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Loans and Allowance (Tables)
 12 Months Ended
Dec. 31, 2012
Categories of Loans

Classes of loans at December 31, 2012 and 2011 include:

 

    2012     2011  
Commercial                
Real estate   $ 203,613     $ 197,390  
Construction and development     17,462       20,831  
Other     67,773       64,628  
      288,848       282,849  
                 
Residential mortgage     502,619       434,976  
                 
Consumer loans                
Real estate     100,516       96,864  
Auto     15,572       15,203  
Boat/RVs     76,416       83,557  
Other     6,598       6,760  
      199,102       202,384  
Total loans     990,569       920,209  
Undisbursed loans in process     (7,418 )     (5,352 )
Unamortized deferred loan costs, net     2,432       2,418  
Allowance for loan losses     (16,038 )     (16,815 )
                 
Net loans   $ 969,545     $ 900,460  
Non-Accrual Loans Segregated by Class of Loans

Year-end non-accrual loans, segregated by class of loans, were as follows:

 

    2012     2011  
Commercial                
Real estate   $ 2,450     $ 7,592  
Construction and development     5,989       9,314  
Other     1,315       1,160  
Residential mortgage     10,791       10,080  
Consumer loans                
Real estate     1,656       2,081  
Auto     37       24  
Boat/RVs     1,076       371  
Other     96       89  
                 
    $ 23,410     $ 30,711  
Age Analysis of Past Due Loans Segregated by Class of Loans

An age analysis of the Company’s past due loans, segregated by class of loans, as of December 31, 2012 and 2011 are as follows:

 

    December 31, 2012  
    30-59 Days
Past Due		     60-89 Days
Past Due		     Greater
Than 90
Days		     Total Past
Due		     Current     Total Loans
Receivable		     Total Loans
> 90 Days
and
Accruing		  
Commercial                                                        
Real Estate   $ 1,097     $ 992     $ 2,350     $ 4,439     $ 199,174     $ 203,613     $ —  
Construction and development     192       —       4,912       5,104       12,358       17,462       —  
Other     259       223       735       1,217       66,556       67,773       —  
                                                         
Residential mortgage     12,487       2,732       8,356       23,575       479,044       502,619       177  
Consumer                                                        
Real estate     1,302       358       1,119       2,779       97,737       100,516       —  
Auto     47       18       15       80       15,492       15,572       —  
Boat/RV     1,508       756       497       2,761       73,655       76,416       —  
Other     234       21       95       350       6,248       6,598       96  
                                                         
    $ 17,126     $ 5,100     $ 18,079     $ 40,305     $ 950,264     $ 990,569     $ 273  

 

    December 31, 2011  
    30-59 Days
Past Due		     60-89 Days
Past Due		     Greater
Than 90
Days		     Total Past
Due		     Current     Total Loans
Receivable		     Total Loans
> 90 Days
and
Accruing		  
Commercial                                                        
Real Estate   $ 870     $ 1,023     $ 7,592     $ 9,485     $ 187,905     $ 197,390     $ —  
Construction and development     845       —       9,314       10,159       10,672       20,831       —  
Other     791       99       1,160       2,050       62,578       64,628       —  
                                                         
Residential mortgage     13,309       3,427       11,207       27,943       407,033       434,976       1,127  
Consumer                                                        
Real estate     1,395       1,167       2,081       4,643       92,221       96,864       —  
Auto     143       28       24       195       15,008       15,203       —  
Boat/RV     2,084       825       371       3,280       80,277       83,557       —  
Other     227       5       89       321       6,439       6,760       —  
                                                         
    $ 19,664     $ 6,574     $ 31,838     $ 58,076     $ 862,133     $ 920,209     $ 1,127  
Impaired Loans

The following tables present impaired loans for the years ended December 31, 2012 and 2011:

 

    December 31, 2012  
    Recorded
Balance		     Unpaid
Principal
Balance		     Specific
Allowance		     Average
Investment in
Impaired
Loans		     Interest
Income
Recognized		  
Loans without a specific valuation allowance                                        
Commercial                                        
Real estate   $ 5,341     $ 6,354     $ —     $ 5,384     $ 248  
Construction and development     3,632       7,078       —       4,884       30  
Other     972       972       —       2,828       117  
Residential mortgage     2,583       3,522       —       3,755       58  
                                         
Loans with a specific valuation allowance                                        
Commercial                                        
Real estate     208       947       100       211       12  
Construction and development     4,639       5,157       959       5,230       78  
Other     912       912       257       921       30  
Residential mortgage     834       834       57       654       —  
                                         
Total                                        
Commercial                                        
Real estate   $ 5,549     $ 7,301     $ 100     $ 5,595     $ 260  
Construction and development   $ 8,271     $ 12,235     $ 959     $ 10,114     $ 108  
Other   $ 1,884     $ 1,884     $ 257     $ 3,749     $ 147  
Residential mortgage   $ 3,417     $ 4,356     $ 57     $ 4,409     $ 58  

