Loans (Tables)
|
12 Months Ended |
Dec. 31, 2012
|
Composition of Net Loans |
The composition
of net loans at December 31, 2012 and 2011 is as
follows:
|
|
|
|
|
|
|
|
|
|
|
2012 |
|
|
2011 |
|
|
|
(In
Thousands) |
|
Real Estate:
|
|
|
|
|
|
|
|
|
Land Development and
Construction
|
|
$ |
12,755 |
|
|
$ |
13,480 |
|
Farmland
|
|
|
31,663 |
|
|
|
35,912 |
|
1-4 Family
Mortgages
|
|
|
115,837 |
|
|
|
133,987 |
|
Commercial Real
Estate
|
|
|
132,495 |
|
|
|
129,387 |
|
|
|
|
|
|
|
|
|
|
Total Real Estate
Loans
|
|
|
292,750 |
|
|
|
312,766 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Loans:
|
|
|
|
|
|
|
|
|
Commercial and Industrial
Loans
|
|
|
45,564 |
|
|
|
36,581 |
|
Farm Production and other
Farm Loans
|
|
|
1,433 |
|
|
|
1,579 |
|
|
|
|
|
|
|
|
|
|
Total Business
Loans
|
|
|
46,997 |
|
|
|
38,160 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Loans:
|
|
|
|
|
|
|
|
|
Credit Cards
|
|
|
1,050 |
|
|
|
995 |
|
Other Consumer
Loans
|
|
|
28,341 |
|
|
|
37,545 |
|
|
|
|
|
|
|
|
|
|
Total Consumer
Loans
|
|
|
29,391 |
|
|
|
38,540 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Gross
Loans
|
|
|
369,138 |
|
|
|
389,466 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Unearned income
|
|
|
(248 |
) |
|
|
(204 |
) |
Allowance for loan
losses
|
|
|
(6,954 |
) |
|
|
(6,681 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Loans, net
|
|
$ |
361,936 |
|
|
$ |
382,581 |
|
|
|
|
|
|
|
|
|
|
|
Activity in Related Party Loans |
Activity in
related party loans during 2012 is presented in the following
table.
|
|
|
|
|
Balance outstanding at
December 31, 2011
|
|
$ |
1,127,383 |
|
|
|
Principal
additions
|
|
|
1,423,635 |
|
|
|
Principal
reductions
|
|
|
697,796 |
|
|
|
|
|
|
|
|
Balance outstanding at
December 31, 2012
|
|
$ |
1,853,222 |
|
|
|
|
|
|
|
Year-End Non-Accrual Loans, Segregated by Class of Loans |
Year-end non-accrual loans,
segregated by class of loans, were as follows:
|
|
|
|
|
|
|
|
|
|
|
2012 |
|
|
2011 |
|
|
|
(in thousands) |
|
Real Estate:
|
|
|
|
|
|
|
|
|
Land Development and
Construction
|
|
$ |
142 |
|
|
$ |
1,134 |
|
Farmland
|
|
|
1,087 |
|
|
|
641 |
|
1-4 Family
Mortgages
|
|
|
2,356 |
|
|
|
1,966 |
|
Commercial Real
Estate
|
|
|
10,175 |
|
|
|
6,818 |
|
|
|
|
|
|
|
|
|
|
Total Real Estate
Loans
|
|
|
13,760 |
|
|
|
10,559 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Loans:
|
|
|
|
|
|
|
|
|
Commercial and Industrial
Loans
|
|
|
167 |
|
|
|
284 |
|
Farm Production and other
Farm Loans
|
|
|
3 |
|
|
|
21 |
|
|
|
|
|
|
|
|
|
|
Total Business
Loans
|
|
|
170 |
|
|
|
305 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Loans:
|
|
|
|
|
|
|
|
|
Credit Cards
|
|
|
— |
|
|
|
— |
|
Other Consumer
Loans
|
|
|
212 |
|
|
|
435 |
|
|
|
|
|
|
|
|
|
|
Total Consumer
Loans
|
|
|
212 |
|
|
|
435 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-Accrual
Loans
|
|
$ |
14,142 |
|
|
$ |
11,299 |
|
|
|
|
|
|
|
|
|
|
|
Age Analysis of Past Due Loans, Segregated by Class of Loans |
An age analysis of past due
loans, segregated by class of loans, as of December 31, 2012
was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
30-89 Days
Past Due |
|
|
Loans
90 or more
Days
Past
Due |
|
|
Total Past
Due Loans |
|
|
Current
