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LOANS (Tables)
 6 Months Ended
Jun. 30, 2013
Loans Tables  
Schedule of loans outstanding, by general ledger classification

Loans outstanding, by general ledger classification, as of June 30, 2013 and December 31, 2012, consisted of the following:

 

          % of           % of  
    June 30,     Total     December 31,     Total  
(In thousands)   2013     Loans     2012     Loans  
Residential mortgage   $ 532,356       42.52 %   $ 515,014       45.47 %
Commercial mortgage     534,371       42.68       420,086       37.09  
Commercial loans     106,598       8.51       115,372       10.19  
Construction loans     9,179       0.73       9,328       0.83  
Home equity lines of credit     47,583       3.80       49,635       4.38  
Consumer loans, including fixed                                
   rate home equity loans     19,552       1.56       21,188       1.87  
Other loans     2,545       0.20       1,961       0.17  
   Total loans   $ 1,252,184       100.00 %   $ 1,132,584       100.00 %
Schedule of loans outstanding, classification by (Bank Segment) Federal call report codes

The following portfolio classes have been identified as of June 30, 2013 and December 31, 2012:

 

          % of           % of  
    June 30,     Total     December 31,     Total  
(In thousands)   2013     Loans     2012     Loans  
Primary residential mortgage   $ 542,442       43.44 %   $ 527,803       46.74 %
Home equity lines of credit     47,694       3.82       49,635       4.40  
Junior lien loan on residence     13,712       1.10       11,893       1.05  
Multifamily property     254,485       20.38       161,705       14.32  
Owner-occupied commercial real estate     82,584       6.61       84,720       7.50  
Investment commercial real estate     258,623       20.71       242,586       21.48  
Commercial and industrial     26,331       2.11       25,820       2.29  
Secured by farmland     203       0.02       207       0.02  
Agricultural production loans     12       N/A       14       N/A  
Commercial construction loans     9,188       0.74       9,323       0.83  
Consumer and other loans     13,362       1.07       15,480       1.37  
   Total loans   $ 1,248,636       100.00 %   $ 1,129,186       100.00 %
Net deferred fees     3,548               3,398          
   Total loans including net deferred costs   $ 1,252,184             $ 1,132,584          
Schedule of loan balances by portfolio class, based on impairment method, and the corresponding balances in the allowance for loan losses

The following tables present the loan balances by portfolio class, based on impairment method, and the corresponding balances in the allowance for loan losses as of June 30, 2013 and December 31, 2012:

June 30, 2013
    Total     Ending ALLL     Total     Ending ALLL              
    Loans     Attributable     Loans     Attributable              
    Individually     to Loans     Collectively     to Loans              
    Evaluated     Individually     Evaluated     Collectively           Total  
    for     Evaluated for     for     Evaluated for     Total     Ending  
(In thousands)   Impairment     Impairment     Impairment     Impairment     Loans     ALLL  
Primary residential                                                
   mortgage   $ 4,365     $ 131     $ 538,077     $ 2,931     $ 542,442     $ 3,062  
Home equity lines                                                
   of credit     209       —       47,485       253       47,694       253  
Junior lien loan                                                
   on residence     245       —       13,467       71       13,712       71  
Multifamily                                                
   property     —       —       254,485       2,159       254,485       2,159  
Owner-occupied                                                
   commercial                                                
   real estate     3,938       —       78,646       2,414       82,584       2,414  
Investment                                                
   commercial                                                
   real estate     4,949       348       253,674       3,812       258,623       4,160  
Commercial and                                                
   industrial     500       362       25,831       768       26,331       1,130  
Secured by                                                
   farmland     —       —       203       3       203       3  
Agricultural                                                
   production     —       —       12       —       12       —  
Commercial                                                
   construction     3,771       —       5,417       112       9,188       112  
Consumer and                                                
   other     —       —       13,362       74       13,362       74  
Unallocated     —       —       —       —               —  
Total ALLL   $ 17,977     $ 841     $ 1,230,659     $ 12,597     $ 1,248,636     $ 13,438  

 

December 31, 2012
          Ending           Ending                          
          ALLL           ALLL                          
    Total     Attributable     Total     Attributable                          
    Loans     To Loans     Loans     To Loans           Total              
    Individually     Individually     Collectively     Collectively           Ending     Allocation        
    Evaluated     Evaluated     Evaluated     Evaluated           ALLL     Of Previous     Total  
    For     For     For     For     Total     Before     Unallocated     Ending  
(In thousands)   Impairment     Impairment     Impairment     Impairment     Loans     Allocation     ALLL     ALLL  
Primary residential                                                                
  mortgage   $ 7,155     $ 148     $ 520,648     $ 2,789     $ 527,803     $ 2,937     $ 110     $ 3,047  
Home equity                                                                
   lines of credit     110       —       49,525       257       49,635       257       10       267  
Junior lien loan                                                                
   on residence     562       240       11,331       71       11,893       311       3       314  
Multifamily                                                                
   property     —       —       161,705       1,255       161,705       1,255       50       1,305  
Owner-occupied                                                                
   commercial                                                                
   real estate     4,724       —       79,996       2,413       84,720       2,413       96       2,509  
Investment                                                                
   commercial                                                                
   real estate     5,173       384       237,413       3,627       242,586       4,011       144       4,155  
Commercial and                                                                
   industrial     423       41       25,397       733       25,820       774       29       803  
Secured by                                                                
   farmland     —       —       207       3       207       3       —       3  
Agricultural                                                                
   production     —       —       14       —       14       —       —       —  
Commercial                                                                
   construction     —       —       9,323       231       9,323       231       9       240  
Consumer and                                                                
   other     —       —       15,480       89       15,480       89       3       92  
Unallocated     —       —       —       454       —       454       (454 )     —  
    Total ALLL   $ 18,147     $ 813     $ 1,111,039     $ 11,922     $ 1,129,186     $ 12,735     $ —     $ 12,735
Schedule of loans individually evaluated for impairment

The following tables present loans individually evaluated for impairment by class of loans as of June 30, 2013 and December 31, 2012:

 

June 30, 2013
    Unpaid                 Average     Interest  
    Principal     Recorded     Specific     Impaired     Income  
(In thousands)   Balance     Investment     Reserves     Loans     Recognized  
With no related allowance recorded:                                        
   Primary residential mortgage   $ 4,387     $ 3,383     $ —     $ 5,372     $ 59  
   Multifamily property     —       —       —       —       —  
   Owner-occupied commercial real estate     4,167       3,938       —       4,478       54  
   Investment commercial real estate     —       —       —       218       3  
   Commercial and industrial     69       69       —       74       1  
   Commercial Construction     3,771       3,771       —       —       —  
   Home equity lines of credit     209       209       —       110       2  
   Junior lien loan on residence     389       245       —       400       6  
   Consumer and other     —       —       —       —       —  
     Total loans with no related allowance   $ 12,992     $ 11,615     $ —     $ 10,652     $ 125  
With related allowance recorded:                                        
   Primary residential mortgage   $ 1,047     $ 982     $ 131     $ 1,435     $ 38  
   Owner-occupied commercial real estate     —       —       —       —       —  
   Investment commercial real estate     4,949       4,949       348       4,949       619  
   Commercial and industrial     435       431       362       212       3  
   Junior lien loan on residence     —       —       —       —       —  
     Total loans with related allowance   $ 6,431     $ 6,362     $ 841     $ 6,596     $ 660  
Total loans individually evaluated for                                        
   impairment   $ 19,423     $ 17,977     $ 841     $ 17,248     $ 785  

 

December 31, 2012
    Unpaid                 Average     Interest  
    Principal     Recorded     Specific     Impaired     Income  
(In thousands)   Balance     Investment     Reserves     Loans     Recognized  
With no related allowance recorded:                                        
   Primary residential mortgage   $ 8,605     $ 6,148     $ —     $ 8,110     $ 384  
   Multifamily property     —       —       —       185       16  
   Owner-occupied commercial real estate     4,971       4,723       —       9,575       570  
   Investment commercial real estate     336       —       —       796       51  
   Commercial and industrial     432       345       —       640       47  
   Home equity lines of credit     110       110       —       221       11  
   Junior lien loan on residence     429       236       —       439       30  
     Total loans with no related allowance   $ 14,883     $ 11,562     $ —     $ 19,966     $ 1,109  
With related allowance recorded:                                        
   Primary residential mortgage   $ 1,056     $ 1,007     $ 148     $ 851     $ 38  
   Multifamily property     —       —       —       —       —  
   Owner-occupied commercial real estate     —       —       —       —       —  
   Investment commercial real estate     5,183       5,173       384       5,013       251  
   Commercial and industrial     78       78       41       92       74  
   Junior lien loan on residence     327       327       240       —       8  
   Commercial construction     —       —       —       194       —  
     Total loans with related allowance   $ 6,644     $ 6,585     $ 813     $ 6,150     $ 371  
Total loans individually evaluated for                                        
   Impairment   $ 21,527     $ 18,147     $ 813     $ 26,116     $ 1,480
Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual

The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of June 30, 2013 and December 31, 2012:

    June 30, 2013  
          Loans Past Due  
          Over 90 Days  
          And Still  
          Accruing  
(In thousands)   Nonaccrual     Interest  
Primary residential mortgage   $ 3,318     $ —  
Home equity lines of credit     209       —  
Junior lien loan on residence     245       —  
Owner-occupied commercial real estate     3,938       —  
Commercial and industrial     365       —  
Total   $ 8,075     $ —  

 

    December 31, 2012  
          Loans Past Due  
          Over 90 Days  
          And Still  
          Accruing  
(In thousands)   Nonaccrual     Interest  
Primary residential mortgage   $ 6,519     $ —  
Home equity lines of credit     110       —  
Junior lien loan on residence     562       —  
Owner-occupied commercial real estate     4,317       —  
Investment commercial real estate     224       —  
Total   $ 11,732     $ —
Schedule of aging of the recorded investment in past due loans

The following tables present the aging of the recorded investment in past due loans as of June 30, 2013 and December 31, 2012 by class of loans, excluding nonaccrual loans:

June 30, 2013
    30-59     60-89     Greater Than        
    Days     Days     90 Days     Total  
(In thousands)   Past Due     Past Due     Past Due     Past Due  
Primary residential mortgage   $ 1,085     $ 301     $ —     $ 1,386  
Home equity lines of credit     14       —       —       14  
Owner-occupied commercial real estate     —       144       —       144  
   Total   $ 1,099     $ 445     $ —     $ 1,544  

 

December 31, 2012
    30-59     60-89     Greater Than        
    Days     Days     90 Days     Total  
(In thousands)   Past Due     Past Due     Past Due     Past Due  
Primary residential mortgage   $ 2,513     $ 203     $ —     $ 2,716  
Home equity lines of credit     25       —       —       25  
Junior lien loan on residence     31       —       —       31  
Owner-occupied commercial real estate     407       —       —       407  
Investment commercial real estate     592       —       —       592  
Commercial and industrial     15       —       —       15  
   Total   $ 3,583     $ 203     $ —     $ 3,786  
Schedule of the risk category of loans by class of loans

As of June 30, 2013, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

          Special              
(In thousands)   Pass     Mention     Substandard     Doubtful  
Primary residential mortgage   $ 536,351     $ 1,407     $ 4,684     $ —  
Home equity lines of credit     47,485       —       209       —  
Junior lien loan on residence     13,436       —       276       —  
Multifamily property     254,485       —       —       —  
Farmland     203       —       —       —  
Owner-occupied commercial real estate     72,027       87       10,470       —  
Investment commercial real estate     236,190       10,241       12,192       —  
Agricultural production loans     12       —       —       —  
Commercial and industrial     25,786       24       521       —  
Commercial construction     3,863       1,554       3,771       —  
Consumer and other loans     12,496       866       —       —  
   Total   $ 1,202,334     $ 14,179     $ 32,123     $ —  

