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Loans by Type | 9 Months Ended
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Sep. 30, 2019
Receivables [Abstract] |
Loans by Type | Note 6 – Loans by Type A summary of loan categories is as follows:
(In thousands) |  | September 30, 2019 |  | December 31, 2018
Commercial and industrial |  | $ | 325,077 |  | $ | 277,091
Real estate: |  |  |  |  |  |
Commercial: |  |  |  |  |  |
Mortgage |  |  | 83,925 |  |  | 95,605
Construction |  |  | 24,026 |  |  | 11,858
Faith-based: |  |  |  |  |  |
Mortgage |  |  | 318,809 |  |  | 316,147
Construction |  |  | 15,545 |  |  | 20,576
Other |  |  | 2 |  |  | 310
Total loans |  | $ | 767,384 |  | $ | 721,587
The following table presents the aging of loans by loan categories at September 30, 2019 and December 31, 2018:
|  | Performing |  | Nonperforming |  |  |
(In thousands) |  | Current |  | 30-59 Days |  | 60-89 Days |  | 90 Days and Over |  | Non- accrual |  | Total Loans
September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 325,077 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 325,077
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 83,925 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 83,925
Construction |  |  | 24,026 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24,026
Faith-based: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 318,809 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 318,809
Construction |  |  | 15,545 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15,545
Other |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2
Total |  | $ | 767,384 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 767,384
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 277,091 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 277,091
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 95,605 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 95,605
Construction |  |  | 11,858 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11,858
Faith-based: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 316,147 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 316,147
Construction |  |  | 20,576 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 20,576
Other |  |  | 310 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 310
Total |  | $ | 721,587 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 721,587
-11- The following table presents the credit exposure of the loan portfolio as of September 30, 2019 and December 31, 2018:
(In thousands) |  | Loans Subject to Normal Monitoring1 |  | Performing Loans Subject to Special Monitoring2 |  | Nonperforming Loans Subject to Special Monitoring2 |  | Total Loans
September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 322,491 |  | $ | 2,586 |  | $ | — |  | $ | 325,077
Real estate: |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 83,925 |  |  | — |  |  | — |  |  | 83,925
Construction |  |  | 24,026 |  |  | — |  |  | — |  |  | 24,026
Faith-based: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 317,479 |  |  | 1,330 |  |  | — |  |  | 318,809
Construction |  |  | 15,545 |  |  | — |  |  | — |  |  | 15,545
Other |  |  | 2 |  |  | — |  |  | — |  |  | 2
Total |  | $ | 763,468 |  | $ | 3,916 |  | $ | — |  | $ | 767,384
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 275,308 |  | $ | 1,783 |  | $ | — |  | $ | 277,091
Real estate: |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 95,447 |  |  | 158 |  |  | — |  |  | 95,605
Construction |  |  | 11,858 |  |  | — |  |  | — |  |  | 11,858
Faith-based: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 314,940 |  |  | 1,207 |  |  | — |  |  | 316,147
Construction |  |  | 20,576 |  |  | — |  |  | — |  |  | 20,576
Other |  |  | 310 |  |  | — |  |  | — |  |  | 310
Total |  | $ | 718,439 |  | $ | 3,148 |  | $ | — |  | $ | 721,587
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 obligations.
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.” There were no impaired loans, loans delinquent 90 days or more and still accruing, or loans classified as troubled debt restructuring at September 30, 2019 and December 31, 2018. There were no foreclosed loans recorded as other real estate owned as of September 30, 2019 and December 31, 2018. A summary of the activity in the allowance for loan losses from December 31, 2018 to September 30, 2019 is as follows:
(In thousands) |  | December 31, 2018 |  | Charge- Offs |  | Recoveries |  | Provision |  | September 30, 2019
Commercial and industrial |  | $ | 4,179 |  | $ | — |  | $ | 34 |  | $ | 672 |  | $ | 4,885
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 1,417 |  |  | — |  |  | — |  |  | (161) |  |  | 1,256
Construction |  |  | 89 |  |  | — |  |  | — |  |  | 91 |  |  | 180
Faith-based: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 3,961 |  |  | — |  |  | — |  |  | 32 |  |  | 3,993
Construction |  |  | 155 |  |  | — |  |  | — |  |  | (38) |  |  | 117
Other |  |  | 424 |  |  | — |  |  | — |  |  | (346) |  |  | 78
Total |  | $ | 10,225 |  | $ | — |  | $ | 34 |  | $ | 250 |  | $ | 10,509
-12- A summary of the activity in the allowance for loan losses from December 31, 2017 to September 30, 2018 is as follows:
(In thousands) |  | December 31, 2017 |  | Charge- Offs |  | Recoveries |  | Provision |  | September 30, 2018
Commercial and industrial |  | $ | 3,652 |  | $ | — |  | $ | 15 |  | $ | 535 |  | $ | 4,202
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 1,394 |  |  | — |  |  | — |  |  | (9) |  |  | 1,385
Construction |  |  | 70 |  |  | — |  |  | — |  |  | 100 |  |  | 170
Faith-based: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 3,962 |  |  | — |  |  | — |  |  | (105) |  |  | 3,857
Construction |  |  | 196 |  |  | — |  |  | — |  |  | 34 |  |  | 230
Industrial Revenue Bonds |  |  | 52 |  |  | — |  |  | — |  |  | (38) |  |  | 14
Other |  |  | 879 |  |  | — |  |  | — |  |  | (517) |  |  | 362
Total |  | $ | 10,205 |  | $ | — |  | $ | 15 |  | $ | — |  | $ | 10,220

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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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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