Quarterly report pursuant to Section 13 or 15(d)

Loans Receivable (Tables)

v2.4.0.6
Loans Receivable (Tables)
 3 Months Ended
Mar. 31, 2013
Receivables [Abstract]  
Schedule of Classification of Loans Receivable [Table Text Block]
(Dollars in thousands)   March 31, 2013     December 31, 2012  
Loans secured by real estate:                
Construction and land development   $ 23,507     $ 23,984  
Residential, including home equity     157,262       154,945  
Commercial real estate and other dwelling     183,147       179,825  
Total loans secured by real estate     363,916       358,754  
Consumer loans     312       350  
Commercial business     63,979       69,310  
Government and other     13,033       8,869  
Subtotal     441,240       437,283  
Less:                
Net deferred loan origination fees     (272 )     (251 )
Undisbursed loan funds     (42 )     (51 )
Loans receivable   $ 440,926     $ 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 three months ended March 31, 2013:      
                                                         
Allowance for loan losses:                                                        
Beginning Balance   $ 1,024     $ 19     $ 4,550     $ 1,608     $ 1,220     $ -     $ 8,421  
Charge-offs     -       (3 )     (40 )     -       (170 )     -       (213 )
Recoveries     -       2       -       -       2       -       4  
Provisions     23       (1 )     (11 )     106       (1 )     19       135  
Ending Balance   $ 1,047     $ 17     $ 4,499     $ 1,714     $ 1,051     $ 19     $ 8,347  
                                                         
The Bancorp's activity in the allowance for loan losses is summarized below for the three months ended March 31, 2012:        
                                                         
Allowance for loan losses:                                                        
Beginning Balance   $ 1,161     $ 15     $ 3,329     $ 2,399     $ 1,101     $ -     $ 8,005  
Charge-offs     (194 )     (4 )     (101 )     (29 )     -       -       (328 )
Recoveries     -       2       -       -       2       -       4  
Provisions     228       24       437       (37 )     (127 )     -       525  
Ending Balance   $ 1,195     $ 37     $ 3,665     $ 2,333     $ 976     $ -     $ 8,206  
                                                         
The Bancorp's allowance for loan losses impairment evaluation and loans receivables are summarized below at March 31, 2013:      
                                                         
Ending balance: individually evaluated for impairment   $ 10     $ -     $ 1,640     $ 328     $ 54     $ -     $ 2,032  
                                                         
Ending balance: collectively evaluated for impairment   $ 1,037     $ 17     $ 2,859     $ 1,386     $ 997     $ 19     $ 6,315  
                                                         
LOANS RECEIVABLES Ending balance   $ 156,933     $ 309     $ 183,045     $ 23,609     $ 63,997     $ 13,033     $ 440,926  
                                                         
Ending balance: individually evaluated for impairment   $ 741     $ -     $ 10,593     $ 6,319     $ 1,632     $ -     $ 19,285  
                                                         
Ending balance: collectively evaluated for impairment   $ 156,192     $ 309     $ 172,452     $ 17,290     $ 62,365     $ 13,033     $ 421,641  
                                                         
The Bancorp's allowance for loan losses impairment evaluation and loans 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  
                                                         
LOANS 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 March 31, 2013 and December 31, 2012:

 

    Corporate Credit Exposure - Credit Risk Portfolio By Creditworthiness Category  
(Dollars in thousands)   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   $ 17     $ 19     $ -     $ -     $ 5,306     $ 5,674     $ -     $ -  
3  Acceptable risk     122,318       110,416       11,382       15,585       41,974       45,202       13,033       8,869  
4  Pass/monitor     46,986       51,100       1,007       1,029       13,221       13,500       -       -  
5  Special mention (watch)     3,131       3,630       5,825       5,984       1,852       3,300       -       -  
6  Substandard     10,593       10,604       5,395       5,442       1,644       1,653       -       -  
7  Doubtful     -       -       -       -       -       -       -       -  
Total   $ 183,045     $ 175,769     $ 23,609     $ 28,040     $ 63,997     $ 69,329     $ 13,033     $ 8,869  

 

