Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Schedule of non-accrual loans

The following is a summary of the non-accrual loans as of June 30, 2015 and December 31, 2014.

June 30, 2015
Loans Receivable on Non-Accrual
Commercial	$	—
Commercial Real Estate:
Commercial Real Estate - Construction		—
Commercial Real Estate - Other		1,341,611
Consumer:
Consumer Real Estate		458,609
Consumer - Other		19,274
Total	$	1,819,494

December 31, 2014
Loans Receivable on Non-Accrual
Commercial	$	—
Commercial Real Estate:
Commercial Real Estate - Construction		—
Commercial Real Estate - Other		882,413
Consumer:
Consumer Real Estate		—
Consumer - Other		—
Total	$	882,413

Schedule of delinquent loans, excluding mortgage loans held for sale

The following is a schedule of our delinquent loans, excluding mortgage loans held for sale, as of June 30, 2015 and December 31, 2014.

June 30, 2015
	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Loans Receivable		Recorded Investment > 90 Days and Accruing
Commercial	$	153,526		1,068,501		99,737		1,321,764		48,209,667		49,531,431		99,737
Commercial Real Estate:
Commercial Real Estate -Construction		—		—		—		—		1,466,902		1,466,902		—
Commercial Real Estate -Other		708,974		—		1,247,964		1,956,938		119,599,453		121,556,391		394,016
Consumer:
Consumer- Real Estate		69,558		—		537,012		606,570		62,524,504		63,131,074		—
Consumer-Other		75,665		2,152		19,274		97,091		4,673,457		4,770,548		78,402
Total	$	1,007,723		1,070,653		1,903,987		3,982,363		236,473,983		240,456,346		572,155

December 31, 2014
	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Loans Receivable		Recorded Investment > 90 Days and Accruing
Commercial	$	557,608		2,474		—		560,082		49,339,495		49,899,577		—
Commercial Real Estate:
Commercial Real Estate -Construction		—		—		—		—		1,511,702		1,511,702		—
Commercial Real Estate -Other		229,607		589,705		1,665,673		2,484,985		113,254,697		115,739,682		1,274,119
Consumer:
Consumer- Real Estate		—		—		—		—		62,054,983		62,054,983		—
Consumer-Other		17,468		—		—		17,468		4,894,380		4,911,848		—
Total	$	804,683		592,179		1,665,673		3,062,535		231,055,257		234,117,792		1,274,119

Schedule of loans individually evaluated and considered impaired

As of June 30, 2015 and December 31, 2014, loans individually evaluated and considered impaired are presented in the following table:

Impaired and Restructured Loans For June 30, 2015
With no related allowance recorded:	Unpaid Principal Balance		Recorded   Investment		Related Allowance
Commercial	$	793,234	$	793,234	$	—
Commercial Real Estate		3,293,454		3,314,454		—
Consumer Real Estate		522,364		522,364		—
Consumer Other		7,530		7,530		—
Total		4,616,582		4,637,582		—
With an allowance recorded:
Commercial		1,113,947		1,113,947		637,115
Commercial Real Estate		992,311		992,311		193,773
Consumer Real Estate		1,196,546		1,196,546		357,807
Consumer Other		162,594		162,594		162,594
Total		3,465,398		3,465,398		1,351,289
Grand Total	$	8,081,980	$	8,102,980	$	1,351,289

Impaired and Restructured Loans As of December 31, 2014
With no related allowance recorded:	Unpaid Principal Balance		Recorded   Investment		Related Allowance
Commercial	$	634,865	$	634,865	$	—
Commercial Real Estate		3,349,844		3,349,844		—
Consumer Real Estate		351,140		351,140		—
Consumer Other		—		—		—
Total		4,335,849		4,335,849		—
With an allowance recorded:
Commercial		1,157,560		1,157,560		784,561
Commercial Real Estate		846,008		846,008		209,189
Consumer Real Estate		672,163		672,163		250,590
Consumer Other		39,547		39,547		39,547
Total		2,715,278		2,715,278		1,283,887
Grand Total	$	7,051,127	$	7,051,127	$	1,283,887

The following table presents by class, information related to the average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2015 and 2014, respectively.

