| 3. Loans Held for Investment |
Loans outstanding at March
31, 2016 and December 31, 2015 are summarized as follows:
| |
|
2016 |
|
|
2015 |
|
| Construction/Land Development |
|
$ |
74,760 |
|
|
$ |
69,759 |
|
| Farmland |
|
|
13,068 |
|
|
|
13,378 |
|
| Real Estate |
|
|
168,889 |
|
|
|
166,587 |
|
| Multi-Family |
|
|
7,458 |
|
|
|
7,559 |
|
| Commercial Real Estate |
|
|
129,485 |
|
|
|
128,032 |
|
| Home Equity – closed end |
|
|
8,823 |
|
|
|
9,135 |
|
| Home Equity – open end |
|
|
57,783 |
|
|
|
56,599 |
|
| Commercial & Industrial – Non-Real Estate |
|
|
28,720 |
|
|
|
27,954 |
|
| Consumer |
|
|
8,023 |
|
|
|
8,219 |
|
| Dealer Finance |
|
|
57,306 |
|
|
|
54,086 |
|
| Credit Cards |
|
|
2,579 |
|
|
|
2,745 |
|
| Total |
|
$ |
556,894 |
|
|
$ |
544,053 |
|
The following is a summary of information pertaining
to impaired loans (in thousands):
| |
|
|
|
|
Unpaid |
|
|
|
|
|
Average |
|
|
Interest |
|
| For the three months, March 31, 2016 |
|
Recorded |
|
|
Principal |
|
|
Related |
|
|
Recorded |
|
|
Income |
|
| |
|
Investment |
|
|
Balance |
|
|
Allowance |
|
|
Investment |
|
|
Recognized |
|
| Impaired loans without a valuation allowance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Construction/Land Development |
|
$ |
1,237 |
|
|
$ |
1,237 |
|
|
$ |
- |
|
|
$ |
2,789 |
|
|
$ |
24 |
|
| Farmland |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Real Estate |
|
|
787 |
|
|
|
787 |
|
|
|
- |
|
|
|
863 |
|
|
|
11 |
|
| Multi-Family |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Commercial Real Estate |
|
|
405 |
|
|
|
405 |
|
|
|
- |
|
|
|
663 |
|
|
|
2 |
|
| Home Equity – closed end |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Home Equity – open end |
|
|
1,582 |
|
|
|
1,582 |
|
|
|
- |
|
|
|
1,499 |
|
|
|
35 |
|
| Commercial & Industrial – Non-Real Estate |
|
|
178 |
|
|
|
178 |
|
|
|
- |
|
|
|
183 |
|
|
|
3 |
|
| Consumer |
|
|
17 |
|
|
|
17 |
|
|
|
- |
|
|
|
11 |
|
|
|
- |
|
| Credit cards |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Dealer Finance |
|
|
7 |
|
|
|
7 |
|
|
|
- |
|
|
|
3 |
|
|
|
1 |
|
| |
|
|
4,213 |
|
|
|
4,213 |
|
|
|
|
|
|
|
6,011 |
|
|
|
76 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Impaired loans with a valuation allowance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Construction/Land Development |
|
|
10,651 |
|
|
|
10,651 |
|
|
|
2,186 |
|
|
|
12,065 |
|
|
|
53 |
|
| Farmland |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Real Estate |
|
|
1,224 |
|
|
|
1,224 |
|
|
|
234 |
|
|
|
758 |
|
|
|
16 |
|
| Multi-Family |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Commercial Real Estate |
|
|
968 |
|
|
|
968 |
|
|
|
74 |
|
|
|
906 |
|
|
|
14 |
|
| Home Equity – closed end |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Home Equity – open end |
|
|
1,408 |
|
|
|
1,408 |
|
|
|
587 |
|
|
|
894 |
|
|
|
10 |
|
| Commercial & Industrial – Non-Real Estate |
|
|
27 |
|
|
|
27 |
|
|
|
27 |
|
|
|
5 |
|
|
|
- |
|
| Consumer |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Credit cards |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Dealer Finance |
|
|
78 |
|
|
|
78 |
|
|
|
22 |
|
|
|
54 |
|
|
|
2 |
|
| |
|
|
14,356 |
|
|
|
14,356 |
|
|
|
3,130 |
|
|
|
14,682 |
|
|
|
95 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total impaired loans |
|
$ |
18,569 |
|
|
$ |
18,569 |
|
|
$ |
3,130 |
|
|
$ |
20,693 |
|
|
$ |
171 |
|
The Recorded Investment is
defined as the principal balance less principal payments and charge-offs.
| |
|
|
|
|
Unpaid |
|
|
|
|
|
Average |
|
|
Interest |
|
| For the year ended, December 31, 2015 |
|
Recorded |
|
|
Principal |
|
|
Related |
|
|
Recorded |
|
|
Income |
|
| |
|
Investment |
|
|
Balance |
|
|
Allowance |
|
|
Investment |
|
|
Recognized |
|
| Impaired loans without a valuation allowance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Construction/Land Development |
|
$ |
1,361 |
|
|
$ |
1,499 |
|
|
$ |
- |
|
|
$ |
3,622 |
|
|
$ |
73 |
|
| Farmland |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Real Estate |
|
|
1,097 |
|
|
|
1,097 |
|
|
|
- |
|
|
|
734 |
|
|
|
58 |
|
| Multi-Family |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Commercial Real Estate |
|
|
307 |
|
|
|
307 |
|
|
|
- |
|
|
|
874 |
|
|
|
17 |
|
| Home Equity – closed end |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Home Equity – open end |
|
|
1,159 |
|
|
|
1,159 |
|
|
|
- |
|
|
|
1,513 |
|
|
|
82 |
|
| Commercial & Industrial – Non-Real Estate |
|
|
181 |
|
|
|
181 |
|
|
|
- |
|
|
|
186 |
|
|
|
10 |
|
| Consumer |
|
|
18 |
|
|
|
18 |
|
|
|
- |
|
|
|
7 |
|
|
|
- |
|
| Credit cards |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Dealer Finance |
|
|
4 |
|
|
|
4 |
|
|
|
- |
|
|
|
1 |
|
|
|
4 |
|
| |
|
|
4,127 |
|
|
|
4,265 |
|
|
|
|
|
|
|
6,937 |
|
|
|
244 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Impaired loans with a valuation allowance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Construction/Land Development |
|
|
11,534 |
|
|
|
11,534 |
|
|
|
2,373 |
|
|
|
12,884 |
|
|
|
299 |
|
| Farmland |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Real Estate |
|
|
324 |
|
|
|
324 |
|
|
|
238 |
|
|
|
699 |
|
|
|
46 |
|
| Multi-Family |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Commercial Real Estate |
|
|
890 |
|
|
|
890 |
|
|
|
18 |
|
|
|
900 |
|
|
|
15 |
|
| Home Equity – closed end |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Home Equity – open end |
|
|
1,414 |
|
|
|
1,414 |
|
|
|
269 |
|
|
|
613 |
|
|
|
75 |
|
| Commercial & Industrial – Non-Real Estate |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Consumer |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Credit cards |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Dealer Finance |
|
|
68 |
|
|
|
68 |
|
|
|
17 |
|
|
|
38 |
|
|
|
5 |
|
| |
|
|
14,230 |
|
|
|
14,230 |
|
|
|
2,915 |
|
|
|
15,134 |
|
|
|
440 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total impaired loans |
|
$ |
18,357 |
|
|
$ |
18,495 |
|
|
$ |
2,915 |
|
|
$ |
22,071 |
|
|
$ |
684 |
|
|