Loans by Type (Tables)

6 Months Ended

Jun. 30, 2014

Loans by Type [Abstract]

Summary of Loan Categories

A summary of loan categories is as follows:

	June 30,		December 31,
(In thousands)	2014		2013
Commercial and industrial	$	202,255	$	171,304
Real estate
Commercial:
Mortgage		120,536		128,358
Construction		6,712		6,632
Church, church-related:
Mortgage		313,793		326,832
Construction		14,061		9,817
Industrial Revenue Bond		8,266		9,167
Other		80		67
Total loans	$	665,703	$	652,177

Schedule of the Aging Loans by Loan Categories

The following table presents the aging of loans by loan categories at June 30, 2014 and December 31, 2013:

	Performing						Nonperforming
							90 Days
			30-59		60-89		and		Non-		Total
(In thousands)	Current		Days		Days		Over		accrual		Loans
June 30, 2014
Commercial and industrial	$	202,255	$	-	$	-	$	-	$	-	$	202,255
Real estate
Commercial:
Mortgage		120,168		-		-		-		368		120,536
Construction		6,712		-		-		-		-		6,712
Church, church-related:
Mortgage		312,642		-		-		-		1,151		313,793
Construction		14,061		-		-		-		-		14,061
Industrial Revenue Bond		8,266		-		-		-		-		8,266
Other		80		-		-		-		-		80
Total	$	664,184	$	-	$	-	$	-	$	1,519	$	665,703
December 31, 2013
Commercial and industrial	$	171,293	$	-	$	-	$	-	$	11	$	171,304
Real estate
Commercial:
Mortgage		127,879		-		-		-		479		128,358
Construction		6,632		-		-		-		-		6,632
Church, church-related:
Mortgage		325,091		434		-		-		1,307		326,832
Construction		9,817		-		-		-		-		9,817
Industrial Revenue Bond		9,167		-		-		-		-		9,167
Other		67		-		-		-		-		67
Total	$	649,946	$	434	$	-	$	-	$	1,797	$	652,177

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 June 30, 2014 and December 31, 2013:

	Loans		Performing		Nonperforming
	Subject to		Loans Subject to		Loans Subject
	Normal		Special		to Special
(In thousands)	Monitoring1		Monitoring 2		Monitoring 2		Total Loans
June 30, 2014
Commercial and industrial	$	198,643	$	3,612	$	-	$	202,255
Real estate
Commercial:
Mortgage		103,658		16,510		368		120,536
Construction		6,712		-		-		6,712
Church, church-related:
Mortgage		312,126		516		1,151		313,793
Construction		14,061		-		-		14,061
Industrial Revenue Bond		8,266		-		-		8,266
Other		80		-		-		80
Total	$	643,546	$	20,638	$	1,519	$	665,703
December 31, 2013
Commercial and industrial	$	167,878	$	3,415	$	11	$	171,304
Real estate
Commercial:
Mortgage		119,521		8,358		479		128,358
Construction		6,632		-		-		6,632
Church, church-related:
Mortgage		323,291		2,234		1,307		326,832
Construction		9,817		-		-		9,817
Industrial Revenue Bond		9,167		-		-		9,167
Other		67		-		-		67
Total	$	636,373	$	14,007	$	1,797	$	652,177

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.

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 June 30, 2014 and December 31, 2013:

			Unpaid		Related
	Recorded		Principal		Allowance for
(In thousands)	Investment		Balance		Loan Losses
June 30, 2014
Commercial and industrial:
Nonaccrual	$	-	$	-	$	-
Real estate
Commercial - Mortgage:
Nonaccrual		368		368		-
Church - Mortgage:
Nonaccrual		1,151		1,151		171
Total impaired loans	$	1,519	$	1,519	$	171
December 31, 2013
Commercial and industrial:
Nonaccrual	$	11	$	11	$	6
Real estate
Commercial - Mortgage:
Nonaccrual		479		479		89
Church - Mortgage:
Nonaccrual		1,307		1,307		223
Total impaired loans	$	1,797	$	1,797	$	318

Summary of the Allowance for Loan Losses

A summary of the activity in the allowance for loan losses from December 31, 2013 to June 30, 2014 is as follows:

	December 31,		Charge-							June 30,
(In thousands)	2013		Offs		Recoveries		Provision			2014
Commercial and industrial	$	3,036	$	3	$	30	$	18		$	3,081
Real estate
Commercial:
Mortgage		3,946		-		221		335			4,502
Construction		151		-		-		(8	)		143
Church, church-related:
Mortgage		4,354		76		2		(384	)		3,896
Construction		124		-		-		49			173
Industrial Revenue Bond		68		-		-		(11	)		57
Other		-		-		-		1			1
Total	$	11,679	$	79	$	253	$	0		$	11,853