Note 5 - Loans | 3 Months Ended |
Mar. 31, 2014 |
Receivables [Abstract] | ' |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' |
5. Loans |
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In the tables below, loan classes are based on the Federal Deposit Insurance Corporation’s (“FDIC”) classification code, and portfolio segments are an aggregation of those classes based on the methodology used to develop and document the allowance for loan losses. FDIC classification codes are based on the underlying loan collateral. |
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Composition |
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The following table summarizes gross loans, categorized by portfolio segment, at the dates indicated (dollars in thousands). |
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| | 31-Mar-14 | | | 31-Dec-13 | | | | | | | | | |
| | Total | | | % of total | | | Total | | | % of total | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Commercial real estate | | $ | 445,153 | | | | 58.9 | % | | $ | 455,452 | | | | 59.4 | % | | | | | | | | |
Single-family residential | | | 176,454 | | | | 23.3 | | | | 178,125 | | | | 23.2 | | | | | | | | | |
Commercial and industrial | | | 72,477 | | | | 9.6 | | | | 73,078 | | | | 9.5 | | | | | | | | | |
Consumer | | | 51,319 | | | | 6.8 | | | | 50,099 | | | | 6.5 | | | | | | | | | |
Other | | | 10,475 | | | | 1.4 | | | | 10,759 | | | | 1.4 | | | | | | | | | |
Loans, gross | | $ | 755,878 | | | | 100 | % | | $ | 767,513 | | | | 100 | % | | | | | | | | |
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Residential mortgage loans serviced for the benefit of others amounted to $385.9 million and $384.5 million at March 31, 2014 and December 31, 2013, respectively, and are excluded from the Consolidated Balance Sheets since they are not owned by the Company. |
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Loans included in the preceding table are net of unearned income, charge-offs and unamortized deferred fees and direct loan origination costs. Net unearned income and deferred fees totaled $593 thousand and $643 thousand at March 31, 2014 and December 31, 2013, respectively. |
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Pledged |
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To borrow from the Federal Home Loan Bank (“FHLB”) and cover the various Federal Reserve services that are available for use by the Bank, members must pledge collateral. Acceptable collateral includes, among other types of collateral, a variety of loans including residential, multifamily, home equity lines and second mortgages as well as qualifying commercial loans. At March 31, 2014 and December 31, 2013, $189.4 million and $205.2 million of gross loans, respectively, were pledged to collateralize FHLB advances of which $85.8 million and $90.2 million, respectively, were available as lendable collateral. |
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At March 31, 2014 and December 31, 2013, loans totaling $749 thousand and $794 thousand, respectively, were pledged as collateral to cover the various Federal Reserve services that are available for use by the Bank of which $643 thousand and $651 thousand, respectively, were available as lendable collateral. |
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Concentrations |
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The following table summarizes loans secured by commercial real estate, categorized by class, at March 31, 2014 (dollars in thousands). |
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| | Total commercial | | | % of gross loans | | | % of Bank's | | | | | | | | | | | | | |
real estate loans | total regulatory | | | | | | | | | | | | |
| capital | | | | | | | | | | | | |
Secured by commercial real estate | | | | | | | | | | | | | | | | | | | | | | | | |
Construction, land development and other land loans | | $ | 74,373 | | | | 9.9 | % | | | 55.7 | % | | | | | | | | | | | | |
Multifamily residential | | | 9,983 | | | | 1.3 | | | | 7.5 | | | | | | | | | | | | | |
Nonfarm nonresidential | | | 360,797 | | | | 47.7 | | | | 270.5 | | | | | | | | | | | | | |
Total loans secured by commercial real estate | | $ | 445,153 | | | | 58.9 | % | | | 333.7 | % | | | | | | | | | | | | |
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The following table further categorizes loans secured by commercial real estate at March 31, 2014 (dollars in thousands). |
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| | Total commercial | | | % of gross loans | | | % of Bank's | | | | | | | | | | | | | |
