| Loans |
NOTE C - LOANS:
The composition of the loan portfolio at
December 31, 2014, 2013 and 2012 is as follows (in
thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, |
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
|
|
|
|
Gaming
|
|
$ |
31,353 |
|
|
$ |
29,570 |
|
|
$ |
60,187 |
|
|
|
|
|
|
Residential and land development
|
|
|
10,119 |
|
|
|
19,403 |
|
|
|
27,338 |
|
|
|
|
|
|
Real estate, construction
|
|
|
34,010 |
|
|
|
44,987 |
|
|
|
52,586 |
|
|
|
|
|
|
Real estate, mortgage
|
|
|
240,341 |
|
|
|
237,158 |
|
|
|
246,420 |
|
|
|
|
|
|
Commercial and industrial
|
|
|
31,906 |
|
|
|
35,007 |
|
|
|
35,004 |
|
|
|
|
|
|
Other
|
|
|
14,678 |
|
|
|
9,224 |
|
|
|
9,548 |
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
362,407 |
|
|
$ |
375,349 |
|
|
$ |
431,083 |
|
|
|
|
|
|
In the ordinary course of business, the
Company’s bank subsidiary extends loans to certain officers
and directors and their personal business interests at, in the
opinion of Management, the same terms, including interest rates and
collateral, as those prevailing at the time for comparable loans of
similar credit risk with persons not related to the Company or its
subsidiaries. These loans do not involve more than normal risk of
collectibility and do not include other unfavorable features. An
analysis of the activity with respect to such loans to related
parties is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
| Years Ended
December 31, |
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
|
|
|
|
|
Balance, January 1
|
|
$ |
6,761 |
|
|
$ |
6,310 |
|
|
$ |
5,681 |
|
|
New loans and advances
|
|
|
2,516 |
|
|
|
1,647 |
|
|
|
3,755 |
|
|
Repayments
|
|
|
(1,517) |
|
|
|
(1,196) |
|
|
|
(3,126) |
|
|
|
|
|
|
|
|
|
|
|
Balance, December 31
|
|
$ |
7,760 |
|
|
$ |
6,761 |
|
|
$ |
6,310 |
|
|
|
|
|
|
As part of its evaluation of the quality of the
loan portfolio, Management monitors the Company’s credit
concentrations on a monthly basis. Total outstanding concentrations
were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, |
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
|
|
|
|
Gaming
|
|
$ |
31,353 |
|
|
$ |
29,570 |
|
|
$ |
60,187 |
|
|
Hotel/motel
|
|
|
47,144 |
|
|
|
49,842 |
|
|
|
52,776 |
|
|
Out of area
|
|
|
19,179 |
|
|
|
24,945 |
|
|
|
25,413 |
|
The age analysis of the loan portfolio, segregated
by class of loans, as of December 31, 2014, 2013 and 2012 is
as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans Past
Due Greater
Than 90
Days and
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Number of Days Past
Due |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
Greater |
|
|
Total |
|
|
|
|
|
Total |
|
|
| |
|
30 - 59 |
|
|
60 - 89 |
|
|
Than 90 |
|
|
Past Due |
|
|
Current |
|
|
Loans |
|
|
Still Accruing |
|
|
|
|
|
|
|
December 31, 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
31,353 |
|
|
$ |
31,353 |
|
|
$ |
|
|
|
Residential and land development
|
|
|
|
|
|
|
|
|
|
|
5,262 |
|
|
|
5,262 |
|
|
|
4,857 |
|
|
|
10,119 |
|
|
|
|
|
|
Real estate, construction
|
|
|
1,665 |
|
|
|
85 |
|
|
|
1,944 |
|
|
|
3,694 |
|
|
|
30,316 |
|
|
|
34,010 |
|
|
|
30 |
|
|
Real estate, mortgage
|
|
|
3,502 |
|
|
|
3,101 |
|
|
|
12,007 |
|
|
|
18,610 |
|
|
|
221,731 |
|
|
|
240,341 |
|
|
|
733 |
|
|
Commercial and industrial
|
|
|
909 |
|
|
|
7 |
|
|
|
205 |
|
|
|
1,121 |
|
|
|
30,785 |
|
|
|
31,906 |
|
|
|
|
|
|
Other
|
|
|
168 |
|
|
|
10 |
|
|
|
|
|
|
|
178 |
|
|
|
14,500 |
|
|
|
14,678 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
6,244 |
|
|
$ |
3,203 |
|
|
$ |
19,418 |
|
|
$ |
28,865 |
|
|
$ |
333,542 |
|
|
$ |
362,407 |
|
|
$ |
763 |
|
|
|
|
|
|
|
December 31, 2013:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
29,570 |
|
|
$ |
29,570 |
|
|
$ |
|
|
|
Residential and land development
