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Loans by Type | 3 Months Ended
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Mar. 31, 2013
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:
|  | March 31, |  | December 31,
(In thousands) |  | 2013 |  | 2012
Commercial and industrial |  | $ | 179,021 |  | $ | 160,862
Real estate |  |  |  |  |  |
Commercial: |  |  |  |  |  |
Mortgage |  |  | 125,204 |  |  | 134,843
Construction |  |  | 6,836 |  |  | 7,025
Church, church-related: |  |  |  |  |  |
Mortgage |  |  | 350,674 |  |  | 368,118
Construction |  |  | 17,994 |  |  | 16,450
Other |  |  | 161 |  |  | 435
Total loans |  | $ | 679,890 |  | $ | 687,733
The following table presents the aging of loans by loan categories at March 31, 2013 and December 31, 2012:
|  | Performing |  | Nonperforming |  |  |
|  |  |  |  |  |  |  |  |  |  | 90 Days |  |  |  |  |  |
|  |  |  |  | 30-59 |  | 60-89 |  | and |  | Non- |  | Total
(In thousands) |  | Current |  | Days |  | Days |  | Over |  | accrual |  | Loans
March 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 178,885 |  | $ | — |  | $ | — |  | $ | — |  | $ | 136 |  | $ | 179,021
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 124,600 |  |  | — |  |  | — |  |  | — |  |  | 604 |  |  | 125,204
Construction |  |  | 6,836 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,836
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 349,355 |  |  | 1,151 |  |  | — |  |  | — |  |  | 168 |  |  | 350,674
Construction |  |  | 17,994 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 17,994
Other |  |  | 161 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 161
Total |  | $ | 677,831 |  | $ | 1,151 |  | $ | — |  | $ | — |  | $ | 908 |  | $ | 679,890
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 159,423 |  | $ | — |  | $ | — |  | $ | — |  | $ | 1,439 |  | $ | 160,862
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 129,884 |  |  | — |  |  | — |  |  | — |  |  | 4,959 |  |  | 134,843
Construction |  |  | 7,025 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7,025
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 367,944 |  |  | — |  |  | — |  |  | — |  |  | 174 |  |  | 368,118
Construction |  |  | 16,450 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,450
Other |  |  | 435 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 435
Total |  | $ | 681,161 |  | $ | — |  | $ | — |  | $ | — |  | $ | 6,572 |  | $ | 687,733
The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of March 31, 2013 and December 31, 2012:
|  | Loans |  | Performing |  | Nonperforming |  |  |
|  | Subject to |  | Loans Subject to |  | Loans Subject to |  |  |
|  | Normal |  | Special |  | Special |  | Total
(In thousands) |  | Monitoring 1 |  | Monitoring2 |  | Monitoring2 |  | Loans
March 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 175,369 |  | $ | 3,516 |  | $ | 136 |  | $ | 179,021
Real estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 116,618 |  |  | 7,982 |  |  | 604 |  |  | 125,204
Construction |  |  | 6,836 |  |  | — |  |  | — |  |  | 6,836
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 347,173 |  |  | 3,333 |  |  | 168 |  |  | 350,674
Construction |  |  | 17,994 |  |  | — |  |  | — |  |  | 17,994
Other |  |  | 161 |  |  | — |  |  | — |  |  | 161
Total |  | $ | 664,151 |  | $ | 14,831 |  | $ | 908 |  | $ | 679,890
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 155,838 |  | $ | 3,585 |  | $ | 1,439 |  | $ | 160,862
Real estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 123,315 |  |  | 6,569 |  |  | 4,959 | 3 |  | 134,843
Construction |  |  | 7,025 |  |  | — |  |  | — |  |  | 7,025
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 366,366 |  |  | 1,578 |  |  | 174 |  |  | 368,118
Construction |  |  | 16,450 |  |  | — |  |  | — |  |  | 16,450
Other |  |  | 435 |  |  | — |  |  | — |  |  | 435
Total |  | $ | 669,429 |  | $ | 11,732 |  | $ | 6,572 |  | $ | 687,733
____________________ 1Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk, who have the apparent ability to satisfy their loan obligation. 2Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention. 3In February 2013, a payment of $4,115,000 was received for one nonaccrual loan with a balance of $4,198,000. $83,000 was charged off. 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 March 31, 2013 and December 31, 2012, 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 3. Loans delinquent 90 days or more and still accruing interest at March 31, 2013 and December 31, 2012 were $0. Loans classified as troubled debt restructuring were $0 at March 31, 2013 and December 31, 2012. There are two foreclosed loans with an aggregate book value of $1,322,000 which have been recorded as other real estate owned (included in other assets) as of March 31, 2013 and there were two foreclosed loans with an aggregate book value of $1,322,000 as of December 31, 2012. The following table presents the recorded investment and unpaid principal balance for impaired loans at March 31, 2013 and December 31, 2012:
|  |  |  |  |  | Unpaid |  |  | Related
|  | Recorded |  |  | Principal |  |  | Allowance for
(In thousands) |  | Investment |  |  | Balance |  |  | Loan Losses
March 31, 2013 |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |
Nonaccrual |  | $ | 136 |  |  | $ | 136 |  |  | $ | 68
Troubled debt restructurings still accruing |  |  | — |  |  |  | — |  |  |  | —
Real estate |  |  |  |  |  |  |  |  |  |  |
Commercial – Mortgage: |  |  |  |  |  |  |  |  |  |  |
Nonaccrual |  |  | 604 |  |  |  | 604 |  |  |  | 144
Past due 90 days or more and still accruing |  |  | — |  |  |  | — |  |  |  | —
Troubled debt restructurings still accruing |  |  | — |  |  |  | — |  |  |  | —
Church – Mortgage: |  |  |  |  |  |  |  |  |  |  |
Nonaccrual |  |  | 168 |  |  |  | 168 |  |  |  | 84
Total impaired loans |  | $ | 908 |  |  | $ | 908 |  |  | $ | 296
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |
Nonaccrual |  | $ | 1,439 |  |  | $ | 1,439 |  |  | $ | 657
Troubled debt restructurings still accruing |  |  | — |  |  |  | — |  |  |  | —
Real estate |  |  |  |  |  |  |  |  |  |  |
Commercial – Mortgage: |  |  |  |  |  |  |  |  |  |  |
Nonaccrual |  |  | 4,959 | * |  |  | 4,959 | * |  |  | 660
Past due 90 days or more and still accruing |  |  | — |  |  |  | — |  |  |  | —
Troubled debt restructurings still accruing |  |  | — |  |  |  | — |  |  |  | —
Church – Mortgage: |  |  |  |  |  |  |  |  |  |  |
Nonaccrual |  |  | 174 |  |  |  | 174 |  |  |  | 87
Total impaired loans |  | $ | 6,572 |  |  | $ | 6,572 |  |  | $ | 1,404
____________________ *In February 2013, a payment of $4,115,000 was received for one nonaccrual loan with a balance of $4,198,000. $83,000 was charged off. A summary of the activity in the allowance for loan losses from December 31, 2012 to March 31, 2013 is as follows:
|  | December 31, |  | Charge- |  |  |  |  |  |  |  |  | March 31,
(In thousands) |  | 2012 |  | Offs |  | Recoveries |  | Provision |  | 2012
Commercial and industrial |  | $ | 3,192 |  | $ | 1,296 |  | $ | 2 |  | $ | 724 |  |  | $ | 2,622
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 3,784 |  |  | 233 |  |  | — |  |  | (379 | ) |  |  | 3,172
Construction |  |  | 137 |  |  | — |  |  | — |  |  | (3 | ) |  |  | 134
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 4,903 |  |  | — |  |  | 2 |  |  | (124 | ) |  |  | 4,781
Construction |  |  | 333 |  |  | — |  |  | — |  |  | (12 | ) |  |  | 321
Other |  |  | 8 |  |  | — |  |  | — |  |  | (6 | ) |  |  | 2
Total |  | $ | 12,357 |  | $ | 1,529 |  | $ | 4 |  | $ | 200 |  |  | $ | 11,032

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- 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
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