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Loans
 12 Months Ended
Dec. 31, 2011
Loans  
Loans

Note 4: Loans

 

Major classifications of loans at December 31 were as follows:

 

 

 

2011

 

2010

 

Commercial

 

$

98,099

 

$

149,552

 

Real estate - commercial

 

704,492

 

821,101

 

Real estate - construction

 

71,436

 

129,601

 

Real estate - residential

 

477,200

 

557,635

 

Consumer

 

3,789

 

4,949

 

Overdraft

 

457

 

739

 

Lease financing receivables

 

2,087

 

2,774

 

Other

 

11,498

 

24,487

 

 

 

$

1,369,058

 

$

1,690,838

 

Net deferred loan fees and costs

 

(73

)

(709

)

 

 

$

1,368,985

 

$

1,690,129

 

 

It is the policy of the Company to review each prospective credit in order to determine an adequate level of security or collateral was obtained prior to making a loan.  The type of collateral, when required, will vary from liquid assets to real estate.  The Company’s access to collateral, in the event of borrower default, is assured through adherence to state lending laws, the Company’s lending standards and credit monitoring procedures.  The Bank generally makes loans within its market area.  There are no significant concentrations of loans where the customers’ ability to honor loan terms is dependent upon a single economic sector, although the real estate related categories listed above represent 91.5% and 89.2% of the portfolio at December 31, 2011, and December 31, 2010, respectively.  In spite of this increase, the Company remains committed to overseeing and managing its loan portfolio to reduce its real estate credit concentrations in accordance with the requirements of the Consent Order with the Bank and the OCC.  Consistent with that commitment, management has updated its asset diversification plan and policy and anticipates that the percentage of real estate lending to the overall portfolio will decrease in the future as a result of that process.  Regulatory and Capital matters including the Consent Order are discussed in more detail in Note 19 of the consolidated financial statements included in this report.

 

Aged analysis of past due loans by class of loans as of December 31, 2011 and December 31, 2010 were as follows:

 

December 31, 2011

 

30-59 Days
Past Due

 

60-89 Days
Past Due

 

90 Days or
Greater Past
Due

 

Total Past
Due

 

Current

 

Nonaccrual

 

Total
Financing
Receivables

 

Recorded
Investment
90 days or
Greater Past
Due and
Accruing

 

Commercial

 

$

161

 

$

20

 

$

—

 

$

181

 

$

98,840

 

$

1,165

 

$

100,186

 

$

—

 

Real estate - commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied general purpose

 

912

 

—

 

—

 

912

 

137,250

 

12,744

 

150,906

 

—

 

Owner occupied special purpose

 

—

 

39

 

—

 

39

 

172,624

 

16,564

 

189,227

 

—

 

Non-owner occupied general purpose

 

471

 

—

 

318

 

789

 

147,099

 

12,893

 

160,781

 

318

 

Non-owner occupied special purpose

 

—

 

—

 

—

 

—

 

107,425

 

1,814

 

109,239

 

—

 

Retail properties

 

—

 

—

 

—

 

—

 

42,535

 

15,897

 

58,432

 

—

 

Farm

 

197

 

—

 

—

 

197

 

34,136

 

1,574

 

35,907

 

—

 

Real estate - construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

—

 

Homebuilder

 

—

 

—

 

—

 

—

 

8,725

 

10,193

 

18,918

 

—

 

Land

 

—

 

—

 

—

 

—

 

7,976

 

2,025

 

10,001

 

—

 

Commercial speculative

 

—

 

669

 

—

 

669

 

5,154

 

14,217

 

20,040

 

—

 

All other

 

—

 

74

 

—

 

74

 

17,714

 

4,689

 

22,477

 

—

 

Real estate - residential

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

—

 

Investor

 

338

 

3,562

 

—

 

3,900

 

162,101

 

15,111

 

181,112

 

—

 

Owner occupied

 

3,414

 

573

 

—

 

3,987

 

119,266

 

15,059

 

138,312

 

—

 

Revolving and junior liens

 

1,525

 

166

 

—

 

1,691

 

153,244

 

2,841

 

157,776

 

—

 

Consumer

 

8

 

—

 

—

 

8

 

3,781

 

—

 

3,789

 

—

 

All other

 

—

 

