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Loans (Tables)
 6 Months Ended
Jun. 30, 2015
Loans [Abstract]  
Analysis of allowance for loan losses by portfolio segment
An analysis of the allowance for loan losses by portfolio segment for the three months ended June 30, follows:
  
Commercial
  
Mortgage
  
Installment
  
Payment
Plan
Receivables
  
Unallocated
  
Total
 
  
(In thousands)
 
2015
            
Balance at beginning of period
 
$
5,916
  
$
12,081
  
$
1,564
  
$
62
  
$
5,056
  
$
24,679
 
Additions (deductions)
                        
Provision for loan losses
  
177
   
(101
)
  
(45
)
  
3
   
(168
)
  
(134
)
Recoveries credited to allowance
  
652
   
319
   
284
   
-
   
-
   
1,255
 
Loans charged against the allowance
  
(38
)
  
(834
)
  
(342
)
  
-
   
-
   
(1,214
)
Balance at end of period
 
$
6,707
  
$
11,465
  
$
1,461
  
$
65
  
$
4,888
  
$
24,586
 
                         
2014
                        
Balance at beginning of period
 
$
5,763
  
$
17,000
  
$
2,061
  
$
87
  
$
5,526
  
$
30,437
 
Additions (deductions)
                        
Provision for loan losses
  
(1,070
)
  
(579
)
  
(76
)
  
(6
)
  
(114
)
  
(1,845
)
Recoveries credited to allowance
  
2,138
   
400
   
352
   
1
   
-
   
2,891
 
Loans charged against the allowance
  
(1,656
)
  
(1,279
)
  
(349
)
  
(2
)
  
-
   
(3,286
)
Balance at end of period
 
$
5,175
  
$
15,542
  
$
1,988
  
$
80
  
$
5,412
  
$
28,197
 
 
An analysis of the allowance for loan losses by portfolio segment for the six months ended June 30, follows:
  
Commercial
  
Mortgage
  
Installment
  
Payment
Plan
Receivables
  
Unallocated
  
Total
 
  
(In thousands)
 
2015
            
Balance at beginning of period
 
$
5,445
  
$
13,444
  
$
1,814
  
$
64
  
$
5,223
  
$
25,990
 
Additions (deductions)
                        
Provision for loan losses
  
505
   
(834
)
  
(130
)
  
1
   
(335
)
  
(793
)
Recoveries credited to allowance
  
1,085
   
557
   
603
   
-
   
-
   
2,245
 
Loans charged against the allowance
  
(328
)
  
(1,702
)
  
(826
)
  
-
   
-
   
(2,856
)
Balance at end of period
 
$
6,707
  
$
11,465
  
$
1,461
  
$
65
  
$
4,888
  
$
24,586
 
                         
2014
                        
Balance at beginning of period
 
$
6,827
  
$
17,195
  
$
2,246
  
$
97
  
$
5,960
  
$
32,325
 
Additions (deductions)
                        
Provision for loan losses
  
(563
)
  
(386
)
  
100
   
(20
)
  
(548
)
  
(1,417
)
Recoveries credited to allowance
  
2,493
   
858
   
603
   
5
   
-
   
3,959
 
Loans charged against the allowance
  
(3,582
)
  
(2,125
)
  
(961
)
  
(2
)
  
-
   
(6,670
)
Balance at end of period
 
$
5,175
  
$
15,542
  
$
1,988
  
$
80
  
$
5,412
  
$
28,197
 
Allowance for loan losses and recorded investment in loans by portfolio segment
Allowance for loan losses and recorded investment in loans by portfolio segment follows:
  
Commercial
  
Mortgage
  
Installment
  
Payment
Plan
Receivables
  
Unallocated
  
Total
 
  
(In thousands)
 
