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Loans (Tables)
 6 Months Ended
Jun. 30, 2013
Loans [Abstract]  
Classification Of Loans By Class [Table Text Block]

 

 

 

 

 

 

 

(In thousands)

 

June 30, 2013

 

December 31, 2012

SBA loans held to maturity

 

$
52,279 

 

$
58,593 

SBA 504 loans

 

 
39,070 

 

 
41,438 

Commercial loans

 

 

 

 

 

 

Commercial other

 

 
29,325 

 

 
24,043 

Commercial real estate

 

 
279,468 

 

 
264,439 

Commercial real estate construction

 

 
14,683 

 

 
13,082 

Residential mortgage loans

 

 

 

 

 

 

Residential mortgages

 

 
148,052 

 

 
125,232 

Purchased residential mortgages

 

 
6,664 

 

 
6,862 

Consumer loans

 

 

 

 

 

 

Home equity

 

 
42,860 

 

 
45,152 

Consumer other

 

 
2,143 

 

 
1,258 

Total loans held for investment

 

$
614,544 

 

$
580,099 

SBA loans held for sale

 

 
7,772 

 

 
6,937 

Total loans

 

$
622,316 

 

$
587,036 

 

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 June 30, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2013

 

 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held to maturity

 

$
42,726 

 

$
3,264 

 

$
6,289 

 

$
52,279 

SBA 504 loans

 

 
27,763 

 

 
5,725 

 

 
5,582 

 

 
39,070 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
25,784 

 

 
1,391 

 

 
2,150 

 

 
29,325 

Commercial real estate

 

 
250,416 

 

 
23,267 

 

 
5,785 

 

 
279,468 

Commercial real estate construction

 

 
14,506 

 

 

 -

 

 
177 

 

 
14,683 

Total commercial loans

 

 
290,706 

 

 
24,658 

 

 
8,112 

 

 
323,476 

Total SBA, SBA 504 and commercial loans

 

$
361,195 

 

$
33,647 

 

$
19,983 

 

$
414,825 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 

 

 

$
145,583 

 

$
2,469 

 

$
148,052 

Purchased residential mortgages

 

 

 

 

 
4,918 

 

 
1,746 

 

 
6,664 

Total residential mortgage loans

 

 

 

 

 
150,501 

 

 
4,215 

 

 
154,716 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 
41,906 

 

 
954 

 

 
42,860 

Consumer other

 

 

 

 

 
2,143 

 

 

 -

 

 
2,143 

Total consumer loans

 

 

 

 

 
44,049 

 

 
954 

 

 
45,003 

Total residential mortgage and consumer loans

 

 

 

 

$
194,550 

 

$
5,169 

 

$
199,719 

 

 

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 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2013

(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

 

$
522 

 

$
13 

 

$

 -

 

$
3,524 

 

$
4,059 

 

$
48,220 

 

$
52,279 

SBA 504 loans

 

 
272 

 

 
2,178 

 

 
425 

 

 
1,986 

 

 
4,861 

 

 
34,209 

 

 
39,070 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
28 

 

 
196 

 

 

 -

 

 
1,085 

 

 
1,309 

 

 
28,016 

 

 
29,325 

Commercial real estate

 

 
1,347 

 

 
165 

 

 

 -

 

 
1,416 

 

 
2,928 

 

 
276,540 

 

 
279,468 

Commercial real estate construction

 

 

 -

 

 

 -

 

 

 -

 

 
177 

 

 
177 

 

 
14,506 

 

 
14,683 

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
1,131 

 

 
1,219 

 

 

 -

 

 
2,469 

 

 
4,819 

 

 
143,233 

 

 
148,052 

Purchased residential mortgages

 

 
2 

 

 
69 

 

 
4 

 

 
1,746 

 

 
1,821 

 

 
4,843 

 

 
6,664 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
1,312 

 

 
33 

 

 

 -

 

 
954 

 

 
2,299 

 

 
40,561 

 

 
42,860 

Consumer other

 

 
13 

 

 
2 

 

 

 -

 

 

 -

 

 
15 

 

 
2,128 

 

 
2,143 

Total loans held for investment

 

$
4,627 

 

$
3,875 

 

$
429 

 

$
13,357 

 

$
22,288 

 

$
592,256 

 

$
614,544 

SBA loans held for sale

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
7,772 

 

 
7,772 

Total loans

 

$
4,627 

 

$
3,875 

 

$
429 

 

$
13,357 

 

$
22,288 

 

$
600,028 

 

$
622,316 

 

(1)

At June 30, 2013, nonaccrual loans included $1.7 million of troubled debt restructurings ("TDRs") and $736 thousand of loans guaranteed by the SBA.  The remaining $10.6 million of TDRs are in accrual status because they are performing in accordance with their restructured terms. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

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 

 

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.

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

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2013

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

$
1,639 

 

$
756 

 

$

 -

SBA 504 loans

 

 
3,152 

 

 
3,152 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
2,021 

 

 
2,021 

 

 

 -

Commercial real estate

 

 
4,518 

 

 
4,469 

 

 

 -

Total commercial loans

 

 
6,539 

 

 
6,490 

 

 

 -

Total impaired loans with no related allowance

 

 
11,330 

 

 
10,398 

 

 

 -

 

 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

 
2,784 

 

 
2,506 

 

 
1,079 

SBA 504 loans

 

 
2,386 

 

 
1,986 

 

 
479 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
26 

 

 
13 

 

 
13 

Commercial real estate

 

 
3,155 

 

 
3,021 

 

 
125 

Commercial real estate construction

 

 
202 

 

 
177 

 

 
37 

Total commercial loans

 

 
3,383 

 

 
3,211 

 

 
175 

Total impaired loans with a related allowance

 

 
8,553 

 

 
7,703 

 

 
1,733 

 

 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

 
4,423 

 

 
3,262 

 

 
1,079 

SBA 504 loans

 

 
5,538 

 

 
5,138 

 

 
479 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
2,047 

 

 
2,034 

 

 
13 

Commercial real estate

 

 
7,673 

 

 
7,490 

 

 
125 

Commercial real estate construction

 

 
202 

 

 
177 

 

 
37 

Total commercial loans

 

 
9,922 

 

 
9,701 

 

 
175 

Total individually evaluated impaired loans

 

$
19,883 

 

$
18,101 

 

$
1,733 

 

(1)

Balances are reduced by amount guaranteed by the SBA of $736 thousand at June 30, 2013.

 

The following table provides detail on the Company’s impaired loans that are individually evaluated for impairment with the associated allowance amount, if applicable, as of December 31, 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

 

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

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended June 30,

 

 

2013

 

2012

(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)

 

$
3,421 

 

$
84 

 

$
4,150 

 

$
36 

SBA 504 loans

 

 
5,372 

 

 
51 

 

 
6,443 

 

 
69 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
2,049 

 

 
23 

 

 
4,344 

 

 
47 

Commercial real estate

 

 
10,418 

 

 
86 

 

 
19,853 

 

 
169 

Commercial real estate construction

 

 
194 

 

 

 -

 

 

 -

 

 

 -

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
2,705 

 

 

 -

 

 
1,959 

 

 

 -

Residential construction

 

 

 -

 

 

 -

 

 
1,446 

 

 

 -

Purchased residential mortgages

 

 
1,735 

 

 

 -

 

 
2,362 

 

 

 -

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
623 

 

 
8 

 

 
328 

 

 

 -

Consumer other

 

 

 -

 

 

 -

 

 
10 

 

 

 -

Total

 

$
26,517 

 

$
252 

 

$
40,895 

 

$
321 

 

(1)

Balances are reduced by the average amount guaranteed by the Small Business Administration of $921 thousand and $529 thousand for the three months ended June 30, 2013 and 2012, respectively.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the six months ended June 30,

 

 

2013

 

2012

(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)

 

$
3,482 

 

$
141 

 

$
4,952 

 

$
85 

SBA 504 loans

 

 
6,428 

 

 
139 

 

 
6,453 

 

 
140 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
2,045 

 

 
85 

 

 
3,556 

 

 
69 

Commercial real estate

 

 
10,722 

 

 
169 

 

 
19,107 

 

 
299 

Commercial real estate construction

 

 
164 

 

 

 -

 

 
267 

 

 

 -

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
2,731 

 

 

 -

 

 
1,804 

 

 

 -

Residential construction

 

 

 -

 

 

 -

 

 
1,808 

 

 

 -

Purchased residential mortgages

 

 
1,942 

 

 

 -

 

 
2,184 

 

 

 -

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
480 

 

 
16 

 

 
306 

 

 

 -

Consumer other

 

 
2 

 

 

 -

 

 
10 

 

 

 -

Total

 

$
27,996 

 

$
550 

 

$
40,447 

 

$
593 

 

(1)

Balances are reduced by the average amount guaranteed by the Small Business Administration of $1.3 million and $584 thousand for the six months ended June 30, 2013 and 2012, respectively.
Troubled Debt Restructurings Loans Modified [Table Text Block]

The following table details loans modified during the six months ended June 30, 2013 and 2012, 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 six months ended June 30,

 

 

2013

 

2012

(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

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 -

 

$

 -

 

$

 -

 

 
3 

 

$
1,291 

 

$

 -

Commercial real estate

 

 
1 

 

 
2,684 

 

 
17 

 

 
3 

 

 
1,856 

 

 

 -

Total

 

 
1 

 

$
2,684 

 

$
17 

 

 
6 

 

$
3,147 

 

$

 -

 

Troubled Debt Restructurings Types Of Modifications [TableText Block]

 

 

For the six months ended June 30, 2013

(In thousands)

 

Commercial real estate

 

Total

Type of modification:

 

 

 

 

 

 

Interest only with reduced interest rate

 

$
2,684 

 

$
2,684 

Total TDRs

 

$
2,684 

 

$
2,684 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the six months ended June 30, 2012

(In thousands)

 

Commercial other

 

Commercial real estate

 

Total

Type of modification:

 

 

 

 

 

 

 

 

 

Interest only

 

$
1,289 

 

$
1,856 

 

$
3,145 

Total TDRs

 

$
1,289 

 

$
1,856 

 

$
3,145