Loans |
|
|
Total
Loans |
|
|
Accruing
Loans
90 or more
Days
Past
Due |
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Land Development and
Construction
|
|
$ |
2,588 |
|
|
$ |
— |
|
|
$ |
2,588 |
|
|
$ |
10,167 |
|
|
$ |
12,755 |
|
|
$ |
— |
|
Farmland
|
|
|
786 |
|
|
|
589 |
|
|
|
1,375 |
|
|
|
30,288 |
|
|
|
31,663 |
|
|
|
— |
|
1-4 Family
Mortgages
|
|
|
8,139 |
|
|
|
623 |
|
|
|
8,762 |
|
|
|
107,075 |
|
|
|
115,837 |
|
|
|
32 |
|
Commercial Real
Estate
|
|
|
3,033 |
|
|
|
5,013 |
|
|
|
8,046 |
|
|
|
124,449 |
|
|
|
132,495 |
|
|
|
544 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Real Estate
Loans
|
|
|
14,546 |
|
|
|
6,225 |
|
|
|
20,771 |
|
|
|
271,979 |
|
|
|
292,750 |
|
|
|
576 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and Industrial
Loans
|
|
|
3,070 |
|
|
|
9 |
|
|
|
3,079 |
|
|
|
42,485 |
|
|
|
45,564 |
|
|
|
— |
|
Farm Production and other
Farm Loans
|
|
|
2 |
|
|
|
— |
|
|
|
2 |
|
|
|
1,431 |
|
|
|
1,433 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Business
Loans
|
|
|
3,072 |
|
|
|
9 |
|
|
|
3,081 |
|
|
|
43,916 |
|
|
|
46,997 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit Cards
|
|
|
40 |
|
|
|
30 |
|
|
|
70 |
|
|
|
980 |
|
|
|
1,050 |
|
|
|
30 |
|
Other Consumer
Loans
|
|
|
1,711 |
|
|
|
57 |
|
|
|
1,768 |
|
|
|
26,573 |
|
|
|
28,341 |
|
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer
Loans
|
|
|
1,751 |
|
|
|
87 |
|
|
|
1,838 |
|
|
|
27,553 |
|
|
|
29,391 |
|
|
|
33 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Loans
|
|
$ |
19,369 |
|
|
$ |
6,321 |
|
|
$ |
25,690 |
|
|
$ |
343,448 |
|
|
$ |
369,138 |
|
|
$ |
609 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
An age analysis of past due
loans, segregated by class of loans, as of December 31, 2011
was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans
30-89 Days
Past Due |
|
|
Loans
90 or more
Days
Past
Due |
|
|
Total Past
Due Loans |
|
|
Current
Loans |
|
|
Total
Loans |
|
|
Accruing
Loans
90 or more
Days
Past
Due |
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Land Development and
Construction
|
|
$ |
30 |
|
|
$ |
562 |
|
|
$ |
592 |
|
|
$ |
12,888 |
|
|
$ |
13,480 |
|
|
$ |
39 |
|
Farmland
|
|
|
1,061 |
|
|
|
139 |
|
|
|
1,200 |
|
|
|
34,712 |
|
|
|
35,912 |
|
|
|
— |
|
1-4 Family
Mortgages
|
|
|
5,774 |
|
|
|
822 |
|
|
|
6,596 |
|
|
|
127,391 |
|
|
|
133,987 |
|
|
|
80 |
|
Commercial Real
Estate
|
|
|
4,941 |
|
|
|
4,855 |
|
|
|
9,796 |
|
|
|
119,591 |
|
|
|
129,387 |
|
|
|
109 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Real Estate
Loans
|
|
|
11,806 |
|
|
|
6,378 |
|
|
|
18,184 |
|
|
|
294,582 |
|
|
|
312,766 |
|
|
|
228 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and Industrial
Loans
|
|
|
294 |
|
|
|
99 |
|
|
|
393 |
|
|
|
36,188 |
|
|
|
36,581 |
|
|
|
— |
|
Farm Production and other
Farm Loans
|
|
|
13 |
|
|
|
6 |
|
|
|
19 |
|
|
|
1,560 |
|
|
|
1,579 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Business
Loans
|
|
|
307 |
|
|
|
105 |
|
|
|
412 |
|
|
|
37,748 |
|
|
|
38,160 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit Cards
|
|
|
20 |
|
|
|
17 |
|
|
|
37 |
|
|
|
958 |
|
|
|
995 |
|
|
|
17 |
|
Other Consumer
Loans
|
|
|
1,858 |
|
|
|
252 |
|
|
|
2,110 |
|
|
|
35,435 |
|
|
|
37,545 |
|
|
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer
Loans
|
|
|
1,878 |
|
|
|
269 |
|
|
|
2,147 |
|
|
|
36,393 |
|
|
|
38,540 |
|
|
|
41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Loans
|
|
$ |
13,991 |
|
|
$ |
6,752 |
|
|
$ |
20,743 |
|
|
$ |
368,723 |
|
|
$ |
389,466 |
|
|
$ |
269 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impaired Loans, by Class of Loans |
Impaired loans
as of December 31, by class of loans, are as follows (in
thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2012
|
|
Unpaid
Principal
Balance |
|
|
Recorded
Investment
With No
Allowance |
|
|
Recorded
Investment
With
Allowance |
|
|
Total
Recorded
Investment |
|
|
Related
Allowance |
|
|
Average
Recorded
Investment |
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Land Development and
Construction
|
|
$ |
142 |
|
|
$ |
18 |
|
|
$ |
124 |
|
|
$ |
142 |
|
|
$ |
117 |
|
|
$ |
638 |
|
Farmland
|
|
|
1,087 |
|
|
|
947 |
|
|
|
140 |
|
|
|
1,087 |
|
|
|
24 |
|
|
|
864 |
|
1-4 Family
Mortgages
|
|
|
2,356 |
|
|
|
1,740 |
|
|
|
616 |
|
|
|
2,356 |
|
|
|
186 |
|
|
|
2,211 |
|
Commercial Real
Estate
|
|
|
10,175 |
|
|
|
5,954 |
|
|
|
4,221 |
|
|
|
10,175 |
|
|
|
711 |
|
|
|
8,496 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Real Estate
Loans
|
|
|
13,760 |
|
|
|
8,659 |
|
|
|
5,101 |
|
|
|
13,760 |
|
|
|
1,038 |
|
|
|
12,209 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and Industrial
Loans
|
|
|
167 |
|
|
|
76 |
|
|
|
91 |
|
|
|
167 |
|
|
|
55 |
|
|
|
226 |
|
Farm Production and other
Farm Loans
|
|
|
3 |
|
|
|
3 |
|
|
|
— |
|
|
|
3 |
|
|
|
— |
|
|
|
12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Business
Loans
|
|
|
170 |
|
|
|
79 |
|
|
|
91 |
|
|
|
170 |
|
|
|
55 |
|
|
|
238 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Consumer
Loans
|
|
|
212 |
|
|
|
212 |
|
|
|
— |
|
|
|
212 |
|
|
|
— |
|
|
|
323 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer
Loans
|
|
|
212 |
|
|
|
212 |
|
|
|
— |
|
|
|
212 |
|
|
|
— |
|
|
|
323 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Loans
|
|
$ |
14,142 |
|
|
$ |
8,950 |
|
|
$ |
5,192 |
|
|
$ |
14,142 |
|
|
$ |
1,093 |
|
|
$ |
12,770 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2011
|
|
Unpaid
Principal
Balance |
|
|
Recorded
Investment
With No
Allowance |
|
|
Recorded
Investment
With
Allowance |
|
|
Total
Recorded
Investment |
|
|
Related
Allowance |
|
|
Average
Recorded
Investment |
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Land Development and
Construction
|
|
$ |
1,134 |
|
|
$ |
992 |
|
|
$ |
142 |
|
|
$ |
1,134 |
|
|
$ |
134 |
|
|
$ |
883 |
|
Farmland
|
|
|
641 |
|
|
|
492 |
|
|
|
149 |
|
|
|
641 |
|
|
|
24 |
|
|
|
588 |
|
1-4 Family
Mortgages
|
|
|
2,066 |
|
|
|
1,297 |
|
|
|
769 |
|
|
|
2,066 |
|
|
|
216 |
|
|
|
1,933 |
|
Commercial Real
Estate
|
|
|
6,818 |
|
|
|
5,042 |
|
|
|
1,776 |
|
|
|
6,818 |
|
|
|
736 |
|
|
|
6,896 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Real Estate
Loans
|
|
|
10,659 |
|
|
|
7,823 |
|
|
|
2,836 |
|
|
|
10,659 |
|
|
|
1,110 |
|
|
|
10,300 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and Industrial
Loans
|
|
|
284 |
|
|
|
163 |
|
|
|
121 |
|
|
|
284 |
|
|
|
57 |
|
|
|
860 |
|
Farm Production and other
