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LOANS AND ALLOWANCE (Tables)
 6 Months Ended
Jun. 30, 2013
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of breakdown of loans
 
June 30, 2013
December 31, 2012
(Unaudited)
(In Thousands)
Construction / Land
 $ 26,493 $ 26,506
One-to-four family residential
 144,745 137,402
Multi-family residential
 17,828 19,988
Nonresidential and agricultural land
 103,640 106,433
Commercial
 20,853 19,549
Consumer
 4,496 4,906
318,055 314,784
Unamortized deferred loan costs
 493 484
Undisbursed loans in process
 (20,146 ) (6,186 )
Allowance for loan losses
 (4,036 ) (3,564 )
Total loans
 $ 294,366 $ 305,518
Schedule of the activity in the allowance for loan losses
 
Construction / Land
1-4 Family
Multi-Family
Nonresidential and Agricultural Land
Commercial
Consumer
Total
(Unaudited; In Thousands)
Three Months Ended June 30, 2013
Balances at beginning of period:
 $ 757 $ 1,534 $ 278 $ 1,179 $ 135 $ 1 $ 3,884
Provision for losses
 (84 ) 305 19 (97 ) 144 31 318
Loans charged off
 - (21 ) - - (138 ) (43 ) (202 )
Recoveries on loans
 - 3 - 20 - 13 36
Balances at end of period
 $ 673 $ 1,821 $ 297 $ 1,102 $ 141 $ 2 $ 4,036
                     
Six Months Ended
June 30, 2013
Balances at beginning of period
 $ 649 $ 1,423 $ 281 $ 1,077 $ 132 $ 2 $ 3,564
Provision for losses
 67 482 16 (114 ) 146 39 636
Loans charged off
 (61 ) (87 ) - (175 ) (137 ) (74 ) (534 )
Recoveries on loans
 18 3 - 314 - 35 370
Balances at end of period
 $ 673 $ 1,821 $ 297 $ 1,102 $ 141 $ 2 $ 4,036
                     
As of June 30, 2013
Allowance for losses:
Individually evaluated for impairment:
 $ 196 $ 526 $ 196 $ 97 $ 91 $ - $ 1,106
Collectively evaluated for impairment:
 477 1,295 101 1,005 50 2 2,930
Loans acquired with a deteriorated credit quality:
 - - - - - - -
Balances at end of period
 673 1,821 297 1,102 141 2 4,036
                      
Loans:
Individually evaluated for impairment:
 $ 4,530 $ 5,491 $ 1,088 $ 4,127 $ 377 $ 11 $ 15,624
Collectively evaluated for impairment:
 21,625 137,814 16,255 98,814 20,472 4,462 299,442
Loans acquired with a deteriorated credit quality:
 338 1,440 485 699 4 23 2,989
Balances at end of period
 26,493 144.745 17,828 103,640 20,853 4,496 318,055
 
 
Construction / Land
1-4 Family
Multi-Family
Nonresidential and Agricultural Land
Commercial
Consumer
Total
(In Thousands)
Three Months Ended
June 30, 2012
Balances at beginning of period:
 $ 430 $ 1,472 $ 17 $ 1,226 6 $ 27 $ 3,178
Provision for losses
 304 (115 ) 266 (135 ) 2 - 322
Loans charged off
 - (46 ) - - - (19 ) (65 )
Recoveries on loans
 - 79 - - - 7 86
Balances at end of period
 $ 734 $ 1,390 $ 283 $ 1,091 $ 8 $ 15 $ 3,521
                          
Six Months Ended
June 30, 2012
Balances at beginning of period:
 $ 1,016 $ 1,986 $ 65 $ 822 70 $ 44 $ 4,003
Provision for losses
 54 286 218 298 (62 ) 2 796
Loans charged off
 (340 ) (962 ) - (29 ) - (44 ) (1,375 )
Recoveries on loans
 4 80 - - - 13 97
Balances at end of period
 $ 734 $ 1,390 $ 283 $ 1,091 $ 8 $ 15 $ 3,521
 
 
Construction / Land
1-4 Family
Multi-Family
Nonresidential and Agricultural Land
Commercial
Consumer
Total
(In Thousands)
As of December 31, 2012
Allowance for losses:
Individually evaluated for impairment:
 $ 195 $ 310 $ 196 $ - $ 93 $ - $ 794
Collectively evaluated for impairment:
 453 1,113 85 1,078 40 1 2,770
Loans acquired with a deteriorated credit quality:
 - - - - - - -
Balances at end of period
 $ 648 $ 1,423 $ 281 $ 1,078 $ 133 $ 1 $ 3,564
                                      
Loans:
Individually evaluated for impairment:
 $ 4,752 $ 4,517 $ 1,104 $ 3,278 $ 565 $ 12 $ 14,228
Collectively evaluated for impairment:
 21,453 131,465 18,433 102,292 18,946 4,864 297,453
Loans acquired with a deteriorated credit quality:
 301 1,420 451 863 38 30 3,103
Balances at end of period
 $ 26,506 $ 137,402 $ 19,988 $ 106,433 $ 19,549 $ 4,906 $ 314,784
Schedule of credit risk profile of the Corporation's loan portfolio based on rating category
 
