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Loans (Tables)
 9 Months Ended
Sep. 30, 2014
Loans [Abstract]  
Classification Of Loans By Class [Table Text Block]

 

 

 

 

 

 

 

(In thousands)

 

September 30, 2014

 

December 31, 2013

SBA loans held for investment

 

$
44,502 

 

$
48,918 

SBA 504 loans

 

 
34,152 

 

 
31,564 

Commercial loans

 

 

 

 

 

 

Commercial other

 

 
38,649 

 

 
37,611 

Commercial real estate

 

 
337,827 

 

 
317,471 

Commercial real estate construction

 

 
14,862 

 

 
8,258 

Residential mortgage loans

 

 
211,450 

 

 
182,067 

Consumer loans

 

 

 

 

 

 

Home equity

 

 
53,623 

 

 
43,704 

Consumer other

 

 
1,466 

 

 
2,435 

Total loans held for investment

 

$
736,531 

 

$
672,028 

SBA loans held for sale

 

 
7,835 

 

 
6,673 

Total loans

 

$
744,366 

 

$
678,701 

 

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 September 30, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2014

 

 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held for investment

 

$
39,529 

 

$
1,722 

 

$
3,251 

 

$
44,502 

SBA 504 loans

 

 
24,175 

 

 
7,670 

 

 
2,307 

 

 
34,152 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
35,732 

 

 
1,839 

 

 
1,078 

 

 
38,649 

Commercial real estate

 

 
313,023 

 

 
20,700 

 

 
4,104 

 

 
337,827 

Commercial real estate construction

 

 
14,862 

 

 

 -

 

 

 -

 

 
14,862 

Total commercial loans

 

 
363,617 

 

 
22,539 

 

 
5,182 

 

 
391,338 

Total SBA, SBA 504 and commercial loans

 

$
427,321 

 

$
31,931 

 

$
10,740 

 

$
469,992 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

$
209,352 

 

$
2,098 

 

$
211,450 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 
53,256 

 

 
367 

 

 
53,623 

Consumer other

 

 

 

 

 
1,466 

 

 

 -

 

 
1,466 

Total consumer loans

 

 

 

 

 
54,722 

 

 
367 

 

 
55,089 

Total residential mortgage and consumer loans

 

 

 

 

$
264,074 

 

$
2,465 

 

$
266,539 

 

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

 

 

 

 

$
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 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2014

(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

 

$
885 

 

$
30 

 

$

 -

 

$
2,572 

 

$
3,487 

 

$
41,015 

 

$
44,502 

SBA 504 loans

 

 

 -

 

 

 -

 

 

 -

 

 
2,109 

 

 
2,109 

 

 
32,043 

 

 
34,152 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
55 

 

 

 -

 

 

 -

 

 
393 

 

 
448 

 

 
38,201 

 

 
38,649 

Commercial real estate

 

 
418 

 

 
919 

 

 

 -

 

 
3,618 

 

 
4,955 

 

 
332,872 

 

 
337,827 

Commercial real estate construction

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
14,862 

 

 
14,862 

Residential mortgage loans

 

 
988 

 

 
84 

 

 

 -

 

 
2,098 

 

 
3,170 

 

 
208,280 

 

 
211,450 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
180 

 

 
30 

 

 

 -

 

 
367 

 

 
577 

 

 
53,046 

 

 
53,623 

Consumer other

 

 
18 

 

 

 -

 

 

 -

 

 

 -

 

 
18 

 

 
1,448 

 

 
1,466 

Total loans held for investment

 

$
2,544 

 

$
1,063 

 

$

 -

 

$
11,157 

 

$
14,764 

 

$
721,767 

 

$
736,531 

SBA loans held for sale

 

 

 -

 

 

 -

 

 

 -

 

 
55 

 

 
55 

 

 
7,780 

 

 
7,835 

Total loans

 

$
2,544 

 

$
1,063 

 

$

 -

 

$
11,212 

 

$
14,819 

 

$
729,547 

 

$
744,366 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

At September 30, 2014, nonaccrual loans included $3.5 million of troubled debt restructurings ("TDRs") and $200 thousand of loans guaranteed by the SBA.  The remaining $4.2 million of TDRs are in accrual status because they are performing in accordance with their restructured terms.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 
3,050 

 

 

 -

 

 
5 

 

 
5,727 

 

 
8,782 

 

 
173,285 

 

 
182,067 

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 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.

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

The following table provides detail on the Company’s impaired loans that are individually evaluated for impairment with the associated allowance amount, if applicable, as of September 30, 2014: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2014

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

$
1,325 

 

$
1,062 

 

$

 -

SBA 504 loans

 

 
3,893 

 

 
3,893 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
359 

 

 
359 

 

 

 -

Commercial real estate

 

 
5,322 

 

 
5,232 

 

 

 -

Total commercial loans

 

 
5,681 

 

 
5,591 

 

 

 -

Total impaired loans with no related allowance

 

 
10,899 

 

 
10,546 

 

 

 -

 

 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 
2,049 

 

 
1,824 

 

 
868 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
47 

 

 
34 

 

 
34 

Commercial real estate

 

 
337 

 

 
337 

 

 
49 

Total commercial loans

 

 
384 

 

 
371 

 

 
83 

Total impaired loans with a related allowance

 

 
2,433 

 

 
2,195 

 

 
951 

 

 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 
3,374 

 

 
2,886 

 

 
868 

SBA 504 loans

 

 
3,893 

 

 
3,893 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
406 

 

 
393 

 

 
34 

Commercial real estate

 

 
5,659 

 

 
5,569 

 

 
49 

Total commercial loans

 

 
6,065 

 

 
5,962 

 

 
83 

Total individually evaluated impaired loans

 

$
13,332 

 

$
12,741 

 

$
951 

(1)

Balances are reduced by amount guaranteed by the SBA of $200 thousand at September 30, 2014.

The following table provides detail on the Company’s impaired loans that are individually evaluated for impairment with the associated allowance amount, if applicable, as of December 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended September 30,

 

 

2014

 

2013

(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)

 

$
3,118 

 

$
72 

 

$
3,223 

 

$
40 

SBA 504 loans

 

 
3,344 

 

 
27 

 

 
4,069 

 

 
28 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
161 

 

 

 -

 

 
1,679 

 

 
16 

Commercial real estate

 

 
5,535 

 

 
44 

 

 
8,115 

 

 
83 

Commercial real estate construction

 

 

 -

 

 
23 

 

 
177 

 

 

 -

Total

 

$
12,158 

 

$
166 

 

$
17,263 

 

$
167 

(1)

Balances are reduced by the average amount guaranteed by the Small Business Administration of $732 thousand and $605 thousand for the three months ended September 30, 2014 and 2013, respectively.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the nine months ended September 30,

 

 

2014

 

2013

(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)

 

$
3,111 

 

$
127 

 

$
3,395 

 

$
153 

SBA 504 loans

 

 
2,760 

 

 
82 

 

 
5,642 

 

 
142 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
101 

 

 
2 

 

 
1,923 

 

 
100 

Commercial real estate

 

 
6,607 

 

 
167 

 

 
9,853 

 

 
252 

Commercial real estate construction

 

 
97 

 

 
23 

 

 
169 

 

 

 -

Total

 

$
12,676 

 

$
401 

 

$
20,982 

 

$
647 

(1)

Balances are reduced by the average amount guaranteed by the Small Business Administration of $1.2 million and $1.1 million for the nine months ended September 30, 2014 and 2013, respectively.
Troubled Debt Restructurings Loans Modified [Table Text Block]

The following table details loans modified during the nine months ended September 30, 2014 and 2013, including the number of modifications and the recorded investment at the time of the modification.  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the nine months ended September 30,

 

 

2014

 

2013

(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 real estate

 

$

 -

 

$

 -

 

 

 -

 

$
1 

 

$
2,684 

 

 
33 

Total

 

$

 -

 

$

 -

 

$

 -

 

$
1 

 

$
2,684 

 

$
33 

 

Troubled Debt Restructurings, Subsequent Default [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the nine months ended September 30,

 

 

2014

 

2013

(In thousands, except number of contracts)

 

Number of contracts

 

Recorded investment

 

Number of contracts

 

Recorded investment

SBA loans held for investment

 

 
1 

 

$
131 

 

 

 -

 

$

 -

Total

 

 
1 

 

$
131 

 

 

 -

 

$

 -

 

Troubled Debt Restructurings Types Of Modifications [TableText Block]

 

 

 

 

 

 

 

 

 

For the nine months ended September 30, 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