Note 4 - Loans Receivable, Net

12 Months Ended

Dec. 31, 2014

Receivables [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE 4 Loans Receivable, Net

A summary of loans receivable at December 31 is as follows:

(Dollars in thousands)	2014			2013
Residential real estate loans:
1-4 family conventional	$	69,372			75,958
1-4 family FHA		426			464
1-4 family VA		43			45
		69,841			76,467
Commercial real estate:
Lodging		28,466			33,603
Retail/office		40,279			42,490
Nursing home/health care		7,032			6,558
Land developments		17,766			28,643
Golf courses		5,505			6,574
Restaurant/bar/café		3,370			3,609
Alternative fuel plants		5,377			9,783
Warehouse		10,137			9,180
Construction:
1-4 family builder		6,454			7,299
Multi-family		1,062			0
Commercial real estate		5,087			552
Manufacturing		8,022			11,344
Churches/community service		8,385			7,199
Multi-family		15,700			8,113
Convenience stores		8,562			0
Other		20,464			19,503
		191,668			194,450
Consumer:
Autos		1,124			971
Home equity line		36,832			36,178
Home equity		12,420			11,629
Consumer – secured		1,168			1,070
Land/lot loans		1,670			1,827
Savings		128			177
Mobile home		263			360
Consumer – unsecured		1,320			1,211
		54 ,925			53,423
Commercial business		57,122			71,709
Total loans		373,556			396,049
Less:
Unamortized discounts		14			33
Net deferred loan fees		97			0
Allowance for loan losses		8,332			11,401
Total loans receivable, net	$	365,113			384,615
Commitments to originate or purchase loans	$	29,635			39,507
Commitments to deliver loans to secondary market	$	3,279			2,025
Weighted average contractual rate of loans in portfolio		4.52	%		4.71	%

Included in total commitments to originate or purchase loans are fixed rate loans aggregating $21.2 million and $26.3 million as of December 31, 2014 and 2013, respectively. The interest rates on these loan commitments ranged from 3.00% to 6.00% at December 31, 2014 and from 3.38% to 5.79% at December 31, 2013.

The aggregate amounts of loans to executive officers and directors of the Company was $2.8 million, $3.1 million and $3.1 million at December 31, 2014, 2013 and 2012, respectively. During 2014, repayments on loans to executive officers and directors were $128,000, new loans to executive officers and directors totaled $224,000, sales of executive officer and director loans were $224,000, loans reclassified due to change in officers were $139,000, and no loans were closed or paid off. During 2013, repayments on loans to executive officers and directors were $106,000, new loans to executive officers and directors totaled $281,000, there were no sales of executive officer and director loans, and no loans were removed from the executive officer listing due to change in status of the officer or loan. All loans were made in the ordinary course of business on normal credit terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated parties and did not involve more than the normal risk of collectability or present other unfavorable features.

At December 31, 2014, 2013, and 2012, the Company was servicing loans for others with aggregate unpaid principal balances of approximately $379.7 million, $411.8 million and $428.2 million, respectively.

The Company originates residential, commercial real estate and other loans primarily in Minnesota, Iowa, and Wisconsin. At December 31, 2014 and 2013, the Company had in its portfolio single-family residential loans located in the following states:

	2014					2013
(Dollars in thousands)	Amount		Percent of Total			Amount		Percent of Total
Iowa	$	3,145		4.5	%	$	3,793		5.0	%
Minnesota		62,219		89.1			69,219		90.5
Wisconsin		3,160		4.5			1,770		2.3
Other states		1,317		1.9			1,685		2.2
Total	$	69,841		100.0	%	$	76,467		100.0	%
Amounts under one million dollars in both years are included in “Other states”.

At December 31, 2014 and 2013, the Company had in its portfolio commercial real estate loans located in the following states:

	2014					2013
(Dollars in thousands)	Amount		Percent of Total			Amount		Percent of Total
Alabama	$	2,202		1.2	%	$	0		0.0	%
Florida		2,253		1.2			2,312		1.2
Idaho		3,810		2.0			3,936		2.0
Indiana		3,501		1.8			5,023		2.6
Iowa		0		0.0			1,267		0.6
Michigan		2,558		1.3			0		0.0
Minnesota		145,341		75.8			163,040		83.9
North Carolina		5,598		2.9			5,576		2.9
North Dakota		1,572		0.8			1,282		0.7
Wisconsin		22,354		11.7			10,589		5.4
Other states		2,479		1.3			1,425		0.7
Total	$	191,668		100.0	%	$	194,450		100.0	%
Amounts under one million dollars in both years are included in “Other states”.