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Loans (Tables)
 12 Months Ended
Dec. 31, 2012
Loans [Abstract]  
Classification Of Loans By Class [Table Text Block]

 

 

 

 

 

 

 

(In thousands)

 

December 31, 2012

 

December 31, 2011

SBA loans held to maturity

 

$
58,593 

 

$
64,175 

SBA 504 loans

 

 
41,438 

 

 
55,108 

Commercial loans

 

 

 

 

 

 

Commercial other

 

 
24,043 

 

 
26,542 

Commercial real estate

 

 
264,439 

 

 
246,824 

Commercial real estate construction

 

 
13,082 

 

 
9,738 

Residential mortgage loans

 

 

 

 

 

 

Residential mortgages

 

 
125,232 

 

 
123,843 

Residential construction

 

 

 -

 

 
2,205 

Purchased residential mortgages

 

 
6,862 

 

 
8,042 

Consumer loans

 

 

 

 

 

 

Home equity

 

 
45,152 

 

 
46,935 

Consumer other

 

 
1,258 

 

 
1,512 

Total loans held for investment

 

$
580,099 

 

$
584,924 

SBA loans held for sale

 

 
6,937 

 

 
7,668 

Total loans

 

$
587,036 

 

$
592,592 

 

Loan Portfolio By Class According To Their Credit Quality Indicators [Table Text Block]

The tables below detail the Company’s loan portfolio by class according to their credit quality indicators discussed in the paragraphs above as of December 31, 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held to maturity

 

$
45,680 

 

$
4,376 

 

$
8,537 

 

$
58,593 

SBA 504 loans

 

 
28,726 

 

 
5,860 

 

 
6,852 

 

 
41,438 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
20,187 

 

 
1,669 

 

 
2,187 

 

 
24,043 

Commercial real estate

 

 
229,516 

 

 
30,733 

 

 
4,190 

 

 
264,439 

Commercial real estate construction

 

 
12,880 

 

 
202 

 

 

 -

 

 
13,082 

Total commercial loans

 

 
262,583 

 

 
32,604 

 

 
6,377 

 

 
301,564 

Total SBA, SBA 504 and commercial loans

 

$
336,989 

 

$
42,840 

 

$
21,766 

 

$
401,595 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 

 

 

$
122,711 

 

$
2,521 

 

$
125,232 

Purchased residential mortgages

 

 

 

 

 
3,872 

 

 
2,990 

 

 
6,862 

Total residential mortgage loans

 

 

 

 

 
126,583 

 

 
5,511 

 

 
132,094 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 
44,844 

 

 
308 

 

 
45,152 

Consumer other

 

 

 

 

 
1,249 

 

 
9 

 

 
1,258 

Total consumer loans

 

 

 

 

 
46,093 

 

 
317 

 

 
46,410 

Total residential mortgage and consumer loans

 

 

 

 

$
172,676 

 

$
5,828 

 

$
178,504 

 

The tables below detail the Company’s loan portfolio by class according to their credit quality indicators discussed in the paragraphs above as of December 31, 2011: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2011

 

 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held to maturity

 

$
41,901 

 

$
8,900 

 

$
13,374 

 

$
64,175 

SBA 504 loans

 

 
39,566 

 

 
5,543 

 

 
9,999 

 

 
55,108 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
20,921 

 

 
1,160 

 

 
4,461 

 

 
26,542 

Commercial real estate

 

 
187,680 

 

 
49,231 

 

 
9,913 

 

 
246,824 

Commercial real estate construction

 

 
8,255 

 

 
883 

 

 
600 

 

 
9,738 

Total commercial loans

 

 
216,856 

 

 
51,274 

 

 
14,974 

 

 
283,104 

Total SBA, SBA 504 and commercial loans

 

$
298,323 

 

$
65,717 

 

$
38,347 

 

$
402,387 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 

 

 

$
122,012 

 

$
1,831 

 

$
123,843 

Residential construction

 

 

 

 

 
36 

 

 
2,169 

 

 
2,205 

Purchased residential mortgages

 

 

 

 

 
6,005 

 

 
2,037 

 

 
8,042 

Total residential mortgage loans

 

 

 

 

 
128,053 

 

 
6,037 

 

 
134,090 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 
46,676 

 

 
259 

 

 
46,935 

Consumer other

 

 

 

 

 
1,503 

 

 
9 

 

 
1,512 

Total consumer loans

 

 

 

 

 
48,179 

 

 
268 

 

 
48,447 

Total residential mortgage and consumer loans

 

 

 

 

$
176,232 

 

$
6,305 

 

$
182,537 

 

Aging Analysis Of Past Due And Nonaccrual Loans By Loan Class [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

(In thousands)

 

30-59 days past due

 

60-89 days past due

 

90+ days and still accruing

 

Nonaccrual (1)

 

Total past due

 

Current

 

Total loans

SBA loans held to maturity

 

$
1,912 

 

$
296 

 

$

 -

 

$
4,633 

 

$
6,841 

 

$
51,752 

 

$
58,593 

SBA 504 loans

 

 
5,037 

 

 

 -

 

 

 -

 

 
2,562 

 

 
7,599 

 

 
33,839 

 

 
41,438 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 -

 

 

 -

 

 
109 

 

 
1,122 

 

 
1,231 

 

 
22,812 

 

 
24,043 

Commercial real estate

 

 
3,763 

 

 

 -

 

 

 -

 

 
3,323 

 

 
7,086 

 

 
257,353 

 

 
264,439 

Commercial real estate construction

 

 

 -

 

 
202 

 

 

 -

 

 

 -

 

 
202 

 

 
12,880 

 

 
13,082 

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
2,651 

 

 
1,878 

 

 

 -

 

 
2,521 

 

 
7,050 

 

 
118,182 

 

 
125,232 

Residential construction

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Purchased residential mortgages

 

 
134 

 

 
78 

 

 

 -

 

 
2,990 

 

 
3,202 

 

 
3,660 

 

 
6,862 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
833 

 

 

 -

 

 

 -

 

 
308 

 

 
1,141 

 

 
44,011 

 

 
45,152 

Consumer other

 

 

 -

 

 

 -

 

 

 -

 

 
9 

 

 
9 

 

 
1,249 

 

 
1,258 

Total loans held for investment

 

$
14,330 

 

$
2,454 

 

$
109 

 

$
17,468 

 

$
34,361 

 

$
545,738 

 

$
580,099 

SBA loans held for sale

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
6,937 

 

 
6,937 

Total loans

 

$
14,330 

 

$
2,454 

 

$
109 

 

$
17,468 

 

$
34,361 

 

$
552,675 

 

$
587,036 

(1)

At December 31, 2012, nonaccrual loans included $1.1 million of TDRs and $1.8 million of loans guaranteed by the SBA.  The remaining $13.6 million of TDRs are in accrual status because they are performing in accordance with their restructured terms. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2011

(In thousands)

 

30-59 days past due

 

60-89 days past due

 

90+ days and still accruing

 

Nonaccrual (1)

 

Total past due

 

Current

 

Total loans

SBA loans held to maturity

 

$
881 

 

$
225 

 

$
246 

 

$
5,859 

 

$
7,211 

 

$
56,964 

 

$
64,175 

SBA 504 loans

 

 
2,006 

 

 

 -

 

 

 -

 

 
2,086 

 

 
4,092 

 

 
51,016 

 

 
55,108 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
1,158 

 

 

 -

 

 
192 

 

 
815 

 

 
2,165 

 

 
24,377 

 

 
26,542 

Commercial real estate

 

 
2,493 

 

 
3,119 

 

 
949 

 

 
7,104 

 

 
13,665 

 

 
233,159 

 

 
246,824 

Commercial real estate construction

 

 

 -

 

 

 -

 

 

 -

 

 
600 

 

 
600 

 

 
9,138 

 

 
9,738 

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
3,519 

 

 
1,310 

 

 

 -

 

 
1,831 

 

 
6,660 

 

 
117,183 

 

 
123,843 

Residential construction

 

 

 -

 

 

 -

 

 
36 

 

 
2,169 

 

 
2,205 

 

 

 -

 

 
2,205 

Purchased residential mortgages

 

 
149 

 

 

 -

 

 

 -

 

 
2,037 

 

 
2,186 

 

 
5,856 

 

 
8,042 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
338 

 

 
199 

 

 
988 

 

 
259 

 

 
1,784 

 

 
45,151 

 

 
46,935 

Consumer other

 

 
1 

 

 
3 

 

 

 -

 

 
9 

 

 
13 

 

 
1,499 

 

 
1,512 

Total loans held for investment

 

$
10,545 

 

$
4,856 

 

$
2,411 

 

$
22,769 

 

$
40,581 

 

$
544,343 

 

$
584,924 

SBA loans held for sale

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
7,668 

 

 
7,668 

Total loans

 

$
10,545 

 

$
4,856 

 

$
2,411 

 

$
22,769 

 

$
40,581 

 

$
552,011 

 

$
592,592 

At December 31, 2011, nonaccrual loans included $3.6 million of TDRs and $939 thousand of loans guaranteed by the SBA.  The remaining $17.4 million of TDRs are in accrual status because they are performing in accordance with their restructured terms.

Impaired Loans With The Associated Allowance Amount [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

$
1,352 

 

$
866 

 

$

 -

SBA 504 loans

 

 
5,812 

 

 
5,555 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
2,032 

 

 
2,033 

 

 

 -

Commercial real estate

 

 
5,220 

 

 
4,752 

 

 

 -

Total commercial loans

 

 
7,252 

 

 
6,785 

 

 

 -

Total impaired loans with no related allowance

 

 
14,416 

 

 
13,206 

 

 

 -

 

 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

 
3,355 

 

 
2,846 

 

 
1,159 

SBA 504 loans

 

 
1,297 

 

 
1,297 

 

 
217 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
126 

 

 
38 

 

 
38 

Commercial real estate

 

 
6,014 

 

 
5,979 

 

 
587 

Total commercial loans

 

 
6,140 

 

 
6,017 

 

 
625 

Total impaired loans with a related allowance

 

 
10,792 

 

 
10,160 

 

 
2,001 

 

 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

 
4,707 

 

 
3,712 

 

 
1,159 

SBA 504 loans

 

 
7,109 

 

 
6,852 

 

 
217 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
2,158 

 

 
2,071 

 

 
38 

Commercial real estate

 

 
11,234 

 

 
10,731 

 

 
587 

Total commercial loans

 

 
13,392 

 

 
12,802 

 

 
625 

Total individually evaluated impaired loans

 

$
25,208 

 

$
23,366 

 

$
2,001 

(1)

Balances are reduced by amount guaranteed by the SBA of $1.8 million at December 31, 2012.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2011

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

$
2,039 

 

$
1,553 

 

$

 -

SBA 504 loans

 

 
7,847 

 

 
5,331 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
1,725 

 

 
1,725 

 

 

 -

Commercial real estate

 

 
6,271 

 

 
6,197 

 

 

 -

Total commercial loans

 

 
7,996 

 

 
7,922 

 

 

 -

Total impaired loans with no related allowance

 

 
17,882 

 

 
14,806 

 

 

 -

 

 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

 
5,942 

 

 
4,763 

 

 
1,694 

SBA 504 loans

 

 
1,327 

 

 
1,127 

 

 
1 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
125 

 

 
75 

 

 
75 

Commercial real estate

 

 
12,139 

 

 
11,589 

 

 
2,530 

Commercial real estate construction

 

 
1,384 

 

 
600 

 

 
149 

Total commercial loans

 

 
13,648 

 

 
12,264 

 

 
2,754 

Total impaired loans with a related allowance

 

 
20,917 

 

 
18,154 

 

 
4,449 

 

 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

 
7,981 

 

 
6,316 

 

 
1,694 

SBA 504 loans

 

 
9,174 

 

 
6,458 

 

 
1 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
1,850 

 

 
1,800 

 

 
75 

Commercial real estate

 

 
18,410 

 

 
17,786 

 

 
2,530 

Commercial real estate construction

 

 
1,384 

 

 
600 

 

 
149 

Total commercial loans

 

 
21,644 

 

 
20,186 

 

 
2,754 

Total individually evaluated impaired loans

 

$
38,799 

 

$
32,960 

 

$
4,449 

Balances are reduced by amount guaranteed by the SBA of $939 thousand at December 31, 2011.

Average Recorded Investments In Impaired Loans And The Related Amount Of Interest Recognized [TableText Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the years ended December 31,

 

 

2012

 

2011

(In thousands)

 

Average recorded investment

 

Interest income recognized on impaired loans

 

Average recorded investment

 

Interest income recognized on impaired loans

SBA loans held to maturity (1)

 

$
4,161 

 

$
212 

 

$
6,550 

 

$
231 

SBA 504 loans

 

 
6,184 

 

 
278 

 

 
8,812 

 

 
214 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
3,201 

 

 
53 

 

 
1,161 

 

 
25 

Commercial real estate

 

 
17,909 

 

 
462 

 

 
14,745 

 

 
374 

Commercial real estate construction

 

 
133 

 

 

 -

 

 
760 

 

 

 -

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
2,070 

 

 

 -

 

 
2,103 

 

 

 -

Residential construction

 

 
904 

 

 

 -

 

 
181 

 

 

 -

Purchased residential mortgages

 

 
2,655 

 

 

 -

 

 
2,133 

 

 

 -

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
292 

 

 

 -

 

 
278 

 

 

 -

Consumer other

 

 
8 

 

 

 -

 

 
6 

 

 

 -

Total

 

$
37,517 

 

$
1,005 

 

$
36,729 

 

$
844 

(1)

Balances are reduced by the average amount guaranteed by the SBA of $667 thousand and $2.1 million for years ended December 31, 2012 and 2011, respectively.

 

Troubled Debt Restructurings Loans Modified [Table Text Block]

 

 

The following table details loans modified during the years ended December 31, 2012 and 2011, including the number of modifications, the recorded investment at the time of the modification and the year-to-date impact to interest income as a result of the modification.  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the years ended December 31,

 

 

2012

 

2011

(In thousands, except number of contracts)

 

Number of contracts

 

Recorded investment at time of modification

 

Impact of interest rate change on income

 

Number of contracts

 

Recorded investment at time of modification

 

Impact of interest rate change on income

SBA loans held to maturity

 

 

 -

 

$

 -

 

$

 -

 

 
2 

 

$
73 

 

$

 -

SBA 504 loans

 

 

 -

 

 

 -

 

 

 -

 

 
1 

 

 
1,339 

 

 
17 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 -

 

 

 -

 

 

 -

 

 
1 

 

 
985 

 

 
6 

Commercial real estate

 

 
3 

 

 
1,856 

 

 
11 

 

 
6 

 

 
7,720 

 

 
52 

Total

 

 
3 

 

$
1,856 

 

$
11 

 

 
10 

 

$
10,117 

 

$
75 

 

In addition, there was one commercial real estate loan with outstanding principal of $961 thousand modified as a TDR within the previous 12 months where a concession was made and the loan subsequently defaulted at some point during the year ended December 31, 2012.  In this case, subsequent default is defined as 90 days past due or transferred to nonaccrual status.  There were no qualifying subsequent defaults to TDRs in 2011.

Troubled Debt Restructurings Types Of Modifications [TableText Block]

The following tables show the types of modifications done during the years ended December 31, 2012 and 2011, with the respective loan balances as of those period ends:

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2012

(In thousands)

 

Commercial real estate

 

Total

Type of modification:

 

 

 

 

 

 

Interest only

 

$
1,890 

 

$
1,890 

Total TDRs

 

$
1,890 

 

$
1,890 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2011

(In thousands)

 

SBA held to maturity

 

SBA 504

 

Commercial other

 

Commercial real estate

 

Total

Type of modification:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest only

 

$

 -

 

$

 -

 

$

 -

 

$
1,617 

 

$
1,617 

Principal only

 

 
27 

 

 

 -

 

 

 -

 

 

 -

 

 
27 

Reduced interest rate

 

 

 -

 

 

 -

 

 

 -

 

 
590 

 

 
590 

Interest only with reduced interest rate

 

 

 -

 

 

 -

 

 
985 

 

 
5,512 

 

 
6,497 

Interest only with nominal principal

 

 
42 

 

 

 -

 

 

 -

 

 

 -

 

 
42 

Previously modified back to original terms

 

 

 -

 

 
1,320 

 

 

 -

 

 

 -

 

 
1,320 

Total TDRs

 

$
69 

 

$
1,320 

 

$
985 

 

$
7,719 

 

$
10,093 

 

Schedule of Servicing Assets at Amortized Value [Table Text Block]

 

 

 

 

 

 

 

 

 

 

For the years ended December 31,

(In thousands)

 

2012

 

2011

Balance, beginning of year

 

$
418 

 

$
512 

SBA servicing assets capitalized

 

 
155 

 

 
202 

Amortization of expense

 

 
(177)

 

 
(296)

Provision for loss in fair value

 

 

 -

 

 

 -

Balance, end of year

 

$
396 

 

$
418 

 

Schedule of Related Party Transactions [Table Text Block]

 

 

 

 

 

 

 

 

 

 

For the years ended December 31,

(In thousands)

 

2012

 

2011

Balance, beginning of year

 

$
15,585 

 

$
16,304 

New loans

 

 
537 

 

 
411 

Loan repayments

 

 
(1,517)

 

 
(1,130)

Balance, end of year

 

$
14,605 

 

$
15,585