Financing Receivables [Text Block] | Note 4. The composition of the loan/lease portfolio as of December 31, 2016 2015 2016 2015 C&I loans $ 827,637,263 $ 648,159,892 CRE loans Owner-occupied CRE 332,387,621 252,523,164 Commercial construction, land development, and other land 165,149,491 49,083,844 Other non owner-occupied CRE 595,921,748 422,761,757 1,093,458,860 724,368,765 Direct financing leases * 165,419,360 173,655,605 Residential real estate loans ** 229,233,104 170,432,530 Installment and other consumer loans 81,665,695 73,669,493 2,397,414,282 1,790,286,285 Plus deferred loan/lease origination costs, net of fees 8,072,703 7,736,390 2,405,486,985 1,798,022,675 Less allowance (30,757,448 ) (26,140,906 ) $ 2,374,729,537 $ 1,771,881,769 * Direct financing leases: Net minimum lease payments to be received $ 184,274,802 $ 195,476,230 Estimated unguaranteed residual values of leased assets 1,085,154 1,165,706 Unearned lease/residual income (19,940,596 ) (22,986,331 ) 165,419,360 173,655,605 Plus deferred lease origination costs, net of fees 5,881,778 6,594,582 171,301,138 180,250,187 Less allowance (3,111,898 ) (3,395,088 ) $ 168,189,240 $ 176,855,099 Management performs an evaluation of the estimated unguaranteed residual values of leased assets on an annual basis, at a minimum. The evaluation consists of discussions with reputable and current vendors and management’s expertise and understanding of the current states of particular industries to determine informal valuations of the equipment. As necessary and where available, management will utilize valuations by independent appraisers. The large majority of leases with residual values contain a lease options rider which requires the lessee to pay the residual value directly, finance the payment of the residual value, or extend the lease term to pay the residual value. In these cases, the residual value is protected and the risk of loss is minimal. There were no losses related to residual values during the years ended December 31, 2016, 2015, 2014. December 31, 2016, 13 $1,085,164 December 31, 2015, 16 $1,165,706 **Includes residential real estate loans held for sale totaling $1,135,500 $565,850 December 31, 2016 2015, The aging of the loan/lease portfolio by classes of loans/leases as of December 31, 2016 2015 2016 Classes of Loans/Leases Current 30-59 Days Past Due 60-89 Days Past Due Accruing Past Due 90 Days or More Nonaccrual Loans/Leases Total C&I $ 821,637,507 $ 1,455,185 $ 10,551 $ 346,234 $ 4,187,786 $ 827,637,263 CRE Owner-Occupied CRE 331,812,571 - 242,902 - 332,148 332,387,621 Commercial Construction, Land Development, and Other Land 160,760,034 35,638 - - 4,353,819 165,149,491 Other Non Owner-Occupied CRE 594,384,926 100,673 - - 1,436,149 595,921,748 Direct Financing Leases 161,452,627 730,627 574,700 215,225 2,446,181 165,419,360 Residential Real Estate 227,023,552 473,478 365,581 294,854 1,075,639 229,233,104 Installment and Other Consumer 81,199,766 204,973 63,111 110,501 87,344 81,665,695 $ 2,378,270,983 $ 3,000,574 $ 1,256,845 $ 966,814 $ 13,919,066 $ 2,397,414,282 As a percentage of total loan/lease portfolio 99.20 % 0.13 % 0.05 % 0.04 % 0.58 % 100.00 % 2015 Classes of Loans/Leases Current 30-59 Days Past Due 60-89 Days Past Due Accruing Past Due 90 Days or More Nonaccrual Loans/Leases Total C&I $ 640,725,241 $ 1,636,860 $ 5,816 $ - $ 5,791,975 $ 648,159,892 CRE Owner-Occupied CRE 251,612,752 182,949 - - 727,463 252,523,164 Commercial Construction, Land Development, and Other Land 48,890,040 - - - 193,804 49,083,844 Other Non Owner-Occupied CRE 420,819,874 614,732 219,383 - 1,107,768 422,761,757 Direct Financing Leases 170,021,289 1,490,818 439,314 2,843 1,701,341 173,655,605 Residential Real Estate 166,415,118 2,800,589 200,080 - 1,016,743 170,432,530 Installment and Other Consumer 73,134,197 412,052 14,127 - 109,117 73,669,493 $ 1,771,618,511 $ 7,138,000 $ 878,720 $ 2,843 $ 10,648,211 $ 1,790,286,285 As a percentage of total loan/lease portfolio 98.96 % 0.40 % 0.05 % 0.00 % 0.59 % 100.00 % NPLs by classes of loans/leases as of December 31, 2016 2015 2016 Classes of Loans/Leases Accruing Past Due 90 Days or More Nonaccrual Loans/Leases * Accruing TDRs Total NPLs Percentage of Total NPLs C&I $ 346,234 $ 4,187,786 $ 4,733,997 $ 9,268,017 43.65 % CRE Owner-Occupied CRE - 332,148 - 332,148 1.56 % Commercial Construction, Land Development, and Other Land - 4,353,819 - 4,353,819 20.51 % Other Non Owner-Occupied CRE - 1,436,149 - 1,436,149 6.77 % Direct Financing Leases 215,225 2,446,181 1,008,244 3,669,650 17.28 % Residential Real Estate 294,854 1,075,639 585,541 1,956,034 9.21 % Installment and Other Consumer 110,501 87,344 18,746 216,591 1.02 % $ 966,814 $ 13,919,066 $ 6,346,528 $ 21,232,408 100.00 % *At December 31, 2016, $2,300,479 $48,501 $1,380,047 $816,149 $43,579 $12,203 2015 Classes of Loans/Leases Accruing Past Due 90 Days or More Nonaccrual Loans/Leases ** Accruing TDRs Total NPLs Percentage of Total NPLs C&I $ - $ 5,791,975 $ 173,087 $ 5,965,062 50.96 % CRE Owner-Occupied CRE - 727,463 - 727,463 6.22 % Commercial Construction, Land Development, and Other Land - 193,804 - 193,804 1.66 % Other Non Owner-Occupied CRE - 1,107,768 - 1,107,768 9.46 % Direct Financing Leases 2,843 1,701,341 - 1,704,184 14.56 % Residential Real Estate - 1,016,743 402,044 1,418,787 12.12 % Installment and Other Consumer - 109,117 478,625 587,742 5.02 % $ 2,843 $ 10,648,211 $ 1,053,756 $ 11,704,810 100.00 % ** At December 31, 2015, $1,533,657 $1,164,423 $193,804 $42,098 $119,305 $14,027 Changes in the allowance by portfolio segment for the years ended December 31, 2016, 2015, 2014 Year Ended December 31, 2016 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 10,484,080 $ 9,375,117 $ 3,395,088 $ 1,790,150 $ 1,096,471 $ 26,140,906 Provisions (credits) charged to expense 2,478,912 2,286,953 2,127,463 628,114 (43,276 ) 7,478,166 Loans/leases charged off (527,152 ) (24,304 ) (2,503,417 ) (76,820 ) (112,490 ) (3,244,183 ) Recoveries on loans/leases previously charged off 109,270 32,843 92,764 900 146,782 382,559 Balance, ending $ 12,545,110 $ 11,670,609 $ 3,111,898 $ 2,342,344 $ 1,087,487 $ 30,757,448 Year Ended December 31, 2015 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 8,833,832 $ 8,353,386 $ 3,359,400 $ 1,525,952 $ 1,001,795 $ 23,074,365 Provisions charged to expense 1,470,526 3,080,611 1,688,031 430,087 201,645 6,870,900 Loans/leases charged off (453,782 ) (2,560,749 ) (1,788,772 ) (169,996 ) (251,838 ) (5,225,137 ) Recoveries on loans/leases previously charged off 633,504 501,869 136,429 4,107 144,869 1,420,778 Balance, ending $ 10,484,080 $ 9,375,117 $ 3,395,088 $ 1,790,150 $ 1,096,471 $ 26,140,906 Year Ended December 31, 2014 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Balance, beginning $ 5,648,774 $ 10,705,434 $ 2,517,217 $ 1,395,849 $ 1,180,774 $ 21,448,048 Provisions (credits) charged to expense 4,297,253 (13,326 ) 2,278,132 251,030 (6,089 ) 6,807,000 Loans/leases charged off (1,475,885 ) (2,756,083 ) (1,504,181 ) (130,900 ) (268,656 ) (6,135,705 ) Recoveries on loans/leases previously charged off 363,690 417,361 68,232 9,973 95,766 955,022 Balance, ending $ 8,833,832 $ 8,353,386 $ 3,359,400 $ 1,525,952 $ 1,001,795 $ 23,074,365 The allowance by impairment evaluation and by portfolio segment as of December 31, 2016 2015 2016 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Allowance for impaired loans/leases $ 1,771,537 $ 693,919 $ 848,919 $ 289,112 $ 39,481 $ 3,642,968 Allowance for nonimpaired loans/leases 10,773,573 10,976,690 2,262,979 2,053,232 1,048,006 27,114,480 $ 12,545,110 $ 11,670,609 $ 3,111,898 $ 2,342,344 $ 1,087,487 $ 30,757,448 Impaired loans/leases $ 8,936,451 $ 6,112,114 $ 3,256,264 $ 1,661,180 $ 106,090 $ 20,072,099 Nonimpaired loans/leases 818,700,812 1,087,346,746 162,163,096 227,571,924 81,559,605 2,377,342,183 $ 827,637,263 $ 1,093,458,860 $ 165,419,360 $ 229,233,104 $ 81,665,695 $ 2,397,414,282 Allowance as a percentage of impaired loans/leases 19.82 % 11.35 % 26.07 % 17.40 % 37.21 % 18.15 % Allowance as a percentage of nonimpaired loans/leases 1.32 % 1.01 % 1.40 % 0.90 % 1.28 % 1.14 % Total allowance as a percentage of total loans/leases 1.52 % 1.07 % 1.88 % 1.02 % 1.33 % 1.28 % 2015 C&I CRE Direct Financing Leases Residential Real Estate Installment and Other Consumer Total Allowance for impaired loans/leases $ 2,592,270 $ 76,934 $ 306,193 $ 185,801 $ 143,089 $ 3,304,287 Allowance for nonimpaired loans/leases 7,891,810 9,298,183 3,088,895 1,604,349 953,382 22,836,619 $ 10,484,080 $ 9,375,117 $ 3,395,088 $ 1,790,150 $ 1,096,471 $ 26,140,906 Impaired loans/leases $ 5,286,482 $ 2,029,035 $ 1,701,341 $ 1,418,787 $ 587,742 $ 11,023,387 Nonimpaired loans/leases 642,873,410 722,339,730 171,954,264 169,013,743 73,081,751 1,779,262,898 $ 648,159,892 $ 724,368,765 $ 173,655,605 $ 170,432,530 $ 73,669,493 $ 1,790,286,285 Allowance as a percentage of impaired loans/leases 49.04 % 3.79 % 18.00 % 13.10 % 24.35 % 29.98 % Allowance as a percentage of nonimpaired loans/leases 1.23 % 1.29 % 1.80 % 0.95 % 1.30 % 1.28 % Total allowance as a percentage of total loans/leases 1.62 % 1.29 % 1.96 % 1.05 % 1.49 % 1.45 % Information for impaired loans/leases is presented in the tables below. The recorded investment represents customer balances net of any partial charge-offs recognized on the loan/lease. The unpaid principal balance represents the recorded balance outstanding on the loan/lease prior to any partial charge-offs. Loans/leases, by classes of financing receivable, considered to be impaired as of and for the years ended December 31, 2016, 2015, 2014 2016 Classes of Loans/Leases Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Recognized for Cash Payments Received Impaired Loans/Leases with No Specific Allowance Recorded: C&I $ 841,895 $ 951,600 $ - $ 2,858,343 $ 16,748 $ 16,748 CRE Owner-Occupied CRE - 93,774 - 312,242 - - Commercial Construction, Land Development, and Other Land - - - - - - Other Non Owner-Occupied CRE 1,196,549 1,196,549 - 1,322,654 - - Direct Financing Leases 1,690,121 1,690,121 - 1,731,982 43,461 43,461 Residential Real Estate 853,294 892,495 - 964,590 9,903 9,903 Installment and Other Consumer 55,734 55,734 - 321,175 4,475 4,475 $ 4,637,593 $ 4,880,273 $ - $ 7,510,986 $ 74,587 $ 74,587 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 8,094,556 $ 8,098,395 $ 1,771,537 $ 2,959,495 $ 17,742 $ 17,742 CRE Owner-Occupied CRE 322,148 322,148 57,398 385,269 - - Commercial Construction, Land Development, and Other Land 4,353,817 4,353,817 577,611 1,022,930 - - Other Non Owner-Occupied CRE 239,600 239,600 58,910 47,920 - - Direct Financing Leases 1,566,143 1,566,143 848,919 841,733 36,303 36,303 Residential Real Estate 807,886 882,018 289,112 573,211 11,675 11,675 Installment and Other Consumer 50,356 50,356 39,481 40,384 527 527 $ 15,434,506 $ 15,512,477 $ 3,642,968 $ 5,870,942 $ 66,247 $ 66,247 Total Impaired Loans/Leases: C&I $ 8,936,451 $ 9,049,995 $ 1,771,537 $ 5,817,838 $ 34,490 $ 34,490 CRE Owner-Occupied CRE 322,148 415,922 57,398 697,511 - - Commercial Construction, Land Development, and Other Land 4,353,817 4,353,817 577,611 1,022,930 - - Other Non Owner-Occupied CRE 1,436,149 1,436,149 58,910 1,370,574 - - Direct Financing Leases 3,256,264 3,256,264 848,919 2,573,715 79,764 79,764 Residential Real Estate 1,661,180 1,774,513 289,112 1,537,801 21,578 21,578 Installment and Other Consumer 106,090 106,090 39,481 361,559 5,002 5,002 $ 20,072,099 $ 20,392,750 $ 3,642,968 $ 13,381,928 $ 140,834 $ 140,834 Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management’s current estimates. 2015 Classes of Loans/Leases Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Recognized for Cash Payments Received Impaired Loans/Leases with No Specific Allowance Recorded: C&I $ 234,636 $ 346,072 $ - $ 380,495 $ 7,436 $ 7,436 CRE Owner-Occupied CRE 256,761 350,535 - 447,144 - - Commercial Construction, Land Development, and Other Land - 228,818 - 117,406 - - Other Non Owner-Occupied CRE 1,578,470 1,578,470 - 2,953,888 - - Direct Financing Leases 871,884 871,884 - 892,281 4,142 4,142 Residential Real Estate 613,486 649,064 - 1,047,001 3,929 3,929 Installment and Other Consumer 377,304 377,304 - 817,854 9,563 9,563 $ 3,932,541 $ 4,402,147 $ - $ 6,656,069 $ 25,070 $ 25,070 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 5,051,846 $ 5,055,685 $ 2,592,270 $ 4,811,046 $ - $ - CRE Owner-Occupied CRE - - - - - - Commercial Construction, Land Development, and Other Land 193,804 205,804 76,934 195,986 - - Other Non Owner-Occupied CRE - - - - - - Direct Financing Leases 829,457 829,457 306,193 474,458 - - Residential Real Estate 805,301 805,301 185,801 712,085 7,913 7,913 Installment and Other Consumer 210,438 210,438 143,089 189,539 5,693 5,693 $ 7,090,846 $ 7,106,685 $ 3,304,287 $ 6,383,114 $ 13,606 $ 13,606 Total Impaired Loans/Leases: C&I $ 5,286,482 $ 5,401,757 $ 2,592,270 $ 5,191,541 $ 7,436 $ 7,436 CRE Owner-Occupied CRE 256,761 350,535 - 447,144 - - Commercial Construction, Land Development, and Other Land 193,804 434,622 76,934 313,392 - - Other Non Owner-Occupied CRE 1,578,470 1,578,470 - 2,953,888 - - Direct Financing Leases 1,701,341 1,701,341 306,193 1,366,739 4,142 4,142 Residential Real Estate 1,418,787 1,454,365 185,801 1,759,086 11,842 11,842 Installment and Other Consumer 587,742 587,742 143,089 1,007,393 15,256 15,256 $ 11,023,387 $ 11,508,832 $ 3,304,287 $ 13,039,183 $ 38,676 $ 38,676 Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management’s current estimates. 2014 Classes of Loans/Leases Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Recognized for Cash Payments Received Impaired Loans/Leases with No Specific Allowance Recorded: C&I $ 246,308 $ 342,391 $ - $ 525,543 $ 7,599 $ 7,599 CRE Owner-Occupied CRE 67,415 163,638 - 548,464 - - Commercial Construction, Land Development, and Other Land 31,936 143,136 - 1,656,401 - - Other Non Owner-Occupied CRE 491,717 491,717 - 4,925,681 13,283 13,283 Direct Financing Leases 561,414 561,414 - 867,657 31,911 31,911 Residential Real Estate 1,060,770 