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Loans (Tables)
 12 Months Ended
Dec. 31, 2014
Loans [Abstract]  
Classification Of Loans By Class

 

 

 

 

 

 

 

(In thousands)

 

December 31, 2014

 

December 31, 2013

SBA loans held for investment

 

$
40,401 

 

$
48,918 

SBA 504 loans

 

 
34,322 

 

 
31,564 

Commercial loans

 

 

 

 

 

 

Commercial other

 

 
40,607 

 

 
37,611 

Commercial real estate

 

 
339,693 

 

 
317,471 

Commercial real estate construction

 

 
21,649 

 

 
8,258 

Residential mortgage loans

 

 
220,878 

 

 
182,067 

Consumer loans

 

 

 

 

 

 

Home equity

 

 
41,451 

 

 
43,704 

Consumer other

 

 
17,645 

 

 
2,435 

Total loans held for investment

 

$
756,646 

 

$
672,028 

SBA loans held for sale

 

 
5,179 

 

 
6,673 

Total loans

 

$
761,825 

 

$
678,701 

 

Loan Portfolio By Class According To Their Credit Quality Indicators

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, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held for investment

 

$
35,827 

 

$
2,250 

 

$
2,324 

 

$
40,401 

SBA 504 loans

 

 
24,415 

 

 
5,967 

 

 
3,940 

 

 
34,322 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
38,054 

 

 
1,270 

 

 
1,283 

 

 
40,607 

Commercial real estate

 

 
315,015 

 

 
20,555 

 

 
4,123 

 

 
339,693 

Commercial real estate construction

 

 
21,649 

 

 

 -

 

 

 -

 

 
21,649 

Total commercial loans

 

 
374,718 

 

 
21,825 

 

 
5,406 

 

 
401,949 

Total SBA, SBA 504 and commercial loans

 

$
434,960 

 

$
30,042 

 

$
11,670 

 

$
476,672 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

$
220,233 

 

$
645 

 

$
220,878 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 
40,908 

 

 
543 

 

 
41,451 

Consumer other

 

 

 

 

 
17,643 

 

 
2 

 

 
17,645 

Total consumer loans

 

 

 

 

 
58,551 

 

 
545 

 

 
59,096 

Total residential mortgage and consumer loans

 

 

 

 

$
278,784 

 

$
1,190 

 

$
279,974 

 

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

 

 

December 31, 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

 

$
1,093 

 

$
147 

 

$
161 

 

$
3,348 

 

$
4,749 

 

$
35,652 

 

$
40,401 

SBA 504 loans

 

 
1,639 

 

 

 -

 

 

 -

 

 
2,109 

 

 
3,748 

 

 
30,574 

 

 
34,322 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 

 -

 

 

 -

 

 

 -

 

 
1,129 

 

 
1,129 

 

 
39,478 

 

 
40,607 

Commercial real estate

 

 
2,812 

 

 

 -

 

 
7 

 

 
3,592 

 

 
6,411 

 

 
333,282 

 

 
339,693 

Commercial real estate construction

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
21,649 

 

 
21,649 

Residential mortgage loans

 

 
2,887 

 

 
658 

 

 
722 

 

 
645 

 

 
4,912 

 

 
215,966 

 

 
220,878 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
639 

 

 
213 

 

 

 -

 

 
543 

 

 
1,395 

 

 
40,056 

 

 
41,451 

Consumer other

 

 

 -

 

 
6 

 

 

 -

 

 
2 

 

 
8 

 

 
17,637 

 

 
17,645 

Total loans held for investment

 

$
9,070 

 

$
1,024 

 

$
890 

 

$
11,368 

 

$
22,352 

 

$
734,294 

 

$
756,646 

SBA loans held for sale

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
5,179 

 

 
5,179 

Total loans

 

$
9,070 

 

$
1,024 

 

$
890 

 

$
11,368 

 

$
22,352 

 

