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Note 4 - Loans/Leases Receivable | 12 Months Ended
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Dec. 31, 2013
Receivables [Abstract] |
Financing Receivables [Text Block] | Note 4. Loans/Leases Receivable The composition of the loan/lease portfolio as of December 31, 2013 and 2012 is presented as follows:
|  | 2013 |  |  | 2012 |
Commercial and industrial loans |  | $ | 431,688,129 |  |  | $ | 394,244,252 |
Commercial real estate loans |  |  |  |  |  |  |  |
Owner-occupied commercial real estate |  |  | 261,215,912 |  |  |  | 204,911,308 |
Commercial construction, land development, and other land |  |  | 57,844,902 |  |  |  | 44,962,381 |
Other non owner-occupied commercial real estate |  |  | 352,692,115 |  |  |  | 344,105,550 |
|  |  | 671,752,929 |  |  |  | 593,979,239 |
Direct financing leases * |  |  | 128,901,442 |  |  |  | 103,685,656 |
Residential real estate loans ** |  |  | 147,356,323 |  |  |  | 115,581,573 |
Installment and other consumer loans |  |  | 76,033,810 |  |  |  | 76,720,514 |
|  |  | 1,455,732,633 |  |  |  | 1,284,211,234 |
Plus deferred loan/lease orgination costs, net of fees |  |  | 4,546,925 |  |  |  | 3,176,405 |
|  |  | 1,460,279,558 |  |  |  | 1,287,387,639 |
Less allowance for estimated losses on loans/leases |  |  | (21,448,048 | ) |  |  | (19,925,204 | )
|  | $ | 1,438,831,510 |  |  | $ | 1,267,462,435 |
* Direct financing leases: |  |  |  |  |  |  |  |
Net minimum lease payments to be received |  | $ | 145,662,254 |  |  | $ | 117,719,380 |
Estimated unguaranteed residual values of leased assets |  |  | 1,694,499 |  |  |  | 1,095,848 |
Unearned lease/residual income |  |  | (18,455,311 | ) |  |  | (15,129,572 | )
|  |  | 128,901,442 |  |  |  | 103,685,656 |
Plus deferred lease origination costs, net of fees |  |  | 4,814,183 |  |  |  | 3,907,140 |
|  |  | 133,715,625 |  |  |  | 107,592,796 |
Less allowance for estimated losses on leases |  |  | (2,517,217 | ) |  |  | (1,990,395 | )
|  | $ | 131,198,408 |  |  | $ | 105,602,401 |
Management performs an evaluation of the estimated unguaranteed residual values of leased assets on an annual basis, at a minimum. The evaluation consists of discussions with reputable and current vendors and management’s expertise and understanding of the current states of particular industries to determine informal valuations of the equipment. As necessary and where available, management will utilize valuations by independent appraisers. The large majority of leases with residual values contain a lease options rider which requires the lessee to pay the residual value directly, finance the payment of the residual value, or extend the lease term to pay the residual value. In these cases, the residual value is protected and the risk of loss is minimal. There were no losses related to residual values during the years ended December 31, 2013, 2012, and 2011. At December 31, 2013, the Company had 33 leases remaining with residual values totaling $1,694,499 that were not protected with a lease end options rider. At December 31, 2012, the Company had 34 leases remaining with residual values totaling $1,095,848 that were not protected with a lease end options rider. Management has performed specific evaluations of these residual values and determined that the valuations are appropriate. **Includes residential real estate loans held for sale totaling $1,358,290 and $4,577,233 as of December 31, 2013 and 2012, respectively. The aging of the loan/lease portfolio by classes of loans/leases as of December 31, 2013 and 2012 is presented as follows:
|  | 2013 |
Classes of Loans/Leases |  | Current |  |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | Accruing Past Due 90 Days or More |  |  | Nonaccrual Loans/Leases |  |  | Total |
Commercial and Industrial |  | $ | 429,557,699 |  |  | $ | 199,949 |  |  | $ | 185,500 |  |  | $ | - |  |  | $ | 1,744,981 |  |  | $ | 431,688,129 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 258,557,660 |  |  |  | 465,418 |  |  |  | 993,163 |  |  |  | 60,286 |  |  |  | 1,139,385 |  |  |  | 261,215,912 |
