XML 64 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
LOANS AND ALLOWANCE (Tables)
 9 Months Ended
Sep. 30, 2014
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of breakdown of loans
 
   
September 30, 2014
    
December 31, 2013
  
   
(Unaudited)
      
   
 
(In Thousands)
  
Construction/Land
  
$
27,134
    
$
24,307
  
One-to-four family residential
    
 
135,018
      
 
137,298
  
Multi-family residential
    
 
18,631
      
 
16,408
  
Nonresidential
    
 
117,828
      
 
118,946
  
Commercial
    
 
23,499
      
 
24,741
  
Consumer
    
 
4,121
      
 
4,326
  
     
 
326,231
      
 
326,026
  
Unamortized deferred loan costs
    
 
509
      
 
487
  
Undisbursed loans in process
    
(633
)
    
(5,775
)
Allowance for loan losses
    
(3,940
)
    
(4,510
)
Total loans
  
$
322,167
    
$
316,228
  
 
Schedule of the activity in the allowance for loan losses
 
   
 
Construction/
Land
    
 
1-4 Family
    
 
Multi-Family
    
 
Nonresidential
    
 
Commercial
    
 
Consumer
    
 
Total
  
   
 
(Unaudited; In Thousands)
 
  
Three Months Ended September 30, 2014
Balances at beginning of period:
 
  
$
676
    
$
1,391
    
$
303
    
$
1,232
    
$
152
    
$
8
    
$
3,762
  
Provision for losses
    
(90
)
    
290
 
      
(18
)
    
(36
)
    
(26
)
    
29
 
      
149
 
  
Loans charged off
    
-
 
      
(9
)
    
-
 
      
(20
)
    
-
 
      
(46
)
    
(75
)
Recoveries on loans
    
77
 
      
2
 
      
-
 
      
1
 
      
5
 
      
19
 
      
104
 
  
Balances at end of period
 
  
$
663
    
$
1,674
    
$
285
    
$
1,177
    
$
131
    
$
10
    
$
3,940
  
 
Nine Months Ended September 30, 2014
Balances at beginning of period:
 
  
$
676
    
$
1,749
    
$
404
    
$
1,470
    
$
189
    
$
22
    
$
4,510
  
Provision for losses
    
(90
)
    
513
 
      
392
 
      
(439
)
    
(77
)
    
48
 
      
347
 
  
Loans charged off
    
-
 
      
(629
)
    
(511
)
    
(94
)
    
-
 
      
(118
)
    
(1,352
)
Recoveries on loans
    
77
 
      
41
 
      
-
 
      
240
 
      
19
 
      
58
 
      
435
 
  
Balances at end of period
 
  
$
663
    
$
1,674
    
$
285
    
$
1,177
    
$
131
    
$
10
    
$
3,940
  
                                                         
As of September 30, 2014
Allowance for losses:
 
                                                        
Individually evaluated for impairment:
  
$
225
    
$
472
    
$
196
    
$
97
    
$
57
    
$
-
    
$
1,047
  
Collectively evaluated for impairment:
    
438
 
      
1,011
 
      
89
 
      
1,030
 
      
74
 
      
10
 
      
2,652
 
  
Loans acquired with a deteriorated credit quality:
    
-
 
      
191
 
      
-
 
      
50
 
      
-
 
      
-
 
      
241
 
  
Balances at end of period
 
  
$
663
    
$
1,674
    
$
285
    
$
1,177
    
$
131
    
$
10
    
$
3,940
  
 
Loans:
 
                                                        
Individually evaluated for impairment:
  
$
3,947
    
$
4,644
    
$
1,000
    
$
3,645
    
$
455
    
$
9
    
$
13,700
  
Collectively evaluated for impairment:
    
22,774
 
      
129,345
 
      
17,631
 
      
113,779
 
      
23,030
 
      
4,098
 
      
310,657
 
  
Loans acquired with a deteriorated credit quality:
    
413
 
      
1,029
 
      
-
 
      
404
 
      
14
 
      
14
 
      
1,874
 
  
Balances at end of period
 
  
$
27,134
    
$
135,018
    
$
18,631
    
$
117,828
    
$
23,499
    
$
4,121
    
$
326,231
  
                                                         
 
   
 
Construction/
Land
    
 
1-4 Family
    
 
Multi-Family
    
 
Nonresidential
 
    
 
Commercial
 
    
 
Consumer
 
    
 
Total
 
  
   
 
(Unaudited; In Thousands)
 
  
Three Months Ended September 30, 2013
Balances at beginning of period:
 
  
$
673
    
$
1,821
    
$
297
    
$
1,102
    
$
141
    
$
2
    
$
4,036
  
Provision for losses
    
(350
)
    
421
 
      
28
 
      
(447
)
    
191
 
      
177
 
      
20
 
  
Loans charged off
    
(38
)
    
(83
)
    
-
 
      
-
 
      
(2
)
    
(62
)
    
(185
)
Recoveries on loans
    
-
 
      
3
 
      
-
 
      
438
 
      
8
 
      
20
 
      
469
 
  
Balances at end of period
 
  
$
285
    
$
2,162
    
$
325
    
$
1,093
    
$
338
    
$
137
    
$
4,340
  
                                                         
Nine Months Ended
September 30, 2013
Balances at beginning of period:
 
  
$
649
    
$
1,423
    
$
281
    
$
1,077
    
$
132
    
$
2
    
$
3,564
  
Provision for losses
    
(283
)
    
904
 
      
44
 
      
(562
)
    
337
 
      
216
 
      
656
 
  
Loans charged off
    
(99
)
    
(170
)
    
-
 
      
(175
)
    
(139
)
    
(136
)
    
(719
)
Recoveries on loans
    
18
 
      
5
 
      
-
 
      
753
 
      
8
 
      
55
 
      
839
 
  
Balances at end of period
 
  
$
285
    
$
2,162
    
$
325
    
$
1,093
    
$
338
    
$
137
    
$
4,340
  
 
   
 
Construction/
Land
    
 
1-4 Family
    
 
Multi-Family
    
 
Nonresidential
 
    
 
Commercial
 
    
 
Consumer
 
    
 
Total
 
  
   
 
(In Thousands)
 
  
 
As of December 31, 2013
Allowance for losses:
 
                            
Individually evaluated for impairment:
  
$
195
    
$
552
    
$
196
    
$
97
    
$
68
    
$
-
    
$
1,108
  
Collectively evaluated for impairment:
    
481
 
      
1,101
 
      
110
 
      
1,305
 
      
120
 
      
21
 
      
3,138
 
  
Loans acquired with a deteriorated credit quality:
    
-
 
      
96
 
      
98
 
      
68
 
      
1
 
      
1
 
      
264
 
  
Balances at end of period
 
  
$
676
    
$
1,749
    
$
404
    
$
1,470
    
$
189
    
$
22
    
$
4,510
  
 
Loans:
 
                                                        
Individually evaluated for impairment:
  
$
4,104
    
$
5,917
    
$
1,074
    
$
4,096
    
$
372
    
$
-
    
$
15,563
  
Collectively evaluated for impairment:
    
19,866
 
      
130,100
 
      
14,834
 
      
114,145
 
      
24,354
 
      
4,307
 
      
307,606
 
  
Loans acquired with a deteriorated credit quality:
    
337
 
      
1,281
 
      
500
 
      
705
 
      
15
 
      
19
 
      
2,857
 
  
Balances at end of period
 
  
$
24,307
    
$
137,298
    
$
16,408
    
$
118,946
    
$
24,741
    
$
4,326
    
$
326,026
  
                                                         
Schedule of credit risk profile of the corporation's loan portfolio based on rating category
 
September 30, 2014
 
  
Total Portfolio
    
Pass
    
Special Mention
    
Substandard
    
Doubtful
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
27,134
    
$
23,064
    
$
31
    
$
4,039
    
$
-
  
1-4 family residential
    
135,018
      
125,553
      
3,225
      
6,127
      
113
  
Multi-family residential
    
18,631
      
17,589
      
42
      
1,000
      
-
  
Nonresidential
    
117,828
      
111,650
      
2,824
      
3,205
      
149
  
Commercial
    
23,499
      
22,886
      
93
      
455
      
65
  
Consumer
    
4,121
      
4,103
      
-
      
18
      
-
  
Total loans
  
$
326,231
    
$
304,845
    
$
6,215
    
$
14,844
    
$
327
  
 
December 31, 2013
  
Total Portfolio
    
Pass
    
Special Mention
    
Substandard
    
Doubtful
  
   
(In Thousands)
  
