2014 Q1 Form 10-Q Financial Statement

#000114420414023766 Filed on April 21, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2013 Q1
Revenue $6.288M $6.263M
YoY Change 0.4%
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 $500.0K $430.0K $600.0K
YoY Change -16.67% -23.21% -6.25%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $416.0K $462.0K
YoY Change -9.96%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $2.325M $1.750M $2.234M
YoY Change 4.07% -16.67% 31.41%
Income Tax $521.0K $390.0K $564.0K
% Of Pretax Income 22.41% 22.29% 25.25%
Net Earnings $1.804M $1.360M $1.670M
YoY Change 8.02% -16.05% 23.7%
Net Earnings / Revenue 28.69% 26.66%
Basic Earnings Per Share $0.63 $0.59
Diluted Earnings Per Share $0.63 $478.9K $0.59
COMMON SHARES
Basic Shares Outstanding 2.844B shares 2.840M shares
Diluted Shares Outstanding 2.844B shares 2.840M shares

Balance Sheet

Concept 2014 Q1 2013 Q4 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $30.89M $19.79M $24.38M
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 $17.13M $17.26M $17.40M
YoY Change -1.56% -2.36% -3.87%
Goodwill $0.00
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 $723.6M $693.5M $688.8M
YoY Change 5.05% 0.23% 3.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $7.800M $8.900M $7.400M
YoY Change 5.41% 7.23% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $15.90M $14.00M $16.70M
YoY Change -4.79% -14.11% -22.69%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.800M $8.900M $7.400M
YoY Change 5.41% 7.23% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $38.20M $30.90M $34.30M
YoY Change 11.37% -6.93% -11.83%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $38.20M $30.90M $34.30M
YoY Change 11.37% -6.93% -11.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.800M $8.900M $7.400M
Total Long-Term Liabilities $38.20M $30.90M $34.30M
Total Liabilities $653.8M $626.7M $620.7M
YoY Change 5.34% 0.4% 2.63%
SHAREHOLDERS EQUITY
Retained Earnings $66.70M $65.52M
YoY Change 7.73%
Common Stock $5.605M $4.393M
YoY Change -20.85%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.197M $1.197M
YoY Change 13.46%
Treasury Stock Shares 56.04K shares 56.04K shares
Shareholders Equity $69.76M $66.76M $68.12M
YoY Change
Total Liabilities & Shareholders Equity $723.6M $693.5M $688.8M
YoY Change 5.05% 0.23% 3.04%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2013 Q1
OPERATING ACTIVITIES
Net Income $1.804M $1.360M $1.670M
YoY Change 8.02% -16.05% 23.7%
Depreciation, Depletion And Amortization $500.0K $430.0K $600.0K
YoY Change -16.67% -23.21% -6.25%
Cash From Operating Activities -$410.0K -$550.0K $2.170M
YoY Change -118.89% -110.78% 886.36%
INVESTING ACTIVITIES
Capital Expenditures $211.0K -$320.0K $101.0K
YoY Change 108.91% 3.23% -148.1%
Acquisitions
YoY Change
Other Investing Activities -$17.16M -$15.03M -$8.270M
YoY Change 107.5% 2790.38% -40.03%
Cash From Investing Activities -$17.37M -$15.35M -$8.370M
YoY Change 107.53% 1727.38% -40.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 27.54M -2.080M -3.170M
YoY Change -968.77% -120.84% -117.56%
NET CHANGE
Cash From Operating Activities -410.0K -550.0K 2.170M
Cash From Investing Activities -17.37M -15.35M -8.370M
Cash From Financing Activities 27.54M -2.080M -3.170M
Net Change In Cash 9.760M -17.98M -9.370M
YoY Change -204.16% -226.26% -319.95%
FREE CASH FLOW
Cash From Operating Activities -$410.0K -$550.0K $2.170M
Capital Expenditures $211.0K -$320.0K $101.0K
Free Cash Flow -$621.0K -$230.0K $2.069M
YoY Change -130.01% -104.25% 381.16%

Facts In Submission

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CY2014Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
9534000 USD
CY2013Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
9867000 USD
CY2014Q1 us-gaap Available For Sale Securities Change In Net Unrealized Holding Gain Loss Net Of Tax
AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax
-1802000 USD
CY2014Q1 us-gaap Accumulated Other Comprehensive Income Loss Other Than Temporary Impairment Not Credit Loss Net Of Tax Debt Securities
AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxDebtSecurities
-1407000 USD
CY2013Q4 us-gaap Loans And Leases Receivable Consumer
LoansAndLeasesReceivableConsumer
237000 USD
CY2014Q1 us-gaap Loans And Leases Receivable Commercial
LoansAndLeasesReceivableCommercial
61275000 USD
CY2013Q4 us-gaap Loans And Leases Receivable Commercial
LoansAndLeasesReceivableCommercial
57790000 USD
CY2014Q1 us-gaap Loans And Leases Receivable Other
LoansAndLeasesReceivableOther
23114000 USD
CY2013Q4 us-gaap Loans And Leases Receivable Other
LoansAndLeasesReceivableOther
21587000 USD
CY2013Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
8347000 USD
CY2014Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
1714000 USD
CY2014Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
86703000 USD
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
108998000 USD
CY2013 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAggregateLosses
4130000 USD
CY2014Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAggregateLosses
2079000 USD
CY2014Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
6865000 USD
CY2013Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
3446000 USD
CY2013 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses
3379000 USD
CY2014Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAggregateLosses
3063000 USD
CY2014Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
93568000 USD
CY2013 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAggregateLosses
7509000 USD
CY2014Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Aggregate Losses
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAggregateLosses
5142000 USD
CY2014Q1 us-gaap Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Year
AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear
78 Securities
CY2013Q4 us-gaap Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Year
AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear
117 Securities
CY2014Q1 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Greater Than Or Equal To One Year
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear
13 Securities
CY2013Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Greater Than Or Equal To One Year
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear
8 Securities
CY2013Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
125 Securities
CY2014Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
453379000 USD
CY2013Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
438168000 USD
CY2014Q1 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
234000 USD
CY2013Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
252000 USD
CY2014Q1 us-gaap Loans And Leases Receivable Loans In Process
LoansAndLeasesReceivableLoansInProcess
100000 USD
CY2013Q4 us-gaap Loans And Leases Receivable Loans In Process
LoansAndLeasesReceivableLoansInProcess
95000 USD
CY2012Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
8421000 USD
CY2013Q1 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
213000 USD
CY2014Q1 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
9000 USD
CY2013Q1 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
4000 USD
CY2014Q1 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
18000 USD
CY2013Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
135000 USD
CY2014Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
245000 USD
CY2014Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
443511000 USD
CY2013Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
427954000 USD
CY2013Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-843000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
3081000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
128000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
350000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-971000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
2731000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-336000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
929000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
-2000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
-1000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-2000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-1000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-2000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-637000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1801000 USD
CY2013Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1033000 USD
CY2014Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3605000 USD
CY2014Q1 us-gaap Financing Receivable Recorded Investment30 To59 Days Past Due
FinancingReceivableRecordedInvestment30To59DaysPastDue
5352000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment30 To59 Days Past Due
FinancingReceivableRecordedInvestment30To59DaysPastDue
5837000 USD
CY2014Q1 us-gaap Financing Receivable Recorded Investment60 To89 Days Past Due
FinancingReceivableRecordedInvestment60To89DaysPastDue
1011000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment60 To89 Days Past Due
FinancingReceivableRecordedInvestment60To89DaysPastDue
3741000 USD
CY2014Q1 us-gaap Financing Receivable Recorded Investment Equal To Greater Than90 Days Past Due
FinancingReceivableRecordedInvestmentEqualToGreaterThan90DaysPastDue
6538000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Equal To Greater Than90 Days Past Due
FinancingReceivableRecordedInvestmentEqualToGreaterThan90DaysPastDue
2717000 USD
CY2014Q1 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
12901000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
12295000 USD
CY2014Q1 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
440144000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
425526000 USD
CY2014Q1 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
568000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
174000 USD
CY2014Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
6437000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
3780000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
67651000 USD
CY2013Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-635000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1802000 USD
CY2013Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6000 USD
CY2014Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
15000 USD
CY2013Q1 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
57000 USD
CY2014Q1 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
0 USD
CY2013Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
22000 USD
CY2014Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
0 USD
CY2013Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
540000 USD
CY2014Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
626000 USD
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
68115000 USD
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
250000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2839985 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2843573 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2839985 shares
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2843573 shares
CY2013Q1 us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
4755000 USD
CY2014Q1 us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
5007000 USD
CY2013Q1 us-gaap Proceeds From Loans
ProceedsFromLoans
5081000 USD
CY2014Q1 us-gaap Proceeds From Loans
ProceedsFromLoans
3522000 USD
CY2013Q1 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
557000 USD
CY2014Q1 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
479000 USD
CY2013Q1 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
36000 USD
CY2014Q1 us-gaap Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
21000 USD
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6000 USD
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