real estate loans | total regulatory | | | | | | | | | | | | |
| capital | | | | | | | | | | | | |
Development commercial real estate loans | | | | | | | | | | | | | | | | | | | | | | | | |
Secured by: | | | | | | | | | | | | | | | | | | | | | | | | |
Land - unimproved (commercial or residential) | | $ | 18,750 | | | | 2.5 | % | | | 14.1 | % | | | | | | | | | | | | |
Land development - commercial | | | 7,376 | | | | 1 | | | | 5.5 | | | | | | | | | | | | | |
Land development - residential | | | 8,071 | | | | 1.1 | | | | 6.1 | | | | | | | | | | | | | |
Commercial construction: | | | | | | | | | | | | | | | | | | | | | | | | |
Retail | | | 1,657 | | | | 0.2 | | | | 1.2 | | | | | | | | | | | | | |
Office | | | 5,840 | | | | 0.8 | | | | 4.4 | | | | | | | | | | | | | |
Multifamily | | | 8,689 | | | | 1.1 | | | | 6.5 | | | | | | | | | | | | | |
Industrial and warehouse | | | 668 | | | | 0.1 | | | | 0.5 | | | | | | | | | | | | | |
Miscellaneous commercial | | | 7,766 | | | | 1 | | | | 5.8 | | | | | | | | | | | | | |
Total development commercial real estate loans | | | 58,817 | | | | 7.8 | | | | 44.1 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Existing and other commercial real estate loans | | | | | | | | | | | | | | | | | | | | | | | | |
Secured by: | | | | | | | | | | | | | | | | | | | | | | | | |
Hotel / motel | | | 53,843 | | | | 7.1 | | | | 40.4 | | | | | | | | | | | | | |
Retail | | | 23,737 | | | | 3.1 | | | | 17.8 | | | | | | | | | | | | | |
Office | | | 9,546 | | | | 1.3 | | | | 7.2 | | | | | | | | | | | | | |
Multifamily | | | 9,983 | | | | 1.3 | | | | 7.5 | | | | | | | | | | | | | |
Industrial and warehouse | | | 6,044 | | | | 0.8 | | | | 4.5 | | | | | | | | | | | | | |
Healthcare | | | 13,728 | | | | 1.8 | | | | 10.3 | | | | | | | | | | | | | |
Miscellaneous commercial | | | 104,775 | | | | 13.9 | | | | 78.5 | | | | | | | | | | | | | |
Total existing and other commercial real estate loans | | | 221,656 | | | | 29.3 | | | | 166.2 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Commercial real estate owner-occupied and residential loans | | | | | | | | | | | | | | | | | | | | | | | | |
Secured by: | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial - owner-occupied | | | 149,124 | | | | 19.7 | | | | 111.8 | | | | | | | | | | | | | |
Commercial construction - owner-occupied | | | 6,861 | | | | 0.9 | | | | 5.1 | | | | | | | | | | | | | |
Residential construction - contract | | | 8,695 | | | | 1.2 | | | | 6.5 | | | | | | | | | | | | | |
Total commercial real estate owner-occupied and residential loans | | | 164,680 | | | | 21.8 | | | | 123.4 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total loans secured by commercial real estate | | $ | 445,153 | | | | 58.9 | % | | | 333.7 | % | | | | | | | | | | | | |
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Asset Quality |
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The following table summarizes various internal credit-quality indicators of gross loans, by class, at March 31, 2014 (in thousands). |
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| | Construction, land | | | Multifamily | | | Nonfarm | | | Total commercial | | | | | | | | | |
development and other | residential | nonresidential | real estate | | | | | | | | |
land loans | | | | | | | | | | | |
Grade 1 | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | | | | | | | |
Grade 2 | | | - | | | | - | | | | - | | | | - | | | | | | | | | |
Grade 3 | | | 10,206 | | | | 163 | | | | 67,597 | | | | 77,966 | | | | | | | | | |
Grade 4 | | | 36,364 | | | | 1,581 | | | | 168,340 | | | | 206,285 | | | | | | | | | |
Grade W | | | 5,134 | | | | 8,059 | | | | 76,633 | | | | 89,826 | | | | | | | | | |
Grade 5 | | | 2,158 | | | | - | | | | 20,418 | | | | 22,576 | | | | | | | | | |
Grade 6 | | | 3,677 | | | | 180 | | | | 26,210 | | | | 30,067 | | | | | | | | | |
Grade 7 | | | 803 | | | | - | | | | 1,599 | | | | 2,402 | | | | | | | | | |
Not risk rated* | | | 16,031 | | | | - | | | | - | | | | 16,031 | | | | | | | | | |
Total | | $ | 74,373 | | | $ | 9,983 | | | $ | 360,797 | | | $ | 445,153 | | | | | | | | | |
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*Consumer real estate loans, included within construction, land development and other land loans, are not risk rated in accordance with the Company's policy. |
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| | Commercial and | | | | | | | | | | | | | | | | | | | | | |
industrial | | | | | | | | | | | | | | | | | | | | |
Grade 1 | | $ | 817 | | | | | | | | | | | | | | | | | | | | | |
Grade 2 | | | 1,589 | | | | | | | | | | | | | | | | | | | | | |
