Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 09, 2016 | Jun. 30, 2015 | |
Document and entity information [Abstract] | |||
Entity public float | $ 59,782,523 | ||
Current fiscal year end date | --12-31 | ||
Entity central index key | 750,574 | ||
Entity current reporting status | Yes | ||
Entity filer category | Smaller Reporting Company | ||
Entity registrant name | Auburn National Bancorporation, Inc | ||
Trading Symbol | AUBN | ||
Entity voluntary filers | No | ||
Entity well known seasoned issuer | No | ||
Entity common stock shares outstanding | 3,643,478 | ||
Amendment flag | false | ||
Document Type | 10-K | ||
Document Year Focus | 2,015 | ||
Document Period Focus | FY | ||
Document Period End Date | Dec. 31, 2015 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Assets: | ||
Cash and due from banks | $ 9,806 | $ 12,856 |
Federal funds sold | 57,395 | 68,507 |
Interest bearing bank deposits | 46,729 | 2,140 |
Cash and cash equivalents | 113,930 | 83,503 |
Securities available-for-sale | 241,687 | 267,603 |
Loans held for sale | 1,540 | 1,974 |
Loans, net of unearned income | 426,410 | 402,954 |
Allowance for loan losses | (4,289) | (4,836) |
Loans, net | 422,121 | 398,118 |
Premises and equipment, net | 11,866 | 10,807 |
Bank-owned life insurance | 17,433 | 18,004 |
Other real estate owned | 252 | 534 |
Other assets | 8,360 | 8,688 |
Total assets | 817,189 | 789,231 |
Deposits: | ||
Noninterest-bearing | 156,817 | 130,160 |
Interest-bearing | 566,810 | 563,230 |
Total deposits | 723,627 | 693,390 |
Federal funds purchased and securities sold under agreements to repurchase | 2,951 | 4,681 |
Long-term debt | 7,217 | 12,217 |
Accrued expenses and other liabilities | 3,445 | 3,144 |
Total liabilities | 737,240 | 713,432 |
Stockholders' equity: | ||
Preferred stock | 0 | 0 |
Common stock | 39 | 39 |
Additional paid-in capital | 3,766 | 3,763 |
Retained earnings | 80,845 | 76,193 |
Accumulated other comprehensive income, net | 1,937 | 2,443 |
Less treasury stock, at cost | (6,638) | (6,639) |
Total stockholders' equity | 79,949 | 75,799 |
Total liabilities and stockholders' equity | $ 817,189 | $ 789,231 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Preferred stock par value | $ 0.01 | $ 0.01 |
Authorized shares, preferred | 200,000 | 200,000 |
Issued shares, preferred | 0 | 0 |
Common stock par value | $ 0.01 | $ 0.01 |
Authorized shares, common | 8,500,000 | 8,500,000 |
Issued shares, common | 3,957,135 | 3,957,135 |
Treasury stock, shares held | 313,657 | 313,807 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Interest income: | ||
Loans, including fees | $ 20,484 | $ 19,551 |
Securities - Taxable | 3,851 | 4,627 |
Securities - Tax-exempt | 2,604 | 2,502 |
Federal funds sold and interest bearing bank deposits | 214 | 137 |
Total interest income | 27,153 | 26,817 |
Interest expense: | ||
Deposits | 4,135 | 4,927 |
Short-term borrowings | 18 | 19 |
Long-term debt interest expense | 282 | 418 |
Total interest expense | 4,435 | 5,364 |
Net interest income | 22,718 | 21,453 |
Provision for loan losses | 200 | 50 |
Net interest income after provision for loan losses | 22,518 | 21,403 |
Noninterest income: | ||
Service charges on deposit accounts | 823 | 872 |
Mortgage lending | 1,444 | 1,636 |
Bank-owned life insurance income | 747 | 501 |
Other noninterest income | 1,502 | 1,454 |
Securities gains (losses), net: | ||
Realized gains (losses), net | 16 | (197) |
Total other-than-temporary impairments | 0 | (333) |
Total securities gains (losses), net | 16 | (530) |
Total noninterest income | 4,532 | 3,933 |
Noninterest expense: | ||
Salaries and benefits | 9,293 | 8,943 |
Net occupancy and equipment | 1,547 | 1,431 |
Professional fees | 756 | 920 |
FDIC and other regulatory assessments | 472 | 465 |
Other real estate owned, net | 11 | (450) |
Prepayment penalties on long-term debt | 362 | 0 |
Other noninterest expense | 3,931 | 3,795 |
Total noninterest expense | 16,372 | 15,104 |
Earnings before income taxes | 10,678 | 10,232 |
Income tax expense | 2,820 | 2,784 |
Net earnings | $ 7,858 | $ 7,448 |
Net earnings per share: | ||
Basic and diluted earnings per share | $ 2.16 | $ 2.04 |
Weighted average shares outstanding: | ||
Basic and diluted weighted average shares outstanding | 3,643,428 | 3,643,278 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Statements of Comprehensive Income [Abstract] | ||
Net earnings | $ 7,858 | $ 7,448 |
Other comprehensive (loss) income, net of tax: | ||
Unrealized net holding (loss) gain on all other securities | (496) | 6,660 |
Reclassification adjustment for net (gain) loss on securities recognized in net earnings | (10) | 335 |
Other comprehensive (loss) income | (506) | 6,995 |
Comprehensive income | $ 7,352 | $ 14,443 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock Member | Additional Paid In Capital Member | Retained Earnings Member | Accumulated Other Comprehensive Income Member | Treasury Stock Member |
Balance, shares at Dec. 31, 2013 | 3,957,135 | |||||
Balance, Beg at Dec. 31, 2013 | $ 64,485 | $ 39 | $ 3,759 | $ 71,879 | $ (4,552) | $ (6,640) |
Net earnings | 7,448 | 0 | 0 | 7,448 | 0 | 0 |
Other Comprehensive Income (Loss), Net Of Tax | 6,995 | 0 | 0 | 0 | 6,995 | 0 |
Cash dividends paid | (3,134) | 0 | 0 | (3,134) | 0 | 0 |
Sale of treasury stock | 5 | 0 | 4 | 0 | 0 | 1 |
Balance, End at Dec. 31, 2014 | $ 75,799 | 39 | 3,763 | 76,193 | 2,443 | (6,639) |
Balance, shares at Dec. 31, 2014 | 3,957,135 | |||||
Net earnings | $ 7,858 | 0 | 0 | 7,858 | 0 | 0 |
Other Comprehensive Income (Loss), Net Of Tax | (506) | 0 | 0 | 0 | (506) | 0 |
Cash dividends paid | (3,206) | 0 | 0 | (3,206) | 0 | 0 |
Sale of treasury stock | 4 | 0 | 3 | 0 | 0 | 1 |
Balance, End at Dec. 31, 2015 | $ 79,949 | $ 39 | $ 3,766 | $ 80,845 | $ 1,937 | $ (6,638) |
Balance, shares at Dec. 31, 2015 | 3,957,135 |
Consolidated Statements of Sto7
Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Stockholders' Equity (Parentheticals) | ||
Cash dividends paid per share | $ 0.88 | $ 0.86 |
Treasury shares sold | 150 | 210 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities: | ||
Net earnings | $ 7,858 | $ 7,448 |
Adjustments to reconcile net earnings to net cash provided by operating activties: | ||
Provision for loan losses | 200 | 50 |
Depreciation and amortization | 1,166 | 780 |
Premium amortization and discount accretion, net | 1,549 | 1,548 |
Deferred income tax expense | 620 | 786 |
Net (gain) loss on securities available for sale | (16) | 530 |
Net gain on sale of loans held for sale | (1,152) | (1,163) |
Net loss (gain) on other real estate owned | 1 | (458) |
Loss on prepayment of long-term debt | 362 | 0 |
Loans originated for sale | (63,566) | (57,069) |
Proceeds from sale of loans | 64,623 | 58,089 |
Increase in cash surrender value of bank owned life insurance | (471) | (501) |
Income recognized from death benefit on bank-owned life insurance | 276 | 0 |
Net increase in other assets | (350) | (27) |
Net increase in accrued expenses and other liabilities | 304 | 518 |
Net cash provided by operating activities | 10,852 | 10,531 |
Cash flows from investing activities: | ||
Proceeds from sales of securities available-for-sale | 0 | 37,132 |
Proceeds from maturities of securities available-for-sale | 31,334 | 53,767 |
Purchase of securities available-for-sale | (7,752) | (78,278) |
(Increase) decrease in loans, net | (24,212) | (20,572) |
Net purchases of premises and equipment | (1,534) | (744) |
Decrease in FHLB stock | 191 | 235 |
Proceeds from bank-owned life insurance death benefit | 1,319 | 0 |
Proceeds from sale of other real estate owned | 290 | 4,480 |
Net cash used in investing activities | (364) | (3,980) |
Cash flows from financing activities: | ||
Net increase in noninterest-bearing deposits | 26,657 | 4,420 |
Net increase in interest-bearing deposits | 3,580 | 20,126 |
Net (decrease) increase in federal funds purchased and securities sold under agreements to repurchase | (1,730) | 1,318 |
Repayments or retirement of long-term debt | (5,362) | 0 |
Dividends paid | (3,206) | (3,134) |
Net cash provided by financing activities | 19,939 | 22,730 |
Net change in cash and cash equivalents | 30,427 | 29,281 |
Cash and cash equivalents at beginning of period | 83,503 | 54,222 |
Cash and cash equivalents at end of period | 113,930 | 83,503 |
Cash paid during the period for: | ||
Interest | 4,528 | 5,406 |
Income taxes | 2,308 | 1,413 |
Supplemental disclosure of non-cash transactions: | ||
Real estate acquired through foreclosure | $ 9 | $ 475 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Summary of Signficant Accounting Policies | |
Summary of Significant Accounting Policies Text Block | AUBURN NATIONAL BANCORPORATION, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements NOTE 1 : SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business Auburn National Bancorporation, Inc. (the “Company”) is a bank holding company whose primary business is conducted by its wholly-owned subsidiary, AuburnBank (the “Bank”). AuburnBank is a commercial bank located in Auburn , Alabama . The Bank provides a full range of banking services in its primary market area, Lee County , which includes the Auburn-Opelika Metropolitan Statistical Area. Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsi diar ies. Auburn National Bancorporation Capital Trust I is an affiliate of the Company and was included in these consolidated financial statements pursuant to the equity method of accounting. Significant intercompany transactions and accounts are eliminat ed in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilitie s and the disclosure of contingent assets and liabilities as of the balance sheet date and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly su sceptible to significant change in the near term include the determination of the allowance for loan losses , fair value measurements , valuation of other real estate owned, and valuation of deferred tax assets. Reclassifications Certain amounts reported in the prior period have been reclassified to conform to the current-period presentation. These reclassifications had no impact on the Company’s previously reported net earnings or total stockholders’ equity . Accounting Standards Adopted in 2015 In the first quarter of 2015 , the Company adopted new guidance related to the following Accounting Standards Updates (“Updates” or “ASUs”): • ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Projects ; • ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure; • ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ; • ASU 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures; and • ASU 2014-14, Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure . Information about these pronouncements is described in more detail below. ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Project s, amends the criteria a company must meet to elect to account for investments in qualified affordable housing projects using a method other than the cost or equity methods. If the criteria are met, a company is permitted to amortize the initial investment cost in proportion to and over the same period as the total tax benefits the company expects to receive. The amortization of the initial investment cost and tax benefits are t o be recorded in the income tax expense line. The Update also requires new disclosures about all investments in qualified affordable housing projects regardless of the accounting method used. These changes were effective for the Company in the first quarte r of 2015. Adoption of this ASU did not have a material impact on the consolidated financial statements of the Company. ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure , clarifies the timing of when a creditor is considered to have taken physical possession of residential real estate collateral for a consumer mortgage loan, resulting in the reclassification of the loan receivable to real estate owned. A creditor has taken physical possession o f the property when either (1) the creditor obtains legal title through foreclosure, or (2) the borrower transfers all interests in the property to the creditor via a deed in lieu of foreclosure or a similar legal agreement. The Update also requires disclo sure of the amount of foreclosed residential real estate property held by the creditor and the recorded investment in residential real estate mortgage loans that are in the process of foreclosure. These changes were effective for the Company in the first q uarter of 2015. Adoption of this ASU did not have a material impact on the consolidated financial statements of the Company. ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity , changes the definition and reporting requirements for discontinued operations. Under the new guidance, an entity’s disposal of a component or group of components must be reported in discontinued operations if the disposal is a strategic shift that has or will have a significant eff ect on the entity’s operations and financial results. Major strategic shifts include disposals of a major geographic area or line of business. This guidance also requires new disclosures on discontinued operations. These changes were effective for the Comp any in the first quarter 2015. Adoption of this ASU did not have a material impact on the consolidated financial statements of the Company. ASU 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures , changes current accountin g and expands secured borrowing accounting for repurchase-to-maturity transactions and repurchase financings. This guidance requires new disclosures for certain repurchase agreements and similar transactions that identify which items are accounted for as secured borrowings and which items are accounted for as sales. These changes were effective for the Company in the first quarter 2015. Adoption of this ASU did not have a material impact on the consolidated financial statements of the Company. ASU 20 14-14, Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure , clarifies how creditors classify government-guaranteed mortgage loans, including FHA or VA guaranteed loans, upon foreclosure. Some creditors reclassify those loans to real estate consistent with other foreclosed loans that do not have guarantees; others reclassify the loans to other receivables. The amendments in this guidance require that a mortgage loan be derecognized and that a separate other receivable be recognize d upon foreclosure if the following conditions are met: (1) The loan has a government guarantee that is not separable from the loan before foreclosure; (2) At the time of foreclosure, the creditor has the intent to convey the real estate property to the gu arantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim; and (3) At the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclo sure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. These changes were effective for the Company in the first quarter of 2015. Adoption of this ASU did not have a material impact on the consolidated financial statements of the Company. Cash Equivalents Cash equivalents include c ash on hand, cash items in process of collection, amounts due from banks, including interest bearing deposits with other banks, and federal funds sold. Securities Securities are classified based on management’s intention at the date of purchase. At December 31, 2015 , all of the Company’s securities were classified as availa ble-for-sale. Securities available-for-sale are used as part of the Company’s interest rate risk management strategy, and they may be sold in response to changes in interest rates, changes in prepayment risks or other factors. All securities classified as available-for-sale are recorded at fair value with any unrealized gains and losses reported in accu mulated other comprehensive income , net of the deferred income tax effects. Interest and dividends on securities, including the amortization of premiums and accretion of discounts are recognized in interest income over the anticipated life of the security using the effective interest method, taking into consideration prepayment assumptions. Realized gains and losses from the sale of securities are determined u sing the specific identification method. On a quarterly basis, management makes an assessment to determine whether there have been events or economic circumstances to indicate that a security on which there is an unrealized loss is other-than-temporarily impaired. For equity securities with an unrealized loss, the Company considers many factors including the severity and duration of the impairment; the intent and ability of the Company to hold the security for a period of time sufficient for a recovery in value; and recent events specific to the issuer or industry. Equity securities on which there is an unrealized loss that is deemed to be other-than-temporary are written down to fair value with the write-down recorded as a realized loss in securities gain s (losses) , net . For debt securities with an unrealized loss, an other-than-temporary impairment write-down is triggered when (1) the Company has the intent to sell a debt security, (2) it is more likely than not that the Company will be required to sel l the debt security before recovery of its amortized cost basis, or (3) the Company does not expect to recover the entire amortized cost basis of the debt security. If the Company has the intent to sell a debt security or if it is more likely than not that it will be required to sell the debt security before recovery, the other-than-tem porary write-down is equal to the entire difference between the debt security’s amortized cost and its fair value. If the Company does not intend to sell the security or it is not more likely than not that it will be required to sell the security before r ecovery, the other-than-temporary impairment write-down is separated into the amount that is credit related (credit loss component) and the amount due to all other factors. The credit loss component is recognized in earnings, as a realized loss in securit ies gains (losses), and is the difference between the security’s amortized cost basis and the present value of its expected future cash flows. The remaining difference between the security’s fair value and the present value of future expected cash flows i s due to factors that are not credit related and is recognized in other comprehensive income, net of applicable taxes. Loans held for sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair va lue in the aggregate . Loan sales are recognized when the transaction closes, the proceeds are collected, and ownership is transferred. Continuing involvement, through the sales agreement, consists of the right to service the loan for a fee for the life o f the loan, if applicable. Gains on the sale of loans held for sale are recorded net of related costs, such as commissions, and reflected as a component of mortgage lending income in the consolidated statements of earnings. In the course of conducting the Bank’s mortgage lending activities of originating mortgage loans and selling those loans in the secondary market, the Bank makes various representations and warranties to the purchaser of the mortgage loans. Every loan closed by the Bank’s mortgage c enter is run through a government agency automated underwriting system. Any exceptions noted during this process are remedied prior to sale. These representations and warranties also apply to underwriting the real estate appraisal opinion of value for th e collateral securing these loans. Failure by the Company to comply with the underwriting and/or appraisal standards could result in the Company being required to repurchase the mortgage loan or to reimburse the investor for losses incurred (make whole re quests) if such failure cannot be cured by the Company within the specified period following discovery. Loans Loans are reported at their outstanding principal balances, net of any unearned income , charge-offs, and any deferred fees or costs on originat ed loans. Interest income is accrued based on the principal balance outstanding. Loan origination fees, net of certain loan origination costs, are deferred and recognized in interest income over the contractual life of the loan using the effective intere st method. Loan commitment fees are generally deferred and amortized on a straight-line basis over the commitment period , which results in a recorded amount that approximates fair value . The accrual of interest on loans is discontinued when there is a sig nificant deterioration in the financial condition of the borrower and full repayment of principal and interest is not expected or the principal or interest is more than 90 days past due, unless the loan is both well-collateralized and in the process of col lection. Generally, all interest accrued but not collected for loans that are placed on nonaccrual status is reversed against current interest income. Interest collections on non accrual loans are generally applied as principal reductions. The Company deter mines past due or delinquency status of a loan based on contractual payment terms. A loan is considered impaired when it is probable the Company will be unable to collect all principal and interest payments due according to the contractual terms of the lo an agreement. Individually identified impaired loans are measured based on the present value of expected payments using the loan’s original effective rate as the discount rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. If the recorded investment in the impaired loan exceeds the measure of fair value, a valuation allowance may be established as part of the allowance for loan losses. Changes to the valuation allowance are recorded as a compone nt of the provision for loan losses. Impaired loans also include troubled debt restructurings (“TDRs”). In the normal course of business, management may grant concessions to borrowers who are experiencing financial difficulty. The concessions granted most frequently for TDRs involve reductions or delays in required payments of principal and interest for a specified time, the rescheduling of payments in accordance with a bankruptcy plan or the charge-off of a portion of the loan. In most cases, the conditio ns of the credit also warrant nonaccrual st atus, even after the restructuring occurs. As part of the credit approval process, the restructured loans are evaluated for adequate collateral protection in determining the appropriate accrual s tatus at the time of restructuring . TDR loans may be returned to accrual status if there has been at least a six-month sustained period of repayment performance by the borrower. Allowance for Loan Losses The allowance for loan losses is maintained at a level that manageme nt believes is adequate to absorb probable losses inherent in the loan portfolio. Loan losses are charged against the allowance when they are known. Subsequent recoveries are credited to the allowance. Management’s determination of the adequacy of the allo wance is based on an evaluation of the portfolio, current economic conditions, growth, composition of the loan portfolio, homogeneous pools of loans, risk ratings of specific loans, historical loan loss factors, identified impaired loans and other factors related to the portfolio. This evaluation is performed quarterly and is inherently subjective, as it requires various material estimates that are susceptible to significant change, including the amounts and timing of future cash flows expected to be receiv ed on any impaired loans. In addition, regulatory agencies, as an integral part of their examination process, will periodically review the Company’s allowance for loan losses, and may require the Company to record additions to the allowance based on their judgment about information available to them at the time of their examinations. Premises and Equipment Land is carried at cost. Buildings and equipment are carried at cost, less accumulated depreciation computed on a straight-line method over the useful lives of the assets or the expected terms of the leases, if shorter. Expected terms include lease option periods to the extent that the exercise of such options is reasonably assured. Other Real Estate Owned Other real estate owned (“OREO” ) includes properties acquired through, or in lieu of, loan foreclosure that are held for sale and are initially recorded at the lower of the loan’s carrying amount or fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying value amount or fair value less cost to sell. Gains or losses realized upon sale of OREO and additional losses related to su bsequent valuation adjustments are determined on a specific property basis and are included as a component of noninterest expense along with holding costs. Nonmarketable equity investments Nonmarketable equity investments include equity securities that are not publicly traded and securities acquired for various purposes . The Bank is required to maintain certain minimum levels of equity investments with certain regulatory and other entities in which the Bank has an ongoing business relationship based on the Bank’s common stock and surplus (with regard to the relationship with the Federal Reserve Bank) or outstanding borrowings (with regard to the relationship with the Federal Home Loan Bank of Atlanta). These securities are accounted for under the cost me thod and are included in other assets. For cost-method investments , on a quarterly basis , the Company evaluates whether an event or change in circumstances has occurred during the reporting period that may have a significant adverse effect on the fair val ue of the investment. If the Company determines that a decline in value is other-than-temporary, the Company will recognize the estimated loss in securities gains (losses), net. Transfers of Financial Assets Transfers of an entire financial asset (i.e. lo an sales), a group of entire financial assets, or a participating interest in an entire financial asset (i.e. loan participations sold) are accounted for as sales when control over the assets have been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking that right) to pledge or exchange the transferred assets, and (3) the Company does not mainta in effective control over the transferred assets through an agreement to repurchase them before their maturity. Mortgage Servicing Rights The Company recognizes as assets the rights to service mortgage loans for others, known as MSRs. The Company determin es the fair value of MSRs at the date the loan is transferred. An estimate of the Company’s MSRs is determined using assumptions that market participants would use in estimating future net servicing income, including estimates of pre p ayment speeds, discou nt rate, default rates, cost to service, escrow account earnings, contractual servicing fee income, ancillary income, and late fees. Subsequent to the date of transfer, the Company has elected to measure its MSRs under the amortization method. Under the amortization method, MSRs are amortized in proportion to, and over the period of, estimated net servicing income. The amortization of MSRs is analyzed monthly and is adjusted to reflect changes in prepayment speeds, as well as other factors. MSRs are ev aluated for impairment based on the fair value of those assets. Impairment is determined by stratifying MSRs into groupings based on predominant risk characteristics, such as interest rate and loan type. If, by individual stratum, the carrying amount of the MSRs exceeds fair value, a valuation allowance is established through a charge to earnings. The valuation allowance is adjusted as the fair value changes. MSRs are included in the other assets category in the accompanying consolidated balance sheet s . Derivative Instruments In accordance with Accounting Standards Codification (“ASC”) Topic 815, Derivatives and Hedging , all derivative instruments are recorded on the consolidated balance sheet at their respective fair values. The accounting for changes in fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, if so, on the reason for holding it. If the derivative instrument is not designated as part of a hedg ing relationship , the gain or loss on the derivative instrument is recognized in earnings in the period of change. None of the derivatives utilized by the Company have been designated as a hedge. Securities sold under agreements to repurchase Securities sold under agreements to repurchase generally mature less than one year from the transaction date. Securities sold under agreements to repurchase are reflected as a secured borrowing in the accompanying consolidated balance sheets at the amount of cash received in connection with each transaction. Income Taxes Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enac ted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. The net deferred tax asset is reflected as a component of other assets in the accompanying consolidated balance sheets. Income tax expense or benefit for the year is allocated among continuing operations and other comprehensive income (loss), as applicable. The amount allocated to continuing operations is the income tax effect of the pretax income or loss from continuing operations that occu rred during the year, plus or minus income tax effects of ( 1 ) changes in certain circumstances that cause a change in judgment about the realization of deferred tax assets in future years, ( 2 ) changes in income tax laws or rates, and ( 3 ) changes in income tax status, subject to certain exceptions. The amount allocated to other comprehensive income (loss) is related solely to changes in the valuation allowance on items that are normally accounted for in other comprehensive income (loss) such as unrealized g ains or losses on available-for-sale securities. In accordance with ASC 740, Income Taxes , a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. It is the Compa ny’s policy to recognize interest and penalties related to income tax matters in income tax expense. The Company and its wholly-owned subsidiaries file a consolidated income tax return. Fair Value Measurements ASC 820 , Fair Value Measurements, which defines fair value, establishes a framework for measuring fair value in U.S. generally accepted accounting principles and expands disclosures about fair value measurements. ASC 820 applies only to fair-value measurements that are already required or permitted by other accounting standards. The definition of fair value focuses on the exit price, i.e., the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurem ent date, not the entry price, i.e., the price that would be paid to acquire the asset or received to assume the liability at the measurement date. The statement emphasizes that fair value is a market-based measurement; not an entity-specific measurement. Therefore, the fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. For more information related to fair value measurements, please refer to Note 17 , Fair Value. Subs equent Events The Company has evaluated the effects of events or transactions through the date of this filing that have occurred subsequent to December 31, 2015 . The Company does not believe there are any material subsequent events that would require further recognition or disclosure . |