Construction/Land
  
$
24,307
    
$
20,023
    
$
33
    
$
4,251
    
$
-
  
1-4 family residential
    
137,298
      
124,765
      
4,144
      
7,691
      
698
  
Multi-family residential
    
16,408
      
14,798
      
44
      
1,566
      
-
  
Nonresidential
    
118,946
      
110,622
      
2,686
      
5,066
      
572
  
Commercial
    
24,741
      
24,341
      
8
      
316
      
76
  
Consumer
    
4,326
      
4,301
      
-
      
25
      
-
  
Total loans
  
$
326,026
    
$
298,850
    
$
6,915
    
$
18,915
    
$
1,346
  
 
Schedule of corporation's loan portfolio aging analysis
 
September 30, 2014
  
30-59 Days Past Due
    
60-89 Days Past Due
    
Greater than 90 Days
    
Total Past Due
    
Current
    
Purchased Credit Impaired Loans
    
Total Loans Receivables
  
   
 
(Unaudited; In Thousands)
 
  
Construction/Land
  
$
-
    
$
-
    
$
236
    
$
236
    
$
26,485
    
$
413
    
$
27,134
  
1-4 family residential
    
 
706
 
      
 
532
 
      
 
2,963
 
      
 
4,201
 
      
 
129,788
 
      
 
1,029
 
      
 
135,018
 
  
Multi-family residential
    
 
-
 
      
 
-
 
      
 
-
 
      
 
-
 
      
 
18,631
 
      
 
-
 
      
 
18,631
 
  
Nonresidential
    
 
335
 
      
 
114
 
      
 
1,818
 
      
 
2,267
 
      
 
115,157
 
      
 
404
 
      
 
117,828
 
  
Commercial
    
 
46
 
      
 
5
 
      
 
88
 
      
 
139
 
      
 
23,346
 
      
 
14
 
      
 
23,499
 
  
Consumer
    
 
41
 
      
 
4
 
      
 
9
 
      
 
54
 
      
 
4,053
 
      
 
14
 
      
 
4,121
 
  
   
$
1,128
    
$
655
    
$
5,114
    
$
6,897
    
$
317,460
    
$
1,874
    
$
326,231
  
 
December 31, 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 Receivables
  
   
 
(In Thousands)
 
  
Construction/Land
  
$
207
    
$
-
    
$
71
    
$
278
    
$
23,692
    
$
337
    
$
24,307
  
1-4 family residential
    
 
458
 
      
 
671
 
      
 
2,322
 
      
 
3,451
 
      
 
132,566
 
      
 
1,281
 
      
 
137,298
 
  
Multi-family residential
    
 
-
 
      
 
-
 
      
 
-
 
      
 
-
 
      
 
15,908
 
      
 
500
 
      
 
16,408
 
  
Nonresidential
    
 
267
 
      
 
398
 
      
 
940
 
      
 
1,605
 
      
 
116,636
 
      
 
705
 
      
 
118,946
 
  
Commercial
    
 
66
 
      
 
-
 
      
 
96
 
      
 
162
 
      
 
24,564
 
      
 
15
 
      
 
24,741
 
  
Consumer
    
 
104
 
      
 
7
 
      
 
7
 
      
 
118
 
      
 
4,189
 
      
 
19
 
      
 
4,326
 
  
   
$
1,102
    
$
1,076
    
$
3,436
    
$
5,614
    
$
317,555
    
$
2,857
    
$
326,026
  
 
Schedule of corporation's nonaccrual loans
 
   
September 30, 2014
    
December 31, 2013
  
   
 
(Unaudited)
      
         
Construction/Land
  
$
2,225
    
$
3,864
  
One-to-four family residential
    
 
4,764
      
 
3,833
  
Multi-family residential
    
 
1,000
      
 
1,073
  
Nonresidential and agricultural land
    
 
3,144
      
 
2,377
  
Commercial
    
 
255
      
 
362
  
Consumer and other
    
 
9
      
 
5
  
Total nonaccrual loans
  
$
11,397
    
$
11,514
  
Schedule of principal balances and specific valuation allocations for impaired loans
 
Impaired loans without a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
Construction/Land
  
$
2,132
    
$
2,372
    
$
-
  
1-4 family residential
    
 
2,162
      
 
2,173
      
 
-
  
Multi-family residential
    
 
-
      
 
-
      
 
-
  
Nonresidential
    
 
2,775
      
 
3,048
      
 
-
  
Commercial
    
 
352
      
 
355
      
 
-
  
Consumer
    
 
9
      
 
9
      
 
-
  
   
$
7,430
    
$
7,957
    
$
-
  
 
Impaired loans with a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
Construction/Land
  
$
1,815
    
$
1,829
    
$
225
  
1-4 family residential
    
 
2,482
      
 
2,497
      
 
472
  
Multi-family residential
    
 
1,000
      
 
1,016
      
 
196
  
Nonresidential
    
 
870
      
 
871
      
 
97
  
Commercial
    
 
103
      
 
242
      
 
57
  
Consumer
    
 
-
      
 
-
      
 
-
  
   
$
6,270
    
$
6,455
    
$
1,047
  
 

 
Total impaired loans:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific Allowance
  
Construction Land
  
$
3,947
    
$
4,201
    
$
225
  
1-4 family residential
    
 
4,644
      
 
4,670
      
 
472
  
Multi-family residential
    
 
1,000
      
 
1,016
      
 
196
  
Nonresidential
    
 
3,645
      
 
3,919
      
 
97
  
Commercial
    
 
455
      
 
597
      
 
57
  
Consumer
    
 
9
      
 
9
      
 
-
  
   
$
13,700
    
$
14,412
    
$
1,047
  

 
Schedule of information related to the average recorded investment and interest income recognized on impaired loans
 
 
Three Months Ended
September 30, 2014
    
Three Months Ended
September 30, 2013
  
 
Average Investment
    
Interest Income Recognized
    
Average Investment
    
Interest Income Recognized
  
 
(Unaudited; In Thousands)
  
   
Construction/Land
  
$
3,953
    
$
26
    
$
4,886
    
$
38
  
1-4 family residential
    
 
4,630
      
 
40
      
 
5,806
      
 
60
  
Multi-family residential
    
 
1,000
      
 
4
      
 
1,081
      
 
6
  
Nonresidential
    
 
3,975
      
 
21
      
 
5,035
      
 
36
  
Commercial
    
 
304
      
 
2
      
 
445
      
 
5
  
Consumer
    
 
-
      
 
-
      
 
11
      
 
-
  
   
$
13,862
    
$
93
    
$
17,264
    
$
145
  
 
 
Nine Months Ended
September 30, 2014
    
Nine Months Ended
September 30, 2013
  
 
Average Investment
    
Interest Income Recognized
    
Average Investment
    
Interest Income Recognized
  
 
(Unaudited; In Thousands)
  
   
Construction/Land
  
$
4,078
    
$
105
    
$
4,563
    
$
110
  
1-4 family residential
    
 
5,081
      
 
133
      
 
4,993
      
 
150
  
Multi-family residential
    
 
1,014
      
 
16
      
 
1,087
      
 
19
  
Nonresidential
    
 
3,977
      
 
85
      
 
3,855
      
 
172
  
Commercial
    
 
332
      
 
13
      
 
465
      
 
25
  
Consumer
    
 
-
      
 
-
      
 
11
      
 
1
  
   
$
14,482
    
$
352
    
$
14,974
    
$
477
  
 
Impaired loans without a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific Allowance
  
Construction/Land
  
$
2,286
    
$
2,516
    
$
-
  
1-4 family residential
    
 
4,154
      
 
4,184
      
 
-
  
Multi-family residential
    
 
52
      
 
53
      
 
-
  
Nonresidential
    
 
3,194
      
 
3,672
      
 
-
  
Commercial
    
 
237
      
 
395
      
 
-
  
   
$
9,923
    
$
10,820
    
$
-
  
 
 
Impaired loans with a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific Allowance
  
Construction/Land
  
$
1,818
    
$
1,831
    
$
195
  
1-4 family residential
    
 
1,763
      
 
1,784
      
 
552
  
Multi-family residential
    
 
1,022
      
 
1,038
      
 
196
  
Nonresidential
    
 
902
      
 
902
      
 
97
  
Commercial
    
 
135
      
 
143
      
 
68
  
   
$
5,640
    
$
5,698
    
$
1,108
  
 
 
Total impaired loans:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific Allowance
  
Construction/Land
  
$
4,104
    
$
4,347
    
$
195
  
1-4 family residential
    
 
5,917
      
 
5,968
      
 
552
  
Multi-family residential
    
 
1,074
      
 
1,091
      
 
196
  
Nonresidential
    
 
4,096
      
 
4,574
      
 
97
  
Commercial
    
 
372
      
 
538
      
 
68
  
   
$
15,563
    
$
16,518
    
$
1,108
  
 
Schedule of troubled debt restructurings by class
 
 
For the Three Months Ended September 30, 2014
  
 
Number of Loans
  
Pre-Modification Recorded Balance
  
Post-Modification Recorded Balance
  
 
(Unaudited; In Thousands)
  