—

 

—

 

—

 

11,882

 

—

 

11,882

 

—

 

 

 

$

7,026

 

$

5,103

 

$

318

 

$

12,447

 

$

1,229,752

 

$

126,786

 

$

1,368,985

 

$

318

 

 

December 31, 2010

 

30-59 Days
Past Due

 

60-89 Days
Past Due

 

90 Days or
Greater Past
Due

 

Total Past
Due

 

Current

 

Nonaccrual

 

Total
Financing
Receivables

 

Recorded
Investment
90 days or
Greater Past
Due and
Accruing

 

Commercial

 

$

375

 

$

391

 

$

216

 

$

982

 

$

147,676

 

$

3,668

 

$

152,326

 

$

216

 

Real estate - commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied general purpose

 

1,156

 

2

 

—

 

1,158

 

158,189

 

18,610

 

177,957

 

—

 

Owner occupied special purpose

 

897

 

—

 

328

 

1,225

 

181,845

 

25,987

 

209,057

 

328

 

Non-owner occupied general purpose

 

884

 

499

 

—

 

1,383

 

148,406

 

25,623

 

175,412

 

—

 

Non-owner occupied special purpose

 

—

 

—

 

—

 

—

 

104,791

 

11,612

 

116,403

 

—

 

Retail properties

 

—

 

—

 

—

 

—

 

74,564

 

24,374

 

98,938

 

—

 

Farm

 

148

 

999

 

—

 

1,147

 

41,446

 

741

 

43,334

 

—

 

Real estate - construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Homebuilder

 

217

 

—

 

—

 

217

 

14,676

 

22,001

 

36,894

 

—

 

Land

 

—

 

586

 

—

 

586

 

12,324

 

20,617

 

33,527

 

—

 

Commercial speculative

 

—

 

—

 

—

 

—

 

21,603

 

14,881

 

36,484

 

—

 

All other

 

65

 

73

 

—

 

138

 

16,545

 

6,013

 

22,696

 

—

 

Real estate - residential

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investor

 

2,221

 

—

 

469

 

2,690

 

200,011

 

21,223

 

223,924

 

469

 

Owner occupied

 

4,450

 

656

 

—

 

5,106

 

139,457

 

15,309

 

159,872

 

—

 

Revolving and junior liens

 

284

 

6

 

—

 

290

 

171,990

 

1,559

 

173,839

 

—

 

Consumer

 

9

 

2

 

—

 

11

 

4,931

 

7

 

4,949

 

—

 

All other

 

—

 

—

 

—

 

—

 

24,517

 

—

 

24,517

 

—

 

 

 

$

10,706

 

$

3,214

 

$

1,013

 

$

14,933

 

$

1,462,971

 

$

212,225

 

$

1,690,129

 

$

1,013

 

 

Nonaccrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans.

 

Additional details and discussion related to past due, nonaccrual and restructured loans is found in the “Provision for Loan Losses” section of the “Management Discussion and Analysis” section of this report.  The Bank had no commitments to any borrower whose loans were classified as impaired at December 31, 2011

 

Credit Quality Indicators:

 

The Company categorizes loans into Credit risk categories based on current financial information, overall debt service coverage, comparison against industry averages, historical payment experience, and current economic trends.  Each loan and loan relationship is examined.  This analysis includes loans with outstanding loans or commitments greater than $50,000 and excludes homogeneous loans such as home equity line of credit and residential mortgages.  Loans with a classified risk rating are reviewed quarterly regardless of size or loan type.  The Company uses the following definitions for classified risk ratings:

 

Special Mention.  Loans classified as special mention have a potential weakness that deserves management’s close attention.  If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan at some future date.

 

Substandard.  Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any.  Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

 

Doubtful.  Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

 

Credits that are not covered by the definitions above are pass credits, which are not considered to be adversely rated.  Loans listed as not rated have outstanding loans or commitments less than $50,000 or are included in groups of homogeneous loans.