$
739,473 

 

$
761,825 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

At December 31, 2014, nonaccrual loans included $3.0 million of TDRs and $1.6 million of loans guaranteed by the SBA.  The remaining $3.5 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, 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 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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.
Impaired Loans With The Associated Allowance Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

$
1,719 

 

$
1,093 

 

$

 -

SBA 504 loans

 

 
2,202 

 

 
2,202 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
878 

 

 
877 

 

 

 -

Commercial real estate

 

 
2,017 

 

 
1,927 

 

 

 -

Total commercial loans

 

 
2,895 

 

 
2,804 

 

 

 -

Total impaired loans with no related allowance

 

 
6,816 

 

 
6,099 

 

 

 -

 

 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 
1,521 

 

 
1,127 

 

 
502 

SBA 504 loans

 

 
1,676 

 

 
1,676 

 

 
510 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
364 

 

 
252 

 

 
41 

Commercial real estate

 

 
3,003 

 

 
3,003 

 

 
108 

Total commercial loans

 

 
3,367 

 

 
3,255 

 

 
149 

Total impaired loans with a related allowance

 

 
6,564 

 

 
6,058 

 

 
1,161 

 

 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 
3,240 

 

 
2,220 

 

 
502 

SBA 504 loans

 

 
3,878 

 

 
3,878 

 

 
510 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
1,242 

 

 
1,129 

 

 
41 

Commercial real estate

 

 
5,020 

 

 
4,930 

 

 
108 

Total commercial loans

 

 
6,262 

 

 
6,059 

 

 
149 

Total individually evaluated impaired loans

 

$
13,380 

 

$
12,157 

 

$
1,161 

 

(1)

Balances are reduced by amount guaranteed by the SBA of $1.6 million at December 31, 2014.

 

 

 

 

 

 

 

 

 

 

 

 

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 

 

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

 

 

For the years ended December 31,

 

 

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)

 

$
3,028 

 

$
256 

 

$
3,244 

 

$
197 

SBA 504 loans

 

 
3,042 

 

 
109 

 

 
5,066 

 

 
173 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
323 

 

 
2 

 

 
1,461 

 

 
100 

Commercial real estate

 

 
6,336 

 

 
231 

 

 
9,751 

 

 
324 

Commercial real estate construction

 

 
73 

 

 
23 

 

 
171 

 

 

 -

Total

 

$
12,802 

 

$
621 

 

$
19,693 

 

$
794 

 

(1)

Balances are reduced by the average amount guaranteed by the SBA of $1.2 million and $953 thousand for years ended December 31, 2014 and 2013, respectively.
Troubled Debt Restructurings Loans Modified

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the years ended December 31,

 

 

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

SBA loans held for investment

 

 

 -

 

$

 -

 

$

 -

 

 
1 

 

$
65 

 

$

 -

Commercial real estate

 

 

 -

 

 

 -

 

 

 -

 

 
1 

 

 
2,684 

 

 
50 

Total

 

 

 -

 

$

 -

 

$

 -

 

 
2 

 

$
2,749 

 

$
50 

 

Troubled Debt Restructurings Types of Modifications

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2013

(In thousands)

 

SBA held for investment

 

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 

 

Schedule of Servicing Assets

 

 

 

 

 

 

 

 

 

For the years ended December 31,

(In thousands)

 

2014

 

2013

Balance, beginning of year

 

$
437 

 

$
396 

Servicing assets capitalized

 

 
483 

 

 
187 

Amortization of expense

 

 
(167)

 

 
(146)

Provision for loss in fair value

 

 

 -

 

 

 -

Balance, end of year

 

$
753 

 

$
437 

 

Schedule of Related Party Transactions

 

 

 

 

(In thousands)

 

December 31, 2014

Balance, beginning of year

 

$
18,327 

New loans and advances

 

 
9,254 

Loan repayments

 

 
(1,129)

Balance, end of year

 

$
26,452