XML 49 R23.htm IDEA: XBRL DOCUMENT v3.2.0.727
LOANS AND ALLOWANCE (Tables)
 6 Months Ended
Jun. 30, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of breakdown of loans
   
June 30, 2015
    
December 31, 2014
  
 
(Unaudited)
   
 
(In Thousands)
  
Construction/Land
  
$
25,864
    
$
26,055
  
One-to-four family residential
    
 
130,888
      
 
133,904
  
Multi-family residential
    
 
21,284
      
 
20,936
  
Nonresidential
    
 
127,434
      
 
122,894
  
Commercial
    
 
27,451
      
 
27,861
  
Consumer
    
 
3,987
      
 
3,894
  
     
 
336,908
      
 
335,544
  
Unamortized deferred loan costs
    
 
518
      
 
513
  
Undisbursed loans in process
    
(673
)
    
(57
)
Allowance for loan losses
    
(3,675
)
    
(4,005
)
Total loans
  
$
333,078
    
$
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 June 30, 2015
Balances at beginning of period:
 
  
$
906
    
$
1,423
    
$
23
    
$
1,160
    
$
141
    
$
1
    
$
3,654
  
Provision for losses
 
    
16
 
      
45
 
      
(16
)
    
60
 
      
(39
)
    
33
 
      
99
 
  
Loans charged off
 
    
-
 
      
(83
)
    
-
 
      
-
 
      
(15
)
    
(29
)
    
(127
)
Recoveries on loans
 
    
-
 
      
2
 
      
20
 
      
20
 
      
-
 
      
7
 
      
49
 
  
Balances at end of period
 
  
$
922
    
$
1,387
    
$
27
    
$
1,240
    
$
87
    
$
12
    
$
3,675
  
                                                         
Six Months Ended June 30, 2015
Balances at beginning of period:
 
  
$
740
    
$
1,977
    
$
28
    
$
1,107
    
$
151
    
$
2
    
$
4,005
  
Provision for losses
 
    
115
 
      
60
 
      
(20
)
    
42
 
      
(46
)
    
47
 
      
198
 
  
Loans charged off
 
    
-
 
      
(654
)
    
-
 
      
-
 
      
(18
)
    
(57
)
    
(729
)
Recoveries on loans
 
    
67
 
      
4
 
      
19
 
      
91
 
      
-
 
      
20
 
      
201
 
  
Balances at end of period
 
  
$
922
    
$
1,387
    
$
27
    
$
1,240
    
$
87
    
$
12
    
$
3,675
  
                                                         
As of June 30, 2015
Allowance for losses:
 
                                                        
Individually evaluated for impairment:
 
  
$
391
    
$
183
    
$
-
    
$
310
    
$
16
    
$
-
    
$
900
  
Collectively evaluated for impairment:
 
    
531
 
      
1,089
 
      
27
 
      
877
 
      
71
 
      
12
 
      
2,607
 
  
Loans acquired with a deteriorated credit quality:
 
    
-
 
      
115
 
      
-
 
      
53
 
      
-
 
      
-
 
      
168
 
  
Balances at end of period
 
  
$
922
    
$
1,387
    
$
27
    
$
1,240
    
$
87
    
$
12
    
$
3,675
  
                                                         
Loans:
 
                                                        
Individually evaluated for impairment:
 
  
$
3,334
    
$
3,275
    
$
-
    
$
3,245
    
$
180
    
$
-
    
$
10,034
  
Collectively evaluated for impairment:
 
    
22,477
 
      
126,619
 
      
21,284
 
      
123,791
 
      
27,258
 
      
3,982
 
      
325,411
 
  
Loans acquired with a deteriorated credit quality:
 
    
53
 
      
994
 
      
-
 
      
398
 
      
13
 
      
5
 
      
1,463
 
  
Balances at end of period
 
  
$
25,864
    
$
130,888
    
$
21,284
    
$
127,434
    
$
27,451
    
$
3,987
    
$
336,908
  
                                                         

 
   
 
Construction/
Land
    
 
1-4 Family
    
 
Multi-Family
    
 
Nonresidential
    
 
Commercial
    
 
Consumer
    
 
Total
  
   
 
(Unaudited; In Thousands)
 
  
Three Months Ended June 30, 2014
Balances at beginning of period:
 
  
$
694
    
$
1,524
    
$
414
    
$
1,378
    
$
176
    
$
10
    
$
4,196
  
Provision for losses
 
    
(18
)
    
(33
)
    
400
 
      
(311
)
    
(31
)
    
17
 
      
24
 
  
Loans charged off
 
    
-
 
      
(137
)
    
(511
)
    
(61
)
    
-
 
      
(35
)
    
(744
)
Recoveries on loans
 
    
-
 
      
37
 
      
-
 
      
226
 
      
7
 
      
16
 
      
286
 
  
Balances at end of period
 
  
$
676
    
$
1,391
    
$
303
    
$
1,232
    
$
152
    
$
8
    
$
3,762
  
                                                         
Six Months Ended
June 30, 2014
Balances at beginning of period:
 
  
$
676
    
$
1,749
    
$
404
    
$
1,470
    
$
189
    
$
22
    
$
4,510
  
Provision for losses
 
    
-
 
      
223
 
      
410
 
      
(404
)
    
(51
)
    
20
 
      
198
 
  
Loans charged off
 
    
-
 
      
(621
)
    
(511
)
    
(72
)
    
-
 
      
(73
)
    
(1,277
)
Recoveries on loans
 
    
-
 
      
40
 
      
-
 
      
238
 
      
14
 
      
39
 
      
331
 
  
Balances at end of period
 
  
$
676
    
$
1,391
    
$
303
    
$
1,232
    
$
152
    
$
8
    
$
3,762
  
                                                         
   
 
 
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
June 30, 2015
 
  
Total Portfolio
 
    
Pass
 
    
Special Mention
 
    
Substandard
 
    
Doubtful
 
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
25,864
    
$
22,446
    
$
1,511
    
$
1,907
    
$
-
  
1-4 family residential
    
130,888
      
123,363
      
3,076
      
4,367
      
82
  
Multi-family residential
    
21,284
      
21,243
      
41
      
-
      
-
  
Nonresidential
    
127,434
      
122,223
      
2,085
      
3,083
      
43
  
Commercial
    
27,451
      
27,201
      
6
      
244
      
-
  
Consumer
    
3,987
      
3,973
      
-
      
14
      
-
  
 
Total loans
  
$
336,908
    
$
320,449
    
$
6,719
    
$
9,615
    
$
125
  
 
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
June 30, 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
    
$
-
    
$
5
    
$
25,806
    
$
53
    
$
25,864
  
 
1-4 family residential
 
    
 
446
 
      
 
792
 
      
 
718
 
      
 
1,956
 
      
 
127,938
 
      
 
994
 
      
 
130,888
 
  
 
Multi-family residential
 
    
 
-
 
      
 
-
 
      
 
-
 
      
 
-
 
      
 
21,284
 
      
 
-
 
      
 
21,284
 
  
 
Nonresidential
 
    
 
1,305
 
      
 
122
 
      
 
1,970
 
      
 
3,397
 
      
 
123,639
 
      
 
398
 
      
 
127,434
 
  
 
Commercial
 
    
 
76
 
      
 
-
 
      
 
7
 
      
 
83
 
      
 
27,355
 
      
 
13
 
      
 
27,451
 
  
 
Consumer
 
    
 
-
 
      
 
1
 
      
 
15
 
      
 
16
 
      
 
3,966
 
      
 
5
 
      
 
3,987
 
  
   
$
1,827
    
$
920
    
$
2,710
    
$
5,457
    
$
329,988
    
$
1,463
    
$
336,908
  
 
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
   
June 30, 2015
    
December 31, 2014
  
   
 
(Unaudited)
      
 
Construction/Land
  
$
1,819
    
$
2,148
  
One-to-four family residential
    
 
2,926
      
 
4,214
  
Multi-family residential
    
 
-
      
 
1,013
  
Nonresidential and agricultural land
    
 
3,187
      
 
3,132
  
Commercial
    
 
121
      
 
230
  
Consumer and other
    
 
14
      
 
8
  
Total nonaccrual loans
  
$
8,067
    
$
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 June 30, 2015 (unaudited; in thousands):
Impaired loans without a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
 
