2013 Q2 Form 10-Q Financial Statement

#000119312513329012 Filed on August 09, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $11.03M $11.76M
YoY Change -6.23% -2.39%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $1.244M $1.611M
YoY Change -22.78%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $1.966M $1.138M
YoY Change 72.76% 127.6%
Income Tax $309.0K $202.0K
% Of Pretax Income 15.72% 17.75%
Net Earnings $1.657M $936.0K
YoY Change 77.03% 78.97%
Net Earnings / Revenue 15.03% 7.96%
Basic Earnings Per Share $0.18 $0.08
Diluted Earnings Per Share $0.18 $0.08
COMMON SHARES
Basic Shares Outstanding 7.708M shares 7.708M shares
Diluted Shares Outstanding 7.708M shares 7.708M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $16.88M $17.60M
YoY Change -4.09% -3.3%
Goodwill $21.72M
YoY Change
Intangibles $2.715M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.143B $1.109B
YoY Change 3.05% 1.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $13.80M $12.20M
YoY Change 13.11% 45.24%
Deferred Revenue
YoY Change
Short-Term Debt $19.40M $16.10M
YoY Change 20.5% -22.6%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.80M $12.20M
YoY Change 13.11% 45.24%
LONG-TERM LIABILITIES
Long-Term Debt $29.40M $29.40M
YoY Change 0.0% 0.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $29.40M $29.40M
YoY Change 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.80M $12.20M
Total Long-Term Liabilities $29.40M $29.40M
Total Liabilities $1.041B $1.005B
YoY Change 3.56% 1.62%
SHAREHOLDERS EQUITY
Retained Earnings -$12.54M
YoY Change
Common Stock $114.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $17.24M
YoY Change
Treasury Stock Shares 748.0K shares
Shareholders Equity $102.2M $104.1M
YoY Change
Total Liabilities & Shareholders Equity $1.143B $1.109B
YoY Change 3.05% 1.86%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $1.657M $936.0K
YoY Change 77.03% 78.97%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $5.160M $5.060M
YoY Change 1.98% 154.27%
INVESTING ACTIVITIES
Capital Expenditures -$270.0K -$420.0K
YoY Change -35.71% -28.81%
Acquisitions
YoY Change
Other Investing Activities -$4.410M -$11.33M
YoY Change -61.08% -51.37%
Cash From Investing Activities -$4.670M -$11.75M
YoY Change -60.26% -50.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -28.88M -26.05M
YoY Change 10.86% -12.23%
NET CHANGE
Cash From Operating Activities 5.160M 5.060M
Cash From Investing Activities -4.670M -11.75M
Cash From Financing Activities -28.88M -26.05M
Net Change In Cash -28.39M -32.74M
YoY Change -13.29% -36.54%
FREE CASH FLOW
Cash From Operating Activities $5.160M $5.060M
Capital Expenditures -$270.0K -$420.0K
Free Cash Flow $5.430M $5.480M
YoY Change -0.91% 112.4%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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19208000
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9304000
CY2012Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
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789463000
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659229000
CY2012Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
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815553000
CY2012Q4 us-gaap Bank Owned Life Insurance
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18590000
CY2012Q4 us-gaap Other Marketable Securities Current
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15567000
CY2012Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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468000
CY2012Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
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18552000
CY2012Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
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33435000
CY2012Q4 us-gaap Financing Receivable Recorded Investment Equal To Greater Than90 Days Past Due
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16319000
CY2012Q4 us-gaap Treasury Stock Value
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17235000
CY2012Q4 us-gaap Property Plant And Equipment Net
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17166000
CY2012Q4 fcza Concentration Risk Credit Risk Financial Instruments Off Balance Sheet Risk Asset At Fixed Rate
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9723000
CY2012Q4 fcza Impaired Financing Receivable With And No Related Allowance
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4006000
CY2012Q4 fcza Concentration Risk Credit Risk Financial Instruments Off Balance Sheet Risk Asset At Variable Rate
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138304000
CY2012Q4 fcza Performing Loans
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156305000
CY2012Q4 fcza Impaired Financing Receivable With No Related Allowance
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815553000
CY2012Q4 fcza Loan Balances Outstanding Evaluated For Impairment
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815553000
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19000
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13695000
CY2012Q4 fcza Performing And Nonperforming Loans
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156324000
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312000
CY2012Q4 fcza Available For Sale Securities Gross Unrealized Loss Accumulated In Investments
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312000
CY2012Q4 fcza Available For Sale Securities Gross Unrealized Gain Accumulated In Investments
AvailableForSaleSecuritiesGrossUnrealizedGainAccumulatedInInvestments
9175000
CY2012Q4 fcza Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Aggregate Losses Accumulated In Investments
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292000
CY2012Q4 fcza Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Aggregate Losses Accumulated In Investments
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerAggregateLossesAccumulatedInInvestments
20000
dei Entity Registrant Name
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FIRST CITIZENS BANC CORP /OH
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Entity Central Index Key
EntityCentralIndexKey
0000944745
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
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10000 shares
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7707917 shares
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shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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us-gaap Earnings Per Share Basic
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0.39
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7707917 shares
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7926000
us-gaap Earnings Per Share Basic And Diluted
