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LOANS
 6 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
LOANS

NOTE 3 – LOANS

The composition of loans receivable and loans held-for-sale is as follows:

(In thousands)    June 30, 2020     December 31, 2019  
Residential 1-4 family  $357,518   $346,299 
Residential 5+ multifamily   38,353    35,455 
Construction of residential 1-4 family   11,041    11,889 
Home equity lines of credit   30,286    33,798 
Residential real estate   437,198    427,441 
Commercial   309,935    289,795 
Construction of commercial   13,699    8,466 
Commercial real estate   323,634    298,261 
Farm land   3,324    3,641 
Vacant land   13,879    7,893 
Real estate secured   778,035    737,236 
Commercial and industrial (1)   247,440    169,411 
Municipal   20,707    21,914 
Consumer   7,886    6,385 
Loans receivable, gross   1,054,068    934,946 
Deferred loan origination (fees) and costs, net   (1,339)   1,362 
Loans receivable, gross  $1,052,729   $936,308 
Allowance for loan losses   (12,371)   (8,895)
Loans receivable, net  $1,040,358   $927,413 
Loans held-for-sale          
Residential 1-4 family  $5,313   $332 

(1) Commercial and industrial balance as of June 30, 2020 includes $98.9 million of Paycheck Protection Program loans.

Salisbury has entered into loan participation agreements with other banks and transferred a portion of its originated loans to the participating banks. Transferred amounts are accounted for as sales and excluded from Salisbury's loans receivable. Salisbury and its participating lenders share ratably in any gains or losses that may result from a borrower's lack of compliance with contractual terms of the loan. Salisbury services the loans on behalf of the participating lenders and, as such, collects cash payments from the borrowers, remits payments (net of servicing fees) to participating lenders and disburses required escrow funds to relevant parties.

Salisbury also has entered into loan participation agreements with other banks and purchased a portion of the other banks' originated loans.  Purchased amounts are accounted for as loans without recourse to the originating bank.  Salisbury and its originating lenders share ratably in any gains or losses that may result from a borrower's lack of compliance with contractual terms of the loan.  The originating banks service the loans on behalf of the participating lenders and, as such, collect cash payments from the borrowers, remit payments (net of servicing fees) to participating lenders and disburse required escrow funds to relevant parties. 

At June 30, 2020 and December 31, 2019, Salisbury serviced commercial loans for other banks under loan participation agreements totaling $61.9 million and $67.0 million, respectively.

Concentrations of Credit Risk

Salisbury's loans consist primarily of residential and commercial real estate loans located principally in Litchfield County, Connecticut; Dutchess, Orange and Ulster Counties, New York; and Berkshire County, Massachusetts, which constitute Salisbury's service area. Salisbury offers a broad range of loan and credit facilities to borrowers in its service area, including residential mortgage loans, commercial real estate loans, construction loans, working capital loans, equipment loans, and a variety of consumer loans, including home equity lines of credit, installment loans and collateral loans. All residential and commercial mortgage loans are collateralized by first or second mortgages on real estate. The ability of single family residential and consumer borrowers to honor their repayment commitments is generally dependent on the level of overall economic activity within the market area and real estate values. The ability of commercial borrowers to honor their repayment commitments is dependent on the general economy as well as the health of the real estate economic sector in Salisbury's market area.

Salisbury's commercial loan portfolio is comprised of loans to diverse industries, several of which may experience operating challenges from the economic downturn caused by the COVID-19 virus pandemic (“virus”). Approximately 35% of the Bank's commercial gross loans receivable are to entities who operate rental properties, which include commercial strip malls, smaller rental units as well as multi-unit dwellings. Approximately 15% of the Bank's gross commercial loan receivables is to entities in the hospitality industry, which includes hotels, bed & breakfast inns and restaurants. Approximately 8% of gross commercial loan receivables is to educational institutions and approximately 5% of Salisbury's gross commercial loan receivables is to entertainment and recreation related businesses, which include a ski resort, bowling alleys and amusement parks. Salisbury's commercial loan exposure is mitigated by a variety of factors including the personal liquidity of the borrower, real estate and/or non-real estate collateral, U.S. Department of Agriculture or Small Business Administration (“SBA”) guarantees, loan payment deferrals and economic stimulus loans from the U.S. government as a result of the virus, and other factors. The duration of the economic shutdown and the time required for businesses to recover may adversely affect the ability of some borrowers to make timely loan payments. During such economic shutdown and recovery, the Bank may experience higher loan payment delinquencies and higher loan charge-offs, which could warrant increased provisions for loan losses.

