Allowance for Loan Losses (Tables)
|
9 Months Ended |
Sep. 30, 2016 |
|---|
| Loan Receivables Evaluated for Impairment Individually and Collectively by Segment |
Loan receivables evaluated for impairment individually and
collectively by segment as of September 30, 2016 and
December 31, 2015 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (Dollars in thousands) |
|
Mortgage
Loans |
|
|
Commercial
and |
|
|
Consumer |
|
|
|
|
|
As of September 30, 2016
|
|
on Real Estate |
|
|
Industrial |
|
|
Loans |
|
|
Total |
|
|
Individually evaluated for impairment
|
|
$ |
10,426 |
|
|
$ |
93 |
|
|
$ |
— |
|
|
$ |
10,519 |
|
|
Collectively evaluated for impairment
|
|
|
317,552 |
|
|
|
36,503 |
|
|
|
3,615 |
|
|
|
357,670 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Gross Loans
|
|
$ |
327,978 |
|
|
$ |
36,596 |
|
|
$ |
3,615 |
|
|
$ |
368,189 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Mortgage |
|
|
Commercial |
|
|
|
|
|
|
|
| |
|
Loans |
|
|
and |
|
|
Consumer |
|
|
|
|
|
As of December 31, 2015
|
|
on Real Estate |
|
|
Industrial |
|
|
Loans |
|
|
Total |
|
|
Individually evaluated for impairment
|
|
$ |
10,542 |
|
|
$ |
284 |
|
|
$ |
— |
|
|
$ |
10,826 |
|
|
Collectively evaluated for impairment
|
|
|
296,561 |
|
|
|
34,820 |
|
|
|
5,015 |
|
|
|
336,396 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Gross Loans
|
|
$ |
307,103 |
|
|
$ |
35,104 |
|
|
$ |
5,015 |
|
|
$ |
347,222 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Allowance for Loan Losses by Portfolio Segment |
Allowance for Loan Losses
The allowance for loan losses disaggregated based on loan
receivables evaluated for impairment individually and collectively
by segment as of September 30, 2016 and December 31, 2015
are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Mortgage |
|
|
Commercial |
|
|
|
|
|
|
|
| (Dollars in thousands) |
|
Loans |
|
|
and |
|
|
Consumer |
|
|
|
|
|
As of September 30, 2016
|
|
on Real Estate |
|
|
Industrial |
|
|
Loans |
|
|
Total |
|
|
Individually evaluated for impairment
|
|
$ |
751 |
|
|
$ |
92 |
|
|
$ |
— |
|
|
$ |
843 |
|
|
Collectively evaluated for impairment
|
|
|
2,457 |
|
|
|
388 |
|
|
|
53 |
|
|
|
2,898 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total allowance for loan losses
|
|
$ |
3,208 |
|
|
$ |
480 |
|
|
$ |
53 |
|
|
$ |
3,741 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Mortgage
Loans |
|
|
Commercial
and |
|
|
Consumer |
|
|
|
|
|
As of December 31, 2015
|
|
on Real Estate |
|
|
Industrial |
|
|
Loans |
|
|
Total |
|
|
Individually evaluated for impairment
|
|
$ |
1,256 |
|
|
$ |
278 |
|
|
$ |
— |
|
|
$ |
1,534 |
|
|
Collectively evaluated for impairment
|
|
|
2,246 |
|
|
|
321 |
|
|
|
122 |
|
|
|
2,689 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total allowance for loan losses
|
|
$ |
3,502 |
|
|
$ |
599 |
|
|
$ |
122 |
|
|
$ |
4,223 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
A disaggregation and an analysis of the change in the allowance for
loan losses by segment is shown below.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Mortgage |
|
|
Commercial |
|
|
|
|
|
|
|
| |
|
Loans on |
|
|
and |
|
|
Consumer |
|
|
|
|
| (Dollars in thousands) |
|
Real Estate |
|
|
Industrial |
