Note 14 - Shareholders' Equity

9 Months Ended

Sep. 30, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

14. Shareholders’ Equity

Common Shares

At September 30, 2014, the Company had 75,000,000 authorized shares of common stock of which 12,793,543 were issued and outstanding. As of October 24, 2014, the Company has reserved a total of 196,916 shares for future issuance under various equity incentive plans.

For disclosure regarding actual and potential share issuances under the Company’s equity award plans, see Note 17, Equity-Based Compensation.

Accumulated Other Comprehensive Loss

The following table summarizes the components of accumulated other comprehensive loss, net of tax at the dates indicated (in thousands).

	September 30,			December 31,
	2014			2013
Net unrealized loss on investment securities available for sale	$	(1,460	)	$	(2,990	)
Net unrealized defined benefit pension plan actuarial loss		(7,303	)		(7,303	)
Total accumulated other comprehensive loss, net of tax	$	(8,763	)	$	(10,293	)

Authorized Preferred Shares

The Company has authorized for issuance 2,500,000 shares of preferred stock with such preferences, limitations and relative rights within legal limits of the class, or one or more series within the class, as are set by the Board of Directors. To date, the Company has not issued any preferred shares.

Cash Dividends

Dividends from the Bank are the Company’s primary source of funds for payment of dividends to its common shareholders. During the three and nine months ended September 30, 2014, the Company declared dividends on its common stock as follows:

Declaration date	Record date	Payment date	Cash dividend per share
7/17/2014	8/7/2014	8/18/2014	$	0.05

The dividends payable to shareholders were funded by dividends paid to the Company by the Bank.

In October 2014, the Company declared a cash dividend of $0.05 per common share payable in November 2014.