Credit Quality

Salisbury uses credit risk ratings as part of its determination of the allowance for loan losses. Credit risk ratings categorize loans by common financial and structural characteristics that measure the credit strength of a borrower. The rating model has eight risk rating grades, with each grade corresponding to a progressively greater risk of default. Grades 1 through 4 are pass ratings and 5 through 8 are criticized as defined by the regulatory agencies. Risk ratings are assigned to differentiate risk within the portfolio and are reviewed on an ongoing basis and revised, if needed, to reflect changes in the borrowers' current financial position and outlook, risk profiles and the related collateral and structural positions.

Loans rated as "special mention" (5) possess credit deficiencies or potential weaknesses deserving management's close attention that if left uncorrected may result in deterioration of the repayment prospects for the loans at some future date.

Loans rated as "substandard" (6) are loans where the Bank's position is clearly not protected adequately by borrower current net worth or payment capacity. These loans have well defined weaknesses based on objective evidence and include loans where future losses to the Bank may result if deficiencies are not corrected, and loans where the primary source of repayment such as income is diminished and the Bank must rely on sale of collateral or other secondary sources of collection.

Loans rated "doubtful" (7) have the same weaknesses as substandard loans with the added characteristic that the weakness makes collection or liquidation in full, given current facts, conditions, and values, to be highly improbable. The possibility of loss is high, but due to certain important and reasonably specific pending factors, which may work to strengthen the loan, its reclassification as an estimated loss is deferred until its exact status can be determined.

Loans classified as "loss" (8) are considered uncollectible and of such little value that continuance as Bank assets is unwarranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather, it is not practical or desirable to defer writing off this loan even though partial recovery may be made in the future.

Management actively reviews and tests its credit risk ratings against actual experience and engages an independent third-party to annually validate its assignment of credit risk ratings. In addition, the Bank's loan portfolio is examined periodically by its regulatory agencies, the Federal Deposit Insurance Corporation (“FDIC”) and the Connecticut Department of Banking (“CTDOB”).

The composition of loans receivable by risk rating grade is as follows:

(in thousands)  Pass  Special mention  Substandard  Doubtful  Loss  Total
June 30, 2020                              
Residential 1-4 family  $350,494   $3,357   $3,667   $—   $—   $357,518 
Residential 5+ multifamily   36,539    96    1,718    —    —    38,353 
Construction of residential 1-4 family   11,041    —    —    —    —    11,041 
Home equity lines of credit   29,689    332    265    —    —    30,286 
Residential real estate   427,763    3,785    5,650    —    —    437,198 
Commercial   292,546    3,081    14,237    71    —    309,935 
Construction of commercial   13,464    —    235    —    —    13,699 
Commercial real estate   306,010    3,081    14,472    71    —    323,634 
Farm land   1,637    —    1,687    —    —    3,324 
Vacant land   13,785    55    39    —    —    13,879 
Real estate secured   749,195    6,921    21,848    71    —    778,035 
Commercial and industrial   245,768    581    731    360    —    247,440 
Municipal   20,707    —    —    —    —    20,707 
Consumer   7,851    3    32    —    —    7,886 
Loans receivable, gross  $1,023,521   $7,505   $22,611   $431   $—   $1,054,068 
(in thousands)  Pass  Special mention  Substandard  Doubtful  Loss  Total
December 31, 2019                              
Residential 1-4 family  $337,302   $4,278   $4,719   $—   $—   $346,299 
Residential 5+ multifamily   33,619    99    1,737    —    —    35,455 
Construction of residential 1-4 family   11,889    —    —    —    —    11,889 
Home equity lines of credit   33,381    312    105    —    —    33,798 
Residential real estate   416,191    4,689    6,561    —    —    427,441 
Commercial   271,708    10,964    7,052    71    —    289,795 
Construction of commercial   8,225    —    241    —    —    8,466 
Commercial real estate   279,933    10,964    7,293    71    —    298,261 
Farm land   1,934    —    1,707    —    —    3,641 
Vacant land   7,834    59    —    —    —    7,893 
Real estate secured   705,892    15,712    15,561    71    —    737,236 
Commercial and industrial   167,458    443    1,510    —    —    169,411 
Municipal   21,914    —    —    —    —    21,914 
Consumer   6,344    3    38    —    —    6,385 
Loans receivable, gross  $901,608   $16,158   $17,109   $71   $—   $934,946 

