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Loans (Tables)
 6 Months Ended
Jun. 30, 2014
Loans [Abstract]  
Classification Of Loans By Class [Table Text Block]

 

 

 

 

 

 

 

(In thousands)

 

June 30, 2014

 

December 31, 2013

SBA loans held for investment

 

$
46,890 

 

$
48,918 

SBA 504 loans

 

 
34,452 

 

 
31,564 

Commercial loans

 

 

 

 

 

 

Commercial other

 

 
37,536 

 

 
37,611 

Commercial real estate

 

 
326,231 

 

 
317,471 

Commercial real estate construction

 

 
12,209 

 

 
8,258 

Residential mortgage loans

 

 
196,184 

 

 
182,067 

Consumer loans

 

 

 

 

 

 

Home equity

 

 
47,784 

 

 
43,704 

Consumer other

 

 
1,159 

 

 
2,435 

Total loans held for investment

 

$
702,445 

 

$
672,028 

SBA loans held for sale

 

 
6,444 

 

 
6,673 

Total loans

 

$
708,889 

 

$
678,701 

 

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, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2014

 

 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held for investment

 

$
41,732 

 

$
1,438 

 

$
3,720 

 

$
46,890 

SBA 504 loans

 

 
24,394 

 

 
9,418 

 

 
640 

 

 
34,452 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
35,032 

 

 
1,371 

 

 
1,133 

 

 
37,536 

Commercial real estate

 

 
300,827 

 

 
20,969 

 

 
4,435 

 

 
326,231 

Commercial real estate construction

 

 
11,891 

 

 
318 

 

 

 -

 

 
12,209 

Total commercial loans

 

 
347,750 

 

 
22,658 

 

 
5,568 

 

 
375,976 

Total SBA, SBA 504 and commercial loans

 

$
413,876 

 

$
33,514 

 

$
9,928 

 

$
457,318 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

$
192,050 

 

$
4,134 

 

$
196,184 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 
46,860 

 

 
924 

 

 
47,784 

Consumer other

 

 

 

 

 
1,159 

 

 

 -

 

 
1,159 

Total consumer loans

 

 

 

 

 
48,019 

 

 
924 

 

 
48,943 

Total residential mortgage and consumer loans

 

 

 

 

$
240,069 

 

$
5,058 

 

$
245,127 

 

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, 2013: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held for investment

 

$
43,778 

 

$
2,035 

 

$
3,105 

 

$
48,918 

SBA 504 loans

 

 
20,641 

 

 
9,595 

 

 
1,328 

 

 
31,564 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
34,946 

 

 
1,499 

 

 
1,166 

 

 
37,611 

Commercial real estate

 

 
289,220 

 

 
21,137 

 

 
7,114 

 

 
317,471 

Commercial real estate construction

 

 
8,081 

 

 

 -

 

 
177 

 

 
8,258 

Total commercial loans

 

 
332,247 

 

 
22,636 

 

 
8,457 

 

 
363,340 

Total SBA, SBA 504 and commercial loans

 

$
396,666 

 

$
34,266 

 

$
12,890 

 

$
443,822 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

$
176,340 

 

$
5,727 

 

$
182,067 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 
42,029 

 

 
1,675 

 

 
43,704 

Consumer other

 

 

 

 

 
2,430 

 

 
5 

 

 
2,435 

Total consumer loans

 

 

 

 

 
44,459 

 

 
1,680 

 

 
46,139 

Total residential mortgage and consumer loans

 

 

 

 

$
220,799 

 

$
7,407 

 

$
228,206 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2014

(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 for investment

 

$
15 

 

$
185 

 

$

 -

 

$
5,113 

 

$
5,313 

 

$
41,577 

 

$
46,890 

SBA 504 loans

 

 

 -

 

 

 -

 

 

 -

 

 
433 

 

 
433 

 

 
34,019 

 

 
34,452 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
70 

 

 

 -

 

 

 -

 

 
73 

 

 
143 

 

 
37,393 

 

 
37,536 

Commercial real estate

 

 
907 

 

 
425 

 

 

 -

 

 
1,252 

 

 
2,584 

 

 
323,647 

 

 
326,231 

Commercial real estate construction

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
12,209 

 

 
12,209 

Residential mortgage loans

 

 
2,341 

 

 
386 

 

 

 -

 

 
4,134 

 

 
6,861 

 

 
189,323 

 

 
196,184 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
201 

 

 
16 

 

 

 -

 

 
924 

 

 
1,141 

 

 
46,643 

 

 
47,784 

Consumer other

 

 
7 

 

 

 -

 

 

 -

 

 

 -

 

 
7 

 

 
1,152 

 

 
1,159 

Total loans held for investment

 

$
3,541 

 

$
1,012 

 

$

 -

 

$
11,929 

 

$
16,482 

 

$
685,963 

 

$
702,445 

SBA loans held for sale

 

 

 -

 

 
58 

 

 

 -

 

 

 -

 

 
58 

 

 
6,386 

 

 
6,444 

Total loans

 

$
3,541 

 

$
1,070 

 

$

 -

 

$
11,929 

 

$
16,540 

 

$
692,349 

 

$
708,889 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

At June 30, 2014, nonaccrual loans included $741 thousand of troubled debt restructurings ("TDRs") and $2.3 million of loans guaranteed by the SBA.  The remaining $7.0 million of TDRs are in accrual status because they are performing in accordance with their restructured terms. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 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 for investment

 

$
4,314 

 

$
264 

 

$

 -

 

$
2,746 

 

$
7,324 

 

$
41,594 

 

$
48,918 

SBA 504 loans

 

 

 -

 

 

 -

 

 

 -

 

 
1,101 

 

 
1,101 

 

 
30,463 

 

 
31,564 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
123 

 

 

 -

 

 

 -

 

 
67 

 

 
190 

 

 
37,421 

 

 
37,611 

Commercial real estate

 

 
347 

 

 
190 

 

 
14 

 

 
3,785 

 

 
4,336 

 

 
313,135 

 

 
317,471 

Commercial real estate construction

 

 

 -

 

 

 -

 

 

 -

 

 
177 

 

 
177 

 

 
8,081 

 

 
8,258 

Residential mortgage loans

 

 
3,050 

 

 

 -

 

 
5 

 

 
5,727 

 

 
8,782 

 

 
173,285 

 

 
182,067 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
142 

 

 
69 

 

 

 -

 

 
1,675 

 

 
1,886 

 

 
41,818 

 

 
43,704 

Consumer other

 

 
9 

 

 
1 

 

 

 -

 

 
5 

 

 
15 

 

 
2,420 

 

 
2,435 

Total loans held for investment

 

$
7,985 

 

$
524 

 

$
19 

 

$
15,283 

 

$
23,811 

 

$
648,217 

 

$
672,028 

SBA loans held for sale

 

 
65 

 

 

 -

 

 

 -

 

 

 -

 

 
65 

 

 
6,608 

 

 
6,673 

Total loans

 

$
8,050 

 

$
524 

 

$
19 

 

$
15,283 

 

$
23,876 

 

$
654,825 

 

$
678,701 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2013, nonaccrual loans included $467 thousand of TDRs and $540 thousand of loans guaranteed by the SBA.  The remaining $7.5 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 June 30, 2014: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2014

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

$
1,158 

 

$
1,017 

 

$

 -

SBA 504 loans

 

 
2,232 

 

 
2,232 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
55 

 

 
56 

 

 

 -

Commercial real estate

 

 
5,406 

 

 
5,317 

 

 

 -

Total commercial loans

 

 
5,461 

 

 
5,373 

 

 

 -

Total impaired loans with no related allowance

 

 
8,851 

 

 
8,622 

 

 

 -

 

 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 
2,428 

 

 
2,251 

 

 
1,049 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
30 

 

 
17 

 

 
17 

Commercial real estate

 

 
691 

 

 
641 

 

 
72 

Total commercial loans

 

 
721 

 

 
658 

 

 
89 

Total impaired loans with a related allowance

 

 
3,149 

 

 
2,909 

 

 
1,138 

 

 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 
3,586 

 

 
3,268 

 

 
1,049 

SBA 504 loans

 

 
2,232 

 

 
2,232 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
85 

 

 
73 

 

 
17 

Commercial real estate

 

 
6,097 

 

 
5,958 

 

 
72 

Total commercial loans

 

 
6,182 

 

 
6,031 

 

 
89 

Total individually evaluated impaired loans

 

$
12,000 

 

$
11,531 

 

$
1,138 

(1)

Balances are reduced by amount guaranteed by the SBA of $2.3 million at June 30, 2014.

