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Loans And The Allowance For Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2015
Loans And The Allowance For Credit Losses [Abstract]  
Composition Of The Loan Portfolio

 

 

 

 

 

(In thousands)

 

March 31, 2015

 

December 31, 2014

Commercial, financial and agricultural

$
195,782 

$
177,597 

Municipal loans

 
91,410 

 
94,366 

Real estate loans – residential

 
461,459 

 
469,529 

Real estate loans – commercial

 
419,500 

 
412,447 

Real estate loans – construction

 
28,512 

 
23,858 

Installment loans

 
3,454 

 
4,504 

All other loans

 
53 

 
33 

Total loans

$
1,200,170 

$
1,182,334 

 

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 March 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

$
3,331 

$
636 

$
3,127 

$
5,251 

$
415 

$
13 

$
42 

$
12,815 

Charge-offs

 
(29)

 

 -

 
(55)

 

 -

 

 -

 
(74)

 

 -

 
(158)

Recoveries

 
25 

 

 -

 
3 

 
1 

 

 -

 
53 

 

 -

 
82 

Provision (credit)

 
41 

 
(93)

 
35 

 
(35)

 
23 

 
71 

 
(42)

 

 -

Ending balance

$
3,368 

$
543 

$
3,110 

$
5,217 

$
438 

$
63 

$

 -

$
12,739 

 

 

The following table reflects our loan loss experience and activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 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

 

 -

 

 -

 
(2)

 

 -

 

 -

 

 -

 
(20)

 
(22)

Recoveries

 
2 

 

 -

 
18 

 

 -

 

 -

 

 -

 
3 

 
23 

Provision (credit)

 
22 

 
(75)

 
255 

 
34 

 
(152)

 

 -

 
16 

 
100 

Ending balance

$
3,378 

$
693 

$
3,352 

$
5,119 

$
360 

$
18 

$
9 

$
12,929 

 

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 March 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

financial and

 

 

 

Real estate-

 

Real estate-

 

Real estate-

 

 

 

 

 

 

(In thousands)

 

agricultural

 

Municipal

 

residential

 

commercial

 

construction

 

Installment

 

All Other

 

Total

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance individually
evaluated for impairment

$
68 

$

 -

$
110 

$

 -

$

 -

$

 -

$

 -

$
178 

Ending balance collectively
evaluated for impairment

 
3,300 

 
543 

 
3,000 

 
5,217 

 
438 

 
63 

 

 -

 
12,561 

Totals

$
3,368 

$
543 

$
3,110 

$
5,217 

$
438 

$
63 

$

 -

$
12,739 

Financing receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance individually
evaluated for impairment

$
590 

$

 -

$
708 

$

 -

$

 -

$

 -

$

 -

$
1,298 

Ending balance collectively
evaluated for impairment

 
195,192 

 
91,410 

 
460,751 

 
419,500 

 
28,512 

 
3,454 

 
53 

 
1,198,872 

Totals

$
195,782 

$
91,410 

$
461,459 

$
419,500 

$
28,512 

$
3,454 

$
53 

$
1,200,170 

Components:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses

$
2,859 

$
530 

$
3,024 

$
5,149 

$
364 

$
63 

$

 -

$
11,989 

Reserve for undisbursed
lines of credit

 
509 

 
13 

 
86 

 
68 

 
74 

 

 -

 

 -

 
750 

Total allowance for
credit losses

$
3,368 

$
543 

$
3,110 

$
5,217 

$
438 

$
63 

$

 -

$
12,739 

 

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, 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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance individually
evaluated for impairment

$

 -

$

 -

$
63 

$

 -

$

 -

$

 -

$

 -

$
63 

Ending balance collectively
evaluated for impairment

 
3,331 

 
636 

 
3,064 

 
5,251 

 
415 

 
13 

 
42 

 
12,752 

Totals

$
3,331 

$
636 

$
3,127 

$
5,251 

$
415 

$
13 

$
42 

$
12,815 

Financing receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance individually
evaluated for impairment

$
134 

$

 -

$
657 

$

 -

$

 -

$

 -

$

 -

$
791 

Ending balance collectively
evaluated for impairment

 
177,463 

 
94,366 

 
468,872 

 
412,447 

 
23,858 

 
4,504 

 
33 

 
1,181,543 

Totals

$
177,597 

$
94,366 

$
469,529 

$
412,447 

$
23,858 

$
4,504 

$
33 

$
1,182,334 

Components:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses

$
2,583 

$
623 

$
3,038 

$
5,209 

$
325 

$
13 

$
42 

$
11,833 

Reserve for undisbursed
lines of credit

 
748 

 
13 

 
89 

 
42 

 
90 

 

 -

 

 -

 
982 

Total allowance for credit losses

$
3,331 

$
636 

$
3,127 

$
5,251 

$
415 

$
13 

$
42 

$
12,815 

 

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 March 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

91 Days or

 

 

31-60

 

61-90

 

91 Days

 

Total  

 

 

 

 

 

more past

 

 

Days

 

Days

 

or More

 

Past

 

 

 

 

 

due and

(In thousands)

 

Past Due

 

Past Due

 

Past Due

 

Due

 

Current

 

Total

 

Accruing

Commercial, financial and agricultural

$
497 

$

 -

$

 -

$
497 

$
195,285 

$
195,782 

$

 -

Municipal

 

 -

 

 -

 

 -

 

 -

 
91,410 

 
91,410 

 

 -

Real estate-residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
68 

 

 -

 
471 

 
539 

 
424,182 

 
424,721 

 

 -

Second mortgage

 
16 

 
17 

 
79 

 
112 

 
36,626 

 
36,738 

 

 -

Real estate-commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

 -

 

 -

 

 -

 

 -

 
178,060 

 
178,060 

 

 -

Non-owner occupied

 
143 

 

 -

 

 -

 
143 

 
241,297 

 
241,440 

 

 -

Real estate-construction:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

 -

 

 -

 

 -

 

 -

 
2,739 

 
2,739 

 

 -

Commercial

 

 -

 

 -

 

 -

 

 -

 
25,773 

 
25,773 

 

 -

Installment

 
2 

 

 -

 

 -

 
2 

 
3,452 

 
3,454 

 

 -

Other

 

 -

 

 -

 

 -

 

 -

 
53 

 
53 

 

 -

Total

$
726 

$
17 

$
550 

$
1,293 

$
1,198,877 

$
1,200,170 

$

 -

 

Of the total past due loans in the aging table above,  $1.07 million are non-performing of which $0 are restructured loans and $0 were greater than 91 days past due and accruing.  There were $228 thousand past due performing loans at March 31, 2015.

 

The table below presents the recorded investment of loans, including nonaccrual and restructured loans, segregated by class, with delinquency aging as of December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

91 Days or

 

 

31-60

 

61-90

 

91 Days

 

Total  

 

 

 

 

 

more past

 

 

Days

 

Days

 

or More

 

Past

 

 

 

 

 

due and

(In thousands)

 

Past Due

 

Past Due

 

Past Due

 

Due

 

Current

 

Total

 

Accruing

Commercial, financial and agricultural

$
49 

$

 -

$

 -

$
49 

$
177,548 

$
177,597 

$

 -

Municipal

 

 -

 

 -

 

 -

 

 -

 
94,366 

 
94,366 

 

 -

Real estate-residential:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
157 

 

 -

 
391 

 
548 

 
431,191 

 
431,739 

 

 -

Second mortgage

 
33 

 

 -

 
79 

 
112 

 
37,678 

 
37,790 

 

 -

Real estate-commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

 -

 
22 

 

 -

 
22 

 
260,075 

 
260,097 

 

 -

Non-owner occupied

 
202 

 

 -

 

 -

 
202 

 
152,148 

 
152,350 

 

 -

Real estate-construction:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

 -

 

 -

 

 -

 

 -

 
4,131 

 
4,131 

 

 -

Commercial

 

 -

 

 -

 

 -

 

 -

 
19,727 

 
19,727 

 

 -

Installment

 

 -

 

 -

 

 -

 

 -

 
4,504 

 
4,504 

 

 -

Other

 

 -

 

 -

 

 -

 

 -

 
33 

 
33 

 

 -

Total

$
441 

$
22 

$
470 

$
933 

$
1,181,401 

$
1,182,334 

$

 -

 

Impaired Loans By Class

Impaired loans by class at March 31, 2015 and for the three months ended March 31, 2015 are as follows:

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

March 31, 2015

 

 

Unpaid

 

Average

 

Recorded

Principal

Related

Recorded

(In thousands)

Investment

Balance

Allowance

Investment

With no related allowance recorded

 

 

 

 

Commercial, financial and agricultural

$                     93

$                     96

$                        -

$                      109

Real estate – residential:

 

 

 

 

First mortgage
154 
283 

 -
147 

Second mortgage
79 
79 

 -
79 

With related allowance recorded

 

 

 

 

Commercial, financial and agricultural
497 
497 
68 
166 

Real estate – residential:

 

 

 

 

First mortgage
458 
458 
93 
439 

Second mortgage
17 
17 
17 
6 

Real estate – commercial:

 

 

 

 

Owner occupied

 -

 -

 -

 -

Total

 

 

 

 

Commercial, financial and agricultural
590 
593 
68 
275 

Real estate – residential
708 
837 
110 
671 

Real estate – commercial

 -

 -

 -

 -

Total

$                1,298

$                1,430

$                   178

$                      946

 

Impaired loans by class at December 31, 2014 and for the three months ended March 31, 2014 are as follows:

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

March 31, 2014

 

 

Unpaid

 

Average

 

Recorded

Principal

Related

Recorded

(In thousands)

Investment

Balance

Allowance

Investment

With no related allowance recorded

 

 

 

 

Commercial, financial and agricultural

$                   134

$                   136

$                        -

$                        34

Real estate – residential:

 

 

 

 

First mortgage
147 
257 

 -
264 

Second mortgage
79 
79 

 -
174 

Real estate – commercial:

 

 

 

 

Owner occupied

 -

 -

 -

 -

Installment

 -

 -

 -

 -

With related allowance recorded

 

 

 

 

Commercial, financial and agricultural

 -

 -

 -
19 

Real estate – residential:

 

 

 

 

First mortgage
431 
432 
63 
164 

Second mortgage

 -

 -

 -

 -

Real estate – commercial:

 

 

 

 

Owner occupied

 -

 -

 -
162 

Installment

 -

 -

 -

 -

Total

 

 

 

 

Commercial, financial and agricultural
134 
136 

 -
53 

Real estate – residential
657 
768 
63 
602 

Real estate – commercial

 -

 -

 -
162 

Total

$                   791

$                   904

$                     63

$                      817

 

Nonperforming Loans

 

 

 

 

 

(In thousands)

 

March 31, 2015

 

December 31, 2014

Nonaccrual  loans

$
1,118 

$
598 

Loans greater than 90 days and accruing

 

 -

 

 -

Troubled debt restructurings ("TDRs")

 
180 

$
193 

Total nonperforming loans

$
1,298 

$
791 

 

Nonaccrual Loans By Class

 

 

 

 

 

(In thousands)

 

March 31, 2015

 

December 31, 2014

Commercial, financial and agricultural

$
551 

$
88 

Real estate - residential:

 

 

 

 

First mortgage

 
471 

 
431 

Second mortgage

 
96 

 
79 

Total nonaccruing non-TDR loans

 
1,118 

 
598 

Nonaccruing TDR’s

 

 

 

 

Commercial, financial and agricultural

 
4 

 
5 

Real estate – residential:

 

 

 

 

First mortgage

 
54 

 
58 

Real estate - commercial:

 

 

 

 

Owner occupied

 

 -

 

 -

Total nonaccrual loans including TDRs

$
1,176 

$
661 

 

Summary Of Loans By Credit Quality Indicator

 

Below is a summary of loans by credit quality indicator as of March 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass-

 

Special

 

Sub-

 

 

(In thousands)

 

Unrated

 

Pass

 

Watch

 

Mention

 

Standard

 

Total

Commercial, financial and agricultural

$
300 

$
161,028 

$
18,509 

$
3,712 

$
12,233 

$
195,782 

Municipal

 
32 

 
81,858 

 
7,631 

 
1,889 

 

 -

 
91,410 

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
420,488 

 
3,537 

 
169 

 

 -

 
527 

 
424,721 

Second mortgage

 
36,721 

 

 -

 

 -

 

 -

 
17 

 
36,738 

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 
133 

 
144,666 

 
14,826 

 
3,366 

 
15,069 

 
178,060 

Non-owner occupied

 
199 

 
216,536 

 
22,299 

 
660 

 
1,746 

 
241,440 

Real estate – construction:

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 
350 

 
2,389 

 

 

 

 -

 

 -

 
2,739 

Commercial

 
150 

 
23,690 

 
37 

 

 -

 
1,896 

 
25,773 

Installment

 
3,454 

 

 -

 

 -

 

 -

 

 -

 
3,454 

All other loans

 
53 

 

 -

 

 -

 

 -

 

 -

 
53 

Total

$
461,880 

$
633,704 

$
63,471 

$
9,627 

$
31,488 

$
1,200,170 

 

Below is a summary of loans by credit quality indicator as of December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass-

 

Special

 

Sub-

 

 

(In thousands)

 

Unrated Residential and

 

Pass

 

Watch

 

Mention

 

Standard

 

Total

Commercial, financial and agricultural

$
352 

$
143,813 

$
21,563 

$
3,942 

$
7,927 

$
177,597 

Municipal

 
40 

 
75,337 

 
17,101 

 
1,888 

 

 -

 
94,366 

Real estate – residential:

 

 

 

 

 

 

 

 

 

 

 

 

First mortgage

 
428,073 

 
3,046 

 
170 

 

 -

 
450 

 
431,739 

Second mortgage

 
37,790 

 

 -

 

 -

 

 -

 

 -

 
37,790 

Real estate – commercial:

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 
187 

 
220,651 

 
18,708 

 
1,378 

 
19,173 

 
260,097 

Non-owner occupied

 
189 

 
130,218 

 
20,773 

 

 -

 
1,170 

 
152,350 

Real estate – construction:

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 
288 

 
3,843 

 

 -

 

 -

 

 -

 
4,131 

Commercial

 
170 

 
17,588 

 
40 

 

 -

 
1,929 

 
19,727 

Installment

 
4,504 

 

 -

 

 -

 

 -

 

 -

 
4,504 

All other loans

 
33 

 

 -

 

 -

 

 -

 

 -

 
33 

Total

$
471,626 

$
594,496 

$
78,355 

$
7,208 

$
30,649 

$
1,182,334