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Note 5 - Allowance for Loan Losses

6 Months Ended

Jun. 30, 2014

Disclosure Text Block Supplement [Abstract]

Allowance for Credit Losses [Text Block]

NOTE 5: 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, 2014.

(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, 2013	$	2,355		$	434	$	7,805		$	892		$	273		$	23,093		$	34,852
Provision charged to operations		30			—		—			—			—			6,745			6,775
Loans charged off		(79	)		—		(174	)		(47	)		(147	)		(8,098	)		(8,545	)
Recoveries of loans previously charged off		24			—		47			—			170			1,935			2,176
Balance at June 30, 2014	$	2,330		$	434	$	7,678		$	845		$	296		$	23,675		$	35,258

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, as of June 30, 2014, the total allowance for loan losses, the allowance by impairment methodology (individually evaluated for impairment or collectively evaluated for impairment or PCI loans), the total loans, and loans by impairment methodology (individually evaluated for impairment, collectively evaluated for impairment, or PCI loans).

(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, 2014	$	2,330	$	434	$	7,678	$	845	$	296	$	23,675	$	35,258
Ending balance: individually evaluated for impairment	$	430	$	—	$	545	$	1	$	14	$	—	$	990
Ending balance: collectively evaluated for impairment	$	1,900	$	434	$	7,133	$	844	$	282	$	23,675	$	34,268
Ending balance: PCI loans	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Loans:
Balance at June 30, 2014	$	180,514	$	7,580	$	295,545	$	50,577	$	8,239	$	283,973	$	826,428
Ending balance: individually evaluated for impairment	$	2,348	$	—	$	3,200	$	30	$	93	$	—	$	5,671
Ending balance: collectively evaluated for impairment	$	176,088	$	7,179	$	267,726	$	50,213	$	8,122	$	283,973	$	793,301
Ending balance: PCI loans	$	2,078	$	401	$	24,619	$	334	$	24	$	—	$	27,456

The following table presents, as of December 31, 2013, the total allowance for loan losses, the allowance by impairment methodology (individually evaluated for impairment, collectively evaluated for impairment or PCI loans), the total loans and loans by impairment methodology (individually evaluated for impairment, collectively evaluated for impairment or PCI loans).

(Dollars in thousands)	Real Estate Residential Mortgage		Real Estate Construction		Commercial, Financial and Agricultural		Equity Lines		Consumer		Consumer Finance		Total
Allowance for loan losses:
Ending balance	$	2,355	$	434	$	7,805	$	892	$	273	$	23,093	$	34,852
Ending balance: individually evaluated for impairment	$	390	$	—	$	639	$	—	$	14	$	—	$	1,043
Ending balance: collectively evaluated for impairment	$	1,965	$	434	$	7,166	$	892	$	259	$	23,093	$	33,809
Ending balance: PCI loans	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Loans:
Ending balance	$	188,455	$	5,810	$	288,593	$	50,795	$	9,007	$	277,724	$	820,384
Ending balance: individually evaluated for impairment	$	2,601	$	—	$	3,437	$	131	$	93	$	—	$	6,262
Ending balance: collectively evaluated for impairment	$	183,160	$	5,039	$	256,554	$	50,332	$	8,793	$	277,724	$	781,602
Ending balance: PCI loans	$	2,694	$	771	$	28,602	$	332	$	121	$	—	$	32,520

Loans by credit quality indicators as of June 30, 2014 were as follows:

(Dollars in thousands)

Pass

Special

Mention

Substandard

Nonaccrual

Total¹

Real estate – residential mortgage

172,699

1,975

3,687

2,153

180,514

Real estate – construction:

Construction lending

1,759

—

2,649

—

4,408

Consumer lot lending

3,085

—

3,172

Commercial, financial and agricultural:

Commercial real estate lending

166,679

4,403

13,434

1,702

186,218

Land acquisition and development lending

28,608

1,341

3,697

—

33,646

Builder line lending

16,390

1,174

568

—

18,132

Commercial business lending

43,174

1,231

12,771

374

57,550

Equity lines

48,644

775

949

209

50,577

Consumer

7,889

116

232

8,239

488,927

10,988

37,871

4,670

542,456

¹ At June 30, 2014, the Corporation did not have any loans classified as Doubtful or Loss.

Included in the table above are loans purchased in connection with the acquisition of CVBK of $102.44 million pass rated, $2.82 million special mention, $14.14 million substandard and $641,000 substandard nonaccrual.

(Dollars in thousands)

Performing

Non-Performing

Total

Consumer finance

283,327

646

283,973

Loans by credit quality indicators as of December 31, 2013 were as follows:

(Dollars in thousands)	Pass		Special Mention		Substandard		Substandard Nonaccrual		Total¹
Real estate – residential mortgage	$	180,670	$	2,209	$	3,580	$	1,996	$	188,455
Real estate – construction:
Construction lending		1,068		11		2,649		—		3,728
Consumer lot lending		1,831		105		146		—		2,082
Commercial, financial and agricultural:
Commercial real estate lending		152,017		2,934		11,685		1,486		168,122
Land acquisition and development lending		18,236		1,601		5,803		—		25,640
Builder line lending		11,608		1,278		527		13		13,426
Commercial business lending		61,715		2,758		16,558		374		81,405
Equity lines		48,603		1,003		898		291		50,795
Consumer		8,616		2		158		231		9,007
	$	484,364	$	11,901	$	42,004	$	4,391	$	542,660

¹ At December 31, 2013, the Corporation did not have any loans classified as Doubtful or Loss.

Included in the table above are loans purchased in connection with the acquisition of CVBK of $115.27 million pass rated, $3.30 million special mention, $17.77 million substandard and $652,000 substandard nonaccrual.

(Dollars in thousands)		Performing				Non-Performing				Total
Consumer finance		$	276,537			$	1,187			$	277,724