2013 Form 10-K Financial Statement

#000119312514068888 Filed on February 26, 2014

View on sec.gov

Income Statement

Concept 2013 2012 Q4 2012 Q3
Revenue $31.43M $7.994M $8.278M
YoY Change -5.55%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.559M $1.240M
YoY Change 8.81%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.200M $550.0K $570.0K
YoY Change 0.0% 7.84% 35.71%
% of Gross Profit
Operating Expenses $5.559M $1.240M
YoY Change 8.81%
Operating Profit
YoY Change
Interest Expense $4.604M $1.441M $1.532M
YoY Change -26.34%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $12.60M $3.532M $3.388M
YoY Change -7.95% -11.48% 21.0%
Income Tax $3.596M $1.007M $947.0K
% Of Pretax Income 28.53% 28.51% 27.95%
Net Earnings $9.007M $2.525M $2.441M
YoY Change -7.98% -12.63% 17.36%
Net Earnings / Revenue 28.66% 31.59% 29.49%
Basic Earnings Per Share $1.93 $0.54 $0.52
Diluted Earnings Per Share $963.6K $269.7K $260.4K
COMMON SHARES
Basic Shares Outstanding 4.646M shares 4.688B shares 4.686B shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $44.09M $29.63M
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 $18.70M $17.60M $16.70M
YoY Change 6.25% 3.52% -1.76%
Goodwill $4.074M
YoY Change
Intangibles
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 $965.9M $946.7M $921.0M
YoY Change 2.03% 2.56% 1.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $5.600M $9.300M $8.700M
YoY Change -39.78% 9.41% 1.16%
Deferred Revenue
YoY Change
Short-Term Debt $69.80M $51.30M $54.80M
YoY Change 36.06% -2.1% 3.01%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.600M $10.20M $9.600M
YoY Change -35.29% 8.51% 1.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.600M $10.20M $9.600M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $857.3M $836.4M $811.0M
YoY Change 2.5% 2.26% 0.87%
SHAREHOLDERS EQUITY
Retained Earnings $102.6M
YoY Change
Common Stock $12.68M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.59M
YoY Change
Treasury Stock Shares 515.9K shares
Shareholders Equity $108.6M $110.5M $110.0M
YoY Change
Total Liabilities & Shareholders Equity $965.9M $946.7M $921.0M
YoY Change 2.03% 2.56% 1.47%

Cashflow Statement

Concept 2013 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income $9.007M $2.525M $2.441M
YoY Change -7.98% -12.63% 17.36%
Depreciation, Depletion And Amortization $1.200M $550.0K $570.0K
YoY Change 0.0% 7.84% 35.71%
Cash From Operating Activities $16.99M $990.0K -$440.0K
YoY Change 19.55% -64.0% -110.71%
INVESTING ACTIVITIES
Capital Expenditures $2.063M -$1.170M -$120.0K
YoY Change 16.29% 485.0% 0.0%
Acquisitions -$15.22M
YoY Change
Other Investing Activities -$29.89M -$9.190M $9.450M
YoY Change 21.11% -14.99% -42.69%
Cash From Investing Activities -$31.96M -$10.37M $9.340M
YoY Change 20.8% -5.81% -42.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.236M
YoY Change 38.26%
Debt Paid & Issued, Net $7.100M
YoY Change 40.26%
Cash From Financing Activities -9.865M 23.84M -20.96M
YoY Change -174.8% 83.38% 345.96%
NET CHANGE
Cash From Operating Activities 16.99M 990.0K -440.0K
Cash From Investing Activities -31.96M -10.37M 9.340M
Cash From Financing Activities -9.865M 23.84M -20.96M
Net Change In Cash -24.83M 14.46M -12.06M
YoY Change -2716.33% 205.06% -176.43%
FREE CASH FLOW
Cash From Operating Activities $16.99M $990.0K -$440.0K
Capital Expenditures $2.063M -$1.170M -$120.0K
Free Cash Flow $14.93M $2.160M -$320.0K
YoY Change 20.02% -26.78% -107.57%

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29500000
CY2013Q4 us-gaap Impaired Financing Receivable Related Allowance
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CY2013Q4 us-gaap Deposits
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CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
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107910000
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4130000
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CY2013Q4 us-gaap Deposits Savings Deposits
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214467000
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702000
CY2013Q4 us-gaap Liabilities And Stockholders Equity
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965938000
CY2013Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized
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CY2013Q4 us-gaap Securities Sold Under Agreements To Repurchase
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CY2013Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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4841000
CY2013Q4 us-gaap Capital
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107752000
CY2013Q4 us-gaap Liabilities
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CY2013Q4 us-gaap Deposits Negotiable Order Of Withdrawal Now
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4500000
CY2013Q4 us-gaap Tier One Risk Based Capital
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CY2013Q4 us-gaap Time Deposit Maturities After Year Five
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1388000
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Long Term Debt
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0
CY2013Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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3329000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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8892000
CY2013Q4 us-gaap Cash And Due From Banks
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18265000
CY2013Q4 us-gaap Common Stock Issued Employee Trust Deferred
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642000
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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330000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Amortized Cost
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279862000
CY2013Q4 us-gaap Goodwill
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4074000
CY2013Q4 us-gaap Federal Funds Sold
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998000
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230000
CY2013Q4 us-gaap Available For Sale Securities Amortized Cost
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324500000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
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8774000
CY2013Q4 us-gaap Loans And Leases Receivable Net Reported Amount
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570919000
