Note 5 - Loans Receivable, Net

12 Months Ended

Dec. 31, 2015

Receivables [Abstract]

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

NOTE 5 Loans Receivable, Net

A summary of loans receivable at December 31, 2015 and 2014, is as follows:

(Dollars in thousands)	2015			2014
Residential real estate loans:
1-4 family conventional	$	90,587			69,372
1-4 family FHA		206			426
1-4 family VA		152			43
		90,945			69,841
Commercial real estate:
Lodging		27,428			28,466
Retail/office		45,097			40,279
Nursing home/health care		9,183			7,032
Land developments		21,272			17,766
Golf courses		4,163			5,505
Restaurant/bar/café		5,854			3,370
Alternative fuel plants		2,205			5,377
Warehouse		18,337			10,137
Construction:
1-4 family builder		15,152			6,454
Multi-family		18,865			1,062
Commercial real estate		4,086			5,087
Manufacturing		11,585			8,022
Churches/community service		8,195			8,385
Multi-family		12,324			15,700
Other		43,607			29,026
		247,353			191,668
Consumer:
Autos		2,885			1,124
Home equity line		38,980			36,832
Home equity		14,782			12,420
Other – secured		2,031			1,559
Recreational vehicles		2,650			0
Land/lots		1,144			1,670
Other – unsecured		1,943			1,320
		64,415			54,925
Commercial business		70,106			57,122
Total loans		472,819			373,556
Less:
Unamortized discounts		16			14
Net deferred loan (costs) fees		(91	)		97
Allowance for loan losses		9,709			8,332
Total loans receivable, net	$	463,185			365,113
Commitments to originate or purchase loans	$	27,184			29,635
Commitments to deliver loans to secondary market	$	8,071			3,279
Weighted average contractual rate of loans in portfolio		4.54	%		4.52	%

Included in total commitments to originate or purchase loans are fixed rate loans aggregating $22.3 million and $21.2 million as of December 31, 2015 and 2014, respectively. The interest rates on these loan commitments ranged from 3.00% to 5.49% at December 31, 2015 and from 3.00% to 6.00% at December 31, 2014.

The aggregate amount of loans to executive officers and directors of the Company was $2.7 million, $2.8 million and $3.1 million at December 31, 2015, 2014 and 2013, respectively. During 2015, repayments on loans to executive officers and directors were $0.1 million, new loans to executive officers and directors totaled $0.2 million, and loans closed or paid off were $0.2 million. During 2014, repayments on loans to executive officers and directors were $0.1 million, new loans to executive officers and directors totaled $0.2 million, sales of executive officer and director loans were $0.2 million, and loans reclassified were $0.2 million. 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.

At December 31, 2015, 2014, and 2013, the Company was servicing loans for others with aggregate unpaid principal balances of approximately $391.9 million, $379.7 million and $411.8 million, respectively.

The Company originates residential, commercial real estate and other loans primarily in Minnesota, Iowa, and Wisconsin. At December 31, 2015 and 2014, the Company had in its portfolio single-family residential loans located in the following states:

	2015					2014
(Dollars in thousands)	Amount		Percent of Total			Amount		Percent of Total
Iowa	$	5,387		5.9	%	$	3,145		4.5	%
Minnesota		75,417		82.9			62,219		89.1
Wisconsin		7,956		8.8			3,160		4.5
Other states		2,185		2.4			1,317		1.9
Total	$	90,945		100.0	%	$	69,841		100.0	%

Amounts under one million dollars in both years are included in “Other states”.

At December 31, 2015 and 2014, the Company had in its portfolio commercial real estate loans located in the following states:

	2015					2014
(Dollars in thousands)	Amount		Percent of Total			Amount		Percent of Total
Alabama	$	2,056		0.8	%	$	2,202		1.2	%
Florida		3,738		1.5			2,253		1.2
Idaho		3,678		1.5			3,810		2.0
Indiana		4,608		1.9			3,501		1.8
Iowa		1,106		0.4			0		0.0
Michigan		0		0.0			2,558		1.3
Minnesota		184,670		74.7			145,341		75.8
North Carolina		4,203		1.7			5,598		2.9
North Dakota		7,979		3.2			1,572		0.8
Wisconsin		31,918		12.9			22,354		11.7
Other states		3,397		1.4			2,479		1.3
Total	$	247,353		100.0	%	$	191,668		100.0	%

Amounts under one million dollars in both years are included in “Other states”.