Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 28, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Registrant Name | 'FINANCIAL INSTITUTIONS INC | ' | ' |
Entity Central Index Key | '0000862831 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 13,848,258 | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Public Float | ' | ' | $236,055,000 |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Consolidated_Statements_Of_Fin
Consolidated Statements Of Financial Condition (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents: | ' | ' |
Cash and due from banks | $59,598 | $60,342 |
Federal funds sold and interest-bearing deposits in other banks | 94 | 94 |
Total cash and cash equivalents | 59,692 | 60,436 |
Securities available for sale, at fair value | 609,400 | 823,796 |
Securities held to maturity, at amortized cost (fair value of $250, 657 and $18,478, respectively) | 249,785 | 17,905 |
Loans held for sale | 3,381 | 1,518 |
Loans (net of allowance for loan losses of $26,736 and $24,714, respectively) | 1,806,883 | 1,681,012 |
Company owned life insurance | 49,171 | 47,386 |
Premises and equipment, net | 36,009 | 36,618 |
Goodwill and other intangible assets, net | 50,002 | 50,389 |
Other assets | 64,313 | 44,805 |
Total assets | 2,928,636 | 2,763,865 |
Deposits: | ' | ' |
Noninterest-bearing demand | 535,472 | 501,514 |
Interest-bearing demand | 470,733 | 449,744 |
Savings and money market | 717,928 | 655,598 |
Certificates of deposit | 595,923 | 654,938 |
Total deposits | 2,320,056 | 2,261,794 |
Short-term borrowings | 337,042 | 179,806 |
Other liabilities | 16,699 | 68,368 |
Total liabilities | 2,673,797 | 2,509,968 |
Commitments and contingencies (Note 10) | ' | ' |
Shareholders' equity: | ' | ' |
Total preferred equity | 17,342 | 17,471 |
Common stock, $0.01 par value, 50,000,000 shares authorized; 14,161,597 shares issued | 142 | 142 |
Additional paid-in capital | 67,574 | 67,710 |
Retained earnings | 186,137 | 172,244 |
Accumulated other comprehensive (loss) income | -10,187 | 3,253 |
Treasury stock, at cost - 332,242 and 373,888 shares, respectively | -6,169 | -6,923 |
Total shareholders' equity | 254,839 | 253,897 |
Total liabilities and shareholders' equity | 2,928,636 | 2,763,865 |
Series A 3% Preferred Stock [Member] | ' | ' |
Shareholders' equity: | ' | ' |
Total preferred equity | 149 | 150 |
Series B-1 8.48% Preferred Stock [Member] | ' | ' |
Shareholders' equity: | ' | ' |
Total preferred equity | $17,193 | $17,321 |
Consolidated_Statements_Of_Fin1
Consolidated Statements Of Financial Condition (Parenthetical) (Series A 3% Preferred Stock [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Preferred stock, par value | $100 | $100 |
Preferred stock, shares authorized | 1,533 | 1,533 |
Preferred stock, shares issued | 1,496 | 1,499 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income: | ' | ' | ' |
Interest and fees on loans | $81,468 | $81,123 | $77,105 |
Interest and dividends on investment securities | 17,463 | 16,444 | 18,013 |
Total interest income | 98,931 | 97,567 | 95,118 |
Interest expense: | ' | ' | ' |
Deposits | 6,600 | 8,462 | 11,434 |
Short-term borrowings | 737 | 589 | 500 |
Long-term borrowings | ' | ' | 1,321 |
Total interest expense | 7,337 | 9,051 | 13,255 |
Net interest income | 91,594 | 88,516 | 81,863 |
Provision for loan losses | 9,079 | 7,128 | 7,780 |
Net interest income after provision for loan losses | 82,515 | 81,388 | 74,083 |
Noninterest income: | ' | ' | ' |
Service charges on deposits | 9,948 | 8,627 | 8,679 |
ATM and debit card | 5,098 | 4,716 | 4,359 |
Investment advisory | 2,345 | 2,104 | 1,829 |
Company owned life insurance | 1,706 | 1,751 | 1,424 |
Loan servicing | 570 | 617 | 835 |
Net gain on sale of loans held for sale | 117 | 1,421 | 880 |
Net gain on disposal of investment securities | 1,226 | 2,651 | 3,003 |
Impairment charges on investment securities | ' | -91 | -18 |
Net (loss) gain on sale and disposal of other assets | -103 | -381 | 67 |
Other | 3,926 | 3,362 | 2,867 |
Total noninterest income | 24,833 | 24,777 | 23,925 |
Noninterest expense: | ' | ' | ' |
Salaries and employee benefits | 37,828 | 40,127 | 35,743 |
Occupancy and equipment | 12,366 | 11,419 | 10,868 |
Professional services | 3,836 | 4,133 | 2,617 |
Computer and data processing | 2,848 | 3,271 | 2,437 |
Supplies and postage | 2,342 | 2,497 | 1,778 |
FDIC assessments | 1,464 | 1,300 | 1,513 |
Advertising and promotions | 896 | 929 | 1,259 |
Loss on extinguishment of debt | ' | ' | 1,083 |
Other | 7,861 | 7,721 | 6,496 |
Total noninterest expense | 69,441 | 71,397 | 63,794 |
Income before income taxes | 37,907 | 34,768 | 34,214 |
Income tax expense | 12,377 | 11,319 | 11,415 |
Net income | 25,530 | 23,449 | 22,799 |
Preferred stock dividends | 1,466 | 1,474 | 1,877 |
Accretion of discount on Series A preferred stock | ' | ' | 1,305 |
Net income available to common shareholders | $24,064 | $21,975 | $19,617 |
Earnings per common share (Note 16): | ' | ' | ' |
Basic | $1.75 | $1.60 | $1.50 |
Diluted | $1.75 | $1.60 | $1.49 |
Cash dividends declared per common share | $0.74 | $0.57 | $0.47 |
Weighted average common shares outstanding: | ' | ' | ' |
Basic | 13,739 | 13,696 | 13,067 |
Diluted | 13,784 | 13,751 | 13,157 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidated Statements Of Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $25,530 | $23,449 | $22,799 |
Securities available for sale and transferred securities: | ' | ' | ' |
Change in unrealized gain/loss during the period | -34,135 | 6,682 | 22,350 |
Change in net unrealized gain on securities transferred to held to maturity | -72 | ' | ' |
Reclassification adjustment for net gains included in net income | -1,226 | -2,560 | -2,985 |
Total securities available for sale and transferred securities | -35,433 | 4,122 | 19,365 |
Net actuarial gain (loss), net of amortization | 13,223 | -253 | -9,930 |
Prior service cost, net of amortization | -47 | -47 | -49 |
Total pension and post-retirement obligations | 13,176 | -300 | -9,979 |
Other comprehensive (loss) income, before tax | -22,257 | 3,822 | 9,386 |
Deferred tax expense (benefit) related to other comprehensive income | 8,817 | -1,514 | -3,719 |
Other comprehensive (loss) income, net of tax | -13,440 | 2,308 | 5,667 |
Total Comprehensive income | $12,090 | $25,757 | $28,466 |
Consolidated_Statement_Of_Chan
Consolidated Statement Of Changes In Shareholders' Equity (USD $) | Series A 3% Preferred Stock [Member] | Series A 3% Preferred Stock [Member] | Series A 3% Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series B-1 8.48% Preferred Stock [Member] | Series B-1 8.48% Preferred Stock [Member] | Series B-1 8.48% Preferred Stock [Member] | Series B-1 8.48% Preferred Stock [Member] | Preferred Equity [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
In Thousands, unless otherwise specified | Preferred Equity [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Preferred Equity [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | ||||||||||
Balance at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $53,785 | $113 | $26,029 | $144,599 | ($4,722) | ($7,660) | $212,144 |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,799 | ' | ' | 22,799 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,667 | ' | 5,667 |
Issuance of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29 | 43,098 | ' | ' | ' | 43,127 |
Purchases of common stock for treasury | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -215 | -215 |
Repurchase of Series A 3% preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3 | ' | ' | ' | ' | ' | -3 |
Repurchase of warrant issued to U.S. Treasury | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,080 | ' | ' | ' | -2,080 |
Redemption of Series A preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | -37,515 | ' | 68 | ' | ' | ' | -37,447 |
Repurchase of Series B-1 8.48% preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | -99 | ' | ' | ' | ' | ' | -99 |
Share-based compensation plans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,105 | ' | ' | ' | 1,105 |
Stock options exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -28 | ' | ' | 119 | 91 |
Restricted stock awards issued, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -954 | ' | ' | 954 | ' |
Excess tax benefit on share-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21 | ' | ' | ' | 21 |
Directors ' retainer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -12 | ' | ' | 110 | 98 |
Accretion of discount on Series A preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,305 | ' | ' | -1,305 | ' | ' | -1,305 |
Cash dividends declared: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock dividends | ' | -5 | -5 | -399 | -399 | ' | ' | -1,473 | -1,473 | ' | ' | ' | ' | ' | ' | -1,877 |
Common- dividend per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,137 | ' | ' | -6,137 |
Balance at Dec. 31, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,473 | 142 | 67,247 | 158,079 | 945 | -6,692 | 237,194 |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,449 | ' | ' | 23,449 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,308 | ' | 2,308 |
Purchases of common stock for treasury | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -557 | -557 |
Repurchase of Series B-1 8.48% preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | ' | ' | ' | ' | ' | -2 |
Share-based compensation plans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 526 | ' | ' | ' | 526 |
Stock options exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -10 | ' | ' | 79 | 69 |
Restricted stock awards issued, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -140 | ' | ' | 140 | ' |
Excess tax benefit on share-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97 | ' | ' | ' | 97 |
Directors ' retainer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -10 | ' | ' | 107 | 97 |
Cash dividends declared: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock dividends | ' | -5 | -5 | ' | ' | ' | ' | -1,469 | -1,469 | ' | ' | ' | ' | ' | ' | -1,474 |
Common- dividend per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,810 | ' | ' | -7,810 |
Balance at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,471 | 142 | 67,710 | 172,244 | 3,253 | -6,923 | 253,897 |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,530 | ' | ' | 25,530 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -13,440 | ' | -13,440 |
Purchases of common stock for treasury | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -229 | -229 |
Repurchase of Series A 3% preferred stock | -1 | ' | -1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of Series B-1 8.48% preferred stock | ' | ' | ' | ' | ' | -128 | -2 | ' | -130 | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation plans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 407 | ' | ' | ' | 407 |
Stock options exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 | ' | ' | 432 | 448 |
Restricted stock awards issued, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -446 | ' | ' | 446 | ' |
Excess tax benefit on share-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -118 | ' | ' | ' | -118 |
Directors ' retainer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | 105 | 112 |
Cash dividends declared: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock dividends | ' | -5 | -5 | ' | ' | ' | ' | -1,461 | -1,461 | ' | ' | ' | ' | ' | ' | -1,466 |
Common- dividend per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -10,171 | ' | ' | -10,171 |
Balance at Dec. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $17,342 | $142 | $67,574 | $186,137 | ($10,187) | ($6,169) | $254,839 |
Consolidated_Statement_Of_Chan1
Consolidated Statement Of Changes In Shareholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Common stock dividends per share, declared | $0.74 | $0.57 | $0.47 |
Series A 3% Preferred Stock [Member] | ' | ' | ' |
Preferred stock dividends per share, declared | $3 | $3 | $3 |
Series A Preferred Stock [Member] | ' | ' | ' |
Preferred stock dividends per share, declared | ' | ' | $53.24 |
Series B-1 8.48% Preferred Stock [Member] | ' | ' | ' |
Preferred stock dividends per share, declared | $8.48 | $8.48 | $8.48 |
Series B-1 8.48% Preferred Stock [Member] | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage | 8.48% | ' | ' |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $25,530 | $23,449 | $22,799 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 4,181 | 3,828 | 3,466 |
Net amortization of premiums on securities | 4,532 | 5,284 | 5,722 |
Provision for loan losses | 9,079 | 7,128 | 7,780 |
Share-based compensation | 407 | 526 | 1,105 |
Deferred income tax expense | 1,547 | 6,343 | 6,510 |
Proceeds from sale of loans held for sale | 26,184 | 55,067 | 32,839 |
Originations of loans held for sale | -31,657 | -52,754 | -31,231 |
Increase in company owned life insurance | -1,706 | -1,751 | -1,424 |
Net gain on sale of loans held for sale | -117 | -1,421 | -880 |
Net gain on disposal of investment securities | -1,226 | -2,651 | -3,003 |
Impairment charges on investment securities | ' | 91 | 18 |
Net loss (gain) on sale and disposal of other assets | 103 | 381 | -67 |
Contributions to defined benefit pension plan | ' | -8,000 | -10,000 |
Loss on extinguishment of debt | ' | ' | 1,083 |
Increase in other assets | -6,640 | -4,249 | -7,756 |
Increase in other liabilities | 6,981 | 7,429 | 5,057 |
Net cash provided by operating activities | 37,198 | 38,700 | 32,018 |
Cash flows from investing activities: | ' | ' | ' |
Available for sale | -246,874 | -322,191 | -158,013 |
Held to maturity | -19,598 | -15,484 | -17,188 |
Proceeds from principal payments, maturities and calls on investment securities: | ' | ' | ' |
Available for sale | 143,053 | 175,679 | 168,976 |
Held to maturity | 14,784 | 20,819 | 21,986 |
Proceeds from sales of securities available for sale | 1,327 | 2,823 | 44,514 |
Net increase in loans, excluding sales | -131,949 | -151,311 | -157,110 |
Loans sold or participated to others | ' | ' | 13,033 |
Purchases of company owned life insurance | -79 | -79 | -18,079 |
Proceeds from sales of other assets | 555 | 734 | 705 |
Purchases of premises and equipment | -3,411 | -5,840 | -3,678 |
Net cash received in branch acquisitions | ' | 195,778 | ' |
Net cash used in investing activities | -242,192 | -99,072 | -104,854 |
Cash flows from financing activities: | ' | ' | ' |
Net increase in deposits | 58,262 | 43,376 | 48,709 |
Net increase in short-term borrowings | 157,236 | 29,108 | 73,588 |
Repayments of long-term borrowings | ' | ' | -26,767 |
Proceeds from issuance of common stock, net of issuance costs | ' | ' | 43,127 |
Purchases of common stock for treasury | -229 | -557 | -215 |
Repurchase of preferred stock | -131 | -2 | -37,549 |
Repurchase of warrant issued to U.S. Treasury | ' | ' | -2,080 |
Proceeds from stock options exercised | 448 | 69 | 91 |
Excess tax (expense) benefit on share-based compensation | -118 | 97 | 21 |
Cash dividends paid to preferred shareholders | -1,468 | -1,474 | -2,118 |
Cash dividends paid to common shareholders | -9,750 | -7,392 | -5,446 |
Net cash provided by financing activities | 204,250 | 63,225 | 91,361 |
Net (decrease) increase in cash and cash equivalents | -744 | 2,853 | 18,525 |
Cash and cash equivalents, beginning of period | 60,436 | 57,583 | 39,058 |
Cash and cash equivalents, end of period | $59,692 | $60,436 | $57,583 |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Summary Of Significant Accounting Policies [Abstract] | ' | ||||||||
Summary Of Significant Accounting Policies | ' | ||||||||
(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||||||
Financial Institutions, Inc. (the "Parent") is a financial holding company organized in 1931 under the laws of New York State ("New York" or "NYS"). Through its wholly-owned New York chartered banking subsidiary, Five Star Bank, Financial Institutions, Inc. offers a broad array of deposit, lending and other financial services to services to individuals, municipalities and businesses in Western and Central New York. The Company has also expanded its indirect lending network to include relationships with franchised automobile dealers in the Capital District of New York and Northern Pennsylvania. References to "the Company" mean the consolidated reporting entities and references to "the Bank" mean Five Star Bank. | |||||||||
The accounting and reporting policies conform to general practices within the banking industry and to U.S. generally accepted accounting principles ("GAAP"). | |||||||||
The Company has evaluated events and transactions for potential recognition or disclosure through the day the financial statements were issued. | |||||||||
The following is a description of the Company's significant accounting policies. | |||||||||
(a.) Principles of Consolidation | |||||||||
The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. | |||||||||
(b.) Use of Estimates | |||||||||
In preparing the consolidated financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amount of assets and liabilities as of the date of the statement of financial condition and reported amounts of revenue and expenses during the reporting period. Material estimates relate to the determination of the allowance for loan losses, the carrying value of goodwill and deferred tax assets, the valuation and other than temporary impairment ("OTTI") considerations related to the securities portfolio, and assumptions used in the defined benefit pension plan accounting. These estimates and assumptions are based on management's best estimates and judgment and are evaluated on an ongoing basis using historical experience and other factors, including the current economic environment. The Company adjusts these estimates and assumptions when facts and circumstances dictate. As future events cannot be determined with precision, actual results could differ significantly from the Company's estimates. | |||||||||
(c.) Cash Flow Reporting | |||||||||
Cash and cash equivalents include cash and due from banks, federal funds sold and interest-bearing deposits in other banks. Net cash flows are reported for loans, deposit transactions and short-term borrowings. | |||||||||
Supplemental cash flow information is summarized as follows for the years ended December 31 (in thousands): | |||||||||
2013 | 2012 | 2011 | |||||||
Cash payments: | |||||||||
Interest expense | $ | 7,750 | $ | 10,438 | $ | 15,668 | |||
Income taxes | 8,095 | 4,014 | 5,191 | ||||||
Noncash investing and financing activities: | |||||||||
Real estate and other assets acquired in settlement of loans | $ | 726 | $ | 322 | $ | 305 | |||
Accrued and declared unpaid dividends | 2,981 | 2,562 | 2,144 | ||||||
Accretion of preferred stock discount | - | - | 1,305 | ||||||
(Decrease) increase in net unsettled security purchases | (51,112 | ) | 51,135 | (67 | ) | ||||
Securities transferred from available for sale to held to maturity | 227,330 | - | - | ||||||
Loans transferred from held for sale to held for investment | 3,727 | - | - | ||||||
Net transfer of portfolio loans to held for sale | - | - | 13,576 | ||||||
Assets acquired and liabilities assumed in branch acquisition: | |||||||||
Loans and other non-cash assets, excluding goodwill and core | |||||||||
deposit intangible asset | - | 77,912 | - | ||||||
Deposits and other liabilities | - | 287,331 | - | ||||||
(d.) Investment Securities | |||||||||
Investment securities are classified as either available for sale or held to maturity. Debt securities that management has the positive intent and ability to hold to maturity are classified as held to maturity and are recorded at amortized cost. Other investment securities are classified as available for sale and recorded at fair value, with unrealized gains and losses excluded from earnings and reported as a component of comprehensive income and shareholders' equity. | |||||||||
Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Securities are evaluated periodically to determine whether a decline in their fair value is other than temporary. Management utilizes criteria such as, the current intent to hold or sell the security, the magnitude and duration of the decline and, when appropriate, consideration of negative changes in expected cash flows, creditworthiness, near term prospects of issuers, the level of credit subordination, estimated loss severity, and delinquencies, to determine whether a loss in value is other than temporary. The term "other than temporary" is not intended to indicate that the decline is permanent, but indicates that the prospect for a near-term recovery of value is not necessarily favorable. Declines in the fair value of investment securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses to the extent the impairment is related to credit issues or concerns, or the security is intended to be sold. The amount of impairment related to non-credit related factors is recognized in other comprehensive income. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. | |||||||||
(e.) Loans Held for Sale and Loan Servicing Rights | |||||||||
The Company generally makes the determination of whether to identify a mortgage as held for sale at the time the loan is closed based on the Company's intent and ability to hold the loan. Loans held for sale are recorded at the lower of cost or market computed on the aggregate portfolio basis. The amount, by which cost exceeds market value, if any, is accounted for as a valuation allowance with changes included in the determination of results of operations for the period in which the change occurs. The amount of loan origination cost and fees are deferred at origination of the loans and recognized as part of the gain or loss on sale of the loans, determined using the specific identification method, in the consolidated statements of income. | |||||||||
The Company originates and sells certain residential real estate loans in the secondary market. The Company typically retains the right to service the mortgages upon sale. Mortgage-servicing rights ("MSRs") represent the cost of acquiring the contractual rights to service loans for others. MSRs are recorded at their fair value at the time a loan is sold and servicing rights are retained. MSRs are reported in other assets in the consolidated statements of financial position and are amortized to noninterest income in the consolidated statements of income in proportion to and over the period of estimated net servicing income. The Company uses a valuation model that calculates the present value of future cash flows to determine the fair value of servicing rights. In using this valuation method, the Company incorporates assumptions to estimate future net servicing income, which include estimates of the cost to service the loan, the discount rate, an inflation rate and prepayment speeds. On a quarterly basis, the Company evaluates its MSRs for impairment and charges any such impairment to current period earnings. In order to evaluate its MSRs the Company stratifies the related mortgage loans on the basis of their predominant risk characteristics, such as interest rates, year of origination and term, using discounted cash flows and market-based assumptions. Impairment of MSRs is recognized through a valuation allowance, determined by estimating the fair value of each stratum and comparing it to its carrying value. Subsequent increases in fair value are adjusted through the valuation allowance, but only to the extent of the valuation allowance. No impairment loss related to the MSRs was recognized during the years ended December 31, 2013 or 2012. The Company recognized an impairment loss related to the MSRs of $35 thousand during the year ended December 31, 2011. | |||||||||
Mortgage loan servicing includes collecting monthly mortgagor payments, forwarding payments and related accounting reports to investors, collecting escrow deposits for the payment of mortgagor property taxes and insurance, and paying taxes and insurance from escrow funds when due. Loan servicing income (a component of noninterest income in the consolidated statements of income) consists of fees earned for servicing mortgage loans sold to third parties, net of amortization expense and impairment losses associated with capitalized mortgage servicing assets. | |||||||||
(f.) Loans | |||||||||
Loans are classified as held for investment when management has both the intent and ability to hold the loan for the foreseeable future, or until maturity or payoff. Loans are carried at the principal amount outstanding, net of any unearned income and unamortized deferred fees and costs on originated loans. Loan origination fees and certain direct loan origination costs are deferred, and the net amount is amortized into net interest income over the contractual life of the related loans or over the commitment period as an adjustment of yield. Interest income on loans is based on the principal balance outstanding computed using the effective interest method. | |||||||||
A loan is considered delinquent when a payment has not been received in accordance with the contractual terms. The accrual of interest income for commercial loans is discontinued when there is a clear indication that the borrower's cash flow may not be sufficient to meet payments as they become due, while the accrual of interest income for retail loans is discontinued when loans reach specific delinquency levels. Loans are generally placed on nonaccrual status when contractually past due 90 days or more as to interest or principal payments, unless the loan is well secured and in the process of collection. Additionally, if management becomes aware of facts or circumstances that may adversely impact the collectability of principal or interest on loans, it is management's practice to place such loans on a nonaccrual status immediately, rather than delaying such action until the loans become 90 days past due. When a loan is placed on nonaccrual status, previously accrued and uncollected interest is reversed, amortization of related deferred loan fees or costs is suspended, and income is recorded only to the extent that interest payments are subsequently received in cash and a determination has been made that the principal balance of the loan is collectible. If collectability of the principal is in doubt, payments received are applied to loan principal. A nonaccrual loan may be returned to accrual status when all delinquent principal and interest payments become current in accordance with the terms of the loan agreement, the borrower has demonstrated a period of sustained performance (generally a minimum of six months) and the ultimate collectability of the total contractual principal and interest is no longer in doubt. | |||||||||
The Company's loan policy dictates the guidelines to be followed in determining when a loan is charged-off. All charge offs are approved by the Bank's senior loan officers or loan committees, depending on the amount of the charge off, and are reported in aggregate to the Bank's Board of Directors. Commercial business and commercial mortgage loans are charged-off when a determination is made that the financial condition of the borrower indicates that the loan will not be collectible in the ordinary course of business. Residential mortgage loans and home equities are generally charged-off or written down when the credit becomes severely delinquent and the balance exceeds the fair value of the property less costs to sell. Indirect and other consumer loans, both secured and unsecured, are generally charged-off in full during the month in which the loan becomes 120 days past due, unless the collateral is in the process of repossession in accordance with the Company's policy. | |||||||||
A loan is accounted for as a troubled debt restructuring if the Company, for economic or legal reasons related to the borrower's financial condition, grants a significant concession to the borrower that it would not otherwise consider. A troubled debt restructuring may involve the receipt of assets from the debtor in partial or full satisfaction of the loan, or a modification of terms such as a reduction of the stated interest rate or face amount of the loan, a reduction of accrued interest, an extension of the maturity date at a stated interest rate lower than the current market rate for a new loan with similar risk, or some combination of these concessions. Troubled debt restructurings generally remain on nonaccrual status until there is a sustained period of payment performance (usually six months or longer) and there is a reasonable assurance that the payments will continue. See Allowance for Loan Losses below for further policy discussion and see Note 5 – Loans for additional information. | |||||||||
(g.) Off-Balance Sheet Financial Instruments | |||||||||
In the ordinary course of business, the Company enters into off-balance sheet financial instruments consisting of commitments to extend credit, standby letters of credit and financial guarantees. Such financial instruments are recorded in the consolidated financial statements when they are funded or when related fees are incurred or received. The Company periodically evaluates the credit risks inherent in these commitments and establishes loss allowances for such risks if and when these are deemed necessary. | |||||||||
The Company recognizes as liabilities the fair value of the obligations undertaken in issuing the guarantees under the standby letters of credit, net of the related amortization at inception. The fair value approximates the unamortized fees received from the customers for issuing the standby letters of credit. The fees are deferred and recognized on a straight-line basis over the commitment period. Standby letters of credit outstanding at December 31, 2013 had original terms ranging from one to five years. | |||||||||
Fees received for providing loan commitments and letters of credit that result in loans are typically deferred and amortized to interest income over the life of the related loan, beginning with the initial borrowing. Fees on commitments and letters of credit are amortized to other income as banking fees and commissions over the commitment period when funding is not expected. | |||||||||
(h.) Allowance for Loan Losses | |||||||||
The allowance for loan losses is established through charges to earnings in the form of a provision for loan losses. When a loan or portion of a loan is determined to be uncollectible, the portion deemed uncollectible is charged against the allowance and subsequent recoveries, if any, are credited to the allowance. | |||||||||
The allowance for loan losses is evaluated on a regular basis and is based upon periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower's ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. | |||||||||
The allowance consists of specific and general components. Specific allowances are established for impaired loans. Impaired commercial business and commercial mortgage loans are individually evaluated and measured for impairment based on the present value of expected future cash flows discounted at the loan's effective interest rate, a loan's observable market price, or the fair value of the collateral if the loan is collateral dependent. Regardless of the measurement method, impairment is based on the fair value of the collateral when foreclosure is probable. If the recorded investment in impaired loans exceeds the measure of estimated fair value, a specific allowance is established as a component of the allowance for loan losses. Interest payments on impaired loans are typically applied to principal unless collectability of the principal amount is reasonably assured, in which case interest is recognized on a cash basis. Impaired loans, or portions thereof, are charged-off when deemed uncollectible. | |||||||||
A loan is considered impaired when, based on current information and events, it is probable that the Company 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 Company 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. Impairment is measured on a loan by loan basis by either the present value of expected future cash flows discounted at the loan's effective interest rate, the loans obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Large groups of homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and residential loans for impairment disclosures unless the loan has been subject to a troubled debt restructure. At December 31, 2013, there were no commitments to lend additional funds to those borrowers whose loans were classified as impaired. | |||||||||
General allowances are established for loan losses on a portfolio basis for loans that do not meet the definition of impaired. The portfolio is grouped into similar risk characteristics, primarily loan type. The Company applies an estimated loss rate to each loan group. The loss rate is based on historical experience and as a result can differ from actual losses incurred in the future. The historical loss rate is adjusted for qualitative factors such as levels and trends of delinquent and non-accruing loans, trends in volume and terms, effects of changes in lending policy, the experience, ability and depth of management, national and local economic trends and conditions, concentrations of credit risk, interest rates, highly leveraged borrowers, information risk and collateral risk. The qualitative factors are reviewed at least quarterly and adjustments are made as needed. | |||||||||
While management evaluates currently available information in establishing the allowance for loan losses, future adjustments to the allowance may be necessary if conditions differ substantially from the assumptions used in making the evaluations. In addition, various regulatory agencies, as an integral part of their examination process, periodically review a financial institution's allowance for loan losses. Such agencies may require the financial institution to recognize additions to the allowance based on their judgments about information available to them at the time of their examination. | |||||||||
(i.) Other Real Estate Owned | |||||||||
Other real estate owned consists of properties acquired through foreclosure or by acceptance of a deed in lieu of foreclosure. These assets are recorded at the lower of fair value of the asset acquired less estimated costs to sell or "cost" (defined as the fair value at initial foreclosure). At the time of foreclosure, or when foreclosure occurs in-substance, the excess, if any, of the loan over the fair market value of the assets received, less estimated selling costs, is charged to the allowance for loan losses and any subsequent valuation write-downs are charged to other expense. In connection with the determination of the allowance for loan losses and the valuation of other real estate owned, management obtains appraisals for properties. Operating costs associated with the properties are charged to expense as incurred. Gains on the sale of other real estate owned are included in income when title has passed and the sale has met the minimum down payment requirements prescribed by GAAP. The balance of other real estate owned was $333 thousand and $184 thousand at December 31, 2013 and 2012, respectively. | |||||||||
(j.) Company Owned Life Insurance | |||||||||
The Company holds life insurance policies on certain current and former employees. The Company is the owner and beneficiary of the policies. The cash surrender value of these policies is included as an asset on the consolidated statements of financial condition, and any increase in cash surrender value is recorded as noninterest income on the consolidated statements of income. In the event of the death of an insured individual under these policies, the Company would receive a death benefit which would be recorded as noninterest income. | |||||||||
(k.) Premises and Equipment | |||||||||
Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed on the straight-line method over the estimated useful lives of the assets. The Company generally amortizes buildings and building improvements over a period of 15 to 39 years and software, furniture and equipment over a period of 3 to 10 years. Leasehold improvements are amortized over the shorter of the lease term or the useful life of the improvements. Premises and equipment are periodically reviewed for impairment or when circumstances present indicators of impairment. | |||||||||
(l.) Goodwill and Other Intangible Assets | |||||||||
Goodwill represents the excess of the purchase price over the fair value of net assets acquired in accordance with the purchase method of accounting for business combinations. Goodwill has an indefinite useful life and is not amortized, but is tested for impairment. GAAP requires goodwill to be tested for impairment at the Company's reporting unit level on an annual basis, which for the Company is September 30th, and more frequently if events or circumstances indicate that there may be impairment. Currently, the Company's goodwill is evaluated at the entity level as there is only one reporting unit. | |||||||||
Impairment exists when a reporting unit's carrying value of goodwill exceeds its implied fair value. In testing goodwill for impairment, GAAP permits the Company to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If, after assessing the totality of events and circumstances, the Company determines it is not more likely than not that the fair value of a reporting unit is less than its carrying value, then performing the two-step impairment test would be unnecessary. However, if the Company concludes otherwise, it would then be required to perform the first step (Step 1) of the goodwill impairment test, and continue to the second step (Step 2), if necessary. Step 1 compares the fair value of a reporting unit with its carrying value, including goodwill. If the carrying value of the reporting unit exceeds its fair value, Step 2 of the goodwill impairment test is performed to measure the amount of impairment loss, if any. | |||||||||
Intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset, or liability. The Company's intangible assets relate to core deposits. Intangible assets with definite useful lives are amortized on an accelerated basis over their estimated life of approximately nine and a half years. Intangible assets with indefinite useful lives are not amortized until their lives are determined to be definite. Intangible assets are tested for impairment whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. See Note 7 - Goodwill and Other Intangible Assets. | |||||||||
(m.) Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB") Stock | |||||||||
The non-marketable investments in FHLB and FRB stock are included in other assets in the consolidated statements of financial condition at par value or cost and are periodically reviewed for impairment. The dividends received relative to these investments are included in other noninterest income in the consolidated statements of income. | |||||||||
As a member of the FHLB system, the Company is required to maintain a specified investment in FHLB of New York ("FHLBNY") stock in proportion to its volume of certain transactions with the FHLB. FHLBNY stock totaled $15.8 million and $8.4 million as of December 31, 2013 and 2012, respectively. | |||||||||
As a member of the FRB system, the Company is required to maintain a specified investment in FRB stock based on a ratio relative to the Company's capital. FRB stock totaled $3.9 million as of December 31, 2013 and 2012. | |||||||||
(n.) Equity Method Investments | |||||||||
The Company has investments in limited partnerships, primarily Small Business Investment Companies, and accounts for these investments under the equity method. These investments are included in other assets in the consolidated statements of financial condition and totaled $4.8 million and $4.7 million as of December 31, 2013 and 2012, respectively. | |||||||||
(o.) Treasury Stock | |||||||||
Acquisitions of treasury stock are recorded at cost. The reissuance of shares in treasury is recorded at weighted-average cost. | |||||||||
(p.) Employee Benefits | |||||||||
The Company participates in a non-contributory defined benefit pension plan for certain employees who previously met participation requirements. The Company also provides post-retirement benefits, principally health and dental care, to employees of a previously acquired entity. The Company has closed the pension and post-retirement plans to new participants. The actuarially determined pension benefit is based on years of service and the employee's highest average compensation during five consecutive years of employment. The Company's policy is to at least fund the minimum amount required by the Employment Retirement Income Security Act of 1974. The cost of the pension and post-retirement plans are based on actuarial computations of current and future benefits for employees, and is charged to noninterest expense in the consolidated statements of income. | |||||||||
The Company recognizes an asset or a liability for a plans' overfunded status or underfunded status, respectively, in the consolidated financial statements and reports changes in the funded status as a component of other comprehensive income, net of applicable taxes, in the year in which changes occur. | |||||||||
(q.) Share-Based Compensation Plans | |||||||||
