Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 01, 2014 | Jun. 28, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'FARMERS CAPITAL BANK CORP | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 7,479,614 | ' |
Entity Public Float | ' | ' | $147,000,000 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0000713095 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents: | ' | ' |
Cash and due from banks | $22,925 | $27,448 |
Interest bearing deposits in other banks | 41,749 | 65,675 |
Federal funds sold and securities purchased under agreements to resell | 3,579 | 2,732 |
Total cash and cash equivalents | 68,253 | 95,855 |
Investment securities: | ' | ' |
Available for sale, amortized cost of $618,395 (2013) and $558,630 (2012) | 612,820 | 573,108 |
Held to maturity, fair value of $827 (2013) and $956 (2012) | 765 | 820 |
Total investment securities | 613,585 | 573,928 |
Loans, net of unearned income | 999,883 | 1,004,995 |
Allowance for loan losses | -20,577 | -24,445 |
Loans, net | 979,306 | 980,550 |
Premises and equipment, net | 36,273 | 36,183 |
Company-owned life insurance | 28,899 | 27,973 |
Intangible assets, net | 854 | 1,394 |
Other real estate owned | 37,826 | 52,562 |
Other assets | 44,559 | 38,787 |
Total assets | 1,809,555 | 1,807,232 |
Deposits: | ' | ' |
Noninterest bearing | 277,294 | 254,912 |
Interest bearing | 1,132,921 | 1,155,898 |
Total deposits | 1,410,215 | 1,410,810 |
Federal funds purchased and other short-term borrowings | 29,123 | 24,083 |
Securities sold under agreements to repurchase and other long-term borrowings | 127,880 | 129,297 |
Subordinated notes payable to unconsolidated trusts | 48,970 | 48,970 |
Dividends payable | 188 | 188 |
Other liabilities | 23,124 | 25,863 |
Total liabilities | 1,639,500 | 1,639,211 |
Shareholders’ Equity | ' | ' |
Common stock, par value $.125 per share; 14,608,000 shares authorized; 7,478,706 and 7,469,813 shares issued and outstanding at December 31, 2013 and 2012, respectively | 935 | 934 |
Capital surplus | 51,102 | 50,934 |
Retained earnings | 91,242 | 79,747 |
Accumulated other comprehensive (loss) income | -3,212 | 6,869 |
Total shareholders’ equity | 170,055 | 168,021 |
Total liabilities and shareholders’ equity | 1,809,555 | 1,807,232 |
Series A Preferred Stock [Member] | ' | ' |
Shareholders’ Equity | ' | ' |
Preferred stock, no par value 1,000,000 shares authorized; 30,000 Series A shares issued and outstanding; Liquidation preference of $30,000 | $29,988 | $29,537 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | ||
Available for sale, amortized cost (in Dollars) | $618,395 | $558,630 | ' | ' |
Held to maturity, fair value (in Dollars) | 827 | 956 | ' | ' |
Preferred stock, par value (in Dollars per share) | ' | ' | $0 | $0 |
Preferred stock, shares authorized | ' | ' | 1,000,000 | 1,000,000 |
Preferred stock, Series A shares issued | ' | ' | 30,000 | 30,000 |
Preferred stock, Series A shares outstanding | ' | ' | 30,000 | 30,000 |
Preferred stock, Liquidation preference (in Dollars) | ' | ' | $30,000 | $30,000 |
Common stock, par value per share (in Dollars per share) | $0.13 | $0.13 | ' | ' |
Common stock, shares authorized | 14,608,000 | 14,608,000 | ' | ' |
Common stock, shares issued | 7,478,706 | 7,469,813 | ' | ' |
Common stock, shares outstanding | 7,478,706 | 7,469,813 | ' | ' |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest Income | ' | ' | ' |
Interest and fees on loans | $53,492 | $55,942 | $61,783 |
Interest on investment securities: | ' | ' | ' |
Taxable | 10,575 | 12,872 | 14,387 |
Nontaxable | 2,512 | 2,248 | 1,938 |
Interest on deposits in other banks | 150 | 156 | 237 |
Interest on federal funds sold and securities purchased under agreements to resell | 4 | 4 | 4 |
Total interest income | 66,733 | 71,222 | 78,349 |
Interest Expense | ' | ' | ' |
Interest on deposits | 5,922 | 9,239 | 14,488 |
Interest on federal funds purchased and other short-term borrowings | 74 | 96 | 191 |
Interest on securities sold under agreements to repurchase and other long-term borrowings | 5,135 | 7,044 | 7,965 |
Interest on subordinated notes payable to unconsolidated trusts | 864 | 1,879 | 2,026 |
Total interest expense | 11,995 | 18,258 | 24,670 |
Net interest income | 54,738 | 52,964 | 53,679 |
Provision for loan losses | -2,600 | 2,772 | 13,487 |
Net interest income after provision for loan losses | 57,338 | 50,192 | 40,192 |
Noninterest Income | ' | ' | ' |
Service charges and fees on deposits | 8,196 | 8,124 | 8,617 |
Allotment processing fees | 4,922 | 5,215 | 5,346 |
Other service charges, commissions, and fees | 4,983 | 4,478 | 4,248 |
Data processing income | 102 | 242 | 792 |
Trust income | 1,993 | 1,909 | 2,085 |
Investment securities (losses) gains, net | -50 | 1,209 | 1,355 |
Gains on sale of mortgage loans, net | 1,036 | 1,918 | 982 |
Income from company-owned life insurance | 962 | 1,524 | 939 |
Other | -28 | 35 | 27 |
Total noninterest income | 22,116 | 24,654 | 24,391 |
Noninterest Expense | ' | ' | ' |
Salaries and employee benefits | 29,681 | 28,190 | 26,986 |
Occupancy expenses, net | 4,767 | 4,757 | 4,846 |
Equipment expenses | 2,398 | 2,364 | 2,503 |
Data processing and communications expenses | 3,946 | 4,271 | 4,636 |
Bank franchise tax | 2,354 | 2,381 | 2,572 |
Amortization of intangibles | 540 | 1,014 | 1,143 |
Deposit insurance expense | 2,265 | 2,690 | 2,948 |
Other real estate expenses, net | 6,999 | 5,232 | 7,355 |
Legal expenses | 780 | 1,220 | 821 |
Other | 7,843 | 7,668 | 8,682 |
Total noninterest expense | 61,573 | 59,787 | 62,492 |
Income before income taxes | 17,881 | 15,059 | 2,091 |
Income tax expense (benefit) | 4,435 | 2,910 | -647 |
Net income | 13,446 | 12,149 | 2,738 |
Less preferred stock dividends and discount accretion | 1,951 | 1,922 | 1,896 |
Net income available to common shareholders | $11,495 | $10,227 | $842 |
Per Common Share | ' | ' | ' |
Net income – basic and diluted (in Dollars per share) | $1.54 | $1.37 | $0.11 |
Cash dividends declared (in Dollars per share) | $0 | $0 | $0 |
Weighted Average Common Shares Outstanding | ' | ' | ' |
Basic and diluted (in Shares) | 7,474 | 7,457 | 7,424 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $13,446 | $12,149 | $2,738 |
Other comprehensive (loss) income: | ' | ' | ' |
Unrealized holding (loss) gain on available for sale securities arising during the period on securities held at end of period, net of tax of $(6,996), $543, and $3,677, respectively | -12,992 | 1,009 | 6,829 |
Reclassification adjustment for prior period unrealized gain previously reported in other comprehensive income recognized during current period, net of tax of $23, $330, and $84, respectively | -42 | -612 | -156 |
Change in unfunded portion of postretirement benefit obligations, net of tax of $1,589, $(92), and $(500), respectively | 2,953 | -171 | -928 |
Other comprehensive (loss) income | -10,081 | 226 | 5,745 |
Comprehensive income | $3,365 | $12,375 | $8,483 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parentheticals) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Tax, Unrealized holding gain (loss) on available for sale securities arising during the period | ($6,996) | $543 | $3,677 |
Tax, Reclassification adjustment for prior period unrealized gain recognized during current period | 23 | 330 | 84 |
Tax, Change in unfunded portion of postretirement benefit obligations | $1,589 | ($92) | ($500) |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders’ Equity (USD $) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
In Thousands, except Share data | ||||||
Balance at Dec. 31, 2010 | $28,719 | $926 | $50,675 | $68,678 | $898 | $149,896 |
Balance (in Shares) at Dec. 31, 2010 | ' | 7,412,000 | ' | ' | ' | ' |
Net income | ' | ' | ' | 2,738 | ' | 2,738 |
Other comprehensive income (loss) | ' | ' | ' | ' | 5,745 | 5,745 |
Cash dividends declared-preferred | ' | ' | ' | -1,500 | ' | -1,500 |
Preferred stock discount accretion | 396 | ' | ' | -396 | ' | ' |
Repurchase of common stock warrant | ' | ' | ' | ' | ' | 0 |
Shares issued pursuant to employee stock purchase plan | ' | 5 | 131 | ' | ' | 136 |
Shares issued pursuant to employee stock purchase plan (in Shares) | ' | 34,000 | ' | ' | ' | 34,769 |
Expense related to employee stock purchase plan | ' | ' | 42 | ' | ' | 42 |
Balance at Dec. 31, 2011 | 29,115 | 931 | 50,848 | 69,520 | 6,643 | 157,057 |
Balance (in Shares) at Dec. 31, 2011 | ' | 7,446,000 | ' | ' | ' | ' |
Net income | ' | ' | ' | 12,149 | ' | 12,149 |
Other comprehensive income (loss) | ' | ' | ' | ' | 226 | 226 |
Cash dividends declared-preferred | ' | ' | ' | -1,500 | ' | -1,500 |
Preferred stock discount accretion | 422 | ' | ' | -422 | ' | ' |
Repurchase of common stock warrant | ' | ' | -75 | ' | ' | -75 |
Shares issued pursuant to employee stock purchase plan | ' | 3 | 125 | ' | ' | 128 |
Shares issued pursuant to employee stock purchase plan (in Shares) | ' | 24,000 | ' | ' | ' | 23,368 |
Expense related to employee stock purchase plan | ' | ' | 36 | ' | ' | 36 |
Balance at Dec. 31, 2012 | 29,537 | 934 | 50,934 | 79,747 | 6,869 | 168,021 |
Balance (in Shares) at Dec. 31, 2012 | ' | 7,470,000 | ' | ' | ' | ' |
Net income | ' | ' | ' | 13,446 | ' | 13,446 |
Other comprehensive income (loss) | ' | ' | ' | ' | -10,081 | -10,081 |
Cash dividends declared-preferred | ' | ' | ' | -1,500 | ' | -1,500 |
Preferred stock discount accretion | 451 | ' | ' | -451 | ' | ' |
Repurchase of common stock warrant | ' | ' | ' | ' | ' | 0 |
Shares issued pursuant to employee stock purchase plan | ' | 1 | 132 | ' | ' | 133 |
Shares issued pursuant to employee stock purchase plan (in Shares) | ' | 9,000 | ' | ' | ' | 8,893 |
Expense related to employee stock purchase plan | ' | ' | 36 | ' | ' | 36 |
Balance at Dec. 31, 2013 | $29,988 | $935 | $51,102 | $91,242 | ($3,212) | $170,055 |
Balance (in Shares) at Dec. 31, 2013 | ' | 7,479,000 | ' | ' | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders’ Equity (Parentheticals) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Preferred stock dividends, per share | $50 | $50 | $50 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash Flows from Operating Activities | ' | ' | ' |
Net income | $13,446 | $12,149 | $2,738 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 4,114 | 4,543 | 4,798 |
Net premium amortization of available for sale investment securities | 5,027 | 5,312 | 3,916 |
Provision for loan losses | -2,600 | 2,772 | 13,487 |
Deferred income tax benefit | -473 | -1,043 | -2,227 |
Noncash employee stock purchase plan expense | 36 | 36 | 42 |
Mortgage loans originated for sale | -52,016 | -84,496 | -41,128 |
Proceeds from sale of mortgage loans | 50,957 | 86,563 | 41,981 |
Gains on sale of mortgage loans, net | -1,036 | -1,918 | -982 |
Loss on disposal and write downs of premises and equipment, net | 7 | 257 | 3 |
Net loss on sale and write downs of other real estate | 5,702 | 4,084 | 5,945 |
Net loss (gain) on sale of available for sale investment securities | 50 | -1,209 | -1,355 |
Increase in cash surrender value of company-owned life insurance | -926 | -961 | -918 |
Death benefits in excess of cash surrender value on company-owned life insurance | 0 | -529 | 0 |
Decrease in accrued interest receivable | 173 | 545 | 639 |
(Increase) decrease in other assets | -241 | 1,296 | 372 |
Decrease in accrued interest payable | -233 | -1,005 | -1,436 |
Increase in other liabilities | 2,036 | 2,014 | 2,187 |
Net cash provided by operating activities | 24,023 | 28,410 | 28,062 |
Proceeds from maturities and calls of investment securities: | ' | ' | ' |
Available for sale | 123,231 | 219,141 | 191,345 |
Held to maturity | 55 | 55 | 55 |
Proceeds from sale of available for sale investment securities | 2,233 | 135,193 | 201,093 |
Purchases of available for sale investment securities | -190,306 | -333,116 | -538,370 |
Principal collected on loans originated for investment, net | 5,540 | 29,818 | 83,463 |
Proceeds from surrender of company-owned life insurance | 0 | 0 | 2,248 |
Proceeds from death benefits of company-owned life insurance | 0 | 1,051 | 0 |
Purchases of premises and equipment | -3,525 | -1,675 | -2,679 |
Proceeds from sale of other real estate | 9,458 | 12,278 | 9,834 |
Proceeds from disposals of equipment | 28 | 429 | 5 |
Net cash (used in) provided by investing activities | -53,286 | 63,174 | -53,006 |
Cash Flows from Financing Activities | ' | ' | ' |
Net decrease in deposits | -595 | -24,255 | -28,507 |
Net increase (decrease) in federal funds purchased and other short-term borrowings | 5,040 | -2,939 | -20,387 |
Proceeds from securities sold under agreements to repurchase and other long-term borrowings | 754 | 0 | 0 |
Repayments of securities sold under agreements to repurchase and other long-term borrowings | -2,171 | -61,397 | -12,545 |
Dividends paid, preferred | -1,500 | -1,500 | -1,500 |
Repurchase of common stock warrant | 0 | -75 | 0 |
Shares issued under employee stock purchase plan | 133 | 128 | 136 |
Net cash provided by (used in) financing activities | 1,661 | -90,038 | -62,803 |
Net (decrease) increase in cash and cash equivalents | -27,602 | 1,546 | -87,747 |
Cash and cash equivalents at beginning of year | 95,855 | 94,309 | 182,056 |
Cash and cash equivalents at end of year | 68,253 | 95,855 | 94,309 |
Supplemental Disclosures | ' | ' | ' |
Interest | 12,228 | 19,263 | 26,106 |
Income taxes | 6,150 | 3,800 | 2,900 |
Sale and financing of other real estate | 5,711 | 3,358 | 3,195 |
From Loans [Member] | ' | ' | ' |
Supplemental Disclosures | ' | ' | ' |
Transfers to other real estate | 6,110 | 33,913 | 26,586 |
From Premises [Member] | ' | ' | ' |
Supplemental Disclosures | ' | ' | ' |
Transfers to other real estate | $0 | $212 | $0 |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||||||
1. Summary of Significant Accounting Policies | |||||||||||||
The accounting and reporting policies of Farmers Capital Bank Corporation and subsidiaries conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and general practices applicable to the banking industry. Significant accounting policies are summarized below. | |||||||||||||
Principles of Consolidation and Nature of Operations | |||||||||||||
The consolidated financial statements include the accounts of Farmers Capital Bank Corporation (the “Company” or “Parent Company”), a bank holding company, and its bank and nonbank subsidiaries. Bank subsidiaries include Farmers Bank & Capital Trust Company (“Farmers Bank”) in Frankfort, KY, United Bank & Trust Company (“United Bank”) in Versailles, KY, First Citizens Bank (“First Citizens”) in Elizabethtown, KY, and Citizens Bank of Northern Kentucky, Inc. (“Citizens Northern”) in Newport, KY. | |||||||||||||
Farmers Bank’s significant subsidiaries include EG Properties, Inc., Leasing One Corporation (“Leasing One”), and Farmers Capital Insurance Corporation (“Farmers Insurance”). EG Properties, Inc. is involved in real estate management and liquidation for certain repossessed properties of Farmers Bank. Leasing One is a commercial leasing company in Frankfort, KY, and Farmers Insurance is an insurance agency in Frankfort, KY. United Bank has one wholly-owned subsidiary, EGT Properties, Inc. EGT Properties, Inc. is involved in real estate management and liquidation for certain repossessed properties of United Bank. First Citizens has one wholly-owned subsidiary, HBJ Properties, LLC. HBJ Properties, LLC is involved in real estate management and liquidation for certain repossessed properties of First Citizens. Citizens Northern has one wholly-owned subsidiary, ENKY Properties, Inc. ENKY Properties, Inc. is involved in real estate management and liquidation for certain repossessed properties of Citizens Northern. | |||||||||||||
The Company has three active nonbank subsidiaries, FCB Services, Inc. (“FCB Services”), FFKT Insurance Services, Inc. (“FFKT Insurance”), and EKT Properties, Inc. (“EKT”). FCB Services is a data processing subsidiary located in Frankfort, KY that provides services to the Company’s banks as well as unaffiliated entities. FFKT Insurance is a captive property and casualty insurance company insuring primarily deductible exposures and uncovered liability related to properties of the Company. EKT was formed to manage and liquidate certain real estate properties repossessed by the Company. The Company has three subsidiaries organized as Delaware statutory trusts that are not consolidated into its financial statements. These trusts were formed for the purpose of issuing trust preferred securities. All significant intercompany transactions and balances are eliminated in consolidation. | |||||||||||||
The Company provides financial services at its 36 locations in 23 communities throughout Central and Northern Kentucky to individual, business, agriculture, government, and educational customers. Its primary deposit products are checking, savings, and term certificate accounts. Its primary lending products are residential mortgage, commercial lending, and consumer installment loans. Substantially all loans and leases are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans and leases are expected to be repaid from cash flow from operations of businesses. Other services include, but are not limited to, cash management services, issuing letters of credit, safe deposit box rental, and providing funds transfer services. Other financial instruments, which potentially represent concentrations of credit risk, include deposit accounts in other financial institutions and federal funds sold. | |||||||||||||
Use of Estimates | |||||||||||||
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates used in the preparation of the financial statements are based on various factors including the current interest rate environment and the general strength of the local economy. Changes in the overall interest rate environment can significantly affect the Company’s net interest income and the value of its recorded assets and liabilities. Actual results could differ from those estimates used in the preparation of the financial statements. The allowance for loan losses, | |||||||||||||
carrying value of other real estate owned, actuarial assumptions used to calculate postretirement benefits, and the fair values of financial instruments are estimates that are particularly subject to change. | |||||||||||||
Reclassifications | |||||||||||||
Certain amounts in the accompanying consolidated financial statements presented for prior years have been reclassified to conform to the 2013 presentation. These reclassifications do not affect net income or total shareholders’ equity as previously reported. | |||||||||||||
Segment Information | |||||||||||||
The Company provides a broad range of financial services to individuals, corporations, and others through its 36 banking locations throughout Central and Northern Kentucky. These services primarily include the activities of lending, receiving deposits, providing cash management services, safe deposit box rental, and trust activities. While the chief decision-makers monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating segments are aggregated into one as operating results for all segments are similar. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable segment. | |||||||||||||
Cash Flows | |||||||||||||
For purposes of reporting cash flows, cash and cash equivalents include the following: cash on hand, deposits from other financial institutions that have an initial maturity of less than 90 days when acquired by the Company, federal funds sold, and securities purchased under agreements to resell. Generally, federal funds sold and securities purchased under agreements to resell are purchased and sold for one-day periods. Net cash flows are reported for loan, deposit, and short-term borrowing transactions. | |||||||||||||
Investment Securities | |||||||||||||
Investments in debt and equity securities are classified into three categories. Securities that management has the positive intent and ability to hold until maturity are classified as held to maturity. Securities that are bought and held specifically for the purpose of selling them in the near term are classified as trading securities. The Company had no securities classified as trading during 2013, 2012, or 2011. All other securities are classified as available for sale. Securities are designated as available for sale if they might be sold before maturity. Securities classified as available for sale are carried at estimated fair value. Unrealized holding gains and losses for available for sale securities are reported net of deferred income taxes in other comprehensive income. Investments classified as held to maturity are carried at amortized cost. Amortized cost basis for investment securities includes adjustments made to the cost for previous other-than-temporary impairment (“OTTI”) recognized in earnings, amortization, accretion, and collection of cash. | |||||||||||||
Interest income includes amortization and accretion of purchase premiums or discounts. Premiums and discounts on securities are amortized using the interest method over the expected life of the securities without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Realized gains and losses on the sales of securities are recorded on the trade date and computed on the basis of specific identification of the adjusted cost of each security and are included in noninterest income. | |||||||||||||
The Company evaluates investment securities for OTTI at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. A decline in the market value of investment securities below cost that is deemed other-than-temporary results in a charge to earnings and the establishment of a new cost basis for the security. Substantially all of the Company’s investment securities are debt securities. In estimating OTTI for debt securities, management considers each of the following: (1) the length of time and extent to which fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether market decline was affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery in fair value. The assessment of whether an OTTI charge exists involves a high degree of subjectivity and judgment and is based on the information available to the Company at a point in time. | |||||||||||||
Investment securities classified as available for sale or held-to-maturity are generally evaluated for OTTI under Financial Accounting Standard Board (“FASB”) Accounting Standards CodificationTM (“ASC”) Topic 320, “Investments-Debt and Equity Securities.” In determining OTTI under ASC Topic 320 the Company considers many factors, including those enumerated above. When OTTI occurs, the amount of the OTTI recognized in earnings depends on whether the Company intends to sell the security or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. If the Company intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, OTTI is recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If the Company does not intend to sell the security and it is not more likely than not that it will be required to sell the security before recovery of its amortized cost basis, OTTI is separated into the amount representing the credit loss and the amount related to all other factors. The amount of the total OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected and is recognized in earnings. The amount of the total OTTI related to other factors is recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less OTTI recognized in earnings becomes the new amortized cost basis of the investment. | |||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | |||||||||||||
Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank stock is carried at cost on the consolidated balance sheets under the caption “Other assets.” These stocks are classified as restricted securities and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. The amount outstanding at December 31, 2013 and 2012 was $9.5 million. | |||||||||||||
Loans and Interest Income | |||||||||||||
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are reported at their unpaid principal amount outstanding adjusted for any charge-offs and deferred fees or costs on originated loans. Interest income on loans is recognized using the interest method based on loan principal amounts outstanding during the period. Interest income also includes amortization and accretion of any premiums or discounts over the expected life of acquired loans at the time of purchase or business acquisition. Loan origination fees, net of certain direct origination costs, are deferred and amortized as yield adjustments over the contractual term of the loans. | |||||||||||||
The Company disaggregates certain disclosure information related to loans, the related allowance for loan losses, and credit quality measures by either portfolio segment or by loan class. The Company segregates its loan portfolio segments based on similar risk characteristics as follows: real estate loans, commercial loans, and consumer loans. Portfolio segments are further disaggregated into classes for certain required disclosures as follows: | |||||||||||||
Portfolio Segment | Class | ||||||||||||
Real estate loans | Real estate mortgage - construction and land development | ||||||||||||
Real estate mortgage - residential | |||||||||||||
Real estate mortgage - farmland and other commercial enterprises | |||||||||||||
Commercial loans | Commercial and industrial | ||||||||||||
Depository institutions | |||||||||||||
Agriculture production and other loans to farmers | |||||||||||||
States and political subdivisions | |||||||||||||
Leases | |||||||||||||
Other | |||||||||||||
Consumer loans | Secured | ||||||||||||
Unsecured | |||||||||||||
Loan disclosures include presenting certain disaggregated information based on recorded investment. The recorded investment in a loan includes its principal amount outstanding adjusted for certain items that include net deferred loan costs or fees, unamortized premiums or discounts, charge offs, and accrued interest. The Company had a total of $492 thousand and $574 thousand of net deferred loan costs at year-end 2013 and 2012, respectively, included in the carrying | |||||||||||||
amount of loans on the balance sheet, which represents .05% and .06% of average loans outstanding for 2013 and 2012. The amount of net deferred loans costs are not material and are omitted from the computation of the recorded investment included in Note 3 that follows. Similarly, accrued interest receivable on loans was $3.4 million and $3.7 million at year-end 2013 and 2012, respectively, or .3% and .4% of average loans outstanding and has also been omitted from certain information presented in Note 3. | |||||||||||||
The Company has a loan policy in place that is amended and approved from time to time as needed to reflect current economic conditions and product offerings in its markets. The policy establishes written procedures concerning areas such as the lending authorities of loan officers, committee review and approval of certain credit requests, underwriting criteria, policy exceptions, appraisal requirements, and loan review. Credit is extended to borrowers based primarily on their ability to repay as demonstrated by income and cash flow analysis. | |||||||||||||
Loans secured by real estate make up the largest segment of the Company’s loan portfolio. If a borrower fails to repay a loan secured by real estate, the Company may liquidate the collateral in order to satisfy the amount owed. Determining the value of real estate is a key component to the lending process for real estate backed loans. If the fair value of real estate (less estimated cost to sell) securing a collateral dependent loan declines below the outstanding loan amount, the Company will write down the carrying value of the loan and thereby incur a loss. The Company uses independent third party state certified or licensed appraisers in accordance with its loan policy to mitigate risk when underwriting real estate loans. Cash flow analysis of the borrower, loan to value limits as adopted by loan policy, and other customary underwriting standards are also in place which are designed to maximize credit quality and mitigate risks associated with real estate lending. | |||||||||||||
Commercial loans are made to businesses and are secured mainly by assets such as inventory, accounts receivable, machinery, fixtures and equipment, or other business assets. Commercial lending involves significant risk, as loan repayments are more dependent on the successful operation or management of the business and its cash flows. Consumer lending includes loans to individuals mainly for personal autos, boats, or a variety of other personal uses and may be secured or unsecured. Loan repayment associated with consumer loans is highly dependent upon the borrower’s continuing financial stability, which is heavily influenced by local unemployment rates. The Company mitigates its risk exposure to each of its loan segments by analyzing the borrower’s repayment capacity, imposing restrictions on the amount it will loan compared to estimated collateral values, limiting the payback periods, and following other customary underwriting practices as adopted in its loan policy. | |||||||||||||
The accrual of interest on loans is discontinued when it is determined that the collection of interest or principal is doubtful, or when a default of interest or principal has existed for 90 days or more, unless such loan is well secured and in the process of collection. Past due status is based on the contractual terms of the loan. Interest accrued but not received for a loan placed on nonaccrual status is reversed against interest income. Cash payments received on nonaccrual loans generally are applied to principal until qualifying for return to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The Company’s policy for placing a loan on nonaccrual status or subsequently returning a loan to accrual status does not differ based on its portfolio class or segment. | |||||||||||||
Commercial and real estate loans delinquent in excess of 120 days and consumer loans delinquent in excess of 180 days are charged off, unless the collateral securing the debt is of such value that any loss appears to be unlikely. In all cases, loans are charged off at an earlier date if classified as loss under its loan grading process or as a result of regulatory examination. The Company’s charge-off policy for impaired loans does not differ from the charge-off policy for loans outside the definition of impaired. | |||||||||||||
Loans Held for Sale | |||||||||||||
The Company’s operations include a limited amount of mortgage banking. Mortgage banking activities include the origination of fixed-rate residential mortgage loans for sale to various third-party investors. Mortgage loans originated and intended for sale in the secondary market, principally under programs with the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, and other commercial lending institutions are carried at the lower of cost or estimated fair value determined in the aggregate and included in net loans on the balance sheet until sold. | |||||||||||||
These loans are sold with the related servicing rights either retained or released by the Company depending on the economic conditions present at the time of origination. Mortgage loans held for sale included in net loans totaled $4.1 million and $2.5 million at December 31, 2013 and December 31, 2012, respectively. Mortgage banking revenues, including origination fees, servicing fees, net gains on sales of mortgage loans, and other fee income were 1.6%, 2.4%, and 1.28% of the Company’s total revenue for the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||||
Provision and Allowance for Loan Losses | |||||||||||||
The provision for loan losses represents charges or credits made to earnings to maintain an allowance for loan losses at a level considered adequate to provide for probable incurred credit losses at the balance sheet date. The allowance for loan losses is a valuation allowance increased by the provision for loan losses and decreased by net charge-offs. Loan losses are charged against the allowance when management believes the uncollectibility of a loan is confirmed. Subsequent recoveries, if any, are credited to the allowance. | |||||||||||||
The Company estimates the adequacy of the allowance using a risk-rated methodology which is based on the Company’s past loan loss experience, known and inherent risks in the loan portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral securing loans, composition of the loan portfolio, current economic conditions, and other relevant factors. This evaluation is inherently subjective as it requires significant judgment and the use of estimates that may be susceptible to change. | |||||||||||||
The allowance for loan losses consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for current risk factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. Actual loan losses could differ significantly from the amounts estimated by management. | |||||||||||||
The Company’s risk-rated methodology includes segregating non-impaired watch list and past due loans from the general portfolio and allocating a loss percentage to these loans depending on their status. For example, watch list loans, which may be identified by the internal loan review risk-rating process or by regulatory examiner classification, are assigned a certain loss percentage while loans past due 30 days or more are assigned a different loss percentage. Each of these percentages considers past experience as well as current factors. The remainder of the general loan portfolio is segregated into portfolio segments having similar risk characteristics identified as follows: real estate loans, commercial loans, and consumer loans. Each of these portfolio segments is assigned a loss percentage based on their respective rolling historical loss rates, adjusted for qualitative risk factors. During the third quarter of 2013, the Company lengthened the look-back period it uses to determine historical loss rates to the previous 16 quarters from 12 quarters. The change in the look-back period is the result of the Company’s ongoing monitoring and evaluation of the adequacy of its allowance for loan losses. The longer look-back period better reflects the Company’s loss estimates based on current market conditions. Lengthening the look-back period resulted in a $320 thousand increase in the allowance for loan losses. | |||||||||||||
The qualitative risk factors used in the methodology are consistent with the guidance in the most recent Interagency Policy Statement on the Allowance for Loan Losses issued. Each factor is supported by a detailed analysis performed at each subsidiary bank and is both measureable and supportable. Some factors include a minimum allocation in some instances where loss levels are extremely low and it is determined to be prudent from a safety and soundness perspective. Qualitative risk factors that are used in the methodology include the following for each loan portfolio segment: | |||||||||||||
● | Delinquency trends | ||||||||||||
● | Trends in net charge-offs | ||||||||||||
● | Trends in loan volume | ||||||||||||
● | Lending philosophy risk | ||||||||||||
● | Management experience risk | ||||||||||||
● | Concentration of credit risk | ||||||||||||
● | Economic conditions risk | ||||||||||||
A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. | |||||||||||||
The Company accounts for impaired loans in accordance with ASC Topic 310, “Receivables.” ASC Topic 310 requires that impaired loans be measured at the present value of expected future cash flows, discounted at the loan’s effective interest rate, at the loan’s observable market price, or at the fair value of the collateral if the loan is collateral dependent. Impaired loans may also be classified as nonaccrual. In many circumstances, however, the Company continues to accrue interest on an impaired loan. Cash receipts on accruing impaired loans are applied to the recorded investment in the loan, including any accrued interest receivable. Cash payments received on nonaccrual impaired loans generally are applied to principal until qualifying for return to accrual status. Loans that are part of a large group of smaller-balance homogeneous loans, such as residential mortgage, consumer, and smaller-balance commercial loans, are collectively evaluated for impairment. Troubled debt restructurings are measured at the present value of estimated future cash flows using the loan’s effective interest rate at inception, or at the fair value of collateral. The Company determines the amount of reserve for troubled debt restructurings that subsequently default in accordance with its accounting policy for the allowance for loan losses. | |||||||||||||
Mortgage Servicing Rights | |||||||||||||
Mortgage servicing rights are recognized in other assets on the Company’s consolidated balance sheet at their initial fair value on loans sold with servicing retained. Fair value is based on market prices for comparable mortgage servicing contracts when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. Mortgage servicing rights are subsequently measured using the amortization method in which the mortgage servicing right is expensed in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Impairment is evaluated based on the fair value of the rights, grouping the underlying loans by interest rates. Impairment of a grouping is reported as a valuation allowance. Capitalized mortgage servicing rights were $785 thousand and $795 thousand at December 31, 2013 and 2012, respectively. No impairment of the asset was determined to exist on either of these dates. Mortgage loans serviced for others totaled $200 million and $172 million at December 31, 2013 and 2012, respectively. Mortgage loans serviced for others are not included in the Company’s balance sheets. | |||||||||||||
Fair Value of Financial Instruments | |||||||||||||
Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 18. 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 the estimates. | |||||||||||||
Loan Commitments and Related Financial Instruments | |||||||||||||
Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, which are issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. | |||||||||||||
Intangible Assets | |||||||||||||
Intangible assets consist of core deposit and customer relationship intangible assets arising from business acquisitions. Intangible assets are initially measured at fair value and then amortized on an accelerated method over their estimated | |||||||||||||
useful lives, which range between seven and 10 years. Such assets are evaluated for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. | |||||||||||||
Other Real Estate Owned | |||||||||||||
Other real estate owned (“OREO”) and held for sale in the accompanying consolidated balance sheets includes properties acquired by the Company through, or in lieu of, actual loan foreclosures. OREO is initially carried at fair value less estimated costs to sell. Fair value of assets is generally based on third party appraisals of the property that includes comparable sales data. If the carrying amount exceeds fair value less estimated costs to sell, an impairment loss is recorded through expense. These assets are subsequently accounted for at the lower of carrying amount or fair value less estimated costs to sell. Operating costs after acquisition are expensed. | |||||||||||||
Income Taxes | |||||||||||||
Income tax expense is the total of current year income tax due or refundable and the change in deferred tax assets and liabilities, except for the deferred tax assets and liabilities related to business combinations or components of other comprehensive income. Deferred income tax assets and liabilities result from temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements that will result in taxable or deductible amounts in future years. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in years in which those temporary differences are expected to be recovered or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through income tax expense. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. | |||||||||||||
A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. | |||||||||||||
The Company files a consolidated federal income tax return with its subsidiaries. Federal income tax expense or benefit has been allocated to subsidiaries on a separate return basis. The Company’s policy is to record the accrual of interest and/or penalties relative to income tax matters, if any, in income tax expense. | |||||||||||||
Premises and Equipment | |||||||||||||
Premises, equipment, and leasehold improvements are stated at cost less accumulated depreciation and amortization. Depreciation is computed primarily on the straight-line method over the estimated useful lives generally ranging from two to seven years for furniture and equipment and generally ten to 40 years for buildings and related components. Leasehold improvements are amortized over the shorter of the estimated useful lives or terms of the related leases on the straight-line method. Maintenance, repairs, and minor improvements are charged to operating expenses as incurred and major improvements are capitalized. The cost of assets sold or retired and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is included in noninterest income. Land is carried at cost. | |||||||||||||
Company-owned Life Insurance | |||||||||||||
The Company has purchased life insurance policies on certain key employees with their knowledge and written consent. Company-owned life insurance is recorded on the consolidated balance sheet at its cash surrender value, which is the amount that can be realized under the insurance contract at the balance sheet date. The related change in cash surrender value and proceeds received under the policies are reported on the consolidated statements of income under the caption “Income from company-owned life insurance.” | |||||||||||||
Related Party Transactions | |||||||||||||
In the ordinary course of business, the Company offers loan and deposit products to its directors, executive officers, and principal shareholders - including affiliated companies of which they are principal owners (“Related Parties”). These products are offered on substantially the same terms as those prevailing at the time for comparable transactions with unrelated parties, and these receivables and deposits are included in loans and deposits in the Company’s consolidated balance sheets. Additional information related to these transactions can be found in Note 3 and Note 6. | |||||||||||||
The Company makes payments to Related Parties in the normal course of business for various services, primarily related to legal fees. For example, certain directors of the Parent Company and its subsidiary banks are partners in law firms that act as counsel to the Company. The following table represents the amount and type of payments to Related Parties, other than director fees, for the periods indicated: | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Years Ended December 31, | |||||||||||||
Legal fees | $ | 169 | $ | 445 | $ | 310 | |||||||
Commissions and fees related to the sale of repossessed commercial real estate and property management | 9 | 140 | - | ||||||||||
Insurance commissions | 8 | 24 | 28 | ||||||||||
Premises rental | - | - | 3 | ||||||||||
Other | 6 | - | 8 | ||||||||||
Total | $ | 192 | $ | 609 | $ | 349 | |||||||
Retirement Plans | |||||||||||||
The Company maintains a 401(k) salary savings plan and records expense based on the amount of its matching contributions of employee deferrals. The Company also has a nonqualified supplemental retirement plan for certain key employees that it acquired in connection with the Citizens Northern acquisition. Supplemental retirement plan expense allocates the benefits over years of service. | |||||||||||||
Net Income Per Common Share | |||||||||||||
Basic net income per common share is determined by dividing net income available to common shareholders by the weighted average total number of common shares issued and outstanding. Net income available to common shareholders represents net income adjusted for preferred stock dividends including dividends declared, accretion of discounts on preferred stock issuances, and cumulative dividends related to the current dividend period that have not been declared as of the end of the period. | |||||||||||||
Diluted net income per common share is determined by dividing net income available to common shareholders by the total weighted average number of common shares issued and outstanding plus amounts representing the dilutive effect of stock options outstanding and outstanding warrants. The effects of stock options and outstanding warrants are excluded from the computation of diluted earnings per common share in periods in which the effect would be antidilutive. Dilutive potential common shares are calculated using the treasury stock method. | |||||||||||||