    Consumer Credit Exposure - Credit Risk Profile Based On Payment Activity  
(Dollars in thousands)   Residential Real Estate,
Including Home Equity		     Consumer Loans  
    2013     2012     2013     2012  
Performing   $ 154,737     $ 152,838     $ 309     $ 337  
Non-performing     2,196       1,789       -       10  
Total   $ 156,933     $ 154,627     $ 309     $ 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 		 
    March 31, 2013     March 31, 2012  
Troubled debt restructurings during the period:                                    
Residential real estate, including home equity     -     $ -     $ -       9     $ 764     $ 764  
Consumer loans     -       -       -       -       -       -  
Commercial real estate, construction & land development, and other dwellings     -       -       -       -       -       -  
Commercial participations purchased     -       -       -       -       -       -  
Commercial business loans     -       -       -       -       -       -  
Government loans     -       -       -       -       -       -
Schedule of Impaired Loans Receivable, Additional Information [Table Text Block]

The Bancorp's individually evaluated impaired loans are summarized below:

 

    As of March 31, 2013     For the three months ended
March 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   $ -     $ -     $ -     $ -     $ 6  
Commercial real estate, construction & land development, and other dwellings     820       820       -       681       73  
Commercial participations purchased     5,563       5,904       -       5,856       -  
Commercial business loans     531       761       -       972       3  
With an allowance recorded:                                        
Residential real estate, including home equity     741       741       10       777       -  
Commercial real estate, construction & land development, and other dwellings     9,773       9,857       1,640       10,079       7  
Commercial participations purchased     756       5,465       328       189       18  
Commercial business loans     1,101       1,315       54       802       1  
Total:                                        
Residential real estate, including home equity   $ 741     $ 741     $ 10     $ 777     $ 6  
Commercial real estate, construction & land development, and other dwellings   $ 10,593     $ 10,677     $ 1,640     $ 10,760     $ 80  
Commercial participations purchased   $ 6,319     $ 11,369     $ 328     $ 6,045     $ 18  
Commercial business loans   $ 1,632     $ 2,076     $ 54     $ 1,774     $ 4  

 

    As of December 31, 2012     For the three months ended
March 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   $ -     $ -     $ -     $ 13     $ -  
Commercial real estate, construction & land development, and other dwellings     591       591       -       1,654       1  
Commercial participations purchased     6,378       11,047       -       2,714       -  
Commercial business loans     727       1,000       -       437       8  
With an allowance recorded:                                        
Residential real estate, including home equity     692       692       9       420       -  
Commercial real estate, construction & land development, and other dwellings     10,187       10,271       1,783       8,782       69  
Commercial participations purchased     -       -       -       7,746       -  
Commercial business loans     1,305       1,305       209       991       21  
Total:                                        
Residential real estate, including home equity   $ 692     $ 692     $ 9     $ 433     $ -  
Commercial real estate, construction & land development, and other dwellings   $ 10,778     $ 10,862     $ 1,783     $ 10,436     $ 70  
Commercial participations purchased   $ 6,378     $ 11,047     $ -     $ 10,460     $ -  
Commercial business loans   $ 2,032     $ 2,305     $ 209     $ 1,428     $ 29  
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		  
March 31, 2013                                                        
Residential real estate, including home equity   $ 3,266     $ 456     $ 1,811     $ 5,533     $ 151,400     $ 156,933     $ 5  
Consumer loans     -       2       -       2       307       309       -  
Commercial real estate, construction & land development, and other dwellings     3,314       227       2,697       6,238       176,807       183,045       -  
Commercial participations purchased     -       -       5,395       5,395       18,214       23,609       -  
Commercial business loans     1,946       -       1,141       3,087       60,910       63,997       -  
Government loans     -       -       -       -       13,033       13,033       -  
Total   $ 8,526     $ 685     $ 11,044     $ 20,255     $ 420,671     $ 440,926     $ 5  
                                                         
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)   March 31,
2013		     December 31,
2012		  
Residential real estate, including home equity   $ 2,196     $ 1,846  
Consumer loans     -       10  
Commercial real estate, construction & land development, and other dwellings     3,236       2,311  
Commercial participations purchased     5,395       5,442  
Commercial business loans     1,633       1,644  
Government loans     -       -  
Total   $ 12,460     $ 11,253