 

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, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

$
1,123 

 

$
835 

 

$

 -

SBA 504 loans

 

 
2,251 

 

 
2,251 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
56 

 

 
55 

 

 

 -

Commercial real estate

 

 
6,116 

 

 
5,969 

 

 

 -

Total commercial loans

 

 
6,172 

 

 
6,024 

 

 

 -

Total impaired loans with no related allowance

 

 
9,546 

 

 
9,110 

 

 

 -

 

 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 
2,282 

 

 
1,905 

 

 
831 

SBA 504 loans

 

 
1,277 

 

 
677 

 

 
29 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
24 

 

 
12 

 

 
12 

Commercial real estate

 

 
3,557 

 

 
2,907 

 

 
230 

Commercial real estate construction

 

 
202 

 

 
177 

 

 
36 

Total commercial loans

 

 
3,783 

 

 
3,096 

 

 
278 

Total impaired loans with a related allowance

 

 
7,342 

 

 
5,678 

 

 
1,138 

 

 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 
3,405 

 

 
2,740 

 

 
831 

SBA 504 loans

 

 
3,528 

 

 
2,928 

 

 
29 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
80 

 

 
67 

 

 
12 

Commercial real estate

 

 
9,673 

 

 
8,876 

 

 
230 

Commercial real estate construction

 

 
202 

 

 
177 

 

 
36 

Total commercial loans

 

 
9,955 

 

 
9,120 

 

 
278 

Total individually evaluated impaired loans

 

$
16,888 

 

$
14,788 

 

$
1,138 

 

(1)

Balances are reduced by amount guaranteed by the SBA of $540 thousand at December 31, 2013.
Average Recorded Investments In Impaired Loans And The Related Amount Of Interest Recognized [TableText Block]

 

 

For the three months ended June 30,

 

 

2014

 

2013

(In thousands)

 

Average recorded investment

 

Interest income recognized on impaired loans

 

Average recorded investment

 

Interest income recognized on impaired loans

SBA loans held for investment (1)

 

$
3,167 

 

$
21 

 

$
3,421 

 

$
85 

SBA 504 loans

 

 
2,238 

 

 
27 

 

 
5,372 

 

 
55 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
75 

 

 
1 

 

 
2,049 

 

 
24 

Commercial real estate

 

 
6,256 

 

 
54 

 

 
10,418 

 

 
86 

Commercial real estate construction

 

 
115 

 

 

 -

 

 
194 

 

 

 -

Total

 

$
11,851 

 

$
103 

 

$
21,454 

 

$
250 

 

(1)

Balances are reduced by the average amount guaranteed by the Small Business Administration of $2.0 million and $921 thousand for the three months ended June 30, 2014 and 2013, respectively.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the six months ended June 30,

 

 

2014

 

2013

(In thousands)

 

Average recorded investment

 

Interest income recognized on impaired loans

 

Average recorded investment

 

Interest income recognized on impaired loans

SBA loans held for investment (1)

 

$
3,108 

 

$
56 

 

$
3,482 

 

$
141 

SBA 504 loans

 

 
2,468 

 

 
55 

 

 
6,428 

 

 
139 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
71 

 

 
2 

 

 
2,045 

 

 
85 

Commercial real estate

 

 
7,143 

 

 
123 

 

 
10,722 

 

 
139 

Commercial real estate construction

 

 
146 

 

 

 -

 

 
164 

 

 

 -

Total

 

$
12,936 

 

$
236 

 

$
22,841 

 

$
504 

 

(1)

Balances are reduced by the average amount guaranteed by the Small Business Administration of $2.3 million and $1.3 million for the six months ended June 30, 2014 and 2013, respectively.
Troubled Debt Restructurings Loans Modified [Table Text Block]

The following table details loans modified during the six months ended June 30, 2014 and 2013, including the number of modifications and the recorded investment at the time of the modification.  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the six months ended June 30,

 

 

2014

 

2013

(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 

 

 
17 

Total

 

$

 -

 

$

 -

 

$

 -

 

$
1 

 

$
2,684 

 

$
17 

 

Troubled Debt Restructurings, Subsequent Default [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended June 30,

 

 

2014

 

2013

(In thousands, except number of contracts)

 

Number of contracts

 

Recorded investment

 

Number of contracts

 

Recorded investment

SBA loans held for investment

 

 
1 

 

$
131 

 

 

 -

 

$

 -

Total

 

 
1 

 

$
131 

 

 

 -

 

$

 -

 

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