|
|
|
51 |
|
|
|
|
|
|
|
13,572 |
|
|
|
13,623 |
|
|
|
5,780 |
|
|
|
19,403 |
|
|
|
|
|
|
Real estate, construction
|
|
|
3,846 |
|
|
|
|
|
|
|
9,452 |
|
|
|
13,298 |
|
|
|
31,689 |
|
|
|
44,987 |
|
|
|
146 |
|
|
Real estate, mortgage
|
|
|
6,910 |
|
|
|
2,684 |
|
|
|
5,134 |
|
|
|
14,728 |
|
|
|
222,430 |
|
|
|
237,158 |
|
|
|
505 |
|
|
Commercial and industrial
|
|
|
1,192 |
|
|
|
|
|
|
|
|
|
|
|
1,192 |
|
|
|
33,815 |
|
|
|
35,007 |
|
|
|
|
|
|
Other
|
|
|
227 |
|
|
|
5 |
|
|
|
|
|
|
|
232 |
|
|
|
8,992 |
|
|
|
9,224 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
12,226 |
|
|
$ |
2,689 |
|
|
$ |
28,158 |
|
|
$ |
43,073 |
|
|
$ |
332,276 |
|
|
$ |
375,349 |
|
|
$ |
651 |
|
|
|
|
|
|
|
December 31, 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
$ |
|
|
|
$ |
1,721 |
|
|
$ |
|
|
|
$ |
1,721 |
|
|
$ |
58,466 |
|
|
$ |
60,187 |
|
|
$ |
|
|
|
Residential and land development
|
|
|
|
|
|
|
|
|
|
|
5,765 |
|
|
|
5,765 |
|
|
|
21,573 |
|
|
|
27,338 |
|
|
|
|
|
|
Real estate, construction
|
|
|
3,989 |
|
|
|
878 |
|
|
|
6,151 |
|
|
|
11,018 |
|
|
|
41,568 |
|
|
|
52,586 |
|
|
|
572 |
|
|
Real estate, mortgage
|
|
|
12,012 |
|
|
|
2,702 |
|
|
|
7,605 |
|
|
|
22,319 |
|
|
|
224,101 |
|
|
|
246,420 |
|
|
|
872 |
|
|
Commercial and industrial
|
|
|
1,804 |
|
|
|
79 |
|
|
|
107 |
|
|
|
1,990 |
|
|
|
33,014 |
|
|
|
35,004 |
|
|
|
|
|
|
Other
|
|
|
127 |
|
|
|
26 |
|
|
|
1 |
|
|
|
154 |
|
|
|
9,394 |
|
|
|
9,548 |
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
17,932 |
|
|
$ |
5,406 |
|
|
$ |
19,629 |
|
|
$ |
42,967 |
|
|
$ |
388,116 |
|
|
$ |
431,083 |
|
|
$ |
1,445 |
|
|
|
|
|
|
The Company monitors the credit quality of its loan
portfolio through the use of a loan grading system. A score of 1
– 5 is assigned to the loan based on factors including
repayment ability, trends in net worth and/or financial condition
of the borrower and guarantors, employment stability, management
ability, loan to value fluctuations, the type and structure of the
loan, conformity of the loan to bank policy and payment
performance. Based on the total score, a loan grade of A—F is
applied. A grade of A will generally be applied to loans for
customers that are well known to the Company and that have
excellent sources of repayment. A grade of B will generally be
applied to loans for customers that have excellent sources of
repayment which have no identifiable risk of collection. A grade of
C will generally be applied to loans for customers that have
adequate sources of repayment which have little identifiable risk
of collection. Loans with a grade of C may be placed on the watch
list if weaknesses are not resolved which could result in potential
loss or for other circumstances that require monitoring. A grade of
D will generally be applied to loans for customers that are
inadequately protected by current sound net worth, paying capacity
of the borrower, or pledged collateral. Loans with a grade of D
have unsatisfactory characteristics such as cash flow deficiencies,
bankruptcy filing by the borrower or dependence on the sale of
collateral for the primary source of repayment, causing more than
acceptable levels of risk. Loans 60 to 89 days past due receive a
grade of D. A grade of E will generally be applied to loans for
customers with weaknesses inherent in the D classification and in
which collection or liquidation in full is questionable. In
addition, on a monthly basis the Company determines which loans are
90 days or more past due and assigns a grade of E to them. A grade
of F is applied to loans which are considered uncollectible and of
such little value that their continuance in an active bank is not
warranted. Loans with this grade are charged off, even though
partial or full recovery may be possible in the future.