Net income per common share computations were as follows for the years ended December 31, 2013, 2012, and 2011. | |||||||||||||
(In thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Years Ended December 31, | |||||||||||||
Net income, basic and diluted | $ | 13,446 | $ | 12,149 | $ | 2,738 | |||||||
Less preferred stock dividends and discount accretion | 1,951 | 1,922 | 1,896 | ||||||||||
Net income available to common shareholders, basic and diluted | $ | 11,495 | $ | 10,227 | $ | 842 | |||||||
Average common shares outstanding, basic and diluted | 7,474 | 7,457 | 7,424 | ||||||||||
Net income per common share, basic and diluted | $ | 1.54 | $ | 1.37 | $ | 0.11 | |||||||
Stock options for 22,049, 24,049, and 24,049 shares of common stock were not included in the determination of diluted net income per common share for 2013, 2012, and 2011, respectively, because they were antidilutive. There were 223,992 potential common shares associated with a warrant issued to the U.S. Treasury that were excluded from the computation of diluted net income per common share for 2011 because they were antidilutive. The Company repurchased the warrant from the Treasury during the third quarter of 2012. | |||||||||||||
Comprehensive Income | |||||||||||||
Comprehensive income is defined as the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from nonowner sources. For the Company this includes net income, the after tax effect of changes in the net unrealized gains and losses on available for sale investment securities, and the after tax changes to the funded status of postretirement benefit plans. | |||||||||||||
Dividend Restrictions | |||||||||||||
Banking regulations require maintaining certain capital levels which limit the amount of dividends paid to the Company by its bank subsidiaries. In addition, the Parent Company and two of its subsidiary banks must obtain regulatory approval to pay dividends as a result of agreements entered into related to recent examinations. Refer to Note 17 for additional information. | |||||||||||||
Restrictions on Cash | |||||||||||||
The Company is required to maintain funds in cash and/or on deposit with the Federal Reserve Bank in accordance with reserve requirements specified by the Federal Reserve Board of Governors. The required reserve was $19.9 million and $17.0 million at December 31, 2013 and 2012, respectively. | |||||||||||||
Equity | |||||||||||||
Outstanding common shares purchased by the Company are retired. When common shares are purchased, the Company allocates a portion of the purchase price of the common shares that are retired to each of the following balance sheet line items: common stock, capital surplus, and retained earnings. The Company did not purchase any of its outstanding common shares during 2013 or 2012. | |||||||||||||
Trust Assets | |||||||||||||
Assets of the Company’s trust departments, other than cash on deposit at subsidiary banks, are not included in the accompanying financial statements because they are not assets of the Company. | |||||||||||||
Transfers of Financial Assets | |||||||||||||
Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. | |||||||||||||
Long-term Assets | |||||||||||||
Premises and equipment, core deposit and other intangible assets, and other long-term assets are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. | |||||||||||||
Stock-Based Compensation | |||||||||||||
The Company recognizes compensation cost for its Employee Stock Purchase Plan (“ESPP”) and for stock options granted based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of ESPP and stock option awards. Compensation cost is recognized over the required service period, generally defined as the vesting period, on a straight-line basis. There have been no stock options granted by the Company since 2004, and all outstanding options are vested. | |||||||||||||
The ESPP was approved by the Company’s shareholders in 2004. The purpose of the ESPP is to provide a means by which eligible employees may purchase, at a discount, shares of the Company’s common stock through payroll withholding. The purchase price of the shares is equal to 85% of their fair market value on specified dates as defined in the plan. The ESPP was effective beginning July 1, 2004. There were 8,893, 23,368, and 34,769 shares issued under the plan during 2013, 2012, and 2011, respectively. Compensation expense related to the ESPP included in the accompanying statements of income was $36 thousand, $36 thousand, and $42 thousand in 2013, 2012, and 2011, respectively. | |||||||||||||
Following are the weighted average assumptions used and estimated fair market value for the ESPP, which is considered a compensatory plan under ASC Topic 718, “Compensation-Stock Compensation.” | |||||||||||||
ESPP | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected volatility | 45.7 | % | 53.5 | % | 65.2 | % | |||||||
Dividend yield | - | - | - | ||||||||||
Risk-free interest rate | 0.06 | 0.07 | 0.06 | ||||||||||
Expected life (in years) | 0.25 | 0.25 | 0.25 | ||||||||||
Fair value | $ | 4.01 | $ | 1.54 | $ | 1.19 | |||||||
Adoption of New Accounting Standards | |||||||||||||
Effective January 1, 2013, the Company adopted Accounting Standards Update (“ASU”) 2013-02, Comprehensive Income (Topic 220) – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This ASU requires additional disclosure about the changes in the components of accumulated other comprehensive income, including amounts reclassified and amounts due to current period other comprehensive income. The following table presents changes in accumulated other comprehensive income by component, net of tax, for the period indicated. | |||||||||||||
(In thousands) | Unrealized Gains and Losses on Available for Sale Investment Securities | Postretirement Benefit Obligation | Total | ||||||||||
Year Ended December 31, 2013 | |||||||||||||
Beginning balance | $ | 9,411 | $ | (2,542 | ) | $ | 6,869 | ||||||
Other comprehensive (loss) income before reclassifications | (12,992 | ) | 2,778 | (10,214 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive income | (42 | ) | 175 | 133 | |||||||||
Net current-period other comprehensive (loss) income | (13,034 | ) | 2,953 | (10,081 | ) | ||||||||
Ending balance | $ | (3,623 | ) | $ | 411 | $ | (3,212 | ) | |||||
The following table presents amounts reclassified out of accumulated other comprehensive income by component for the period indicated. Line items in the statement of income affected by the reclassification are also presented. | |||||||||||||
(In thousands) | Amount Reclassified from Accumulated Other Comprehensive Income | Affected Line Item in the | |||||||||||
Year Ended December 31, 2013 | Statement Where Net Income is Presented | ||||||||||||
Unrealized gains and losses on available for sale investment securities | $ | 65 | Investment securities gains, net | ||||||||||
(23 | ) | Income tax expense | |||||||||||
$ | 42 | Net of tax | |||||||||||
Amortization related to postretirement benefits | |||||||||||||
Prior service costs | $ | (257 | ) | Salaries and employee benefits | |||||||||
Actuarial losses | (12 | ) | Salaries and employee benefits | ||||||||||
(269 | ) | Total before tax | |||||||||||
94 | Income tax benefit | ||||||||||||
$ | (175 | ) | Net of tax | ||||||||||
Total reclassifications for the period | $ | (133 | ) | Net of tax | |||||||||
Note_2_Investment_Securities
Note 2 - Investment Securities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | ||||||||||||||||||||||||
2. Investment Securities | |||||||||||||||||||||||||
The following tables summarize the amortized cost and estimated fair values of the securities portfolio at December 31, 2013 and 2012 and the corresponding amounts of gross unrealized gains and losses. The summary is divided into available for sale and held to maturity securities. | |||||||||||||||||||||||||
December 31, 2013 (In thousands) | Amortized | Gross Unrealized | Gross Unrealized | Estimated | |||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
Available For Sale | |||||||||||||||||||||||||
Obligations of U.S. government-sponsored entities | $ | 96,750 | $ | 155 | $ | 3,155 | $ | 93,750 | |||||||||||||||||
Obligations of states and political subdivisions | 132,311 | 2,056 | 2,397 | 131,970 | |||||||||||||||||||||
Mortgage-backed securities – residential | 379,238 | 5,071 | 6,232 | 378,077 | |||||||||||||||||||||
Mortgage-backed securities – commercial | 748 | - | 59 | 689 | |||||||||||||||||||||
Corporate debt securities | 7,266 | 40 | 1,049 | 6,257 | |||||||||||||||||||||
Mutual funds and equity securities | 2,082 | 15 | 20 | 2,077 | |||||||||||||||||||||
Total securities – available for sale | $ | 618,395 | $ | 7,337 | $ | 12,912 | $ | 612,820 | |||||||||||||||||
Held To Maturity | |||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 765 | $ | 62 | $ | - | $ | 827 | |||||||||||||||||
December 31, 2012 (In thousands) | Amortized | Gross Unrealized | Gross Unrealized | Estimated | |||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
Available For Sale | |||||||||||||||||||||||||
Obligations of U.S. government-sponsored entities | $ | 75,945 | $ | 216 | $ | 66 | $ | 76,095 | |||||||||||||||||
Obligations of states and political subdivisions | 113,986 | 4,943 | 174 | 118,755 | |||||||||||||||||||||
Mortgage-backed securities – residential | 360,099 | 10,596 | 256 | 370,439 | |||||||||||||||||||||
Corporate debt securities | 6,638 | 44 | 856 | 5,826 | |||||||||||||||||||||
Mutual funds and equity securities | 1,962 | 33 | 2 | 1,993 | |||||||||||||||||||||
Total securities – available for sale | $ | 558,630 | $ | 15,832 | $ | 1,354 | $ | 573,108 | |||||||||||||||||
Held To Maturity | |||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 820 | $ | 136 | $ | - | $ | 956 | |||||||||||||||||
At year-end 2013 and 2012, the Company held no investment securities of any single issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of shareholders’ equity. | |||||||||||||||||||||||||
The amortized cost and estimated fair value of the securities portfolio at December 31, 2013, by contractual maturity, are detailed below. The summary is divided into available for sale and held to maturity securities. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Mutual funds and equity securities in the available for sale portfolio at December 31, 2013 consist of investments by the Company’s captive insurance subsidiary. These securities have no stated maturity and are not included in the maturity schedule that follows. | |||||||||||||||||||||||||
Mortgage-backed securities are stated separately due to the nature of payment and prepayment characteristics of these securities, as principal is not due at a single date. | |||||||||||||||||||||||||
Available For Sale | Held To Maturity | ||||||||||||||||||||||||
December 31, 2013 (In thousands) | Amortized | Estimated | Amortized | Estimated | |||||||||||||||||||||
Cost | Fair Value | Cost | Fair Value | ||||||||||||||||||||||
Due in one year or less | $ | 3,357 | $ | 3,367 | $ | - | $ | - | |||||||||||||||||
Due after one year through five years | 115,652 | 115,449 | - | - | |||||||||||||||||||||
Due after five years through ten years | 100,109 | 97,321 | 765 | 827 | |||||||||||||||||||||
Due after ten years | 17,209 | 15,840 | - | - | |||||||||||||||||||||
Mortgage-backed securities | 379,986 | 378,766 | - | - | |||||||||||||||||||||
Total | $ | 616,313 | $ | 610,743 | $ | 765 | $ | 827 | |||||||||||||||||
Gross realized gains and losses on the sale of available for sale investment securities were as follows for the year indicated. | |||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Gross realized gains | $ | 14 | $ | 1,349 | $ | 1,529 | |||||||||||||||||||
Gross realized losses | 64 | 140 | 174 | ||||||||||||||||||||||
Net realized (loss) gain | $ | (50 | ) | $ | 1,209 | $ | 1,355 | ||||||||||||||||||
Income tax (benefit) provision related to net realized (loss) gain | $ | (18 | ) | $ | 423 | $ | 474 | ||||||||||||||||||
Investment securities with a carrying value of $277 million and $285 million at December 31, 2013 and 2012 were pledged to secure public and trust deposits, repurchase agreements, and for other purposes. | |||||||||||||||||||||||||
Investment securities with unrealized losses at year-end 2013 and 2012 not recognized in income are presented in the tables below. The tables segregate investment securities that have been in a continuous unrealized loss position for less than twelve months from those that have been in a continuous unrealized loss position for twelve months or more. The table also includes the fair value of the related securities. | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
December 31, 2013 (In thousands) | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
Obligations of U.S. government-sponsored entities | $ | 65,094 | $ | 2,434 | $ | 11,830 | $ | 721 | $ | 76,924 | $ | 3,155 | |||||||||||||
Obligations of states and political subdivisions | 48,715 | 1,594 | 15,095 | 803 | 63,810 | 2,397 | |||||||||||||||||||
Mortgage-backed securities – residential | 219,032 | 5,199 | 16,306 | 1,033 | 235,338 | 6,232 | |||||||||||||||||||
Mortgage-backed securities – commercial | 689 | 59 | - | - | 689 | 59 | |||||||||||||||||||
Corporate debt securities | 80 | - | 4,816 | 1,049 | 4,896 | 1,049 | |||||||||||||||||||
Mutual funds and equity securities | 716 | 17 | 22 | 3 | 738 | 20 | |||||||||||||||||||
Total | $ | 334,326 | $ | 9,303 | $ | 48,069 | $ | 3,609 | $ | 382,395 | $ | 12,912 | |||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
December 31, 2012 (In thousands) | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
Obligations of U.S. government-sponsored entities | $ | 26,433 | $ | 66 | $ | - | $ | - | $ | 26,433 | $ | 66 | |||||||||||||
Obligations of states and political subdivisions | 17,199 | 174 | - | - | 17,199 | 174 | |||||||||||||||||||
Mortgage-backed securities – residential | 39,659 | 256 | - | - | 39,659 | 256 | |||||||||||||||||||
Corporate debt securities | - | - | 4,994 | 856 | 4,994 | 856 | |||||||||||||||||||
Mutual funds and equity securities | 299 | 2 | - | - | 299 | 2 | |||||||||||||||||||
Total | $ | 83,590 | $ | 498 | $ | 4,994 | $ | 856 | $ | 88,584 | $ | 1,354 | |||||||||||||
Unrealized losses included in the tables above have not been recognized in income since they have been identified as temporary. The Company evaluates investment securities for other-than-temporary impairment at least quarterly, and more frequently when economic or market conditions warrant. Many factors are considered, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was effected by macroeconomic conditions, and (4) whether the Company has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an OTTI charge exists involves a high degree of subjectivity and judgment and is based on the information available to the Company at a point in time. | |||||||||||||||||||||||||
At December 31, 2013, the Company’s investment securities portfolio had gross unrealized losses of $12.9 million, an increase of $11.6 million compared to year-end 2012. Of the total gross unrealized losses at December 31, 2013, $3.6 million or 28.0% relates to investments that have been in a continuous loss position for 12 months or more. Unrealized losses on corporate debt securities and mortgage-backed securities each make up $1.0 million of the total unrealized loss on investment securities in a continuous loss position of 12 months or more. | |||||||||||||||||||||||||
Corporate debt securities in the Company’s investment securities portfolio at December 31, 2013 include single-issuer trust preferred capital securities with a carrying value of $4.8 million. These securities were issued by a national and global financial services firm and were purchased by the Company during 2007. The securities are currently performing and continue to be rated as investment grade by major rating agencies. The issuer of the securities announced in the first quarter of 2013 that it had passed stringent regulatory stress testing and received regulatory approval to both increase per share common dividend payments and increase its equity repurchase program. The Company does not intend to sell these | |||||||||||||||||||||||||
securities nor does it believe it is likely that it will be required to sell these securities prior to their anticipated recovery. The Company believes these securities are not impared due to reasons of credit quality or other factors, but rather the unrealized loss is primarily attributed to continuing uncertainties in both international and domestic economies and market volatility. The Company believes that it will collect all amounts due according to the contractual terms of these securities and that the fair values of these securities will recover as they approach their maturity dates. | |||||||||||||||||||||||||
The Company attributes the unrealized losses in other sectors of its investment securities portfolio to changes in market interest rates and volatility. Market interest rates rose sharply during the second and fourth quarters of 2013 as measured by the yields on Treasury bonds, particularly for the longer dated maturity periods. Investment securities with unrealized losses at December 31, 2013 are performing according to their contractual terms, and the Company does not expect to incur a loss on these securities unless they are sold prior to maturity. The Company does not have the intent to sell these securities nor does it believe it is likely that it will be required to sell these securities prior to their anticipated recovery. The Company does not consider any of the securities to be impaired due to reasons of credit quality or other factors. |
Note_3_Loans_and_Allowance_for
Note 3 - Loans and Allowance for Loan Losses | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Financing Receivables [Text Block] | ' | ||||||||||||||||||||||||||||||||
3. Loans and Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Major classifications of loans are summarized in the following table. | |||||||||||||||||||||||||||||||||
December 31, (In thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 101,352 | $ | 102,454 | |||||||||||||||||||||||||||||
Real estate mortgage – residential | 371,582 | 368,762 | |||||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 418,147 | 425,477 | |||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and industrial | 47,426 | 46,812 | |||||||||||||||||||||||||||||||
States and political subdivisions | 21,561 | 21,472 | |||||||||||||||||||||||||||||||
Lease financing | 902 | 2,732 | |||||||||||||||||||||||||||||||
Other | 23,840 | 19,156 | |||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Secured | 8,579 | 11,732 | |||||||||||||||||||||||||||||||
Unsecured | 6,513 | 6,515 | |||||||||||||||||||||||||||||||
Total loans | 999,902 | 1,005,112 | |||||||||||||||||||||||||||||||
Less unearned income | 19 | 117 | |||||||||||||||||||||||||||||||
Total loans, net of unearned income | $ | 999,883 | $ | 1,004,995 | |||||||||||||||||||||||||||||
Loans with a carrying value of $484 million and $466 million at December 31, 2013 and December 31, 2012, respectively, were pledged to secure borrowings and lines of credit. Such borrowings primarily include FHLB advances and short-term borrowing arrangements with the Federal Reserve. | |||||||||||||||||||||||||||||||||
Loans to directors, executive officers, and principal shareholders of the Parent Company and its subsidiaries (including loans to affiliated companies of which they are principal owners) and loans to members of the immediate family of such persons were $18.1 million at December 31, 2013. Such loans were made in the normal course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other customers and did not involve more than the normal risk of collectability. An analysis of the activity with respect to these loans is presented in the table below. | |||||||||||||||||||||||||||||||||
(In thousands) | Amount | ||||||||||||||||||||||||||||||||
Balance at December 31, 2012 | $ | 19,987 | |||||||||||||||||||||||||||||||
New loans | 5,170 | ||||||||||||||||||||||||||||||||
Repayments | (6,434 | ) | |||||||||||||||||||||||||||||||
Loans no longer meeting disclosure requirements, new loans meeting disclosure requirements, and other adjustments, net | (658 | ) | |||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 18,065 | |||||||||||||||||||||||||||||||
Activity in the allowance for loan losses by portfolio segment was as follows for each of the three years in the period ended December 31, 2013: | |||||||||||||||||||||||||||||||||
(In thousands) | Real Estate | Commercial | Consumer | Total | |||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 22,254 | $ | 1,513 | $ | 678 | $ | 24,445 | |||||||||||||||||||||||||
Provision for loan losses | (2,432 | ) | (2 | ) | (166 | ) | (2,600 | ) | |||||||||||||||||||||||||
Recoveries | 327 | 155 | 221 | 703 | |||||||||||||||||||||||||||||
Loans charged off | (1,433 | ) | (257 | ) | (281 | ) | (1,971 | ) | |||||||||||||||||||||||||
Balance at end of period | $ | 18,716 | $ | 1,409 | $ | 452 | $ | 20,577 | |||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 23,538 | $ | 3,508 | $ | 1,218 | $ | 28,264 | |||||||||||||||||||||||||
Provision for loan losses | 4,930 | (1,825 | ) | (333 | ) | 2,772 | |||||||||||||||||||||||||||
Recoveries | 666 | 145 | 234 | 1,045 | |||||||||||||||||||||||||||||
Loans charged off | (6,880 | ) | (315 | ) | (441 | ) | (7,636 | ) | |||||||||||||||||||||||||
Balance at end of period | $ | 22,254 | $ | 1,513 | $ | 678 | $ | 24,445 | |||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 24,527 | $ | 3,260 | $ | 997 | $ | 28,784 | |||||||||||||||||||||||||
Provision for loan losses | 12,548 | 511 | 428 | 13,487 | |||||||||||||||||||||||||||||
Recoveries | 241 | 860 | 245 | 1,346 | |||||||||||||||||||||||||||||
Loans charged off | (13,778 | ) | (1,123 | ) | (452 | ) | (15,353 | ) | |||||||||||||||||||||||||
Balance at end of period | $ | 23,538 | $ | 3,508 | $ | 1,218 | $ | 28,264 | |||||||||||||||||||||||||
The following tables present individually impaired loans by class of loans for the dates indicated. | |||||||||||||||||||||||||||||||||
As of and for the Year Ended December 31, 2013 | Unpaid | Recorded | Recorded | Total Recorded Investment | Allowance for | Average | Interest Income Recognized | Cash Basis Interest Recognized | |||||||||||||||||||||||||
(In thousands) | Principal | Investment With No Allowance | Investment With Allowance | Loan Losses | |||||||||||||||||||||||||||||
Balance | Allocated | ||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 17,234 | $ | 9,742 | $ | 4,699 | $ | 14,441 | $ | 930 | $ | 17,314 | $ | 509 | $ | 461 | |||||||||||||||||
Real estate mortgage – residential | 11,595 | 2,871 | 8,612 | 11,483 | 1,443 | 12,727 | 460 | 445 | |||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 32,102 | 12,262 | 19,746 | 32,008 | 1,443 | 32,785 | 1,546 | 1,519 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Commercial and industrial | 311 | 24 | 293 | 317 | 200 | 994 | 40 | 40 | |||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Secured | 18 | - | 18 | 18 | 15 | 19 | 1 | 1 | |||||||||||||||||||||||||
Unsecured | 71 | - | 72 | 72 | 71 | 147 | 9 | 9 | |||||||||||||||||||||||||
Total | $ | 61,331 | $ | 24,899 | $ | 33,440 | $ | 58,339 | $ | 4,102 | $ | 63,986 | $ | 2,565 | $ | 2,475 | |||||||||||||||||
As of and for the Year Ended December 31, 2012 | Unpaid | Recorded | Recorded | Total Recorded Investment | Allowance for | Average | Interest Income Recognized | Cash Basis Interest Recognized | |||||||||||||||||||||||||
(In thousands) | Principal | Investment With No Allowance | Investment With Allowance | Loan Losses | |||||||||||||||||||||||||||||
Balance | Allocated | ||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 26,831 | $ | 12,712 | $ | 11,068 | $ | 23,780 | $ | 2,075 | $ | 34,880 | $ | 871 | $ | 804 | |||||||||||||||||
Real estate mortgage – residential | 7,474 | 2,215 | 5,259 | 7,474 | 1,069 | 13,754 | 333 | 324 | |||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 33,491 | 13,294 | 18,803 | 32,097 | 1,588 | 38,077 | 1,859 | 1,876 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Commercial and industrial | 210 | - | 207 | 207 | 198 | 403 | 17 | 17 | |||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Secured | 21 | - | 21 | 21 | 17 | 66 | 6 | 6 | |||||||||||||||||||||||||
Unsecured | 309 | - | 310 | 310 | 196 | 271 | 17 | 16 | |||||||||||||||||||||||||
Total | $ | 68,336 | $ | 28,221 | $ | 35,668 | $ | 63,889 | $ | 5,143 | $ | 87,451 | $ | 3,103 | $ | 3,043 | |||||||||||||||||
Year Ended December 31, 2011 | Average | Interest Income Recognized | Cash Basis Interest Recognized | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 51,226 | $ | 719 | $ | 716 | |||||||||||||||||||||||||||
Real estate mortgage – residential | 28,732 | 1,282 | 1,271 | ||||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 67,565 | 2,847 | 2,768 | ||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Commercial and industrial | 4,174 | 205 | 164 | ||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Secured | 66 | 6 | 4 | ||||||||||||||||||||||||||||||
Unsecured | 9 | - | - | ||||||||||||||||||||||||||||||
Total | $ | 151,772 | $ | 5,059 | $ | 4,923 | |||||||||||||||||||||||||||
The following tables present the balance of the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
December 31, 2013 (In thousands) | Real Estate | Commercial | Consumer | Total | |||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,816 | $ | 200 | $ | 86 | $ | 4,102 | |||||||||||||||||||||||||
Collectively evaluated for impairment | 14,900 | 1,209 | 366 | 16,475 | |||||||||||||||||||||||||||||
Total ending allowance balance | $ | 18,716 | $ | 1,409 | $ | 452 | $ | 20,577 | |||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 57,932 | $ | 317 | $ | 90 | $ | 58,339 | |||||||||||||||||||||||||
Loans collectively evaluated for impairment | 833,149 | 93,393 | 15,002 | 941,544 | |||||||||||||||||||||||||||||
Total ending loan balance, net of unearned income | $ | 891,081 | $ | 93,710 | $ | 15,092 | $ | 999,883 | |||||||||||||||||||||||||
December 31, 2012 (In thousands) | Real Estate | Commercial | Consumer | Total | |||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,732 | $ | 198 | $ | 213 | $ | 5,143 | |||||||||||||||||||||||||
Collectively evaluated for impairment | 17,522 | 1,315 | 465 | 19,302 | |||||||||||||||||||||||||||||
Total ending allowance balance | $ | 22,254 | $ | 1,513 | $ | 678 | $ | 24,445 | |||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 63,351 | $ | 207 | $ | 331 | $ | 63,889 | |||||||||||||||||||||||||
Loans collectively evaluated for impairment | 833,342 | 89,848 | 17,916 | 941,106 | |||||||||||||||||||||||||||||
Total ending loan balance, net of unearned income | $ | 896,693 | $ | 90,055 | $ | 18,247 | $ | 1,004,995 | |||||||||||||||||||||||||
The following tables present the recorded investment in nonperforming loans by class of loans as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
December 31, 2013 (In thousands) | Nonaccrual | Restructured Loans | Loans Past Due 90 Days or More and Still Accruing | ||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 5,821 | $ | 4,391 | $ | - | |||||||||||||||||||||||||||
Real estate mortgage – residential | 5,154 | 4,826 | 10 | ||||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 12,677 | 16,987 | 434 | ||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and industrial | 160 | - | - | ||||||||||||||||||||||||||||||
Lease financing | 22 | - | - | ||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Secured | 3 | - | - | ||||||||||||||||||||||||||||||
Unsecured | 1 | 51 | - | ||||||||||||||||||||||||||||||
Total | $ | 23,838 | $ | 26,255 | $ | 444 | |||||||||||||||||||||||||||
December 31, 2012 (In thousands) | Nonaccrual | Restructured Loans | Loans Past Due 90 Days or More and Still Accruing | ||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 7,700 | $ | 8,736 | $ | - | |||||||||||||||||||||||||||
Real estate mortgage – residential | 6,025 | 634 | - | ||||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 12,878 | 16,940 | 103 | ||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and industrial | 649 | - | - | ||||||||||||||||||||||||||||||
Lease financing | 53 | - | - | ||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Secured | 9 | - | - | ||||||||||||||||||||||||||||||
Unsecured | 94 | 39 | - | ||||||||||||||||||||||||||||||
Total | $ | 27,408 | $ | 26,349 | $ | 103 | |||||||||||||||||||||||||||
The Company has allocated $2.7 million and $2.9 million of specific reserves to customers whose loan terms have been modified in troubled debt restructurings and that are in compliance with those terms as of December 31, 2013 and 2012, respectively. The Company had no commitments to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings at December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
During 2013, the Company had eight credits that were modified as troubled debt restructurings. Seven of these credits with an aggregate recorded investment of $338 thousand represent debt by borrowers discharged under Chapter 7 bankruptcy. The borrower in each case did not reaffirm their debt, and the release of personal liability by the court is deemed a concession. However, each borrower continues to make payments under the original terms of the loan agreement. The remaining restructuring consists of a credit secured by commercial real estate whereby the maturity date was extended 48 months. | |||||||||||||||||||||||||||||||||
During 2012, the Company had three credits that were modified as troubled debt restructurings. One restructuring includes a commercial real estate credit whereby the stated interest rate was reduced to 5.0% from 7.25% and repayment terms that include an initial six month interest only component. One restructuring includes a residential real estate credit | |||||||||||||||||||||||||||||||||
whereby the stated interest rate was reduced to 4.125% from 6.0% and the due date extended by three months. The remaining restructured credit represents a secured consumer loans in which the maturity date was extended. | |||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructurings that occurred during the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | Number | Recorded | Recorded | ||||||||||||||||||||||||||||||
of Loans | Investment | Investment | |||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage – residential | 3 | $ | 309 | $ | 309 | ||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 1 | 598 | 598 | ||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 13 | 13 | ||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Secured | 3 | 16 | 16 | ||||||||||||||||||||||||||||||
Total | 8 | $ | 936 | $ | 936 | ||||||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage – residential | 1 | $ | 72 | $ | 72 | ||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 1 | 8,796 | 8,717 | ||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Unsecured | 1 | 38 | 38 | ||||||||||||||||||||||||||||||
Total | 3 | $ | 8,906 | $ | 8,827 | ||||||||||||||||||||||||||||
The troubled debt restructurings identified above increased the allowance for loan losses by $37 thousand and $442 thousand for 2013 and 2012, respectively. There were no charge-offs related to loans restructured in 2013 or 2012. | |||||||||||||||||||||||||||||||||
The Company had one restructured credit in 2013 for which there was a payment default within twelve months following the modification. This credit is secured by residential real estate with an outstanding balance of $15 thousand at year-end 2013. No charge-offs have been recorded for this credit. | |||||||||||||||||||||||||||||||||
The Company had one restructured credit in 2012 for which there was a payment default within twelve months following the modification. This credit had an outstanding balance of $72 thousand at December 31, 2012 and is secured by residential real estate. This credit had a specific reserve allocation of $5 thousand at year-end 2012. There were no charge-offs recorded during 2012 related to this credit. | |||||||||||||||||||||||||||||||||
The tables below present an age analysis of past due loans 30 days or more by class of loans as of the dates indicated. Past due loans that are also classified as nonaccrual are included in their respective past due category. | |||||||||||||||||||||||||||||||||
December 31, 2013 (In thousands) | 30-89 | 90 Days | Total | Current | Total | ||||||||||||||||||||||||||||
Days | or More | Loans | |||||||||||||||||||||||||||||||
Past Due | Past Due | ||||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 58 | $ | 613 | $ | 671 | $ | 100,681 | $ | 101,352 | |||||||||||||||||||||||
Real estate mortgage – residential | 1,225 | 2,502 | 3,727 | 367,855 | 371,582 | ||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 3,548 | 7,978 | 11,526 | 406,621 | 418,147 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and industrial | 71 | 53 | 124 | 47,302 | 47,426 | ||||||||||||||||||||||||||||
States and political subdivisions | - | - | - | 21,561 | 21,561 | ||||||||||||||||||||||||||||
Lease financing, net | - | 22 | 22 | 861 | 883 | ||||||||||||||||||||||||||||
Other | 56 | - | 56 | 23,784 | 23,840 | ||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Secured | 41 | 3 | 44 | 8,535 | 8,579 | ||||||||||||||||||||||||||||
Unsecured | 58 | 1 | 59 | 6,454 | 6,513 | ||||||||||||||||||||||||||||
Total | $ | 5,057 | $ | 11,172 | $ | 16,229 | $ | 983,654 | $ | 999,883 | |||||||||||||||||||||||
December 31, 2012 (In thousands) | 30-89 | 90 Days | Total | Current | Total | ||||||||||||||||||||||||||||
Days | or More | Loans | |||||||||||||||||||||||||||||||
Past Due | Past Due | ||||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage– construction and land development | $ | 908 | $ | 1,361 | $ | 2,269 | $ | 100,185 | $ | 102,454 | |||||||||||||||||||||||
Real estate mortgage – residential | 2,303 | 2,500 | 4,803 | 363,959 | 368,762 | ||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 1,990 | 10,724 | 12,714 | 412,763 | 425,477 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and industrial | 108 | 53 | 161 | 46,651 | 46,812 | ||||||||||||||||||||||||||||
States and political subdivisions | - | - | - | 21,472 | 21,472 | ||||||||||||||||||||||||||||
Lease financing, net | 1 | 53 | 54 | 2,561 | 2,615 | ||||||||||||||||||||||||||||
Other | 38 | 399 | 437 | 18,719 | 19,156 | ||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Secured | 69 | - | 69 | 11,663 | 11,732 | ||||||||||||||||||||||||||||
Unsecured | 137 | - | 137 | 6,378 | 6,515 | ||||||||||||||||||||||||||||
Total | $ | 5,554 | $ | 15,090 | $ | 20,644 | $ | 984,351 | $ | 1,004,995 | |||||||||||||||||||||||
The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends and conditions. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes large-balance loans and non-homogeneous loans, such as commercial real estate and certain residential real estate loans. Loan rating grades, as described further below, are assigned based on a continuous process. The amount and adequacy of the allowance for loan loss is determined on a quarterly basis. The Company uses the following definitions for its risk ratings: | |||||||||||||||||||||||||||||||||
Special Mention. Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the borrower’s | |||||||||||||||||||||||||||||||||
repayment ability, weaken the collateral or inadequately protect the Company’s credit position at some future date. These credits pose elevated risk, but their weaknesses do not yet justify a substandard classification. | |||||||||||||||||||||||||||||||||
Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||||||
Doubtful. Loans classified as doubtful have all the weaknesses inherent of those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | |||||||||||||||||||||||||||||||||
Loans not meeting the criteria above which are analyzed individually as part of the above described process are considered to be pass rated loans, which are considered to have a low risk of loss. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the dates indicated. Each of the following tables excludes immaterial amounts attributed to accrued interest receivable. | |||||||||||||||||||||||||||||||||
Real Estate | Commercial | ||||||||||||||||||||||||||||||||
31-Dec-13 | Real Estate Mortgage -Construction and Land Development | Real Estate Mortgage -Residential | Real Estate Mortgage -Farmland and Other Commercial Enterprises | Commercial and Industrial | States and Political Subdivisions | Lease Financing | Other | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Credit risk profile by internally assigned rating grades: | |||||||||||||||||||||||||||||||||
Pass | $ | 77,873 | $ | 334,104 | $ | 352,238 | $ | 45,652 | $ | 21,561 | $ | 861 | $ | 23,820 | |||||||||||||||||||
Special Mention | 7,755 | 15,120 | 29,156 | 963 | - | - | - | ||||||||||||||||||||||||||
Substandard | 15,724 | 22,358 | 36,753 | 735 | - | 22 | 20 | ||||||||||||||||||||||||||
Doubtful | - | - | - | 76 | - | - | - | ||||||||||||||||||||||||||
Total | $ | 101,352 | $ | 371,582 | $ | 418,147 | $ | 47,426 | $ | 21,561 | $ | 883 | $ | 23,840 | |||||||||||||||||||
Real Estate | Commercial | ||||||||||||||||||||||||||||||||
31-Dec-12 | Real Estate Mortgage -Construction and Land Development | Real Estate Mortgage-Residential | Real Estate Mortgage-Farmland and Other Commercial Enterprises | Commercial and Industrial | States and Political Subdivisions | Lease Financing | Other | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Credit risk profile by internally assigned rating grades: | |||||||||||||||||||||||||||||||||
Pass | $ | 68,721 | $ | 328,214 | $ | 348,918 | $ | 41,527 | $ | 21,472 | $ | 2,615 | $ | 18,592 | |||||||||||||||||||
Special Mention | 7,562 | 18,485 | 35,027 | 4,201 | - | - | 559 | ||||||||||||||||||||||||||
Substandard | 26,171 | 21,984 | 41,532 | 1,008 | - | - | 5 | ||||||||||||||||||||||||||
Doubtful | - | 79 | - | 76 | - | - | - | ||||||||||||||||||||||||||
Total | $ | 102,454 | $ | 368,762 | $ | 425,477 | $ | 46,812 | $ | 21,472 | $ | 2,615 | $ | 19,156 | |||||||||||||||||||
The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For consumer loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the consumer loans outstanding based on payment activity as of December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Consumer | Consumer | ||||||||||||||||||||||||||||||||
(In thousands) | Secured | Unsecured | Secured | Unsecured | |||||||||||||||||||||||||||||
Credit risk profile based on payment activity: | |||||||||||||||||||||||||||||||||
Performing | $ | 8,576 | $ | 6,461 | $ | 11,723 | $ | 6,382 | |||||||||||||||||||||||||
Nonperforming | 3 | 52 | 9 | 133 | |||||||||||||||||||||||||||||
Total | $ | 8,579 | $ | 6,513 | $ | 11,732 | $ | 6,515 | |||||||||||||||||||||||||
Note_4_Other_Real_Estate_Owned
Note 4 - Other Real Estate Owned | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Real Estate Owned [Text Block] | ' | ||||||||
4.Other Real Estate Owned | |||||||||
OREO was as follows as of the date indicated: | |||||||||
December 31, (In thousands) | 2013 | 2012 | |||||||
Construction and land development | $ | 23,504 | $ | 32,360 | |||||
Residential real estate | 2,695 | 4,605 | |||||||
Farmland and other commercial enterprises | 11,627 | 15,597 | |||||||
Total | $ | 37,826 | $ | 52,562 | |||||
OREO activity for 2013 and 2012 was as follows: | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Beginning balance | $ | 52,562 | $ | 38,157 | |||||
Transfers from loans | 6,110 | 33,913 | |||||||
Transfers from premises | - | 212 | |||||||
Proceeds from sales, net | (15,169 | ) | (15,636 | ) | |||||
Loss on sales | (182 | ) | (324 | ) | |||||
Write downs and other decreases, net | (5,495 | ) | (3,760 | ) | |||||
Ending balance | $ | 37,826 | $ | 52,562 | |||||
Note_5_Premises_and_Equipment
Note 5 - Premises and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
5.Premises and Equipment | |||||||||
Premises and equipment consist of the following. | |||||||||
December 31, (In thousands) | 2013 | 2012 | |||||||
Land, buildings, and leasehold improvements | $ | 58,770 | $ | 57,772 | |||||
Furniture and equipment | 18,561 | 17,501 | |||||||
Total premises and equipment | 77,331 | 75,273 | |||||||
Less accumulated depreciation and amortization | 41,058 | 39,090 | |||||||
Premises and equipment, net | $ | 36,273 | $ | 36,183 | |||||
Depreciation and amortization of premises and equipment was $3.4 million, $3.4 million, and $3.5 million for 2013, 2012, and 2011, respectively. |
Note_6_Deposit_Liabilities
Note 6 - Deposit Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Deposit Liabilities Disclosures [Text Block] | ' | ||||||||
6.Deposit Liabilities | |||||||||
Major classifications of deposits are summarized as follows for the dates indicated: | |||||||||
December 31, (In thousands) | 2013 | 2012 | |||||||
Noninterest Bearing | $ | 277,294 | $ | 254,912 | |||||
Interest Bearing | |||||||||
Demand | 320,503 | 296,931 | |||||||
Savings | 340,903 | 318,302 | |||||||
Time | 471,515 | 540,665 | |||||||
Total interest bearing | 1,132,921 | 1,155,898 | |||||||
Total Deposits | $ | 1,410,215 | $ | 1,410,810 | |||||
At December 31, 2013, the scheduled maturities of time deposits were as follows: | |||||||||
(In thousands) | Amount | ||||||||
2014 | $ | 278,513 | |||||||
2015 | 87,786 | ||||||||
2016 | 58,143 | ||||||||
2017 | 34,419 | ||||||||
2018 | 8,670 | ||||||||
Thereafter | 3,984 | ||||||||
Total | $ | 471,515 | |||||||
Time deposits of $100 thousand or more at December 31, 2013 and 2012 were $156 million and $181 million, respectively. Interest expense on time deposits of $100 thousand or more was $1.8 million, $2.9 million, and $4.5 million for 2013, 2012, and 2011, respectively. | |||||||||
During 2010, the Federal Deposit Insurance Corporation (“FDIC”) permanently raised its standard maximum insurance amount per depositor from $100 thousand to $250 thousand. At December 31, 2013 and 2012, the Company had $30.4 million and $32.2 million, respectively, of time deposits outstanding in amounts of $250 thousand or more. | |||||||||
Deposits from directors, executive officers, and principal shareholders of the Parent Company and its subsidiaries (including deposits from affiliated companies of which they are principal owners) and deposits from members of the immediate family of such persons were $19.0 million and $19.1 million at December 31, 2013 and 2012, respectively. Such deposits were accepted in the normal course of business on substantially the same terms as those prevailing at the time for comparable transactions with other customers. |
Note_7_Federal_Funds_Purchased
Note 7 - Federal Funds Purchased and Other Short-term Borrowings | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Short-term Debt [Text Block] | ' | ||||||||
7. Federal Funds Purchased and Other Short-term Borrowings | |||||||||
Federal funds purchased and other short-term borrowings represent borrowings with an original maturity of less than one year. All of the Company’s short-term borrowings are made up of federal funds purchased and securities sold under agreements to repurchase, which represent borrowings that generally mature one business day following the date of the transaction. Information on federal funds purchased and other short-term borrowings is as follows: | |||||||||
December 31, (Dollars in thousands) | 2013 | 2012 | |||||||
Federal funds purchased and securities sold under agreement to repurchase | $ | 29,123 | $ | 24,083 | |||||
Total short-term | $ | 29,123 | $ | 24,083 | |||||
Average balance during the year | $ | 29,440 | $ | 26,134 | |||||
Maximum month-end balance during the year | 32,885 | 31,632 | |||||||
Average interest rate during the year | 0.25 | % | 0.37 | % | |||||
Average interest rate at year-end | 0.25 | 0.29 | |||||||
Note_8_Securities_Sold_Under_A
Note 8 - Securities Sold Under Agreements to Repurchase and Other Long-term Borrowings | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||
Long-term Debt [Text Block] | ' | ||||||||||||||||
8. Securities Sold Under Agreements to Repurchase and Other Long-term Borrowings | |||||||||||||||||
Long-term securities sold under agreements to repurchase and other borrowings represent borrowings with an original maturity of one year or more. The table below displays a summary of the ending balance and average rate for borrowed funds on the dates indicated. | |||||||||||||||||
December 31, (Dollars in thousands) | 2013 | Average | 2012 | Average | |||||||||||||
Rate | Rate | ||||||||||||||||
Federal Home Loan Bank advances | $ | 27,126 | 4.14 | % | $ | 29,297 | 4.04 | % | |||||||||
Subordinated notes payable | 48,970 | 1.71 | 48,970 | 1.77 | |||||||||||||
Securities sold under agreements to repurchase | 100,754 | 3.92 | 100,000 | 3.95 | |||||||||||||
Total long-term borrowings | $ | 176,850 | 3.34 | % | $ | 178,267 | 3.36 | % | |||||||||
Long-term FHLB advances are made pursuant to several different credit programs, which have their own interest rates and range of maturities. At December 31, 2013, interest rates on all FHLB advances are fixed and range between 2.99% and 6.90%, averaging 4.14%, over a remaining maturity period of up to seven years. At December 31, 2012, interest rates on FHLB advances ranged between 2.60% and 6.90%, averaging 4.04%, over a remaining maturity period of up to eight years. Long-term FHLB borrowings of $26.0 million and $28.0 million at year-end 2013 and 2012, respectively, were putable quarterly. None of the long-term FHLB advances are convertible to a floating interest rate. | |||||||||||||||||
For FHLB advances, the subsidiary banks pledge FHLB stock and fully disbursed, otherwise unencumbered, 1-4 family first mortgage loans as collateral for these advances as required by the FHLB. Based on this collateral and the Company’s holdings of FHLB stock, the Company is eligible to borrow up to an additional $101 million from the FHLB at year-end 2013. | |||||||||||||||||
During 2005, the Company completed two private offerings of trust preferred securities through two separate Delaware statutory trusts sponsored by the Company. Farmers Capital Bank Trust I (“Trust I”) sold $10.0 million of preferred securities and Farmers Capital Bank Trust II (“Trust II”) sold $15.0 million of preferred securities. The proceeds from the offerings were used to fund the cash portion of the acquisition of Citizens Bancorp, Inc., the former parent company of Citizens Northern. The trust preferred securities mature September 30, 2035 and can now be redeemed at any time by the Trust at par. | |||||||||||||||||
Farmers Capital Bank Trust III (“Trust III”), a Delaware statutory trust sponsored by the Company, was formed during 2007 for the purpose of financing the cost of acquiring Company shares under a share repurchase program. Trust III sold $22.5 million of trust preferred securities to the public with an initial fixed rate of 6.60% through October 2012, thereafter | |||||||||||||||||
at a variable rate of interest, reset quarterly, equal to the 3-month LIBOR plus a predetermined spread of 132 basis points). The trust preferred securities mature on November 1, 2037 and can now be redeemed at any time by the Trust at par. Trust I, Trust II, and Trust III are hereafter collectively referred to as the “Trusts.” | |||||||||||||||||
The Trusts used the proceeds from the sale of preferred securities, plus capital contributed to establish the trusts, to purchase the Company’s subordinated notes in amounts and bearing terms that parallel the amounts and terms of the respective preferred securities. The subordinated notes to Trust I and Trust II mature in 2035 and in 2037 for Trust III, and bear a floating interest rate (current three-month LIBOR plus 150 basis points in the case of the notes held by Trust I, current three-month LIBOR plus 165 basis points in the case of the notes held by Trust II, and current three-month LIBOR plus 132 basis points in the case of the notes held by Trust III). Interest on the notes is payable quarterly. Interest payments to the Trusts and distributions to preferred shareholders by the Trusts may be deferred for 20 consecutive quarterly periods. | |||||||||||||||||
The subordinated notes are redeemable in whole or in part, without penalty, at the Company’s option. The notes are junior in right of payment of all present and future senior indebtedness. At December 31, 2013 and 2012 the balance of the subordinated notes payable to Trust I, Trust II, and Trust III was $10.3 million, $15.5 million, and $23.2 million, respectively. The interest rates in effect as of the last determination date for 2013 were 1.75%, 1.90%, and 1.56% for Trust I, Trust II, and Trust III, respectively. For 2012 these rates were 1.81%, 1.96%, and 1.63% for Trust I Trust II, and Trust III, respectively. | |||||||||||||||||
The Company is not considered the primary beneficiary of the Trusts; therefore the Trusts are not consolidated into its financial statements. Accordingly, the Company does not report the securities issued by the Trusts as liabilities, but instead reports as liabilities the subordinated notes issued by the Company and held by the Trusts. The Company, which owns all of the common securities of the Trusts, accounts for its investment in each of the Trusts as other assets. The Company records interest expense on the corresponding notes issued to the Trusts on its statements of income. | |||||||||||||||||
The subordinated notes, net of the Company’s investment in the Trusts, may be included in Tier 1 capital (with certain limitations applicable) under current regulatory capital guidelines and interpretations. The net amount of subordinated notes in excess of the limit may be included in Tier 2 capital, subject to restrictions. At year-end 2013 and 2012, the Company’s Tier 1 capital included $47.5 million, which represents the full amount of the subordinated notes net of the Company’s investment in the Trusts. | |||||||||||||||||
During 2007, the Company entered into a balance sheet leverage transaction whereby it borrowed $200 million in multiple fixed rate term repurchase agreements with an initial weighted average cost of 3.95% and invested the proceeds in Government National Mortgage Association (“GNMA”) bonds, which were pledged as collateral. The Company is required to secure the borrowed funds by GNMA bonds valued at 106% of the outstanding principal balance. The borrowings have an outstanding balance of $100 million at December 31, 2013, are putable on a quarterly basis, and mature in November 2017. The repurchase agreements are held by each of the Company’s three subsidiary banks that are participating in the transaction and are guaranteed by the Parent Company. The Company has $754 thousand of other long-term repurchase agreements outstanding at December 31, 2013 made in the ordinary course of business with commercial customers. The average interest rate on these fixed rate borrowings is 1.17%. | |||||||||||||||||
Maturities of long-term borrowings at December 31, 2013 are as follows: | |||||||||||||||||
(In thousands) | Amount | ||||||||||||||||
2014 | $ | 8,012 | |||||||||||||||
2015 | 251 | ||||||||||||||||
2016 | 503 | ||||||||||||||||
2017 | 115,000 | ||||||||||||||||
2018 | 3,000 | ||||||||||||||||
Thereafter | 50,084 | ||||||||||||||||
Total | $ | 176,850 | |||||||||||||||
Note_9_Income_Taxes
Note 9 - Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||
9. Income Taxes | |||||||||||||
The components of income tax expense are as follows: | |||||||||||||
December 31, (In thousands) | 2013 | 2012 | 2011 | ||||||||||
Currently payable | $ | 4,908 | $ | 3,953 | $ | 1,580 | |||||||
Deferred | (473 | ) | (1,043 | ) | (2,227 | ) | |||||||
Total applicable to operations | 4,435 | 2,910 | (647 | ) | |||||||||
Deferred tax charged (credited) to components of shareholders’ equity: | |||||||||||||
Unfunded status of postretirement benefits | 1,589 | (92 | ) | (500 | ) | ||||||||
Net unrealized securities (losses) gains | (7,019 | ) | 214 | 3,593 | |||||||||
Total income taxes | $ | (995 | ) | $ | 3,032 | $ | 2,446 | ||||||
An analysis of the difference between the effective income tax rates and the statutory federal income tax rate follows. | |||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | |||||||
Changes from statutory rates resulting from: | |||||||||||||
Tax-exempt interest | (6.3 | ) | (7.6 | ) | (51.5 | ) | |||||||
Nondeductible interest to carry tax-exempt obligations | 0.3 | 0.4 | 3.6 | ||||||||||
Nondeductible legal expense | - | 0.5 | - | ||||||||||
Tax credits | - | (1.8 | ) | (13.0 | ) | ||||||||
Premium income not subject to tax | (1.3 | ) | (2.5 | ) | (5.5 | ) | |||||||
Company-owned life insurance | (1.8 | ) | (3.5 | ) | (15.2 | ) | |||||||
Uncertain tax position | (.5 | ) | (.9 | ) | 14.3 | ||||||||
Other, net | (.6 | ) | (.3 | ) | 1.4 | ||||||||
Effective tax rate on pretax income | 24.8 | % | 19.3 | % | (30.9 | )% | |||||||
The tax effects of the significant temporary differences that comprise deferred tax assets and liabilities at December 31, 2013 and 2012 are as follows: | |||||||||||||
December 31, (In thousands) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Allowance for loan losses | $ | 7,217 | $ | 8,571 | |||||||||
Deferred directors’ fees | 285 | 281 | |||||||||||
Postretirement benefit obligations | 4,459 | 5,633 | |||||||||||
Other real estate owned | 3,568 | 2,398 | |||||||||||
Partnership investments | 1,508 | 1,444 | |||||||||||
Self-funded insurance | 213 | 164 | |||||||||||
Paid time off | 701 | 705 | |||||||||||
Depreciation | 798 | 676 | |||||||||||
Intangibles | 3,179 | 3,526 | |||||||||||
Unrealized losses on available for sale investment securities, net | 1,951 | - | |||||||||||
Other | 232 | 44 | |||||||||||
Total deferred tax assets | 24,111 | 23,442 | |||||||||||
Liabilities | |||||||||||||
Unrealized gains on available for sale investment securities, net | - | 5,066 | |||||||||||
Prepaid expenses | 596 | 505 | |||||||||||
Federal Home Loan Bank stock dividends | 1,097 | 1,087 | |||||||||||
Deferred loan fees | 772 | 811 | |||||||||||
Lease financing operations | 136 | 366 | |||||||||||
Total deferred tax liabilities | 2,601 | 7,835 | |||||||||||
Net deferred tax asset | $ | 21,510 | $ | 15,607 | |||||||||
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not the Company will realize the benefits of these deductible differences at December 31, 2013. | |||||||||||||
The Internal Revenue Code grants preferential treatment to the interest income derived from debt issued by states and political subdivisions in that it is not subject to Federal taxation. As a financial institution, the Company is not allowed a tax deduction for a pro rata portion of the interest expense incurred to purchase debt with tax-free attributes. The amount of disallowed interest expense is determined by the total amount of debt issued during the calendar year by the issuer and dependent upon the issuer being considered a qualified small issuer. Debt purchased by a financial institution that meets the requirements to be designated a “qualified tax exempt obligation” has a lower interest expense disallowance than debt that does not meet the “qualified tax exempt obligation” designation. As part of the normal due diligence for a loan with tax-free attributes, the Company relies on the attestation of the borrower, legal counsel for the borrower, and the legal counsel for the Company concerning the representations of the borrower for their debt. During the fourth quarter of 2010, the Company became aware that the qualified status of the debt issued by a customer was being reviewed by the Internal Revenue Service (“IRS”). The customer had previously made representations that their debt was qualified. | |||||||||||||
During the first quarter of 2011, the Company became aware that this customer had received verbal notification of the IRS’s intent to issue an adverse ruling regarding the qualified status of the financing. At that time, the Company had a potential accumulated tax liability of $402 thousand at risk related to the determination for the tax years 2007 through 2010. Under ASC Topic 740, “Income Taxes,” the Company is required to recognize a tax position when it is more likely than not that the position would be sustained in a tax examination, with the tax examination being presumed to occur. Additionally, ASC Topic 740 indicates that a subsequent change in facts and circumstances should be recognized in the period in which the change occurs. As such, the Company recorded an accrual of $449 thousand including the $402 thousand accumulated tax liability and interest of $47 thousand in the first quarter of 2011. The amount of this tax liability has been reduced by $371 thousand since the initial recording of the liability due to the statute of limitations expiring on a portion of the potential tax payment. | |||||||||||||
The original loan contract contains provisions that the customer will indemnify the Company for any penalties, taxes or interest thereon for which the Company becomes liable as a result of a determination of taxability. The Company intends to exercise its rights under the contract; however, due to the contingent nature of the indemnification provisions, the Company will not record the effects of the indemnification until it is realized. | |||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | |||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Balance at beginning of year | $ | 154 | $ | 266 | |||||||||
Reductions to tax positions of prior years | (88 | ) | (112 | ) | |||||||||
Balance at end of year | $ | 66 | $ | 154 | |||||||||
The $66 thousand at year-end 2013 represents the amount of unrecognized tax benefits that, if recognized, would favorably affect the effective income tax rate in future periods. The Company does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. | |||||||||||||
The Company’s policy is to record the accrual of interest or penalties relative to unrecognized tax benefits, if any, in its income tax expense accounts. The total amount of interest recorded in the income tax expense (benefit) line item of the income statement for the year ended December 31, 2011 was $32 thousand. This interest amount was reduced by $9 thousand during 2012 and $11 thousand during 2013 due to the statute of limitations expiring on a portion of the potential | |||||||||||||
tax payment. The amount accrued for interest at December 31, 2013 and 2012 was $12 thousand and $23 thousand, respectively. No penalties were accrued or recorded during any year in the three years ended December 31, 2013. | |||||||||||||
The Company files U.S. federal and various state income tax returns. The Company is no longer subject to income tax examinations by taxing authorities for the years before 2010. |
Note_10_Retirement_Plans
Note 10 - Retirement Plans | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Retirement Plan [Member] | ' | ||||||||
Note 10 - Retirement Plans [Line Items] | ' | ||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | ||||||||
10.Retirement Plans | |||||||||
The Company maintains a salary savings plan that covers substantially all of its employees. The Company matches voluntary tax deferred employee contributions at 50% of eligible deferrals up to a maximum of 6% of the participants’ compensation. The Company may, at the discretion of its Board, contribute an additional amount based upon a percentage of covered employees’ salaries. The Company did not make a discretionary contribution during 2013, 2012, or 2011. Discretionary contributions are allocated among participants in the ratio that each participant’s compensation bears to all participants’ compensation. Eligible employees are presented with various investment alternatives related to the salary savings plan. Those alternatives include various stock and bond mutual funds ranging from traditional growth funds to more stable income funds as well as an option to invest in bank certificates of deposits. Company shares are not an available investment alternative in the salary savings plan. The total retirement plan expense for 2013, 2012, and 2011 was $528 thousand, $485 thousand, and $470 thousand, respectively. | |||||||||
In connection with its acquisition of Citizens Northern, the Company acquired nonqualified supplemental retirement plans for certain key employees. Benefits provided under these plans are unfunded, and payments to plan participants are made by the Company. | |||||||||
The following schedules set forth a reconciliation of the changes in the supplemental retirement plans’ benefit obligation and funded status for the years ended December 31, 2013 and 2012. | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Change in Benefit Obligation | |||||||||
Obligation at beginning of year | $ | 741 | $ | 706 | |||||
Service cost | 28 | 26 | |||||||
Interest cost | 29 | 29 | |||||||
Actuarial loss | 3 | 8 | |||||||
Benefit payments | (27 | ) | (28 | ) | |||||
Obligation at end of year | $ | 774 | $ | 741 | |||||
The following table provides disclosure of the net periodic benefit cost as of December 31 for the years indicated. | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Service cost | $ | 28 | $ | 26 | |||||
Interest cost | 29 | 29 | |||||||
Recognized net actuarial loss | 12 | 8 | |||||||
Net periodic benefit cost | $ | 69 | $ | 63 | |||||
Major assumptions: | |||||||||
Discount rate used to determine net period benefit cost | 4.03 | % | 4.39 | % | |||||
Discount rate used to determine benefit obligation at year end | 4.06 | 4.03 | |||||||
The following table presents estimated future benefit payments in the period indicated. | |||||||||
(In thousands) | Supplemental | ||||||||
Retirement Plan | |||||||||
2014 | $ | 36 | |||||||
2015 | 36 | ||||||||
2016 | 36 | ||||||||
2017 | 36 | ||||||||
2018 | 36 | ||||||||
2019-2023 | 287 | ||||||||
Total | $ | 467 | |||||||
Amounts recognized in accumulated other comprehensive income as of December 31, 2013 and 2012 are as follows: | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Unrecognized net actuarial loss | $ | 148 | $ | 157 | |||||
Total | $ | 148 | $ | 157 | |||||
The estimated cost that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year is as follows: | |||||||||
(In thousands) | Supplemental | ||||||||
Retirement Plan | |||||||||
Unrecognized net actuarial gain | $ | (4 | ) | ||||||
Total | $ | (4 | ) | ||||||
Postretirement Medical Benefits [Member] | ' | ||||||||
Note 10 - Retirement Plans [Line Items] | ' | ||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | ||||||||
12. Postretirement Medical Benefits | |||||||||
Prior to 2003, the Company provided lifetime medical and dental benefits upon retirement for certain employees meeting the eligibility requirements as of December 31, 1989 (“Plan 1”). During 2003, the Company implemented an additional postretirement health insurance program (“Plan 2”). Under Plan 2, any employee meeting the service requirement of 20 years of full time service to the Company and is at least age 55 years of age upon retirement is eligible to continue their health insurance coverage. Under both plans, retirees not yet eligible for Medicare have coverage identical to the coverage offered to active employees. Under both plans, Medicare-eligible retirees are provided with a Medicare Advantage plan. The Company pays 100% of the cost of Plan 1. The Company and the retirees each pay 50% of the cost under Plan 2. Both plans are unfunded. | |||||||||
The following schedules set forth a reconciliation of the changes to the benefit obligation and funded status of the plans for the years ended December 31, 2013 and 2012. | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Change in Benefit Obligation | |||||||||
Obligation at beginning of year | $ | 15,935 | $ | 14,294 | |||||
Service cost | 630 | 617 | |||||||
Interest cost | 551 | 608 | |||||||
Actuarial (gain) loss | (4,277 | ) | 674 | ||||||
Participant contributions | 97 | 85 | |||||||
Benefit payments | (348 | ) | (343 | ) | |||||
Obligation at end of year | $ | 12,588 | $ | 15,935 | |||||
The following table provides disclosure of the net periodic benefit cost as of December 31 for the years indicated. | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Service cost | $ | 630 | $ | 617 | |||||
Interest cost | 551 | 608 | |||||||
Amortization of transition obligation | - | 102 | |||||||
Recognized prior service cost | 257 | 257 | |||||||
Amortization of net actuarial loss | - | 56 | |||||||
Net periodic benefit cost | $ | 1,438 | $ | 1,640 | |||||
Major assumptions: | |||||||||
Discount rate used to determine net periodic benefit cost | 4.03 | % | 4.39 | % | |||||
Discount rate used to determine benefit obligation as of year end | 4.93 | 4.03 | |||||||
Retiree participation rate (Plan 1) | 100 | 100 | |||||||
Retiree participation rate (Plan 2) | 72 | 72 | |||||||
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. For measurement purposes, the rate of increase in pre-Medicare medical care claims costs was 8% and 7% for 2014 and 2015, respectively, then grading down by .5% annually to 5% for 2019 and thereafter. For dental claims cost, it was 5% for 2014 and thereafter. A 1% change in the assumed health care cost trend rates would have the following incremental effects: | |||||||||
(In thousands) | 1% Increase | 1% Decrease | |||||||
Effect on total of service and interest cost components of net periodic postretirement health care benefit cost | $ | 252 | $ | (194 | ) | ||||
Effect on accumulated postretirement benefit obligation | 2,444 | (1,934 | ) | ||||||
The following table presents estimated future benefit payments in the period indicated. | |||||||||
(In thousands) | Postretirement | ||||||||
Medical Benefits | |||||||||
2014 | $ | 340 | |||||||
2015 | 355 | ||||||||
2016 | 377 | ||||||||
2017 | 422 | ||||||||
2018 | 461 | ||||||||
2019-2023 | 2,909 | ||||||||
Total | $ | 4,864 | |||||||
Amounts recognized in accumulated other comprehensive income as of December 31, 2013 and 2012 are as follows: | |||||||||
(In thousands) | 2013 | 2012 | |||||||
Unrecognized net actuarial (gain) loss | $ | (1,190 | ) | $ | 3,087 | ||||
Unrecognized prior service cost | 383 | 639 | |||||||
Total | $ | (807 | ) | $ | 3,726 | ||||
The estimated costs that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year are as follows: | |||||||||
(In thousands) | Postretirement | ||||||||
Medical Benefits | |||||||||
Unrecognized prior service cost | $ | 207 | |||||||
Unrecognized net actuarial gain | (63 | ) | |||||||
Total | $ | 144 | |||||||
Note_11_Common_Stock_Options
Note 11 - Common Stock Options | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||
11. Common Stock Options | |||||||||
During 1997, the Company’s Board of Directors approved a nonqualified stock option plan (the “Plan”), subsequently approved by the Company’s shareholders, that has provided for the granting of stock options to key employees and officers of the Company. The Plan provides for the granting of options to purchase up to 450,000 shares of the Company’s common stock at a price equal to the fair value of the Company’s common stock on the date the option is granted. The options expire after ten years from the grant date and must be held for a minimum of one year before they can be exercised. Forfeited options are available for the granting of additional stock options under the Plan. Options forfeited from the initial grant in 1997 were used to grant options during 2000 and 2004. Total options granted were 450,000, 54,000, and 40,049 in the years 1997, 2000, and 2004, respectively. Unexercised options granted during 1997 and 2000 have expired. All outstanding options granted under the Plan are vested. At December 31, 2013, there were 54,172 options available for future grants under the Plan. | |||||||||
A summary of the activity in the Company’s Plan for 2013 is presented below. | |||||||||
2013 | |||||||||
Shares | Weighted Average | ||||||||
Exercise Price | |||||||||
Options outstanding at beginning of year | 24,049 | $ | 34.8 | ||||||
Forfeited | (2,000 | ) | 34.8 | ||||||
Options outstanding at year-end | 22,049 | $ | 34.8 | ||||||
Options exercisable at year-end | 22,049 | $ | 34.8 | ||||||
Options outstanding at year-end 2013 have a remaining contractual life of .83 years. Aggregate options outstanding and exercisable at December 31, 2013 had no intrinsic value since the exercise price was in excess of the market price of the | |||||||||
Company’s stock. There were no options exercised or granted in any year in the three-year periods ending December 31, 2013, nor were there any modifications or cash paid to settle stock option awards during those periods. |
Note_13_Leases
Note 13 - Leases | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Leases [Abstract] | ' | ||||
Leases of Lessee Disclosure [Text Block] | ' | ||||
13. Leases | |||||
The Company leases certain branch sites and banking equipment under various operating leases. Branch site leases have renewal options of varying lengths and terms. The following table presents estimated future minimum rental commitments under these leases for the period indicated. | |||||
(In thousands) | Operating Leases | ||||
2014 | $ | 349 | |||
2015 | 313 | ||||
2016 | 244 | ||||
2017 | 124 | ||||
2018 | 113 | ||||
Thereafter | 537 | ||||
Total | $ | 1,680 | |||
Rent expense was $399 thousand, $424 thousand, and $451 thousand for 2013, 2012, and 2011, respectively. |
Note_14_Financial_Instruments_
Note 14 - Financial Instruments With Off-Balance Sheet Risk | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Financial Instruments With Off Balance Sheet Risk [Abstract] | ' | ||||||||||||||||
Financial Instruments With Off Balance Sheet Risk [Text Block] | ' | ||||||||||||||||
14. 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 to meet the financing needs of its customers. The financial instruments include commitments to extend credit in the form of unused lines of credit and standby letters of credit. | |||||||||||||||||
These financial instruments involve to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The contract amounts of these instruments reflect the extent of involvement the Company has in particular classes of financial instruments. | |||||||||||||||||
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 the payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. Total commitments to extend credit were $140 million and $129 million at December 31, 2013 and 2012, respectively. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained upon extension of credit, if deemed necessary by the Company, is based on management’s credit evaluation of the counter-party. Collateral held varies, but may include accounts receivable, marketable securities, inventory, premises and equipment, residential real estate, and income producing commercial properties. | |||||||||||||||||
Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Since many of the commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. The credit risk involved in issuing letters of credit is essentially the same as that received when extending credit to customers. The fair value of these instruments is not considered material for disclosure. The Company had $23.4 million and $24.4 million in irrevocable letters of credit outstanding at December 31, 2013 and 2012, respectively. | |||||||||||||||||
The contractual amount of financial instruments with off-balance sheet risk was as follows at year-end: | |||||||||||||||||
December 31, | 2013 | 2012 | |||||||||||||||
(In thousands) | Fixed Rate | Variable Rate | Fixed Rate | Variable Rate | |||||||||||||
Commitments to extend credit, including unused lines of credit | $ | 56,884 | $ | 82,934 | $ | 51,447 | $ | 77,176 | |||||||||
Standby letters of credit | 2,578 | 20,816 | 2,647 | 21,740 | |||||||||||||
Total | $ | 59,462 | $ | 103,750 | $ | 54,094 | $ | 98,916 | |||||||||
Note_15_Concentration_of_Credi
Note 15 - Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2013 | |
Risks and Uncertainties [Abstract] | ' |
Concentration Risk Disclosure [Text Block] | ' |
15.Concentration of Credit Risk | |
The Company’s bank subsidiaries actively engage in lending, primarily in their home counties around Central and Northern Kentucky and adjacent areas. Collateral is received to support these loans as deemed necessary. The more significant categories of collateral include cash on deposit with the Company’s banks, marketable securities, income producing properties, commercial real estate, home mortgages, and consumer durables. Loans outstanding, commitments to make loans, and letters of credit range across a large number of industries and individuals. The obligations are significantly diverse and reflect no material concentration in one or more areas, other than most of the Company’s loans are in Kentucky and secured by real estate and thus significantly affected by changes in the Kentucky economy. |
Note_16_Loss_Contingencies
Note 16 - Loss Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Loss Contingency [Abstract] | ' |
Contingencies Disclosure [Text Block] | ' |
16. Loss Contingencies | |
Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. As of December 31, 2013, there were various pending legal actions and proceedings against the Company arising from the normal course of business and in which claims for damages are asserted. It is the opinion of management, after discussion with legal counsel, that the disposition or ultimate resolution of such claims and legal actions will not have a material effect upon the consolidated financial statements of the Company. |
Note_17_Regulatory_Matters
Note 17 - Regulatory Matters | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | ' | ||||||||||||||||||||||||
17. Regulatory Matters | |||||||||||||||||||||||||
The Company and its subsidiary banks are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements will initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the banks must meet specific capital guidelines that involve quantitative measures of the banks’ assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company and its subsidiary banks’ capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. | |||||||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Company and its subsidiary banks to maintain minimum amounts and ratios (set forth in the tables below) of Tier 1 and total capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital to average assets (as defined). As of December 31, 2013, the most recent notification from the FDIC categorized the banks as well-capitalized under the regulatory framework for prompt corrective action. To be categorized as well-capitalized, the banks must maintain minimum Tier 1 Risk-based, Total Risk-based, and Tier 1 Leverage ratios as set forth in the tables. There are no conditions or events since that notification that management believes have changed the institutions’ category. As noted below under the caption “Summary of Regulatory Agreements,” two of the Company’s subsidiary banks are required to maintain certain capital ratios that exceed the regulatory established well-capitalized status. | |||||||||||||||||||||||||
The regulatory capital amounts and ratios of the consolidated Company and its subsidiary banks are presented in the following tables for the dates indicated. | |||||||||||||||||||||||||
(Dollars in thousands) | Actual | For Capital | To Be Well-Capitalized | ||||||||||||||||||||||
Adequacy Purposes | Under Prompt Corrective | ||||||||||||||||||||||||
Action Provisions | |||||||||||||||||||||||||
31-Dec-13 | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
Tier 1 Risk-based Capital1 | |||||||||||||||||||||||||
Consolidated | $ | 216,162 | 18.95 | % | $ | 45,623 | 4 | % | N/A | N/A | |||||||||||||||
Farmers Bank | 67,409 | 17.56 | 15,351 | 4 | $ | 23,026 | 6 | % | |||||||||||||||||
United Bank2 | 51,336 | 15.06 | 13,634 | 4 | 20,450 | 6 | |||||||||||||||||||
First Citizens | 28,814 | 12.92 | 8,917 | 4 | 13,376 | 6 | |||||||||||||||||||
Citizens Northern2 | 24,455 | 13.57 | 7,208 | 4 | 10,812 | 6 | |||||||||||||||||||
Total Risk-based Capital 1 | |||||||||||||||||||||||||
Consolidated | $ | 230,497 | 20.21 | % | $ | 91,245 | 8 | % | N/A | N/A | |||||||||||||||
Farmers Bank | 72,231 | 18.82 | 30,702 | 8 | $ | 38,377 | 10 | % | |||||||||||||||||
United Bank2 | 55,664 | 16.33 | 27,267 | 8 | 34,084 | 10 | |||||||||||||||||||
First Citizens | 30,485 | 13.67 | 17,835 | 8 | 22,294 | 10 | |||||||||||||||||||
Citizens Northern2 | 26,708 | 14.82 | 14,415 | 8 | 18,019 | 10 | |||||||||||||||||||
Tier 1 Leverage Capital 3 | |||||||||||||||||||||||||
Consolidated | $ | 216,162 | 11.9 | % | $ | 72,677 | 4 | % | N/A | N/A | |||||||||||||||
Farmers Bank | 67,409 | 9.6 | 28,077 | 4 | $ | 35,096 | 5 | % | |||||||||||||||||
United Bank2 | 51,336 | 9.67 | 21,233 | 4 | 26,542 | 5 | |||||||||||||||||||
First Citizens | 28,814 | 9.03 | 12,768 | 4 | 15,960 | 5 | |||||||||||||||||||
Citizens Northern2 | 24,455 | 9.67 | 10,113 | 4 | 12,641 | 5 | |||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Tier 1 Risk-based Capital1 | |||||||||||||||||||||||||
Consolidated | $ | 206,470 | 18.27 | % | $ | 45,215 | 4 | % | N/A | N/A | |||||||||||||||
Farmers Bank2 | 69,582 | 17.94 | 15,515 | 4 | $ | 23,273 | 6 | % | |||||||||||||||||
United Bank2 | 51,695 | 15.41 | 13,420 | 4 | 20,130 | 6 | |||||||||||||||||||
First Citizens | 29,017 | 13.57 | 8,552 | 4 | 12,828 | 6 | |||||||||||||||||||
Citizens Northern2 | 23,553 | 12.97 | 7,264 | 4 | 10,896 | 6 | |||||||||||||||||||
Total Risk-based Capital 1 | |||||||||||||||||||||||||
Consolidated | $ | 220,741 | 19.53 | % | $ | 90,431 | 8 | % | N/A | N/A | |||||||||||||||
Farmers Bank2 | 74,475 | 19.2 | 31,030 | 8 | $ | 38,788 | 10 | % | |||||||||||||||||
United Bank2 | 55,980 | 16.69 | 26,839 | 8 | 33,549 | 10 | |||||||||||||||||||
First Citizens | 30,908 | 14.46 | 17,104 | 8 | 21,380 | 10 | |||||||||||||||||||
Citizens Northern2 | 25,826 | 14.22 | 14,528 | 8 | 18,159 | 10 | |||||||||||||||||||
Tier 1 Leverage Capital 3 | |||||||||||||||||||||||||
Consolidated | $ | 206,470 | 11.24 | % | $ | 73,479 | 4 | % | N/A | N/A | |||||||||||||||
Farmers Bank2 | 69,582 | 9.68 | 28,768 | 4 | $ | 35,960 | 5 | % | |||||||||||||||||
United Bank2 | 51,695 | 9.45 | 21,878 | 4 | 27,347 | 5 | |||||||||||||||||||
First Citizens | 29,017 | 9.42 | 12,327 | 4 | 15,409 | 5 | |||||||||||||||||||
Citizens Northern2 | 23,553 | 9.36 | 10,063 | 4 | 12,579 | 5 | |||||||||||||||||||
1Tier 1 Risk-based and Total Risk-based Capital ratios are computed by dividing a bank’s Tier 1 or Total Capital, as defined by regulation, by a risk-weighted sum of the bank’s assets, with the risk weighting determined by general standards established by regulation. The safest assets (e.g., government obligations) are assigned a weighting of 0% with riskier assets receiving higher ratings (e.g., ordinary commercial loans are assigned a weighting of 100%). | |||||||||||||||||||||||||
2See discussion below under the caption “Summary of Regulatory Agreements” for minimum capital ratios required as part of the bank’s regulatory agreement. | |||||||||||||||||||||||||
3Tier 1 Leverage ratio is computed by dividing a bank’s Tier 1 Capital by its total quarterly average assets, as defined by regulation. | |||||||||||||||||||||||||
Payment of dividends by the Company’s subsidiary banks is subject to certain regulatory restrictions as set forth in national and state banking laws and regulations. Generally, capital distributions are limited to undistributed net income for the current and prior two years, subject to the capital requirements as summarized above. Furthermore, at December 31, 2013, two of the Company’s subsidiary banks are required to obtain regulatory approval before declaring or paying a dividend to the Parent Company as a result of agreements entered into with their primary regulator. The payment of dividends by the Parent Company to its shareholders is also subject to approval as a result of its regulatory agreement. | |||||||||||||||||||||||||
Summary of Regulatory Agreements | |||||||||||||||||||||||||
Below is a summary of the regulatory agreements that the Parent Company and two of its subsidiary banks have entered into with their primary regulators. The agreement entered into during 2009 between Farmers Bank and its primary regulator was terminated in January 2013 as a result of satisfactory compliance. | |||||||||||||||||||||||||
Parent Company | |||||||||||||||||||||||||
Primarily due to regulatory actions during 2009 at certain of the Company’s subsidiary banks (further discussed below), the Federal Reserve Bank of St. Louis (“FRB St. Louis”) and the Kentucky Department of Financial Institutions (“KDFI”) proposed the Company enter into a Memorandum of Understanding (“Memorandum”). The Company’s board approved entry into the Memorandum at a regular board meeting during the fourth quarter of 2009. Pursuant to the Memorandum, the Company agreed that it would develop an acceptable capital plan to ensure that the consolidated organization remains well-capitalized and each of its subsidiary banks meet the capital requirements imposed by their regulator as summarized below. | |||||||||||||||||||||||||
The Company also agreed to reduce its common stock dividend in the fourth quarter of 2009 from $.25 per share down to $.10 per share and not make interest payments on the Company’s trust preferred securities or dividends on its common or preferred stock without prior approval from FRB St. Louis and the KDFI. Representatives of the FRB St. Louis and the KDFI have indicated that any such approval for the payment of dividends will be predicated on a demonstration of adequate, normalized earnings on the part of the Company’s subsidiaries sufficient to support quarterly payments on the Company’s trust preferred securities and quarterly dividends on the Company’s common and preferred stock. While both regulatory agencies have granted approval of all subsequent quarterly Company requests to make interest payments on its trust preferred securities and dividends on its preferred stock, the Company has not (based on the assessment by Company management of both the Company’s capital position and the earnings of its subsidiaries) sought regulatory approval for the payment of common stock dividends since the fourth quarter of 2009. Moreover, the Company will not pay any such dividends on its common stock in any subsequent quarter until the regulator’s assessment of the earnings of the Company’s subsidiaries, and the Company’s assessment of its capital position, both yield the conclusion that the payment of a Company common stock dividend is warranted. | |||||||||||||||||||||||||
Other components in the regulatory order for the parent company include requesting and receiving regulatory approval for the payment of new salaries/bonuses or other compensation to insiders; assisting its subsidiary banks in addressing weaknesses identified in their reports of examinations; providing periodic reports detailing how it will meet its debt service obligations; and providing progress reports with its compliance with the regulatory Memorandum. | |||||||||||||||||||||||||
United Bank | |||||||||||||||||||||||||
In November of 2009, the FDIC and the KDFI entered into a Cease and Desist Order (“C&D”) with United Bank primarily as a result of its level of nonperforming assets. The C&D was terminated in December 2011 coincident with the issuance of a Consent Order (“Consent Order”) entered into between the parties. The Consent Order is substantially the same as the C&D, with the primary exception being that United Bank must achieve and maintain a Tier 1 Leverage ratio of 9.0% and a Total Risk-based Capital ratio of 13.0% no later than March 31, 2012. | |||||||||||||||||||||||||
Other components in the regulatory order include stricter oversight and reporting to its regulators in terms of complying with the Consent Order. It also includes an increase in the level of reporting by management to its board of directors of its financial results, budgeting, and liquidity analysis, as well as restricting the bank from extending additional credit to borrowers with credits classified as substandard, doubtful or special mention in the report of examination. There is also a requirement to obtain written consent prior to declaring or paying a dividend and to develop a written contingency plan if the bank is unable to meet the capital levels established in the Consent Order. | |||||||||||||||||||||||||
During January 2014, the Company received written notification from the FDIC and KDFI that the formal Consent Order entered into during 2011 with United Bank had been terminated and replaced with a stepped-down enforcement action in | |||||||||||||||||||||||||
the form of an informal Memorandum. The informal Memorandum includes substantially the same provisions covered by the Consent Order. | |||||||||||||||||||||||||
Citizens Northern | |||||||||||||||||||||||||
The FDIC and the KDFI entered into a Memorandum with Citizens Northern in September 2010. The Memorandum was terminated July 7, 2013 upon the issuance of an updated Memorandum. The updated Memorandum contains many of the same provisions included in the terminated Memorandum, with a new requirement that Citizens Northern maintain a Tier 1 leverage ratio at or above 9.0%. In addition, the updated Memorandum requires having and retaining qualified management in the areas of loan administration and collection. It also requires Citizens Northern to address credit underwriting and administration weaknesses identified in the most recent examination of the bank by the FDIC and the KDFI. | |||||||||||||||||||||||||
Other parts of the regulatory order include the development and documentation of plans for reducing problem loans, providing progress reports on compliance with the Memorandum, and for the development and implementation of a written profit plan and strategic plans. It also restricts the bank from extending additional credit to borrowers with credits classified as substandard, doubtful or special mention in the report of examination. | |||||||||||||||||||||||||
Regulators continue to monitor the Company’s progress and compliance with the regulatory agreements through periodic on-site examinations, regular communications, and quarterly data analysis. At the Parent Company and at each of its bank subsidiaries, the Company believes it is adequately addressing all issues of the regulatory agreements to which it is subject. However, only the respective regulatory agencies can determine if compliance with the applicable regulatory agreements has been met. The Company believes that it and its subsidiary banks are in compliance with the requirements identified in the regulatory agreements as of December 31, 2013. | |||||||||||||||||||||||||
The Parent Company maintains cash available to fund a certain amount of additional injections of capital to its bank subsidiaries as determined by management or if required by its regulators. If needed, further amounts in excess of available cash may be funded by future public or private sales of securities, although the Parent Company is currently under no directive by its regulators to raise any additional capital. |
Note_18_Fair_Value_Measurement
Note 18 - Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||
18. Fair Value Measurements | |||||||||||||||||||||
ASC Topic 820, “Fair Value Measurements and Disclosures,” defines fair value, establishes a framework for measuring fair value, and sets forth disclosures about fair value measurements. ASC Topic 825, “Financial Instruments,” allows entities to choose to measure certain financial assets and liabilities at fair value. The Company has not elected the fair value option for any of its financial assets or liabilities. | |||||||||||||||||||||
ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. It also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. This Topic describes three levels of inputs that may be used to measure fair value: | |||||||||||||||||||||
Level 1: | Quoted prices for identical assets or liabilities in active markets that the entity has the ability to access at the measurement date. | ||||||||||||||||||||
Level 2: | Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||||||||||||||||||
Level 3: | Significant unobservable inputs that reflect a reporting entity’s own assumptions supported by little or no market activity, about the assumptions that market participants would use in pricing the asset or liability. | ||||||||||||||||||||
Following is a description of the valuation method used for instruments measured at fair value on a recurring basis. For this disclosure, the Company only has available for sale investment securities that meet the requirement. | |||||||||||||||||||||
Available for sale investment securities | |||||||||||||||||||||
Valued primarily by independent third party pricing services under the market valuation approach that include, but are not limited to, the following inputs: | |||||||||||||||||||||
● | Mutual funds and equity securities are priced utilizing real-time data feeds from active market exchanges for identical securities and are considered Level 1 inputs. | ||||||||||||||||||||
● | Government-sponsored agency debt securities, obligations of states and political subdivisions, mortgage-backed securities, corporate bonds, and other similar investment securities are priced with available market information through processes using benchmark yields, matrix pricing, prepayment speeds, cash flows, live trading data, and market spreads sourced from new issues, dealer quotes, and trade prices, among others sources and are considered Level 2 inputs. | ||||||||||||||||||||
Available for sale investment securities are the Company’s only balance sheet item that meets the disclosure requirements for instruments measured at fair value on a recurring basis. Disclosures as of December 31, 2013 and 2012 are as follows: | |||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
