Loans (Tables)

3 Months Ended

Mar. 31, 2014

Loans Tables

Schedule of components of loans

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

	At March 31,		At December 31,
	2014		2013
Residential real estate	$	24,487	$	26,468
Multi-family real estate		3,573		3,605
Commercial real estate		28,518		27,883
Land and construction		6,351		6,459
Commercial		16,361		16,584
Consumer		25		81
Total loans		79,315		81,080
Add (deduct):
Net deferred loan fees, costs and premiums		339		380
Allowance for loan losses		(2,215)		(2,211	)
Loans, net	$	77,439	$	79,249

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			Unallocated			Total
Three Months Ended March 31, 2014:
Beginning balance	$	49		$	4		$	934		$	458		$	61	$	0		$	705		$	2,211
Provision (credit) for loan losses		4			3			259			11			26		(4	)		(299	)		0
Charge-offs		0			0			0			0			0		0			0			0
Recoveries		0			0			0			0			0		4			0			4
Ending balance	$	53		$	7		$	1,193		$	469		$	87	$	0		$	406		$	2,215
Three Months Ended March31, 2013:
Beginning balance	$	434		$	267		$	1,372		$	166		$	216	$	4		$	0		$	2,459
Provision (credit) for loan losses		32			(224	)		1,567			(36	)		40		(7	)		0			1,372
Charge-offs		(97	)		0			(1,197	)		0			0		0			0			(1,294	)
Recoveries		0			0			0			0			0		3			0			3
Ending balance	$	369		$	43		$	1,742		$	130		$	256	$	0		$	0		$	2,540
At March 31, 2014:
Individually evaluated for impairment:
Recorded investment	$	6,968		$	0		$	4,635		$	0		$	1,200	$	0		$	0		$	12,803
Balance in allowance for loan losses	$	0		$	0		$	192		$	0		$	0	$	0		$	0		$	192
Collectively evaluated for impairment:
Recorded investment	$	17,519		$	3,573		$	23,883		$	6,351		$	15,161	$	25		$	0		$	66,512
Balance in allowance for loan losses	$	53		$	7		$	1,001		$	469		$	87	$	0		$	406		$	2,023
At December 31, 2013:
Individually evaluated for impairment:
Recorded investment	$	7,100		$	0		$	5,227		$	0		$	1,216	$	0		$	0		$	13,543
Balance in allowance for loan losses	$	0		$	0		$	192		$	0		$	0	$	0		$	0		$	192
Collectively evaluated for impairment:
Recorded investment	$	19,368		$	3,605		$	22,656		$	6,459		$	15,368	$	81		$	0		$	67,537
Balance in allowance for loan losses	$	49		$	4		$	742		$	458		$	61	$	0		$	705		$	2,019

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 March 31, 2014:
Residential real estate	$	16,235	$	0	$	8,252	$	0	$	0	$	24,487
Multi-family real estate		3,573		0		0		0		0		3,573
Commercial real estate		23,261		2,513		2,744		0		0		28,518
Land and construction		4,390		1,961		0		0		0		6,351
Commercial		13,114		295		2,952		0		0		16,361
Consumer		25		0		0		0		0		25
Total	$	60,598	$	4,769	$	13,948	$	0	$	0	$	79,315
At December 31, 2013:
Residential real estate	$	18,260	$	1,290	$	6,918	$	0	$	0	$	26,468
Multi-family real estate		3,605		0		0		0		0		3,605
Commercial real estate		18,544		2,539		6,800		0		0		27,883
Land and construction		4,493		1,966		0		0		0		6,459
Commercial		13,056		546		2,982		0		0		16,584
Consumer		81		0		0		0		0		81
Total	$	58,039	$	6,341	$	16,700	$	0	$	0	$	81,080

Schedule of aging analysis of past due loans

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

	Accruing Loans
					Greater
	30-59		60-89		Than
	Days Past Due		Days Past Due		90 Days Past Due		Total Past Due		Current		Nonaccrual Loans		Total Loans
At March 31, 2014:
Residential real estate	$	1,284	$	0	$	0	$	1,284	$	19,020	$	4,183	$	24,487
Multi-family real estate		0		0		0		0		3,573		0		3,573
Commercial real estate		0		0		0		0		25,774		2,744		28,518
Land and construction		0		0		0		0		6,351		0		6,351
Commercial		0		0		0		0		15,161		1,200		16,361
Consumer		0		0		0		0		25		0		25
Total	$	1,284	$	0	$	0	$	1,284	$	69,904	$	8,127	$	79,315
At December 31, 2013:
Residential real estate	$	1,290	$	0	$	0	$	1,290	$	20,895	$	4,283	$	26,468
Multi-family real estate		0		0		0		0		3,605		0		3,605
Commercial real estate		0		0		0		0		24,565		3,318		27,883
Land and construction		0		0		0		0		6,459		0		6,459
Commercial		281		0		0		281		15,087		1,216		16,584
Consumer		0		0		0		0		81		0		81
Total	$	1,571	$	0	$	0	$	1,571	$	70,692	$	8,817	$	81,080

Schedule of impaired loans

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

	At March 31, 2014							At December 31, 2013
				Unpaid						Unpaid
		Recorded		Principal		Related		Recorded		Principal		Related
		Investment		Balance		Allowance		Investment		Balance		Allowance
With no related allowance recorded:
Residential real estate		$	6,968	$	7,475	$	0	$	7,100	$	7,607	$	0
Commercial real estate			3,536		3,536		0		4,128		4,534		0
Land and construction			0		0		0		0		0		0
Commercial			1,200		1,442		0		1,216		1,458		0
With an allowance recorded-
Commercial real estate		$	1,099	$	2,913	$	192	$	1,099	$	2,913	$	192
Total:
Residential real estate		$	6,968	$	7,475	$	0	$	7,100	$	7,607	$	0
Commercial real estate		$	4,635	$	6,449	$	192	$	5,227	$	7,447	$	192
Land and construction		$	0	$	0	$	0	$	0	$	0	$	0
Commercial		$	1,200	$	1,442	$	0	$	1,216	$	1,458	$	0
Total		$	12,803	$	15,366	$	192	$	13,543	$	16,512	$	192

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

	For the Period Ended March 31,						For the Period Ended March 31,
	2014						2013
	Average		Interest		Interest		Average		Interest		Interest
	Recorded		Income		Income		Recorded		Income		Income
	Investment		Recognized		Received		Investment		Recognized		Received
Residential real estate	$	7,000	$	49	$	112	$	7,520	$	95	$	126
Commercial real estate	$	4,867	$	21	$	39	$	10,904	$	0	$	45
Land and construction	$	0	$	0	$	0	$	869	$	0	$	15
Commercial	$	1,205	$	0	$	16	$	0	$	0	$	0
Total	$	13,072	$	70	$	167	$	19,293	$	95	$	186