An analysis of the loan portfolio by loan grade,
segregated by class of loans, as of December 31, 2014, 2013
and 2012 is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Loans With A Grade
Of: |
|
|
|
|
|
|
|
|
|
|
| |
|
A or B |
|
|
C |
|
|
D |
|
|
E |
|
|
F |
|
|
Total |
|
|
|
|
|
|
|
December 31, 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
$ |
8,400 |
|
|
$ |
22,953 |
|
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
31,353 |
|
|
|
|
|
|
|
|
|
Residential and land development
|
|
|
3,520 |
|
|
|
1,319 |
|
|
|
17 |
|
|
|
5,263 |
|
|
|
|
|
|
|
10,119 |
|
|
|
|
|
|
|
|
|
Real estate, construction
|
|
|
27,474 |
|
|
|
723 |
|
|
|
2,496 |
|
|
|
3,317 |
|
|
|
|
|
|
|
34,010 |
|
|
|
|
|
|
|
|
|
Real estate, mortgage
|
|
|
197,086 |
|
|
|
4,051 |
|
|
|
16,591 |
|
|
|
22,613 |
|
|
|
|
|
|
|
240,341 |
|
|
|
|
|
|
|
|
|
Commercial and industrial
|
|
|
26,877 |
|
|
|
25 |
|
|
|
1,579 |
|
|
|
3,425 |
|
|
|
|
|
|
|
31,906 |
|
|
|
|
|
|
|
|
|
Other
|
|
|
14,583 |
|
|
|
6 |
|
|
|
89 |
|
|
|
|
|
|
|
|
|
|
|
14,678 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
277,940 |
|
|
$ |
29,077 |
|
|
$ |
20,772 |
|
|
$ |
34,618 |
|
|
$ |
|
|
|
$ |
362,407 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2013:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
$ |
23,975 |
|
|
$ |
2,500 |
|
|
$ |
|
|
|
$ |
3,095 |
|
|
$ |
|
|
|
$ |
29,570 |
|
|
|
|
|
|
|
|
|
Residential and land development
|
|
|
4,236 |
|
|
|
1,544 |
|
|
|
51 |
|
|
|
13,572 |
|
|
|
|
|
|
|
19,403 |
|
|
|
|
|
|
|
|
|
Real estate, construction
|
|
|
38,808 |
|
|
|
781 |
|
|
|
2,220 |
|
|
|
3,178 |
|
|
|
|
|
|
|
44,987 |
|
|
|
|
|
|
|
|
|
Real estate, mortgage
|
|
|
204,569 |
|
|
|
4,495 |
|
|
|
17,852 |
|
|
|
10,242 |
|
|
|
|
|
|
|
237,158 |
|
|
|
|
|
|
|
|
|
Commercial and industrial
|
|
|
31,902 |
|
|
|
682 |
|
|
|
2,402 |
|
|
|
21 |
|
|
|
|
|
|
|
35,007 |
|
|
|
|
|
|
|
|
|
Other
|
|
|
9,131 |
|
|
|
24 |
|
|
|
50 |
|
|
|
19 |
|
|
|
|
|
|
|
9,224 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
312,621 |
|
|
$ |
10,026 |
|
|
$ |
22,575 |
|
|
$ |
30,127 |
|
|
$ |
|
|
|
$ |
375,349 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
$ |
27,530 |
|
|
$ |
12,300 |
|
|
$ |
4,108 |
|
|
$ |
16,249 |
|
|
$ |
|
|
|
$ |
60,187 |
|
|
|
|
|
|
|
|
|
Residential and land development
|
|
|
4,630 |
|
|
|
1,544 |
|
|
|
81 |
|
|
|
21,083 |
|
|
|
|
|
|
|
27,338 |
|
|
|
|
|
|
|
|
|
Real estate, construction
|
|
|
43,318 |
|
|
|
1,001 |
|
|
|
2,701 |
|
|
|
5,566 |
|
|
|
|
|
|
|
52,586 |
|
|
|
|
|
|
|
|
|
Real estate, mortgage
|
|
|
209,479 |
|
|
|
3,093 |
|
|
|
21,167 |
|
|
|
12,681 |
|
|
|
|
|
|
|
246,420 |
|
|
|
|
|
|
|
|
|
Commercial and industrial
|
|
|
32,036 |
|
|
|
442 |
|
|
|
2,312 |
|
|
|
214 |
|
|
|
|
|
|
|
35,004 |
|
|
|
|
|
|
|
|
|
Other
|
|
|
9,449 |
|
|
|
27 |
|
|
|
72 |
|
|
|
|
|
|
|
|
|
|
|
9,548 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
326,442 |
|
|
$ |
18,407 |
|
|
$ |
30,441 |
|
|
$ |
55,793 |
|
|
$ |
|
|
|
$ |
431,083 |
|
|
|
|
|
|
A loan may be impaired but not on nonaccrual status
when the loan is well secured and in the process of collection.
Total loans on nonaccrual as of December 31, 2014, 2013 and
2012 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, |
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
