Loan Portfolio (Tables) | 3 Months Ended |
Mar. 31, 2014 |
Composition of Loan Portfolio | ' |
The following table sets forth the composition of the Company’s loan portfolio in dollar amounts and as a percentage of the Company’s total gross loans at the dates indicated: |
|
| | March 31, 2014 | | December 31, 2013 | | | | | | | | | | |
(dollars in thousands) | | Amount | | Percent | | Amount | | Percent | | | | | | | | | | |
Commercial, industrial and agricultural | | $ | 54,385 | | | 7.96 | % | $ | 53,673 | | | 8.17 | % | | | | | | | | | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | | 242,280 | | | 35.48 | % | | 218,472 | | | 33.25 | % | | | | | | | | | |
Home equity lines | | | 98,287 | | | 14.39 | % | | 99,839 | | | 15.19 | % | | | | | | | | | |
Total real estate - one to four family residential | | | 340,567 | | | 49.87 | % | | 318,311 | | | 48.44 | % | | | | | | | | | |
Real estate - multifamily residential | | | 20,418 | | | 2.99 | % | | 18,077 | | | 2.75 | % | | | | | | | | | |
Real estate - construction: | | | | | | | | | | | | | | | | | | | | | | |
One to four family residential | | | 16,733 | | | 2.45 | % | | 16,169 | | | 2.46 | % | | | | | | | | | |
Other construction, land development and other land | | | 24,217 | | | 3.55 | % | | 21,690 | | | 3.3 | % | | | | | | | | | |
Total real estate - construction | | | 40,950 | | | 6 | % | | 37,859 | | | 5.76 | % | | | | | | | | | |
Real estate - farmland | | | 7,024 | | | 1.03 | % | | 8,172 | | | 1.24 | % | | | | | | | | | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | | 126,837 | | | 18.57 | % | | 126,569 | | | 19.26 | % | | | | | | | | | |
Non-owner occupied | | | 74,058 | | | 10.84 | % | | 74,831 | | | 11.39 | % | | | | | | | | | |
Total real estate - non-farm, non-residential | | | 200,895 | | | 29.41 | % | | 201,400 | | | 30.65 | % | | | | | | | | | |
Consumer | | | 16,390 | | | 2.4 | % | | 16,782 | | | 2.55 | % | | | | | | | | | |
Other | | | 2,323 | | | 0.34 | % | | 2,923 | | | 0.44 | % | | | | | | | | | |
Total loans | | | 682,952 | | | 100 | % | | 657,197 | | | 100 | % | | | | | | | | | |
Less allowance for loan losses | | | -14,906 | | | | | | -14,767 | | | | | | | | | | | | | |
Loans, net | | $ | 668,046 | | | | | $ | 642,430 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
Aging of Recorded Investment in Past Due Loans | ' |
The following table presents the aging of the recorded investment in past due loans as of March 31, 2014 by class of loans: |
|
(dollars in thousands) | | 30-59 Days | | 60-89 Days | | Over 90 Days | | Total Past Due | | Total | | Total Loans | | | | |
Past Due | Past Due | Past Due | Current* | | | |
Commercial, industrial and agricultural | | $ | 372 | | $ | 24 | | $ | 284 | | $ | 680 | | $ | 53,705 | | $ | 54,385 | | | | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | | 5,883 | | | 577 | | | 2,449 | | | 8,909 | | | 233,371 | | | 242,280 | | | | |
Home equity lines | | | 764 | | | 165 | | | 47 | | | 976 | | | 97,311 | | | 98,287 | | | | |
Total real estate - one to four family residential | | | 6,647 | | | 742 | | | 2,496 | | | 9,885 | | | 330,682 | | | 340,567 | | | | |
Real estate - multifamily residential | | | - | | | - | | | - | | | - | | | 20,418 | | | 20,418 | | | | |
Real estate - construction: | | | | | | | | | | | | | | | | | | | | | | |
One to four family residential | | | 326 | | | 24 | | | 132 | | | 482 | | | 16,251 | | | 16,733 | | | | |
Other construction, land development and other land | | | 12 | | | - | | | - | | | 12 | | | 24,205 | | | 24,217 | | | | |
Total real estate - construction | | | 338 | | | 24 | | | 132 | | | 494 | | | 40,456 | | | 40,950 | | | | |
Real estate - farmland | | | 330 | | | - | | | 590 | | | 920 | | | 6,104 | | | 7,024 | | | | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | | 1,296 | | | 269 | | | 2,060 | | | 3,625 | | | 123,212 | | | 126,837 | | | | |
Non-owner occupied | | | - | | | - | | | 623 | | | 623 | | | 73,435 | | | 74,058 | | | | |
Total real estate - non-farm, non-residential | | | 1,296 | | | 269 | | | 2,683 | | | 4,248 | | | 196,647 | | | 200,895 | | | | |
Consumer | | | 160 | | | 15 | | | 104 | | | 279 | | | 16,111 | | | 16,390 | | | | |
Other | | | 8 | | | - | | | - | | | 8 | | | 2,315 | | | 2,323 | | | | |
Total loans | | $ | 9,151 | | $ | 1,074 | | $ | 6,289 | | $ | 16,514 | | $ | 666,438 | | $ | 682,952 | | | | |
|
* For purposes of this table only, the "Total Current" column includes loans that are 1-29 days past due. |
|
The following table presents the aging of the recorded investment in past due loans as of December 31, 2013 by class of loans: |
|
(dollars in thousands) | | 30-59 Days | | 60-89 Days | | Over 90 Days | | Total Past Due | | Total | | Total | | | | |
Past Due | Past Due | Past Due | Current* | Loans | | | |
Commercial, industrial and agricultural | | $ | 2,083 | | $ | 170 | | $ | 383 | | $ | 2,636 | | $ | 51,037 | | $ | 53,673 | | | | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | | 6,217 | | | 1,513 | | | 2,564 | | | 10,294 | | | 208,178 | | | 218,472 | | | | |
Home equity lines | | | 700 | | | 303 | | | 353 | | | 1,356 | | | 98,483 | | | 99,839 | | | | |
Total real estate - one to four family residential | | | 6,917 | | | 1,816 | | | 2,917 | | | 11,650 | | | 306,661 | | | 318,311 | | | | |
Real estate - multifamily residential | | | - | | | - | | | - | | | - | | | 18,077 | | | 18,077 | | | | |
Real estate - construction: | | | | | | | | | | | | | | | | | | | | | | |
One to four family residential | | | 112 | | | 176 | | | 132 | | | 420 | | | 15,749 | | | 16,169 | | | | |
Other construction, land development and other land | | | 167 | | | - | | | 137 | | | 304 | | | 21,386 | | | 21,690 | | | | |
Total real estate - construction | | | 279 | | | 176 | | | 269 | | | 724 | | | 37,135 | | | 37,859 | | | | |
Real estate - farmland | | | 808 | | | - | | | 590 | | | 1,398 | | | 6,774 | | | 8,172 | | | | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | | 2,933 | | | - | | | 3,074 | | | 6,007 | | | 120,562 | | | 126,569 | | | | |
Non-owner occupied | | | 1,779 | | | - | | | 23 | | | 1,802 | | | 73,029 | | | 74,831 | | | | |
Total real estate - non-farm, non-residential | | | 4,712 | | | - | | | 3,097 | | | 7,809 | | | 193,591 | | | 201,400 | | | | |
Consumer | | | 283 | | | 21 | | | 166 | | | 470 | | | 16,312 | | | 16,782 | | | | |
Other | | | 7 | | | - | | | - | | | 7 | | | 2,916 | | | 2,923 | | | | |
Total loans | | $ | 15,089 | | $ | 2,183 | | $ | 7,422 | | $ | 24,694 | | $ | 632,503 | | $ | 657,197 | | | | |
|
* For purposes of this table only, the "Total Current" column includes loans that are 1-29 days past due. |
| | | | | | | | | | | | | | | | | | | | | | |
Nonaccural Loans, Loans Past Due Ninety Days and Accruing Interest, and Restructured Loans | ' |
The following table presents nonaccrual loans, loans past due 90 days and accruing interest, and restructured loans at the dates indicated: |
|
| | March 31, | | December 31, | | | | | | | | | | | | | | | | |
(dollars in thousands) | | 2014 | | 2013 | | | | | | | | | | | | | | | | |
Nonaccrual loans | | $ | 8,262 | | $ | 11,018 | | | | | | | | | | | | | | | | |
Loans past due 90 days and accruing interest | | | - | | | - | | | | | | | | | | | | | | | | |
Restructured loans (accruing) | | | 17,440 | | | 16,026 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
Recorded Investment in Nonaccrual Loans and Loans Past Due Ninety Days and Accruing Interest by Class | ' |
The following table presents the recorded investment in nonaccrual loans by class at March 31, 2014 and December 31, 2013: |
|
| | Nonaccrual | | | | | | | | | | | | | | | | |
| | March 31, | | December 31, | | | | | | | | | | | | | | | | |
(dollars in thousands) | | 2014 | | 2013 | | | | | | | | | | | | | | | | |
Commercial, industrial and agricultural | | $ | 218 | | $ | 383 | | | | | | | | | | | | | | | | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | | 4,178 | | | 5,630 | | | | | | | | | | | | | | | | |
Home equity lines | | | 258 | | | 688 | | | | | | | | | | | | | | | | |
Total real estate - one to four family residential | | | 4,436 | | | 6,318 | | | | | | | | | | | | | | | | |
Real estate - construction: | | | | | | | | | | | | | | | | | | | | | | |
One to four family residential | | | 132 | | | 318 | | | | | | | | | | | | | | | | |
Other construction, land development and other land | | | - | | | 137 | | | | | | | | | | | | | | | | |
Total real estate - construction | | | 132 | | | 455 | | | | | | | | | | | | | | | | |
Real estate - farmland | | | 590 | | | 590 | | | | | | | | | | | | | | | | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | | 2,060 | | | 3,074 | | | | | | | | | | | | | | | | |
Non-owner occupied | | | 623 | | | 23 | | | | | | | | | | | | | | | | |
Total real estate - non-farm, non-residential | | | 2,683 | | | 3,097 | | | | | | | | | | | | | | | | |
Consumer | | | 203 | | | 175 | | | | | | | | | | | | | | | | |
Total loans | | $ | 8,262 | | $ | 11,018 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
Commercial Loans by Credit Quality Indicator | ' |
The following table presents commercial loans by credit quality indicator at March 31, 2014: |
|
(dollars in thousands) | | Pass | | Special Mention | | Substandard | | Doubtful | | Impaired | | Total | | | | |
Commercial, industrial and agricultural | | $ | 45,988 | | $ | 3,204 | | $ | 3,119 | | $ | 84 | | $ | 1,990 | | $ | 54,385 | | | | |
Real estate - multifamily residential | | | 20,418 | | | - | | | - | | | - | | | - | | | 20,418 | | | | |
Real estate - construction: | | | | | | | | | | | | | | | | | | | | | | |
One to four family residential | | | 15,647 | | | 232 | | | 551 | | | - | | | 303 | | | 16,733 | | | | |
Other construction, land development and other land | | | 5,079 | | | 6,643 | | | 6,834 | | | - | | | 5,661 | | | 24,217 | | | | |
Total real estate - construction | | | 20,726 | | | 6,875 | | | 7,385 | | | - | | | 5,964 | | | 40,950 | | | | |
Real estate - farmland | | | 6,097 | | | 337 | | | 590 | | | - | | | - | | | 7,024 | | | | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | | 92,629 | | | 11,588 | | | 12,203 | | | - | | | 10,417 | | | 126,837 | | | | |
Non-owner occupied | | | 53,306 | | | 6,596 | | | 5,471 | | | - | | | 8,685 | | | 74,058 | | | | |
Total real estate - non-farm, non-residential | | | 145,935 | | | 18,184 | | | 17,674 | | | - | | | 19,102 | | | 200,895 | | | | |
Total commercial loans | | $ | 239,164 | | $ | 28,600 | | $ | 28,768 | | $ | 84 | | $ | 27,056 | | $ | 323,672 | | | | |
|
The following table presents commercial loans by credit quality indicator at December 31, 2013: |
|
