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Loans

3 Months Ended

Mar. 31, 2014

NOTE 3 – LOANS

The composition of net loans receivable at March 31, 2014 and December 31, 2013 is as follows:



(Dollars in thousands)	March 31, 2014		December 31, 2013

Commercial and industrial	$	19,635	$	15,205
Construction		6,852		7,307
Commercial real estate		276,101		260,664
Residential real estate		108,889		107,992
Consumer and other		1,629		1,617
		413,106		392,785
Unearned net loan origination fees		(382)		(383)
Allowance for loan losses		(5,437)		(5,421)
Net loans receivable	$	407,287	$	386,981

Mortgage loans serviced for others are not included in the accompanying balance sheets. The total amount of loans serviced for the benefit of others was approximately $541 thousand and $546 thousand at March 31, 2014 and December 31, 2013, respectively. Mortgage servicing rights were immaterial at March 31, 2014 and December 31, 2013.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

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