XML 50 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
Loans, Net (Tables)
 9 Months Ended
Sep. 30, 2014
Receivables [Abstract]  
Consolidated loan portfolio
The consolidated loan portfolio was composed of the following:
 
September 30, 2014
 
December 31, 2013
(Dollars in thousands)
Outstanding
Balance
 
Percent of
Total Portfolio
 
Outstanding
Balance
 
Percent of
Total Portfolio
Real estate loans:
 
 
 
 
 
 
 
Construction
$
32,057

 
4.4
%
 
$
36,025

 
5.0
%
Secured by farmland
17,332

 
2.4

 
16,578

 
2.3

Secured by 1-4 family residential
267,216

 
36.7

 
273,384

 
37.5

Other real estate loans
254,686

 
34.9

 
260,333

 
35.7

Commercial loans
140,555

 
19.3

 
129,554

 
17.8

Consumer loans
16,906

 
2.3

 
12,606

 
1.7

Total Gross Loans (1)
$
728,752

 
100.0
%
 
$
728,480

 
100.0
%
Less allowance for loan losses
11,423

 
 

 
13,320

 
 
Net loans
$
717,329

 
 

 
$
715,160

 
 

(1) 
Gross loan balances at September 30, 2014 and December 31, 2013 are net of deferred loan costs of $2.7 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:
 
September 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
$
—

 
$
—

 
$
76

 
$
76

 
$
31,981

 
$
32,057

Secured by farmland
—

 
—

 
—

 
—

 
17,332

 
17,332

Secured by 1-4 family residential
629

 
—

 
748

 
1,377

 
265,839

 
267,216

Other real estate loans
—

 
—

 
—

 
—

 
254,686

 
254,686

Commercial loans
650

 
—

 
328

 
978

 
139,577

 
140,555

Consumer loans
1

 
1

 
3

 
5

 
16,901

 
16,906

Total
$
1,280

 
$
1

 
$
1,155

 
$
2,436

 
$
726,316

 
$
728,752


 
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:
 
September 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
$
258

 
$
—

 
$
2,368

 
$
268

Secured by 1-4 family residential
5,265

 
—

 
9,458

 
539

Other real estate loans
1,507

 
—

 
6,045

 
—

Commercial loans
299

 
30

 
1,844

 
—

Consumer loans
3

 
—

 
37

 
1

Total
$
7,332

 
$
30

 
$
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:
September 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
$
24,637

 
$
8,824

 
$
256,919

 
$
230,626

 
$
136,787

 
$
13,853

 
$
671,646

Special Mention
6,818

 
7,903

 
2,012

 
16,618

 
3,129

 
24

 
36,504

Substandard
602

 
605

 
7,740

 
7,442

 
389

 
3,026

 
19,804

Doubtful
—

 
—

 
545

 
—

 
250

 
3

 
798

Loss
—

 
—

 
—

 
—

 
—

 
—

 
—

Ending Balance
$
32,057

 
$
17,332

 
$
267,216

 
$
254,686

 
$
140,555

 
$
16,906

 
$
728,752


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:
 
September 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
$
140

 
$
140

 
$
—

 
$
172

 
$
—

Secured by farmland
—

 
—

 
—

 
—

 
—

Secured by 1-4 family residential
2,061

 
2,190

 
—

 
2,169

 
26

Other real estate loans
3,325

 
3,325

 
—

 
3,373

 
104

Commercial loans
451

 
451

 
—

 
456

 
18

Consumer loans
—

 
—

 
—

 
—

 
—

Total with no related allowance
$
5,977

 
$
6,106

 
$
—

 
$
6,170

 
$
148

With an allowance recorded:
 

 
 

 
 

 
 

 
 

Real estate loans:
 

 
 

 
 

 
 

 
 

Construction
$
119

 
$
119

 
$
69

 
$
125

 
$
—

Secured by farmland
—

 
—

 
—

 
—

 
—

Secured by 1-4 family residential
3,965

 
4,017

 
1,141

 
3,978

 
12

Other real estate loans
1,253

 
1,253

 
305

 
1,266

 
69

Commercial loans
421

 
421

 
309

 
794

 
8

Consumer loans
3,003

 
3,003

 
630

 
3,002

 
128

Total with a related allowance
$
8,761

 
$
8,813

 
$
2,454

 
$
9,165

 
$
217

Total
$
14,738

 
$
14,919

 
$
2,454

 
$
15,335

 
$
365

 
 
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 and nine months ended September 30, 2014 and 2013 were as follows:

 
 
For the Three Months Ended September 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
 
—

 
—

 
—

 
—

   Other real estate loans
 
1

 
91

 
—

 
—

Total real estate loans
 
1

 
$
91

 
—

 
$
—

Commercial loans
 
1

 
49

 
—

 
—

Consumer loans
 
—

 
—

 
—

 
—

Total
 
2

 
$
140

 
—

 
$
—


 
 
For the Nine Months Ended September 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
 
—

 
—

 
1

 
712

   Other real estate loans
 
1

 
91

 
—

 
—

Total real estate loans
 
1

 
$
91

 
1

 
$
712

Commercial loans
 
1

 
49

 
—

 
—

Consumer loans
 
—

 
—

 
—

 
—

Total
 
2

 
$
140

 
1

 
$
712

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

 
$
45

 
$
41

   Secured by farmland
 
—

 
—

 
—

 
—

 
—

 
—

   Secured by 1-4 family residential
 
—

 
—

 
—

 
6

 
2,300

 
1,986

   Other real estate loans
 
—

 
—

 
—

 
3

 
701

 
676

Total real estate loans
 
—

 
$
—

 
$
—

 
10

 
$
3,046

 
$
2,703

Commercial loans
 
—

 
—

 
—

 
1

 
50

 
49

Consumer loans
 
—

 
—

 
—

 
—

 
—

 
—

Total
 
—

 
$
—

 
$
—

 
11

 
$
3,096

 
$
2,752


 
 
Loans Modified as TDRs
 
 
For the Nine Months Ended September 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
 
—

 
$
—

 
$
—

 
2

 
$
557

 
$
514

   Secured by farmland
 
—

 
—

 
—

 
—

 
—

 
—

   Secured by 1-4 family residential
 
4

 
1,190

 
1,142

 
11

 
3,549

 
3,227

   Other real estate loans
 
1

 
200

 
173

 
5

 
869

 
824

Total real estate loans
 
5

 
$
1,390

 
$
1,315

 
18

 
$
4,975

 
$
4,565

Commercial loans
 
—

 
—

 
—

 
2

 
517

 
515

Consumer loans
 
—

 
—

 
—

 
—

 
—

 
—

Total
 
5

 
$
1,390

 
$
1,315

 
20

 
$
5,492

 
$
5,080