|
|
Loans |
|
|
Total |
|
| For the Three Months Ended |
|
|
|
|
|
|
|
|
|
|
|
|
| September 30, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
ALLOWANCE FOR LOAN LOSSES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Balance
|
|
$ |
2,995 |
|
|
$ |
435 |
|
|
$ |
117 |
|
|
$ |
3,547 |
|
|
Reclassification of allowanace related to sold loans
|
|
|
— |
|
|
|
— |
|
|
|
(27 |
) |
|
|
(27 |
) |
|
(Charge-offs)
|
|
|
(46 |
) |
|
|
— |
|
|
|
(10 |
) |
|
|
(56 |
) |
|
Recoveries
|
|
|
15 |
|
|
|
— |
|
|
|
3 |
|
|
|
18 |
|
|
Provision
|
|
|
244 |
|
|
|
45 |
|
|
|
(30 |
) |
|
|
259 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
3,208 |
|
|
$ |
480 |
|
|
$ |
53 |
|
|
$ |
3,741 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Mortgage |
|
|
Commercial |
|
|
|
|
|
|
|
| |
|
Loans on |
|
|
and |
|
|
Consumer |
|
|
|
|
| |
|
Real Estate |
|
|
Industrial |
|
|
Loans |
|
|
Total |
|
| For the Three Months Ended |
|
|
|
|
|
|
|
|
|
|
|
|
| September 30, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
ALLOWANCE FOR LOAN LOSSES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Balance
|
|
$ |
2,889 |
|
|
$ |
420 |
|
|
$ |
130 |
|
|
$ |
3,439 |
|
|
(Charge-offs)
|
|
|
(12 |
) |
|
|
(132 |
) |
|
|
(17 |
) |
|
|
(161 |
) |
|
Recoveries
|
|
|
6 |
|
|
|
— |
|
|
|
6 |
|
|
|
12 |
|
|
Provision
|
|
|
(69 |
) |
|
|
145 |
|
|
|
8 |
|
|
|
84 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
2,814 |
|
|
$ |
433 |
|
|
$ |
127 |
|
|
$ |
3,374 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Mortgage |
|
|
Commercial |
|
|
|
|
|
|
|
| |
|
Loans on |
|
|
and |
|
|
Consumer |
|
|
|
|
| (Dollars in thousands) |
|
Real Estate |
|
|
Industrial |
|
|
Loans |
|
|
Total |
|
| For the Nine Months Ended |
|
|
|
|
|
|
|
|
|
|
|
|
| September 30, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
ALLOWANCE FOR LOAN LOSSES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Balance
|
|
$ |
3,502 |
|
|
$ |
599 |
|
|
$ |
122 |
|
|
$ |
4,223 |
|
|
Reclassification of allowance related to sold loans
|
|
|
— |
|
|
|
— |
|
|
|
(27 |
) |
|
|
(27 |
) |
|
(Charge-offs)
|
|
|
(702 |
) |
|
|
(158 |
) |
|
|
(41 |
) |
|
|
(901 |
) |
|
Recoveries
|
|
|
25 |
|
|
|
5 |
|
|
|
9 |
|
|
|
39 |
|
|
Provision
|
|
|
383 |
|
|
|
34 |
|
|
|
(10 |
) |
|
|
407 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
3,208 |
|
|
$ |
480 |
|
|
$ |
53 |
|
|
$ |
3,741 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Mortgage |
|
|
Commercial |
|
|
|
|
|
|
|
| |
|
Loans on |
|
|
and |
|
|
Consumer |
|
|
|
|
| |
|
Real Estate |
|
|
Industrial |
|
|
Loans |
|
|
Total |
|
| For the Nine Months Ended |
|
|
|
|
|
|
|
|
|
|
|
|
| September 30, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
ALLOWANCE FOR LOAN LOSSES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Balance
|
|
$ |
2,778 |
|
|
$ |
323 |
|
|
$ |
104 |
|
|
$ |
3,205 |
|
|
(Charge-offs)
|
|
|
(13 |
) |
|
|
(132 |
) |
|
|
(103 |
) |
|
|
(248 |
) |
|
Recoveries
|
|
|
16 |
|
|
|
— |
|
|
|
47 |
|
|
|
63 |
|
|
Provision
|
|
|
33 |
|
|
|
242 |
|
|
|
79 |
|
|
|
354 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
2,814 |
|
|
$ |
433 |
|
|
$ |
127 |
|
|
$ |
3,374 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Internal Risk Rating Grades are Assigned to Commercial Loans Not Secured |
Internal risk rating grades are generally assigned to commercial
loans not secured by real estate, commercial mortgages, residential
mortgages greater than $1 million, smaller residential mortgages
which are impaired, loans to real estate developers and
contractors, consumer loans greater than $250,000 with chronic
delinquency, and TDRs, as shown in the following table. The grading
analysis estimates the capability of the borrower to repay the
contractual obligations of the loan agreements as scheduled. Risk
grades (refer to Note 2) are evaluated as new information becomes
available for each borrowing relationship or at least
quarterly.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Construction, |
|
|
|
|
|
Commercial |
|
|
Commercial |
|
|
|
|
|
|
|
| |
|
Land and |
|
|
|
|
|
Mortgages |
|
|
Mortgages |
|
|
Commercial |
|
|
|
|
| (Dollars in thousands) |
|
Land |
|
|
|
|
|
(Non-Owner |
|
|
(Owner |
|
|
and |
|
|
|
|
|
As of September 30, 2016
|
|
Development |
|
|
Farmland |
|
|
Occupied) |
|
|
Occupied) |
|
|
Industrial |
|
|
Total |
|
|
Grade:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass
|
|
$ |
34,042 |
|
|
$ |
1,051 |
|
|
$ |
24,398 |
|
|
$ |
36,044 |
|
|
$ |
35,026 |
|
|
$ |
130,561 |
|
|
Watch
|
|
|
5,466 |
|
|
|
— |
|
|
|
4,212 |
|
|
|
5,433 |
|
|
|
1,193 |
|
|
|
16,304 |
|
|
Special mention
|
|
|
182 |
|
|
|
— |
|
|
|
273 |
|
|
|
1,467 |
|
|
|
126 |
|
|
|
2,048 |
|
|
Substandard
|
|
|
1,840 |
|
|
|
— |
|
|
|
248 |
|
|
|
2,560 |
|
|
|
251 |
|
|
|
4,899 |
|
|
Doubtful
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
41,530 |
|
|
$ |
1,051 |
|
|
$ |
29,131 |
|
|
$ |
45,504 |
|
|
$ |
36,596 |
|
|
$ |
153,812 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Construction, |
|
|
|
|
|
Commercial |
|
|
Commercial |
|
|
|
|
|
|
|
| |
|
Land and |
|
|
|
|
|
Mortgages |
|
|
Mortgages |
|
|
Commercial |
|
|
|
|
| |
|
Land |
|
|
|
|
|
(Non-Owner |
|
|
(Owner |
|
|
and |
|
|
|
|
|
As of December 31, 2015
|
|
Development |
|
|
Farmland |
|
|
Occupied) |
|
|
Occupied) |
|
|
Industrial |
|
|
Total |
|
|
Grade:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass
|
|
$ |
34,692 |
|
|
$ |
1,030 |
|
|
$ |
24,258 |
|
|
$ |
33,023 |
|
|
$ |
29,383 |
|
|
$ |
122,386 |
|
|
Watch
|
|
|
5,337 |
|
|
|
— |
|
|
|
4,564 |
|
|
|
4,968 |
|
|
|
5,202 |
|
|
|
20,071 |
|
|
Special mention
|
|
|
1,119 |
|
|
|
— |
|
|
|
— |
|
|
|
2,687 |
|
|
|
148 |
|
|
|
3,954 |
|
|
Substandard
|
|
|
981 |
|
|
|
— |
|
|
|
264 |
|
|
|
3,278 |
|
|
|
371 |
|
|
|
4,894 |
|
|
Doubtful
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
42,129 |
|
|
$ |
1,030 |
|
|
$ |
29,086 |
|
|
$ |
43,956 |
|
|
$ |
35,104 |
|
|
$ |
151,305 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Performing and Non Performing Loans |
Loans are considered to be nonperforming when they are delinquent
by 90 days or more or non-accruing and credit risk is primarily
evaluated by delinquency status, as shown in the table below.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (Dollars in thousands) |
|
|
|
|
Residential |
|
|
|
|
|
|
|
| |
|
Residential |
|
|
Revolving |
|
|
|
|
|
|
|
| As of September 30, 2016 |
|
First |
|
|
and Junior |