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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480000
CY2013Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
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1516000
CY2013Q4 us-gaap Other Real Estate
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2100000
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2554000
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167000
CY2013Q4 us-gaap Assets
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965938000
CY2013Q4 us-gaap Financing Receivable Acquired With Deteriorated Credit Quality
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540000
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4598000
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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19263000
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44792000
CY2013Q4 us-gaap Financing Receivable Recorded Investment30 To59 Days Past Due
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806000
CY2013Q4 us-gaap Financing Receivable Recorded Investment Past Due
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1441000
CY2013Q4 us-gaap Loans Receivable Held For Sale Net
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556000
CY2013Q4 us-gaap Financing Receivable Recorded Investment60 To89 Days Past Due
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2000
CY2013Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
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9525000
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322000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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174132000
CY2013Q4 us-gaap Property Plant And Equipment Gross
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35988000
CY2013Q4 us-gaap Servicing Asset At Amortized Value
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2066000
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
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204000
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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164278000
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1865000
CY2013Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
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924000
CY2013Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
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2440000
CY2013Q4 us-gaap Cash Cash Equivalents And Federal Funds Sold
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19263000
CY2013Q4 us-gaap Pledged Financial Instruments Not Separately Reported Securities Pledged
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205200000
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
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-16386000
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574672000
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173008000
CY2013Q4 us-gaap Available For Sale Securities
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324509000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
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8456000
CY2013Q4 us-gaap Reporting Unit Amount Of Fair Value In Excess Of Carrying Amount
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19000000
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
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13114000
CY2013Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
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87168000
CY2013Q4 us-gaap Impaired Financing Receivable Recorded Investment
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2440000
CY2013Q4 us-gaap Other Assets
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20091000
CY2013Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
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573673000
CY2013Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
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576343000
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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322000
CY2013Q4 us-gaap Available For Sale Securities Debt Securities
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324509000
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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244000
CY2013Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
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1766000
CY2013Q4 us-gaap Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements
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74700000
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788000
CY2013Q4 us-gaap Financing Receivable Recorded Investment Equal To Greater Than90 Days Past Due
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633000
CY2013Q4 us-gaap Treasury Stock Value
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11611000
CY2013Q4 us-gaap Real Estate Acquired Through Foreclosure
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2091000
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89624000
CY2013Q4 us-gaap Property Plant And Equipment Net
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18709000
CY2013Q4 fmao Available For Sale Securities Debt Maturities Fair Value Including Mortgage Backed Securities
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324509000
CY2013Q4 fmao Allowance For Unfunded Loan Commitments And Letters Of Credit
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163000
CY2013Q4 fmao Deferred Tax Liabilities Fhlb Stock Dividends
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859000
CY2013Q4 fmao Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deposit Liabilities
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17000
CY2013Q4 fmao Loans After Net Deferred Loan Fees And Costs
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576113000
CY2013Q4 fmao Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Assets
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1000
CY2013Q4 fmao Loans Included In Purchase
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11400000
CY2013Q4 fmao Impaired Loans Classified As Troubled Debt Restructured
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861200
CY2013Q4 fmao Financing Receivable Allowance For Credit Losses Acquired With Deteriorated Credit Quality Ending Period
