New Accounting Standards

3 Months Ended

Mar. 31, 2014

Accounting Changes and Error Corrections [Abstract]

New Accounting Standards

New Accounting Standards

Recently Adopted Accounting Standards

In 2013, the FASB issued Accounting Standards Update No. 2014-04, "Receivables (Topic 310): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure" ("ASU 2014-04"). The ASU clarifies that an in substance repossession or foreclosure occurs upon either the creditor obtaining legal title to the residential real estate property or the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through asimilar legal agreement. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. The amendments may be adopted using either a modified retrospective transition method or a prospective transition method. Early adoption is permitted. Management does not believe the amendments will have a material impact on the Company's financial condition, results of operations, or cash flows.