Basic and Diluted Earnings Per
Basic and Diluted Earnings Per Share | 12 Months Ended |
Dec. 31, 2015 | |
Basic and Diluted Earnings Per Share [Abstract] | |
Basic and Diluted Earnings Per Share Text Block | NOTE 2 : BASIC AND DILUTED NET EARNINGS PER SHARE Basic net earnings per share is computed by dividing net earnings by the weighted average common shares outstanding for the year. Diluted net earnings per share reflect the potential dilution that could occur upon exercise of securities or other rights for, or convertible into, shares of the Company’s common stock. As of December 31, 2015 and 2014 , respectively, the Company had no such securities or other rights issued or outstanding, and the refore, no dilutive effect to consider for the diluted net earnings per share calculation. Year ended December 31 (Dollars in thousands, except share and per share data) 2015 2014 Basic and diluted: Net earnings $ 7,858 $ 7,448 Weighted average common shares outstanding 3,643,428 3,643,278 Net earnings per share $ 2.16 $ 2.04 |
Variable Interest Entities
Variable Interest Entities | 12 Months Ended |
Dec. 31, 2015 | |
Variable interest entities [Abstract] | |
Variable interest entity [Text Block] | NOTE 3 : VARIABLE INTEREST ENTITIES Generally, a variable interest entity (“VIE”) is a corporation, partnership, trust or other legal structure that does not have equity investors with substantive or proportional voting rights or has equity investors that do not provide sufficient financial resources for the entity to support its activ ities. At December 31, 2015 , the Company did not have any consolidated VIEs to disclose but did have one nonconsolidated VIE, discussed below. Trust Preferred Securities The Company owns the common stock of a subsidiary business trust, Auburn National Bancor poration Capital Trust I, which issued mandatorily redeemable preferred capital securities (“trust preferred securities”) in the aggregate of approximately $7.0 million at the time of issuance. This trust meets the definition of a VIE of which the Company is not the primary beneficiary; the trust’s only assets are junior subordinated debentures issued by the Company, which were acquired by the trust using the proceeds from the issuance of the trust preferred securities and common stock. The junior subordina ted debentures of approximately $7.2 million are included in long-term debt and the Company’s equity interest of $0.2 million in the business trust is included in other assets. Interest expense on the junior subordinated debentures is included in interest expense on long-term debt. The following table summarizes VIEs that are not consolidated by the Company as of December 31, 2015 . Maximum Loss Liability (Dollars in thousands) Exposure Recognized Classification Type: Trust preferred issuances N/A $ 7,217 Long-term debt |
Restricted Cash Balances
Restricted Cash Balances | 12 Months Ended |
Dec. 31, 2015 | |
Restricted Cash Balances | |
Restricted Cash Balances Text Block | NOTE 4 : RESTRICTED CASH BALANCES Regulation D of the Federal Reserve Act requires that banks maintain reserve balances with the Federal Reserve Bank based principally on the type and amount of their deposits. As of December 31, 2015 and 2014 , the Bank did not have a required reserve balance at the Federal Reserve Bank. |
Securities
Securities | 12 Months Ended |
Dec. 31, 2015 | |
Investments debt and equity securities [Abstract] | |
Investments In Debt And Marketable Equity Securities And Certain Trading Assets Disclosure Text Block | NOTE 5 : SECURITIES At December 31, 2015 and 2014 , respectively, all securities within the scope of ASC 320, Investments – Debt and Equity Securities were classified as available-for-sale. The fair value and amortized cost for securities available-for-sale by contractual maturity at December 31, 2015 and 2014 , respectively, are presented below. 1 year 1 to 5 5 to 10 After 10 Fair Gross Unrealized Amortized (Dollars in thousands) or less years years years Value Gains Losses Cost December 31, 2015 Agency obligations (a) $ 5,000 25,852 19,463 9,770 60,085 384 518 $ 60,219 Agency RMBS (a) — 1,623 13,511 95,820 110,954 968 780 110,766 State and political subdivisions — 497 12,094 58,057 70,648 3,022 7 67,633 Total available-for-sale $ 5,000 27,972 45,068 163,647 241,687 4,374 1,305 $ 238,618 December 31, 2014 Agency obligations (a) $ — 30,947 14,869 14,433 60,249 375 830 $ 60,704 Agency RMBS (a) — — 14,523 120,520 135,043 1,597 616 $ 134,062 State and political subdivisions — 502 15,520 56,289 72,311 3,379 34 $ 68,966 Total available-for-sale $ — 31,449 44,912 191,242 267,603 5,351 1,480 $ 263,732 (a) Includes securities issued by U.S. government agencies or government sponsored entities. Securities with aggregate fair values of $133.3 million and $132.2 million at December 31, 2015 and 2014 , respectively, were pledged to secure public deposits, securities sold under agreements to repurchase, Federal Home Loan Bank (“FHLB”) advances, and for other purposes required or permitted by law. Included in other assets on the accompanying consolida ted balance sheets are cost-method investments. The carrying amounts of cost-method investments were $1.4 and $1.6 million at December 31, 2015 and 2014 , respectively. Cost-method investments primarily include non-marketable equity investments, such as FHLB of Atlanta stock and Federal Reserve Bank (“FRB”) stock. Gross Unrealized Losses and Fair Value The fair values and gross unrealized losses on securities at December 31, 2015 and 2014 , respectively, segregated by those securities that have been in an unrealized loss position for less than 12 months and 12 months or more are presented below. Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Value Losses Value Losses December 31, 2015: Agency obligations $ 8,157 2 24,444 516 32,601 $ 518 Agency RMBS 42,345 367 18,184 413 60,529 780 State and political subdivisions 267 1 969 6 1,236 7 Total $ 50,769 370 43,597 935 94,366 $ 1,305 December 31, 2014: Agency obligations $ — — 24,126 830 24,126 $ 830 Agency RMBS 9,078 22 42,744 594 51,822 616 State and political subdivisions 4,257 34 — — 4,257 34 Total $ 13,335 56 66,870 1,424 80,205 $ 1,480 For the securities in the previous table, the Company does not have the intent to sell and has determined it is not more likely than not that the Company will be required to sell the security before recovery of the amortized cost basis, which may be maturity. The Company assesses each security for credit impairment. For debt securities, the Company evaluates, where necessary, whether credit impairment exists by comparing the present value of the expected cash flows to the securities’ amortized cost ba sis. For cost-method investments, the Company evaluates whether an event or change in circumstances has occurred during the reporting period that may have a significant adverse effect on the fair value of the investment. In determining whether a loss is temporary, the Company considers all relevant information including: the length of time and the extent to which the fair value has been less than the amortized cost basis; adverse conditions specifically related to the security, an industry, or a geogr aphic area (for example, changes in the financial condition of the issuer of the security, or in the case of an asset-backed debt security, in the financial condition of the underlying loan obligors, including changes in technology or the discontinuance of a segment of the business that may affect the future earnings potential of the issuer or underlying loan obligors of the security or changes in the quality of the credit enhancement); the historical and implied volatility of the fair value of the security ; the payment structure of the debt security and the likelihood of the issuer being able to make payments that increase in the future; failure of the issuer of the security to make scheduled interest or principal payments; any changes to the rating of t he security by a rating agency; and recoveries or additional declines in fair value subsequent to the balance sheet date. Agency obligations The unrealized losses associated with agency obligations were primarily driven by changes in interest rates and n ot due to the credit quality of the securities. These securities were issued by U.S. government agencies or government-sponsored entities and did not have any credit losses given the explicit government guarantee or other government support. Agency reside ntial mortgage-backed securities (“RMBS”) The unrealized losses associated with agency RMBS were primarily driven by changes in interest rates and not due to the credit quality of the securities. These securities were issued by U.S. government agencies or government-sponsored entities and did not have any credit losses given the explicit government guarantee or other government support. Securities of U.S. states and political subdivisions The unrealized losses associated with securities of U.S. states an d political subdivisions were primarily driven by changes in interest rates and were not due to the credit quality of the securities. Some of these securities are guaranteed by a bond insurer, but management did not rely on the guarantee in making its inve stment decision. These securities will continue to be monitored as part of the Company’s quarterly impairment analysis, but are expected to perform even if the rating agencies reduce the credit rating of the bond insurers. As a result, the Company expects to recover the entire amortized cost basis of these securities. Cost-method investments At December 31, 2015 , cost-method investments with an aggregate cost of $1.4 million were not evaluated for impairment because the Company did not identify any events or changes in circumstances that may have a significant adverse effect on the fair value of these cost-method investments. The carrying values of the Company’s investment securities could decline in the future if the financial condition of an issuer deteriorates and the Company determines it is probable that it will not recover the entire amortized cost basis for the security. As a result, there is a risk that significant other-than-temporary impairment charges may occur in the future. Other-Than-Temporarily Impaired Securities Credit-impaired debt securities are debt securities where the Company has written down the amortized cost basis of a security for other-than-temporary impairment and the credit component of the loss is recognized in earnings. At December 31, 2015 and 2014 , respectively, the Company had no credit-impaired debt securities and there were no additions or reductions in the credit loss component of credit-impaired debt securities during the years ended D ecember 31, 2015 and 2014 , respectively. Other -Than-Temporary Impairment The following table presents details of the other-than-temporary impairment related to securities. Year ended December 31 (Dollars in thousands) 2015 2014 Other-than-temporary impairment charges (included in earnings): Debt securities: Agency RMBS $ — 333 Total debt securities $ — 333 Total other-than-temporary impairment charges (included in earnings) $ — 333 Other-than-temporary impairment on debt securities: Recorded as part of gross realized losses: Securities with intent to sell $ — 333 Total other-than-temporary impairment on debt securities $ — 333 Realized Gains and Losses The following table presents the gross realized gains and losses on sales and other-than-temporary impairment charges related to securities. Year ended December 31 (Dollars in thousands) 2015 2014 Gross realized gains $ 16 467 Gross realized losses — (664) Realized gains (losses), net $ 16 (197) |
Loan and Allowance for Loan Los
Loan and Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2015 | |
Loans And Leases Receivable Disclosure [Abstract] | |
Loans and leases receivable disclosure [Text Block] | NOTE 6 : LOANS AND ALLOWANCE FOR LOAN LOSSES December 31 (In thousands) 2015 2014 Commercial and industrial $ 52,479 $ 54,329 Construction and land development 43,694 37,298 Commercial real estate: Owner occupied 46,602 52,296 Other 157,251 139,710 Total commercial real estate 203,853 192,006 Residential real estate: Consumer mortgage 70,009 66,489 Investment property 46,664 41,152 Total residential real estate 116,673 107,641 Consumer installment 10,220 12,335 Total loans 426,919 403,609 Less: unearned income (509) (655) Loans, net of unearned income $ 426,410 $ 402,954 Loans secured by real estate were approximately 85.3% of the total loan portfolio at December 31, 2015 . At December 31, 2015 , the Company’s geographic loan distribution was concentrated primarily in Lee County, Alabama and surrounding areas. In accordance with ASC 310, Receivables , a portfolio segment is defined as the level at which an entity develops and documents a systematic method for determining its allowance for loan losses. As part of the Company’s quarterly assessment of the allowance , the loan portfolio is disaggregated into the following portfolio segments: commercial and industrial, construction and land development, commercial real estate, residential real estate and consumer installment. Where appropriate, the Company’s loan port folio segments are further disaggregated into classes. A class is generally determined based on the initial measurement attribute, risk characteristics of the loan, and an entity’s method for monitoring and determining credit risk. The following describe the risk characteristics relevant to each of the portfolio segments. Commercial and industrial (“C&I”) — includes loans to finance business operations, equipment purchases, or other needs for small and medium-sized commercial customers. Also included in t his category are loans to finance agricultural production. Generally the primary source of repayment is the cash flow from business operations and activities of the borrower. Construction and land development (“C&D”) — includes both loans and credit line s for the purpose of purchasing, carrying and developing land into commercial developments or residential subdivisions. Also included are loans and lines for construction of residential, multi-family and commercial buildings. Generally the primary source o f repayment is dependent upon the sale or refinance of the real estate collateral. Commercial real estate (“CRE”) — includes loans disaggregated into two classes: (1) owner occupied and (2) other. Owner occupied – includes loans secured by business faci lities to finance business operations, equipment and owner-occupied facilities primarily for small and medium-sized commercial customers. Generally the primary source of repayment is the cash flow from business operations and activities of the borrower, w ho owns the property. Other – primarily includes loans to finance income-producing commercial and multi-family properties. Loans in this class include loans for neighborhood retail centers, hotels, medical and professional offices, single retail stores, in dustrial buildings, warehouses and apartments leased generally to local businesses and residents. Generally the primary source of repayment is dependent upon income generated from the real estate collateral. The underwriting of these loans takes into consi deration the occupancy and rental rates as well as the financial health of the borrower. R esidential real estate (“RRE”) — includes loans disaggregated into two classes: (1) consumer mortgage and (2) investment property. Consumer mortgage – primaril y i nclude s first or second lien mortgages and home equity lines to consumers that are secured by a primary residence or second home. These loans are underwritten in accordance with the Bank’s general loan policies and procedures which require, among other things, proper documentation of each borrower’s financial condition, satisfactory cre dit history and property value. Investment property – primarily includes loans to finance income-producing 1-4 family residential properties. Generally the primary source of repayment is dependent upon income generated from leasing the property securing the loan. The underwriting of these loans takes into consideration the rental rates as well as the financial health of the borrower. Consumer installment — includes loans to indivi duals both secured by personal property and unsecured. Loans include personal lines of credit, automobile loans, and other retail loans. These loans are underwritten in accordance with the Bank’s general loan policies and procedures which require, among other things, proper documentation of each borrower’s financial condition, satisfactory credit history, and if applicable, property value. The following is a summary of current, accruing past due and nonaccrual loans by portfolio class as of December 31, 2015 and 2014 . Accruing Accruing Total 30-89 Days Greater than Accruing Non- Total (In thousands) Current Past Due 90 days Loans Accrual Loans December 31, 2015: Commercial and industrial $ 52,387 49 — 52,436 43 $ 52,479 Construction and land development 43,111 — — 43,111 583 43,694 Commercial real estate: Owner occupied 46,372 — — 46,372 230 46,602 Other 155,731 — — 155,731 1,520 157,251 Total commercial real estate 202,103 — — 202,103 1,750 203,853 Residential real estate: Consumer mortgage 68,579 1,105 — 69,684 325 70,009 Investment property 46,435 229 — 46,664 — 46,664 Total residential real estate 115,014 1,334 — 116,348 325 116,673 Consumer installment 10,179 28 — 10,207 13 10,220 Total $ 422,794 1,411 — 424,205 2,714 $ 426,919 December 31, 2014: Commercial and industrial $ 54,106 168 — 54,274 55 $ 54,329 Construction and land development 36,483 210 — 36,693 605 37,298 Commercial real estate: Owner occupied 51,832 201 — 52,033 263 52,296 Other 139,710 — — 139,710 — 139,710 Total commercial real estate 191,542 201 — 191,743 263 192,006 Residential real estate: Consumer mortgage 64,713 1,736 — 66,449 40 66,489 Investment property 40,503 495 — 40,998 154 41,152 Total residential real estate 105,216 2,231 — 107,447 194 107,641 Consumer installment 12,290 45 — 12,335 — 12,335 Total $ 399,637 2,855 — 402,492 1,117 $ 403,609 The gross interest income which would have been recorded under the original terms of those nonaccrual loans had they been accruing interest, amounted to approximately $133 thousand and $102 thousand for the years ended December 31, 2015 and 2014 , respectively. Allowance for Loan Losses The allowance for loan losses as of and for the years ended December 31, 2015 and 2014 , is presented below. Year ended December 31 (In thousands) 2015 2014 Beginning balance $ 4,836 $ 5,268 Charged-off loans (1,114) (808) Recovery of previously charged-off loans 367 326 Net charge-offs (747) (482) Provision for loan losses 200 50 Ending balance $ 4,289 $ 4,836 The Company assesses the adequacy of its allowance for loan losses prior to the end of each calendar quarter. The level of the allowance is based upon management’s evaluation of the loan portfolio, past loan loss experience, current asset quality trends, known and inherent risks in the portfolio, adverse situations that may affect a borrower’s ability to repay (including the timing of future payment), the estimated value of any underlying collateral, composition of the loan portfolio, economic conditions, industry and peer bank loan loss rates and other pertinent factors, including regulatory recommendations. This evaluation is inherently subjective as it requires material estimates including the amounts and timing of future cash flows expected to be receiv ed on impaired loans that may be susceptible to significant change. Loans are charged off, in whole or in part, when management believes that the full collectability of the loan is unlikely. A loan may be partially charged-off after a “confirming event” ha s occurred which serves to validate that full repayment pursuant to the terms of the loan is unlikely. The Company deems loans impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts d ue according to the contractual terms of the loan agreement. Collection of all amounts due according to the contractual terms means that both the interest and principal payments of a loan will be collected as scheduled in the loan agreement. An impairment allowance is recognized if the fair value of the loan is less than the recorded investment in the loan. The impairment is recognized through the allowance. Loans that are impaired are recorded at the present value of expected future cash flows discounted at the loan’s effective interest rate, or if the loan is collateral dependent, impairment measurement is based on the fair value of the collateral, less estimated disposal costs. The level of allowance maintained is believed by management to be adequate t o absorb probable losses inherent in the portfolio at the balance sheet date. The allowance is increased by provisions charged to expense and decreased by charge-offs, net of recoveries of amounts previously charged-off. In assessing the adequacy of the a llowance, the Company also considers the results of its ongoing internal, independent loan review process. The Company’s loan review process assists in determining whether there are loans in the portfolio whose credit quality has weakened over time and eva luating the risk characteristics of the entire loan portfolio. The Company’s loan review process includes the judgment of management, the input from our independent loan reviewers, and reviews that may have been conducted by bank regulatory agencies as par t of their examination process. The Company incorporates loan review results in the determination of whether or not it is probable that it will be able to collect all amounts due according to the contractual terms of a loan. As part of the Company’s quart erly assessment of the allowance, management divides the loan portfolio into five segments: commercial and industrial, construction and land development, commercial real estate, residential real estate, and consumer installment loans. The Company analyzes each segment and estimates an allowance allocation for each loan segment. The allocation of the allowance for loan losses begins with a process of estimating the probable losses inherent for these types of loans. The estimates for these loans are establis hed by category and based on the Company’s internal system of credit risk ratings and historical loss data. The estimated loan loss allocation rate for the Company’s internal system of credit risk grades is based on its experience with similarly graded loa ns. For loan segments where the Company believes it does not have sufficient historical loss data, the Company may make adjustments based, in part, on loss rates of peer bank groups. At December 31, 2015 and 2014 , and for the years then ended, the Co mpany adjusted its historical loss rates for the commercial real estate portfolio segment based, in part, on loss rates of peer bank groups. The estimated loan loss allocation for all five loan portfolio segments is then adjusted for management’s estim ate of probable losses for several “qualitative and environmental” factors. The allocation for qualitative and environmental factors is particularly subjective and does not lend itself to exact mathematical calculation. This amount represents estimated pro bable inherent credit losses which exist, but have not yet been identified, as of the balance sheet date, and are based upon quarterly trend assessments in delinquent and nonaccrual loans, credit concentration changes, prevailing economic conditions, chang es in lending personnel experience, changes in lending policies or procedures and other influencing factors. These qualitative and environmental factors are considered for each of the five loan segments and the allowance allocation, as determined by the pr ocesses noted above, is increased or decreased based on the incremental assessment of these factors. The Company regularly re-evaluates its practices in determining the allowance for loan losses. During 2014, the Company implemented certain refinements to its allowance for loan losses methodology in order to better capture the effects of the most recent economic cycle on the Company’s loan loss experience. Beginning with the quarter ended June 30, 2014, the Company began calculating average losses for all loan segments using a rolling 20 quarter historical period and continued this methodology through December 31, 2015. Prior to June 30, 2014 the Company calculated average losses for all loan segments using a rolling 8 quarter historical period (except fo r commercial real estate loan segment which used a 6 quarter historic period). If the Company continued to calculate average losses for all loan segments other than commercial real estate using a rolling 8 quarter historical period and for the commercial real estate segment using a rolling 6 quarter historical