|
|
Consumer |
|
|
|
|
|
PAYMENT ACTIVITY STATUS
|
|
Mortgages (1) |
|
|
Mortgages (2) |
|
|
Loans (3) |
|
|
Total |
|
|
Performing
|
|
$ |
183,097 |
|
|
$ |
25,176 |
|
|
$ |
3,615 |
|
|
$ |
211,888 |
|
|
Nonperforming
|
|
|
2,276 |
|
|
|
213 |
|
|
|
— |
|
|
|
2,489 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
185,373 |
|
|
$ |
25,389 |
|
|
$ |
3,615 |
|
|
$ |
214,377 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
Residential |
|
|
|
|
|
|
|
| |
|
Residential |
|
|
Revolving |
|
|
|
|
|
|
|
| As of December 31, 2015 |
|
First |
|
|
and Junior |
|
|
Consumer |
|
|
|
|
|
PAYMENT ACTIVITY STATUS
|
|
Mortgages (4) |
|
|
Mortgages (5) |
|
|
Loans (6) |
|
|
Total |
|
|
Performing
|
|
$ |
161,564 |
|
|
$ |
26,220 |
|
|
$ |
4,996 |
|
|
$ |
192,780 |
|
|
Nonperforming
|
|
|
2,841 |
|
|
|
277 |
|
|
|
19 |
|
|
|
3,137 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
164,405 |
|
|
$ |
26,497 |
|
|
$ |
5,015 |
|
|
$ |
195,917 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Residential First Mortgages which
have been assigned a risk rating grade of Substandard totaled $3.3
million as of September 30, 2016. |
| (2) |
Residential Revolving and Junior
Mortgages which have been assigned a risk rating grade of
Substandard totaled $265 thousand as of September 30,
2016. |
| (3) |
No Consumer Loans had been assigned a
risk rating grade of Substandard as of September 30,
2016. |
| (4) |
Residential First Mortgages which
have been assigned a risk rating grade of Substandard totaled $3.9
million as of December 31, 2015. |
| (5) |
Residential Revolving and Junior
Mortgages which have been assigned a risk rating grade of
Substandard totaled $372 thousand as of December 31,
2015. |
| (6) |
No Consumer Loans had been assigned a
risk rating grade of Substandard as of December 31, 2015. |
|
| Company's Recorded Investment and Customers Unpaid Principal Balances for Impaired Loans, with Associated Allowance Amount |
The following tables show the Company’s recorded investment
and the customers’ unpaid principal balances for impaired
loans, with the associated allowance amount, if applicable, as of
September 30, 2016 and December 31, 2015, along with the
average recorded investment and interest income recognized for the
three and nine months ended September 30, 2016 and 2015,
respectively.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands)
IMPAIRED LOANS
|
|
At September 30, 2016 |
|
|
At December 31, 2015 |
|
| |
Recorded |
|
|
Customers’ Unpaid |
|
|
Related |
|
|
Recorded |
|
|
Customers’ Unpaid |
|
|
Related |
|
| |
|
Investment |
|
|
Principal Balance |
|
|
Allowance |
|
|
Investment |
|
|
Principal Balance |
|
|
Allowance |
|
|
With no related allowance:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land and land development
|
|
$ |
1,532 |
|
|
$ |
1,540 |
|
|
$ |
— |
|
|
$ |
445 |
|
|
$ |
451 |
|
|
$ |
— |
|
|
Residential First Mortgages
|
|
|
2,520 |
|
|
|
2,552 |
|
|
|
— |
|
|
|
3,130 |
|
|
|
3,166 |
|
|
|
— |
|
|
Residential Revolving and Junior Mortgages (1)
|
|
|
951 |
|
|
|
951 |
|
|
|
— |
|
|
|
233 |
|
|
|
233 |
|
|
|
— |
|
|
Commercial Mortgages (Non-owner occupied)
|
|
|
248 |
|
|
|
248 |
|
|
|
— |
|
|
|
264 |
|
|
|
264 |
|
|
|
— |
