10-Q 1 glbz-20170930x10q.htm 10-Q glbz_Current Folio_10Q

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

 

FORM 10-Q

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

For the Quarterly period ended September 30, 2017

 

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Commission file number 0-24047

 

GLEN BURNIE BANCORP

 

(Exact name of registrant as specified in its charter)

 

 

 

 

Maryland

    

52-1782444

(State or other jurisdiction of

 

(I.R.S. Employer

incorporation or organization)

 

Identification No.)

 

 

 

101 Crain Highway, S.E.

 

 

Glen Burnie, Maryland

 

21061

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (410) 766-3300

 

Inapplicable

(Former name, former address and former fiscal year if changed from last report.)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes  No

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes  No

 

Indicate by check mark if the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

 

 

 

 

Large accelerated filer

Accelerated filer

Non-Accelerated Filer

☐ (Do not check if a smaller reporting company)

Smaller Reporting Company

 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes ☐ No

 

At November 9, 2017, the number of shares outstanding of the registrant’s common stock was 2,801,149.

 

 

 


 

GLEN BURNIE BANCORP AND SUBSIDIARIES

TABLE OF CONTENTS

 

 

 

 

Page

Part I. 

FINANCIAL INFORMATION

 

 

 

 

Item 1. 

Financial Statements

 

 

 

 

 

Consolidated Balance Sheets, September 30, 2017 (unaudited) and December 31, 2016

3

 

 

 

 

Consolidated Statements of Income for the Three and Nine Months Ended September 30, 2017 and 2016 (unaudited)

4

 

 

 

 

Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended September 30, 2017 and 2016 (unaudited)

5

 

 

 

 

Consolidated Statements of Changes in Stockholders’ Equity (unaudited)

6

 

 

 

 

Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2017 and 2016 (unaudited)

7

 

 

 

 

Notes to Consolidated Financial Statements

8

 

 

 

Item 2. 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

20

 

 

 

Item 3. 

Quantitative and Qualitative Disclosures about Market Risk

27

 

 

 

Item 4. 

Controls and Procedures

30

 

 

 

Part II. 

OTHER INFORMATION

 

 

 

 

Item 1. 

Legal Proceedings

31

 

 

 

Item 2. 

Unregistered Sales of Equity Securities and Use of Proceeds

31

 

 

 

Item 3. 

Defaults Upon Senior Securities

31

 

 

 

Item 4. 

Mine Safety Disclosures

31

 

 

 

Item 5. 

Other Information

31

 

 

 

Item 6. 

Exhibits

32

 

 

 

 

SIGNATURES

33

 

 

 

 

 

 

-  2 -


 

PART I - FINANCIAL INFORMATION

ITEM 1.              CONSOLIDATED FINANCIAL STATEMENTS

GLEN BURNIE BANCORP AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

September 30, 

 

 

 

 

 

 

2017

 

December 31, 

 

 

    

(unaudited)

    

2016

 

ASSETS

 

 

 

 

 

 

 

Cash and due from banks

 

$

4,371

 

$

3,195

 

Interest-bearing deposits in other financial institutions

 

 

7,126

 

 

7,427

 

Cash and cash equivalents

 

 

11,497

 

 

10,622

 

Investment securities available for sale, at fair value

 

 

89,903

 

 

94,607

 

Restricted equity securities, at cost

 

 

1,228

 

 

1,230

 

Loans, net of deferred fees and costs

 

 

271,463

 

 

265,058

 

Less: Allowance for loan losses

 

 

(2,623)

 

 

(2,484)

 

Loans, net

 

 

268,840

 

 

262,574

 

Real estate acquired through foreclosure

 

 

114

 

 

114

 

Premises and equipment, at cost, less accumulated depreciation

 

 

3,451

 

 

3,638

 

Bank owned life insurance

 

 

9,479

 

 

9,328

 

Deferred tax assets, net

 

 

2,847

 

 

3,160

 

Accrued interest receivable

 

