Loans and Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2014 |
Receivables [Abstract] | ' |
Outstanding loans | ' |
Outstanding loans are summarized as follows: |
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Loan Type (Dollars in thousands) | | September 30, 2014 | | % of Total | | December 31, 2013 | | % of Total | | | | | | | | | | | | | | | | | | |
Loans | Loans | | | | | | | | | | | | | | | | | | |
Commercial: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Commercial and industrial | | $ | 88,756 | | | 16 | % | | $ | 87,082 | | | 17 | % | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Agricultural land and production | | 44,421 | | | 7.9 | % | | 31,649 | | | 6.1 | % | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Total commercial | | 133,177 | | | 23.9 | % | | 118,731 | | | 23.1 | % | | | | | | | | | | | | | | | | | | |
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Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Owner occupied | | 158,339 | | | 28.5 | % | | 156,781 | | | 30.6 | % | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Real estate construction and other land loans | | 43,453 | | | 7.8 | % | | 42,329 | | | 8.3 | % | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Commercial real estate | | 99,966 | | | 18 | % | | 86,117 | | | 16.8 | % | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Agricultural real estate | | 57,807 | | | 10.5 | % | | 44,164 | | | 8.6 | % | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Other real estate | | 4,239 | | | 0.8 | % | | 4,548 | | | 0.9 | % | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Total real estate | | 363,804 | | | 65.6 | % | | 333,939 | | | 65.2 | % | | | | | | | | | | | | | | | | | | |
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Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Equity loans and lines of credit | | 47,812 | | | 8.7 | % | | 48,594 | | | 9.5 | % | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Consumer and installment | | 9,766 | | | 1.8 | % | | 11,252 | | | 2.2 | % | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Total consumer | | 57,578 | | | 10.5 | % | | 59,846 | | | 11.7 | % | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Net deferred origination costs and (fees) | | 177 | | | | | | (159 | ) | | | | | | | | | | | | | | | | | | | | | |
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Total gross loans | | 554,736 | | | 100 | % | | 512,357 | | | 100 | % | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Allowance for credit losses | | (7,489 | ) | | | | | (9,208 | ) | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Total loans | | $ | 547,247 | | | | | | $ | 503,149 | | | | | | | | | | | | | | | | | | | | | | |
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The carrying amounts of such loans (which are included in the carrying amount, net of allowance, described above) are as follows (in thousands): |
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| September 30, 2014 | | December 31, 2013 | | | | | | | | | | | | | | | | | | | | | | | | | |
Loans acquired during the period | $ | — | | | $ | 1,324 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Loans at the end of the period | $ | — | | | $ | 1,324 | | | | | | | | | | | | | | | | | | | | | | | | | | |
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The carrying amount of those loans is included in the balance sheet amounts of loans receivable at September 30, 2014 and December 31, 2013. The amounts of loans at September 30, 2014 and December 31, 2013 are as follows (in thousands): |
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| | September 30, 2014 | | December 31, 2013 | | | | | | | | | | | | | | | | | | | | | | | | |
Real estate | | $ | — | | | $ | 2,465 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Outstanding balance | | $ | — | | | $ | 2,465 | | | | | | | | | | | | | | | | | | | | | | | | | |
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Carrying amount, net of allowance of $0 | | $ | — | | | $ | 2,465 | | | | | | | | | | | | | | | | | | | | | | | | | |
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Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield | ' |
Accretable yield, or income expected to be collected for the three and nine months ended September 30, 2014 and 2013 is as follows (in thousands): |
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| For the Three Months | | For the Nine Months | | | | | | | | | | | | | | | | | |
Ended September 30, | Ended September 30, | | | | | | | | | | | | | | | | | |
| 2014 | | 2013 | | 2014 | | 2013 | | | | | | | | | | | | | | | | | |
Balance at beginning of period | $ | — | | | $ | — | | | $ | 94 | | | $ | — | | | | | | | | | | | | | | | | | | |
