Concentrations of Credit Risk

12 Months Ended

Dec. 31, 2011

Concentrations of Credit Risk [Abstract]

Concentrations of Credit Risk

Note 23 – Concentrations of Credit Risk

Substantially all the Company's loans are made within its market area, which includes Southern and Central Virginia and the northern portion of Central North Carolina.  The ultimate collectability of the Company's loan portfolio and the ability to realize the value of any underlying collateral, if necessary, are impacted by the economic conditions of the market area. 

Loans secured by real estate were $682,401,000, or 82.7% of the loan portfolio at December 31, 2011, and $428,023,000, or 82.2% of the loan portfolio at December 31, 2010.  Loans secured by commercial real estate represented the largest portion of loans at $351,961,000 at December 31, 2011, and $210,393,000 at December 31, 2010, 42.7% and 40.4%, respectively of total loans.  While there were no concentrations of loans to any individual, group of individuals, business, or industry that exceeded 10.0% of total loans at December 31, 2011 or 2010, loans to lessors of nonresidential buildings represented 13.8% of total loans at December 31, 2011 and 13.4% at December 31, 2010; the lessees and lessors are engaged in a variety of industries.