XML 23 R11.htm IDEA: XBRL DOCUMENT
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Loans | 3 Months Ended
--- | ---
Mar. 31, 2017
Loans |
Loans | Note 4 – Loans Major classifications of loans were as follows:
|  | March 31, 2017 |  | December 31, 2016 |
Commercial |  | $ | 233,922 |  | $ | 228,113 |
Real estate - commercial |  |  | 713,358 |  |  | 736,247 |
Real estate - construction |  |  | 87,049 |  |  | 64,720 |
Real estate - residential |  |  | 373,477 |  |  | 377,851 |
Consumer |  |  | 2,913 |  |  | 3,237 |
Overdraft |  |  | 190 |  |  | 436 |
Lease financing receivables |  |  | 64,607 |  |  | 55,451 |
Other |  |  | 11,645 |  |  | 11,537 |
|  |  | 1,487,161 |  |  | 1,477,592 |
Net deferred loan costs |  |  | 860 |  |  | 1,217 |
Total loans |  | $ | 1,488,021 |  | $ | 1,478,809 |
It is the policy of the Company to review each prospective credit prior to making a loan in order to determine if an adequate level of security or collateral has been obtained. The type of collateral, when required, will vary from liquid assets to real estate. The Company’s access to collateral, in the event of borrower default, is assured through adherence to lending laws, the Company’s lending standards and credit monitoring procedures. With selected exceptions, the Bank makes loans solely within its market area. There are no significant concentrations of loans where the customers’ ability to honor loan terms is dependent upon a single economic sector, although the real estate related categories listed above represent 78.9% and 79.7% of the portfolio at March 31, 2017, and December 31, 2016, respectively. Aged analysis of past due loans by class of loans was as follows:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Recorded
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Investment
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 90 days or
|  |  |  |  |  |  |  | 90 Days or |  |  |  |  |  |  |  |  |  |  |  |  |  | Greater Past
|  | 30-59 Days |  | 60-89 Days |  | Greater Past |  | Total Past |  |  |  |  |  |  |  |  |  |  | Due and
March 31, 2017 |  | Past Due |  | Past Due |  | Due |  | Due |  | Current |  | Nonaccrual |  | Total Loans |  | Accruing
Commercial |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 233,697 |  | $ | 225 |  | $ | 233,922 |  | $ | -
Leases |  |  | 939 |  |  | - |  |  | - |  |  | 939 |  |  | 63,184 |  |  | 484 |  |  | 64,607 |  |  |
Real estate - commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied general purpose |  |  | 175 |  |  | - |  |  | - |  |  | 175 |  |  | 135,289 |  |  | 659 |  |  | 136,123 |  |  | -
Owner occupied special purpose |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 172,647 |  |  | 375 |  |  | 173,022 |  |  | -
Non-owner occupied general purpose |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 220,541 |  |  | 1,088 |  |  | 221,629 |  |  | -
Non-owner occupied special purpose |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 121,661 |  |  | - |  |  | 121,661 |  |  | -
Retail properties |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 45,184 |  |  | 1,161 |  |  | 46,345 |  |  | -
Farm |  |  | 18 |  |  | - |  |  | - |  |  | 18 |  |  | 14,560 |  |  | - |  |  | 14,578 |  |  | -
Real estate - construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilder |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 3,226 |  |  | - |  |  | 3,226 |  |  | -
Land |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 2,900 |  |  | - |  |  | 2,900 |  |  | -
Commercial speculative |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 27,061 |  |  | 70 |  |  | 27,131 |  |  | -
All other |  |  | 76 |  |  | - |  |  | - |  |  | 76 |  |  | 53,512 |  |  | 204 |  |  | 53,792 |  |  | -