Commercial Construction, Land Development, and Other Land |  |  | 56,301,186 |  |  |  | 358,626 |  |  |  | - |  |  |  | - |  |  |  | 1,185,090 |  |  |  | 57,844,902 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 341,743,730 |  |  |  | 476,877 |  |  |  | 151,017 |  |  |  | - |  |  |  | 10,320,491 |  |  |  | 352,692,115 |
Direct Financing Leases |  |  | 126,878,515 |  |  |  | 714,464 |  |  |  | 414,005 |  |  |  | - |  |  |  | 894,458 |  |  |  | 128,901,442 |
Residential Real Estate |  |  | 142,353,936 |  |  |  | 3,088,516 |  |  |  | 275,262 |  |  |  | 20,126 |  |  |  | 1,618,483 |  |  |  | 147,356,323 |
Installment and Other Consumer |  |  | 74,811,489 |  |  |  | 127,082 |  |  |  | 116,468 |  |  |  | 3,762 |  |  |  | 975,009 |  |  |  | 76,033,810 |
|  | $ | 1,430,204,215 |  |  | $ | 5,430,932 |  |  | $ | 2,135,415 |  |  | $ | 84,174 |  |  | $ | 17,877,897 |  |  | $ | 1,455,732,633 |
As a percentage of total loan/lease portfolio |  |  | 98.25 | % |  |  | 0.37 | % |  |  | 0.15 | % |  |  | 0.01 | % |  |  | 1.23 | % |  |  | 100.00 | %
|  | 2012 |
Classes of Loans/Leases |  | Current |  |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | Accruing Past Due 90 Days or More |  |  | Nonaccrual Loans/Leases |  |  | Total |
Commercial and Industrial |  | $ | 388,825,307 |  |  | $ | 3,724,506 |  |  | $ | 9,940 |  |  | $ | 120,000 |  |  | $ | 1,564,499 |  |  | $ | 394,244,252 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 204,141,070 |  |  |  | 142,993 |  |  |  | - |  |  |  | - |  |  |  | 627,245 |  |  |  | 204,911,308 |
Commercial Construction, Land Development, and Other Land |  |  | 42,180,819 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,781,562 |  |  |  | 44,962,381 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 332,644,532 |  |  |  | 86,986 |  |  |  | 1,111,856 |  |  |  | - |  |  |  | 10,262,176 |  |  |  | 344,105,550 |
Direct Financing Leases |  |  | 101,635,084 |  |  |  | 877,210 |  |  |  | 174,560 |  |  |  | - |  |  |  | 998,802 |  |  |  | 103,685,656 |
Residential Real Estate |  |  | 111,993,859 |  |  |  | 2,254,730 |  |  |  | 283,466 |  |  |  | - |  |  |  | 1,049,518 |  |  |  | 115,581,573 |
Installment and Other Consumer |  |  | 75,711,203 |  |  |  | 301,025 |  |  |  | 20,112 |  |  |  | 39,481 |  |  |  | 648,693 |  |  |  | 76,720,514 |
|  | $ | 1,257,131,874 |  |  | $ | 7,387,450 |  |  | $ | 1,599,934 |  |  | $ | 159,481 |  |  | $ | 17,932,495 |  |  | $ | 1,284,211,234 |
As a percentage of total loan/lease portfolio |  |  | 97.89 | % |  |  | 0.58 | % |  |  | 0.12 | % |  |  | 0.01 | % |  |  | 1.40 | % |  |  | 100.00 | %
Nonperforming loans/leases by classes of loans/leases as of December 31, 2013 and 2012 is presented as follows:
|  | 2013 |
Classes of Loans/Leases |  | Accruing Past Due 90 Days or More |  |  | Nonaccrual Loans/Leases * |  |  | Troubled Debt Restructurings - Accruing |  |  | Total Nonperforming Loans/Leases |  |  | Percentage of Total Nonperforming Loans/Leases |
Commercial and Industrial |  | $ | - |  |  | $ | 1,744,981 |  |  | $ | 878,381 |  |  | $ | 2,623,362 |  |  |  | 12.81 | %
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Com mercial Real Estate |  |  | 60,286 |  |  |  | 1,139,385 |  |  |  | - |  |  |  | 1,199,671 |  |  |  | 5.86 | %
Commercial Construction, Land Development, and Other Land |  |  | - |  |  |  | 1,185,090 |  |  |  | - |  |  |  | 1,185,090 |  |  |  | 5.79 | %
Other Non Owner-Occupied Commercial Real Estate |  |  | - |  |  |  | 10,320,491 |  |  |  | 905,205 |  |  |  | 11,225,696 |  |  |  | 54.80 | %
Direct Financing Leases |  |  | - |  |  |  | 894,458 |  |  |  | - |  |  |  | 894,458 |  |  |  | 4.37 | %
Residential Real Estate |  |  | 20,126 |  |  |  | 1,618,483 |  |  |  | 371,995 |  |  |  | 2,010,604 |  |  |  | 9.82 | %
Installment and Other Consumer |  |  | 3,762 |  |  |  | 975,009 |  |  |  | 367,000 |  |  |  | 1,345,771 |  |  |  | 6.57 | %
|  | $ | 84,174 |  |  | $ | 17,877,897 |  |  | $ | 2,522,581 |  |  | $ | 20,484,652 |  |  |  | 100.00 | %
*At December 31, 2013, nonaccrual loans/leases included $10,890,785 of troubled debt restructurings, including $77,072 in commercial and industrial loans, $10,077,501 in commercial real estate loans, $446,996 in residential real estate loans, and $289,216 in installment loans.
