Loans (Tables)

6 Months Ended

Jun. 30, 2013

Loans Tables

Schedule of loans by segment

Loans. The segments of loans are as follows (in thousands):

	At June 30,			At December 31,
	2013			2012
Residential real estate	$	28,851		$	30,064
Multi-family real estate		3,850			3,916
Commercial real estate		38,762			39,126
Land and construction		6,643			7,276
Commercial		8,864			7,158
Consumer		57			70
Total loans		87,027			87,610
Add (deduct):
Net deferred loan fees, costs and premiums		199			58
Allowance for loan losses		(2,587	)		(2,459	)
Loans, net	$	84,639		$	85,209

Schedule of activity in the allowance for loan losses

An analysis of the change in the allowance for loan losses follows (in thousands):

	Residential				Multi-Family			Commercial			Land
		Real			Real			Real			and
		Estate			Estate			Estate			Construction			Commercial		Consumer			Total
Three-Month Period Ended June 30, 2013:
Beginning balance		$	369		$	43		$	1,742		$	130		$	256	$	0		$	2,540
Provision (credit) for loan losses			(27	)		(27	)		1,018			(162	)		23		(3	)		822
Charge-offs			0			0			(950	)		0			0		0			(950	)
Recoveries			0			0			100			72			0		3			175
Ending balance		$	342		$	16		$	1,910		$	40		$	279	$	0		$	2,587
Six-Month Period Ended June 30, 2013:
Beginning balance		$	434		$	267		$	1,372		$	166		$	216	$	4		$	2,459
Provision (credit) for loan losses			5			(251	)		2,585			(198	)		63		(10	)		2,194
Charge-offs			(97	)		0			(2,147	)		0			0		0			(2,244	)
Recoveries			0			0			100			72			0		6			178
Ending balance		$	342		$	16		$	1,910		$	40		$	279	$	0		$	2,587

	Residential			Multi-Family			Commercial			Land
	Real			Real			Real			and
	Estate			Estate			Estate			Construction			Commercial			Consumer		Total
Three-Month Period Ended June 30, 2012:
Beginning balance	$	661		$	214		$	814		$	146		$	117		$	23	$	1,975
Provision (credit) for loan losses		189			31			97			(161	)		(2	)		0		154
Charge-offs		(147	)		0			(141	)		0			0			0		(288	)
Recoveries		0			0			29			230			0			2		261
Ending balance	$	703		$	245		$	799		$	215		$	115		$	25	$	2,102
Six-Month Period Ended June 30, 2012:
Beginning balance	$	549		$	247		$	1,190		$	187		$	161		$	15	$	2,349
Provision (credit) for loan losses		301			(2	)		(210	)		133			(46	)		5		181
Charge-offs		(147	)		0			(210	)		(335	)		0			0		(692	)
Recoveries		0			0			29			230			0			5		264
Ending balance	$	703		$	245		$	799		$	215		$	115		$	25	$	2,102

	Residential		Multi-Family		Commercial		Land
	Real		Real		Real		and
	Estate		Estate		Estate		Construction		Commercial		Consumer		Total
At June 30, 2013:
Individually evaluated for impairment:
Recorded investment	$	7,291	$	0	$	8,702	$	312	$	0	$	0	$	16,305
Balance in allowance for loan losses		0	$	0	$	828	$	17	$	0	$	0	$	845
Collectively evaluated for impairment:
Recorded investment	$	21,560	$	3,850	$	30,060	$	6,331	$	8,864	$	57	$	70,722
Balance in allowance for loan losses	$	342	$	16	$	1,082	$	23	$	279	$	0	$	1,742
At December 31, 2012:
Individually evaluated for impairment:
Recorded investment	$	7,573	$	0	$	11,535	$	886	$	0	$	0	$	19,994
Balance in allowance for loan losses	$	0	$	0	$	366	$	0	$	0	$	0	$	366
Collectively evaluated for impairment:
Recorded investment	$	22,491	$	3,916	$	27,591	$	6,390	$	7,158	$	70	$	67,616
Balance in allowance for loan losses	$	434	$	267	$	1,006	$	166	$	216	$	4		2,093

Schedule of loans by credit quality indicator

The following summarizes the loan credit quality (in thousands):

			OLEM
			(Other Loans
			Especially
	Pass		Mentioned)		Substandard		Doubtful		Loss		Total
At June 30, 2013:
Residential real estate	$	21,560	$	0	$	7,291	$	0	$	0	$	28,851
Multi-family real estate		3,850		0		0		0		0		3,850
Commercial real estate		27,570		1,379		9,813		0		0		38,762
Land and construction		4,355		1,976		312		0		0		6,643
Commercial		7,865		934		65		0		0		8,864
Consumer		57		0		0		0		0		57
Total	$	65,257	$	4,289	$	17,481	$	0	$	0	$	87,027
At December 31, 2012:
Residential real estate	$	22,491	$	0	$	7,573	$	0	$	0	$	30,064
Multi-family real estate		3,916		0		0		0		0		3,916
Commercial real estate		24,967		2,624		11,535		0		0		39,126
Land and construction		4,402		1,987		887		0		0		7,276
Commercial		7,092		66		0		0		0		7,158
Consumer		70		0		0		0		0		70
Total	$	62,938	$	4,677	$	19,995	$	0	$	0	$	87,610

Schedule of aging analysis of past due loans, by class

Age analysis of past-due loans is as follows (in thousands):

	Accruing Loans
					Greater
	30-59		60-89		Than 90		Total
	Days		Days		Days		Past				Nonaccrual		Total
	Past Due		Past Due		Past Due		Due		Current		Loans		Loans
At June 30, 2013:
Residential real estate	$	1,302	$	0	$	0	$	1,302	$	23,096	$	4,453	$	28,851
Multi-family real estate		0		0		0		0		3,850		0		3,850
Commercial real estate		615		0		0		615		29,445		8,702		38,762
Land and construction		0		0		0		0		6,331		312		6,643
Commercial		0		0		0		0		8,864		0		8,864
Consumer		0		0		0		0		57		0		57
Total	$	1,917	$	0	$	0	$	1,917	$	71,643	$	13,467	$	87,027
At December 31, 2012:
Residential real estate	$	0	$	2,915	$	0	$	2,915	$	22,492	$	4,657	$	30,064
Multi-family real estate		0		0		0		0		3,916		0		3,916
Commercial real estate		0		0		0		0		27,591		11,535		39,126
Land and construction		0		0		0		0		6,389		887		7,276
Commercial		699		0		0		699		6,459		0		7,158
Consumer		0		0		0		0		70		0		70
Total	$	699	$	2,915	$	0	$	3,614	$	66,917	$	17,079	$	87,610

The following summarizes the amount of impaired loans (in thousands):

	At June 30, 2013						At December 31, 2012
			Unpaid						Unpaid
	Recorded		Principal		Related		Recorded		Principal		Related
	Investment		Balance		Allowance		Investment		Balance		Allowance
With no related allowance recorded:
Residential real estate	$	7,291	$	7,798	$	0	$	7,573	$	8,024	$	0
Commercial real estate		6,987		10,418		0		8,661		11,412	$	0
Land and construction		0		0		0		886		2,410	$	0
With an allowance recorded:
Commercial real estate	$	1,715	$	2,912	$	828	$	2,874	$	2,874	$	366
Land and construction		312		511		17		0		0		0
Total:
Residential real estate	$	7,291	$	7,798	$	0	$	7,573	$	8,024	$	0
Commercial real estate	$	8,702	$	13,330	$	828	$	11,535	$	14,286	$	366
Land and construction	$	312	$	511	$	17	$	886	$	2,410	$	0
Total	$	16,305	$	21,639	$	845	$	19,994	$	24,720	$	366

Schedule of Impaired loans

The average net investment in impaired loans and interest income recognized and received on impaired loans are as follows (in thousands):

	Three Months Ended June 30,
	2013						2012
	Average		Interest		Interest		Average		Interest		Interest
	Recorded		Income		Income		Recorded		Income		Income
	Investment		Recognized		Received		Investment		Recognized		Received
Residential real estate	$	7,370	$	56	$	93	$	7,870	$	52	$	84
Commercial real estate	$	9,579	$	0	$	68	$	14,766	$	0	$	59
Land and construction	$	568	$	0	$	11	$	4,574	$	0	$	14
Total	$	17,517	$	56	$	172	$	27,210	$	52	$	157

	Six Months Ended June 30,
	2013						2012
	Average		Interest		Interest		Average		Interest		Interest
	Recorded		Income		Income		Recorded		Income		Income
	Investment		Recognized		Received		Investment		Recognized		Received
Residential real estate	$	7,445	$	152	$	219	$	7,941	$	104	$	152
Commercial real estate	$	10,206	$	0	$	113	$	15,152	$	0	$	110
Land and construction	$	717	$	0	$	26	$	5,848	$	0	$	4
Total	$	18,368	$	152	$	358	$	28,941	$	104	$	306