 

1,140

 

 

1,134

 

Accrued taxes receivable

 

 

638

 

 

674

 

Prepaid expenses

 

 

512

 

 

546

 

Other assets

 

 

235

 

 

814

 

Total Assets

 

$

389,884

 

$

388,441

 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

Noninterest-bearing

 

$

104,571

 

$

100,099

 

Interest-bearing

 

 

229,534

 

 

233,147

 

Total deposits

 

 

334,105

 

 

333,246

 

Short-term borrowings

 

 

20,000

 

 

10,000

 

Long-term borrowings

 

 

 —

 

 

10,000

 

Defined pension liability

 

 

328

 

 

369

 

Accrued interest payable on deposits

 

 

815

 

 

1,011

 

Total Liabilities

 

 

355,248

 

 

354,626

 

 

 

 

 

 

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

 

 

 

 

Common stock, par value $1, authorized 15,000,000 shares, issued and outstanding 2,797,477 and 2,786,855 shares as of September 30, 2017 and December 31, 2016 , respectively.

 

 

2,797

 

 

2,787

 

Additional paid-in capital

 

 

10,233

 

 

10,130

 

Retained earnings

 

 

21,935

 

 

21,708

 

Accumulated other comprehensive loss, net of tax

 

 

(329)

 

 

(810)

 

Total Stockholders' Equity

 

 

34,636

 

 

33,815

 

 

 

 

 

 

 

 

 

Total Liabilities and Stockholders' Equity

 

$

389,884

 

$

388,441

 

 

See accompanying notes to unaudited consolidated financial statements.

-  3 -


 

GLEN BURNIE BANCORP AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(dollars in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 

 

Nine Months Ended September 30, 

 

 

    

2017

    

2016

    

2017

    

2016

 

INTEREST INCOME

 

 

  

 

 

  

 

 

  

 

 

  

 

Loans, including fees

 

$

2,883

 

$

2,795

 

$

8,503

 

$

8,380

 

Interest and dividends on securities

 

 

498

 

 

492

 

 

1,523

 

 

1,467

 

Federal funds sold

 

 

53

 

 

31

 

 

115

 

 

91

 

Total interest income

 

 

3,434

 

 

3,318

 

 

10,141

 

 

9,938

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INTEREST EXPENSE

 

 

  

 

 

  

 

 

  

 

 

  

 

Deposits

 

 

324

 

 

364

 

 

984

 

 

1,133

 

Short-term borrowings

 

 

142

 

 

 —

 

 

309

 

 

 —

 

Long-term borrowings

 

 

33

 

 

162

 

 

185

 

 

481

 

Total interest expense

 

 

499

 

 

526

 

 

1,478

 

 

1,614

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

 

2,935

 

 

2,792

 

 

8,663

 

 

8,324

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for credit losses

 

 

78

 

 

116

 

 

243

 

 

233

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income after provision for credit losses

 

 

2,857

 

 

2,676

 

 

8,420

 

 

8,091

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NONINTEREST INCOME

 

 

  

 

 

  

 

 

  

 

 

  

 

Service charges on deposit accounts

 

 

72

 

 

83

 

 

208

 

 

247

 

Other fees and commissions

 

 

245

 

 

191

 

 

573

 

 

521

 

Gains on investment securities, net

 

 

 —

 

 

 —

 

 

 1

 

 

 1

 

Income on life insurance

 

 

51

 

 

54

 

 

151

 

 

161

 

Other income

 

 

 —

 

 

12

 

 

 2

 

 

12

 

Total other income

 

 

368

 

 

340

 

 

935

 

 

942

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NONINTEREST EXPENSE

 

 

  

 

 

  

 

 

  

 

 

  

 

Salaries and wages

 

 

1,579

 

 

1,743

 

 

4,615

 

 

4,782

 

Legal, accounting and other professional fees

 

 

180

 

 

173

 

 

648

 

 

595

 

Data processing and item processing services

 

