XML 17 R39.htm IDEA: XBRL DOCUMENT v2.4.0.8
Loans (Tables)
 12 Months Ended
Dec. 31, 2013
Loans  
Schedule of loans by primary loan portfolio segment

 

 

 

December 31,

 

(In thousands)

 

2013

 

2012

 

Commercial and industrial

 

$

510,739

 

$

426,930

 

Construction and development, excluding undeveloped land

 

91,719

 

85,456

 

Undeveloped land

 

37,871

 

45,797

 

Real estate mortgage

 

1,046,823

 

989,631

 

Consumer

 

34,198

 

36,780

 

 

 

 

 

 

 

 

 

$

1,721,350

 

$

1,584,594

 
Schedule of loans to directors and their associates, including loans to companies for which directors are principal owners, and executive officers

 

(in thousands)

 

Year ended December 31,

 

Loans to directors and executive officers

 

2013

 

2012

 

Balance as of January 1

 

$

6,099

 

$

622

 

New loans and advances on lines of credit

 

10,006

 

6,691

 

Repayments on loans and lines of credit

 

7,438

 

1,214

 

Balance as of December 31

 

$

8,667

 

$

6,099

 
Schedule of the balance in the recorded investment in loans and allowance for loan losses by portfolio segment and based on impairment method

 

 

 

Type of loan

 

 

 

 

 

 

 

 

 

Construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and development

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

excluding

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

and

 

undeveloped

 

Undeveloped

 

Real estate

 

 

 

 

 

 

 

December 31, 2013

 

industrial

 

land

 

land

 

mortgage

 

Consumer

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

 

$

510,739

 

$

91,719

 

$

37,871

 

$

1,046,823

 

$

34,198

 

 

 

$

1,721,350

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans individually evaluated for impairment

 

$

7,579

 

$

26

 

$

7,340

 

$

7,478

 

$

84

 

 

 

$

22,507

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans collectively evaluated for impairment

 

$

502,535

 

$

90,428

 

$

30,531

 

$

1,038,824

 

$

34,095

 

 

 

$

1,696,413

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance: loans acquired with deteriorated credit quality

 

$

625

 

$

1,265

 

$

—

 

$

521

 

$

19

 

 

 

$

2,430

 

 

 

 

 

 

Construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and development

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

excluding

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

undeveloped

 

Undeveloped

 

Real estate

 

 

 

 

 

 

 

 

 

industrial

 

land

 

land

 

mortgage

 

Consumer

 

Unallocated

 

Total

 

Allowance for loan losses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2012

 

$

5,949

 

$

4,536

 

$

—

 

$

14,288

 

$

362

 

$

6,746

 

$

31,881

 

Provision

 

1,583

 

(2,119

)

13,256

 

490

 

86

 

(6,746

)

6,550

 

Charge-offs

 

(457

)

(25

)

(7,961

)

(2,758

)

(763

)

—

 

(11,964

)

Recoveries

 

569

 

163

 

81

 

584

 

658

 

—

 

2,055

 

At December 31, 2013

 

$

7,644

 

$

2,555

 

$

5,376

 

$

12,604

 

$

343

 

$

—

 

$

28,522

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loans individually evaluated for impairment

 

$

762

 

$

—

 

$

—

 

$

606

 

$

84

 

 

 

$

1,452

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loans collectively evaluated for impairment

 

$

6,882

 

$

2,555

 

$

5,376

 

$

11,998

 

$

259

 

$

—

 

$

27,070

 

 

 

 

Type of loan

 

 

 

 

 

(in thousands)

 

Commercial

 

Construction

 

Real estate

 

 

 

 

 

 

 

December 31, 2012

 

and industrial

 

and development

 

mortgage

 

Consumer

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

 

$

426,930

 

$

131,253

 

$

989,631

 

$

36,780

 

 

 

$

1,584,594

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans individually evaluated for impairment

 

$

8,667

 

$

10,863

 

$

9,795

 

$

4

 

 

 

$

29,329

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans collectively evaluated for impairment

 

$

418,263

 

$

120,390

 

$

979,836

 

$

36,776

 

 

 

$

1,555,265

 

 

 

 

Commercial

 

Construction

 

Real estate

 

 

 

 

