XML 49 R30.htm IDEA: XBRL DOCUMENT v2.4.0.8
LOANS (Tables)
 12 Months Ended
Dec. 31, 2013
LOANS  
Schedule of the major classifications of loans

 

December 31,

 

2013

 

2012

 

(In thousands)

 

 

 

 

 

Commercial real estate mortgage loans

 

$

484,900

 

$

332,782

 

Multi-family mortgage loans

 

 

107,488

 

 

66,080

 

Residential real estate mortgage loans

 

 

153,417

 

 

143,703

 

Commercial, financial and agricultural loans

 

 

209,452

 

 

197,448

 

Real estate construction and land loans

 

 

46,981

 

 

48,632

 

Installment/consumer loans

 

 

9,287

 

 

9,167

 

Total loans

 

 

1,011,525

 

 

797,812

 

Net deferred loan costs and fees

 

 

1,738

 

 

634

 

 

 

 

1,013,263

 

 

798,446

 

Allowance for loan losses

 

 

(16,001

)

 

(14,439

)

Net loans

 

$

997,262

 

$

784,007
Schedule of changes in the allowance for loan losses

 

December 31,

 

2013

 

2012

 

2011

 

(In thousands)

 

 

 

 

 

 

 

Allowance for loan losses balance at beginning of period

 

$

14,439

 

$

10,837

 

$

8,497

 

 

 

 

 

 

 

 

 

Charge-offs

 

(916

)

(1,510

)

(1,681

)

Recoveries

 

128

 

112

 

121

 

Net charge-offs

 

(788

)

(1,398

)

(1,560

)

Provision for loan losses charged to operations

 

2,350

 

5,000

 

3,900

 

Balance at end of period

 

$

16,001

 

$

14,439

 

$

10,837
Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method

 

December 31, 2013

 

Commercial Real
Estate Mortgage
Loans

 

 

Multi-family
Loans

 

Residential Real
Estate
Mortgage Loans

 

Commercial,
Financial and
Agricultural
Loans

 

Real Estate
Construction
and Land
Loans

 

Installment/
Consumer
Loans

 

 

Total

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

4,445

 

$

1,239

 

$

2,803

 

$

4,349

 

$

1,375

 

$

228

 

$

14,439

 

Charge-offs

 

—

 

—

 

(420

)

(420

)

(23

)

(53

)

(916

)

Recoveries

 

—

 

—

 

34

 

87

 

2

 

5

 

128

 

Provision

 

1,834

 

358

 

295

 

(10

)

(148

)

21

 

2,350

 

Ending balance

 

$

6,279

 

$

1,597

 

$

2,712

 

$

4,006

 

$

1,206

 

$

201

 

$

16,001

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: individually evaluated for impairment

 

$

116

 

$

—

 

$

122

 

$

—

 

$

—

 

$

—

 

$

238

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: collectively evaluated for impairment

 

$

6,163

 

$

1,597

 

$

2,590

 

$

4,006

 

$

1,206

 

$

201

 

$

15,763

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: loans acquired with deteriorated credit quality

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

 

$

484,900

 

$

107,488

 

$

153,417

 

$

209,452

 

$

46,981

 

$

9,287

 

$

1,011,525

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: individually evaluated for impairment

 

$

5,950

 

$

—

 

$

2,382

 

$

526

 

$

—

 

$

—

 

$

8,858

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: collectively evaluated for impairment

 

$

478,129

 

$

107,488

 

$

151,035

 

$

208,677

 

$

46,641

 

$

9,287

 

$

1,001,257

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: loans acquired with deteriorated credit quality

 

$

821

 

$

—

 

$

—

 

$

249

 

$

340

 

$

—

 

$

1,410

 

 

December 31, 2012

 

Commercial
Real Estate
Mortgage
Loans

 

Multi-family
Loans

 

Residential Real
Estate Mortgage
Loans

 

Commercial,
Financial and
Agricultural
Loans

 

Real Estate
Construction and
Land Loans

 

Installment/
Consumer
Loans

 

 

Total

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

3,530

 

$

395

 

$

2,280

 

$

2,895

 

$

1,465

 

$

272

 

