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Capital Resources
 12 Months Ended
Dec. 31, 2016
Capital Resources [Abstract]  
Capital Resources

Note 14: Capital Resources

Regulatory Capital Requirements: The Company and Bank are subject to various regulatory capital requirements administered by the 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 effect on the Companys financial statements. Under capital adequacy guidelines and the regulatory frameworks for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Banks assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Parent Company, like all bank holding companies, is not subject to the prompt corrective action provisions. The Company's and Bank's capital amounts and classification are also subject to qualitative judgment by the regulators about components, risk weightings and other factors.

On July 2, 2013, the Board of Governors of the Federal Reserve Bank issued a final rule implementing a revised regulatory capital framework for U.S. banks in accordance with the Basel III international accord and satisfying related mandates under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The revised regulatory capital framework (the "Basel III Capital Rules") substantially revised the risk based capital requirements applicable to bank holding companies and depository institutions by defining the components of capital and addressing other issues affecting the numerator in banking institutions' regulatory capital ratios, addressing risk weights and other issues affecting the denominator in banking institutions' regulatory capital ratios and replacing the existing risk weighting approach with a more risk sensitive approach. The final rules also established a "capital conservation buffer" of 2.5% above new regulatory minimum capital ratios, and when fully effective in 2019, will result in the following minimum ratios: (i) a common equity Tier 1 capital ratio of 7.0%; (ii) a Tier 1 risk-based capital ratio of 8.5%; and (iii) a total capital ratio of 10.5%. The new capital conservation buffer requirement will be phased in beginning in January 2016 at 0.625% of risk-weighted assets and increases each year until fully implemented in January 2019. An institution is subject to limitations on paying dividends, engaging in share repurchase, and paying discretionary bonuses if its capital level falls below the buffer amount. These limitations will establish a maximum percentage of eligible retained income that can be utilized for such activities. The Basel III Capital Rules became effective for the Company on January 1, 2015.

Quantitative measures established by regulation to ensure capital adequacy require the Company and Bank to maintain minimum amounts and ratios as set forth in the table below. As of December 31, 2016, the Company and the Bank exceeded all capital adequacy requirements to which they are subject. As of December 31, 2016, the most recent notification from the federal regulators categorized the Bank as well-capitalized. The rules also added a new risk-weighted capital measure Common Equity Tier 1 ("CET1"). The new Basel III capital adequacy guidelines require all banks and bank holding companies to maintain minimum capital ratios depicted in the table below:

                  Minimum to be Well
                  Capitalized Under
          Minimum Capital Prompt Corrective
  Actual Requirement Action Provisions
As of December 31, 2016   Amount Ratio     Amount Ratio     Amount Ratio  
Total Capital                        
(To Risk-Weighted Assets)                        
Consolidated $ 171,558 16.52 % $ 83,097 8.00 % $ 109,065 10.50 %
Bank   173,458 16.71     83,031 8.00     108,978 10.50  
 
Common Equity Tier 1                        
(To Risk-Weighted Assets)                        
Consolidated $ 155,905 15.01 % $ 46,742 4.50 % $ 67,516 6.50 %
Bank   157,805 15.20     46,705 4.50     67,463 6.50  
 
Tier 1 Capital                        
(To Risk-Weighted Assets)                        
Consolidated $ 155,905 15.01 % $ 62,323 6.00 % $ 83,097 8.00 %
Bank   157,805 15.20     62,273 6.00     83,031 8.00  
 
Leverage Capital Ratio                        
Total Capital                        
(To Total Assets for Leverage Ratio)                        
Consolidated $ 155,905 8.94 % $ 69,722 4.00 % $ 87,152 5.00 %
Bank   157,805 9.06     69,683 4.00     87,104 5.00  
                  Minimum to be Well
                  Capitalized Under
          Minimum Capital Prompt Corrective
  Actual Requirement Action Provisions
As of December 31, 2015   Amount Ratio     Amount Ratio     Amount Ratio  
Total Capital                        
(To Risk-Weighted Assets)                        
Consolidated $ 160,042 17.12 % $ 74,793 8.00 % $ 98,166 10.50 %
Bank   161,905 17.34     74,713 8.00     98,060 10.50  
 
Common Equity Tier 1                        
(To Risk-Weighted Assets)                        
Consolidated $ 145,400 15.55 % $ 42,071 4.50 % $ 65,444 6.50 %
Bank   147,263 15.77     42,026 4.50     65,374 6.50  
 
Tier 1 Capital                        
(To Risk-Weighted Assets)                        
Consolidated $ 145,400 15.55 % $ 56,095 6.00 % $ 79,468 8.00 %
Bank   147,263 15.77     56,035 6.00     79,382 8.00  
 
Leverage Capital Ratio                        
Total Capital                        
(To Total Assets for Leverage Ratio)                        
Consolidated $ 145,400 9.37 % $ 62,087 4.00 % $ 62,087 5.00 %
Bank   147,263 9.49     62,050 4.00     62,050 5.00  

 

Dividend Limitations: Dividends paid by the Bank are the primary source of funds available to the Company for payment of dividends to its shareholders. The Bank is subject to certain requirements imposed by federal banking laws and regulations. These requirements, among other things, establish minimum levels of capital and restrict the amount of dividends that may be distributed by the Bank to the Company. At December 31, 2016, the Bank had $69,669 available for dividends that could be paid without prior regulatory approval.

Stock Repurchase Plan: In August 2008, the Company's Board of Directors approved a 24 month program to repurchase up to 450,000 shares of the Company's common stock, or approximately 10.2% of the shares then currently outstanding. The Company's Board of Directors authorized the continuance of this program for additional 24 month periods in August 2010, 2012 and 2014. On August 16, 2016, the Company's Board of Directors authorized the continuance of this program through August 17, 2018

Depending on market conditions and other factors, these purchases may be commenced or suspended at any time, or from time to time, without prior notice and may be made in the open market or through privately negotiated transactions.

As of December 31, 2016, the Company had repurchased 173,794 shares of stock under this plan, at a total cost of $3,465 and an average price of $19.94 per share. During 2016, the Company repurchased 15,381 shares under the plan, at a total cost of $497 and an average price of $32.30. The Company records repurchased shares as treasury stock.

As of December 31, 2015, the Company had repurchased 158,413 shares of stock under this plan, at a total cost of $2,968 and an average price of $18.74 per share. During 2015, the Company repurchased 656 shares under the plan. The Company records repurchased shares as treasury stock.