 

 

 

 

 

and industrial

 

and development

 

mortgage

 

Consumer

 

Unallocated

 

Total

 

Allowance for loan losses

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2011

 

$

7,364

 

$

3,546

 

$

11,182

 

$

540

 

$

7,113

 

$

29,745

 

Provision

 

3,024

 

2,716

 

6,308

 

(181

)

(367

)

11,500

 

Charge-offs

 

(4,523

)

(1,726

)

(3,451

)

(798

)

—

 

(10,498

)

Recoveries

 

84

 

—

 

249

 

801

 

—

 

1,134

 

At December 31, 2012

 

$

5,949

 

$

4,536

 

$

14,288

 

$

362

 

$

6,746

 

$

31,881

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loans individually evaluated for impairment

 

$

156

 

$

2,898

 

$

563

 

$

—

 

 

 

$

3,617

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loans collectively evaluated for impairment

 

$

5,793

 

$

1,638

 

$

13,725

 

$

362

 

$

6,746

 

$

28,264

 

 

 

 

Type of loan

 

 

 

 

 

 

 

Commercial

 

Construction

 

Real estate

 

 

 

 

 

 

 

December 31, 2011

 

and industrial

 

and development

 

mortgage

 

Consumer

 

 

 

Total

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

 

$

393,729

 

$

147,637

 

$

966,665

 

$

36,814

 

 

 

$

1,544,845

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans individually evaluated for impairment

 

$

5,459

 

$

2,416

 

$

14,170

 

$

94

 

 

 

$

22,139

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans collectively evaluated for impairment

 

$

388,270

 

$

145,221

 

$

952,495

 

$

36,720

 

 

 

$

1,522,706

 

 

 

 

Commercial

 

Construction

 

Real estate

 

 

 

 

 

 

 

 

 

and industrial

 

and development

 

mortgage

 

Consumer

 

Unallocated

 

Total

 

Allowance for loan losses

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2010

 

$

2,796

 

$

2,280

 

$

12,272

 

$

623

 

$

7,572

 

$

25,543

 

Provision

 

5,475

 

2,859

 

4,592

 

133

 

(459

)

12,600

 

Charge-offs

 

(1,015

)

(1,593

)

(5,840

)

(673

)

—

 

(9,121

)

Recoveries

 

108

 

—

 

158

 

457

 

—

 

723

 

At December 31, 2011

 

$

7,364

 

$

3,546

 

$

11,182

 

$

540

 

$

7,113

 

$

29,745

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loans individually evaluated for impairment

 

$

954

 

$

10

 

$

1,597

 

$

—

 

 

 

$

2,561

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loans collectively evaluated for impairment

 

$

6,410

 

$

3,536

 

$

9,585

 

$

540

 

$

7,113

 

$

27,184

 
Schedule of the changes in accretable discount related to credit impaired acquired loans

 

(in thousands)

 

 

 

 

 

 

 

Balance at December 31, 2012

 

$

—

 

Additions due to Oldham acquisition

 

174

 

Accretion

 

(37

)

Reclassifications from (to) non-accretable difference

 

—

 

Disposals

 

—

 

Balance at December 31, 2013

 

$

137

 
Schedule of loans individually evaluated for impairment

 

 

 

 

 

Unpaid

 

 

 

Average

 

(in thousands)

 

Recorded

 

principal

 

Related

 

recorded

 

December 31, 2013

 

investment

 

balance

 

allowance

 

investment

 

 

 

 

 

 

 

 

 

 

 

Loans with no related allowance recorded

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

830

 

$

974

 

$

—

 

$

4,499

 

Construction and development, excluding undeveloped land

 

26

 

151

 

—

 

54

 

Undeveloped land

 

7,340

 

9,932

 

—

 

3,272

 

Real estate mortgage

 

3,731

 

5,069

 

—

 

5,559

 

Consumer

 

—

 

—

 

—

 

3

 

Subtotal

 

11,927

 

16,126

 

—

 

13,387

 

 

 

 

 

 

 

 

 

 

 

Loans with an allowance recorded

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

6,749

 

$

6,749

 

$

762

 

$

3,806

 

Construction and development, excluding undeveloped land

 

—

 

—

 

—

 

259

 

Undeveloped land

 

