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Loans and Related Allowance for Loan Losses (Tables)
 9 Months Ended
Sep. 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 September 30, 2015 and December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

Commercial Real Estate

Acquisition and Development

Commercial and Industrial

Residential Mortgage

Consumer

Total

September 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Individually evaluated for impairment

$
12,484 

$
5,690 

$
1,031 

$
4,820 

$
0 

$
24,025 

  Collectively evaluated for impairment

$
253,449 

$
93,066 

$
73,749 

$
374,127 

$
24,676 

$
819,067 

Total loans

$
265,933 

$
98,756 

$
74,780 

$
378,947 

$
24,676 

$
843,092 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 September 30, 2015 and December 31, 2014:

 

 

 

 

 

 

 

 

 

(in thousands)

Pass

Special Mention

Substandard

Total

September 30, 2015

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

    Non owner-occupied

$
125,412 

$
11,669 

$
10,462 

$
147,543 

    All other CRE

 
99,712 

 
565 

 
18,113 

 
118,390 

 Acquisition and development

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
15,752 

 
0 

 
700 

 
16,452 

    All other A&D

 
75,595 

 
76 

 
6,633 

 
82,304 

 Commercial and industrial

 
71,292 

 
252 

 
3,236 

 
74,780 

 Residential mortgage

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
291,679 

 
238 

 
10,350 

 
302,267 

    Residential mortgage - home equity

 
74,901 

 
49 

 
1,730 

 
76,680 

 Consumer

 
24,659 

 
0 

 
17 

 
24,676 

       Total

$
779,002 

$
12,849 

$
51,241 

$
843,092 

 

 

 

 

 

 

 

 

 

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 September 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

September 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Non owner-occupied

$
145,975 

$
69 

$
0 

$
0 

$
69 

$
1,499 

$
147,543 

    All other CRE

 
112,969 

 
179 

 
187 

 
148 

 
514 

 
4,907 

 
118,390 

 Acquisition and development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
16,452 

 
0 

 
0 

 
0 

 
0 

 
0 

 
16,452 

    All other A&D

 
79,110 

 
0 

 
252 

 
0 

 
252 

 
2,942 

 
82,304 

 Commercial and industrial

 
74,532 

 
79 

 
0 

 
0 

 
79 

 
169 

 
74,780 

 Residential mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
297,653 

 
438 

 
1,638 

 
509 

 
2,585 

 
2,029 

 
302,267 

    Residential mortgage - home equity

 
75,374 

 
798 

 
278 

 
0 

 
1,076 

 
230 

 
76,680 

 Consumer

 
24,446 

 
178 

 
52 

 
0 

 
230 

 
0 

 
24,676 

       Total

$
826,511 

$
1,741 

$
2,407 

$
657 

$
4,805 

$
11,776 

$
843,092 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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, as of September 30, 2015 and December 31, 2014 segregated by the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

Commercial Real Estate

Acquisition and Development

Commercial and Industrial

Residential Mortgage

Consumer

 

Unallocated

Total

September 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Individually evaluated for impairment

$
29 

$
1,607 

$
0 

$
84 

$
0 

$
0 

$
1,720 

  Collectively evaluated for impairment

$
2,552 

$
2,881 

$
734 

$
3,608 

$
216 

$
500 

$
10,491 

Total ALL

$
2,581 

$
4,488 

$
734 

$
3,692 

$
216 

$
500 

$
12,211 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 September 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

September 30, 2015

 

 

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

 

 

    Non owner-occupied

$
137 

$
29 

$
4,445 

$
4,582 

$
4,592 

    All other CRE

 
0 

 
0 

 
7,902 

 
7,902 

 
8,401 

 Acquisition and development

 

 

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
700 

 
68 

 
0 

 
700 

 
746 

    All other A&D

 
4,419 

 
1,539 

 
571 

 
4,990 

 
8,756 

 Commercial and industrial

 
0 

 
0 

 
1,031 

 
1,031 

 
3,298 

 Residential mortgage

 

 

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
298 

 
84 

 
4,245 

 
4,543 

 
4,967 

    Residential mortgage – home equity

 
0 

 
0 

 
277 

 
277 

 
298 

 Consumer

 
0 

 
0 

 
0 

 
0 

 
0 

       Total impaired loans

$
5,554 

$
1,720 

$
18,471 

$
24,025 

$
31,058 

 

 

 

 

 

 

 

 

 

 

 

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 nine- and three-month periods ended September 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

 
(295)

 
(256)

 
0 

 
(200)

 
(247)

 
0 

 
(998)

Recoveries

 
66 

 
100 

 
24 

 
162 

 
166 

 
0 

 
518 

Provision

 
386 

 
732 

 
(970)

 
(132)

 
110 

 
500 

 
626 

ALL balance at September 30, 2015

$
2,581 

$
4,488 

$
734 

$
3,692 

$
216 

$
500 

$
12,211 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ALL balance at January 1, 2014

$
4,052 

$
4,172 

$
766 

$
4,320 

$
284 

$
0 

$
13,594 

Charge-offs

 
(85)

 
(2,423)

 
(213)

 
(682)

 
(380)

 
0 

 
(3,783)

Recoveries

 
11 

 
104 

 
22 

 
183 

 
308 

 
0 

 
628 

Provision

 
(1,386)

 
1,857 

 
1,016 

 
158 

 
(16)

