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Loans (Tables)
 3 Months Ended
Mar. 31, 2015
Loans [Abstract]  
Classification Of Loans By Class

 

 

 

 

 

 

 

(In thousands)

 

March 31, 2015

 

December 31, 2014

SBA loans held for investment

 

$
39,155 

 

$
40,401 

SBA 504 loans

 

 
29,893 

 

 
34,322 

Commercial loans

 

 

 

 

 

 

Commercial other

 

 
39,378 

 

 
40,607 

Commercial real estate

 

 
348,939 

 

 
339,693 

Commercial real estate construction

 

 
22,425 

 

 
21,649 

Residential mortgage loans

 

 
235,371 

 

 
220,878 

Consumer loans

 

 

 

 

 

 

Home equity

 

 
43,081 

 

 
41,451 

Consumer other

 

 
19,471 

 

 
17,645 

Total loans held for investment

 

$
777,713 

 

$
756,646 

SBA loans held for sale

 

 
6,929 

 

 
5,179 

Total loans

 

$
784,642 

 

$
761,825 

 

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 March 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2015

 

 

SBA, SBA 504 & Commercial loans - Internal risk ratings

(In thousands)

 

Pass

 

Special mention

 

Substandard

 

Total

SBA loans held for investment

 

$
34,760 

 

$
2,381 

 

$
2,014 

 

$
39,155 

SBA 504 loans

 

 
23,327 

 

 
5,917 

 

 
649 

 

 
29,893 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
35,786 

 

 
2,526 

 

 
1,066 

 

 
39,378 

Commercial real estate

 

 
321,577 

 

 
23,166 

 

 
4,196 

 

 
348,939 

Commercial real estate construction

 

 
22,425 

 

 

 -

 

 

 -

 

 
22,425 

Total commercial loans

 

 
379,788 

 

 
25,692 

 

 
5,262 

 

 
410,742 

Total SBA, SBA 504 and commercial loans

 

$
437,875 

 

$
33,990 

 

$
7,925 

 

$
479,790 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage & Consumer loans - Performing/Nonperforming

(In thousands)

 

 

 

 

Performing

 

Nonperforming

 

Total

Residential mortgage loans

 

 

 

 

$
233,623 

 

$
1,748 

 

$
235,371 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

 

 

 
42,394 

 

 
687 

 

 
43,081 

Consumer other

 

 

 

 

 
19,465 

 

 
6 

 

 
19,471 

Total consumer loans

 

 

 

 

 
61,859 

 

 
693 

 

 
62,552 

Total residential mortgage and consumer loans

 

 

 

 

$
295,482 

 

$
2,441 

 

$
297,923 

 

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 

 

Aging Analysis Of Past Due And Nonaccrual Loans By Loan Class

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2015

(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

 

$
840 

 

$

 -

 

$

 -

 

$
1,720 

 

$
2,560 

 

$
36,595 

 

$
39,155 

SBA 504 loans

 

 

 -

 

 

 -

 

 

 -

 

 
466 

 

 
466 

 

 
29,427 

 

 
29,893 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
8 

 

 
447 

 

 

 -

 

 
1,017 

 

 
1,472 

 

 
37,906 

 

 
39,378 

Commercial real estate

 

 
619 

 

 
123 

 

 
5 

 

 
3,497 

 

 
4,244 

 

 
344,695 

 

 
348,939 

Commercial real estate construction

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
22,425 

 

 
22,425 

Residential mortgage loans

 

 
1,195 

 

 
441 

 

 

 -

 

 
1,748 

 

 
3,384 

 

 
231,987 

 

 
235,371 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 
313 

 

 
50 

 

 

 -

 

 
687 

 

 
1,050 

 

 
42,031 

 

 
43,081 

Consumer other

 

 

 -

 

 

 -

 

 

 -

 

 
6 

 

 
6 

 

 
19,465 

 

 
19,471 

Total loans held for investment

 

$
2,975 

 

$
1,061 

 

$
5 

 

$
9,141 

 

$
13,182 

 

$
764,531 

 

$
777,713 

SBA loans held for sale

 

 
82 

 

 

 -

 

 

 -

 

 

 -

 

 
82 

 

 
6,847 

 

 
6,929 

Total loans

 

$
3,057 

 

$
1,061 

 

$
5 

 

$
9,141 

 

$
13,264 

 

$
771,378 

 

$
784,642 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

At March 31, 2015, nonaccrual loans included $2.9 million of TDRs and $270 thousand 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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.

Impaired Loans With The Associated Allowance Amount

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 March 31, 2015: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2015

(In thousands)

 

Unpaid principal balance

 

Recorded investment

 

Specific reserves

With no related allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

$
1,234 

 

$
790 

 

$

 -

SBA 504 loans

 

 
2,220 

 

 
2,220 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
1,207 

 

 
1,008 

 

 

 -

Commercial real estate

 

 
1,756 

 

 
1,756 

 

 

 -

Total commercial loans

 

 
2,963 

 

 
2,764 

 

 

 -

Total impaired loans with no related allowance

 

 
6,417 

 

 
5,774 

 

 

 -

 

 

 

 

 

 

 

 

 

 

With an allowance:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 
1,676 

 

 
1,098 

 

 
593 

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
22 

 

 
9 

 

 
9 

Commercial real estate

 

 
3,007 

 

 
3,007 

 

 
379 

Total commercial loans

 

 
3,029 

 

 
3,016 

 

 
388 

Total impaired loans with a related allowance

 

 
4,705 

 

 
4,114 

 

 
981 

 

 

 

 

 

 

 

 

 

 

Total individually evaluated impaired loans:

 

 

 

 

 

 

 

 

 

SBA loans held for investment (1)

 

 
2,910 

 

 
1,888 

 

 
593 

SBA 504 loans

 

 
2,220 

 

 
2,220 

 

 

 -

Commercial loans

 

 

 

 

 

 

 

 

 

Commercial other

 

 
1,229 

 

 
1,017 

 

 
9 

Commercial real estate

 

 
4,763 

 

 
4,763 

 

 
379 

Total commercial loans

 

 
5,992 

 

 
5,780 

 

 
388 

Total individually evaluated impaired loans

 

$
11,122 

 

$
9,888 

 

$
981 

(1)

Balances are reduced by amount guaranteed by the SBA of $270 thousand at March 31, 2015.

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, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.
Average Recorded Investments in Impaired Loans and the Related Amount of Interest Recognized

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended March 31,

 

 

2015

 

2014

(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)

 

$
1,997 

 

$
133 

 

$
3,050 

 

$
36 

SBA 504 loans

 

 
3,871 

 

 
26 

 

 
2,698 

 

 
27 

Commercial loans

 

 

 

 

 

 

 

 

 

 

 

 

Commercial other

 

 
1,117 

 

 
18 

 

 
67 

 

 
1 

Commercial real estate

 

 
5,036 

 

 
62 

 

 
8,031 

 

 
74 

Commercial real estate construction

 

 

 -

 

 

 -

 

 
177 

 

 

 -

Total

 

$
12,021 

 

$
239 

 

$
14,023 

 

$
138 

(1)

Balances are reduced by the average amount guaranteed by the SBA of $800 thousand and $820 thousand for the three months ended March 31, 2015 and 2014, respectively.