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LOANS (Tables)
3 Months Ended
Jun. 30, 2012
Debt Disclosure [Abstract]  
Composition of loans receivable and loans held-for-sale
(in thousands) June 30, 2012 December 31, 2011
    Residential 1-4 family $         194,784 $            187,676  
    Residential 5+ multifamily 3,583 3,187
    Construction of residential 1-4 family 2,478 5,305
    Home equity credit 35,584 34,621
Residential real estate 236,429 230,789
    Commercial 83,227 81,958
    Construction of commercial 7,969 7,069
Commercial real estate 91,196 89,027
Farm land 3,818 4,925
Vacant land 11,489 12,828
Real estate secured 342,932 337,569
Commercial and industrial 30,678 29,358
Municipal 2,689 2,415
Consumer 4,085 4,496
Loans receivable, gross 380,384 373,838
Deferred loan origination fees and costs, net 1,036 1,004
Allowance for loan losses (4,208) (4,076)
Loans receivable, net $         377,212 $           370,766
Loans held-for-sale    
    Residential 1-4 family $             3,155    $                 948
Composition of loans receivable by credit risk rating
(in thousands) Pass Special mention Substandard Doubtful Loss Total
June 30, 2012            
    Residential 1-4 family $         177,444    $           13,283   $            4,057   $          -   $        -   $        194,784  
    Residential 5+ multifamily 2,797 786 - - - 3,583
    Construction of residential 1-4 family 1,271 413 794 - - 2,478
    Home equity credit 32,410 1,578 1,596 - - 35,584
Residential real estate 213,922 16,060 6,447 - - 236,429
    Commercial 62,246 10,038 10,943 - - 83,227
    Construction of commercial 7,198 300 471 - - 7,969
Commercial real estate 69,444 10,338 11,414 - - 91,196
Farm land 2,272 344 1,202 - - 3,818
Vacant land 6,774 873 3,842 - - 11,489
Real estate secured 292,412 27,615 22,905 - - 342,932
Commercial and industrial 21,167 7,276 2,235 - - 30,678
Municipal 2,689 - - - - 2,689
Consumer 3,877 160 48 - - 4,085
Loans receivable, gross $        320,145 $         35,051 $        25,188 $          - $       - $      380,384

 

 