$

10,837

 

Charge-offs

 

—

 

—

 

(1,210

)

(285

)

—

 

(15

)

(1,510

)

Recoveries

 

—

 

—

 

7

 

83

 

—

 

22

 

112

 

Provision

 

915

 

844

 

1,726

 

1,656

 

(90

)

(51

)

5,000

 

Ending balance

 

$

4,445

 

$

1,239

 

$

2,803

 

$

4,349

 

$

1,375

 

$

228

 

$

14,439

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: individually evaluated for impairment

 

$

—

 

$

—

 

$

141

 

$

228

 

$

—

 

$

—

 

$

369

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: collectively evaluated for impairment

 

$

4,445

 

$

1,239

 

$

2,662

 

$

4,121

 

$

1,375

 

$

228

 

$

14,070

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: loans acquired with deteriorated credit quality

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

 

$

332,782

 

$

66,080

 

$

143,703

 

$

197,448

 

$

48,632

 

$

9,167

 

$

797,812

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: individually evaluated for impairment

 

$

4,776

 

$

—

 

$

2,549

 

$

883

 

$

—

 

$

—

 

$

8,208

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: collectively evaluated for impairment

 

$

327,282

 

$

66,080

 

$

141,154

 

$

196,350

 

$

48,331

 

$

9,167

 

$

788,364

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance: loans acquired with deteriorated credit quality

 

$

724

 

$

—

 

$

—

 

$

215

 

$

301

 

$

—

 

$

1,240
Schedule of loans by class categorized by internally assigned credit risk grades

Grades:

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

Pass

 

Special Mention

 

Substandard

 

Doubtful

 

Total

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

$

164,502

 

$

11,828

 

$

7,336

 

$

—

 

$

183,666

 

Non-owner occupied

 

291,758

 

5,490

 

3,986

 

—

 

301,234

 

Multi-family loans

 

107,488

 

—

 

—

 

—

 

107,488

 

Residential real estate:

 

 

 

 

 

 

 

 

 

 

 

First lien

 

87,288

 

264

 

2,847

 

—

 

90,399

 

Home equity

 

60,285

 

1,014

 

1,719

 

—

 

63,018

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

Secured

 

69,475

 

4,320

 

2,175

 

—

 

75,970

 

Unsecured

 

128,655

 

3,749

 

1,078

 

—

 

133,482

 

Real estate construction and land loans

 

46,311

 

—

 

670

 

—

 

46,981

 

Installment/consumer loans

 

9,144

 

44

 

99

 

—

 

9,287

 

Total loans

 

$

964,906

 

$

26,709

 

$

19,910

 

$

—

 

$

1,011,525

 

 

 

 

Grades:

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

Pass

 

Special Mention

 

Substandard

 

Doubtful

 

Total

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

$

138,675

 

$

11,285

 

$

11,039

 

$

—

 

$

160,999

 

Non-owner occupied

 

159,967

 

7,523

 

4,293

 

—

 

171,783

 

Multi-family loans

 

66,080

 

—

 

—

 

—

 

66,080

 

Residential real estate:

 

 

 

 

 

 

 

 

 

 

 

First lien

 

72,158

 

—

 

2,846

 

717

 

75,721

 

Home equity

 

65,955

 

745

 

1,282

 

—

 

67,982

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

Secured

 

81,661

 

1,447

 

5,605

 

—

 

88,713

 

Unsecured

 

105,454

 

1,948

 

1,234

 

99

 

108,735

 

Real estate construction and land loans

 

45,178

 

—

 

3,454

 

—

 

48,632

 

Installment/consumer loans

 

9,058

 

—

 

109

 

—

 

9,167

 

Total loans

 

$

744,186

 

$

22,948

 

$

29,862

 

$

816

 

$

797,812

 

 
Schedule of the aging of the recorded investment in past due loans by class of loans

 

December 31, 2013

 

30-59 Days
Past Due

 

60-89 Days
Past Due

 

>90 Days
Past Due
And
Accruing

 

Nonaccrual
Including 90
Days or More
Past Due

 

Total Past
Due and
Nonaccrual

 

Current

 

Total Loans

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

$

327

 