Farm Loans
|
|
|
21 |
|
|
|
21 |
|
|
|
— |
|
|
|
21 |
|
|
|
— |
|
|
|
19 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Business
Loans
|
|
|
305 |
|
|
|
184 |
|
|
|
121 |
|
|
|
305 |
|
|
|
57 |
|
|
|
879 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Consumer
Loans
|
|
|
435 |
|
|
|
430 |
|
|
|
5 |
|
|
|
435 |
|
|
|
— |
|
|
|
321 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer
Loans
|
|
|
435 |
|
|
|
430 |
|
|
|
5 |
|
|
|
435 |
|
|
|
— |
|
|
|
321 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Loans
|
|
$ |
11,399 |
|
|
$ |
8,437 |
|
|
$ |
2,962 |
|
|
$ |
11,399 |
|
|
$ |
1,167 |
|
|
$ |
11,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restructured Loans Segregated by Class |
The following
table presents restructured loans segregated by class (in
thousands, except number of loans):
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2012 |
|
Number of
Loans |
|
|
Pre-Modification
Outstanding
Recorded
Investment |
|
|
Post-Modification
Outstanding
Recorded
Investment |
|
Commercial real
estate
|
|
|
4 |
|
|
$ |
6,850 |
|
|
$ |
5,602 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
4 |
|
|
$ |
6,850 |
|
|
$ |
5,602 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2011 |
|
Number of
Loans |
|
|
Pre-Modification
Outstanding
Recorded
Investment |
|
|
Post-Modification
Outstanding
Recorded
Investment |
|
Commercial real
estate
|
|
|
1 |
|
|
$ |
1,699 |
|
|
$ |
1,459 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
1 |
|
|
$ |
1,699 |
|
|
$ |
1,459 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Restructured Loans |
Changes in the
Company’s restructured loans are set forth in the table
below:
|
|
|
|
|
|
|
|
|
|
|
Number
of Loans |
|
|
Recorded
Investment |
|
Totals at January 1,
2012
|
|
|
1 |
|
|
$ |
1,459 |
|
Additional loans with
concessions
|
|
|
3 |
|
|
|
4,878 |
|
Reductions due
to:
|
|
|
|
|
|
|
|
|
Writedown
|
|
|
|
|
|
|
(634 |
) |
Principal
paydowns
|
|
|
|
|
|
|
(101 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Total at December 31,
2012
|
|
|
4 |
|
|
$ |
5,602 |
|
|
|
|
|
|
|
|
|
|
|
Detailed Amount of Gross Loans by Loan Grade and Class |
The following table details
the amount of gross loans by loan grade and class for the year
ended December 31, 2012 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grades |
|
Satisfactory
1, 2, 3,4 |
|
|
Special
Mention
5,6 |
|
|
Substandard
7 |
|
|
Doubtful
8 |
|
|
Loss
9 |
|
|
Total
Loans |
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Land Development and
Construction
|
|
$ |
10,596 |
|
|
$ |
1,890 |
|
|
$ |
269 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
12,755 |
|
Farmland
|
|
|
27,069 |
|
|
|
2,701 |
|
|
|
1,893 |
|
|
|
— |
|
|
|
— |
|
|
|
31,663 |
|
1-4 Family
Mortgages
|
|
|
97,630 |
|
|
|
6,177 |
|
|
|
12,030 |
|
|
|
— |
|
|
|
— |
|
|
|
115,837 |
|
Commercial Real
Estate
|
|
|
108,914 |
|
|
|
6,728 |
|
|
|
16,853 |
|
|
|
— |
|
|
|
— |
|
|
|
132,495 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Real Estate
Loans
|
|
|
244,209 |
|
|
|
17,496 |
|
|
|
31,045 |
|
|
|
— |
|
|
|
— |
|
|
|
292,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and Industrial
Loans
|
|
|
41,449 |
|
|
|
3,486 |
|
|
|
601 |
|
|
|
28 |
