Note 4 - Loans and Related Allowance for Loan Loss | 3 Months Ended |
Mar. 31, 2015 |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4. Loans and Related Allowance for Loan Loss |
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The Company’s loan portfolio is made up of four segments: real estate loans, commercial and industrial loans, consumer loans and other loans. These segments are further segregated between loans accounted for under the amortized cost method (“Originated Loans”) and acquired loans that were originally recorded at fair value with no carryover of the related pre-merger allowance for loan losses (“Loans Acquired at Fair Value”). The following table presents the major classifications of loans as of the dates indicated. |
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| | (Dollars in thousands) | | | | | | | | | | | | | |
| | 31-Mar-15 | | | 31-Dec-14 | | | | | | | | | | | | | |
| | Amount | | | Percent | | | Amount | | | Percent | | | | | | | | | | | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 170,461 | | | | 40.2 | % | | $ | 169,485 | | | | 41.3 | % | | | | | | | | | | | | |
Commercial | | | 100,940 | | | | 23.8 | | | | 97,228 | | | | 23.8 | | | | | | | | | | | | | |
Construction | | | 11,241 | | | | 2.7 | | | | 10,039 | | | | 2.5 | | | | | | | | | | | | | |
Commercial and Industrial | | | 50,412 | | | | 11.9 | | | | 48,701 | | | | 11.9 | | | | | | | | | | | | | |
Consumer | | | 82,790 | | | | 19.6 | | | | 76,242 | | | | 18.6 | | | | | | | | | | | | | |
Other | | | 7,470 | | | | 1.8 | | | | 7,636 | | | | 1.9 | | | | | | | | | | | | | |
Total Originated Loans | | | 423,314 | | | | 100 | % | | | 409,331 | | | | 100 | % | | | | | | | | | | | | |
Allowance for Loan Losses | | | (5,478 | ) | | | | | | | (5,195 | ) | | | | | | | | | | | | | | | | |
Loans, Net | | $ | 417,836 | | | | | | | $ | 404,136 | | | | | | | | | | | | | | | | | |
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Loans Acquired at Fair Value | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 138,106 | | | | 57.1 | % | | $ | 162,388 | | | | 58.7 | % | | | | | | | | | | | | |
Commercial | | | 70,622 | | | | 29.2 | | | | 77,037 | | | | 27.9 | | | | | | | | | | | | | |
Construction | | | 10,544 | | | | 4.4 | | | | 12,158 | | | | 4.4 | | | | | | | | | | | | | |
Commercial and Industrial | | | 21,777 | | | | 9 | | | | 23,363 | | | | 8.5 | | | | | | | | | | | | | |
Consumer | | | 672 | | | | 0.3 | | | | 1,369 | | | | 0.5 | | | | | | | | | | | | | |
Total Loans Acquired at Fair Value | | | 241,721 | | | | 100 | % | | | 276,315 | | | | 100 | % | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 308,567 | | | | 46.3 | % | | $ | 331,873 | | | | 48.5 | % | | | | | | | | | | | | |
Commercial | | | 171,562 | | | | 25.8 | | | | 174,265 | | | | 25.4 | | | | | | | | | | | | | |
Construction | | | 21,785 | | | | 3.3 | | | | 22,197 | | | | 3.2 | | | | | | | | | | | | | |
Commercial and Industrial | | | 72,189 | | | | 10.9 | | | | 72,064 | | | | 10.5 | | | | | | | | | | | | | |
Consumer | | | 83,462 | | | | 12.6 | | | | 77,611 | | | | 11.3 | | | | | | | | | | | | | |
Other | | | 7,470 | | | | 1.1 | | | | 7,636 | | | | 1.1 | | | | | | | | | | | | | |
Total Loans | | | 665,035 | | | | 100 | % | | | 685,646 | | | | 100 | % | | | | | | | | | | | | |
Allowance for Loan Losses | | | (5,478 | ) | | | | | | | (5,195 | ) | | | | | | | | | | | | | | | | |
Loans, Net | | $ | 659,557 | | | | | | | $ | 680,451 | | | | | | | | | | | | | | | | | |
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Real estate loans serviced for others, which are not included in the Consolidated Statement of Financial Condition, totaled $63.0 million and $62.3 million at March 31, 2015 and December 31, 2014, respectively. |
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The following table presents loans summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system as of the dates indicated. |
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| | (Dollars in thousands) | | | | | | | | | |
| | 31-Mar-15 | | | | | | | | | |
| | Pass | | | Special | | | Substandard | | | Doubtful | | | Total | | | | | | | | | |
Mention | | | | | | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 169,555 | | | $ | 620 | | | $ | 279 | | | $ | 7 | | | $ | 170,461 | | | | | | | | | |
Commercial | | | 83,257 | | | | 12,618 | | | | 4,408 | | | | 657 | | | | 100,940 | | | | | | | | | |
Construction | | | 10,134 | | | | - | | | | 775 | | | | 332 | | | | 11,241 | | | | | | | | | |
Commercial and Industrial | | | 46,536 | | | | 2,528 | | | | 1,050 | | | | 298 | | | | 50,412 | | | | | | | | | |
Consumer | | | 82,766 | | | | - | | | | 24 | | | | - | | | | 82,790 | | | | | | | | | |
Other | | | 7,470 | | | | - | | | | - | | | | - | | | | 7,470 | | | | | | | | | |
Total Originated Loans | | $ | 399,718 | | | $ | 15,766 | | | $ | 6,536 | | | $ | 1,294 | | | $ | 423,314 | | | | | | | | | |
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Loans Acquired at Fair Value | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 135,771 | | | $ | - | | | $ | 2,335 | | | $ | - | | | $ | 138,106 | | | | | | | | | |
Commercial | | | 66,180 | | | | 2,399 | | | | 2,043 | | | | - | | | | 70,622 | | | | | | | | | |
Construction | | | 10,544 | | | | - | | | | - | | | | - | | | | 10,544 | | | | | | | | | |
Commercial and Industrial | | | 20,494 | | | | 1,283 | | | | - | | | | - | | | | 21,777 | | | | | | | | | |
Consumer | | | 672 | | | | - | | | | - | | | | - | | | | 672 | | | | | | | | | |
Total Loans Acquired at Fair Value | | $ | 233,661 | | | $ | 3,682 | | | $ | 4,378 | | | $ | - | | | $ | 241,721 | | | | | | | | | |
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Total Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 305,326 | | | $ | 620 | | | $ | 2,614 | | | $ | 7 | | | $ | 308,567 | | | | | | | | | |
Commercial | | | 149,437 | | | | 15,017 | | | | 6,451 | | | | 657 | | | | 171,562 | | | | | | | | | |
Construction | | | 20,678 | | | | - | | | | 775 | | | | 332 | | | | 21,785 | | | | | | | | | |
Commercial and Industrial | | | 67,030 | | | | 3,811 | | | | 1,050 | | | | 298 | | | | 72,189 | | | | | | | | | |
Consumer | | | 83,438 | | | | - | | | | 24 | | | | - | | | | 83,462 | | | | | | | | | |
Other | | | 7,470 | | | | - | | | | - | | | | - | | | | 7,470 | | | | | | | | | |
Total Loans | | $ | 633,379 | | | $ | 19,448 | | | $ | 10,914 | | | $ | 1,294 | | | $ | 665,035 | | | | | | | | | |
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| | 31-Dec-14 | | | | | | | | | |
| | Pass | | | Special | | | Substandard | | | Doubtful | | | Total | | | | | | | | | |
Mention | | | | | | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 168,957 | | | $ | 194 | | | $ | 315 | | | $ | 19 | | | $ | 169,485 | | | | | | | | | |
Commercial | | | 81,772 | | | | 10,944 | | | | 3,820 | | | | 692 | | | | 97,228 | | | | | | | | | |
Construction | | | 8,805 | | | | 101 | | | | 789 | | | | 344 | | | | 10,039 | | | | | | | | | |
Commercial and Industrial | | | 45,258 | | | | 2,758 | | | | 383 | | | | 302 | | | | 48,701 | | | | | | | | | |
Consumer | | | 76,238 | | | | - | | | | 4 | | | | - | | | | 76,242 | | | | | | | | | |
Other | | | 7,636 | | | | - | | | | - | | | | - | | | | 7,636 | | | | | | | | | |
Total Originated Loans | | $ | 388,666 | | | $ | 13,997 | | | $ | 5,311 | | | $ | 1,357 | | | $ | 409,331 | | | | | | | | | |
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Loans Acquired at Fair Value | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 160,460 | | | $ | - | | | $ | 1,928 | | | $ | - | | | $ | 162,388 | | | | | | | | | |
Commercial | | | 72,453 | | | | 2,429 | | | | 2,155 | | | | - | | | | 77,037 | | | | | | | | | |
Construction | | | 12,158 | | | | - | | | | - | | | | - | | | | 12,158 | | | | | | | | | |
Commercial and Industrial | | | 21,913 | | | | 1,450 | | | | - | | | | - | | | | 23,363 | | | | | | | | | |
Consumer | | | 1,369 | | | | - | | | | - | | | | - | | | | 1,369 | | | | | | | | | |
Total Loans Acquired at Fair Value | | $ | 268,353 | | | $ | 3,879 | | | $ | 4,083 | | | $ | - | | | $ | 276,315 | | | | | | | | | |
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Total Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 329,417 | | | $ | 194 | | | $ | 2,243 | | | $ | 19 | | | $ | 331,873 | | | | | | | | | |
Commercial | | | 154,225 | | | | 13,373 | | | | 5,975 | | | | 692 | | | | 174,265 | | | | | | | | | |
Construction | | | 20,963 | | | | 101 | | | | 789 | | | | 344 | | | | 22,197 | | | | | | | | | |
Commercial and Industrial | | | 67,171 | | | | 4,208 | | | | 383 | | | | 302 | | | | 72,064 | | | | | | | | | |
Consumer | | | 77,607 | | | | - | | | | 4 | | | | - | | | | 77,611 | | | | | | | | | |
Other | | | 7,636 | | | | - | | | | - | | | | - | | | | 7,636 | | | | | | | | | |
