Allowance For Credit Losses |
Changes in the allowance for credit losses were as follows (in thousands): | | | | | | | | | | | | | | | | Years Ended December 31, | | | 2013 | | 2012 | | 2011 | Balance, beginning of year | | $ | 10,133 |
| | $ | 11,396 |
| | $ | 11,014 |
| Provision charged to operations | | — |
| | 700 |
| | 1,050 |
| Losses charged to allowance | | (1,446 | ) | | (2,850 | ) | | (1,532 | ) | Recoveries | | 521 |
| | 887 |
| | 864 |
| Balance, end of year | | $ | 9,208 |
| | $ | 10,133 |
| | $ | 11,396 |
|
The following table shows the summary of activities for the allowance for credit losses as of and for the years ended December 31, 2013 and 2012 by portfolio segment (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | Commercial | | Real Estate | | Consumer | | Unallocated | | Total | Allowance for credit losses: | | |
| | |
| | |
| | |
| | |
| Beginning balance, January 1, 2013 | | $ | 2,676 |
| | $ | 5,877 |
| | $ | 1,541 |
| | $ | 39 |
| | $ | 10,133 |
| Provision charged to operations | | 166 |
| | (434 | ) | | (115 | ) | | 383 |
| | — |
| Losses charged to allowance | | (713 | ) | | (285 | ) | | (448 | ) | | — |
| | (1,446 | ) | Recoveries | | 315 |
| | 16 |
| | 190 |
| | — |
| | 521 |
| Ending balance, December 31, 2013 | | $ | 2,444 |
| | $ | 5,174 |
| | $ | 1,168 |
| | $ | 422 |
| | $ | 9,208 |
| | | | | | | | | | | | Allowance for credit losses: | | |
| | |
| | |
| | |
| | |
| Beginning balance, January 1, 2012 | | $ | 2,266 |
| | $ | 7,155 |
| | $ | 1,836 |
| | $ | 139 |
| | $ | 11,396 |
| Provision charged to operations | | 18 |
| | 643 |
| | 139 |
| | (100 | ) | | 700 |
| Losses charged to allowance | | (123 | ) | | (1,966 | ) | | (761 | ) | | — |
| | (2,850 | ) | Recoveries | | 515 |
| | 45 |
| | 327 |
| | — |
| | 887 |
| Ending balance, December 31, 2012 | | $ | 2,676 |
| | $ | 5,877 |
| | $ | 1,541 |
| | $ | 39 |
| | $ | 10,133 |
|
The following is a summary of the allowance for credit losses by impairment methodology and portfolio segment as of December 31, 2013 and December 31, 2012 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | Commercial | | Real Estate | | Consumer | | Unallocated | | Total | Allowance for credit losses: | | |
| | |
| | |
| | |
| | |
| Ending balance, December 31, 2013 | | $ | 2,444 |
| | $ | 5,174 |
| | $ | 1,168 |
| | $ | 422 |
| | $ | 9,208 |
| Ending balance: individually evaluated for impairment | | $ | 469 |
| | $ | 465 |
| | $ | 73 |
| | $ | — |
| | $ | 1,007 |
| Ending balance: collectively evaluated for impairment | | $ | 1,975 |
| | $ | 4,709 |
| | $ | 1,095 |
| | $ | 422 |
| | $ | 8,201 |
| | | | | | | | | | | | Ending balance, December 31, 2012 | | $ | 2,676 |
| | $ | 5,877 |
| | $ | 1,541 |
| | $ | 39 |
| | $ | 10,133 |
| Ending balance: individually evaluated for impairment | | $ | 40 |
| | $ | 465 |
| | $ | 5 |
| | $ | — |
| | $ | 510 |
| Ending balance: collectively evaluated for impairment | | $ | 2,636 |
| | $ | 5,412 |
| | $ | 1,536 |
| | $ | 39 |
| | $ | 9,623 |
|
The table above excludes the recorded investment in loans acquired with deteriorated quality of $2,465,000 with no allowance at December 31, 2013. The following table shows the ending balances of loans as of December 31, 2013 and December 31, 2012 by portfolio segment and by impairment methodology (in thousands): | | | | | | | | | | | | | | | | | | | | Commercial | | Real Estate | | Consumer | | Total | Loans: | | |
| | |