1,060,770 - 1,269,213 3,032 3,032 Installment and Other Consumer 613,804 813,804 - 893,971 - - $ 3,073,364 $ 3,576,870 $ - $ 10,686,930 $ 55,825 $ 55,825 Impaired Loans/Leases with Specific Allowance Recorded: C&I $ 7,033,401 $ 8,190,495 $ 3,300,199 $ 3,159,985 $ 14,837 $ 14,837 CRE Owner-Occupied CRE 620,896 620,896 4,462 316,743 - - Commercial Construction, Land Development, and Other Land 337,076 577,894 12,087 528,564 - - Other Non Owner-Occupied CRE 5,884,343 6,583,934 1,153,471 4,240,000 - - Direct Financing Leases 777,858 777,858 356,996 514,144 - - Residential Real Estate 727,958 763,537 151,663 538,678 2,967 2,967 Installment and Other Consumer 494,229 494,229 265,795 386,009 3,564 3,564 $ 15,875,761 $ 18,008,843 $ 5,244,673 $ 9,684,123 $ 21,368 $ 21,368 Total Impaired Loans/Leases: C&I $ 7,279,709 $ 8,532,886 $ 3,300,199 $ 3,685,528 $ 22,436 $ 22,436 CRE Owner-Occupied CRE 688,311 784,534 4,462 865,207 - - Commercial Construction, Land Development, and Other Land 369,012 721,030 12,087 2,184,965 - - Other Non Owner-Occupied CRE 6,376,060 7,075,651 1,153,471 9,165,681 13,283 13,283 Direct Financing Leases 1,339,272 1,339,272 356,996 1,381,801 31,911 31,911 Residential Real Estate 1,788,728 1,824,307 151,663 1,807,891 5,999 5,999 Installment and Other Consumer 1,108,033 1,308,033 265,795 1,279,980 3,564 3,564 $ 18,949,125 $ 21,585,713 $ 5,244,673 $ 20,371,053 $ 77,193 $ 77,193 Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management’s current estimates. For C&I and CRE loans, the Company’s credit quality indicator is internally assigned risk ratings. Each commercial loan is assigned a risk rating upon origination. The risk rating is reviewed every 15 1 For direct financing leases, residential real estate loans, and installment and other consumer loans, the Company’s credit quality indicator is performance determined by delinquency status. Delinquency status is updated daily by the Company’s loan system. For each class of financing receivable, the following presents the recorded investment by credit quality indicator as of December 31, 2016 2015: 2016 CRE Non Owner-Occupied Internally Assigned Risk Rating C&I Owner-Occupied CRE Commercial Construction, Land Development, and Other Land Other CRE Total As a % of Total Pass (Ratings 1 through 5) $ 796,568,451 $ 314,447,662 $ 158,108,465 $ 582,854,048 $ 1,851,978,626 96.40 % Special Mention (Rating 6) 6,305,772 7,559,380 1,780,000 4,437,122 20,082,274 1.05 % Substandard (Rating 7) 24,763,040 10,380,369 5,261,026 8,630,578 49,035,013 2.55 % Doubtful (Rating 8) - 210 - - 210 0.00 % $ 827,637,263 $ 332,387,621 $ 165,149,491 $ 595,921,748 $ 1,921,096,123 100.00 % 2016 Delinquency Status * Direct Financing Leases Residential Real Estate Installment and Other Consumer Total As a % of Total Performing $ 161,749,710 $ 227,277,070 $ 81,449,104 $ 470,475,884 98.77 % Nonperforming 3,669,650 1,956,034 216,591 5,842,275 1.23 % $ 165,419,360 $ 229,233,104 $ 81,665,695 $ 476,318,159 100.00 % 2015 CRE Non Owner-Occupied Internally Assigned Risk Rating C&I Owner-Occupied CRE Commercial Construction, Land Development, and Other Land Other CRE Total As a % of Total Pass (Ratings 1 through 5) $ 616,200,797 $ 238,119,608 $ 46,929,876 $ 406,027,442 $ 1,307,277,723 95.24 % Special Mention (Rating 6) 18,031,845 8,630,658 1,780,000 8,846,286 37,288,789 2.72 % Substandard (Rating 7) 13,927,250 5,772,898 373,968 7,888,029 27,962,145 2.04 % Doubtful (Rating 8) - - - - - 0.00 % $ 648,159,892 $ 252,523,164 $ 49,083,844 $ 422,761,757 $ 1,372,528,657 100.00 % 2015 Delinquency Status * Direct Financing Leases Residential Real Estate Installment and Other Consumer Total As a % of Total Performing $ 171,951,421 $ 169,013,743 $ 73,081,751 $ 414,046,913 99.11 % Nonperforming 1,704,184 1,418,787 587,742 3,710,715 0.89 % $ 173,655,605 $ 170,432,530 $ 73,669,493 $ 417,757,628 100.00 % *Performing = loans/leases accruing and less than 90 90 As of December 31, 2016 2015, $8,647,007 $2,587,413, For each class of financing receivable, the following presents the number and recorded investment of TDRs, by type of concession, that were restructured during the years ended December 31, 2016 2015. December 31, 2016 2015, 2016 Classes of Loans/Leases Number of Loans / Leases Pre- Modification Recorded Investment Post- Modification Recorded Investment Specific Allowance CONCESSION - Extension of Maturity C&I 3 $ 247,476 $ 247,476 $ 60,767 Direct Financing Leases 4 410,653 410,653 38,476 Residential Real Estate 1 277,092 277,092 187,492 8 $ 935,221 $ 935,221 $ 286,735 CONCESSION - Significant Payment Delay C&I 7 $ 4,562,427 $ 4,562,427 $ 813,041 Direct Financing Leases 13 1,149,493 1,149,493 125,940 20 $ 5,711,920 $ 5,711,920 $ 938,981 CONCESSION - Interest Rate Adjusted Below Market CRE - Other 1 $ 1,233,740 $ 1,233,740 $ - 1 $ 1,233,740 $ 1,233,740 $ - TOTAL 29 $ 7,880,881 $ 7,880,881 $ 1,225,716 2015 Classes of Loans/Leases Number of Loans/Leases Pre- Modification Recorded Investment Post- Modification Recorded Investment Specific Allowance CONCESSION - Interest rate adjusted below market Installment and Other Consumer 2 $ 37,979 $ 37,979 $ 12,013 2 $ 37,979 $ 37,979 $ 12,013 TOTAL 2 $ 37,979 $ 37,979 $ 12,013 Of the TDRs reported above, eight $2,008,424 December 31, 2016 one $14,027 December 31, 2015. For the years ended December 31, 2016 2015, no 12 90 Not included in the table above, the Company had three 2016, $341,952. 2015. Loans are made in the normal course of business to directors, executive officers, and their related interests. The terms of these loans, including interest rates and collateral, are similar to those prevailing for comparable transactions with other persons. An analysis of the changes in the aggregate committed amount of loans greater than or equal to $60,000 December 31, 2016, 2015, 2014, 2016 2015 2014 Balance, beginning $ 42,012,313 $ 42,469,111 $ 39,192,966 Net increase (decrease) due to change in related parties 19,945,960 (3,606,418 ) 1,040,278 Advances 4,806,616 19,040,675 13,284,475 Repayments (5,155,913 ) (15,891,055 ) (11,048,608 ) Balance, ending $ 61,608,976 $ 42,012,313 $ 42,469,111 The Company’s loan portfolio includes a geographic concentration in the Midwest. Additionally, the loan portfolio included a concentration of loans in certain industries as of December 31, 2016 2015 2016 2015 Industry Name Balance Percentage of Total Loans/Leases Balance Percentage of Total Loans/Leases Lessors of Non-Residential Buildings $ 359,040,649 15 % $ 311,138,005 17 % Lessors of Residential Buildings 166,036,201 7 % 91,811,101 5 % Nonresidential Property Managers 76,504,076 3 % 10,500,305 1 % Bank Holding Companies 66,069,612 3 % 55,840,984 3 % Concentrations within the leasing portfolio are monitored by equipment type – none of which represent a concentration within the total loans/leases portfolio. Within the leasing portfolio, diversification is spread among construction, manufacturing and the service industries. Geographically, the lease portfolio is diversified across all 50 |