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Loans

9 Months Ended

Sep. 30, 2015

NOTE 3 – LOANS

The composition of net loans receivable at September 30, 2015 and December 31, 2014 is as follows:



(Dollars in thousands)	September 30, 2015		December 31, 2014

Commercial and industrial	$	17,842	$	20,549
Construction		10,206		12,379
Commercial real estate		347,095		326,370
Residential real estate		125,159		111,498
Consumer and other		1,317		1,665
Total loans receivable		501,619		472,461
Unearned net loan origination fees		(416)		(488)
Allowance for loan losses		(5,641)		(5,641)
Net loans receivable	$	495,562	$	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 $460 thousand and $475 thousand at September 30, 2015 and December 31, 2014, respectively. Mortgage servicing rights were immaterial at September 30, 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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