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v3.20.1

Loans by Type | 3 Months Ended
--- | ---
Mar. 31, 2020
Receivables [Abstract] |
Loans by Type | Note 6 – Loans by Type A summary of loan categories is as follows:
(In thousands) |  | March 31, 2020 |  | December 31, 2019
Commercial and industrial |  | $ | 399,217 |  | $ | 323,857
Real estate |  |  |  |  |  |
Commercial: |  |  |  |  |  |
Mortgage |  |  | 100,717 |  |  | 101,654
Construction |  |  | 19,528 |  |  | 25,299
Faith-based: |  |  |  |  |  |
Mortgage |  |  | 311,520 |  |  | 305,826
Construction |  |  | 23,792 |  |  | 15,945
Other |  |  | 6 |  |  | 57
Total loans |  | $ | 854,780 |  | $ | 772,638
-11- The following table presents the aging of loans by loan categories at March 31, 2020 and December 31, 2019:
|  | Performing |  | Nonperforming |  |
(In thousands) |  | Current |  | 30-59 Days |  | 60-89 Days |  | 90 Days and Over |  | Non- accrual |  | Total Loans
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 399,217 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 399,217
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 100,717 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 100,717
Construction |  |  | 19,528 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 19,528
Faith-based: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 311,520 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 311,520
Construction |  |  | 23,792 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 23,792
Other |  |  | 6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6
Total |  | $ | 854,780 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 854,780
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 323,857 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 323,857
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 101,654 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 101,654
Construction |  |  | 25,299 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 25,299
Faith-based: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 305,826 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 305,826
Construction |  |  | 15,945 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15,945
Other |  |  | 57 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 57
Total |  | $ | 772,638 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 772,638
The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of March 31, 2020 and December 31, 2019:
(In thousands) |  | Loans Subject to Normal Monitoring1 |  | Performing Loans Subject to Special Monitoring2 |  | Nonperforming Loans Subject to Special Monitoring2 |  | Total Loans
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 387,444 |  | $ | 11,773 |  | $ | — |  | $ | 399,217
Real estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 99,464 |  |  | 1,253 |  |  | — |  |  | 100,717
Construction |  |  | 19,528 |  |  | — |  |  | — |  |  | 19,528
Faith-based: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 310,236 |  |  | 1,284 |  |  | — |  |  | 311,520
Construction |  |  | 23,792 |  |  | — |  |  | — |  |  | 23,792
Other |  |  | 6 |  |  | — |  |  | — |  |  | 6
Total |  | $ | 840,470 |  | $ | 14,310 |  | $ | — |  | $ | 854,780
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 321,554 |  | $ | 2,303 |  | $ | — |  | $ | 323,857
Real estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 100,346 |  |  | 1,308 |  |  | — |  |  | 101,654
Construction |  |  | 25,299 |  |  | — |  |  | — |  |  | 25,299
Faith-based: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 304,513 |  |  | 1,313 |  |  | — |  |  | 305,826
Construction |  |  | 15,945 |  |  | — |  |  | — |  |  | 15,945
Other |  |  | 57 |  |  | — |  |  | — |  |  | 57
Total |  | $ | 767,714 |  | $ | 4,924 |  | $ | — |  | $ | 772,638
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.
-12- 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. 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. There were no non-accrual loans, loans delinquent 90 days or more and still accruing interest, or loans classified as troubled debt restructuring at March 31, 2020 or December 31, 2019. There were no foreclosed loans recorded as other real estate owned (included in other assets) as of March 31, 2020 or December 31, 2019. A summary of the activity in the allowance for loan losses from December 31, 2019 to March 31, 2020 is as follows:
(In thousands) |  | December 31, 2019 |  | Charge- Offs |  | Recoveries |  | Provision |  | March 31, 2020
Commercial and industrial |  | $ | 4,874 |  | $ | — |  | $ | 7 |  | $ | 213 |  | $ | 5,094
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 1,528 |  |  | — |  |  | — |  |  | 24 |  |  | 1,552
Construction |  |  | 191 |  |  | — |  |  | — |  |  | (41) |  |  | 150
Faith-based: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 3,842 |  |  | — |  |  | 1 |  |  | 106 |  |  | 3,949
Construction |  |  | 121 |  |  | — |  |  | — |  |  | 23 |  |  | 144
Total |  | $ | 10,556 |  | $ | — |  | $ | 8 |  | $ | 325 |  | $ | 10,889
A summary of the activity in the allowance for loan losses from December 31, 2018 to March 31, 2019 is as follows:
(In thousands) |  | December 31, 2018 |  | Charge- Offs |  | Recoveries |  | Provision |  | March 31, 2019
Commercial and industrial |  | $ | 4,179 |  | $ | — |  | $ | 11 |  | $ | 529 |  | $ | 4,719
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 1,417 |  |  | — |  |  | — |  |  | (33) |  |  | 1,384
Construction |  |  | 89 |  |  | — |  |  | — |  |  | 26 |  |  | 115
Faith-based: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage |  |  | 3,961 |  |  | — |  |  | — |  |  | (51) |  |  | 3,910
Construction |  |  | 155 |  |  | — |  |  | — |  |  | (27) |  |  | 128
Other |  |  | 424 |  | $ | — |  | $ | — |  | $ | (194) |  | $ | 230
Total |  | $ | 10,225 |  | $ | — |  | $ | 11 |  | $ | 250 |  | $ | 10,486

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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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