XML 50 R23.htm IDEA: XBRL DOCUMENT v2.4.1.9
Loans (Tables)
 3 Months Ended
Mar. 31, 2015
Receivables [Abstract]  
Loans
Loans are comprised of the following:
(in 000's)
March 31, 2015

 
December 31, 2014

Commercial and business loans
$
59,834

 
$
60,422

Government program loans
1,881

 
1,947

Total commercial and industrial
61,715

 
62,369

Real estate – mortgage:
 

 
 

Commercial real estate
158,426

 
154,672

Residential mortgages
77,067

 
59,095

Home Improvement and Home Equity loans
1,086

 
1,110

Total real estate mortgage
236,579

 
214,877

RE construction and development
147,292

 
137,158

Agricultural
34,747

 
31,713

Installment
11,912

 
11,802

Total Loans
$
492,245

 
$
457,919
Delinquent Loans
The Company monitors delinquency and potential problem loans on an ongoing basis through weekly reports to the Loan Committee and monthly reports to the Board of Directors. The following is a summary of delinquent loans at March 31, 2015 (in 000's):
March 31, 2015
Loans
30-60 Days Past Due
 
Loans
61-89 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
Commercial and Business Loans
$
—

 
$
—

 
$
962

 
$
962

 
$
58,872

 
$
59,834

 
$
—

Government Program Loans
—

 
—

 
—

 
—

 
1,881

 
1,881

 
—

Total Commercial and Industrial
—

 
—

 
962

 
962

 
60,753

 
61,715

 
—

Commercial Real Estate Loans
—

 
—

 
—

 
—

 
158,426

 
158,426

 
—

Residential Mortgages
—

 
87

 
—

 
87

 
76,980

 
77,067

 
—

Home Improvement and Home Equity Loans
70

 
—

 
58

 
128

 
958

 
1,086


16

Total Real Estate Mortgage
70

 
87

 
58

 
215

 
236,364

 
236,579

 
16

 
 
 
 
 
 
 
 
 
 
 
 
 
 
RE Construction and Development Loans
—

 
—

 
—

 
—

 
147,292

 
147,292

 
—

Agricultural Loans
123

 
—

 
—

 
123

 
34,624

 
34,747

 
—

Consumer Loans
805

 
—

 
—

 
805

 
10,814

 
11,619

 
—

Overdraft protection Lines
—

 
—

 
—

 
—

 
88

 
88

 
—

Overdrafts
—

 
—

 
—

 
—

 
205

 
205

 
—

Total Installment
805

 
—

 
—

 
805

 
11,107

 
11,912

 
—

Total Loans
$
998

 
$
87

 
$
1,020

 
$
2,105

 
$
490,140

 
$
492,245

 
$
16


The following is a summary of delinquent loans at December 31, 2014 (in 000's):
December 31, 2014
Loans
30-60 Days Past Due
 
Loans
61-89 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
Commercial and Business Loans
$
962

 
$
—

 
$
—

 
$
962

 
$
59,460

 
$
60,422

 
$
—

Government Program Loans
445

 
—

 
—

 
445

 
1,502

 
1,947

 
—

Total Commercial and Industrial
1,407

 
—

 
—

 
1,407

 
60,962

 
62,369

 
—

Commercial Real Estate Loans
463

 
—

 
—

 
463

 
154,209

 
154,672

 
—

Residential Mortgages
—

 
90

 
162

 
252

 
58,843

 
59,095

 
—

Home Improvement and Home Equity Loans
43

 
—

 
42

 
85

 
1,025

 
1,110

 
—

Total Real Estate Mortgage
506

 
90

 
204

 
800

 
214,077

 
214,877

 
—

RE Construction and Development Loans
—

 
—

 
—

 
—

 
137,158

 
137,158

 
—

Agricultural Loans
—

 
—

 
—

 
—

 
31,713

 
31,713

 
—

Consumer Loans
67

 
—

 
—

 
67

 
11,428

 
11,495

 
—

Overdraft protection Lines
—

 
—

 
—

 
—

 
92

 
92

 
—

Overdrafts
—

 
—

 
—

 
—

 
215

 
215

 
—

Total Installment
67

 
—

 
—

 
67

 
11,735

 
11,802

 
—

Total Loans
$
1,980

 
$
90

 
$
204

 
$
2,274

 
$
455,645

 
$
457,919

 
$
—
Nonaccrual Loan Balances
The following is a summary of nonaccrual loan balances at March 31, 2015 and December 31, 2014 (in 000's).
 
