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Loans and Related Allowance for Loan Losses (Tables)
 6 Months Ended
Jun. 30, 2015
Loans and Related Allowance for Loan Losses [Abstract]  
Primary Segments of the Loan Portfolio

The following table summarizes the primary segments of the loan portfolio as of June 30, 2015 and December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

Commercial Real Estate

Acquisition and Development

Commercial and Industrial

Residential Mortgage

Consumer

Total

June 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Individually evaluated for impairment

$
12,598 

$
5,892 

$
1,474 

$
4,620 

$
0 

$
24,584 

  Collectively evaluated for impairment

$
248,577 

$
88,981 

$
92,057 

$
366,335 

$
24,556 

$
820,506 

Total loans

$
261,175 

$
94,873 

$
93,531 

$
370,955 

$
24,556 

$
845,090 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Individually evaluated for impairment

$
11,949 

$
6,553 

$
1,861 

$
4,418 

$
0 

$
24,781 

  Collectively evaluated for impairment

$
244,115 

$
92,748 

$
91,394 

$
363,223 

$
23,730 

$
815,210 

Total loans

$
256,064 

$
99,301 

$
93,255 

$
367,641 

$
23,730 

$
839,991 

 

Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating

 

The following table presents the classes of the loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention and Substandard within the internal risk rating system as of June 30, 2015 and December 31, 2014:

 

 

 

 

 

 

 

 

 

(in thousands)

Pass

Special Mention

Substandard

Total

June 30, 2015

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

    Non owner-occupied

$
118,276 

$
11,754 

$
11,002 

$
141,032 

    All other CRE

 
92,069 

 
9,397 

 
18,677 

 
120,143 

 Acquisition and development

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
15,232 

 
0 

 
700 

 
15,932 

    All other A&D

 
72,030 

 
78 

 
6,833 

 
78,941 

 Commercial and industrial

 
89,473 

 
688 

 
3,370 

 
93,531 

 Residential mortgage

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
285,546 

 
246 

 
10,378 

 
296,170 

    Residential mortgage - home equity

 
73,438 

 
49 

 
1,298 

 
74,785 

 Consumer

 
24,519 

 
0 

 
37 

 
24,556 

       Total

$
770,583 

$
22,212 

$
52,295 

$
845,090 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

    Non owner-occupied

$
115,276 

$
10,884 

$
11,273 

$
137,433 

    All other CRE

 
90,740 

 
8,618 

 
19,273 

 
118,631 

 Acquisition and development

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
12,920 

 
0 

 
790 

 
13,710 

    All other A&D

 
72,323 

 
1,356 

 
11,912 

 
85,591 

 Commercial and industrial

 
88,579 

 
884 

 
3,792 

 
93,255 

 Residential mortgage

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
280,113 

 
379 

 
10,934 

 
291,426 

    Residential mortgage - home equity

 
74,698 

 
90 

 
1,427 

 
76,215 

 Consumer

 
23,658 

 
0 

 
72 

 
23,730 

       Total

$
758,307 

$
22,211 

$
59,473 

$
839,991 

 

Loan Portfolio Summarized by the Past Due Status

 

The following table presents the classes of the loan portfolio summarized by the aging categories of performing loans and non-accrual loans as of June 30, 2015 and December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

Current

30-59 Days Past Due

60-89 Days Past Due

90 Days+ Past Due

Total Past Due and Accruing

Non-Accrual

Total Loans

June 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Non owner-occupied

$
136,368 

$
199 

$
2,820 

$
0 

$
3,019 

$
1,645 

$
141,032 

    All other CRE

 
115,151 

 
47 

 
0 

 
0 

 
47 

 
4,945 

 
120,143 

 Acquisition and development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
15,932 

 
0 

 
0 

 
0 

 
0 

 
0 

 
15,932 

    All other A&D

 
75,799 

 
0 

 
110 

 
20 

 
130 

 
3,012 

 
78,941 

 Commercial and industrial

 
93,242 

 
120 

 
0 

 
0 

 
120 

 
169 

 
93,531 

 Residential mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
291,279 

 
512 

 
2,240 

 
392 

 
3,144 

 
1,747 

 
296,170 

    Residential mortgage - home equity

 
73,855 

 
441 

 
125 

 
0 

 
566 

 
364 

 
74,785 

 Consumer

 
24,291 

 
208 

 
54 

 
3 

 
265 

 
0 

 
24,556 

       Total

$
825,917 

$
1,527 

$
5,349 

$
415 

$
7,291 

$
11,882 

$
845,090 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Non owner-occupied

$
135,994 

$
104 

$
183 

$
0 

$
287 

$
1,152 

$
137,433 

    All other CRE

 
112,825 

 
1,196 

 
0 

 
0 

 
1,196 

 
4,610 

 
118,631 

 Acquisition and development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
13,710 

 
0 

 
0 

 
0 

 
0 

 
0 

 
13,710 

    All other A&D

 
81,702 

 
239 

 
40 

 
1 

 
280 

 
3,609 

 
85,591 

 Commercial and industrial

 
93,060 

 
0 

 
20 

 
4 

 
24 

 
171 

 
93,255 

 Residential mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
279,340 

 
8,654 

 
1,350 

 
416 

 
10,420 

 
1,666 

 
291,426 

    Residential mortgage - home equity

 
74,913 

 
577 

 
313 

 
69 

 
959 

 
343 

 
76,215 

 Consumer

 
23,316 

 
287 

 
88 

 
39 

 
414 

 
0 

 
23,730 

       Total

$
814,860 

$
11,057 

$
1,994 

$
529 

$
13,580 

$
11,551 

$
839,991 

 

Primary Segments of the Allowance for Loan Loss

The following table summarizes the primary segments of the ALL, segregated by the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of June 30, 2015 and December 31, 2014: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

Commercial Real Estate

Acquisition and Development

Commercial and Industrial

Residential Mortgage

Consumer

 

Unallocated

Total

June 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Individually evaluated for impairment

$
30 

$
1,052 

$
0 

$
84 

$
0 

$
0 

$
1,166 

  Collectively evaluated for impairment

$
2,536 

$
2,754 

$
1,007 

$
3,623 

$
223 

$
500 

$
10,643 

Total ALL

$
2,566 

$
3,806 

$
1,007 

$
3,707 

$
223 

$
500 

$
11,809 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Individually evaluated for impairment

$
36 

$
1,141 

$
0 

$
59 

$
0 

$
0 

$
1,236 

  Collectively evaluated for impairment

$
2,388 

$
2,771 

$
1,680 

$
3,803 

$
187 

$
0 

$
10,829 

Total ALL

$
2,424 

$
3,912 

$
1,680 

$
3,862 

$
187 

$
0 

$
12,065 

 

Impaired Loans and Related Interest Income by Loan Portfolio Class

The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary as of June 30, 2015 and December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Impaired Loans with Specific Allowance

 

Impaired Loans with No Specific Allowance

 

Total Impaired Loans

(in thousands)

 

Recorded Investment

 

Related Allowances

 

Recorded Investment

 

Recorded Investment

 

Unpaid Principal Balance

June 30, 2015

 

 

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

 

 

    Non owner-occupied

$
138 

$
30 

$
4,492 

$
4,630 

$
4,640 

    All other CRE

 
0 

 
0 

 
7,968 

 
7,968 

 
8,459 

 Acquisition and development

 

 

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
700 

 
68 

 
0 

 
700 

 
746 

    All other A&D

 
4,472 

 
984 

 
720 

 
5,192 

 
8,933 

 Commercial and industrial

 
0 

 
0 

 
1,474 

 
1,474 

 
2,336 

 Residential mortgage

 

 

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
298 

 
84 

 
3,958 

 
4,256 

 
4,622 

    Residential mortgage – home equity

 
0 

 
0 

 
364 

 
364 

 
385 

 Consumer

 
0 

 
0 

 
0 

 
0 

 
0 

       Total impaired loans

$
5,608 

$
1,166 

$
18,976 

$
24,584 

$
30,121 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

 

 

    Non owner-occupied

$
143 

$
35 

$
4,353 

$
4,496 

$
4,543 

    All other CRE

 
0 

 
0 

 
7,453 

 
7,453 

 
7,944 

 Acquisition and development

 

 

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
790 

 
105 

 
0 

 
790 

 
836 

    All other A&D

 
3,615 

 
1,037 

 
2,148 

 
5,763 

 
9,590 

 Commercial and industrial

 
0 

 
0 

 
1,861 

 
1,861 

 
2,723 

 Residential mortgage

 

 

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
296 

 
59 

 
3,779 

 
4,075 

 
4,485 

    Residential mortgage – home equity

 
0 

 
0 

 
343 

 
343 

 
363 

 Consumer

 
0 

 
0 

 
0 

 
0 

 
0 

       Total impaired loans

$
4,844 

$
1,236 

$
19,937 

$
24,781 

$
30,484 

 

Allowance for Loan Losses Summarized by Loan Portfolio Segments

The following tables present the activity in the ALL for the six- and three-month periods ended June 30, 2015 and 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

Commercial Real Estate

Acquisition and Development

Commercial and Industrial

Residential Mortgage

Consumer

 

Unallocated

Total

ALL balance at January 1, 2015

$
2,424 

$
3,912 

$
1,680 

$
3,862 

$
187 

$
0 

$
12,065 

Charge-offs

 
(287)

 
(256)

 
0 

 
(36)

 
(174)

 
0 

 
(753)

Recoveries

 
65 

 
41 

 
20 

 
133 

 
112 

 
0 

 
371 

Provision

 
364 

 
109 

 
(693)

 
(252)

 
98 

 
500 

 
126 

ALL balance at June 30, 2015

$
2,566 

$
3,806 

$
1,007 

$
3,707 

$
223 

$
500 

$
11,809 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ALL balance at January 1, 2014

$
4,052 

$
4,172 

$
766 

$
4,320 

$
284 

$
0 

$
13,594 

Charge-offs

 
(21)

 
(1,520)

 
(208)

 
(566)

 
(263)

 
0 

 
(2,578)

Recoveries

 
10 

 
71 

 
7 

 
156 

 
262 

 
0 

 
506 

Provision

 
(1,202)

 
919 

 
988 

 
268 

 
(32)

 
0 

 
941 

ALL balance at June 30, 2014

$
2,839 

$
3,642 

$
1,553 

$
4,178 

$
251 

$
0 

$
12,463 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

Commercial Real Estate

Acquisition and Development

Commercial and Industrial

Residential Mortgage

Consumer

 

Unallocated

Total

ALL balance at April 1, 2015

$
2,576 

$
3,692 

$
1,477 

$
3,790 

$
216 

$
0 

$
11,751 

Charge-offs

 
0 

 
(25)

 
0 

 
(73)

 
(78)

 
0 

 
(176)

Recoveries

 
62 

 
26 

 
13 

 
28 

 
53 

 
0 

 
182 

Provision

 
(72)

 
113 

 
(483)

 
(38)

 
32 

 
500 

 
52 

ALL balance at June 30, 2015

$
2,566 

$
3,806 

$
1,007 

$
3,707 

$
223 

$
500 

$
11,809 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ALL balance at April 1, 2014

$
3,399 

$
3,896 

$
1,070 

$
3,962 

$
245 

$
0 

$
12,572 

Charge-offs

 
0 

 
(701)

 
(56)

 
(98)

 
(84)

 
0 

 
(939)

Recoveries

 
0 

 
59 

 
4 

 
107 

 
83 

 
0 

 
253 

Provision

 
(560)

 
388 

 
535 

 
207 

 
7 

 
0 

 
577 

ALL balance at June 30, 2014

$
2,839 

$
3,642 

$
1,553 

$
4,178 

$
251 

$
0 

$
12,463 

 

Average of Impaired Loans and Related Interest Income by Loan Portfolio Class

The following tables present the average recorded investment in impaired loans by class and related interest income recognized for the periods indicated:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended

Six months ended

 

June 30, 2015

June 30, 2014

(in thousands)

Average investment

Interest income recognized on an accrual basis

Interest income recognized on a cash basis

Average investment

Interest income recognized on an accrual basis

Interest income recognized on a cash basis

 Commercial real estate

 

 

 

 

 

 

 

 

 

 

 

 

    Non owner-occupied

$
4,224 

$
78 

$
0 

$
1,105 

$
11 

$
0 

    All other CRE

 
7,533 

 
55 

 
8 

 
9,936 

 
81 

 
44 

 Acquisition and development

 

 

 

 

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
760 

 
18 

 
0 

 
1,919 

 
25 

 
0 

    All other A&D

 
5,417 

 
63 

 
0 

 
8,567 

 
96 

 
0 

 Commercial and industrial

 
1,617 

 
47 

 
18 

 
2,126 

 
49 

 
2 

 Residential mortgage

 

 

 

 

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
4,146 

 
82 

 
2 

 
6,648 

 
107 

 
52 

    Residential mortgage – home equity

 
373 

 
0 

 
2 

 
686 

 
4 

 
1 

 Consumer

 
7 

 
0 

 
0 

 
11 

 
0 

 
0 

       Total

$
24,077 

$
343 

$
30 

$
30,998 

$
373 

$
99 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

Three months ended

 

June 30, 2015

June 30, 2014

(in thousands)

Average investment

Interest income recognized on an accrual basis

Interest income recognized on a cash basis

Average investment

Interest income recognized on an accrual basis

Interest income recognized on a cash basis

 Commercial real estate

 

 

 

 

 

 

 

 

 

 

 

 

    Non owner-occupied

$
4,088 

$
38 

$
0 

$
1,068 

$
4 

$
0 

    All other CRE

 
7,574 

 
28 

 
7 

 
9,624 

 
40 

 
43 

 Acquisition and development

 

 

 

 

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
746 

 
9 

 
0 

 
1,549 

 
11 

 
0 

    All other A&D

 
5,245 

 
31 

 
0 

 
8,329 

 
35 

 
0 

 Commercial and industrial

 
1,495 

 
24 

 
18 

 
2,040 

 
23 

 
0 

 Residential mortgage

 

 

 

 

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
4,181 

 
42 

 
2 

 
6,489 

 
53 

 
43 

    Residential mortgage – home equity

 
388 

 
0 

 
2 

 
739 

 
1 

 
0 

 Consumer

 
7 

 
0 

 
0 

 
0 

 
0 

 
0 

       Total

$
23,724 

$
172 

$
29 

$
29,838 

$
167 

$
86 

 

Modification of Troubled Debt Restructuring by Class

 

The following tables present the volume and recorded investment at the time of modification of TDRs by class and type of modification that occurred during the periods indicated:

 

 

 

 

 

 

 

 

 

 

 

 

Temporary Rate Modification

Extension of Maturity

Modification of Payment and Other Terms

(in thousands)

Number of Contracts

Recorded Investment

Number of Contracts

Recorded Investment

Number of Contracts

Recorded Investment

Six Months Ended June 30, 2015

 

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

 

    Non owner-occupied
0 

$
0 
1 

$
3,097 
1 

$
136 

    All other CRE
0 

 
0 
1 

 
237 
5 

 
3,847 

 Acquisition and development

 

 

 

 

 

 

 

 

 

    1-4 family residential construction
0 

 
0 
0 

 
0 
0 

 
0 

    All other A&D
0 

 
0 
3 

 
372 
0 

 
0 

 Commercial and industrial
0 

 
0 
1 

 
930 
0 

 
0 

 Residential mortgage

 

 

 

 

 

 

 

 

 

    Residential mortgage – term
0 

 
0 
2 

 
599 
1 

 
116 

    Residential mortgage – home equity
0 

 
0 
0 

 
0 
0 

 
0 

 Consumer
0 

 
0 
0 

 
0 
0 

 
0 

       Total

0 

$
0 
8 

$
5,235 
7 

$
4,099 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Temporary Rate Modification

Extension of Maturity

Modification of Payment and Other Terms

(in thousands)

Number of Contracts

Recorded Investment

Number of Contracts

Recorded Investment

Number of Contracts

Recorded Investment

Three months ended June 30, 2015

 

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

 

    Non owner-occupied
0 

$
0 
0 

$
0 
0 

$
0 

    All other CRE
0 

 
0 
1 

 
237 
0 

 
0 

 Acquisition and development

 

 

 

 

 

 

 

 

 

    1-4 family residential construction
0 

 
0 
0 

 
0 
0 

 
0 

    All other A&D
0 

 
0 
0 

 
0 
0 

 
0 

 Commercial and industrial
0 

 
0 
1 

 
930 
0 

 
0 

 Residential mortgage

 

 

 

 

 

 

 

 

 

    Residential mortgage – term
0 

 
0 
0 

 
0 
0 

 
0 

    Residential mortgage – home equity
0 

 
0 
0 

 
0 
0 

 
0 

 Consumer
0 

 
0 
0 

 
0 
0 

 
0 

       Total

0 

$
0 
2 

$
1,167 
0 

$
0 

 

 

 

 

 

 

 

 

 

 

 

 

 

Temporary Rate Modification

Extension of Maturity

Modification of Payment and Other Terms

(in thousands)

Number of Contracts

Recorded Investment

Number of Contracts

 

Recorded Investment

Number of Contracts

Recorded Investment

Six Months Ended June 30, 2014

 

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

 

    Non owner-occupied
0 

$
0 
2 

$
277 
0 

$
0 

    All other CRE
0 

 
0 
0 

 
0 
4 

 
2,627 

 Acquisition and development

 

 

 

 

 

 

 

 

 

    1-4 family residential construction
0 

 
0 
0 

 
0 
0 

 
0 

    All other A&D
0 

 
0 
0 

 
0 
0 

 
0 

 Commercial and industrial
0 

 
0 
0 

 
0 
0 

 
0 

 Residential mortgage

 

 

 

 

 

 

 

 

 

    Residential mortgage – term
1 

 
90 
0 

 
0 
0 

 
0 

    Residential mortgage – home equity
0 

 
0 
0 

 
0 
0 

 
0 

 Consumer
0 

 
0 
0 

 
0 
0 

 
0 

       Total

1 

$
90 
2 

$
277 
4 

$
2,627 

 

 

 

 

 

 

 

 

 

 

 

 

 

Temporary Rate

 

Modification of Payment

 

Modification

Extension of Maturity

and Other Terms

 

Number of

Recorded

Number of

Recorded

Number of

Recorded

(in thousands)

Contracts

Investment

Contracts

Investment

Contracts

Investment

Three Months Ended June 30, 2014

 

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

 

    Non owner-occupied
0 

$
0 
0 

$
0 
0 

$
0 

    All other CRE
0 

 
0 
0 

 
0 
3 

 
2,173 

 Acquisition and development

 

 

 

 

 

 

 

 

 

    1-4 family residential construction
0 

 
0 
0 

 
0 
0 

 
0 

    All other A&D
0 

 
0 
0 

 
0 
0 

 
0 

 Commercial and industrial
0 

 
0 
0 

 
0 
0 

 
0 

 Residential mortgage

 

 

 

 

 

 

 

 

 

    Residential mortgage – term
0 

 
0 
0 

 
0 
0 

 
0 

    Residential mortgage – home equity
0 

 
0 
0 

 
0 
0 

 
0 

 Consumer
0 

 
0 
0 

 
0 
0 

 
0 

       Total

0 

$
0 
0 

$
0 
3 

$
2,173