Compensation expense for stock options and restricted stock awards is based on the fair value of the award on the measurement date, which, for the Company, is the date of grant and is recognized ratably over the service period of the award. The fair value of stock options is estimated using the Black-Scholes option-pricing model. The fair value of restricted stock awards is generally the market price of the Company's stock on the date of grant. | |||||||||
Share-based compensation expense is included in the consolidated statements of income under salaries and employee benefits for awards granted to management and in other noninterest expense for awards granted to directors. | |||||||||
(r.) Income Taxes | |||||||||
Income taxes are accounted for using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is recognized on deferred tax assets if, based upon the weight of available evidence, it is more likely than not that some or all of the assets may not be realized. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. | |||||||||
(s.) Comprehensive Income | |||||||||
Comprehensive income includes all changes in shareholders' equity during a period, except those resulting from transactions with shareholders. In addition to net income, other components of the Company's comprehensive income include the after tax effect of changes in net unrealized gain / loss on securities available for sale and changes in net actuarial gain / loss on defined benefit post-retirement plans. Comprehensive income is reported in the accompanying consolidated statements of changes in shareholder's equity and consolidated statements of comprehensive income. See Note 13 - Accumulated Other Comprehensive Income (Loss) for additional information. | |||||||||
(t.) Earnings Per Common Share | |||||||||
The Company calculates earnings per common share ("EPS") using the two-class method in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 260, "Earnings Per Share". The two-class method requires the Company to present EPS as if all of the earnings for the period are distributed to common shareholders and any participating securities, regardless of whether any actual dividends or distributions are made. All outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends are considered participating securities. Certain of the restricted shares issued under the Company's share-based compensation plan are entitled to dividends at the same rate as common stock. The Company has determined that these outstanding non-vested stock awards qualify as participating securities. | |||||||||
Basic EPS is computed by dividing distributed and undistributed earnings available to common shareholders by the weighted average number of common shares outstanding for the period. Distributed and undistributed earnings available to common shareholders represent net income reduced by preferred stock dividends and distributed and undistributed earnings available to participating securities. Common shares outstanding include common stock and vested restricted stock awards. Diluted EPS reflects the assumed conversion of all potential dilutive securities. A reconciliation of the weighted-average shares used in calculating basic earnings per common share and the weighted average common shares used in calculating diluted earnings per common share for the reported periods is provided in Note 16 - Earnings Per Common Share. | |||||||||
(u.) Reclassifications | |||||||||
Prior years' consolidated financial statements are reclassified whenever necessary to conform to the current year's presentation. Certain reclassifications have been made to the prior years' financial statements in order to reflect retrospective adjustments made to the balance of goodwill at December 31, 2012 to reflect the effect of these measurement period adjustments made in accordance with accounting requirements. The reclassifications had no impact on shareholders' equity or net income. | |||||||||
(v.) Recent Accounting Pronouncements | |||||||||
In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-02, | |||||||||
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU No. 2013-02 does not amend any existing requirements for reporting net income or other comprehensive income in the financial statements. ASU No. 2013-02 requires an entity to disaggregate the total change of each component of other comprehensive income (e.g., unrealized gains or losses on available-for-sale investment securities) and separately present reclassification adjustments and current period other comprehensive income. The provisions of ASU No. 2013-02 also requires that entities present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source (e.g., unrealized gains or losses on available-for-sale investment securities) and the income statement line item affected by the reclassification (e.g., realized gains (losses) on sales of investment securities). If a component is not required to be reclassified to net income in its entirety (e.g., amortization of defined benefit plan items), entities would instead cross reference to the related note to the financial statements for additional information (e.g., pension footnote). The Company adopted the provisions of ASU No. 2013-02 effective January 1, 2013. As the Company provided these required disclosures in the notes to the consolidated financial statements, the adoption of ASU No. 2013-02 had no impact on the Company's consolidated statements of income and condition. See Note 13 – Accumulated Other Comprehensive Income (Loss) to the consolidated financial statements for the disclosures required by ASU No. 2013-02. | |||||||||
Branch_Acquisitions
Branch Acquisitions | 12 Months Ended | ||
Dec. 31, 2013 | |||
Branch Acquisitions [Abstract] | ' | ||
Branch Acquisitions | ' | ||
(2.) BRANCH ACQUISITIONS | |||
On January 19, 2012, the Bank entered into agreements with First Niagara Bank, National Association ("First Niagara") to acquire four retail bank branches in Medina, Brockport, Batavia and Waterloo, New York (the "First Niagara Branches") and four retail bank branches previously owned by HSBC Bank USA, National Association ("HSBC") in Elmira, Elmira Heights, Horseheads and Albion, New York (the "HSBC Branches"). First Niagara assigned its rights to the HSBC branches in connection with its acquisition of HSBC's Upstate New York banking franchise. Under the terms of the agreements, the Bank assumed substantially all related deposits and purchased the related branch premises and certain performing loans. The transaction to acquire the First Niagara Branches was completed on June 22, 2012 and the transaction to acquire the HSBC Branches was completed on August 17, 2012. The combined assets acquired and deposits assumed in the two transactions were recorded at their estimated fair values as follows (in thousands): | |||
Cash | $ | 195,778 | |
Loans | 75,635 | ||
Bank premises and equipment | 1,938 | ||
Goodwill | 11,167 | ||
Core deposit intangible asset | 2,042 | ||
Other assets | 601 | ||
Total assets acquired | $ | 287,161 | |
Deposits assumed | $ | 286,819 | |
Other liabilities | 342 | ||
Total liabilities assumed | $ | 287,161 | |
The transactions were accounted for using the acquisition method of accounting and accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at their estimated fair values on the acquisition dates. The Company acquired the loan portfolios at a fair value discount, net of market premium, of $824 thousand. The discount represented expected credit losses, net of market interest rate adjustments. The discount on loans receivable is being amortized to interest income over the estimated remaining life of the acquired loans using the level yield method. The time deposit premium of $335 thousand is being accreted over the estimated remaining life of the related deposits as a reduction of interest expense. The core deposit intangible asset is being amortized on an accelerated basis over the estimated average life of the core deposits. | |||
During the year ended December 31, 2013, the Company recorded a decrease to the estimated fair value of liabilities assumed and an increase to the related deferred income taxes based upon information obtained subsequent to the acquisition. In addition to changes in those assets and liabilities, the revisions resulted in a reduction in goodwill of approximately $432 thousand. The final purchase price allocation was completed during the three months ended September 30, 2013, and the Company has recorded final goodwill totaling approximately $11.2 million in connection with the acquisitions. All goodwill and core deposit intangible assets arising from this acquisition are expected to be deductible for tax purposes. | |||
Investment_Securities
Investment Securities | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Investment Securities [Abstract] | ' | ||||||||||||
Investment Securities | ' | ||||||||||||
(3.) INVESTMENT SECURITIES | |||||||||||||
The amortized cost and estimated fair value of investment securities are summarized below (in thousands). | |||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||
Cost | Gains | Losses | Value | ||||||||||
31-Dec-13 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 135,840 | $ | 1,414 | $ | 2,802 | $ | 134,452 | |||||
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 173,507 | 1,511 | 4,810 | 170,208 | |||||||||
Federal Home Loan Mortgage Corporation | 36,737 | 562 | 205 | 37,094 | |||||||||
Government National Mortgage Association | 61,832 | 2,152 | 142 | 63,842 | |||||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 63,838 | 261 | 3,195 | 60,904 | |||||||||
Federal Home Loan Mortgage Corporation | 102,660 | 169 | 5,856 | 96,973 | |||||||||
Government National Mortgage Association | 43,734 | 913 | 586 | 44,061 | |||||||||
Privately issued | - | 1,467 | - | 1,467 | |||||||||
Total collateralized mortgage obligations | 210,232 | 2,810 | 9,637 | 203,405 | |||||||||
Total mortgage-backed securities | 482,308 | 7,035 | 14,794 | 474,549 | |||||||||
Asset-backed securities | 18 | 381 | - | 399 | |||||||||
Total available for sale securities | $ | 618,166 | $ | 8,830 | $ | 17,596 | $ | 609,400 | |||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | $ | 249,785 | $ | 1,340 | $ | 468 | $ | 250,657 | |||||
31-Dec-12 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 128,097 | $ | 3,667 | $ | 69 | $ | 131,695 | |||||
State and political subdivisions | 188,997 | 6,285 | 72 | 195,210 | |||||||||
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 147,946 | 4,394 | 188 | 152,152 | |||||||||
Federal Home Loan Mortgage Corporation | 65,426 | 1,430 | - | 66,856 | |||||||||
Government National Mortgage Association | 56,166 | 3,279 | - | 59,445 | |||||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 60,805 | 1,865 | 2 | 62,668 | |||||||||
Federal Home Loan Mortgage Corporation | 78,581 | 1,911 | - | 80,492 | |||||||||
Government National Mortgage Association | 70,989 | 2,168 | - | 73,157 | |||||||||
Privately issued | 73 | 1,025 | - | 1,098 | |||||||||
Total collateralized mortgage obligations | 210,448 | 6,969 | 2 | 217,415 | |||||||||
Total mortgage-backed securities | 479,986 | 16,072 | 190 | 495,868 | |||||||||
Asset-backed securities | 121 | 902 | - | 1,023 | |||||||||
Total available for sale securities | $ | 797,201 | $ | 26,926 | $ | 331 | $ | 823,796 | |||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | $ | 17,905 | $ | 573 | $ | - | $ | 18,478 | |||||
During the year ended December 31, 2013, the Company transferred $227.3 million of available for sale state and municipal debt securities to the held to maturity category, reflecting the Company's intent to hold those securities to maturity. Transfers of investment securities into the held to maturity category from the available for sale category are made at fair value at the date of transfer. The related $78 thousand of unrealized holding gains that were included in the transfer are retained in accumulated other comprehensive income and in the carrying value of the held to maturity securities. This amount will be amortized as an adjustment to interest income over the remaining life of the securities. This will offset the impact of amortization of the net premium created in the transfer. There were no gains or losses recognized as a result of this transfer. | |||||||||||||
Interest and dividends on securities for the years ended December 31 are summarized as follows (in thousands): | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Taxable interest and dividends | $ | 12,541 | $ | 12,202 | $ | 14,185 | |||||||
Tax-exempt interest and dividends | 4,922 | 4,242 | 3,828 | ||||||||||
Total interest and dividends on securities | $ | 17,463 | $ | 16,444 | $ | 18,013 | |||||||
Sales and calls of securities available for sale for the years ended December 31 were as follows (in thousands): | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Proceeds from sales | $ | 1,327 | $ | 2,823 | $ | 44,514 | |||||||
Gross realized gains | 1,226 | 2,651 | 3,051 | ||||||||||
Gross realized losses | - | - | 48 | ||||||||||
The scheduled maturities of securities available for sale and securities held to maturity at December 31, 2013 are shown below. Actual expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations (in thousands). | |||||||||||||
Amortized | Fair | ||||||||||||
Cost | Value | ||||||||||||
Debt securities available for sale: | |||||||||||||
Due in one year or less | $ | 24,205 | $ | 24,204 | |||||||||
Due from one to five years | 28,163 | 28,932 | |||||||||||
Due after five years through ten years | 238,364 | 232,854 | |||||||||||
Due after ten years | 327,434 | 323,410 | |||||||||||
$ | 618,166 | $ | 609,400 | ||||||||||
Debt securities held to maturity: | |||||||||||||
Due in one year or less | $ | 25,289 | $ | 25,371 | |||||||||
Due from one to five years | 109,911 | 110,862 | |||||||||||
Due after five years through ten years | 114,543 | 114,371 | |||||||||||
Due after ten years | 42 | 53 | |||||||||||
$ | 249,785 | $ | 250,657 | ||||||||||
Unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31 are summarized as follows (in thousands): | |||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||
31-Dec-13 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 86,177 | $ | 2,788 | $ | 2,717 | $ | 14 | $ | 88,894 | $ | 2,802 | |
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 103,778 | 3,491 | 20,689 | 1,319 | 124,467 | 4,810 | |||||||
Federal Home Loan Mortgage Corporation | 14,166 | 205 | - | - | 14,166 | 205 | |||||||
Government National Mortgage Association | 14,226 | 142 | - | - | 14,226 | 142 | |||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 35,632 | 2,586 | 11,760 | 609 | 47,392 | 3,195 | |||||||
Federal Home Loan Mortgage Corporation | 72,655 | 4,980 | 15,762 | 876 | 88,417 | 5,856 | |||||||
Government National Mortgage Association | 8,396 | 586 | - | - | 8,396 | 586 | |||||||
Total collateralized mortgage obligations | 116,683 | 8,152 | 27,522 | 1,485 | 144,205 | 9,637 | |||||||
Total mortgage-backed securities | 248,853 | 11,990 | 48,211 | 2,804 | 297,064 | 14,794 | |||||||
Total available for sale securities | 335,030 | 14,778 | 50,928 | 2,818 | 385,958 | 17,596 | |||||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | 72,269 | 468 | - | - | 72,269 | 468 | |||||||
Total temporarily impaired securities | $ | 407,299 | $ | 15,246 | $ | 50,928 | $ | 2,818 | $ | 458,227 | $ | 18,064 | |
31-Dec-12 | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 13,265 | $ | 67 | $ | 2,967 | $ | 2 | $ | 16,232 | $ | 69 | |
State and political subdivisions | 8,471 | 72 | - | - | 8,471 | 72 | |||||||
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 25,200 | 188 | - | - | 25,200 | 188 | |||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | - | - | 1,173 | 2 | 1,173 | 2 | |||||||
Total collateralized mortgage obligations | - | - | 1,173 | 2 | 1,173 | 2 | |||||||
Total mortgage-backed securities | 25,200 | 188 | 1,173 | 2 | 26,373 | 190 | |||||||
Total temporarily impaired securities | $ | 46,936 | $ | 327 | $ | 4,140 | $ | 4 | $ | 51,076 | $ | 331 | |
The total number of security positions in the investment portfolio in an unrealized loss position at December 31, 2013 was 331 compared to 52 at December 31, 2012. At December 31, 2013, the Company had positions in 14 investment securities with a fair value of $50.9 million and a total unrealized loss of $2.8 million that have been in a continuous unrealized loss position for more than 12 months. There were a total of 317 securities positions in the Company's investment portfolio, with a fair value of $407.3 million and a total unrealized loss of $15.2 million at December 31, 2013, that have been in a continuous unrealized loss position for less than 12 months. There were no unrealized losses in held to maturity securities at December 31, 2012. The unrealized loss on these investment securities was predominantly caused by changes in market interest rates subsequent to purchase. The fair value of most of the investment securities in the Company's portfolio fluctuates as market interest rates change. | |||||||||||||
The Company reviews investment securities on an ongoing basis for the presence of other than temporary impairment ("OTTI") with formal reviews performed quarterly. When evaluating debt securities for OTTI, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the Company has the intention to sell the debt security or whether it is more likely than not that it will be required to sell the debt security before its anticipated recovery. The assessment of whether OTTI exists involves a high degree of subjectivity and judgment and is based on the information available to management. | |||||||||||||
No impairment was recorded during the year ended December 31, 2013. During the years ended December 31, 2012 and 2011, the Company recognized OTTI charges of $91 thousand and $18 thousand, respectively, related to privately issued whole loan CMOs that were determined to be impaired due to credit quality. | |||||||||||||
Based on management's review and evaluation of the Company's debt securities as of December 31, 2013, the debt securities with unrealized losses were not considered to be OTTI. As of December 31, 2013, the Company does not have the intent to sell any of the securities in a loss position and believes that it is not likely that it will be required to sell any such securities before the anticipated recovery of amortized cost. Accordingly, as of December 31, 2013, management has concluded that unrealized losses on its investment securities are temporary and no further impairment loss has been realized in the Company's consolidated statements of income. | |||||||||||||
Loans_Held_For_Sale_And_Loan_S
Loans Held For Sale And Loan Servicing Rights | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Loans Held For Sale And Loan Servicing Rights [Abstract] | ' | |||||||||
Loans Held For Sale And Loan Servicing Rights | ' | |||||||||
(4.) LOANS HELD FOR SALE AND LOAN SERVICING RIGHTS | ||||||||||
Loans held for sale were entirely comprised of residential real estate mortgages and totaled 3.4 million and $1.5 million as of December 31, 2013 and 2012, respectively. | ||||||||||
The Company sells certain qualifying newly originated or refinanced residential real estate mortgages on the secondary market. Residential real estate mortgages serviced for others, which are not included in the consolidated statements of financial condition, amounted to $237.9 million and $273.3 million as of December 31, 2013 and 2012, respectively. In connection with these mortgage-servicing activities, the Company administered escrow and other custodial funds which amounted to approximately $4.9 million and $5.6 million as of December 31, 2013 and 2012, respectively. | ||||||||||
The activity in capitalized mortgage servicing assets is summarized as follows for the years ended December 31 (in thousands): | ||||||||||
2013 | 2012 | 2011 | ||||||||
Mortgage servicing assets, beginning of year | $ | 1,637 | $ | 1,609 | $ | 1,642 | ||||
Originations | 277 | 554 | 319 | |||||||
Amortization | (435 | ) | (526 | ) | (352 | ) | ||||
Mortgage servicing assets, end of year | 1,479 | 1,637 | 1,609 | |||||||
Valuation allowance | (3 | ) | (168 | ) | (210 | ) | ||||
Mortgage servicing assets, net, end of year | $ | 1,476 | $ | 1,469 | $ | 1,399 | ||||
Loans
Loans | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Loans [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||||||
Loans | ' | |||||||||||||||||||||||||||||||||||||||||||
(5.) LOANS | ||||||||||||||||||||||||||||||||||||||||||||
The Company's loan portfolio consisted of the following at December 31 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||
Principal | Net Deferred | |||||||||||||||||||||||||||||||||||||||||||
Amount | Loan (Fees) | |||||||||||||||||||||||||||||||||||||||||||
Outstanding | Costs | Loans, Net | ||||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | $ | 265,751 | $ | 15 | $ | 265,766 | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 470,312 | (1,028 | ) | 469,284 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 113,101 | (56 | ) | 113,045 | ||||||||||||||||||||||||||||||||||||||||
Home equity | 320,658 | 5,428 | 326,086 | |||||||||||||||||||||||||||||||||||||||||
Consumer indirect | 609,390 | 26,978 | 636,368 | |||||||||||||||||||||||||||||||||||||||||
Other consumer | 22,893 | 177 | 23,070 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,802,105 | $ | 31,514 | 1,833,619 | |||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (26,736 | ) | ||||||||||||||||||||||||||||||||||||||||||
Total loans, net | $ | 1,806,883 | ||||||||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | $ | 258,706 | $ | (31 | ) | $ | 258,675 | |||||||||||||||||||||||||||||||||||||
Commercial mortgage | 414,282 | (958 | ) | 413,324 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 133,341 | 179 | 133,520 | |||||||||||||||||||||||||||||||||||||||||
Home equity | 282,503 | 4,146 | 286,649 | |||||||||||||||||||||||||||||||||||||||||
Consumer indirect | 559,964 | 26,830 | 586,794 | |||||||||||||||||||||||||||||||||||||||||
Other consumer | 26,657 | 107 | 26,764 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,675,453 | $ | 30,273 | 1,705,726 | |||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (24,714 | ) | ||||||||||||||||||||||||||||||||||||||||||
Total loans, net | $ | 1,681,012 | ||||||||||||||||||||||||||||||||||||||||||
The Company's significant concentrations of credit risk in the loan portfolio relate to a geographic concentration in the communities that the Company serves. | ||||||||||||||||||||||||||||||||||||||||||||
Certain executive officers, directors and their business interests are customers of the Company. Transactions with these parties are based on substantially the same terms as similar transactions with unrelated third parties and do not carry more than normal credit risk. Borrowings by these related parties amounted to $2.9 million and $292 thousand at December 31, 2013 and 2012, respectively. During 2013, new borrowings amounted to $2.7 million (including borrowings of executive officers and directors that were outstanding at the time of their election), and repayments and other reductions were $79 thousand. | ||||||||||||||||||||||||||||||||||||||||||||
Past Due Loans Aging | ||||||||||||||||||||||||||||||||||||||||||||
The Company's recorded investment, by loan class, in current and nonaccrual loans, as well as an analysis of accruing delinquent loans is set forth as of December 31 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||
Greater | ||||||||||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | Than 90 | Total Past | Total | ||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | Days | Due | Nonaccrual | Current | Loans | ||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | $ | 558 | $ | 199 | $ | - | $ | 757 | $ | 3,474 | $ | 261,520 | $ | 265,751 | ||||||||||||||||||||||||||||||
Commercial mortgage | 800 | - | - | 800 | 9,663 | 459,849 | 470,312 | |||||||||||||||||||||||||||||||||||||
Residential mortgage | 542 | - | - | 542 | 1,078 | 111,481 | 113,101 | |||||||||||||||||||||||||||||||||||||
Home equity | 750 | 143 | - | 893 | 925 | 318,840 | 320,658 | |||||||||||||||||||||||||||||||||||||
Consumer indirect | 2,129 | 476 | - | 2,605 | 1,471 | 605,314 | 609,390 | |||||||||||||||||||||||||||||||||||||
Other consumer | 126 | 72 | 6 | 204 | 5 | 22,684 | 22,893 | |||||||||||||||||||||||||||||||||||||
Total loans, gross | $ | 4,905 | $ | 890 | $ | 6 | $ | 5,801 | $ | 16,616 | $ | 1,779,688 | $ | 1,802,105 | ||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | $ | 160 | $ | - | $ | - | $ | 160 | $ | 3,413 | $ | 255,133 | $ | 258,706 | ||||||||||||||||||||||||||||||
Commercial mortgage | 331 | - | - | 331 | 1,799 | 412,152 | 414,282 | |||||||||||||||||||||||||||||||||||||
Residential mortgage | 376 | - | - | 376 | 2,040 | 130,925 | 133,341 | |||||||||||||||||||||||||||||||||||||
Home equity | 675 | 10 | - | 685 | 939 | 280,879 | 282,503 | |||||||||||||||||||||||||||||||||||||
Consumer indirect | 1,661 | 163 | - | 1,824 | 891 | 557,249 | 559,964 | |||||||||||||||||||||||||||||||||||||
Other consumer | 127 | 35 | 18 | 180 | 25 | 26,452 | 26,657 | |||||||||||||||||||||||||||||||||||||
Total loans, gross | $ | 3,330 | $ | 208 | $ | 18 | $ | 3,556 | $ | 9,107 | $ | 1,662,790 | $ | 1,675,453 | ||||||||||||||||||||||||||||||
There were no loans past due greater than 90 days and still accruing interest as of December 31, 2013 and December 31, 2012. There were $6 thousand and $18 thousand in consumer overdrafts which were past due greater than 90 days as of December 31, 2013 and December 31, 2012, respectively. Consumer overdrafts are overdrawn deposit accounts which have been reclassified as loans but by their terms do not accrue interest. | ||||||||||||||||||||||||||||||||||||||||||||
Interest income on nonaccrual loans, if recognized, is recorded using the cash basis method of accounting. There was no interest income recognized on nonaccrual loans during the years ended December 31, 2013, 2012 and 2011. For the years ended December 31, 2013, 2012 and 2011, estimated interest income of $531 thousand, $555 thousand, and $438 thousand, respectively, would have been recorded if all such loans had been accruing interest according to their original contractual terms. | ||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | ||||||||||||||||||||||||||||||||||||||||||||
A modification of a loan constitutes a troubled debt restructuring ("TDR") when a borrower is experiencing financial difficulty and the modification constitutes a concession. The Company offers various types of concessions when modifying loans, however, forgiveness of principal is rarely granted. Commercial loans modified in a TDR may involve temporary interest-only payments, term extensions, reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, requesting additional collateral, releasing collateral for consideration, or substituting or adding a new borrower or guarantor. | ||||||||||||||||||||||||||||||||||||||||||||
The following presents, by loan class, information related to loans modified in a TDR during the years ended December 31 (in thousands). | ||||||||||||||||||||||||||||||||||||||||||||
Pre - | Post- | |||||||||||||||||||||||||||||||||||||||||||
Modification | Modification | |||||||||||||||||||||||||||||||||||||||||||
Outstanding | Outstanding | |||||||||||||||||||||||||||||||||||||||||||
Number of | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||||||
Contracts | Investment | Investment | ||||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | 4 | $ | 1,465 | $ | 1,456 | |||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 2 | 7,335 | 6,935 | |||||||||||||||||||||||||||||||||||||||||
Total | 6 | $ | 8,800 | $ | 8,391 | |||||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | 3 | $ | 536 | $ | 536 | |||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 4 | 648 | 648 | |||||||||||||||||||||||||||||||||||||||||
Total | 7 | $ | 1,184 | $ | 1,184 | |||||||||||||||||||||||||||||||||||||||
With the exception of one commercial mortgage loan modified during 2013, all of the loans identified as TDRs by the Company during the years ended December 31, 2013 and 2012 were on nonaccrual status and reported as impaired loans prior to restructuring. For the year ended December 31, 2013, restructured loan modifications of commercial business and commercial mortgage loans primarily included maturity date extensions, payment schedule modifications and forgiveness of principal. For the year ended December 31, 2012, restructured loan modifications of commercial business and commercial mortgage loans primarily included payment schedule modifications and releasing collateral in consideration of payment. All loans restructured during the years ended December 31, 2013 and 2012 were on nonaccrual status at the end of those respective years. Nonaccrual loans that are restructured remain on nonaccrual status, but may move to accrual status after they have performed according to the restructured terms for a period of time. The TDR classification did not have a material impact on the Company's determination of the allowance for loan losses because the modified loans were either classified as substandard, with an increased risk allowance allocation, or impaired and evaluated for a specific reserve both before and after restructuring. | ||||||||||||||||||||||||||||||||||||||||||||
For purposes of this disclosure, a loan modified as a TDR is considered to have defaulted when the borrower becomes 90 days past due. There were no loans modified as a TDR during the previous 12 months which subsequently defaulted during the year ended December 31, 2013. One commercial business loan restructured during 2012 with a balance of $52 thousand defaulted during the year ended December 31, 2012. This default did not significantly impact the Company's determination of the allowance for loan losses. | ||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||||||||||||||||||||||||||
Management has determined that specific commercial loans on nonaccrual status and all loans that have had their terms restructured in a troubled debt restructuring are impaired loans. The following table presents data on impaired loans at December 31 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | ||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | ||||||||||||||||||||||||||||||||||||||||
Investment(1) | Balance(1) | Allowance | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | $ | 1,777 | $ | 2,273 | $ | - | $ | 659 | $ | - | ||||||||||||||||||||||||||||||||||
Commercial mortgage | 875 | 906 | - | 760 | - | |||||||||||||||||||||||||||||||||||||||
2,652 | 3,179 | - | 1,419 | - | ||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | 1,697 | 1,717 | 201 | 3,196 | - | |||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 8,788 | 9,188 | 1,057 | 3,758 | - | |||||||||||||||||||||||||||||||||||||||
10,485 | 10,905 | 1,258 | 6,954 | - | ||||||||||||||||||||||||||||||||||||||||
$ | 13,137 | $ | 14,084 | $ | 1,258 | $ | 8,373 | $ | - | |||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | $ | 963 | $ | 1,425 | $ | - | $ | 755 | $ | - | ||||||||||||||||||||||||||||||||||
Commercial mortgage | 911 | 1,002 | - | 1,310 | - | |||||||||||||||||||||||||||||||||||||||
1,874 | 2,427 | - | 2,065 | - | ||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | 2,450 | 2,450 | 664 | 2,114 | - | |||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 888 | 888 | 310 | 1,858 | - | |||||||||||||||||||||||||||||||||||||||
3,338 | 3,338 | 974 | 3,972 | - | ||||||||||||||||||||||||||||||||||||||||
$ | 5,212 | $ | 5,765 | $ | 974 | $ | 6,037 | $ | - | |||||||||||||||||||||||||||||||||||
(1) Difference between recorded investment and unpaid principal balance represents partial charge-offs. | ||||||||||||||||||||||||||||||||||||||||||||
Credit Quality Indicators | ||||||||||||||||||||||||||||||||||||||||||||
The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors such as the fair value of collateral. The Company analyzes commercial business and commercial mortgage loans individually by classifying the loans as to credit risk. Risk ratings are updated any time the situation warrants. The Company uses the following definitions for risk ratings: Special Mention: Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company's credit position at some future date. | ||||||||||||||||||||||||||||||||||||||||||||
Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | ||||||||||||||||||||||||||||||||||||||||||||
Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | ||||||||||||||||||||||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the process described above are considered "Uncriticized" or pass-rated loans and are included in groups of homogeneous loans with similar risk and loss characteristics. | ||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth the Company's commercial loan portfolio, categorized by internally assigned asset classification, as of December 31 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | |||||||||||||||||||||||||||||||||||||||||||
Business | Mortgage | |||||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
Uncriticized | $ | 250,553 | $ | 449,447 | ||||||||||||||||||||||||||||||||||||||||
Special mention | 6,311 | 6,895 | ||||||||||||||||||||||||||||||||||||||||||
Substandard | 8,887 | 13,970 | ||||||||||||||||||||||||||||||||||||||||||
Doubtful | - | - | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 265,751 | $ | 470,312 | ||||||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
Uncriticized | $ | 240,291 | $ | 400,576 | ||||||||||||||||||||||||||||||||||||||||
Special mention | 6,591 | 6,495 | ||||||||||||||||||||||||||||||||||||||||||
Substandard | 11,824 | 7,211 | ||||||||||||||||||||||||||||||||||||||||||
Doubtful | - | - | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 258,706 | $ | 414,282 | ||||||||||||||||||||||||||||||||||||||||
The Company utilizes payment status as a means of identifying and reporting problem and potential problem retail loans. The Company considers nonaccrual loans and loans past due greater than 90 days and still accruing interest to be non-performing. The following table sets forth the Company's retail loan portfolio, categorized by payment status, as of December 31 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Home | Consumer | Other | |||||||||||||||||||||||||||||||||||||||||
Mortgage | Equity | Indirect | Consumer | |||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
Performing | $ | 112,023 | $ | 319,733 | $ | 607,919 | $ | 22,882 | ||||||||||||||||||||||||||||||||||||
Non-performing | 1,078 | 925 | 1,471 | 11 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 113,101 | $ | 320,658 | $ | 609,390 | $ | 22,893 | ||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
Performing | $ | 131,301 | $ | 281,564 | $ | 559,073 | $ | 26,632 | ||||||||||||||||||||||||||||||||||||
Non-performing | 2,040 | 939 | 891 | 25 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 133,341 | $ | 282,503 | $ | 559,964 | $ | 26,657 | ||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||||||||||||||||
The following tables set forth the changes in the allowance for loan losses for the years ended December 31 (in thousands): | ||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Home | Consumer | Other | |||||||||||||||||||||||||||||||||||||||
Business | Mortgage | Mortgage | Equity | Indirect | Consumer | Total | ||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,884 | $ | 6,581 | $ | 740 | $ | 1,282 | $ | 10,715 | $ | 512 | $ | 24,714 | ||||||||||||||||||||||||||||||
Charge-offs | (1,070 | ) | (553 | ) | (411 | ) | (391 | ) | (8,125 | ) | (928 | ) | (11,478 | ) | ||||||||||||||||||||||||||||||
Recoveries | 349 | 319 | 54 | 157 | 3,161 | 381 | 4,421 | |||||||||||||||||||||||||||||||||||||
Provision | 110 | 1,396 | 293 | 319 | 6,479 | 482 | 9,079 | |||||||||||||||||||||||||||||||||||||
Ending balance | $ | 4,273 | $ | 7,743 | $ | 676 | $ | 1,367 | $ | 12,230 | $ | 447 | $ | 26,736 | ||||||||||||||||||||||||||||||
Evaluated for impairment: | ||||||||||||||||||||||||||||||||||||||||||||
Individually | $ | 201 | $ | 1,057 | $ | - | $ | - | $ | - | $ | - | $ | 1,258 | ||||||||||||||||||||||||||||||
Collectively | $ | 4,072 | $ | 6,686 | $ | 676 | $ | 1,367 | $ | 12,230 | $ | 447 | $ | 25,478 | ||||||||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 265,751 | $ | 470,312 | $ | 113,101 | $ | 320,658 | $ | 609,390 | $ | 22,893 | $ | 1,802,105 | ||||||||||||||||||||||||||||||
Evaluated for impairment: | ||||||||||||||||||||||||||||||||||||||||||||
Individually | $ | 3,474 | $ | 9,663 | $ | - | $ | - | $ | - | $ | - | $ | 13,137 | ||||||||||||||||||||||||||||||
Collectively | $ | 262,277 | $ | 460,649 | $ | 113,101 | $ | 320,658 | $ | 609,390 | $ | 22,893 | $ | 1,788,968 | ||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,036 | $ | 6,418 | $ | 858 | $ | 1,242 | $ | 10,189 | $ | 517 | $ | 23,260 | ||||||||||||||||||||||||||||||
Charge-offs | (729 | ) | (745 | ) | (326 | ) | (305 | ) | (6,589 | ) | (874 | ) | (9,568 | ) | ||||||||||||||||||||||||||||||
Recoveries | 336 | 261 | 130 | 44 | 2,769 | 354 | 3,894 | |||||||||||||||||||||||||||||||||||||
Provision | 1,241 | 647 | 78 | 301 | 4,346 | 515 | 7,128 | |||||||||||||||||||||||||||||||||||||
Ending balance | $ | 4,884 | $ | 6,581 | $ | 740 | $ | 1,282 | $ | 10,715 | $ | 512 | $ | 24,714 | ||||||||||||||||||||||||||||||
Evaluated for impairment: | ||||||||||||||||||||||||||||||||||||||||||||
Individually | $ | 664 | $ | 310 | $ | - | $ | - | $ | - | $ | - | $ | 974 | ||||||||||||||||||||||||||||||
Collectively | $ | 4,220 | $ | 6,271 | $ | 740 | $ | 1,282 | $ | 10,715 | $ | 512 | $ | 23,740 | ||||||||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 258,706 | $ | 414,282 | $ | 133,341 | $ | 282,503 | $ | 559,964 | $ | 26,657 | $ | 1,675,453 | ||||||||||||||||||||||||||||||
Evaluated for impairment: | ||||||||||||||||||||||||||||||||||||||||||||
Individually | $ | 3,413 | $ | 1,799 | $ | - | $ | - | $ | - | $ | - | $ | 5,212 | ||||||||||||||||||||||||||||||
Collectively | $ | 255,293 | $ | 412,483 | $ | 133,341 | $ | 282,503 | $ | 559,964 | $ | 26,657 | $ | 1,670,241 | ||||||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 3,712 | $ | 6,431 | $ | 1,013 | $ | 972 | $ | 7,754 | $ | 584 | $ | 20,466 | ||||||||||||||||||||||||||||||
Charge-offs | (1,346 | ) | (751 | ) | (152 | ) | (449 | ) | (4,713 | ) | (877 | ) | (8,288 | ) | ||||||||||||||||||||||||||||||
Recoveries | 401 | 245 | 90 | 44 | 2,066 | 456 | 3,302 | |||||||||||||||||||||||||||||||||||||
Provision (credit) | 1,269 | 493 | (93 | ) | 675 | 5,082 | 354 | 7,780 | ||||||||||||||||||||||||||||||||||||
Ending balance | $ | 4,036 | $ | 6,418 | $ | 858 | $ | 1,242 | $ | 10,189 | $ | 517 | $ | 23,260 | ||||||||||||||||||||||||||||||
Evaluated for impairment: | ||||||||||||||||||||||||||||||||||||||||||||
Individually | $ | 436 | $ | 644 | $ | - | $ | - | $ | - | $ | - | $ | 1,080 | ||||||||||||||||||||||||||||||
Collectively | $ | 3,600 | $ | 5,774 | $ | 858 | $ | 1,242 | $ | 10,189 | $ | 517 | $ | 22,180 | ||||||||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 233,727 | $ | 394,034 | $ | 113,865 | $ | 227,853 | $ | 465,807 | $ | 24,138 | $ | 1,459,424 | ||||||||||||||||||||||||||||||
Evaluated for impairment: | ||||||||||||||||||||||||||||||||||||||||||||
Individually | $ | 1,259 | $ | 2,928 | $ | - | $ | - | $ | - | $ | - | $ | 4,187 | ||||||||||||||||||||||||||||||
Collectively | $ | 232,468 | $ | 391,106 | $ | 113,865 | $ | 227,853 | $ | 465,807 | $ | 24,138 | $ | 1,455,237 | ||||||||||||||||||||||||||||||
Risk Characteristics | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business loans primarily consist of loans to small to mid-sized businesses in our market area in a diverse range of industries. These loans are of higher risk and typically are made on the basis of the borrower's ability to make repayment from the cash flow of the borrower's business. Further, the collateral securing the loans may depreciate over time, may be difficult to appraise and may fluctuate in value. The credit risk related to commercial loans is largely influenced by general economic conditions and the resulting impact on a borrower's operations or on the value of underlying collateral, if any. | ||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans generally have larger balances and involve a greater degree of risk than residential mortgage loans, inferring higher potential losses on an individual customer basis. Loan repayment is often dependent on the successful operation and management of the properties, as well as on the collateral securing the loan. Economic events or conditions in the real estate market could have an adverse impact on the cash flows generated by properties securing the Company's commercial real estate loans and on the value of such properties. | ||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans and home equities (comprised of home equity loans and home equity lines) are generally made on the basis of the borrower's ability to make repayment from his or her employment and other income, but are secured by real property whose value tends to be more easily ascertainable. Credit risk for these types of loans is generally influenced by general economic conditions, the characteristics of individual borrowers, and the nature of the loan collateral. | ||||||||||||||||||||||||||||||||||||||||||||
Consumer indirect and other consumer loans may entail greater credit risk than residential mortgage loans and home equities, particularly in the case of other consumer loans which are unsecured or, in the case of indirect consumer loans, secured by depreciable assets, such as automobiles or boats. In such cases, any repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance. In addition, consumer loan collections are dependent on the borrower's continuing financial stability, and thus are more likely to be affected by adverse personal circumstances such as job loss, illness or personal bankruptcy. Furthermore, the application of various federal and state laws, including bankruptcy and insolvency laws, may limit the amount which can be recovered on such loans. | ||||||||||||||||||||||||||||||||||||||||||||
Premises_And_Equipment_Net
Premises And Equipment, Net | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Premises And Equipment, Net [Abstract] | ' | ||||||
Premises And Equipment, Net | ' | ||||||
(6.) PREMISES AND EQUIPMENT, NET | |||||||
Major classes of premises and equipment at December 31 are summarized as follows (in thousands): | |||||||
2013 | 2012 | ||||||
Land and land improvements | $ | 4,883 | $ | 4,883 | |||
Buildings and leasehold improvements | 44,830 | 43,402 | |||||
Furniture, fixtures, equipment and vehicles | 25,464 | 24,440 | |||||
Premises and equipment | 75,177 | 72,725 | |||||
Accumulated depreciation and amortization | (39,168 | ) | (36,107 | ) | |||
Premises and equipment, net | $ | 36,009 | $ | 36,618 | |||
Depreciation and amortization expense relating to premises and equipment, included in occupancy and equipment expense in the consolidated statements of income, amounted to $3.8 million, $3.6 million and $3.5 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||
Goodwill_And_Other_Intangible_
Goodwill And Other Intangible Assets | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Goodwill And Other Intangible Assets [Abstract] | ' | ||||||
Goodwill And Other Intangible Assets | ' | ||||||
(7.) GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||
The change in the balance for goodwill during the years ended December 31, 2013 and 2012 was as follows (in thousands): | |||||||
2013 | 2012 | ||||||
Goodwill, beginning of year | $ | 48,536 | $ | 37,369 | |||
Branch acquisitions | - | 11,167 | |||||
Impairment | - | - | |||||
Goodwill, end of year | $ | 48,536 | $ | 48,536 | |||
Pursuant to the adoption of ASU 2011-08 in 2012, the Company first performed a qualitative assessment of goodwill at the reporting unit level, the Bank, to determine if it was more likely than not that the fair value of the reporting unit is less than its carrying value. In performing a qualitative analysis, factors considered include, but are not limited to, business strategy, financial performance and market and regulatory dynamics. The results of the qualitative assessment for 2013 indicated that it was not more likely than not that the fair value of the reporting unit is less than its carrying value. Consequently, no additional quantitative two-step impairment test was required, and no impairment was recorded in 2013. In 2012 and 2011 (prior to the adoption of ASU 2011-08) the Company performed a quantitative impairment test that did not result in any impairment. | |||||||
Declines in the market value of the Company's publicly traded stock price or declines in the Company's ability to generate future cash flows may increase the potential that goodwill recorded on the Company's consolidated statement of financial condition be designated as impaired and that the Company may incur a goodwill write-down in the future. | |||||||
The Company's other intangible assets consisted entirely of a core deposit intangible asset. Changes in the accumulated amortization and net book value were as follows (in thousands): | |||||||
2013 | 2012 | ||||||
Gross carrying amount | $ | 2,042 | $ | 2,042 | |||
Accumulated amortization | (576 | ) | (189 | ) | |||
Net book value | $ | 1,466 | $ | 1,853 | |||
Amortization during the year | $ | 387 | $ | 189 | |||
There were no core deposit intangible assets or amortization expense for the year ended December 31, 2011. | |||||||
Estimated core deposit intangible amortization expense for each of the next five years is as follows: | |||||||
2014 | $ | 341 | |||||
2015 | 296 | ||||||
2016 | 251 | ||||||
2017 | 205 | ||||||
2018 | 160 | ||||||
Deposits
Deposits | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Deposits: | ' | ||||||
Deposits | ' | ||||||
(8.) DEPOSITS | |||||||
A summary of deposits as of December 31 are as follows (in thousands): | |||||||
2013 | 2012 | ||||||
Noninterest-bearing demand | $ | 535,472 | $ | 501,514 | |||
Interest-bearing demand | 470,733 | 449,744 | |||||
Savings and money market | 717,928 | 655,598 | |||||
Certificates of deposit, due: | |||||||
Within one year | 448,997 | 495,423 | |||||
One to two years | 77,219 | 91,052 | |||||
Two to three years | 23,642 | 35,993 | |||||
Three to five years | 46,045 | 31,721 | |||||
Thereafter | 20 | 749 | |||||
Total certificates of deposit | 595,923 | 654,938 | |||||
Total deposits | $ | 2,320,056 | $ | 2,261,794 | |||
Certificates of deposit in denominations of $100,000 or more at December 31, 2013 and 2012 amounted to $226.0 million and $222.4 million, respectively. | |||||||
Interest expense by deposit type for the years ended December 31 is summarized as follows (in thousands): | |||||||
2013 | 2012 | 2011 | |||||
Interest-bearing demand | $ | 729 | $ | 598 | $ | 614 | |
Savings and money market | 978 | 998 | 1,056 | ||||
Certificates of deposit | 4,893 | 6,866 | 9,764 | ||||
Total interest expense on deposits | $ | 6,600 | $ | 8,462 | $ | 11,434 | |
Borrowings
Borrowings | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Borrowings [Abstract] | ' | ||||
Borrowings | ' | ||||
(9.) BORROWINGS | |||||
There were no long-term borrowings outstanding as of December 31, 2013 and 2012. Outstanding short-term borrowings are summarized as follows as of December 31 (in thousands): | |||||
2013 | 2012 | ||||
Short-term borrowings: | |||||
Repurchase agreements | $ | 39,042 | $ | 40,806 | |
Short-term FHLB borrowings | 298,000 | 139,000 | |||
Total short-term borrowings | $ | 337,042 | $ | 179,806 | |
The Company classifies borrowings as short-term or long-term in accordance with the original terms of the agreement. At December 31, 2013 and 2012, the Company's short-term borrowings had a weighted average rate of 0.38% and 0.54%, respectively. | |||||
Federal funds purchased are short-term borrowings that typically mature within one to ninety days. Short-term repurchase agreements are secured overnight borrowings with customers. Short-term FHLB borrowings have original maturities of less than one year and include overnight borrowings which the Company typically utilizes to address short term funding needs as they arise. Short-term FHLB borrowings at December 31, 2013 consisted of $198.0 million in overnight borrowings and $100.0 million in short-term advances. Short-term FHLB borrowings at December 31, 2012 consisted of $99.0 million in overnight borrowings and $40.0 million in short-term advances. | |||||
Long-term Borrowings | |||||
The Company has credit capacity with the FHLB and can borrow through facilities that include an overnight line of credit, amortizing and term advances, and repurchase agreements. The FHLB credit capacity is collateralized by securities from the Company's investment portfolio and certain qualifying loans. The Company may be required to provide additional collateral based on the fair value of the underlying securities. There were no FHLB long-term borrowings outstanding as of December 31, 2013 and 2012. | |||||
In February 2001, the Company formed Financial Institutions Statutory Trust I (the "Trust") for the sole purpose of issuing trust preferred securities. The Company's $502 thousand investment in the common equity of the Trust was classified in the consolidated statements of financial condition as other assets and $16.7 million of related 10.20% junior subordinated debentures were classified as long-term borrowings. In 2001, the Company incurred costs relating to the issuance of the debentures totaling $487 thousand. These costs, which were included in other assets on the consolidated statements of financial condition, were deferred and were being amortized to interest expense using the straight-line method over a twenty year period. | |||||
In August 2011, the Company redeemed all of the 10.20% junior subordinated debentures at a redemption price equaling 105.1% of the principal amount redeemed, plus all accrued and unpaid interest. As a result of the redemption, the Company recognized a loss on extinguishment of debt of $1.1 million, consisting of the redemption premium of $852 thousand and the write-off of the remaining unamortized issuance costs of $231 thousand. | |||||
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies [Abstract] | ' | ||||
Commitments And Contingencies | ' | ||||
(10.) COMMITMENTS AND CONTINGENCIES | |||||
Financial Instruments with Off-Balance Sheet Risk | |||||
The Company has financial instruments with off-balance sheet risk established in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk extending beyond amounts recognized in the financial statements. | |||||
The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is essentially the same as that involved with extending loans to customers. The Company uses the same credit underwriting policies in making commitments and conditional obligations as for on-balance sheet instruments. | |||||
Off-balance sheet commitments as of December 31 consist of the following (in thousands): | |||||
2013 | 2012 | ||||
Commitments to extend credit | $ | 431,236 | $ | 435,948 | |
Standby letters of credit | 8,618 | 9,223 | |||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the agreement. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Commitments may expire without being drawn upon; therefore the total commitment amounts do not necessarily represent future cash requirements. Each customer's creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if any, is based on management's credit evaluation of the borrower. Standby letters of credit are conditional lending commitments issued by the Company to guarantee the performance of a customer to a third party. These standby letters of credit are primarily issued to support private borrowing arrangements. The credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loan facilities to customers. | |||||
The Company also extends rate lock agreements to borrowers related to the origination of residential mortgage loans. To mitigate the interest rate risk inherent in these rate lock agreements when the Company intends to sell the related loan, once originated, as well as closed residential mortgage loans held for sale, the Company enters into forward commitments to sell individual residential mortgages. Rate lock agreements and forward commitments are considered derivatives and are recorded at fair value. There were no forward sales commitments outstanding as of December 31, 2013 and $1.8 million outstanding as of December 31, 2012. In addition, the net change in the fair values of these derivatives was recognized as other noninterest income or other noninterest expense in the consolidated statements of income. | |||||
Lease Obligations | |||||
The Company is obligated under a number of noncancellable operating lease agreements for land, buildings and equipment. Certain of these leases provide for escalation clauses and contain renewal options calling for increased rentals if the lease is renewed. Future minimum payments by year and in the aggregate, under the noncancellable leases with initial or remaining terms of one year or more, are as follows at December 31, 2013 (in thousands): | |||||
2014 | $ | 1,440 | |||
2015 | 1,381 | ||||
2016 | 1,273 | ||||
2017 | 878 | ||||
2018 | 626 | ||||
Thereafter | 3,796 | ||||
$ | 9,394 | ||||
Rent expense relating to these operating leases, included in occupancy and equipment expense in the statements of income, was $1.7 million, $1.6 million and $1.5 million in 2013, 2012 and 2011, respectively. | |||||
Contingent Liabilities | |||||
In the ordinary course of business there are various threatened and pending legal proceedings against the Company. Based on consultation with outside legal counsel, management believes that the aggregate liability, if any, arising from such litigation would not have a material adverse effect on the Company's consolidated financial statements. | |||||
Regulatory_Matters
Regulatory Matters | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Regulatory Matters [Abstract] | ' | |||||||||||||
Regulatory Matters | ' | |||||||||||||
(11.) REGULATORY MATTERS | ||||||||||||||
General | ||||||||||||||
The supervision and regulation of financial and bank holding companies and their subsidiaries is intended primarily for the protection of depositors, the deposit insurance funds regulated by the FDIC and the banking system as a whole, and not for the protection of shareholders or creditors of bank holding companies. The various bank regulatory agencies have broad enforcement power over financial holding companies and banks, including the power to impose substantial fines, operational restrictions and other penalties for violations of laws and regulations and for safety and soundness considerations. | ||||||||||||||
Capital | ||||||||||||||
Banks and financial holding companies are subject to various regulatory capital requirements administered by state and federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material impact on the Company's consolidated financial statements. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weighting and other factors. | ||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios of Total and Tier 1 capital to risk-weighted assets and of Tier 1 capital to average assets (all as defined in the regulations). These minimum amounts and ratios are included in the table below. | ||||||||||||||
The Company's and the Bank's Tier 1 capital consists of shareholders' equity excluding unrealized gains and losses on securities available for sale (except for unrealized losses which have been determined to be other than temporary and recognized as expense in the consolidated statements of income), goodwill and other intangible assets and disallowed portions of deferred tax assets. Tier 1 capital for the Company includes, subject to limitation, $17.3 million of preferred stock. The Company and the Bank's total capital are comprised of Tier 1 capital for each entity plus a permissible portion of the allowance for loan losses. | ||||||||||||||
The Tier 1 and total risk-based capital ratios are calculated by dividing the respective capital amounts by risk-weighted assets. Risk-weighted assets are calculated based on regulatory requirements and include total assets, excluding goodwill and other intangible assets and disallowed portions of deferred tax assets, allocated by risk weight category and certain off-balance-sheet items (primarily loan commitments). The leverage ratio is calculated by dividing Tier 1 capital by adjusted quarterly average total assets, which exclude goodwill and other intangible assets and disallowed portions of deferred tax assets. | ||||||||||||||
The Company's and the Bank's actual and required regulatory capital ratios were as follows as of December 31 (in thousands): | ||||||||||||||
For Capital | ||||||||||||||
Actual | Adequacy Purposes | Well Capitalized | ||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||
2013 | ||||||||||||||
Tier 1 leverage: | Company | $ | 215,024 | 7.63 | % | $ | 112,660 | 4 | % | $ | 140,825 | 5 | % | |
Bank | 204,336 | 7.27 | 112,498 | 4 | 140,622 | 5 | ||||||||
Tier 1 capital: | Company | 215,024 | 10.82 | 79,459 | 4 | 119,188 | 6 | |||||||
Bank | 204,336 | 10.31 | 79,291 | 4 | 118,937 | 6 | ||||||||
Total risk-based capital: | Company | 239,878 | 12.08 | 158,918 | 8 | 198,647 | 10 | |||||||
Bank | 229,139 | 11.56 | 158,583 | 8 | 198,228 | 10 | ||||||||
2012 | ||||||||||||||
Tier 1 leverage: | Company | $ | 200,255 | 7.71 | % | $ | 103,845 | 4 | % | $ | 129,806 | 5 | % | |
Bank | 192,136 | 7.41 | 103,681 | 4 | 129,601 | 5 | ||||||||
Tier 1 capital: | Company | 200,255 | 10.73 | 74,681 | 4 | 112,022 | 6 | |||||||
Bank | 192,136 | 10.31 | 74,526 | 4 | 111,789 | 6 | ||||||||
Total risk-based capital: | Company | 223,610 | 11.98 | 149,363 | 8 | 186,703 | 10 | |||||||
Bank | 215,443 | 11.56 | 149,052 | 8 | 186,315 | 10 | ||||||||
As of December 31, 2013, the Company and Bank were considered "well capitalized" under all regulatory capital guidelines. Such determination has been made based on the Tier 1 leverage, Tier 1 capital and total risk-based capital ratios. | ||||||||||||||
Federal Reserve Requirements | ||||||||||||||
The Bank is required to maintain a reserve balance at the FRB of New York. The reserve requirement for the Bank totaled $1.0 million as of December 31, 2013 and 2012. | ||||||||||||||
Dividend Restrictions | ||||||||||||||
In the ordinary course of business, the Company is dependent upon dividends from the Bank to provide funds for the payment of dividends to shareholders and to provide for other cash requirements. Banking regulations may limit the amount of dividends that may be paid. Approval by regulatory authorities is required if the effect of dividends declared would cause the regulatory capital of the Bank to fall below specified minimum levels. Approval is also required if dividends declared exceed the net profits for that year combined with the retained net profits for the preceding two years. | ||||||||||||||
Shareholders_Equity
Shareholders' Equity | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Shareholders' Equity [Abstract] | ' | |||||
Shareholders' Equity | ' | |||||
(12.) SHAREHOLDERS' EQUITY | ||||||
The Company's authorized capital stock consists of 50,210,000 shares of capital stock, 50,000,000 of which are common stock, par value $0.01 per share, and 210,000 of which are preferred stock, par value $100 per share, which is designated into two classes, Class A of which 10,000 shares are authorized, and Class B of which 200,000 shares are authorized. There are two series of Class A preferred stock: Series A 3% preferred stock and the Series A preferred stock. There is one series of Class B preferred stock: Series B-1 8.48% preferred stock. There were 173,423 shares and 174,709 shares of preferred stock issued and outstanding as of December 31, 2013 and 2012, respectively. | ||||||
Common Stock | ||||||
The following table sets forth the changes in the number of shares of common stock for the years ended December 31: | ||||||
Outstanding | Treasury | Issued | ||||
2013 | ||||||
Shares outstanding at beginning of year | 13,787,709 | 373,888 | 14,161,597 | |||
Restricted stock awards issued, net of forfeitures | 24,058 | (24,058 | ) | - | ||
Stock options exercised | 23,265 | (23,265 | ) | - | ||
Treasury stock purchases | (11,349 | ) | 11,349 | - | ||
Directors' retainer | 5,672 | (5,672 | ) | - | ||
Shares outstanding at end of year | 13,829,355 | 332,242 | 14,161,597 | |||
2012 | ||||||
Shares outstanding at beginning of year | 13,803,116 | 358,481 | 14,161,597 | |||
Restricted stock awards issued, net of forfeitures | 7,857 | (7,857 | ) | - | ||
Stock options exercised | 4,250 | (4,250 | ) | - | ||
Treasury stock purchases | (33,330 | ) | 33,330 | - | ||
Directors' retainer | 5,816 | (5,816 | ) | - | ||
Shares outstanding at end of year | 13,787,709 | 373,888 | 14,161,597 | |||
Preferred Stock | ||||||
Series A 3% Preferred Stock. There were 1,496 shares and 1,499 shares of Series A 3% preferred stock issued and outstanding as of December 31, 2013 and 2012, respectively. Holders of Series A 3% preferred stock are entitled to receive an annual dividend of $3.00 per share, which is cumulative and payable quarterly. Holders of Series A 3% preferred stock have no pre-emptive right in, or right to purchase or subscribe for, any additional shares of the Company's capital stock and have no voting rights. Dividend or dissolution payments to the Class A shareholders must be declared and paid, or set apart for payment, before any dividends or dissolution payments can be declared and paid, or set apart for payment, to the holders of Class B preferred stock or common stock. The Series A 3% preferred stock is not convertible into any other of the Company's securities. | ||||||
Series B-1 8.48% Preferred Stock. There were 171,927 shares and 173,210 shares of Series B-1 8.48% preferred stock issued and outstanding as of December 31, 2013 and 2012, respectively. Holders of Series B-1 8.48% preferred stock are entitled to receive an annual dividend of $8.48 per share, which is cumulative and payable quarterly. Holders of Series B-1 8.48% preferred stock have no pre-emptive right in, or right to purchase or subscribe for, any additional shares of the Company's common stock and have no voting rights. Accumulated dividends on the Series B-1 8.48% preferred stock do not bear interest, and the Series B-1 8.48% preferred stock is not subject to redemption. Dividend or dissolution payments to the Class B shareholders must be declared and paid, or set apart for payment, before any dividends or dissolution payments are declared and paid, or set apart for payment, to the holders of common stock. The Series B-1 8.48% preferred stock is not convertible into any other of the Company's securities. | ||||||
Redemption of Series A Preferred Stock and Warrant | ||||||
In December 2008, under the Treasury's TARP Capital Purchase Program, the Company entered into a Securities Purchase Agreement -Standard Terms with the Treasury pursuant to which, among other things, the Company sold to the Treasury for an aggregate purchase price of $37.5 million, 7,503 shares of fixed rate cumulative perpetual preferred stock, Series A ("Series A" preferred stock) and a warrant to purchase up to 378,175 shares of the Company's common stock, par value $0.01 per share, at an exercise price of $14.88 per share (the "Warrant"), of the Company. | ||||||
Pursuant to the terms of the Purchase Agreement, the Company's ability to declare or pay dividends on any of its shares was limited. Specifically, the Company was prohibited from paying any dividend with respect to shares of common stock, other junior securities or preferred stock ranking pari passu with the Series A preferred stock or repurchasing or redeeming any shares of the Company's common stock, other junior securities or preferred stock ranking pari passu with the Series A preferred stock in any quarter unless all accrued and unpaid dividends were paid on the Series A preferred stock for all past dividend periods (including the latest completed dividend period), subject to certain limited exceptions. | ||||||
The $37.5 million in proceeds was allocated to the Series A preferred stock and the Warrant based on their relative fair values at issuance ($35.5 million was allocated to the Series A preferred stock and $2.0 million to the Warrant). The resulting discount for the Series A preferred stock was to be accreted over five years through retained earnings as a preferred stock dividend. The Warrant was to remain in additional paid-in-capital at its initial book value until it was exercised or expired. | ||||||
In February 2011, the Company redeemed one-third, or $12.5 million, of the Series A preferred stock. In March 2011, the remaining $25.0 million of the Series A preferred stock was redeemed. The unamortized discount related to the Series A preferred stock was charged to retained earnings upon redemption. The complete redemption of the Series A preferred stock removed the TARP restrictions pertaining to the Company's ability to declare and pay dividends and repurchase its common stock, as well as certain restrictions associated with executive compensation. | ||||||
In May 2011, the Company repurchased the Warrant issued to the Treasury. The repurchase price of $2.1 million was recorded as a reduction of additional paid-in capital. | ||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | |||||||||
Accumulated Other Comprehensive Income (Loss) | ' | |||||||||
(13.) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||
The following table presents the components of other comprehensive income (loss) for the years ended December 31 (in thousands): | ||||||||||
Pre-tax | Net-of-tax | |||||||||
Amount | Tax Effect | Amount | ||||||||
2013 | ||||||||||
Securities available for sale and transferred securities: | ||||||||||
Change in unrealized gain/loss during the period | $ | (34,135 | ) | $ | (13,522 | ) | $ | (20,613 | ) | |
Change in net unrealized gain on securities transferred to held to maturity | (72 | ) | (29 | ) | (43 | ) | ||||
Reclassification adjustment for net gains included in net income | (1,226 | ) | (485 | ) | (741 | ) | ||||
Total securities available for sale and transferred securities | (35,433 | ) | (14,036 | ) | (21,397 | ) | ||||
Pension and post-retirement obligations: | ||||||||||
Net actuarial gain (loss), net of amortization | 13,223 | 5,238 | 7,985 | |||||||
Prior service cost, net of amortization | (47 | ) | (19 | ) | (28 | ) | ||||
Total pension and post-retirement obligations | 13,176 | 5,219 | 7,957 | |||||||
Other comprehensive loss | $ | (22,257 | ) | $ | (8,817 | ) | $ | (13,440 | ) | |
2012 | ||||||||||
Securities available for sale: | ||||||||||
Change in unrealized gain/loss during the period | $ | 6,682 | $ | 2,646 | $ | 4,036 | ||||
Reclassification adjustment for gains included in income | (2,651 | ) | (1,050 | ) | (1,601 | ) | ||||
Reclassification adjustment for impairment charges included in income | 91 | 36 | 55 | |||||||
Total securities available for sale | 4,122 | 1,632 | 2,490 | |||||||
Pension and post-retirement obligations: | ||||||||||
Net actuarial gain (loss), net of amortization | (253 | ) | (99 | ) | (154 | ) | ||||
Prior service cost, net of amortization | (47 | ) | (19 | ) | (28 | ) | ||||
Total pension and post-retirement obligations | (300 | ) | (118 | ) | (182 | ) | ||||
Other comprehensive income | $ | 3,822 | $ | 1,514 | $ | 2,308 | ||||
2011 | ||||||||||
Securities available for sale: | ||||||||||
Change in unrealized gain/loss during the period | $ | 22,350 | $ | 8,855 | $ | 13,495 | ||||
Reclassification adjustment for gains included in income | (3,003 | ) | (1,190 | ) | (1,813 | ) | ||||
Reclassification adjustment for impairment charges included in income | 18 | 7 | 11 | |||||||
Total securities available for sale | 19,365 | 7,672 | 11,693 | |||||||
Pension and post-retirement obligations: | ||||||||||
Net actuarial gain (loss), net of amortization | (9,930 | ) | (3,934 | ) | (5,996 | ) | ||||
Prior service cost, net of amortization | (49 | ) | (19 | ) | (30 | ) | ||||
Total pension and post-retirement obligations | (9,979 | ) | (3,953 | ) | (6,026 | ) | ||||
Other comprehensive income | $ | 9,386 | $ | 3,719 | $ | 5,667 | ||||
Activity in accumulated other comprehensive income (loss), net of tax, was as follows (in thousands): | ||||||||||
Securities | ||||||||||
Available for | Pension and | Accumulated | ||||||||
Sale and | Post- | Other | ||||||||
Transferred | retirement | Comprehensive | ||||||||
Securities | Obligations | Income (Loss) | ||||||||
Balance at January 1, 2013 | $ | 16,060 | $ | (12,807 | ) | $ | 3,253 | |||
Other comprehensive (loss) income before reclassifications | (20,656 | ) | 7,173 | (13,483 | ) | |||||
Amounts reclassified from accumulated other comprehensive income | (741 | ) | 784 | 43 | ||||||
Net current period other comprehensive (loss) income | (21,397 | ) | 7,957 | (13,440 | ) | |||||
Balance at December 31, 2013 | $ | (5,337 | ) | $ | (4,850 | ) | $ | (10,187 | ) | |
Balance at January 1, 2012 | $ | 13,570 | $ | (12,625 | ) | $ | 945 | |||
Other comprehensive income (loss) before reclassifications | 4,036 | (981 | ) | 3,055 | ||||||
Amounts reclassified from accumulated other comprehensive income | (1,546 | ) | 799 | (747 | ) | |||||
Net current period other comprehensive income (loss) | 2,490 | (182 | ) | 2,308 | ||||||
Balance at December 31, 2012 | $ | 16,060 | $ | (12,807 | ) | $ | 3,253 | |||
Balance at January 1, 2011 | $ | 1,877 | $ | (6,599 | ) | $ | (4,722 | ) | ||
Other comprehensive income (loss) before reclassifications | 13,495 | (6,363 | ) | 7,132 | ||||||
Amounts reclassified from accumulated other comprehensive loss | (1,802 | ) | 337 | (1,465 | ) | |||||
Net current period other comprehensive income (loss) | 11,693 | (6,026 | ) | 5,667 | ||||||
Balance at December 31, 2011 | $ | 13,570 | $ | (12,625 | ) | $ | 945 | |||
ShareBased_Compensation
Share-Based Compensation | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Share-Based Compensation [Abstract] | ' | |||||||
Share-Based Compensation | ' | |||||||
(14.) SHARE-BASED COMPENSATION | ||||||||
The Company maintains certain stock-based compensation plans, approved by the Company's shareholders that are administered by the Board, or the Management Development and Compensation Committee (the "Compensation Committee") of the Board. In May 2009, the shareholders of the Company approved two share-based compensation plans, the 2009 Management Stock Incentive Plan ("Management Plan") and the 2009 Directors' Stock Incentive Plan ("Director's Plan"), and collectively with the Management Plan, "the Plans". An aggregate of 690,000 shares of the Company's common stock have been reserved for issuance by the Company under the terms of the Management Plan pursuant to the grant of incentive stock options (not to exceed 500,000 shares), non-qualified stock options and restricted stock grants, all of which are defined in the plan. An aggregate of 250,000 shares of the Company's common stock have been reserved for issuance by the Company under the terms of the Director's Plan pursuant to the grant of non-qualified stock options and restricted stock grants, all of which are defined in the plan. Under both plans, for purposes of calculating the number of shares of common stock available for issuance, each share of common stock granted pursuant to a restricted stock grant shall count as 1.64 shares of common stock. As of December 31, 2013, there were approximately 185,000 and 425,000 shares available for grant under the Director's Plan and Management Plan, respectively, of which 61% were available for issuance as restricted stock grants. | ||||||||
Under the Plans, the Board, in the case of the Director's Plan, or the Compensation Committee, in the case of the Management Plan, may establish and prescribe grant guidelines including various terms and conditions for the granting of stock-based compensation. For stock options, the exercise price of each option equals the market price of the Company's stock on the date of the grant. All options expire after a period of ten years from the date of grant and generally become fully exercisable over a period of 3 to 5 years from the grant date. When an option recipient exercises their options, the Company issues shares from treasury stock and records the proceeds as additions to capital. Shares of restricted stock granted to employees generally vest over 2 to 3 years from the grant date. Fifty percent of the shares of restricted stock granted to non-employee directors generally vests on the date of grant and the remaining fifty percent generally vests one year from the grant date. Vesting of the shares may be based on years of service, established performance measures or both. If restricted stock grants are forfeited before they vest, the shares are reacquired into treasury stock. | ||||||||
The share-based compensation plans were established to allow for the granting of compensation awards to attract, motivate and retain employees, executive officers and non-employee directors who contribute to the success and profitability of the Company and to give such persons a proprietary interest in the Company, thereby enhancing their personal interest in the Company's success. | ||||||||
The Company awarded grants of 33,035 shares of restricted common stock to certain members of management during the year ended December 31, 2013. Fifty percent of the shares subject to each grant will be earned based upon achievement of an EPS performance requirement for the Company's fiscal year ended December 31, 2013. The remaining fifty percent of the shares will be earned based on the Company's achievement of a relative total shareholder return ("TSR") performance requirement, on a percentile basis, compared to a defined group of peer companies over a three-year performance period ended December 31, 2015. The shares earned based on the achievement of the EPS and TSR performance requirements, if any, will vest based on the recipient's continuous service to the Company on December 31, 2015. | ||||||||
The grant-date fair value of the TSR portion of the award granted during the year ended December 31, 2013 was determined using the Monte Carlo simulation model on the date of grant, assuming the following (i) expected term of 2.88 years, (ii) risk free interest rate of 0.42%, (iii) expected dividend yield of 3.59% and (iv) expected stock price volatility over the expected term of the TSR award of 37.2%. The grant-date fair value of all other restricted stock awards is equal to the closing market price of our common stock on the date of grant. | ||||||||
In addition, the Company granted 1,000 shares of restricted common stock to management during the year ended December 31, 2013. The shares will vest after completion of a three-year service requirement. The market price of the restricted stock on the date of grant was $20.70. | ||||||||
During the year ended December 31, 2013, the Company granted 9,000 shares of restricted common stock to directors, of which 4,500 shares vested immediately and 4,500 shares will vest after completion of a one-year service requirement. The market price of the restricted stock on the date of grant was $19.81. | ||||||||
The restricted stock awards granted to management and directors in 2013 do not have rights to dividends or dividend equivalents. | ||||||||
The Company uses the Black-Scholes valuation method to estimate the fair value of its stock option awards. There were no stock options awarded during 2013, 2012 or 2011. There was no unrecognized compensation expense related to unvested stock options as of December 31, 2013. The following is a summary of stock option activity for the year ended December 31, 2013 (dollars in thousands, except per share amounts): | ||||||||
Weighted | ||||||||
Weighted | Average | |||||||
Average | Remaining | Aggregate | ||||||
Number of | Exercise | Contractual | Intrinsic | |||||
Options | Price | Term | Value | |||||
Outstanding at beginning of year | 319,275 | $ | 20.22 | |||||
Granted | - | - | ||||||
Exercised | (23,265 | ) | 19.31 | |||||
Forfeited | - | |||||||
Expired | (103,076 | ) | 21.15 | |||||
Outstanding and exercisable at end of period | 192,934 | $ | 19.83 | 2.6 years | $ | 940 | ||
The aggregate intrinsic value (the amount by which the market price of the stock on the date of exercise exceeded the market price of the stock on the date of grant) of option exercises for the years ended December 31, 2013, 2012 and 2011 was $106 thousand, $10 thousand, and $31 thousand, respectively. The total cash received as a result of option exercises under stock compensation plans for the years ended December 31, 2013, 2012 and 2011 was $448 thousand, $69 thousand, and $91 thousand, respectively. The tax benefits realized in connection with these stock option exercises were not significant. | ||||||||
The following is a summary of restricted stock award activity for the year ended December 31, 2013: | ||||||||
Weighted | ||||||||
Average | ||||||||
Market | ||||||||
Number of | Price at | |||||||
Shares | Grant Date | |||||||
Outstanding at beginning of year | 79,580 | $ | 16.89 | |||||
Granted | 43,035 | 16.94 | ||||||
Vested | (38,598 | ) | 17.04 | |||||
Forfeited | (18,977 | ) | 16.6 | |||||
Outstanding at end of period | 65,040 | $ | 16.92 | |||||
As of December 31, 2013, there was $325 thousand of unrecognized compensation expense related to unvested restricted stock awards that is expected to be recognized over a weighted average period of 1.6 years. | ||||||||
The Company amortizes the expense related to restricted stock awards over the vesting period. Share-based compensation expense is recorded as a component of salaries and employee benefits in the consolidated statements of income for awards granted to management and as a component of other noninterest expense for awards granted to directors. The share-based compensation expense for the years ended December 31 was as follows (in thousands): | ||||||||
2013 | 2012 | 2011 | ||||||
Salaries and employee benefits | $ | 236 | $ | 394 | $ | 972 | ||
Other noninterest expense | 171 | 132 | 133 | |||||
Total share-based compensation expense | $ | 407 | $ | 526 | $ | 1,105 | ||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Income Taxes [Abstract] | ' | |||||||
Income Taxes | ' | |||||||
(15.) INCOME TAXES | ||||||||
The income tax expense for the years ended December 31 consisted of the following (in thousands): | ||||||||
2013 | 2012 | 2011 | ||||||
Current tax expense: | ||||||||
Federal | $ | 8,917 | $ | 4,021 | $ | 3,747 | ||
State | 1,913 | 955 | 1,158 | |||||
Total current tax expense | 10,830 | 4,976 | 4,905 | |||||
Deferred tax expense: | ||||||||
Federal | 1,251 | 5,262 | 5,584 | |||||
State | 296 | 1,081 | 926 | |||||
Total deferred tax expense | 1,547 | 6,343 | 6,510 | |||||
Total income tax expense | $ | 12,377 | $ | 11,319 | $ | 11,415 | ||
Income tax expense differed from the statutory federal income tax rate for the years ended December 31 as follows: | ||||||||
2013 | 2012 | 2011 | ||||||
Statutory federal tax rate | 35 | % | 35 | % | 35 | % | ||
Increase (decrease) resulting from: | ||||||||
Tax exempt interest income | (4.8 | ) | (4.6 | ) | (4.3 | ) | ||
Non-taxable earnings on company owned life insurance | (1.6 | ) | (1.8 | ) | (1.5 | ) | ||
State taxes, net of federal tax benefit | 3.8 | 3.8 | 4 | |||||
Nondeductible expenses | 0.2 | 0.3 | 0.4 | |||||
Other, net | 0.1 | (0.1 | ) | (0.2 | ) | |||
Effective tax rate | 32.7 | % | 32.6 | % | 33.4 | % | ||
Total income tax expense (benefit) was allocated as follows for the years ended December 31 (in thousands): | ||||||||
2013 | 2012 | 2011 | ||||||
Income tax expense | $ | 12,377 | $ | 11,319 | $ | 11,415 | ||
Shareholder's equity | (8,817 | ) | 1,514 | 3,718 | ||||
The Company's net deferred tax asset is included in other assets in the consolidated statements of condition. The tax effects of temporary differences that give rise to the deferred tax assets and deferred tax liabilities are as follows at December 31 (in thousands): | ||||||||
2013 | 2012 | |||||||
Deferred tax assets: | ||||||||
Allowance for loan losses | $ | 10,591 | $ | 9,791 | ||||
Net unrealized loss on securities available for sale | 3,501 | - | ||||||
Other than temporary impairment of investment securities | 2,728 | 5,283 | ||||||
Deferred compensation | 873 | 868 | ||||||
Share-based compensation | 753 | 1,111 | ||||||
SERP agreements | 709 | 734 | ||||||
Interest on nonaccrual loans | 662 | 732 | ||||||
Other | 814 | 1,060 | ||||||
Gross deferred tax assets | 20,631 | 19,579 | ||||||
Deferred tax liabilities: | ||||||||
Prepaid pension costs | 6,185 | 1,648 | ||||||
Depreciation and amortization | 1,606 | 1,827 | ||||||
Loan servicing assets | 620 | 681 | ||||||
Net unrealized gain on securities available for sale | - | 10,536 | ||||||
Other | 63 | - | ||||||
Gross deferred tax liabilities | 8,474 | 14,692 | ||||||
Net deferred tax asset | $ | 12,157 | $ | 4,887 | ||||
The Company recognizes deferred income taxes for the estimated future tax effects of differences between the tax and financial statement bases of assets and liabilities considering enacted tax laws. These differences result in deferred tax assets and liabilities, which are included in other assets in the Company's consolidated statements of condition. The Company also assesses the likelihood that deferred tax assets will be realizable based on, among other considerations, future taxable income and establishes, if necessary, a valuation allowance for those deferred tax assets determined to not likely be realizable. A deferred tax asset valuation allowance is recognized if, based on the weight of available evidence (both positive and negative), it is more likely than not that some portion or all of the deferred tax assets will not be realized. The future realization of deferred tax benefits depends upon the existence of sufficient taxable income within the carry-back and carry-forward periods. Management's judgment is required in determining the appropriate recognition of deferred tax assets and liabilities, including projections of future taxable income. | ||||||||
Based upon the Company's historical and projected future levels of pre-tax and taxable income, the scheduled reversals of taxable temporary differences to offset future deductible amounts, and prudent and feasible tax planning strategies, management believes it is more likely than not that the deferred tax assets will be realized. As such, no valuation allowance has been recorded as of December 31, 2013 or 2012. | ||||||||
The Company and its subsidiaries are subject to federal and New York State ("NYS") income taxes. The federal and NYS income tax years currently open for audits are 2010 through 2013. | ||||||||
At December 31, 2013, the Company had no federal or NYS net operating loss or tax credit carryforwards. | ||||||||
The Company's unrecognized tax benefits and changes in unrecognized tax benefits were not significant as of or for the years ended December 31, 2013 and 2012. There were no interest or penalties recorded in the income statement in income tax expense for the year ended December 31, 2013. As of December 31, 2013, there were no amounts accrued for interest or penalties related to uncertain tax positions. | ||||||||
Earnings_Per_Common_Share
Earnings Per Common Share | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Common Share [Abstract] | ' | |||||||||
Earnings Per Common Share | ' | |||||||||
(16.) EARNINGS PER COMMON SHARE | ||||||||||
The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS for each of the years ended December 31 (in thousands, except per share amounts). | ||||||||||
2013 | 2012 | 2011 | ||||||||
Net income available to common shareholders | $ | 24,064 | $ | 21,975 | $ | 19,617 | ||||
Less: Earnings allocated to participating securities | - | 2 | 38 | |||||||
Net income available to common shareholders for EPS | $ | 24,064 | $ | 21,973 | $ | 19,579 | ||||
Weighted average common shares outstanding: | ||||||||||
Total shares issued | 14,162 | 14,162 | 13,599 | |||||||
Unvested restricted stock awards | (69 | ) | (107 | ) | (166 | ) | ||||
Treasury shares | (354 | ) | (359 | ) | (366 | ) | ||||
Total basic weighted average common shares outstanding | 13,739 | 13,696 | 13,067 | |||||||
Incremental shares from assumed: | ||||||||||
Exercise of stock options | 13 | 4 | 3 | |||||||
Vesting of restricted stock awards | 32 | 51 | 65 | |||||||
Exercise of warrant | - | - | 22 | |||||||
Total diluted weighted average common shares outstanding | 13,784 | 13,751 | 13,157 | |||||||
Basic earnings per common share | $ | 1.75 | $ | 1.6 | $ | 1.5 | ||||
Diluted earnings per common share | $ | 1.75 | $ | 1.6 | $ | 1.49 | ||||
For each of the periods presented, average shares subject to the following instruments were excluded from the computation of diluted EPS because the effect would be antidilutive: | ||||||||||
Stock options | 122 | 303 | 339 | |||||||
Restricted stock awards | 2 | 1 | - | |||||||
124 | 304 | 339 | ||||||||
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Employee Benefit Plans [Abstract] | ' | |||||||||
Employee Benefit Plans | ' | |||||||||
(17.) EMPLOYEE BENEFIT PLANS | ||||||||||
Defined Benefit Pension Plan | ||||||||||
The Company participates in The New York State Bankers Retirement System (the "Plan"), a defined benefit pension plan covering substantially all employees, subject to the limitations related to the plan closure effective December 31, 2006. The benefits are based on years of service and the employee's highest average compensation during five consecutive years of employment. The defined benefit plan was closed to new participants effective December 31, 2006. Only employees hired on or before December 31, 2006 and who met participation requirements on or before January 1, 2008 are eligible to receive benefits. | ||||||||||
The following table provides a reconciliation of the Company's changes in the plan's benefit obligations, fair value of assets and a statement of the funded status as of and for the year ended December 31 (in thousands): | ||||||||||
2013 | 2012 | |||||||||
Change in projected benefit obligation: | ||||||||||
Projected benefit obligation at beginning of period | $ | 53,625 | $ | 48,303 | ||||||
Service cost | 2,063 | 2,037 | ||||||||
Interest cost | 2,017 | 2,017 | ||||||||
Actuarial (gain) loss | (6,393 | ) | 3,291 | |||||||
Benefits paid and plan expenses | (2,321 | ) | (2,023 | ) | ||||||
Projected benefit obligation at end of period | 48,991 | 53,625 | ||||||||
Change in plan assets: | ||||||||||
Fair value of plan assets at beginning of period | 57,785 | 46,943 | ||||||||
Actual return on plan assets | 9,139 | 4,865 | ||||||||
Employer contributions | - | 8,000 | ||||||||
Benefits paid and plan expenses | (2,321 | ) | (2,023 | ) | ||||||
Fair value of plan assets at end of period | 64,603 | 57,785 | ||||||||
Funded status at end of period | $ | 15,612 | $ | 4,160 | ||||||
The accumulated benefit obligation was $44.0 million and $48.0 million at December 31, 2013 and 2012, respectively. | ||||||||||
The Company's funding policy is to contribute, at a minimum, an actuarially determined amount that will satisfy the minimum funding requirements determined under the appropriate sections of Internal Revenue Code. The Company has no minimum required contribution for the 2014 fiscal year. | ||||||||||
Estimated benefit payments under the pension plan over the next ten years at December 31, 2013 are as follows (in thousands): | ||||||||||
2014 | $ | 1,709 | ||||||||
2015 | 1,868 | |||||||||
2016 | 2,094 | |||||||||
2017 | 2,277 | |||||||||
2018 | 2,339 | |||||||||
2019 - 2023 | 14,044 | |||||||||
Net periodic pension cost consists of the following components for the years ended December 31 (in thousands): | ||||||||||
2013 | 2012 | 2011 | ||||||||
Service cost | $ | 2,063 | $ | 2,037 | $ | 1,756 | ||||
Interest cost on projected benefit obligation | 2,017 | 2,017 | 2,027 | |||||||
Expected return on plan assets | (3,684 | ) | (3,211 | ) | (2,653 | ) | ||||
Amortization of unrecognized loss | 1,344 | 1,370 | 608 | |||||||
Amortization of unrecognized prior service cost | 20 | 20 | 19 | |||||||
Net periodic pension cost | $ | 1,760 | $ | 2,233 | $ | 1,757 | ||||
The actuarial assumptions used to determine the net periodic pension cost were as follows: | ||||||||||
2013 | 2012 | 2011 | ||||||||
Weighted average discount rate | 3.84 | % | 4.27 | % | 5.38 | % | ||||
Rate of compensation increase | 3 | % | 3 | % | 3 | % | ||||
Expected long-term rate of return | 6.5 | % | 7 | % | 7 | % | ||||
The actuarial assumptions used to determine the projected benefit obligation were as follows: | ||||||||||
2013 | 2012 | 2011 | ||||||||
Weighted average discount rate | 4.8 | % | 3.84 | % | 4.27 | % | ||||
Rate of compensation increase | 3 | % | 3 | % | 3 | % | ||||
The weighted average discount rate was based upon the projected benefit cash flows and the market yields of high grade corporate bonds that are available to pay such cash flows. | ||||||||||
The weighted average expected long term rate of return is estimated based on current trends in the Plan's assets as well as projected future rates of return on those assets and reasonable actuarial assumptions based on the guidance provided by Actuarial Standard of Practice No. 27, "Selection of Economic Assumptions for Measuring Pension Obligations" for long term inflation, and the real and nominal rate of investment return for a specific mix of asset classes. The following assumptions were used in determining the long term rate of return: | ||||||||||
Equity securities | Dividend discount model, the smoothed earnings yield model and the equity risk premium model | |||||||||
Fixed income securities | Current yield to maturity and forecasts of future yields | |||||||||
Other financial instruments | Comparison of the specific investment's risk to that of fixed income and equity instruments and using judgment | |||||||||
The long term rate of return considers historical returns. Adjustments were made to historical returns in order to reflect expectations of future returns. These adjustments were due to factor forecasts by economists and long term U.S. Treasury yields to forecast long term inflation. In addition forecasts by economists and others for long term GDP growth were factored into the development of assumptions for earnings growth and per capita income. | ||||||||||
The Plan's overall investment strategy is to achieve a mix of approximately 97% of investments for long-term growth and 3% for near-term benefit payments with a wide diversification of asset types, fund strategies, and fund managers. The target allocations for Plan assets are shown in the table below. Cash equivalents consist primarily of government issues (maturing in less than three months) and short term investment funds. Equity securities primarily include investments in common stock, depository receipts, preferred stock and real estate investment trusts. Fixed income securities include corporate bonds, government issues, mortgage backed securities, municipals and other asset backed securities. | ||||||||||
Effective February 2012, the Plan revised its investment guidelines. The Plan currently prohibits its investment managers from purchasing any security greater than 5% of the portfolio at the time of purchase or greater than 8% at market value in any one issuer. Effective June 2013, the issuer of any security purchased must be located in a country in the Morgan Stanley Capital International World Index. In addition, the following are prohibited: | ||||||||||
Equity securities | Short sales | |||||||||
Unregistered securities | ||||||||||
Margin purchases | ||||||||||
Fixed income securities | Mortgage backed derivatives that have an inverse floating rate coupon or that are interest only securities | |||||||||
Any ABS that is not issued by the U.S. Government or its agencies or its instrumentalities | ||||||||||
Generally securities of less than Baa2/BBB quality may not be purchased | ||||||||||
Securities of less than A-quality may not in the aggregate exceed 13% of the investment manager's portfolio. Prior to February 2012, these investments could not exceed 10% of the manager's portfolio. | ||||||||||
Effective February 2012, an investment manager's portfolio of commercial MBS and ABS shall not exceed 10% of the portfolio at the time of purchase. | ||||||||||
Other financial instruments | Unhedged currency exposure in countries not defined as "high income economies" by the World Bank | |||||||||
All other investments not prohibited by the Plan are permitted. At December 31, 2013 and 2012, the Plan held certain investments which are no longer deemed acceptable to acquire. These positions will be liquidated when the investment managers deem that such liquidation is in the best interest of the Plan. | ||||||||||
The target allocation range below is both historic and prospective in that it has not changed since prior to 2012. It is the asset allocation range that the investment managers have been advised to adhere to and within which they may make tactical asset allocation decisions. | ||||||||||
Weighted | ||||||||||
Average | ||||||||||
2014 | Percentage of Plan Assets | Expected | ||||||||
Target | at December 31, | Long-term | ||||||||
Allocation | 2013 | 2012 | Rate of Return | |||||||
Asset category: | ||||||||||
Cash equivalents | 0– 20 | % | 5.5 | % | 12.8 | % | 0.17 | % | ||
Equity securities | 40– 60 | 50.6 | 45.5 | 4.26 | ||||||
Fixed income securities | 40– 60 | 43.9 | 41.7 | 2.06 | ||||||
Other financial instruments | 0– 5 | - | - | - | ||||||
Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 utilized to measure fair value (see Note 18 - Fair Value Measurements). There were no assets classified as Level 3 assets during the years ended December 31, 2013 and 2012. | ||||||||||
In instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments valued using the NAV (Net Asset Value) are classified as level 2 if the Plan can redeem its investment with the investee at the NAV at the measurement date. If the Plan can never redeem the investment with the investee at the NAV, it is considered a level 3. If the Plan can redeem the investment at the NAV at a future date, the Plan's assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset. | ||||||||||
The Plan uses the Thomson Reuters Pricing Service to determine the fair value of equities and the pricing service of IDC Corporate USA to determine the fair value of fixed income securities. The major categories of Plan assets measured at fair value on a recurring basis as of December 31 are presented in the following table (in thousands). | ||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||
Inputs | Inputs | Inputs | Fair Value | |||||||
2013 | ||||||||||
Cash equivalents: | ||||||||||
Foreign currencies | 92 | - | - | 92 | ||||||
Government issues | - | 937 | - | 937 | ||||||
Short term investment funds | - | 2,498 | - | 2,498 | ||||||
Total cash equivalents | 92 | 3,435 | - | 3,527 | ||||||
Equity securities: | ||||||||||
Common stock | 32,072 | - | - | 32,072 | ||||||
Depository receipts | 309 | 96 | - | 405 | ||||||
Preferred stock | 151 | - | - | 151 | ||||||
Real estate investment fund | 94 | - | - | 94 | ||||||
Total equity securities | 32,626 | 96 | - | 32,722 | ||||||
Fixed income securities: | ||||||||||
Auto loan receivable | - | 232 | - | 232 | ||||||
Collateralized mortgage obligations | - | 7,079 | - | 7,079 | ||||||
Corporate Bonds | - | 7,609 | - | 7,609 | ||||||
FHLMC | - | 883 | - | 883 | ||||||
FNMA | - | 3,044 | - | 3,044 | ||||||
GNMA I | - | 215 | - | 215 | ||||||
GNMA II | - | 96 | - | 96 | ||||||
Government Issues | - | 8,984 | - | 8,984 | ||||||
Municipals | - | 212 | - | 212 | ||||||
Total fixed income securities | - | 28,354 | - | 28,354 | ||||||
Total Plan investments | $ | 32,718 | 31,885 | - | 64,603 | |||||
Level 1 | Level 2 | Level 3 | Total | |||||||
Inputs | Inputs | Inputs | Fair Value | |||||||
2012 | ||||||||||
Cash equivalents: | ||||||||||
Foreign currencies | 60 | - | - | 60 | ||||||
Government issues | - | 314 | - | 314 | ||||||
Short term investment funds | - | 7,083 | - | 7,083 | ||||||
Total cash equivalents | 60 | 7,397 | - | 7,457 | ||||||
Equity securities: | ||||||||||
Common stock | 25,447 | - | - | 25,447 | ||||||
Depository receipts | 569 | - | - | 569 | ||||||
Preferred stock | 113 | - | - | 113 | ||||||
Real estate investment fund | 113 | - | - | 113 | ||||||
Total equity securities | 26,242 | - | - | 26,242 | ||||||
Fixed income securities: | ||||||||||
Auto loan receivable | - | 313 | - | 313 | ||||||
Collateralized mortgage obligations | - | 6,262 | - | 6,262 | ||||||
Corporate Bonds | - | 5,456 | - | 5,456 | ||||||
FHLMC | - | 717 | - | 717 | ||||||
FNMA | - | 2,867 | - | 2,867 | ||||||
GNMA I | - | 31 | - | 31 | ||||||
GNMA II | - | 133 | - | 133 | ||||||
Government Issues | - | 8,231 | - | 8,231 | ||||||
Municipals | - | 63 | - | 63 | ||||||
Other Asset Backed | - | 13 | - | 13 | ||||||
Total fixed income securities | - | 24,086 | - | 24,086 | ||||||
Total Plan investments | $ | 26,302 | 31,483 | - | 57,785 | |||||
At December 31, 2013 the portfolio was managed by two investment firms, with control of the portfolio split approximately 58% and 41% under the control of the investment managers with the remaining 1% under the direct control of the Plan. A portfolio concentration in the State Street Bank & Trust Co. Short Term Investment Fund of 5% and 12% existed at December 31, 2013 and 2012, respectively. | ||||||||||
Postretirement Benefit Plan | ||||||||||
An entity acquired by the Company provided health and dental care benefits to retired employees who met specified age and service requirements through a postretirement health and dental care plan in which both the acquired entity and the retirees shared the cost. The plan provided for substantially the same medical insurance coverage as for active employees until their death and was integrated with Medicare for those retirees aged 65 or older. In 2001, the plan's eligibility requirements were amended to curtail eligible benefit payments to only retired employees and active employees who had already met the then-applicable age and service requirements under the Plan. In 2003, retirees under age 65 began contributing to health coverage at the same cost-sharing level as that of active employees. Retirees ages 65 or older were offered new Medicare supplemental plans as alternatives to the plan historically offered. The cost sharing of medical coverage was standardized throughout the group of retirees aged 65 or older. In addition, to be consistent with the administration of the Company's dental plan for active employees, all retirees who continued dental coverage began paying the full monthly premium. The accrued liability included in other liabilities in the consolidated statements of financial condition related to this plan amounted to $93 thousand and $118 thousand as of December 31, 2013 and 2012, respectively. The postretirement expense for the plan that was included in salaries and employee benefits in the consolidated statements of income was not significant for the years ended December 31, 2013, 2012 and 2011. The plan is not funded. | ||||||||||
The components of accumulated other comprehensive loss related to the defined benefit plan and postretirement benefit plan as of December 31 are summarized below (in thousands): | ||||||||||
2013 | 2012 | |||||||||
Defined benefit plan: | ||||||||||
Net actuarial loss | $ | (8,237 | ) | $ | (21,428 | ) | ||||
Prior service cost | (72 | ) | (93 | ) | ||||||
(8,309 | ) | (21,521 | ) | |||||||
Postretirement benefit plan: | ||||||||||
Net actuarial loss | (163 | ) | (195 | ) | ||||||
Prior service credit | 440 | 508 | ||||||||
277 | 313 | |||||||||
(8,032 | ) | (21,208 | ) | |||||||
Deferred tax benefit | 3,182 | 8,401 | ||||||||
Amounts included in accumulated other comprehensive loss | $ | (4,850 | ) | $ | (12,807 | ) | ||||
Changes in plan assets and benefit obligations recognized in other comprehensive loss on a pre-tax basis during the years ended December 31 are as follows (in thousands): | ||||||||||
2013 | 2012 | |||||||||
Defined benefit plan: | ||||||||||
Net actuarial gain (loss) | $ | 11,847 | $ | (1,638 | ) | |||||
Amortization of net loss | 1,344 | 1,370 | ||||||||
Amortization of prior service cost | 21 | 20 | ||||||||
13,212 | (248 | ) | ||||||||
Postretirement benefit plan: | ||||||||||
Net actuarial gain | 32 | 15 | ||||||||
Amortization of prior service credit | (68 | ) | (67 | ) | ||||||
(36 | ) | (52 | ) | |||||||
Total recognized in other comprehensive loss | $ | 13,176 | $ | (300 | ) | |||||
For the year ending December 31, 2014, the estimated net loss and prior service cost for the plan that will be amortized from accumulated other comprehensive income into net periodic benefit cost is $159 thousand and $20 thousand, respectively. | ||||||||||
Defined Contribution Plan | ||||||||||
Employees that meet specified eligibility conditions are eligible to participate in the Company sponsored 401(k) plan. Under the plan, participants may make contributions, in the form of salary deferrals, up to the maximum Internal Revenue Code limit. The Company matches a participant's contributions up to 4.5% of compensation, calculated at 100% of the first 3% of compensation and 50% of the next 3% of compensation deferred by the participant. The Company may also make additional discretionary matching contributions, although no such additional discretionary contributions were made in 2013, 2012 or 2011. The expense included in salaries and employee benefits in the consolidated statements of income for this plan amounted to $1.1 million in 2013 and $1.0 million in 2012 and 2011. | ||||||||||
Supplemental Executive Retirement Plans | ||||||||||
The Company has non-qualified Supplemental Executive Retirement Plans ("SERPs") covering four former executives. The unfunded pension liability related to the SERPs was $2.1 million and $2.2 million at December 31, 2013 and 2012, respectively. SERP expense was $95 thousand, $1.3 million, and $67 thousand for 2013, 2012 and 2011, respectively. | ||||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||
Fair Value Measurements | ' | |||||||||
(18.) FAIR VALUE MEASUREMENTS | ||||||||||
Determination of Fair Value – Assets Measured at Fair Value on a Recurring and Nonrecurring Basis Valuation Hierarchy | ||||||||||
The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. ASC Topic 820, "Fair Value Measurements and Disclosures," establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: | ||||||||||
· Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. | ||||||||||
· Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. | ||||||||||
· Level 3 - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity's own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. | ||||||||||
In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect counterparty credit quality and the company's creditworthiness, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. The Company's valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company's valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Furthermore, the reported fair value amounts have not been comprehensively revalued since the presentation dates, and therefore, estimates of fair value after the balance sheet date may differ significantly from the amounts presented herein. A more detailed description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. | ||||||||||
Securities available for sale: Securities classified as available for sale are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond's terms and conditions, among other things. | ||||||||||
Loans held for sale: The fair value of loans held for sale is determined using quoted secondary market prices and investor commitments. Loans held for sale are classified as Level 2 in the fair value hierarchy. | ||||||||||
Collateral dependent impaired loans: Fair value of impaired loans with specific allocations of the allowance for loan losses is measured based on the value of the collateral securing these loans and is classified as Level 3 in the fair value hierarchy. Collateral may be real estate and/or business assets including equipment, inventory and/or accounts receivable and collateral value is determined based on appraisals performed by qualified licensed appraisers hired by the Company. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Appraised and reported values may be discounted based on management's historical knowledge, changes in market conditions from the time of valuation, and/or management's expertise and knowledge of the client and the client's business. Such discounts are typically significant and result in a Level 3 classification of the inputs for determining fair value. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the same factors identified above. | ||||||||||
Loan servicing rights: Loan servicing rights do not trade in an active market with readily observable market data. As a result, the Company estimates the fair value of loan servicing rights by using a discounted cash flow model to calculate the present value of estimated future net servicing income. The assumptions used in the discounted cash flow model are those that we believe market participants would use in estimating future net servicing income, including estimates of loan prepayment rates, servicing costs, ancillary income, impound account balances, and discount rates. The significant unobservable inputs used in the fair value measurement of the Company's loan servicing rights are the constant prepayment rates and weighted average discount rate. Significant increases (decreases) in any of those inputs in isolation could result in a significantly lower (higher) fair value measurement. Although the constant prepayment rate and the discount rate are not directly interrelated, they will generally move in opposite directions. Loan servicing rights are classified as Level 3 measurements due to the use of significant unobservable inputs, as well as significant management judgment and estimation. | ||||||||||
Other real estate owned (Foreclosed assets): Nonrecurring adjustments to certain commercial and residential real estate properties classified as other real estate owned are measured at the lower of carrying amount or fair value, less costs to sell. Fair values are generally based on third party appraisals of the property, resulting in a Level 3 classification. The appraisals are sometimes further discounted based on management's historical knowledge, changes in market conditions from the time of valuation, and/or management's expertise and knowledge of the client and client's business. Such discounts are typically significant and result in a Level 3 classification of the inputs for determining fair value. In cases where the carrying amount exceeds the fair value, less costs to sell, an impairment loss is recognized. | ||||||||||
Commitments to extend credit and letters of credit: Commitments to extend credit and fund letters of credit are principally at current interest rates, and, therefore, the carrying amount approximates fair value. The fair value of commitments to is not material. | ||||||||||
Assets Measured at Fair Value | ||||||||||
The following table presents for each of the fair-value hierarchy levels the Company's assets that are measured at fair value on a recurring and non-recurring basis as of December 31 (in thousands). | ||||||||||
Quoted Prices in | ||||||||||
Active Markets | Significant | |||||||||
for Identical | Other | Significant | ||||||||
Assets or | Observable | Unobservable | ||||||||
Liabilities | Inputs | Inputs | ||||||||
(Level 1) | (Level 2) | (Level 3) | Total | |||||||
2013 | ||||||||||
Measured on a recurring basis: | ||||||||||
Securities available for sale: | ||||||||||
U.S. Government agencies and government sponsored enterprises | $ | - | $ | 134,452 | $ | - | $ | 134,452 | ||
Mortgage-backed securities | - | 474,549 | - | 474,549 | ||||||
Asset-backed securities | - | 399 | - | 399 | ||||||
$ | - | $ | 609,400 | $ | - | $ | 609,400 | |||
Measured on a nonrecurring basis: | ||||||||||
Loans: | ||||||||||
Loans held for sale | $ | - | $ | 3,381 | $ | - | $ | 3,381 | ||
Collateral dependent impaired loans | - | - | 9,227 | 9,227 | ||||||
Other assets: | ||||||||||
Loan servicing rights | - | - | 1,565 | 1,565 | ||||||
Other real estate owned | - | - | 333 | 333 | ||||||
$ | - | $ | 3,381 | $ | 11,125 | $ | 14,506 | |||
2012 | ||||||||||
Measured on a recurring basis: | ||||||||||
Securities available for sale: | ||||||||||
U.S. Government agencies and government sponsored enterprises | $ | - | $ | 131,695 | $ | - | $ | 131,695 | ||
State and political subdivisions | - | 195,210 | - | 195,210 | ||||||
Mortgage-backed securities | - | 495,868 | - | 495,868 | ||||||
Asset-backed securities | 1,023 | 1,023 | ||||||||
$ | - | $ | 823,796 | $ | - | $ | 823,796 | |||
Measured on a nonrecurring basis: | ||||||||||
Loans: | ||||||||||
Loans held for sale | $ | - | $ | 1,518 | $ | - | $ | 1,518 | ||
Collateral dependent impaired loans | - | - | 2,364 | 2,364 | ||||||
Other assets: | ||||||||||
Loan servicing rights | - | - | 1,719 | 1,719 | ||||||
Other real estate owned | - | - | 184 | 184 | ||||||
$ | - | $ | 1,518 | $ | 4,267 | $ | 5,785 | |||
There were no transfers between level 1 and 2 during the years ended December 31, 2013 and 2012. There were no liabilities measured at fair value on a recurring or nonrecurring basis during the years ended December 31, 2013 and 2012. | ||||||||||
The following table presents additional quantitative information about assets measured at fair value on a recurring and nonrecurring basis for which the Company has utilized Level 3 inputs to determine fair value (dollars in thousands). | ||||||||||
Fair | Unobservable Input | |||||||||
Asset | Value | Valuation Technique | Unobservable Input | Value or Range | ||||||
Collateral dependent impaired loans | $ | 9,227 | Appraisal of collateral (1) | Appraisal adjustments (2) | 18% - 100% discount | |||||
Discounted cash flow | Discount rate | 4.6 | -3% | |||||||
Risk premium rate | 12 | -3% | ||||||||
Loan servicing rights | $ | 1,565 | Discounted cash flow | Discount rate | 5.2 | -3% | ||||
Constant prepayment rate | 12.4 | -3% | ||||||||
Other real estate owned | $ | 333 | Appraisal of collateral (1) | Appraisal adjustments (2) | 28% - 44% discount | |||||
(1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. | ||||||||||
(2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. | ||||||||||
(3) Weighted averages. | ||||||||||
Changes in Level 3 Fair Value Measurements | ||||||||||
There were no assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of December 31, 2013. The reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2012 is as follows (in thousands): | ||||||||||
Securities available for sale, beginning of period | $ | 1,636 | ||||||||
Sales | (360 | ) | ||||||||
Total gains (losses) realized/unrealized: | ||||||||||
Included in earnings | 331 | |||||||||
Included in other comprehensive income | (102 | ) | ||||||||
Transfers from Level 3 to Level 2 | (1,505 | ) | ||||||||
Securities available for sale, end of period | $ | - | ||||||||
The Company transferred all of the assets classified as Level 3 assets at December 31, 2011 to Level 2 during the three months ended March 31, 2012. The transfers of the $1.5 million of pooled trust preferred securities out of Level 3 was primarily the result of using observable pricing information or a third party pricing quote that appropriately reflects the fair value of those securities, without the need for adjustment based on our own assumptions regarding the characteristics of a specific security or the current liquidity in the market. | ||||||||||
Disclosures about Fair Value of Financial Instruments | ||||||||||
The assumptions used below are expected to approximate those that market participants would use in valuing these financial instruments. | ||||||||||
Fair value estimates are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of timing, amount of expected future cash flows and the credit standing of the issuer. Such estimates do not consider the tax impact of the realization of unrealized gains or losses. In some cases, the fair value estimates cannot be substantiated by comparison to independent markets. In addition, the disclosed fair value may not be realized in the immediate settlement of the financial instrument. Care should be exercised in deriving conclusions about our business, its value or financial position based on the fair value information of financial instruments presented below. | ||||||||||
The estimated fair value approximates carrying value for cash and cash equivalents, FHLB and FRB stock, accrued interest receivable, non-maturity deposits, short-term borrowings and accrued interest payable. Fair value estimates for other financial instruments not included elsewhere in this disclosure are discussed below. | ||||||||||
Securities held to maturity: The fair value of the Company's investment securities held to maturity is primarily measured using information from a third-party pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond's terms and conditions, among other things. | ||||||||||
Loans: The fair value of the Company's loans was estimated by discounting the expected future cash flows using the current interest rates at which similar loans would be made for the same remaining maturities. Loans were first segregated by type such as commercial, residential mortgage, and consumer, and were then further segmented into fixed and variable rate and loan quality categories. Expected future cash flows were projected based on contractual cash flows, adjusted for estimated prepayments. | ||||||||||
Time deposits: The fair value of time deposits was estimated using a discounted cash flow approach that applies prevailing market interest rates for similar maturity instruments. The fair values of the Company's time deposit liabilities do not take into consideration the value of the Company's long-term relationships with depositors, which may have significant value. | ||||||||||
The following presents the carrying amount, estimated fair value, and placement in the fair value measurement hierarchy of the Company's financial instruments as of December 31(in thousands): | ||||||||||
Level in | 2013 | 2012 | ||||||||
Fair Value | Estimated | Estimated | ||||||||
Measurement | Carrying | Fair | Carrying | Fair | ||||||
Hierarchy | Amount | Value | Amount | Value | ||||||
Financial assets: | ||||||||||
Cash and cash equivalents | Level 1 | $ | 59,692 | $ | 59,692 | $ | 60,436 | $ | 60,436 | |
Securities available for sale | Level 2 | 609,400 | 609,400 | 823,796 | 823,796 | |||||
Securities held to maturity | Level 2 | 249,785 | 250,657 | 17,905 | 18,478 | |||||
Loans held for sale | Level 2 | 3,381 | 3,381 | 1,518 | 1,547 | |||||
Loans | Level 2 | 1,797,656 | 1,802,407 | 1,678,648 | 1,701,419 | |||||
Loans (1) | Level 3 | 9,227 | 9,227 | 2,364 | 2,364 | |||||
Accrued interest receivable | Level 1 | 8,150 | 8,150 | 7,843 | 7,843 | |||||
FHLB and FRB stock | Level 2 | 19,663 | 19,663 | 12,321 | 12,321 | |||||
Financial liabilities: | ||||||||||
Non-maturity deposits | Level 1 | 1,724,133 | 1,724,133 | 1,606,856 | 1,606,856 | |||||
Time deposits | Level 2 | 595,923 | 596,928 | 654,938 | 658,342 | |||||
Short-term borrowings | Level 1 | 337,042 | 337,042 | 179,806 | 179,806 | |||||
Accrued interest payable | Level 1 | 3,407 | 3,407 | 3,819 | 3,819 | |||||
(1) Comprised of collateral dependent impaired loans. | ||||||||||
Parent_Company_Financial_Infor
Parent Company Financial Information | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Parent Company Financial Information [Abstract] | ' | |||||||||
Parent Company Financial Information | ' | |||||||||
(19.) PARENT COMPANY FINANCIAL INFORMATION | ||||||||||
Condensed financial statements pertaining only to the Parent are presented below (in thousands). | ||||||||||
Condensed Statements of Condition | December 31, | |||||||||
2013 | 2012 | |||||||||
Assets: | ||||||||||
Cash and due from subsidiary | $ | 9,510 | $ | 6,602 | ||||||
Investment in and receivables due from subsidiary | 245,071 | 246,535 | ||||||||
Other assets | 3,463 | 3,563 | ||||||||
Total assets | $ | 258,044 | $ | 256,700 | ||||||
Liabilities and shareholders' equity: | ||||||||||
Other liabilities | $ | 3,205 | $ | 2,803 | ||||||
Shareholders' equity | 254,839 | 253,897 | ||||||||
Total liabilities and shareholders' equity | $ | 258,044 | $ | 256,700 | ||||||
Condensed Statements of Income | Years ended December 31, | |||||||||
2013 | 2012 | 2011 | ||||||||
Dividends from subsidiary and associated companies | $ | 15,000 | $ | 4,000 | $ | 9,233 | ||||
Management and service fees from subsidiary | 368 | 517 | 1,161 | |||||||
Other income | 71 | 24 | 78 | |||||||
Total income | 15,439 | 4,541 | 10,472 | |||||||
Operating expenses | 2,906 | 2,732 | 3,787 | |||||||
Loss on extinguishment of debt | - | - | 1,083 | |||||||
Total expenses | 2,906 | 2,732 | 4,870 | |||||||
Income before income tax benefit and equity in undistributed | ||||||||||
earnings of subsidiary | 12,533 | 1,809 | 5,602 | |||||||
Income tax benefit | 1,020 | 991 | 1,539 | |||||||
Income before equity in undistributed earnings of subsidiary | 13,553 | 2,800 | 7,141 | |||||||
Equity in undistributed earnings of subsidiary | 11,977 | 20,649 | 15,658 | |||||||
Net income | $ | 25,530 | $ | 23,449 | $ | 22,799 | ||||
Condensed Statements of Cash Flows | Years ended December 31, | |||||||||
2013 | 2012 | 2011 | ||||||||
Cash flows from operating activities: | ||||||||||
Net income | $ | 25,530 | $ | 23,449 | $ | 22,799 | ||||
Adjustments to reconcile net income to net cash provided | ||||||||||
by operating activities: | ||||||||||
Equity in (undistributed earnings) excess distributions of subsidiary | (11,977 | ) | (20,649 | ) | (15,658 | ) | ||||
Depreciation and amortization | 47 | 65 | 116 | |||||||
Share-based compensation | 407 | 526 | 1,105 | |||||||
Decrease in other assets | 166 | 805 | 771 | |||||||
(Decrease) increase in other liabilities | (17 | ) | 44 | (534 | ) | |||||
Net cash provided by operating activities | 14,156 | 4,240 | 8,599 | |||||||
Cash flows from financing activities: | ||||||||||
Redemption of junior subordinated debentures | - | - | (16,702 | ) | ||||||
Proceeds from issuance of preferred and common shares, net of issuance costs | - | - | 43,127 | |||||||
Purchase of preferred and common shares | (360 | ) | (559 | ) | (37,764 | ) | ||||
Repurchase of warrant issued to U.S. Treasury | - | - | (2,080 | ) | ||||||
Proceeds from stock options exercised | 448 | 69 | 91 | |||||||
Dividends paid | (11,218 | ) | (8,866 | ) | (7,564 | ) | ||||
Other | (118 | ) | 97 | 20 | ||||||
Net cash used in financing activities | (11,248 | ) | (9,259 | ) | (20,872 | ) | ||||
Net (decrease) increase in cash and cash equivalents | 2,908 | (5,019 | ) | (12,273 | ) | |||||
Cash and cash equivalents as of beginning of year | 6,602 | 11,621 | 23,894 | |||||||
Cash and cash equivalents as of end of the year | $ | 9,510 | $ | 6,602 | $ | 11,621 | ||||
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Summary Of Significant Accounting Policies [Abstract] | ' | ||||||||
Principles Of Consolidation | ' | ||||||||
(a.) Principles of Consolidation | |||||||||
The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. | |||||||||
Use Of Estimates | ' | ||||||||
(b.) Use of Estimates | |||||||||
In preparing the consolidated financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amount of assets and liabilities as of the date of the statement of financial condition and reported amounts of revenue and expenses during the reporting period. Material estimates relate to the determination of the allowance for loan losses, the carrying value of goodwill and deferred tax assets, the valuation and other than temporary impairment ("OTTI") considerations related to the securities portfolio, and assumptions used in the defined benefit pension plan accounting. These estimates and assumptions are based on management's best estimates and judgment and are evaluated on an ongoing basis using historical experience and other factors, including the current economic environment. The Company adjusts these estimates and assumptions when facts and circumstances dictate. As future events cannot be determined with precision, actual results could differ significantly from the Company's estimates. | |||||||||
Cash Flow Reporting | ' | ||||||||
(c.) Cash Flow Reporting | |||||||||
Cash and cash equivalents include cash and due from banks, federal funds sold and interest-bearing deposits in other banks. Net cash flows are reported for loans, deposit transactions and short-term borrowings. | |||||||||
Supplemental cash flow information is summarized as follows for the years ended December 31 (in thousands): | |||||||||
2013 | 2012 | 2011 | |||||||
Cash payments: | |||||||||
Interest expense | $ | 7,750 | $ | 10,438 | $ | 15,668 | |||
Income taxes | 8,095 | 4,014 | 5,191 | ||||||
Noncash investing and financing activities: | |||||||||
Real estate and other assets acquired in settlement of loans | $ | 726 | $ | 322 | $ | 305 | |||
Accrued and declared unpaid dividends | 2,981 | 2,562 | 2,144 | ||||||
Accretion of preferred stock discount | - | - | 1,305 | ||||||
(Decrease) increase in net unsettled security purchases | (51,112 | ) | 51,135 | (67 | ) | ||||
Securities transferred from available for sale to held to maturity | 227,330 | - | - | ||||||
Loans transferred from held for sale to held for investment | 3,727 | - | - | ||||||
Net transfer of portfolio loans to held for sale | - | - | 13,576 | ||||||
Assets acquired and liabilities assumed in branch acquisition: | |||||||||
Loans and other non-cash assets, excluding goodwill and core | |||||||||
deposit intangible asset | - | 77,912 | - | ||||||
Deposits and other liabilities | - | 287,331 | - | ||||||
Investment Securities | ' | ||||||||
(d.) Investment Securities | |||||||||
Investment securities are classified as either available for sale or held to maturity. Debt securities that management has the positive intent and ability to hold to maturity are classified as held to maturity and are recorded at amortized cost. Other investment securities are classified as available for sale and recorded at fair value, with unrealized gains and losses excluded from earnings and reported as a component of comprehensive income and shareholders' equity. | |||||||||
Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Securities are evaluated periodically to determine whether a decline in their fair value is other than temporary. Management utilizes criteria such as, the current intent to hold or sell the security, the magnitude and duration of the decline and, when appropriate, consideration of negative changes in expected cash flows, creditworthiness, near term prospects of issuers, the level of credit subordination, estimated loss severity, and delinquencies, to determine whether a loss in value is other than temporary. The term "other than temporary" is not intended to indicate that the decline is permanent, but indicates that the prospect for a near-term recovery of value is not necessarily favorable. Declines in the fair value of investment securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses to the extent the impairment is related to credit issues or concerns, or the security is intended to be sold. The amount of impairment related to non-credit related factors is recognized in other comprehensive income. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. | |||||||||
Loans Held For Sale And Loan Servicing Rights | ' | ||||||||
(e.) Loans Held for Sale and Loan Servicing Rights | |||||||||
The Company generally makes the determination of whether to identify a mortgage as held for sale at the time the loan is closed based on the Company's intent and ability to hold the loan. Loans held for sale are recorded at the lower of cost or market computed on the aggregate portfolio basis. The amount, by which cost exceeds market value, if any, is accounted for as a valuation allowance with changes included in the determination of results of operations for the period in which the change occurs. The amount of loan origination cost and fees are deferred at origination of the loans and recognized as part of the gain or loss on sale of the loans, determined using the specific identification method, in the consolidated statements of income. | |||||||||
The Company originates and sells certain residential real estate loans in the secondary market. The Company typically retains the right to service the mortgages upon sale. Mortgage-servicing rights ("MSRs") represent the cost of acquiring the contractual rights to service loans for others. MSRs are recorded at their fair value at the time a loan is sold and servicing rights are retained. MSRs are reported in other assets in the consolidated statements of financial position and are amortized to noninterest income in the consolidated statements of income in proportion to and over the period of estimated net servicing income. The Company uses a valuation model that calculates the present value of future cash flows to determine the fair value of servicing rights. In using this valuation method, the Company incorporates assumptions to estimate future net servicing income, which include estimates of the cost to service the loan, the discount rate, an inflation rate and prepayment speeds. On a quarterly basis, the Company evaluates its MSRs for impairment and charges any such impairment to current period earnings. In order to evaluate its MSRs the Company stratifies the related mortgage loans on the basis of their predominant risk characteristics, such as interest rates, year of origination and term, using discounted cash flows and market-based assumptions. Impairment of MSRs is recognized through a valuation allowance, determined by estimating the fair value of each stratum and comparing it to its carrying value. Subsequent increases in fair value are adjusted through the valuation allowance, but only to the extent of the valuation allowance. No impairment loss related to the MSRs was recognized during the years ended December 31, 2013 or 2012. The Company recognized an impairment loss related to the MSRs of $35 thousand during the year ended December 31, 2011. | |||||||||
Mortgage loan servicing includes collecting monthly mortgagor payments, forwarding payments and related accounting reports to investors, collecting escrow deposits for the payment of mortgagor property taxes and insurance, and paying taxes and insurance from escrow funds when due. Loan servicing income (a component of noninterest income in the consolidated statements of income) consists of fees earned for servicing mortgage loans sold to third parties, net of amortization expense and impairment losses associated with capitalized mortgage servicing assets. | |||||||||
Loans | ' | ||||||||
(f.) Loans | |||||||||
Loans are classified as held for investment when management has both the intent and ability to hold the loan for the foreseeable future, or until maturity or payoff. Loans are carried at the principal amount outstanding, net of any unearned income and unamortized deferred fees and costs on originated loans. Loan origination fees and certain direct loan origination costs are deferred, and the net amount is amortized into net interest income over the contractual life of the related loans or over the commitment period as an adjustment of yield. Interest income on loans is based on the principal balance outstanding computed using the effective interest method. | |||||||||
A loan is considered delinquent when a payment has not been received in accordance with the contractual terms. The accrual of interest income for commercial loans is discontinued when there is a clear indication that the borrower's cash flow may not be sufficient to meet payments as they become due, while the accrual of interest income for retail loans is discontinued when loans reach specific delinquency levels. Loans are generally placed on nonaccrual status when contractually past due 90 days or more as to interest or principal payments, unless the loan is well secured and in the process of collection. Additionally, if management becomes aware of facts or circumstances that may adversely impact the collectability of principal or interest on loans, it is management's practice to place such loans on a nonaccrual status immediately, rather than delaying such action until the loans become 90 days past due. When a loan is placed on nonaccrual status, previously accrued and uncollected interest is reversed, amortization of related deferred loan fees or costs is suspended, and income is recorded only to the extent that interest payments are subsequently received in cash and a determination has been made that the principal balance of the loan is collectible. If collectability of the principal is in doubt, payments received are applied to loan principal. A nonaccrual loan may be returned to accrual status when all delinquent principal and interest payments become current in accordance with the terms of the loan agreement, the borrower has demonstrated a period of sustained performance (generally a minimum of six months) and the ultimate collectability of the total contractual principal and interest is no longer in doubt. | |||||||||
The Company's loan policy dictates the guidelines to be followed in determining when a loan is charged-off. All charge offs are approved by the Bank's senior loan officers or loan committees, depending on the amount of the charge off, and are reported in aggregate to the Bank's Board of Directors. Commercial business and commercial mortgage loans are charged-off when a determination is made that the financial condition of the borrower indicates that the loan will not be collectible in the ordinary course of business. Residential mortgage loans and home equities are generally charged-off or written down when the credit becomes severely delinquent and the balance exceeds the fair value of the property less costs to sell. Indirect and other consumer loans, both secured and unsecured, are generally charged-off in full during the month in which the loan becomes 120 days past due, unless the collateral is in the process of repossession in accordance with the Company's policy. | |||||||||
A loan is accounted for as a troubled debt restructuring if the Company, for economic or legal reasons related to the borrower's financial condition, grants a significant concession to the borrower that it would not otherwise consider. A troubled debt restructuring may involve the receipt of assets from the debtor in partial or full satisfaction of the loan, or a modification of terms such as a reduction of the stated interest rate or face amount of the loan, a reduction of accrued interest, an extension of the maturity date at a stated interest rate lower than the current market rate for a new loan with similar risk, or some combination of these concessions. Troubled debt restructurings generally remain on nonaccrual status until there is a sustained period of payment performance (usually six months or longer) and there is a reasonable assurance that the payments will continue. See Allowance for Loan Losses below for further policy discussion and see Note 5 Loans for additional information. | |||||||||
Off-Balance Sheet Financial Instruments | ' | ||||||||
(g.) Off-Balance Sheet Financial Instruments | |||||||||
In the ordinary course of business, the Company enters into off-balance sheet financial instruments consisting of commitments to extend credit, standby letters of credit and financial guarantees. Such financial instruments are recorded in the consolidated financial statements when they are funded or when related fees are incurred or received. The Company periodically evaluates the credit risks inherent in these commitments and establishes loss allowances for such risks if and when these are deemed necessary. | |||||||||
The Company recognizes as liabilities the fair value of the obligations undertaken in issuing the guarantees under the standby letters of credit, net of the related amortization at inception. The fair value approximates the unamortized fees received from the customers for issuing the standby letters of credit. The fees are deferred and recognized on a straight-line basis over the commitment period. Standby letters of credit outstanding at December 31, 2013 had original terms ranging from one to five years. | |||||||||
Fees received for providing loan commitments and letters of credit that result in loans are typically deferred and amortized to interest income over the life of the related loan, beginning with the initial borrowing. Fees on commitments and letters of credit are amortized to other income as banking fees and commissions over the commitment period when funding is not expected. | |||||||||
Allowance For Loan Losses | ' | ||||||||
(h.) Allowance for Loan Losses | |||||||||
The allowance for loan losses is established through charges to earnings in the form of a provision for loan losses. When a loan or portion of a loan is determined to be uncollectible, the portion deemed uncollectible is charged against the allowance and subsequent recoveries, if any, are credited to the allowance. | |||||||||
The allowance for loan losses is evaluated on a regular basis and is based upon periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower's ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. | |||||||||
The allowance consists of specific and general components. Specific allowances are established for impaired loans. Impaired commercial business and commercial mortgage loans are individually evaluated and measured for impairment based on the present value of expected future cash flows discounted at the loan's effective interest rate, a loan's observable market price, or the fair value of the collateral if the loan is collateral dependent. Regardless of the measurement method, impairment is based on the fair value of the collateral when foreclosure is probable. If the recorded investment in impaired loans exceeds the measure of estimated fair value, a specific allowance is established as a component of the allowance for loan losses. Interest payments on impaired loans are typically applied to principal unless collectability of the principal amount is reasonably assured, in which case interest is recognized on a cash basis. Impaired loans, or portions thereof, are charged-off when deemed uncollectible. | |||||||||
A loan is considered impaired when, based on current information and events, it is probable that the Company 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 Company 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. Impairment is measured on a loan by loan basis by either the present value of expected future cash flows discounted at the loan's effective interest rate, the loans obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Large groups of homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and residential loans for impairment disclosures unless the loan has been subject to a troubled debt restructure. At December 31, 2013, there were no commitments to lend additional funds to those borrowers whose loans were classified as impaired. | |||||||||
General allowances are established for loan losses on a portfolio basis for loans that do not meet the definition of impaired. The portfolio is grouped into similar risk characteristics, primarily loan type. The Company applies an estimated loss rate to each loan group. The loss rate is based on historical experience and as a result can differ from actual losses incurred in the future. The historical loss rate is adjusted for qualitative factors such as levels and trends of delinquent and non-accruing loans, trends in volume and terms, effects of changes in lending policy, the experience, ability and depth of management, national and local economic trends and conditions, concentrations of credit risk, interest rates, highly leveraged borrowers, information risk and collateral risk. The qualitative factors are reviewed at least quarterly and adjustments are made as needed. | |||||||||
While management evaluates currently available information in establishing the allowance for loan losses, future adjustments to the allowance may be necessary if conditions differ substantially from the assumptions used in making the evaluations. In addition, various regulatory agencies, as an integral part of their examination process, periodically review a financial institution's allowance for loan losses. Such agencies may require the financial institution to recognize additions to the allowance based on their judgments about information available to them at the time of their examination. | |||||||||
Other Real Estate Owned | ' | ||||||||
(i.) Other Real Estate Owned | |||||||||
Other real estate owned consists of properties acquired through foreclosure or by acceptance of a deed in lieu of foreclosure. These assets are recorded at the lower of fair value of the asset acquired less estimated costs to sell or "cost" (defined as the fair value at initial foreclosure). At the time of foreclosure, or when foreclosure occurs in-substance, the excess, if any, of the loan over the fair market value of the assets received, less estimated selling costs, is charged to the allowance for loan losses and any subsequent valuation write-downs are charged to other expense. In connection with the determination of the allowance for loan losses and the valuation of other real estate owned, management obtains appraisals for properties. Operating costs associated with the properties are charged to expense as incurred. Gains on the sale of other real estate owned are included in income when title has passed and the sale has met the minimum down payment requirements prescribed by GAAP. The balance of other real estate owned was $333 thousand and $184 thousand at December 31, 2013 and 2012, respectively. | |||||||||
Company Owned Life Insurance | ' | ||||||||
(j.) Company Owned Life Insurance | |||||||||
The Company holds life insurance policies on certain current and former employees. The Company is the owner and beneficiary of the policies. The cash surrender value of these policies is included as an asset on the consolidated statements of financial condition, and any increase in cash surrender value is recorded as noninterest income on the consolidated statements of income. In the event of the death of an insured individual under these policies, the Company would receive a death benefit which would be recorded as noninterest income. | |||||||||
Premises And Equipment | ' | ||||||||
(k.) Premises and Equipment | |||||||||
Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed on the straight-line method over the estimated useful lives of the assets. The Company generally amortizes buildings and building improvements over a period of 15 to 39 years and software, furniture and equipment over a period of 3 to 10 years. Leasehold improvements are amortized over the shorter of the lease term or the useful life of the improvements. Premises and equipment are periodically reviewed for impairment or when circumstances present indicators of impairment. | |||||||||
Goodwill And Other Intangible Assets | ' | ||||||||
(l.) Goodwill and Other Intangible Assets | |||||||||
Goodwill represents the excess of the purchase price over the fair value of net assets acquired in accordance with the purchase method of accounting for business combinations. Goodwill has an indefinite useful life and is not amortized, but is tested for impairment. GAAP requires goodwill to be tested for impairment at the Company's reporting unit level on an annual basis, which for the Company is September 30th, and more frequently if events or circumstances indicate that there may be impairment. Currently, the Company's goodwill is evaluated at the entity level as there is only one reporting unit. | |||||||||
Impairment exists when a reporting unit's carrying value of goodwill exceeds its implied fair value. In testing goodwill for impairment, GAAP permits the Company to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If, after assessing the totality of events and circumstances, the Company determines it is not more likely than not that the fair value of a reporting unit is less than its carrying value, then performing the two-step impairment test would be unnecessary. However, if the Company concludes otherwise, it would then be required to perform the first step (Step 1) of the goodwill impairment test, and continue to the second step (Step 2), if necessary. Step 1 compares the fair value of a reporting unit with its carrying value, including goodwill. If the carrying value of the reporting unit exceeds its fair value, Step 2 of the goodwill impairment test is performed to measure the amount of impairment loss, if any. | |||||||||
Intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset, or liability. The Company's intangible assets relate to core deposits. Intangible assets with definite useful lives are amortized on an accelerated basis over their estimated life of approximately nine and a half years. Intangible assets with indefinite useful lives are not amortized until their lives are determined to be definite. Intangible assets are tested for impairment whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. See Note 7 - Goodwill and Other Intangible Assets. | |||||||||
Federal Home Loan Bank ("FHLB") And Federal Reserve Bank ("FRB") Stock | ' | ||||||||
(m.) Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB") Stock | |||||||||
The non-marketable investments in FHLB and FRB stock are included in other assets in the consolidated statements of financial condition at par value or cost and are periodically reviewed for impairment. The dividends received relative to these investments are included in other noninterest income in the consolidated statements of income. | |||||||||
As a member of the FHLB system, the Company is required to maintain a specified investment in FHLB of New York ("FHLBNY") stock in proportion to its volume of certain transactions with the FHLB. FHLBNY stock totaled $15.8 million and $8.4 million as of December 31, 2013 and 2012, respectively. | |||||||||
As a member of the FRB system, the Company is required to maintain a specified investment in FRB stock based on a ratio relative to the Company's capital. FRB stock totaled $3.9 million as of December 31, 2013 and 2012. | |||||||||
Equity Method Investments | ' | ||||||||
(n.) Equity Method Investments | |||||||||
The Company has investments in limited partnerships, primarily Small Business Investment Companies, and accounts for these investments under the equity method. These investments are included in other assets in the consolidated statements of financial condition and totaled $4.8 million and $4.7 million as of December 31, 2013 and 2012, respectively. | |||||||||
Treasury Stock | ' | ||||||||
(o.) Treasury Stock | |||||||||
Acquisitions of treasury stock are recorded at cost. The reissuance of shares in treasury is recorded at weighted-average cost. | |||||||||
Employee Benefits | ' | ||||||||
(p.) Employee Benefits | |||||||||
The Company participates in a non-contributory defined benefit pension plan for certain employees who previously met participation requirements. The Company also provides post-retirement benefits, principally health and dental care, to employees of a previously acquired entity. The Company has closed the pension and post-retirement plans to new participants. The actuarially determined pension benefit is based on years of service and the employee's highest average compensation during five consecutive years of employment. The Company's policy is to at least fund the minimum amount required by the Employment Retirement Income Security Act of 1974. The cost of the pension and post-retirement plans are based on actuarial computations of current and future benefits for employees, and is charged to noninterest expense in the consolidated statements of income. | |||||||||
The Company recognizes an asset or a liability for a plans' overfunded status or underfunded status, respectively, in the consolidated financial statements and reports changes in the funded status as a component of other comprehensive income, net of applicable taxes, in the year in which changes occur. | |||||||||
Share-Based Compensation Plans | ' | ||||||||
(q.) Share-Based Compensation Plans | |||||||||
Compensation expense for stock options and restricted stock awards is based on the fair value of the award on the measurement date, which, for the Company, is the date of grant and is recognized ratably over the service period of the award. The fair value of stock options is estimated using the Black-Scholes option-pricing model. The fair value of restricted stock awards is generally the market price of the Company's stock on the date of grant. | |||||||||
Share-based compensation expense is included in the consolidated statements of income under salaries and employee benefits for awards granted to management and in other noninterest expense for awards granted to directors. | |||||||||
Income Taxes | ' | ||||||||
(r.) Income Taxes | |||||||||
Income taxes are accounted for using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. A valuation allowance is recognized on deferred tax assets if, based upon the weight of available evidence, it is more likely than not that some or all of the assets may not be realized. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. | |||||||||
Comprehensive Income | ' | ||||||||
(s.) Comprehensive Income | |||||||||
Comprehensive income includes all changes in shareholders' equity during a period, except those resulting from transactions with shareholders. In addition to net income, other components of the Company's comprehensive income include the after tax effect of changes in net unrealized gain / loss on securities available for sale and changes in net actuarial gain / loss on defined benefit post-retirement plans. Comprehensive income is reported in the accompanying consolidated statements of changes in shareholder's equity and consolidated statements of comprehensive income. See Note 13 - Accumulated Other Comprehensive Income (Loss) for additional information. | |||||||||
Earnings Per Common Share | ' | ||||||||
(t.) Earnings Per Common Share | |||||||||
The Company calculates earnings per common share ("EPS") using the two-class method in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 260, "Earnings Per Share". The two-class method requires the Company to present EPS as if all of the earnings for the period are distributed to common shareholders and any participating securities, regardless of whether any actual dividends or distributions are made. All outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends are considered participating securities. Certain of the restricted shares issued under the Company's share-based compensation plan are entitled to dividends at the same rate as common stock. The Company has determined that these outstanding non-vested stock awards qualify as participating securities. | |||||||||
Basic EPS is computed by dividing distributed and undistributed earnings available to common shareholders by the weighted average number of common shares outstanding for the period. Distributed and undistributed earnings available to common shareholders represent net income reduced by preferred stock dividends and distributed and undistributed earnings available to participating securities. Common shares outstanding include common stock and vested restricted stock awards. Diluted EPS reflects the assumed conversion of all potential dilutive securities. A reconciliation of the weighted-average shares used in calculating basic earnings per common share and the weighted average common shares used in calculating diluted earnings per common share for the reported periods is provided in Note 16 - Earnings Per Common Share. | |||||||||
Reclassifications | ' | ||||||||
(u.) Reclassifications | |||||||||
Prior years' consolidated financial statements are reclassified whenever necessary to conform to the current year's presentation. Certain reclassifications have been made to the prior years' financial statements in order to reflect retrospective adjustments made to the balance of goodwill at December 31, 2012 to reflect the effect of these measurement period adjustments made in accordance with accounting requirements. The reclassifications had no impact on shareholders' equity or net income | |||||||||
Recent Accounting Pronouncements | ' | ||||||||
(v.) Recent Accounting Pronouncements | |||||||||
In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-02, | |||||||||
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU No. 2013-02 does not amend any existing requirements for reporting net income or other comprehensive income in the financial statements. ASU No. 2013-02 requires an entity to disaggregate the total change of each component of other comprehensive income (e.g., unrealized gains or losses on available-for-sale investment securities) and separately present reclassification adjustments and current period other comprehensive income. The provisions of ASU No. 2013-02 also requires that entities present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source (e.g., unrealized gains or losses on available-for-sale investment securities) and the income statement line item affected by the reclassification (e.g., realized gains (losses) on sales of investment securities). If a component is not required to be reclassified to net income in its entirety (e.g., amortization of defined benefit plan items), entities would instead cross reference to the related note to the financial statements for additional information (e.g., pension footnote). The Company adopted the provisions of ASU No. 2013-02 effective January 1, 2013. As the Company provided these required disclosures in the notes to the consolidated financial statements, the adoption of ASU No. 2013-02 had no impact on the Company's consolidated statements of income and condition. See Note 13 Accumulated Other Comprehensive Income (Loss) to the consolidated financial statements for the disclosures required by ASU No. 2013-02. | |||||||||
Summary_Of_Significant_Account2
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Summary Of Significant Accounting Policies [Abstract] | ' | ||||||||
Summary Of Supplemental Cash Flow Information | ' | ||||||||
2013 | 2012 | 2011 | |||||||
Cash payments: | |||||||||
Interest expense | $ | 7,750 | $ | 10,438 | $ | 15,668 | |||
Income taxes | 8,095 | 4,014 | 5,191 | ||||||
Noncash investing and financing activities: | |||||||||
Real estate and other assets acquired in settlement of loans | $ | 726 | $ | 322 | $ | 305 | |||
Accrued and declared unpaid dividends | 2,981 | 2,562 | 2,144 | ||||||
Accretion of preferred stock discount | - | - | 1,305 | ||||||
(Decrease) increase in net unsettled security purchases | (51,112 | ) | 51,135 | (67 | ) | ||||
Securities transferred from available for sale to held to maturity | 227,330 | - | - | ||||||
Loans transferred from held for sale to held for investment | 3,727 | - | - | ||||||
Net transfer of portfolio loans to held for sale | - | - | 13,576 | ||||||
Assets acquired and liabilities assumed in branch acquisition: | |||||||||
Loans and other non-cash assets, excluding goodwill and core | |||||||||
deposit intangible asset | - | 77,912 | - | ||||||
Deposits and other liabilities | - | 287,331 | - |
Branch_Acquisitions_Tables
Branch Acquisitions (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Branch Acquisitions [Abstract] | ' | ||
Schedule Of Assets Purchased And Liabilities Assumed | ' | ||
Cash | $ | 195,778 | |
Loans | 75,635 | ||
Bank premises and equipment | 1,938 | ||
Goodwill | 11,167 | ||
Core deposit intangible asset | 2,042 | ||
Other assets | 601 | ||
Total assets acquired | $ | 287,161 | |
Deposits assumed | $ | 286,819 | |
Other liabilities | 342 | ||
Total liabilities assumed | $ | 287,161 |
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Investment Securities [Abstract] | ' | ||||||||||||
Amortized Cost And Fair Value Of Investment Securities | ' | ||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||
Cost | Gains | Losses | Value | ||||||||||
31-Dec-13 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 135,840 | $ | 1,414 | $ | 2,802 | $ | 134,452 | |||||
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 173,507 | 1,511 | 4,810 | 170,208 | |||||||||
Federal Home Loan Mortgage Corporation | 36,737 | 562 | 205 | 37,094 | |||||||||
Government National Mortgage Association | 61,832 | 2,152 | 142 | 63,842 | |||||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 63,838 | 261 | 3,195 | 60,904 | |||||||||
Federal Home Loan Mortgage Corporation | 102,660 | 169 | 5,856 | 96,973 | |||||||||
Government National Mortgage Association | 43,734 | 913 | 586 | 44,061 | |||||||||
Privately issued | - | 1,467 | - | 1,467 | |||||||||
Total collateralized mortgage obligations | 210,232 | 2,810 | 9,637 | 203,405 | |||||||||
Total mortgage-backed securities | 482,308 | 7,035 | 14,794 | 474,549 | |||||||||
Asset-backed securities | 18 | 381 | - | 399 | |||||||||
Total available for sale securities | $ | 618,166 | $ | 8,830 | $ | 17,596 | $ | 609,400 | |||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | $ | 249,785 | $ | 1,340 | $ | 468 | $ | 250,657 | |||||
31-Dec-12 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 128,097 | $ | 3,667 | $ | 69 | $ | 131,695 | |||||
State and political subdivisions | 188,997 | 6,285 | 72 | 195,210 | |||||||||
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 147,946 | 4,394 | 188 | 152,152 | |||||||||
Federal Home Loan Mortgage Corporation | 65,426 | 1,430 | - | 66,856 | |||||||||
Government National Mortgage Association | 56,166 | 3,279 | - | 59,445 | |||||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 60,805 | 1,865 | 2 | 62,668 | |||||||||
Federal Home Loan Mortgage Corporation | 78,581 | 1,911 | - | 80,492 | |||||||||
Government National Mortgage Association | 70,989 | 2,168 | - | 73,157 | |||||||||
Privately issued | 73 | 1,025 | - | 1,098 | |||||||||
Total collateralized mortgage obligations | 210,448 | 6,969 | 2 | 217,415 | |||||||||
Total mortgage-backed securities | 479,986 | 16,072 | 190 | 495,868 | |||||||||
Asset-backed securities | 121 | 902 | - | 1,023 | |||||||||
Total available for sale securities | $ | 797,201 | $ | 26,926 | $ | 331 | $ | 823,796 | |||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | $ | 17,905 | $ | 573 | $ | - | $ | 18,478 | |||||
Interest And Dividends On Securities | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Taxable interest and dividends | $ | 12,541 | $ | 12,202 | $ | 14,185 | |||||||
Tax-exempt interest and dividends | 4,922 | 4,242 | 3,828 | ||||||||||
Total interest and dividends on securities | $ | 17,463 | $ | 16,444 | $ | 18,013 | |||||||
Sales Of Securities Available For Sale | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Proceeds from sales | $ | 1,327 | $ | 2,823 | $ | 44,514 | |||||||
Gross realized gains | 1,226 | 2,651 | 3,051 | ||||||||||
Gross realized losses | - | - | 48 | ||||||||||
Scheduled Maturities Of Securities Available For Sale And Securities Held To Maturity | ' | ||||||||||||
Amortized | Fair | ||||||||||||
Cost | Value | ||||||||||||
Debt securities available for sale: | |||||||||||||
Due in one year or less | $ | 24,205 | $ | 24,204 | |||||||||
Due from one to five years | 28,163 | 28,932 | |||||||||||
Due after five years through ten years | 238,364 | 232,854 | |||||||||||
Due after ten years | 327,434 | 323,410 | |||||||||||
$ | 618,166 | $ | 609,400 | ||||||||||
Debt securities held to maturity: | |||||||||||||
Due in one year or less | $ | 25,289 | $ | 25,371 | |||||||||
Due from one to five years | 109,911 | 110,862 | |||||||||||
Due after five years through ten years | 114,543 | 114,371 | |||||||||||
Due after ten years | 42 | 53 | |||||||||||
$ | 249,785 | $ | 250,657 | ||||||||||
Investments' Gross Unrealized Losses And Fair Value | ' | ||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||
31-Dec-13 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 86,177 | $ | 2,788 | $ | 2,717 | $ | 14 | $ | 88,894 | $ | 2,802 | |
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 103,778 | 3,491 | 20,689 | 1,319 | 124,467 | 4,810 | |||||||
Federal Home Loan Mortgage Corporation | 14,166 | 205 | - | - | 14,166 | 205 | |||||||
Government National Mortgage Association | 14,226 | 142 | - | - | 14,226 | 142 | |||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 35,632 | 2,586 | 11,760 | 609 | 47,392 | 3,195 | |||||||
Federal Home Loan Mortgage Corporation | 72,655 | 4,980 | 15,762 | 876 | 88,417 | 5,856 | |||||||
Government National Mortgage Association | 8,396 | 586 | - | - | 8,396 | 586 | |||||||
Total collateralized mortgage obligations | 116,683 | 8,152 | 27,522 | 1,485 | 144,205 | 9,637 | |||||||
Total mortgage-backed securities | 248,853 | 11,990 | 48,211 | 2,804 | 297,064 | 14,794 | |||||||
Total available for sale securities | 335,030 | 14,778 | 50,928 | 2,818 | 385,958 | 17,596 | |||||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | 72,269 | 468 | - | - | 72,269 | 468 | |||||||
Total temporarily impaired securities | $ | 407,299 | $ | 15,246 | $ | 50,928 | $ | 2,818 | $ | 458,227 | $ | 18,064 | |
31-Dec-12 | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 13,265 | $ | 67 | $ | 2,967 | $ | 2 | $ | 16,232 | $ | 69 | |
State and political subdivisions | 8,471 | 72 | - | - | 8,471 | 72 | |||||||
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 25,200 | 188 | - | - | 25,200 | 188 | |||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | - | - | 1,173 | 2 | 1,173 | 2 | |||||||
Total collateralized mortgage obligations | - | - | 1,173 | 2 | 1,173 | 2 | |||||||
Total mortgage-backed securities | 25,200 | 188 | 1,173 | 2 | 26,373 | 190 | |||||||
Total temporarily impaired securities | $ | 46,936 | $ | 327 | $ | 4,140 | $ | 4 | $ | 51,076 | $ | 331 |
Loans_Held_For_Sale_And_Loan_S1
Loans Held For Sale And Loan Servicing Rights (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Loans Held For Sale And Loan Servicing Rights [Abstract] | ' | |||||||||
Activity In Capitalized Mortgage Servicing Assets | ' | |||||||||
2013 | 2012 | 2011 | ||||||||
Mortgage servicing assets, beginning of year | $ | 1,637 | $ | 1,609 | $ | 1,642 | ||||
Originations | 277 | 554 | 319 | |||||||
Amortization | (435 | ) | (526 | ) | (352 | ) | ||||
Mortgage servicing assets, end of year | 1,479 | 1,637 | 1,609 | |||||||
Valuation allowance | (3 | ) | (168 | ) | (210 | ) | ||||
Mortgage servicing assets, net, end of year | $ | 1,476 | $ | 1,469 | $ | 1,399 |
Loans_Tables
Loans (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Loans [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||||||
Loan Portfolio | ' | |||||||||||||||||||||||||||||||||||||||||||
Principal | Net Deferred | |||||||||||||||||||||||||||||||||||||||||||
Amount | Loan (Fees) | |||||||||||||||||||||||||||||||||||||||||||
Outstanding | Costs | Loans, Net | ||||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | $ | 265,751 | $ | 15 | $ | 265,766 | ||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 470,312 | (1,028 | ) | 469,284 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 113,101 | (56 | ) | 113,045 | ||||||||||||||||||||||||||||||||||||||||
Home equity | 320,658 | 5,428 | 326,086 | |||||||||||||||||||||||||||||||||||||||||
Consumer indirect | 609,390 | 26,978 | 636,368 | |||||||||||||||||||||||||||||||||||||||||
Other consumer | 22,893 | 177 | 23,070 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,802,105 | $ | 31,514 | 1,833,619 | |||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (26,736 | ) | ||||||||||||||||||||||||||||||||||||||||||
Total loans, net | $ | 1,806,883 | ||||||||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | $ | 258,706 | $ | (31 | ) | $ | 258,675 | |||||||||||||||||||||||||||||||||||||
Commercial mortgage | 414,282 | (958 | ) | 413,324 | ||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 133,341 | 179 | 133,520 | |||||||||||||||||||||||||||||||||||||||||
Home equity | 282,503 | 4,146 | 286,649 | |||||||||||||||||||||||||||||||||||||||||
Consumer indirect | 559,964 | 26,830 | 586,794 | |||||||||||||||||||||||||||||||||||||||||
Other consumer | 26,657 | 107 | 26,764 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,675,453 | $ | 30,273 | 1,705,726 | |||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (24,714 | ) | ||||||||||||||||||||||||||||||||||||||||||
Total loans, net | $ | 1,681,012 | ||||||||||||||||||||||||||||||||||||||||||
Recorded Investment By Loan Class In Current And Nonaccrual Loans | ' | |||||||||||||||||||||||||||||||||||||||||||
Greater | ||||||||||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | Than 90 | Total Past | Total | ||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | Days | Due | Nonaccrual | Current | Loans | ||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | $ | 558 | $ | 199 | $ | - | $ | 757 | $ | 3,474 | $ | 261,520 | $ | 265,751 | ||||||||||||||||||||||||||||||
Commercial mortgage | 800 | - | - | 800 | 9,663 | 459,849 | 470,312 | |||||||||||||||||||||||||||||||||||||
Residential mortgage | 542 | - | - | 542 | 1,078 | 111,481 | 113,101 | |||||||||||||||||||||||||||||||||||||
Home equity | 750 | 143 | - | 893 | 925 | 318,840 | 320,658 | |||||||||||||||||||||||||||||||||||||
Consumer indirect | 2,129 | 476 | - | 2,605 | 1,471 | 605,314 | 609,390 | |||||||||||||||||||||||||||||||||||||
Other consumer | 126 | 72 | 6 | 204 | 5 | 22,684 | 22,893 | |||||||||||||||||||||||||||||||||||||
Total loans, gross | $ | 4,905 | $ | 890 | $ | 6 | $ | 5,801 | $ | 16,616 | $ | 1,779,688 | $ | 1,802,105 | ||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | $ | 160 | $ | - | $ | - | $ | 160 | $ | 3,413 | $ | 255,133 | $ | 258,706 | ||||||||||||||||||||||||||||||
Commercial mortgage | 331 | - | - | 331 | 1,799 | 412,152 | 414,282 | |||||||||||||||||||||||||||||||||||||
Residential mortgage | 376 | - | - | 376 | 2,040 | 130,925 | 133,341 | |||||||||||||||||||||||||||||||||||||
Home equity | 675 | 10 | - | 685 | 939 | 280,879 | 282,503 | |||||||||||||||||||||||||||||||||||||
Consumer indirect | 1,661 | 163 | - | 1,824 | 891 | 557,249 | 559,964 | |||||||||||||||||||||||||||||||||||||
Other consumer | 127 | 35 | 18 | 180 | 25 | 26,452 | 26,657 | |||||||||||||||||||||||||||||||||||||
Total loans, gross | $ | 3,330 | $ | 208 | $ | 18 | $ | 3,556 | $ | 9,107 | $ | 1,662,790 | $ | 1,675,453 | ||||||||||||||||||||||||||||||
Information Related To Loans Modified In A TDR | ' | |||||||||||||||||||||||||||||||||||||||||||
Pre - | Post- | |||||||||||||||||||||||||||||||||||||||||||
Modification | Modification | |||||||||||||||||||||||||||||||||||||||||||
Outstanding | Outstanding | |||||||||||||||||||||||||||||||||||||||||||
Number of | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||||||
Contracts | Investment | Investment | ||||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | 4 | $ | 1,465 | $ | 1,456 | |||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 2 | 7,335 | 6,935 | |||||||||||||||||||||||||||||||||||||||||
Total | 6 | $ | 8,800 | $ | 8,391 | |||||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | 3 | $ | 536 | $ | 536 | |||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 4 | 648 | 648 | |||||||||||||||||||||||||||||||||||||||||
Total | 7 | $ | 1,184 | $ | 1,184 | |||||||||||||||||||||||||||||||||||||||
Summary Of Impaired Loans | ' | |||||||||||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | ||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | ||||||||||||||||||||||||||||||||||||||||
Investment(1) | Balance(1) | Allowance | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | $ | 1,777 | $ | 2,273 | $ | - | $ | 659 | $ | - | ||||||||||||||||||||||||||||||||||
Commercial mortgage | 875 | 906 | - | 760 | - | |||||||||||||||||||||||||||||||||||||||
2,652 | 3,179 | - | 1,419 | - | ||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | 1,697 | 1,717 | 201 | 3,196 | - | |||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 8,788 | 9,188 | 1,057 | 3,758 | - | |||||||||||||||||||||||||||||||||||||||
10,485 | 10,905 | 1,258 | 6,954 | - | ||||||||||||||||||||||||||||||||||||||||
$ | 13,137 | $ | 14,084 | $ | 1,258 | $ | 8,373 | $ | - | |||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | $ | 963 | $ | 1,425 | $ | - | $ | 755 | $ | - | ||||||||||||||||||||||||||||||||||
Commercial mortgage | 911 | 1,002 | - | 1,310 | - | |||||||||||||||||||||||||||||||||||||||
1,874 | 2,427 | - | 2,065 | - | ||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial business | 2,450 | 2,450 | 664 | 2,114 | - | |||||||||||||||||||||||||||||||||||||||
Commercial mortgage | 888 | 888 | 310 | 1,858 | - | |||||||||||||||||||||||||||||||||||||||
3,338 | 3,338 | 974 | 3,972 | - | ||||||||||||||||||||||||||||||||||||||||
$ | 5,212 | $ | 5,765 | $ | 974 | $ | 6,037 | $ | - | |||||||||||||||||||||||||||||||||||
(1) Difference between recorded investment and unpaid principal balance represents partial charge-offs. | ||||||||||||||||||||||||||||||||||||||||||||
Commercial Loan Portfolio Categorized By Internally Assigned Asset Classification | ' | |||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | |||||||||||||||||||||||||||||||||||||||||||
Business | Mortgage | |||||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
Uncriticized | $ | 250,553 | $ | 449,447 | ||||||||||||||||||||||||||||||||||||||||
Special mention | 6,311 | 6,895 | ||||||||||||||||||||||||||||||||||||||||||
Substandard | 8,887 | 13,970 | ||||||||||||||||||||||||||||||||||||||||||
Doubtful | - | - | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 265,751 | $ | 470,312 | ||||||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
Uncriticized | $ | 240,291 | $ | 400,576 | ||||||||||||||||||||||||||||||||||||||||
Special mention | 6,591 | 6,495 | ||||||||||||||||||||||||||||||||||||||||||
Substandard | 11,824 | 7,211 | ||||||||||||||||||||||||||||||||||||||||||
Doubtful | - | - | ||||||||||||||||||||||||||||||||||||||||||
Total | $ | 258,706 | $ | 414,282 | ||||||||||||||||||||||||||||||||||||||||
Retail Loan Portfolio Categorized By Payment Status | ' | |||||||||||||||||||||||||||||||||||||||||||
Residential | Home | Consumer | Other | |||||||||||||||||||||||||||||||||||||||||
Mortgage | Equity | Indirect | Consumer | |||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
Performing | $ | 112,023 | $ | 319,733 | $ | 607,919 | $ | 22,882 | ||||||||||||||||||||||||||||||||||||
Non-performing | 1,078 | 925 | 1,471 | 11 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 113,101 | $ | 320,658 | $ | 609,390 | $ | 22,893 | ||||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
Performing | $ | 131,301 | $ | 281,564 | $ | 559,073 | $ | 26,632 | ||||||||||||||||||||||||||||||||||||
Non-performing | 2,040 | 939 | 891 | 25 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 133,341 | $ | 282,503 | $ | 559,964 | $ | 26,657 | ||||||||||||||||||||||||||||||||||||
Changes In The Allowance For Loan Losses | ' | |||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Home | Consumer | Other | |||||||||||||||||||||||||||||||||||||||
Business | Mortgage | Mortgage | Equity | Indirect | Consumer | Total | ||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,884 | $ | 6,581 | $ | 740 | $ | 1,282 | $ | 10,715 | $ | 512 | $ | 24,714 | ||||||||||||||||||||||||||||||
Charge-offs | (1,070 | ) | (553 | ) | (411 | ) | (391 | ) | (8,125 | ) | (928 | ) | (11,478 | ) | ||||||||||||||||||||||||||||||
Recoveries | 349 | 319 | 54 | 157 | 3,161 | 381 | 4,421 | |||||||||||||||||||||||||||||||||||||
Provision | 110 | 1,396 | 293 | 319 | 6,479 | 482 | 9,079 | |||||||||||||||||||||||||||||||||||||
Ending balance | $ | 4,273 | $ | 7,743 | $ | 676 | $ | 1,367 | $ | 12,230 | $ | 447 | $ | 26,736 | ||||||||||||||||||||||||||||||
Evaluated for impairment: | ||||||||||||||||||||||||||||||||||||||||||||
Individually | $ | 201 | $ | 1,057 | $ | - | $ | - | $ | - | $ | - | $ | 1,258 | ||||||||||||||||||||||||||||||
Collectively | $ | 4,072 | $ | 6,686 | $ | 676 | $ | 1,367 | $ | 12,230 | $ | 447 | $ | 25,478 | ||||||||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 265,751 | $ | 470,312 | $ | 113,101 | $ | 320,658 | $ | 609,390 | $ | 22,893 | $ | 1,802,105 | ||||||||||||||||||||||||||||||
Evaluated for impairment: | ||||||||||||||||||||||||||||||||||||||||||||
Individually | $ | 3,474 | $ | 9,663 | $ | - | $ | - | $ | - | $ | - | $ | 13,137 | ||||||||||||||||||||||||||||||
Collectively | $ | 262,277 | $ | 460,649 | $ | 113,101 | $ | 320,658 | $ | 609,390 | $ | 22,893 | $ | 1,788,968 | ||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,036 | $ | 6,418 | $ | 858 | $ | 1,242 | $ | 10,189 | $ | 517 | $ | 23,260 | ||||||||||||||||||||||||||||||
Charge-offs | (729 | ) | (745 | ) | (326 | ) | (305 | ) | (6,589 | ) | (874 | ) | (9,568 | ) | ||||||||||||||||||||||||||||||
Recoveries | 336 | 261 | 130 | 44 | 2,769 | 354 | 3,894 | |||||||||||||||||||||||||||||||||||||
Provision | 1,241 | 647 | 78 | 301 | 4,346 | 515 | 7,128 | |||||||||||||||||||||||||||||||||||||
Ending balance | $ | 4,884 | $ | 6,581 | $ | 740 | $ | 1,282 | $ | 10,715 | $ | 512 | $ | 24,714 | ||||||||||||||||||||||||||||||
Evaluated for impairment: | ||||||||||||||||||||||||||||||||||||||||||||
Individually | $ | 664 | $ | 310 | $ | - | $ | - | $ | - | $ | - | $ | 974 | ||||||||||||||||||||||||||||||
Collectively | $ | 4,220 | $ | 6,271 | $ | 740 | $ | 1,282 | $ | 10,715 | $ | 512 | $ | 23,740 | ||||||||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 258,706 | $ | 414,282 | $ | 133,341 | $ | 282,503 | $ | 559,964 | $ | 26,657 | $ | 1,675,453 | ||||||||||||||||||||||||||||||
Evaluated for impairment: | ||||||||||||||||||||||||||||||||||||||||||||
Individually | $ | 3,413 | $ | 1,799 | $ | - | $ | - | $ | - | $ | - | $ | 5,212 | ||||||||||||||||||||||||||||||
Collectively | $ | 255,293 | $ | 412,483 | $ | 133,341 | $ | 282,503 | $ | 559,964 | $ | 26,657 | $ | 1,670,241 | ||||||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 3,712 | $ | 6,431 | $ | 1,013 | $ | 972 | $ | 7,754 | $ | 584 | $ | 20,466 | ||||||||||||||||||||||||||||||
Charge-offs | (1,346 | ) | (751 | ) | (152 | ) | (449 | ) | (4,713 | ) | (877 | ) | (8,288 | ) | ||||||||||||||||||||||||||||||
Recoveries | 401 | 245 | 90 | 44 | 2,066 | 456 | 3,302 | |||||||||||||||||||||||||||||||||||||
Provision (credit) | 1,269 | 493 | (93 | ) | 675 | 5,082 | 354 | 7,780 | ||||||||||||||||||||||||||||||||||||
Ending balance | $ | 4,036 | $ | 6,418 | $ | 858 | $ | 1,242 | $ | 10,189 | $ | 517 | $ | 23,260 | ||||||||||||||||||||||||||||||
Evaluated for impairment: | ||||||||||||||||||||||||||||||||||||||||||||
Individually | $ | 436 | $ | 644 | $ | - | $ | - | $ | - | $ | - | $ | 1,080 | ||||||||||||||||||||||||||||||
Collectively | $ | 3,600 | $ | 5,774 | $ | 858 | $ | 1,242 | $ | 10,189 | $ | 517 | $ | 22,180 | ||||||||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 233,727 | $ | 394,034 | $ | 113,865 | $ | 227,853 | $ | 465,807 | $ | 24,138 | $ | 1,459,424 | ||||||||||||||||||||||||||||||
Evaluated for impairment: | ||||||||||||||||||||||||||||||||||||||||||||
Individually | $ | 1,259 | $ | 2,928 | $ | - | $ | - | $ | - | $ | - | $ | 4,187 | ||||||||||||||||||||||||||||||
Collectively | $ | 232,468 | $ | 391,106 | $ | 113,865 | $ | 227,853 | $ | 465,807 | $ | 24,138 | $ | 1,455,237 |
Premises_And_Equipment_Net_Tab
Premises And Equipment, Net (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Premises And Equipment, Net [Abstract] | ' | ||||||
Major Classes Of Premises And Equipment | ' | ||||||
2013 | 2012 | ||||||
Land and land improvements | $ | 4,883 | $ | 4,883 | |||
Buildings and leasehold improvements | 44,830 | 43,402 | |||||
Furniture, fixtures, equipment and vehicles | 25,464 | 24,440 | |||||
Premises and equipment | 75,177 | 72,725 | |||||
Accumulated depreciation and amortization | (39,168 | ) | (36,107 | ) | |||
Premises and equipment, net | $ | 36,009 | $ | 36,618 |
Goodwill_And_Other_Intangible_1
Goodwill And Other Intangible Assets (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Goodwill And Other Intangible Assets [Abstract] | ' | ||||||
Change In The Balance For Goodwill | ' | ||||||
2013 | 2012 | ||||||
Goodwill, beginning of year | $ | 48,536 | $ | 37,369 | |||
Branch acquisitions | - | 11,167 | |||||
Impairment | - | - | |||||
Goodwill, end of year | $ | 48,536 | $ | 48,536 | |||
Other Intangible Assets Changes In Accumulated Amortization And Net Book Value | ' | ||||||
2013 | 2012 | ||||||
Gross carrying amount | $ | 2,042 | $ | 2,042 | |||
Accumulated amortization | (576 | ) | (189 | ) | |||
Net book value | $ | 1,466 | $ | 1,853 | |||
Amortization during the year | $ | 387 | $ | 189 | |||
Estimated Core Deposit Intangible Amortization Expense | ' | ||||||
2014 | $ | 341 | |||||
2015 | 296 | ||||||
2016 | 251 | ||||||
2017 | 205 | ||||||
2018 | 160 |
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Deposits: | ' | ||||||
Summary Of Deposits | ' | ||||||
2013 | 2012 | ||||||
Noninterest-bearing demand | $ | 535,472 | $ | 501,514 | |||
Interest-bearing demand | 470,733 | 449,744 | |||||
Savings and money market | 717,928 | 655,598 | |||||
Certificates of deposit, due: | |||||||
Within one year | 448,997 | 495,423 | |||||
One to two years | 77,219 | 91,052 | |||||
Two to three years | 23,642 | 35,993 | |||||
Three to five years | 46,045 | 31,721 | |||||
Thereafter | 20 | 749 | |||||
Total certificates of deposit | 595,923 | 654,938 | |||||
Total deposits | $ | 2,320,056 | $ | 2,261,794 | |||
Interest Expense By Deposits Type | ' | ||||||
2013 | 2012 | 2011 | |||||
Interest-bearing demand | $ | 729 | $ | 598 | $ | 614 | |
Savings and money market | 978 | 998 | 1,056 | ||||
Certificates of deposit | 4,893 | 6,866 | 9,764 | ||||
Total interest expense on deposits | $ | 6,600 | $ | 8,462 | $ | 11,434 |
Borrowings_Tables
Borrowings (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Borrowings [Abstract] | ' | ||||
Summary Of Outstanding Short-Term Borrowings | ' | ||||
2013 | 2012 | ||||
Short-term borrowings: | |||||
Repurchase agreements | $ | 39,042 | $ | 40,806 | |
Short-term FHLB borrowings | 298,000 | 139,000 | |||
Total short-term borrowings | $ | 337,042 | $ | 179,806 |
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies [Abstract] | ' | ||||
Off-Balance Sheet Commitments | ' | ||||
2013 | 2012 | ||||
Commitments to extend credit | $ | 431,236 | $ | 435,948 | |
Standby letters of credit | 8,618 | 9,223 | |||
Leases Future Minimum Payments By Years And In The Aggregate | ' | ||||
2014 | $ | 1,440 | |||
2015 | 1,381 | ||||
2016 | 1,273 | ||||
2017 | 878 | ||||
2018 | 626 | ||||
Thereafter | 3,796 | ||||
$ | 9,394 |
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Regulatory Matters [Abstract] | ' | |||||||||||||
Actual And Required Capital Ratios | ' | |||||||||||||
For Capital | ||||||||||||||
Actual | Adequacy Purposes | Well Capitalized | ||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||
2013 | ||||||||||||||
Tier 1 leverage: | Company | $ | 215,024 | 7.63 | % | $ | 112,660 | 4 | % | $ | 140,825 | 5 | % | |
Bank | 204,336 | 7.27 | 112,498 | 4 | 140,622 | 5 | ||||||||
Tier 1 capital: | Company | 215,024 | 10.82 | 79,459 | 4 | 119,188 | 6 | |||||||
Bank | 204,336 | 10.31 | 79,291 | 4 | 118,937 | 6 | ||||||||
Total risk-based capital: | Company | 239,878 | 12.08 | 158,918 | 8 | 198,647 | 10 | |||||||
Bank | 229,139 | 11.56 | 158,583 | 8 | 198,228 | 10 | ||||||||
2012 | ||||||||||||||
Tier 1 leverage: | Company | $ | 200,255 | 7.71 | % | $ | 103,845 | 4 | % | $ | 129,806 | 5 | % | |
Bank | 192,136 | 7.41 | 103,681 | 4 | 129,601 | 5 | ||||||||
Tier 1 capital: | Company | 200,255 | 10.73 | 74,681 | 4 | 112,022 | 6 | |||||||
Bank | 192,136 | 10.31 | 74,526 | 4 | 111,789 | 6 | ||||||||
Total risk-based capital: | Company | 223,610 | 11.98 | 149,363 | 8 | 186,703 | 10 | |||||||
Bank | 215,443 | 11.56 | 149,052 | 8 | 186,315 | 10 |
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Shareholders' Equity [Abstract] | ' | |||||
Changes In Shares Of Common Stock | ' | |||||
Outstanding | Treasury | Issued | ||||
2013 | ||||||
Shares outstanding at beginning of year | 13,787,709 | 373,888 | 14,161,597 | |||
Restricted stock awards issued, net of forfeitures | 24,058 | (24,058 | ) | - | ||
Stock options exercised | 23,265 | (23,265 | ) | - | ||
Treasury stock purchases | (11,349 | ) | 11,349 | - | ||
Directors' retainer | 5,672 | (5,672 | ) | - | ||
Shares outstanding at end of year | 13,829,355 | 332,242 | 14,161,597 | |||
2012 | ||||||
Shares outstanding at beginning of year | 13,803,116 | 358,481 | 14,161,597 | |||
Restricted stock awards issued, net of forfeitures | 7,857 | (7,857 | ) | - | ||
Stock options exercised | 4,250 | (4,250 | ) | - | ||
Treasury stock purchases | (33,330 | ) | 33,330 | - | ||
Directors' retainer | 5,816 | (5,816 | ) | - | ||
Shares outstanding at end of year | 13,787,709 | 373,888 | 14,161,597 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | |||||||||
Summarization Of Components Of Other Comprehensive Income (Loss) | ' | |||||||||
Pre-tax | Net-of-tax | |||||||||
Amount | Tax Effect | Amount | ||||||||
2013 | ||||||||||
Securities available for sale and transferred securities: | ||||||||||
Change in unrealized gain/loss during the period | $ | (34,135 | ) | $ | (13,522 | ) | $ | (20,613 | ) | |
Change in net unrealized gain on securities transferred to held to maturity | (72 | ) | (29 | ) | (43 | ) | ||||
Reclassification adjustment for net gains included in net income | (1,226 | ) | (485 | ) | (741 | ) | ||||
Total securities available for sale and transferred securities | (35,433 | ) | (14,036 | ) | (21,397 | ) | ||||
Pension and post-retirement obligations: | ||||||||||
Net actuarial gain (loss), net of amortization | 13,223 | 5,238 | 7,985 | |||||||
Prior service cost, net of amortization | (47 | ) | (19 | ) | (28 | ) | ||||
Total pension and post-retirement obligations | 13,176 | 5,219 | 7,957 | |||||||
Other comprehensive loss | $ | (22,257 | ) | $ | (8,817 | ) | $ | (13,440 | ) | |
2012 | ||||||||||
Securities available for sale: | ||||||||||
Change in unrealized gain/loss during the period | $ | 6,682 | $ | 2,646 | $ | 4,036 | ||||
Reclassification adjustment for gains included in income | (2,651 | ) | (1,050 | ) | (1,601 | ) | ||||
Reclassification adjustment for impairment charges included in income | 91 | 36 | 55 | |||||||
Total securities available for sale | 4,122 | 1,632 | 2,490 | |||||||
Pension and post-retirement obligations: | ||||||||||
Net actuarial gain (loss), net of amortization | (253 | ) | (99 | ) | (154 | ) | ||||
Prior service cost, net of amortization | (47 | ) | (19 | ) | (28 | ) | ||||
Total pension and post-retirement obligations | (300 | ) | (118 | ) | (182 | ) | ||||
Other comprehensive income | $ | 3,822 | $ | 1,514 | $ | 2,308 | ||||
2011 | ||||||||||
Securities available for sale: | ||||||||||
Change in unrealized gain/loss during the period | $ | 22,350 | $ | 8,855 | $ | 13,495 | ||||
Reclassification adjustment for gains included in income | (3,003 | ) | (1,190 | ) | (1,813 | ) | ||||
Reclassification adjustment for impairment charges included in income | 18 | 7 | 11 | |||||||
Total securities available for sale | 19,365 | 7,672 | 11,693 | |||||||
Pension and post-retirement obligations: | ||||||||||
Net actuarial gain (loss), net of amortization | (9,930 | ) | (3,934 | ) | (5,996 | ) | ||||
Prior service cost, net of amortization | (49 | ) | (19 | ) | (30 | ) | ||||
Total pension and post-retirement obligations | (9,979 | ) | (3,953 | ) | (6,026 | ) | ||||
Other comprehensive income | $ | 9,386 | $ | 3,719 | $ | 5,667 | ||||
Activity In Accumulated Other Comprehensive Income (Loss), Net Of Tax | ' | |||||||||
Securities | ||||||||||
Available for | Pension and | Accumulated | ||||||||
Sale and | Post- | Other | ||||||||
Transferred | retirement | Comprehensive | ||||||||
Securities | Obligations | Income (Loss) | ||||||||
Balance at January 1, 2013 | $ | 16,060 | $ | (12,807 | ) | $ | 3,253 | |||
Other comprehensive (loss) income before reclassifications | (20,656 | ) | 7,173 | (13,483 | ) | |||||
Amounts reclassified from accumulated other comprehensive income | (741 | ) | 784 | 43 | ||||||
Net current period other comprehensive (loss) income | (21,397 | ) | 7,957 | (13,440 | ) | |||||
Balance at December 31, 2013 | $ | (5,337 | ) | $ | (4,850 | ) | $ | (10,187 | ) | |
Balance at January 1, 2012 | $ | 13,570 | $ | (12,625 | ) | $ | 945 | |||
Other comprehensive income (loss) before reclassifications | 4,036 | (981 | ) | 3,055 | ||||||
Amounts reclassified from accumulated other comprehensive income | (1,546 | ) | 799 | (747 | ) | |||||
Net current period other comprehensive income (loss) | 2,490 | (182 | ) | 2,308 | ||||||
Balance at December 31, 2012 | $ | 16,060 | $ | (12,807 | ) | $ | 3,253 | |||
Balance at January 1, 2011 | $ | 1,877 | $ | (6,599 | ) | $ | (4,722 | ) | ||
Other comprehensive income (loss) before reclassifications | 13,495 | (6,363 | ) | 7,132 | ||||||
Amounts reclassified from accumulated other comprehensive loss | (1,802 | ) | 337 | (1,465 | ) | |||||
Net current period other comprehensive income (loss) | 11,693 | (6,026 | ) | 5,667 | ||||||
Balance at December 31, 2011 | $ | 13,570 | $ | (12,625 | ) | $ | 945 |
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Share-Based Compensation [Abstract] | ' | |||||||
Summary Of Stock Option Activity | ' | |||||||
Weighted | ||||||||
Weighted | Average | |||||||
Average | Remaining | Aggregate | ||||||
Number of | Exercise | Contractual | Intrinsic | |||||
Options | Price | Term | Value | |||||
Outstanding at beginning of year | 319,275 | $ | 20.22 | |||||
Granted | - | - | ||||||
Exercised | (23,265 | ) | 19.31 | |||||
Forfeited | - | |||||||
Expired | (103,076 | ) | 21.15 | |||||
Outstanding and exercisable at end of period | 192,934 | $ | 19.83 | 2.6 years | $ | 940 | ||
Summary Of Restricted Stock Award Activity | ' | |||||||
Weighted | ||||||||
Average | ||||||||
Market | ||||||||
Number of | Price at | |||||||
Shares | Grant Date | |||||||
Outstanding at beginning of year | 79,580 | $ | 16.89 | |||||
Granted | 43,035 | 16.94 | ||||||
Vested | (38,598 | ) | 17.04 | |||||
Forfeited | (18,977 | ) | 16.6 | |||||
Outstanding at end of period | 65,040 | $ | 16.92 | |||||
Share-Based Compensation Expense Included In Consolidated Statements Of Income | ' | |||||||
2013 | 2012 | 2011 | ||||||
Salaries and employee benefits | $ | 236 | $ | 394 | $ | 972 | ||
Other noninterest expense | 171 | 132 | 133 | |||||
Total share-based compensation expense | $ | 407 | $ | 526 | $ | 1,105 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Income Taxes [Abstract] | ' | |||||||
Income Tax Expense (Benefit) | ' | |||||||
2013 | 2012 | 2011 | ||||||
Current tax expense: | ||||||||
Federal | $ | 8,917 | $ | 4,021 | $ | 3,747 | ||
State | 1,913 | 955 | 1,158 | |||||
Total current tax expense | 10,830 | 4,976 | 4,905 | |||||
Deferred tax expense: | ||||||||
Federal | 1,251 | 5,262 | 5,584 | |||||
State | 296 | 1,081 | 926 | |||||
Total deferred tax expense | 1,547 | 6,343 | 6,510 | |||||
Total income tax expense | $ | 12,377 | $ | 11,319 | $ | 11,415 | ||
Income Tax Expense Differed From Statutory Federal Income Tax Rate | ' | |||||||
2013 | 2012 | 2011 | ||||||
Statutory federal tax rate | 35 | % | 35 | % | 35 | % | ||
Increase (decrease) resulting from: | ||||||||
Tax exempt interest income | (4.8 | ) | (4.6 | ) | (4.3 | ) | ||
Non-taxable earnings on company owned life insurance | (1.6 | ) | (1.8 | ) | (1.5 | ) | ||
State taxes, net of federal tax benefit | 3.8 | 3.8 | 4 | |||||
Nondeductible expenses | 0.2 | 0.3 | 0.4 | |||||
Other, net | 0.1 | (0.1 | ) | (0.2 | ) | |||
Effective tax rate | 32.7 | % | 32.6 | % | 33.4 | % | ||
Income Tax Expense Allocation | ' | |||||||
2013 | 2012 | 2011 | ||||||
Income tax expense | $ | 12,377 | $ | 11,319 | $ | 11,415 | ||
Shareholder's equity | (8,817 | ) | 1,514 | 3,718 | ||||
Net Deferred Tax Assets | ' | |||||||
2013 | 2012 | |||||||
Deferred tax assets: | ||||||||
Allowance for loan losses | $ | 10,591 | $ | 9,791 | ||||
Net unrealized loss on securities available for sale | 3,501 | - | ||||||
Other than temporary impairment of investment securities | 2,728 | 5,283 | ||||||
Deferred compensation | 873 | 868 | ||||||
Share-based compensation | 753 | 1,111 | ||||||
SERP agreements | 709 | 734 | ||||||
Interest on nonaccrual loans | 662 | 732 | ||||||
Other | 814 | 1,060 | ||||||
Gross deferred tax assets | 20,631 | 19,579 | ||||||
Deferred tax liabilities: | ||||||||
Prepaid pension costs | 6,185 | 1,648 | ||||||
Depreciation and amortization | 1,606 | 1,827 | ||||||
Loan servicing assets | 620 | 681 | ||||||
Net unrealized gain on securities available for sale | - | 10,536 | ||||||
Other | 63 | - | ||||||
Gross deferred tax liabilities | 8,474 | 14,692 | ||||||
Net deferred tax asset | $ | 12,157 | $ | 4,887 |
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Earnings Per Common Share [Abstract] | ' | |||||||||
Reconciliation Of Earnings And Shares Used In Calculating Basic And Diluted EPS | ' | |||||||||
2013 | 2012 | 2011 | ||||||||
Net income available to common shareholders | $ | 24,064 | $ | 21,975 | $ | 19,617 | ||||
Less: Earnings allocated to participating securities | - | 2 | 38 | |||||||
Net income available to common shareholders for EPS | $ | 24,064 | $ | 21,973 | $ | 19,579 | ||||
Weighted average common shares outstanding: | ||||||||||
Total shares issued | 14,162 | 14,162 | 13,599 | |||||||
Unvested restricted stock awards | (69 | ) | (107 | ) | (166 | ) | ||||
Treasury shares | (354 | ) | (359 | ) | (366 | ) | ||||
Total basic weighted average common shares outstanding | 13,739 | 13,696 | 13,067 | |||||||
Incremental shares from assumed: | ||||||||||
Exercise of stock options | 13 | 4 | 3 | |||||||
Vesting of restricted stock awards | 32 | 51 | 65 | |||||||
Exercise of warrant | - | - | 22 | |||||||
Total diluted weighted average common shares outstanding | 13,784 | 13,751 | 13,157 | |||||||
Basic earnings per common share | $ | 1.75 | $ | 1.6 | $ | 1.5 | ||||
Diluted earnings per common share | $ | 1.75 | $ | 1.6 | $ | 1.49 | ||||
Average Shares Subject To Instruments Excluded From Computation Of Diluted EPS Because The Effect Would Be Antidilutive | ' | |||||||||
Stock options | 122 | 303 | 339 | |||||||
Restricted stock awards | 2 | 1 | - | |||||||
124 | 304 | 339 |
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | |||||||||
Reconciliation Of The Plan's Benefit Obligations, Fair Value Of Assets And The Funded Status | ' | |||||||||
2013 | 2012 | |||||||||
Change in projected benefit obligation: | ||||||||||
Projected benefit obligation at beginning of period | $ | 53,625 | $ | 48,303 | ||||||
Service cost | 2,063 | 2,037 | ||||||||
Interest cost | 2,017 | 2,017 | ||||||||
Actuarial (gain) loss | (6,393 | ) | 3,291 | |||||||
Benefits paid and plan expenses | (2,321 | ) | (2,023 | ) | ||||||
Projected benefit obligation at end of period | 48,991 | 53,625 | ||||||||
Change in plan assets: | ||||||||||
Fair value of plan assets at beginning of period | 57,785 | 46,943 | ||||||||
Actual return on plan assets | 9,139 | 4,865 | ||||||||
Employer contributions | - | 8,000 | ||||||||
Benefits paid and plan expenses | (2,321 | ) | (2,023 | ) | ||||||
Fair value of plan assets at end of period | 64,603 | 57,785 | ||||||||
Funded status at end of period | $ | 15,612 | $ | 4,160 | ||||||
Estimated Benefit Payments Under The Pension Plan | ' | |||||||||
2014 | $ | 1,709 | ||||||||
2015 | 1,868 | |||||||||
2016 | 2,094 | |||||||||
2017 | 2,277 | |||||||||
2018 | 2,339 | |||||||||
2019 - 2023 | 14,044 | |||||||||
Components Of Net Periodic Benefit Expense | ' | |||||||||
2013 | 2012 | 2011 | ||||||||
Service cost | $ | 2,063 | $ | 2,037 | $ | 1,756 | ||||
Interest cost on projected benefit obligation | 2,017 | 2,017 | 2,027 | |||||||
Expected return on plan assets | (3,684 | ) | (3,211 | ) | (2,653 | ) | ||||
Amortization of unrecognized loss | 1,344 | 1,370 | 608 | |||||||
Amortization of unrecognized prior service cost | 20 | 20 | 19 | |||||||
Net periodic pension cost | $ | 1,760 | $ | 2,233 | $ | 1,757 | ||||
Target Allocation, Percentage Of Plan Assets And Weighted Average Expected Rate Of Return | ' | |||||||||
Weighted | ||||||||||
Average | ||||||||||
2014 | Percentage of Plan Assets | Expected | ||||||||
Target | at December 31, | Long-term | ||||||||
Allocation | 2013 | 2012 | Rate of Return | |||||||
Asset category: | ||||||||||
Cash equivalents | 0– 20 | % | 5.5 | % | 12.8 | % | 0.17 | % | ||
Equity securities | 40– 60 | 50.6 | 45.5 | 4.26 | ||||||
Fixed income securities | 40– 60 | 43.9 | 41.7 | 2.06 | ||||||
Other financial instruments | 0– 5 | - | - | - | ||||||
The Major Categories Of Plan Assets Measured At Fair Value On a Recurring Basis | ' | |||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||
Inputs | Inputs | Inputs | Fair Value | |||||||
2013 | ||||||||||
Cash equivalents: | ||||||||||
Foreign currencies | 92 | - | - | 92 | ||||||
Government issues | - | 937 | - | 937 | ||||||
Short term investment funds | - | 2,498 | - | 2,498 | ||||||
Total cash equivalents | 92 | 3,435 | - | 3,527 | ||||||
Equity securities: | ||||||||||
Common stock | 32,072 | - | - | 32,072 | ||||||
Depository receipts | 309 | 96 | - | 405 | ||||||
Preferred stock | 151 | - | - | 151 | ||||||
Real estate investment fund | 94 | - | - | 94 | ||||||
Total equity securities | 32,626 | 96 | - | 32,722 | ||||||
Fixed income securities: | ||||||||||
Auto loan receivable | - | 232 | - | 232 | ||||||
Collateralized mortgage obligations | - | 7,079 | - | 7,079 | ||||||
Corporate Bonds | - | 7,609 | - | 7,609 | ||||||
FHLMC | - | 883 | - | 883 | ||||||
FNMA | - | 3,044 | - | 3,044 | ||||||
GNMA I | - | 215 | - | 215 | ||||||
GNMA II | - | 96 | - | 96 | ||||||
Government Issues | - | 8,984 | - | 8,984 | ||||||
Municipals | - | 212 | - | 212 | ||||||
Total fixed income securities | - | 28,354 | - | 28,354 | ||||||
Total Plan investments | $ | 32,718 | 31,885 | - | 64,603 | |||||
Level 1 | Level 2 | Level 3 | Total | |||||||
Inputs | Inputs | Inputs | Fair Value | |||||||
2012 | ||||||||||
Cash equivalents: | ||||||||||
Foreign currencies | 60 | - | - | 60 | ||||||
Government issues | - | 314 | - | 314 | ||||||
Short term investment funds | - | 7,083 | - | 7,083 | ||||||
Total cash equivalents | 60 | 7,397 | - | 7,457 | ||||||
Equity securities: | ||||||||||
Common stock | 25,447 | - | - | 25,447 | ||||||
Depository receipts | 569 | - | - | 569 | ||||||
Preferred stock | 113 | - | - | 113 | ||||||
Real estate investment fund | 113 | - | - | 113 | ||||||
Total equity securities | 26,242 | - | - | 26,242 | ||||||
Fixed income securities: | ||||||||||
Auto loan receivable | - | 313 | - | 313 | ||||||
Collateralized mortgage obligations | - | 6,262 | - | 6,262 | ||||||
Corporate Bonds | - | 5,456 | - | 5,456 | ||||||
FHLMC | - | 717 | - | 717 | ||||||
FNMA | - | 2,867 | - | 2,867 | ||||||
GNMA I | - | 31 | - | 31 | ||||||
GNMA II | - | 133 | - | 133 | ||||||
Government Issues | - | 8,231 | - | 8,231 | ||||||
Municipals | - | 63 | - | 63 | ||||||
Other Asset Backed | - | 13 | - | 13 | ||||||
Total fixed income securities | - | 24,086 | - | 24,086 | ||||||
Total Plan investments | $ | 26,302 | 31,483 | - | 57,785 | |||||
Components Of Other Comprehensive Loss Related To Defined Benefit Plan And Postretirement Benefit Plan | ' | |||||||||
2013 | 2012 | |||||||||
Defined benefit plan: | ||||||||||
Net actuarial loss | $ | (8,237 | ) | $ | (21,428 | ) | ||||
Prior service cost | (72 | ) | (93 | ) | ||||||
(8,309 | ) | (21,521 | ) | |||||||
Postretirement benefit plan: | ||||||||||
Net actuarial loss | (163 | ) | (195 | ) | ||||||
Prior service credit | 440 | 508 | ||||||||
277 | 313 | |||||||||
(8,032 | ) | (21,208 | ) | |||||||
Deferred tax benefit | 3,182 | 8,401 | ||||||||
Amounts included in accumulated other comprehensive loss | $ | (4,850 | ) | $ | (12,807 | ) | ||||
Changes In Plan Assets And Benefit Obligations Recognized In Other Comprehensive Loss | ' | |||||||||
2013 | 2012 | |||||||||
Defined benefit plan: | ||||||||||
Net actuarial gain (loss) | $ | 11,847 | $ | (1,638 | ) | |||||
Amortization of net loss | 1,344 | 1,370 | ||||||||
Amortization of prior service cost | 21 | 20 | ||||||||
13,212 | (248 | ) | ||||||||
Postretirement benefit plan: | ||||||||||
Net actuarial gain | 32 | 15 | ||||||||
Amortization of prior service credit | (68 | ) | (67 | ) | ||||||
(36 | ) | (52 | ) | |||||||
Total recognized in other comprehensive loss | $ | 13,176 | $ | (300 | ) | |||||
Net Periodic Pension Cost [Member] | ' | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | |||||||||
Actuarial Assumptions Used | ' | |||||||||
2013 | 2012 | 2011 | ||||||||
Weighted average discount rate | 3.84 | % | 4.27 | % | 5.38 | % | ||||
Rate of compensation increase | 3 | % | 3 | % | 3 | % | ||||
Expected long-term rate of return | 6.5 | % | 7 | % | 7 | % | ||||
Projected Benefit Obligation [Member] | ' | |||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | |||||||||
Actuarial Assumptions Used | ' | |||||||||
2013 | 2012 | 2011 | ||||||||
Weighted average discount rate | 4.8 | % | 3.84 | % | 4.27 | % | ||||
Rate of compensation increase | 3 | % | 3 | % | 3 | % |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||
Assets Measured At Fair Value On A Recurring And Non-Recurring Basis | ' | |||||||||
Quoted Prices in | ||||||||||
Active Markets | Significant | |||||||||
for Identical | Other | Significant | ||||||||
Assets or | Observable | Unobservable | ||||||||
Liabilities | Inputs | Inputs | ||||||||
(Level 1) | (Level 2) | (Level 3) | Total | |||||||
2013 | ||||||||||
Measured on a recurring basis: | ||||||||||
Securities available for sale: | ||||||||||
U.S. Government agencies and government sponsored enterprises | $ | - | $ | 134,452 | $ | - | $ | 134,452 | ||
Mortgage-backed securities | - | 474,549 | - | 474,549 | ||||||
Asset-backed securities | - | 399 | - | 399 | ||||||
$ | - | $ | 609,400 | $ | - | $ | 609,400 | |||
Measured on a nonrecurring basis: | ||||||||||
Loans: | ||||||||||
Loans held for sale | $ | - | $ | 3,381 | $ | - | $ | 3,381 | ||
Collateral dependent impaired loans | - | - | 9,227 | 9,227 | ||||||
Other assets: | ||||||||||
Loan servicing rights | - | - | 1,565 | 1,565 | ||||||
Other real estate owned | - | - | 333 | 333 | ||||||
$ | - | $ | 3,381 | $ | 11,125 | $ | 14,506 | |||
2012 | ||||||||||
Measured on a recurring basis: | ||||||||||
Securities available for sale: | ||||||||||
U.S. Government agencies and government sponsored enterprises | $ | - | $ | 131,695 | $ | - | $ | 131,695 | ||
State and political subdivisions | - | 195,210 | - | 195,210 | ||||||
Mortgage-backed securities | - | 495,868 | - | 495,868 | ||||||
Asset-backed securities | 1,023 | 1,023 | ||||||||
$ | - | $ | 823,796 | $ | - | $ | 823,796 | |||
Measured on a nonrecurring basis: | ||||||||||
Loans: | ||||||||||
Loans held for sale | $ | - | $ | 1,518 | $ | - | $ | 1,518 | ||
Collateral dependent impaired loans | - | - | 2,364 | 2,364 | ||||||
Other assets: | ||||||||||
Loan servicing rights | - | - | 1,719 | 1,719 | ||||||
Other real estate owned | - | - | 184 | 184 | ||||||
$ | - | $ | 1,518 | $ | 4,267 | $ | 5,785 | |||
Additional Quantitative Information About Assets Measured At Fair Value On A Recurring And Non-Recurring Basis | ' | |||||||||
Fair | Unobservable Input | |||||||||
Asset | Value | Valuation Technique | Unobservable Input | Value or Range | ||||||
Collateral dependent impaired loans | $ | 9,227 | Appraisal of collateral (1) | Appraisal adjustments (2) | 18% - 100% discount | |||||
Discounted cash flow | Discount rate | 4.6 | -3% | |||||||
Risk premium rate | 12 | -3% | ||||||||
Loan servicing rights | $ | 1,565 | Discounted cash flow | Discount rate | 5.2 | -3% | ||||
Constant prepayment rate | 12.4 | -3% | ||||||||
Other real estate owned | $ | 333 | Appraisal of collateral (1) | Appraisal adjustments (2) | 28% - 44% discount | |||||
(1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. | ||||||||||
(2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. | ||||||||||
(3) Weighted averages. | ||||||||||
Changes In Level 3 Fair Value Measurements | ' | |||||||||
Securities available for sale, beginning of period | $ | 1,636 | ||||||||
Sales | (360 | ) | ||||||||
Total gains (losses) realized/unrealized: | ||||||||||
Included in earnings | 331 | |||||||||
Included in other comprehensive income | (102 | ) | ||||||||
Transfers from Level 3 to Level 2 | (1,505 | ) | ||||||||
Securities available for sale, end of period | $ | - | ||||||||
Carrying Amount, Estimated Fair Value, And Placement In Fair Value Hierarchy Of Financial Instruments | ' | |||||||||
Level in | 2013 | 2012 | ||||||||
Fair Value | Estimated | Estimated | ||||||||
Measurement | Carrying | Fair | Carrying | Fair | ||||||
Hierarchy | Amount | Value | Amount | Value | ||||||
Financial assets: | ||||||||||
Cash and cash equivalents | Level 1 | $ | 59,692 | $ | 59,692 | $ | 60,436 | $ | 60,436 | |
Securities available for sale | Level 2 | 609,400 | 609,400 | 823,796 | 823,796 | |||||
Securities held to maturity | Level 2 | 249,785 | 250,657 | 17,905 | 18,478 | |||||
Loans held for sale | Level 2 | 3,381 | 3,381 | 1,518 | 1,547 | |||||
Loans | Level 2 | 1,797,656 | 1,802,407 | 1,678,648 | 1,701,419 | |||||
Loans (1) | Level 3 | 9,227 | 9,227 | 2,364 | 2,364 | |||||
Accrued interest receivable | Level 1 | 8,150 | 8,150 | 7,843 | 7,843 | |||||
FHLB and FRB stock | Level 2 | 19,663 | 19,663 | 12,321 | 12,321 | |||||
Financial liabilities: | ||||||||||
Non-maturity deposits | Level 1 | 1,724,133 | 1,724,133 | 1,606,856 | 1,606,856 | |||||
Time deposits | Level 2 | 595,923 | 596,928 | 654,938 | 658,342 | |||||
Short-term borrowings | Level 1 | 337,042 | 337,042 | 179,806 | 179,806 | |||||
Accrued interest payable | Level 1 | 3,407 | 3,407 | 3,819 | 3,819 | |||||
(1) Comprised of collateral dependent impaired loans. | ||||||||||
Parent_Company_Financial_Infor1
Parent Company Financial Information (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Parent Company Financial Information [Abstract] | ' | |||||||||
Condensed Statements Of Condition | ' | |||||||||
Condensed Statements of Condition | December 31, | |||||||||
2013 | 2012 | |||||||||
Assets: | ||||||||||
Cash and due from subsidiary | $ | 9,510 | $ | 6,602 | ||||||
Investment in and receivables due from subsidiary | 245,071 | 246,535 | ||||||||
Other assets | 3,463 | 3,563 | ||||||||
Total assets | $ | 258,044 | $ | 256,700 | ||||||
Liabilities and shareholders' equity: | ||||||||||
Other liabilities | $ | 3,205 | $ | 2,803 | ||||||
Shareholders' equity | 254,839 | 253,897 | ||||||||
Total liabilities and shareholders' equity | $ | 258,044 | $ | 256,700 | ||||||
Condensed Statements Of Income | ' | |||||||||
Condensed Statements of Income | Years ended December 31, | |||||||||
2013 | 2012 | 2011 | ||||||||
Dividends from subsidiary and associated companies | $ | 15,000 | $ | 4,000 | $ | 9,233 | ||||
Management and service fees from subsidiary | 368 | 517 | 1,161 | |||||||
Other income | 71 | 24 | 78 | |||||||
Total income | 15,439 | 4,541 | 10,472 | |||||||
Operating expenses | 2,906 | 2,732 | 3,787 | |||||||
Loss on extinguishment of debt | - | - | 1,083 | |||||||
Total expenses | 2,906 | 2,732 | 4,870 | |||||||
Income before income tax benefit and equity in undistributed | ||||||||||
earnings of subsidiary | 12,533 | 1,809 | 5,602 | |||||||
Income tax benefit | 1,020 | 991 | 1,539 | |||||||
Income before equity in undistributed earnings of subsidiary | 13,553 | 2,800 | 7,141 | |||||||
Equity in undistributed earnings of subsidiary | 11,977 | 20,649 | 15,658 | |||||||
Net income | $ | 25,530 | $ | 23,449 | $ | 22,799 | ||||
Condensed Statements Of Cash Flows | ' | |||||||||
Condensed Statements of Cash Flows | Years ended December 31, | |||||||||
2013 | 2012 | 2011 | ||||||||
Cash flows from operating activities: | ||||||||||
Net income | $ | 25,530 | $ | 23,449 | $ | 22,799 | ||||
Adjustments to reconcile net income to net cash provided | ||||||||||
by operating activities: | ||||||||||
Equity in (undistributed earnings) excess distributions of subsidiary | (11,977 | ) | (20,649 | ) | (15,658 | ) | ||||
Depreciation and amortization | 47 | 65 | 116 | |||||||
Share-based compensation | 407 | 526 | 1,105 | |||||||
Decrease in other assets | 166 | 805 | 771 | |||||||
(Decrease) increase in other liabilities | (17 | ) | 44 | (534 | ) | |||||
Net cash provided by operating activities | 14,156 | 4,240 | 8,599 | |||||||
Cash flows from financing activities: | ||||||||||
Redemption of junior subordinated debentures | - | - | (16,702 | ) | ||||||
Proceeds from issuance of preferred and common shares, net of issuance costs | - | - | 43,127 | |||||||
Purchase of preferred and common shares | (360 | ) | (559 | ) | (37,764 | ) | ||||
Repurchase of warrant issued to U.S. Treasury | - | - | (2,080 | ) | ||||||
Proceeds from stock options exercised | 448 | 69 | 91 | |||||||
Dividends paid | (11,218 | ) | (8,866 | ) | (7,564 | ) | ||||
Other | (118 | ) | 97 | 20 | ||||||
Net cash used in financing activities | (11,248 | ) | (9,259 | ) | (20,872 | ) | ||||
Net (decrease) increase in cash and cash equivalents | 2,908 | (5,019 | ) | (12,273 | ) | |||||
Cash and cash equivalents as of beginning of year | 6,602 | 11,621 | 23,894 | |||||||
Cash and cash equivalents as of end of the year | $ | 9,510 | $ | 6,602 | $ | 11,621 |
Summary_Of_Significant_Account3
Summary Of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
segment | |||
Significant Accounting Policies [Line Items] | ' | ' | ' |
Impairment loss related to the MSRs | $0 | $0 | $35,000 |
Days past due when loans are generally placed on nonaccrual status, in days | '90 days | ' | ' |
Days past due when loans are generally charged-off in full, in days | '120 days | ' | ' |
General period after loans become current, accrual status returned, in months | '6 months | ' | ' |
Other real estate owned | 333,000 | 184,000 | ' |
Number of reporting units | 1 | ' | ' |
FHLB stock | 15,800,000 | 8,400,000 | ' |
FRB stock | 3,900,000 | 3,900,000 | ' |
Equity method investments, asset amount | $4,800,000 | $4,700,000 | ' |
Minimum [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Standby letters of credit outstanding original term, in years | '1 year | ' | ' |
Minimum [Member] | Building and Building Improvements [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Premise and equipment, estimated useful lives, in years | '15 years | ' | ' |
Minimum [Member] | Software, Furniture And Equipment [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Premise and equipment, estimated useful lives, in years | '3 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Standby letters of credit outstanding original term, in years | '5 years | ' | ' |
Maximum [Member] | Building and Building Improvements [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Premise and equipment, estimated useful lives, in years | '39 years | ' | ' |
Maximum [Member] | Software, Furniture And Equipment [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Premise and equipment, estimated useful lives, in years | '10 years | ' | ' |
Core Deposits [Member] | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Intangible assets with definite useful lives, estimated life | '9 years 6 months | ' | ' |
Summary_Of_Significant_Account4
Summary Of Significant Accounting Policies (Summary Of Supplemental Cash Flow Information) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Summary Of Significant Accounting Policies [Abstract] | ' | ' | ' |
Interest expense | $7,750 | $10,438 | $15,668 |
Income taxes | 8,095 | 4,014 | 5,191 |
Real estate and other assets acquired in settlement of loans | 726 | 322 | 305 |
Accrued and declared unpaid dividends | 2,981 | 2,562 | 2,144 |
Accretion of preferred stock discount | ' | ' | 1,305 |
(Decrease) increase in net unsettled security purchases | -51,112 | 51,135 | -67 |
Securities transferred from available for sale to held to maturity | 227,330 | ' | ' |
Loans transferred from held for sale to held for investment | 3,727 | ' | ' |
Net transfer of portfolio to held for sale | ' | ' | 13,576 |
Loans and other non-cash assets, excluding goodwill and core deposit intangible asset | ' | 77,912 | ' |
Deposits and other liabilities | ' | $287,331 | ' |
Branch_Acquisitions_Schedule_O
Branch Acquisitions (Schedule Of Assets Purchased And Liabilities Assumed) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jan. 19, 2012 | Jan. 19, 2012 | Jun. 22, 2012 |
First Niagara Bank [Member] | HSBC Bank USA [Member] | First Niagara Bank [Member] | |||
store | store | ||||
Significant Acquisitions and Disposals [Line Items] | ' | ' | ' | ' | ' |
Number of Stores | ' | ' | 4 | 4 | ' |
Loan portfolio at fair value discount | ' | ' | ' | ' | $824 |
Time deposit premium | ' | ' | ' | ' | 335 |
Reduction in goodwill | 432 | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | 195,778 |
Loans | ' | ' | ' | ' | 75,635 |
Bank premises and equipment | ' | ' | ' | ' | 1,938 |
Goodwill | ' | 11,200 | ' | ' | 11,167 |
Core deposit intangible asset | ' | ' | ' | ' | 2,042 |
Other assets | ' | ' | ' | ' | 601 |
Total assets acquired | ' | ' | ' | ' | 287,161 |
Deposits assumed | ' | ' | ' | ' | 286,819 |
Other liabilities | ' | ' | ' | ' | 342 |
Total liabilities assumed | ' | ' | ' | ' | $287,161 |
Investment_Securities_Narrativ
Investment Securities (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
security | security | ||
Investment Securities [Abstract] | ' | ' | ' |
Securities transferred from available for sale to held to maturity | $227,330,000 | ' | ' |
Unrealized holding gains | 78,000 | ' | ' |
Number of security positions, unrealized loss position | 331 | 52 | ' |
Number of security positions, unrealized loss position for more than 12 months | 14 | ' | ' |
Fair value, continuous unrealized loss position for more than 12 months | 50,928,000 | 4,140,000 | ' |
Unrealized loss, continuous unrealized loss position for more than 12 months | 2,818,000 | 4,000 | ' |
Number of security positions, unrealized loss position for less than 12 months | 317 | ' | ' |
Fair value, continuous unrealized loss position for less than 12 months | 335,030,000 | 46,936,000 | ' |
Unrealized loss, continuous unrealized loss position for less than 12 months | 14,778,000 | 327,000 | ' |
OTTI charge recognized | $0 | $91,000 | $18,000 |
Investment_Securities_Summary_
Investment Securities (Summary Of Amortized Cost And Fair Value Of Investment Securities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | $618,166 | $797,201 |
Securities available for sale, Unrealized Gains | 8,830 | 26,926 |
Securities available for sale, Unrealized Losses | 17,596 | 331 |
Securities available for sale, Fair Value | 609,400 | 823,796 |
Securities held to maturity, Amortized Cost | 249,785 | 17,905 |
Securities held to maturity, Fair Value | 250,657 | 18,478 |
U.S. Government Agencies And Government Sponsored Enterprises [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 135,840 | 128,097 |
Securities available for sale, Unrealized Gains | 1,414 | 3,667 |
Securities available for sale, Unrealized Losses | 2,802 | 69 |
Securities available for sale, Fair Value | 134,452 | 131,695 |
State And Political Subdivisions [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | ' | 188,997 |
Securities available for sale, Unrealized Gains | ' | 6,285 |
Securities available for sale, Unrealized Losses | ' | 72 |
Securities available for sale, Fair Value | ' | 195,210 |
Securities held to maturity, Amortized Cost | 249,785 | 17,905 |
Securities held to maturity, Unrealized Gains | 1,340 | 573 |
Securities held to maturity, Unrealized Losses | 468 | ' |
Securities held to maturity, Fair Value | 250,657 | 18,478 |
Mortgage-Backed Securities [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 482,308 | 479,986 |
Securities available for sale, Unrealized Gains | 7,035 | 16,072 |
Securities available for sale, Unrealized Losses | 14,794 | 190 |
Securities available for sale, Fair Value | 474,549 | 495,868 |
Mortgage-Backed Securities [Member] | FNMA [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 173,507 | 147,946 |
Securities available for sale, Unrealized Gains | 1,511 | 4,394 |
Securities available for sale, Unrealized Losses | 4,810 | 188 |
Securities available for sale, Fair Value | 170,208 | 152,152 |
Mortgage-Backed Securities [Member] | FHLMC [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 36,737 | 65,426 |
Securities available for sale, Unrealized Gains | 562 | 1,430 |
Securities available for sale, Unrealized Losses | 205 | ' |
Securities available for sale, Fair Value | 37,094 | 66,856 |
Mortgage-Backed Securities [Member] | GNMA I [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 61,832 | 56,166 |
Securities available for sale, Unrealized Gains | 2,152 | 3,279 |
Securities available for sale, Unrealized Losses | 142 | ' |
Securities available for sale, Fair Value | 63,842 | 59,445 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 210,232 | 210,448 |
Securities available for sale, Unrealized Gains | 2,810 | 6,969 |
Securities available for sale, Unrealized Losses | 9,637 | 2 |
Securities available for sale, Fair Value | 203,405 | 217,415 |
Collateralized Mortgage Obligations [Member] | FNMA [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 63,838 | 60,805 |
Securities available for sale, Unrealized Gains | 261 | 1,865 |
Securities available for sale, Unrealized Losses | 3,195 | 2 |
Securities available for sale, Fair Value | 60,904 | 62,668 |
Collateralized Mortgage Obligations [Member] | FHLMC [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 102,660 | 78,581 |
Securities available for sale, Unrealized Gains | 169 | 1,911 |
Securities available for sale, Unrealized Losses | 5,856 | ' |
Securities available for sale, Fair Value | 96,973 | 80,492 |
Collateralized Mortgage Obligations [Member] | GNMA I [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 43,734 | 70,989 |
Securities available for sale, Unrealized Gains | 913 | 2,168 |
Securities available for sale, Unrealized Losses | 586 | ' |
Securities available for sale, Fair Value | 44,061 | 73,157 |
Collateralized Mortgage Obligations [Member] | Privately Issued [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | ' | 73 |
Securities available for sale, Unrealized Gains | 1,467 | 1,025 |
Securities available for sale, Fair Value | 1,467 | 1,098 |
Asset-Backed Securities [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 18 | 121 |
Securities available for sale, Unrealized Gains | 381 | 902 |
Securities available for sale, Fair Value | $399 | $1,023 |
Investment_Securities_Interest
Investment Securities (Interest And Dividends On Securities) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investment Securities [Abstract] | ' | ' | ' |
Taxable interest and dividends | $12,541 | $12,202 | $14,185 |
Tax-exempt interest and dividends | 4,922 | 4,242 | 3,828 |
Total interest and dividends on securities | $17,463 | $16,444 | $18,013 |
Investment_Securities_Sales_An
Investment Securities (Sales And Calls Of Securities Available For Sale) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investment Securities [Abstract] | ' | ' | ' |
Proceeds from sales | $1,327 | $2,823 | $44,514 |
Gross realized gains | 1,226 | 2,651 | 3,051 |
Gross realized losses | ' | ' | $48 |
Investment_Securities_Schedule
Investment Securities (Scheduled Maturities Of Securities Available For Sale And Securities Held To Maturity) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Investment Securities [Abstract] | ' |
Debt securities available for sale, Due in one year or less, Amortized Cost | $24,205 |
Debt securities available for sale, Due from one to five years, Amortized Cost | 28,163 |
Debt securities available for sale, Due after five years through ten years, Amortized Cost | 238,364 |
Debt securities available for sale, Due after ten years, Amortized Cost | 327,434 |
Debt securities available for sale, Amortized Cost | 618,166 |
Debt securities available for sale, Due in one year or less, Fair Value | 24,204 |
Debt securities available for sale, Due from one to five years, Fair Value | 28,932 |
Debt securities available for sale, Due after five years through ten years, Fair Value | 232,854 |
Debt securities available for sale, Due after ten years, Fair Value | 323,410 |
Debt securities available for sale, Fair Value | 609,400 |
Debt securities held to maturity, Due in one year or less, Amortized Cost | 25,289 |
Debt securities held to maturity, Due from one to five years, Amortized Cost | 109,911 |
Debt securities held to maturity, Due after five years through ten years, Amortized Cost | 114,543 |
Debt securities held to maturity, Due after ten years, Amortized Cost | 42 |
Debt securities held to maturity, Amortized Cost | 249,785 |
Debt securities held to maturity, Due in one year or less, Fair Value | 25,371 |
Debt securities held to maturity, Due from one to five years, Fair Value | 110,862 |
Debt securities held to maturity, Due after five years through ten years, Fair Value | 114,371 |
Debt securities held to maturity, Due after ten years, Fair Value | 53 |
Debt securities held to maturity, Fair Value | $250,657 |
Investment_Securities_Investme
Investment Securities (Investments' Gross Unrealized Losses And Fair Value) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | $335,030 | $46,936 |
Securities available for sale, Less than 12 months, Unrealized Losses | 14,778 | 327 |
Securities available for sale, 12 months or longer, Fair Value | 50,928 | 4,140 |
Securities available for sale, 12 months or longer, Unrealized Losses | 2,818 | 4 |
Securities available for sale, Fair Value, Total | 385,958 | 51,076 |
Securities available for sale, Unrealized Losses, Total | 17,596 | 331 |
Securities held to maturity, Less than 12 months, Fair Value | 407,299 | ' |
Securities held to maturity, Less than 12 months, Unrealized Losses | 15,246 | ' |
Securities held to maturity, 12 months or longer, Fair Value | 50,928 | ' |
Securities held to maturity, 12 months or longer, Unrealized Losses | 2,818 | ' |
Securities held to maturity, Fair Value, Total | 458,227 | ' |
Securities held to maturity, Unrealized Losses, Total | 18,064 | ' |
U.S. Government Agencies And Government Sponsored Enterprises [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 86,177 | 13,265 |
Securities available for sale, Less than 12 months, Unrealized Losses | 2,788 | 67 |
Securities available for sale, 12 months or longer, Fair Value | 2,717 | 2,967 |
Securities available for sale, 12 months or longer, Unrealized Losses | 14 | 2 |
Securities available for sale, Fair Value, Total | 88,894 | 16,232 |
Securities available for sale, Unrealized Losses, Total | 2,802 | 69 |
State And Political Subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | ' | 8,471 |
Securities available for sale, Less than 12 months, Unrealized Losses | ' | 72 |
Securities available for sale, Fair Value, Total | ' | 8,471 |
Securities available for sale, Unrealized Losses, Total | ' | 72 |
Securities held to maturity, Less than 12 months, Fair Value | 72,269 | ' |
Securities held to maturity, Less than 12 months, Unrealized Losses | 468 | ' |
Securities held to maturity, Fair Value, Total | 72,269 | ' |
Securities held to maturity, Unrealized Losses, Total | 468 | ' |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 248,853 | 25,200 |
Securities available for sale, Less than 12 months, Unrealized Losses | 11,990 | 188 |
Securities available for sale, 12 months or longer, Fair Value | 48,211 | 1,173 |
Securities available for sale, 12 months or longer, Unrealized Losses | 2,804 | 2 |
Securities available for sale, Fair Value, Total | 297,064 | 26,373 |
Securities available for sale, Unrealized Losses, Total | 14,794 | 190 |
Mortgage-Backed Securities [Member] | FNMA [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 103,778 | 25,200 |
Securities available for sale, Less than 12 months, Unrealized Losses | 3,491 | 188 |
Securities available for sale, 12 months or longer, Fair Value | 20,689 | ' |
Securities available for sale, 12 months or longer, Unrealized Losses | 1,319 | ' |
Securities available for sale, Fair Value, Total | 124,467 | 25,200 |
Securities available for sale, Unrealized Losses, Total | 4,810 | 188 |
Mortgage-Backed Securities [Member] | FHLMC [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 14,166 | ' |
Securities available for sale, Less than 12 months, Unrealized Losses | 205 | ' |
Securities available for sale, Fair Value, Total | 14,166 | ' |
Securities available for sale, Unrealized Losses, Total | 205 | ' |
Mortgage-Backed Securities [Member] | GNMA I [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 14,226 | ' |
Securities available for sale, Less than 12 months, Unrealized Losses | 142 | ' |
Securities available for sale, Fair Value, Total | 14,226 | ' |
Securities available for sale, Unrealized Losses, Total | 142 | ' |
Collateralized Mortgage Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 116,683 | ' |
Securities available for sale, Less than 12 months, Unrealized Losses | 8,152 | ' |
Securities available for sale, 12 months or longer, Fair Value | 27,522 | 1,173 |
Securities available for sale, 12 months or longer, Unrealized Losses | 1,485 | 2 |
Securities available for sale, Fair Value, Total | 144,205 | 1,173 |
Securities available for sale, Unrealized Losses, Total | 9,637 | 2 |
Collateralized Mortgage Obligations [Member] | FNMA [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 35,632 | ' |
Securities available for sale, Less than 12 months, Unrealized Losses | 2,586 | ' |
Securities available for sale, 12 months or longer, Fair Value | 11,760 | 1,173 |
Securities available for sale, 12 months or longer, Unrealized Losses | 609 | 2 |
Securities available for sale, Fair Value, Total | 47,392 | 1,173 |
Securities available for sale, Unrealized Losses, Total | 3,195 | 2 |
Collateralized Mortgage Obligations [Member] | FHLMC [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 72,655 | ' |
Securities available for sale, Less than 12 months, Unrealized Losses | 4,980 | ' |
Securities available for sale, 12 months or longer, Fair Value | 15,762 | ' |
Securities available for sale, 12 months or longer, Unrealized Losses | 876 | ' |
Securities available for sale, Fair Value, Total | 88,417 | ' |
Securities available for sale, Unrealized Losses, Total | 5,856 | ' |
Collateralized Mortgage Obligations [Member] | GNMA I [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 8,396 | ' |
Securities available for sale, Less than 12 months, Unrealized Losses | 586 | ' |
Securities available for sale, Fair Value, Total | 8,396 | ' |
Securities available for sale, Unrealized Losses, Total | $586 | ' |
Loans_Held_For_Sale_And_Loan_S2
Loans Held For Sale And Loan Servicing Rights (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Loans Held For Sale And Loan Servicing Rights [Abstract] | ' | ' |
Loans held for sale | $3,381,000 | $1,518,000 |
Residential real estate mortgages serviced for others | 237,900,000 | 273,300,000 |
Escrow and other custodial funds | $4,900,000 | $5,600,000 |
Loans_Held_For_Sale_And_Loan_S3
Loans Held For Sale And Loan Servicing Rights (Activity In Capitalized Mortgage Serving Assets) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Loans Held For Sale And Loan Servicing Rights [Abstract] | ' | ' | ' |
Mortgage servicing assets, beginning of year | $1,637 | $1,609 | $1,642 |
Originations | 277 | 554 | 319 |
Amortization | -435 | -526 | -352 |
Mortgage servicing assets, end of year | 1,479 | 1,637 | 1,609 |
Valuation allowance | -3 | -168 | -210 |
Mortgage servicing assets, net, end of year | $1,476 | $1,469 | $1,399 |
Loans_Narrative_Details
Loans (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans held for sale | $3,381,000 | $1,518,000 | ' |
Loans, related parties | 2,900,000 | 292,000 | ' |
Loans, related parties, new borrowings | 2,700,000 | ' | ' |
Loans, related parties, repayments and other reductions | 79,000 | ' | ' |
Past due greater than 90 days | 6,000 | 18,000 | ' |
Number of TDR loans in default | ' | 1 | ' |
TDRs in default, amount | ' | 52,000 | ' |
Average recorded investment | 8,373,000 | 6,037,000 | ' |
Days past due when loans are generally placed on nonaccrual status, in days | '90 days | ' | ' |
Accrued Interest According To Original Contractual Terms [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Estimated interest income | 531,000 | 555,000 | 438,000 |
Consumer Overdrafts [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Past due greater than 90 days | $6,000 | $18,000 | ' |
Loans_Loan_Portfolio_Details
Loans (Loan Portfolio) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Principal Amount Outstanding | $1,802,105 | $1,675,453 |
Net Deferred Loan (Fees) Costs | 31,514 | 30,273 |
Loans, Net | 1,833,619 | 1,705,726 |
Allowance for loan losses | -26,736 | -24,714 |
Total loans, net | 1,806,883 | 1,681,012 |
Commercial Business [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Principal Amount Outstanding | 265,751 | 258,706 |
Net Deferred Loan (Fees) Costs | 15 | -31 |
Loans, Net | 265,766 | 258,675 |
Commercial Mortgage [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Principal Amount Outstanding | 470,312 | 414,282 |
Net Deferred Loan (Fees) Costs | -1,028 | -958 |
Loans, Net | 469,284 | 413,324 |
Residential Mortgage [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Principal Amount Outstanding | 113,101 | 133,341 |
Net Deferred Loan (Fees) Costs | -56 | 179 |
Loans, Net | 113,045 | 133,520 |
Home Equity [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Principal Amount Outstanding | 320,658 | 282,503 |
Net Deferred Loan (Fees) Costs | 5,428 | 4,146 |
Loans, Net | 326,086 | 286,649 |
Consumer Indirect [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Principal Amount Outstanding | 609,390 | 559,964 |
Net Deferred Loan (Fees) Costs | 26,978 | 26,830 |
Loans, Net | 636,368 | 586,794 |
Other Consumer [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Principal Amount Outstanding | 22,893 | 26,657 |
Net Deferred Loan (Fees) Costs | 177 | 107 |
Loans, Net | $23,070 | $26,764 |
Loans_Recorded_Investment_By_L
Loans (Recorded Investment By Loan Class In Current And Nonaccrual Loans) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | $4,905 | $3,330 | ' |
60-89 Days Past Due | 890 | 208 | ' |
Greater Than 90 Days | 6 | 18 | ' |
Total Past Due | 5,801 | 3,556 | ' |
Nonaccrual | 16,616 | 9,107 | ' |
Current | 1,779,688 | 1,662,790 | ' |
Total loans | 1,802,105 | 1,675,453 | 1,459,424 |
Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 558 | 160 | ' |
60-89 Days Past Due | 199 | ' | ' |
Total Past Due | 757 | 160 | ' |
Nonaccrual | 3,474 | 3,413 | ' |
Current | 261,520 | 255,133 | ' |
Total loans | 265,751 | 258,706 | 233,727 |
Commercial Mortgage [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 800 | 331 | ' |
Total Past Due | 800 | 331 | ' |
Nonaccrual | 9,663 | 1,799 | ' |
Current | 459,849 | 412,152 | ' |
Total loans | 470,312 | 414,282 | 394,034 |
Residential Mortgage [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 542 | 376 | ' |
Total Past Due | 542 | 376 | ' |
Nonaccrual | 1,078 | 2,040 | ' |
Current | 111,481 | 130,925 | ' |
Total loans | 113,101 | 133,341 | 113,865 |
Home Equity [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 750 | 675 | ' |
60-89 Days Past Due | 143 | 10 | ' |
Total Past Due | 893 | 685 | ' |
Nonaccrual | 925 | 939 | ' |
Current | 318,840 | 280,879 | ' |
Total loans | 320,658 | 282,503 | 227,853 |
Consumer Indirect [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 2,129 | 1,661 | ' |
60-89 Days Past Due | 476 | 163 | ' |
Total Past Due | 2,605 | 1,824 | ' |
Nonaccrual | 1,471 | 891 | ' |
Current | 605,314 | 557,249 | ' |
Total loans | 609,390 | 559,964 | 465,807 |
Other Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 126 | 127 | ' |
60-89 Days Past Due | 72 | 35 | ' |
Greater Than 90 Days | 6 | 18 | ' |
Total Past Due | 204 | 180 | ' |
Nonaccrual | 5 | 25 | ' |
Current | 22,684 | 26,452 | ' |
Total loans | $22,893 | $26,657 | $24,138 |
Loans_Information_Related_To_L
Loans (Information Related To Loans Modified In A TDR) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
loan | loan | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 6 | 7 |
Pre-Modification Outstanding Recorded Investment | $8,800 | $1,184 |
Post-Modification Outstanding Recorded Investment | 8,391 | 1,184 |
Commercial Business [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 4 | 3 |
Pre-Modification Outstanding Recorded Investment | 1,465 | 536 |
Post-Modification Outstanding Recorded Investment | 1,456 | 536 |
Commercial Mortgage [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 2 | 4 |
Pre-Modification Outstanding Recorded Investment | 7,335 | 648 |
Post-Modification Outstanding Recorded Investment | $6,935 | $648 |
Loans_Summary_Of_Impaired_Loan
Loans (Summary Of Impaired Loans) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Recorded Investment, With no related allowance recorded | $2,652 | [1] | $1,874 | [1] |
Recorded Investment, With an allowance recorded | 10,485 | [1] | 3,338 | [1] |
Recorded Investment | 13,137 | [1] | 5,212 | [1] |
Unpaid Principal Balance, With no related allowance recorded | 3,179 | [1] | 2,427 | [1] |
Unpaid Principal Balance, With an allowance recorded | 10,905 | [1] | 3,338 | [1] |
Unpaid Principal Balance | 14,084 | [1] | 5,765 | [1] |
Related Allowance | 1,258 | 974 | ||
Average Recorded Investment, With no related allowance recorded | 1,419 | 2,065 | ||
Average Recorded Investment, With an allowance recorded | 6,954 | 3,972 | ||
Average Recorded Investment | 8,373 | 6,037 | ||
Interest Income Recognized, With no related allowance recorded | ' | ' | ||
Interest Income Recognized, With an allowance recorded | ' | ' | ||
Interest Income Recognized | ' | ' | ||
Commercial Business [Member] | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Recorded Investment, With no related allowance recorded | 1,777 | [1] | 963 | [1] |
Recorded Investment, With an allowance recorded | 1,697 | [1] | 2,450 | [1] |
Unpaid Principal Balance, With no related allowance recorded | 2,273 | [1] | 1,425 | [1] |
Unpaid Principal Balance, With an allowance recorded | 1,717 | [1] | 2,450 | [1] |
Related Allowance | 201 | 664 | ||
Average Recorded Investment, With no related allowance recorded | 659 | 755 | ||
Average Recorded Investment, With an allowance recorded | 3,196 | 2,114 | ||
Interest Income Recognized, With no related allowance recorded | ' | ' | ||
Interest Income Recognized, With an allowance recorded | ' | ' | ||
Commercial Mortgage [Member] | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Recorded Investment, With no related allowance recorded | 875 | [1] | 911 | [1] |
Recorded Investment, With an allowance recorded | 8,788 | [1] | 888 | [1] |
Unpaid Principal Balance, With no related allowance recorded | 906 | [1] | 1,002 | [1] |
Unpaid Principal Balance, With an allowance recorded | 9,188 | [1] | 888 | [1] |
Related Allowance | 1,057 | 310 | ||
Average Recorded Investment, With no related allowance recorded | 760 | 1,310 | ||
Average Recorded Investment, With an allowance recorded | 3,758 | 1,858 | ||
Interest Income Recognized, With no related allowance recorded | ' | ' | ||
Interest Income Recognized, With an allowance recorded | ' | ' | ||
[1] | Difference between recorded investment and unpaid principal balance represents partial charge-offs. |
Loans_Commercial_Loan_Portfoli
Loans (Commercial Loan Portfolio Categorized By Internally Assigned Asset Classification) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | $1,802,105 | $1,675,453 |
Commercial Business [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 265,751 | 258,706 |
Commercial Business [Member] | Uncriticized [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 250,553 | 240,291 |
Commercial Business [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 6,311 | 6,591 |
Commercial Business [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 8,887 | 11,824 |
Commercial Business [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | ' | ' |
Commercial Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 470,312 | 414,282 |
Commercial Mortgage [Member] | Uncriticized [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 449,447 | 400,576 |
Commercial Mortgage [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 6,895 | 6,495 |
Commercial Mortgage [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 13,970 | 7,211 |
Commercial Mortgage [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | ' | ' |
Loans_Retail_Loan_Portfolio_Ca
Loans (Retail Loan Portfolio Categorized By Payment Status) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | $1,802,105 | $1,675,453 |
Residential Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 113,101 | 133,341 |
Residential Mortgage [Member] | Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 112,023 | 131,301 |
Residential Mortgage [Member] | Non-Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 1,078 | 2,040 |
Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 320,658 | 282,503 |
Home Equity [Member] | Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 319,733 | 281,564 |
Home Equity [Member] | Non-Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 925 | 939 |
Consumer Indirect [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 609,390 | 559,964 |
Consumer Indirect [Member] | Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 607,919 | 559,073 |
Consumer Indirect [Member] | Non-Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 1,471 | 891 |
Other Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 22,893 | 26,657 |
Other Consumer [Member] | Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 22,882 | 26,632 |
Other Consumer [Member] | Non-Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | $11 | $25 |
Loans_Changes_In_The_Allowance
Loans (Changes In The Allowance For Loan Losses) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | $24,714 | $23,260 | $20,466 |
Charge-offs | -11,478 | -9,568 | -8,288 |
Recoveries | 4,421 | 3,894 | 3,302 |
Provision (credit) | 9,079 | 7,128 | 7,780 |
Ending balance | 26,736 | 24,714 | 23,260 |
Allowance for loan losses, Individually Evaluated for impairment | 1,258 | 974 | 1,080 |
Allowance for loan losses, Collectively Evaluated for impairment | 25,478 | 23,740 | 22,180 |
Loans, Ending balance | 1,802,105 | 1,675,453 | 1,459,424 |
Loans, Individually Evaluated for impairment | 13,137 | 5,212 | 4,187 |
Loans, Collectively Evaluated for impairment | 1,788,968 | 1,670,241 | 1,455,237 |
Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 4,884 | 4,036 | 3,712 |
Charge-offs | -1,070 | -729 | -1,346 |
Recoveries | 349 | 336 | 401 |
Provision (credit) | 110 | 1,241 | 1,269 |
Ending balance | 4,273 | 4,884 | 4,036 |
Allowance for loan losses, Individually Evaluated for impairment | 201 | 664 | 436 |
Allowance for loan losses, Collectively Evaluated for impairment | 4,072 | 4,220 | 3,600 |
Loans, Ending balance | 265,751 | 258,706 | 233,727 |
Loans, Individually Evaluated for impairment | 3,474 | 3,413 | 1,259 |
Loans, Collectively Evaluated for impairment | 262,277 | 255,293 | 232,468 |
Commercial Mortgage [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 6,581 | 6,418 | 6,431 |
Charge-offs | -553 | -745 | -751 |
Recoveries | 319 | 261 | 245 |
Provision (credit) | 1,396 | 647 | 493 |
Ending balance | 7,743 | 6,581 | 6,418 |
Allowance for loan losses, Individually Evaluated for impairment | 1,057 | 310 | 644 |
Allowance for loan losses, Collectively Evaluated for impairment | 6,686 | 6,271 | 5,774 |
Loans, Ending balance | 470,312 | 414,282 | 394,034 |
Loans, Individually Evaluated for impairment | 9,663 | 1,799 | 2,928 |
Loans, Collectively Evaluated for impairment | 460,649 | 412,483 | 391,106 |
Residential Mortgage [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 740 | 858 | 1,013 |
Charge-offs | -411 | -326 | -152 |
Recoveries | 54 | 130 | 90 |
Provision (credit) | 293 | 78 | -93 |
Ending balance | 676 | 740 | 858 |
Allowance for loan losses, Collectively Evaluated for impairment | 676 | 740 | 858 |
Loans, Ending balance | 113,101 | 133,341 | 113,865 |
Loans, Collectively Evaluated for impairment | 113,101 | 133,341 | 113,865 |
Home Equity [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 1,282 | 1,242 | 972 |
Charge-offs | -391 | -305 | -449 |
Recoveries | 157 | 44 | 44 |
Provision (credit) | 319 | 301 | 675 |
Ending balance | 1,367 | 1,282 | 1,242 |
Allowance for loan losses, Collectively Evaluated for impairment | 1,367 | 1,282 | 1,242 |
Loans, Ending balance | 320,658 | 282,503 | 227,853 |
Loans, Collectively Evaluated for impairment | 320,658 | 282,503 | 227,853 |
Consumer Indirect [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 10,715 | 10,189 | 7,754 |
Charge-offs | -8,125 | -6,589 | -4,713 |
Recoveries | 3,161 | 2,769 | 2,066 |
Provision (credit) | 6,479 | 4,346 | 5,082 |
Ending balance | 12,230 | 10,715 | 10,189 |
Allowance for loan losses, Collectively Evaluated for impairment | 12,230 | 10,715 | 10,189 |
Loans, Ending balance | 609,390 | 559,964 | 465,807 |
Loans, Collectively Evaluated for impairment | 609,390 | 559,964 | 465,807 |
Other Consumer [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 512 | 517 | 584 |
Charge-offs | -928 | -874 | -877 |
Recoveries | 381 | 354 | 456 |
Provision (credit) | 482 | 515 | 354 |
Ending balance | 447 | 512 | 517 |
Allowance for loan losses, Collectively Evaluated for impairment | 447 | 512 | 517 |
Loans, Ending balance | 22,893 | 26,657 | 24,138 |
Loans, Collectively Evaluated for impairment | $22,893 | $26,657 | $24,138 |
Premises_And_Equipment_Net_Det
Premises And Equipment, Net (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Premises and equipment | $75,177 | $72,725 | ' |
Accumulated depreciation and amortization | -39,168 | -36,107 | ' |
Premises and equipment, net | 36,009 | 36,618 | ' |
Depreciation and amortization | 4,181 | 3,828 | 3,466 |
Land and Land Improvements [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Premises and equipment | 4,883 | 4,883 | ' |
Buildings And Leasehold Improvements [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Premises and equipment | 44,830 | 43,402 | ' |
Furniture, Fixtures, Equipment And Vehicles [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Premises and equipment | 25,464 | 24,440 | ' |
Occupancy and Equipment Expense [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation and amortization | $3,800 | $3,600 | $3,500 |
Goodwill_And_Other_Intangible_2
Goodwill And Other Intangible Assets (Change In The Balance For Goodwill) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill And Other Intangible Assets [Abstract] | ' | ' |
Goodwill, Beginning of year | $48,536 | $37,369 |
Branch acquisitions | ' | 11,167 |
Impairment | ' | ' |
Goodwill, End of year | $48,536 | $48,536 |
Goodwill_And_Other_Intangible_3
Goodwill And Other Intangible Assets (Changes In The Accumulated Amortization And Net Book Value) (Details) (Core Deposits [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Core Deposits [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Gross carrying amount | $2,042 | $2,042 |
Accumulated amortization | -576 | -189 |
Net book value | 1,466 | 1,853 |
Amortization during the year | $387 | $189 |
Goodwill_And_Other_Intangible_4
Goodwill And Other Intangible Assets (Estimated Core Deposit Intangible Amortization Expense) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Goodwill And Other Intangible Assets [Abstract] | ' |
2014 | $341 |
2015 | 296 |
2016 | 251 |
2017 | 205 |
2018 | $160 |
Deposits_Narrative_Details
Deposits (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Deposits: | ' | ' |
Time deposits, $100,000 or more | $226 | $222.40 |
Deposits_Summary_Of_Deposits_D
Deposits (Summary Of Deposits) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits: | ' | ' |
Noninterest-bearing demand | $535,472 | $501,514 |
Interest-bearing demand | 470,733 | 449,744 |
Savings and money market | 717,928 | 655,598 |
Certificates of deposit, due: Within one year | 448,997 | 495,423 |
Certificates of deposit, due: One to two years | 77,219 | 91,052 |
Certificates of deposit, due: Two to three years | 23,642 | 35,993 |
Certificates of deposit, due: Three to five years | 46,045 | 31,721 |
Certificates of deposit, due: Thereafter | 20 | 749 |
Total certificates of deposit | 595,923 | 654,938 |
Total deposits | $2,320,056 | $2,261,794 |
Deposits_Interest_Expense_By_D
Deposits (Interest Expense By Deposits Type) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Deposits: | ' | ' | ' |
Interest-bearing demand | $729 | $598 | $614 |
Savings and money market | 978 | 998 | 1,056 |
Certificates of deposit | 4,893 | 6,866 | 9,764 |
Total interest expense on deposits | $6,600 | $8,462 | $11,434 |
Borrowings_Narrative_Details
Borrowings (Narrative) (Details) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||
Aug. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 28, 2001 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Common Equity Of Financial Institutions Statutory Trust I [Member] | Common Equity Of Financial Institutions Statutory Trust I [Member] | Federal Funds Purchased [Member] | Federal Funds Purchased [Member] | Short-term FHLB Borrowings [Member] | Short-term FHLB Borrowings [Member] | Short-term FHLB Borrowings [Member] | FHLB Overnight Borrowings [Member] | FHLB Overnight Borrowings [Member] | FHLB Short-Term Advances [Member] | FHLB Short-Term Advances [Member] | |||||
Minimum [Member] | Maximum [Member] | Maximum [Member] | |||||||||||||
Short-term Debt [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term borrowings, weighted average rate | ' | ' | 0.38% | 0.54% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term debt maturity period | ' | ' | ' | ' | ' | ' | '1 day | '90 days | ' | ' | '1 day | ' | ' | ' | ' |
Short-term borrowings | ' | ' | $337,042,000 | $179,806,000 | ' | ' | ' | ' | $298,000,000 | $139,000,000 | ' | $198,000,000 | $99,000,000 | $100,000,000 | $40,000,000 |
Other Assets | ' | ' | 64,313,000 | 44,805,000 | 502,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term borrowings | ' | ' | ' | ' | 16,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate on junior subordinated debentures | ' | ' | ' | ' | 10.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost related to issuance of debentures | ' | ' | ' | ' | 487,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred cost amortization period, in years | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption price percentage of principal amount redeemed | 105.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on extinguishment of debt | 1,100,000 | 1,083,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption premium | 852,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write-off of the unamortized issuance costs | $231,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings_Summary_Of_Outstand
Borrowings (Summary Of Outstanding Short-Term Borrowings) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Short-term Debt [Line Items] | ' | ' |
Total short-term borrowings | $337,042 | $179,806 |
Repurchase Agreements [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Total short-term borrowings | 39,042 | 40,806 |
Short-term FHLB Borrowings [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Total short-term borrowings | $298,000 | $139,000 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments And Contingencies [Abstract] | ' | ' | ' |
Forward sales commitments | $0 | $1.80 | ' |
Rent expense | $1.70 | $1.60 | $1.50 |
Commitments_And_Contingencies_2
Commitments And Contingencies (Off-Balance Sheet Commitments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Off-balance sheet commitments | ' | ' |
Commitments To Extend Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Off-balance sheet commitments | 431,236 | 435,948 |
Standby Letters Of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Off-balance sheet commitments | $8,618 | $9,223 |
Commitments_And_Contingencies_3
Commitments And Contingencies (Leases Future Minimum Payments By Years And In The Aggregate) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies [Abstract] | ' |
2014 | $1,440 |
2015 | 1,381 |
2016 | 1,273 |
2017 | 878 |
2018 | 626 |
Thereafter | 3,796 |
Lease obligations, total | $9,394 |
Regulatory_Matters_Narrative_D
Regulatory Matters (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Preferred Equity [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 capital | $17,300,000 | ' |
Federal Reserve Bank Of New York [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Reserve requirement | $1,000,000 | $1,000,000 |
Regulatory_Matters_Actual_And_
Regulatory Matters (Actual And Required Capital Ratios) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Parent Company [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 leverage, Actual Amount | $215,024 | $200,255 |
Tier 1 leverage, Actual Ratio | 7.63% | 7.71% |
Tier 1 leverage, For Capital Adequacy Purposes, Amount | 112,660 | 103,845 |
Tier 1 leverage, For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Tier 1 leverage, Well Capitalized, Amount | 140,825 | 129,806 |
Tier 1 leverage, Well Capitalized, Ratio | 5.00% | 5.00% |
Tier 1 capital, Actual Amount | 215,024 | 200,255 |
Tier 1 capital, Actual Ratio | 10.82% | 10.73% |
Tier 1 capital, For Capital Adequacy Purposes, Amount | 79,459 | 74,681 |
Tier 1 capital, For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Tier 1 capital, Well Capitalized, Amount | 119,188 | 112,022 |
Tier 1 capital, Well Capitalized, Ratio | 6.00% | 6.00% |
Total risk-based capital, Actual Amount | 239,878 | 223,610 |
Total risk-based capital, Actual Ratio | 12.08% | 11.98% |
Total risk-based capital, For Capital Adequacy Purposes, Amount | 158,918 | 149,363 |
Total risk-based capital, For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Total risk-based capital, Well Capitalized, Amount | 198,647 | 186,703 |
Total risk-based capital, Well Capitalized, Ratio | 10.00% | 10.00% |
Bank [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 leverage, Actual Amount | 204,336 | 192,136 |
Tier 1 leverage, Actual Ratio | 7.27% | 7.41% |
Tier 1 leverage, For Capital Adequacy Purposes, Amount | 112,498 | 103,681 |
Tier 1 leverage, For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Tier 1 leverage, Well Capitalized, Amount | 140,622 | 129,601 |
Tier 1 leverage, Well Capitalized, Ratio | 5.00% | 5.00% |
Tier 1 capital, Actual Amount | 204,336 | 192,136 |
Tier 1 capital, Actual Ratio | 10.31% | 10.31% |
Tier 1 capital, For Capital Adequacy Purposes, Amount | 79,291 | 74,526 |
Tier 1 capital, For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Tier 1 capital, Well Capitalized, Amount | 118,937 | 111,789 |
Tier 1 capital, Well Capitalized, Ratio | 6.00% | 6.00% |
Total risk-based capital, Actual Amount | 229,139 | 215,443 |
Total risk-based capital, Actual Ratio | 11.56% | 11.56% |
Total risk-based capital, For Capital Adequacy Purposes, Amount | 158,583 | 149,052 |
Total risk-based capital, For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Total risk-based capital, Well Capitalized, Amount | $198,228 | $186,315 |
Total risk-based capital, Well Capitalized, Ratio | 10.00% | 10.00% |
Shareholders_Equity_Narrative_
Shareholders' Equity (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2011 | Feb. 28, 2011 | Dec. 31, 2008 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-11 | Dec. 31, 2013 | Dec. 31, 2008 | |
Preferred Class A [Member] | Series A 3% Preferred Stock [Member] | Series A 3% Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Preferred Class B [Member] | Series B-1 8.48% Preferred Stock [Member] | Series B-1 8.48% Preferred Stock [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | ||||
Shareholders Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital shares authorized | ' | 50,210,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | 50,000,000 | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value | ' | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 |
Preferred stock, shares authorized | ' | 210,000 | ' | 10,000 | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | 200,000 | ' | ' | ' |
Preferred stock, par value | ' | $100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100 | $100 | ' | ' | ' |
Preferred stock, rate | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | 8.48% | ' | ' | ' | ' |
Preferred stock, shares issued | ' | 173,423 | 174,709 | ' | 1,496 | 1,499 | ' | ' | 7,503 | ' | ' | 171,927 | 173,210 | ' | ' | ' |
Proceeds from issuance of common stock, net of issuance costs | $43,127,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, dividend per share | ' | ' | ' | ' | $3 | ' | ' | ' | ' | ' | ' | $8.48 | ' | ' | ' | ' |
Proceeds from preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | 37,500,000 | 35,500,000 | ' | ' | ' | ' | 2,000,000 | ' |
Warrant to purchase shares, number of shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 378,175 |
Warrant exercise price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14.88 |
Preferred Stock redemption percentage | ' | ' | ' | ' | ' | ' | ' | 33.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption of Series A preferred stock | 37,447,000 | ' | ' | ' | ' | ' | 25,000,000 | 12,500,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,100,000 | ' | ' |
Shareholders_Equity_Changes_In
Shareholders' Equity (Changes In Shares Of Common Stock) (Details) | 12 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Common Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Treasury Stock [Member] | Issued [Member] | Issued [Member] | Issued [Member] | ||
Shareholders Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Shares outstanding, beginning balance | ' | 13,787,709 | 13,803,116 | ' | ' | ' | ' | ' |
Treasury stock, beginning balance | 373,888 | ' | ' | 373,888 | 358,481 | ' | ' | ' |
Shares Issued | 14,161,597 | ' | ' | ' | ' | 14,161,597 | 14,161,597 | 14,161,597 |
Restricted stock awards issued, net of forfeitures | ' | 24,058 | 7,857 | -24,058 | -7,857 | ' | ' | ' |
Stock options exercised | 23,265 | 23,265 | 4,250 | -23,265 | -4,250 | ' | ' | ' |
Treasury stock purchases | ' | -11,349 | -33,330 | 11,349 | 33,330 | ' | ' | ' |
Directors' retainer | ' | 5,672 | 5,816 | -5,672 | -5,816 | ' | ' | ' |
Shares outstanding, ending balance | ' | 13,829,355 | 13,787,709 | ' | ' | ' | ' | ' |
Treasury stock, ending balance | 332,242 | ' | ' | 332,242 | 373,888 | ' | ' | ' |
Shares Issued | 14,161,597 | ' | ' | ' | ' | 14,161,597 | 14,161,597 | 14,161,597 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Components Of Other Comprehensive Income (Loss)) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' |
Change in unrealized gain/loss during the period, Pre-tax Amount | ($34,135) | $6,682 | $22,350 |
Change in net unrealized gain on securities transferred to held to maturity, Pre-tax Amount | -72 | ' | ' |
Reclassification adjustment for gains included in income, Pre-tax Amount | -1,226 | -2,651 | -3,003 |
Reclassification adjustment for impairment charges included in income, Pre-tax Amount | ' | 91 | 18 |
Total securities available for sale and transferred securities | -35,433 | 4,122 | 19,365 |
Net actuarial gain (loss), net of amortization, Pre-tax Amount | 13,223 | -253 | -9,930 |
Prior service cost, net of amortization, Pre-tax Amount | -47 | -47 | -49 |
Total pension and post-retirement obligations | 13,176 | -300 | -9,979 |
Other comprehensive (loss) income, before tax | -22,257 | 3,822 | 9,386 |
Change in unrealized gain/loss during the period, Tax Effect | -13,522 | 2,646 | 8,855 |
Change in net unrealized gain on securities transferred to held to maturity, Tax Effect | -29 | ' | ' |
Reclassification adjustment for net gains included in net income, Tax Effect | -485 | -1,050 | -1,190 |
Reclassification adjustment for impairment charges included in income, Tax Effect | ' | 36 | 7 |
Securities available for sale, Tax Expense (Benefit) | -14,036 | 1,632 | 7,672 |
Net actuarial gain (loss), net of amortization, Tax Effect | 5,238 | -99 | -3,934 |
Prior service cost, net of amortization, Tax Effect | -19 | -19 | -19 |
Total pension and post-retirement obligations, Tax Effect | 5,219 | -118 | -3,953 |
Other comprehensive (loss) income, Tax Effect | -8,817 | 1,514 | 3,719 |
Change in unrealized gain/loss during the period, Net-of-tax Amount | -20,613 | 4,036 | 13,495 |
Change in net unrealized gain on securities transferred to held to maturity, Net-of-tax Amount | -43 | ' | ' |
Reclassification adjustment for net gains included in net income, Net-of-tax Amount | -741 | -1,601 | -1,813 |
Reclassification adjustment for impairment charges included in income, Net-of-tax Amount | ' | 55 | 11 |
Change in net unrealized gains on securities, net of tax | -21,397 | 2,490 | 11,693 |
Net actuarial gain (loss), net of amortization, Net-of-tax Amount | 7,985 | -154 | -5,996 |
Prior service cost, net of amortization, Net-of-tax Amount | -28 | -28 | -30 |
Total pension and post-retirement obligations, Net-of-tax Amount | 7,957 | -182 | -6,026 |
Other comprehensive (loss) income, net of tax | -13,440 | 2,308 | 5,667 |
Change in net unrealized gain on securities transferred to held to maturity, Pre-tax Amount | $78 | ' | ' |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss) (Activity In Accumulated Other Comprehensive Income (Loss), Net Of Tax) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
AOCI [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss), net of tax, Beginning Balance | ($12,807) | ' | ' |
Accumulated other comprehensive income (loss), net of tax, Beginning Balance | 3,253 | 945 | -4,722 |
Other comprehensive loss (income) before reclassifications | -13,483 | 3,055 | 7,132 |
Amounts reclassified from accumulated other comprehensive (loss) income | 43 | -747 | -1,465 |
Net current period other comprehensive (loss) income | -13,440 | 2,308 | 5,667 |
Accumulated other comprehensive income (loss), net of tax, Ending Balance | -4,850 | -12,807 | ' |
Accumulated other comprehensive income (loss), net of tax, Ending Balance | -10,187 | 3,253 | 945 |
Securities Available for Sale and Transferred Securities [Member] | ' | ' | ' |
AOCI [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss), net of tax, Beginning Balance | 16,060 | 13,570 | 1,877 |
Other comprehensive loss (income) before reclassifications | -20,656 | 4,036 | 13,495 |
Amounts reclassified from accumulated other comprehensive (loss) income | -741 | -1,546 | -1,802 |
Net current period other comprehensive (loss) income | -21,397 | 2,490 | 11,693 |
Accumulated other comprehensive income (loss), net of tax, Ending Balance | -5,337 | 16,060 | 13,570 |
Pension And Post-Retirement Obligations [Member] | ' | ' | ' |
AOCI [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss), net of tax, Beginning Balance | -12,807 | -12,625 | -6,599 |
Other comprehensive loss (income) before reclassifications | 7,173 | -981 | -6,363 |
Amounts reclassified from accumulated other comprehensive (loss) income | 784 | 799 | 337 |
Net current period other comprehensive (loss) income | 7,957 | -182 | -6,026 |
Accumulated other comprehensive income (loss), net of tax, Ending Balance | ($4,850) | ($12,807) | ($12,625) |
ShareBased_Compensation_Narrat
Share-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
item | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of share-based compensation plans | 2 | ' | ' |
Calculation of common stock under incentive plans, each restricted common stock share grant represented amount in shares | 1.64 | ' | ' |
Percentage available for issuance as restricted stock grants | 61.00% | ' | ' |
Expiration period | '10 years | ' | ' |
Expected recognition expense period, weighted average period in years | '1 year 7 months 6 days | ' | ' |
Aggregate intrinsic value | $106 | $10 | $31 |
Total cash received as a result of option exercises | 448 | 69 | 91 |
Unrecognized compensation expense | $325 | ' | ' |
EPS Performance Requirement [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
EPS percentage of award, one year performance period | 50.00% | ' | ' |
TSR Performance Requirement [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
TSR percentage of award, three year performance period | 50.00% | ' | ' |
Expected term | '2 years 10 months 17 days | ' | ' |
Risk free interest rate | 0.42% | ' | ' |
Expected dividend yield | 3.59% | ' | ' |
Expected stock price volatility | 37.20% | ' | ' |
Restricted Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Restricted shares of common stock awarded | 43,035 | ' | ' |
Weighted average market price of restricted stock on the date of grant | $16.94 | ' | ' |
Vesting percentage, date of grant | 50.00% | ' | ' |
Vesting percentage, one year from date of grant | 50.00% | ' | ' |
Restricted Stock Awards [Member] | TSR Performance Requirement [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Award vesting period | '3 years | ' | ' |
Management Stock Incentive Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Restricted shares of common stock awarded | 33,035 | ' | ' |
Aggregate shares reserved for issuance | 690,000 | ' | ' |
Shares available for grant | 425,000 | ' | ' |
Management Stock Incentive Plan [Member] | Restricted Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Restricted shares of common stock awarded | 1,000 | ' | ' |
Weighted average market price of restricted stock on the date of grant | $20.70 | ' | ' |
Award vesting period | '3 years | ' | ' |
Director Stock Incentive Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Weighted average market price of restricted stock on the date of grant | $19.81 | ' | ' |
Aggregate shares reserved for issuance | 250,000 | ' | ' |
Shares available for grant | 185,000 | ' | ' |
Required service period | '1 year | ' | ' |
Director Stock Incentive Plan [Member] | Restricted Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Restricted shares of common stock awarded | 9,000 | ' | ' |
Director Stock Incentive Plan [Member] | Restricted Stock Awards [Member] | Vested Immediately [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Restricted shares of common stock awarded | 4,500 | ' | ' |
Director Stock Incentive Plan [Member] | Restricted Stock Awards [Member] | Vested After Completion of One-Year Service Requirement [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Restricted shares of common stock awarded | 4,500 | ' | ' |
Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Award vesting period | '3 years | ' | ' |
Minimum [Member] | Restricted Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Award vesting period | '2 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Award vesting period | '5 years | ' | ' |
Maximum [Member] | Restricted Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Award vesting period | '3 years | ' | ' |
Maximum [Member] | Management Stock Incentive Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Maximum number of grants authorized | 500,000 | ' | ' |
ShareBased_Compensation_Summar
Share-Based Compensation (Summary Of Stock Option Activity) (Details) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 |
Share-Based Compensation [Abstract] | ' |
Outstanding at beginning of year, Number of Options | 319,275 |
Granted, Number of Options | ' |
Exercised, Number of Options | -23,265 |
Forfeited, Number of Options | ' |
Expired, Number of Options | -103,076 |
Outstanding and Exercisable at the end of period, Number of Options | 192,934 |
Outstanding at beginning of year, Weighted Average Exercise Price | $20.22 |
Granted, Weighted Average Exercise Price | ' |
Exercised, Weighted Average Exercise Price | $19.31 |
Forfeited, Weighted Average Exercise Price | ' |
Expired, Weighted Average Exercise Price | $21.15 |
Outstanding and Exercisable at end of period, Weighted Average Exercise Price | $19.83 |
Outstanding and Exercisable at the end of period, Weighted Average Remaining Contractual Term | '2 years 7 months 6 days |
Outstanding and Exercisable at the end of period, Aggregate Intrinsic Value | $940 |
ShareBased_Compensation_Summar1
Share-Based Compensation (Summary Of Restricted Stock Award Activity) (Details) (Restricted Stock Awards [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Restricted Stock Awards [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding at beginning of year, Number of Shares | 79,580 |
Granted, Number of Shares | 43,035 |
Vested, Number of Shares | -38,598 |
Forfeited, number of shares | -18,977 |
Outstanding at end of period, Number of Shares | 65,040 |
Outstanding at beginning of year, Weighted Average Market Price at Grant Date | $16.89 |
Granted, Weighted Average Market Price at Grant Date | $16.94 |
Vested, Weighted Average Market Price at Grant Date | $17.04 |
Forfeited, Weighted Average Market Price at Grant Date | $16.60 |
Outstanding at end of period, Weighted Average Market Price at Grant Date | $16.92 |
ShareBased_Compensation_ShareB
Share-Based Compensation (Share-Based Compensation Expense Included In Consolidated Statements Of Income) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Total share-based compensation expense | $407 | $526 | $1,105 |
Salaries and Employee Benefits [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Total share-based compensation expense | 236 | 394 | 972 |
Other Noninterest Expense [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Total share-based compensation expense | $171 | $132 | $133 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | Federal [Member] | ' |
Income Tax Contingency [Line Items] | ' |
Federal income tax years currently open for audtis | '2010 |
Minimum [Member] | New York State [Member] | ' |
Income Tax Contingency [Line Items] | ' |
Federal income tax years currently open for audtis | '2010 |
Maximum [Member] | Federal [Member] | ' |
Income Tax Contingency [Line Items] | ' |
Federal income tax years currently open for audtis | '2013 |
Maximum [Member] | New York State [Member] | ' |
Income Tax Contingency [Line Items] | ' |
Federal income tax years currently open for audtis | '2013 |
Income_Taxes_Income_Tax_Expens
Income Taxes (Income Tax Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Federal | $8,917 | $4,021 | $3,747 |
State | 1,913 | 955 | 1,158 |
Total current tax expense | 10,830 | 4,976 | 4,905 |
Federal | 1,251 | 5,262 | 5,584 |
State | 296 | 1,081 | 926 |
Total deferred tax expense | 1,547 | 6,343 | 6,510 |
Total income tax expense | $12,377 | $11,319 | $11,415 |
Income_Taxes_Income_Tax_Expens1
Income Taxes (Income Tax Expense Differed From Statutory Federal Income Tax Rate) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Taxes [Abstract] | ' | ' | ' |
Statutory federal tax rate | 35.00% | 35.00% | 35.00% |
Tax exempt interest income | -4.80% | -4.60% | -4.30% |
Non-taxable earnings on company owned life insurance | -1.60% | -1.80% | -1.50% |
State taxes, net of federal tax benefit | 3.80% | 3.80% | 4.00% |
Nondeductible expenses | 0.20% | 0.30% | 0.40% |
Other, net | 0.10% | -0.10% | -0.20% |
Effective tax rate | 32.70% | 32.60% | 33.40% |
Income_Taxes_Income_Tax_Expens2
Income Taxes (Income Tax Expense Allocation) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Income tax expense | $12,377 | $11,319 | $11,415 |
Shareholder's equity | ($8,817) | $1,514 | $3,718 |
Income_Taxes_Net_Deferred_Tax_
Income Taxes (Net Deferred Tax Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Taxes [Abstract] | ' | ' |
Allowance for loan losses | $10,591 | $9,791 |
Net unrealized loss on securities available for sale | 3,501 | ' |
Other than temporary impairment of investment securities | 2,728 | 5,283 |
Deferred compensation | 873 | 868 |
Share-based compensation | 753 | 1,111 |
SERP agreements | 709 | 734 |
Interest on nonaccrual loans | 662 | 732 |
Other | 814 | 1,060 |
Gross deferred tax assets | 20,631 | 19,579 |
Prepaid pension costs | 6,185 | 1,648 |
Depreciation and amortization | 1,606 | 1,827 |
Loan servicing assets | 620 | 681 |
Net unrealized gain on securities available for sale | ' | 10,536 |
Other | 63 | ' |
Gross deferred tax liabilities | 8,474 | 14,692 |
Net deferred tax asset | $12,157 | $4,887 |
Earnings_Per_Common_Share_Reco
Earnings Per Common Share (Reconciliation Of Earnings And Shares Used In Calculating Basic And Diluted EPS) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Common Share [Abstract] | ' | ' | ' |
Net income available to common shareholders | $24,064 | $21,975 | $19,617 |
Less: Earnings allocated to participating securities | ' | 2 | 38 |
Net income available to common shareholders for EPS | $24,064 | $21,973 | $19,579 |
Total shares issued | 14,162 | 14,162 | 13,599 |
Unvested restricted stock awards | -69 | -107 | -166 |
Treasury shares | -354 | -359 | -366 |
Total basic weighted average common shares outstanding | 13,739 | 13,696 | 13,067 |
Exercise of stock options | 13 | 4 | 3 |
Vesting of restricted stock awards | 32 | 51 | 65 |
Exercise of warrant | ' | ' | 22 |
Total diluted weighted average common shares outstanding | 13,784 | 13,751 | 13,157 |
Basic earnings per common share | $1.75 | $1.60 | $1.50 |
Diluted earnings per common share | $1.75 | $1.60 | $1.49 |
Earnings_Per_Common_Share_Shar
Earnings Per Common Share (Shares Excluded from Computation of Diluted EPS) (Details) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive shares excluded from computation of diluted EPS | 124 | 304 | 339 |
Stock Options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive shares excluded from computation of diluted EPS | 122 | 303 | 339 |
Restricted Stock Awards [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive shares excluded from computation of diluted EPS | 2 | 1 | ' |
Employee_Benefit_Plans_Narrati
Employee Benefit Plans (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Accumulated benefit obligation | $44,000,000 | $48,000,000 | ' |
Investment strategy, percentage in long-term growth | 97.00% | ' | ' |
Investment strategy, percentage in near-term benefit payments | 3.00% | ' | ' |
Maximum percentage of securities purchasing allowed of the portfolio at any time | 5.00% | ' | ' |
Maximum market value purchase percentage allowed of any one issuer | 8.00% | ' | ' |
Expense included in salaries and employee benefits | 1,100,000 | 1,000,000 | 1,000,000 |
Postretirement Benefit Plan, Accrued liabilities | 93,000 | 118,000 | ' |
Estimated net loss for the plan that will be amortized from accumulated other comprehensive income | 159,000 | ' | ' |
Estimated prior service cost for the plan that will be amortized from accumulated other comprehensive income | 20,000 | ' | ' |
Maximum percent of participant's contribution match | 4.50% | ' | ' |
Prior to February 2012 [Member] | Securities Less Than A-Quality [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Maximum percentage of securities purchasing allowed of the portfolio at any time | 10.00% | ' | ' |
Effective February 2012 [Member] | Securities Less Than A-Quality [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Maximum percentage of securities purchasing allowed of the portfolio at any time | 13.00% | ' | ' |
Effective February 2012 [Member] | Commercial MBS and ABS [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Maximum percentage of securities purchasing allowed of the portfolio at any time | 10.00% | ' | ' |
Street Bank & Trust Co. Short Term Investment Fund [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Percentage of Plan Assets | 5.00% | 12.00% | ' |
Investment Firm One [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Portfolio management, controlled percentage | 58.00% | ' | ' |
Investment Firm Two [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Portfolio management, controlled percentage | 41.00% | ' | ' |
Defined Benefit Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Portfolio management, controlled percentage | 1.00% | ' | ' |
First 3% Of Participant's Contribution [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Percentage employer matches of the employee's percentage contribution matched | 100.00% | ' | ' |
Percentage for which the employer contributes a matching contribution | 3.00% | ' | ' |
Next 3% Of Participant's Contribution [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Percentage employer matches of the employee's percentage contribution matched | 50.00% | ' | ' |
Percentage for which the employer contributes a matching contribution | 3.00% | ' | ' |
SERP [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Unfunded pension liability | 2,100,000 | 2,200,000 | ' |
Pension expense | $95,000 | $1,300,000 | $67,000 |
Employee_Benefit_Plans_Reconci
Employee Benefit Plans (Reconciliation Of The Plan's Benefit Obligations, Fair Value Of Assets And The Funded Status) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Benefit Plans [Abstract] | ' | ' | ' |
Projected benefit obligation at beginning of period | $53,625 | $48,303 | ' |
Service cost | 2,063 | 2,037 | 1,756 |
Interest cost | 2,017 | 2,017 | 2,027 |
Actuarial (gain) loss | -6,393 | 3,291 | ' |
Benefits paid and plan expenses | -2,321 | -2,023 | ' |
Projected benefit obligation at end of period | 48,991 | 53,625 | 48,303 |
Fair value of plan assets at beginning of period | 57,785 | 46,943 | ' |
Actual return on plan assets | 9,139 | 4,865 | ' |
Employer contributions | ' | 8,000 | ' |
Fair value of plan assets at end of period | 64,603 | 57,785 | 46,943 |
Funded status at end of period | $15,612 | $4,160 | ' |
Employee_Benefit_Plans_Estimat
Employee Benefit Plans (Estimated Benefit Payments Under The Pension Plan) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Employee Benefit Plans [Abstract] | ' |
2014 | $1,709 |
2015 | 1,868 |
2016 | 2,094 |
2017 | 2,277 |
2018 | 2,339 |
2019-2023 | $14,044 |
Employee_Benefit_Plans_Compone
Employee Benefit Plans (Components Of Net Periodic Benefit Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Benefit Plans [Abstract] | ' | ' | ' |
Service cost | $2,063 | $2,037 | $1,756 |
Interest cost on projected benefit obligation | 2,017 | 2,017 | 2,027 |
Expected return on plan assets | -3,684 | -3,211 | -2,653 |
Amortization of unrecognized loss | 1,344 | 1,370 | 608 |
Amortization of unrecognized prior service cost | 20 | 20 | 19 |
Net periodic pension cost | $1,760 | $2,233 | $1,757 |
Employee_Benefit_Plans_Actuari
Employee Benefit Plans (Actuarial Assumptions Used, Net Periodic Pension Cost) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Employee Benefit Plans [Abstract] | ' | ' | ' |
Weighted average discount rate | 3.84% | 4.27% | 5.38% |
Rate of compensation increase | 3.00% | 3.00% | 3.00% |
Expected long-term rate of return | 6.50% | 7.00% | 7.00% |
Employee_Benefit_Plans_Actuari1
Employee Benefit Plans (Actuarial Assumptions Used, Projected Benefit Obligation) (Details) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Benefit Plans [Abstract] | ' | ' | ' |
Weighted average discount rate | 4.80% | 3.84% | 4.27% |
Rate of compensation increase | 3.00% | 3.00% | 3.00% |
Employee_Benefit_Plans_Target_
Employee Benefit Plans (Target Allocation, Percentage Of Plan Assets And Weighted Average Expected Rate Of Return) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2013 | |
Cash And Cash Equivalents [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Target Allocation, Minimum | 0.00% | ' | ' |
Target Allocation, Maximum | 20.00% | ' | ' |
Percentage of Plan Assets | ' | 12.80% | 5.50% |
Weighted Average Expected Long-term Rate of Return | ' | 0.17% | ' |
Equity Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Target Allocation, Minimum | 40.00% | ' | ' |
Target Allocation, Maximum | 60.00% | ' | ' |
Percentage of Plan Assets | ' | 45.50% | 50.60% |
Weighted Average Expected Long-term Rate of Return | ' | 4.26% | ' |
Fixed Income Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Target Allocation, Minimum | 40.00% | ' | ' |
Target Allocation, Maximum | 60.00% | ' | ' |
Percentage of Plan Assets | ' | 41.70% | 43.90% |
Weighted Average Expected Long-term Rate of Return | ' | 2.06% | ' |
Other Financial Instruments [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Target Allocation, Minimum | 0.00% | ' | ' |
Target Allocation, Maximum | 5.00% | ' | ' |
Percentage of Plan Assets | ' | ' | ' |
Weighted Average Expected Long-term Rate of Return | ' | ' | ' |
Employee_Benefit_Plans_The_Maj
Employee Benefit Plans (The Major Categories Of Plan Assets Measured At Fair Value On a Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | $3,527 | $7,457 |
Equity securities | 32,722 | 26,242 |
Fixed income securities | 28,354 | 24,086 |
Total Plan investments | 64,603 | 57,785 |
Foreign Currencies [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | 92 | 60 |
Government Issues [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | 937 | 314 |
Fixed income securities | 8,984 | 8,231 |
Municipals [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 212 | 63 |
Short-term Investments Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | 2,498 | 7,083 |
Common Stock [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | 32,072 | 25,447 |
Depository Receipts [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | 405 | 569 |
Preferred Equity [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | 151 | 113 |
Real Estate Investment Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | 94 | 113 |
Auto Loans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 232 | 313 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 7,079 | 6,262 |
Corporate Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 7,609 | 5,456 |
FHLMC [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 883 | 717 |
FNMA [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 3,044 | 2,867 |
GNMA I [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 215 | 31 |
GNMA II [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 96 | 133 |
Other Assets Backed [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | ' | 13 |
Level 1 Inputs [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | 92 | 60 |
Equity securities | 32,626 | 26,242 |
Total Plan investments | 32,718 | 26,302 |
Level 1 Inputs [Member] | Foreign Currencies [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | 92 | 60 |
Level 1 Inputs [Member] | Common Stock [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | 32,072 | 25,447 |
Level 1 Inputs [Member] | Depository Receipts [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | 309 | 569 |
Level 1 Inputs [Member] | Preferred Equity [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | 151 | 113 |
Level 1 Inputs [Member] | Real Estate Investment Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | 94 | 113 |
Level 2 Inputs [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | 3,435 | 7,397 |
Equity securities | 96 | ' |
Fixed income securities | 28,354 | 24,086 |
Total Plan investments | 31,885 | 31,483 |
Level 2 Inputs [Member] | Government Issues [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | 937 | 314 |
Fixed income securities | 8,984 | 8,231 |
Level 2 Inputs [Member] | Municipals [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 212 | 63 |
Level 2 Inputs [Member] | Short-term Investments Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | 2,498 | 7,083 |
Level 2 Inputs [Member] | Depository Receipts [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | 96 | ' |
Level 2 Inputs [Member] | Auto Loans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 232 | 313 |
Level 2 Inputs [Member] | Collateralized Mortgage Obligations [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 7,079 | 6,262 |
Level 2 Inputs [Member] | Corporate Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 7,609 | 5,456 |
Level 2 Inputs [Member] | FHLMC [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 883 | 717 |
Level 2 Inputs [Member] | FNMA [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 3,044 | 2,867 |
Level 2 Inputs [Member] | GNMA I [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 215 | 31 |
Level 2 Inputs [Member] | GNMA II [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | 96 | 133 |
Level 2 Inputs [Member] | Other Assets Backed [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | ' | 13 |
Level 3 Inputs [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | ' | ' |
Equity securities | ' | ' |
Fixed income securities | ' | ' |
Total Plan investments | ' | ' |
Level 3 Inputs [Member] | Foreign Currencies [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | ' | ' |
Level 3 Inputs [Member] | Government Issues [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | ' | ' |
Fixed income securities | ' | ' |
Level 3 Inputs [Member] | Municipals [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | ' | ' |
Level 3 Inputs [Member] | Short-term Investments Funds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Cash equivalents | ' | ' |
Level 3 Inputs [Member] | Common Stock [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | ' | ' |
Level 3 Inputs [Member] | Depository Receipts [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | ' | ' |
Level 3 Inputs [Member] | Preferred Equity [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | ' | ' |
Level 3 Inputs [Member] | Real Estate Investment Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Equity securities | ' | ' |
Level 3 Inputs [Member] | Auto Loans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | ' | ' |
Level 3 Inputs [Member] | Collateralized Mortgage Obligations [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | ' | ' |
Level 3 Inputs [Member] | Corporate Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | ' | ' |
Level 3 Inputs [Member] | FHLMC [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | ' | ' |
Level 3 Inputs [Member] | FNMA [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | ' | ' |
Level 3 Inputs [Member] | GNMA I [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | ' | ' |
Level 3 Inputs [Member] | GNMA II [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | ' | ' |
Level 3 Inputs [Member] | Other Assets Backed [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fixed income securities | ' | ' |
Employee_Benefit_Plans_Compone1
Employee Benefit Plans (Components Of Other Comprehensive Loss Related To Defined Benefit Plan And Postretirement Benefit Plan) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Total recognized in accumulated other comprehensive loss | ($8,032) | ($21,208) |
Deferred tax benefit | 3,182 | 8,401 |
Amounts included in accumulated other comprehensive loss | -4,850 | -12,807 |
Defined Benefit Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | -8,237 | -21,428 |
Prior service credit (cost) | -72 | -93 |
Total recognized in accumulated other comprehensive loss | -8,309 | -21,521 |
Postretirement Benefit Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net actuarial loss | -163 | -195 |
Prior service credit (cost) | 440 | 508 |
Total recognized in accumulated other comprehensive loss | $277 | $313 |
Employee_Benefit_Plans_Changes
Employee Benefit Plans (Changes In Plan Assets And Benefit Obligations Recognized In Other Comprehensive Loss) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Amortization of net loss | ($1,344) | ($1,370) | ($608) |
Amortization of prior service cost (credit) | 47 | 47 | 49 |
Total recognized in other comprehensive loss | 13,176 | -300 | -9,979 |
Defined Benefit Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Net actuarial gain (loss) | 11,847 | -1,638 | ' |
Amortization of net loss | 1,344 | 1,370 | ' |
Amortization of prior service cost (credit) | 21 | 20 | ' |
Total recognized in other comprehensive loss | 13,212 | -248 | ' |
Postretirement Benefit Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Net actuarial gain (loss) | 32 | 15 | ' |
Amortization of prior service cost (credit) | -68 | -67 | ' |
Total recognized in other comprehensive loss | ($36) | ($52) | ' |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets Measured At Fair Value On A Recurring And Non-Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Collateral Dependent Impaired Loans [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | $9,227 | [1] | ' |
Loan Servicing Rights [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 1,565 | ' | |
Other Real Estate Owned [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 333 | [1] | ' |
Measured On A Recurring Basis [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 609,400 | 823,796 | |
Measured On A Recurring Basis [Member] | U.S. Government Agencies And Government Sponsored Enterprises [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 134,452 | 131,695 | |
Measured On A Recurring Basis [Member] | State And Political Subdivisions [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | 195,210 | |
Measured On A Recurring Basis [Member] | Mortgage-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 474,549 | 495,868 | |
Measured On A Recurring Basis [Member] | Asset-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 399 | 1,023 | |
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | U.S. Government Agencies And Government Sponsored Enterprises [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | State And Political Subdivisions [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | Mortgage-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | Asset-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 609,400 | 823,796 | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | U.S. Government Agencies And Government Sponsored Enterprises [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 134,452 | 131,695 | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | State And Political Subdivisions [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | 195,210 | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | Mortgage-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 474,549 | 495,868 | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | Asset-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 399 | 1,023 | |
Measured On A Recurring Basis [Member] | Level 3 Inputs [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Recurring Basis [Member] | Level 3 Inputs [Member] | U.S. Government Agencies And Government Sponsored Enterprises [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Recurring Basis [Member] | Level 3 Inputs [Member] | State And Political Subdivisions [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Recurring Basis [Member] | Level 3 Inputs [Member] | Mortgage-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Recurring Basis [Member] | Level 3 Inputs [Member] | Asset-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 14,506 | 5,785 | |
Measured On A Nonrecurring Basis [Member] | Loans Held For Sale [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 3,381 | 1,518 | |
Measured On A Nonrecurring Basis [Member] | Collateral Dependent Impaired Loans [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 9,227 | 2,364 | |
Measured On A Nonrecurring Basis [Member] | Loan Servicing Rights [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 1,565 | 1,719 | |
Measured On A Nonrecurring Basis [Member] | Other Real Estate Owned [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 333 | 184 | |
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | Loans Held For Sale [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | Collateral Dependent Impaired Loans [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | Loan Servicing Rights [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | Other Real Estate Owned [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 2 Inputs [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 3,381 | 1,518 | |
Measured On A Nonrecurring Basis [Member] | Level 2 Inputs [Member] | Loans Held For Sale [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 3,381 | 1,518 | |
Measured On A Nonrecurring Basis [Member] | Level 2 Inputs [Member] | Collateral Dependent Impaired Loans [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 2 Inputs [Member] | Loan Servicing Rights [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 2 Inputs [Member] | Other Real Estate Owned [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 11,125 | 4,267 | |
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | Loans Held For Sale [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | Collateral Dependent Impaired Loans [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 9,227 | 2,364 | |
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | Loan Servicing Rights [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 1,565 | 1,719 | |
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | Other Real Estate Owned [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | $333 | $184 | |
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. |
Fair_Value_Measurements_Additi
Fair Value Measurements (Additional Quantitative Information About Assets Measured At Fair Value On A Recurring And Non-Recurring Basis) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | |
Collateral Dependent Impaired Loans [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Assets at fair value | $9,227 | [1] |
Discount rate | 4.60% | [2] |
Risk premium rate | 12.00% | [2] |
Loan Servicing Rights [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Assets at fair value | 1,565 | |
Discount rate | 5.20% | [2] |
Constant prepayment rate | 12.40% | [2] |
Other Real Estate Owned [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Assets at fair value | $333 | [1] |
Minimum [Member] | Collateral Dependent Impaired Loans [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Appraisal adjustments | 18.00% | [3] |
Minimum [Member] | Other Real Estate Owned [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Appraisal adjustments | 28.00% | [3] |
Maximum [Member] | Collateral Dependent Impaired Loans [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Appraisal adjustments | 100.00% | [3] |
Maximum [Member] | Other Real Estate Owned [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Appraisal adjustments | 44.00% | [3] |
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. | |
[2] | Weighted averages. | |
[3] | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. |
Fair_Value_Measurements_Change
Fair Value Measurements (Changes In Level 3 Fair Value Measurements) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2012 | Dec. 31, 2012 | |
Fair Value Measurements [Abstract] | ' | ' |
Securities available for sale, beginning of period | $1,636,000 | $1,636,000 |
Sales | ' | -360,000 |
Total gains (losses) realized/unrealized: Included in earnings | ' | 331,000 |
Total gains (losses) realized/unrealized: Included in other comprehensive income | ' | -102,000 |
Transfers from Level 3 to Level 2 | ' | -1,505,000 |
Securities available for sale, end of period | ' | ' |
Transferred assets out of Level 3 | $1,500,000 | ' |
Fair_Value_Measurements_Carryi
Fair Value Measurements (Carrying Amount, Estimated Fair Value, And Placement In Fair Value Hierarchy Of Financial Instruments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities available for sale | $609,400 | $823,796 | ||
Carrying Amount [Member] | Level 1 Inputs [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and cash equivalents | 59,692 | 60,436 | ||
Accrued interest receivable | 8,150 | 7,843 | ||
Non-maturity deposits | 1,724,133 | 1,606,856 | ||
Short-term borrowings | 337,042 | 179,806 | ||
Accrued interest payable | 3,407 | 3,819 | ||
Carrying Amount [Member] | Level 2 Inputs [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities available for sale | 609,400 | 823,796 | ||
Securities held to maturity | 249,785 | 17,905 | ||
Loans held for sale | 3,381 | 1,518 | ||
Loans | 1,797,656 | 1,678,648 | ||
FHLB and FRB stock | 19,663 | 12,321 | ||
Time deposits | 595,923 | 654,938 | ||
Carrying Amount [Member] | Level 3 Inputs [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Loans | 9,227 | [1] | 2,364 | [1] |
Estimated Fair Value [Member] | Level 1 Inputs [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and cash equivalents | 59,692 | 60,436 | ||
Accrued interest receivable | 8,150 | 7,843 | ||
Non-maturity deposits | 1,724,133 | 1,606,856 | ||
Short-term borrowings | 337,042 | 179,806 | ||
Accrued interest payable | 3,407 | 3,819 | ||
Estimated Fair Value [Member] | Level 2 Inputs [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities available for sale | 609,400 | 823,796 | ||
Securities held to maturity | 250,657 | 18,478 | ||
Loans held for sale | 3,381 | 1,547 | ||
Loans | 1,802,407 | 1,701,419 | ||
FHLB and FRB stock | 19,663 | 12,321 | ||
Time deposits | 596,928 | 658,342 | ||
Estimated Fair Value [Member] | Level 3 Inputs [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Loans | $9,227 | [1] | $2,364 | [1] |
[1] | Comprised of collateral dependent impaired loans. |
Parent_Company_Financial_Infor2
Parent Company Financial Information (Condensed Statements Of Condition) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Other assets | $64,313 | $44,805 |
Total assets | 2,928,636 | 2,763,865 |
Other liabilities | 16,699 | 68,368 |
Shareholders' equity | 254,839 | 253,897 |
Total liabilities and shareholders' equity | 2,928,636 | 2,763,865 |
Parent Company [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Cash and due from subsidiary | 9,510 | 6,602 |
Investment in and receivables due from subsidiary | 245,071 | 246,535 |
Other assets | 3,463 | 3,563 |
Total assets | 258,044 | 256,700 |
Other liabilities | 3,205 | 2,803 |
Shareholders' equity | 254,839 | 253,897 |
Total liabilities and shareholders' equity | $258,044 | $256,700 |
Parent_Company_Financial_Infor3
Parent Company Financial Information (Condensed Statements Of Income) (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Loss on extinguishment of debt | $1,100 | ' | ' | $1,083 |
Income before income tax benefit and equity in undistributed earnings of subsidiary | ' | 37,907 | 34,768 | 34,214 |
Income tax benefit | ' | -12,377 | -11,319 | -11,415 |
Net income | ' | 25,530 | 23,449 | 22,799 |
Parent Company [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Dividends from subsidiary and associated companies | ' | 15,000 | 4,000 | 9,233 |
Management and service fees from subsidiary | ' | 368 | 517 | 1,161 |
Other income | ' | 71 | 24 | 78 |
Total income | ' | 15,439 | 4,541 | 10,472 |
Operating expenses | ' | 2,906 | 2,732 | 3,787 |
Loss on extinguishment of debt | ' | ' | ' | 1,083 |
Total expenses | ' | 2,906 | 2,732 | 4,870 |
Income before income tax benefit and equity in undistributed earnings of subsidiary | ' | 12,533 | 1,809 | 5,602 |
Income tax benefit | ' | 1,020 | 991 | 1,539 |
Income before equity in undistributed earnings of subsidiary | ' | 13,553 | 2,800 | 7,141 |
Equity in undistributed earnings of subsidiary | ' | 11,977 | 20,649 | 15,658 |
Net income | ' | $25,530 | $23,449 | $22,799 |
Parent_Company_Financial_Infor4
Parent Company Financial Information (Condensed Statements Of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net income | $25,530 | $23,449 | $22,799 |
Depreciation and amortization | 4,181 | 3,828 | 3,466 |
Share-based compensation | 407 | 526 | 1,105 |
Decrease in other assets | -6,640 | -4,249 | -7,756 |
(Decrease) increase in other liabilities | 6,981 | 7,429 | 5,057 |
Net cash provided by operating activities | 37,198 | 38,700 | 32,018 |
Repurchase of warrant issued to U.S. Treasury | ' | ' | -2,080 |
Proceeds from stock options exercised | 448 | 69 | 91 |
Net cash provided by financing activities | 204,250 | 63,225 | 91,361 |
Net (decrease) increase in cash and cash equivalents | -744 | 2,853 | 18,525 |
Cash and cash equivalents, beginning of period | 60,436 | 57,583 | 39,058 |
Cash and cash equivalents, end of period | 59,692 | 60,436 | 57,583 |
Parent Company [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net income | 25,530 | 23,449 | 22,799 |
Equity in (undistributed earnings) excess distributions of subsidiary | -11,977 | -20,649 | -15,658 |
Depreciation and amortization | 47 | 65 | 116 |
Share-based compensation | 407 | 526 | 1,105 |
Decrease in other assets | 166 | 805 | 771 |
(Decrease) increase in other liabilities | -17 | 44 | -534 |
Net cash provided by operating activities | 14,156 | 4,240 | 8,599 |
Redemption of junior subordinated debentures | ' | ' | -16,702 |
Proceeds from issuance of preferred and common shares, net of issuance costs | ' | ' | 43,127 |
Purchase of preferred and common shares | -360 | -559 | -37,764 |
Repurchase of warrant issued to U.S. Treasury | ' | ' | -2,080 |
Proceeds from stock options exercised | 448 | 69 | 91 |
Dividends paid | -11,218 | -8,866 | -7,564 |
Other | -118 | 97 | 20 |
Net cash provided by financing activities | -11,248 | -9,259 | -20,872 |
Net (decrease) increase in cash and cash equivalents | 2,908 | -5,019 | -12,273 |
Cash and cash equivalents, beginning of period | 6,602 | 11,621 | 23,894 |
Cash and cash equivalents, end of period | $9,510 | $6,602 | $11,621 |