 

Credit Quality Indicators by class of loans as of December 31, 2011 and December 31, 2010 were as follows:

 

December 31, 2011

 

Pass

 

Special
Mention

 

Substandard (1)

 

Doubtful

 

Total

 

Commercial

 

$

94,456

 

$

3,350

 

$

2,380

 

$

—

 

$

100,186

 

Real estate - commercial

 

 

 

 

 

 

 

 

 

 

 

Owner occupied general purpose

 

115,175

 

11,695

 

24,036

 

—

 

150,906

 

Owner occupied special purpose

 

154,650

 

5,254

 

29,323

 

—

 

189,227

 

Non-owner occupied general purpose

 

102,178

 

19,292

 

39,311

 

—

 

160,781

 

Non-owner occupied special purpose

 

85,931

 

6,017

 

17,291

 

—

 

109,239

 

Retail properties

 

26,391

 

11,660

 

20,381

 

—

 

58,432

 

Farm

 

26,629

 

5,605

 

3,673

 

—

 

35,907

 

Real estate - construction

 

 

 

 

 

 

 

 

 

 

 

Homebuilder

 

4,206

 

2,905

 

11,807

 

—

 

18,918

 

Land

 

3,755

 

3,032

 

3,214

 

—

 

10,001

 

Commercial speculative

 

1,306

 

—

 

18,734

 

—

 

20,040

 

All other

 

17,448

 

303

 

4,726

 

—

 

22,477

 

Real estate - residential

 

 

 

 

 

 

 

 

 

 

 

Investor

 

119,494

 

28,478

 

33,140

 

—

 

181,112

 

Owner occupied

 

118,658

 

271

 

19,383

 

—

 

138,312

 

Revolving and junior leins

 

151,928

 

821

 

5,027

 

—

 

157,776

 

Consumer

 

3,776

 

—

 

13

 

—

 

3,789

 

All other

 

10,755

 

1,127

 

—

 

—

 

11,882

 

Total

 

$

1,036,736

 

$

99,810

 

$

232,439

 

$

—

 

$

1,368,985

 

 

December 31, 2010

 

Pass

 

Special
Mention

 

Substandard (1)

 

Doubtful

 

Total

 

Commercial

 

$

130,564

 

$

4,122

 

$

17,640

 

$

—

 

$

152,326

 

Real estate - commercial

 

 

 

 

 

 

 

 

 

 

 

Owner occupied general purpose

 

127,527

 

6,633

 

43,797

 

—

 

177,957

 

Owner occupied special purpose

 

143,165

 

9,762

 

56,130

 

—

 

209,057

 

Non-owner occupied general purpose

 

126,316

 

5,414

 

43,682

 

—

 

175,412

 

Non-owner occupied special purpose

 

91,737

 

—

 

24,666

 

—

 

116,403

 

Retail properties

 

48,661

 

8,304

 

41,973

 

—

 

98,938

 

Farm

 

30,812

 

—

 

12,522

 

—

 

43,334

 

Real estate - construction

 

 

 

 

 

 

 

 

 

 

 

Homebuilder

 

6,470

 

2,780

 

27,644

 

—

 

36,894

 

Land

 

9,327

 

3,036

 

21,164

 

—

 

33,527

 

Commercial speculative

 

15,937

 

567

 

19,980

 

—

 

36,484

 

All other

 

15,024

 

—

 

7,672

 

—

 

22,696

 

Real estate - residential

 

 

 

 

 

 

 

 

 

 

 

Investor

 

166,465

 

15,487

 

41,972

 

—

 

223,924

 

Owner occupied

 

132,833

 

545

 

26,494

 

—

 

159,872

 

Revolving and junior leins

 

168,596

 

599

 

4,644

 

—

 

173,839

 

Consumer

 

4,793

 

62

 

94

 

—

 

4,949

 

All other

 

24,376

 

141

 

—

 

—

 

24,517

 

Total

 

$

1,242,603

 

$

57,452

 

$

390,074

 

$

—

 

$

1,690,129

 

 

 

(1) The substandard credit quailty indicator includes both potential problem loans that are currently performing and nonperforming loans

 

Impaired loans by class of loan as of December 31, 2011 were as follows:

 

 

 

 

 

 

 

 

 

Year to date

 

 

 

 

 

 

 

 

 

December 31, 2011

 

 

 

Recorded
Investment

 

Unpaid
Principal
Balance

 

Related
Allowance

 

Average
Recorded
Investment

 

Interest
Income
Recognized

 

With no related allowance recorded

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

512

 

$

560

 

$

—

 

