
Interest Income Recognized with no related allowance recorded | 89,000 | 28,000 | 106,000 |
Recorded Investment with an allowance recorded | 451,000 | 3,255,000 | 2,546,000 |
Unpaid Principal Balance with an allowance recorded | 451,000 | 3,255,000 | 2,546,000 |
Related Allowance Total | 200,000 | 459,000 | 355,000 |
Average Recorded Investment with related allowance recorded | 452,000 | 2,818,000 | 1,005,000 |
Interest Income Recognized with related allowance recorded | 10,000 | 105,000 | 9,000 |
Recorded Investment Total | 2,475,000 | 3,598,000 | 4,257,000 |
Unpaid Principal Balance Total | 2,486,000 | 3,609,000 | 4,285,000 |
Related Allowance Total | 200,000 | 459,000 | 355,000 |
Average Recorded Investment Total | 2,509,000 | 4,154,000 | 3,074,000 |
Interest Income Recognized Total | 99,000 | 133,000 | 115,000 |
Equity Lines of Credit [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment with no related allowance recorded | 339,000 | 490,000 | 1,345,000 |
Unpaid Principal Balance with no related allowance recorded | 339,000 | 490,000 | 1,345,000 |
Average Recorded Investment with no related allowance recorded | 294,000 | 613,000 | 1,285,000 |
Interest Income Recognized with no related allowance recorded | 9,000 | 22,000 | 22,000 |
Recorded Investment with an allowance recorded | 522,000 | 870,000 | 149,000 |
Unpaid Principal Balance with an allowance recorded | 522,000 | 1,082,000 | 149,000 |
Related Allowance Total | 105,000 | 180,000 | 101,000 |
Average Recorded Investment with related allowance recorded | 511,000 | 974,000 | 53,000 |
Interest Income Recognized with related allowance recorded | 7,000 | 5,000 | 1,000 |
Recorded Investment Total | 861,000 | 1,360,000 | 1,494,000 |
Unpaid Principal Balance Total | 861,000 | 1,572,000 | 1,494,000 |
Related Allowance Total | 105,000 | 180,000 | 101,000 |
Average Recorded Investment Total | 805,000 | 1,587,000 | 1,338,000 |
Interest Income Recognized Total | 16,000 | 27,000 | 23,000 |
Auto [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment with no related allowance recorded | 77,000 | 44,000 | 76,000 |
Unpaid Principal Balance with no related allowance recorded | 77,000 | 44,000 | 76,000 |
Average Recorded Investment with no related allowance recorded | 20,000 | 60,000 | 102,000 |
Interest Income Recognized with no related allowance recorded | 3,000 | 5,000 | 10,000 |
Recorded Investment with an allowance recorded | ' | ' | ' |
Unpaid Principal Balance with an allowance recorded | ' | ' | ' |
Related Allowance Total | ' | ' | ' |
Average Recorded Investment with related allowance recorded | ' | ' | ' |
Interest Income Recognized with related allowance recorded | ' | ' | ' |
Recorded Investment Total | 77,000 | 44,000 | 76,000 |
Unpaid Principal Balance Total | 77,000 | 44,000 | 76,000 |
Related Allowance Total | ' | ' | ' |
Average Recorded Investment Total | 20,000 | 60,000 | 102,000 |
Interest Income Recognized Total | 3,000 | 5,000 | 10,000 |
Other [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment with no related allowance recorded | ' | 2,000 | 49,000 |
Unpaid Principal Balance with no related allowance recorded | ' | 2,000 | 49,000 |
Average Recorded Investment with no related allowance recorded | ' | 45,000 | 91,000 |
Interest Income Recognized with no related allowance recorded | ' | 6,000 | 2,000 |
Recorded Investment with an allowance recorded | ' | 2,000 | 1,000 |
Unpaid Principal Balance with an allowance recorded | ' | 2,000 | 1,000 |
Related Allowance Total | ' | 2,000 | 1,000 |
Average Recorded Investment with related allowance recorded | ' | ' | 1,000 |
Recorded Investment Total | ' | 4,000 | 50,000 |
Unpaid Principal Balance Total | ' | 4,000 | 50,000 |
Related Allowance Total | ' | 2,000 | 1,000 |
Average Recorded Investment Total | ' | 45,000 | 92,000 |
Interest Income Recognized Total | ' | $6,000 | $2,000 |
Premises_and_Equipment_Premise
Premises and Equipment - Premises and Equipment Consisted (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | $28,064,000 | $28,224,000 |
Less accumulated depreciation and amortization | -15,545,000 | -14,953,000 |
Premises and equipment, net | 12,519,000 | 13,271,000 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | 2,628,000 | 2,628,000 |
Premises [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | 15,793,000 | 15,417,000 |
