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Loans (Tables)
 3 Months Ended
Mar. 31, 2013
Loans [Abstract]  
Classification Of Loans By Class [Table Text Block]

 

 

 

 

 

 

 

(In thousands)

 

March 31, 2013

 

December 31, 2012

SBA loans held to maturity

 

$
56,868 

 

$
58,593 

SBA 504 loans

 

 
39,784 

 

 
41,438 

Commercial loans

 

 

 

 

 

 

Commercial other

 

 
27,787 

 

 
24,043 

Commercial real estate

 

 
270,097 

 

 
264,439 

Commercial real estate construction

 

 
12,765 

 

 
13,082 

Residential mortgage loans

 

 

 

 

 

 

Residential mortgages

 

 
129,570 

 

 
125,232 

Purchased residential mortgages

 

 
6,775 

 

 
6,862 

Consumer loans

 

 

 

 

 

 

Home equity

 

 
44,064 

 

 
45,152 

Consumer other

 

 
2,305 

 

 
1,258 

Total loans held for investment

 

$
590,015 

 

$
580,099 

SBA loans held for sale

 

 
6,556 

 

 
6,937 

Total loans

 

$
596,571 

 

$
587,036 

 

Loan Portfolio By Class According To Their Credit Quality Indicators [Table Text Block]

The tables below detail the Company’s loan portfolio by class according to their credit quality indicators discussed in the paragraphs above as of March 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2013

 

 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held to maturity

 

$
45,017 

 

$
3,833 

 

$
8,018 

 

$
56,868 

SBA 504 loans

 

 
28,401 

 

 
4,028 

 

 
7,355 

 

 
39,784 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
23,923 

 

 
1,713 

 

 
2,151 

 

 
27,787 

Commercial real estate

 

 
237,280 

 

 
28,487 

 

 
4,330 

 

 
270,097 

Commercial real estate construction

 

 
12,563 

 

 

 -

 

 
202 

 

 
12,765 

Total commercial loans

 

 
273,766 

 

 
30,200 

 

 
6,683 

 

 
310,649 

Total SBA, SBA 504 and commercial loans

 

$
347,184 

 

$
38,061 

 

$
22,056 

 

$
407,301 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 

 

 

$
126,745 

 

$
2,825 

 

$
129,570 

Purchased residential mortgages

 

 

 

 

 
5,046 

 

 
1,729 

 

 
6,775 

Total residential mortgage loans

 

 

 

 

 
131,791 

 

 
4,554 

 

 
136,345 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 
43,762 

 

 
302 

 

 
44,064 

Consumer other

 

 

 

 

 
2,305 

 

 

 -

 

 
2,305 

Total consumer loans

 

 

 

 

 
46,067 

 

 
302 

 

 
46,369 

Total residential mortgage and consumer loans

 

 

 

 

$
177,858 

 

$
4,856 

 

$
182,714 

 

The tables below detail the Company’s loan portfolio by class according to their credit quality indicators discussed in the paragraphs above as of December 31, 2012: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held to maturity

 

$
45,680 

 

$
4,376 

 

$
8,537 

 

$
58,593 

SBA 504 loans

 

 
28,726 

 

 
5,860 

 

 
6,852 

 

 
41,438 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
20,187 

 

 
1,669 

 

 
2,187 

 

 
24,043 

Commercial real estate

 

 
229,516 

 

 
30,733 

 

 
4,190 

 

 
264,439 

Commercial real estate construction

 

 
12,880 

 

 
202 

 

 

 -

 

 
13,082 

Total commercial loans

 

 
262,583 

 

 
32,604 

 

 
6,377 

 

 
301,564 

Total SBA, SBA 504 and commercial loans

 

$
336,989 

 

$
42,840 

 

$
21,766 

 

$
401,595 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 

 

 

$
122,711 

 

$
2,521 

 

$
125,232 

Purchased residential mortgages

 

 

 

 

 
3,872 

 

 
2,990 

 

 
6,862 

Total residential mortgage loans

 

