Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 28, 2018 | Jun. 30, 2017 | |
Document And Entity Information [Abstract] | |||
Entity Registrant Name | Codorus Valley Bancorp Inc | ||
Entity Filer Category | Accelerated Filer | ||
Trading Symbol | cvly | ||
Entity Central Index Key | 806,279 | ||
Entity Current Reporting Status | Yes | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Amendment Flag | false | ||
Document Type | 10-K | ||
Document Fiscal Period Focus | FY | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 8,913,398 | ||
Entity Public Float | $ 228,753,924 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Interest bearing deposits with banks | $ 55,566 | $ 54,966 |
Cash and due from banks | 23,958 | 19,066 |
Total cash and cash equivalents | 79,524 | 74,032 |
Securities, available-for-sale | 158,591 | 194,739 |
Restricted investment in bank stocks, at cost | 6,311 | 6,926 |
Loans held for sale | 1,715 | 1,548 |
Loans (net of deferred fees of $4,039 - 2017 and $3,685 - 2016) | 1,399,764 | 1,270,771 |
Less-allowance for loan losses | (16,689) | (14,992) |
Net loans | 1,383,075 | 1,255,779 |
Premises and equipment, net | 24,382 | 24,573 |
Goodwill | 2,301 | 2,301 |
Other assets | 53,306 | 51,689 |
Total assets | 1,709,205 | 1,611,587 |
Deposits | ||
Noninterest bearing | 246,866 | 202,639 |
Interest bearing | 1,137,641 | 1,061,538 |
Total deposits | 1,384,507 | 1,264,177 |
Short-term borrowings | 20,495 | 56,637 |
Long-term debt | 130,310 | 125,310 |
Other liabilities | 9,674 | 10,506 |
Total liabilities | 1,544,986 | 1,456,630 |
Shareholders' equity | ||
Preferred stock, par value $2.50 per share; $1,000 liquidation preference, 1,000,000 shares authorized; Series B shares issued and outstanding: 0 at December 31, 2017 and 0 at December 31, 2016 | 0 | 0 |
Common stock, par value $2.50 per share; 15,000,000 shares authorized; shares issued and outstanding: 8,906,052 at December 31, 2017 and 8,426,873 at December 31, 2016 | 22,265 | 21,067 |
Additional paid-in capital | 120,052 | 106,102 |
Retained earnings | 22,860 | 28,909 |
Accumulated other comprehensive loss | (958) | (1,121) |
Total shareholders' equity | 164,219 | 154,957 |
Total liabilities and shareholders' equity | $ 1,709,205 | $ 1,611,587 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Loans, deferred fees | $ 4,039 | $ 3,685 |
Shareholders' equity | ||
Common stock, par value | $ 2.50 | $ 2.50 |
Common stock, shares authorized | 15,000,000 | 15,000,000 |
Common stock, shares issued | 8,906,052 | 8,426,873 |
Common stock, shares outstanding | 8,906,052 | 8,426,873 |
Series B Preferred Stock [Member] | ||
Shareholders' equity | ||
Preferred stock, par value | $ 2.50 | $ 2.50 |
Preferred stock, liquidation preference | $ 1,000 | $ 1,000 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest income | |||
Loans, including fees | $ 65,996 | $ 57,747 | $ 50,897 |
Investment securities: | |||
Taxable | 2,496 | 2,527 | 3,005 |
Tax-exempt | 1,231 | 1,582 | 1,665 |
Dividends | 313 | 232 | 332 |
Other | 379 | 142 | 103 |
Total interest income | 70,415 | 62,230 | 56,002 |
Interest expense | |||
Deposits | 8,138 | 6,667 | 6,295 |
Federal funds purchased and other short-term borrowings | 316 | 162 | 195 |
Long-term debt | 2,414 | 1,820 | 1,684 |
Total interest expense | 10,868 | 8,649 | 8,174 |
Net interest income | 59,547 | 53,581 | 47,828 |
Provision for loan losses | 4,175 | 3,000 | 3,500 |
Net interest income after provision for loan losses | 55,372 | 50,581 | 44,328 |
Noninterest income | |||
Trust and investment services fees | 2,889 | 2,541 | 2,411 |
Income from mutual fund, annuity and insurance sales | 821 | 870 | 810 |
Service charges on deposit accounts | 4,164 | 3,696 | 3,406 |
Income from bank owned life insurance | 1,028 | 861 | 694 |
Other income | 1,107 | 898 | 567 |
Net gain on sales of loans held for sale | 1,434 | 970 | 667 |
Net gain on sales of securities | 79 | 194 | 492 |
Total noninterest income | 11,522 | 10,030 | 9,047 |
Noninterest expense | |||
Personnel | 26,045 | 24,187 | 21,317 |
Occupancy of premises, net | 3,305 | 3,259 | 3,185 |
Furniture and equipment | 2,851 | 2,801 | 2,685 |
Postage, stationery and supplies | 765 | 676 | 683 |
Professional and legal | 823 | 732 | 896 |
Marketing | 1,572 | 1,518 | 1,286 |
FDIC insurance | 723 | 606 | 712 |
Debit card processing | 1,071 | 1,127 | 884 |
Charitable donations | 1,368 | 1,079 | 986 |
Telecommunications | 813 | 749 | 702 |
External data processing | 1,690 | 1,455 | 1,154 |
Merger related | 0 | 0 | 474 |
Foreclosed real estate including (recovery of) provision for losses | (21) | 157 | (422) |
Other | 3,981 | 3,277 | 2,885 |
Total noninterest expense | 44,986 | 41,623 | 37,427 |
Income before income taxes | 21,908 | 18,988 | 15,948 |
Provision for income taxes | 9,904 | 5,886 | 4,813 |
Net income | 12,004 | 13,102 | 11,135 |
Preferred stock dividends | 0 | 16 | 120 |
Net income available to common shareholders | $ 12,004 | $ 13,086 | $ 11,015 |
Net income per common share, basic | $ 1.35 | $ 1.49 | $ 1.60 |
Net income per common share, diluted | $ 1.34 | $ 1.48 | $ 1.59 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Consolidated Statements Of Comprehensive Income [Abstract] | ||||
Net income | $ 12,004 | $ 13,102 | $ 11,135 | |
Securities available for sale: | ||||
Net unrealized holding gains (losses) arising during the period (net of tax expense (benefit) of $181, ($1,218), and ($501), respectively) | 384 | (2,364) | (971) | |
Reclassification adjustment for (gains) included in net income (net of tax expense of $28, $66, and $167, respectively) (a) (b) | [1],[2] | (51) | (128) | (325) |
Net unrealized gains (losses) | 333 | (2,492) | (1,296) | |
Comprehensive income | $ 12,337 | $ 10,610 | $ 9,839 | |
[1] | Amounts are included in net gain on sales of securities on the Consolidated Statements of Income within noninterest income. | |||
[2] | Income tax amounts are included in provision for income taxes on the Consolidated Statements of Income. |
Consolidated Statements Of Com6
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Securities available for sale: | |||
Net unrealized holding (losses) gains arising during the period, tax (benefit) expense | $ 181 | $ (1,218) | $ (501) |
Reclassification adjustment for (gains) included in net income, tax expense | $ 28 | $ 66 | $ 167 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities | |||
Net income | $ 12,004 | $ 13,102 | $ 11,135 |
Adjustments to reconcile net income to net cash provided by operations: | |||
Depreciation/amortization | 2,357 | 2,343 | 2,266 |
Net amortization of premiums on securities | 667 | 912 | 1,042 |
Amortization of deferred loan origination fees and costs | (1,640) | (1,049) | (835) |
Provision for loan losses | 4,175 | 3,000 | 3,500 |
Recovery of foreclosed real estate | (47) | (31) | (622) |
Deferred income tax expense (benefit) | 3,287 | (1,021) | 32 |
Increase in bank owned life insurance | (1,028) | (861) | (694) |
Originations of mortgage loans held for sale | (39,687) | (42,260) | (31,821) |
Originations of SBA loans held for sale | (5,316) | (1,400) | 0 |
Proceeds from sales of mortgage loans held for sale | 40,203 | 42,191 | 32,388 |
Proceeds from sales of SBA loans held for sale | 5,416 | 1,117 | 0 |
Net gain on sales of loans held for sale | (1,434) | (970) | (667) |
(Gain) loss on disposal of premises and equipment | (9) | 4 | 105 |
Gain on sales of securities available-for-sale | (79) | (194) | (492) |
Net (gain) loss on sales of foreclosed real estate | (11) | (18) | 9 |
Stock-based compensation | 752 | 525 | 358 |
Increase in interest receivable | (520) | (445) | (301) |
(Increase) decrease in other assets | (1,593) | 1,203 | (160) |
Increase (decrease) in interest payable | 176 | (18) | (9) |
(Decrease) increase in other liabilities | (984) | 2,349 | (1,232) |
Net cash provided by operating activities | 16,689 | 18,479 | 14,002 |
Cash flows from investing activities | |||
Purchases of securities, available-for-sale | (13,546) | (47,665) | (57,136) |
Maturities, repayments and calls of securities, available-for-sale | 43,900 | 48,999 | 46,108 |
Sales of securities, available-for-sale | 5,692 | 12,903 | 9,614 |
Redemption (purchase) of restricted investment in bank stock | 615 | (1,898) | (1,229) |
Proceeds from acquisition, net | 0 | 0 | 21,091 |
Proceeds from acquired receivables of sold investment settlements | 0 | 0 | 15,256 |
Net increase in loans made to customers | (127,509) | (147,541) | (127,056) |
Purchases of premises and equipment | (2,157) | (2,314) | (5,957) |
Investment in bank owned life insurance | (4,007) | (6,994) | (7) |
Proceeds from sales of fixed assets | 0 | 0 | 51 |
Proceeds from bank owned life insurance | 0 | 196 | 0 |
Proceeds from sales of foreclosed real estate | 454 | 576 | 289 |
Net cash used in investing activities | (96,558) | (143,738) | (98,976) |
Cash flows from financing activities | |||
Net increase in demand and savings deposits | 100,994 | 140,938 | 87,651 |
Net increase (decrease) in time deposits | 19,336 | 29,090 | (69,020) |
Net (decrease) increase in short-term borrowings | (36,142) | (17,873) | 32,326 |
Proceeds from issuance of long-term debt | 20,000 | 40,000 | 35,000 |
Repayment of long-term debt | (15,000) | (35,000) | (5,096) |
Tax benefit on vested restricted stock | 0 | 0 | 13 |
Cash dividends paid to preferred shareholder | 0 | (46) | (120) |
Cash dividends paid to common shareholders | (4,559) | (4,144) | (2,991) |
Redemption of preferred stock | 0 | (12,000) | 0 |
Net issuance of common stock | 751 | 853 | 33,614 |
Cash paid in lieu of fractional shares | (19) | (12) | (12) |
Net cash provided by financing activities | 85,361 | 141,806 | 111,365 |
Net increase in cash and cash equivalents | 5,492 | 16,547 | 26,391 |
Cash and cash equivalents at beginning of year | 74,032 | 57,485 | 31,094 |
Cash and cash equivalents at end of period | $ 79,524 | $ 74,032 | $ 57,485 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Shareholders' Equity - USD ($) $ in Thousands | Public Offering [Member]Common Stock [Member] | Public Offering [Member]Additional Paid-In Capital [Member] | Public Offering [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2014 | $ 12,000 | $ 14,577 | $ 62,713 | $ 26,483 | $ 2,667 | $ 0 | $ 118,440 | |||
Net income | 11,135 | 11,135 | ||||||||
Other comprehensive income (loss), net of tax | (1,296) | (1,296) | ||||||||
Common stock cash dividends | (2,991) | (2,991) | ||||||||
5% Common stock dividend | 735 | 5,221 | (5,968) | (12) | ||||||
Preferred stock cash dividends | (120) | (120) | ||||||||
Stock-based compensation including related tax benefit | 371 | 371 | ||||||||
Forfeiture and withheld shares of restricted stock | 8 | (55) | (47) | |||||||
Issuance and reissuance of common stock: | ||||||||||
Issuance of common shares through public offering | $ 4,367 | $ 28,135 | $ 32,502 | |||||||
Issuance of common stock shares under the dividend reinvestment and stock purchase plan | 49 | 352 | 401 | |||||||
Issuance of common stock shares under the stock option plan | 108 | 515 | 7 | 630 | ||||||
Issuance of common stock shares of stock-based compensation awards | 40 | (67) | 27 | 0 | ||||||
Issuance of common stock shares under employee stock purchase plan | 17 | 90 | 21 | 128 | ||||||
Balance at Dec. 31, 2015 | 12,000 | 19,893 | 97,338 | 28,539 | 1,371 | 0 | 159,141 | |||
Net income | 13,102 | 13,102 | ||||||||
Other comprehensive income (loss), net of tax | (2,492) | (2,492) | ||||||||
Common stock cash dividends | (4,144) | (4,144) | ||||||||
5% Common stock dividend | 996 | 7,564 | (8,572) | (12) | ||||||
Preferred stock cash dividends | (16) | (16) | ||||||||
Redemption of preferred stock | (12,000) | (12,000) | ||||||||
Stock-based compensation including related tax benefit | 525 | 525 | ||||||||
Forfeiture and withheld shares of restricted stock | 8 | (111) | (103) | |||||||
Issuance and reissuance of common stock: | ||||||||||
Issuance of common stock shares under the dividend reinvestment and stock purchase plan | 45 | 374 | 6 | 425 | ||||||
Issuance of common stock shares under the stock option plan | 60 | 239 | 65 | 364 | ||||||
Issuance of common stock shares of stock-based compensation awards | 52 | (52) | 0 | |||||||
Issuance of common stock shares under employee stock purchase plan | 21 | 106 | 40 | 167 | ||||||
Balance at Dec. 31, 2016 | 0 | 21,067 | 106,102 | 28,909 | (1,121) | 0 | 154,957 | |||
Net income | 12,004 | 12,004 | ||||||||
Impact of change in enacted tax rate | 170 | (170) | 0 | |||||||
Other comprehensive income (loss), net of tax | 333 | 333 | ||||||||
Common stock cash dividends | (4,559) | (4,559) | ||||||||
5% Common stock dividend | 1,049 | 12,510 | (13,664) | 86 | (19) | |||||
Stock-based compensation | 752 | 752 | ||||||||
Forfeiture and withheld shares of restricted stock | 4 | (163) | (159) | |||||||
Issuance and reissuance of common stock: | ||||||||||
Issuance of common stock shares under the dividend reinvestment and stock purchase plan | 40 | 403 | 22 | 465 | ||||||
Issuance of common stock shares under the stock option plan | 28 | 153 | 14 | 195 | ||||||
Issuance of common stock shares of stock-based compensation awards | 61 | (61) | 0 | |||||||
Issuance of common stock shares under employee stock purchase plan | 20 | 189 | 41 | 250 | ||||||
Balance at Dec. 31, 2017 | $ 0 | $ 22,265 | $ 120,052 | $ 22,860 | $ (958) | $ 0 | $ 164,219 |
Consolidated Statements Of Cha9
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Common stock cash dividends, per share, adjusted | $ 0.516 | $ 0.472 | $ 0.44 |
Common stock dividend, rate | 5.00% | 5.00% | 5.00% |
Common stock dividend, shares at fair value | 422,439 | 398,541 | 294,161 |
Issuance and reissuance of common stock: | |||
Shares under the dividend reinvestment and stock purchase plan | 16,553 | 20,592 | 19,585 |
Shares under the stock option plan | 11,857 | 27,510 | 45,783 |
Shares under employee stock purchase plan | 10,732 | 9,897 | 7,716 |
Shares of stock-based compensation awards | 24,431 | 20,716 | 17,450 |
Public Offering [Member] | |||
Issuance and reissuance of common stock: | |||
New shares issued in public offering | 1,746,850 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | NOTE 1-Summary of Significant Accounting Policies Nature of Operations and Basis of Presentation Codorus Valley Bancorp, Inc. (“Corporation” or “Codorus Valley”) is a one-bank holding company headquartered in York, Pennsylvania that provides a full range of banking services through its subsidiary, PeoplesBank, A Codorus Valley Company (“PeoplesBank” or “Bank”). PeoplesBank operates three wholly-owned subsidiaries as of December 31, 2017. The subsidiaries consist of Codorus Valley Financial Advisors, Inc. d/b/a PeoplesWealth Advisors, which sells non-deposit investment products in Pennsylvania, SYC Settlement Services, Inc., which provides real estate settlement services, and Codorus Valley Financial Advisors, Inc. d/b/a PeoplesWealth Advisors, a subsidiary that sells non-deposit investment products in Maryland. In addition, PeoplesBank may periodically create nonbank subsidiaries for the purpose of temporarily holding foreclosed properties pending the liquidation of these properties. PeoplesBank operates under a state charter and is subject to regulation by the Pennsylvania Department of Banking and Securities, and the Federal Deposit Insurance Corporation. The Corporation is subject to regulation by the Federal Reserve Board and the Pennsylvania Department of Banking and Securities. The consolidated financial statements include the accounts of Codorus Valley and its wholly-owned bank subsidiary, PeoplesBank, and a wholly-owned nonbank subsidiary, SYC Realty Company, Inc. SYC Realty was inactive during the reportable period of 2017. The accounts of CVB Statutory Trust No. 1 and No. 2 are not included in the consolidated financial statements as discussed in Note 8 – Short-term Borrowings and Long-term Debt. All significant intercompany account balances and transactions have been eliminated in consolidation. The accounting and reporting policies of Codorus Valley and subsidiaries conform to accounting principles generally accepted in the United States of America and have been followed on a consistent basis. Investment Securities The classification of securities is determined at the time of acquisition and is reevaluated at each reporting date. Securities classified as available-for-sale are debt securities that the Corporation intends to hold for an indefinite period of time, but not necessarily to maturity. Any decision to sell a security classified as available-for-sale would be based on various factors, including significant movements in interest rates, changes in maturity mix of assets and liabilities, income or liquidity needs, regulatory considerations and other factors. Debt securities available-for-sale are carried at fair value, with unrealized gains and losses, net of taxes, reported as a component of accumulated other comprehensive income in shareholders' equity. Premiums and discounts are recognized in interest income using the interest method over the estimated life of the security. Realized gains and losses from the sale of available-for-sale securities are computed on the basis of specific identification of the adjusted cost of each security and are shown net as a separate line item in the statement of income. Declines in the fair value of available-for-sale securities below their cost that are deemed to be other-than-temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management must first assess whether (a) it has the intent to sell the security and (b) it is more likely than not that it will be required to sell the security prior to its anticipated recovery. These steps are done before assessing whether the cost basis of the investment will be recovered. The assessment of the probability of recovery would consider, among other things, the length of time and the extent to which the fair value has been less than cost and the financial condition and near-term prospects of the issuer. More information about investment securities is provided in Note 3 – Securities. Restricted Investment in Bank Stocks Restricted stock, which represents required investments in the common stock of correspondent banks, is carried at cost and, as of December 31, 2017 and 2016 consisted primarily of the common stock of the Federal Home Loan Bank of Pittsburgh (FHLBP) and, to a lesser degree, Atlantic Community Bancshares, Inc. (ACBI), the parent company of Atlantic Community Bankers Bank (ACBB). Under the FHLBP’s Capital Plan, PeoplesBank is required to maintain a minimum member stock investment, both as a condition of becoming and remaining a member and as a condition of obtaining borrowings from the FHLBP. The FHLBP uses a formula to determine the minimum stock investment, which is based on the volume of loans outstanding, unused borrowing capacity and other factors. The FHLBP paid dividends during the years ended December 31, 2017 and 2016 . The FHLBP restricts the repurchase of the excess capital stock of member banks. The amount of excess capital stock that can be repurchased from any member is currently the lesser of five percent of the member’s total capital stock outstanding or its excess capital stock outstanding. Management evaluates the restricted stock for impairment in accordance with FASB ASC Topic 942. Management’s determination of whether these investments are impaired is based on their assessment of the ultimate recoverability of their cost rather than by recognizing temporary declines in value. Using the FHLBP as an example, the determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as: (1) the significance of the decline in net assets of the FHLBP as compared to the capital stock amount for the FHLBP and the length of time this situation has persisted; (2) commitments by the FHLBP to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLBP; and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the FHLBP. Management believes no impairment charge was necessary related to the restricted stock during the periods ended December 31, 2017 and 2016 . Loans Held for Sale Loans held for sale are comprised of residential mortgage loans and the guaranteed portion of secondary-market qualified Small Business Administration loans. Loans held for sale are reported at the lower of cost or fair value, as determined by the aggregate commitments from investors or current investor yield requirements. The amount by which cost exceeds fair value, if any, is accounted for as a valuation allowance and is charged to expense in the period of the change. The Company generally sells the guaranteed portion of its SBA loans to a third party and retains the servicing, holding the nonguaranteed portion in its portfolio. Gains or losses recognized on the sale of mortgage loans and loans guaranteed by the Small Business Administration loans are recognized based on the difference between the selling price and the carrying value of the related loan and are recorded in noninterest income. Loans Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff, are stated at their outstanding unpaid principal balances less amounts charged off, net of an allowance for loan losses and any deferred fees or costs. Interest income is accrued on the unpaid principal balance. Generally, loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) over the contractual life of the loan. The loans receivable portfolio is segmented into commercial and consumer loans. Commercial loans consist of the following industry classes: builder & developer, commercial real estate investor, residential real estate investor, hotel/motel, wholesale & retail, agriculture, manufacturing and all other. Consumer loans consist of the following classes: residential mortgage, home equity and all other. For all classes of loans receivable, the accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan is currently performing. A loan may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for loan losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income, according to the Corporation’s judgment as to the collectability of principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, generally six months, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. Acquired Loans Acquired loans are initially recorded at their acquisition date fair values. The carryover of allowance for loan losses is prohibited as any credit losses in the loans are included in the determination of the fair value of the loans at the acquisition date. Fair values for acquired loans are based on a discounted cash flow methodology that involves assumptions and judgments as to credit risk, prepayment risk, liquidity risk, default rates, loss severity, payment speeds, collateral values and discount rate. For acquired loans that are not deemed impaired at acquisition, credit discounts representing principal losses expected over the life of the loan are a component of the initial fair value and amortized over the life of the asset. Subsequent to the acquisition date, the methods used to estimate the required allowance for loan losses on these loans is similar to originated loans. However, the Corporation records a provision for loan losses only when the required allowance for loan losses exceeds any remaining credit discount. The remaining differences between the acquisition date fair value and the unpaid principal balance at the date of acquisition are recorded in interest income over the life of the loan. Acquired loans that have evidence of deterioration in credit quality since origination and for which it is probable, at acquisition, that the Corporation will be unable to collect all contractually required payments are accounted for as impaired loans under ASC 310-30. The excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loans. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the non-accretable discount. The non-accretable discount represents estimated future credit losses expected to be incurred over the life of the loan. Subsequent decreases to the expected cash flows require the Corporation to evaluate the need for an allowance for loan losses on these loans. Subsequent improvements in expected cash flows result in the reversal of a corresponding amount of the non-accretable discount which the Corporation then reclassifies as an accretable discount that is recognized into interest income over the remaining life of the loans using the interest method. Allowance for Loan Losses The allowance for loan losses represents the Corporation’s estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans deemed to be uncollectable are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. While the Corporation attributes a portion of the allowance to individual loans and groups of loans that it evaluates and determines to be impaired, the allowance is available to cover all charge-offs that arise from the loan portfolio. The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. The Corporation performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Corporation’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The allowance consists of specific, general and unallocated components. The specific component relates to loans that are classified as impaired, generally substandard and nonaccrual loans. For loans that are classified as impaired, an allowance is established when the collateral value (or discounted cash flows or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class including commercial loans not considered impaired, as well as smaller balance homogeneous loans, such as residential real estate, home equity and other consumer loans. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these classes of loans, adjusted for qualitative (environmental) risk factors. Historical loss rates are based on a two year rolling average of net charge-offs. Qualitative risk factors that supplement historical losses in the evaluation of loan pools are shown below. Each factor is assigned a value to reflect improving, stable or declining conditions based on the Corporation’s best judgment using relevant information available at the time of the evaluation. · Changes in national and local economies and business conditions · Changes in the value of collateral for collateral dependent loans · Changes in the level of concentrations of credit · Changes in the volume and severity of classified and past due loans · Changes in the nature and volume of the portfolio · Changes in collection, charge-off, and recovery procedures · Changes in underwriting standards and loan terms · Changes in the quality of the loan review system · Changes in the experience/ability of lending management and key lending staff · Regulatory and legal regulations that could affect the level of credit losses · Other pertinent environmental factors The unallocated component is maintained to cover uncertainties that could affect the Corporation’s estimate of probable losses. For example, increasing credit risks and uncertainties, not yet reflected in current leading indicators, associated with prolonged low economic growth, or recessionary business conditions for certain industries or the broad economy, or the erosion of real estate values, represent risk factors, the occurrence of any or all of which can adversely affect a borrowers’ ability to service their loans. The unallocated component of the allowance also reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the loan portfolio, including the unpredictable timing and amounts of charge-offs and related historical loss averages, and specific-credit or broader portfolio future cash flow value and collateral valuation uncertainties which could negatively impact unimpaired portfolio loss factors. As disclosed in Note 4-Loans, the Corporation engages in commercial and consumer lending. Loans are made within the Corporation’s primary market area and surrounding areas, and include the purchase of whole loan or participation interests in loans from other financial institutions. Commercial loans, which pose the greatest risk of loss to the Corporation, whether originated or purchased, are generally secured by real estate. Within the broad commercial loan segment, the builder & developer and commercial real estate investor loan classes generally present a higher level of risk than other commercial loan classifications. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effect of general economic conditions on income producing properties, unstable real estate prices and the dependency upon successful construction and sale or operation of the real estate project. Within the consumer loan segment, junior (i.e., second) liens present a slightly higher risk to the Corporation because economic and housing market conditions can adversely affect the underlying value of the collateral and the ability of some borrowers to service their debt. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The Corporation determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Loans that are deemed impaired are evaluated for impairment loss based on the net realizable value of the collateral, as applicable. Loans that are not collateral dependent will rely on the present value of expected future cash flows discounted at the loan’s effective interest rate to determine impairment loss. Large groups of smaller balance homogeneous loans such as residential mortgage loans, home equity loans and other consumer loans are collectively evaluated for impairment, unless they are classified as impaired. An allowance for loan losses is established for an impaired commercial loan if its carrying value exceeds its estimated fair value. For commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals of the underlying collateral. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the most recent appraisal and the condition of the property. Appraisals are generally discounted to provide for selling costs and other factors to determine an estimate of the net realizable value of the property. For commercial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. In instances when specific consumer related loans become impaired, they may be partially or fully charged off, which obviates the need for a specific allowance. Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants borrowers experiencing financial difficulties concessions that it would not otherwise consider. Concessions granted under a troubled debt restructuring may involve an interest rate that is below the market rate given the associated credit risk of the loan or an extension of a loan’s stated maturity date. Loans classified as troubled debt restructurings are designated as impaired. Non-accrual troubled debt restructurings are restored to accrual status if principal and interest payments, under the modified terms, are current for a reasonable period of time, generally six consecutive months after modification and future payments are reasonably assured. Banking regulatory agencies, as an integral part of their examination process, periodically review the Corporation’s allowance for loan losses and may require the Corporation to recognize additions to the allowance based on their judgments about information available to them at the time of their examination, which may not be currently available to the Corporation. Based on a comprehensive analysis of the loan portfolio, the Corporation believes that the level of the allowance for loan losses at December 31, 2017 is adequate. Transfers of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Corporation, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Corporation does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Premises and Equipment Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation. Depreciation expense is calculated principally on the straight-line method over the assets’ estimated useful lives. Estimated useful lives are five to forty years for buildings and improvements, five to twenty years for furniture and equipment and two to seven years for computer equipment and software. Maintenance and repairs are charged to expense as incurred. The cost of significant improvements to existing assets is capitalized and amortized over the shorter of the asset’s useful life or related lease term. When facilities are retired or otherwise disposed of, the depreciated cost is removed from the asset accounts, and any gain or loss is reflected in the statement of income. Foreclosed Real Estate Foreclosed real estate, included in other assets, is comprised of property acquired through a foreclosure proceeding or property that is acquired through in substance foreclosure. Foreclosed real estate is initially recorded at fair value minus estimated costs to sell at the date of foreclosure, establishing a new cost basis. Any difference between the carrying value and the new cost basis is charged against the allowance for loan losses. Appraisals, obtained from an independent third party, are generally used to determine fair value. After foreclosure, management reviews valuations at least quarterly and adjusts the asset to the lower of cost or fair value minus estimated costs to sell through a valuation allowance or a charge-off. Costs related to the improvement of foreclosed real estate are generally capitalized until the real estate reaches a saleable condition subject to fair value limitations. Revenue and expense from operations and changes in the valuation allowance are included in noninterest expense. When a foreclosed real estate asset is ultimately sold, any gain or loss on the sale is included in the income statement as a component of noninterest expense. At December 31, 2017 , foreclosed real estate, net of allowance, was $216,000 , which included $96,000 of residential real estate, compared to $2,705,000 in foreclosed real estate, net of allowance, which included $201,000 of residential real estate, at December 31, 2016 . Included within loans receivable as of December 31, 2017, was a recorded investment of $262,000 of consumer mortgage loans secured by residential real estate properties, for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction. Bank Owned Life Insurance PeoplesBank invests in bank owned life insurance (BOLI) as a source of funding for employee benefit expenses. BOLI involves the purchasing of life insurance by PeoplesBank on a select group of employees and members of the board of directors. PeoplesBank is the owner and beneficiary of the policies. This life insurance investment is carried at the cash surrender value of the underlying policies and is included in other assets in the amount of $36,632,000 at December 31, 2017 , compared to $31,621,000 at December 31, 2016 . Mortgage Servicing Rights PeoplesBank retained servicing of sold mortgage loans beginning in 2016. The mortgage servicing rights (MSRs) associated with the sold loans are included in other assets on the consolidated balance sheets at an amount equal to the estimated fair value of the contractual rights to service the mortgage loans. The MSR asset is amortized as a reduction to servicing income. The MSR asset is evaluated periodically for impairment and carried at the lower of amortized cost or fair value. A third party calculates fair value by discounting the estimated cash flows from servicing income using a rate consistent with the risk associated with these assets and an expected life commensurate with the expected life of the underlying loans. In the event that the amortized cost of the MSR asset exceeds the fair value of the asset, a valuation allowance would be established through a charge against servicing income. Subsequent fair value evaluations may determine that impairment has been reduced or eliminated, in which case the valuation allowance would be reduced through a credit to earnings. At December 31, 2017, the balance of residential mortgage loans serviced for third parties was $70,780,000 compared to $36,969,000 at December 31, 2016. Years ended December 31, (dollars in thousands) 2017 2016 Amortized cost: Balance at beginning of year $ 324 $ 0 Originations of mortgage servicing rights 422 338 Amortization expense (74) (14) Balance at end of year $ 672 $ 324 Trust and Investment Services Assets Assets held by PeoplesBank in a fiduciary or agency capacity for its clients are not included in the consolidated balance sheets since these items are not assets of PeoplesBank. At December 31, 2017, the market value of assets was $711,161,000 compared to $562,865,000 at December 31, 2016. Advertising Advertising costs are charged to expense when incurred. Income Taxes Deferred income taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted through the provision for income taxes for the effects of changes in tax laws and rates on the effective date. The Corporation accounts for uncertain tax positions as required by FASB ASC Topic 740. FASB ASC Topic 740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. Specifically, the accounting standard prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return as well as guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. No significant income tax uncertainties have been identified by the Corporation; therefore, the Corporation recognized no adjustment for unrecognized income tax benefits for the years ended December 31, 2017 and 2016 The Corporation’s policy is to recognize interest and penalties on unrecognized tax benefits in income taxes expense in the Consolidated Statement of Income. The Corporation did no t recognize any interest and penalties for the years ended December 31, 2017 , 2016 and 2015 . The tax years subject to examination by the taxing authorities are the years ended December 31, 2016 , 2015 , and 2014 . Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the evaluation of other-than-temporary impairment losses for investment securities and the evaluation of impairment losses for foreclosed real estate. Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 16 – Fair Value Measurements and Fair Values of Financial Instruments. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect the estimates. Goodwill and Core Deposit Intangible Assets Goodwill arising from acquisitions is not amortized, but is subject to an annual impairment test. This test consists of a qualitative analysis. If the Corporation determines events or circumstances indicate that it is more likely than not that goodwill is impaired, a quantitative analysis must be completed. Analyses may also be performed between annual tests. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions, and selecting an appropriate control premium. The Corporation completes its annual goodwill impairment test on October 1 st of each year. Based upon the analysis, the Corporation concluded that the amount of recorded goodwill was not impaired as of October 1, 2017. Core deposit intangibles represent the value assigned to demand, interest checking, money market, and savings accounts acquired as part of an acquisition. The core deposit intangible value represents the future economic benefit of potential cost savings from acquiring core deposits as part of an acquisition compared to the cost of alternative funding sources and the alternative cost to grow a similar core deposit base. The core deposit intangible asset resulting from the merger with Madison Bancorp, Inc. was determined to have a definite life and is being amortized using the sum of the years’ digits method over ten years. All intangible assets must be evaluated for impairment if certain events or changes in circumstances occur. Any impairment write-downs would be recognized as expense on the consolidated statements of income. At December 31, 2017, the Corporation does not have any indicators of potential impairment of either goodwill or core deposit intangibles. Per Common Share Data Basic net income per common share is calculated as net income available to common shareholders divided by the weighted average number of common shares outstanding. Diluted net income per common share is calculated as net income available to common shareholders divided by the weighted average number of common shares outstanding plus common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Corporation relate solely t |