15000 USD
CY2013Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-116000 USD
CY2014Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-56000 USD
CY2013Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-896000 USD
CY2014Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1021000 USD
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 us-gaap Proceeds From Federal Home Loan Bank Borrowings
ProceedsFromFederalHomeLoanBankBorrowings
45000000 USD
CY2013Q1 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
10000000 USD
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Trading Symbol
TradingSymbol
NWIN
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
2844839 shares
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-8374000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-17366000 USD
CY2013Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-4055000 USD
CY2014Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
18911000 USD
CY2013Q1 us-gaap Proceeds From Federal Home Loan Bank Borrowings
ProceedsFromFederalHomeLoanBankBorrowings
11000000 USD
CY2013Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
502000 USD
CY2014Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-2212000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
2172000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-408000 USD
CY2013Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
13515000 USD
CY2014Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
4996000 USD
CY2013Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
20525000 USD
CY2014Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
27488000 USD
CY2013Q1 nwin Loan Participations Purchased
LoanParticipationsPurchased
0 USD
CY2014Q1 nwin Loan Participations Purchased
LoanParticipationsPurchased
427000 USD
CY2013Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
4249000 USD
CY2014Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
14811000 USD
CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
101000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
211000 USD
CY2013Q1 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
90000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
0 USD
CY2014Q1 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
37000000 USD
CY2013Q1 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
-460000 USD
CY2014Q1 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
-1259000 USD
CY2013Q1 us-gaap Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
22000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
0 USD
CY2013Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
539000 USD
CY2014Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
626000 USD
CY2014Q1 us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
1393000 USD
CY2013Q1 us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
1257000 USD
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
NORTHWEST INDIANA BANCORP
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000919864
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
103000 USD
CY2013Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
87000 USD
CY2014Q1 us-gaap Payments To Acquire Federal Home Loan Bank Stock
PaymentsToAcquireFederalHomeLoanBankStock
881000 USD
CY2013Q1 us-gaap Payments To Acquire Federal Home Loan Bank Stock
PaymentsToAcquireFederalHomeLoanBankStock
0 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
27544000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-3169000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
9770000 USD
CY2013Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-9371000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21124000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
33751000 USD
CY2014Q1 us-gaap Loans Held For Sale Mortgages
LoansHeldForSaleMortgages
1693000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30894000 USD
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
24380000 USD
CY2014Q1 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
0 USD
CY2013Q1 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
57000 USD
CY2014Q1 us-gaap Interest Paid
InterestPaid
416000 USD
CY2013Q1 us-gaap Interest Paid
InterestPaid
466000 USD
CY2014Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2013Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2014Q1 nwin Transfers From Loans To Foreclosed Real Estate
TransfersFromLoansToForeclosedRealEstate
35000 USD
CY2013Q1 nwin Transfers From Loans To Foreclosed Real Estate
TransfersFromLoansToForeclosedRealEstate
95000 USD
CY2014Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Note 1 - Basis of Presentation</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The consolidated financial statements include the accounts of NorthWest Indiana Bancorp (the &#8220;Bancorp&#8221;), its wholly-owned subsidiary, Peoples Bank SB (the &#8220;Bank&#8221;), and the Bank&#8217;s wholly-owned subsidiaries, Peoples Service Corporation, NWIN, LLC, NWIN Funding, Incorporated, and Columbia Development Company, LLC. The Bancorp has no other business activity other than being a holding company for the Bank. The Bancorp&#8217;s earnings are dependent upon the earnings of the Bank. The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all disclosures required by U.S. generally accepted accounting principles for complete presentation of consolidated financial statements. In the opinion of management, the consolidated financial statements contain all adjustments necessary to present fairly the consolidated balance sheets of the Bancorp as of March 31, 2014 and December 31, 2013, and the consolidated statements of income, comprehensive income, and changes in stockholders&#8217; equity, and cash flows for the three months ended March 31, 2014 and 2013. The income reported for the three month period ended March 31, 2014 is not necessarily indicative of the results to be expected for the full year.