$ |
|
|
|
$ |
1,223 |
|
|
$ |
16,249 |
|
|
|
|
|
|
Residential and land development
|
|
|
8,233 |
|
|
|
13,572 |
|
|
|
21,083 |
|
|
|
|
|
|
Real estate, construction
|
|
|
3,287 |
|
|
|
2,588 |
|
|
|
5,171 |
|
|
|
|
|
|
Real estate, mortgage
|
|
|
21,398 |
|
|
|
8,788 |
|
|
|
11,174 |
|
|
|
|
|
|
Commercial and industrial
|
|
|
380 |
|
|
|
|
|
|
|
214 |
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
33,298 |
|
|
$ |
26,171 |
|
|
$ |
53,891 |
|
|
|
|
|
|
The Company has modified certain loans by granting
interest rate concessions to these customers. These loans are in
compliance with their modified terms, are currently accruing and
the Company has classified them as troubled debt restructurings.
Troubled debt restructurings as of December 31, 2014, 2013 and
2012, were as follows (in thousands except for number of
contracts):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Number of
Contracts |
|
|
Pre-Modification
Outstanding
Recorded
Investment |
|
|
Post-Modification
Outstanding
Recorded
Investment |
|
|
Related
Allowance |
|
|
|
|
|
|
|
December 31, 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate, mortgage
|
|
|
2 |
|
|
$ |
837 |
|
|
$ |
837 |
|
|
$ |
50 |
|
|
|
|
|
|
|
Total
|
|
|
2 |
|
|
$ |
837 |
|
|
$ |
837 |
|
|
$ |
50 |
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2013:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate, construction
|
|
|
2 |
|
|
$ |
891 |
|
|
$ |
891 |
|
|
$ |
270 |
|
|
Real estate, mortgage
|
|
|
6 |
|
|
|
10,012 |
|
|
|
10,012 |
|
|
|
994 |
|
|
Commercial and industrial
|
|
|
1 |
|
|
|
678 |
|
|
|
678 |
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
9 |
|
|
$ |
11,581 |
|
|
$ |
11,581 |
|
|
$ |
1,264 |
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate, construction
|
|
|
3 |
|
|
$ |
1,095 |
|
|
$ |
1,095 |
|
|
$ |
340 |
|
|
Real estate, mortgage
|
|
|
3 |
|
|
|
9,054 |
|
|
|
9,054 |
|
|
|
957 |
|
|
Commercial and industrial
|
|
|
1 |
|
|
|
702 |
|
|
|
702 |
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
7 |
|
|
$ |
10,851 |
|
|
$ |
10,851 |
|
|
$ |
1,297 |
|
|
|
|
|
|
During 2013, the Company classified four additional
loans as troubled debt restructurings. The loans are included in
the real estate, mortgage segment and had a total balance of
$1,652,903 when they were modified. During 2013, two loans which
had been classified as troubled debt restructurings at
December 31, 2012 became in default of their modified terms
and were placed on nonaccrual. These loans included one loan that
was included in the real estate, construction segment with a
balance of $182,164 and one loan that was included in the real
estate, mortgage segment with a balance of $527,677 as of
December 31, 2012. During 2014, seven loans which had been
classified as troubled debt restructurings at December 31,
2013 became in default of their modified terms and were placed on
nonaccrual. These loans included two loans that were included in
the real estate, construction segment with a total balance of
$891,782, four loans that were included in the real estate,
mortgage segment with a total balance of $9,136,954 and one loan
that was included in the commercial and industrial segment with a
balance of $677,901 as of December 31, 2013.
