Loans | Note 4. Loans The following table summarizes the components of First Guaranty's loan portfolio as of June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 (in thousands except for %) Balance As % of Category Balance As % of Category Real Estate: Construction & land development $ 71,736 8.0 % $ 56,132 6.6 % Farmland 21,455 2.4 % 17,672 2.1 % 1- 4 Family 137,522 15.3 % 129,610 15.4 % Multifamily 12,682 1.4 % 12,629 1.5 % Non-farm non-residential 352,582 39.3 % 323,363 38.3 % Total Real Estate 595,977 66.4 % 539,406 63.9 % Non-Real Estate: Agricultural 27,561 3.1 % 25,838 3.1 % Commercial and industrial 214,270 23.8 % 224,201 26.6 % Consumer and other 60,475 6.7 % 54,163 6.4 % Total Non-Real Estate 302,306 33.6 % 304,202 36.1 % Total loans before unearned income 898,283 100.0 % 843,608 100.0 % Unearned income (1,899 ) (2,025 ) Total loans net of unearned income $ 896,384 $ 841,583 The following table summarizes fixed and floating rate loans by contractual maturity, excluding nonaccrual loans, as of June 30, 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. June 30, 2016 December 31, 2015 (in thousands) Fixed Floating Total Fixed Floating Total One year or less $ 94,256 $ 56,652 $ 150,908 $ 86,975 $ 48,111 $ 135,086 More Than One to five years 315,216 227,927 543,143 315,685 246,374 562,059 More Than Five to 15 years 89,980 37,672 127,652 49,197 31,456 80,653 Over 15 years 45,427 7,685 53,112 36,438 9,333 45,771 Subtotal $ 544,879 $ 329,936 874,815 $ 488,295 $ 335,274 823,569 Nonaccrual loans 23,468 20,039 Total loans before unearned income 898,283 843,608 Unearned income (1,899 ) (2,025 ) Total loans net of unearned income $ 896,384 $ 841,583 As of June 30, 2016 $135.4 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 June 30, 2016 and December 31, 2015: As of June 30, 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 $ 303 $ 551 $ 854 $ 70,882 $ 71,736 $ - Farmland - 111 111 21,344 21,455 - 1 - 4 family 1,924 4,659 6,583 130,939 137,522 276 Multifamily 669 5,152 5,821 6,861 12,682 - Non-farm non-residential 1,194 1,832 3,026 349,556 352,582 91 Total Real Estate 4,090 12,305 16,395 579,582 595,977 367 Non-Real Estate: Agricultural - 2,630 2,630 24,931 27,561 - Commercial and industrial 145 7,878 8,023 206,247 214,270 - Consumer and other 231 1,022 1,253 59,222 60,475 - Total Non-Real Estate 376 11,530 11,906 290,400 302,306 - Total loans before unearned income $ 4,466 $ 23,835 $ 28,301 $ 869,982 $ 898,283 $ 367 Unearned income (1,899 ) Total loans net of unearned income $ 896,384 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 $23.5 million and $20.0 million of nonaccrual loans at June 30, 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 June 30, 2016 As of December 31, 2015 Real Estate: Construction & land development $ 551 $ 558 Farmland 111 117 1 - 4 family 4,383 4,538 Multifamily 5,152 9,045 Non-farm non-residential 1,741 2,934 Total Real Estate 11,938 17,192 Non-Real Estate: Agricultural 2,630 2,628 Commercial and industrial 7,878 48 Consumer and other 1,022 171 Total Non-Real Estate 11,530 2,847 Total Nonaccrual Loans $ 23,468 $ 20,039 The following table identifies the credit exposure of the loan portfolio by specific credit ratings as of the dates indicated: As of June 30, 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 $ 66,622 $ 1,090 $ 4,024 $ - $ 71,736 $ 51,681 $ 386 $ 4,065 $ - $ 56,132 Farmland 21,284 60 111 - 21,455 17,554 - 118 - 17,672 1 - 4 family 126,273 4,408 6,841 - 137,522 115,878 6,425 7,307 - 129,610 Multifamily 5,494 - 7,188 - 12,682 3,584 - 9,045 - 12,629 Non-farm non-residential 333,005 3,642 15,935 - 352,582 296,682 3,288 23,393 - 323,363 Total Real Estate 552,678 9,200 34,099 - 595,977 485,379 10,099 43,928 - 539,406 Non-Real Estate: Agricultural 24,255 676 2,630 - 27,561 20,860 4 4,974 - 25,838 Commercial and industrial 203,055 657 10,558 - 214,270 214,184 471 9,546 - 224,201 Consumer and other 59,126 215 1,134 - 60,475 53,779 178 206 - 54,163 Total Non-Real Estate 286,436 1,548 14,322 - 302,306 288,823 653 14,726 - 304,202 Total loans before unearned income $ 839,114 $ 10,748 $ 48,421 $ - $ 898,283 $ 774,202 $ 10,752 $ 58,654 $ - $ 843,608 Unearned income (1,899 ) (2,025 ) Total loans net of unearned income $ 896,384 $ 841,583 |