| | |
| | |
| Ending balance, December 31, 2013 | | $ | 118,731 |
| | $ | 333,939 |
| | $ | 59,846 |
| | $ | 512,516 |
| Ending balance: individually evaluated for impairment | | $ | 1,527 |
| | $ | 9,540 |
| | $ | 2,290 |
| | $ | 13,357 |
| Ending balance: collectively evaluated for impairment | | $ | 117,204 |
| | $ | 324,399 |
| | $ | 57,556 |
| | $ | 499,159 |
| | | | | | | | | | Loans: | | |
| | |
| | |
| | |
| Ending balance, December 31, 2012 | | $ | 104,555 |
| | $ | 237,938 |
| | $ | 53,278 |
| | $ | 395,771 |
| Ending balance: individually evaluated for impairment | | $ | 2,405 |
| | $ | 12,868 |
| | $ | 1,832 |
| | $ | 17,105 |
| Ending balance: collectively evaluated for impairment | | $ | 102,150 |
| | $ | 225,070 |
| | $ | 51,446 |
| | $ | 378,666 |
|
The following table shows the loan portfolio by class allocated by management’s internal risk ratings at December 31, 2013 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | Pass | | Special Mention | | Substandard | | Doubtful | | Total | Commercial: | | | | | | | | | | | Commercial and industrial | | $ | 81,732 |
| | $ | 2,244 |
| | $ | 3,106 |
| | $ | — |
| | $ | 87,082 |
| Agricultural land and production | | 31,649 |
| | — |
| | — |
| | — |
| | 31,649 |
| Real Estate: | | | | | | | | | | | Owner occupied | | 144,082 |
| | 5,229 |
| | 7,470 |
| | — |
| | 156,781 |
| Real estate construction and other land loans | | 31,776 |
| | 3,959 |
| | 6,594 |
| | — |
| | 42,329 |
| Commercial real estate | | 77,589 |
| | 3,718 |
| | 4,810 |
| | — |
| | 86,117 |
| Agricultural real estate | | 42,151 |
| | 2,013 |
| | — |
| | — |
| | 44,164 |
| Other real estate | | 4,548 |
| | — |
| | — |
| | — |
| | 4,548 |
| Consumer: | | | | | | | | | | | Equity loans and lines of credit | | 41,999 |
| | 2,400 |
| | 4,195 |
| | — |
| | 48,594 |
| Consumer and installment | | 10,946 |
| | 46 |
| | 260 |
| | — |
| | 11,252 |
| Total | | $ | 466,472 |
| | $ | 19,609 |
| | $ | 26,435 |
| | $ | — |
| | $ | 512,516 |
|
The following table shows the loan portfolio by class allocated by management’s internally assigned risk grade ratings at December 31, 2012 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | Pass | | Special Mention | | Substandard | | Doubtful | | Total | Commercial: | | | | | | | | | | | Commercial and industrial | | $ | 71,125 |
| | $ | 824 |
| | $ | 6,007 |
| | $ | — |
| | $ | 77,956 |
| Agricultural land and production | | 26,599 |
| | — |
| | — |
| | — |
| | 26,599 |
| Real Estate: | | | | | | | | | | | Owner occupied | | 107,281 |
| | 1,831 |
| | 5,332 |
| | — |
| | 114,444 |
| Real estate construction and other land loans | | 18,517 |
| | 3,377 |
| | 11,305 |
| | — |
| | 33,199 |
| Commercial real estate | | 44,880 |
| | 3,952 |
| | 4,965 |
| | — |
| | 53,797 |
| Agricultural real estate | | 26,883 |
| | 1,517 |
| | — |
| | — |
| | 28,400 |
| Other real estate | | 8,098 |
| | — |
| | — |
| | — |
| | 8,098 |
| Consumer: | | | | | | | | | | | Equity loans and lines of credit | | 40,527 |
| | 258 |
| | 2,147 |
| | — |
| | 42,932 |
| Consumer and installment | | 10,259 |
| | 77 |
| | 10 |
| | — |
| | 10,346 |
| Total | | $ | 354,169 |
| | $ | 11,836 |
| | $ | 29,766 |
| | $ | — |
| | $ | 395,771 |
|
