Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Jul. 31, 2015 | |
Document and Entity Information: | ||
Entity Registrant Name | FNB BANCORP/CA/ | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2015 | |
Amendment Flag | false | |
Entity Central Index Key | 1,163,199 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 4,307,489 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollar amounts in thousands) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and due from banks | $ 91,662 | $ 14,978 |
Interest-bearing time deposits with financial institutions | 2,138 | 2,784 |
Securities available-for-sale, at fair value | 295,171 | 264,881 |
Loans, net of allowance for loan losses of $9,836 and $9,700 on June 30, 2015 and December 31, 2014 | 571,665 | 583,715 |
Bank premises, equipment, and leasehold improvements, net | 10,527 | 10,951 |
Bank owned life insurance | 12,681 | 12,510 |
Other equity securities | 6,069 | 5,769 |
Accrued interest receivable | 3,909 | 3,725 |
Other real estate owned, net | 806 | 763 |
Goodwill | 1,841 | 1,841 |
Prepaid expenses | 922 | 1,045 |
Other assets | 12,437 | 14,202 |
Total assets | 1,009,828 | 917,164 |
Deposits | ||
Demand, noninterest bearing | 249,420 | 202,811 |
Demand, interest bearing | 101,693 | 89,548 |
Savings and money market | 437,092 | 394,676 |
Time | 104,935 | 105,159 |
Total deposits | $ 893,140 | 792,194 |
Federal Home Loan Bank advances | 9,000 | |
Note Payable | $ 5,250 | 5,550 |
Accrued expenses and other liabilities | 11,001 | 13,332 |
Total liabilities | 909,391 | 820,076 |
Stockholders' equity | ||
Common stock, no par value, authorized 10,000,000 shares; issued and outstanding 4,305,987 shares at June 30, 2015 and 4,259,306 shares at December 31, 2014 | 67,597 | 66,791 |
Retained earnings | 31,452 | 28,729 |
Accumulated other comprehensive income, net of tax | 1,388 | 1,568 |
Total stockholders' equity | 100,437 | 97,088 |
Total liabilities and stockholders' equity | $ 1,009,828 | $ 917,164 |
CONSOLIDATED BALANCE SHEETS (Do
CONSOLIDATED BALANCE SHEETS (Dollar amounts in thousands) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets: | ||
Allowance for loan losses | $ 9,836 | $ 9,700 |
Common Stock, shares authorized | 10,000,000 | 10,000,000 |
Common Stock, shares issued | 4,305,987 | 4,259,306 |
Common Stock, shares outstanding | 4,305,987 | 4,259,306 |
CONSOLIDATED STATEMENTS OF EARN
CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) (Dollar amounts in thousands) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest income: | ||||
Interest and fees on loans | $ 7,855 | $ 7,897 | $ 15,565 | $ 15,524 |
Interest on taxable securities | 843 | 851 | 1,673 | 1,694 |
Interest on tax-exempt securities | 589 | 492 | 1,103 | 980 |
Interest on time dep w /other financial institutions | 13 | 27 | 27 | 46 |
Total interest income | 9,300 | 9,267 | 18,368 | 18,244 |
Interest expense: | ||||
Interest on deposits | $ 538 | 484 | 992 | 945 |
Interest on FHLB advances | 3 | 1 | 11 | |
Interest on note payable | $ 57 | 68 | 116 | 68 |
Total interest expense | 595 | 555 | 1,109 | 1,024 |
Net interest income | 8,705 | $ 8,712 | 17,259 | 17,220 |
Provision for loan losses | 75 | 150 | 75 | |
Net interest income after provision for loan losses | 8,630 | $ 8,712 | 17,109 | 17,145 |
Noninterest income: | ||||
Service charges | 627 | 647 | 1,238 | 1,284 |
Net gain on sale of available-for-sale securities | 152 | 28 | 221 | 39 |
Bank owned life insurance earnings | 87 | 90 | 171 | 186 |
Other income | 401 | 215 | 715 | 517 |
Total noninterest income | 1,267 | 980 | 2,345 | 2,026 |
Noninterest expense: | ||||
Salaries and employee benefits | 4,111 | 4,177 | 8,413 | 8,395 |
Occupancy expense | 646 | 694 | 1,314 | 1,374 |
Equipment expense | 410 | 406 | 815 | 797 |
Professional fees | 354 | 501 | 741 | 1,032 |
FDIC assessment | 150 | 180 | 300 | 360 |
Telephone, postage and supplies | 256 | 313 | 545 | 599 |
Advertising | 170 | 136 | 269 | 221 |
Data processing expense | 147 | 134 | 281 | 279 |
Low income housing expense | 71 | 110 | 142 | 220 |
Surety insurance | 88 | 67 | 176 | 134 |
Directors expense | $ 72 | 63 | $ 144 | 126 |
Loss (gain) on sale of other real estate owned, net | 60 | (220) | ||
Other real estate owned (recovery) expense, net | $ (6) | 11 | $ (6) | 88 |
Other expense | 320 | 358 | 598 | 647 |
Total noninterest expense | 6,789 | 7,210 | 13,732 | 14,052 |
Earnings before provision for income tax expense | 3,108 | 2,482 | 5,722 | 5,119 |
Provision for income tax expense | 1,037 | 853 | 1,852 | 1,656 |
Net earnings | $ 2,071 | $ 1,629 | $ 3,870 | 3,463 |
Dividends and discount accretion on preferred stock | 170 | |||
Net earnings available to common stockholders | $ 2,071 | $ 1,629 | $ 3,870 | $ 3,293 |
Earnings per share data: | ||||
Basic | $ 0.48 | $ 0.39 | $ 0.90 | $ 0.78 |
Diluted | $ 0.47 | $ 0.37 | $ 0.88 | $ 0.76 |
Weighted average shares outstanding: | ||||
Basic | 4,296 | 4,230 | 4,285 | 4,207 |
Diluted | 4,415 | 4,367 | 4,409 | 4,349 |
CONSOLIDATED STATEMENTS OF EAR5
CONSOLIDATED STATEMENTS OF EARNINGS (Dollar amounts in thousands) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Revenues [Abstract] | ||||
Net earnings | $ 2,071 | $ 1,629 | $ 3,870 | $ 3,463 |
Unrealized holding gain (loss) on available-for-sale securities, net of tax benefit of $954 and $34 for three and six months ended June 30, 2015, and net of tax benefit of $1,034 and $1,754 for three and six months ended June 30, 2014. | (1,373) | 1,487 | (50) | 2,522 |
Reclassification adjustment for gain on available-for-sale securities sold, net of tax of $63 and $91 for three and six months ended June 30, 2015, and $11 and $16 for three and six months ended June 30, 2014, respectively | (89) | (17) | (130) | (23) |
Other Comprehensive (Loss) Earnings | (1,462) | 1,470 | (180) | 2,499 |
Total comprehensive earnings | $ 609 | $ 3,099 | $ 3,690 | $ 5,962 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parentheticals) (Dollar amounts in thousands) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Other Comprehensive Earnings Parentheticals | ||||
Tax on unrealized holding gain on available-for-sale securities | $ 954 | $ 1,034 | $ 34 | $ 1,754 |
Tax on reclassification adjustment for gain on available-for-sale | $ 63 | $ 11 | $ 91 | $ 16 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Dollar amounts in thousands) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash flow from operating activities: | ||
Net earnings | $ 3,870 | $ 3,463 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Net gain on sale of securities available-for-sale | $ (221) | (39) |
Gain on sale of other real estate owned, net | (220) | |
Depreciation, amortization and accretion | $ 1,668 | 1,730 |
Stock-based compensation expense | 122 | 139 |
Earnings on bank owned life insurance | (171) | (186) |
Decrease in net deferred loan fees | (45) | (18) |
Provision for loan losses | 150 | 75 |
(Increase) decrease in accrued interest receivable | (184) | 134 |
Decrease in prepaid expense | 123 | 197 |
Decrease in other assets | 1,765 | 661 |
Decrease in accrued expenses and other liabilities | (2,765) | (33) |
Net cash provided by operating activities | 4,312 | 5,903 |
Cash flows from investing activities: | ||
Purchase of securities available-for-sale | (62,042) | (18,791) |
Proceeds from matured/called/sold securities available-for-sale | 30,565 | 18,138 |
Investment, net of redemption, in other equity securities | (300) | (276) |
Redemption of time deposits of other banks | $ 646 | 1,082 |
Proceeds from sale of other real estate owned | 1,461 | |
Net investment in other real estate owned | $ (43) | (77) |
Net decrease (increase) in loans | 11,945 | (4,746) |
Purchases of bank premises, equipment, leasehold improvements | (141) | (526) |
Net cash provided by investing activities | (19,370) | (3,735) |
Cash flows from financing activities: | ||
Net increase in demand and savings deposits | 101,170 | 34,011 |
Net decrease in time deposits | (224) | (17,404) |
Decrease in FHLB advances | $ (9,000) | (8,000) |
Proceeds from note payable | 6,000 | |
Principal reduction of note payable | $ (300) | (150) |
Dividends paid on common stock | (588) | (403) |
Exercise of stock options | $ 684 | 1,073 |
Redemption of preferred stock series C | (9,450) | |
Dividends paid on preferred stock series C | (170) | |
Net cash provided by financing activities | $ 91,742 | 5,507 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 76,684 | 7,675 |
Cash and cash equivalents at beginning of period | 14,978 | 14,007 |
Cash and cash equivalents at end of period | 91,662 | 21,682 |
Additional cash flow information: | ||
Interest paid | 1,087 | 1,009 |
Income taxes paid | 2,889 | 1,537 |
Non-cash investing and financing activities: | ||
Accrued dividends | 559 | 445 |
Change in unrealized (loss) gain in available-for-sale securities, net of tax | $ (180) | 2,499 |
OREO sale funded by loan origination | $ 3,400 |
A. BASIS OF PRESENTATION
A. BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2015 | |
BASIS OF PRESENTATION | |
BASIS OF PRESENTATION | FNB Bancorp (the “Company”) is a bank holding company registered under the Bank Holding Company Act of 1956, as amended. The Company was incorporated under the laws of the State of California on February 28, 2001. The consolidated financial statements include the accounts of FNB Bancorp and its wholly-owned subsidiary, First National Bank of Northern California (the “Bank”). The Bank provides traditional banking services in San Mateo, San Francisco and Santa Clara counties. All intercompany transactions and balances have been eliminated in consolidation. The financial statements include all adjustments of a normal and recurring nature, which are, in the opinion of management, necessary for a fair presentation of the financial position and results of operations for the periods presented. The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all information and footnotes normally included in annual financial statements prepared in conformity with accounting principles generally accepted in the United States of America. Accordingly, these consolidated financial statements should be read in conjunction with the consolidated audited financial statements and notes thereto for the year ended December 31, 2014. Results of operations for interim periods are not necessarily indicative of results for the full year. Certain prior year information has been reclassified to conform to current year presentation. The reclassifications had no impact on consolidated net earnings or stockholders’ equity. |
B. STOCK OPTION PLANS
B. STOCK OPTION PLANS | 6 Months Ended |
Jun. 30, 2015 | |
Share-based Compensation [Abstract] | |
STOCK OPTION PLANS | Stock option expense is recorded based on the fair value of option contracts issued. The fair value is determined using an option pricing model that considers the expected contract term, the risk free interest rate, the volatility of the CompanyÂ’s stock price and the level of dividends the Company is expected to pay. The expected term of options granted is derived from historical plan behavior and represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U. S. Treasury yield curve in effect at the time of the grant. The amount of compensation expense for options recorded in the quarters ended June 30, 2015 and 2014 was $61,000 and $69,000, respectively. The amount of compensation expense recorded for the six months ended June 30, 2015 and 2014 was $122,000 and $139,000, respectively. There was no income tax benefit recognized from stock options exercised during the quarter and year to date ended June 30, 2015, but there was an income tax benefit recognized for stock options exercised of $245,000 for the quarter and year to date ended June 30, 2014. The intrinsic value for options exercised during the six months ended June 30, 2015 was $625,000. The intrinsic value for options exercisable as of June 30, 2015 was $3034,000. The intrinsic value for options exercised during the six months ended June 30, 2014 was $259,000. The intrinsic value of options exercisable at June 30, 2014 was $2,897,000. There were no options granted for the first six months ended June 30, 2015 and 2014, respectively. The amount of total unrecognized compensation expense related to non-vested options at June 30, 2015 was $611,000, and the weighted average period over which it will be amortized is 3.2 years. |
C. EARNINGS PER SHARE CALCULATI
C. EARNINGS PER SHARE CALCULATION | 6 Months Ended |
Jun. 30, 2015 | |
Earnings per share data: | |
EARNINGS PER SHARE CALCULATION | Earnings per common share (EPS) are computed based on the weighted average number of common shares outstanding during the period. Basic EPS excludes dilution and is computed by dividing net earnings available to common stockholders (after deducting dividends and related accretion on preferred stock) by the weighted average of common shares outstanding. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The number of potential common shares included in the quarterly diluted EPS is computed using the average market price during the three months included in the reporting period under the treasury stock method. The number of potential common shares included in year-to-date diluted EPS is a year-to-date weighted average of potential shares included in each quarterly diluted EPS computation. All common stock equivalents are anti-dilutive when a net loss occurs. A 5% stock dividend was declared in the fourth quarter of 2014, and prior per share amounts have been adjusted to reflect the 5% stock dividend. Earnings per share have been computed based on the following: (All amounts in thousands) Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Net earnings $ 2,071 $ 1,629 $ 3,870 $ 3,463 Dividends and discount accretion on preferred stock — — — (170 ) Net earnings available to common stockholders $ 2,071 $ 1,629 $ 3,870 $ 3,633 Average number of shares outstanding 4,296 4,230 4,285 4,207 Effect of dilutive options 119 130 124 135 Average number of shares outstanding used to calculate diluted earnings per share 4,415 4,367 4,409 4,349 Anti-dilutive options not included 93,751 65,940 94,882 258,741 |
D. SECURITIES AVAILABLE FOR SAL
D. SECURITIES AVAILABLE FOR SALE | 6 Months Ended |
Jun. 30, 2015 | |
SECURITIES AVAILABLE FOR SALE | |
SECURITIES AVAILABLE FOR SALE | The amortized cost and fair values of securities available-for-sale are as follows: (Dollar amounts in thousands) Amortized Unrealized Unrealized Fair cost gains losses value June 30, 2015: U.S. Treasury securities $ 5,996 $ 27 $ (4 ) $ 6,019 Obligations of U.S. government agencies 78,545 354 (126 ) 78,773 Mortgage-backed securities 66,150 909 (497 ) 66,562 Obligations of states and political subdivisions 109,615 2,208 (567 ) 111,256 Corporate debt 32,512 165 (116 ) 32,561 $ 292,818 $ 3,663 $ (1,310 ) $ 295,171 December 31, 2014: U.S. Treasury securities $ 3,975 $ 12 $ (29 ) $ 3,958 Obligations of U.S. government agencies 63,090 270 (298 ) 63,062 Mortgage-backed securities 78,076 1,002 (661 ) 78,417 Obligations of states and political subdivisions 82,151 2,534 (143 ) 84,542 Corporate debt 34,931 176 (205 ) 34,902 $ 262,223 $ 3,994 $ (1,336 ) $ 264,881 An analysis of gross unrealized losses of the available-for-sale investment securities portfolio as of June 30, 2015 and December 31, 2014, respectively, is as follows: (Dollar amounts in thousands) Less than 12 Months Total 12 Months Total or Longer Total Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses June 30, 2015 U. S. Treasury securities $ — $ — $ 2,034 $ (4 ) $ 2,034 $ (4 ) Obligations of U.S. government agencies 22,189 (71 ) 6,992 (55 ) 29,181 $ (126 ) Mortgage-backed securities 15,298 (177 ) 14,989 (320 ) 30,287 (497 ) Obligations of states and political subdivisions 36,204 (517 ) 1,831 (50 ) 38,035 (567 ) Corporate debt 9,390 (97 ) 2,483 (19 ) 11,873 (116 ) Total $ 83,081 $ (862 ) $ 28,329 $ (448 ) $ 111,410 $ (1,310 ) (Dollar amounts in thousands) Less than 12 Months Total 12 Months Total or Longer Total Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses December 31, 2014: U. S. Treasury securities $ — $ — $ 2,015 $ (29 ) $ 2,015 $ (29 ) Obligations of U.S. government agencies 13,178 (43 ) 19,116 (255 ) 32,294 (298 ) Mortgage-backed securities 5,056 (10 ) 36,382 (651 ) 41,438 (661 ) Obligations of states and political subdivisions 8,678 (49 ) 5,696 (94 ) 14,374 (143 ) Corporate debt 18,065 (125 ) 4,919 (80 ) 22,984 (205 ) Total $ 44,977 $ (227 ) $ 68,128 $ (1,109 ) $ 113,105 $ (1,336 ) At June 30, 2015, there were twenty-three securities in an unrealized loss position for twelve consecutive months or more. At the same date, there were eighty-five securities in an unrealized loss position for less than 12 consecutive months. Management periodically evaluates each security in an unrealized loss position to determine if the impairment is temporary or other-than-temporary. The unrealized losses are due solely to changes in interest rates and the Company does not intend to sell nor expects it will be required to sell investment securities identified with impairments prior to the earliest of forecasted recovery or the maturity of the underlying investment security. Management has determined that no investment security was other-than-temporarily impaired at June 30, 2015 and December 31, 2014. The amortized cost and carrying value of available-for-sale debt securities as of June 30, 2015 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. June 30, 2015: (Dollar amounts in thousands) Amortized Fair Cost Value Available-for-sale: Due in one year or less $ 13,123 $ 13,230 Due after one through five years 126,436 127,345 Due after five years through ten years 124,134 125,118 Due after ten years 29,125 29,478 $ 292,818 $ 295,171 For the six months ended June 30, 2015 and June 30, 2014, respectively, gross realized gains amounted to $221,000 and $39,000, on securities sold for $19,228,000 and $5,067,000, respectively. For the six months ended June 30, 2015 and June 30, 2014, there were no gross realized losses. For the three months ended June 30, 2015 and June 30, 2014, respectively, gross realized gains amounted to $152,000 and $28,000 on securities sold for $1,916,000 and $4,044,000 respectively. For the three months ended June 30, 2015 and June 30, 2014, there were no gross realized losses. At June 30, 2015, securities with an amortized cost of $106,152,000 and fair value of $107,069,000 were pledged as collateral for public deposits and for other purposes required by law. |
E. LOANS
E. LOANS | 6 Months Ended |
Jun. 30, 2015 | |
LOANS | |
LOANS | Loans are summarized as follows at June 30, 2015 and December 31, 2014: Total (Dollar amounts in thousands) FNB Balance Bancorp June 30, June 30, 2015 Originated PNCI PCI 2015 Commercial real estate $ 298,454 $ 30,528 $ 1,321 $ 330,303 Real estate construction 30,744 1,904 — 32,648 Real estate multi-family 41,620 9,993 — 51,613 Real estate 1 to 4 family 123,811 4,089 — 127,900 Commercial & industrial 29,649 8,096 — 37,745 Consumer loans 1,696 — — 1,696 Gross loans 525,974 54,610 1,321 581,905 Net deferred loan fees (404 ) — — (404 ) Allowance for loan losses (9,836 ) — (9,836 ) Net loans $ 515,734 $ 54,610 $ 1,321 $ 571,665 Total (Dollar amounts in thousands) FNB Balance Bancorp December 31, December 31, 2014 Originated PNCI PCI 2014 Commercial real estate $ 285,252 $ 31,852 $ 1,323 $ 318,427 Real estate construction 37,827 1,944 — 39,771 Real estate multi-family 43,379 10,445 — 53,824 Real estate 1 to 4 family 123,522 5,210 — 128,732 Commercial & industrial 42,551 9,111 — 51,662 Consumer loans 1,448 — — 1,448 Gross loans 533,979 58,562 1,323 593,864 Net deferred loan fees (449 ) — — (449 ) Allowance for loan losses (9,700 ) — — (9,700 ) Net loans $ 523,830 $ 58,562 $ 1,323 $ 583,715 Note: PNCI means Purchased, Not Credit Impaired. PCI means Purchased, Credit Impaired. Allowance for Credit Losses For the Three Months Ended June 30, 2015 (Dollar amounts in thousands) Real Real Estate Estate Commercial Real Estate Multi 1 to Commercial Real estate Construction family 4 family & industrial Consumer Total Allowance for credit losses Beginning balance $ 5,305 $ 1,420 $ 152 $ 1,845 $ 961 $ 61 $ 9,744 Charge-offs — — — — — (5 ) (5 ) Recoveries 16 — — — 5 1 22 Provision 706 (723 ) 46 169 (118 ) (5 ) 75 Ending balance $ 6,027 $ 697 $ 198 $ 2,014 $ 848 $ 52 $ 9,836 Ending balance: $ 133 $ — $ — $ 526 $ 236 $ 8 $ 903 Ending balance: $ 5,894 $ 697 $ 198 $ 1,488 $ 612 $ 44 $ 8,933 Allowance for Credit Losses For the Six Months Ended June 30, 2015 (Dollar amounts in thousands) Real Real Estate Estate Commercial Real Estate Multi 1 to Commercial Real Estate Construction family 4 family & industrial Consumer Total Allowance for credit losses Beginning balance $ 5,549 $ 849 $ 206 $ 1,965 $ 1,073 $ 58 $ 9,700 Charge-offs — — — (45 ) — (11 ) (56 ) Recoveries 22 — — 1 18 1 42 Provision 456 (152 ) (8 ) 93 (243 ) 4 150 Ending balance $ 6,027 $ 697 $ 198 $ 2,014 $ 848 $ 52 $ 9,836 Ending balance: $ 133 $ — $ — $ 526 $ 236 $ 8 $ 903 Ending balance: $ 5,894 $ 697 $ 198 $ 1,488 $ 612 $ 44 $ 8,933 Recorded Investment in Loans at June 30, 2015 (Dollar amounts in thousands) Real Real Estate Estate Commercial Real Estate Multi 1 to Commercial Real Estate Construction family 4 family & industrial Consumer Total Loans: Ending balance $ 330,303 $ 32,648 $ 51,613 $ 127,900 $ 37,745 $ 1,696 $ 581,905 Ending balance: $ 9,544 $ 2,364 $ — $ 4,843 $ 1,938 $ 59 $ 18,748 Ending balance: $ 320,759 $ 30,284 $ 51,613 $ 123,057 $ 35,807 $ 1,637 $ 563,157 Recorded Investment in Loans at December 31, 2014 (Dollar amounts in thousands) Real Real Estate Estate Commercial Commercial Multi 1 to Commercial Real Estate Construction family 4 family & industrial Consumer Total Loans: Ending balance $ 318,427 $ 39,771 $ 53,824 $ 128,732 $ 51,662 $ 1,448 $ 593,864 Ending balance: $ 9,530 $ 2,373 $ — $ 4,333 $ 2,315 $ 64 $ 18,615 Ending balance: $ 308,897 $ 37,398 $ 53,824 $ 124,399 $ 49,347 $ 1,384 $ 575,249 Allowance for Credit Losses For the Three Months Ended June 30, 2014 (Dollar amounts in thousands) Real Real Estate Estate Commercial Real Estate Multi 1 to Commercial Real estate Construction family 4 family & industrial Consumer Total Allowance for credit losses Beginning balance $ 5,624 $ 735 $ 369 $ 1,835 $ 1,268 $ 66 $ 9,897 Charge-offs — (183 ) — — — (20 ) (203 ) Recoveries 1,051 — — 1 110 3 1,165 Provision (460 ) 165 96 414 (212 ) (3 ) — Ending balance $ 6,215 $ 717 $ 465 $ 2,250 $ 1,166 $ 46 $ 10,859 Ending balance: $ 128 $ — $ — $ 481 $ 151 $ — $ 760 Ending balance: $ 6,087 $ 717 $ 465 $ 1,769 $ 1,015 $ 46 $ 10,099 Allowance for Credit Losses For the Six months Ended June 30, 2014 (Dollar amounts in thousands) Real Real Estate Estate Commercial Real Estate Multi 1 to Commercial Real estate Construction family 4 family & industrial Consumer Total Allowance for credit losses Beginning balance $ 5,763 $ 734 $ 293 $ 1,788 $ 1,237 $ 64 $ 9,879 Charge-offs — (183 ) — (62 ) — (31 ) (276 ) Recoveries 1,052 — — 2 124 3 1,181 Provision (600 ) 166 172 522 (195 ) 10 75 Ending balance $ 6,215 $ 717 $ 465 $ 2,250 $ 1,166 $ 46 $ 10,859 Ending balance: $ 128 $ — $ — $ 481 $ 151 $ — $ 760 Ending balance: $ 6,087 $ 717 $ 465 $ 1,769 $ 1,015 $ 46 $ 10,099 Recorded Investment in Loans at June 30, 2014 (Dollar amounts in thousands) Real Real Estate Estate Commercial Real Estate Multi 1 to Commercial Real Estate Construction family 4 family & industrial Consumer Total Loans: Ending balance $ 319,661 $ 39,760 $ 53,499 $ 114,869 $ 42,545 $ 1,434 $ 571,768 Ending balance: $ 9,043 $ 2,382 $ — $ 3,847 $ 4,133 $ 9 $ 19,414 Ending balance: $ 310,618 $ 37,378 $ 53,499 $ 111,022 $ 38,412 $ 1,425 $ 552,354 Impaired Loans As of and for the six months ended June 30, 2015 Unpaid Average (Dollar amounts in thousands) Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized With no related allowance recorded Commercial real estate $ 4,411 $ 5,292 $ — $ 4,437 $ 125 Commercial real estate construction 2,364 2,547 — 2,368 68 Residential- 1 to 4 family 1,478 1,481 — 1,283 31 Commercial and industrial 546 791 — 743 18 Consumer — — — — — Total 8,799 10,111 — 8,831 242 With an allowance recorded Commercial real estate $ 5,133 $ 5,138 $ 133 $ 5,172 $ 130 Commercial real estate construction — — — — — Residential- 1 to 4 family 3365 3383 526 3,397 69 Commercial and industrial 1,392 1,740 236 1,563 23 Consumer 59 59 8 61 4 Total 9,949 10,320 903 10,193 226 Total Commercial real estate $ 9,544 $ 10,430 $ 133 $ 9,609 $ 255 Commercial real estate construction 2,364 2,547 — 2,368 68 Residential - 1 to 4 family 4,843 4,864 526 4,680 100 Commercial and industrial 1,938 2,531 236 2,306 41 Consumer 59 59 8 61 4 Grand total $ 18,748 $ 20,431 $ 903 $ 19,024 $ 468 Impaired Loans As of and for the year ended December 31, 2014 Unpaid Average (Dollar amounts in thousands) Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized With no related allowance recorded Commercial real estate $ 4,462 $ 5,333 $ — $ 4,473 $ 304 Commercial real estate construction 2,373 2,556 — 1,846 150 Residential- 1 to 4 family 1,594 1,737 — 1,379 67 Commercial and industrial 582 939 — 788 54 Consumer — — — — — Total 9,011 10,565 — 8,486 575 With an allowance recorded Commercial real estate $ 5,068 $ 5,071 $ 101 $ 5,127 $ 258 Residential- 1 to 4 family 2,739 2,754 432 2,759 111 Commercial and industrial 1,733 2,100 225 1,907 33 Consumer 64 64 8 67 5 Total 9,604 9,989 766 9,860 407 Total Commercial real estate $ 9,530 $ 10,404 $ 101 $ 9,600 $ 562 Commercial real estate construction 2,373 2,556 — 1,846 150 Residential- 1 to 4 family 4,333 4,491 432 4,138 178 Commercial and industrial 2,315 3,039 225 2,695 87 Consumer 64 64 8 67 5 Grand total $ 18,615 $ 20,554 $ 766 $ 18,346 $ 982 Nonaccrual loans totaled $6,020,000 and $5,648,000 as of June 30, 2015 and December 31, 2014. The difference between impaired loan and nonaccrual loan classifications are loans that have been restructured and performing under modified loan agreements, and where principal and interest is considered to be collectible are considered impaired loans. Loans on Nonaccrual Status as of (Dollar amounts in thousands) June 30, December 31, 2015 2014 Commercial real estate $ 2,227 $ 2,111 Real estate - 1 to 4 family 1,727 1,181 Commercial & industrial 2,007 2,292 Consumer 59 64 Total $ 6,020 $ 5,648 Interest income on impaired loans of $468,000 was recognized for cash payments received during the six months ended June 30, 2015, and $982,000 was recognized for cash payments received during the year ended December 31, 2014, respectively. Interest income on impaired loans for cash payments received during the six month period ended June 30, 2014 was $455,000; for the three months ended June 30, 2015 it was $243,000, and for the three months ended June 30, 2014 it was $184,000. The amount of interest on impaired loans not collected for the six months ended June 30, 2015 was $198,000 and for the year ended December 31, 2014 was $398,000. For the six months ended June 30, 2014, it was $214,000; for the three months ended June 30, 2015, it was $92,000; for the three months ended June 30, 2014 it was $64,000. The cumulative amount of unpaid interest on impaired loans was $3,142,000 at June 30, 2015, and $3,829,000 at the year ended December 31, 2014. Average recorded investment in impaired loans for six months ended June 30, 2014 was $19,211,000. Average recorded investment in impaired loans for three months ended June 30, 2015 was $18,963,000, and for the three months ended June 30, 2014 was $21,963,000, and interest paid on impaired loans for 3 months for three months ended June 30, 2015 was $243,000. Interest paid for three months ended June 30, 2014 was $184,000. Total outstanding principal of troubled debt restructured loans as of June 30, 2015 was $16,025,000, of which $9,570,000 was commercial real estate loans, $1,295,000 was real estate construction loans, $3,450,000 was real estate one to four family, and $1,710,000 was commercial loans. Total outstanding principal of troubled debt restructured loans at December 31, 2014 was $16,517,000, of which $2,054,000 was commercial loans, $1,304,000 was real estate construction loans, $3,661,000 was real estate one to four family, and $9,498,000 was commercial real estate loans. Troubled Debt Restructurings Total troubled debt restructured loans outstanding at (dollars in thousands) June 30, 2015 December 31, 2014 Non- Non- Accrual accrual Total Accrual accrual Total status status modifications status status modifications Commercial real estate $ 7,462 $ 2,108 $ 9,570 $ 7,407 $ 2,091 $ 9,498 Real Estate construction 1,295 — 1,295 1,304 — 1,304 Real estate 1 to 4 family 2,973 477 3,450 3,153 508 3,661 Commercial & industrial — 1,710 1,710 294 1,760 2,054 Total $ 11,730 $ 4,295 $ 16,025 $ 12,158 $ 4,359 $ 16,517 Modification Categories The Company offers a variety of modifications to borrowers. The modification categories offered can generally be described in the following categories. Rate Modification Term Modification Interest Only Modification Payment Modification As of June 30, 2015, there were no commitments for additional funding of troubled debt restructurings. There were no new modifications for the three months ended June 30, 2015. During the periods ended June 30, 2015, no loans defaulted that were modified as troubled debt restructurings within the previous twelve months. The following table details modifications for the six months ended June 30, 2015: Modifications For the six months ended June 30, 2015 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (Dollar amounts in thousands) Real estate 1 to 4 family 1 $ 477 $ 477 Total 1 $ 477 $ 477 All restructurings were a modification of interest rate and as a result payment. The following table details modifications for the six months ended June 30, 2014: Modifications For the six months ended June 30, 2014 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (Dollar amounts in thousands) Commercial real estate 3 $ 1,454 $ 1,454 Real estate 1 to 4 family 1 572 572 Total 4 $ 2,026 $ 2,026 Modifications For the three months ended June 30, 2014 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (Dollar amounts in thousands) Commercial real estate 3 $ 1,454 $ 1,454 Total 3 $ 1,454 $ 1,454 During the period ended June 30, 2014, no loans defaulted that were modified as troubled debt restructurings within the previous twelve months following the date of restructure. All restructurings were a modification of interest rate and as a result payment. There were no principal reductions granted. Risk rating system Loans to borrowers graded as pass or pooled loans represent loans to borrowers of acceptable or better credit quality. They demonstrate sound financial positions, repayment capacity and credit history. They have an identifiable and stable source of repayment. Special mention loans have potential weaknesses that deserve management’s attention. If left uncorrected these potential weaknesses may result in a deterioration of the repayment prospects for the asset or in the Bank’s credit position at some future date. These assets are “not adversely classified” and do not expose the Bank to sufficient risk to warrant adverse classification. Substandard loans are inadequately protected by current sound net worth, paying capacity of the borrower, or pledged collateral. Loans are normally classified as Substandard when there are unsatisfactory characteristics causing more than acceptable levels of risk. A substandard loan normally has one or more well-defined weakness that could jeopardize the repayment of the debt. These well-defined weaknesses may include a) cash flow deficiency, which may jeopardize future payments; b) sale of non-collateral assets has become primary source of repayment; c) the borrower is bankrupt; or d) for any other reason, future repayment is dependent on court action. Doubtful loans represent credits with weakness inherent in the Substandard classification and where collection or liquidation in full is highly questionable. To be classified Doubtful, there must be specific pending factors which prevent the Loan Review Officer from determining the amount of loss contained in the credit. When the amount of loss can be reasonably estimated, that amount is classified as “loss” and the remainder is classified as Substandard. Real Estate – Multi-Family Our multi-family commercial real estate loans are secured by multi-family properties located primarily in San Mateo and San Francisco counties. These loans are made to investors where our primary source of repayment is from cash flows generated by the properties, through rent collections. The borrowers’ promissory notes are secured with recorded liens on the underlying properties. The borrowers would normally also be required to personally guarantee repayment of the loans. The bank uses conservative underwriting standards in reviewing applications for credit. Generally, our borrowers have multiple sources of income, so if cash flow generated from the property declines, at least in the short term, the borrowers can normally cover these short term cash flow deficiencies from their available cash reserves. Risk of loss to the Bank is increased when there are cash flow decreases sufficiently large and for such a prolonged period of time that loan payments can no longer be made by the borrowers. Commercial Real Estate Loans Our commercial real estate loans are made primarily to investors or small businesses where our primary source of repayment is from cash flows generated by the properties, either through rent collection or business profits. The borrower’s promissory notes are secured with recorded liens on the underlying property. The borrowers would normally also be required to personally guarantee repayment of the loan. The Bank uses conservative underwriting standards in reviewing applications for credit. Generally, our borrowers have multiple sources of income, so if cash flow generated from the property declines, at least in the short term, the borrowers can normally cover these short term cash flow deficiencies from their available cash reserves. Risk of loss to the Bank is increased when there are cash flow decreases sufficiently large and for such a prolonged period of time that loan payments can no longer be made by the borrowers. Real Estate Construction Loans Our real estate construction loans are generally made to borrowers who are rehabilitating a building, converting a building use from one type of use to another, or developing land and building residential or commercial structures for sale or lease. The borrower’s promissory notes are secured with recorded liens on the underlying property. The borrowers would normally also be required to personally guarantee repayment of the loan. The Bank uses conservative underwriting standards in reviewing applications for credit. Generally, our borrowers have sufficient resources to make the required construction loan payments during the construction and absorption or lease-up period. After construction is complete, the loans are normally paid off from proceeds from the sale of the building or through a refinance to a commercial real estate loan. Risk of loss to the Bank is increased when there are material construction cost overruns, significant delays in the time to complete the project and/or there has been a material drop in the value of the projects in the marketplace since the inception of the loan. Real Estate-1 to 4 family Loans Our residential real estate loans are generally made to borrowers who are buying or refinancing their primary personal residence or a rental property of 1-4 single family residential units. The Bank uses conservative underwriting standards in reviewing applications for credit. Risk of loss to the Bank is increased when borrowers lose their primary source of income and/or property values decline significantly. Commercial and Industrial Loans Our commercial and industrial loans are generally made to small businesses to provide them with at least some of the working capital necessary to fund their daily business operations. These loans are generally either unsecured or secured by fixed assets, accounts receivable and/or inventory. The borrowers would normally also be required to personally guarantee repayment of the loan. The Bank uses conservative underwriting standards in reviewing applications for credit. Risk of loss to the Bank is increased when our small business customers experience a significant business downturn, incur significant financial losses, or file for relief from creditors through bankruptcy proceedings. Consumer Loans Our consumer and installment loans generally consist of personal loans, credit card loans, automobile loans or other loans secured by personal property. The Bank uses conservative underwriting standards in reviewing applications for credit. Risk of loss to the Bank is increased when borrowers lose their primary source of income, or file for relief from creditors through bankruptcy proceedings. Age Analysis of Past Due Loans As of June 30, 2015 (Dollar amounts in thousands) 30-59 60-89 Days Days Over Total Past Past 90 Past Total Originated Due Due Days Due Current Loans Commercial real estate $ — $ 612 $ 143 $ 755 $ 297,699 $ 298,454 Real estate construction — — — — 30,744 30,744 Real estate multi family — — — — 41,620 41,620 Real estate 1 to 4 family 110 — 509 619 123,192 123,811 Commercial and industrial — 170 2,006 2,176 27,473 29,649 Consumer — — — — 1,696 1,696 Total $ 110 $ 782 $ 2,658 $ 3,550 $ 522,424 $ 525,974 Purchased Not credit impaired Commercial real estate $ 108 $ 1,898 $ — $ 2,006 $ 28,522 $ 30,528 Real estate construction — — — — 1,904 1,904 Real estate multi-family — — — — 9,993 9,993 Real estate 1 to 4 family — — 400 400 3,689 4,089 Commercial and industrial — — — — 8,096 8,096 Total $ 108 $ 1,898 $ 400 $ 2,406 $ 52,204 $ 54,610 Credit impaired Commercial real estate $ — $ — $ — $ — $ 1,321 $ 1,321 Real estate construction — — — — — — Real estate multi-family — — — — — — Real estate 1 to 4 family — — — — — — Commercial and industrial — — — — — — Consumer — — — — — — Total $ — $ — $ — $ — $ 1,321 $ 1,321 At June 30, 2015, there were no loans that were 90 days or more past due where interest was still accruing. The over 90 days column includes nonaccruals that were over 90 days, but does not include loans that are in nonaccrual status for reasons other than past due. Age Analysis of Past Due Loans As of December 31, 2014 (Dollar amounts in thousands) 30-59 60-89 Days Days Over Total Past Past 90 Past Total Originated Due Due Days Due Current Loans Commercial real estate $ 8 $ 879 $ — $ 887 $ 284,365 $ 285,252 Real estate construction — 708 — 708 37,119 37,827 Real estate multi family 3,575 — — 3,575 39,804 43,379 Real estate 1 to 4 family 330 200 1,112 1,642 121,880 123,522 Commercial & industrial 775 73 1,710 2,558 39,993 42,551 Consumer — — 64 64 1,384 1,448 Total $ 4,688 $ 1,860 $ 2,886 $ 9,434 $ 524,545 $ 533,979 Purchased Not credit impaired Commercial real estate $ — $ — $ — — $ 31,852 $ 31,852 Real estate construction — — — — 1,944 1,944 Real estate multi-family — — — — 10,445 10,445 Real estate 1 to 4 family — 400 — 400 4,810 5,210 Commercial & industrial — — — — 9,111 9,111 Total $ — $ 400 $ — $ 400 $ 58,162 $ 58,562 Purchased Credit impaired Commercial real estate $ — $ — $ — $ — $ 1,323 $ 1,323 Real estate construction — — — — — — Real estate multi-family — — — — — — Real estate 1 to 4 family — — — — — — Commercial & industrial — — — — — — Total $ — $ — $ — $ — $ 1,323 $ 1,323 At December 31, 2014 there were no loans that were 90 days or more past due where interest was still accruing. Credit Quality Indicators As of June 30, 2015 (Dollar amounts in thousands) Special Sub- Total Pass mention standard Doubtful loans Commercial real estate $ 291,705 $ 1,883 $ 4,866 $ — $ 298,454 Real estate construction 29,627 — 1,117 — 30,744 Real estate multi-family 41,620 — — — 41,620 Real estate 1 to 4 family 122,603 — 1,019 189 123,811 Commercial and industrial 29,035 — 614 — 29,649 Consumer loans 1,590 — 106 — 1,696 Totals $ 516,180 $ 1,883 $ 7,722 $ 189 $ 525,974 Purchased Not credit impaired Commercial real estate $ 24,709 $ — $ 5,819 $ — $ 30,528 Real estate construction 1,904 — — — 1,904 Real estate multi-family 9,993 — — — 9,993 Real estate 1 to 4 family 3,689 — 400 — 4,089 Commercial and industrial 8,096 — — — 8,096 Total $ 48,391 $ — $ 6,219 $ — $ 54,610 Credit impaired Commercial real estate $ 1,321 Total $ 1,321 Credit Quality Indicators As of December 31, 2014 (Dollar amounts in thousands) Special Sub- Total Originated Pass mention standard Doubtful loans Commercial real estate $ 281,216 $ 1,913 $ 2,031 $ 92 $ 285,252 Real estate construction 38,962 — 1,135 — 37,827 Real estate multi-family 43,379 — — — 43,379 Real estate 1 to 4 family 122,499 — 1,023 — 123,522 Commercial & industrial 41,394 — 1,157 — 42,551 Consumer loans 1,384 — 64 — 1,448 Totals $ 528,834 $ 1,913 $ 5,410 $ 92 $ 533,979 Purchased Not credit impaired Commercial real estate $ 26,009 $ — $ 5,843 $ — $ 31,852 Real estate construction 1,944 — — — 1,944 Real estate multi-family 10,445 — — — 10,445 Real estate 1 to 4 family 4,810 — — 400 5,210 Commercial & industrial 9,111 — — — 9,111 Total $ 52,319 $ — $ 5,843 $ 400 $ 58,562 Purchased Credit impaired Commercial real estate $ 1,323 Total $ 1,323 |
F. BORROWINGS
F. BORROWINGS | 6 Months Ended |
Jun. 30, 2015 | |
BORROWINGS | |
BORROWINGS | Federal home Loan Bank advances There were no overnight advances at June 30, 2015. Corporate loan On March 27, 2014, FNB Bancorp received funding under a $6,000,000 term loan credit facility. This loan carries a variable rate of interest that fluctuates on a monthly basis. The interest rate is based on the 3 month LIBOR rate plus 4%. Payments of $50,000 in principal plus accrued interest are payable monthly. The first loan payment was due and was paid on May 1, 2014. The maturity date on this credit facility is March 26, 2019. On the maturity date, all outstanding principal plus accrued interest shall become due and payable. FNB Bancorp has pledged its stock ownership in First National Bank of Northern California as collateral subject to the terms and conditions contained in the Loan Agreement and the Pledge and Security Agreement. FNB Bancorp retains the right to prepay this debt at any time upon not less than 7 daysÂ’ prior written notice to Lender. The proceeds from this loan were contributed to the Bank as an additional capital contribution. This capital contribution qualified as Tier 1 capital for the Bank under regulatory capital guidelines. |
G. FAIR VALUE MEASUREMENT
G. FAIR VALUE MEASUREMENT | 6 Months Ended |
Jun. 30, 2015 | |
FAIR VALUE MEASUREMENT TABLES | |
FAIR VALUE MEASUREMENT | The following table presents information about the Company’s assets and liabilities measured at fair value as of June 30, 2015 and December 31, 2014, and indicates the fair value techniques used by the Company to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally corresponds with the Company’s quarterly valuation process. During the first six months of 2015 and 2014, there were no transfers between levels of fair value hierarchy. The following tables present the recorded amounts of assets measured at fair value on a recurring basis: Fair Value Measurements (Dollar amounts in thousands) at June 30, 2015, Using Quoted Prices in Active Markets Other Significant for Identical Observable Unobservable Fair Value Assets Inputs Inputs Description 6/30/2015 (Level 1) (Level 2) (Level 3) U. S. Treasury securities $ 6,019 $ 6,019 $ — $ — Obligations of U.S. Government agencies 78,773 — 78,773 — Mortgage-backed securities 66,562 — 66,562 — Obligations of states and political subdivisions 111,256 — 111,256 — Corporate debt 32,561 — 32,561 — Total assets measured at fair value $ 295,171 $ 6,019 $ 289,152 $ — Fair Value Measurements (Dollar amounts in thousands) at December 31, 2014, Using Quoted Prices in Active Markets Other Significant for Identical Observable Unobservable Fair Value Assets Inputs Inputs Description 12/31/2014 (Level 1) (Level 2) (Level 3) U. S. Treasury securities $ 3,958 $ 3,958 $ — $ — Obligations of U.S. Government agencies 63,062 — 63,062 — Mortgage-backed securities 78,417 — 78,417 — Obligations of states and political subdivisions 84,542 — 84,542 — Corporate debt 34,902 — 34,902 — Total assets measured at fair value $ 264,881 $ 3,958 $ 260,923 $ — The following tables present the recorded amounts of assets measured at fair value on a non-recurring basis: Fair Value Measurements (Dollar amounts in thousands) at June 30, 2015, Using Quoted Prices in Active Markets Other Significant for Identical Observable Unobservable Fair Value Assets Inputs Inputs Description 6/30/2015 (Level 1) (Level 2) (Level 3) Collateral dependent impaired loans: Commercial real estate $ 124 $ — $ — $ 124 Residential- 1 to 4 family 213 — — 213 Commercial and industrial 1,088 — — 1,088 Total impaired assets measured at fair value $ 1,425 $ — $ — $ 1,425 Fair Value Measurements (Dollar amounts in thousands) at December 31, 2014, Using Quoted Prices in Active Markets Other Significant for Identical Observable Unobservable Fair Value Assets Inputs Inputs Description 12/31/2014 (Level 1) (Level 2) (Level 3) Collateral dependent impaired loans: Commercial real estate $ 381 $ — $ — $ 381 Residential-1 to 4 family 323 — — 323 Commercial and industrial 1,472 — — 1,472 Consumer 56 — — 56 Total impaired assets measured at fair value $ 2,232 $ — $ — $ 2,232 The Bank does not record loans at fair value. However, from time to time, if a loan is considered impaired, a specific allocation within the allowance for loan losses may be required. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. The fair value of impaired loans is estimated using one of several methods, including collateral value, market value of similar debt, enterprise value, liquidation value and cash flows. Those impaired loans not requiring an allowance represent loans for which the value of the expected repayments or collateral exceeds the recorded investments in such loans. Impaired loans where an allowance is established based on the fair value of collateral or when the impaired loan has been written down to fair value require classification in the fair value hierarchy. If the fair value of the collateral is based on a non-observable market price or a current appraised value, the Bank records the impaired loans as nonrecurring Level 3. When an appraised value is not available, or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Bank also records the impaired loans as nonrecurring Level 3. Other real estate owned is carried at the lower of historical cost or fair value less costs to sell. An appraisal is obtained at the time the Bank acquires property through the foreclosure process. Any loan balance outstanding that exceeds the appraised value of the property is charged off against the allowance for loan loss at the time the property is acquired. Subsequent to acquisition, the Bank updates the property’s appraised value on at least an annual basis. If the value of the property has declined during the year, a loss due to valuation impairment is recorded along with a corresponding reduction in the book carrying value of the property. The Company obtains third party appraisals on its impaired loans held-for-investment and foreclosed assets to determine fair value. When the appraisals are received, Management reviews the assumptions and methodology utilized in the appraisal, as well as the overall resulting value in conjunction with independent data sources such as recent market data and industry-wide statistics. We generally use a 6% discount for selling costs which is applied to all properties, regardless of size. Generally, the third party appraisals apply the “market approach,” which is a valuation technique that uses prices and other relevant information generated by market transactions involving identical or comparable (that is, similar) assets, liabilities, or a group of assets and liabilities, such as a business. Adjustments are then made based on the type of property, age of appraisal, current status of property and other related factors to estimate the current value of collateral. The value of OREO is determined based on independent appraisals, similar to the process used for impaired loans, discussed above, and is generally classified as Level 3. Fair Values of Financial Instruments. The following methods and assumptions were used by the Company in estimating the fair value disclosures for financial instruments. Cash and Cash Equivalents including Interest Bearing Time Deposits with Financial Institutions. The carrying amounts reported in the balance sheet for cash and short-term instruments are a reasonable estimate of fair value, which will approximate their historical cost. Securities Available-for-Sale. Fair values for investment securities are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. Loans Receivable. For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values and credit risk factors. For fixed rate loans, fair values are based on discounted cash flows, credit risk factors, and liquidity factors. Other equity securities . These are mostly Federal Reserve Bank stock and Federal Home Loan Bank stock, carried in Other Assets. They are not traded, and not available for sale, and have no fair market value. Deposit liabilities. The fair values disclosed for demand deposits (e.g., interest and non-interest checking, savings, and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). The fair values for fixed-rate certificates of deposit are based on discounted cash flows. Federal Home Loan Bank Advances. The fair values of Federal Home Loan Bank Advances are based on discounted cash flows. The discount rate is equal to the market rate currently offered on similar products. Note payable. The fair value of the note payable is based on the current balance outstanding The fair value is calculated on discounted cash flows. The discount rate is equal to the market rate offered on similar products. Accrued Interest Receivable and Payable The interest receivable and payable balances approximate their fair value due to the short-term nature of their settlement dates. Undisbursed loan commitments, lines of credit, Mastercard line and standby letters of credit. The fair value of these off-balance sheet items are based on discounted cash flows of expected fundings. The Bank has excluded non-financial assets and non-financial liabilities defined by the Codification (ASC 820-10-15-A), such as Bank premises and equipment, deferred taxes and other liabilities. In addition, the Bank has not disclosed the fair value of financial instruments specifically excluded from disclosure requirements of the Financial Instruments Topic of the Codification (ASC 825-10-50-8), such as Bank-owned life insurance policies. The following table provides summary information on the estimated fair value of financial instruments at June 30, 2015: June 30, 2015 Carrying Fair Fair value measurements (Dollar amounts in thousands) amount value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 91,662 $ 91,662 $ 91,662 Interest-bearing time deposits with financial institutions 2,138 2,138 $ 2,138 Securities available for sale 295,171 295,171 6,019 289,152 Loans 581,905 582,378 $ 582,378 Other equity securities 6,069 6,069 6,069 Accrued interest receivable 3,909 3,909 3,909 Financial liabilities: Deposits 893,140 893,485 893,485 Note payable 5,250 5,250 5,250 Accrued interest payable 204 204 204 Off-balance-sheet liabilities: Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit — 1,453 1,453 The carrying amount of loans includes $6,020,000 of nonaccrual loans (loans that are not accruing interest) as of June 30, 2015. The fair value of nonaccrual loans is based on the collateral values that secure the loans or the cash flows expected to be received. The following table provides summary information on the estimated fair value of financial instruments at December 31, 2014: December 31, 2014 Carrying Fair Fair value measurements (Dollar amounts in thousands) amount value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 14,978 $ 14,978 $ 14,978 Interest-bearing time deposits with financial institutions 2,784 2,813 $ 2,813 Securities available for sale 264,881 264,881 3,958 260,923 Loans 593,864 594,524 $ 594,524 Other equity securities 5,769 5,769 5,769 Accrued interest receivable 3,725 3,725 3,725 Financial liabilities: Deposits 792,194 792,472 792,472 Federal Home Loan Bank advances 9,000 9,000 9,000 Note payable 5,550 5,550 5,550 Accrued interest payable 182 182 182 Off-balance-sheet liabilities: Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit — 1,449 1,449 The carrying amount of loans includes $5,648,000 of nonaccrual loans (loans that are not accruing interest) as of December 31, 2014. The fair value of nonaccrual loans is based on the collateral values that secure the loans or the cash flows expected to be received. |
C. EARNINGS PER SHARE CALCULA15
C. EARNINGS PER SHARE CALCULATION (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings per share data: | |
Earnings per common share (EPS) computed | (All amounts in thousands) Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Net earnings $ 2,071 $ 1,629 $ 3,870 $ 3,463 Dividends and discount accretion on preferred stock — — — (170 ) Net earnings available to common stockholders $ 2,071 $ 1,629 $ 3,870 $ 3,633 Average number of shares outstanding 4,296 4,230 4,285 4,207 Effect of dilutive options 119 130 124 135 Average number of shares outstanding used to calculate diluted earnings per share 4,415 4,367 4,409 4,349 Anti-dilutive options not included 93,751 65,940 94,882 258,741 |
D. SECURITIES AVAILABLE FOR S16
D. SECURITIES AVAILABLE FOR SALE (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
SECURITIES AVAILABLE FOR SALE TABLES | |
Schedule of amortized cost and carrying values of securities available-for-sale | (Dollar amounts in thousands) Amortized Unrealized Unrealized Fair cost gains losses value June 30, 2015: U.S. Treasury securities $ 5,996 $ 27 $ (4 ) $ 6,019 Obligations of U.S. government agencies 78,545 354 (126 ) 78,773 Mortgage-backed securities 66,150 909 (497 ) 66,562 Obligations of states and political subdivisions 109,615 2,208 (567 ) 111,256 Corporate debt 32,512 165 (116 ) 32,561 $ 292,818 $ 3,663 $ (1,310 ) $ 295,171 December 31, 2014: U.S. Treasury securities $ 3,975 $ 12 $ (29 ) $ 3,958 Obligations of U.S. government agencies 63,090 270 (298 ) 63,062 Mortgage-backed securities 78,076 1,002 (661 ) 78,417 Obligations of states and political subdivisions 82,151 2,534 (143 ) 84,542 Corporate debt 34,931 176 (205 ) 34,902 $ 262,223 $ 3,994 $ (1,336 ) $ 264,881 |
Schedule analysis of gross unrealized losses of the available-for-sale investment securities | (Dollar amounts in thousands) Less than 12 Months Total 12 Months Total or Longer Total Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses June 30, 2015 U. S. Treasury securities $ — $ — $ 2,034 $ (4 ) $ 2,034 $ (4 ) Obligations of U.S. government agencies 22,189 (71 ) 6,992 (55 ) 29,181 $ (126 ) Mortgage-backed securities 15,298 (177 ) 14,989 (320 ) 30,287 (497 ) Obligations of states and political subdivisions 36,204 (517 ) 1,831 (50 ) 38,035 (567 ) Corporate debt 9,390 (97 ) 2,483 (19 ) 11,873 (116 ) Total $ 83,081 $ (862 ) $ 28,329 $ (448 ) $ 111,410 $ (1,310 ) (Dollar amounts in thousands) Less than 12 Months Total 12 Months Total or Longer Total Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses December 31, 2014: U. S. Treasury securities $ — $ — $ 2,015 $ (29 ) $ 2,015 $ (29 ) Obligations of U.S. government agencies 13,178 (43 ) 19,116 (255 ) 32,294 (298 ) Mortgage-backed securities 5,056 (10 ) 36,382 (651 ) 41,438 (661 ) Obligations of states and political subdivisions 8,678 (49 ) 5,696 (94 ) 14,374 (143 ) Corporate debt 18,065 (125 ) 4,919 (80 ) 22,984 (205 ) Total $ 44,977 $ (227 ) $ 68,128 $ (1,109 ) $ 113,105 $ (1,336 ) |
Schedule of amortized cost and carrying value of available-for-sale debt securities by contractual maturity | (Dollar amounts in thousands) Amortized Fair Cost Value Available-for-sale: Due in one year or less $ 13,123 $ 13,230 Due after one through five years 126,436 127,345 Due after five years through ten years 124,134 125,118 Due after ten years 29,125 29,478 $ 292,818 $ 295,171 |
E. LOANS (Tables)
E. LOANS (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
LOANS TABLES | |
Schedule Of Loans Outstanding | Total (Dollar amounts in thousands) FNB Balance Bancorp June 30, June 30, 2015 Originated PNCI PCI 2015 Commercial real estate $ 298,454 $ 30,528 $ 1,321 $ 330,303 Real estate construction 30,744 1,904 — 32,648 Real estate multi-family 41,620 9,993 — 51,613 Real estate 1 to 4 family 123,811 4,089 — 127,900 Commercial & industrial 29,649 8,096 — 37,745 Consumer loans 1,696 — — 1,696 Gross loans 525,974 54,610 1,321 581,905 Net deferred loan fees (404 ) — — (404 ) Allowance for loan losses (9,836 ) — (9,836 ) Net loans $ 515,734 $ 54,610 $ 1,321 $ 571,665 Total (Dollar amounts in thousands) FNB Balance Bancorp December 31, December 31, 2014 Originated PNCI PCI 2014 Commercial real estate $ 285,252 $ 31,852 $ 1,323 $ 318,427 Real estate construction 37,827 1,944 — 39,771 Real estate multi-family 43,379 10,445 — 53,824 Real estate 1 to 4 family 123,522 5,210 — 128,732 Commercial & industrial 42,551 9,111 — 51,662 Consumer loans 1,448 — — 1,448 Gross loans 533,979 58,562 1,323 593,864 Net deferred loan fees (449 ) — — (449 ) Allowance for loan losses (9,700 ) — — (9,700 ) Net loans $ 523,830 $ 58,562 $ 1,323 $ 583,715 |
Schedule of Allowance for Credit Losses | Allowance for Credit Losses For the Three Months Ended June 30, 2015 (Dollar amounts in thousands) Real Real Estate Estate Commercial Real Estate Multi 1 to Commercial Real estate Construction family 4 family & industrial Consumer Total Allowance for credit losses Beginning balance $ 5,305 $ 1,420 $ 152 $ 1,845 $ 961 $ 61 $ 9,744 Charge-offs — — — — — (5 ) (5 ) Recoveries 16 — — — 5 1 22 Provision 706 (723 ) 46 169 (118 ) (5 ) 75 Ending balance $ 6,027 $ 697 $ 198 $ 2,014 $ 848 $ 52 $ 9,836 Ending balance: $ 133 $ — $ — $ 526 $ 236 $ 8 $ 903 Ending balance: $ 5,894 $ 697 $ 198 $ 1,488 $ 612 $ 44 $ 8,933 Allowance for Credit Losses For the Six Months Ended June 30, 2015 (Dollar amounts in thousands) Real Real Estate Estate Commercial Real Estate Multi 1 to Commercial Real Estate Construction family 4 family & industrial Consumer Total Allowance for credit losses Beginning balance $ 5,549 $ 849 $ 206 $ 1,965 $ 1,073 $ 58 $ 9,700 Charge-offs — — — (45 ) — (11 ) (56 ) Recoveries 22 — — 1 18 1 42 Provision 456 (152 ) (8 ) 93 (243 ) 4 150 Ending balance $ 6,027 $ 697 $ 198 $ 2,014 $ 848 $ 52 $ 9,836 Ending balance: $ 133 $ — $ — $ 526 $ 236 $ 8 $ 903 Ending balance: $ 5,894 $ 697 $ 198 $ 1,488 $ 612 $ 44 $ 8,933 Allowance for Credit Losses For the Three Months Ended June 30, 2014 (Dollar amounts in thousands) Real Real Estate Estate Commercial Real Estate Multi 1 to Commercial Real estate Construction family 4 family & industrial Consumer Total Allowance for credit losses Beginning balance $ 5,624 $ 735 $ 369 $ 1,835 $ 1,268 $ 66 $ 9,897 Charge-offs — (183 ) — — — (20 ) (203 ) Recoveries 1,051 — — 1 110 3 1,165 Provision (460 ) 165 96 414 (212 ) (3 ) — Ending balance $ 6,215 $ 717 $ 465 $ 2,250 $ 1,166 $ 46 $ 10,859 Ending balance: $ 128 $ — $ — $ 481 $ 151 $ — $ 760 Ending balance: $ 6,087 $ 717 $ 465 $ 1,769 $ 1,015 $ 46 $ 10,099 Allowance for Credit Losses For the Six months Ended June 30, 2014 (Dollar amounts in thousands) Real Real Estate Estate Commercial Real Estate Multi 1 to Commercial Real estate Construction family 4 family & industrial Consumer Total Allowance for credit losses Beginning balance $ 5,763 $ 734 $ 293 $ 1,788 $ 1,237 $ 64 $ 9,879 Charge-offs — (183 ) — (62 ) — (31 ) (276 ) Recoveries 1,052 — — 2 124 3 1,181 Provision (600 ) 166 172 522 (195 ) 10 75 Ending balance $ 6,215 $ 717 $ 465 $ 2,250 $ 1,166 $ 46 $ 10,859 Ending balance: $ 128 $ — $ — $ 481 $ 151 $ — $ 760 Ending balance: $ 6,087 $ 717 $ 465 $ 1,769 $ 1,015 $ 46 $ 10,099 |
Schedule of Recorded Investment in Loans | Recorded Investment in Loans at June 30, 2015 (Dollar amounts in thousands) Real Real Estate Estate Commercial Real Estate Multi 1 to Commercial Real Estate Construction family 4 family & industrial Consumer Total Loans: Ending balance $ 330,303 $ 32,648 $ 51,613 $ 127,900 $ 37,745 $ 1,696 $ 581,905 Ending balance: $ 9,544 $ 2,364 $ — $ 4,843 $ 1,938 $ 59 $ 18,748 Ending balance: $ 320,759 $ 30,284 $ 51,613 $ 123,057 $ 35,807 $ 1,637 $ 563,157 Recorded Investment in Loans at December 31, 2014 (Dollar amounts in thousands) Real Real Estate Estate Commercial Commercial Multi 1 to Commercial Real Estate Construction family 4 family & industrial Consumer Total Loans: Ending balance $ 318,427 $ 39,771 $ 53,824 $ 128,732 $ 51,662 $ 1,448 $ 593,864 Ending balance: $ 9,530 $ 2,373 $ — $ 4,333 $ 2,315 $ 64 $ 18,615 Ending balance: $ 308,897 $ 37,398 $ 53,824 $ 124,399 $ 49,347 $ 1,384 $ 575,249 Recorded Investment in Loans at June 30, 2014 (Dollar amounts in thousands) Real Real Estate Estate Commercial Real Estate Multi 1 to Commercial Real Estate Construction family 4 family & industrial Consumer Total Loans: Ending balance $ 319,661 $ 39,760 $ 53,499 $ 114,869 $ 42,545 $ 1,434 $ 571,768 Ending balance: $ 9,043 $ 2,382 $ — $ 3,847 $ 4,133 $ 9 $ 19,414 Ending balance: $ 310,618 $ 37,378 $ 53,499 $ 111,022 $ 38,412 $ 1,425 $ 552,354 |
Schedule of Impaired Loans Allowance | Impaired Loans As of and for the six months ended June 30, 2015 Unpaid Average (Dollar amounts in thousands) Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized With no related allowance recorded Commercial real estate $ 4,411 $ 5,292 $ — $ 4,437 $ 125 Commercial real estate construction 2,364 2,547 — 2,368 68 Residential- 1 to 4 family 1,478 1,481 — 1,283 31 Commercial and industrial 546 791 — 743 18 Consumer — — — — — Total 8,799 10,111 — 8,831 242 With an allowance recorded Commercial real estate $ 5,133 $ 5,138 $ 133 $ 5,172 $ 130 Commercial real estate construction — — — — — Residential- 1 to 4 family 3365 3383 526 3,397 69 Commercial and industrial 1,392 1,740 236 1,563 23 Consumer 59 59 8 61 4 Total 9,949 10,320 903 10,193 226 Total Commercial real estate $ 9,544 $ 10,430 $ 133 $ 9,609 $ 255 Commercial real estate construction 2,364 2,547 — 2,368 68 Residential - 1 to 4 family 4,843 4,864 526 4,680 100 Commercial and industrial 1,938 2,531 236 2,306 41 Consumer 59 59 8 61 4 Grand total $ 18,748 $ 20,431 $ 903 $ 19,024 $ 468 Impaired Loans As of and for the year ended December 31, 2014 Unpaid Average (Dollar amounts in thousands) Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized With no related allowance recorded Commercial real estate $ 4,462 $ 5,333 $ — $ 4,473 $ 304 Commercial real estate construction 2,373 2,556 — 1,846 150 Residential- 1 to 4 family 1,594 1,737 — 1,379 67 Commercial and industrial 582 939 — 788 54 Consumer — — — — — Total 9,011 10,565 — 8,486 575 With an allowance recorded Commercial real estate $ 5,068 $ 5,071 $ 101 $ 5,127 $ 258 Residential- 1 to 4 family 2,739 2,754 432 2,759 111 Commercial and industrial 1,733 2,100 225 1,907 33 Consumer 64 64 8 67 5 Total 9,604 9,989 766 9,860 407 Total Commercial real estate $ 9,530 $ 10,404 $ 101 $ 9,600 $ 562 Commercial real estate construction 2,373 2,556 — 1,846 150 Residential- 1 to 4 family 4,333 4,491 432 4,138 178 Commercial and industrial 2,315 3,039 225 2,695 87 Consumer 64 64 8 67 5 Grand total $ 18,615 $ 20,554 $ 766 $ 18,346 $ 982 |
Schedule of Loans On Nonaccrual Status | Loans on Nonaccrual Status as of (Dollar amounts in thousands) June 30, December 31, 2015 2014 Commercial real estate $ 2,227 $ 2,111 Real estate - 1 to 4 family 1,727 1,181 Commercial & industrial 2,007 2,292 Consumer 59 64 Total $ 6,020 $ 5,648 |
Troubled Debt Restructurings | Total troubled debt restructured loans outstanding at (dollars in thousands) June 30, 2015 December 31, 2014 Non- Non- Accrual accrual Total Accrual accrual Total status status modifications status status modifications Commercial real estate $ 7,462 $ 2,108 $ 9,570 $ 7,407 $ 2,091 $ 9,498 Real Estate construction 1,295 — 1,295 1,304 — 1,304 Real estate 1 to 4 family 2,973 477 3,450 3,153 508 3,661 Commercial & industrial — 1,710 1,710 294 1,760 2,054 Total $ 11,730 $ 4,295 $ 16,025 $ 12,158 $ 4,359 $ 16,517 |
Schedule of Short-term Debt Modifications | Modifications For the six months ended June 30, 2015 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (Dollar amounts in thousands) Real estate 1 to 4 family 1 $ 477 $ 477 Total 1 $ 477 $ 477 Modifications For the six months ended June 30, 2014 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (Dollar amounts in thousands) Commercial real estate 3 $ 1,454 $ 1,454 Real estate 1 to 4 family 1 572 572 Total 4 $ 2,026 $ 2,026 Modifications For the three months ended June 30, 2014 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (Dollar amounts in thousands) Commercial real estate 3 $ 1,454 $ 1,454 Total 3 $ 1,454 $ 1,454 |
Schedule Age Analysis Of Past Due Loans | Age Analysis of Past Due Loans As of June 30, 2015 (Dollar amounts in thousands) 30-59 60-89 Days Days Over Total Past Past 90 Past Total Originated Due Due Days Due Current Loans Commercial real estate $ — $ 612 $ 143 $ 755 $ 297,699 $ 298,454 Real estate construction — — — — 30,744 30,744 Real estate multi family — — — — 41,620 41,620 Real estate 1 to 4 family 110 — 509 619 123,192 123,811 Commercial and industrial — 170 2,006 2,176 27,473 29,649 Consumer — — — — 1,696 1,696 Total $ 110 $ 782 $ 2,658 $ 3,550 $ 522,424 $ 525,974 Purchased Not credit impaired Commercial real estate $ 108 $ 1,898 $ — $ 2,006 $ 28,522 $ 30,528 Real estate construction — — — — 1,904 1,904 Real estate multi-family — — — — 9,993 9,993 Real estate 1 to 4 family — — 400 400 3,689 4,089 Commercial and industrial — — — — 8,096 8,096 Total $ 108 $ 1,898 $ 400 $ 2,406 $ 52,204 $ 54,610 Credit impaired Commercial real estate $ — $ — $ — $ — $ 1,321 $ 1,321 Real estate construction — — — — — — Real estate multi-family — — — — — — Real estate 1 to 4 family — — — — — — Commercial and industrial — — — — — — Consumer — — — — — — Total $ — $ — $ — $ — $ 1,321 $ 1,321 Age Analysis of Past Due Loans As of December 31, 2014 (Dollar amounts in thousands) 30-59 60-89 Days Days Over Total Past Past 90 Past Total Originated Due Due Days Due Current Loans Commercial real estate $ 8 $ 879 $ — $ 887 $ 284,365 $ 285,252 Real estate construction — 708 — 708 37,119 37,827 Real estate multi family 3,575 — — 3,575 39,804 43,379 Real estate 1 to 4 family 330 200 1,112 1,642 121,880 123,522 Commercial & industrial 775 73 1,710 2,558 39,993 42,551 Consumer — — 64 64 1,384 1,448 Total $ 4,688 $ 1,860 $ 2,886 $ 9,434 $ 524,545 $ 533,979 Purchased Not credit impaired Commercial real estate $ — $ — $ — — $ 31,852 $ 31,852 Real estate construction — — — — 1,944 1,944 Real estate multi-family — — — — 10,445 10,445 Real estate 1 to 4 family — 400 — 400 4,810 5,210 Commercial & industrial — — — — 9,111 9,111 Total $ — $ 400 $ — $ 400 $ 58,162 $ 58,562 Purchased Credit impaired Commercial real estate $ — $ — $ — $ — $ 1,323 $ 1,323 Real estate construction — — — — — — Real estate multi-family — — — — — — Real estate 1 to 4 family — — — — — — Commercial & industrial — — — — — — Total $ — $ — $ — $ — $ 1,323 $ 1,323 |
Schedule Credit Quality Indicators | Credit Quality Indicators As of June 30, 2015 (Dollar amounts in thousands) Special Sub- Total Pass mention standard Doubtful loans Commercial real estate $ 291,705 $ 1,883 $ 4,866 $ — $ 298,454 Real estate construction 29,627 — 1,117 — 30,744 Real estate multi-family 41,620 — — — 41,620 Real estate 1 to 4 family 122,603 — 1,019 189 123,811 Commercial and industrial 29,035 — 614 — 29,649 Consumer loans 1,590 — 106 — 1,696 Totals $ 516,180 $ 1,883 $ 7,722 $ 189 $ 525,974 Purchased Not credit impaired Commercial real estate $ 24,709 $ — $ 5,819 $ — $ 30,528 Real estate construction 1,904 — — — 1,904 Real estate multi-family 9,993 — — — 9,993 Real estate 1 to 4 family 3,689 — 400 — 4,089 Commercial and industrial 8,096 — — — 8,096 Total $ 48,391 $ — $ 6,219 $ — $ 54,610 Credit impaired Commercial real estate $ 1,321 Total $ 1,321 Credit Quality Indicators As of December 31, 2014 (Dollar amounts in thousands) Special Sub- Total Originated Pass mention standard Doubtful loans Commercial real estate $ 281,216 $ 1,913 $ 2,031 $ 92 $ 285,252 Real estate construction 38,962 — 1,135 — 37,827 Real estate multi-family 43,379 — — — 43,379 Real estate 1 to 4 family 122,499 — 1,023 — 123,522 Commercial & industrial 41,394 — 1,157 — 42,551 Consumer loans 1,384 — 64 — 1,448 Totals $ 528,834 $ 1,913 $ 5,410 $ 92 $ 533,979 Purchased Not credit impaired Commercial real estate $ 26,009 $ — $ 5,843 $ — $ 31,852 Real estate construction 1,944 — — — 1,944 Real estate multi-family 10,445 — — — 10,445 Real estate 1 to 4 family 4,810 — — 400 5,210 Commercial & industrial 9,111 — — — 9,111 Total $ 52,319 $ — $ 5,843 $ 400 $ 58,562 Purchased Credit impaired Commercial real estate $ 1,323 Total $ 1,323 |
G. FAIR VALUE MEASUREMENT (Tabl
G. FAIR VALUE MEASUREMENT (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
FAIR VALUE MEASUREMENT TABLES {1} | |
Schedule of assets measured at fair value on a recurring basis | Fair Value Measurements (Dollar amounts in thousands) at June 30, 2015, Using Quoted Prices in Active Markets Other Significant for Identical Observable Unobservable Fair Value Assets Inputs Inputs Description 6/30/2015 (Level 1) (Level 2) (Level 3) U. S. Treasury securities $ 6,019 $ 6,019 $ — $ — Obligations of U.S. Government agencies 78,773 — 78,773 — Mortgage-backed securities 66,562 — 66,562 — Obligations of states and political subdivisions 111,256 — 111,256 — Corporate debt 32,561 — 32,561 — Total assets measured at fair value $ 295,171 $ 6,019 $ 289,152 $ — Fair Value Measurements (Dollar amounts in thousands) at December 31, 2014, Using Quoted Prices in Active Markets Other Significant for Identical Observable Unobservable Fair Value Assets Inputs Inputs Description 12/31/2014 (Level 1) (Level 2) (Level 3) U. S. Treasury securities $ 3,958 $ 3,958 $ — $ — Obligations of U.S. Government agencies 63,062 — 63,062 — Mortgage-backed securities 78,417 — 78,417 — Obligations of states and political subdivisions 84,542 — 84,542 — Corporate debt 34,902 — 34,902 — Total assets measured at fair value $ 264,881 $ 3,958 $ 260,923 $ — |
Schedule of assets measured at fair value on a non-recurring basis | Fair Value Measurements (Dollar amounts in thousands) at June 30, 2015, Using Quoted Prices in Active Markets Other Significant for Identical Observable Unobservable Fair Value Assets Inputs Inputs Description 6/30/2015 (Level 1) (Level 2) (Level 3) Collateral dependent impaired loans: Commercial real estate $ 124 $ — $ — $ 124 Residential- 1 to 4 family 213 — — 213 Commercial and industrial 1,088 — — 1,088 Total impaired assets measured at fair value $ 1,425 $ — $ — $ 1,425 Fair Value Measurements (Dollar amounts in thousands) at December 31, 2014, Using Quoted Prices in Active Markets Other Significant for Identical Observable Unobservable Fair Value Assets Inputs Inputs Description 12/31/2014 (Level 1) (Level 2) (Level 3) Collateral dependent impaired loans: Commercial real estate $ 381 $ — $ — $ 381 Residential-1 to 4 family 323 — — 323 Commercial and industrial 1,472 — — 1,472 Consumer 56 — — 56 Total impaired assets measured at fair value $ 2,232 $ — $ — $ 2,232 |
Schedule of estimated fair value of financial instruments | June 30, 2015 Carrying Fair Fair value measurements (Dollar amounts in thousands) amount value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 91,662 $ 91,662 $ 91,662 Interest-bearing time deposits with financial institutions 2,138 2,138 $ 2,138 Securities available for sale 295,171 295,171 6,019 289,152 Loans 581,905 582,378 $ 582,378 Other equity securities 6,069 6,069 6,069 Accrued interest receivable 3,909 3,909 3,909 Financial liabilities: Deposits 893,140 893,485 893,485 Note payable 5,250 5,250 5,250 Accrued interest payable 204 204 204 Off-balance-sheet liabilities: Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit — 1,453 1,453 December 31, 2014 Carrying Fair Fair value measurements (Dollar amounts in thousands) amount value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 14,978 $ 14,978 $ 14,978 Interest-bearing time deposits with financial institutions 2,784 2,813 $ 2,813 Securities available for sale 264,881 264,881 3,958 260,923 Loans 593,864 594,524 $ 594,524 Other equity securities 5,769 5,769 5,769 Accrued interest receivable 3,725 3,725 3,725 Financial liabilities: Deposits 792,194 792,472 792,472 Federal Home Loan Bank advances 9,000 9,000 9,000 Note payable 5,550 5,550 5,550 Accrued interest payable 182 182 182 Off-balance-sheet liabilities: Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit — 1,449 1,449 |
B. STOCK OPTION PLANS (Detail N
B. STOCK OPTION PLANS (Detail Narratives) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation [Abstract] | ||||
Compensation expense for options | $ 61 | $ 69 | ||
Compensation Expense | 122 | 139 | ||
Recognized income tax benefit | $ 0 | $ 245 | 0 | 245 |
Intrinsic Value Options Exercised | 625 | 259 | ||
Intrinsic Value Options Exercisable | 3,034 | $ 2,897 | 3,034 | $ 2,897 |
Unrecognized Compensation Expense Nonvested Options | $ 611 | $ 611 | ||
Non-vested options weighted average period | 3 years 2 months 12 days |
C. EARNINGS PER SHARE CALCULA20
C. EARNINGS PER SHARE CALCULATION (Dollar amounts in thousands) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings per share data: | ||||
Net earnings | $ 2,071 | $ 1,629 | $ 3,870 | $ 3,463 |
Dividends and discount accretion on preferred stock | 170 | |||
Net earnings available to common shareholders | $ 2,071 | $ 1,629 | $ 3,870 | $ 3,293 |
Average number of shares outstanding | 4,296 | 4,230 | 4,285 | 4,207 |
Effect of dilutive options | $ 119 | $ 130 | $ 124 | $ 135 |
Average number of shares outstanding used to calculate diluted earnings per share | 4,415 | 4,367 | 4,409 | 4,349 |
Anti-dilutive options not included | 93,751 | 65,940 | 94,882 | 258,741 |
D. SECURITIES AVAILABLE FOR S21
D. SECURITIES AVAILABLE FOR SALE, Amortized cost and fair values (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Available for sale securities, Amortized Cost | $ 292,818 | $ 262,223 |
Available for sale securities, Unrealized Gains | 3,663 | 3,994 |
Available for sale securities, Unrealized Losses | (1,310) | (1,336) |
Available for sale securities, Estimated Fair Value | 295,171 | 264,881 |
U.S. Treasury securities | ||
Available for sale securities, Amortized Cost | 5,996 | 3,975 |
Available for sale securities, Unrealized Gains | 27 | 12 |
Available for sale securities, Unrealized Losses | (4) | (29) |
Available for sale securities, Estimated Fair Value | 6,019 | 3,958 |
Obligations of U.S. government agencies | ||
Available for sale securities, Amortized Cost | 78,545 | 63,090 |
Available for sale securities, Unrealized Gains | 354 | 270 |
Available for sale securities, Unrealized Losses | (126) | (298) |
Available for sale securities, Estimated Fair Value | 78,773 | 63,062 |
Mortgage-backed securities | ||
Available for sale securities, Amortized Cost | 66,150 | 78,076 |
Available for sale securities, Unrealized Gains | 909 | 1,002 |
Available for sale securities, Unrealized Losses | (497) | (661) |
Available for sale securities, Estimated Fair Value | 66,562 | 78,417 |
Obligations of states and political subdivisions | ||
Available for sale securities, Amortized Cost | 109,615 | 82,151 |
Available for sale securities, Unrealized Gains | 2,208 | 2,534 |
Available for sale securities, Unrealized Losses | (567) | (143) |
Available for sale securities, Estimated Fair Value | 111,256 | 84,542 |
Corporate debt | ||
Available for sale securities, Amortized Cost | 32,512 | 34,931 |
Available for sale securities, Unrealized Gains | 165 | 176 |
Available for sale securities, Unrealized Losses | (116) | (205) |
Available for sale securities, Estimated Fair Value | $ 32,561 | $ 34,902 |
D. SECURITIES AVAILABLE FOR S22
D. SECURITIES AVAILABLE FOR SALE, Analysis of gross unrealized losses (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Less than 12 months, Total Fair Value | $ 83,081 | $ 44,977 |
Less than 12 months, Unrealized Loss | (862) | (227) |
12 months or more, Total Fair Value | 28,329 | 68,128 |
12 months or more, Unrealized Loss | (448) | (1,109) |
Total Fair Value | 111,410 | 113,105 |
Total Unrealized Loss | $ (1,310) | (1,336) |
U.S. Treasury securities | ||
Less than 12 months, Total Fair Value | 0 | |
Less than 12 months, Unrealized Loss | 0 | |
12 months or more, Total Fair Value | $ 2,034 | 2,015 |
12 months or more, Unrealized Loss | (4) | (29) |
Total Fair Value | 2,034 | 2,015 |
Total Unrealized Loss | (4) | (29) |
Obligations of U.S. government agencies | ||
Less than 12 months, Total Fair Value | 22,189 | 13,178 |
Less than 12 months, Unrealized Loss | (71) | (43) |
12 months or more, Total Fair Value | 6,992 | 19,116 |
12 months or more, Unrealized Loss | (55) | (255) |
Total Fair Value | 29,181 | 32,294 |
Total Unrealized Loss | (126) | (298) |
Mortgage-backed securities | ||
Less than 12 months, Total Fair Value | 15,298 | 5,056 |
Less than 12 months, Unrealized Loss | (177) | (10) |
12 months or more, Total Fair Value | 14,989 | 36,382 |
12 months or more, Unrealized Loss | (320) | (651) |
Total Fair Value | 30,287 | 41,438 |
Total Unrealized Loss | (497) | (661) |
Obligations of states and political subdivisions | ||
Less than 12 months, Total Fair Value | 36,204 | 8,678 |
Less than 12 months, Unrealized Loss | (517) | (49) |
12 months or more, Total Fair Value | 1,831 | 5,696 |
12 months or more, Unrealized Loss | (50) | (94) |
Total Fair Value | 38,035 | 14,374 |
Total Unrealized Loss | (567) | (143) |
Corporate debt | ||
Less than 12 months, Total Fair Value | 9,390 | 18,065 |
Less than 12 months, Unrealized Loss | (97) | (125) |
12 months or more, Total Fair Value | 2,483 | 4,919 |
12 months or more, Unrealized Loss | (19) | (80) |
Total Fair Value | 11,873 | 22,984 |
Total Unrealized Loss | $ (116) | $ (205) |
D. SECURITIES AVAILABLE FOR S23
D. SECURITIES AVAILABLE FOR SALE, Amortized Cost and Carrying Value (Details) $ in Thousands | Jun. 30, 2015USD ($) |
SECURITIES AVAILABLE FOR SALE - Summary of Investments Amortized Cost and Carrying Value | |
Due in one year or less, Amortized Cost | $ 13,123 |
Due after one through five years, Amortized Cost | 126,436 |
Due after five through ten years, Amortized Cost | 124,134 |
Due after ten years, Amortized Cost | 29,125 |
Equity securities, Amortized Cost | 292,818 |
Due in one year or less, Estimated Fair Value | 13,230 |
Due after one through five years, Estimated Fair Value | 127,345 |
Due after five through ten years, Estimated Fair Value | 125,118 |
Due after ten years, Estimated Fair Value | 29,478 |
Equity securities, Estimated Fair Value | $ 295,171 |
D. SECURITIES AVAILABLE FOR S24
D. SECURITIES AVAILABLE FOR SALE (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
D. Securities Available For Sale Details Narrative | ||||
Gross realized gains | $ 152 | $ 28 | $ 221 | $ 39 |
Sell of securities | 1,916 | 4,044 | 19,228 | 5,067 |
Gross realized losses | 0 | $ 0 | 0 | $ 0 |
Amortized cost | 106,152 | 106,152 | ||
Fair value of pledged as collateral for public deposits | $ 107,069 | $ 107,069 |
E. LOANS, Summary of Loan as fo
E. LOANS, Summary of Loan as follows (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Gross loans | $ 581,905 | $ 593,864 |
Net deferred loan fees | (404) | (449) |
Allowance for loan losses | (9,836) | (9,700) |
Net loans | 571,665 | 583,715 |
Commercial real estate | ||
Gross loans | 330,303 | 318,427 |
Real estate construction | ||
Gross loans | 32,648 | 39,771 |
Real Estate Multi family | ||
Gross loans | 51,613 | 53,824 |
Real Estate 1 to 4 family | ||
Gross loans | 127,900 | 128,732 |
Commercial and industrial | ||
Gross loans | 37,745 | 51,662 |
Consumer | ||
Gross loans | 1,696 | 1,448 |
FNB Bancorp Originated | ||
Gross loans | 525,974 | 533,979 |
Net deferred loan fees | (404) | (449) |
Allowance for loan losses | (9,836) | (9,700) |
Net loans | 515,734 | 523,830 |
FNB Bancorp Originated | Commercial real estate | ||
Gross loans | 298,454 | 285,252 |
FNB Bancorp Originated | Real estate construction | ||
Gross loans | 30,744 | 37,827 |
FNB Bancorp Originated | Real Estate Multi family | ||
Gross loans | 41,620 | 43,379 |
FNB Bancorp Originated | Real Estate 1 to 4 family | ||
Gross loans | 123,811 | 123,522 |
FNB Bancorp Originated | Commercial and industrial | ||
Gross loans | 29,649 | 42,551 |
FNB Bancorp Originated | Consumer | ||
Gross loans | 1,696 | 1,448 |
PNCI | ||
Gross loans | $ 54,610 | 58,562 |
Net deferred loan fees | 0 | |
Allowance for loan losses | 0 | |
Net loans | $ 54,610 | 58,562 |
PNCI | Commercial real estate | ||
Gross loans | 30,528 | 31,852 |
PNCI | Real estate construction | ||
Gross loans | 1,904 | 1,944 |
PNCI | Real Estate Multi family | ||
Gross loans | 9,993 | 10,445 |
PNCI | Real Estate 1 to 4 family | ||
Gross loans | 4,089 | 5,210 |
PNCI | Commercial and industrial | ||
Gross loans | $ 8,096 | 9,111 |
PNCI | Consumer | ||
Gross loans | 0 | |
PCI | ||
Gross loans | $ 1,321 | 1,323 |
Net deferred loan fees | 0 | |
Allowance for loan losses | 0 | |
Net loans | $ 1,321 | 1,323 |
PCI | Commercial real estate | ||
Gross loans | $ 1,321 | 1,323 |
PCI | Real estate construction | ||
Gross loans | 0 | |
PCI | Real Estate Multi family | ||
Gross loans | 0 | |
PCI | Real Estate 1 to 4 family | ||
Gross loans | 0 | |
PCI | Commercial and industrial | ||
Gross loans | 0 | |
PCI | Consumer | ||
Gross loans | $ 0 |
E. LOANS, Allowance for Credit
E. LOANS, Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Commercial and Real estate | ||||
Allowance for credit losses | ||||
Beginning balance | $ 5,305 | $ 5,624 | $ 5,549 | $ 5,763 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 16 | 1,051 | 22 | 1,052 |
Provision | 706 | (460) | 456 | (600) |
Ending balance | 6,027 | 6,215 | 6,027 | 6,215 |
Ending balance: individually evaluated for impairment | 133 | 128 | 133 | 128 |
Ending balance: collectively evaluated for impairment | 5,894 | 6,087 | 5,894 | 6,087 |
Real Estate Construction | ||||
Allowance for credit losses | ||||
Beginning balance | 1,420 | 735 | 849 | 734 |
Charge-offs | 0 | (183) | 0 | (183) |
Recoveries | 0 | 0 | 0 | 0 |
Provision | (723) | 165 | (152) | 166 |
Ending balance | 697 | 717 | 697 | 717 |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 697 | 717 | 697 | 717 |
Real Estate Multi family | ||||
Allowance for credit losses | ||||
Beginning balance | 152 | 369 | 206 | 293 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision | 46 | 96 | (8) | 172 |
Ending balance | 198 | 465 | 198 | 465 |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 198 | 465 | 198 | 465 |
Real Estate 1 to 4 family | ||||
Allowance for credit losses | ||||
Beginning balance | 1,845 | 1,835 | 1,965 | 1,788 |
Charge-offs | 0 | 0 | (45) | (62) |
Recoveries | 0 | 1 | 1 | 2 |
Provision | 169 | 414 | 93 | 522 |
Ending balance | 2,014 | 2,250 | 2,014 | 2,250 |
Ending balance: individually evaluated for impairment | 526 | 481 | 526 | 481 |
Ending balance: collectively evaluated for impairment | 1,488 | 1,769 | 1,488 | 1,769 |
Commercial and industrial | ||||
Allowance for credit losses | ||||
Beginning balance | 961 | 1,268 | 1,073 | 1,237 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 5 | 110 | 18 | 124 |
Provision | (118) | (212) | (243) | (195) |
Ending balance | 848 | 1,166 | 848 | 1,166 |
Ending balance: individually evaluated for impairment | 236 | 151 | 236 | 151 |
Ending balance: collectively evaluated for impairment | 612 | 1,015 | 612 | 1,015 |
Consumer | ||||
Allowance for credit losses | ||||
Beginning balance | 61 | 66 | 58 | 64 |
Charge-offs | (5) | (20) | (11) | (31) |
Recoveries | 1 | 3 | 1 | 3 |
Provision | (5) | (3) | 4 | 10 |
Ending balance | 52 | 46 | 52 | 46 |
Ending balance: individually evaluated for impairment | 8 | 0 | 8 | 0 |
Ending balance: collectively evaluated for impairment | 44 | 46 | 44 | 46 |
Total | ||||
Allowance for credit losses | ||||
Beginning balance | 9,744 | 9,897 | 9,700 | 9,879 |
Charge-offs | (5) | (203) | (56) | (276) |
Recoveries | 22 | 1,165 | 42 | 1,181 |
Provision | 75 | 0 | 150 | 75 |
Ending balance | 9,836 | 10,859 | 9,836 | 10,859 |
Ending balance: individually evaluated for impairment | 903 | 760 | 903 | 760 |
Ending balance: collectively evaluated for impairment | $ 8,933 | $ 10,099 | $ 8,933 | $ 10,099 |
E. LOANS, Recorded Investment i
E. LOANS, Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Commercial and Real estate | |||
Ending balance | $ 330,303 | $ 318,427 | $ 319,661 |
Ending balance: individually evaluated for impairment | 9,544 | 9,530 | 9,043 |
Ending balance: collectively evaluated for impairment | 320,759 | 308,897 | 310,618 |
Real Estate Construction | |||
Ending balance | 32,648 | 39,771 | 39,760 |
Ending balance: individually evaluated for impairment | 2,364 | 2,373 | 2,382 |
Ending balance: collectively evaluated for impairment | 30,284 | 37,398 | 37,378 |
Real Estate Multi family | |||
Ending balance | 51,613 | 53,824 | 53,499 |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 51,613 | 53,824 | 53,499 |
Real Estate 1 to 4 family | |||
Ending balance | 127,900 | 128,732 | 114,869 |
Ending balance: individually evaluated for impairment | 4,843 | 4,333 | 3,847 |
Ending balance: collectively evaluated for impairment | 123,057 | 124,399 | 111,022 |
Commercial and industrial | |||
Ending balance | 37,745 | 51,662 | 42,545 |
Ending balance: individually evaluated for impairment | 1,938 | 2,315 | 4,133 |
Ending balance: collectively evaluated for impairment | 35,807 | 49,347 | 38,412 |
Consumer | |||
Ending balance | 1,696 | 1,448 | 1,434 |
Ending balance: individually evaluated for impairment | 59 | 64 | 9 |
Ending balance: collectively evaluated for impairment | 1,637 | 1,384 | 1,425 |
Total | |||
Ending balance | 581,905 | 593,864 | 571,768 |
Ending balance: individually evaluated for impairment | 18,748 | 18,615 | 19,414 |
Ending balance: collectively evaluated for impairment | $ 563,157 | $ 575,249 | $ 552,354 |
E. LOANS, Impaired Loans Allowa
E. LOANS, Impaired Loans Allowance (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
With no related allowance, Recorded Investment | $ 8,799 | $ 8,799 | $ 9,011 | ||
With no related allowance, Unpaid Principal Balance | 10,111 | 10,111 | 10,565 | ||
With no related allowance recorded, Related Allowance | 0 | 0 | |||
With no related allowance, Average Recorded Investment | 8,831 | 8,486 | |||
With no related allowance, Income Recognized | 242 | 575 | |||
With an allowance recorded, Recorded Investment | 9,949 | 9,949 | 9,604 | ||
With an allowance recorded, Unpaid Principal Balance | 10,320 | 10,320 | 9,989 | ||
With an allowance recorded, Related Allowance | 903 | 903 | 766 | ||
With an allowance recorded, Average Impaired Balance | 10,193 | 9,860 | |||
With an allowance recorded, Income Recognized | 226 | 407 | |||
Recorded Investment | 18,748 | 18,748 | 18,615 | ||
Unpaid Principal Balance | 20,431 | 20,431 | 20,554 | ||
Related Allowance | 903 | 903 | 766 | ||
Average Recorded Investment | 19,024 | 18,346 | |||
Income Recognized | 243 | $ 184 | 468 | $ 455 | 982 |
Commercial real estate | |||||
With no related allowance, Recorded Investment | 4,411 | 4,411 | 4,462 | ||
With no related allowance, Unpaid Principal Balance | 5,292 | 5,292 | 5,333 | ||
With no related allowance recorded, Related Allowance | 0 | 0 | |||
With no related allowance, Average Recorded Investment | 4,437 | 4,473 | |||
With no related allowance, Income Recognized | 125 | 304 | |||
With an allowance recorded, Recorded Investment | 5,133 | 5,133 | 5,068 | ||
With an allowance recorded, Unpaid Principal Balance | 5,138 | 5,138 | 5,071 | ||
With an allowance recorded, Related Allowance | 133 | 133 | 101 | ||
With an allowance recorded, Average Impaired Balance | 5,172 | 5,127 | |||
With an allowance recorded, Income Recognized | 130 | 258 | |||
Recorded Investment | 9,544 | 9,544 | 9,530 | ||
Unpaid Principal Balance | 10,430 | 10,430 | 10,404 | ||
Related Allowance | 133 | 133 | 101 | ||
Average Recorded Investment | 9,609 | 9,600 | |||
Income Recognized | 255 | 562 | |||
Commercial real estate construction | |||||
With no related allowance, Recorded Investment | 2,364 | 2,364 | 2,373 | ||
With no related allowance, Unpaid Principal Balance | 2,547 | 2,547 | 2,556 | ||
With no related allowance recorded, Related Allowance | 0 | 0 | |||
With no related allowance, Average Recorded Investment | 2,368 | 1,846 | |||
With no related allowance, Income Recognized | 68 | 150 | |||
With an allowance recorded, Recorded Investment | 0 | 0 | 0 | ||
With an allowance recorded, Unpaid Principal Balance | 0 | 0 | 0 | ||
With an allowance recorded, Related Allowance | 0 | 0 | 0 | ||
With an allowance recorded, Average Impaired Balance | 0 | 0 | |||
With an allowance recorded, Income Recognized | 0 | 0 | |||
Recorded Investment | 2,364 | 2,364 | 2,373 | ||
Unpaid Principal Balance | $ 2,547 | $ 2,547 | 2,556 | ||
Related Allowance | 0 | ||||
Average Recorded Investment | $ 2,368 | 1,846 | |||
Income Recognized | 68 | 150 | |||
Real Estate 1 to 4 family | |||||
With no related allowance, Recorded Investment | $ 1,478 | 1,478 | 1,594 | ||
With no related allowance, Unpaid Principal Balance | 1,481 | 1,481 | 1,737 | ||
With no related allowance recorded, Related Allowance | 0 | 0 | |||
With no related allowance, Average Recorded Investment | 1,283 | 1,379 | |||
With no related allowance, Income Recognized | 31 | 67 | |||
With an allowance recorded, Recorded Investment | 3,365 | 3,365 | 2,739 | ||
With an allowance recorded, Unpaid Principal Balance | 3,383 | 3,383 | 2,754 | ||
With an allowance recorded, Related Allowance | 526 | 526 | 432 | ||
With an allowance recorded, Average Impaired Balance | 3,397 | 2,759 | |||
With an allowance recorded, Income Recognized | 69 | 111 | |||
Recorded Investment | 4,843 | 4,843 | 4,333 | ||
Unpaid Principal Balance | 4,864 | 4,864 | 4,491 | ||
Related Allowance | 526 | 526 | 432 | ||
Average Recorded Investment | 4,680 | 4,138 | |||
Income Recognized | 100 | 178 | |||
Commercial and industrial | |||||
With no related allowance, Recorded Investment | 546 | 546 | 582 | ||
With no related allowance, Unpaid Principal Balance | 791 | 791 | 939 | ||
With no related allowance recorded, Related Allowance | 0 | 0 | |||
With no related allowance, Average Recorded Investment | 743 | 788 | |||
With no related allowance, Income Recognized | 18 | 54 | |||
With an allowance recorded, Recorded Investment | 1,392 | 1,392 | 1,733 | ||
With an allowance recorded, Unpaid Principal Balance | 1,740 | 1,740 | 2,100 | ||
With an allowance recorded, Related Allowance | 236 | 236 | 225 | ||
With an allowance recorded, Average Impaired Balance | 1,563 | 1,907 | |||
With an allowance recorded, Income Recognized | 23 | 33 | |||
Recorded Investment | 1,938 | 1,938 | 2,315 | ||
Unpaid Principal Balance | 2,531 | 2,531 | 3,039 | ||
Related Allowance | 236 | 236 | 225 | ||
Average Recorded Investment | 2,306 | 2,695 | |||
Income Recognized | 41 | 87 | |||
Consumer | |||||
With no related allowance, Recorded Investment | 0 | 0 | 0 | ||
With no related allowance, Unpaid Principal Balance | 0 | 0 | 0 | ||
With no related allowance recorded, Related Allowance | 0 | 0 | |||
With no related allowance, Average Recorded Investment | 0 | 0 | |||
With no related allowance, Income Recognized | 0 | 0 | |||
With an allowance recorded, Recorded Investment | 59 | 59 | 64 | ||
With an allowance recorded, Unpaid Principal Balance | 59 | 59 | 64 | ||
With an allowance recorded, Related Allowance | 8 | 8 | 8 | ||
With an allowance recorded, Average Impaired Balance | 61 | 67 | |||
With an allowance recorded, Income Recognized | 4 | 5 | |||
Recorded Investment | 59 | 59 | 64 | ||
Unpaid Principal Balance | 59 | 59 | 64 | ||
Related Allowance | $ 8 | 8 | 8 | ||
Average Recorded Investment | 61 | 67 | |||
Income Recognized | $ 4 | $ 5 |
E. LOANS, Nonaccrual (Details)
E. LOANS, Nonaccrual (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Loans, Nonaccrual Status | $ 6,020 | $ 5,648 |
Commercial real estate | ||
Loans, Nonaccrual Status | 2,227 | 2,111 |
Real Estate 1 to 4 family | ||
Loans, Nonaccrual Status | 1,727 | 1,181 |
Commercial and industrial | ||
Loans, Nonaccrual Status | 2,007 | 2,292 |
Consumer | ||
Loans, Nonaccrual Status | $ 59 | $ 64 |
E. LOANS, Troubled Debt Restruc
E. LOANS, Troubled Debt Restructurings (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Troubled debt restructured loans outstanding, accrual status | $ 11,730 | $ 12,158 |
Troubled debt restructured loans outstanding, nonaccrual status | 4,295 | 4,359 |
Total modifications | 16,025 | 16,517 |
Commercial real estate | ||
Troubled debt restructured loans outstanding, accrual status | 7,462 | 7,407 |
Troubled debt restructured loans outstanding, nonaccrual status | 2,108 | 2,091 |
Total modifications | 9,570 | 9,498 |
Real Estate Construction | ||
Troubled debt restructured loans outstanding, accrual status | 1,295 | 1,304 |
Troubled debt restructured loans outstanding, nonaccrual status | 0 | 0 |
Total modifications | 1,295 | 1,304 |
Real Estate 1 to 4 family | ||
Troubled debt restructured loans outstanding, accrual status | 2,973 | 3,153 |
Troubled debt restructured loans outstanding, nonaccrual status | 477 | 508 |
Total modifications | 3,450 | 3,661 |
Commercial and industrial | ||
Troubled debt restructured loans outstanding, accrual status | 0 | 294 |
Troubled debt restructured loans outstanding, nonaccrual status | 1,710 | 1,760 |
Total modifications | $ 1,710 | $ 2,054 |
E. LOANS, Payment Modification
E. LOANS, Payment Modification (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | |
Number of Modifications | 3 | 1 | 4 |
Pre-modification Recorded Investment | $ 1,454 | $ 477 | $ 2,026 |
Post-modification Recorded Investment | $ 1,454 | $ 477 | $ 2,026 |
Real Estate 1 to 4 family | |||
Number of Modifications | 1 | 1 | |
Pre-modification Recorded Investment | $ 477 | $ 572 | |
Post-modification Recorded Investment | $ 477 | $ 572 | |
Commercial real estate | |||
Number of Modifications | 3 | 3 | |
Pre-modification Recorded Investment | $ 1,454 | $ 1,454 | |
Post-modification Recorded Investment | $ 1,454 | $ 1,454 |
E. LOANS, Credit Quality Indica
E. LOANS, Credit Quality Indicators Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Pass | ||
Commercial real estate | $ 291,705 | $ 281,216 |
Real estate construction | 29,627 | 38,962 |
Real estate multi-family | 41,620 | 43,379 |
Real estate 1 to 4 family | 122,603 | 122,499 |
Commercial & industrial | 29,035 | 41,394 |
Consumer loans | 1,590 | 1,384 |
Totals | 516,180 | 528,834 |
Commercial real estate | 24,709 | 26,009 |
Real estate construction | 1,904 | 1,944 |
Real estate multi-family | 9,993 | 10,445 |
Real estate 1 to 4 family | 3,689 | 4,810 |
Commercial & industrial | 8,096 | 9,111 |
Total | 48,391 | 52,319 |
Special mention | ||
Commercial real estate | 1,883 | 1,913 |
Real estate construction | 0 | 0 |
Real estate multi-family | 0 | 0 |
Real estate 1 to 4 family | 0 | 0 |
Commercial & industrial | 0 | 0 |
Consumer loans | 0 | 0 |
Totals | 1,883 | 1,913 |
Commercial real estate | 0 | 0 |
Real estate construction | 0 | 0 |
Real estate multi-family | 0 | 0 |
Real estate 1 to 4 family | 0 | 0 |
Commercial & industrial | 0 | 0 |
Total | 0 | 0 |
Sub Standard | ||
Commercial real estate | 4,866 | 2,031 |
Real estate construction | 1,117 | 1,135 |
Real estate multi-family | 0 | 0 |
Real estate 1 to 4 family | 1,019 | 1,023 |
Commercial & industrial | 614 | 1,157 |
Consumer loans | 106 | 64 |
Totals | 7,722 | 5,410 |
Commercial real estate | 5,819 | 5,843 |
Real estate construction | 0 | 0 |
Real estate multi-family | 0 | 0 |
Real estate 1 to 4 family | 400 | 0 |
Commercial & industrial | 0 | 0 |
Total | 6,219 | 5,843 |
Doubtful | ||
Commercial real estate | 0 | 92 |
Real estate construction | 0 | 0 |
Real estate multi-family | 0 | 0 |
Real estate 1 to 4 family | 189 | 0 |
Commercial & industrial | 0 | 0 |
Consumer loans | 0 | 0 |
Totals | 189 | 92 |
Commercial real estate | 0 | 0 |
Real estate construction | 0 | 0 |
Real estate multi-family | 0 | 0 |
Real estate 1 to 4 family | 0 | 400 |
Commercial & industrial | 0 | 0 |
Total | 0 | 400 |
Total loans | ||
Commercial real estate | 298,454 | 285,252 |
Real estate construction | 30,744 | 37,827 |
Real estate multi-family | 41,620 | 43,379 |
Real estate 1 to 4 family | 123,811 | 123,522 |
Commercial & industrial | 29,649 | 42,551 |
Consumer loans | 1,696 | 1,448 |
Totals | 525,974 | 533,979 |
Commercial real estate | 30,528 | 31,852 |
Real estate construction | 1,904 | 1,944 |
Real estate multi-family | 9,993 | 10,445 |
Real estate 1 to 4 family | 4,089 | 5,210 |
Commercial & industrial | 8,096 | 9,111 |
Total | 54,610 | 58,562 |
Commercial real estate | 1,321 | 1,323 |
Total | $ 1,321 | $ 1,323 |
E. LOANS, (Details Narrative)
E. LOANS, (Details Narrative) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Investment on impaired loans | $ 18,963 | $ 21,963 | $ 19,211 | ||
Interest income on impaired loans recognized | 243 | 184 | 468 | $ 455 | $ 982 |
Interest on impaired loans not collected | 92 | 64 | 198 | $ 214 | 398 |
Cumulative amount of unpaid interest on impaired loans | 3,142 | 3,829 | |||
Nonaccrual loans | 6,020 | 6,020 | 5,648 | ||
Interest paid on impaired loans | 243 | $ 184 | |||
Total outstanding principal of troubled debt restructured loans | 16,025 | 16,025 | 16,517 | ||
Commercial real estate | |||||
Interest income on impaired loans recognized | 255 | 562 | |||
Nonaccrual loans | 2,227 | 2,227 | 2,111 | ||
Total outstanding principal of troubled debt restructured loans | 9,570 | 9,570 | 9,498 | ||
Real estate construction | |||||
Total outstanding principal of troubled debt restructured loans | 1,295 | 1,295 | |||
Real Estate 1 to 4 family | |||||
Interest income on impaired loans recognized | 100 | 178 | |||
Nonaccrual loans | 1,727 | 1,727 | 1,181 | ||
Total outstanding principal of troubled debt restructured loans | 3,450 | 3,450 | 3,661 | ||
Commercial and industrial | |||||
Interest income on impaired loans recognized | 41 | 87 | |||
Nonaccrual loans | 2,007 | 2,007 | 2,292 | ||
Total outstanding principal of troubled debt restructured loans | $ 1,710 | $ 1,710 | 2,054 | ||
Real Estate Construction | |||||
Total outstanding principal of troubled debt restructured loans | $ 1,304 |
G. FAIR VALUE MEASUREMENT, Asse
G. FAIR VALUE MEASUREMENT, Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
U. S. Treasury securities | $ 6,019 | $ 3,958 |
Obligations of U.S. Government agencies | 78,773 | 63,062 |
Mortgage-backed securities | 66,562 | 78,417 |
Obligations of states and political subdivisions | 111,256 | 84,542 |
Corporate debt | 32,561 | 34,902 |
Total assets measured at fair value | 295,171 | 264,881 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
U. S. Treasury securities | 6,019 | 3,958 |
Obligations of U.S. Government agencies | 0 | 0 |
Mortgage-backed securities | 0 | 0 |
Obligations of states and political subdivisions | 0 | 0 |
Corporate debt | 0 | 0 |
Total assets measured at fair value | 6,019 | 3,958 |
Other Observable Inputs (Level 2) | ||
U. S. Treasury securities | 0 | 0 |
Obligations of U.S. Government agencies | 78,773 | 63,062 |
Mortgage-backed securities | 66,562 | 78,417 |
Obligations of states and political subdivisions | 111,256 | 84,542 |
Corporate debt | 32,561 | 34,902 |
Total assets measured at fair value | 289,152 | 260,923 |
Significant Unobservable Inputs(Level 3) | ||
U. S. Treasury securities | 0 | 0 |
Obligations of U.S. Government agencies | 0 | 0 |
Mortgage-backed securities | 0 | 0 |
Obligations of states and political subdivisions | 0 | 0 |
Corporate debt | 0 | 0 |
Total assets measured at fair value | $ 0 | $ 0 |
G. FAIR VALUE MEASUREMENT, Nonr
G. FAIR VALUE MEASUREMENT, Nonrecurring basis (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value | ||
Commercial real estate | $ 124 | $ 381 |
Residential- 1 to 4 family | 213 | 323 |
Commercial and Industrial | 1,088 | 1,472 |
Consumer | 56 | |
Total impaired assets measured at fair value | 1,425 | 2,232 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Commercial real estate | 0 | 0 |
Residential- 1 to 4 family | 0 | 0 |
Commercial and Industrial | 0 | 0 |
Consumer | 0 | |
Total impaired assets measured at fair value | 0 | 0 |
Other Observable Inputs (Level 2) | ||
Commercial real estate | 0 | 0 |
Residential- 1 to 4 family | 0 | 0 |
Commercial and Industrial | 0 | 0 |
Consumer | 0 | |
Total impaired assets measured at fair value | 0 | 0 |
Significant Unobservable Inputs(Level 3) | ||
Commercial real estate | 124 | 381 |
Residential- 1 to 4 family | 213 | 323 |
Commercial and Industrial | 1,088 | 1,472 |
Consumer | 56 | |
Total impaired assets measured at fair value | $ 1,425 | $ 2,232 |
G. FAIR VALUE MEASUREMENT, Fina
G. FAIR VALUE MEASUREMENT, Financial instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Financial assets: | ||||
Cash and cash equivalents | $ 91,662 | $ 14,978 | $ 21,682 | $ 14,007 |
Interest-bearing time deposits with financial Institutions | 2,138 | 2,784 | ||
Other Equity Securities | 295,171 | |||
Accrued interest receivable | 3,909 | 3,725 | ||
Financial liabilities: | ||||
Deposits | 893,140 | 792,194 | ||
Notes payable | 5,250 | 5,550 | ||
Carrying Amount | ||||
Financial assets: | ||||
Cash and cash equivalents | 91,662 | 14,978 | ||
Interest-bearing time deposits with financial Institutions | 2,138 | 2,784 | ||
Securities available for sale | 295,171 | 264,881 | ||
Loans | 581,905 | 593,864 | ||
Other Equity Securities | 6,069 | 5,769 | ||
Accrued interest receivable | 3,909 | 3,725 | ||
Financial liabilities: | ||||
Deposits | 893,140 | 792,194 | ||
Federal Home Loan Bank advances | 9,000 | |||
Notes payable | 5,250 | 5,550 | ||
Accrued interest payable | 204 | 182 | ||
Off-balance-sheet liabilities: | ||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | 0 | 0 | ||
Fair Value | ||||
Financial assets: | ||||
Cash and cash equivalents | 91,662 | 14,978 | ||
Interest-bearing time deposits with financial Institutions | 2,138 | 2,813 | ||
Securities available for sale | 295,171 | 264,881 | ||
Loans | 582,378 | 594,524 | ||
Other Equity Securities | 6,069 | 5,769 | ||
Accrued interest receivable | 3,909 | 3,725 | ||
Financial liabilities: | ||||
Deposits | 893,485 | 792,472 | ||
Federal Home Loan Bank advances | 9,000 | |||
Notes payable | 5,250 | 5,550 | ||
Accrued interest payable | 204 | 182 | ||
Off-balance-sheet liabilities: | ||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | 1,453 | 1,449 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||||
Financial assets: | ||||
Cash and cash equivalents | 91,662 | 14,978 | ||
Interest-bearing time deposits with financial Institutions | 0 | 0 | ||
Securities available for sale | 6,019 | 3,958 | ||
Loans | 0 | 0 | ||
Other Equity Securities | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Financial liabilities: | ||||
Deposits | 0 | 0 | ||
Federal Home Loan Bank advances | 0 | |||
Notes payable | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Off-balance-sheet liabilities: | ||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | 0 | 0 | ||
Other Observable Inputs (Level 2) | ||||
Financial assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Interest-bearing time deposits with financial Institutions | 2,138 | 2,813 | ||
Securities available for sale | 289,152 | 260,923 | ||
Loans | 0 | 0 | ||
Other Equity Securities | 0 | 0 | ||
Accrued interest receivable | 3,909 | 3,725 | ||
Financial liabilities: | ||||
Deposits | 893,485 | 792,472 | ||
Federal Home Loan Bank advances | 9,000 | |||
Notes payable | 5,250 | 5,550 | ||
Accrued interest payable | 204 | 182 | ||
Off-balance-sheet liabilities: | ||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | 0 | 0 | ||
Significant Unobservable Inputs(Level 3) | ||||
Financial assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Interest-bearing time deposits with financial Institutions | 0 | 0 | ||
Securities available for sale | 0 | |||
Loans | 582,378 | 594,524 | ||
Other Equity Securities | 6,069 | 5,769 | ||
Accrued interest receivable | 0 | 0 | ||
Financial liabilities: | ||||
Deposits | 0 | 0 | ||
Federal Home Loan Bank advances | 0 | |||
Notes payable | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Off-balance-sheet liabilities: | ||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | $ 1,453 | $ 1,449 |
G. FAIR VALUE MEASUREMENT (Deta
G. FAIR VALUE MEASUREMENT (Details Narrative) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
FAIR VALUE MEASUREMENT TABLES | ||
Nonaccrual loans | $ 6,020 | $ 5,648 |
E. LOANS, Past due loans (Detai
E. LOANS, Past due loans (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Originated | ||
Past Due, Total | $ 3,550 | $ 9,434 |
Current | 522,424 | 524,545 |
Total Loans | 525,974 | 533,979 |
Originated | Past Due, 30 - 59 days | ||
Past Due, Total | 110 | 4,688 |
Originated | Past Due, 60 - 89 days | ||
Past Due, Total | 782 | 2,886 |
Originated | Past Due, More than 90 days | ||
Past Due, Total | 2,658 | 1,860 |
Originated | Commercial real estate | ||
Past Due, Total | 755 | 887 |
Current | 297,699 | 284,365 |
Total Loans | 298,454 | 285,252 |
Originated | Commercial real estate | Past Due, 30 - 59 days | ||
Past Due, Total | 0 | 8 |
Originated | Commercial real estate | Past Due, 60 - 89 days | ||
Past Due, Total | 612 | 879 |
Originated | Commercial real estate | Past Due, More than 90 days | ||
Past Due, Total | 143 | 0 |
Originated | Real Estate Construction | ||
Past Due, Total | 0 | 708 |
Current | 30,744 | 37,119 |
Total Loans | 30,744 | 37,827 |
Originated | Real Estate Construction | Past Due, 30 - 59 days | ||
Past Due, Total | 0 | 0 |
Originated | Real Estate Construction | Past Due, 60 - 89 days | ||
Past Due, Total | 0 | 708 |
Originated | Real Estate Construction | Past Due, More than 90 days | ||
Past Due, Total | 0 | 0 |
Originated | Real Estate Multi family | ||
Past Due, Total | 0 | 3,575 |
Current | 41,620 | 39,804 |
Total Loans | 41,620 | 43,379 |
Originated | Real Estate Multi family | Past Due, 30 - 59 days | ||
Past Due, Total | 0 | 3,575 |
Originated | Real Estate Multi family | Past Due, 60 - 89 days | ||
Past Due, Total | 0 | 0 |
Originated | Real Estate Multi family | Past Due, More than 90 days | ||
Past Due, Total | 0 | 0 |
Originated | Real Estate 1 to 4 family | ||
Past Due, Total | 619 | 1,642 |
Current | 123,192 | 121,880 |
Total Loans | 123,811 | 123,522 |
Originated | Real Estate 1 to 4 family | Past Due, 30 - 59 days | ||
Past Due, Total | 110 | 330 |
Originated | Real Estate 1 to 4 family | Past Due, 60 - 89 days | ||
Past Due, Total | 0 | 200 |
Originated | Real Estate 1 to 4 family | Past Due, More than 90 days | ||
Past Due, Total | 509 | 1,112 |
Originated | Commercial and industrial | ||
Past Due, Total | 2,176 | 2,558 |
Current | 27,473 | 39,993 |
Total Loans | 29,649 | 42,551 |
Originated | Commercial and industrial | Past Due, 30 - 59 days | ||
Past Due, Total | 0 | 775 |
Originated | Commercial and industrial | Past Due, 60 - 89 days | ||
Past Due, Total | 170 | 73 |
Originated | Commercial and industrial | Past Due, More than 90 days | ||
Past Due, Total | 2,006 | 1,710 |
Originated | Consumer | ||
Past Due, Total | 0 | 64 |
Current | 1,696 | 1,384 |
Total Loans | 1,696 | 1,448 |
Originated | Consumer | Past Due, 30 - 59 days | ||
Past Due, Total | 0 | 0 |
Originated | Consumer | Past Due, 60 - 89 days | ||
Past Due, Total | 0 | 0 |
Originated | Consumer | Past Due, More than 90 days | ||
Past Due, Total | 0 | 64 |
Purchased Not credit impaired | ||
Past Due, Total | 2,406 | 400 |
Current | 52,204 | 58,162 |
Total Loans | 54,610 | 58,562 |
Purchased Not credit impaired | Past Due, 30 - 59 days | ||
Past Due, Total | 108 | 0 |
Purchased Not credit impaired | Past Due, 60 - 89 days | ||
Past Due, Total | 1,898 | 400 |
Purchased Not credit impaired | Past Due, More than 90 days | ||
Past Due, Total | 400 | 0 |
Purchased Not credit impaired | Commercial real estate | ||
Past Due, Total | 2,006 | 0 |
Current | 28,522 | 31,852 |
Total Loans | 30,528 | 31,852 |
Purchased Not credit impaired | Commercial real estate | Past Due, 30 - 59 days | ||
Past Due, Total | 108 | 0 |
Purchased Not credit impaired | Commercial real estate | Past Due, 60 - 89 days | ||
Past Due, Total | 1,898 | 0 |
Purchased Not credit impaired | Commercial real estate | Past Due, More than 90 days | ||
Past Due, Total | 0 | 0 |
Purchased Not credit impaired | Real Estate Construction | ||
Past Due, Total | 0 | 0 |
Current | 1,904 | 1,944 |
Total Loans | 1,904 | 1,944 |
Purchased Not credit impaired | Real Estate Construction | Past Due, 30 - 59 days | ||
Past Due, Total | 0 | 0 |
Purchased Not credit impaired | Real Estate Construction | Past Due, 60 - 89 days | ||
Past Due, Total | 0 | 0 |
Purchased Not credit impaired | Real Estate Construction | Past Due, More than 90 days | ||
Past Due, Total | 0 | 0 |
Purchased Not credit impaired | Real Estate Multi family | ||
Past Due, Total | 0 | 0 |
Current | 9,993 | 10,445 |
Total Loans | 9,993 | 10,445 |
Purchased Not credit impaired | Real Estate Multi family | Past Due, 30 - 59 days | ||
Past Due, Total | 0 | 0 |
Purchased Not credit impaired | Real Estate Multi family | Past Due, 60 - 89 days | ||
Past Due, Total | 0 | 0 |
Purchased Not credit impaired | Real Estate Multi family | Past Due, More than 90 days | ||
Past Due, Total | 0 | 0 |
Purchased Not credit impaired | Real Estate 1 to 4 family | ||
Past Due, Total | 400 | 400 |
Current | 3,689 | 4,810 |
Total Loans | 4,089 | 5,210 |
Purchased Not credit impaired | Real Estate 1 to 4 family | Past Due, 30 - 59 days | ||
Past Due, Total | 0 | 0 |
Purchased Not credit impaired | Real Estate 1 to 4 family | Past Due, 60 - 89 days | ||
Past Due, Total | 0 | 400 |
Purchased Not credit impaired | Real Estate 1 to 4 family | Past Due, More than 90 days | ||
Past Due, Total | 400 | 0 |
Purchased Not credit impaired | Commercial and industrial | ||
Past Due, Total | 0 | 0 |
Current | 8,096 | 9,111 |
Total Loans | 8,096 | 9,111 |
Purchased Not credit impaired | Commercial and industrial | Past Due, 30 - 59 days | ||
Past Due, Total | 0 | 0 |
Purchased Not credit impaired | Commercial and industrial | Past Due, 60 - 89 days | ||
Past Due, Total | 0 | 0 |
Purchased Not credit impaired | Commercial and industrial | Past Due, More than 90 days | ||
Past Due, Total | 0 | 0 |
Purchased Credit impaired | ||
Current | 1,321 | 1,323 |
Total Loans | 1,321 | 1,323 |
Purchased Credit impaired | Commercial real estate | ||
Current | 1,321 | 1,323 |
Total Loans | $ 1,321 | $ 1,323 |