June 30, 2015
            
Allowance for loan losses
Individually evaluated for impairment
 
$
3,531
  
$
8,420
  
$
584
  
$
-
  
$
-
  
$
12,535
 
Collectively evaluated for impairment
  
3,176
   
3,045
   
877
   
65
   
4,888
   
12,051
 
Total ending allowance balance
 
$
6,707
  
$
11,465
  
$
1,461
  
$
65
  
$
4,888
  
$
24,586
 
                         
Loans
                        
Individually evaluated for impairment
 
$
31,802
  
$
69,097
  
$
6,248
  
$
-
      
$
107,147
 
Collectively evaluated for impairment
  
680,758
   
402,719
   
223,191
   
40,577
       
1,347,245
 
Total loans recorded investment
  
712,560
   
471,816
   
229,439
   
40,577
       
1,454,392
 
Accrued interest included in recorded investment
  
1,553
   
2,154
   
678
   
-
       
4,385
 
Total loans
 
$
711,007
  
$
469,662
  
$
228,761
  
$
40,577
      
$
1,450,007
 
                         
December 31, 2014
                        
Allowance for loan losses
Individually evaluated for impairment
 
$
3,194
  
$
9,311
  
$
728
  
$
-
  
$
-
  
$
13,233
 
Collectively evaluated for impairment
  
2,251
   
4,133
   
1,086
   
64
   
5,223
   
12,757
 
Total ending allowance balance
 
$
5,445
  
$
13,444
  
$
1,814
  
$
64
  
$
5,223
  
$
25,990
 
                         
Loans
                        
Individually evaluated for impairment
 
$
34,147
  
$
72,340
  
$
6,679
  
$
-
      
$
113,166
 
Collectively evaluated for impairment
  
658,423
   
402,458
   
200,368
   
40,001
       
1,301,250
 
Total loans recorded investment
  
692,570
   
474,798
   
207,047
   
40,001
       
1,414,416
 
Accrued interest included in recorded investment
  
1,615
   
2,170
   
669
   
-
       
4,454
 
Total loans
 
$
690,955
  
$
472,628
  
$
206,378
  
$
40,001
      
$
1,409,962
 
Loans on non-accrual status and past due more than 90 days
Loans on non-accrual status and past due more than 90 days (“Non-performing Loans”) follow:

  
90+ and
Still
Accruing
  
Non-
Accrual
  
Total Non-
Performing
Loans
 
  
(In thousands)
 
June 30, 2015
      
Commercial
      
Income producing - real estate
 
$
-
  
$
1,151
  
$
1,151
 
Land, land development and construction - real estate
  
-
   
552
   
552
 
Commercial and industrial
  
64
   
2,467
   
2,531
 
Mortgage
            
1-4 family
  
-
   
5,200
   
5,200
 
Resort lending
  
-
   
1,268
   
1,268
 
Home equity - 1st lien
  
-
   
257
   
257
 
Home equity - 2nd lien
  
-
   
187
   
187
 
Installment
            
Home equity - 1st lien
  
-
   
210
   
210
 
Home equity - 2nd lien
  
-
   
475
   
475
 
Loans not secured by real estate
  
-
   
486
   
486
 
Other
  
-
   
3
   
3
 
Payment plan receivables
            
Full refund
  
-
   
8
   
8
 
Partial refund
  
-
   
8
   
8
 
Other
  
-
   
2
   
2
 
Total recorded investment
 
$
64
  
$
12,274
  
$
12,338
 
Accrued interest included in recorded investment
 
$
1
  
$
-
  
$
1
 
 
December 31, 2014
            
Commercial
            
Income producing - real estate
 
$
-
  
$
1,233
  
$
1,233
 
Land, land development and construction - real estate
  
-
   
594
   
594
 
Commercial and industrial
  
-
   
2,746
   
2,746
 
Mortgage
            
1-4 family
  
7
   
5,945
   
5,952
 
Resort lending
  
-
   
2,168
   
2,168
 
Home equity - 1st lien
  
-
   
331
   
331
 
Home equity - 2nd lien
  
-
   
605
   
605
 
Installment
            
Home equity - 1st lien
  
-
   
576
   
576
 
Home equity - 2nd lien
  
-
   
517
   
517
 
Loans not secured by real estate
  
-
   
454
   
454
 
Other
  
-
   
48
   
48
 
Payment plan receivables
            
Full refund
  
-
   
2
   
2
 
Partial refund
  
-
   
12
   
12
 
Other
  
-
   
-
   
-
 
Total recorded investment
 
$
7
  
$
15,231
  
$
15,238
 
Accrued interest included in recorded investment
 
$
-
  
$
-
  
$
-
 
Aging analysis of loans by class
An aging analysis of loans by class follows:
  
Loans Past Due
  
Loans not
  
Total
 
  
30-59 days
  
60-89 days
  
90+ days
  
Total
  
Past Due
  
Loans
 
  
(In thousands)
 
June 30, 2015
            
Commercial
            
Income producing - real estate
 
$
112
  
$
26
  
$
720
  
$
858
  
$
258,349
  
$
259,207
 
Land, land development and construction - real estate
  
11
   
-
   
210
   
221
   
35,763
   
35,984
 
Commercial and industrial
  
787
   
-
   
114
   
901
   
416,468
   
417,369
 
Mortgage
                        
1-4 family
  
1,180
   
865
   
5,200
   
7,245
   
274,036
   
281,281
 
Resort lending
  
298
   
-
   
1,268
   
1,566
   
118,719
   
120,285
 
Home equity - 1st lien
  
29
   
35
   
257
   
321
   
22,322
   
22,643
 
Home equity - 2nd lien
  
239
   
180
   
187
   
606
   
47,001
   
47,607
 
Installment
                        
Home equity - 1st lien
  
416
   
187
   
210
   
813
   
18,887
   
19,700
 
Home equity - 2nd lien
  
228
   
38
   
475
   
741
   
24,244
   
24,985
 
Loans not secured by real estate
  
248
   
73
   
486
   
807
   
181,746
   
182,553
 
Other
  
3
   
2
   
3
   
8
   
2,193
   
2,201
 
Payment plan receivables
                        
Full refund
  
545
   
157
   
8
   
710
   
23,810
   
24,520
 
Partial refund
  
585
   
89
   
8
   
682
   
9,778
   
10,460
 
Other
  
82
   
21
   
2
   
105
   
5,492
   
5,597
 
Total recorded investment
 
$
4,763
  
$
1,673
  
$
9,148
  
$
15,584
  
$
1,438,808
  
$
1,454,392
 
Accrued interest included in recorded investment
 
$
32
  
$
22
  
$
1
  
$
55
  
$
4,330
  
$
4,385
 
                         
December 31, 2014
                        
Commercial
                        
Income producing - real estate
 
$
89
  
$
-
  
$
214
  
$
303
  
$
252,763
  
$
253,066
 
Land, land development and construction - real estate
  
131
   
-
   
223
   
354
   
33,984
   
34,338
 
Commercial and industrial
  
2,391
   
279
   
209
   
2,879
   
402,287
   
405,166
 
Mortgage
                        
1-4 family
  
1,877
   
1,638
   
5,952
   
9,467
   
269,719
   
279,186
 
Resort lending
  
226
   
-
   
2,168
   
2,394
   
126,342
   
128,736
 
Home equity - 1st lien
  
39
   
50
   
331
   
420
   
19,782
   
20,202
 
Home equity - 2nd lien
  
711
   
89
   
605
   
1,405
   
45,269
   
46,674
 
Installment
                        
Home equity - 1st lien
  
466
   
37
   
576
   
1,079
   
20,995
   
22,074
 
Home equity - 2nd lien
  
369
   
81
   
517
   
967
   
28,125
   
29,092
 
Loans not secured by real estate
  
589
   
231
   
454
   
1,274
   
152,115
   
153,389
 
Other
  
15
   
3
   
48
   
66
   
2,426
   
2,492
 
Payment plan receivables
                        
Full refund
  
838
   
214
   
2
   
1,054
   
26,799
   
27,853
 
Partial refund
  
409
   
123
   
12
   
544
   
6,550
   
7,094
 
Other
  
96
   
24
   
-
   
120
   
4,934
   
5,054
 
Total recorded investment
 
$
8,246
  
$
2,769
  
$
11,311
  
$
22,326
  
$
1,392,090
  
$
1,414,416
 
Accrued interest included in recorded investment
 
$
55
  
$
29
  
$
-
  
$
84
  
$
4,370
  
$
4,454
 
Impaired loans
Impaired loans are as follows:

  
June 30,
2015
  
December 31,
2014
 
Impaired loans with no allocated allowance
 
(In thousands)
 
TDR
 
$
9,074
  
$
9,325
 
Non - TDR
  
283
   
299
 
Impaired loans with an allocated allowance
        
TDR - allowance based on collateral
  
4,439
   
5,879
 
TDR - allowance based on present value cash flow
  
90,814
   
94,970
 
Non - TDR - allowance based on collateral
  
2,190
   
2,296
 
Non - TDR - allowance based on present value cash flow
  
-
   
-
 
Total impaired loans
 
$
106,800
  
$
112,769
 
         
Amount of allowance for loan losses allocated
        
TDR - allowance based on collateral
 
$
1,655
  
$
2,025
 
TDR - allowance based on present value cash flow
  
9,430
   
10,188
 
Non - TDR - allowance based on collateral
  
1,450
   
1,020
 
Non - TDR - allowance based on present value cash flow
  
-
   
-
 
Total amount of allowance for loan losses allocated
 
$
12,535
  
$
13,233
 
 
Impaired loans by class are as follows (1):
 
  
June 30, 2015
  
December 31, 2014
 
  
Recorded
Investment
  
Unpaid
Principal
Balance
  
Related
Allowance
  
Recorded
Investment
  
Unpaid
Principal
Balance
  
Related
Allowance
 
With no related allowance recorded:
 
(In thousands)
   
Commercial
            
Income producing - real estate
 
$
5,488
  
$
5,717
  
$
-
  
$
5,868
  
$
6,077
  
$
-
 
Land, land development & construction-real estate
  
1,012
   
1,579
   
-
   
1,051
   
1,606
   
-
 
Commercial and industrial
  
2,859
   
2,839
   
-
   
2,685
   
2,667
   
-
 
Mortgage
                        
1-4 family
  
25
   
169
   
-
   
-
   
49
   
-
 
Resort lending
  
-
   
-
   
-
   
48
   
397
   
-
 
Home equity - 1st lien
  
-
   
-
   
-
   
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
   
-
   
-
   
-
 
Installment
                        
Home equity - 1st lien
  
-
   
37
   
-
   
-
   
40
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
   
-
   
-
   
-
 
Loans not secured by real estate
  
-
   
-
   
-
   
-
   
-
   
-
 
Other
  
-
   
-
   
-
   
-
   
-
   
-
 
   
9,384
   
10,341
   
-
   
9,652
   
10,836
   
-
 
With an allowance recorded:
                        
Commercial
                        
Income producing - real estate
  
12,895
   
13,881
   
767
   
12,836
   
13,797
   
689
 
Land, land development & construction-real estate
  
1,925
   
2,013
   
374
   
3,456
   
3,528
   
499
 
Commercial and industrial
  
7,623
   
7,870
   
2,390
   
8,251
   
8,486
   
2,006
 
Mortgage
                        
1-4 family
  
50,166
   
52,274
   
5,562
   
53,206
   
56,063
   
6,195
 
Resort lending
  
18,499
   
18,761
   
2,830
   
18,799
   
18,963
   
3,075
 
Home equity - 1st lien
  
158
   
174
   
11
   
162
   
177
   
14
 
Home equity - 2nd lien
  
249
   
328
   
17
   
125
   
205
   
27
 
Installment
                        
Home equity - 1st lien
  
2,514
   
2,688
   
156
   
2,744
   
2,930
   
219
 
Home equity - 2nd lien
  
3,066
   
3,079
   
367
   
3,212
   
3,215
   
419
 
Loans not secured by real estate
  
658
   
767
   
60
   
711
   
835
   
89
 
Other
  
10
   
10
   
1
   
12
   
12
   
1
 
   
97,763
   
101,845
   
12,535
   
103,514
   
108,211
   
13,233
 
Total
                        
Commercial
                        
Income producing - real estate
  
18,383
   
19,598
   
767
   
18,704
   
19,874
   
689
 
Land, land development & construction-real estate
  
2,937
   
3,592
   
374
   
4,507
   
5,134
   
499
 
Commercial and industrial
  
10,482
   
10,709
   
2,390
   
10,936
   
11,153
   
2,006
 
Mortgage
                        
1-4 family
  
50,191
   
52,443
   
5,562
   
53,206
   
56,112
   
6,195
 
Resort lending
  
18,499
   
18,761
   
2,830
   
18,847
   
19,360
   
3,075
 
Home equity - 1st lien
  
158
   
174
   
11
   
162
   
177
   
14
 
Home equity - 2nd lien
  
249
   
328
   
17
   
125
   
205
   
27
 
Installment
                        
Home equity - 1st lien
  
2,514
   
2,725
   
156
   
2,744
   
2,970
   
219
 
Home equity - 2nd lien
  
3,066
   
3,079
   
367
   
3,212
   
3,215
   
419
 
Loans not secured by real estate
  
658
   
767
   
60
   
711
   
835
   
89
 
Other
  
10
   
10
   
1
   
12
   
12
   
1
 
Total
 
$
107,147
  
$
112,186
  
$
12,535
  
$
113,166
  
$
119,047
  
$
13,233
 
                         
Accrued interest included in recorded investment
 
$
347
          
$
397
         

(1)There were no impaired payment plan receivables at June 30, 2015 or December 31, 2014.
Average recorded investment in and interest income earned on impaired loans by class
Average recorded investment in and interest income earned on impaired loans by class for the three month periods ending June 30, follows (1):
 
  
2015
  
2014
 
  
Average
Recorded
Investment
  
Interest
Income
Recognized
  
Average
Recorded
Investment
  
Interest
Income
Recognized
 
With no related allowance recorded:
 
(In thousands)
 
Commercial
        
Income producing - real estate
 
$
5,658
  
$
50
  
$
8,403
  
$
86
 
Land, land development & construction-real estate
  
1,021
   
15
   
821
   
15
 
Commercial and industrial
  
2,855
   
37
   
3,352
   
26
 
Mortgage
                
1-4 family
  
25
   
2
   
33
   
-
 
Resort lending
  
7
   
-
   
35
   
-
 
Home equity - 1st lien
  
-
   
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
   
-
 
Installment
                
Home equity - 1st lien
  
-
   
1
   
-
   
1
 
Home equity - 2nd lien
  
-
   
-
   
-
   
-
 
Loans not secured by real estate
  
-
   
-
   
-
   
-
 
Other
  
-
   
-
   
-
   
-
 
   
9,566
   
105
   
12,644
   
128
 
With an allowance recorded:
                