—

 

—

 

—

 

7,152

 

Real estate mortgage

 

3,747

 

4,065

 

606

 

3,705

 

Consumer

 

84

 

84

 

84

 

34

 

Subtotal

 

10,580

 

10,898

 

1,452

 

14,956

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

7,579

 

$

7,723

 

$

762

 

$

8,305

 

Construction and development, excluding undeveloped land

 

26

 

151

 

—

 

313

 

Undeveloped land

 

7,340

 

9,932

 

—

 

10,424

 

Real estate mortgage

 

7,478

 

9,134

 

606

 

9,264

 

Consumer

 

84

 

84

 

84

 

37

 

Total

 

$

22,507

 

$

27,024

 

$

1,452

 

$

28,343

 

 

 

 

 

 

Unpaid

 

 

 

Average

 

(in thousands)

 

Recorded

 

principal

 

Related

 

recorded

 

December 31, 2012

 

investment

 

balance

 

allowance

 

investment

 

 

 

 

 

 

 

 

 

 

 

Loans with no related allowance recorded

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

6,735

 

$

7,591

 

$

—

 

$

6,226

 

Construction and development, excluding undeveloped land

 

118

 

381

 

—

 

158

 

Undeveloped land

 

234

 

1,806

 

—

 

886

 

Real estate mortgage

 

6,996

 

7,752

 

—

 

6,451

 

Consumer

 

4

 

25

 

—

 

21

 

Subtotal

 

14,087

 

17,555

 

—

 

13,742

 

 

 

 

 

 

 

 

 

 

 

Loans with an allowance recorded

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

1,932

 

5,103

 

156

 

3,294

 

Construction and development, excluding undeveloped land

 

433

 

433

 

—

 

260

 

Undeveloped land

 

10,078

 

10,702

 

2,898

 

7,232

 

Real estate mortgage

 

2,799

 

2,948

 

563

 

4,583

 

Consumer

 

—

 

—

 

—

 

—

 

Subtotal

 

15,242

 

19,186

 

3,617

 

15,369

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

8,667

 

$

12,694

 

$

156

 

$

9,520

 

Construction and development, excluding undeveloped land

 

551

 

814

 

—

 

418

 

Undeveloped land

 

10,312

 

12,508

 

2,898

 

8,118

 

Real estate mortgage

 

9,795

 

10,700

 

563

 

11,034

 

Consumer

 

4

 

25

 

—

 

21

 

Total

 

$

29,329

 

$

36,741

 

$

3,617

 

$

29,111

 
Schedule of recorded investment in non-accrual loans

 

(In thousands)

 

2013

 

2012

 

 

 

 

 

 

 

Commercial and industrial

 

$

846

 

$

1,554

 

Construction and development, excluding undeveloped land

 

26

 

551

 

Undeveloped land

 

7,340

 

10,312

 

Real estate mortgage

 

7,046

 

5,939

 

Consumer

 

—

 

4

 

 

 

 

 

 

 

Total

 

$

15,258

 

$

18,360

 

 
Schedule of the recorded investment in loans modified and classified as TDR

 

 

 

 

 

Pre-modification

 

Post-modification

 

(dollars in thousands)

 

Number of

 

outstanding recorded

 

outstanding recorded

 

December 31, 2013

 

contracts

 

investment

 

investment

 

 

 

 

 

 

 

 

 

Commercial & industrial

 

1

 

$

796

 

$

796

 

Real estate mortgage

 

1

 

85

 

85

 

 

 

 

 

 

 

 

 

Total

 

2

 

$

881

 

$

881

 

 

 

 

 

 

Pre-modification

 

Post-modification

 

(dollars in thousands)

 

Number of

 

outstanding recorded

 

outstanding recorded

 

December 31, 2012

 

contracts

 

investment

 

investment

 

 

 

 

 

 

 

 

 

Commercial & industrial

 

3

 

$

5,752

 

$

5,752

 

Real estate mortgage

 

5

 

3,862

 

3,862

 

Total

 

8

 

$

9,614

 

$

9,614

 
Schedule of the recorded investment in loans accounted for as TDR that were restructured and experienced a payment default

 

(dollars in thousands)

 

Number of

 

 

 

December 31, 2013

 

Contracts

 