Real estate - residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investor |  |  | 312 |  |  | - |  |  | - |  |  | 312 |  |  | 59,785 |  |  | 749 |  |  | 60,846 |  |  | -
Multifamily |  |  | - |  |  | 5,004 |  |  | - |  |  | 5,004 |  |  | 87,136 |  |  | - |  |  | 92,140 |  |  | -
Owner occupied |  |  | 1,403 |  |  | - |  |  | - |  |  | 1,403 |  |  | 112,972 |  |  | 5,249 |  |  | 119,624 |  |  | -
Revolving and junior liens |  |  | 535 |  |  | 162 |  |  | 57 |  |  | 754 |  |  | 98,734 |  |  | 1,379 |  |  | 100,867 |  |  | 57
Consumer |  |  | 6 |  |  | - |  |  | - |  |  | 6 |  |  | 2,897 |  |  | 10 |  |  | 2,913 |  |  | -
Other 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 12,695 |  |  | - |  |  | 12,695 |  |  | -
Total |  | $ | 3,464 |  | $ | 5,166 |  | $ | 57 |  | $ | 8,687 |  | $ | 1,467,681 |  | $ | 11,653 |  | $ | 1,488,021 |  | $ | 57
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Recorded
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Investment
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 90 days or
|  |  |  |  |  |  |  | 90 Days or |  |  |  |  |  |  |  |  |  |  |  |  |  | Greater Past
|  | 30-59 Days |  | 60-89 Days |  | Greater Past |  | Total Past |  |  |  |  |  |  |  |  |  |  | Due and
December 31, 2016 |  | Past Due |  | Past Due |  | Due |  | Due |  | Current |  | Nonaccrual |  | Total Loans |  | Accruing
Commercial |  | $ | 57 |  | $ | 74 |  | $ | - |  | $ | 131 |  | $ | 227,742 |  | $ | 240 |  | $ | 228,113 |  | $ | -
Leases |  |  | - |  |  | 286 |  |  |  |  |  | 286 |  |  | 54,799 |  |  | 366 |  |  | 55,451 |  |  |
Real estate - commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied general purpose |  |  | 758 |  |  | - |  |  | - |  |  | 758 |  |  | 135,599 |  |  | 879 |  |  | 137,236 |  |  | -
Owner occupied special purpose |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 177,755 |  |  | 385 |  |  | 178,140 |  |  | -
Non-owner occupied general purpose |  |  | 667 |  |  | 379 |  |  | - |  |  | 1,046 |  |  | 229,315 |  |  | 1,930 |  |  | 232,291 |  |  | -
Non-owner occupied special purpose |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 118,052 |  |  | 1,013 |  |  | 119,065 |  |  | -
Retail properties |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 53,474 |  |  | 1,179 |  |  | 54,653 |  |  | -
Farm |  |  | 1,353 |  |  | - |  |  | - |  |  | 1,353 |  |  | 13,509 |  |  | - |  |  | 14,862 |  |  | -
Real estate - construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilder |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 3,883 |  |  | - |  |  | 3,883 |  |  | -
Land |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 3,029 |  |  | - |  |  | 3,029 |  |  | -
Commercial speculative |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 22,654 |  |  | 74 |  |  | 22,728 |  |  | -
All other |  |  | 364 |  |  | - |  |  | - |  |  | 364 |  |  | 34,509 |  |  | 207 |  |  | 35,080 |  |  | -
Real estate - residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investor |  |  | 237 |  |  | - |  |  | - |  |  | 237 |  |  | 54,924 |  |  | 936 |  |  | 56,097 |  |  | -
Multifamily |  |  | - |  |  | - |  |  |  |  |  | - |  |  | 96,502 |  |  | - |  |  | 96,502 |  |  |
Owner occupied |  |  | 274 |  |  | - |  |  | - |  |  | 274 |  |  | 116,900 |  |  | 6,452 |  |  | 123,626 |  |  | -
Revolving and junior liens |  |  | 225 |  |  | 405 |  |  | - |  |  | 630 |  |  | 99,374 |  |  | 1,622 |  |  | 101,626 |  |  | -
Consumer |  |  | 10 |  |  | 36 |  |  | - |  |  | 46 |  |  | 3,191 |  |  | - |  |  | 3,237 |  |  | -
Other 1 |  |  | 14 |  |  | - |  |  | - |  |  | 14 |  |  | 13,176 |  |  | - |  |  | 13,190 |  |  | -
Total |  | $ | 3,959 |  | $ | 1,180 |  | $ | - |  | $ | 5,139 |  | $ | 1,458,387 |  | $ | 15,283 |  | $ | 1,478,809 |  | $ | -