(dollars in thousands) | | Pass | | Special Mention | | Substandard | | Doubtful | | Impaired | | Total | | | | |
Commercial, industrial and agricultural | | $ | 44,571 | | $ | 3,851 | | $ | 3,229 | | $ | 22 | | $ | 2,000 | | $ | 53,673 | | | | |
Real estate - multifamily residential | | | 18,077 | | | - | | | - | | | - | | | - | | | 18,077 | | | | |
Real estate - construction: | | | | | | | | | | | | | | | | | | | | | | |
One to four family residential | | | 14,890 | | | 235 | | | 738 | | | - | | | 306 | | | 16,169 | | | | |
Other construction, land development and other land | | | 6,638 | | | 7,104 | | | 4,634 | | | - | | | 3,314 | | | 21,690 | | | | |
Total real estate - construction | | | 21,528 | | | 7,339 | | | 5,372 | | | - | | | 3,620 | | | 37,859 | | | | |
Real estate - farmland | | | 6,288 | | | 338 | | | 1,068 | | | - | | | 478 | | | 8,172 | | | | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | | 87,187 | | | 13,341 | | | 15,983 | | | - | | | 10,058 | | | 126,569 | | | | |
Non-owner occupied | | | 43,406 | | | 15,533 | | | 7,520 | | | - | | | 8,372 | | | 74,831 | | | | |
Total real estate - non-farm, non-residential | | | 130,593 | | | 28,874 | | | 23,503 | | | - | | | 18,430 | | | 201,400 | | | | |
Total commercial loans | | $ | 221,057 | | $ | 40,402 | | $ | 33,172 | | $ | 22 | | $ | 24,528 | | $ | 319,181 | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
Consumer Loans, Including One to Four Family Residential First and Seconds and Home Equity Lines, by Payment Activity | ' |
The following table presents consumer loans, including one to four family residential first and seconds and home equity lines, by payment activity at March 31, 2014: |
|
(dollars in thousands) | | Performing | | Nonperforming | | Total | | | | | | | | | | | | | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | $ | 229,905 | | $ | 12,375 | | $ | 242,280 | | | | | | | | | | | | | |
Home equity lines | | | 98,065 | | | 222 | | | 98,287 | | | | | | | | | | | | | |
Total real estate - one to four family residential | | | 327,970 | | | 12,597 | | | 340,567 | | | | | | | | | | | | | |
Consumer | | | 15,627 | | | 763 | | | 16,390 | | | | | | | | | | | | | |
Other | | | 1,855 | | | 468 | | | 2,323 | | | | | | | | | | | | | |
Total consumer loans | | $ | 345,452 | | $ | 13,828 | | $ | 359,280 | | | | | | | | | | | | | |
|
The following table presents consumer loans, including one to four family residential first and seconds and home equity lines, by payment activity at December 31, 2013: |
|
(dollars in thousands) | | Performing | | Nonperforming | | Total | | | | | | | | | | | | | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | $ | 205,860 | | $ | 12,612 | | $ | 218,472 | | | | | | | | | | | | | |
Home equity lines | | | 99,311 | | | 528 | | | 99,839 | | | | | | | | | | | | | |
Total real estate - one to four family residential | | | 305,171 | | | 13,140 | | | 318,311 | | | | | | | | | | | | | |
Consumer | | | 16,314 | | | 468 | | | 16,782 | | | | | | | | | | | | | |
Other | | | 2,451 | | | 472 | | | 2,923 | | | | | | | | | | | | | |
Total consumer loans | | $ | 323,936 | | $ | 14,080 | | $ | 338,016 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
Rollforward of Allowance for Loan Losses | ' |
The following table presents a rollforward of the Company’s allowance for loan losses for the three months ended March 31, 2014: |
|
| | Beginning Balance | | | | | | | | Ending Balance | | | | | | | |
(dollars in thousands) | | January 1, 2014 | | Charge-offs | | Recoveries | | Provision | | March 31, 2014 | | | | | | | |