The following table shows an aging analysis of the loan portfolio by class and the time past due at December 31, 2013 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 30-59 Days Past Due | | 60-89 Days Past Due | | Greater Than 90 Days Past Due | | Total Past Due | | Current | | Total Loans | | Recorded Investment > 90 Days Accruing | | Non-accrual | Commercial: | | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Commercial and industrial | | $ | 274 |
| | $ | 236 |
| | $ | — |
| | $ | 510 |
| | $ | 86,572 |
| | $ | 87,082 |
| | $ | — |
| | $ | 1,527 |
| Agricultural land and production | | — |
| | — |
| | — |
| | — |
| | 31,649 |
| | 31,649 |
| | — |
| | — |
| Real estate: | | — |
| | |
| | |
| |
|
| | — |
| | — |
| | |
| | | Owner occupied | | 1,272 |
| | 134 |
| | 418 |
| | 1,824 |
| | 154,957 |
| | 156,781 |
| | — |
| | 2,161 |
| Real estate construction and other land loans | | — |
| | — |
| | — |
| | — |
| | 42,329 |
| | 42,329 |
| | — |
| | 1,450 |
| Commercial real estate | | — |
| | — |
| | — |
| | — |
| | 86,117 |
| | 86,117 |
| | — |
| | 158 |
| Agricultural real estate | | — |
| | — |
| | — |
| | — |
| | 44,164 |
| | 44,164 |
| | — |
| | — |
| Other real estate | | — |
| | — |
| | — |
| | — |
| | 4,548 |
| | 4,548 |
| | — |
| | — |
| Consumer: | | | | |
| | |
| |
|
| | — |
| | — |
| | |
| | | Equity loans and lines of credit | | 10 |
| | 147 |
| | 252 |
| | 409 |
| | 48,185 |
| | 48,594 |
| | — |
| | 2,286 |
| Consumer and installment | | 86 |
| | — |
| | — |
| | 86 |
| | 11,166 |
| | 11,252 |
| | — |
| | 4 |
| Total | | $ | 1,642 |
| | $ | 517 |
| | $ | 670 |
| | $ | 2,829 |
| | $ | 509,687 |
| | $ | 512,516 |
| | $ | — |
| | $ | 7,586 |
|
The following table shows an aging analysis of the loan portfolio by class and the time past due at December 31, 2012 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 30-59 Days Past Due | | 60-89 Days Past Due | | Greater Than 90 Days Past Due | | Total Past Due | | Current | | Total Loans | | Recorded Investment > 90 Days Accruing | | Non- accrual | Commercial: | | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| Commercial and industrial | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 77,956 |
| | $ | 77,956 |
| | $ | — |
| | $ | — |
| Agricultural land and production | | — |
| | — |
| | — |
| | — |
| | 26,599 |
| | 26,599 |
| | — |
| | — |
| Real estate: | | — |
| | |
| | |
| | | | |
| | — |
| | |
| | | Owner occupied | | — |
| | 213 |
| | — |
| | 213 |
| | 114,231 |
| | 114,444 |
| | — |
| | 1,575 |
| Real estate construction and other land loans | | — |
| | — |
| | — |
| | — |
| | 33,199 |
| | 33,199 |
| | — |
| | 6,288 |
| Commercial real estate | | — |
| | — |
| | — |
| | — |
| | 53,797 |
| | 53,797 |
| | — |
| | — |
| Agricultural real estate | | — |
| | — |
| | — |
| | — |
| | 28,400 |
| | 28,400 |
| | — |
| | — |
| Other real estate | | — |
| | — |
| | — |
| | — |
| | 8,098 |
| | 8,098 |
| | — |
| | — |
| Consumer: | | |
| | |
| | |
| | | | |
| | — |
| | |
| | | Equity loans and lines of credit | | — |
| | — |
| | — |
| | — |
| | 42,932 |
| | 42,932 |
| | — |
| | 1,832 |
| Consumer and installment | | 27 |
| | — |
| | — |
| | 27 |
| | 10,319 |
| | 10,346 |
| | — |
| | — |
| Total | | $ | 27 |
| | $ | 213 |
| | $ | — |
| | $ | 240 |
| | $ | 395,531 |
| | $ | 395,771 |
| | $ | — |
| | $ | 9,695 |
|
The following table shows information related to impaired loans by class at December 31, 2013 (in thousands): | | | | | | | | | | | | | | | | Recorded Investment | | Unpaid Principal Balance | | Related Allowance | With no related allowance recorded: | | |
| | |
| | |
| Commercial: | | |
| | |
| | |
