Loans and the Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2014

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

The following table sets forth the composition of the Corporation’s loan portfolio, including net deferred fees and costs, at September 30, 2014 and December 31, 2013:

	September 30,			December 31,
	2014			2013
	(in thousands)
Commercial	$	470,510		$	229,688
Commercial real estate		1,570,854			536,539
Construction		141,844			42,722
Residential real estate		241,387			150,571
Consumer		2,640			1,084
Subtotal		2,427,235			960,604
Net deferred loan (fees) costs		(470	)		339
Loans receivable	$	2,426,765		$	960,943

Loans and Leases Receivable Purchase Credit Impaired Loans [Table Text Block]

The carrying amount of those loans is as follows at September 30, 2014 and December 31, 2013.

	September 30,		December 31,
	2014		2013
	(in thousands)
Commercial	$	7,255	$	—
Commercial real estate		1,835		—
Construction		—		—
Residential real estate		2,262		—
Consumer		—		—
Total carrying amount	$	11,352	$	—

Loans and Leases Receivable Purchased Loans [Table Text Block]

The accretable yield, or income expected to be collected, on the purchased loans above is as follows at September 30, 2014 and December 31, 2013.

	September 30,
	2014
Balance at July 1	$	5,013
New loans purchased		—
Accretion of income		(76	)
Reclassifications from non-accretable difference		—
Disposals		—
Balance at September 30	$	4,937

Schedule of Financing Receivables, Non Accrual Status [Table Text Block]

The following table presents information about the recorded investment in loan receivables on non-accrual status by class at September 30, 2014 and December 31, 2013:

Loans Receivable on Non-Accrual Status
	September 30, 2014		December 31, 2013
	(in thousands)
Commercial	$	634	$	753
Commercial real estate		3,765		744
Residential real estate		1,684		1,640
Total loans receivable on non-accrual status	$	6,083	$	3,137

Financing Receivable Credit Quality Indicators [Table Text Block]

The following table presents information, excluding net deferred costs, about the Corporation’s loan credit quality at September 30, 2014 and December 31, 2013:

	September 30, 2014
	Pass		Special Mention		Substandard		Doubtful		Total
	(in thousands)
Commercial	$	449,688	$	15,447	$	5,073	$	302	$	470,510
Commercial real estate		1,533,499		17,521		19,834		—		1,570,854
Construction		140,365		—		1,479		—		141,844
Residential real estate		238,516		—		2,871		—		241,387
Consumer		2,534		—		106		—		2,640
Total loans	$	2,364,602	$	32,968	$	29,363	$	302	$	2,427,235

	December 31, 2013
	Pass		Special Mention		Substandard		Doubtful		Total
	(in thousands)
Commercial	$	226,013	$	1,719	$	1,284	$	672	$	229,688
Commercial real estate		509,679		14,544		12,316		—		536,539
Construction		41,492		—		1,230		—		42,722
Residential real estate		147,379		978		2,214		—		150,571
Consumer		964		—		120		—		1,084
Total loans	$	925,527	$	17,241	$	17,164	$	672	$	960,604

Impaired Financing Receivables [Table Text Block]

The following table provides an analysis of the impaired loans, by class, at September 30, 2014 and December 31, 2013:

	September 30, 2014
	Recorded Investment		Unpaid Principal Balance		Related Allowance
	(in thousands)
No Related Allowance Recorded
Commercial	$	890	$	663	$	—
Commercial real estate		5,005		5,654		—
Residential real estate		1,957		2,288		—
Consumer		106		106		—
Total	$	7,958	$	8,711		—
With An Allowance Recorded
Commercial real estate	$	3,600	$	3,600	$	323
Total	$	3,600	$	3,600	$	323
Total
Commercial	$	890	$	663	$	—
Commercial real estate		8,605		9,254		—
Residential real estate		1,957		2,288		—
Consumer		106		106		—
Total	$	11,558	$	12,311	$	323

