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Note 7 - Intangible Assets | 12 Months Ended
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Dec. 31, 2014
Disclosure Text Block [Abstract] |
Intangible Assets Disclosure [Text Block] | Note 7 – Intangible Assets Intangible assets are included in the Consolidated Balance Sheets as a separate line item, net of accumulated amortization and consist of the following items:
(dollars in thousands) |  | Gross Intangible Assets |  |  | Additions |  |  | Accumulated Amortization |  |  | Net Intangible Assets |
2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill (1) |  | $ | 2,163 |  |  | $ | 102,262 |  |  | $ | - |  |  | $ | 104,425 |
Core deposit (2) |  |  | 2,520 |  |  |  | 4,550 |  |  |  | (1,869 | ) |  |  | 5,201 |
Excess servicing (3) |  |  | 865 |  |  |  | 330 |  |  |  | (913 | ) |  |  | 282 |
|  | $ | 5,548 |  |  | $ | 107,142 |  |  | $ | (2,782 | ) |  | $ | 109,908 |
2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill (1) |  | $ | 2,163 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,163 |
Core deposit (2) |  |  | 2,520 |  |  |  | - |  |  |  | (1,407 | ) |  |  | 1,113 |
Excess servicing (3) |  |  | 526 |  |  |  | 339 |  |  |  | (631 | ) |  |  | 234 |
|  | $ | 5,209 |  |  | $ | 339 |  |  | $ | (2,038 | ) |  | $ | 3,510 |
| (1) | The Company recorded an initial amount of unidentified intangible (goodwill) incident to the acquisition of Fidelity & Trust Financial Corporation (“Fidelity”) of approximately $360 thousand. Based on allowable adjustments through August 31, 2009, the unidentified intangible (goodwill) amounted to approximately $2.2 million. The Company recorded an initial amount of unidentified intangible (goodwill) incident to the acquisition of Virginia Heritage of approximately $102.3 million.
| (2) | In connection with the Fidelity acquisition (August 2008), one branch purchase (January 2011), and the Virginia Heritage acquisition, the Company made an allocation of the purchase price to the core deposit intangibles which were $2.3 million, $215 thousand, and $4.6 million respectively based on an independent evaluation. The amount of the core deposit intangible relating to the one branch acquisition was fully amortized at December 31, 2013. The amount of the core deposit intangible relating to the Fidelity acquisition at December 31, 2014 was $804 thousand, which is being amortized over its remaining economic life of 1.2 years as a component of other noninterest expense. The amount of the core deposit intangible relating to the Virginia Heritage acquisition at December 31, 2014 was $4.4 million, which is being amortized over its remaining economic life of 6 years as a component of other noninterest expense.
| (3) | The Company recognizes a servicing asset for the computed value of servicing fees on the sale of the guaranteed portion of SBA loans, which is in excess of a normal servicing fee. Assumptions related to the loan term and amortization period are made to arrive at the initial recorded value.
The future estimated annual amortization expense is presented below:
Years ending December 31: |  |  |  |
(dollars in thousands) |  |  |  |
2015 |  | $ | 1,215 |
2016 |  |  | 1,207 |
2017 |  |  | 1,064 |
2018 |  |  | 957 |
2019 |  |  | 715 |
Thereafter |  |  | 43 |
Total |  | $ | 5,201 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 + Details
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