XML 51 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
Loans by Type (Tables)
9 Months Ended
Sep. 30, 2013
Loans by Type [Abstract]  
Summary of Loan Categories

A summary of loan categories is as follows:

    September 30,   December 31,
(In thousands)   2013   2012
Commercial and industrial       $      155,388       $      160,862
Real estate            
       Commercial:            
                     Mortgage     125,789     134,843
                     Construction     9,073     7,025
       Church, church-related:            
                     Mortgage     337,521     368,118
                     Construction     6,490     16,450
Other     775     435
              Total loans   $ 635,036   $ 687,733

Schedule of the Aging Loans by Loan Categories

The following table presents the aging of loans by loan categories at September 30, 2013 and December 31, 2012:

    Performing   Nonperforming      
                      90 Days            
          30-59   60-89   and   Non-   Total
(In thousands)       Current       Days       Days       Over       accrual       Loans
September 30, 2013                                    
Commercial and industrial   $      155,317   $      -   $      -   $          -   $      71   $      155,388
Real estate                                    
       Commercial:                                    
              Mortgage     125,307     -     -     -     482     125,789
              Construction     9,073     -     -     -     -     9,073
       Church, church-related:                                    
              Mortgage     336,166     -     -     -     1,355     337,521
              Construction     6,490     -     -     -     -     6,490
Other     775     -     -     -     -     775
Total   $ 633,128   $ -   $ -   $ -   $ 1,908   $ 635,036
December 31, 2012                                    
Commercial and industrial   $ 159,423   $ -   $ -   $ -   $ 1,439   $ 160,862
Real estate                                    
       Commercial:                                    
              Mortgage     129,884     -     -     -     4,959     134,843
              Construction     7,025     -     -     -     -     7,025
       Church, church-related:                                    
              Mortgage     367,944     -     -     -     174     368,118
              Construction     16,450     -     -     -     -     16,450
Other     435     -     -     -     -     435
Total   $ 681,161   $ -   $ -   $ -   $ 6,572   $ 687,733

Schedule of Credit Exposure of the Loan Portfolio

The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of September 30, 2013 and December 31, 2012:

    Loans   Performing   Nonperforming      
    Subject to   Loans Subject to   Loans Subject      
    Normal   Special   to Special      
(In thousands)       Monitoring1       Monitoring 2       Monitoring 2       Total Loans
September 30, 2013                          
Commercial and industrial   $         152,188   $                   3,129   $                 71     $        155,388
Real estate                          
       Commercial:                          
              Mortgage     117,491     7,816     482       125,789
              Construction     9,073     -     -       9,073
       Church, church-related:                          
              Mortgage     334,062     2,104     1,355       337,521
              Construction     6,490     -     -       6,490
Other     775     -     -       775
Total   $ 620,079   $ 13,049   $ 1,908     $ 635,036
December 31, 2012                          
Commercial and industrial   $ 155,838   $ 3,585   $ 1,439     $ 160,862
Real estate                          
       Commercial:                          
              Mortgage     123,315     6,569     4,959 3     134,843
              Construction     7,025     -     -       7,025
       Church, church-related:                          
              Mortgage     366,366     1,578     174       368,118
              Construction     16,450     -     -       16,450
Other     435     -     -       435
Total   $ 669,429   $ 11,732   $ 6,572     $ 687,733

1      Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk, who have the apparent ability to satisfy their loan obligations.     
2 Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.
3 In February 2013, a payment of $4,115,000 was received for one nonaccrual loan with a balance of $4,198,000. $83,000 was charged off.
Schedule of Recorded Investment and Unpaid Principal Balance for Impaired Loans

The following table presents the recorded investment and unpaid principal balance for impaired loans at September 30, 2013 and December 31, 2012:

            Unpaid   Related
    Recorded   Principal   Allowance for
(In thousands)       Investment       Balance       Loan Losses
September 30, 2013                      
Commercial and industrial:                      
              Nonaccrual   $        71     $        71     $                 14
              Troubled debt restructurings still accruing     -       -       -
Real estate                      
       Commercial - Mortgage:                      
              Nonaccrual     482       482       89
              Past due 90 days or more and still accruing     -       -       -
              Troubled debt restructurings still accruing     -       -       -
       Church - Mortgage:                      
              Nonaccrual     1,355       1,355       234
Total impaired loans   $ 1,908     $ 1,908     $ 337
December 31, 2012                      
Commercial and industrial:                      
              Nonaccrual   $ 1,439     $ 1,439     $ 657
              Troubled debt restructurings still accruing     -       -       -
Real estate                      
       Commercial - Mortgage:                      
              Nonaccrual     4,959 *     4,959 *     660
              Past due 90 days or more and still accruing     -       -       -
              Troubled debt restructurings still accruing     -       -       -
       Church - Mortgage:                      
              Nonaccrual     174       174       87
Total impaired loans   $ 6,572     $ 6,572     $ 1,404

*      In February 2013, a payment of $4,115,000 was received for one nonaccrual loan with a balance of $4,198,000. $83,000 was charged off.
Summary of the Allowance for Loan Losses

A summary of the activity in the allowance for loan losses from December 31, 2012 to September 30, 2013 is as follows:

    December 31,   Charge-                 September 30,
(In thousands)       2012       Offs       Recoveries       Provision       2013
Commercial and industrial   $               3,192   $      1,296   $              24   $         892     $               2,812
Real estate                                
       Commercial:                                
              Mortgage     3,784     233     33     (173 )     3,411
              Construction     137     -     -     79       216
       Church, church-related:                                
              Mortgage     4,903     -     278     (51 )     5,130
              Construction     333     -     -     (252 )     81
Other     8     -     -     5       13
Total   $ 12,357   $ 1,529   $ 335   $ 500     $ 11,663