Restrictions On Cash And Due Fr
Restrictions On Cash And Due From Banks | 12 Months Ended |
Dec. 31, 2017 | |
Restricted Investment In Bank Stocks [Abstract] | |
Restrictions On Cash And Due From Banks | NOTE 2-Restrictions on Cash and Due from Banks PeoplesBank is required to maintain average reserves, in the form of cash and balances with the Federal Reserve Bank, against its deposit liabilities. In 2017 and 2016 , the reserves were met with vault cash. PeoplesBank is also required to maintain compensating balances with certain correspondent banks, which totaled $50,000 at December 31, 2017 and 2016 . |
Securities
Securities | 12 Months Ended |
Dec. 31, 2017 | |
Securities [Abstract] | |
Securities | NOTE 3-Securities A summary of securities, available-for-sale at December 31, 2017 and 2016 , is provided below. The securities available-for-sale portfolio is generally comprised of high quality debt instruments, such as obligations of the United States government or agencies thereof and investments in the obligations of states and municipalities. The majority of municipal bonds in the portfolio are general obligation bonds, which can draw upon multiple sources of revenue, including taxes, for payment. Only a few bonds are revenue bonds, which are dependent upon a single revenue stream for payment, but they are for critical services such as water and sewer. In many cases, municipal debt issues are insured or, in the case of school districts of selected states, backed by specific loss reserves. At December 31, 2017 , the fair value of the municipal bond portfolio was concentrated in the state of Pennsylvania at 82 percent. Amortized Gross Unrealized Fair (dollars in thousands) Cost Gains Losses Value December 31, 2017 Debt securities: U.S. Treasury notes $ 14,758 $ 0 $ (687) $ 14,071 U.S. agency 18,015 0 (712) 17,303 U.S. agency mortgage-backed, residential 75,204 327 (356) 75,175 State and municipal 51,827 304 (89) 52,042 Total debt securities $ 159,804 $ 631 $ (1,844) $ 158,591 December 31, 2016 Debt securities: U.S. Treasury notes $ 14,730 $ 0 $ (793) $ 13,937 U.S. agency 26,045 1 (960) 25,086 U.S. agency mortgage-backed, residential 91,242 804 (285) 91,761 State and municipal 64,421 272 (738) 63,955 Total debt securities $ 196,438 $ 1,077 $ (2,776) $ 194,739 The amortized cost and estimated fair value of debt securities at December 31, 2017 by contractual maturity are shown below. Actual maturities may differ from contractual maturities if call options on selected debt issues are exercised in the future. Mortgage-backed securities are included in the maturity categories based on average expected life. Available-for-sale Amortized Fair (dollars in thousands) Cost Value Due in one year or less $ 12,982 $ 13,006 Due after one year through five years 87,928 87,925 Due after five years through ten years 55,871 54,550 Due after ten years 3,023 3,110 Total debt securities $ 159,804 $ 158,591 Gross realized gains and losses on sales of securities, available-for-sale is shown below. Realized gains and losses are computed on the basis of specific identification of the adjusted cost of each security and are shown net as a separate line item in the income statement. Years ended December 31, (dollars in thousands) 2017 2016 2015 Realized gains $ 79 $ 194 $ 492 Realized losses 0 0 0 Net gains $ 79 $ 194 $ 492 Securities, issued by agencies of the federal government, with a carrying value of $105,603,000 and $160,357,000 on December 31, 2017 and December 31, 2016 , respectively, were pledged to secure public and trust deposits, repurchase agreements and other short-term borrowings. The table below shows gross unrealized losses and fair value, aggregated by investment category and length of time, for securities that have been in a continuous unrealized loss position, at December 31, 2017 and 2016 . Less than 12 months 12 months or more Total Number of Fair Unrealized Number of Fair Unrealized Number of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses December 31, 2017 Debt securities: U.S. Treasury notes 0 $ 0 $ 0 3 $ 14,071 $ (687) 3 $ 14,071 $ (687) U.S. agency 1 989 (12) 4 16,314 (700) 5 17,303 (712) U.S. agency mortgage-backed, residential 25 43,329 (261) 2 5,051 (95) 27 48,380 (356) State and municipal 27 12,171 (60) 5 3,277 (29) 32 15,448 (89) Total temporarily impaired debt securities, available-for-sale 53 $ 56,489 $ (333) 14 $ 38,713 $ (1,511) 67 $ 95,202 $ (1,844) December 31, 2016 Debt securities: U.S. Treasury notes 3 $ 13,937 $ (793) 0 $ 0 $ 0 3 $ 13,937 $ (793) U.S. agency 6 22,083 (960) 0 0 0 6 22,083 (960) U.S. agency mortgage-backed, residential 15 36,473 (285) 0 0 0 15 36,473 (285) State and municipal 83 40,092 (734) 1 501 (4) 84 40,593 (738) Total temporarily impaired debt securities, available-for-sale 107 $ 112,585 $ (2,772) 1 $ 501 $ (4) 108 $ 113,086 $ (2,776) Securities available-for-sale are analyzed quarterly for possible other-than-temporary impairment. The analysis considers, among other factors: 1) whether the Corporation has the intent to sell its securities prior to market recovery or maturity; 2) whether it is more likely than not that the Corporation will be required to sell its securities prior to market recovery or maturity; 3) default rates/history by security type; 4) third-party securities ratings; 5) third-party guarantees; 6) subordination; 7) payment delinquencies; 8) nature of the issuer; and 9) current financial news. The Corporation believes that any unrealized losses at December 31, 2017 were primarily the result of changes in market interest rates and that it has the ability to hold these investments for a time necessary to recover the amortized cost. Through December 31, 2017 , the Corporation has collected all interest and principal on its investment securities as scheduled. The Corporation believes that collection of the contractual principal and interest is probable and, therefore, all impairment is considered to be temporary. |
Loans
Loans | 12 Months Ended |
Dec. 31, 2017 | |
Loans [Abstract] | |
Loans | NOTE 4-Loans Loan Portfolio Composition The table below provides the composition of the loan portfolio at December 31, 2017 and 2016 . The portfolio is comprised of two segments, commercial and consumer loans. The commercial loan segment is disaggregated by industry class which allows the Corporation to monitor risk and performance. Those industries representing the largest dollar investment and most risk are listed separately. The “Other” commercial loans category is comprised of various industries. The consumer related segment is comprised of residential mortgages, home equity and other consumer loans. The Corporation has not engaged in sub-prime residential mortgage originations. December 31, % Total December 31, % Total (dollars in thousands) 2017 Loans 2016 Loans Builder & developer $ 184,402 13.2 $ 148,635 11.7 Commercial real estate investor 230,827 16.5 243,623 19.2 Residential real estate investor 209,414 15.0 183,623 14.4 Hotel/Motel 63,195 4.5 82,085 6.5 Wholesale & retail 103,040 7.3 88,062 6.9 Manufacturing 62,510 4.5 32,616 2.6 Agriculture 59,931 4.3 51,848 4.1 Other 284,511 20.3 242,872 19.1 Total commercial related loans 1,197,830 85.6 1,073,364 84.5 Residential mortgages 79,325 5.6 73,496 5.8 Home equity 97,950 7.0 94,222 7.4 Other 24,659 1.8 29,689 2.3 Total consumer related loans 201,934 14.4 197,407 15.5 Total loans $ 1,399,764 100.0 $ 1,270,771 100.0 Concentrations of Credit Risk Concentrations of credit risk arise when a number of clients are engaged in similar business activities in the same geographic region or have similar economic features that could cause their ability to meet contractual obligations to be similarly affected by changes in economic conditions. Most of the Corporation's business is with clients in York County, Pennsylvania and northern-central Maryland, specifically Baltimore, Harford and Carroll counties. Although this focus may pose a concentration risk geographically, the Corporation believes that the diverse local economy and our detailed knowledge of the client base lessens this risk. At December 31, 2017 , the Corporation had three industry concentrations that exceeded 10 percent of the total loan portfolio : commercial real estate investor, which represented 16.5 percent of the portfolio; residential real estate investor, which represented 15.0 percent of the portfolio; and builder & developer, which represented 13.2 percent of the portfolio. At December 31, 2016 , the Corporation had three industry concentrations that exceeded 10 percent of the total loan portfolio : commercial real estate investor, which represented 19.2 percent of the portfolio; residential real estate investor, which represented 14.4 percent of the portfolio; and builder & developer, which represented 11.7 percent of the portfolio. Loans to borrowers within these industries are usually collateralized by real estate. The principal balance of outstanding loans to directors, executive officers, principal shareholders and any affiliates of such persons was $ 8,580,000 at December 31, 2017 and $162,000 at December 31, 2016 . During 2017 , total additions were $ 9,360,000 and total repayments and reductions were $942,000 . As of year-end 2017 , all loans to this group were current and performing in accordance with contractual terms. Loan Risk Ratings The Corporation’s internal risk rating system follows regulatory guidance as to risk classifications and definitions. Every approved loan is assigned a risk rating. Generally, risk ratings for commercial related loans and residential mortgages held for investment are determined by a formal evaluation of risk factors performed by the Corporation’s underwriting staff. For consumer loans, and commercial loans up to $500,000 , the Corporation uses third-party credit scoring software models for risk rating purposes. The loan portfolio is monitored on a continuous basis by loan officers, loan review personnel and senior management. Adjustments of loan risk ratings are generally performed by the Special Asset Committee, which includes senior management. The Committee, which typically meets at least quarterly, makes changes, as appropriate, to risk ratings when it becomes aware of credit events such as payment delinquency, cessation of a business or project, bankruptcy or death of the borrower, or changes in collateral value. The Corporation uses ten risk ratings to grade commercial loans. The first seven ratings, representing the lowest risk, are combined and given a “pass” rating. A pass rating is a satisfactory credit rating, which applies to a loan that is expected to perform in accordance with the loan agreement and has a low probability of loss. A loan rated “special mention” has a potential weakness which may, if not corrected, weaken the loan or inadequately protect the Corporation’s position at some future date. A loan rated “substandard” is inadequately protected by the current net worth or paying capacity of the borrower, or of the collateral pledged. A “substandard” loan has a well-defined weakness or weaknesses that could jeopardize liquidation of the loan, which exposes the Corporation to loss if the deficiencies are not corrected. When circumstances indicate that collection of the loan is doubtful, the loan is risk-rated “nonaccrual,” the accrual of interest income is discontinued, and any unpaid interest previously credited to income is reversed. The table below does not include the regulatory classification of “doubtful,” nor does it include the regulatory classification of “loss”, because the Corporation promptly charges off loan losses. The table below presents a summary of loan risk ratings by loan class at December 31, 2017 and 2016 . Special (dollars in thousands) Pass Mention Substandard Nonaccrual Total December 31, 2017 Builder & developer $ 179,897 $ 1,832 $ 581 $ 2,092 $ 184,402 Commercial real estate investor 224,822 360 4,339 1,306 230,827 Residential real estate investor 204,139 4,065 711 499 209,414 Hotel/Motel 63,195 0 0 0 63,195 Wholesale & retail 95,128 254 7,658 0 103,040 Manufacturing 58,082 588 3,840 0 62,510 Agriculture 57,140 2,476 0 315 59,931 Other 283,086 507 918 0 284,511 Total commercial related loans 1,165,489 10,082 18,047 4,212 1,197,830 Residential mortgage 79,068 10 85 162 79,325 Home equity 97,498 0 0 452 97,950 Other 24,394 30 9 226 24,659 Total consumer related loans 200,960 40 94 840 201,934 Total loans $ 1,366,449 $ 10,122 $ 18,141 $ 5,052 $ 1,399,764 December 31, 2016 Builder & developer $ 138,653 $ 6,090 $ 3,508 $ 384 $ 148,635 Commercial real estate investor 236,240 1,490 5,893 0 243,623 Residential real estate investor 177,763 4,157 866 837 183,623 Hotel/Motel 81,724 0 0 361 82,085 Wholesale & retail 79,884 8,178 0 0 88,062 Manufacturing 27,564 4,439 613 0 32,616 Agriculture 50,123 796 0 929 51,848 Other 235,515 6,213 885 259 242,872 Total commercial related loans 1,027,466 31,363 11,765 2,770 1,073,364 Residential mortgage 73,340 14 85 57 73,496 Home equity 93,908 70 0 244 94,222 Other 29,420 97 129 43 29,689 Total consumer related loans 196,668 181 214 344 197,407 Total loans $ 1,224,134 $ 31,544 $ 11,979 $ 3,114 $ 1,270,771 Impaired Loans The table below presents a summary of impaired loans at December 31, 2017 and 2016 . Generally, impaired loans are certain loans risk rated substandard and all loans risk rated nonaccrual or classified as troubled debt restructurings. An allowance is established for those individual loans that are commercial related where the Corporation has doubt as to full recovery of the outstanding principal balance. Typically, impaired consumer related loans are partially or fully charged-off eliminating the need for a specific allowance. The recorded investment represents outstanding unpaid principal loan balances adjusted for charge-offs. With No Allowance With A Related Allowance Total Recorded Unpaid Recorded Unpaid Related Recorded Unpaid (dollars in thousands) Investment Principal Investment Principal Allowance Investment Principal December 31, 2017 Builder & developer $ 2,673 $ 3,008 $ 0 $ 0 $ 0 $ 2,673 $ 3,008 Commercial real estate investor 4,585 4,601 1,060 1,060 243 5,645 5,661 Residential real estate investor 1,210 1,510 0 0 0 1,210 1,510 Hotel/Motel 0 0 0 0 0 0 0 Wholesale & retail 7,912 7,912 0 0 0 7,912 7,912 Manufacturing 3,840 3,840 0 0 0 3,840 3,840 Agriculture 315 315 0 0 0 315 315 Other commercial 918 918 0 0 0 918 918 Total impaired commercial related loans 21,453 22,104 1,060 1,060 243 22,513 23,164 Residential mortgage 247 276 0 0 0 247 276 Home equity 452 452 0 0 0 452 452 Other consumer 235 235 0 0 0 235 235 Total impaired consumer related loans 934 963 0 0 0 934 963 Total impaired loans $ 22,387 $ 23,067 $ 1,060 $ 1,060 $ 243 $ 23,447 $ 24,127 December 31, 2016 Builder & developer $ 3,508 $ 3,644 $ 384 $ 384 $ 200 $ 3,892 $ 4,028 Commercial real estate investor 5,893 5,908 0 0 0 5,893 5,908 Residential real estate investor 1,404 1,404 299 299 136 1,703 1,703 Hotel/Motel 361 361 0 0 0 361 361 Wholesale & retail 260 260 0 0 0 260 260 Manufacturing 613 613 0 0 0 613 613 Agriculture 568 568 361 361 263 929 929 Other commercial 961 961 183 298 82 1,144 1,259 Total impaired commercial related loans 13,568 13,719 1,227 1,342 681 14,795 15,061 Residential mortgage 142 222 0 0 0 142 222 Home equity 244 244 0 0 0 244 244 Other consumer 172 172 0 0 0 172 172 Total impaired consumer related loans 558 638 0 0 0 558 638 Total impaired loans $ 14,126 $ 14,357 $ 1,227 $ 1,342 $ 681 $ 15,353 $ 15,699 The table below presents a summary of average impaired loans and related interest income that was included in net income for the years ended December 31, 2017 , 2016 and 2015 . With No Related Allowance With A Related Allowance Total Average Total Cash Basis Average Total Cash Basis Average Total Cash Basis Recorded Interest Interest Recorded Interest Interest Recorded Interest Interest (dollars in thousands) Investment Income Income Investment Income Income Investment Income Income December 31, 2017 Builder & developer $ 3,528 $ 140 $ 0 $ 1,088 $ 0 $ 0 $ 4,616 $ 140 $ 0 Commercial real estate investor 5,142 248 20 432 0 0 5,574 248 20 Residential real estate investor 1,371 52 13 303 0 0 1,674 52 13 Hotel/Motel 72 0 0 7 0 0 79 0 0 Wholesale & retail 5,741 260 0 0 0 0 5,741 260 0 Manufacturing 2,713 214 0 730 0 0 3,443 214 0 Agriculture 242 0 0 210 0 0 452 0 0 Other commercial 1,052 55 0 110 0 0 1,162 55 0 Total impaired commercial related loans 19,861 969 33 2,880 0 0 22,741 969 33 Residential mortgage 134 1 0 0 0 0 134 1 0 Home equity 368 17 17 0 0 0 368 17 17 Other consumer 258 8 7 0 0 0 258 8 7 Total impaired consumer related loans 760 26 24 0 0 0 760 26 24 Total impaired loans $ 20,621 $ 995 $ 57 $ 2,880 $ 0 $ 0 $ 23,501 $ 995 $ 57 December 31, 2016 Builder & developer $ 3,835 $ 230 $ 0 $ 153 $ 0 $ 0 $ 3,988 $ 230 $ 0 Commercial real estate investor 5,880 301 0 0 0 0 5,880 301 0 Residential real estate investor 937 29 2 489 0 0 1,426 29 2 Hotel/Motel 386 2 2 0 0 0 386 2 2 Wholesale & retail 280 11 0 0 0 0 280 11 0 Manufacturing 622 39 0 0 0 0 622 39 0 Agriculture 368 26 26 385 0 0 753 26 26 Other commercial 1,258 76 20 110 0 0 1,368 76 20 Total impaired commercial related loans 13,566 714 50 1,137 0 0 14,703 714 50 Residential mortgage 225 2 1 0 0 0 225 2 1 Home equity 285 2 2 0 0 0 285 2 2 Other consumer 216 11 4 0 0 0 216 11 4 Total impaired consumer related loans 726 15 7 0 0 0 726 15 7 Total impaired loans $ 14,292 $ 729 $ 57 $ 1,137 $ 0 $ 0 $ 15,429 $ 729 $ 57 December 31, 2015 Builder & developer $ 4,086 $ 275 $ 33 $ 1,396 $ 0 $ 0 $ 5,482 $ 275 $ 33 Commercial real estate investor 4,959 644 416 1,193 0 0 6,152 644 416 Residential real estate investor 871 24 1 882 27 0 1,753 51 1 Hotel/Motel 478 14 14 0 0 0 478 14 14 Wholesale & retail 373 18 2 0 0 0 373 18 2 Manufacturing 642 40 0 0 0 0 642 40 0 Agriculture 0 0 0 424 13 13 424 13 13 Other commercial 1,651 95 31 95 0 0 1,746 95 31 Total impaired commercial related loans 13,060 1,110 497 3,990 40 13 17,050 1,150 510 Residential mortgage 166 4 0 0 0 0 166 4 0 Home equity 159 2 2 0 0 0 159 2 2 Other consumer 343 22 13 0 0 0 343 22 13 Total impaired consumer related loans 668 28 15 0 0 0 668 28 15 Total impaired loans $ 13,728 $ 1,138 $ 512 $ 3,990 $ 40 $ 13 $ 17,718 $ 1,178 $ 525 Past Due and Nonaccrual The performance and credit quality of the loan portfolio is also monitored by using an aging schedule which shows the length of time a loan is past due. The table below presents a summary of past due loans, nonaccrual loans and current loans by loan segment and class at December 31, 2017 and 2016 . ≥ 90 Days 30-59 60-89 Past Due Total Past Days Days and Due and Total (dollars in thousands) Past Due Past Due Accruing Nonaccrual Nonaccrual Current Loans December 31, 2017 Builder & developer $ 615 $ 26 $ 0 $ 2,092 $ 2,733 $ 181,669 $ 184,402 Commercial real estate investor 0 0 0 1,306 1,306 229,521 230,827 Residential real estate investor 347 0 0 499 846 208,568 209,414 Hotel/Motel 0 0 0 0 0 63,195 63,195 Wholesale & retail 0 0 0 0 0 103,040 103,040 Manufacturing 0 0 0 0 0 62,510 62,510 Agriculture 0 137 0 315 452 59,479 59,931 Other 203 117 0 0 320 284,191 284,511 Total commercial related loans 1,165 280 0 4,212 5,657 1,192,173 1,197,830 Residential mortgage 392 72 67 162 693 78,632 79,325 Home equity 264 5 0 452 721 97,229 97,950 Other 123 5 9 226 363 24,296 24,659 Total consumer related loans 779 82 76 840 1,777 200,157 201,934 Total loans $ 1,944 $ 362 $ 76 $ 5,052 $ 7,434 $ 1,392,330 $ 1,399,764 December 31, 2016 Builder & developer $ 1,456 $ 0 $ 0 $ 384 $ 1,840 $ 146,795 $ 148,635 Commercial real estate investor 392 209 0 0 601 243,022 243,623 Residential real estate investor 171 0 0 837 1,008 182,615 183,623 Hotel/Motel 0 0 0 361 361 81,724 82,085 Wholesale & retail 0 0 0 0 0 88,062 88,062 Manufacturing 0 0 0 0 0 32,616 32,616 Agriculture 0 0 0 929 929 50,919 51,848 Other 238 102 498 259 1,097 241,775 242,872 Total commercial related loans 2,257 311 498 2,770 5,836 1,067,528 1,073,364 Residential mortgage 55 0 68 57 180 73,316 73,496 Home equity 203 176 0 244 623 93,599 94,222 Other 131 127 167 43 468 29,221 29,689 Total consumer related loans 389 303 235 344 1,271 196,136 197,407 Total loans $ 2,646 $ 614 $ 733 $ 3,114 $ 7,107 $ 1,263,664 $ 1,270,771 Troubled Debt Restructurings Loans classified as troubled debt restructurings (TDRs) are designated impaired and arise when the Corporation grants borrowers experiencing financial difficulties concessions that it would not otherwise consider. Concessions granted with respect to these loans involve an extension of the maturity date or a below market interest rate relative to new debt with similar credit risk. Generally, these loans are secured by real estate. If repayment of the loan is determined to be collateral dependent, the loan is evaluated for impairment loss based on the fair value of the collateral. For loans that are not collateral dependent, the present value of expected future cash flows, discounted at the loan’s original effective interest rate, is used to determine any impairment loss. A nonaccrual TDR represents a nonaccrual loan, as previously defined, which includes an economic concession. Nonaccrual TDRs are restored to accrual status if principal and interest payments, under the modified terms, are current for six consecutive payments after the modification and future principal and interest payments are reasonably assured. In contrast, an accruing TDR represents a loan that, at the time of the modification, has a demonstrated history of payments and with respect to which management believes that future loan payments are reasonably assured under the modified terms. There were no loans whose terms have been modified under TDRs during the years ended December 31, 2017 and 2016. There were no defaults during the year ended December 31, 2017 for TDRs entered into during the previous 12 month period. |
Allowance For Loan Losses
Allowance For Loan Losses | 12 Months Ended |
Dec. 31, 2017 | |
Allowance For Loan Losses [Abstract] | |
Allowance For Loan Losses | NOTE 5-Allowance for Loan Losses The table below shows the activity in and the composition of the allowance for loan losses by loan segment and class detail as of and for the years ended December 31, 2017 , 2016 and 2015 . Allowance for Loan Losses January 1, 2017 December 31, 2017 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,384 $ (1,674) $ 32 $ 2,646 $ 3,388 Commercial real estate investor 2,870 0 0 143 3,013 Residential real estate investor 2,517 (518) 62 444 2,505 Hotel/Motel 807 (36) 36 (170) 637 Wholesale & retail 803 0 1 105 909 Manufacturing 307 0 0 285 592 Agriculture 619 0 0 (188) 431 Other commercial 2,467 (104) 0 280 2,643 Total commercial related loans 12,774 (2,332) 131 3,545 14,118 Residential mortgage 85 0 5 18 108 Home equity 179 (223) 0 261 217 Other consumer 193 (82) 23 (68) 66 Total consumer related loans 457 (305) 28 211 391 Unallocated 1,761 0 0 419 2,180 Total $ 14,992 $ (2,637) $ 159 $ 4,175 $ 16,689 Allowance for Loan Losses January 1, 2016 December 31, 2016 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 1,934 $ (85) $ 3 $ 532 $ 2,384 Commercial real estate investor 2,337 0 0 533 2,870 Residential real estate investor 2,101 (487) 187 716 2,517 Hotel/Motel 837 0 0 (30) 807 Wholesale & retail 701 0 3 99 803 Manufacturing 223 (140) 0 224 307 Agriculture 548 0 0 71 619 Other commercial 2,054 (59) 0 472 2,467 Total commercial related loans 10,735 (771) 193 2,617 12,774 Residential mortgage 67 (79) 1 96 85 Home equity 161 0 0 18 179 Other consumer 261 (116) 60 (12) 193 Total consumer related loans 489 (195) 61 102 457 Unallocated 1,480 0 0 281 1,761 Total $ 12,704 $ (966) $ 254 $ 3,000 $ 14,992 Allowance for Loan Losses January 1, 2015 December 31, 2015 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,236 $ (497) $ 0 $ 195 $ 1,934 Commercial real estate investor 2,204 0 0 133 2,337 Residential real estate investor 1,484 (709) 2 1,324 2,101 Hotel/Motel 671 0 0 166 837 Wholesale & retail 691 0 19 (9) 701 Manufacturing 201 0 0 22 223 Agriculture 329 0 0 219 548 Other commercial 1,554 (442) 0 942 2,054 Total commercial related loans 9,370 (1,648) 21 2,992 10,735 Residential mortgage 64 (40) 21 22 67 Home equity 176 (40) 0 25 161 Other consumer 216 (297) 25 317 261 Total consumer related loans 456 (377) 46 364 489 Unallocated 1,336 0 0 144 1,480 Total $ 11,162 $ (2,025) $ 67 $ 3,500 $ 12,704 The table below shows the allowance amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment at December 31, 2017 , 2016 and 2015 along with the related loan balances for those years. Allowance for Loan Losses Loans Individually Collectively Individually Collectively Evaluated For Evaluated For Evaluated For Evaluated For (dollars in thousands) Impairment Impairment Balance Impairment Impairment Balance December 31, 2017 Builder & developer $ 0 $ 3,388 $ 3,388 $ 2,673 $ 181,729 $ 184,402 Commercial real estate investor 243 2,770 3,013 5,645 225,182 230,827 Residential real estate investor 0 2,505 2,505 1,210 208,204 209,414 Hotel/Motel 0 637 637 0 63,195 63,195 Wholesale & retail 0 909 909 7,912 95,128 103,040 Manufacturing 0 592 592 3,840 58,670 62,510 Agriculture 0 431 431 315 59,616 59,931 Other commercial 0 2,643 2,643 918 283,593 284,511 Total commercial related 243 13,875 14,118 22,513 1,175,317 1,197,830 Residential mortgage 0 108 108 247 79,078 79,325 Home equity 0 217 217 452 97,498 97,950 Other consumer 0 66 66 235 24,424 24,659 Total consumer related 0 391 391 934 201,000 201,934 Unallocated 0 2,180 2,180 - - - Total $ 243 $ 16,446 $ 16,689 $ 23,447 $ 1,376,317 $ 1,399,764 December 31, 2016 Builder & developer $ 200 $ 2,184 $ 2,384 $ 3,892 $ 144,743 $ 148,635 Commercial real estate investor 0 2,870 2,870 5,893 237,730 243,623 Residential real estate investor 136 2,381 2,517 1,703 181,920 183,623 Hotel/Motel 0 807 807 361 81,724 82,085 Wholesale & retail 0 803 803 260 87,802 88,062 Manufacturing 0 307 307 613 32,003 32,616 Agriculture 263 356 619 929 50,919 51,848 Other commercial 82 2,385 2,467 1,144 241,728 242,872 Total commercial related 681 12,093 12,774 14,795 1,058,569 1,073,364 Residential mortgage 0 85 85 142 73,354 73,496 Home equity 0 179 179 244 93,978 94,222 Other consumer 0 193 193 172 29,517 29,689 Total consumer related 0 457 457 558 196,849 197,407 Unallocated 0 1,761 1,761 - - - Total $ 681 $ 14,311 $ 14,992 $ 15,353 $ 1,255,418 $ 1,270,771 December 31, 2015 Builder & developer $ 0 $ 1,934 $ 1,934 $ 4,284 $ 129,694 $ 133,978 Commercial real estate investor 0 2,337 2,337 5,977 186,017 191,994 Residential real estate investor 142 1,959 2,101 1,471 159,673 161,144 Hotel/Motel 0 837 837 420 83,751 84,171 Wholesale & retail 0 701 701 309 77,385 77,694 Manufacturing 0 223 223 630 29,695 30,325 Agriculture 263 285 548 422 40,795 41,217 Other commercial 0 2,054 2,054 1,789 214,102 215,891 Total commercial related 405 10,330 10,735 15,302 921,112 936,414 Residential mortgage 0 67 67 164 69,930 70,094 Home equity 0 161 161 202 86,206 86,408 Other consumer 0 261 261 247 30,048 30,295 Total consumer related 0 489 489 613 186,184 186,797 Unallocated 0 1,480 1,480 - - - Total $ 405 $ 12,299 $ 12,704 $ 15,915 $ 1,107,296 $ 1,123,211 |
Premises And Equipment
Premises And Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Premises And Equipment [Abstract] | |
Premises And Equipment | NOTE 6-Premises and Equipment The following table presents a summary of premises and equipment as of December 31, 2017 and 2016 . (dollars in thousands) 2017 2016 Land $ 4,543 $ 4,521 Buildings and improvements 25,371 24,560 Equipment 20,057 18,796 49,971 47,877 Less accumulated depreciation/amortization (25,589) (23,304) Premises and equipment, net $ 24,382 $ 24,573 PeoplesBank leases certain banking branches under noncancellable operating leases. The terms include various renewal options and provide for rental increases based upon predetermined factors. Total lease expenses under operating leases amounted to $796,000 in 2017, $762,000 in 2016, and $788,000 in 201 5. At December 31, 2017 , future minimum lease payments for these leases are payable as follows: Operating (dollars in thousands) Leases 2018 $ 763 2019 610 2020 388 2021 255 2022 134 Thereafter 183 Total future minimum lease payments $ 2,333 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Deposits | |
Deposits | NOTE 7-Deposits The composition of deposits as of December 31, 2017 and 2016 is shown below. December 31, (dollars in thousands) 2017 2016 Noninterest bearing demand $ 246,866 $ 202,639 Interest Bearing Demand 157,903 130,394 Money market 447,425 425,874 Savings 86,292 78,585 Time deposits less than $100,000 260,482 242,778 Time deposits $100,000 to $250,000 135,242 134,811 Time deposits $250,000 or more 50,297 49,096 Total deposits $ 1,384,507 $ 1,264,177 The deposits from members of the board of directors, executive officers, principal shareholders and any affiliates of such persons were $4,319,000 at December 31, 2017 and $1,440,000 at December 31, 2016. The following table presents scheduled maturities of time deposits by year as of December 31, 2017 . (dollars in thousands) 2017 2018 $ 190,146 2019 118,117 2020 65,335 2021 49,204 2022 22,544 Thereafter 675 Total time deposits $ 446,021 |
Short-Term Borrowings And Long-
Short-Term Borrowings And Long-Term Debt | 12 Months Ended |
Dec. 31, 2017 | |
Short-Term Borrowings And Long-Term Debt [Abstract] | |
Short-Term Borrowings And Long-Term Debt | NOTE 8-Short-term Borrowings and Long-term Debt The schedule below provides a summary of short-term borrowings that consist of securities sold under agreements to repurchase, federal funds purchased and other borrowings. Securities sold under agreements to repurchase are overnight borrowings between PeoplesBank and its commercial depositors and are subject to daily repricing. Federal Funds purchased from correspondent banks mature in one business day and reprice daily based on the Federal Funds rate. As of December 31, 2017 , PeoplesBank’s total availability under Federal Funds lines was $13,000 , 000 . Other short-term borrowings consist of credit available through the Federal Home Loan Bank of Pittsburgh (FHLBP) and the Federal Reserve Discount Window. PeoplesBank maintains a line-of credit (Open Repo Plus) with the FHLBP which is a revolving term commitment used on an overnight basis. The term of this commitment may not exceed 364 days and it reprices daily at market rates. Under terms of a blanket collateral agreement with the FHLBP, the line-of-credit and long term advances are secured by FHLBP stock and qualifying real estate secured loans. As of December 31, 2017 , PeoplesBank’s total availability was $346,889 ,150 with the FHLBP. The Corporation maintains a $3,000,000 line of credit with ACNB Bank to provide a source of liquidity. The line, renewable annually, is secured by a first lien on the Codorus Valley Corporate Center. The interest rate on the ACNB Bank line is Wall Street Journal Prime. No draws have been made on the line and on December 31, 2017 and 2016 , the balance was zero . The following table presents a summary of aggregate short-term borrowings as of and for the years ended December 31, 2017 , 2016 and 2015 . 2017 2016 2015 Other Other Other Repurchase Short-term Repurchase Short-term Repurchase Short-term (dollars in thousands) agreements borrowings agreements borrowings agreements borrowings Amount outstanding at end of year $ 10,295 $ 10,200 $ 23,637 $ 33,000 $ 74,510 $ 0 Weighted average interest rate at end of year 0.56 % 1.55 % 0.47 % 0.94 % 0.48 % 0 % Maximum amount outstanding at any month-end $ 28,596 $ 30,000 $ 36,231 $ 33,000 $ 74,510 $ 9,459 Daily average amount outstanding $ 22,078 $ 16,910 $ 27,677 $ 3,452 $ 39,449 $ 200 Approximate weighted average interest rate for the year 0.56 % 1.14 % 0.50 % 0.66 % 0.49 % 0.33 % Securities that serve as collateral for securities sold under agreements to repurchase and pledged to provide access to the Federal Reserve Bank Discount Window and other short-term borrowing remain in available-for-sale securities. The fair value of these securities was $16,542,000 and $33,795,000 on December 31, 2017 and 2016 , respectively. The following table presents a summary of long-term debt as of December 31, 2017 and 2016 : December 31, (dollars in thousands) 2017 2016 PeoplesBank’s obligations: FHLBP Due April 2017 , 0.97% 0 10,000 Due November 2017 , 1.19% 0 5,000 Due March 2018 , 1.17% 10,000 10,000 Due June 2018 , 1.87% 5,000 5,000 Due June 2018 , 1.41% 10,000 10,000 Due November 2018 , 1.62% 5,000 5,000 Due December 2018 , 1.60% 15,000 15,000 Due April 2019 , 1.64% 10,000 0 Due June 2019 , 1.64% 5,000 5,000 Due June 2019 , 2.10% 5,000 5,000 Due December 2019 , 1.89% 15,000 15,000 Due March 2020 , 1.86% 10,000 0 Due June 2020 , 1.87% 15,000 15,000 Due June 2021 , 2.14% 15,000 15,000 Total FHLBP 120,000 115,000 Codorus Valley Bancorp, Inc. obligations: Junior subordinated debt Due 2034 , 3.61% , floating rate based on 3 month LIBOR plus 2.02% , callable quarterly 3,093 3,093 Due 2036 , 2.90% floating rate based on 3 month LIBOR plus 1.54% , callable quarterly 7,217 7,217 Total long-term debt $ 130,310 $ 125,310 PeoplesBank’s long-term debt obligations to FHLBP are fixed rate instruments. At December 31, 2017, municipal deposit letters of credit issued by the FHLBP on behalf of PeoplesBank naming applicable municipalities as beneficiaries were $42,000,000 compared to none at December 31, 2016. The letters of credit took the place of securities pledged to the municipalities for their deposits maintained at PeoplesBank. In June 2006, Codorus Valley formed CVB Statutory Trust No. 2, a wholly-owned special purpose subsidiary whose sole purpose was to facilitate a pooled trust preferred debt issuance of $7,217,000 . In November 2004, Codorus Valley formed CVB Statutory Trust No. 1 to facilitate a pooled trust preferred debt issuance of $3,093,000 . The Corporation owns all of the common stock of these nonbank subsidiaries, and the debentures are the sole assets of the Trusts. The accounts of both Trusts are not consolidated for financial reporting purposes in accordance with FASB ASC 810. For regulatory capital purposes, all of the Corporation’s trust preferred securities qualified as Tier 1 capital for all reported periods. Trust preferred securities are subject to capital limitations under the FDIC’s risk-based capital guidelines. The Corporation used the net proceeds from these offerings to fund its operations. The following table presents long-term debt maturities by year as of December 31, 2017. (dollars in thousands) 2017 2018 $ 45,000 2019 35,000 2020 25,000 2021 15,000 Thereafter 10,310 Total long-term debt $ 130,310 |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2017 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | NOTE 9-Regulatory Matters The Corporation is subject to restrictions on the payment of dividends to its shareholders pursuant to the Pennsylvania Business Corporation Law of 1988, as amended (“BCL”). The BCL prohibits dividend payments if such payment would render the Corporation insolvent or result in negative net worth. Federal and state banking regulations place certain restrictions on dividends paid and loans or advances made by PeoplesBank to the Corporation. The amount of total dividends, which may be paid at any date, is generally limited to the retained earnings of PeoplesBank. Furthermore, dividend payments would be prohibited if the effect thereof would cause PeoplesBank’s capital to be reduced below applicable minimum capital requirements as discussed below. Loans and advances by PeoplesBank to affiliates, including the Corporation, are limited to 10 percent of PeoplesBank’s capital stock and contributed capital on a secured basis. The Corporation and PeoplesBank are subject to various regulatory capital requirements. Failure to meet minimum capital requirements can result in certain mandatory and possible additional discretionary actions by regulators that, if imposed, could have a material effect on the Corporation’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation and PeoplesBank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators. On July 2, 2013, the Board of Governors of the Federal Reserve System finalized its rule implementing the Basel III regulatory capital framework, which the FDIC adopted on July 9, 2013. Under the rule, minimum requirements increased both the quantity and quality of capital held by banking organizations. Consistent with the Basel III framework, the rule included a new minimum ratio of common equity Tier 1 capital to risk-weighted assets of 4.5 percent, and a common equity Tier 1 conservation buffer of 2.5 percent of risk-weighted assets, that applies to all supervised financial institutions, which is to be phased in over a four year period beginning January 1, 2016, with the full 2.5 percent required as of January 1, 2019. The rule also raised the minimum ratio of Tier 1 capital to risk-weighted assets from 4 percent to 6 percent, and includes a minimum leverage ratio of 4 percent for all banking organizations. The new rule also increased the risk weights for past-due loans, certain commercial real estate loans, and some equity exposures, and makes selected other changes in risk weights and credit conversion factors. The rule for smaller, less complex institutions, including the Corporation, took effect January 1, 2015. Quantitative measures established by regulators to ensure capital adequacy require the Corporation and PeoplesBank to maintain minimum ratios, as set forth below, to total and Tier 1 capital as a percentage of risk-weighted assets, and of Tier 1 capital to quarter-to-date average assets (leverage ratio). In December 2017 , PeoplesBank received the most recent notification from the Federal Deposit Insurance Corporation, which categorized PeoplesBank as “well capitalized”, as of September 30, 2017 , under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes would change PeoplesBank’s well capitalized category. As of December 31, 2016 , PeoplesBank was also categorized as “well capitalized”. Minimum for Well Capitalized Actual Capital Adequacy (1) Minimum (2) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Codorus Valley Bancorp, Inc. (consolidated ) at December 31, 2017 Capital ratios: Common Equity Tier 1 $ 162,860 11.58 % $ 80,842 5.750 % $ n/a n/a % Tier 1 risk based 172,860 12.29 101,932 7.250 n/a n/a Total risk based 189,549 13.48 130,051 9.250 n/a n/a Leverage 172,860 10.26 67,382 4.00 n/a n/a at December 31, 2016 Capital ratios: Common Equity Tier 1 $ 153,762 11.88 % $ 66,320 5.125 % $ n/a n/a % Tier 1 risk based 163,762 12.66 85,731 6.625 n/a n/a Total risk based 178,754 13.81 111,611 8.625 n/a n/a Leverage 163,762 10.76 60,870 4.00 n/a n/a PeoplesBank, A Codorus Valley Company at December 31, 2017 Capital ratios: Common Equity Tier 1 $ 168,879 12.04 % $ 80,630 5.750 % $ 91,147 6.50 % Tier 1 risk based 168,879 12.04 101,664 7.250 112,181 8.00 Total risk based 185,568 13.23 129,709 9.250 140,226 10.00 Leverage 168,879 10.05 67,234 4.00 84,043 5.00 at December 31, 2016 Capital ratios: Common Equity Tier 1 $ 159,832 12.38 % $ 66,151 5.125 % $ 83,899 6.50 % Tier 1 risk based 159,832 12.38 85,513 6.625 103,260 8.00 Total risk based 174,824 13.54 111,328 8.625 129,076 10.00 Leverage 159,832 10.53 60,723 4.00 75,903 5.00 (1) Minimum amounts and ratios as of December 31, 2017 include the second year phase in of the capital conservation buffer of 1.25 percent required by the Basel III framework. At December 31, 2016, the minimum amounts and ratios included the first year phase in of the capital conservation buffer of 0.625 percent required by the Basel III framework. The conservation buffer is to be phased in over a four year period beginning January 1, 2016, with the full 2.5 percent required as of January 1, 2019. (2) To be “well capitalized” under the prompt corrective action provisions in the Basel III framework. “Well capitalized” applies to PeoplesBank only. |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
Shareholders' Equity [Abstract] | |
Shareholders' Equity | NOTE 10-Shareholders’ Equity Public Offering of Common Stock On December 15, 2015, the Corporation completed a public offering of 1,519,000 shares of common stock at a price of $19.75 per share. On December 23, 2015, the Corporation announced that the underwriters of the previously closed public offering had exercised in full their option to purchase an additional 227,850 shares of the Corporation’s common stock at a public offering price of $19.75 per share. The Corporation raised net proceeds of approximately $32,500,000 , resulting from the gross amount of the public offering transaction and the exercise of the purchase option of $34,500,000 , less related underwriting discounts, commissions and offering expenses of approximately $2,000,000 . Approximately $19,800,000 of the net proceeds from the public offering were invested in the Corporation’s Bank subsidiary, PeoplesBank. A portion of the proceeds were used to redeem the remaining $12,000,000 of Series B preferred held by the United States Department of Treasury on February 18, 2016. The remaining proceeds were used for general corporate purposes. Preferred Stock Issued under the US Treasury’s Small Business Lending Fund Program The U.S. Department of the Treasury (“Treasury”) had a capital investment in the Corporation pursuant to the Corporation’s participation in the Treasury’s Small Business Lending Funding Program (“SBLF Program”). In August 2011, the Corporation sold to the Treasury, for an aggregate purchase price of $25,000,000 , 25,000 shares of non-cumulative, perpetual preferred stock, Series B, $1,000 liquidation value, $2.50 par value. On May 30, 2014, the Corporation redeemed 13,000 of the 25,000 outstanding shares of the Corporation’s preferred stock that had been issued to the Treasury, leaving 12,000 outstanding shares representing $12,000,000 of preferred stock. On February 18, 2016, the Corporation redeemed the remaining $12,000,000 of Series B preferred stock issued to the Treasury as reported on Form 8-K filed on February 19, 2016. The annualized dividend rate on the preferred stock issued under the SBLF Program was 1 percent for the year ended December 31, 2015 and through the redemption date of February 18, 2016. Common Stock Dividend Periodically, the Corporation distributes stock dividends on its common stock. The Corporation distributed 5 percent common stock dividends on December 12, 2017 and December 13, 2016 which resulted in the issuance of 422,439 and 398,541 additional common shares, respectively. |
Benefit Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2017 | |
Benefit Plans [Abstract] | |
Benefit Plans | NOTE 11- Benefit Plans Defined Contribution Plan PeoplesBank maintains a 401(k) savings and investment plan covering substantially all employees. Under the plan, employees can contribute a percentage of their compensation subject to certain limits based on federal tax law. In 2017, 2016, and 2015, PeoplesBank made 100 percent matching contributions up to the first 4 percent of each employee’s compensation contributed to the plan, and both the employee and employer contributions vest immediately. PeoplesBank's expense for the 401(k) savings and investment plan was $587,000 for 2017, $522,000 for 2016 and $461,000 for 2015. Supplemental Benefit Plans PeoplesBank maintains supplemental retirement plans for selected executives. The expense associated with these plans was approximately $256,000 for 2017 , $255,000 for 2016 and $170,000 for 2015 . The accrued liability for the supplemental retirement plans was $4,063,000 at December 31, 2017 and $3,993,000 at December 31, 2016 . Income earned from bank owned life insurance policies was used to finance the cost of supplemental benefit plans, and provide a tax-exempt return to PeoplesBank. Director’s Post Retirement Split-dollar Life Insurance Benefit PeoplesBank recorded net expense of $39,000 in 2017 , $104,000 in 2016 and $3,000 in 2015 , on bank owned life insurance policies with a post retirement split-dollar life insurance benefit. The accrued liability for the post retirement split-dollar benefit was $401,000 at December 31, 2017 and $363,000 at December 31, 2016 . |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Stock-Based Compensation [Abstract] | |
Stock-Based Compensation | NOTE 12-Stock-Based Compensation FASB ASC Topic 718 requires that the fair value of equity awards granted to employees be recognized as compensation expense over the period during which an employee is required to provide service in exchange for such awards. The following table presents information about the Corporation’s stock plans, adjusted for stock dividends distributed, as of December 31, 2017 . Number of Number of Number of shares shares outstanding available for future Plan Types of grants reserved (1 ) options (1) issuance (1) Stock options 2000 Stock Incentive Plan Stock appreciation rights (2000 Plan) Restricted stock 8,568 8,568 (2) Stock options Stock appreciation rights 2007 Long Term Incentive Restricted stock Plan (07LTIP) Stock awards 203,058 203,058 (4) (3) Stock options Stock appreciation rights 2017 Long Term Incentive Restricted stock Plan (17LTIP) Stock awards 355,783 16,272 (5) 339,511 2007 Employee Stock Purchase Plan (ESPP) Stock option 170,455 0 170,455 Employee Stock Bonus Plan (ESBP) Stock awards 19,153 0 19,153 (1) Shares/options are subject to adjustment in the event of specified changes in the Corporation's capital structure. (2) Plan expired on March 28, 2010. (3) Plan expired on May 15, 2017. (4) Amount includes 25,923 of unvested options. (5) All are unvested options. 2000 Stock Incentive Plan, 2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) Options awarded under these plans to date have been granted with an exercise price equal to the fair value of the stock on the grant date, a minimum vesting period of six months and an expiration period of ten years. Restricted awards are granted at fair value. All of the restricted shares granted in 2017, 2016 and 15,290 of the restricted shares granted in 2015 vest as follows: 1/3 rd at the end of the first year from the date of grant; 1/3 rd at the end of the second year from the date of grant; and 1/3 rd at the end of the third year from the date of grant. The remaining 2,268 restricted shares granted in 2015 vest as follows: 0% at the end of the first year from the date of grant; 50% at the end of the second year from the date of grant; and 50% at the end of the third year from the date of grant. Upon exercise and/or award, the Corporation has historically issued authorized, but unissued, common stock to satisfy the options/awards. The following table presents compensation expense and related tax benefits for stock option, restricted stock and stock awards recognized on the consolidated statement of income. (dollars in thousands) 2017 2016 2015 Compensation expense $ 693 $ 491 $ 325 Tax benefit (243) (164) (78) Net income effect $ 450 $ 327 $ 247 The tax benefit shown in the preceding table is less than the benefit that would be calculated using the Corporation’s 35% statutory Federal tax rate. Under FASB ASC Topic 718, tax benefits are only recognized over the vesting period for options that ordinarily will generate a tax deduction when exercised (non-qualified stock options) and restricted stock awards. The Corporation granted the following stock options, restricted stock and stock awards during the years ended December 31, 2017 , 2016 and 2015 . 2017 2016 2015 Nonqualified stock options 16,272 21,723 70,184 Incentive stock options 0 0 5,185 Restricted stock 15,719 20,837 17,558 Stock award 9,065 0 0 The weighted average grant-date fair value and weighted average assumptions used to determine the fair value using the Black-Scholes valuation model for the stock options granted are presented below. 2017 2016 2015 Fair value $ 6.04 $ 3.64 $ 4.22 Expected life (in years) 5.3 4.5 5.2 Risk-free interest rate 2.19 % 1.57 % 1.64 % Expected volatility 24.82 % 24.31 % 28.22 % Expected dividend yield 1.86 % 2.42 % 2.59 % The expected life of the options was estimated based on historical behavior and represents the period of time that options granted are expected to be outstanding. The risk-free interest rate is the U.S. Treasury rate commensurate with the expected life of the options on the grant date. Volatility of the Corporation’s stock price was based on historical volatility for the period commensurate with the expected life of the options. Dividend yield was based on dividends for the most current year divided by the average market price for the most current year. A summary of stock options activity from the option and stock incentive plans, adjusted for stock dividends distributed, is shown below. Weighted Average Weighted Average Aggregate Exercise Price Remaining Intrinsic Value Options Per Share Contractual Term ($000) Outstanding at January 1, 2017 228,237 $ 13.83 6.8 years $ 3,061 Granted 16,272 28.86 Exercised (12,427) 15.67 Cancelled/Forfeited (4,184) 19.50 Outstanding at December 31, 2017 227,898 $ 14.70 6.0 years $ 2,946 Vested and exercisable at December 31, 2017 185,703 $ 12.74 5.3 years $ 2,746 Vested and non-vested, expected to vest at December 31, 2017 227,898 $ 14.70 6.0 years $ 2,946 The following table presents information about stock options exercised for the years ended December 31, 2017 , 2016 and 2015 . (dollars in thousands) 2017 2016 2015 Total intrinsic value of options exercised $ 142 $ 338 $ 481 Cash received from options exercised $ 195 $ 364 $ 475 Tax deduction realized from options exercised $ 50 $ 113 $ 154 The following table presents information about non-vested options and restricted stock, adjusted for stock dividends distributed, for the year ended December 31, 2017 . Stock Options Restricted Stock Weighted Average Weighted Average Exercise Price Grant Date Options Per Share Shares Fair Value Non-vested at January 1, 2017 48,943 $ 19.66 38,552 $ 19.38 Vested (18,836) 19.52 (16,989) 18.92 Cancelled/Forfeited (4,184) 19.50 (1,587) 19.32 Granted 16,272 28.86 15,719 28.21 Non-vested at December 31, 2017 42,195 $ 23.28 35,695 $ 23.49 As of December 31, 2017 , total unrecognized compensation cost related to non-vested options and restricted stock was $709,000, of which $465,000 will be recognized in 2018, $183,000 will be recognized in 2019 , $55,000 in 2020 and $6,000 in 2021 with a weighted average recognition period of 1.0 year. The unrecognized compensation expense does not include an estimate for forfeiture of stock awards. The Corporation recognizes forfeitures in the period in which the forfeiture occurs. Employee Stock Purchase Plan (ESPP) Under the ESPP, eligible employees can purchase common stock of the Corporation at 85% of the fair market value of the stock at the beginning or end of the six-month offering period, whichever is lower. The ESPP is considered to be a compensatory plan. The following table presents information about the ESPP for the years ended December 31, 2017 , 2016 and 2015 . 2017 2016 2015 ESPP shares purchased 10,732 9,897 7,716 Average purchase price per share ( 85% of market value) $ 23.330 $ 16.860 $ 16.530 Compensation expense recognized (in thousands) $ 59 $ 34 $ 33 Shares issued from treasury stock to satisfy the purchase of ESPP shares 2,772 1,416 990 Shares issued from authorized but unissued common stock to satisfy the purchase of ESPP shares 7,960 8,481 6,726 Employee Stock Bonus Plan (ESBP) The ESBP is administered by the Compensation Committee which is comprised of non-employee members of the Corporation’s Board of Directors. Under the ESBP the Corporation may issue shares of its common stock to employees as performance based compensation. There were no shares of common stock issued under the ESBP in 2017 , 2016 and 2015 . |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Abstract] | |
Income Taxes | NOTE 13-Income Taxes The following table presents the provision for income taxes for the years ended December 31, 2017 , 2016 and 2015 . (dollars in thousands) 2017 2016 2015 Current tax provision Federal $ 6,151 $ 6,221 $ 4,827 State 466 686 417 Total current tax provision 6,617 6,907 5,244 Deferred tax expense (benefit) Federal 3,211 (838) (376) State 76 (183) (55) Total deferred tax expense (benefit) 3,287 (1,021) (431) Total tax provision $ 9,904 $ 5,886 $ 4,813 The differences between the effective income tax rate and the Federal statutory income tax rate for the years ended December 31, 2017 , 2016 and 2015 are shown below. 2017 2016 2015 Statutory tax rate 35.0 % 35.0 % 35.0 % Increase (decrease) resulting from: Tax-exempt interest income (2.6) (3.6) (4.7) Bank owned life insurance income (1.6) (1.6) (1.5) State income taxes, net of federal tax benefit 1.6 1.7 1.5 Other, net 0.2 (0.5) (0.1) Change in enacted tax rate 12.6 0.0 0.0 Effective income tax rate 45.2 % 31.0 % 30.2 % On December 22, 2017, the Tax Cuts and Jobs Act was signed into law reducing the federal tax rate to 21 percent beginning on January 1, 2018. The revaluation of net deferred tax assets as of December 22, 2017 resulted in $2,755,000 of additional tax expense on the date of enactment. The impact on the 2017 effective tax rate is shown in the table above. Significant components of the Corporation’s net deferred tax asset, included in other assets as of December 31, 2017 and 2016 are shown below. (dollars in thousands) 2017 2016 Deferred tax assets Allowance for loan losses $ 3,954 $ 5,672 Deferred compensation 1,135 1,755 Low-income housing partnerships 79 312 Foreclosed real estate 0 334 Acquisition accounting adjustments 115 218 Net unrealized losses on available-for-sale securities 255 578 Acquired net operating loss carryforwards 131 347 Other 32 421 Total deferred tax assets $ 5,701 $ 9,637 Deferred tax liabilities Deferred loan fees $ 475 $ 528 Depreciation 310 565 Other 201 391 Total deferred tax liabilities $ 986 $ 1,484 Net deferred tax assets $ 4,715 $ 8,153 Based on the level of historical income projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes that, as of December 31, 2017 , it is more likely than not that the Corporation will realize the benefits of its deferred tax assets. |
Commitments To Extend Credit
Commitments To Extend Credit | 12 Months Ended |
Dec. 31, 2017 | |
Commitments To Extend Credit [Abstract] | |
Commitments To Extend Credit | NOTE 14-Commitments to Extend Credit In the normal course of business, the Corporation is a party to various financial transactions that are not funded as of the balance sheet date. Off-balance sheet financial instruments, which enable PeoplesBank clients to meet their financing needs, are comprised mainly of commitments to extend credit and standby letters of credit. Standby letters of credit are written conditional commitments issued by PeoplesBank to guarantee the performance of a client to a third party. The credit and market risk involved in issuing letters of credit is essentially the same as that involved in extending other loan commitments. To manage these risks, the Corporation uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments and requires collateral to support these letters of credit as deemed necessary. Management believes that the proceeds obtained through a liquidation of such collateral would be sufficient to cover the maximum potential amount of future payments required under the corresponding guarantees. The amount of the liability as of December 31, 2017 and 2016, for guarantees under standby letters of credit issued was considered not material by management. Normally, commitments to extend credit and letters of credit have fixed expiration dates or termination clauses, have specific rates and are for specific purposes. Many of the commitments are expected to expire without being extended; therefore, total commitment amounts do not necessarily represent future cash requirements. A summary of outstanding commitments at December 31, 2017 and 2016 is shown below. (dollars in thousands) 2017 2016 Commitments to grant loans Fixed rate $ 57,727 $ 104,274 Variable rate 29,838 27,369 Unfunded commitments of existing loans Fixed rate $ 63,327 $ 68,571 Variable rate 334,080 229,459 Standby letters of credit $ 23,603 $ 19,505 |
Contingent Liabilities
Contingent Liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Contingent Liabilities [Abstract] | |
Contingent Liabilities | NOTE 15-Contingent Liabilities Periodically, the Corporation and its subsidiary, PeoplesBank, may be defendants in legal proceedings relating to the conduct of their banking business. Most of such legal proceedings are normal parts of the banking business and, in management’s opinion, do not materially affect the financial position or results of operations of the Corporation. |
Fair Value Measurement and Fair
Fair Value Measurement and Fair Values of Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Measurement and Fair Values of Financial Instruments [Abstract] | |
Fair Value Measurement and Fair Values of Financial Instruments | Note 16-Fair Value Measurements and Fair Values of Financial Instruments The Corporation uses its best judgment in estimating the fair value of the Corporation’s assets and liabilities; however, there are inherent weaknesses in any estimation technique. Therefore, the fair value estimates herein are not necessarily indicative of the amounts that could be realized in sales transactions on the dates indicated. The estimated fair value amounts have been measured as of their respective period-ends and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values subsequent to the respective reporting dates may be different than the amounts reported at each period end. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for an asset or liability in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date. GAAP establishes a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following three levels: Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. Level 2: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that utilize model-based techniques for which all significant assumptions are observable in the market. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement; inputs to the valuation methodology that utilize model-based techniques for which significant assumptions are not observable in the market; or inputs to the valuation methodology that require significant management judgment or estimation, some of which may be internally developed. Since management maximizes the use of observable inputs and minimizes the use of unobservable inputs when determining fair value, an asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Management reviews and updates the fair value hierarchy classifications on a quarterly basis. Assets Measured at Fair Value on a Recurring Basis Securities Available for Sale The fair values of investment securities were measured using information from a third-party pricing service. The pricing service uses quoted market prices on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2), which is a mathematical technique, used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. At least annually, the Corporation reviews a random sample of the pricing information received from the third-party pricing service by comparing it to price quotes from third-party brokers. Historically, price deviations have been immaterial. Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Significant Other Active Markets for Observable Unobservable (dollars in thousands) Total Identical Assets Inputs Inputs December 31, 2017 Securities available-for-sale: U.S. Treasury notes $ 14,071 $ 14,071 $ 0 $ 0 U.S. agency 17,303 0 17,303 0 U.S. agency mortgage-backed, residential 75,175 0 75,175 0 State and municipal 52,042 0 52,042 0 December 31, 2016 Securities available-for-sale: U.S. Treasury notes $ 13,937 $ 13,937 $ 0 $ 0 U.S. agency 25,086 0 25,086 0 U.S. agency mortgage-backed, residential 91,761 0 91,761 0 State and municipal 63,955 0 63,955 0 Assets Measured at Fair Value on a Nonrecurring Basis Impaired Loans Impaired loans are those that are accounted for under FASB ASC Topic 310, in which the Corporation has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These loans are included as Level 3 fair values, based on the lowest level of input that is significant to the fair value measurements. At December 31, 2017 , the fair value consists of impaired loan balances of $1,331,000 , net of valuation allowances of $243,000 and charge-offs of $506,000 , compared to impaired loan balances of $604,000 , net of valuation allowances of $681,000 and charge-offs of $170,000 , at December 31, 2016 . Foreclosed Real Estate Other real estate property acquired through foreclosure is initially recorded at fair value of the property at the transfer date less estimated selling cost. Subsequently, other real estate owned is carried at the lower of its carrying value or the fair value less estimated selling cost. Fair value is usually determined based upon an independent third-party appraisal of the property or occasionally upon a recent sales offer. At December 31, 2017, there were no foreclosed real estate assets with a valuation allowance or write-down. At December 31, 2016, the fair value of foreclosed real estate with a valuation allowance or write-down was $1,594,000 , which is net of valuation allowances of $881,000 and no write-downs. Mortgage Servicing Rights Mortgage servicing rights are initially recorded at fair value upon the sale of residential mortgage loans to secondary market investors. The fair value of servicing rights is based on the present value of estimated future cash flows on pools of mortgages stratified by rate and original time to maturity. Mortgage servicing rights are subsequently evaluated for impairment on a quarterly basis. Significant inputs to the valuation include expected cash flow, expected net servicing income, a cash flow discount rate and the expected life of the underlying loans. At December 31, 2017, the fair value of the mortgage servicing rights asset was $769,000 . At December 31, 2016, the fair value of the mortgage servicing rights asset was $367,000 . Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Active Markets for Significant Other Unobservable (dollars in thousands) Total Identical Assets Observable Inputs Inputs December 31, 2017 Impaired loans $ 1,331 $ 0 $ 0 $ 1,331 Mortgage servicing rights 769 0 0 769 December 31, 2016 Impaired loans $ 604 $ 0 $ 0 $ 604 Foreclosed real estate 1,594 0 0 1,594 Mortgage servicing rights 367 0 0 367 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Corporation has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Weighted (dollars in thousands) Estimate Techniques Input Range Average December 31, 2017 Impaired loans $ 1,331 Appraisal (1) Appraisal adjustments (2) 24% - 52% 38% Mortgage servicing rights 769 Multiple of annual Estimated prepayment speed 6.9% - 8.5% 7.6% service fee based on rate and term December 31, 2016 Impaired loans $ 604 Appraisal (1) Appraisal adjustments (2) 15% - 25% 19% Foreclosed real estate 1,594 Appraisal (1) Appraisal adjustments (2) 9% - 9% 9% Mortgage servicing rights 367 Multiple of annual Estimated prepayment speed 6.9% - 8.8% 7.0% service fee based on rate and term (1) Fair value is generally determined through independent appraisals, which generally include various level 3 inputs that are not identifiable. (2) Appraisals may be adjusted downward by the Corporation's management for qualitative factors such as economic conditions, and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. Disclosures about Fair Value of Financial Instruments The following methods and assumptions were used to estimate the fair values of the Corporation’s financial instruments as of December 31, 2017 and 2016 . Cash and Cash Equivalents The carrying amount is a reasonable estimate of fair value. Securities Available for Sale The fair value of securities available for sale is determined in accordance with the methods described under FASB ASC Topic 820 as described above. Restricted Investment in Bank Stocks The carrying amount of restricted investment in bank stocks is a reasonable estimate of fair value. The Corporation is required to maintain minimum investment balances in these stocks. These stocks are not actively traded and, therefore, have no readily determinable market value. Loans Held for Sale The fair value of loans held for sale is determined, when possible, using quoted secondary-market prices. If no such quoted prices exist, the fair value of a loan is determined using quoted prices for a similar loan or loans, adjusted for the specific attributes of that loan. Loans, net The fair value of loans, excluding all impaired loans, is estimated using discounted cash flow analyses using the current interest rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Loans were first segregated by type such as commercial, real estate, and consumer, and were then further segmented into fixed and variable rate. Projected future cash flows are calculated based upon contractual maturity or call dates. For variable rate loans that reprice frequently and have no significant change in credit risk, fair value is based on carrying value. Interest Receivable The carrying value of interest receivable is a reasonable estimate of fair value. Deposits The fair value of demand deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date. The fair values of time deposits are estimated using a discounted cash flow analyses. The discount rates used are based on rates currently offered for deposits with similar remaining maturities. The fair values of variable rate time deposits that reprice frequently are based on carrying value. The fair values of time deposit liabilities do not take into consideration the value of the Corporation’s long-term relationships with depositors, which may have significant value. Short-term Borrowings For theses short-term instruments, the carrying amount is a reasonable estimate of fair value. Long-term Debt Long-term debt includes FHLBP advances (Level 2) and junior subordinated debt (Level 3). The fair value of FHLBP advances are estimated using discounted cash flow analysis, based on quoted prices for new FHLBP advances with similar credit risk characteristics, terms and remaining maturity. These prices are obtained from this active market and represent a market value that is deemed to represent the transfer price if the liability were assumed by a third party. The fair value of junior subordinated debt is estimated using discounted cash flow analysis, based on market rates and spread characteristics of similar debt with similar credit risk characteristics, terms and remaining maturity. Interest Payable The carrying value of interest payable is a reasonable estimate of fair value. Off-Balance Sheet Instruments Off-balance sheet instruments consist of lending commitments and letters of credit are based on fees currently charged in the market to enter into similar arrangements, taking into account the remaining terms of the agreements and counterparties’ credit standing. These amounts were not considered material. The following presents the carrying amount and estimated fair value of the Corporation’s financial instruments as of December 31, 2017 and 2016 . Fair Value Estimates (Level 1) (Level 2) (Level 3) Quoted Prices Significant Significant in Active Other Other Carrying Estimated Markets for Observable Unobservable (dollars in thousands) Amount Fair Value Identical Assets Inputs Inputs December 31, 2017 Financial assets Cash and cash equivalents $ 79,524 $ 79,524 $ 79,524 $ 0 $ 0 Securities available-for-sale 158,591 158,591 14,071 144,520 0 Restricted investment in bank stocks 6,311 6,311 0 6,311 0 Loans held for sale 1,715 1,798 0 1,798 0 Loans, net 1,383,075 1,368,753 0 0 1,368,753 Interest receivable 4,968 4,968 0 4,968 0 Mortgage servicing rights 672 769 0 0 769 Financial liabilities Deposits $ 1,384,507 $ 1,369,008 $ 0 $ 1,369,008 $ 0 Short-term borrowings 20,495 20,495 0 20,495 0 Long-term debt 130,310 127,586 0 119,474 8,112 Interest payable 626 626 0 626 0 Off-balance sheet instruments 0 0 0 0 0 December 31, 2016 Financial assets Cash and cash equivalents $ 74,032 $ 74,032 $ 74,032 $ 0 $ 0 Securities available-for-sale 194,739 194,739 13,937 180,802 0 Restricted investment in bank stocks 6,926 6,926 0 6,926 0 Loans held for sale 1,548 1,603 0 1,603 0 Loans, net 1,255,779 1,251,031 0 0 1,251,031 Interest receivable 4,448 4,448 0 4,448 0 Mortgage servicing rights 324 367 0 0 367 Financial liabilities Deposits $ 1,264,177 $ 1,262,529 $ 0 $ 1,262,529 $ 0 Short-term borrowings 56,637 56,637 0 56,637 0 Long-term debt 125,310 123,353 0 115,195 8,158 Interest payable 450 450 0 450 0 Off-balance sheet instruments 0 0 0 0 0 |
Assets And Liabilities Subject
Assets And Liabilities Subject To Offsetting | 12 Months Ended |
Dec. 31, 2017 | |
Assets And Liabilities Subject To Offsetting [Abstract] | |
Assets And Liabilities Subject To Offsetting | Note 17—Assets and Liabilities Subject to Offsetting Securities Sold Under Agreements to Repurchase PeoplesBank enters into agreements with clients in which it sells securities subject to an obligation to repurchase the same securities (“repurchase agreements”). The contractual maturity of the repurchase agreement is overnight and continues until either party terminates the agreement. These repurchase agreements are accounted for as a collateralized financing arrangement (i.e., secured borrowings) and not as a sale and subsequent repurchase of securities. The obligation to repurchase the securities is reflected as a liability (short-term borrowings) in the Corporation’s consolidated financial statements of condition, while the securities underlying the repurchase agreements are appropriately segregated for safekeeping purposes and remain in the respective securities asset accounts. Thus, there is no offsetting or netting of the securities with the repurchase agreement liabilities. Gross amounts Not Offset in Gross Net Amounts the Statements of Condition Gross Amounts of Liabilities Financial Instruments Amounts of Offset in the Presented in U.S Agency Cash Recognized Statements of the Statements mortgage-backed, Collateral Net (dollars in thousands) Liabilities Condition of Condition residential U.S. agency Pledged Amount December 31, 2017 Repurchase Agreements (1) $ 10,295 $ 0 $ 10,295 $ (10,295) $ 0 $ 0 $ 0 December 31, 2016 Repurchase Agreements (1) $ 23,637 $ 0 $ 23,637 $ (23,529) $ (108) $ 0 $ 0 (1) As of December 31, 2017 and 2016 , the fair value of securities pledged in connection with repurchase agreements was $15,545,000 and $32,535,000 , respectively. |
Condensed Financial Information
Condensed Financial Information-Parent Company Only | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information-Parent Company Only [Abstract] | |
Condensed Financial Information-Parent Company Only | Note 18-Condensed Financial Information-Parent Company Only Condensed Balance Sheets December 31, (dollars in thousands) 2017 2016 Assets Cash and due from banks $ 515 $ 467 Investment in bank subsidiary 170,238 161,027 Investment in other subsidiaries 314 317 Premises and equipment, net 3,249 3,451 Other assets 635 612 Total assets $ 174,951 $ 165,874 Liabilities Long-term debt $ 10,310 $ 10,310 Long-term debt with bank subsidiary 363 549 Other liabilities 59 58 Total liabilities 10,732 10,917 Shareholders' equity 164,219 154,957 Total liabilities and shareholders' equity $ 174,951 $ 165,874 Condensed Statements of Income and Comprehensive Income Years ended December 31, (dollars in thousands) 2017 2016 2015 Income Interest from investment securities $ 9 $ 7 $ 6 Dividends from bank subsidiary 3,580 2,801 16,116 Total income 3,589 2,808 16,122 Expense Interest expense on long-term debt 320 275 239 Occupancy of premises, net 140 174 153 Other 419 463 422 Total expense 879 912 814 Income before applicable income tax benefit and undistributed earnings (losses) of subsidiaries 2,710 1,896 15,308 Applicable income tax benefit 416 445 273 Income before undistributed earnings (losses) of subsidiaries 3,126 2,341 15,581 Equity in undistributed earnings (losses) of bank subsidiary 8,878 10,761 (4,446) Net income $ 12,004 $ 13,102 $ 11,135 Preferred stock dividends 0 16 120 Net income available to common shareholders $ 12,004 $ 13,086 $ 11,015 Comprehensive income $ 12,337 $ 10,610 $ 9,839 Note 18-Condensed Financial Information-Parent Company Only (continued) Condensed Statements of Cash Flows Years ended December 31, (dollars in thousands) 2017 2016 2015 Cash flows from operating activities Net income $ 12,004 $ 13,102 $ 11,135 Adjustments to reconcile net income to net cash provided by operations: Depreciation 202 208 207 Equity in undistributed (earnings) losses of subsidiaries, net (8,878) (10,761) 4,446 Other, net 730 435 555 Net cash provided by operating activities 4,058 2,984 16,343 Cash flows from investing activities Additional investment in bank subsidiary 0 0 (19,775) Outlay for business acquisition 0 0 (14,425) Return of investment in other subsidiary 3 0 0 Purchases of premises and equipment 0 (12) (130) Net cash provided by (used in) investing activities 3 (12) (34,330) Cash flows from financing activities Repayments of long-term debt (186) (179) (172) Tax benefit on vested restricted stock 0 0 13 Cash dividends paid to preferred shareholders 0 (46) (120) Cash dividends paid to common shareholders (4,559) (4,144) (2,991) Redemption of preferred stock 0 (12,000) 0 Net issuance of common stock 751 853 33,614 Cash paid in lieu of fractional shares (19) (12) (12) Net cash (used in) provided by financing activities (4,013) (15,528) 30,332 Net increase (decrease) in cash and cash equivalents 48 (12,556) 12,345 Cash and cash equivalents at beginning of year 467 13,023 678 Cash and cash equivalents at end of year $ 515 $ 467 $ 13,023 |
Quarterly Results Of Operations
Quarterly Results Of Operations | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Results Of Operations [Abstract] | |
Quarterly Results Of Operations | Note 19-Quarterly Results of Operations (Unaudited) A summary of the quarterly results of operations for the years ended December 31, 2017 and 2016 is shown below. 2017 2016 (dollars in thousands, Quarter Quarter except per share data) Fourth Third Second First Fourth Third Second First Interest income $ 18,552 $ 18,063 $ 17,295 $ 16,505 $ 16,233 $ 15,660 $ 15,323 $ 15,014 Interest expense 2,985 2,771 2,667 2,445 2,231 2,245 2,124 2,049 Net interest income 15,567 15,292 14,628 14,060 14,002 13,415 13,199 12,965 Provision for loan losses 600 2,100 825 650 600 800 800 800 Noninterest income 2,577 2,542 2,498 2,392 2,271 2,308 2,211 2,076 Net gain on sales of loans held for sale 611 252 282 289 358 262 235 115 Noninterest expense 11,770 10,986 11,167 11,063 10,530 10,222 10,413 10,458 Income before taxes and securities gain 6,385 5,000 5,416 5,028 5,501 4,963 4,432 3,898 Net gain on sales of securities 0 16 63 0 0 0 0 194 Income before income taxes 6,385 5,016 5,479 5,028 5,501 4,963 4,432 4,092 Provision for income taxes 4,895 1,606 1,794 1,609 1,659 1,560 1,392 1,275 Net income 1,490 3,410 3,685 3,419 3,842 3,403 3,040 2,817 Preferred stock dividends 0 0 0 0 0 0 0 16 Net income available to common shareholders $ 1,490 $ 3,410 $ 3,685 $ 3,419 $ 3,842 $ 3,403 $ 3,040 $ 2,801 Net income per common share, basic (1) $ 0.17 $ 0.38 $ 0.41 $ 0.39 $ 0.43 $ 0.39 $ 0.35 $ 0.32 Net income per common share, diluted (1) $ 0.17 $ 0.38 $ 0.41 $ 0.38 $ 0.43 $ 0.38 $ 0.35 $ 0.32 (1) adjusted for common stock dividends distributed. |
Merger With Madison Bancorp, In
Merger With Madison Bancorp, Inc. | 12 Months Ended |
Dec. 31, 2017 | |
Merger With Madison Bancorp, Inc. [Abstract] | |
Merger With Madison Bancorp, Inc. | Note 20-Merger With Madison Bancorp, Inc. On July 22, 2014 , the Corporation entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Madison Bancorp, Inc., a Maryland corporation (“Madison”), and CVLY Corp., a Pennsylvania corporation and wholly-owned subsidiary of the Corporation (“Acquisition Subsidiary”). Pursuant to the Merger Agreement, Madison agreed to cause its wholly-owned subsidiary, Madison Square Federal Savings Bank (“MSFSB”), to merge with and into the Corporation’s wholly-owned bank subsidiary, PeoplesBank, with PeoplesBank being the surviving bank in the Bank Merger. The acquisition of Madison and MSFSB was completed on January 16, 2015 , as reported on a Form 8-K filed on the same date. Pursuant to the Merger Agreement, each share of Madison common stock was converted into the right to receive $22.90 in cash, without interest, and each outstanding option to purchase Madison common stock was converted into the right to receive cash based on a formula set forth in the Merger Agreement. Total consideration paid was $14,425,000 , which included the purchase of 608,116 shares of Madison common stock as well as the cash out of 41,270 options to purchase Madison common stock with an average exercise price of $10.81 per share. The merger was accounted for using acquisition accounting, which requires the Corporation to allocate total consideration transferred to the assets acquired and liabilities assumed, based on their respective fair value at the merger date, with any remaining excess consideration being recorded as goodwill. The table below presents the detail of the total acquisition cost as well as a summary of the assets acquired and liabilities assumed recorded at their estimated fair value, as of the January 16, 2015 acquisition date. (in thousands, except per share data) January 16, 2015 Cash paid for outstanding shares of Madison common stock and outstanding options $ 14,425 Assets Acquired: Cash and due from banks $ 35,516 Securities, available for sale 1,396 Loans 77,228 Premises and equipment 2,601 Other assets 17,567 Total assets acquired 134,308 Liabilities Assumed: Deposits 120,545 Other liabilities 1,639 Total liabilities assumed 122,184 Net goodwill resulting from merger $ 2,301 The fair value of total assets acquired as a result of the merger totaled $134,308,000 , which included $1,396,000 of securities which were subsequently sold in the first quarter of 2015. Additionally, other assets of $17,567,000 included $15,256,000 of receivables related to investment securities sold prior to the merger, pending receipt of sales proceeds, which were subsequently collected. The transaction also resulted in a core deposit intangible of $39,000 and goodwill of $2,301,000 . Goodwill arising from the acquisition consists largely of synergies and the cost savings expected to result from the combining of operations and is not expected to be deductible for income tax purposes. The following is a summary of acquired impaired loans from the merger with Madison Bancorp, Inc: (dollars in thousands) January 16, 2015 Contractually required principal and interest at acquisition $ 1,961 Contractual cash flows not expected to be collected 1,185 Expected cash flows at acquisition 776 Interest component of expected cash flows 160 Basis in acquired loans at acquisition - estimated fair value $ 616 The following table presents unaudited pro forma information as if the merger between PeoplesBank and MSFSB had been completed on January 1, 2014. The pro forma information does not necessarily reflect the results of operations that would have occurred had MSFSB merged with PeoplesBank at the beginning of 2014. The pro forma financial information does not include the impact of possible business model changes, nor does it consider any potential impacts of current market conditions or revenues, cost savings, or other factors. Pro forma for the year ended (in thousands, except per share data) December 31, 2014 Net interest income $ 44,598 Noninterest income 8,246 Net income available to common shareholders 10,972 Pro forma earnings per share; adjusted: Basic $ 1.70 Diluted $ 1.66 |
Summary Of Significant Accoun30
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Significant Accounting Policies [Abstract] | |
Nature of Operations and Basis of Presentation | Nature of Operations and Basis of Presentation Codorus Valley Bancorp, Inc. (“Corporation” or “Codorus Valley”) is a one-bank holding company headquartered in York, Pennsylvania that provides a full range of banking services through its subsidiary, PeoplesBank, A Codorus Valley Company (“PeoplesBank” or “Bank”). PeoplesBank operates three wholly-owned subsidiaries as of December 31, 2017. The subsidiaries consist of Codorus Valley Financial Advisors, Inc. d/b/a PeoplesWealth Advisors, which sells non-deposit investment products in Pennsylvania, SYC Settlement Services, Inc., which provides real estate settlement services, and Codorus Valley Financial Advisors, Inc. d/b/a PeoplesWealth Advisors, a subsidiary that sells non-deposit investment products in Maryland. In addition, PeoplesBank may periodically create nonbank subsidiaries for the purpose of temporarily holding foreclosed properties pending the liquidation of these properties. PeoplesBank operates under a state charter and is subject to regulation by the Pennsylvania Department of Banking and Securities, and the Federal Deposit Insurance Corporation. The Corporation is subject to regulation by the Federal Reserve Board and the Pennsylvania Department of Banking and Securities. The consolidated financial statements include the accounts of Codorus Valley and its wholly-owned bank subsidiary, PeoplesBank, and a wholly-owned nonbank subsidiary, SYC Realty Company, Inc. SYC Realty was inactive during the reportable period of 2017. The accounts of CVB Statutory Trust No. 1 and No. 2 are not included in the consolidated financial statements as discussed in Note 8 – Short-term Borrowings and Long-term Debt. All significant intercompany account balances and transactions have been eliminated in consolidation. The accounting and reporting policies of Codorus Valley and subsidiaries conform to accounting principles generally accepted in the United States of America and have been followed on a consistent basis. |
Investment Securities | Investment Securities The classification of securities is determined at the time of acquisition and is reevaluated at each reporting date. Securities classified as available-for-sale are debt securities that the Corporation intends to hold for an indefinite period of time, but not necessarily to maturity. Any decision to sell a security classified as available-for-sale would be based on various factors, including significant movements in interest rates, changes in maturity mix of assets and liabilities, income or liquidity needs, regulatory considerations and other factors. Debt securities available-for-sale are carried at fair value, with unrealized gains and losses, net of taxes, reported as a component of accumulated other comprehensive income in shareholders' equity. Premiums and discounts are recognized in interest income using the interest method over the estimated life of the security. Realized gains and losses from the sale of available-for-sale securities are computed on the basis of specific identification of the adjusted cost of each security and are shown net as a separate line item in the statement of income. Declines in the fair value of available-for-sale securities below their cost that are deemed to be other-than-temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management must first assess whether (a) it has the intent to sell the security and (b) it is more likely than not that it will be required to sell the security prior to its anticipated recovery. These steps are done before assessing whether the cost basis of the investment will be recovered. The assessment of the probability of recovery would consider, among other things, the length of time and the extent to which the fair value has been less than cost and the financial condition and near-term prospects of the issuer. More information about investment securities is provided in Note 3 – Securities. |
Restricted Investment in Bank Stocks | Restricted Investment in Bank Stocks Restricted stock, which represents required investments in the common stock of correspondent banks, is carried at cost and, as of December 31, 2017 and 2016 consisted primarily of the common stock of the Federal Home Loan Bank of Pittsburgh (FHLBP) and, to a lesser degree, Atlantic Community Bancshares, Inc. (ACBI), the parent company of Atlantic Community Bankers Bank (ACBB). Under the FHLBP’s Capital Plan, PeoplesBank is required to maintain a minimum member stock investment, both as a condition of becoming and remaining a member and as a condition of obtaining borrowings from the FHLBP. The FHLBP uses a formula to determine the minimum stock investment, which is based on the volume of loans outstanding, unused borrowing capacity and other factors. The FHLBP paid dividends during the years ended December 31, 2017 and 2016 . The FHLBP restricts the repurchase of the excess capital stock of member banks. The amount of excess capital stock that can be repurchased from any member is currently the lesser of five percent of the member’s total capital stock outstanding or its excess capital stock outstanding. Management evaluates the restricted stock for impairment in accordance with FASB ASC Topic 942. Management’s determination of whether these investments are impaired is based on their assessment of the ultimate recoverability of their cost rather than by recognizing temporary declines in value. Using the FHLBP as an example, the determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as: (1) the significance of the decline in net assets of the FHLBP as compared to the capital stock amount for the FHLBP and the length of time this situation has persisted; (2) commitments by the FHLBP to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLBP; and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the FHLBP. Management believes no impairment charge was necessary related to the restricted stock during the periods ended December 31, 2017 and 2016 . |
Loans Held for Sale | Loans Held for Sale Loans held for sale are comprised of residential mortgage loans and the guaranteed portion of secondary-market qualified Small Business Administration loans. Loans held for sale are reported at the lower of cost or fair value, as determined by the aggregate commitments from investors or current investor yield requirements. The amount by which cost exceeds fair value, if any, is accounted for as a valuation allowance and is charged to expense in the period of the change. The Company generally sells the guaranteed portion of its SBA loans to a third party and retains the servicing, holding the nonguaranteed portion in its portfolio. Gains or losses recognized on the sale of mortgage loans and loans guaranteed by the Small Business Administration loans are recognized based on the difference between the selling price and the carrying value of the related loan and are recorded in noninterest income. |
Loans | Loans Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff, are stated at their outstanding unpaid principal balances less amounts charged off, net of an allowance for loan losses and any deferred fees or costs. Interest income is accrued on the unpaid principal balance. Generally, loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) over the contractual life of the loan. The loans receivable portfolio is segmented into commercial and consumer loans. Commercial loans consist of the following industry classes: builder & developer, commercial real estate investor, residential real estate investor, hotel/motel, wholesale & retail, agriculture, manufacturing and all other. Consumer loans consist of the following classes: residential mortgage, home equity and all other. For all classes of loans receivable, the accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan is currently performing. A loan may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for loan losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income, according to the Corporation’s judgment as to the collectability of principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, generally six months, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. |
Acquired Loans | Acquired Loans Acquired loans are initially recorded at their acquisition date fair values. The carryover of allowance for loan losses is prohibited as any credit losses in the loans are included in the determination of the fair value of the loans at the acquisition date. Fair values for acquired loans are based on a discounted cash flow methodology that involves assumptions and judgments as to credit risk, prepayment risk, liquidity risk, default rates, loss severity, payment speeds, collateral values and discount rate. For acquired loans that are not deemed impaired at acquisition, credit discounts representing principal losses expected over the life of the loan are a component of the initial fair value and amortized over the life of the asset. Subsequent to the acquisition date, the methods used to estimate the required allowance for loan losses on these loans is similar to originated loans. However, the Corporation records a provision for loan losses only when the required allowance for loan losses exceeds any remaining credit discount. The remaining differences between the acquisition date fair value and the unpaid principal balance at the date of acquisition are recorded in interest income over the life of the loan. Acquired loans that have evidence of deterioration in credit quality since origination and for which it is probable, at acquisition, that the Corporation will be unable to collect all contractually required payments are accounted for as impaired loans under ASC 310-30. The excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loans. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the non-accretable discount. The non-accretable discount represents estimated future credit losses expected to be incurred over the life of the loan. Subsequent decreases to the expected cash flows require the Corporation to evaluate the need for an allowance for loan losses on these loans. Subsequent improvements in expected cash flows result in the reversal of a corresponding amount of the non-accretable discount which the Corporation then reclassifies as an accretable discount that is recognized into interest income over the remaining life of the loans using the interest method. |
Allowance for Loan Losses | Allowance for Loan Losses The allowance for loan losses represents the Corporation’s estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans deemed to be uncollectable are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. While the Corporation attributes a portion of the allowance to individual loans and groups of loans that it evaluates and determines to be impaired, the allowance is available to cover all charge-offs that arise from the loan portfolio. The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. The Corporation performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Corporation’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The allowance consists of specific, general and unallocated components. The specific component relates to loans that are classified as impaired, generally substandard and nonaccrual loans. For loans that are classified as impaired, an allowance is established when the collateral value (or discounted cash flows or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class including commercial loans not considered impaired, as well as smaller balance homogeneous loans, such as residential real estate, home equity and other consumer loans. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these classes of loans, adjusted for qualitative (environmental) risk factors. Historical loss rates are based on a two year rolling average of net charge-offs. Qualitative risk factors that supplement historical losses in the evaluation of loan pools are shown below. Each factor is assigned a value to reflect improving, stable or declining conditions based on the Corporation’s best judgment using relevant information available at the time of the evaluation. · Changes in national and local economies and business conditions · Changes in the value of collateral for collateral dependent loans · Changes in the level of concentrations of credit · Changes in the volume and severity of classified and past due loans · Changes in the nature and volume of the portfolio · Changes in collection, charge-off, and recovery procedures · Changes in underwriting standards and loan terms · Changes in the quality of the loan review system · Changes in the experience/ability of lending management and key lending staff · Regulatory and legal regulations that could affect the level of credit losses · Other pertinent environmental factors The unallocated component is maintained to cover uncertainties that could affect the Corporation’s estimate of probable losses. For example, increasing credit risks and uncertainties, not yet reflected in current leading indicators, associated with prolonged low economic growth, or recessionary business conditions for certain industries or the broad economy, or the erosion of real estate values, represent risk factors, the occurrence of any or all of which can adversely affect a borrowers’ ability to service their loans. The unallocated component of the allowance also reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the loan portfolio, including the unpredictable timing and amounts of charge-offs and related historical loss averages, and specific-credit or broader portfolio future cash flow value and collateral valuation uncertainties which could negatively impact unimpaired portfolio loss factors. As disclosed in Note 4-Loans, the Corporation engages in commercial and consumer lending. Loans are made within the Corporation’s primary market area and surrounding areas, and include the purchase of whole loan or participation interests in loans from other financial institutions. Commercial loans, which pose the greatest risk of loss to the Corporation, whether originated or purchased, are generally secured by real estate. Within the broad commercial loan segment, the builder & developer and commercial real estate investor loan classes generally present a higher level of risk than other commercial loan classifications. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effect of general economic conditions on income producing properties, unstable real estate prices and the dependency upon successful construction and sale or operation of the real estate project. Within the consumer loan segment, junior (i.e., second) liens present a slightly higher risk to the Corporation because economic and housing market conditions can adversely affect the underlying value of the collateral and the ability of some borrowers to service their debt. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The Corporation determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Loans that are deemed impaired are evaluated for impairment loss based on the net realizable value of the collateral, as applicable. Loans that are not collateral dependent will rely on the present value of expected future cash flows discounted at the loan’s effective interest rate to determine impairment loss. Large groups of smaller balance homogeneous loans such as residential mortgage loans, home equity loans and other consumer loans are collectively evaluated for impairment, unless they are classified as impaired. An allowance for loan losses is established for an impaired commercial loan if its carrying value exceeds its estimated fair value. For commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals of the underlying collateral. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the most recent appraisal and the condition of the property. Appraisals are generally discounted to provide for selling costs and other factors to determine an estimate of the net realizable value of the property. For commercial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. In instances when specific consumer related loans become impaired, they may be partially or fully charged off, which obviates the need for a specific allowance. Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants borrowers experiencing financial difficulties concessions that it would not otherwise consider. Concessions granted under a troubled debt restructuring may involve an interest rate that is below the market rate given the associated credit risk of the loan or an extension of a loan’s stated maturity date. Loans classified as troubled debt restructurings are designated as impaired. Non-accrual troubled debt restructurings are restored to accrual status if principal and interest payments, under the modified terms, are current for a reasonable period of time, generally six consecutive months after modification and future payments are reasonably assured. Banking regulatory agencies, as an integral part of their examination process, periodically review the Corporation’s allowance for loan losses and may require the Corporation to recognize additions to the allowance based on their judgments about information available to them at the time of their examination, which may not be currently available to the Corporation. Based on a comprehensive analysis of the loan portfolio, the Corporation believes that the level of the allowance for loan losses at December 31, 2017 is adequate. |
Transfers of Financial Assets | Transfers of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Corporation, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Corporation does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. |
Premises and Equipment | Premises and Equipment Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation. Depreciation expense is calculated principally on the straight-line method over the assets’ estimated useful lives. Estimated useful lives are five to forty years for buildings and improvements, five to twenty years for furniture and equipment and two to seven years for computer equipment and software. Maintenance and repairs are charged to expense as incurred. The cost of significant improvements to existing assets is capitalized and amortized over the shorter of the asset’s useful life or related lease term. When facilities are retired or otherwise disposed of, the depreciated cost is removed from the asset accounts, and any gain or loss is reflected in the statement of income. |
Foreclosed Real Estate | Foreclosed Real Estate Foreclosed real estate, included in other assets, is comprised of property acquired through a foreclosure proceeding or property that is acquired through in substance foreclosure. Foreclosed real estate is initially recorded at fair value minus estimated costs to sell at the date of foreclosure, establishing a new cost basis. Any difference between the carrying value and the new cost basis is charged against the allowance for loan losses. Appraisals, obtained from an independent third party, are generally used to determine fair value. After foreclosure, management reviews valuations at least quarterly and adjusts the asset to the lower of cost or fair value minus estimated costs to sell through a valuation allowance or a charge-off. Costs related to the improvement of foreclosed real estate are generally capitalized until the real estate reaches a saleable condition subject to fair value limitations. Revenue and expense from operations and changes in the valuation allowance are included in noninterest expense. When a foreclosed real estate asset is ultimately sold, any gain or loss on the sale is included in the income statement as a component of noninterest expense. At December 31, 2017 , foreclosed real estate, net of allowance, was $216,000 , which included $96,000 of residential real estate, compared to $2,705,000 in foreclosed real estate, net of allowance, which included $201,000 of residential real estate, at December 31, 2016 . Included within loans receivable as of December 31, 2017, was a recorded investment of $262,000 of consumer mortgage loans secured by residential real estate properties, for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction. |
Bank Owned Life Insurance | Bank Owned Life Insurance PeoplesBank invests in bank owned life insurance (BOLI) as a source of funding for employee benefit expenses. BOLI involves the purchasing of life insurance by PeoplesBank on a select group of employees and members of the board of directors. PeoplesBank is the owner and beneficiary of the policies. This life insurance investment is carried at the cash surrender value of the underlying policies and is included in other assets in the amount of $36,632,000 at December 31, 2017 , compared to $31,621,000 at December 31, 2016 . |
Mortgage Servicing Rights | Mortgage Servicing Rights PeoplesBank retained servicing of sold mortgage loans beginning in 2016. The mortgage servicing rights (MSRs) associated with the sold loans are included in other assets on the consolidated balance sheets at an amount equal to the estimated fair value of the contractual rights to service the mortgage loans. The MSR asset is amortized as a reduction to servicing income. The MSR asset is evaluated periodically for impairment and carried at the lower of amortized cost or fair value. A third party calculates fair value by discounting the estimated cash flows from servicing income using a rate consistent with the risk associated with these assets and an expected life commensurate with the expected life of the underlying loans. In the event that the amortized cost of the MSR asset exceeds the fair value of the asset, a valuation allowance would be established through a charge against servicing income. Subsequent fair value evaluations may determine that impairment has been reduced or eliminated, in which case the valuation allowance would be reduced through a credit to earnings. At December 31, 2017, the balance of residential mortgage loans serviced for third parties was $70,780,000 compared to $36,969,000 at December 31, 2016. Years ended December 31, (dollars in thousands) 2017 2016 Amortized cost: Balance at beginning of year $ 324 $ 0 Originations of mortgage servicing rights 422 338 Amortization expense (74) (14) Balance at end of year $ 672 $ 324 |
Trust and Investment Services Assets | Trust and Investment Services Assets Assets held by PeoplesBank in a fiduciary or agency capacity for its clients are not included in the consolidated balance sheets since these items are not assets of PeoplesBank. At December 31, 2017, the market value of assets was $711,161,000 compared to $562,865,000 at December 31, 2016. |
Advertising | Advertising Advertising costs are charged to expense when incurred. |
Income Taxes | Income Taxes Deferred income taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted through the provision for income taxes for the effects of changes in tax laws and rates on the effective date. The Corporation accounts for uncertain tax positions as required by FASB ASC Topic 740. FASB ASC Topic 740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. Specifically, the accounting standard prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return as well as guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. No significant income tax uncertainties have been identified by the Corporation; therefore, the Corporation recognized no adjustment for unrecognized income tax benefits for the years ended December 31, 2017 and 2016 The Corporation’s policy is to recognize interest and penalties on unrecognized tax benefits in income taxes expense in the Consolidated Statement of Income. The Corporation did no t recognize any interest and penalties for the years ended December 31, 2017 , 2016 and 2015 . The tax years subject to examination by the taxing authorities are the years ended December 31, 2016 , 2015 , and 2014 . |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the evaluation of other-than-temporary impairment losses for investment securities and the evaluation of impairment losses for foreclosed real estate. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 16 – Fair Value Measurements and Fair Values of Financial Instruments. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect the estimates. |
Goodwill and Core Deposit Intangible Assets | Goodwill and Core Deposit Intangible Assets Goodwill arising from acquisitions is not amortized, but is subject to an annual impairment test. This test consists of a qualitative analysis. If the Corporation determines events or circumstances indicate that it is more likely than not that goodwill is impaired, a quantitative analysis must be completed. Analyses may also be performed between annual tests. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions, and selecting an appropriate control premium. The Corporation completes its annual goodwill impairment test on October 1 st of each year. Based upon the analysis, the Corporation concluded that the amount of recorded goodwill was not impaired as of October 1, 2017. Core deposit intangibles represent the value assigned to demand, interest checking, money market, and savings accounts acquired as part of an acquisition. The core deposit intangible value represents the future economic benefit of potential cost savings from acquiring core deposits as part of an acquisition compared to the cost of alternative funding sources and the alternative cost to grow a similar core deposit base. The core deposit intangible asset resulting from the merger with Madison Bancorp, Inc. was determined to have a definite life and is being amortized using the sum of the years’ digits method over ten years. All intangible assets must be evaluated for impairment if certain events or changes in circumstances occur. Any impairment write-downs would be recognized as expense on the consolidated statements of income. At December 31, 2017, the Corporation does not have any indicators of potential impairment of either goodwill or core deposit intangibles. |