The composition of loans receivable by delinquency status is as follows:

      Past due   
                         
               180  30  Accruing   
(in thousands)          days  days  90 days 
      30-59  60-89  90-179  and  and  and  Non-
    Current  days  days  days  over  over  over  accrual
June 30, 2020                        
Residential 1-4 family  $356,297   $349   $618   $217   $37   $1,221   $—   $1,410 
Residential 5+ multifamily   37,492    —    —    —    861    861    —    861 
Construction of residential 1-4 family   11,041    —    —    —    —    —    —    — 
Home equity lines of credit   29,825    62    159    73    167    461    —    265 
Residential real estate   434,655    411    777    290    1,065    2,543    —    2,536 
Commercial   308,473    954    —    437    71    1,462    —    1,281 
Construction of commercial   13,699    —    —    —    —    —    —    — 
Commercial real estate   322,172    954    —    437    71    1,462    —    1,281 
Farm land   3,155    —    169    —    —    169    —    174 
Vacant land   13,879    —    —    —    —    —    —    39 
Real estate secured   773,861    1,365    946    727    1,136    4,174    —    4,030 
Commercial and industrial   246,535    781    —    —    124    905    11    774 
Municipal   20,707    —    —    —    —    —    —    — 
Consumer   7,853    3    30    —    —    33    —    — 
Loans receivable, gross  $1,048,956   $2,149   $976   $727   $1,260   $5,112   $11   $4,804 

      Past due   
                         
               180  30  Accruing   
(in thousands)          days  days  90 days 
      30-59  60-89  90-179  and  and  and  Non-
    Current  days  days  days  over  over  over  accrual
December 31, 2019                        
Residential 1-4 family  $344,085   $971   $351   $200   $692   $2,214   $—   $1,551 
Residential 5+ multifamily   34,594    —    —    —    861    861    —    861 
Construction of residential 1-4 family   11,889    —    —    —    —    —    —    — 
Home equity lines of credit   33,522    152    46    —    78    276    —    105 
Residential real estate   424,090    1,123    397    200    1,631    3,351    —    2,517 
Commercial   289,103    336    141    71    144    692    —    914 
Construction of commercial   8,466    —    —    —    —    —    —    — 
Commercial real estate   297,569    336    141    71    144    692    —    914 
Farm land   3,461    180    —    —    —    180    —    186 
Vacant land   7,852    —    41    —    —    41    —    — 
Real estate secured   732,972    1,639    579    271    1,775    4,264    —    3,617 
Commercial and industrial   169,262    2    146    1    —    149    1    — 
Municipal   21,914    —    —    —    —    —    —    — 
Consumer   6,382    —    1    2    —    3    2    — 
Loans receivable, gross  $930,530   $1,641   $726   $274   $1,775   $4,416   $3   $3,617 

 

Troubled Debt Restructurings (TDRs)

Troubled debt restructurings are as follows:

   For the three months ending June 30, 2020  For the three months ending June 30, 2019
(in thousands)  Quantity  Pre-modification balance  Post-modification balance  Quantity  Pre-modification balance  Post-modification balance
Residential real estate   —   $—   $—    2   $623   $623 
Commercial real estate   —    —    —    —    —    — 
Consumer   —    —    —    1    42    42 
Troubled debt restructurings   —   $—   $—    3   $665   $665 
Interest only payments to sell property   —   $—   $—    —   $—   $— 
Rate reduction   —    —    —    3    665    665 
Modification and Rate reduction   —    —    —    —    —    — 
Workout refinance. Extension of new funds to pay outstanding taxes   —    —    —    —    —    — 
Modification and term extension   —    —    —    —    —    — 
Troubled debt restructurings   —   $—   $—    3   $665   $665 

 

   For the six months ending June 30, 2020  For the six months ending June 30, 2019
(in thousands)  Quantity  Pre-modification balance  Post-modification balance  Quantity  Pre-modification balance  Post-modification balance
Residential real estate   —   $—   $—    2   $623   $623 
Commercial real estate   1    133    133    —    —    — 
Consumer   —    —    —    1    42    42 
Troubled debt restructurings   1   $133   $133    3   $665   $665 
Interest only payments to sell property   —   $—   $—    —   $—   $— 
Rate reduction   —    —    —    3    665    665 
Modification and Rate reduction   —    —    —    —    —    — 
Workout refinance. Extension of new funds to pay outstanding taxes   1    133    133    —    —    — 
Modification and term extension   —    —    —    —    —    — 
Troubled debt restructurings   1   $133   $133    3   $665   $665 

For the second quarter 2020, there were no troubled debt restructurings, and for the same period in 2019, two residential loans with a combined loan balance of $623 thousand and one consumer loan of $42 thousand were modified in troubled debt restructurings for rate reductions. For the six months ended June 2020, one troubled debt restructuring of $133 thousand was modified to extend new funds to pay outstanding taxes and for the same period in 2019, three troubled debt restructurings with a combined loan balance of $665 thousand were modified for a rate reduction.

Allowance for Loan Losses

Changes in the allowance for loan losses are as follows:

  Three months ended June 30, 2020  Three months ended June 30, 2019
(in thousands)  Beginning balance  Provision (Benefit)  Charge-offs  Reco-veries  Ending balance  Beginning balance  Provision (Benefit)  Charge-offs  Reco-veries  Ending balance
Residential 1-4 family  $2,706   $342   $—   $—   $3,048   $1,980   $95   ($1)  $—   $2,074 
Residential 5+ multifamily   508    122    (41)   —    589    466    29    —    —    495 
Construction of residential 1-4 family   87    —    —    —    87    77    2    —    —    79 
Home equity lines of credit   278    5    —    —    283    209    15    —    —    224 
Residential real estate   3,579    469    (41)   —    4,007    2,732    141    (1)   —    2,872 
Commercial   4,519    645    (4)   —    5,160    3,803    (13)   (14)   1    3,777 
Construction of commercial   126    79    —    —    205    143    (16)   —    —    127 
Commercial real estate   4,645    724    (4)   —    5,365    3,946    (29)   (14)   1    3,904 
Farm land   52    8    —    —    60    47    —    —    —    47 
Vacant land   144    38    —    —    182    89    —    —    —    89 
Real estate secured   8,420    1,239    (45)   —    9,614    6,814    112    (15)   1    6,912 
Commercial and industrial   1,071    444    —    —    1,515    1,233    (67)   (19)   29    1,176 
Municipal   53    (17)   —    —    36    14    16    —    —    30 
Consumer   102    (20)   (13)   5    74    51    40    (18)   8    81 
Unallocated   972    160    —    —    1,132    638    50    —    —    688 
Totals  $10,618   $1,806   ($58)  $5   $12,371   $8,750   $151   ($52)  $38   $8,887 

In first quarter 2019 Salisbury transferred the remaining unearned credit-related discount on loans acquired in its 2014 acquisition of Riverside Bank to the allowance for loan loss reserves. As a result of this transfer, which is reflected in the table below as the “acquisition discount transfer”, gross loans receivable and the allowance for loan losses increased by $663 thousand. The balance of net loans receivable did not change as a result of this transfer.

   Six months ended June 30, 2020  Six months ended June 30, 2019
(in thousands)  Beginning balance  Provision  Charge- offs  Reco- veries  Ending balance  Beginning balance  Acquisition Discount Transfer  Provision  Charge- offs  Reco- veries  Ending balance
Residential 1-4 family  $2,393   $647   $—   $8   $3,048   $2,149   $10   ($85)  $(1)  $1   $2,074 
Residential 5+ multifamily   446    185    (42)   —    589    413    —    82    —    —    495 
Construction of residential 1-4 family   75    12    —    —    87    83    —    (4)   —    —    79 
Home equity lines of credit   197    86    —    —    283    219    1    4    —    —    224 
Residential real estate   3,111    930    (42)   8    4,007    2,864    11    (3)   (1)   1    2,872 
Commercial   3,742    1,402    (3)   19    5,160    3,048    488    262    (23)   2    3,777 
Construction of commercial   104    101    —    —    205    122    —    5    —    —    127 
Commercial real estate   3,846    1,503    (3)   19    5,365    3,170    488    267    (23)   2    3,904 
Farm land   47    13    —    —    60    33    —    14    —    —    47 
Vacant land   71    111    —    —    182    100    —    (11)   —    —    89 
Real estate secured   7,075    2,557    (45)   27    9,614    6,167    499    267    (24)   3    6,912 
Commercial and industrial   1,145    370    —    —    1,515    1,158    164    (127)   (50)   31    1,176 
Municipal   46    (10)   —    —    36    12    —    18    —    —    30 
Consumer   60    32    (25)   7    74    56    —    37    (24)   12    81 
Unallocated   569    563    —    —    1,132    438    —    250    —    —    688 
Totals  $8,895   $3,512   ($70)  $34   $12,371   $7,831   $663   $445   ($98)  $46   $8,887 

 

The composition of loans receivable and the allowance for loan losses is as follows:

  (in thousands)  Collectively evaluated 1  Individually evaluated 1  Total portfolio
    Loans    Allowance    Loans    Allowance    Loans    Allowance 
June 30, 2020                              
Residential 1-4 family  $352,590   $2,642   $4,928   $406   $357,518   $3,048 
Residential 5+ multifamily   37,382    589    971    —    38,353    589 
Construction of residential 1-4 family   11,041    87    —    —    11,041    87 
Home equity lines of credit   30,021    263    265    20    30,286    283 
Residential real estate   431,034    3,581    6,164    426    437,198    4,007 
Commercial   305,393    4,836    4,542    324    309,935    5,160 
Construction of commercial   13,699    205    —    —    13,699    205 
Commercial real estate   319,092    5,041    4,542    324    323,634    5,365 
Farm land   3,150    60    174    —    3,324    60 
Vacant land   13,705    179    174    3    13,879    182 
Real estate secured   766,981    8,861    11,054    753    778,035    9,614 
Commercial and industrial   246,544    1,139    896    376    247,440    1,515 
Municipal   20,707    36    —    —    20,707    36 
Consumer   7,855    55    31    19    7,886    74 
Unallocated allowance   —    1,132    —    —    —    1,132 
Totals  $1,042,087   $11,223   $11,981   $1,148   $1,054,068   $12,371 

 

 

  (in thousands)  Collectively evaluated 1  Individually evaluated 1  Total portfolio
    Loans    Allowance    Loans    Allowance    Loans    Allowance 
December 31, 2019                              
Residential 1-4 family  $340,847   $2,117   $5,452   $276   $346,299   $2,393 
Residential 5+ multifamily   34,478    446    977    —    35,455    446 
Construction of residential 1-4 family   11,889    75    —    —    11,889    75 
Home equity lines of credit   33,693    197    105    —    33,798    197 
Residential real estate   420,907    2,835    6,534    276    427,441    3,111 
Commercial   285,462    3,333    4,333    409    289,795    3,742 
Construction of commercial   8,466    104    —    —    8,466    104 
Commercial real estate   293,928    3,437    4,333    409    298,261    3,846 
Farm land   3,455    47    186    —    3,641    47 
Vacant land   7,713    66    180    5    7,893    71 
Real estate secured   726,003    6,385    11,233    690    737,236    7,075 
Commercial and industrial   169,285    1,143    126    2    169,411    1,145 
Municipal   21,914    46    —    —    21,914    46 
Consumer   6,349    59    36    1    6,385    60 
Unallocated allowance   —    569    —    —    —    569 
Totals  $923,551   $8,202   $11,395   $693   $934,946   $8,895 

1 For a further discussion of the allowance for loan losses, see “Provision and allowance for loan losses” in Management’s Discussion and Analysis of Financial Conditions and Results of Operations.

 

The credit quality segments of loans receivable and the allowance for loan losses are as follows:

June 30, 2020 (in thousands) Collectively evaluated  Individually evaluated  Total portfolio
    Loans    Allowance    Loans    Allowance    Loans   Allowance 
Performing loans  $1,027,217   $9,157   $—   $—   $1,027,217   $9,157 
Potential problem loans 1   14,870    934    —    —    14,870    934 
Impaired loans   —    —    11,981    1,148    11,981    1,148 
Unallocated allowance   —    1,132    —    —    —    1,132 
Totals  $1,042,087   $11,223   $11,981   $1,148   $1,054,068   $12,371 

 

 

December 31, 2019 (in thousands) Collectively evaluated  Individually evaluated  Total portfolio
    Loans    Allowance    Loans    Allowance    Loans   Allowance 
Performing loans  $913,648   $7,251   $—   $—   $913,648   $7,251 
Potential problem loans 1   9,903    382    —    —    9,903    382 
Impaired loans   —    —    11,395    693    11,395    693 
Unallocated allowance   —    569    —    —    —    569 
Totals  $923,551   $8,202   $11,395   $693   $934,946   $8,895 

1 Potential problem loans consist of performing loans that have been assigned a substandard credit risk rating and are not classified as impaired.

A specific valuation allowance is established for the impairment amount of each impaired loan, calculated using the present value of expected cash flows or fair value of collateral, in accordance with the most likely means of recovery. Certain data with respect to loans individually evaluated for impairment is as follows:

   Impaired loans with specific allowance   Impaired loans with no specific allowance
(in thousands)  Loan balance           Loan balance     
    Recorded Investment    Note    Average    Specific allowance    Income recognized    Recorded Investment    Note    Average    Income recognized 
June 30, 2020                           
Residential  $4,203   $4,345   $4,066   $406   $45   $1,696   $2,043   $1,919   $13 
Home equity lines of credit   227    540    79    20    —    38    74    100    — 
Residential real estate   4,430    4,885    4,145    426    45    1,734    2,117    2,019    13 
Commercial   3,727    3,818    3,452    324    75    816    1,411    899    16 
Construction of commercial   —    —    —    —    —    —    —    —    — 
Farm land   —    —    —    —    —    174    325    181    — 
Vacant land   39    41    40    3    —    134    151    137    5 
Real estate secured   8,196    8,744    7,637    753    120    2,858    4,004    3,236    34 
Commercial and industrial   896    901    241    376    7    —    151    64    — 
Consumer   31    31    34    19    1    —    —    —    — 
Totals  $9,123   $9,676   $7,912   $1,148   $128   $2,858   $4,155   $3,300   $34 

Note: The income recognized is for the six month period ended June 30, 2020.

   Impaired loans with specific allowance   Impaired loans with no specific allowance
(in thousands)  Loan balance           Loan balance     
    Recorded Investment    Note    Average    Specific allowance    Income recognized    Recorded Investment    Note    Average    Income recognized 
June 30, 2019                           
Residential  $4,629   $4,985   $3,032   $172   $66   $1,991   $2,659   $3,299   $13 
Home equity lines of credit   43    43    45    1    1    483    575    442    — 
Residential real estate   4,672    5,028    3,077    173    67    2,474    3,234    3,741    13 
Commercial   2,565    2,571    2,239    186    51    1,236    2,519    2,287    27 
Construction of commercial   —    —    143    —    —    —    3    72    — 
Farm land   —    —    —    —    —    204    428    211    — 
Vacant land   42    42    42    2    1    143    163    145    5 
Real estate secured   7,279    7,641    5,501    361    119    4,057    6,347    6,456    45 
Commercial and industrial   3    3    —    —    —    135    236    395    3 
Consumer   41    41    6    35    —    —    —    6    — 
Totals  $7,323   $7,685   $5,507   $396   $119   $4,192   $6,583   $6,857   $48 

Note: The income recognized is for the six month period ended June 30, 2019.

Certain data with respect to loans individually evaluated for impairment is as follows as of and for the year ended December 31, 2019:

   Impaired loans with specific allowance   Impaired loans with no specific allowance
(in thousands)  Loan balance           Loan balance     
    Recorded Investment    Note    Average    Specific allowance    Income recognized    Recorded Investment    Note    Average    Income recognized 
December 31, 2019                           
Residential  $4,111   $4,190   $3,725   $276   $162   $2,318   $3,081   $2,940   $52 
Home equity lines of credit   —    —    52    —    —    105    450    391    — 
Residential real estate   4,111    4,190    3,777    276    162    2,423    3,531    3,331    52 
Commercial   3,309    3,335    2,574    409    90    1,024    1,733    1,747    54 
Construction of commercial   —    —    77    —    —    —    —    39    — 
Farm land   —    —    —    —    —    186    329    203    — 
Vacant land   41    41    42    5    3    139    157    143    10 
Real estate secured   7,461    7,566    6,470    690    255    3,772    5,750    5,463    116 
Commercial and industrial   93    97    16    2    4    33    188    265    4 
Consumer   36    36    21    1    —    —    —    3    — 
Totals  $7,590   $7,699   $6,507   $693   $259   $3,805   $5,938   $5,731   $120