|
|
|
— |
|
|
|
45,564 |
|
Farm Production and other
Farm Loans
|
|
|
1,358 |
|
|
|
26 |
|
|
|
49 |
|
|
|
— |
|
|
|
— |
|
|
|
1,433 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Business
Loans
|
|
|
42,807 |
|
|
|
3,512 |
|
|
|
650 |
|
|
|
28 |
|
|
|
— |
|
|
|
46,997 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit Cards
|
|
|
1,020 |
|
|
|
—
|
|
|
|
30 |
|
|
|
— |
|
|
|
— |
|
|
|
1,050 |
|
Other Consumer
Loans
|
|
|
26,995 |
|
|
|
287 |
|
|
|
1,029 |
|
|
|
28 |
|
|
|
2 |
|
|
|
28,341 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer
Loans
|
|
|
28,015 |
|
|
|
287 |
|
|
|
1,059 |
|
|
|
28 |
|
|
|
2 |
|
|
|
29,391 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Loans
|
|
$ |
315,031 |
|
|
$ |
21,295 |
|
|
$ |
32,754 |
|
|
$ |
56 |
|
|
$ |
2 |
|
|
$ |
369,138 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table details
the amount of gross loans by loan grade and class for the year
ended December 31, 2011:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grades |
|
Satisfactory
1, 2, 3,4 |
|
|
Special
Mention
5,6 |
|
|
Substandard
7 |
|
|
Doubtful
8 |
|
|
Loss
9 |
|
|
Total
Loans |
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Land Development and
Construction
|
|
$ |
9,647 |
|
|
$ |
2,290 |
|
|
$ |
1,481 |
|
|
$ |
— |
|
|
$ |
62 |
|
|
$ |
13,480 |
|
Farmland
|
|
|
31,405 |
|
|
|
3,043 |
|
|
|
1,464 |
|
|
|
— |
|
|
|
— |
|
|
|
35,912 |
|
1-4 Family
Mortgages
|
|
|
115,365 |
|
|
|
5,784 |
|
|
|
12,811 |
|
|
|
27 |
|
|
|
— |
|
|
|
133,987 |
|
Commercial Real
Estate
|
|
|
108,347 |
|
|
|
7,188 |
|
|
|
13,852 |
|
|
|
— |
|
|
|
— |
|
|
|
129,387 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Real Estate
Loans
|
|
|
264,764 |
|
|
|
18,305 |
|
|
|
29,608 |
|
|
|
27 |
|
|
|
62 |
|
|
|
312,766 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and Industrial
Loans
|
|
|
27,970 |
|
|
|
7,712 |
|
|
|
863 |
|
|
|
36 |
|
|
|
— |
|
|
|
36,581 |
|
Farm Production and other
Farm Loans
|
|
|
1,481 |
|
|
|
8 |
|
|
|
90 |
|
|
|
— |
|
|
|
— |
|
|
|
1,579 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Business
Loans
|
|
|
29,451 |
|
|
|
7,720 |
|
|
|
953 |
|
|
|
36 |
|
|
|
— |
|
|
|
38,160 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit Cards
|
|
|
978 |
|
|
|
—
|
|
|
|
17 |
|
|
|
— |
|
|
|
— |
|
|
|
995 |
|
Other Consumer
Loans
|
|
|
35,859 |
|
|
|
325 |
|
|
|
1,304 |
|
|
|
53 |
|
|
|
4 |
|
|
|
37,545 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer
Loans
|
|
|
36,837 |
|
|
|
325 |
|
|
|
1,321 |
|
|
|
53 |
|
|
|
4 |
|
|
|
38,540 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Loans
|
|
$ |
331,052 |
|
|
$ |
26,350 |
|
|
$ |
31,882 |
|
|
$ |
116 |
|
|
$ |
66 |
|
|
$ |
389,466 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (Chargeoffs) Recoveries, Segregated by Class of Loans |
Net
(chargeoffs) recoveries, segregated by class of loans, were as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2012 |
|
|
2011 |
|
|
2010 |
|
Real Estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
Land Development and
Construction
|
|
$ |
(87,917 |
) |
|
$ |
(60,964 |
) |
|
$ |
(175,771 |
) |
Farmland
|
|
|
2,386 |
|
|
|
(423,078 |
) |
|
|
(140,866 |
) |
1-4 Family
Mortgages
|
|
|
(220,591 |
) |
|
|
(911,026 |