 

 

    December 31, 2011  
    Recorded
Balance		     Unpaid
Principal
Balance		     Specific
Allowance		     Average
Investment in
Impaired
Loans		     Interest
Income
Recognized		  
Loans without a specific valuation allowance                                        
Commercial                                        
Real estate   $ 4,883     $ 5,275     $ —     $ 4,221     $ 137  
Construction and development     5,872       11,801       —       9,451       348  
Other     4,030       4,167       —       1,480       211  
Residential mortgage     5,378       6,870       —       5,532       142  
                                         
Loans with a specific valuation allowance                                        
Commercial                                        
Real estate     2,083       2,489       209       1,086       74  
Construction and development     7,071       7,281       1,437       3,775       233  
Other     1,470       1,524       543       246       60  
Residential mortgage     537       537       36       67       36  
                                         
Total                                        
Commercial                                        
Real estate   $ 6,966     $ 7,764     $ 209     $ 5,307     $ 211  
Construction and development   $ 12,943     $ 19,082     $ 1,437     $ 13,226     $ 581  
Other   $ 5,500     $ 5,691     $ 543     $ 1,726     $ 271  
Residential mortgage   $ 5,915     $ 7,407     $ 36     $ 5,599     $ 178  

 

    December 31, 2010  
    Average
Investment in
Impaired
Loans		     Interest
Income
Recognized		  
Loans without a specific valuation allowance                
Commercial                
Real estate   $ 3,826     $ 137  
Construction and development     2,390       27  
Other     388       12  
Residential mortgage     4,580       183  
                 
Loans with a specific valuation allowance                
Commercial                
Real estate     5,395       329  
Construction and development     4,238       226  
Residential mortgage     128       —  
                 
Total                
Commercial                
Real estate   $ 9,221     $ 466  
Construction and development   $ 6,628     $ 253  
Other   $ 388     $ 12  
Residential mortgage   $ 4,708     $ 183  
Commercial and Retail Credit Exposure Credit Risk Profile by Internal Rating

This would include all retail loans over 90 days and troubled debt restructurings.

 

December 31, 2012
Commercial Credit Exposure Credit Risk Profile
Internal Rating   Real estate     Construction and
Development		     Other  
                   
Pass   $ 185,794     $ 9,314     $ 63,413  
Special Mention     6,692       172       255  
Substandard     11,127       7,976       3,281  
Doubtful     —       —       824  
                         
Total   $ 203,613     $ 17,462     $ 67,773  

 

Retail Credit Exposure Credit Risk Profile
    Residential     Consumer  
    Mortgage     Real Estate     Auto     Boat/RV     Other  
                               
Pass   $ 486,027     $ 97,972     $ 15,533     $ 75,026     $ 6,434  
Special Mention     2,012       —       —       —       —  
Substandard     14,580       2,544       39       1,390       164  
                                         
Total   $ 502,619     $ 100,516     $ 15,572     $ 76,416     $ 6,598  

 

 

 

 December 31, 2011
Commercial Credit Exposure Credit Risk Profile
Internal Rating   Real estate     Construction and
Development		     Other  
                   
Pass   $ 167,991     $ 8,093     $ 56,691  
Special Mention     11,940       538       880  
Substandard     16,488       12,105       6,260  
Doubtful     971       95       797  
                         
Total   $ 197,390     $ 20,831     $ 64,628  

 

Retail Credit Exposure Credit Risk Profile
    Residential     Consumer  
    Mortgage     Real Estate     Auto     Boat/RV     Other  
                               
Pass   $ 417,772     $ 94,066     $ 15,135     $ 82,639     $ 6,680  
Special Mention     2,473     —       —       —       —  
Substandard     14,731       2,798       68       918       80  
                                         
Total   $ 434,976     $ 96,864     $ 15,203     $ 83,557     $ 6,760  
Activity in Allowance for Loan Losses by Portfolio Segment

The following tables detail activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2012, 2011 and 2010. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses on other segments.

 

    December 31, 2012  
    Commercial     Mortgage     Consumer     Total  
Allowance for loan losses:                                
Balance, beginning of year   $ 10,602     $ 3,444     $ 2,769     $ 16,815  
Provision charged to expense     3,213       1,612       1,200       6,025  
Losses charged off     (4,493 )     (1,901 )     (1,608 )     (8,002 )
Recoveries     586       239       375       1,200  
                                 
Balance, end of period   $ 9,908     $ 3,394     $ 2,736     $ 16,038  
                                 
Ending balance:                                
Individually evaluated for impairment   $ 1,316     $ 57     $ —     $ 1,373  
Collectively evaluated for impairment   $ 8,592     $ 3,337     $ 2,736     $ 14,665  
                                 
