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Note 4 - Allowance for Loan Losses

6 Months Ended

Jun. 30, 2013

Disclosure Text Block Supplement [Abstract]

Allowance for Credit Losses [Text Block]

NOTE 4: Allowance for Loan Losses

The following table presents the changes in the allowance for loan losses by major classification during the six months ended June 30, 2013.

(Dollars in thousands)	Real Estate Residential Mortgage			Real Estate Construction		Commercial, Financial and Agricultural			Equity Lines			Consumer			Consumer Finance			Total
Allowance for loan losses:
Balance at December 31, 2012	$	2,358		$	424	$	9,824		$	885		$	283		$	22,133		$	35,907
Provision charged to operations		522			50		328			11			149			5,240			6,300
Loans charged off		(475	)		—		(2,270	)		(37	)		(228	)		(6,361	)		(9,371	)
Recoveries of loans previously charged off		86			—		60			27			79			1,681			1,933
Balance at June 30, 2013	$	2,491		$	474	$	7,942		$	886		$	283		$	22,693		$	34,769

The following table presents the changes in the allowance for loan losses by major classification during the six months ended June 30, 2012.

(Dollars in thousands)	Real Estate Residential Mortgage			Real Estate Construction			Commercial, Financial and Agricultural			Equity Lines			Consumer			Consumer Finance			Total
Allowance for loan losses:
Balance at December 31, 2011	$	2,379		$	480		$	10,040		$	912		$	319		$	19,547		$	33,677
Provision charged to operations		576			(94	)		917			130			76			3,980			5,585
Loans charged off		(638	)		—			(402	)		(121	)		(171	)		(4,102	)		(5,434	)
Recoveries of loans previously charged off		23			—			36			—			99			1,471			1,629
Balance at June 30, 2012	$	2,340		$	386		$	10,591		$	921		$	323		$	20,896		$	35,457

The following table presents, as of June 30, 2013, the total allowance for loan losses, the allowance by impairment methodology (individually evaluated for impairment or collectively evaluated for impairment), total loans, and loans by impairment methodology (individually evaluated for impairment or collectively evaluated for impairment).

(Dollars in thousands)	Real Estate Residential Mortgage		Real Estate Construction		Commercial, Financial and Agricultural		Equity Lines		Consumer		Consumer Finance		Total
Allowance for loan losses:
Balance at June 30, 2013	$	2,491	$	474	$	7,942	$	886	$	283	$	22,693	$	34,769
Ending balance: individually evaluated for impairment	$	443	$	—	$	756	$	—	$	48	$	—	$	1,247
Ending balance: collectively evaluated for impairment	$	2,048	$	474	$	7,186	$	886	$	235	$	22,693	$	33,522
Loans:
Balance at June 30, 2013	$	151,371	$	5,330	$	193,414	$	33,104	$	5,251	$	284,856	$	673,326
Ending balance: individually evaluated for impairment	$	2,236	$	—	$	4,670	$	—	$	323	$	—	$	7,229
Ending balance: collectively evaluated for impairment	$	149,135	$	5,330	$	188,744	$	33,104	$	4,928	$	284,856	$	666,097

The following table presents, as of December 31, 2012, the total allowance for loan losses, the allowance by impairment methodology (individually evaluated for impairment or collectively evaluated for impairment), total loans, and loans by impairment methodology (individually evaluated for impairment or collectively evaluated for impairment).

(Dollars in thousands)	Real Estate Residential Mortgage		Real Estate Construction		Commercial, Financial and Agricultural		Equity Lines		Consumer		Consumer Finance		Total
Allowance for loan losses:
Balance at December 31, 2012	$	2,358	$	424	$	9,824	$	885	$	283	$	22,133	$	35,907
Ending balance: individually evaluated for impairment	$	433	$	—	$	3,319	$	—	$	49	$	—	$	3,801
Ending balance: collectively evaluated for impairment	$	1,925	$	424	$	6,505	$	885	$	234	$	22,133	$	32,106
Loans:
Balance at December 31, 2012	$	149,257	$	5,062	$	205,052	$	33,324	$	5,309	$	278,186	$	676,190
Ending balance: individually evaluated for impairment	$	2,230	$	—	$	13,938	$	—	$	324	$	—	$	16,492
Ending balance: collectively evaluated for impairment	$	147,027	$	5,062	$	191,114	$	33,324	$	4,985	$	278,186	$	659,698

Loans by credit quality indicators as of June 30, 2013 were as follows:

(Dollars in thousands)

Pass

Special

Mention

Substandard

Nonaccrual

Total¹

Real estate – residential mortgage

146,091

1,441

1,703

2,136

151,371

Real estate – construction:

Construction lending

796

—

2,929

—

3,725

Consumer lot lending

1,605

—

1,605

Commercial, financial and agricultural:

Commercial real estate lending

113,991

1,033

8,099

3,550

126,673

Land acquisition and development lending

17,217

1,741

438

—

19,396

Builder line lending

10,166

1,449

585

12,214

Commercial business lending

24,930

197

9,302

702

35,131

Equity lines

31,071

1,116

706

211

33,104

Consumer

4,692

368

188

5,251

350,559

6,980

24,130

6,801

388,470

¹	At June 30, 2013, the Corporation did not have any loans classified as Doubtful or Loss.

(Dollars in thousands)

Performing

Non-Performing

Total

Consumer finance

284,176

680

284,856

Loans by credit quality indicators as of December 31, 2012 were as follows:

(Dollars in thousands)	Pass		Special Mention		Substandard		Substandard Nonaccrual		Total¹
Real estate – residential mortgage	$	143,947	$	1,374	$	2,131	$	1,805	$	149,257
Real estate – construction:
Construction lending		228		—		2,929		—		3,157
Consumer lot lending		1,905		—		—		—		1,905
Commercial, financial and agricultural:
Commercial real estate lending		102,472		2,776		10,973		3,426		119,647
Land acquisition and development lending		19,422		1,789		7,692		5,234		34,137
Builder line lending		13,469		1,926		538		15		15,948
Commercial business lending		32,330		187		2,044		759		35,320
Equity lines		31,199		1,327		767		31		33,324
Consumer		4,746		3		369		191		5,309
	$	349,718	$	9,382	$	27,443	$	11,461	$	398,004

¹	At December 31, 2012, the Corporation did not have any loans classified as Doubtful or Loss.

(Dollars in thousands)		Performing				Non-Performing				Total
Consumer finance		$	277,531			$	655			$	278,186