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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2015
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Note 14. Stockholders’ Equity Restrictions on dividends: Banking regulations limit the amount of dividends that may be paid without prior approval of the Bank’s regulatory agencies. Regulatory approval is required to pay dividends that exceed the Bank’s net profits for the current year plus its retained net profits for the preceding two years. Retained earnings from which dividends may not be paid without prior approval totaled approximately $18,752,000, $17,171,000, and $15,293,000 at December 31, 2015, 2014, and 2013, respectively, based on the earnings restrictions and minimum capital ratio requirements noted below. Employee stock purchase benefit plans: The Company has a stock-based compensation plan, which is described below. There were no options issued during the years ended December 31, 2015, 2014, and 2013. Employees who have completed one year of service are eligible to participate in the employee stock purchase plan. The number of shares of common stock granted under options will bear a uniform relationship to compensation. The plan allows employees to buy stock under options granted at 85% of the fair market value of the stock on the date of grant. Options are vested when granted and will expire no later than 27 months from the grant date or upon termination of employment. Activity under this plan is as follows: At December 31, 2015, shares of common stock reserved for issuance under the plan totaled 48,011. The Board of Directors may suspend or discontinue the plan at its discretion. Dividend reinvestment and stock purchase plan: The Company’s dividend reinvestment and stock purchase plan allows all participating stockholders the opportunity to receive additional shares of common stock in lieu of cash dividends at 95% of the fair market value on the dividend payment date. During 2015, 2014, and 2013, shares of common stock purchased under the plan totaled 12,397, 13,594, and 10,392 respectively. At December 31, 2014, shares of common stock reserved for issuance under the plan totaled 185,127. The Board of Directors may suspend or discontinue the plan at its discretion. Stockholder purchase plan: The Company’s stockholder purchase plan allows participating stockholders an option to purchase newly issued shares of common stock. The Board of Directors shall determine the number of shares that may be purchased pursuant to options. Options granted will expire no later than three months from the grant date. Each option will entitle the stockholder to purchase one share of common stock, and will be granted in proportion to stockholder share holdings. At the discretion of the Board of Directors, stockholders may be given the opportunity to purchase unsubscribed shares. There was no activity under this plan for the years ended December 31, 2015, 2014, and 2013. At December 31, 2015, shares of common stock reserved for issuance under the plan totaled 313,919. The Board of Directors may suspend or discontinue the plan at its discretion. Under all three plans, options granted, exercised, and expired, shares issued and reserved, and grant prices have been restated for the effects of any stock dividends or stock splits. Regulatory capital requirements: The Company and Bank are subject to various regulatory capital requirements administered by Federal and State 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 Company’s financial statements. The Company and Bank must meet specific capital guidelines that involve quantitative measures of their respective assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting principles. The Company’s and Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Common Equity Tier 1 (beginning in 2015), Tier 1 and Total capital ratios are calculated by dividing the respective capital amounts by risk-weighted assets. Risk-weighted assets are calculated based on regulatory requirements and include total assets, with certain exclusions, allocated by risk weight category, and certain off-balance-sheet items, among other things. The leverage ratio is calculated by dividing Tier 1 capital by adjusted quarterly average total assets, which exclude goodwill and other intangible assets, among other things. When fully phased in on January 1, 2019, the Basel III Capital Rules will require the Bank and Bancorp to maintain (i) a minimum ratio of Common Equity Tier 1 capital to risk-weighted assets of at least 4.5%, plus a 2.5% “capital conservation buffer” (which is added to the 4.5% Common Equity Tier 1 capital ratio as that buffer is phased in, effectively resulting in a minimum ratio of Common Equity Tier 1 capital to risk-weighted assets of at least 7.0% upon full implementation), (ii) a minimum ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the capital conservation buffer (which is added to the 6.0% Tier 1 capital ratio as that buffer is phased in, effectively resulting in a minimum Tier 1 capital ratio of 8.5% upon full implementation), (iii) a minimum ratio of Total capital (that is, Tier 1 plus Tier 2) to risk-weighted assets of at least 8.0%, plus the capital conservation buffer (which is added to the 8.0% total capital ratio as that buffer is phased in, effectively resulting in a minimum total capital ratio of 10.5% upon full implementation) and (iv) a minimum leverage ratio of 4.0%, calculated as the ratio of Tier 1 capital to average quarterly assets. The implementation of the capital conservation buffer will begin on January 1, 2016 at the 0.625% level and be phased in over a four-year period (increasing by that amount on each subsequent January 1, until it reaches 2.5% on January 1, 2019). The Basel III Capital Rules also provide for a “countercyclical capital buffer” that is applicable to only certain covered institutions and does not have any current applicability to the Bank or Bancorp. The capital conservation buffer is designed to absorb losses during periods of economic stress and, as detailed above, effectively increases the minimum required risk-weighted capital ratios. Banking institutions with a ratio of Common Equity Tier 1 capital to risk-weighted assets below the effective minimum (4.5% plus the capital conservation buffer and, if applicable, the countercyclical capital buffer) will face constraints on dividends, equity repurchases and compensation based on the amount of the shortfall. The following table presents actual and required capital ratios as of December 31, 2015 for the Bank and Bancorp under the Basel III Capital Rules. The minimum required capital amounts presented include the minimum required capital levels as of December 31, 2015 based on the phase-in provisions of the Basel III Capital Rules and the minimum required capital levels as of January 1, 2019 when the Basel III Capital Rules have been fully phased-in. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. Management believes that as of December 31, 2015, the Bancorp and the Bank are “well capitalized” based on the ratios presented below.