Per Common Share Data | Per Common Share Data Basic net income per common share is calculated as net income available to common shareholders divided by the weighted average number of common shares outstanding. Diluted net income per common share is calculated as net income available to common shareholders divided by the weighted average number of common shares outstanding plus common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Corporation relate solely to outstanding stock options and are determined using the treasury stock method. All share and per share amounts are adjusted for stock dividends that are declared prior to the issuance of the consolidated financial statements. The computation of net income per common share for the years ended December 31, 2017 , 2016 and 2015 is provided in the table below. (in thousands, except per share data) 2017 2016 2015 Net income available to common shareholders $ 12,004 $ 13,086 $ 11,015 Weighted average shares outstanding (basic) 8,871 8,793 6,883 Effect of dilutive stock options 104 75 75 Weighted average shares outstanding (diluted) 8,975 8,868 6,958 Basic earnings per common share $ 1.35 $ 1.49 $ 1.60 Diluted earnings per common share $ 1.34 $ 1.48 $ 1.59 Anti-dilutive stock options excluded from the computation of earnings per share 16 82 118 |
Stock-Based Compensation | Stock-Based Compensation The Corporation accounts for its stock-based compensation awards in accordance with FASB ASC Topic 718, which requires public companies to recognize compensation expense, related to stock-based compensation awards in their statements of operations. Compensation expense is equal to the fair value of the stock-based compensation awards on the grant date and is recognized over the vesting period of such awards. More information is provided in Note 12 – Stock-Based Compensation. |
Cash Flow Information | Cash Flow Information For purposes of the statements of cash flows, the Corporation considers interest bearing deposits with banks, cash and due from banks, and federal funds sold to be cash and cash equivalents. Supplemental cash flow information is provided in the table below. Years ended December 31, (dollars in thousands) 2017 2016 2015 Cash paid during the period for: Income taxes $ 7,926 $ 4,973 $ 6,050 Interest $ 10,692 $ 8,667 $ 8,183 Noncash investing activities: Transfer of loans to foreclosed real estate $ 216 $ 318 $ 41 Transfer of loans held for sale to held-to-maturity portfolio $ 228 $ 251 $ 0 |
Off-Balance Sheet Financial Instruments | Off-Balance Sheet Financial Instruments In the ordinary course of business, the Corporation enters into off-balance sheet financial instruments consisting of commitments to extend credit and standby letters of credit. These financial instruments are recorded on the balance sheet when they become a receivable to the Corporation. |
Comprehensive Income | Comprehensive Income and Accumulated Other Comprehensive Income Accounting principles generally accepted in the United States of America require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the balance sheet, such items, along with net income, are components of comprehensive income. |
Segment Reporting | Segment Reporting Management has determined that it operates in only one segment, community banking. The Corporation’s non-banking activities are insignificant to the consolidated financial statements. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Pronouncements Adopted in 2017 In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220). The amendments in this ASU allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. In the fourth quarter of 2017, the Corporation elected early adoption of ASU 2018-02. Adoption of this standard resulted in a reclassification of $170,000 from accumulated other comprehensive income to retained earnings, which is reflected as a separate line within the Consolidated Statements of Changes in Shareholders’ Equity. Pronouncements Not Yet Effective In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350). This standard simplifies the test for goodwill impairment by eliminating the requirement to calculate the implied fair value of goodwill, which currently is Step 2 of the goodwill impairment test. Instead, the goodwill impairment test will consist of a single quantitative step comparing the fair value of the reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The new standard is effective for annual and any interim goodwill impairment tests in reporting periods beginning after December 15, 2019. Early adoption is permitted. The Corporation intends to adopt this standard effective with its October 1, 2020 goodwill impairment test and the adoption of this standard is not expected to have a material impact on the its consolidated financial statements based on current circumstances. In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments. This standard clarifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows to reduce diversity in practice. This standard contains guidance clarifying when an entity should separate cash receipts and cash payments and classify them into more than one class of cash flows (including when reasonable judgment is required to estimate and allocate cash flows) versus when an entity should classify the aggregate amount into one class of cash flows on the basis of predominance. The new standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Corporation intends to adopt this standard effective with its March 31, 2018 quarterly report on Form 10-Q and does not expect the adoption of the ASU to have a material impact on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326). This standard adds a new Topic 326 which requires companies to measure and record impairment on financial instruments at the time of origination using the expected credit loss (CECL) model. The CECL model calculates impairment based on historical experience, current conditions, and reasonable and supportable forecasts, and reflects the organization’s current estimate of all expected credit losses over the contractual term of its financial assets. The new standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and is in the initial stages of assessing and gathering the necessary data to implement the new standard. In February 2016, the FASB issued ASU 2016-02, Leases. From the lessee's perspective, the new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement for a lessees. From the lessor's perspective, the new standard requires a lessor to classify leases as either sales-type, finance or operating. A lease will be treated as a sale if it transfers all of the risks and rewards, as well as control of the underlying asset, to the lessee. If risks and rewards are conveyed without the transfer of control, the lease is treated as a financing lease. If the lessor doesn’t convey risks and rewards or control, an operating lease results. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. A modified retrospective transition approach is required for lessors for sales-type, direct financing, and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Corporation is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and has determined that the provisions of ASU 2016-02 will result in an increase in assets to recognize the present value of the lease obligations (right-of-use assets) with a corresponding increase in liabilities. The initial measurement of the right-of-use asset and the corresponding liability will be affected by certain key assumptions such as expectations of renewals or extensions and the interest rate to be used to discount the future lease obligations. The Corporation is currently assessing its lease portfolio to determine the key assumptions; however, the total impact of the new standard will be affected by any new leases that are executed, leases that are terminated prior to the effective date, and any leases with changes to key assumptions or expectations such as renewals and extensions, and discount rates. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This standards update provides a framework that replaces most existing revenue recognition guidance. The guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers. This ASU amends the new revenue standard to make minor technical corrections that affect narrow aspects of the guidance, including contract cost accounting, disclosures, and other matters. ASU 2014-09 and ASU 2016-20 are effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is not permitted. The Corporation has determined that certain noninterest income financial statement line items, including trust and investment services fees, income from mutual fund, annuity and insurance sales, service charges on deposit accounts, and other noninterest income, contain revenue streams that are in scope of these updates. The Corporation adopted this standard on January 1, 2018 utilizing the modified retrospective method and the adoption of the new standard did not have a material impact on its financial statements. |
Summary Of Significant Accoun31
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Significant Accounting Policies [Abstract] | |
Schedule Of Mortgage Service Rights | Years ended December 31, (dollars in thousands) 2017 2016 Amortized cost: Balance at beginning of year $ 324 $ 0 Originations of mortgage servicing rights 422 338 Amortization expense (74) (14) Balance at end of year $ 672 $ 324 |
Schedule Of Computation Of Net Income Per Common Share | (in thousands, except per share data) 2017 2016 2015 Net income available to common shareholders $ 12,004 $ 13,086 $ 11,015 Weighted average shares outstanding (basic) 8,871 8,793 6,883 Effect of dilutive stock options 104 75 75 Weighted average shares outstanding (diluted) 8,975 8,868 6,958 Basic earnings per common share $ 1.35 $ 1.49 $ 1.60 Diluted earnings per common share $ 1.34 $ 1.48 $ 1.59 Anti-dilutive stock options excluded from the computation of earnings per share 16 82 118 |
Schedule Of Supplemental Cash Flow Information | Years ended December 31, (dollars in thousands) 2017 2016 2015 Cash paid during the period for: Income taxes $ 7,926 $ 4,973 $ 6,050 Interest $ 10,692 $ 8,667 $ 8,183 Noncash investing activities: Transfer of loans to foreclosed real estate $ 216 $ 318 $ 41 Transfer of loans held for sale to held-to-maturity portfolio $ 228 $ 251 $ 0 |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Securities [Abstract] | |
Summary Of Securities Available-For-Sale | Amortized Gross Unrealized Fair (dollars in thousands) Cost Gains Losses Value December 31, 2017 Debt securities: U.S. Treasury notes $ 14,758 $ 0 $ (687) $ 14,071 U.S. agency 18,015 0 (712) 17,303 U.S. agency mortgage-backed, residential 75,204 327 (356) 75,175 State and municipal 51,827 304 (89) 52,042 Total debt securities $ 159,804 $ 631 $ (1,844) $ 158,591 December 31, 2016 Debt securities: U.S. Treasury notes $ 14,730 $ 0 $ (793) $ 13,937 U.S. agency 26,045 1 (960) 25,086 U.S. agency mortgage-backed, residential 91,242 804 (285) 91,761 State and municipal 64,421 272 (738) 63,955 Total debt securities $ 196,438 $ 1,077 $ (2,776) $ 194,739 |
Schedule Of Amortized Cost And Estimated Fair Value Of Debt Securities | Available-for-sale Amortized Fair (dollars in thousands) Cost Value Due in one year or less $ 12,982 $ 13,006 Due after one year through five years 87,928 87,925 Due after five years through ten years 55,871 54,550 Due after ten years 3,023 3,110 Total debt securities $ 159,804 $ 158,591 |
Schedule Of Gross Realized Gains And Losses On Sales Of Securities Available-For-Sale | Years ended December 31, (dollars in thousands) 2017 2016 2015 Realized gains $ 79 $ 194 $ 492 Realized losses 0 0 0 Net gains $ 79 $ 194 $ 492 |
Schedule Of Gross Unrealized Losses And Fair Value, Aggregated By Investment Category And Length Of Time | Less than 12 months 12 months or more Total Number of Fair Unrealized Number of Fair Unrealized Number of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses December 31, 2017 Debt securities: U.S. Treasury notes 0 $ 0 $ 0 3 $ 14,071 $ (687) 3 $ 14,071 $ (687) U.S. agency 1 989 (12) 4 16,314 (700) 5 17,303 (712) U.S. agency mortgage-backed, residential 25 43,329 (261) 2 5,051 (95) 27 48,380 (356) State and municipal 27 12,171 (60) 5 3,277 (29) 32 15,448 (89) Total temporarily impaired debt securities, available-for-sale 53 $ 56,489 $ (333) 14 $ 38,713 $ (1,511) 67 $ 95,202 $ (1,844) December 31, 2016 Debt securities: U.S. Treasury notes 3 $ 13,937 $ (793) 0 $ 0 $ 0 3 $ 13,937 $ (793) U.S. agency 6 22,083 (960) 0 0 0 6 22,083 (960) U.S. agency mortgage-backed, residential 15 36,473 (285) 0 0 0 15 36,473 (285) State and municipal 83 40,092 (734) 1 501 (4) 84 40,593 (738) Total temporarily impaired debt securities, available-for-sale 107 $ 112,585 $ (2,772) 1 $ 501 $ (4) 108 $ 113,086 $ (2,776) |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Loans [Abstract] | |
Schedule Of Loan Portfolio Composition | December 31, % Total December 31, % Total (dollars in thousands) 2017 Loans 2016 Loans Builder & developer $ 184,402 13.2 $ 148,635 11.7 Commercial real estate investor 230,827 16.5 243,623 19.2 Residential real estate investor 209,414 15.0 183,623 14.4 Hotel/Motel 63,195 4.5 82,085 6.5 Wholesale & retail 103,040 7.3 88,062 6.9 Manufacturing 62,510 4.5 32,616 2.6 Agriculture 59,931 4.3 51,848 4.1 Other 284,511 20.3 242,872 19.1 Total commercial related loans 1,197,830 85.6 1,073,364 84.5 Residential mortgages 79,325 5.6 73,496 5.8 Home equity 97,950 7.0 94,222 7.4 Other 24,659 1.8 29,689 2.3 Total consumer related loans 201,934 14.4 197,407 15.5 Total loans $ 1,399,764 100.0 $ 1,270,771 100.0 |
Summary Of Loan Risk Ratings By Loan Class | Special (dollars in thousands) Pass Mention Substandard Nonaccrual Total December 31, 2017 Builder & developer $ 179,897 $ 1,832 $ 581 $ 2,092 $ 184,402 Commercial real estate investor 224,822 360 4,339 1,306 230,827 Residential real estate investor 204,139 4,065 711 499 209,414 Hotel/Motel 63,195 0 0 0 63,195 Wholesale & retail 95,128 254 7,658 0 103,040 Manufacturing 58,082 588 3,840 0 62,510 Agriculture 57,140 2,476 0 315 59,931 Other 283,086 507 918 0 284,511 Total commercial related loans 1,165,489 10,082 18,047 4,212 1,197,830 Residential mortgage 79,068 10 85 162 79,325 Home equity 97,498 0 0 452 97,950 Other 24,394 30 9 226 24,659 Total consumer related loans 200,960 40 94 840 201,934 Total loans $ 1,366,449 $ 10,122 $ 18,141 $ 5,052 $ 1,399,764 December 31, 2016 Builder & developer $ 138,653 $ 6,090 $ 3,508 $ 384 $ 148,635 Commercial real estate investor 236,240 1,490 5,893 0 243,623 Residential real estate investor 177,763 4,157 866 837 183,623 Hotel/Motel 81,724 0 0 361 82,085 Wholesale & retail 79,884 8,178 0 0 88,062 Manufacturing 27,564 4,439 613 0 32,616 Agriculture 50,123 796 0 929 51,848 Other 235,515 6,213 885 259 242,872 Total commercial related loans 1,027,466 31,363 11,765 2,770 1,073,364 Residential mortgage 73,340 14 85 57 73,496 Home equity 93,908 70 0 244 94,222 Other 29,420 97 129 43 29,689 Total consumer related loans 196,668 181 214 344 197,407 Total loans $ 1,224,134 $ 31,544 $ 11,979 $ 3,114 $ 1,270,771 |
Summary Of Impaired Loans | With No Allowance With A Related Allowance Total Recorded Unpaid Recorded Unpaid Related Recorded Unpaid (dollars in thousands) Investment Principal Investment Principal Allowance Investment Principal December 31, 2017 Builder & developer $ 2,673 $ 3,008 $ 0 $ 0 $ 0 $ 2,673 $ 3,008 Commercial real estate investor 4,585 4,601 1,060 1,060 243 5,645 5,661 Residential real estate investor 1,210 1,510 0 0 0 1,210 1,510 Hotel/Motel 0 0 0 0 0 0 0 Wholesale & retail 7,912 7,912 0 0 0 7,912 7,912 Manufacturing 3,840 3,840 0 0 0 3,840 3,840 Agriculture 315 315 0 0 0 315 315 Other commercial 918 918 0 0 0 918 918 Total impaired commercial related loans 21,453 22,104 1,060 1,060 243 22,513 23,164 Residential mortgage 247 276 0 0 0 247 276 Home equity 452 452 0 0 0 452 452 Other consumer 235 235 0 0 0 235 235 Total impaired consumer related loans 934 963 0 0 0 934 963 Total impaired loans $ 22,387 $ 23,067 $ 1,060 $ 1,060 $ 243 $ 23,447 $ 24,127 December 31, 2016 Builder & developer $ 3,508 $ 3,644 $ 384 $ 384 $ 200 $ 3,892 $ 4,028 Commercial real estate investor 5,893 5,908 0 0 0 5,893 5,908 Residential real estate investor 1,404 1,404 299 299 136 1,703 1,703 Hotel/Motel 361 361 0 0 0 361 361 Wholesale & retail 260 260 0 0 0 260 260 Manufacturing 613 613 0 0 0 613 613 Agriculture 568 568 361 361 263 929 929 Other commercial 961 961 183 298 82 1,144 1,259 Total impaired commercial related loans 13,568 13,719 1,227 1,342 681 14,795 15,061 Residential mortgage 142 222 0 0 0 142 222 Home equity 244 244 0 0 0 244 244 Other consumer 172 172 0 0 0 172 172 Total impaired consumer related loans 558 638 0 0 0 558 638 Total impaired loans $ 14,126 $ 14,357 $ 1,227 $ 1,342 $ 681 $ 15,353 $ 15,699 The table below presents a summary of average impaired loans and related interest income that was included in net income for the years ended December 31, 2017 , 2016 and 2015 . With No Related Allowance With A Related Allowance Total Average Total Cash Basis Average Total Cash Basis Average Total Cash Basis Recorded Interest Interest Recorded Interest Interest Recorded Interest Interest (dollars in thousands) Investment Income Income Investment Income Income Investment Income Income December 31, 2017 Builder & developer $ 3,528 $ 140 $ 0 $ 1,088 $ 0 $ 0 $ 4,616 $ 140 $ 0 Commercial real estate investor 5,142 248 20 432 0 0 5,574 248 20 Residential real estate investor 1,371 52 13 303 0 0 1,674 52 13 Hotel/Motel 72 0 0 7 0 0 79 0 0 Wholesale & retail 5,741 260 0 0 0 0 5,741 260 0 Manufacturing 2,713 214 0 730 0 0 3,443 214 0 Agriculture 242 0 0 210 0 0 452 0 0 Other commercial 1,052 55 0 110 0 0 1,162 55 0 Total impaired commercial related loans 19,861 969 33 2,880 0 0 22,741 969 33 Residential mortgage 134 1 0 0 0 0 134 1 0 Home equity 368 17 17 0 0 0 368 17 17 Other consumer 258 8 7 0 0 0 258 8 7 Total impaired consumer related loans 760 26 24 0 0 0 760 26 24 Total impaired loans $ 20,621 $ 995 $ 57 $ 2,880 $ 0 $ 0 $ 23,501 $ 995 $ 57 December 31, 2016 Builder & developer $ 3,835 $ 230 $ 0 $ 153 $ 0 $ 0 $ 3,988 $ 230 $ 0 Commercial real estate investor 5,880 301 0 0 0 0 5,880 301 0 Residential real estate investor 937 29 2 489 0 0 1,426 29 2 Hotel/Motel 386 2 2 0 0 0 386 2 2 Wholesale & retail 280 11 0 0 0 0 280 11 0 Manufacturing 622 39 0 0 0 0 622 39 0 Agriculture 368 26 26 385 0 0 753 26 26 Other commercial 1,258 76 20 110 0 0 1,368 76 20 Total impaired commercial related loans 13,566 714 50 1,137 0 0 14,703 714 50 Residential mortgage 225 2 1 0 0 0 225 2 1 Home equity 285 2 2 0 0 0 285 2 2 Other consumer 216 11 4 0 0 0 216 11 4 Total impaired consumer related loans 726 15 7 0 0 0 726 15 7 Total impaired loans $ 14,292 $ 729 $ 57 $ 1,137 $ 0 $ 0 $ 15,429 $ 729 $ 57 December 31, 2015 Builder & developer $ 4,086 $ 275 $ 33 $ 1,396 $ 0 $ 0 $ 5,482 $ 275 $ 33 Commercial real estate investor 4,959 644 416 1,193 0 0 6,152 644 416 Residential real estate investor 871 24 1 882 27 0 1,753 51 1 Hotel/Motel 478 14 14 0 0 0 478 14 14 Wholesale & retail 373 18 2 0 0 0 373 18 2 Manufacturing 642 40 0 0 0 0 642 40 0 Agriculture 0 0 0 424 13 13 424 13 13 Other commercial 1,651 95 31 95 0 0 1,746 95 31 Total impaired commercial related loans 13,060 1,110 497 3,990 40 13 17,050 1,150 510 Residential mortgage 166 4 0 0 0 0 166 4 0 Home equity 159 2 2 0 0 0 159 2 2 Other consumer 343 22 13 0 0 0 343 22 13 Total impaired consumer related loans 668 28 15 0 0 0 668 28 15 Total impaired loans $ 13,728 $ 1,138 $ 512 $ 3,990 $ 40 $ 13 $ 17,718 $ 1,178 $ 525 |
Summary Of Past Due Loans, Nonaccrual Loans And Current Loans By Loan Segment And Class | ≥ 90 Days 30-59 60-89 Past Due Total Past Days Days and Due and Total (dollars in thousands) Past Due Past Due Accruing Nonaccrual Nonaccrual Current Loans December 31, 2017 Builder & developer $ 615 $ 26 $ 0 $ 2,092 $ 2,733 $ 181,669 $ 184,402 Commercial real estate investor 0 0 0 1,306 1,306 229,521 230,827 Residential real estate investor 347 0 0 499 846 208,568 209,414 Hotel/Motel 0 0 0 0 0 63,195 63,195 Wholesale & retail 0 0 0 0 0 103,040 103,040 Manufacturing 0 0 0 0 0 62,510 62,510 Agriculture 0 137 0 315 452 59,479 59,931 Other 203 117 0 0 320 284,191 284,511 Total commercial related loans 1,165 280 0 4,212 5,657 1,192,173 1,197,830 Residential mortgage 392 72 67 162 693 78,632 79,325 Home equity 264 5 0 452 721 97,229 97,950 Other 123 5 9 226 363 24,296 24,659 Total consumer related loans 779 82 76 840 1,777 200,157 201,934 Total loans $ 1,944 $ 362 $ 76 $ 5,052 $ 7,434 $ 1,392,330 $ 1,399,764 December 31, 2016 Builder & developer $ 1,456 $ 0 $ 0 $ 384 $ 1,840 $ 146,795 $ 148,635 Commercial real estate investor 392 209 0 0 601 243,022 243,623 Residential real estate investor 171 0 0 837 1,008 182,615 183,623 Hotel/Motel 0 0 0 361 361 81,724 82,085 Wholesale & retail 0 0 0 0 0 88,062 88,062 Manufacturing 0 0 0 0 0 32,616 32,616 Agriculture 0 0 0 929 929 50,919 51,848 Other 238 102 498 259 1,097 241,775 242,872 Total commercial related loans 2,257 311 498 2,770 5,836 1,067,528 1,073,364 Residential mortgage 55 0 68 57 180 73,316 73,496 Home equity 203 176 0 244 623 93,599 94,222 Other 131 127 167 43 468 29,221 29,689 Total consumer related loans 389 303 235 344 1,271 196,136 197,407 Total loans $ 2,646 $ 614 $ 733 $ 3,114 $ 7,107 $ 1,263,664 $ 1,270,771 |
Allowance For Loan Losses (Tabl
Allowance For Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Allowance For Loan Losses [Abstract] | |
Summary Of Allowance For Loan Losses By Loan Segment And Class | Allowance for Loan Losses January 1, 2017 December 31, 2017 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,384 $ (1,674) $ 32 $ 2,646 $ 3,388 Commercial real estate investor 2,870 0 0 143 3,013 Residential real estate investor 2,517 (518) 62 444 2,505 Hotel/Motel 807 (36) 36 (170) 637 Wholesale & retail 803 0 1 105 909 Manufacturing 307 0 0 285 592 Agriculture 619 0 0 (188) 431 Other commercial 2,467 (104) 0 280 2,643 Total commercial related loans 12,774 (2,332) 131 3,545 14,118 Residential mortgage 85 0 5 18 108 Home equity 179 (223) 0 261 217 Other consumer 193 (82) 23 (68) 66 Total consumer related loans 457 (305) 28 211 391 Unallocated 1,761 0 0 419 2,180 Total $ 14,992 $ (2,637) $ 159 $ 4,175 $ 16,689 Allowance for Loan Losses January 1, 2016 December 31, 2016 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 1,934 $ (85) $ 3 $ 532 $ 2,384 Commercial real estate investor 2,337 0 0 533 2,870 Residential real estate investor 2,101 (487) 187 716 2,517 Hotel/Motel 837 0 0 (30) 807 Wholesale & retail 701 0 3 99 803 Manufacturing 223 (140) 0 224 307 Agriculture 548 0 0 71 619 Other commercial 2,054 (59) 0 472 2,467 Total commercial related loans 10,735 (771) 193 2,617 12,774 Residential mortgage 67 (79) 1 96 85 Home equity 161 0 0 18 179 Other consumer 261 (116) 60 (12) 193 Total consumer related loans 489 (195) 61 102 457 Unallocated 1,480 0 0 281 1,761 Total $ 12,704 $ (966) $ 254 $ 3,000 $ 14,992 Allowance for Loan Losses January 1, 2015 December 31, 2015 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,236 $ (497) $ 0 $ 195 $ 1,934 Commercial real estate investor 2,204 0 0 133 2,337 Residential real estate investor 1,484 (709) 2 1,324 2,101 Hotel/Motel 671 0 0 166 837 Wholesale & retail 691 0 19 (9) 701 Manufacturing 201 0 0 22 223 Agriculture 329 0 0 219 548 Other commercial 1,554 (442) 0 942 2,054 Total commercial related loans 9,370 (1,648) 21 2,992 10,735 Residential mortgage 64 (40) 21 22 67 Home equity 176 (40) 0 25 161 Other consumer 216 (297) 25 317 261 Total consumer related loans 456 (377) 46 364 489 Unallocated 1,336 0 0 144 1,480 Total $ 11,162 $ (2,025) $ 67 $ 3,500 $ 12,704 |
Summary Of Allowance Amount For Loans Individually And Collectively Evaluated For Impairment | Allowance for Loan Losses Loans Individually Collectively Individually Collectively Evaluated For Evaluated For Evaluated For Evaluated For (dollars in thousands) Impairment Impairment Balance Impairment Impairment Balance December 31, 2017 Builder & developer $ 0 $ 3,388 $ 3,388 $ 2,673 $ 181,729 $ 184,402 Commercial real estate investor 243 2,770 3,013 5,645 225,182 230,827 Residential real estate investor 0 2,505 2,505 1,210 208,204 209,414 Hotel/Motel 0 637 637 0 63,195 63,195 Wholesale & retail 0 909 909 7,912 95,128 103,040 Manufacturing 0 592 592 3,840 58,670 62,510 Agriculture 0 431 431 315 59,616 59,931 Other commercial 0 2,643 2,643 918 283,593 284,511 Total commercial related 243 13,875 14,118 22,513 1,175,317 1,197,830 Residential mortgage 0 108 108 247 79,078 79,325 Home equity 0 217 217 452 97,498 97,950 Other consumer 0 66 66 235 24,424 24,659 Total consumer related 0 391 391 934 201,000 201,934 Unallocated 0 2,180 2,180 - - - Total $ 243 $ 16,446 $ 16,689 $ 23,447 $ 1,376,317 $ 1,399,764 December 31, 2016 Builder & developer $ 200 $ 2,184 $ 2,384 $ 3,892 $ 144,743 $ 148,635 Commercial real estate investor 0 2,870 2,870 5,893 237,730 243,623 Residential real estate investor 136 2,381 2,517 1,703 181,920 183,623 Hotel/Motel 0 807 807 361 81,724 82,085 Wholesale & retail 0 803 803 260 87,802 88,062 Manufacturing 0 307 307 613 32,003 32,616 Agriculture 263 356 619 929 50,919 51,848 Other commercial 82 2,385 2,467 1,144 241,728 242,872 Total commercial related 681 12,093 12,774 14,795 1,058,569 1,073,364 Residential mortgage 0 85 85 142 73,354 73,496 Home equity 0 179 179 244 93,978 94,222 Other consumer 0 193 193 172 29,517 29,689 Total consumer related 0 457 457 558 196,849 197,407 Unallocated 0 1,761 1,761 - - - Total $ 681 $ 14,311 $ 14,992 $ 15,353 $ 1,255,418 $ 1,270,771 December 31, 2015 Builder & developer $ 0 $ 1,934 $ 1,934 $ 4,284 $ 129,694 $ 133,978 Commercial real estate investor 0 2,337 2,337 5,977 186,017 191,994 Residential real estate investor 142 1,959 2,101 1,471 159,673 161,144 Hotel/Motel 0 837 837 420 83,751 84,171 Wholesale & retail 0 701 701 309 77,385 77,694 Manufacturing 0 223 223 630 29,695 30,325 Agriculture 263 285 548 422 40,795 41,217 Other commercial 0 2,054 2,054 1,789 214,102 215,891 Total commercial related 405 10,330 10,735 15,302 921,112 936,414 Residential mortgage 0 67 67 164 69,930 70,094 Home equity 0 161 161 202 86,206 86,408 Other consumer 0 261 261 247 30,048 30,295 Total consumer related 0 489 489 613 186,184 186,797 Unallocated 0 1,480 1,480 - - - Total $ 405 $ 12,299 $ 12,704 $ 15,915 $ 1,107,296 $ 1,123,211 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Premises And Equipment [Abstract] | |
Summary Of Premises And Equipment | (dollars in thousands) 2017 2016 Land $ 4,543 $ 4,521 Buildings and improvements 25,371 24,560 Equipment 20,057 18,796 49,971 47,877 Less accumulated depreciation/amortization (25,589) (23,304) Premises and equipment, net $ 24,382 $ 24,573 |
Schedule Of Future Minimum Lease Payments | Operating (dollars in thousands) Leases 2018 $ 763 2019 610 2020 388 2021 255 2022 134 Thereafter 183 Total future minimum lease payments $ 2,333 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Deposits | |
Schedule Of Composition Of Deposits | December 31, (dollars in thousands) 2017 2016 Noninterest bearing demand $ 246,866 $ 202,639 Interest Bearing Demand 157,903 130,394 Money market 447,425 425,874 Savings 86,292 78,585 Time deposits less than $100,000 260,482 242,778 Time deposits $100,000 to $250,000 135,242 134,811 Time deposits $250,000 or more 50,297 49,096 Total deposits $ 1,384,507 $ 1,264,177 |
Scheduled Maturities Of Time Deposits | (dollars in thousands) 2017 2018 $ 190,146 2019 118,117 2020 65,335 2021 49,204 2022 22,544 Thereafter 675 Total time deposits $ 446,021 |
Short-Term Borrowings And Lon37
Short-Term Borrowings And Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Short-Term Borrowings And Long-Term Debt [Abstract] | |
Summary Of Aggregate Short-Term Borrowings | 2017 2016 2015 Other Other Other Repurchase Short-term Repurchase Short-term Repurchase Short-term (dollars in thousands) agreements borrowings agreements borrowings agreements borrowings Amount outstanding at end of year $ 10,295 $ 10,200 $ 23,637 $ 33,000 $ 74,510 $ 0 Weighted average interest rate at end of year 0.56 % 1.55 % 0.47 % 0.94 % 0.48 % 0 % Maximum amount outstanding at any month-end $ 28,596 $ 30,000 $ 36,231 $ 33,000 $ 74,510 $ 9,459 Daily average amount outstanding $ 22,078 $ 16,910 $ 27,677 $ 3,452 $ 39,449 $ 200 Approximate weighted average interest rate for the year 0.56 % 1.14 % 0.50 % 0.66 % 0.49 % 0.33 % |
Summary Of Long-Term Debt | December 31, (dollars in thousands) 2017 2016 PeoplesBank’s obligations: FHLBP Due April 2017 , 0.97% 0 10,000 Due November 2017 , 1.19% 0 5,000 Due March 2018 , 1.17% 10,000 10,000 Due June 2018 , 1.87% 5,000 5,000 Due June 2018 , 1.41% 10,000 10,000 Due November 2018 , 1.62% 5,000 5,000 Due December 2018 , 1.60% 15,000 15,000 Due April 2019 , 1.64% 10,000 0 Due June 2019 , 1.64% 5,000 5,000 Due June 2019 , 2.10% 5,000 5,000 Due December 2019 , 1.89% 15,000 15,000 Due March 2020 , 1.86% 10,000 0 Due June 2020 , 1.87% 15,000 15,000 Due June 2021 , 2.14% 15,000 15,000 Total FHLBP 120,000 115,000 Codorus Valley Bancorp, Inc. obligations: Junior subordinated debt Due 2034 , 3.61% , floating rate based on 3 month LIBOR plus 2.02% , callable quarterly 3,093 3,093 Due 2036 , 2.90% floating rate based on 3 month LIBOR plus 1.54% , callable quarterly 7,217 7,217 Total long-term debt $ 130,310 $ 125,310 |
Summary Of Long-Term Debt Maturities | (dollars in thousands) 2017 2018 $ 45,000 2019 35,000 2020 25,000 2021 15,000 Thereafter 10,310 Total long-term debt $ 130,310 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Regulatory Matters [Abstract] | |
Schedule Of Risk-Based Capital Ratios And Leverage Ratios | Minimum for Well Capitalized Actual Capital Adequacy (1) Minimum (2) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Codorus Valley Bancorp, Inc. (consolidated ) at December 31, 2017 Capital ratios: Common Equity Tier 1 $ 162,860 11.58 % $ 80,842 5.750 % $ n/a n/a % Tier 1 risk based 172,860 12.29 101,932 7.250 n/a n/a Total risk based 189,549 13.48 130,051 9.250 n/a n/a Leverage 172,860 10.26 67,382 4.00 n/a n/a at December 31, 2016 Capital ratios: Common Equity Tier 1 $ 153,762 11.88 % $ 66,320 5.125 % $ n/a n/a % Tier 1 risk based 163,762 12.66 85,731 6.625 n/a n/a Total risk based 178,754 13.81 111,611 8.625 n/a n/a Leverage 163,762 10.76 60,870 4.00 n/a n/a PeoplesBank, A Codorus Valley Company at December 31, 2017 Capital ratios: Common Equity Tier 1 $ 168,879 12.04 % $ 80,630 5.750 % $ 91,147 6.50 % Tier 1 risk based 168,879 12.04 101,664 7.250 112,181 8.00 Total risk based 185,568 13.23 129,709 9.250 140,226 10.00 Leverage 168,879 10.05 67,234 4.00 84,043 5.00 at December 31, 2016 Capital ratios: Common Equity Tier 1 $ 159,832 12.38 % $ 66,151 5.125 % $ 83,899 6.50 % Tier 1 risk based 159,832 12.38 85,513 6.625 103,260 8.00 Total risk based 174,824 13.54 111,328 8.625 129,076 10.00 Leverage 159,832 10.53 60,723 4.00 75,903 5.00 (1) Minimum amounts and ratios as of December 31, 2017 include the second year phase in of the capital conservation buffer of 1.25 percent required by the Basel III framework. At December 31, 2016, the minimum amounts and ratios included the first year phase in of the capital conservation buffer of 0.625 percent required by the Basel III framework. The conservation buffer is to be phased in over a four year period beginning January 1, 2016, with the full 2.5 percent required as of January 1, 2019. To be “well capitalized” under the prompt corrective action provisions in the Basel III framework. “Well capitalized” applies to PeoplesBank only. |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Stock-Based Compensation [Abstract] | |
Schedule Of Share Based Compensation Stock Plans | Number of Number of Number of shares shares outstanding available for future Plan Types of grants reserved (1 ) options (1) issuance (1) Stock options 2000 Stock Incentive Plan Stock appreciation rights (2000 Plan) Restricted stock 8,568 8,568 (2) Stock options Stock appreciation rights 2007 Long Term Incentive Restricted stock Plan (07LTIP) Stock awards 203,058 203,058 (4) (3) Stock options Stock appreciation rights 2017 Long Term Incentive Restricted stock Plan (17LTIP) Stock awards 355,783 16,272 (5) 339,511 2007 Employee Stock Purchase Plan (ESPP) Stock option 170,455 0 170,455 Employee Stock Bonus Plan (ESBP) Stock awards 19,153 0 19,153 (1) Shares/options are subject to adjustment in the event of specified changes in the Corporation's capital structure. (2) Plan expired on March 28, 2010. (3) Plan expired on May 15, 2017. (4) Amount includes 25,923 of unvested options. (5) All are unvested options. |
Summary Of Compensation Expense And Related Tax Benefits For Stock Option And Restricted Stock Awards | (dollars in thousands) 2017 2016 2015 Compensation expense $ 693 $ 491 $ 325 Tax benefit (243) (164) (78) Net income effect $ 450 $ 327 $ 247 |
Granted Stock Options And Restricted Stock Awards | 2017 2016 2015 Nonqualified stock options 16,272 21,723 70,184 Incentive stock options 0 0 5,185 Restricted stock 15,719 20,837 17,558 Stock award 9,065 0 0 |
Schedule Of Weighted-Average Assumptions For Fair Value Of Stock Options Granted | 2017 2016 2015 Fair value $ 6.04 $ 3.64 $ 4.22 Expected life (in years) 5.3 4.5 5.2 Risk-free interest rate 2.19 % 1.57 % 1.64 % Expected volatility 24.82 % 24.31 % 28.22 % Expected dividend yield 1.86 % 2.42 % 2.59 % |
Summary Of Stock Options Activity | Weighted Average Weighted Average Aggregate Exercise Price Remaining Intrinsic Value Options Per Share Contractual Term ($000) Outstanding at January 1, 2017 228,237 $ 13.83 6.8 years $ 3,061 Granted 16,272 28.86 Exercised (12,427) 15.67 Cancelled/Forfeited (4,184) 19.50 Outstanding at December 31, 2017 227,898 $ 14.70 6.0 years $ 2,946 Vested and exercisable at December 31, 2017 185,703 $ 12.74 5.3 years $ 2,746 Vested and non-vested, expected to vest at December 31, 2017 227,898 $ 14.70 6.0 years $ 2,946 |
Information about Stock Options Excercised | (dollars in thousands) 2017 2016 2015 Total intrinsic value of options exercised $ 142 $ 338 $ 481 Cash received from options exercised $ 195 $ 364 $ 475 Tax deduction realized from options exercised $ 50 $ 113 $ 154 |
Summary Of Non-Vested Options And Restricted Stock | Stock Options Restricted Stock Weighted Average Weighted Average Exercise Price Grant Date Options Per Share Shares Fair Value Non-vested at January 1, 2017 48,943 $ 19.66 38,552 $ 19.38 Vested (18,836) 19.52 (16,989) 18.92 Cancelled/Forfeited (4,184) 19.50 (1,587) 19.32 Granted 16,272 28.86 15,719 28.21 Non-vested at December 31, 2017 42,195 $ 23.28 35,695 $ 23.49 |
Schedule Of Employee Stock Purchase Plan | 2017 2016 2015 ESPP shares purchased 10,732 9,897 7,716 Average purchase price per share ( 85% of market value) $ 23.330 $ 16.860 $ 16.530 Compensation expense recognized (in thousands) $ 59 $ 34 $ 33 Shares issued from treasury stock to satisfy the purchase of ESPP shares 2,772 1,416 990 Shares issued from authorized but unissued common stock to satisfy the purchase of ESPP shares 7,960 8,481 6,726 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Abstract] | |
Provision For Income Taxes | (dollars in thousands) 2017 2016 2015 Current tax provision Federal $ 6,151 $ 6,221 $ 4,827 State 466 686 417 Total current tax provision 6,617 6,907 5,244 Deferred tax expense (benefit) Federal 3,211 (838) (376) State 76 (183) (55) Total deferred tax expense (benefit) 3,287 (1,021) (431) Total tax provision $ 9,904 $ 5,886 $ 4,813 |
Summary Of Effective Income Tax Rate And The Federal Statutory Income Tax Rate | 2017 2016 2015 Statutory tax rate 35.0 % 35.0 % 35.0 % Increase (decrease) resulting from: Tax-exempt interest income (2.6) (3.6) (4.7) Bank owned life insurance income (1.6) (1.6) (1.5) State income taxes, net of federal tax benefit 1.6 1.7 1.5 Other, net 0.2 (0.5) (0.1) Change in enacted tax rate 12.6 0.0 0.0 Effective income tax rate 45.2 % 31.0 % 30.2 % |
Summary Of Deferred Tax Assets And Liabilities | (dollars in thousands) 2017 2016 Deferred tax assets Allowance for loan losses $ 3,954 $ 5,672 Deferred compensation 1,135 1,755 Low-income housing partnerships 79 312 Foreclosed real estate 0 334 Acquisition accounting adjustments 115 218 Net unrealized losses on available-for-sale securities 255 578 Acquired net operating loss carryforwards 131 347 Other 32 421 Total deferred tax assets $ 5,701 $ 9,637 Deferred tax liabilities Deferred loan fees $ 475 $ 528 Depreciation 310 565 Other 201 391 Total deferred tax liabilities $ 986 $ 1,484 Net deferred tax assets $ 4,715 $ 8,153 |
Commitments To Extend Credit (T
Commitments To Extend Credit (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments To Extend Credit [Abstract] | |
Summary Of Outstanding Commitments | (dollars in thousands) 2017 2016 Commitments to grant loans Fixed rate $ 57,727 $ 104,274 Variable rate 29,838 27,369 Unfunded commitments of existing loans Fixed rate $ 63,327 $ 68,571 Variable rate 334,080 229,459 Standby letters of credit $ 23,603 $ 19,505 |
Fair Value Measurement and Fa42
Fair Value Measurement and Fair Values of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Measurement and Fair Values of Financial Instruments [Abstract] | |
Schedule Of Assets Measured At Fair Value On Recurring Basis | Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Significant Other Active Markets for Observable Unobservable (dollars in thousands) Total Identical Assets Inputs Inputs December 31, 2017 Securities available-for-sale: U.S. Treasury notes $ 14,071 $ 14,071 $ 0 $ 0 U.S. agency 17,303 0 17,303 0 U.S. agency mortgage-backed, residential 75,175 0 75,175 0 State and municipal 52,042 0 52,042 0 December 31, 2016 Securities available-for-sale: U.S. Treasury notes $ 13,937 $ 13,937 $ 0 $ 0 U.S. agency 25,086 0 25,086 0 U.S. agency mortgage-backed, residential 91,761 0 91,761 0 State and municipal 63,955 0 63,955 0 |
Schedule Of Assets Measured At Fair Value On Nonrecurring Basis | Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Active Markets for Significant Other Unobservable (dollars in thousands) Total Identical Assets Observable Inputs Inputs December 31, 2017 Impaired loans $ 1,331 $ 0 $ 0 $ 1,331 Mortgage servicing rights 769 0 0 769 December 31, 2016 Impaired loans $ 604 $ 0 $ 0 $ 604 Foreclosed real estate 1,594 0 0 1,594 Mortgage servicing rights 367 0 0 367 |
Schedule Of Level 3 Assets Measured At Fair Value On Nonrecurring Basis | Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Weighted (dollars in thousands) Estimate Techniques Input Range Average December 31, 2017 Impaired loans $ 1,331 Appraisal (1) Appraisal adjustments (2) 24% - 52% 38% Mortgage servicing rights 769 Multiple of annual Estimated prepayment speed 6.9% - 8.5% 7.6% service fee based on rate and term December 31, 2016 Impaired loans $ 604 Appraisal (1) Appraisal adjustments (2) 15% - 25% 19% Foreclosed real estate 1,594 Appraisal (1) Appraisal adjustments (2) 9% - 9% 9% Mortgage servicing rights 367 Multiple of annual Estimated prepayment speed 6.9% - 8.8% 7.0% service fee based on rate and term (1) Fair value is generally determined through independent appraisals, which generally include various level 3 inputs that are not identifiable. (2) Appraisals may be adjusted downward by the Corporation's management for qualitative factors such as economic conditions, and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments | Fair Value Estimates (Level 1) (Level 2) (Level 3) Quoted Prices Significant Significant in Active Other Other Carrying Estimated Markets for Observable Unobservable (dollars in thousands) Amount Fair Value Identical Assets Inputs Inputs December 31, 2017 Financial assets Cash and cash equivalents $ 79,524 $ 79,524 $ 79,524 $ 0 $ 0 Securities available-for-sale 158,591 158,591 14,071 144,520 0 Restricted investment in bank stocks 6,311 6,311 0 6,311 0 Loans held for sale 1,715 1,798 0 1,798 0 Loans, net 1,383,075 1,368,753 0 0 1,368,753 Interest receivable 4,968 4,968 0 4,968 0 Mortgage servicing rights 672 769 0 0 769 Financial liabilities Deposits $ 1,384,507 $ 1,369,008 $ 0 $ 1,369,008 $ 0 Short-term borrowings 20,495 20,495 0 20,495 0 Long-term debt 130,310 127,586 0 119,474 8,112 Interest payable 626 626 0 626 0 Off-balance sheet instruments 0 0 0 0 0 December 31, 2016 Financial assets Cash and cash equivalents $ 74,032 $ 74,032 $ 74,032 $ 0 $ 0 Securities available-for-sale 194,739 194,739 13,937 180,802 0 Restricted investment in bank stocks 6,926 6,926 0 6,926 0 Loans held for sale 1,548 1,603 0 1,603 0 Loans, net 1,255,779 1,251,031 0 0 1,251,031 Interest receivable 4,448 4,448 0 4,448 0 Mortgage servicing rights 324 367 0 0 367 Financial liabilities Deposits $ 1,264,177 $ 1,262,529 $ 0 $ 1,262,529 $ 0 Short-term borrowings 56,637 56,637 0 56,637 0 Long-term debt 125,310 123,353 0 115,195 8,158 Interest payable 450 450 0 450 0 Off-balance sheet instruments 0 0 0 0 0 |
Assets And Liabilities Subjec43
Assets And Liabilities Subject To Offsetting (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Assets And Liabilities Subject To Offsetting [Abstract] | |
Schedule Of Securities Sold Under Agreements To Repurchase | Gross amounts Not Offset in Gross Net Amounts the Statements of Condition Gross Amounts of Liabilities Financial Instruments Amounts of Offset in the Presented in U.S Agency Cash Recognized Statements of the Statements mortgage-backed, Collateral Net (dollars in thousands) Liabilities Condition of Condition residential U.S. agency Pledged Amount December 31, 2017 Repurchase Agreements (1) $ 10,295 $ 0 $ 10,295 $ (10,295) $ 0 $ 0 $ 0 December 31, 2016 Repurchase Agreements (1) $ 23,637 $ 0 $ 23,637 $ (23,529) $ (108) $ 0 $ 0 (1) As of December 31, 2017 and 2016 , the fair value of securities pledged in connection with repurchase agreements was $15,545,000 and $32,535,000 , respectively. |
Condensed Financial Informati44
Condensed Financial Information-Parent Company Only (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information-Parent Company Only [Abstract] | |
Condensed Balance Sheets | Condensed Balance Sheets December 31, (dollars in thousands) 2017 2016 Assets Cash and due from banks $ 515 $ 467 Investment in bank subsidiary 170,238 161,027 Investment in other subsidiaries 314 317 Premises and equipment, net 3,249 3,451 Other assets 635 612 Total assets $ 174,951 $ 165,874 Liabilities Long-term debt $ 10,310 $ 10,310 Long-term debt with bank subsidiary 363 549 Other liabilities 59 58 Total liabilities 10,732 10,917 Shareholders' equity 164,219 154,957 Total liabilities and shareholders' equity $ 174,951 $ 165,874 |
Condensed Statements Of Income And Comprehensive Income | Condensed Statements of Income and Comprehensive Income Years ended December 31, (dollars in thousands) 2017 2016 2015 Income Interest from investment securities $ 9 $ 7 $ 6 Dividends from bank subsidiary 3,580 2,801 16,116 Total income 3,589 2,808 16,122 Expense Interest expense on long-term debt 320 275 239 Occupancy of premises, net 140 174 153 Other 419 463 422 Total expense 879 912 814 Income before applicable income tax benefit and undistributed earnings (losses) of subsidiaries 2,710 1,896 15,308 Applicable income tax benefit 416 445 273 Income before undistributed earnings (losses) of subsidiaries 3,126 2,341 15,581 Equity in undistributed earnings (losses) of bank subsidiary 8,878 10,761 (4,446) Net income $ 12,004 $ 13,102 $ 11,135 Preferred stock dividends 0 16 120 Net income available to common shareholders $ 12,004 $ 13,086 $ 11,015 Comprehensive income $ 12,337 $ 10,610 $ 9,839 |
Condensed Statements Of Cash Flows | Condensed Statements of Cash Flows Years ended December 31, (dollars in thousands) 2017 2016 2015 Cash flows from operating activities Net income $ 12,004 $ 13,102 $ 11,135 Adjustments to reconcile net income to net cash provided by operations: Depreciation 202 208 207 Equity in undistributed (earnings) losses of subsidiaries, net (8,878) (10,761) 4,446 Other, net 730 435 555 Net cash provided by operating activities 4,058 2,984 16,343 Cash flows from investing activities Additional investment in bank subsidiary 0 0 (19,775) Outlay for business acquisition 0 0 (14,425) Return of investment in other subsidiary 3 0 0 Purchases of premises and equipment 0 (12) (130) Net cash provided by (used in) investing activities 3 (12) (34,330) Cash flows from financing activities Repayments of long-term debt (186) (179) (172) Tax benefit on vested restricted stock 0 0 13 Cash dividends paid to preferred shareholders 0 (46) (120) Cash dividends paid to common shareholders (4,559) (4,144) (2,991) Redemption of preferred stock 0 (12,000) 0 Net issuance of common stock 751 853 33,614 Cash paid in lieu of fractional shares (19) (12) (12) Net cash (used in) provided by financing activities (4,013) (15,528) 30,332 Net increase (decrease) in cash and cash equivalents 48 (12,556) 12,345 Cash and cash equivalents at beginning of year 467 13,023 678 Cash and cash equivalents at end of year $ 515 $ 467 $ 13,023 |
Quarterly Results Of Operatio45
Quarterly Results Of Operations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Results Of Operations [Abstract] | |
Schedule Of Quarterly Results Of Operations | 2017 2016 (dollars in thousands, Quarter Quarter except per share data) Fourth Third Second First Fourth Third Second First Interest income $ 18,552 $ 18,063 $ 17,295 $ 16,505 $ 16,233 $ 15,660 $ 15,323 $ 15,014 Interest expense 2,985 2,771 2,667 2,445 2,231 2,245 2,124 2,049 Net interest income 15,567 15,292 14,628 14,060 14,002 13,415 13,199 12,965 Provision for loan losses 600 2,100 825 650 600 800 800 800 Noninterest income 2,577 2,542 2,498 2,392 2,271 2,308 2,211 2,076 Net gain on sales of loans held for sale 611 252 282 289 358 262 235 115 Noninterest expense 11,770 10,986 11,167 11,063 10,530 10,222 10,413 10,458 Income before taxes and securities gain 6,385 5,000 5,416 5,028 5,501 4,963 4,432 3,898 Net gain on sales of securities 0 16 63 0 0 0 0 194 Income before income taxes 6,385 5,016 5,479 5,028 5,501 4,963 4,432 4,092 Provision for income taxes 4,895 1,606 1,794 1,609 1,659 1,560 1,392 1,275 Net income 1,490 3,410 3,685 3,419 3,842 3,403 3,040 2,817 Preferred stock dividends 0 0 0 0 0 0 0 16 Net income available to common shareholders $ 1,490 $ 3,410 $ 3,685 $ 3,419 $ 3,842 $ 3,403 $ 3,040 $ 2,801 Net income per common share, basic (1) $ 0.17 $ 0.38 $ 0.41 $ 0.39 $ 0.43 $ 0.39 $ 0.35 $ 0.32 Net income per common share, diluted (1) $ 0.17 $ 0.38 $ 0.41 $ 0.38 $ 0.43 $ 0.38 $ 0.35 $ 0.32 (1) adjusted for common stock dividends distributed. |
Merger With Madison Bancorp, 46
Merger With Madison Bancorp, Inc. (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Merger With Madison Bancorp, Inc. [Abstract] | |
Summary Of Assets Acquired And Liabilities Assumed Recorded At Estimated Fair Value | (in thousands, except per share data) January 16, 2015 Cash paid for outstanding shares of Madison common stock and outstanding options $ 14,425 Assets Acquired: Cash and due from banks $ 35,516 Securities, available for sale 1,396 Loans 77,228 Premises and equipment 2,601 Other assets 17,567 Total assets acquired 134,308 Liabilities Assumed: Deposits 120,545 Other liabilities 1,639 Total liabilities assumed 122,184 Net goodwill resulting from merger $ 2,301 |
Summary Of Acquired Impaired Loans | (dollars in thousands) January 16, 2015 Contractually required principal and interest at acquisition $ 1,961 Contractual cash flows not expected to be collected 1,185 Expected cash flows at acquisition 776 Interest component of expected cash flows 160 Basis in acquired loans at acquisition - estimated fair value $ 616 |
Schedule Of Pro Forma Financial Information | Pro forma for the year ended (in thousands, except per share data) December 31, 2014 Net interest income $ 44,598 Noninterest income 8,246 Net income available to common shareholders 10,972 Pro forma earnings per share; adjusted: Basic $ 1.70 Diluted $ 1.66 |
Summary Of Significant Accoun47
Summary Of Significant Accounting Policies (Narrative) (Details) $ in Thousands | Dec. 12, 2017 | Dec. 13, 2016 | Dec. 31, 2017USD ($)segment | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Significant Accounting Policies [Line Items] | |||||
Excess capital stock percent repurchase amount of member's total capital stock outstanding | 5.00% | ||||
Number of days for accrual of interest on the payment of principal or interest | 90 days | ||||
Foreclosed real estate, net of allowance | $ 216 | $ 2,705 | |||
Assets held by PeoplesBank in a fiduciary or agency capacity | $ 711,161 | $ 562,865 | |||
Common stock dividend, rate | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% |
Cash surrender value of the underlying properties | $ 36,632 | $ 31,621 | |||
Interest and penalties on unrecognized tax benefits | $ 0 | 0 | $ 0 | ||
Number of operating segment | segment | 1 | ||||
Tax Year 2014 [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Tax year subject to examination by the taxing authorities | 2,014 | ||||
Tax Year 2015 [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Tax year subject to examination by the taxing authorities | 2,015 | ||||
Tax Year 2016 [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Tax year subject to examination by the taxing authorities | 2,016 | ||||
Minimum [Member] | Buildings and Improvements [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Estimated useful lives | 5 years | ||||
Minimum [Member] | Furniture and Equipment [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Estimated useful lives | 5 years | ||||
Minimum [Member] | Computer Equipment and Software [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Estimated useful lives | 2 years | ||||
Maximum [Member] | Buildings and Improvements [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Estimated useful lives | 40 years | ||||
Maximum [Member] | Furniture and Equipment [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Estimated useful lives | 20 years | ||||
Maximum [Member] | Computer Equipment and Software [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Estimated useful lives | 7 years | ||||
Residential Mortgages [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Foreclosed real estate, net of allowance | $ 96 | 201 | |||
Residential Mortgages [Member] | Mortgage Servicing Rights [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Mortgage loans serviced for third parties | 70,780 | $ 36,969 | |||
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Loans in process of forclosure amount | $ 262 | ||||
Core Deposits Intangible Assets [Member] | Madison Bancorp, Inc. [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Intangible assets, amortization period | 10 years |
Summary Of Significant Accoun48
Summary Of Significant Accounting Policies (Schedule Of Mortgage Service Rights) (Details) - Residential Mortgage [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance at beginning of year | $ 324 | $ 0 |
Originations of mortgage servicing rights | 422 | 338 |
Amortization expense | (74) | (14) |
Balance at end of year | $ 672 | $ 324 |
Summary Of Significant Accoun49
Summary Of Significant Accounting Policies (Schedule Of Computation Of Net Income Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Summary Of Significant Accounting Policies [Abstract] | |||||||||||
Net income available to common shareholders | $ 1,490 | $ 3,410 | $ 3,685 | $ 3,419 | $ 3,842 | $ 3,403 | $ 3,040 | $ 2,801 | $ 12,004 | $ 13,086 | $ 11,015 |
Weighted average shares outstanding (basic) | 8,871 | 8,793 | 6,883 | ||||||||
Effect of dilutive stock options | 104 | 75 | 75 | ||||||||
Weighted average shares outstanding (diluted) | 8,975 | 8,868 | 6,958 | ||||||||
Basic earnings per common share | $ 0.17 | $ 0.38 | $ 0.41 | $ 0.39 | $ 0.43 | $ 0.39 | $ 0.35 | $ 0.32 | $ 1.35 | $ 1.49 | $ 1.60 |
Diluted earnings per common share | $ 0.17 | $ 0.38 | $ 0.41 | $ 0.38 | $ 0.43 | $ 0.38 | $ 0.35 | $ 0.32 | $ 1.34 | $ 1.48 | $ 1.59 |
Anti-dilutive stock options excluded from the computation of earnings per share | 16 | 82 | 118 |
Summary Of Significant Accoun50
Summary Of Significant Accounting Policies (Schedule Of Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Summary Of Significant Accounting Policies [Abstract] | |||
Cash paid during the period for: Income taxes | $ 7,926 | $ 4,973 | $ 6,050 |
Cash paid during the period for: Interest | 10,692 | 8,667 | 8,183 |
Noncash investing activities: Transfer of loans held for sale to held-to-maturity portfolio | 228 | 251 | 0 |
Transfer of loans to foreclosed real estate | $ 216 | $ 318 | $ 41 |
Restrictions On Cash And Due 51
Restrictions On Cash And Due From Banks (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Restricted Investment In Bank Stocks [Abstract] | ||
Compensating balances with correspondent banks | $ 50 | $ 50 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Geographic Concentration Risk [Member] | Pennsylvania [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value of municipal bond portfolio concentration percentage | 82.00% | |
U.S. Agency [Member] | Carrying Amount [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities pledged as collateral | $ 105,603 | $ 160,357 |
Securities (Summary Of Securiti
Securities (Summary Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | $ 159,804 | $ 196,438 |
Total debt securities, Gross Unrealized Gains | 631 | 1,077 |
Total debt securities, Gross Unrealized Losses | (1,844) | (2,776) |
Total debt securities, Fair Value | 158,591 | 194,739 |
U.S. Treasury Notes [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 14,758 | 14,730 |
Total debt securities, Gross Unrealized Gains | 0 | 0 |
Total debt securities, Gross Unrealized Losses | (687) | (793) |
Total debt securities, Fair Value | 14,071 | 13,937 |
U.S. Agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 18,015 | 26,045 |
Total debt securities, Gross Unrealized Gains | 0 | 1 |
Total debt securities, Gross Unrealized Losses | (712) | (960) |
Total debt securities, Fair Value | 17,303 | 25,086 |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 75,204 | 91,242 |
Total debt securities, Gross Unrealized Gains | 327 | 804 |
Total debt securities, Gross Unrealized Losses | (356) | (285) |
Total debt securities, Fair Value | 75,175 | 91,761 |
State And Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 51,827 | 64,421 |
Total debt securities, Gross Unrealized Gains | 304 | 272 |
Total debt securities, Gross Unrealized Losses | (89) | (738) |
Total debt securities, Fair Value | $ 52,042 | $ 63,955 |
Securities (Schedule Of Amortiz
Securities (Schedule Of Amortized Cost And Estimated Fair Value Of Debt Securities) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Securities [Abstract] | ||
Due in one year or less, Available-for-sale, Amortized Cost | $ 12,982 | |
Due after one year through five years, Available-for-sale, Amortized Cost | 87,928 | |
Due after five years through ten years, Available-for-sale, Amortized Cost | 55,871 | |
Due after ten years, Available-for-sale, Amortized Cost | 3,023 | |
Total debt securities, Amortized Cost | 159,804 | $ 196,438 |
Due in one year or less, Available-for-sale, Fair Value | 13,006 | |
Due after one year through five years, Available-for-sale, Fair Value | 87,925 | |
Due after five years through ten years, Available-for-sale, Fair Value | 54,550 | |
Due after ten years, Available-for-sale, Fair Value | 3,110 | |
Total debt securities, Fair Value | $ 158,591 | $ 194,739 |
Securities (Schedule Of Gross R
Securities (Schedule Of Gross Realized Gains And Losses On Sales Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Securities [Abstract] | |||
Realized gains | $ 79 | $ 194 | $ 492 |
Realized losses | 0 | 0 | 0 |
Net gains | $ 79 | $ 194 | $ 492 |
Securities (Schedule Of Gross U
Securities (Schedule Of Gross Unrealized Losses And Fair Value, Aggregated By Investment Category And Length Of Time) (Details) $ in Thousands | Dec. 31, 2017USD ($)security | Dec. 31, 2016USD ($)security |
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 53 | 107 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 56,489 | $ 112,585 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (333) | $ (2,772) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 14 | 1 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 38,713 | $ 501 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (1,511) | $ (4) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 67 | 108 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 95,202 | $ 113,086 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (1,844) | $ (2,776) |
U.S. Treasury Notes [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 0 | 3 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 0 | $ 13,937 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ 0 | $ (793) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 3 | 0 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 14,071 | $ 0 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (687) | $ 0 |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 3 | 3 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 14,071 | $ 13,937 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (687) | $ (793) |
U.S. Agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 1 | 6 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 989 | $ 22,083 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (12) | $ (960) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 4 | 0 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 16,314 | $ 0 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (700) | $ 0 |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 5 | 6 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 17,303 | $ 22,083 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (712) | $ (960) |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 25 | 15 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 43,329 | $ 36,473 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (261) | $ (285) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 2 | 0 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 5,051 | $ 0 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (95) | $ 0 |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 27 | 15 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 48,380 | $ 36,473 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (356) | $ (285) |
State And Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 27 | 83 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 12,171 | $ 40,092 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (60) | $ (734) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 5 | 1 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 3,277 | $ 501 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (29) | $ (4) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 32 | 84 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 15,448 | $ 40,593 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (89) | $ (738) |
Loans (Narrative) (Details)
Loans (Narrative) (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($)segmentcontractloanitem | Dec. 31, 2016USD ($)loanitem | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of loan portfolio segments | segment | 2 | |
Maximum amount of consumer and commercial loans that use third-party credit scoring software models for risk rating purposes | $ 500 | |
Number of risk ratings used to grade commercial loans | item | 10 | |
Number of loans modified under TDRs | loan | 0 | 0 |
Number of defaults | contract | 0 | |
Principal balance of outstanding loans to directors, executive officers, principal sharehoders and any associates of such persons | $ 8,580 | $ 162 |
Total additions to loans | 9,360 | |
Total repayments and reductions of loans | $ 942 | |
Credit Concentration Risk [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of industry concentrations exceeding 10% | item | 3 | 3 |
Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration of credit risk | 100.00% | 100.00% |
Lowest Risk [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of risk ratings used to grade commercial loans | item | 7 | |
Total Commercial Related Loans [Member] | Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration of credit risk | 85.60% | 84.50% |
Total Commercial Related Loans [Member] | Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | Commercial Real Estate Investor [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration of credit risk | 16.50% | 19.20% |
Total Commercial Related Loans [Member] | Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | Residential Real Estate Investor [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration of credit risk | 15.00% | 14.40% |
Total Commercial Related Loans [Member] | Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | Builder & Developer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration of credit risk | 13.20% | 11.70% |
Minimum [Member] | Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration of credit risk | 10.00% | 10.00% |
Loans (Schedule Of Loan Portfol
Loans (Schedule Of Loan Portfolio Composition) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 1,399,764 | $ 1,270,771 | $ 1,123,211 |
Total Commercial Related Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 1,197,830 | 1,073,364 | 936,414 |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 184,402 | 148,635 | 133,978 |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 230,827 | 243,623 | 191,994 |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 209,414 | 183,623 | 161,144 |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 63,195 | 82,085 | 84,171 |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 103,040 | 88,062 | 77,694 |
Total Commercial Related Loans [Member] | Manufacturing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 62,510 | 32,616 | 30,325 |
Total Commercial Related Loans [Member] | Agriculture [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 59,931 | 51,848 | 41,217 |
Total Commercial Related Loans [Member] | Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 284,511 | 242,872 | 215,891 |
Total Consumer Related Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 201,934 | 197,407 | 186,797 |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 79,325 | 73,496 | 70,094 |
Total Consumer Related Loans [Member] | Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 97,950 | 94,222 | 86,408 |
Total Consumer Related Loans [Member] | Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 24,659 | $ 29,689 | $ 30,295 |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 100.00% | 100.00% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 85.60% | 84.50% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Builder & Developer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 13.20% | 11.70% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 16.50% | 19.20% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 15.00% | 14.40% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Hotel/Motel [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 4.50% | 6.50% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 7.30% | 6.90% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Manufacturing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 4.50% | 2.60% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Agriculture [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 4.30% | 4.10% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Commercial Related Loans [Member] | Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 20.30% | 19.10% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 14.40% | 15.50% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | Residential Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 5.60% | 5.80% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 7.00% | 7.40% | |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
% Total Loans | 1.80% | 2.30% |
Loans (Summary Of Loan Risk Rat
Loans (Summary Of Loan Risk Ratings By Loan Class) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | $ 1,399,764 | $ 1,270,771 | $ 1,123,211 |
Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,366,449 | 1,224,134 | |
Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 10,122 | 31,544 | |
Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 18,141 | 11,979 | |
Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 5,052 | 3,114 | |
Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,197,830 | 1,073,364 | 936,414 |
Total Commercial Related Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,165,489 | 1,027,466 | |
Total Commercial Related Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 10,082 | 31,363 | |
Total Commercial Related Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 18,047 | 11,765 | |
Total Commercial Related Loans [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 4,212 | 2,770 | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 184,402 | 148,635 | 133,978 |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 179,897 | 138,653 | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,832 | 6,090 | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 581 | 3,508 | |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 2,092 | 384 | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 230,827 | 243,623 | 191,994 |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 224,822 | 236,240 | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 360 | 1,490 | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 4,339 | 5,893 | |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 1,306 | 0 | |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 209,414 | 183,623 | 161,144 |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 204,139 | 177,763 | |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 4,065 | 4,157 | |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 711 | 866 | |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 499 | 837 | |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 63,195 | 82,085 | 84,171 |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 63,195 | 81,724 | |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 361 | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 103,040 | 88,062 | 77,694 |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 95,128 | 79,884 | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 254 | 8,178 | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 7,658 | 0 | |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 62,510 | 32,616 | 30,325 |
Total Commercial Related Loans [Member] | Manufacturing [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 58,082 | 27,564 | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 588 | 4,439 | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 3,840 | 613 | |
Total Commercial Related Loans [Member] | Manufacturing [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Commercial Related Loans [Member] | Agriculture [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 59,931 | 51,848 | 41,217 |
Total Commercial Related Loans [Member] | Agriculture [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 57,140 | 50,123 | |
Total Commercial Related Loans [Member] | Agriculture [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 2,476 | 796 | |
Total Commercial Related Loans [Member] | Agriculture [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Commercial Related Loans [Member] | Agriculture [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 315 | 929 | |
Total Commercial Related Loans [Member] | Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 284,511 | 242,872 | 215,891 |
Total Commercial Related Loans [Member] | Other [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 283,086 | 235,515 | |
Total Commercial Related Loans [Member] | Other [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 507 | 6,213 | |
Total Commercial Related Loans [Member] | Other [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 918 | 885 | |
Total Commercial Related Loans [Member] | Other [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 259 | |
Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 201,934 | 197,407 | 186,797 |
Total Consumer Related Loans [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 200,960 | 196,668 | |
Total Consumer Related Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 40 | 181 | |
Total Consumer Related Loans [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 94 | 214 | |
Total Consumer Related Loans [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 840 | 344 | |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 79,325 | 73,496 | 70,094 |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 79,068 | 73,340 | |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 10 | 14 | |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 85 | 85 | |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 162 | 57 | |
Total Consumer Related Loans [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 97,950 | 94,222 | 86,408 |
Total Consumer Related Loans [Member] | Home Equity [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 97,498 | 93,908 | |
Total Consumer Related Loans [Member] | Home Equity [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 70 | |
Total Consumer Related Loans [Member] | Home Equity [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 0 | 0 | |
Total Consumer Related Loans [Member] | Home Equity [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 452 | 244 | |
Total Consumer Related Loans [Member] | Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 24,659 | 29,689 | $ 30,295 |
Total Consumer Related Loans [Member] | Other [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 24,394 | 29,420 | |
Total Consumer Related Loans [Member] | Other [Member] | Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 30 | 97 | |
Total Consumer Related Loans [Member] | Other [Member] | Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | 9 | 129 | |
Total Consumer Related Loans [Member] | Other [Member] | Nonaccrual [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans | $ 226 | $ 43 |
Loans (Summary Of Impaired Loan
Loans (Summary Of Impaired Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | $ 22,387 | $ 14,126 |
Impaired Loans, With No Allowance, Unpaid Principal | 23,067 | 14,357 |
Impaired Loans, With A Related Allowance, Recorded Investment | 1,060 | 1,227 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 1,060 | 1,342 |
Impaired Loans, With A Related Allowance, Related Allowance | 243 | 681 |
Impaired Loans, Total, Recorded Investment | 23,447 | 15,353 |
Impaired Loans, Total, Unpaid Principal | 24,127 | 15,699 |
Total Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 21,453 | 13,568 |
Impaired Loans, With No Allowance, Unpaid Principal | 22,104 | 13,719 |
Impaired Loans, With A Related Allowance, Recorded Investment | 1,060 | 1,227 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 1,060 | 1,342 |
Impaired Loans, With A Related Allowance, Related Allowance | 243 | 681 |
Impaired Loans, Total, Recorded Investment | 22,513 | 14,795 |
Impaired Loans, Total, Unpaid Principal | 23,164 | 15,061 |
Total Commercial Related Loans [Member] | Builder & Developer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 2,673 | 3,508 |
Impaired Loans, With No Allowance, Unpaid Principal | 3,008 | 3,644 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 384 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 384 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 200 |
Impaired Loans, Total, Recorded Investment | 2,673 | 3,892 |
Impaired Loans, Total, Unpaid Principal | 3,008 | 4,028 |
Total Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 4,585 | 5,893 |
Impaired Loans, With No Allowance, Unpaid Principal | 4,601 | 5,908 |
Impaired Loans, With A Related Allowance, Recorded Investment | 1,060 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 1,060 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 243 | 0 |
Impaired Loans, Total, Recorded Investment | 5,645 | 5,893 |
Impaired Loans, Total, Unpaid Principal | 5,661 | 5,908 |
Total Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 1,210 | 1,404 |
Impaired Loans, With No Allowance, Unpaid Principal | 1,510 | 1,404 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 299 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 299 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 136 |