(in thousands) Pass Special mention Substandard Doubtful Loss Total
December 31, 2011            
    Residential 1-4 family $        168,326   $          15,517   $          3,833   $          -   $       -    $    187,676  
    Residential 5+ multifamily 2,752 435 - - - 3,187
    Construction of residential 1-4 family 4,116 415 774 - - 5,305
    Home equity credit 31,843 1,451 1,327 - - 34,621
Residential real estate 207,037 17,818 5,934 - - 230,789
    Commercial 64,458 6,187 11,313 - - 81,958
    Construction of commercial 6,296 302 471 - - 7,069
Commercial real estate 70,754 6,489 11,784 - - 89,027
Farm land 2,327 1,768 830 - - 4,925
Vacant land 8,039 883 3,906 - - 12,828
Real estate secured 288,157 26,958 22,454 - - 337,569
Commercial and industrial 21,104 6,847 1,407 - - 29,358
Municipal 2,415 - - - - 2,415
Consumer 4,254 178 64 - - 4,496
Loans receivable, gross $      315,930 $       33,983 $      23,925 $         - $      - $   373,838
Credit quality segments of loans receivable by credit risk rating
(in thousands) Pass Special mention Substandard Doubtful Loss Total
June 30, 2012            
Performing loans $      319,145   $        33,460   $                  -    $         -   $      -    $     352,605  
Potential problem loans - - 12,635 - - 12,635
Troubled debt restructurings: accruing 1,000 1,591 4,144 - - 6,735
Troubled debt restructurings: non-accrual - - 1,606 - - 1,606
Other non-accrual loans - - 6,803 - - 6,803
Impaired loans 1,000 1,591 12,553 - - 15,144
Loans receivable, gross $     320,145 $       35,051 $       25,188 $        - $      - $   380,384
December 31, 2011            
Performing loans $      314,551   $          32,570 $                 -   $         -   $       -   $    347,121  
Potential problem loans - - 14,039 - - 14,039
Troubled debt restructurings: accruing 1,379 1,413 1,810 - - 4,602
Troubled debt restructurings: non-accrual - - 1,753 - - 1,753
Other non-accrual loans - - 6,323 - - 6,323
Impaired loans 1,379 1,413 9,886 - - 12,678
Loans receivable, gross $    315,930 $       33,983 $       23,925 $        - $      - $   373,838
Composition of loans receivable delinquency status by credit risk rating
(in thousands) Pass Special mention Substandard Doubtful Loss Total
June 30, 2012            
Current $     314,409   $         30,252   $       13,748   $          -   $       -   $    358,409  
Past due 001-029 5,241 3,784 2,642 - - 11,667
Past due 030-059 392 659 856 - - 1,907
Past due 060-089 103 356 732 - - 1,191
Past due 090-179 - - 879 - - 879
Past due 180+ - - 6,331 - - 6,331
Loans receivable, gross $    320,145 $        35,051 $      25,188 $         - $      - $   380,384
December 31, 2011            
Current $      311,741   $         31,407   $       12,618   $          -   $       -   $    355,766  
Past due 001-029 3,696 1,195 3,517 - - 8,408
Past due 030-059 435 1,024 674 - - 2,133
Past due 060-089 58 357 46 - - 461
Past due 090-179 - - 1,095 - - 1,095
Past due 180+ - - 5,975 - - 5,975
Loans receivable, gross $     315,930 $        33,983 $      23,925 $         - $      - $   373,838
Composition of loans receivable by delinquency status
(in thousands) Current Past due Non- accrual
1-29 days 30-59 days 60-89 days 90-179 days 180 days and over 30 days and over Accruing 90 days and over
June 30, 2012                  
    Residential 1-4 family $ 185,821   $    7,039   $       562   $       534   $       97   $       731   $    1,924   $           -   $  1,185  
    Residential 5+ multifamily 3,583 - - - - - - - -
    Residential 1-4 family construction 2,065 - 413 - - - 413 - -
    Home equity credit 34,289 783 47 76 355 34 512 - 463
Residential real estate 225,758 7,822 1,022 610 452 765 2,849 - 1,648
    Commercial 77,435 3,082 733 58 427 1,492 2,710 - 2,511
    Construction of commercial 7,804 144 - - - 21 21 - 21
Commercial real estate 85,239 3,226 733 58 427 1,513 2,731 - 2,532
Farm land 3,427 14 - 377 - - 377 - -
Vacant land 7,794 - - 94 - 3,601 3,695 - 3,601
Real estate secured 322,218 11,062 1,755 1,139 879 5,879 9,652 - 7,781
Commercial and industrial 29,558 494 122 52 - 452 626 - 628
Municipal 2,689 - - - - - - - -
Consumer 3,944 112 29 - - - 29 - -
Loans receivable, gross $358,409 $ 11,668 $   1,906 $   1,191 $    879 $   6,331 $ 10,307 $          - $ 8,409
December 31, 2011                  
    Residential 1-4 family $ 182,263   $    3,772   $       811   $       121   $          -   $       709   $    1,641   $          -    $ 1,240  