$

201

 

$

1

 

$

1,072

 

$

1,601

 

$

182,065

 

$

183,666

 

Non-owner occupied

 

—

 

193

 

—

 

617

 

810

 

300,424

 

301,234

 

Multi-family loans

 

—

 

—

 

—

 

—

 

—

 

107,488

 

107,488

 

Residential real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First lien

 

329

 

—

 

—

 

1,286

 

1,615

 

88,784

 

90,399

 

Home equity

 

341

 

127

 

—

 

767

 

1,235

 

61,783

 

63,018

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured

 

—

 

—

 

—

 

58

 

58

 

75,912

 

75,970

 

Unsecured

 

—

 

20

 

—

 

21

 

41

 

133,441

 

133,482

 

Real estate construction and land loans

 

—

 

—

 

—

 

—

 

—

 

46,981

 

46,981

 

Installment/consumer loans

 

5

 

6

 

—

 

—

 

11

 

9,276

 

9,287

 

Total loans

 

$

1,002

 

$

547

 

$

1

 

$

3,821

 

$

5,371

 

$

1,006,154

 

$

1,011,525

 

 

December 31, 2012

 

30-59 Days
Past Due

 

60-89 Days
Past Due

 

>90 Days
Past Due
And
Accruing

 

Nonaccrual
Including 90
Days or More
Past Due

 

Total Past
Due and
Nonaccrual

 

Current

 

Total Loans

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

$

—

 

$

1,265

 

$

491

 

$

492

 

$

2,248

 

$

158,751

 

$

160,999

 

Non-owner occupied

 

—

 

—

 

—

 

—

 

—

 

171,783

 

171,783

 

Multi-family loans

 

—

 

—

 

—

 

—

 

—

 

66,080

 

66,080

 

Residential real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First lien

 

—

 

158

 

—

 

1,203

 

1,361

 

74,360

 

75,721

 

Home equity

 

965

 

—

 

—

 

1,010

 

1,975

 

66,007

 

67,982

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured

 

—

 

—

 

—

 

136

 

136

 

88,577

 

88,713

 

Unsecured

 

22

 

—

 

—

 

426

 

448

 

108,287

 

108,735

 

Real estate construction and land loans

 

—

 

—

 

—

 

22

 

22

 

48,610

 

48,632

 

Installment/consumer loans

 

—

 

—

 

—

 

—

 

—

 

9,167

 

9,167

 

Total loans

 

$

987

 

$

1,423

 

$

491

 

$

3,289

 

$

6,190

 

$

791,622

 

$

797,812
Schedule of impaired loans by class

 

December 31, 2013

 

Recorded
Investment

 

Unpaid
Principal
Balance

 

Related
Allocated
Allowance

 

Average
Recorded
Investment

 

Interest
Income
Recognized

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

$

3,696

 

$

3,805

 

$

—

 

$

3,730

 

$

118

 

Non-owner occupied

 

917

 

917

 

—

 

917

 

60

 

Residential real estate:

 

 

 

 

 

 

 

 

 

 

 

First lien

 

1,463

 

2,213

 

—

 

1,482

 

26

 

Home equity

 

689

 

1,046

 

—

 

633

 

—

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

Secured

 

352

 

352

 

—

 

450

 

26

 

Unsecured

 

174

 

—

 

—

 

232

 

59

 

Total with no related allowance recorded

 

7,291

 

8,333

 

—

 

7,444

 

289

 

 

 

 

 

 

 

 

 

 

 

 

 

With an allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate – Owner occupied

 

720

 

720

 

94

 

420

 

—

 

Commercial real estate – Non-owner occupied

 

617

 

617

 

22

 

515

 

—

 

Residential real estate – First Lien

 

152

 

156

 

42

 

141

 

—

 

Residential real Estate – Home equity

 

78

 

89

 

80

 

81

 

—

 

Total with an allowance recorded

 

1,567

 

1,582

 

238

 

1,157

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total:

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

4,416

 

4,525

 

94

 

4,150

 

118

 

Non-owner occupied

 

1,534

 

1,534

 

22

 

1,432

 

60

 

Residential real estate:

 

 

