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Loans, Net (Tables)
 6 Months Ended
Jun. 30, 2014
Receivables [Abstract]  
Consolidated loan portfolio
The consolidated loan portfolio was composed of the following:
 
June 30, 2014
 
December 31, 2013
(Dollars in thousands)
Outstanding
Balance
 
Percent of
Total Portfolio
 
Outstanding
Balance
 
Percent of
Total Portfolio
Real estate loans:
 
 
 
 
 
 
 
Construction
$
29,378

 
4.0
%
 
$
36,025

 
5.0
%
Secured by farmland
17,414

 
2.4

 
16,578

 
2.3

Secured by 1-4 family residential
271,735

 
37.4

 
273,384

 
37.5

Other real estate loans
264,933

 
36.4

 
260,333

 
35.7

Commercial loans
127,231

 
17.5

 
129,554

 
17.8

Consumer loans
16,415

 
2.3

 
12,606

 
1.7

Total Gross Loans (1)
$
727,106

 
100.00
%
 
$
728,480

 
100.00
%
Less allowance for loan losses
11,508

 
 

 
13,320

 
 
Net loans
$
715,598

 
 

 
$
715,160

 
 

(1) 
Gross loan balances at June 30, 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:
 
June 30, 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
$
—

 
$
—

 
$
1,889

 
$
1,889

 
$
27,489

 
$
29,378

Secured by farmland
—

 
—

 
—

 
—

 
17,414

 
17,414

Secured by 1-4 family residential
827

 
71

 
4,020

 
4,918

 
266,817

 
271,735

Other real estate loans
51

 
—

 
219

 
270

 
264,663

 
264,933

Commercial loans
—

 
259

 
1,527

 
1,786

 
125,445

 
127,231

Consumer loans
4

 
4

 
17

 
25

 
16,390

 
16,415

Total
$
882

 
$
334

 
$
7,672

 
$
8,888

 
$
718,218

 
$
727,106


 
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:
 
June 30, 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
$
1,783

 
$
344

 
$
2,368

 
$
268

Secured by 1-4 family residential
5,135

 
—

 
9,458

 
539

Other real estate loans
1,568

 
—

 
6,045

 
—

Commercial loans
1,911

 
5

 
1,844

 
—

Consumer loans
11

 
6

 
37

 
1

Total
$
10,408

 
$
355

 
$
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:
June 30, 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
$
20,305

 
$
8,904

 
$
261,694

 
$
241,372

 
$
121,602

 
$
16,357

 
$
670,234

Special Mention
6,946

 
7,903

 
2,718

 
16,039

 
3,109

 
31

 
36,746

Substandard
2,127

 
607

 
6,936

 
7,522

 
2,270

 
16

 
19,478

Doubtful
—

 
—

 
387

 
—

 
250

 
11

 
648

Loss
—

 
—

 
—

 
—

 
—

 
—

 
—

Ending Balance
$
29,378

 
$
17,414

 
$
271,735

 
$
264,933

 
$
127,231

 
$
16,415

 
$
727,106


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:
 
June 30, 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
$
1,622

 
$
2,174

 
$
—

 
$
1,864

 
$
—

Secured by farmland
—

 
—

 
—

 
—

 
—

Secured by 1-4 family residential
2,028

 
2,445

 
—

 
2,390

 
28

Other real estate loans
3,385

 
3,385

 
—

 
3,470

 
104

Commercial loans
2,067

 
2,067

 
—

 
2,090

 
—

Consumer loans
—

 
—

 
—

 
15

 
—

Total with no related allowance
$
9,102

 
$
10,071

 
$
—

 
$
9,829

 
$
132

With an allowance recorded:
 

 
 

 
 

 
 

 
 

Real estate loans:
 

 
 

 
 

 
 

 
 

Construction
$
504

 
$
504

 
$
111

 
$
3,175

 
$
150

Secured by farmland
—

 
—

 
—

 
—

 
—

Secured by 1-4 family residential
3,871

 
3,923

 
1,993

 
3,879

 
12

Other real estate loans
1,260

 
1,260

 
312

 
1,269

 
69

Commercial loans
436

 
436

 
217

 
802

 
8

Consumer loans
11

 
11

 
11

 
9

 
—

Total with a related allowance
$
6,082

 
$
6,134

 
$
2,644

 
$
9,134

 
$
239

Total
$
15,184

 
$
16,205

 
$
2,644

 
$
18,963

 
$
371

 
 
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
Loan modifications that were classified as TDRs during the three and six months ended June 30, 2014 and 2013 were as follows:
 
 
Loans Modified as TDRs
 
 
For the Three Months Ended June 30,
(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
 
—

 
$
—

 
$
—

 
1

 
$
512

 
$
473

   Secured by farmland
 
—

 
—

 
—

 
—

 
—

 
—

   Secured by 1-4 family residential
 
1

 
409

 
409

 
5

 
1,394

 
1,387

   Other real estate loans
 
—

 
—

 
—

 
—

 
—

 
—

Total real estate loans
 
1

 
$
409

 
$
409

 
6

 
$
1,906

 
$
1,860

Commercial loans
 
—

 
—

 
—

 
1

 
466

 
466

Consumer loans
 
—

 
—

 
—

 
—

 
—

 
—

Total
 
1

 
$
409

 
$
409

 
7

 
$
2,372

 
$
2,326


 
 
Loans Modified as TDRs
 
 
For the Six Months Ended June 30,
(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
 
—

 
$
—

 
$
—

 
1

 
$
512

 
$
473

   Secured by farmland
 
—

 
—

 
—

 
—

 
—

 
—

   Secured by 1-4 family residential
 
4

 
1,190

 
1,142

 
6

 
1,445

 
1,433

   Other real estate loans
 
1

 
200

 
173

 
2

 
168

 
143

Total real estate loans
 
5

 
$
1,390

 
$
1,315

 
9

 
$
2,125

 
$
2,049

Commercial loans
 
—

 
—

 
—

 
1

 
466

 
466

Consumer loans
 
—

 
—

 
—

 
—

 
—

 
—

Total
 
5

 
$
1,390

 
$
1,315

 
10

 
$
2,591

 
$
2,515

TDR payment defaults during three and six months ended June 30, 2014 and 2013 were as follows:

 
 
For the Three Months Ended June 30,
(Dollars in thousands)
 
2014
 
2013
Class of Loan
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
Real estate loans:
 
 
 
 
 
 
 
 
   Construction
 
—

 
$
—

 
—

 
$
—

   Secured by farmland
 
—

 
—

 
—

 
—

   Secured by 1-4 family residential
 
2

 
200

 
2

 
852

   Other real estate loans
 
1

 
94

 
—

 
—

Total real estate loans
 
3

 
$
294

 
2

 
$
852

Commercial loans
 
1

 
49

 
1

 
34

Consumer loans
 
—

 
—

 
—

 
—

Total
 
4

 
$
343

 
3

 
$
886


 
 
For the Six Months Ended June 30,
(Dollars in thousands)
 
2014
 
2013
Class of Loan
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
Real estate loans:
 
 
 
 
 
 
 
 
   Construction
 
—

 
$
—

 
1

 
$
102

   Secured by farmland
 
—

 
—

 
—

 
—

   Secured by 1-4 family residential
 
4

 
376

 
2

 
852

   Other real estate loans
 
1

 
94

 
—

 
—

Total real estate loans
 
5

 
$
470

 
3

 
$
954

Commercial loans
 
1

 
49

 
1

 
34

Consumer loans
 
—

 
—

 
—

 
—

Total
 
6

 
$
519

 
4

 
$
988