|  | 2012 |
Classes of Loans/Leases |  | Accruing Past Due 90 Days or More |  |  | Nonaccrual Loans/Leases * |  |  | Troubled Debt Restructurings - Accruing |  |  | Total Nonperforming Loans/Leases |  |  | Percentage of Total Nonperforming Loans/Leases |
Commercial and Industrial |  | $ | 120,000 |  |  | $ | 1,564,499 |  |  | $ | 184,084 |  |  | $ | 1,868,583 |  |  |  | 7.36 | %
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | - |  |  |  | 627,245 |  |  |  | - |  |  |  | 627,245 |  |  |  | 2.47 | %
Commercial Construction, Land Development, and Other Land |  |  | - |  |  |  | 2,781,562 |  |  |  | 1,016,023 |  |  |  | 3,797,585 |  |  |  | 14.96 | %
Other Non Owner-Occupied Commercial Real Estate |  |  | - |  |  |  | 10,262,176 |  |  |  | 5,820,765 |  |  |  | 16,082,941 |  |  |  | 63.34 | %
Direct Financing Leases |  |  | - |  |  |  | 998,802 |  |  |  | - |  |  |  | 998,802 |  |  |  | 3.93 | %
Residential Real Estate |  |  | - |  |  |  | 1,049,518 |  |  |  | 167,739 |  |  |  | 1,217,257 |  |  |  | 4.79 | %
Installment and Other Consumer |  |  | 39,481 |  |  |  | 648,693 |  |  |  | 110,982 |  |  |  | 799,156 |  |  |  | 3.15 | %
|  | $ | 159,481 |  |  | $ | 17,932,495 |  |  | $ | 7,299,593 |  |  | $ | 25,391,569 |  |  |  | 100.00 | %
**At December 31, 2012, nonaccrual loans/leases included $5,658,781 of troubled debt restructurings, including $99,804 in commercial and industrial loans, $5,173,589 in commercial real estate loans, $64,722 in residential real estate loans, and $320,666 in installment loans. Changes in the allowance for estimated losses on loans/leases by portfolio segment for the years ended December 31, 2013, 2012, and 2011 are presented as follows:
|  | Year Ended December 31, 2013 |
|  | Commercial and Industrial |  |  | Commercial Real Estate |  |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Balance, beginning |  | $ | 4,531,545 |  |  | $ | 11,069,502 |  |  | $ | 1,990,395 |  |  | $ | 1,070,328 |  |  | $ | 1,263,434 |  |  | $ | 19,925,204 |
Provisions charged to expense |  |  | 1,453,455 |  |  |  | 2,635,327 |  |  |  | 1,431,246 |  |  |  | 471,060 |  |  |  | (60,668 | ) |  |  | 5,930,420 |
Loans/leases charged off |  |  | (962,607 | ) |  |  | (3,573,006 | ) |  |  | (916,836 | ) |  |  | (162,010 | ) |  |  | (229,447 | ) |  |  | (5,843,906 | )
Recoveries on loans/leases previously charged off |  |  | 626,381 |  |  |  | 573,611 |  |  |  | 12,412 |  |  |  | 16,471 |  |  |  | 207,455 |  |  |  | 1,436,330 |
Balance, ending |  | $ | 5,648,774 |  |  | $ | 10,705,434 |  |  | $ | 2,517,217 |  |  | $ | 1,395,849 |  |  | $ | 1,180,774 |  |  | $ | 21,448,048 |
|  | Year Ended December 31, 2012 |
|  | Commercial and Industrial |  |  | Commercial Real Estate |  |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Balance, beginning |  | $ | 4,878,006 |  |  | $ | 10,596,958 |  |  | $ | 1,339,496 |  |  | $ | 704,946 |  |  | $ | 1,269,856 |  |  | $ | 18,789,262 |
Provisions charged to expense |  |  | (327,045 | ) |  |  | 2,482,327 |  |  |  | 1,313,767 |  |  |  | 370,140 |  |  |  | 531,578 |  |  |  | 4,370,767 |
Loans/leases charged off |  |  | (682,877 | ) |  |  | (2,232,004 | ) |  |  | (739,755 | ) |  |  | (4,758 | ) |  |  | (717,035 | ) |  |  | (4,376,429 | )
Recoveries on loans/leases previously charged off |  |  | 663,461 |  |  |  | 222,221 |  |  |  | 76,887 |  |  |  | - |  |  |  | 179,035 |  |  |  | 1,141,604 |
Balance, ending |  | $ | 4,531,545 |  |  | $ | 11,069,502 |  |  | $ | 1,990,395 |  |  | $ | 1,070,328 |  |  | $ | 1,263,434 |  |  | $ | 19,925,204 |
|  | Year Ended December 31, 2011 |
|  | Commercial and Industrial |  |  | Commercial Real Estate |  |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Balance, beginning |  | $ | 7,548,922 |  |  | $ | 9,087,315 |  |  | $ | 1,530,572 |  |  | $ | 748,028 |  |  | $ | 1,449,819 |  |  | $ | 20,364,656 |
Provisions charged to expense |  |  | 256,945 |  |  |  | 4,759,003 |  |  |  | 907,014 |  |  |  | (4,147 | ) |  |  | 697,199 |  |  |  | 6,616,014 |
Loans/leases charged off |  |  | (3,262,742 | ) |  |  | (3,590,868 | ) |  |  | (1,100,886 | ) |  |  | (38,935 | ) |  |  | (1,068,320 | ) |  |  | (9,061,751 | )
Recoveries on loans/leases previously charged off |  |  | 334,881 |  |  |  | 341,508 |  |  |  | 2,796 |  |  |  | - |  |  |  | 191,158 |  |  |  | 870,343 |
Balance, ending |  | $ | 4,878,006 |  |  | $ | 10,596,958 |  |  | $ | 1,339,496 |  |  | $ | 704,946 |  |  | $ | 1,269,856 |  |  | $ | 18,789,262 |
The allowance for estimated losses on loans/leases by impairment evaluation and by portfolio segment as of December 31, 2013 and 2012 is presented as follows:
|  | 2013 |
|  | Commercial and Industrial |  |  | Commercial Real Estate |  |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Allowance for loans/leases individually evaluated for impairment |  | $ | 927,453 |  |  | $ | 3,174,704 |  |  | $ | 192,847 |  |  | $ | 246,266 |  |  | $ | 467,552 |  |  | $ | 5,008,822 |
