Annual report pursuant to Section 13 and 15(d)

Loans Receivable (Tables)

v2.4.0.8
Loans Receivable (Tables)
 12 Months Ended
Dec. 31, 2013
Receivables [Abstract]  
Schedule of Classification of Loans Receivable [Table Text Block]
Year end loans are summarized below:
 
 
 
(Dollars in thousands)
 
 
 
2013
 
2012
 
Loans secured by real estate:
 
 
 
 
 
 
 
Construction and land development
 
$
21,462
 
$
23,984
 
Residential, including home equity
 
 
161,932
 
 
154,945
 
Commercial real estate and other dwelling
 
 
175,160
 
 
179,825
 
Total loans secured by real estate
 
 
358,554
 
 
358,754
 
Consumer loans
 
 
237
 
 
350
 
Commercial business
 
 
57,790
 
 
69,310
 
Government and other
 
 
21,587
 
 
8,869
 
Subtotal
 
 
438,168
 
 
437,283
 
Less:
 
 
 
 
 
 
 
Net deferred loan origination fees
 
 
(252)
 
 
(251)
 
Undisbursed loan funds
 
 
(95)
 
 
(51)
 
Loans receivable
 
$
437,821
 
$
436,981
 
Allowance for Credit Losses on Financing Receivables [Table Text Block]
(Dollars in thousands)
 
Residential Real
Estate,  Including
Home Equity
 
Consumer
Loans
 
Commercial
Real Estate,
Construction &
Land Development,
and Other
Dwellings
 
Commercial
Participations
Purchased
 
Commercial
Business
Loans
 
Government
Loans
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The Bancorp's activity in the allowance for loan losses is summarized below for the twelve months ended December 31, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning Balance
 
$
1,024
 
$
19
 
$
4,550
 
$
1,608
 
$
1,220
 
$
-
 
 
8,421
 
Charge-offs
 
 
(153)
 
 
(17)
 
 
(788)
 
 
(332)
 
 
(567)
 
 
-
 
 
(1,857)
 
Recoveries
 
 
1
 
 
5
 
 
9
 
 
137
 
 
23
 
 
-
 
 
175
 
Provisions
 
 
572
 
 
5
 
 
1,018
 
 
(1,382)
 
 
183
 
 
54
 
 
450
 
Ending Balance
 
$
1,444
 
$
12
 
$
4,789
 
$
31
 
$
859
 
$
54
 
$
7,189
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The Bancorp's activity in the allowance for loan losses is summarized below for the twelve months ended December 31, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning Balance
 
$
1,161
 
$
15
 
$
3,329
 
$
2,399
 
$
1,101
 
$
-
 
$
8,005
 
Charge-offs
 
 
(336)
 
 
(17)
 
 
(256)
 
 
(873)
 
 
(619)
 
 
-
 
 
(2,101)
 
Recoveries
 
 
4
 
 
5
 
 
13
 
 
108
 
 
37
 
 
-
 
 
167
 
Provisions
 
 
195
 
 
16
 
 
1,464
 
 
(26)
 
 
701
 
 
-
 
 
2,350
 
Ending Balance
 
$
1,024
 
$
19
 
$
4,550
 
$
1,608
 
$
1,220
 
$
-
 
$
8,421
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The Bancorp's allowance for loan losses impairment evaluation and financing receivables are summarized below at December 31, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance: individually evaluated for impairment
 
$
16
 
$
-
 
$
1,657
 
$
-
 
$
30
 
$
-
 
$
1,703
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance: collectively evaluated for impairment
 
$
1,428
 
$
12
 
$
3,132
 
$
31
 
$
829
 
$
54
 
$
5,486
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FINANCING RECEIVABLES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
 
$
161,664
 
$
232
 
$
195,349
 
$
1,273
 
$
57,716
 
$
21,587
 
$
437,821
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance: individually evaluated for impairment
 