	December 31, 2013
	Recorded Investment		Unpaid Principal Balance		Related Allowance
	(in thousands)
No Related Allowance Recorded
Commercial	$	449	$	449	$	—
Commercial real estate		10,482		10,783		—
Residential real estate		1,858		2,000		—
Consumer		120		120		—
Total	$	12,909	$	13,352	$	—
With An Allowance Recorded
Commercial	$	672	$	672	$	300
Commercial real estate		4,344		4,344		115
Total	$	5,016	$	5,016	$	415
Total
Commercial	$	1,121	$	1,121	$	300
Commercial real estate		14,826		15,127		115
Residential real estate		1,858		2,000		—
Consumer		120		120		—
Total	$	17,925	$	18,368	$	415

Schedule of Average Balance and Interest Income Recognized on Impaired Loans [Table Text Block]

The following table provides an analysis related to the average recorded investment and interest income recognized on impaired loans by class as of and for the three and nine months ended September 30, 2014 and 2013.

	Three Months Ended September 30,								Nine Months Ended September 30,
	2014				2013				2014				2013
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
Impaired loans with no related allowance recorded:
Commercial	$	897	$	—	$	—	$	—	$	778	$	30	$	—	$	—
Commercial real estate		5,046		31		1,275		19		5,313		74		1,275		57
Residential real estate		1,975		0		—		—		2,044		31		—		—
Consumer		106		2		—		—		106		5		—		—
Total	$	8,024		32	$	1,275	$	19	$	8,241	$	140	$	1,275	$	57
Impaired loans with an allowance recorded:
Commercial	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate		3,600		37		175		—		3,600		122		2,302		68
Residential real estate		—		—		1,226		10		—		—		1,226		31
Consumer		—		—		—				—		—		—		—
Total	$	3,600	$	37	$	1,401	$	10	$	3,600	$	122	$	3,428	$	99
Total impaired loans:
Commercial	$	897	$	—	$	—	$	—	$	778	$	30	$	—	$	—
Commercial real estate		8,646		68		1,450		19		8,913		196		3,477		125
Residential real estate		1,975		0		1,226		10		2,044		31		1,226		31
Consumer		106		2		—		—		106		5		—		—
Total	$	11,624	$	69	$	2,676	$	29		11,841	$	262	$	4,703	$	156

Past Due Financing Receivables [Table Text Block]

The following table provides an analysis of the aging of the recorded investment of loans, excluding net deferred costs that are past due at September 30, 2014 and December 31, 2013 by class:

	September 30, 2014
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Current		Total Loans Receivable		Loans Receivable > 90 Days Past Due and Accruing
	(in thousands)
Commercial	$	405	$	—	$	752	$	1,157	$	469,353	$	470,510	$	—
Commercial real estate		951		2,044		4,020		7,015		1,563,839		1,570,854		—
Construction		—		—		—		—		141,844		141,844		—
Residential real estate		347		1,763		3,403		5,513		235,874		241,387		—
Consumer		17		—		—		17		2,623		2,640
Total	$	1,720	$	3,807	$	8,175	$	13,702	$	2,413,533	$	2,427,235	$	—

	December 31, 2013
	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Current		Total Loans Receivable		Loans Receivable > 90 Days Past Due and Accruing
	(in thousands)
Commercial	$	18	$	—	$	753	$	771	$	228,917	$	229,688	$	—
Commercial Real Estate		221		—		744		965		535,574		536,539		—
Construction		—		—		—		—		42,722		42,722		—
Residential real estate		990		258		1,640		2,888		147,683		150,571		—
Consumer		5		—		—		5		1,079		1,084
Total	$	1,234	$	258	$	3,137	$	4,629	$	955,975	$	960,604	$	—

Schedule of Recorded Investment in Financing Receivables [Table Text Block]

The following table details the amount of loans receivable that are evaluated individually, and collectively, for impairment (excluding net deferred costs), acquired, and the related portion of the allowance for loan loss that is allocated to each loan portfolio class:

	September 30, 2014
	Commercial		Commercial real estate		Construction		Residential real estate		Consumer		Unallocated		Total
	(in thousands)
Allowance for loan and lease losses:
Individually evaluated for impairment	$	—	$	323	$	—	$	—	$	—	$	—	$	323
Collectively evaluated for impairment		2,478		6,699		524		1,052		5		1,037		11,795
Acquired with deteriorated credit quality		—		—		—		—		—		—		—
Total	$	2,478	$	7,022	$	524	$	1,052	$	5	$	1,037	$	12,118
Loans Receivable
Individually evaluated for impairment	$	68	$	5,983	$	—	$	1,733	$	106	$	—	$	7,890
Collectively evaluated for impairment		463,187		1,563,036		141,844		237,391		2,534		—		2,407,992
Acquired with deteriorated credit quality		7,255		1,835		—		2,263		—		—		11,353
Total	$	470,510	$	1,570,854	$	141,844	$	241,387	$	2,640	$	—	$	2,427,235

