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Allowance for Loan Losses
 12 Months Ended
Dec. 31, 2014
Allowance for Loan Losses  
Allowance for Loan Losses

Note 5: Allowance for Loan Losses

 

Changes in the allowance for loan losses by segment of loans based on method of impairment for the year ended December 31, 2014, were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses:

 

 

 

Real Estate

 

Real Estate

 

Real Estate

 

 

 

 

 

 

 

   

Commercial

   

Commercial 1

   

Construction

   

Residential

   

Consumer

   

Unallocated

   

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$
2,250 

 

$
16,763 

 

$
1,980 

 

$
2,837 

 

$
1,439 

 

$
2,012 

 

$
27,281 

Charge-offs

 

 
578 

 

 
1,972 

 

 
174 

 

 
3,393 

 

 
526 

 

 

 -

 

 
6,643 

Recoveries

 

 
58 

 

 
1,346 

 

 
633 

 

 
1,842 

 

 
420 

 

 

 -

 

 
4,299 

(Release) provision

 

 
(86)

 

 
(3,560)

 

 
(964)

 

 
695 

 

 
121 

 

 
494 

 

 
(3,300)

Ending balance

 

$
1,644 

 

$
12,577 

 

$
1,475 

 

$
1,981 

 

$
1,454 

 

$
2,506 

 

$
21,637 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: Individually evaluated for impairment

 

$

 -

 

$
21 

 

$
98 

 

$
159 

 

$

 -

 

$

-

 

$
278 

Ending balance: Collectively evaluated for impairment

 

$
1,644 

 

$
12,556 

 

$
1,377 

 

$
1,822 

 

$
1,454 

 

$
2,506 

 

$
21,359 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$
127,196 

 

$
600,629 

 

$
44,795 

 

$
370,191 

 

$
3,504 

 

$
13,017 

 

$
1,159,332 

Ending balance: Individually evaluated for impairment

 

$
1,500 

 

$
15,253 

 

$
2,352 

 

$
16,781 

 

$

-

 

$

-

 

$
35,886 

Ending balance: Collectively evaluated for impairment

 

$
125,696 

 

$
585,376 

 

$
42,443 

 

$
353,410 

 

$
3,504 

 

$
13,017 

 

$
1,123,446 

 

1 As of December 31, 2014, this segment consisted of performing loans that included a higher risk pool of loans rated as substandard that totaled $5.5 million.  The amount of general allocation that was estimated for that portion of these performing substandard rated loans was $1.1 million at December 31, 2014.  Also as of December 31, 2014, the Company’s loan portfolio included $13.0 million in loans secured by funds held by the Company as collateral.  The Company has consistently tracked these loans as not subject to the loan loss reserve methodology.

 

 

 

Changes in the allowance for loan losses by segment of loans based on method of impairment for the year ended December 31, 2013, were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses:

 

 

 

Real Estate

 

Real Estate

 

Real Estate

 

 

 

 

 

 

 

   

Commercial

   

Commercial 1

   

Construction

   

Residential

   

Consumer

   

Unallocated

   

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$
4,517 

 

$
20,100 

 

$
3,837 

 

$
4,535 

 

$
1,178 

 

$
4,430 

 

$
38,597 

Charge-offs

 

 
316 

 

 
2,985 

 

 
1,014 

 

 
6,293 

 

 
597 

 

 

 -

 

 
11,205 

Recoveries

 

 
119 

 

 
5,325 

 

 
1,266 

 

 
1,221 

 

 
508 

 

 

 -

 

 
8,439 

(Release) provision

 

 
(2,070)

 

 
(5,677)

 

 
(2,109)

 

 
3,374 

 

 
350 

 

 
(2,418)

 

 
(8,550)

Ending balance

 

$
2,250 

 

$
16,763 

 

$
1,980 

 

$
2,837 

 

$
1,439 

 

$
2,012 

 

$
27,281 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: Individually evaluated for impairment

 

$

 -

 

$
1,152 

 

$
355 

 

$
888 

 

$

-

 

$

-

 

$
2,395 

Ending balance: Collectively evaluated for impairment

 

$
2,250 

 

$
15,611 

 

$
1,625 

 

$
1,949 

 

$
1,439 

 

$
2,012 

 

$
24,886 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$
104,805 

 

$
560,233 

 

$
29,351 

 

$
390,201 

 

$
2,760 

 

$
13,906 

 

$
1,101,256 

Ending balance: Individually evaluated for impairment

 

$
27 

 

$
21,116 

 

$
4,746 

 

$
20,681 

 

$

-

 

$

-

 

$
46,570 

Ending balance: Collectively evaluated for impairment

 

$
104,778 

 

$
539,117 

 

$
24,605 

 

$
369,520 

 

$
2,760 

 

$
13,906 

 

$
1,054,686 

 

1 As of December 31, 2013, this segment consisted of performing loans that included a higher risk pool of loans rated as substandard that totaled $17.2 million.  The amount of general allocation that was estimated for that portion of these performing substandard rated loans was $2.1 million at December 31, 2013.

 

Changes in the allowance for loan losses by segment of loans based on method of impairment for the year ended December 31, 2012, were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses:

 

 

 

Real Estate

 

Real Estate

 

Real Estate

 

 

 

 

 

 

 

   

Commercial

   

Commercial 1

   

Construction

   

Residential

   

Consumer

   

Unallocated

   

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$
5,070 

 

$
30,770 

 

$
7,937 

 

$
6,335 

 

$
884 

 

$
1,001 

 

$
51,997 

Charge-offs

 

 
344 

 

 
13,508 

 

 
4,969 

 

 
8,406 

 

 
638 

 

 

 -

 

 
27,865 

Recoveries

 

 
115 

 

 
3,576 

 

 
3,420 

 

 
583 

 

 
487 

 

 

 -

 

 
8,181 

(Release) provision

 

 
(324)

 

 
(738)

 

 
(2,551)

 

 
6,023 

 

 
445 

 

 
3,429 

 

 
6,284 

Ending balance

 

$
4,517 

 

$
20,100 

 

$
3,837 

 

$
4,535 

 

$
1,178 

 

$
4,430 

 

$
38,597 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: Individually evaluated for impairment

 

$
458 

 

$
2,248 

 

$
1,113 

 

$
2,440 

 

$

 -

 

$

 -

 

$
6,259 

Ending balance: Collectively evaluated for impairment

 

$
4,059 

 

$
17,852 

 

$
2,724 

 

$
2,095 

 

$
1,178 

 

$
4,430 

 

$
32,338 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$
93,001 

 

$
579,687 

 

$
42,167 

 

$
414,543 

 

$
3,101 

 

$
17,551 

 

$
1,150,050 

Ending balance: Individually evaluated for impairment

 

$
762 

 

$
47,581 

 

$
11,579 

 

$
29,040 

 

$
23 

 

$

 -

 

$
88,985 

Ending balance: Collectively evaluated for impairment

 

$
92,239 

 

$
532,106 

 

$
30,588 

 

$
385,503 

 

$
3,078 

 

$
17,551 

 

$
1,061,065 

 

1  As of December 31, 2012, this segment consisted of performing loans that included a higher risk pool of loans rated as substandard that totaled $22.7 million.  The amount of general allocation that was estimated for that portion of these performing substandard rated loans was $1.8 million at December 31, 2012.

 

The Company’s allowance for loan loss is calculated in accordance with GAAP and relevant supervisory guidance.  All management estimates were made in light of observable trends within loan portfolio segments, market conditions and established credit review administration practices.