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2013Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2014Q1 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Note 9 - Adoption of New Accounting Standards</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Update Number 2014-04 &#150; Receivables&#151;Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. This amendment is intended to clarify when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate recognized. These amendments clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either: (a) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure; or (b) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additional disclosures are required. The amendments are effective for the Bancorp for annual periods and interim periods within those annual periods beginning after December 15, 2014.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2013Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
271000 USD
CY2014Q1 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsNoPreviousImpairment
0 USD
CY2014Q1 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
271000 USD
CY2014Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
3675 shares
CY2013Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
3950 shares
CY2014Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
30894000 USD
CY2014Q1 nwin Demand And Savings Deposits
DemandAndSavingsDeposits
82760000 USD
CY2014Q1 us-gaap Borrowed Funds
BorrowedFunds
38248000 USD
CY2013Q4 us-gaap Securities Loaned Or Sold Under Agreements To Repurchase Fair Value Disclosure
SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure
14043000 USD
CY2013Q4 us-gaap Investment In Federal Home Loan Bank Stock Fair Value Disclosure
InvestmentInFederalHomeLoanBankStockFairValueDisclosure
3086000 USD
CY2013Q4 nwin Interest Receivable Fair Value
InterestReceivableFairValue
2480000 USD
CY2013Q4 nwin Demand And Saving Deposits Fair Value Disclosure
DemandAndSavingDepositsFairValueDisclosure
73430000 USD
CY2013Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
47000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
21124000 USD
CY2013Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
138000 USD
CY2013Q4 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
427719000 USD
CY2014Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
47000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
30894000 USD
CY2014Q1 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
1712000 USD
CY2014Q1 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
441526000 USD
CY2014Q1 us-gaap Investment In Federal Home Loan Bank Stock Fair Value Disclosure
InvestmentInFederalHomeLoanBankStockFairValueDisclosure
3967000 USD
CY2014Q1 nwin Interest Receivable Fair Value
InterestReceivableFairValue
2565000 USD
CY2014Q1 nwin Demand And Saving Deposits Fair Value Disclosure
DemandAndSavingDepositsFairValueDisclosure
82760000 USD
CY2014Q1 nwin Certificates Of Deposits Fair Value Disclosure
CertificatesOfDepositsFairValueDisclosure
509063000 USD
CY2014Q1 us-gaap Securities Loaned Or Sold Under Agreements To Repurchase Fair Value Disclosure
SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure
15954000 USD
CY2014Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
38261000 USD
CY2014Q1 nwin Interest Payable Fair Value
InterestPayableFairValue
47000 USD
CY2013Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
21124000 USD
CY2013Q4 us-gaap Loans Held For Sale Mortgages
LoansHeldForSaleMortgages
136000 USD
CY2013Q4 nwin Demand And Savings Deposits
DemandAndSavingsDeposits
73430000 USD
CY2013Q4 us-gaap Borrowed Funds
BorrowedFunds
30898000 USD
CY2013Q4 nwin Certificates Of Deposits Fair Value Disclosure
CertificatesOfDepositsFairValueDisclosure
499470000 USD
CY2013Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
30956000 USD
CY2013Q4 nwin Interest Payable Fair Value
InterestPayableFairValue
47000 USD
CY2014Q1 nwin Minimum Percentage Of Defaults Rates On Above3 Years Issuer Average In Other Than Temporary Impairment Model Assumptions
MinimumPercentageOfDefaultsRatesOnAbove3YearsIssuerAverageInOtherThanTemporaryImpairmentModelAssumptions
0.0025 pure
CY2014Q1 nwin Maximum Percentage Of Defaults Rates On Above3 Years Issuer Average In Other Than Temporary Impairment Model Assumptions
MaximumPercentageOfDefaultsRatesOnAbove3YearsIssuerAverageInOtherThanTemporaryImpairmentModelAssumptions
0.0500 pure
CY2014Q1 nwin Minimum Percentage Of Recovery Assumptions On Other Than Temporary Impairment Model Assumptions
MinimumPercentageOfRecoveryAssumptionsOnOtherThanTemporaryImpairmentModelAssumptions
0 pure
CY2014Q1 nwin Maximum Percentage Of Recovery Assumptions On Other Than Temporary Impairment Model Assumptions
MaximumPercentageOfRecoveryAssumptionsOnOtherThanTemporaryImpairmentModelAssumptions
0.15 pure
CY2014Q1 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
3900000 USD
CY2014Q1 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
9500000 USD
CY2013Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
9900000 USD
CY2014Q1 nwin Impaired Financing Receivable Reserve
ImpairedFinancingReceivableReserve
1700000 USD
CY2013Q4 nwin Impaired Financing Receivable Reserve
ImpairedFinancingReceivableReserve
1700000 USD
CY2014Q1 nwin Impaired Financing Receivable Fair Value
ImpairedFinancingReceivableFairValue
7800000 USD
CY2013Q4 nwin Impaired Financing Receivable Fair Value
ImpairedFinancingReceivableFairValue
8200000 USD
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
36400000 USD
CY2013Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6000 USD
CY2014Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15000 USD
CY2014Q1 nwin Sharebased Compensation Expense Estimated For Year Two
SharebasedCompensationExpenseEstimatedForYearTwo
57000 USD
CY2014Q1 nwin Sharebased Compensation Expense Estimated For Remainder Of Fiscal Year
SharebasedCompensationExpenseEstimatedForRemainderOfFiscalYear
44000 USD

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