XML 88 R12.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Investment Securities | 12 Months Ended
--- | ---
Dec. 31, 2013
Investments Debt And Equity Securities [Abstract] |
Investment Securities | 4. Investment Securities Summary information regarding investment securities classified as available for sale and held to maturity as of December 31, 2013 and 2012 follows.
(dollars in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
|  |  |  |  |  |  |  | Less Than 1 Year |  |  | Over 1 Year |  |  |  |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 96,145 |  |  | $ | 1,765 |  |  | $ | 909 |  |  | $ | 216 |  |  | $ | 96,785 |
Non-U.S. agency mortgage-backed |  |  | 9,765 |  |  |  | 58 |  |  |  | 31 |  |  |  | 43 |  |  |  | 9,749 |
Municipal bonds |  |  | 19,879 |  |  |  | 318 |  |  |  | 279 |  |  |  | 119 |  |  |  | 19,799 |
U.S. government agency |  |  | 23,543 |  |  |  | 236 |  |  |  | 480 |  |  |  | — |  |  |  | 23,299 |
Total available for sale |  | $ | 149,332 |  |  | $ | 2,377 |  |  | $ | 1,699 |  |  | $ | 378 |  |  | $ | 149,632 |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 132 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 133 |
Municipal bonds |  |  | 9,273 |  |  |  | 67 |  |  |  | 198 |  |  |  | — |  |  |  | 9,142 |
Total held to maturity |  | $ | 9,405 |  |  | $ | 68 |  |  | $ | 198 |  |  | $ | — |  |  | $ | 9,275 |
(dollars in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
|  |  |  |  |  |  |  | Less Than 1 Year |  |  | Over 1 Year |  |  |  |
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 99,137 |  |  | $ | 3,391 |  |  | $ | 14 |  |  | $ | 1 |  |  | $ | 102,513 |
Non-U.S. agency mortgage-backed |  |  | 12,426 |  |  |  | 280 |  |  |  | — |  |  |  | 38 |  |  |  | 12,668 |
Municipal bonds |  |  | 16,843 |  |  |  | 774 |  |  |  | 32 |  |  |  | — |  |  |  | 17,585 |
U.S. government agency |  |  | 23,944 |  |  |  | 553 |  |  |  | 7 |  |  |  | — |  |  |  | 24,490 |
Total available for sale |  | $ | 152,350 |  |  | $ | 4,998 |  |  | $ | 53 |  |  | $ | 39 |  |  | $ | 157,256 |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 693 |  |  | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | 706 |
Municipal bonds |  |  | 972 |  |  |  | 68 |  |  |  | — |  |  |  | — |  |  |  | 1,040 |
Total held to maturity |  | $ | 1,665 |  |  | $ | 81 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,746 |
Management evaluates securities for other-than-temporary impairment at least quarterly, and more frequently when economic and market conditions warrant such evaluations. Consideration is given to (1) the extent and length of time the fair value has been below cost; (2) the reasons for the decline in value; (3) the Company’s intent to sell a security or whether it is more likely than not we will be required to sell the security before the recovery of its amortized cost, which may extend to maturity and our ability and intent to hold the security for a period of time that allows for the recovery in value in the case of equity securities. The Company developed a process to identify securities that could potentially have a credit impairment that is other-than-temporary. This process involves evaluating each security for impairment by monitoring credit performance, collateral type, collateral geography, bond credit support, loan-to-value ratios, credit scores, loss severity levels, pricing levels, downgrades by rating agencies, cash flow projections and other factors as indicators of potential credit issues. When the Company determines that a security is deemed to be other than temporarily impaired, an impairment loss is recognized. As of December 31, 2013, 64 debt securities had unrealized losses totaling 3.3% of the individual securities’ amortized cost basis and 1.4% of the Company’s total amortized cost basis of the investment securities portfolio. Nine of the 64 securities had been in a continuous loss position for over 12 months at such date. The nine securities had an aggregate amortized cost basis and unrealized loss of $7,478,000 and $378,000, respectively, at December 31, 2013. Management has the intent and ability to hold these debt securities until maturity, or until anticipated recovery. No declines in these 64 securities were deemed to be other-than-temporary. As of December 31, 2012, 16 debt securities had unrealized losses totaling 0.7% of the individual securities’ amortized cost basis and 0.1% of the Company’s total amortized cost basis of the investment securities portfolio. Five of the 16 securities had been in a continuous loss position for over 12 months at such date. The five securities had an aggregate amortized cost basis and unrealized loss of $2,653,000 and $39,000, respectively, at December 31, 2012. Management has the intent and ability to hold these debt securities until maturity, or until anticipated recovery. No declines in these five securities were deemed to be other-than-temporary. The amortized cost and estimated fair value by maturity of investment securities as of December 31, 2013 are shown in the following tables. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. The expected maturity of a security, may differ from its contractual maturity because of the exercise of call options and potential paydowns. Accordingly, actual maturities may differ from contractual maturities.