June 30, 2013
Total Portfolio
Pass
Special Mention
Substandard
Doubtful
(Unaudited; In Thousands)
Construction / Land
 $ 26,493 $ 21,739 $ 121 $ 4,633 $ -
1-4 family residential
 144,745 132,333 4,416 7,075 921
Multi-family residential
 17,828 16,208 44 1,576 -
Nonresidential and agricultural land
 103,640 93,413 4,651 5,024 552
Commercial
 20,853 20,031 12 732 78
Consumer
 4,496 4,442 2 52 -
Total Loans
 $ 318,055 $ 288,166 $ 9,246 $ 19,092 $ 1,551
 
 
 
 
 
December 31, 2012
Total Portfolio
Pass
Special Mention
Substandard
Doubtful
(In Thousands)
Construction / Land
 $ 26,506 $ 20,952 $ 314 $ 4,909 $ 331
1-4 family residential
 137,402 123,705 6,597 5,885 1,215
Multi-family residential
 19,988 17,546 186 2,256 -
Nonresidential and agricultural land
 106,433 97,307 4,931 2,793 1,402
Commercial
 19,549 18,869 15 414 251
Consumer
 4,906 4,863 14 29 -
Total Loans
 $ 314,784 $ 283,242 $ 12,057 $ 16,286 $ 3,199
Schedule of Corporation's loan portfolio aging analysis
 
June 30, 2013
30-59 Days Past Due
60-89 Days Past Due
Greater than 90 Days
Total Past Due
Current
Purchased Credit Impaired Loans
Total Loans Receivable
(Unaudited; In Thousands)
Construction / Land
 $ 7 $ 85 $ 49 $ 141 $ 26,014 $ 338 $ 26,493
1-4 family residential
 772 602 2,303 3,677 139,628 1,440 144,745
Multi-family residential
 - - - - 17,343 485 17,828
Nonresidential and agricultural land
 763 71 909 1,743 101,198 699 103,640
Commercial
 85 32 470 587 20,262 4 20,853
Consumer
 52 10 28 90 4,383 23 4,496
$ 1,679 $ 800 $ 3,759 $ 6,238 $ 308,828 $ 2,989 $ 318,055
 
 
December 31, 2012
30-59 Days Past Due
60-89 Days Past Due
Greater than 90 Days
Total Past Due
Current
Purchased Credit Impaired Loans
Total Loans Receivable
(In Thousands)
Construction / Land
 $ 63 $ - $ 556 $ 619 $ 25,586 $ 301 $ 26,506
1-4 family residential
 1,347 768 1,408 3,523 132,459 1,420 137,402
Multi-family residential
 - - - - 19,537 451 19,988
Nonresidential and agricultural land
 276 - 753 1,029 104,541 863 106,433
Commercial
 100 - 251 351 19,160 38 19,549
Consumer
 36 - 2 38 4,838 30 4,906
$ 1,822 $ 768 $ 2,970 $ 5,560 $ 306,121 $ 3,103 $ 314,784
 
Schedule of Corporation's nonaccrual loans
 
June 30, 2013
December 31, 2012
(Unaudited)
(In Thousands)
Construction / Land
 $ 4,492 $ 4,798
One-to-four family residential
 3,257 2,687
Multi-family residential
 1,088 1,104
Nonresidential and agricultural land
 2,419 1,678
Commercial
 379 567
Consumer
 28 16
Total nonaccrual loans
 $ 11,663 $ 10,850
                                                         
Nonaccrual loans as a percent of total loans
 3.67 % 3.45 %
 
Schedule of principal balances and specific valuation allocations for impaired loans
The following tables present information pertaining to the principal balances and specific valuation allocations for impaired loans, as of June 30, 2013 (unaudited; in thousands):
 
Impaired loans without a specific allowance:
Recorded Investment
Unpaid Principal Balance
Specific Allowance
Construction / Land
 $ 2,653 $ 2,842 $ -
1-4 family residential
 3,897 3,969 -
Multi-family residential
 52 54 -
Nonresidential and agricultural land
 3,213 3,740 -
Commercial
 199 370 -
Consumer
 11 11 -
$ 10,025 $ 10,986 $ -
 
 
Impaired loans with a specific allowance:
Recorded Investment
Unpaid Principal Balance
Specific Allowance
Construction / Land
 $ 1,877 $ 1,891 $ 196
1-4 family residential
 1,594 1,612 526
Multi-family residential
 1,036 1,052 196
Nonresidential and agricultural land
 914 914 97
Commercial
 178 186 91
Consumer
 - - -
$ 5,599 $ 5,655 $ 1,106
 
 
Total impaired loans:
Recorded Investment
Unpaid Principal Balance
Specific Allowance
Construction / Land
 $ 4,530 $ 4,733 $ 196
1-4 family residential
 5,491 5,581 526
Multi-family residential
 1,088 1,106 196
Nonresidential and agricultural land
 4,127 4,654 97
Commercial
 377 556 91
Consumer
 11 11 -
$ 15,624 $ 16,641 $ 1,106

