XML 55 R12.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Loans by Type | 6 Months Ended
--- | ---
Jun. 30, 2012
Loans By Type Disclosure [Abstract] |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 6 – Loans by Type A summary of loan categories is as follows:
|  | June 30, |  | December 31,
(In thousands) |  | 2012 |  | 2011
Commercial and industrial |  | $ | 168,691 |  | $ | 136,916
Real estate |  |  |  |  |  |
Commercial: |  |  |  |  |  |
Mortgage |  |  | 141,640 |  |  | 140,848
Construction |  |  | 9,608 |  |  | 9,067
Church, church-related: |  |  |  |  |  |
Mortgage |  |  | 341,830 |  |  | 347,726
Construction |  |  | 31,505 |  |  | 36,497
Other |  |  | 138 |  |  | 511
Total loans |  | $ | 693,412 |  | $ | 671,565
The following table presents the aging of loans by loan categories at June 30, 2012 and December 31, 2011:
|  | Performing |  | Nonperforming
|  |  |  |  |  |  |  |  |  |  | 90 Days |  |  |  |  |  |
|  |  |  |  | 30-59 |  | 60-89 |  | and |  | Non |  | Total
(In thousands) |  | Current |  | Days |  | Days |  | Over |  | Accrual |  | Loans
June 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 168,644 |  | $ | — |  | $ | — |  | $ | — |  | $ | 47 |  | $ | 168,691
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 135,955 |  |  | — |  |  | — |  |  | — |  |  | 5,685 |  |  | 141,640
Construction |  |  | 9,608 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9,608
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 341,623 |  |  | — |  |  | — |  |  | — |  |  | 207 |  |  | 341,830
Construction |  |  | 31,505 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 31,505
Other |  |  | 138 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 138
Total |  | $ | 687,473 |  | $ | — |  | $ | — |  | $ | — |  | $ | 5,939 |  | $ | 693,412
December 31, 2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 136,850 |  | $ | — |  | $ | 10 |  | $ | — |  | $ | 56 |  | $ | 136,916
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 139,249 |  |  | 137 |  |  | — |  |  | 29 |  |  | 1,433 |  |  | 140,848
Construction |  |  | 9,067 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9,067
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 347,506 |  |  | — |  |  | — |  |  | — |  |  | 220 |  |  | 347,726
Construction |  |  | 36,497 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36,497
Other |  |  | 511 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 511
Total |  | $ | 669,680 |  | $ | 137 |  | $ | 10 |  | $ | 29 |  | $ | 1,709 |  | $ | 671,565
The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of June 30, 2012 and December 31, 2011:
|  | Loans |  | Performing |  | Nonperforming |  |  |
|  | Subject to |  | Loans Subject to |  | Loans Subject to |  |  |
|  | Normal |  | Special |  | Special |  | Total
(In thousands) |  | Monitoring 1 |  | Monitoring2 |  | Monitoring2 |  | Loans
June 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 164,509 |  | $ | 4,135 |  | $ | 47 |  | $ | 168,691
Real estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 128,776 |  |  | 7,179 |  |  | 5,685 |  |  | 141,640
Construction |  |  | 9,608 |  |  | — |  |  | — |  |  | 9,608
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 339,806 |  |  | 1,817 |  |  | 207 |  |  | 341,830
Construction |  |  | 31,505 |  |  | — |  |  | — |  |  | 31,505
Other |  |  | 138 |  |  | — |  |  | — |  |  | 138
Total |  | $ | 674,342 |  | $ | 13,131 |  | $ | 5,939 |  | $ | 693,412
December 31, 2011 |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 132,475 |  | $ | 4,385 |  | $ | 56 |  | $ | 136,916
Real estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 125,850 |  |  | 13,536 |  |  | 1,462 |  |  | 140,848
Construction |  |  | 9,067 |  |  | — |  |  | — |  |  | 9,067
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 336,727 |  |  | 10,779 |  |  | 220 |  |  | 347,726
Construction |  |  | 36,497 |  |  | — |  |  | — |  |  | 36,497
Other |  |  | 511 |  |  | — |  |  | — |  |  | 511
Total |  | $ | 641,127 |  | $ | 28,700 |  | $ | 1,738 |  | $ | 671,565
1 | Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk, who have the apparent ability to satisfy their loan obligation.
2 | Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.
Impaired loans consist primarily of nonaccrual loans, loans greater than 90 days past due and still accruing interest and troubled debt restructurings, both performing and nonperforming. Troubled debt restructuring involves the granting of a concession to a borrower experiencing financial difficulty resulting in the modification of terms of the loan, such as changes in payment schedule or interest rate. Management measures impairment in accordance with FASB ASC 310, “Allowance for Credit Losses.” At June 30, 2012 and December 31, 2011, all impaired loans were evaluated based on the fair value of the collateral. The fair value of the collateral is based upon an observable market price or current appraised value and therefore, the Company classifies these assets as nonrecurring Level 2. Loans delinquent 90 days or more and still accruing interest at June 30, 2012 and December 31, 2011 were $0 and $29,000, respectively. Loans classified as troubled debt restructuring were $0 and $4,479,000 at June 30, 2012 and December 31, 2011, respectively. There are two foreclosed loans with a book value of $1,689,000 which have been recorded as other real estate owned (included in other assets) as of June 30, 2012 and December 31, 2011. The following table presents the recorded investment and unpaid principal balance for impaired loans at June 30, 2012 and December 31, 2011:
|  |  |  |  | Unpaid |  | Related
|  | Recorded |  | Principal |  | Allowance for
(In thousands) |  | Investment |  | Balance |  | Loan Losses
June 30, 2012 |  |  |  |  |  |  |  |  |
Commercial and industrial: |  |  |  |  |  |  |  |  |
Nonaccrual |  | $ | 47 |  | $ | 47 |  | $ | 24
Troubled debt restructurings still accruing |  |  | — |  |  | — |  |  | —
Real estate |  |  |  |  |  |  |  |  |
Commercial – Mortgage: |  |  |  |  |  |  |  |  |
Nonaccrual |  |  | 5,685 |  |  | 5,685 |  |  | 728
Past due 90 days or more and still accruing |  |  | — |  |  | — |  |  | —
Troubled debt restructurings still accruing |  |  | — |  |  | — |  |  | —
Church – Mortgage: |  |  |  |  |  |  |  |  |
Nonaccrual |  |  | 207 |  |  | 207 |  |  | 115
Total impaired loans |  | $ | 5,939 |  | $ | 5,939 |  | $ | 867
December 31, 2011 |  |  |  |  |  |  |  |  |
Commercial and industrial: |  |  |  |  |  |  |  |  |
Nonaccrual |  | $ | 56 |  | $ | 56 |  | $ | 28
Troubled debt restructurings still accruing |  |  | 83 |  |  | 83 |  |  | 8
Real estate |  |  |  |  |  |  |  |  |
Commercial – Mortgage: |  |  |  |  |  |  |  |  |
Nonaccrual |  |  | 1,433 |  |  | 1,433 |  |  | 149
Past due 90 days or more and still accruing |  |  | 29 |  |  | 29 |  |  | —
Troubled debt restructurings still accruing |  |  | 4,396 |  |  | 4,396 |  |  | 766
Church – Mortgage: |  |  |  |  |  |  |  |  |
Nonaccrual |  |  | 220 |  |  | 220 |  |  | 115
Total impaired loans |  | $ | 6,217 |  | $ | 6,217 |  | $ | 1,066
A summary of the activity in the allowance for loan losses from December 31, 2011 to June 30, 2012 is as follows:
|  | December 31, |  | Charge- |  |  |  |  |  |  |  |  |  |
(In thousands) |  | 2011 |  | Offs |  | Recoveries |  | Provision |  | June 30, 2012
Commercial and industrial |  | $ | 2,594 |  | $ | — |  | $ | 107 |  | $ | 17 |  |  | $ | 2,718
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 4,776 |  |  | 1,238 |  |  | — |  |  | 990 |  |  |  | 4,528
Construction |  |  | 167 |  |  | — |  |  | — |  |  | 5 |  |  |  | 172
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 4,797 |  |  |  |  |  |  |  |  | (111 | ) |  |  | 4,686
Construction |  |  | 616 |  |  | — |  |  | — |  |  | (99 | ) |  |  | 517
Other |  |  | 4 |  |  | — |  |  | — |  |  | (2 | ) |  |  | 2
Total |  | $ | 12,954 |  | $ | 1,238 |  | $ | 107 |  | $ | 800 |  |  | $ | 12,623

X
- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 4 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5074-111524 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5162-111524 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 01-6 -Paragraph 13 -Subparagraph d -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 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5066-111524 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 7 -Article 9 + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration