Loans

12 Months Ended

Dec. 31, 2011

Loans [Abstract]

LOANS

6. LOANS

Portfolio loans consist of the following:

		September 30,			September 30,
	December 31,			December 31,
	2011			2010
	(Dollars in thousands)
Real Estate:
One-to four-family residential	$	667,375		$	757,426
Multi-family residential		120,991			135,771
Nonresidential		276,198			331,390
Land		23,222			25,138
Construction:
One-to four-family residential and land development		59,339			108,583
Multi-family and nonresidential		4,528			15,077
Total real estate		1,151,653			1,373,385
Consumer
Home equity		191,827			220,582
Auto		8,933			11,525
Marine		5,900			7,285
Recreational vehicles		28,530			35,671
Other		3,207			4,390
Total consumer		238,397			279,453
Commercial
Secured		25,120			28,876
Unsecured		5,026			17,428
Total commercial		30,146			46,304
Total loans		1,420,196			1,699,142
Less:
Allowance for loan losses		42,271			50,883
Deferred loan costs, net		(1,351	)		(1,227	)
Total		40,920			49,656
Loans, net	$	1,379,276		$	1,649,486

The Bank Order required Home Savings to adopt and implement plans to reduce loan concentrations in nonowner-occupied commercial real estate loans and in construction, land development and land loans.

Loan commitments are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments extend over various periods of time with the majority of such commitments disbursed within a sixty-day period. Commitments generally have fixed expiration dates or other termination clauses, may require payment of a fee and may expire unused. Commitments to extend credit at fixed rates expose Home Savings to some degree of interest rate risk. Home Savings evaluates each customer’s creditworthiness on a case-by-case basis. The type or amount of collateral obtained varies and is based on management’s credit evaluation of the potential borrower. Home Savings normally has a number of outstanding commitments to extend credit.

		September 30,		September 30,		September 30,		September 30,
	December 31,
	2011				2010
	Fixed Rate		Variable Rate		Fixed Rate		Variable Rate
	(Dollars in thousands)
Commitments to make loans	$	45,603	$	3,446	$	53,677	$	7,137
Undisbursed loans in process		875		22,463		1,676		24,792
Unused lines of credit		43,735		68,688		52,232		61,444

Terms of the commitments in both years extend up to six months, but are generally less than two months. The fixed rate loan commitments have interest rates ranging from 2.50% to 18% and maturities ranging from three months to thirty years. Commitments to fund certain mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of mortgage loans to third party investors are considered derivatives. It is the Company’s practice to enter into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting from its commitments to fund the loans. These mortgage banking derivatives are not designated in hedge relationships. At year-end 2011, the Company had approximately $39.5 million of interest rate lock commitments and $6.9 million of forward commitments for the future delivery of residential mortgage loans. At year-end 2010, the Company had approximately $38.0 million of interest rate lock commitments and $19.8 million of forward commitments for the future delivery of residential mortgage loans. The fair value of these mortgage banking derivatives was not material at year end 2011 or 2010.

At both December 31, 2011 and 2010, there were $1.1 million, of outstanding standby letters of credit. These are issued to guarantee the performance of a customer to a third party. Standby letters of credit are generally contingent upon the failure of the customer to perform according to the terms of an underlying contract with the third party.

At December 31, 2011 and 2010, there was $43.1 million and $41.6 million in outstanding commitments to fund the OverdraftPrivledge™ Program at Home Savings. With OverdraftPrivledge™, Home Savings pays non-sufficient funds (NSF) checks and fees on checking accounts up to a preapproved limit.

Changes in the allowance for loan losses are as follows:

		September 30,			September 30,			September 30,
	Year ended December 31,
	2011			2010			2009
	(Dollars in thousands)
Balance, beginning of year	$	50,883		$	42,287		$	35,962
Provision for loan losses		24,658			62,427			49,074
Amounts charged off		(35,739	)		(55,079	)		(43,692	)
Recoveries		2,469			1,248			943
Balance, end of year	$	42,271		$	50,883		$	42,287

The following tables present activity and the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of and for the years ended December 31, 2011 and December 31, 2010.

Allowance For Loan Losses
(Dollars in thousands)
	Permanent Real Estate Loans			Construction Loans			Consumer Loans			Commercial Loans			Unallocated		Total
2011
Beginning balance	$	28,066		$	8,533		$	5,260		$	9,024		$	—	$	50,883
Provision		17,073			8,126			2,171			(2,712	)		—		24,658
Chargeoffs		(14,734	)		(12,504	)		(3,446	)		(5,055	)		—		(35,739	)
Recoveries		918			338			591			622			—		2,469
Net chargeoffs		(13,816	)		(12,166	)		(2,855	)		(4,433	)		—		(33,270	)
Ending balance	$	31,323		$	4,493		$	4,576		$	1,879		$	—	$	42,271
Period-end amount allocated to:
Loans individually evaluated for impairment	$	8,275		$	3,102		$	236		$	210		$	—	$	11,823
Loans collectively evaluated for impairment		23,048			1,391			4,340			1,669			—		30,448
Ending balance	$	31,323		$	4,493		$	4,576		$	1,879		$	—	$	42,271
Period-end balances:
Loans individually evaluated for impairment	$	115,290		$	30,587		$	3,734		$	3,956		$	—	$	153,567
Loans collectively evaluated for impairment		972,496			33,280			234,663			26,190			—		1,266,629
Ending balance	$	1,087,786		$	63,867		$	238,397		$	30,146		$	—	$	1,420,196

Allowance For Loan Losses
(Dollars in thousands)
	Permanent Real Estate Loans			Construction Loans			Consumer Loans			Commercial Loans			Unallocated		Total
2010
Beginning balance	$	15,288		$	19,020		$	4,959		$	3,020		$	—	$	42,287
Provision		40,595			10,028			4,079			7,725			—		62,427
Chargeoffs		(28,153	)		(20,648	)		(4,316	)		(1,962	)		—		(55,079	)
Recoveries		336			133			538			241			—		1,248
Net chargeoffs		(27,817	)		(20,515	)		(3,778	)		(1,721	)		—		(53,831	)
Ending balance	$	28,066		$	8,533		$	5,260		$	9,024		$	—	$	50,883
Period-end amount allocated to:
Loans individually evaluated for impairment	$	7,509		$	3,360		$	—		$	2,575		$	—	$	13,444
Loans collectively evaluated for impairment		20,557			5,173			5,260			6,449			—		37,439
Ending balance	$	28,066		$	8,533		$	5,260		$	9,024		$	—	$	50,883
Period-end balances:
Loans individually evaluated for impairment	$	101,410		$	47,054		$	1,547		$	6,444		$	—	$	156,455
Loans collectively evaluated for impairment		1,148,315			76,606			277,906			39,860			—		1,542,687
Ending balance	$	1,249,725		$	123,660		$	279,453		$	46,304		$	—	$	1,699,142

		September 30,		September 30,		September 30,
	As of or for the year ended December 31,
	2011		2010		2009
	(Dollars in thousands)
Impaired loans on which no specific valuation allowance was provided	$	87,591	$	71,853	$	82,443
Impaired loans on which specific valuation allowance was provided		65,976		84,602		36,362
Total impaired loans at year-end	$	153,567	$	156,455	$	118,805
Specific valuation allowances on impaired loans at year-end		11,823		13,444		4,064
Average impaired loans during year		161,799		144,977		103,026
Interest income recognized on impaired loans during the year		2,355		1,778		2,056
Interest income received on impaired loans during the year		5,611		4,570		2,056

The following table presents loans individually evaluated for impairment by class of loans as of and for the twelve months ended December 31, 2011:

Impaired Loans
(Dollars in thousands)
	Unpaid Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
With no specific allowance recorded
Permanent real estate
One-to four-family residential	$	32,372	$	28,566	$	—	$	26,016	$	557	$	868
Multifamily residential		5,112		4,205		—		3,798		—		218
Nonresidential		29,120		28,327		—		26,911		391		1,006
Land		9,213		7,290		—		6,739		38		198
Total		75,817		68,388		—		63,464		986		2,290
Construction loans
One-to four-family residential		19,081		12,532		—		15,300		284		441
Multifamily and nonresidential		707		—		—		96		—		—
Total		19,788		12,532		—		15,396		284		441
Consumer loans
Home Equity		4,908		3,139		—		1,620		61		124
Auto		80		59		—		68		1		5
Marine		—		—		—		—		—		—
Recreational vehicle		26		11		—		38		—		2
Other		7		7		—		7		—		—
Total		5,021		3,216		—		1,733		62		131
Commercial loans
Secured		3,875		3,084		—		1,627		35		531
Unsecured		22,716		371		—		370		7		128
Total		26,591		3,455		—		1,997		42		659
Total	$	127,217	$	87,591	$	—	$	82,590	$	1,374	$	3,521

		September 30,		September 30,		September 30,		September 30,		September 30,		September 30,
Impaired Loans (Continued)
(Dollars in thousands)
	Unpaid Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment		Interest Income Recognized		Cash Basis Income Recognized
With a specific allowance recorded
Permanent real estate
One-to four-family residential	$	2,487	$	1,721	$	152	$	2,993	$	—	$	35
Multifamily residential		4,077		2,387		187		3,594		10		61
Nonresidential		42,201		38,176		6,127		37,986		919		1,569
Land		5,074		4,618		1,809		3,049		—		175
Total		53,839		46,902		8,275		47,622		929		1,840
Construction loans
One-to four-family residential		35,759		18,055		3,102		24,089		47		221
Multifamily and nonresidential		—		—		—		—		—		—
Total		35,759		18,055		3,102		24,089		47		221
Consumer loans
Home Equity		—		—		—		—		—		—
Auto		—		—		—		—		—		—
Marine		482		482		218		121		—		19
Recreational vehicle		88		36		18		9		—		—
Other		—		—		—		—		—		—
Total		570		518		236		130		—		19
Commercial loans
Secured		776		427		136		6,124		5		10
Unsecured		105		74		74		1,244		—		—
Total		881		501		210		7,368		5		10
Total		91,049		65,976		11,823		79,209		981		2,090
Total	$	218,266	$	153,567	$	11,823	$	161,799	$	2,355	$	5,611

The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2010:

		September 30,		September 30,		September 30,
Impaired Loans
(Dollars in thousands)
	Unpaid Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated
With no specific allowance recorded
Permanent real estate	$	60,516	$	44,666	$	—
Construction loans		31,715		23,465		—
Consumer loans		3,407		1,547		—
Commercial loans		16,148		2,175		—
Total		111,786		71,853		—
With a specific allowance recorded
Permanent real estate		65,869		56,744		7,509
Construction loans		35,777		23,589		3,360
Consumer loans		—		—		—
Commercial loans		5,419		4,269		2,575
Total		107,065		84,602		13,444
Total	$	218,851	$	156,455	$	13,444

The unpaid principal balance is the total amount of the loan that is due to Home Savings. The recorded investment includes the unpaid principal balance less any charge-offs or partial charge-offs applied to specific loans. The unpaid principal balance and the recorded investment both exclude accrued interest receivable and deferred loan costs, both of which are not material.

The following tables present the recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans as of December 31, 2011:

		September 30,		September 30,
Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing
(Dollars in thousands)
	Nonaccrual		Loans past due over 90 days and still accruing
Real Estate Loans
Permanent
One-to four-family residential	$	26,637	$	—
Multifamily residential		5,860		—
Nonresidential		42,902		—
Land		11,142		—
Total		86,541		—
Construction Loans
One-to four-family residential		27,104		—
Multifamily and nonresidential		—		—
Total		27,104		—
Consumer Loans
Home Equity		4,198		39
Auto		170		—
Marine		479		—
Recreational vehicle		1,725		—
Other		9		—
Total		6,581		39
Commercial Loans
Secured		2,483		—
Unsecured		347		—
Total		2,830		—
Total	$	123,056	$	39

The following table presents the recorded investment in nonaccrual and loans past due over 90 days and still on accrual by class of loans as of December 31, 2010:

		September 30,		September 30,
Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing
(Dollars in thousands)
	Nonaccrual		Loans past due over 90 days and still accruing
Real Estate Loans
Permanent
One-to four-family residential	$	27,417	$	—
Multifamily residential		10,983		—
Nonresidential		39,838		—
Land		5,188		—
Total		83,426		—
Construction Loans
One-to four-family residential		40,077		3,944
Multifamily and nonresidential		382		2,032
Total		40,459		5,976
Consumer Loans
Home Equity		3,179		210
Auto		89		—
Marine		—		—
Recreational vehicle		93		144
Other		10		—
Total		3,371		354
Commercial Loans
Secured		1,822		—
Unsecured		4,123		—
Total		5,945		—
Total	$	133,201	$	6,330

The following tables present an age analysis of past-due loans, segregated by class of loans as of December 31, 2011:

		September 30,		September 30,		September 30,		September 30,		September 30,		September 30,
Past Due Loans
(Dollars in thousands)
	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Current Loans		Total Loans
Real Estate Loans
Permanent
One-to four-family residential	$	2,878	$	1,928	$	20,124	$	24,930	$	642,445	$	667,375
Multifamily residential		1,405		—		4,564		5,969		115,022		120,991
Nonresidential		6,820		971		41,151		48,942		227,256		276,198
Land		167		530		9,705		10,402		12,820		23,222
Total		11,270		3,429		75,544		90,243		997,543		1,087,786
Construction Loans
One-to four-family residential		979		1,718		24,608		27,305		32,034		59,339
Multifamily and nonresidential		—		—		—		—		4,528		4,528
Total		979		1,718		24,608		27,305		36,562		63,867
Consumer Loans
Home Equity		1,485		601		2,749		4,835		186,992		191,827
Auto		73		13		87		173		8,760		8,933
Marine		184		—		479		663		5,237		5,900
Recreational vehicle		867		754		1,044		2,665		25,865		28,530
Other		57		1		7		65		3,142		3,207
Total		2,666		1,369		4,366		8,401		229,996		238,397
Commercial Loans
Secured		554		—		96		650		24,470		25,120
Unsecured		69		—		237		306		4,720		5,026
Total		623		—		333		956		29,190		30,146
Total	$	15,538	$	6,516	$	104,851	$	126,905	$	1,293,291	$	1,420,196

The following table presents an age analysis of past-due loans, segregated by class of loans as of December 31, 2010:

		September 30,		September 30,		September 30,		September 30,		September 30,		September 30,
Past Due Loans
(Dollars in thousands)
	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Current Loans		Total Loans
Real Estate Loans
Permanent
One-to four-family residential	$	6,620	$	2,351	$	24,914	$	33,885	$	723,541	$	757,426
Multifamily residential		326		—		9,898		10,224		125,547		135,771
Nonresidential		1,888		13,146		30,382		45,416		285,974		331,390
Land		12		426		5,188		5,626		19,512		25,138
Total		8,846		15,923		70,382		95,151		1,154,574		1,249,725
Construction Loans
One-to four-family residential		3,688		7,579		42,855		54,122		54,461		108,583
Multifamily and nonresidential		—		—		2,414		2,414		12,663		15,077
Total		3,688		7,579		45,269		56,536		67,124		123,660
Consumer Loans
Home Equity		2,003		880		2,519		5,402		215,180		220,582
Auto		194		56		87		337		11,188		11,525
Marine		61		—		—		61		7,224		7,285
Recreational vehicle		1,693		618		188		2,499		33,172		35,671
Other		25		10		9		44		4,346		4,390
Total		3,976		1,564		2,803		8,343		271,110		279,453
Commercial Loans
Secured		163		—		1,822		1,985		26,891		28,876
Unsecured		43		—		3,554		3,597		13,831		17,428
Total		206		—		5,376		5,582		40,722		46,304
Total	$	16,716	$	25,066	$	123,830	$	165,612	$	1,533,530	$	1,699,142

Troubled Debt Restructurings:

Restructured loans were $50.9 million and $44.6 million at December 31, 2011 and December 31, 2010, respectively. The Company has allocated $2.0 million of specific reserves to customers whose loan terms were modified in TDRs as of December 31, 2011. Home Savings had no commitments to lend additional funds to customers with loans considered to be TDRs as of December 31, 2011. The Company had allocated $1.2 million of specific reserves to customers whose loan terms were modified in TDRs as of December 31, 2010. TDRs are considered impaired and are included in the impaired loan table above.

During the period ended December 31, 2011, the terms of certain loans were modified as TDRs. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. Modifications involving a reduction of the stated interest rate of a loan were for periods ranging from six months to 28 years. Modifications involving an extension of the maturity date were for periods ranging from six months to three years. Approximately $34.3 million in modifictions were done to extend the maturity date of the credit. This type of modification was primarily used for multifamily, nonresidential construction and consumer classes. The remaining balance, or approximately $16.6 million, were modified for rate or both rate and extension of the maturity date. This type of modification was used primarily for the one-to-four-family residential real estate class.

The following table presents loans by class modified as TDRs that occurred during the twelve months ended December 31, 2011:

		September 30,		September 30,		September 30,
	Number of loans		Pre- Modification Outstanding Recorded Investment		Post- Modification Recorded Investment
	(Dollars in thousands)
Real Estate Loans
Permanent
One-to four-family		55	$	7,344	$	7,485
Multifamily residential		2		2,246		2,246
Nonresidential		3		1,271		1,271
Land		4		4,292		3,524
Total		64		15,153		14,526
Construction Loans
One-to four-family residential		19		4,425		3,881
Multifamily and nonresidential		—		—		—
Total		19		4,425		3,881
Consumer Loans
Home Equity		54		1,847		1,841
Auto		1		21		21
Marine		—		—		—
Recreational vehicle		—		—		—
Other		—		—		—
Total		55		1,868		1,862
Commercial Loans
Secured		3		9,104		9,098
Unsecured		—		—		—
Total		3		9,104		9,098
Total Restructured Loans		141	$	30,550	$	29,367

The TDRs described above increased the allowance for loan losses by $344,000 and resulted in charge offs of $796,000 during the twelve months ended December 31, 2011.

The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the period ended December 31, 2011:

		September 30,		September 30,
	Number of loans		Recorded Investment
	(Dollars in thousands)
Real Estate Loans
Permanent
One-to four-family		44	$	4,893
Multifamily residential		3		3,273
Nonresidential		5		7,278
Land		5		1,773
Total		57		17,217
Construction Loans
One-to four-family residential		7		799
Multifamily and nonresidential		—		—
Total		7		799
Consumer Loans
Home Equity		1		94
Auto		1		4
Marine		—		—
Recreational vehicle		—		—
Other		—		—
Total		2		98
Commercial Loans
Secured		2		2,682
Unsecured		—		—
Total		2		2,682
Total Restructured Loans		68	$	20,796

A TDR is considered to be in payment default once it is 30 days contractually past due under the modified terms.

The TDRs that subsequently defaulted described above resulted in chargeoffs of $2.2 million during the period ended December 31, 2011.

The terms of certain other loans were modified during the period ended December 31, 2011 that did not meet the definition of a TDR. These loans have a total recorded investment as of December 31, 2011 of $16.4 million. The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant.

In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed in accordance with the Company’s internal underwriting policy.

Credit Quality Indicators:

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes homogenous loans past due 90 cumulative days, and all non-homogenous loans including commercial loans and commercial real estate loans.

Asset quality ratings are divided into two groups: Pass (unclassified) and Classified. Within the unclassified group, loans that display potential weakness are risk rated as special mention. In addition, there are three classified risk ratings: substandard, doubtful and loss. These specific credit risk categories are defined as follows:

Special Mention. Loans classified as special mention have 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 or of the institutions credit position at some future date. Loans may be housed in this category for no longer than 12 months during which time information is obtained to determine if the credit should be downgraded to the substandard category.

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.

Loss. Loans classified as loss are considered uncollectible and of such little value that continuance as assets is not warranted. Although there may be a chance of recovery on these assets, it is not practical or desirable to defer writing off the asset.