 

 

 

 
126,583 

 

 
5,511 

 

 
132,094 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 
44,844 

 

 
308 

 

 
45,152 

Consumer other

 

 

 

 

 
1,249 

 

 
9 

 

 
1,258 

Total consumer loans

 

 

 

 

 
46,093 

 

 
317 

 

 
46,410 

Total residential mortgage and consumer loans

 

 

 

 

$
172,676 

 

$
5,828 

 

$
178,504 

 

Aging Analysis Of Past Due And Nonaccrual Loans By Loan Class [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2013

(In thousands)

 

30-59 days past due

 

60-89 days past due

 

90+ days and still accruing

 

Nonaccrual (1)

 

Total past due

 

Current

 

Total loans

SBA loans held to maturity

 

$
388 

 

$

 -

 

$
212 

 

$
4,441 

 

$
5,041 

 

$
51,827 

 

$
56,868 

SBA 504 loans

 

 
4,511 

 

 

 -

 

 
415 

 

 
1,235 

 

 
6,161 

 

 
33,623 

 

 
39,784 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
20 

 

 

 -

 

 

 -

 

 
1,091 

 

 
1,111 

 

 
26,676 

 

 
27,787 

Commercial real estate

 

 
651 

 

 
52 

 

 

 -

 

 
3,079 

 

 
3,782 

 

 
266,315 

 

 
270,097 

Commercial real estate construction

 

 

 -

 

 

 -

 

 

 -

 

 
202 

 

 
202 

 

 
12,563 

 

 
12,765 

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
2,132 

 

 

 -

 

 

 -

 

 
2,825 

 

 
4,957 

 

 
124,613 

 

 
129,570 

Purchased residential mortgages

 

 
71 

 

 
17 

 

 
4 

 

 
1,729 

 

 
1,821 

 

 
4,954 

 

 
6,775 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
318 

 

 
725 

 

 

 -

 

 
302 

 

 
1,345 

 

 
42,719 

 

 
44,064 

Consumer other

 

 
1 

 

 

 -

 

 
1 

 

 

 -

 

 
2 

 

 
2,303 

 

 
2,305 

Total loans held for investment

 

$
8,092 

 

$
794 

 

$
632 

 

$
14,904 

 

$
24,422 

 

$
565,593 

 

$
590,015 

SBA loans held for sale

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
6,556 

 

 
6,556 

Total loans

 

$
8,092 

 

$
794 

 

$
632 

 

$
14,904 

 

$
24,422 

 

$
572,149 

 

$
596,571 

 

(1)

At March 31, 2013, nonaccrual loans included $1.1 million of troubled debt restructurings ("TDRs") and $1.9 million of loans guaranteed by the SBA.  The remaining $15.1 million of TDRs are in accrual status because they are performing in accordance with their restructured terms. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

(In thousands)

 

30-59 days past due

 

60-89 days past due

 

90+ days and still accruing

 

Nonaccrual (1)

 

Total past due

 

Current

 

Total loans

SBA loans held to maturity

 

$
1,912 

 

$
296 

 

$

 -

 

$
4,633 

 

$
6,841 

 

$
51,752 

 

$
58,593 

SBA 504 loans

 

 
5,037 

 

 

 -

 

 

 -

 

 
2,562 

 

 
7,599 

 

 
33,839 

 

 
41,438 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 -

 

 

 -

 

 
109 

 

 
1,122 

 

 
1,231 

 

 
22,812 

 

 
24,043 

Commercial real estate

 

 
3,763 

 

 

 -

 

 

 -

 

 
3,323 

 

 
7,086 

 

 
257,353 

 

 
264,439 

Commercial real estate construction

 

 

 -

 

 
202 

 

 

 -

 

 

 -

 

 
202 

 

 
12,880 

 

 
13,082 

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
2,651 

 

 
1,878 

 

 

 -

 

 
2,521 

 

 
7,050 

 

 
118,182 

 

 
125,232 

Purchased residential mortgages

 

 
134 

 

 
78 

 

 

 -

 

 
2,990 

 

 
3,202 

 

 
3,660 

 

 
6,862 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
833 

 

 

 -

 

 

 -

 

 
308 

 

 
1,141 

 

 
44,011 

 

 
45,152 

Consumer other

 

 

 -

 

 

 -

 

 

 -

 

 
9 

 

 
9 

 

 
1,249 

 

 
1,258 

Total loans held for investment

 

$
14,330 

 

$
2,454 

 

$
109 

 

$
17,468 

 

$
34,361 

 

$
545,738 

 

$
580,099 

SBA loans held for sale

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
6,937 

 

 
6,937 

Total loans

 

$
14,330 

 

$
2,454 

 

$
109 

 

$
17,468 

 

$
34,361 

 

$
552,675 

 

$
587,036 

 

At December 31, 2012, nonaccrual loans included $1.1 million of TDRs and $1.8 million of loans guaranteed by the SBA.  The remaining $13.6 million of TDRs are in accrual status because they are performing in accordance with their restructured terms.

Impaired Loans With The Associated Allowance Amount [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2013

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

$
1,009 

 

$
709 

 

$

 -

SBA 504 loans

 

 
4,654 

 

 
4,404 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
2,026 

 

 
2,027 

 

 

 -

Commercial real estate

 

 
5,317 

 

 
5,142 

 

 

 -

Total commercial loans

 

 
7,343 

 

 
7,169 

 

 

 -

Total impaired loans with no related allowance

 

 
13,006 

 

 
12,282 

 

 

 -

 

 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

 
3,635 

 

 
2,789 

 

 
1,050 

SBA 504 loans

 

 
1,297 

 

 
1,097 

 

 
206 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
26 

 

 
13 

 

 
13 

Commercial real estate

 

 
6,952 

 

 
6,868 

 

 
328 

Commercial real estate construction

 

 
202 

 

 
202 

 

 
82 

Total commercial loans

 

 
7,180 

 

 
7,083 

 

 
423 

Total impaired loans with a related allowance

 

 
12,112 

 

 
10,969 

 

 
1,679 

 

 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

 
4,644 

 

 
3,498 

 

 
1,050 

SBA 504 loans

 

 
5,951 

 

 
5,501 

 

 
206 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
2,052 

 

 
2,040 

 

 
13 

Commercial real estate

 

 
12,269 

 

 
12,010 

 

 
328 

Commercial real estate construction

 

 
202 

 

 
202 

 

 
82 

Total commercial loans

 

 
14,523 

 

 
14,252 

 

 
423 

Total individually evaluated impaired loans

 

$
25,118 

 

$
23,251 

 

$
1,679 

 

(1)

Balances are reduced by amount guaranteed by the SBA of $1.9 million at March 31, 2013.

 

The following table provides detail on the Company’s impaired loans with the associated allowance amount, if applicable, as of December 31, 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

$
1,352 

 

$
866 

 

$

 -

SBA 504 loans

 

 
5,812 

 

 
5,555 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
2,032 

 

 
2,033 

 

 

 -

Commercial real estate

 

 
5,220 

 

 
4,752 

 

 

 -

Total commercial loans

 

 
7,252 

 

 
6,785 

 

 

 -

Total impaired loans with no related allowance

 

 
14,416 

 

 
13,206 

 

 

 -

 

 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

 
3,355 

 

 
2,846 

 

 
1,159 

SBA 504 loans

 

 
1,297 

 

 
1,297 

 

 
217 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
126 

 

 
38 

 

 
38 

Commercial real estate

 

 
6,014 

 

 
5,979 

 

 
587 

Total commercial loans

 

 
6,140 

 

 
6,017 

 

 
625 

Total impaired loans with a related allowance

 

 
10,792 

 

 
10,160 

 

 
2,001 

 

 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held to maturity (1)

 

 
4,707 

 

 
3,712 

 

 
1,159 

SBA 504 loans

 

 
7,109 

 

 
6,852 

 

 
217 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
2,158 

 

 
2,071 

 

 
38 

Commercial real estate

 

 
11,234 

 

 
10,731 

 

 
587 

Total commercial loans

 

 
13,392 

 

 
12,802 

 

 
625 

Total individually evaluated impaired loans

 

$
25,208 

 

$
23,366 

 

$
2,001 

 

Balances are reduced by amount guaranteed by the SBA of $1.8 million at December 31, 2012.