Impaired loans, which include loans classified as
nonaccrual and troubled debt restructurings, segregated by class of
loans, as of December 31, 2014, 2013 and 2012 were as follows
(in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Unpaid
Principal
Balance |
|
|
Recorded
Investment |
|
|
Related
Allowance |
|
|
Average
Recorded
Investment |
|
|
Interest
Income
Recognized |
|
|
|
|
|
|
|
December 31, 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With no related allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential and land development
|
|
$ |
9,513 |
|
|
$ |
8,233 |
|
|
$ |
|
|
|
$ |
8,380 |
|
|
$ |
|
|
|
Real estate, construction
|
|
|
2,198 |
|
|
|
2,178 |
|
|
|
|
|
|
|
2,222 |
|
|
|
|
|
|
Real estate, mortgage
|
|
|
19,517 |
|
|
|
16,243 |
|
|
|
|
|
|
|
18,258 |
|
|
|
26 |
|
|
Commercial and industrial
|
|
|
380 |
|
|
|
380 |
|
|
|
|
|
|
|
384 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
31,608 |
|
|
|
27,034 |
|
|
|
|
|
|
|
29,244 |
|
|
|
26 |
|
|
|
|
|
|
|
With a related allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate, construction
|
|
|
1,109 |
|
|
|
1,109 |
|
|
|
422 |
|
|
|
1,115 |
|
|
|
|
|
|
Real estate, mortgage
|
|
|
6,591 |
|
|
|
5,992 |
|
|
|
2,135 |
|
|
|
5,996 |
|
|
|
9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
7,700 |
|
|
|
7,101 |
|
|
|
2,557 |
|
|
|
7,111 |
|
|
|
9 |
|
|
|
|
|
|
|
Total by class of loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential and land development
|
|
|
9,513 |
|
|
|
8,233 |
|
|
|
|
|
|
|
8,380 |
|
|
|
|
|
|
Real estate, construction
|
|
|
3,307 |
|
|
|
3,287 |
|
|
|
422 |
|
|
|
3,337 |
|
|
|
|
|
|
Real estate, mortgage
|
|
|
26,108 |
|
|
|
22,235 |
|
|
|
2,135 |
|
|
|
24,254 |
|
|
|
35 |
|
|
Commercial and industrial
|
|
|
380 |
|
|
|
380 |
|
|
|
|
|
|
|
384 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
39,308 |
|
|
$ |
34,135 |
|
|
$ |
2,557 |
|
|
$ |
36,355 |
|
|
$ |
35 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Unpaid
Principal
Balance
|
|
|
Recorded
Investment |
|
|
Related
Allowance |
|
|
Average
Recorded
Investment |
|
|
Interest
Income
Recognized |
|
|
|
|
|
|
|
December 31, 2013:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With no related allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential and land development
|
|
$ |
4,425 |
|
|
$ |
4,425 |
|
|
$ |
|
|
|
$ |
4,465 |
|
|
$ |
|
|
|
Real estate, construction
|
|
|
2,294 |
|
|
|
2,294 |
|
|
|
|
|
|
|
2,054 |
|
|
|
26 |
|
|
Real estate, mortgage
|
|
|
9,722 |
|
|
|
9,123 |
|
|
|
|
|
|
|
9,097 |
|
|
|
26 |
|
|
Commercial and industrial
|
|
|
678 |
|
|
|
678 |
|
|
|
|
|
|
|
689 |
|
|
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
17,119 |
|
|
|
16,520 |
|
|
|
|
|
|
|
16,305 |
|
|
|
76 |
|
|
|
|
|
|
|
|
|
|
|
|
|
With a related allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
|
1,698 |
|
|
|
1,223 |
|
|
|
626 |
|
|
|
1,316 |
|
|
|
|
|
|
