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Note 5 - Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Allowance for Credit Losses [Text Block]
5.
ALLOWANCE FOR CREDIT LOSSES
 
Activity in the allowance for credit losses, which includes the allowance for loan and lease losses and unfunded commitments, for the years ended
December
31,
2016,
2015
and
2014,
is summarized as follows:
 
 
   
Allowance for Loan and Lease Losses
    
Allowance for Unfunded Commitments
    
Allowance for Credit
Losses
  
Balance at December 31, 2013
   $
7,609,467
    $
264,323
    $
7,873,790
 
Provisions for credit losses
    
1,100,000
     
25,407
     
1,125,407
 
Loans charged off
    
(1,316,082
 )    
-
     
(1,316,082
 )
Recoveries
    
126,585
     
-
     
126,585
 
Balance at December 31, 2014
    
7,519,970
     
289,730
     
7,809,700
 
Provisions for credit losses
    
800,000
     
46,457
     
846,457
 
Loans charged off
    
(702,557
 )    
-
     
(702,557
 )
Recoveries
    
249,110
     
-
     
249,110
 
Balance at December 31, 2015
    
7,866,523
     
336,187
     
8,202,710
 
Provisions for (recoveries of) credit losses
    
970,000
     
(24,564
 )    
945,436
 
Loans charged off
    
(344,888
 )    
-
     
(344,888
 )
Recoveries
    
181,537
     
-
     
181,537
 
Balance at December 31, 2016
   $
8,673,172
    $
311,623
    $
8,984,795
 
 
The following table presents a summary of activity in the allowance for credit losses, with charge-off and recovery by class of financing receivable, for the years ended
December
 
31,
2016
and
2015:
 
   
December 31, 2016
    
December 31, 2015
  
   
(In thousands)
  
Allowance for loan and lease losses at beginning of period
   $
7,867
    $
7,520
 
Allowance for unfunded commitments at beginning of period
    
336
     
290
 
Total allowance for credit losses at beginning of period
    
8,203
     
7,810
 
Provision for loan and lease losses
    
970
     
800
 
Provision for (recovery of) unfunded commitments
    
(24
 )    
46
 
                 
Loans charged-off:
                
Residential real estate
    
(2
 )    
(301
 )
Commercial real estate
    
(101
 )    
(172
 )
Commercial construction
    
-
     
-
 
Commercial lots and raw land
   
-
     
(33
 )
Commercial and industrial
    
(2
 )    
-
 
Lease receivables
    
-
     
-
 
Consumer real estate
    
(81
 )    
(85
 )
Consumer lots and raw land
    
(78
 )    
(85
 )
Home equity lines of credit
    
(23
 )    
(13
 )
Consumer other
    
(58
 )    
(13
 )
Total charge-offs
    
(345
 )    
(702
 )
Recoveries of loans previously charged-off:
                
Residential real estate
    
3
     
1
 
Commercial real estate
    
35
     
83
 
Commercial construction
    
70
     
-
 
Commercial lots and raw land
   
11
     
4
 
Commercial and industrial
    
13
     
-
 
Consumer real estate
    
13
     
18
 
Consumer lots and raw land
    
2
     
8
 
Home equity lines of credit
    
7
     
36
 
Consumer other
    
27
     
99
 
Total recoveries
    
181
     
249
 
Net charge-offs
    
(164
 )    
(453
 )
Allowance for loan and lease losses at end of period
    
8,673
     
7,867
 
Allowance for unfunded commitments at end of period
    
312
     
336
 
Total allowance for credit losses at end of period
   $
8,985
    $
8,203
 
 
 
The following tables present a roll forward of the Company’s allowance for loan and lease losses by loan category based on loans either collectively or individually evaluated for impairment by class of financing receivable for the years ended
December
 
31,
2016
and
2015:
 
   
December 31, 2016
  
   
Beginning
    
Charge-
                    
Ending
    
Total
  
   
Balance
    
Offs
    
Recoveries
    
Provisions
    
Balance
    
Loans
  
   
(In thousands)
  
Collectively evaluated for impairment:
                                               
Residential real estate
   $
730
    $
-
    $
-
    $
(35
 )   $
695
    $
66,667
 
