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

 

 

 

 

 

 

 

(In thousands)

 

December 31, 2013

 

December 31, 2012

SBA loans held for investment

 

$
48,918 

 

$
58,593 

SBA 504 loans

 

 
31,564 

 

 
41,438 

Commercial loans

 

 

 

 

 

 

Commercial other

 

 
37,611 

 

 
24,043 

Commercial real estate

 

 
317,471 

 

 
264,439 

Commercial real estate construction

 

 
8,258 

 

 
13,082 

Residential mortgage loans

 

 

 

 

 

 

Residential mortgages

 

 
175,984 

 

 
125,232 

Purchased residential mortgages

 

 
6,083 

 

 
6,862 

Consumer loans

 

 

 

 

 

 

Home equity

 

 
43,704 

 

 
45,152 

Consumer other

 

 
2,435 

 

 
1,258 

Total loans held for investment

 

$
672,028 

 

$
580,099 

SBA loans held for sale

 

 
6,673 

 

 
6,937 

Total loans

 

$
678,701 

 

$
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 December 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held for investment

 

$
43,778 

 

$
2,035 

 

$
3,105 

 

$
48,918 

SBA 504 loans

 

 
20,641 

 

 
9,595 

 

 
1,328 

 

 
31,564 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
34,946 

 

 
1,499 

 

 
1,166 

 

 
37,611 

Commercial real estate

 

 
289,220 

 

 
21,137 

 

 
7,114 

 

 
317,471 

Commercial real estate construction

 

 
8,081 

 

 

 -

 

 
177 

 

 
8,258 

Total commercial loans

 

 
332,247 

 

 
22,636 

 

 
8,457 

 

 
363,340 

Total SBA, SBA 504 and commercial loans

 

$
396,666 

 

$
34,266 

 

$
12,890 

 

$
443,822 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 

 

 

$
173,085 

 

$
2,899 

 

$
175,984 

Purchased residential mortgages

 

 

 

 

 
3,255 

 

 
2,828 

 

 
6,083 

Total residential mortgage loans

 

 

 

 

 
176,340 

 

 
5,727 

 

 
182,067 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 
42,029 

 

 
1,675 

 

 
43,704 

Consumer other

 

 

 

 

 
2,430 

 

 
5 

 

 
2,435 

Total consumer loans

 

 

 

 

 
44,459 

 

 
1,680 

 

 
46,139 

Total residential mortgage and consumer loans

 

 

 

 

$
220,799 

 

$
7,407 

 

$
228,206 

 

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 for investment

 

$
51,754 

 

$
2,328 

 

$
4,511 

 

$
58,593 

SBA 504 loans

 

 
28,726 

 

 
5,860 

 

 
6,852 

 

 
41,438 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
20,337 

 

 
1,519 

 

 
2,187 

 

 
24,043 

Commercial real estate

 

 
229,516 

 

 
30,334 

 

 
4,589 

 

 
264,439 

Commercial real estate construction

 

 
12,880 

 

 
202 

 

 

 -

 

 
13,082 

Total commercial loans

 

 
262,733 

 

 
32,055 

 

 
6,776 

 

 
301,564 

Total SBA, SBA 504 and commercial loans

 

$
343,213 

 

$
40,243 

 

$
18,139 

 

$
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]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 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 for investment

 

$
4,314 

 

$
264 

 

$

 -

 

$
2,746 

 

$
7,324 

 

$
41,594 

 

$
48,918 

SBA 504 loans

 

 

 -

 

 

 -

 

 

 -

 

 
1,101 

 

 
1,101 

 

 
30,463 

 

 
31,564 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
123 

 

 

 -

 

 

 -

 

 
67 

 

 
190 

 

 
37,421 

 

 
37,611 

Commercial real estate

 

 
347 

 

 
190 

 

 
14 

 

 
3,785 

 

 
4,336 

 

 
313,135 

 

 
317,471 

Commercial real estate construction

 

 

 -

 

 

 -

 

 

 -

 

 
177 

 

 
177 

 

 
8,081 

 

 
8,258 

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
2,514 

 

 

 -

 

 

 -

 

 
2,899 

 

 
5,413 

 

 
170,571 

 

 
175,984 

Purchased residential mortgages

 

 
536 

 

 

 -

 

 
5 

 

 
2,828 

 

 
3,369 

 

 
2,714 

 

 
6,083 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
142 

 

 
69 

 

 

 -

 

 
1,675 

 

 
1,886 

 

 
41,818 

 

 
43,704 

Consumer other

 

 
9 

 

 
1 

 

 

 -

 

 
5 

 

 
15 

 

 
2,420 

 

 
2,435 

Total loans held for investment

 

$
7,985 

 

$
524 

 

$
19 

 

$
15,283 

 

$
23,811 

 

$
648,217 

 

$
672,028 

SBA loans held for sale

 

 
65 

 

 

 -

 

 

 -

 

 

 -

 

 
65 

 

 
6,608 

 

 
6,673 

Total loans

 

$
8,050 

 

$
524 

 

$
19 

 

$
15,283 

 

$
23,876 

 

$
654,825 

 

$
678,701 

(1)

At December 31, 2013, nonaccrual loans included $467 thousand of TDRs and $540 thousand of loans guaranteed by the SBA.  The remaining $7.5 million of TDRs are in accrual status because they are performing in accordance with their restructured terms, and have been for at least six months.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 for investment