Residential and land development
|
|
|
17,576 |
|
|
|
9,147 |
|
|
|
471 |
|
|
|
15,909 |
|
|
|
|
|
|
Real estate, construction
|
|
|
1,185 |
|
|
|
1,185 |
|
|
|
337 |
|
|
|
1,239 |
|
|
|
23 |
|
|
Real estate, mortgage
|
|
|
9,677 |
|
|
|
9,677 |
|
|
|
1,110 |
|
|
|
8,801 |
|
|
|
306 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
30,136 |
|
|
|
21,232 |
|
|
|
2,544 |
|
|
|
27,265 |
|
|
|
329 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total by class of loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
|
1,698 |
|
|
|
1,223 |
|
|
|
626 |
|
|
|
1,316 |
|
|
|
|
|
|
Residential and land development
|
|
|
22,001 |
|
|
|
13,572 |
|
|
|
471 |
|
|
|
20,374 |
|
|
|
|
|
|
Real estate, construction
|
|
|
3,479 |
|
|
|
3,479 |
|
|
|
337 |
|
|
|
3,293 |
|
|
|
49 |
|
|
Real estate, mortgage
|
|
|
19,399 |
|
|
|
18,800 |
|
|
|
1,110 |
|
|
|
17,898 |
|
|
|
332 |
|
|
Commercial and industrial
|
|
|
678 |
|
|
|
678 |
|
|
|
|
|
|
|
689 |
|
|
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
47,255 |
|
|
$ |
37,752 |
|
|
$ |
2,544 |
|
|
$ |
43,570 |
|
|
$ |
405 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Unpaid
Principal
Balance |
|
|
Recorded
Investment |
|
|
Related
Allowance |
|
|
Average
Recorded
Investment |
|
|
Interest
Income
Recognized |
|
|
|
|
|
|
|
December 31, 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With no related allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
$ |
14,528 |
|
|
$ |
14,528 |
|
|
$ |
|
|
|
$ |
14,869 |
|
|
$ |
|
|
|
Residential and land development
|
|
|
21,837 |
|
|
|
20,733 |
|
|
|
|
|
|
|
21,288 |
|
|
|
|
|
|
Real estate, construction
|
|
|
4,635 |
|
|
|
4,580 |
|
|
|
|
|
|
|
3,833 |
|
|
|
|
|
|
Real estate, mortgage
|
|
|
9,971 |
|
|
|
9,935 |
|
|
|
|
|
|
|
9,821 |
|
|
|
|
|
|
Commercial and industrial
|
|
|
892 |
|
|
|
892 |
|
|
|
|
|
|
|
791 |
|
|
|
23 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
51,863 |
|
|
|
50,668 |
|
|
|
|
|
|
|
50,602 |
|
|
|
23 |
|
|
|
|
|
|
|
|
|
|
|
|
|
With a related allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
|
1,721 |
|
|
|
1,721 |
|
|
|
1,100 |
|
|
|
|
|
|
|
|
|
|
Residential and land development
|
|
|
350 |
|
|
|
350 |
|
|
|
70 |
|
|
|
350 |
|
|
|
|
|
|
Real estate, construction
|
|
|
1,694 |
|
|
|
1,686 |
|
|
|
663 |
|
|
|
1,314 |
|
|
|
8 |
|
|
Real estate, mortgage
|
|
|
10,893 |
|
|
|
10,293 |
|
|
|
1,229 |
|
|
|
10,199 |
|
|
|
319 |
|
|
Commercial and industrial
|
|
|
24 |
|
|
|
24 |
|
|
|
12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
14,682 |
|
|
|
14,074 |
|
|
|
3,074 |
|
|
|
11,863 |
|
|
|
327 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total by class of loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming
|
|
|
16,249 |
|
|
|
16,249 |
|
|
|
1,100 |
|
|
|
14,869 |
|
|
|
|
|
|
Residential and land development
|
|
|
22,187 |
|
|
|
21,083 |
|
|
|
70 |
|
|
|
21,638 |
|
|
|
|
|
|
Real estate, construction