Grade 3 | | | 9,986 | | | | | | | | | | | | | | | | | | | | | |
Grade 4 | | | 49,225 | | | | | | | | | | | | | | | | | | | | | |
Grade W | | | 5,351 | | | | | | | | | | | | | | | | | | | | | |
Grade 5 | | | 1,195 | | | | | | | | | | | | | | | | | | | | | |
Grade 6 | | | 3,899 | | | | | | | | | | | | | | | | | | | | | |
Grade 7 | | | 415 | | | | | | | | | | | | | | | | | | | | | |
Not risk rated | | | - | | | | | | | | | | | | | | | | | | | | | |
Total | | $ | 72,477 | | | | | | | | | | | | | | | | | | | | | |
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| | Single-family | | | Single-family | | | Single-family | | | Total single-family | | | | | | | | | |
residential revolving, | residential closed- | residential closed- | residential loans | | | | | | | | |
open-end loans | end, first lien | end, junior lien | | | | | | | | | |
Performing | | $ | 70,756 | | | $ | 99,686 | | | $ | 3,653 | | | $ | 174,095 | | | | | | | | | |
Nonperforming | | | 564 | | | | 1,686 | | | | 109 | | | | 2,359 | | | | | | | | | |
Total | | $ | 71,320 | | | $ | 101,372 | | | $ | 3,762 | | | $ | 176,454 | | | | | | | | | |
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| | Indirect automobile | | | All other consumer | | | Total consumer | | | | | | | | | | | | | |
Performing | | $ | 39,953 | | | $ | 11,213 | | | $ | 51,166 | | | | | | | | | | | | | |
Nonperforming | | | 136 | | | | 17 | | | | 153 | | | | | | | | | | | | | |
Total | | $ | 40,089 | | | $ | 11,230 | | | $ | 51,319 | | | | | | | | | | | | | |
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| | Other | | | | | | | | | | | | | | | | | | | | | |
Performing | | $ | 10,475 | | | | | | | | | | | | | | | | | | | | | |
Nonperforming | | | - | | | | | | | | | | | | | | | | | | | | | |
Total | | $ | 10,475 | | | | | | | | | | | | | | | | | | | | | |
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The following table summarizes various internal credit-quality indicators of gross loans, by class, at December 31, 2013 (in thousands). |
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| | Construction, land | | | Multifamily | | | Nonfarm | | | Total commercial | | | | | | | | | |
development and | residential | nonresidential | real estate | | | | | | | | |
other land loans | | | | | | | | | | | |
Grade 1 | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | | | | | | | |
Grade 2 | | | - | | | | - | | | | - | | | | - | | | | | | | | | |
Grade 3 | | | 10,025 | | | | 259 | | | | 69,954 | | | | 80,238 | | | | | | | | | |
Grade 4 | | | 34,654 | | | | 887 | | | | 171,585 | | | | 207,126 | | | | | | | | | |
Grade W | | | 8,679 | | | | 9,079 | | | | 83,843 | | | | 101,601 | | | | | | | | | |
Grade 5 | | | 2,202 | | | | - | | | | 16,727 | | | | 18,929 | | | | | | | | | |
Grade 6 | | | 4,400 | | | | 181 | | | | 24,352 | | | | 28,933 | | | | | | | | | |
Grade 7 | | | 803 | | | | - | | | | 1,604 | | | | 2,407 | | | | | | | | | |
Not risk rated* | | | 15,795 | | | | 11 | | | | 412 | | | | 16,218 | | | | | | | | | |
Total | | $ | 76,558 | | | $ | 10,417 | | | $ | 368,477 | | | $ | 455,452 | | | | | | | | | |
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*Consumer real estate loans, included within construction, land development and other land loans, are not risk rated in accordance with the Company's policy. |
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| | Commercial and | | | | | | | | | | | | | | | | | | | | | |
industrial | | | | | | | | | | | | | | | | | | | | |
Grade 1 | | $ | 879 | | | | | | | | | | | | | | | | | | | | | |
Grade 2 | | | 1,186 | | | | | | | | | | | | | | | | | | | | | |
Grade 3 | | | 8,830 | | | | | | | | | | | | | | | | | | | | | |
Grade 4 | | | 51,167 | | | | | | | | | | | | | | | | | | | | | |
Grade W | | | 5,151 | | | | | | | | | | | | | | | | | | | | | |
Grade 5 | | | 2,361 | | | | | | | | | | | | | | | | | | | | | |
Grade 6 | | | 2,923 | | | | | | | | | | | | | | | | | | | | | |
Grade 7 | | | 494 | | | | | | | | | | | | | | | | | | | | | |
Not risk rated | | | 87 | | | | | | | | | | | | | | | | | | | | | |
Total | | $ | 73,078 | | | | | | | | | | | | | | | | | | | | | |
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| | Single-family | | | Single-family | | | Single-family | | | Total single-family residential loans | | | | | | | | | |
residential revolving, | residential closed- | residential closed- | | | | | | | | |
open-end loans | end, first lien | end, junior lien | | | | | | | | |
Performing | | $ | 69,121 | | | $ | 101,100 | | | $ | 3,802 | | | $ | 174,023 | | | | | | | | | |
Nonperforming | | | 797 | | | | 3,176 | | | | 129 | | | | 4,102 | | | | | | | | | |
Total | | $ | 69,918 | | | $ | 104,276 | | | $ | 3,931 | | | $ | 178,125 | | | | | | | | | |
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| | Indirect automobile | | | All other consumer | | | Total consumer | | | | | | | | | | | | | |
Performing | | $ | 38,514 | | | $ | 11,349 | | | $ | 49,863 | | | | | | | | | | | | | |
Nonperforming | | | 210 | | | | 26 | | | | 236 | | | | | | | | | | | | | |
Total | | $ | 38,724 | | | $ | 11,375 | | | $ | 50,099 | | | | | | | | | | | | | |
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| | Other | | | | | | | | | | | | | | | | | | | | | |
Performing | | $ | 10,759 | | | | | | | | | | | | | | | | | | | | | |
Nonperforming | | | - | | | | | | | | | | | | | | | | | | | | | |
Total | | $ | 10,759 | | | | | | | | | | | | | | | | | | | | | |
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The following table summarizes delinquencies, by class, at March 31, 2014 (in thousands). |
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| | 30-89 days | | | Greater than | | | Total past due | | | Current | | | Loans, gross | | | | | |
past due and | 90 days past | | | | |
still accruing | due and not | | | | |
| accruing | | | | |
| (nonaccrual) | | | | |
Construction, land development and other land loans | | $ | 322 | | | $ | 3,197 | | | $ | 3,519 | | | $ | 70,854 | | | $ | 74,373 | | | | | |
Multifamily residential | | | - | | | | 180 | | | | 180 | | | | 9,803 | | | | 9,983 | | | | | |
Nonfarm nonresidential | | | 4,032 | | | | 5,382 | | | | 9,414 | | | | 351,383 | | | | 360,797 | | | | | |
Total commercial real estate | | | 4,354 | | | | 8,759 | | | | 13,113 | | | | 432,040 | | | | 445,153 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Single-family real estate, revolving, open-end loans | | | 317 | | | | 564 | | | | 881 | | | | 70,439 | | | | 71,320 | | | | | |
Single-family real estate, closed-end, first lien | | | 929 | | | | 2,686 | | | | 3,615 | | | | 97,757 | | | | 101,372 | | | | | |
Single-family real estate, closed-end, junior lien | | | 27 | | | | 109 | | | | 136 | | | | 3,626 | | | | 3,762 | | | | | |
Total single-family residential | | | 1,273 | | | | 3,359 | | | | 4,632 | | | | 171,822 | | | | 176,454 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | | 177 | | | | 1,764 | | | | 1,941 | | | | 70,536 | | | | 72,477 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Indirect automobile | | | 253 | | | | 136 | | | | 389 | | | | 39,700 | | | | 40,089 | | | | | |
All other consumer | | | 58 | | | | 17 | | | | 75 | | | | 11,155 | | | | 11,230 | | | | | |
Total consumer | | | 311 | | | | 153 | | | | 464 | | | | 50,855 | | | | 51,319 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Farmland | | | - | | | | - | | | | - | | | | 3,341 | | | | 3,341 | | | | | |
Obligations of states and political subdivisions of the U.S. | | | - | | | | - | | | | - | | | | 478 | | | | 478 | | | | | |
Other | | | - | | | | - | | | | - | | | | 6,656 | | | | 6,656 | | | | | |
Total other | | | - | | | | - | | | | - | | | | 10,475 | | | | 10,475 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Loans, gross | | $ | 6,115 | | | $ | 14,035 | | | $ | 20,150 | | | $ | 735,728 | | | $ | 755,878 | | | | | |
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Additional interest income of $169 thousand would have been reported during the three months ended March 31, 2014 had loans classified as nonaccrual during the period performed in accordance with their current contractual terms. This interest income was not recorded in the Company's Consolidated Statements of Income. |
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The following table summarizes delinquencies, by class, at December 31, 2013 (in thousands). |
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| | 30-89 days | | | Greater than | | | Total past due | | | Current | | | Loans, gross | | | | | |
past due and | 90 days past | | | | |
still accruing | due and not | | | | |
| accruing | | | | |
| (nonaccrual) | | | | |
Construction, land development and other land loans | | $ | 82 | | | $ | 3,872 | | | $ | 3,954 | | | $ | 72,604 | | | $ | 76,558 | | | | | |
Multifamily residential | | | - | | | | 181 | | | | 181 | | | | 10,236 | | | | 10,417 | | | | | |
Nonfarm nonresidential | | | 1,199 | | | | 4,832 | | | | 6,031 | | | | 362,446 | | | | 368,477 | | | | | |
Total commercial real estate | | | 1,281 | | | | 8,885 | | | | 10,166 | | | | 445,286 | | | | 455,452 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Single-family real estate, revolving, open-end loans | | | 148 | | | | 797 | | | | 945 | | | | 68,973 | | | | 69,918 | | | | | |
Single-family real estate, closed-end, first lien | | | 1,091 | | | | 3,176 | | | | 4,267 | | | | 100,009 | | | | 104,276 | | | | | |
Single-family real estate, closed-end, junior lien | | | 41 | | | | 129 | | | | 170 | | | | 3,761 | | | | 3,931 | | | | | |
Total single-family residential | | | 1,280 | | | | 4,102 | | | | 5,382 | | | | 172,743 | | | | 178,125 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | | 306 | | | | 1,885 | | | | 2,191 | | | | 70,887 | | | | 73,078 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Indirect automobile | | | 294 | | | | 210 | | | | 504 | | | | 38,220 | | | | 38,724 | | | | | |
All other consumer | | | 41 | | | | 26 | | | | 67 | | | | 11,308 | | | | 11,375 | | | | | |
Total consumer | | | 335 | | | | 236 | | | | 571 | | | | 49,528 | | | | 50,099 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Farmland | | | - | | | | - | | | | - | | | | 3,394 | | | | 3,394 | | | | | |
Obligations of states and political subdivisions of the U.S. | | | - | | | | - | | | | - | | | | 497 | | | | 497 | | | | | |
Other | | | - | | | | - | | | | - | | | | 6,868 | | | | 6,868 | | | | | |
Total other | | | - | | | | - | | | | - | | | | 10,759 | | | | 10,759 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Loans, gross | | $ | 3,202 | | | $ | 15,108 | | | $ | 18,310 | | | $ | 749,203 | | | $ | 767,513 | | | | | |
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Troubled Debt Restructurings. The following table summarizes the carrying balance of troubled debt restructurings at the dates indicated (in thousands). |
|
| | March 31, | | | December 31, | | | | | | | | | | | | | | | | | |
2014 | 2013 | | | | | | | | | | | | | | | | |
Performing | | $ | 25,662 | | | $ | 26,744 | | | | | | | | | | | | | | | | | |
Nonperforming | | | 1,942 | | | | 2,184 | | | | | | | | | | | | | | | | | |
Total troubled debt restructurings | | $ | 27,604 | | | $ | 28,928 | | | | | | | | | | | | | | | | | |
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Loans classified as troubled debt restructurings may be removed from this status for disclosure purposes after a specified period of time if the restructured agreement specifies an interest rate equal to or greater than the rate that the lender was willing to accept at the time of the restructuring for a new loan with comparable risk, and the loan is performing in accordance with the terms specified by the restructured agreement. The following table summarizes troubled debt restructurings removed from this classification during the periods indicated (dollars in thousands). |
|
| | For the three months ended March 31, | | | | | | | | | | | | | | | | | |
| | 2014 | | | 2013 | | | | | | | | | | | | | | | | | |
Carrying balance | | $ | 956 | | | $ | 5,842 | | | | | | | | | | | | | | | | | |
Count | | | 3 | | | | 8 | | | | | | | | | | | | | | | | | |
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The following table summarizes, by class, loans that were modified resulting in troubled debt restructurings during the periods indicated (dollars in thousands). |
|
| | For the three months ended March 31, | |
| | 2014 | | | 2013 | |
| | Number of loans | | | Pre- | | | Post- | | | Number of loans | | | Pre- | | | Post- | |
modification | modification | modification | modification |
outstanding | outstanding | outstanding | outstanding |
recorded | recorded | recorded | recorded |
investment | investment | investment | investment |
| | | | | | | | | | | | | | | | | | | | | | | | |
Construction, land development and other land loans | | | - | | | $ | - | | | $ | - | | | | 1 | | | $ | 60 | | | $ | 60 | |
Loans, gross | | | - | | | $ | - | | | $ | - | | | | 1 | | | $ | 60 | | | $ | 60 | |
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The following table summarizes, by type of concession, loans that were modified resulting in troubled debt restructurings during the periods indicated (dollars in thousands). |
|
| | For the three months ended March 31, | |
| | 2014 | | | 2013 | |
| | Number of | | | Pre- | | | Post- | | | Number of | | | Pre- | | | Post- | |
loans | modification | modification | loans | modification | modification |
| outstanding | outstanding | | outstanding | outstanding |
| recorded | recorded | | recorded | recorded |
| investment | investment | | investment | investment |
| | | | | | | | | | | | | | | | | | | | | | | | |
Rate concession | | | - | | | $ | - | | | $ | - | | | | 1 | | | $ | 60 | | | $ | 60 | |
Loans, gross | | | - | | | $ | - | | | $ | - | | | | 1 | | | $ | 60 | | | $ | 60 | |
|
The following table summarizes, by class, loans that were modified resulting in troubled debt restructurings within the previous 12-month period for which there was a payment default during the periods indicated (dollars in thousands). |
|
| | For the three months ended March 31, | | | | | | | | | |
| | 2014 | | | 2013 | | | | | | | | | |
| | Number | | | Recorded | | | Number | | | Recorded | | | | | | | | | |
of loans | investment | of loans | investment | | | | | | | | |
Nonfarm nonresidential | | | 2 | | | $ | 2,597 | | | | - | | | $ | - | | | | | | | | | |
Loans, gross | | | 2 | | | $ | 2,597 | | | | - | | | $ | - | | | | | | | | | |
|
Impaired Loans. The following tables summarize the composition of impaired loans at the dates indicated (in thousands). |
|
| | March 31, | | | December 31, | | | | | | | | | | | | | | | | | |
2014 | 2013 | | | | | | | | | | | | | | | | |
Performing troubled debt restructured loans | | $ | 25,662 | | | $ | 26,744 | | | | | | | | | | | | | | | | | |
Nonperforming troubled debt restructured loans | | | 1,942 | | | | 2,184 | | | | | | | | | | | | | | | | | |
Nonperforming other loans | | | 6,048 | | | | 6,580 | | | | | | | | | | | | | | | | | |
Performing other loans | | | 9,730 | | | | 9,187 | | | | | | | | | | | | | | | | | |
Total impaired loans | | $ | 43,382 | | | $ | 44,695 | | | | | | | | | | | | | | | | | |
|
The following table summarizes the composition of and information relative to impaired loans, by class, at March 31, 2014 (in thousands). |
|
| | Loans, gross | | | | | | | | | | | |
| | Recorded | | | | Unpaid | | | | Related | | | | | | | | | | | |
investment | principal | allowance | | | | | | | | | | |
| balance | | | | | | | | | | | |
With no related allowance recorded: | | | | | | | | | | | | | | | | | | | | | | | | |
Construction, land development and other land loans | | $ | 2,757 | | | | $ | 6,016 | | | | | | | | | | | | | | | | |
Multifamily residential | | | 180 | | | | | 239 | | | | | | | | | | | | | | | | |
Nonfarm nonresidential | | | 20,132 | | | | | 24,940 | | | | | | | | | | | | | | | | |
Total commercial real estate | | | 23,069 | | | | | 31,195 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Single-family real estate, revolving, open-end loans | | | - | | | | | - | | | | | | | | | | | | | | | | |
Single-family real estate, closed-end, first lien | | | 921 | | | | | 5,208 | | | | | | | | | | | | | | | | |
Single-family real estate, closed-end, junior lien | | | 27 | | | | | 27 | | | | | | | | | | | | | | | | |
Total single-family residential | | | 948 | | | | | 5,235 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | | 735 | | | | | 1,132 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Consumer | | | 6 | | | | | 15 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total impaired loans with no related allowance recorded | | $ | 24,758 | | | | $ | 37,577 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
With an allowance recorded: | | | | | | | | | | | | | | | | | | | | | | | | |
Construction, land development and other land loans | | $ | 259 | | | | $ | 259 | | | | $ | 68 | | | | | | | | | | | |
Multifamily residential | | | - | | | | | - | | | | | - | | | | | | | | | | | |
Nonfarm nonresidential | | | 15,883 | | | | | 17,338 | | | | | 1,770 | | | | | | | | | | | |
Total commercial real estate | | | 16,142 | | | | | 17,597 | | | | | 1,838 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Single-family real estate, revolving, open-end loans | | | 404 | | | | | 404 | | | | | - | | | | | | | | | | | |
Single-family real estate, closed-end, first lien | | | 253 | | | | | 253 | | | | | 13 | | | | | | | | | | | |
Single-family real estate, closed-end, junior lien | | | 167 | | | | | 167 | | | | | 138 | | | | | | | | | | | |
Total single-family residential | | | 824 | | | | | 824 | | | | | 151 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | | 1,641 | | | | | 2,941 | | | | | 478 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Consumer | | | 17 | | | | | 17 | | | | | 3 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total impaired loans with an allowance recorded | | $ | 18,624 | | | | $ | 21,379 | | | | $ | 2,470 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total: | | | | | | | | | | | | | | | | | | | | | | | | |
Construction, land development and other land loans | | $ | 3,016 | | | | $ | 6,275 | | | | $ | 68 | | | | | | | | | | | |
Multifamily residential | | | 180 | | | | | 239 | | | | | - | | | | | | | | | | | |
Nonfarm nonresidential | | | 36,015 | | | | | 42,278 | | | | | 1,770 | | | | | | | | | | | |
Total commercial real estate | | | 39,211 | | | | | 48,792 | | | | | 1,838 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Single-family real estate, revolving, open-end loans | | | 404 | | | | | 404 | | | | | - | | | | | | | | | | | |
Single-family real estate, closed-end, first lien | | | 1,174 | | | | | 5,461 | | | | | 13 | | | | | | | | | | | |
Single-family real estate, closed-end, junior lien | | | 194 | | | | | 194 | | | | | 138 | | | | | | | | | | | |
Total single-family residential | | | 1,772 | | | | | 6,059 | | | | | 151 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | | 2,376 | | | | | 4,073 | | | | | 478 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Consumer | | | 23 | | | | | 32 | | | | | 3 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total impaired loans | | $ | 43,382 | | | | $ | 58,956 | | | | $ | 2,470 | | | | | | | | | | | |
|
Interest income recognized on impaired loans during the three months ended March 31, 2014 was $462 thousand. The average balance of total impaired loans was $44.1 million for the same period. |
|
The following table summarizes the composition of and information relative to impaired loans, by class, at December 31, 2013 (in thousands). |
|
| | Loans, gross | | | | | | | | | | | |
| | Recorded | | | | Unpaid | | | | Related | | | | | | | | | | | |
investment | principal | allowance | | | | | | | | | | |
| balance | | | | | | | | | | | |
With no related allowance recorded: | | | | | | | | | | | | | | | | | | | | | | | | |
Construction, land development and other land loans | | $ | 3,244 | | | | $ | 6,503 | | | | | | | | | | | | | | | | |
Multifamily residential | | | 181 | | | | | 239 | | | | | | | | | | | | | | | | |
Nonfarm nonresidential | | | 17,414 | | | | | 24,422 | | | | | | | | | | | | | | | | |
Total commercial real estate | | | 20,839 | | | | | 31,164 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Single-family real estate, revolving, open-end loans | | | - | | | | | - | | | | | | | | | | | | | | | | |
Single-family real estate, closed-end, first lien | | | 1,369 | | | | | 5,811 | | | | | | | | | | | | | | | | |
Single-family real estate, closed-end, junior lien | | | - | | | | | - | | | | | | | | | | | | | | | | |
Total single-family residential | | | 1,369 | | | | | 5,811 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | | 753 | | | | | 1,150 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Consumer | | | 7 | | | | | 7 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total impaired loans with no related allowance recorded | | $ | 22,968 | | | | $ | 38,132 | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
With an allowance recorded: | | | | | | | | | | | | | | | | | | | | | | | | |
Construction, land development and other land loans | | $ | 260 | | | | $ | 260 | | | | $ | 68 | | | | | | | | | | | |
Multifamily residential | | | - | | | | | - | | | | | - | | | | | | | | | | | |
Nonfarm nonresidential | | | 18,839 | | | | | 18,839 | | | | | 1,668 | | | | | | | | | | | |
Total commercial real estate | | | 19,099 | | | | | 19,099 | | | | | 1,736 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Single-family real estate, revolving, open-end loans | | | 404 | | | | | 404 | | | | | 83 | | | | | | | | | | | |
Single-family real estate, closed-end, first lien | | | 323 | | | | | 323 | | | | | 18 | | | | | | | | | | | |
Single-family real estate, closed-end, junior lien | | | 195 | | | | | 195 | | | | | 62 | | | | | | | | | | | |
Total single-family residential | | | 922 | | | | | 922 | | | | | 163 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | | 1,680 | | | | | 2,980 | | | | | 644 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Consumer | | | 26 | | | | | 26 | | | | | 12 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total impaired loans with an allowance recorded | | $ | 21,727 | | | | $ | 23,027 | | | | $ | 2,555 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total: | | | | | | | | | | | | | | | | | | | | | | | | |
Construction, land development and other land loans | | $ | 3,504 | | | | $ | 6,763 | | | | $ | 68 | | | | | | | | | | | |
Multifamily residential | | | 181 | | | | | 239 | | | | | - | | | | | | | | | | | |
Nonfarm nonresidential | | | 36,253 | | | | | 43,261 | | | | | 1,668 | | | | | | | | | | | |
Total commercial real estate | | | 39,938 | | | | | 50,263 | | | | | 1,736 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Single-family real estate, revolving, open-end loans | | | 404 | | | | | 404 | | | | | 83 | | | | | | | | | | | |
Single-family real estate, closed-end, first lien | | | 1,692 | | | | | 6,134 | | | | | 18 | | | | | | | | | | | |
Single-family real estate, closed-end, junior lien | | | 195 | | | | | 195 | | | | | 62 | | | | | | | | | | | |
Total single-family residential | | | 2,291 | | | | | 6,733 | | | | | 163 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | | 2,433 | | | | | 4,130 | | | | | 644 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Consumer | | | 33 | | | | | 33 | | | | | 12 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total impaired loans | | $ | 44,695 | | | | $ | 61,159 | | | | $ | 2,555 | | | | | | | | | | | |
|
Allowance for Loan Losses |
|
The following tables summarize the allowance for loan losses and recorded investment in gross loans, by portfolio segment, at the dates and for the periods indicated (in thousands). |
|
| | For the three months ended March 31, 2014 | |
| | Commercial | | | Single-family | | | Commercial and | | | Consumer | | | Other | | | Total | |
real estate | residential | industrial |
Allowance for loan losses, beginning of period | | $ | 10,565 | | | $ | 3,124 | | | $ | 1,682 | | | $ | 1,118 | | | $ | (4 | ) | | $ | 16,485 | |
Provision for loan losses | | | 48 | | | | (37 | ) | | | (171 | ) | | | 35 | | | | 125 | | | | - | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Loan charge-offs | | | 161 | | | | 104 | | | | - | | | | 56 | | | | 155 | | | | 476 | |
Loan recoveries | | | 5 | | | | 91 | | | | 12 | | | | 31 | | | | 95 | | | | 234 | |
Net loans charged-off | | | 156 | | | | 13 | | | | (12 | ) | | | 25 | | | | 60 | | | | 242 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Allowance for loan losses, end of period | | $ | 10,457 | | | $ | 3,074 | | | $ | 1,523 | | | $ | 1,128 | | | $ | 61 | | | $ | 16,243 | |
|
| | 31-Mar-14 | |
| | Commercial | | | Single-family | | | Commercial and | | | Consumer | | | Other | | | Total | |
real estate | residential | industrial |
Individually evaluated for impairment | | $ | 1,838 | | | $ | 151 | | | $ | 478 | | | $ | 3 | | | $ | - | | | $ | 2,470 | |
Collectively evaluated for impairment | | | 8,619 | | | | 2,923 | | | | 1,045 | | | | 1,125 | | | | 61 | | | | 13,773 | |
Allowance for loan losses, end of period | | $ | 10,457 | | | $ | 3,074 | | | $ | 1,523 | | | $ | 1,128 | | | $ | 61 | | | $ | 16,243 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Individually evaluated for impairment | | $ | 39,211 | | | $ | 1,772 | | | $ | 2,376 | | | $ | 23 | | | $ | - | | | $ | 43,382 | |
Collectively evaluated for impairment | | | 405,942 | | | | 174,682 | | | | 70,101 | | | | 51,296 | | | | 10,475 | | | | 712,496 | |
Loans, gross | | $ | 445,153 | | | $ | 176,454 | | | $ | 72,477 | | | $ | 51,319 | | | $ | 10,475 | | | $ | 755,878 | |
|
| | For the three months ended March 31, 2013 | |
| | Commercial | | | Single-family | | | Commercial and | | | Consumer | | | Other | | | Total | |
real estate | residential | industrial |
Allowance for loan losses, beginning of period | | $ | 12,317 | | | $ | 3,140 | | | $ | 1,264 | | | $ | 1,093 | | | $ | 11 | | | $ | 17,825 | |
Provision for loan losses | | | (270 | ) | | | (101 | ) | | | 655 | | | | (17 | ) | | | 83 | | | | 350 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Loan charge-offs | | | 464 | | | | 133 | | | | 39 | | | | 97 | | | | 215 | | | | 948 | |
Loan recoveries | | | 31 | | | | 43 | | | | 10 | | | | 34 | | | | 125 | | | | 243 | |
Net loans charged-off | | | 433 | | | | 90 | | | | 29 | | | | 63 | | | | 90 | | | | 705 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Allowance for loan losses, end of period | | $ | 11,614 | | | $ | 2,949 | | | $ | 1,890 | | | $ | 1,013 | | | $ | 4 | | | $ | 17,470 | |
|
| | 31-Mar-13 | |
| | Commercial | | | Single-family | | | Commercial and | | | Consumer | | | Other | | | Total | |
real estate | residential | industrial |
Individually evaluated for impairment | | $ | 1,995 | | | $ | 214 | | | $ | 880 | | | $ | 4 | | | $ | - | | | $ | 3,093 | |
Collectively evaluated for impairment | | | 9,619 | | | | 2,735 | | | | 1,010 | | | | 1,009 | | | | 4 | | | | 14,377 | |
Allowance for loan losses, end of period | | $ | 11,614 | | | $ | 2,949 | | | $ | 1,890 | | | $ | 1,013 | | | $ | 4 | | | $ | 17,470 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Individually evaluated for impairment | | $ | 36,989 | | | $ | 3,056 | | | $ | 3,062 | | | $ | 37 | | | $ | - | | | $ | 43,144 | |
Collectively evaluated for impairment | | | 419,021 | | | | 163,333 | | | | 46,558 | | | | 49,014 | | | | 9,694 | | | | 687,620 | |
Loans, gross | | $ | 456,010 | | | $ | 166,389 | | | $ | 49,620 | | | $ | 49,051 | | | $ | 9,694 | | | $ | 730,764 | |
|