The following tables present information pertaining to the principal balances and specific valuation allocations for impaired loans, as of December 31, 2012:
 
Impaired loans without a specific allowance:
Recorded Investment
Unpaid Principal Balance
Specific
Allowance
Construction / Land
 $ 2,870 $ 3,379 $ -
1-4 family residential
 3,562 3,612 -
Multi-family residential
 53 54 -
Nonresidential and agricultural land
 3,278 4,439 -
Commercial
 386 418 -
Consumer
 12 12 -
$ 10,161 $ 11,914 $ -
 
 
Impaired loans with a specific allowance:
Recorded Investment
Unpaid Principal Balance
Specific
Allowance
Construction / Land
 $ 1,882 $ 1,882 $ 195
1-4 family residential
 955 957 310
Multi-family residential
 1,051 1,061 196
Nonresidential and agricultural land
 - - -
Commercial
 179 186 93
Consumer
 - - -
$ 4,067 $ 4,086 $ 794
 
 
Total impaired loans:
Recorded Investment
Unpaid Principal Balance
Specific
Allowance
Construction / Land
 $ 4,752 $ 5,261 $ 195
1-4 family residential
 4,517 4,569 310
Multi-family residential
 1,104 1,115 196
Nonresidential and agricultural land
 3,278 4,439 -
Commercial
 565 604 93
Consumer
 12 12 -
$ 14,228 $ 16,000 $ 794
 
Schedule of information related to the average recorded investment and interest income recognized on impaired loans
 
Six Months Ended
June 30, 2013
Six Months Ended
June 30, 2012
Average Investment
Interest Income Recognized
Average Investment
Interest Income Recognized
(Unaudited; In Thousands)
Construction / Land
 $ 4,597 $ 72 $ 4,604 $ 1
1-4 family residential
 4,770 90 4,825 52
Multi-family residential
 1,090 13 2,534 50
Nonresidential and agricultural land
 3,745 136 3,703 33
Commercial
 480 20 456 17
Consumer
 11 1 16 -
$ 14,693 $ 332 $ 16,138 $ 153
 
Three Months Ended
June 30, 2013
Three Months Ended
June 30, 2012
Average Investment
Interest Income Recognized
Average Investment
Interest Income Recognized
(Unaudited; In Thousands)
Construction / Land
 $ 4,834 $ 67 $ 4,627 $ 1
1-4 family residential
 5,243 58 3,793 31
Multi-family residential
 1,088 13 3,086 27
Nonresidential and agricultural land
 4,726 120 3,741 15
Commercial
 417 20 515 9
Consumer
 11 - 15 -
$ 16,319 $ 278 $ 15,777 $ 83
Schedule of troubled debt restructurings by class
 
For the Six-Month Period Ended
June 30, 2013
For the Six-Month Period Ended
June 30, 2012
# of Loans
Pre-Modification Recorded Balance
Post-Modification Recorded Balance
# of Loans
Pre-Modification Recorded Balance
Post-Modification Recorded Balance
(Unaudited; Dollars In Thousands)
Construction / Land
 3 $ 103 $ 272 - $ - $ -
One-to-four family residential
 8 416 434 6 1,103 1,169
Multi-family residential
 - - - 1 1,068 1,083
Nonresidential and agricultural land
 2 935 935 1 40 40
Commercial
 4 37 98 3 169 174
Consumer
 - - - - - -
17 $ 1,491 $ 1,739 11 $ 2,380 $ 2,466
 
 
For the Three-Month Period Ended
June 30, 2013
For the Three-Month Period Ended
June 30, 2012
# of Loans
Pre-Modification Recorded Balance
Post-Modification Recorded Balance
# of Loans
Pre-Modification Recorded Balance
Post-Modification Recorded Balance
(Unaudited;DollarsInThousands)
Construction / Land
 1 $ 103 $ 101 - $ - $ -
One-to-four family residential
 2 176 190 2 63 71
Multi-family residential
 - - - - - -
Nonresidential and agricultural land
 - - - - - -
Commercial
 - - - 1 104 104
Consumer
 - - - - - -
3 $ 279 $ 291 3 $ 167 $ 175
Schedule of troubled debt restructurings by type of modification
 
June 30, 2013
Interest Only
Term
Combination
Total
Modifications
Construction / Land
 $ - $ 101 $ 171 $ 272
One-to-four family residential
 - 204 230 434
Multi-family residential
 - - - -
Nonresidential and agricultural land
 - - 935 935
Commercial
 - - 98 98
Consumer
 - - - -
$ - $ 305 $ 1,434 $ 1,739
 
June 30, 2012
Interest Only
Term
Combination
Total
Modifications
Construction / Land
 $ - $ - $ - $ -
One-to-four family residential
 - 529 559 1,088
Multi-family residential
 - 1,075 - 1,075
Nonresidential and agricultural land
 - - - -
Commercial
 - - 135 135
Consumer
 - - - -
$ - $ 1,604 $ 694 $ 2,298