 

 

 

 

 

 

 

 

 

First lien

 

1,615

 

2,369

 

42

 

1,623

 

26

 

Home equity

 

767

 

1,135

 

80

 

714

 

—

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

Secured

 

352

 

352

 

—

 

450

 

26

 

Unsecured

 

174

 

—

 

—

 

232

 

59

 

Total

 

$

8,858

 

$

9,915

 

$

238

 

$

8,601

 

$

289

 

 

December 31, 2012

 

Recorded
Investment

 

Unpaid Principal
Balance

 

Related
Allocated
Allowance

 

Average
Recorded
Investment

 

Interest Income
Recognized

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

$

3,860

 

$

3,931

 

$

—

 

$

3,816

 

$

116

 

Non-owner occupied

 

916

 

916

 

—

 

916

 

61

 

Residential real estate:

 

 

 

 

 

 

 

 

 

 

 

First lien

 

1,539

 

2,151

 

—

 

1,484

 

35

 

Home equity

 

736

 

1,094

 

—

 

768

 

—

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

Secured

 

515

 

520

 

—

 

281

 

14

 

Unsecured

 

95

 

97

 

—

 

42

 

—

 

Real estate construction and land loans

 

—

 

—

 

—

 

2

 

—

 

Total with no related allowance recorded

 

7,661

 

8,709

 

—

 

7,309

 

226

 

 

 

 

 

 

 

 

 

 

 

 

 

With an allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

Residential real estate – Home equity

 

274

 

287

 

141

 

244

 

—

 

Commercial - Unsecured

 

273

 

302

 

228

 

236

 

—

 

Total with an allowance recorded

 

547

 

589

 

369

 

480

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total:

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

3,860

 

3,931

 

—

 

3,816

 

116

 

Non-owner occupied

 

916

 

916

 

—

 

916

 

61

 

Residential real estate:

 

 

 

 

 

 

 

 

 

 

 

First lien

 

1,539

 

2,151

 

—

 

1,484

 

35

 

Home equity

 

1,010

 

1,381

 

141

 

1,012

 

—

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

Secured

 

515

 

520

 

—

 

281

 

14

 

Unsecured

 

368

 

399

 

228

 

278

 

—

 

Real estate construction and land loans

 

—

 

—

 

—

 

2

 

—

 

Total

 

$

8,208

 

$

9,298

 

$

369

 

$

7,789

 

$

226
Schedule of loans receivable by class modified as troubled debt restructurings

 

Years Ended December 31,

 

2013

 

2012

 

 

 

Number of
Contracts

 

Pre-Modification
Outstanding
Recorded
Investment

 

Post-Modification
Outstanding
Recorded
Investment

 

Number of
Contracts

 

Pre-Modification
Outstanding
Recorded
Investment

 

Post-Modification
Outstanding
Recorded
Investment

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Trouble Debt Restructurings

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

1

 

$

720

 

$

720

 

1

 

$

163

 

$

160

 

Non-owner occupied

 

1

 

620

 

620

 

—

 

—

 

—

 

Multi-Family

 

—

 

—

 

—

 

—

 

—

 

—

 

Residential real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

First lien

 

—

 

—

 

—

 

—

 

—

 

—

 

Home equity:

 

—

 

—

 

—

 

—

 

—

 

—

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured

 

—

 

—

 

—

 

1

 

387

 

380

 

Unsecured

 

1

 

33

 

33

 

1

 

42

 

39

 

Real estate construction and land loans

 

—

 

—

 

—

 

—

 

—

 

—

 

Installment/consumer loans

 

—

 

—

 

—

 

—

 

—

 

—

 

Total loans

 

3

 

$

1,373

 

$

1,373

 

3

 

$

592

 

$

579
Schedule of selected information about related party loans

 

 

 

Balance

Outstanding

 

 

 

(In thousands)

 

 

 

 

 

Balance at December 31, 2012

 

$

1,271

 

 

 

New loans

 

2,800

 

 

 

Effective change in related parties

 

—

 

 

 

Advances

 

17

 

 

 

Repayments

 

(1,037

)

 

 

Balance at December 31, 2013

 

$

3,051