Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 30, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | HILLS BANCORPORATION | |
Entity Central Index Key | 732417 | |
Current Fiscal Year End Date | -19 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 4,685,170 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Cash and cash equivalents | $83,345 | $29,174 |
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 259,878 | 258,992 |
Stock of Federal Home Loan Bank | 8,446 | 8,248 |
Loans held for sale | 8,311 | 4,476 |
Loans, net of allowance for loan losses (March 31, 2015 $24,360; December 31, 2014 $24,020) | 1,970,499 | 1,961,369 |
Property and equipment, net | 32,466 | 29,071 |
Tax credit real estate | 17,045 | 17,259 |
Accrued interest receivable | 9,102 | 8,276 |
Deferred income taxes, net | 10,219 | 9,938 |
Other real estate | 1,228 | 1,213 |
Goodwill | 2,500 | 2,500 |
Other assets | 4,218 | 3,802 |
Total Assets | 2,407,257 | 2,334,318 |
Liabilities | ||
Noninterest-bearing deposits | 280,432 | 288,718 |
Interest-bearing deposits | 1,626,903 | 1,546,351 |
Total deposits | 1,907,335 | 1,835,069 |
Other borrowings | 40,928 | 47,499 |
Federal Home Loan Bank borrowings | 140,000 | 140,000 |
Accrued interest payable | 859 | 902 |
Other liabilities | 26,545 | 20,749 |
Total Liabilities | 2,115,667 | 2,044,219 |
Redeemable Common Stock Held by Employee Stock Ownership Plan (ESOP) | 35,007 | 34,571 |
STOCKHOLDERS' EQUITY | ||
Common stock, no par value; authorized 10,000,000 shares; issued March 31, 2015 5,089,298 shares; December 31, 2014 5,088,927 shares | 0 | 0 |
Paid in capital | 43,060 | 42,925 |
Retained earnings | 273,449 | 271,924 |
Accumulated other comprehensive loss | -422 | -448 |
Unearned ESOP shares | -504 | -504 |
Treasury stock at cost (March 31, 2015 401,075 shares; December 31, 2014 398,711 shares) | -23,993 | -23,798 |
Total Stockholders' Equity | 291,590 | 290,099 |
Less maximum cash obligation related to ESOP shares | 35,007 | 34,571 |
Total Stockholders' Equity Less Maximum Cash Obligations Related to ESOP Shares | 256,583 | 255,528 |
Total Liabilities & Stockholders' Equity | $2,407,257 | $2,334,318 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
ASSETS | ||
Investment securities available for sale, amortized cost | $256,673 | $256,920 |
Loans, allowance for loan losses | $24,360 | $24,020 |
STOCKHOLDERS' EQUITY | ||
Common stock, no par value (in dollars per share) | $0 | $0 |
Common stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, issued (in shares) | 5,089,298 | 5,088,927 |
Treasury stock at cost (in shares) | 401,075 | 398,711 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Interest income: | ||
Loans, including fees | $21,080 | $19,749 |
Investment securities: | ||
Taxable | 286 | 270 |
Nontaxable | 843 | 836 |
Federal funds sold | 5 | 10 |
Total interest income | 22,214 | 20,865 |
Interest expense: | ||
Deposits | 2,164 | 2,469 |
Short-term borrowings | 17 | 3 |
FHLB borrowings | 1,454 | 1,378 |
Total interest expense | 3,635 | 3,850 |
Net interest income | 18,579 | 17,015 |
Provision for loan losses | -62 | 45 |
Net interest income after provision for loan losses | 18,641 | 16,970 |
Noninterest income: | ||
Net gain on sale of loans | 308 | 111 |
Trust fees | 1,569 | 1,460 |
Service charges and fees | 1,946 | 1,837 |
Rental revenue on tax credit real estate | 511 | 357 |
Net gain on sale of other real estate owned and other repossessed assets | 7 | 72 |
Other noninterest income | 649 | 584 |
Noninterest income | 4,990 | 4,421 |
Noninterest expenses: | ||
Salaries and employee benefits | 6,651 | 6,257 |
Occupancy | 1,015 | 1,009 |
Furniture and equipment | 1,298 | 1,231 |
Office supplies and postage | 441 | 382 |
Advertising and business development | 774 | 628 |
Outside services | 1,814 | 1,535 |
Rental expenses on tax credit real estate | 602 | 530 |
FDIC insurance assessment | 289 | 270 |
Other noninterest expense | 315 | 416 |
Noninterest expenses | 13,199 | 12,258 |
Income before income taxes | 10,432 | 9,133 |
Income taxes | 3,052 | 2,389 |
Net income | $7,380 | $6,744 |
Earnings per share: | ||
Basic (in dollars per share) | $1.58 | $1.43 |
Diluted (in dollars per share) | $1.58 | $1.43 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statement of Comprehensive Income [Abstract] | ||
Net income | $7,380 | $6,744 |
Securities: | ||
Net change in unrealized gain on securities available for sale | 1,133 | 84 |
Reclassification adjustment for net gains realized in net income | 0 | 0 |
Income taxes | -433 | -32 |
Other comprehensive income on securities available for sale | 700 | 52 |
Derivatives used in cash flow hedging relationships: | ||
Unrealized loss on derivatives | -1,092 | -1,079 |
Income taxes | 418 | 413 |
Other comprehensive loss on cash flow hedges | -674 | -666 |
Other comprehensive income (loss), net of tax | 26 | -614 |
Comprehensive income | $7,406 | $6,130 |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (USD $) | Total | Paid In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Unearned ESOP Shares [Member] | Treasury Stock [Member] | Maximum Cash Obligation Related To ESOP Shares [Member] |
In Thousands, unless otherwise specified | |||||||
Beginning Balance at Dec. 31, 2013 | $243,789 | $42,194 | $250,370 | $1,591 | ($1,008) | ($19,784) | ($29,574) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance of 3,067 and 146 shares of common stock for 3 months ended March 31, 2014 and 2015, respectively | 111 | 111 | |||||
Issuance 535 and 566 shares of common stock under the employee stock purchase plan for 3 months ended March 31, 2014 and 2015, respectively | 39 | 39 | |||||
Unearned restricted stock compensation | 59 | 59 | |||||
Forfeiture of 166 and 341 shares of common stock for 3 months ended March 31, 2014 and 2015, respectively | -12 | -12 | |||||
Share-based compensation | 7 | 7 | |||||
Income tax benefit related to share-based compensation | 50 | 50 | |||||
Change related to ESOP shares | -395 | -395 | |||||
Net income | 6,744 | 6,744 | |||||
Cash dividends ($1.15 and $1.25 per share for 3 months ended March 31, 2014 and 2015, respectively) | -5,421 | -5,421 | |||||
Purchase of 6,855 and 2,364 shares of common stock for 3 months ended March 31, 2014 and 2015, respectively | -517 | -517 | |||||
Other comprehensive loss | -614 | -614 | |||||
Ending Balance at Mar. 31, 2014 | 243,840 | 42,448 | 251,693 | 977 | -1,008 | -20,301 | -29,969 |
Beginning Balance at Dec. 31, 2014 | 255,528 | 42,925 | 271,924 | -448 | -504 | -23,798 | -34,571 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance of 3,067 and 146 shares of common stock for 3 months ended March 31, 2014 and 2015, respectively | 12 | 12 | |||||
Issuance 535 and 566 shares of common stock under the employee stock purchase plan for 3 months ended March 31, 2014 and 2015, respectively | 45 | 45 | |||||
Unearned restricted stock compensation | 89 | 89 | |||||
Forfeiture of 166 and 341 shares of common stock for 3 months ended March 31, 2014 and 2015, respectively | -22 | -22 | |||||
Share-based compensation | 7 | 7 | |||||
Income tax benefit related to share-based compensation | 4 | 4 | |||||
Change related to ESOP shares | -436 | -436 | |||||
Net income | 7,380 | 7,380 | |||||
Cash dividends ($1.15 and $1.25 per share for 3 months ended March 31, 2014 and 2015, respectively) | -5,855 | -5,855 | |||||
Purchase of 6,855 and 2,364 shares of common stock for 3 months ended March 31, 2014 and 2015, respectively | -195 | -195 | |||||
Other comprehensive loss | 26 | 26 | |||||
Ending Balance at Mar. 31, 2015 | $256,583 | $43,060 | $273,449 | ($422) | ($504) | ($23,993) | ($35,007) |
CONSOLIDATED_STATEMENTS_OF_STO1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Statement of Stockholders' Equity [Abstract] | ||
Issuance of common stock (in shares) | 146 | 3,067 |
Issuance of common stock purchased under the Employee Stock Purchase Plan (in shares) | 566 | 535 |
Forfeiture of common stock (in shares) | 341 | 166 |
Cash dividends (in dollars per share) | $1.25 | $1.15 |
Purchase of common stock (in shares) | 2,364 | 6,855 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash Flows from Operating Activities | ||
Net income | $7,380 | $6,744 |
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities: | ||
Depreciation | 685 | 681 |
Provision for loan losses | -62 | 45 |
Share-based compensation | 7 | 7 |
Forfeiture of common stock | -22 | -12 |
Compensation expensed through issuance of common stock | 57 | 49 |
Excess tax benefits from share-based compensation | -4 | -50 |
Provision for deferred income taxes | -295 | -321 |
Net gain on sale of other real estate owned and other repossessed assets | -7 | -72 |
Increase in accrued interest receivable | -826 | -1,075 |
Amortization of discount on investment securities, net | 172 | 216 |
Increase in other assets | -413 | -265 |
Increase in accrued interest payable and other liabilities | 4,750 | 3,994 |
Loans originated for sale | -40,577 | -16,518 |
Proceeds on sales of loans | 37,050 | 19,686 |
Net gain on sales of loans | -308 | -111 |
Net cash and cash equivalents provided by operating activities | 7,587 | 12,998 |
Cash Flows from Investing Activities | ||
Proceeds from maturities of investment securities available for sale | 11,906 | 22,806 |
Purchases of investment securities available for sale | -12,029 | -23,480 |
Loans made to customers, net of collections | 9,131 | 24,557 |
Proceeds on sale of other real estate owned and other repossessed assets | 55 | 489 |
Purchases of property and equipment | -4,080 | -190 |
Income from tax credit real estate, net | 214 | 209 |
Net cash and cash equivalents used in investing activities | -13,065 | -24,723 |
Cash Flows from Financing Activities | ||
Net increase in deposits | 72,266 | 64,326 |
Net decrease in other borrowings | -6,571 | -1,439 |
Stock options exercised | 0 | 101 |
Excess tax benefits related to share-based compensation | 4 | 50 |
Purchase of treasury stock | -195 | -517 |
Dividends paid | -5,855 | -5,421 |
Net cash and cash equivalents provided by financing activities | 59,649 | 57,100 |
Increase in cash and cash equivalents | 54,171 | 45,375 |
Cash and cash equivalents: | ||
Beginning of year | 29,174 | 43,702 |
End of period | 83,345 | 89,077 |
Cash payments for: | ||
Interest paid to depositors | 2,207 | 2,535 |
Interest paid on other obligations | 1,471 | 1,381 |
Income taxes paid | 120 | 502 |
Noncash activities: | ||
Increase in maximum cash obligation related to ESOP shares | 436 | 395 |
Transfers to other real estate owned | 63 | 800 |
Sale and financing of other real estate owned | $113 | $0 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Notes) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies |
Basis of Presentation: | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial reporting and with instructions for Form 10-Q and Regulation S-X. These financial statements include all adjustments (consisting of normal recurring accruals) which in the opinion of management are considered necessary for the fair presentation of the financial position and results of operations for the periods shown. Certain prior year amounts have been reclassified to conform to the current year presentation. The Company considers that it operates as one business segment, a commercial bank. | |
Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2014. For further information, refer to the consolidated financial statements and footnotes thereto included in the Form 10-K Annual Report of Hills Bancorporation and subsidiary (the “Company”) for the year ended December 31, 2014 filed with the Securities Exchange Commission on March 11, 2015. The consolidated balance sheet as of December 31, 2014, has been derived from the audited consolidated financial statements for that period. | |
The Company evaluated subsequent events through the filing date of its quarterly report on Form 10-Q with the SEC. | |
Effect of New Financial Accounting Standards: | |
In May 2014, The FASB and International Accounting Standards Board (IASB) issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The core principle of ASU 2014-09 is that a company should recognize revenue to depict the transfer of promised good or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. For financial institutions, significant changes are not expected given that most financial instruments are not in the scope of the accounting standard update. ASU 2014-09 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2016. Early adoption is not permitted. The Company is currently reviewing the provisions of this standard to determine the application to financial institutions. The adoption of ASU 2014-09 by the Company is not expected to have a material impact. | |
In April 2015, the FASB issued ASU No. 2015-05, Intangibles – Goodwill and Other Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement. ASU 2015-05 provides guidance to customers about whether a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. ASU 2015-05 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. The adoption of ASU 2015-05 by the Company is not expected to have a material impact. |
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Earnings Per Share [Abstract] | ||||||||
Earnings Per Share | Earnings Per Share | |||||||
Basic earnings per share is computed using the weighted average number of actual common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that would occur from the exercise of common stock options outstanding. ESOP shares are considered outstanding for this calculation unless unearned. | ||||||||
The computation of basic and diluted earnings per share for the periods presented is as follows: | ||||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Common shares outstanding at the beginning of the period | 4,690,216 | 4,711,995 | ||||||
Weighted average number of net shares redeemed | (8,568 | ) | (1,502 | ) | ||||
Weighted average shares outstanding (basic) | 4,681,648 | 4,710,493 | ||||||
Weighted average of potential dilutive shares attributable to stock options granted, computed under the treasury stock method | 2,490 | 2,591 | ||||||
Weighted average number of shares (diluted) | 4,684,138 | 4,713,084 | ||||||
Net income (In thousands) | $ | 7,380 | $ | 6,744 | ||||
Earnings per share: | ||||||||
Basic | $ | 1.58 | $ | 1.43 | ||||
Diluted | $ | 1.58 | $ | 1.43 | ||||
Other_Comprehensive_Income
Other Comprehensive Income | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Equity [Abstract] | ||||||||
Other Comprehensive Income | Other Comprehensive Income (Loss) | |||||||
The following table summarizes the balances of each component of accumulated other comprehensive income (AOCI), included in stockholders’ equity, at March 31, 2015 and December 31, 2014: | ||||||||
March 31, 2015 | December 31, 2014 | |||||||
(amounts in thousands) | ||||||||
Net unrealized gain on available-for-sale securities | $ | 3,205 | $ | 2,072 | ||||
Net unrealized loss on derivatives used for cash flow hedges | (3,888 | ) | (2,796 | ) | ||||
Tax effect | 261 | 276 | ||||||
Net-of-tax amount | $ | (422 | ) | $ | (448 | ) |
Securities
Securities | 3 Months Ended | |||||||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||
Securities | Securities | |||||||||||||||||||||||||||||||||||||||||
The carrying values of investment securities at March 31, 2015 and December 31, 2014 are summarized in the following table (dollars in thousands): | ||||||||||||||||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||
Amount | Percent | Amount | Percent | |||||||||||||||||||||||||||||||||||||||
Securities available for sale | ||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 22,569 | 8.68 | % | $ | 22,333 | 8.62 | % | ||||||||||||||||||||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | 65,951 | 25.38 | 67,691 | 26.14 | ||||||||||||||||||||||||||||||||||||||
State and political subdivisions | 171,358 | 65.94 | 168,968 | 65.24 | ||||||||||||||||||||||||||||||||||||||
Total securities available for sale | $ | 259,878 | 100 | % | $ | 258,992 | 100 | % | ||||||||||||||||||||||||||||||||||
Investment securities have been classified in the consolidated balance sheets according to management’s intent. Available-for-sale securities consist of debt securities not classified as trading or held to maturity. Available-for-sale securities are stated at fair value, and unrealized holding gains and losses, net of the related deferred tax effect, are reported as a separate component of stockholders' equity. There were no trading or held to maturity securities as of March 31, 2015 or December 31, 2014. The carrying amount of available-for-sale securities and their approximate fair values were as follows as of March 31, 2015 and December 31, 2014 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||
Amortized Cost | Gross | Gross | Estimated Fair | |||||||||||||||||||||||||||||||||||||||
Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||||||||
Gains | (Losses) | |||||||||||||||||||||||||||||||||||||||||
March 31, 2015: | ||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 22,362 | $ | 207 | $ | — | $ | 22,569 | ||||||||||||||||||||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | 65,693 | 294 | (36 | ) | 65,951 | |||||||||||||||||||||||||||||||||||||
State and political subdivisions | 168,618 | 2,921 | (181 | ) | 171,358 | |||||||||||||||||||||||||||||||||||||
Total | $ | 256,673 | $ | 3,422 | $ | (217 | ) | $ | 259,878 | |||||||||||||||||||||||||||||||||
December 31, 2014: | ||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 22,351 | $ | 18 | $ | (36 | ) | $ | 22,333 | |||||||||||||||||||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | 67,644 | 147 | (100 | ) | 67,691 | |||||||||||||||||||||||||||||||||||||
State and political subdivisions | 166,925 | 2,499 | (456 | ) | 168,968 | |||||||||||||||||||||||||||||||||||||
Total | $ | 256,920 | $ | 2,664 | $ | (592 | ) | $ | 258,992 | |||||||||||||||||||||||||||||||||
The amortized cost and estimated fair value of available-for-sale securities classified according to their contractual maturities at March 31, 2015, were as follows (in thousands): | ||||||||||||||||||||||||||||||||||||||||||
Amortized | Fair Value | |||||||||||||||||||||||||||||||||||||||||
Cost | ||||||||||||||||||||||||||||||||||||||||||
Due in one year or less | $ | 41,404 | $ | 41,510 | ||||||||||||||||||||||||||||||||||||||
Due after one year through five years | 143,583 | 145,765 | ||||||||||||||||||||||||||||||||||||||||
Due after five years through ten years | 70,361 | 71,278 | ||||||||||||||||||||||||||||||||||||||||
Due over ten years | 1,325 | 1,325 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 256,673 | $ | 259,878 | ||||||||||||||||||||||||||||||||||||||
As of March 31, 2015 investment securities with a carrying value of $62.34 million were pledged to collateralize repurchase agreements, derivative financial instruments, and other borrowings. | ||||||||||||||||||||||||||||||||||||||||||
The following table shows the fair value, gross unrealized losses and the percentage of fair value represented by gross unrealized losses of applicable investment securities owned by the Company, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2015 and December 31, 2014 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||||||||||||||||||||
31-Mar-15 | # | Fair Value | Unrealized | % | # | Fair Value | Unrealized | % | # | Fair Value | Unrealized | % | ||||||||||||||||||||||||||||||
Description of Securities | Loss | Loss | Loss | |||||||||||||||||||||||||||||||||||||||
U.S. Treasury | — | $ | — | $ | — | — | % | — | $ | — | $ | — | — | % | — | $ | — | $ | — | — | % | |||||||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | 5 | 13,423 | (36 | ) | 0.27 | % | — | — | — | — | % | 5 | 13,423 | (36 | ) | 0.27 | % | |||||||||||||||||||||||||
State and political subdivisions | 66 | 14,617 | (70 | ) | 0.48 | % | 28 | 6,070 | (111 | ) | 1.83 | % | 94 | 20,687 | (181 | ) | 0.87 | % | ||||||||||||||||||||||||
Total temporarily impaired securities | 71 | $ | 28,040 | $ | (106 | ) | 0.38 | % | 28 | $ | 6,070 | $ | (111 | ) | 1.83 | % | 99 | $ | 34,110 | $ | (217 | ) | 0.64 | % | ||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||||||||||||||||||||
31-Dec-14 | # | Fair Value | Unrealized | % | # | Fair Value | Unrealized | % | # | Fair Value | Unrealized | % | ||||||||||||||||||||||||||||||
Description of Securities | Loss | Loss | Loss | |||||||||||||||||||||||||||||||||||||||
U.S. Treasury | 5 | $ | 12,396 | $ | (36 | ) | 0.29 | % | — | $ | — | $ | — | — | % | 5 | $ | 12,396 | $ | (36 | ) | 0.29 | % | |||||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | 10 | 24,382 | (100 | ) | 0.41 | — | — | — | — | 10 | 24,382 | (100 | ) | 0.41 | ||||||||||||||||||||||||||||
State and political subdivisions | 91 | 21,724 | (124 | ) | 0.57 | 78 | 16,154 | (332 | ) | 2.06 | 169 | 37,878 | (456 | ) | 1.2 | |||||||||||||||||||||||||||
Total temporarily impaired securities | 106 | $ | 58,502 | $ | (260 | ) | 0.44 | % | 78 | $ | 16,154 | $ | (332 | ) | 2.06 | % | 184 | $ | 74,656 | $ | (592 | ) | 0.79 | % | ||||||||||||||||||
The Company considered the following information in reaching the conclusion that the impairments disclosed in the table above are temporary and not other-than-temporary impairments. None of the unrealized losses in the above table was due to the deterioration in the credit quality of any of the issues that might result in the non-collection of contractual principal and interest. The unrealized losses are due to changes in interest rates. The Company has not recognized any unrealized loss in income because management does not have the intent to sell the securities included in the previous table. Management has concluded that it is more likely than not that the Company will not be required to sell these securities prior to recovery of the amortized cost basis. |
Loans
Loans | 3 Months Ended | |||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||
Loans | Loans | |||||||||||||||||||||||||||||||
Classes of loans are as follows: | ||||||||||||||||||||||||||||||||
March 31, | December 31, | |||||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||||||||||||||
Agricultural | $ | 88,574 | $ | 97,645 | ||||||||||||||||||||||||||||
Commercial and financial | 180,392 | 174,738 | ||||||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 50,541 | 45,949 | ||||||||||||||||||||||||||||||
Construction, land development and commercial | 76,003 | 77,020 | ||||||||||||||||||||||||||||||
Mortgage, farmland | 169,058 | 162,503 | ||||||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 678,054 | 672,674 | ||||||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 110,728 | 110,284 | ||||||||||||||||||||||||||||||
Mortgage, multi-family | 243,441 | 245,213 | ||||||||||||||||||||||||||||||
Mortgage, commercial | 321,216 | 321,601 | ||||||||||||||||||||||||||||||
Loans to individuals | 21,003 | 21,342 | ||||||||||||||||||||||||||||||
Obligations of state and political subdivisions | 55,160 | 55,729 | ||||||||||||||||||||||||||||||
$ | 1,994,170 | $ | 1,984,698 | |||||||||||||||||||||||||||||
Net unamortized fees and costs | 689 | 691 | ||||||||||||||||||||||||||||||
$ | 1,994,859 | $ | 1,985,389 | |||||||||||||||||||||||||||||
Less allowance for loan losses | 24,360 | 24,020 | ||||||||||||||||||||||||||||||
$ | 1,970,499 | $ | 1,961,369 | |||||||||||||||||||||||||||||
Changes in the allowance for loan losses, the allowance for loan losses applicable to impaired loans and the related loan balance of impaired loans for the three months ended March 31, 2015 were as follows: | ||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | ||||||||||||||||||||||||||||||||
Agricultural | Commercial and | Real Estate: | Real Estate: | Real Estate: | Real Estate: | Other | Total | |||||||||||||||||||||||||
Financial | Construction and | Mortgage, | Mortgage, 1 to 4 | Mortgage, multi- | ||||||||||||||||||||||||||||
land development | farmland | family | family and | |||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 2,515 | $ | 4,231 | $ | 2,241 | $ | 2,672 | $ | 7,419 | $ | 4,195 | $ | 747 | $ | 24,020 | ||||||||||||||||
Charge-offs | (43 | ) | (66 | ) | (84 | ) | — | (347 | ) | (179 | ) | (48 | ) | (767 | ) | |||||||||||||||||
Recoveries | 82 | 401 | 151 | 6 | 413 | 70 | 46 | 1,169 | ||||||||||||||||||||||||
Provision | (10 | ) | (208 | ) | (58 | ) | 99 | (29 | ) | 39 | 105 | (62 | ) | |||||||||||||||||||
Ending balance | $ | 2,544 | $ | 4,358 | $ | 2,250 | $ | 2,777 | $ | 7,456 | $ | 4,125 | $ | 850 | $ | 24,360 | ||||||||||||||||
Ending balance, individually evaluated for impairment | $ | 13 | $ | 7 | $ | 33 | $ | 26 | $ | 68 | $ | 8 | $ | — | $ | 155 | ||||||||||||||||
Ending balance, collectively evaluated for impairment | $ | 2,531 | $ | 4,351 | $ | 2,217 | $ | 2,751 | $ | 7,388 | $ | 4,117 | $ | 850 | $ | 24,205 | ||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance | $ | 88,574 | $ | 180,392 | $ | 126,544 | $ | 169,058 | $ | 788,782 | $ | 564,657 | $ | 76,163 | $ | 1,994,170 | ||||||||||||||||
Ending balance, individually evaluated for impairment | $ | 1,851 | $ | 2,284 | $ | 954 | $ | 2,464 | $ | 3,559 | $ | 9,536 | $ | — | $ | 20,648 | ||||||||||||||||
Ending balance, collectively evaluated for impairment | $ | 86,723 | $ | 178,108 | $ | 125,590 | $ | 166,594 | $ | 785,223 | $ | 555,121 | $ | 76,163 | $ | 1,973,522 | ||||||||||||||||
Changes in the allowance for loan losses for the three months ended March 31, 2014 were as follows: | ||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||||||
Agricultural | Commercial and | Real Estate: | Real Estate: | Real Estate: | Real Estate: | Other | Total | |||||||||||||||||||||||||
