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Commitments, Contingencies and Off-Balance Sheet Risk
 3 Months Ended
Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Commitments, Contingencies and Off-Balance Sheet Risk

(10) Commitments, Contingencies and Off-Balance Sheet Risk

Some financial instruments, such as loan commitments, credit lines, letters of credit and overdraft protection, are issued to meet customers’ financing needs. These are agreements to provide credit or to support the credit of others, as long as the conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk of credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of commitment. The contractual amounts of financial instruments with off-balance-sheet risk were as follows for March 31, 2015 and December 31, 2014:

 

     Contract Amount  
     March 31, 2015      December 31, 2014  
     Fixed      Variable      Fixed      Variable  
     Rate      Rate      Rate      Rate  

Commitment to extend credit:

            

Lines of credit and construction loans

    $ 10,430       $ 176,371       $ 9,405       $ 160,718   

Overdraft protection

      5         24,531         4         22,122   

Letters of credit

      200         1,007         200         1,007   
  

 

 

     

 

 

     

 

 

     

 

 

  
$ 10,635    $ 201,909    $ 9,609    $ 183,847   
  

 

 

     

 

 

     

 

 

     

 

 

  

Commitments to make loans are generally made for a period of one year or less. Fixed rate loan commitments included in the table above had interest rates ranging from 3.05% to 8.75% at March 31, 2015 and December 31, 2014, respectively. Maturities extend up to 30 years.

Civista is required to maintain certain reserve balances on hand in accordance with the Federal Reserve Board requirements. The average reserve balance maintained in accordance with such requirements was $21,019 on March 31, 2015 and $3,259 on December 31, 2014.