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1000
CY2013Q4 fmao Deferred Tax Liabilities Accreted Discounts On Bonds
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73000
CY2013Q4 fmao Recognition Of Core Deposit Intangible Asset With Acquired Purchase
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2260000
CY2013Q4 fmao Capitalized Service Right Assets Fair Market Value
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2800000
CY2013Q4 fmao Federal Home Loan Bank Advances Maturities Summary Due From One To Three Years Of Balance Sheet Date
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CY2013Q4 fmao Maturity Schedule By Major Category Of Loans After Five Years
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223632000
CY2013Q4 fmao Deferred Tax Liabilities Net Unrealized Gain On Available For Sale Securities
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3000
CY2013Q4 fmao Reserve Federal Reserve Bank
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6500000
CY2013Q4 fmao Financing Receivables Current And Past Due
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576113000
CY2013Q4 fmao Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities Other
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17000
CY2013Q4 fmao Loans Serviced For Others Unpaid Principal Amount
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282000000
CY2013Q4 fmao Other Securities
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4216000
CY2013Q4 fmao Financing Receivables
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576113000
CY2013Q4 fmao Mortgage Backed Securities Available For Sale Amortized Cost
MortgageBackedSecuritiesAvailableForSaleAmortizedCost
44638000
CY2013Q4 fmao Residential Mortgage Loan
ResidentialMortgageLoan
24300000
CY2013Q4 fmao Available For Sale Securities Debt Maturities Amortized Cost Including Mortgage Backed Securities
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324500000
CY2013Q4 fmao Maturity Schedule By Major Category Of Loans After One Year
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203865000
CY2013Q4 fmao Maturity Schedule By Major Category Of Loans Within One Year
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148846000
CY2013Q4 fmao Capitalized Service Right Assets Included In Other Assets
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2100000
CY2013Q4 fmao Unearned Stock Awards Shares
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31890 shares
CY2013Q4 fmao Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses Accumulated In Investments
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-4611000
CY2013Q4 fmao Available For Sale Securities Gross Unrealized Loss Accumulated In Investments
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5014000
CY2013Q4 fmao Available For Sale Securities Gross Unrealized Gain Accumulated In Investments
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5023000
CY2013Q4 fmao Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Aggregate Losses Accumulated In Investments
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-403000
CY2013Q4 fmao Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Premises And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPremisesAndEquipment
271000
CY2013Q4 fmao Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loans
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11436000
CY2013Q4 fmao Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deposits
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeposits
29466000
CY2013Q4 fmao Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accrued Interest Receivable
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31000
CY2013Q4 fmao Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Core Deposit Intangible Asset
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCoreDepositIntangibleAsset
1171000
CY2010Q1 fmao Percentage Of Delinquent Loan
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0.0285 pure
CY2011 us-gaap Common Stock Dividends Per Share Declared
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0.76
CY2011 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
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11000 shares
CY2011 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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4689021 shares
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
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15203000
CY2011 us-gaap Earnings Per Share Basic And Diluted
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1.82
CY2011 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
778 shares
CY2011 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
185000
CY2011 us-gaap Interest Income Expense Net
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28504000
CY2011 us-gaap Interest Income Expense After Provision For Loan Loss
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26789000
CY2011 us-gaap Comprehensive Income Net Of Tax
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14357000
CY2011 us-gaap Available For Sale Securities Gross Realized Gains
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504000
CY2011 us-gaap Payments To Acquire Available For Sale Securities
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117744000
CY2011 us-gaap Payments Of Dividends Common Stock
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3567000
CY2011 us-gaap Interest Income Federal Funds Sold
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19000
CY2011 us-gaap Income Tax Reconciliation Tax Exempt Income
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689000
CY2011 us-gaap Repayments Of Long Term Debt
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13212000
CY2011 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent
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8853000
CY2011 us-gaap Income Taxes Paid
IncomeTaxesPaid
1850000
CY2011 us-gaap Gain Loss On Sale Of Other Assets
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-1169000
CY2011 us-gaap Interest Income Securities Us Treasury And Other Us Government
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4457000
CY2011 us-gaap Transfer Of Other Real Estate
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2236000
CY2011 us-gaap Other Interest And Dividend Income
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52000
CY2011 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