Recorded investment

 

 

 

 

 

 

 

Commercial & industrial

 

1

 

$

790

 

Real estate mortgage

 

2

 

2,425

 

 

 

 

 

 

 

Total

 

3

 

$

3,215

 

 

(dollars in thousands)

 

Number of

 

 

 

December 31, 2012

 

Contracts

 

Recorded investment

 

 

 

 

 

 

 

Commercial & industrial

 

1

 

$

627

 

Real estate mortgage

 

1

 

295

 

 

 

 

 

 

 

Total

 

2

 

$

922

 
Schedule of aging of the recorded investment in past due loans

 

 

 

 

 

 

 

Greater

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

than

 

 

 

 

 

 

 

Recorded

 

 

 

 

 

 

 

90 days

 

 

 

 

 

 

 

investment

 

 

 

 

 

 

 

past due

 

 

 

 

 

 

 

> 90 days

 

 

 

30-59 days

 

60-89 days

 

(includes

 

Total

 

 

 

Total

 

and

 

(in thousands)

 

past due

 

past due

 

non-accrual)

 

past due

 

Current

 

loans

 

accruing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

808

 

$

201

 

$

1,268

 

$

2,277

 

$

508,462

 

$

510,739

 

$

421

 

Construction and development, excluding undeveloped land

 

429

 

—

 

26

 

455

 

91,264

 

91,719

 

—

 

Undeveloped land

 

—

 

—

 

7,340

 

7,340

 

30,531

 

37,871

 

—

 

Real estate mortgage

 

4,529

 

1,180

 

7,062

 

12,771

 

1,034,052

 

1,046,823

 

16

 

Consumer

 

110

 

—

 

—

 

110

 

34,088

 

34,198

 

—

 

Total

 

$

5,876

 

$

1,381

 

$

15,696

 

$

22,953

 

$

1,698,397

 

$

1,721,350

 

$

437

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

212

 

$

42

 

$

1,554

 

$

1,808

 

$

425,122

 

$

426,930

 

$

—

 

Construction and development, excluding undeveloped land

 

—

 

—

 

551

 

551

 

84,905

 

85,456

 

—

 

Undeveloped land

 

—

 

4,284

 

10,312

 

14,596

 

31,201

 

45,797

 

 

 

Real estate mortgage

 

3,771

 

1,952

 

6,424

 

12,147

 

977,484

 

989,631

 

485

 

Consumer

 

79

 

—

 

238

 

317

 

36,463

 

36,780

 

234

 

Total

 

$

4,062

 

$

6,278

 

$

19,079

 

$

29,419

 

$

1,555,175

 

$

1,584,594

 

$

719

 
Schedule of credit risk profile by internally assigned grade

 

(in thousands)

 

Commercial
and industrial

 

Construction
and
development,
excluding
undeveloped
land

 

Undeveloped
land

 

Real estate
mortgage

 

Consumer

 

Total

 

December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

Grade

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

486,140

 

$

79,896

 

$

30,366

 

$

1,014,216

 

$

34,028

 

$

1,644,646

 

Special mention

 

12,983

 

7,091

 

—

 

17,916

 

86

 

38,076

 

Substandard

 

3,616

 

4,706

 

165

 

7,197

 

—

 

15,684

 

Substandard non- performing

 

8,000

 

26

 

7,340

 

7,494

 

84

 

22,944

 

Doubtful

 

—

 

—

 

—

 

—

 

—

 

—

 

Total

 

$

510,739

 

$

91,719

 

$

37,871

 

$

1,046,823

 

$

34,198

 

$

1,721,350

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

Grade

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

404,045

 

$

78,621

 

$

34,388

 

$

925,674

 

$

36,542

 

$

1,479,270

 

Special mention

 

11,097

 

6,284

 

547

 

26,770

 

—

 

44,698

 

Substandard

 

4,482

 

—

 

550

 

26,901

 

—

 

31,933

 

Substandard non- performing

 

7,306

 

551

 

10,312

 

10,286

 

238

 

28,693

 

Doubtful

 

—

 

—

 

—

 

—

 

—

 

—

 

Total

 

$

426,930

 

$

85,456

 

$

45,797

 

$

989,631

 

$

36,780

 

$

1,584,594