Commercial, industrial and agricultural | | $ | 1,787 | | $ | -213 | | $ | 11 | | $ | -54 | | $ | 1,531 | | | | | | | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | | 2,859 | | | -77 | | | 205 | | | 97 | | | 3,084 | | | | | | | |
Home equity lines | | | 1,642 | | | -54 | | | 2 | | | 49 | | | 1,639 | | | | | | | |
Total real estate - one to four family residential | | | 4,501 | | | -131 | | | 207 | | | 146 | | | 4,723 | | | | | | | |
Real estate - multifamily residential | | | 79 | | | - | | | - | | | 18 | | | 97 | | | | | | | |
Real estate - construction: | | | | | | | | | | | | | | | | | | | | | | |
One to four family residential | | | 364 | | | - | | | 5 | | | -60 | | | 309 | | | | | | | |
Other construction, land development and other land | | | 1,989 | | | - | | | 1 | | | 512 | | | 2,502 | | | | | | | |
Total real estate - construction | | | 2,353 | | | - | | | 6 | | | 452 | | | 2,811 | | | | | | | |
Real estate - farmland | | | 116 | | | - | | | - | | | 3 | | | 119 | | | | | | | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | | 3,236 | | | - | | | - | | | -437 | | | 2,799 | | | | | | | |
Non-owner occupied | | | 1,770 | | | - | | | 2 | | | -166 | | | 1,606 | | | | | | | |
Total real estate - non-farm, non-residential | | | 5,006 | | | - | | | 2 | | | -603 | | | 4,405 | | | | | | | |
Consumer | | | 387 | | | -13 | | | 28 | | | 78 | | | 480 | | | | | | | |
Other | | | 538 | | | -15 | | | 7 | | | 210 | | | 740 | | | | | | | |
Total | | $ | 14,767 | | $ | -372 | | $ | 261 | | $ | 250 | | $ | 14,906 | | | | | | | |
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The following table presents a rollforward of the Company’s allowance for loan losses for the three months ended March 31, 2013: |
|
| | Beginning Balance | | | | | | | | Ending Balance | | | | | | | |
(dollars in thousands) | | January 1, 2013 | | Charge-offs | | Recoveries | | Provision | | March 31, 2013 | | | | | | | |
Commercial, industrial and agricultural | | $ | 2,340 | | $ | -495 | | $ | 45 | | $ | 572 | | $ | 2,462 | | | | | | | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | | 2,876 | | | -96 | | | 29 | | | -13 | | | 2,796 | | | | | | | |
Home equity lines | | | 720 | | | -10 | | | 1 | | | - | | | 711 | | | | | | | |
Total real estate - one to four family residential | | | 3,596 | | | -106 | | | 30 | | | -13 | | | 3,507 | | | | | | | |
Real estate - multifamily residential | | | 62 | | | - | | | - | | | -3 | | | 59 | | | | | | | |
Real estate - construction: | | | | | | | | | | | | | | | | | | | | | | |
One to four family residential | | | 419 | | | - | | | 30 | | | -8 | | | 441 | | | | | | | |
Other construction, land development and other land | | | 3,897 | | | -950 | | | 67 | | | 464 | | | 3,478 | | | | | | | |
Total real estate - construction | | | 4,316 | | | -950 | | | 97 | | | 456 | | | 3,919 | | | | | | | |
Real estate - farmland | | | 41 | | | - | | | - | | | -6 | | | 35 | | | | | | | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | | 5,092 | | | -1 | | | - | | | -21 | | | 5,070 | | | | | | | |
Non-owner occupied | | | 4,093 | | | - | | | - | | | -382 | | | 3,711 | | | | | | | |
Total real estate - non-farm, non-residential | | | 9,185 | | | -1 | | | - | | | -403 | | | 8,781 | | | | | | | |
Consumer | | | 215 | | | -26 | | | 17 | | | -8 | | | 198 | | | | | | | |
Other | | | 583 | | | -40 | | | 7 | | | 5 | | | 555 | | | | | | | |
Total | | $ | 20,338 | | $ | -1,618 | | $ | 196 | | $ | 600 | | $ | 19,516 | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Class Based on Impairment | ' |
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio class based on impairment method as of March 31, 2014: |
|
| | Allowance allocated to loans: | | Total Loans: | | | | |
(dollars in thousands) | | Individually | | Collectively | | Total | | Individually | | Collectively | | Total | | | | |
evaluated for | evaluated for | evaluated for | evaluated for | | | |
impairment | impairment | impairment | impairment | | | |
Commercial, industrial and agricultural | | $ | 584 | | $ | 947 | | $ | 1,531 | | $ | 1,990 | | $ | 52,395 | | $ | 54,385 | | | | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | | 2,014 | | | 1,070 | | | 3,084 | | | 9,926 | | | 232,354 | | | 242,280 | | | | |
Home equity lines | | | - | | | 1,639 | | | 1,639 | | | 175 | | | 98,112 | | | 98,287 | | | | |
Total real estate - one to four family residential | | | 2,014 | | | 2,709 | | | 4,723 | | | 10,101 | | | 330,466 | | | 340,567 | | | | |
Real estate - multifamily residential | | | - | | | 97 | | | 97 | | | - | | | 20,418 | | | 20,418 | | | | |
Real estate - construction: | | | | | | | | | | | | | | | | | | | | | | |
One to four family residential | | | 177 | | | 132 | | | 309 | | | 303 | | | 16,430 | | | 16,733 | | | | |
Other construction, land development and other land | | | 1,382 | | | 1,120 | | | 2,502 | | | 5,661 | | | 18,556 | | | 24,217 | | | | |
Total real estate - construction | | | 1,559 | | | 1,252 | | | 2,811 | | | 5,964 | | | 34,986 | | | 40,950 | | | | |
Real estate - farmland | | | - | | | 119 | | | 119 | | | - | | | 7,024 | | | 7,024 | | | | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | | 1,098 | | | 1,701 | | | 2,799 | | | 10,417 | | | 116,420 | | | 126,837 | | | | |
Non-owner occupied | | | 641 | | | 965 | | | 1,606 | | | 8,685 | | | 65,373 | | | 74,058 | | | | |
Total real estate - non-farm, non-residential | | | 1,739 | | | 2,666 | | | 4,405 | | | 19,102 | | | 181,793 | | | 200,895 | | | | |
Consumer | | | 230 | | | 250 | | | 480 | | | 659 | | | 15,731 | | | 16,390 | | | | |
Other | | | 312 | | | 428 | | | 740 | | | 468 | | | 1,855 | | | 2,323 | | | | |
Total | | $ | 6,438 | | $ | 8,468 | | $ | 14,906 | | $ | 38,284 | | $ | 644,668 | | $ | 682,952 | | | | |
|
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio class based on impairment method as of December 31, 2013: |
|
| | Allowance allocated to loans: | | Total Loans: | | | | |
(dollars in thousands) | | Individually | | Collectively | | Total | | Individually | | Collectively | | Total | | | | |
evaluated for | evaluated for | evaluated for | evaluated for | | | |
impairment | impairment | impairment | impairment | | | |
Commercial, industrial and agricultural | | $ | 612 | | $ | 1,175 | | $ | 1,787 | | $ | 2,000 | | $ | 51,673 | | $ | 53,673 | | | | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | | 1,833 | | | 1,026 | | | 2,859 | | | 10,048 | | | 208,424 | | | 218,472 | | | | |
Home equity lines | | | - | | | 1,642 | | | 1,642 | | | 175 | | | 99,664 | | | 99,839 | | | | |
Total real estate - one to four family residential | | | 1,833 | | | 2,668 | | | 4,501 | | | 10,223 | | | 308,088 | | | 318,311 | | | | |
Real estate - multifamily residential | | | - | | | 79 | | | 79 | | | - | | | 18,077 | | | 18,077 | | | | |
Real estate - construction: | | | | | | | | | | | | | | | | | | | | | | |
One to four family residential | | | 180 | | | 184 | | | 364 | | | 306 | | | 15,863 | | | 16,169 | | | | |
Other construction, land development and other land | | | 802 | | | 1,187 | | | 1,989 | | | 3,314 | | | 18,376 | | | 21,690 | | | | |