$

271

 

$

—

 

Commercial real estate

 

 

 

 

 

 

 

 

 

 

 

Owner occupied general purpose

 

4,759

 

6,538

 

—

 

5,632

 

—

 

Owner occupied special purpose

 

12,606

 

15,862

 

—

 

11,659

 

—

 

Non-owner occupied general purpose

 

8,301

 

11,734

 

—

 

9,659

 

218

 

Non-owner occupied special purpose

 

1,380

 

1,545

 

—

 

2,563

 

—

 

Retail properties

 

4,586

 

5,920

 

—

 

7,416

 

—

 

Farm

 

1,078

 

1,198

 

—

 

910

 

—

 

Construction

 

 

 

 

 

 

 

 

 

 

 

Homebuilder

 

10,672

 

17,643

 

—

 

15,540

 

134

 

Land

 

2,025

 

6,222

 

—

 

5,799

 

—

 

Commercial speculative

 

9,549

 

27,134

 

—

 

9,629

 

—

 

All other

 

4,309

 

6,576

 

—

 

4,979

 

—

 

Residential

 

 

 

 

 

 

 

 

 

 

 

Investor

 

2,981

 

11,927

 

—

 

7,594

 

—

 

Owner occupied

 

11,880

 

13,487

 

—

 

13,552

 

99

 

Revolving and junior liens

 

1,489

 

1,693

 

—

 

1,231

 

—

 

Consumer

 

—

 

—

 

 

 

4

 

—

 

Total impaired loans with no recorded allowance

 

76,127

 

128,039

 

—

 

96,438

 

451

 

With an allowance recorded

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

653

 

740

 

392

 

2,144

 

—

 

Commercial real estate

 

 

 

 

 

 

 

 

 

 

 

Owner occupied general purpose

 

7,985

 

8,291

 

1,397

 

10,045

 

—

 

Owner occupied special purpose

 

3,958

 

5,448

 

407

 

9,616

 

—

 

Non-owner occupied general purpose

 

8,397

 

9,942

 

2,187

 

11,501

 

—

 

Non-owner occupied special purpose

 

434

 

437

 

98

 

4,375

 

—

 

Retail properties

 

11,311

 

12,389

 

3,506

 

12,719

 

—

 

Farm

 

496

 

496

 

28

 

248

 

—

 

Construction

 

 

 

 

 

 

 

 

 

 

 

Homebuilder

 

2,204

 

2,816

 

376

 

4,149

 

—

 

Land

 

—

 

—

 

—

 

5,522

 

—

 

Commercial speculative

 

4,668

 

5,371

 

1,683

 

4,920

 

—

 

All other

 

380

 

422

 

225

 

373

 

—

 

Residential

 

 

 

 

 

 

 

 

 

 

 

Investor

 

12,287

 

12,844

 

1,808

 

10,909

 

13

 

Owner occupied

 

8,373

 

9,762

 

626

 

9,316

 

164

 

Revolving and junior liens

 

1,352

 

1,656

 

321

 

969

 

—

 

Consumer

 

—

 

—

 

—

 

—

 

—

 

Total impaired loans with a recorded allowance

 

62,498

 

70,614

 

13,054

 

86,806

 

177

 

Total impaired loans

 

$

138,625

 

$

198,653

 

$

13,054

 

$

183,244

 

$

628

 

 

Impaired loans by class of loan as of December 31, 2010 were as follows:

 

 

 

Recorded
Investment

 

Unpaid
Principal
Balance

 

Related
Allowance

 

With no related allowance recorded

 

 

 

 

 

 

 

Commercial

 

$

31

 

$

994

 

$

—

 

Commercial real estate

 

 

 

 

 

 

 

Owner occupied general purpose

 

6,505

 

7,238

 

—

 

Owner occupied special purpose

 

10,713

 

12,935

 

—

 

Non-owner occupied general purpose

 

11,017

 

15,030

 

—

 

Non-owner occupied special purpose

 

3,745

 

6,621

 

—

 

Retail properties

 

10,247

 

15,354

 

—

 

Farm

 

741

 

862

 

—

 

Construction

 

 

 

 

 

 

 

Homebuilder

 

20,409

 

34,569

 

—

 

Land

 

9,572

 

20,234

 

—

 