Residential construction
    
47
     
-
     
-
     
42
     
89
     
7,875
 
Residential lots and raw land
    
2
     
-
     
-
     
-
     
2
     
154
 
Commercial real estate
    
4,065
     
(33
 )    
32
     
498
     
4,562
     
371,305
 
Commercial construction
    
518
     
-
     
70
     
101
     
689
     
56,118
 
Commercial lots and raw land
    
303
     
-
     
-
     
62
     
365
     
31,249
 
Commercial and industrial
    
641
     
(2
 )    
13
     
188
     
840
     
67,636
 
Lease receivables
    
196
     
-
     
-
     
30
     
226
     
21,236
 
Consumer real estate
    
198
     
(6
 )    
13
     
(19
 )    
186
     
16,746
 
Consumer construction
    
2
     
-
     
-
     
(1
 )    
1
     
105
 
Consumer lots and raw land
    
125
     
(5
 )    
-
     
13
     
133
     
8,199
 
Home equity lines of credit
    
351
     
(23
 )    
1
     
86
     
415
     
36,721
 
Consumer other
    
71
     
(58
 )    
27
     
37
     
77
     
6,309
 
Total
    
7,249
     
(127
 )    
156
     
1,002
     
8,280
     
690,320
 
Individually evaluated for impairment:
                                                
Residential real estate
    
-
     
(2
 )    
3
     
(1
 )    
-
     
597
 
Commercial real estate
    
-
     
(68
 )    
3
     
65
     
-
     
6,868
 
Commercial lots and raw land
    
365
     
-
     
11
     
(376
 )    
-
     
2,185
 
Commercial and industrial
    
14
     
-
     
-
     
212
     
226
     
344
 
Consumer real estate
    
30
     
(75
 )    
-
     
45
     
-
     
221
 
Consumer lots and raw land
    
209
     
(73
 )    
2
     
6
     
144
     
776
 
Home equity lines of credit
    
-
     
-
     
6
     
17
     
23
     
94
 
Consumer other
    
-
     
-
     
-
     
-
     
-
     
38
 
Total
    
618
     
(218
 )    
25
     
(32
 )    
393
     
11,123
 
Grand Total
   $
7,867
    $
(345
 )   $
181
    $
970
    $
8,673
    $
701,443
 
 
 
   
December 31, 2015
  
   
Beginning
    
Charge-
                    
Ending
    
Total
  
   
Balance
    
Offs
    
Recoveries
    
Provisions
    
Balance
    
Loans
  
   
(In thousands)
  
Collectively evaluated for impairment:
                                               
Residential real estate
   $
982
    $
(116
 )   $
-
    $
(136
 )   $
730
    $
67,142
 
Residential construction
    
17
     
-
     
-
     
30
     
47
     
3,934
 
Residential lots and raw land
    
11
     
-
     
-
     
(9
 )    
2
     
157
 
Commercial real estate
    
3,516
     
(3
 )    
48
     
504
     
4,065
     
328,372
 
Commercial construction
    
375
     
-
     
-
     
143
     
518
     
42,413
 
Commercial lots and raw land
    
377
     
-
     
-
     
(74
 )    
303
     
25,655
 
Commercial and industrial
    
400
     
-
     
4
     
237
     
641
     
45,425
 
Lease receivables
    
172
     
-
     
-
     
24
     
196
     
17,235
 
Consumer real estate
    
250
     
-
     
18
     
(70
 )    
198
     
16,959
 
Consumer construction
    
19
     
-
     
-
     
(17
 )    
2
     
196
 
Consumer lots and raw land
    
152
     
-
     
-
     
(27
 )    
125
     
8,870
 
Home equity lines of credit
    
405
     
(13
 )    
1
     
(42
 )    
351
     
29,659
 
Consumer other
    
52
     
(13
 )    
99
     
(67
 )    
71
     
6,028
 
Total
    
6,728
     
(145
 )    
170
     
496
     
7,249
     
592,045
 
Individually evaluated for impairment:
                                                
Residential real estate
    
185
     
(185
 )    
1
     
(1
 )    
-
     
1,087
 
Commercial real estate
    
167
     
(169
 )    
35
     
(33
 )    
-
     
10,342
 
Commercial construction
    
-
     
-
     
-
     
-
     
-
     
574
 
Commercial lots and raw land
    
251
     
(33
 )    
-
     
147
     
365
     
2,616
 
Commercial and industrial
    
-
     
-
     
-
     
14
     
14
     
56
 
Consumer real estate
    
19
     
(85
 )    
-
     
96
     
30
     
280
 
Consumer lots and raw land
    
165
     
(85
 )    
8
     
121
     
209
     
773
 
Home equity lines of credit
    
5
     
-
     
35
     
(40
 )    
-
     
50
 
Consumer other
    
-
     
-
     
-
     
-
     
-
     
42
 
Total
    
792
     
(557
 )    
79
     
304
     
618
     
15,820
 
Grand Total
   $
7,520
    $
(702
 )   $
249
    $
800
    $
7,867
    $
607,865