Shareholders' Equity

12 Months Ended

Dec. 31, 2014

Shareholders' Equity [Abstract]

Shareholders' Equity

Note 13: Shareholders' Equity

Regulatory Capital Requirements: The Company and Bank are subject to various regulatory capital requirements administered by the federal 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 Companys financial statements. Under capital adequacy guidelines and the regulatory frameworks for prompt corrective action, the Company and Bank must meet specific capital guidelines that involve quantitative measures of the Companys and Banks assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Companys and Banks capital amounts and classification are also subject to qualitative judgment by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Company and Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier I capital to risk-weighted assets and average assets. As of December 31, 2014, the Company and the Bank exceeded all capital adequacy requirements to which they are subject. As of December 31, 2014, the most recent notification from the federal regulators categorized the Bank as well-capitalized. To be categorized as well-capitalized, the Company and Bank must maintain minimum Total risk-based, Tier I risk-based, and Tier I leverage ratios as set forth in the following table. There are no conditions or events since that notification that management believes have changed the Banks or the Companys category.

The following table sets forth the Company's and the Bank's regulatory capital at December 31, 2014, under the rules applicable at that date.

										To be well
										Capitalized under
						For Capital				Prompt corrective
		Consolidated				Adequacy Purposes				Action provisions
		Actual				Required				Required
As of December 31, 2014		Amount	Ratio			Amount	Ratio			Amount	Ratio
Total Capital
(To Risk-Weighted Assets)
Consolidated	$	148,188	17.24	%	$	68,766	8.0	%		N/A
Bank	$	149,546	17.42	%	$	68,697	8.0	%	$	85,871	10.0	%
Tier 1 Capital
(To Risk-Weighted Assets)
Consolidated	$	134,099	15.60	%	$	34,383	4.0	%		N/A
Bank	$	135,457	15.77	%	$	34,348	4.0	%	$	51,522	6.0	%
Tier 1 Capital
(To Average Assets)
Consolidated	$	134,099	9.30	%	$	57,689	4.0	%		N/A
Bank	$	135,457	9.40	%	$	57,656	4.0	%	$	72,070	5.0	%

The following table sets forth the Companys and the Banks regulatory capital at December 31, 2013, under the rules applicable at that date.

										To be well
										Capitalized Under
						For Capital				Prompt Corrective
		Consolidated				Adequacy Purposes				Action Provisions
		Actual				Required				Required
As of December 31, 2013		Amount	Ratio			Amount	Ratio			Amount	Ratio
Total Capital
(To Risk-Weighted Assets)
Consolidated	$	137,311	16.62	%	$	66,106	8.00	%		N/A
Bank	$	138,761	16.81	%	$	66,041	8.00	%	$	82,551	10.00	%
Tier 1 Capital
(To Risk-Weighted Assets)
Consolidated	$	123,730	14.97	%	$	33,053	4.00	%		N/A
Bank	$	125,180	15.16	%	$	33,020	4.00	%	$	49,531	6.00	%
Tier 1 Capital
(To Average Assets)
Consolidated	$	123,730	9.01	%	$	54,954	4.00	%		N/A
Bank	$	125,180	9.12	%	$	54,923	4.00	%	$	68,653	5.00	%

Dividend Limitations: Dividends paid by the Bank are the primary source of funds available to the Company for payment of dividends to its shareholders. The Bank is subject to certain requirements imposed by federal banking laws and regulations. These requirements, among other things, establish minimum levels of capital and restrict the amount of dividends that may be distributed by the Bank to the Company. At December 31, 2014, the Bank had $63,387 available for dividends that could be paid without prior regulatory approval.

Stock Repurchase Plan: In August 2008, the Companys Board of Directors approved a program to repurchase up to 450,000 shares of the Companys common stock, or approximately 10.2% of the shares then currently outstanding. The stock repurchase program became effective as of August 21, 2008, and was authorized to continue for a period of up to twenty-four consecutive months. In August of 2010, the Companys Board of Directors authorized the continuance of this program through August 17, 2012. In August of 2012, the Companys Board of Directors authorized the continuance of this program through August 17, 2014. In July of 2014, the Companys Board of Directors authorized the continuance of this program through August 17, 2016. Depending on market conditions and other factors, these purchases may be commenced or suspended at any time, or from time to time, without prior notice and may be made in the open market or through privately negotiated transactions.

As of December 31, 2014, the Company had repurchased 157,757 shares of stock under this plan, at a total cost of $2,945 and an average price of $18.67 per share. During 2014, the Company repurchased 327 shares under the plan. The Company records repurchased shares as treasury stock.