Construction/Land
  
$
1,664
    
$
1,664
    
$
-
  
1-4 family residential
    
 
2,706
      
 
3,290
      
 
-
  
Multi-family residential
    
 
-
      
 
-
      
 
-
  
Nonresidential
    
 
2,307
      
 
2,331
      
 
-
  
Commercial
    
 
158
      
 
160
      
 
-
  
Consumer
    
 
-
      
 
-
      
 
-
  
   
$
6,835
    
$
7,445
    
$
-
  
 
Impaired loans with a specific allowance:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
 
Construction/Land
  
$
1,670
    
$
1,684
    
$
391
  
1-4 family residential
    
 
569
      
 
581
      
 
183
  
Multi-family residential
    
 
-
      
 
-
      
 
-
  
Nonresidential
    
 
938
      
 
938
      
 
310
  
Commercial
    
 
22
      
 
22
      
 
16
  
Consumer
    
 
-
      
 
-
      
 
-
  
   
$
3,199
    
$
3,225
    
$
900
  
 
Total impaired loans:
  
Recorded Investment
    
Unpaid Principal Balance
    
Specific
Allowance
  
 
Construction Land
  
$
3,334
    
$
3,348
    
$
391
  
1-4 family residential
    
 
3,275
      
 
3,871
      
 
183
  
Multi-family residential
    
 
-
      
 
-
      
 
-
  
Nonresidential
    
 
3,245
      
 
3,269
      
 
310
  
Commercial
    
 
180
      
 
182
      
 
16
  
Consumer
    
 
-
      
 
-
      
 
-
  
   
$
10,034
    
$
10,670
    
$
900
  
Schedule of information related to the average recorded investment and interest income recognized on impaired loans
   
Three Months Ended
June 30, 2015
    
Three Months Ended
June 30, 2014
  
   
Average Investment
    
Interest Income Recognized
    
Average Investment
    
Interest Income Recognized
  
   
(Unaudited; In Thousands)
  
 
Construction/Land
  
$
3,623
    
$
40
    
$
4,088
    
$
45
  
1-4 family residential
    
 
3,554
      
 
53
      
 
4,977
      
 
46
  
Multi-family residential
    
 
-
      
 
-
      
 
1,004
      
 
7
  
Nonresidential
    
 
3,268
      
 
29
      
 
3,890
      
 
37
  
Commercial
    
 
278
      
 
7
      
 
334
      
 
10
  
Consumer
    
 
-
              
 
-
      
 
-
  
   
$
10,723
    
$
129
    
$
14,293
    
$
145
  
 
   
Six Months Ended
June 30, 2015
    
Six Months Ended
June 30, 2014
  
   
Average Investment
    
Interest Income Recognized
    
Average Investment
    
Interest Income Recognized
  
   
(Unaudited; In Thousands)
  
 
Construction/Land
  
$
3,746
    
$
73
    
$
4,141
    
$
79
  
1-4 family residential
    
 
3,599
      
 
93
      
 
5,311
      
 
93
  
Multi-family residential
    
 
-
      
 
-
      
 
1,021
      
 
12
  
Nonresidential
    
 
3,231
      
 
54
      
 
3,982
      
 
64
  
Commercial
    
 
312
      
 
15
      
 
347
      
 
11
  
Consumer
    
 
4
      
 
-
      
 
-
      
 
-
  
   
$
10,892
    
$
235
    
$
14,802
    
$
259
  
 
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 troubled debt restructurings by class
   
For the Three Months Ended June 30, 2015
  
   
Number
of Loans
    
Pre-Modification Recorded Balance
    
Post-Modification Recorded Balance
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
2
    
$
1,504
    
$
1,504
  
One-to-four family residential
  
3
      
331
      
328
  
Multi-family residential
  
-
      
-
      
-
  
Nonresidential and agricultural land
  
-
      
-
      
-
  
Commercial
  
1
      
60
      
50
  
Consumer
  
-
      
-
      
-
  
   
6
    
$
1,895
    
$
1,882
  
 