Impaired Loans, Total, Recorded Investment | 1,210 | 1,703 |
Impaired Loans, Total, Unpaid Principal | 1,510 | 1,703 |
Total Commercial Related Loans [Member] | Hotel/Motel [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 0 | 361 |
Impaired Loans, With No Allowance, Unpaid Principal | 0 | 361 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 0 | 361 |
Impaired Loans, Total, Unpaid Principal | 0 | 361 |
Total Commercial Related Loans [Member] | Wholesale & Retail [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 7,912 | 260 |
Impaired Loans, With No Allowance, Unpaid Principal | 7,912 | 260 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 7,912 | 260 |
Impaired Loans, Total, Unpaid Principal | 7,912 | 260 |
Total Commercial Related Loans [Member] | Manufacturing [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 3,840 | 613 |
Impaired Loans, With No Allowance, Unpaid Principal | 3,840 | 613 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 3,840 | 613 |
Impaired Loans, Total, Unpaid Principal | 3,840 | 613 |
Total Commercial Related Loans [Member] | Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 315 | 568 |
Impaired Loans, With No Allowance, Unpaid Principal | 315 | 568 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 361 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 361 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 263 |
Impaired Loans, Total, Recorded Investment | 315 | 929 |
Impaired Loans, Total, Unpaid Principal | 315 | 929 |
Total Commercial Related Loans [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 918 | 961 |
Impaired Loans, With No Allowance, Unpaid Principal | 918 | 961 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 183 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 298 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 82 |
Impaired Loans, Total, Recorded Investment | 918 | 1,144 |
Impaired Loans, Total, Unpaid Principal | 918 | 1,259 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 934 | 558 |
Impaired Loans, With No Allowance, Unpaid Principal | 963 | 638 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 934 | 558 |
Impaired Loans, Total, Unpaid Principal | 963 | 638 |
Total Consumer Related Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 247 | 142 |
Impaired Loans, With No Allowance, Unpaid Principal | 276 | 222 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 247 | 142 |
Impaired Loans, Total, Unpaid Principal | 276 | 222 |
Total Consumer Related Loans [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 452 | 244 |
Impaired Loans, With No Allowance, Unpaid Principal | 452 | 244 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 452 | 244 |
Impaired Loans, Total, Unpaid Principal | 452 | 244 |
Total Consumer Related Loans [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 235 | 172 |
Impaired Loans, With No Allowance, Unpaid Principal | 235 | 172 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 235 | 172 |
Impaired Loans, Total, Unpaid Principal | $ 235 | $ 172 |
Loans (Summary Of Average Impai
Loans (Summary Of Average Impaired Loans And Related Interest Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | $ 20,621 | $ 14,292 | $ 13,728 |
Impaired Loans, With No Related Allowance, Total Interest Income | 995 | 729 | 1,138 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 57 | 57 | 512 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 2,880 | 1,137 | 3,990 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 40 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 13 |
Impaired Loans, Total, Average Recorded Investment | 23,501 | 15,429 | 17,718 |
Impaired Loans, Total, Total Interest Income | 995 | 729 | 1,178 |
Impaired Loans, Total, Cash Basis Interest Income | 57 | 57 | 525 |
Total Commercial Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 19,861 | 13,566 | 13,060 |
Impaired Loans, With No Related Allowance, Total Interest Income | 969 | 714 | 1,110 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 33 | 50 | 497 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 2,880 | 1,137 | 3,990 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 40 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 13 |
Impaired Loans, Total, Average Recorded Investment | 22,741 | 14,703 | 17,050 |
Impaired Loans, Total, Total Interest Income | 969 | 714 | 1,150 |
Impaired Loans, Total, Cash Basis Interest Income | 33 | 50 | 510 |
Total Consumer Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 760 | 726 | 668 |
Impaired Loans, With No Related Allowance, Total Interest Income | 26 | 15 | 28 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 24 | 7 | 15 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 760 | 726 | 668 |
Impaired Loans, Total, Total Interest Income | 26 | 15 | 28 |
Impaired Loans, Total, Cash Basis Interest Income | 24 | 7 | 15 |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 3,528 | 3,835 | 4,086 |
Impaired Loans, With No Related Allowance, Total Interest Income | 140 | 230 | 275 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 0 | 33 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 1,088 | 153 | 1,396 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 4,616 | 3,988 | 5,482 |
Impaired Loans, Total, Total Interest Income | 140 | 230 | 275 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 0 | 33 |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 5,142 | 5,880 | 4,959 |
Impaired Loans, With No Related Allowance, Total Interest Income | 248 | 301 | 644 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 20 | 0 | 416 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 432 | 0 | 1,193 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 5,574 | 5,880 | 6,152 |
Impaired Loans, Total, Total Interest Income | 248 | 301 | 644 |
Impaired Loans, Total, Cash Basis Interest Income | 20 | 0 | 416 |
Residential Real Estate Investor [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 1,371 | 937 | 871 |
Impaired Loans, With No Related Allowance, Total Interest Income | 52 | 29 | 24 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 13 | 2 | 1 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 303 | 489 | 882 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 27 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,674 | 1,426 | 1,753 |
Impaired Loans, Total, Total Interest Income | 52 | 29 | 51 |
Impaired Loans, Total, Cash Basis Interest Income | 13 | 2 | 1 |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 72 | 386 | 478 |
Impaired Loans, With No Related Allowance, Total Interest Income | 0 | 2 | 14 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 2 | 14 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 7 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 79 | 386 | 478 |
Impaired Loans, Total, Total Interest Income | 0 | 2 | 14 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 2 | 14 |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 5,741 | 280 | 373 |
Impaired Loans, With No Related Allowance, Total Interest Income | 260 | 11 | 18 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 0 | 2 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 5,741 | 280 | 373 |
Impaired Loans, Total, Total Interest Income | 260 | 11 | 18 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 0 | 2 |
Manufacturing [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 2,713 | 622 | 642 |
Impaired Loans, With No Related Allowance, Total Interest Income | 214 | 39 | 40 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 730 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 3,443 | 622 | 642 |
Impaired Loans, Total, Total Interest Income | 214 | 39 | 40 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 0 | 0 |
Agriculture [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 242 | 368 | 0 |
Impaired Loans, With No Related Allowance, Total Interest Income | 0 | 26 | 0 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 26 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 210 | 385 | 424 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 13 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 13 |
Impaired Loans, Total, Average Recorded Investment | 452 | 753 | 424 |
Impaired Loans, Total, Total Interest Income | 0 | 26 | 13 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 26 | 13 |
Residential Mortgages [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 134 | 225 | 166 |
Impaired Loans, With No Related Allowance, Total Interest Income | 1 | 2 | 4 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 1 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 134 | 225 | 166 |
Impaired Loans, Total, Total Interest Income | 1 | 2 | 4 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 1 | 0 |
Home Equity [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 368 | 285 | 159 |
Impaired Loans, With No Related Allowance, Total Interest Income | 17 | 2 | 2 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 17 | 2 | 2 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 368 | 285 | 159 |
Impaired Loans, Total, Total Interest Income | 17 | 2 | 2 |
Impaired Loans, Total, Cash Basis Interest Income | 17 | 2 | 2 |
Other [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 1,052 | 1,258 | 1,651 |
Impaired Loans, With No Related Allowance, Total Interest Income | 55 | 76 | 95 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 0 | 20 | 31 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 110 | 110 | 95 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,162 | 1,368 | 1,746 |
Impaired Loans, Total, Total Interest Income | 55 | 76 | 95 |
Impaired Loans, Total, Cash Basis Interest Income | 0 | 20 | 31 |
Other [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 258 | 216 | 343 |
Impaired Loans, With No Related Allowance, Total Interest Income | 8 | 11 | 22 |
Impaired Loans, With No Related Allowance, Cash Basis Interest Income | 7 | 4 | 13 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 | 0 |
Impaired Loans, With A Related Allowance, Cash Basis Interest Income | 0 | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 258 | 216 | 343 |
Impaired Loans, Total, Total Interest Income | 8 | 11 | 22 |
Impaired Loans, Total, Cash Basis Interest Income | $ 7 | $ 4 | $ 13 |
Loans (Summary Of Past Due Loan
Loans (Summary Of Past Due Loans, Nonaccrual Loans And Current Loans By Loan Segment And Class) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | $ 5,052 | $ 3,114 | |
Total Past Due and Nonaccrual | 7,434 | 7,107 | |
Current | 1,392,330 | 1,263,664 | |
Total Loans | 1,399,764 | 1,270,771 | $ 1,123,211 |
30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 1,944 | 2,646 | |
60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 362 | 614 | |
Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 76 | 733 | |
Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 4,212 | 2,770 | |
Total Past Due and Nonaccrual | 5,657 | 5,836 | |
Current | 1,192,173 | 1,067,528 | |
Total Loans | 1,197,830 | 1,073,364 | 936,414 |
Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 1,165 | 2,257 | |
Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 280 | 311 | |
Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 498 | |
Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 840 | 344 | |
Total Past Due and Nonaccrual | 1,777 | 1,271 | |
Current | 200,157 | 196,136 | |
Total Loans | 201,934 | 197,407 | 186,797 |
Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 779 | 389 | |
Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 82 | 303 | |
Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 76 | 235 | |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 2,092 | 384 | |
Total Past Due and Nonaccrual | 2,733 | 1,840 | |
Current | 181,669 | 146,795 | |
Total Loans | 184,402 | 148,635 | 133,978 |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 615 | 1,456 | |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 26 | 0 | |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 1,306 | 0 | |
Total Past Due and Nonaccrual | 1,306 | 601 | |
Current | 229,521 | 243,022 | |
Total Loans | 230,827 | 243,623 | 191,994 |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 392 | |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 209 | |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Residential Real Estate Investor [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 499 | 837 | |
Total Past Due and Nonaccrual | 846 | 1,008 | |
Current | 208,568 | 182,615 | |
Total Loans | 209,414 | 183,623 | 161,144 |
Residential Real Estate Investor [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 347 | 171 | |
Residential Real Estate Investor [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Residential Real Estate Investor [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 0 | 361 | |
Total Past Due and Nonaccrual | 0 | 361 | |
Current | 63,195 | 81,724 | |
Total Loans | 63,195 | 82,085 | 84,171 |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 0 | 0 | |
Total Past Due and Nonaccrual | 0 | 0 | |
Current | 103,040 | 88,062 | |
Total Loans | 103,040 | 88,062 | 77,694 |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Manufacturing [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 0 | 0 | |
Total Past Due and Nonaccrual | 0 | 0 | |
Current | 62,510 | 32,616 | |
Total Loans | 62,510 | 32,616 | 30,325 |
Manufacturing [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Manufacturing [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Manufacturing [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Agriculture [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 315 | 929 | |
Total Past Due and Nonaccrual | 452 | 929 | |
Current | 59,479 | 50,919 | |
Total Loans | 59,931 | 51,848 | 41,217 |
Agriculture [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Agriculture [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 137 | 0 | |
Agriculture [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Residential Mortgages [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 162 | 57 | |
Total Past Due and Nonaccrual | 693 | 180 | |
Current | 78,632 | 73,316 | |
Total Loans | 79,325 | 73,496 | 70,094 |
Residential Mortgages [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 392 | 55 | |
Residential Mortgages [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 72 | 0 | |
Residential Mortgages [Member] | Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 67 | 68 | |
Home Equity [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 452 | 244 | |
Total Past Due and Nonaccrual | 721 | 623 | |
Current | 97,229 | 93,599 | |
Total Loans | 97,950 | 94,222 | 86,408 |
Home Equity [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 264 | 203 | |
Home Equity [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 5 | 176 | |
Home Equity [Member] | Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Other [Member] | Total Commercial Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 0 | 259 | |
Total Past Due and Nonaccrual | 320 | 1,097 | |
Current | 284,191 | 241,775 | |
Total Loans | 284,511 | 242,872 | 215,891 |
Other [Member] | Total Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 203 | 238 | |
Other [Member] | Total Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 117 | 102 | |
Other [Member] | Total Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 498 | |
Other [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 226 | 43 | |
Total Past Due and Nonaccrual | 363 | 468 | |
Current | 24,296 | 29,221 | |
Total Loans | 24,659 | 29,689 | $ 30,295 |
Other [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 123 | 131 | |
Other [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 5 | 127 | |
Other [Member] | Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | $ 9 | $ 167 |
Allowance For Loan Losses (Summ
Allowance For Loan Losses (Summary Of Allowance For Loan Losses By Loan Segment And Class) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | $ 14,992 | $ 12,704 | $ 14,992 | $ 12,704 | $ 11,162 | ||||||
Charge-offs | (2,637) | (966) | (2,025) | ||||||||
Recoveries | 159 | 254 | 67 | ||||||||
Provision | $ 600 | $ 2,100 | $ 825 | 650 | $ 600 | $ 800 | $ 800 | 800 | 4,175 | 3,000 | 3,500 |
Ending Balance | 16,689 | 14,992 | 16,689 | 14,992 | 12,704 | ||||||
Total Commercial Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 12,774 | 10,735 | 12,774 | 10,735 | 9,370 | ||||||
Charge-offs | (2,332) | (771) | (1,648) | ||||||||
Recoveries | 131 | 193 | 21 | ||||||||
Provision | 3,545 | 2,617 | 2,992 | ||||||||
Ending Balance | 14,118 | 12,774 | 14,118 | 12,774 | 10,735 | ||||||
Total Consumer Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 457 | 489 | 457 | 489 | 456 | ||||||
Charge-offs | (305) | (195) | (377) | ||||||||
Recoveries | 28 | 61 | 46 | ||||||||
Provision | 211 | 102 | 364 | ||||||||
Ending Balance | 391 | 457 | 391 | 457 | 489 | ||||||
Unallocated [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 1,761 | 1,480 | 1,761 | 1,480 | 1,336 | ||||||
Charge-offs | 0 | 0 | 0 | ||||||||
Recoveries | 0 | 0 | 0 | ||||||||
Provision | 419 | 281 | 144 | ||||||||
Ending Balance | 2,180 | 1,761 | 2,180 | 1,761 | 1,480 | ||||||
Builder & Developer [Member] | Total Commercial Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 2,384 | 1,934 | 2,384 | 1,934 | 2,236 | ||||||
Charge-offs | (1,674) | (85) | (497) | ||||||||
Recoveries | 32 | 3 | 0 | ||||||||
Provision | 2,646 | 532 | 195 | ||||||||
Ending Balance | 3,388 | 2,384 | 3,388 | 2,384 | 1,934 | ||||||
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 2,870 | 2,337 | 2,870 | 2,337 | 2,204 | ||||||
Charge-offs | 0 | 0 | 0 | ||||||||
Recoveries | 0 | 0 | 0 | ||||||||
Provision | 143 | 533 | 133 | ||||||||
Ending Balance | 3,013 | 2,870 | 3,013 | 2,870 | 2,337 | ||||||
Residential Real Estate Investor [Member] | Total Commercial Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 2,517 | 2,101 | 2,517 | 2,101 | 1,484 | ||||||
Charge-offs | (518) | (487) | (709) | ||||||||
Recoveries | 62 | 187 | 2 | ||||||||
Provision | 444 | 716 | 1,324 | ||||||||
Ending Balance | 2,505 | 2,517 | 2,505 | 2,517 | 2,101 | ||||||
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 807 | 837 | 807 | 837 | 671 | ||||||
Charge-offs | (36) | 0 | 0 | ||||||||
Recoveries | 36 | 0 | 0 | ||||||||
Provision | (170) | (30) | 166 | ||||||||
Ending Balance | 637 | 807 | 637 | 807 | 837 | ||||||
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 803 | 701 | 803 | 701 | 691 | ||||||
Charge-offs | 0 | 0 | 0 | ||||||||
Recoveries | 1 | 3 | 19 | ||||||||
Provision | 105 | 99 | (9) | ||||||||
Ending Balance | 909 | 803 | 909 | 803 | 701 | ||||||
Manufacturing [Member] | Total Commercial Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 307 | 223 | 307 | 223 | 201 | ||||||
Charge-offs | 0 | (140) | 0 | ||||||||
Recoveries | 0 | 0 | 0 | ||||||||
Provision | 285 | 224 | 22 | ||||||||
Ending Balance | 592 | 307 | 592 | 307 | 223 | ||||||
Agriculture [Member] | Total Commercial Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 619 | 548 | 619 | 548 | 329 | ||||||
Charge-offs | 0 | 0 | 0 | ||||||||
Recoveries | 0 | 0 | 0 | ||||||||
Provision | (188) | 71 | 219 | ||||||||
Ending Balance | 431 | 619 | 431 | 619 | 548 | ||||||
Residential Mortgages [Member] | Total Consumer Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 85 | 67 | 85 | 67 | 64 | ||||||
Charge-offs | 0 | (79) | (40) | ||||||||
Recoveries | 5 | 1 | 21 | ||||||||
Provision | 18 | 96 | 22 | ||||||||
Ending Balance | 108 | 85 | 108 | 85 | 67 | ||||||
Home Equity [Member] | Total Consumer Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 179 | 161 | 179 | 161 | 176 | ||||||
Charge-offs | (223) | 0 | (40) | ||||||||
Recoveries | 0 | 0 | 0 | ||||||||
Provision | 261 | 18 | 25 | ||||||||
Ending Balance | 217 | 179 | 217 | 179 | 161 | ||||||
Other [Member] | Total Commercial Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | 2,467 | 2,054 | 2,467 | 2,054 | 1,554 | ||||||
Charge-offs | (104) | (59) | (442) | ||||||||
Recoveries | 0 | 0 | 0 | ||||||||
Provision | 280 | 472 | 942 | ||||||||
Ending Balance | 2,643 | 2,467 | 2,643 | 2,467 | 2,054 | ||||||
Other [Member] | Total Consumer Related Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning Balance | $ 193 | $ 261 | 193 | 261 | 216 | ||||||
Charge-offs | (82) | (116) | (297) | ||||||||
Recoveries | 23 | 60 | 25 | ||||||||
Provision | (68) | (12) | 317 | ||||||||
Ending Balance | $ 66 | $ 193 | $ 66 | $ 193 | $ 261 |
Allowance For Loan Losses (Su64
Allowance For Loan Losses (Summary Of Allowance Amount For Loans Individually And Collectively Evaluated For Impairment) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | $ 243 | $ 681 | $ 405 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 16,446 | 14,311 | 12,299 | |
Allowance for Loan Losses, Balance | 16,689 | 14,992 | 12,704 | $ 11,162 |
Loans, Individually Evaluated For Impairment | 23,447 | 15,353 | 15,915 | |
Loans, Collectively Evaluated For Impairment | 1,376,317 | 1,255,418 | 1,107,296 | |
Loans, Balance | 1,399,764 | 1,270,771 | 1,123,211 | |
Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 243 | 681 | 405 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 13,875 | 12,093 | 10,330 | |
Allowance for Loan Losses, Balance | 14,118 | 12,774 | 10,735 | 9,370 |
Loans, Individually Evaluated For Impairment | 22,513 | 14,795 | 15,302 | |
Loans, Collectively Evaluated For Impairment | 1,175,317 | 1,058,569 | 921,112 | |
Loans, Balance | 1,197,830 | 1,073,364 | 936,414 | |
Total Consumer Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 391 | 457 | 489 | |
Allowance for Loan Losses, Balance | 391 | 457 | 489 | 456 |
Loans, Individually Evaluated For Impairment | 934 | 558 | 613 | |
Loans, Collectively Evaluated For Impairment | 201,000 | 196,849 | 186,184 | |
Loans, Balance | 201,934 | 197,407 | 186,797 | |
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,180 | 1,761 | 1,480 | |
Allowance for Loan Losses, Balance | 2,180 | 1,761 | 1,480 | 1,336 |
Builder & Developer [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 200 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 3,388 | 2,184 | 1,934 | |
Allowance for Loan Losses, Balance | 3,388 | 2,384 | 1,934 | 2,236 |
Loans, Individually Evaluated For Impairment | 2,673 | 3,892 | 4,284 | |
Loans, Collectively Evaluated For Impairment | 181,729 | 144,743 | 129,694 | |
Loans, Balance | 184,402 | 148,635 | 133,978 | |
Commercial Real Estate Investor [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 243 | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,770 | 2,870 | 2,337 | |
Allowance for Loan Losses, Balance | 3,013 | 2,870 | 2,337 | 2,204 |
Loans, Individually Evaluated For Impairment | 5,645 | 5,893 | 5,977 | |
Loans, Collectively Evaluated For Impairment | 225,182 | 237,730 | 186,017 | |
Loans, Balance | 230,827 | 243,623 | 191,994 | |
Residential Real Estate Investor [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 136 | 142 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,505 | 2,381 | 1,959 | |
Allowance for Loan Losses, Balance | 2,505 | 2,517 | 2,101 | 1,484 |
Loans, Individually Evaluated For Impairment | 1,210 | 1,703 | 1,471 | |
Loans, Collectively Evaluated For Impairment | 208,204 | 181,920 | 159,673 | |
Loans, Balance | 209,414 | 183,623 | 161,144 | |
Hotel/Motel [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 637 | 807 | 837 | |
Allowance for Loan Losses, Balance | 637 | 807 | 837 | 671 |
Loans, Individually Evaluated For Impairment | 0 | 361 | 420 | |
Loans, Collectively Evaluated For Impairment | 63,195 | 81,724 | 83,751 | |
Loans, Balance | 63,195 | 82,085 | 84,171 | |
Wholesale & Retail [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 909 | 803 | 701 | |
Allowance for Loan Losses, Balance | 909 | 803 | 701 | 691 |
Loans, Individually Evaluated For Impairment | 7,912 | 260 | 309 | |
Loans, Collectively Evaluated For Impairment | 95,128 | 87,802 | 77,385 | |
Loans, Balance | 103,040 | 88,062 | 77,694 | |
Manufacturing [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 592 | 307 | 223 | |
Allowance for Loan Losses, Balance | 592 | 307 | 223 | 201 |
Loans, Individually Evaluated For Impairment | 3,840 | 613 | 630 | |
Loans, Collectively Evaluated For Impairment | 58,670 | 32,003 | 29,695 | |
Loans, Balance | 62,510 | 32,616 | 30,325 | |
Agriculture [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 263 | 263 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 431 | 356 | 285 | |
Allowance for Loan Losses, Balance | 431 | 619 | 548 | 329 |
Loans, Individually Evaluated For Impairment | 315 | 929 | 422 | |
Loans, Collectively Evaluated For Impairment | 59,616 | 50,919 | 40,795 | |
Loans, Balance | 59,931 | 51,848 | 41,217 | |
Residential Mortgages [Member] | Total Consumer Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 108 | 85 | 67 | |
Allowance for Loan Losses, Balance | 108 | 85 | 67 | 64 |
Loans, Individually Evaluated For Impairment | 247 | 142 | 164 | |
Loans, Collectively Evaluated For Impairment | 79,078 | 73,354 | 69,930 | |
Loans, Balance | 79,325 | 73,496 | 70,094 | |
Home Equity [Member] | Total Consumer Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 217 | 179 | 161 | |
Allowance for Loan Losses, Balance | 217 | 179 | 161 | 176 |
Loans, Individually Evaluated For Impairment | 452 | 244 | 202 | |
Loans, Collectively Evaluated For Impairment | 97,498 | 93,978 | 86,206 | |
Loans, Balance | 97,950 | 94,222 | 86,408 | |
Other [Member] | Total Commercial Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 82 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,643 | 2,385 | 2,054 | |
Allowance for Loan Losses, Balance | 2,643 | 2,467 | 2,054 | 1,554 |
Loans, Individually Evaluated For Impairment | 918 | 1,144 | 1,789 | |
Loans, Collectively Evaluated For Impairment | 283,593 | 241,728 | 214,102 | |
Loans, Balance | 284,511 | 242,872 | 215,891 | |
Other [Member] | Total Consumer Related Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 66 | 193 | 261 | |
Allowance for Loan Losses, Balance | 66 | 193 | 261 | $ 216 |
Loans, Individually Evaluated For Impairment | 235 | 172 | 247 | |
Loans, Collectively Evaluated For Impairment | 24,424 | 29,517 | 30,048 | |
Loans, Balance | $ 24,659 | $ 29,689 | $ 30,295 |
Premises And Equipment (Summary
Premises And Equipment (Summary Of Premises And Equipment) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Premises And Equipment [Abstract] | |||
Land | $ 4,543 | $ 4,521 | |
Buildings and improvements | 25,371 | 24,560 | |
Equipment | 20,057 | 18,796 | |
Premises and equipment, Total | 49,971 | 47,877 | |
Less accumulated depreciation/amortization | (25,589) | (23,304) | |
Premises and equipment, net | 24,382 | 24,573 | |
Operating lease expenses | $ 796 | $ 762 | $ 788 |
Premises And Equipment (Schedul
Premises And Equipment (Schedule Of Future Minimum Lease Payments) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Premises And Equipment [Abstract] | |
Future minimum lease payments, 2018 | $ 763 |
Future minimum lease payments, 2019 | 610 |
Future minimum lease payments, 2020 | 388 |
Future minimum lease payments, 2021 | 255 |
Future minimum lease payments, 2022 | 134 |
Future minimum lease payments, Thereafter | 183 |
Total future minimum lease payments | $ 2,333 |
Deposits (Schedule Of Compositi
Deposits (Schedule Of Composition Of Deposits) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Noninterest bearing demand | $ 246,866 | $ 202,639 |
Interest bearing demand | 157,903 | 130,394 |
Money market | 447,425 | 425,874 |
Savings | 86,292 | 78,585 |
Time deposits less than $100,000 | 260,482 | 242,778 |
Time deposits $100,000 to $250,000 | 135,242 | 134,811 |
Time deposits $250,000 or more | 50,297 | 49,096 |
Total deposits | 1,384,507 | 1,264,177 |
Board of Directors, Executive Officers, Principal Shareholders and Any Affiliates [Member] | ||
Total deposits | $ 4,319 | $ 1,440 |
Deposits (Scheduled Maturities
Deposits (Scheduled Maturities Of Time Deposits) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Deposits | |
2,018 | $ 190,146 |
2,019 | 118,117 |
2,020 | 65,335 |
2,021 | 49,204 |
2,022 | 22,544 |
Thereafter | 675 |
Total time deposits | $ 446,021 |
Short-Term Borrowings And Lon69
Short-Term Borrowings And Long-Term Debt (Narrative) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2006 | Nov. 30, 2004 | Dec. 31, 2017 | Dec. 31, 2016 | |
CVB Statutory Trust No. 2 [Member] | ||||
Pooled trust preferred debt issuance | $ 7,217,000 | |||
CVB Statutory Trust No. 1 [Member] | ||||
Pooled trust preferred debt issuance | $ 3,093,000 | |||
Estimated Fair Value [Member] | ||||
Available-for-sale securities pledged as collateral | $ 16,542,000 | $ 33,795,000 | ||
Federal Funds [Member] | ||||
Total availability of other borrowings | 13,000,000 | |||
Line Of Credit [Member] | ||||
Line of credit | 3,000,000 | 3,000,000 | ||
Line of credit draws | 0 | 0 | ||
Line of credit balance | 0 | 0 | ||
FHLBP [Member] | Federal Home Loan Bank [Member] | Municipal Deposit Letter Of Credits [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||||
Total availability of other borrowings | 42,000,000 | $ 0 | ||
FHLBP [Member] | Revolving Line Of Credit [Member] | ||||
Total availability of other borrowings | $ 346,889,150 | |||
Line of credit term | 364 days |
Short-term Borrowings And Lon70
Short-term Borrowings And Long-Term Debt (Summary Of Aggregate Short-term Borrowings) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Short-term Debt [Line Items] | |||
Short-term borrowings, Amount outstanding at end of year | $ 20,495 | $ 56,637 | |
Repurchase Agreements [Member] | |||
Short-term Debt [Line Items] | |||
Short-term borrowings, Amount outstanding at end of year | $ 10,295 | $ 23,637 | $ 74,510 |
Short-term borrowings, Weighted average interest rate at end of year | 0.56% | 0.47% | 0.48% |
Short-term borrowings, Maximum amount outstanding at any month-end | $ 28,596 | $ 36,231 | $ 74,510 |
Short-term borrowings, Daily average amount outstanding | $ 22,078 | $ 27,677 | $ 39,449 |
Short-term borrowings, Approximate weighted average interest rate for the year | 0.56% | 0.50% | 0.49% |
Other Short-Term Borrowings [Member] | |||
Short-term Debt [Line Items] | |||
Short-term borrowings, Amount outstanding at end of year | $ 10,200 | $ 33,000 | $ 0 |
Short-term borrowings, Weighted average interest rate at end of year | 1.55% | 0.94% | 0.00% |
Short-term borrowings, Maximum amount outstanding at any month-end | $ 30,000 | $ 33,000 | $ 9,459 |
Short-term borrowings, Daily average amount outstanding | $ 16,910 | $ 3,452 | $ 200 |
Short-term borrowings, Approximate weighted average interest rate for the year | 1.14% | 0.66% | 0.33% |
Short-Term Borrowings And Lon71
Short-Term Borrowings And Long-Term Debt (Summary Of Long-Term Debt) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | ||
Total long-term debt | $ 130,310 | $ 125,310 |
FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 120,000 | 115,000 |
Due April 2017, 0.97% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 0 | 10,000 |
FHLBP due date | 2017-04 | |
Interest rate | 0.97% | |
Due November 2017, 1.19% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 0 | 5,000 |
FHLBP due date | 2017-11 | |
Interest rate | 1.19% | |
Due March 2018, 1.17% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 10,000 | 10,000 |
FHLBP due date | 2018-03 | |
Interest rate | 1.17% | |
Due June 2018, 1.87% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 5,000 | 5,000 |
FHLBP due date | 2018-06 | |
Interest rate | 1.87% | |
Due June 2018, 1.41% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 10,000 | 10,000 |
FHLBP due date | 2018-06 | |
Interest rate | 1.41% | |
Due November 2018, 1.62% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 5,000 | 5,000 |
FHLBP due date | 2018-11 | |
Interest rate | 1.62% | |
Due December 2018, 1.60% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 15,000 | 15,000 |
FHLBP due date | 2018-12 | |
Interest rate | 1.60% | |
Due April 2019, 1.64% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 10,000 | 0 |
FHLBP due date | 2019-04 | |
Interest rate | 1.64% | |
Due June 2019, 1.64% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 5,000 | 5,000 |
FHLBP due date | 2019-06 | |
Interest rate | 1.64% | |
Due June 2019, 2.10% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 5,000 | 5,000 |
FHLBP due date | 2019-06 | |
Interest rate | 2.10% | |
Due December 2019, 1.89% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 15,000 | 15,000 |
FHLBP due date | 2019-12 | |
Interest rate | 1.89% | |
Due March 2020, 1.86% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 10,000 | 0 |
FHLBP due date | 2020-03 | |
Interest rate | 1.86% | |
Due June 2020, 1.87% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 15,000 | 15,000 |
FHLBP due date | 2020-06 | |
Interest rate | 1.87% | |
Due June 2021, 2.14% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 15,000 | 15,000 |
FHLBP due date | 2021-06 | |
Interest rate | 2.14% | |
Due 2034, 3.61%, floating rate based on 3 month LIBOR plus 2.02%, callable quarterly | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 3,093 | 3,093 |
Interest rate | 3.61% | |
Long-term debt year due | 2,034 | |
Due 2034, 3.61%, floating rate based on 3 month LIBOR plus 2.02%, callable quarterly | LIBOR [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
3 month LIBOR plus rate | 2.02% | |
Due 2036, 2.90% floating rate based on 3 month LIBOR plus 1.54%, callable quarterly | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 7,217 | $ 7,217 |
Interest rate | 2.90% | |
Long-term debt year due | 2,036 | |
Due 2036, 2.90% floating rate based on 3 month LIBOR plus 1.54%, callable quarterly | LIBOR [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
3 month LIBOR plus rate | 1.54% |
Short-Term Borrowings And Lon72
Short-Term Borrowings And Long-Term Debt (Summary Of Long-Term Debt Maturities) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Short-Term Borrowings And Long-Term Debt [Abstract] | ||
Long-term debt maturities, 2018 | $ 45,000 | |
Long-term debt maturities, 2019 | 35,000 | |
Long-term debt maturities, 2020 | 25,000 | |
Long-term debt maturities, 2021 | 15,000 | |
Long-term debt maturities, Thereafter | 10,310 | |
Total long-term debt | $ 130,310 | $ 125,310 |
Regulatory Matters (Schedule Of
Regulatory Matters (Schedule Of Risk-Based Capital Ratios And Leverage Ratios) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Loans and advances by PeoplesBank to affiliates threshold | 10.00% | ||
Common equity Tier 1, Actual, Amount | $ 162,860 | $ 153,762 | |
Common equity Tier 1, Minimum for Capital Adequacy, Amount | [1] | $ 80,842 | $ 66,320 |
Common equity Tier 1, Actual, Ratio | 11.58% | 11.88% | |
Common equity Tier 1, Minimum for Capital Adequacy, Ratio | [1] | 5.75% | 5.125% |
Tier 1 risk based, Actual, Amount | $ 172,860 | $ 163,762 | |
Tier 1 risk based, Minimum for Capital Adequacy, Amount | [1] | $ 101,932 | $ 85,731 |
Tier 1 risk based, Actual, Ratio | 12.29% | 12.66% | |
Tier 1 risk based, Minimum for Capital Adequacy, Ratio | [1] | 7.25% | 6.625% |
Total risk based, Actual, Amount | $ 189,549 | $ 178,754 | |
Total risk based, Minimum for Capital Adequacy, Amount | [1] | $ 130,051 | $ 111,611 |
Total risk based, Actual, Ratio | 13.48% | 13.81% | |
Total risk based, Minimum for Capital Adequacy, Ratio | [1] | 9.25% | 8.625% |
Leverage, Actual, Amount | $ 172,860 | $ 163,762 | |
Leverage, Minimum for Capital Adequacy, Amount | [1] | $ 67,382 | $ 60,870 |
Leverage, Actual, Ratio | 10.26% | 10.76% | |
Leverage, Minimum for Capital Adequacy, Ratio | [1] | 4.00% | 4.00% |
PeoplesBank, A Codorus Valley Company [Member] | |||
Common equity Tier 1, Actual, Amount | $ 168,879 | $ 159,832 | |
Common equity Tier 1, Minimum for Capital Adequacy, Amount | [1] | 80,630 | 66,151 |
Common equity Tier 1, Well Capitalized Minimum, Amount | [2] | $ 91,147 | $ 83,899 |
Common equity Tier 1, Actual, Ratio | 12.04% | 12.38% | |
Common equity Tier 1, Minimum for Capital Adequacy, Ratio | [1] | 5.75% | 5.125% |
Common equity Tier 1, Well Capitalized Minimum, Ratio | [2] | 6.50% | 6.50% |
Tier 1 risk based, Actual, Amount | $ 168,879 | $ 159,832 | |
Tier 1 risk based, Minimum for Capital Adequacy, Amount | [1] | 101,664 | 85,513 |
Tier 1 risk based, Well Capitalized Minimum, Amount | [2] | $ 112,181 | $ 103,260 |
Tier 1 risk based, Actual, Ratio | 12.04% | 12.38% | |
Tier 1 risk based, Minimum for Capital Adequacy, Ratio | [1] | 7.25% | 6.625% |