(In thousands) | Fair Value | Quoted Prices in | Significant Other | Significant | |||||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||||||
Available For Sale Investment Securities | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Obligations of U.S. government-sponsored entities | $ | 93,750 | $ | - | $ | 93,750 | $ | - | |||||||||||||
Obligations of states and political subdivisions | 131,970 | - | 131,970 | - | |||||||||||||||||
Mortgage-backed securities – residential | 378,077 | - | 378,077 | - | |||||||||||||||||
Mortgage-backed securities – commercial | 689 | - | 689 | - | |||||||||||||||||
Corporate debt securities | 6,257 | - | 6,257 | - | |||||||||||||||||
Mutual funds and equity securities | 2,077 | 2,077 | - | - | |||||||||||||||||
Total | $ | 612,820 | $ | 2,077 | $ | 610,743 | $ | - | |||||||||||||
31-Dec-12 | |||||||||||||||||||||
Obligations of U.S. government-sponsored entities | $ | 76,095 | $ | - | $ | 76,095 | $ | - | |||||||||||||
Obligations of states and political subdivisions | 118,755 | - | 118,755 | - | |||||||||||||||||
Mortgage-backed securities – residential | 370,439 | - | 370,439 | - | |||||||||||||||||
Corporate debt securities | 5,826 | - | 5,826 | - | |||||||||||||||||
Mutual funds and equity securities | 1,993 | 1,993 | - | - | |||||||||||||||||
Total | $ | 573,108 | $ | 1,993 | $ | 571,115 | $ | - | |||||||||||||
The Company is required to measure and disclose certain other assets and liabilities at fair value on a nonrecurring basis in periods following their initial recognition. The Company’s disclosure about assets and liabilities measured at fair value on a nonrecurring basis consists of impaired loans and OREO. The carrying value of these assets are adjusted to fair value on a nonrecurring basis through impairment charges as described more fully below. | |||||||||||||||||||||
Impairment charges on collateral-dependent loans are recorded by either an increase to the provision for loan losses and related allowance or by direct loan charge-offs. The fair value of collateral-dependent impaired loans with specific allocations of the allowance for loan losses is measured based on recent appraisals of the underlying collateral. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the | |||||||||||||||||||||
income approach. Appraisers take absorption rates into consideration and adjustments are routinely made in the appraisal process to identify differences between the comparable sales and income data available. Such adjustments consist mainly of estimated costs to sell that are not included in certain appraisals or to update appraised collateral values as a result of market declines of similar properties for which a newer appraisal is available. These adjustments can be significant and typically result in a Level 3 classification of the inputs for determining fair value. | |||||||||||||||||||||
OREO includes properties acquired by the Company through, or in lieu of, actual loan foreclosures and is carried at fair value less estimated costs to sell. Fair value of OREO at acquisition is generally based on third party appraisals of the property that includes comparable sales data and is considered as Level 3 inputs. The carrying value of each OREO property is updated at least annually and more frequently when market conditions significantly impact the value of the property. If the carrying amount of the OREO exceeds fair value less estimated costs to sell, an impairment loss is recorded through noninterest expense. | |||||||||||||||||||||
The following table represents the carrying amount of assets measured at fair value on a nonrecurring basis and still held by the Company as of the dates indicated. The amounts in the table only represent assets whose carrying amount has been adjusted by impairment charges during the period in a manner as described above; therefore, these amounts will differ from the total amounts outstanding. Collateral-dependent impaired loan amounts in the tables below exclude restructured loans since they are measured based on present value techniques, which are outside the scope of the fair value reporting framework. | |||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
(In thousands) | Fair Value | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||||||
Assets | Inputs | (Level 3) | |||||||||||||||||||
Description | (Level 1) | (Level 2) | |||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Collateral-dependent Impaired Loans | |||||||||||||||||||||
Real estate mortgage - construction and land development | $ | 334 | $ | - | $ | - | $ | 334 | |||||||||||||
Real estate mortgage - residential | 2,085 | - | - | 2,085 | |||||||||||||||||
Real estate mortgage - farmland and other commercial enterprises | 3,152 | - | - | 3,152 | |||||||||||||||||
Commercial and industrial | 88 | - | - | 88 | |||||||||||||||||
Total | $ | 5,659 | $ | - | $ | - | $ | 5,659 | |||||||||||||
OREO | |||||||||||||||||||||
Construction and land development | $ | 14,465 | $ | - | $ | - | $ | 14,465 | |||||||||||||
Residential real estate | 1,116 | - | - | 1,116 | |||||||||||||||||
Farmland and other commercial enterprises | 9,152 | - | - | 9,152 | |||||||||||||||||
Total | $ | 24,733 | $ | - | $ | - | $ | 24,733 | |||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
(In thousands) | Fair Value | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||||||
Assets | Inputs | (Level 3) | |||||||||||||||||||
Description | (Level 1) | (Level 2) | |||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Collateral-dependent Impaired Loans | |||||||||||||||||||||
Real estate mortgage - construction and land development | $ | 17,921 | $ | - | $ | - | $ | 17,921 | |||||||||||||
Real estate mortgage - residential | 2,273 | - | - | 2,273 | |||||||||||||||||
Real estate mortgage - farmland and other commercial enterprises | 3,523 | - | - | 3,523 | |||||||||||||||||
Commercial and industrial | 9 | - | - | 9 | |||||||||||||||||
Consumer - secured | 4 | - | - | 4 | |||||||||||||||||
Consumer - unsecured | 113 | - | - | 113 | |||||||||||||||||
Total | $ | 23,843 | $ | - | $ | - | $ | 23,843 | |||||||||||||
OREO | |||||||||||||||||||||
Construction and land development | $ | 15,873 | $ | - | $ | - | $ | 15,873 | |||||||||||||
Residential real estate | 1,483 | - | - | 1,483 | |||||||||||||||||
Farmland and other commercial enterprises | 3,826 | - | - | 3,826 | |||||||||||||||||
Total | $ | 21,182 | $ | - | $ | - | $ | 21,182 | |||||||||||||
The following table presents impairment charges recorded in earnings on assets measured at fair value on a nonrecurring basis. | |||||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||
Impairment charges: | |||||||||||||||||||||
Collateral-dependent impaired loans | $ | 787 | $ | 4,755 | |||||||||||||||||
OREO | 4,689 | 3,120 | |||||||||||||||||||
Total | $ | 5,476 | $ | 7,875 | |||||||||||||||||
The following table presents quantitative information about unobservable inputs for assets measured on a nonrecurring basis using Level 3 measurements. | |||||||||||||||||||||
(In thousands) | Fair Value at | Valuation Technique | Unobservable Inputs | Range | Weighted Average | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Collateral-dependent impaired loans | $ | 5,659 | Discounted appraisals | Marketability discount | 0% | - | 6.30% | 1.6 | % | ||||||||||||
OREO | $ | 24,733 | Discounted appraisals | Marketability discount | 0.80% | - | 67.50% | 11.3 | % | ||||||||||||
As previously discussed, the fair value of real estate securing collateral-dependent impaired loans and OREO are based on current third party appraisals. It is often necessary, however, for the Company to discount the appraisal amounts supporting its impaired loans and OREO. These discounts relate primarily to marketing and other holding costs that are not included in certain appraisals or to update values as a result of market declines of similar properties for which newer appraisals are available. Discounts also result from contracts to sell properties entered into during the period. The range of discounts is presented in the table above for 2013. The upper end of the range identified in the table above related to OREO is the result of a few outlier transactions of small dollar properties written down to the contracted sales price, which magnified the percentage. The weighted average column is more of an indicator of the discounts applied to the appraisals. | |||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||
The table that follows represents the estimated fair values of the Company’s financial instruments made in accordance with the requirements of ASC Topic 825, “Financial Instruments.” ASC Topic 825 requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet for which it is practicable to estimate that value. The estimated fair value amounts have been determined by the Company using available market information and present value or other valuation techniques. These derived fair values are subjective in nature, involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. ASC Topic 825 excludes certain financial instruments and all nonfinancial instruments from the disclosure requirements. Accordingly, the aggregate fair value amounts presented are not intended to represent the underlying value of the Company. | |||||||||||||||||||||
The following methods and assumptions were used to estimate the fair value of each class of financial instruments not presented elsewhere for which it is practicable to estimate that value. | |||||||||||||||||||||
Cash and Cash Equivalents, Accrued Interest Receivable, and Accrued Interest Payable | |||||||||||||||||||||
The carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization or settlement. | |||||||||||||||||||||
Investment Securities Held to Maturity | |||||||||||||||||||||
Fair value is based on quoted market price, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities or with available market information through processes using benchmark yields, matrix pricing, prepayment speeds, cash flows, live trading data, and market spreads sourced from new issues, dealer quotes, and trade prices, among others sources. | |||||||||||||||||||||
Loans | |||||||||||||||||||||
The fair value of loans is estimated by discounting expected future cash flows using current discount rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Expected future cash flows are projected based on contractual cash flows adjusted for estimated prepayments. | |||||||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | |||||||||||||||||||||
It is not practical to determine the fair value of Federal Home Loan Bank and Federal Reserve Bank stock due to restrictions placed on its transferability. | |||||||||||||||||||||
Deposit Liabilities | |||||||||||||||||||||
The fair value of demand deposits, savings accounts, and certain money market deposits is the amount payable on demand at the reporting date and fair value approximates carrying value. The fair value of fixed maturity certificates of deposit is estimated by discounting the expected future cash flows using the rates currently offered for certificates of deposit with similar remaining maturities. | |||||||||||||||||||||
Federal Funds Purchased and Other Short-term Borrowings | |||||||||||||||||||||
The carrying amount is the estimated fair value for these borrowings which reprice frequently in the near term. | |||||||||||||||||||||
Securities Sold Under Agreements to Repurchase, Subordinated Notes Payable, and Other Long-term Borrowings | |||||||||||||||||||||
The fair value of these borrowings is estimated by discounting the expected future cash flows using rates currently available for debt with similar terms and remaining maturities. For subordinated notes payable, the Company uses its best estimate to determine an appropriate discount rate since active markets for similar debt transactions are very limited. | |||||||||||||||||||||
Commitments to Extend Credit and Standby Letters of Credit | |||||||||||||||||||||
Pricing of these financial instruments is based on the credit quality and relationship, fees, interest rates, probability of funding, compensating balance, and other covenants or requirements. Loan commitments generally | |||||||||||||||||||||
have fixed expiration dates, variable interest rates and contain termination and other clauses that provide for relief from funding in the event there is a significant deterioration in the credit quality of the customer. Many loan commitments are expected to, and typically do, expire without being drawn upon. The rates and terms of the Company’s commitments to lend and standby letters of credit are competitive with others in the various markets in which the Company operates. There are no unamortized fees relating to these financial instruments, as such the carrying value and fair value are both zero. | |||||||||||||||||||||
The following table presents the estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2013 and 2012. Information for available for sale investment securities is presented within this footnote in greater detail above. | |||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
(In thousands) | Carrying | Fair | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||
Amount | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 68,253 | $ | 68,253 | $ | 68,253 | $ | - | $ | - | |||||||||||
Held to maturity investment securities | 765 | 827 | - | 827 | - | ||||||||||||||||
Loans, net | 979,306 | 977,846 | - | - | 977,846 | ||||||||||||||||
Accrued interest receivable | 5,901 | 5,901 | - | 5,901 | - | ||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | 9,516 | N/A | - | - | - | ||||||||||||||||
Liabilities | |||||||||||||||||||||
Deposits | 1,410,215 | 1,412,572 | 938,700 | - | 473,872 | ||||||||||||||||
Federal funds purchased and other short-term borrowings | 29,123 | 29,123 | - | 29,123 | - | ||||||||||||||||
Securities sold under agreements to repurchase and other long-term borrowings | 127,880 | 139,375 | - | 139,375 | - | ||||||||||||||||
Subordinated notes payable to unconsolidated trusts | 48,970 | 26,070 | - | - | 26,070 | ||||||||||||||||
Accrued interest payable | 1,137 | 1,137 | - | 1,137 | - | ||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 95,855 | $ | 95,855 | $ | 95,855 | $ | - | $ | - | |||||||||||
Held to maturity investment securities | 820 | 956 | - | 956 | - | ||||||||||||||||
Loans, net | 980,550 | 979,301 | - | - | 979,301 | ||||||||||||||||
Accrued interest receivable | 6,074 | 6,074 | - | 6,074 | - | ||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | 9,516 | N/A | - | - | - | ||||||||||||||||
Liabilities | |||||||||||||||||||||
Deposits | 1,410,810 | 1,414,395 | 870,145 | - | 544,250 | ||||||||||||||||
Federal funds purchased and other short-term borrowings | 24,083 | 24,083 | - | 24,083 | - | ||||||||||||||||
Securities sold under agreements to repurchase and other long-term borrowings | 129,297 | 148,680 | - | 148,680 | - | ||||||||||||||||
Subordinated notes payable to unconsolidated trusts | 48,970 | 21,015 | - | - | 21,015 | ||||||||||||||||
Accrued interest payable | 1,370 | 1,370 | - | 1,370 | - | ||||||||||||||||
Note_19_Parent_Company_Financi
Note 19 - Parent Company Financial Statements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ' | ||||||||||||
19. Parent Company Financial Statements | |||||||||||||
Condensed Balance Sheets | |||||||||||||
December 31, (In thousands) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 36,471 | $ | 24,776 | |||||||||
Investment in subsidiaries | 185,668 | 196,406 | |||||||||||
Other assets | 851 | 862 | |||||||||||
Total assets | $ | 222,990 | $ | 222,044 | |||||||||
Liabilities | |||||||||||||
Dividends payable | $ | 188 | $ | 188 | |||||||||
Subordinated notes payable to unconsolidated trusts | 48,970 | 48,970 | |||||||||||
Other liabilities | 3,777 | 4,865 | |||||||||||
Total liabilities | 52,935 | 54,023 | |||||||||||
Shareholders’ Equity | |||||||||||||
Preferred stock | 29,988 | 29,537 | |||||||||||
Common stock | 935 | 934 | |||||||||||
Capital surplus | 51,102 | 50,934 | |||||||||||
Retained earnings | 91,242 | 79,747 | |||||||||||
Accumulated other comprehensive (loss) income | (3,212 | ) | 6,869 | ||||||||||
Total shareholders’ equity | 170,055 | 168,021 | |||||||||||
Total liabilities and shareholders’ equity | $ | 222,990 | $ | 222,044 | |||||||||
Condensed Statements of Income and Comprehensive Income | |||||||||||||
Years Ended December 31, (In thousands) | 2013 | 2012 | 2011 | ||||||||||
Income | |||||||||||||
Dividends from subsidiaries | $ | 14,566 | $ | 12,012 | $ | 4,511 | |||||||
Interest | 29 | 19 | 16 | ||||||||||
Other noninterest income | 3,740 | 3,476 | 3,369 | ||||||||||
Total income | 18,335 | 15,507 | 7,896 | ||||||||||
Expense | |||||||||||||
Interest expense - subordinated notes payable to unconsolidated trusts | 864 | 1,879 | 2,026 | ||||||||||
Interest expense on other borrowed funds | - | - | 2 | ||||||||||
Noninterest expense | 3,980 | 3,875 | 3,484 | ||||||||||
Total expense | 4,844 | 5,754 | 5,512 | ||||||||||
Income before income tax benefit and equity in undistributed income of subsidiaries | 13,491 | 9,753 | 2,384 | ||||||||||
Income tax benefit | (428 | ) | (759 | ) | (854 | ) | |||||||
Income before equity in undistributed income of subsidiaries | 13,919 | 10,512 | 3,238 | ||||||||||
Equity in undistributed (loss) income of subsidiaries | (473 | ) | 1,637 | (500 | ) | ||||||||
Net income | 13,446 | 12,149 | 2,738 | ||||||||||
Other comprehensive (loss) income | (10,081 | ) | 226 | 5,745 | |||||||||
Comprehensive income | $ | 3,365 | $ | 12,375 | $ | 8,483 | |||||||
Condensed Statements of Cash Flows | |||||||||||||
Years Ended December 31, (In thousands) | 2013 | 2012 | 2011 | ||||||||||
Cash Flows From Operating Activities | |||||||||||||
Net income | $ | 13,446 | $ | 12,149 | $ | 2,738 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Equity in undistributed loss (income) of subsidiaries | 473 | (1,637 | ) | 500 | |||||||||
Noncash employee stock purchase plan expense | 4 | 3 | 3 | ||||||||||
Change in other assets and liabilities, net | (799 | ) | (590 | ) | 1,253 | ||||||||
Deferred income tax (benefit) expense | (62 | ) | (64 | ) | 735 | ||||||||
Net cash provided by operating activities | 13,062 | 9,861 | 5,229 | ||||||||||
Cash Flows From Investing Activities | |||||||||||||
Return of equity from nonbank subsidiary | - | 500 | - | ||||||||||
Investment in bank subsidiaries | - | (2,500 | ) | (4,000 | ) | ||||||||
Proceeds from liquidation of company-owned life insurance | - | - | 2,248 | ||||||||||
Net cash used in investing activities | - | (2,000 | ) | (1,752 | ) | ||||||||
Cash Flows From Financing Activities | |||||||||||||
Dividends paid, preferred | (1,500 | ) | (1,500 | ) | (1,500 | ) | |||||||
Repurchase of common stock warrant | - | (75 | ) | - | |||||||||
Shares issued under employee stock purchase plan | 133 | 128 | 136 | ||||||||||
Net cash used in financing activities | (1,367 | ) | (1,447 | ) | (1,364 | ) | |||||||
Net increase in cash and cash equivalents | 11,695 | 6,414 | 2,113 | ||||||||||
Cash and cash equivalents at beginning of year | 24,776 | 18,362 | 16,249 | ||||||||||
Cash and cash equivalents at end of year | $ | 36,471 | $ | 24,776 | $ | 18,362 | |||||||
Note_20_Quarterly_Financial_Da
Note 20 - Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||
20. Quarterly Financial Data (Unaudited) | |||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||
Quarters Ended 2013 | 31-Mar | 30-Jun | Sept. 30 | Dec. 31 | |||||||||||||
Interest income | $ | 16,742 | $ | 16,631 | $ | 16,563 | $ | 16,797 | |||||||||
Interest expense | 3,166 | 3,038 | 2,953 | 2,838 | |||||||||||||
Net interest income | 13,576 | 13,593 | 13,610 | 13,959 | |||||||||||||
Provision for loan losses | (632 | ) | (362 | ) | (586 | ) | (1,020 | ) | |||||||||
Net interest income after provision for loan losses | 14,208 | 13,955 | 14,196 | 14,979 | |||||||||||||
Noninterest income | 5,411 | 5,441 | 5,678 | 5,586 | |||||||||||||
Noninterest expense | 14,509 | 14,722 | 15,984 | 16,358 | |||||||||||||
Income before income taxes | 5,110 | 4,674 | 3,890 | 4,207 | |||||||||||||
Income tax expense | 1,318 | 1,127 | 855 | 1,135 | |||||||||||||
Net income | 3,792 | 3,547 | 3,035 | 3,072 | |||||||||||||
Less preferred stock dividends and discount accretion | 485 | 487 | 489 | 490 | |||||||||||||
Net income available to common shareholders | $ | 3,307 | $ | 3,060 | $ | 2,546 | $ | 2,582 | |||||||||
Net income per common share, basic and diluted | $ | 0.44 | $ | 0.41 | $ | 0.34 | $ | 0.35 | |||||||||
Weighted average common shares outstanding, basic and diluted | 7,470 | 7,473 | 7,475 | 7,477 | |||||||||||||
(In thousands, except per share data) | |||||||||||||||||
Quarters Ended 2012 | 31-Mar | 30-Jun | Sept. 30 | Dec. 31 | |||||||||||||
Interest income | $ | 18,410 | $ | 18,087 | $ | 17,578 | $ | 17,147 | |||||||||
Interest expense | 5,203 | 4,720 | 4,511 | 3,824 | |||||||||||||
Net interest income | 13,207 | 13,367 | 13,067 | 13,323 | |||||||||||||
Provision for loan losses | 977 | 1,341 | (256 | ) | 710 | ||||||||||||
Net interest income after provision for loan losses | 12,230 | 12,026 | 13,323 | 12,613 | |||||||||||||
Noninterest income | 6,028 | 6,412 | 6,166 | 6,048 | |||||||||||||
Noninterest expense | 14,593 | 14,401 | 15,347 | 15,446 | |||||||||||||
Income before income taxes | 3,665 | 4,037 | 4,142 | 3,215 | |||||||||||||
Income tax expense | 356 | 890 | 1,051 | 613 | |||||||||||||
Net income | 3,309 | 3,147 | 3,091 | 2,602 | |||||||||||||
Less preferred stock dividends and discount accretion | 478 | 480 | 481 | 483 | |||||||||||||
Net income available to common shareholders | $ | 2,831 | $ | 2,667 | $ | 2,610 | $ | 2,119 | |||||||||
Net income per common share, basic and diluted | $ | 0.38 | $ | 0.36 | $ | 0.35 | $ | 0.28 | |||||||||
Weighted average common shares outstanding, basic and diluted | 7,447 | 7,454 | 7,461 | 7,466 | |||||||||||||
Note_21_Intangible_Assets
Note 21 - Intangible Assets | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Intangible Assets Disclosure [Text Block] | ' | ||||||||||||||||||||||||
21. Intangible Assets | |||||||||||||||||||||||||
Acquired core deposit and customer relationship intangible assets were as follows as of December 31 for the years indicated. | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Amortized Intangible Assets (In thousands) | Gross Carrying | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Amount | Amortization | Carrying Amount | Amortization | ||||||||||||||||||||||
Core deposit intangibles | $ | 4,524 | $ | 3,910 | $ | 614 | $ | 6,398 | $ | 5,444 | $ | 954 | |||||||||||||
Other customer relationship intangibles | 2,414 | 2,174 | 240 | 3,689 | 3,249 | 440 | |||||||||||||||||||
Total | $ | 6,938 | $ | 6,084 | $ | 854 | $ | 10,087 | $ | 8,693 | $ | 1,394 | |||||||||||||
Aggregate amortization expense of core deposit and customer relationship intangible assets was $540 thousand, $1.0 million, and $1.1 million for 2013, 2012, and 2011, respectively. Core deposit intangibles and customer relationship intangibles in the amount of $1.9 million and $1.3 million, respectively, recorded in connection with a prior business acquisition during 2006 have been removed from the gross carrying amount and accumulated amortization for 2013 due to being fully amortized. Core deposit and customer relationship intangible assets are scheduled to be fully amortized by 2015. Estimated expense over the remaining amortization period is as follows: | |||||||||||||||||||||||||
(In thousands) | Amount | ||||||||||||||||||||||||
2014 | $ | 405 | |||||||||||||||||||||||
2015 | 449 | ||||||||||||||||||||||||
Note_22_Preferred_Stock_and_Wa
Note 22 - Preferred Stock and Warrant | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Text Block Supplement [Abstract] | ' |
Preferred Stock [Text Block] | ' |
22. Preferred Stock and Warrant | |
On January 9, 2009, as part of the U.S. Department of Treasury’s (“Treasury”) Capital Purchase Program (“CPP”), the Company issued 30 thousand shares of Series A, no par value cumulative perpetual preferred stock to the Treasury for $30.0 million. The Company also issued a warrant to the Treasury as part of the CPP allowing it to purchase 223,992 shares of the Company’s common stock at an exercise price of $20.09. In June 2012, the Treasury conducted an auction in which it sold all of its investment in the Company’s Series A preferred stock to private investors. The Company received no proceeds as part of the transaction. In July 2012, the Company repurchased the warrant issued to the Treasury at a | |
mutually agreed upon price of $75 thousand. Upon settlement of the warrent repurchase, the Treasury has no remaining equity stake in the Company. | |
The Company accounted for the allocation of the proceeds received from the issuance of the preferred shares, net of transaction costs, on a pro rata basis between the Series A preferred stock and the warrant based on their relative fair values. The Company used the Black-Scholes model to estimate the fair value of the warrant. The fair value of the Series A preferred stock was estimated using a discounted cash flow methodology with a discount rate of 13%. The Company assigned $2.0 million and $28.0 million to the warrant and the Series A preferred stock, respectively. The resulting discount on the Series A preferred stock is being accreted up to the $30.0 million liquidation amount over the initial five year expected life of the Series A preferred stock. The discount accretion is being recorded as additional preferred stock dividends, resulting in an effective dividend rate of 6.56%. | |
The Series A preferred shares have a liquidation preference of $1 thousand per share (plus any accrued and unpaid dividends) and pay a cumulative cash dividend quarterly at 5% per annum during the first five years, resetting to 9% thereafter. The Company may not pay dividends on the preferred shares without prior approval from its banking regulators. So long as the preferred shares are outstanding, the Company may not declare or pay a dividend or other distribution on its common stock, and generally may not purchase, redeem or otherwise acquire any shares of its common stock, unless all accrued and unpaid dividends on the preferred shares for all past dividend periods are paid in full. Holders of the preferred shares generally have no voting rights. However, if the Company defers dividend payments on its Series A preferred shares for an aggregate of six quarterly dividend periods, the authorized number of directors of the Company will increase by two and the holders of the Series A preferred shares will have the right to elect directors to fill such director positions at the Company’s next annual meeting of stockholders or special meeting called for that purpose. The Company may redeem the preferred shares for 100% of the liquidation preference amount at any time, in whole or in part, subject to obtaining prior approval of its banking regulators. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' | ||||||||||||
Principles of Consolidation and Nature of Operations | |||||||||||||
The consolidated financial statements include the accounts of Farmers Capital Bank Corporation (the “Company” or “Parent Company”), a bank holding company, and its bank and nonbank subsidiaries. Bank subsidiaries include Farmers Bank & Capital Trust Company (“Farmers Bank”) in Frankfort, KY, United Bank & Trust Company (“United Bank”) in Versailles, KY, First Citizens Bank (“First Citizens”) in Elizabethtown, KY, and Citizens Bank of Northern Kentucky, Inc. (“Citizens Northern”) in Newport, KY. | |||||||||||||
Farmers Bank’s significant subsidiaries include EG Properties, Inc., Leasing One Corporation (“Leasing One”), and Farmers Capital Insurance Corporation (“Farmers Insurance”). EG Properties, Inc. is involved in real estate management and liquidation for certain repossessed properties of Farmers Bank. Leasing One is a commercial leasing company in Frankfort, KY, and Farmers Insurance is an insurance agency in Frankfort, KY. United Bank has one wholly-owned subsidiary, EGT Properties, Inc. EGT Properties, Inc. is involved in real estate management and liquidation for certain repossessed properties of United Bank. First Citizens has one wholly-owned subsidiary, HBJ Properties, LLC. HBJ Properties, LLC is involved in real estate management and liquidation for certain repossessed properties of First Citizens. Citizens Northern has one wholly-owned subsidiary, ENKY Properties, Inc. ENKY Properties, Inc. is involved in real estate management and liquidation for certain repossessed properties of Citizens Northern. | |||||||||||||
The Company has three active nonbank subsidiaries, FCB Services, Inc. (“FCB Services”), FFKT Insurance Services, Inc. (“FFKT Insurance”), and EKT Properties, Inc. (“EKT”). FCB Services is a data processing subsidiary located in Frankfort, KY that provides services to the Company’s banks as well as unaffiliated entities. FFKT Insurance is a captive property and casualty insurance company insuring primarily deductible exposures and uncovered liability related to properties of the Company. EKT was formed to manage and liquidate certain real estate properties repossessed by the Company. The Company has three subsidiaries organized as Delaware statutory trusts that are not consolidated into its financial statements. These trusts were formed for the purpose of issuing trust preferred securities. All significant intercompany transactions and balances are eliminated in consolidation. | |||||||||||||
The Company provides financial services at its 36 locations in 23 communities throughout Central and Northern Kentucky to individual, business, agriculture, government, and educational customers. Its primary deposit products are checking, savings, and term certificate accounts. Its primary lending products are residential mortgage, commercial lending, and consumer installment loans. Substantially all loans and leases are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans and leases are expected to be repaid from cash flow from operations of businesses. Other services include, but are not limited to, cash management services, issuing letters of credit, safe deposit box rental, and providing funds transfer services. Other financial instruments, which potentially represent concentrations of credit risk, include deposit accounts in other financial institutions and federal funds sold. | |||||||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||||||
Use of Estimates | |||||||||||||
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates used in the preparation of the financial statements are based on various factors including the current interest rate environment and the general strength of the local economy. Changes in the overall interest rate environment can significantly affect the Company’s net interest income and the value of its recorded assets and liabilities. Actual results could differ from those estimates used in the preparation of the financial statements. The allowance for loan losses, | |||||||||||||
carrying value of other real estate owned, actuarial assumptions used to calculate postretirement benefits, and the fair values of financial instruments are estimates that are particularly subject to change. | |||||||||||||
Reclassification, Policy [Policy Text Block] | ' | ||||||||||||
Reclassifications | |||||||||||||
Certain amounts in the accompanying consolidated financial statements presented for prior years have been reclassified to conform to the 2013 presentation. These reclassifications do not affect net income or total shareholders’ equity as previously reported. | |||||||||||||
Segment Reporting, Policy [Policy Text Block] | ' | ||||||||||||
Segment Information | |||||||||||||
The Company provides a broad range of financial services to individuals, corporations, and others through its 36 banking locations throughout Central and Northern Kentucky. These services primarily include the activities of lending, receiving deposits, providing cash management services, safe deposit box rental, and trust activities. While the chief decision-makers monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating segments are aggregated into one as operating results for all segments are similar. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable segment. | |||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||||||
Cash Flows | |||||||||||||
For purposes of reporting cash flows, cash and cash equivalents include the following: cash on hand, deposits from other financial institutions that have an initial maturity of less than 90 days when acquired by the Company, federal funds sold, and securities purchased under agreements to resell. Generally, federal funds sold and securities purchased under agreements to resell are purchased and sold for one-day periods. Net cash flows are reported for loan, deposit, and short-term borrowing transactions. | |||||||||||||
Marketable Securities, Policy [Policy Text Block] | ' | ||||||||||||
Investment Securities | |||||||||||||
Investments in debt and equity securities are classified into three categories. Securities that management has the positive intent and ability to hold until maturity are classified as held to maturity. Securities that are bought and held specifically for the purpose of selling them in the near term are classified as trading securities. The Company had no securities classified as trading during 2013, 2012, or 2011. All other securities are classified as available for sale. Securities are designated as available for sale if they might be sold before maturity. Securities classified as available for sale are carried at estimated fair value. Unrealized holding gains and losses for available for sale securities are reported net of deferred income taxes in other comprehensive income. Investments classified as held to maturity are carried at amortized cost. Amortized cost basis for investment securities includes adjustments made to the cost for previous other-than-temporary impairment (“OTTI”) recognized in earnings, amortization, accretion, and collection of cash. | |||||||||||||
Interest income includes amortization and accretion of purchase premiums or discounts. Premiums and discounts on securities are amortized using the interest method over the expected life of the securities without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Realized gains and losses on the sales of securities are recorded on the trade date and computed on the basis of specific identification of the adjusted cost of each security and are included in noninterest income. | |||||||||||||
The Company evaluates investment securities for OTTI at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. A decline in the market value of investment securities below cost that is deemed other-than-temporary results in a charge to earnings and the establishment of a new cost basis for the security. Substantially all of the Company’s investment securities are debt securities. In estimating OTTI for debt securities, management considers each of the following: (1) the length of time and extent to which fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether market decline was affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery in fair value. The assessment of whether an OTTI charge exists involves a high degree of subjectivity and judgment and is based on the information available to the Company at a point in time. | |||||||||||||
Investment securities classified as available for sale or held-to-maturity are generally evaluated for OTTI under Financial Accounting Standard Board (“FASB”) Accounting Standards CodificationTM (“ASC”) Topic 320, “Investments-Debt and Equity Securities.” In determining OTTI under ASC Topic 320 the Company considers many factors, including those enumerated above. When OTTI occurs, the amount of the OTTI recognized in earnings depends on whether the Company intends to sell the security or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. If the Company intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, OTTI is recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If the Company does not intend to sell the security and it is not more likely than not that it will be required to sell the security before recovery of its amortized cost basis, OTTI is separated into the amount representing the credit loss and the amount related to all other factors. The amount of the total OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected and is recognized in earnings. The amount of the total OTTI related to other factors is recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less OTTI recognized in earnings becomes the new amortized cost basis of the investment. | |||||||||||||
Federal Home Loan Bank and Federal Reserve Board Stock [Policy Text Block] | ' | ||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | |||||||||||||
Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank stock is carried at cost on the consolidated balance sheets under the caption “Other assets.” These stocks are classified as restricted securities and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. The amount outstanding at December 31, 2013 and 2012 was $9.5 million. | |||||||||||||
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | ' | ||||||||||||
Loans and Interest Income | |||||||||||||
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are reported at their unpaid principal amount outstanding adjusted for any charge-offs and deferred fees or costs on originated loans. Interest income on loans is recognized using the interest method based on loan principal amounts outstanding during the period. Interest income also includes amortization and accretion of any premiums or discounts over the expected life of acquired loans at the time of purchase or business acquisition. Loan origination fees, net of certain direct origination costs, are deferred and amortized as yield adjustments over the contractual term of the loans. | |||||||||||||
The Company disaggregates certain disclosure information related to loans, the related allowance for loan losses, and credit quality measures by either portfolio segment or by loan class. The Company segregates its loan portfolio segments based on similar risk characteristics as follows: real estate loans, commercial loans, and consumer loans. Portfolio segments are further disaggregated into classes for certain required disclosures as follows: | |||||||||||||
Portfolio Segment | Class | ||||||||||||
Real estate loans | Real estate mortgage - construction and land development | ||||||||||||
Real estate mortgage - residential | |||||||||||||
Real estate mortgage - farmland and other commercial enterprises | |||||||||||||
Commercial loans | Commercial and industrial | ||||||||||||
Depository institutions | |||||||||||||
Agriculture production and other loans to farmers | |||||||||||||
States and political subdivisions | |||||||||||||
Leases | |||||||||||||
Other | |||||||||||||
Consumer loans | Secured | ||||||||||||
Unsecured | |||||||||||||
Loan disclosures include presenting certain disaggregated information based on recorded investment. The recorded investment in a loan includes its principal amount outstanding adjusted for certain items that include net deferred loan costs or fees, unamortized premiums or discounts, charge offs, and accrued interest. The Company had a total of $492 thousand and $574 thousand of net deferred loan costs at year-end 2013 and 2012, respectively, included in the carrying | |||||||||||||
amount of loans on the balance sheet, which represents .05% and .06% of average loans outstanding for 2013 and 2012. The amount of net deferred loans costs are not material and are omitted from the computation of the recorded investment included in Note 3 that follows. Similarly, accrued interest receivable on loans was $3.4 million and $3.7 million at year-end 2013 and 2012, respectively, or .3% and .4% of average loans outstanding and has also been omitted from certain information presented in Note 3. | |||||||||||||
The Company has a loan policy in place that is amended and approved from time to time as needed to reflect current economic conditions and product offerings in its markets. The policy establishes written procedures concerning areas such as the lending authorities of loan officers, committee review and approval of certain credit requests, underwriting criteria, policy exceptions, appraisal requirements, and loan review. Credit is extended to borrowers based primarily on their ability to repay as demonstrated by income and cash flow analysis. | |||||||||||||
Loans secured by real estate make up the largest segment of the Company’s loan portfolio. If a borrower fails to repay a loan secured by real estate, the Company may liquidate the collateral in order to satisfy the amount owed. Determining the value of real estate is a key component to the lending process for real estate backed loans. If the fair value of real estate (less estimated cost to sell) securing a collateral dependent loan declines below the outstanding loan amount, the Company will write down the carrying value of the loan and thereby incur a loss. The Company uses independent third party state certified or licensed appraisers in accordance with its loan policy to mitigate risk when underwriting real estate loans. Cash flow analysis of the borrower, loan to value limits as adopted by loan policy, and other customary underwriting standards are also in place which are designed to maximize credit quality and mitigate risks associated with real estate lending. | |||||||||||||
Commercial loans are made to businesses and are secured mainly by assets such as inventory, accounts receivable, machinery, fixtures and equipment, or other business assets. Commercial lending involves significant risk, as loan repayments are more dependent on the successful operation or management of the business and its cash flows. Consumer lending includes loans to individuals mainly for personal autos, boats, or a variety of other personal uses and may be secured or unsecured. Loan repayment associated with consumer loans is highly dependent upon the borrower’s continuing financial stability, which is heavily influenced by local unemployment rates. The Company mitigates its risk exposure to each of its loan segments by analyzing the borrower’s repayment capacity, imposing restrictions on the amount it will loan compared to estimated collateral values, limiting the payback periods, and following other customary underwriting practices as adopted in its loan policy. | |||||||||||||
The accrual of interest on loans is discontinued when it is determined that the collection of interest or principal is doubtful, or when a default of interest or principal has existed for 90 days or more, unless such loan is well secured and in the process of collection. Past due status is based on the contractual terms of the loan. Interest accrued but not received for a loan placed on nonaccrual status is reversed against interest income. Cash payments received on nonaccrual loans generally are applied to principal until qualifying for return to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The Company’s policy for placing a loan on nonaccrual status or subsequently returning a loan to accrual status does not differ based on its portfolio class or segment. | |||||||||||||
Commercial and real estate loans delinquent in excess of 120 days and consumer loans delinquent in excess of 180 days are charged off, unless the collateral securing the debt is of such value that any loss appears to be unlikely. In all cases, loans are charged off at an earlier date if classified as loss under its loan grading process or as a result of regulatory examination. The Company’s charge-off policy for impaired loans does not differ from the charge-off policy for loans outside the definition of impaired. | |||||||||||||
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | ' | ||||||||||||
Loans Held for Sale | |||||||||||||
The Company’s operations include a limited amount of mortgage banking. Mortgage banking activities include the origination of fixed-rate residential mortgage loans for sale to various third-party investors. Mortgage loans originated and intended for sale in the secondary market, principally under programs with the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, and other commercial lending institutions are carried at the lower of cost or estimated fair value determined in the aggregate and included in net loans on the balance sheet until sold. | |||||||||||||
These loans are sold with the related servicing rights either retained or released by the Company depending on the economic conditions present at the time of origination. Mortgage loans held for sale included in net loans totaled $4.1 million and $2.5 million at December 31, 2013 and December 31, 2012, respectively. Mortgage banking revenues, including origination fees, servicing fees, net gains on sales of mortgage loans, and other fee income were 1.6%, 2.4%, and 1.28% of the Company’s total revenue for the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||||
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | ' | ||||||||||||
Provision and Allowance for Loan Losses | |||||||||||||
The provision for loan losses represents charges or credits made to earnings to maintain an allowance for loan losses at a level considered adequate to provide for probable incurred credit losses at the balance sheet date. The allowance for loan losses is a valuation allowance increased by the provision for loan losses and decreased by net charge-offs. Loan losses are charged against the allowance when management believes the uncollectibility of a loan is confirmed. Subsequent recoveries, if any, are credited to the allowance. | |||||||||||||
The Company estimates the adequacy of the allowance using a risk-rated methodology which is based on the Company’s past loan loss experience, known and inherent risks in the loan portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral securing loans, composition of the loan portfolio, current economic conditions, and other relevant factors. This evaluation is inherently subjective as it requires significant judgment and the use of estimates that may be susceptible to change. | |||||||||||||
The allowance for loan losses consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for current risk factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. Actual loan losses could differ significantly from the amounts estimated by management. | |||||||||||||
The Company’s risk-rated methodology includes segregating non-impaired watch list and past due loans from the general portfolio and allocating a loss percentage to these loans depending on their status. For example, watch list loans, which may be identified by the internal loan review risk-rating process or by regulatory examiner classification, are assigned a certain loss percentage while loans past due 30 days or more are assigned a different loss percentage. Each of these percentages considers past experience as well as current factors. The remainder of the general loan portfolio is segregated into portfolio segments having similar risk characteristics identified as follows: real estate loans, commercial loans, and consumer loans. Each of these portfolio segments is assigned a loss percentage based on their respective rolling historical loss rates, adjusted for qualitative risk factors. During the third quarter of 2013, the Company lengthened the look-back period it uses to determine historical loss rates to the previous 16 quarters from 12 quarters. The change in the look-back period is the result of the Company’s ongoing monitoring and evaluation of the adequacy of its allowance for loan losses. The longer look-back period better reflects the Company’s loss estimates based on current market conditions. Lengthening the look-back period resulted in a $320 thousand increase in the allowance for loan losses. | |||||||||||||
The qualitative risk factors used in the methodology are consistent with the guidance in the most recent Interagency Policy Statement on the Allowance for Loan Losses issued. Each factor is supported by a detailed analysis performed at each subsidiary bank and is both measureable and supportable. Some factors include a minimum allocation in some instances where loss levels are extremely low and it is determined to be prudent from a safety and soundness perspective. Qualitative risk factors that are used in the methodology include the following for each loan portfolio segment: | |||||||||||||
● | Delinquency trends | ||||||||||||
● | Trends in net charge-offs | ||||||||||||
● | Trends in loan volume | ||||||||||||
● | Lending philosophy risk | ||||||||||||
● | Management experience risk | ||||||||||||
● | Concentration of credit risk | ||||||||||||
● | Economic conditions risk | ||||||||||||
A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. | |||||||||||||
The Company accounts for impaired loans in accordance with ASC Topic 310, “Receivables.” ASC Topic 310 requires that impaired loans be measured at the present value of expected future cash flows, discounted at the loan’s effective interest rate, at the loan’s observable market price, or at the fair value of the collateral if the loan is collateral dependent. Impaired loans may also be classified as nonaccrual. In many circumstances, however, the Company continues to accrue interest on an impaired loan. Cash receipts on accruing impaired loans are applied to the recorded investment in the loan, including any accrued interest receivable. Cash payments received on nonaccrual impaired loans generally are applied to principal until qualifying for return to accrual status. Loans that are part of a large group of smaller-balance homogeneous loans, such as residential mortgage, consumer, and smaller-balance commercial loans, are collectively evaluated for impairment. Troubled debt restructurings are measured at the present value of estimated future cash flows using the loan’s effective interest rate at inception, or at the fair value of collateral. The Company determines the amount of reserve for troubled debt restructurings that subsequently default in accordance with its accounting policy for the allowance for loan losses. | |||||||||||||
Mortgage Servicing Rights [Policy Text Block] | ' | ||||||||||||
Mortgage Servicing Rights | |||||||||||||
Mortgage servicing rights are recognized in other assets on the Company’s consolidated balance sheet at their initial fair value on loans sold with servicing retained. Fair value is based on market prices for comparable mortgage servicing contracts when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. Mortgage servicing rights are subsequently measured using the amortization method in which the mortgage servicing right is expensed in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Impairment is evaluated based on the fair value of the rights, grouping the underlying loans by interest rates. Impairment of a grouping is reported as a valuation allowance. Capitalized mortgage servicing rights were $785 thousand and $795 thousand at December 31, 2013 and 2012, respectively. No impairment of the asset was determined to exist on either of these dates. Mortgage loans serviced for others totaled $200 million and $172 million at December 31, 2013 and 2012, respectively. Mortgage loans serviced for others are not included in the Company’s balance sheets. | |||||||||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | ||||||||||||
Fair Value of Financial Instruments | |||||||||||||
Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 18. 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 the estimates. | |||||||||||||
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | ' | ||||||||||||
Loan Commitments and Related Financial Instruments | |||||||||||||
Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, which are issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. | |||||||||||||
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | ' | ||||||||||||
Intangible Assets | |||||||||||||
Intangible assets consist of core deposit and customer relationship intangible assets arising from business acquisitions. Intangible assets are initially measured at fair value and then amortized on an accelerated method over their estimated | |||||||||||||
useful lives, which range between seven and 10 years. Such assets are evaluated for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. | |||||||||||||
Loans and Leases Receivable, Real Estate Acquired Through Foreclosure, Policy [Policy Text Block] | ' | ||||||||||||
Other Real Estate Owned | |||||||||||||
Other real estate owned (“OREO”) and held for sale in the accompanying consolidated balance sheets includes properties acquired by the Company through, or in lieu of, actual loan foreclosures. OREO is initially carried at fair value less estimated costs to sell. Fair value of assets is generally based on third party appraisals of the property that includes comparable sales data. If the carrying amount exceeds fair value less estimated costs to sell, an impairment loss is recorded through expense. These assets are subsequently accounted for at the lower of carrying amount or fair value less estimated costs to sell. Operating costs after acquisition are expensed. | |||||||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||||||
Income Taxes | |||||||||||||
Income tax expense is the total of current year income tax due or refundable and the change in deferred tax assets and liabilities, except for the deferred tax assets and liabilities related to business combinations or components of other comprehensive income. Deferred income tax assets and liabilities result from temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements that will result in taxable or deductible amounts in future years. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in years in which those temporary differences are expected to be recovered or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through income tax expense. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. | |||||||||||||
A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. | |||||||||||||
The Company files a consolidated federal income tax return with its subsidiaries. Federal income tax expense or benefit has been allocated to subsidiaries on a separate return basis. The Company’s policy is to record the accrual of interest and/or penalties relative to income tax matters, if any, in income tax expense. | |||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||||||||||
Premises and Equipment | |||||||||||||
Premises, equipment, and leasehold improvements are stated at cost less accumulated depreciation and amortization. Depreciation is computed primarily on the straight-line method over the estimated useful lives generally ranging from two to seven years for furniture and equipment and generally ten to 40 years for buildings and related components. Leasehold improvements are amortized over the shorter of the estimated useful lives or terms of the related leases on the straight-line method. Maintenance, repairs, and minor improvements are charged to operating expenses as incurred and major improvements are capitalized. The cost of assets sold or retired and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is included in noninterest income. Land is carried at cost. | |||||||||||||
Life Insurance, Corporate or Bank Owned [Text Block] | ' | ||||||||||||
Company-owned Life Insurance | |||||||||||||
The Company has purchased life insurance policies on certain key employees with their knowledge and written consent. Company-owned life insurance is recorded on the consolidated balance sheet at its cash surrender value, which is the amount that can be realized under the insurance contract at the balance sheet date. The related change in cash surrender value and proceeds received under the policies are reported on the consolidated statements of income under the caption “Income from company-owned life insurance.” | |||||||||||||
Related Party Transactions Disclosure [Text Block] | ' | ||||||||||||
Related Party Transactions | |||||||||||||
In the ordinary course of business, the Company offers loan and deposit products to its directors, executive officers, and principal shareholders - including affiliated companies of which they are principal owners (“Related Parties”). These products are offered on substantially the same terms as those prevailing at the time for comparable transactions with unrelated parties, and these receivables and deposits are included in loans and deposits in the Company’s consolidated balance sheets. Additional information related to these transactions can be found in Note 3 and Note 6. | |||||||||||||
The Company makes payments to Related Parties in the normal course of business for various services, primarily related to legal fees. For example, certain directors of the Parent Company and its subsidiary banks are partners in law firms that act as counsel to the Company. The following table represents the amount and type of payments to Related Parties, other than director fees, for the periods indicated: | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Years Ended December 31, | |||||||||||||
Legal fees | $ | 169 | $ | 445 | $ | 310 | |||||||
Commissions and fees related to the sale of repossessed commercial real estate and property management | 9 | 140 | - | ||||||||||
Insurance commissions | 8 | 24 | 28 | ||||||||||
Premises rental | - | - | 3 | ||||||||||
Other | 6 | - | 8 | ||||||||||
Total | $ | 192 | $ | 609 | $ | 349 | |||||||
Pension and Other Postretirement Plans, Policy [Policy Text Block] | ' | ||||||||||||
Retirement Plans | |||||||||||||
The Company maintains a 401(k) salary savings plan and records expense based on the amount of its matching contributions of employee deferrals. The Company also has a nonqualified supplemental retirement plan for certain key employees that it acquired in connection with the Citizens Northern acquisition. Supplemental retirement plan expense allocates the benefits over years of service. | |||||||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||||||
Net Income Per Common Share | |||||||||||||
Basic net income per common share is determined by dividing net income available to common shareholders by the weighted average total number of common shares issued and outstanding. Net income available to common shareholders represents net income adjusted for preferred stock dividends including dividends declared, accretion of discounts on preferred stock issuances, and cumulative dividends related to the current dividend period that have not been declared as of the end of the period. | |||||||||||||
Diluted net income per common share is determined by dividing net income available to common shareholders by the total weighted average number of common shares issued and outstanding plus amounts representing the dilutive effect of stock options outstanding and outstanding warrants. The effects of stock options and outstanding warrants are excluded from the computation of diluted earnings per common share in periods in which the effect would be antidilutive. Dilutive potential common shares are calculated using the treasury stock method. | |||||||||||||
Net income per common share computations were as follows for the years ended December 31, 2013, 2012, and 2011. | |||||||||||||
(In thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Years Ended December 31, | |||||||||||||
Net income, basic and diluted | $ | 13,446 | $ | 12,149 | $ | 2,738 | |||||||
Less preferred stock dividends and discount accretion | 1,951 | 1,922 | 1,896 | ||||||||||
Net income available to common shareholders, basic and diluted | $ | 11,495 | $ | 10,227 | $ | 842 | |||||||
Average common shares outstanding, basic and diluted | 7,474 | 7,457 | 7,424 | ||||||||||
Net income per common share, basic and diluted | $ | 1.54 | $ | 1.37 | $ | 0.11 | |||||||
Stock options for 22,049, 24,049, and 24,049 shares of common stock were not included in the determination of diluted net income per common share for 2013, 2012, and 2011, respectively, because they were antidilutive. There were 223,992 potential common shares associated with a warrant issued to the U.S. Treasury that were excluded from the computation of diluted net income per common share for 2011 because they were antidilutive. The Company repurchased the warrant from the Treasury during the third quarter of 2012. | |||||||||||||
Comprehensive Income, Policy [Policy Text Block] | ' | ||||||||||||
Comprehensive Income | |||||||||||||
Comprehensive income is defined as the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from nonowner sources. For the Company this includes net income, the after tax effect of changes in the net unrealized gains and losses on available for sale investment securities, and the after tax changes to the funded status of postretirement benefit plans. | |||||||||||||
Restrictions on Dividends, Loans and Advances [Text Block] | ' | ||||||||||||
Dividend Restrictions | |||||||||||||
Banking regulations require maintaining certain capital levels which limit the amount of dividends paid to the Company by its bank subsidiaries. In addition, the Parent Company and two of its subsidiary banks must obtain regulatory approval to pay dividends as a result of agreements entered into related to recent examinations. Refer to Note 17 for additional information. | |||||||||||||
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||||||
Restrictions on Cash | |||||||||||||
The Company is required to maintain funds in cash and/or on deposit with the Federal Reserve Bank in accordance with reserve requirements specified by the Federal Reserve Board of Governors. The required reserve was $19.9 million and $17.0 million at December 31, 2013 and 2012, respectively | |||||||||||||
Stockholders' Equity, Policy [Policy Text Block] | ' | ||||||||||||
Equity | |||||||||||||
Outstanding common shares purchased by the Company are retired. When common shares are purchased, the Company allocates a portion of the purchase price of the common shares that are retired to each of the following balance sheet line items: common stock, capital surplus, and retained earnings. The Company did not purchase any of its outstanding common shares during 2013 or 2012. | |||||||||||||
Trust Assets [Policy Text Block] | ' | ||||||||||||
Trust Assets | |||||||||||||
Assets of the Company’s trust departments, other than cash on deposit at subsidiary banks, are not included in the accompanying financial statements because they are not assets of the Company. | |||||||||||||
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | ' | ||||||||||||
Transfers of Financial Assets | |||||||||||||
Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. | |||||||||||||
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | ' | ||||||||||||
Long-term Assets | |||||||||||||
Premises and equipment, core deposit and other intangible assets, and other long-term assets are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. | |||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||||||||||||
Stock-Based Compensation | |||||||||||||
The Company recognizes compensation cost for its Employee Stock Purchase Plan (“ESPP”) and for stock options granted based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of ESPP and stock option awards. Compensation cost is recognized over the required service period, generally defined as the vesting period, on a straight-line basis. There have been no stock options granted by the Company since 2004, and all outstanding options are vested. | |||||||||||||
The ESPP was approved by the Company’s shareholders in 2004. The purpose of the ESPP is to provide a means by which eligible employees may purchase, at a discount, shares of the Company’s common stock through payroll withholding. The purchase price of the shares is equal to 85% of their fair market value on specified dates as defined in the plan. The ESPP was effective beginning July 1, 2004. There were 8,893, 23,368, and 34,769 shares issued under the plan during 2013, 2012, and 2011, respectively. Compensation expense related to the ESPP included in the accompanying statements of income was $36 thousand, $36 thousand, and $42 thousand in 2013, 2012, and 2011, respectively. | |||||||||||||
Following are the weighted average assumptions used and estimated fair market value for the ESPP, which is considered a compensatory plan under ASC Topic 718, “Compensation-Stock Compensation.” | |||||||||||||
ESPP | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected volatility | 45.7 | % | 53.5 | % | 65.2 | % | |||||||
Dividend yield | - | - | - | ||||||||||
Risk-free interest rate | 0.06 | 0.07 | 0.06 | ||||||||||
Expected life (in years) | 0.25 | 0.25 | 0.25 | ||||||||||
Fair value | $ | 4.01 | $ | 1.54 | $ | 1.19 | |||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||||||||||||
Adoption of New Accounting Standards | |||||||||||||
Effective January 1, 2013, the Company adopted Accounting Standards Update (“ASU”) 2013-02, Comprehensive Income (Topic 220) – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This ASU requires additional disclosure about the changes in the components of accumulated other comprehensive income, including amounts reclassified and amounts due to current period other comprehensive income. The following table presents changes in accumulated other comprehensive income by component, net of tax, for the period indicated. | |||||||||||||
(In thousands) | Unrealized Gains and Losses on Available for Sale Investment Securities | Postretirement Benefit Obligation | Total | ||||||||||
Year Ended December 31, 2013 | |||||||||||||
Beginning balance | $ | 9,411 | $ | (2,542 | ) | $ | 6,869 | ||||||
Other comprehensive (loss) income before reclassifications | (12,992 | ) | 2,778 | (10,214 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive income | (42 | ) | 175 | 133 | |||||||||
Net current-period other comprehensive (loss) income | (13,034 | ) | 2,953 | (10,081 | ) | ||||||||
Ending balance | $ | (3,623 | ) | $ | 411 | $ | (3,212 | ) | |||||
The following table presents amounts reclassified out of accumulated other comprehensive income by component for the period indicated. Line items in the statement of income affected by the reclassification are also presented. | |||||||||||||
(In thousands) | Amount Reclassified from Accumulated Other Comprehensive Income | Affected Line Item in the | |||||||||||
Year Ended December 31, 2013 | Statement Where Net Income is Presented | ||||||||||||
Unrealized gains and losses on available for sale investment securities | $ | 65 | Investment securities gains, net | ||||||||||
(23 | ) | Income tax expense | |||||||||||
$ | 42 | Net of tax | |||||||||||
Amortization related to postretirement benefits | |||||||||||||
Prior service costs | $ | (257 | ) | Salaries and employee benefits | |||||||||
Actuarial losses | (12 | ) | Salaries and employee benefits | ||||||||||
(269 | ) | Total before tax | |||||||||||
94 | Income tax benefit | ||||||||||||
$ | (175 | ) | Net of tax | ||||||||||
Total reclassifications for the period | $ | (133 | ) | Net of tax |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Schedule of Related Party Transactions [Table Text Block] | ' | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Years Ended December 31, | |||||||||||||
Legal fees | $ | 169 | $ | 445 | $ | 310 | |||||||
Commissions and fees related to the sale of repossessed commercial real estate and property management | 9 | 140 | - | ||||||||||
Insurance commissions | 8 | 24 | 28 | ||||||||||
Premises rental | - | - | 3 | ||||||||||
Other | 6 | - | 8 | ||||||||||
Total | $ | 192 | $ | 609 | $ | 349 | |||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||
(In thousands, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Years Ended December 31, | |||||||||||||
Net income, basic and diluted | $ | 13,446 | $ | 12,149 | $ | 2,738 | |||||||
Less preferred stock dividends and discount accretion | 1,951 | 1,922 | 1,896 | ||||||||||
Net income available to common shareholders, basic and diluted | $ | 11,495 | $ | 10,227 | $ | 842 | |||||||
Average common shares outstanding, basic and diluted | 7,474 | 7,457 | 7,424 | ||||||||||
Net income per common share, basic and diluted | $ | 1.54 | $ | 1.37 | $ | 0.11 | |||||||
Fair Value Measurements, Significant Assumptions | ' | ||||||||||||
ESPP | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected volatility | 45.7 | % | 53.5 | % | 65.2 | % | |||||||
Dividend yield | - | - | - | ||||||||||
Risk-free interest rate | 0.06 | 0.07 | 0.06 | ||||||||||
Expected life (in years) | 0.25 | 0.25 | 0.25 | ||||||||||
Fair value | $ | 4.01 | $ | 1.54 | $ | 1.19 | |||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||
(In thousands) | Unrealized Gains and Losses on Available for Sale Investment Securities | Postretirement Benefit Obligation | Total | ||||||||||
Year Ended December 31, 2013 | |||||||||||||
Beginning balance | $ | 9,411 | $ | (2,542 | ) | $ | 6,869 | ||||||
Other comprehensive (loss) income before reclassifications | (12,992 | ) | 2,778 | (10,214 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive income | (42 | ) | 175 | 133 | |||||||||
Net current-period other comprehensive (loss) income | (13,034 | ) | 2,953 | (10,081 | ) | ||||||||
Ending balance | $ | (3,623 | ) | $ | 411 | $ | (3,212 | ) | |||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||
(In thousands) | Amount Reclassified from Accumulated Other Comprehensive Income | Affected Line Item in the | |||||||||||
Year Ended December 31, 2013 | Statement Where Net Income is Presented | ||||||||||||
Unrealized gains and losses on available for sale investment securities | $ | 65 | Investment securities gains, net | ||||||||||
(23 | ) | Income tax expense | |||||||||||
$ | 42 | Net of tax | |||||||||||
Amortization related to postretirement benefits | |||||||||||||
Prior service costs | $ | (257 | ) | Salaries and employee benefits | |||||||||
Actuarial losses | (12 | ) | Salaries and employee benefits | ||||||||||
(269 | ) | Total before tax | |||||||||||
94 | Income tax benefit | ||||||||||||
$ | (175 | ) | Net of tax | ||||||||||
Total reclassifications for the period | $ | (133 | ) | Net of tax |
Note_2_Investment_Securities_T
Note 2 - Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Schedule of AFS and HTM Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||
December 31, 2013 (In thousands) | Amortized | Gross Unrealized | Gross Unrealized | Estimated | |||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
Available For Sale | |||||||||||||||||||||||||
Obligations of U.S. government-sponsored entities | $ | 96,750 | $ | 155 | $ | 3,155 | $ | 93,750 | |||||||||||||||||
Obligations of states and political subdivisions | 132,311 | 2,056 | 2,397 | 131,970 | |||||||||||||||||||||
Mortgage-backed securities – residential | 379,238 | 5,071 | 6,232 | 378,077 | |||||||||||||||||||||
Mortgage-backed securities – commercial | 748 | - | 59 | 689 | |||||||||||||||||||||
Corporate debt securities | 7,266 | 40 | 1,049 | 6,257 | |||||||||||||||||||||
Mutual funds and equity securities | 2,082 | 15 | 20 | 2,077 | |||||||||||||||||||||
Total securities – available for sale | $ | 618,395 | $ | 7,337 | $ | 12,912 | $ | 612,820 | |||||||||||||||||
Held To Maturity | |||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 765 | $ | 62 | $ | - | $ | 827 | |||||||||||||||||
December 31, 2012 (In thousands) | Amortized | Gross Unrealized | Gross Unrealized | Estimated | |||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
Available For Sale | |||||||||||||||||||||||||
Obligations of U.S. government-sponsored entities | $ | 75,945 | $ | 216 | $ | 66 | $ | 76,095 | |||||||||||||||||
Obligations of states and political subdivisions | 113,986 | 4,943 | 174 | 118,755 | |||||||||||||||||||||
Mortgage-backed securities – residential | 360,099 | 10,596 | 256 | 370,439 | |||||||||||||||||||||
Corporate debt securities | 6,638 | 44 | 856 | 5,826 | |||||||||||||||||||||
Mutual funds and equity securities | 1,962 | 33 | 2 | 1,993 | |||||||||||||||||||||
Total securities – available for sale | $ | 558,630 | $ | 15,832 | $ | 1,354 | $ | 573,108 | |||||||||||||||||
Held To Maturity | |||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 820 | $ | 136 | $ | - | $ | 956 | |||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||||
Available For Sale | Held To Maturity | ||||||||||||||||||||||||
December 31, 2013 (In thousands) | Amortized | Estimated | Amortized | Estimated | |||||||||||||||||||||
Cost | Fair Value | Cost | Fair Value | ||||||||||||||||||||||
Due in one year or less | $ | 3,357 | $ | 3,367 | $ | - | $ | - | |||||||||||||||||
Due after one year through five years | 115,652 | 115,449 | - | - | |||||||||||||||||||||
Due after five years through ten years | 100,109 | 97,321 | 765 | 827 | |||||||||||||||||||||
Due after ten years | 17,209 | 15,840 | - | - | |||||||||||||||||||||
Mortgage-backed securities | 379,986 | 378,766 | - | - | |||||||||||||||||||||
Total | $ | 616,313 | $ | 610,743 | $ | 765 | $ | 827 | |||||||||||||||||
Realized Gain (Loss) on Investments [Table Text Block] | ' | ||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Gross realized gains | $ | 14 | $ | 1,349 | $ | 1,529 | |||||||||||||||||||
Gross realized losses | 64 | 140 | 174 | ||||||||||||||||||||||
Net realized (loss) gain | $ | (50 | ) | $ | 1,209 | $ | 1,355 | ||||||||||||||||||
Income tax (benefit) provision related to net realized (loss) gain | $ | (18 | ) | $ | 423 | $ | 474 | ||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
December 31, 2013 (In thousands) | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
Obligations of U.S. government-sponsored entities | $ | 65,094 | $ | 2,434 | $ | 11,830 | $ | 721 | $ | 76,924 | $ | 3,155 | |||||||||||||
Obligations of states and political subdivisions | 48,715 | 1,594 | 15,095 | 803 | 63,810 | 2,397 | |||||||||||||||||||
Mortgage-backed securities – residential | 219,032 | 5,199 | 16,306 | 1,033 | 235,338 | 6,232 | |||||||||||||||||||
Mortgage-backed securities – commercial | 689 | 59 | - | - | 689 | 59 | |||||||||||||||||||
Corporate debt securities | 80 | - | 4,816 | 1,049 | 4,896 | 1,049 | |||||||||||||||||||
Mutual funds and equity securities | 716 | 17 | 22 | 3 | 738 | 20 | |||||||||||||||||||
Total | $ | 334,326 | $ | 9,303 | $ | 48,069 | $ | 3,609 | $ | 382,395 | $ | 12,912 | |||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
December 31, 2012 (In thousands) | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
Obligations of U.S. government-sponsored entities | $ | 26,433 | $ | 66 | $ | - | $ | - | $ | 26,433 | $ | 66 | |||||||||||||
Obligations of states and political subdivisions | 17,199 | 174 | - | - | 17,199 | 174 | |||||||||||||||||||
Mortgage-backed securities – residential | 39,659 | 256 | - | - | 39,659 | 256 | |||||||||||||||||||
Corporate debt securities | - | - | 4,994 | 856 | 4,994 | 856 | |||||||||||||||||||
Mutual funds and equity securities | 299 | 2 | - | - | 299 | 2 | |||||||||||||||||||
Total | $ | 83,590 | $ | 498 | $ | 4,994 | $ | 856 | $ | 88,584 | $ | 1,354 |
Note_3_Loans_and_Allowance_for1
Note 3 - Loans and Allowance for Loan Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Note 3 - Loans and Allowance for Loan Losses (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
December 31, (In thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 101,352 | $ | 102,454 | |||||||||||||||||||||||||||||
Real estate mortgage – residential | 371,582 | 368,762 | |||||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 418,147 | 425,477 | |||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and industrial | 47,426 | 46,812 | |||||||||||||||||||||||||||||||
States and political subdivisions | 21,561 | 21,472 | |||||||||||||||||||||||||||||||
Lease financing | 902 | 2,732 | |||||||||||||||||||||||||||||||
Other | 23,840 | 19,156 | |||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Secured | 8,579 | 11,732 | |||||||||||||||||||||||||||||||
Unsecured | 6,513 | 6,515 | |||||||||||||||||||||||||||||||
Total loans | 999,902 | 1,005,112 | |||||||||||||||||||||||||||||||
Less unearned income | 19 | 117 | |||||||||||||||||||||||||||||||
Total loans, net of unearned income | $ | 999,883 | $ | 1,004,995 | |||||||||||||||||||||||||||||
Schedule of Related Party Transactions [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||||||
Legal fees | $ | 169 | $ | 445 | $ | 310 | |||||||||||||||||||||||||||
Commissions and fees related to the sale of repossessed commercial real estate and property management | 9 | 140 | - | ||||||||||||||||||||||||||||||
Insurance commissions | 8 | 24 | 28 | ||||||||||||||||||||||||||||||
Premises rental | - | - | 3 | ||||||||||||||||||||||||||||||
Other | 6 | - | 8 | ||||||||||||||||||||||||||||||
Total | $ | 192 | $ | 609 | $ | 349 | |||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
(In thousands) | Real Estate | Commercial | Consumer | Total | |||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 22,254 | $ | 1,513 | $ | 678 | $ | 24,445 | |||||||||||||||||||||||||
Provision for loan losses | (2,432 | ) | (2 | ) | (166 | ) | (2,600 | ) | |||||||||||||||||||||||||
Recoveries | 327 | 155 | 221 | 703 | |||||||||||||||||||||||||||||
Loans charged off | (1,433 | ) | (257 | ) | (281 | ) | (1,971 | ) | |||||||||||||||||||||||||
Balance at end of period | $ | 18,716 | $ | 1,409 | $ | 452 | $ | 20,577 | |||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 23,538 | $ | 3,508 | $ | 1,218 | $ | 28,264 | |||||||||||||||||||||||||
Provision for loan losses | 4,930 | (1,825 | ) | (333 | ) | 2,772 | |||||||||||||||||||||||||||
Recoveries | 666 | 145 | 234 | 1,045 | |||||||||||||||||||||||||||||
Loans charged off | (6,880 | ) | (315 | ) | (441 | ) | (7,636 | ) | |||||||||||||||||||||||||
Balance at end of period | $ | 22,254 | $ | 1,513 | $ | 678 | $ | 24,445 | |||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 24,527 | $ | 3,260 | $ | 997 | $ | 28,784 | |||||||||||||||||||||||||
Provision for loan losses | 12,548 | 511 | 428 | 13,487 | |||||||||||||||||||||||||||||
Recoveries | 241 | 860 | 245 | 1,346 | |||||||||||||||||||||||||||||
Loans charged off | (13,778 | ) | (1,123 | ) | (452 | ) | (15,353 | ) | |||||||||||||||||||||||||
Balance at end of period | $ | 23,538 | $ | 3,508 | $ | 1,218 | $ | 28,264 | |||||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
As of and for the Year Ended December 31, 2013 | Unpaid | Recorded | Recorded | Total Recorded Investment | Allowance for | Average | Interest Income Recognized | Cash Basis Interest Recognized | |||||||||||||||||||||||||
(In thousands) | Principal | Investment With No Allowance | Investment With Allowance | Loan Losses | |||||||||||||||||||||||||||||
Balance | Allocated | ||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 17,234 | $ | 9,742 | $ | 4,699 | $ | 14,441 | $ | 930 | $ | 17,314 | $ | 509 | $ | 461 | |||||||||||||||||
Real estate mortgage – residential | 11,595 | 2,871 | 8,612 | 11,483 | 1,443 | 12,727 | 460 | 445 | |||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 32,102 | 12,262 | 19,746 | 32,008 | 1,443 | 32,785 | 1,546 | 1,519 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Commercial and industrial | 311 | 24 | 293 | 317 | 200 | 994 | 40 | 40 | |||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Secured | 18 | - | 18 | 18 | 15 | 19 | 1 | 1 | |||||||||||||||||||||||||
Unsecured | 71 | - | 72 | 72 | 71 | 147 | 9 | 9 | |||||||||||||||||||||||||
Total | $ | 61,331 | $ | 24,899 | $ | 33,440 | $ | 58,339 | $ | 4,102 | $ | 63,986 | $ | 2,565 | $ | 2,475 | |||||||||||||||||
As of and for the Year Ended December 31, 2012 | Unpaid | Recorded | Recorded | Total Recorded Investment | Allowance for | Average | Interest Income Recognized | Cash Basis Interest Recognized | |||||||||||||||||||||||||
(In thousands) | Principal | Investment With No Allowance | Investment With Allowance | Loan Losses | |||||||||||||||||||||||||||||
Balance | Allocated | ||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 26,831 | $ | 12,712 | $ | 11,068 | $ | 23,780 | $ | 2,075 | $ | 34,880 | $ | 871 | $ | 804 | |||||||||||||||||
Real estate mortgage – residential | 7,474 | 2,215 | 5,259 | 7,474 | 1,069 | 13,754 | 333 | 324 | |||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 33,491 | 13,294 | 18,803 | 32,097 | 1,588 | 38,077 | 1,859 | 1,876 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Commercial and industrial | 210 | - | 207 | 207 | 198 | 403 | 17 | 17 | |||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Secured | 21 | - | 21 | 21 | 17 | 66 | 6 | 6 | |||||||||||||||||||||||||
Unsecured | 309 | - | 310 | 310 | 196 | 271 | 17 | 16 | |||||||||||||||||||||||||
Total | $ | 68,336 | $ | 28,221 | $ | 35,668 | $ | 63,889 | $ | 5,143 | $ | 87,451 | $ | 3,103 | $ | 3,043 | |||||||||||||||||
Year Ended December 31, 2011 | Average | Interest Income Recognized | Cash Basis Interest Recognized | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 51,226 | $ | 719 | $ | 716 | |||||||||||||||||||||||||||
Real estate mortgage – residential | 28,732 | 1,282 | 1,271 | ||||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 67,565 | 2,847 | 2,768 | ||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Commercial and industrial | 4,174 | 205 | 164 | ||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Secured | 66 | 6 | 4 | ||||||||||||||||||||||||||||||
Unsecured | 9 | - | - | ||||||||||||||||||||||||||||||
Total | $ | 151,772 | $ | 5,059 | $ | 4,923 | |||||||||||||||||||||||||||
Loans and ALL Disaggregated Impairment Method [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
December 31, 2013 (In thousands) | Real Estate | Commercial | Consumer | Total | |||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,816 | $ | 200 | $ | 86 | $ | 4,102 | |||||||||||||||||||||||||
Collectively evaluated for impairment | 14,900 | 1,209 | 366 | 16,475 | |||||||||||||||||||||||||||||
Total ending allowance balance | $ | 18,716 | $ | 1,409 | $ | 452 | $ | 20,577 | |||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 57,932 | $ | 317 | $ | 90 | $ | 58,339 | |||||||||||||||||||||||||
Loans collectively evaluated for impairment | 833,149 | 93,393 | 15,002 | 941,544 | |||||||||||||||||||||||||||||
Total ending loan balance, net of unearned income | $ | 891,081 | $ | 93,710 | $ | 15,092 | $ | 999,883 | |||||||||||||||||||||||||
December 31, 2012 (In thousands) | Real Estate | Commercial | Consumer | Total | |||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,732 | $ | 198 | $ | 213 | $ | 5,143 | |||||||||||||||||||||||||
Collectively evaluated for impairment | 17,522 | 1,315 | 465 | 19,302 | |||||||||||||||||||||||||||||
Total ending allowance balance | $ | 22,254 | $ | 1,513 | $ | 678 | $ | 24,445 | |||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 63,351 | $ | 207 | $ | 331 | $ | 63,889 | |||||||||||||||||||||||||
Loans collectively evaluated for impairment | 833,342 | 89,848 | 17,916 | 941,106 | |||||||||||||||||||||||||||||
Total ending loan balance, net of unearned income | $ | 896,693 | $ | 90,055 | $ | 18,247 | $ | 1,004,995 | |||||||||||||||||||||||||
Non-performing Loans Including TDR's [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
December 31, 2013 (In thousands) | Nonaccrual | Restructured Loans | Loans Past Due 90 Days or More and Still Accruing | ||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 5,821 | $ | 4,391 | $ | - | |||||||||||||||||||||||||||
Real estate mortgage – residential | 5,154 | 4,826 | 10 | ||||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 12,677 | 16,987 | 434 | ||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and industrial | 160 | - | - | ||||||||||||||||||||||||||||||
Lease financing | 22 | - | - | ||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Secured | 3 | - | - | ||||||||||||||||||||||||||||||
Unsecured | 1 | 51 | - | ||||||||||||||||||||||||||||||
Total | $ | 23,838 | $ | 26,255 | $ | 444 | |||||||||||||||||||||||||||
December 31, 2012 (In thousands) | Nonaccrual | Restructured Loans | Loans Past Due 90 Days or More and Still Accruing | ||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 7,700 | $ | 8,736 | $ | - | |||||||||||||||||||||||||||
Real estate mortgage – residential | 6,025 | 634 | - | ||||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 12,878 | 16,940 | 103 | ||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and industrial | 649 | - | - | ||||||||||||||||||||||||||||||
Lease financing | 53 | - | - | ||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Secured | 9 | - | - | ||||||||||||||||||||||||||||||
Unsecured | 94 | 39 | - | ||||||||||||||||||||||||||||||
Total | $ | 27,408 | $ | 26,349 | $ | 103 | |||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | Number | Recorded | Recorded | ||||||||||||||||||||||||||||||
of Loans | Investment | Investment | |||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage – residential | 3 | $ | 309 | $ | 309 | ||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 1 | 598 | 598 | ||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 13 | 13 | ||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Secured | 3 | 16 | 16 | ||||||||||||||||||||||||||||||
Total | 8 | $ | 936 | $ | 936 | ||||||||||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage – residential | 1 | $ | 72 | $ | 72 | ||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 1 | 8,796 | 8,717 | ||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Unsecured | 1 | 38 | 38 | ||||||||||||||||||||||||||||||
Total | 3 | $ | 8,906 | $ | 8,827 | ||||||||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
December 31, 2013 (In thousands) | 30-89 | 90 Days | Total | Current | Total | ||||||||||||||||||||||||||||
Days | or More | Loans | |||||||||||||||||||||||||||||||
Past Due | Past Due | ||||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage – construction and land development | $ | 58 | $ | 613 | $ | 671 | $ | 100,681 | $ | 101,352 | |||||||||||||||||||||||
Real estate mortgage – residential | 1,225 | 2,502 | 3,727 | 367,855 | 371,582 | ||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 3,548 | 7,978 | 11,526 | 406,621 | 418,147 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and industrial | 71 | 53 | 124 | 47,302 | 47,426 | ||||||||||||||||||||||||||||
States and political subdivisions | - | - | - | 21,561 | 21,561 | ||||||||||||||||||||||||||||
Lease financing, net | - | 22 | 22 | 861 | 883 | ||||||||||||||||||||||||||||
Other | 56 | - | 56 | 23,784 | 23,840 | ||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Secured | 41 | 3 | 44 | 8,535 | 8,579 | ||||||||||||||||||||||||||||
Unsecured | 58 | 1 | 59 | 6,454 | 6,513 | ||||||||||||||||||||||||||||
Total | $ | 5,057 | $ | 11,172 | $ | 16,229 | $ | 983,654 | $ | 999,883 | |||||||||||||||||||||||
December 31, 2012 (In thousands) | 30-89 | 90 Days | Total | Current | Total | ||||||||||||||||||||||||||||
Days | or More | Loans | |||||||||||||||||||||||||||||||
Past Due | Past Due | ||||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||||
Real estate mortgage– construction and land development | $ | 908 | $ | 1,361 | $ | 2,269 | $ | 100,185 | $ | 102,454 | |||||||||||||||||||||||
Real estate mortgage – residential | 2,303 | 2,500 | 4,803 | 363,959 | 368,762 | ||||||||||||||||||||||||||||
Real estate mortgage – farmland and other commercial enterprises | 1,990 | 10,724 | 12,714 | 412,763 | 425,477 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Commercial and industrial | 108 | 53 | 161 | 46,651 | 46,812 | ||||||||||||||||||||||||||||
States and political subdivisions | - | - | - | 21,472 | 21,472 | ||||||||||||||||||||||||||||
Lease financing, net | 1 | 53 | 54 | 2,561 | 2,615 | ||||||||||||||||||||||||||||
Other | 38 | 399 | 437 | 18,719 | 19,156 | ||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Secured | 69 | - | 69 | 11,663 | 11,732 | ||||||||||||||||||||||||||||
Unsecured | 137 | - | 137 | 6,378 | 6,515 | ||||||||||||||||||||||||||||
Total | $ | 5,554 | $ | 15,090 | $ | 20,644 | $ | 984,351 | $ | 1,004,995 | |||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Real Estate | Commercial | ||||||||||||||||||||||||||||||||
31-Dec-13 | Real Estate Mortgage -Construction and Land Development | Real Estate Mortgage -Residential | Real Estate Mortgage -Farmland and Other Commercial Enterprises | Commercial and Industrial | States and Political Subdivisions | Lease Financing | Other | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Credit risk profile by internally assigned rating grades: | |||||||||||||||||||||||||||||||||
Pass | $ | 77,873 | $ | 334,104 | $ | 352,238 | $ | 45,652 | $ | 21,561 | $ | 861 | $ | 23,820 | |||||||||||||||||||
Special Mention | 7,755 | 15,120 | 29,156 | 963 | - | - | - | ||||||||||||||||||||||||||
Substandard | 15,724 | 22,358 | 36,753 | 735 | - | 22 | 20 | ||||||||||||||||||||||||||
Doubtful | - | - | - | 76 | - | - | - | ||||||||||||||||||||||||||
Total | $ | 101,352 | $ | 371,582 | $ | 418,147 | $ | 47,426 | $ | 21,561 | $ | 883 | $ | 23,840 | |||||||||||||||||||
Real Estate | Commercial | ||||||||||||||||||||||||||||||||
31-Dec-12 | Real Estate Mortgage -Construction and Land Development | Real Estate Mortgage-Residential | Real Estate Mortgage-Farmland and Other Commercial Enterprises | Commercial and Industrial | States and Political Subdivisions | Lease Financing | Other | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Credit risk profile by internally assigned rating grades: | |||||||||||||||||||||||||||||||||
Pass | $ | 68,721 | $ | 328,214 | $ | 348,918 | $ | 41,527 | $ | 21,472 | $ | 2,615 | $ | 18,592 | |||||||||||||||||||
Special Mention | 7,562 | 18,485 | 35,027 | 4,201 | - | - | 559 | ||||||||||||||||||||||||||
