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Loans and Allowance for Loan Losses (Tables)
 9 Months Ended
Sep. 30, 2015
Receivables [Abstract]  
Schedule of Details on Loans of Company
The following schedule details the loans of the Company at September 30, 2015 and December 31, 2014:
 
(In Thousands)
 
September 30,
2015
 
December 31,
2014
Mortgage loans on real estate
 
 
 
       Residential 1-4 family
$
357,360

 
$
350,758

Multifamily
53,956

 
31,242

Commercial
603,283

 
564,965

Construction and land development
286,381

 
245,830

Farmland
34,911

 
30,236

Second mortgages
8,053

 
9,026

Equity lines of credit
47,958

 
41,496

Total mortgage loans on real estate
1,391,902

 
1,273,553

Commercial loans
27,278

 
30,000

Agricultural loans
1,524

 
1,670

Consumer installment loans
 
 
 
Personal
38,768

 
37,745

Credit cards
3,002

 
3,280

Total consumer installment loans
41,770

 
41,025

Other loans
9,700

 
10,530

 
1,472,174

 
1,356,778

Net deferred loan fees
(5,138
)
 
(4,341
)
Total loans
1,467,036

 
1,352,437

Less: Allowance for loan losses
(22,702
)
 
(22,572
)
Net Loans
$
1,444,334

 
$
1,329,865
Transactions in Allowance for Loan Losses
Transactions in the allowance for loan losses for the nine months ended September 30, 2015 and year ended December 31, 2014 are summarized as follows:

 
(In Thousands)
 
Residential
1-4 Family
 
Multifamily
 
Commercial
Real Estate
 
Construction
 
Farmland
 
Second
Mortgages
 
Equity Lines
of Credit
 
Commercial
 
Agricultural
 
Installment
and Other
 
Total
September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
5,582

 
172

 
9,578

 
5,578

 
795

 
61

 
304

 
176

 
2

 
324

 
22,572

Provision
225

 
125

 
(1,259
)
 
900

 
(185
)
 
72

 
49

 
32

 
4

 
302

 
265

Charge-offs
(156
)
 
—

 
(43
)
 
(1
)
 
—

 
(45
)
 
(6
)
 
—

 
(2
)
 
(465
)
 
(718
)
Recoveries
37

 
—

 
315

 
32

 
1

 
—

 
1

 
6

 
2

 
189

 
583

Ending balance
$
5,688

 
297

 
8,591

 
6,509

 
611

 
88

 
348

 
214

 
6

 
350

 
22,702

Ending balance individually evaluated for impairment
$
208

 
—

 
711

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
919

Ending balance collectively evaluated for impairment
$
5,480

 
297

 
7,880

 
6,509

 
611

 
88

 
348

 
214

 
6

 
350

 
21,783

Ending balance loans acquired with deteriorated credit quality
$
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
$
357,360

 
53,956

 
603,283

 
286,381

 
34,911

 
8,053

 
47,958

 
27,278

 
1,524

 
51,470

 
1,472,174

Ending balance individually evaluated for impairment
$
1,378

 
—

 
8,703

 
—

 
575

 
—

 
—

 
—

 
—

 
—

 
10,656

Ending balance collectively evaluated for impairment
$
355,982

 
53,956

 
594,580

 
286,381

 
34,336

 
8,053

 
47,958

 
27,278

 
1,524

 
51,470

 
1,461,518

Ending balance loans acquired with deteriorated credit quality
$
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
Residential
1-4 Family
 
Multifamily
 
Commercial
Real Estate
 
Construction
 
Farmland
 
Second
Mortgages
 
Equity Lines
of Credit
 
Commercial
 
Agricultural
 
Installment
and Other
 
Total
December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
4,935

 
77

 
10,918

 
5,159

 
618

 
205

 
300

 
395

 
7

 
321

 
22,935

Provision
1,059

 
95

 
(378
)
 
102

 
176

 
(164
)
 
3

 
(641
)
 
(10
)
 
256

 
498

Charge-offs
(468
)
 
—

 
(968
)
 
(7
)
 
—

 
—

 
—

 
(37
)
 
—

 
(387
)
 
(1,867
)
Recoveries
56

 
—

 
6

 
324

 
1

 
20

 
1

 
459

 
5

 
134

 
1,006

Ending balance
$
5,582

 
172

 
9,578

 
5,578

 
795

 
61

 
304

 
176

 
2

 
324

 
22,572

Ending balance individually evaluated for impairment
$
376

 
—

 
1,135

 
—

 
120

 
—

 
—

 
—

 
—

 
—

 
1,631

Ending balance collectively evaluated for impairment
$
5,206

 
172

 
8,443

 
5,578

 
675

 
61

 
304

 
176

 
2

 
324

 
20,941

Ending balance loans acquired with deteriorated credit quality
$
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
$
350,758

