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Loans | 12 Months Ended
--- | ---
Dec. 31, 2016
Receivables [Abstract] |
Loans | Note 4 Loans The Company originates commercial, industrial and real estate loans to businesses and churches throughout the metropolitan St. Louis, Missouri area, Orange County, California and other selected cities in the United States. The Company does not have any particular concentration of credit in any one economic sector; however, a substantial portion of the commercial and industrial loans is extended to privately-held commercial companies in these market areas, and are generally secured by the assets of the business. The Company also has a substantial portion of real estate loans secured by mortgages that are extended to churches in its market area and selected cities in the United States. A summary of loan categories is as follows:
|  | December 31,
(In thousands) |  | 2016 |  | 2015
Commercial and industrial |  | $ | 214,767 |  | $ | 193,430
Real estate |  |  |  |  |  |
Commercial: |  |  |  |  |  |
Mortgage |  |  | 104,779 |  |  | 108,836
Construction |  |  | 6,325 |  |  | 1,182
Church, church-related: |  |  |  |  |  |
Mortgage |  |  | 321,168 |  |  | 306,728
Construction |  |  | 11,152 |  |  | 28,957
Industrial Revenue Bonds |  |  | 6,639 |  |  | 19,831
Other |  |  | 36 |  |  | 91
Total loans |  | $ | 664,866 |  | $ | 659,055
The following table presents the aging of loans by loan categories at December 31, 2016:
|  | Performing |  | Nonperforming |  |  |
|  |  |  |  |  |  |  |  |  |  | 90 Days |  |  |  |  |  |
|  |  |  |  | 30-59 |  | 60-89 |  | and |  | Non- |  | Total
(In thousands) |  | Current |  | Days |  | Days |  | Over |  | accrual |  | Loans
Commercial and industrial |  | $ | 214,767 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 214,767
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 104,534 |  |  | — |  |  | — |  |  | — |  |  | 245 |  |  | 104,779
Construction |  |  | 6,325 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,325
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 321,168 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 321,168
Construction |  |  | 11,152 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11,152
Industrial Revenue Bonds |  |  | 6,639 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,639
Other |  |  | 24 |  |  | 12 |  |  | — |  |  | — |  |  | — |  |  | 36
Total |  | $ | 664,609 |  | $ | 12 |  | $ | — |  | $ | — |  | $ | 245 |  | $ | 664,866
The following table presents the aging of loans by loan categories at December 31, 2015:
|  | Performing |  | Nonperforming |  |  |
|  |  |  |  |  |  |  |  |  |  | 90 Days |  |  |  |  |  |
|  |  |  |  | 30-59 |  | 60-89 |  | and |  | Non- |  | Total
(In thousands) |  | Current |  | Days |  | Days |  | Over |  | accrual |  | Loans
Commercial and industrial |  | $ | 193,430 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 193,430
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 105,804 |  |  | — |  |  | — |  |  | — |  |  | 3,032 |  |  | 108,836
Construction |  |  | 1,182 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,182
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 306,625 |  |  | — |  |  | — |  |  | — |  |  | 103 |  |  | 306,728
Construction |  |  | 28,957 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 28,957
Industrial Revenue Bonds |  |  | 19,831 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 19,831
Other |  |  | 91 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 91
Total |  | $ | 655,920 |  | $ | — |  | $ | — |  | $ | — |  | $ | 3,135 |  | $ | 659,055
The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of December 31, 2016:
|  | Loans |  | Performing |  | Nonperforming |  |  |
|  | Subject to |  | Loans Subject to |  | Loans Subject |  |  |
|  | Normal |  | Special |  | to Special |  |  |
(In thousands) |  | Monitoring 1 |  | Monitoring2 |  | Monitoring2 |  | Total Loans
Commercial and industrial |  | $ | 213,024 |  | $ | 1,743 |  | $ | — |  | $ | 214,767
Real estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 103,778 |  |  | 756 |  |  | 245 |  |  | 104,779
Construction |  |  | 6,325 |  |  | — |  |  | — |  |  | 6,325
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 318,030 |  |  | 3,138 |  |  | — |  |  | 321,168
Construction |  |  | 11,152 |  |  | — |  |  | — |  |  | 11,152
Industrial Revenue Bonds |  |  | 6,639 |  |  | — |  |  | — |  |  | 6,639
Other |  |  | 36 |  |  | — |  |  | — |  |  | 36
Total |  | $ | 658,984 |  | $ | 5,637 |  | $ | 245 |  | $ | 664,866
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.
