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LOANS (Tables)
 12 Months Ended
Dec. 31, 2014
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]
The following is a summary of loans at December 31, 2014 and 2013:
 
 
 
2014
 
2013
 
 
 
 
 
Percent
 
 
 
Percent
 
 
 
Amount
 
of total
 
Amount
 
of total
 
 
 
(dollars in thousands)
 
Real estate loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
1- to- 4 family residential
 
$
90,903
 
 
16.47
%
$
35,006
 
 
10.10
%
Commercial real estate
 
 
233,630
 
 
42.32
%
 
169,176
 
 
48.82
%
Multi-family residential
 
 
42,224
 
 
7.65
%
 
19,739
 
 
5.70
%
Construction
 
 
83,593
 
 
15.14
%
 
53,325
 
 
15.39
%
Home equity lines of credit (“HELOC”)
 
 
38,093
 
 
6.90
%
 
31,863
 
 
9.20
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total real estate loans
 
 
488,443
 
 
88.48
%
 
309,109
 
 
89.21
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
 
58,217
 
 
10.55
%
 
29,166
 
 
8.42
%
Loans to individuals
 
 
5,953
 
 
1.08
%
 
8,584
 
 
2.48
%
Overdrafts
 
 
64
 
 
0.01
%
 
191
 
 
0.05
%
Total other loans
 
 
64,234
 
 
11.64
%
 
37,941
 
 
10.95
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross loans
 
 
552,677
 
 
 
 
 
347,050
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Less deferred loan origination fees, net
 
 
(639)
 
 
(.12)
%
 
(550)
 
 
(.16)
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total loans
 
 
552,038
 
 
100.00
%
 
346,500
 
 
100.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses
 
 
(6,844)
 
 
 
 
 
(7,054)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total loans, net
 
$
545,194
 
 
 
 
$
339,446
 
 
 
 
Schedule of Related Party Transactions [Table Text Block]
A summary of related party loan transactions, in thousands, is as follows:
 
 
 
2014
 
2013
 
Balance at January 1
 
$
5,370
 
$
2,816
 
Exposure of directors/executive officers added
 
 
2,020
 
 
-
 
Borrowings
 
 
3,208
 
 
3,758
 
Directors/executive officers resigned or retired from board
 
 
(4,631)
 
 
(9)
 
Loan repayments
 
 
(2,570)
 
 
(1,195)
 
 
 
 
 
 
 
 
 
Balance at December 31
 
$
3,397
 
$
5,370
 
Past Due Financing Receivables [Table Text Block]
The following tables present as of December 31, 2014 and 2013 an age analysis of past due loans, segregated by class of loans:
 
 
 
30+
 
Non-
 
Total
 
 
 
 
 
 
 
 
 
Days
 
Accrual
 
Past
 
 
 
 
Total
 
2014
 
Past Due
 
Loans
 
Due
 
Current
 
Loans
 
 
 
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
141
 
$
632
 
$
773
 
$
57,444
 
$
58,217
 
Construction
 
 
-
 
 
816
 
 
816
 
 
82,777
 
 
83,593
 
Multi-family residential
 
 
-
 
 
901
 
 
901
 
 
41,323
 
 
42,224
 
Commercial real estate
 
 
3,377
 
 
2,576
 
 
5,953
 
 
227,677
 
 
233,630
 
Loans to individuals & overdrafts
 
 
22
 
 
-
 
 
22
 
 
5,995
 
 
6,017
 
1 to 4 family residential
 
 
1,464
 
 
1,160
 
 
2,624
 
 
88,279
 
 
90,903
 
HELOC
 
 
14
 
 
853
 
 
867
 
 
37,226
 
 
38,093
 
Deferred loan (fees) cost, net
 
 
-
 
 
-
 
 
-
 
 
-
 
 
(639)
 
 
 
$
5,018
 
$
6,938
 
$
11,956
 
$
540,721
 
$
552,038
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans- PCI
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
2
 
$
-
 
$
2
 
$
655
 
$
657
 
Construction
 
 
-
 
 
-
 
 
-
 
 
1,463
 
 
1,463
 
Multi-family residential
 
 
-
 
 
-
 
 
-
 
 
2,724
 
 
2,724
 
Commercial real estate
 
 
562
 
 
-
 
 
562
 
 
11,341
 
 
11,903
 
Loans to individuals & overdrafts
 
 
-
 
 
-
 
 
-
 
 
128
 
 
128
 
1 to 4 family residential
 
 
283
 
 
-
 
 
283
 
 
9,689
 
 
9,972
 
HELOC
 
 
-
 
 
-
 
 
-
 
 
188
 
 
188
 
 
 
$
847
 
$
-
 
$
847
 
$
26,188
 
$
27,035
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans- excluding PCI
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
139
 
$
632
 
$
771
 
$
56,789
 
$
57,560
 
Construction
 
 
-
 
 
816
 
 
816
 
 
81,314
 
 
82,130
 
Multi-family residential
 
 
-
 
 
901
 
 
901
 
 
38,599
 
 
39,500
 
Commercial real estate
 
 
2,815
 
 
2,576
 
 
5,391
 
 
216,336
 
 
221,727
 
Loans to individuals & overdrafts
 
 
22
 
 
-
 
 
22
 
 
5,867
 
 
5,889
 
1 to 4 family residential
 
 
1,181
 
 
1,160
 
 
2,341
 
 
78,590
 
 
80,931
 
HELOC
 
 
14
 
 
853
 
 
867
 
 
37,038
 
 
37,905
 
Deferred loan (fees) cost, net
 
 
-
 
 
-
 
 
-
 
 
-
 
 
(639)
 
 
 
$
4,171
 
$
6,938
 
$
11,109
 
$
514,533
 
$
525,003
 
 
Non-Accrual and Past Due Loans
 
 
 
30+
 
Non-
 
Total
 
 
 
 
 
 
 
Days
 
Accrual
 
Past
 
 
 
Total
 
2013
 
Past Due
 
Loans
 
Due
 
Current
 
Loans
 
 
 
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
70
 
$
330
 
$
400
 
$
28,766
 
$
29,166
 
Construction
 
 
36
 
 
1,206
 
 
1,242
 
 
52,083
 
 
53,325
 
Multi-family residential
 
 
-
 
 
1,004
 
 
1,004
 
 
18,735
 
 
19,739
 
Commercial real estate
 
 
446
 
 
4,441
 
 
4,887
 
 
164,289
 
 
169,176
 
Loans to individuals & overdrafts
 
 
4
 
 
5
 
 
9
 
 
8,766
 
 
8,775
 
1 to 4 family residential
 
 
318
 
 
1,092
 
 
1,410
 
 
33,596
 
 
35,006
 
HELOC
 
 
-
 
 
1,241
 
 
1,241
 
 
30,622
 
 
31,863
 
Deferred loan (fees) cost, net
 
 
-
 
 
-
 
 
-
 
 
-
 
 
(550)
 
 
 
$
874
 
$
9,319
 
$
10,193
 
$
336,857
 
$
346,500
 
Impaired Financing Receivables [Table Text Block]
The following tables present information on loans, excluding PCI loans and loans evaluated collectively as a homogenous group, that were considered to be impaired as of December 31, 2014 and December 31, 2013:
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
 
 
 
Contractual
 
 
 
Year to Date
 
 
 
 
 
Unpaid
 
Related
 
Average
 
Interest Income
 
 
 
Recorded
 
Principal
 
Allowance
 
Recorded
 
Recognized on
 
 
 
Investment
 
Balance
 
for Loan Losses
 
Investment
 
Impaired Loans
 
2014:
 
(dollars in thousands)
 
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
478
 
$
478
 
$
-
 
$
337
 
$
26
 
Construction
 
 
1,300
 
 
1,525
 
 
-
 
 
1,679
 
 
81
 
Commercial real estate
 
 
2,652
 
 
3,536
 
 
-
 
 
3,329
 
 
184
 
Loans to individuals & overdrafts
 
 
-
 
 
2
 
 
-
 
 
1
 
 
-
 
Multi-family residential
 
 
2,232
 
 
2,515
 
 
-
 
 
2,308
 
 
125
 
HELOC
 
 
637
 
 
768
 
 
-
 
 
702
 
 
39
 
1 to 4 family residential
 
 
2,301
 
 
2,750
 
 
-
 
 
2,928
 
 
147
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Subtotal:
 
 
9,600
 
 
11,574
 
 
-
 
 
11,284
 
 
602
 
With an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
 
265
 
 
267
 
 
64
 
 
266
 
 
-
 
Construction
 
 
167
 
 
168
 
 
80
 
 
247
 
 
1
 
Commercial real estate
 
 
4,878
 
 
5,761
 
 
419
 
 
5,287
 
 
214
 
Loans to individuals & overdrafts
 
 
-
 
 
-
 
 
-
 
 
1
 
 
-
 
Multi-family Residential
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
HELOC
 
 
284
 
 
526
 
 
50
 
 
418
 
 
8
 
1 to 4 family residential
 
 
450
 
 
455
 
 
74
 
 
502
 
 
30
 
Subtotal:
 