Substandard | 26,171 | 21,984 | 41,532 | 1,008 | - | - | 5 | ||||||||||||||||||||||||||
Doubtful | - | 79 | - | 76 | - | - | - | ||||||||||||||||||||||||||
Total | $ | 102,454 | $ | 368,762 | $ | 425,477 | $ | 46,812 | $ | 21,472 | $ | 2,615 | $ | 19,156 | |||||||||||||||||||
Credit Quality Consumer Loans [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
Consumer | Consumer | ||||||||||||||||||||||||||||||||
(In thousands) | Secured | Unsecured | Secured | Unsecured | |||||||||||||||||||||||||||||
Credit risk profile based on payment activity: | |||||||||||||||||||||||||||||||||
Performing | $ | 8,576 | $ | 6,461 | $ | 11,723 | $ | 6,382 | |||||||||||||||||||||||||
Nonperforming | 3 | 52 | 9 | 133 | |||||||||||||||||||||||||||||
Total | $ | 8,579 | $ | 6,513 | $ | 11,732 | $ | 6,515 | |||||||||||||||||||||||||
Loans To Related Parties Made In Ordinary Course Of Business [Member] | ' | ||||||||||||||||||||||||||||||||
Note 3 - Loans and Allowance for Loan Losses (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||
Schedule of Related Party Transactions [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
(In thousands) | Amount | ||||||||||||||||||||||||||||||||
Balance at December 31, 2012 | $ | 19,987 | |||||||||||||||||||||||||||||||
New loans | 5,170 | ||||||||||||||||||||||||||||||||
Repayments | (6,434 | ) | |||||||||||||||||||||||||||||||
Loans no longer meeting disclosure requirements, new loans meeting disclosure requirements, and other adjustments, net | (658 | ) | |||||||||||||||||||||||||||||||
Balance at December 31, 2013 | $ | 18,065 |
Note_4_Other_Real_Estate_Owned1
Note 4 - Other Real Estate Owned (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
OREO Detail [Table Text Block] | ' | ||||||||
December 31, (In thousands) | 2013 | 2012 | |||||||
Construction and land development | $ | 23,504 | $ | 32,360 | |||||
Residential real estate | 2,695 | 4,605 | |||||||
Farmland and other commercial enterprises | 11,627 | 15,597 | |||||||
Total | $ | 37,826 | $ | 52,562 | |||||
OREO Activity [Table Text Block] | ' | ||||||||
(In thousands) | 2013 | 2012 | |||||||
Beginning balance | $ | 52,562 | $ | 38,157 | |||||
Transfers from loans | 6,110 | 33,913 | |||||||
Transfers from premises | - | 212 | |||||||
Proceeds from sales, net | (15,169 | ) | (15,636 | ) | |||||
Loss on sales | (182 | ) | (324 | ) | |||||
Write downs and other decreases, net | (5,495 | ) | (3,760 | ) | |||||
Ending balance | $ | 37,826 | $ | 52,562 |
Note_5_Premises_and_Equipment_
Note 5 - Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
December 31, (In thousands) | 2013 | 2012 | |||||||
Land, buildings, and leasehold improvements | $ | 58,770 | $ | 57,772 | |||||
Furniture and equipment | 18,561 | 17,501 | |||||||
Total premises and equipment | 77,331 | 75,273 | |||||||
Less accumulated depreciation and amortization | 41,058 | 39,090 | |||||||
Premises and equipment, net | $ | 36,273 | $ | 36,183 |
Note_6_Deposit_Liabilities_Tab
Note 6 - Deposit Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Deposit Liabilities [Table Text Block] | ' | ||||||||
December 31, (In thousands) | 2013 | 2012 | |||||||
Noninterest Bearing | $ | 277,294 | $ | 254,912 | |||||
Interest Bearing | |||||||||
Demand | 320,503 | 296,931 | |||||||
Savings | 340,903 | 318,302 | |||||||
Time | 471,515 | 540,665 | |||||||
Total interest bearing | 1,132,921 | 1,155,898 | |||||||
Total Deposits | $ | 1,410,215 | $ | 1,410,810 | |||||
Schedule of Maturities Of Time Deposits [Table Text Block] | ' | ||||||||
(In thousands) | Amount | ||||||||
2014 | $ | 278,513 | |||||||
2015 | 87,786 | ||||||||
2016 | 58,143 | ||||||||
2017 | 34,419 | ||||||||
2018 | 8,670 | ||||||||
Thereafter | 3,984 | ||||||||
Total | $ | 471,515 |
Note_7_Federal_Funds_Purchased1
Note 7 - Federal Funds Purchased and Other Short-term Borrowings (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Schedule of Short-term Debt [Table Text Block] | ' | ||||||||
December 31, (Dollars in thousands) | 2013 | 2012 | |||||||
Federal funds purchased and securities sold under agreement to repurchase | $ | 29,123 | $ | 24,083 | |||||
Total short-term | $ | 29,123 | $ | 24,083 | |||||
Average balance during the year | $ | 29,440 | $ | 26,134 | |||||
Maximum month-end balance during the year | 32,885 | 31,632 | |||||||
Average interest rate during the year | 0.25 | % | 0.37 | % | |||||
Average interest rate at year-end | 0.25 | 0.29 |
Note_8_Securities_Sold_Under_A1
Note 8 - Securities Sold Under Agreements to Repurchase and Other Long-term Borrowings (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||||||||||
December 31, (Dollars in thousands) | 2013 | Average | 2012 | Average | |||||||||||||
Rate | Rate | ||||||||||||||||
Federal Home Loan Bank advances | $ | 27,126 | 4.14 | % | $ | 29,297 | 4.04 | % | |||||||||
Subordinated notes payable | 48,970 | 1.71 | 48,970 | 1.77 | |||||||||||||
Securities sold under agreements to repurchase | 100,754 | 3.92 | 100,000 | 3.95 | |||||||||||||
Total long-term borrowings | $ | 176,850 | 3.34 | % | $ | 178,267 | 3.36 | % | |||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | ||||||||||||||||
(In thousands) | Amount | ||||||||||||||||
2014 | $ | 8,012 | |||||||||||||||
2015 | 251 | ||||||||||||||||
2016 | 503 | ||||||||||||||||
2017 | 115,000 | ||||||||||||||||
2018 | 3,000 | ||||||||||||||||
Thereafter | 50,084 | ||||||||||||||||
Total | $ | 176,850 |
Note_9_Income_Taxes_Tables
Note 9 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||
December 31, (In thousands) | 2013 | 2012 | 2011 | ||||||||||
Currently payable | $ | 4,908 | $ | 3,953 | $ | 1,580 | |||||||
Deferred | (473 | ) | (1,043 | ) | (2,227 | ) | |||||||
Total applicable to operations | 4,435 | 2,910 | (647 | ) | |||||||||
Deferred tax charged (credited) to components of shareholders’ equity: | |||||||||||||
Unfunded status of postretirement benefits | 1,589 | (92 | ) | (500 | ) | ||||||||
Net unrealized securities (losses) gains | (7,019 | ) | 214 | 3,593 | |||||||||
Total income taxes | $ | (995 | ) | $ | 3,032 | $ | 2,446 | ||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||
December 31, | 2013 | 2012 | 2011 | ||||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | |||||||
Changes from statutory rates resulting from: | |||||||||||||
Tax-exempt interest | (6.3 | ) | (7.6 | ) | (51.5 | ) | |||||||
Nondeductible interest to carry tax-exempt obligations | 0.3 | 0.4 | 3.6 | ||||||||||
Nondeductible legal expense | - | 0.5 | - | ||||||||||
Tax credits | - | (1.8 | ) | (13.0 | ) | ||||||||
Premium income not subject to tax | (1.3 | ) | (2.5 | ) | (5.5 | ) | |||||||
Company-owned life insurance | (1.8 | ) | (3.5 | ) | (15.2 | ) | |||||||
Uncertain tax position | (.5 | ) | (.9 | ) | 14.3 | ||||||||
Other, net | (.6 | ) | (.3 | ) | 1.4 | ||||||||
Effective tax rate on pretax income | 24.8 | % | 19.3 | % | (30.9 | )% | |||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||
December 31, (In thousands) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Allowance for loan losses | $ | 7,217 | $ | 8,571 | |||||||||
Deferred directors’ fees | 285 | 281 | |||||||||||
Postretirement benefit obligations | 4,459 | 5,633 | |||||||||||
Other real estate owned | 3,568 | 2,398 | |||||||||||
Partnership investments | 1,508 | 1,444 | |||||||||||
Self-funded insurance | 213 | 164 | |||||||||||
Paid time off | 701 | 705 | |||||||||||
Depreciation | 798 | 676 | |||||||||||
Intangibles | 3,179 | 3,526 | |||||||||||
Unrealized losses on available for sale investment securities, net | 1,951 | - | |||||||||||
Other | 232 | 44 | |||||||||||
Total deferred tax assets | 24,111 | 23,442 | |||||||||||
Liabilities | |||||||||||||
Unrealized gains on available for sale investment securities, net | - | 5,066 | |||||||||||
Prepaid expenses | 596 | 505 | |||||||||||
Federal Home Loan Bank stock dividends | 1,097 | 1,087 | |||||||||||
Deferred loan fees | 772 | 811 | |||||||||||
Lease financing operations | 136 | 366 | |||||||||||
Total deferred tax liabilities | 2,601 | 7,835 | |||||||||||
Net deferred tax asset | $ | 21,510 | $ | 15,607 | |||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | ||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||
Balance at beginning of year | $ | 154 | $ | 266 | |||||||||
Reductions to tax positions of prior years | (88 | ) | (112 | ) | |||||||||
Balance at end of year | $ | 66 | $ | 154 |
Note_10_Retirement_Plans_Table
Note 10 - Retirement Plans (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Note 10 - Retirement Plans (Tables) [Line Items] | ' | ||||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||
(In thousands) | Amount Reclassified from Accumulated Other Comprehensive Income | Affected Line Item in the | |||||||
Year Ended December 31, 2013 | Statement Where Net Income is Presented | ||||||||
Unrealized gains and losses on available for sale investment securities | $ | 65 | Investment securities gains, net | ||||||
(23 | ) | Income tax expense | |||||||
$ | 42 | Net of tax | |||||||
Amortization related to postretirement benefits | |||||||||
Prior service costs | $ | (257 | ) | Salaries and employee benefits | |||||
Actuarial losses | (12 | ) | Salaries and employee benefits | ||||||
(269 | ) | Total before tax | |||||||
94 | Income tax benefit | ||||||||
$ | (175 | ) | Net of tax | ||||||
Total reclassifications for the period | $ | (133 | ) | Net of tax | |||||
Retirement Plan [Member] | ' | ||||||||
Note 10 - Retirement Plans (Tables) [Line Items] | ' | ||||||||
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | ' | ||||||||
(In thousands) | 2013 | 2012 | |||||||
Change in Benefit Obligation | |||||||||
Obligation at beginning of year | $ | 741 | $ | 706 | |||||
Service cost | 28 | 26 | |||||||
Interest cost | 29 | 29 | |||||||
Actuarial loss | 3 | 8 | |||||||
Benefit payments | (27 | ) | (28 | ) | |||||
Obligation at end of year | $ | 774 | $ | 741 | |||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||
(In thousands) | 2013 | 2012 | |||||||
Service cost | $ | 28 | $ | 26 | |||||
Interest cost | 29 | 29 | |||||||
Recognized net actuarial loss | 12 | 8 | |||||||
Net periodic benefit cost | $ | 69 | $ | 63 | |||||
Major assumptions: | |||||||||
Discount rate used to determine net period benefit cost | 4.03 | % | 4.39 | % | |||||
Discount rate used to determine benefit obligation at year end | 4.06 | 4.03 | |||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | ||||||||
(In thousands) | Supplemental | ||||||||
Retirement Plan | |||||||||
2014 | $ | 36 | |||||||
2015 | 36 | ||||||||
2016 | 36 | ||||||||
2017 | 36 | ||||||||
2018 | 36 | ||||||||
2019-2023 | 287 | ||||||||
Total | $ | 467 | |||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||
(In thousands) | 2013 | 2012 | |||||||
Unrecognized net actuarial loss | $ | 148 | $ | 157 | |||||
Total | $ | 148 | $ | 157 | |||||
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] | ' | ||||||||
(In thousands) | Supplemental | ||||||||
Retirement Plan | |||||||||
Unrecognized net actuarial gain | $ | (4 | ) | ||||||
Total | $ | (4 | ) | ||||||
Postretirement Medical Benefits [Member] | ' | ||||||||
Note 10 - Retirement Plans (Tables) [Line Items] | ' | ||||||||
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | ' | ||||||||
(In thousands) | 2013 | 2012 | |||||||
Change in Benefit Obligation | |||||||||
Obligation at beginning of year | $ | 15,935 | $ | 14,294 | |||||
Service cost | 630 | 617 | |||||||
Interest cost | 551 | 608 | |||||||
Actuarial (gain) loss | (4,277 | ) | 674 | ||||||
Participant contributions | 97 | 85 | |||||||
Benefit payments | (348 | ) | (343 | ) | |||||
Obligation at end of year | $ | 12,588 | $ | 15,935 | |||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||
(In thousands) | 2013 | 2012 | |||||||
Service cost | $ | 630 | $ | 617 | |||||
Interest cost | 551 | 608 | |||||||
Amortization of transition obligation | - | 102 | |||||||
Recognized prior service cost | 257 | 257 | |||||||
Amortization of net actuarial loss | - | 56 | |||||||
Net periodic benefit cost | $ | 1,438 | $ | 1,640 | |||||
Major assumptions: | |||||||||
Discount rate used to determine net periodic benefit cost | 4.03 | % | 4.39 | % | |||||
Discount rate used to determine benefit obligation as of year end | 4.93 | 4.03 | |||||||
Retiree participation rate (Plan 1) | 100 | 100 | |||||||
Retiree participation rate (Plan 2) | 72 | 72 | |||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | ||||||||
(In thousands) | Postretirement | ||||||||
Medical Benefits | |||||||||
2014 | $ | 340 | |||||||
2015 | 355 | ||||||||
2016 | 377 | ||||||||
2017 | 422 | ||||||||
2018 | 461 | ||||||||
2019-2023 | 2,909 | ||||||||
Total | $ | 4,864 | |||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||
(In thousands) | 2013 | 2012 | |||||||
Unrecognized net actuarial (gain) loss | $ | (1,190 | ) | $ | 3,087 | ||||
Unrecognized prior service cost | 383 | 639 | |||||||
Total | $ | (807 | ) | $ | 3,726 | ||||
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] | ' | ||||||||
(In thousands) | Postretirement | ||||||||
Medical Benefits | |||||||||
Unrecognized prior service cost | $ | 207 | |||||||
Unrecognized net actuarial gain | (63 | ) | |||||||
Total | $ | 144 | |||||||
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | ' | ||||||||
(In thousands) | 1% Increase | 1% Decrease | |||||||
Effect on total of service and interest cost components of net periodic postretirement health care benefit cost | $ | 252 | $ | (194 | ) | ||||
Effect on accumulated postretirement benefit obligation | 2,444 | (1,934 | ) |
Note_11_Common_Stock_Options_T
Note 11 - Common Stock Options (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||
2013 | |||||||||
Shares | Weighted Average | ||||||||
Exercise Price | |||||||||
Options outstanding at beginning of year | 24,049 | $ | 34.8 | ||||||
Forfeited | (2,000 | ) | 34.8 | ||||||
Options outstanding at year-end | 22,049 | $ | 34.8 | ||||||
Options exercisable at year-end | 22,049 | $ | 34.8 |
Note_13_Leases_Tables
Note 13 - Leases (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Leases [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||
(In thousands) | Operating Leases | ||||
2014 | $ | 349 | |||
2015 | 313 | ||||
2016 | 244 | ||||
2017 | 124 | ||||
2018 | 113 | ||||
Thereafter | 537 | ||||
Total | $ | 1,680 |
Note_14_Financial_Instruments_1
Note 14 - Financial Instruments With Off-Balance Sheet Risk (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Financial Instruments With Off Balance Sheet Risk [Abstract] | ' | ||||||||||||||||
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | ' | ||||||||||||||||
December 31, | 2013 | 2012 | |||||||||||||||
(In thousands) | Fixed Rate | Variable Rate | Fixed Rate | Variable Rate | |||||||||||||
Commitments to extend credit, including unused lines of credit | $ | 56,884 | $ | 82,934 | $ | 51,447 | $ | 77,176 | |||||||||
Standby letters of credit | 2,578 | 20,816 | 2,647 | 21,740 | |||||||||||||
Total | $ | 59,462 | $ | 103,750 | $ | 54,094 | $ | 98,916 |
Note_17_Regulatory_Matters_Tab
Note 17 - Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | ' | ||||||||||||||||||||||||
(Dollars in thousands) | Actual | For Capital | To Be Well-Capitalized | ||||||||||||||||||||||
Adequacy Purposes | Under Prompt Corrective | ||||||||||||||||||||||||
Action Provisions | |||||||||||||||||||||||||
31-Dec-13 | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
Tier 1 Risk-based Capital1 | |||||||||||||||||||||||||
Consolidated | $ | 216,162 | 18.95 | % | $ | 45,623 | 4 | % | N/A | N/A | |||||||||||||||
Farmers Bank | 67,409 | 17.56 | 15,351 | 4 | $ | 23,026 | 6 | % | |||||||||||||||||
United Bank2 | 51,336 | 15.06 | 13,634 | 4 | 20,450 | 6 | |||||||||||||||||||
First Citizens | 28,814 | 12.92 | 8,917 | 4 | 13,376 | 6 | |||||||||||||||||||
Citizens Northern2 | 24,455 | 13.57 | 7,208 | 4 | 10,812 | 6 | |||||||||||||||||||
Total Risk-based Capital 1 | |||||||||||||||||||||||||
Consolidated | $ | 230,497 | 20.21 | % | $ | 91,245 | 8 | % | N/A | N/A | |||||||||||||||
Farmers Bank | 72,231 | 18.82 | 30,702 | 8 | $ | 38,377 | 10 | % | |||||||||||||||||
United Bank2 | 55,664 | 16.33 | 27,267 | 8 | 34,084 | 10 | |||||||||||||||||||
First Citizens | 30,485 | 13.67 | 17,835 | 8 | 22,294 | 10 | |||||||||||||||||||
Citizens Northern2 | 26,708 | 14.82 | 14,415 | 8 | 18,019 | 10 | |||||||||||||||||||
Tier 1 Leverage Capital 3 | |||||||||||||||||||||||||
Consolidated | $ | 216,162 | 11.9 | % | $ | 72,677 | 4 | % | N/A | N/A | |||||||||||||||
Farmers Bank | 67,409 | 9.6 | 28,077 | 4 | $ | 35,096 | 5 | % | |||||||||||||||||
United Bank2 | 51,336 | 9.67 | 21,233 | 4 | 26,542 | 5 | |||||||||||||||||||
First Citizens | 28,814 | 9.03 | 12,768 | 4 | 15,960 | 5 | |||||||||||||||||||
Citizens Northern2 | 24,455 | 9.67 | 10,113 | 4 | 12,641 | 5 | |||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Tier 1 Risk-based Capital1 | |||||||||||||||||||||||||
Consolidated | $ | 206,470 | 18.27 | % | $ | 45,215 | 4 | % | N/A | N/A | |||||||||||||||
Farmers Bank2 | 69,582 | 17.94 | 15,515 | 4 | $ | 23,273 | 6 | % | |||||||||||||||||
United Bank2 | 51,695 | 15.41 | 13,420 | 4 | 20,130 | 6 | |||||||||||||||||||
First Citizens | 29,017 | 13.57 | 8,552 | 4 | 12,828 | 6 | |||||||||||||||||||
Citizens Northern2 | 23,553 | 12.97 | 7,264 | 4 | 10,896 | 6 | |||||||||||||||||||
Total Risk-based Capital 1 | |||||||||||||||||||||||||
Consolidated | $ | 220,741 | 19.53 | % | $ | 90,431 | 8 | % | N/A | N/A | |||||||||||||||
Farmers Bank2 | 74,475 | 19.2 | 31,030 | 8 | $ | 38,788 | 10 | % | |||||||||||||||||
United Bank2 | 55,980 | 16.69 | 26,839 | 8 | 33,549 | 10 | |||||||||||||||||||
First Citizens | 30,908 | 14.46 | 17,104 | 8 | 21,380 | 10 | |||||||||||||||||||
Citizens Northern2 | 25,826 | 14.22 | 14,528 | 8 | 18,159 | 10 | |||||||||||||||||||
Tier 1 Leverage Capital 3 | |||||||||||||||||||||||||
Consolidated | $ | 206,470 | 11.24 | % | $ | 73,479 | 4 | % | N/A | N/A | |||||||||||||||
Farmers Bank2 | 69,582 | 9.68 | 28,768 | 4 | $ | 35,960 | 5 | % | |||||||||||||||||
United Bank2 | 51,695 | 9.45 | 21,878 | 4 | 27,347 | 5 | |||||||||||||||||||
First Citizens | 29,017 | 9.42 | 12,327 | 4 | 15,409 | 5 | |||||||||||||||||||
Citizens Northern2 | 23,553 | 9.36 | 10,063 | 4 | 12,579 | 5 |
Note_18_Fair_Value_Measurement1
Note 18 - Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
(In thousands) | Fair Value | Quoted Prices in | Significant Other | Significant | |||||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||||||
Available For Sale Investment Securities | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Obligations of U.S. government-sponsored entities | $ | 93,750 | $ | - | $ | 93,750 | $ | - | |||||||||||||
Obligations of states and political subdivisions | 131,970 | - | 131,970 | - | |||||||||||||||||
Mortgage-backed securities – residential | 378,077 | - | 378,077 | - | |||||||||||||||||
Mortgage-backed securities – commercial | 689 | - | 689 | - | |||||||||||||||||
Corporate debt securities | 6,257 | - | 6,257 | - | |||||||||||||||||
Mutual funds and equity securities | 2,077 | 2,077 | - | - | |||||||||||||||||
Total | $ | 612,820 | $ | 2,077 | $ | 610,743 | $ | - | |||||||||||||
31-Dec-12 | |||||||||||||||||||||
Obligations of U.S. government-sponsored entities | $ | 76,095 | $ | - | $ | 76,095 | $ | - | |||||||||||||
Obligations of states and political subdivisions | 118,755 | - | 118,755 | - | |||||||||||||||||
Mortgage-backed securities – residential | 370,439 | - | 370,439 | - | |||||||||||||||||
Corporate debt securities | 5,826 | - | 5,826 | - | |||||||||||||||||
Mutual funds and equity securities | 1,993 | 1,993 | - | - | |||||||||||||||||
Total | $ | 573,108 | $ | 1,993 | $ | 571,115 | $ | - | |||||||||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | ' | ||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
(In thousands) | Fair Value | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||||||
Assets | Inputs | (Level 3) | |||||||||||||||||||
Description | (Level 1) | (Level 2) | |||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Collateral-dependent Impaired Loans | |||||||||||||||||||||
Real estate mortgage - construction and land development | $ | 334 | $ | - | $ | - | $ | 334 | |||||||||||||
Real estate mortgage - residential | 2,085 | - | - | 2,085 | |||||||||||||||||
Real estate mortgage - farmland and other commercial enterprises | 3,152 | - | - | 3,152 | |||||||||||||||||
Commercial and industrial | 88 | - | - | 88 | |||||||||||||||||
Total | $ | 5,659 | $ | - | $ | - | $ | 5,659 | |||||||||||||
OREO | |||||||||||||||||||||
Construction and land development | $ | 14,465 | $ | - | $ | - | $ | 14,465 | |||||||||||||
Residential real estate | 1,116 | - | - | 1,116 | |||||||||||||||||
Farmland and other commercial enterprises | 9,152 | - | - | 9,152 | |||||||||||||||||
Total | $ | 24,733 | $ | - | $ | - | $ | 24,733 | |||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
(In thousands) | Fair Value | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||||||
Assets | Inputs | (Level 3) | |||||||||||||||||||
Description | (Level 1) | (Level 2) | |||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Collateral-dependent Impaired Loans | |||||||||||||||||||||
Real estate mortgage - construction and land development | $ | 17,921 | $ | - | $ | - | $ | 17,921 | |||||||||||||
Real estate mortgage - residential | 2,273 | - | - | 2,273 | |||||||||||||||||
Real estate mortgage - farmland and other commercial enterprises | 3,523 | - | - | 3,523 | |||||||||||||||||
Commercial and industrial | 9 | - | - | 9 | |||||||||||||||||
Consumer - secured | 4 | - | - | 4 | |||||||||||||||||
Consumer - unsecured | 113 | - | - | 113 | |||||||||||||||||
Total | $ | 23,843 | $ | - | $ | - | $ | 23,843 | |||||||||||||
OREO | |||||||||||||||||||||
Construction and land development | $ | 15,873 | $ | - | $ | - | $ | 15,873 | |||||||||||||
Residential real estate | 1,483 | - | - | 1,483 | |||||||||||||||||
Farmland and other commercial enterprises | 3,826 | - | - | 3,826 | |||||||||||||||||
Total | $ | 21,182 | $ | - | $ | - | $ | 21,182 | |||||||||||||
Asset Impairment Charges [Text Block] | ' | ||||||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||
Impairment charges: | |||||||||||||||||||||
Collateral-dependent impaired loans | $ | 787 | $ | 4,755 | |||||||||||||||||
OREO | 4,689 | 3,120 | |||||||||||||||||||
Total | $ | 5,476 | $ | 7,875 | |||||||||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | ' | ||||||||||||||||||||
(In thousands) | Fair Value at | Valuation Technique | Unobservable Inputs | Range | Weighted Average | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Collateral-dependent impaired loans | $ | 5,659 | Discounted appraisals | Marketability discount | 0% | - | 6.30% | 1.6 | % | ||||||||||||
OREO | $ | 24,733 | Discounted appraisals | Marketability discount | 0.80% | - | 67.50% | 11.3 | % | ||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
(In thousands) | Carrying | Fair | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||
Amount | Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 68,253 | $ | 68,253 | $ | 68,253 | $ | - | $ | - | |||||||||||
Held to maturity investment securities | 765 | 827 | - | 827 | - | ||||||||||||||||
Loans, net | 979,306 | 977,846 | - | - | 977,846 | ||||||||||||||||
Accrued interest receivable | 5,901 | 5,901 | - | 5,901 | - | ||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | 9,516 | N/A | - | - | - | ||||||||||||||||
Liabilities | |||||||||||||||||||||
Deposits | 1,410,215 | 1,412,572 | 938,700 | - | 473,872 | ||||||||||||||||
Federal funds purchased and other short-term borrowings | 29,123 | 29,123 | - | 29,123 | - | ||||||||||||||||
Securities sold under agreements to repurchase and other long-term borrowings | 127,880 | 139,375 | - | 139,375 | - | ||||||||||||||||
Subordinated notes payable to unconsolidated trusts | 48,970 | 26,070 | - | - | 26,070 | ||||||||||||||||
Accrued interest payable | 1,137 | 1,137 | - | 1,137 | - | ||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 95,855 | $ | 95,855 | $ | 95,855 | $ | - | $ | - | |||||||||||
Held to maturity investment securities | 820 | 956 | - | 956 | - | ||||||||||||||||
Loans, net | 980,550 | 979,301 | - | - | 979,301 | ||||||||||||||||
Accrued interest receivable | 6,074 | 6,074 | - | 6,074 | - | ||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank Stock | 9,516 | N/A | - | - | - | ||||||||||||||||
Liabilities | |||||||||||||||||||||
Deposits | 1,410,810 | 1,414,395 | 870,145 | - | 544,250 | ||||||||||||||||
Federal funds purchased and other short-term borrowings | 24,083 | 24,083 | - | 24,083 | - | ||||||||||||||||
Securities sold under agreements to repurchase and other long-term borrowings | 129,297 | 148,680 | - | 148,680 | - | ||||||||||||||||
Subordinated notes payable to unconsolidated trusts | 48,970 | 21,015 | - | - | 21,015 | ||||||||||||||||
Accrued interest payable | 1,370 | 1,370 | - | 1,370 | - |
Note_19_Parent_Company_Financi1
Note 19 - Parent Company Financial Statements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Balance Sheet [Table Text Block] | ' | ||||||||||||
December 31, (In thousands) | 2013 | 2012 | |||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 36,471 | $ | 24,776 | |||||||||
Investment in subsidiaries | 185,668 | 196,406 | |||||||||||
Other assets | 851 | 862 | |||||||||||
Total assets | $ | 222,990 | $ | 222,044 | |||||||||
Liabilities | |||||||||||||
Dividends payable | $ | 188 | $ | 188 | |||||||||
Subordinated notes payable to unconsolidated trusts | 48,970 | 48,970 | |||||||||||
Other liabilities | 3,777 | 4,865 | |||||||||||
Total liabilities | 52,935 | 54,023 | |||||||||||
Shareholders’ Equity | |||||||||||||
Preferred stock | 29,988 | 29,537 | |||||||||||
Common stock | 935 | 934 | |||||||||||
Capital surplus | 51,102 | 50,934 | |||||||||||
Retained earnings | 91,242 | 79,747 | |||||||||||
Accumulated other comprehensive (loss) income | (3,212 | ) | 6,869 | ||||||||||
Total shareholders’ equity | 170,055 | 168,021 | |||||||||||
Total liabilities and shareholders’ equity | $ | 222,990 | $ | 222,044 | |||||||||
Condensed Income Statement [Table Text Block] | ' | ||||||||||||
Years Ended December 31, (In thousands) | 2013 | 2012 | 2011 | ||||||||||
Income | |||||||||||||
Dividends from subsidiaries | $ | 14,566 | $ | 12,012 | $ | 4,511 | |||||||
Interest | 29 | 19 | 16 | ||||||||||
Other noninterest income | 3,740 | 3,476 | 3,369 | ||||||||||
Total income | 18,335 | 15,507 | 7,896 | ||||||||||
Expense | |||||||||||||
Interest expense - subordinated notes payable to unconsolidated trusts | 864 | 1,879 | 2,026 | ||||||||||
Interest expense on other borrowed funds | - | - | 2 | ||||||||||
Noninterest expense | 3,980 | 3,875 | 3,484 | ||||||||||
Total expense | 4,844 | 5,754 | 5,512 | ||||||||||
Income before income tax benefit and equity in undistributed income of subsidiaries | 13,491 | 9,753 | 2,384 | ||||||||||
Income tax benefit | (428 | ) | (759 | ) | (854 | ) | |||||||
Income before equity in undistributed income of subsidiaries | 13,919 | 10,512 | 3,238 | ||||||||||
Equity in undistributed (loss) income of subsidiaries | (473 | ) | 1,637 | (500 | ) | ||||||||
Net income | 13,446 | 12,149 | 2,738 | ||||||||||
Other comprehensive (loss) income | (10,081 | ) | 226 | 5,745 | |||||||||
Comprehensive income | $ | 3,365 | $ | 12,375 | $ | 8,483 | |||||||
Condensed Cash Flow Statement [Table Text Block] | ' | ||||||||||||
Years Ended December 31, (In thousands) | 2013 | 2012 | 2011 | ||||||||||
Cash Flows From Operating Activities | |||||||||||||
Net income | $ | 13,446 | $ | 12,149 | $ | 2,738 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Equity in undistributed loss (income) of subsidiaries | 473 | (1,637 | ) | 500 | |||||||||
Noncash employee stock purchase plan expense | 4 | 3 | 3 | ||||||||||
Change in other assets and liabilities, net | (799 | ) | (590 | ) | 1,253 | ||||||||
Deferred income tax (benefit) expense | (62 | ) | (64 | ) | 735 | ||||||||
Net cash provided by operating activities | 13,062 | 9,861 | 5,229 | ||||||||||
Cash Flows From Investing Activities | |||||||||||||
Return of equity from nonbank subsidiary | - | 500 | - | ||||||||||
Investment in bank subsidiaries | - | (2,500 | ) | (4,000 | ) | ||||||||
Proceeds from liquidation of company-owned life insurance | - | - | 2,248 | ||||||||||
Net cash used in investing activities | - | (2,000 | ) | (1,752 | ) | ||||||||
Cash Flows From Financing Activities | |||||||||||||
Dividends paid, preferred | (1,500 | ) | (1,500 | ) | (1,500 | ) | |||||||
Repurchase of common stock warrant | - | (75 | ) | - | |||||||||
Shares issued under employee stock purchase plan | 133 | 128 | 136 | ||||||||||
Net cash used in financing activities | (1,367 | ) | (1,447 | ) | (1,364 | ) | |||||||
Net increase in cash and cash equivalents | 11,695 | 6,414 | 2,113 | ||||||||||
Cash and cash equivalents at beginning of year | 24,776 | 18,362 | 16,249 | ||||||||||
Cash and cash equivalents at end of year | $ | 36,471 | $ | 24,776 | $ | 18,362 |
Note_20_Quarterly_Financial_Da1
Note 20 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||
Quarters Ended 2013 | 31-Mar | 30-Jun | Sept. 30 | Dec. 31 | |||||||||||||
Interest income | $ | 16,742 | $ | 16,631 | $ | 16,563 | $ | 16,797 | |||||||||
Interest expense | 3,166 | 3,038 | 2,953 | 2,838 | |||||||||||||
Net interest income | 13,576 | 13,593 | 13,610 | 13,959 | |||||||||||||
Provision for loan losses | (632 | ) | (362 | ) | (586 | ) | (1,020 | ) | |||||||||
Net interest income after provision for loan losses | 14,208 | 13,955 | 14,196 | 14,979 | |||||||||||||
Noninterest income | 5,411 | 5,441 | 5,678 | 5,586 | |||||||||||||
Noninterest expense | 14,509 | 14,722 | 15,984 | 16,358 | |||||||||||||
Income before income taxes | 5,110 | 4,674 | 3,890 | 4,207 | |||||||||||||
Income tax expense | 1,318 | 1,127 | 855 | 1,135 | |||||||||||||
Net income | 3,792 | 3,547 | 3,035 | 3,072 | |||||||||||||
Less preferred stock dividends and discount accretion | 485 | 487 | 489 | 490 | |||||||||||||
Net income available to common shareholders | $ | 3,307 | $ | 3,060 | $ | 2,546 | $ | 2,582 | |||||||||
Net income per common share, basic and diluted | $ | 0.44 | $ | 0.41 | $ | 0.34 | $ | 0.35 | |||||||||
Weighted average common shares outstanding, basic and diluted | 7,470 | 7,473 | 7,475 | 7,477 | |||||||||||||
(In thousands, except per share data) | |||||||||||||||||
Quarters Ended 2012 | 31-Mar | 30-Jun | Sept. 30 | Dec. 31 | |||||||||||||
Interest income | $ | 18,410 | $ | 18,087 | $ | 17,578 | $ | 17,147 | |||||||||
Interest expense | 5,203 | 4,720 | 4,511 | 3,824 | |||||||||||||
Net interest income | 13,207 | 13,367 | 13,067 | 13,323 | |||||||||||||
Provision for loan losses | 977 | 1,341 | (256 | ) | 710 | ||||||||||||
Net interest income after provision for loan losses | 12,230 | 12,026 | 13,323 | 12,613 | |||||||||||||
Noninterest income | 6,028 | 6,412 | 6,166 | 6,048 | |||||||||||||
Noninterest expense | 14,593 | 14,401 | 15,347 | 15,446 | |||||||||||||
Income before income taxes | 3,665 | 4,037 | 4,142 | 3,215 | |||||||||||||
Income tax expense | 356 | 890 | 1,051 | 613 | |||||||||||||
Net income | 3,309 | 3,147 | 3,091 | 2,602 | |||||||||||||
Less preferred stock dividends and discount accretion | 478 | 480 | 481 | 483 | |||||||||||||
Net income available to common shareholders | $ | 2,831 | $ | 2,667 | $ | 2,610 | $ | 2,119 | |||||||||
Net income per common share, basic and diluted | $ | 0.38 | $ | 0.36 | $ | 0.35 | $ | 0.28 | |||||||||
Weighted average common shares outstanding, basic and diluted | 7,447 | 7,454 | 7,461 | 7,466 |
Note_21_Intangible_Assets_Tabl
Note 21 - Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Amortized Intangible Assets (In thousands) | Gross Carrying | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Amount | Amortization | Carrying Amount | Amortization | ||||||||||||||||||||||
Core deposit intangibles | $ | 4,524 | $ | 3,910 | $ | 614 | $ | 6,398 | $ | 5,444 | $ | 954 | |||||||||||||
Other customer relationship intangibles | 2,414 | 2,174 | 240 | 3,689 | 3,249 | 440 | |||||||||||||||||||
Total | $ | 6,938 | $ | 6,084 | $ | 854 | $ | 10,087 | $ | 8,693 | $ | 1,394 | |||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||||||||||||||||||
(In thousands) | Amount | ||||||||||||||||||||||||
2014 | $ | 405 | |||||||||||||||||||||||
2015 | 449 |
Note_1_Summary_of_Significant_2
Note 1 - Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Number of Operating Segments | 1 | ' | ' |
Number of Reportable Segments | 1 | ' | ' |
Trading Securities | $0 | $0 | $0 |
Federal Home Loan Bank Stock and Federal Reserve Bank Stock | 9,500,000 | 9,500,000 | ' |
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | 492,000 | 574,000 | ' |
Net Deferred Loan Costs Percent of Average Loans Outstanding | 0.05% | 0.06% | ' |
Interest Receivable Percent of Average Loans Outstanding | 0.30% | 0.40% | ' |
Loans Held-for-sale, Mortgages | 4,100,000 | 2,500,000 | ' |
Mortgage Banking Revenues Percent of Total Revenue | 1.60% | 2.40% | 1.28% |
Servicing Asset at Fair Value, Amount | 785,000 | 795,000 | ' |
Mortgage Loans Serviced for Others | 200,000,000 | 172,000,000 | ' |
Cash Reserve Deposit Required and Made | 19,900,000 | 17,000,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% | ' | ' |
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in Shares) | 8,893 | 23,368 | 34,769 |
Adjustments to Additional Paid in Capital, Share-based Compensation, Employee Stock Purchase Program, Requisite Service Period Recognition | 36,000 | 36,000 | 42,000 |
Impact of Method Change [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 320,000 | ' | ' |
Equity Option [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | 22,049 | 24,049 | 24,049 |
Warrant [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | ' | ' | 223,992 |
Furniture and Fixtures [Member] | Minimum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '2 years | ' | ' |
Furniture and Fixtures [Member] | Maximum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '7 years | ' | ' |
Building and Building Improvements [Member] | Minimum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '10 years | ' | ' |
Building and Building Improvements [Member] | Maximum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '40 years | ' | ' |
Loans [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Interest Receivable | $3,400,000 | $3,700,000 | ' |
Minimum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '7 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '10 years | ' | ' |
Note_1_Summary_of_Significant_3
Note 1 - Summary of Significant Accounting Policies (Details) - Related Party Transactions (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Related Party Transaction [Line Items] | ' | ' | ' |
Legal fees | $780 | $1,220 | $821 |
Premises rental | 399 | 424 | 451 |
Other | 7,843 | 7,668 | 8,682 |
Payments to Related Parties for Services Made in Ordinary Course of Business [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Legal fees | 169 | 445 | 310 |
Commissions and fees related to the sale of repossessed commercial real estate and property management | 9 | 140 | 0 |
Insurance commissions | 8 | 24 | 28 |
Premises rental | 0 | 0 | 3 |
Other | 6 | 0 | 8 |
Total | $192 | $609 | $349 |
Note_1_Summary_of_Significant_4
Note 1 - Summary of Significant Accounting Policies (Details) - Net Income (Loss) Per Common Share Computations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net Income (Loss) Per Common Share Computations [Abstract] | ' | ' | ' |
Net income, basic and diluted | $13,446 | $12,149 | $2,738 |
Less preferred stock dividends and discount accretion | 1,951 | 1,922 | 1,896 |
Net income available to common shareholders, basic and diluted | $11,495 | $10,227 | $842 |
Average common shares outstanding, basic and diluted (in Shares) | 7,474 | 7,457 | 7,424 |
Net income per common share, basic and diluted (in Dollars per share) | $1.54 | $1.37 | $0.11 |
Note_1_Summary_of_Significant_5
Note 1 - Summary of Significant Accounting Policies (Details) - Estimated Fair Market Value Assumptions - ESPP (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Estimated Fair Market Value Assumptions - ESPP [Abstract] | ' | ' | ' |
Expected volatility | 45.70% | 53.50% | 65.20% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Risk-free interest rate | 0.06% | 0.07% | 0.06% |
Expected life (in years) | '3 months | '3 months | '3 months |
Fair value (in Dollars per share) | $4.01 | $1.54 | $1.19 |
Note_1_Summary_of_Significant_6
Note 1 - Summary of Significant Accounting Policies (Details) - Changes in Accumulated Other Comprehensive Income (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Beginning balance | $6,869 |
Other comprehensive (loss) income before reclassifications | -10,214 |
Amounts reclassified from accumulated other comprehensive income | 133 |
Net current-period other comprehensive (loss) income | -10,081 |
Ending balance | -3,212 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Beginning balance | 9,411 |
Other comprehensive (loss) income before reclassifications | -12,992 |
Amounts reclassified from accumulated other comprehensive income | -42 |
Net current-period other comprehensive (loss) income | -13,034 |
Ending balance | -3,623 |
Accumulated Defined Benefit Plans Adjustment [Member] | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' |
Beginning balance | -2,542 |
Other comprehensive (loss) income before reclassifications | 2,778 |
Amounts reclassified from accumulated other comprehensive income | 175 |
Net current-period other comprehensive (loss) income | 2,953 |
Ending balance | $411 |
Note_1_Summary_of_Significant_7
Note 1 - Summary of Significant Accounting Policies (Details) - Amounts Reclassified Out of Accumulated Other Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 1 - Summary of Significant Accounting Policies (Details) - Amounts Reclassified Out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Income tax expense | ($4,435) | ($2,910) | $647 |
Net of tax | 11,495 | 10,227 | 842 |
17,881 | 15,059 | 2,091 | |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) - Amounts Reclassified Out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Unrealized gains and losses on available for sale investment securities | 65 | ' | ' |
Income tax expense | -23 | ' | ' |
Net of tax | 42 | ' | ' |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) - Amounts Reclassified Out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Income tax expense | 94 | ' | ' |
Net of tax | -175 | ' | ' |
Prior service costs | -257 | ' | ' |
Actuarial losses | -12 | ' | ' |
-269 | ' | ' | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) - Amounts Reclassified Out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Net of tax | ($133) | ' | ' |
Note_2_Investment_Securities_D
Note 2 - Investment Securities (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 2 - Investment Securities (Details) [Line Items] | ' | ' |
Available-for-sale Securities Pledged as Collateral | $277,000,000 | $285,000,000 |
Available-for-sale Securities, Gross Unrealized Loss | 12,900,000 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 3,609,000 | 856,000 |
Investment Securities Continuous Unrealized Loss Position Twelve Months or Longer | 28.00% | ' |
Available-for-sale Securities | 612,820,000 | 573,108,000 |
AFS Gross Unrealized Losses [Member] | ' | ' |
Note 2 - Investment Securities (Details) [Line Items] | ' | ' |
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss) before Taxes | -11,600,000 | ' |
Corporate Debt Securities [Member] | ' | ' |
Note 2 - Investment Securities (Details) [Line Items] | ' | ' |
Available-for-sale Securities, Gross Unrealized Loss | 1,049,000 | 856,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 1,049,000 | 856,000 |
Available-for-sale Securities | 6,257,000 | 5,826,000 |
Mortgage-backed Securities [Member] | ' | ' |
Note 2 - Investment Securities (Details) [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 1,000,000 | ' |
Single Issuer Corporate Debt Security [Member] | ' | ' |
Note 2 - Investment Securities (Details) [Line Items] | ' | ' |
Available-for-sale Securities | $4,800,000 | ' |
Note_2_Investment_Securities_D1
Note 2 - Investment Securities (Details) - The Amortized Costs and Estimated Fair Value of the Securities Portfolio (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Available For Sale | ' | ' |
Available for Sale Securities - Amortized Cost | $618,395 | $558,630 |
Available for Sale Securities - Gross Unrealized Losses | 12,900 | ' |
Available for Sale Securities - Estimated Fair Value | 612,820 | 573,108 |
Held To Maturity | ' | ' |
Held to Maturity Securities - Amortized Cost | 765 | 820 |
Held to Maturity Securities - Estimated Fair Value | 827 | 956 |
US Government-sponsored Enterprises Debt Securities [Member] | ' | ' |
Available For Sale | ' | ' |
Available for Sale Securities - Amortized Cost | 96,750 | 75,945 |
Available for Sale Securities - Gross Unrealized Gains | 155 | 216 |
Available for Sale Securities - Gross Unrealized Losses | 3,155 | 66 |
Available for Sale Securities - Estimated Fair Value | 93,750 | 76,095 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Available For Sale | ' | ' |
Available for Sale Securities - Amortized Cost | 132,311 | 113,986 |
Available for Sale Securities - Gross Unrealized Gains | 2,056 | 4,943 |
Available for Sale Securities - Gross Unrealized Losses | 2,397 | 174 |
Available for Sale Securities - Estimated Fair Value | 131,970 | 118,755 |
Held To Maturity | ' | ' |
Held to Maturity Securities - Amortized Cost | 765 | 820 |
Held to Maturity Securities - Gross Unrealized Gains | 62 | 136 |
Held to Maturity Securities - Gross Unrealized Losses | 0 | 0 |
Held to Maturity Securities - Estimated Fair Value | 827 | 956 |
Residential Mortgage Backed Securities [Member] | ' | ' |
Available For Sale | ' | ' |
Available for Sale Securities - Amortized Cost | 379,238 | 360,099 |
Available for Sale Securities - Gross Unrealized Gains | 5,071 | 10,596 |
Available for Sale Securities - Gross Unrealized Losses | 6,232 | 256 |
Available for Sale Securities - Estimated Fair Value | 378,077 | 370,439 |
Commercial Mortgage Backed Securities [Member] | ' | ' |
Available For Sale | ' | ' |
Available for Sale Securities - Amortized Cost | 748 | ' |
Available for Sale Securities - Gross Unrealized Gains | 0 | ' |
Available for Sale Securities - Gross Unrealized Losses | 59 | ' |
Available for Sale Securities - Estimated Fair Value | 689 | ' |
Corporate Debt Securities [Member] | ' | ' |
Available For Sale | ' | ' |
Available for Sale Securities - Amortized Cost | 7,266 | 6,638 |
Available for Sale Securities - Gross Unrealized Gains | 40 | 44 |
Available for Sale Securities - Gross Unrealized Losses | 1,049 | 856 |
Available for Sale Securities - Estimated Fair Value | 6,257 | 5,826 |
Mutual Funds And Equity Securities [Member] | ' | ' |
Available For Sale | ' | ' |
Available for Sale Securities - Amortized Cost | 2,082 | 1,962 |
Available for Sale Securities - Gross Unrealized Gains | 15 | 33 |
Available for Sale Securities - Gross Unrealized Losses | 20 | 2 |
Available for Sale Securities - Estimated Fair Value | 2,077 | 1,993 |
Total [Member] | ' | ' |
Available For Sale | ' | ' |
Available for Sale Securities - Amortized Cost | 618,395 | 558,630 |
Available for Sale Securities - Gross Unrealized Gains | 7,337 | 15,832 |
Available for Sale Securities - Gross Unrealized Losses | 12,912 | 1,354 |
Available for Sale Securities - Estimated Fair Value | $612,820 | $573,108 |
Note_2_Investment_Securities_D2
Note 2 - Investment Securities (Details) - The Amortized Cost and Estimated Fair Value of the Securities Portfolio by Contractual Maturity (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
The Amortized Cost and Estimated Fair Value of the Securities Portfolio by Contractual Maturity [Abstract] | ' | ' |
Due in one year or less | $3,357,000 | ' |
Due in one year or less | 3,367,000 | ' |
Due in one year or less | 0 | ' |
Due in one year or less | 0 | ' |
Due after one year through five years | 115,652,000 | ' |
Due after one year through five years | 115,449,000 | ' |
Due after one year through five years | 0 | ' |
Due after one year through five years | 0 | ' |
Due after five years through ten years | 100,109,000 | ' |
Due after five years through ten years | 97,321,000 | ' |
Due after five years through ten years | 765,000 | ' |
Due after five years through ten years | 827,000 | ' |
Due after ten years | 17,209,000 | ' |
Due after ten years | 15,840,000 | ' |
Due after ten years | 0 | ' |
Due after ten years | 0 | ' |
Mortgage-backed securities | 379,986,000 | ' |
Mortgage-backed securities | 378,766,000 | ' |
Mortgage-backed securities | 0 | ' |
Mortgage-backed securities | 0 | ' |
Total | 616,313,000 | ' |
Total | 610,743,000 | ' |
Total | 765,000 | 820,000 |
Total | $827,000 | $956,000 |
Note_2_Investment_Securities_D3
Note 2 - Investment Securities (Details) - Gross Realized Gains and Losses on the Sale of Available For Sale Investment Securities (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Gross Realized Gains and Losses on the Sale of Available For Sale Investment Securities [Abstract] | ' | ' | ' |