Financial | Construction and | Mortgage, | Mortgage, | Mortgage, multi- | ||||||||||||||||||||||||||||
land development | farmland | 1 to 4 family | family and | |||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 2,852 | $ | 4,733 | $ | 2,918 | $ | 2,557 | $ | 7,064 | $ | 4,787 | $ | 639 | $ | 25,550 | ||||||||||||||||
Charge-offs | (100 | ) | (84 | ) | (2 | ) | — | (307 | ) | — | (33 | ) | $ | (526 | ) | |||||||||||||||||
Recoveries | 3 | 350 | 186 | — | 179 | 41 | 32 | $ | 791 | |||||||||||||||||||||||
Provision | 1,307 | (480 | ) | (141 | ) | 225 | (315 | ) | (564 | ) | 13 | $ | 45 | |||||||||||||||||||
Ending balance | $ | 4,062 | $ | 4,519 | $ | 2,961 | $ | 2,782 | $ | 6,621 | $ | 4,264 | $ | 651 | $ | 25,860 | ||||||||||||||||
Ending balance, individually evaluated for impairment | $ | 3 | $ | 14 | $ | 14 | $ | — | $ | 58 | $ | 208 | $ | — | $ | 297 | ||||||||||||||||
Ending balance, collectively evaluated for impairment | $ | 4,059 | $ | 4,505 | $ | 2,947 | $ | 2,782 | $ | 6,563 | $ | 4,056 | $ | 651 | $ | 25,563 | ||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance | $ | 88,218 | $ | 162,855 | $ | 99,830 | $ | 145,620 | $ | 715,688 | $ | 564,919 | $ | 73,054 | $ | 1,850,184 | ||||||||||||||||
Ending balance, individually evaluated for impairment | $ | 274 | $ | 2,669 | $ | 1,285 | $ | 284 | $ | 4,011 | $ | 17,662 | $ | — | $ | 26,185 | ||||||||||||||||
Ending balance, collectively evaluated for impairment | $ | 87,944 | $ | 160,186 | $ | 98,545 | $ | 145,336 | $ | 711,677 | $ | 547,257 | $ | 73,054 | $ | 1,823,999 | ||||||||||||||||
The following table presents the credit quality indicators by type of loans in each category as of March 31, 2015 and December 31, 2014, respectively (amounts in thousands): | ||||||||||||||||||||||||||||||||
Agricultural | Commercial and | Real Estate: | Real Estate: | |||||||||||||||||||||||||||||
Financial | Construction, 1 to 4 | Construction, land | ||||||||||||||||||||||||||||||
family residential | development and | |||||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Grade: | ||||||||||||||||||||||||||||||||
Excellent | $ | 1,270 | $ | 4,428 | $ | — | $ | 271 | ||||||||||||||||||||||||
Good | 12,913 | 29,593 | 7,011 | 16,109 | ||||||||||||||||||||||||||||
Satisfactory | 37,680 | 107,829 | 30,039 | 44,116 | ||||||||||||||||||||||||||||
Monitor | 11,883 | 21,105 | 8,729 | 3,652 | ||||||||||||||||||||||||||||
Special Mention | 22,156 | 12,009 | 3,586 | 11,658 | ||||||||||||||||||||||||||||
Substandard | 2,672 | 5,428 | 1,176 | 197 | ||||||||||||||||||||||||||||
Total | $ | 88,574 | $ | 180,392 | $ | 50,541 | $ | 76,003 | ||||||||||||||||||||||||
Real Estate: | Real Estate: | Real Estate: Mortgage, | Real Estate: | |||||||||||||||||||||||||||||
Mortgage, | Mortgage, 1 to 4 | 1 to 4 family junior | Mortgage, multi- | |||||||||||||||||||||||||||||
farmland | family first liens | liens | family | |||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Grade: | ||||||||||||||||||||||||||||||||
Excellent | $ | 2,701 | $ | 464 | $ | — | $ | 6,925 | ||||||||||||||||||||||||
Good | 34,038 | 21,627 | 3,166 | 72,585 | ||||||||||||||||||||||||||||
Satisfactory | 105,477 | 575,973 | 99,103 | 111,397 | ||||||||||||||||||||||||||||
Monitor | 12,233 | 43,324 | 3,963 | 35,196 | ||||||||||||||||||||||||||||
Special Mention | 11,119 | 18,082 | 2,425 | 16,972 | ||||||||||||||||||||||||||||
Substandard | 3,490 | 18,584 | 2,071 | 366 | ||||||||||||||||||||||||||||
Total | $ | 169,058 | $ | 678,054 | $ | 110,728 | $ | 243,441 | ||||||||||||||||||||||||
Real Estate: | Loans to | Obligations of state and | Total | |||||||||||||||||||||||||||||
Mortgage, | individuals | political subdivisions | ||||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Grade: | ||||||||||||||||||||||||||||||||
Excellent | $ | 15,466 | $ | — | $ | 2,422 | $ | 33,947 | ||||||||||||||||||||||||
Good | 82,434 | 95 | 42,677 | 322,248 | ||||||||||||||||||||||||||||
Satisfactory | 184,925 | 20,095 | 10,035 | 1,326,669 | ||||||||||||||||||||||||||||
Monitor | 22,407 | 340 | — | 162,832 | ||||||||||||||||||||||||||||
Special Mention | 10,076 | 287 | 26 | 108,396 | ||||||||||||||||||||||||||||
Substandard | 5,908 | 186 | — | 40,078 | ||||||||||||||||||||||||||||
Total | $ | 321,216 | $ | 21,003 | $ | 55,160 | $ | 1,994,170 | ||||||||||||||||||||||||
Agricultural | Commercial and | Real Estate: | Real Estate: | |||||||||||||||||||||||||||||
Financial | Construction, 1 to 4 | Construction, land | ||||||||||||||||||||||||||||||
family residential | development and | |||||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Grade: | ||||||||||||||||||||||||||||||||
Excellent | $ | 1,375 | $ | 4,820 | $ | — | $ | 276 | ||||||||||||||||||||||||
Good | 13,214 | 37,941 | 6,893 | 13,875 | ||||||||||||||||||||||||||||
Satisfactory | 51,107 | 94,158 | 27,738 | 47,852 | ||||||||||||||||||||||||||||
Monitor | 15,243 | 20,445 | 8,435 | 2,811 | ||||||||||||||||||||||||||||
Special Mention | 13,070 | 11,031 | 1,881 | 11,870 | ||||||||||||||||||||||||||||
Substandard | 3,636 | 6,343 | 1,002 | 336 | ||||||||||||||||||||||||||||
Total | $ | 97,645 | $ | 174,738 | $ | 45,949 | $ | 77,020 | ||||||||||||||||||||||||
Real Estate: | Real Estate: | Real Estate: Mortgage, | Real Estate: | |||||||||||||||||||||||||||||
Mortgage, | Mortgage, 1 to 4 | 1 to 4 family junior | Mortgage, multi- | |||||||||||||||||||||||||||||
farmland | family first liens | liens | family | |||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Grade: | ||||||||||||||||||||||||||||||||
Excellent | $ | 2,867 | $ | 474 | $ | — | $ | 7,011 | ||||||||||||||||||||||||
Good | 36,680 | 22,094 | 2,875 | 73,852 | ||||||||||||||||||||||||||||
Satisfactory | 103,552 | 571,546 | 99,095 | 111,650 | ||||||||||||||||||||||||||||
Monitor | 11,754 | 41,805 | 3,377 | 35,812 | ||||||||||||||||||||||||||||
Special Mention | 4,721 | 18,428 | 2,520 | 16,611 | ||||||||||||||||||||||||||||
Substandard | 2,929 | 18,327 | 2,417 | 277 | ||||||||||||||||||||||||||||
Total | $ | 162,503 | $ | 672,674 | $ | 110,284 | $ | 245,213 | ||||||||||||||||||||||||
Real Estate: | Loans to | Obligations of state and | Total | |||||||||||||||||||||||||||||
Mortgage, | individuals | political subdivisions | ||||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Grade: | ||||||||||||||||||||||||||||||||
Excellent | $ | 15,416 | $ | 87 | $ | 2,440 | $ | 34,766 | ||||||||||||||||||||||||
Good | 87,612 | 94 | 43,108 | 338,238 | ||||||||||||||||||||||||||||
Satisfactory | 178,069 | 20,465 | 10,181 | 1,315,413 | ||||||||||||||||||||||||||||
Monitor | 25,165 | 251 | — | 165,098 | ||||||||||||||||||||||||||||
Special Mention | 9,371 | 353 | — | 89,856 | ||||||||||||||||||||||||||||
Substandard | 5,968 | 92 | — | 41,327 | ||||||||||||||||||||||||||||
Total | $ | 321,601 | $ | 21,342 | $ | 55,729 | $ | 1,984,698 | ||||||||||||||||||||||||
The below are descriptions of the credit quality indicators: | ||||||||||||||||||||||||||||||||
Excellent – Excellent rated loans are prime quality loans covered by highly liquid collateral with generous margins or supported by superior current financial conditions reflecting substantial net worth, relative to total credit extended, and based on assets of a stable and non-speculative nature whose values can be readily verified. Identified repayment source or cash flow is abundant and assured. | ||||||||||||||||||||||||||||||||
Good – Good rated loans are adequately secured by readily marketable collateral or good financial condition characterized by liquidity, flexibility and sound net worth. Loans are supported by sound primary and secondary payment sources and timely and accurate financial information. | ||||||||||||||||||||||||||||||||
Satisfactory – Satisfactory rated loans are loans to borrowers of average financial means not especially vulnerable to changes in economic or other circumstances, where the major support for the extension is sufficient collateral of a marketable nature, and the primary source of repayment is seen to be clear and adequate. | ||||||||||||||||||||||||||||||||
Monitor – Monitor rated loans are identified by management as warranting special attention for a variety of reasons that may bear on ultimate collectability. This may be due to adverse trends, a particular industry, loan structure, or repayment that is dependent on projections, or a one-time occurrence. | ||||||||||||||||||||||||||||||||
Special Mention – Special mention rated loans are supported by a marginal payment capacity and are marginally protected by collateral. There are identified weaknesses that if not monitored and corrected may adversely affect the Company’s credit position. A special mention credit would typically have a weakness in one of the general categories (cash flow, collateral position or payment history) but not in all categories. | ||||||||||||||||||||||||||||||||
Substandard – Substandard loans are not adequately supported by the paying capacity of the borrower and may be inadequately collateralized. These loans have a well-defined weakness or weaknesses. For these loans, it is more probable than not that the Company could sustain some loss if the deficiency(ies) is not corrected. | ||||||||||||||||||||||||||||||||
Past due loans as of March 31, 2015 and December 31, 2014 were as follows: | ||||||||||||||||||||||||||||||||
30 - 59 Days | 60 - 89 Days | 90 Days | Total Past | Current | Total | Accruing Loans | ||||||||||||||||||||||||||
Past Due | Past Due | or More | Due | Loans | Past Due 90 | |||||||||||||||||||||||||||
Past Due | Receivable | Days or More | ||||||||||||||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||
Agricultural | $ | 1,797 | $ | — | $ | 70 | $ | 1,867 | $ | 86,707 | $ | 88,574 | $ | — | ||||||||||||||||||
Commercial and financial | 1,662 | — | 208 | 1,870 | 178,522 | 180,392 | — | |||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 276 | — | 199 | 475 | 50,066 | 50,541 | — | |||||||||||||||||||||||||
Construction, land development and commercial | 1,136 | 74 | — | 1,210 | 74,793 | 76,003 | — | |||||||||||||||||||||||||
Mortgage, farmland | — | — | — | — | 169,058 | 169,058 | — | |||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 4,273 | 271 | 759 | 5,303 | 672,751 | 678,054 | — | |||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 172 | 16 | — | 188 | 110,540 | 110,728 | — | |||||||||||||||||||||||||
Mortgage, multi-family | 821 | — | — | 821 | 242,620 | 243,441 | — | |||||||||||||||||||||||||
Mortgage, commercial | 1,463 | 227 | 33 | 1,723 | 319,493 | 321,216 | — | |||||||||||||||||||||||||
Loans to individuals | 28 | — | — | 28 | 20,975 | 21,003 | — | |||||||||||||||||||||||||
Obligations of state and political subdivisions | — | — | — | — | 55,160 | 55,160 | — | |||||||||||||||||||||||||
$ | 11,628 | $ | 588 | $ | 1,269 | $ | 13,485 | $ | 1,980,685 | $ | 1,994,170 | $ | — | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Agricultural | $ | 310 | $ | 99 | $ | — | $ | 409 | $ | 97,236 | $ | 97,645 | $ | — | ||||||||||||||||||
Commercial and financial | 397 | 14 | 1,048 | 1,459 | $ | 173,279 | 174,738 | — | ||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | — | — | — | — | $ | 45,949 | 45,949 | — | ||||||||||||||||||||||||
Construction, land development and commercial | 937 | — | — | 937 | $ | 76,083 | 77,020 | — | ||||||||||||||||||||||||
Mortgage, farmland | 753 | — | — | 753 | $ | 161,750 | 162,503 | — | ||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 3,594 | 1,656 | 1,582 | 6,832 | $ | 665,842 | 672,674 | 348 | ||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 181 | 12 | 244 | 437 | $ | 109,847 | 110,284 | — | ||||||||||||||||||||||||
Mortgage, multi-family | — | 21 | — | 21 | $ | 245,192 | 245,213 | — | ||||||||||||||||||||||||
Mortgage, commercial | 359 | 557 | 34 | 950 | $ | 320,651 | 321,601 | — | ||||||||||||||||||||||||
Loans to individuals | 27 | — | — | 27 | $ | 21,315 | 21,342 | — | ||||||||||||||||||||||||
Obligations of state and political subdivisions | — | — | — | — | 55,729 | 55,729 | — | |||||||||||||||||||||||||
$ | 6,558 | $ | 2,359 | $ | 2,908 | $ | 11,825 | $ | 1,972,873 | $ | 1,984,698 | $ | 348 | |||||||||||||||||||
The Company does not have a material amount of loans that are past due less than 90 days where there are serious doubts as to the ability of the borrowers to comply with the loan repayment terms. | ||||||||||||||||||||||||||||||||
Certain impaired loan information by loan type at March 31, 2015 and December 31, 2014, was as follows: | ||||||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||||||
Non-accrual | Accruing loans | TDR loans | Non- | Accruing loans | TDR loans | |||||||||||||||||||||||||||
loans (1) | past due 90 days | accrual | past due 90 days | |||||||||||||||||||||||||||||
or more | loans (1) | or more | ||||||||||||||||||||||||||||||
(Amounts In Thousands) | (Amounts In Thousands) | |||||||||||||||||||||||||||||||
Agricultural | $ | 70 | $ | — | $ | 1,781 | $ | — | $ | — | $ | 1,942 | ||||||||||||||||||||
Commercial and financial | 1,402 | — | 882 | 1,343 | — | 1,366 | ||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 503 | — | 326 | — | — | 431 | ||||||||||||||||||||||||||
Construction, land development and commercial | — | — | 125 | 127 | — | — | ||||||||||||||||||||||||||
Mortgage, farmland | — | — | 2,464 | — | — | 2,220 | ||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 2,060 | — | 1,343 | 1,912 | 348 | 1,199 | ||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 129 | — | 27 | 369 | — | — | ||||||||||||||||||||||||||
Mortgage, multi-family | 148 | — | 5,436 | 55 | — | 5,470 | ||||||||||||||||||||||||||
Mortgage, commercial | 2,113 | — | 1,839 | 2,275 | — | 1,712 | ||||||||||||||||||||||||||
Loans to individuals | — | — | — | — | — | — | ||||||||||||||||||||||||||
$ | 6,425 | $ | — | $ | 14,223 | $ | 6,081 | $ | 348 | $ | 14,340 | |||||||||||||||||||||
-1 | There were $2.07 million and $2.14 million of TDR loans included within nonaccrual loans as of March 31, 2015 and December 31, 2014, respectively. | |||||||||||||||||||||||||||||||
Loans 90 days or more past due that are still accruing interest decreased $0.35 million from December 31, 2014 to March 31, 2015 due to a decrease in the number of loans past due greater than 90 days. As of March 31, 2015 there were no accruing loans past due 90 days or more. The average accruing loans past due 90 days or more as of December 31, 2014 was $0.07 million. The accruing loans past due 90 days or more balances are believed to be adequately collateralized and the Company expects to collect all principal and interest as contractually due under these loans. | ||||||||||||||||||||||||||||||||
The Company may modify the terms of a loan to maximize the collection of amounts due. Such a modification is considered a troubled debt restructuring (“TDR”). In most cases, the modification is either a reduction in interest rate, conversion to interest only payments or an extension of the maturity date. The borrower is experiencing financial difficulties or is expected to experience difficulties in the near-term, so a concessionary modification is granted to the borrower that would otherwise not be considered. TDR loans accrue interest as long as the borrower complies with the revised terms and conditions and has demonstrated repayment performance at a level commensurate with the modified terms over several payment cycles. | ||||||||||||||||||||||||||||||||
Below is a summary of information for TDR loans as of March 31, 2015 and December 31, 2014: | ||||||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||||||
Number | Recorded | Commitments | Number | Recorded | Commitments | |||||||||||||||||||||||||||
of | investment | outstanding | of | investment | outstanding | |||||||||||||||||||||||||||
contracts | contracts | |||||||||||||||||||||||||||||||
(Amounts In Thousands) | (Amounts In Thousands) | |||||||||||||||||||||||||||||||
Agricultural | 8 | $ | 1,782 | $ | 130 | 9 | $ | 1,942 | $ | 272 | ||||||||||||||||||||||
Commercial and financial | 12 | 1,844 | 87 | 13 | 2,202 | 53 | ||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 3 | 499 | 11 | 3 | 431 | 111 | ||||||||||||||||||||||||||
Construction, land development and commercial | 1 | 135 | — | 1 | 127 | — | ||||||||||||||||||||||||||
Mortgage, farmland | 6 | 2,464 | — | 4 | 2,220 | — | ||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 12 | 1,608 | 45 | 11 | 1,467 | — | ||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 1 | 27 | — | 1 | 225 | 65 | ||||||||||||||||||||||||||
Mortgage, multi-family | 2 | 5,436 | — | 2 | 5,470 | — | ||||||||||||||||||||||||||
Mortgage, commercial | 9 | 2,505 | — | 8 | 2,398 | — | ||||||||||||||||||||||||||
Loans to individuals | — | — | — | — | — | — | ||||||||||||||||||||||||||
54 | $ | 16,300 | $ | 273 | 52 | $ | 16,482 | $ | 501 | |||||||||||||||||||||||
The following is a summary of TDR loans that were modified during the three months ended March 31, 2015: | ||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | ||||||||||||||||||||||||||||||||
Number | Pre-modification | Post-modification | ||||||||||||||||||||||||||||||
of | recorded | recorded | ||||||||||||||||||||||||||||||
contracts | investment | investment | ||||||||||||||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||||||||||||||
Agricultural | 3 | $ | 160 | $ | 160 | |||||||||||||||||||||||||||
Commercial and financial | 1 | 191 | 177 | |||||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | — | — | — | |||||||||||||||||||||||||||||
Construction, land development and commercial | — | — | — | |||||||||||||||||||||||||||||
Mortgage, farmland | 3 | 644 | 531 | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family first lien | 1 | 157 | 157 | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 1 | 27 | 27 | |||||||||||||||||||||||||||||
Mortgage, multi-family | — | — | — | |||||||||||||||||||||||||||||
Mortgage, commercial | 1 | 178 | 146 | |||||||||||||||||||||||||||||
10 | $ | 1,357 | $ | 1,198 | ||||||||||||||||||||||||||||
The Company had commitments to lend $0.27 million in additional borrowings to restructured loan customers as of March 31, 2015. The Company had commitments to lend $0.50 million in additional borrowings to restructured loan customers as of December 31, 2014. These commitments were in the normal course of business. The additional borrowings were not used to facilitate payments on these loans. | ||||||||||||||||||||||||||||||||
There were $0.26 million and $0.00 million of TDR loans that were in payment default (defined as past due 90 days or more) as of March 31, 2015 and December 31, 2014, respectively. As of March 31, 2015, TDR loans in payment default consisted of a $0.17 million 1 to 4 family residential construction mortgage loan and a $0.09 million 1 to 4 family first lien real estate loan. | ||||||||||||||||||||||||||||||||
Information regarding impaired loans as of and for the three months ended March 31, 2015 is as follows: | ||||||||||||||||||||||||||||||||
March 31, 2015 | Three Months Ended | |||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average Recorded | Interest Income | ||||||||||||||||||||||||||||
Investment | Principal | Allowance | Investment | Recognized | ||||||||||||||||||||||||||||
Balance | ||||||||||||||||||||||||||||||||
With no related allowance recorded: | (Amounts In Thousands) | |||||||||||||||||||||||||||||||
Agricultural | $ | 1,683 | $ | 1,709 | $ | — | $ | 1,576 | $ | 18 | ||||||||||||||||||||||
Commercial and financial | 1,678 | 3,197 | — | 1,724 | 4 | |||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 183 | 244 | — | 179 | 1 | |||||||||||||||||||||||||||
Construction, land development and commercial | 125 | 220 | — | 126 | 1 | |||||||||||||||||||||||||||
Mortgage, farmland | 2,332 | 2,445 | — | 2,354 | 28 | |||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 3,089 | 3,769 | — | 3,175 | 12 | |||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 129 | 426 | — | 136 | — | |||||||||||||||||||||||||||
Mortgage, multi-family | 5,584 | 5,677 | — | 5,609 | 61 | |||||||||||||||||||||||||||
Mortgage, commercial | 3,259 | 4,735 | — | 3,363 | 15 | |||||||||||||||||||||||||||
Loans to individuals | — | 20 | — | — | — | |||||||||||||||||||||||||||
$ | 18,062 | $ | 22,442 | $ | — | $ | 18,242 | $ | 140 | |||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||
Agricultural | $ | 168 | $ | 168 | $ | 13 | $ | 170 | $ | 2 | ||||||||||||||||||||||
Commercial and financial | 606 | 606 | 7 | 620 | 8 | |||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 646 | 658 | 33 | 646 | 2 | |||||||||||||||||||||||||||
Construction, land development and commercial | — | — | — | — | — | |||||||||||||||||||||||||||
Mortgage, farmland | 132 | 132 | 26 | 132 | 2 | |||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 314 | 313 | 63 | 313 | 3 | |||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 27 | 27 | 5 | 27 | — | |||||||||||||||||||||||||||
Mortgage, multi-family | — | — | — | — | — | |||||||||||||||||||||||||||
Mortgage, commercial | 693 | 693 | 8 | 695 | 9 | |||||||||||||||||||||||||||
Loans to individuals | — | — | — | — | — | |||||||||||||||||||||||||||
$ | 2,586 | $ | 2,597 | $ | 155 | $ | 2,603 | $ | 26 | |||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||||||
Agricultural | $ | 1,851 | $ | 1,877 | $ | 13 | $ | 1,746 | $ | 20 | ||||||||||||||||||||||
Commercial and financial | 2,284 | 3,803 | 7 | 2,344 | 12 | |||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 829 | 902 | 33 | 825 | 3 | |||||||||||||||||||||||||||
Construction, land development and commercial | 125 | 220 | — | 126 | 1 | |||||||||||||||||||||||||||
Mortgage, farmland | 2,464 | 2,577 | 26 | 2,486 | 30 | |||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 3,403 | 4,082 | 63 | 3,488 | 15 | |||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 156 | 453 | 5 | 163 | — | |||||||||||||||||||||||||||
Mortgage, multi-family | 5,584 | 5,677 | — | 5,609 | 61 | |||||||||||||||||||||||||||
Mortgage, commercial | 3,952 | 5,428 | 8 | 4,058 | 24 | |||||||||||||||||||||||||||
Loans to individuals | — | 20 | — | — | — | |||||||||||||||||||||||||||
$ | 20,648 | $ | 25,039 | $ | 155 | $ | 20,845 | $ | 166 | |||||||||||||||||||||||
Information regarding impaired loans as of December 31, 2014 is as follows: | ||||||||||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | ||||||||||||||||||||||||||||||
Investment | Balance | Allowance | ||||||||||||||||||||||||||||||
With no related allowance recorded: | (Amounts In Thousands) | |||||||||||||||||||||||||||||||
Agricultural | $ | 1,634 | $ | 1,696 | $ | — | ||||||||||||||||||||||||||
Commercial and financial | 2,076 | 3,695 | — | |||||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 89 | 89 | — | |||||||||||||||||||||||||||||
Construction, land development and commercial | 128 | 220 | — | |||||||||||||||||||||||||||||
Mortgage, farmland | 2,040 | 2,040 | — | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 2,951 | 3,705 | — | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 369 | 673 | — | |||||||||||||||||||||||||||||
Mortgage, multi-family | 5,525 | 5,632 | — | |||||||||||||||||||||||||||||
Mortgage, commercial | 3,290 | 4,588 | — | |||||||||||||||||||||||||||||
Loans to individuals | — | 20 | — | |||||||||||||||||||||||||||||
$ | 18,102 | $ | 22,358 | $ | — | |||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||
Agricultural | $ | 210 | $ | 247 | $ | 44 | ||||||||||||||||||||||||||
Commercial and financial | 633 | 633 | 9 | |||||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 343 | 354 | 28 | |||||||||||||||||||||||||||||
Construction, land development and commercial | — | — | — | |||||||||||||||||||||||||||||
Mortgage, farmland | 278 | 278 | 12 | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 506 | 596 | 52 | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | — | — | — | |||||||||||||||||||||||||||||
Mortgage, multi-family | — | — | — | |||||||||||||||||||||||||||||
Mortgage, commercial | 697 | 697 | 9 | |||||||||||||||||||||||||||||
Loans to individuals | — | — | — | |||||||||||||||||||||||||||||
$ | 2,667 | $ | 2,805 | $ | 154 | |||||||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||||||
Agricultural | $ | 1,844 | $ | 1,943 | $ | 44 | ||||||||||||||||||||||||||
Commercial and financial | 2,709 | 4,328 | 9 | |||||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 432 | 443 | 28 | |||||||||||||||||||||||||||||
Construction, land development and commercial | 128 | 220 | — | |||||||||||||||||||||||||||||
Mortgage, farmland | 2,318 | 2,318 | 12 | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 3,457 | 4,301 | 52 | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 369 | 673 | — | |||||||||||||||||||||||||||||
Mortgage, multi-family | 5,525 | 5,632 | — | |||||||||||||||||||||||||||||
Mortgage, commercial | 3,987 | 5,285 | 9 | |||||||||||||||||||||||||||||
Loans to individuals | — | 20 | — | |||||||||||||||||||||||||||||
$ | 20,769 | $ | 25,163 | $ | 154 | |||||||||||||||||||||||||||
Impaired loans decreased $0.12 million from December 31, 2014 to March 31, 2015. Impaired loans include any loan that has been placed on nonaccrual status, accruing loans past due 90 days or more and TDR loans. Impaired loans also include loans that, based on management’s evaluation of current information and events, the Company expects to be unable to collect in full according to the contractual terms of the original loan agreement. Impaired loans were 1.04% of loans held for investment as of March 31, 2015 and 1.05% as of December 31, 2014. The decrease in impaired loans is due mainly to a decrease in accruing loans past due 90 days or more of $0.35 million from December 31, 2014 to March 31, 2015. | ||||||||||||||||||||||||||||||||