Commercial
                
Income producing - real estate
  
12,878
   
163
   
12,780
   
141
 
Land, land development & construction-real estate
  
1,943
   
13
   
4,418
   
40
 
Commercial and industrial
  
7,863
   
67
   
8,615
   
80
 
Mortgage
                
1-4 family
  
50,931
   
539
   
56,778
   
589
 
Resort lending
  
18,482
   
173
   
19,485
   
195
 
Home equity - 1st lien
  
160
   
2
   
160
   
2
 
Home equity - 2nd lien
  
185
   
4
   
40
   
-
 
Installment
                
Home equity - 1st lien
  
2,576
   
44
   
2,861
   
44
 
Home equity - 2nd lien
  
3,101
   
49
   
3,453
   
48
 
Loans not secured by real estate
  
668
   
9
   
715
   
7
 
Other
  
11
   
1
   
15
   
1
 
   
98,798
   
1,064
   
109,320
   
1,147
 
Total
                
Commercial
                
Income producing - real estate
  
18,536
   
213
   
21,183
   
227
 
Land, land development & construction-real estate
  
2,964
   
28
   
5,239
   
55
 
Commercial and industrial
  
10,718
   
104
   
11,967
   
106
 
Mortgage
                
1-4 family
  
50,956
   
541
   
56,811
   
589
 
Resort lending
  
18,489
   
173
   
19,520
   
195
 
Home equity - 1st lien
  
160
   
2
   
160
   
2
 
Home equity - 2nd lien
  
185
   
4
   
40
   
-
 
Installment
                
Home equity - 1st lien
  
2,576
   
45
   
2,861
   
45
 
Home equity - 2nd lien
  
3,101
   
49
   
3,453
   
48
 
Loans not secured by real estate
  
668
   
9
   
715
   
7
 
Other
  
11
   
1
   
15
   
1
 
Total
 
$
108,364
  
$
1,169
  
$
121,964
  
$
1,275
 

(1)There were no impaired payment plan receivables during the three month periods ended June 30, 2015 and 2014, respectively.
 
 Average recorded investment in and interest income earned on impaired loans by class for the  six month periods ending June 30, follows (1):
 
  
2015
  
2014
 
  
Average
Recorded
Investment
  
Interest
Income
Recognized
  
Average
Recorded
Investment
  
Interest
Income
Recognized
 
With no related allowance recorded:
 
(In thousands)
 
Commercial
        
Income producing - real estate
 
$
5,728
  
$
103
  
$
7,949
  
$
186
 
Land, land development & construction-real estate
  
1,031
   
49
   
1,276
   
28
 
Commercial and industrial
  
2,798
   
74
   
3,605
   
66
 
Mortgage
                
1-4 family
  
17
   
2
   
24
   
-
 
Resort lending
  
20
   
-
   
35
   
-
 
Home equity line of credit - 1st lien
  
-
   
-
   
-
   
-
 
Home equity line of credit - 2nd lien
  
-
   
-
   
-
   
-
 
Installment
                
Home equity installment - 1st lien
  
-
   
1
   
-
   
1
 
Home equity installment - 2nd lien
  
-
   
-
   
-
   
-
 
Loans not secured by real estate
  
-
   
-
   
-
   
-
 
Other
  
-
   
-
   
-
   
-
 
   
9,594
   
229
   
12,889
   
281
 
With an allowance recorded:
                
Commercial
                
Income producing - real estate
  
12,864
   
320
   
13,366
   
281
 
Land, land development & construction-real estate
  
2,447
   
27
   
4,067
   
82
 
Commercial and industrial
  
7,992
   
133
   
8,871
   
158
 
Mortgage
                
1-4 family
  
51,689
   
1,090
   
57,056
   
1,219
 
Resort lending
  
18,587
   
344
   
19,713
   
386
 
Home equity line of credit - 1st lien
  
160
   
4
   
158
   
3
 
Home equity line of credit - 2nd lien
  
165
   
6
   
41
   
1
 
Installment
                
Home equity installment - 1st lien
  
2,632
   
94
   
2,894
   
89
 
Home equity installment - 2nd lien
  
3,138
   
100
   
3,419
   
97
 
Loans not secured by real estate
  
682
   
19
   
724
   
17
 
Other
  
11
   
1
   
15
   
1
 
   
100,367
   
2,138
   
110,324
   
2,334
 
Total
                
Commercial
                
Income producing - real estate
  
18,592
   
423
   
21,315
   
467
 
Land, land development & construction-real estate
  
3,478
   
76
   
5,343
   
110
 
Commercial and industrial
  
10,790
   
207
   
12,476
   
224
 
Mortgage
                
1-4 family
  
51,706
   
1,092
   
57,080
   
1,219
 
Resort lending
  
18,607
   
344
   
19,748
   
386
 
Home equity line of credit - 1st lien
  
160
   
4
   
158
   
3
 
Home equity line of credit - 2nd lien
  
165
   
6
   
41
   
1
 
Installment
                
Home equity installment - 1st lien
  
2,632
   
95
   
2,894
   
90
 
Home equity installment - 2nd lien
  
3,138
   
100
   
3,419
   
97
 
Loans not secured by real estate
  
682
   
19
   
724
   
17
 
Other
  
11
   
1
   
15
   
1
 
Total
 
$
109,961
  
$
2,367
  
$
123,213
  
$
2,615
 

(1)There were no impaired payment plan receivables during the six month periods ended June 30, 2015 and 2014, respectively.
Troubled debt restructurings
Troubled debt restructurings follow:

  
June 30, 2015
 
  
Commercial
  
Retail
  
Total
 
  
(In thousands)
 
Performing TDRs
 
$
27,540
  
$
70,576
  
$
98,116
 
Non-performing TDRs(1)
  
1,698
   
4,513
(2) 
  
6,211
 
Total
 
$
29,238
  
$
75,089
  
$
104,327
 
             
  
December 31, 2014
 
  
Commercial
  
Retail
  
Total
 
  
(In thousands)
 
Performing TDRs
 
$
29,475
  
$
73,496
  
$
102,971
 
Non-performing TDRs(1)
  
1,978
   
5,225
(2) 
  
7,203
 
Total
 
$
31,453
  
$
78,721
  
$
110,174
 

(1)Included in non-performing loans table above.
(2)Also includes loans on non-accrual at the time of modification until six payments are received on a timely basis.
Troubled debt restructuring during the period
Loans that have been classified as troubled debt restructurings during the three-month periods ended June 30 follow:

  
Number of
Contracts
  
Pre-modification
Recorded
Balance
  
Post-modification
Recorded
Balance
 
  
(Dollars in thousands)
 
2015
      
Commercial
      
Income producing - real estate
  
1
  
$
73
  
$
73
 
Land, land development & construction-real estate
  
-
   
-
   
-
 
Commercial and industrial
  
1
   
17
   
17
 
Mortgage
            
1-4 family
  
1
   
25
   
40
 
Resort lending
  
1
   
313
   
309
 
Home equity - 1st lien
  
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
 
Installment
            
Home equity - 1st lien
  
1
   
23
   
24
 
Home equity - 2nd lien
  
3
   
58
   
58
 
Loans not secured by real estate
  
1
   
-
   
6
 
Other
  
-
   
-
   
-
 
Total
  
9
  
$
509
  
$
527
 
             
2014
            
Commercial
            
Income producing - real estate
  
1
  
$
141
  
$
122
 
Land, land development & construction-real estate
  
1
   
15
   
15
 
Commercial and industrial
  
2
   
1,177
   
1,439
 
Mortgage
            
1-4 family
  
3
   
226
   
229
 
Resort lending
  
1
   
339
   
341
 
Home equity - 1st lien
  
1
   
17
   
14
 
Home equity - 2nd lien
  
-
   
-
   
-
 
Installment
            
Home equity - 1st lien
  
2
   
314
   
294
 
Home equity - 2nd lien
  
2
   
73
   
72
 
Loans not secured by real estate
  
-
   
-
   
-
 
Other
  
-
   
-
   
-
 
Total
  
13
  
$
2,302
  
$
2,526
 
 
Loans that have been classified as troubled debt restructurings during the six-month periods ended June 30 follow:

  
Number of
Contracts
  
Pre-modification
Recorded
Balance
  
Post-modification
Recorded
Balance
 
  
(Dollars in thousands)
 
2015
      
Commercial
      
Income producing - real estate
  
2
  
$
229
  
$
234
 
Land, land development & construction-real estate
  
-
   
-
   
-
 
Commercial and industrial
  
3
   
253
   
247
 
Mortgage
            
1-4 family
  
6
   
1,030
   
845
 
Resort lending
  
1
   
313
   
309
 
Home equity - 1st lien
  
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
 
Installment
            
Home equity - 1st lien
  
5
   
190
   
164
 
Home equity - 2nd lien
  
3
   
58
   
58
 
Loans not secured by real estate
  
1
   
-
   
6
 
Other
  
-
   
-
   
-
 
Total
  
21
  
$
2,073
  
$
1,863
 
             
2014
            
Commercial
            
Income producing - real estate
  
3
  
$
354
  
$
332
 
Land, land development & construction-real estate
  
1
   
15
   
15
 
Commercial and industrial
  
6
   
1,367
   
1,628
 
Mortgage
            
1-4 family
  
7
   
950
   
968
 
Resort lending
  
3
   
633
   
634
 
Home equity - 1st lien
  
1
   
17
   
14
 
Home equity - 2nd lien
  
-
   
-
   
-
 
Installment
            
Home equity - 1st lien
  
5
   
420
   
372
 
Home equity - 2nd lien
  
5
   
294
   
292
 
Loans not secured by real estate
  
2
   
33
   
29
 
Other
  
-
   
-
   
-
 
Total
  
33
  
$
4,083
  
$
4,284
 
Troubled debt restructuring during the past twelve months that subsequently defaulted
Loans that have been classified as troubled debt restructurings during the past twelve months and that have subsequently defaulted during the three-month periods ended June 30 follow:

  
Number of
Contracts
  
Recorded
Balance
 
  
(Dollars in thousands)
 
2015
    
Commercial
    
Income producing - real estate
  
-
  
$
-
 
Land, land development & construction-real estate
  
-
   
-
 
Commercial and industrial
  
1
   
65
 
Mortgage
        
1-4 family
  
-
   
-
 
Resort lending
  
-
   
-
 
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Installment
        
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Loans not secured by real estate
  
1
   
4
 
Other
  
-
   
-
 
   
2
  
$
69
 
         
2014
        
Commercial
        
Income producing - real estate
  
-
  
$
-
 
Land, land development & construction-real estate
  
-
   
-
 
Commercial and industrial
  
1
   
253
 
Mortgage
        
1-4 family
  
-
   
-
 
Resort lending
  
-
   
-
 
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Installment
        
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Loans not secured by real estate
  
-
   
-
 
Other
  
-
   
-
 
   
1
  
$
253
 
 
Loans that have been classified as troubled debt restructurings during the past twelve months and that have subsequently defaulted during the six-month periods ended June 30 follow:

 
Number of
Contracts
  
Recorded
Balance
 
  
(Dollars in thousands)
 
2015
    
Commercial
    
Income producing - real estate
  
-
  
$
-
 
Land, land development & construction-real estate
  
-
   
-
 
Commercial and industrial
  
2
   
157
 
Mortgage
        
1-4 family
  
-
   
-
 
Resort lending
  
-
   
-
 
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Installment
        
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Loans not secured by real estate
  
1
   
4
 
Other
  
-
   
-
 
   
3
  
$
161
 
         
2014
        
Commercial
        
Income producing - real estate
  
-
  
$
-
 
Land, land development & construction-real estate
  
-
   
-
 
Commercial and industrial
  
1
   
253
 
Mortgage
        
1-4 family
  
-
   
-
 
Resort lending
  
-
   
-
 
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Installment
        
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Loans not secured by real estate
  
-
   
-
 
Other
  
-
   
-
 
   
1
  
$
253
 
Summary of loan ratings by loan class
The following table summarizes loan ratings by loan class for our commercial loan segment:

  
Commercial
 
  
Non-watch
1-6
  
Watch
7-8
  
Substandard
Accrual
9
  
Non-
Accrual
10-11
  
Total
 
      
(In thousands)
     
June 30, 2015
          
Income producing - real estate
 
$
244,392
  
$
7,606
  
$
6,058
  
$
1,151
  
$
259,207
 
Land, land development and construction - real estate
  
31,811
   
3,370
   
251
   
552
   
35,984
 
Commercial and industrial
  
374,628
   
35,160
   
5,114
   
2,467
   
417,369
 
Total
 
$
650,831
  
$
46,136
  
$
11,423
  
$
4,170
  
$
712,560
 
Accrued interest included in total
 
$
1,377
  
$
146
  
$
30
  
$
-
  
$
1,553
 
                     
December 31, 2014
                    
Income producing - real estate
 
$
241,266
  
$
8,649
  
$
1,918
  
$
1,233
  
$
253,066
 
Land, land development and construction - real estate
  
30,869
   
2,485
   
390
   
594
   
34,338
 
Commercial and industrial
  
372,947
   
23,475
   
5,998
   
2,746
   
405,166
 
Total
 
$
645,082
  
$
34,609
  
$
8,306
  
$
4,573
  
$
692,570
 
Accrued interest included in total
 
$
1,479
  
$
111
  
$
25
  
$
-
  
$
1,615
 

The following tables summarize credit scores by loan class for our mortgage and installment loan segments:

  
Mortgage (1)
 
  
1-4 Family
  
Resort
Lending
  
Home
Equity
1st Lien
  
Home
Equity
2nd Lien
  
Total
 
 
 
  
(In thousands)
 
June 30, 2015
          
800 and above
 
$
28,612
  
$
12,812
  
$
4,853
  
$
6,646
  
$
52,923
 
750-799
  
76,395
   
43,145
   
6,796
   
14,533
   
140,869
 
700-749
  
51,900
   
34,511
   
3,825
   
11,073
   
101,309
 
650-699
  
54,494
   
16,971
   
3,475
   
7,826
   
82,766
 
600-649
  
29,328
   
5,872
   
1,813
   
3,784
   
40,797
 
550-599
  
17,245
   
2,566
   
648
   
1,948
   
22,407
 
500-549
  
14,357
   
1,266
   
787
   
1,133
   
17,543
 
Under 500
  
4,351
   
997
   
210
   
406
   
5,964
 
Unknown
  
4,599
   
2,145
   
236
   
258
   
7,238
 
Total
 
$
281,281
  
$
120,285
  
$
22,643
  
$
47,607
  
$
471,816
 
Accrued interest included in total
 
$
1,349
  
$
510
  
$
95
  
$
200
  
$
2,154
 
                     
December 31, 2014
                    
800 and above
 
$
27,918
  
$
14,484
  
$
3,863
  
$
6,225
  
$
52,490
 
750-799
  
72,674
   
45,950
   
6,128
   
14,323
   
139,075
 
700-749
  
52,843
   
32,660
   
3,054
   
9,642
   
98,199
 
650-699
  
51,664
   
20,250
   
3,257
   
8,194
   
83,365
 
600-649
  
27,770
   
6,538
   
1,704
   
3,862
   
39,874
 
550-599
  
21,361
   
3,639
   
994
   
1,721
   
27,715
 
500-549
  
14,575
   
2,156
   
699
   
1,401
   
18,831
 
Under 500
  
6,306
   
875
   
261
   
632
   
8,074
 
Unknown
  
4,075
   
2,184
   
242
   
674
   
7,175
 
Total
 
$
279,186
  
$
128,736
  
$
20,202
  
$
46,674
  
$
474,798
 
Accrued interest included in total
 
$
1,311
  
$
562
  
$
88
  
$
209
  
$
2,170
 
 
(1)Credit scores have been updated within the last twelve months.

  
Installment(1)
 
  
Home
Equity
1st Lien
  
Home
Equity
2nd Lien
  
Loans not
Secured by
Real Estate
  
Other
  
Total
 
 
 
  
(In thousands)
 
June 30, 2015
          
800 and above
 
$
2,189
  
$
2,377
  
$
39,189
  
$
73
  
$
43,828
 
750-799
  
4,762
   
7,711
   
81,899
   
557
   
94,929
 
700-749
  
2,816
   
5,259
   
34,688
   
594
   
43,357
 
650-699
  
3,987
   
4,413
   
15,871
   
498
   
24,769
 
600-649
  
2,299
   
2,452
   
5,014
   
263
   
10,028
 
550-599
  
2,002
   
1,581
   
2,223
   
122
   
5,928
 
500-549
  
800
   
875
   
1,062
   
53
   
2,790
 
Under 500
  
780
   
301
   
502
   
12
   
1,595
 
Unknown
  
65
   
16
   
2,105
   
29
   
2,215
 
Total
 
$
19,700
  
$
24,985
  
$
182,553
  
$
2,201
  
$
229,439
 
Accrued interest included in total
 
$
76
  
$
89
  
$
496
  
$
17
  
$
678
 
                     
December 31, 2014
                    
800 and above
 
$
2,272
  
$
2,835
  
$
31,507
  
$
60
  
$
36,674
 
750-799
  
5,677
   
8,557
   
66,558
   
583
   
81,375
 
700-749
  
3,111
   
6,358
   
28,179
   
689
   
38,337
 
650-699
  
3,963
   
5,477
   
16,152
   
615
   
26,207
 
600-649
  
3,434
   
2,408
   
5,128
   
255
   
11,225
 
550-599
  
2,019
   
1,913
   
1,896
   
134
   
5,962
 
500-549
  
1,128
   
1,036
   
1,672
   
84
   
3,920
 
Under 500
  
393
   
427
   
455
   
28
   
1,303
 
Unknown
  
77
   
81
   
1,842
   
44
   
2,044
 
Total
 
$
22,074
  
$
29,092
  
$
153,389
  
$
2,492
  
$
207,047
 
Accrued interest included in total
 
$
93
  
$
112
  
$
445
  
$
19
  
$
669
 
 
(1)Credit scores have been updated within the last twelve months.

The following table summarizes credit ratings of insurer or risk retention group counterparties by class of payment plan receivable:

  
Payment Plan Receivables
 
  
Full
Refund
  
Partial
Refund
  
Other
  
Total
 
  
(In thousands)
 
June 30, 2015
        
AM Best rating
        
A+
 
$
-
  
$
17
  
$
-
  
$
17
 
A
  
4,850
   
9,674
   
-
   
14,524
 
A-
  
2,779
   
671
   
5,585
   
9,035
 
Not rated
  
16,891
   
98
   
12
   
17,001
 
Total
 
$
24,520
  
$
10,460
  
$
5,597
  
$
40,577
 
                 
December 31, 2014
                
AM Best rating
                
A+
 
$
-
  
$
43
  
$
-
  
$
43
 
A
  
10,007
   
6,190
   
-
   
16,197
 
A-
  
1,989
   
685
   
5,054
   
7,728
 
Not rated
  
15,857
   
176
   
-
   
16,033
 
Total
 
$
27,853
  
$
7,094
  
$
5,054
  
$
40,001