period, the Company’s calculated allowance for loan loss allocation would have decreased by approximately $ 1.0 million at June 30, 2014. Other than the changes discussed above, the Company has not made any material changes to its calculation of historical loss periods that would impact the calculation of the all owance for loan losses or provision for loan losses for the periods included in the accompanying consolidated balance sheets and statements of earnings. The following table details the changes in the allowance for loan losses by portfolio segment for the years ended December 31, 2015 and 2014 . (in thousands) Commercial and industrial Construction and land Development Commercial Real Estate Residential Real Estate Consumer Installment Total Balance, December 31, 2013 $ 386 366 3,186 1,114 216 $ 5,268 Charge-offs (46) (235) — (438) (89) (808) Recoveries 71 8 119 112 16 326 Net recoveries (charge-offs) 25 (227) 119 (326) (73) (482) Provision 228 835 (1,377) 331 33 50 Balance, December 31, 2014 $ 639 974 1,928 1,119 176 $ 4,836 Charge-offs (100) — (866) (89) (59) (1,114) Recoveries 22 17 — 313 15 367 Net (charge-offs) recoveries (78) 17 (866) 224 (44) (747) Provision (38) (322) 817 (284) 27 200 Balance, December 31, 2015 $ 523 669 1,879 1,059 159 $ 4,289 The following table presents an analysis of the allowance for loan losses and recorded investment in loans by portfolio segment and impairment methodology as of December 31, 2015 and 2014 . Collectively evaluated (1) Individually evaluated (2) Total Allowance Recorded Allowance Recorded Allowance Recorded for loan investment for loan investment for loan investment (In thousands) losses in loans losses in loans losses in loans December 31, 2015: Commercial and industrial $ 523 52,431 — 48 523 52,479 Construction and land development 669 43,111 — 583 669 43,694 Commercial real estate 1,758 201,077 121 2,776 1,879 203,853 Residential real estate 1,059 116,673 — — 1,059 116,673 Consumer installment 159 10,220 — — 159 10,220 Total $ 4,168 423,512 121 3,407 4,289 426,919 December 31, 2014: Commercial and industrial $ 639 54,259 — 70 639 54,329 Construction and land development 974 36,693 — 605 974 37,298 Commercial real estate 1,734 190,306 194 1,700 1,928 192,006 Residential real estate 1,119 106,745 — 896 1,119 107,641 Consumer installment 176 12,335 — — 176 12,335 Total $ 4,642 400,338 194 3,271 4,836 403,609 (1) Represents loans collectively evaluated for impairment in accordance with ASC 450-20, Loss Contingencies (formerly FAS 5), and pursuant to amendments by ASU 2010-20 regarding allowance for unimpaired loans. (2) Represents loans individually evaluated for impairment in accordance with ASC 310-30, Receivables (formerly FAS 114), and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans. Credit Quality Indicators The credit quality of the loan portfolio is summarized no less frequently than quarterly using categories similar to the standard asset classification system used by the federal banking agencies. The following table presents credit quality indicators for the loan portfolio segments and classes. These categories are utilized to develop the associated allowance for loan losses using historical losses adjusted for qualitative and environmental factors and are defined as follows: Pass – loans which are well p rotected by the current net worth and paying capacity of the obligor (or guarantors, if any) or by the fair value, less cost to acquire and sell, of any underlying collateral. Special Mention – loans with potential weakness that may, if not reversed or c orrected, weaken the credit or inadequately protect the Company’s position at some future date. These loans are not adversely classified and do not expose an institution to sufficient risk to warrant an adverse classification. Substandard Accruing – loans that exhibit a well-defined weakness which presently jeopardizes debt repayment, even though they are currently performing. These loans are characterized by the distinct possibility that the Company may incur a loss in the future if these weaknesses are not corrected. Nonaccrual – includes loans where management has determined that full payment of principal and interest is in doubt. (In thousands) Pass Special Mention Substandard Accruing Nonaccrual Total loans December 31, 2015 Commercial and industrial $ 48,038 4,075 323 43 $ 52,479 Construction and land development 42,458 60 593 583 43,694 Commercial real estate: Owner occupied 45,772 381 219 230 46,602 Other 155,423 36 272 1,520 157,251 Total commercial real estate 201,195 417 491 1,750 203,853 Residential real estate: Consumer mortgage 64,502 1,964 3,218 325 70,009 Investment property 45,399 112 1,153 — 46,664 Total residential real estate 109,901 2,076 4,371 325 116,673 Consumer installment 10,038 55 114 13 10,220 Total $ 411,630 6,683 5,892 2,714 $ 426,919 December 31, 2014 Commercial and industrial $ 49,550 4,348 376 55 $ 54,329 Construction and land development 35,911 226 556 605 37,298 Commercial real estate: Owner occupied 49,900 1,905 228 263 52,296 Other 136,801 2,253 656 — 139,710 Total commercial real estate 186,701 4,158 884 263 192,006 Residential real estate: Consumer mortgage 59,646 1,912 4,891 40 66,489 Investment property 39,348 624 1,026 154 41,152 Total residential real estate 98,994 2,536 5,917 194 107,641 Consumer installment 12,200 21 114 — 12,335 Total $ 383,356 11,289 7,847 1,117 $ 403,609 Impaired loans The following table presents details related to the Company’s impaired loans. Loans which have been fully charged-off do not appear in the following table. The related allowance generally represents the following components which correspond to impaired loans: Individually evaluated impaired loans equal to or greater than $500 thousand secured by real estate (nonaccrual construction and land development, commercial real estate, and residential real estate). Individually evaluate d impaired loans equal to or greater than $250 thousand not secured by real estate (nonaccrual commercial and industrial and consumer loans). The following table sets forth certain information regarding the Company’s impaired loans that were individuall y evaluated for impairment at December 31, 2015 and 2014 . December 31, 2015 (In thousands) Unpaid principal balance (1) Charge-offs and payments applied (2) Recorded investment (3) Related allowance With no allowance recorded: Commercial and industrial $ 48 — 48 Construction and land development 2,582 (1,999) 583 Commercial real estate: Owner occupied 308 (78) 230 Other 2,136 (617) 1,519 Total commercial real estate 2,444 (695) 1,749 Total $ 5,074 (2,694) 2,380 With allowance recorded: Commercial real estate: Owner occupied 1,027 — 1,027 121 Total commercial real estate 1,027 — 1,027 121 Total $ 1,027 — 1,027 $ 121 Total impaired loans $ 6,101 (2,694) 3,407 $ 121 (1) Unpaid principal balance represents the contractual obligation due from the customer. (2) Charge-offs and payments applied represents cumulative charge-offs taken, as well as interest payments that have been applied against the outstanding principal balance. (3) Recorded investment represents the unpaid principal balance less charge-offs and payments applied; it is shown before any related allowance for loan losses. December 31, 2014 (In thousands) Unpaid principal balance (1) Charge-offs and payments applied (2) Recorded investment (3) Related allowance With no allowance recorded: Commercial and industrial $ 70 — 70 Construction and land development 2,822 (2,217) 605 Commercial real estate: Owner occupied 331 (68) 263 Total commercial real estate 331 (68) 263 Residential real estate: Consumer mortgages 934 (192) 742 Investment property 180 (26) 154 Total residential real estate 1,114 (218) 896 Total $ 4,337 (2,503) 1,834 With allowance recorded: Commercial real estate: Owner occupied $ 846 — 846 $ 102 Other 591 — 591 92 Total commercial real estate 1,437 — 1,437 194 Total $ 1,437 — 1,437 $ 194 Total impaired loans $ 5,774 (2,503) 3,271 $ 194 (1) Unpaid principal balance represents the contractual obligation due from the customer. (2) Charge-offs and payments applied represents cumulative charge-offs taken, as well as interest payments that have been applied against the outstanding principal balance. (3) Recorded investment represents the unpaid principal balance less charge-offs and payments applied; it is shown before any related allowance for loan losses. The following table provides the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans after impairment by portfolio segment and class. Year ended December 31, 2015 Year ended December 31, 2014 Average Total interest Average Total interest recorded income recorded income (In thousands) investment recognized investment recognized Impaired loans: Commercial and industrial $ 60 4 $ 98 7 Construction and land development 603 — 1,032 — Commercial real estate: Owner occupied 1,328 62 1,308 40 Other 911 18 872 29 Total commercial real estate 2,239 80 2,180 69 Residential real estate: Consumer mortgages 349 173 731 43 Investment property 70 76 164 — Total residential real estate 419 249 895 43 Total $ 3,321 333 $ 4,205 119 Interest income recognized for 2015 included interest recoveries of $225 thousand related to two impaired residential real estate loans that paid off in June 2015. Excluding the interest recoveries on these two loans, interest income recognized on impaired loans for 2015 would have been $108 thousand. Troubled Debt Restructurings Impaired loans also include troubled debt restructurings (“TDRs”). In the normal course of business, management may grant concessions to borrowers who are experiencing financial difficulty. A concession may include, but is not limited to, delays in required payments of principal and interest for a specified period, reduction of the stated interest rate of the loan, reduction of accrued interest, extens ion of the maturity date or reduction of the face amount or maturity amount of the debt. A concession has been granted when, as a result of the restructuring, the Bank does not expect to collect all amounts due, including interest at the original stated r ate. A concession may have also been granted if the debtor is not able to access funds elsewhere at a market rate for debt with similar risk characteristics as the restructured debt. In determining whether a loan modification is a TDR, the Company consid ers the individual facts and circumstances surrounding each modification. In determining the appropriate accrual status at the time of restructure, the Company evaluates whether a restructured loan has adequate collateral protection, among other factors. Similar to other impaired loans, TDRs are measured for impairment based on the present value of expected payments using the loan’s original effective interest rate as the discount rate, or the fair value of the collateral, less selling costs if the loa n is collateral dependent. If the recorded investment in the loan exceeds the measure of fair value, impairment is recognized by establishing a valuation allowance as part of the allowance for loan losses or a charge-off to the allowance for loan losses. In periods subsequent to the modification, all TDRs are evaluated individually, including those that have payment defaults, for possible impairment. The following is a summary of accruing and nonaccrual TDRs and the related loan losses, by portfolio segme nt and class. TDRs Related (In thousands) Accruing Nonaccrual Total Allowance December 31, 2015 Commercial and industrial $ 48 — 48 $ — Construction and land development — 582 582 — Commercial real estate: Owner occupied 1,027 230 1,257 121 Total commercial real estate 1,027 230 1,257 121 Total $ 1,075 812 1,887 $ 121 December 31, 2014 Commercial and industrial $ 70 — 70 $ — Construction and land development — 605 605 — Commercial real estate: Owner occupied 846 263 1,109 102 Other 591 — 591 92 Total commercial real estate 1,437 263 1,700 194 Residential real estate: Consumer mortgages 742 — 742 — Investment property — 154 154 — Total residential real estate 742 154 896 — Total $ 2,249 1,022 3,271 $ 194 At December 31, 2015 , there were no significant outstanding commitments to advance additional funds to customers whose loans had been restructured. The following table summarizes loans modified in a TDR during the respective years both before and after modification. Pre- Post- modification modification outstanding outstanding Number of recorded recorded ($ in thousands) contracts investment investment December 31, 2015 Commercial and industrial 1 $ 61 66 Construction and land development 1 116 113 Commercial real estate: Owner occupied 1 216 218 Other 1 592 592 Total commercial real estate 2 808 810 Total 4 $ 985 989 December 31, 2014 Commercial real estate: Other 1 $ 590 592 Total commercial real estate 1 590 592 Residential real estate: Consumer mortgages 1 712 712 Total residential real estate 1 712 712 Total 2 $ 1,302 1,304 The majority of the loans modified in a TDR during the years ended December 31, 2015 and 2014 , respectively, included delays in required payments of principal and/or interest or where the only concession granted by the Company was that the interest rate at renewal was not considered to be a market rate. The following table summarizes the recorded investment in loans modifi ed in a TDR within the previous twelve months for which there was a payment default (defined as 90 days or more past due) during the respective years. Number of Recorded ($ in thousands) Contracts investment (1) December 31, 2015 Commercial real estate: Owner occupied 1 $ 262 Total commercial real estate 1 262 Residential real estate: Investment property 1 150 Total residential real estate 1 150 Total 2 $ 412 December 31, 2014 Commercial real estate: Owner occupied 1 $ 272 Total commercial real estate 1 272 Total 1 $ 272 (1) Amount as of applicable month end during the respective year for which there was a payment default. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
Premises and Equipment [Abstract] | |
Premises and Equipment Text Block | NOTE 7 : PREMISES AND EQUIPMENT Premises and equipment at December 31, 2015 and 2014 is presented below December 31 (Dollars in thousands) 2015 2014 Land $ 6,106 5,916 Buildings and improvements 9,448 8,606 Furniture, fixtures, and equipment 3,159 3,214 Total premises and equipment 18,713 17,736 Less: accumulated depreciation (6,847) (6,929) Premises and equipment, net $ 11,866 10,807 Depreciation expense was approximately $ 475 thousand and $380 thousand for the years ended December 31, 2015 and 2014 , respectively , and is a component of net occupancy and equipment expense in the consolidated statements of earnings . |
Mortgage Servicing Rights, Net
Mortgage Servicing Rights, Net | 12 Months Ended |
Dec. 31, 2015 | |
Mortgage Servicing [Abstract] | |
Transfers and Servicing of Financial Assets [Text Block] | NOTE 8 : MORTGAGE SERVICING RIGHTS, NET Mortgage servicing rights (“MSRs”) are recognized based on the fair value of the servicing rights on the date the corresponding mortgage loans are sold. An estimate of the Company’s MSRs is determined using assumptions that market participants would use in estimating future net servicing income, including estimates of prepayment speeds, discount rate, default rates, cost to service, escrow account earnings, contractual servicing fee income, ancillary income, and late fees. Subsequent to the date of transfer, the Company has elected to measure its MSRs under the amortization method. Under the amortization method, MSRs are amortized in proportion to, and over the period of, estimated net servicing income. Serv icing fee income is recorded net of related amortization expense and recognized in earnings as part of mortgage lending income. The Company has recorded MSRs related to loans sold without recourse to Fannie Mae. The Company generally sells conforming, f ixed-rate, closed-end, residential mortgages to Fannie Mae. MSRs are included in other assets on the accompanying consolidated balance sheets. The Company evaluates MSRs for impairment on a quarterly basis. Impairment is determined by stratifying MSRs i nto groupings based on predominant risk characteristics, such as interest rate and loan type. If, by individual stratum, the carrying amount of the MSRs exceeds fair value, a valuation allowance is established. The valuation allowance is adjusted as the fair value changes. Changes in the valuation allowance are recognized in earnings as a component of mortgage lending income. The following table details the changes in amortized MSRs and the related valuation allowance for the years ended December 31, 2015 and 2014 . Year ended December 31 (Dollars in thousands) 2015 2014 Beginning balance $ 2,388 2,350 Additions, net 529 465 Amortization expense (654) (374) Change in valuation allowance 53 (53) Ending balance $ 2,316 2,388 Valuation allowance included in MSRs, net: Beginning of period $ 53 — End of period — 53 Fair value of amortized MSRs: Beginning of period $ 3,238 3,452 End of period 3,086 3,238 Data and assumptions used in the fair value calculation related to MSRs at December 31, 2015 and 2014 , respectively, are presented below. December 31 (Dollars in thousands) 2015 2014 Unpaid principal balance $ 358,928 360,956 Weighted average prepayment speed (CPR) 10.0 % 9.6 Discount rate (annual percentage) 10.0 % 10.0 Weighted average coupon interest rate 3.9 % 3.9 Weighted average remaining maturity (months) 266 267 Weighted average servicing fee (basis points) 25.0 25.0 At December 31 , 2015 , the weighted average amortization period for MSRs was 6.1 years. Estimated amortization expense for each of the next five years is presented below. (Dollars in thousands) December 31, 2015 2016 $ 348 2017 298 2018 256 2019 216 2020 187 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2015 | |
Deposits: | |
Deposits Text Block | NOTE 9 : DEPOSITS At December 31, 2015 , the scheduled maturities of certificates of deposit and other time deposits are presented below. (Dollars in thousands) December 31, 2015 2016 $ 95,611 2017 56,854 2018 24,366 2019 33,027 2020 9,567 Thereafter 173 Total certificates of deposit and other time deposits $ 219,598 Additionally, at December 31, 2015 and 2014 , approximately $59.6 million and $62.4 million, respectively, of certificates of deposit and other time deposits were issued in denominations of $250 thousand or greater. At December 31, 2015 and 2014 , the amount of deposit accounts in overdraft status that were reclassified to loans on the accompanying consolidated balance sheets was not material. |
Short-term Borrowings
Short-term Borrowings | 12 Months Ended |
Dec. 31, 2015 | |
Short-term Debt: | |
Short-term Debt Text Block | NOTE 10 : SHORT-TERM BORROWINGS At December 31, 2015 and 2014 , the composition of short-term borrowing s is presented below. 2015 2014 Weighted Weighted (Dollars in thousands) Amount Avg. Rate Amount Avg. Rate Federal funds purchased: As of December 31 $ — — $ — — Average during the year 16 0.90 % 16 0.90 % Maximum outstanding at any month-end — — Securities sold under agreements to repurchase: As of December 31 $ 2,951 0.50 % $ 4,681 0.50 % Average during the year 3,585 0.50 % 3,797 0.50 % Maximum outstanding at any month-end 4,806 4,681 Federal funds purchased represent unsecured overnight borrowings from other financial institutions by the Bank. The Bank had available federal fund lines totaling $41 .0 million with none outstanding at December 31, 2015 . Securities sold under agreements to repurchase represent short-term borrowings with maturities less than one year collateralized by a portion of the Company’s securities portfolio. Securities with an aggregate carrying value of $6.3 million and $6.7 million at December 31, 2015 and 2014 , respectively, were pledged to secure securities sold under agreements to repurchase. |
Long-term Debt
Long-term Debt | 12 Months Ended |
Dec. 31, 2015 | |
Long-term debt: | |
Long-term Debt Text Block | NOTE 11 : LONG -TERM DEBT At December 31, 2015 and 2014 , the composition of long-term debt is presented below. 2015 2014 Weighted Weighted (Dollars in thousands) Amount Avg. Rate Amount Avg. Rate FHLB advances, due 2018 $ — — % $ 5,000 3.59 % Subordinated debentures, due 2033 7,217 3.63 7,217 3.38 Total long-term debt $ 7,217 3.63 % $ 12,217 3.47 % The Bank had no FHLB advances with original maturities greater than one year at December 31, 2015 and $5.0 million at December 31, 2014 . Certain qualifying residential mortgage loans with an aggregate carrying value of $31.9 million and $35.4 million at December 31, 2015 and 2014 , respectively, were pledged to secure long-term FHLB advances. The Company formed Auburn National Bancorporation Capital Trust I, a wholly-owned statutory business trust, in 2003. The Trust issued $7.0 million of trust preferred securities that were sold to third parties. The proceeds from the sale of the trust preferred securities and trust common securities that we hold, were used to purchase subordinated debentures of $7.2 million from t he Company, which are presented as long-term debt in the consolidated balance sheets and qualify for inclusion in Tier 1 capital for regulatory capital purposes, subject to certain limitations. The debentures mature on December 31, 2033 and have been rede emable since December 31, 2008. The following is a schedule of contractual maturities of long-term debt: (Dollars in thousands) 2015 2016 2017 2018 2019 Thereafter Total Subordinated debentures — — — — — 7,217 7,217 Total long-term debt $ — — — — — 7,217 7,217 |
Other Comprehensive Income Disc
Other Comprehensive Income Disclosure | 12 Months Ended |
Dec. 31, 2015 | |
Other Comprehensive Income Loss [Abstract] | |
Other Comprehensive Income (Loss) [Text Block] | NOTE 12 : OTHER COMPREHENSIVE INCOME (LOSS) Comprehensive income is defined as the change in equity from all transactions other than those with stockholders , and it includes net earnings and other comprehensive income (loss). Other comprehensive income (loss) for the years ended December 31, 2015 and 2014 , is presented below. Pre-tax Tax benefit Net of (In thousands) amount (expense) tax amount 2015: Unrealized net holding loss on all other securities $ (785) 289 (496) Reclassification adjustment for net gain on securities recognized in net earnings (16) 6 (10) Other comprehensive loss $ (801) 295 (506) 2014: Unrealized net holding gain on all other securities $ 10,553 (3,893) 6,660 Reclassification adjustment for net loss on securities recognized in net earnings 530 (195) 335 Other comprehensive income $ 11,083 (4,088) 6,995 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Taxes | |
Income Taxes Text Block | NOTE 13 : INCOME TAXES For the years ended December 31, 2015 and 2014 the components of income tax expense from continuing operations are presented below. Year ended December 31 (Dollars in thousands) 2015 2014 Current income tax expense: Federal $ 1,805 1,601 State 395 397 Total current income tax expense 2,200 1,998 Deferred income tax expense: Federal 586 731 State 34 55 Total deferred income tax expense 620 786 Total income tax expense $ 2,820 2,784 Total income tax expense differs from the amounts computed by applying the statutory federal income tax rate of 34% to earnings before income taxes. A reconciliation of the differences for the years ended December 31, 2015 and 2014 , is presented below. 2015 2014 Percent of Percent of pre-tax pre-tax (Dollars in thousands) Amount earnings Amount earnings Earnings before income taxes $ 10,678 10,232 Income taxes at statutory rate 3,631 34.0 % 3,479 34.0 % Tax-exempt interest (873) (8.1) (803) (7.8) State income taxes, net of federal tax effect 280 2.6 295 2.9 Bank-owned life insurance (254) (2.4) (170) (1.7) Other 36 0.3 (17) (0.2) Total income tax expense $ 2,820 26.4 % 2,784 27.2 % The Company had net deferred tax assets of $0.2 million and $0.5 million at December 31, 2015 and 2014 , respectively, included in other assets on the consolidated balance sheets . The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2015 and 2014 are presented below: December 31 (Dollars in thousands) 2015 2014 Deferred tax assets: Allowance for loan losses $ 1,583 1,784 Write-downs on other real estate owned 20 20 Tax credit carry-forwards 484 816 Other 519 480 Total deferred tax assets 2,606 3,100 Deferred tax liabilities: Premises and equipment 219 69 Unrealized gain on securities 1,132 1,427 Originated mortgage servicing rights 855 881 Other 205 204 Total deferred tax liabilities 2,411 2,581 Net deferred tax asset $ 195 519 A valuation allowance is recognized for a deferred tax asset if, based on the weight of available evidence, it is more-likely-than-not that some portion of the entire deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax pl anning strategies in making this assessment. Based upon the level of historical taxable income and projection for future taxable income over the periods which the temporary differences resulting in the remaining deferred tax assets are deductible, manageme nt believes it is more-likely-than-not that the Company will realize the benefits of these deductible differences at December 31, 2015 . The amount of the deferred tax assets considered realizable, however, could be reduced in the near term if estimates of future taxable income are reduced. The change in the net deferred tax asset for the years ended December 31, 2015 and 2014 , is presented below. Year ended December 31 (Dollars in thousands) 2015 2014 Net deferred tax asset: Balance, beginning of year $ 519 5,393 Deferred tax expense related to continuing operations (620) (786) Stockholders' equity, for accumulated other comprehensive loss (income) 296 (4,088) Balance, end of year $ 195 519 ASC 740, Income Taxes, defines the threshold for recognizing the benefits of tax return positions in the financial statements as “more-likely-than-not” to be sustained by the taxing authority. This section also provides guidance on the de-recognition, measurement, and classification of income tax uncertainties in interim periods. As of December 31, 2015 , the Company had no unrecognized tax benefits related to federal or state income tax matters. The Company does not anticipate any material increase or decrease in u nrecognized tax benefits during 2016 relative to any tax positions taken prior to December 31, 2015 . As of December 31, 2015 , the Company has accrued no interest and no penalties related to uncertain tax positions. It is the Company’s policy to rec ognize interest and penalties related to income tax matters in income tax expense. The Company and its subsidiaries file consolidated U.S. federal and State of Alabama income tax returns. The Company is currently open to audit under the statute of limi tations by the Internal Revenue Service and the State of Alabama for the years ended December 31, 2012 through 2015 . |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2015 | |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 14 : EMPLOYEE BENEFIT PLAN The Company has a 401(k) Plan that covers substantially all employees. Participants may contribute up to 10% of eligible compensation subject to certain limits based on federal tax laws. The Company’s matching contributions to the Plan are determined by the board of directors. Participants become 20% vested in their accounts after two years of service and 100% vested after six years of service. Company matching contributions to the Plan were $116 thousand and $122 thousand for the years ended December 31, 2015 and 2014 , respectively, and are included in salaries and benefits expense. |
Derivative Instruments
Derivative Instruments | 12 Months Ended |
Dec. 31, 2015 | |
Derivative instruments and hedging activities disclosure abstract | |