 

As of December 31, 2012, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

          Special              
(In thousands)   Pass     Mention     Substandard     Doubtful  
Primary residential mortgage   $ 517,336     $ 3,152     $ 7,315     $ —  
Home equity lines of credit     49,525       —       110       —  
Junior lien loan on residence     11,294       37       562       —  
Multifamily property     161,229       476       —       —  
Owner-occupied commercial real estate     73,809       334       10,577       —  
Investment commercial real estate     216,394       13,237       12,955       —  
Agricultural production loans     14       —       —       —  
Commercial and industrial     25,191       134       495       —  
Secured by farmland     207       —       —       —  
Commercial construction     3,999       5,324       —       —  
Consumer and other loans     15,480       —       —       —  
   Total   $ 1,074,478     $ 22,694     $ 32,014     $ —  
Schedule of activity in the allowance for loan losses

The activity in the allowance for loan losses for the three months ended June 30, 2013 is summarized below:

    April 1,                       June 30,  
    2013                       2013  
    Beginning                       Ending  
(In thousands)   ALLL     Charge-Offs     Recoveries     Provision     ALLL  
Primary residential mortgage   $ 3,340     $ (393 )   $ 1     $ 114     $ 3,062  
Home equity lines of credit     260       —       —       (7 )     253  
Junior lien loan on residence     63       —       —       8       71  
Multifamily property     1,562       —       —       597       2,159  
Owner-occupied commercial real estate     2,428       —       19       (33 )     2,414  
Investment commercial real estate     4,272       —       6       (118 )     4,160  
Agricultural production loans     —       —       —       —       —  
Commercial and industrial     1,147       —       27       (44 )     1,130  
Secured by farmland     3       —       —       —       3  
Commercial construction     114       —       —       (2 )     112  
Consumer and other loans     90       (2 )     1       (15 )     74  
   Total ALLL   $ 13,279     $ (395 )   $ 54     $ 500     $ 13,438  

The activity in the allowance for loan losses for the six months ended June 30, 2013 is summarized below:

    January 1,                       June 30,  
    2013                       2013  
    Beginning                       Ending  
(In thousands)   ALLL     Charge-Offs     Recoveries     Provision     ALLL  
Primary residential mortgage   $ 3,047     $ (456 )   $ 13     $ 458     $ 3,062  
Home equity lines of credit     267       —       —       (14 )     253  
Junior lien loan on residence     314       (295 )     7       45       71  
Multifamily property     1,305       —       11       843       2,159  
Owner-occupied commercial real estate     2,509       —       38       (133 )     2,414  
Investment commercial real estate     4,155       —       12       (7 )     4,160  
Agricultural production loans     —       —       —       —       —  
Commercial and industrial     803       (15 )     37       305       1,130  
Secured by farmland     3       —       —       —       3  
Commercial construction     240       —       1       (129 )     112  
Consumer and other loans     92       (4 )     4       (18 )     74  
   Total ALLL   $ 12,735     $ (770 )   $ 123     $ 1,350     $ 13,438  

 

The activity in the allowance for loan losses for the three months ended June 30, 2012 is summarized below:

 

    April 1,                       June 30,  
    2012                       2012  
    Beginning                       Ending  
(In thousands)   ALLL     Charge-Offs     Recoveries     Provision     ALLL  
Primary residential mortgage   $ 2,414     $ (988 )   $ 1     $ 1,175     $ 2,602  
Home equity lines of credit     204       (91 )     —       95       208  
Junior lien loan on residence     64       (57 )     4       44       55  
Multifamily property     705       (375 )     —       509       839  
Farmland     —       —       —       3       3  
Owner-occupied commercial real estate     3,108       (916 )     126       1,100       3,418  
Investment commercial real estate     4,181       (56 )     9       650       4,784  
Agricultural production loans     1       —       —       —       1  
Commercial and industrial     1,291       (112 )     4       (266 )     917  
Commercial construction     669       (72 )     —       (363 )     234  
Consumer and other loans     78       (20 )     6       13       77  
Unallocated     508       —       —       40       548  
   Total ALLL   $ 13,223     $ (2,687 )   $ 150     $ 3,000     $ 13,686  

 

The activity in the allowance for loan losses for the six months ended June 30, 2012 is summarized below:

 

    January 1,                       June 30,  
    2012                       2012  
    Beginning                       Ending  
(In thousands)   ALLL     Charge-Offs     Recoveries     Provision     ALLL  
Primary residential mortgage   $ 2,414     $ (988 )   $ 1     $ 1,175     $ 2,602  
Home equity lines of credit     204       (91 )     —       95       208  
Junior lien loan on residence     64       (57 )     4       44       55  
Multifamily property     705       (375 )     —       509       839  
Farmland     —       —       —       3       3  
Owner-occupied commercial real estate     3,108       (916 )     126       1,100       3,418  
Investment commercial real estate     4,181       (56 )     9       650       4,784  
Agricultural production loans     1       —       —       —       1  
Commercial and industrial     1,291       (112 )     4       (266 )     917  
Commercial construction     669       (72 )     —       (363 )     234  
Consumer and other loans     78       (20 )     6       13       77  
Unallocated     508       —       —       40       548  
   Total ALLL   $ 13,223     $ (2,687 )   $ 150     $ 3,000     $ 13,686
Schedule of modified as troubled debt restructurings

The following table presents loans by class modified as troubled debt restructurings that occurred during the three month period ending June 30, 2013:

          Pre-     Post-  
          Modification     Modification  
          Outstanding     Outstanding  
    Number of     Recorded     Recorded  
(Dollars in thousands)   Contracts     Investment     Investment  
Primary residential mortgage     1     $ 160     $ 160  
   Total     1     $ 160     $ 160  

 

The following table presents loans by class modified as troubled debt restructurings that occurred during the six month period ending June 30, 2013:

 

          Pre-     Post-  
          Modification     Modification  
          Outstanding     Outstanding  
    Number of     Recorded     Recorded  
(Dollars in thousands)   Contracts     Investment     Investment  
Primary residential mortgage     3     $ 482     $ 482  
   Total     3     $ 482     $ 482  

 

The identification of the troubled debt restructured loans did not have a significant impact on the allowance for loan losses. The following table presents loans by class modified as troubled debt restructurings that occurred during the three month period ending June 30, 2012:

          Pre-Modification     Post-Modification  
          Outstanding     Outstanding  
    Number of     Recorded     Recorded  
    Contracts     Investment     Investment  
Primary Residential Mortgage     2     $ 260     $ 260  
Total     2     $ 260     $ 260  

 

The following table presents loans by class modified as troubled debt restructurings that occurred during the six month period ending June 30, 2012:

          Pre-Modification     Post-Modification  
          Outstanding     Outstanding  
    Number of     Recorded     Recorded  
    Contracts     Investment     Investment  
Primary Residential Mortgage     4     $ 610     $ 610  
Junior Lien on Residence     1       249       249  
Owner-Occupied Commercial Real Estate     1       2,197       2,197  
Total     6     $ 3,056     $ 3,056
Schedule of modified as troubled debt restructurings subsequently defaulted

The following table presents loans by class modified as troubled debt restructurings for which there was a payment default, within twelve months of modification, during the six month period ended June 30, 2013:

    Number of     Recorded  
(Dollars in thousands   Contracts     Investment  
Owner-occupied commercial real estate     1       406  
Commercial and industrial     1     $ 270  
   Total     2     $ 676  

 

The following table presents loans by class modified as troubled debt restructurings for which there was a payment default, within twelve months of modification, during the six-month period ended June 30, 2012:

    Number of     Recorded  
    Contracts     Investment  
Owner-Occupied Commercial Real Estate     1     $ 412  
Total     1     $ 412