|  |  |  |  |  |  |  | Minimum Capital |  |  | Minimum Capital |  |  | To Be Well Capitalized |
|  |  |  |  |  |  |  | Required - Basel III |  |  | Required - Basel III Fully |  |  | Under Prompt Corrective |
|  | Actual |  |  | Phased-In Schedule |  |  | Phased-In |  |  | Action Provisions |
|  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
As of December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company |  | $ | 37,506,000 |  |  |  | 15.5 | % |  | $ | 19,382,946 |  |  |  | 8.0 | % |  | $ | 25,440,116 |  |  |  | 10.5 | % |  |  | N/A |  |  |  |  |
Bank |  |  | 37,213,000 |  |  |  | 15.4 | % |  |  | 19,369,161 |  |  |  | 8.0 | % |  |  | 25,422,023 |  |  |  | 10.5 | % |  | $ | 24,211,451 |  |  |  | 10.0 | %
Tier I Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company |  | $ | 34,477,000 |  |  |  | 14.2 | % |  | $ | 14,537,034 |  |  |  | 6.0 | % |  | $ | 20,594,132 |  |  |  | 8.5 | % |  |  | N/A |  |  |  |  |
Bank |  |  | 34,185,000 |  |  |  | 14.1 | % |  |  | 14,526,204 |  |  |  | 6.0 | % |  |  | 20,578,789 |  |  |  | 8.5 | % |  |  | 19,368,272 |  |  |  | 8.0 | %
Tier I Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Average Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company |  | $ | 34,477,000 |  |  |  | 8.8 | % |  | $ | 15,724,971 |  |  |  | 4.0 | % |  | $ | 15,724,971 |  |  |  | 4.0 | % |  |  | N/A |  |  |  |  |
Bank |  |  | 34,185,000 |  |  |  | 8.7 | % |  |  | 15,717,241 |  |  |  | 4.0 | % |  |  | 15,717,241 |  |  |  | 4.0 | % |  |  | 19,646,552 |  |  |  | 5.0 | %
Common Equity Tier I Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company |  | $ | 34,477,000 |  |  |  | 14.2 | % |  | $ | 10,902,776 |  |  |  | 4.5 | % |  | $ | 16,959,874 |  |  |  | 7.0 | % |  |  | N/A |  |  |  |  |
Bank |  |  | 34,185,000 |  |  |  | 14.1 | % |  |  | 10,894,653 |  |  |  | 4.5 | % |  |  | 16,947,238 |  |  |  | 7.0 | % |  |  | 15,736,721 |  |  |  | 6.5 | %
|  |  |  |  |  |  |  |  |  |  |  |  |  | To Be Well Capitalized |
|  |  |  |  |  |  |  | For Capital |  |  | Under Prompt Corrective |
|  | Actual |  |  | Adequacy Purposes |  |  | Action Provisions |
|  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |  |  | Amount |  |  | Ratio |
As of December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company |  | $ | 36,959,000 |  |  |  | 14.3 | % |  | $ | 20,645,810 |  |  |  | 8.0 | % |  |  | N/A |  |  |  |  |
Bank |  |  | 36,655,000 |  |  |  | 14.3 | % |  |  | 20,477,654 |  |  |  | 8.0 | % |  | $ | 25,597,067 |  |  |  | 10.0 | %
Tier I Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company |  | $ | 33,728,000 |  |  |  | 13.1 | % |  | $ | 10,322,265 |  |  |  | 4.0 | % |  |  | N/A |  |  |  |  |
Bank |  |  | 33,454,000 |  |  |  | 13.1 | % |  |  | 10,238,409 |  |  |  | 4.0 | % |  |  | 15,357,613 |  |  |  | 6.0 | %
Tier I Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Average Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company |  | $ | 33,728,000 |  |  |  | 8.5 | % |  | $ | 15,834,742 |  |  |  | 4.0 | % |  |  | N/A |  |  |  |  |
Bank |  |  | 33,454,000 |  |  |  | 8.4 | % |  |  | 16,006,699 |  |  |  | 4.0 | % |  |  | 20,008,373 |  |  |  | 5.0 | %
As of December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company |  | $ | 35,933,000 |  |  |  | 14.1 | % |  | $ | 20,329,844 |  |  |  | 8.0 | % |  |  | N/A |  |  |  |  |
Bank |  |  | 35,624,000 |  |  |  | 14.1 | % |  |  | 20,183,569 |  |  |  | 8.0 | % |  | $ | 25,229,462 |  |  |  | 10.0 | %
Tier I Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Risk Weighted Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company |  | $ | 32,761,000 |  |  |  | 12.9 | % |  | $ | 10,166,330 |  |  |  | 4.0 | % |  |  | N/A |  |  |  |  |
Bank |  |  | 32,470,000 |  |  |  | 12.9 | % |  |  | 10,091,686 |  |  |  | 4.0 | % |  | $ | 15,137,529 |  |  |  | 6.0 | %
Tier I Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(to Average Assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company |  | $ | 32,761,000 |  |  |  | 8.7 | % |  | $ | 15,079,862 |  |  |  | 4.0 | % |  |  | N/A |  |  |  |  |
Bank |  |  | 32,470,000 |  |  |  | 8.6 | % |  |  | 15,119,907 |  |  |  | 4.0 | % |  | $ | 18,899,884 |  |  |  | 5.0 | %

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C + Details
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