Allowance for loans/leases collectively evaluated for impairment |  |  | 4,721,321 |  |  |  | 7,530,730 |  |  |  | 2,324,370 |  |  |  | 1,149,583 |  |  |  | 713,222 |  |  |  | 16,439,226 |
|  | $ | 5,648,774 |  |  | $ | 10,705,434 |  |  | $ | 2,517,217 |  |  | $ | 1,395,849 |  |  | $ | 1,180,774 |  |  | $ | 21,448,048 |
Loans/leases individually evaluated for impairment |  | $ | 1,761,850 |  |  | $ | 12,956,915 |  |  | $ | 894,458 |  |  | $ | 2,116,747 |  |  | $ | 1,350,450 |  |  | $ | 19,080,420 |
Loans/leases collectively evaluated for impairment |  |  | 429,926,279 |  |  |  | 658,796,014 |  |  |  | 128,006,984 |  |  |  | 145,239,576 |  |  |  | 74,683,360 |  |  |  | 1,436,652,213 |
|  | $ | 431,688,129 |  |  | $ | 671,752,929 |  |  | $ | 128,901,442 |  |  | $ | 147,356,323 |  |  | $ | 76,033,810 |  |  | $ | 1,455,732,633 |
Allowance as a percentage of loans/leases individually evaluated for impairment |  |  | 52.64 | % |  |  | 24.50 | % |  |  | 21.56 | % |  |  | 11.63 | % |  |  | 34.62 | % |  |  | 26.25 | %
Allowance as a percentage of loans/leases collectively evaluated for impairment |  |  | 1.10 | % |  |  | 1.14 | % |  |  | 1.82 | % |  |  | 0.79 | % |  |  | 0.95 | % |  |  | 1.14 | %
Total allowance as a percentage of total loans/leaess |  |  | 1.31 | % |  |  | 1.59 | % |  |  | 1.95 | % |  |  | 0.95 | % |  |  | 1.55 | % |  |  | 1.47 | %
|  | 2012 |
|  | Commercial and Industrial |  |  | Commercial Real Estate |  |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Allowance for loans/leases individually evaluated for impairment |  | $ | 280,170 |  |  | $ | 4,005,042 |  |  | $ | 125,000 |  |  | $ | 105,565 |  |  | $ | 71,992 |  |  | $ | 4,587,769 |
Allowance for loans/leases collectively evaluated for impairment |  |  | 4,251,375 |  |  |  | 7,064,460 |  |  |  | 1,865,395 |  |  |  | 964,763 |  |  |  | 1,191,442 |  |  |  | 15,337,435 |
|  | $ | 4,531,545 |  |  | $ | 11,069,502 |  |  | $ | 1,990,395 |  |  | $ | 1,070,328 |  |  | $ | 1,263,434 |  |  | $ | 19,925,204 |
Loans/leases individually evaluated for impairment |  | $ | 1,006,952 |  |  | $ | 20,383,846 |  |  | $ | 998,802 |  |  | $ | 1,217,256 |  |  | $ | 687,355 |  |  | $ | 24,294,211 |
Loans/leases collectively evaluated for impairment |  |  | 393,237,300 |  |  |  | 573,595,393 |  |  |  | 102,686,854 |  |  |  | 114,364,317 |  |  |  | 76,033,159 |  |  |  | 1,259,917,023 |
|  | $ | 394,244,252 |  |  | $ | 593,979,239 |  |  | $ | 103,685,656 |  |  | $ | 115,581,573 |  |  | $ | 76,720,514 |  |  | $ | 1,284,211,234 |
Allowance as a percentage of loans/leases individually evaluated for impairment |  |  | 27.82 | % |  |  | 19.65 | % |  |  | 12.51 | % |  |  | 8.67 | % |  |  | 10.47 | % |  |  | 18.88 | %
Allowance as a percentage of loans/leases collectively evaluated for impairment |  |  | 1.08 | % |  |  | 1.23 | % |  |  | 1.82 | % |  |  | 0.84 | % |  |  | 1.57 | % |  |  | 1.22 | %
Total allowance as a percentage of total loans/leaess |  |  | 1.15 | % |  |  | 1.86 | % |  |  | 1.92 | % |  |  | 0.93 | % |  |  | 1.65 | % |  |  | 1.55 | %
Information for impaired loans/leases is presented in the tables below. The recorded investment represents customer balances net of any partial charge-offs recognized on the loan/lease. The unpaid principal balance represents the recorded balance outstanding on the loan/lease prior to any partial charge-offs. Loans/leases, by classes of financing receivable, considered to be impaired as of and for the years ended December 31, 2013, 2012, and 2011 is presented as follows:
|  | 2013 |
Classes of Loans/Leases |  | Recorded Investment |  |  | Unpaid Principal Balance |  |  | Related Allowance |  |  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Interest Income Recognized for Cash Payments Received |
Impaired Loans/Leases with No Specific Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 492,622 |  |  | $ | 568,951 |  |  | $ | - |  |  | $ | 747,134 |  |  | $ | 7,749 |  |  | $ | 7,749 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 392,542 |  |  |  | 392,542 |  |  |  | - |  |  |  | 1,881,823 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 1,943,168 |  |  |  | 2,054,368 |  |  |  | - |  |  |  | 2,666,039 |  |  |  | - |  |  |  | - |
Other Non Owner-Occupied Commercial Real Estate |  |  | 1,790,279 |  |  |  | 1,902,279 |  |  |  | - |  |  |  | 3,869,493 |  |  |  | 58,534 |  |  |  | 58,534 |
Direct Financing Leases |  |  | 557,469 |  |  |  | 557,469 |  |  |  | - |  |  |  | 802,825 |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 1,071,927 |  |  |  | 1,071,927 |  |  |  | - |  |  |  | 1,010,027 |  |  |  | 4,235 |  |  |  | 4,235 |
Installment and Other Consumer |  |  | 509,667 |  |  |  | 509,667 |  |  |  | - |  |  |  | 606,282 |  |  |  | 4,464 |  |  |  | 4,464 |
|  | $ | 6,757,674 |  |  | $ | 7,057,203 |  |  | $ | - |  |  | $ | 11,583,623 |  |  | $ | 74,982 |  |  | $ | 74,982 |
Impaired Loans/Leases with Specific Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 1,269,228 |  |  | $ | 1,956,755 |  |  | $ | 927,453 |  |  | $ | 1,222,449 |  |  | $ | 33,703 |  |  | $ | 33,703 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 159,247 |  |  |  | 159,247 |  |  |  | 67,498 |  |  |  | 87,035 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 888,547 |  |  |  | 1,011,747 |  |  |  | 503,825 |  |  |  | 1,137,489 |  |  |  | 10,862 |  |  |  | 10,862 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 7,783,132 |  |  |  | 8,488,414 |  |  |  | 2,603,381 |  |  |  | 7,426,299 |  |  |  | 45,926 |  |  |  | 45,926 |
Direct Financing Leases |  |  | 336,989 |  |  |  | 336,989 |  |  |  | 192,847 |  |  |  | 97,846 |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 1,044,820 |  |  |  | 1,044,820 |  |  |  | 246,266 |  |  |  | 641,217 |  |  |  | 1,883 |  |  |  | 1,883 |
Installment and Other Consumer |  |  | 840,783 |  |  |  | 840,783 |  |  |  | 467,552 |  |  |  | 640,557 |  |  |  | - |  |  |  | - |
|  | $ | 12,322,746 |  |  | $ | 13,838,755 |  |  | $ | 5,008,822 |  |  | $ | 11,252,892 |  |  | $ | 92,374 |  |  | $ | 92,374 |
Total Impaired Loans/Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 1,761,850 |  |  | $ | 2,525,706 |  |  | $ | 927,453 |  |  | $ | 1,969,583 |  |  | $ | 41,452 |  |  | $ | 41,452 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 551,789 |  |  |  | 551,789 |  |  |  | 67,498 |  |  |  | 1,968,858 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 2,831,715 |  |  |  | 3,066,115 |  |  |  | 503,825 |  |  |  | 3,803,528 |  |  |  | 10,862 |  |  |  | 10,862 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 9,573,411 |  |  |  | 10,390,693 |  |  |  | 2,603,381 |  |  |  | 11,295,792 |  |  |  | 104,460 |  |  |  | 104,460 |
Direct Financing Leases |  |  | 894,458 |  |  |  | 894,458 |  |  |  | 192,847 |  |  |  | 900,671 |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 2,116,747 |  |  |  | 2,116,747 |  |  |  | 246,266 |  |  |  | 1,651,244 |  |  |  | 6,118 |  |  |  | 6,118 |
Installment and Other Consumer |  |  | 1,350,450 |  |  |  | 1,350,450 |  |  |  | 467,552 |  |  |  | 1,246,839 |  |  |  | 4,464 |  |  |  | 4,464 |
|  | $ | 19,080,420 |  |  | $ | 20,895,958 |  |  | $ | 5,008,822 |  |  | $ | 22,836,515 |  |  | $ | 167,356 |  |  | $ | 167,356 |
Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management’s current estimates.
|  | 2012 |
Classes of Loans/Leases |  | Recorded Investment |  |  | Unpaid Principal Balance |  |  | Related Allowance |  |  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Interest Income Recognized for Cash Payments Received |
Impaired Loans/Leases with No Specific Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 438,355 |  |  | $ | 1,203,710 |  |  | $ | - |  |  | $ | 757,286 |  |  | $ | 7,910 |  |  | $ | 7,910 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 503,321 |  |  |  | 503,321 |  |  |  | - |  |  |  | 624,766 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 678,523 |  |  |  | 678,523 |  |  |  | - |  |  |  | 3,359,435 |  |  |  | 3,549 |  |  |  | 3,549 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 495,702 |  |  |  | 495,702 |  |  |  | - |  |  |  | 5,288,820 |  |  |  | 2,017 |  |  |  | 2,017 |
Direct Financing Leases |  |  | 777,645 |  |  |  | 777,645 |  |  |  | - |  |  |  | 871,076 |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 944,211 |  |  |  | 1,127,242 |  |  |  | - |  |  |  | 1,050,160 |  |  |  | 6,728 |  |  |  | 6,728 |
Installment and Other Consumer |  |  | 534,368 |  |  |  | 534,368 |  |  |  | - |  |  |  | 815,720 |  |  |  | 629 |  |  |  | 629 |
|  | $ | 4,372,125 |  |  | $ | 5,320,511 |  |  | $ | - |  |  | $ | 12,767,263 |  |  | $ | 20,833 |  |  | $ | 20,833 |
Impaired Loans/Leases with Specific Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 568,597 |  |  | $ | 590,849 |  |  | $ | 280,170 |  |  | $ | 499,036 |  |  | $ | - |  |  | $ | - |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 3,967,583 |  |  |  | 3,967,583 |  |  |  | 1,105,795 |  |  |  | 2,311,845 |  |  |  | 5,749 |  |  |  | 5,749 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 14,738,717 |  |  |  | 14,991,676 |  |  |  | 2,899,247 |  |  |  | 10,949,295 |  |  |  | 308,339 |  |  |  | 308,339 |
Direct Financing Leases |  |  | 221,157 |  |  |  | 221,157 |  |  |  | 125,000 |  |  |  | 90,610 |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 273,045 |  |  |  | 273,045 |  |  |  | 105,565 |  |  |  | 258,677 |  |  |  | - |  |  |  | - |
Installment and Other Consumer |  |  | 152,987 |  |  |  | 152,987 |  |  |  | 71,992 |  |  |  | 101,075 |  |  |  | - |  |  |  | - |