Commercial speculative

 

9,710

 

26,650

 

—

 

All other

 

5,648

 

8,227

 

—

 

Residential

 

 

 

 

 

 

 

Investor

 

12,207

 

16,750

 

—

 

Owner occupied

 

15,224

 

16,749

 

—

 

Revolving and junior leins

 

973

 

1,010

 

—

 

Consumer

 

7

 

14

 

 

 

Total impaired loans with no recorded allowance

 

116,749

 

183,237

 

—

 

With an allowance recorded

 

 

 

 

 

 

 

Commercial

 

3,635

 

3,671

 

1,349

 

Commercial real estate

 

 

 

 

 

 

 

Owner occupied general purpose

 

12,105

 

14,912

 

1,742

 

Owner occupied special purpose

 

15,274

 

18,886

 

3,933

 

Non-owner occupied general purpose

 

14,606

 

16,946

 

6,063

 

Non-owner occupied special purpose

 

8,315

 

8,615

 

1,560

 

Retail properties

 

14,127

 

15,215

 

1,769

 

Farm

 

—

 

—

 

—

 

Construction

 

 

 

 

 

 

 

Homebuilder

 

6,093

 

9,291

 

1,020

 

Land

 

11,045

 

11,523

 

978

 

Commercial speculative

 

5,171

 

8,363

 

1,674

 

All other

 

366

 

502

 

25

 

Residential

 

 

 

 

 

 

 

Investor

 

9,532

 

10,441

 

1,520

 

Owner occupied

 

10,259

 

10,589

 

1,096

 

Revolving and junior leins

 

585

 

664

 

258

 

Consumer

 

—

 

—

 

—

 

Total impaired loans with a recorded allowance

 

111,113

 

129,618

 

22,987

 

Total Impaired Loans

 

$

227,862

 

$

312,855

 

$

22,987

 

 

Troubled debt restructurings (“TDR”) are loans for which the contractual terms have been modified and both of these conditions exist: (1) there is a concession of principal or interest and (2) the borrower is experiencing financial difficulties.  Loans are restructured on a case-by-case basis during the loan collection process with modifications generally initiated at the request of the borrower.  These modifications may include reduction in interest rates, extension of term, deferrals of principal, and other modifications.  The Bank does participate in the U.S. Department of the Treasury (the “Treasury”)’s Home Affordable Modification Program (“HAMP”) which gives qualifying homeowners an opportunity to refinance into more affordable monthly payments.

 

The specific allocation of the allowance for loan losses on TDRs is determined by discounting the modified cash flows at the original effective rate of the loan before modification or is based on the underlying collateral value less costs to sell, if repayment of the loan is collateral-dependent. If the resulting amount is less than the recorded book value, the Bank either establishes a valuation allowance (i.e. specific reserve) as a component of the allowance for loan losses or charges off the impaired balance if it determines that such amount is a confirmed loss. This method is used consistently for all segments of the portfolio. The allowance for loan losses also includes an allowance based on a loss migration analysis for each loan category for loans that are not individually evaluated for specific impairment. All loans charged-off, including TDRs charged-off, are factored into this calculation by portfolio segment.

 

TDR’s outstanding by class are summarized as follows:

 

 

 

As of December 31, 2011

 

 

 

TDR Modifications

 

TDR Modifications

 

 

 

Accruing interest

 

Nonaccrual

 

 

 

# of
contracts

 

Recorded
investment

 

# of
contracts

 

Recorded
investment

 

Troubled debt restructurings

 

 

 

 

 

 

 

 

 

Commercial

 

—

 

$

—

 

1

 

$

17

 

Real estate - commercial

 

 

 

 

 

 

 

 

 

Owner occupied general purpose

 

—

 

—

 

2

 

147

 

Owner occupied special purpose

 

—

 

—

 

2

 

377

 

Non-owner occupied general purpose

 

2

 

3,805

 

4

 

2,488

 

Non-owner occupied special purpose

 

—

 

—

 

1

 

434

 

Real estate - construction

 

 

 

 

 

 

 

 

 

Homebuilder

 

2

 

2,683

 

6

 

4,474

 

Land

 

—

 

—

 

1

 

737

 

Commercial speculative

 

—

 

—

 

1

 

65

 

Real estate - residential

 

