XML 38 R12.htm IDEA: XBRL DOCUMENT

Note 4 - Loans/Leases Receivable

12 Months Ended

Dec. 31, 2011

Note 4. Loans/Leases Receivable

The composition of the loan/lease portfolio as of December 31, 2011 and 2010 is presented as follows:

	2011			2010

Commercial and industrial loans	$	350,794,278		$	365,625,271
Commercial real estate loans
Owner-occupied commercial real estate		167,790,621			141,411,027
Commercial construction, land development, and other land		60,384,738			65,529,058
Other non owner-occupied commercial real estate		349,628,491			346,777,179
		577,803,850			553,717,264

Direct financing leases *		93,212,362			83,009,647
Residential real estate loans **		98,107,051			82,196,622
Installment and other consumer loans		78,223,080			86,239,944
		1,198,140,621			1,170,788,748
Plus deferred loan/lease orgination costs, net of fees		2,604,876			1,749,855
		1,200,745,497			1,172,538,603
Less allowance for estimated losses on loans/leases		(18,789,262	)		(20,364,656	)
	$	1,181,956,235		$	1,152,173,947


* Direct financing leases:
Net minimum lease payments to be received	$	106,389,988		$	94,921,417
Estimated unguaranteed residual values of leased assets		1,043,326			1,204,865
Unearned lease/residual income		(14,220,952	)		(13,116,635	)
		93,212,362			83,009,647
Plus deferred lease origination costs, net of fees		3,217,011			2,341,628
		96,429,373			85,351,275
Less allowance for estimated losses on leases		(1,339,496	)		(1,530,572	)
	$	95,089,877		$	83,820,703

Management performs an evaluation of the estimated unguaranteed residual values of leased assets on an annual basis, at a minimum. The evaluation consists of discussions with reputable and current vendors and management’s expertise and understanding of the current states of particular industries to determine informal valuations of the equipment. As necessary and where available, management will utilize valuations by independent appraisers. The large majority of leases with residual values contain a lease options rider which requires the lessee to pay the residual value directly, finance the payment of the residual value, or extend the lease term to pay the residual value. In these cases, the residual value is protected and the risk of loss is minimal.

There were no losses during the years ended December 31, 2011 and 2009. For the year ended December 31, 2010, the Company recognized losses totaling $617,000 in residual values for two direct financing equipment leases. At December 31, 2011, the Company had 39 leases remaining with residual values totaling $1,043,326 that were not protected with a lease end options rider. At December 31, 2010, the Company had 54 leases with residual values totaling $1,204,865 that were not protected with a lease end options rider. Management has performed specific evaluations of these residual values and determined that the valuations are appropriate.

**Includes residential real estate loans held for sale totaling $3,832,760 and $14,084,859 as of December 31, 2011 and 2010, respectively.

The aging of the loan/lease portfolio by classes of loans/leases as of December 31, 2011 and 2010 is presented as follows:

	2011
Classes of Loans/Leases	Current			30-59 Days Past Due			60-89 Days Past Due			Accruing Past Due 90 Days or More			Nonaccrual Loans/Leases			Total

Commercial and Industrial	$	347,417,683		$	226,394		$	239,991		$	120,000		$	2,790,210		$	350,794,278
Commercial Real Estate
Owner-Occupied Commercial Real Estate		166,632,318			146,847			-			-			1,011,456			167,790,621
Commercial Construction, Land Development, and Other Land		55,741,827			211,878			486,802			968,919			2,975,312			60,384,738
Other Non Owner-Occupied Commercial Real Estate		336,080,128			522,323			3,732,935			-			9,293,105			349,628,491
Direct Financing Leases		91,273,406			826,187			396,344			-			716,425			93,212,362
Residential Real Estate		95,456,433			1,127,465			389,678			-			1,133,475			98,107,051
Installment and Other Consumer		76,376,399			737,543			12,122			22,160			1,074,856			78,223,080
	$	1,168,978,194		$	3,798,637		$	5,257,872		$	1,111,079		$	18,994,839		$	1,198,140,621

As a percentage of total loan/lease portfolio		97.57	%		0.32	%		0.44	%		0.09	%		1.59	%		100.00	%


		2010
Classes of Loans/Leases	Current			30-59 Days Past Due			60-89 Days Past Due			Accruing Past Due 90 Days or More			Nonaccrual Loans/Leases			Total

Commercial and Industrial	$	353,437,063		$	300,224		$	203,722		$	-		$	11,684,262		$	365,625,271
Commercial Real Estate
Owner-Occupied Commercial Real Estate		139,880,634			236,910			-			103,015			1,190,468			141,411,027
Commercial Construction, Land Development, and Other Land		55,552,352			746,545			-			-			9,230,161			65,529,058
Other Non Owner-Occupied Commercial Real Estate		335,171,858			275,000			546,019			70,125			10,714,177			346,777,179
Direct Financing Leases		79,708,979			1,605,836			92,244			-			1,602,588			83,009,647
Residential Real Estate		79,910,279			876,509			-			123,557			1,286,277			82,196,622
Installment and Other Consumer		84,214,010			101,770			182,349			23,139			1,718,676			86,239,944
	$	1,127,875,175		$	4,142,794		$	1,024,334		$	319,836		$	37,426,609		$	1,170,788,748

As a percentage of total loan/lease portfolio		96.33	%		0.35	%		0.09	%		0.03	%		3.20	%		100.00	%

Nonperforming loans/leases by classes of loans/leases as of December 31, 2011 and 2010 is presented as follows:

	2011
Classes of Loans/Leases	Accruing Past Due 90 Days or More		Nonaccrual Loans/Leases *		Troubled Debt Restructurings - Accruing		Total Nonperforming Loans/Leases		Percentage of Total Nonperforming Loans/Leases

Commercial and Industrial	$	120,000	$	2,790,210	$	187,407	$	3,097,617		9.68	%
Commercial Real Estate
Owner-Occupied Commercial Real Estate		-		1,011,456		-		1,011,456		3.16	%
Commercial Construction, Land Development, and Other Land		968,919		2,975,312		6,076,143		10,020,374		31.30	%
Other Non Owner-Occupied Commercial Real Estate		-		9,293,105		5,049,795		14,342,900		44.81	%
Direct Financing Leases		-		716,425		590,238		1,306,663		4.08	%
Residential Real Estate		-		1,133,475		-		1,133,475		3.54	%
Installment and Other Consumer		22,160		1,074,856		-		1,097,016		3.43	%
	$	1,111,079	$	18,994,839	$	11,903,583	$	32,009,501		100.00	%

*At December 31, 2011, nonaccrual loans/leases included $8,622,874 of troubled debt restructurings, including $198,697 in commercial and industrial loans, $8,074,777 in commercial real estate loans, $64,726 in direct financing leases, and $284,674 in installment loans.

	2010
Classes of Loans/Leases	Accruing Past Due 90 Days or More		Nonaccrual Loans/Leases **		Troubled Debt Restructurings - Accruing		Total Nonperforming Loans/Leases		Percentage of Total Nonperforming Loans/Leases

Commercial and Industrial	$	-	$	11,684,262	$	180,228	$	11,864,490		28.83	%
Commercial Real Estate
Owner-Occupied Commercial Real Estate		103,015		1,190,468		-		1,293,483		3.14	%
Commercial Construction, Land Development, and Other Land		-		9,230,161		961,879		10,192,040		24.77	%
Other Non Owner-Occupied Commercial Real Estate		70,125		10,714,177		2,100,837		12,885,139		31.31	%
Direct Financing Leases		-		1,602,588		162,502		1,765,090		4.29	%
Residential Real Estate		123,557		1,286,277		-		1,409,834		3.43	%
Installment and Other Consumer		23,139		1,718,676		-		1,741,815		4.23	%
	$	319,836	$	37,426,609	$	3,405,446	$	41,151,891		100.00	%

**At December 31, 2010, nonaccrual loans/leases included $12,631,343 of troubled debt restructurings, including $2,200,986 in commercial and industrial loans and $9,407,276 in commercial real estate loans.

Changes in the allowance for estimated losses on loans/leases by portfolio segment for the years ended December 31, 2011, 2010, and 2009 are presented as follows:

	Year Ended December 31, 2011

	Commercial and Industrial			Commercial Real Estate			Direct Financing Leases			Residential Real Estate			Installment and Other Consumer			Total

Balance, beginning	$	7,548,922		$	9,087,315		$	1,530,572		$	748,028		$	1,449,819		$	20,364,656
Provisions charged to expense		256,945			4,759,003			907,014			(4,147	)		697,199			6,616,014
Loans/leases charged off		(3,262,742	)		(3,590,868	)		(1,100,886	)		(38,935	)		(1,068,320	)		(9,061,751	)
Recoveries on loans/leases previously charged off		334,881			341,508			2,796			-			191,158			870,343
Balance, ending	$	4,878,006		$	10,596,958		$	1,339,496		$	704,946		$	1,269,856		$	18,789,262

	Year Ended December 31, 2010

	Commercial and Industrial			Commercial Real Estate			Direct Financing Leases			Residential Real Estate			Installment and Other Consumer			Total

Balance, beginning	$	5,425,624		$	12,665,721		$	1,681,376		$	685,732		$	2,046,281		$	22,504,734
Provisions charged to expense		5,099,350			1,203,163			684,619			97,723			378,763			7,463,618
Loans/leases charged off		(3,309,273	)		(5,210,444	)		(998,737	)		(35,427	)		(1,146,395	)		(10,700,276	)
Recoveries on loans/leases previously charged off		333,221			428,875			163,314			-			171,170			1,096,580
Balance, ending	$	7,548,922		$	9,087,315		$	1,530,572		$	748,028		$	1,449,819		$	20,364,656

	Year Ended December 31, 2009

	Commercial and Industrial			Commercial Real Estate			Direct Financing Leases			Residential Real Estate			Installment and Other Consumer			Total

Balance, beginning	$	7,885,676		$	6,636,213		$	1,401,698		$	690,142		$	1,195,441		$	17,809,170
Provisions charged to expense		3,491,416			10,066,103			1,482,987			163,084			1,771,927			16,975,517
Loans/leases charged off		(6,335,120	)		(4,134,885	)		(1,255,213	)		(167,973	)		(2,113,828	)		(14,007,019	)
Recoveries on loans/leases previously charged off		383,652			98,291			51,902			479			1,192,742			1,727,066
Balance, ending	$	5,425,624		$	12,665,721		$	1,681,376		$	685,732		$	2,046,281		$	22,504,734

The allowance for estimated losses on loans/leases by impairment evaluation and by portfolio segment as of December 31, 2011 and 2010 is presented as follows:

	2011
	Commercial and Industrial			Commercial Real Estate			Direct Financing Leases			Residential Real Estate			Installment and Other Consumer			Total

Allowance for loans/leases individually evaluated for impairment	$	903,187		$	4,297,738		$	66,675		$	55,884		$	22,819		$	5,346,303
Allowance for loans/leases collectively evaluated for impairment		3,974,819			6,299,220			1,272,821			649,062			1,247,037			13,442,959
	$	4,878,006		$	10,596,958		$	1,339,496		$	704,946		$	1,269,856		$	18,789,262


Loans/leases individually evaluated for impairment	$	2,152,855		$	24,281,365		$	1,306,663		$	1,133,474		$	984,806		$	29,859,163
Loans/leases collectively evaluated for impairment		348,641,423			553,522,485			91,905,699			96,973,577			77,238,274			1,168,281,458
	$	350,794,278		$	577,803,850		$	93,212,362		$	98,107,051		$	78,223,080		$	1,198,140,621


Allowance as a percentage of loans/leases individually evaluated for impairment		41.95	%		17.70	%		5.10	%		4.93	%		2.32	%		17.91	%
Allowance as a percentage of loans/leases collectively evaluated for impairment		1.14	%		1.14	%		1.38	%		0.67	%		1.61	%		1.15	%
Total allowance as a percentage of total loans/leaess		1.39	%		1.83	%		1.44	%		0.72	%		1.62	%		1.56	%



		2010
	Commercial and Industrial			Commercial Real Estate			Direct Financing Leases			Residential Real Estate			Installment and Other Consumer			Total

Allowance for loans/leases individually evaluated for impairment	$	3,331,437		$	3,709,177		$	335,000		$	27,355		$	49,777		$	7,452,746
Allowance for loans/leases collectively evaluated for impairment		4,217,485			5,378,138			1,195,572			720,673			1,400,042			12,911,910
	$	7,548,922		$	9,087,315		$	1,530,572		$	748,028		$	1,449,819		$	20,364,656

Loans/leases individually evaluated for impairment	$	8,824,670		$	24,770,032		$	1,765,090		$	1,286,277		$	1,611,098		$	38,257,167
Loans/leases collectively evaluated for impairment		356,800,601			528,947,232			81,244,557			80,910,345			84,628,846			1,132,531,581
	$	365,625,271		$	553,717,264		$	83,009,647		$	82,196,622		$	86,239,944		$	1,170,788,748

Allowance as a percentage of loans/leases individually evaluated for impairment		37.75	%		14.97	%		18.98	%		2.13	%		3.09	%		19.48	%
Allowance as a percentage of loans/leases collectively evaluated for impairment		1.18	%		1.02	%		1.47	%		0.89	%		1.65	%		1.14	%
Total allowance as a percentage of total loans/leaess		2.06	%		1.64	%		1.84	%		0.91	%		1.68	%		1.74	%

Further information for impaired loans/leases is presented in the tables following. The recorded investment represents customer balances net of any partial charge-offs recognized on the loan/lease. The unpaid principal balance represents the recorded balance outstanding on the loan/lease prior to any partial charge-offs.

Loans/leases, by classes of financing receivable, considered to be impaired as of and for the year ended December 31, 2011 and 2010 is presented as follows:

	2011
Classes of Loans/Leases	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized for Cash Payments Received

Impaired Loans/Leases with No Specific Allowance Recorded:
Commercial and Industrial	$	360,947	$	979,901	$	-	$	3,873,371	$	-	$	-
Commercial Real Estate
Owner-Occupied Commercial Real Estate		736,610		736,610		-		1,909,754		-		-
Commercial Construction, Land Development, and Other Land		-		-		-		2,979,950		-		-
Other Non Owner-Occupied Commercial Real Estate		3,936,826		3,986,820		-		5,568,776		-		-
Direct Financing Leases		1,094,178		1,094,178		-		1,487,570		81,921		81,921
Residential Real Estate		788,685		862,298		-		892,480		-		-
Installment and Other Consumer		593,987		593,987		-		821,889		-		-
	$	7,511,233	$	8,253,794	$	-	$	17,533,790	$	81,921	$	81,921

Impaired Loans/Leases with Specific Allowance Recorded:
Commercial and Industrial	$	1,791,908	$	1,791,908	$	903,187	$	1,175,105	$	36,984	$	36,984
Commercial Real Estate
Owner-Occupied Commercial Real Estate		217,059		217,059		47,911		121,201		-		-
Commercial Construction, Land Development, and Other Land		9,051,455		9,051,455		3,002,450		4,334,241		16,249		16,249
Other Non Owner-Occupied Commercial Real Estate		10,339,415		10,839,415		1,247,377		5,595,044		11,623		11,623
Direct Financing Leases		212,485		212,485		66,675		138,127		5,244		5,244
Residential Real Estate		344,789		344,789		55,884		282,020		-		-
Installment and Other Consumer		390,819		390,819		22,819		51,871		-		-
	$	22,347,930	$	22,847,930	$	5,346,303	$	11,697,609	$	70,100	$	70,100

Total Impaired Loans/Leases:
Commercial and Industrial	$	2,152,855	$	2,771,809	$	903,187	$	5,048,476	$	36,984	$	36,984
Commercial Real Estate
Owner-Occupied Commercial Real Estate		953,669		953,669		47,911		2,030,955		-		-
Commercial Construction, Land Development, and Other Land		9,051,455		9,051,455		3,002,450		7,314,191		16,249		16,249
Other Non Owner-Occupied Commercial Real Estate		14,276,241		14,826,235		1,247,377		11,163,820		11,623		11,623
Direct Financing Leases		1,306,663		1,306,663		66,675		1,625,697		87,165		87,165
Residential Real Estate		1,133,474		1,207,087		55,884		1,174,500		-		-
Installment and Other Consumer		984,806		984,806		22,819		873,760		-		-
	$	29,859,163	$	31,101,724	$	5,346,303	$	29,231,399	$	152,021	$	152,021

	2010
Classes of Loans/Leases	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized for Cash Payments Received

Impaired Loans/Leases with No Specific Allowance Recorded:
Commercial and Industrial	$	1,459,790	$	3,350,036	$	-	$	1,782,357	$	-	$	-
Commercial Real Estate
Owner-Occupied Commercial Real Estate		681,727		681,727		-		553,012		-		-
Commercial Construction, Land Development, and Other Land		2,538,621		2,872,083		-		1,530,324		-		-
Other Non Owner-Occupied Commercial Real Estate		2,942,189		3,792,226		-		1,478,956		-		-
Direct Financing Leases		953,994		953,994		-		1,080,564		27,089		27,089
Residential Real Estate		758,031		758,031		-		721,757		-		-
Installment and Other Consumer		1,561,322		1,561,322		-		569,542		11,825		11,825
	$	10,895,674	$	13,969,419	$	-	$	7,716,512	$	38,914	$	38,914

Impaired Loans/Leases with Specific Allowance Recorded:
Commercial and Industrial	$	7,364,880	$	7,866,634	$	3,331,436	$	5,962,381	$	19,891	$	19,891
Commercial Real Estate
Owner-Occupied Commercial Real Estate		1,074,210		1,074,210		232,194		847,507		45,641		45,641
Commercial Construction, Land Development, and Other Land		7,660,458		7,660,458		1,818,193		9,263,675		3,832		3,832
Other Non Owner-Occupied Commercial Real Estate		9,872,826		10,091,777		1,658,791		9,393,250		235,366		235,366
Direct Financing Leases		811,096		811,096		335,000		663,697		-		-
Residential Real Estate		528,246		528,246		27,355		565,051		-		-
Installment and Other Consumer		49,777		49,777		49,777		432,460		-		-
	$	27,361,493	$	28,082,198	$	7,452,746	$	27,128,021	$	304,730	$	304,730

Total Impaired Loans/Leases:
Commercial and Industrial	$	8,824,670	$	11,216,670	$	3,331,436	$	7,744,738	$	19,891	$	19,891
Commercial Real Estate
Owner-Occupied Commercial Real Estate		1,755,937		1,755,937		232,194		1,400,519		45,641		45,641
Commercial Construction, Land Development, and Other Land		10,199,079		10,532,541		1,818,193		10,793,999		3,832		3,832
Other Non Owner-Occupied Commercial Real Estate		12,815,015		13,884,003		1,658,791		10,872,206		235,366		235,366
Direct Financing Leases		1,765,090		1,765,090		335,000		1,744,261		27,089		27,089
Residential Real Estate		1,286,277		1,286,277		27,355		1,286,808		-		-
Installment and Other Consumer		1,611,099		1,611,099		49,777		1,002,002		11,825		11,825
	$	38,257,167	$	42,051,617	$	7,452,746	$	34,844,533	$	343,644	$	343,644

Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management’s current estimates.

Information for impaired loans/leases for the year ended December 31, 2009 is as follows:

	2009
Classes of Loans/Leases	Average Recorded Investment		Interest Income Recognized		Interest Income Recognized for Cash Payments Received

Impaired Loans/Leases with No Specific Allowance Recorded:
Commercial and Industrial	$	606,372	$	248	$	248
Commercial Real Estate
Owner-Occupied Commercial Real Estate		26,587		-		-
Commercial Construction, Land Development, and Other Land		124,287		-		-
Other Non Owner-Occupied Commercial Real Estate		573,625		-		-
Direct Financing Leases		1,838,432		-		-
Residential Real Estate		83,274		-		-
Installment and Other Consumer		39,385		-		-
	$	3,291,962	$	248	$	248

Impaired Loans/Leases with Specific Allowance Recorded:
Commercial and Industrial	$	6,956,591	$	88,098	$	88,098
Commercial Real Estate
Owner-Occupied Commercial Real Estate		1,167,323		36,153		36,153
Commercial Construction, Land Development, and Other Land		10,119,734		-		-
Other Non Owner-Occupied Commercial Real Estate		1,649,138		-		-
Direct Financing Leases		216,591		-		-
Residential Real Estate		197,468		-		-
Installment and Other Consumer		586,584		-		-
	$	20,893,429	$	124,251	$	124,251

Total Impaired Loans/Leases:
Commercial and Industrial	$	7,562,963	$	88,346	$	88,346
Commercial Real Estate
Owner-Occupied Commercial Real Estate		1,193,910		36,153		36,153
Commercial Construction, Land Development, and Other Land		10,244,021		-		-
Other Non Owner-Occupied Commercial Real Estate		2,222,763		-		-
Direct Financing Leases		2,055,023		-		-
Residential Real Estate		280,742		-		-
Installment and Other Consumer		625,969		-		-
	$	24,185,391	$	124,499	$	124,499

For each class of financing receivable, the following presents the recorded investment by credit quality indicator as of December 31, 2011 and 2010:

	2011
			Commercial Real Estate
					Non Owner-Occupied
Internally Assigned Risk Rating	Commercial and Industrial		Owner-Occupied Commercial Real Estate		Commercial Construction, Land Development, and Other Land		Other Commercial Real Estate		Total

Pass (Ratings 1 through 5)	$	324,225,905	$	158,955,618	$	46,268,554	$	310,401,972	$	839,852,049
Special Mention (Rating 6)		8,814,497		2,700,496		764,586		13,754,798		26,034,377
Substandard (Rating 7)		17,753,876		6,134,507		13,351,598		25,471,721		62,711,702
Doubtful (Rating 8)		-		-		-		-		-
	$	350,794,278	$	167,790,621	$	60,384,738	$	349,628,491	$	928,598,128

		2011
Delinquency Status *			Direct Financing Leases		Residential Real Estate		Installment and Other Consumer		Total

Performing			$	91,905,699	$	96,973,576	$	77,126,064	$	266,005,339
Nonperforming				1,306,663		1,133,475		1,097,016		3,537,154
			$	93,212,362	$	98,107,051	$	78,223,080	$	269,542,493

*Performing = loans/leases accruing and less than 90 days past due. Nonperforming = loans/leases on nonaccrual, accruing loans/leases that are greater than or equal to 90 days past due, and accruing troubled debt restructurings.

	2010
			Commercial Real Estate
					Non Owner-Occupied
Internally Assigned Risk Rating	Commercial and Industrial		Owner-Occupied Commercial Real Estate		Commercial Construction, Land Development, and Other Land		Other Commercial Real Estate		Total

Pass (Ratings 1 through 5)	$	327,875,886	$	120,271,507	$	43,881,561	$	308,631,488	$	800,660,442
Special Mention (Rating 6)		10,457,805		7,510,519		10,338,187		15,244,142		43,550,653
Substandard (Rating 7)		27,270,474		13,629,001		11,309,310		22,901,549		75,110,334
Doubtful (Rating 8)		21,106		-		-		-		21,106
	$	365,625,271	$	141,411,027	$	65,529,058	$	346,777,179	$	919,342,535