 
31,242

 
564,965

 
245,830

 
30,236

 
9,026

 
41,496

 
30,000

 
1,670

 
51,555

 
1,356,778

Ending balance individually evaluated for impairment
$
3,061

 
—

 
6,455

 
—

 
701

 
280

 
—

 
—

 
—

 
—

 
10,497

Ending balance collectively evaluated for impairment
$
347,697

 
31,242

 
558,510

 
245,830

 
29,535

 
8,746

 
41,496

 
30,000

 
1,670

 
51,555

 
1,346,281

Ending balance loans acquired with deteriorated credit quality
$
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—
Company's Impaired Loans
The following table presents the Company’s impaired loans at September 30, 2015 and December 31, 2014.
 










 
In Thousands
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
September 30, 2015
 
 
 
 
 
 
 
 
 
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Residential 1-4 family
$
629

 
622

 
—

 
754

 
29

Multifamily
—

 
—

 
—

 
—

 
—

Commercial real estate
4,293

 
4,293

 
—

 
5,183

 
5

Construction
—

 
—

 
—

 
—

 
—

Farmland
575

 
575

 
—

 
383

 
—

Second mortgages
—

 
—

 
—

 
—

 
—

Equity lines of credit
—

 
—

 
—

 
—

 
—

Commercial
—

 
—

 
—

 
—

 
—

Agricultural
—

 
—

 
—

 
—

 
—

 
$
5,497

 
5,490

 
—

 
6,320

 
34

With allowance recorded:
 
 
 
 
 
 
 
 
 
Residential 1-4 family
$
764

 
756

 
208

 
768

 
32

Multifamily
—

 
—

 
—

 
—

 
—

Commercial real estate
4,420

 
6,113

 
711

 
4,558

 
147

Construction
—

 
—

 
—

 
—

 
—

Farmland
—

 
—

 
—

 
191

 
—

Second mortgages
—

 
—

 
—

 
—

 
—

Equity lines of credit
—

 
—

 
—

 
—

 
—

Commercial
—

 
—

 
—

 
—

 
—

Agricultural
—

 
—

 
—

 
—

 
—

 
$
5,184

 
6,869

 
919

 
5,517

 
179

Total
 
 
 
 
 
 
 
 
 
Residential 1-4 family
$
1,393

 
1,378

 
208

 
1,522

 
61

Multifamily
—

 
—

 
—

 
—

 
—

Commercial real estate
8,713

 
10,406

 
711

 
9,741

 
152

Construction
—

 
—

 
—

 
—

 
—

Farmland
575

 
575

 
—

 
574

 
—

Second mortgages
—

 
—

 
—

 
—

 
—

Equity lines of credit
—

 
—

 
—

 
—

 
—

Commercial
—

 
—

 
—

 
—

 
—

Agricultural
—

 
—

 
—

 
—

 
—

 
$
10,681

 
12,359

 
919

 
11,837

 
213

 
In Thousands
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
December 31, 2014
 
 
 
 
 
 
 
 
 
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Residential 1-4 family
$
1,891

 
1,854

 
—

 
1,081

 
114

Multifamily
—

 
—

 
—

 
—

 
—

Commercial real estate
1,352

 
2,188

 
—

 
5,984

 
95

Construction
—

 
—

 
—

 
673

 
—

Farmland
—

 
—

 
—

 
—

 
—

Second mortgages
281

 
280

 
—

 
222

 
3

Equity lines of credit
—

 
—

 
—

 
—

 
—

Commercial
—

 
—

 
—

 
—

 
—

Agricultural, installment and other
—

 
—

 
—

 
—

 
—

 
$
3,524

 
4,322

 
—

 
7,960

 
212

With allowance recorded:
 
 
 
 
 
 
 
 
 
Residential 1-4 family
$
1,219

 
1,207

 
376

 
1,363

 
61

Multifamily
—

 
—

 
—

 
—

 
—

Commercial real estate
5,131

 
6,811

 
1,135

 
5,755

 
202

Construction
—

 
—

 
—

 
1,815

 
—

Farmland
702

 
701

 
120

 
767

 
7

Second mortgages
—

 
—

 
—

 
—

 
—

Equity lines of credit
—

 
—

 
—

 
—

 
—

Commercial
—

 
—

 
—

 
—

 
—

Agricultural, installment and other
—

 
—

 
—

 
—

 
—

 
$
7,052

 
8,719

 
1,631

 
9,700

 
270

Total:
 