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351000
CY2011 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
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504000
CY2011 us-gaap Payments For Origination And Purchases Of Loans Held For Sale
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52853000
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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9357000
CY2011 us-gaap Stock Granted During Period Value Sharebased Compensation
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202000
CY2011 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
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1175000
CY2011 us-gaap Interest Paid
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8285000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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11407000
CY2011 us-gaap Interest And Dividend Income Operating
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36660000
CY2011 us-gaap Impaired Financing Receivable Interest Income Accrual Method
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1230000
CY2011 us-gaap Gains Losses On Sales Of Assets
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30300000
CY2011 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
29840000
CY2011 us-gaap Increase Decrease In Other Operating Capital Net
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162000
CY2011 us-gaap Net Income Loss
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8514000
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CY2011 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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2000
CY2011 us-gaap Accretion Amortization Of Discounts And Premiums Investments
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-2902000
CY2011 us-gaap Servicing Fees Net
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3313000
CY2011 us-gaap Gain Loss On Sales Of Loans Net
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807000
CY2011 us-gaap Fees And Commissions
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3385000
CY2011 us-gaap Held To Maturity Securities Sold Security Realized Gain Loss
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504000
CY2011 us-gaap Payments For Repurchase Of Common Stock
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310000
CY2011 us-gaap Noninterest Income
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6840000
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
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947000
CY2011 us-gaap Interest Income Securities State And Municipal
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2107000
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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5843000
CY2011 us-gaap Increase Decrease In Federal Funds Purchased And Securities Sold Under Agreements To Repurchase Net
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1199000
CY2011 us-gaap Increase Decrease In Deposits
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14869000
CY2011 us-gaap Noninterest Expense
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22222000
CY2011 us-gaap Depreciation Nonproduction
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1135000
CY2011 us-gaap Information Technology And Data Processing
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978000
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
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CY2011 us-gaap Proceeds From Sale Of Loans Held For Sale
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53631000
CY2011 us-gaap Deferred Income Tax Expense Benefit
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CY2011 us-gaap Provision For Loan And Lease Losses
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1715000
CY2011 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
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3010000
CY2011 us-gaap Treasury Stock Value Acquired Cost Method
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310000
CY2011 us-gaap Equipment Expense
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1379000
CY2011 us-gaap Dividends Common Stock Cash
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3563000
CY2011 us-gaap Interest Expense Borrowings
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883000
CY2011 us-gaap Income Tax Reconciliation Prior Year Income Taxes
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-296000
CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
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-236000
CY2011 us-gaap Employee Benefits And Share Based Compensation
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2835000
CY2011 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
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498000
CY2011 us-gaap Proceeds From Sale Of Available For Sale Securities
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30376000
CY2011 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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680000
CY2011 us-gaap Interest Expense
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8156000
CY2011 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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3878000
CY2011 us-gaap Proceeds From Sale Of Property Plant And Equipment
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1970000
CY2011 us-gaap Deferred Federal Income Tax Expense Benefit
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-165000
CY2011 us-gaap Impaired Financing Receivable Average Recorded Investment
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5466000
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
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CY2011 us-gaap Allowance For Loan And Lease Losses Write Offs
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2681000
CY2011 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
762000
CY2011 us-gaap Interest Expense Deposits
InterestExpenseDeposits
6980000
CY2011 us-gaap Interest Expense Federal Funds Purchased And Securities Sold Under Agreements To Repurchase
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293000
CY2011 us-gaap Amortization Of Intangible Assets
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312000
CY2011 us-gaap Occupancy Net
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1501000
