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

 

 

 

 

 

(In thousands)

 

September 30, 2014

 

December 31, 2013

Commercial, financial and agricultural

$
183,069 

$
172,810 

Municipal loans

 
96,258 

 
94,007 

Real estate loans – residential

 
472,986 

 
489,706 

Real estate loans – commercial

 
381,301 

 
371,319 

Real estate loans – construction

 
17,970 

 
31,841 

Installment loans

 
4,793 

 
5,655 

All other loans

 
286 

 
895 

Total loans

$
1,156,663 

$
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 September 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

$
3,656 

$
386 

$
3,246 

$
5,089 

$
494 

$
18 

$
17 

$
12,906 

Charge-offs

 

 -

 

 -

 
(7)

 

 -

 

 -

 

 -

 
(48)

 
(55)

Recoveries

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

 
7 

 
7 

Provision (credit)

 
(253)

 
316 

 
42 

 
(45)

 
(94)

 
(2)

 
36 

 

 -

Ending balance

$
3,403 

$
702 

$
3,281 

$
5,044 

$
400 

$
16 

$
12 

$
12,858 

 

The following table reflects our loan loss experience and activity in the allowance for credit losses by portfolio segment for the nine months ended September 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)

 

-  

 
(25)

 

-  

 

-  

 

-  

 
(99)

 
(158)

Recoveries

 
3 

 

-  

 
20 

 

-  

 

-  

 
1 

 
14 

 
38 

Provision (credit)

 
80 

 
(66)

 
205 

 
(41)

 
(112)

 
(3)

 
87 

 
150 

Ending balance

$
3,403 

$
702 

$
3,281 

$
5,044 

$
400 

$
16 

$
12 

$
12,858 

 

 

The following table reflects our loan loss experience and activity in the allowance for credit losses by portfolio segment for the three months ended September 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

$
3,274 

$
400 

$
3,385 

$
5,018 

$
551 

$
21 

$
9 

$
12,658 

Charge-offs

 

 -

 

 -

 
(49)

 

 -

 

 -

 
(9)

 
(27)

 
(85)

Recoveries

 
13 

 

 -

 

 -

 

 -

 
1 

 

 -

 
4 

 
18 

Provision (credit)

 
137 

 
346 

 
(192)

 
100 

 
(19)

 
6 

 
22 

 
400 

Ending balance

$
3,424 

$
746 

$
3,144 

$
5,118 

$
533 

$
18 

$
8 

$
12,991 

 

The following table reflects our loan loss experience and activity in the allowance for credit losses by portfolio segment for the nine months ended September 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 

 
3,421 

 
4,660 

 
234 

 
17 

 
11 

$
12,312 

Charge-offs

 

-  

 

-  

 
(152)

 
(1)

 

-  

 
(9)

 
(75)

 
(237)

Recoveries

 
62 

 

-  

 
4 

 
40 

 
2 

 

-  

 
8 

 
116 

Provision (credit)

 
(85)

 
224 

 
(129)

 
419 

 
297 

 
10 

 
64 

 
800 

Ending balance

$
3,424 

$
746 

$
3,144 

$
5,118 

$
533 

$
18 

$
8 

$
12,991 

 

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 September 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

$

-  

$

-  

$
34 

$
66 

$

-  

$

-  

$

-  

$
100 

Ending balance collectively
evaluated for impairment

 
3,403 

 
702 

 
3,247 

 
4,978 

 
400 

 
16 

 
12 

 
12,758 

Totals

$
3,403 

$
702 

$
3,281 

$
5,044 

$
400 

$
16 

$
12 

$
12,858 

Financing receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance individually
evaluated for impairment

$
64 

$

-  

$
514 

$
154 

$

-  

$

-  

$

-  

$
732 

Ending balance collectively
evaluated for impairment

 
183,005 

 
96,258 

 
472,472 

 
381,147 

 
17,970 

 
4,793 

 
286 

 
1,155,931 

Totals

$
183,069 

$
96,258 

$
472,986 

$
381,301 

$
17,970 

$
4,793 

$
286 

$
1,156,663 

Components:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses

$
2,798 

$
688 

$
3,195 

$
5,005 

$
305 

$
16 

$
12 

$
12,019 

Reserve for undisbursed
lines of credit

 
605 

 
14 

 
86 

 
39 

 
95 

 

-  

 

-  

 
839 

Total allowance for
credit losses

$
3,403 

$
702 

$
3,281 

$
5,044 

$
400 

$
16 

$
12 

$
12,858 

 

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 September 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

$
43 

$
95 

$

-  

$
138 

$
182,931 

$
183,069 

$

-  

Municipal

 

-  

 

-  

 

-  

 

-  

 
96,258 

 
96,258 

 

-  

Real estate-residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 

-  

 
9 

 
176 

 
185 

 
434,722 

 
434,907 

 

-  

Second mortgage

 
28 

 

-  

 
79 

 
107 

 
37,972 

 
38,079 

 

-  

Real estate-commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

-  

 

-  

 

-  

 

-  

 
241,480 

 
241,480 

 

-  

Non-owner occupied

 

-  

 

-  

 

-  

 

-  

 
139,821 

 
139,821 

 

-  

Real estate-construction:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

-  

 

-  

 

-  

 

-  

 
3,374 

 
3,374 

 

-  

Commercial

 

-  

 

-  

 

-  

 

-  

 
14,596 

 
14,596 

 

-  

Installment

 

-  

 

-  

 

-  

 

-  

 
4,793 

 
4,793 

 

-  

All other loans

 

-  

 

-  

 

-  

 

-  

 
286 

 
286 

 

-  

Total

$
71 

$
104 

$
255 

$
430 

$
1,156,233 

$
1,156,663 

$

-  

 

Of the total past due loans in the aging table above, $255 thousand are non-performing, none of which are restructured or greater than 90 days past due and accruing.  There were $175 thousand past due performing loans at September 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 September 30, 2014 and for the three and nine months ended September 30, 2014 are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

Nine Months Ended

 

 

 

 

 

 

 

September 30, 2014

September 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

$
64 

$
65 

$

-  

$
66 

$
1 

$
65 

$
2 

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
280 

 
418 

 

-  

 
283 

 
1 

 
284 

 
7 

Second mortgage

 
78 

 
78 

 

-  

 
131 

 

-  

 
156 

 
1 

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

-  

 

-  

 

-  

 

-  

 

-  

 
17 

 
1 

With related allowance recorded

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial, financial and agricultural

 

-  

 

-  

 

-  

 

-  

 

-  

 
16 

 

-  

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
155 

 
155 

 
34 

 
190 

 

-  

 
189 

 

-  

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 
155 

 
173 

 
66 

 
156 

 

-  

 
159 

 

-  

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial, financial and agricultural

 
64 

 
65 

 

-  

 
66 

 
1 

 
81 

 
2 

Real estate – residential

 
513 

 
651 

 
34 

 
604 

 
1 

 
629 

 
8 

Real estate – commercial

 
155 

 
173 

 
66 

 
156 

 

-  

 
176 

 
1 

Total

$
732 

$
889 

$
100 

$
826 

$
2 

$
886 

$
11 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

Nine Months Ended

 

 

 

 

 

 

 

September 30, 2013

September 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

$

-  

$

-  

$

-  

$
272 

$
15 

$
223 

$
42 

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
410 

 
629 

 

-  

 
463 

 
24 

 
622 

 
68 

Second mortgage

 
181 

 
218 

 

-  

 
188 

 
1 

 
133 

 
2 

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

-  

 

-  

 

-  

 
107 

 

-  

 
83 

 
15 

Installment

 

-  

 

-  

 

-  

 

-  

 

-  

 
1 

 

-  

With related allowance recorded

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial, financial and agricultural

 
20 

 
21 

 
2 

 
333 

 

-  

 
342 

 

-  

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
131 

 
135 

 
41 

 
399 

 

-  

 
523 

 

-  

Second mortgage

 

-  

 

-  

 

-  

 
18 

 

-  

 
317 

 

-  

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 
164 

 
175 

 
69 

 
168 

 

-  

 
171 

 

-  

Installment

 

-  

 

-  

 

-  

 
6 

 

-  

 
6 

 

-  

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial, financial and agricultural

 
20 

 
21 

 
2 

 
605 

 
15 

 
565 

 
42 

Real estate – residential

 
722 

 
982 

 
41 

 
1,068 

 
25 

 
1,595 

 
70 

Real estate – commercial

 
164 

 
175 

 
69 

 
275 

 

-  

 
254 

 
15 

Installment

 

-  

 

-  

 

-  

 
6 

 

-  

 
7 

 

-  

Total

$
906 

$
1,178 

$
112 

$
1,954 

$
40 

$
2,421 

$
127 

 

Nonperforming Loans

 

 

 

 

 

(In thousands)

 

September 30, 2014

 

December 31, 2013

Nonaccrual  loans

$
308 

$
425 

Loans greater than 90 days and accruing

 

 -

 
75 

Troubled debt restructurings ("TDRs")

 
424 

 
406 

Total nonperforming loans

$
732 

$
906 

 

Nonaccrual Loans By Class

 

 

 

 

 

(In thousands)

 

September 30, 2014

 

December 31, 2013

Commercial, financial and agricultural

$
11 

$
20 

Real estate - residential:

 

 

 

 

First mortgage

 
218 

 
299 

Second mortgage

 
79 

 
106 

Total nonaccruing non-TDR loans

 
308 

 
425 

Nonaccruing TDR’s

 

 

 

 

Commercial, financial and agricultural

 
5 

 

 -

Real estate – residential:

 

 

 

 

First mortgage

 
62 

 
71 

Real estate - commercial:

 

 

 

 

Owner occupied

 
155 

 
164 

Total nonaccrual loans including TDRs

$
530 

$
660 

 

Summary Of Loans By Credit Quality Indicator

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass-

 

Special

 

Sub-

 

 

(In thousands)

 

Unrated

 

Pass

 

Watch

 

Mention

 

Standard

 

Total

Commercial, financial and agricultural

$
247 

$
153,403 

$
10,772 

$
13,043 

$
5,604 

$
183,069 

Municipal

 
55 

 
73,502 

 
20,804 

 
1,897 

 

 -

 
96,258 

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
431,494 

 
3,004 

 
172 

 

 -

 
237 

 
434,907 

Second mortgage

 
38,079 

 

 -

 

 -

 

 -

 

 -

 
38,079 

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 
166 

 
200,491 

 
20,668 

 
4,308 

 
15,847 

 
241,480 

Non-owner occupied

 
130 

 
119,757 

 
18,095 

 
258 

 
1,581 

 
139,821 

Real estate – construction:

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 
149 

 
2,022 

 
1,203 

 

 -

 

 -

 
3,374 

Commercial

 
190 

 
11,999 

 
444 

 

 -

 
1,963 

 
14,596 

Installment

 
4,756 

 
37 

 

 -

 

 -

 

 -

 
4,793 

All other loans

 
286 

 

 -

 

 -

 

 -

 

 -

 
286 

Total

$
475,552 

$
564,215 

$
72,158 

$
19,506 

$
25,232 

$
1,156,663 

 

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