Loans by Type (Tables)
|
9 Months Ended |
Sep. 30, 2016 |
|---|
| Receivables [Abstract] |
|
| Summary of Loan Categories |
A summary of loan
categories is as follows:
|
|
September 30, |
|
December 31, |
| (In
thousands) |
|
2016 |
|
2015 |
| Commercial and industrial |
|
$
|
213,060 |
|
$ |
193,430 |
| Real
estate |
|
|
|
|
|
|
| Commercial: |
|
|
|
|
|
|
|
Mortgage |
|
|
102,569 |
|
|
108,836 |
|
Construction |
|
|
13,704 |
|
|
1,182 |
| Church,
church-related: |
|
|
|
|
|
|
|
Mortgage |
|
|
322,800 |
|
|
306,728 |
|
Construction |
|
|
15,094 |
|
|
28,957 |
| Industrial Revenue Bonds |
|
|
17,390 |
|
|
19,831 |
| Other |
|
|
257 |
|
|
91 |
| Total loans |
|
$ |
684,874 |
|
$ |
659,055 |
|
| Schedule of the Aging Loans by Loan Categories |
The following table
presents the aging of loans by loan categories at September 30, 2016 and
December 31, 2015:
|
|
Performing |
|
Nonperforming |
|
|
|
|
|
|
|
|
|
|
|
90 Days |
|
|
|
|
|
|
|
|
|
|
|
30-59 |
|
60-89 |
|
and |
|
Non- |
|
Total |
| (In
thousands) |
|
Current |
|
Days |
|
Days |
|
Over |
|
accrual |
|
Loans |
| September 30,
2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial and industrial |
|
$ |
213,060 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
213,060 |
| Real
estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage |
|
|
102,309 |
|
|
— |
|
|
— |
|
|
— |
|
|
260 |
|
|
102,569 |
|
Construction |
|
|
13,704 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
13,704 |
| Church,
church-related: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage |
|
|
321,631 |
|
|
105 |
|
|
— |
|
|
984 |
|
|
80 |
|
|
322,800 |
|
Construction |
|
|
15,094 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
15,094 |
| Industrial Revenue Bonds |
|
|
17,390 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
17,390 |
| Other |
|
|
257 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
257 |
| Total |
|
$ |
683,445 |
|
$ |
105 |
|
$ |
— |
|
$ |
984 |
|
$ |
340 |
|
$ |
684,874 |
| December 31,
2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial and industrial |
|
$ |
193,430 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
193,430 |
| Real
estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage |
|
|
105,804 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,032 |
|
|
108,836 |
|
Construction |
|
|
1,182 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
1,182 |
| Church,
church-related: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage |
|
|
306,625 |
|
|
— |
|
|
— |
|
|
— |
|
|
103 |
|
|
306,728 |
|
Construction |
|
|
28,957 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
28,957 |
| Industrial
Revenue Bonds |
|
|
19,831 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
19,831 |
| Other |
|
|
91 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
91 |
| Total |
|
$ |
655,920 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
3,135 |
|
$ |
659,055 |
|
| Schedule of Credit Exposure of the Loan Portfolio |
The following table
presents the credit exposure of the loan portfolio as of September 30, 2016 and
December 31, 2015:
|
|
Loans |
|
Performing |
|
Nonperforming |
|
|
|
|
|
Subject to |
|
Loans Subject
to |
|
Loans Subject |
|
|
|
|
|
Normal |
|
Special |
|
to Special |
|
|
|
| (In
thousands) |
|
Monitoring1 |
|
Monitoring2 |
|
Monitoring2 |
|
Total Loans |
| September 30,
2016 |
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial and industrial |
|
$ |
210,824 |
|
$
|
2,236 |
|
$
|
— |
|
$ |
213,060 |
| Real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage |
|
|
101,238 |
|
|
1,071 |
|
|
260 |
|
|
102,569 |
|
Construction |
|
|
13,704 |
|
|
— |
|
|
— |
|
|
13,704 |
|
Church, church-related: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage |
|
|
315,516 |
|
|
7,204 |
|
|
80 |
|
|
322,800 |
|
Construction |
|
|
15,094 |
|
|
— |
|
|
— |
|
|
15,094 |
| Industrial Revenue Bonds |
|
|
17,390 |
|
|
— |
|
|
— |
|
|
17,390 |
| Other |
|
|
257 |
|
|
— |
|
|
— |
|
|
257 |
| Total |
|
$ |
674,023 |
|
$ |
10,511 |
|
$ |
340 |
|
$ |
684,874 |
| December 31,
2015 |
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial and industrial |
|
$ |
190,303 |
|
$ |
3,127 |
|
$ |
— |
|
$ |
193,430 |
| Real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage |
|
|
104,642 |
|
|
1,162 |
|
|
3,032 |
|
|
108,836 |
|
Construction |
|
|
1,182 |
|
|
— |
|
|
— |
|
|
1,182 |
|
Church, church-related: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage |
|
|
299,135 |
|
|
7,490 |
|
|
103 |
|
|
306,728 |
|
Construction |
|
|
28,957 |
|
|
— |
|
|
— |
|
|
28,957 |
| Industrial Revenue Bonds |
|
|
19,831 |
|
|
— |
|
|
— |
|
|
19,831 |
| Other |
|
|
91 |
|
|
— |
|
|
— |
|
|
91 |
| Total |
|
$ |
644,141 |
|
$ |
11,779 |
|
$ |
3,135 |
|
$ |
659,055 |
1Loans subject
to normal monitoring involve borrowers of acceptable-to-strong credit quality
and risk, who have the apparent ability to satisfy their loan obligations.