|
|
|
6,329 |
|
|
|
6,266 |
|
|
|
663 |
|
|
|
5,147 |
|
|
|
8 |
|
|
Real estate, mortgage
|
|
|
20,864 |
|
|
|
20,228 |
|
|
|
1,229 |
|
|
|
20,020 |
|
|
|
319 |
|
|
Commercial and industrial
|
|
|
916 |
|
|
|
916 |
|
|
|
12 |
|
|
|
791 |
|
|
|
23 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
66,545 |
|
|
$ |
64,742 |
|
|
$ |
3,074 |
|
|
$ |
62,465 |
|
|
$ |
350 |
|
|
|
|
|
|
Transactions in the allowance for loan losses for
the years ended December 31, 2014, 2013 and 2012, and the
balances of loans, individually and collectively evaluated for
impairment, as of December 31, 2014, 2013 and 2012 are as
follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Gaming |
|
|
Residential
and Land
Development |
|
|
Real Estate,
Construction |
|
|
Real Estate,
Mortgage |
|
|
Commercial
and
Industrial |
|
|
Other |
|
|
Total |
|
|
|
|
|
|
|
December 31, 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for Loan Losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Balance
|
|
$ |
977 |
|
|
$ |
776 |
|
|
$ |
695 |
|
|
$ |
5,553 |
|
|
$ |
632 |
|
|
$ |
301 |
|
|
$ |
8,934 |
|
|
Charge-offs
|
|
|
(992 |
) |
|
|
(2,060 |
) |
|
|
(127 |
) |
|
|
(368 |
) |
|
|
(3,948 |
) |
|
|
(235 |
) |
|
|
(7,730 |
) |
|
Recoveries
|
|
|
260 |
|
|
|
|
|
|
|
35 |
|
|
|
193 |
|
|
|
20 |
|
|
|
90 |
|
|
|
598 |
|
|
Provision
|
|
|
328 |
|
|
|
1,535 |
|
|
|
257 |
|
|
|
1,231 |
|
|
|
3,883 |
|
|
|
170 |
|
|
|
7,404 |
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
573 |
|
|
$ |
251 |
|
|
$ |
860 |
|
|
$ |
6,609 |
|
|
$ |
587 |
|
|
$ |
326 |
|
|
$ |
9,206 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for Loan Losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance: individually evaluated for impairment
|
|
$ |
|
|
|
$ |
|
|
|
$ |
742 |
|
|
$ |
2,706 |
|
|
$ |
289 |
|
|
$ |
6 |
|
|
$ |
3,743 |
|
|
|
|
|
|
|
Ending balance: collectively evaluated for impairment
|
|
$ |
573 |
|
|
$ |
251 |
|
|
$ |
118 |
|
|
$ |
3,903 |
|
|
$ |
298 |
|
|
$ |
320 |
|
|
$ |
5,463 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance: individually
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance: Individually evaluated for impairment
|
|
$ |
|
|
|
$ |
7,232 |
|
|
$ |
6,830 |
|
|
$ |
39,204 |
|
|
$ |
2,035 |
|
|
$ |
89 |
|
|
$ |
55,390 |
|
|
|
|
|
|
|
Ending balance: collectively evaluated for impairment
|
|
$ |
31,353 |
|
|
$ |
2,887 |
|
|
$ |
27,180 |
|
|
$ |
201,137 |
|
|
$ |
29,871 |
|
|
$ |
14,589 |
|
|
$ |
307,017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2013:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for Loan Losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Balance
|
|
$ |
1,541 |
|
|
$ |
200 |
|
|
$ |
967 |
|
|
$ |
5,273 |
|
|
$ |
593 |
|
|
$ |
283 |
|
|
$ |
8,857 |
|
|
Charge-offs
|
|
|
(474 |
) |
|
|
(7,325 |
) |
|
|
(1,013 |
) |
|
|
(1,048 |
) |
|
|
(24 |
) |
|
|
(238 |
) |
|
|
(10,122 |
) |
|
Recoveries
|
|
|
110 |
|