 

130

 

 

184

 

 

442

 

 

519

 

FDIC insurance costs

 

 

64

 

 

79

 

 

188

 

 

232

 

Advertising and marketing related expenses

 

 

38

 

 

12

 

 

110

 

 

49

 

Loan collection costs

 

 

25

 

 

37

 

 

73

 

 

158

 

Telephone costs

 

 

98

 

 

50

 

 

212

 

 

145

 

Occupancy

 

 

382

 

 

272

 

 

865

 

 

801

 

Other expenses

 

 

217

 

 

406

 

 

944

 

 

1,023

 

Total other expenses

 

 

2,713

 

 

2,956

 

 

8,097

 

 

8,304

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

 

512

 

 

60

 

 

1,258

 

 

729

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expense (benefit)

 

 

101

 

 

(55)

 

 

194

 

 

23

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INCOME

 

$

411

 

$

115

 

$

1,064

 

$

706

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted earnings per share of common stock

 

$

0.15

 

$

0.04

 

$

0.38

 

$

0.25

 

 

See accompanying notes to unaudited consolidated financial statements.

-  4 -


 

GLEN BURNIE BANCORP AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(dollars in thousands)

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 30, 

 

September 30, 

 

 

    

2017

    

2016

    

2017

    

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

411

 

$

115

 

$

1,064

 

$

706

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss), net of tax

 

 

  

 

 

  

 

 

  

 

 

  

 

Net unrealized gains on securities available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized (loss) gain on securities during the period

 

 

(67)

 

 

(304)

 

 

482

 

 

793

 

Reclassification adjustment for gain on sales of securities included in net income

 

 

 —

 

 

 —

 

 

(1)

 

 

(1)

 

Total other comprehensive  (loss) income

 

 

(67)

 

 

(304)

 

 

481

 

 

792

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income (loss)

 

$

344

 

$

(189)

 

$

1,545

 

$

1,498

 

 

See accompanying notes to unaudited consolidated financial statements.

-  5 -


 

GLEN BURNIE BANCORP AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY

For the Nine Months Ended September 30, 2017 and 2016 (unaudited)

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

Additional

 

 

 

Comprehensive

 

 

 

 

Common

 

Paid-in

 

Retained

 

(Loss)

 

 

 

 

Stock

 

Capital

 

Earnings

 

Income

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances, December 31, 2015

 

$

2,773

 

$

9,986

 

$

21,718

 

$

(301)

 

$

34,176

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

 —

 

 

 —

 

 

706

 

 

 —

 

 

706

Cash dividends, $.30 per share

 

 

 —

 

 

 —

 

 

(833)

 

 

 —

 

 

(833)

Dividends reinvested under dividend reinvestment plan

 

 

10

 

 

111

 

 

 —

 

 

 —

 

 

121

Other comprehensive income, net of tax

 

 

 —

 

 

 —

 

 

 —

 

 

791

 

 

791

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, September 30, 2016

 

$

2,783

 

$

10,097

 

$

21,591

 

$

490

 

$

34,961

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

Additional

 

 

 

Comprehensive

 

 

 

 

Common

 

Paid-in

 

Retained

 

(Loss)

 

 

 

 

Stock

 

Capital

 

Earnings

 

Income

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances, December 31, 2016

 

$

2,787

 

$

10,130

 

$

21,708

 

$

(810)

 

$

33,815

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

 —

 

 

 —

 

 

1,064

 

 

 —

 

 

1,064

Cash dividends, $.30 per share

 

 

 —

 

 

 —

 

 

(837)

 

 

 —

 

 

(837)

Dividends reinvested under dividend reinvestment plan

 

 

10

 

 

103

 

 

 —

 

 

 —

 

 

113

Other comprehensive income, net of tax

 

 

 —

 

 

 —

 

 

 —

 

 

481

 

 

481

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, September 30, 2017

 

$

2,797

 

$

10,233

 

$

21,935

 

$

(329)

 

$

34,636

 

 

See accompanying notes to unaudited consolidated financial statements.

