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Loans (Tables)
 3 Months Ended
Mar. 31, 2016
Loans [Abstract]  
Classification of Loans By Class



 

 

 

 

 

 

(In thousands)

 

March 31, 2016

 

December 31, 2015

SBA loans held for investment

 

$

 38,863 

 

$

 39,393 

SBA 504 loans

 

 

 27,482 

 

 

 29,353 

Commercial loans

 

 

 

 

 

 

Commercial other

 

 

 50,276 

 

 

 49,332 

Commercial real estate

 

 

 390,345 

 

 

 391,071 

Commercial real estate construction

 

 

 26,645 

 

 

 25,115 

Residential mortgage loans

 

 

 260,957 

 

 

 264,523 

Consumer loans

 

 

 

 

 

 

Home equity

 

 

 44,573 

 

 

 45,042 

Consumer other

 

 

 34,625 

 

 

 32,015 

Total loans held for investment

 

$

 873,766 

 

$

 875,844 

SBA loans held for sale

 

 

 13,224 

 

 

 13,114 

Total loans

 

$

 886,990 

 

$

 888,958 



Loan Portfolio by Class According to Credit Quality Indicators

The tables below detail the Company’s loan portfolio by class according to their credit quality indicators discussed in the paragraphs above as of March 31, 2016:





 

 

 

 

 

 

 

 

 

 

 

 



 

March 31, 2016



 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held for investment

 

$

 35,008 

 

$

 2,199 

 

$

 1,656 

 

$

 38,863 

SBA 504 loans

 

 

 23,883 

 

 

 2,935 

 

 

 664 

 

 

 27,482 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 46,719 

 

 

 2,493 

 

 

 1,064 

 

 

 50,276 

Commercial real estate

 

 

 371,371 

 

 

 18,063 

 

 

 911 

 

 

 390,345 

Commercial real estate construction

 

 

 25,591 

 

 

 698 

 

 

 356 

 

 

 26,645 

Total commercial loans

 

 

 443,681 

 

 

 21,254 

 

 

 2,331 

 

 

 467,266 

Total SBA, SBA 504 and commercial loans

 

$

 502,572 

 

$

 26,388 

 

$

 4,651 

 

$

 533,611 



 

 

 

 

 

 

 

 

 

 

 

 



 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

$

 257,808 

 

$

 3,149 

 

$

 260,957 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 

 44,145 

 

 

 428 

 

 

 44,573 

Consumer other

 

 

 

 

 

 34,625 

 

 

 -

 

 

 34,625 

Total consumer loans

 

 

 

 

 

 78,770 

 

 

 428 

 

 

 79,198 

Total residential mortgage and consumer loans

 

 

 

 

$

 336,578 

 

$

 3,577 

 

$

 340,155 



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, 2015: 

 









 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2015



 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held for investment

 

$

 35,032 

 

$

 2,647 

 

$

 1,714 

 

$

 39,393 

SBA 504 loans

 

 

 24,003 

 

 

 4,917 

 

 

 433 

 

 

 29,353 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 45,870 

 

 

 2,373 

 

 

 1,089 

 

 

 49,332 

Commercial real estate

 

 

 369,510 

 

 

 18,978 

 

 

 2,583 

 

 

 391,071 

Commercial real estate construction

 

 

 24,061 

 

 

 1,054 

 

 

 -

 

 

 25,115 

Total commercial loans

 

 

 439,441 

 

 

 22,405 

 

 

 3,672 

 

 

 465,518 

Total SBA, SBA 504 and commercial loans

 

$

 498,476 

 

$

 29,969 

 

$

 5,819 

 

$

 534,264 



 

 

 

 

 

 

 

 

 

 

 

 



 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

$

 262,299 

 

$

 2,224 

 

$

 264,523 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 

 44,452 

 

 

 590 

 

 

 45,042 

Consumer other

 

 

 

 

 

 32,015 

 

 

 -

 

 

 32,015 

Total consumer loans

 

 

 

 

 

 76,467 

 

 

 590 

 

 

 77,057 

Total residential mortgage and consumer loans

 

 

 

 

$

 338,766 

 

$

 2,814 

 

$

 341,580 



Aging Analysis of Past Due and Nonaccrual Loans by Loan Class









 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

March 31, 2016

(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

 

$

 1,048 

 

$

 1,181 

 

$

 -

 

$

 1,861 

 

$

 4,090 

 

$

 34,773 

 

$

 38,863 

SBA 504 loans

 

 

 -

 

 

 -

 

 

 -

 

 

 513 

 

 

 513 

 

 

 26,969 

 

 

 27,482 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 25 

 

 

 548 

 

 

 -

 

 

 91 

 

 

 664 

 

 

 49,612 

 

 

 50,276 

Commercial real estate

 

 

 570 

 

 

 -

 

 

 -

 

 

 489 

 

 

 1,059 

 

 

 389,286 

 

 

 390,345 

Commercial real estate construction

 

 

 -

 

 

 -

 

 

 -

 

 

 356 

 

 

 356 

 

 

 26,289 

 

 

 26,645 

Residential mortgage loans

 

 

 1,426 

 

 

 1,113 

 

 

 -

 

 

 3,149 

 

 

 5,688 

 

 

 255,269 

 

 

 260,957 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 141 

 

 

 80 

 

 

 -

 

 

 428 

 

 

 649 

 

 

 43,924 

 

 

 44,573 

Consumer other

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 34,625 

 

 

 34,625 

Total loans held for investment

 

$

 3,210 

 

$

 2,922 

 

$

 -

 

$

 6,887 

 

$

 13,019 

 

$

 860,747 

 

$

 873,766 

SBA loans held for sale

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 13,224 

 

 

 13,224 

Total loans

 

$

 3,210 

 

$

 2,922 

 

$

 -

 

$

 6,887 

 

$

 13,019 

 

$

 873,971 

 

$

 886,990 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

At March 31, 2016, nonaccrual loans included $293 thousand of TDRs and $243 thousand of loans guaranteed by the SBA.  The remaining $844 thousand of TDRs are in accrual status because they are performing in accordance with their restructured terms. 





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2015

(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

 

$

 1,153 

 

$

 456 

 

$

 -

 

$

 1,764 

 

$

 3,373 

 

$

 36,020 

 

$

 39,393 

SBA 504 loans

 

 

 -

 

 

 -

 

 

 -

 

 

 518 

 

 

 518 

 

 

 28,835 

 

 

 29,353 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 157 

 

 

 -

 

 

 -

 

 

 10 

 

 

 167 

 

 

 49,165 

 

 

 49,332 

Commercial real estate

 

 

 444 

 

 

 283 

 

 

 -

 

 

 2,154 

 

 

 2,881 

 

 

 388,190 

 

 

 391,071 

Commercial real estate construction

 

 

 356 

 

 

 -

 

 

 -

 

 

 -

 

 

 356 

 

 

 24,759 

 

 

 25,115 

Residential mortgage loans

 

 

 2,307 

 

 

 1,078 

 

 

 -

 

 

 2,224 

 

 

 5,609 

 

 

 258,914 

 

 

 264,523 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 130 

 

 

 3 

 

 

 -

 

 

 590 

 

 

 723 

 

 

 44,319 

 

 

 45,042 

Consumer other

 

 

 1 

 

 

 -

 

 

 -

 

 

 -

 

 

 1 

 

 

 32,014 

 

 

 32,015 

Total loans held for investment

 

$

 4,548 

 

$

 1,820 

 

$

 -

 

$

 7,260 

 

$

 13,628 

 

$

 862,216 

 

$

 875,844 

SBA loans held for sale

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 13,114 

 

 

 13,114 

Total loans

 

$

 4,548 

 

$

 1,820 

 

$

 -

 

$

 7,260 

 

$

 13,628 

 

$

 875,330 

 

$

 888,958 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2015, nonaccrual loans included $293 thousand of TDRs and $288 thousand of loans guaranteed by the SBA.  The remaining $3.0 million of TDRs are in accrual status because they are performing in accordance with their restructured terms.