|
|
Commercial Mortgages (Owner occupied)
|
|
|
2,050 |
|
|
|
2,356 |
|
|
|
— |
|
|
|
1,352 |
|
|
|
1,390 |
|
|
|
— |
|
|
Commercial and Industrial
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,301 |
|
|
|
7,647 |
|
|
|
— |
|
|
|
5,424 |
|
|
|
5,504 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With an allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land and land development
|
|
|
248 |
|
|
|
287 |
|
|
|
150 |
|
|
|
262 |
|
|
|
290 |
|
|
|
120 |
|
|
Residential First Mortgages
|
|
|
1,961 |
|
|
|
1,961 |
|
|
|
366 |
|
|
|
2,507 |
|
|
|
2,507 |
|
|
|
308 |
|
|
Residential Revolving and Junior Mortgages (1)
|
|
|
232 |
|
|
|
235 |
|
|
|
148 |
|
|
|
258 |
|
|
|
259 |
|
|
|
150 |
|
|
Commercial Mortgages (Non-owner occupied)
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Commercial Mortgages (Owner occupied)
|
|
|
684 |
|
|
|
692 |
|
|
|
87 |
|
|
|
2,091 |
|
|
|
2,348 |
|
|
|
678 |
|
|
Commercial and Industrial
|
|
|
93 |
|
|
|
101 |
|
|
|
92 |
|
|
|
284 |
|
|
|
285 |
|
|
|
278 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,218 |
|
|
|
3,276 |
|
|
|
843 |
|
|
|
5,402 |
|
|
|
5,689 |
|
|
|
1,534 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Impaired Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land and land development
|
|
|
1,780 |
|
|
|
1,827 |
|
|
|
150 |
|
|
|
707 |
|
|
|
741 |
|
|
|
120 |
|
|
Residential First Mortgages
|
|
|
4,481 |
|
|
|
4,513 |
|
|
|
366 |
|
|
|
5,637 |
|
|
|
5,673 |
|
|
|
308 |
|
|
Residential Revolving and Junior Mortgages (1)
|
|
|
1,183 |
|
|
|
1,186 |
|
|
|
148 |
|
|
|
491 |
|
|
|
492 |
|
|
|
150 |
|
|
Commercial Mortgages (Non-owner occupied)
|
|
|
248 |
|
|
|
248 |
|
|
|
— |
|
|
|
264 |
|
|
|
264 |
|
|
|
— |
|
|
Commercial Mortgages (Owner occupied)
|
|
|
2,734 |
|
|
|
3,048 |
|
|
|
87 |
|
|
|
3,443 |
|
|
|
3,738 |
|
|
|
678 |
|
|
Commercial and Industrial
|
|
|
93 |
|
|
|
101 |
|
|
|
92 |
|
|
|
284 |
|
|
|
285 |
|
|
|
278 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
10,519 |
|
|
$ |
10,923 |
|
|
$ |
843 |
|
|
$ |
10,826 |
|
|
$ |
11,193 |
|
|
$ |
1,534 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Junior mortgages include equity
lines. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the three months ended |
|
|
For the nine months ended |
|
| |
|
September 30, 2016 |
|
|
September 30, 2015 |
|
|
September 30, 2016 |
|
|
September 30, 2015 |
|
| |
|
Average |
|
|
Interest |
|
|
Average |
|
|
Interest |
|
|
Average |
|
|
Interest |
|
|
Average |
|
|
Interest |
|
| |
|
Recorded |
|
|
Income |
|
|
Recorded |
|
|
Income |
|
|
Recorded |
|
|
Income |
|
|
Recorded |
|
|
Income |
|
| (Dollars in
thousands) |
|
Investment |
|
|
Recognized |
|
|
Investment |
|
|
Recognized |
|
|
Investment |
|
|
Recognized |
|
|
Investment |
|
|
Recognized |
|
|
With no related allowance:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land and land development
|
|
$ |
1,533 |
|
|
$ |
14 |
|
|
$ |
448 |
|
|
$ |
— |
|
|
$ |
1,262 |
|
|
$ |
41 |
|
|
$ |
449 |
|
|
$ |
— |
|
|
Residential First Mortgages
|
|
|
2,618 |
|
|
|
4 |
|
|
|
2,061 |
|
|
|
18 |
|
|
|
2,432 |
|
|
|
9 |
|
|
|
1,813 |
|
|
|
53 |
|
|
Residential Revolving and Junior Mortgages (1)
|
|
|
951 |
|
|
|
9 |
|
|
|
50 |
|