-  6 -


 

GLEN BURNIE BANCORP AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(dollars in thousands)

(unaudited)

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 

 

 

    

2017

    

2016

 

Cash flows from operating activities:

 

 

  

 

 

  

 

Net income

 

$

1,064

 

$

706

 

Adjustments to reconcile net income to net cash provided by operating activities

 

 

  

 

 

  

 

Depreciation, amortization, and accretion

 

 

793

 

 

902

 

Provision for credit losses

 

 

243

 

 

233

 

Gains on disposals of assets, net

 

 

(1)

 

 

(2)

 

Provision on losses of other real estate owned

 

 

 —

 

 

36

 

Income on investment in life insurance

 

 

(151)

 

 

(161)

 

Changes in assets and liabilities:

 

 

  

 

 

  

 

Decrease in ground rents

 

 

 7

 

 

 —

 

(Increase) decrease in accrued interest receivable

 

 

(6)

 

 

21

 

Decrease  in other assets

 

 

955

 

 

82

 

(Decrease) increase  in accrued interest payable

 

 

74

 

 

(5)

 

  Increase (decrease) in other liabilities

 

 

(311)

 

 

313

 

 

 

 

 

 

 

 

 

Net cash provided by operating activities

 

 

2,667

 

 

2,125

 

 

 

 

 

 

 

 

 

Cash flows from investing activities:

 

 

  

 

 

  

 

Maturities  and principal paydowns of available for sale mortgage-backed securities

 

 

9,603

 

 

13,524

 

Proceeds from sales of available for sale debt securities

 

 

3,010

 

 

3,767

 

Purchases of available for sale mortgage-backed securities

 

 

 —

 

 

(8,187)

 

Purchases of other available for sale investment securities

 

 

(7,868)

 

 

(8,150)

 

Sale of FHLB stock

 

 

 2

 

 

 3

 

(Increase) decrease in loans, net

 

 

(6,509)

 

 

1,498

 

Proceeds from sales of other real estate

 

 

 —

 

 

166

 

Purchases of premises and equipment

 

 

(165)

 

 

(207)

 

 

 

 

 

 

 

 

 

Net cash provided (used) by investing activities

 

 

(1,927)

 

 

2,414

 

 

 

 

 

 

 

 

 

Cash flows from financing activities:

 

 

  

 

 

  

 

Increase in noninterest-bearing deposits, NOW accounts, money market accounts, and savings accounts, net

 

 

8,022

 

 

9,396

 

Decrease in time deposits, net

 

 

(7,163)

 

 

(8,918)

 

Increase in short term borrowings

 

 

10,000

 

 

 —

 

Decrease in long term borrowings

 

 

(10,000)

 

 

 —

 

Cash dividends paid

 

 

(837)

 

 

(833)

 

Common stock dividends reinvested

 

 

113

 

 

121

 

 

 

 

 

 

 

 

 

Net cash (used) provided  by financing activities

 

 

135

 

 

(234)

 

 

 

 

 

 

 

 

 

Increase  in cash and cash equivalents

 

 

875

 

 

4,305

 

 

 

 

 

 

 

 

 

Cash and cash equivalents, beginning of year

 

 

10,622

 

 

12,371

 

 

 

 

 

 

 

 

 

Cash and cash equivalents, end of year

 

$

11,497

 

$

16,676

 

Supplementary Cash Flow Information:

 

 

  

 

 

  

 

Interest paid on deposits and borrowings

 

$

499

 

$  

526

 

Income taxes paid

 

 

73

 

 

80

 

See accompanying notes to unaudited consolidated financial statements.

