2.4.0.8013 - Disclosure - NOTE 7 - SUBORDINATED DEBENTUREStruefalsefalse1false falsefalseContext_6ME__30-Jun-2013http://www.sec.gov/CIK0000353191duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_SubordinatedLongtermDebtCurrentAndNoncurrentAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Subordinated Debt [Abstract]2false 2us-gaap_DebtDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1falsefalsefalse00NOTE 7 – SUBORDINATED DEBENTURES   The Company owns the common stock of three business trusts that have issued an aggregate of $21.0 million in trust preferred securities fully and unconditionally guaranteed by the Company. The entire proceeds of each respective issuance of trust preferred securities were invested by the separate business trusts into junior subordinated debentures issued by the Company, with identical maturity, repricing and payment terms as the respective issuance of trust preferred securities. The aggregate amount of junior subordinated debentures issued by the Company is $21,651,000, with the maturity dates for the respective debentures ranging from 2033 through 2036. Subject to regulatory approval, the Company may redeem the respective junior subordinated debentures earlier than the maturity date, based on their respective redemption dates. The respective junior subordinated debentures became redeemable in April 2008, July 2009 and March 2011.   <div style="text-align: justify; margin: 0px; font: 10pt times new roman, times, serif;">The trust preferred securities issued by the trusts are currently included in Tier 1 capital in the amount of $21,000,000 for purposes of determining Leverage, Tier 1 and Total Risk-Based capital ratios for the periods ending June 30, 2013 and December 31, 2012.</div>   <div style="text-align: justify; margin: 0px; font: 10pt times new roman, times, serif;">The following table summarizes the terms of each subordinated debenture issuance for the periods ending June 30, 2013 and December 31, 2012 (dollars in thousands):</div> <table style="font: 10pt/normal times new roman, times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-indent: -10pt; padding-left: 10pt;"></td> <td></td> <td colspan="3"></td> <td></td> <td colspan="3"></td> <td style="font-weight: bold;"></td> <td style="text-align: center; font-weight: bold;">Fixed or</td> <td></td> <td colspan="3"></td> <td></td> <td colspan="3"></td> <td></td> <td colspan="3"></td> <td></td> <td colspan="3"></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-indent: -10pt; padding-left: 10pt;"></td> <td style="font-weight: bold;"></td> <td style="text-align: center; font-weight: bold;" colspan="2">Date</td> <td style="text-align: center; font-weight: bold;"></td> <td></td> <td colspan="3"></td> <td style="font-weight: bold;"></td> <td style="text-align: center; font-weight: bold;">Variable</td> <td style="font-weight: bold;"></td> <td style="text-align: center; font-weight: bold;" colspan="2">Current</td> <td style="text-align: center; font-weight: bold;"></td> <td style="font-weight: bold;"></td> <td style="text-align: center; font-weight: bold;" colspan="2">Rate</td> <td style="text-align: center; font-weight: bold;"></td> <td style="font-weight: bold;"></td> <td style="text-align: center; font-weight: bold;" colspan="2">Redemption</td> <td style="text-align: center; font-weight: bold;"></td> <td></td> <td></td> <td></td> <td></td> </tr> <tr style="vertical-align: bottom;"> <td style="border-bottom: black 1pt solid; text-align: center; text-indent: -10pt; padding-left: 10pt; font-weight: bold;">Series</td> <td style="padding-bottom: 1pt; font-weight: bold;"></td> <td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2">Issued</td> <td style="text-align: center; font-weight: bold;"></td> <td style="padding-bottom: 1pt; font-weight: bold;"></td> <td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2">Maturity</td> <td style="text-align: center; font-weight: bold;"></td> <td style="padding-bottom: 1pt; font-weight: bold;"></td> <td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;">Rate</td> <td style="padding-bottom: 1pt; font-weight: bold;"></td> <td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2">Rate</td> <td style="text-align: center; font-weight: bold;"></td> <td style="padding-bottom: 1pt; font-weight: bold;"></td> <td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2">Index</td> <td style="text-align: center; font-weight: bold;"></td> <td style="padding-bottom: 1pt; font-weight: bold;"></td> <td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2">Date</td> <td