Gross realized gains | $14 | $1,349 | $1,529 |
Gross realized losses | 64 | 140 | 174 |
Net realized (loss) gain | -50 | 1,209 | 1,355 |
Income tax (benefit) provision related to net realized (loss) gain | ($18) | $423 | $474 |
Note_2_Investment_Securities_D4
Note 2 - Investment Securities (Details) - Investment Securities With Unrealized Losses Not Recognized in Income (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Note 2 - Investment Securities (Details) - Investment Securities With Unrealized Losses Not Recognized in Income [Line Items] | ' | ' |
Less than 12 Months, Fair Value | $334,326 | $83,590 |
Less than 12 Months, Unrealized Losses | 9,303 | 498 |
12 Months or More, Fair Value | 48,069 | 4,994 |
12 Months or More, Unrealized Losses | 3,609 | 856 |
Total, Fair Value | 382,395 | 88,584 |
Total, Unrealized Losses | 12,912 | 1,354 |
US Government-sponsored Enterprises Debt Securities [Member] | ' | ' |
Note 2 - Investment Securities (Details) - Investment Securities With Unrealized Losses Not Recognized in Income [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 65,094 | 26,433 |
Less than 12 Months, Unrealized Losses | 2,434 | 66 |
12 Months or More, Fair Value | 11,830 | 0 |
12 Months or More, Unrealized Losses | 721 | 0 |
Total, Fair Value | 76,924 | 26,433 |
Total, Unrealized Losses | 3,155 | 66 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Note 2 - Investment Securities (Details) - Investment Securities With Unrealized Losses Not Recognized in Income [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 48,715 | 17,199 |
Less than 12 Months, Unrealized Losses | 1,594 | 174 |
12 Months or More, Fair Value | 15,095 | 0 |
12 Months or More, Unrealized Losses | 803 | 0 |
Total, Fair Value | 63,810 | 17,199 |
Total, Unrealized Losses | 2,397 | 174 |
Residential Mortgage Backed Securities [Member] | ' | ' |
Note 2 - Investment Securities (Details) - Investment Securities With Unrealized Losses Not Recognized in Income [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 219,032 | 39,659 |
Less than 12 Months, Unrealized Losses | 5,199 | 256 |
12 Months or More, Fair Value | 16,306 | 0 |
12 Months or More, Unrealized Losses | 1,033 | 0 |
Total, Fair Value | 235,338 | 39,659 |
Total, Unrealized Losses | 6,232 | 256 |
Commercial Mortgage Backed Securities [Member] | ' | ' |
Note 2 - Investment Securities (Details) - Investment Securities With Unrealized Losses Not Recognized in Income [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 689 | ' |
Less than 12 Months, Unrealized Losses | 59 | ' |
12 Months or More, Fair Value | 0 | ' |
12 Months or More, Unrealized Losses | 0 | ' |
Total, Fair Value | 689 | ' |
Total, Unrealized Losses | 59 | ' |
Corporate Debt Securities [Member] | ' | ' |
Note 2 - Investment Securities (Details) - Investment Securities With Unrealized Losses Not Recognized in Income [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 80 | 0 |
Less than 12 Months, Unrealized Losses | 0 | 0 |
12 Months or More, Fair Value | 4,816 | 4,994 |
12 Months or More, Unrealized Losses | 1,049 | 856 |
Total, Fair Value | 4,896 | 4,994 |
Total, Unrealized Losses | 1,049 | 856 |
Mutual Funds And Equity Securities [Member] | ' | ' |
Note 2 - Investment Securities (Details) - Investment Securities With Unrealized Losses Not Recognized in Income [Line Items] | ' | ' |
Less than 12 Months, Fair Value | 716 | 299 |
Less than 12 Months, Unrealized Losses | 17 | 2 |
12 Months or More, Fair Value | 22 | 0 |
12 Months or More, Unrealized Losses | 3 | 0 |
Total, Fair Value | 738 | 299 |
Total, Unrealized Losses | $20 | $2 |
Note_3_Loans_and_Allowance_for2
Note 3 - Loans and Allowance for Loan Losses (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ' | ' |
Loans Pledged as Collateral | $484,000,000 | $466,000,000 |
Loans and Leases Receivable, Gross | 999,902,000 | 1,005,112,000 |
Impaired Financing Receivable, Related Allowance | 4,102,000 | 5,143,000 |
Financing Receivable, Modifications, Number of Contracts | 8 | 3 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | 0 |
TDR Financing Receivable [Member] | Real Estate Mortgage Residential [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ' | ' |
Impaired Financing Receivable, Related Allowance | ' | 5,000 |
TDR Financing Receivable [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ' | ' |
Impaired Financing Receivable, Related Allowance | 2,700,000 | 2,900,000 |
Interest Rate As Modified [Member] | Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | 5.00% |
Interest Rate As Modified [Member] | Real Estate Mortgage Residential [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | 4.13% |
Interest Rate Original [Member] | Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | 7.25% |
Interest Rate Original [Member] | Real Estate Mortgage Residential [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | 6.00% |
TDR Financing Receivable [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ' | ' |
Loans and Leases Receivable, Impaired, Commitment to Lend | 0 | 0 |
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 37,000 | 442,000 |
Debt by Borrowers Discharged under Chapter Seven Bankruptcy [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 7 | ' |
Financing Receivable, Modifications, Recorded Investment | 338,000 | ' |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | 1 |
Real Estate Mortgage Residential [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | 1 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 15,000 | 72,000 |
Directors Executive Officers Principal Shareholders And Immediate Family Members [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | $18,100,000 | ' |
Note_3_Loans_and_Allowance_for3
Note 3 - Loans and Allowance for Loan Losses (Details) - Major Classifications of Loans Outstanding (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Major Classifications of Loans Outstanding [Abstract] | ' | ' |
Real estate mortgage – construction and land development | $101,352 | $102,454 |
Real estate mortgage – residential | 371,582 | 368,762 |
Real estate mortgage – farmland and other commercial enterprises | 418,147 | 425,477 |
Commercial and industrial | 47,426 | 46,812 |
States and political subdivisions | 21,561 | 21,472 |
Lease financing | 902 | 2,732 |
Other | 23,840 | 19,156 |
Secured | 8,579 | 11,732 |
Unsecured | 6,513 | 6,515 |
Total loans | 999,902 | 1,005,112 |
Less unearned income | 19 | 117 |
Total loans, net of unearned income | $999,883 | $1,004,995 |
Note_3_Loans_and_Allowance_for4
Note 3 - Loans and Allowance for Loan Losses (Details) - Activity of Loan Balances - Directors, Executive Officers, and Principal Shareholders (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Activity of Loan Balances - Directors, Executive Officers, and Principal Shareholders [Abstract] | ' |
Balance | $19,987 |
New loans | 5,170 |
Repayments | -6,434 |
Loans no longer meeting disclosure requirements, new loans meeting disclosure requirements, and other adjustments, net | -658 |
Balance | $18,065 |
Note_3_Loans_and_Allowance_for5
Note 3 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | $24,445 | $28,264 | $28,784 |
Provision for loan losses | -2,600 | 2,772 | 13,487 |
Recoveries | 703 | 1,045 | 1,346 |
Loans charged off | -1,971 | -7,636 | -15,353 |
Balance at end of period | 20,577 | 24,445 | 28,264 |
Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 22,254 | 23,538 | 24,527 |
Provision for loan losses | -2,432 | 4,930 | 12,548 |
Recoveries | 327 | 666 | 241 |
Loans charged off | -1,433 | -6,880 | -13,778 |
Balance at end of period | 18,716 | 22,254 | 23,538 |
Commercial Portfolio Segment [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 1,513 | 3,508 | 3,260 |
Provision for loan losses | -2 | -1,825 | 511 |
Recoveries | 155 | 145 | 860 |
Loans charged off | -257 | -315 | -1,123 |
Balance at end of period | 1,409 | 1,513 | 3,508 |
Consumer Portfolio Segment [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Balance at beginning of period | 678 | 1,218 | 997 |
Provision for loan losses | -166 | -333 | 428 |
Recoveries | 221 | 234 | 245 |
Loans charged off | -281 | -441 | -452 |
Balance at end of period | $452 | $678 | $1,218 |
Note_3_Loans_and_Allowance_for6
Note 3 - Loans and Allowance for Loan Losses (Details) - Individually Impaired Loans by Class of Loans (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | $61,331 | $68,336 | ' |
Recorded Investment With No Allowance | 24,899 | 28,221 | ' |
Recorded Investment With Allowance | 33,440 | 35,668 | ' |
Total Recorded Investment | 58,339 | 63,889 | ' |
Allowance for Loan Losses Allocated | 4,102 | 5,143 | ' |
Average | 63,986 | 87,451 | 151,772 |
Interest Income Recognized | 2,565 | 3,103 | 5,059 |
Cash Basis Interest Recognized | 2,475 | 3,043 | 4,923 |
Real Estate Construction And Land Development [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 17,234 | 26,831 | ' |
Recorded Investment With No Allowance | 9,742 | 12,712 | ' |
Recorded Investment With Allowance | 4,699 | 11,068 | ' |
Total Recorded Investment | 14,441 | 23,780 | ' |
Allowance for Loan Losses Allocated | 930 | 2,075 | ' |
Average | 17,314 | 34,880 | 51,226 |
Interest Income Recognized | 509 | 871 | 719 |
Cash Basis Interest Recognized | 461 | 804 | 716 |
Real Estate Mortgage Residential [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 11,595 | 7,474 | ' |
Recorded Investment With No Allowance | 2,871 | 2,215 | ' |
Recorded Investment With Allowance | 8,612 | 5,259 | ' |
Total Recorded Investment | 11,483 | 7,474 | ' |
Allowance for Loan Losses Allocated | 1,443 | 1,069 | ' |
Average | 12,727 | 13,754 | 28,732 |
Interest Income Recognized | 460 | 333 | 1,282 |
Cash Basis Interest Recognized | 445 | 324 | 1,271 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 32,102 | 33,491 | ' |
Recorded Investment With No Allowance | 12,262 | 13,294 | ' |
Recorded Investment With Allowance | 19,746 | 18,803 | ' |
Total Recorded Investment | 32,008 | 32,097 | ' |
Allowance for Loan Losses Allocated | 1,443 | 1,588 | ' |
Average | 32,785 | 38,077 | 67,565 |
Interest Income Recognized | 1,546 | 1,859 | 2,847 |
Cash Basis Interest Recognized | 1,519 | 1,876 | 2,768 |
Commercial And Industrial [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 311 | 210 | ' |
Recorded Investment With No Allowance | 24 | 0 | ' |
Recorded Investment With Allowance | 293 | 207 | ' |
Total Recorded Investment | 317 | 207 | ' |
Allowance for Loan Losses Allocated | 200 | 198 | ' |
Average | 994 | 403 | 4,174 |
Interest Income Recognized | 40 | 17 | 205 |
Cash Basis Interest Recognized | 40 | 17 | 164 |
Consumer Secured [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 18 | 21 | ' |
Recorded Investment With No Allowance | 0 | 0 | ' |
Recorded Investment With Allowance | 18 | 21 | ' |
Total Recorded Investment | 18 | 21 | ' |
Allowance for Loan Losses Allocated | 15 | 17 | ' |
Average | 19 | 66 | 66 |
Interest Income Recognized | 1 | 6 | 6 |
Cash Basis Interest Recognized | 1 | 6 | 4 |
Consumer Unsecured [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 71 | 309 | ' |
Recorded Investment With No Allowance | 0 | 0 | ' |
Recorded Investment With Allowance | 72 | 310 | ' |
Total Recorded Investment | 72 | 310 | ' |
Allowance for Loan Losses Allocated | 71 | 196 | ' |
Average | 147 | 271 | 9 |
Interest Income Recognized | 9 | 17 | 0 |
Cash Basis Interest Recognized | $9 | $16 | $0 |
Note_3_Loans_and_Allowance_for7
Note 3 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses and the Recorded Investment in Loans by Portfolio Segment (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Note 3 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses and the Recorded Investment in Loans by Portfolio Segment [Line Items] | ' | ' | ' | ' |
Allowance for loan losses, individually evaluated for impairment, | $4,102 | $5,143 | ' | ' |
Allowance for loan losses, collectively evaluated for impairment | 16,475 | 19,302 | ' | ' |
Total ending allowance balance | 20,577 | 24,445 | 28,264 | 28,784 |
Loans individually evaluated for impairment | 58,339 | 63,889 | ' | ' |
Loans collectively evaluated for impairment | 941,544 | 941,106 | ' | ' |
Total ending loan balance, net of unearned income | 999,883 | 1,004,995 | ' | ' |
Real Estate Loans [Member] | ' | ' | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses and the Recorded Investment in Loans by Portfolio Segment [Line Items] | ' | ' | ' | ' |
Allowance for loan losses, individually evaluated for impairment, | 3,816 | 4,732 | ' | ' |
Allowance for loan losses, collectively evaluated for impairment | 14,900 | 17,522 | ' | ' |
Total ending allowance balance | 18,716 | 22,254 | 23,538 | 24,527 |
Loans individually evaluated for impairment | 57,932 | 63,351 | ' | ' |
Loans collectively evaluated for impairment | 833,149 | 833,342 | ' | ' |
Total ending loan balance, net of unearned income | 891,081 | 896,693 | ' | ' |
Commercial Portfolio Segment [Member] | ' | ' | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses and the Recorded Investment in Loans by Portfolio Segment [Line Items] | ' | ' | ' | ' |
Allowance for loan losses, individually evaluated for impairment, | 200 | 198 | ' | ' |
Allowance for loan losses, collectively evaluated for impairment | 1,209 | 1,315 | ' | ' |
Total ending allowance balance | 1,409 | 1,513 | 3,508 | 3,260 |
Loans individually evaluated for impairment | 317 | 207 | ' | ' |
Loans collectively evaluated for impairment | 93,393 | 89,848 | ' | ' |
Total ending loan balance, net of unearned income | 93,710 | 90,055 | ' | ' |
Consumer Portfolio Segment [Member] | ' | ' | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses and the Recorded Investment in Loans by Portfolio Segment [Line Items] | ' | ' | ' | ' |
Allowance for loan losses, individually evaluated for impairment, | 86 | 213 | ' | ' |
Allowance for loan losses, collectively evaluated for impairment | 366 | 465 | ' | ' |
Total ending allowance balance | 452 | 678 | 1,218 | 997 |
Loans individually evaluated for impairment | 90 | 331 | ' | ' |
Loans collectively evaluated for impairment | 15,002 | 17,916 | ' | ' |
Total ending loan balance, net of unearned income | $15,092 | $18,247 | ' | ' |
Note_3_Loans_and_Allowance_for8
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Nonperforming Loans by Class of Loans (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Real Estate Construction And Land Development [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Nonperforming Loans by Class of Loans [Line Items] | ' | ' |
Nonaccrual | $5,821 | $7,700 |
Restructured Loans | 4,391 | 8,736 |
Loans Past Due 90 Days Or More And Still Accruing | 0 | 0 |
Real Estate Mortgage Residential [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Nonperforming Loans by Class of Loans [Line Items] | ' | ' |
Nonaccrual | 5,154 | 6,025 |
Restructured Loans | 4,826 | 634 |
Loans Past Due 90 Days Or More And Still Accruing | 10 | 0 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Nonperforming Loans by Class of Loans [Line Items] | ' | ' |
Nonaccrual | 12,677 | 12,878 |
Restructured Loans | 16,987 | 16,940 |
Loans Past Due 90 Days Or More And Still Accruing | 434 | 103 |
Commercial And Industrial [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Nonperforming Loans by Class of Loans [Line Items] | ' | ' |
Nonaccrual | 160 | 649 |
Restructured Loans | 0 | 0 |
Loans Past Due 90 Days Or More And Still Accruing | 0 | 0 |
Lease Financing [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Nonperforming Loans by Class of Loans [Line Items] | ' | ' |
Nonaccrual | 22 | 53 |
Restructured Loans | 0 | 0 |
Loans Past Due 90 Days Or More And Still Accruing | 0 | 0 |
Consumer Secured [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Nonperforming Loans by Class of Loans [Line Items] | ' | ' |
Nonaccrual | 3 | 9 |
Restructured Loans | 0 | 0 |
Loans Past Due 90 Days Or More And Still Accruing | 0 | 0 |
Consumer Unsecured [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Nonperforming Loans by Class of Loans [Line Items] | ' | ' |
Nonaccrual | 1 | 94 |
Restructured Loans | 51 | 39 |
Loans Past Due 90 Days Or More And Still Accruing | 0 | 0 |
Total [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Nonperforming Loans by Class of Loans [Line Items] | ' | ' |
Nonaccrual | 23,838 | 27,408 |
Restructured Loans | 26,255 | 26,349 |
Loans Past Due 90 Days Or More And Still Accruing | $444 | $103 |
Note_3_Loans_and_Allowance_for9
Note 3 - Loans and Allowance for Loan Losses (Details) - Loans by Class Modified as Troubled Debt Restructurings (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 8 | 3 |
Real Estate Mortgage Residential [Member] | TDR Identified Current Period [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 3 | 1 |
Pre-Modification Outstanding Recorded Investment | 309 | 72 |
Post-Modification Outstanding Recorded Investment | 309 | 72 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | TDR Identified Current Period [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | 598 | 8,796 |
Post-Modification Outstanding Recorded Investment | 598 | 8,717 |
Commercial And Industrial [Member] | TDR Identified Current Period [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | ' |
Pre-Modification Outstanding Recorded Investment | 13 | ' |
Post-Modification Outstanding Recorded Investment | 13 | ' |
Consumer Secured [Member] | TDR Identified Current Period [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 3 | ' |
Pre-Modification Outstanding Recorded Investment | 16 | ' |
Post-Modification Outstanding Recorded Investment | 16 | ' |
Consumer Unsecured [Member] | TDR Identified Current Period [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | 1 |
Pre-Modification Outstanding Recorded Investment | ' | 38 |
Post-Modification Outstanding Recorded Investment | ' | 38 |
TDR Identified Current Period [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 8 | 3 |
Pre-Modification Outstanding Recorded Investment | 936 | 8,906 |
Post-Modification Outstanding Recorded Investment | 936 | 8,827 |
Recovered_Sheet1
Note 3 - Loans and Allowance for Loan Losses (Details) - Aging Analysis of Loans (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total Loans | $999,883 | $1,004,995 |
Real Estate Construction And Land Development [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 58 | 908 |
90 Days Or More Past Due | 613 | 1,361 |
Total | 671 | 2,269 |
Current | 100,681 | 100,185 |
Total Loans | 101,352 | 102,454 |
Real Estate Mortgage Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 1,225 | 2,303 |
90 Days Or More Past Due | 2,502 | 2,500 |
Total | 3,727 | 4,803 |
Current | 367,855 | 363,959 |
Total Loans | 371,582 | 368,762 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 3,548 | 1,990 |
90 Days Or More Past Due | 7,978 | 10,724 |
Total | 11,526 | 12,714 |
Current | 406,621 | 412,763 |
Total Loans | 418,147 | 425,477 |
Commercial And Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 71 | 108 |
90 Days Or More Past Due | 53 | 53 |
Total | 124 | 161 |
Current | 47,302 | 46,651 |
Total Loans | 47,426 | 46,812 |
States and Political Subdivisions [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 0 | 0 |
90 Days Or More Past Due | 0 | 0 |
Total | 0 | 0 |
Current | 21,561 | 21,472 |
Total Loans | 21,561 | 21,472 |
Lease Financing [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 0 | 1 |
90 Days Or More Past Due | 22 | 53 |
Total | 22 | 54 |
Current | 861 | 2,561 |
Total Loans | 883 | 2,615 |
Commercial Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 56 | 38 |
90 Days Or More Past Due | 0 | 399 |
Total | 56 | 437 |
Current | 23,784 | 18,719 |
Total Loans | 23,840 | 19,156 |
Consumer Secured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 41 | 69 |
90 Days Or More Past Due | 3 | 0 |
Total | 44 | 69 |
Current | 8,535 | 11,663 |
Total Loans | 8,579 | 11,732 |
Consumer Unsecured [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 58 | 137 |
90 Days Or More Past Due | 1 | 0 |
Total | 59 | 137 |
Current | 6,454 | 6,378 |
Total Loans | 6,513 | 6,515 |
Total [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-89 Days Past Due | 5,057 | 5,554 |
90 Days Or More Past Due | 11,172 | 15,090 |
Total | 16,229 | 20,644 |
Current | 983,654 | 984,351 |
Total Loans | $999,883 | $1,004,995 |
Recovered_Sheet2
Note 3 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | $999,883 | $1,004,995 |
Real Estate Construction And Land Development [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 77,873 | 68,721 |
Real Estate Construction And Land Development [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 7,755 | 7,562 |
Real Estate Construction And Land Development [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 15,724 | 26,171 |
Real Estate Construction And Land Development [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Real Estate Construction And Land Development [Member] | Total [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 101,352 | 102,454 |
Real Estate Construction And Land Development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 101,352 | 102,454 |
Real Estate Mortgage Residential [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 334,104 | 328,214 |
Real Estate Mortgage Residential [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 15,120 | 18,485 |
Real Estate Mortgage Residential [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 22,358 | 21,984 |
Real Estate Mortgage Residential [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 79 |
Real Estate Mortgage Residential [Member] | Total [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 371,582 | 368,762 |
Real Estate Mortgage Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 371,582 | 368,762 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 352,238 | 348,918 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 29,156 | 35,027 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 36,753 | 41,532 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | Total [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 418,147 | 425,477 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 418,147 | 425,477 |
Commercial And Industrial [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 45,652 | 41,527 |
Commercial And Industrial [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 963 | 4,201 |
Commercial And Industrial [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 735 | 1,008 |
Commercial And Industrial [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 76 | 76 |
Commercial And Industrial [Member] | Total [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 47,426 | 46,812 |
Commercial And Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 47,426 | 46,812 |
States and Political Subdivisions [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 21,561 | 21,472 |
States and Political Subdivisions [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
States and Political Subdivisions [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
States and Political Subdivisions [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
States and Political Subdivisions [Member] | Total [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 21,561 | 21,472 |
States and Political Subdivisions [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 21,561 | 21,472 |
Lease Financing [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 861 | 2,615 |
Lease Financing [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Lease Financing [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 22 | 0 |
Lease Financing [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Lease Financing [Member] | Total [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 883 | 2,615 |
Lease Financing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 883 | 2,615 |
Commercial Other [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 23,820 | 18,592 |
Commercial Other [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 559 |
Commercial Other [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 20 | 5 |
Commercial Other [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Commercial Other [Member] | Total [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 23,840 | 19,156 |
Commercial Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | $23,840 | $19,156 |
Recovered_Sheet3
Note 3 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class-Consumer (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class-Consumer [Line Items] | ' | ' |
Loans | $999,883 | $1,004,995 |
Consumer Secured [Member] | Performing Financing Receivable [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class-Consumer [Line Items] | ' | ' |
Loans | 8,576 | 11,723 |
Consumer Secured [Member] | Nonperforming Financing Receivable [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class-Consumer [Line Items] | ' | ' |
Loans | 3 | 9 |
Consumer Secured [Member] | Total [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class-Consumer [Line Items] | ' | ' |
Loans | 8,579 | 11,732 |
Consumer Secured [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class-Consumer [Line Items] | ' | ' |
Loans | 8,579 | 11,732 |
Consumer Unsecured [Member] | Performing Financing Receivable [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class-Consumer [Line Items] | ' | ' |
Loans | 6,461 | 6,382 |
Consumer Unsecured [Member] | Nonperforming Financing Receivable [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class-Consumer [Line Items] | ' | ' |
Loans | 52 | 133 |
Consumer Unsecured [Member] | Total [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class-Consumer [Line Items] | ' | ' |
Loans | 6,513 | 6,515 |
Consumer Unsecured [Member] | ' | ' |
Note 3 - Loans and Allowance for Loan Losses (Details) - Risk Category of Loans by Class-Consumer [Line Items] | ' | ' |
Loans | $6,513 | $6,515 |
Note_4_Other_Real_Estate_Owned2
Note 4 - Other Real Estate Owned (Details) - Other Real Estate Owned (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Note 4 - Other Real Estate Owned (Details) - Other Real Estate Owned [Line Items] | ' | ' | ' |
Other Real Estate Owned | $37,826 | $52,562 | $38,157 |
Construction and Land Development OREO [Member] | ' | ' | ' |
Note 4 - Other Real Estate Owned (Details) - Other Real Estate Owned [Line Items] | ' | ' | ' |
Other Real Estate Owned | 23,504 | 32,360 | ' |
Residential Real Estate OREO [Member] | ' | ' | ' |
Note 4 - Other Real Estate Owned (Details) - Other Real Estate Owned [Line Items] | ' | ' | ' |
Other Real Estate Owned | 2,695 | 4,605 | ' |
Farmland and Other Commercial Enterprises OREO [Member] | ' | ' | ' |
Note 4 - Other Real Estate Owned (Details) - Other Real Estate Owned [Line Items] | ' | ' | ' |
Other Real Estate Owned | 11,627 | 15,597 | ' |
OREO [Member] | ' | ' | ' |
Note 4 - Other Real Estate Owned (Details) - Other Real Estate Owned [Line Items] | ' | ' | ' |
Other Real Estate Owned | $37,826 | $52,562 | ' |
Note_4_Other_Real_Estate_Owned3
Note 4 - Other Real Estate Owned (Details) - OREO Activity (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 4 - Other Real Estate Owned (Details) - OREO Activity [Line Items] | ' | ' | ' |
Balance | $52,562 | $38,157 | ' |
Proceeds from sales, net | -15,169 | -15,636 | ' |
Loss on sales | -182 | -324 | ' |
Write downs and other decreases, net | -5,495 | -3,760 | ' |
Balance | 37,826 | 52,562 | ' |
From Loans [Member] | ' | ' | ' |
Note 4 - Other Real Estate Owned (Details) - OREO Activity [Line Items] | ' | ' | ' |
Transfers | 6,110 | 33,913 | 26,586 |
From Premises [Member] | ' | ' | ' |
Note 4 - Other Real Estate Owned (Details) - OREO Activity [Line Items] | ' | ' | ' |
Transfers | $0 | $212 | $0 |
Note_5_Premises_and_Equipment_1
Note 5 - Premises and Equipment (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Depreciation, Depletion and Amortization | $3.40 | $3.40 | $3.50 |
Note_5_Premises_and_Equipment_2
Note 5 - Premises and Equipment (Details) - Premises and Equipment (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Premises and Equipment [Abstract] | ' | ' |
Land, buildings, and leasehold improvements | $58,770 | $57,772 |
Furniture and equipment | 18,561 | 17,501 |
Total premises and equipment | 77,331 | 75,273 |
Less accumulated depreciation and amortization | 41,058 | 39,090 |
Premises and equipment, net | $36,273 | $36,183 |
Note_6_Deposit_Liabilities_Det
Note 6 - Deposit Liabilities (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 22, 2010 | Jul. 21, 2010 | |
Disclosure Text Block [Abstract] | ' | ' | ' | ' | ' |
Time Deposits, $100,000 or More | $156,000,000 | $181,000,000 | ' | ' | ' |
Interest Expense, Time Deposits, $100,000 or More | 1,800,000 | 2,900,000 | 4,500,000 | ' | ' |
FDIC Standard Maximum Insurance Amount Per Depositor | ' | ' | ' | 250,000 | 100,000 |
Time Deposits 250000 Or More | 30,400,000 | 32,200,000 | ' | ' | ' |
Related Party Deposit Liabilities | $19,000,000 | $19,100,000 | ' | ' | ' |
Note_6_Deposit_Liabilities_Det1
Note 6 - Deposit Liabilities (Details) - Deposits (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
Noninterest Bearing | $277,294 | $254,912 |
Interest Bearing | ' | ' |
Demand | 320,503 | 296,931 |
Savings | 340,903 | 318,302 |
Time | 471,515 | 540,665 |
Total interest bearing | 1,132,921 | 1,155,898 |
Total Deposits | $1,410,215 | $1,410,810 |
Note_6_Deposit_Liabilities_Det2
Note 6 - Deposit Liabilities (Details) - Scheduled Maturities of Time Deposits (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Scheduled Maturities of Time Deposits [Abstract] | ' |
2014 | $278,513 |
2015 | 87,786 |
2016 | 58,143 |
2017 | 34,419 |
2018 | 8,670 |
Thereafter | 3,984 |
Total | $471,515 |
Note_7_Federal_Funds_Purchased2
Note 7 - Federal Funds Purchased and Other Short-term Borrowings (Details) - Federal Funds Purchased and Other Short-Term Borrowings (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Federal Funds Purchased and Other Short-Term Borrowings [Abstract] | ' | ' |
Federal funds purchased and securities sold under agreement to repurchase | $29,123 | $24,083 |
Total short-term | 29,123 | 24,083 |
Average balance during the year | 29,440 | 26,134 |
Maximum month-end balance during the year | $32,885 | $31,632 |
Average interest rate during the year | 0.25% | 0.37% |
Average interest rate at year-end | 0.25% | 0.29% |
Note_8_Securities_Sold_Under_A2
Note 8 - Securities Sold Under Agreements to Repurchase and Other Long-term Borrowings (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2005 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2005 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2007 | Dec. 31, 2012 | Oct. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2007 | Dec. 31, 2013 | |
Amount Allowable In Tier 1 Capital [Member] | Amount Allowable In Tier 1 Capital [Member] | Long-Term Repurchase Agreements Leverage Transaction [Member] | Long-Term Repurchase Agreements Leverage Transaction [Member] | Farmers Capital Bank Trust I [Member] | Farmers Capital Bank Trust I [Member] | Farmers Capital Bank Trust I [Member] | Farmers Capital Bank Trust II [Member] | Farmers Capital Bank Trust II [Member] | Farmers Capital Bank Trust II [Member] | Farmers Capital Bank Trust III [Member] | Farmers Capital Bank Trust III [Member] | Farmers Capital Bank Trust III [Member] | Farmers Capital Bank Trust III [Member] | Putable [Member] | Putable [Member] | Long-Term Repurchase Agreements Leverage Transaction [Member] | Other Long-term Repurchase Agreements [Member] | ||||
Note 8 - Securities Sold Under Agreements to Repurchase and Other Long-term Borrowings (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate, Range from | 2.99% | 2.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate, Range to | 6.90% | 6.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal Home Loan Bank, Advances, Activity for Year, Average Interest Rate for Year | 4.14% | 4.04% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal Home Loan Bank Advances General Debt Obligations Remaining Maturity Period | '7 years | '8 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Federal Home Loan Bank Advances | $27,126,000 | $29,297,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $26,000,000 | $28,000,000 | ' | ' |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 101,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Trust Preferred Securities | ' | ' | ' | 47,500,000 | 47,500,000 | ' | ' | ' | 10,000,000 | ' | ' | 15,000,000 | ' | ' | 22,500,000 | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.60% | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate (in Basis Points) | ' | ' | ' | ' | ' | ' | ' | 1.50% | ' | ' | 1.65% | ' | ' | 1.32% | ' | ' | ' | ' | ' | ' | ' |
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | 48,970,000 | 48,970,000 | ' | ' | ' | ' | ' | 10,300,000 | ' | 10,300,000 | 15,500,000 | ' | 15,500,000 | 23,200,000 | ' | 23,200,000 | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | ' | ' | ' | ' | ' | ' | ' | 1.75% | ' | 1.81% | 1.90% | ' | 1.96% | 1.56% | ' | 1.63% | ' | ' | ' | ' | ' |
Securities Sold under Agreements to Repurchase | $100,754,000 | $100,000,000 | ' | ' | ' | $100,000,000 | $200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $754,000 |
Assets Sold under Agreements to Repurchase, Interest Rate | 3.92% | 3.95% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.95% | 1.17% |
Value as Percentage of Outstanding Principal Balance | ' | ' | 106.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_8_Securities_Sold_Under_A3
Note 8 - Securities Sold Under Agreements to Repurchase and Other Long-term Borrowings (Details) - Long-Term Borrowings (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Long-Term Borrowings [Abstract] | ' | ' |
Federal Home Loan Bank advances (in Dollars) | $27,126 | $29,297 |
Federal Home Loan Bank advances | 4.14% | 4.04% |
Subordinated notes payable (in Dollars) | 48,970 | 48,970 |
Subordinated notes payable | 1.71% | 1.77% |
Securities sold under agreements to repurchase (in Dollars) | 100,754 | 100,000 |
Securities sold under agreements to repurchase | 3.92% | 3.95% |
Total long-term borrowings (in Dollars) | $176,850 | $178,267 |
Total long-term borrowings | 3.34% | 3.36% |
Note_8_Securities_Sold_Under_A4
Note 8 - Securities Sold Under Agreements to Repurchase and Other Long-term Borrowings (Details) - Long-Term Securities Maturities (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Long-Term Securities Maturities [Abstract] | ' | ' |
2014 | $8,012 | ' |
2015 | 251 | ' |
2016 | 503 | ' |
2017 | 115,000 | ' |
2018 | 3,000 | ' |
Thereafter | 50,084 | ' |
Total | $176,850 | $178,267 |
Note_9_Income_Taxes_Details
Note 9 - Income Taxes (Details) (USD $) | 12 Months Ended | 36 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Mar. 31, 2011 | |
Note 9 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' | ' |
Unrecognized Tax Benefits | ' | ' | ' | ' | $449,000 |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 12,000 | 23,000 | ' | 12,000 | 47,000 |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | ' | ' | ' | 371,000 | ' |
Unrecognized Tax Benefits, Interest on Income Taxes Expense | ' | ' | 32,000 | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties Accrued | 0 | 0 | 0 | 0 | ' |
Unrecognized Tax Benefits, Income Tax Penalties Expense | 0 | 0 | 0 | ' | ' |
Tax [Member] | ' | ' | ' | ' | ' |
Note 9 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' | ' |
Unrecognized Tax Benefits | 66,000 | 154,000 | 266,000 | 66,000 | 402,000 |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | -88,000 | -112,000 | ' | ' | ' |
Interest On Taxes [Member] | ' | ' | ' | ' | ' |
Note 9 - Income Taxes (Details) [Line Items] | ' | ' | ' | ' | ' |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | $11,000 | $9,000 | ' | ' | ' |
Note_9_Income_Taxes_Details_In
Note 9 - Income Taxes (Details) - Income Tax Expense (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Expense [Abstract] | ' | ' | ' |
Currently payable | $4,908 | $3,953 | $1,580 |
Deferred | -473 | -1,043 | -2,227 |
Total applicable to operations | 4,435 | 2,910 | -647 |
Deferred tax charged (credited) to components of shareholders’ equity: | ' | ' | ' |
Unfunded status of postretirement benefits | 1,589 | -92 | -500 |
Net unrealized securities (losses) gains | -7,019 | 214 | 3,593 |
Total income taxes | ($995) | $3,032 | $2,446 |
Note_9_Income_Taxes_Details_An
Note 9 - Income Taxes (Details) - Analysis of Effective and Statutory Federal Income Tax Rates | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 9 - Income Taxes (Details) - Analysis of Effective and Statutory Federal Income Tax Rates [Line Items] | ' | ' | ' |
Federal statutory rate | 35.00% | 35.00% | 35.00% |
Changes from statutory rates resulting from: | ' | ' | ' |
Company-owned life insurance | -1.80% | -3.50% | -15.20% |
Uncertain tax position | -0.50% | -0.90% | 14.30% |
Other, net | -0.60% | -0.30% | 1.40% |
Effective tax rate on pretax income | 24.80% | 19.30% | -30.90% |
Tax credits | 0.00% | -1.80% | -13.00% |
Interest Income [Member] | ' | ' | ' |
Changes from statutory rates resulting from: | ' | ' | ' |
Tax-Exempt | -6.30% | -7.60% | -51.50% |
Interest To Carry Tax Exempt Obligations [Member] | ' | ' | ' |
Changes from statutory rates resulting from: | ' | ' | ' |
Nondeductible | 0.30% | 0.40% | 3.60% |
Legal Expense [Member] | ' | ' | ' |
Changes from statutory rates resulting from: | ' | ' | ' |
Nondeductible | 0.00% | 0.50% | 0.00% |
Other Income [Member] | ' | ' | ' |
Changes from statutory rates resulting from: | ' | ' | ' |
Tax-Exempt | -1.30% | -2.50% | -5.50% |
Note_9_Income_Taxes_Details_Si
Note 9 - Income Taxes (Details) - Significant Temporary Differences that Comprise Deferred Tax Assets Tax Effect (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Allowance for loan losses | $7,217 | $8,571 |
Deferred directors’ fees | 285 | 281 |
Postretirement benefit obligations | 4,459 | 5,633 |
Other real estate owned | 3,568 | 2,398 |
Partnership investments | 1,508 | 1,444 |
Self-funded insurance | 213 | 164 |
Paid time off | 701 | 705 |
Depreciation | 798 | 676 |
Intangibles | 3,179 | 3,526 |
Unrealized losses on available for sale investment securities, net | 1,951 | 0 |
Other | 232 | 44 |
Total deferred tax assets | 24,111 | 23,442 |
Liabilities | ' | ' |
Unrealized gains on available for sale investment securities, net | 0 | 5,066 |
Prepaid expenses | 596 | 505 |
Federal Home Loan Bank stock dividends | 1,097 | 1,087 |
Deferred loan fees | 772 | 811 |
Lease financing operations | 136 | 366 |
Total deferred tax liabilities | 2,601 | 7,835 |
Net deferred tax asset | $21,510 | $15,607 |
Note_9_Income_Taxes_Details_Un
Note 9 - Income Taxes (Details) - Unrecognized Tax Benefits (USD $) | 36 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2011 |
Tax [Member] | Tax [Member] | Tax [Member] | |||
Note 9 - Income Taxes (Details) - Unrecognized Tax Benefits [Line Items] | ' | ' | ' | ' | ' |
Balance, | ' | $449 | $154 | $266 | $402 |
Reductions to tax positions of prior years | 371 | ' | -88 | -112 | ' |
Balance, | ' | $449 | $66 | $154 | $402 |
Note_10_Retirement_Plans_Detai
Note 10 - Retirement Plans (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 10 - Retirement Plans (Details) [Line Items] | ' | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50.00% | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | ' | ' |
Defined Contribution Plan, Cost Recognized (in Dollars) | $528 | $485 | $470 |
Employee Service Requirement | '20 years | ' | ' |
Employee Age Requirement | '55 years | ' | ' |
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year | 8.00% | ' | ' |
Defined Benefit Plan Health Care Cost Trend Rate Assumed Year Two | 7.00% | ' | ' |
Defined Benefit Plan Health Care Cost Trend Rate Downgrade Rate Assumed Thereafter | 0.50% | ' | ' |
Plan 1 [Member] | ' | ' | ' |
Note 10 - Retirement Plans (Details) [Line Items] | ' | ' | ' |
Company Contributions Plan 1 | 100.00% | ' | ' |
Plan 2 [Member] | ' | ' | ' |
Note 10 - Retirement Plans (Details) [Line Items] | ' | ' | ' |
Contributions Plan 2 | 50.00% | ' | ' |
Medical [Member] | ' | ' | ' |
Note 10 - Retirement Plans (Details) [Line Items] | ' | ' | ' |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 5.00% | ' | ' |
Dental [Member] | ' | ' | ' |
Note 10 - Retirement Plans (Details) [Line Items] | ' | ' | ' |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 5.00% | ' | ' |
Note_10_Retirement_Plans_Detai1
Note 10 - Retirement Plans (Details) - Changes in Supplemental Retirement Plans' Benefit Obligation (Retirement Plan [Member], USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 |
Beginning [Member] | Beginning [Member] | Ending [Member] | Ending [Member] | |||
Change in Benefit Obligation | ' | ' | ' | ' | ' | ' |
Obligation at | ' | ' | $741 | $706 | $774 | $741 |
Service cost | 28 | 26 | ' | ' | ' | ' |
Interest cost | 29 | 29 | ' | ' | ' | ' |
Actuarial loss | 3 | 8 | ' | ' | ' | ' |
Benefit payments | -27 | -28 | ' | ' | ' | ' |
Obligation at | ' | ' | $741 | $706 | $774 | $741 |
Note_10_Retirement_Plans_Detai2
Note 10 - Retirement Plans (Details) - Net Periodic Benefit Cost (Retirement Plan [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Retirement Plan [Member] | ' | ' |
Note 10 - Retirement Plans (Details) - Net Periodic Benefit Cost [Line Items] | ' | ' |
Service cost | $28 | $26 |
Interest cost | 29 | 29 |
Recognized net actuarial loss | 12 | 8 |
Net periodic benefit cost | $69 | $63 |
Major assumptions: | ' | ' |
Discount rate used to determine net period benefit cost | 4.03% | 4.39% |
Discount rate used to determine benefit obligation at year end | 4.06% | 4.03% |
Note_10_Retirement_Plans_Detai3
Note 10 - Retirement Plans (Details) - Estimated Future Benefit Payments (Retirement Plan [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Retirement Plan [Member] | ' |
Note 10 - Retirement Plans (Details) - Estimated Future Benefit Payments [Line Items] | ' |
2014 | $36 |
2015 | 36 |
2016 | 36 |
2017 | 36 |
2018 | 36 |
2019-2023 | 287 |
Total | $467 |
Note_10_Retirement_Plans_Detai4
Note 10 - Retirement Plans (Details) - Amounts Recognized in Accumulated Other Comprehensive Income (Retirement Plan [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Retirement Plan [Member] | ' | ' |
Note 10 - Retirement Plans (Details) - Amounts Recognized in Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Unrecognized net actuarial loss | $148 | $157 |
Total | $148 | $157 |
Note_10_Retirement_Plans_Detai5
Note 10 - Retirement Plans (Details) - Estimated Cost Amortized from Accumulated Other Comprehensive Income into Net Periodic Cost (Retirement Plan [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Retirement Plan [Member] | ' |
Note 10 - Retirement Plans (Details) - Estimated Cost Amortized from Accumulated Other Comprehensive Income into Net Periodic Cost [Line Items] | ' |
Unrecognized net actuarial gain | ($4) |
Total | ($4) |
Note_11_Common_Stock_Options_D
Note 11 - Common Stock Options (Details) (USD $) | 12 Months Ended | 36 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2004 | Dec. 31, 2000 | Dec. 31, 1997 | Dec. 31, 2013 | |
Note 11 - Common Stock Options (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 450,000 | ' | ' | ' | ' | ' | 450,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '3 months | '3 months | '3 months | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '1 year | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | ' | 40,049 | 54,000 | 450,000 | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 54,172 | ' | ' | ' | ' | ' | 54,172 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '302 days | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value (in Dollars) | $0 | ' | ' | ' | ' | ' | $0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ' | ' | ' | ' | ' | ' | 0 |
Maximum [Member] | ' | ' | ' | ' | ' | ' | ' |
Note 11 - Common Stock Options (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '10 years | ' | ' | ' | ' | ' | ' |
Note_11_Common_Stock_Options_D1
Note 11 - Common Stock Options (Details) - Change in the Number of Options and Related Weighted Average Price (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Change in the Number of Options and Related Weighted Average Price [Abstract] | ' |
Options outstanding at beginning of year | 24,049 |
Options outstanding at beginning of year (in Dollars per share) | $34.80 |
Forfeited | -2,000 |
Forfeited (in Dollars per share) | $34.80 |
Options outstanding at year-end | 22,049 |
Options outstanding at year-end (in Dollars per share) | $34.80 |
Options exercisable at year-end | 22,049 |
Options exercisable at year-end (in Dollars per share) | $34.80 |
Note_12_Postretirement_Medical
Note 12 - Postretirement Medical Benefits (Details) - Plans Benefit Obligation (Postretirement Medical Benefits [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Postretirement Medical Benefits [Member] | ' | ' |
Change in Benefit Obligation | ' | ' |
Obligation at | $15,935 | $14,294 |
Service cost | 630 | 617 |
Interest cost | 551 | 608 |
Actuarial (gain) loss | -4,277 | 674 |