Loans:                                
Ending balance                                
Individually evaluated for impairment   $ 15,704     $ 3,417     $ —     $ 19,121  
Collectively evaluated for impairment   $ 273,144     $ 499,202     $ 199,102     $ 971,448  

 

    December 31, 2011  
    Commercial     Mortgage     Consumer     Total  
Allowance for loan losses:                                
Balance, beginning of year   $ 10,124     $ 2,212     $ 4,036     $ 16,372  
Provision charged to expense     8,592       4,390       118       13,100  
Losses charged off     (8,260 )     (3,432 )     (2,126 )     (13,818 )
Recoveries     146       274       741       1,161  
                                 
Balance, end of period   $ 10,602     $ 3,444     $ 2,769     $ 16,815  
                                 
Ending balance:                                
Individually evaluated for impairment   $ 2,189     $ 36     $ —     $ 2,225  
Collectively evaluated for impairment   $ 8,413     $ 3,408     $ 2,769     $ 14,590  
                                 
Loans:                                
Ending balance                                
Individually evaluated for impairment   $ 25,409     $ 5,915     $ —     $ 31,324  
Collectively evaluated for impairment   $ 257,440     $ 429,061     $ 202,384     $ 888,885  

 

 

 

    December 31, 2010  
    Commercial     Mortgage     Consumer     Total  
Allowance for loan losses:                                
Balance, beginning of year   $ 10,003     $ 2,359     $ 4,052     $ 16,414  
Provision charged to expense     1,780       2,900       2,370       7,050  
Losses charged off     (1,752 )     (3,345 )     (3,195 )     (8,292 )
Recoveries     93       298       809       1,200  
                                 
Balance, end of period   $ 10,124     $ 2,212     $ 4,036     $ 16,372  
                                 
Ending balance:                                
Individually evaluated for impairment   $ 1,340     $ 69     $ —     $ 1,409  
Collectively evaluated for impairment   $ 8,784     $ 2,143     $ 4,036     $ 14,963  
                                 
Loans:                                
Ending balance                                
Individually evaluated for impairment   $ 20,309     $ 6,928     $ —     $ 27,237  
Collectively evaluated for impairment   $ 293,622     $ 451,091     $ 227,785     $ 972,498  
Troubled Debts Restructured

The following tables describe troubled debts restructured during the years ended December 31, 2012 and 2011.

 

December 31, 2012
          Pre-Modification     Post-Modification  
          Outstanding     Outstanding  
    No. of Loans     Recorded Balance     Recorded Balance  
Commercial                        
Real estate     10     $ 2,239     $ 2,399  
Construction and development     3       1,047       1,133  
Other     6       325       386  
Residential mortgage     43       3,477       3,713  
Consumer                        
Real estate     28       972       975  
Auto     4       34       33  
Boat/RV     7       154       153  
Other     4       53       52  

 

December 31, 2011
          Pre-Modification     Post-Modification  
          Outstanding     Outstanding  
    No. of Loans     Recorded Balance     Recorded Balance  
Commercial                        
Real estate     6     $ 1,931     $ 1,887  
Construction and development     3       4,146       4,146  
Other     2       396       396  
Residential mortgage     27       2,898       3,020  
Consumer                        
Real estate     31       831       854  
Auto     1       10       10  
Boat/RV     13       395       376  
Other     1       14       3  
Newly Restructured Loans by Types

Newly restructured loans by type for the years ended December 31, 2012 and 2011 are as follows:

 

    December 31, 2012  
    Interest Only     Term     Combination     Total
Modification		  
Commercial                                
Real Estate   $ —     $ 1,281     $ 1,118     $ 2,399  
Construction and development     —       961       172       1,133  
Other     —       143       243       386  
Residential mortgage     320       961       2,432       3,713  
Consumer                                
Real estate     —       117       858       975  
Auto     —       29       4       33  
Boat/RV     —       153       —       153  
Other     —       8       44       52  

 

    December 31, 2011  
    Interest Only     Term     Combination     Total
Modification		  
Commercial                                
Real Estate   $ 885     $ 494     $ 508     $ 1,887  
Construction and development     —       4,146       —       4,146  
Other     —       293       103       396  
Residential mortgage     1,471       11       1,538       3,020  
Consumer                                
Real estate     —       133       721       854  
Auto     —       10       —       10  
Boat/RV     75       208       93       376  
Other     —       3       —       3  
Troubled Debts Restructured Defaulted

Defaults of any loans modified as troubled debt restructurings made in the years ended December 31, 2012 and 2011, respectively, are listed in the table below. Defaults are defined as any loans that become 90 days past due.

 

December 31, 2012
          Post-Modification Outstanding  
    No. of Loans     Recorded Balance  
Commercial                
Real estate     1     $ 109  
Other     1       518  
Residential mortgage     2       61  
Consumer                
Other     1       14  

 

December 31, 2011
          Post-Modification Outstanding  
    No. of Loans     Recorded Balance  
Residential mortgage     3     $ 733  
Consumer                
Other     2       48