Furniture, Equipment and Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | $9,643,000 | $10,179,000 |
Premises_and_Equipment_Additio
Premises and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property Plant And Equipment [Abstract] | ' | ' | ' |
Depreciation and amortization included in occupancy and equipment expense | $1,166,000 | $1,181,000 | $1,233,000 |
Deposits_Schedule_of_Interestb
Deposits - Schedule of Interest-bearing Deposits (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Banking And Thrift [Abstract] | ' | ' |
Interest-bearing demand deposits | $82,687,000 | $83,384,000 |
Money market | 47,331,000 | 43,751,000 |
Savings | 93,922,000 | 70,205,000 |
Time, $100,000 or more | 23,828,000 | 27,886,000 |
Other time | 38,855,000 | 42,690,000 |
Interest-bearing deposits Total | $286,623,000 | $267,916,000 |
Deposits_Scheduled_Maturities_
Deposits - Scheduled Maturities of Time Deposits (Detail) (USD $) | Dec. 31, 2013 |
Banking And Thrift [Abstract] | ' |
2014 | $49,504,000 |
2015 | 9,863,000 |
2016 | 2,505,000 |
2017 | 446,000 |
2018 | 327,000 |
thereafter | 38,000 |
Total | $62,683,000 |
Deposits_Additional_Informatio
Deposits - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Banking And Thrift [Abstract] | ' | ' |
Time deposits denomination | $100,000 | ' |
Contractual maturities of time deposits with a denomination of $100,000 in 3 months or less | 6,822,000 | ' |
Contractual maturities of time deposits with a denomination of $100,000 over 3 months through 6 months | 4,922,000 | ' |
Contractual maturities of time deposits with a denomination of $100,000 over 6 months through 12 months | 5,794,000 | ' |
Contractual maturities of time deposits with a denomination of $100,000 over 12 months. | 6,290,000 | ' |
Deposit overdrafts reclassified as loan | $357,000 | $392,000 |
Securities_Sold_under_Agreemen2
Securities Sold under Agreements to Repurchase - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Securities Sold Under Agreements To Repurchase [Abstract] | ' | ' |
Repurchase agreements | $9,109,000 | $7,377,000 |
Securities_Sold_under_Agreemen3
Securities Sold under Agreements to Repurchase - Securities Sold under Agreements to Repurchase (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Securities Sold Under Agreements To Repurchase [Abstract] | ' | ' |
Average daily balance during the year | $7,285,000 | $5,982,000 |
Maximum month-end balance during the year | $9,109,000 | $8,041,000 |
Average interest rate during the year | 0.18% | 0.27% |
Weighted average interest rate at year-end | 0.09% | 0.25% |
Borrowing_Arrangements_Additio
Borrowing Arrangements - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2013 | Apr. 15, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 30, 2009 | Dec. 31, 2013 | Oct. 24, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 15, 2013 | Dec. 31, 2013 | Oct. 24, 2013 | Oct. 24, 2013 | |
Common Stock [Member] | Plumas Bank [Member] | Lender Bank One [Member] | Lender Bank Two [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Notes Payable [Member] | Notes Payable [Member] | Notes Payable [Member] | ||||||
Maximum [Member] | Plumas Bank [Member] | |||||||||||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum amount the company can borrow from FHLB | $104,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of mortgage loans used as a collateral for maximum borrowing from FHLB | 193,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of FHLB stock held by the company | 2,226,000 | ' | 1,950,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total amount which company can borrow with the existing FHLB stock level | 47,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of additional stock from FHLB for maximum borrowing | 2,660,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding borrowings under agreement | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured short-term borrowing agreements | ' | ' | ' | ' | ' | ' | ' | 11,000,000 | 10,000,000 | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | ' | 3,000,000 | ' |
Debt instrument term | ' | ' | ' | ' | ' | ' | ' | ' | ' | '8 years | ' | '18 months | ' | ' |
Debt instrument, collateral shares of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 |
Percentage ownership interest in subsidiary | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 541,000 | ' | 23,000 | ' | ' |
Debt instrument, interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.50% | ' | 4.00% | ' | ' |
Prepayment allowed during first two years | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Warrant term | '8 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities called by warrant | 300,000 | ' | 237,712 | 237,712 | 237,712 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant exercise price | 5.25 | ' | 7.54 | 7.54 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of accumulation of subordinated debt to qualify as Tier 2 capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' |
Percentage of reduction of subordinated debt to qualify as Tier 2 capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' |
Warrant fair value | ' | $318,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt discount amortization period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' |
Junior_Subordinated_Deferrable1
Junior Subordinated Deferrable Interest Debentures - Additional Information (Detail) (USD $) | 12 Months Ended | ||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2002 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2005 | Dec. 31, 2013 | |
Plumas Statutory Trust I [Member] | Plumas Statutory Trust I [Member] | Plumas Statutory Trust I [Member] | Plumas Statutory Trust II [Member] | Plumas Statutory Trust II [Member] | Plumas Statutory Trust II [Member] | ||||
Subordinated Debt [Member] | Subordinated Debt [Member] | ||||||||
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital | ' | ' | ' | $298,000 | ' | ' | $159,000 | ' | ' |
Amount of trust preferred securities, eligible for Tier 1 Capital | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' |
Floating rate capital trust pass through securities | ' | ' | ' | ' | 6,000 | ' | ' | 4,000 | ' |
Liquidation value, per security | ' | ' | ' | ' | $1,000 | ' | ' | $1,000 | ' |
Gross proceeds | ' | ' | ' | ' | 6,000,000 | ' | ' | 4,000,000 | ' |
Proceeds invested | ' | ' | ' | ' | 6,186,000 | ' | ' | 4,124,000 | ' |
Maturity date of subordinate debt issued | ' | ' | ' | ' | ' | 26-Sep-32 | ' | ' | 28-Sep-35 |
Current interest rate | ' | ' | ' | ' | ' | 3.65% | ' | ' | 1.72% |
LIBOR plus interest | ' | ' | ' | 3.40% | ' | 3.40% | 1.48% | ' | 1.48% |
LIBOR rate period | ' | ' | ' | ' | ' | '3 months | ' | ' | '3 months |
Subordinated debentures, anniversary | ' | ' | ' | ' | ' | '5 years | ' | ' | '5 years |
Cumulative cash distribution, per securities | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' |
Option to defer payment to distributions period | ' | ' | ' | '5 years | ' | ' | '5 years | ' | ' |
Amount aggregate payments on the payments on the subordinated debt | ' | 906,000 | 569,000 | ' | ' | ' | ' | ' | ' |
Interest expense recognized | $313,000 | $344,000 | $326,000 | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies - Future Minimum Lease Payments (Detail) (USD $) | Dec. 31, 2013 |
Commitments And Contingencies Disclosure [Abstract] | ' |
2014 | $159,000 |
2015 | 128,000 |
2016 | 83,000 |
Total | $370,000 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' | ' |
Operating leases, rent expense | ' | $154,000 | $153,000 | $150,000 |
Consumer loan commitments as percentage of aggregate commitments | 18.00% | 18.00% | ' | ' |
Commercial and agricultural loan commitments as percentage of aggregate commitments | 36.00% | 36.00% | ' | ' |
Real estate loan commitments as percentage of aggregate commitments | 46.00% | 46.00% | ' | ' |
Maximum loan to value ratio | 80.00% | ' | ' | ' |
Commitments_and_Contingencies_3
Commitments and Contingencies - Financial Instruments Representing Off-Balance-Sheet Credit Risk (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments And Contingencies [Line Items] | ' | ' |
Letters of credit | $60,000 | $110,000 |
Commitments to Extend Credit [Member] | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' |
Commitments to extend credit | $84,229,000 | $76,030,000 |
Shareholders_Equity_Additional
Shareholders' Equity - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 31-May-13 | Jan. 30, 2009 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 25, 2013 | Sep. 16, 2013 | Jun. 27, 2013 | Apr. 18, 2013 | Jan. 30, 2009 | Dec. 31, 2013 | Sep. 30, 2013 | 22-May-13 | |
Investment | Employee Stock Option [Member] | Employee Stock Option [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Warrant [Member] | |||||
2013 Plan [Member] | |||||||||||||||
Schedule Of Shareholders Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets as percent of liabilities | 125.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets as percent of liabilities | 125.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend restriction description | 'The lesser of the Bank's retained earnings or the Bank's net income for the latest three fiscal years, less dividends previously declared during that period, or, with the approval of the DFI, to the greater of the retained earnings of the Bank, the net income of the Bank for its last fiscal year, or the net income of the Bank for its current fiscal year. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend distribution available under restriction | $3,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Series A preferred stock issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,949 | ' | ' | ' |
Purchase of warrant | 300,000 | 237,712 | 237,712 | ' | 237,712 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate purchase price of preferred shares and warrants | ' | ' | ' | ' | 11,949,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
No par value, common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of institutions with similar investments | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of redeemable preferred stock | ' | ' | ' | ' | ' | ' | ' | 3,133 | 250 | 1,566 | 7,000 | ' | ' | ' | ' |
Preferred stock discount on shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% | ' | ' |
Remaining redeemable preferred stock held by private investors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,949 | ' | ' | ' | ' |
Series A preferred stock, purchase price per share | ' | ' | ' | ' | ' | ' | ' | ' | $985 | $1,000 | ' | ' | ' | ' | ' |
Outstanding shares | ' | 11,949 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,133 | ' |
Purchase price of redeemable preferred stock | 11,384,000 | ' | ' | ' | ' | ' | ' | 3,101,670 | ' | ' | ' | ' | ' | ' | ' |
Accrued dividends | 1,968,000 | ' | ' | ' | ' | ' | ' | 30,453 | ' | ' | ' | ' | ' | ' | ' |
Percentage of discount from the liquidation value of preferred stock | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' |
Purchase of warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 234,500 |
Stock options not included in the computation of diluted earnings per share | 172,000 | 632,000 | 721,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock anti-dilution adjustment | 5.25 | 7.54 | 7.54 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock remain reserved for issuance to employees and directors | ' | ' | ' | 500,000 | ' | 365,059 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares available for grant to employees and directors | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment in full option, description | 'Payment in full for the option price must be made in cash or with Company common stock previously acquired by the optionee and held by the optionee for a period of at least six months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Option expiry date | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Option grants | 0 | 0 | 248,000 | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost related to non-vested stock option awards | 49,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected weighted-average period | '1 year 2 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total fair value of options vested | 52,000 | 89,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of options exercised | 34,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from exercise of stock options | 34,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit realized for the tax deduction of options exercised | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shareholders_Equity_Earnings_P
Shareholders' Equity - Earnings Per Share (Detail) (USD $) | 12 Months Ended | ||
Share data in Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net Income: | ' | ' | ' |
Net income | $3,431,000 | $1,950,000 | $941,000 |
Discount on redemption of preferred shares | 565,000 | ' | ' |
Dividends and accretion on preferred shares | -347,000 | -684,000 | -684,000 |
Net income available to common shareholders | $3,649,000 | $1,266,000 | $257,000 |