CY2011 us-gaap Depreciation
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1100000
CY2011 us-gaap Allocated Share Based Compensation Expense
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182000
CY2011 us-gaap Taxes Excluding Income And Excise Taxes
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892000
CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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504000
CY2011 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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53661000
CY2011 us-gaap Current Federal Tax Expense Benefit
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CY2013 dei Trading Symbol
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FMAO
CY2013 dei Entity Registrant Name
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FARMERS & MERCHANTS BANCORP INC
CY2013 dei Entity Current Reporting Status
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Yes
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CY2013 dei Entity Filer Category
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Accelerated Filer
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CY2013 dei Document Type
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10-K
CY2013 dei Document Period End Date
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2013-12-31
CY2013 dei Entity Central Index Key
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CY2013 dei Entity Voluntary Filers
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CY2013 us-gaap Prior Period Reclassification Adjustment Description
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 8%; MARGIN-TOP: 18pt"> <b>Reclassification</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 8%; MARGIN-TOP: 6pt"> Certain amounts in the 2012 and 2011 consolidated financial statements have been reclassified to conform with the 2013 presentation.</p> </div>
CY2013 us-gaap Use Of Estimates
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 8%; MARGIN-TOP: 18pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 8%; MARGIN-TOP: 6pt"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses and the valuation of mortgage servicing rights, goodwill, available for sale investment securities, other real estate owned and impaired loans. Actual results could differ from those estimates.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 8%; MARGIN-TOP: 6pt"> The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions. In connection with the determination of the estimated losses on loans, management obtains independent appraisals for significant collateral.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 8%; MARGIN-TOP: 6pt"> The Bank&#x2019;s loans are generally secured by specific items of collateral including real property, consumer assets, and business assets. Although the Bank has a diversified loan portfolio, a substantial portion of its debtors&#x2019; ability to honor their contracts is dependent on local economic conditions in the agricultural industry.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 8%; MARGIN-TOP: 6pt"> While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions. In addition regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Bank to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near term. However, the amount of the change that is reasonably possible cannot be estimated.</p> </div>
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CY2012 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
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CY2012 us-gaap Proceeds From Sale Of Available For Sale Securities
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CY2012 us-gaap Assets That Continue To Be Recognized Securitized Or Asset Backed Financing Arrangement Assets And Any Other Financial Assets Managed Together Net Credit Losses During Period
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891000
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CY2012 us-gaap Interest Expense Deposits
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242000
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312000
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852000
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32000
CY2012 fmao Amortization Expenses
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312000
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290000
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932000
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3214000
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128000
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IncomeTaxExpenseBenefit
930000
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0.54
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CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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3558000
CY2012Q2 us-gaap Interest And Dividend Income Operating
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CY2012Q2 us-gaap Provision For Loan And Lease Losses
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78000
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1653000
CY2012Q2 us-gaap Income Tax Expense Benefit
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1020000
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CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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3511000
CY2013Q2 us-gaap Interest And Dividend Income Operating
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CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2012Q3 us-gaap Interest And Dividend Income Operating
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CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2013Q3 us-gaap Interest And Dividend Income Operating
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CY2013Q3 us-gaap Interest Expense
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CY2012Q4 us-gaap Interest Income Expense After Provision For Loan Loss
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CY2012Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2012Q4 us-gaap Interest And Dividend Income Operating
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CY2012Q4 us-gaap Income Tax Expense Benefit
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CY2013Q4 us-gaap Interest Expense
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