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Additions | — | | | 105 | | | — | | | 105 | | | | | | | | | | | | | | | | | | |
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Accretion | — | | | (70 | ) | | (907 | ) | | (70 | ) | | | | | | | | | | | | | | | | | |
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Reclassification from non-accretable difference | — | | | 77 | | | 813 | | | 77 | | | | | | | | | | | | | | | | | | |
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Disposals | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | |
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Balance at end of period | $ | — | | | $ | 112 | | | $ | — | | | $ | 112 | | | | | | | | | | | | | | | | | | |
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Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period | ' |
Loans acquired during each period or year for which it was probable at acquisition that all contractually required payments would not be collected are as follows (in thousands): |
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| September 30, 2014 | | December 31, 2013 | | | | | | | | | | | | | | | | | | | | | | | | | |
Contractually required payments receivable at acquisition: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real estate | $ | — | | | $ | 6,912 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total | $ | — | | | $ | 6,912 | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Cash flows expected to be collected at acquisition | $ | — | | | $ | 2,681 | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Fair value of acquired loans at acquisition | $ | — | | | $ | 2,576 | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Allowance for credit losses | ' |
The following table shows the summary of activities for the allowance for credit losses as of and for the three months ended September 30, 2014 and 2013 by portfolio segment (in thousands): |
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| | Commercial | | Real Estate | | Consumer | | Unallocated | | Total | | | | | | | | | | | | |
Allowance for credit losses: | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | |
Beginning balance, July 1, 2014 | | $ | 1,874 | | | $ | 4,157 | | | $ | 981 | | | $ | 295 | | | $ | 7,307 | | | | | | | | | | | | | |
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Provision charged to operations | | 243 | | | (121 | ) | | (85 | ) | | (37 | ) | | — | | | | | | | | | | | | | |
| | | | | | | | | | | |
Losses charged to allowance | | (1 | ) | | — | | | (57 | ) | | — | | | (58 | ) | | | | | | | | | | | | |
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Recoveries | | 41 | | | 159 | | | 40 | | | — | | | 240 | | | | | | | | | | | | | |
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Ending balance, September 30, 2014 | | $ | 2,157 | | | $ | 4,195 | | | $ | 879 | | | $ | 258 | | | $ | 7,489 | | | | | | | | | | | | | |
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Allowance for credit losses: | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Beginning balance, July 1, 2013 | | $ | 2,792 | | | $ | 5,057 | | | $ | 1,252 | | | $ | 500 | | | $ | 9,601 | | | | | | | | | | | | | |
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Provision charged to operations | | (52 | ) | | (331 | ) | | 48 | | | 335 | | | — | | | | | | | | | | | | | |
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Losses charged to allowance | | (5 | ) | | — | | | (51 | ) | | — | | | (56 | ) | | | | | | | | | | | | |
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Recoveries | | 111 | | | 8 | | | 68 | | | — | | | 187 | | | | | | | | | | | | | |
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Ending balance, September 30, 2013 | | $ | 2,846 | | | $ | 4,734 | | | $ | 1,317 | | | $ | 835 | | | $ | 9,732 | | | | | | | | | | | | | |
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The following table shows the summary of activities for the allowance for credit losses as of and for the nine months |
ended September 30, 2014 and 2013 by portfolio segment of loans (in thousands): |
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| | Commercial | | Real Estate | | Consumer | | Unallocated | | Total | | | | | | | | | | | | |
Allowance for credit losses: | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | |
Beginning balance, January 1, 2014 | | $ | 2,444 | | | $ | 5,174 | | | $ | 1,168 | | | $ | 422 | | | $ | 9,208 | | | | | | | | | | | | | |
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Provision charged to operations | | 768 | | | (970 | ) | | (34 | ) | | (164 | ) | | (400 | ) | | | | | | | | | | | | |
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Losses charged to allowance | | (1,195 | ) | | (183 | ) | | (467 | ) | | — | | | (1,845 | ) | | | | | | | | | | | | |
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Recoveries | | 140 | | | 174 | | | 212 | | | — | | | 526 | | | | | | | | | | | | | |
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Ending balance, September 30, 2014 | | $ | 2,157 | | | $ | 4,195 | | | $ | 879 | | | $ | 258 | | | $ | 7,489 | | | | | | | | | | | | | |
| | | | | | | | | | | |
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Allowance for credit losses: | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Beginning balance, January 1, 2013 | | $ | 2,676 | | | $ | 5,877 | | | $ | 1,541 | | | $ | 39 | | | $ | 10,133 | | | | | | | | | | | | | |
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Provision charged to operations | | 622 | | | (1,151 | ) | | (267 | ) | | 796 | | | — | | | | | | | | | | | | | |
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Losses charged to allowance | | (706 | ) | | — | | | (86 | ) | | — | | | (792 | ) | | | | | | | | | | | | |
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Recoveries | | 254 | | | 8 | | | 129 | | | — | | | 391 | | | | | | | | | | | | | |
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Ending balance, September 30, 2013 | | $ | 2,846 | | | $ | 4,734 | | | $ | 1,317 | | | $ | 835 | | | $ | 9,732 | | | | | | | | | | | | | |
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The following is a summary of the allowance for credit losses by impairment methodology and portfolio segment as of September 30, 2014 and December 31, 2013 (in thousands). |
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| | Commercial | | Real Estate | | Consumer | | Unallocated | | Total | | | | | | | | | | | | |
Allowance for credit losses: | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | |
Ending balance, September 30, 2014 | | $ | 2,157 | | | $ | 4,195 | | | 879 | | | $ | 258 | | | $ | 7,489 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Ending balance: individually evaluated for impairment | | $ | — | | | $ | 312 | | | 48 | | | $ | — | | | $ | 360 | | | | | | | | | | | | | |
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Ending balance: collectively evaluated for impairment | | $ | 2,157 | | | $ | 3,883 | | | 831 | | | $ | 258 | | | $ | 7,129 | | | | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | |
Ending balance, December 31, 2013 | | $ | 2,444 | | | $ | 5,174 | | | $ | 1,168 | | | $ | 422 | | | $ | 9,208 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Ending balance: individually evaluated for impairment | | $ | 469 | | | $ | 465 | | | $ | 73 | | | $ | — | | | $ | 1,007 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Ending balance: collectively evaluated for impairment | | $ | 1,975 | | | $ | 4,709 | | | $ | 1,095 | | | $ | 422 | | | $ | 8,201 | | | | | | | | | | | | | |
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Loans by impairment methdology | ' |
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The following table shows the ending balances of loans as of September 30, 2014 and December 31, 2013 by portfolio segment and by impairment methodology (in thousands): |
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| | Commercial | | Real Estate | | Consumer | | Total | | | | | | | | | | | | | | | | |
Loans: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Ending balance, September 30, 2014 | | $ | 133,177 | | | $ | 363,804 | | | $ | 57,578 | | | $ | 554,559 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Ending balance: individually evaluated for impairment | | $ | 22 | | | $ | 7,163 | | | $ | 1,935 | | | $ | 9,120 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Ending balance: collectively evaluated for impairment | | $ | 133,155 | | | $ | 356,641 | | | $ | 55,643 | | | $ | 545,439 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Loans: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Ending balance, December 31, 2013 | | $ | 118,731 | | | $ | 333,939 | | | $ | 59,846 | | | $ | 512,516 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Ending balance: individually evaluated for impairment | | $ | 1,527 | | | $ | 9,540 | | | $ | 2,290 | | | $ | 13,357 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Ending balance: collectively evaluated for impairment | | $ | 117,204 | | | $ | 324,399 | | | $ | 57,556 | | | $ | 499,159 | | | | | | | | | | | | | | | | | |
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Loan portfolio by internal risk rating | ' |
The following table shows the loan portfolio by class allocated by management’s internal risk ratings at September 30, 2014 (in thousands): |
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| | Pass | | Special Mention | | Sub-Standard | | Doubtful | | Total | | | | | | | | | | | | |
Commercial: | | | | | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | $ | 72,871 | | | $ | 13,462 | | | $ | 2,423 | | | $ | — | | | $ | 88,756 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Agricultural land and production | | 44,421 | | | — | | | — | | | — | | | 44,421 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | 150,368 | | | 3,964 | | | 4,007 | | | — | | | 158,339 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Real estate construction and other land loans | | 35,770 | | | 1,142 | | | 6,541 | | | — | | | 43,453 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Commercial real estate | | 91,486 | | | 1,209 | | | 7,271 | | | — | | | 99,966 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Agricultural real estate | | 55,214 | | | 2,593 | | | — | | | — | | | 57,807 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Other real estate | | 4,239 | | | — | | | — | | | — | | | 4,239 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Consumer: | | | | | | | | | | | | | | | | | | | | | | |
Equity loans and lines of credit | | 40,588 | | | 2,732 | | | 4,492 | | | — | | | 47,812 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Consumer and installment | | 9,741 | | | — | | | 25 | | | — | | | 9,766 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Total | | $ | 504,698 | | | $ | 25,102 | | | $ | 24,759 | | | $ | — | | | $ | 554,559 | | | | | | | | | | | | | |
| | | | | | | | | | | |
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The following table shows the loan portfolio by class allocated by management’s internally assigned risk grade ratings at December 31, 2013 (in thousands): |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Pass | | Special Mention | | Sub-Standard | | Doubtful | | Total | | | | | | | | | | | | |
Commercial: | | | | | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | $ | 81,732 | | | $ | 2,244 | | | $ | 3,106 | | | $ | — | | | $ | 87,082 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Agricultural land and production | | 31,649 | | | — | | | — | | | — | | | 31,649 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | |
Owner occupied | | 144,082 | | | 5,229 | | | 7,470 | | | — | | | 156,781 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Real estate construction and other land loans | | 31,776 | | | 3,959 | | | 6,594 | | | — | | | 42,329 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Commercial real estate | | 77,589 | | | 3,718 | | | 4,810 | | | — | | | 86,117 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Agricultural real estate | | 42,151 | | | 2,013 | | | — | | | — | | | 44,164 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Other real estate | | 4,548 | | | — | | | — | | | — | | | 4,548 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Consumer: | | | | | | | | | | | | | | | | | | | | | | |
Equity loans and lines of credit | | 41,999 | | | 2,400 | | | 4,195 | | | — | | | 48,594 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Consumer and installment | | 10,946 | | | 46 | | | 260 | | | — | | | 11,252 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Total | | $ | 466,472 | | | $ | 19,609 | | | $ | 26,435 | | | $ | — | | | $ | 512,516 | | | | | | | | | | | | | |
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Loan portfolio by time past due | ' |
The following table shows an aging analysis of the loan portfolio by class and the time past due at September 30, 2014 (in thousands): |
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| | 30-59 Days | | 60-89 | | Greater | | Total Past | | Current | | Total | | Recorded | | Non-accrual |
Past Due | Days Past | Than | Due | Loans | Investment |
| Due | 90 Days | | | > 90 Days |
| | Past Due | | | Accruing |
Commercial: | | | | | | | | | | | | | | | | | | | | | | | | |
|
Commercial and industrial | | $ | 90 | | | $ | — | | | $ | — | | | $ | 90 | | | $ | 88,666 | | | $ | 88,756 | | | $ | — | | | $ | 22 | |
|
Agricultural land and production | | — | | | — | | | — | | | — | | | 44,421 | | | 44,421 | | | — | | | — | |
|
Real estate: | | — | | | | | | | | | — | | | — | | | — | | | | | | |
|
Owner occupied | | — | | | — | | | 253 | | | 253 | | | 158,086 | | | 158,339 | | | — | | | 990 | |
|
Real estate construction and other land loans | | — | | | — | | | — | | | — | | | 43,453 | | | 43,453 | | | — | | | 1,319 | |
|
Commercial real estate | | — | | | — | | | — | | | — | | | 99,966 | | | 99,966 | | | — | | | — | |
|
Agricultural real estate | | — | | | — | | | — | | | — | | | 57,807 | | | 57,807 | | | — | | | — | |