 

$
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 

(1)

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, and have been for at least six months.
Impaired Loans With The Associated Allowance Amount [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

$
1,123 

 

$
835 

 

$

 -

SBA 504 loans

 

 
2,251 

 

 
2,251 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
56 

 

 
55 

 

 

 -

Commercial real estate

 

 
6,116 

 

 
5,969 

 

 

 -

Total commercial loans

 

 
6,172 

 

 
6,024 

 

 

 -

Total impaired loans with no related allowance

 

 
9,546 

 

 
9,110 

 

 

 -

 

 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 
2,282 

 

 
1,905 

 

 
831 

SBA 504 loans

 

 
1,277 

 

 
677 

 

 
29 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
24 

 

 
12 

 

 
12 

Commercial real estate

 

 
3,557 

 

 
2,907 

 

 
230 

Commercial real estate construction

 

 
202 

 

 
177 

 

 
36 

Total commercial loans

 

 
3,783 

 

 
3,096 

 

 
278 

Total impaired loans with a related allowance

 

 
7,342 

 

 
5,678 

 

 
1,138 

 

 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 
3,405 

 

 
2,740 

 

 
831 

SBA 504 loans

 

 
3,528 

 

 
2,928 

 

 
29 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
80 

 

 
67 

 

 
12 

Commercial real estate

 

 
9,673 

 

 
8,876 

 

 
230 

Commercial real estate construction

 

 
202 

 

 
177 

 

 
36 

Total commercial loans

 

 
9,955 

 

 
9,120 

 

 
278 

Total individually evaluated impaired loans

 

$
16,888 

 

$
14,788 

 

$
1,138 

(1)

Balances are reduced by amount guaranteed by the SBA of $540 thousand at December 31, 2013.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (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 for investment (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 for investment (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 years ended December 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 for investment (1)

 

$
3,244 

 

$
197 

 

$
4,161 

 

$
212 

SBA 504 loans

 

 
5,066 

 

 
173 

 

 
6,184 

 

 
278 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
1,461 

 

 
100 

 

 
3,201 

 

 
53 

Commercial real estate

 

 
9,751 

 

 
324 

 

 
17,909 

 

 
462 

Commercial real estate construction

 

 
171 

 

 

 -

 

 
133 

 

 

 -

Residential mortgage loans

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgages

 

 
2,757 

 

 

 -

 

 
2,070 

 

 

 -

Residential construction

 

 

 -

 

 

 -

 

 
904 

 

 

 -

Purchased residential mortgages

 

 
1,927 

 

 

 -

 

 
2,655 

 

 

 -

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
970 

 

 
16 

 

 
292 

 

 

 -

Consumer other

 

 
1 

 

 

 -

 

 
8 

 

 

 -

Total

 

$
25,348 

 

$
810 

 

$
37,517 

 

$
1,005 

(1)

Balances are reduced by the average amount guaranteed by the SBA of $953 thousand and $667 thousand for years ended December 31, 2013 and 2012, respectively.

 

Troubled Debt Restructurings Loans Modified [Table Text Block]

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the years ended December 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

SBA loans held for investment

 

 
1 

 

$
65 

 

$

 -

 

 

 -

 

$

 -

 

$

 -

Commercial real estate

 

 
1 

 

 
2,684 

 

 
50 

 

 
3 

 

 
1,856 

 

 
11 

Total

 

 
2 

 

$
2,749 

 

$
50 

 

 
3 

 

$
1,856 

 

$
11 

 

In addition, there were no qualifying subsequent defaults to TDRs in 2013.  In 2012, there was one commercial real estate loan with outstanding principal of $961 thousand modified as a TDR within the previous 12 months where a concession was made and the loan subsequently defaulted at some point during the year ended December 31, 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 years ended December 31, 2013 and 2012, with the respective loan balances as of those period ends:

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2013

(In thousands)

 

SBA

 

Commercial real estate

 

Total

Type of modification:

 

 

 

 

 

 

 

 

 

Interest only with reduced interest rate

 

$

 -

 

$
2,684 

 

$
2,684 

Interest only with nominal principal

 

 
65 

 

 

 -

 

 
65 

Total TDRs

 

$
65 

 

$
2,684 

 

$
2,749 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2012

(In thousands)

 

Commercial real estate

 

Total

Type of modification:

 

 

 

 

 

 

Interest only

 

$
1,890 

 

$
1,890 

Total TDRs

 

$
1,890 

 

$
1,890 

 

Schedule of Servicing Assets

 

 

 

 

 

 

 

 

 

For the years ended December 31,

(In thousands)

 

2013

 

2012

Balance, beginning of year

 

$
396 

 

$
418 

Servicing assets capitalized

 

 
187 

 

 
155 

Amortization of expense

 

 
(146)

 

 
(177)

Provision for loss in fair value

 

 

 -

 

 

 -

Balance, end of year

 

$
437 

 

$
396 

 

Schedule of Related Party Transactions

 

 

 

 

 

 

 

 

 

For the years ended December 31,

(In thousands)

 

2013

 

2012

Balance, beginning of year

 

$
14,605 

 

$
15,585 

New loans

 

 
4,521 

 

 
537 

Loan repayments

 

 
(799)

 

 
(1,517)

Balance, end of year

 

$
18,327 

 

$
14,605