(dollars in thousands) |  | One Year or Less |  |  | After One Year through Five Years |  |  | After Five Years through Ten Years |  |  | After Ten Years |  |  | Total |
Fair Value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 113 |  |  | $ | 231 |  |  | $ | 15,665 |  |  | $ | 80,776 |  |  | $ | 96,785 |
Non-U.S. agency mortgage-backed |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9,749 |  |  |  | 9,749 |
Municipal bonds |  |  | 503 |  |  |  | 4,858 |  |  |  | 11,574 |  |  |  | 2,864 |  |  |  | 19,799 |
U.S. government agency |  |  | 2,512 |  |  |  | 5,293 |  |  |  | 10,510 |  |  |  | 4,984 |  |  |  | 23,299 |
Total securities available for sale |  | $ | 3,128 |  |  | $ | 10,382 |  |  | $ | 37,749 |  |  | $ | 98,373 |  |  | $ | 149,632 |
Securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 133 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 133 |
Municipal bonds |  |  | 216 |  |  |  | 797 |  |  |  | 6,886 |  |  |  | 1,243 |  |  |  | 9,142 |
Total securities held to maturity |  | $ | 349 |  |  | $ | 797 |  |  | $ | 6,886 |  |  | $ | 1,243 |  |  | $ | 9,275 |
(dollars in thousands) |  | One Year or Less |  |  | After One Year through Five Years |  |  | After Five Years through Ten Years |  |  | After Ten Years |  |  | Total |
Amortized Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 108 |  |  | $ | 214 |  |  | $ | 15,696 |  |  | $ | 80,127 |  |  | $ | 96,145 |
Non-U.S. agency mortgage-backed |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9,765 |  |  |  | 9,765 |
Municipal bonds |  |  | 503 |  |  |  | 4,743 |  |  |  | 11,761 |  |  |  | 2,872 |  |  |  | 19,879 |
U.S. government agency |  |  | 2,500 |  |  |  | 5,225 |  |  |  | 10,990 |  |  |  | 4,828 |  |  |  | 23,543 |
Total securities available for sale |  | $ | 3,111 |  |  | $ | 10,182 |  |  | $ | 38,447 |  |  | $ | 97,592 |  |  | $ | 149,332 |
Securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 132 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 132 |
Municipal bonds |  |  | 215 |  |  |  | 756 |  |  |  | 7,041 |  |  |  | 1,261 |  |  |  | 9,273 |
Total securities held to maturity |  | $ | 347 |  |  | $ | 756 |  |  | $ | 7,041 |  |  | $ | 1,261 |  |  | $ | 9,405 |
For the year ended December 31, 2013, the Company recorded gross gains of $428,000 and no gross losses related to the sale of investment securities. For the year ended December 31, 2012, the Company recorded gross gains of $230,000 and gross losses of $8,000 related to the sale of investment securities. As of December 31, 2013 and 2012, the Company had accrued interest receivable for investment securities of $679,000 and $565,000, respectively. As of December 31, 2013 and 2012, the Company had $43,977,000 and $41,462,000, respectively, of securities pledged to secure public deposits.

X
- Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration