Loans | Note 4. Loans The following table summarizes the components of First Guaranty's loan portfolio as of March 31, 2016 and December 31, 2015: March 31, 2016 December 31, 2015 (in thousands except for %) Balance As % of Category Balance As % of Category Real Estate: Construction & land development $ 69,875 8.1 % $ 56,132 6.6 % Farmland 22,037 2.6 % 17,672 2.1 % 1- 4 Family 131,543 15.3 % 129,610 15.4 % Multifamily 10,830 1.3 % 12,629 1.5 % Non-farm non-residential 333,048 38.9 % 323,363 38.3 % Total Real Estate 567,333 66.2 % 539,406 63.9 % Non-Real Estate: Agricultural 23,266 2.7 % 25,838 3.1 % Commercial and industrial 206,178 24.1 % 224,201 26.6 % Consumer and other 59,925 7.0 % 54,163 6.4 % Total Non-Real Estate 289,369 33.8 % 304,202 36.1 % Total loans before unearned income 856,702 100.0 % 843,608 100.0 % Unearned income (1,926 ) (2,025 ) Total loans net of unearned income $ 854,776 $ 841,583 The following table summarizes fixed and floating rate loans by contractual maturity, excluding nonaccrual loans, as of March 31, 2016 and December 31, 2015 unadjusted for scheduled principal payments, prepayments, or repricing opportunities. The average life of the loan portfolio may be substantially less than the contractual terms when these adjustments are considered. March 31, 2016 December 31, 2015 (in thousands) Fixed Floating Total Fixed Floating Total One year or less $ 90,880 $ 53,609 $ 144,489 $ 86,975 $ 48,111 $ 135,086 More Than One to five years 315,947 225,303 541,250 315,685 246,374 562,059 More Than Five to 15 years 67,975 32,709 100,684 49,197 31,456 80,653 Over 15 years 38,086 7,771 45,857 36,438 9,333 45,771 Subtotal $ 512,888 $ 319,392 832,280 $ 488,295 $ 335,274 823,569 Nonaccrual loans 24,422 20,039 Total loans before unearned income 856,702 843,608 Unearned income (1,926 ) (2,025 ) Total loans net of unearned income $ 854,776 $ 841,583 As of March 31, 2016 $127.0 million of floating rate loans were at their interest rate floor. At December 31, 2015 $132.9 million of floating rate loans were at the floor rate. Nonaccrual The following tables present the age analysis of past due loans at March 31, 2016 and December 31, 2015: As of March 31, 2016 (in thousands) 30-89 Days Past Due 90 Days or Greater Total Past Due Current Total Loans Recorded Investment 90 Days Accruing Real Estate: Construction & land development $ 461 $ 555 $ 1,016 $ 68,859 $ 69,875 $ - Farmland - 118 118 21,919 22,037 - 1 - 4 family 3,204 4,965 8,169 123,374 131,543 216 Multifamily - 5,262 5,262 5,568 10,830 - Non-farm non-residential 1,184 2,064 3,248 329,800 333,048 129 Total Real Estate 4,849 12,964 17,813 549,520 567,333 345 Non-Real Estate: Agricultural - 3,537 3,537 19,729 23,266 - Commercial and industrial 336 8,266 8,602 197,576 206,178 - Consumer and other 310 - 310 59,615 59,925 - Total Non-Real Estate 646 11,803 12,449 276,920 289,369 - Total loans before unearned income $ 5,495 $ 24,767 $ 30,262 $ 826,440 $ 856,702 $ 345 Unearned income (1,926 ) Total loans net of unearned income $ 854,776 As of December 31, 2015 (in thousands) 30-89 Days Past Due 90 Days or Greater Total Past Due Current Total Loans Recorded Investment 90 Days Accruing Real Estate: Construction & land development $ 12 $ 558 $ 570 $ 55,562 $ 56,132 $ - Farmland - 136 136 17,536 17,672 19 1 - 4 family 2,546 4,929 7,475 122,135 129,610 391 Multifamily - 9,045 9,045 3,584 12,629 - Non-farm non-residential 1,994 2,934 4,928 318,435 323,363 - Total Real Estate 4,552 17,602 22,154 517,252 539,406 410 Non-Real Estate: Agricultural 2,346 2,628 4,974 20,864 25,838 - Commercial and industrial 314 48 362 223,839 224,201 - Consumer and other 965 171 1,136 53,027 54,163 - Total Non-Real Estate 3,625 2,847 6,472 297,730 304,202 - Total loans before unearned income $ 8,177 $ 20,449 $ 28,626 $ 814,982 $ 843,608 $ 410 Unearned income (2,025 ) Total loans net of unearned income $ 841,583 The tables above include $24.4 million and $20.0 million of nonaccrual loans at March 31, 2016 and December 31, 2015, respectively. See the tables below for more detail on nonaccrual loans. The following is a summary of nonaccrual loans by class at the dates indicated: (in thousands) As of March 31, 2016 As of December 31, 2015 Real Estate: Construction & land development $ 555 $ 558 Farmland 118 117 1 - 4 family 4,749 4,538 Multifamily 5,262 9,045 Non-farm non-residential 1,935 2,934 Total Real Estate 12,619 17,192 Non-Real Estate: Agricultural 3,537 2,628 Commercial and industrial 8,266 48 Consumer and other - 171 Total Non-Real Estate 11,803 2,847 Total Nonaccrual Loans $ 24,422 $ 20,039 As of March 31, 2016 As of December 31, 2015 (in thousands) Pass Special Mention Substandard Doubtful Total Pass Special Mention Substandard Doubtful Total Real Estate: Construction & land development $ 65,603 $ 181 $ 4,091 $ - $ 69,875 $ 51,681 $ 386 $ 4,065 $ - $ 56,132 Farmland 21,919 - 118 - 22,037 17,554 - 118 - 17,672 1 - 4 family 118,091 6,448 7,004 - 131,543 115,878 6,425 7,307 - 129,610 Multifamily 3,532 - 7,298 - 10,830 3,584 - 9,045 - 12,629 Non-farm non-residential 307,390 3,571 22,087 - 333,048 296,682 3,288 23,393 - 323,363 Total Real Estate 516,535 10,200 40,598 - 567,333 485,379 10,099 43,928 - 539,406 Non-Real Estate: Agricultural 19,726 3 3,537 - 23,266 20,860 4 4,974 - 25,838 Commercial and industrial 195,819 566 9,793 - 206,178 214,184 471 9,546 - 224,201 Consumer and other 59,650 153 122 - 59,925 53,779 178 206 - 54,163 Total Non-Real Estate 275,195 722 13,452 - 289,369 288,823 653 14,726 - 304,202 Total loans before unearned income $ 791,730 $ 10,922 $ 54,050 $ - $ 856,702 $ 774,202 $ 10,752 $ 58,654 $ - $ 843,608 Unearned income (1,926 ) (2,025 ) Total loans net of unearned income $ 854,776 $ 841,583 |