March 31, 2015
 
December 31, 2014
Commercial and Business Loans
$
962

 
$
12

Government Program Loans
388

 
421

Total Commercial and Industrial
1,350

 
433

 
 
 
 
Commercial Real Estate Loans
2,646

 
3,145

Residential Mortgages
1,178

 
1,174

Home Improvement and Home Equity Loans
42

 
42

Total Real Estate Mortgage
3,866

 
4,361

 
 
 
 
RE Construction and Development Loans
5,075

 
5,141

 Agricultural Loans
—

 
—

 
 
 
 
Consumer Loans
616

 
—

Overdraft protection Lines
—

 
—

Overdrafts
—

 
—

Total Installment
616

 
—

Total Loans
$
10,907

 
$
9,935
Impaired Loans
The following is a summary of impaired loans at, and for the three months ended March 31, 2015 (in 000's).
March 31, 2015
Unpaid
Contractual
Principal Balance
 
Recorded
Investment
With No Allowance (1)
 
Recorded
Investment
With Allowance (1)
 
Total
Recorded Investment
 
Related Allowance
 
Average
Recorded Investment
 
Interest Recognized
Commercial and Business Loans
$
1,875

 
$
696

 
$
1,182

 
$
1,878

 
$
1,024

 
$
1,439

 
$
15

Government Program Loans
388

 
388

 
—

 
388

 
—

 
404

 
8

Total Commercial and Industrial
2,263

 
1,084

 
1,182

 
2,266

 
1,024

 
1,843

 
23

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial Real Estate Loans
2,646

 
1,322

 
1,324

 
2,646

 
455

 
2,895

 
48

Residential Mortgages
4,369

 
1,732

 
2,836

 
4,568

 
175

 
4,448

 
53

Home Improvement and Home Equity Loans
42

 
42

 
—

 
42

 
—

 
42

 
—

Total Real Estate Mortgage
7,057

 
3,096

 
4,160

 
7,256

 
630

 
7,385

 
101

 
 
 
 
 
 
 
 
 
 
 
 
 
 
RE Construction and Development Loans
6,283

 
5,554

 
733

 
6,287

 
40

 
6,329

 
100

Agricultural Loans
28

 
29

 
—

 
29

 
—

 
30

 
2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer Loans
694

 
82

 
1,232

 
1,314

 
503

 
1,314

 
21

Overdraft protection Lines
—

 
—

 
—

 
—

 
—

 
—

 
—

Overdrafts
—

 
—

 
—

 
—

 
—

 
—

 
—

Total Installment
694

 
82

 
1,232

 
1,314

 
503

 
1,314

 
21

Total Impaired Loans
$
16,325

 
$
9,845

 
$
7,307

 
$
17,152

 
$
2,197

 
$
16,901

 
$
247


(1) The recorded investment in loans includes accrued interest receivable of $827,000.


The following is a summary of impaired loans at, and for the year ended, December 31, 2014 (in 000's).

December 31, 2014
Unpaid
Contractual
Principal Balance
 
Recorded
Investment
With No Allowance (1)
 
Recorded
Investment
With Allowance (1)
 
Total
Recorded Investment
 
Related Allowance
 
Average
Recorded Investment
 
Interest Recognized
Commercial and Business Loans
$
996

 
$
770

 
$
230

 
$
1,000

 
$
64

 
$
847

 
$
76

Government Program Loans
421

 
421

 
—

 
421

 
—

 
250

 
28

Total Commercial and Industrial
1,417

 
1,191

 
230

 
1,421

 
64

 
1,097

 
104

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial Real Estate Loans
3,145

 
1,794

 
1,351

 
3,145

 
478

 
5,765

 
244

Residential Mortgages
4,315

 
1,474

 
2,852

 
4,326

 
170

 
4,564

 
188

Home Improvement and Home Equity Loans
42

 
42

 
—

 
42

 
—

 
11

 
3

Total Real Estate Mortgage
7,502

 
3,310

 
4,203

 
7,513

 
648

 
10,340

 
435

 
 
 
 
 
 
 
 
 
 
 
 
 
 
