Loans Receivable (Tables)

6 Months Ended

Jun. 30, 2012

Loans Receivable [Abstract]

Schedule of loans receivable

The Company’s loans receivable as of the respective dates are summarized as follows:

(In thousands)	June 30, 2012			December 31, 2011
Mortgage loans:
Residential real estate
Single family	$	326,487		$	312,723
Multi family		33,426			32,370
Construction		44,795			45,363
Total residential real estate		404,708			390,456
Commercial real estate
Commercial		79,779			83,447
Construction		19,095			17,307
Total commercial real estate		98,874			100,754
Subtotal mortgage loans		503,582			491,210
Other loans:
Consumer loans
Home equity loans		72,536			72,493
Dealer auto and RV loans		47,841			47,039
Other loans		8,305			9,255
Total consumer loans		128,682			128,787
Commercial business		52,375			50,337
Subtotal other loans		181,057			179,124
Total loans receivable		684,639			670,334
Less:
Allowance for loan losses		6,741			6,537
Deferred loan fees and net discounts		(1,974	)		(1,852	)
Loans in process		15,396			16,728
Subtotal		20,163			21,413
Net loans receivable	$	664,476		$	648,921

Changes in allowance for loan losses and recorded investment in loans

As of June 30, 2012
(Dollar amounts in thousands)	Commercial		Commercial Real Estate			Consumer		Residential		Unallocated			Total
Allowance for loan losses:
Beginning balance	$	384	$	2,442		$	1,045	$	2,115	$	551		$	6,537
Charge-offs		—		—			239		124		—			363
Recoveries		—		—			50		17		—			67
Provision		—		—			—		500		—			500
Reallocations		50		(143	)		148		11		(66	)		—
Ending Balance	$	434	$	2,299		$	1,004	$	2,519	$	485		$	6,741

As of June 30, 2011
(Dollar amounts in thousands)	Commercial			Commercial Real Estate		Consumer			Residential			Unallocated		Total
Allowance for loan losses:
Beginning balance	$	784		$	1,831	$	1,125		$	2,573		$	234	$	6,547
Charge-offs		178			—		267			58			—		503
Recoveries		24			—		84			1			—		109
Provision		—			25		225			175			75		500
Reallocations		(263	)		171		(59	)		(55	)		206		—
Ending Balance	$	367		$	2,027	$	1,108		$	2,636		$	515	$	6,653

Schedule of recorded investment in loans

The following tables present by portfolio segment, the recorded investment in loans at June 30, 2012 and December 31, 2011.

As of June 30, 2012
(Dollar amounts in thousands)	Commercial		Commercial Real Estate		Consumer		Residential		Unallocated		Total
Ending balance: individually evaluated for impairment	$	3	$	1,386	$	48	$	—	$	—	$	1,437
Ending balance: collectively evaluated for impairment	$	431	$	913	$	956	$	2,519	$	485	$	5,304
Ending balance: loans acquired with deteriorated credit quality	$	—	$	—	$	—	$	—	$	—	$	—
Loans Receivable:
Ending Balance	$	52,375	$	98,874	$	128,682	$	404,708	$	—	$	684,639
Ending balance: individually evaluated for impairment	$	38	$	13,857	$	152	$	2,508	$	—	$	16,555
Ending balance: collectively evaluated for impairment	$	52,337	$	85,017	$	128,530	$	402,200	$	—	$	668,084
Ending balance: loans acquired with deteriorated credit quality	$	—	$	—	$	—	$	—	$	—	$	—

As of December 11, 2011
(Dollar amounts in thousands)	Commercial		Commercial Real Estate		Consumer		Residential		Unallocated		Total
Ending balance: individually evaluated for impairment	$	2	$	850	$	50	$	271	$	—	$	1,173
Ending balance: collectively evaluated for impairment	$	336	$	1,161	$	1,103	$	2,405	$	418	$	5,423
Ending balance: loans acquired with deteriorated credit quality	$	—	$	—	$	—	$	—	$	—	$	—
Loans Receivable:
Ending Balance	$	50,337	$	100,754	$	128,787	$	390,456	$	—	$	670,334
Ending balance: individually evaluated for impairment	$	63	$	14,023	$	153	$	1,364	$	—	$	15,603
Ending balance: collectively evaluated for impairment	$	50,274	$	86,731	$	128,634	$	389,092	$	—	$	654,731
Ending balance: loans acquired with deteriorated credit quality	$	—	$	—	$	—	$	—	$	—	$	—

Schedule of credit exposures by internally assigned grades

As of June 30, 2012
(Dollar amounts in thousands)
	Residential Real Estate Multi - family		Residential Real Estate Construction		Commercial Real Estate Commercial		Commercial Real Estate Construction		Commercial
Pass	$	33,426	$	38,694	$	63,809	$	19,095	$	52,290
Special Mention		—		4,954		2,079		—		49
Substandard		—		1,147		13,891		—		36
Doubtful		—		—		—		—		—
Loss		—		—		—		—		—
Ending Balance	$	33,426	$	44,795	$	79,779	$	19,095	$	52,375

As of December 31, 2011
(Dollar amounts in thousands)
	Residential Real Estate Multi - family		Residential Real Estate Construction		Commercial Real Estate Commercial		Commercial Real Estate Construction		Commercial
Pass	$	32,370	$	38,219	$	67,119	$	17,307	$	50,232
Special Mention		—		7,144		2,319		—		57
Substandard		—		—		14,009		—		39
Doubtful		—		—		—		—		—
Loss		—		—		—		—		9
Ending Balance	$	32,370	$	45,363	$	83,447	$	17,307	$	50,337

Performing and nonperforming single family residential and consumer loans based on payment activity

The following tables present performing and nonperforming single family residential and consumer loans based on payment activity as of June 30, 2012 and December 31, 2011. Payment activity is reviewed by management on a monthly basis to determine how loans are performing. Loans are considered to be nonperforming when they become 90 days delinquent.

As of June 30, 2012
(Dollar amounts in thousands)
	Residential Real Estate Single Family		Consumer Home Equity		Dealer Auto and RV		Other Consumer
Performing	$	322,319	$	72,123	$	47,741	$	8,187
Nonperforming		4,168		413		100		118
Total	$	326,487	$	72,536	$	47,841	$	8,305

As of December 31, 2011
(Dollar amounts in thousands)
	Residential Real Estate Single Family		Consumer Home Equity		Dealer Auto and RV		Other Consumer
Performing	$	310,263	$	72,091	$	46,907	$	9,162
Nonperforming		2,460		402		132		93
Total	$	312,723	$	72,493	$	47,039	$	9,255

Aging analysis of investment of past due loans receivable

Following tables are an aging analysis of the investment of past due loans receivable as of June 30, 2012 and December 31, 2011.

(Dollar amounts in thousands)													Recorded
As of June 30, 2012													Investment >
	30-59 Days		60-89 Days		90 Days		Total Past				Total Loans		90 Days and
	Past Due		Past Due		Or Greater		Due		Current		Receivable		Accruing
Residential real estate
Single family	$	414	$	509	$	4,168	$	5,091	$	321,396	$	326,487	$	—
Construction		—		—		—		—		44,795		44,795		—
Multi-family		—		—		—		—		33,426		33,426		—
Commercial Real Estate
Commercial		223		772		3,104		4,099		75,680		79,779		—
Construction		—		—		—		—		19,095		19,095		—
Consumer
Consumer - home equity		124		48		260		432		72,104		72,536		—
Consumer - dealer auto and RV		469		106		100		675		47,166		47,841		—
Consumer - other		25		15		118		158		8,147		8,305		—
Commercial		60		4		37		101		52,274		52,375		—
Total	$	1,315	$	1,454	$	7,787	$	10,556	$	674,083	$	684,639	$	—

(Dollar amounts in thousands)													Recorded
As of December 31, 2011													Investment >
	30-59 Days		60-89 Days		90 Days		Total Past				Total Loans		90 Days and
	Past Due		Past Due		Or Greater		Due		Current		Receivable		Accruing
Residential real estate
Single family	$	464	$	2,933	$	2,460	$	5,857	$	306,866	$	312,723	$	—
Construction		—		—		—		—		45,363		45,363		—
Multi-family		—		—		—		—		32,370		32,370		—
Commercial Real Estate
Commercial		48		1,507		2,629		4,184		79,263		83,447		—
Construction		—		—		—		—		17,307		17,307		—
Consumer
Consumer - home equity		143		9		249		401		72,092		72,493		—
Consumer - dealer auto and RV		698		101		132		931		46,108		47,039		—
Consumer - other		98		23		93		214		9,041		9,255		—
Commercial		59		—		54		113		50,224		50,337		—
Total	$	1,510	$	4,573	$	5,617	$	11,700	$	658,634	$	670,334	$	—

Recorded investment and unpaid principal balances for impaired loans receivable

The following tables summarize impaired loans:

(Dollar amounts in thousands)
	June 30, 2012						December 31, 2011
	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance		Related Allowance
With no related allowance recorded:
Commercial Real Estate:
Commercial Real Estate	$	5,509	$	5,616	$	—	$	5,568	$	5,675	$	—
Commercial business loans		—		—		—		39		39		—
Residential loans		1,362		1,362		—		1,364		1,364		—
Residential Construction loans		1,147		1,147		—		—		—		—
With an allowance recorded:
Commercial Real Estate:
Commercial Real Estate	$	8,348		8,348		1,385	$	8,454		8,454		1,489
Consumer Loans:
Home Equity		152		152		48		153		153		50
Commercial business loans		38		38		3		25		25		10
Total:
Commercial Real Estate	$	13,857	$	13,964	$	1,385	$	14,023	$	14,129	$	1,489
Consumer		152		152		48		153		153		50
Residential		1,362		1,362		—		1,364		1,364		—
Residential Construction loans		1,147		1,147		—		—		—		—
Commercial		38		38		3		63		63		10

(Dollar amounts in thousands)
	Six months ended				Six months ended
	June 30, 2012				June 30, 2011
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Commercial Real Estate:
Commercial Real Estate	$	5,503	$	112	$	1,149	$	10
Commercial business loans		—		—		93		6
Residential loans		1,363		5		—		—
Residential construction loans		164		22		—		—
With an allowance recorded:
Residential Real Estate
Construction		—		—		2,046		—
Commercial Real Estate:
Commercial Real Estate		8,398		214		7,339		276
Consumer Loans:
Home Equity		153		5		155		4
Commercial business loans		43		—		205		2
Total:
Commercial Real Estate	$	13,901	$	326	$	8,488	$	286
Consumer		153		5		155		4
Residential		1,363		5		2,046		—
Residential construction loans		164		22
Commercial		43		—		298		8

Schedule of loans receivable on nonaccrual status

On the following table are the loans receivable on nonaccrual status as of June 30, 2012 and December 31, 2011. The balances are presented by class of loans:

(Dollar amounts in thousands)	June 30, 2012		December 31, 2011
Commercial	$	37	$	54
Commercial Real Estate		11,714		10,237
Consumer
Consumer - Home Equity		413		402
Consumer - Dealer auto and RV		100		132
Consumer - other		118		93
Residential		4,168		2,460
Total	$	16,550	$	13,378

Summary of information relating to troubled debt restructuring by class of loans

The following table includes the recorded investment and number of modifications for modified loans, as of June 30, 2012 and December 31, 2011. The Company reports the recorded investment in the loans prior to a modification and also the recorded investment in the loans after the loans were restructured.

(Dollar amounts in thousands)
	As of June 30, 2012						As of December 31, 2011
	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
Troubled Debt Restructurings
Residential construction loans		3	$	947	$	947		—	$	—	$	—
Commercial Real Estate		1		100		100		3		7,368		7,528
Consumer		—		—		—		—		—		—
Troubled Debt Restructurings
That Subsequently Defaulted		—		—		—		—		—		—
Troubled Debt Restructurings
Commercial Real Estate		—		—		—		—		—		—