Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2015

Loans and Allowance for Loan Losses [Abstract]

Allowance for loan losses and recorded investment in loans receivable

Allowance for Loan Losses and Recorded Investment in Loans Receivable

	As of and for the Three Months Ended March 31, 2015
(In thousands)	Commercial and Industrial			Commercial Real Estate		Construction and Land			Consumer			Student			Residential Real Estate		Home Equity Line of Credit		Unallocated			Total
Allowance for Loan Losses
Beginning balance at 12/31/2014	$	516		$	1,943	$	699		$	37		$	72		$	1,424	$	296	$	404		$	5,391
Charge-offs		-			-		-			-			(14	)		-		-		-			(14	)
Recoveries		-			-		-			8			-			-		1		-			9
Provision		(179	)		120		(136	)		(13	)		24			201		50		(67	)		-
Ending balance at 3/31/2015	$	337		$	2,063	$	563		$	32		$	82		$	1,625	$	347	$	337		$	5,386
Ending balances individually evaluated for impairment	$	160		$	449	$	307		$	-		$	-		$	171	$	49	$	-		$	1,136
Ending balances collectively evaluated for impairment	$	177		$	1,614	$	256		$	32		$	82		$	1,454	$	298	$	337		$	4,250
Loans Receivable
Individually evaluated for impairment	$	293		$	3,261	$	3,604		$	-		$	-		$	1,613	$	119				$	8,890
Collectively evaluated for impairment		29,596			162,150		35,164			3,056			18,620			145,194		42,034					435,814
Ending balance at 3/31/2015	$	29,889		$	165,411	$	38,768		$	3,056		$	18,620		$	146,807	$	42,153				$	444,704

	As of and for the Year Ended December 31, 2014
(In thousands)	Commercial and Industrial			Commercial Real Estate			Construction and Land			Consumer			Student			Residential Real Estate			Home Equity Line of Credit			Unallocated		Total
Allowance for Loan Losses
Beginning balance at 12/31/2013	$	964		$	2,320		$	412		$	18		$	196		$	1,261		$	1,314		$	182	$	6,667
Charge-offs		(171	)		(560	)		(313	)		(18	)		(139	)		(172	)		(91	)		-		(1,464	)
Recoveries		86			-			65			10			-			22			5			-		188
Provision		(363	)		183			535			27			15			313			(932	)		222		-
Ending balance at 12/31/2014	$	516		$	1,943		$	699		$	37		$	72		$	1,424		$	296		$	404	$	5,391
Ending balances individually  evaluated for impairment	$	246		$	456		$	470		$	-		$	-		$	173		$	-		$	-	$	1,345
Ending balances collectively  evaluated for impairment	$	270		$	1,487		$	229		$	37		$	72		$	1,251		$	296		$	404	$	4,046
Loans Receivable
Individually evaluated for impairment	$	316		$	3,272		$	3,620		$	-		$	-		$	1,550		$	70				$	8,828
Collectively evaluated for impairment		26,608			162,256			35,465			3,015			19,700			141,927			42,662					431,633
Ending balance at 12/31/2014	$	26,924		$	165,528		$	39,085		$	3,015		$	19,700		$	143,477		$	42,732				$	440,461

Credit quality indicators

The Company's allowance for loan losses has three basic components: the specific allowance, the general allowance, and the unallocated components. The specific allowance is used to individually allocate an allowance for larger balance, non-homogeneous loans identified as impaired. The general allowance is used for estimating the loss on pools of smaller-balance, homogeneous loans; including 1-4 family mortgage loans, installment loans and other consumer loans. Also, the general allowance is used for the remaining pool of larger balance, non-homogeneous loans which were not identified as impaired.  The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio.

Credit Quality Indicators

	As of March 31, 2015
(In thousands)	Commercial and Industrial		Commercial Real Estate		Construction and Land		Consumer		Student		Residential Real Estate		Home Equity Line of Credit		Total
Grade:
Pass	$	26,539	$	151,873	$	30,562	$	3,052	$	18,620	$	136,593	$	37,595	$	404,834
Special mention		1,781		6,170		4,926		-		-		2,416		1,972		17,265
Substandard		1,569		7,368		3,137		4		-		7,109		2,537		21,724
Doubtful		-		-		143		-		-		689		49		881
Loss		-		-		-		-		-		-		-		-
Total	$	29,889	$	165,411	$	38,768	$	3,056	$	18,620	$	146,807	$	42,153	$	444,704

	December 31, 2014
(In thousands)	Commercial and Industrial		Commercial Real Estate		Construction and Land		Consumer		Student		Residential Real Estate		Home Equity Line of Credit		Total
Grade:
Pass	$	23,255	$	154,106	$	31,127	$	2,990	$	19,700	$	132,168	$	37,423	$	400,769
Special mention		1,917		3,992		3,687		21		-		2,299		2,663		14,579
Substandard		1,752		7,430		4,271		4		-		9,010		2,587		25,054
Doubtful		-		-		-		-		-		-		59		59
Loss		-		-		-		-		-		-		-		-
Total	$	26,924	$	165,528	$	39,085	$	3,015	$	$19,700	$	143,477	$	42,732	$	440,461

Age analysis of past due loans receivable

Age Analysis of Past Due Loans Receivable

	As of March 31, 2015
(In thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Financing Receivables		Carrying Amount > 90 Days and Accruing		Nonaccruals
Commercial and industrial	$	156	$	88	$	127	$	371	$	29,518	$	29,889	$	2	$	156
Commercial real estate		96		912		-		1,008		164,403		165,411		-		96
Construction and land		-		143		-		143		38,625		38,768		-		144
Consumer		18		4		-		22		3,034		3,056		-		-
Student (U.S. Government guaranteed)		1,836		1,069		2,721		5,626		12,994		18,620		2,721		-
Residential real estate		1,215		474		1,089		2,778		144,029		146,807		-		1,147
Home equity line of credit		630		129		50		809		41,344		42,153		-		50
Total	$	3,951	$	2,819	$	3,987	$	10,757	$	433,947	$	444,704	$	2,723	$	1,593

	As of December 31, 2014
(In thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Financing Receivables		Carrying Amount > 90 Days and Accruing		Nonaccruals
Commercial and industrial	$	140	$	106	$	-	$	246	$	26,678	$	26,924	$	-	$	166
Commercial real estate		444		-		-		444		165,084		165,528		-		98
Construction and land		551		145		-		696		38,389		39,085		-		1
Consumer		8		18		-		26		2,989		3,015		-		-
Student (U.S. Government guaranteed)		1,445		830		4,551		6,826		12,874		19,700		4,551		-
Residential real estate		798		1,242		459		2,499		140,978		143,477		-		962
Home equity line of credit		50		108		-		158		42,574		42,732		-		-
Total	$	3,436	$	2,449	$	5,010	$	10,895	$	429,566	$	440,461	$	4,551	$	1,227

Impaired loans receivable

Impaired Loans Receivable

	March 31, 2015
(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no specific allowance recorded:
Commercial and industrial	$	79	$	105	$	-	$	82	$	2
Commercial real estate		1,434		2,001		-		1,436		16
Construction and land		2,332		2,649		-		2,336		26
Student (U.S. Government guaranteed)		-		-		-		-		-
Residential real estate		826		998		-		828		4
Home equity line of credit		70		70		-		70		-
Consumer		-		-		-		-		-
With an allowance recorded:
Commercial and industrial	$	214	$	222	$	160	$	217	$	1
Commercial real estate		1,827		1,827		449		1,831		22
Construction and land		1,272		1,272		307		1,275		17
Student (U.S. Government guaranteed)		-		-		-		-		-
Residential real estate		787		787		171		787		5
Home equity line of credit		49		49		49		49		-
Consumer		-		-		-		-		-
Total:
Commercial and industrial	$	293	$	327	$	160	$	299	$	3
Commercial real estate		3,261		3,828		449		3,267		38
Construction and land		3,604		3,921		307		3,611		43
Student (U.S. Government guaranteed)		-		-		-		-		-
Residential real estate		1,613		1,785		171		1,615		9
Home equity line of credit		119		119		49		119		-
Consumer		-		-		-		-		-
Total	$	8,890	$	9,980	$	1,136	$	8,911	$	93

	December 31, 2014
(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no specific allowance recorded:
Commercial and industrial	$	20	$	50	$	-	$	33	$	-
Commercial real estate		1,438		2,006		-		1,722		108
Construction and land		1,577		1,893		-		1,737		79
Student (U.S. Government guaranteed)		-		-		-		-		-
Residential real estate		1,220		1,477		-		1,351		19
Home equity line of credit		70		70		-		70		3
Consumer		-		-		-		-		-
With an allowance recorded:
Commercial and industrial	$	296	$	304	$	246	$	312	$	11
Commercial real estate		1,834		1,834		456		1,835		102
Construction and land		2,043		2,043		470		2,064		110
Student (U.S. Government guaranteed)		-		-		-		-		-
Residential real estate		330		338		173		445		21
Home equity line of credit		-		-		-		-		-
Consumer		-		-		-		-		-
Total:
Commercial and industrial	$	316	$	354	$	246	$	345	$	11
Commercial real estate		3,272		3,840		456		3,557		210
Construction and land		3,620		3,936		470		3,801		189
Student (U.S. Government guaranteed)		-		-		-		-		-
Residential real estate		1,550		1,815		173		1,796		40
Home equity line of credit		70		70		-		70		3
Consumer		-		-		-		-		-
Total	$	8,828	$	10,015	$	1,345	$	9,569	$	453

Non-performing assets, restructured loans still accruing, and loans contractually past due

 Non-performing Assets, Restructured Loans Still Accruing, and Loans Contractually Past Due

(Dollars in thousands)	March 31, 2015			December 31, 2014			March 31, 2014
Non-accrual loans	$	1,593		$	1,227		$	2,002
Other real estate owned		1,406			1,406			1,406
Non-performing corporate bond investments, at fair value		-			-			1,861
Total non-performing assets		2,999			2,633			5,269
Restructured loans still accruing		7,402			7,431			8,598
Student loans (U.S. Government guaranteed) past due 90 days or more and still accruing		2,721			4,551			7,017
Loans past due 90 or more days and still accruing		2			-			358
Total non-performing and other risk assets	$	13,124		$	14,615		$	21,242
Allowance for loan losses to total loans		1.21	%		1.22	%		1.49	%
Non-accrual loans to total loans		0.36	%		0.28	%		0.45	%
Allowance for loan losses to non-accrual loans		338.10	%		439.36	%		331.22	%
Total non-accrual loans and restructured loans still accruing to total loans		2.02	%		1.97	%		2.38	%
Allowance for loan losses to non-accrual loans and  restructured loans still accruing		59.88	%		62.27	%		62.56	%
Total non-performing assets to total assets		0.50	%		0.43	%		0.87	%