Total Loans | | $ | 657,019 | | | $ | 17,876 | | | $ | 9,394 | | | $ | 1,357 | | | $ | 685,646 | | | | | | | | | |
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The following table presents the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of the dates indicated. |
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| | (Dollars in thousands) | |
| | 31-Mar-15 | |
| | Loans | | | 30-59 | | | 60-89 | | | Past Due | | | Total | | | Non- | | | Total | |
Current | Days | Days | Past Due | Accrual | Loans |
| Past Due | Past Due | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 169,874 | | | $ | 308 | | | $ | - | | | $ | - | | | $ | 308 | | | $ | 279 | | | $ | 170,461 | |
Commercial | | | 98,211 | | | | 2,222 | | | | - | | | | - | | | | 2,222 | | | | 507 | | | | 100,940 | |
Construction | | | 10,909 | | | | - | | | | - | | | | - | | | | - | | | | 332 | | | | 11,241 | |
Commercial and Industrial | | | 50,257 | | | | 155 | | | | - | | | | - | | | | 155 | | | | - | | | | 50,412 | |
Consumer | | | 82,361 | | | | 344 | | | | 56 | | | | 5 | | | | 405 | | | | 24 | | | | 82,790 | |
Other | | | 7,470 | | | | - | | | | - | | | | - | | | | - | | | | - | | | | 7,470 | |
Total Originated Loans | | $ | 419,082 | | | $ | 3,029 | | | $ | 56 | | | $ | 5 | | | $ | 3,090 | | | $ | 1,142 | | | $ | 423,314 | |
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Loans Acquired at Fair Value | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 135,031 | | | $ | 1,682 | | | $ | - | | | $ | - | | | $ | 1,682 | | | $ | 1,393 | | | $ | 138,106 | |
Commercial | | | 70,044 | | | | 124 | | | | - | | | | - | | | | 124 | | | | 454 | | | | 70,622 | |
Construction | | | 10,544 | | | | - | | | | - | | | | - | | | | - | | | | - | | | | 10,544 | |
Commercial and Industrial | | | 21,755 | | | | 22 | | | | - | | | | - | | | | 22 | | | | - | | | | 21,777 | |
Consumer | | | 600 | | | | 72 | | | | - | | | | - | | | | 72 | | | | - | | | | 672 | |
Total Loans Acquired at Fair Value | | $ | 237,974 | | | $ | 1,900 | | | $ | - | | | $ | - | | | $ | 1,900 | | | $ | 1,847 | | | $ | 241,721 | |
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Total Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 304,905 | | | $ | 1,990 | | | $ | - | | | $ | - | | | $ | 1,990 | | | $ | 1,672 | | | $ | 308,567 | |
Commercial | | | 168,255 | | | | 2,346 | | | | - | | | | - | | | | 2,346 | | | | 961 | | | | 171,562 | |
Construction | | | 21,453 | | | | - | | | | - | | | | - | | | | - | | | | 332 | | | | 21,785 | |
Commercial and Industrial | | | 72,012 | | | | 177 | | | | - | | | | - | | | | 177 | | | | - | | | | 72,189 | |
Consumer | | | 82,961 | | | | 416 | | | | 56 | | | | 5 | | | | 477 | | | | 24 | | | | 83,462 | |
Other | | | 7,470 | | | | - | | | | - | | | | - | | | | - | | | | - | | | | 7,470 | |
Total Loans | | $ | 657,056 | | | $ | 4,929 | | | $ | 56 | | | $ | 5 | | | $ | 4,990 | | | $ | 2,989 | | | $ | 665,035 | |
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| | 31-Dec-14 | |
| | Loans | | | 30-59 | | | 60-89 | | | 90 Days | | | Total | | | Non- | | | Total | |
Current | Days | Days | Or More | Past Due | Accrual | Loans |
| Past Due | Past Due | Past Due | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 168,911 | | | $ | 249 | | | $ | 16 | | | $ | - | | | $ | 265 | | | $ | 309 | | | $ | 169,485 | |
Commercial | | | 94,250 | | | | 2,397 | | | | - | | | | - | | | | 2,397 | | | | 581 | | | | 97,228 | |
Construction | | | 9,695 | | | | - | | | | - | | | | - | | | | - | | | | 344 | | | | 10,039 | |
Commercial and Industrial | | | 48,697 | | | | - | | | | - | | | | - | | | | - | | | | 4 | | | | 48,701 | |
Consumer | | | 75,839 | | | | 369 | | | | 24 | | | | 10 | | | | 403 | | | | - | | | | 76,242 | |
Other | | | 7,636 | | | | - | | | | - | | | | - | | | | - | | | | - | | | | 7,636 | |
Total Originated Loans | | $ | 405,028 | | | $ | 3,015 | | | $ | 40 | | | $ | 10 | | | $ | 3,065 | | | $ | 1,238 | | | $ | 409,331 | |
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Loans Acquired at Fair Value | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 159,403 | | | $ | 1,364 | | | $ | 18 | | | $ | 369 | | | $ | 1,751 | | | $ | 1,234 | | | $ | 162,388 | |
Commercial | | | 76,425 | | | | 128 | | | | - | | | | - | | | | 128 | | | | 484 | | | | 77,037 | |
Construction | | | 12,158 | | | | - | | | | - | | | | - | | | | - | | | | - | | | | 12,158 | |