|
|
1 |
|
|
|
739 |
|
|
|
30 |
|
|
|
50 |
|
|
|
2 |
|
|
Commercial Mortgages (Non-owner occupied)
|
|
|
248 |
|
|
|
4 |
|
|
|
264 |
|
|
|
4 |
|
|
|
252 |
|
|
|
11 |
|
|
|
264 |
|
|
|
12 |
|
|
Commercial Mortgages (Owner occupied)
|
|
|
2,104 |
|
|
|
9 |
|
|
|
1,354 |
|
|
|
8 |
|
|
|
1,982 |
|
|
|
26 |
|
|
|
1,036 |
|
|
|
20 |
|
|
Commercial and Industrial
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Consumer (2)
|
|
|
— |
|
|
|
— |
|
|
|
3 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,454 |
|
|
|
40 |
|
|
|
4,180 |
|
|
|
31 |
|
|
|
6,667 |
|
|
|
117 |
|
|
|
3,616 |
|
|
|
87 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With an allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land and land development
|
|
|
250 |
|
|
|
1 |
|
|
|
268 |
|
|
|
1 |
|
|
|
255 |
|
|
|
3 |
|
|
|
272 |
|
|
|
4 |
|
|
Residential First Mortgages
|
|
|
1,965 |
|
|
|
24 |
|
|
|
1,741 |
|
|
|
21 |
|
|
|
1,956 |
|
|
|
66 |
|
|
|
1,748 |
|
|
|
64 |
|
|
Residential Revolving and Junior Mortgages (1)
|
|
|
234 |
|
|
|
— |
|
|
|
209 |
|
|
|
2 |
|
|
|
209 |
|
|
|
4 |
|
|
|
191 |
|
|
|
6 |
|
|
Commercial Mortgages (Non-owner occupied)
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Commercial Mortgages (Owner occupied)
|
|
|
686 |
|
|
|
5 |
|
|
|
1,152 |
|
|
|
6 |
|
|
|
691 |
|
|
|
17 |
|
|
|
1,156 |
|
|
|
21 |
|
|
Commercial and Industrial
|
|
|
92 |
|
|
|
— |
|
|
|
120 |
|
|
|
— |
|
|
|
105 |
|
|
|
1 |
|
|
|
91 |
|
|
|
— |
|
|
Consumer (2)
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,227 |
|
|
|
30 |
|
|
|
3,490 |
|
|
|
30 |
|
|
|
3,216 |
|
|
|
91 |
|
|
|
3,458 |
|
|
|
95 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land and land development
|
|
|
1,783 |
|
|
|
15 |
|
|
|
716 |
|
|
|
1 |
|
|
|
1,517 |
|
|
|
44 |
|
|
|
721 |
|
|
|
4 |
|
|
Residential First Mortgages
|
|
|
4,583 |
|
|
|
28 |
|
|
|
3,802 |
|
|
|
39 |
|
|
|
4,388 |
|
|
|
75 |
|
|
|
3,561 |
|
|
|
117 |
|
|
Residential Revolving and Junior Mortgages (1)
|
|
|
1,185 |
|
|
|
9 |
|
|
|
259 |
|
|
|
3 |
|
|
|
948 |
|
|
|
34 |
|
|
|
241 |
|
|
|
8 |
|
|
Commercial Mortgages (Non-owner occupied)
|
|
|
248 |
|
|
|
4 |
|
|
|
264 |
|
|
|
4 |
|
|
|
252 |
|
|
|
11 |
|
|
|
264 |
|
|
|
12 |
|
|
Commercial Mortgages (Owner occupied)
|
|
|
2,790 |
|
|
|
14 |
|
|
|
2,506 |
|
|
|
14 |
|
|
|
2,673 |
|
|
|
43 |
|
|
|
2,192 |
|
|
|
41 |
|
|
Commercial and Industrial
|
|
|
92 |
|
|
|
— |
|
|
|
120 |
|
|
|
— |
|
|
|
105 |
|
|
|
1 |
|
|
|
91 |
|
|
|
— |
|
|
Consumer (2)
|
|
|
— |
|
|
|
— |
|
|
|
3 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
10,681 |
|
|
$ |
70 |
|
|
$ |
7,670 |
|
|
$ |
61 |
|
|
$ |
9,883 |
|
|
$ |
208 |
|
|
$ |
7,074 |
|
|
$ |
182 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Junior mortgages include equity
lines. |
| (2) |
Includes credit cards. |
|
| Summary of Troubled Debt Restructurings |
The following table presents, by segments of loans, information
related to loans modified as TDRs during the three and nine months
ended September 30, 2016 and 2015.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For
the three months ended |
|
|
For
the three months ended |
|
| |
|
September 30,
2016 |
|
|
September 30,
2015 |
|
|
(Dollars in thousands)
TROUBLED DEBT RESTRUCTURINGS
