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Note 3 - Loans/Leases Receivable | 9 Months Ended
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Sep. 30, 2014
Receivables [Abstract] |
Financing Receivables [Text Block] | NOTE 3 – LOANS/LEASES RECEIVABLE The composition of the loan/lease portfolio as of September 30, 2014 and December 31, 2013 is presented as follows:
|  | As of September 30, |  |  | As of December 31, |
|  | 2014 |  |  | 2013 |
Commercial and industrial loans |  | $ | 479,747,059 |  |  | $ | 431,688,129 |
Commercial real estate loans |  |  |  |  |  |  |  |
Owner-occupied commercial real estate |  |  | 251,076,360 |  |  |  | 261,215,912 |
Commercial construction, land development, and other land |  |  | 69,856,024 |  |  |  | 57,844,902 |
Other non owner-occupied commercial real estate |  |  | 376,795,649 |  |  |  | 352,692,115 |
|  |  | 697,728,033 |  |  |  | 671,752,929 |
Direct financing leases * |  |  | 162,476,079 |  |  |  | 128,901,442 |
Residential real estate loans ** |  |  | 154,954,020 |  |  |  | 147,356,323 |
Installment and other consumer loans |  |  | 71,760,173 |  |  |  | 76,033,810 |
|  |  | 1,566,665,364 |  |  |  | 1,455,732,633 |
Plus deferred loan/lease origination costs, net of fees |  |  | 6,203,781 |  |  |  | 4,546,925 |
|  |  | 1,572,869,145 |  |  |  | 1,460,279,558 |
Less allowance for estimated losses on loans/leases |  |  | (22,767,917 | ) |  |  | (21,448,048 | )
|  | $ | 1,550,101,228 |  |  | $ | 1,438,831,510 |
* Direct financing leases: |  |  |  |  |  |  |  |
Net minimum lease payments to be received |  | $ | 184,475,603 |  |  | $ | 145,662,254 |
Estimated unguaranteed residual values of leased assets |  |  | 1,538,482 |  |  |  | 1,694,499 |
Unearned lease/residual income |  |  | (23,538,006 | ) |  |  | (18,455,311 | )
|  |  | 162,476,079 |  |  |  | 128,901,442 |
Plus deferred lease origination costs, net of fees |  |  | 6,339,575 |  |  |  | 4,814,183 |
|  |  | 168,815,654 |  |  |  | 133,715,625 |
Less allowance for estimated losses on leases |  |  | (3,106,887 | ) |  |  | (2,517,217 | )
|  | $ | 165,708,767 |  |  | $ | 131,198,408 |
*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 for the three and nine months ended September 30, 2014 and 2013. **Includes residential real estate loans held for sale totaling $1,642,300 and $1,358,290 as of September 30, 2014, and December 31, 2013, respectively. The aging of the loan/lease portfolio by classes of loans/leases as of September 30, 2014 and December 31, 2013 is presented as follows:
|  | As of September 30, 2014 |
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 |  | $ | 470,898,126 |  |  | $ | 638,002 |  |  | $ | 284,380 |  |  | $ | - |  |  | $ | 7,926,551 |  |  | $ | 479,747,059 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 249,903,102 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,173,258 |  |  |  | 251,076,360 |
Commercial Construction, Land Development, and Other Land |  |  | 68,732,309 |  |  |  | 510,364 |  |  |  | - |  |  |  | - |  |  |  | 613,351 |  |  |  | 69,856,024 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 363,737,989 |  |  |  | 266,956 |  |  |  | 25,543 |  |  |  | - |  |  |  | 12,765,161 |  |  |  | 376,795,649 |
Direct Financing Leases |  |  | 159,714,653 |  |  |  | 699,590 |  |  |  | 392,119 |  |  |  | - |  |  |  | 1,669,717 |  |  |  | 162,476,079 |
Residential Real Estate |  |  | 153,145,275 |  |  |  | 49,543 |  |  |  | 382,281 |  |  |  | 51,094 |  |  |  | 1,325,827 |  |  |  | 154,954,020 |
Installment and Other Consumer |  |  | 70,404,267 |  |  |  | 284,429 |  |  |  | 203,591 |  |  |  | 4,312 |  |  |  | 863,574 |  |  |  | 71,760,173 |
|  | $ | 1,536,535,721 |  |  | $ | 2,448,884 |  |  | $ | 1,287,914 |  |  | $ | 55,406 |  |  | $ | 26,337,439 |  |  | $ | 1,566,665,364 |
As a percentage of total loan/lease portfolio |  |  | 98.08 | % |  |  | 0.16 | % |  |  | 0.08 | % |  |  | 0.00 | % |  |  | 1.68 | % |  |  | 100.00 | %
|  | As of December 31, 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 | %
Nonperforming loans/leases by classes of loans/leases as of September 30, 2014 and December 31, 2013 are presented as follows:
|  | As of September 30, 2014 |
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 |  | $ | - |  |  | $ | 7,926,551 |  |  | $ | 1,437,974 |  |  | $ | 9,364,525 |  |  |  | 32.83 | %
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | - |  |  |  | 1,173,258 |  |  |  | - |  |  |  | 1,173,258 |  |  |  | 4.11 | %
Commercial Construction, Land Development, and Other Land |  |  | - |  |  |  | 613,351 |  |  |  | - |  |  |  | 613,351 |  |  |  | 2.15 | %
Other Non Owner-Occupied Commercial Real Estate |  |  | - |  |  |  | 12,765,161 |  |  |  | - |  |  |  | 12,765,161 |  |  |  | 44.76 | %
Direct Financing Leases |  |  | - |  |  |  | 1,669,717 |  |  |  | - |  |  |  | 1,669,717 |  |  |  | 5.85 | %
Residential Real Estate |  |  | 51,094 |  |  |  | 1,325,827 |  |  |  | 333,895 |  |  |  | 1,710,816 |  |  |  | 6.00 | %
Installment and Other Consumer |  |  | 4,312 |  |  |  | 863,574 |  |  |  | 357,000 |  |  |  | 1,224,886 |  |  |  | 4.29 | %
|  | $ | 55,406 |  |  | $ | 26,337,439 |  |  | $ | 2,128,869 |  |  | $ | 28,521,714 |  |  |  | 100.00 | %
*Nonaccrual loans/leases includes $9,620,674 of troubled debt restructurings, including $81,043 in commercial and industrial loans, $8,768,590 in commercial real estate loans, $64,144 in direct financing leases, $515,827 in residential real estate loans, and $191,070 in installment loans.
|  | As of December 31, 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 Commercial 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 | %
**Nonaccrual loans/leases includes $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. Changes in the allowance for estimated losses on loans/leases by portfolio segment for the three and nine months ended September 30, 2014 and 2013, respectively, are presented as follows:
|  | Three Months Ended September 30, 2014 |
|  | Commercial and Industrial |  |  | Commercial Real Estate |  |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Balance, beginning |  | $ | 6,549,378 |  |  | $ | 10,277,692 |  |  | $ | 3,319,131 |  |  | $ | 1,439,185 |  |  | $ | 1,481,638 |  |  | $ | 23,067,024 |
Provisions (credits) charged to expense |  |  | 851,542 |  |  |  | (196,865 | ) |  |  | 509,657 |  |  |  | (53,963 | ) |  |  | (47,048 | ) |  |  | 1,063,323 |
Loans/leases charged off |  |  | (741,127 | ) |  |  | (120,505 | ) |  |  | (741,478 | ) |  |  | (42,022 | ) |  |  | (86,370 | ) |  |  | (1,731,502 | )
Recoveries on loans/leases previously charged off |  |  | 254,265 |  |  |  | 68,346 |  |  |  | 19,577 |  |  |  | 9,870 |  |  |  | 17,014 |  |  |  | 369,072 |
Balance, ending |  | $ | 6,914,058 |  |  | $ | 10,028,668 |  |  | $ | 3,106,887 |  |  | $ | 1,353,070 |  |  | $ | 1,365,234 |  |  | $ | 22,767,917 |
|  | Three Months Ended September 30, 2013 |
|  | Commercial and Industrial |  |  | Commercial Real Estate |  |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Balance, beginning |  | $ | 4,790,828 |  |  | $ | 12,190,497 |  |  | $ | 2,187,605 |  |  | $ | 1,165,341 |  |  | $ | 822,108 |  |  | $ | 21,156,379 |
Provisions (credits) charged to expense |  |  | 765,582 |  |  |  | 88,761 |  |  |  | 338,984 |  |  |  | 102,523 |  |  |  | 71,134 |  |  |  | 1,366,984 |
Loans/leases charged off |  |  | (214,920 | ) |  |  | (443,721 | ) |  |  | (203,724 | ) |  |  | (13,599 | ) |  |  | (51,673 | ) |  |  | (927,637 | )
Recoveries on loans/leases previously charged off |  |  | 26,034 |  |  |  | 375,325 |  |  |  | 644 |  |  |  | 13,240 |  |  |  | 51,420 |  |  |  | 466,663 |
Balance, ending |  | $ | 5,367,524 |  |  | $ | 12,210,862 |  |  | $ | 2,323,509 |  |  | $ | 1,267,505 |  |  | $ | 892,989 |  |  | $ | 22,062,389 |
|  | Nine Months Ended September 30, 2014 |
|  | Commercial and Industrial |  |  | Commercial Real Estate |  |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Balance, beginning |  | $ | 5,648,774 |  |  | $ | 10,705,434 |  |  | $ | 2,517,217 |  |  | $ | 1,395,849 |  |  | $ | 1,180,774 |  |  | $ | 21,448,048 |
Provisions (credits) charged to expense |  |  | 1,930,050 |  |  |  | (460,356 | ) |  |  | 1,428,678 |  |  |  | 42,712 |  |  |  | 218,280 |  |  |  | 3,159,364 |
Loans/leases charged off |  |  | (967,207 | ) |  |  | (436,056 | ) |  |  | (885,966 | ) |  |  | (95,464 | ) |  |  | (102,107 | ) |  |  | (2,486,800 | )
Recoveries on loans/leases previously charged off |  |  | 302,441 |  |  |  | 219,646 |  |  |  | 46,958 |  |  |  | 9,973 |  |  |  | 68,287 |  |  |  | 647,305 |
Balance, ending |  | $ | 6,914,058 |  |  | $ | 10,028,668 |  |  | $ | 3,106,887 |  |  | $ | 1,353,070 |  |  | $ | 1,365,234 |  |  | $ | 22,767,917 |
|  | Nine Months Ended September 30, 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 (credits) charged to expense |  |  | 1,026,073 |  |  |  | 1,875,132 |  |  |  | 1,057,744 |  |  |  | 307,196 |  |  |  | (321,242 | ) |  |  | 3,944,903 |
Loans/leases charged off |  |  | (253,820 | ) |  |  | (1,264,446 | ) |  |  | (726,395 | ) |  |  | (126,490 | ) |  |  | (192,160 | ) |  |  | (2,563,311 | )
Recoveries on loans/leases previously charged off |  |  | 63,726 |  |  |  | 530,674 |  |  |  | 1,765 |  |  |  | 16,471 |  |  |  | 142,957 |  |  |  | 755,593 |
Balance, ending |  | $ | 5,367,524 |  |  | $ | 12,210,862 |  |  | $ | 2,323,509 |  |  | $ | 1,267,505 |  |  | $ | 892,989 |  |  | $ | 22,062,389 |
The allowance for estimated losses on loans/leases by impairment evaluation and by portfolio segment as of September 30, 2014 and December 31, 2013 is presented as follows:
|  | As of September 30, 2014 |
|  | Commercial and Industrial |  |  | Commercial Real Estate |  |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Allowance for impaired loans/leases |  | $ | 2,204,926 |  |  | $ | 2,473,500 |  |  | $ | 165,617 |  |  | $ | 129,859 |  |  | $ | 506,860 |  |  | $ | 5,480,762 |
Allowance for nonimpaired loans/leases |  |  | 4,709,132 |  |  |  | 7,555,168 |  |  |  | 2,941,270 |  |  |  | 1,223,211 |  |  |  | 858,374 |  |  |  | 17,287,155 |
|  | $ | 6,914,058 |  |  | $ | 10,028,668 |  |  | $ | 3,106,887 |  |  | $ | 1,353,070 |  |  | $ | 1,365,234 |  |  | $ | 22,767,917 |
Impaired loans/leases |  | $ | 8,258,681 |  |  | $ | 14,431,006 |  |  | $ | 1,669,717 |  |  | $ | 1,659,722 |  |  | $ | 1,278,089 |  |  | $ | 27,297,215 |
Nonimpaired loans/leases |  |  | 471,488,378 |  |  |  | 683,297,027 |  |  |  | 160,806,362 |  |  |  | 153,294,298 |  |  |  | 70,482,084 |  |  |  | 1,539,368,149 |
|  | $ | 479,747,059 |  |  | $ | 697,728,033 |  |  | $ | 162,476,079 |  |  | $ | 154,954,020 |  |  | $ | 71,760,173 |  |  | $ | 1,566,665,364 |
Allowance as a percentage of impaired loans/leases |  |  | 26.70 | % |  |  | 17.14 | % |  |  | 9.92 | % |  |  | 7.82 | % |  |  | 39.66 | % |  |  | 20.08 | %
Allowance as a percentage nonimpaired loans/leases |  |  | 1.00 | % |  |  | 1.11 | % |  |  | 1.83 | % |  |  | 0.80 | % |  |  | 1.22 | % |  |  | 1.12 | %
|  |  | 1.44 | % |  |  | 1.44 | % |  |  | 1.91 | % |  |  | 0.87 | % |  |  | 1.90 | % |  |  | 1.45 | %
|  | As of December 31, 2013 |
|  | Commercial and Industrial |  |  | Commercial Real Estate |  |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Allowance for impaired loans/leases |  | $ | 927,453 |  |  | $ | 3,174,704 |  |  | $ | 192,847 |  |  | $ | 246,266 |  |  | $ | 467,552 |  |  | $ | 5,008,822 |
Allowance for nonimpaired loans/leases |  |  | 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 |
Impaired loans/leases |  | $ | 1,761,850 |  |  | $ | 12,956,915 |  |  | $ | 894,458 |  |  | $ | 2,116,747 |  |  | $ | 1,350,450 |  |  | $ | 19,080,420 |
Nonimpaired loans/leases |  |  | 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 impaired loans/leases |  |  | 52.64 | % |  |  | 24.50 | % |  |  | 21.56 | % |  |  | 11.63 | % |  |  | 34.62 | % |  |  | 26.25 | %
Allowance as a percentage nonimpaired loans/leases |  |  | 1.10 | % |  |  | 1.14 | % |  |  | 1.82 | % |  |  | 0.79 | % |  |  | 0.95 | % |  |  | 1.14 | %
|  |  | 1.31 | % |  |  | 1.59 | % |  |  | 1.95 | % |  |  | 0.95 | % |  |  | 1.55 | % |  |  | 1.47 | %
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 nine months ended September 30, 2014 are presented as follows:
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 |  | $ | 560,005 |  |  | $ | 667,983 |  |  | $ | - |  |  | $ | 647,016 |  |  | $ | 19,754 |  |  | $ | 19,754 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 760,586 |  |  |  | 873,808 |  |  |  | - |  |  |  | 536,402 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 1,385,356 |  |  |  | 1,496,556 |  |  |  | - |  |  |  | 1,615,643 |  |  |  | - |  |  |  | - |
Other Non Owner-Occupied Commercial Real Estate |  |  | 4,989,393 |  |  |  | 5,044,816 |  |  |  | - |  |  |  | 3,169,784 |  |  |  | 13,283 |  |  |  | 13,283 |
Direct Financing Leases |  |  | 1,109,844 |  |  |  | 1,109,884 |  |  |  | - |  |  |  | 966,959 |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 1,113,535 |  |  |  | 1,113,535 |  |  |  | - |  |  |  | 1,332,539 |  |  |  | 2,879 |  |  |  | 2,879 |
Installment and Other Consumer |  |  | 455,457 |  |  |  | 455,457 |  |  |  | - |  |  |  | 520,020 |  |  |  | - |  |  |  | - |
|  | $ | 10,374,176 |  |  | $ | 10,762,039 |  |  | $ | - |  |  | $ | 8,788,363 |  |  | $ | 35,916 |  |  | $ | 35,916 |
Impaired Loans/Leases with Specific Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 7,698,676 |  |  | $ | 8,464,069 |  |  | $ | 2,204,926 |  |  | $ | 1,702,548 |  |  | $ | - |  |  | $ | - |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 439,701 |  |  |  | 439,701 |  |  |  | 143,453 |  |  |  | 282,878 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 794,703 |  |  |  | 806,703 |  |  |  | 457,086 |  |  |  | 801,643 |  |  |  | - |  |  |  | - |
Other Non Owner-Occupied Commercial Real Estate |  |  | 6,061,267 |  |  |  | 6,760,858 |  |  |  | 1,872,961 |  |  |  | 5,971,713 |  |  |  | - |  |  |  | - |
Direct Financing Leases |  |  | 559,873 |  |  |  | 559,873 |  |  |  | 165,617 |  |  |  | 425,472 |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 546,187 |  |  |  | 546,187 |  |  |  | 129,859 |  |  |  | 520,782 |  |  |  | 2,074 |  |  |  | 2,074 |
Installment and Other Consumer |  |  | 822,632 |  |  |  | 822,632 |  |  |  | 506,860 |  |  |  | 779,968 |  |  |  | 2,670 |  |  |  | 2,670 |
|  | $ | 16,923,039 |  |  | $ | 18,400,023 |  |  | $ | 5,480,762 |  |  | $ | 10,485,004 |  |  | $ | 4,744 |  |  | $ | 4,744 |
Total Impaired Loans/Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 8,258,681 |  |  | $ | 9,132,052 |  |  | $ | 2,204,926 |  |  | $ | 2,349,564 |  |  | $ | 19,754 |  |  | $ | 19,754 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 1,200,287 |  |  |  | 1,313,509 |  |  |  | 143,453 |  |  |  | 819,280 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 2,180,059 |  |  |  | 2,303,259 |  |  |  | 457,086 |  |  |  | 2,417,286 |  |  |  | - |  |  |  | - |
Other Non Owner-Occupied Commercial Real Estate |  |  | 11,050,660 |  |  |  | 11,805,674 |  |  |  | 1,872,961 |  |  |  | 9,141,497 |  |  |  | 13,283 |  |  |  | 13,283 |
Direct Financing Leases |  |  | 1,669,717 |  |  |  | 1,669,757 |  |  |  | 165,617 |  |  |  | 1,392,431 |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 1,659,722 |  |  |  | 1,659,722 |  |  |  | 129,859 |  |  |  | 1,853,321 |  |  |  | 4,953 |  |  |  | 4,953 |
Installment and Other Consumer |  |  | 1,278,089 |  |  |  | 1,278,089 |  |  |  | 506,860 |  |  |  | 1,299,988 |  |  |  | 2,670 |  |  |  | - |
|  | $ | 27,297,215 |  |  | $ | 29,162,062 |  |  | $ | 5,480,762 |  |  | $ | 19,273,367 |  |  | $ | 40,660 |  |  | $ | 40,660 |
Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management’s current estimates. Loans/leases, by classes of financing receivable, considered to be impaired as of and for the three months ended September 30, 2014 and 2013, respectively, are presented as follows:
|  | Three Months Ended September 30, 2014 |  |  | Three Months Ended September 30, 2013 |
Classes of Loans/Leases |  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Interest Income Recognized for Cash Payments Received |  |  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Interest Income Recognized for Cash Payments Received |
Impaired Loans/Leases with No Specific Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 621,836 |  |  | $ | 17,855 |  |  | $ | 17,855 |  |  | $ | 834,405 |  |  | $ | 1,950 |  |  | $ | 1,950 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 751,191 |  |  |  | - |  |  |  | - |  |  |  | 2,295,969 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 1,397,733 |  |  |  | - |  |  |  | - |  |  |  | 1,943,718 |  |  |  | - |  |  |  | - |
Other Non Owner-Occupied Commercial Real Estate |  |  | 4,051,261 |  |  |  | - |  |  |  | - |  |  |  | 1,739,053 |  |  |  | 354 |  |  |  | 354 |
Direct Financing Leases |  |  | 1,152,456 |  |  |  | - |  |  |  | - |  |  |  | 527,153 |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 1,186,197 |  |  |  | 704 |  |  |  | 704 |  |  |  | 1,273,943 |  |  |  | - |  |  |  | - |
Installment and Other Consumer |  |  | 494,498 |  |  |  | - |  |  |  | - |  |  |  | 1,012,035 |  |  |  | 1,689 |  |  |  | 1,689 |
|  | $ | 9,655,172 |  |  | $ | 18,559 |  |  | $ | 18,559 |  |  | $ | 9,626,276 |  |  | $ | 3,993 |  |  | $ | 3,993 |
Impaired Loans/Leases with Specific Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 3,454,429 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,913,841 |  |  | $ | 9,340 |  |  | $ | 9,340 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 439,701 |  |  |  | - |  |  |  | - |  |  |  | 1,181,798 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 796,194 |  |  |  | - |  |  |  | - |  |  |  | 1,897,759 |  |  |  | 1,992 |  |  |  | 1,992 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 6,034,473 |  |  |  | - |  |  |  | - |  |  |  | 8,893,535 |  |  |  | 26,484 |  |  |  | 26,484 |
Direct Financing Leases |  |  | 578,317 |  |  |  | - |  |  |  | - |  |  |  | 172,428 |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 564,278 |  |  |  | 1,296 |  |  |  | 1,296 |  |  |  | 561,752 |  |  |  | 801 |  |  |  | 801 |
Installment and Other Consumer |  |  | 826,092 |  |  |  | 890 |  |  |  | 890 |  |  |  | 422,808 |  |  |  | - |  |  |  | - |
|  | $ | 12,693,484 |  |  | $ | 2,186 |  |  | $ | 2,186 |  |  | $ | 15,043,921 |  |  | $ | 38,617 |  |  | $ | 38,617 |
Total Impaired Loans/Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 4,076,265 |  |  | $ | 17,855 |  |  | $ | 17,855 |  |  | $ | 2,748,246 |  |  | $ | 11,290 |  |  | $ | 11,290 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 1,190,892 |  |  |  | - |  |  |  | - |  |  |  | 3,477,767 |  |  |  | - |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 2,193,927 |  |  |  | - |  |  |  | - |  |  |  | 3,841,477 |  |  |  | 1,992 |  |  |  | 1,992 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 10,085,734 |  |  |  | - |  |  |  | - |  |  |  | 10,632,588 |  |  |  | 26,838 |  |  |  | 26,838 |
Direct Financing Leases |  |  | 1,730,773 |  |  |  | - |  |  |  | - |  |  |  | 699,581 |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 1,750,475 |  |  |  | 2,000 |  |  |  | 2,000 |  |  |  | 1,835,695 |  |  |  | 801 |  |  |  | 801 |
Installment and Other Consumer |  |  | 1,320,590 |  |  |  | 890 |  |  |  | 890 |  |  |  | 1,434,843 |  |  |  | 1,689 |  |  |  | 1,689 |
|  | $ | 22,348,656 |  |  | $ | 20,745 |  |  | $ | 20,745 |  |  | $ | 24,670,197 |  |  | $ | 42,610 |  |  | $ | 42,610 |
Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management’s current estimates. Loans/leases, by classes of financing receivable, considered to be impaired as of December 31, 2013 are presented as follows:
Classes of Loans/Leases |  | Recorded Investment |  |  | Unpaid Principal Balance |  |  | Related Allowance |
Impaired Loans/Leases with No Specific Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 492,622 |  |  | $ | 568,951 |  |  | $ | - |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 392,542 |  |  |  | 392,542 |  |  |  | - |
Commercial Construction, Land Development, and Other Land |  |  | 1,943,168 |  |  |  | 2,054,368 |  |  |  | - |
Other Non Owner-Occupied Commercial Real Estate |  |  | 1,790,279 |  |  |  | 1,902,279 |  |  |  | - |
Direct Financing Leases |  |  | 557,469 |  |  |  | 557,469 |  |  |  | - |
Residential Real Estate |  |  | 1,071,927 |  |  |  | 1,071,927 |  |  |  | - |
Installment and Other Consumer |  |  | 509,667 |  |  |  | 509,667 |  |  |  | - |
|  | $ | 6,757,674 |  |  | $ | 7,057,203 |  |  | $ | - |
Impaired Loans/Leases with Specific Allowance Recorded: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 1,269,228 |  |  | $ | 1,956,755 |  |  | $ | 927,453 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 159,247 |  |  |  | 159,247 |  |  |  | 67,498 |
Commercial Construction, Land Development, and Other Land |  |  | 888,547 |  |  |  | 1,011,747 |  |  |  | 503,825 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 7,783,132 |  |  |  | 8,488,414 |  |  |  | 2,603,381 |
Direct Financing Leases |  |  | 336,989 |  |  |  | 336,989 |  |  |  | 192,847 |
Residential Real Estate |  |  | 1,044,820 |  |  |  | 1,044,820 |  |  |  | 246,266 |
Installment and Other Consumer |  |  | 840,783 |  |  |  | 840,783 |  |  |  | 467,552 |
|  | $ | 12,322,746 |  |  | $ | 13,838,755 |  |  | $ | 5,008,822 |
Total Impaired Loans/Leases: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 1,761,850 |  |  | $ | 2,525,706 |  |  | $ | 927,453 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | 551,789 |  |  |  | 551,789 |  |  |  | 67,498 |
Commercial Construction, Land Development, and Other Land |  |  | 2,831,715 |  |  |  | 3,066,115 |  |  |  | 503,825 |
Other Non Owner-Occupied Commercial Real Estate |  |  | 9,573,411 |  |  |  | 10,390,693 |  |  |  | 2,603,381 |
Direct Financing Leases |  |  | 894,458 |  |  |  | 894,458 |  |  |  | 192,847 |
Residential Real Estate |  |  | 2,116,747 |  |  |  | 2,116,747 |  |  |  | 246,266 |
Installment and Other Consumer |  |  | 1,350,450 |  |  |  | 1,350,450 |  |  |  | 467,552 |
|  | $ | 19,080,420 |  |  | $ | 20,895,958 |  |  | $ | 5,008,822 |
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 an as needed basis depending on the specific circumstances of the loan. 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 September 30, 2014 and December 31, 2013:
|  | As of September 30, 2014 |
|  |  |  |  |  | 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) |  | $ | 448,093,142 |  |  | $ | 241,429,419 |  |  | $ | 66,448,462 |  |  | $ | 349,173,522 |  |  | $ | 1,105,144,545 |
Special Mention (Rating 6) |  |  | 15,306,200 |  |  |  | 6,598,947 |  |  |  | - |  |  |  | 2,058,884 |  |  |  | 23,964,031 |
Substandard (Rating 7) |  |  | 16,347,717 |  |  |  | 3,047,994 |  |  |  | 3,407,562 |  |  |  | 25,563,243 |  |  |  | 48,366,516 |
Doubtful (Rating 8) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 479,747,059 |  |  | $ | 251,076,360 |  |  | $ | 69,856,024 |  |  | $ | 376,795,649 |  |  | $ | 1,177,475,092 |
|  | As of September 30, 2014 |
Delinquency Status * |  | Direct Financing Leases |  |  | Residential Real Estate |  |  | Installment and Other Consumer |  |  | Total |
Performing |  | $ | 160,806,362 |  |  | $ | 153,243,203 |  |  | $ | 70,535,287 |  |  | $ | 384,584,852 |
Nonperforming |  |  | 1,669,717 |  |  |  | 1,710,817 |  |  |  | 1,224,886 |  |  |  | 4,605,420 |
|  | $ | 162,476,079 |  |  | $ | 154,954,020 |  |  | $ | 71,760,173 |  |  | $ | 389,190,272 |
|  | As of December 31, 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 |
|  | As of December 31, 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 |
*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 September 30, 2014 and December 31, 2013, troubled debt restructurings totaled $11,749,543 and $13,413,366, 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 three and nine months ended September 30, 2014 and 2013. The difference between the pre-modification recorded investment and the post-modification recorded investment would be any partial charge-offs at the time of the restructuring.
|  | For the three months ended September 30, 2014 |  |  | For the three months ended September 30, 2013 |
Classes of Loans/Leases |  | Number of Loans / Leases |  |  | Pre-Modification Recorded Investment |  |  | Post-Modification Recorded Investment |  |  | Specific Allowance |  |  | Number of Loans / Leases |  |  | Pre-Modification Recorded Investment |  |  | Post-Modification Recorded Investment |  |  | Specific Allowance |
CONCESSION - Interest rate adjusted below market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Real Estate |  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  |  | 1 |  |  | $ | 79,661 |  |  | $ | 79,661 |  |  | $ | 24,408 |
|  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  |  | 1 |  |  | $ | 79,661 |  |  | $ | 79,661 |  |  | $ | 24,408 |
CONCESSION - Extension of Maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-Occupied Commercial Real Estate |  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  |  | 1 |  |  | $ | 61,517 |  |  | $ | 61,517 |  |  | $ | - |
Other Non Owner-Occupied Commercial Real Estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 7 |  |  |  | 6,637,835 |  |  |  | 6,637,835 |  |  |  | 1,518,303 |
|  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  |  | 8 |  |  | $ | 6,699,352 |  |  | $ | 6,699,352 |  |  | $ | 1,518,303 |
CONCESSION - Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Real Estate |  |  | 1 |  |  | $ | 96,439 |  |  | $ | 71,760 |  |  | $ | 7,125 |  |  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
|  |  | 1 |  |  | $ | 96,439 |  |  | $ | 71,760 |  |  | $ | 7,125 |  |  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
TOTAL |  |  | 1 |  |  | $ | 96,439 |  |  | $ | 71,760 |  |  | $ | 7,125 |  |  |  | 9 |  |  | $ | 6,779,013 |  |  | $ | 6,779,013 |  |  | $ | 1,542,711 |
|  | For the nine months ended September 30, 2014 |  |  | For the nine months ended September 30, 2013 |
Classes of Loans/Leases |  | Number of Loans / Leases |  |  | Pre-Modification Recorded Investment |  |  | Post-Modification Recorded Investment |  |  | Specific Allowance |  |  | Number of Loans / Leases |  |  | Pre-Modification Recorded Investment |  |  | Post-Modification Recorded Investment |  |  | Specific Allowance |
CONCESSION - Significant payment delay |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  |  | 3 |  |  | $ | 889,154 |  |  | $ | 889,154 |  |  | $ | 239,783 |  |  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Owner-Occupied Commercial Real Estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | 47,958 |  |  |  | 47,958 |  |  |  | - |
Direct Financing Leases |  |  | 1 |  |  |  | 89,443 |  |  |  | 89,443 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | 91,581 |  |  |  | 91,581 |  |  |  | - |
Installment and Other Consumer |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | 370,000 |  |  |  | 370,000 |  |  |  | - |
|  |  | 4 |  |  | $ | 978,597 |  |  | $ | 978,597 |  |  | $ | 239,783 |  |  |  | 3 |  |  | $ | 509,539 |  |  | $ | 509,539 |  |  | $ | - |
CONCESSION - Interest rate adjusted below market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Construction, Land Development, and Other Land |  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  |  | 1 |  |  | $ | 337,500 |  |  | $ | 337,500 |  |  | $ | - |
Residential Real Estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2 |  |  |  | 240,288 |  |  |  | 240,288 |  |  |  | 24,408 |
|  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  |  | 3 |  |  | $ | 577,788 |  |  | $ | 577,788 |  |  | $ | 24,408 |
CONCESSION - Extension of maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  |  | 3 |  |  | $ | 809,494 |  |  | $ | 809,494 |  |  | $ | 188,700 |
Owner-Occupied Commercial Real Estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | 61,517 |  |  |  | 61,517 |  |  |  | - |
Other Non Owner-Occupied Commercial Real Estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 7 |  |  |  | 6,637,835 |  |  |  | 6,637,835 |  |  |  | 1,518,303 |
Direct Financing Leases |  |  | 1 |  |  |  | 70,144 |  |  |  | 70,144 |  |  |  | 24,246 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  |  | 1 |  |  | $ | 70,144 |  |  | $ | 70,144 |  |  | $ | 24,246 |  |  |  | 11 |  |  | $ | 7,508,846 |  |  | $ | 7,508,846 |  |  | $ | 1,707,003 |
CONCESSION - Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  |  | 1 |  |  | $ | 427,849 |  |  | $ | 427,849 |  |  | $ | 113,449 |  |  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Residential Real Estate |  |  | 1 |  |  | $ | 96,439 |  |  | $ | 71,760 |  |  | $ | 7,125 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | 2 |  |  | $ | 524,288 |  |  | $ | 499,609 |  |  | $ | 120,574 |  |  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
TOTAL |  |  | 7 |  |  | $ | 1,573,029 |  |  | $ | 1,548,350 |  |  | $ | 384,603 |  |  |  | 17 |  |  | $ | 8,596,173 |  |  | $ | 8,596,173 |  |  | $ | 1,731,411 |
Of the troubled debt restructurings reported above, three with a post-modification recorded investment totaling $75,767 were on nonaccrual as of September 30, 2014, and ten with post-modification recorded investments totaling $6,087,296 were on nonaccrual as of September 30, 2013. For the three and nine months ended September 30, 2014 and 2013, 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.

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