$
887
 
$
-
 
$
8,446
 
$
-
 
$
534
 
$
-
 
$
9,867
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance: collectively evaluated for impairment
 
$
160,777
 
$
232
 
$
186,903
 
$
1,273
 
$
57,182
 
$
21,587
 
$
427,954
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The Bancorp's allowance for loan losses impairment evaluation and financing receivables are summarized below at December 31, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance: individually evaluated for impairment
 
$
9
 
$
-
 
$
1,783
 
$
-
 
$
209
 
$
-
 
$
2,001
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance: collectively evaluated for impairment
 
$
1,015
 
$
19
 
$
2,767
 
$
1,608
 
$
1,011
 
$
-
 
$
6,420
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FINANCING RECEIVABLES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
 
$
154,627
 
$
347
 
$
175,769
 
$
28,040
 
$
69,329
 
$
8,869
 
$
436,981
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance: individually evaluated for impairment
 
$
692
 
$
-
 
$
10,778
 
$
6,378
 
$
2,032
 
$
-
 
$
19,880
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance: collectively evaluated for impairment
 
$
153,935
 
$
347
 
$
164,991
 
$
21,662
 
$
67,297
 
$
8,869
 
$
417,101
 
Financing Receivable Credit Quality Indicators [Table Text Block]
The Bancorp's credit quality indicators, are summarized below at December 31:
 
 
 
(Dollars in thousands)
 
 
 
Corporate Credit Exposure - Credit Risk Portfolio By Creditworthiness Category
 
 
 
Commercial Real Estate, Construction 
& Land Development, and Other Dwellings
 
Commercial Participations Purchased
 
Commercial Business Loans
 
Government 
Loans
 
Loan Grades
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
 
2013
 
2012
 
2 Moderate risk
 
$
-
 
$
19
 
$
-
 
$
-
 
$
4,279
 
$
5,674
 
$
-
 
$
-
 
3 Acceptable risk
 
 
150,303
 
 
110,416
 
 
1,013
 
 
15,585
 
 
41,474
 
 
45,202
 
 
21,587
 
 
8,869
 
4 Pass/monitor
 
 
33,153
 
 
51,100
 
 
260
 
 
1,029
 
 
11,173
 
 
13,500
 
 
-
 
 
-
 
5 Special mention (watch)
 
 
3,348
 
 
3,630
 
 
-
 
 
5,984
 
 
88
 
 
3,300
 
 
-
 
 
-
 
6 Substandard
 
 
8,545
 
 
10,604
 
 
-
 
 
5,442
 
 
702
 
 
1,653
 
 
-
 
 
-
 
7 Doubtful
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Total
 
$
195,349
 
$
175,769
 
$
1,273
 
$
28,040
 
$
57,716
 
$
69,329
 
$
21,587
 
$
8,869
 
 
 
 
(Dollars in thousands)
 
 
 
Consumer Credit Exposure - Credit Risk Profile Based On Payment Activity
 
 
 
Residential Real Estate,
Including Home Equity
 
Consumer Loans
 
 
 
2013
 
2012
 
2013
 
2012
 
Performing
 
$
158,963
 
$
152,838
 
$
232
 
$
337
 
Non-performing
 
 
2,701
 
 
1,789
 
 
-
 
 
10
 
Total
 
$
161,664
 
$
154,627
 
$
232
 
$
347
 
Troubled Debt Restructurings on Financing Receivables [Table Text Block]
The Bancorp's troubled debt restructurings for the periods presented are summarized below:
 
 
 
(Dollars in thousands)
 
 
 
Number of 
Contracts
 
Pre-
Modification
Outstanding 
Recorded
 Investment
 
Post-
Modification 
Outstanding 
Recorded 
Investment
 
Number of 
Contracts
 
Pre-
Modification 
Outstanding 
Recorded 
Investment
 
Post-
Modification 
Outstanding 
Recorded 
Investment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2013
 
December 31, 2012
 
Troubled debt restructurings during the period:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential real estate, including home equity
 