Total real estate - construction | | | 982 | | | 1,371 | | | 2,353 | | | 3,620 | | | 34,239 | | | 37,859 | | | | |
Real estate - farmland | | | - | | | 116 | | | 116 | | | 478 | | | 7,694 | | | 8,172 | | | | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | | 1,223 | | | 2,013 | | | 3,236 | | | 10,058 | | | 116,511 | | | 126,569 | | | | |
Non-owner occupied | | | 617 | | | 1,153 | | | 1,770 | | | 8,372 | | | 66,459 | | | 74,831 | | | | |
Total real estate - non-farm, non-residential | | | 1,840 | | | 3,166 | | | 5,006 | | | 18,430 | | | 182,970 | | | 201,400 | | | | |
Consumer | | | 104 | | | 283 | | | 387 | | | 302 | | | 16,480 | | | 16,782 | | | | |
Other | | | 311 | | | 227 | | | 538 | | | 472 | | | 2,451 | | | 2,923 | | | | |
Total | | $ | 5,682 | | $ | 9,085 | | $ | 14,767 | | $ | 35,525 | | $ | 621,672 | | $ | 657,197 | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
Impairment by Class of Loans | ' |
The following table presents loans individually evaluated for impairment by class of loans as of March 31, 2014: |
|
(dollars in thousands) | | Recorded | | Unpaid | | Recorded | | Recorded | | Related | | Average | | Interest | |
Investment | Principal | Investment With | Investment With | Allowance | Recorded | Income |
| Balance | No Allowance | Allowance | | Investment | Recognized |
Commercial, industrial and agricultural | | $ | 1,990 | | $ | 1,990 | | $ | - | | $ | 1,990 | | $ | 584 | | $ | 1,997 | | $ | 43 | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | | 9,926 | | | 10,026 | | | 1,996 | | | 7,930 | | | 2,014 | | | 9,977 | | | 110 | |
Home equity lines | | | 175 | | | 175 | | | 175 | | | - | | | - | | | 175 | | | - | |
Total real estate - one to four family residential | | | 10,101 | | | 10,201 | | | 2,171 | | | 7,930 | | | 2,014 | | | 10,152 | | | 110 | |
Real estate - construction: | | | | | | | | | | | | | | | | | | | | | | |
One to four family residential | | | 303 | | | 303 | | | - | | | 303 | | | 177 | | | 305 | | | 2 | |
Other construction, land development and other land | | | 5,661 | | | 5,661 | | | - | | | 5,661 | | | 1,382 | | | 4,488 | | | 69 | |
Total real estate - construction | | | 5,964 | | | 5,964 | | | - | | | 5,964 | | | 1,559 | | | 4,793 | | | 71 | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | | 10,417 | | | 11,903 | | | 6,714 | | | 3,703 | | | 1,098 | | | 10,339 | | | 35 | |
Non-owner occupied | | | 8,685 | | | 8,685 | | | 4,703 | | | 3,982 | | | 641 | | | 8,604 | | | 45 | |
Total real estate - non-farm, non-residential | | | 19,102 | | | 20,588 | | | 11,417 | | | 7,685 | | | 1,739 | | | 18,943 | | | 80 | |
Consumer | | | 659 | | | 659 | | | - | | | 659 | | | 230 | | | 390 | | | 11 | |
Other | | | 468 | | | 468 | | | - | | | 468 | | | 312 | | | 470 | | | - | |
Total loans | | $ | 38,284 | | $ | 39,870 | | $ | 13,588 | | $ | 24,696 | | $ | 6,438 | | $ | 36,745 | | $ | 315 | |
|
The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2013: |
|
(dollars in thousands) | | Recorded | | Unpaid | | Recorded | | Recorded | | Related | | Average | | Interest | |
Investment | Principal | Investment With | Investment With | Allowance | Recorded | Income |
| Balance | No Allowance | Allowance | | Investment | Recognized |
Commercial, industrial and agricultural | | $ | 2,000 | | $ | 2,000 | | $ | - | | $ | 2,000 | | $ | 612 | | $ | 1,712 | | $ | 97 | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | | 10,048 | | | 10,148 | | | 2,008 | | | 8,040 | | | 1,833 | | | 8,727 | | | 498 | |