Commercial and Industrial | | | 23,356 | | | | 7 | | | | - | | | | - | | | | 7 | | | | - | | | | 23,363 | |
Consumer | | | 1,341 | | | | 28 | | | | - | | | | - | | | | 28 | | | | - | | | | 1,369 | |
Total Loans Acquired at Fair Value | | $ | 272,683 | | | $ | 1,527 | | | $ | 18 | | | $ | 369 | | | $ | 1,914 | | | $ | 1,718 | | | $ | 276,315 | |
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Total Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 328,314 | | | $ | 1,613 | | | $ | 34 | | | $ | 369 | | | $ | 2,016 | | | $ | 1,543 | | | $ | 331,873 | |
Commercial | | | 170,675 | | | | 2,525 | | | | - | | | | - | | | | 2,525 | | | | 1,065 | | | | 174,265 | |
Construction | | | 21,853 | | | | - | | | | - | | | | - | | | | - | | | | 344 | | | | 22,197 | |
Commercial and Industrial | | | 72,053 | | | | 7 | | | | - | | | | - | | | | 7 | | | | 4 | | | | 72,064 | |
Consumer | | | 77,180 | | | | 397 | | | | 24 | | | | 10 | | | | 431 | | | | - | | | | 77,611 | |
Other | | | 7,636 | | | | - | | | | - | | | | - | | | | - | | | | - | | | | 7,636 | |
Total Loans | | $ | 677,711 | | | $ | 4,542 | | | $ | 58 | | | $ | 379 | | | $ | 4,979 | | | $ | 2,956 | | | $ | 685,646 | |
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The following table sets forth the amounts and categories of our nonperforming assets at the dates indicated. Included in nonperforming loans and assets are troubled debt restructurings (“TDRs”), which are loans whose contractual terms have been restructured in a manner which grants a concession to a borrower experiencing financial difficulties. Nonaccrual TDRs are included in their specific loan category in the nonaccrual loans section. |
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| | (Dollars in Thousands) | | | | | | | | | | | | | | | | | | | | | |
| | March 31, | | | December 31, | | | | | | | | | | | | | | | | | | | | | |
2015 | 2014 | | | | | | | | | | | | | | | | | | | | |
Nonaccrual loans: | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 1,672 | | | $ | 1,543 | | | | | | | | | | | | | | | | | | | | | |
Commercial | | | 961 | | | | 1,065 | | | | | | | | | | | | | | | | | | | | | |
Construction | | | 332 | | | | 344 | | | | | | | | | | | | | | | | | | | | | |
Commercial and Industrial | | | - | | | | 4 | | | | | | | | | | | | | | | | | | | | | |
Consumer | | | 24 | | | | - | | | | | | | | | | | | | | | | | | | | | |
Total non-accrual loans | | | 2,989 | | | | 2,956 | | | | | | | | | | | | | | | | | | | | | |
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Accruing loans past due 90 days or more: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | | - | | | | 369 | | | | | | | | | | | | | | | | | | | | | |
Consumer | | | 5 | | | | 10 | | | | | | | | | | | | | | | | | | | | | |
Total accruing loans 90 days or more past due | | | 5 | | | | 379 | | | | | | | | | | | | | | | | | | | | | |
Total nonaccrual loans and accruing loans 90 days or more past due | | | 2,994 | | | | 3,335 | | | | | | | | | | | | | | | | | | | | | |
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Troubled debt restructurings, accruing | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Originated loans: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate - Commercial | | | 429 | | | | 246 | | | | | | | | | | | | | | | | | | | | | |
Commercial and Industrial | | | 306 | | | | 310 | | | | | | | | | | | | | | | | | | | | | |
Total originated loans | | | 735 | | | | 556 | | | | | | | | | | | | | | | | | | | | | |
Loans acquired at fair value: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate - Residential | | | 1,325 | | | | 1,337 | | | | | | | | | | | | | | | | | | | | | |
Real Estate - Commercial | | | 1,758 | | | | 1,800 | | | | | | | | | | | | | | | | | | | | | |
Total loans acquired at fair value | | | 3,083 | | | | 3,137 | | | | | | | | | | | | | | | | | | | | | |
Total troubled debt restructurings, accruing | | | 3,818 | | | | 3,693 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total nonperforming loans | | | 6,812 | | | | 7,028 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real estate owned: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | | 403 | | | | 104 | | | | | | | | | | | | | | | | | | | | | |
Other | | | 174 | | | | 174 | | | | | | | | | | | | | | | | | | | | | |
Total real estate owned | | | 577 | | | | 278 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total nonperforming assets | | $ | 7,389 | | | $ | 7,306 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Nonperforming loans to total loans | | | 1.02 | % | | | 1.03 | % | | | | | | | | | | | | | | | | | | | | |
Nonperforming assets to total assets | | | 0.87 | | | | 0.86 | | | | | | | | | | | | | | | | | | | | | |
|
The recorded investment of residential real estate loans for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction was $3.5 million and $2.7 million at March 31, 2015 and December 31, 2014, respectively. |
|
Loans classified as TDRs consisted of 12 loans totaling $4.1 million and 13 loans totaling $4.0 million at March 31, 2015 and December 31, 2014, respectively. Originated loans classified as TDRs consisted of 4 loans totaling $1.0 million and $830,000, respectively at March 31, 2015 and December 31, 2014. Loans acquired at fair value as TDRs consisted of 8 loans and 9 loans, respectively, totaling $3.1 million at March 31, 2015 and December 31, 2014. During the three months ended March 31, 2015, one commercial TDR acquired at fair value paid off and one commercial loan previously identified as an originated TDR was refinanced in a new TDR transaction. No TDRs have subsequently defaulted during the three months ended March 31, 2015 and 2014, respectively. The following table presents the volume and recorded investment at the time of modification of the TDRs by class and type of modification that occurred during the periods indicated. |
|
| | (Dollars in thousands) | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended | | | | | | | | | | | | | | | | | | | | | |
31-Mar-15 | | | | | | | | | | | | | | | | | | | | |
| | Modification of Payment | | | | | | | | | | | | | | | | | | | | | |
and Other Terms | | | | | | | | | | | | | | | | | | | | |
| | Number of | | | Recorded | | | | | | | | | | | | | | | | | | | | | |
Contracts | Investment | | | | | | | | | | | | | | | | | | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial | | | 1 | | | $ | 430 | | | | | | | | | | | | | | | | | | | | | |
Total | | | 1 | | | $ | 430 | | | | | | | | | | | | | | | | | | | | | |
|
| | Three Months Ended March 31, 2014 | | | | | | | | | | | | | |
| | Temporary Rate | | | Extension of Maturity | | | | | | | | | | | | | |
Modification | | | | | | | | | | | | |
| | Number of | | | Recorded | | | Number of | | | Recorded | | | | | | | | | | | | | |
Contracts | Investment | Contracts | Investment | | | | | | | | | | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial | | | 1 | | | $ | 282 | | | | 1 | | | $ | 254 | | | | | | | | | | | | | |
Total | | | 1 | | | $ | 282 | | | | 1 | | | $ | 254 | | | | | | | | | | | | | |
|
The following table presents a summary of the loans considered to be impaired as of the dates indicated. |
|
| | (Dollars in thousands) | | | | | | | | | |
| | 31-Mar-15 | | | | | | | | | |
| | Recorded | | | Related | | | Unpaid | | | Average | | | Interest | | | | | | | | | |
Investment | Allowance | Principal | Recorded | Income | | | | | | | | |
| | Balance | Investment | Recognized | | | | | | | | |
With No Related Allowance Recorded: | | | | | | | | | | | | | | | | | | | | | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 13 | | | $ | - | | | $ | 25 | | | $ | 31 | | | $ | 1 | | | | | | | | | |
Commercial | | | 4,046 | | | | - | | | | 4,046 | | | | 4,086 | | | | 42 | | | | | | | | | |
Construction | | | 774 | | | | - | | | | 774 | | | | 782 | | | | 8 | | | | | | | | | |
Commercial and Industrial | | | 602 | | | | - | | | | 602 | | | | 578 | | | | 6 | | | | | | | | | |
Total With No Related Allowance Recorded | | $ | 5,435 | | | $ | - | | | $ | 5,447 | | | $ | 5,477 | | | $ | 57 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Loans Acquired at Fair Value | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 942 | | | $ | - | | | $ | 942 | | | $ | 944 | | | $ | 12 | | | | | | | | | |
Commercial | | | 1,685 | | | | - | | | | 1,724 | | | | 1,729 | | | | 20 | | | | | | | | | |
Total With No Related Allowance Recorded | | $ | 2,627 | | | $ | - | | | $ | 2,666 | | | $ | 2,673 | | | $ | 32 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 955 | | | $ | - | | | $ | 967 | | | $ | 975 | | | $ | 13 | | | | | | | | | |
Commercial | | | 5,731 | | | | - | | | | 5,770 | | | | 5,815 | | | | 62 | | | | | | | | | |
Construction | | | 774 | | | | - | | | | 774 | | | | 782 | | | | 8 | | | | | | | | | |
Commercial and Industrial | | | 602 | | | | - | | | | 602 | | | | 578 | | | | 6 | | | | | | | | | |
Total With No Related Allowance Recorded | | $ | 8,062 | | | $ | - | | | $ | 8,113 | | | $ | 8,150 | | | $ | 89 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
With A Related Allowance Recorded: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial | | $ | 1,377 | | | $ | 456 | | | $ | 1,387 | | | $ | 1,391 | | | $ | 12 | | | | | | | | | |
Construction | | | 332 | | | | 28 | | | | 332 | | | | 339 | | | | - | | | | | | | | | |
Commercial and Industrial | | | 747 | | | | 481 | | | | 747 | | | | 749 | | | | 10 | | | | | | | | | |
Total With A Related Allowance Recorded | | $ | 2,456 | | | $ | 965 | | | $ | 2,466 | | | $ | 2,479 | | | $ | 22 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Impaired Loans: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 13 | | | $ | - | | | $ | 25 | | | $ | 31 | | | $ | 1 | | | | | | | | | |
Commercial | | | 5,423 | | | | 456 | | | | 5,433 | | | | 5,477 | | | | 54 | | | | | | | | | |
Construction | | | 1,106 | | | | 28 | | | | 1,106 | | | | 1,121 | | | | 8 | | | | | | | | | |
Commercial and Industrial | | | 1,349 | | | | 481 | | | | 1,349 | | | | 1,327 | | | | 16 | | | | | | | | | |
Total Impaired Loans | | $ | 7,891 | | | $ | 965 | | | $ | 7,913 | | | $ | 7,956 | | | $ | 79 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Loans Acquired at Fair Value | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 942 | | | $ | - | | | $ | 942 | | | $ | 944 | | | $ | 12 | | | | | | | | | |
Commercial | | | 1,685 | | | | - | | | | 1,724 | | | | 1,729 | | | | 20 | | | | | | | | | |
Total Impaired Loans | | $ | 2,627 | | | $ | - | | | $ | 2,666 | | | $ | 2,673 | | | $ | 32 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 955 | | | $ | - | | | $ | 967 | | | $ | 975 | | | $ | 13 | | | | | | | | | |
Commercial | | | 7,108 | | | | 456 | | | | 7,157 | | | | 7,206 | | | | 74 | | | | | | | | | |
Construction | | | 1,106 | | | | 28 | | | | 1,106 | | | | 1,121 | | | | 8 | | | | | | | | | |
Commercial and Industrial | | | 1,349 | | | | 481 | | | | 1,349 | | | | 1,327 | | | | 16 | | | | | | | | | |
Total Impaired Loans | | $ | 10,518 | | | $ | 965 | | | $ | 10,579 | | | $ | 10,629 | | | $ | 111 | | | | | | | | | |
|
| | 31-Dec-14 | | | | | | | | | |
| | Recorded | | | Related | | | Unpaid | | | Average | | | Interest | | | | | | | | | |
Investment | Allowance | Principal | Recorded | Income | | | | | | | | |
| | Balance | Investment | Recognized | | | | | | | | |
With No Related Allowance Recorded: | | | | | | | | | | | | | | | | | | | | | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 45 | | | $ | - | | | $ | 70 | | | $ | 55 | | | $ | - | | | | | | | | | |
Commercial | | | 3,352 | | | | - | | | | 3,366 | | | | 4,300 | | | | 149 | | | | | | | | | |
Commercial and Industrial | | | 369 | | | | - | | | | 369 | | | | 426 | | | | 17 | | | | | | | | | |
Total With No Related Allowance Recorded | | $ | 3,766 | | | $ | - | | | $ | 3,805 | | | $ | 4,781 | | | $ | 166 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Loans Acquired at Fair Value | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 947 | | | $ | - | | | $ | 947 | | | $ | 957 | | | $ | 51 | | | | | | | | | |
Commercial | | | 1,846 | | | | - | | | | 1,885 | | | | 1,926 | | | | 93 | | | | | | | | | |
Total With No Related Allowance Recorded | | $ | 2,793 | | | $ | - | | | $ | 2,832 | | | $ | 2,883 | | | $ | 144 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 992 | | | $ | - | | | $ | 1,017 | | | $ | 1,012 | | | $ | 51 | | | | | | | | | |
Commercial | | | 5,198 | | | | - | | | | 5,251 | | | | 6,226 | | | | 242 | | | | | | | | | |
Commercial and Industrial | | | 369 | | | | - | | | | 369 | | | | 426 | | | | 17 | | | | | | | | | |
Total With No Related Allowance Recorded | | $ | 6,559 | | | $ | - | | | $ | 6,637 | | | $ | 7,664 | | | $ | 310 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
With A Related Allowance Recorded: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial | | $ | 1,382 | | | $ | 519 | | | $ | 1,389 | | | $ | 1,427 | | | $ | 51 | | | | | | | | | |
Construction | | | 1,133 | | | | 100 | | | | 1,133 | | | | 1,366 | | | | 41 | | | | | | | | | |
Commercial and Industrial | | | 317 | | | | 254 | | | | 317 | | | | 319 | | | | 17 | | | | | | | | | |
Total With A Related Allowance Recorded | | $ | 2,832 | | | $ | 873 | | | $ | 2,839 | | | $ | 3,112 | | | $ | 109 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Originated Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 45 | | | $ | - | | | $ | 70 | | | $ | 55 | | | $ | - | | | | | | | | | |
Commercial | | | 4,734 | | | | 519 | | | | 4,755 | | | | 5,727 | | | | 200 | | | | | | | | | |
Construction | | | 1,133 | | | | 100 | | | | 1,133 | | | | 1,366 | | | | 41 | | | | | | | | | |
Commercial and Industrial | | | 686 | | | | 254 | | | | 686 | | | | 745 | | | | 34 | | | | | | | | | |
Total Impaired Loans | | $ | 6,598 | | | $ | 873 | | | $ | 6,644 | | | $ | 7,893 | | | $ | 275 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Loans Acquired at Fair Value | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 947 | | | $ | - | | | $ | 947 | | | $ | 957 | | | $ | 51 | | | | | | | | | |
Commercial | | | 1,846 | | | | - | | | | 1,885 | | | | 1,926 | | | | 93 | | | | | | | | | |
Total Impaired Loans | | $ | 2,793 | | | $ | - | | | $ | 2,832 | | | $ | 2,883 | | | $ | 144 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Real Estate: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential | | $ | 992 | | | $ | - | | | $ | 1,017 | | | $ | 1,012 | | | $ | 51 | | | | | | | | | |
Commercial | | | 6,580 | | | | 519 | | | | 6,640 | | | | 7,653 | | | | 293 | | | | | | | | | |
Construction | | | 1,133 | | | | 100 | | | | 1,133 | | | | 1,366 | | | | 41 | | | | | | | | | |
Commercial and Industrial | | | 686 | | | | 254 | | | | 686 | | | | 745 | | | | 34 | | | | | | | | | |
Total Impaired Loans | | $ | 9,391 | | | $ | 873 | | | $ | 9,476 | | | $ | 10,776 | | | $ | 419 | | | | | | | | | |
|
The following table presents the activity in the Allowance for Loan Loss summarized by major classifications and segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for potential impairment for the dates indicated. |
|
| | (Dollars in thousands) | |
| | Real | | | Real | | | Real | | | Commercial | | | Consumer | | | Unallocated | | | Total | |
Estate | Estate | Estate | and |
Residential | Commercial | Construction | Industrial |
Originated Loans | | | | | | | | | | | | | | | | | | | | | |
31-Dec-14 | | $ | 2,690 | | | $ | 582 | | | $ | 122 | | | $ | 684 | | | $ | 1,015 | | | $ | 102 | | | $ | 5,195 | |
Charge-offs | | | - | | | | (6 | ) | | | - | | | | - | | | | (47 | ) | | | - | | | | (53 | ) |
Recoveries | | | 3 | | | | 2 | | | | - | | | | - | | | | 31 | | | | - | | | | 36 | |
Provision | | | (180 | ) | | | 30 | | | | 23 | | | | 229 | | | | 12 | | | | 186 | | | | 300 | |
31-Mar-15 | | $ | 2,513 | | | $ | 608 | | | $ | 145 | | | $ | 913 | | | $ | 1,011 | | | $ | 288 | | | $ | 5,478 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Individually Evaluated for Impairment | | $ | - | | | $ | 456 | | | $ | 28 | | | $ | 481 | | | $ | - | | | $ | - | | | $ | 965 | |
Collectively Evaluated for Potential Impairment | | $ | 2,513 | | | $ | 152 | | | $ | 117 | | | $ | 432 | | | $ | 1,011 | | | $ | 288 | | | $ | 4,513 | |
|
| | Real | | | Real | | | Real | | | Commercial | | | Consumer | | | Unallocated | | | Total | |
Estate | Estate | Estate | and |
Residential | Commercial | Construction | Industrial |
Originated Loans | | | | | | | | | | | | | | | | | | | | | |
31-Dec-13 | | $ | 1,481 | | | $ | 1,703 | | | $ | 355 | | | $ | 1,013 | | | $ | 592 | | | $ | 238 | | | $ | 5,382 | |
Charge-offs | | | - | | | | - | | | | - | | | | - | | | | (36 | ) | | | - | | | | (36 | ) |
Recoveries | | | 1 | | | | - | | | | - | | | | 1 | | | | 24 | | | | - | | | | 26 | |
Provision | | | (1 | ) | | | - | | | | - | | | | - | | | | - | | | | 1 | | | | - | |
31-Mar-14 | | $ | 1,481 | | | $ | 1,703 | | | $ | 355 | | | $ | 1,014 | | | $ | 580 | | | $ | 239 | | | $ | 5,372 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Individually Evaluated for Impairment | | $ | - | | | $ | 785 | | | $ | 249 | | | $ | 252 | | | $ | - | | | $ | - | | | $ | 1,286 | |
Collectively Evaluated for Potential Impairment | | $ | 1,481 | | | $ | 918 | | | $ | 106 | | | $ | 762 | | | $ | 580 | | | $ | 239 | | | $ | 4,086 | |
|
31-Dec-14 | | Real | | | Real | | | Real | | | Commercial | | | Consumer | | | Unallocated | | | Total | |
Estate | Estate | Estate | and |
Residential | Commercial | Construction | Industrial |
Originated Loans | | | | | | | | | | | | | | | | | | | | | |
