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Loans and the Allowance for Loan Losses (Tables) | 3 Months Ended
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Mar. 31, 2014
Loans and the Allowance for Loan Losses [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | The following table sets forth the composition of the Corporation’s loan portfolio, including net deferred fees and costs, at March 31, 2014 and December 31, 2013:
|  | March 31, |  | December 31, |
|  | 2014 |  | 2013 |
|  | (in thousands) |
Commercial and industrial |  | $ | 249,365 |  | $ | 229,688 |
Commercial real estate |  |  | 548,133 |  |  | 536,539 |
Construction |  |  | 39,308 |  |  | 42,722 |
Residential mortgage |  |  | 149,653 |  |  | 150,571 |
Installment |  |  | 747 |  |  | 1,084 |
Subtotal |  |  | 987,206 |  |  | 960,604 |
Net deferred loan costs |  |  | 323 |  |  | 339 |
Total loans |  | $ | 987,529 |  | $ | 960,943 |
Loans Receivable on Non-Accrual Status | The following table presents information about loan receivables on non-accrual status at March 31, 2014 and December 31, 2013:
Loans Receivable on Non-Accrual Status |  |  |  |  |  |  |
|  | March 31, 2014 |  | December 31, 2013 |
|  | (in thousands) |
Commercial and industrial |  | $ | 404 |  | $ | 753 |
Commercial real estate |  |  | 1,413 |  |  | 744 |
Residential mortgage |  |  | 1,606 |  |  | 1,640 |
Total loans receivable on non-accrual status |  | $ | 3,423 |  | $ | 3,137 |
Credit Quality Indicators | The following table presents information, excluding net deferred costs, about the Corporation’s loan credit quality at March 31, 2014 and December 31, 2013:
Credit Quality Indicators |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | March 31, 2014 |
|  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total |
|  | (in thousands) |
Commercial and industrial |  | $ | 246,130 |  | $ | 1,796 |  | $ | 1,112 |  | $ | 327 |  | $ | 249,365 |
Commercial real estate |  |  | 520,626 |  |  | 17,419 |  |  | 10,088 |  |  | — |  |  | 548,133 |
Construction |  |  | 38,078 |  |  | — |  |  | 1,230 |  |  | — |  |  | 39,308 |
Residential mortgage |  |  | 146,265 |  |  | 970 |  |  | 2,418 |  |  | — |  |  | 149,653 |
Installment |  |  | 632 |  |  | — |  |  | 115 |  |  | — |  |  | 747 |
Total loans |  | $ | 951,731 |  | $ | 20,185 |  | $ | 14,963 |  | $ | 327 |  | $ | 987,206 |
|  | December 31, 2013 |
|  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total |
|  | (in thousands) |
Commercial and industrial |  | $ | 226,013 |  | $ | 1,719 |  | $ | 1,284 |  | $ | 672 |  | $ | 229,688 |
Commercial real estate |  |  | 509,679 |  |  | 14,544 |  |  | 12,316 |  |  | — |  |  | 536,539 |
Construction |  |  | 41,492 |  |  | — |  |  | 1,230 |  |  | — |  |  | 42,722 |
Residential mortgage |  |  | 147,379 |  |  | 978 |  |  | 2,214 |  |  | — |  |  | 150,571 |
Installment |  |  | 964 |  |  | — |  |  | 120 |  |  | — |  |  | 1,084 |
Total loans |  | $ | 925,527 |  | $ | 17,241 |  | $ | 17,164 |  | $ | 672 |  | $ | 960,604 |
Analysis of Impaired Loans | The following table provides an analysis of the impaired loans at March 31, 2014 and December 31, 2013:
|  | March 31, 2014 |
|  | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |
|  | (in thousands) |
No Related Allowance Recorded |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 642 |  | $ | 975 |  | $ | — |
Commercial real estate |  |  | 8,244 |  |  | 8,545 |  |  | — |
Residential mortgage |  |  | 2,112 |  |  | 2,254 |  |  | — |
Installment |  |  | 115 |  |  | 115 |  |  | — |
Total |  | $ | 11,113 |  | $ | 11,889 |  | $ | — |
With An Allowance Recorded |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | 4,333 |  | $ | 4,333 |  | $ | 227 |
Total |  | $ | 4,333 |  | $ | 4,333 |  | $ | 227 |
Total |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 642 |  | $ | 975 |  | $ | — |
Commercial real estate |  |  | 12,577 |  |  | 12,878 |  |  | 227 |
Residential mortgage |  |  | 2,112 |  |  | 2,254 |  |  | — |
Installment |  |  | 115 |  |  | 115 |  |  | — |
Total (including related allowance) |  | $ | 15,446 |  | $ | 16,222 |  | $ | 227 |
|  | December 31, 2013 |
|  | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |
|  | (in thousands) |
No Related Allowance Recorded |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 449 |  | $ | 449 |  | $ | — |
Commercial real estate |  |  | 10,482 |  |  | 10,783 |  |  | — |
Residential mortgage |  |  | 1,858 |  |  | 2,000 |  |  | — |
Installment |  |  | 120 |  |  | 120 |  |  | — |
Total |  | $ | 12,909 |  | $ | 13,352 |  | $ | — |
With An Allowance Recorded |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 672 |  | $ | 672 |  | $ | 300 |
Commercial real estate |  |  | 4,344 |  |  | 4,344 |  |  | 115 |
Total |  | $ | 5,016 |  | $ | 5,016 |  | $ | 415 |
Total |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 1,121 |  | $ | 1,121 |  | $ | 300 |
Commercial real estate |  |  | 14,826 |  |  | 15,127 |  |  | 115 |
Residential mortgage |  |  | 1,858 |  |  | 2,000 |  |  | — |
Installment |  |  | 120 |  |  | 120 |  |  | — |
Total (including related allowance) |  | $ | 17,925 |  | $ | 18,368 |  | $ | 415 |
The following table provides an analysis related to the average recorded investment and interest income recognized on impaired loans for the three months ended March 31, 2014 and 2013.
|  | Three Months Ended March 31, |
|  | 2014 |  | 2013 |
|  | Average Recorded Investment |  | Interest Income Recognized |  | Average Recorded Investment |  | Interest Income Recognized |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans with no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 659 |  | $ | 14 |  | $ | 726 |  | $ | 10 |
Commercial real estate |  |  | 8,278 |  |  | 78 |  |  | 9,086 |  |  | 119 |
Residential mortgage |  |  | 2,270 |  |  | 19 |  |  | 420 |  |  | 5 |
Installment |  |  | 117 |  |  | 1 |  |  | — |  |  | — |
Total |  | $ | 11,324 |  | $ | 112 |  | $ | 10,232 |  | $ | 134 |
Impaired loans with an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | 4,337 |  | $ | 53 |  | $ | 4,180 |  | $ | 34 |
Residential mortgage |  |  | — |  |  | — |  |  | 1,249 |  |  | 10 |
Total |  | $ | 4,337 |  | $ | 53 |  | $ | 5,429 |  | $ | 44 |
Total impaired loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 659 |  | $ | 14 |  | $ | 726 |  | $ | 10 |
Commercial real estate |  |  | 12,615 |  |  | 131 |  |  | 13,266 |  |  | 153 |
Residential mortgage |  |  | 2,270 |  |  | 19 |  |  | 1,669 |  |  | 15 |
Installment |  |  | 117 |  |  | 1 |  |  | — |  |  | — |
Total |  | $ | 15,661 |  | $ | 165 |  | $ | 15,661 |  | $ | 178 |
Aging Analysis | The following table provides an analysis of the aging of loans, excluding net deferred costs that are past due at March 31, 2014 and December 31, 2013:
Aging Analysis |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | March 31, 2014 |
|  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 90 Days |  | Total Past Due |  | Current |  | Total Loans Receivable |  | Loans Receivable > 90 Days And Accruing |
|  | (in thousands) |
Commercial and Industrial |  | $ | 400 |  | $ | 94 |  | $ | 404 |  | $ | 898 |  | $ | 248,467 |  | $ | 249,365 |  | $ | — |
Commercial Real Estate |  |  | 2,348 |  |  | 5,915 |  |  | 1,413 |  |  | 9,676 |  |  | 538,457 |  |  | 548,133 |  |  | — |
Construction |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 39,308 |  |  | 39,308 |  |  | — |
Residential Mortgage |  |  | 1,248 |  |  | 43 |  |  | 1,843 |  |  | 3,134 |  |  | 146,519 |  |  | 149,653 |  |  | 237 |
Installment |  |  | 7 |  |  | — |  |  | — |  |  | 7 |  |  | 740 |  |  | 747 |  |  | — |
Total |  | $ | 4,003 |  | $ | 6,052 |  | $ | 3,660 |  | $ | 13,715 |  | $ | 973,491 |  | $ | 987,206 |  | $ | 237 |
|  | December 31, 2013 |
|  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 90 Days |  | Total Past Due |  | Current |  | Total Loans Receivable |  | Loans Receivable > 90 Days And Accruing |
|  | (in thousands) |
Commercial and Industrial |  | $ | 18 |  | $ | — |  | $ | 753 |  | $ | 771 |  | $ | 228,917 |  | $ | 229,688 |  | $ | — |
Commercial Real Estate |  |  | 221 |  |  | — |  |  | 744 |  |  | 965 |  |  | 535,574 |  |  | 536,539 |  |  | — |
Construction |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 42,722 |  |  | 42,722 |  |  | — |
Residential Mortgage |  |  | 990 |  |  | 258 |  |  | 1,640 |  |  | 2,888 |  |  | 147,683 |  |  | 150,571 |  |  | — |
Installment |  |  | 5 |  |  | — |  |  | — |  |  | 5 |  |  | 1,079 |  |  | 1,084 |  |  | — |
Total |  | $ | 1,234 |  | $ | 258 |  | $ | 3,137 |  | $ | 4,629 |  | $ | 955,975 |  | $ | 960,604 |  | $ | —
Allowance for Loan and Lease Losses | The following table details the amount of loans receivable that are evaluated individually, and collectively, for impairment (excluding net deferred costs), and the related portion of the allowance for loan loss that is allocated to each loan portfolio segment:
Allowance for loan and lease losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | March 31, 2014 |
|  | C & I |  | Comm R/E |  | Construction |  | Res Mtge |  | Installment |  | Unallocated |  | Total |
|  | (in thousands) |
Allowance for loan and lease losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | — |  | $ | 227 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 227 |
Collectively evaluated for impairment |  |  | 2,225 |  |  | 5,157 |  |  | 434 |  |  | 1,004 |  |  | 79 |  |  | 1,507 |  |  | 10,406 |
Total |  | $ | 2,225 |  | $ | 5,384 |  | $ | 434 |  | $ | 1,004 |  | $ | 79 |  | $ | 1,507 |  | $ | 10,633 |
Loans Receivable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 642 |  | $ | 12,577 |  | $ | — |  | $ | 2,112 |  | $ | 115 |  | $ | — |  | $ | 15,446 |
Collectively evaluated for impairment |  |  | 246,657 |  |  | 520,729 |  |  | 38,078 |  |  | 134,175 |  |  | 511 |  |  | — |  |  | 940,150 |
Loans acquired with discounts related to credit quality |  |  | 2,066 |  |  | 14,827 |  |  | 1,230 |  |  | 13,366 |  |  | 121 |  |  | — |  |  | 31,610 |
Total |  | $ | 249,365 |  | $ | 548,133 |  | $ | 39,308 |  | $ | 149,653 |  | $ | 747 |  | $ | — |  | $ | 987,206 |
Allowance for loan and lease losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | December 31, 2013 |
|  | C & I |  | Comm R/E |  | Construction |  | Res Mtge |  | Installment |  | Unallocated |  | Total |
|  | (in thousands) |
Allowance for loan and lease losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 300 |  | $ | 115 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 415 |
Collectively evaluated for impairment |  |  | 1,398 |  |  | 5,631 |  |  | 362 |  |  | 990 |  |  | 146 |  |  | 1,391 |  |  | 9,918 |
Total |  | $ | 1,698 |  | $ | 5,746 |  | $ | 362 |  | $ | 990 |  | $ | 146 |  | $ | 1,391 |  | $ | 10,333 |
Loans Receivable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 1,121 |  | $ | 14,826 |  | $ | — |  | $ | 1,858 |  | $ | 120 |  | $ | — |  | $ | 17,925 |
Collectively evaluated for impairment |  |  | 226,450 |  |  | 505,361 |  |  | 41,493 |  |  | 135,031 |  |  | 839 |  |  | — |  |  | 909,174 |
Loans acquired with discounts related to credit quality |  |  | 2,117 |  |  | 16,352 |  |  | 1,229 |  |  | 13,682 |  |  | 125 |  |  | — |  |  | 33,505 |
Total |  | $ | 229,688 |  | $ | 536,539 |  | $ | 42,722 |  | $ | 150,571 |  | $ | 1,084 |  | $ | — |  | $ | 960,604 |
The Corporation’s allowance for loan losses is analyzed quarterly. Many factors are considered, including growth in the portfolio, delinquencies, nonaccrual loan levels, and other factors inherent in the extension of credit. There have been no material changes to the allowance for loan loss methodology as disclosed in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2013. A summary of the activity in the allowance for loan losses is as follows:
|  | Three Months Ended March 31, 2014 |
|  | C & I |  | Comm R/E |  | Construction |  | Res Mtge |  | Installment |  | Unallocated |  | Total |
|  | (in thousands) |
Balance at January 1, |  | $ | 1,698 |  | $ | 5,746 |  | $ | 362 |  | $ | 990 |  | $ | 146 |  | $ | 1,391 |  | $ | 10,333 |
Charge offs |  |  | (333) |  |  | — |  |  | — |  |  | — |  |  | (3) |  |  | — |  |  | (336) |
Recoveries |  |  | — |  |  | — |  |  | — |  |  | 10 |  |  | 1 |  |  | — |  |  | 11 |
Provision |  |  | 860 |  |  | (362) |  |  | 72 |  |  | 4 |  |  | (65) |  |  | 116 |  |  | 625 |
Balance at March 31, |  | $ | 2,225 |  | $ | 5,384 |  | $ | 434 |  | $ | 1,004 |  | $ | 79 |  | $ | 1,507 |  | $ | 10,633 |
|  | Three Months Ended March 31, 2013 |
|  | C & I |  | Comm R/E |  | Construction |  | Res Mtge |  | Installment |  | Unallocated |  | Total |
|  | (in thousands) |
Balance at January 1, |  | $ | 2,424 |  | $ | 5,323 |  | $ | 313 |  | $ | 1,532 |  | $ | 113 |  | $ | 532 |  | $ | 10,237 |
Charge offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (6) |  |  | — |  |  | (6) |
Recoveries |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Provision |  |  | (341) |  |  | 30 |  |  | (29) |  |  | (154) |  |  | (5) |  |  | 499 |  |  | — |
Balance at March 31, |  | $ | 2,083 |  | $ | 5,353 |  | $ | 284 |  | $ | 1,378 |  | $ | 103 |  | $ | 1,031 |  | $ | 10,232 |

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- Definition Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=28368275&loc=SL6953423-111524 + Details
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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=28368275&loc=SL6953659-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953803-111525 + Details
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- Definition Tabular disclosure of impaired financing receivables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=28368275&loc=d3e5212-111524 + Details
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- Definition Tabular disclosure of financing receivables that are past due but not impaired, financing receivables that are 90 days past due and still accruing, and financing receivables on nonaccrual status. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=28368275&loc=d3e5111-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI http://asc.fasb.org/extlink&oid=28368275&loc=SL6953401-111524 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 4 -Article 5 + Details
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- Definition Tabular disclosure of nonaccrual and past due financing receivables (such as loans and trade receivables), including: (a) the recorded investment in loans and trade receivables, if applicable, on nonaccrual status as of each balance sheet date (b) the recorded investment in loans and trade receivables, if applicable, past due 90 days or more and still accruing. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=28368275&loc=d3e5111-111524 + Details
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