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Loans Receivable, Net (Tables)
 12 Months Ended
Dec. 31, 2013
Loans Receivable, Net

The following table presents the Company’s loans receivable, net as of December 31, 2013 and 2012:

 

 

December 31,

 

(Dollars in thousands)

 

2013

 

 

2012

 

Commercial real estate loans:

 

 

 

 

 

 

 

 

Unpaid principal balance

 

$

1,468

 

 

$

1,734

 

Discount

 

 

(11

)

 

 

(12

)

Recorded investment

 

 

1,457

 

 

 

1,722

 

Allowance for loan losses

 

 

(50

)

 

 

(50

)

Total commercial real estate loans

 

 

1,407

 

 

 

1,672

 

Commercial loans:

 

 

 

 

 

 

 

 

Revolving lines of credit

 

 

-

 

 

 

-

 

Term note unpaid principal balance

 

 

-

 

 

 

1,000

 

Term note discount

 

 

-

 

 

 

(509

)

Recorded investment

 

 

-

 

 

 

491

 

Allowance for loan losses

 

 

-

 

 

 

-

 

Total commercial loans

 

 

-

 

 

 

491

 

Residential real estate loans:

 

 

 

 

 

 

 

 

Unpaid principal balance

 

 

-

 

 

 

44,904

 

Discount

 

 

-

 

 

 

(22,695

)

Recorded investment

 

 

-

 

 

 

22,209

 

Allowance for loan losses

 

 

-

 

 

 

-

 

Total residential real estate loans

 

 

-

 

 

 

22,209

 

Loans receivable, net

 

$

1,407

 

 

$

24,372

 

 
Loans Receivable, Net Due Within One Year

Loans receivable, net due within one year consists of the following as of December 31, 2013 and 2012:

 

 

December 31,

 

(Dollars in thousands)

 

2013

 

 

2012

 

Contractual principal payments due within one year(1):

 

 

 

 

 

 

 

 

Commercial real estate loans

 

$

85

 

 

$

93

 

Residential real estate loans

 

 

-

 

 

 

527

 

Loans receivable, net due within one year

 

$

85

 

 

$

620

 

(1) 

Excludes loans ninety or more days past due.

Delinquency Information for Loans Receivable

A credit quality indicator is a statistic used by management to monitor and assess the credit quality of loans receivable. Management monitors delinquencies as its primary credit quality indicator and the following table presents delinquency information for loans receivable as of December 31, 2013 and 2012, based on recorded investment:

(Dollars in thousands)

 

30-59 Days

Past Due

 

 

60-89 Days

Past Due

 

 

90 or More Days Past Due

 

 

Total

Past Due

 

 

Current

 

 

Total

 

December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate loans

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

1,457

 

 

$

1,457

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential real estate loans

 

$

2,457

 

 

$

569

 

 

$

2,816

 

 

$

5,842

 

 

$

16,367

 

 

$

22,209

 

Commercial real estate loans

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,722

 

 

 

1,722

 

Commercial loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revolving lines of credit

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Term note

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

491

 

 

 

491

 

Total commercial loans

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

491

 

 

 

491

 

Total

 

$

2,457

 

 

$

569

 

 

$

2,816

 

 

$

5,842

 

 

$

18,580

 

 

$

24,422