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TROUBLED DEBT RESTRUCTURINGS

6 Months Ended

Jun. 30, 2018

NOTE 8 TROUBLED DEBT RESTRUCTURINGS:

At June 30, 2018 there were 5.8 million in loans that are classified as troubled debt restructurings compared to $6.9 million at December 31, 2017. The following table presents information related to loans modified as troubled debt restructurings during the six and three months ended June 30, 2018 and 2017.

	For the six months ended June 30, 2018					For the six months ended June 30, 2017
Troubled Debt Restructurings (Dollars are in thousands)	# of Loans		Pre-Mod. Recorded Investment		Post-Mod. Recorded Investment	# of Loans		Pre-Mod. Recorded Investment		Post-Mod. Recorded Investment
Real estate secured:
Commercial	-	$	-	$	-	-	$	-	$	-
Construction and land Development	-		-		-	-		-		-
Residential 1-4 family	-		-		-	-		-		-
Multifamily	-		-		-	-		-		-
Farmland	-		-		-	-		-		-
Total real estate loans	-		-		-	-		-		-
Commercial						1		443		443
Agriculture	-		-		-	-		-		-
Consumer installment loans	-		-		-	-		-		-
All other loans	-		-		-	-		-		-
Total		$		$		1	$	443	$	443

	For the three months ended June 30, 2018					For the three months ended June 30, 2017
Troubled Debt Restructurings (Dollars are in thousands)	# of Loans		Pre-Mod. Recorded Investment		Post-Mod. Recorded Investment	# of Loans		Pre-Mod. Recorded Investment		Post-Mod. Recorded Investment
Real estate secured:
Commercial	-	$	-	$	-	-	$	-	$	-
Construction and land Development	-		-		-	-		-		-
Residential 1-4 family	-		-		-	-		-		-
Multifamily	-		-		-	-		-		-
Farmland	-		-		-	-		-		-
Total real estate loans	-		-		-	-		-		-
Commercial						1		443		443
Agriculture	-		-		-	-		-		-
Consumer installment loans	-		-		-	-		-		-
All other loans	-		-		-	-		-		-
Total		$		$		1	$	443	$	443

During the six and three months ended June 30, 2018, the Company modified no loans for for which the modification was considered to be a troubled debt restructuring.

During the six and three months ended June 30, 2017, the Company modified the terms of one loan for which the modification was considered to be a troubled debt restructuring. The interest rate was not modified on this loan; however, the payment terms and maturity date were changed.

No loans modified as troubled debt restructurings defaulted during the three or six months ended June 30, 2018 or 2017. Generally, a troubled debt restructuring is considered to be in default once it becomes 90 days or more past due following a modification.

In determination of the allowance for loan losses, management considers troubled debt restructurings and subsequent defaults in these restructurings in its estimate. The Company evaluates all troubled debt restructurings for possible further impairment. As a result, the allowance may be increased, adjustments may be made in the allocation of the allowance, or charge-offs may be taken to further writedown the carrying value of the loan.