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Loans, Net (Tables)
 6 Months Ended
Jun. 30, 2015
Receivables [Abstract]  
Consolidated loan portfolio
The consolidated loan portfolio was composed of the following:
 
June 30, 2015
 
December 31, 2014
(Dollars in thousands)
Outstanding
Balance
 
Percent of
Total Portfolio
 
Outstanding
Balance
 
Percent of
Total Portfolio
Real estate loans:
 
 
 
 
 
 
 
Construction
$
30,781

 
4.0
%
 
$
33,050

 
4.4
%
Secured by farmland
19,505

 
2.5

 
19,708

 
2.6

Secured by 1-4 family residential
272,198

 
35.2

 
265,216

 
35.1

Other real estate loans
265,892

 
34.4

 
255,236

 
33.8

Commercial loans
167,542

 
21.7

 
163,269

 
21.6

Consumer loans
17,172

 
2.2

 
18,367

 
2.5

Total Gross Loans (1)
$
773,090

 
100.0
%
 
$
754,846

 
100.0
%
Less allowance for loan losses
11,894

 
 

 
11,786

 
 
Net loans
$
761,196

 
 

 
$
743,060

 
 

(1) 
Includes net deferred loan costs and premiums of $3.1 million and $3.0 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, 2015
(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
$
—

 
$
—

 
$
—

 
$
—

 
$
30,781

 
$
30,781

Secured by farmland
—

 
—

 
—

 
—

 
19,505

 
19,505

Secured by 1-4 family residential
374

 
463

 
623

 
1,460

 
270,738

 
272,198

Other real estate loans
331

 
—

 
85

 
416

 
265,476

 
265,892

Commercial loans
22

 
—

 
88

 
110

 
167,432

 
167,542

Consumer loans
93

 
—

 
—

 
93

 
17,079

 
17,172

Total
$
820

 
$
463

 
$
796

 
$
2,079

 
$
771,011

 
$
773,090


 
December 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
$
—

 
$
—

 
$
—

 
$
—

 
$
33,050

 
$
33,050

Secured by farmland
—

 
—

 
—

 
—

 
19,708

 
19,708

Secured by 1-4 family residential
819

 
—

 
548

 
1,367

 
263,849

 
265,216

Other real estate loans
—

 
—

 
—

 
—

 
255,236

 
255,236

Commercial loans
138

 
—

 
320

 
458

 
162,811

 
163,269

Consumer loans
16

 
1

 
3,003

 
3,020

 
15,347

 
18,367

Total
$
973

 
$
1

 
$
3,871

 
$
4,845

 
$
750,001

 
$
754,846


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, 2015
 
December 31, 2014
(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
$
223

 
$
—

 
$
247

 
$
—

Secured by 1-4 family residential
4,491

 
—

 
4,932

 
—

Other real estate loans
1,187

 
85

 
1,472

 
—

Commercial loans
73

 
88

 
290

 
30

Consumer loans
2,034

 
—

 
3,003

 
—

Total
$
8,008

 
$
173

 
$
9,944

 
$
30
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, 2015
(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
$
23,788

 
$
11,004

 
$
262,946

 
$
251,176

 
$
165,897

 
$
15,066

 
$
729,877

Special Mention
6,433

 
—

 
1,572

 
6,607

 
1,429

 
34

 
16,075

Substandard
560

 
8,501

 
6,782

 
6,922

 
216

 
2,068

 
25,049

Doubtful
—

 
—

 
898

 
1,187

 
—

 
4

 
2,089

Loss
—

 
—

 
—

 
—

 
—

 
—

 
—

Ending Balance
$
30,781

 
$
19,505

 
$
272,198

 
$
265,892

 
$
167,542

 
$
17,172

 
$
773,090


December 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
$
25,637

 
$
11,203

 
$
255,898

 
$
232,169

 
$
159,595

 
$
15,310

 
$
699,812

Special Mention
6,764

 
7,903

 
1,518

 
15,687

 
3,059

 
18

 
34,949

Substandard
649

 
602

 
7,348

 
7,380

 
369

 
3,019

 
19,367

Doubtful
—

 
—

 
452

 
—

 
246

 
3

 
701

Loss
—

 
—

 
—

 
—

 
—

 
17

 
17

Ending Balance
$
33,050

 
$
19,708

 
$
265,216

 
$
255,236

 
$
163,269

 
$
18,367

 
$
754,846
Loans identified as impaired by class of loan
The following tables present loans individually evaluated for impairment by class of loan:
 
June 30, 2015
(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
$
114

 
$
114

 
$
—

 
$
123

 
$
—

Secured by farmland
7,903

 
7,903

 
—

 
7,903

 
113

Secured by 1-4 family residential
642

 
642

 
—

 
667

 
—

Other real estate loans
—

 
—

 
—

 
—

 
—

Commercial loans
468

 
468

 
—

 
473

 
9

Consumer loans
—

 
—

 
—

 
—

 
—

Total with no related allowance
$
9,127

 
$
9,127

 
$
—

 
$
9,166

 
$
122

With an allowance recorded:
 

 
 

 
 

 
 

 
 

Real estate loans:
 

 
 

 
 

 
 

 
 

Construction
$
109

 
$
109

 
$
60

 
$
112

 
$
—

Secured by farmland
—

 
—

 
—

 
—

 
—

Secured by 1-4 family residential
4,081

 
4,133

 
1,412

 
4,111

 
8

Other real estate loans
4,230

 
4,230

 
454

 
4,241

 
78

Commercial loans
327

 
327

 
43

 
344

 
8

Consumer loans
2,033

 
2,033

 
1,003

 
2,522

 
—

Total with a related allowance
$
10,780

 
$
10,832

 
$
2,972

 
$
11,330

 
$
94

Total
$
19,907

 
$
19,959

 
$
2,972

 
$
20,496

 
$
216

 
 
December 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
$
131

 
$
131

 
$
—

 
$
138

 
$
—

Secured by farmland
7,903

 
7,903

 
—

 
7,903

 
454

Secured by 1-4 family residential
1,919

 
2,047

 
—

 
2,032

 
16

Other real estate loans
3,289

 
3,289

 
—

 
3,352

 
104

Commercial loans
448

 
448

 
—

 
454

 
18

Consumer loans
—

 
—

 
—

 
—

 
—

Total with no related allowance
$
13,690

 
$
13,818

 
$
—

 
$
13,879

 
$
592

With an allowance recorded:
 

 
 

 
 

 
 

 
 

Real estate loans:
 

 
 

 
 

 
 

 
 

Construction
$
115

 
$
115

 
$
66

 
$
124

 
$
—

Secured by farmland
—

 
—

 
—

 
—

 
—

Secured by 1-4 family residential
3,694

 
3,746

 
1,370

 
3,704

 
11

Other real estate loans
1,242

 
1,242

 
294

 
1,260

 
69

Commercial loans
398

 
1,248

 
292

 
783

 
7

Consumer loans
3,019

 
3,019

 
647

 
3,021

 
2

Total with a related allowance
$
8,468

 
$
9,370

 
$
2,669

 
$
8,892

 
$
89

Total
$
22,158

 
$
23,188

 
$
2,669

 
$
22,771

 
$
681
Loans modified in TDR by class of loan
Loan modifications that were classified as TDRs during the three and six months ended June 30, 2015 and 2014 were as follows:
 
 
Loans Modified as TDRs
 
 
For the Three Months Ended June 30,
(Dollars in thousands)
 
2015
 
2014
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
 
1

 
7,903

 
7,903

 
—

 
—

 
—

   Secured by 1-4 family residential
 
—

 
—

 
—

 
1

 
409

 
409

   Other real estate loans
 
—

 
—

 
—

 
—

 
—

 
—

Total real estate loans
 
1

 
$
7,903

 
$
7,903

 
1

 
$
409

 
$
409

Commercial loans
 
—

 
—

 
—

 
—

 
—

 
—

Consumer loans
 
1

 
3,000

 
3,000

 
—

 
—

 
—

Total
 
2

 
$
10,903

 
$
10,903

 
1

 
$
409

 
$
409


 
 
Loans Modified as TDRs
 
 
For the Six Months Ended June 30,
(Dollars in thousands)
 
2015
 
2014
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
 
1

 
7,903

 
7,903

 
—

 
—

 
—

   Secured by 1-4 family residential
 
—

 
—

 
—

 
4

 
1,190

 
1,142

   Other real estate loans
 
—

 
—

 
—

 
1

 
200

 
173

Total real estate loans
 
1

 
$
7,903

 
$
7,903

 
5

 
$
1,390

 
$
1,315

Commercial loans
 
—

 
—

 
—

 
—

 
—

 
—

Consumer loans
 
1

 
3,000

 
3,000

 
—

 
—

 
—

Total
 
2

 
$
10,903

 
$
10,903

 
5

 
$
1,390

 
$
1,315

TDR payment defaults during three and six months ended June 30, 2015 and 2014 were as follows:

 
 
For the Three Months Ended June 30,
(Dollars in thousands)
 
2015
 
2014
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

   Other real estate loans
 
—

 
—

 
1

 
94

Total real estate loans
 
—

 
$
—

 
3

 
$
294

Commercial loans
 
—

 
—

 
1

 
49

Consumer loans
 
—

 
—

 
—

 
—

Total
 
—

 
$
—

 
4

 
$
343


 
 
For the Six Months Ended June 30,
(Dollars in thousands)
 
2015
 
2014
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
 
—

 
—

 
4

 
376

   Other real estate loans
 
—

 
—

 
1

 
94

Total real estate loans
 
—

 
$
—

 
5

 
$
470

Commercial loans
 
—

 
—

 
1

 
49

Consumer loans
 
—

 
—

 
—

 
—

Total
 
—

 
$
—

 
6

 
$
519