Average Recorded Investments In Impaired Loans And The Related Amount Of Interest Recognized [TableText Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended March 31,

 

 

2013

 

2012

(In thousands)

 

Average recorded investment

 

Interest income recognized on impaired loans

 

Average recorded investment

 

Interest income recognized on impaired loans

SBA loans held to maturity (1)

 

$
3,542 

 

$
57 

 

$
5,754 

 

$
56 

SBA 504 loans

 

 
7,485 

 

 
88 

 

 
6,463 

 

 
70 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
2,042 

 

 
61 

 

 
2,769 

 

 
21 

Commercial real estate

 

 
11,026 

 

 
83 

 

 
18,360 

 

 
130 

Commercial real estate construction

 

 
135 

 

 

 -

 

 
533 

 

 

 -

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
2,757 

 

 

 -

 

 
1,650 

 

 

 -

Residential construction

 

 

 -

 

 

 -

 

 
2,169 

 

 

 -

Purchased residential mortgages

 

 
2,149 

 

 

 -

 

 
2,006 

 

 

 -

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
338 

 

 
8 

 

 
285 

 

 

 -

Consumer other

 

 
3 

 

 

 -

 

 
11 

 

 

 -

Total

 

$
29,477 

 

$
297 

 

$
40,000 

 

$
277 

 

(1)

Balances are reduced by the average amount guaranteed by the Small Business Administration of $1.7 million and $639 thousand for the three months ended March 31, 2013 and 2012, respectively.
Troubled Debt Restructurings Loans Modified [Table Text Block]

The following table details loans modified during the three months ended March 31, 2013 and 2012, including the number of modifications, the recorded investment at the time of the modification and the quarter-to-date impact to interest income as a result of the modification.  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended March 31,

 

 

 

2013

 

2012

 

(In thousands, except number of contracts)

 

Number of contracts

 

Recorded investment at time of modification

 

Impact of interest rate change on income

 

Number of contracts

 

Recorded investment at time of modification

 

Impact of interest rate change on income

 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 -

 

$

 -

 

$

 -

 

 
3 

 

$
1,291 

 

$

 -

 

Commercial real estate

 

 
1 

 

 
2,684 

 

 

 -

 

 
3 

 

 
1,856 

 

 

 -

 

Total

 

 
1 

 

$
2,684 

 

$

 -

 

 
6 

 

$
3,147 

 

$

 -

 

 

 

There were no loans modified as a TDR within the previous 12 months where a concession was made and the loan subsequently defaulted at some point during the three months ended March 31, 2013 or 2012.  In this case, subsequent default is defined as 90 days past due or transferred to nonaccrual status. 

 

Troubled Debt Restructurings Types Of Modifications [TableText Block]

The following tables show the types of modifications done during the three months ended March 31, 2013 and 2012, with the respective loan balances as of those period ends:

 

 

 

 

 

 

 

 

 

 

 

For the three months ended March 31, 2013

(In thousands)

 

Commercial real estate

 

Total

Type of modification:

 

 

 

 

 

 

Interest only with reduced interest rate

 

$
2,684 

 

$
2,684 

Total TDRs

 

$
2,684 

 

$
2,684 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended March 31, 2012

(In thousands)

 

Commercial other

 

Commercial real estate

 

Total

Type of modification:

 

 

 

 

 

 

 

 

 

Interest only

 

$
1,291 

 

$
1,856 

 

$
3,147 

Total TDRs

 

$
1,291 

 

$
1,856 

 

$
3,147