) |
|
|
(623,445 |
) |
Commercial Real
Estate
|
|
|
(854,847 |
) |
|
|
(79,236 |
) |
|
|
(99,899 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Real Estate
Loans
|
|
|
(1,160,969 |
) |
|
|
(1,474,304 |
) |
|
|
(1,039,981 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and Industrial
Loans
|
|
|
936 |
|
|
|
(994,522 |
) |
|
|
(244,382 |
) |
Farm Production and other
Farm Loans
|
|
|
(3,436 |
) |
|
|
(4,671 |
) |
|
|
(10,487 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Business
Loans
|
|
|
(2,500 |
) |
|
|
(999,193 |
) |
|
|
(254,869 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
Credit Cards
|
|
|
(9,441 |
) |
|
|
(43,763 |
) |
|
|
(39,881 |
) |
Other Consumer
Loans
|
|
|
(100,030 |
) |
|
|
(175,824 |
) |
|
|
(267,916 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer
Loans
|
|
|
(109,471 |
) |
|
|
(219,587 |
) |
|
|
(307,797 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net
Chargeoffs
|
|
$ |
(1,272,940 |
) |
|
$ |
(2,693,084 |
) |
|
$ |
(1,602,647 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Detailed Activity in Allowance for Loan Losses by Portfolio Segment |
The following
table details activity in the allowance for loan losses by
portfolio segment for the years ended December 31, 2012, 2011
and 2010:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2012 |
|
Real
Estate |
|
|
Business
Loans |
|
|
Consumer |
|
|
Total |
|
|
|
|
|
|
Beginning
Balance
|
|
$ |
4,176,475 |
|
|
$ |
1,672,467 |
|
|
$ |
832,470 |
|
|
$ |
6,681,412 |
|
|
|
|
|
|
Provision for loan
losses
|
|
|
1,614,053 |
|
|
|
(115,269 |
) |
|
|
47,013 |
|
|
|
1,545,797 |
|
|
|
|
|
|
Chargeoffs
|
|
|
1,218,879 |
|
|
|
55,390 |
|
|
|
229,926 |
|
|
|
1,504,195 |
|
|
|
|
|
|
Recoveries
|
|
|
57,910 |
|
|
|
52,890 |
|
|
|
120,455 |
|
|
|
231,255 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Chargeoffs
|
|
|
1,160,969 |
|
|
|
2,500 |
|
|
|
109,471 |
|
|
|
1,272,940 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
4,629,559 |
|
|
$ |
1,554,698 |
|
|
$ |
770,012 |
|
|
$ |
6,954,269 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period end allowance
allocated to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans individually
evaluated for impairment
|
|
|
1,038,521 |
|
|
|
54,706 |
|
|
|
— |
|
|
|
1,093,227 |
|
|
|
|
|
|
Loans collectively
evaluated for impairment
|
|
|
3,591,038 |
|
|
|
1,499,992 |
|
|
|
770,012 |
|
|
|
5,861,042 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
4,629,559 |
|
|
$ |
1,554,698 |
|
|
$ |
770,012 |
|
|
$ |
6,954,269 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2011 |
|
Real
Estate |
|
|
Business
Loans |
|
|
Consumer |
|
|
Total |
|
|
|
|
|
|
Beginning
Balance
|
|
$ |
4,306,691 |
|
|
$ |
1,104,706 |
|
|
$ |
967,673 |
|
|
$ |
6,379,070 |
|
|
|
|
|
|
Provision for loan
losses
|
|
|
1,344,088 |
|
|
|
1,566,954 |
|
|
|
84,384 |
|
|
|
2,995,426 |
|
|
|
|
|
|
Chargeoffs
|
|
|
1,500,400 |
|
|
|
1,011,458 |
|
|
|
306,123 |
|
|
|
2,817,981 |
|
|
|
|
|
|
Recoveries
|
|
|
26,096 |
|
|
|
12,265 |
|
|
|
86,536 |
|
|
|
124,897 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Chargeoffs
|
|
|
1,474,304 |
|
|
|
999,193 |
|
|
|
219,587 |
|
|
|
2,693,084 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
4,176,475 |
|
|
$ |
1,672,467 |
|
|
$ |
832,470 |
|
|
$ |
6,681,412 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period end allowance
allocated to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans individually
evaluated for impairment
|
|
|
1,109,209 |
|
|
|
57,325 |
|
|
|
— |
|
|
|
1,166,594 |
|
|
|
|
|
|
Loans collectively
evaluated for impairment
|
|
|
3,067,266 |
|
|
|
1,615,142 |
|
|
|
832,470 |
|
|
|
5,514,818 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
4,176,475 |
|
|
$ |
1,672,467 |
|
|
$ |
832,470 |
|
|
$ |
6,681,412 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2010 |
|
Real
Estate |
|
|
Business
Loans |
|
|
Consumer |
|
|
Total |
|
|
|
|
|
|
Beginning
Balance
|
|
$ |
3,356,197 |
|
|
$ |
1,162,613 |
|
|
$ |
1,007,117 |
|
|
$ |
5,525,927 |
|
|
|
|
|
|
Provision for loan
losses
|
|
|
1,990,475 |
|
|
|
196,962 |
|
|
|
268,353 |
|
|
|
2,455,790 |
|
|
|
|
|
|
Chargeoffs
|
|
|
1,062,599 |
|
|
|
352,745 |
|
|
|
399,117 |
|
|
|
1,814,461 |
|
|
|
|
|
|
Recoveries
|
|
|
22,618 |
|
|
|
97,876 |
|
|
|
91,320 |
|
|
|
211,814 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Chargeoffs
|
|
|
1,039,981 |
|
|
|
254,869 |
|
|
|
307,797 |
|
|
|
1,602,647 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
4,306,691 |
|
|
$ |
1,104,706 |
|
|
$ |
967,673 |
|
|
$ |
6,379,070 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period end allowance
allocated to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans individually
evaluated for impairment
|
|
|
1,263,306 |
|
|
|
194,301 |
|
|
|
20,799 |
|
|
|
1,478,406 |
|
|
|
|
|
|
Loans collectively
evaluated for impairment
|
|
|
3,043,385 |
|
|
|
910,405 |
|
|
|
946,874 |
|
|
|
4,900,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
4,306,691 |
|
|
$ |
1,104,706 |
|
|
$ |
967,673 |
|
|
$ |
6,379,070 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recorded Investment in Loans Related to Balance in Allowance for Possible Loan Losses by Portfolio Segment |
The
Company’s recorded investment in loans as of
December 31, 2012 and 2011 related to each balance in the
allowance for possible loan losses by portfolio segment and
disaggregated on the basis of the Company’s impairment
methodology was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2012 |
|
Real Estate |
|
|
Business
Loans |
|
|
Consumer |
|
|
Total |
|
|
|
|
|
|
Loans individually
evaluated for impairment
|
|
$ |
13,760 |
|
|
$ |
170 |
|
|
$ |
212 |
|
|
$ |
14,142 |
|
|
|
|
|
|
Loans collectively
evaluated for impairment
|
|
|
278,990 |
|
|
|
46,827 |
|
|
|
29,179 |
|
|
|
354,996 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
292,750 |
|
|
$ |
46,997 |
|
|
$ |
29,391 |
|
|
$ |
369,138 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2011 |
|
Real Estate |
|
|
Business
Loans |
|
|
Consumer |
|
|
Total |
|
|
|
|
|
|
Loans individually
evaluated for impairment
|
|
$ |
10,659 |
|
|
$ |
305 |
|
|
$ |
435 |
|
|
$ |
11,399 |
|
|
|
|
|
|
Loans collectively
evaluated for impairment
|
|
|
302,107 |
|
|
|
37,855 |
|
|
|
38,105 |
|
|
|
378,067 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
312,766 |
|
|
$ |
38,160 |
|
|
$ |
38,540 |
|
|
$ |
389,466 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|