       
Construction/Land
    
3
    
$
1,830
    
$
1,985
  
One-to-four family residential
    
1
      
485
      
485
  
Multi-family residential
    
1
      
1,019
      
1,019
  
Nonresidential and agricultural land
    
1
      
43
      
46
  
Commercial
    
1
      
130
      
153
  
     
7
    
$
3,507
    
$
3,688
  
 
 
For the Three Months Ended September 30, 2013
  
 
Number of Loans
  
Pre-Modification Recorded Balance
  
Post-Modification Recorded Balance
  
 
(Unaudited; In Thousands)
    
       
Construction/Land
    
1
    
$
37
    
$
37
  
One-to-four family residential
    
-
      
-
      
-
  
Multi-family residential
    
-
      
-
      
-
  
Nonresidential and agricultural land
    
-
      
-
      
-
  
Commercial
    
1
      
17
      
15
  
     
2
    
$
54
    
$
52
  


 
 
For the Nine Months Ended September 30, 2014
  
 
Number of Loans
    
Pre-Modification Recorded Balance
    
Post-Modification Recorded Balance
  
 
(Unaudited; In Thousands)
  
   
Construction/Land
    
5
    
$
4,278
    
$
4,473
  
One-to-four family residential
    
7
      
2,606
      
2,876
  
Multi-family residential
    
2
      
2,087
      
2,102
  
Nonresidential and agricultural land
    
2
      
243
      
209
  
Commercial
    
5
      
201
      
240
  
     
21
    
$
9,415
    
$
9,900
  
 

 
   
For the Nine Months Ended September 30, 2013
  
   
Number of Loans
    
Pre-Modification Recorded Balance
    
Post-Modification Recorded Valance
  
             
Construction/Land
    
4
    
$
140
    
$
309
  
One-to-four family residential
    
8
      
342
      
357
  
Multi-family residential
    
-
      
-
      
-
  
Nonresidential and agricultural land
    
2
      
935
      
935
  
Commercial
    
5
      
54
      
113
  
     
19
    
$
1,471
    
$
1,714
  
 
Schedule of troubled debt restructurings by type of modification
 
September 30, 2014
  
Interest Only
    
Term
    
Combination
    
Total
Modifications
  
   
(Unaudited; In Thousands)
  
     
Construction/Land
   $
155
   $
1,830
   $
-
   $
1,985
  
One-to-four family residential
    
-
      
485
      
-
      
485
  
Multi-family residential
    
-
      
1,019
      
-
      
1,019
  
Nonresidential
    
-
      
-
      
46
      
46
  
Commercial
    
-
      
-
      
153
      
153
  
   
$
155
    
$
3,334
    
$
199
    
$
3,688
  
 
September 30, 2013
  
Interest Only
    
Term
    
Combination
    
Total
Modifications
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
-
    
$
37
    
$
-
    
$
37
  
One-to-four family residential
    
-
      
-
      
-
      
-
  
Multi-family residential
    
-
      
-
      
-
      
-
  
Nonresidential
    
-
      
-
      
-
      
-
  
Commercial
    
-
      
-
      
15
      
15
  
   
$
-
    
$
37
    
$
15
    
$
52
  
 
September 30, 2014
  
Interest Only
    
Term
    
Combination
    
Total
Modifications
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
155
    
$
2,048
    
$
2,270
    
$
4,473
  
One-to-four family residential
    
-
      
595
      
2,281
      
2,876
  
Multi-family residential
    
-
      
1,019
      
1,083
      
2,102
  
Nonresidential
    
-
      
-
      
209
      
209
  
Commercial
    
-
      
-
      
240
      
240
  
   
$
155
    
$
3,662
    
$
6,083
    
$
9,900
  
 
September 30, 2013
  
Interest Only
    
Term
    
Combination
    
Total
Modifications
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
-
    
$
138
    
$
171
    
$
309
  
One-to-four family residential
    
-
      
204
      
153
      
357
  
Multi-family residential
    
-
      
-
      
-
      
-
  
Nonresidential
    
-
      
-
      
935
      
935
  
Commercial
    
-
      
-
      
113
      
113
  
   
$
-
    
$
342
    
$
1,372
    
$
1,714