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Loans

3 Months Ended

Mar. 31, 2015

NOTE 3 – LOANS

The composition of net loans receivable at March 31, 2015 and December 31, 2014 is as follows:



(Dollars in thousands)	March 31, 2015		December 31, 2014

Commercial and industrial	$	18,822	$	20,549
Construction		13,239		12,379
Commercial real estate		325,742		326,370
Residential real estate		114,663		111,498
Consumer and other		1,324		1,665
Total loans receivable		473,790		472,461
Unearned net loan origination fees		(487)		(488)
Allowance for loan losses		(5,763)		(5,641)
Net loans receivable	$	467,540	$	466,332

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 $470 thousand and $475 thousand at March 31, 2015 and December 31, 2014, respectively. Mortgage servicing rights were immaterial at March 31, 2015 and December 31, 2014.

- 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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