Derivative Instruments And Hedging Activities Disclosure Text Block | NOTE 15 : DERIVATIVE INSTRUMENTS Financial derivatives are reported at fair value in other assets or other liabilities on the accompanying Consolidated Balance Sheets. The accounting for changes in the fair value of a derivative depends on whether it has been designated and qualifies as part of a hedging relationship. For derivatives not designated as part of a hedging relationship, the gain or loss is recognized in current earnings within other noninterest income on the accompanying Consolidated Stat ements of Earnings. From time to time, the Company may enter into interest rate swaps (“swaps”) to facilitate customer transactions and meet their financing needs. Upon entering into these swaps, the Company enters into offsetting positions in order to min imize the risk to the Company. These swaps qualify as derivatives, but are not designated as hedging instruments. At December 31, 2015 and December 31, 2014 , the Company had no derivative contracts to assist in managing its own interest rate sensitivity. Interest rate swap ag reements involve the risk of dealing with counterparties and their ability to meet contractual terms. When the fair value of a derivative instrument is positive, this generally indicates that the counterparty or customer owes the Company, and results in cr edit risk to the Company. When the fair value of a derivative instrument contract is negative, the Company owes the customer or counterparty and therefore, has no credit risk. A summary of the Company’s interest rate swaps as of and for the years ended December 31, 2015 and 2014 is presented below. Other Other Other noninterest Assets Liabilities income Estimated Estimated Gains (Dollars in thousands) Notional Fair Value Fair Value (Losses) December 31, 2015: Pay fixed / receive variable $ 4,317 — 440 $ 194 Pay variable / receive fixed 4,317 440 — (194) Total interest rate swap agreements $ 8,634 440 440 $ — December 31, 2014: Pay fixed / receive variable $ 4,667 — 634 $ 210 Pay variable / receive fixed 4,667 634 — (210) Total interest rate swap agreements $ 9,334 634 634 $ — |
Commitments and Contigent Liabi
Commitments and Contigent Liabilities | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 16 : COMMITMENT S AND CONTINGEN T LIABILITIES Credit-Related Financial Instruments The Company is party to credit related 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 and standby letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The Company’s exposure to credit loss is represented by the contractual amount of these commitments. The Company follows the same credit policies in making commitments as it does for on-balance sheet instruments. At December 31, 2015 and 2014 , the following financial instruments were outstanding whose contract amount represents credit risk: December 31 (Dollars in thousands) 2015 2014 Commitments to extend credit $ 52,230 $ 49,824 Standby letters of credit 8,221 8,337 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the agreement. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The commitments for lines of credit may expire without being drawn upon. Therefore, total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if it is deemed necessary by the Company, is base d on management’s credit evaluation of the customer. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essenti ally the same as that involved in extending loan facilities to customers. The Company holds various assets as collateral, including accounts receivable, inventory, equipment, marketable securities, and property to support those commitments for which colla teral is deemed necessary. The Company has recorded a liability for the estimated fair value of these standby letters of credit in the amount of $69 thousand and $72 thousand at December 31, 2015 and 2014 , respectively. Other Commitments Minimum lease payments under leases classified as operating leases due in each of the five years subsequent to December 31, 2015 , are as follows: 2016, $220 thousand; 2017, $125 thousand; 2018, $35 thousand; 2019, $30 thousand; 2020, $3 thousand. Contingen t Liabilities The Company and the Bank are involved in various legal proceedings, arising in connection with their business. In the opinion of management, based upon consultation with legal counsel, the ultimate resolution of these proceeding will not ha ve a material adverse effect upon the consolidated financial condition or results of operations of the Company and the Bank. |
Fair Value Disclosures
Fair Value Disclosures | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures Text Block | NOTE 17 : FAIR VALUE Fair Value Hierarchy “Fair value” is defined by ASC 820, Fair Value Measurements and Disclosures , as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for an asset or liability at the measurement date. GAAP establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1—inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. Level 2—inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs that are observable fo r the asset or liability, either directly or indirectly. Level 3—inputs to the valuation methodology are unobservable and reflect the Company’s own assumptions about the inputs market participants would use in pricing the asset or liability. Level c hanges in fair value measurements Transfers between levels of the fair value hierarchy are generally recognized at the end of the reporting period. The Company monitors the valuation techniques utilized for each category of financial assets and liabilit ies to ascertain when transfers between levels have been affected. The nature of the Company’s financial assets and liabilities generally is such that transfers in and out of any level are expected to be infrequent. For the years ended December 31, 2015 and 2014 , there were no transfers between levels and no changes in valuation techniques for the Company’s financial assets and liabilities. Assets and liabilities measured at fair value on a recurring basis Securities available-for-sale Fair values of securiti es available for sale were primarily measured using Level 2 inputs. For these securities, the Company obtains pricing from third party pricing services. These third party pricing services consider observable data that may include broker/dealer quotes, ma rket spreads, cash flows, market consensus prepayment speeds, benchmark yields, reported trades for similar securities, credit information and the securities’ terms and conditions. On a quarterly basis, management reviews the pricing received from the thi rd party pricing services for reasonableness given current market conditions. As part of its review, management may obtain non-binding third party broker quotes to validate the fair value measurements. In addition, management will periodically submit pri cing provided by the third party pricing services to another independent valuation firm on a sample basis. This independent valuation firm will compare the price provided by the third party pricing service with its own price and will review the significan t assumptions and valuation methodologies used with management. Interest rate swap agreements The carrying amount of interest rate swap agreements was included in other assets and accrued expenses and other liabilities on the accompanying consolidated balance sheets. The fair value measurements for our interest rate swap agreements were based on information obtained from a third party bank. This information is periodically tested by the Company and validated against other third party valuations. If needed, other third party market participants may be utilized to corroborate the fair value measurements for our interest rate swap agreements. The Company classified these derivative assets and liabilities within Level 2 of the valuation hierarchy. These swaps qualify as derivatives, but are not designated as hedging instruments. The following table presents the balances of the assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 and 2014 , respectively, by caption, on th e accompanying consolidated balance sheets by ASC 820 valuation hierarchy (as described above). Quoted Prices in Significant Active Markets Other Significant for Observable Unobservable Identical Assets Inputs Inputs (Dollars in thousands) Amount (Level 1) (Level 2) (Level 3) December 31, 2015: Securities available-for-sale: Agency obligations $ 60,085 — 60,085 — Agency RMBS 110,954 — 110,954 — State and political subdivisions 70,648 — 70,648 — Total securities available-for-sale 241,687 — 241,687 — Other assets (1) 440 — 440 — Total assets at fair value $ 242,127 — 242,127 — Other liabilities (1) 440 — 440 — Total liabilities at fair value $ 440 — 440 — December 31, 2014: Securities available-for-sale: Agency obligations $ 60,249 — 60,249 — Agency RMBS 135,043 — 135,043 — State and political subdivisions 72,311 — 72,311 — Total securities available-for-sale 267,603 — 267,603 — Other assets (1) 634 — 634 — Total assets at fair value $ 268,237 — 268,237 — Other liabilities (1) 634 — 634 — Total liabilities at fair value $ 634 — 634 — (1) Represents the fair value of interest rate swap agreements. Assets and liabilities measured at fair value on a nonrecurring basis Loans held for sale Loans held for sale are carried at the lower of cost or fair value. Fair values of loans held for sale are determined using quoted market secondary market prices for similar loans. Loans held for sale are classified within Level 2 of the fair value hierarchy. Impaired Loans Loans considered impaired under ASC 310-10-35, Receivables , are loans for which, based on current information and events, it is probable that the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. Impaired loans can be measured based on the present value of expected payments using the loan’s original effective r ate as the discount rate, the loan’s observable market price, or the fair value of the collateral less selling costs if the loan is collateral dependent. The fair value of impaired loans were primarily measured based on the value of the collateral securi ng these loans. Impaired loans are classified within Level 3 of the fair value hierarchy. Collateral may be real estate and/or business assets including equipment, inventory, and/or accounts receivable. The Company determines the value of the collateral based on independent appraisals performed by qualified licensed appraisers. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Appraised values are discounted for c osts to sell and may be discounted further based on management’s historical knowledge, changes in market conditions from the date of the most recent appraisal, and/or management’s expertise and knowledge of the customer and the customer’s business. Such d iscounts by management are subjective and are typically significant unobservable inputs for determining fair value. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the sa me factors discussed above. Other real estate owned Other real estate owned, consisting of properties obtained through foreclosure or in satisfaction of loans, are initially recorded at the lower of the loan’s carrying amount or the fair value less cost s to sell upon transfer of the loans to other real estate. Subsequently, other real estate is carried at the lower of carrying value or fair value less costs to sell. Fair values are generally based on third party appraisals of the property and are class ified within Level 3 of the fair value hierarchy. The appraisals are sometimes further discounted based on management’s historical knowledge, and/or changes in market conditions from the date of the most recent appraisal, and/or management’s expertise and knowledge of the customer and the customer’s business. Such discounts are typically significant unobservable inputs for determining fair value. In cases where the carrying amount exceeds the fair value, less costs to sell, a loss is recognized in nonint erest expense. Mortgage servicing rights, net M ortgage servicing rights, net, included in other assets on the accompanying consolidated balance sheets, are carried at the lower of cost or estimated fair value. MSRs do not trade in an active market with readily observable prices. To determine the fair value of MSRs, the Company engages an independent third party. The independent third party’s valuation model calculates the present value of estimated future net servicing income using assumptions that mar ket participants would use in estimating future net servicing income, including estimates of prepayment speeds, discount rate, default rates, cost to service, escrow account earnings, contractual servicing fee income, ancillary income, and late fees. Peri odically, the Company will review broker surveys and other market research to validate significant assumptions used in the model. The significant unobservable inputs include prepayment speeds or the constant prepayment rate (“CPR”) and the weighted averag e discount rate. Because the valuation of MSRs requires the use of significant unobservable inputs, all of the Company’s MSRs are classified within Level 3 of the valuation hierarchy. The following table presents the balances of the assets and liabilities measured at fair value on a nonrecurring basis as of December 31, 2015 and 2014 , respectively, by caption, on the accompanying consolidated balance sheets and by ASC 820 valuation hierarchy (as described above): Quoted Prices in Active Markets Other Significant for Observable Unobservable Identical Assets Inputs Inputs (Dollars in thousands) Amount (Level 1) (Level 2) (Level 3) December 31, 2015: Loans held for sale $ 1,540 — 1,540 — Loans, net (1) 3,286 — — 3,286 Other real estate owned 252 — — 252 Other assets (2) 2,316 — — 2,316 Total assets at fair value $ 7,394 — 1,540 5,854 December 31, 2014: Loans held for sale $ 1,974 — 1,974 — Loans, net (1) 3,077 — — 3,077 Other real estate owned 534 — — 534 Other assets (2) 2,388 — — 2,388 Total assets at fair value $ 7,973 — 1,974 5,999 (1) Loans considered impaired under ASC 310-10-35 Receivables. This amount reflects the recorded investment in impaired loans, net of any related allowance for loan losses. (2) Represents MSRs, net, carried at lower of cost or estimated fair value. At December 31, 2015 and 2014 and for the years then ended, the Company had no Level 3 assets measured at fair value on a recurring basis. For Level 3 assets measured at fair value on a non-recurring basis as of December 31, 2015 , the significant unobservable inputs used in the fair value measurements are presented below. Weighted Carrying Average (Dollars in thousands) Amount Valuation Technique Significant Unobservable Input of Input Nonrecurring: Impaired loans $ 3,286 Appraisal Appraisal discounts (%) 25.7 % Other real estate owned 252 Appraisal Appraisal discounts (%) 6.0 % Mortgage servicing rights, net 2,316 Discounted cash flow Prepayment speed or CPR (%) 10.0 % Discount rate (%) 10.0 % Fair Value of Financial Instruments ASC 825, Financial Instruments , requires disclosure of fair value information about financial instruments, whether or not recognized on the face of the balance sheet, for which it is practicable to estimate that value. The assumptions used in the estimation of the fair value of the Company’s financial instruments are explained below. Where quoted market prices are not available, fair values are based on estimates using discounted cash flow analyses. Discounted cash flows can be significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. The following fair value estima tes cannot be substantiated by comparison to independent markets and should not be considered representative of the liquidation value of the Company’s financial instruments, but rather are a good-faith estimate of the fair value of financial instruments he ld by the Company. ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. The following methods and assumptions were used by the Company in estimating the fair value of its financial instruments: Loans, net Fair values for loans were calculated using discounted cash flows. The discount rates reflected current rates at which similar loans would be made for the same remaining maturities. This method of estimating fair value does not incorporate th e exit-price concept of fair value prescribed by ASC 820 and generally produces a higher value than an exit-price approach. Expected future cash flows were projected based on contractual cash flows, adjusted for estimated prepayments. Loans held for sale Fair values of loans held for sale are determined using quoted market secondary market prices for similar loans . Time Deposits Fair values for time deposits were estimated using discounted cash flows. The discount rates were based on rates currently offer ed for deposits with similar remaining maturities. Long-term debt The fair value of the Company’s fixed rate long-term debt is estimated using discounted cash flows based on estimated current market rates for similar types of borrowing arrangements. The carrying amount of the Company’s variable rate long-term debt approximates its fair value. The carrying value, related estimated fair value, and placement in the fair value hierarchy of the Company’s financial instruments at December 31, 2015 and 2014 are pre sented below. This table excludes financial instruments for which the carrying amount approximates fair value. Financial assets for which fair value approximates carrying value included cash and cash equivalents. Financial liabilities for which fair val ue approximates carrying value included noninterest-bearing demand, interest-bearing demand, and savings deposits due to these products having no stated maturity. In addition, financial liabilities for which fair value approximates carrying value included overnight borrowings such as federal funds purchased and securities sold under agreements to repurchase. Fair Value Hierarchy Carrying Estimated Level 1 Level 2 Level 3 (Dollars in thousands) amount fair value inputs inputs Inputs December 31, 2015: Financial Assets: Loans, net (1) $ 422,121 $ 427,340 $ — $ — $ 427,340 Loans held for sale 1,540 1,574 — 1,574 — Financial Liabilities: Time Deposits $ 219,598 $ 220,093 $ — $ 220,093 $ — Long-term debt 7,217 7,217 — 7,217 — December 31, 2014: Financial Assets: Loans, net (1) $ 398,118 $ 407,839 $ — $ — $ 407,839 Loans held for sale 1,974 2,044 — 2,044 — Financial Liabilities: Time Deposits $ 249,126 $ 251,365 $ — $ 251,365 $ — Long-term debt 12,217 12,558 — 12,558 — (1) Represents loans, net of unearned income and the allowance for loan losses. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE 18 : RELATED PARTY TRANSACTIONS A former director who retired from the Company’s board of directors in October 2015, is an officer in a construction company that the Company contracted with in 2015 and 2014 for limited renovations at the Bank’s operations center, the build out of leasehold improvements in connection with a relocation of a bank branch, and for construction of a new branch facility located in Auburn, Alabama. Total payments made to the construction company under the terms of these contracts were $1.2 million and $0.1 million for the years ended December 31, 2015 and 2014, respectively. The Bank has made, and expects in the future to continue to make in the ordinary course of business, loans to directors and executive officers of the Company, the Bank, and their affiliates. In management’s opinion, these loans were made in the ordinary course of business at normal credit terms, including interest rate and collateral requirements, and do not represent more than normal credit risk. An analysis of such outstanding loans is pres ented below. (Dollars in thousands) Amount Loans outstanding at December 31, 2014 $ 4,841 New loans/advances 1,428 Repayments (1,457) Changes in directors and executive officers (1,097) Loans outstanding at December 31, 2015 $ 3,715 During 2015 and 2014 , certain executive officers and directors of the Company and the Bank, including companies with which they are affiliated, were deposit customers of the bank. Total deposits for these persons at December 31, 2015 and 2014 amounted to $ 18.1 million and $22.0 million, respectively. |
Regulatory Restrictions and Cap
Regulatory Restrictions and Capital Ratios | 12 Months Ended |
Dec. 31, 2015 | |
Regulatory Capital Requirements [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 19 : REGULATORY RESTRICTIONS AND CAPITAL RATIOS The Company and the Bank are subject to various regulatory capital requirements and policies administered by federal and State of Alabama banking regulators. Failure to meet minimum capital requirements can initiate certain mandatory – and possibly additional discretionary – actions by regulators that, if undertaken, could have a material effect on the consolidated financial statements. Under capital adequacy guidelines and the regulatory fr amework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Company’s and Bank’s assets, liabilities, and certain off–balance sheet items as calculated under regulatory acco unting practices. The Company’s and Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors, including anticipated capital needs. Supervisory assessments o f capital adequacy may differ significantly from conclusions based solely upon risk-based capital ratios. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (s et forth in the table below) common equity Tier 1 ratio, Tier 1 leverage ratio, Tier 1 risk-based ratio and total risk-based ratio. Management believes, as of December 31, 2015 , that the Company and the Bank meet all capital adequacy requirements to w hich they are subject. As of December 31, 2015 , the Bank is “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized,” the Bank must maintain minimum common equity Tier 1, total risk- based, Tier 1 risk- based, and Tier 1 leverage ratios as set forth in the table. Management has not received any notification from the Company’s or the Bank's regulators that changes the Bank’s regulatory capital status. The actual capital amounts and ratios and the aforementioned minimums as of December 31, 2015 and 2014 are presented below. Minimum for capital Minimum to be Actual adequacy purposes well capitalized (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio At December 31, 2015: Common Equity Tier 1 Capital Auburn National Bancorporation $ 77,714 15.28 % $ 22,886 4.50 % N/A N/A AuburnBank 82,848 16.26 22,933 4.50 $ 33,125 6.50 Tier 1 Leverage Capital Auburn National Bancorporation $ 84,268 10.35 % $ 32,553 4.00 % N/A N/A AuburnBank 82,848 10.19 32,519 4.00 $ 40,649 5.00 % Tier 1 Risk-Based Capital Auburn National Bancorporation $ 84,268 16.57 % $ 30,515 6.00 % N/A N/A AuburnBank 82,848 16.26 30,577 6.00 $ 40,769 8.00 % Total Risk-Based Capital Auburn National Bancorporation $ 88,682 17.44 % $ 40,687 8.00 % N/A N/A AuburnBank 87,262 17.12 40,769 8.00 $ 50,962 10.00 % At December 31, 2014: Tier 1 Leverage Capital Auburn National Bancorporation $ 80,356 10.32 % $ 31,133 4.00 % N/A N/A AuburnBank 78,968 10.16 31,099 4.00 $ 38,873 5.00 % Tier 1 Risk-Based Capital Auburn National Bancorporation $ 80,356 17.45 % $ 18,419 4.00 % N/A N/A AuburnBank 78,968 17.11 18,463 4.00 $ 27,695 6.00 % Total Risk-Based Capital Auburn National Bancorporation $ 85,356 18.54 % $ 36,839 8.00 % N/A N/A AuburnBank 83,968 18.19 36,927 8.00 $ 46,158 10.00 % Dividends paid by the Bank are a principal source of funds available to the Company for payment of dividends to its stockholders and for other needs. Applicable federal and state statutes and regulations impose restrictions on the amounts of dividends that may be declared by the subsidiary bank. State law and Federal Reserve policy restrict the Bank from declaring dividends in excess of the sum of the current year’s earnings plus the retained net earnings from the preceding two years without prior appro val. In addition to the formal statutes and regulations, regulatory authorities also consider the adequacy of the Bank’s total capital in relation to its assets, deposits, and other such items. Capital adequacy considerations could further limit the availa bility of dividends from the Bank. At December 31, 2015 , the Bank could have declared additional dividends of approximately $12.3 million without prior approval of regulatory authorities. As a result of this limitation, approximately $73.2 million of th e Company’s investment in the Bank was restricted from transfer in the form of dividends. |
Auburn National Bancorporation
Auburn National Bancorporation - Parent Company Financials | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 20 : AUBURN NATIONAL BANCORPORATION (PARENT COMPANY) The Parent Company’s condensed balance sheets and related condensed statements of earnings and cash flows are as follows: CONDENSED BALANCE SHEETS December 31 (Dollars in thousands) 2015 2014 Assets: Cash and due from banks $ 2,187 2,311 Investment in bank subsidiary 85,529 81,410 Other assets 845 846 Total assets $ 88,561 84,567 Liabilities: Accrued expenses and other liabilities $ 1,395 1,551 Long-term debt 7,217 7,217 Total liabilities 8,612 8,768 Stockholders' equity 79,949 75,799 Total liabilities and stockholders' equity $ 88,561 84,567 CONDENSED STATEMENTS OF EARNINGS Year ended December 31 (Dollars in thousands) 2015 2014 Income: Dividends from bank subsidiary $ 3,450 3,377 Noninterest income 135 147 Total income 3,585 3,524 Expense: Interest expense 236 236 Noninterest expense 195 206 Total expense 431 442 Earnings before income tax benefit and equity in undistributed earnings of bank subsidiary 3,154 3,082 Income tax benefit (80) (114) Earnings before equity in undistributed earnings of bank subsidiary 3,234 3,196 Equity in undistributed earnings of bank subsidiary 4,624 4,252 Net earnings $ 7,858 7,448 CONDENSED STATEMENTS OF CASH FLOWS Year ended December 31 (Dollars in thousands) 2015 2014 Cash flows from operating activities: Net earnings $ 7,858 7,448 Adjustments to reconcile net earnings to net cash provided by operating activities: Net decrease in other assets 1 — Net decrease in other liabilities (153) (159) Equity in undistributed earnings of bank subsidiary (4,624) (4,252) Net cash provided by operating activities 3,082 3,037 Cash flows from financing activities: Dividends paid (3,206) (3,134) Net cash used in financing activities (3,206) (3,134) Net change in cash and cash equivalents (124) (97) Cash and cash equivalents at beginning of period 2,311 2,408 Cash and cash equivalents at end of period $ 2,187 2,311 |
Summary of Significant Accoun29
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Summary of Signficant Accounting Policies | |
Nature of Business Policy | NOTE 1 : SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business Auburn National Bancorporation, Inc. (the “Company”) is a bank holding company whose primary business is conducted by its wholly-owned subsidiary, AuburnBank (the “Bank”). AuburnBank is a commercial bank located in Auburn , Alabama . The Bank provides a full range of banking services in its primary market area, Lee County , which includes the Auburn-Opelika Metropolitan Statistical Area. |
Basis of Presentation Policy | Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsi diar ies. Auburn National Bancorporation Capital Trust I is an affiliate of the Company and was included in these consolidated financial statements pursuant to the equity method of accounting. Significant intercompany transactions and accounts are eliminat ed in consolidation. |
Use of Estimates Policy | Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilitie s and the disclosure of contingent assets and liabilities as of the balance sheet date and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly su sceptible to significant change in the near term include the determination of the allowance for loan losses , fair value measurements , valuation of other real estate owned, and valuation of deferred tax assets. |
Reclassifications Policy | Reclassifications Certain amounts reported in the prior period have been reclassified to conform to the current-period presentation. These reclassifications had no impact on the Company’s previously reported net earnings or total stockholders’ equity |