|  | $ | 19,922,086 |  |  | $ | 20,197,297 |  |  | $ | 4,587,769 |  |  | $ | 14,210,538 |  |  | $ | 314,088 |  |  | $ | 314,088 |
Total Impaired Loans/Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 1,006,952 |  |  | $ | 1,794,559 |  |  | $ | 280,170 |  |  | $ | 1,256,322 |  |  | $ | 7,910 |  |  | $ | 7,910 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 503,321 |  |  |  | 503,321 |  |  |  | - |  |  |  | 624,766 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 4,646,106 |  |  |  | 4,646,106 |  |  |  | 1,105,795 |  |  |  | 5,671,280 |  |  |  | 9,298 |  |  |  | 9,298 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 15,234,419 |  |  |  | 15,487,378 |  |  |  | 2,899,247 |  |  |  | 16,238,115 |  |  |  | 310,356 |  |  |  | 310,356 |
Direct Financing Leases |  |  | 998,802 |  |  |  | 998,802 |  |  |  | 125,000 |  |  |  | 961,686 |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 1,217,256 |  |  |  | 1,400,287 |  |  |  | 105,565 |  |  |  | 1,308,837 |  |  |  | 6,728 |  |  |  | 6,728 |
Installment and Other Consumer |  |  | 687,355 |  |  |  | 687,355 |  |  |  | 71,992 |  |  |  | 916,795 |  |  |  | 629 |  |  |  | 629 |
|  | $ | 24,294,211 |  |  | $ | 25,517,808 |  |  | $ | 4,587,769 |  |  | $ | 26,977,801 |  |  | $ | 334,921 |  |  | $ | 334,921 |
Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management’s current estimates. Note 4. Loans/Leases Receivable (continued)
|  | 2011 |
Classes of Loans/Leases |  | Recorded Investment |  |  | Unpaid Principal Balance |  |  | Related Allowance |  |  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Interest Income Recognized for Cash Payments Received |
Impaired Loans/Leases with No Specific Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 360,947 |  |  | $ | 979,901 |  |  | $ | - |  |  | $ | 3,873,371 |  |  | $ | - |  |  | $ | - |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 736,610 |  |  |  | 736,610 |  |  |  | - |  |  |  | 1,909,754 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,979,950 |  |  |  | - |  |  |  | - |
Other Non Owner-Occupied Commercial Real Estate |  |  | 3,936,826 |  |  |  | 3,986,820 |  |  |  | - |  |  |  | 5,568,776 |  |  |  | - |  |  |  | - |
Direct Financing Leases |  |  | 1,094,178 |  |  |  | 1,094,178 |  |  |  | - |  |  |  | 1,487,570 |  |  |  | 81,921 |  |  |  | 81,921 |
Residential Real Estate |  |  | 788,685 |  |  |  | 862,298 |  |  |  | - |  |  |  | 892,480 |  |  |  | - |  |  |  | - |
Installment and Other Consumer |  |  | 593,987 |  |  |  | 593,987 |  |  |  | - |  |  |  | 821,889 |  |  |  | - |  |  |  | - |
|  | $ | 7,511,233 |  |  | $ | 8,253,794 |  |  | $ | - |  |  | $ | 17,533,790 |  |  | $ | 81,921 |  |  | $ | 81,921 |
Impaired Loans/Leases with Specific Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 1,791,908 |  |  | $ | 1,791,908 |  |  | $ | 903,187 |  |  | $ | 1,175,105 |  |  | $ | 36,984 |  |  | $ | 36,984 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 217,059 |  |  |  | 217,059 |  |  |  | 47,911 |  |  |  | 121,201 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 9,051,455 |  |  |  | 9,051,455 |  |  |  | 3,002,450 |  |  |  | 4,334,241 |  |  |  | 16,249 |  |  |  | 16,249 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 10,339,415 |  |  |  | 10,839,415 |  |  |  | 1,247,377 |  |  |  | 5,595,044 |  |  |  | 11,623 |  |  |  | 11,623 |
Direct Financing Leases |  |  | 212,485 |  |  |  | 212,485 |  |  |  | 66,675 |  |  |  | 138,127 |  |  |  | 5,244 |  |  |  | 5,244 |
Residential Real Estate |  |  | 344,789 |  |  |  | 344,789 |  |  |  | 55,884 |  |  |  | 282,020 |  |  |  | - |  |  |  | - |
Installment and Other Consumer |  |  | 390,819 |  |  |  | 390,819 |  |  |  | 22,819 |  |  |  | 51,871 |  |  |  | - |  |  |  | - |
|  | $ | 22,347,930 |  |  | $ | 22,847,930 |  |  | $ | 5,346,303 |  |  | $ | 11,697,609 |  |  | $ | 70,100 |  |  | $ | 70,100 |
Total Impaired Loans/Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 2,152,855 |  |  | $ | 2,771,809 |  |  | $ | 903,187 |  |  | $ | 5,048,476 |  |  | $ | 36,984 |  |  | $ | 36,984 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 953,669 |  |  |  | 953,669 |  |  |  | 47,911 |  |  |  | 2,030,955 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 9,051,455 |  |  |  | 9,051,455 |  |  |  | 3,002,450 |  |  |  | 7,314,191 |  |  |  | 16,249 |  |  |  | 16,249 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 14,276,241 |  |  |  | 14,826,235 |  |  |  | 1,247,377 |  |  |  | 11,163,820 |  |  |  | 11,623 |  |  |  | 11,623 |
Direct Financing Leases |  |  | 1,306,663 |  |  |  | 1,306,663 |  |  |  | 66,675 |  |  |  | 1,625,697 |  |  |  | 87,165 |  |  |  | 87,165 |
Residential Real Estate |  |  | 1,133,474 |  |  |  | 1,207,087 |  |  |  | 55,884 |  |  |  | 1,174,500 |  |  |  | - |  |  |  | - |
Installment and Other Consumer |  |  | 984,806 |  |  |  | 984,806 |  |  |  | 22,819 |  |  |  | 873,760 |  |  |  | - |  |  |  | - |
|  | $ | 29,859,163 |  |  | $ | 31,101,724 |  |  | $ | 5,346,303 |  |  | $ | 29,231,399 |  |  | $ | 152,021 |  |  | $ | 152,021 |
Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management’s current estimates. For commercial and industrial and commercial real estate loans, the Company’s credit quality indicator is internally assigned risk ratings. Each commercial loan is assigned a risk rating upon origination. The risk rating is reviewed every 15 months, at a minimum, and on as needed basis depending on the specific circumstances of the loan. See Note 1 for further discussion on the Company’s risk ratings. For direct financing leases, residential real estate loans, and installment and other consumer loans, the Company’s credit quality indicator is performance determined by delinquency status. Delinquency status is updated daily by the Company’s loan system. For each class of financing receivable, the following presents the recorded investment by credit quality indicator as of December 31, 2013 and 2012:
|  | 2013 |
|  |  |  |  |  | Commercial Real Estate |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Non Owner-Occupied |  |  |  |  |
Internally Assigned Risk Rating |  | Commercial and Industrial |  |  | Owner-Occupied Commercial Real Estate |  |  | Commercial Construction, Land Development, and Other Land |  |  | Other Commercial Real Estate |  |  | Total |
Pass (Ratings 1 through 5) |  | $ | 407,294,743 |  |  | $ | 250,028,731 |  |  | $ | 51,868,919 |  |  | $ | 326,168,882 |  |  | $ | 1,035,361,275 |
Special Mention (Rating 6) |  |  | 11,355,713 |  |  |  | 8,318,232 |  |  |  | 1,588,086 |  |  |  | 3,310,017 |  |  |  | 24,572,048 |
Substandard (Rating 7) |  |  | 13,037,673 |  |  |  | 2,868,949 |  |  |  | 4,387,897 |  |  |  | 23,213,216 |  |  |  | 43,507,735 |
Doubtful (Rating 8) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 431,688,129 |  |  | $ | 261,215,912 |  |  | $ | 57,844,902 |  |  | $ | 352,692,115 |  |  | $ | 1,103,441,058 |
|  |  |  |  |  | 2013 |
Delinquency Status * |  |  |  |  |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Performing |  |  |  |  |  | $ | 128,006,984 |  |  | $ | 145,345,719 |  |  | $ | 74,688,039 |  |  | $ | 348,040,742 |
Nonperforming |  |  |  |  |  |  | 894,458 |  |  |  | 2,010,604 |  |  |  | 1,345,771 |  |  |  | 4,250,833 |
|  |  |  |  |  | $ | 128,901,442 |  |  | $ | 147,356,323 |  |  | $ | 76,033,810 |  |  | $ | 352,291,575 |
|  | 2012 |
|  |  |  |  |  | Commercial Real Estate |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Non Owner-Occupied |  |  |  |  |
Internally Assigned Risk Rating |  | Commercial and Industrial |  |  | Owner-Occupied Commercial Real Estate |  |  | Commercial Construction, Land Development, and Other Land |  |  | Other Commercial Real Estate |  |  | Total |
Pass (Ratings 1 through 5) |  | $ | 371,856,380 |  |  | $ | 195,567,523 |  |  | $ | 38,125,793 |  |  | $ | 312,370,393 |  |  | $ | 917,920,089 |
Special Mention (Rating 6) |  |  | 8,008,866 |  |  |  | 5,488,602 |  |  |  | 1,238,152 |  |  |  | 7,319,902 |  |  |  | 22,055,522 |
Substandard (Rating 7) |  |  | 14,379,006 |  |  |  | 3,855,183 |  |  |  | 5,598,436 |  |  |  | 24,415,255 |  |  |  | 48,247,880 |
Doubtful (Rating 8) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 394,244,252 |  |  | $ | 204,911,308 |  |  | $ | 44,962,381 |  |  | $ | 344,105,550 |  |  | $ | 988,223,491 |
|  |  |  |  |  | 2012 |
Delinquency Status * |  |  |  |  |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Performing |  |  |  |  |  | $ | 102,686,854 |  |  | $ | 114,364,316 |  |  | $ | 75,921,358 |  |  | $ | 292,972,528 |
Nonperforming |  |  |  |  |  |  | 998,802 |  |  |  | 1,217,257 |  |  |  | 799,156 |  |  |  | 3,015,215 |
|  |  |  |  |  | $ | 103,685,656 |  |  | $ | 115,581,573 |  |  | $ | 76,720,514 |  |  | $ | 295,987,743 |
*Performing = loans/leases accruing and less than 90 days past due. Nonperforming = loans/leases on nonaccrual, accruing loans/leases that are greater than or equal to 90 days past due, and accruing troubled debt restructurings. As of December 31, 2013 and 2012, troubled debt restructurings totaled $13,413,366 and $12,958,374, respectively. For each class of financing receivable, the following presents the number and recorded investment of troubled debt restructurings, by type of concession, that were restructured during the years ended December 31, 2013 and 2012. The difference between the pre-modification recorded investment and the post-modification recorded investment would be any partial charge-offs at the time of restructuring. The specific allowance is as of December 31, 2013 and 2012, respectively. The following excludes any troubled debt restructurings that were restructured and paid off in the same year.