Home equity lines | | | 175 | | | 175 | | | 175 | | | - | | | - | | | 382 | | | - | |
Total real estate - one to four family residential | | | 10,223 | | | 10,323 | | | 2,183 | | | 8,040 | | | 1,833 | | | 9,109 | | | 498 | |
Real estate - construction: | | | | | | | | | | | | | | | | | | | | | | |
One to four family residential | | | 306 | | | 306 | | | - | | | 306 | | | 180 | | | 794 | | | 9 | |
Other construction, land development and other land | | | 3,314 | | | 5,662 | | | - | | | 3,314 | | | 802 | | | 8,581 | | | 161 | |
Total real estate - construction | | | 3,620 | | | 5,968 | | | - | | | 3,620 | | | 982 | | | 9,375 | | | 170 | |
Real estate - farmland | | | 478 | | | 478 | | | 478 | | | - | | | - | | | 428 | | | 32 | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | | 10,058 | | | 11,544 | | | 6,730 | | | 3,328 | | | 1,223 | | | 10,472 | | | 506 | |
Non-owner occupied | | | 8,372 | | | 8,372 | | | 4,357 | | | 4,015 | | | 617 | | | 9,353 | | | 348 | |
Total real estate - non-farm, non-residential | | | 18,430 | | | 19,916 | | | 11,087 | | | 7,343 | | | 1,840 | | | 19,825 | | | 854 | |
Consumer | | | 302 | | | 302 | | | - | | | 302 | | | 104 | | | 203 | | | 22 | |
Other | | | 472 | | | 472 | | | 9 | | | 463 | | | 311 | | | 504 | | | - | |
Total loans | | $ | 35,525 | | $ | 39,459 | | $ | 13,757 | | $ | 21,768 | | $ | 5,682 | | $ | 41,156 | | $ | 1,673 | |
| | | | | | | | | | | | | | | | | | | | | | |
Loans Modified as Troubled Debt Restructurings | ' |
The following table presents, by class of loans, information related to loans modified as TDRs during the three months ended March 31, 2014 and 2013: |
|
| | Three Months Ended March 31, 2014 | | Three Months Ended March 31, 2013 | | | | |
(dollars in thousands) | | Number of | | Pre- | | Post- | | Number | | Pre- | | Post- | | | | |
Loans | Modification | Modification | of Loans | Modification | Modification | | | |
| Recorded | Recorded | | Recorded | Recorded | | | |
| Balance | Balance* | | Balance | Balance* | | | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | | - | | $ | - | | $ | - | | | 2 | | $ | 345 | | $ | 345 | | | | |
Real estate - non-farm, non-residential: | | | | | | | | | | | | | | | | | | | | | | |
Non-owner occupied | | | - | | | - | | | - | | | 1 | | | 171 | | | 164 | | | | |
Total | | | - | | $ | - | | $ | - | | | 3 | | $ | 516 | | $ | 509 | | | | |
|
*The period end balances are inclusive of all partial paydowns and charge-offs since the modification date. Loans modified as TDRs that were fully paid down, charged-off, or foreclosed upon by period end are not reported. |
| | | | | | | | | | | | | | | | | | | | | | |
Loans Modified as Troubled Debt Restructurings that Subsequently Defaulted | ' |
The following table presents, by class of loans, information related to loans modified as TDRs that subsequently defaulted (i.e., 90 days or more past due following a modification) during the three months ended March 31, 2014 and 2013 and were modified as TDRs within the 12 months prior to default: |
|
| | Three Months Ended | | Three Months Ended | | | | | | | | | | |
March 31, 2014 | March 31, 2013 | | | | | | | | | |
(dollars in thousands) | | Number of | | Recorded | | Number of | | Recorded | | | | | | | | | | |
Loans | Balance | Loans | Balance | | | | | | | | | |
Real estate - one to four family residential: | | | | | | | | | | | | | | | | | | | | | | |
Closed end first and seconds | | | - | | $ | - | | | 1 | | $ | 179 | | | | | | | | | | |
Total | | | - | | $ | - | | | 1 | | $ | 179 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | |