3. Loans Held for Investment (Tables)

3 Months Ended

Mar. 31, 2016

Loans Held For Investment Tables

Schedule of Loans Outstanding

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

Schedule Impaired Loans

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

Recorded Investment

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