|  | 2013 |
Classes of Loans/Leases |  | Number of Loans/Leases |  |  | Pre-Modification Recorded Investment |  |  | Post-Modification Recorded Investment |  |  | Specific Allowance |
CONCESSION - Extension of maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  |  | 3 |  |  | $ | 809,494 |  |  | $ | 809,494 |  |  | $ | 182,498 |
Owner-Occupied Commercial Real Estate |  |  | 1 |  |  |  | 61,517 |  |  |  | 61,517 |  |  |  | 10,260 |
Other Non Owner-Occupied Commercial Real Estate * |  |  | 8 |  |  |  | 6,637,835 |  |  |  | 6,637,835 |  |  |  | 1,535,154 |
|  |  | 12 |  |  | $ | 7,508,846 |  |  | $ | 7,508,846 |  |  | $ | 1,727,912 |
CONCESSION - Significant payment delay |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Real Estate |  |  | 1 |  |  | $ | 91,581 |  |  | $ | 91,581 |  |  | $ | - |
Installment and Other Consumer |  |  | 1 |  |  |  | 370,000 |  |  |  | 370,000 |  |  |  | 300 |
|  |  | 2 |  |  | $ | 461,581 |  |  | $ | 461,581 |  |  | $ | 300 |
CONCESSION - Interest rate adjusted below market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Construction, Land Development, and Other Land |  |  | 1 |  |  | $ | 337,500 |  |  | $ | 337,500 |  |  | $ | - |
Other Non Owner-Occupied Commercial Real Estate ** |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | 4,837 |
Residential Real Estate |  |  | 3 |  |  |  | 394,838 |  |  |  | 394,838 |  |  |  | 108,121 |
|  |  | 5 |  |  | $ | 732,338 |  |  | $ | 732,338 |  |  | $ | 112,958 |
TOTAL |  |  | 19 |  |  | $ | 8,702,765 |  |  | $ | 8,702,765 |  |  | $ | 1,841,170 |
*Includes one troubled debt restructuring that is a $136,000 line of credit that had nothing outstanding at the time of modification. The total amount outstanding as of December 31, 2013 was $135,477 with specific allowance of $67,745. **Includes one troubled debt restructuring that is a $25,000 line of credit that had nothing outstanding at the time of modification. The total amount outstanding as of December 31, 2013 was $4,837 with specific allowance of $4,837. Of the troubled debt restructurings reported above, 13 with post-modification recorded investments totaling $6,579,346 were on nonaccrual as of December 31, 2013. For the year ended December 31, 2013, the Company had one troubled debt restructuring that redefaulted within 12 months subsequent to restructure where default is defined as delinquency of 90 days or more and/or placement on nonaccrual status. The one troubled debt restructuring had a pre-modification and post-modification recorded investment of $61,517 with no specific allowance.
|  | 2012 |
Classes of Loans/Leases |  | Number of Loans/Leases |  |  | Pre-Modification Recorded Investment |  |  | Post-Modification Recorded Investment |  |  | Specific Allowance |
CONCESSION - Extension of maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Non Owner-Occupied Commercial Real Estate |  |  | 1 |  |  | $ | 733,442 |  |  | $ | 733,442 |  |  | $ | 176,526 |
CONCESSION - Significant payment delay |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Construction, Land Development, and Other Land |  |  | 8 |  |  | $ | 1,274,172 |  |  | $ | 1,274,172 |  |  | $ | 190,997 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 2 |  |  |  | 264,173 |  |  |  | 264,173 |  |  |  | 36,724 |
Residential Real Estate |  |  | 1 |  |  |  | 64,722 |  |  |  | 64,722 |  |  |  | - |
Installment and Other Consumer |  |  | 2 |  |  |  | 35,318 |  |  |  | 35,318 |  |  |  | 5,332 |
|  |  | 13 |  |  | $ | 1,638,385 |  |  | $ | 1,638,385 |  |  | $ | 233,053 |
CONCESSION - Interest rate adjusted below market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Construction, Land Development, and Other Land |  |  | 1 |  |  | $ | 337,500 |  |  | $ | 337,500 |  |  | $ | 55,295 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 2 |  |  |  | 1,542,784 |  |  |  | 1,289,825 |  |  |  | 262,704 |
Residential Real Estate |  |  | 1 |  |  |  | 167,739 |  |  |  | 167,739 |  |  |  | - |
Installment and Other Consumer |  |  | 1 |  |  |  | 16,043 |  |  |  | 16,043 |  |  |  | - |
|  |  | 5 |  |  | $ | 2,064,066 |  |  | $ | 1,811,107 |  |  | $ | 317,999 |
TOTAL |  |  | 19 |  |  | $ | 4,435,893 |  |  | $ | 4,182,934 |  |  | $ | 727,578 |
Of the troubled debt restructurings reported above, 9 with post-modification recorded investments totaling $1,779,126 were on nonaccrual as of December 31, 2012. For the year ended December 31, 2012, none of the Company’s troubled debt restructurings had redefaulted within 12 months subsequent to restructure where default is defined as delinquency of 90 days or more and/or placement on nonaccrual status. Loans are made in the normal course of business to directors, executive officers, and their related interests. The terms of these loans, including interest rates and collateral, are similar to those prevailing for comparable transactions with other persons. An analysis of the changes in the aggregate committed amount of loans greater than or equal to $60,000 during the years ended December 31, 2013, 2012, and 2011, was as follows:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Balance, beginning |  | $ | 20,502,058 |  |  | $ | 19,155,542 |  |  | $ | 20,796,427 |
Net increase (decrease) due to change in related parties |  |  | 17,124,702 |  |  |  | 2,784,143 |  |  |  | (235,000 | )
Advances |  |  | 6,213,381 |  |  |  | 6,754,970 |  |  |  | 10,674,567 |
Repayments |  |  | (4,647,175 | ) |  |  | (8,192,597 | ) |  |  | (12,080,452 | )
Balance, ending |  | $ | 39,192,966 |  |  | $ | 20,502,058 |  |  | $ | 19,155,542 |
The Company’s loan portfolio includes a geographic concentration in the Midwest. Additionally, the loan portfolio includes a concentration of loans in certain industries as of December 31, 2013 and 2012 as follows:
|  | 2013 |  |  | 2012 |
Industry Name |  | Balance |  |  | Percentage of Total Loans/Leases |  |  | Balance |  |  | Percentage of Total Loans/Leases |
Lessors of Non-Residential Buildings |  | $ | 237,049,149 |  |  |  | 16 | % |  | $ | 178,060,120 |  |  |  | 14 | %
Lessors of Residential Buildings |  |  | 69,087,354 |  |  |  | 5 | % |  |  | 61,459,574 |  |  |  | 5 | %
Bank Holding Companies |  |  | 56,716,875 |  |  |  | 4 | % |  |  | 47,662,055 |  |  |  | 4 | %

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