RE Construction and Development Loans
6,367

 
6,371

 
—

 
6,371

 
—

 
3,362

 
209

Agricultural Loans
32

 
32

 
—

 
32

 
—

 
37

 
9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer Loans
695

 
655

 
45

 
700

 
3

 
209

 
37

Overdraft protection Lines
—

 
—

 
—

 
—

 
—

 
—

 
—

Overdrafts
—

 
—

 
—

 
—

 
—

 
—

 
—

Total Installment
695

 
655

 
45

 
700

 
3

 
209

 
37

Total Impaired Loans
$
16,013

 
$
11,559

 
$
4,478

 
$
16,037

 
$
715

 
$
15,045

 
$
794



(1) The recorded investment in loans includes accrued interest receivable of $24,000.

Troubled Debt Restructuring Activity
The following tables illustrates TDR activity for the periods indicated:
 
Three Months Ended March 31, 2015
($ in 000's)
Number of
Contracts
 
Pre-
Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
 
Number of Contracts in Default
 
Recorded Investment on Defaulted TDRs
Troubled Debt Restructurings
 
 
 
 
 
 
 
 
 
Commercial and Business Loans
1

 
$
258

 
$
256

 
—

 
$
—

Government Program Loans
—

 
—

 
—

 
—

 
—

Commercial Real Estate Term Loans
—

 
—

 
—

 
—

 
—

Single Family Residential Loans
—

 
—

 
—

 
—

 
—

Home Improvement and Home Equity Loans
—

 
—

 
—

 
—

 
—

RE Construction and Development Loans
—

 
—

 
—

 
—

 
—

Agricultural Loans
—

 
—

 
—

 
—

 
—

Consumer Loans
—

 
—

 
—

 
—

 
—

Overdraft protection Lines
—

 
—

 
—

 
—

 
—

Total Loans
1

 
$
258

 
$
256

 
—

 
$
—

 
Three Months Ended  
 March 31, 2014
($ in 000's)
Number of
Contracts
 
Pre-
Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
 
Number of Contracts in Default
 
Recorded Investment on Defaulted TDRs
Troubled Debt Restructurings
 
 
 
 
 
 
 
 
 
Commercial and Business Loans
—

 
$
—

 
$
—

 
—

 
$
—

Government Program Loans
—

 
—

 
—

 
—

 
—

Commercial Real Estate Term Loans
—

 
—

 
—

 
—

 
—

Single Family Residential Loans
—

 
—

 
—

 
2

 
217

Home Improvement and Home Equity Loans
—

 
—

 
—

 
—

 
—

RE Construction and Development Loans
—

 
—

 
—

 
2

 
394

Agricultural Loans
—

 
—

 
—

 
—

 
—

Consumer Loans
—

 
—

 
—

 
—

 
—

Overdraft protection Lines
—

 
—

 
—

 
—

 
—

Total Loans
—

 
$
—

 
$
—

 
$
—

 
$
611
TDR Activity by Loan Category
The following tables summarize TDR activity by loan category for the three months ended March 31, 2015 and March 31, 2014 (in 000's).
Year Ended March 31, 2015
Commercial and Industrial
 
Commercial Real Estate
 
Residential Mortgages
 
Home Equity
 
RE Construction Development
 
Agricultural
 
Installment
& Other
 
Total
Beginning balance
$
1,306

 
$
2,713

 
$
4,225

 
$
—

 
$
6,029

 
$
32

 
$
695

 
$
15,000

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Defaults
(962
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(962
)
Additions
—

 
—

 
256

 
—

 
—

 
—

 
—

 
256

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal reductions
859

 
(67
)
 
(199
)
 
—

 
(79
)
 
(4
)
 
(1
)
 
509

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
$
1,203

 
$
2,646

 
$
4,282

 
$
—

 
$
5,950

 
$
28

 
$
694

 
$
14,803

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan loss
$
1,024

 
$
455

 
$
175

 
$
—

 
$
40

 
$
—

 
$
503

 
$
2,197



Year Ended March 31, 2014
Commercial and Industrial
 
Commercial Real Estate
 
Residential Mortgages
 
Home Equity
 
RE Construction Development
 
Agricultural
 
Installment
& Other
 
Total
Beginning balance
$
675

 
$
1,468

 
$
5,273

 
$
—

 
$
1,551

 
$
44

 
$
48

 
$
9,059

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Defaults
—

 
—

 
(217
)
 
—

 
(394
)
 
—

 
—

 
(611
)
Additions
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal reductions
(15
)
 
(23
)
 
(243
)
 
—

 
(272
)
 
(3
)
 
(1
)
 
(557
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
$
660

 
$
1,445

 
$
4,813

 
$
—

 
$
885

 
$
41

 
$
47

 
$
7,891

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan loss
$
48

 
$
432

 
$
217

 
$
—

 
$
—

 
$
—

 
$
—

 
$
697
Credit Risk Rating for Commercial, Construction and Non-Consumer Related Loans
The following tables summarize the credit risk ratings for commercial, construction, and other non-consumer related loans for March 31, 2015 and December 31, 2014:
 
Commercial and Industrial
 
Commercial RE
 
RE Construction and Development
 
Agricultural
 
Total
March 31, 2015
 
 
 
 
(in 000's)
 
 
 
 
Grades 1 and 2
$
400

 
$
—

 
$
—

 
$
—

 
$
400

Grade 3
4,011

 
4,783

 
—

 
—

 
8,794

Grades 4 and 5 – pass
55,242

 
149,491

 
125,759

 
34,634

 
365,126

Grade 6 – special mention
—

 
—

 
—

 
113

 
113

Grade 7 – substandard
2,062

 
4,152

 
21,533

 
—

 
27,747

Grade 8 – doubtful
—

 
—

 
—

 
—

 
—

Total
$
61,715

 
$
158,426

 
$
147,292

 
$
34,747

 
$
402,180

 
Commercial and Industrial
 
Commercial RE
 
RE Construction and Development
 
Agricultural
 
Total
December 31, 2014
 
 
 
 
(in 000's)
 
 
 
 
Grades 1 and 2
$
591

 
$
—

 
$
—

 
$
—

 
$
591

Grade 3
2,012

 
4,808

 
775

 
—

 
7,595

Grades 4 and 5 – pass
58,179

 
144,230

 
114,766

 
31,600

 
348,775

Grade 6 – special mention
342

 
1,095

 
—

 
113

 
1,550

Grade 7 – substandard
1,245

 
4,539

 
21,617

 
—

 
27,401

Grade 8 – doubtful
—

 
—

 
—

 
—

 
—

Total
$
62,369

 
$
154,672

 
$
137,158

 
$
31,713

 
$
385,912
Credit Risk Ratings for Consumer Related Loans and Other Homogenous Loans
The following tables summarize the credit risk ratings for consumer related loans and other homogeneous loans for March 31, 2015 and December 31, 2014:
 
March 31, 2015
 
December 31, 2014
 
Residential Mortgages
 
Home
Improvement and Home Equity
 
Installment
 
Total
 
Residential Mortgages
 
Home
Improvement and Home Equity
 
Installment
 
Total
(in 000's)
 
 
 
 
 
 
 
Not graded
$
55,166

 
$
1,014

 
$
9,725

 
$
65,905

 
$
38,207

 
$
1,038

 
$
10,287

 
$
49,532

Pass
18,652

 
30

 
922

 
19,604

 
17,887

 
30

 
865

 
18,782

Special Mention
215

 
—

 
—

 
215

 
216

 
—

 
—

 
216

Substandard
3,034

 
42

 
1,265

 
4,341

 
2,785

 
42

 
650

 
3,477

Total
$
77,067

 
$
1,086

 
$
11,912

 
$
90,065

 
$
59,095

 
$
1,110

 
$
11,802

 
$
72,007
Allowance for Credit Loses by Loan Category
The following summarizes the activity in the allowance for credit losses by loan category for the three months ended March 31, 2015 and 2014 (in 000's).
Three Months Ended
Commercial and Industrial
 
Real Estate Mortgage
 
RE Construction Development
 
 Agricultural
 
Installment & Other
 
Commercial Lease Financing
 
 Unallocated
 
Total
March 31, 2015
 
 
 
 
 
 
 
Beginning balance
$
1,219

 
$
1,653

 
$
6,278

 
$
481

 
$
293

 
$
—

 
$
847

 
$
10,771

Provision for credit losses
834

 
84

 
(99
)
 
12

 
466

 
—

 
(838
)
 
459

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Charge-offs
(215
)
 