Individually Evaluated for Impairment | | $ | - | | | $ | 519 | | | $ | 100 | | | $ | 254 | | | $ | - | | | $ | - | | | $ | 873 | |
Collectively Evaluated for Potential Impairment | | $ | 2,690 | | | $ | 63 | | | $ | 22 | | | $ | 430 | | | $ | 1,015 | | | $ | 102 | | | $ | 4,322 | |
|
The following table presents changes in the accretable discount on the loans acquired at fair value for the dates indicated. |
|
| | Accretable Discount | | | | | | | | | | | | | | | | | | | | | | | | | |
Balance at December 31, 2014 | | $ | 4,359 | | | | | | | | | | | | | | | | | | | | | | | | | |
Accretable yield | | | (347 | ) | | | | | | | | | | | | | | | | | | | | | | | | |
Balance at March 31, 2015 | | $ | 4,012 | | | | | | | | | | | | | | | | | | | | | | | | | |
|
The following table presents the major classifications of loans summarized by individually evaluated for impairment and collectively evaluated for potential impairment as of the dates indicated. |
|
| | (Dollars in thousands) | |
| | 31-Mar-15 | |
| | Real | | | Real | | | Real | | | Commercial | | | Consumer | | | Other | | | Total | |
Estate | Estate | Estate | and |
Residential | Commercial | Construction | Industrial |
Originated Loans | | | | | | | | | | | | | | | | | | | | | |
Individually Evaluated for Impairment | | $ | 13 | | | $ | 5,423 | | | $ | 1,106 | | | $ | 1,349 | | | $ | - | | | $ | - | | | $ | 7,891 | |
Collectively Evaluated for Potential Impairment | | | 170,448 | | | | 95,517 | | | | 10,135 | | | | 49,063 | | | | 82,790 | | | | 7,470 | | | | 415,423 | |
| | $ | 170,461 | | | $ | 100,940 | | | $ | 11,241 | | | $ | 50,412 | | | $ | 82,790 | | | $ | 7,470 | | | $ | 423,314 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Loans Acquired at Fair Value | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Individually Evaluated for Impairment | | $ | 942 | | | $ | 1,685 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 2,627 | |
Collectively Evaluated for Potential Impairment | | | 137,164 | | | | 68,937 | | | | 10,544 | | | | 21,777 | | | | 672 | | | | - | | | | 239,094 | |
| | $ | 138,106 | | | $ | 70,622 | | | $ | 10,544 | | | $ | 21,777 | | | $ | 672 | | | $ | - | | | $ | 241,721 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Individually Evaluated for Impairment | | $ | 955 | | | $ | 7,108 | | | $ | 1,106 | | | $ | 1,349 | | | $ | - | | | $ | - | | | $ | 10,518 | |
Collectively Evaluated for Potential Impairment | | | 307,612 | | | | 164,454 | | | | 20,679 | | | | 70,840 | | | | 83,462 | | | | 7,470 | | | | 654,517 | |
| | $ | 308,567 | | | $ | 171,562 | | | $ | 21,785 | | | $ | 72,189 | | | $ | 83,462 | | | $ | 7,470 | | | $ | 665,035 | |
|
| | 31-Dec-14 | |
| | Real | | | Real | | | Real | | | Commercial | | | Consumer | | | Other | | | Total | |
Estate | Estate | Estate | and |
Residential | Commercial | Construction | Industrial |
Originated Loans | | | | | | | | | | | | | | | | | | | | | |
Individually Evaluated for Impairment | | $ | 45 | | | $ | 4,734 | | | $ | 1,133 | | | $ | 686 | | | $ | - | | | $ | - | | | $ | 6,598 | |
Collectively Evaluated for Potential Impairment | | | 169,440 | | | | 92,494 | | | | 8,906 | | | | 48,015 | | | | 76,242 | | | | 7,636 | | | | 402,733 | |
| | $ | 169,485 | | | $ | 97,228 | | | $ | 10,039 | | | $ | 48,701 | | | $ | 76,242 | | | $ | 7,636 | | | $ | 409,331 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Loans Acquired at Fair Value | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Individually Evaluated for Impairment | | $ | 947 | | | $ | 1,846 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 2,793 | |
Collectively Evaluated for Potential Impairment | | | 161,441 | | | | 75,191 | | | | 12,158 | | | | 23,363 | | | | 1,369 | | | | - | | | | 273,522 | |
| | $ | 162,388 | | | $ | 77,037 | | | $ | 12,158 | | | $ | 23,363 | | | $ | 1,369 | | | $ | - | | | $ | 276,315 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Loans | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Individually Evaluated for Impairment | | $ | 992 | | | $ | 6,580 | | | $ | 1,133 | | | $ | 686 | | | $ | - | | | $ | - | | | $ | 9,391 | |
Collectively Evaluated for Potential Impairment | | | 330,881 | | | | 167,685 | | | | 21,064 | | | | 71,378 | | | | 77,611 | | | | 7,636 | | | | 676,255 | |
| | $ | 331,873 | | | $ | 174,265 | | | $ | 22,197 | | | $ | 72,064 | | | $ | 77,611 | | | $ | 7,636 | | | $ | 685,646 | |
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