The Company regularly reviews a substantial portion of the loans in the portfolio and assesses whether the loans are impaired in accordance with ASC 310. If the loans are impaired, the Company determines if a specific allowance is appropriate. In addition, the Company's management also reviews and, where determined necessary, provides allowances for particular loans based upon (1) reviews of specific borrowers and (2) management’s assessment of areas that management considers are of higher credit risk, including loans that have been restructured. Loans that are determined not to be impaired and for which there are no specific allowances are classified into one or more risk categories. Based upon the risk category assigned, the Company allocates a percentage, as determined by management, for a required allowance needed. The determination of the appropriate percentage begins with historical loss experience factors, which are then adjusted for levels and trends in past due loans, levels and trends in charged-off and recovered loans, trends in volume growth, trends in problem and watch loans, trends in restructured loans, local economic trends and conditions, industry and other conditions, and effects of changing interest rates. | ||||||||||||||||||||||||||||||||
Specific allowances for losses on impaired loans are established if the loan balances exceed the net present value of the relevant future cash flows or the fair value of the relevant collateral based on updated appraisals and/or updated collateral analysis for the properties if the loan is collateral dependent. The Company recognizes a charge off related to an impaired loan if there is a collateral shortfall or it is unlikely the borrower can make all principal and interest payments as contractually due. | ||||||||||||||||||||||||||||||||
For loans that are collateral dependent, losses are evaluated based on the portion of a loan that exceeds the fair market value of the collateral. In general, this is the amount that the carrying value of the loan exceeds the related appraised value less estimated costs to sell the collateral. Generally, it is the Company’s policy not to rely on appraisals that are older than one year prior to the date the impairment is being measured. The most recent appraisal values may be adjusted if, in the Company’s judgment, experience and other market data indicate that the property’s value, use, condition, exit market or other variable affecting its value may have changed since the appraisal was performed, consistent with the December 2006 joint interagency guidance on the allowance for loan losses. The charge off or loss adjustment supported by an appraisal is considered the minimum charge off. Any adjustments made to the appraised value are to provide an additional charge off or specific reserve based on the applicable facts and circumstances. In instances where there is an estimated decline in value, a specific reserve may be provided or a charge off taken pending confirmation of the amount of the loss from an updated appraisal. Upon receipt of the new appraisals, an additional specific reserve may be provided or charge off taken based on the appraised value of the collateral. On average, appraisals are obtained within one month of order. |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Fair Value Measurements | Fair Value Measurements | |||||||||||||||||||
The carrying value and estimated fair values of the Company's financial instruments as of March 31, 2015 are as follows: | ||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||
Carrying | Estimated Fair | Readily | Observable | Company | ||||||||||||||||
Amount | Value | Available | Market | Determined | ||||||||||||||||
Market | Prices(2) | Market | ||||||||||||||||||
Prices(1) | Prices(3) | |||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||
Financial instrument assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 83,345 | $ | 83,345 | $ | 83,345 | $ | — | $ | — | ||||||||||
Investment securities | 268,324 | 268,324 | — | 268,324 | — | |||||||||||||||
Loans held for sale | 8,311 | 8,311 | — | 8,311 | — | |||||||||||||||
Loans | ||||||||||||||||||||
Agricultural | 86,030 | 86,067 | — | — | 86,067 | |||||||||||||||
Commercial and financial | 176,034 | 176,493 | — | — | 176,493 | |||||||||||||||
Real estate: | ||||||||||||||||||||
Construction, 1 to 4 family residential | 49,679 | 49,317 | — | — | 49,317 | |||||||||||||||
Construction, land development and commercial | 74,615 | 73,978 | — | — | 73,978 | |||||||||||||||
Mortgage, farmland | 166,281 | 167,086 | — | — | 167,086 | |||||||||||||||
Mortgage, 1 to 4 family first liens | 671,734 | 674,531 | — | — | 674,531 | |||||||||||||||
Mortgage, 1 to 4 family junior liens | 109,592 | 115,978 | — | — | 115,978 | |||||||||||||||
Mortgage, multi-family | 241,971 | 244,840 | — | — | 244,840 | |||||||||||||||
Mortgage, commercial | 318,561 | 318,022 | — | — | 318,022 | |||||||||||||||
Loans to individuals | 20,594 | 20,560 | — | — | 20,560 | |||||||||||||||
Obligations of state and political subdivisions | 54,719 | 54,394 | — | — | 54,394 | |||||||||||||||
Accrued interest receivable | 9,102 | 9,102 | — | 9,102 | — | |||||||||||||||
Total financial instrument assets | $ | 2,338,892 | $ | 2,350,348 | $ | 83,345 | $ | 285,737 | $ | 1,981,266 | ||||||||||
Financial instrument liabilities | ||||||||||||||||||||
Deposits | ||||||||||||||||||||
Noninterest-bearing deposits | $ | 280,432 | $ | 280,432 | $ | — | $ | 280,432 | $ | — | ||||||||||
Interest-bearing deposits | 1,626,903 | 1,629,897 | — | 1,629,897 | — | |||||||||||||||
Other borrowings | 40,928 | 40,928 | — | 40,928 | — | |||||||||||||||
Federal Home Loan Bank borrowings | 140,000 | 144,697 | — | 144,697 | — | |||||||||||||||
Interest rate swaps | 3,888 | 3,888 | — | 3,888 | — | |||||||||||||||
Accrued interest payable | 859 | 859 | — | 859 | — | |||||||||||||||
Total financial instrument liabilities | $ | 2,093,010 | $ | 2,100,701 | $ | — | $ | 2,100,701 | $ | — | ||||||||||
Face Amount | ||||||||||||||||||||
Financial instrument with off-balance sheet risk: | ||||||||||||||||||||
Loan commitments | $ | 386,613 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Letters of credit | 9,582 | — | — | — | — | |||||||||||||||
Total financial instrument liabilities with off-balance-sheet risk | $ | 396,195 | $ | — | $ | — | $ | — | $ | — | ||||||||||
-1 | Considered Level 1 under Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures (“ASC 820”). | |||||||||||||||||||
-2 | Considered Level 2 under ASC 820. | |||||||||||||||||||
-3 | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. | |||||||||||||||||||
The carrying value and estimated fair values of the Company's financial instruments as of December 31, 2014 are as follows: | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Carrying | Estimated Fair | Readily | Observable | Company | ||||||||||||||||
Amount | Value | Available | Market | Determined | ||||||||||||||||
Market | Prices(2) | Market | ||||||||||||||||||
Prices(1) | Prices(3) | |||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||
Financial instrument assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 29,174 | $ | 29,174 | $ | 29,174 | $ | — | $ | — | ||||||||||
Investment securities | 267,240 | 267,240 | — | 267,240 | — | |||||||||||||||
Loans held for sale | 4,476 | 4,476 | — | 4,476 | — | |||||||||||||||
Loans | ||||||||||||||||||||
Agricultural | 95,130 | 95,126 | — | — | 95,126 | |||||||||||||||
Commercial and financial | 170,507 | 171,081 | — | — | 171,081 | |||||||||||||||
Real estate: | ||||||||||||||||||||
Construction, 1 to 4 family residential | 45,139 | 45,159 | — | — | 45,159 | |||||||||||||||
Construction, land development and commercial | 75,589 | 75,623 | — | — | 75,623 | |||||||||||||||
Mortgage, farmland | 159,831 | 159,623 | — | — | 159,623 | |||||||||||||||
Mortgage, 1 to 4 family first liens | 666,406 | 665,428 | — | — | 665,428 | |||||||||||||||
Mortgage, 1 to 4 family junior liens | 109,133 | 115,726 | — | — | 115,726 | |||||||||||||||
Mortgage, multi-family | 243,723 | 246,191 | — | — | 246,191 | |||||||||||||||
Mortgage, commercial | 318,896 | 318,211 | — | — | 318,211 | |||||||||||||||
Loans to individuals | 21,043 | 21,016 | — | — | 21,016 | |||||||||||||||
Obligations of state and political subdivisions | 55,281 | 54,800 | — | — | 54,800 | |||||||||||||||
Accrued interest receivable | 8,276 | 8,276 | — | 8,276 | — | |||||||||||||||
Total financial instrument assets | $ | 2,269,844 | $ | 2,277,150 | $ | 29,174 | $ | 279,992 | $ | 1,967,984 | ||||||||||
Financial instrument liabilities: | ||||||||||||||||||||
Deposits | ||||||||||||||||||||
Noninterest-bearing deposits | $ | 288,718 | $ | 288,718 | $ | — | $ | 288,718 | $ | — | ||||||||||
Interest-bearing deposits | 1,546,351 | 1,550,974 | — | 1,550,974 | — | |||||||||||||||
Other borrowings | 47,499 | 47,499 | — | 47,499 | — | |||||||||||||||
Federal Home Loan Bank borrowings | 140,000 | 145,210 | — | 145,210 | — | |||||||||||||||
Interest rate swaps | 2,796 | 2,796 | — | 2,796 | — | |||||||||||||||
Accrued interest payable | 902 | 902 | — | 902 | — | |||||||||||||||
Total financial instrument liabilities | $ | 2,026,266 | $ | 2,036,099 | $ | — | $ | 2,036,099 | $ | — | ||||||||||
Face Amount | ||||||||||||||||||||
Financial instrument with off-balance sheet risk: | ||||||||||||||||||||
Loan commitments | $ | 334,100 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Letters of credit | 12,437 | — | — | — | — | |||||||||||||||
Total financial instrument liabilities with off-balance-sheet risk | $ | 346,537 | $ | — | $ | — | $ | — | $ | — | ||||||||||
-1 | Considered Level 1 under ASC 820. | |||||||||||||||||||
-2 | Considered Level 2 under ASC 820. | |||||||||||||||||||
-3 | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. | |||||||||||||||||||
Fair value of financial instruments: FASB ASC 820, Fair Value Measurements and Disclosures (“ASC 820”) provides a single definition for fair value, a framework for measuring fair value and expanded disclosures concerning fair value. Fair value is defined under ASC 820 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. | ||||||||||||||||||||
The Company determines the fair market value of its financial instruments based on the fair value hierarchy established in ASC 820. There are three levels of inputs that may be used to measure fair value as follows: | ||||||||||||||||||||
Level 1 | Quoted prices in active markets for identical assets or liabilities. | |||||||||||||||||||
Level 2 | Observable inputs other than quoted prices included within Level 1. Observable inputs include the quoted prices for similar assets or liabilities in markets that are not active and inputs other than quoted prices that are observable for the asset or liability. | |||||||||||||||||||
Level 3 | Unobservable inputs supported by little or no market activity for financial instruments. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. | |||||||||||||||||||
It is the Company’s policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. The Company is required to use observable inputs, to the extent available, in the fair value estimation process unless that data results from forced liquidations or distressed sales. | ||||||||||||||||||||
The following is a description of valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for assets or liabilities not recorded at fair value. | ||||||||||||||||||||
ASSETS | ||||||||||||||||||||
Cash and cash equivalents: The carrying amounts reported in the consolidated balance sheets for cash and short-term instruments approximate their fair values (Level 1). | ||||||||||||||||||||
Investment securities available for sale: Investment securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If a quoted price is not available, the fair value is obtained from benchmarking the security against similar securities. All of the Company’s securities are considered Level 2. | ||||||||||||||||||||
The pricing for investment securities is obtained from an independent source. There are no level 1 or level 3 investment securities owned by the Company. The Company obtains an understanding of the independent source’s valuation methodologies used to determine fair value by level of security. The Company validates assigned fair values on a sample basis using an additional third-party provider pricing service to determine if the fair value measurement is reasonable. Due to the nature of our investment portfolio, we do not expect significant and unusual fluctuations as fair value changes primarily relate to interest rate changes. No unusual fluctuations were identified during the three months ended March 31, 2015. If a fluctuation requiring investigation was identified, the Company would research the change with the independent source or other available information. | ||||||||||||||||||||
Loans held for sale: Loans held for sale are carried at historical cost. The carrying amount is a reasonable estimate of fair value because of the short time between origination of the loan and its sale on the secondary market (Level 2). The market is active for these loans and as a result prices for similar assets are available. | ||||||||||||||||||||
Loans: The Company does not record loans at fair value on a recurring basis. For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values (Level 3). The fair values for other loans are determined using estimated future cash flows, discounted at the interest rates currently being offered for loans with similar terms to borrowers with similar credit quality utilizing an entrance price concept (Level 3). The Company does record nonrecurring fair value adjustments to loans to reflect (1) partial write-downs that are based on the observable market price or appraised value of the collateral or (2 )the full charge-off of the loan carrying value (Level 3). These loans are considered Level 3 as the instruments used to determine fair market value require significant management judgment and estimation. | ||||||||||||||||||||
Foreclosed assets: The Company does not record foreclosed assets at fair value on a recurring basis. Foreclosed assets consist mainly of other real estate owned but may include other types of assets repossessed by the Company. Foreclosed assets are adjusted to the lower of carrying value or fair value less the cost of disposal. Fair value is generally based upon independent market prices or appraised values of the collateral, and may include a marketability discount as deemed necessary by management based on its experience with similar types of real estate. The value of foreclosed assets is evaluated periodically as a nonrecurring fair value adjustment. Foreclosed assets are classified as Level 3. | ||||||||||||||||||||
Off-balance sheet instruments: Fair values for outstanding letters of credit are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties' credit standing. The fair value of the outstanding letters of credit is not significant. Unfunded loan commitments are not valued since the loans are generally priced at market at the time of funding (Level 2). | ||||||||||||||||||||
Accrued interest receivable: The fair value of accrued interest receivable equals the amount receivable due to the current nature of the amounts receivable (Level 2). | ||||||||||||||||||||
Non-marketable equity investments: Non-marketable equity investments are recorded under the cost or equity method of accounting. There are generally restrictions on the sale and/or liquidation of these investments, including stock of the Federal Home Loan Bank. The carrying value of stock of the Federal Home Loan Bank approximates fair value (Level 2). | ||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||
Deposit liabilities: Deposit liabilities are carried at historical cost. The fair value of demand deposits, savings accounts and certain money market account deposits is the amount payable on demand at the reporting date. The fair value of fixed maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities. If the fair value of the fixed maturity certificates of deposit is calculated at less than the carrying amount, the carrying value of these deposits is reported as the fair value (Level 2). Deposit liabilities are classified as Level 2 due to available prices for similar liabilities in the market. | ||||||||||||||||||||
Other borrowings: Other borrowings are carried at historical cost and include federal funds purchased and securities sold under agreements to repurchase. The carrying amount is a reasonable estimate of fair value because of the relatively short time between the origination of the liability and its expected realization (Level 2). Other borrowings are classified as Level 2 due to available prices for similar liabilities in the market. | ||||||||||||||||||||
Federal Home Loan Bank borrowings: Federal Home Loan Bank borrowings are recorded at historical cost. The fair values of the Company’s Federal Home Loan Bank borrowings are estimated using discounted cash flow analysis, based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements (Level 2). Federal Home Loan Bank borrowings are classified as Level 2 due to available prices for similar liabilities in the market. | ||||||||||||||||||||
Interest Rate Swap Agreements: The fair value is estimated using forward-looking interest rate curves and is calculated using discounted cash flows that are observable or that can be corroborated by observable market data (Level 2). | ||||||||||||||||||||
Accrued interest payable: The fair value of accrued interest payable equals the amount payable due to the current nature of the amounts payable (Level 2). | ||||||||||||||||||||
Assets and Liabilities Recorded at Fair Value on a Recurring Basis | ||||||||||||||||||||
The table below represents the balances of assets and liabilities measured at fair value on a recurring basis: | ||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||
Readily | Observable | Company | Total at Fair | |||||||||||||||||
Available | Market Prices(2) | Determined | Value | |||||||||||||||||
Market | Market | |||||||||||||||||||
Prices(1) | Prices(3) | |||||||||||||||||||
Securities available for sale | (Amounts In Thousands) | |||||||||||||||||||
U.S. Treasury | $ | — | $ | 22,569 | $ | — | $ | 22,569 | ||||||||||||
State and political subdivisions | — | 171,358 | — | 171,358 | ||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | — | 65,951 | — | 65,951 | ||||||||||||||||
Derivative Financial Instruments | ||||||||||||||||||||
Interest rate swaps | $ | — | (3,888 | ) | $ | — | (3,888 | ) | ||||||||||||
Total | $ | — | $ | 255,990 | $ | — | $ | 255,990 | ||||||||||||
December 31, 2014 | ||||||||||||||||||||
Readily | Observable | Company | Total at Fair | |||||||||||||||||
Available | Market Prices(2) | Determined | Value | |||||||||||||||||
Market | Market | |||||||||||||||||||
Prices(1) | Prices(3) | |||||||||||||||||||
Securities available for sale | (Amounts In Thousands) | |||||||||||||||||||
U.S. Treasury | $ | — | $ | 22,333 | $ | — | $ | 22,333 | ||||||||||||
State and political subdivisions | — | 168,968 | — | 168,968 | ||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | — | 67,691 | — | 67,691 | ||||||||||||||||
Derivative Financial Instruments | ||||||||||||||||||||
Interest rate swaps | — | (2,796 | ) | — | (2,796 | ) | ||||||||||||||
Total | $ | — | $ | 256,196 | $ | — | $ | 256,196 | ||||||||||||
-1 | Considered Level 1 under ASC 820. | |||||||||||||||||||
-2 | Considered Level 2 under ASC 820. | |||||||||||||||||||
-3 | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. | |||||||||||||||||||
There were no transfers between Levels 1, 2 or 3 during the three months ended March 31, 2015 and the year ended December 31, 2014. | ||||||||||||||||||||
Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis | ||||||||||||||||||||
The Company is required to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. The valuation methodologies used to measure these fair value adjustments are described above. The following tables present the Company’s assets that are measured at fair value on a nonrecurring basis. | ||||||||||||||||||||
March 31, 2015 | Three Months Ended March 31, 2015 | |||||||||||||||||||
Readily | Observable | Company | Total at | Total Losses | ||||||||||||||||
Available | Market | Determined | Fair | |||||||||||||||||
Market | Prices(2) | Market | Value | |||||||||||||||||
Prices(1) | Prices(3) | |||||||||||||||||||
(Amounts in Thousands) | ||||||||||||||||||||
Loans (4) | ||||||||||||||||||||
Agricultural | $ | — | $ | — | $ | 1,733 | $ | 1,733 | $ | — | ||||||||||
Commercial and financial | — | — | 1,402 | 1,402 | — | |||||||||||||||
Real Estate: | ||||||||||||||||||||
Construction, 1 to 4 family residential | — | — | 639 | 639 | 61 | |||||||||||||||
Construction, land development and commercial | — | — | — | — | — | |||||||||||||||
Mortgage, farmland | — | — | 2,438 | 2,438 | — | |||||||||||||||
Mortgage, 1 to 4 family first liens | — | — | 2,781 | 2,781 | 254 | |||||||||||||||
Mortgage, 1 to 4 family junior liens | — | — | 150 | 150 | — | |||||||||||||||
Mortgage, multi-family | — | — | 5,584 | 5,584 | 38 | |||||||||||||||
Mortgage, commercial | — | — | 2,091 | 2,091 | 140 | |||||||||||||||
Loans to individuals | — | — | — | — | — | |||||||||||||||
Foreclosed assets (5) | — | — | 698 | 698 | 30 | |||||||||||||||
Total | $ | — | $ | — | $ | 17,516 | $ | 17,516 | $ | 523 | ||||||||||
-1 | Considered Level 1 under ASC 820. | |||||||||||||||||||
-2 | Considered Level 2 under ASC 820. | |||||||||||||||||||
-3 | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. | |||||||||||||||||||
-4 | Represents carrying value and related write-downs of loans for which adjustments are based on the value of the collateral. The carrying value of loans fully-charged off is zero. | |||||||||||||||||||
-5 | Represents the fair value and related losses of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets. | |||||||||||||||||||
Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis (continued) | ||||||||||||||||||||
December 31, 2014 | Year Ended December 31, 2014 | |||||||||||||||||||
Readily | Observable | Company | Total at Fair | Total Losses | ||||||||||||||||
Available | Market | Determined | Value | |||||||||||||||||
Market | Prices(2) | Market | ||||||||||||||||||
Prices(1) | Prices(3) | |||||||||||||||||||
(Amounts in Thousands) | ||||||||||||||||||||
Loans (4) | ||||||||||||||||||||
Agricultural | $ | — | $ | — | $ | 1,679 | $ | 1,679 | $ | 25 | ||||||||||
Commercial and financial | — | — | 1,709 | 1,709 | 206 | |||||||||||||||
Real Estate: | ||||||||||||||||||||
Construction, 1 to 4 family residential | — | — | 315 | 315 | — | |||||||||||||||
Construction, land development and commercial | — | — | — | — | — | |||||||||||||||
Mortgage, farmland | — | — | 2,040 | 2,040 | — | |||||||||||||||
Mortgage, 1 to 4 family first liens | — | — | 2,500 | 2,500 | 576 | |||||||||||||||
Mortgage, 1 to 4 family junior liens | — | — | 369 | 369 | 24 | |||||||||||||||
Mortgage, multi-family | — | — | 5,525 | 5,525 | — | |||||||||||||||
Mortgage, commercial | — | — | 1,918 | 1,918 | 328 | |||||||||||||||
Loans to individuals | — | — | — | — | — | |||||||||||||||
Foreclosed assets (5) | — | — | 301 | 301 | 210 | |||||||||||||||
Total | $ | — | $ | — | $ | 16,356 | $ | 16,356 | $ | 1,369 | ||||||||||
-1 | Considered Level 1 under ASC 820. | |||||||||||||||||||
-2 | Considered Level 2 under ASC 820. | |||||||||||||||||||
-3 | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. | |||||||||||||||||||
-4 | Represents carrying value and related write-downs of loans for which adjustments are based on the value of the collateral. The carrying value of loans fully-charged off is zero. | |||||||||||||||||||
-5 | Represents the fair value and related losses of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets. |
Stock_Repurchase_Program
Stock Repurchase Program | 3 Months Ended |
Mar. 31, 2015 | |
Equity [Abstract] | |
Stock Repurchase Program | Stock Repurchase Program |
On July 26, 2005, the Company’s Board of Directors authorized a program to repurchase up to a total of 750,000 shares of the Company’s common stock (the “2005 Stock Repurchase Program”). The Company’s Board of Directors has authorized the 2005 Stock Repurchase Program through December 31, 2016. The Company expects the purchases pursuant to the 2005 Stock Repurchase Program to be made from time to time in private transactions at a price equal to the most recent quarterly independent appraisal of the shares of the Company’s common stock and with the Board reviewing the overall results of the 2005 Stock Repurchase Program on a quarterly basis. All purchases made pursuant to the 2005 Stock Repurchase Program since its inception have been made on that basis. The amount and timing of stock repurchases will be based on various factors, such as the Board’s assessment of the Company’s capital structure and liquidity, the amount of interest shown by shareholders in selling shares of stock to the Company at their appraised value, and applicable regulatory, legal and accounting factors. The Company has purchased 401,075 shares of its common stock in privately negotiated transactions from August 1, 2005 through March 31, 2015. Of these 401,075 shares, 2,364 shares were purchased during the quarter ended March 31, 2015, at an average price per share of $82.83. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Commitments and Contingencies | Commitments and Contingencies | |||||||
Concentrations of credit risk: The Bank’s loans, commitments to extend credit, unused lines of credit and outstanding letters of credit have been granted to customers within the Bank's market area. Investments in securities issued by state and political subdivisions within the state of Iowa totaled approximately $90.98 million. The concentrations of credit by type of loan are set forth in Note 5 to the Consolidated Financial Statements. Outstanding letters of credit were granted primarily to commercial borrowers. Although the Bank has a diversified loan portfolio, a substantial portion of its debtors' ability to honor their contracts is dependent upon the economic conditions in Johnson, Linn and Washington Counties, Iowa. | ||||||||
Contingencies: In the normal course of business, the Company and Bank are involved in various legal proceedings. While the ultimate outcome of such legal proceedings cannot be predicted with certainty, after reviewing pending and threatened litigation with counsel, management believes at this time that the outcome of such litigation will not have a material adverse effect on the Company's business, financial condition or results of operations. | ||||||||
Financial instruments with off-balance sheet risk: The Bank 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. These financial instruments include commitments to extend credit, credit card participations and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. | ||||||||
The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit, credit card participations and standby letters of credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. A summary of the Bank’s commitments at March 31, 2015 and December 31, 2014 is as follows: | ||||||||
March 31, 2015 | December 31, 2014 | |||||||
(Amounts In Thousands) | ||||||||
Firm loan commitments and unused portion of lines of credit: | ||||||||
Home equity loans | $ | 41,478 | $ | 40,484 | ||||
Credit cards | 47,873 | 46,573 | ||||||
Commercial, real estate and home construction | 114,570 | 81,613 | ||||||
Commercial lines and real estate purchase loans | 182,692 | 165,430 | ||||||
Outstanding letters of credit | 9,582 | 12,437 | ||||||
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes |
Federal income tax expense for the three months ended March 31, 2015 and 2014 was computed using the consolidated effective federal tax rate. The Company also recognized income tax expense pertaining to state franchise taxes payable individually by the subsidiary bank. The Company files a consolidated tax return for federal purposes and separate tax returns for State of Iowa purposes. The tax years ended December 31, 2014, 2013, and 2012 remain subject to examination by the Internal Revenue Service. For state tax purposes, the tax years ended December 31, 2014, 2013, and 2012 remain open for examination. There were no material unrecognized tax benefits at March 31, 2015 and December 31, 2014 and therefore no interest or penalties on unrecognized tax benefits has been recorded. As of March 31, 2015, the Company does not anticipate any significant increase in unrecognized tax benefits during the twelve-month period ending March 31, 2016. | |
Income taxes as a percentage of income before taxes were 29.26% for the three months ended March 31, 2015 and 26.16% for the same period in 2014. The increase in the effective tax rate is due to a decrease in the amount of low-income housing tax credits earned by the Company in 2015. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||
Derivative Financial Instruments | Derivative Financial Instruments | |||||||||||||||
In the normal course of business, the Bank may use derivative financial instruments to manage its interest rate risk. These instruments carry varying degrees of credit, interest rate and market or liquidity risks. Derivative instruments are recognized as either assets or liabilities in the accompanying financial statement and are measured at fair value. The Bank’s objectives are to add stability to its net interest margin and to manage its exposure to movements in interest rates. The contract or notional amount of a derivative is used to determine, along with the other terms of the derivative, the amount to be exchanged between the counterparties. The Bank is exposed to credit risk in the event of nonperformance by counterparties to financial instruments. The Bank minimizes this risk by entering into derivative contracts with large, stable financial institutions. The Bank has not experienced any losses from nonperformance by counterparties. The Bank monitors counterparty risk in accordance with the provisions of ASC 815. In addition, the Bank’s interest rate-related derivative instruments contain language outlining collateral pledging requirements for each counterparty. Collateral must be posted when the market value exceeds certain threshold limits which are determined by credit ratings of each counterparty. The Bank was required to pledge $1.50 million of collateral as of March 31, 2015. | ||||||||||||||||
Cash Flow Hedges: | ||||||||||||||||
The Bank executed two forward-starting interest rate swap transactions on November 7, 2013. One of the interest rate swap transactions has an effective date of November 9, 2015, and an expiration date of November 9, 2020, to effectively convert $25.00 million of variable rate debt to fixed rate debt. The other interest rate swap transaction has an effective date of November 7, 2016 and an expiration date of November 7, 2023, also to effectively convert $25.00 million of variable rate debt to fixed rate debt. For accounting purposes, these swap transactions are designated as a cash flow hedge of the changes in cash flows attributable to changes in three-month LIBOR, the benchmark interest rate being hedged, associated with the interest payments made on an amount of the Bank’s debt principal equal to the then-outstanding swap notional amount. At inception, the Bank asserted that the underlying principal balance would remain outstanding throughout the hedge transaction making it probable that sufficient LIBOR-based interest payments would exist through the maturity date of the swaps. | ||||||||||||||||
The table below identifies the balance sheet category and fair values of the Bank’s derivative instruments designated as cash flow hedges as of March 31, 2015 and December 31, 2014: | ||||||||||||||||
Notional | Fair | Balance | Maturity | |||||||||||||
Amount | Value | Sheet | ||||||||||||||
Category | ||||||||||||||||
(Amounts in Thousands) | ||||||||||||||||
March 31, 2015 | ||||||||||||||||
Interest rate swap | $ | 25,000 | $ | (1,340 | ) | Other Liabilities | 11/9/20 | |||||||||
Interest rate swap | 25,000 | (2,548 | ) | Other Liabilities | 11/7/23 | |||||||||||
December 31, 2014 | ||||||||||||||||
Interest rate swap | $ | 25,000 | $ | (864 | ) | Other Liabilities | 11/9/20 | |||||||||
Interest rate swap | 25,000 | (1,932 | ) | Other Liabilities | 11/7/23 | |||||||||||
The table below identifies the gains and losses recognized on the Bank’s derivative instruments designated as cash flow hedges as of March 31, 2015 and December 31, 2014: | ||||||||||||||||
Effective Portion | Ineffective Portion | |||||||||||||||
Recognized | Reclassifed from AOCI into | Recognized in Income on | ||||||||||||||
in OCI | Income | Derivatives | ||||||||||||||
Amount of | Category | Amount | Category | Amount | ||||||||||||
Gain (Loss) | of Gain | of Gain | ||||||||||||||
(Loss) | (Loss) | |||||||||||||||
(Amounts in Thousands) | ||||||||||||||||
March 31, 2015 | ||||||||||||||||
Interest rate swap | $ | (294 | ) | Interest Expense | $ | — | Other Income | $ | — | |||||||
Interest rate swap | (380 | ) | Interest Expense | — | Other Income | — | ||||||||||
December 31, 2014 | ||||||||||||||||
Interest rate swap | $ | (754 | ) | Interest Expense | $ | — | Other Income | $ | — | |||||||
Interest rate swap | (1,448 | ) | Interest Expense | — | Other Income | — | ||||||||||
Subsequent_Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events |
On March 24, 2015, the Board of Directors of Hills Bancorporation approved an amendment (the "Amendment") to the Company's Restated Articles of Incorporation (the "Articles") to increase the number of shares of stock that the Company is authorized to issue from 10,000,000 shares of common stock, no par value, to 20,000,000 shares of common stock, no par value. The Amendment was adopted by the Board in order to effect a two-for-one split of each issued and unissued share of the Company's common stock (the "Stock Split"). The Board of Directors determined that one additional share of common stock will be issued to shareholders of record as of the close of business on April 27, 2015 (the "Record Date") for each share held thereby on the Record date, which shares shall be paid on May 4, 2015. Articles of Amendment to the Restated Articles of Incorporation were filed with the Iowa Secretary of State to effect the Amendment on April 8, 2015. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial reporting and with instructions for Form 10-Q and Regulation S-X. These financial statements include all adjustments (consisting of normal recurring accruals) which in the opinion of management are considered necessary for the fair presentation of the financial position and results of operations for the periods shown. Certain prior year amounts have been reclassified to conform to the current year presentation. The Company considers that it operates as one business segment, a commercial bank. |
Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2014. For further information, refer to the consolidated financial statements and footnotes thereto included in the Form 10-K Annual Report of Hills Bancorporation and subsidiary (the “Company”) for the year ended December 31, 2014 filed with the Securities Exchange Commission on March 11, 2015. The consolidated balance sheet as of December 31, 2014, has been derived from the audited consolidated financial statements for that period. | |
The Company evaluated subsequent events through the filing date of its quarterly report on Form 10-Q with the SEC. | |
Effect of New Financial Accounting Standards | In May 2014, The FASB and International Accounting Standards Board (IASB) issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The core principle of ASU 2014-09 is that a company should recognize revenue to depict the transfer of promised good or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. For financial institutions, significant changes are not expected given that most financial instruments are not in the scope of the accounting standard update. ASU 2014-09 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2016. Early adoption is not permitted. The Company is currently reviewing the provisions of this standard to determine the application to financial institutions. The adoption of ASU 2014-09 by the Company is not expected to have a material impact. |
In April 2015, the FASB issued ASU No. 2015-05, Intangibles – Goodwill and Other Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement. ASU 2015-05 provides guidance to customers about whether a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. ASU 2015-05 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. The adoption of ASU 2015-05 by the Company is not expected to have a material impact. | |
Earnings Per Share | Basic earnings per share is computed using the weighted average number of actual common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that would occur from the exercise of common stock options outstanding. ESOP shares are considered outstanding for this calculation unless unearned. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Earnings Per Share [Abstract] | ||||||||
Schedule of computation of basic and diluted earnings per share | The computation of basic and diluted earnings per share for the periods presented is as follows: | |||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Common shares outstanding at the beginning of the period | 4,690,216 | 4,711,995 | ||||||
Weighted average number of net shares redeemed | (8,568 | ) | (1,502 | ) | ||||
Weighted average shares outstanding (basic) | 4,681,648 | 4,710,493 | ||||||
Weighted average of potential dilutive shares attributable to stock options granted, computed under the treasury stock method | 2,490 | 2,591 | ||||||
Weighted average number of shares (diluted) | 4,684,138 | 4,713,084 | ||||||
Net income (In thousands) | $ | 7,380 | $ | 6,744 | ||||
Earnings per share: | ||||||||
Basic | $ | 1.58 | $ | 1.43 | ||||
Diluted | $ | 1.58 | $ | 1.43 | ||||
Other_Comprehensive_Income_Tab
Other Comprehensive Income (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Equity [Abstract] | ||||||||
Components of accumulated other comprehensive income (AOCI) | The following table summarizes the balances of each component of accumulated other comprehensive income (AOCI), included in stockholders’ equity, at March 31, 2015 and December 31, 2014: | |||||||
March 31, 2015 | December 31, 2014 | |||||||
(amounts in thousands) | ||||||||
Net unrealized gain on available-for-sale securities | $ | 3,205 | $ | 2,072 | ||||
Net unrealized loss on derivatives used for cash flow hedges | (3,888 | ) | (2,796 | ) | ||||
Tax effect | 261 | 276 | ||||||
Net-of-tax amount | $ | (422 | ) | $ | (448 | ) |
Securities_Tables
Securities (Tables) | 3 Months Ended | |||||||||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||
Carrying values of investment securities | The carrying values of investment securities at March 31, 2015 and December 31, 2014 are summarized in the following table (dollars in thousands): | |||||||||||||||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||
Amount | Percent | Amount | Percent | |||||||||||||||||||||||||||||||||||||||
Securities available for sale | ||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 22,569 | 8.68 | % | $ | 22,333 | 8.62 | % | ||||||||||||||||||||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | 65,951 | 25.38 | 67,691 | 26.14 | ||||||||||||||||||||||||||||||||||||||
State and political subdivisions | 171,358 | 65.94 | 168,968 | 65.24 | ||||||||||||||||||||||||||||||||||||||
Total securities available for sale | $ | 259,878 | 100 | % | $ | 258,992 | 100 | % | ||||||||||||||||||||||||||||||||||
Carrying amount of available-for-sale securities and approximate fair values | The carrying amount of available-for-sale securities and their approximate fair values were as follows as of March 31, 2015 and December 31, 2014 (in thousands): | |||||||||||||||||||||||||||||||||||||||||
Amortized Cost | Gross | Gross | Estimated Fair | |||||||||||||||||||||||||||||||||||||||
Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||||||||
Gains | (Losses) | |||||||||||||||||||||||||||||||||||||||||
March 31, 2015: | ||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 22,362 | $ | 207 | $ | — | $ | 22,569 | ||||||||||||||||||||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | 65,693 | 294 | (36 | ) | 65,951 | |||||||||||||||||||||||||||||||||||||
State and political subdivisions | 168,618 | 2,921 | (181 | ) | 171,358 | |||||||||||||||||||||||||||||||||||||
Total | $ | 256,673 | $ | 3,422 | $ | (217 | ) | $ | 259,878 | |||||||||||||||||||||||||||||||||
December 31, 2014: | ||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury | $ | 22,351 | $ | 18 | $ | (36 | ) | $ | 22,333 | |||||||||||||||||||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | 67,644 | 147 | (100 | ) | 67,691 | |||||||||||||||||||||||||||||||||||||
State and political subdivisions | 166,925 | 2,499 | (456 | ) | 168,968 | |||||||||||||||||||||||||||||||||||||
Total | $ | 256,920 | $ | 2,664 | $ | (592 | ) | $ | 258,992 | |||||||||||||||||||||||||||||||||
Available-for-sale securities classified as per contractual maturities | The amortized cost and estimated fair value of available-for-sale securities classified according to their contractual maturities at March 31, 2015, were as follows (in thousands): | |||||||||||||||||||||||||||||||||||||||||
Amortized | Fair Value | |||||||||||||||||||||||||||||||||||||||||
Cost | ||||||||||||||||||||||||||||||||||||||||||
Due in one year or less | $ | 41,404 | $ | 41,510 | ||||||||||||||||||||||||||||||||||||||
Due after one year through five years | 143,583 | 145,765 | ||||||||||||||||||||||||||||||||||||||||
Due after five years through ten years | 70,361 | 71,278 | ||||||||||||||||||||||||||||||||||||||||
Due over ten years | 1,325 | 1,325 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 256,673 | $ | 259,878 | ||||||||||||||||||||||||||||||||||||||
Available-for-sale securities, continuous unrealized loss position, fair value | The following table shows the fair value, gross unrealized losses and the percentage of fair value represented by gross unrealized losses of applicable investment securities owned by the Company, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2015 and December 31, 2014 (in thousands): | |||||||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||||||||||||||||||||
31-Mar-15 | # | Fair Value | Unrealized | % | # | Fair Value | Unrealized | % | # | Fair Value | Unrealized | % | ||||||||||||||||||||||||||||||
Description of Securities | Loss | Loss | Loss | |||||||||||||||||||||||||||||||||||||||
U.S. Treasury | — | $ | — | $ | — | — | % | — | $ | — | $ | — | — | % | — | $ | — | $ | — | — | % | |||||||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | 5 | 13,423 | (36 | ) | 0.27 | % | — | — | — | — | % | 5 | 13,423 | (36 | ) | 0.27 | % | |||||||||||||||||||||||||
State and political subdivisions | 66 | 14,617 | (70 | ) | 0.48 | % | 28 | 6,070 | (111 | ) | 1.83 | % | 94 | 20,687 | (181 | ) | 0.87 | % | ||||||||||||||||||||||||
Total temporarily impaired securities | 71 | $ | 28,040 | $ | (106 | ) | 0.38 | % | 28 | $ | 6,070 | $ | (111 | ) | 1.83 | % | 99 | $ | 34,110 | $ | (217 | ) | 0.64 | % | ||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||||||||||||||||||||
31-Dec-14 | # | Fair Value | Unrealized | % | # | Fair Value | Unrealized | % | # | Fair Value | Unrealized | % | ||||||||||||||||||||||||||||||
Description of Securities | Loss | Loss | Loss | |||||||||||||||||||||||||||||||||||||||
U.S. Treasury | 5 | $ | 12,396 | $ | (36 | ) | 0.29 | % | — | $ | — | $ | — | — | % | 5 | $ | 12,396 | $ | (36 | ) | 0.29 | % | |||||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | 10 | 24,382 | (100 | ) | 0.41 | — | — | — | — | 10 | 24,382 | (100 | ) | 0.41 | ||||||||||||||||||||||||||||
State and political subdivisions | 91 | 21,724 | (124 | ) | 0.57 | 78 | 16,154 | (332 | ) | 2.06 | 169 | 37,878 | (456 | ) | 1.2 | |||||||||||||||||||||||||||
Total temporarily impaired securities | 106 | $ | 58,502 | $ | (260 | ) | 0.44 | % | 78 | $ | 16,154 | $ | (332 | ) | 2.06 | % | 184 | $ | 74,656 | $ | (592 | ) | 0.79 | % | ||||||||||||||||||
Loans_Tables
Loans (Tables) | 3 Months Ended | |||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||
Schedule of classes of loans | Classes of loans are as follows: | |||||||||||||||||||||||||||||||
March 31, | December 31, | |||||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||||||||||||||
Agricultural | $ | 88,574 | $ | 97,645 | ||||||||||||||||||||||||||||
Commercial and financial | 180,392 | 174,738 | ||||||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 50,541 | 45,949 | ||||||||||||||||||||||||||||||
Construction, land development and commercial | 76,003 | 77,020 | ||||||||||||||||||||||||||||||
Mortgage, farmland | 169,058 | 162,503 | ||||||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 678,054 | 672,674 | ||||||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 110,728 | 110,284 | ||||||||||||||||||||||||||||||
Mortgage, multi-family | 243,441 | 245,213 | ||||||||||||||||||||||||||||||
Mortgage, commercial | 321,216 | 321,601 | ||||||||||||||||||||||||||||||
Loans to individuals | 21,003 | 21,342 | ||||||||||||||||||||||||||||||
Obligations of state and political subdivisions | 55,160 | 55,729 | ||||||||||||||||||||||||||||||
$ | 1,994,170 | $ | 1,984,698 | |||||||||||||||||||||||||||||
Net unamortized fees and costs | 689 | 691 | ||||||||||||||||||||||||||||||
$ | 1,994,859 | $ | 1,985,389 | |||||||||||||||||||||||||||||
Less allowance for loan losses | 24,360 | 24,020 | ||||||||||||||||||||||||||||||
$ | 1,970,499 | $ | 1,961,369 | |||||||||||||||||||||||||||||
Schedule of changes in allowance for loan losses | Changes in the allowance for loan losses, the allowance for loan losses applicable to impaired loans and the related loan balance of impaired loans for the three months ended March 31, 2015 were as follows: | |||||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | ||||||||||||||||||||||||||||||||
Agricultural | Commercial and | Real Estate: | Real Estate: | Real Estate: | Real Estate: | Other | Total | |||||||||||||||||||||||||
Financial | Construction and | Mortgage, | Mortgage, 1 to 4 | Mortgage, multi- | ||||||||||||||||||||||||||||
land development | farmland | family | family and | |||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 2,515 | $ | 4,231 | $ | 2,241 | $ | 2,672 | $ | 7,419 | $ | 4,195 | $ | 747 | $ | 24,020 | ||||||||||||||||
Charge-offs | (43 | ) | (66 | ) | (84 | ) | — | (347 | ) | (179 | ) | (48 | ) | (767 | ) | |||||||||||||||||
Recoveries | 82 | 401 | 151 | 6 | 413 | 70 | 46 | 1,169 | ||||||||||||||||||||||||
Provision | (10 | ) | (208 | ) | (58 | ) | 99 | (29 | ) | 39 | 105 | (62 | ) | |||||||||||||||||||
Ending balance | $ | 2,544 | $ | 4,358 | $ | 2,250 | $ | 2,777 | $ | 7,456 | $ | 4,125 | $ | 850 | $ | 24,360 | ||||||||||||||||
Ending balance, individually evaluated for impairment | $ | 13 | $ | 7 | $ | 33 | $ | 26 | $ | 68 | $ | 8 | $ | — | $ | 155 | ||||||||||||||||
Ending balance, collectively evaluated for impairment | $ | 2,531 | $ | 4,351 | $ | 2,217 | $ | 2,751 | $ | 7,388 | $ | 4,117 | $ | 850 | $ | 24,205 | ||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance | $ | 88,574 | $ | 180,392 | $ | 126,544 | $ | 169,058 | $ | 788,782 | $ | 564,657 | $ | 76,163 | $ | 1,994,170 | ||||||||||||||||
Ending balance, individually evaluated for impairment | $ | 1,851 | $ | 2,284 | $ | 954 | $ | 2,464 | $ | 3,559 | $ | 9,536 | $ | — | $ | 20,648 | ||||||||||||||||
Ending balance, collectively evaluated for impairment | $ | 86,723 | $ | 178,108 | $ | 125,590 | $ | 166,594 | $ | 785,223 | $ | 555,121 | $ | 76,163 | $ | 1,973,522 | ||||||||||||||||
Changes in the allowance for loan losses for the three months ended March 31, 2014 were as follows: | ||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||||||
Agricultural | Commercial and | Real Estate: | Real Estate: | Real Estate: | Real Estate: | Other | Total | |||||||||||||||||||||||||
Financial | Construction and | Mortgage, | Mortgage, | Mortgage, multi- | ||||||||||||||||||||||||||||
land development | farmland | 1 to 4 family | family and | |||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||
Beginning balance | $ | 2,852 | $ | 4,733 | $ | 2,918 | $ | 2,557 | $ | 7,064 | $ | 4,787 | $ | 639 | $ | 25,550 | ||||||||||||||||
Charge-offs | (100 | ) | (84 | ) | (2 | ) | — | (307 | ) | — | (33 | ) | $ | (526 | ) | |||||||||||||||||
Recoveries | 3 | 350 | 186 | — | 179 | 41 | 32 | $ | 791 | |||||||||||||||||||||||
Provision | 1,307 | (480 | ) | (141 | ) | 225 | (315 | ) | (564 | ) | 13 | $ | 45 | |||||||||||||||||||
Ending balance | $ | 4,062 | $ | 4,519 | $ | 2,961 | $ | 2,782 | $ | 6,621 | $ | 4,264 | $ | 651 | $ | 25,860 | ||||||||||||||||
Ending balance, individually evaluated for impairment | $ | 3 | $ | 14 | $ | 14 | $ | — | $ | 58 | $ | 208 | $ | — | $ | 297 | ||||||||||||||||
Ending balance, collectively evaluated for impairment | $ | 4,059 | $ | 4,505 | $ | 2,947 | $ | 2,782 | $ | 6,563 | $ | 4,056 | $ | 651 | $ | 25,563 | ||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||
Ending balance | $ | 88,218 | $ | 162,855 | $ | 99,830 | $ | 145,620 | $ | 715,688 | $ | 564,919 | $ | 73,054 | $ | 1,850,184 | ||||||||||||||||
Ending balance, individually evaluated for impairment | $ | 274 | $ | 2,669 | $ | 1,285 | $ | 284 | $ | 4,011 | $ | 17,662 | $ | — | $ | 26,185 | ||||||||||||||||
Ending balance, collectively evaluated for impairment | $ | 87,944 | $ | 160,186 | $ | 98,545 | $ | 145,336 | $ | 711,677 | $ | 547,257 | $ | 73,054 | $ | 1,823,999 | ||||||||||||||||
Schedule of credit quality indicators by type of loans | The following table presents the credit quality indicators by type of loans in each category as of March 31, 2015 and December 31, 2014, respectively (amounts in thousands): | |||||||||||||||||||||||||||||||
Agricultural | Commercial and | Real Estate: | Real Estate: | |||||||||||||||||||||||||||||
Financial | Construction, 1 to 4 | Construction, land | ||||||||||||||||||||||||||||||
family residential | development and | |||||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Grade: | ||||||||||||||||||||||||||||||||
Excellent | $ | 1,270 | $ | 4,428 | $ | — | $ | 271 | ||||||||||||||||||||||||
Good | 12,913 | 29,593 | 7,011 | 16,109 | ||||||||||||||||||||||||||||
Satisfactory | 37,680 | 107,829 | 30,039 | 44,116 | ||||||||||||||||||||||||||||
Monitor | 11,883 | 21,105 | 8,729 | 3,652 | ||||||||||||||||||||||||||||
Special Mention | 22,156 | 12,009 | 3,586 | 11,658 | ||||||||||||||||||||||||||||
Substandard | 2,672 | 5,428 | 1,176 | 197 | ||||||||||||||||||||||||||||
Total | $ | 88,574 | $ | 180,392 | $ | 50,541 | $ | 76,003 | ||||||||||||||||||||||||
Real Estate: | Real Estate: | Real Estate: Mortgage, | Real Estate: | |||||||||||||||||||||||||||||
Mortgage, | Mortgage, 1 to 4 | 1 to 4 family junior | Mortgage, multi- | |||||||||||||||||||||||||||||
farmland | family first liens | liens | family | |||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Grade: | ||||||||||||||||||||||||||||||||
Excellent | $ | 2,701 | $ | 464 | $ | — | $ | 6,925 | ||||||||||||||||||||||||
Good | 34,038 | 21,627 | 3,166 | 72,585 | ||||||||||||||||||||||||||||
Satisfactory | 105,477 | 575,973 | 99,103 | 111,397 | ||||||||||||||||||||||||||||
Monitor | 12,233 | 43,324 | 3,963 | 35,196 | ||||||||||||||||||||||||||||
Special Mention | 11,119 | 18,082 | 2,425 | 16,972 | ||||||||||||||||||||||||||||
Substandard | 3,490 | 18,584 | 2,071 | 366 | ||||||||||||||||||||||||||||
Total | $ | 169,058 | $ | 678,054 | $ | 110,728 | $ | 243,441 | ||||||||||||||||||||||||
Real Estate: | Loans to | Obligations of state and | Total | |||||||||||||||||||||||||||||
Mortgage, | individuals | political subdivisions | ||||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Grade: | ||||||||||||||||||||||||||||||||
Excellent | $ | 15,466 | $ | — | $ | 2,422 | $ | 33,947 | ||||||||||||||||||||||||
Good | 82,434 | 95 | 42,677 | 322,248 | ||||||||||||||||||||||||||||
Satisfactory | 184,925 | 20,095 | 10,035 | 1,326,669 | ||||||||||||||||||||||||||||
Monitor | 22,407 | 340 | — | 162,832 | ||||||||||||||||||||||||||||
Special Mention | 10,076 | 287 | 26 | 108,396 | ||||||||||||||||||||||||||||
Substandard | 5,908 | 186 | — | 40,078 | ||||||||||||||||||||||||||||
Total | $ | 321,216 | $ | 21,003 | $ | 55,160 | $ | 1,994,170 | ||||||||||||||||||||||||
Agricultural | Commercial and | Real Estate: | Real Estate: | |||||||||||||||||||||||||||||
Financial | Construction, 1 to 4 | Construction, land | ||||||||||||||||||||||||||||||
family residential | development and | |||||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Grade: | ||||||||||||||||||||||||||||||||
Excellent | $ | 1,375 | $ | 4,820 | $ | — | $ | 276 | ||||||||||||||||||||||||
Good | 13,214 | 37,941 | 6,893 | 13,875 | ||||||||||||||||||||||||||||
Satisfactory | 51,107 | 94,158 | 27,738 | 47,852 | ||||||||||||||||||||||||||||
Monitor | 15,243 | 20,445 | 8,435 | 2,811 | ||||||||||||||||||||||||||||
Special Mention | 13,070 | 11,031 | 1,881 | 11,870 | ||||||||||||||||||||||||||||
Substandard | 3,636 | 6,343 | 1,002 | 336 | ||||||||||||||||||||||||||||
Total | $ | 97,645 | $ | 174,738 | $ | 45,949 | $ | 77,020 | ||||||||||||||||||||||||
Real Estate: | Real Estate: | Real Estate: Mortgage, | Real Estate: | |||||||||||||||||||||||||||||
Mortgage, | Mortgage, 1 to 4 | 1 to 4 family junior | Mortgage, multi- | |||||||||||||||||||||||||||||
farmland | family first liens | liens | family | |||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Grade: | ||||||||||||||||||||||||||||||||
Excellent | $ | 2,867 | $ | 474 | $ | — | $ | 7,011 | ||||||||||||||||||||||||
Good | 36,680 | 22,094 | 2,875 | 73,852 | ||||||||||||||||||||||||||||
Satisfactory | 103,552 | 571,546 | 99,095 | 111,650 | ||||||||||||||||||||||||||||
Monitor | 11,754 | 41,805 | 3,377 | 35,812 | ||||||||||||||||||||||||||||
Special Mention | 4,721 | 18,428 | 2,520 | 16,611 | ||||||||||||||||||||||||||||
Substandard | 2,929 | 18,327 | 2,417 | 277 | ||||||||||||||||||||||||||||
Total | $ | 162,503 | $ | 672,674 | $ | 110,284 | $ | 245,213 | ||||||||||||||||||||||||
Real Estate: | Loans to | Obligations of state and | Total | |||||||||||||||||||||||||||||
Mortgage, | individuals | political subdivisions | ||||||||||||||||||||||||||||||
commercial | ||||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Grade: | ||||||||||||||||||||||||||||||||
Excellent | $ | 15,416 | $ | 87 | $ | 2,440 | $ | 34,766 | ||||||||||||||||||||||||
Good | 87,612 | 94 | 43,108 | 338,238 | ||||||||||||||||||||||||||||
Satisfactory | 178,069 | 20,465 | 10,181 | 1,315,413 | ||||||||||||||||||||||||||||
Monitor | 25,165 | 251 | — | 165,098 | ||||||||||||||||||||||||||||
Special Mention | 9,371 | 353 | — | 89,856 | ||||||||||||||||||||||||||||
Substandard | 5,968 | 92 | — | 41,327 | ||||||||||||||||||||||||||||
Total | $ | 321,601 | $ | 21,342 | $ | 55,729 | $ | 1,984,698 | ||||||||||||||||||||||||
Schedule of past due loans | Past due loans as of March 31, 2015 and December 31, 2014 were as follows: | |||||||||||||||||||||||||||||||
30 - 59 Days | 60 - 89 Days | 90 Days | Total Past | Current | Total | Accruing Loans | ||||||||||||||||||||||||||
Past Due | Past Due | or More | Due | Loans | Past Due 90 | |||||||||||||||||||||||||||
Past Due | Receivable | Days or More | ||||||||||||||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||
Agricultural | $ | 1,797 | $ | — | $ | 70 | $ | 1,867 | $ | 86,707 | $ | 88,574 | $ | — | ||||||||||||||||||
Commercial and financial | 1,662 | — | 208 | 1,870 | 178,522 | 180,392 | — | |||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 276 | — | 199 | 475 | 50,066 | 50,541 | — | |||||||||||||||||||||||||
Construction, land development and commercial | 1,136 | 74 | — | 1,210 | 74,793 | 76,003 | — | |||||||||||||||||||||||||
Mortgage, farmland | — | — | — | — | 169,058 | 169,058 | — | |||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 4,273 | 271 | 759 | 5,303 | 672,751 | 678,054 | — | |||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 172 | 16 | — | 188 | 110,540 | 110,728 | — | |||||||||||||||||||||||||
Mortgage, multi-family | 821 | — | — | 821 | 242,620 | 243,441 | — | |||||||||||||||||||||||||
Mortgage, commercial | 1,463 | 227 | 33 | 1,723 | 319,493 | 321,216 | — | |||||||||||||||||||||||||
Loans to individuals | 28 | — | — | 28 | 20,975 | 21,003 | — | |||||||||||||||||||||||||
Obligations of state and political subdivisions | — | — | — | — | 55,160 | 55,160 | — | |||||||||||||||||||||||||
$ | 11,628 | $ | 588 | $ | 1,269 | $ | 13,485 | $ | 1,980,685 | $ | 1,994,170 | $ | — | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||
Agricultural | $ | 310 | $ | 99 | $ | — | $ | 409 | $ | 97,236 | $ | 97,645 | $ | — | ||||||||||||||||||
Commercial and financial | 397 | 14 | 1,048 | 1,459 | $ | 173,279 | 174,738 | — | ||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | — | — | — | — | $ | 45,949 | 45,949 | — | ||||||||||||||||||||||||
Construction, land development and commercial | 937 | — | — | 937 | $ | 76,083 | 77,020 | — | ||||||||||||||||||||||||
Mortgage, farmland | 753 | — | — | 753 | $ | 161,750 | 162,503 | — | ||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 3,594 | 1,656 | 1,582 | 6,832 | $ | 665,842 | 672,674 | 348 | ||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 181 | 12 | 244 | 437 | $ | 109,847 | 110,284 | — | ||||||||||||||||||||||||
Mortgage, multi-family | — | 21 | — | 21 | $ | 245,192 | 245,213 | — | ||||||||||||||||||||||||
Mortgage, commercial | 359 | 557 | 34 | 950 | $ | 320,651 | 321,601 | — | ||||||||||||||||||||||||
Loans to individuals | 27 | — | — | 27 | $ | 21,315 | 21,342 | — | ||||||||||||||||||||||||
Obligations of state and political subdivisions | — | — | — | — | 55,729 | 55,729 | — | |||||||||||||||||||||||||
$ | 6,558 | $ | 2,359 | $ | 2,908 | $ | 11,825 | $ | 1,972,873 | $ | 1,984,698 | $ | 348 | |||||||||||||||||||
Schedule of impaired loan information | Certain impaired loan information by loan type at March 31, 2015 and December 31, 2014, was as follows: | |||||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||||||
Non-accrual | Accruing loans | TDR loans | Non- | Accruing loans | TDR loans | |||||||||||||||||||||||||||
loans (1) | past due 90 days | accrual | past due 90 days | |||||||||||||||||||||||||||||
or more | loans (1) | or more | ||||||||||||||||||||||||||||||
(Amounts In Thousands) | (Amounts In Thousands) | |||||||||||||||||||||||||||||||
Agricultural | $ | 70 | $ | — | $ | 1,781 | $ | — | $ | — | $ | 1,942 | ||||||||||||||||||||
Commercial and financial | 1,402 | — | 882 | 1,343 | — | 1,366 | ||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 503 | — | 326 | — | — | 431 | ||||||||||||||||||||||||||
Construction, land development and commercial | — | — | 125 | 127 | — | — | ||||||||||||||||||||||||||
Mortgage, farmland | — | — | 2,464 | — | — | 2,220 | ||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 2,060 | — | 1,343 | 1,912 | 348 | 1,199 | ||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 129 | — | 27 | 369 | — | — | ||||||||||||||||||||||||||
Mortgage, multi-family | 148 | — | 5,436 | 55 | — | 5,470 | ||||||||||||||||||||||||||
Mortgage, commercial | 2,113 | — | 1,839 | 2,275 | — | 1,712 | ||||||||||||||||||||||||||
Loans to individuals | — | — | — | — | — | — | ||||||||||||||||||||||||||
$ | 6,425 | $ | — | $ | 14,223 | $ | 6,081 | $ | 348 | $ | 14,340 | |||||||||||||||||||||
-1 | There were $2.07 million and $2.14 million of TDR loans included within nonaccrual loans as of March 31, 2015 and December 31, 2014, respectively. | |||||||||||||||||||||||||||||||
Schedule of information for TDR loans | Below is a summary of information for TDR loans as of March 31, 2015 and December 31, 2014: | |||||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||||||
Number | Recorded | Commitments | Number | Recorded | Commitments | |||||||||||||||||||||||||||
of | investment | outstanding | of | investment | outstanding | |||||||||||||||||||||||||||
contracts | contracts | |||||||||||||||||||||||||||||||
(Amounts In Thousands) | (Amounts In Thousands) | |||||||||||||||||||||||||||||||
Agricultural | 8 | $ | 1,782 | $ | 130 | 9 | $ | 1,942 | $ | 272 | ||||||||||||||||||||||
Commercial and financial | 12 | 1,844 | 87 | 13 | 2,202 | 53 | ||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 3 | 499 | 11 | 3 | 431 | 111 | ||||||||||||||||||||||||||
Construction, land development and commercial | 1 | 135 | — | 1 | 127 | — | ||||||||||||||||||||||||||
Mortgage, farmland | 6 | 2,464 | — | 4 | 2,220 | — | ||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 12 | 1,608 | 45 | 11 | 1,467 | — | ||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 1 | 27 | — | 1 | 225 | 65 | ||||||||||||||||||||||||||
Mortgage, multi-family | 2 | 5,436 | — | 2 | 5,470 | — | ||||||||||||||||||||||||||
Mortgage, commercial | 9 | 2,505 | — | 8 | 2,398 | — | ||||||||||||||||||||||||||
Loans to individuals | — | — | — | — | — | — | ||||||||||||||||||||||||||
54 | $ | 16,300 | $ | 273 | 52 | $ | 16,482 | $ | 501 | |||||||||||||||||||||||
The following is a summary of TDR loans that were modified during the three months ended March 31, 2015: | ||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | ||||||||||||||||||||||||||||||||
Number | Pre-modification | Post-modification | ||||||||||||||||||||||||||||||
of | recorded | recorded | ||||||||||||||||||||||||||||||
contracts | investment | investment | ||||||||||||||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||||||||||||||
Agricultural | 3 | $ | 160 | $ | 160 | |||||||||||||||||||||||||||
Commercial and financial | 1 | 191 | 177 | |||||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | — | — | — | |||||||||||||||||||||||||||||
Construction, land development and commercial | — | — | — | |||||||||||||||||||||||||||||
Mortgage, farmland | 3 | 644 | 531 | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family first lien | 1 | 157 | 157 | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 1 | 27 | 27 | |||||||||||||||||||||||||||||
Mortgage, multi-family | — | — | — | |||||||||||||||||||||||||||||
Mortgage, commercial | 1 | 178 | 146 | |||||||||||||||||||||||||||||
10 | $ | 1,357 | $ | 1,198 | ||||||||||||||||||||||||||||
Schedule of impaired loans | Information regarding impaired loans as of and for the three months ended March 31, 2015 is as follows: | |||||||||||||||||||||||||||||||
March 31, 2015 | Three Months Ended | |||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average Recorded | Interest Income | ||||||||||||||||||||||||||||
Investment | Principal | Allowance | Investment | Recognized | ||||||||||||||||||||||||||||
Balance | ||||||||||||||||||||||||||||||||
With no related allowance recorded: | (Amounts In Thousands) | |||||||||||||||||||||||||||||||
Agricultural | $ | 1,683 | $ | 1,709 | $ | — | $ | 1,576 | $ | 18 | ||||||||||||||||||||||
Commercial and financial | 1,678 | 3,197 | — | 1,724 | 4 | |||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 183 | 244 | — | 179 | 1 | |||||||||||||||||||||||||||
Construction, land development and commercial | 125 | 220 | — | 126 | 1 | |||||||||||||||||||||||||||
Mortgage, farmland | 2,332 | 2,445 | — | 2,354 | 28 | |||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 3,089 | 3,769 | — | 3,175 | 12 | |||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 129 | 426 | — | 136 | — | |||||||||||||||||||||||||||
Mortgage, multi-family | 5,584 | 5,677 | — | 5,609 | 61 | |||||||||||||||||||||||||||
Mortgage, commercial | 3,259 | 4,735 | — | 3,363 | 15 | |||||||||||||||||||||||||||
Loans to individuals | — | 20 | — | — | — | |||||||||||||||||||||||||||
$ | 18,062 | $ | 22,442 | $ | — | $ | 18,242 | $ | 140 | |||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||
Agricultural | $ | 168 | $ | 168 | $ | 13 | $ | 170 | $ | 2 | ||||||||||||||||||||||
Commercial and financial | 606 | 606 | 7 | 620 | 8 | |||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 646 | 658 | 33 | 646 | 2 | |||||||||||||||||||||||||||
Construction, land development and commercial | — | — | — | — | — | |||||||||||||||||||||||||||
Mortgage, farmland | 132 | 132 | 26 | 132 | 2 | |||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 314 | 313 | 63 | 313 | 3 | |||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 27 | 27 | 5 | 27 | — | |||||||||||||||||||||||||||
Mortgage, multi-family | — | — | — | — | — | |||||||||||||||||||||||||||
Mortgage, commercial | 693 | 693 | 8 | 695 | 9 | |||||||||||||||||||||||||||
Loans to individuals | — | — | — | — | — | |||||||||||||||||||||||||||
$ | 2,586 | $ | 2,597 | $ | 155 | $ | 2,603 | $ | 26 | |||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||||||
Agricultural | $ | 1,851 | $ | 1,877 | $ | 13 | $ | 1,746 | $ | 20 | ||||||||||||||||||||||
Commercial and financial | 2,284 | 3,803 | 7 | 2,344 | 12 | |||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 829 | 902 | 33 | 825 | 3 | |||||||||||||||||||||||||||
Construction, land development and commercial | 125 | 220 | — | 126 | 1 | |||||||||||||||||||||||||||
Mortgage, farmland | 2,464 | 2,577 | 26 | 2,486 | 30 | |||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 3,403 | 4,082 | 63 | 3,488 | 15 | |||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 156 | 453 | 5 | 163 | — | |||||||||||||||||||||||||||
Mortgage, multi-family | 5,584 | 5,677 | — | 5,609 | 61 | |||||||||||||||||||||||||||
Mortgage, commercial | 3,952 | 5,428 | 8 | 4,058 | 24 | |||||||||||||||||||||||||||
Loans to individuals | — | 20 | — | — | — | |||||||||||||||||||||||||||
$ | 20,648 | $ | 25,039 | $ | 155 | $ | 20,845 | $ | 166 | |||||||||||||||||||||||
Information regarding impaired loans as of December 31, 2014 is as follows: | ||||||||||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | ||||||||||||||||||||||||||||||
Investment | Balance | Allowance | ||||||||||||||||||||||||||||||
With no related allowance recorded: | (Amounts In Thousands) | |||||||||||||||||||||||||||||||
Agricultural | $ | 1,634 | $ | 1,696 | $ | — | ||||||||||||||||||||||||||
Commercial and financial | 2,076 | 3,695 | — | |||||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 89 | 89 | — | |||||||||||||||||||||||||||||
Construction, land development and commercial | 128 | 220 | — | |||||||||||||||||||||||||||||
Mortgage, farmland | 2,040 | 2,040 | — | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 2,951 | 3,705 | — | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 369 | 673 | — | |||||||||||||||||||||||||||||
Mortgage, multi-family | 5,525 | 5,632 | — | |||||||||||||||||||||||||||||
Mortgage, commercial | 3,290 | 4,588 | — | |||||||||||||||||||||||||||||
Loans to individuals | — | 20 | — | |||||||||||||||||||||||||||||
$ | 18,102 | $ | 22,358 | $ | — | |||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||
Agricultural | $ | 210 | $ | 247 | $ | 44 | ||||||||||||||||||||||||||
Commercial and financial | 633 | 633 | 9 | |||||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 343 | 354 | 28 | |||||||||||||||||||||||||||||
Construction, land development and commercial | — | — | — | |||||||||||||||||||||||||||||
Mortgage, farmland | 278 | 278 | 12 | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 506 | 596 | 52 | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | — | — | — | |||||||||||||||||||||||||||||
Mortgage, multi-family | — | — | — | |||||||||||||||||||||||||||||
Mortgage, commercial | 697 | 697 | 9 | |||||||||||||||||||||||||||||
Loans to individuals | — | — | — | |||||||||||||||||||||||||||||
$ | 2,667 | $ | 2,805 | $ | 154 | |||||||||||||||||||||||||||
Total: | ||||||||||||||||||||||||||||||||
Agricultural | $ | 1,844 | $ | 1,943 | $ | 44 | ||||||||||||||||||||||||||
Commercial and financial | 2,709 | 4,328 | 9 | |||||||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
Construction, 1 to 4 family residential | 432 | 443 | 28 | |||||||||||||||||||||||||||||
Construction, land development and commercial | 128 | 220 | — | |||||||||||||||||||||||||||||
Mortgage, farmland | 2,318 | 2,318 | 12 | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family first liens | 3,457 | 4,301 | 52 | |||||||||||||||||||||||||||||
Mortgage, 1 to 4 family junior liens | 369 | 673 | — | |||||||||||||||||||||||||||||
Mortgage, multi-family | 5,525 | 5,632 | — | |||||||||||||||||||||||||||||
Mortgage, commercial | 3,987 | 5,285 | 9 | |||||||||||||||||||||||||||||
Loans to individuals | — | 20 | — | |||||||||||||||||||||||||||||
$ | 20,769 | $ | 25,163 | $ | 154 | |||||||||||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Carrying value and estimated fair values of entity's financial instruments | The carrying value and estimated fair values of the Company's financial instruments as of March 31, 2015 are as follows: | |||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||
Carrying | Estimated Fair | Readily | Observable | Company | ||||||||||||||||
Amount | Value | Available | Market | Determined | ||||||||||||||||
Market | Prices(2) | Market | ||||||||||||||||||
Prices(1) | Prices(3) | |||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||
Financial instrument assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 83,345 | $ | 83,345 | $ | 83,345 | $ | — | $ | — | ||||||||||
Investment securities | 268,324 | 268,324 | — | 268,324 | — | |||||||||||||||
Loans held for sale | 8,311 | 8,311 | — | 8,311 | — | |||||||||||||||
Loans | ||||||||||||||||||||
Agricultural | 86,030 | 86,067 | — | — | 86,067 | |||||||||||||||
Commercial and financial | 176,034 | 176,493 | — | — | 176,493 | |||||||||||||||
Real estate: | ||||||||||||||||||||
Construction, 1 to 4 family residential | 49,679 | 49,317 | — | — | 49,317 | |||||||||||||||
Construction, land development and commercial | 74,615 | 73,978 | — | — | 73,978 | |||||||||||||||
Mortgage, farmland | 166,281 | 167,086 | — | — | 167,086 | |||||||||||||||
Mortgage, 1 to 4 family first liens | 671,734 | 674,531 | — | — | 674,531 | |||||||||||||||
Mortgage, 1 to 4 family junior liens | 109,592 | 115,978 | — | — | 115,978 | |||||||||||||||
Mortgage, multi-family | 241,971 | 244,840 | — | — | 244,840 | |||||||||||||||
Mortgage, commercial | 318,561 | 318,022 | — | — | 318,022 | |||||||||||||||
Loans to individuals | 20,594 | 20,560 | — | — | 20,560 | |||||||||||||||
Obligations of state and political subdivisions | 54,719 | 54,394 | — | — | 54,394 | |||||||||||||||
Accrued interest receivable | 9,102 | 9,102 | — | 9,102 | — | |||||||||||||||
Total financial instrument assets | $ | 2,338,892 | $ | 2,350,348 | $ | 83,345 | $ | 285,737 | $ | 1,981,266 | ||||||||||
Financial instrument liabilities | ||||||||||||||||||||
Deposits | ||||||||||||||||||||
Noninterest-bearing deposits | $ | 280,432 | $ | 280,432 | $ | — | $ | 280,432 | $ | — | ||||||||||
Interest-bearing deposits | 1,626,903 | 1,629,897 | — | 1,629,897 | — | |||||||||||||||
Other borrowings | 40,928 | 40,928 | — | 40,928 | — | |||||||||||||||
Federal Home Loan Bank borrowings | 140,000 | 144,697 | — | 144,697 | — | |||||||||||||||
Interest rate swaps | 3,888 | 3,888 | — | 3,888 | — | |||||||||||||||
Accrued interest payable | 859 | 859 | — | 859 | — | |||||||||||||||
Total financial instrument liabilities | $ | 2,093,010 | $ | 2,100,701 | $ | — | $ | 2,100,701 | $ | — | ||||||||||
Face Amount | ||||||||||||||||||||
Financial instrument with off-balance sheet risk: | ||||||||||||||||||||
Loan commitments | $ | 386,613 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Letters of credit | 9,582 | — | — | — | — | |||||||||||||||
Total financial instrument liabilities with off-balance-sheet risk | $ | 396,195 | $ | — | $ | — | $ | — | $ | — | ||||||||||
-1 | Considered Level 1 under Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures (“ASC 820”). | |||||||||||||||||||
-2 | Considered Level 2 under ASC 820. | |||||||||||||||||||
-3 | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. | |||||||||||||||||||
The carrying value and estimated fair values of the Company's financial instruments as of December 31, 2014 are as follows: | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Carrying | Estimated Fair | Readily | Observable | Company | ||||||||||||||||
Amount | Value | Available | Market | Determined | ||||||||||||||||
Market | Prices(2) | Market | ||||||||||||||||||
Prices(1) | Prices(3) | |||||||||||||||||||
(Amounts In Thousands) | ||||||||||||||||||||
Financial instrument assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 29,174 | $ | 29,174 | $ | 29,174 | $ | — | $ | — | ||||||||||
Investment securities | 267,240 | 267,240 | — | 267,240 | — | |||||||||||||||
Loans held for sale | 4,476 | 4,476 | — | 4,476 | — | |||||||||||||||
Loans | ||||||||||||||||||||
Agricultural | 95,130 | 95,126 | — | — | 95,126 | |||||||||||||||
Commercial and financial | 170,507 | 171,081 | — | — | 171,081 | |||||||||||||||
Real estate: | ||||||||||||||||||||
Construction, 1 to 4 family residential | 45,139 | 45,159 | — | — | 45,159 | |||||||||||||||
Construction, land development and commercial | 75,589 | 75,623 | — | — | 75,623 | |||||||||||||||
Mortgage, farmland | 159,831 | 159,623 | — | — | 159,623 | |||||||||||||||
Mortgage, 1 to 4 family first liens | 666,406 | 665,428 | — | — | 665,428 | |||||||||||||||
Mortgage, 1 to 4 family junior liens | 109,133 | 115,726 | — | — | 115,726 | |||||||||||||||
Mortgage, multi-family | 243,723 | 246,191 | — | — | 246,191 | |||||||||||||||
Mortgage, commercial | 318,896 | 318,211 | — | — | 318,211 | |||||||||||||||
Loans to individuals | 21,043 | 21,016 | — | — | 21,016 | |||||||||||||||
Obligations of state and political subdivisions | 55,281 | 54,800 | — | — | 54,800 | |||||||||||||||
Accrued interest receivable | 8,276 | 8,276 | — | 8,276 | — | |||||||||||||||
Total financial instrument assets | $ | 2,269,844 | $ | 2,277,150 | $ | 29,174 | $ | 279,992 | $ | 1,967,984 | ||||||||||
Financial instrument liabilities: | ||||||||||||||||||||
Deposits | ||||||||||||||||||||
Noninterest-bearing deposits | $ | 288,718 | $ | 288,718 | $ | — | $ | 288,718 | $ | — | ||||||||||
Interest-bearing deposits | 1,546,351 | 1,550,974 | — | 1,550,974 | — | |||||||||||||||
Other borrowings | 47,499 | 47,499 | — | 47,499 | — | |||||||||||||||
Federal Home Loan Bank borrowings | 140,000 | 145,210 | — | 145,210 | — | |||||||||||||||
Interest rate swaps | 2,796 | 2,796 | — | 2,796 | — | |||||||||||||||
Accrued interest payable | 902 | 902 | — | 902 | — | |||||||||||||||
Total financial instrument liabilities | $ | 2,026,266 | $ | 2,036,099 | $ | — | $ | 2,036,099 | $ | — | ||||||||||
Face Amount | ||||||||||||||||||||
Financial instrument with off-balance sheet risk: | ||||||||||||||||||||
Loan commitments | $ | 334,100 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Letters of credit | 12,437 | — | — | — | — | |||||||||||||||
Total financial instrument liabilities with off-balance-sheet risk | $ | 346,537 | $ | — | $ | — | $ | — | $ | — | ||||||||||
-1 | Considered Level 1 under ASC 820. | |||||||||||||||||||
-2 | Considered Level 2 under ASC 820. | |||||||||||||||||||
-3 | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. | |||||||||||||||||||
Schedule of assets and liabilities measured at fair value on a recurring basis | The table below represents the balances of assets and liabilities measured at fair value on a recurring basis: | |||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||
Readily | Observable | Company | Total at Fair | |||||||||||||||||
Available | Market Prices(2) | Determined | Value | |||||||||||||||||
Market | Market | |||||||||||||||||||
Prices(1) | Prices(3) | |||||||||||||||||||
Securities available for sale | (Amounts In Thousands) | |||||||||||||||||||
U.S. Treasury | $ | — | $ | 22,569 | $ | — | $ | 22,569 | ||||||||||||
State and political subdivisions | — | 171,358 | — | 171,358 | ||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | — | 65,951 | — | 65,951 | ||||||||||||||||
Derivative Financial Instruments | ||||||||||||||||||||
Interest rate swaps | $ | — | (3,888 | ) | $ | — | (3,888 | ) | ||||||||||||
Total | $ | — | $ | 255,990 | $ | — | $ | 255,990 | ||||||||||||
December 31, 2014 | ||||||||||||||||||||
Readily | Observable | Company | Total at Fair | |||||||||||||||||
Available | Market Prices(2) | Determined | Value | |||||||||||||||||
Market | Market | |||||||||||||||||||
Prices(1) | Prices(3) | |||||||||||||||||||
Securities available for sale | (Amounts In Thousands) | |||||||||||||||||||
U.S. Treasury | $ | — | $ | 22,333 | $ | — | $ | 22,333 | ||||||||||||
State and political subdivisions | — | 168,968 | — | 168,968 | ||||||||||||||||
Other securities (FHLB, FHLMC and FNMA) | — | 67,691 | — | 67,691 | ||||||||||||||||
Derivative Financial Instruments | ||||||||||||||||||||
Interest rate swaps | — | (2,796 | ) | — | (2,796 | ) | ||||||||||||||
Total | $ | — | $ | 256,196 | $ | — | $ | 256,196 | ||||||||||||
-1 | Considered Level 1 under ASC 820. | |||||||||||||||||||
-2 | Considered Level 2 under ASC 820. | |||||||||||||||||||
-3 | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. | |||||||||||||||||||
Schedule of assets measured at fair value on a nonrecurring basis | The following tables present the Company’s assets that are measured at fair value on a nonrecurring basis. | |||||||||||||||||||
March 31, 2015 | Three Months Ended March 31, 2015 | |||||||||||||||||||
Readily | Observable | Company | Total at | Total Losses | ||||||||||||||||
Available | Market | Determined | Fair | |||||||||||||||||
Market | Prices(2) | Market | Value | |||||||||||||||||
Prices(1) | Prices(3) | |||||||||||||||||||
(Amounts in Thousands) | ||||||||||||||||||||
Loans (4) | ||||||||||||||||||||
Agricultural | $ | — | $ | — | $ | 1,733 | $ | 1,733 | $ | — | ||||||||||
Commercial and financial | — | — | 1,402 | 1,402 | — | |||||||||||||||
Real Estate: | ||||||||||||||||||||
Construction, 1 to 4 family residential | — | — | 639 | 639 | 61 | |||||||||||||||
Construction, land development and commercial | — | — | — | — | — | |||||||||||||||
Mortgage, farmland | — | — | 2,438 | 2,438 | — | |||||||||||||||
Mortgage, 1 to 4 family first liens | — | — | 2,781 | 2,781 | 254 | |||||||||||||||
Mortgage, 1 to 4 family junior liens | — | — | 150 | 150 | — | |||||||||||||||
Mortgage, multi-family | — | — | 5,584 | 5,584 | 38 | |||||||||||||||
Mortgage, commercial | — | — | 2,091 | 2,091 | 140 | |||||||||||||||
Loans to individuals | — | — | — | — | — | |||||||||||||||
Foreclosed assets (5) | — | — | 698 | 698 | 30 | |||||||||||||||
Total | $ | — | $ | — | $ | 17,516 | $ | 17,516 | $ | 523 | ||||||||||
-1 | Considered Level 1 under ASC 820. | |||||||||||||||||||
-2 | Considered Level 2 under ASC 820. | |||||||||||||||||||
-3 | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. | |||||||||||||||||||
-4 | Represents carrying value and related write-downs of loans for which adjustments are based on the value of the collateral. The carrying value of loans fully-charged off is zero. | |||||||||||||||||||
-5 | Represents the fair value and related losses of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets. | |||||||||||||||||||
Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis (continued) | ||||||||||||||||||||
December 31, 2014 | Year Ended December 31, 2014 | |||||||||||||||||||
Readily | Observable | Company | Total at Fair | Total Losses | ||||||||||||||||
Available | Market | Determined | Value | |||||||||||||||||
Market | Prices(2) | Market | ||||||||||||||||||
Prices(1) | Prices(3) | |||||||||||||||||||
(Amounts in Thousands) | ||||||||||||||||||||
Loans (4) | ||||||||||||||||||||
Agricultural | $ | — | $ | — | $ | 1,679 | $ | 1,679 | $ | 25 | ||||||||||
Commercial and financial | — | — | 1,709 | 1,709 | 206 | |||||||||||||||
Real Estate: | ||||||||||||||||||||
Construction, 1 to 4 family residential | — | — | 315 | 315 | — | |||||||||||||||
Construction, land development and commercial | — | — | — | — | — | |||||||||||||||
Mortgage, farmland | — | — | 2,040 | 2,040 | — | |||||||||||||||
Mortgage, 1 to 4 family first liens | — | — | 2,500 | 2,500 | 576 | |||||||||||||||
Mortgage, 1 to 4 family junior liens | — | — | 369 | 369 | 24 | |||||||||||||||
Mortgage, multi-family | — | — | 5,525 | 5,525 | — | |||||||||||||||
Mortgage, commercial | — | — | 1,918 | 1,918 | 328 | |||||||||||||||
Loans to individuals | — | — | — | — | — | |||||||||||||||
Foreclosed assets (5) | — | — | 301 | 301 | 210 | |||||||||||||||
Total | $ | — | $ | — | $ | 16,356 | $ | 16,356 | $ | 1,369 | ||||||||||
-1 | Considered Level 1 under ASC 820. | |||||||||||||||||||
-2 | Considered Level 2 under ASC 820. | |||||||||||||||||||
-3 | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. | |||||||||||||||||||
-4 | Represents carrying value and related write-downs of loans for which adjustments are based on the value of the collateral. The carrying value of loans fully-charged off is zero. | |||||||||||||||||||
-5 | Represents the fair value and related losses of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Schedule of banks commitments | A summary of the Bank’s commitments at March 31, 2015 and December 31, 2014 is as follows: | |||||||
March 31, 2015 | December 31, 2014 | |||||||
(Amounts In Thousands) | ||||||||
Firm loan commitments and unused portion of lines of credit: | ||||||||
Home equity loans | $ | 41,478 | $ | 40,484 | ||||
Credit cards | 47,873 | 46,573 | ||||||
Commercial, real estate and home construction | 114,570 | 81,613 | ||||||
Commercial lines and real estate purchase loans | 182,692 | 165,430 | ||||||
Outstanding letters of credit | 9,582 | 12,437 | ||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||
Identification of the balance sheet category and fair values of the derivative instruments designated as cash flow hedges | The table below identifies the balance sheet category and fair values of the Bank’s derivative instruments designated as cash flow hedges as of March 31, 2015 and December 31, 2014: | |||||||||||||||
Notional | Fair | Balance | Maturity | |||||||||||||
Amount | Value | Sheet | ||||||||||||||
Category | ||||||||||||||||
(Amounts in Thousands) | ||||||||||||||||
March 31, 2015 | ||||||||||||||||
Interest rate swap | $ | 25,000 | $ | (1,340 | ) | Other Liabilities | 11/9/20 | |||||||||
Interest rate swap | 25,000 | (2,548 | ) | Other Liabilities | 11/7/23 | |||||||||||
December 31, 2014 | ||||||||||||||||
Interest rate swap | $ | 25,000 | $ | (864 | ) | Other Liabilities | 11/9/20 | |||||||||
Interest rate swap | 25,000 | (1,932 | ) | Other Liabilities | 11/7/23 | |||||||||||
Identification of the gains and losses recognized on the derivative instruments designated as cash flow hedges | The table below identifies the gains and losses recognized on the Bank’s derivative instruments designated as cash flow hedges as of March 31, 2015 and December 31, 2014: | |||||||||||||||
Effective Portion | Ineffective Portion | |||||||||||||||
Recognized | Reclassifed from AOCI into | Recognized in Income on | ||||||||||||||
in OCI | Income | Derivatives | ||||||||||||||
Amount of | Category | Amount | Category | Amount | ||||||||||||
Gain (Loss) | of Gain | of Gain | ||||||||||||||
(Loss) | (Loss) | |||||||||||||||
(Amounts in Thousands) | ||||||||||||||||
March 31, 2015 | ||||||||||||||||
Interest rate swap | $ | (294 | ) | Interest Expense | $ | — | Other Income | $ | — | |||||||
Interest rate swap | (380 | ) | Interest Expense | — | Other Income | — | ||||||||||
December 31, 2014 | ||||||||||||||||
Interest rate swap | $ | (754 | ) | Interest Expense | $ | — | Other Income | $ | — | |||||||
Interest rate swap | (1,448 | ) | Interest Expense | — | Other Income | — | ||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Details) | 3 Months Ended |
Mar. 31, 2015 | |
segment | |
Accounting Policies [Abstract] | |
Number of operating segments | 1 |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
Summary of computation of basic and diluted earnings per share [Abstract] | ||||
Common shares outstanding at the beginning of the period | 4,690,216 | 4,711,995 | ||
Weighted average number of net shares redeemed | -8,568 | -1,502 | ||
Weighted average shares outstanding (basic) | 4,681,648 | 4,710,493 | ||
Weighted average of potential dilutive shares attributable to stock options granted, computed under the treasury stock method | 2,490 | 2,591 | ||
Weighted average number of shares (diluted) | 4,684,138 | 4,713,084 | ||
Net income (In thousands) | $7,380 | $6,744 | ||
Earnings per share [Abstract] | ||||
Basic (in dollars per share) | $1.58 | $1.43 | ||
Diluted (in dollars per share) | $1.58 | $1.43 |
Other_Comprehensive_Income_Det
Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Tax effect | $261 | $276 |
Net-of-tax amount | -422 | -448 |
Unrealized gains on available-for-sale securities [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated Other Comprehensive Income (Loss), before Tax | 3,205 | 2,072 |
Net unrealized (loss) gain on derivatives used for cash flow hedges [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated Other Comprehensive Income (Loss), before Tax | ($3,888) | ($2,796) |
Securities_Details
Securities (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
security | security | |
Available-for-sale Securities [Abstract] | ||
Securities available for sale, Amount | $259,878,000 | $258,992,000 |
Securities available for sale, Percent | 100.00% | 100.00% |
Available-for-sale Securities Reconciliation [Abstract] | ||
Amortized Cost | 256,673,000 | 256,920,000 |
Gross Unrealized Gains | 3,422,000 | 2,664,000 |
Gross Unrealized (Losses) | -217,000 | -592,000 |
Estimated Fair Value | 259,878,000 | 258,992,000 |
Amortized Cost [Abstract] | ||
Due in one year or less | 41,404,000 | |
Due after one year through five years | 143,583,000 | |
Due after five years through ten years | 70,361,000 | |
Due over ten years | 1,325,000 | |
Amortized Cost | 256,673,000 | |
Fair Value [Abstract] | ||
Due in one year or less | 41,510,000 | |
Due after one year through five years | 145,765,000 | |
Due after five years through ten years | 71,278,000 | |
Due over ten years | 1,325,000 | |
Fair Value | 259,878,000 | 258,992,000 |
Carrying value of investment securities pledged to collateralize short-term borrowings | 62,340,000 | |
Less than 12 months [Abstract] | ||
Number of securities | 71 | 106 |
Fair Value | 28,040,000 | 58,502,000 |
Unrealized Loss | -106,000 | -260,000 |
Percentage | 0.38% | 0.44% |
12 months or more [Abstract] | ||
Number of securities | 28 | 78 |
Fair Value | 6,070,000 | 16,154,000 |
Unrealized Loss | -111,000 | -332,000 |
Percentage | 1.83% | 2.06% |
Total [Abstract] | ||
Number of securities | 99 | 184 |
Fair Value | 34,110,000 | 74,656,000 |
Unrealized Loss | -217,000 | -592,000 |
Percentage | 0.64% | 0.79% |
U.S. Treasury [Member] | ||
Available-for-sale Securities [Abstract] | ||
Securities available for sale, Amount | 22,569,000 | 22,333,000 |
Securities available for sale, Percent | 8.68% | 8.62% |
Available-for-sale Securities Reconciliation [Abstract] | ||
Amortized Cost | 22,362,000 | 22,351,000 |
Gross Unrealized Gains | 207,000 | 18,000 |
Gross Unrealized (Losses) | 0 | -36,000 |
Estimated Fair Value | 22,569,000 | 22,333,000 |
Fair Value [Abstract] | ||
Fair Value | 22,569,000 | 22,333,000 |
Less than 12 months [Abstract] | ||
Number of securities | 0 | 5 |
Fair Value | 0 | 12,396,000 |
Unrealized Loss | 0 | -36,000 |
Percentage | 0.00% | 0.29% |
12 months or more [Abstract] | ||
Number of securities | 0 | 0 |
Fair Value | 0 | 0 |
Unrealized Loss | 0 | 0 |
Percentage | 0.00% | 0.00% |
Total [Abstract] | ||
Number of securities | 0 | 5 |
Fair Value | 0 | 12,396,000 |
Unrealized Loss | 0 | -36,000 |
Percentage | 0.00% | 0.29% |
Other securities (FHLB, FHLMC and FNMA) [Member] | ||
Available-for-sale Securities [Abstract] | ||
Securities available for sale, Amount | 65,951,000 | 67,691,000 |
Securities available for sale, Percent | 25.38% | 26.14% |
Available-for-sale Securities Reconciliation [Abstract] | ||
Amortized Cost | 65,693,000 | 67,644,000 |
Gross Unrealized Gains | 294,000 | 147,000 |
Gross Unrealized (Losses) | -36,000 | -100,000 |
Estimated Fair Value | 65,951,000 | 67,691,000 |
Fair Value [Abstract] | ||
Fair Value | 65,951,000 | 67,691,000 |
Less than 12 months [Abstract] | ||
Number of securities | 5 | 10 |
Fair Value | 13,423,000 | 24,382,000 |
Unrealized Loss | -36,000 | -100,000 |
Percentage | 0.27% | 0.41% |
12 months or more [Abstract] | ||
Number of securities | 0 | 0 |
Fair Value | 0 | 0 |
Unrealized Loss | 0 | 0 |
Percentage | 0.00% | 0.00% |
Total [Abstract] | ||
Number of securities | 5 | 10 |
Fair Value | 13,423,000 | 24,382,000 |
Unrealized Loss | -36,000 | -100,000 |
Percentage | 0.27% | 0.41% |
State and political subdivisions [Member] | ||
Available-for-sale Securities [Abstract] | ||
Securities available for sale, Amount | 171,358,000 | 168,968,000 |
Securities available for sale, Percent | 65.94% | 65.24% |
Available-for-sale Securities Reconciliation [Abstract] | ||
Amortized Cost | 168,618,000 | 166,925,000 |
Gross Unrealized Gains | 2,921,000 | 2,499,000 |
Gross Unrealized (Losses) | -181,000 | -456,000 |
Estimated Fair Value | 171,358,000 | 168,968,000 |
Fair Value [Abstract] | ||
Fair Value | 171,358,000 | 168,968,000 |
Less than 12 months [Abstract] | ||
Number of securities | 66 | 91 |
Fair Value | 14,617,000 | 21,724,000 |
Unrealized Loss | -70,000 | -124,000 |
Percentage | 0.48% | 0.57% |
12 months or more [Abstract] | ||
Number of securities | 28 | 78 |
Fair Value | 6,070,000 | 16,154,000 |
Unrealized Loss | -111,000 | -332,000 |
Percentage | 1.83% | 2.06% |
Total [Abstract] | ||
Number of securities | 94 | 169 |
Fair Value | 20,687,000 | 37,878,000 |
Unrealized Loss | ($181,000) | ($456,000) |
Percentage | 0.87% | 1.20% |
Loans_Details
Loans (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Summary of classes of loans (abstract) | |||
Loans and receivable | $1,994,170 | $1,984,698 | $1,850,184 |
Net unamortized fees and costs | 689 | 691 | |
Loans and receivable, gross | 1,994,859 | 1,985,389 | |
Less allowance for loan losses | 24,360 | 24,020 | |
Loans and receivable, net | 1,970,499 | 1,961,369 | |
Agricultural [Member] | |||
Summary of classes of loans (abstract) | |||
Loans and receivable | 88,574 | 97,645 | 88,218 |
Commercial and financial [Member] | |||
Summary of classes of loans (abstract) | |||
Loans and receivable | 180,392 | 174,738 | 162,855 |
Real Estate: Construction, 1 to 4 family residential [Member] | |||
Summary of classes of loans (abstract) | |||
Loans and receivable | 50,541 | 45,949 | |
Real Estate: Construction, land development and commercial [Member] | |||
Summary of classes of loans (abstract) | |||
Loans and receivable | 76,003 | 77,020 | |
Real Estate: Mortgage, farmland [Member] | |||
Summary of classes of loans (abstract) | |||
Loans and receivable | 169,058 | 162,503 | 145,620 |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Summary of classes of loans (abstract) | |||
Loans and receivable | 678,054 | 672,674 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Summary of classes of loans (abstract) | |||
Loans and receivable | 110,728 | 110,284 | |
Real Estate: Mortgage, multi-family [Member] | |||
Summary of classes of loans (abstract) | |||
Loans and receivable | 243,441 | 245,213 | |
Real Estate: Mortgage, commercial [Member] | |||
Summary of classes of loans (abstract) | |||
Loans and receivable | 321,216 | 321,601 | |
Loans to individuals [Member] | |||
Summary of classes of loans (abstract) | |||
Loans and receivable | 21,003 | 21,342 | |
Obligations of state and political subdivisions [Member] | |||
Summary of classes of loans (abstract) | |||
Loans and receivable | $55,160 | $55,729 |
Loans_Allowance_For_Credit_Los
Loans, Allowance For Credit Losses (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | $24,020 | $25,550 | |
Charge-offs | -767 | -526 | |
Recoveries | 1,169 | 791 | |
Provision | -62 | 45 | |
Ending balance | 24,360 | 25,860 | |
Ending balance, individually evaluated for impairment | 155 | 297 | |
Ending balance, collectively evaluated for impairment | 24,205 | 25,563 | |
Loan [Abstract] | |||
Total Loans Receivable | 1,994,170 | 1,850,184 | 1,984,698 |
Ending balance, individually evaluated for impairment | 20,648 | 26,185 | |
Ending balance, collectively evaluated for impairment | 1,973,522 | 1,823,999 | |
Agricultural [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 2,515 | 2,852 | |
Charge-offs | -43 | -100 | |
Recoveries | 82 | 3 | |
Provision | -10 | 1,307 | |
Ending balance | 2,544 | 4,062 | |
Ending balance, individually evaluated for impairment | 13 | 3 | |
Ending balance, collectively evaluated for impairment | 2,531 | 4,059 | |
Loan [Abstract] | |||
Total Loans Receivable | 88,574 | 88,218 | 97,645 |
Ending balance, individually evaluated for impairment | 1,851 | 274 | |
Ending balance, collectively evaluated for impairment | 86,723 | 87,944 | |
Commercial and Financial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 4,231 | 4,733 | |
Charge-offs | -66 | -84 | |
Recoveries | 401 | 350 | |
Provision | -208 | -480 | |
Ending balance | 4,358 | 4,519 | |
Ending balance, individually evaluated for impairment | 7 | 14 | |
Ending balance, collectively evaluated for impairment | 4,351 | 4,505 | |
Loan [Abstract] | |||
Total Loans Receivable | 180,392 | 162,855 | 174,738 |
Ending balance, individually evaluated for impairment | 2,284 | 2,669 | |
Ending balance, collectively evaluated for impairment | 178,108 | 160,186 | |
Real Estate: Construction and land development [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 2,241 | 2,918 | |
Charge-offs | -84 | -2 | |
Recoveries | 151 | 186 | |
Provision | -58 | -141 | |
Ending balance | 2,250 | 2,961 | |
Ending balance, individually evaluated for impairment | 33 | 14 | |
Ending balance, collectively evaluated for impairment | 2,217 | 2,947 | |
Loan [Abstract] | |||
Total Loans Receivable | 126,544 | 99,830 | |
Ending balance, individually evaluated for impairment | 954 | 1,285 | |
Ending balance, collectively evaluated for impairment | 125,590 | 98,545 | |
Real Estate: Mortgage, farmland [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 2,672 | 2,557 | |
Charge-offs | 0 | 0 | |
Recoveries | 6 | 0 | |
Provision | 99 | 225 | |
Ending balance | 2,777 | 2,782 | |
Ending balance, individually evaluated for impairment | 26 | 0 | |
Ending balance, collectively evaluated for impairment | 2,751 | 2,782 | |
Loan [Abstract] | |||
Total Loans Receivable | 169,058 | 145,620 | 162,503 |
Ending balance, individually evaluated for impairment | 2,464 | 284 | |
Ending balance, collectively evaluated for impairment | 166,594 | 145,336 | |
Real Estate: Mortgage, 1 to 4 family [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 7,419 | 7,064 | |
Charge-offs | -347 | -307 | |
Recoveries | 413 | 179 | |
Provision | -29 | -315 | |
Ending balance | 7,456 | 6,621 | |
Ending balance, individually evaluated for impairment | 68 | 58 | |
Ending balance, collectively evaluated for impairment | 7,388 | 6,563 | |
Loan [Abstract] | |||
Total Loans Receivable | 788,782 | 715,688 | |
Ending balance, individually evaluated for impairment | 3,559 | 4,011 | |
Ending balance, collectively evaluated for impairment | 785,223 | 711,677 | |
Real Estate: Mortgage, multi-family and commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 4,195 | 4,787 | |
Charge-offs | -179 | 0 | |
Recoveries | 70 | 41 | |
Provision | 39 | -564 | |
Ending balance | 4,125 | 4,264 | |
Ending balance, individually evaluated for impairment | 8 | 208 | |
Ending balance, collectively evaluated for impairment | 4,117 | 4,056 | |
Loan [Abstract] | |||
Total Loans Receivable | 564,657 | 564,919 | |
Ending balance, individually evaluated for impairment | 9,536 | 17,662 | |
Ending balance, collectively evaluated for impairment | 555,121 | 547,257 | |
Others [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 747 | 639 | |
Charge-offs | -48 | -33 | |
Recoveries | 46 | 32 | |
Provision | 105 | 13 | |
Ending balance | 850 | 651 | |
Ending balance, individually evaluated for impairment | 0 | 0 | |
Ending balance, collectively evaluated for impairment | 850 | 651 | |
Loan [Abstract] | |||
Total Loans Receivable | 76,163 | 73,054 | |
Ending balance, individually evaluated for impairment | 0 | 0 | |
Ending balance, collectively evaluated for impairment | $76,163 | $73,054 |
Loans_Credit_Quality_Indicator
Loans, Credit Quality Indicators (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | $1,994,170 | $1,984,698 | $1,850,184 |
Excellent [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 33,947 | 34,766 | |
Good [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 322,248 | 338,238 | |
Satisfactory [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 1,326,669 | 1,315,413 | |
Monitor [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 162,832 | 165,098 | |
Special Mention [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 108,396 | 89,856 | |
Substandard [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 40,078 | 41,327 | |
Agricultural [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 88,574 | 97,645 | 88,218 |
Agricultural [Member] | Excellent [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 1,270 | 1,375 | |
Agricultural [Member] | Good [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 12,913 | 13,214 | |
Agricultural [Member] | Satisfactory [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 37,680 | 51,107 | |
Agricultural [Member] | Monitor [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 11,883 | 15,243 | |
Agricultural [Member] | Special Mention [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 22,156 | 13,070 | |
Agricultural [Member] | Substandard [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 2,672 | 3,636 | |
Commercial and Financial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 180,392 | 174,738 | 162,855 |
Commercial and Financial [Member] | Excellent [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 4,428 | 4,820 | |
Commercial and Financial [Member] | Good [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 29,593 | 37,941 | |
Commercial and Financial [Member] | Satisfactory [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 107,829 | 94,158 | |
Commercial and Financial [Member] | Monitor [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 21,105 | 20,445 | |
Commercial and Financial [Member] | Special Mention [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 12,009 | 11,031 | |
Commercial and Financial [Member] | Substandard [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 5,428 | 6,343 | |
Real Estate: Construction, 1 to 4 family residential [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 50,541 | 45,949 | |
Real Estate: Construction, 1 to 4 family residential [Member] | Excellent [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 0 | 0 | |
Real Estate: Construction, 1 to 4 family residential [Member] | Good [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 7,011 | 6,893 | |
Real Estate: Construction, 1 to 4 family residential [Member] | Satisfactory [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 30,039 | 27,738 | |
Real Estate: Construction, 1 to 4 family residential [Member] | Monitor [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 8,729 | 8,435 | |
Real Estate: Construction, 1 to 4 family residential [Member] | Special Mention [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 3,586 | 1,881 | |
Real Estate: Construction, 1 to 4 family residential [Member] | Substandard [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 1,176 | 1,002 | |
Real Estate: Construction, land development and commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 76,003 | 77,020 | |
Real Estate: Construction, land development and commercial [Member] | Excellent [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 271 | 276 | |
Real Estate: Construction, land development and commercial [Member] | Good [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 16,109 | 13,875 | |
Real Estate: Construction, land development and commercial [Member] | Satisfactory [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 44,116 | 47,852 | |
Real Estate: Construction, land development and commercial [Member] | Monitor [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 3,652 | 2,811 | |
Real Estate: Construction, land development and commercial [Member] | Special Mention [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 11,658 | 11,870 | |
Real Estate: Construction, land development and commercial [Member] | Substandard [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 197 | 336 | |
Real Estate: Mortgage, farmland [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 169,058 | 162,503 | 145,620 |
Real Estate: Mortgage, farmland [Member] | Excellent [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 2,701 | 2,867 | |
Real Estate: Mortgage, farmland [Member] | Good [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 34,038 | 36,680 | |
Real Estate: Mortgage, farmland [Member] | Satisfactory [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 105,477 | 103,552 | |
Real Estate: Mortgage, farmland [Member] | Monitor [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 12,233 | 11,754 | |
Real Estate: Mortgage, farmland [Member] | Special Mention [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 11,119 | 4,721 | |
Real Estate: Mortgage, farmland [Member] | Substandard [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 3,490 | 2,929 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 678,054 | 672,674 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | Excellent [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 464 | 474 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | Good [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 21,627 | 22,094 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | Satisfactory [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 575,973 | 571,546 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | Monitor [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 43,324 | 41,805 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | Special Mention [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 18,082 | 18,428 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | Substandard [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 18,584 | 18,327 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 110,728 | 110,284 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | Excellent [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 0 | 0 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | Good [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 3,166 | 2,875 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | Satisfactory [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 99,103 | 99,095 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | Monitor [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 3,963 | 3,377 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | Special Mention [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 2,425 | 2,520 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | Substandard [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 2,071 | 2,417 | |
Real Estate: Mortgage, multi-family [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 243,441 | 245,213 | |
Real Estate: Mortgage, multi-family [Member] | Excellent [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 6,925 | 7,011 | |
Real Estate: Mortgage, multi-family [Member] | Good [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 72,585 | 73,852 | |
Real Estate: Mortgage, multi-family [Member] | Satisfactory [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 111,397 | 111,650 | |
Real Estate: Mortgage, multi-family [Member] | Monitor [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 35,196 | 35,812 | |
Real Estate: Mortgage, multi-family [Member] | Special Mention [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 16,972 | 16,611 | |
Real Estate: Mortgage, multi-family [Member] | Substandard [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 366 | 277 | |
Real Estate: Mortgage, commercial [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 321,216 | 321,601 | |
Real Estate: Mortgage, commercial [Member] | Excellent [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 15,466 | 15,416 | |
Real Estate: Mortgage, commercial [Member] | Good [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 82,434 | 87,612 | |
Real Estate: Mortgage, commercial [Member] | Satisfactory [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 184,925 | 178,069 | |
Real Estate: Mortgage, commercial [Member] | Monitor [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 22,407 | 25,165 | |
Real Estate: Mortgage, commercial [Member] | Special Mention [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 10,076 | 9,371 | |
Real Estate: Mortgage, commercial [Member] | Substandard [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 5,908 | 5,968 | |
Loans to individuals [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 21,003 | 21,342 | |
Loans to individuals [Member] | Excellent [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 0 | 87 | |
Loans to individuals [Member] | Good [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 95 | 94 | |
Loans to individuals [Member] | Satisfactory [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 20,095 | 20,465 | |
Loans to individuals [Member] | Monitor [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 340 | 251 | |
Loans to individuals [Member] | Special Mention [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 287 | 353 | |
Loans to individuals [Member] | Substandard [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 186 | 92 | |
Obligations of state and political subdivisions [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 55,160 | 55,729 | |
Obligations of state and political subdivisions [Member] | Excellent [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 2,422 | 2,440 | |
Obligations of state and political subdivisions [Member] | Good [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 42,677 | 43,108 | |
Obligations of state and political subdivisions [Member] | Satisfactory [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 10,035 | 10,181 | |
Obligations of state and political subdivisions [Member] | Monitor [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 0 | 0 | |
Obligations of state and political subdivisions [Member] | Special Mention [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | 26 | 0 | |
Obligations of state and political subdivisions [Member] | Substandard [Member] | |||
Summary of credit quality indicators by type of loans [Abstract] | |||
Loans and receivable | $0 | $0 |
Loans_Past_Due_Receivables_Det
Loans, Past Due Receivables (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Schedule of past due loans [Abstract] | |||
30 - 59 Days Past Due | $11,628 | $6,558 | |
60 - 89 Days Past Due | 588 | 2,359 | |
90 Days or More Past Due | 1,269 | 2,908 | |
Total Past Due | 13,485 | 11,825 | |
Current | 1,980,685 | 1,972,873 | |
Total Loans Receivable | 1,994,170 | 1,984,698 | 1,850,184 |
Accruing Loans Past Due 90 Days or More | 0 | 348 | |
Agricultural [Member] | |||
Schedule of past due loans [Abstract] | |||
30 - 59 Days Past Due | 1,797 | 310 | |
60 - 89 Days Past Due | 0 | 99 | |
90 Days or More Past Due | 70 | 0 | |
Total Past Due | 1,867 | 409 | |
Current | 86,707 | 97,236 | |
Total Loans Receivable | 88,574 | 97,645 | 88,218 |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Commercial and Financial [Member] | |||
Schedule of past due loans [Abstract] | |||
30 - 59 Days Past Due | 1,662 | 397 | |
60 - 89 Days Past Due | 0 | 14 | |
90 Days or More Past Due | 208 | 1,048 | |
Total Past Due | 1,870 | 1,459 | |
Current | 178,522 | 173,279 | |
Total Loans Receivable | 180,392 | 174,738 | 162,855 |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Real Estate: Construction, 1 to 4 family residential [Member] | |||
Schedule of past due loans [Abstract] | |||
30 - 59 Days Past Due | 276 | 0 | |
60 - 89 Days Past Due | 0 | 0 | |
90 Days or More Past Due | 199 | 0 | |
Total Past Due | 475 | 0 | |
Current | 50,066 | 45,949 | |
Total Loans Receivable | 50,541 | 45,949 | |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Real Estate: Construction, land development and commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
30 - 59 Days Past Due | 1,136 | 937 | |
60 - 89 Days Past Due | 74 | 0 | |
90 Days or More Past Due | 0 | 0 | |
Total Past Due | 1,210 | 937 | |
Current | 74,793 | 76,083 | |
Total Loans Receivable | 76,003 | 77,020 | |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Real Estate: Mortgage, farmland [Member] | |||
Schedule of past due loans [Abstract] | |||
30 - 59 Days Past Due | 0 | 753 | |
60 - 89 Days Past Due | 0 | 0 | |
90 Days or More Past Due | 0 | 0 | |
Total Past Due | 0 | 753 | |
Current | 169,058 | 161,750 | |
Total Loans Receivable | 169,058 | 162,503 | 145,620 |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | |||
Schedule of past due loans [Abstract] | |||
30 - 59 Days Past Due | 4,273 | 3,594 | |
60 - 89 Days Past Due | 271 | 1,656 | |
90 Days or More Past Due | 759 | 1,582 | |
Total Past Due | 5,303 | 6,832 | |
Current | 672,751 | 665,842 | |
Total Loans Receivable | 678,054 | 672,674 | |
Accruing Loans Past Due 90 Days or More | 0 | 348 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | |||
Schedule of past due loans [Abstract] | |||
30 - 59 Days Past Due | 172 | 181 | |
60 - 89 Days Past Due | 16 | 12 | |
90 Days or More Past Due | 0 | 244 | |
Total Past Due | 188 | 437 | |
Current | 110,540 | 109,847 | |
Total Loans Receivable | 110,728 | 110,284 | |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Real Estate: Mortgage, multi-family [Member] | |||
Schedule of past due loans [Abstract] | |||
30 - 59 Days Past Due | 821 | 0 | |
60 - 89 Days Past Due | 0 | 21 | |
90 Days or More Past Due | 0 | 0 | |
Total Past Due | 821 | 21 | |
Current | 242,620 | 245,192 | |
Total Loans Receivable | 243,441 | 245,213 | |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Real Estate: Mortgage, commercial [Member] | |||
Schedule of past due loans [Abstract] | |||
30 - 59 Days Past Due | 1,463 | 359 | |
60 - 89 Days Past Due | 227 | 557 | |
90 Days or More Past Due | 33 | 34 | |
Total Past Due | 1,723 | 950 | |
Current | 319,493 | 320,651 | |
Total Loans Receivable | 321,216 | 321,601 | |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Loans to individuals [Member] | |||
Schedule of past due loans [Abstract] | |||
30 - 59 Days Past Due | 28 | 27 | |
60 - 89 Days Past Due | 0 | 0 | |
90 Days or More Past Due | 0 | 0 | |
Total Past Due | 28 | 27 | |
Current | 20,975 | 21,315 | |
Total Loans Receivable | 21,003 | 21,342 | |
Accruing Loans Past Due 90 Days or More | 0 | 0 | |
Obligations of state and political subdivisions [Member] | |||
Schedule of past due loans [Abstract] | |||
30 - 59 Days Past Due | 0 | 0 | |
60 - 89 Days Past Due | 0 | 0 | |
90 Days or More Past Due | 0 | 0 | |
Total Past Due | 0 | 0 | |
Current | 55,160 | 55,729 | |
Total Loans Receivable | 55,160 | 55,729 | |
Accruing Loans Past Due 90 Days or More | $0 | $0 |
Loans_Impaired_Financing_Recei
Loans, Impaired Financing Receivable Loan Type (Details) (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Dec. 31, 2014 | |||
Summary of certain impaired loan information [Abstract] | ||||
Non-accrual loans | $6,425,000 | [1] | $6,081,000 | [1] |
Accruing loans past due 90 days or more | 0 | 348,000 | ||
TDR loans | 14,223,000 | 14,340,000 | ||
Decrease in accruing loans past due 90 days or more creased | 350,000 | |||
Average 90 days or more past due loan balance | 70,000 | |||
Agricultural [Member] | ||||
Summary of certain impaired loan information [Abstract] | ||||
Non-accrual loans | 70,000 | [1] | 0 | [1] |
Accruing loans past due 90 days or more | 0 | 0 | ||
TDR loans | 1,781,000 | 1,942,000 | ||
Commercial and financial [Member] | ||||
Summary of certain impaired loan information [Abstract] | ||||
Non-accrual loans | 1,402,000 | [1] | 1,343,000 | [1] |
Accruing loans past due 90 days or more | 0 | 0 | ||
TDR loans | 882,000 | 1,366,000 | ||
Real Estate: Construction, 1 to 4 family residential [Member] | ||||
Summary of certain impaired loan information [Abstract] | ||||
Non-accrual loans | 503,000 | [1] | 0 | [1] |
Accruing loans past due 90 days or more | 0 | 0 | ||
TDR loans | 326,000 | 431,000 | ||
Real Estate: Construction, land development and commercial [Member] | ||||
Summary of certain impaired loan information [Abstract] | ||||
Non-accrual loans | 0 | [1] | 127,000 | [1] |
Accruing loans past due 90 days or more | 0 | 0 | ||
TDR loans | 125,000 | 0 | ||
Real Estate: Mortgage, farmland [Member] | ||||
Summary of certain impaired loan information [Abstract] | ||||
Non-accrual loans | 0 | [1] | 0 | [1] |
Accruing loans past due 90 days or more | 0 | 0 | ||
TDR loans | 2,464,000 | 2,220,000 | ||
Real Estate: Mortgage, 1 to 4 family first liens [Member] | ||||
Summary of certain impaired loan information [Abstract] | ||||
Non-accrual loans | 2,060,000 | [1] | 1,912,000 | [1] |
Accruing loans past due 90 days or more | 0 | 348,000 | ||
TDR loans | 1,343,000 | 1,199,000 | ||
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | ||||
Summary of certain impaired loan information [Abstract] | ||||
Non-accrual loans | 129,000 | [1] | 369,000 | [1] |
Accruing loans past due 90 days or more | 0 | 0 | ||
TDR loans | 27,000 | 0 | ||
Real Estate: Mortgage, multi-family [Member] | ||||
Summary of certain impaired loan information [Abstract] | ||||
Non-accrual loans | 148,000 | [1] | 55,000 | [1] |
Accruing loans past due 90 days or more | 0 | 0 | ||
TDR loans | 5,436,000 | 5,470,000 | ||
Real Estate: Mortgage, commercial [Member] | ||||
Summary of certain impaired loan information [Abstract] | ||||
Non-accrual loans | 2,113,000 | [1] | 2,275,000 | [1] |
Accruing loans past due 90 days or more | 0 | 0 | ||
TDR loans | 1,839,000 | 1,712,000 | ||
Loans to individuals [Member] | ||||
Summary of certain impaired loan information [Abstract] | ||||
Non-accrual loans | 0 | [1] | 0 | [1] |
Accruing loans past due 90 days or more | 0 | 0 | ||
TDR loans | 0 | 0 | ||
Troubled Debt Restructuring [Member] | ||||
Summary of certain impaired loan information [Abstract] | ||||
TDR Loans included within nonaccrual loans | $2,070,000 | $2,140,000 | ||
[1] | There were $2.07 million and $2.14 million of TDR loans included within nonaccrual loans as of MarchB 31, 2015 and DecemberB 31, 2014, respectively. |
Loans_Troubled_Debt_Restructur
Loans, Troubled Debt Restructuring (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
contract | contract | |
Summary of information for TDR loans [Abstract] | ||
Number of contracts | 54 | 52 |
Recorded investment | $16,300,000 | $16,482,000 |
Commitments outstanding | 273,000 | 501,000 |
Summary of troubled debt restructuring loans were modified [Abstract] | ||
Number of Contracts | 10 | |
Pre-modification recorded investment | 1,357,000 | |
Post-modification recorded investment | 1,198,000 | |
Commitments to lend additional borrowings to restructured loan customers | 270,000 | 500,000 |
TDR loans default payment | 260,000 | 0 |
Agricultural [Member] | ||
Summary of information for TDR loans [Abstract] | ||
Number of contracts | 8 | 9 |
Recorded investment | 1,782,000 | 1,942,000 |
Commitments outstanding | 130,000 | 272,000 |
Summary of troubled debt restructuring loans were modified [Abstract] | ||
Number of Contracts | 3 | |
Pre-modification recorded investment | 160,000 | |
Commercial and Financial [Member] | ||
Summary of information for TDR loans [Abstract] | ||
Number of contracts | 12 | 13 |
Recorded investment | 1,844,000 | 2,202,000 |
Commitments outstanding | 87,000 | 53,000 |
Summary of troubled debt restructuring loans were modified [Abstract] | ||
Number of Contracts | 1 | |
Pre-modification recorded investment | 191,000 | |
Real Estate: Construction, 1 to 4 family residential [Member] | ||
Summary of information for TDR loans [Abstract] | ||
Number of contracts | 3 | 3 |
Recorded investment | 499,000 | 431,000 |
Commitments outstanding | 11,000 | 111,000 |
Summary of troubled debt restructuring loans were modified [Abstract] | ||
Number of Contracts | 0 | |
Pre-modification recorded investment | 0 | |
Post-modification recorded investment | 0 | |
TDR loans default payment | 170,000 | |
Real Estate: Construction, land development and commercial [Member] | ||
Summary of information for TDR loans [Abstract] | ||
Number of contracts | 1 | 1 |
Recorded investment | 135,000 | 127,000 |
Commitments outstanding | 0 | 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | ||
Number of Contracts | 0 | |
Pre-modification recorded investment | 0 | |
Post-modification recorded investment | 0 | |
Real Estate: Mortgage, farmland [Member] | ||
Summary of information for TDR loans [Abstract] | ||
Number of contracts | 6 | 4 |
Recorded investment | 2,464,000 | 2,220,000 |
Commitments outstanding | 0 | 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | ||
Number of Contracts | 3 | |
Pre-modification recorded investment | 644,000 | |
Post-modification recorded investment | 531,000 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | ||
Summary of information for TDR loans [Abstract] | ||
Number of contracts | 12 | 11 |
Recorded investment | 1,608,000 | 1,467,000 |
Commitments outstanding | 45,000 | 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | ||
Number of Contracts | 1 | |
Pre-modification recorded investment | 157,000 | |
Post-modification recorded investment | 157,000 | |
TDR loans default payment | 90,000 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | ||
Summary of information for TDR loans [Abstract] | ||
Number of contracts | 1 | 1 |
Recorded investment | 27,000 | 225,000 |
Commitments outstanding | 0 | 65,000 |
Summary of troubled debt restructuring loans were modified [Abstract] | ||
Number of Contracts | 1 | |
Pre-modification recorded investment | 27,000 | |
Real Estate: Mortgage, multi-family [Member] | ||
Summary of information for TDR loans [Abstract] | ||
Number of contracts | 2 | 2 |
Recorded investment | 5,436,000 | 5,470,000 |
Commitments outstanding | 0 | 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | ||
Number of Contracts | 0 | |
Pre-modification recorded investment | 0 | |
Post-modification recorded investment | 0 | |
Real Estate: Mortgage, commercial [Member] | ||
Summary of information for TDR loans [Abstract] | ||
Number of contracts | 9 | 8 |
Recorded investment | 2,505,000 | 2,398,000 |
Commitments outstanding | 0 | 0 |
Summary of troubled debt restructuring loans were modified [Abstract] | ||
Number of Contracts | 1 | |
Pre-modification recorded investment | 178,000 | |
Loans to individuals [Member] | ||
Summary of information for TDR loans [Abstract] | ||
Number of contracts | 0 | 0 |
Recorded investment | 0 | 0 |
Commitments outstanding | $0 | $0 |
Loans_Impaired_Financing_Recei1
Loans, Impaired Financing Receivables Activity (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Recorded Investment [Abstract] | ||
With no related allowance recorded | $18,062,000 | $18,102,000 |
With an allowance recorded | 2,586,000 | 2,667,000 |
Total impaired loans | 20,648,000 | 20,769,000 |
Unpaid Principal Balance [Abstract] | ||
With no related allowance recorded | 22,442,000 | 22,358,000 |
With an allowance recorded | 2,597,000 | 2,805,000 |
Total | 25,039,000 | 25,163,000 |
Related Allowance [Abstract] | ||
With no related allowance recorded | 0 | 0 |
With an allowance recorded | 155,000 | 154,000 |
Total | 155,000 | 154,000 |
Average Recorded Investment [Abstract] | ||
With no related allowance recorded | 18,242,000 | |
Total | 20,845,000 | |
Interest Income Recognized [Abstract] | ||
With no related allowance recorded | 140,000 | |
With an allowance recorded | 26,000 | |
Total | 166,000 | |
Impaired loans decrease | 120,000 | |
Percentages of impaired loans to loans held for investment (in hundredths) | 1.04% | 1.05% |
Increase in TDR Loans | 350,000 | |
Prior period within which impairment is being measured | 1 year | |
Number of period within which average appraisals obtained | 1 month | |
Agricultural [Member] | ||
Recorded Investment [Abstract] | ||
With no related allowance recorded | 1,683,000 | 1,634,000 |
With an allowance recorded | 168,000 | 210,000 |
Total impaired loans | 1,851,000 | 1,844,000 |
Unpaid Principal Balance [Abstract] | ||
With no related allowance recorded | 1,709,000 | 1,696,000 |
With an allowance recorded | 168,000 | 247,000 |
Total | 1,877,000 | 1,943,000 |
Related Allowance [Abstract] | ||
With no related allowance recorded | 0 | 0 |
With an allowance recorded | 13,000 | 44,000 |
Total | 13,000 | 44,000 |
Average Recorded Investment [Abstract] | ||
With no related allowance recorded | 1,576,000 | |
Total | 1,746,000 | |
Interest Income Recognized [Abstract] | ||
With no related allowance recorded | 18,000 | |
With an allowance recorded | 2,000 | |
Total | 20,000 | |
Commercial and Financial [Member] | ||
Recorded Investment [Abstract] | ||
With no related allowance recorded | 1,678,000 | 2,076,000 |
With an allowance recorded | 606,000 | 633,000 |
Total impaired loans | 2,284,000 | 2,709,000 |
Unpaid Principal Balance [Abstract] | ||
With no related allowance recorded | 3,197,000 | 3,695,000 |
With an allowance recorded | 606,000 | 633,000 |
Total | 3,803,000 | 4,328,000 |
Related Allowance [Abstract] | ||
With no related allowance recorded | 0 | 0 |
With an allowance recorded | 7,000 | 9,000 |
Total | 7,000 | 9,000 |
Average Recorded Investment [Abstract] | ||
With no related allowance recorded | 1,724,000 | |
With an allowance recorded | 620,000 | |
Total | 2,344,000 | |
Interest Income Recognized [Abstract] | ||
With no related allowance recorded | 4,000 | |
With an allowance recorded | 8,000 | |
Total | 12,000 | |
Real Estate: Construction, 1 to 4 family residential [Member] | ||
Recorded Investment [Abstract] | ||
With no related allowance recorded | 183,000 | 89,000 |
With an allowance recorded | 646,000 | 343,000 |
Total impaired loans | 829,000 | 432,000 |
Unpaid Principal Balance [Abstract] | ||
With no related allowance recorded | 244,000 | 89,000 |
With an allowance recorded | 658,000 | 354,000 |
Total | 902,000 | 443,000 |
Related Allowance [Abstract] | ||
With no related allowance recorded | 0 | 0 |
With an allowance recorded | 33,000 | 28,000 |
Total | 33,000 | 28,000 |
Average Recorded Investment [Abstract] | ||
With no related allowance recorded | 179,000 | |
With an allowance recorded | 646,000 | |
Total | 825,000 | |
Interest Income Recognized [Abstract] | ||
With no related allowance recorded | 1,000 | |
With an allowance recorded | 2,000 | |
Total | 3,000 | |
Real Estate: Construction, land development and commercial [Member] | ||
Recorded Investment [Abstract] | ||
With no related allowance recorded | 125,000 | 128,000 |
With an allowance recorded | 0 | 0 |
Total impaired loans | 125,000 | 128,000 |
Unpaid Principal Balance [Abstract] | ||
With no related allowance recorded | 220,000 | 220,000 |
With an allowance recorded | 0 | 0 |
Total | 220,000 | 220,000 |
Related Allowance [Abstract] | ||
With no related allowance recorded | 0 | 0 |
With an allowance recorded | 0 | 0 |
Total | 0 | 0 |
Average Recorded Investment [Abstract] | ||
With no related allowance recorded | 126,000 | |
Total | 126,000 | |
Interest Income Recognized [Abstract] | ||
With no related allowance recorded | 1,000 | |
With an allowance recorded | 0 | |
Total | 1,000 | |
Real Estate: Mortgage, farmland [Member] | ||
Recorded Investment [Abstract] | ||
With no related allowance recorded | 2,332,000 | 2,040,000 |
With an allowance recorded | 132,000 | 278,000 |
Total impaired loans | 2,464,000 | 2,318,000 |
Unpaid Principal Balance [Abstract] | ||
With no related allowance recorded | 2,445,000 | 2,040,000 |
With an allowance recorded | 132,000 | 278,000 |
Total | 2,577,000 | 2,318,000 |
Related Allowance [Abstract] | ||
With no related allowance recorded | 0 | 0 |
With an allowance recorded | 26,000 | 12,000 |
Total | 26,000 | 12,000 |
Average Recorded Investment [Abstract] | ||
With no related allowance recorded | 2,354,000 | |
Total | 2,486,000 | |
Interest Income Recognized [Abstract] | ||
With no related allowance recorded | 28,000 | |
With an allowance recorded | 2,000 | |
Total | 30,000 | |
Real Estate: Mortgage, 1 to 4 family first liens [Member] | ||
Recorded Investment [Abstract] | ||
With no related allowance recorded | 3,089,000 | 2,951,000 |
With an allowance recorded | 314,000 | 506,000 |
Total impaired loans | 3,403,000 | 3,457,000 |
Unpaid Principal Balance [Abstract] | ||
With no related allowance recorded | 3,769,000 | 3,705,000 |
With an allowance recorded | 313,000 | 596,000 |
Total | 4,082,000 | 4,301,000 |
Related Allowance [Abstract] | ||
With no related allowance recorded | 0 | 0 |
With an allowance recorded | 63,000 | 52,000 |
Total | 63,000 | 52,000 |
Average Recorded Investment [Abstract] | ||
With no related allowance recorded | 3,175,000 | |
Total | 3,488,000 | |
Interest Income Recognized [Abstract] | ||
With no related allowance recorded | 12,000 | |
With an allowance recorded | 3,000 | |
Total | 15,000 | |
Real Estate: Mortgage, 1 to 4 family junior liens [Member] | ||
Recorded Investment [Abstract] | ||
With no related allowance recorded | 129,000 | 369,000 |
With an allowance recorded | 27,000 | 0 |
Total impaired loans | 156,000 | 369,000 |
Unpaid Principal Balance [Abstract] | ||
With no related allowance recorded | 426,000 | 673,000 |
With an allowance recorded | 27,000 | 0 |
Total | 453,000 | 673,000 |
Related Allowance [Abstract] | ||
With no related allowance recorded | 0 | 0 |
With an allowance recorded | 5,000 | 0 |
Total | 5,000 | 0 |
Average Recorded Investment [Abstract] | ||
With no related allowance recorded | 136,000 | |
Total | 163,000 | |
Interest Income Recognized [Abstract] | ||
With no related allowance recorded | 0 | |
With an allowance recorded | 0 | |
Total | 0 | |
Real Estate: Mortgage, multi-family [Member] | ||
Recorded Investment [Abstract] | ||
With no related allowance recorded | 5,584,000 | 5,525,000 |
With an allowance recorded | 0 | 0 |
Total impaired loans | 5,584,000 | 5,525,000 |
Unpaid Principal Balance [Abstract] | ||
With no related allowance recorded | 5,677,000 | 5,632,000 |
With an allowance recorded | 0 | 0 |
Total | 5,677,000 | 5,632,000 |
Related Allowance [Abstract] | ||
With no related allowance recorded | 0 | 0 |
With an allowance recorded | 0 | 0 |
Total | 0 | 0 |
Average Recorded Investment [Abstract] | ||
With no related allowance recorded | 5,609,000 | |
Total | 5,609,000 | |
Interest Income Recognized [Abstract] | ||
With no related allowance recorded | 61,000 | |
With an allowance recorded | 0 | |
Total | 61,000 | |
Real Estate: Mortgage, commercial [Member] | ||
Recorded Investment [Abstract] | ||
With no related allowance recorded | 3,259,000 | 3,290,000 |
With an allowance recorded | 693,000 | 697,000 |
Total impaired loans | 3,952,000 | 3,987,000 |
Unpaid Principal Balance [Abstract] | ||
With no related allowance recorded | 4,735,000 | 4,588,000 |
With an allowance recorded | 693,000 | 697,000 |
Total | 5,428,000 | 5,285,000 |
Related Allowance [Abstract] | ||
With no related allowance recorded | 0 | 0 |
With an allowance recorded | 8,000 | 9,000 |
Total | 8,000 | 9,000 |
Average Recorded Investment [Abstract] | ||
With no related allowance recorded | 3,363,000 | |
With an allowance recorded | 695,000 | |
Total | 4,058,000 | |
Interest Income Recognized [Abstract] | ||
With no related allowance recorded | 15,000 | |
With an allowance recorded | 9,000 | |
Total | 24,000 | |
Loans to individuals [Member] | ||
Recorded Investment [Abstract] | ||
With no related allowance recorded | 0 | 0 |
With an allowance recorded | 0 | 0 |
Total impaired loans | 0 | 0 |
Unpaid Principal Balance [Abstract] | ||
With no related allowance recorded | 20,000 | 20,000 |
With an allowance recorded | 0 | 0 |
Total | 20,000 | 20,000 |
Related Allowance [Abstract] | ||
With no related allowance recorded | 0 | 0 |