 
6
 
$
792
 
$
770
 
 
7
 
$
700
 
$
692
 
Consumer loans
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Commercial real estate, construction & land development, and other dwellings
 
 
-
 
 
-
 
 
-
 
 
3
 
 
1,440
 
 
1,440
 
Commercial participations purchased
 
 
-
 
 
-
 
 
-
 
 
1
 
 
1,290
 
 
935
 
Commercial business loans
 
 
-
 
 
-
 
 
-
 
 
1
 
 
108
 
 
88
 
Government loans
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
 
 
Number of
Contracts
 
 
Recorded
Investment
 
 
 
Number of
Contracts
 
 
Recorded
Investment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2013
 
 
 
December 31, 2012
 
 
Troubled debt restructurings that subsequently defaulted during the periods presented:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential real estate, including home equity
 
1
 
$
106
 
 
 
1
 
$
39
 
 
Consumer loans
 
-
 
 
-
 
 
 
-
 
 
-
 
 
Commercial real estate, construction & land
 
1
 
$
707
 
 
 
 
 
 
 
 
 
development, and other dwellings
 
-
 
 
-
 
 
 
-
 
 
-
 
 
Commercial participations purchased
 
-
 
 
-
 
 
 
-
 
 
-
 
 
Commercial business loans
 
-
 
 
-
 
 
 
-
 
 
-
 
 
Government loans
 
-
 
 
-
 
 
 
-
 
 
-
 
 
Impaired Financing Receivables [Table Text Block]
The Bancorp's individually evaluated impaired loans are summarized below:
 
 
 
As of December 31, 2013
 
For the twelve months ended
December 31, 2013
 
(Dollars in thousands)
 
Recorded
Investment
 
Unpaid Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
 Income
Recognized
 
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential real estate, including home equity
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
Commercial real estate, construction & land development, and other dwellings
 
 
617
 
 
617
 
 
-
 
 
898
 
 
9
 
Commercial participations purchased
 
 
-
 
 
-
 
 
-
 
 
2,469
 
 
-
 
Commercial business loans
 
 
228
 
 
228
 
 
-
 
 
668
 
 
1
 
With an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential real estate, including home equity
 
 
887
 
 
899
 
 
16
 
 
920
 
 
9
 
Commercial real estate, construction & land development, and other dwellings
 
 
7,829
 
 
7,829
 
 
1,657
 
 
8,770
 
 
74
 
Commercial participations purchased
 
 
-
 
 
-
 
 
-
 
 
189
 
 
-
 
Commercial business loans
 
 
306
 
 
574
 
 
30
 
 
454
 
 
1
 
Total:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential real estate, including home equity
 
$
887
 
$
899
 
$
16
 
$
920
 
$
9
 
Commercial real estate, construction & land development, and other dwellings
 
$
8,446
 
$
8,446
 
$
1,657
 
$
9,668
 
$
83
 
Commercial participations purchased
 
$
-
 
$
-
 
$
-
 
$
2,658
 
$
-
 
Commercial business loans
 
$
534
 
$
802
 
$
30
 
$
1,122
 
$
2
 
 
 
 
As of December 31, 2012
 
For the twelve months ended
December 31, 2012
 
(Dollars in thousands)
 
Recorded
Investment
 
Unpaid Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential real estate, including home equity
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
Commercial real estate, construction & land development, and other dwellings
 
 
591
 
 
591
 
 
-
 
 
652
 
 
3
 
Commercial participations purchased
 
 
6,378
 
 
11,047
 
 
-
 
 
5,080
 
 
-
 
Commercial business loans
 
 
727
 
 
1,000
 
 
-
 
 
992
 
 
32
 
With an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential real estate, including home equity
 
 
692
 
 
692
 
 
9
 
 
782
 
 
20
 
Commercial real estate, construction & land development, and other dwellings
 
 
10,187
 
 
10,271
 
 
1,783
 
 
10,207
 
 
349
 
Commercial participations purchased
 
 
-
 
 
-
 
 
-
 
 
1,394
 
 
-
 
Commercial business loans
 
 
1,305
 
 
1,305
 
 
209
 
 
874
 
 
51
 
Total:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential real estate, including home equity
 