1 The “Other” class includes overdrafts and net deferred costs. Credit Quality Indicators The Company categorizes loans into credit risk categories based on current financial information, overall debt service coverage, comparison against industry averages, historical payment experience, and current economic trends. This analysis includes loans with outstanding balances or commitments greater than $50,000 and excludes homogeneous loans such as home equity lines of credit and residential mortgages. Loans with a classified risk rating are reviewed quarterly regardless of size or loan type. The Company uses the following definitions for classified risk ratings: Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Credits that are not covered by the definitions above are pass credits, which are not considered to be adversely rated. Credit Quality Indicators by class of loans were as follows:
March 31, 2017 |  |  |  |  | Special |  |  |  |  |  |  |  |  |
|  | Pass |  | Mention |  | Substandard 1 |  | Doubtful |  | Total
Commercial |  | $ | 213,758 |  | $ | 18,165 |  | $ | 1,999 |  | $ | - |  | $ | 233,922
Leases |  |  | 62,505 |  |  | 939 |  |  | 1,163 |  |  | - |  |  | 64,607
Real estate - commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied general purpose |  |  | 132,769 |  |  | 1,910 |  |  | 1,444 |  |  | - |  |  | 136,123
Owner occupied special purpose |  |  | 169,561 |  |  | 3,086 |  |  | 375 |  |  | - |  |  | 173,022
Non-owner occupied general purpose |  |  | 219,883 |  |  | 658 |  |  | 1,088 |  |  | - |  |  | 221,629
Non-owner occupied special purpose |  |  | 117,945 |  |  | - |  |  | 3,716 |  |  | - |  |  | 121,661
Retail Properties |  |  | 43,929 |  |  | 1,255 |  |  | 1,161 |  |  | - |  |  | 46,345
Farm |  |  | 12,050 |  |  | 1,213 |  |  | 1,315 |  |  | - |  |  | 14,578
Real estate - construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilder |  |  | 3,226 |  |  | - |  |  | - |  |  | - |  |  | 3,226
Land |  |  | 2,900 |  |  | - |  |  | - |  |  | - |  |  | 2,900
Commercial speculative |  |  | 27,061 |  |  | - |  |  | 70 |  |  | - |  |  | 27,131
All other |  |  | 53,411 |  |  | - |  |  | 381 |  |  | - |  |  | 53,792
Real estate - residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investor |  |  | 59,938 |  |  | - |  |  | 908 |  |  | - |  |  | 60,846
Multifamily |  |  | 87,136 |  |  | 5,004 |  |  | - |  |  | - |  |  | 92,140
Owner occupied |  |  | 113,133 |  |  | 568 |  |  | 5,923 |  |  | - |  |  | 119,624
Revolving and junior liens |  |  | 98,674 |  |  | - |  |  | 2,193 |  |  | - |  |  | 100,867
Consumer |  |  | 2,902 |  |  | - |  |  | 11 |  |  | - |  |  | 2,913
Other |  |  | 12,695 |  |  | - |  |  | - |  |  | - |  |  | 12,695
Total |  | $ | 1,433,476 |  | $ | 32,798 |  | $ | 21,747 |  | $ | - |  | $ | 1,488,021
December 31, 2016 |  |  |  |  | Special |  |  |  |  |  |  |  |  |
|  | Pass |  | Mention |  | Substandard 1 |  | Doubtful |  | Total
Commercial |  | $ | 214,028 |  | $ | 11,558 |  | $ | 2,527 |  | $ | - |  | $ | 228,113
Leases |  |  | 53,366 |  |  | 976 |  |  | 1,109 |  |  |  |  |  | 55,451
Real estate - commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied general purpose |  |  | 135,503 |  |  | 53 |  |  | 1,680 |  |  | - |  |  | 137,236
Owner occupied special purpose |  |  | 172,353 |  |  | 5,402 |  |  | 385 |  |  | - |  |  | 178,140
Non-owner occupied general purpose |  |  | 229,448 |  |  | 913 |  |  | 1,930 |  |  | - |  |  | 232,291
Non-owner occupied special purpose |  |  | 114,293 |  |  | - |  |  | 4,772 |  |  | - |  |  | 119,065
Retail Properties |  |  | 52,207 |  |  | 1,267 |  |  | 1,179 |  |  | - |  |  | 54,653
Farm |  |  | 11,840 |  |  | 1,240 |  |  | 1,782 |  |  | - |  |  | 14,862
Real estate - construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilder |  |  | 3,883 |  |  | - |  |  | - |  |  | - |  |  | 3,883
Land |  |  | 3,029 |  |  | - |  |  | - |  |  | - |  |  | 3,029
Commercial speculative |  |  | 22,654 |  |  | - |  |  | 74 |  |  | - |  |  | 22,728
All other |  |  | 34,696 |  |  | - |  |  | 384 |  |  | - |  |  | 35,080
Real estate - residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investor |  |  | 55,001 |  |  | - |  |  | 1,096 |  |  | - |  |  | 56,097
Multifamily |  |  | 96,502 |  |  | - |  |  | - |  |  | - |  |  | 96,502
Owner occupied |  |  | 115,831 |  |  | 570 |  |  | 7,225 |  |  | - |  |  | 123,626
Revolving and junior liens |  |  | 99,286 |  |  | - |  |  | 2,340 |  |  | - |  |  | 101,626
Consumer |  |  | 3,236 |  |  | - |  |  | 1 |  |  | - |  |  | 3,237
Other |  |  | 13,165 |  |  | 25 |  |  | - |  |  | - |  |  | 13,190
Total |  | $ | 1,430,321 |  | $ | 22,004 |  | $ | 26,484 |  | $ | - |  | $ | 1,478,809
1 The substandard credit quality indicator includes both potential problem loans that are currently performing and nonperforming loans. The Company had $1.1 million and $1.8 million residential assets in the process of foreclosure as of March 31, 2017, and December 31, 2016, respectively. The Company also had $1.3 million and $225,000 in residential real estate included in OREO as of March 31, 2017, and December 31, 2016, respectively. Impaired loans, which include nonaccrual loans and troubled debt restructurings, by class of loans for the March 2017 periods listed were as follows:
|  |  |  | Three Months Ended
|  | As of March 31, 2017 |  | March 31, 2017
|  |  |  |  | Unpaid |  |  |  |  | Average |  | Interest
|  | Recorded |  | Principal |  | Related |  | Recorded |  | Income
|  | Investment |  | Balance |  | Allowance |  | Investment |  | Recognized
With no related allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  | $ | 225 |  | $ | 376 |  | $ | - |  | $ | 132 |  | $ | -
Leases |  |  | 484 |  |  | 502 |  |  | - |  |  | 425 |  |  | -
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied general purpose |  |  | 659 |  |  | 719 |  |  | - |  |  | 1,270 |  |  | -
Owner occupied special purpose |  |  | 375 |  |  | 513 |  |  | - |  |  | 380 |  |  | -
Non-owner occupied general purpose |  |  | 1,146 |  |  | 1,430 |  |  | - |  |  | 1,445 |  |  | 1
Non-owner occupied special purpose |  |  | - |  |  | - |  |  | - |  |  | 506 |  |  | -
Retail properties |  |  | 1,161 |  |  | 1,221 |  |  | - |  |  | 1,170 |  |  | -
Farm |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilder |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Land |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Commercial speculative |  |  | 70 |  |  | 80 |  |  | - |  |  | 72 |  |  | -
All other |  |  | 204 |  |  | 220 |  |  | - |  |  | 206 |  |  | -
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investor |  |  | 1,646 |  |  | 2,128 |  |  | - |  |  | 1,744 |  |  | 12
Multifamily |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Owner occupied |  |  | 8,581 |  |  | 9,894 |  |  | - |  |  | 9,202 |  |  | 39
Revolving and junior liens |  |  | 2,410 |  |  | 2,755 |  |  | - |  |  | 2,447 |  |  | 9
Consumer |  |  | 10 |  |  | 10 |  |  | - |  |  | 106 |  |  | -
Total impaired loans with no recorded allowance |  |  | 16,971 |  |  | 19,848 |  |  | - |  |  | 19,105 |  |  | 61
With an allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied general purpose |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Owner occupied special purpose |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Non-owner occupied general purpose |  |  | - |  |  | - |  |  | - |  |  | 123 |  |  | -
Non-owner occupied special purpose |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Retail properties |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Farm |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilder |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Land |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Commercial speculative |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
All other |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investor |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  | 803 |  |  | 853 |  |  | 803 |  |  | 803 |  |  | -
Revolving and junior liens |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Consumer |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total impaired loans with a recorded allowance |  |  | 803 |  |  | 853 |  |  | 803 |  |  | 926 |  |  | -
Total impaired loans |  | $ | 17,774 |  | $ | 20,701 |  | $ | 803 |  | $ | 20,031 |  | $ | 61
Impaired loans by class of loans as of December 31, 2016, and for the three months ended March 31, 2016, were as follows:
|  |  |  |  |  |  |  |  |  |  | Three Months Ended
|  | As of December 31, 2016 |  | March 31, 2016
|  |  |  | Unpaid |  |  |  | Average |  | Interest
|  | Recorded |  | Principal |  | Related |  | Recorded |  | Income
|  | Investment |  | Balance |  | Allowance |  | Investment |  | Recognized
With no related allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  | $ | 240 |  | $ | 388 |  | $ | - |  | $ | 67 |  | $ | -
Leases |  |  | 366 |  |  | 371 |  |  | - |  |  | - |  |  | -
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied general purpose |  |  | 1,881 |  |  | 2,131 |  |  | - |  |  | 2,506 |  |  | 22
Owner occupied special purpose |  |  | 385 |  |  | 518 |  |  | - |  |  | 823 |  |  | -
Non-owner occupied general purpose |  |  | 1,744 |  |  | 2,010 |  |  | - |  |  | 1,029 |  |  | 1
Non-owner occupied special purpose |  |  | 1,013 |  |  | 1,649 |  |  | - |  |  | - |  |  | -
Retail properties |  |  | 1,179 |  |  | 1,235 |  |  | - |  |  | - |  |  | -
Farm |  |  | - |  |  | - |  |  | - |  |  | 636 |  |  | -
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilder |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Land |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Commercial speculative |  |  | 74 |  |  | 81 |  |  | - |  |  | 82 |  |  | -
All other |  |  | 207 |  |  | 221 |  |  | - |  |  | - |  |  | -
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investor |  |  | 1,841 |  |  | 2,308 |  |  | - |  |  | 1,889 |  |  | 12
Multifamily |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Owner occupied |  |  | 9,824 |  |  | 11,391 |  |  | - |  |  | 10,440 |  |  | 41
Revolving and junior liens |  |  | 2,484 |  |  | 3,018 |  |  | - |  |  | 2,747 |  |  | 2
Consumer |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total impaired loans with no recorded allowance |  |  | 21,238 |  |  | 25,321 |  |  | - |  |  | 20,219 |  |  | 78
With an allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | - |  |  | - |  |  | - |  |  | 238 |  |  | -
Leases |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied general purpose |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Owner occupied special purpose |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Non-owner occupied general purpose |  |  | 246 |  |  | 595 |  |  | 246 |  |  | - |  |  | -
Non-owner occupied special purpose |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Retail properties |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Farm |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilder |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Land |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Commercial speculative |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
All other |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investor |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Multifamily |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Owner occupied |  |  | 803 |  |  | 853 |  |  | 803 |  |  | 56 |  |  | -
Revolving and junior liens |  |  | - |  |  | - |  |  | - |  |  | 23 |  |  | -
Consumer |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total impaired loans with a recorded allowance |  |  | 1,049 |  |  | 1,448 |  |  | 1,049 |  |  | 317 |  |  | -
Total impaired loans |  | $ | 22,287 |  | $ | 26,769 |  | $ | 1,049 |  | $ | 20,536 |  | $ | 78
Troubled debt restructurings (“TDRs”) are loans for which the contractual terms have been modified and both of these conditions exist: (1) there is a concession to the borrower and (2) the borrower is experiencing financial difficulties. Loans are restructured on a case-by-case basis during the loan collection process with modifications generally initiated at the request of the borrower. These modifications may include reduction in interest rates, extension of term, deferrals of principal, and other modifications. The Bank participates in the U.S. Department of the Treasury’s (the “Treasury”) Home Affordable Modification Program (“HAMP”) which gives qualifying homeowners an opportunity to refinance into more affordable monthly payments. The specific allocation of the allowance for loan losses for all loans, including TDRs, is determined by either discounting the modified cash flows at the original effective rate of the loan before modification or is based on the underlying collateral value less costs to sell, if repayment of the loan is collateral-dependent. If the resulting amount is less than the recorded book value, the Bank either establishes a valuation allowance (i.e. specific reserve) as a component of the allowance for loan losses or charges off the impaired balance if it determines that such amount is a confirmed loss. This method is used consistently for all segments of the portfolio. The allowance for loan losses also includes an allowance based on a loss migration analysis for each loan category on loans that are not individually evaluated for specific impairment. All loans charged-off, including TDRs charged-off, are factored into this calculation by portfolio segment. TDRs that were modified during the period are as follows:
|  | TDR Modifications |
|  | Three Months Ended March 31, 2017 |
|  | # of |  | Pre-modification |  | Post-modification |
|  | contracts |  | recorded investment |  | recorded investment |
Troubled debt restructurings |  |  |  |  |  |  |  |  |
Real estate - residential |  |  |  |  |  |  |  |  |
Revolving and junior liens |  |  |  |  |  |  |  |  |
HAMP 2 |  | 1 |  | $ | 56 |  | $ | 56 |
Other 1 |  | 3 |  |  | 188 |  |  | 187 |
Total |  | 4 |  | $ | 244 |  | $ | 243 |
|  | TDR Modifications |
|  | Three Months Ended March 31, 2016 |
|  | # of |  | Pre-modification |  | Post-modification |
|  | contracts |  | recorded investment |  | recorded investment |
Troubled debt restructurings |  |  |  |  |  |  |  |  |
Real estate - commercial |  |  |  |  |  |  |  |  |
Other 1 |  | 2 |  | $ | 312 |  | $ | 232 |
Real estate - residential |  |  |  |  |  |  |  |  |
Owner occupied |  |  |  |  |  |  |  |  |
HAMP 2 |  | 1 |  | $ | 239 |  | $ | 239 |
Revolving and junior liens |  |  |  |  |  |  |  |  |
HAMP 2 |  | 3 |  |  | 430 |  |  | 403 |
Total |  | 6 |  | $ | 981 |  | $ | 874 |
1 Other: Change of terms from bankruptcy court 2 HAMP: Home Affordable Modification Program TDRs are classified as being in default on a case-by-case basis when they fail to be in compliance with the modified terms. There was no TDR default activity for three months ending March 31, 2017, and March 31, 2016, for loans that were restructured within the 12 month period prior to default.

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