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Note 7: Loans and Allowance For Loan Losses: Loans and Leases Receivable Troubled Debt Restructuring Policy (Policies) | 3 Months Ended
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Mar. 31, 2013
Policies |
Loans and Leases Receivable Troubled Debt Restructuring Policy | At March 31, 2013, the Company had $45.7 million of loans that were modified in troubled debt restructurings and impaired, as follows: $1.8 million of construction loans, $18.0 million of single family and multi-family residential mortgage loans, $23.7 million of commercial real estate loans, $1.9 million of commercial business loans and $331,000 of consumer loans. Of the total troubled debt restructurings at March 31, 2013, $42.1 million were accruing interest and $11.3 million were classified as substandard and $1.0 million were classified as doubtful using the Company’s internal grading system, which is described below. The Company had troubled debt restructurings which were modified in the previous 12 months and subsequently defaulted during the quarter ended March 31, 2013 of approximately $1.1 million, including three commercial real estate loans totaling $912,000, two non-owner occupied residential mortgage loans totaling $193,000, and one commercial business loan totaling $13,000. In addition, the Company had troubled debt restructurings which were modified in the previous 12 months, which subsequently defaulted and were transferred to foreclosed assets during the quarter ended March 31, 2013, of approximately $1.1 million, including one commercial real estate loan of $1.5 million, $1.0 million of which was charged-off, and two non-owner occupied residential mortgage loans totaling approximately $155,000. When loans modified as troubled debt restructuring have subsequent payment defaults, the defaults are factored into the determination of the allowance for loan losses to ensure specific valuation allowances reflect amounts considered uncollectible. At December 31, 2012, the Company had $2.8 million of construction loans, $7.1 million of residential mortgage loans, $26.9 million of commercial real estate loans, $7.9 million of other residential loans, $1.9 million of commercial business loans and $167,000 of consumer loans that were modified in troubled debt restructurings and impaired. Of the total troubled debt restructurings at December 31, 2012, $40.5 million were accruing interest and $14.6 million were classified as substandard and $1.0 million were classified as doubtful using the Company’s internal grading system. During the three months ended March 31, 2013, borrowers with loans designated as troubled debt restructurings totaling $387,000, made up of residential mortgage loans, met the criteria for placement back on accrual status. This criteria is a minimum of six months of payment performance under existing or modified terms.

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- Definition Disclosure of the accounting policy for loan agreements whose terms have been modified because of the inability of the borrower for financial reasons to comply with the terms of the original loan agreement. A creditor discloses material facts pertaining to significant modifications. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 15 -Paragraph 25 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -URI http://asc.fasb.org/subtopic&trid=2196892 + Details
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