 
 
 
 
 
 
 
 
Residential 1-4 family
$
3,110

 
3,061

 
376

 
2,444

 
175

Multifamily
—

 
—

 
—

 
—

 
—

Commercial real estate
6,483

 
8,999

 
1,135

 
11,739

 
297

Construction
—

 
—

 
—

 
2,488

 
—

Farmland
702

 
701

 
120

 
767

 
7

Second mortgages
281

 
280

 
—

 
222

 
3

Equity lines of credit
—

 
—

 
—

 
—

 
—

Commercial
—

 
—

 
—

 
—

 
—

Agricultural, installment and other
—

 
—

 
—

 
—

 
—

 
$
10,576

 
13,041

 
1,631

 
17,660

 
482
Summary of Carrying Balances of TDR's
The following table summarizes the carrying balances of TDR’s at September 30, 2015 and December 31, 2014.
 
 
September 30, 2015
 
December 31, 2014
 
(In thousands)
Performing TDRs
$
4,246

 
$
4,443

Nonperforming TDRs
1,968

 
3,597

Total TDRS
$
6,214

 
$
8,040
Troubled Debt Restructuring Categorized by Loan
The following table outlines the amount of each troubled debt restructuring categorized by loan classification for the nine months ended September 30, 2015 and the year ended December 31, 2014 (in thousands, except for number of contracts): 
 
September 30, 2015
 
December 31, 2014
 
Number
of
Contracts
 
Pre
Modification
Outstanding
Recorded
Investment
 
Post
Modification
Outstanding
Recorded
Investment,
Net of Related
Allowance
 
Number
of
Contracts
 
Pre
Modification
Outstanding
Recorded
Investment
 
Post
Modification
Outstanding
Recorded
Investment,
Net of Related
Allowance
Residential 1-4 family
1

 
$
56

 
$
56

 
6

 
$
1,346

 
$
1,218

Multifamily
—

 
—

 
—

 
—

 
—

 
—

Commercial real estate
—

 
—

 
—

 
2

 
1,020

 
1,020

Construction
—

 
—

 
—

 
—

 
—

 
—

Farmland
—

 
—

 
—

 
—

 
—

 
—

Second mortgages
—

 
—

 
—

 
—

 
—

 
—

Equity lines of credit
—

 
—

 
—

 
—

 
—

 
—

Commercial
—

 
—

 
—

 
1

 
3

 
3

Agricultural, installment and other
1

 
2

 
2

 
1

 
1

 
1

Total
2

 
$
58

 
$
58

 
10

 
$
2,370

 
$
2,242
Summary of Loan Portfolio by Risk Rating
The following table is a summary of the Bank’s loan portfolio by risk rating: 
 
(In Thousands)
 
Residential
1-4 Family
 
Multifamily
 
Commercial
Real Estate
 
Construction
 
Farmland
 
Second
Mortgages
 
Equity
Lines
of Credit
 
Commercial
 
Agricultural
 
Installment
and Other
 
Total
September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit Risk Profile by Internally Assigned Rating
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pass
$
347,897

 
53,956

 
586,317

 
285,934

 
33,888

 
7,488

 
47,949

 
27,267

 
1,524

 
51,372

 
1,443,592

Special Mention
5,500

 
—

 
7,721

 
401

 
32

 
290

 
—

 
11

 
—

 
6

 
13,961

Substandard
3,963

 
—

 
9,245

 
46

 
991

 
275

 
9

 
—

 
—

 
92

 
14,621

Doubtful
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
$
357,360

 
53,956

 
603,283

 
286,381

 
34,911

 
8,053

 
47,958

 
27,278

 
1,524

 
51,470

 
1,472,174

December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit Risk Profile by Internally Assigned Rating
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pass
$
339,529

 
31,242

 
545,301

 
243,416

 
29,260

 
8,007

 
41,274

 
29,893

 
1,661

 
51,387

 
1,320,970

Special Mention
7,681

 
—

 
13,313

 
2,362

 
57

 
347

 
176

 
18

 
2

 
14

 
23,970

Substandard
3,548

 
—

 
6,351

 
52

 
919

 
672

 
46

 
89

 
7

 
154

 
11,838

Doubtful
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
$
350,758

 
31,242

 
564,965

 
245,830

 
30,236

 
9,026

 
41,496

 
30,000

 
1,670

 
51,555

 
1,356,778