$
692
 
$
692
 
$
9
 
$
782
 
$
20
 
Commercial real estate, construction & land development, and other dwellings
 
$
10,778
 
$
10,862
 
$
1,783
 
$
10,859
 
$
352
 
Commercial participations purchased
 
$
6,378
 
$
11,047
 
$
-
 
$
6,474
 
$
-
 
Commercial business loans
 
$
2,032
 
$
2,305
 
$
209
 
$
1,866
 
$
83
 
Past Due Financing Receivables [Table Text Block]
The Bancorp's age analysis of past due loans is summarized below:
 
(Dollars in thousands)
 
 
 
30-59 Days
Past Due
 
60-89 Days
Past Due
 
Greater
Than 90
Days Past
Due
 
Total Past
Due
 
Current
 
Total Loans
 
Recorded
Investments
Greater than
90 Days and
Accruing
 
December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential real estate, including home equity
 
$
3,721
 
$
1,090
 
$
1,502
 
$
6,313
 
$
155,351
 
$
161,664
 
$
174
 
Consumer loans
 
 
1
 
 
-
 
 
-
 
 
1
 
 
231
 
 
232
 
 
-
 
Commercial real estate, construction & land development, and other dwellings
 
 
1,083
 
 
2,626
 
 
768
 
 
4,477
 
 
190,872
 
 
195,349
 
 
-
 
Commercial participations purchased
 
 
-
 
 
-
 
 
-
 
 
-
 
 
1,273
 
 
1,273
 
 
-
 
Commercial business loans
 
 
1,032
 
 
25
 
 
447
 
 
1,504
 
 
56,212
 
 
57,716
 
 
-
 
Government loans
 
 
-
 
 
-
 
 
-
 
 
-
 
 
21,587
 
 
21,587
 
 
-
 
Total
 
$
5,837
 
$
3,741
 
$
2,717
 
$
12,295
 
$
425,526
 
$
437,821
 
$
174
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential real estate, including home equity
 
$
4,172
 
$
1,145
 
$
1,448
 
$
6,765
 
$
147,862
 
$
154,627
 
$
-
 
Consumer loans
 
 
-
 
 
-
 
 
-
 
 
-
 
 
347
 
 
347
 
 
-
 
Commercial real estate, construction & land development, and other dwellings
 
 
4,044
 
 
390
 
 
1,993
 
 
6,427
 
 
169,342
 
 
175,769
 
 
229
 
Commercial participations purchased
 
 
5
 
 
-
 
 
5,442
 
 
5,447
 
 
22,593
 
 
28,040
 
 
-
 
Commercial business loans
 
 
689
 
 
116
 
 
1,525
 
 
2,330
 
 
66,999
 
 
69,329
 
 
-
 
Government loans
 
 
-
 
 
-
 
 
-
 
 
-
 
 
8,869
 
 
8,869
 
 
-
 
Total
 
$
8,910
 
$
1,651
 
$
10,408
 
$
20,969
 
$
416,012
 
$
436,981
 
$
229
 
Schedule of Financing Receivables, Non Accrual Status [Table Text Block]
The Bancorp's loans on nonaccrual status are summarized below:
 
 
 
(Dollars in thousands)
 
 
 
December 31,
2013
 
December 31,
2012
 
Residential real estate, including home equity
 
$
2,526
 
$
1,846
 
Consumer loans
 
 
-
 
 
10
 
Commercial real estate, construction & land development, and other dwellings
 
 
807
 
 
2,311
 
Commercial participations purchased
 
 
-
 
 
5,442
 
Commercial business loans
 
 
447
 
 
1,644
 
Government loans
 
 
-
 
 
-
 
Total
 
$
3,780
 
$
11,253