 
6,044
 
 
7,177
 
 
687
 
 
6,721
 
 
253
 
Totals:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
11,972
 
 
14,250
 
 
563
 
 
13,453
 
 
631
 
Consumer
 
 
-
 
 
2
 
 
-
 
 
2
 
 
-
 
Residential
 
 
3,672
 
 
4,499
 
 
124
 
 
4,550
 
 
224
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Grand Total:
 
$
15,644
 
$
18,751
 
$
687
 
$
18,005
 
$
855
 
 
 
 
 
 
 
 
 
 
December 31, 2013
 
 
 
 
 
Contractual
 
 
 
Year to Date
 
 
 
 
 
Unpaid
 
Related
 
Average
 
Interest Income
 
 
 
Recorded
 
Principal
 
Allowance
 
Recorded
 
Recognized on
 
 
 
Investment
 
Balance
 
for Loan Losses
 
Investment
 
Impaired Loans
 
2013:
 
(dollars in thousands)
 
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
196
 
$
257
 
$
-
 
$
473
 
$
15
 
Construction
 
 
2,059
 
 
2,311
 
 
-
 
 
2,016
 
 
18
 
Commercial real estate
 
 
3,748
 
 
4,971
 
 
-
 
 
4,987
 
 
-
 
Loans to individuals & overdrafts
 
 
3
 
 
3
 
 
-
 
 
2
 
 
-
 
Multi-family residential
 
 
2,384
 
 
2,384
 
 
-
 
 
2,009
 
 
-
 
HELOC
 
 
767
 
 
854
 
 
-
 
 
595
 
 
98
 
1 to 4 family residential
 
 
2,427
 
 
2,731
 
 
-
 
 
2,788
 
 
5
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Subtotal:
 
 
11,584
 
 
13,511
 
 
-
 
 
12,870
 
 
136
 
With an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
 
267
 
 
267
 
 
63
 
 
101
 
 
18
 
Construction
 
 
328
 
 
406
 
 
91
 
 
426
 
 
2
 
Commercial real estate
 
 
5,695
 
 
5,695
 
 
541
 
 
4,761
 
 
39
 
Loans to individuals & overdrafts
 
 
2
 
 
2
 
 
-
 
 
14
 
 
-
 
Multi-family Residential
 
 
-
 
 
-
 
 
-
 
 
8
 
 
-
 
HELOC
 
 
553
 
 
553
 
 
320
 
 
314
 
 
-
 
1 to 4 family residential
 
 
553
 
 
553
 
 
88
 
 
885
 
 
9
 
Subtotal:
 
 
7,398
 
 
7,476
 
 
1,103
 
 
6,509
 
 
68
 
Totals:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
14,677
 
 
16,291
 
 
695
 
 
14,782
 
 
92
 
Consumer
 
 
5
 
 
5
 
 
-
 
 
16
 
 
-
 
Residential
 
 
4,300
 
 
4,691
 
 
408
 
 
4,581
 
 
112
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Grand Total:
 
$
18,982
 
$
20,987
 
$
1,103
 
$
19,379
 
$
204
 
 
Troubled Debt Restructurings on Financing Receivables [Table Text Block]
The following table presents loans that were modified as troubled debt restructurings (“TDRs”) within the previous twelve months with a breakdown of the types of concessions made by loan class during the twelve months ended December 31, 2014 and 2013:
 
 
 
Twelve Months Ended December 31, 2014
 
 
 
 
 
Pre-Modification
 
Post-Modification
 
 
 
Number
 
Outstanding
 
Outstanding
 
 
 
of
 
Recorded
 
Recorded
 
 
 
loans
 
investments
 
investments
 
 
 
(dollars in thousands)
 
 
 
 
 
 
 
 
 
Below market interest rate:
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
-
 
$
-
 
$
-
 
Construction
 
-
 
 
-
 
 
-
 
Commercial real estate
 
-
 
 
-
 
 
-
 
Loans to individuals and overdrafts
 
-
 
 
-
 
 
-
 
1 to 4 family residential
 
1
 
 
21
 
 
20
 
HELOC
 
-
 
 
-
 
 
-
 
Total
 
1
 
 
21
 
 
20
 
 
 
 
 
 
 
 
 
 
 
Extended payment terms:
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
-
 
 
-
 
 
-
 
Construction
 
-
 
 
-
 
 
-
 
Commercial real estate
 
2
 
 
1,125
 
 
970
 
Multi-family residential
 
-
 
 
-
 
 
-
 
Loans to individuals and overdrafts
 
-
 
 
-
 
 
-
 
1 to 4 family residential
 
1
 
 
45
 
 
40
 
HELOC
 
-
 
 
-
 
 
-
 
Total
 
3
 
 
1,170
 
 
1,010
 
 
 
 
 
 
 
 
 
 
 
Other:
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
-
 
 
-
 
 
-
 
Construction
 
-
 
 
-
 
 
-
 
Commercial real estate
 
-
 
 
-
 
 
-
 
Loans to individuals and overdrafts
 
-
 
 
-
 
 
-
 
1 to 4 family residential
 
-
 
 
-
 
 
-
 
HELOC
 
-
 
 
-
 
 
-
 
Total
 
-
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
Total
 
4
 
$
1,191
 
$
1,030
 
 
 
 
Twelve Months Ended December 31, 2013
 
 
 
 
 
Pre-Modification
 
Post-Modification
 
 
 
Number
 
Outstanding
 
Outstanding
 
 
 
of
 
Recorded
 
Recorded
 
 
 
loans
 
investments
 
investments
 
 
 
(dollars in thousands)
 
 
 
 
 
 
 
 
 
Below market interest rate:
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
-
 
$
-
 
$
-
 
Construction
 
-
 
 
-
 
 
-
 
Commercial real estate
 
-
 
 
-
 
 
-
 
Loans to individuals and overdrafts
 
-
 
 
-
 
 
-
 
1 to 4 family residential
 
3
 
 
276
 
 
272
 
HELOC
 
-
 
 
-
 
 
-
 
Total
 
3
 
 
276
 
 
272
 
 
 
 
 
 
 
 
 
 
 
Extended payment terms:
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
4
 
 
537
 
 
402
 
Construction
 
2
 
 
134
 
 
131
 
Commercial real estate
 
1
 
 
645
 
 
645
 
Multi-family residential
 
-
 
 
-
 
 
-
 
Loans to individuals and overdrafts
 
-
 
 
-
 
 
-
 
1 to 4 family residential
 
4
 
 
1,084
 
 
1,053
 
HELOC
 
-
 
 
-
 
 
-
 
Total
 
11
 
 
2,400
 
 
2,231
 
 
 
 
 
 
 
 
 
 
 
Other:
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
-
 
 
-
 
 
-
 
Construction
 
-
 
 
-
 
 
-
 
Commercial real estate
 
1
 
 
163
 
 
159
 
Loans to individuals and overdrafts
 
-
 
 
-
 
 
-
 
1 to 4 family residential
 
3
 
 
203
 
 
195
 
HELOC
 
-
 
 
-
 
 
-
 
Total
 
4
 
 
366
 
 
354
 
 
 
 
 
 
 
 
 
 
 
Total
 
18
 
$
3,042
 
$
2,857
 
 
 
 
 
Twelve months ended
 
 
 
December 31, 2014
 
 
 
Number
 
Recorded
 
 
 
of loans
 
investment
 
 
 
(dollars in thousands)
 
Below market interest rate:
 
 
 
 
 
 
Commercial and industrial
 
-
 
$
-
 
Construction
 
-
 
 
-
 
Commercial real estate
 
-
 
 
-
 
Loans to individuals and overdrafts
 
-
 
 
-
 
1 to 4 family residential
 
1
 
 
21
 
HELOC
 
-
 
 
-
 
Total
 
1
 
 
21
 
 
 
 
 
 
 
 
Extended payment terms:
 
 
 
 
 
 
Commercial and industrial
 
-
 
 
-
 
Construction
 
-
 
 
-
 
Commercial real estate
 
1
 
 
947
 
Loans to individuals and overdrafts
 
-
 
 
-
 
Multi-family residential
 
-
 
 
-
 
1 to 4 family residential
 
-
 
 
-
 
HELOC
 
-
 
 
-
 
Total
 
-
 
 
947
 
 
 
 
 
 
 
 
Forgiveness of principal:
 
 
 
 
 
 
Commercial and industrial
 
-
 
 
-
 
Construction
 
-
 
 
-
 
Commercial real estate
 
-
 
 
-
 
Loans to individuals and overdrafts
 
-
 
 
-
 
1 to 4 family residential
 
-
 
 
-
 
HELOC
 
-
 
 
-
 
Total
 
-
 
 
-
 
 
 
 
 
 
 
 
Other:
 
 
 
 
 
 
Commercial and industrial
 
-
 
 
-
 
Construction
 
-
 
 
-
 
Commercial real estate
 
 
 
 
-
 
Loans to individuals and overdrafts
 
-
 
 
-
 
1-to-4 family residential
 
-
 
 
-
 
Multi-family residential
 
-
 
 
-
 
HELOC
 
-
 
 
-
 
Total
 
-
 
 
-
 
 
 
 
 
 
 
 
Total
 
2
 
$
968
 
 
 
 
Twelve months ended
 
 
 
December 31, 2013
 
 
 
Number
 
Recorded
 
 
 
of loans
 
investment
 
 
 
(dollars in thousands)
 
Below market interest rate:
 
 
 
 
 
 
Commercial and industrial
 
-
 
$
-
 
Construction
 
-
 
 
-
 
Commercial real estate
 
-
 
 
-
 
Loans to individuals and overdrafts
 
-
 
 
-
 
1 to 4 family residential
 
-
 
 
-
 
HELOC
 
-
 
 
-
 
Total
 
-
 
 
-
 
 
 
 
 
 
 
 
Extended payment terms:
 
 
 
 
 
 
Commercial and industrial
 
3
 
 
402
 
Construction
 
2
 
 
131
 
Commercial real estate
 
-
 
 
-
 
Loans to individuals and overdrafts
 
-
 
 
-
 
Multi-family residential
 
-
 
 
-
 
1 to 4 family residential
 
1
 
 
47
 
HELOC
 
-
 
 
-
 
Total
 
6
 
 
580
 
 
 
 
 
 
 
 
Forgiveness of principal:
 
 
 
 
 
 
Commercial and industrial
 
-
 
 
-
 
Construction
 
-
 
 
-
 
Commercial real estate
 
-
 
 
-
 
Loans to individuals and overdrafts
 
-
 
 
-
 
1 to 4 family residential
 
-
 
 
-
 
HELOC
 
-
 
 
-
 
Total
 
-
 
 
-
 
 
 
 
 
 
 
 
Other:
 
 
 
 
 
 
Commercial and industrial
 
-
 
 
-
 
Construction
 
-
 
 
-
 
Commercial real estate
 
1
 
 
159
 
Loans to individuals and overdrafts
 
-
 
 
-
 
1-to-4 family residential
 
-
 
 
-
 
Multi-family residential
 
-
 
 
-
 
HELOC
 
-
 
 
-
 
Total
 
1
 
 
159
 
 
 
 
 
 
 
 
Total
 
7
 
$
739
 
Financing Receivable Credit Quality Indicators [Table Text Block]
The following tables presents information on risk ratings of the commercial and consumer loan portfolios, segregated by loan class as of December 31, 2014 and 2013:
 
Total Loans:
 
December 31, 2014
 
Commercial
 
 
 
 
 
 
 
 
 
Credit
 
 
 
 
 
 
 
 
 
Exposure By
 
Commercial
 
 
 
Commercial
 
 
 
Internally
 
and
 
 
 
real
 
Multi-family
 
Assigned Grade
 
industrial
 
Construction
 
estate
 
residential
 
 
 
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
Superior
 
$
1,241
 
$
-
 
$
-
 
$
-
 
Very good
 
 
1,110
 
 
-
 
 
-
 
 
-
 
Good
 
 
5,282
 
 
2,705
 
 
15,276
 
 
-
 
Acceptable
 
 
26,132
 
 
13,579
 
 
128,056
 
 
31,619
 
Acceptable with care
 
 
23,404
 
 
65,717
 
 
75,554
 
 
8,374
 
Special mention
 
 
221
 
 
384
 
 
8,036
 
 
1,330
 
Substandard
 
 
827
 
 
1,208
 
 
6,708
 
 
901
 
Doubtful
 
 
-
 
 
-
 
 
-
 
 
-
 
Loss
 
 
-
 
 
-
 
 
-
 
 
-
 
 
 
$
58,217
 
$
83,593
 
$
233,630
 
$
42,224
 
 
Consumer Credit
 
 
 
 
 
Exposure By
 
 
 
 
 
Internally
 
1-to-4 family
 
 
 
Assigned Grade
 
residential
 
HELOC
 
 
 
 
 
 
 
 
 
Pass
 
$
82,794
 
$
36,357
 
Special mention
 
 
3,978
 
 
695
 
Substandard
 
 
4,131
 
 
1,041
 
 
 
$
90,903
 
$
38,093
 
 
Consumer Credit
 
 
 
Exposure Based
 
Loans to
 
On Payment
 
individuals &
 
Activity
 
overdrafts
 
 
 
 
 
 
Pass
 
$
5,969
 
Non-pass
 
 
48
 
 
 
$
6,017
 
 
PCI Loans:
 
December 31, 2014
 
Commercial
 
 
 
 
 
 
 
 
 
Credit
 
 
 
 
 
 
 
 
 
Exposure By
 
Commercial
 
 
 
Commercial
 
 
 
Internally
 
and
 
 
 
real
 
Multi-family
 
Assigned Grade
 
industrial
 
Construction
 
estate
 
residential
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
Superior
 
$
-
 
$
-
 
$
-
 
$
-
 
Very good
 
 
-
 
 
-
 
 
-
 
 
-
 
Good
 
 
-
 
 
-
 
 
-
 
 
-
 
Acceptable
 
 
-
 
 
-
 
 
-
 
 
-
 
Acceptable with care
 
 
602
 
 
1,397
 
 
9,368
 
 
2,724
 
Special mention
 
 
-
 
 
66
 
 
1,973
 
 
-
 
Substandard
 
 
55
 
 
-
 
 
562
 
 
-
 
Doubtful
 
 
-
 
 
-
 
 
-
 
 
-
 
Loss
 
 
-
 
 
-
 
 
-
 
 
-
 
 
 
$
657
 
$
1,463
 
$
11,903
 
$
2,724
 
 
Consumer Credit
 
 
 
 
 
Exposure By
 
 
 
 
 
Internally
 
1-to-4 family
 
 
 
Assigned Grade
 
residential
 
HELOC
 
 
 
 
 
 
 
Pass
 
$
6,437
 
$
188
 
Special mention
 
 
2,926
 
 
-
 
Substandard
 
 
609
 
 
-
 
 
 
$
9,972
 
$
188
 
 
Consumer Credit
 
 
 
Exposure Based
 
Loans to
 
On Payment
 
individuals &
 
Activity
 
overdrafts
 
 
 
 
 
Pass
 
$
117
 
Non-pass
 
 
11
 
 
 
$
128
 
 
Total Loans, excluding PCI Loans:
 
December 31, 2014
 
Commercial
 
 
 
 
 
 
 
 
 
Credit
 
 
 
 
 
 
 
 
 
Exposure By
 
Commercial
 
 
 
Commercial
 
 
 
Internally
 
and
 
 
 
real
 
Multi-family
 
Assigned Grade
 
industrial
 
Construction
 
estate
 
residential
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
Superior
 
$
1,241
 
$
-
 
$
-
 
$
-
 
Very good
 
 
1,110
 
 
-
 
 
-
 
 
-
 
Good
 
 
5,282
 
 
2,705
 
 
15,276
 
 
-
 
Acceptable
 
 
26,132
 
 
13,579
 
 
128,056
 
 
31,619
 
Acceptable with care
 
 
22,802
 
 
64,320
 
 
66,186
 
 
5,650
 
Special mention
 
 
221
 
 
318
 
 
6,063
 
 
1,330
 
Substandard
 
 
772
 
 
1,208
 
 
6,146
 
 
901
 
Doubtful
 
 
-
 
 
-
 
 
-
 
 
-
 
Loss
 
 
-
 
 
-
 
 
-
 
 
-
 
 
 
$
57,560
 
$
82,130
 
$
221,727
 
$
39,500
 
 
Consumer Credit
 
 
 
 
 
Exposure By
 
 
 
 
 
Internally
 
1-to-4 family
 
 
 
Assigned Grade
 
residential
 
HELOC
 
 
 
 
 
 
 
Pass
 
$
76,357
 
$
36,169
 
Special mention
 
 
1,052
 
 
695
 
Substandard
 
 
3,522
 
 
1,041
 
 
 
$
80,931
 
$
37,905
 
 
Consumer Credit
 
 
 
Exposure Based
 
Loans to
 
On Payment
 
individuals &
 
Activity
 
overdrafts
 
 
 
 
 
Pass
 
$
5,852
 
Non-pass
 
 
37
 
 
 
$
5,889
 
 
December 31, 2013
 
Commercial
 
 
 
 
 
 
 
 
 
Credit
 
 
 
 
 
 
 
 
 
Exposure By
 
Commercial
 
 
 
Commercial
 
 
 
Internally
 
and
 
 
 
real
 
Multi-family
 
Assigned Grade
 
industrial
 
Construction
 
estate
 
residential
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
Superior
 
$
830
 
$
40
 
$
-
 
$
-
 
Very good
 
 
-
 
 
-
 
 
-
 
 
-
 
Good
 
 
5,793
 
 
1,133
 
 
19,301
 
 
4,203
 
Acceptable
 
 
11,572
 
 
2,838
 
 
63,447
 
 
6,812
 
Acceptable with care
 
 
5,307
 
 
46,597
 
 
57,768
 
 
6,340
 
Special mention
 
 
5,122
 
 
1,126
 
 
21,305
 
 
1,380
 
Substandard
 
 
542
 
 
1,591
 
 
7,355
 
 
1,004
 
Doubtful
 
 
-
 
 
-
 
 
-
 
 
-
 
Loss
 
 
-
 
 
-
 
 
-
 
 
-
 
 
 
$
29,166
 
$
53,325
 
$
169,176
 
$
19,739
 
 
Consumer Credit
 
 
 
 
 
Exposure By
 
 
 
 
 
Internally
 
1-to-4 family
 
 
 
Assigned Grade
 
residential
 
HELOC
 
 
 
 
 
 
 
Pass
 
$
29,364
 
$
30,116
 
Special mention
 
 
1,632
 
 
245
 
Substandard
 
 
4,010
 
 
1,502
 
 
 
$
35,006
 
$
31,863
 
 
Consumer Credit
 
 
 
Exposure Based
 
Loans to
 
On Payment
 
individuals &
 
Activity
 
overdrafts
 
 
 
 
 
Pass
 
$
7,629
 
Non-pass
 
 
1,146
 
 
 
$
8,775
 
Schedule Of Fair Values of Expected Cashflows And Loan Related Payments To Acquired Company At The Time Of Merger [Table Text Block]
For PCI loans acquired from Legacy Select, the contractually required payments including principal and interest, cash flows expected to be collected and fair values as of the closing date of the merger and December 31, 2014 were:
 
(Dollars in thousands)
 
July 25, 2014
 
December 31, 2014
 
 
 
 
 
 
 
 
 
Contractually required payments
 
$
34,329
 
$
32,233
 
Nonaccretable difference
 
 
1,402
 
 
1,436
 
Cash flows expected to be collected
 
 
32,927
 
 
30,797
 
Accretable yield
 
 
4,360
 
 
3,762
 
Fair value
 
$
28,567
 
$
27,035
 
Schedule Of Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield [Table Text Block]
The following table documents changes to the amount of the PCI accretable yield from the acquisition date to December 31, 2014 (dollars in thousands):
 
Accretable yield, beginning of period
 
$
-
 
Addition from Legacy Select acquisition
 
 
4,360
 
Accretion
 
 
(598)
 
Reclassification from (to) nonaccretable difference
 
 
-
 
Accretable yield, end of period
 
$
3,762
 
Allowance for Credit Losses on Financing Receivables [Table Text Block]
The following tables present a roll forward of the Company’s allowance for loan losses by loan segment for the twelve month periods ended December 31, 2014, 2013 and 2012, respectively (in thousands):
 
2014
 
Commercial
 
 
 
 
 
 
 
1 to 4
 
 
 
 
Loans to
 
Multi-
 
 
 
 
 
 
and
 
 
 
 
Commercial
 
family
 
 
 
 
individuals &
 
family
 
 
 
 
Allowance for loan losses
 
industrial
 
Construction
 
real estate
 
residential
 
HELOC
 
overdrafts
 
residential
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans – excluding PCI
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period 01/01/2014
 
$
245
 
$
565
 
$
4,599
 
$
826
 
$
680
 
$
65
 
$
74
 
$
7,054
 
Provision for loan losses
 
 
589
 
 
479
 
 
(1,899)
 
 
(262)
 
 
499
 
 
195
 
 
205
 
 
(194)
 
Loans charged-off
 
 
(63)
 
 
(4)
 
 
(150)
 
 
(26)
 
 
(327)
 
 
(98)
 
 
-
 
 
(668)
 
Recoveries
 
 
32
 
 
63
 
 
364
 
 
92
 
 
78
 
 
23
 
 
-
 
 
652
 
Total
 
$
803
 
$
1,103
 
$
2,914
 
$
630
 
$
930
 
$
185
 
$
279
 
$
6,844
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PCI Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period 01/01/2014
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
Provision for loan losses
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Loans charged-off
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Recoveries
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Total
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period 01/01/2014
 
$
245
 
$
565
 
$
4,599
 
$
826
 
$
680
 
$
65
 
$
74
 
$
7,054
 
Provision for loan losses
 
 
589
 
 
479
 
 
(1,899)
 
 
(262)
 
 
499
 
 
195
 
 
205
 
 
(194)
 
Loans charged-off
 
 
(63)
 
 
(4)
 
 
(150)
 
 
(26)
 
 
(327)
 
 
(98)
 
 
-
 
 
(668)
 
Recoveries
 
 
32
 
 
63
 
 
364
 
 
92
 
 
78
 
 
23
 
 
-
 
 
652
 
Balance, end of period 12/31/2014
 
$
803
 
$
1,103
 
$
2,914
 
$
630
 
$
930
 
$
185
 
$
279
 
$
6,844
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending Balance: individually evaluated for impairment
 
$
64
 
$
80
 
$
419
 
$
74
 
$
50
 
$
-
 
$
-
 
$
687
 
Ending Balance: collectively evaluated for impairment
 
$
739
 
$
1,023
 
$
2,495
 
$
556
 
$
880
 
$
185
 
$
279
 
$
6,157
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending Balance
 
$
58,217
 
$
83,593
 
$
233,630
 
$
90,903
 
$
38,093
 
$
6,017
 
$
42,224
 
$
552,677
 
Ending Balance: individually evaluated for impairment
 
$
743
 
$
1,467
 
$
7,530
 
$
2,751
 
$
921
 
$
-
 
$
2,232
 
$
15,644
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending Balance: collectively evaluated for impairment
 
$
57,474
 
$
82,126
 
$
226,100
 
$
88,152
 
$
37,172
 
$
6,017
 
$
39,992
 
$
537,033
 
 
 
2013
 
Commercial
 
 
 
 
 
 
 
1 to 4
 
 
 
 
Loans to
 
Multi-
 
 
 
 
 
 
and
 
 
 
 
Commercial
 
family
 
 
 
 
individuals &
 
family
 
 
 
 
Allowance for loan losses
 
industrial
 
Construction
 
real estate
 
residential
 
HELOC
 
overdrafts
 
residential
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period 01/01/2013
 
$
278
 
$
798
 
$
4,946
 
$
1,070
 
$
627
 
$
72
 
$
106
 
$
7,897
 
Provision for loan losses
 
 
(35)
 
 
(230)
 
 
(59)
 
 
(317)
 
 
288
 
 
60
 
 
(32)
 
 
(325)
 
Loans charged-off
 
 
(135)
 
 
(28)
 
 
(384)
 
 
(325)
 
 
(316)
 
 
(135)
 
 
-
 
 
(1,323)
 
Recoveries
 
 
137
 
 
25
 
 
96
 
 
398
 
 
81
 
 
68
 
 
-
 
 
805
 
Balance, end of period 12/31/2013
 
$
245
 
$
565
 
$
4,599
 
$
826
 
$
680
 
$
65
 
$
74
 
$
7,054
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending Balance: individually evaluated for impairment
 
$
63
 
$
91
 
$
541
 
$
88
 
$
320
 
$
-
 
$
-
 
$
1,103
 
Ending Balance: collectively evaluated for impairment
 
$
182
 
$
474
 
$
4,058
 
$
738
 
$
360
 
$
65
 
$
74
 
$
5,951
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending Balance
 
$
29,166
 
$
53,325
 
$
169,176
 
$
35,006
 
$
31,863
 
$
8,775
 
$
19,739
 
$
347,050
 
Ending Balance: individually evaluated for impairment
 
$
463
 
$
2,387
 
$
9,443
 
$
2,980
 
$
1,320
 
$
5
 
$
2,384
 
$
18,982
 
Ending Balance: collectively evaluated for impairment
 
$
28,703
 
$
50,938
 
$
159,733
 
$
32,026
 
$
30,543
 
$
8,770
 
$
17,355
 
$
328,068
 
 
2012
 
Commercial
 
 
 
 
 
 
 
1 to 4
 
 
 
 
Loans to
 
Multi-
 
 
 
 
 
 
and
 
 
 
 
Commercial
 
family
 
 
 
 
individuals &
 
family
 
 
 
 
Allowance for loan losses
 
industrial
 
Construction
 
real estate
 
residential
 
HELOC
 
overdrafts
 
residential
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period 01/01/2012
 
$
719
 
$
1,540
 
$
4,771
 
$
1,661
 
$
1,122
 
$
94
 
$
127
 
$
10,034
 
Provision for loan losses
 
 
(2,962)
 
 
(339)
 
 
1,468
 
 
(591)
 
 
(110)
 
 
(42)
 
 
(21)
 
 
(2,597)
 
Loans charged-off
 
 
(193)
 
 
(720)
 
 
(1,580)
 
 
(232)
 
 
(459)
 
 
(70)
 
 
-
 
 
(3,254)
 
Recoveries
 
 
2,714
 
 
317
 
 
287
 
 
232
 
 
74
 
 
90
 
 
-
 
 
3,714
 
Balance, end of period 12/31/2012
 
$
278
 
$
798
 
$
4,946
 
$
1,070
 
$
627
 
$
72
 
$
106
 
$
7,897
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending Balance: individually evaluated for impairment
 
$
51
 
$
64
 
$
581
 
$
157
 
$
43
 
$
4
 
$
9
 
$
909
 
Ending Balance: collectively evaluated for impairment
 
$
227
 
$
734
 
$
4,365
 
$
913
 
$
584
 
$
68
 
$
97
 
$
6,988
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending Balance
 
$
29,297
 
$
48,220
 
$
186,949
 
$
41,017
 
$
34,603
 
$
8,734
 
$
19,524
 
$
368,344
 
Ending Balance: individually evaluated for impairment
 
$
611
 
$
2,642
 
$
10,492
 
$
3,651
 
$
819
 
$
24
 
$
1,482
 
$
19,721
 
Ending Balance: collectively evaluated for impairment
 
$
28,686
 
$
45,578
 
$
176,457
 
$
37,366
 
$
33,784
 
$
8,710
 
$
18,042
 
$
348,623