style="text-align: center; font-weight: bold;"></td> <td style="padding-bottom: 1pt; font-weight: bold;"></td> <td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2">Amount</td> <td style="text-align: center; font-weight: bold;"></td> </tr> <tr style="background-color: #eaf9e8; vertical-align: bottom;"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt; width: 21%;">North Valley Capital Trust II</td> <td style="width: 2%;"></td> <td style="text-align: left; width: 1%;"></td> <td style="text-align: right; width: 7%;">4/10/03</td> <td style="text-align: left; width: 1%;"></td> <td style="width: 2%;"></td> <td style="text-align: left; width: 1%;"></td> <td style="text-align: right; width: 7%;">4/24/33</td> <td style="text-align: left; width: 1%;"></td> <td style="width: 2%;"></td> <td style="text-align: left; width: 7%;">Variable</td> <td style="width: 2%;"></td> <td style="text-align: left; width: 1%;"></td> <td style="text-align: right; width: 7%;">3.52</td> <td style="text-align: left; width: 1%;">%</td> <td style="width: 2%;"></td> <td style="text-align: left; width: 1%;"></td> <td style="text-align: right; width: 9%;">LIBOR + 3.25%</td> <td style="text-align: left; width: 1%;"></td> <td style="width: 2%;"></td> <td style="text-align: left; width: 1%;"></td> <td style="text-align: right; width: 7%;">4/24/08</td> <td style="text-align: left; width: 1%;"></td> <td style="width: 2%;"></td> <td style="text-align: left; width: 1%;"></td> <td style="text-align: right; width: 9%;">6,186</td> <td style="text-align: left; width: 1%;"></td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt;">North Valley Capital Trust III</td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;">5/5/04</td> <td style="text-align: left;"></td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;">4/24/34</td> <td style="text-align: left;"></td> <td></td> <td style="text-align: left;">Variable</td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;">3.08</td> <td style="text-align: left;">%</td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;">LIBOR + 2.80%</td> <td style="text-align: left;"></td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;">7/23/09</td> <td style="text-align: left;"></td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;">5,155</td> <td style="text-align: left;"></td> </tr> <tr style="background-color: #eaf9e8; vertical-align: bottom;"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt;">North Valley Capital Statutory Trust IV</td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;">12/29/05</td> <td style="text-align: left;"></td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;">3/15/36</td> <td style="text-align: left;"></td> <td></td> <td style="text-align: left;">Variable</td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;">1.60</td> <td style="text-align: left;">%</td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;">LIBOR + 1.33%</td> <td style="text-align: left;"></td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;">3/15/11</td> <td style="text-align: left;"></td> <td></td> <td style="border-bottom: black 1pt solid; text-align: left;"></td> <td style="border-bottom: black 1pt solid; text-align: right;">10,310</td> <td style="text-align: left;"></td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-indent: -10pt; padding-left: 10pt;"></td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;"></td> <td style="text-align: left;"></td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;"></td> <td style="text-align: left;"></td> <td></td> <td></td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;"></td> <td style="text-align: left;"></td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;"></td> <td style="text-align: left;"></td> <td></td> <td style="text-align: left;"></td> <td style="text-align: right;"></td> <td style="text-align: left;"></td> <td></td> <td style="border-bottom: black 3pt double; text-align: left;">$</td> <td style="border-bottom: black 3pt double; text-align: right;">21,651</td> <td style="text-align: left;"></td> </tr> </table> At June 30, 2013 and December 31, 2012, the Company had recorded accrued and unpaid interest payments on junior subordinated debentures of $76,000 and $79,000, respectively.falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.Reference 1: 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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 false0SUBORDINATED DEBENTURESfalseNOTE 7 - SUBORDINATED DEBENTURESUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.novb.com/role/Note6SubordinatedDebentures12