 

 

 

 

 

 

 

 

Investor

 

1

 

157

 

6

 

1,931

 

Owner occupied

 

34

 

5,194

 

30

 

5,519

 

 

 

39

 

$

11,839

 

54

 

$

16,189

 

 

TDR’s that were modified during the period are summarized as follows:

 

 

 

TDR Modifications

 

 

 

Twelve months ended 12/31/11

 

Accruing interest:

 

# of
contracts

 

Pre-modification
recorded investment

 

Post-modification
recorded investment

 

Troubled debt restructurings

 

 

 

 

 

 

 

Real estate - Commercial

 

 

 

 

 

 

 

Bifurcate(1)

 

1

 

1,150

 

1,137

 

Real estate - construction

 

 

 

 

 

 

 

Bifurcate(1)

 

1

 

688

 

688

 

Real estate - residential

 

 

 

 

 

 

 

Investor

 

 

 

 

 

 

 

HAMP(2)

 

1

 

306

 

157

 

Owner occupied

 

 

 

 

 

 

 

HAMP(2)

 

3

 

515

 

405

 

Deferral(3)

 

2

 

264

 

265

 

 

 

8

 

$

2,923

 

$

2,652

 

 

 

 

TDR Modifications

 

 

 

Twelve months ended 12/31/11

 

Nonaccrual:

 

# of
contracts

 

Pre-modification
recorded investment

 

Post-modification
recorded investment

 

Troubled debt restructurings

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

Deferral(3)

 

1

 

41

 

17

 

Real estate - commercial

 

 

 

 

 

 

 

Deferral(3)

 

4

 

2,160

 

587

 

Bifurcate(1)

 

1

 

400

 

376

 

Real estate - construction

 

 

 

 

 

 

 

Deferral(3)

 

1

 

68

 

66

 

Real estate - residential

 

 

 

 

 

 

 

Investor

 

 

 

 

 

 

 

Deferral(3)

 

1

 

1,052

 

969

 

 

 

8

 

$

3,721

 

$

2,015

 

 

 

(1) Bifurcate: Refers to an “A/B” restructure separated into two notes, charging off the entire B portion of the note.

(2) HAMP: Home Affordable Modification Program

(3) Deferral: Refers to the deferral of principal

 

TDR’s are classified as being in default on a case-by-case when they fail to be in compliance with the modified terms. The following table presents TDR’s that defaulted during the periods shown and were restructured within the 12 month period prior to default:

 

 

 

TDR Default Activity

 

 

 

Twelve Months ending 12/31/11

 

Troubled debt restructurings that
Subsequently Defaulted

 

# of
contracts

 

Pre-modification outstanding
recorded investment

 

Commercial

 

—

 

—

 

Real estate - commercial

 

 

 

 

 

Owner occupied general purpose

 

2

 

1,702

 

Owner occupied special purpose

 

—

 

—

 

Non-owner occupied general purpose

 

1

 

331

 

Non-owner occupied special purpose

 

—

 

—

 

Retail Properties

 

—

 

—

 

Farm

 

—

 

—

 

Real estate - construction

 

 

 

 

 

Homebuilder

 

—

 

—

 

Land

 

—

 

—

 

Commercial speculative

 

1

 

68

 

All other

 

—

 

—

 

Real estate - residential

 

 

 

 

 

Investor

 

2

 

1,248

 

Owner occupied

 

11

 

1,803

 

Revolving and junior liens

 

—

 

—

 

Consumer

 

—

 

—

 

All other

 

—

 

—

 

 

 

17

 

$

5,152

 

 

The Bank had no commitments to borrowers whose loans were classified as TDR’s at December 31, 2011.

 

Loans to principal officers, directors, and their affiliates, which are made in the ordinary course of business, were as follows at December 31:

 

 

 

2011

 

2010

 

Beginning balance

 

$

6,171

 

$

7,584

 

New loans

 

9,306

 

829

 

Repayments and other reductions

 

(9,461

)

(1,794

)

Change in related party status

 

(1,698

)

(448

)

Ending balance

 

$

4,318

 

$

6,171

 

 

The decrease in related party loans was related to the retirement of one director.  No loans to principal officers, directors, and their affiliates were past due greater than 90 days at December 31, 2011 or 2010.