	2010
Delinquency Status *			Direct Financing Leases		Residential Real Estate		Installment and Other Consumer		Total

Performing			$	81,244,557	$	80,786,788	$	84,498,129	$	246,529,474
Nonperforming				1,765,090		1,409,834		1,741,815		4,916,739
			$	83,009,647	$	82,196,622	$	86,239,944	$	251,446,213

For commercial and industrial and commercial real estate loans, the Company’s credit quality indicator is internally assigned risk ratings. Each commercial loan is assigned a risk rating upon origination. The risk rating is reviewed every 15 months, at a minimum, and on as needed basis depending on the specific circumstances of the loan. See Note 1 for further discussion on the Company’s risk ratings.

For direct financing leases, residential real estate loans, and installment and other consumer loans, the Company’s credit quality indicator is performance determined by delinquency status. Delinquency status is updated daily by the Company’s loan system.

As of December 31, 2011 and 2010, troubled debt restructurings totaled $20,526,457 and $16,036,789, respectively.

As a result of adopting ASU 2011-02, the Company reassessed all loan/lease modifications that occurred on or after January 1, 2011 for identification as troubled debt restructurings. The Company identified no additional loans/leases as troubled debt restructurings.

For each class of financing receivable, the following presents the number and recorded investment of troubled debt restructurings, by type of concession, that were restructured during the year ended December 31, 2011.

Classes of Loans/Leases	Number of Loans/Leases		Pre-Modification Recorded Investment		Post-Modification Recorded Investment		Specific Allowance

CONCESSION - Extension of maturity
Other Non Owner-Occupied Commercial Real Estate		1	$	2,851,134	$	2,851,134	$	-

CONCESSION - Significant payment delay
Commercial and Industrial		4	$	1,175,819	$	1,175,819	$	-
Other Non Owner-Occupied Commercial Real Estate		2		4,309,589		4,309,589		308,254
Direct Financing Leases		2		633,621		633,621		-
Installment and Other Consumer		1		187,650		187,650		125,928
		9	$	6,306,679	$	6,306,679	$	434,182

CONCESSION - Interest rate adjusted below market
Commercial Construction, Land Development, and Other Land		5	$	6,549,376	$	6,549,376	$	2,203,438

TOTAL		15	$	15,707,189	$	15,707,189	$	2,637,620

Of the troubled debt restructurings reported above, five with post-modification recorded investments totaling $4,480,398 were on nonaccrual. None of the troubled debt restructurings reported above had partial charge-offs.

For the year ended December 31, 2011, none of the Company’s troubled debt restructurings had redefaulted within 12 months subsequent to restructure where default is defined as delinquency of 90 days or more and/or placement on nonaccrual status.

Loans are made in the normal course of business to directors, executive officers, and their related interests. The terms of these loans, including interest rates and collateral, are similar to those prevailing for comparable transactions with other persons. An analysis of the changes in the aggregate committed amount of loans greater than or equal to $60,000 during the years ended December 31, 2011, 2010, and 2009, was as follows:

	2011			2010			2009

Balance, beginning	$	20,796,427		$	25,532,422		$	26,400,842
Net decrease due to change in related parties		(235,000	)		(9,306,435	)		(47,727	)
Advances		10,674,567			13,576,200			5,451,123
Repayments		(12,080,452	)		(9,005,760	)		(6,271,816	)
Balance, ending	$	19,155,542		$	20,796,427		$	25,532,422

The Company’s loan portfolio includes a geographic concentration in the Midwest. Additionally, the loan portfolio includes a concentration of loans in certain industries as of December 31, 2011 and 2010 as follows:

	2011					2010
Industry Name	Balance		Percentage of Total Loans/Leases			Balance		Percentage of Total Loans/Leases

Lessors of Non-Residential Buildings	$	179,510,937		15	%	$	154,426,911		13	%
Lessors of Residential Buildings		50,029,069		4	%		52,582,470		4	%
Bank Holding Companies		38,046,779		3	%		42,148,505		4	%