XML 40 R24.htm IDEA: XBRL DOCUMENT v2.4.1.9
LOANS AND ALLOWANCE (Tables)
 3 Months Ended
Mar. 31, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of breakdown of loans
   
March 31, 2015
    
December 31, 2014
  
   
 
(Unaudited)
      
Construction/Land
  
$
26,211
    
$
26,055
  
One-to-four family residential
    
 
132,074
      
 
133,904
  
Multi-family residential
    
 
20,703
      
 
20,936
  
Nonresidential
    
 
124,823
      
 
122,894
  
Commercial
    
 
25,184
      
 
27,861
  
Consumer
    
 
3,564
      
 
3,894
  
     
 
332,559
      
 
335,544
  
Unamortized deferred loan costs
    
 
516
      
 
513
  
Undisbursed loans in process
    
(1,510
)
    
(57
)
Allowance for loan losses
    
(3,654
)
    
(4,005
)
Total loans
  
$
327,911
    
$
331,995
  
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 March 31, 2015
Balances at beginning of period:
  
$
740
    
$
1,977
    
$
28
    
$
1,107
    
$
151
    
$
2
    
$
4,005
  
Provision for losses
    
99
      
15
      
(5
)
    
(17
)
    
(7
)
    
14
      
99
  
Loans charged off
    
-
      
(571
)
    
-
      
-
      
(3
)
    
(28
)
    
(602
)
Recoveries on loans
    
67
      
2
      
-
      
70
      
-
      
13
      
152
  
Balances at end of period
  
$
906
    
$
1,423
    
$
23
    
$
1,160
    
$
141
    
$
1
    
$
3,654
  
                                                         
As of March 31, 2015
Allowance for losses:
                                                        
Individually evaluated for impairment:
  
$
391
    
$
222
    
$
-
    
$
310
    
$
76
    
$
-
    
$
999
  
Collectively evaluated for impairment:
    
515
      
1,052
      
23
      
797
      
65
      
1
      
2,453
  
Loans acquired with a deteriorated credit quality:
    
-
      
149
      
-
      
53
      
-
      
-
      
202
  
Balances at end of period
  
$
906
    
$
1,423
    
$
23
    
$
1,160
    
$
141
    
$
1
    
$
3,654
  
                                                         
Loans:
                                                        
Individually evaluated for impairment:
  
$
3,820
    
$
2,635
    
$
1,004
    
$
3,240
    
$
291
    
$
-
    
$
10,990
  
Collectively evaluated for impairment:
    
21,983
      
128,401
      
19,699
      
121,182
      
24,880
      
3,557
      
319,702
  
Loans acquired with a deteriorated credit quality:
    
408
      
1,038
      
-
      
401
      
13
      
7
      
1,867
  
Balances at end of period
  
$
26,211
    
$
132,074
    
$
20,703
    
$
124,823
    
$
25,184
    
$
3,564
    
$
332,559
  
 
   
 
Construction/
Land
    
 
1-4 Family
    
 
Multi-Family
    
 
Nonresidential
    
 
Commercial
    
 
Consumer
    
 
Total
  
   
 
(Unaudited; In Thousands)
  
Three Months Ended March 31, 2014
Balances at beginning of period:
  
$
676
    
$
1,749
    
$
404
    
$
1,470
    
$
189
    
$
22
    
$
4,510
  
Provision for losses
    
18
      
256
      
10
      
(93
)
    
(20
)
    
3
      
174
  
Loans charged off
    
-
      
(484
)
    
-
      
(11
)
    
-
      
(38
)
    
(533
)
Recoveries on loans
    
-
      
3
      
-
      
12
      
7
      
23
      
45
  
Balances at end of period
  
$
694
    
$
1,524
    
$
414
    
$
1,378
    
$
176
    
$
10
    
$
4,196
  
                                                         
 
   
 
Construction/
Land
    
 
1-4 Family
    
 
Multi-Family
    
 
Nonresidential
    
 
Commercial
    
 
Consumer
    
 
Total
  
   
 
(In Thousands)
  
As of December 31, 2014
Allowance for losses:
                            
Individually evaluated for impairment:
  
$
391
    
$
816
    
$
-
    
$
310
    
$
76
    
$
-
    
$
1,593
  
Collectively evaluated for impairment:
    
349
      
1,023
      
28
      
745
      
75
      
2
      
2,222
  
Loans acquired with a deteriorated credit quality:
    
-
      
138
      
-
      
52
      
-
      
-
      
190
  
Balances at end of period
  
$
740
    
$
1,977
    
$
28
    
$
1,107
    
$
151
    
$
2
    
$
4,005
  
                                                         
Loans:
                                                        
Individually evaluated for impairment:
  
$
4,047
    
$
4,448
    
$
1,013
    
$
3,315
    
$
379
    
$
8
    
$
13,210
  
Collectively evaluated for impairment:
    
21,597
      
128,421
      
19,923
      
119,176
      
27,468
      
3,876
      
320,461
  
Loans acquired with a deteriorated credit quality:
    
411
      
1,035
      
-
      
403
      
14
      
10
      
1,873
  
Balances at end of period
  
$
26,055
    
$
133,904
    
$
20,936
    
$
122,894
    
$
27,861
    
$
3,894
    
$
335,544
  
Schedule of credit risk profile of the corporation's loan portfolio based on rating category
March 31, 2015
 
  
Total Portfolio
    
Pass
    
Special Mention
    
Substandard
    
Doubtful
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
26,211
    
$
22,312
    
$
1,783
    
$
2,116
    
$
-
  
1-4 family residential
    
132,074
      
124,171
      
2,877
      
4,923
      
103
  
Multi-family residential
    
20,703
      
20,662
      
41
      
-
      
-
  
Nonresidential
    
124,823
      
119,266
      
2,559
      
2,954
      
44
  
Commercial
    
25,184
      
24,873
      
7
      
239
      
65
  
Consumer
    
3,564
      
3,548
      
-
      
16
      
-
  
Total loans
  
$
332,559
    
$
314,832
    
$
7,267
    
$
10,248
    
$
212
  
 
December 31, 2014
 
  
Total Portfolio
    
Pass
    
Special Mention
    
Substandard
    
Doubtful
  
   
(In Thousands)
  
Construction/Land
  
$
26,055
    
$
21,907
    
$
31
    
$
4,117
    
$
-
  
1-4 family residential
    
133,904
      
124,969
      
2,817
      
6,013
      
105
  
Multi-family residential
    
20,936
      
19,881
      
42
      
1,013
      
-
  
Nonresidential
    
122,894
      
117,336
      
2,486
      
2,923
      
149
  
Commercial
    
27,861
      
27,432
      
9
      
355
      
65
  
Consumer
    
3,894
      
3,875
      
-
      
19
      
-
  
Total loans
  
$
335,544
    
$
315,400
    
$
5,385
    
$
14,440
    
$
319
Schedule of corporation's loan portfolio aging analysis
March 31, 2015
  
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
  
$
-
    
$
5
    
$
187
    
$
192
    
$
25,611
    
$
408
    
$
26,211
  
1-4 family residential
    
1,041
      
308
      
1,036
      
2,385
      
128,651
      
1,038
      
132,074
  
Multi-family residential
    
-
      
-
      
-
      
-
      
20,703
      
-
      
20,703
  
Nonresidential
    
455
      
1,134
      
1,741
      
3,330
      
121,092
      
401
      
124,823
  
Commercial
    
-
      
44
      
75
      
119
      
25,052
      
13
      
25,184
  
Consumer
    
29
      
-
      
16
      
45
      
3,512
      
7
      
3,564
  
   
$
1,525
    
$
1,491
    
$
3,055
    
$
6,071
    
$
324,621
    
$
1,867
    
$
332,559
  
 
December 31, 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
  
   
(In Thousands)
  
Construction/Land
  
$
-
    
$
-
    
$
187
    
$
187
    
$
25,457
    
$
411
    
$
26,055
  
1-4 family residential
    
418
      
760
      
2,855
      
4,033
      
128,836
      
1,035
      
133,904
  
Multi-family residential
    
-
      
-
      
-
      
-
      
20,936
      
-
      
20,936
  
Nonresidential
    
458
      
-
      
1,745
      
2,203
      
120,288
      
403
      
122,894
  
Commercial
    
-
      
-
      
116
      
116
      
27,731
      
14
      
27,861
  
Consumer
    
25
      
10
      
10
      
45
      
3,839
      
10
      
3,894
  
   
$
901
    
$
770
    
$
4,913
    
$
6,584
    
$
327,087
    
$
1,873
    
$
335,544
  
Schedule of corporation's nonaccrual loans
   
March 31, 2015
    
December 31, 2014
  
   
 
(Unaudited)
      
Construction/Land
  
$
2,033
    
$
2,148
  
One-to-four family residential
    
 
3,406
      
 
4,214
  
Multi-family residential
    
 
-
      
 
1,013
  
Nonresidential and agricultural land
    
 
3,059
      
 
3,132
  
Commercial
    
 
227
      
 
230
  
Consumer and other
    
 
7
      
 
8
  
Total nonaccrual loans
  
$
8,732
    
$
10,745
  
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 March 31, 2015 (unaudited; in thousands):
Impaired loans without a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
Construction/Land
  
$
2,123
    
$
2,123
    
$
-
  
1-4 family residential
    
 
1,994
      
 
2,576
      
 
-
  
Multi-family residential
    
 
1,004
      
 
1,004
      
 
-
  
Nonresidential
    
 
2,288
      
 
2,542
      
 
-
  
Commercial
    
 
163
      
 
165
      
 
-
  
Consumer
    
 
-
      
 
-
      
 
-
  
   
$
7,572
    
$
8,410
    
$
-
  
 
Impaired loans with a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
Construction/Land
  
$
1,697
    
$
1,711
    
$
391
  
1-4 family residential
    
 
641
      
 
658
      
 
222
  
Multi-family residential
    
 
-
      
 
-
      
 
-
  
Nonresidential
    
 
952
      
 
952
      
 
310
  
Commercial
    
 
128
      
 
266
      
 
76
  
Consumer
    
 
-
      
 
-
      
 
-
  
   
$
3,418
    
$
3,587
    
$
999
  
 
Total impaired loans:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
Construction Land
  
$
3,820
    
$
3,834
    
$
391
  
1-4 family residential
    
 
2,635
      
 
3,234
      
 
222
  
Multi-family residential
    
 
1,004
      
 
1,004
      
 
-
  
Nonresidential
    
 
3,240
      
 
3,494
      
 
310
  
Commercial
    
 
291
      
 
431
      
 
76
  
Consumer
    
 
-
      
 
-
      
 
-
  
   
$
10,990
    
$
11,997
    
$
999
  
 
The following tables present information pertaining to the principal balances and specific valuation allocations for impaired loans as of December 31, 2014 (in thousands).
Impaired loans without a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
Construction/Land
  
$
2,300
    
$
2,342
    
$
-
  
1-4 family residential
    
 
1,952
      
 
1,962
      
 
-
  
Multi-family residential
    
 
1,013
      
 
1,013
      
 
-
  
Nonresidential
    
 
2,360
      
 
2,614
      
 
-
  
Commercial
    
 
250
      
 
251
      
 
-
  
Consumer
    
 
8
      
 
9
      
 
-
  
   
$
7,883
    
$
8,191
    
$
-
  
 
Impaired loans with a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
Construction/Land
  
$
1,747
    
$
1,761
    
$
391
  
1-4 family residential
    
 
2,496
      
 
2,512
      
 
816
  
Multi-family residential
    
 
-
      
 
-
      
 
-
  
Nonresidential
    
 
955
      
 
955
      
 
310
  
Commercial
    
 
129
      
 
268
      
 
76
  
Consumer
    
 
-
      
 
-
      
 
-
  
   
$
5,327
    
$
5,496
    
$
1,593
  
 
Total impaired loans:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
Construction/Land
  
$
4,047
    
$
4,103
    
$
391
  
1-4 family residential
    
 
4,448
      
 
4,474
      
 
816
  
Multi-family residential
    
 
1,013
      
 
1,013
      
 
-
  
Nonresidential
    
 
3,315
      
 
3,569
      
 
310
  
Commercial
    
 
379
      
 
519
      
 
76
  
Consumer
    
 
8
      
 
9
      
 
-
  
   
$
13,210
    
$
13,687
    
$
1,593
  
Schedule of information related to the average recorded investment and interest income recognized on impaired loans
   
Three Months Ended
March 31, 2015
    
Three Months Ended
March 31, 2014
  
   
Average Investment
    
Interest Income Recognized
    
Average Investment
    
Interest Income Recognized
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
3,871
    
$
33
    
$
4,195
    
$
33
  
1-4 family residential
    
 
2,652
      
 
30
      
 
5,649
      
 
47
  
Multi-family residential
    
 
1,004
      
 
10
      
 
1,038
      
 
5
  
Nonresidential
    
 
3,240
      
 
26
      
 
4,105
      
 
28
  
Commercial
    
 
347
      
 
7
      
 
330
      
 
1
  
Consumer
    
 
8
      
 
-
      
 
-
      
 
-
  
   
$
11,122
    
$
106
    
$
15,317
    
$
114
  
Schedule of troubled debt restructurings by class
   
At March 31, 2015
    
For the Three Months Ended March 31, 2015
  
   
# of Loans
    
Total Troubled Debt Restructured
    
# of Loans
    
Pre-Modification Recorded Balance
    
Post-Modification Recorded Balance
  
   
(Unaudited; In Thousands)
  
Construction/Land
    
8
    
$
3,737
      
4
    
$
1,820
    
$
1,820
  
One-to-four family residential
    
11
      
1,019
      
-
      
-
      
-
  
Multi-family residential
    
1
      
1,004
      
-
      
-
      
-
  
Nonresidential and agricultural land
    
2
      
884
      
-
      
-
      
-
  
Commercial
    
7
      
175
      
1
      
16
      
16
  
Consumer
    
-
      
-
      
-
      
-
      
-
  
     
29
    
$
6,819
      
5
    
$
1,836
    
$
1,836
  
 
   
At March 31, 2014
    
For the Three Months Ended March 31, 2014
  
   
# of Loans
    
Total Troubled Debt Restructured
    
# of Loans
    
Pre-Modification Recorded Balance
    
Post-Modification Recorded Balance
  
   
(Unaudited; In Thousands)
  
Construction/Land
    
11
    
$
4,124
      
1
    
$
219
    
$
218
  
One-to-four family residential
    
11
      
2,840
      
3
      
1,892
      
2,163
  
Multi-family residential
    
1
      
1,015
      
-
      
-
      
-
  
Nonresidential and agricultural land
    
4
      
1,487
      
-
      
-
      
-
  
Commercial
    
8
      
264
      
1
      
-
      
16
  
Consumer
    
-
      
-
      
-
      
-
      
-
  
     
35
    
$
9,730
      
5
    
$
2,111
    
$
2,397
  
Schedule of troubled debt restructurings by type of modification
March 31, 2015
  
Interest Only
    
Term
    
Combination
    
Total
Modifications
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
-
    
$
1,820
    
$
-
    
$
1,820
  
One-to-four family residential
    
-
      
-
      
-
      
-
  
Multi-family residential
    
-
      
-
      
-
      
-
  
Nonresidential
    
-
      
-
      
-
      
-
  
Commercial
    
-
      
-
      
16
      
16
  
Consumer
    
-
      
-
      
-
      
-
  
   
$
-
    
$
1,820
    
$
16
    
$
1,836
  
 
March 31, 2014
  
Interest Only
    
Term
    
Combination
    
Total
Modifications
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
-
    
$
218
    
$
-
    
$
218
  
One-to-four family residential
    
-
      
96
      
2,067
      
2,163
  
Multi-family residential
    
-
      
-
      
-
      
-
  
Nonresidential
    
-
      
-
      
-
      
-
  
Commercial
    
-
      
-
      
16
      
16
  
Consumer
    
-
      
-
      
-
      
-
  
   
$
-
    
$
314
    
$
2,083
    
$
2,397