2Loans 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 September 30, 2016 and December 31, 2015:
|
|
|
|
Unpaid |
|
Related |
|
|
Recorded |
|
Principal |
|
Allowance for |
| (In
thousands) |
|
Investment |
|
Balance |
|
Loan Losses |
| September 30,
2016 |
|
|
|
|
|
|
|
|
|
| Commercial
and industrial: |
|
|
|
|
|
|
|
|
|
| Nonaccrual |
|
$ |
— |
|
$ |
— |
|
$
|
— |
| Real
estate |
|
|
|
|
|
|
|
|
|
| Commercial – Mortgage: |
|
|
|
|
|
|
|
|
|
|
Nonaccrual |
|
|
260 |
|
|
260 |
|
|
— |
| Church – Mortgage: |
|
|
|
|
|
|
|
|
|
|
Nonaccrual |
|
|
80 |
|
|
80 |
|
|
80 |
| Total impaired loans |
|
$ |
340 |
|
$ |
340 |
|
$ |
80 |
| December 31, 2015 |
|
|
|
|
|
|
|
|
|
| Commercial
and industrial: |
|
|
|
|
|
|
|
|
|
|
Nonaccrual |
|
$ |
— |
|
$ |
— |
|
$ |
— |
| Real
estate |
|
|
|
|
|
|
|
|
|
| Commercial – Mortgage: |
|
|
|
|
|
|
|
|
|
|
Nonaccrual |
|
|
3,032 |
|
|
3,032 |
|
|
1,039 |
| Church – Mortgage: |
|
|
|
|
|
|
|
|
|
|
Nonaccrual |
|
|
103 |
|
|
103 |
|
|
103 |
| Total impaired loans |
|
$ |
3,135 |
|
$ |
3,135 |
|
$ |
1,142 |
|
| Summary of the Allowance for Loan Losses |
A summary of the activity
in the allowance for loan losses from December 31, 2015 to September 30, 2016 is
as follows:
|
|
December 31, |
|
Charge- |
|
|
|
|
|
|
|
|
September 30, |
| (In
thousands) |
|
2015 |
|
Offs |
|
Recoveries |
|
Provision |
|
2016 |
| Commercial
and industrial |
|
$
|
3,083 |
|
$ |
— |
|
$
|
38 |
|
$ |
217 |
|
|
$
|
3,338 |
| Real
estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage |
|
|
2,803 |
|
|
— |
|
|
— |
|
|
(1,179 |
) |
|
|
1,624 |
|
Construction |
|
|
9 |
|
|
— |
|
|
— |
|
|
93 |
|
|
|
102 |
| Church,
church-related: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage |
|
|
4,082 |
|
|
— |
|
|
— |
|
|
48 |
|
|
|
4,130 |
|
Construction |
|
|
217 |
|
|
— |
|
|
— |
|
|
(102 |
) |
|
|
115 |
| Industrial
Revenue Bonds |
|
|
320 |
|
|
— |
|
|
— |
|
|
(47 |
) |
|
|
273 |
| Other |
|
|
1,121 |
|
|
— |
|
|
— |
|
|
(30 |
) |
|
|
1,091 |
| Total |
|
$ |
11,635 |
|
$ |
— |
|
$ |
38 |
|
$ |
(1,000 |
) |
|
$ |
10,673 |
A summary of the activity
in the allowance for loan losses from December 31, 2014 to September 30, 2015 is
as follows:
|
|
December 31, |
|
Charge- |
|
|
|
|
|
|
|
|
September 30, |
| (In
thousands) |
|
2014 |
|
Offs |
|
Recoveries |
|
Provision |
|
2015 |
| Commercial
and industrial |
|
$
|
3,515 |
|
$
|
30 |
|
$
|
10 |
|
$ |
(133 |
) |
|
$
|
3,362 |
| Real
estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage |
|
|
3,060 |
|
|
— |
|
|
5 |
|
|
(3 |
) |
|
|
3,062 |
|
Construction |
|
|
— |
|
|
— |
|
|
— |
|
|
1 |
|
|
|
1 |
| Church,
church-related: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage |
|
|
4,016 |
|
|
— |
|
|
2 |
|
|
127 |
|
|
|
4,145 |
|
Construction |
|
|
140 |
|
|
— |
|
|
— |
|
|
10 |
|
|
|
150 |
| Industrial
Revenue Bonds |
|
|
394 |
|
|
— |
|
|
— |
|
|
(50 |
) |
|
|
344 |
| Other |
|
|
769 |
|
|
— |
|
|
1 |
|
|
48 |
|
|
|
818 |
| Total |
|
$ |
11,894 |
|
$ |
30 |
|
$ |
18 |
|
$ |
0 |
|
|
$ |
11,882 |
|