Earnings Per Share: | ' | ' | ' |
Basic earnings per share | $0.76 | $0.26 | $0.05 |
Diluted earnings per share | $0.75 | $0.26 | $0.05 |
Weighted Average Number of Shares Outstanding: | ' | ' | ' |
Basic shares | 4,780 | 4,776 | 4,776 |
Diluted shares | 4,883 | 4,782 | 4,776 |
Shareholders_Equity_Stock_Opti
Shareholders' Equity - Stock Option Activity (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Equity [Abstract] | ' | ' | ' |
Options outstanding, Shares, Beginning balance | 419,806 | 482,780 | 312,030 |
Options granted, Shares | 0 | 0 | 248,000 |
Options cancelled, Shares | -43,347 | -62,974 | -77,250 |
Options exercised, Shares | -11,400 | ' | ' |
Options outstanding, Shares, Ending balance | 365,059 | 419,806 | 482,780 |
Options outstanding, Weighted Average Exercise Price, Beginning balance | $8.67 | $8.74 | $13.41 |
Options exercisable at December 31, 2013, Shares | 265,266 | ' | ' |
Options granted, Weighted Average Exercise Price | ' | ' | $2.95 |
Expected to vest after December 31, 2013, Shares | 83,893 | ' | ' |
Options cancelled, Weighted Average Exercise Price | $11.34 | $9.17 | $9.05 |
Options exercised, Weighted Average Exercise Price | $2.95 | ' | ' |
Options outstanding, Weighted Average Exercise Price, Ending balance | $8.53 | $8.67 | $8.74 |
Options exercisable at December 31, 2013, Weighted Average Exercise Price | $10.63 | ' | ' |
Expected to vest after December 31, 2013, Weighted Average Exercise Price | $2.95 | ' | ' |
Options outstanding at December 31, 2013, Weighted Average Remaining Contractual Term | '3 years 4 months 24 days | ' | ' |
Options exercisable at December 31, 2013, Weighted Average Remaining Contractual Term | '2 years 9 months 18 days | ' | ' |
Expected to vest after December 31, 2013, Weighted Average Remaining Contractual Term | '5 years 2 months 12 days | ' | ' |
Options outstanding at December 31, 2013, Intrinsic Value | $631,110 | ' | ' |
Options exercisable at December 31, 2013, Intrinsic Value | 304,764 | ' | ' |
Expected to vest after December 31, 2013, Intrinsic Value | $274,329 | ' | ' |
Shareholders_Equity_Regulatory
Shareholders' Equity - Regulatory Capital (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Leverage Ratio | ' | ' |
Minimum requirement for "Well-Capitalized" institution under the prompt corrective action, Leverage Amount | $26,026,000 | $23,852,000 |
Tier 1 Risk-Based Capital Ratio | ' | ' |
Minimum requirement for "Well-Capitalized" institution under the prompt corrective action, Risk-Based Capital Amount | 22,986,000 | 21,200,000 |
Total Risk-Based Capital Ratio | ' | ' |
Minimum requirement for "Well-Capitalized" institution under the prompt corrective action, Total Risk-Based capital Amount | 38,310,000 | 35,333,000 |
Leverage Ratio | ' | ' |
Minimum requirement for "Well-Capitalized" institution under the prompt corrective action, Leverage Ratio | 5.00% | 5.00% |
Tier 1 Risk-Based Capital Ratio | ' | ' |
Minimum requirement for "Well-Capitalized" institution under the prompt corrective action, Risk-Based Capital Ratio | 6.00% | 6.00% |
Total Risk-Based Capital Ratio | ' | ' |
Minimum requirement for "Well-Capitalized" institution under the prompt corrective action | 10.00% | 10.00% |
Plumas Bancorp and Subsidiary [Member] | ' | ' |
Leverage Ratio | ' | ' |
Plumas Bancorp and Subsidiary, Leverage Amount | 40,909,000 | 49,052,000 |
Minimum regulatory requirement, Leverage Amount | 20,856,000 | 19,040,000 |
Tier 1 Risk-Based Capital Ratio | ' | ' |
Plumas Bancorp and Subsidiary, Risk-Based Capital Amount | 40,909,000 | 49,052,000 |
Minimum regulatory requirement, Risk-Based Capital Amount | 15,332,000 | 14,143,000 |
Total Risk-Based Capital Ratio | ' | ' |
Plumas Bancorp and Subsidiary, Total Risk-Based capital Amount | 53,006,000 | 53,489,000 |
Minimum regulatory requirement, Total Risk-Based capital Amount | 30,664,000 | 28,286,000 |
Leverage Ratio | ' | ' |
Plumas Bancorp and Subsidiary, Leverage Ratio | 7.80% | 10.30% |
Minimum regulatory requirement, Leverage Ratio | 4.00% | 4.00% |
Tier 1 Risk-Based Capital Ratio | ' | ' |
Plumas Bancorp and Subsidiary, Risk-Based Capital Ratio | 10.70% | 13.90% |
Minimum regulatory requirement, Risk-Based Capital Ratio | 4.00% | 4.00% |
Total Risk-Based Capital Ratio | ' | ' |
Plumas Bancorp and Subsidiary, Total Risk-Based Capital Ratio | 13.80% | 15.10% |