With an allowance recorded | 0 | 0 |
Total | 0 | 0 |
Average Recorded Investment [Abstract] | ||
With no related allowance recorded | 0 | |
With an allowance recorded | 0 | |
Total | 0 | |
Interest Income Recognized [Abstract] | ||
With no related allowance recorded | 0 | |
With an allowance recorded | 0 | |
Total | $0 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | ||
In Thousands, unless otherwise specified | ||||
Readily Available Market Prices [Member] | ||||
Financial instrument assets: | ||||
Cash and cash equivalents | $83,345 | [1] | $29,174 | [2] |
Investment securities | 0 | [1] | 0 | [2] |
Loans held for sale | 0 | [1] | 0 | [2] |
Loans | ||||
Agricultural | 0 | [1] | 0 | [2] |
Commercial and financial | 0 | [1] | 0 | [2] |
Real estate: | ||||
Construction, 1 to 4 family residential | 0 | [1] | 0 | [2] |
Construction, land development and commercial | 0 | [1] | 0 | [2] |
Mortgage, farmland | 0 | [1] | 0 | [2] |
Mortgage, 1 to 4 family first liens | 0 | [1] | 0 | [2] |
Mortgage, 1 to 4 family junior liens | 0 | [1] | 0 | [2] |
Mortgage, multi-family | 0 | [1] | 0 | [2] |
Mortgage, commercial | 0 | [1] | 0 | [2] |
Loans to individuals | 0 | [1] | 0 | [2] |
Obligations of state and political subdivisions | 0 | [1] | 0 | [2] |
Accrued interest receivable | 0 | [1] | 0 | [2] |
Total financial instrument assets | 83,345 | [1] | 29,174 | [2] |
Deposits | ||||
Noninterest-bearing deposits | 0 | [1] | 0 | [2] |
Interest-bearing deposits | 0 | [1] | 0 | [2] |
Other borrowings | 0 | [1] | 0 | [2] |
Federal Home Loan Bank borrowings | 0 | [1] | 0 | [2] |
Interest rate swaps | 0 | [1] | 0 | [2] |
Accrued interest payable | 0 | [1] | 0 | [2] |
Total financial instrument liabilities | 0 | [1] | 0 | [2] |
Financial instrument with off-balance sheet risk: | ||||
Loan commitments | 0 | [1] | 0 | [2] |
Letters of credit | 0 | [1] | 0 | [2] |
Total financial instrument liabilities with off-balance-sheet risk | 0 | [1] | 0 | [2] |
Observable Market Prices [Member] | ||||
Financial instrument assets: | ||||
Cash and cash equivalents | 0 | [3] | 0 | [3] |
Investment securities | 268,324 | [3] | 267,240 | [3] |
Loans held for sale | 8,311 | [3] | 4,476 | [3] |
Loans | ||||
Agricultural | 0 | [3] | 0 | [3] |
Commercial and financial | 0 | [3] | 0 | [3] |
Real estate: | ||||
Construction, 1 to 4 family residential | 0 | [3] | 0 | [3] |
Construction, land development and commercial | 0 | [3] | 0 | [3] |
Mortgage, farmland | 0 | [3] | 0 | [3] |
Mortgage, 1 to 4 family first liens | 0 | [3] | 0 | [3] |
Mortgage, 1 to 4 family junior liens | 0 | [3] | 0 | [3] |
Mortgage, multi-family | 0 | [3] | 0 | [3] |
Mortgage, commercial | 0 | [3] | 0 | [3] |
Loans to individuals | 0 | [3] | 0 | [3] |
Obligations of state and political subdivisions | 0 | [3] | 0 | [3] |
Accrued interest receivable | 9,102 | [3] | 8,276 | [3] |
Total financial instrument assets | 285,737 | [3] | 279,992 | [3] |
Deposits | ||||
Noninterest-bearing deposits | 280,432 | [3] | 288,718 | [3] |
Interest-bearing deposits | 1,629,897 | [3] | 1,550,974 | [3] |
Other borrowings | 40,928 | [3] | 47,499 | [3] |
Federal Home Loan Bank borrowings | 144,697 | [3] | 145,210 | [3] |
Interest rate swaps | 3,888 | [3] | 2,796 | [3] |
Accrued interest payable | 859 | [3] | 902 | [3] |
Total financial instrument liabilities | 2,100,701 | [3] | 2,036,099 | [3] |
Financial instrument with off-balance sheet risk: | ||||
Loan commitments | 0 | [3] | 0 | [3] |
Letters of credit | 0 | [3] | 0 | [3] |
Total financial instrument liabilities with off-balance-sheet risk | 0 | [3] | 0 | [3] |
Company Determined Market Prices [Member] | ||||
Financial instrument assets: | ||||
Cash and cash equivalents | 0 | [4] | 0 | [4] |
Investment securities | 0 | [4] | 0 | [4] |
Loans held for sale | 0 | [4] | 0 | [4] |
Loans | ||||
Agricultural | 86,067 | [4] | 95,126 | [4] |
Commercial and financial | 176,493 | [4] | 171,081 | [4] |
Real estate: | ||||
Construction, 1 to 4 family residential | 49,317 | [4] | 45,159 | [4] |
Construction, land development and commercial | 73,978 | [4] | 75,623 | [4] |
Mortgage, farmland | 167,086 | [4] | 159,623 | [4] |
Mortgage, 1 to 4 family first liens | 674,531 | [4] | 665,428 | [4] |
Mortgage, 1 to 4 family junior liens | 115,978 | [4] | 115,726 | [4] |
Mortgage, multi-family | 244,840 | [4] | 246,191 | [4] |
Mortgage, commercial | 318,022 | [4] | 318,211 | [4] |
Loans to individuals | 20,560 | [4] | 21,016 | [4] |
Obligations of state and political subdivisions | 54,394 | [4] | 54,800 | [4] |
Accrued interest receivable | 0 | [4] | 0 | [4] |
Total financial instrument assets | 1,981,266 | [4] | 1,967,984 | [4] |
Deposits | ||||
Noninterest-bearing deposits | 0 | [4] | 0 | [4] |
Interest-bearing deposits | 0 | [4] | 0 | [4] |
Other borrowings | 0 | [4] | 0 | [4] |
Federal Home Loan Bank borrowings | 0 | [4] | 0 | [4] |
Interest rate swaps | 0 | [4] | 0 | [4] |
Accrued interest payable | 0 | [4] | 0 | [4] |
Total financial instrument liabilities | 0 | [4] | 0 | [4] |
Financial instrument with off-balance sheet risk: | ||||
Loan commitments | 0 | [4] | 0 | [4] |
Letters of credit | 0 | [4] | 0 | [4] |
Total financial instrument liabilities with off-balance-sheet risk | 0 | [4] | 0 | [4] |
Carrying Amount [Member] | ||||
Financial instrument assets: | ||||
Cash and cash equivalents | 83,345 | 29,174 | ||
Investment securities | 268,324 | 267,240 | ||
Loans held for sale | 8,311 | 4,476 | ||
Loans | ||||
Agricultural | 86,030 | 95,130 | ||
Commercial and financial | 176,034 | 170,507 | ||
Real estate: | ||||
Construction, 1 to 4 family residential | 49,679 | 45,139 | ||
Construction, land development and commercial | 74,615 | 75,589 | ||
Mortgage, farmland | 166,281 | 159,831 | ||
Mortgage, 1 to 4 family first liens | 671,734 | 666,406 | ||
Mortgage, 1 to 4 family junior liens | 109,592 | 109,133 | ||
Mortgage, multi-family | 241,971 | 243,723 | ||
Mortgage, commercial | 318,561 | 318,896 | ||
Loans to individuals | 20,594 | 21,043 | ||
Obligations of state and political subdivisions | 54,719 | 55,281 | ||
Accrued interest receivable | 9,102 | 8,276 | ||
Total financial instrument assets | 2,338,892 | 2,269,844 | ||
Deposits | ||||
Noninterest-bearing deposits | 280,432 | 288,718 | ||
Interest-bearing deposits | 1,626,903 | 1,546,351 | ||
Other borrowings | 40,928 | 47,499 | ||
Federal Home Loan Bank borrowings | 140,000 | 140,000 | ||
Interest rate swaps | 3,888 | 2,796 | ||
Accrued interest payable | 859 | 902 | ||
Total financial instrument liabilities | 2,093,010 | 2,026,266 | ||
Financial instrument with off-balance sheet risk: | ||||
Loan commitments | 386,613 | 334,100 | ||
Letters of credit | 9,582 | 12,437 | ||
Total financial instrument liabilities with off-balance-sheet risk | 396,195 | 346,537 | ||
Estimated Fair Value [Member] | ||||
Financial instrument assets: | ||||
Cash and cash equivalents | 83,345 | 29,174 | ||
Investment securities | 268,324 | 267,240 | ||
Loans held for sale | 8,311 | 4,476 | ||
Loans | ||||
Agricultural | 86,067 | 95,126 | ||
Commercial and financial | 176,493 | 171,081 | ||
Real estate: | ||||
Construction, 1 to 4 family residential | 49,317 | 45,159 | ||
Construction, land development and commercial | 73,978 | 75,623 | ||
Mortgage, farmland | 167,086 | 159,623 | ||
Mortgage, 1 to 4 family first liens | 674,531 | 665,428 | ||
Mortgage, 1 to 4 family junior liens | 115,978 | 115,726 | ||
Mortgage, multi-family | 244,840 | 246,191 | ||
Mortgage, commercial | 318,022 | 318,211 | ||
Loans to individuals | 20,560 | 21,016 | ||
Obligations of state and political subdivisions | 54,394 | 54,800 | ||
Accrued interest receivable | 9,102 | 8,276 | ||
Total financial instrument assets | 2,350,348 | 2,277,150 | ||
Deposits | ||||
Noninterest-bearing deposits | 280,432 | 288,718 | ||
Interest-bearing deposits | 1,629,897 | 1,550,974 | ||
Other borrowings | 40,928 | 47,499 | ||
Federal Home Loan Bank borrowings | 144,697 | 145,210 | ||
Interest rate swaps | 3,888 | 2,796 | ||
Accrued interest payable | 859 | 902 | ||
Total financial instrument liabilities | 2,100,701 | 2,036,099 | ||
Financial instrument with off-balance sheet risk: | ||||
Loan commitments | 0 | 0 | ||
Letters of credit | 0 | 0 | ||
Total financial instrument liabilities with off-balance-sheet risk | $0 | $0 | ||
[1] | Considered Level 1 under Accounting Standards Codification (bASCb) Topic 820, Fair Value Measurements and Disclosures (bASC 820b). | |||
[2] | Considered Level 1 under ASC 820. | |||
[3] | Considered Level 2 under ASC 820. | |||
[4] | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. |
Fair_Value_Measurements_Assets
Fair Value Measurements, Assets and Liabilities Recurring Basis (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | ||
In Thousands, unless otherwise specified | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | $259,878 | $258,992 | ||
U.S. Treasury [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 22,569 | 22,333 | ||
State and political subdivisions [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 171,358 | 168,968 | ||
Readily Available Market Prices [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Derivative Liability | 0 | [1] | 0 | [2] |
Total financial instrument assets | 83,345 | [1] | 29,174 | [2] |
Observable Market Prices [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Derivative Liability | -3,888 | [3] | -2,796 | [3] |
Total financial instrument assets | 285,737 | [3] | 279,992 | [3] |
Company Determined Market Prices [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Derivative Liability | 0 | [4] | 0 | [4] |
Total financial instrument assets | 1,981,266 | [4] | 1,967,984 | [4] |
Recurring Basis [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Total financial instrument assets | 255,990 | 256,196 | ||
Recurring Basis [Member] | U.S. Treasury [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 22,569 | 22,333 | ||
Recurring Basis [Member] | State and political subdivisions [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 171,358 | 168,968 | ||
Recurring Basis [Member] | Other securities (FHLB, FHLMC and FNMA) [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 65,951 | 67,691 | ||
Recurring Basis [Member] | Derivative Financial Instruments, Liabilities [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Derivative Liability | -3,888 | -2,796 | ||
Recurring Basis [Member] | Readily Available Market Prices [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Total financial instrument assets | 0 | [2] | 0 | [2] |
Recurring Basis [Member] | Readily Available Market Prices [Member] | U.S. Treasury [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 0 | [2] | 0 | [2] |
Recurring Basis [Member] | Readily Available Market Prices [Member] | State and political subdivisions [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 0 | [2] | 0 | [2] |
Recurring Basis [Member] | Readily Available Market Prices [Member] | Other securities (FHLB, FHLMC and FNMA) [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 0 | [2] | 0 | [2] |
Recurring Basis [Member] | Observable Market Prices [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Total financial instrument assets | 255,990 | [3] | 256,196 | [3] |
Recurring Basis [Member] | Observable Market Prices [Member] | U.S. Treasury [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 22,569 | [3] | 22,333 | [3] |
Recurring Basis [Member] | Observable Market Prices [Member] | State and political subdivisions [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 171,358 | [3] | 168,968 | [3] |
Recurring Basis [Member] | Observable Market Prices [Member] | Other securities (FHLB, FHLMC and FNMA) [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 65,951 | [3] | 67,691 | [3] |
Recurring Basis [Member] | Observable Market Prices [Member] | Derivative Financial Instruments, Liabilities [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Derivative Liability | -3,888 | [3] | -2,796 | [3] |
Recurring Basis [Member] | Company Determined Market Prices [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Total financial instrument assets | 0 | [4] | 0 | [4] |
Recurring Basis [Member] | Company Determined Market Prices [Member] | U.S. Treasury [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 0 | [4] | 0 | [4] |
Recurring Basis [Member] | Company Determined Market Prices [Member] | State and political subdivisions [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | 0 | [4] | 0 | [4] |
Recurring Basis [Member] | Company Determined Market Prices [Member] | Other securities (FHLB, FHLMC and FNMA) [Member] | ||||
Summary of assets and liabilities measured at fair value on a recurring basis [Abstract] | ||||
Investment securities available for sale at fair value (amortized cost March 31, 2015 $256,673; December 31, 2014 $256,920) | $0 | [4] | $0 | [4] |
[1] | Considered Level 1 under Accounting Standards Codification (bASCb) Topic 820, Fair Value Measurements and Disclosures (bASC 820b). | |||
[2] | Considered Level 1 under ASC 820. | |||
[3] | Considered Level 2 under ASC 820. | |||
[4] | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. |
Fair_Value_Measurements_Assets1
Fair Value Measurements, Assets and Liabilities on a Nonrecurring Basis (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | ||
Readily Available Market Prices [Member] | ||||
Loans | ||||
Agricultural | $0 | [1] | $0 | [2] |
Commercial and financial | 0 | [1] | 0 | [2] |
Real Estate [Abstract] | ||||
Construction, land development and commercial | 0 | [1] | 0 | [2] |
Mortgage, farmland | 0 | [1] | 0 | [2] |
Mortgage, 1 to 4 family first liens | 0 | [1] | 0 | [2] |
Mortgage, 1 to 4 family junior liens | 0 | [1] | 0 | [2] |
Mortgage, multi-family | 0 | [1] | 0 | [2] |
Mortgage, commercial | 0 | [1] | 0 | [2] |
Loans to individuals | 0 | [1] | 0 | [2] |
Total financial instrument assets | 83,345 | [1] | 29,174 | [2] |
Observable Market Prices [Member] | ||||
Loans | ||||
Agricultural | 0 | [3] | 0 | [3] |
Commercial and financial | 0 | [3] | 0 | [3] |
Real Estate [Abstract] | ||||
Construction, land development and commercial | 0 | [3] | 0 | [3] |
Mortgage, farmland | 0 | [3] | 0 | [3] |
Mortgage, 1 to 4 family first liens | 0 | [3] | 0 | [3] |
Mortgage, 1 to 4 family junior liens | 0 | [3] | 0 | [3] |
Mortgage, multi-family | 0 | [3] | 0 | [3] |
Mortgage, commercial | 0 | [3] | 0 | [3] |
Loans to individuals | 0 | [3] | 0 | [3] |
Total financial instrument assets | 285,737 | [3] | 279,992 | [3] |
Company Determined Market Prices [Member] | ||||
Loans | ||||
Agricultural | 86,067 | [4] | 95,126 | [4] |
Commercial and financial | 176,493 | [4] | 171,081 | [4] |
Real Estate [Abstract] | ||||
Construction, land development and commercial | 73,978 | [4] | 75,623 | [4] |
Mortgage, farmland | 167,086 | [4] | 159,623 | [4] |
Mortgage, 1 to 4 family first liens | 674,531 | [4] | 665,428 | [4] |
Mortgage, 1 to 4 family junior liens | 115,978 | [4] | 115,726 | [4] |
Mortgage, multi-family | 244,840 | [4] | 246,191 | [4] |
Mortgage, commercial | 318,022 | [4] | 318,211 | [4] |
Loans to individuals | 20,560 | [4] | 21,016 | [4] |
Total financial instrument assets | 1,981,266 | [4] | 1,967,984 | [4] |
Nonrecurring Basis [Member] | ||||
Loans | ||||
Agricultural | 1,733 | [5] | 1,679 | [5] |
Commercial and financial | 1,402 | [5] | 1,709 | [5] |
Real Estate [Abstract] | ||||
Construction, 1 to 4 family residential | 639 | [5] | 315 | [5] |
Construction, land development and commercial | 0 | [5] | 0 | [5] |
Mortgage, farmland | 2,438 | [5] | 2,040 | [5] |
Mortgage, 1 to 4 family first liens | 2,781 | [5] | 2,500 | [5] |
Mortgage, 1 to 4 family junior liens | 150 | [5] | 369 | [5] |
Mortgage, multi-family | 5,584 | [5] | 5,525 | [5] |
Mortgage, commercial | 2,091 | [5] | 1,918 | [5] |
Loans to individuals | 0 | [5] | 0 | [5] |
Foreclosed assets | 698 | [6] | 301 | [6] |
Total financial instrument assets | 17,516 | [5] | 16,356 | |
Total Losses | 523 | 1,369 | ||
Nonrecurring Basis [Member] | Agricultural [Member] | ||||
Real Estate [Abstract] | ||||
Total Losses | 0 | [5] | 25 | [5] |
Nonrecurring Basis [Member] | Commercial and financial [Member] | ||||
Real Estate [Abstract] | ||||
Total Losses | 0 | [5] | 206 | [5] |
Nonrecurring Basis [Member] | Real Estate: Construction, 1 to 4 family residential [Member] | ||||
Real Estate [Abstract] | ||||
Total Losses | 61 | [5] | 0 | [5] |
Nonrecurring Basis [Member] | Real Estate: Construction, land development and commercial [Member] | ||||
Real Estate [Abstract] | ||||
Total Losses | 0 | [5] | 0 | [5] |
Nonrecurring Basis [Member] | Real Estate: Mortgage, farmland [Member] | ||||
Real Estate [Abstract] | ||||
Total Losses | 0 | [5] | 0 | [5] |
Nonrecurring Basis [Member] | Real Estate: Mortgage, 1 to 4 family first liens [Member] | ||||
Real Estate [Abstract] | ||||
Total Losses | 254 | [5] | 576 | [5] |
Nonrecurring Basis [Member] | Real Estate: Mortgage, 1 to 4 family junior liens [Member] | ||||
Real Estate [Abstract] | ||||
Total Losses | 0 | [5] | 24 | [5] |
Nonrecurring Basis [Member] | Real Estate: Mortgage, multi-family [Member] | ||||
Real Estate [Abstract] | ||||
Total Losses | 38 | [5] | 0 | [5] |
Nonrecurring Basis [Member] | Real Estate: Mortgage, commercial [Member] | ||||
Real Estate [Abstract] | ||||
Total Losses | 140 | [5] | 328 | [5] |
Nonrecurring Basis [Member] | Loans to individuals [Member] | ||||
Real Estate [Abstract] | ||||
Total Losses | 0 | [5] | 0 | [5] |
Nonrecurring Basis [Member] | Foreclosed assets [Member] | ||||
Real Estate [Abstract] | ||||
Total Losses | 30 | [6] | 210 | [6] |
Nonrecurring Basis [Member] | Readily Available Market Prices [Member] | ||||
Loans | ||||
Agricultural | 0 | [2],[5] | 0 | [2],[5] |
Commercial and financial | 0 | [2],[5] | 0 | [2],[5] |
Real Estate [Abstract] | ||||
Construction, 1 to 4 family residential | 0 | [2],[5] | 0 | [2],[5] |
Construction, land development and commercial | 0 | [2],[5] | 0 | [2],[5] |
Mortgage, farmland | 0 | [2],[5] | 0 | [2],[5] |
Mortgage, 1 to 4 family first liens | 0 | [2],[5] | 0 | [2],[5] |
Mortgage, 1 to 4 family junior liens | 0 | [2],[5] | 0 | [2],[5] |
Mortgage, multi-family | 0 | [2],[5] | 0 | [2],[5] |
Mortgage, commercial | 0 | [2],[5] | 0 | [2],[5] |
Loans to individuals | 0 | [2],[5] | 0 | [2],[5] |
Foreclosed assets | 0 | [2],[6] | 0 | [2],[6] |
Total financial instrument assets | 0 | [2] | 0 | [2] |
Nonrecurring Basis [Member] | Observable Market Prices [Member] | ||||
Loans | ||||
Agricultural | 0 | [3],[5] | 0 | [3] |
Commercial and financial | 0 | [3],[5] | 0 | [3] |
Real Estate [Abstract] | ||||
Construction, 1 to 4 family residential | 0 | [3],[5] | 0 | [3] |
Construction, land development and commercial | 0 | [3],[5] | 0 | [3] |
Mortgage, farmland | 0 | [3],[5] | 0 | [3] |
Mortgage, 1 to 4 family first liens | 0 | [3],[5] | 0 | [3] |
Mortgage, 1 to 4 family junior liens | 0 | [3],[5] | 0 | [3] |
Mortgage, multi-family | 0 | [3],[5] | 0 | [3] |
Mortgage, commercial | 0 | [3],[5] | 0 | [3] |
Loans to individuals | 0 | [3],[5] | 0 | [3] |
Foreclosed assets | 0 | [3],[6] | 0 | [3],[6] |
Total financial instrument assets | 0 | [3],[5] | 0 | [3] |
Nonrecurring Basis [Member] | Company Determined Market Prices [Member] | ||||
Loans | ||||
Agricultural | 1,733 | [4],[5] | 1,679 | [4] |
Commercial and financial | 1,402 | [4],[5] | 1,709 | [4] |
Real Estate [Abstract] | ||||
Construction, 1 to 4 family residential | 639 | [4],[5] | 315 | [4] |
Construction, land development and commercial | 0 | [4],[5] | 0 | [4] |
Mortgage, farmland | 2,438 | [4],[5] | 2,040 | [4] |
Mortgage, 1 to 4 family first liens | 2,781 | [4],[5] | 2,500 | [4] |
Mortgage, 1 to 4 family junior liens | 150 | [4],[5] | 369 | [4] |
Mortgage, multi-family | 5,584 | [4],[5] | 5,525 | [4] |
Mortgage, commercial | 2,091 | [4],[5] | 1,918 | [4] |
Loans to individuals | 0 | [4],[5] | 0 | [4] |
Foreclosed assets | 698 | [4],[6] | 301 | [4],[6] |
Total financial instrument assets | $17,516 | [4],[5] | $16,356 | [4] |
[1] | Considered Level 1 under Accounting Standards Codification (bASCb) Topic 820, Fair Value Measurements and Disclosures (bASC 820b). | |||
[2] | Considered Level 1 under ASC 820. | |||
[3] | Considered Level 2 under ASC 820. | |||
[4] | Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. | |||
[5] | Represents carrying value and related write-downs of loans for which adjustments are based on the value of the collateral. The carrying value of loans fully-charged off is zero. | |||
[6] | Represents the fair value and related losses of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets. |
Stock_Repurchase_Program_Detai
Stock Repurchase Program (Details) (USD $) | 3 Months Ended | 116 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Jul. 26, 2005 | |
Equity [Abstract] | ||||
Maximum number of share authorized to repurchase under the program (in shares) | 750,000 | |||
Common stock purchased during the period (in shares) | 2,364 | 6,855 | 401,075 | |
Average price per share (in dollars per share) | $82.83 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Home equity loans [Member] | ||
Firm loan commitments and unused portion of lines of credit [Abstract] | ||
Total financial instrument liabilities with off-balance-sheet risk | $41,478,000 | $40,484,000 |
Credit cards [Member] | ||
Firm loan commitments and unused portion of lines of credit [Abstract] | ||
Total financial instrument liabilities with off-balance-sheet risk | 47,873,000 | 46,573,000 |
Commercial, real estate and home construction [Member] | ||
Firm loan commitments and unused portion of lines of credit [Abstract] | ||
Total financial instrument liabilities with off-balance-sheet risk | 114,570,000 | 81,613,000 |
Commercial lines and real estate purchase loan [Member] | ||
Firm loan commitments and unused portion of lines of credit [Abstract] | ||
Total financial instrument liabilities with off-balance-sheet risk | 182,692,000 | 165,430,000 |
Outstanding letters of credit [Member] | ||
Firm loan commitments and unused portion of lines of credit [Abstract] | ||
Total financial instrument liabilities with off-balance-sheet risk | 9,582,000 | 12,437,000 |
State and political subdivisions [Member] | ||
Concentration Risk [Line Items] | ||
Investment in securities issued by state and political subdivisions within the state of Iowa | $90,980,000 |
Income_Taxes_Details
Income Taxes (Details) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Income Tax Examination [Line Items] | ||
Effective tax rate | 29.26% | 26.16% |
Internal Revenue Service (IRS) [Member] | ||
Income Tax Examination [Line Items] | ||
Income tax examination, years under examination | December 31, 2014, 2013, and 2012 | |
State and Local Jurisdiction [Member] | ||
Income Tax Examination [Line Items] | ||
Income tax examination, years under examination | December 31, 2014, 2013, and 2012 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | Nov. 07, 2013 | |
derivative | |||
Derivatives, Fair Value [Line Items] | |||
Owned and pledged as collateral | 1,500,000 | ||
Designated as Hedging Instrument [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Number of interest rate swaps held | 2 | ||
Description of terms | three-month LIBOR | ||
Interest Rate Swap 1 [Member] | Interest Expense [Member] | |||
Gain (Loss) Recognized in Other Comprehensive Income, Net [Abstract] | |||
Gain (Loss) reclassified from accumulated OCI into income (effective portion) | 0 | 0 | |
Interest Rate Swap 1 [Member] | Other Income [Member] | |||
Gain (Loss) Recognized in Other Comprehensive Income, Net [Abstract] | |||
Gain (Loss) recognized in income (ineffective portion) | 0 | 0 | |
Interest Rate Swap 1 [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | |||
Gain (Loss) Recognized in Other Comprehensive Income, Net [Abstract] | |||
Gain (loss) recognized in other comprehensive income (effective portion) | -294,000 | -754,000 | |
Interest Rate Swap 1 [Member] | Other Liabilities [Member] | |||
Derivative instrument according to type of hedges [Abstract] | |||
Notional Amount | 25,000,000 | 25,000,000 | |
Fair Value | -1,340,000 | ||
Maturity | 9-Nov-20 | ||
Interest Rate Swap 1 [Member] | Other Assets [Member] | |||
Derivative instrument according to type of hedges [Abstract] | |||
Notional Amount | 25,000,000 | ||
Fair Value | -864,000 | ||
Maturity | 9-Nov-20 | ||
Interest Rate Swap 2 [Member] | Interest Expense [Member] | |||
Gain (Loss) Recognized in Other Comprehensive Income, Net [Abstract] | |||
Gain (Loss) reclassified from accumulated OCI into income (effective portion) | 0 | 0 | |
Interest Rate Swap 2 [Member] | Other Income [Member] | |||
Gain (Loss) Recognized in Other Comprehensive Income, Net [Abstract] | |||
Gain (Loss) recognized in income (ineffective portion) | 0 | 0 | |
Interest Rate Swap 2 [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | |||
Gain (Loss) Recognized in Other Comprehensive Income, Net [Abstract] | |||
Gain (loss) recognized in other comprehensive income (effective portion) | -380,000 | -1,448,000 | |
Interest Rate Swap 2 [Member] | Other Liabilities [Member] | |||
Derivative instrument according to type of hedges [Abstract] | |||
Notional Amount | 25,000,000 | 25,000,000 | |
Fair Value | -2,548,000 | ||
Maturity | 7-Nov-23 | ||
Interest Rate Swap 2 [Member] | Other Assets [Member] | |||
Derivative instrument according to type of hedges [Abstract] | |||
Notional Amount | 25,000,000 | ||
Fair Value | ($1,932,000) | ||
Maturity | 7-Nov-23 |
Subsequent_Events_Details
Subsequent Events (Details) | Mar. 31, 2015 | Dec. 31, 2014 | Apr. 08, 2015 |
Subsequent Event [Line Items] | |||
Common stock, authorized (in shares) | 10,000,000 | 10,000,000 | |
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | |||
Common stock, authorized (in shares) | 20,000,000 |