 
   
For the Three Months Ended June 30, 2014
  
   
Number
of Loans
    
Pre-Modification Recorded Balance
    
Post-Modification Recorded Balance
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
1
    
$
2,229
    
$
2,270
  
One-to-four family residential
  
3
      
229
      
228
  
Multi-family residential
  
1
      
1,068
      
1,083
  
Nonresidential and agricultural land
  
1
      
200
      
163
  
Commercial
  
3
      
71
      
71
  
Consumer
  
-
      
-
      
-
  
   
9
    
$
3,797
    
$
3,815
  

 
 
For the Six Months Ended June 30, 2015
  
   
Number
of Loans
    
Pre-Modification Recorded Balance
    
Post-Modification Recorded Balance
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
6
    
$
3,324
    
$
3,324
  
One-to-four family residential
  
3
      
331
      
328
  
Multi-family residential
  
-
      
-
      
-
  
Nonresidential and agricultural land
  
-
      
-
      
-
  
Commercial
  
2
      
76
      
66
  
Consumer
  
-
      
-
      
-
  
   
11
    
$
3,731
    
$
3,718
  
 
   
 
For the Six Months Ended June 30, 2014
  
   
Number
of Loans
    
Pre-Modification Recorded Balance
    
Post-Modification Recorded Balance
  
Construction/Land
  
2
    
$
2,448
    
$
2,488
  
One-to-four family residential
  
6
      
2,121
      
2,391
  
Multi-family residential
  
1
      
1,068
      
1,083
  
Nonresidential and agricultural land
  
1
      
200
      
163
  
Commercial
  
4
      
71
      
87
  
Consumer
  
-
      
-
      
-
  
   
14
    
$
5,908
    
$
6,212
  
Schedule of troubled debt restructurings by type of modification
June 30, 2015
  
Interest Only
    
Term
    
Combination
    
Total
Modifications
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
-
    
$
1,504
    
$
-
    
$
1,504
  
One-to-four family residential
    
-
      
328
      
-
      
328
  
Multi-family residential
    
-
      
-
      
-
      
-
  
Nonresidential
    
-
      
-
      
-
      
-
  
Commercial
    
-
      
-
      
50
      
50
  
Consumer
    
-
      
-
      
-
      
-
  
   
$
-
    
$
1,832
    
$
50
    
$
1,882
  
 
June 30, 2014
  
Interest Only
    
Term
    
Combination
    
Total
Modifications
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
-
    
$
-
    
$
2,270
    
$
2,270
  
One-to-four family residential
    
-
      
14
      
214
      
228
  
Multi-family residential
    
-
      
-
      
1,083
      
1,083
  
Nonresidential
    
-
      
-
      
163
      
163
  
Commercial
    
-
      
-
      
71
      
71
  
Consumer
    
-
      
-
      
-
      
-
  
   
$
-
    
$
14
    
$
3,801
    
$
3,815
  
 
June 30, 2015
  
Interest Only
    
Term
    
Combination
    
Total
Modifications
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
-
    
$
3,324
    
$
-
    
$
3,324
  
One-to-four family residential
    
-
      
328
      
-
      
328
  
Multi-family residential
    
-
      
-
      
-
      
-
  
Nonresidential
    
-
      
-
      
-
      
-
  
Commercial
    
-
      
-
      
66
      
66
  
Consumer
    
-
      
-
      
-
      
-
  
   
$
-
    
$
3,652
    
$
66
    
$
3,718
  
 
June 30, 2014
  
Interest Only
    
Term
    
Combination
    
Total
Modifications
  
   
(Unaudited; In Thousands)
  
Construction/Land
  
$
-
    
$
218
    
$
2,270
    
$
2,488
  
One-to-four family residential
    
-
      
110
      
2,281
      
2,391
  
Multi-family residential
    
-
      
-
      
1,083
      
1,083
  
Nonresidential
    
-
      
-
      
163
      
163
  
Commercial
    
-
      
-
      
87
      
87
  
Consumer
    
-
      
-
      
-
      
-
  
   
$
-
    
$
328
    
$
5,884
    
$
6,212