Participant contributions | 97 | 85 |
Benefit payments | -348 | -343 |
Obligation at | $12,588 | $15,935 |
Note_12_Postretirement_Medical1
Note 12 - Postretirement Medical Benefits (Details) - The Following Disclosures of the Net Periodic Benefit Cost Components (Postretirement Medical Benefits [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Postretirement Medical Benefits [Member] | ' | ' |
Note 12 - Postretirement Medical Benefits (Details) - The Following Disclosures of the Net Periodic Benefit Cost Components [Line Items] | ' | ' |
Service cost | $630 | $617 |
Interest cost | 551 | 608 |
Amortization of transition obligation | 0 | 102 |
Recognized prior service cost | 257 | 257 |
Amortization of net actuarial loss | 0 | 56 |
Net periodic benefit cost | $1,438 | $1,640 |
Major assumptions: | ' | ' |
Discount rate used to determine net periodic benefit cost | 4.03% | 4.39% |
Discount rate used to determine benefit obligation as of year end | 4.93% | 4.03% |
Retiree participation rate (Plan 1) | 100.00% | 100.00% |
Retiree participation rate (Plan 2) | 72.00% | 72.00% |
Note_12_Postretirement_Medical2
Note 12 - Postretirement Medical Benefits (Details) - Incremental Effects from a One Percent Change in Assumed Health Care Cost (Postretirement Medical Benefits [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Postretirement Medical Benefits [Member] | ' |
Note 12 - Postretirement Medical Benefits (Details) - Incremental Effects from a One Percent Change in Assumed Health Care Cost [Line Items] | ' |
Effect on total of service and interest cost components of net periodic postretirement health care benefit cost | $252 |
Effect on total of service and interest cost components of net periodic postretirement health care benefit cost | -194 |
Effect on accumulated postretirement benefit obligation | 2,444 |
Effect on accumulated postretirement benefit obligation | ($1,934) |
Note_12_Postretirement_Medical3
Note 12 - Postretirement Medical Benefits (Details) - Estimated Future Benefit Payments (Postretirement Medical Benefits [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Postretirement Medical Benefits [Member] | ' |
Note 12 - Postretirement Medical Benefits (Details) - Estimated Future Benefit Payments [Line Items] | ' |
2014 | $340 |
2015 | 355 |
2016 | 377 |
2017 | 422 |
2018 | 461 |
2019-2023 | 2,909 |
Total | $4,864 |
Note_12_Postretirement_Medical4
Note 12 - Postretirement Medical Benefits (Details) - Amounts Recognized in Accumulated Other Comprehensive Income (Postretirement Medical Benefits [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Postretirement Medical Benefits [Member] | ' | ' |
Note 12 - Postretirement Medical Benefits (Details) - Amounts Recognized in Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Unrecognized net actuarial (gain) loss | ($1,190) | $3,087 |
Unrecognized prior service cost | 383 | 639 |
Total | ($807) | $3,726 |
Note_12_Postretirement_Medical5
Note 12 - Postretirement Medical Benefits (Details) - Estimated Costs Amortized from Accumulated Other Comprehensive Income into Net Periodic Cost (Postretirement Medical Benefits [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Postretirement Medical Benefits [Member] | ' |
Note 12 - Postretirement Medical Benefits (Details) - Estimated Costs Amortized from Accumulated Other Comprehensive Income into Net Periodic Cost [Line Items] | ' |
Unrecognized prior service cost | $207 |
Unrecognized net actuarial gain | -63 |
Total | $144 |
Note_13_Leases_Details
Note 13 - Leases (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Leases [Abstract] | ' | ' | ' |
Operating Leases, Rent Expense | $399 | $424 | $451 |
Note_13_Leases_Details_Estimat
Note 13 - Leases (Details) - Estimated Future Minimum Rental Commitments (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Estimated Future Minimum Rental Commitments [Abstract] | ' |
2014 | $349 |
2015 | 313 |
2016 | 244 |
2017 | 124 |
2018 | 113 |
Thereafter | 537 |
Total | $1,680 |
Note_14_Financial_Instruments_2
Note 14 - Financial Instruments With Off-Balance Sheet Risk (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commitments to Extend Credit [Member] | ' | ' |
Note 14 - Financial Instruments With Off-Balance Sheet Risk (Details) [Line Items] | ' | ' |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $140,000 | $129,000 |
Standby Letters of Credit [Member] | ' | ' |
Note 14 - Financial Instruments With Off-Balance Sheet Risk (Details) [Line Items] | ' | ' |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $23,400 | $24,400 |
Note_14_Financial_Instruments_3
Note 14 - Financial Instruments With Off-Balance Sheet Risk (Details) - Contractual Amount of Financial Instruments with Off-Balance Sheet Risk (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commitments to Extend Credit [Member] | Fixed Rate [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Financial Instruments With Off-Balance Sheet Risk | $56,884 | $51,447 |
Commitments to Extend Credit [Member] | Variable Rate [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Financial Instruments With Off-Balance Sheet Risk | 82,934 | 77,176 |
Commitments to Extend Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Financial Instruments With Off-Balance Sheet Risk | 140,000 | 129,000 |
Fixed Rate [Member] | Standby Letters of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Financial Instruments With Off-Balance Sheet Risk | 2,578 | 2,647 |
Fixed Rate [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Financial Instruments With Off-Balance Sheet Risk | 59,462 | 54,094 |
Variable Rate [Member] | Standby Letters of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Financial Instruments With Off-Balance Sheet Risk | 20,816 | 21,740 |
Variable Rate [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Financial Instruments With Off-Balance Sheet Risk | 103,750 | 98,916 |
Standby Letters of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Financial Instruments With Off-Balance Sheet Risk | $23,400 | $24,400 |
Note_17_Regulatory_Matters_Det
Note 17 - Regulatory Matters (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2009 | Sep. 30, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | |||||
United Bank [Member] | United Bank [Member] | United Bank [Member] | Citizens Northern [Member] | Citizens Northern [Member] | Citizens Northern [Member] | Safest Assets [Member] | Riskier Assets [Member] | ||||||||||
Compliance [Member] | Compliance [Member] | ||||||||||||||||
Note 17 - Regulatory Matters (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Risk Weighting of Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 100.00% | ||||
Common Stock, Dividends, Per Share, Declared (in Dollars per share) | $0.10 | $0.25 | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Tier One Leverage Capital to Average Assets | ' | ' | ' | ' | ' | 9.00% | 9.67% | [1],[2] | 9.45% | [1],[2] | 9.00% | 9.67% | [1],[2] | 9.36% | [1],[2] | ' | ' |
Capital to Risk Weighted Assets | ' | ' | ' | ' | ' | 13.00% | 16.33% | [1],[3] | 16.69% | [1],[3] | ' | 14.82% | [1],[3] | 14.22% | [1],[3] | ' | ' |
[1] | See discussion below under the caption "Summary of Regulatory Agreements" for minimum capital ratios required as part of the bank's regulatory agreement. | ||||||||||||||||
[2] | Tier 1 Leverage ratio is computed by dividing a bank's Tier 1 Capital by its total quarterly average assets, as defined by regulation. | ||||||||||||||||
[3] | Tier 1 Risk-based and Total Risk-based Capital ratios are computed by dividing a bank's Tier 1 or Total Capital, as defined by regulation, by a risk-weighted sum of the bank's assets, with the risk weighting determined by general standards established by regulation. The safest assets (e.g., government obligations) are assigned a weighting of 0% with riskier assets receiving higher ratings (e.g., ordinary commercial loans are assigned a weighting of 100%). |
Note_17_Regulatory_Matters_Det1
Note 17 - Regulatory Matters (Details) - Regulatory Ratios of the Consolidated Company and its Subsidiary Banks (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Consolidated [Member] | ' | ' | ||
Tier 1 Risk-based Capital1 | ' | ' | ||
Actual - Amount (in Dollars) | $216,162 | [1] | $206,470 | [1] |
Actual - Ratio | 18.95% | [1] | 18.27% | [1] |
For Capital Adequacy Purposes - Amount (in Dollars) | 45,623 | [1] | 45,215 | [1] |
For Capital Adequacy Purposes - Ratio | 4.00% | [1] | 4.00% | [1] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | ' | [1] | ' | [1] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | ' | [1] | ' | [1] |
Total Risk-based Capital 1 | ' | ' | ||
Actual - Amount (in Dollars) | 230,497 | [1] | 220,741 | [1] |
Actual - Ratio | 20.21% | [1] | 19.53% | [1] |
For Capital Adequacy Purposes - Amount (in Dollars) | 91,245 | [1] | 90,431 | [1] |
For Capital Adequacy Purposes - Ratio | 8.00% | [1] | 8.00% | [1] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | ' | [1] | ' | [1] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | ' | [1] | ' | [1] |
Tier 1 Leverage Capital 3 | ' | ' | ||
Actual - Amount (in Dollars) | 216,162 | [2] | 206,470 | [2] |
Actual - Ratio | 11.90% | [2] | 11.24% | [2] |
For Capital Adequacy Purposes - Amount (in Dollars) | 72,677 | [2] | 73,479 | [2] |
For Capital Adequacy Purposes - Ratio | 4.00% | [2] | 4.00% | [2] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | ' | [2] | ' | [2] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | ' | [2] | ' | [2] |
Farmers Bank [Member] | ' | ' | ||
Tier 1 Risk-based Capital1 | ' | ' | ||
Actual - Amount (in Dollars) | 67,409 | [1] | 69,582 | [1],[3] |
Actual - Ratio | 17.56% | [1] | 17.94% | [1],[3] |
For Capital Adequacy Purposes - Amount (in Dollars) | 15,351 | [1] | 15,515 | [1],[3] |
For Capital Adequacy Purposes - Ratio | 4.00% | [1] | 4.00% | [1],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | 23,026 | [1] | 23,273 | [1],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | 6.00% | [1] | 6.00% | [1],[3] |
Total Risk-based Capital 1 | ' | ' | ||
Actual - Amount (in Dollars) | 72,231 | [1] | 74,475 | [1],[3] |
Actual - Ratio | 18.82% | [1] | 19.20% | [1],[3] |
For Capital Adequacy Purposes - Amount (in Dollars) | 30,702 | [1] | 31,030 | [1],[3] |
For Capital Adequacy Purposes - Ratio | 8.00% | [1] | 8.00% | [1],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | 38,377 | [1] | 38,788 | [1],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | 10.00% | [1] | 10.00% | [1],[3] |
Tier 1 Leverage Capital 3 | ' | ' | ||
Actual - Amount (in Dollars) | 67,409 | [2] | 69,582 | [2],[3] |
Actual - Ratio | 9.60% | [2] | 9.68% | [2],[3] |
For Capital Adequacy Purposes - Amount (in Dollars) | 28,077 | [2] | 28,768 | [2],[3] |
For Capital Adequacy Purposes - Ratio | 4.00% | [2] | 4.00% | [2],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | 35,096 | [2] | 35,960 | [2],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | 5.00% | [2] | 5.00% | [2],[3] |
United Bank [Member] | ' | ' | ||
Tier 1 Risk-based Capital1 | ' | ' | ||
Actual - Amount (in Dollars) | 51,336 | [1],[3] | 51,695 | [1],[3] |
Actual - Ratio | 15.06% | [1],[3] | 15.41% | [1],[3] |
For Capital Adequacy Purposes - Amount (in Dollars) | 13,634 | [1],[3] | 13,420 | [1],[3] |
For Capital Adequacy Purposes - Ratio | 4.00% | [1],[3] | 4.00% | [1],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | 20,450 | [1],[3] | 20,130 | [1],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | 6.00% | [1],[3] | 6.00% | [1],[3] |
Total Risk-based Capital 1 | ' | ' | ||
Actual - Amount (in Dollars) | 55,664 | [1],[3] | 55,980 | [1],[3] |
Actual - Ratio | 16.33% | [1],[3] | 16.69% | [1],[3] |
For Capital Adequacy Purposes - Amount (in Dollars) | 27,267 | [1],[3] | 26,839 | [1],[3] |
For Capital Adequacy Purposes - Ratio | 8.00% | [1],[3] | 8.00% | [1],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | 34,084 | [1],[3] | 33,549 | [1],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | 10.00% | [1],[3] | 10.00% | [1],[3] |
Tier 1 Leverage Capital 3 | ' | ' | ||
Actual - Amount (in Dollars) | 51,336 | [2],[3] | 51,695 | [2],[3] |
Actual - Ratio | 9.67% | [2],[3] | 9.45% | [2],[3] |
For Capital Adequacy Purposes - Amount (in Dollars) | 21,233 | [2],[3] | 21,878 | [2],[3] |
For Capital Adequacy Purposes - Ratio | 4.00% | [2],[3] | 4.00% | [2],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | 26,542 | [2],[3] | 27,347 | [2],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | 5.00% | [2],[3] | 5.00% | [2],[3] |
First Citizens Bank [Member] | ' | ' | ||
Tier 1 Risk-based Capital1 | ' | ' | ||
Actual - Amount (in Dollars) | 28,814 | [1] | 29,017 | [1] |
Actual - Ratio | 12.92% | [1] | 13.57% | [1] |
For Capital Adequacy Purposes - Amount (in Dollars) | 8,917 | [1] | 8,552 | [1] |
For Capital Adequacy Purposes - Ratio | 4.00% | [1] | 4.00% | [1] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | 13,376 | [1] | 12,828 | [1] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | 6.00% | [1] | 6.00% | [1] |
Total Risk-based Capital 1 | ' | ' | ||
Actual - Amount (in Dollars) | 30,485 | [1] | 30,908 | [1] |
Actual - Ratio | 13.67% | [1] | 14.46% | [1] |
For Capital Adequacy Purposes - Amount (in Dollars) | 17,835 | [1] | 17,104 | [1] |
For Capital Adequacy Purposes - Ratio | 8.00% | [1] | 8.00% | [1] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | 22,294 | [1] | 21,380 | [1] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | 10.00% | [1] | 10.00% | [1] |
Tier 1 Leverage Capital 3 | ' | ' | ||
Actual - Amount (in Dollars) | 28,814 | [2] | 29,017 | [2] |
Actual - Ratio | 9.03% | [2] | 9.42% | [2] |
For Capital Adequacy Purposes - Amount (in Dollars) | 12,768 | [2] | 12,327 | [2] |
For Capital Adequacy Purposes - Ratio | 4.00% | [2] | 4.00% | [2] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | 15,960 | [2] | 15,409 | [2] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | 5.00% | [2] | 5.00% | [2] |
Citizens Northern [Member] | ' | ' | ||
Tier 1 Risk-based Capital1 | ' | ' | ||
Actual - Amount (in Dollars) | 24,455 | [1],[3] | 23,553 | [1],[3] |
Actual - Ratio | 13.57% | [1],[3] | 12.97% | [1],[3] |
For Capital Adequacy Purposes - Amount (in Dollars) | 7,208 | [1],[3] | 7,264 | [1],[3] |
For Capital Adequacy Purposes - Ratio | 4.00% | [1],[3] | 4.00% | [1],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | 10,812 | [1],[3] | 10,896 | [1],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | 6.00% | [1],[3] | 6.00% | [1],[3] |
Total Risk-based Capital 1 | ' | ' | ||
Actual - Amount (in Dollars) | 26,708 | [1],[3] | 25,826 | [1],[3] |
Actual - Ratio | 14.82% | [1],[3] | 14.22% | [1],[3] |
For Capital Adequacy Purposes - Amount (in Dollars) | 14,415 | [1],[3] | 14,528 | [1],[3] |
For Capital Adequacy Purposes - Ratio | 8.00% | [1],[3] | 8.00% | [1],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | 18,019 | [1],[3] | 18,159 | [1],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | 10.00% | [1],[3] | 10.00% | [1],[3] |
Tier 1 Leverage Capital 3 | ' | ' | ||
Actual - Amount (in Dollars) | 24,455 | [2],[3] | 23,553 | [2],[3] |
Actual - Ratio | 9.67% | [2],[3] | 9.36% | [2],[3] |
For Capital Adequacy Purposes - Amount (in Dollars) | 10,113 | [2],[3] | 10,063 | [2],[3] |
For Capital Adequacy Purposes - Ratio | 4.00% | [2],[3] | 4.00% | [2],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Amount (in Dollars) | $12,641 | [2],[3] | $12,579 | [2],[3] |
To Be Well-Capitalized Under Prompt Corrective Action Provisions - Ratio | 5.00% | [2],[3] | 5.00% | [2],[3] |
[1] | Tier 1 Risk-based and Total Risk-based Capital ratios are computed by dividing a bank's Tier 1 or Total Capital, as defined by regulation, by a risk-weighted sum of the bank's assets, with the risk weighting determined by general standards established by regulation. The safest assets (e.g., government obligations) are assigned a weighting of 0% with riskier assets receiving higher ratings (e.g., ordinary commercial loans are assigned a weighting of 100%). | |||
[2] | Tier 1 Leverage ratio is computed by dividing a bank's Tier 1 Capital by its total quarterly average assets, as defined by regulation. | |||
[3] | See discussion below under the caption "Summary of Regulatory Agreements" for minimum capital ratios required as part of the bank's regulatory agreement. |
Note_18_Fair_Value_Measurement2
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | $612,820 | $573,108 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 93,750 | 76,095 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 93,750 | 76,095 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 131,970 | 118,755 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 131,970 | 118,755 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 0 | 0 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 378,077 | 370,439 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 0 | 0 |
Residential Mortgage Backed Securities [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 378,077 | 370,439 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 0 | ' |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 689 | ' |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 0 | ' |
Commercial Mortgage Backed Securities [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 689 | ' |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 0 | 0 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 6,257 | 5,826 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 0 | 0 |
Corporate Debt Securities [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 6,257 | 5,826 |
Mutual Funds And Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 2,077 | 1,993 |
Mutual Funds And Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 0 | 0 |
Mutual Funds And Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 0 | 0 |
Mutual Funds And Equity Securities [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 2,077 | 1,993 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 2,077 | 1,993 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | 610,743 | 571,115 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Available For Sale Investment Securities Measured At Fair Value On A Recurring Basis [Line Items] | ' | ' |
Available For Sale Investment Securities | $0 | $0 |
Note_18_Fair_Value_Measurement3
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Real Estate Construction And Land Development [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | $0 | $0 |
Real Estate Construction And Land Development [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Real Estate Construction And Land Development [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 334 | 17,921 |
Real Estate Construction And Land Development [Member] | Impaired Loans [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 334 | 17,921 |
Real Estate Mortgage Residential [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Real Estate Mortgage Residential [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Real Estate Mortgage Residential [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 2,085 | 2,273 |
Real Estate Mortgage Residential [Member] | Impaired Loans [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 2,085 | 2,273 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 3,152 | 3,523 |
Real Estate Mortgage Farmland And Other Commercial Enterprises [Member] | Impaired Loans [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 3,152 | 3,523 |
Commercial And Industrial [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Commercial And Industrial [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Commercial And Industrial [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 88 | 9 |
Commercial And Industrial [Member] | Impaired Loans [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 88 | 9 |
Consumer Secured [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | ' | 0 |
Consumer Secured [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | ' | 0 |
Consumer Secured [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | ' | 4 |
Consumer Secured [Member] | Impaired Loans [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | ' | 4 |
Consumer Unsecured [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | ' | 0 |
Consumer Unsecured [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | ' | 0 |
Consumer Unsecured [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | ' | 113 |
Consumer Unsecured [Member] | Impaired Loans [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | ' | 113 |
Construction and Land Development OREO [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Construction and Land Development OREO [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Construction and Land Development OREO [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 14,465 | 15,873 |
Construction and Land Development OREO [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 14,465 | 15,873 |
Residential Real Estate OREO [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Residential Real Estate OREO [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Residential Real Estate OREO [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 1,116 | 1,483 |
Residential Real Estate OREO [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 1,116 | 1,483 |
Farmland and Other Commercial Enterprises OREO [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Farmland and Other Commercial Enterprises OREO [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Farmland and Other Commercial Enterprises OREO [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 9,152 | 3,826 |
Farmland and Other Commercial Enterprises OREO [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 9,152 | 3,826 |
OREO [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
OREO [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
OREO [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 24,733 | 21,182 |
OREO [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 24,733 | 21,182 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | 5,659 | 23,843 |
Impaired Loans [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Carrying Amount of Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value, nonrecurring | $5,659 | $23,843 |
Note_18_Fair_Value_Measurement4
Note 18 - Fair Value Measurements (Details) - Impairment Charges on Assets Measured at Fair Value on a Nonrecurring Basis (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Impairment charges: | ' | ' |
Impairment charges | $5,476 | $7,875 |
OREO [Member] | ' | ' |
Impairment charges: | ' | ' |
Impairment charges | 4,689 | 3,120 |
Impaired Loans [Member] | ' | ' |
Impairment charges: | ' | ' |
Impairment charges | $787 | $4,755 |
Note_18_Fair_Value_Measurement5
Note 18 - Fair Value Measurements (Details) - Quantitative Information About Unobservable Inputs for Assets Measured on A Nonrecurring Basis Using Level 3 Measurements (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
OREO [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Quantitative Information About Unobservable Inputs for Assets Measured on A Nonrecurring Basis Using Level 3 Measurements [Line Items] | ' | ' |
Fair Value (in Dollars) | $24,733 | $21,182 |
Valuation Technique | 'Discounted appraisals | ' |
Unobservable Inputs | 'Marketability discount | ' |
OREO [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Quantitative Information About Unobservable Inputs for Assets Measured on A Nonrecurring Basis Using Level 3 Measurements [Line Items] | ' | ' |
Fair Value (in Dollars) | 24,733 | 21,182 |
OREO [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Quantitative Information About Unobservable Inputs for Assets Measured on A Nonrecurring Basis Using Level 3 Measurements [Line Items] | ' | ' |
Range | 0.80% | ' |
OREO [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Quantitative Information About Unobservable Inputs for Assets Measured on A Nonrecurring Basis Using Level 3 Measurements [Line Items] | ' | ' |
Range | 67.50% | ' |
OREO [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Quantitative Information About Unobservable Inputs for Assets Measured on A Nonrecurring Basis Using Level 3 Measurements [Line Items] | ' | ' |
Range | 11.30% | ' |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Quantitative Information About Unobservable Inputs for Assets Measured on A Nonrecurring Basis Using Level 3 Measurements [Line Items] | ' | ' |
Fair Value (in Dollars) | 5,659 | 23,843 |
Valuation Technique | 'Discounted appraisals | ' |
Unobservable Inputs | 'Marketability discount | ' |
Impaired Loans [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Quantitative Information About Unobservable Inputs for Assets Measured on A Nonrecurring Basis Using Level 3 Measurements [Line Items] | ' | ' |
Fair Value (in Dollars) | $5,659 | $23,843 |
Minimum [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Quantitative Information About Unobservable Inputs for Assets Measured on A Nonrecurring Basis Using Level 3 Measurements [Line Items] | ' | ' |
Range | 0.00% | ' |
Maximum [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Quantitative Information About Unobservable Inputs for Assets Measured on A Nonrecurring Basis Using Level 3 Measurements [Line Items] | ' | ' |
Range | 6.30% | ' |
Weighted Average [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 18 - Fair Value Measurements (Details) - Quantitative Information About Unobservable Inputs for Assets Measured on A Nonrecurring Basis Using Level 3 Measurements [Line Items] | ' | ' |
Range | 1.60% | ' |
Note_18_Fair_Value_Measurement6
Note 18 - Fair Value Measurements (Details) - The Carrying Amounts and Estimated Fair Values of the Company’s Financial Instruments (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | $68,253,000 | $95,855,000 | $94,309,000 | $182,056,000 |
Held to maturity investment securities | 765,000 | 820,000 | ' | ' |
Held to maturity investment securities | 827,000 | 956,000 | ' | ' |
Loans, net | 979,306,000 | 980,550,000 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank Stock | 9,500,000 | 9,500,000 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank Stock | 9,500,000 | 9,500,000 | ' | ' |
Liabilities | ' | ' | ' | ' |
Deposits | 1,410,215,000 | 1,410,810,000 | ' | ' |
Federal funds purchased and other short-term borrowings | 29,123,000 | 24,083,000 | ' | ' |
Securities sold under agreements to repurchase and other long-term borrowings | 127,880,000 | 129,297,000 | ' | ' |
Subordinated notes payable to unconsolidated trusts | 48,970,000 | 48,970,000 | ' | ' |
Estimate of Fair Value Measurement [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 68,253,000 | 95,855,000 | ' | ' |
Held to maturity investment securities | 827,000 | 956,000 | ' | ' |
Loans, net | 977,846,000 | 979,301,000 | ' | ' |
Accrued interest receivable | 5,901,000 | 6,074,000 | ' | ' |
Liabilities | ' | ' | ' | ' |
Deposits | 1,412,572,000 | 1,414,395,000 | ' | ' |
Federal funds purchased and other short-term borrowings | 29,123,000 | 24,083,000 | ' | ' |
Securities sold under agreements to repurchase and other long-term borrowings | 139,375,000 | 148,680,000 | ' | ' |
Subordinated notes payable to unconsolidated trusts | 26,070,000 | 21,015,000 | ' | ' |
Accrued interest payable | 1,137,000 | 1,370,000 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 68,253,000 | 95,855,000 | ' | ' |
Held to maturity investment securities | 0 | 0 | ' | ' |
Loans, net | 0 | 0 | ' | ' |
Accrued interest receivable | 0 | 0 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank Stock | 0 | 0 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank Stock | 0 | 0 | ' | ' |
Liabilities | ' | ' | ' | ' |
Deposits | 938,700,000 | 870,145,000 | ' | ' |
Federal funds purchased and other short-term borrowings | 0 | 0 | ' | ' |
Securities sold under agreements to repurchase and other long-term borrowings | 0 | 0 | ' | ' |
Subordinated notes payable to unconsolidated trusts | 0 | 0 | ' | ' |
Accrued interest payable | 0 | 0 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Held to maturity investment securities | 827,000 | 956,000 | ' | ' |
Loans, net | 0 | 0 | ' | ' |
Accrued interest receivable | 5,901,000 | 6,074,000 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank Stock | 0 | 0 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank Stock | 0 | 0 | ' | ' |
Liabilities | ' | ' | ' | ' |
Deposits | 0 | 0 | ' | ' |
Federal funds purchased and other short-term borrowings | 29,123,000 | 24,083,000 | ' | ' |
Securities sold under agreements to repurchase and other long-term borrowings | 139,375,000 | 148,680,000 | ' | ' |
Subordinated notes payable to unconsolidated trusts | 0 | 0 | ' | ' |
Accrued interest payable | 1,137,000 | 1,370,000 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Held to maturity investment securities | 0 | 0 | ' | ' |
Loans, net | 977,846,000 | 979,301,000 | ' | ' |
Accrued interest receivable | 0 | 0 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank Stock | 0 | 0 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank Stock | 0 | 0 | ' | ' |
Liabilities | ' | ' | ' | ' |
Deposits | 473,872,000 | 544,250,000 | ' | ' |
Federal funds purchased and other short-term borrowings | 0 | 0 | ' | ' |
Securities sold under agreements to repurchase and other long-term borrowings | 0 | 0 | ' | ' |
Subordinated notes payable to unconsolidated trusts | 26,070,000 | 21,015,000 | ' | ' |
Accrued interest payable | 0 | 0 | ' | ' |
Reported Value Measurement [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 68,253,000 | 95,855,000 | ' | ' |
Held to maturity investment securities | 765,000 | 820,000 | ' | ' |
Loans, net | 979,306,000 | 980,550,000 | ' | ' |
Accrued interest receivable | 5,901,000 | 6,074,000 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank Stock | 9,516,000 | 9,516,000 | ' | ' |
Federal Home Loan Bank and Federal Reserve Bank Stock | 9,516,000 | 9,516,000 | ' | ' |
Liabilities | ' | ' | ' | ' |
Deposits | 1,410,215,000 | 1,410,810,000 | ' | ' |
Federal funds purchased and other short-term borrowings | 29,123,000 | 24,083,000 | ' | ' |
Securities sold under agreements to repurchase and other long-term borrowings | 127,880,000 | 129,297,000 | ' | ' |
Subordinated notes payable to unconsolidated trusts | 48,970,000 | 48,970,000 | ' | ' |
Accrued interest payable | $1,137,000 | $1,370,000 | ' | ' |
Note_19_Parent_Company_Financi2
Note 19 - Parent Company Financial Statements (Details) - Condensed Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jan. 09, 2009 |
In Thousands, unless otherwise specified | |||||
Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents | $68,253 | $95,855 | $94,309 | $182,056 | ' |
Other assets | 44,559 | 38,787 | ' | ' | ' |
Total assets | 1,809,555 | 1,807,232 | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' |
Dividends payable | 188 | 188 | ' | ' | ' |
Subordinated notes payable to unconsolidated trusts | 48,970 | 48,970 | ' | ' | ' |
Other liabilities | 23,124 | 25,863 | ' | ' | ' |
Total liabilities | 1,639,500 | 1,639,211 | ' | ' | ' |
Shareholders’ Equity | ' | ' | ' | ' | ' |
Preferred stock | ' | ' | ' | ' | 28,000 |
Common stock | 935 | 934 | ' | ' | ' |
Capital surplus | 51,102 | 50,934 | ' | ' | ' |
Retained earnings | 91,242 | 79,747 | ' | ' | ' |
Accumulated other comprehensive (loss) income | -3,212 | 6,869 | ' | ' | ' |
Total shareholders’ equity | 170,055 | 168,021 | 157,057 | 149,896 | ' |
Total liabilities and shareholders’ equity | 1,809,555 | 1,807,232 | ' | ' | ' |
Parent Company [Member] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents | 36,471 | 24,776 | 18,362 | 16,249 | ' |
Investment in subsidiaries | 185,668 | 196,406 | ' | ' | ' |
Other assets | 851 | 862 | ' | ' | ' |
Total assets | 222,990 | 222,044 | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' |
Dividends payable | 188 | 188 | ' | ' | ' |
Subordinated notes payable to unconsolidated trusts | 48,970 | 48,970 | ' | ' | ' |
Other liabilities | 3,777 | 4,865 | ' | ' | ' |
Total liabilities | 52,935 | 54,023 | ' | ' | ' |
Shareholders’ Equity | ' | ' | ' | ' | ' |
Preferred stock | 29,988 | 29,537 | ' | ' | ' |
Common stock | 935 | 934 | ' | ' | ' |
Capital surplus | 51,102 | 50,934 | ' | ' | ' |
Retained earnings | 91,242 | 79,747 | ' | ' | ' |
Accumulated other comprehensive (loss) income | -3,212 | 6,869 | ' | ' | ' |
Total shareholders’ equity | 170,055 | 168,021 | ' | ' | ' |
Total liabilities and shareholders’ equity | $222,990 | $222,044 | ' | ' | ' |
Note_19_Parent_Company_Financi3
Note 19 - Parent Company Financial Statements (Details) - Condensed Statements of Income and Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income | ' | ' | ' |
Other noninterest income | ($28) | $35 | $27 |
Expense | ' | ' | ' |
Interest expense - subordinated notes payable to unconsolidated trusts | 864 | 1,879 | 2,026 |
Noninterest expense | 61,573 | 59,787 | 62,492 |
Income before income tax benefit and equity in undistributed income of subsidiaries | 17,881 | 15,059 | 2,091 |
Income tax benefit | 4,435 | 2,910 | -647 |
Net income | 13,446 | 12,149 | 2,738 |
Other comprehensive (loss) income | -10,081 | 226 | 5,745 |
Comprehensive income | 3,365 | 12,375 | 8,483 |
Parent Company [Member] | ' | ' | ' |
Income | ' | ' | ' |
Dividends from subsidiaries | 14,566 | 12,012 | 4,511 |
Interest | 29 | 19 | 16 |
Other noninterest income | 3,740 | 3,476 | 3,369 |
Total income | 18,335 | 15,507 | 7,896 |
Expense | ' | ' | ' |
Interest expense - subordinated notes payable to unconsolidated trusts | 864 | 1,879 | 2,026 |
Interest expense on other borrowed funds | 0 | 0 | 2 |
Noninterest expense | 3,980 | 3,875 | 3,484 |
Total expense | 4,844 | 5,754 | 5,512 |
Income before income tax benefit and equity in undistributed income of subsidiaries | 13,491 | 9,753 | 2,384 |
Income tax benefit | -428 | -759 | -854 |
Income before equity in undistributed income of subsidiaries | 13,919 | 10,512 | 3,238 |
Equity in undistributed (loss) income of subsidiaries | -473 | 1,637 | -500 |
Net income | 13,446 | 12,149 | 2,738 |
Other comprehensive (loss) income | -10,081 | 226 | 5,745 |
Comprehensive income | $3,365 | $12,375 | $8,483 |
Note_19_Parent_Company_Financi4
Note 19 - Parent Company Financial Statements (Details) - Condensed Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash Flows From Operating Activities | ' | ' | ' |
Net income | $13,446 | $12,149 | $2,738 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Noncash employee stock purchase plan expense | 36 | 36 | 42 |
Deferred income tax (benefit) expense | -473 | -1,043 | -2,227 |
Net cash provided by operating activities | 24,023 | 28,410 | 28,062 |
Cash Flows From Investing Activities | ' | ' | ' |
Net cash used in investing activities | -53,286 | 63,174 | -53,006 |
Cash Flows From Financing Activities | ' | ' | ' |
Dividends paid, preferred | -1,500 | -1,500 | -1,500 |
Repurchase of common stock warrant | 0 | -75 | 0 |
Shares issued under employee stock purchase plan | 133 | 128 | 136 |
Net cash used in financing activities | 1,661 | -90,038 | -62,803 |
Net increase in cash and cash equivalents | -27,602 | 1,546 | -87,747 |
Cash and cash equivalents at beginning of year | 95,855 | 94,309 | 182,056 |
Cash and cash equivalents at end of year | 68,253 | 95,855 | 94,309 |
Bank Subsidiaries [Member] | Parent Company [Member] | ' | ' | ' |
Cash Flows From Investing Activities | ' | ' | ' |
Investment in bank subsidiaries | 0 | -2,500 | -4,000 |
Parent Company [Member] | ' | ' | ' |
Cash Flows From Operating Activities | ' | ' | ' |
Net income | 13,446 | 12,149 | 2,738 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Equity in undistributed loss (income) of subsidiaries | 473 | -1,637 | 500 |
Noncash employee stock purchase plan expense | 4 | 3 | 3 |
Change in other assets and liabilities, net | -799 | -590 | 1,253 |
Deferred income tax (benefit) expense | -62 | -64 | 735 |
Net cash provided by operating activities | 13,062 | 9,861 | 5,229 |
Cash Flows From Investing Activities | ' | ' | ' |
Return of equity from nonbank subsidiary | 0 | 500 | 0 |
Proceeds from liquidation of company-owned life insurance | 0 | 0 | 2,248 |
Net cash used in investing activities | 0 | -2,000 | -1,752 |
Cash Flows From Financing Activities | ' | ' | ' |
Dividends paid, preferred | -1,500 | -1,500 | -1,500 |
Repurchase of common stock warrant | 0 | -75 | 0 |
Shares issued under employee stock purchase plan | 133 | 128 | 136 |
Net cash used in financing activities | -1,367 | -1,447 | -1,364 |
Net increase in cash and cash equivalents | 11,695 | 6,414 | 2,113 |
Cash and cash equivalents at beginning of year | 24,776 | 18,362 | 16,249 |
Cash and cash equivalents at end of year | $36,471 | $24,776 | $18,362 |
Note_20_Quarterly_Financial_Da2
Note 20 - Quarterly Financial Data (Unaudited) (Details) - Quarterly Financial Data (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 20 - Quarterly Financial Data (Unaudited) (Details) - Quarterly Financial Data [Line Items] | ' | ' | ' |
Interest income | $66,733 | $71,222 | $78,349 |
Interest expense | 11,995 | 18,258 | 24,670 |
Net interest income | 54,738 | 52,964 | 53,679 |
Provision for loan losses | -2,600 | 2,772 | 13,487 |
Net interest income after provision for loan losses | 57,338 | 50,192 | 40,192 |
Noninterest income | 22,116 | 24,654 | 24,391 |
Noninterest expense | 61,573 | 59,787 | 62,492 |
Income Before Income Taxes | 17,881 | 15,059 | 2,091 |
Income tax expense | 4,435 | 2,910 | -647 |
Net income | 13,446 | 12,149 | 2,738 |
Less dividends and accretion on preferred shares | 1,951 | 1,922 | 1,896 |
Net income | 11,495 | 10,227 | 842 |
Net income (in Dollars per share) | $1.54 | $1.37 | $0.11 |
Weighted average shares outstanding, basic and diluted (in Shares) | 7,474 | 7,457 | 7,424 |
First Quarter [Member] | ' | ' | ' |
Note 20 - Quarterly Financial Data (Unaudited) (Details) - Quarterly Financial Data [Line Items] | ' | ' | ' |
Interest income | 16,742 | 18,410 | ' |
Interest expense | 3,166 | 5,203 | ' |
Net interest income | 13,576 | 13,207 | ' |
Provision for loan losses | -632 | 977 | ' |
Net interest income after provision for loan losses | 14,208 | 12,230 | ' |
Noninterest income | 5,411 | 6,028 | ' |
Noninterest expense | 14,509 | 14,593 | ' |
Income Before Income Taxes | 5,110 | 3,665 | ' |
Income tax expense | 1,318 | 356 | ' |
Net income | 3,792 | 3,309 | ' |
Less dividends and accretion on preferred shares | 485 | 478 | ' |
Net income | 3,307 | 2,831 | ' |
Net income (in Dollars per share) | $0.44 | $0.38 | ' |
Weighted average shares outstanding, basic and diluted (in Shares) | 7,470 | 7,447 | ' |
Second Quarter [Member] | ' | ' | ' |
Note 20 - Quarterly Financial Data (Unaudited) (Details) - Quarterly Financial Data [Line Items] | ' | ' | ' |
Interest income | 16,631 | 18,087 | ' |
Interest expense | 3,038 | 4,720 | ' |
Net interest income | 13,593 | 13,367 | ' |
Provision for loan losses | -362 | 1,341 | ' |
Net interest income after provision for loan losses | 13,955 | 12,026 | ' |
Noninterest income | 5,441 | 6,412 | ' |
Noninterest expense | 14,722 | 14,401 | ' |
Income Before Income Taxes | 4,674 | 4,037 | ' |
Income tax expense | 1,127 | 890 | ' |
Net income | 3,547 | 3,147 | ' |
Less dividends and accretion on preferred shares | 487 | 480 | ' |
Net income | 3,060 | 2,667 | ' |
Net income (in Dollars per share) | $0.41 | $0.36 | ' |
Weighted average shares outstanding, basic and diluted (in Shares) | 7,473 | 7,454 | ' |
Third Quarter [Member] | ' | ' | ' |
Note 20 - Quarterly Financial Data (Unaudited) (Details) - Quarterly Financial Data [Line Items] | ' | ' | ' |
Interest income | 16,563 | 17,578 | ' |
Interest expense | 2,953 | 4,511 | ' |
Net interest income | 13,610 | 13,067 | ' |
Provision for loan losses | -586 | -256 | ' |
Net interest income after provision for loan losses | 14,196 | 13,323 | ' |
Noninterest income | 5,678 | 6,166 | ' |
Noninterest expense | 15,984 | 15,347 | ' |
Income Before Income Taxes | 3,890 | 4,142 | ' |
Income tax expense | 855 | 1,051 | ' |
Net income | 3,035 | 3,091 | ' |
Less dividends and accretion on preferred shares | 489 | 481 | ' |
Net income | 2,546 | 2,610 | ' |
Net income (in Dollars per share) | $0.34 | $0.35 | ' |
Weighted average shares outstanding, basic and diluted (in Shares) | 7,475 | 7,461 | ' |
Fourth Quarter [Member] | ' | ' | ' |
Note 20 - Quarterly Financial Data (Unaudited) (Details) - Quarterly Financial Data [Line Items] | ' | ' | ' |
Interest income | 16,797 | 17,147 | ' |
Interest expense | 2,838 | 3,824 | ' |
Net interest income | 13,959 | 13,323 | ' |
Provision for loan losses | -1,020 | 710 | ' |
Net interest income after provision for loan losses | 14,979 | 12,613 | ' |
Noninterest income | 5,586 | 6,048 | ' |
Noninterest expense | 16,358 | 15,446 | ' |
Income Before Income Taxes | 4,207 | 3,215 | ' |
Income tax expense | 1,135 | 613 | ' |
Net income | 3,072 | 2,602 | ' |
Less dividends and accretion on preferred shares | 490 | 483 | ' |
Net income | $2,582 | $2,119 | ' |
Net income (in Dollars per share) | $0.35 | $0.28 | ' |
Weighted average shares outstanding, basic and diluted (in Shares) | 7,477 | 7,466 | ' |
Note_21_Intangible_Assets_Deta
Note 21 - Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 21 - Intangible Assets (Details) [Line Items] | ' | ' | ' |
Amortization of Intangible Assets | $540 | $1,014 | $1,143 |
Fully Amortized [Member] | ' | ' | ' |
Note 21 - Intangible Assets (Details) [Line Items] | ' | ' | ' |
Finite-Lived Core Deposits, Gross | 1,900 | ' | ' |
Finite-Lived Customer Relationships, Gross | $1,300 | ' | ' |
Note_21_Intangible_Assets_Deta1
Note 21 - Intangible Assets (Details) - Acquired Core Deposit and Customer Relationship Iintangible Assets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Core deposit intangibles | $6,084 | $8,693 |
Core deposit intangibles | 854 | 1,394 |
Other customer relationship intangibles | 6,084 | 8,693 |
Other customer relationship intangibles | 854 | 1,394 |
Total | 6,938 | 10,087 |
Total | 6,084 | 8,693 |
Total | 854 | 1,394 |
Core Deposits [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Core deposit intangibles | 4,524 | 6,398 |
Core deposit intangibles | 3,910 | 5,444 |
Core deposit intangibles | 614 | 954 |
Other customer relationship intangibles | 3,910 | 5,444 |
Other customer relationship intangibles | 614 | 954 |
Total | 3,910 | 5,444 |
Total | 614 | 954 |
Customer Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Core deposit intangibles | 2,174 | 3,249 |
Core deposit intangibles | 240 | 440 |
Other customer relationship intangibles | 2,414 | 3,689 |
Other customer relationship intangibles | 2,174 | 3,249 |
Other customer relationship intangibles | 240 | 440 |
Total | 2,174 | 3,249 |
Total | $240 | $440 |
Note_21_Intangible_Assets_Deta2
Note 21 - Intangible Assets (Details) - Estimated Amortization Expense (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Estimated Amortization Expense [Abstract] | ' |
2014 | $405 |
2015 | $449 |
Note_22_Preferred_Stock_and_Wa1
Note 22 - Preferred Stock and Warrant (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||||
Jul. 31, 2012 | Jan. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 09, 2009 | |
Note 22 - Preferred Stock and Warrant (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Preferred Stock and Preference Stock | ' | $30,000,000 | ' | ' | ' | ' |
Payments for Repurchase of Warrants | 75,000 | ' | 0 | 75,000 | 0 | ' |
Warrants and Rights Outstanding | ' | ' | ' | ' | ' | 2,000,000 |
Preferred Stock, Value, Issued | ' | ' | ' | ' | ' | 28,000,000 |
Preferred Stock, Liquidation Preference, Value | ' | ' | ' | ' | ' | 30,000,000 |
Expected Life, Preferred Stock | ' | ' | '5 years | ' | ' | ' |
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | ' | ' | $1,000 | ' | ' | ' |
Preferred Stock, Dividend Payment Terms | ' | ' | 'five | ' | ' | ' |
Effective Yield [Member] | ' | ' | ' | ' | ' | ' |
Note 22 - Preferred Stock and Warrant (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage | ' | ' | 6.56% | ' | ' | ' |
Dividend Rate First Five Years [Member] | ' | ' | ' | ' | ' | ' |
Note 22 - Preferred Stock and Warrant (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage | ' | ' | 5.00% | ' | ' | ' |
Dividend Rate After First Five Years [Member] | ' | ' | ' | ' | ' | ' |
Note 22 - Preferred Stock and Warrant (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage | ' | ' | 9.00% | ' | ' | ' |
Warrant [Member] | ' | ' | ' | ' | ' | ' |
Note 22 - Preferred Stock and Warrant (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Outstanding (in Shares) | ' | ' | ' | ' | ' | 223,992 |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | ' | ' | ' | ' | ' | 20.09 |
Series A Preferred Stock [Member] | ' | ' | ' | ' | ' | ' |
Note 22 - Preferred Stock and Warrant (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues (in Shares) | ' | 30,000 | ' | ' | ' | ' |
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | ' | $0 | $0 | $0 | ' | ' |
Fair Value Inputs, Discount Rate | ' | 13.00% | ' | ' | ' | ' |
Preferred Stock, Value, Issued | ' | ' | 29,988,000 | 29,537,000 | ' | ' |
Preferred Stock, Liquidation Preference, Value | ' | ' | $30,000,000 | $30,000,000 | ' | ' |