|
|
Number of
Loans |
|
|
Pre-Modification
Outstanding
Recorded
Investment |
|
|
Post-Modification
Outstanding
Recorded
Investment |
|
|
Number of
Loans |
|
|
Pre-Modification
Outstanding
Recorded
Investment |
|
|
Post-Modification
Outstanding
Recorded
Investment |
|
|
Residential first mortgages (1)
|
|
|
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
1 |
|
|
$ |
213 |
|
|
$ |
211 |
|
| (1) |
Modification was an extension of loan
terms. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For
the nine months ended |
|
|
For
the nine months ended |
|
| |
|
September 30, 2016 |
|
|
September 30, 2015 |
|
|
(Dollars in thousands)
TROUBLED DEBT RESTRUCTURINGS
|
|
Number of
Loans |
|
|
Pre-Modification
Outstanding
Recorded
Investment |
|
|
Post-Modification
Outstanding
Recorded
Investment |
|
|
Number of
Loans |
|
|
Pre-Modification
Outstanding
Recorded
Investment |
|
|
Post-Modification
Outstanding
Recorded
Investment |
|
|
Residential first mortgages (2) (1)
|
|
|
1 |
|
|
$ |
244 |
|
|
$ |
244 |
|
|
|
1 |
|
|
$ |
213 |
|
|
$ |
211 |
|
|
Commercial mortgage (Owner occupied) (2)
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
105 |
|
|
|
124 |
|
| (1) |
Modification was an extension of loan
terms. |
| (2) |
Modification was a capitalization of
interest. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the three months ended |
|
|
For the three months ended |
|
| (Dollars in
thousands) |
|
September 30, 2016 |
|
|
September 30, 2015 |
|
|
TROUBLED DEBT RESTRUCTURINGS
THAT SUBSEQUENTLY DEFAULTED
|
|
Number of
Loans |
|
|
Recorded
Investment |
|
|
Number of
Loans |
|
|
Recorded
Investment |
|
|
Commercial and industrial
|
|
|
— |
|
|
$ |
— |
|
|
|
— |
|
|
$ |
— |
|
|
|
|
| |
|
For the nine months ended |
|
|
For the nine months
ended |
|
| (Dollars in
thousands) |
|
September 30, 2016 |
|
|
September 30, 2015 |
|
|
TROUBLED DEBT RESTRUCTURINGS
THAT SUBSEQUENTLY DEFAULTED
|
|
Number of
Loans |
|
|
Recorded
Investment |
|
|
Number of
Loans |
|
|
Recorded
Investment |
|
|
Commercial mortgage (Owner occupied)
|
|
|
— |
|
|
$ |
— |
|
|
|
1 |
|
|
$ |
124 |
|
|
| Summary of Properties Included in Other Real Estate Owned (OREO) |
The table below details the properties included in other real
estate owned (“OREO”) as of September 30, 2016 and
December 31, 2015. There were three collateralized consumer
residential mortgage loans with an aggregate balance of $601
thousand from two borrowers in the process of foreclosure as of
September 30, 2016.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
As of September 30, 2016 |
|
|
As of December 31, 2015 |
|
| |
|
No. of |
|
|
Carrying |
|
|
No. of |
|
|
Carrying |
|
| (Dollars in
thousands) |
|
Properties |
|
|
Value |
|
|
Properties |
|
|
Value |
|
|
Residential
|
|
|
3 |
|
|
$ |
1,172 |
|
|
|
3 |
|
|
$ |
540 |
|
|
Land lots
|
|
|
6 |
|
|
|
536 |
|
|
|
7 |
|
|
|
413 |
|
|
Convenience stores
|
|
|
1 |
|
|
|
59 |
|
|
|
2 |
|
|
|
191 |
|
|
Restaurant
|
|
|
1 |
|
|
|
55 |
|
|
|
1 |
|
|
|
55 |
|
|
Commerical properties
|
|
|
3 |
|
|
|
942 |
|
|
|
3 |
|
|
|
671 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
14 |
|
|
$ |
2,764 |
|
|
|
16 |
|
|
$ |
1,870 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|