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LOANS (Tables)
 6 Months Ended
Jun. 30, 2017
Receivables [Abstract]  
Portfolio of Loans Outstanding
The portfolio of loans outstanding consists of the following:

 
June 30, 2017
 
December 31, 2016
 
Amount
 
Percentage
of Total
Loans
 
Amount
 
Percentage
of Total
Loans
 
(amounts in thousands)
Commercial and Industrial
$
27,097

 
2.9
%
 
$
26,774

 
3.1
%
Real Estate Construction:
 

 
 

 
 

 
 

Residential
18,862

 
2.0

 
8,825

 
1.0

Commercial
59,113

 
6.4

 
58,469

 
6.9

Real Estate Mortgage:
 

 
 

 
 

 
 

Commercial – Owner Occupied
122,054

 
13.2

 
123,898

 
14.5

Commercial – Non-owner Occupied
283,396

 
30.5

 
268,123

 
31.5

Residential – 1 to 4 Family
350,445

 
37.7

 
309,340

 
36.3

Residential – Multifamily
51,461

 
5.6

 
39,804

 
4.7

Consumer
16,162

 
1.7

 
16,720

 
2.0

Total Loans
$
928,590

 
100.0
%
 
$
851,953

 
100.0
%
Age Analysis of Past Due Loans by Class
An age analysis of past due loans by class at June 30, 2017 and December 31, 2016 follows:

June 30, 2017
30-59
Days Past
Due
 
60-89
Days Past
Due
 
Greater
than 90
Days and
Not
Accruing
 
Total Past
Due
 
Current
 
Total
Loans
 
(amounts in thousands)
Commercial and Industrial
$
—

 
$
—

 
$
19

 
$
19

 
$
27,078

 
$
27,097

Real Estate Construction:
 

 
 

 
 

 
 

 
 

 
 

Residential
—

 
—

 
—

 
—

 
18,862

 
18,862

Commercial
—

 
—

 
2,515

 
2,515

 
56,598

 
59,113

Real Estate Mortgage:
 

 
 

 
 

 
 

 
 

 
 

Commercial – Owner Occupied
—

 
2,749

 
159

 
2,908

 
119,146

 
122,054

Commercial – Non-owner Occupied
—

 
—

 
2,488

 
2,488

 
280,908

 
283,396

Residential – 1 to 4 Family
356

 
337

 
3,178

 
3,871

 
346,574

 
350,445

Residential – Multifamily
—

 
—

 
50

 
50

 
51,411

 
51,461

Consumer
—

 
—

 
90

 
90

 
16,072

 
16,162

Total Loans
$
356

 
$
3,086

 
$
8,499

 
$
11,941

 
$
916,649

 
$
928,590


December 31, 2016
30-59
Days Past
Due
 
60-89
Days Past
Due
 
Greater
than 90
Days and
Not
Accruing
 
Total Past
Due
 
Current
 
Total
Loans
 
(amounts in thousands)
Commercial and Industrial
$
—

 
$
—

 
$
159

 
$
159

 
$
26,615

 
$
26,774

Real Estate Construction:
 

 
 

 
 

 
 

 
 

 
 

Residential
—

 
—

 
—

 
—

 
8,825

 
8,825

Commercial
—

 
—

 
3,241

 
3,241

 
55,228

 
58,469

Real Estate Mortgage:
 

 
 

 
 

 
 

 
 

 
 

Commercial – Owner Occupied
—

 
165

 
430

 
595

 
123,303

 
123,898

Commercial – Non-owner Occupied
—

 
—

 
3,958

 
3,958

 
264,165

 
268,123

Residential – 1 to 4 Family
715

 
361

 
3,095

 
4,171

 
305,169

 
309,340

Residential – Multifamily
—

 
—

 
308

 
308

 
39,496

 
39,804

Consumer
31

 
42

 
107

 
180

 
16,540

 
16,720

Total Loans
$
746

 
$
568

 
$
11,298

 
$
12,612

 
$
839,341

 
$
851,953
Impaired Loans
Impaired loans at June 30, 2017 and December 31, 2016 are set forth in the following tables:

June 30, 2017
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
(amounts in thousands)
With no related allowance recorded:
 
 
 
 
 
Commercial and Industrial
$
19

 
$
22

 
$
—

Real Estate Construction:
 

 
 

 
 

Residential
—

 
—

 
—

Commercial
435

 
435

 
—

Real Estate Mortgage:
 

 
 

 
 

Commercial – Owner Occupied
159

 
159

 
—

Commercial – Non-owner Occupied
2,560

 
2,805

 
—

Residential – 1 to 4 Family
2,542

 
2,598

 
—

Residential – Multifamily
—

 
—

 
—

Consumer
90

 
90

 
—

 
5,805

 
6,109

 
—

With an allowance recorded:
 

 
 

 
 

Commercial and Industrial
—

 
—

 
—

Real Estate Construction:
 

 
 

 
 

Residential
—

 
—

 
—

Commercial
6,747

 
10,647

 
810

Real Estate Mortgage:
 

 
 

 
 

Commercial – Owner Occupied
3,812

 
3,841

 
57

Commercial – Non-owner Occupied
14,720

 
16,315

 
906

Residential – 1 to 4 Family
1,582

 
1,582

 
212

Residential – Multifamily
50

 
95

 
50

Consumer
—

 
—

 
—

 
26,911

 
32,480

 
2,035

Total:
 

 
 

 
 

Commercial and Industrial
19

 
22

 
—

Real Estate Construction:
 

 
 

 
 

Residential
—

 
—

 
—

Commercial
7,182

 
11,082

 
810

Real Estate Mortgage:
 

 
 

 
 

Commercial – Owner Occupied
3,971

 
4,000

 
57

Commercial – Non-owner Occupied
17,280

 
19,120

 
906

Residential – 1 to 4 Family
4,124

 
4,180

 
212

Residential – Multifamily
50

 
95

 
50

Consumer
90

 
90

 
—

 
$
32,716

 
$
38,589

 
$
2,035


December 31, 2016
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
(amounts in thousands)
With no related allowance recorded:
 
 
 
 
 
Commercial and Industrial
$
21

 
$
23

 
$
—

Real Estate Construction:
 

 
 

 
 

Residential
—

 
—

 
—

Commercial
1,161

 
1,161

 
—

Real Estate Mortgage:
 

 
 

 
 

Commercial – Owner Occupied
—

 
—

 
—

Commercial – Non-owner Occupied
3,494

 
3,739

 
—

Residential – 1 to 4 Family
2,384

 
2,434

 
—

Residential – Multifamily
308

 
354

 
—

Consumer
107

 
107

 
—

 
7,475

 
7,818

 
—

With an allowance recorded:
 

 
 

 
 

Commercial and Industrial
138

 
1,392

 
138

Real Estate Construction:
 

 
 

 
 

Residential
—

 
—

 
—

Commercial
7,225

 
11,125

 
155

Real Estate Mortgage:
 

 
 

 
 

Commercial – Owner Occupied
4,380

 
4,409

 
498

Commercial – Non-owner Occupied
15,506

 
17,100

 
226

Residential – 1 to 4 Family
1,681

 
1,697

 
234

Residential – Multifamily
—

 
—

 
—

Consumer
—

 
—

 
—

 
28,930

 
35,723

 
1,251

Total:
 

 
 

 
 

Commercial and Industrial
159

 
1,415

 
138

Real Estate Construction:
 

 
 

 
 

Residential
—

 
—

 
—

Commercial
8,386

 
12,286

 
155

Real Estate Mortgage:
 

 
 

 
 

Commercial – Owner Occupied
4,380

 
4,409

 
498

Commercial – Non-owner Occupied
19,000

 
20,839

 
226

Residential – 1 to 4 Family
4,065

 
4,131

 
234

Residential – Multifamily
308

 
354

 
—

Consumer
107

 
107

 
—

 
$
36,405

 
$
43,541

 
$
1,251


The following table presents by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2017 and 2016:

  
Three Months Ended June 30,
 
2017
 
2016
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
(amounts in thousands)
Commercial and Industrial
$
23

 
$
—

 
$
1,691

 
$
—

Real Estate Construction:
 

 
 

 
 

 
 

Residential
—

 
—

 
—

 
—

Commercial
9,158

 
51

 
13,302

 
59

Real Estate Mortgage:
 

 
 

 
 

 
 

Commercial – Owner Occupied
4,024

 
40

 
5,152

 
44

Commercial – Non-owner Occupied
18,483

 
155

 
21,078

 
191

Residential – 1 to 4 Family
4,179

 
22

 
3,645

 
32

Residential – Multifamily
180

 
—

 
354

 
4

Consumer
90

 
1

 
31

 
—

Total
$
36,137

 
$
269

 
$
45,253

 
$
330



  
Six Months Ended June 30,
 
2017
 
2016
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
(amounts in thousands)
Commercial and Industrial
$
23

 
$
1

 
$
1,740

 
$
—

Real Estate Construction:
 
 
 
 
 
 
 
Residential
—

 
—

 
—

 
—

Commercial
8,535

 
102

 
13,328

 
118

Real Estate Mortgage:
 
 
 
 
 
 
 
Commercial – Owner Occupied
4,054

 
97

 
6,036

 
89

Commercial – Non-owner Occupied
18,248

 
328

 
21,140

 
373

Residential – 1 to 4 Family
4,185

 
42

 
3,688

 
65

Residential – Multifamily
223

 
—

 
355

 
8

Consumer
90

 
2

 
31

 
1

Total
$
35,358

 
$
572

 
$
46,318

 
$
654
Analysis of Credit Risk Profile by Internally Assigned Grades
An analysis of the credit risk profile by internally assigned grades as of June 30, 2017 and December 31, 2016 is as follows:

At June 30, 2017
Pass
 
OAEM
 
Substandard
 
Doubtful
 
Total
 
(amounts in thousands)
Commercial and Industrial
$
26,988

 
$
109

 
$
—

 
$
—

 
$
27,097

Real Estate Construction:
 

 
 

 
 

 
 

 
 

Residential
18,862

 
—

 
—

 
—

 
18,862

Commercial
42,697

 
6,955

 
9,461

 
—

 
59,113

Real Estate Mortgage:
 

 
 

 
 

 
 

 
 

Commercial – Owner Occupied
119,141

 
2,754

 
159

 
—

 
122,054

Commercial – Non-owner Occupied
278,017

 
—

 
5,379

 
—

 
283,396

Residential – 1 to 4 Family
345,446

 
1,674

 
3,325

 
—

 
350,445

Residential – Multifamily
51,411

 
—

 
50

 
—

 
51,461

Consumer
16,072

 
—

 
90

 
—

 
16,162

Total
$
898,634

 
$
11,492

 
$
18,464

 
$
—

 
$
928,590

 
At December 31, 2016
Pass
 
OAEM
 
Substandard
 
Doubtful
 
Total
 
(amounts in thousands)
Commercial and Industrial
$
26,515

 
$
121

 
$
138

 
$
—

 
$
26,774

Real Estate Construction:
 

 
 

 
 

 
 

 
 

Residential
8,825

 
—

 
—

 
—

 
8,825

Commercial
35,656

 
12,516

 
10,297

 
—

 
58,469

Real Estate Mortgage:
 

 
 

 
 

 
 

 
 

Commercial – Owner Occupied
120,166

 
3,302

 
430

 
—

 
123,898

Commercial – Non-owner Occupied
261,181

 
79

 
6,863

 
—

 
268,123

Residential – 1 to 4 Family
304,042

 
1,536

 
3,762

 
—

 
309,340

Residential – Multifamily
39,496

 
—

 
308

 
—

 
39,804

Consumer
16,612

 
—

 
108

 
—

 
16,720

Total
$
812,493

 
$
17,554

 
$
21,906

 
$
—

 
$
851,953