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Loans

12 Months Ended

Dec. 31, 2014

NOTE 5 – LOANS

The composition of net loans receivable at December 31, 2014 and 2013 is as follows:



(Dollars in thousands)	December 31, 2014		December 31, 2013

Commercial and industrial loans	$	20,549	$	15,205
Construction		12,379		7,307
Commercial real estate		326,370		260,664
Residential real estate		111,498		107,992
Consumer and other		1,665		1,617
		472,461		392,785
Unearned net loan origination fees		(488)		(383)
Allowance for loan losses		(5,641)		(5,421)
Net loans receivable	$	466,332	$	386,981

Mortgage loans serviced for others are not included in the accompanying balance sheets. The total amount of loans serviced for the benefit of others was approximately $475 thousand and $546 thousand at December 31, 2014 and 2013, respectively. Mortgage servicing rights were immaterial at December 31, 2014 and 2013.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

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