	December 31, 2013
	Commercial		Commercial real estate		Construction		Residential real estate		Consumer		Unallocated		Total
	(in thousands)
Allowance for loan and lease losses:
Individually evaluated for impairment	$	300	$	115	$	—	$	—	$	—	$	—	$	415
Collectively evaluated for impairment		1,398		5,631		362		990		146		1,391		9,918
Total	$	1,698	$	5,746	$	362	$	990	$	146	$	1,391	$	10,333
Loans Receivable
Individually evaluated for impairment	$	1,121	$	14,826	$	—	$	1,858	$	120	$	—	$	17,925
Collectively evaluated for impairment		228,567		521,713		42,722		148,713		964		—		942,679
Total	$	229,688	$	536,539	$	42,722	$	150,571	$	1,084	$	—	$	960,604

Allowance for Credit Losses on Financing Receivables [Table Text Block]

A summary of the activity in the allowance for loan losses is as follows:

	Three Months Ended September 30, 2014
	Commercial		Commercial real estate		Construction		Residential real estate		Consumer			Unallocated			Total
	(in thousands)
Balance at July 1,	$	2,142	$	5,741	$	504	$	1,011	$	63		$	1,364		$	10,825
Charge offs		—		—		—		—		(18	)		—			(18	)
Recoveries		—		—		—		—		11			—			11
Provision		336		1,281		20		41		(51	)		(327	)		1,300
Balance at September 30,	$	2,478	$	7,022	$	524	$	1,052	$	5		$	1,037		$	12,118

	Nine Months Ended September 30, 2014
	Commercial			Commercial real estate		Construction		Residential real estate			Consumer			Unallocated			Total
	(in thousands)
Balance at January 1,	$	1,698		$	5,746	$	362	$	990		$	146		$	1,391		$	10,333
Charge offs		(333	)		—		—		(108	)		(7	)		—			(448	)
Recoveries		—			—		—		11			13			—			24
Provision		1,113			1,276		162		159			(147	)		(354	)		2,209
Balance at September 30,	$	2,478		$	7,022	$	524	$	1,052		$	5		$	1,037		$	12,118

	Three Months Ended September 30, 2013
	Commercial			Commercial real estate		Construction		Residential real estate			Consumer			Unallocated		Total
	(in thousands)
Balance at July 1,	$	2,422		$	5,333	$	318	$	1,341		$	29		$	759	$	10,202
Charge offs		(6	)		—		—		—			(4	)		—		(10	)
Recoveries		—			—		—		—			2			—		2
Provision		(702	)		455		51		(37	)		67			166		—
Balance at September 30,	$	1,714		$	5,788	$	369	$	1,304		$	94		$	925	$	10,194

	Nine Months Ended September 30, 2013
	Commercial			Commercial real estate			Construction		Residential real estate			Consumer			Unallocated		Total
	(in thousands)
Balance at January 1,	$	2,424		$	5,323		$	313	$	1,532		$	113		$	532	$	10,237
Charge offs		(6	)		(50	)		—		—			(20	)		—		(76	)
Recoveries		21			8			—		—			4			—		33
Provision		(725	)		507			56		(228	)		(3	)		393		—
Balance at September 30,	$	1,714		$	5,788		$	369	$	1,304		$	94		$	925	$	10,194

Schedule of Debtor Troubled Debt Restructuring, Current Period [Table Text Block]

The following table presents loans by class modified as troubled debt restructurings that occurred during the nine months ended September 30, 2014 (dollars in thousands):

			Pre-Modification		Post-Modification
			Outstanding		Outstanding
	Number of		Recorded		Recorded
	Loans		Investment		Investment
Troubled debt restructurings:
Commercial		1	$	672	$	315
Commercial real estate		1		136		93
Construction		—		—		—
Residential real estate		2		275		273
Total		4	$	1,083	$	681