Tier 1 risk based, Well Capitalized Minimum, Ratio | [2] | 8.00% | 8.00% |
Total risk based, Actual, Amount | $ 185,568 | $ 174,824 | |
Total risk based, Minimum for Capital Adequacy, Amount | [1] | 129,709 | 111,328 |
Total risk based, Well Capitalized Minimum, Amount | [2] | $ 140,226 | $ 129,076 |
Total risk based, Actual, Ratio | 13.23% | 13.54% | |
Total risk based, Minimum for Capital Adequacy, Ratio | [1] | 9.25% | 8.625% |
Total risk based, Well Capitalized Minimum, Ratio | [2] | 10.00% | 10.00% |
Leverage, Actual, Amount | $ 168,879 | $ 159,832 | |
Leverage, Minimum for Capital Adequacy, Amount | [1] | 67,234 | 60,723 |
Leverage, Well Capitalized Minimum, Amount | [2] | $ 84,043 | $ 75,903 |
Leverage, Actual, Ratio | 10.05% | 10.53% | |
Leverage, Minimum for Capital Adequacy, Ratio | [1] | 4.00% | 4.00% |
Leverage, Well Capitalized Minimum, Ratio | [2] | 5.00% | 5.00% |
[1] | Minimum amounts and ratios as of December 31, 2017 include the second year phase in of the capital conservation buffer of 1.25 percent required by the Basel III framework. At December 31, 2016, the minimum amounts and ratios included the first year phase in of the capital conservation buffer of 0.625 percent required by the Basel III framework. The conservation buffer is to be phased in over a four year period beginning January 1, 2016, with the full 2.5 percent required as of January 1, 2019. | ||
[2] | To be "well capitalized" under the prompt corrective action provisions in the Basel III framework. "Well capitalized" applies to PeoplesBank only. |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands | Dec. 12, 2017 | Dec. 13, 2016 | Dec. 23, 2015 | Dec. 15, 2015 | May 30, 2014 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Feb. 18, 2016 | Dec. 31, 2014 | Aug. 31, 2011 |
Class of Stock [Line Items] | |||||||||||
Common stock, par value | $ 2.50 | $ 2.50 | |||||||||
Gross proceeds from share issuances | $ 751 | $ 853 | $ 33,614 | ||||||||
Preferred stock, aggregate purchase price of shares sold to Treasury | $ 0 | $ 0 | |||||||||
Preferred stock, dividend rate | 1.00% | ||||||||||
Common stock dividend rate | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | ||||||
Common stock dividend additional common shares | 422,439 | 398,541 | 422,439 | 398,541 | 294,161 | ||||||
Public Offering [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
New shares issued in public offering | 227,850 | 1,519,000 | 1,746,850 | ||||||||
New shares price per share | $ 19.75 | $ 19.75 | |||||||||
Net proceeds from issuance of public offering | $ 32,500 | ||||||||||
Gross proceeds from share issuances | 34,500 | ||||||||||
Issuance costs | 2,000 | ||||||||||
Investment in subsidiary | $ 19,800 | ||||||||||
Series B Preferred Stock [Member] | |||||||||||
Class of Stock [Line Items] | |||||||||||
Preferred stock, redemption price | $ 12,000 | ||||||||||
Preferred stock, amount outstanding | $ 12,000 | ||||||||||
Preferred stock, aggregate purchase price of shares sold to Treasury | $ 25,000 | ||||||||||
Preferred stock, shares sold to Treasury | 0 | 0 | 25,000 | ||||||||
Preferred stock, liquidation value | $ 1,000 | $ 1,000 | $ 1,000 | ||||||||
Preferred stock par value | $ 2.50 | $ 2.50 | $ 2.50 | ||||||||
Preferred stock, redemption shares | 13,000 | ||||||||||
Preferred stock, shares outstanding | 25,000 | 0 | 0 | 12,000 |
Benefit Plans (Details)
Benefit Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
401(K) Savings and Investment Plan [Member] | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Company contribution of specific percentage of employee compensation contributed | 100.00% | 100.00% | 100.00% |
Percent of contribution eligible for match | 4.00% | 4.00% | 4.00% |
Expense for the 401(k) savings and investment plan | $ 587 | $ 522 | $ 461 |
Supplemental Benefit Plans [Member] | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Benefit plans expense | 256 | 255 | 170 |
Benefit plans accrued liability | 4,063 | 3,993 | |
Director's Post Retirement Split-Dollar Life Insurance Benefit [Member] | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Benefit plans expense | 39 | 104 | $ 3 |
Benefit plans accrued liability | $ 401 | $ 363 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Statutory Federal tax rate | 35.00% | 35.00% | 35.00% |
Total unrecognized compensation cost | $ 709 | ||
Nonvested awards compensation cost expected to be recognized in 2018 | 465 | ||
Nonvested awards compensation cost expected to be recognized in 2019 | 183 | ||
Nonvested awards compensation cost expected to be recognized in 2020 | 55 | ||
Nonvested awards compensation cost expected to be recognized in 2021 | $ 6 | ||
Cost expected to be recognized, weighted average period, years | 1 year | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock awards granted | 15,719 | 20,837 | 17,558 |
2000 Stock Incentive Plan, 2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||
2000 Stock Incentive Plan, 2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | 2015 Grant Date One [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock awards granted | 15,290 | ||
2000 Stock Incentive Plan, 2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | 2015 Grant Date One [Member] | Restricted Stock [Member] | First Year [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of shares vesting | 33.33% | ||
2000 Stock Incentive Plan, 2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | 2015 Grant Date One [Member] | Restricted Stock [Member] | Second Year [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of shares vesting | 33.33% | ||
2000 Stock Incentive Plan, 2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | 2015 Grant Date One [Member] | Restricted Stock [Member] | Third Year [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of shares vesting | 33.33% | ||
2000 Stock Incentive Plan, 2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | 2015 Grant Date Two [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock awards granted | 2,268 | ||
2000 Stock Incentive Plan, 2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | 2015 Grant Date Two [Member] | Restricted Stock [Member] | First Year [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of shares vesting | 0.00% | 0.00% | |
2000 Stock Incentive Plan, 2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | 2015 Grant Date Two [Member] | Restricted Stock [Member] | Second Year [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of shares vesting | 50.00% | 50.00% | |
2000 Stock Incentive Plan, 2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | 2015 Grant Date Two [Member] | Restricted Stock [Member] | Third Year [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage of shares vesting | 50.00% | 50.00% | |
2007 Employee Stock Purchase Plan (ESPP) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock purchase price as a percentage of fair market value | 85.00% | 85.00% | 85.00% |
Employee Stock Bonus Plan (ESBP) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares of stock issued | 0 | 0 | 0 |
Minimum [Member] | 2000 Stock Incentive Plan, 2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 6 months |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule Of Share Based Compensation Stock Plans) (Details) | Dec. 31, 2017shares | |
2000 Stock Incentive Plan (2000 Plan) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares reserved | 8,568 | [1],[2] |
Number of outstanding options | 8,568 | [1],[2] |
2007 Long Term Incentive Plan (LTIP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares reserved | 203,058 | [2],[3] |
Number of outstanding options | 203,058 | [2],[3],[4] |
Unvested options | 25,923 | |
2017 Long Term Incentive Plan (17LTIP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares reserved | 355,783 | [2] |
Number of outstanding options | 16,272 | [2],[5] |
Number of shares available for future issuance | 339,511 | |
2007 Employee Stock Purchase Plan (ESPP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares reserved | 170,455 | [2] |
Number of outstanding options | 0 | [2] |
Number of shares available for future issuance | 170,455 | |
Employee Stock Bonus Plan (ESBP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares reserved | 19,153 | [2] |
Number of outstanding options | 0 | [2] |
Number of shares available for future issuance | 19,153 | |
[1] | Plan expired on March 28, 2010. | |
[2] | Shares/options are subject to adjustment in the event of specified changes in the Corporation's capital structure. | |
[3] | Plan expired on May 15, 2017. | |
[4] | Amount includes 25,923 of unvested options. | |
[5] | All are unvested options. |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary Of Compensation Expense And Related Tax Benefits For Stock Option And Restricted Stock Awards) (Details) - Stock Option And Restricted Stock Awards [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation expense | $ 693 | $ 491 | $ 325 |
Tax benefit | (243) | (164) | (78) |
Net income effect | $ 450 | $ 327 | $ 247 |
Stock-Based Compensation (Grant
Stock-Based Compensation (Granted Stock Options And Restricted Stock Awards) (Details) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Non-Qualified Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options granted | 16,272 | 21,723 | 70,184 |
Incentive Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options granted | 0 | 0 | 5,185 |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock awards granted | 15,719 | 20,837 | 17,558 |
Stock Award [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock awards granted | 9,065 | 0 | 0 |
Stock-Based Compensation (Sch80
Stock-Based Compensation (Schedule Of Weighted-Average Assumptions For Fair Value Of Stock Options Granted) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Stock-Based Compensation [Abstract] | |||
Fair value | $ 6.04 | $ 3.64 | $ 4.22 |
Expected life (in years) | 5 years 3 months 18 days | 4 years 6 months | 5 years 2 months 12 days |
Risk-free interest rate | 2.19% | 1.57% | 1.64% |
Expected volatility | 24.82% | 24.31% | 28.22% |
Expected dividend yield | 1.86% | 2.42% | 2.59% |
Stock-Based Compensation (Sum81
Stock-Based Compensation (Summary Of Stock Options Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options, Exercised | (11,857) | (27,510) | (45,783) |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options, Outstanding, Beginning Balance | 228,237 | ||
Options, Granted | 16,272 | ||
Options, Exercised | (12,427) | ||
Options, Cancelled/Forfeited | (4,184) | ||
Options, Outstanding, Ending Balance | 227,898 | 228,237 | |
Options, Vested and Exercisable | 185,703 | ||
Options, Vested and Non-Vested, Expected to Vest | 227,898 | ||
Weighted Average Exercise Price Per Share, Outstanding, Beginning Balance | $ 13.83 | ||
Weighted Average Exercise Price Per Share, Granted | 28.86 | ||
Weighted Average Exercise Price Per Share, Exercised | 15.67 | ||
Weighted Average Exercise Price Per Share, Cancelled/Forfeited | 19.50 | ||
Weighted Average Exercise Price Per Share, Outstanding, Ending Balance | 14.70 | $ 13.83 | |
Weighted Average Exercise Price Per Share, Vested and Exercisable | 12.74 | ||
Weighted Average Exercise Price Per Share, Vested and Non-Vested, Expected to Vest | $ 14.70 | ||
Weighted Average Remaining Contractual Term, Outstanding | 6 years | 6 years 9 months 18 days | |
Weighted Average Remaining Contractual Term, Vested and Exercisable | 5 years 3 months 18 days | ||
Weighted Average Remaining Contractual Term, Vested and Exercisable, Vested and Non-Vested, Expected to Vest | 6 years | ||
Aggregate Intrinsic Value, Outstanding | $ 2,946 | $ 3,061 | |
Aggregate Intrinsic Value, Vested and Exercisable | 2,746 | ||
Aggregate Intrinsic Value, Vested and Non-Vested, Expected to Vest | $ 2,946 |
Stock-Based Compensation (Sum82
Stock-Based Compensation (Summary Of Stock Options Exercised) (Details) - Stock Options [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total intrinsic value of options exercised | $ 142 | $ 338 | $ 481 |
Cash received from options exercised | 195 | 364 | 475 |
Tax deduction realized from options exercised | $ 50 | $ 113 | $ 154 |
Stock-Based Compensation (Sum83
Stock-Based Compensation (Summary Of Non-Vested Options And Restricted Stock) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Non-vested Options, Beginning Balance | 48,943 | ||
Non-vested Options, Vested | (18,836) | ||
Non-vested Options, Cancelled/Forfeited | (4,184) | ||
Non-vested Options, Granted | 16,272 | ||
Non-vested Options, Ending Balance | 42,195 | 48,943 | |
Non-vested Options, Weighted Average Exercise Price Per Share, Beginning Balance | $ 19.66 | ||
Non-vested Options, Weighted Average Exercise Price Per Share, Vested | 19.52 | ||
Non-vested Options, Weighted Average Exercise Price Per Share, Cancelled/Forfeited | 19.50 | ||
Non-vested Options, Weighted Average Exercise Price Per Share, Granted | 28.86 | ||
Non-vested Options, Weighted Average Exercise Price Per Share, Ending Balance | $ 23.28 | $ 19.66 | |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Non-vested Restricted Stock, Shares, Beginning Balance | 38,552 | ||
Non-vested Restricted Stock, Shares, Vested | (16,989) | ||
Non-vested Restricted Stock, Shares, Cancelled | (1,587) | ||
Non-vested Restricted Stock, Shares, Granted | 15,719 | 20,837 | 17,558 |
Non-vested Restricted Stock, Shares, Ending Balance | 35,695 | 38,552 | |
Non-vested Restricted Stock, Weighted Average Weighted Average Grant Date Fair Value, Beginning Balance | $ 19.38 | ||
Non-vested Restricted Stock, Weighted Average Grant Date Fair Value, Vested | 18.92 | ||
Non-vested Restricted Stock, Weighted Average Grant Date Fair Value, Cancelled | 19.32 | ||
Non-vested Restricted Stock, Weighted Average Grant Date Fair Value, Granted | 28.21 | ||
Non-vested Restricted Stock, Weighted Average Weighted Average Grant Date Fair Value, Ending Balance | $ 23.49 | $ 19.38 |
Stock-Based Compensation (Sch84
Stock-Based Compensation (Schedule Of Employee Stock Purchase Plan) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
ESPP shares purchased | 10,732 | 9,897 | 7,716 |
Treasury Common Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares issued to satisfy the purchase of ESPP shares | 2,772 | 1,416 | 990 |
Common Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares issued to satisfy the purchase of ESPP shares | 7,960 | 8,481 | 6,726 |
2007 Employee Stock Purchase Plan (ESPP) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
ESPP shares purchased | 10,732 | 9,897 | 7,716 |
Average purchase price per share (85% of market value) | $ 23.330 | $ 16.860 | $ 16.530 |
Compensation expense recognized | $ 59 | $ 34 | $ 33 |
Average purchase price per share percentage of market value | 85.00% | 85.00% | 85.00% |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands | Dec. 22, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Statutory tax rate | 35.00% | 35.00% | 35.00% | ||
Tax expense as result of change in federal tax rate | $ 2,755 | ||||
Scenario, Plan [Member] | |||||
Statutory tax rate | 21.00% |
Income Taxes (Provision For Inc
Income Taxes (Provision For Income Taxes) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Taxes [Abstract] | |||||||||||
Current tax provision, Federal | $ 6,151 | $ 6,221 | $ 4,827 | ||||||||
Current tax provision, State | 466 | 686 | 417 | ||||||||
Total current tax provision | 6,617 | 6,907 | 5,244 | ||||||||
Deferred income tax expense (benefit), Federal | 3,211 | (838) | (376) | ||||||||
Deferred income tax expense (benefit), State | 76 | (183) | (55) | ||||||||
Total deferred tax expense (benefit) | 3,287 | (1,021) | (431) | ||||||||
Total tax provision | $ 4,895 | $ 1,606 | $ 1,794 | $ 1,609 | $ 1,659 | $ 1,560 | $ 1,392 | $ 1,275 | $ 9,904 | $ 5,886 | $ 4,813 |
Income Taxes (Summary Of Effect
Income Taxes (Summary Of Effective Income Tax Rate And The Federal Statutory Income Tax Rate) (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Taxes [Abstract] | |||
Statutory tax rate | 35.00% | 35.00% | 35.00% |
Tax-exempt interest income | (2.60%) | (3.60%) | (4.70%) |
Bank owned life insurance income | (1.60%) | (1.60%) | (1.50%) |
State income taxes, net of federal tax benefit | 1.60% | 1.70% | 1.50% |
Other, net | 0.20% | (0.50%) | (0.10%) |
Change in enacted tax rate | 12.60% | 0.00% | 0.00% |
Effective income tax rate | 45.20% | 31.00% | 30.20% |
Income Taxes (Summary Of Deferr
Income Taxes (Summary Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Income Taxes [Abstract] | ||
Allowance for loan losses | $ 3,954 | $ 5,672 |
Deferred compensation | 1,135 | 1,755 |
Low-income housing partnerships | 79 | 312 |
Foreclosed real estate | 0 | 334 |
Acquisition accounting adjustments | 115 | 218 |
Net unrealized losses on available-for-sale securities | 255 | 578 |
Acquired net operating loss carryforwards | 131 | 347 |
Other | 32 | 421 |
Total deferred tax assets | 5,701 | 9,637 |
Deferred loan fees | 475 | 528 |
Depreciation | 310 | 565 |
Other | 201 | 391 |
Total deferred tax liabilities | 986 | 1,484 |
Net deferred tax assets | $ 4,715 | $ 8,153 |
Commitments To Extend Credit (S
Commitments To Extend Credit (Summary Of Outstanding Commitments) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Standby Letters Of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Standby letters of credit | $ 23,603 | $ 19,505 |
Unfunded Commitments Of Existing Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate | 63,327 | 68,571 |
Variable rate | 334,080 | 229,459 |
Commitments To Grant Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate | 57,727 | 104,274 |
Variable rate | $ 29,838 | $ 27,369 |
Fair Value Measurement and Fa90
Fair Value Measurement and Fair Values of Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Impaired loans, valuation allowances | $ 243 | $ 681 |
Mortgage servicing rights | 769 | 367 |
Other Real Estate Property [Member] | ||
Fair value of foreclosed real estate | 1,594 | |
Foreclosed real estate, valuation allowances | 881 | |
(Level 3) Significant Other Unobservable Inputs [Member] | ||
Impaired loans | 1,331 | 604 |
Impaired loans, valuation allowances | 243 | 681 |
Impaired loans charge-offs | $ 506 | $ 170 |
Fair Value Measurement and Fa91
Fair Value Measurement and Fair Values of Financial Instrumentss (Schedule Of Assets Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 158,591 | $ 194,739 |
Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 14,071 | 13,937 |
Recurring [Member] | U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 17,303 | 25,086 |
Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 75,175 | 91,761 |
Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 52,042 | 63,955 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 14,071 | 13,937 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 17,303 | 25,086 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 75,175 | 91,761 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 52,042 | 63,955 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 0 | $ 0 |
Fair Value Measurement and Fa92
Fair Value Measurement and Fair Values of Financial Instruments (Schedule Of Assets Measured At Fair Value On Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | $ 769 | $ 367 |
Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 1,331 | 604 |
Foreclosed real estate | 1,594 | |
Mortgage servicing rights | 769 | 367 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Foreclosed real estate | 0 | |
Mortgage servicing rights | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Foreclosed real estate | 0 | |
Mortgage servicing rights | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 1,331 | 604 |
(Level 3) Significant Other Unobservable Inputs [Member] | Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 1,331 | 604 |
Foreclosed real estate | 1,594 | |
Mortgage servicing rights | $ 769 | $ 367 |
Fair Value Measurement and Fa93
Fair Value Measurement and Fair Values of Financial Instruments (Schedule Of Level 3 Assets Measured At Fair Value On Nonrecurring Basis) (Details) - Nonrecurring [Member] - (Level 3) Significant Other Unobservable Inputs [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 1,331 | $ 604 |
Valuation Techniques | Appraisal | |
Unobservable Input | Appraisal adjustments | |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Appraisal adjustments | 24.00% | 15.00% |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Appraisal adjustments | 52.00% | 25.00% |
Impaired Loans [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Appraisal adjustments | 38.00% | 19.00% |
Foreclosed Real Estate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 1,594 | |
Foreclosed Real Estate [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Appraisal adjustments | 9.00% | |
Foreclosed Real Estate [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Appraisal adjustments | 9.00% | |
Foreclosed Real Estate [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Appraisal adjustments | 9.00% | |
Mortgage Servicing Rights [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 769 | $ 367 |
Valuation Techniques | Multiple of annual service fee | |
Unobservable Input | Estimated prepayment speed based on rate and term | |
Mortgage Servicing Rights [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Estimated prepayment speed based on rate and term | 6.90% | 6.90% |
Mortgage Servicing Rights [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Estimated prepayment speed based on rate and term | 8.50% | 8.80% |
Mortgage Servicing Rights [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Estimated prepayment speed based on rate and term | 7.60% | 7.00% |
Fair Value Measurement and Fa94
Fair Value Measurement and Fair Values of Financial Instruments (Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale | $ 158,591 | $ 194,739 |
Mortgage servicing rights | 769 | 367 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 79,524 | 74,032 |
Securities available-for-sale | 158,591 | 194,739 |
Restricted investment in bank stocks | 6,311 | 6,926 |
Loans held for sale | 1,715 | 1,548 |
Loans, net | 1,383,075 | 1,255,779 |
Interest receivable | 4,968 | 4,448 |
Mortgage servicing rights | 672 | 324 |
Deposits | 1,384,507 | 1,264,177 |
Short-term borrowings | 20,495 | 56,637 |
Long-term debt | 130,310 | 125,310 |
Interest payable | 626 | 450 |
Off-balance sheet instruments | 0 | 0 |
Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 79,524 | 74,032 |
Securities available-for-sale | 158,591 | 194,739 |
Restricted investment in bank stocks | 6,311 | 6,926 |
Loans held for sale | 1,798 | 1,603 |
Loans, net | 1,368,753 | 1,251,031 |
Interest receivable | 4,968 | 4,448 |
Mortgage servicing rights | 769 | 367 |
Deposits | 1,369,008 | 1,262,529 |
Short-term borrowings | 20,495 | 56,637 |
Long-term debt | 127,586 | 123,353 |
Interest payable | 626 | 450 |
Off-balance sheet instruments | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 79,524 | 74,032 |
Securities available-for-sale | 14,071 | 13,937 |
Restricted investment in bank stocks | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 0 | 0 |
Interest receivable | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term debt | 0 | 0 |
Interest payable | 0 | 0 |
Off-balance sheet instruments | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Securities available-for-sale | 144,520 | 180,802 |
Restricted investment in bank stocks | 6,311 | 6,926 |
Loans held for sale | 1,798 | 1,603 |
Loans, net | 0 | 0 |
Interest receivable | 4,968 | 4,448 |
Mortgage servicing rights | 0 | 0 |
Deposits | 1,369,008 | 1,262,529 |
Short-term borrowings | 20,495 | 56,637 |
Long-term debt | 119,474 | 115,195 |
Interest payable | 626 | 450 |
Off-balance sheet instruments | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Securities available-for-sale | 0 | 0 |
Restricted investment in bank stocks | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 1,368,753 | 1,251,031 |
Interest receivable | 0 | 0 |
Mortgage servicing rights | 769 | 367 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term debt | 8,112 | 8,158 |
Interest payable | 0 | 0 |
Off-balance sheet instruments | $ 0 | $ 0 |
Assets And Liabilities Subjec95
Assets And Liabilities Subject To Offsetting (Schedule Of Securities Sold Under Agreements To Repurchase) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Offsetting Liabilities [Line Items] | |||
Repurchase Agreements, Gross Amounts of Recognized Liabilities | [1] | $ 10,295 | $ 23,637 |
Repurchase Agreements, Gross Amounts Offset in the Statements of Condition | [1] | 0 | 0 |
Repurchase Agreements, Net Amounts of Liabilities Presented in the Statements of Condition | [1] | 10,295 | 23,637 |
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Cash Collateral Pledged | [1] | 0 | 0 |
Repurchase Agreements, Net Amount | [1] | 0 | 0 |
Fair value of securities pledged in connection with repurchase agreements | 15,545 | 32,535 | |
U.S. Agency Mortgage-Backed, Residential [Member] | |||
Offsetting Liabilities [Line Items] | |||
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Financial Instruments | [1] | (10,295) | (23,529) |
U.S. Agency [Member] | |||
Offsetting Liabilities [Line Items] | |||
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Financial Instruments | [1] | $ 0 | $ (108) |
[1] | As of December 31, 2017 and 2016, the fair value of securities pledged in connection with repurchase agreements was $15,545,000 and $32,535,000, respectively. |
Condensed Financial Informati96
Condensed Financial Information-Parent Company Only (Condensed Balance Sheets) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Cash and due from banks | $ 23,958 | $ 19,066 | ||
Premises and equipment, net | 24,382 | 24,573 | ||
Other assets | 53,306 | 51,689 | ||
Total assets | 1,709,205 | 1,611,587 | ||
Long-term debt | 130,310 | 125,310 | ||
Other liabilities | 9,674 | 10,506 | ||
Total liabilities | 1,544,986 | 1,456,630 | ||
Shareholders' equity | 164,219 | 154,957 | $ 159,141 | $ 118,440 |
Total liabilities and shareholders' equity | 1,709,205 | 1,611,587 | ||
Parent Company [Member] | ||||
Cash and due from banks | 515 | 467 | ||
Investment in bank subsidiary | 170,238 | 161,027 | ||
Investment in other subsidiaries | 314 | 317 | ||
Premises and equipment, net | 3,249 | 3,451 | ||
Other assets | 635 | 612 | ||
Total assets | 174,951 | 165,874 | ||
Long-term debt | 10,310 | 10,310 | ||
Long-term debt with bank subsidiary | 363 | 549 | ||
Other liabilities | 59 | 58 | ||
Total liabilities | 10,732 | 10,917 | ||
Shareholders' equity | 164,219 | 154,957 | ||
Total liabilities and shareholders' equity | $ 174,951 | $ 165,874 |
Condensed Financial Informati97
Condensed Financial Information-Parent Company Only (Condensed Statements Of Income And Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest from investment securities | $ 2,496 | $ 2,527 | $ 3,005 | ||||||||
Interest expense on long-term debt | 2,414 | 1,820 | 1,684 | ||||||||
Occupancy of premises, net | 3,305 | 3,259 | 3,185 | ||||||||
Other | 3,981 | 3,277 | 2,885 | ||||||||
Income before income taxes | $ 6,385 | $ 5,016 | $ 5,479 | $ 5,028 | $ 5,501 | $ 4,963 | $ 4,432 | $ 4,092 | 21,908 | 18,988 | 15,948 |
Applicable income tax benefit | (4,895) | (1,606) | (1,794) | (1,609) | (1,659) | (1,560) | (1,392) | (1,275) | (9,904) | (5,886) | (4,813) |
Net income | 1,490 | 3,410 | 3,685 | 3,419 | 3,842 | 3,403 | 3,040 | 2,817 | 12,004 | 13,102 | 11,135 |
Preferred stock dividends | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16 | 0 | 16 | 120 |
Net income available to common shareholders | $ 1,490 | $ 3,410 | $ 3,685 | $ 3,419 | $ 3,842 | $ 3,403 | $ 3,040 | $ 2,801 | 12,004 | 13,086 | 11,015 |
Comprehensive income | 12,337 | 10,610 | 9,839 | ||||||||
Parent Company [Member] | |||||||||||
Interest from investment securities | 9 | 7 | 6 | ||||||||
Dividends from bank subsidiary | 3,580 | 2,801 | 16,116 | ||||||||
Total income | 3,589 | 2,808 | 16,122 | ||||||||
Interest expense on long-term debt | 320 | 275 | 239 | ||||||||
Occupancy of premises, net | 140 | 174 | 153 | ||||||||
Other | 419 | 463 | 422 | ||||||||
Total expense | 879 | 912 | 814 | ||||||||
Income before income taxes | 2,710 | 1,896 | 15,308 | ||||||||
Applicable income tax benefit | 416 | 445 | 273 | ||||||||
Income before undistributed earnings (losses) of subsidiaries | 3,126 | 2,341 | 15,581 | ||||||||
Equity in undistributed earnings (losses) of bank subsidiary | 8,878 | 10,761 | (4,446) | ||||||||
Net income | 12,004 | 13,102 | 11,135 | ||||||||
Preferred stock dividends | 0 | 16 | 120 | ||||||||
Net income available to common shareholders | 12,004 | 13,086 | 11,015 | ||||||||
Comprehensive income | $ 12,337 | $ 10,610 | $ 9,839 |
Condensed Financial Informati98
Condensed Financial Information-Parent Company Only (Condensed Statements Of Cash Flows) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income | $ 1,490 | $ 3,410 | $ 3,685 | $ 3,419 | $ 3,842 | $ 3,403 | $ 3,040 | $ 2,817 | $ 12,004 | $ 13,102 | $ 11,135 |
Net cash provided by operating activities | 16,689 | 18,479 | 14,002 | ||||||||
Purchases of premises and equipment | (2,157) | (2,314) | (5,957) | ||||||||
Net cash provided by (used in) investing activities | (96,558) | (143,738) | (98,976) | ||||||||
Repayment of long-term debt | (15,000) | (35,000) | (5,096) | ||||||||
Tax benefit on vested restricted stock | 0 | 0 | 13 | ||||||||
Cash dividends paid to preferred shareholder | 0 | (46) | (120) | ||||||||
Cash dividends paid to common shareholders | (4,559) | (4,144) | (2,991) | ||||||||
Redemption of preferred stock | 0 | (12,000) | 0 | ||||||||
Net issuance of common stock | 751 | 853 | 33,614 | ||||||||
Cash paid in lieu of fractional shares | (19) | (12) | (12) | ||||||||
Net cash (used in) provided by financing activities | 85,361 | 141,806 | 111,365 | ||||||||
Net increase (decrease) in cash and cash equivalents | 5,492 | 16,547 | 26,391 | ||||||||
Cash and cash equivalents at beginning of year | 74,032 | 57,485 | 74,032 | 57,485 | 31,094 | ||||||
Cash and cash equivalents at end of period | 79,524 | 74,032 | 79,524 | 74,032 | 57,485 | ||||||
Parent Company [Member] | |||||||||||
Net income | 12,004 | 13,102 | 11,135 | ||||||||
Depreciation | 202 | 208 | 207 | ||||||||
Equity in undistributed (earnings) losses of subsidiaries, net | (8,878) | (10,761) | 4,446 | ||||||||
Other, net | 730 | 435 | 555 | ||||||||
Net cash provided by operating activities | 4,058 | 2,984 | 16,343 | ||||||||
Additional investment in bank subsidiary | 0 | 0 | (19,775) | ||||||||
Outlay for business acquisition | 0 | 0 | (14,425) | ||||||||
Return of investment in other subsidiary | 3 | 0 | 0 | ||||||||
Purchases of premises and equipment | 0 | (12) | (130) | ||||||||
Net cash provided by (used in) investing activities | 3 | (12) | (34,330) | ||||||||
Repayment of long-term debt | (186) | (179) | (172) | ||||||||
Tax benefit on vested restricted stock | 0 | 0 | 13 | ||||||||
Cash dividends paid to preferred shareholder | 0 | (46) | (120) | ||||||||
Cash dividends paid to common shareholders | (4,559) | (4,144) | (2,991) | ||||||||
Redemption of preferred stock | 0 | (12,000) | 0 | ||||||||
Net issuance of common stock | 751 | 853 | 33,614 | ||||||||
Cash paid in lieu of fractional shares | (19) | (12) | (12) | ||||||||
Net cash (used in) provided by financing activities | (4,013) | (15,528) | 30,332 | ||||||||
Net increase (decrease) in cash and cash equivalents | 48 | (12,556) | 12,345 | ||||||||
Cash and cash equivalents at beginning of year | $ 467 | $ 13,023 | 467 | 13,023 | 678 | ||||||
Cash and cash equivalents at end of period | $ 515 | $ 467 | $ 515 | $ 467 | $ 13,023 |
Quarterly Results Of Operatio99
Quarterly Results Of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Quarterly Results Of Operations [Abstract] | |||||||||||
Interest income | $ 18,552 | $ 18,063 | $ 17,295 | $ 16,505 | $ 16,233 | $ 15,660 | $ 15,323 | $ 15,014 | $ 70,415 | $ 62,230 | $ 56,002 |
Interest expense | 2,985 | 2,771 | 2,667 | 2,445 | 2,231 | 2,245 | 2,124 | 2,049 | 10,868 | 8,649 | 8,174 |
Net interest income | 15,567 | 15,292 | 14,628 | 14,060 | 14,002 | 13,415 | 13,199 | 12,965 | 59,547 | 53,581 | 47,828 |
Provision for loan losses | 600 | 2,100 | 825 | 650 | 600 | 800 | 800 | 800 | 4,175 | 3,000 | 3,500 |
Noninterest income | 2,577 | 2,542 | 2,498 | 2,392 | 2,271 | 2,308 | 2,211 | 2,076 | |||
Net gain on sales of loans held for sale | 611 | 252 | 282 | 289 | 358 | 262 | 235 | 115 | 1,434 | 970 | 667 |
Noninterest expense | 11,770 | 10,986 | 11,167 | 11,063 | 10,530 | 10,222 | 10,413 | 10,458 | 44,986 | 41,623 | 37,427 |
Income before taxes and securities gain | 6,385 | 5,000 | 5,416 | 5,028 | 5,501 | 4,963 | 4,432 | 3,898 | |||
Net gain on sales of securities | 0 | 16 | 63 | 0 | 0 | 0 | 0 | 194 | 79 | 194 | 492 |
Income before income taxes | 6,385 | 5,016 | 5,479 | 5,028 | 5,501 | 4,963 | 4,432 | 4,092 | 21,908 | 18,988 | 15,948 |
Provision for income taxes | 4,895 | 1,606 | 1,794 | 1,609 | 1,659 | 1,560 | 1,392 | 1,275 | 9,904 | 5,886 | 4,813 |
Net income | 1,490 | 3,410 | 3,685 | 3,419 | 3,842 | 3,403 | 3,040 | 2,817 | 12,004 | 13,102 | 11,135 |
Preferred stock dividends | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16 | 0 | 16 | 120 |
Net income available to common shareholders | $ 1,490 | $ 3,410 | $ 3,685 | $ 3,419 | $ 3,842 | $ 3,403 | $ 3,040 | $ 2,801 | $ 12,004 | $ 13,086 | $ 11,015 |
Net income per common share, basic | $ 0.17 | $ 0.38 | $ 0.41 | $ 0.39 | $ 0.43 | $ 0.39 | $ 0.35 | $ 0.32 | $ 1.35 | $ 1.49 | $ 1.60 |
Net income per common share, diluted | $ 0.17 | $ 0.38 | $ 0.41 | $ 0.38 | $ 0.43 | $ 0.38 | $ 0.35 | $ 0.32 | $ 1.34 | $ 1.48 | $ 1.59 |
Merger With Madison Bancorp,100
Merger With Madison Bancorp, Inc. (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 16, 2015 | Dec. 31, 2017 | Dec. 31, 2016 |
Business Acquisition [Line Items] | |||
Goodwill | $ 2,301 | $ 2,301 | |
Madison Bancorp, Inc. [Member] | |||
Business Acquisition [Line Items] | |||
Acquisition agreement date | Jul. 22, 2014 | ||
Acquisition completion date | Jan. 16, 2015 | ||
Common stock converted into the right to receive cash per share | $ 22.90 | ||
Total consideration paid | $ 14,425 | ||
Common stock purchased | 608,116 | ||
Number of shares exercised | 41,270 | ||
Average exercise price per share | $ 10.81 | ||
Fair value of total assets acquired | $ 134,308 | ||
Securities subsequently sold | 1,396 | ||
Other assets | 17,567 | ||
Receivables related to investment securities | 15,256 | ||
Goodwill | 2,301 | ||
Madison Bancorp, Inc. [Member] | Core Deposits Intangible Assets [Member] | |||
Business Acquisition [Line Items] | |||
Intangibles | $ 39 |
Merger With Madison Bancorp,101
Merger With Madison Bancorp, Inc. (Summary Of Assets Acquired And Liabilities Assumed Recorded At Estimated Fair Value) (Details) - USD ($) $ in Thousands | Jan. 16, 2015 | Dec. 31, 2017 | Dec. 31, 2016 |
Business Acquisition [Line Items] | |||
Net goodwill resulting from merger | $ 2,301 | $ 2,301 | |
Madison Bancorp, Inc. [Member] | |||
Business Acquisition [Line Items] | |||
Cash paid for outstanding shares of Madison common stock and outstanding options | $ 14,425 | ||
Cash and due from banks | 35,516 | ||
Securities, available for sale | 1,396 | ||
Loans | 77,228 | ||
Premises and equipment | 2,601 | ||
Other assets | 17,567 | ||
Total assets acquired | 134,308 | ||
Deposits | 120,545 | ||
Other liabilities | 1,639 | ||
Total liabilities assumed | 122,184 | ||
Net goodwill resulting from merger | $ 2,301 |
Merger With Madison Bancorp,102
Merger With Madison Bancorp, Inc. (Summary Of Acquired Impaired Loans) (Details) - Madison Bancorp, Inc. [Member] $ in Thousands | Jan. 16, 2015USD ($) |
Contractually required principal and interest at acquisition | $ 1,961 |
Contractual cash flows not expected to be collected | 1,185 |
Expected cash flows at acquisition | 776 |
Interest component of expected cash flows | 160 |
Basis in acquired loans at acquisition - estimated fair value | $ 616 |
Merger With Madison Bancorp,103
Merger With Madison Bancorp, Inc. (Schedule Of Pro Forma Financial Information) (Details) - Madison Bancorp, Inc. [Member] $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2014USD ($)$ / shares | |
Business Acquisition [Line Items] | |
Net interest income | $ 44,598 |
Noninterest income | 8,246 |
Net income available to common shareholders | $ 10,972 |
Pro forma earnings per share, adjusted: Basic | $ / shares | $ 1.70 |
Pro forma earnings per share, adjusted: Diluted | $ / shares | $ 1.66 |