Minimum regulatory requirement, Total Risk-Based Capital Ratio | 8.00% | 8.00% |
Plumas Bank [Member] | ' | ' |
Leverage Ratio | ' | ' |
Plumas Bancorp and Subsidiary, Leverage Amount | 50,748,000 | 49,662,000 |
Minimum regulatory requirement, Leverage Amount | 20,821,000 | 19,032,000 |
Tier 1 Risk-Based Capital Ratio | ' | ' |
Plumas Bancorp and Subsidiary, Risk-Based Capital Amount | 50,748,000 | 49,662,000 |
Minimum regulatory requirement, Risk-Based Capital Amount | 15,324,000 | 14,133,000 |
Total Risk-Based Capital Ratio | ' | ' |
Plumas Bancorp and Subsidiary, Total Risk-Based capital Amount | 55,547,000 | 54,096,000 |
Minimum regulatory requirement, Total Risk-Based capital Amount | $30,648,000 | $28,266,000 |
Leverage Ratio | ' | ' |
Plumas Bancorp and Subsidiary, Leverage Ratio | 9.70% | 10.40% |
Minimum regulatory requirement, Leverage Ratio | 4.00% | 4.00% |
Tier 1 Risk-Based Capital Ratio | ' | ' |
Plumas Bancorp and Subsidiary, Risk-Based Capital Ratio | 13.20% | 14.10% |
Minimum regulatory requirement, Risk-Based Capital Ratio | 4.00% | 4.00% |
Total Risk-Based Capital Ratio | ' | ' |
Plumas Bancorp and Subsidiary, Total Risk-Based Capital Ratio | 14.50% | 15.30% |
Minimum regulatory requirement, Total Risk-Based Capital Ratio | 8.00% | 8.00% |
Other_Expenses_Summary_of_Othe
Other Expenses - Summary of Other Expenses (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Other Income And Expenses [Abstract] | ' | ' | ' |
Outside service fees | $1,855,000 | $1,503,000 | $1,270,000 |
Professional fees | 831,000 | 875,000 | 730,000 |
FDIC Insurance | 435,000 | 613,000 | 1,099,000 |
OREO expenses | 310,000 | 187,000 | 422,000 |
Business development | 291,000 | 268,000 | 262,000 |
Telephone and data communications | 287,000 | 308,000 | 331,000 |
Advertising and promotion | 281,000 | 251,000 | 236,000 |
Director compensation and retirement | 232,000 | 255,000 | 229,000 |
Armored car and courier | 228,000 | 224,000 | 225,000 |
Loan collection expenses | 212,000 | 219,000 | 261,000 |
Core deposit intangible amortization | 128,000 | 173,000 | 173,000 |
Stationery and supplies | 113,000 | 124,000 | 140,000 |
Insurance | 112,000 | 120,000 | 42,000 |
Postage | 51,000 | 104,000 | 190,000 |
(Gain) loss on sale of other real estate | -171,000 | 16,000 | 606,000 |
Other operating expenses | 286,000 | 239,000 | 168,000 |
Total | $5,481,000 | $5,479,000 | $6,384,000 |
Income_Taxes_Provision_for_Inc
Income Taxes - Provision for Income Taxes (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Current, federal | $60,000 | $25,000 | $34,000 |
Deferred, federal | 1,578,000 | 812,000 | 228,000 |
Provision for income taxes, federal | 1,638,000 | 837,000 | 262,000 |
Current, state | 22,000 | 3,000 | 2,000 |
Deferred, state | 507,000 | 230,000 | 31,000 |
Provision for income tax, state | 529,000 | 233,000 | 33,000 |
Current, total | 82,000 | 28,000 | 36,000 |
Deferred, total | 2,085,000 | 1,042,000 | 259,000 |
Provision for income taxes | $2,167,000 | $1,070,000 | $295,000 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes - Deferred Tax Assets (Liabilities) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Deferred tax assets: | ' | ' |
Allowance for loan losses | $29,000 | $327,000 |
Net operating loss carryovers | 1,069,000 | 2,636,000 |
Deferred compensation | 1,757,000 | 1,739,000 |
OREO valuation allowance | 1,097,000 | 1,326,000 |
Unrealized loss on available-for-sale investment securities | 817,000 | ' |
Other | 1,049,000 | 855,000 |
Total deferred tax assets | 5,818,000 | 6,883,000 |
Deferred tax liabilities: | ' | ' |
Deferred loan costs | -1,187,000 | -960,000 |
Unrealized gain on available-for-sale investment securities | ' | -232,000 |
Other | -233,000 | -257,000 |
Total deferred tax liabilities | -1,420,000 | -1,449,000 |
Net deferred tax assets | $4,398,000 | $5,434,000 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Taxes [Line Items] | ' | ' |
Minimum percentage of chance treated as more likely than not | 50.00% | ' |
Total deferred tax assets | $5,818,000 | $6,883,000 |
Total deferred tax liabilities | 1,420,000 | 1,449,000 |
Net deferred tax asset | 4,398,000 | 5,434,000 |
Deferred income tax assets, valuation allowance | 0 | 0 |
Federal [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Operating loss carryforwards | 903,000 | ' |
State [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Operating loss carryforwards | $10,645,000 | ' |
Income_Taxes_Provision_for_Inc1
Income Taxes - Provision for Income Taxes Differs from Amounts Computed by Applying the Statutory Federal Income Tax Rate to Operating Income before Income Taxes (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Federal income tax, at statutory rate | 34.00% | 34.00% | 34.00% |
State franchise tax, net of Federal tax effect | 6.00% | 5.70% | 4.40% |
Interest on obligations of states and political subdivisions | -0.10% | -0.30% | -2.70% |
Net increase in cash surrender value of bank owned life insurance | -2.10% | -3.90% | -9.70% |
Other | 0.90% | -0.10% | -2.10% |
Effective tax rate | 38.70% | 35.40% | 23.90% |
Related_Party_Transactions_Sum
Related Party Transactions - Summary of Aggregate Activity Involving Related Party Borrowers (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Balance, January 1, 2013 | $473,000 |
Disbursements | 1,076,000 |
Amounts repaid | -136,000 |
Balance, December 31, 2013 | 1,413,000 |
Undisbursed commitments to related parties, December 31, 2013 | $1,970,000 |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Employee Benefit Plan [Line Items] | ' | ' | ' |
Contribution | $0 | $0 | $0 |
Expense recognized under salary continuation and retirement agreements | 286,000 | 507,000 | 385,000 |
Accrued compensation payable | 4,009,000 | 4,002,000 | ' |
Cash surrender values of life insurance | 11,504,000 | 11,160,000 | ' |
Income on life insurance, net of expenses | $344,000 | $345,000 | $352,000 |
Executives [Member] | ' | ' | ' |
Employee Benefit Plan [Line Items] | ' | ' | ' |
Salary continuation and retirement number of individuals | 2 | ' | ' |
Board of Directors [Member] | ' | ' | ' |
Employee Benefit Plan [Line Items] | ' | ' | ' |
Salary continuation and retirement number of individuals | 7 | ' | ' |
Former Executives [Member] | ' | ' | ' |
Employee Benefit Plan [Line Items] | ' | ' | ' |
Salary continuation and retirement number of individuals | 4 | ' | ' |
Former Director [Member] | ' | ' | ' |
Employee Benefit Plan [Line Items] | ' | ' | ' |
Salary continuation and retirement number of individuals | 4 | ' | ' |
Minimum [Member] | ' | ' | ' |
Employee Benefit Plan [Line Items] | ' | ' | ' |
Period of payment | ' | ' | '12 years |
Maximum [Member] | ' | ' | ' |
Employee Benefit Plan [Line Items] | ' | ' | ' |
Period of payment | ' | ' | '15 years |
Parent_Only_Condensed_Financia2
Parent Only Condensed Financial Statements - Condensed Balance Sheets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | $49,917,000 | $44,675,000 | $63,076,000 | $64,628,000 |
Total assets | 515,725,000 | 477,802,000 | ' | ' |
LIABILITIES AND SHAREHOLDERS' EQUITY | ' | ' | ' | ' |
Note Payable | 3,000,000 | ' | ' | ' |
Subordinated debentures | 7,295,000 | ' | ' | ' |
Total liabilities | 485,132,000 | 435,952,000 | ' | ' |
Shareholders' equity: | ' | ' | ' | ' |
Preferred stock | ' | 11,855,000 | ' | ' |
Common stock | 6,249,000 | 6,093,000 | ' | ' |
Retained earnings | 25,507,000 | 23,573,000 | ' | ' |
Accumulated other comprehensive (loss) income | -1,163,000 | 329,000 | ' | ' |
Total shareholders' equity | 30,593,000 | 41,850,000 | 39,634,000 | 37,988,000 |
Total liabilities and shareholders' equity | 515,725,000 | 477,802,000 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | 598,000 | 477,000 | 660,000 | 626,000 |
Investment in bank subsidiary | 49,585,000 | 51,372,000 | ' | ' |
Other assets | 1,048,000 | 1,334,000 | ' | ' |
Total assets | 51,231,000 | 53,183,000 | ' | ' |
LIABILITIES AND SHAREHOLDERS' EQUITY | ' | ' | ' | ' |
Other liabilities | 33,000 | 1,023,000 | ' | ' |
Note Payable | 3,000,000 | ' | ' | ' |
Subordinated debentures | 7,295,000 | ' | ' | ' |
Junior subordinated deferrable interest debentures | 10,310,000 | 10,310,000 | ' | ' |
Total liabilities | 20,638,000 | 11,333,000 | ' | ' |
Shareholders' equity: | ' | ' | ' | ' |
Preferred stock | ' | 11,855,000 | ' | ' |
Common stock | 6,249,000 | 6,093,000 | ' | ' |
Retained earnings | 25,507,000 | 23,573,000 | ' | ' |
Accumulated other comprehensive (loss) income | -1,163,000 | 329,000 | ' | ' |
Total shareholders' equity | 30,593,000 | 41,850,000 | ' | ' |
Total liabilities and shareholders' equity | $51,231,000 | $53,183,000 | ' | ' |
Parent_Only_Condensed_Financia3
Parent Only Condensed Financial Statements - Condensed Statements of Income and Comprehensive Income (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Expenses: | ' | ' | ' |
Interest on note payable | $23,000 | ' | ' |
Interest on subordinated debentures | 541,000 | ' | ' |
Interest on junior subordinated deferrable interest debentures | 313,000 | 344,000 | 326,000 |
Other expenses | 57,000 | 83,000 | 53,000 |
Total expenses | 1,534,000 | 1,274,000 | 1,848,000 |
Income (loss) before equity in undistributed income of subsidiary | 5,598,000 | 3,020,000 | 1,236,000 |
Income tax benefit | -2,167,000 | -1,070,000 | -295,000 |
Net income | 3,431,000 | 1,950,000 | 941,000 |
Total comprehensive income | 1,939,000 | 2,121,000 | 1,151,000 |
Parent Company [Member] | ' | ' | ' |
Income: | ' | ' | ' |
Dividends declared by bank subsidiary | 4,500,000 | ' | ' |
Earnings from investment in Plumas Statutory Trusts I and II | 9,000 | 10,000 | 10,000 |
Total income | 4,509,000 | 10,000 | 10,000 |
Expenses: | ' | ' | ' |
Interest on note payable | 23,000 | ' | ' |
Interest on subordinated debentures | 541,000 | ' | ' |
Interest on junior subordinated deferrable interest debentures | 313,000 | 344,000 | 326,000 |
Other expenses | 309,000 | 242,000 | 199,000 |
Total expenses | 1,186,000 | 586,000 | 525,000 |
Income (loss) before equity in undistributed income of subsidiary | 3,323,000 | -576,000 | -515,000 |
Equity in undistributed (loss) income of subsidiary | -330,000 | 2,289,000 | 1,244,000 |
Income before income taxes | 2,993,000 | 1,713,000 | 729,000 |
Income tax benefit | 438,000 | 237,000 | 212,000 |
Net income | 3,431,000 | 1,950,000 | 941,000 |
Total comprehensive income | $1,939,000 | $2,121,000 | $1,151,000 |
Parent_Only_Condensed_Financia4
Parent Only Condensed Financial Statements - Condensed Statements of Cash Flows (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Cash flows from operating activities: | ' | ' | ' |
Net income | $3,431,000 | $1,950,000 | $941,000 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' | ' |
Stock-based compensation expense | 38,000 | 95,000 | -29,000 |
Net cash provided by (used in) operating activities | 10,707,000 | 5,805,000 | 10,086,000 |
Cash flows from financing activities: | ' | ' | ' |
Issuance of subordinated debt, net of discount | 7,182,000 | ' | ' |
Issuance of common stock warrant | 318,000 | ' | ' |
Issuance of note payable | 3,000,000 | ' | ' |
Repurchase of common stock warrant | -234,000 | ' | ' |
Redemption of preferred stock | -11,384,000 | ' | ' |
Proceeds from exercise of stock options | 34,000 | ' | ' |
Payment of cash dividends on preferred stock | -1,968,000 | ' | ' |
Net cash provided by (used in) financing activities | 36,557,000 | 19,520,000 | -25,468,000 |
Increase (decrease) in cash and cash equivalents | 5,242,000 | -18,401,000 | -1,552,000 |
Cash and cash equivalents at beginning of year | 44,675,000 | 63,076,000 | 64,628,000 |
Cash and cash equivalents at end of year | 49,917,000 | 44,675,000 | 63,076,000 |
Parent Company [Member] | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' |
Net income | 3,431,000 | 1,950,000 | 941,000 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' | ' |
Undistributed loss (income) of subsidiary | 330,000 | -2,289,000 | -1,244,000 |
Amortization of discount on debentures | 113,000 | ' | ' |
Stock-based compensation expense | 4,000 | 5,000 | 2,000 |
Decrease (increase) in other assets | 285,000 | -248,000 | -15,000 |
(Decrease) increase in other liabilities | -990,000 | 399,000 | 350,000 |
Net cash provided by (used in) operating activities | 3,173,000 | -183,000 | 34,000 |
Cash flows from financing activities: | ' | ' | ' |
Issuance of subordinated debt, net of discount | 7,182,000 | ' | ' |
Issuance of common stock warrant | 318,000 | ' | ' |
Issuance of note payable | 3,000,000 | ' | ' |
Repurchase of common stock warrant | -234,000 | ' | ' |
Redemption of preferred stock | -11,384,000 | ' | ' |
Proceeds from exercise of stock options | 34,000 | ' | ' |
Payment of cash dividends on preferred stock | -1,968,000 | ' | ' |
Net cash provided by (used in) financing activities | -3,052,000 | ' | ' |
Increase (decrease) in cash and cash equivalents | 121,000 | -183,000 | 34,000 |
Cash and cash equivalents at beginning of year | 477,000 | 660,000 | 626,000 |
Cash and cash equivalents at end of year | $598,000 | $477,000 | $660,000 |