—

 
—

 
—

 
—

 
—

 
(3
)
 
(218
)
Recoveries
237

 
7

 
30

 
—

 
2

 
—

 
2

 
278

Net recoveries
22

 
7

 
30

 
—

 
2

 
—

 
(1
)
 
60

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
$
2,075

 
$
1,744

 
$
6,209

 
$
493

 
$
761

 
$
—

 
$
8

 
$
11,290

Period-end amount allocated to:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Loans individually evaluated for impairment
1,024

 
630

 
40

 
—

 
503

 
—

 
—

 
2,197

Loans collectively evaluated for impairment
1,051

 
1,114

 
6,169

 
493

 
258

 
—

 
8

 
9,093

Ending balance
$
2,075

 
$
1,744

 
$
6,209

 
$
493

 
$
761

 
$
—

 
$
8

 
$
11,290


Three Months Ended
Commercial and Industrial
 
Real Estate Mortgage
 
RE Construction Development
 
 Agricultural
 
Installment & Other
 
Commercial Lease Financing
 
 Unallocated
 
Total
March 31, 2014
 
 
 
 
 
 
 
Beginning balance
$
2,340

 
$
1,862

 
$
5,533

 
$
583

 
$
275

 
$
—

 
$
395

 
$
10,988

Recovery of provision for credit losses
(825
)
 
(150
)
 
1,080

 
(174
)
 
18

 
(46
)
 
50

 
(47
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Charge-offs
(3
)
 
(74
)
 
(60
)
 
—

 
(5
)
 
—

 
—

 
(142
)
Recoveries
116

 
6

 
92

 
3

 
22

 
46

 
—

 
285

Net charge-offs
113

 
(68
)
 
32

 
3

 
17

 
46

 
—

 
143

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
$
1,628

 
$
1,644

 
$
6,645

 
$
412

 
$
310

 
$
0

 
$
445

 
$
11,084

Period-end amount allocated to:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Loans individually evaluated for impairment
48

 
649

 
—

 
—

 
—

 
—

 
—

 
697

Loans collectively evaluated for impairment
1,580

 
995

 
6,645

 
412

 
310

 
0

 
445

 
10,387

Ending balance
$
1,628

 
$
1,644

 
$
6,645

 
$
412

 
$
310

 
$
0

 
$
445

 
$
11,084
Summarized Loan Balances
The following summarizes information with respect to the loan balances at March 31, 2015 and 2014.
 
March 31, 2015
 
March 31, 2014
 
Loans
Individually
Evaluated for Impairment
 
Loans
Collectively
Evaluated for Impairment
 
Total Loans
 
Loans
Individually
Evaluated for Impairment
 
Loans
Collectively
Evaluated for Impairment
 
Total Loans
(in 000's)
 
 
 
 
 
Commercial and Business Loans
$
1,878

 
$
57,956

 
$
59,834

 
$
806

 
$
63,090

 
$
63,896

Government Program Loans
388

 
1,493

 
1,881

 
—

 
1,896

 
1,896

Total Commercial and Industrial
2,266

 
59,449

 
61,715

 
806

 
64,986

 
65,792

 
 
 
 
 
 
 
 
 
 
 
 
Commercial Real Estate Loans
2,646

 
155,780

 
158,426

 
8,558

 
151,606

 
160,164

Residential Mortgage Loans
4,568

 
72,499

 
77,067

 
4,926

 
44,241

 
49,167

Home Improvement and Home Equity Loans
42

 
1,044

 
1,086

 
—

 
1,336

 
1,336

Total Real Estate Mortgage
7,256

 
229,323

 
236,579

 
13,484

 
197,183

 
210,667

 
 
 
 
 
 
 
 
 
 
 
 
RE Construction and Development Loans
6,287

 
141,005

 
147,292

 
890

 
101,077

 
101,967

 
 
 
 
 
 
 
 
 
 
 
 
Agricultural Loans
29

 
34,718

 
34,747

 
42

 
24,295

 
24,337

 
 
 
 
 
 
 
 
 
 
 
 
Installment Loans
1,314

 
10,598

 
11,912

 
47

 
9,135

 
9,182

 
 
 
 
 
 
 
 
 
 
 
 
Total Loans
$
17,152

 
$
475,093

 
$
492,245

 
$
15,269

 
$
396,676

 
$
411,945