|
Other real estate | | — | | | — | | | — | | | — | | | 4,239 | | | 4,239 | | | — | | | — | |
|
Consumer: | | | | | | | | | | | — | | | — | | | — | | | | | | |
|
Equity loans and lines of credit | | — | | | — | | | 227 | | | 227 | | | 47,585 | | | 47,812 | | | — | | | 1,914 | |
|
Consumer and installment | | 44 | | | — | | | — | | | 44 | | | 9,722 | | | 9,766 | | | — | | | 21 | |
|
Total | | $ | 134 | | | $ | — | | | $ | 480 | | | $ | 614 | | | $ | 553,945 | | | $ | 554,559 | | | $ | — | | | $ | 4,266 | |
|
|
The following table shows an aging analysis of the loan portfolio by class and the time past due at December 31, 2013 (in thousands): |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 30-59 Days | | 60-89 | | Greater | | Total Past | | Current | | Total | | Recorded | | Non- |
Past Due | Days Past | Than | Due | Loans | Investment | accrual |
| Due | 90 Days | | | > 90 Days | |
| | Past Due | | | Accruing | |
Commercial: | | | | | | | | | | | | | | | | | | | | | | | | |
|
Commercial and industrial | | $ | 274 | | | $ | 236 | | | $ | — | | | $ | 510 | | | $ | 86,572 | | | $ | 87,082 | | | $ | — | | | $ | 1,527 | |
|
Agricultural land and production | | — | | | — | | | — | | | — | | | 31,649 | | | 31,649 | | | — | | | — | |
|
Real estate: | | — | | | | | | | | | | | | | | | | | | | | | |
|
Owner occupied | | 1,272 | | | 134 | | | 418 | | | 1,824 | | | 154,957 | | | 156,781 | | | — | | | 2,161 | |
|
Real estate construction and other land loans | | — | | | — | | | — | | | — | | | 42,329 | | | 42,329 | | | — | | | 1,450 | |
|
Commercial real estate | | — | | | — | | | — | | | — | | | 86,117 | | | 86,117 | | | — | | | 158 | |
|
Agricultural real estate | | — | | | — | | | — | | | — | | | 44,164 | | | 44,164 | | | — | | | — | |
|
Other real estate | | — | | | — | | | — | | | — | | | 4,548 | | | 4,548 | | | — | | | — | |
|
Consumer: | | | | | | | | | | | | | | | | | | | | | | | |
|
Equity loans and lines of credit | | 10 | | | 147 | | | 252 | | | 409 | | | 48,185 | | | 48,594 | | | — | | | 2,286 | |
|
Consumer and installment | | 86 | | | — | | | — | | | 86 | | | 11,166 | | | 11,252 | | | — | | | 4 | |
|
Total | | $ | 1,642 | | | $ | 517 | | | $ | 670 | | | $ | 2,829 | | | $ | 509,687 | | | $ | 512,516 | | | $ | — | | | $ | 7,586 | |
|
Impaired loans | ' |
The following table shows information related to impaired loans by class at September 30, 2014 (in thousands): |
| | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Recorded | | Unpaid | | Related | | | | | | | | | | | | | | | | | | | | |
Investment | Principal | Allowance | | | | | | | | | | | | | | | | | | | | |
| Balance | | | | | | | | | | | | | | | | | | | | | |
With no related allowance recorded: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | $ | 14 | | | $ | 34 | | | $ | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Owner occupied | | 784 | | | 909 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Real estate construction and other land loans | | 1,319 | | | 2,111 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial real estate | | 331 | | | 344 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Total real estate | | 2,434 | | | 3,364 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Equity loans and lines of credit | | 1,655 | | | 2,317 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Total with no related allowance recorded | | 4,103 | | | 5,715 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
With an allowance recorded: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | 8 | | | 8 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Owner occupied | | 1,094 | | | 1,250 | | | 97 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Real estate construction and other land loans | | 3,635 | | | 3,635 | | | 215 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Total real estate | | 4,729 | | | 4,885 | | | 312 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Equity loans and lines of credit | | 258 | | | 277 | | | 44 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Consumer and installment | | 22 | | | 23 | | | 4 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Total consumer | | 280 | | | 300 | | | 48 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Total with an allowance recorded | | 5,017 | | | 5,193 | | | 360 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Total | | $ | 9,120 | | | $ | 10,908 | | | $ | 360 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
|
The recorded investment in loans excludes accrued interest receivable and net loan origination fees, due to immateriality. |
The following table shows information related to impaired loans by class at December 31, 2013 (in thousands): |
| | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Recorded | | Unpaid | | Related | | | | | | | | | | | | | | | | | | | | |
Investment | Principal | Allowance | | | | | | | | | | | | | | | | | | | | |
| Balance | | | | | | | | | | | | | | | | | | | | | |
With no related allowance recorded: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | $ | 350 | | | $ | 385 | | | $ | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Owner occupied | | 3,160 | | | 4,159 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Real estate construction and other land loans | | 1,449 | | | 2,136 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial real estate | | 502 | | | 891 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Total real estate | | 5,111 | | | 7,186 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Equity loans and lines of credit | | 2,029 | | | 2,826 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Consumer and installment | | 4 | | | 5 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Total consumer | | 2,033 | | | 2,831 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Total with no related allowance recorded | | 7,494 | | | 10,402 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
With an allowance recorded: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | 1,177 | | | 1,222 | | | 469 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Owner occupied | | 385 | | | 425 | | | 3 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Real estate construction and other land loans | | 4,044 | | | 4,044 | | | 462 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Total real estate | | 4,429 | | | 4,469 | | | 465 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Equity loans and lines of credit | | 257 | | | 264 | | | 73 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Total with an allowance recorded | | 5,863 | | | 5,955 | | | 1,007 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Total | | $ | 13,357 | | | $ | 16,357 | | | $ | 1,007 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
|
The recorded investment in loans excludes accrued interest receivable and net loan origination fees, due to immateriality. |
The following presents by class, information related to the average recorded investment and interest income recognized on impaired loans for the three months ended September 30, 2014 and 2013. |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended September 30, 2014 | | Three Months Ended September 30, 2013 | | | | | | | | | | | | | | | | |
| | Average | | Interest | | Average | | Interest | | | | | | | | | | | | | | | | |
Recorded | Income | Recorded | Income | | | | | | | | | | | | | | | | |
Investment | Recognized | Investment | Recognized | | | | | | | | | | | | | | | | |
With no related allowance recorded: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial and industrial | | $ | 20 | | | $ | — | | | $ | 412 | | | $ | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Owner occupied | | 1,227 | | | 14 | | | 2,196 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Real estate construction and other land loans | | 1,335 | | | 18 | | | 2,172 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial real estate | | 377 | | | — | | | 332 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total real estate | | 2,939 | | | 32 | | | 4,700 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Equity loans and lines of credit | | 1,652 | | | — | | | 2,057 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Consumer and installment | | 8 | | | — | | | 14 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total consumer | | 1,660 | | | — | | | 2,071 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total with no related allowance recorded | | 4,619 | | | 32 | | | 7,183 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
With an allowance recorded: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial and industrial | | 8 | | | — | | | 1,271 | | | 15 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Owner occupied | | 816 | | | — | | | 1,471 | | | 35 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Real estate construction and other land loans | | 3,687 | | | 66 | | | 4,049 | | | 85 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial real estate | | 43 | | | — | | | — | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total real estate | | 4,546 | | | 66 | | | 5,520 | | | 120 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Equity loans and lines of credit | | 314 | | | — | | | 571 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total with an allowance recorded | | 4,882 | | | 66 | | | 7,362 | | | 135 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total | | $ | 9,501 | | | $ | 98 | | | $ | 14,545 | | | $ | 135 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
