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Loans And The Allowance For Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2014
Loans And The Allowance For Credit Losses [Abstract]  
Composition Of The Loan Portfolio

 

 

 

 

 

(In thousands)

 

June 30, 2014

 

December 31, 2013

Commercial, financial and agricultural

$
193,806 

$
172,810 

Municipal loans

 
46,358 

 
94,007 

Real estate loans – residential

 
476,696 

 
489,706 

Real estate loans – commercial

 
372,825 

 
371,319 

Real estate loans – construction

 
32,336 

 
31,841 

Installment loans

 
4,238 

 
5,655 

All other loans

 
252 

 
895 

Total loans

$
1,126,511 

$
1,166,233 

 

Loan Loss Experience And Activity In The Allowance For Credit Losses

The following table reflects our loan loss experience and activity in the allowance for credit losses by portfolio segment for the three months ended June 30, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

financial and

 

 

Real estate-

Real estate-

Real estate-

 

 

 

 

 

 

(In thousands)

agricultural

Municipal

residential

commercial

construction

Installment

All Other

Total

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

$
3,378 

$
693 

$
3,352 

$
5,119 

$
360 

$
18 

$
9 

$
12,929 

Charge-offs

 
(34)

 

 -

 
(16)

 

 -

 

 -

 

 -

 
(31)

 
(81)

Recoveries

 
1 

 

 -

 
2 

 

 -

 

 -

 
1 

 
4 

 
8 

Provision (credit)

 
311 

 
(307)

 
(92)

 
(30)

 
134 

 
(1)

 
35 

 
50 

Ending balance

$
3,656 

$
386 

$
3,246 

$
5,089 

$
494 

$
18 

$
17 

$
12,906 

 

The following table reflects our loan loss experience and activity in the allowance for credit losses by portfolio segment for the six months ended June 30, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

financial and

 

 

Real estate-

Real estate-

Real estate-

 

 

 

 

 

 

(In thousands)

agricultural

Municipal

residential

commercial

construction

Installment

All Other

Total

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

$
3,354 

$
768 

$
3,081 

$
5,085 

$
512 

$
18 

$
10 

$
12,828 

Charge-offs

 
(34)

 

-  

 
(18)

 

-  

 

-  

 

-  

 
(51)

 
(103)

Recoveries

 
3 

 

-  

 
20 

 

-  

 

-  

 
1 

 
7 

 
31 

Provision (credit)

 
333 

 
(382)

 
163 

 
4 

 
(18)

 
(1)

 
51 

 
150 

Ending balance

$
3,656 

$
386 

$
3,246 

$
5,089 

$
494 

$
18 

$
17 

$
12,906 

 

The following table reflects our loan loss experience and activity in the allowance for credit losses by portfolio segment for the three months ended June 30, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

financial and

 

 

Real estate-

Real estate-

Real estate-

 

 

 

 

 

 

(In thousands)

agricultural

Municipal

residential

commercial

construction

Installment

All Other

Total

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

$
3,411 

$
655 

$
3,708 

$
4,511 

$
275 

$
16 

$
12 

$
12,588 

Charge-offs

 

 -

 

 -

 
(96)

 

 -

 

 -

 

 -

 
(28)

 
(124)

Recoveries

 
40 

 

 -

 
1 

 

 -

 

 -

 

 -

 
3 

 
44 

Provision (credit)

 
(177)

 
(255)

 
(52)

 
331 

 
276 

 
5 

 
22 

 
150 

Ending balance

$
3,274 

$
400 

$
3,561 

$
4,842 

$
551 

$
21 

$
9 

$
12,658 

 

 

The following table reflects our loan loss experience and activity in the allowance for credit losses by portfolio segment for the six months ended June 30, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

financial and

 

 

Real estate-

Real estate-

Real estate-

 

 

 

 

 

 

(In thousands)

agricultural

Municipal

residential

commercial

construction

Installment

All Other

Total

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

$
3,447 

$
522 

$
3,582 

$
4,499 

$
234 

$
17 

$
11 

$
12,312 

Charge-offs

 

-  

 

-  

 
(103)

 
(1)

 

-  

 

-  

 
(48)

 
(152)

Recoveries

 
49 

 

-  

 
4 

 
40 

 
1 

 

-  

 
4 

 
98 

Provision (credit)

 
(222)

 
(122)

 
78 

 
304 

 
316 

 
4 

 
42 

 
400 

Ending balance

$
3,274 

$
400 

$
3,561 

$
4,842 

$
551 

$
21 

$
9 

$
12,658 

 

Allowance For Loan Losses And The Recorded Investment In Loans

The following presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based upon impairment method at June 30, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

financial and

 

 

Real estate-

Real estate-

Real estate-

 

 

All  

 

 

(In thousands)

agricultural

Municipal

residential

commercial

construction

Installment

Other

Total

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance individually
evaluated for impairment

$

-  

$

-  

$
52 

$
67 

$

-  

$

-  

$

-  

$
119 

Ending balance collectively
evaluated for impairment

 
3,656 

 
386 

 
3,194 

 
5,022 

 
494 

 
18 

 
17 

 
12,787 

Totals

$
3,656 

$
386 

$
3,246 

$
5,089 

$
494 

$
18 

$
17 

$
12,906 

Financing receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance individually
evaluated for impairment

$
70 

$

-  

$
661 

$
157 

$

-  

$

-  

$

-  

$
888 

Ending balance collectively
evaluated for impairment

 
193,736 

 
46,358 

 
476,035 

 
372,668 

 
32,336 

 
4,238 

 
252 

 
1,125,623 

Totals

$
193,806 

$
46,358 

$
476,696 

$
372,825 

$
32,336 

$
4,238 

$
252 

$
1,126,511 

Components:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses

$
2,978 

$
381 

$
3,158 

$
5,053 

$
439 

$
15 

$
16 

$
12,040 

Reserve for undisbursed
lines of credit

 
678 

 
5 

 
88 

 
36 

 
55 

 
3 

 
1 

 
866 

Total allowance for
credit losses

$
3,656 

$
386 

$
3,246 

$
5,089 

$
494 

$
18 

$
17 

$
12,906 

 

 

The following presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based upon impairment method at December 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

financial and

 

 

Real estate-

Real estate-

Real estate-

 

 

All  

 

 

(In thousands)

agricultural

Municipal

residential

commercial

construction

Installment

Other

Total

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance individually
evaluated for impairment

$
2 

$

-  

$
41 

$
69 

$

-  

$

-  

$

-  

$
112 

Ending balance collectively
evaluated for impairment

 
3,352 

 
768 

 
3,040 

 
5,016 

 
512 

 
18 

 
10 

 
12,716 

Totals

$
3,354 

$
768 

$
3,081 

$
5,085 

$
512 

$
18 

$
10 

$
12,828 

Financing receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance individually
evaluated for impairment

$
20 

$

-  

$
722 

$
164 

$

-  

$

-  

$

-  

$
906 

Ending balance collectively
evaluated for impairment

 
172,790 

 
94,007 

 
488,984 

 
371,155 

 
31,841 

 
5,655 

 
895 

 
1,165,327 

Totals

$
172,810 

$
94,007 

$
489,706 

$
371,319 

$
31,841 

$
5,655 

$
895 

$
1,166,233 

Components:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses

$
2,740 

$
758 

$
2,995 

$
5,040 

 
481 

$
18 

$
10 

$
12,042 

Reserve for undisbursed
lines of credit

 
614 

 
10 

 
86 

 
45 

 
31 

 

-  

 

-  

 
786 

Total allowance for
credit losses

$
3,354 

$
768 

$
3,081 

$
5,085 

$
512 

$
18 

$
10 

$
12,828 

 

Recorded Investment of Loans, Including Nonaccrual And Restructured Loans, By Class

The table below presents the recorded investment of loans, including nonaccrual and restructured loans, segregated by class, with delinquency aging as of June 30, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Greater

 

30-59

60-89

90 Days

 

 

 

 

 

 

Than 90

 

Days

Days

or More

Total Past

 

 

 

 

Days and

(In thousands)

Past Due

Past Due

Past Due

Due

Current

Total

Accruing

Commercial, financial and agricultural

$
39 

$

-  

$

-  

$
39 

$
193,767 

$
193,806 

$

-  

Municipal

 

-  

 

-  

 

-  

 

-  

 
46,358 

 
46,358 

 

-  

Real estate-residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
45 

 

-  

 
278 

 
323 

 
439,106 

 
439,429 

 

-  

Second mortgage

 
8 

 

-  

 
157 

 
165 

 
37,102 

 
37,267 

 
79 

Real estate-commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

-  

 

-  

 

-  

 

-  

 
224,728 

 
224,728 

 

-  

Non-owner occupied

 

-  

 

-  

 

-  

 

-  

 
148,097 

 
148,097 

 

-  

Real estate-construction:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

-  

 

-  

 

-  

 

-  

 
4,129 

 
4,129 

 

-  

Commercial

 

-  

 

-  

 

-  

 

-  

 
28,207 

 
28,207 

 

-  

Installment

 

-  

 

-  

 

-  

 

-  

 
4,238 

 
4,238 

 

-  

All other loans

 

-  

 

-  

 

-  

 

-  

 
252 

 
252 

 

-  

Total

$
92 

$

-  

$
435 

$
527 

$
1,125,984 

$
1,126,511 

$
79 

 

Of the total past due loans in the aging table above,  $435 thousand are non-performing, of which none are restructured loans and $79 thousand are greater than 90 days past due and accruing.  There were $92  thousand past due performing loans at June 30, 2014.

 

 

The table below presents the recorded investment of loans, including nonaccrual and restructured loans, segregated by class, with delinquency aging as of December 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Greater

 

30-59

60-89

90 Days

 

 

 

 

 

 

Than 90

 

Days

Days

or More

Total Past

 

 

 

 

Days and

(In thousands)

Past Due

Past Due

Past Due

Due

Current

Total

Accruing

Commercial, financial and agricultural

$

-  

$

-  

$
20 

$
20 

$
172,790 

$
172,810 

$

-  

Municipal

 

-  

 

-  

 

-  

 

-  

 
94,007 

 
94,007 

 

-  

Real estate-residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
4 

 
294 

 
341 

 
639 

 
452,440 

 
453,079 

 

-  

Second mortgage

 

-  

 
4 

 
181 

 
185 

 
36,442 

 
36,627 

 
75 

Real estate-commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

-  

 

-  

 

-  

 

-  

 
224,416 

 
224,416 

 

-  

Non-owner occupied

 
72 

 

-  

 

-  

 
72 

 
146,831 

 
146,903 

 

-  

Real estate-construction:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

-  

 

-  

 

-  

 

-  

 
2,495 

 
2,495 

 

-  

Commercial

 

-  

 

-  

 

-  

 

-  

 
29,346 

 
29,346 

 

-  

Installment

 

-  

 

-  

 

-  

 

-  

 
5,655 

 
5,655 

 

-  

All other loans

 

-  

 

-  

 

-  

 

-  

 
895 

 
895 

 

-  

Total

$
76 

$
298 

$
542 

$
916 

$
1,165,317 

$
1,166,233 

$
75 

 

Impaired Loans By Class

Impaired loans by class at June 30, 2014 and for the three and six months ended June 30, 2014 are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

Six Months Ended

 

 

 

 

 

 

 

June 30, 2014

June 30, 2014

 

 

 

Unpaid

 

 

Average

Interest

Average

Interest

 

Recorded

Principal

Related

Recorded

Income

Recorded

Income

(In thousands)

Investment

Balance

Allowance

Investment

Recognized

Investment

Recognized

With no related allowance recorded

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial, financial and agricultural

$
70 

$
71 

$

-  

$
95 

$
1 

$
65 

$
1 

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
290 

 
416 

 

-  

 
306 

 
2 

 
285 

 
4 

Second mortgage

 
157 

 
157 

 

-  

 
162 

 
1 

 
168 

 
1 

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

-  

 

-  

 

-  

 
51 

 
1 

 
25 

 
1 

With related allowance recorded

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial, financial and agricultural

 

-  

 

-  

 

-  

 
29 

 

-  

 
24 

 

-  

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
214 

 
214 

 
52 

 
214 

 

-  

 
189 

 

-  

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 
157 

 
173 

 
67 

 
158 

 

-  

 
160 

 

-  

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial, financial and agricultural

 
70 

 
71 

 

-  

 
124 

 
1 

 
89 

 
1 

Real estate – residential

 
661 

 
787 

 
52 

 
682 

 
3 

 
642 

 
5 

Real estate – commercial

 
157 

 
173 

 
67 

 
209 

 
1 

 
185 

 
1 

Total

$
888 

$
1,031 

$
119 

$
1,015 

$
5 

$
916 

$
7 

 

 

Impaired loans by class at December 31, 2013 and for the three and six months ended June 30, 2013 are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

Six Months Ended

 

 

 

 

 

 

 

June 30, 2013

June 30, 2013

 

 

 

Unpaid

 

 

Average

Interest

Average

Interest

 

Recorded

Principal

Related

Recorded

Income

Recorded

Income

(In thousands)

Investment

Balance

Allowance

Investment

Recognized

Investment

Recognized

With no related allowance recorded

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial, financial and agricultural

$

-  

$

-  

$

-  

$
292 

$
19 

$
199 

$
27 

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
410 

 
629 

 

-  

 
562 

 
11 

 
701 

 
44 

Second mortgage

 
181 

 
218 

 

-  

 
142 

 
1 

 
105 

 
1 

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

-  

 

-  

 

-  

 
107 

 

-  

 
71 

 
15 

Installment

 

-  

 

-  

 

-  

 

-  

 

-  

 
2 

 

-  

With related allowance recorded

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial, financial and agricultural

 
20 

 
21 

 
2 

 
279 

 

-  

 
346 

 

-  

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
131 

 
135 

 
41 

 
493 

 

-  

 
585 

 

-  

Second mortgage

 

-  

 

-  

 

-  

 
233 

 

-  

 
467 

 

-  

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 
164 

 
175 

 
69 

 
171 

 

-  

 
173 

 

-  

Installment

 

-  

 

-  

 

-  

 
9 

 

-  

 
6 

 

-  

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial, financial and agricultural

 
20 

 
21 

 
2 

 
571 

 
19 

 
545 

 
27 

Real estate – residential

 
722 

 
982 

 
41 

 
1,430 

 
12 

 
1,858 

 
45 

Real estate – commercial

 
164 

 
175 

 
69 

 
278 

 

-  

 
244 

 
15 

Installment

 

-  

 

-  

 

-  

 
9 

 

-  

 
8 

 

-  

Total

$
906 

$
1,178 

$
112 

$
2,288 

$
31 

$
2,655 

$
87 

 

Nonperforming Loans

 

 

 

 

 

(In thousands)

 

June 30, 2014

 

December 31, 2013

Nonaccrual  loans

$
372 

$
425 

Loans greater than 90 days and accruing

 
79 

 
75 

Troubled debt restructurings ("TDRs")

 
437 

 
406 

Total nonperforming loans

$
888 

$
906 

 

Nonaccrual Loans By Class

 

 

 

 

 

(In thousands)

 

June 30, 2014

 

December 31, 2013

Commercial, financial and agricultural

$
15 

$
20 

Real estate - residential:

 

 

 

 

First mortgage

 
278 

 
299 

Second mortgage

 
79 

 
106 

Total nonaccruing non-TDR loans

 
372 

 
425 

Nonaccruing TDR’s

 

 

 

 

Commercial, financial and agricultural

 
7 

 

 -

Real estate – residential:

 

 

 

 

First mortgage

 
66 

 
71 

Real estate - commercial:

 

 

 

 

Owner occupied

 
157 

 
164 

Total nonaccrual loans including TDRs

$
602 

$
660 

 

Summary Of Loans By Credit Quality Indicator

 

 

Below is a summary of loans by credit quality indicator as of June 30, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass-

 

Special

 

Sub-

 

 

(In thousands)

 

Unrated

 

Pass

 

Watch

 

Mention

 

Standard

 

Total

Commercial, financial and agricultural

$
247 

$
162,296 

$
18,371 

$
2,817 

$
10,075 

$
193,806 

Municipal

 
20 

 
25,481 

 
20,483 

 
374 

 

 -

 
46,358 

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
435,985 

 
2,929 

 

 -

 

 -

 
515 

 
439,429 

Second mortgage

 
37,267 

 

 -

 

 -

 

 -

 

 -

 
37,267 

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 
176 

 
185,549 

 
16,325 

 
4,960 

 
17,718 

 
224,728 

Non-owner occupied

 
113 

 
134,832 

 
10,819 

 

 -

 
2,333 

 
148,097 

Real estate – construction:

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 
731 

 
2,104 

 
1,294 

 

 -

 

 -

 
4,129 

Commercial

 
197 

 
25,561 

 
458 

 

 -

 
1,991 

 
28,207 

Installment

 
4,200 

 
38 

 

 -

 

 -

 

 -

 
4,238 

All other loans

 
252 

 

 -

 

 -

 

 -

 

 -

 
252 

Total

$
479,188 

$
538,790 

$
67,750 

$
8,151 

$
32,632 

$
1,126,511 

 

Below is a summary of loans by credit quality indicator as of December 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass-

 

Special

 

Sub-

 

 

(In thousands)

 

Unrated

 

Pass

 

Watch

 

Mention

 

Standard

 

Total

Commercial, financial and agricultural

$
242 

$
152,466 

$
14,092 

$
96 

$
5,914 

$
172,810 

Municipal

 
28 

 
65,474 

 
26,548 

 
1,957 

 

 -

 
94,007 

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
449,951 

 
2,520 

 

 -

 
65 

 
543 

 
453,079 

Second mortgage

 
36,599 

 

 -

 

 -

 

 -

 
28 

 
36,627 

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 
165 

 
187,779 

 
17,236 

 
2,342 

 
16,894 

 
224,416 

Non-owner occupied

 
171 

 
134,222 

 
9,841 

 
270 

 
2,399 

 
146,903 

Real estate – construction:

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 
904 

 
1,591 

 

 -

 

 -

 

 -

 
2,495 

Commercial

 
738 

 
28,127 

 
481 

 

 -

 

 -

 
29,346 

Installment

 
5,655 

 

 -

 

 -

 

 -

 

 -

 
5,655 

All other loans

 
895 

 

 -

 

 -

 

 -

 

 -

 
895 

Total

$
495,348 

$
572,179 

$
68,198 

$
4,730 

$
25,778 

$
1,166,233