|
|
67 |
|
|
|
97 |
|
|
|
150 |
|
|
|
26 |
|
|
|
88 |
|
|
|
538 |
|
|
Provision
|
|
|
(200 |
) |
|
|
7,834 |
|
|
|
644 |
|
|
|
1,178 |
|
|
|
37 |
|
|
|
168 |
|
|
|
9,661 |
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
977 |
|
|
$ |
776 |
|
|
$ |
695 |
|
|
$ |
5,553 |
|
|
$ |
632 |
|
|
$ |
301 |
|
|
$ |
8,934 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for Loan Losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance: individually evaluated for impairment
|
|
$ |
626 |
|
|
$ |
471 |
|
|
$ |
615 |
|
|
$ |
1,698 |
|
|
$ |
342 |
|
|
$ |
33 |
|
|
$ |
3,785 |
|
|
|
|
|
|
|
Ending balance: collectively evaluated for impairment
|
|
$ |
351 |
|
|
$ |
305 |
|
|
$ |
80 |
|
|
$ |
3,855 |
|
|
$ |
290 |
|
|
$ |
268 |
|
|
$ |
5,149 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance: individually evaluated for impairment
|
|
$ |
3,095 |
|
|
$ |
13,624 |
|
|
$ |
5,399 |
|
|
$ |
28,094 |
|
|
$ |
2,423 |
|
|
$ |
69 |
|
|
$ |
52,704 |
|
|
|
|
|
|
|
Ending balance: collectively evaluated for impairment
|
|
$ |
26,475 |
|
|
$ |
5,779 |
|
|
$ |
39,588 |
|
|
$ |
209,064 |
|
|
$ |
32,584 |
|
|
$ |
9,155 |
|
|
$ |
322,645 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Gaming |
|
|
Residential
and Land
Development |
|
|
Real Estate,
Construction |
|
|
Real Estate,
Mortgage |
|
|
Commercial
and
Industrial |
|
|
Other |
|
|
Total |
|
|
|
|
|
|
|
December 31, 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for Loan Losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Balance
|
|
$ |
457 |
|
|
$ |
1,081 |
|
|
$ |
937 |
|
|
$ |
4,800 |
|
|
$ |
557 |
|
|
$ |
304 |
|
|
$ |
8,136 |
|
|
Charge-offs
|
|
|
(275 |
) |
|
|
(1,103 |
) |
|
|
(474 |
) |
|
|
(1,348 |
) |
|
|
(203 |
) |
|
|
(273 |
) |
|
|
(3,676 |
) |
|
Recoveries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7 |
|
|
|
41 |
|
|
|
85 |
|
|
|
133 |
|
|
Provision
|
|
|
1,359 |
|
|
|
222 |
|
|
|
504 |
|
|
|
1,814 |
|
|
|
198 |
|
|
|
167 |
|
|
|
4,264 |
|
|
|
|
|
|
|
Ending Balance
|
|
$ |
1,541 |
|
|
$ |
200 |
|
|
$ |
967 |
|
|
$ |
5,273 |
|
|
$ |
593 |
|
|
$ |
283 |
|
|
$ |
8,857 |
|
|
|
|
|
|
|
Allowance for loan losses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance: individually evaluated for impairment
|
|
$ |
1,100 |
|
|
$ |
|
|
|
$ |
922 |
|
|
$ |
1,758 |
|
|
$ |
300 |
|
|
$ |
35 |
|
|
$ |
4,115 |
|
|
|
|
|
|
|
Ending balance: collectively evaluated for impairment
|
|
$ |
441 |
|
|
$ |
200 |
|
|
$ |
45 |
|
|
$ |
3,515 |
|
|
$ |
293 |
|
|
$ |
248 |
|
|
$ |
4,742 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance: individually evaluated for impairment
|
|
$ |
20,357 |
|
|
$ |
21,165 |
|
|
$ |
8,267 |
|
|
$ |
33,848 |
|
|
$ |
2,525 |
|
|
$ |
72 |
|
|
$ |
86,234 |
|
|
|
|
|
|
|
Ending balance: collectively evaluated for impairment
|
|
$ |
39,830 |
|
|
$ |
6,173 |
|
|
$ |
44,319 |
|
|
$ |
212,572 |
|
|
$ |
32,479 |
|
|
$ |
9,476 |
|
|
$ |
344,849 |
|
|
|
|
|
|
|