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

 

 

 

 

 

 

 

(In thousands)

 

September 30, 2013

 

December 31, 2012

SBA loans held to maturity

 

$
50,445 

 

$
58,593 

SBA 504 loans

 

 
37,041 

 

 
41,438 

Commercial loans

 

 

 

 

 

 

Commercial other

 

 
32,580 

 

 
24,043 

Commercial real estate

 

 
308,761 

 

 
264,439 

Commercial real estate construction

 

 
7,284 

 

 
13,082 

Residential mortgage loans

 

 

 

 

 

 

Residential mortgages

 

 
166,830 

 

 
125,232 

Purchased residential mortgages

 

 
6,299 

 

 
6,862 

Consumer loans

 

 

 

 

 

 

Home equity

 

 
44,128 

 

 
45,152 

Consumer other

 

 
1,356 

 

 
1,258 

Total loans held for investment

 

$
654,724 

 

$
580,099 

SBA loans held for sale

 

 
5,893 

 

 
6,937 

Total loans

 

$
660,617 

 

$
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 September 30, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2013

 

 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held to maturity

 

$
42,087 

 

$
1,928 

 

$
6,430 

 

$
50,445 

SBA 504 loans

 

 
27,428 

 

 
7,080 

 

 
2,533 

 

 
37,041 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
29,735 

 

 
1,667 

 

 
1,178 

 

 
32,580 

Commercial real estate

 

 
277,691 

 

 
22,988 

 

 
8,082 

 

 
308,761 

Commercial real estate construction

 

 
7,107 

 

 

 -

 

 
177 

 

 
7,284 

Total commercial loans

 

 
314,533 

 

 
24,655 

 

 
9,437 

 

 
348,625 

Total SBA, SBA 504 and commercial loans

 

$
384,048 

 

$
33,663 

 

$
18,400 

 

$
436,111 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 

 

 

$
164,487 

 

$
2,343 

 

$
166,830 

Purchased residential mortgages

 

 

 

 

 
4,570 

 

 
1,729 

 

 
6,299 

Total residential mortgage loans

 

 

 

 

 
169,057 

 

 
4,072 

 

 
173,129 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 
42,400 

 

 
1,728 

 

 
44,128 

Consumer other

 

 

 

 

 
1,356 

 

 

 -

 

 
1,356 

Total consumer loans

 

 

 

 

 
43,756 

 

 
1,728 

 

 
45,484 

Total residential mortgage and consumer loans

 

 

 

 

$
212,813 

 

$
5,800 

 

$
218,613 

 

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]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 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

 

$
830 

 

$
96 

 

$
1 

 

$
3,058 

 

$
3,985 

 

$
46,460 

 

$
50,445 

SBA 504 loans

 

 

 -

 

 

 -

 

 

 -

 

 
2,298 

 

 
2,298 

 

 
34,743 

 

 
37,041 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
10 

 

 

 -

 

 
94 

 

 
979 

 

 
1,083 

 

 
31,497 

 

 
32,580 

Commercial real estate

 

 
57 

 

 

 -

 

 
14 

 

 
4,342 

 

 
4,413 

 

 
304,348 

 

 
308,761 

Commercial real estate construction

 

 

 -

 

 

 -

 

 

 -

 

 
177 

 

 
177 

 

 
7,107 

 

 
7,284 

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
1,148 

 

 

 -

 

 
748 

 

 
2,343 

 

 
4,239 

 

 
162,591 

 

 
166,830 

Purchased residential mortgages

 

 
537 

 

 
68 

 

 
4 

 

 
1,729 

 

 
2,338 

 

 
3,961 

 

 
6,299 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
432 

 

 
198 

 

 

 -

 

 
1,728 

 

 
2,358 

 

 
41,770 

 

 
44,128 

Consumer other

 

 
5 

 

 

 -

 

 

 -

 

 

 -

 

 
5 

 

 
1,351 

 

 
1,356 

Total loans held for investment

 

$
3,019 

 

$
362 

 

$
861 

 

$
16,654 

 

$
20,896 

 

$
633,828 

 

$
654,724 

SBA loans held for sale

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
5,893 

 

 
5,893 

Total loans

 

$
3,019 

 

$
362 

 

$
861 

 

$
16,654 

 

$
20,896 

 

$
639,721 

 

$
660,617 

 

(1)

At September 30, 2013, nonaccrual loans included $1.8 million of troubled debt restructurings ("TDRs") and $592 thousand of loans guaranteed by the SBA.  The remaining $7.7 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 

 

(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.

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

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 September 30, 2013: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2013

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

$
1,657 

 

$
768 

 

$

 -

SBA 504 loans

 

 
2,265 

 

 
2,265 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
966 

 

 
966 

 

 

 -

Commercial real estate

 

 
3,886 

 

 
3,739 

 

 

 -

Total commercial loans

 

 
4,852 

 

 
4,705 

 

 

 -

Total impaired loans with no related allowance

 

 
8,774 

 

 
7,738 

 

 

 -

 

 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

 
2,446 

 

 
2,169 

 

 
876 

SBA 504 loans

 

 
2,574 

 

 
1,874 

 

 
31 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
26 

 

 
13 

 

 
13 

Commercial real estate

 

 
6,246 

 

 
5,996 

 

 
490 

Commercial real estate construction

 

 
202 

 

 
177 

 

 
37 

Total commercial loans

 

 
6,474 

 

 
6,186 

 

 
540 

Total impaired loans with a related allowance

 

 
11,494 

 

 
10,229 

 

 
1,447 

 

 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

 
4,103 

 

 
2,937 

 

 
876 

SBA 504 loans

 

 
4,839 

 

 
4,139 

 

 
31 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
992 

 

 
979 

 

 
13 

Commercial real estate

 

 
10,132 

 

 
9,735 

 

 
490 

Commercial real estate construction

 

 
202 

 

 
177 

 

 
37 

Total commercial loans

 

 
11,326 

 

 
10,891 

 

 
540 

Total individually evaluated impaired loans

 

$
20,268 

 

$
17,967 

 

$
1,447 

 

(1)

Balances are reduced by amount guaranteed by the SBA of $592 thousand at September 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 

 

(1)

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 September 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)

 

$
3,223 

 

$
40 

 

$
3,405 

 

$
48 

SBA 504 loans

 

 
4,069 

 

 
28 

 

 
5,828 

 

 
69 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
1,679 

 

 
16 

 

 
3,567 

 

 
13 

Commercial real estate

 

 
8,115 

 

 
83 

 

 
18,879 

 

 
157 

Commercial real estate construction

 

 
177 

 

 

 -

 

 

 -

 

 

 -

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
2,690 

 

 

 -

 

 
2,104 

 

 

 -

Purchased residential mortgages

 

 
1,740 

 

 

 -

 

 
3,168 

 

 

 -

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
1,212 

 

 

 -

 

 
290 

 

 

 -

Consumer other

 

 

 -

 

 

 -

 

 
10 

 

 

 -

Total

 

$
22,905 

 

$
167 

 

$
37,251 

 

$
287 

 

(1)

Balances are reduced by the average amount guaranteed by the Small Business Administration of $605 thousand and $534 thousand for the three months ended September 30, 2013 and 2012, respectively.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the nine months ended September 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)

 

$
3,395 

 

$
153 

 

$
4,436 

 

$
164 

SBA 504 loans

 

 
5,642 

 

 
142 

 

 
6,244 

 

 
209 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
1,923 

 

 
100 

 

 
3,560 

 

 
40 

Commercial real estate

 

 
9,853 

 

 
252 

 

 
19,031 

 

 
454 

Commercial real estate construction

 

 
169 

 

 

 -

 

 
178 

 

 

 -

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
2,717 

 

 

 -

 

 
1,904 

 

 

 -

Residential construction

 

 

 -

 

 

 -

 

 
1,205 

 

 

 -

Purchased residential mortgages

 

 
1,875 

 

 

 -

 

 
2,512 

 

 

 -

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
724 

 

 
16 

 

 
301 

 

 

 -

Consumer other

 

 
1 

 

 

 -

 

 
10 

 

 

 -

Total

 

$
26,299 

 

$
663 

 

$
39,381 

 

$
867 

 

(1)

Balances are reduced by the average amount guaranteed by the Small Business Administration of $1.1 million and $567 thousand for the nine months ended September 30, 2013 and 2012, respectively.
Troubled Debt Restructurings Loans Modified [Table Text Block]

The following table details loans modified during the nine months ended September 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 nine months ended September 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 real estate

 

 
1 

 

$
2,684 

 

$
33 

 

 
3 

 

$
1,856 

 

$
11 

Total

 

 
1 

 

$
2,684 

 

$
33 

 

 
3 

 

$
1,856 

 

$
11 

 

The following table presents loans modified as TDRs within the previous 12 months where a concession was made and the loan subsequently defaulted at some point during the nine months ended September 30, 2013 or 2012. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the nine months ended September 30,

 

 

2013

 

2012

(In thousands, except number of contracts)

 

Number of contracts

 

Recorded investment

 

Number of contracts

 

Recorded investment

Commercial real estate

 

 

 -

 

$

 -

 

 
1 

 

$
909 

Total

 

 

 -

 

$

 -

 

 
1 

 

$
909 

 

Troubled Debt Restructurings Types Of Modifications [TableText Block]

 

 

For the nine months ended September 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 nine months ended September 30, 2012

(In thousands)

 

Commercial real estate

 

Total

Type of modification:

 

 

 

 

 

 

Interest only

 

$
1,856 

 

$
1,856 

Total TDRs

 

$
1,856 

 

$
1,856