Average Recorded Investment and Interest Income Impaired and Restructured Loans For the Three Months Ended
	June 30, 2015				June 30, 2014
With no related allowance recorded:	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
Commercial	$	811,606	$	11,026	$	350,828	$	13,259
Commercial   Real Estate		3,303,936		42,405		2,210,822		38,263
Consumer   Real Estate		522,399		5,133		272,981		2,712
Consumer Other		7,658		34		—		—
Total		4,645,599		58,598		2,834,631		54,234
With an allowance recorded:
Commercial		1,141,727		13,551		1,144,263		14,423
Commercial Real Estate		1,013,311		12,885		1,600,710		20,468
Consumer Real Estate		1,200,173		7,862		691,458		7,000
Consumer Other		157,602		2,154		39,574		636
Total		3,512,813		36,452		3,476,005		42,527
Grand Total	$	8,158,412	$	95,050	$	6,310,636	$	96,761

Average Recorded Investment and Interest Income Impaired and Restructured Loans For the Six Months Ended
	June 30, 2015				June 30, 2014
With no related allowance recorded:	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
Commercial	$	822,849	$	25,578	$	353,509	$	22,440
Commercial   Real Estate		3,318,009		88,205		2,228,199		63,794
Consumer   Real Estate		522,429		10,518		273,015		5,526
Consumer   Other		7,574		84		—		—
Total		4,670,861		124,385		2,854,723		91,760
With an allowance recorded:
Commercial		1,146,928		26,392		1,158,183		27,981
Commercial   Real Estate		1,015,819		25,029		1,603,108		36,674
Consumer   Real Estate		1,203,183		23,396		695,775		15,639
Consumer   Other		159,093		4,858		40,428		1,109
Total		3,525,023		79,675		3,497,494		81,403
Grand Total	$	8,195,884	$	204,060	$	6,352,217	$	173,163

Schedule of credit risks by category and internally assigned grades

The following table illustrates credit risks by category and internally assigned grades at June 30, 2015 and December 31, 2014.

June 30, 2015
	Commercial		Commercial   Real Estate   Construction		Commercial   Real Estate   Other		Consumer   Real Estate		Consumer   Other		Total
Pass	$	45,101,830	$	1,026,385	$	114,667,484	$	59,472,984	$	4,309,083	$	224,577,766
Watch		2,207,589		—		1,067,875		1,681,385		320,759		5,277,608
OAEM		357,790		440,517		1,471,308		212,021		16,356		2,497,992
Sub-Standard		1,864,222		—		4,349,724		1,764,684		124,350		8,102,980
Doubtful		—		—		—		—		—		—
Loss		—		—		—		—		—		—
Total	$	49,531,431	$	1,466,902	$	121,556,391	$	63,131,074	$	4,770,548	$	240,456,346

December 31, 2014
	Commercial		Commercial   Real Estate   Construction		Commercial   Real Estate   Other		Consumer   Real Estate		Consumer   Other		Total
Pass	$	45,154,058	$	1,062,185	$	108,568,274	$	58,744,677	$	4,512,912	$	218,042,106
Watch		2,401,715		—		1,697,883		1,818,923		276,557		6,195,078
OAEM		551,380		449,517		1,378,436		467,482		82,832		2,929,647
Sub-Standard		1,792,424		—		4,095,089		1,023,901		39,547		6,950,961
Doubtful		—		—		—		—		—		—
Loss		—		—		—		—		—		—
Total	$	49,899,577	$	1,511,702	$	115,739,682	$	62,054,983	$	4,911,848	$	234,117,792

Schedule of changes in the allowance and an allocation of the allowance by loan category

The following table sets forth the changes in the allowance and an allocation of the allowance by loan category for the three and six months ended June 30, 2015 and at December 31, 2014. The allocation of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in our judgment, should be charged-off. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for current economic factors described above.