 
0 

 
1,629 

ALL balance at September 30, 2014

$
2,592 

$
3,710 

$
1,591 

$
3,979 

$
196 

$
0 

$
12,068 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

Commercial Real Estate

Acquisition and Development

Commercial and Industrial

Residential Mortgage

Consumer

 

Unallocated

Total

ALL balance at July 1, 2015

$
2,566 

$
3,806 

$
1,007 

$
3,707 

$
223 

$
500 

$
11,809 

Charge-offs

 
(8)

 
0 

 
0 

 
(164)

 
(73)

 
0 

 
(245)

Recoveries

 
1 

 
59 

 
4 

 
29 

 
54 

 
0 

 
147 

Provision

 
22 

 
623 

 
(277)

 
120 

 
12 

 
0 

 
500 

ALL balance at September 30, 2015

$
2,581 

$
4,488 

$
734 

$
3,692 

$
216 

$
500 

$
12,211 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ALL balance at July 1, 2014

$
2,839 

$
3,642 

$
1,553 

$
4,178 

$
251 

$
0 

$
12,463 

Charge-offs

 
(64)

 
(903)

 
(5)

 
(116)

 
(117)

 
0 

 
(1,205)

Recoveries

 
1 

 
33 

 
15 

 
27 

 
46 

 
0 

 
122 

Provision

 
(184)

 
938 

 
28 

 
(110)

 
16 

 
0 

 
688 

ALL balance at September 30, 2014

$
2,592 

$
3,710 

$
1,591 

$
3,979 

$
196 

$
0 

$
12,068 

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended

Nine months ended

 

September 30, 2015

September 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

$
4,314 

$
117 

$
0 

$
1,890 

$
28 

$
0 

    All other CRE

 
7,626 

 
89 

 
8 

 
9,497 

 
116 

 
67 

 Acquisition and development

 

 

 

 

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
745 

 
26 

 
0 

 
1,690 

 
34 

 
0 

    All other A&D

 
5,311 

 
94 

 
0 

 
8,108 

 
129 

 
0 

 Commercial and industrial

 
1,471 

 
60 

 
18 

 
2,065 

 
70 

 
2 

 Residential mortgage

 

 

 

 

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
4,245 

 
124 

 
4 

 
6,552 

 
154 

 
55 

    Residential mortgage – home equity

 
349 

 
0 

 
2 

 
640 

 
4 

 
4 

 Consumer

 
7 

 
0 

 
0 

 
11 

 
0 

 
0 

       Total

$
24,068 

$
510 

$
32 

$
30,453 

$
535 

$
128 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

Three months ended

 

September 30, 2015

September 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

$
4,607 

$
39 

$
0 

$
2,591 

$
17 

$
0 

    All other CRE

 
7,935 

 
34 

 
0 

 
8,506 

 
35 

 
23 

 Acquisition and development

 

 

 

 

 

 

 

 

 

 

 

 

    1-4 family residential construction

 
701 

 
8 

 
0 

 
1,016 

 
9 

 
0 

    All other A&D

 
5,091 

 
31 

 
0 

 
7,540 

 
33 

 
0 

 Commercial and industrial

 
1,253 

 
13 

 
0 

 
1,905 

 
21 

 
0 

 Residential mortgage

 

 

 

 

 

 

 

 

 

 

 

 

    Residential mortgage - term

 
4,400 

 
42 

 
2 

 
6,225 

 
47 

 
3 

    Residential mortgage – home equity

 
321 

 
0 

 
0 

 
597 

 
0 

 
3 

 Consumer

 
0 

 
0 

 
0 

 
0 

 
0 

 
0 

       Total

$
24,308 

$
167 

$
2 

$
28,380 

$
162 

$
29 

 

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

Nine months ended September 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 
1 

 
700 

    All other A&D
0 

 
0 
3 

 
372 
1 

 
1,746 

 Commercial and industrial
0 

 
0 
1 

 
930 
0 

 
0 

 Residential mortgage

 

 

 

 

 

 

 

 

 

    Residential mortgage – term
1 

 
156 
2 

 
599 
1 

 
116 

    Residential mortgage – home equity
0 

 
0 
0 

 
0 
0 

 
0 

 Consumer
0 

 
0 
0 

 
0 
0 

 
0 

       Total

1 

$
156 
8 

$
5,235 
9 

$
6,545 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 September 30, 2015

 

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

 

    Non owner-occupied
0 

$
0 
0 

$
0 
0 

$
0 

    All other CRE
0 

 
0 
0 

 
0 
0 

 
0 

 Acquisition and development

 

 

 

 

 

 

 

 

 

    1-4 family residential construction
0 

 
0 
0 

 
0 
1 

 
700 

    All other A&D
0 

 
0 
0 

 
0 
1 

 
1,746 

 Commercial and industrial
0 

 
0 
0 

 
0 
0 

 
0 

 Residential mortgage

 

 

 

 

 

 

 

 

 

    Residential mortgage – term
1 

 
156 
0 

 
0 
0 

 
0 

    Residential mortgage – home equity
0 

 
0 
0 

 
0 
0 

 
0 

 Consumer
0 

 
0 
0 

 
0 
0 

 
0 

       Total

1 

$
156 
0 

$
0 
2 

$
2,446 

 

 

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

Nine Months Ended September 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 September 30, 2014

 

 

 

 

 

 

 

 

 

 Commercial real estate

 

 

 

 

 

 

 

 

 

    Non owner-occupied
0 

$
0 
0 

$
0 
0 

$
0 

    All other CRE
0 

 
0 
0 

 
0 
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 
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 
0 

$
0