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Impaired Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2012

Impaired Loans and Allowance for Loan Losses [Abstract]

Presentation of loans that were modified within the three months

The following table presents loans that were modified within the twelve months ending December 31, 2012:


		Number of Contracts				Pre- Modification Outstanding Recorded Investment				Post- Modification Outstanding Recorded Investment				Specific Reserve Recorded				Valuation Allowance Recorded
						(In thousands)
Construction and land development			1			$	71			$	64			$	0			$	7
Residential real estate			28				4,941				4,531				0				410
Commercial real estate			2				800				747				0				53
Consumer			2				75				72				0				3

			33			$	5,887			$	5,414			$	0			$	473

Troubled debt restructurings defaulted

Accruing loans that were restructured within the twelve months ending December 31, 2012 and defaulted during the twelve months ended December 31, 2012 are presented in the table below.


		Number of Contracts				Recorded Investment
		(Dollars in thousands)
Residential real estate			7				913

Company's recorded investments in impaired loans and the related valuation allowances

At December 31, 2012 and 2011, the Company’s recorded investment in impaired loans and related valuation allowance was as follows:


		Impaired Loans
		for the Year Ended December 31, 2012
						Unpaid				Related				Average				Interest
		Recorded				Principal				Valuation				Recorded				Income
		Investment				Balance				Allowance				Investment				Recognized
						( In thousands )
With no related allowance recorded:
Construction and land development		$	1,128			$	1,608			$	0			$	1,399			$	5
Commercial real estate			12,357				14,337				0				12,103				433
Residential real estate			15,463				22,022				0				12,019				455
Commercial and financial			0				0				0				7				0
Consumer			223				255				0				431				12
With an allowance recorded:
Construction and land development			2,897				2,941				230				3,539				127
Commercial real estate			26,130				26,648				2,264				39,527				1,304
Residential real estate			24,256				24,752				4,700				26,795				696
Commercial and financial			0				0				0				34				0
Consumer			447				460				76				585				22
Total:
Construction and land development			4,025				4,549				230				4,938				132
Commercial real estate			38,487				40,985				2,264				51,630				1,737
Residential real estate			39,719				46,774				4,700				38,814				1,151
Commercial and financial			0				0				0				41				0
Consumer			670				715				75				1,016				34

		$	82,901			$	93,023			$	7,269			$	96,439			$	3,054


		Impaired Loans
		for the Year Ended December 31, 2011
						Unpaid				Related				Average				Interest
		Recorded				Principal				Valuation				Recorded				Income
		Investment				Balance				Allowance				Investment				Recognized
						( In thousands )
With no related allowance recorded:
Construction and land development		$	1,616			$	2,431			$	0			$	2,527			$	14
Commercial real estate			19,101				22,219				0				21,221				425
Residential real estate			9,128				13,442				0				8,752				155
Commercial and financial			16				16				0				774				2
Consumer			481				523				0				417				2
With an allowance recorded:
Construction and land development			3,777				4,131				375				13,699				153
Commercial real estate			39,199				39,824				3,385				44,369				1,843
Residential real estate			26,140				26,940				3,099				26,869				913
Commercial and financial			101				101				8				154				3
Consumer			578				584				112				746				31
Total:
Construction and land development			5,393				6,562				375				16,226				167
Commercial real estate			58,300				62,043				3,385				65,590				2,268
Residential real estate			35,268				40,382				3,099				35,621				1,068
Commercial and financial			117				117				8				928				5
Consumer			1,059				1,107				112				1,163				33

		$	100,137			$	110,211			$	6,979			$	119,528			$	3,541

Activity in allowance for loan losses

Activity in the allowance for loans losses for the three years ended December 31, 2012, 2011 and 2010 are summarized as follows:


		Beginning Balance				Provision for Loan Losses				Charge- Offs				Recoveries				Net Charge- Offs				Ending Balance
		(In thousands)
December 31, 2012
Construction and land development		$	1,883			$	(478	)		$	(612	)		$	341			$	(271	)		$	1,134
Commercial real estate			11,477				3,209				(8,539	)			2,702				(5,837	)			8,849
Residential real estate			10,966				7,767				(8,381	)			738				(7,643	)			11,090
Commercial and financial			402				283				(346	)			129				(217	)			468
Consumer			837				15				(410	)			121				(289	)			563

		$	25,565			$	10,796			$	(18,288	)		$	4,031			$	(14,257	)		$	22,104

December 31, 2011
Construction and land development		$	7,214			$	(1,645	)		$	(4,739	)		$	1,053			$	(3,686	)		$	1,883
Commercial real estate			18,563				(3,777	)			(3,663	)			354				(3,309	)			11,477
Residential real estate			10,102				7,833				(7,482	)			513				(6,969	)			10,966
Commercial and financial			480				(379	)			0				301				301				402
Consumer			1,385				(58	)			(562	)			72				(490	)			837

		$	37,744			$	1,974			$	(16,446	)		$	2,293			$	(14,153	)		$	25,565

December 31, 2010		$	45,192			$	31,680			$	(41,628	)		$	2,500			$	(39,128	)		$	37,744

Loan portfolio and related allowance

The Company’s loan portfolio and related allowance at December 31, 2012 and 2011 is shown in the following tables.


		Individually Evaluated for Impairment								Collectively Evaluated for Impairment								Total
December 31, 2012		Carrying Value				Associated Allowance				Carrying Value				Associated Allowance				Carrying Value				Associated Allowance
		(In thousands)
Construction and land development		$	4,025			$	230			$	56,711			$	904			$	60,736			$	1,134
Commercial real estate			38,487				2,264				448,341				6,585				486,828				8,849
Residential real estate			39,719				4,700				529,612				6,390				569,331				11,090
Commercial and financial			0				0				61,903				468				61,903				468
Consumer			670				75				46,613				488				47,283				563

		$	82,901			$	7,269			$	1,143,180			$	14,835			$	1,226,081			$	22,104


		Individually Evaluated for Impairment								Collectively Evaluated for Impairment								Total
December 31, 2011		Carrying Value				Associated Allowance				Carrying Value				Associated Allowance				Carrying Value				Associated Allowance
		(In thousands)
Construction and land development		$	5,393			$	375			$	43,791			$	1,508			$	49,184			$	1,883
Commercial real estate			58,300				3,385				450,053				8,092				508,353				11,477
Residential real estate			35,268				3,099				510,978				7,867				546,246				10,966
Commercial and financial			117				8				52,988				394				53,105				402
Consumer			1,059				112				50,127				725				51,186				837

		$	100,137			$	6,979			$	1,107,937			$	18,586			$	1,208,074			$	25,565

Tabular disclosure of troubled debt restructuring which results when the debtor restructures the terms of its debt with a creditor due to the debtor's financial difficulties and the creditor grants certain concessions to obtain payment it might not otherwise receive. Includes a description of the principal changes in terms, the major features of settlement for each restructuring, the aggregate gain on restructuring and the related income tax effect, the per share amount of the total gain on restructuring, net of related income tax effect, and the total gain (loss) on transfers of assets recognized during the period. After the troubled debt restructuring has occurred debtors discuss the extent and amount to which amounts contingently payable are included in the carrying amount of restructured payables, and the conditions under which those amounts would become payable or would be forgiven when there is at least a reasonable possibility that a liability for contingent payments will be incurred.

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