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0.39
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shares
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7707917 shares
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<div> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 8%"> <font style="FONT-FAMILY: Times New Roman" size="2"><u>Reclassifications:</u> Some items in the prior year financial statements were reclassified to conform to the current presentation.</font></p> </div>
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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us-gaap Common Stock Dividends Per Share Cash Paid
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<div> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 8%"> <font style="FONT-FAMILY: Times New Roman" size="2"><u>Use of Estimates</u>: To prepare financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in financial statements and the disclosures provided, and future results could differ. The allowance for loan losses, impairment of goodwill, fair values of financial instruments, deferred taxes and pension obligations are particularly subject to change.</font></p> </div>
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments And Tax
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58000
us-gaap Interest Income Expense Net
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19768000
us-gaap Interest Income Expense After Provision For Loan Loss
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18968000
us-gaap Comprehensive Income Net Of Tax
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us-gaap Available For Sale Securities Gross Realized Gains
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144000
us-gaap Payments To Acquire Available For Sale Securities
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43116000
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2990000
us-gaap Interest Income Securities Taxable
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1925000
us-gaap Income Taxes Paid
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1010000
us-gaap Net Income Loss Available To Common Stockholders Diluted
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2990000
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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729000
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7758000
us-gaap Payments To Acquire Federal Reserve Stock
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us-gaap Fees And Commissions Fiduciary And Trust Activities
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1228000
us-gaap Interest Paid
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2559000
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4461000
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
22311000
us-gaap Impaired Financing Receivable Interest Income Accrual Method
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820000
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
19250000
us-gaap Net Income Loss
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3570000
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us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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1119000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
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us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
1341000
us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
1058000
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OtherComprehensiveIncomeLossNetOfTax
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us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
291000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
4149000
us-gaap Servicing Fees Net
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2032000
us-gaap Gain Loss On Sale Of Securities Net
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58000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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20000
us-gaap Noninterest Income
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6047000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
468000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
429000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
4187000
us-gaap Increase Decrease In Federal Funds Purchased And Securities Sold Under Agreements To Repurchase Net
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us-gaap Interest Expense Other
InterestExpenseOther
11000
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11816000
us-gaap Noninterest Expense
NoninterestExpense
20554000
us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
525000
us-gaap Taxes Other
TaxesOther
564000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-223000
us-gaap Net Cash Provided By Used In Financing Activities
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6882000
us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
125000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1866000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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185000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
us-gaap Other Noninterest Expense
OtherNoninterestExpense
3542000
us-gaap Equipment Expense
EquipmentExpense
567000
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DividendsCommonStockCash
539000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax
-338000
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881000
us-gaap Provision For Doubtful Accounts
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800000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
15973000
us-gaap Marketing Expense
MarketingExpense
385000
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
800000
us-gaap Defined Benefit Plans Estimated Future Employer Contributions In Next Fiscal Year
DefinedBenefitPlansEstimatedFutureEmployerContributionsInNextFiscalYear
1900000
us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
383000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
7758000
us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Short Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm
690000
us-gaap Interest Expense
InterestExpense
2543000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
2137000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
118000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
428000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
24807000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1165000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-223000
us-gaap Defined Benefit Plan Effect Of One Percentage Point Increase On Service And Interest Cost Components
DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents
338000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
583000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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32277000
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FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
66000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
338000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
891000
fcza Financing Receivable Number Of Contracts
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125000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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38000
us-gaap Available For Sale Securities Gross Realized Losses
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89000
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
580000
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
546000
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1459000
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424000
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us-gaap Occupancy Net
OccupancyNet
1164000
us-gaap Professional Fees
ProfessionalFees
1433000
us-gaap Dividends Cash
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308000
us-gaap Proceeds From Sale Of Federal Reserve Stock
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27000
us-gaap Proceeds From Sale Of Other Real Estate
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370000
us-gaap Labor And Related Expense
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58000
fcza Dilutive Securities Included In Computation Of Earnings Per Share Amount
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0 shares
fcza Liquidation Preference Rate After Five Years
LiquidationPreferenceRateAfterFiveYears
0.09 pure
fcza Percentage Of Insurance Commission Revenue Of Revenue
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fcza Automated Teller Machine Expense
AutomatedTellerMachineExpense
316000
fcza Other Comprehensive Income Before Reclassification Adjustments Net Of Tax
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-4149000
fcza Number Of Defaults On Loans
NumberOfDefaultsOnLoans
2
fcza Number Of Days Past Due For Loans To Be Considered As Nonperforming
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P90D
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MaturityDaysOfCarryingAmountsForCashAndDueFromFinancialInstitutions
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fcza Discount Rate Is Estimated Using Current Rate For Mortgage Matched Secured Borrowing Period From Fhlb
DiscountRateIsEstimatedUsingCurrentRateForMortgageMatchedSecuredBorrowingPeriodFromFhlb
P30Y
fcza Computer Center Data Processing Fees
ComputerCenterDataProcessingFees
125000
fcza Automated Teller Machine Fees
AutomatedTellerMachineFees
972000
fcza Liquidation Preference Rate For First Five Years
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90 days or less
fcza Transfer Of Loans From Portfolio To Other Real Estate Owned
TransferOfLoansFromPortfolioToOtherRealEstateOwned
187000
fcza Federal Funds Sold And Other
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78000
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P60D
fcza Borrowers Sustained Repayment Performance Period
BorrowersSustainedRepaymentPerformancePeriod
P6M
fcza Term Of Warrants
TermOfWarrants
P10Y
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17000
fcza Number Of Days Delinquency After Which Loans Are Considered Nonaccrual
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P90D
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1842000
fcza Credit Commitments Maturities Period
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P30Y
fcza Maximum Period To Commit Loan
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P1Y
fcza Period For Calculating Loss Percentages For All Portfolio Segments
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P3Y
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3000
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shares
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us-gaap Earnings Per Share Basic
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7707917 shares
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us-gaap Earnings Per Share Basic And Diluted
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0.21
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7707917 shares
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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shares
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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shares
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
20590000
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
16725000
us-gaap Comprehensive Income Net Of Tax
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2729000
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99000
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PaymentsToAcquireAvailableForSaleSecurities
59169000
us-gaap Net Income Loss Available To Common Stockholders Basic
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1641000
us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
2488000
us-gaap Income Taxes Paid
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300000
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1641000
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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565000
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12982000
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617000
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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2828000
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23875000
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1130000
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20437000
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2229000
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1042000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
1168000
us-gaap Interest Income Securities Tax Exempt
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886000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
500000
us-gaap Bank Owned Life Insurance Income
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324000
us-gaap Servicing Fees Net
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2135000
us-gaap Gain Loss On Sale Of Securities Net
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40000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
14000
us-gaap Noninterest Income
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5761000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
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