The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of December 31, 2015:
|  | Loans |  | Performing |  | Nonperforming |  |  |
|  | Subject to |  | Loans Subject to |  | Loans Subject to |  |  |
|  | Normal |  | Special |  | Special |  | Total
(In thousands) |  | Monitoring 1 |  | Monitoring2 |  | Monitoring2 |  | Loans
Commercial and industrial |  | $ | 190,303 |  | $ | 3,127 |  | $ | — |  | $ | 193,430
Real estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 104,642 |  |  | 1,162 |  |  | 3,032 |  |  | 108,836
Construction |  |  | 1,182 |  |  | — |  |  | — |  |  | 1,182
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 299,135 |  |  | 7,490 |  |  | 103 |  |  | 306,728
Construction |  |  | 28,957 |  |  | — |  |  | — |  |  | 28,957
Industrial Revenue Bonds |  |  | 19,831 |  |  | — |  |  | — |  |  | 19,831
Other |  |  | 91 |  |  | — |  |  | — |  |  | 91
Total |  | $ | 644,141 |  | $ | 11,779 |  | $ | 3,135 |  | $ | 659,055
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 non-performing. 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. The ALLL related to impaired loans was $0 and $1,142,000 at December 31, 2016 and 2015, respectively. Nonaccrual loans were $245,000 and $3,135,000 at December 31, 2016 and 2015, respectively. Loans delinquent 90 days or more and still accruing interest were $0 at December 31, 2016 and 2015. At December 31, 2016 and 2015, there were no loans classified as troubled debt restructuring. The average balances of impaired loans during 2016, 2015 and 2014 were $333,000, $3,188,000, and $1,262,000, respectively. Income that would have been recognized on non-accrual loans under the original terms of the contract was $66,000, $390,000 and $108,000 for 2016, 2015 and 2014, respectively. Income that was recognized on nonaccrual loans was $47,000, $34,000 and $77,000 for 2016, 2015 and 2014 respectively. There were no foreclosed assets as of December 31, 2016 and December 31, 2015. The following table presents the recorded investment and unpaid principal balance for impaired loans at December 31, 2016:
|  |  |  |  |  |  |  | Related
|  |  |  |  | Unpaid |  | Allowance
|  | Recorded |  | Principal |  | for Loan
(In thousands) |  | Investment |  | Balance |  | Losses
Commercial and industrial: |  |  |  |  |  |  |  |  |
Nonaccrual |  | $ | — |  | $ | — |  | $ | —
Real estate |  |  |  |  |  |  |  |  |
Commercial – Mortgage: |  |  |  |  |  |  |  |  |
Nonaccrual |  |  | 245 |  |  | 245 |  |  | —
Church – Mortgage: |  |  |  |  |  |  |  |  |
Nonaccrual |  |  | — |  |  | — |  |  | —
Total impaired loans |  | $ | 245 |  | $ | 245 |  | $ | —
The following table presents the recorded investment and unpaid principal balance for impaired loans at December 31, 2015:
|  |  |  |  |  |  |  | Related
|  |  |  |  | Unpaid |  | Allowance
|  | Recorded |  | Principal |  | for Loan
(In thousands) |  | Investment |  | Balance |  | Losses
Commercial and industrial: |  |  |  |  |  |  |  |  |
Nonaccrual |  | $ | — |  | $ | — |  | $ | —
Real estate |  |  |  |  |  |  |  |  |
Commercial – Mortgage: |  |  |  |  |  |  |  |  |
Nonaccrual |  |  | 3,032 |  |  | 3,032 |  |  | 1,039
Church – Mortgage: |  |  |  |  |  |  |  |  |
Nonaccrual |  |  | 103 |  |  | 103 |  |  | 103
Total impaired loans |  | $ | 3,135 |  | $ | 3,135 |  | $ | 1,142
The Company does not record loans at fair value on a recurring basis. Once a loan is identified as impaired, management measures impairment in accordance with FASB ASC 310. At December 31, 2016, impaired loans were evaluated based on the present value of expected future cash flow. At December 31, 2015, all impaired loans were evaluated based on the fair value of the collateral and the expected cash flow method. 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. A summary of the activity in the allowance for loan losses is as follows:
|  | December 31, |  | Charge- |  |  |  |  |  |  |  |  | December 31,
(In thousands) |  | 2015 |  | Offs |  | Recoveries |  | Provision |  | 2016
Commercial and industrial |  | $ | 3,083 |  | $ | — |  | $ | 39 |  | $ | 139 |  |  | $ | 3,261
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 2,803 |  |  | — |  |  | — |  |  | (1,141 | ) |  |  | 1,662
Construction |  |  | 9 |  |  | — |  |  | — |  |  | 38 |  |  |  | 47
Church, church-related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 4,082 |  |  | — |  |  | 1 |  |  | (56 | ) |  |  | 4,027
Construction |  |  | 217 |  |  | — |  |  | — |  |  | (132 | ) |  |  | 85
Industrial Revenue Bond |  |  | 320 |  |  | — |  |  | — |  |  | (219 | ) |  |  | 101
Other |  |  | 1,121 |  |  | — |  |  | — |  |  | (129 | ) |  |  | 992
Total |  | $ | 11,635 |  | $ | — |  | $ | 40 |  | $ | (1,500 | ) |  | $ | 10,175
As of December 31, 2016, there were no loans to affiliates of executive officers or directors.

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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 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66008989&loc=d3e5066-111524 Reference 2: 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(4)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(6)) -URI http://asc.fasb.org/extlink&oid=6488278&loc=d3e603758-122996 Reference 4: 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)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 5: 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=66008989&loc=d3e5162-111524 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(5)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 8: 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=66008989&loc=d3e5074-111524 + Details
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