For the Three Months Ended
June 30, 2015
	Commercial			Commercial   Real Estate			Consumer   Real Estate		Consumer   Other			Total
Allowance for Loan Losses
Beginning Balance March 31, 2015	$	1,100,802			1,191,722			895,954		145,610			3,334,088
Charge-offs		—			—			—		(20,734	)		(20,734	)
Recoveries		—			24,164			—		240			24,404
Provisions		(56,473	)		(29,843	)		61,493		94,823			70,000
Ending Balance		1,044,329			1,186,043			957,447		219,939			3,407,758

As of and for the Six Months Ended
June 30, 2015
	Commercial			Commercial   Real Estate			Consumer   Real Estate		Consumer   Other			Total
Allowance for Loan Losses
Beginning Balance December 31, 2014	$	1,211,130		$	1,112,387		$	906,255	$	105,076		$	3,334,848
Charge-offs		—			(21,000	)		—		(20,734	)		(41,734	)
Recoveries		—			39,164			—		480			39,644
Provisions		(166,801	)		55,492			51,192		135,117			75,000
Ending Balance		1,044,329			1,186,043			957,447		219,939			3,407,758
Allowance for Loan Losses Ending Balances:
Individually evaluated for impairment		637,115			193,773			357,807		162,594			1,351,289
Collectively evaluated for impairment		407,214			992,270			599,640		57,345			2,056,469
Investment in Loans Ending Balance:
Individually evaluated for impairment		1,907,180			4,285,765			1,718,911		170,124			8,081,980
Collectively evaluated for impairment	$	47,624,251		$	118,737,528		$	61,412,163	$	4,600,424		$	232,374,366

For the Three Months Ended
June 30, 2014
	Commercial			Commercial   Real Estate		Consumer   Real Estate		Consumer   Other			Total
Allowance for Loan Losses
Beginning Balance March 31, 2014	$	1,508,362		$	1,197,893	$	524,598	$	92,712		$	3,323,565
Charge-offs		—			—		—		(2,064	)		(2,064	)
Recoveries		—			12,000		—		26,307			38,307
Provisions		(231,116	)		107,557		172,063		(28,504	)		20,000
Ending Balance		1,277,246			1,317,450		696,661		88,451			3,379,808

As of and for the Six Months Ended
June 30, 2014
	Commercial			Commercial   Real Estate			Consumer   Real Estate		Consumer   Other			Total
Allowance for Loan Losses
Beginning Balance December 31, 2013	$	1,448,804		$	1,064,363		$	694,950	$	84,160		$	3,292,277
Charge-offs		—			(3,953	)		—		(4,129	)		(8,082	)
Recoveries		—			19,100			—		26,513			45,613
Provisions		(171,558	)		237,940			1,711		(18,093	)		50,000
Ending Balance		1,277,246			1,317,450			696,661		88,451			3,379,808
Allowance for Loan Losses Ending Balances:
Individually evaluated for impairment		859,620			578,746			174,522		38,319			1,651,207
Collectively evaluated for impairment		417,626			738,704			522,139		50,132			1,728,601
Investment in Loans Ending Balance:
Individually evaluated for impairment		2,120,748			3,211,127			962,481		38,319			6,332,675
Collectively evaluated for impairment	$	50,566,948		$	110,140,232		$	59,298,288	$	4,258,151		$	224,263,619

December 31, 2014
	Commercial			Commercial   Real Estate			Consumer   Real Estate		Consumer   Other			Total
Allowance for Loan Losses
Beginning Balance December 31, 2013	$	1,448,804		$	1,064,363		$	694,950	$	84,160		$	3,292,277
Charge-offs		(83,042	)		(15,834	)		—		(14,154	)		(113,030	)
Recoveries		—			46,000			—		27,101			73,101
Provisions		(154,632	)		17,858			211,305		7,969			82,500
Ending Balance		1,211,130			1,112,387			906,255		105,076			3,334,848
Allowance for Loan Losses Ending Balances:
Individually evaluated for impairment		784,561			209,189			250,590		39,547			1,283,887
Collectively evaluated for impairment		426,569			903,198			655,665		65,529			2,050,961
Investment in Loans Ending Balance:
Individually evaluated for impairment		1,792,425			4,195,852			1,023,303		39,547			7,051,127
Collectively evaluated for impairment	$	48,107,152		$	113,055,532		$	61,031,680	$	4,872,301		$	227,066,665