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Note 6 - Troubled Debt Restructurings
12 Months Ended
Dec. 31, 2015
Receivables [Abstract]  
Financing Receivables [Text Block]

6. TROUBLED DEBT RESTRUCTURINGS


The following table presents performing troubled debt restructured loans (TDRs) at the dates indicated.


   

At December 31,

 
   

2015

   

2014

   

2013

   

2012

   

2011

 
   

(Dollars in thousands)

 
Performing TDRs accounted for on accrual status:                                        

Residential real estate

  $ -     $ -     $ 287     $ -     $ -  

Commercial real estate

    765       1,132       1,887       5,901       19,602  

Commercial construction

    -       -       2,762       29       1,401  

Commercial lots and raw land

    -       -       -       1,667       2,887  

Commercial and Industrial

    5       9       13       16       64  

Consumer real estate

    -       165       171       60       53  

Consumer lots and raw land

    107       60       69       667       1,178  

Home equity lines of credit

    -       -       -       -       175  

Consumer other

    -       56       18       26       28  

Total

  $ 877     $ 1,422     $ 5,207     $ 8,366     $ 25,388  

Percentage of total loans, net

    0.1 %     0.3 %     1.1 %     1.7 %     4.8 %

The following table presents a roll forward of the Bank’s performing TDRs for the years ended December 31, 2015 and 2014:


Performing TDRs

 

Beginning Balance

   

Additions (1)

   

Charge-offs (2)

   

Other (3)

   

Ending Balance

 
   

(In thousands)

 

December 31, 2015

                                       

Residential mortgage

  $ -     $ -     $ -     $ -     $ -  

Commercial

    1,141       -       (8 )     (363 )     770  

Consumer

    281       -       -       (174 )     107  

Total

  $ 1,422     $ -     $ (8 )   $ (537 )   $ 877  
                                         

December 31, 2014

                                       

Residential mortgage

  $ 287     $ -     $ -     $ (287 )   $ -  

Commercial

    4,662       -       -       (3,521 )     1,141  

Consumer

    258       46       -       (23 )     281  

Total

  $ 5,207     $ 46     $ -     $ (3,831 )   $ 1,422  

1.

Includes new TDRs and increases to existing TDRs.


2.

Post modification charge-offs.


3.

Includes principal payments, paydowns and performing loans previously restructured at market rates that are no longer reported as TDRs.


The following table presents a roll forward of the Bank’s non-performing TDRs for the years ended December 31, 2015 and 2014:


Non-Performing TDRs

 

Beginning Balance

   

Additions (1)

   

Charge-offs (2)

   

Other (3)

   

Ending Balance

 
   

(In thousands)

 

December 31, 2015

                                       

Residential mortgage

  $ 834     $ -     $ -     $ (25 )   $ 809  

Commercial

    2,355       -       (162 )     (1,659 )     534  

Consumer

    51       -       (33 )     141       159  

Total

  $ 3,240     $ -     $ (195 )   $ (1,543 )   $ 1,502  
                                         

December 31, 2014

                                       

Residential mortgage

  $ 859     $ -     $ -     $ (25 )   $ 834  

Commercial

    2,650       1,459       (554 )     (1,200 )     2,355  

Consumer

    51       -       -       -       51  

Total

  $ 3,560     $ 1,459     $ (554 )   $ (1,225 )   $ 3,240  

1.

Includes new TDRs and increases to existing TDRs.


2.

Post modification charge-offs.


3.

Includes principal payments, paydowns and loans previously designated as non-performing that are now current and performing in compliance with their modified terms.


During the year ended December 31, 2015, none of those loans modified as TDRs listed as additions in the tables above subsequently defaulted during the period.


In determination of the allowance for loan losses, the Bank considers TDRs and subsequent defaults in restructuring in its estimate. As a result, the allowance may be increased, adjustments may be made in the allocation of the allowance, or charge-offs may be taken to further write-down the carrying value of the loan.