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Loans, Net (Tables)
 3 Months Ended
Mar. 31, 2014
Receivables [Abstract]  
Consolidated loan portfolio
The consolidated loan portfolio was composed of the following:
 
March 31, 2014
 
December 31, 2013
(Dollars in thousands)
Outstanding
Balance
 
Percent of
Total Portfolio
 
Outstanding
Balance
 
Percent of
Total Portfolio
Real estate loans:
 
 
 
 
 
 
 
Construction
$
34,977

 
4.8
%
 
$
36,025

 
5.0
%
Secured by farmland
17,738

 
2.4

 
16,578

 
2.3

Secured by 1-4 family residential
274,566

 
37.5

 
273,384

 
37.5

Other real estate loans
265,993

 
36.4

 
260,333

 
35.7

Commercial loans
125,395

 
17.1

 
129,554

 
17.8

Consumer loans
12,795

 
1.8

 
12,606

 
1.7

Total Gross Loans (1)
$
731,464

 
100.00
%
 
$
728,480

 
100.00
%
Less allowance for loan losses
13,228

 
 

 
13,320

 
 
Net loans
$
718,236

 
 

 
$
715,160

 
 

(1) 
Gross loan balances at March 31, 2014 and December 31, 2013 are net of deferred loan costs of $2.2 million and $2.4 million, respectively.
Past due loans by class of loans
The following tables present a contractual aging of the recorded investment in past due loans by class of loans:
 
March 31, 2014
(Dollars in thousands)
30-59 Days Past Due
 
60-89 Days Past Due
 
90 Days Or Greater
 
Total Past Due
 
Current
 
Total Loans
Real estate loans:
 
 
 
 
 
 
 
 
 
 
 
Construction
$
170

 
$
93

 
$
1,821

 
$
2,084

 
$
32,893

 
$
34,977

Secured by farmland
—

 
—

 
—

 
—

 
17,738

 
17,738

Secured by 1-4 family residential
2,675

 
1,241

 
4,213

 
8,129

 
266,437

 
274,566

Other real estate loans
1,096

 
287

 
1,043

 
2,426

 
263,567

 
265,993

Commercial loans
95

 
49

 
1,490

 
1,634

 
123,761

 
125,395

Consumer loans
7

 
—

 
41

 
48

 
12,747

 
12,795

Total
$
4,043

 
$
1,670

 
$
8,608

 
$
14,321

 
$
717,143

 
$
731,464


 
December 31, 2013
(Dollars in thousands)
30-59 Days Past Due
 
60-89 Days Past Due
 
90 Days Or Greater
 
Total Past Due
 
Current
 
Total Loans
Real estate loans:
 
 
 
 
 
 
 
 
 
 
 
Construction
$
76

 
$
1,649

 
$
554

 
$
2,279

 
$
33,746

 
$
36,025

Secured by farmland
—

 
—

 
—

 
—

 
16,578

 
16,578

Secured by 1-4 family residential
590

 
3,751

 
1,022

 
5,363

 
268,021

 
273,384

Other real estate loans
116

 
—

 
4,197

 
4,313

 
256,020

 
260,333

Commercial loans
162

 
1,513

 
27

 
1,702

 
127,852

 
129,554

Consumer loans
31

 
9

 
38

 
78

 
12,528

 
12,606

Total
$
975

 
$
6,922

 
$
5,838

 
$
13,735

 
$
714,745

 
$
728,480


The following table presents the recorded investment in nonaccrual loans and loans past due 90 days or more and still accruing by class of loans:
 
March 31, 2014
 
December 31, 2013
(Dollars in thousands)
Nonaccrual
 
Past due 90 days or more and still accruing
 
Nonaccrual
 
Past due 90 days or more and still accruing
Real estate loans:
 
 
 
 
 
 
 
Construction
$
2,234

 
$
268

 
$
2,368

 
$
268

Secured by 1-4 family residential
7,771

 
227

 
9,458

 
539

Other real estate loans
3,069

 
—

 
6,045

 
—

Commercial loans
1,765

 
4

 
1,844

 
—

Consumer loans
37

 
4

 
37

 
1

Total
$
14,876

 
$
503

 
$
19,752

 
$
808
Summary of loan classifications by class of loan
The following tables present the recorded investment in loans by class of loan that have been classified according to the internal classification system:
March 31, 2014
(Dollars in thousands)
Real Estate Construction
 
Real Estate Secured by Farmland
 
Real Estate Secured by 1-4 Family Residential
 
Other Real Estate Loans
 
Commercial
 
Consumer
 
Total
Pass
$
24,936

 
$
9,228

 
$
256,869

 
$
247,534

 
$
122,258

 
$
12,723

 
$
673,548

Special Mention
2,222

 
7,903

 
1,852

 
9,410

 
698

 
15

 
22,100

Substandard
7,302

 
607

 
14,832

 
9,025

 
2,350

 
20

 
34,136

Doubtful
517

 
—

 
1,013

 
24

 
89

 
37

 
1,680

Loss
—

 
—

 
—

 
—

 
—

 
—

 
—

Ending Balance
$
34,977

 
$
17,738

 
$
274,566

 
$
265,993

 
$
125,395

 
$
12,795

 
$
731,464


December 31, 2013
(Dollars in thousands)
Real Estate Construction
 
Real Estate Secured by Farmland
 
Real Estate Secured by 1-4 Family Residential
 
Other Real Estate Loans
 
Commercial
 
Consumer
 
Total
Pass
$
31,143

 
$
8,067

 
$
253,654

 
$
238,811

 
$
126,246

 
$
12,510

 
$
670,431

Special Mention
2,245

 
7,903

 
1,732

 
9,475

 
775

 
15

 
22,145

Substandard
2,090

 
608

 
16,158

 
12,047

 
2,419

 
44

 
33,366

Doubtful
547

 
—

 
1,840

 
—

 
114

 
37

 
2,538

Loss
—

 
—

 
—

 
—

 
—

 
—

 
—

Ending Balance
$
36,025

 
$
16,578

 
$
273,384

 
$
260,333

 
$
129,554

 
$
12,606

 
$
728,480
Loans identified as impaired by class of loan
The following tables present loans individually evaluated for impairment by class of loan:
 
March 31, 2014
(Dollars in thousands)
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average Recorded Investment
 
Interest Income Recognized
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Real estate loans:
 
 
 
 
 
 
 
 
 
Construction
$
1,915

 
$
2,466

 
$
—

 
$
1,785

 
$
2

Secured by farmland
—

 
—

 
—

 
—

 
—

Secured by 1-4 family residential
3,323

 
3,741

 
—

 
3,355

 
4

Other real estate loans
4,862

 
4,862

 
—

 
4,881

 
26

Commercial loans
2,084

 
2,084

 
—

 
2,100

 
4

Consumer loans
—

 
—

 
—

 
—

 
—

Total with no related allowance
$
12,184

 
$
13,153

 
$
—

 
$
12,121

 
$
36

With an allowance recorded:
 

 
 

 
 

 
 

 
 

Real estate loans:
 

 
 

 
 

 
 

 
 

Construction
$
5,904

 
$
5,904

 
$
1,300

 
$
5,927

 
$
66

Secured by farmland
—

 
—

 
—

 
—

 
—

Secured by 1-4 family residential
5,467

 
5,519

 
2,401

 
5,478

 
11

Other real estate loans
1,294

 
1,294

 
305

 
1,299

 
17

Commercial loans
289

 
310

 
215

 
296

 
2

Consumer loans
37

 
37

 
37

 
37

 
—

Total with a related allowance
$
12,991

 
$
13,064

 
$
4,258

 
$
13,037

 
$
96

Total
$
25,175

 
$
26,217

 
$
4,258

 
$
25,158

 
$
132

 
 
December 31, 2013
(Dollars in thousands)
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average Recorded Investment
 
Interest Income Recognized
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Real estate loans:
 
 
 
 
 
 
 
 
 
Construction
$
1,924

 
$
2,475

 
$
—

 
$
1,975

 
$
13

Secured by farmland
—

 
—

 
—

 
—

 
—

Secured by 1-4 family residential
3,930

 
4,452

 
—

 
4,415

 
6

Other real estate loans
4,458

 
4,458

 
—

 
4,552

 
104

Commercial loans
2,115

 
2,115

 
—

 
2,267

 
—

Consumer loans
—

 
—

 
—

 
—

 
—

Total with no related allowance
$
12,427

 
$
13,500

 
$
—

 
$
13,209

 
$
123

With an allowance recorded:
 

 
 

 
 

 
 

 
 

Real estate loans:
 

 
 

 
 

 
 

 
 

Construction
$
712

 
$
712

 
$
486

 
$
878

 
$
—

Secured by farmland
—

 
—

 
—

 
—

 
—

Secured by 1-4 family residential
6,481

 
6,428

 
3,045

 
6,632

 
47

Other real estate loans
4,684

 
4,684

 
812

 
4,840

 
71

Commercial loans
355

 
377

 
275

 
399

 
10

Consumer loans
37

 
37

 
37

 
39

 
—

Total with a related allowance
$
12,269

 
$
12,238

 
$
4,655

 
$
12,788

 
$
128

Total
$
24,696

 
$
25,738

 
$
4,655

 
$
25,997

 
$
251
Loans modified in TDR by class of loan
TDR payment defaults during three months ended March 31, 2014 and 2013 were as follows:
 
 
For the Three Months Ended March 31,
(Dollars in thousands)
 
2014
 
2013
Class of Loan
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
Real estate loans:
 
 
 
 
 
 
 
 
   Construction
 
—

 
$
—

 
1

 
$
106

   Secured by farmland
 
—

 
—

 
—

 
—

   Secured by 1-4 family residential
 
3

 
297

 
2

 
856

   Other real estate loans
 
—

 
—

 
—

 
—

Total real estate loans
 
3

 
$
297

 
3

 
$
962

Commercial loans
 
—

 
—

 
1

 
55

Consumer loans
 
—

 
—

 
—

 
—

Total
 
3

 
$
297

 
4

 
$
1,017

Loan modifications that were classified as TDRs during the three months ended March 31, 2014 and 2013 were as follows:
 
 
Loans Modified as TDRs
 
 
For the Three Months Ended March 31,
(Dollars in thousands)
 
2014
 
2013
Class of Loan
 
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
Real estate loans:
 
 
 
 
 
 
 
 
 
 
 
 
   Construction
 
—

 
$
—

 
$
—

 
—

 
$
—

 
$
—

   Secured by farmland
 
—

 
—

 
—

 
—

 
—

 
—

   Secured by 1-4 family residential
 
3

 
781

 
733

 
1

 
48

 
48

   Other real estate loans
 
1

 
200

 
173

 
2

 
168

 
148

Total real estate loans
 
4

 
$
981

 
$
906

 
3

 
$
216

 
$
196

Commercial loans
 
—

 
—

 
—

 
—

 
—

 
—

Consumer loans
 
—

 
—

 
—

 
—

 
—

 
—

Total
 
4

 
$
981

 
$
906

 
3

 
$
216

 
$
196