The Company monitors loans on a monthly basis to determine if they should be included in one of the categories listed above. All impaired non-homogeneous credits classified as Substandard, Doubtful or Loss are analyzed on an individual basis for a specific reserve requirement. This analysis is performed on each individual credit at least annually or more frequently if warranted. Loans that are not individually impaired and housed in the unclassified risk category have a loss factor percentage applied to the balance of the outstanding loan.

As of December 31, 2011 and 2010, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

		xxxx		xxxx		xxxx		xxxx		xxxx		xxxx		xxxx
	Loans December 31, 2011 (Dollars in thousands)
	Unclassified				Classified
	Unclassified		Special Mention		Substandard		Doubtful		Loss		Total Classified		Total Loans
Real Estate Loans
Permanent
One-to four-family residential	$	626,072	$	4,094	$	37,209	$	—	$	—	$	37,209	$	667,375
Multifamily residential		90,820		8,392		21,779		—		—		21,779		120,991
Nonresidential		149,314		18,388		108,496		—		—		108,496		276,198
Land		10,475		1,200		11,547		—		—		11,547		23,222
Total		876,681		32,074		179,031		—		—		179,031		1,087,786
Construction Loans
One-to four-family residential		28,396		2,394		28,520		29		—		28,549		59,339
Multifamily and nonresidential		4,528		—		—		—		—		—		4,528
Total		32,924		2,394		28,520		29		—		28,549		63,867
Consumer Loans
Home Equity		187,153		269		4,405		—		—		4,405		191,827
Auto		8,738		12		183		—		—		183		8,933
Marine		5,418		—		482		—		—		482		5,900
Recreational vehicle		26,728		—		1,802		—		—		1,802		28,530
Other		3,192		—		15		—		—		15		3,207
Total		231,229		281		6,887		—		—		6,887		238,397
Commercial Loans
Secured		20,895		263		3,962		—		—		3,962		25,120
Unsecured		2,861		166		1,999		—		—		1,999		5,026
Total		23,756		429		5,961		—		—		5,961		30,146
Total	$	1,164,590	$	35,178	$	220,399	$	29	$	—	$	220,428	$	1,420,196

		September 30,		September 30,		September 30,		September 30,		September 30,		September 30,		September 30,
	Loans December 31, 2010 (Dollars in thousands)
	Unclassified				Classified
	Unclassified		Special Mention		Substandard		Doubtful		Loss		Total Classified		Total Loans
Real Estate Loans
Permanent
One-to four-family residential	$	723,814	$	2,404	$	31,208	$	—	$	—	$	31,208	$	757,426
Multifamily residential		106,839		6,900		22,032		—		—		22,032		135,771
Nonresidential		200,816		55,197		75,377		—		—		75,377		331,390
Land		9,677		1,100		14,361		—		—		14,361		25,138
Total		1,041,146		65,601		142,978		—		—		142,978		1,249,725
Construction Loans
One-to four-family residential		47,308		6,122		55,021		132		—		55,153		108,583
Multifamily and nonresidential		1,091		13,604		382		—		—		382		15,077
Total		48,399		19,726		55,403		132		—		55,535		123,660
Consumer Loans
Home Equity		216,994		—		3,588		—		—		3,588		220,582
Auto		11,420		—		105		—		—		105		11,525
Marine		7,285		—		—		—		—		—		7,285
Recreational vehicle		35,430		—		241		—		—		241		35,671
Other		4,375		—		15		—		—		15		4,390
Total		275,504		—		3,949		—		—		3,949		279,453
Commercial Loans
Secured		14,608		1,327		12,134		807		—		12,941		28,876
Unsecured		9,327		2,132		4,304		1,665		—		5,969		17,428
Total		23,935		3,459		16,438		2,472		—		18,910		46,304
Total	$	1,388,984	$	88,786	$	218,768	$	2,604	$	—	$	221,372	$	1,699,142

Directors and officers of United Community and Home Savings are customers of Home Savings in the ordinary course of business. The following describes loans to officers and/or directors of United Community and Home Savings:

		September 30,
	(Dollars in thousands)
Balance as of December 31, 2010	$	494
New loans to officers and/or directors		510
Loan payments during 2011		(77	)
Reductions due to changes in officers and/or directors		(1	)
Balance as of December 31, 2011	$	926