Accounting Standards Adopted in 2014 | Accounting Standards Adopted in 2015 In the first quarter of 2015 , the Company adopted new guidance related to the following Accounting Standards Updates (“Updates” or “ASUs”): • ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Projects ; • ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure; • ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ; • ASU 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures; and • ASU 2014-14, Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure . Information about these pronouncements is described in more detail below. ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Project s, amends the criteria a company must meet to elect to account for investments in qualified affordable housing projects using a method other than the cost or equity methods. If the criteria are met, a company is permitted to amortize the initial investment cost in proportion to and over the same period as the total tax benefits the company expects to receive. The amortization of the initial investment cost and tax benefits are t o be recorded in the income tax expense line. The Update also requires new disclosures about all investments in qualified affordable housing projects regardless of the accounting method used. These changes were effective for the Company in the first quarte r of 2015. Adoption of this ASU did not have a material impact on the consolidated financial statements of the Company. ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure , clarifies the timing of when a creditor is considered to have taken physical possession of residential real estate collateral for a consumer mortgage loan, resulting in the reclassification of the loan receivable to real estate owned. A creditor has taken physical possession o f the property when either (1) the creditor obtains legal title through foreclosure, or (2) the borrower transfers all interests in the property to the creditor via a deed in lieu of foreclosure or a similar legal agreement. The Update also requires disclo sure of the amount of foreclosed residential real estate property held by the creditor and the recorded investment in residential real estate mortgage loans that are in the process of foreclosure. These changes were effective for the Company in the first q uarter of 2015. Adoption of this ASU did not have a material impact on the consolidated financial statements of the Company. ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity , changes the definition and reporting requirements for discontinued operations. Under the new guidance, an entity’s disposal of a component or group of components must be reported in discontinued operations if the disposal is a strategic shift that has or will have a significant eff ect on the entity’s operations and financial results. Major strategic shifts include disposals of a major geographic area or line of business. This guidance also requires new disclosures on discontinued operations. These changes were effective for the Comp any in the first quarter 2015. Adoption of this ASU did not have a material impact on the consolidated financial statements of the Company. ASU 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures , changes current accountin g and expands secured borrowing accounting for repurchase-to-maturity transactions and repurchase financings. This guidance requires new disclosures for certain repurchase agreements and similar transactions that identify which items are accounted for as secured borrowings and which items are accounted for as sales. These changes were effective for the Company in the first quarter 2015. Adoption of this ASU did not have a material impact on the consolidated financial statements of the Company. ASU 20 14-14, Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure , clarifies how creditors classify government-guaranteed mortgage loans, including FHA or VA guaranteed loans, upon foreclosure. Some creditors reclassify those loans to real estate consistent with other foreclosed loans that do not have guarantees; others reclassify the loans to other receivables. The amendments in this guidance require that a mortgage loan be derecognized and that a separate other receivable be recognize d upon foreclosure if the following conditions are met: (1) The loan has a government guarantee that is not separable from the loan before foreclosure; (2) At the time of foreclosure, the creditor has the intent to convey the real estate property to the gu arantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim; and (3) At the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclo sure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. These changes were effective for the Company in the first quarter of 2015. Adoption of this ASU did not have a material impact on the consolidated financial statements of the Company. |
Cash Equivalents Policy | Cash Equivalents Cash equivalents include c ash on hand, cash items in process of collection, amounts due from banks, including interest bearing deposits with other banks, and federal funds sold. |
Securities Policy | Securities Securities are classified based on management’s intention at the date of purchase. At December 31, 2015 , all of the Company’s securities were classified as availa ble-for-sale. Securities available-for-sale are used as part of the Company’s interest rate risk management strategy, and they may be sold in response to changes in interest rates, changes in prepayment risks or other factors. All securities classified as available-for-sale are recorded at fair value with any unrealized gains and losses reported in accu mulated other comprehensive income , net of the deferred income tax effects. Interest and dividends on securities, including the amortization of premiums and accretion of discounts are recognized in interest income over the anticipated life of the security using the effective interest method, taking into consideration prepayment assumptions. Realized gains and losses from the sale of securities are determined u sing the specific identification method. On a quarterly basis, management makes an assessment to determine whether there have been events or economic circumstances to indicate that a security on which there is an unrealized loss is other-than-temporarily impaired. For equity securities with an unrealized loss, the Company considers many factors including the severity and duration of the impairment; the intent and ability of the Company to hold the security for a period of time sufficient for a recovery in value; and recent events specific to the issuer or industry. Equity securities on which there is an unrealized loss that is deemed to be other-than-temporary are written down to fair value with the write-down recorded as a realized loss in securities gain s (losses) , net . For debt securities with an unrealized loss, an other-than-temporary impairment write-down is triggered when (1) the Company has the intent to sell a debt security, (2) it is more likely than not that the Company will be required to sel l the debt security before recovery of its amortized cost basis, or (3) the Company does not expect to recover the entire amortized cost basis of the debt security. If the Company has the intent to sell a debt security or if it is more likely than not that it will be required to sell the debt security before recovery, the other-than-tem porary write-down is equal to the entire difference between the debt security’s amortized cost and its fair value. If the Company does not intend to sell the security or it is not more likely than not that it will be required to sell the security before r ecovery, the other-than-temporary impairment write-down is separated into the amount that is credit related (credit loss component) and the amount due to all other factors. The credit loss component is recognized in earnings, as a realized loss in securit ies gains (losses), and is the difference between the security’s amortized cost basis and the present value of its expected future cash flows. The remaining difference between the security’s fair value and the present value of future expected cash flows i s due to factors that are not credit related and is recognized in other comprehensive income, net of applicable taxes. |
Loans Held for Sale Policy | Loans held for sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair va lue in the aggregate . Loan sales are recognized when the transaction closes, the proceeds are collected, and ownership is transferred. Continuing involvement, through the sales agreement, consists of the right to service the loan for a fee for the life o f the loan, if applicable. Gains on the sale of loans held for sale are recorded net of related costs, such as commissions, and reflected as a component of mortgage lending income in the consolidated statements of earnings. In the course of conducting the Bank’s mortgage lending activities of originating mortgage loans and selling those loans in the secondary market, the Bank makes various representations and warranties to the purchaser of the mortgage loans. Every loan closed by the Bank’s mortgage c enter is run through a government agency automated underwriting system. Any exceptions noted during this process are remedied prior to sale. These representations and warranties also apply to underwriting the real estate appraisal opinion of value for th e collateral securing these loans. Failure by the Company to comply with the underwriting and/or appraisal standards could result in the Company being required to repurchase the mortgage loan or to reimburse the investor for losses incurred (make whole re quests) if such failure cannot be cured by the Company within the specified period following discovery. |
Loans Policy | Loans Loans are reported at their outstanding principal balances, net of any unearned income , charge-offs, and any deferred fees or costs on originat ed loans. Interest income is accrued based on the principal balance outstanding. |
Loans, Origination Fees Policy | Loan origination fees, net of certain loan origination costs, are deferred and recognized in interest income over the contractual life of the loan using the effective intere st method. Loan commitment fees are generally deferred and amortized on a straight-line basis over the commitment period , which results in a recorded amount that approximates fair value . |
Loans, Nonacrrual Policy | The accrual of interest on loans is discontinued when there is a sig nificant deterioration in the financial condition of the borrower and full repayment of principal and interest is not expected or the principal or interest is more than 90 days past due, unless the loan is both well-collateralized and in the process of col lection. Generally, all interest accrued but not collected for loans that are placed on nonaccrual status is reversed against current interest income. Interest collections on non accrual loans are generally applied as principal reductions. The Company deter mines past due or delinquency status of a loan based on contractual payment terms. |
Loans, Impaired Policy | A loan is considered impaired when it is probable the Company will be unable to collect all principal and interest payments due according to the contractual terms of the lo an agreement. Individually identified impaired loans are measured based on the present value of expected payments using the loan’s original effective rate as the discount rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. If the recorded investment in the impaired loan exceeds the measure of fair value, a valuation allowance may be established as part of the allowance for loan losses. Changes to the valuation allowance are recorded as a compone nt of the provision for loan losses. |
Loans, Troubled Debt Restructuring Policy | Impaired loans also include troubled debt restructurings (“TDRs”). In the normal course of business, management may grant concessions to borrowers who are experiencing financial difficulty. The concessions granted most frequently for TDRs involve reductions or delays in required payments of principal and interest for a specified time, the rescheduling of payments in accordance with a bankruptcy plan or the charge-off of a portion of the loan. In most cases, the conditio ns of the credit also warrant nonaccrual st atus, even after the restructuring occurs. As part of the credit approval process, the restructured loans are evaluated for adequate collateral protection in determining the appropriate accrual s tatus at the time of restructuring . TDR loans may be returned to accrual status if there has been at least a six-month sustained period of repayment performance by the borrower. |
Allowance for Loan Losses Policy | Allowance for Loan Losses The allowance for loan losses is maintained at a level that manageme nt believes is adequate to absorb probable losses inherent in the loan portfolio. Loan losses are charged against the allowance when they are known. Subsequent recoveries are credited to the allowance. Management’s determination of the adequacy of the allo wance is based on an evaluation of the portfolio, current economic conditions, growth, composition of the loan portfolio, homogeneous pools of loans, risk ratings of specific loans, historical loan loss factors, identified impaired loans and other factors related to the portfolio. This evaluation is performed quarterly and is inherently subjective, as it requires various material estimates that are susceptible to significant change, including the amounts and timing of future cash flows expected to be receiv ed on any impaired loans. In addition, regulatory agencies, as an integral part of their examination process, will periodically review the Company’s allowance for loan losses, and may require the Company to record additions to the allowance based on their judgment about information available to them at the time of their examinations. |
Premises and Equipment Policy | Premises and Equipment Land is carried at cost. Buildings and equipment are carried at cost, less accumulated depreciation computed on a straight-line method over the useful lives of the assets or the expected terms of the leases, if shorter. Expected terms include lease option periods to the extent that the exercise of such options is reasonably assured. |
Other Real Estate Owned Policy | Other Real Estate Owned Other real estate owned (“OREO” ) includes properties acquired through, or in lieu of, loan foreclosure that are held for sale and are initially recorded at the lower of the loan’s carrying amount or fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying value amount or fair value less cost to sell. Gains or losses realized upon sale of OREO and additional losses related to su bsequent valuation adjustments are determined on a specific property basis and are included as a component of noninterest expense along with holding costs. |
Nonmarketable Equity Investments Policy | Nonmarketable equity investments Nonmarketable equity investments include equity securities that are not publicly traded and securities acquired for various purposes . The Bank is required to maintain certain minimum levels of equity investments with certain regulatory and other entities in which the Bank has an ongoing business relationship based on the Bank’s common stock and surplus (with regard to the relationship with the Federal Reserve Bank) or outstanding borrowings (with regard to the relationship with the Federal Home Loan Bank of Atlanta). These securities are accounted for under the cost me thod and are included in other assets. For cost-method investments , on a quarterly basis , the Company evaluates whether an event or change in circumstances has occurred during the reporting period that may have a significant adverse effect on the fair val ue of the investment. If the Company determines that a decline in value is other-than-temporary, the Company will recognize the estimated loss in securities gains (losses), net. |
Transfers and Servicing of Financial Assets, Policy | Transfers of Financial Assets Transfers of an entire financial asset (i.e. lo an sales), a group of entire financial assets, or a participating interest in an entire financial asset (i.e. loan participations sold) are accounted for as sales when control over the assets have been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking that right) to pledge or exchange the transferred assets, and (3) the Company does not mainta in effective control over the transferred assets through an agreement to repurchase them before their maturity. |
Mortgage Servicing Rights Policy | Mortgage Servicing Rights The Company recognizes as assets the rights to service mortgage loans for others, known as MSRs. The Company determin es the fair value of MSRs at the date the loan is transferred. An estimate of the Company’s MSRs is determined using assumptions that market participants would use in estimating future net servicing income, including estimates of pre p ayment speeds, discou nt rate, default rates, cost to service, escrow account earnings, contractual servicing fee income, ancillary income, and late fees. Subsequent to the date of transfer, the Company has elected to measure its MSRs under the amortization method. Under the amortization method, MSRs are amortized in proportion to, and over the period of, estimated net servicing income. The amortization of MSRs is analyzed monthly and is adjusted to reflect changes in prepayment speeds, as well as other factors. MSRs are ev aluated for impairment based on the fair value of those assets. Impairment is determined by stratifying MSRs into groupings based on predominant risk characteristics, such as interest rate and loan type. If, by individual stratum, the carrying amount of the MSRs exceeds fair value, a valuation allowance is established through a charge to earnings. The valuation allowance is adjusted as the fair value changes. MSRs are included in the other assets category in the accompanying consolidated balance sheet s . |
Derivative Instruments Policy | Derivative Instruments In accordance with Accounting Standards Codification (“ASC”) Topic 815, Derivatives and Hedging , all derivative instruments are recorded on the consolidated balance sheet at their respective fair values. The accounting for changes in fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, if so, on the reason for holding it. If the derivative instrument is not designated as part of a hedg ing relationship , the gain or loss on the derivative instrument is recognized in earnings in the period of change. None of the derivatives utilized by the Company have been designated as a hedge. |
Securities Sold Under Agreements to Repurchase Policy | Securities sold under agreements to repurchase Securities sold under agreements to repurchase generally mature less than one year from the transaction date. Securities sold under agreements to repurchase are reflected as a secured borrowing in the accompanying consolidated balance sheets at the amount of cash received in connection with each transaction. |
Income Taxes Policy | Income Taxes Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enac ted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. The net deferred tax asset is reflected as a component of other assets in the accompanying consolidated balance sheets. Income tax expense or benefit for the year is allocated among continuing operations and other comprehensive income (loss), as applicable. The amount allocated to continuing operations is the income tax effect of the pretax income or loss from continuing operations that occu rred during the year, plus or minus income tax effects of ( 1 ) changes in certain circumstances that cause a change in judgment about the realization of deferred tax assets in future years, ( 2 ) changes in income tax laws or rates, and ( 3 ) changes in income tax status, subject to certain exceptions. The amount allocated to other comprehensive income (loss) is related solely to changes in the valuation allowance on items that are normally accounted for in other comprehensive income (loss) such as unrealized g ains or losses on available-for-sale securities. In accordance with ASC 740, Income Taxes , a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. It is the Compa ny’s policy to recognize interest and penalties related to income tax matters in income tax expense. The Company and its wholly-owned subsidiaries file a consolidated income tax return. |
Income Taxes, Uncertainties Policy | In accordance with ASC 740, Income Taxes , a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. It is the Compa ny’s policy to recognize interest and penalties related to income tax matters in income tax expense. The Company and its wholly-owned subsidiaries file a consolidated income tax return. |
Fair Value Measurements Policy | Fair Value Measurements ASC 820 , Fair Value Measurements, which defines fair value, establishes a framework for measuring fair value in U.S. generally accepted accounting principles and expands disclosures about fair value measurements. ASC 820 applies only to fair-value measurements that are already required or permitted by other accounting standards. The definition of fair value focuses on the exit price, i.e., the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurem ent date, not the entry price, i.e., the price that would be paid to acquire the asset or received to assume the liability at the measurement date. The statement emphasizes that fair value is a market-based measurement; not an entity-specific measurement. Therefore, the fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. For more information related to fair value measurements, please refer to Note 17 , Fair Value. |
Subsequent Events Policy | Subs equent Events The Company has evaluated the effects of events or transactions through the date of this filing that have occurred subsequent to December 31, 2015 . The Company does not believe there are any material subsequent events that would require further recognition or disclosure . |
Basic and Diluted Earnings Pe30
Basic and Diluted Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Basic and Diluted Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended December 31 (Dollars in thousands, except share and per share data) 2015 2014 Basic and diluted: Net earnings $ 7,858 $ 7,448 Weighted average common shares outstanding 3,643,428 3,643,278 Net earnings per share $ 2.16 $ 2.04 |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Variable interest entities [Abstract] | |
Variable Interest Entity [Table Text Block] | Maximum Loss Liability (Dollars in thousands) Exposure Recognized Classification Type: Trust preferred issuances N/A $ 7,217 Long-term debt |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Investments debt and equity securities [Abstract] | |
Available-for-sale Securities [Table Text Block] | 1 year 1 to 5 5 to 10 After 10 Fair Gross Unrealized Amortized (Dollars in thousands) or less years years years Value Gains Losses Cost December 31, 2015 Agency obligations (a) $ 5,000 25,852 19,463 9,770 60,085 384 518 $ 60,219 Agency RMBS (a) — 1,623 13,511 95,820 110,954 968 780 110,766 State and political subdivisions — 497 12,094 58,057 70,648 3,022 7 67,633 Total available-for-sale $ 5,000 27,972 45,068 163,647 241,687 4,374 1,305 $ 238,618 December 31, 2014 Agency obligations (a) $ — 30,947 14,869 14,433 60,249 375 830 $ 60,704 Agency RMBS (a) — — 14,523 120,520 135,043 1,597 616 $ 134,062 State and political subdivisions — 502 15,520 56,289 72,311 3,379 34 $ 68,966 Total available-for-sale $ — 31,449 44,912 191,242 267,603 5,351 1,480 $ 263,732 (a) Includes securities issued by U.S. government agencies or government sponsored entities. |
Available-for-sale Securities, Continuous Unrealized Loss Position [Table Text Block] | Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Value Losses Value Losses December 31, 2015: Agency obligations $ 8,157 2 24,444 516 32,601 $ 518 Agency RMBS 42,345 367 18,184 413 60,529 780 State and political subdivisions 267 1 969 6 1,236 7 Total $ 50,769 370 43,597 935 94,366 $ 1,305 December 31, 2014: Agency obligations $ — — 24,126 830 24,126 $ 830 Agency RMBS 9,078 22 42,744 594 51,822 616 State and political subdivisions 4,257 34 — — 4,257 34 Total $ 13,335 56 66,870 1,424 80,205 $ 1,480 |
Available For Sale Securiites Detail Of Other Than Temporary Impairment Losses [Table Text Block] | Year ended December 31 (Dollars in thousands) 2015 2014 Other-than-temporary impairment charges (included in earnings): Debt securities: Agency RMBS $ — 333 Total debt securities $ — 333 Total other-than-temporary impairment charges (included in earnings) $ — 333 Other-than-temporary impairment on debt securities: Recorded as part of gross realized losses: Securities with intent to sell $ — 333 Total other-than-temporary impairment on debt securities $ — 333 |
Schedule of Realized Gain (Loss) [Table Text Block] | Realized Gains and Losses The following table presents the gross realized gains and losses on sales and other-than-temporary impairment charges related to securities. Year ended December 31 (Dollars in thousands) 2015 2014 Gross realized gains $ 16 467 Gross realized losses — (664) Realized gains (losses), net $ 16 (197) |
Loan and Allowance for Loan L33
Loan and Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Loans And Leases Receivable Disclosure [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31 (In thousands) 2015 2014 Commercial and industrial $ 52,479 $ 54,329 Construction and land development 43,694 37,298 Commercial real estate: Owner occupied 46,602 52,296 Other 157,251 139,710 Total commercial real estate 203,853 192,006 Residential real estate: Consumer mortgage 70,009 66,489 Investment property 46,664 41,152 Total residential real estate 116,673 107,641 Consumer installment 10,220 12,335 Total loans 426,919 403,609 Less: unearned income (509) (655) Loans, net of unearned income $ 426,410 $ 402,954 |
Past Due Financing Receivables [Table Text Block] | Accruing Accruing Total 30-89 Days Greater than Accruing Non- Total (In thousands) Current Past Due 90 days Loans Accrual Loans December 31, 2015: Commercial and industrial $ 52,387 49 — 52,436 43 $ 52,479 Construction and land development 43,111 — — 43,111 583 43,694 Commercial real estate: Owner occupied 46,372 — — 46,372 230 46,602 Other 155,731 — — 155,731 1,520 157,251 Total commercial real estate 202,103 — — 202,103 1,750 203,853 Residential real estate: Consumer mortgage 68,579 1,105 — 69,684 325 70,009 Investment property 46,435 229 — 46,664 — 46,664 Total residential real estate 115,014 1,334 — 116,348 325 116,673 Consumer installment 10,179 28 — 10,207 13 10,220 Total $ 422,794 1,411 — 424,205 2,714 $ 426,919 December 31, 2014: Commercial and industrial $ 54,106 168 — 54,274 55 $ 54,329 Construction and land development 36,483 210 — 36,693 605 37,298 Commercial real estate: Owner occupied 51,832 201 — 52,033 263 52,296 Other 139,710 — — 139,710 — 139,710 Total commercial real estate 191,542 201 — 191,743 263 192,006 Residential real estate: Consumer mortgage 64,713 1,736 — 66,449 40 66,489 Investment property 40,503 495 — 40,998 154 41,152 Total residential real estate 105,216 2,231 — 107,447 194 107,641 Consumer installment 12,290 45 — 12,335 — 12,335 Total $ 399,637 2,855 — 402,492 1,117 $ 403,609 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Year ended December 31 (In thousands) 2015 2014 Beginning balance $ 4,836 $ 5,268 Charged-off loans (1,114) (808) Recovery of previously charged-off loans 367 326 Net charge-offs (747) (482) Provision for loan losses 200 50 Ending balance $ 4,289 $ 4,836 (in thousands) Commercial and industrial Construction and land Development Commercial Real Estate Residential Real Estate Consumer Installment Total Balance, December 31, 2013 $ 386 366 3,186 1,114 216 $ 5,268 Charge-offs (46) (235) — (438) (89) (808) Recoveries 71 8 119 112 16 326 Net recoveries (charge-offs) 25 (227) 119 (326) (73) (482) Provision 228 835 (1,377) 331 33 50 Balance, December 31, 2014 $ 639 974 1,928 1,119 176 $ 4,836 Charge-offs (100) — (866) (89) (59) (1,114) Recoveries 22 17 — 313 15 367 Net (charge-offs) recoveries (78) 17 (866) 224 (44) (747) Provision (38) (322) 817 (284) 27 200 Balance, December 31, 2015 $ 523 669 1,879 1,059 159 $ 4,289 |