|
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Nine Months Ended September 30, 2014 | | Nine Months Ended September 30, 2013 | | | | | | | | | | | | | | | | |
| | Average | | Interest | | Average | | Interest | | | | | | | | | | | | | | | | |
Recorded | Income | Recorded | Income | | | | | | | | | | | | | | | | |
Investment | Recognized | Investment | Recognized | | | | | | | | | | | | | | | | |
With no related allowance recorded: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial and industrial | | $ | 184 | | | $ | — | | | $ | 309 | | | $ | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total commercial | | 184 | | | — | | | 309 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Owner occupied | | 2,406 | | | 41 | | | 1,681 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Real estate construction and other land loans | | 1,345 | | | 18 | | | 3,001 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial real estate | | 501 | | | — | | | 282 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total real estate | | 4,252 | | | 59 | | | 4,964 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Equity loans and lines of credit | | 1,837 | | | — | | | 1,966 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Consumer and installment | | 11 | | | — | | | 10 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total consumer | | 1,848 | | | — | | | 1,976 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total with no related allowance recorded | | 6,284 | | | 59 | | | 7,249 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
With an allowance recorded: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial and industrial | | 351 | | | — | | | 1,404 | | | 80 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total commercial | | 351 | | | — | | | 1,404 | | | 80 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Owner occupied | | 283 | | | — | | | 1,454 | | | 65 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Real estate construction and other land loans | | 3,852 | | | 204 | | | 4,440 | | | 255 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial real estate | | 13 | | | — | | | — | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total real estate | | 4,148 | | | 204 | | | 5,894 | | | 320 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Equity loans and lines of credit | | 251 | | | — | | | 465 | | | — | | | | | | | | | | | | | | | | | |
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Consumer and installment | | 29 | | | — | | | — | | | — | | | | | | | | | | | | | | | | | |
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Total consumer | | 280 | | | — | | | 465 | | | — | | | | | | | | | | | | | | | | | |
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Total with an allowance recorded | | 4,779 | | | 204 | | | 7,763 | | | 400 | | | | | | | | | | | | | | | | | |
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Total | | $ | 11,063 | | | $ | 263 | | | $ | 15,012 | | | $ | 400 | | | | | | | | | | | | | | | | | |
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Troubled Debt Restructurings | ' |
The following table presents loans by class modified as troubled debt restructurings that occurred during the nine months ended September 30, 2014 (in thousands): |
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Troubled Debt Restructurings: | | Number of Loans | | Pre-Modification Outstanding Recorded Investment (1) | | Principal Modification (2) | | Post Modification Outstanding Recorded Investment (3) | | Outstanding Recorded Investment | | | | | | | | | | | | | | | | | |
Equity loans and lines of credit | | 1 | | | 7 | | | — | | | 7 | | | 4 | | | | | | | | | | | | | | | | | | |
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-1 | Amounts represent the recorded investment in loans before recognizing effects of the TDR, if any. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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-2 | Principal Modification includes principal forgiveness at the time of modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with zero percent contractual interest rate. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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-3 | Balance outstanding after principal modification, if any borrower reduction to recorded investment. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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During the three months ended September 30, 2014 and 2013 no loans were modified as troubled debt restructuring. |