| Commercial and industrial | | $ | 350 |
| | $ | 385 |
| | $ | — |
| Agricultural land and production | | — |
| | — |
| | — |
| Total commercial | | 350 |
| | 385 |
| | — |
| Real estate: | | |
| | |
| | |
| Owner occupied | | 3,160 |
| | 4,159 |
| | — |
| Real estate construction and other land loans | | 1,449 |
| | 2,136 |
| | — |
| Commercial real estate | | 502 |
| | 891 |
| | — |
| Agricultural real estate | | — |
| | — |
| | — |
| Other real estate | | — |
| | — |
| | — |
| Total real estate | | 5,111 |
| | 7,186 |
| | — |
| Consumer: | | |
| | |
| | |
| Equity loans and lines of credit | | 2,029 |
| | 2,826 |
| | — |
| Consumer and installment | | 4 |
| | 5 |
| | — |
| Total consumer | | 2,033 |
| | 2,831 |
| | — |
| Total with no related allowance recorded | | 7,494 |
| | 10,402 |
| | — |
| | | | | | | | With an allowance recorded: | | |
| | |
| | |
| Commercial: | | |
| | |
| | |
| Commercial and industrial | | 1,177 |
| | 1,222 |
| | 469 |
| Agricultural land and production | | — |
| | — |
| | — |
| Total commercial | | 1,177 |
| | 1,222 |
| | 469 |
| Real estate: | | |
| | |
| | |
| Owner occupied | | 385 |
| | 425 |
| | 3 |
| Real estate construction and other land loans | | 4,044 |
| | 4,044 |
| | 462 |
| Commercial real estate | | — |
| | — |
| | — |
| Agricultural real estate | | — |
| | — |
| | — |
| Other real estate | | — |
| | — |
| | — |
| Total real estate | | 4,429 |
| | 4,469 |
| | 465 |
| Consumer: | | |
| | |
| | |
| Equity loans and lines of credit | | 257 |
| | 264 |
| | 73 |
| Consumer and installment | | — |
| | — |
| | — |
| Total consumer | | 257 |
| | 264 |
| | 73 |
| Total with an allowance recorded | | 5,863 |
| | 5,955 |
| | 1,007 |
| Total | | $ | 13,357 |
| | $ | 16,357 |
| | $ | 1,007 |
|
The recorded investment in loans excludes accrued interest receivable and net loan origination fees, due to immateriality. The following table shows information related to impaired loans by class at December 31, 2012 (in thousands): | | | | | | | | | | | | | | | | Recorded Investment | | Unpaid Principal Balance | | Related Allowance | With no related allowance recorded: | | |
| | |
| | |
| Commercial: | | |
| | |
| | |
| Commercial and industrial | | $ | — |
| | $ | — |
| | $ | — |
| Agricultural land and production | | — |
| | — |
| | — |
| Total commercial | | — |
| | — |
| | — |
| Real estate: | | |
| | |
| | |
| Owner occupied | | — |
| | — |
| | — |
| Real estate construction and other land loans | | 1,352 |
| | 1,888 |
| | — |
| Commercial real estate | | — |
| | — |
| | — |
| Agricultural real estate | | — |
| | — |
| | — |
| Other real estate | | — |
| | — |
| | — |
| Total real estate | | 1,352 |
| | 1,888 |
| | — |
| Consumer: | | |
| | |
| | |
| Equity loans and lines of credit | | 1,523 |
| | 1,834 |
| | — |
| Consumer and installment | | — |
| | — |
| | — |
| Total consumer | | 1,523 |
| | 1,834 |
| | — |
| Total with no related allowance recorded | | 2,875 |
| | 3,722 |
| | — |
| | | | | | | | With an allowance recorded: | | |
| | |
| | |
| Commercial: | | |
| | |
| | |
| Commercial and industrial | | 2,405 |
| | 2,405 |
| | 40 |
| Agricultural land and production | | — |
| | — |
| | — |
| Total commercial | | 2,405 |
| | 2,405 |
| | 40 |
| Real estate: | | |
| | |
| | |
| Owner occupied | | 1,575 |
| | 1,733 |
| | 165 |
| Real estate construction and other land loans | | 9,941 |
| | 10,875 |
| | 300 |
| Commercial real estate | | — |
| | — |
| | — |
| Agricultural real estate | | — |
| | — |
| | — |
| Other real estate | | — |
| | — |
| | — |
| Total real estate | | 11,516 |
| | 12,608 |
| | 465 |
| Consumer: | | |
| | |
| | |
| Equity loans and lines of credit | | 309 |
| | 323 |
| | 5 |
| Consumer and installment | | — |
| | — |
| | — |
| Total consumer | | 309 |
| | 323 |
| | 5 |
| Total with an allowance recorded | | 14,230 |
| | 15,336 |
| | 510 |
| Total | | $ | 17,105 |
| | $ | 19,058 |
| | $ | 510 |
|
The recorded investment in loans excludes accrued interest receivable and net loan origination fees, due to immateriality. The following presents by class, information related to the average recorded investment and interest income recognized on impaired loans for the years ended December 31, 2013, 2012, and 2011 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2013 | | Year Ended December 31, 2012 | | Year Ended December 31, 2011 | | | Average Recorded Investment | | Interest Income Recognized | | Average Recorded Investment | | Interest Income Recognized | | Average Recorded Investment | | Interest Income Recognized | With no related allowance recorded: | | |
| | |
| | |
| | |
| | |
| | |
| Commercial: | | |
| | |
| | |
| | |
| | |
| | |
| Commercial and industrial | | $ | 329 |
| | $ | — |
| | $ | 952 |
| | $ | — |
| | $ | 544 |
| | $ | — |
| Agricultural land and production | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total commercial | | 329 |
| | — |
| | 952 |
| | — |
| | 544 |
| | — |
| Real estate: | | |
| | |
| | |
| | |
| | |
| | |
| Owner occupied | | 2,321 |
| | — |
| | 1,053 |
| | — |
| | 1,100 |
| | — |
| Real estate construction and other land loans | | 2,342 |
| | — |
| | 4,933 |
| | — |
| | 1,690 |
| | — |
| Commercial real estate | | 279 |
| | — |
| | 301 |
| | — |
| | 1,591 |
| | — |
| Agricultural real estate | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Other real estate | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total real estate | | 4,942 |
| | — |
| | 6,287 |
| | — |
| | 4,381 |
| | — |
| Consumer: | | |
| | |
| | |
| | |
| | |
| | |
| Equity loans and lines of credit | | 1,998 |
| | — |
| | 1,561 |
| | — |
| | 357 |
| | — |
| Consumer and installment | | 9 |
| | — |
| | 6 |
| | — |
| | — |
| | — |
| Total consumer | | 2,007 |
| | — |
| | 1,567 |
| | — |
| | 357 |
| | — |
| Total with no related allowance recorded | | 7,278 |
| | — |
| | 8,806 |
| | — |
| | 5,282 |
| | — |
| | | — |
| | |
| | |
| | |
| | |
| | |
| With an allowance recorded: | | — |
| | |
| | |
| | |
| | |
| | |
| Commercial: | | 1,624,000 |
| | 178,000 |
| | 721,000 |
| | — |
| | 721,000 |
| | — |
| Commercial and industrial | | 1,309 |
| | 111 |
| | 1,581 |
| | 226 |
| | 505 |
| | 181 |
| Agricultural land and production | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total commercial | | 1,309 |
| | 111 |
| | 1,581 |
| | 226 |
| | 505 |
| | 181 |
| Real estate: | | |
| | — |
| | | | — |
| | | | — |
| Owner occupied | | 997 |
| | 86 |
| | 633 |
| | — |
| | 1,193 |
| | — |
| Real estate construction and other land loans | | 4,295 |
| | 329 |
| | 6,490 |
| | 375 |
| | 6,544 |
| | 230 |
| Commercial real estate | | — |
| | 47 |
| | 145 |
| | — |
| | 849 |
| | — |
| Agricultural real estate | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Other real estate | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total real estate | | 5,292 |
| | 462 |
| | 7,268 |
| | 375 |
| | 8,586 |
| | 230 |
| Consumer: | | |
| | |
| | |
| | |
| | |
| | |
| Equity loans and lines of credit | | 489 |
| | — |
| | 600 |
| | — |
| | 1,640 |
| | — |
| Consumer and installment | | — |
| | — |
| | 37 |
| | — |
| | 101 |
| | — |
| Total consumer | | 489 |
| | — |
| | 637 |
| | — |
| | 1,741 |
| | — |
| Total with an allowance recorded | | 7,090 |
| | 573 |
| | 9,486 |
| | 601 |
| | 10,832 |
| | 411 |
| Total | | $ | 14,368 |
| | $ | 573 |
| | $ | 18,292 |
| | $ | 601 |
| | $ | 16,114 |
| | $ | 411 |
|
Foregone interest on nonaccrual loans totaled $661,000, $693,000, and $954,000 for the year ended ended December 31, 2013, 2012, and 2011, respectively.
Troubled Debt Restructurings:
As of December 31, 2013 and 2012, the Company has a recorded investment in troubled debt restructurings of $10,366,000 and $16,655,000, respectively. The Company has allocated $946,000 and $487,000 of specific reserves for those loans at December 31, 2013 and 2012, respectively. The Company has committed to lend zero as of December 31, 2013 to customers with outstanding loans that are classified as troubled debt restructurings. For the years ended December 31, 2013 and 2012 the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan or an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk. During the same periods, there were no troubled debt restructurings in which the amount of principal or accrued interest owed from the borrower were forgiven. The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2013 (in thousands): | | | | | | | | | | | | | | | | | | | | | Troubled Debt Restructurings: | | Number of Loans | | Pre-Modification Outstanding Recorded Investment (1) | | Principal Modification | | Post Modification Outstanding Recorded Investment (2) | | Outstanding Recorded Investment | Real Estate: | | | | | | | | | | | Real Estate - Commercial | | 1 |
| | $ | 620 |
| | $ | — |
| | $ | 620 |
| | $ | 344 |
|
| | (1) | Amounts represent the recorded investment in loans before recognizing effects of the TDR, if any. |
| | (2) | Balance outstanding after principal modification, if any borrower reduction to recorded investment. |
The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2012 (in thousands): | | | | | | | | | | | | | | | | | | | | | Troubled Debt Restructurings: | | Number of Loans | | Pre-Modification Outstanding Recorded Investment (1) | | Principal Modification | | Post Modification Outstanding Recorded Investment (2) | | Outstanding Recorded Investment | Real Estate: | | | | | | | | | | | Owner occupied | | 1 |
| | 425 |
| | — |
| | 425 |
| | 415 |
| Consumer | | | | | | | | | | | Equity loans and line of credit | | 1 |
| | 75 |
| | — |
| | 75 |
| | 72 |
| Total | | 2 |
| | $ | 500 |
| | $ | — |
| | $ | 500 |
| | $ | 487 |
|
| | (1) | Amounts represent the recorded investment in loans before recognizing effects of the TDR, if any. |
| | (2) | Balance outstanding after principal modification, if any borrower reduction to recorded investment. |
A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. There was no defaults on troubled debt restructurings within twelve months following the modification during the year ended ended December 31, 2013. There was one default on troubled debt restructurings within twelve months following the modification during the year ended December 31, 2012. The recorded investment in the one default was zero at December 31, 2012. |