Financing Receivable Allowance for Credit Loss Additional Information [Table Text Block] | Collectively evaluated (1) Individually evaluated (2) Total Allowance Recorded Allowance Recorded Allowance Recorded for loan investment for loan investment for loan investment (In thousands) losses in loans losses in loans losses in loans December 31, 2015: Commercial and industrial $ 523 52,431 — 48 523 52,479 Construction and land development 669 43,111 — 583 669 43,694 Commercial real estate 1,758 201,077 121 2,776 1,879 203,853 Residential real estate 1,059 116,673 — — 1,059 116,673 Consumer installment 159 10,220 — — 159 10,220 Total $ 4,168 423,512 121 3,407 4,289 426,919 December 31, 2014: Commercial and industrial $ 639 54,259 — 70 639 54,329 Construction and land development 974 36,693 — 605 974 37,298 Commercial real estate 1,734 190,306 194 1,700 1,928 192,006 Residential real estate 1,119 106,745 — 896 1,119 107,641 Consumer installment 176 12,335 — — 176 12,335 Total $ 4,642 400,338 194 3,271 4,836 403,609 (1) Represents loans collectively evaluated for impairment in accordance with ASC 450-20, Loss Contingencies (formerly FAS 5), and pursuant to amendments by ASU 2010-20 regarding allowance for unimpaired loans. (2) Represents loans individually evaluated for impairment in accordance with ASC 310-30, Receivables (formerly FAS 114), and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans. |
Financing Receivable Credit Quality Indicators [Table Text Block] | (In thousands) Pass Special Mention Substandard Accruing Nonaccrual Total loans December 31, 2015 Commercial and industrial $ 48,038 4,075 323 43 $ 52,479 Construction and land development 42,458 60 593 583 43,694 Commercial real estate: Owner occupied 45,772 381 219 230 46,602 Other 155,423 36 272 1,520 157,251 Total commercial real estate 201,195 417 491 1,750 203,853 Residential real estate: Consumer mortgage 64,502 1,964 3,218 325 70,009 Investment property 45,399 112 1,153 — 46,664 Total residential real estate 109,901 2,076 4,371 325 116,673 Consumer installment 10,038 55 114 13 10,220 Total $ 411,630 6,683 5,892 2,714 $ 426,919 December 31, 2014 Commercial and industrial $ 49,550 4,348 376 55 $ 54,329 Construction and land development 35,911 226 556 605 37,298 Commercial real estate: Owner occupied 49,900 1,905 228 263 52,296 Other 136,801 2,253 656 — 139,710 Total commercial real estate 186,701 4,158 884 263 192,006 Residential real estate: Consumer mortgage 59,646 1,912 4,891 40 66,489 Investment property 39,348 624 1,026 154 41,152 Total residential real estate 98,994 2,536 5,917 194 107,641 Consumer installment 12,200 21 114 — 12,335 Total $ 383,356 11,289 7,847 1,117 $ 403,609 |
Impaired Financing Receivables [Table Text Block] | December 31, 2015 (In thousands) Unpaid principal balance (1) Charge-offs and payments applied (2) Recorded investment (3) Related allowance With no allowance recorded: Commercial and industrial $ 48 — 48 Construction and land development 2,582 (1,999) 583 Commercial real estate: Owner occupied 308 (78) 230 Other 2,136 (617) 1,519 Total commercial real estate 2,444 (695) 1,749 Total $ 5,074 (2,694) 2,380 With allowance recorded: Commercial real estate: Owner occupied 1,027 — 1,027 121 Total commercial real estate 1,027 — 1,027 121 Total $ 1,027 — 1,027 $ 121 Total impaired loans $ 6,101 (2,694) 3,407 $ 121 (1) Unpaid principal balance represents the contractual obligation due from the customer. (2) Charge-offs and payments applied represents cumulative charge-offs taken, as well as interest payments that have been applied against the outstanding principal balance. (3) Recorded investment represents the unpaid principal balance less charge-offs and payments applied; it is shown before any related allowance for loan losses. December 31, 2014 (In thousands) Unpaid principal balance (1) Charge-offs and payments applied (2) Recorded investment (3) Related allowance With no allowance recorded: Commercial and industrial $ 70 — 70 Construction and land development 2,822 (2,217) 605 Commercial real estate: Owner occupied 331 (68) 263 Total commercial real estate 331 (68) 263 Residential real estate: Consumer mortgages 934 (192) 742 Investment property 180 (26) 154 Total residential real estate 1,114 (218) 896 Total $ 4,337 (2,503) 1,834 With allowance recorded: Commercial real estate: Owner occupied $ 846 — 846 $ 102 Other 591 — 591 92 Total commercial real estate 1,437 — 1,437 194 Total $ 1,437 — 1,437 $ 194 Total impaired loans $ 5,774 (2,503) 3,271 $ 194 (1) Unpaid principal balance represents the contractual obligation due from the customer. (2) Charge-offs and payments applied represents cumulative charge-offs taken, as well as interest payments that have been applied against the outstanding principal balance. (3) Recorded investment represents the unpaid principal balance less charge-offs and payments applied; it is shown before any related allowance for loan losses. |
Schedule Of Average Impaired Financing Receivable [Table Text Block] | Year ended December 31, 2015 Year ended December 31, 2014 Average Total interest Average Total interest recorded income recorded income (In thousands) investment recognized investment recognized Impaired loans: Commercial and industrial $ 60 4 $ 98 7 Construction and land development 603 — 1,032 — Commercial real estate: Owner occupied 1,328 62 1,308 40 Other 911 18 872 29 Total commercial real estate 2,239 80 2,180 69 Residential real estate: Consumer mortgages 349 173 731 43 Investment property 70 76 164 — Total residential real estate 419 249 895 43 Total $ 3,321 333 $ 4,205 119 |
Troubled Debt Restructurings on Financing Receivables, Accrual Status [Table Text Block] | TDRs Related (In thousands) Accruing Nonaccrual Total Allowance December 31, 2015 Commercial and industrial $ 48 — 48 $ — Construction and land development — 582 582 — Commercial real estate: Owner occupied 1,027 230 1,257 121 Total commercial real estate 1,027 230 1,257 121 Total $ 1,075 812 1,887 $ 121 December 31, 2014 Commercial and industrial $ 70 — 70 $ — Construction and land development — 605 605 — Commercial real estate: Owner occupied 846 263 1,109 102 Other 591 — 591 92 Total commercial real estate 1,437 263 1,700 194 Residential real estate: Consumer mortgages 742 — 742 — Investment property — 154 154 — Total residential real estate 742 154 896 — Total $ 2,249 1,022 3,271 $ 194 |
Troubled Debt Restructuring Modifications [Table Text Block] | Pre- Post- modification modification outstanding outstanding Number of recorded recorded ($ in thousands) contracts investment investment December 31, 2015 Commercial and industrial 1 $ 61 66 Construction and land development 1 116 113 Commercial real estate: Owner occupied 1 216 218 Other 1 592 592 Total commercial real estate 2 808 810 Total 4 $ 985 989 December 31, 2014 Commercial real estate: Other 1 $ 590 592 Total commercial real estate 1 590 592 Residential real estate: Consumer mortgages 1 712 712 Total residential real estate 1 712 712 Total 2 $ 1,302 1,304 |
Schedule Of Debtor Troubled Debt Restructuring, Subsequent Defaults [Table Text Block] | Number of Recorded ($ in thousands) Contracts investment (1) December 31, 2015 Commercial real estate: Owner occupied 1 $ 262 Total commercial real estate 1 262 Residential real estate: Investment property 1 150 Total residential real estate 1 150 Total 2 $ 412 December 31, 2014 Commercial real estate: Owner occupied 1 $ 272 Total commercial real estate 1 272 Total 1 $ 272 (1) Amount as of applicable month end during the respective year for which there was a payment default. |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Premises and Equipment [Abstract] | |
Premises and Equipment [Table Text Block] | December 31 (Dollars in thousands) 2015 2014 Land $ 6,106 5,916 Buildings and improvements 9,448 8,606 Furniture, fixtures, and equipment 3,159 3,214 Total premises and equipment 18,713 17,736 Less: accumulated depreciation (6,847) (6,929) Premises and equipment, net $ 11,866 10,807 |
Mortgage Servicing Rights, Net
Mortgage Servicing Rights, Net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Mortgage Servicing [Abstract] | |
Schedule Of Servicing Assets At Fair Value [Table Text Block] | Year ended December 31 (Dollars in thousands) 2015 2014 Beginning balance $ 2,388 2,350 Additions, net 529 465 Amortization expense (654) (374) Change in valuation allowance 53 (53) Ending balance $ 2,316 2,388 Valuation allowance included in MSRs, net: Beginning of period $ 53 — End of period — 53 Fair value of amortized MSRs: Beginning of period $ 3,238 3,452 End of period 3,086 3,238 |
Data And Assumptions Used In Fair Value Calculation Of MSRs [Table Text Block] | December 31 (Dollars in thousands) 2015 2014 Unpaid principal balance $ 358,928 360,956 Weighted average prepayment speed (CPR) 10.0 % 9.6 Discount rate (annual percentage) 10.0 % 10.0 Weighted average coupon interest rate 3.9 % 3.9 Weighted average remaining maturity (months) 266 267 Weighted average servicing fee (basis points) 25.0 25.0 |
Estimated Amortization Expense Of MSRs For Five Years [Table Text Block] | (Dollars in thousands) December 31, 2015 2016 $ 348 2017 298 2018 256 2019 216 2020 187 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Deposits: | |
Maturities Of Certificates Of Deposit And Other Time Deposits [Table Text Block] | (Dollars in thousands) December 31, 2015 2016 $ 95,611 2017 56,854 2018 24,366 2019 33,027 2020 9,567 Thereafter 173 Total certificates of deposit and other time deposits $ 219,598 |
Short Term Borrowings (Tables)
Short Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Short-term Debt: | |
Schedule of Short-term Debt [Table Text Block] | 2015 2014 Weighted Weighted (Dollars in thousands) Amount Avg. Rate Amount Avg. Rate Federal funds purchased: As of December 31 $ — — $ — — Average during the year 16 0.90 % 16 0.90 % Maximum outstanding at any month-end — — Securities sold under agreements to repurchase: As of December 31 $ 2,951 0.50 % $ 4,681 0.50 % Average during the year 3,585 0.50 % 3,797 0.50 % Maximum outstanding at any month-end 4,806 4,681 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Long-term debt: | |
Schedule of Long-term Debt Instruments [Table Text Block] | 2015 2014 Weighted Weighted (Dollars in thousands) Amount Avg. Rate Amount Avg. Rate FHLB advances, due 2018 $ — — % $ 5,000 3.59 % Subordinated debentures, due 2033 7,217 3.63 7,217 3.38 Total long-term debt $ 7,217 3.63 % $ 12,217 3.47 % |
Schedule of Maturities of Long-term Debt [Table Text Block] | (Dollars in thousands) 2015 2016 2017 2018 2019 Thereafter Total Subordinated debentures — — — — — 7,217 7,217 Total long-term debt $ — — — — — 7,217 7,217 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Other Comprehensive Income Loss [Abstract] | |
Schedule Of Other Comprehensive Income Loss [Table Text Block] | Pre-tax Tax benefit Net of (In thousands) amount (expense) tax amount 2015: Unrealized net holding loss on all other securities $ (785) 289 (496) Reclassification adjustment for net gain on securities recognized in net earnings (16) 6 (10) Other comprehensive loss $ (801) 295 (506) 2014: Unrealized net holding gain on all other securities $ 10,553 (3,893) 6,660 Reclassification adjustment for net loss on securities recognized in net earnings 530 (195) 335 Other comprehensive income $ 11,083 (4,088) 6,995 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Taxes | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year ended December 31 (Dollars in thousands) 2015 2014 Current income tax expense: Federal $ 1,805 1,601 State 395 397 Total current income tax expense 2,200 1,998 Deferred income tax expense: Federal 586 731 State 34 55 Total deferred income tax expense 620 786 Total income tax expense $ 2,820 2,784 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2015 2014 Percent of Percent of pre-tax pre-tax (Dollars in thousands) Amount earnings Amount earnings Earnings before income taxes $ 10,678 10,232 Income taxes at statutory rate 3,631 34.0 % 3,479 34.0 % Tax-exempt interest (873) (8.1) (803) (7.8) State income taxes, net of federal tax effect 280 2.6 295 2.9 Bank-owned life insurance (254) (2.4) (170) (1.7) Other 36 0.3 (17) (0.2) Total income tax expense $ 2,820 26.4 % 2,784 27.2 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31 (Dollars in thousands) 2015 2014 Deferred tax assets: Allowance for loan losses $ 1,583 1,784 Write-downs on other real estate owned 20 20 Tax credit carry-forwards 484 816 Other 519 480 Total deferred tax assets 2,606 3,100 Deferred tax liabilities: Premises and equipment 219 69 Unrealized gain on securities 1,132 1,427 Originated mortgage servicing rights 855 881 Other 205 204 Total deferred tax liabilities 2,411 2,581 Net deferred tax asset $ 195 519 |
Schedule of Deferred Tax Asset Rollforward [Table Text Block] | Year ended December 31 (Dollars in thousands) 2015 2014 Net deferred tax asset: Balance, beginning of year $ 519 5,393 Deferred tax expense related to continuing operations (620) (786) Stockholders' equity, for accumulated other comprehensive loss (income) 296 (4,088) Balance, end of year $ 195 519 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Derivative instruments and hedging activities disclosure abstract | |
Schedule of Derivative Instruments [Table Text Block] | Other Other Other noninterest Assets Liabilities income Estimated Estimated Gains (Dollars in thousands) Notional Fair Value Fair Value (Losses) December 31, 2015: Pay fixed / receive variable $ 4,317 — 440 $ 194 Pay variable / receive fixed 4,317 440 — (194) Total interest rate swap agreements $ 8,634 440 440 $ — December 31, 2014: Pay fixed / receive variable $ 4,667 — 634 $ 210 Pay variable / receive fixed 4,667 634 — (210) Total interest rate swap agreements $ 9,334 634 634 $ — |
Commitment and Contigent Liabil
Commitment and Contigent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule Of Commitments To Extend Credit [Table Text Block] | December 31 (Dollars in thousands) 2015 2014 Commitments to extend credit $ 52,230 $ 49,824 Standby letters of credit 8,221 8,337 |
Fair Value (Tables)
Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Quoted Prices in Significant Active Markets Other Significant for Observable Unobservable Identical Assets Inputs Inputs (Dollars in thousands) Amount (Level 1) (Level 2) (Level 3) December 31, 2015: Securities available-for-sale: Agency obligations $ 60,085 — 60,085 — Agency RMBS 110,954 — 110,954 — State and political subdivisions 70,648 — 70,648 — Total securities available-for-sale 241,687 — 241,687 — Other assets (1) 440 — 440 — Total assets at fair value $ 242,127 — 242,127 — Other liabilities (1) 440 — 440 — Total liabilities at fair value $ 440 — 440 — December 31, 2014: Securities available-for-sale: Agency obligations $ 60,249 — 60,249 — Agency RMBS 135,043 — 135,043 — State and political subdivisions 72,311 — 72,311 — Total securities available-for-sale 267,603 — 267,603 — Other assets (1) 634 — 634 — Total assets at fair value $ 268,237 — 268,237 — Other liabilities (1) 634 — 634 — Total liabilities at fair value $ 634 — 634 — (1) Represents the fair value of interest rate swap agreements. |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block] | Quoted Prices in Active Markets Other Significant for Observable Unobservable Identical Assets Inputs Inputs (Dollars in thousands) Amount (Level 1) (Level 2) (Level 3) December 31, 2015: Loans held for sale $ 1,540 — 1,540 — Loans, net (1) 3,286 — — 3,286 Other real estate owned 252 — — 252 Other assets (2) 2,316 — — 2,316 Total assets at fair value $ 7,394 — 1,540 5,854 December 31, 2014: Loans held for sale $ 1,974 — 1,974 — Loans, net (1) 3,077 — — 3,077 Other real estate owned 534 — — 534 Other assets (2) 2,388 — — 2,388 Total assets at fair value $ 7,973 — 1,974 5,999 (1) Loans considered impaired under ASC 310-10-35 Receivables. This amount reflects the recorded investment in impaired loans, net of any related allowance for loan losses. (2) Represents MSRs, net, carried at lower of cost or estimated fair value. |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Weighted Carrying Average (Dollars in thousands) Amount Valuation Technique Significant Unobservable Input of Input Nonrecurring: Impaired loans $ 3,286 Appraisal Appraisal discounts (%) 25.7 % Other real estate owned 252 Appraisal Appraisal discounts (%) 6.0 % Mortgage servicing rights, net 2,316 Discounted cash flow Prepayment speed or CPR (%) 10.0 % Discount rate (%) 10.0 % |
Financial Instruments [Table Text Block] | Fair Value Hierarchy Carrying Estimated Level 1 Level 2 Level 3 (Dollars in thousands) amount fair value inputs inputs Inputs December 31, 2015: Financial Assets: Loans, net (1) $ 422,121 $ 427,340 $ — $ — $ 427,340 Loans held for sale 1,540 1,574 — 1,574 — Financial Liabilities: Time Deposits $ 219,598 $ 220,093 $ — $ 220,093 $ — Long-term debt 7,217 7,217 — 7,217 — December 31, 2014: Financial Assets: Loans, net (1) $ 398,118 $ 407,839 $ — $ — $ 407,839 Loans held for sale 1,974 2,044 — 2,044 — Financial Liabilities: Time Deposits $ 249,126 $ 251,365 $ — $ 251,365 $ — Long-term debt 12,217 12,558 — 12,558 — (1) Represents loans, net of unearned income and the allowance for loan losses. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | (Dollars in thousands) Amount Loans outstanding at December 31, 2014 $ 4,841 New loans/advances 1,428 Repayments (1,457) Changes in directors and executive officers (1,097) Loans outstanding at December 31, 2015 $ 3,715 |
Regulatory Restrictions and C45
Regulatory Restrictions and Capital Ratios (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Regulatory Capital Requirements [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Minimum for capital Minimum to be Actual adequacy purposes well capitalized (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio At December 31, 2015: Common Equity Tier 1 Capital Auburn National Bancorporation $ 77,714 15.28 % $ 22,886 4.50 % N/A N/A AuburnBank 82,848 16.26 22,933 4.50 $ 33,125 6.50 Tier 1 Leverage Capital Auburn National Bancorporation $ 84,268 10.35 % $ 32,553 4.00 % N/A N/A AuburnBank 82,848 10.19 32,519 4.00 $ 40,649 5.00 % Tier 1 Risk-Based Capital Auburn National Bancorporation $ 84,268 16.57 % $ 30,515 6.00 % N/A N/A AuburnBank 82,848 16.26 30,577 6.00 $ 40,769 8.00 % Total Risk-Based Capital Auburn National Bancorporation $ 88,682 17.44 % $ 40,687 8.00 % N/A N/A AuburnBank 87,262 17.12 40,769 8.00 $ 50,962 10.00 % At December 31, 2014: Tier 1 Leverage Capital Auburn National Bancorporation $ 80,356 10.32 % $ 31,133 4.00 % N/A N/A AuburnBank 78,968 10.16 31,099 4.00 $ 38,873 5.00 % Tier 1 Risk-Based Capital Auburn National Bancorporation $ 80,356 17.45 % $ 18,419 4.00 % N/A N/A AuburnBank 78,968 17.11 18,463 4.00 $ 27,695 6.00 % Total Risk-Based Capital Auburn National Bancorporation $ 85,356 18.54 % $ 36,839 8.00 % N/A N/A AuburnBank 83,968 18.19 36,927 8.00 $ 46,158 10.00 % |
Auburn National Bancorporatio46
Auburn National Bancorporation - Parent Company (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Schedule of Condensed Balance Sheet [Table Text Block] | CONDENSED BALANCE SHEETS December 31 (Dollars in thousands) 2015 2014 Assets: Cash and due from banks $ 2,187 2,311 Investment in bank subsidiary 85,529 81,410 Other assets 845 846 Total assets $ 88,561 84,567 Liabilities: Accrued expenses and other liabilities $ 1,395 1,551 Long-term debt 7,217 7,217 Total liabilities 8,612 8,768 Stockholders' equity 79,949 75,799 Total liabilities and stockholders' equity $ 88,561 84,567 |
Schedule of Condensed Income Statement [Table Text Block] | CONDENSED STATEMENTS OF EARNINGS Year ended December 31 (Dollars in thousands) 2015 2014 Income: Dividends from bank subsidiary $ 3,450 3,377 Noninterest income 135 147 Total income 3,585 3,524 Expense: Interest expense 236 236 Noninterest expense 195 206 Total expense 431 442 Earnings before income tax benefit and equity in undistributed earnings of bank subsidiary 3,154 3,082 Income tax benefit (80) (114) Earnings before equity in undistributed earnings of bank subsidiary 3,234 3,196 Equity in undistributed earnings of bank subsidiary 4,624 4,252 Net earnings $ 7,858 7,448 |
Schedule of Condensed Cash Flow Statement [Table Text Block] | CONDENSED STATEMENTS OF CASH FLOWS Year ended December 31 (Dollars in thousands) 2015 2014 Cash flows from operating activities: Net earnings $ 7,858 7,448 Adjustments to reconcile net earnings to net cash provided by operating activities: Net decrease in other assets 1 — Net decrease in other liabilities (153) (159) Equity in undistributed earnings of bank subsidiary (4,624) (4,252) Net cash provided by operating activities 3,082 3,037 Cash flows from financing activities: Dividends paid (3,206) (3,134) Net cash used in financing activities (3,206) (3,134) Net change in cash and cash equivalents (124) (97) Cash and cash equivalents at beginning of period 2,311 2,408 Cash and cash equivalents at end of period $ 2,187 2,311 |
Basic and Diluted Earnings Pe47
Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Basic and Diluted Earnings Per Share [Abstract] | ||
Net earnings | $ 7,858 | $ 7,448 |
Basic and diluted weighted average shares outstanding | 3,643,428 | 3,643,278 |
Basic and diluted earnings per share | $ 2.16 | $ 2.04 |
Variable Interest Entities (Det
Variable Interest Entities (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Variable Interest Entities [Line Items] | |
Trust Preferred Issuance, Liability Recognized | $ 7,217 |
Variable Interest Entities Text
Variable Interest Entities Textuals (Details) $ in Millions | Dec. 31, 2015USD ($) |
Variable Interest Entities (Textuals) [Abstract] | |
Trust Preferred Securities, Issued | $ 7 |
Junior Subordinated, Issued | 7.2 |
Equity Interest, ANB Capital Trust | $ 0.2 |
Security Types (Details)
Security Types (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Debt Maturities, within One Year, Fair Value | $ 5,000 | $ 0 |
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Fair Value | 27,972 | 31,449 |
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Fair Value | 45,068 | 44,912 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 163,647 | 191,242 |
Available-for-sale Securities, Fair Value, Total | 241,687 | 267,603 |
Available For Sale Securities, Gross Unrealized Gains | 4,374 | 5,351 |
Available For Sale Securities, Gross Unrealized Losses | 1,305 | 1,480 |
Available-for-sale Securities, Amortized Cost Basis | 238,618 | 263,732 |
US Government and Government Agencies and Authorities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Debt Maturities, within One Year, Fair Value | 5,000 | 0 |
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Fair Value | 25,852 | 30,947 |
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Fair Value | 19,463 | 14,869 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 9,770 | 14,433 |
Available-for-sale Securities, Fair Value, Total | 60,085 | 60,249 |
Available For Sale Securities, Gross Unrealized Gains | 384 | 375 |
Available For Sale Securities, Gross Unrealized Losses | 518 | 830 |
Available-for-sale Securities, Amortized Cost Basis | 60,219 | 60,704 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Debt Maturities, within One Year, Fair Value | 0 | 0 |
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Fair Value | 1,623 | 0 |
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Fair Value | 13,511 | 14,523 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 95,820 | 120,520 |
Available-for-sale Securities, Fair Value, Total | 110,954 | 135,043 |
Available For Sale Securities, Gross Unrealized Gains | 968 | 1,597 |
Available For Sale Securities, Gross Unrealized Losses | 780 | 616 |
Available-for-sale Securities, Amortized Cost Basis | 110,766 | 134,062 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Debt Maturities, within One Year, Fair Value | 0 | 0 |
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Fair Value | 497 | 502 |
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Fair Value | 12,094 | 15,520 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 58,057 | 56,289 |
Available-for-sale Securities, Fair Value, Total | 70,648 | 72,311 |
Available For Sale Securities, Gross Unrealized Gains | 3,022 | 3,379 |
Available For Sale Securities, Gross Unrealized Losses | 7 | 34 |
Available-for-sale Securities, Amortized Cost Basis | $ 67,633 | $ 68,966 |
Securities Continuous Unrealize
Securities Continuous Unrealized Loss (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 50,769 | $ 13,335 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 370 | 56 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 43,597 | 66,870 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 935 | 1,424 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 94,366 | 80,205 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 1,305 | 1,480 |
US Government and Government Agencies and Authorities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 8,157 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 2 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 24,444 | 24,126 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 516 | 830 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 32,601 | 24,126 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 518 | 830 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 42,345 | 9,078 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 367 | 22 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 18,184 | 42,744 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 413 | 594 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 60,529 | 51,822 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 780 | 616 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 267 | 4,257 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 1 | 34 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 969 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 6 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,236 | 4,257 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | $ 7 | $ 34 |
Securities OTTI (Details)
Securities OTTI (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Debt Securties Other Than Temporary Impairment Charges [Abstract] | ||
Other Than Temporary Impairment Charges, Agency RMBS | $ 0 | $ 333 |
Other Than Temporary Impairment Charges, Debt Securities Total | 0 | 333 |
Other-Than-Temporary Impairment Charges included in earnings | 0 | 333 |
Recorded As Part Of Gross Realized Losses [Abstract] | ||
Other Than Temporary Impairment, Securities With Intent To Sell | 0 | 333 |
Recorded As Part Of Other Comprehensive [Abstract] | ||
Other Than Temporary Impairment Charges On Debt Securities, Total | $ 0 | $ 333 |
Securities Gross Realized Gain
Securities Gross Realized Gain Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract] | ||
Available-for-sale Securities, Gross Realized Gains | $ 16 | $ 467 |
Available-for-sale Securities, Gross Realized Losses | 0 | (664) |
Available-for-sale Securities, Gross Realized Gain (Loss), Net | $ 16 | $ (197) |
Securities Textuals (Details)
Securities Textuals (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Securities (Textuals) [Abstract] | ||
Available-for-sale Securities Pledged as Collateral | $ 133.3 | $ 132.2 |
Cost-method Investments, Aggregate Carrying Amount | $ 1.4 | $ 1.6 |
Loans (Details)
Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Loans And Leases Receivable Disclosure [Abstract] | ||
Loans and Leases Receivable, Gross, Commercial | $ 52,479 | $ 54,329 |
Construction And Land Development Loans | 43,694 | 37,298 |
Commericial Real Estate Loans [Abstract] | ||
Commercial Real Estate Owner Occupied Loans | 46,602 | 52,296 |
Commerical Real Estate Other Loans | 157,251 | 139,710 |
Total Commercial Real Estate Loans | 203,853 | 192,006 |