 

-  7 -


 

GLEN BURNIE BANCORP AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

NOTE 1 – ORGANIZATIONAL

Nature of Business. Glen Burnie Bancorp is a bank holding company organized in 1990 under the laws of the State of Maryland. Glen Burnie Bancorp owns all the outstanding shares of capital stock of The Bank of Glen Burnie, a commercial bank organized in 1949 under the laws of the State of Maryland, serving northern Anne Arundel County and surrounding areas from its main office and branch in Glen Burnie, Maryland, and branch offices in Odenton, Riviera Beach, Crownsville, Severn (two locations), Linthicum and Severna Park, Maryland. The Bank is engaged in the commercial and retail banking business as authorized by the banking statues of the State of Maryland, including the acceptance of demand and time deposits, and the origination of loans to individuals, associations, partnerships and corporations. The Bank’s real estate financing consists of residential first and second mortgage loans, home equity lines of credit and commercial mortgage loans. Commercial lending consists of both secured and unsecured loans. The Bank also originates automobile loans through arrangements with local automobile dealers.

NOTE 2 – BASIS OF PRESENTATION

The consolidated financial statements include the accounts of Glen Burnie Bancorp and the Bank.  All significant intercompany balances and transactions have been eliminated in consolidation.

In management’s opinion, the accompanying unaudited consolidated financial statements, which have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim period reporting, reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of the financial position at September 30, 2017 and December 31, 2016, the results of operations for the three- and nine-month periods ended September 30, 2017 and 2016, and the statements of cash flows for the nine-month periods ended September 30, 2017 and 2016.  The operating results of the three-month and nine-month periods ended September 30, 2017 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2017 or any future interim period.  The condensed consolidated balance sheet at December 31, 2016 has been derived from the audited financial statements included in the Company’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission (the “SEC”) on March 29, 2017.  The unaudited consolidated financial statements for September 30, 2017 and 2016, the condensed consolidated balance sheet at December 31, 2016, and accompanying notes should be read in conjunction with the Company’s audited consolidated financial statements and the accompanying notes thereto that are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.

 

Reclassifications

Certain items in the unaudited 2016 consolidated financial statements have been reclassified to conform to the 2017 classifications.  The reclassifications had no effect on previously reported results of operations or retained earnings.

 

Use of Estimates

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ materially from those estimates.  Material estimates that are particularly susceptible to significant change in the near term include the determination of the allowance for loan losses (the “allowance”); the fair value of financial instruments, such as loans and investment securities; benefit plan obligations and expenses; and the valuation of deferred tax assets and real estate acquired through foreclosure; and the estimate of expected cash flows for loans acquired with deteriorated credit quality.

 

-  8 -


 

NOTE 3 – EARNINGS PER SHARE

Basic earnings per share of common stock are computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per share are calculated by including the average dilutive common stock equivalents outstanding during the periods. Dilutive common equivalent shares consist of stock options, calculated using the treasury stock method.

Diluted earnings per share calculations were not required for the three- and nine-month periods ended September 30, 2017 and 2016, since there were no options outstanding.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 30, 

 

September 30, 

 

 

    

2017

    

2016

    

2017

    

2016

    

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

411,000

 

$

115,000

 

$

1,064,000

 

$

706,000

 

Weighted average common shares outstanding

 

 

2,796,099

 

 

2,782,923

 

 

2,792,544

 

 

2,781,371

 

Basic net income per share

 

$

0.15

 

$

0.04

 

$

0.38

 

$

0.25

 

 

 

NOTE 4 – LOANS AND ASSET QUALITY

Asset Quality. The following tables set forth the amount of the Bank’s current, past due, and non-accrual loans by categories of loans and restructured loans, at the dates indicated.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At September 30, 2017

 

 

 

 

 

 

 

90 Days or

 

 

 

 

 

 

(dollars in thousands)

 

 

 

 

30-89 Days

 

More and

 

 

 

 

 

 

 

    

Current

    

Past Due

    

Still Accruing

    

Nonaccrual

    

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

3,989

 

$

 8

 

$

 —

 

$

48

 

$

4,045

Commercial real estate

 

 

68,267

 

 

 —

 

 

 —

 

 

499