    Residential 5+ multifamily 2,918 - 112 157 - - 269 - -
    Residential 1-4 family construction 5,305 - - - - - - - -
    Home equity credit 34,124 298 50 - 83 66 199   173
Residential real estate 224,610 4,070 973 278 83 775 2,109 - 1,413
    Commercial 75,486 3,887 483 180 930 992 2,585 - 2,317
    Construction of commercial 6,796 108 145 - 20 - 165 - 20
Commercial real estate 82,282 3,995 628 180 950 992 2,750 - 2,337
Farm land 4,499 46 380 - - - 380 - -
Vacant land 9,047 73 50 - - 3,658 3,708 - 3,658
Real estate secured 320,438 8,184 2,031 458 1,033 5,425 8,947 - 7,408
Commercial and industrial 28,542 152 51 1 62 550 664 - 668
Municipal 2,415 - - - - - - - -
Consumer 4,371 72 51 2 - - 53 - -
Loans receivable, gross $355,766 $  8,408 $   2,133 $      461 $ 1,095 $   5,975 $   9,664 $         - $ 8,076
Troubled debt restructurings
(in thousands) Three months ended June 30, 2012 Six months ended June 30, 2012
Quantity Pre-modification balance Post-modification balance Quantity Pre-modification balance Post-modification balance
    Residential real estate - $               - $               - 1 $            326 $            326
    Commercial and industrial 1 1,570 1,570           6            2,349            2,349
Troubled debt restructurings 1 $        1,570 $        1,570           7 $         2,675 $         2,675
    Rate reduction and term extension           - $                - $                -           2 $            373 $            373
    Debt consolidation and term extension           1          1,570          1,570           4          2,276            2,276
    Seasonal interest only concession           -                   -                   -           1                 26                 26
Troubled debt restructurings           1 $         1,570 $         1,570           7 $         2,675 $         2,675
Changes in the allowance for loan losses
(in thousands) Three months ended June 30 Six months ended June 30
Beginning balance Provision Charge-offs Reco-veries Ending balance Beginning balance Provision Charge-offs Reco-veries Ending balance
2012 Periods                    
    Residential $    1,500 $        95 $  (118) $      - $ 1,477 $      1,479 $      134 $  (136) $      - $ 1,477
    Commercial 1,061 214 - 1 1,276 1,139 135 - 2 1,276
    Land 339 (120) - - 219 409 (148) (42) - 219
Real estate 2,900 189 (118) 1 2,972 3,027 121 (178) 2 2,972
Commercial & industrial 778 38 - 5 821 704 138 (29) 8 821
Municipal 28 (1) - - 27 24 3 - - 27
Consumer 132 (41) (39) 13 65 79 17 (49) 18 65
Unallocated 328 (5) - - 323 242 81 - - 323
Totals $    4,166 $      180 $  (157) $    19 $ 4,208 $     4,076 $      360 $  (256) $    28 $ 4,208
2011 Periods                    
    Residential $    1,462 $     139 $   (20) $      2 $ 1,583 $     1,504 $      197 $  (121) $      3 $ 1,583
    Commercial 1,343 (9) (96) - 1,238 1,132 282 (175) - 1,239
    Land 296 (25) - - 271 392 (42) (79) - 271
Real estate 3,101 105 (116) 2 3,092 3,028 437 (375) 3 3,093
Commercial & industrial 531 79 (89) - 521 541 69 (89) - 521
Municipal 55 (27) - - 28 51 (23) - - 28
Consumer 167 70 (159) 13 91 164 86 (179) 19 92
Unallocated 124 123 - - 247 136 111 - - 245
Totals $    3,978 $     350 $  (364) $    15 $ 3,979 $     3,920 $     680 $  (643) $    22 $ 3,979
Composition of loans receivable and the allowance for loan losses
(in thousands) Collectively evaluated Individually evaluated Total portfolio
Loans Allowance Loans Allowance Loans Allowance
June 30, 2012            
    Residential 1-4 family $  190,514   $           762   $     4,270   $        269   $  194,784   $     1,031  
    Residential 5+ multifamily 2,842 22 741 - 3,583 22
    Construction of residential 1-4 family 2,478 12 - - 2,478 12
    Home equity credit 35,098 396 486 16 35,584 412
Residential real estate 230,932 1,192 5,497 285 236,429 1,477
    Commercial 76,898 882 6,329 288 83,227 1,170
    Construction of commercial 7,948 85 21 21 7,969 106
Commercial real estate 84,846 967 6,350 309 91,196 1,276
Farm land 3,818 63 - - 3,818 63
Vacant land 7,745 96 3,744 60 11,489 156
Real estate secured 327,341 2,318 15,591 654 342,932 2,972
Commercial and industrial 28,632 374 2,046 447 30,678 821
Municipal 2,689 27 - - 2,689 27
Consumer 4,024 39 61 26 4,085 65
Unallocated allowance - - - - - 323
Totals $362,686 $      2,758 $ 17,698 $    1,127 $ 380,384 $   4,208

 

(in thousands) Collectively evaluated Individually evaluated Total portfolio
Loans Allowance Loans Allowance Loans Allowance
December 31, 2011            
    Residential 1-4 family $  182,695   $         762   $    4,981   $       297   $  187,676   $     1,059  
    Residential 5+ multifamily 2,437 17 750 4 3,187 21
    Construction of residential 1-4 family 4,606 17 699 - 5,305 17
    Home equity credit 34,333 382 288 - 34,621 382
Residential real estate 224,071 1,178 6,718 301 230,789 1,479
    Commercial 74,419 840 7,539 202 81,958 1,042
    Construction of commercial 7,049 77 20 20 7,069 97
Commercial real estate 81,468 917 7,559 222 89,027 1,139
Farm land 4,095 35 830 150 4,925 185
Vacant land 9,021 104 3,807 120 12,828 224
Real estate secured 318,655 2,234 18,914 793 337,569 3,027
Commercial and industrial 28,091 368 1,267 336 29,358 704
Municipal 2,415 24 - - 2,415 24
Consumer 4,431 44 65 35 4,496 79
Unallocated allowance - - - - - 242
Totals $353,592 $     2,670 $ 20,246 $     1,164 $373,838 $     4,076
Credit quality segments of loans receivable and the allowance for loan losses
(in thousands) Collectively evaluated Individually evaluated Total portfolio
Loans Allowance Loans Allowance Loans Allowance
June 30, 2012            
Performing loans $  352,544   $        2,451   $         61   $         26    $ 352,605   $    2,477  
Potential problem loans 10,142 307 2,493 106 12,635 413
Impaired loans - - 15,144 995 15,144 995
Unallocated allowance - - - - - 323
Totals $362,686 $      2,758 $  17,698 $    1,127 $380,384 $   4,208
December 31, 2011            
Performing loans $  346,303   $       2,436   $       819   $         35    $ 347,122   $    2,471  
Potential problem loans 7,289 234 6,750 255 14,039 489
Impaired loans - - 12,677 874 12,677 874
Unallocated allowance - - - - - 242
Totals $353,592 $      2,670 $ 20,246 $    1,164 $373,838 $   4,076
Certain data with respect to impaired loans
(in thousands) Impaired loans with specific allowance Impaired loans with no specific allowance
Loan balance

Specific

allowance

Income

recognized

Loan balance

Income

recognized

Book Note Average Book Note Average
June 30, 2012                  
    Residential 1-4 family $ 1,892   $ 2,087   $   2,178   $      214    $        45   $ 1,587   $ 1,614   $   1,321   $          7  
    Home equity credit 149 209 72 16 - 314 337 208 3
Residential real estate 2,041 2,296 2,250 230 45 1,901 1,951 1,529 10
Commercial 1,866 2,008 1,879 309 14 3,718 4,146 2,722 31
Vacant land 134 154 331 10 2 3,467 4,236 3,297 -
Real estate secured 4,041 4,458 4,460 549 61 9,086 10,333 7,548 41
Commercial and industrial 1,057 1,142 823 446 - 960 1,710 844 28
Consumer - - - - - - 143 - -
Totals $5,098 $5,600 $   5,283 $      995 $        61 $10,046 $12,186 $   8,392 $        69

 

(in thousands) Impaired loans with specific allowance Impaired loans with no specific allowance
Loan balance

Specific

allowance

Income

recognized

Loan balance

Income

recognized

Book Note Average Book Note Average
December 31, 2011                  
    Residential 1-4 family $ 3,012   $ 3,160   $   1,822   $      266   $        38   $    390   $    426   $   3,875   $          -  
    Home equity credit - - - - - 173 177 227 -
Residential real estate 3,012 3,160 1,822 266 38 563 603 4,102 -
Commercial 2,151 2,405 2,550 203 77 2,157 2,612 2,175 37
Vacant land 594 774 639 70 - 3,063 3,627 3,243 -
Real estate secured 5,757 6,339 5,011 539 115 5,783 6,842 9,520 37
Commercial and industrial 560 639 364 335 - 577 1,221 876 16
Consumer - - - - - - 142 14 -
Totals $6,317 $6,978 $   5,375 $      874 $      115 $6,360 $8,205 $ 10,410 $        53