Residential Real Estate Loans [Abstract] | ||
Consumer Mortgage Loans | 70,009 | 66,489 |
Residential Real Estate Investment Property Loans | 46,664 | 41,152 |
Total Residential Real Estate Loans | 116,673 | 107,641 |
Consumer Installment And Revolving Loans | 10,220 | 12,335 |
Loans and Leases Receivable, Gross, Carrying Amount | 426,919 | 403,609 |
Loans and Leases Receivable Deferred Income | (509) | (655) |
Loans, net of unearned income | $ 426,410 | $ 402,954 |
Loans Past Due Analysis (Detail
Loans Past Due Analysis (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | $ 422,794 | $ 399,637 |
Financing Receivable, Recorded Investment, 30 To 89 Days Past Due | 1,411 | 2,855 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Total Still Accruing | 424,205 | 402,492 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,714 | 1,117 |
Loans and Leases Receivable, Gross, Carrying Amount | 426,919 | 403,609 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 52,387 | 54,106 |
Financing Receivable, Recorded Investment, 30 To 89 Days Past Due | 49 | 168 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Total Still Accruing | 52,436 | 54,274 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 43 | 55 |
Loans and Leases Receivable, Gross, Carrying Amount | 52,479 | 54,329 |
Construction And Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 43,111 | 36,483 |
Financing Receivable, Recorded Investment, 30 To 89 Days Past Due | 0 | 210 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Total Still Accruing | 43,111 | 36,693 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 583 | 605 |
Loans and Leases Receivable, Gross, Carrying Amount | 43,694 | 37,298 |
Commercial Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 46,372 | 51,832 |
Financing Receivable, Recorded Investment, 30 To 89 Days Past Due | 0 | 201 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Total Still Accruing | 46,372 | 52,033 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 230 | 263 |
Loans and Leases Receivable, Gross, Carrying Amount | 46,602 | 52,296 |
Commercial Real Estate Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 155,731 | 139,710 |
Financing Receivable, Recorded Investment, 30 To 89 Days Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Total Still Accruing | 155,731 | 139,710 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,520 | 0 |
Loans and Leases Receivable, Gross, Carrying Amount | 157,251 | 139,710 |
Commercial Real Estate Loans, Total [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 202,103 | 191,542 |
Financing Receivable, Recorded Investment, 30 To 89 Days Past Due | 0 | 201 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Total Still Accruing | 202,103 | 191,743 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,750 | 263 |
Loans and Leases Receivable, Gross, Carrying Amount | 203,853 | 192,006 |
Residential Real Estate Consumer Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 68,579 | 64,713 |
Financing Receivable, Recorded Investment, 30 To 89 Days Past Due | 1,105 | 1,736 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Total Still Accruing | 69,684 | 66,449 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 325 | 40 |
Loans and Leases Receivable, Gross, Carrying Amount | 70,009 | 66,489 |
Residential Real Estate Investment Property Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 46,435 | 40,503 |
Financing Receivable, Recorded Investment, 30 To 89 Days Past Due | 229 | 495 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Total Still Accruing | 46,664 | 40,998 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 154 |
Loans and Leases Receivable, Gross, Carrying Amount | 46,664 | 41,152 |
Residential Real Estate Loans, Total [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 115,014 | 105,216 |
Financing Receivable, Recorded Investment, 30 To 89 Days Past Due | 1,334 | 2,231 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Total Still Accruing | 116,348 | 107,447 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 325 | 194 |
Loans and Leases Receivable, Gross, Carrying Amount | 116,673 | 107,641 |
Consumer Installment and Revolving Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 10,179 | 12,290 |
Financing Receivable, Recorded Investment, 30 To 89 Days Past Due | 28 | 45 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Total Still Accruing | 10,207 | 12,335 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 13 | 0 |
Loans and Leases Receivable, Gross, Carrying Amount | $ 10,220 | $ 12,335 |
Allowance for Loan Loss (Detail
Allowance for Loan Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Financing Receivable, Allowance for Credit Losses | $ 4,836 | $ 5,268 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | (1,114) | (808) |
Financing Receivable, Allowance for Credit Losses, Recoveries | 367 | 326 |
Financing Receivable Allowance For Credit Losses Net Chargeoffs Recoveries | (747) | (482) |
Provision for loan losses | 200 | 50 |
Financing Receivable, Allowance for Credit Losses | 4,289 | 4,836 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Financing Receivable, Allowance for Credit Losses | 639 | 386 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | (100) | (46) |
Financing Receivable, Allowance for Credit Losses, Recoveries | 22 | 71 |
Financing Receivable Allowance For Credit Losses Net Chargeoffs Recoveries | (78) | 25 |
Provision for loan losses | (38) | 228 |
Financing Receivable, Allowance for Credit Losses | 523 | 639 |
Construction And Land Development Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Financing Receivable, Allowance for Credit Losses | 974 | 366 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | 0 | (235) |
Financing Receivable, Allowance for Credit Losses, Recoveries | 17 | 8 |
Financing Receivable Allowance For Credit Losses Net Chargeoffs Recoveries | 17 | (227) |
Provision for loan losses | (322) | 835 |
Financing Receivable, Allowance for Credit Losses | 669 | 974 |
Commercial Real Estate Loans, Total [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Financing Receivable, Allowance for Credit Losses | 1,928 | 3,186 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | (866) | 0 |
Financing Receivable, Allowance for Credit Losses, Recoveries | 0 | 119 |
Financing Receivable Allowance For Credit Losses Net Chargeoffs Recoveries | (866) | 119 |
Provision for loan losses | 817 | (1,377) |
Financing Receivable, Allowance for Credit Losses | 1,879 | 1,928 |
Residential Real Estate Loans, Total [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Financing Receivable, Allowance for Credit Losses | 1,119 | 1,114 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | (89) | (438) |
Financing Receivable, Allowance for Credit Losses, Recoveries | 313 | 112 |
Financing Receivable Allowance For Credit Losses Net Chargeoffs Recoveries | 224 | (326) |
Provision for loan losses | (284) | 331 |
Financing Receivable, Allowance for Credit Losses | 1,059 | 1,119 |
Consumer Installment and Revolving Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Financing Receivable, Allowance for Credit Losses | 176 | 216 |
Financing Receivable, Allowance for Credit Losses, Charge-offs | (59) | (89) |
Financing Receivable, Allowance for Credit Losses, Recoveries | 15 | 16 |
Financing Receivable Allowance For Credit Losses Net Chargeoffs Recoveries | (44) | (73) |
Provision for loan losses | 27 | 33 |
Financing Receivable, Allowance for Credit Losses | $ 159 | $ 176 |
Allowance For Loan Loss Additio
Allowance For Loan Loss Additional Information (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable Allowance For Credit Loss Additional Information [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | $ 4,168 | $ 4,642 |
Financing Receivable, Collectively Evaluated for Impairment | 423,512 | 400,338 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 121 | 194 |
Financing Receivable, Individually Evaluated for Impairment | 3,407 | 3,271 |
Allowance for loan losses | 4,289 | 4,836 |
Loans and Leases Receivable, Gross, Carrying Amount | 426,919 | 403,609 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable Allowance For Credit Loss Additional Information [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 523 | 639 |
Financing Receivable, Collectively Evaluated for Impairment | 52,431 | 54,259 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 48 | 70 |
Allowance for loan losses | 523 | 639 |
Loans and Leases Receivable, Gross, Carrying Amount | 52,479 | 54,329 |
Construction And Land Development Loans [Member] | ||
Financing Receivable Allowance For Credit Loss Additional Information [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 669 | 974 |
Financing Receivable, Collectively Evaluated for Impairment | 43,111 | 36,693 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 583 | 605 |
Allowance for loan losses | 669 | 974 |
Loans and Leases Receivable, Gross, Carrying Amount | 43,694 | 37,298 |
Commercial Real Estate Loans, Total [Member] | ||
Financing Receivable Allowance For Credit Loss Additional Information [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,758 | 1,734 |
Financing Receivable, Collectively Evaluated for Impairment | 201,077 | 190,306 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 121 | 194 |
Financing Receivable, Individually Evaluated for Impairment | 2,776 | 1,700 |
Allowance for loan losses | 1,879 | 1,928 |
Loans and Leases Receivable, Gross, Carrying Amount | 203,853 | 192,006 |
Residential Real Estate Loans, Total [Member] | ||
Financing Receivable Allowance For Credit Loss Additional Information [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,059 | 1,119 |
Financing Receivable, Collectively Evaluated for Impairment | 116,673 | 106,745 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 896 |
Allowance for loan losses | 1,059 | 1,119 |
Loans and Leases Receivable, Gross, Carrying Amount | 116,673 | 107,641 |
Consumer Installment and Revolving Loans [Member] | ||
Financing Receivable Allowance For Credit Loss Additional Information [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 159 | 176 |
Financing Receivable, Collectively Evaluated for Impairment | 10,220 | 12,335 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Allowance for loan losses | 159 | 176 |
Loans and Leases Receivable, Gross, Carrying Amount | $ 10,220 | $ 12,335 |
Loan Credit Quality Analysis (D
Loan Credit Quality Analysis (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Pass | $ 411,630 | $ 383,356 |
Financing Receivable, Recorded Investment, Special Mention | 6,683 | 11,289 |
Financing Receivable Recorded Investment, Substandard Accruing | 5,892 | 7,847 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,714 | 1,117 |
Loans and Leases Receivable, Gross, Carrying Amount | 426,919 | 403,609 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Pass | 48,038 | 49,550 |
Financing Receivable, Recorded Investment, Special Mention | 4,075 | 4,348 |
Financing Receivable Recorded Investment, Substandard Accruing | 323 | 376 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 43 | 55 |
Loans and Leases Receivable, Gross, Carrying Amount | 52,479 | 54,329 |
Construction And Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Pass | 42,458 | 35,911 |
Financing Receivable, Recorded Investment, Special Mention | 60 | 226 |
Financing Receivable Recorded Investment, Substandard Accruing | 593 | 556 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 583 | 605 |
Loans and Leases Receivable, Gross, Carrying Amount | 43,694 | 37,298 |
Commercial Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Pass | 45,772 | 49,900 |
Financing Receivable, Recorded Investment, Special Mention | 381 | 1,905 |
Financing Receivable Recorded Investment, Substandard Accruing | 219 | 228 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 230 | 263 |
Loans and Leases Receivable, Gross, Carrying Amount | 46,602 | 52,296 |
Commercial Real Estate Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Pass | 155,423 | 136,801 |
Financing Receivable, Recorded Investment, Special Mention | 36 | 2,253 |
Financing Receivable Recorded Investment, Substandard Accruing | 272 | 656 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,520 | 0 |
Loans and Leases Receivable, Gross, Carrying Amount | 157,251 | 139,710 |
Commercial Real Estate Loans, Total [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Pass | 201,195 | 186,701 |
Financing Receivable, Recorded Investment, Special Mention | 417 | 4,158 |
Financing Receivable Recorded Investment, Substandard Accruing | 491 | 884 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,750 | 263 |
Loans and Leases Receivable, Gross, Carrying Amount | 203,853 | 192,006 |
Residential Real Estate Consumer Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Pass | 64,502 | 59,646 |
Financing Receivable, Recorded Investment, Special Mention | 1,964 | 1,912 |
Financing Receivable Recorded Investment, Substandard Accruing | 3,218 | 4,891 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 325 | 40 |
Loans and Leases Receivable, Gross, Carrying Amount | 70,009 | 66,489 |
Residential Real Estate Investment Property Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Pass | 45,399 | 39,348 |
Financing Receivable, Recorded Investment, Special Mention | 112 | 624 |
Financing Receivable Recorded Investment, Substandard Accruing | 1,153 | 1,026 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 154 |
Loans and Leases Receivable, Gross, Carrying Amount | 46,664 | 41,152 |
Residential Real Estate Loans, Total [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Pass | 109,901 | 98,994 |
Financing Receivable, Recorded Investment, Special Mention | 2,076 | 2,536 |
Financing Receivable Recorded Investment, Substandard Accruing | 4,371 | 5,917 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 325 | 194 |
Loans and Leases Receivable, Gross, Carrying Amount | 116,673 | 107,641 |
Consumer Installment and Revolving Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Pass | 10,038 | 12,200 |
Financing Receivable, Recorded Investment, Special Mention | 55 | 21 |
Financing Receivable Recorded Investment, Substandard Accruing | 114 | 114 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 13 | 0 |
Loans and Leases Receivable, Gross, Carrying Amount | $ 10,220 | $ 12,335 |
Impaired Loans (Details)
Impaired Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | $ 5,074 | $ 4,337 |
Impaired Financing Receivable, with No Related Allowance, Charge-off And Payments Applied | (2,694) | (2,503) |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,380 | 1,834 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 1,027 | 1,437 |
Impaired Financing Receivable, with Related Allowance, Charge-off And Payments Applied | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,027 | 1,437 |
Impaired Financing Receivable, With Related Allowance, Related Allowance | 121 | 194 |
Impaired Financing Receivable, Unpaid Principal Balance | 6,101 | 5,774 |
Impaired Financing Receivable, Charge-off And Payments Applied | (2,694) | (2,503) |
Impaired Financing Receivable, Recorded Investment | 3,407 | 3,271 |
Impaired Financing Receivable, Related Allowance | 121 | 194 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 48 | 70 |
Impaired Financing Receivable, with No Related Allowance, Charge-off And Payments Applied | 0 | 0 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 48 | 70 |
Construction And Land Development Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 2,582 | 2,822 |
Impaired Financing Receivable, with No Related Allowance, Charge-off And Payments Applied | (1,999) | (2,217) |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 583 | 605 |
Commercial Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 308 | 331 |
Impaired Financing Receivable, with No Related Allowance, Charge-off And Payments Applied | (78) | (68) |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 230 | 263 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 1,027 | 846 |
Impaired Financing Receivable, with Related Allowance, Charge-off And Payments Applied | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,027 | 846 |
Impaired Financing Receivable, With Related Allowance, Related Allowance | 121 | 102 |
Commercial Real Estate Other Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 2,136 | |
Impaired Financing Receivable, with No Related Allowance, Charge-off And Payments Applied | (617) | |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,519 | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 591 | |
Impaired Financing Receivable, with Related Allowance, Charge-off And Payments Applied | 0 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 591 | |
Impaired Financing Receivable, With Related Allowance, Related Allowance | 92 | |
Commercial Real Estate Loans, Total [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 2,444 | 331 |
Impaired Financing Receivable, with No Related Allowance, Charge-off And Payments Applied | (695) | (68) |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,749 | 263 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 1,027 | 1,437 |
Impaired Financing Receivable, with Related Allowance, Charge-off And Payments Applied | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,027 | 1,437 |
Impaired Financing Receivable, With Related Allowance, Related Allowance | $ 121 | 194 |
Residential Real Estate Consumer Mortgage Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 934 | |
Impaired Financing Receivable, with No Related Allowance, Charge-off And Payments Applied | (192) | |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 742 | |
Residential Real Estate Investment Property Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 180 | |
Impaired Financing Receivable, with No Related Allowance, Charge-off And Payments Applied | (26) | |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 154 | |
Residential Real Estate Loans, Total [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,114 | |
Impaired Financing Receivable, with No Related Allowance, Charge-off And Payments Applied | (218) | |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $ 896 |
Impaired Loans Averages (Detail
Impaired Loans Averages (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Impaired Financing Receivable, Average Recorded Investment [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | $ 3,321 | $ 4,205 |
Impaired Financing Receivable, Interest Income, Accrual Method | 333 | 119 |
Commercial and Industrial Loans [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 60 | 98 |
Impaired Financing Receivable, Interest Income, Accrual Method | 4 | 7 |
Construction And Land Development Loans [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 603 | 1,032 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Commercial Real Estate Owner Occupied Loans [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 1,328 | 1,308 |
Impaired Financing Receivable, Interest Income, Accrual Method | 62 | 40 |
Commercial Real Estate Other Loans [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 911 | 872 |
Impaired Financing Receivable, Interest Income, Accrual Method | 18 | 29 |
Commercial Real Estate Loans, Total [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 2,239 | 2,180 |
Impaired Financing Receivable, Interest Income, Accrual Method | 80 | 69 |
Residential Real Estate Consumer Mortgage Loans [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 349 | 731 |
Impaired Financing Receivable, Interest Income, Accrual Method | 173 | 43 |
Residential Real Estate Investment Property Loans [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 70 | 164 |
Impaired Financing Receivable, Interest Income, Accrual Method | 76 | 0 |
Residential Real Estate Loans, Total [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Line Items] | ||
Impaired Financing Receivable, Average Recorded Investment | 419 | 895 |
Impaired Financing Receivable, Interest Income, Accrual Method | $ 249 | $ 43 |
Troubled Debt Restructuring (De
Troubled Debt Restructuring (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Impaired Financing Receivable And Troubled Debt Restructing [Line Items] | ||
Impaired Financing Receivable, Troubled Debt Restructuring, Still Accruing | $ 1,075 | $ 2,249 |
Impaired Financing Receivable, Troubled Debt Restructuring, Nonaccrual | 812 | 1,022 |
Impaired Financing Receivable, Trouble Debt Structuring, Total | 1,887 | 3,271 |
Impaired Financing Receivable, Troubled Debt Restructuring, Allowance for Credit Losses | 121 | 194 |
Commercial and Industrial Loans [Member] | ||
Impaired Financing Receivable And Troubled Debt Restructing [Line Items] | ||
Impaired Financing Receivable, Troubled Debt Restructuring, Still Accruing | 48 | 70 |
Impaired Financing Receivable, Troubled Debt Restructuring, Nonaccrual | 0 | 0 |
Impaired Financing Receivable, Trouble Debt Structuring, Total | 48 | 70 |
Impaired Financing Receivable, Troubled Debt Restructuring, Allowance for Credit Losses | 0 | 0 |
Construction And Land Development Loans [Member] | ||
Impaired Financing Receivable And Troubled Debt Restructing [Line Items] | ||
Impaired Financing Receivable, Troubled Debt Restructuring, Still Accruing | 0 | 0 |
Impaired Financing Receivable, Troubled Debt Restructuring, Nonaccrual | 582 | 605 |
Impaired Financing Receivable, Trouble Debt Structuring, Total | 582 | 605 |
Impaired Financing Receivable, Troubled Debt Restructuring, Allowance for Credit Losses | 0 | 0 |
Commercial Real Estate Owner Occupied Loans [Member] | ||
Impaired Financing Receivable And Troubled Debt Restructing [Line Items] | ||
Impaired Financing Receivable, Troubled Debt Restructuring, Still Accruing | 1,027 | 846 |
Impaired Financing Receivable, Troubled Debt Restructuring, Nonaccrual | 230 | 263 |
Impaired Financing Receivable, Trouble Debt Structuring, Total | 1,257 | 1,109 |
Impaired Financing Receivable, Troubled Debt Restructuring, Allowance for Credit Losses | 121 | 102 |
Commercial Real Estate Other Loans [Member] | ||
Impaired Financing Receivable And Troubled Debt Restructing [Line Items] | ||
Impaired Financing Receivable, Troubled Debt Restructuring, Still Accruing | 591 | |
Impaired Financing Receivable, Troubled Debt Restructuring, Nonaccrual | 0 | |
Impaired Financing Receivable, Trouble Debt Structuring, Total | 591 | |
Impaired Financing Receivable, Troubled Debt Restructuring, Allowance for Credit Losses | 92 | |
Commercial Real Estate Loans, Total [Member] | ||
Impaired Financing Receivable And Troubled Debt Restructing [Line Items] | ||
Impaired Financing Receivable, Troubled Debt Restructuring, Still Accruing | 1,027 | 1,437 |
Impaired Financing Receivable, Troubled Debt Restructuring, Nonaccrual | 230 | 263 |
Impaired Financing Receivable, Trouble Debt Structuring, Total | 1,257 | 1,700 |
Impaired Financing Receivable, Troubled Debt Restructuring, Allowance for Credit Losses | $ 121 | 194 |
Residential Real Estate Consumer Mortgage Loans [Member] | ||
Impaired Financing Receivable And Troubled Debt Restructing [Line Items] | ||
Impaired Financing Receivable, Troubled Debt Restructuring, Still Accruing | 742 | |
Impaired Financing Receivable, Troubled Debt Restructuring, Nonaccrual | 0 | |
Impaired Financing Receivable, Trouble Debt Structuring, Total | 742 | |
Impaired Financing Receivable, Troubled Debt Restructuring, Allowance for Credit Losses | 0 | |
Residential Real Estate Investment Property Loans [Member] | ||
Impaired Financing Receivable And Troubled Debt Restructing [Line Items] | ||
Impaired Financing Receivable, Troubled Debt Restructuring, Still Accruing | 0 | |
Impaired Financing Receivable, Troubled Debt Restructuring, Nonaccrual | 154 | |
Impaired Financing Receivable, Trouble Debt Structuring, Total | 154 | |
Impaired Financing Receivable, Troubled Debt Restructuring, Allowance for Credit Losses | 0 | |
Residential Real Estate Loans, Total [Member] | ||
Impaired Financing Receivable And Troubled Debt Restructing [Line Items] | ||
Impaired Financing Receivable, Troubled Debt Restructuring, Still Accruing | 742 | |
Impaired Financing Receivable, Troubled Debt Restructuring, Nonaccrual | 154 | |
Impaired Financing Receivable, Trouble Debt Structuring, Total | 896 | |
Impaired Financing Receivable, Troubled Debt Restructuring, Allowance for Credit Losses | $ 0 |
Troubled Debt Restructing Modif
Troubled Debt Restructing Modifications (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modification, Number of Contracts | 4 | 2 |
Financing Receivable, Modification, Pre-Modification Recorded Investment | $ 985 | $ 1,302 |
Financing Receivable, Modifications, Post-Modifications Recorded Investment | $ 989 | $ 1,304 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modification, Number of Contracts | 1 | |
Financing Receivable, Modification, Pre-Modification Recorded Investment | $ 61 | |
Financing Receivable, Modifications, Post-Modifications Recorded Investment | $ 66 | |
Construction And Land Development Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modification, Number of Contracts | 1 | |
Financing Receivable, Modification, Pre-Modification Recorded Investment | $ 116 | |
Financing Receivable, Modifications, Post-Modifications Recorded Investment | $ 113 | |
Commercial Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modification, Number of Contracts | 1 | |
Financing Receivable, Modification, Pre-Modification Recorded Investment | $ 216 | |
Financing Receivable, Modifications, Post-Modifications Recorded Investment | $ 218 | |
Commercial Real Estate Other Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modification, Number of Contracts | 1 | 1 |
Financing Receivable, Modification, Pre-Modification Recorded Investment | $ 592 | $ 590 |
Financing Receivable, Modifications, Post-Modifications Recorded Investment | $ 592 | $ 592 |
Commercial Real Estate Loans, Total [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modification, Number of Contracts | 2 | 1 |
Financing Receivable, Modification, Pre-Modification Recorded Investment | $ 808 | $ 590 |
Financing Receivable, Modifications, Post-Modifications Recorded Investment | $ 810 | $ 592 |
Residential Real Estate Consumer Mortgage Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modification, Number of Contracts | 1 | |
Financing Receivable, Modification, Pre-Modification Recorded Investment | $ 712 | |
Financing Receivable, Modifications, Post-Modifications Recorded Investment | $ 712 | |
Residential Real Estate Loans, Total [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modification, Number of Contracts | 1 | |
Financing Receivable, Modification, Pre-Modification Recorded Investment | $ 712 | |
Financing Receivable, Modifications, Post-Modifications Recorded Investment | $ 712 |
Troubled Debt Restructing Defau
Troubled Debt Restructing Defaults (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Financing Receivable, Modifications, Subsequent Default [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 2 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 412 | $ 272 |
Commercial Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Modifications, Subsequent Default [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 262 | $ 272 |
Commercial Real Estate Loans, Total [Member] | ||
Financing Receivable, Modifications, Subsequent Default [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 262 | $ 272 |
Residential Real Estate Investment Property Loans [Member] | ||
Financing Receivable, Modifications, Subsequent Default [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 150 | |
Residential Real Estate Loans, Total [Member] | ||
Financing Receivable, Modifications, Subsequent Default [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 150 |
Loans Textuals (Details)
Loans Textuals (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Loan and Lease Disclosure (Textuals) [Abstract] | ||
Percentage Of Loans Secured By Real Estate | 85.30% | |
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans | $ 133 | $ 102 |
Premises and Equipment (Details
Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment, Net, by Type [Abstract] | ||
Land | $ 6,106 | $ 5,916 |
Buildings and Improvements | 9,448 | 8,606 |
Furniture, Fixtures, And Equipment | 3,159 | 3,214 |
Total Premises and Equipment | 18,713 | 17,736 |
Less: Accumulated Depreciation and Equipment | (6,847) | (6,929) |
Premises and equipment, net | $ 11,866 | $ 10,807 |
Property, Plant Equipment Textu
Property, Plant Equipment Textuals (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment, Net, by Type [Abstract] | ||
Depreciation Expense | $ 475 | $ 380 |
Mortgage Servicing Rights, Ne68
Mortgage Servicing Rights, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Servicing Asset at Amortized Value, Balance [Roll Forward] | ||
Servicing Asset at Amortized Cost, Beginning | $ 2,388 | $ 2,350 |
Servicing Asset at Amortized Value, Additions | 529 | 465 |
Servicing Asset at Amortized Value, Amortization | (654) | (374) |
Servicing Asset at Amortized Value, Valuation Allowance | 53 | (53) |
Servicing Asset at Amortized Cost, Ending | 2,316 | 2,388 |
Valuation Allowance for Impairment of Recognized Servicing Assets, Balance [Abstract] | ||
Valuation Allowance for Impairment of Recognized Servicing Assets, Beginning Balance | 53 | 0 |
Valuation Allowance for Impairment of Recognized Servicing Assets, Ending Balance | 0 | 53 |
Servicing Asset at Amortized Value, Fair Value [Abstract] | ||
Servicing Asset at Amortized Value, Fair Value, Beginning | 3,238 | 3,452 |
Servicing Asset at Amortized Value, Fair Value, Ending | $ 3,086 | $ 3,238 |
Mortgage Servicing Rights, ne69
Mortgage Servicing Rights, net Data and Assumptions for Fair Value Calculation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Servicing Assets And Servicing Liabilities At Fair Value, Assumptions Used To Estimate Fair Value, Unpaid Principal Balance | $ 358,928 | $ 360,956 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 10.00% | 9.60% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 10.00% | 10.00% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Weighted Average Coupon Interest Rate | 3.90% | 3.90% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Weighted Average Life | 22 years 2 months | 22 years 3 months |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Weighted Average Servicing Fee | 0.25% | 0.25% |
Mortgage Servicing Rights, ne70
Mortgage Servicing Rights, net Estimated Amortization Expense For Future Periods (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 348 |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 298 |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 256 |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 216 |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $ 187 |
Mortgage Servicing Rights Textu
Mortgage Servicing Rights Textuals (Details) | Dec. 31, 2015 |
Mortgage Servicing [Abstract] | |
Weighted Average Amortization In Years | 6.1 |
Deposits Time Deposit Maturitie
Deposits Time Deposit Maturities (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Time Deposits, Fiscal Year Maturity [Abstract] | |
Time Deposit Maturities, Next Twelve Months | $ 95,611 |
Time Deposit Maturities, Year Two | 56,854 |
Time Deposit Maturities, Year Three | 24,366 |
Time Deposit Maturities, Year Four | 33,027 |
Time Deposit Maturities, Year Five | 9,567 |
Time Deposit Maturities, after Year Five | 173 |
Time Deposits, Total | $ 219,598 |
Deposits Textuals (Details)
Deposits Textuals (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Time Deposits [Abstract] | ||
Time Deposits, $250,000 or More | $ 59.6 | $ 62.4 |
Short-term Borrowings (Details)
Short-term Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Federal Funds Purchased [Member] | ||
Short-term Debt [Line Items] | ||
Short-term Debt | $ 0 | $ 0 |
Short-term Debt, Weighted Average Interest Rate | 0.00% | 0.00% |
Short-term Debt, Average Outstanding Amount | $ 16 | $ 16 |
Short-term Debt, Weighted Average Interest Rate During Year | 0.90% | 0.90% |
Short-term Debt, Maximum Month-end Outstanding Amount | $ 0 | $ 0 |
Securities Sold under Agreements to Repurchase [Member] | ||
Short-term Debt [Line Items] | ||
Short-term Debt | $ 2,951 | $ 4,681 |
Short-term Debt, Weighted Average Interest Rate | 0.50% | 0.50% |
Short-term Debt, Average Outstanding Amount | $ 3,585 | $ 3,797 |
Short-term Debt, Weighted Average Interest Rate During Year | 0.50% | 0.50% |
Short-term Debt, Maximum Month-end Outstanding Amount | $ 4,806 | $ 4,681 |
Short-term Borrowings Textuals
Short-term Borrowings Textuals (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Short-term Debt: | ||
Federal Funds, Borrowing Capacity | $ 41 | |
Available For Sale Securities Pledged As Collateral For Securities Sold Under Agreements to Repurchase | $ 6.3 | $ 6.7 |
Long-term Debt (Details)
Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | $ 7,217 | $ 12,217 |
Long-term Debt, Weighted Average Interest Rate | 3.63% | 3.47% |
FHLB Advances, Due 2018 | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | $ 5,000 | |
Long-term Debt, Weighted Average Interest Rate | 3.59% | |
Subordinated Debentures, due 2033 | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Gross | $ 7,217 | $ 7,217 |
Long-term Debt, Weighted Average Interest Rate | 3.63% | 3.38% |
Long-term Debt Maturities (Deta
Long-term Debt Maturities (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Maturities of Long-term Debt [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $ 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 7,217 | |
Long-term Debt, Total | 7,217 | $ 12,217 |
Subordinated Debentures, due 2033 | ||
Maturities of Long-term Debt [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 7,217 | |
Long-term Debt, Total | $ 7,217 |
Long-Term Debt Textuals (Detail
Long-Term Debt Textuals (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Long-term debt: | ||
Qualifying Residential Mortgages Pledged For Long-Term Advances | $ 31.9 | $ 35.4 |
Other Comprehensive Income (Det
Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Pre-Tax Amount [Member] | ||
Schedule Of Other Comprehesive Income [Line Items] | ||
Unrealized Net Holding Gain (Loss) On All Other Securitiies | $ (785) | $ 10,553 |
Reclassification adjustment for loss (gain) on securities recognized in earnings | (16) | 530 |
Other Comprehensive Income (Loss) | (801) | 11,083 |
Tax Benefit (Expense) [Member] | ||
Schedule Of Other Comprehesive Income [Line Items] | ||
Unrealized Net Holding Gain (Loss) On All Other Securitiies | 289 | (3,893) |
Reclassification adjustment for loss (gain) on securities recognized in earnings | 6 | (195) |
Other Comprehensive Income (Loss) | 295 | (4,088) |
Net Of Tax Amount [Member] | ||
Schedule Of Other Comprehesive Income [Line Items] | ||
Unrealized Net Holding Gain (Loss) On All Other Securitiies | (496) | 6,660 |
Reclassification adjustment for loss (gain) on securities recognized in earnings | (10) | 335 |
Other Comprehensive Income (Loss) | $ (506) | $ 6,995 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||
Current Federal Tax Expense (Benefit) | $ 1,805 | $ 1,601 |
Current State and Local Tax Expense (Benefit) | 395 | 397 |
Current Income Tax Expense (Benefit), Total | 2,200 | 1,998 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||
Deferred Federal Income Tax Expense (Benefit) | 586 | 731 |
Deferred State and Local Income Tax Expense (Benefit) | 34 | 55 |
Deferred Income Tax Expense (Benefit), Total | 620 | 786 |
Income Tax Expense (Benefit), Continuing Operations, Total | $ 2,820 | $ 2,784 |
Income Tax Expense Reconciliati
Income Tax Expense Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Line Items] | ||
Earnings before income taxes | $ 10,678 | $ 10,232 |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | $ 3,631 | $ 3,479 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 34.00% | 34.00% |
Income Tax Reconciliation, Tax Exempt Income | $ (873) | $ (803) |
Effective Income Tax Rate Reconciliation, Tax Exempt Income | (8.10%) | (7.80%) |
Income Tax Reconciliation, State and Local Income Taxes | $ 280 | $ 295 |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes | 2.60% | 2.90% |
Income Tax Reconciliation, Bank Owned Life Insurance | $ (254) | $ (170) |
Effective Income Tax Rate Reconciliation, Bank Owned Life Insurance | (2.40%) | (1.70%) |
Income Tax Reconciliation, Other Adjustments | $ 36 | $ (17) |
Effective Income Tax Rate Reconciliation, Other Adjustments | 0.30% | (0.20%) |
Income Tax Expense (Benefit), Continuing Operations, Total | $ 2,820 | $ 2,784 |
Effective Income Tax Rate, Continuing Operations | 26.40% | 27.20% |
Income Tax, Components of Defer
Income Tax, Components of Deferred Tax Asset and Liability (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Deferred Tax Assets, Gross [Abstract] | |||
Deferred Tax Asset, Allowance For Loan Loss | $ 1,583 | $ 1,784 | |
Deferred Tax Assets, Other Real Estate Owned Write-downs | 20 | 20 | |
Deferred Tax Assets, Tax Credit Carryforwards, Other | 484 | 816 | |
Deferred Tax Assets, Other | 519 | 480 | |
Deferred Tax Assets, Gross | 2,606 | 3,100 | |
Deferred Tax Liabilities [Abstract] | |||
Deferred Tax Liabilities, Property, Plant and Equipment | 219 | 69 | |
Deferred Tax Liabilities, Unrealized Gains on Available-for-Sale Securities, Gross | 1,132 | 1,427 | |
Deferred Tax Liabilities, Originated Mortgage Servicing Rights | 855 | 881 | |
Deferred Tax Liabilities, Other | 205 | 204 | |
Deferred Income Tax Liabilities, Gross, Total | 2,411 | 2,581 | |
Deferred Tax Assets (Liabilities), Net | $ 195 | $ 519 | $ 5,393 |
Change in Net Deferred Tax Asse
Change in Net Deferred Tax Asset (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Change In Net Deferred Tax Asset (Liability) [Rollforward] | ||
Deferred Tax Assets (Liabilities), Net | $ 519 | $ 5,393 |
Deferred Tax (Expense) Benefit Related To Continuing Operations | (620) | (786) |
Deferred Taxes, Stockholders' Equity For Change In Accumulated Other Comprehensive (Income) Loss | 296 | (4,088) |
Deferred Tax Assets (Liabilities), Net | $ 195 | $ 519 |
Employee Benefits Textuals (Det
Employee Benefits Textuals (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ||
401k Employer Matching Contribution | $ 116 | $ 122 |
Derivative Instruments (Details
Derivative Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | ||
Derivative, Notional Amount1 | $ 8,634 | $ 9,334 |
DerivativeAssetFairValueGrossAsset | 440 | 634 |
Derivative Asset, Fair Value, Gross Liability | 440 | 634 |
Derivative, Gain (Loss) on Derivative, Net | 0 | 0 |
Derivative, Interest Rate Swap, Pay Fixed, Receive Variable [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount1 | 4,317 | 4,667 |
DerivativeAssetFairValueGrossAsset | 0 | 0 |
Derivative Asset, Fair Value, Gross Liability | 440 | 634 |
Derivative, Gain (Loss) on Derivative, Net | 194 | 210 |
Derivative, Interest Rate Swap, Pay Variable, Receive Fixed [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount1 | 4,317 | 4,667 |
DerivativeAssetFairValueGrossAsset | 440 | 634 |
Derivative Asset, Fair Value, Gross Liability | 0 | 0 |
Derivative, Gain (Loss) on Derivative, Net | $ (194) | $ (210) |
Commitment and Contingencies (D
Commitment and Contingencies (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Commitments to Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Amount of Commitment | $ 52,230 | $ 49,824 |
Financial Standby Letter of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Amount of Commitment | $ 8,221 | $ 8,337 |
Commitments and Contingencies T
Commitments and Contingencies Textuals (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Liabilty Recorded For Stanby Letter of Credit [Abstract] | ||
Liability Recorded For Standy Letters Of Credit | $ 69 | $ 72 |
Operating Leases, Future Minimum Payments Due [Abstract] | ||
Operating Leases, Future Minimum Payments Due, Current | 220 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 125 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 35 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 30 | |
Operating Leases, Future Minimum Payments, Due in Five Years | $ 3 |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ||
Fair Value Disclosure, Securities Available-for-Sale [Abstract] | ||
Fair Value Disclosure, Agency Obligations | $ 60,085 | $ 60,249 |
Fair Value Disclosure, Agency RMBS | 110,954 | 135,043 |
Fair Value Disclosure, State and Political Subdivisions | 70,648 | 72,311 |
Fair Value Disclosure, Securities Available-for-Sale, Total | 241,687 | 267,603 |
Other Assets, Fair Value Disclosure | 440 | 634 |
Assets, Fair Value Disclosure, Recurring | 242,127 | 268,237 |
Liabilities Fair Value Disclosure [Abstract] | ||
Other Liabilities, Fair Value Disclosure | 440 | 634 |
Liabilities, Fair Value Disclosure, Recurring, Total | 440 | 634 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Abstract] | ||
Loans Held-for-sale, Fair Value Disclosure | 1,540 | 1,974 |
Impaired Loans, Fair Value Disclosure | 3,286 | 3,077 |
Other Real Esate Owned, Fair Value Disclosure | 252 | 534 |
Servicing Asset at Fair Value, Amount | 2,316 | 2,388 |
Assets, Fair Value Disclosure, Nonrecurring | 7,394 | 7,973 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value Disclosure, Securities Available-for-Sale [Abstract] | ||
Fair Value Disclosure, Agency Obligations | 0 | 0 |
Fair Value Disclosure, Agency RMBS | 0 | 0 |
Fair Value Disclosure, State and Political Subdivisions | 0 | 0 |
Fair Value Disclosure, Securities Available-for-Sale, Total | 0 | 0 |
Other Assets, Fair Value Disclosure | 0 | 0 |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Liabilities Fair Value Disclosure [Abstract] | ||
Other Liabilities, Fair Value Disclosure | 0 | 0 |
Liabilities, Fair Value Disclosure, Recurring, Total | 0 | 0 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Abstract] | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 |
Impaired Loans, Fair Value Disclosure | 0 | 0 |
Other Real Esate Owned, Fair Value Disclosure | 0 | 0 |
Servicing Asset at Fair Value, Amount | 0 | 0 |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value Disclosure, Securities Available-for-Sale [Abstract] | ||
Fair Value Disclosure, Agency Obligations | 60,085 | 60,249 |
Fair Value Disclosure, Agency RMBS | 110,954 | 135,043 |
Fair Value Disclosure, State and Political Subdivisions | 70,648 | 72,311 |
Fair Value Disclosure, Securities Available-for-Sale, Total | 241,687 | 267,603 |
Other Assets, Fair Value Disclosure | 440 | 634 |
Assets, Fair Value Disclosure, Recurring | 242,127 | 268,237 |
Liabilities Fair Value Disclosure [Abstract] | ||
Other Liabilities, Fair Value Disclosure | 440 | 634 |
Liabilities, Fair Value Disclosure, Recurring, Total | 440 | 634 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Abstract] | ||
Loans Held-for-sale, Fair Value Disclosure | 1,540 | 1,974 |
Impaired Loans, Fair Value Disclosure | 0 | 0 |
Other Real Esate Owned, Fair Value Disclosure | 0 | 0 |
Servicing Asset at Fair Value, Amount | 0 | 0 |
Assets, Fair Value Disclosure, Nonrecurring | 1,540 | 1,974 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Disclosure, Securities Available-for-Sale [Abstract] | ||
Fair Value Disclosure, Agency Obligations | 0 | 0 |
Fair Value Disclosure, Agency RMBS | 0 | 0 |
Fair Value Disclosure, State and Political Subdivisions | 0 | 0 |
Fair Value Disclosure, Securities Available-for-Sale, Total | 0 | 0 |
Other Assets, Fair Value Disclosure | 0 | 0 |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Liabilities Fair Value Disclosure [Abstract] | ||
Other Liabilities, Fair Value Disclosure | 0 | 0 |
Liabilities, Fair Value Disclosure, Recurring, Total | 0 | 0 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Abstract] | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 |
Impaired Loans, Fair Value Disclosure | 3,286 | 3,077 |
Other Real Esate Owned, Fair Value Disclosure | 252 | 534 |
Servicing Asset at Fair Value, Amount | 2,316 | 2,388 |
Assets, Fair Value Disclosure, Nonrecurring | $ 5,854 | $ 5,999 |
Fair Value Unobservable Inputs
Fair Value Unobservable Inputs (Details) - Fair Value, Measurements, Nonrecurring [Member] - Carrying (Reported) Amount, Fair Value Disclosure [Member] $ in Thousands | Dec. 31, 2015USD ($) |
Impaired Loans [Member] | |
Schedule Of Fair Value Significant Unobservable Inputs Used [Line Items] | |
Assets, Fair Value Disclosure | $ 3,286 |
Impaired Loans [Member] | Appraisal, Appraisal Discount [Member] | |
Schedule Of Fair Value Significant Unobservable Inputs Used [Line Items] | |
Unobservable Input, Weighted Average of Input Percent | 25.70% |
Other Real Estate Owned [Member] | |
Schedule Of Fair Value Significant Unobservable Inputs Used [Line Items] | |
Assets, Fair Value Disclosure | $ 252 |
Other Real Estate Owned [Member] | Appraisal, Appraisal Discount [Member] | |
Schedule Of Fair Value Significant Unobservable Inputs Used [Line Items] | |
Unobservable Input, Weighted Average of Input Percent | 6.00% |
Mortgage Servicing Rights [Member] | |
Schedule Of Fair Value Significant Unobservable Inputs Used [Line Items] | |
Assets, Fair Value Disclosure | $ 2,316 |
Mortgage Servicing Rights [Member] | Discounted Cash Flow, Prepayment Speed [Member] | |
Schedule Of Fair Value Significant Unobservable Inputs Used [Line Items] | |
Unobservable Input, Weighted Average of Input Percent | 10.00% |
Mortgage Servicing Rights [Member] | Discounted Cash Flow, Discount Rate [Member] | |
Schedule Of Fair Value Significant Unobservable Inputs Used [Line Items] | |
Unobservable Input, Weighted Average of Input Percent | 10.00% |
Fair Value Financial Instrument
Fair Value Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ||
Fair Value, Financial Assets: [Abstract] | ||
Fair Value, Financial Instruments, Loans, Net | $ 422,121 | $ 398,118 |
Fair Value, Financial Instruments, Loans Held For Sale | 1,540 | 1,974 |
Fair Value, Financial Liabilities: [Abstract] | ||
Fair Value, Financial Instruments, Time Deposits | 219,598 | 249,126 |
Fair Value, Financial Instruments, Long-term Debt | 7,217 | 12,217 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ||
Fair Value, Financial Assets: [Abstract] | ||
Fair Value, Financial Instruments, Loans, Net | 427,340 | 407,839 |
Fair Value, Financial Instruments, Loans Held For Sale | 1,574 | 2,044 |
Fair Value, Financial Liabilities: [Abstract] | ||
Fair Value, Financial Instruments, Time Deposits | 220,093 | 251,365 |
Fair Value, Financial Instruments, Long-term Debt | 7,217 | 12,558 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Financial Assets: [Abstract] | ||
Fair Value, Financial Instruments, Loans, Net | 0 | 0 |
Fair Value, Financial Instruments, Loans Held For Sale | 0 | 0 |
Fair Value, Financial Liabilities: [Abstract] | ||
Fair Value, Financial Instruments, Time Deposits | 0 | 0 |
Fair Value, Financial Instruments, Long-term Debt | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Financial Assets: [Abstract] | ||
Fair Value, Financial Instruments, Loans, Net | 0 | 0 |
Fair Value, Financial Instruments, Loans Held For Sale | 1,574 | 2,044 |
Fair Value, Financial Liabilities: [Abstract] | ||
Fair Value, Financial Instruments, Time Deposits | 220,093 | 251,365 |
Fair Value, Financial Instruments, Long-term Debt | 7,217 | 12,558 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Financial Assets: [Abstract] | ||
Fair Value, Financial Instruments, Loans, Net | 427,340 | 407,839 |
Fair Value, Financial Instruments, Loans Held For Sale | 0 | 0 |
Fair Value, Financial Liabilities: [Abstract] | ||
Fair Value, Financial Instruments, Time Deposits | 0 | 0 |
Fair Value, Financial Instruments, Long-term Debt | $ 0 | $ 0 |
Related Party Transactions (Det
Related Party Transactions (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Loans and Leases Receivable, Related Parties [Roll Forward] | |
Loans and Leases Receivable, Related Parties | $ 4,841 |
Loans and Leases Receivable, Related Parties, Additions | 1,428 |
Loans and Leases Receivable, Related Parties, Payments | (1,457) |
Loans And Leases Receivable Related Parties, Change in Directors And Executive Officers | 1,097 |
Loans and Leases Receivable, Related Parties | $ 3,715 |
Related Party Transactions Text
Related Party Transactions Textuals (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Related Party Transactions [Abstract] | ||
Related Party Transactions, Construction Contract Payments | $ 1,200 | $ 100 |
Related Party Deposit Liabilities | $ 22,000 | $ 20,300 |
Regulatory Capital (Details)
Regulatory Capital (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Auburn National Bancorporation [Member] | ||
Tier One Risk Based Capital [Abstract] | ||
Tier One Risk Based Capital | $ 84,268 | $ 80,356 |
Tier One Risk Based Capital to Risk Weighted Assets | 16.57% | 17.45% |
Tier One Risk Based Capital Required for Capital Adequacy | $ 30,515 | $ 18,419 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | 4.00% |
Common Equity Tier One Capital [Abstract] | ||
Common Equity Tier One Capital | $ 77,714 | |
Common Equity Tier One Captial To Risk Weighted Assets | 15.28% | |
Common Equity Tier One Captial Required For Capital Adequacy | $ 22,886 | |
Common Equity Tier One Captial Required for Capital Adequacy To Risk Weighted Assets | 4.50% | |
Total Risk-Based Capital [Abstract] | ||
Total Risk Based Capital | $ 88,682 | $ 85,356 |
Total Risk Based Capital to Risk Weighted Assets | 17.44% | 18.54% |
Total Risk Based Capital Required for Capital Adequacy | $ 40,687 | $ 36,839 |
Total Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Tier One Leverage Capital [Abstract] | ||
Tier One Leverage Capital | $ 84,268 | $ 80,356 |
Tier One Leverage Capital to Average Assets | 10.35% | 10.32% |
Tier One Leverage Capital Required for Capital Adequacy | $ 32,553 | $ 31,133 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
AuburnBank [Member] | ||
Tier One Risk Based Capital [Abstract] | ||
Tier One Risk Based Capital | $ 82,848 | $ 78,968 |
Tier One Risk Based Capital to Risk Weighted Assets | 16.26% | 17.11% |
Tier One Risk Based Capital Required for Capital Adequacy | $ 30,577 | $ 18,463 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | 4.00% |
Tier One Risk Based Capital Required to be Well Capitalized | $ 40,769 | $ 27,695 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 6.00% |
Common Equity Tier One Capital [Abstract] | ||
Common Equity Tier One Capital | $ 82,848 | |
Common Equity Tier One Captial To Risk Weighted Assets | 16.26% | |
Common Equity Tier One Captial Required For Capital Adequacy | $ 22,933 | |
Common Equity Tier One Captial Required for Capital Adequacy To Risk Weighted Assets | 4.50% | |
Common Equity Tier One Captial Required For Well Capitalized | $ 33,125 | |
Common Equity Tier One Captial Required For Well Capitalized To Risk Weighted Assets | 6.50% | |
Total Risk-Based Capital [Abstract] | ||
Total Risk Based Capital | $ 87,262 | $ 83,968 |
Total Risk Based Capital to Risk Weighted Assets | 17.12% | 18.19% |
Total Risk Based Capital Required for Capital Adequacy | $ 40,769 | $ 36,927 |
Total Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Total Risk Based Capital Required to be Well Capitalized | $ 50,962 | $ 46,158 |
Total Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier One Leverage Capital [Abstract] | ||
Tier One Leverage Capital | $ 82,848 | $ 78,968 |
Tier One Leverage Capital to Average Assets | 10.19% | 10.16% |
Tier One Leverage Capital Required for Capital Adequacy | $ 32,519 | $ 31,099 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Tier One Leverage Capital Required to be Well Capitalized | $ 40,649 | $ 38,873 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Regulatory Capital Textuals (De
Regulatory Capital Textuals (Details) $ in Millions | Dec. 31, 2015USD ($) |
Regulatory Capital Requirements [Abstract] | |
Regulatory Capital, Dividends Without Approval Of Regulators | $ 12.3 |
Regulatory Capital, Restricted Investment From Dividends | $ 73.2 |
Auburn National Bancorporatio95
Auburn National Bancorporation - Parent Only, Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Assets: | |||
Cash and due from banks | $ 9,806 | $ 12,856 | |
Premises and equipment, net | 11,866 | 10,807 | |
Other assets | 8,360 | 8,688 | |
Total assets | 817,189 | 789,231 | |
Liabilities: | |||
Accrued expenses and other liabilities | 3,445 | 3,144 | |
Long-term debt | 7,217 | 12,217 | |
Total liabilities | 737,240 | 713,432 | |
Stockholders' equity: | |||
Total stockholders' equity | 79,949 | 75,799 | $ 64,485 |
Total liabilities and stockholders' equity | 817,189 | 789,231 | |
Parent Company [Member] | |||
Assets: | |||
Cash and due from banks | 2,187 | 2,311 | |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 85,529 | 81,410 | |
Other assets | 845 | 846 | |
Total assets | 88,561 | 84,567 | |
Liabilities: | |||
Accrued expenses and other liabilities | 1,395 | 1,551 | |
Long-term debt | 7,217 | 7,217 | |
Total liabilities | 8,612 | 8,768 | |
Stockholders' equity: | |||
Total stockholders' equity | 79,949 | 75,799 | |
Total liabilities and stockholders' equity | $ 88,561 | $ 84,567 |
Auburn National Bancorporatio96
Auburn National Bancorporation - Parent Only, Statement of Earnings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income: | ||
Other noninterest income | $ 1,502 | $ 1,454 |
Other Expenses [Abstract] | ||
Total interest expense | 4,435 | 5,364 |
Total noninterest expense | 16,372 | 15,104 |
Income Tax Expense (Benefit) | 2,820 | 2,784 |
Net earnings | 7,858 | 7,448 |
Parent Company [Member] | ||
Income: | ||
Dividends from bank subsidiary | 3,450 | 3,377 |
Other noninterest income | 135 | 147 |
Total income | 3,585 | 3,524 |
Other Expenses [Abstract] | ||
Total interest expense | 236 | 236 |
Total noninterest expense | 195 | 206 |
Operating Expenses | 431 | 442 |
Earnings Before Income Tax Expense (Benefit) And Equity In Undistributed Earnings Of Bank Subsidary | 3,154 | 3,082 |
Income Tax Expense (Benefit) | (80) | (114) |
Earnings Before Equity In Undistributed Earnings Of Bank Subsidary | 3,234 | 3,196 |
Equity In Undistributed Earnings Of Bank Subsidary | 4,624 | 4,252 |
Net earnings | $ 7,858 | $ 7,448 |
Auburn National Bancorporatio97
Auburn National Bancorporation - Parent Only, Statement of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities: | ||
Net earnings | $ 7,858 | $ 7,448 |
Adjustments to reconcile net earnings to net cash provided by operating activties: | ||
Depreciation and amortization | 1,166 | 780 |
Net increase in other assets | (350) | (27) |
Net increase in accrued expenses and other liabilities | 304 | 518 |
Net cash provided by operating activities | 10,852 | 10,531 |
Cash flows from investing activities: | ||
Net cash used in investing activities | (364) | (3,980) |
Cash flows from financing activities: | ||
Dividends paid | (3,206) | (3,134) |
Net cash provided by (used in) financing activities | 19,939 | 22,730 |
Net change in cash and cash equivalents | 30,427 | 29,281 |
Cash and cash equivalents at beginning of period | 83,503 | 54,222 |
Cash and cash equivalents at end of period | 113,930 | 83,503 |
Parent Company [Member] | ||
Cash flows from operating activities: | ||
Net earnings | 7,858 | 7,448 |
Adjustments to reconcile net earnings to net cash provided by operating activties: | ||
Depreciation and amortization | 0 | 0 |
Net gain on disposition of premises and equipment | 0 | 0 |
Net increase in other assets | 1 | 0 |
Net increase in accrued expenses and other liabilities | (153) | (159) |
Equity In Distributed (Undistributed) Earnings Of Bank Subsidary | (4,624) | (4,252) |
Net cash provided by operating activities | 3,082 | 3,037 |
Cash flows from investing activities: | ||
Purchases of premises and equipment | 0 | 0 |
Proceeds from sale of premises and equipment | 0 | 0 |
Net cash used in investing activities | 0 | 0 |
Cash flows from financing activities: | ||
Dividends paid | (3,206) | (3,134) |
Net cash provided by (used in) financing activities | (3,206) | (3,134) |
Net change in cash and cash equivalents | (124) | (97) |
Cash and cash equivalents at beginning of period | 2,311 | 2,408 |
Cash and cash equivalents at end of period | $ 2,187 | $ 2,311 |