Impaired Loans with Associated Allowance Amount

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 March 31, 2016: 







 

 

 

 

 

 

 

 

 



 

March 31, 2016

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

$

 1,127 

 

$

 685 

 

$

 -

SBA 504 loans

 

 

 513 

 

 

 513 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial real estate

 

 

 1,297 

 

 

 1,296 

 

 

 -

Total commercial loans

 

 

 1,297 

 

 

 1,296 

 

 

 -

Total impaired loans with no related allowance

 

 

 2,937 

 

 

 2,494 

 

 

 -



 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 

 1,784 

 

 

 970 

 

 

 567 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 114 

 

 

 91 

 

 

 91 

Commercial real estate

 

 

 -

 

 

 -

 

 

 1 

Commercial real estate construction

 

 

 356 

 

 

 356 

 

 

 59 

Total commercial loans

 

 

 470 

 

 

 447 

 

 

 151 

Total impaired loans with a related allowance

 

 

 2,254 

 

 

 1,417 

 

 

 718 



 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 

 2,911 

 

 

 1,655 

 

 

 567 

SBA 504 loans

 

 

 513 

 

 

 513 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 114 

 

 

 91 

 

 

 91 

Commercial real estate

 

 

 1,297 

 

 

 1,296 

 

 

 1 

Commercial real estate construction

 

 

 356 

 

 

 356 

 

 

 59 

Total commercial loans

 

 

 1,767 

 

 

 1,743 

 

 

 151 

Total individually evaluated impaired loans

 

$

 5,191 

 

$

 3,911 

 

$

 718 



(1)

Balances are reduced by amount guaranteed by the SBA of $243 thousand at March 31, 2016.



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, 2015:







 

 

 

 

 

 

 

 

 



 

December 31, 2015

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

$

 961 

 

$

 518 

 

$

 -

SBA 504 loans

 

 

 2,226 

 

 

 2,226 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial real estate

 

 

 1,365 

 

 

 1,366 

 

 

 -

Total commercial loans

 

 

 1,365 

 

 

 1,366 

 

 

 -

Total impaired loans with no related allowance

 

 

 4,552 

 

 

 4,110 

 

 

 -



 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 

 2,203 

 

 

 1,389 

 

 

 705 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 33 

 

 

 10 

 

 

 10 

Commercial real estate

 

 

 1,664 

 

 

 1,664 

 

 

 127 

Total commercial loans

 

 

 1,697 

 

 

 1,674 

 

 

 137 

Total impaired loans with a related allowance

 

 

 3,900 

 

 

 3,063 

 

 

 842 



 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 

 3,164 

 

 

 1,907 

 

 

 705 

SBA 504 loans

 

 

 2,226 

 

 

 2,226 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 33 

 

 

 10 

 

 

 10 

Commercial real estate

 

 

 3,029 

 

 

 3,030 

 

 

 127 

Total commercial loans

 

 

 3,062 

 

 

 3,040 

 

 

 137 

Total individually evaluated impaired loans

 

$

 8,452 

 

$

 7,173 

 

$

 842 



Balances are reduced by amount guaranteed by the SBA of $288 thousand at December 31, 2015.

Average Recorded Investments in Impaired Loans and Related Amount of Interest Recognized



 

 

 

 

 

 

 

 

 

 

 

 



 

For the three months ended March 31,



 

2016

 

2015

(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)

 

$

 2,004 

 

$

 2 

 

$

 1,997 

 

$

 133 

SBA 504 loans

 

 

 1,652 

 

 

 -

 

 

 3,871 

 

 

 26 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 62 

 

 

 25 

 

 

 1,117 

 

 

 18 

Commercial real estate

 

 

 2,052 

 

 

 13 

 

 

 5,036 

 

 

 62 

Commercial real estate construction

 

 

 238 

 

 

 -

 

 

 -

 

 

 -

Total

 

$

 6,008 

 

$

 40 

 

$

 12,021 

 

$

 239 



(1)

Balances are reduced by the average amount guaranteed by the SBA of $265 thousand and $800 thousand for the three months ended March 31, 2016 and 2015, respectively.