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Loans, net and allowance for loan losses (Tables)

6 Months Ended

Jun. 30, 2014

Receivables [Abstract]

Major Classifications of Loans Outstanding

The major classifications of loans outstanding, net of deferred loan origination fees and costs at June 30, 2014 and December 31, 2013 are summarized as follows. Net deferred loan costs were $420 and $24 at June 30, 2014 and December 31, 2013.

		June 30, 2014				December 31, 2013
Commercial		$	337,033			$	350,680
Real estate:
Commercial			439,942				413,058
Residential			317,929				322,062
Consumer			84,943				90,817
Total		$	1,179,847			$	1,176,617

Changes in Allowance for Loan Losses Account by Major Classification of Loan

The changes in the allowance for loan losses account by major classification of loan for the three and six months ended June 30, 2014 and 2013 are summarized as follows:

						Real estate
June 30, 2014		Commercial				Commercial				Residential				Consumer				Total
Allowance for loan losses:
Beginning Balance April 1, 2014		$	1,961			$	2,473			$	3,248			$	1,177			$	8,859
Charge-offs			(29	)			(404	)			(270	)			(87	)			(790	)
Recoveries			1				269				35				47				352
Provisions			268				337				445				151				1,201
Ending balance		$	2,201			$	2,675			$	3,458			$	1,288			$	9,622

						Real estate
June 30, 2014		Commercial				Commercial				Residential				Consumer				Total
Allowance for loan losses:
Beginning Balance January 1, 2014		$	2,008			$	2,394			$	3,135			$	1,114			$	8,651
Charge-offs			(376	)			(432	)			(510	)			(155	)			(1,473	)
Recoveries			1				269				38				78				386
Provisions			568				444				795				251				2,058
Ending balance		$	2,201			$	2,675			$	3,458			$	1,288			$	9,622

						Real estate
June 30, 2013		Commercial				Commercial				Residential				Consumer				Total
Allowance for loan losses:
Beginning Balance April 1, 2013		$	799			$	2,304			$	3,100			$	907			$	7,110
Charge-offs											(51	)			(51	)			(102	)
Recoveries											41				3				44
Provisions			400								2				98				500
Ending balance		$	1,199			$	2,304			$	3,092			$	957			$	7,552

						Real estate
June 30, 2013		Commercial				Commercial				Residential				Consumer				Total
Allowance for loan losses:
Beginning Balance January 1, 2013		$	799			$	2,304			$	2,981			$	866			$	6,950
Charge-offs											(207	)			(117	)			(324	)
Recoveries											106				20				126
Provisions			400								212				188				800
Ending balance		$	1,199			$	2,304			$	3,092			$	957			$	7,552

The allocation of the allowance for loan losses and the related loans by major classifications of loans at June 30, 2014 and December 31, 2013 is summarized as follows:

						Real estate
June 30, 2014		Commercial				Commercial				Residential				Consumer				Unallocated		Total
Allowance for loan losses:
Ending balance		$	2,201			$	2,675			$	3,458			$	1,288					$	9,622
Ending balance: individually evaluated for impairment			1,157				527				162										1,846
Ending balance: collectively evaluated for impairment			1,044				2,148				3,296				1,288						7,776
Ending balance: loans acquired with deteriorated credit quality		$				$				$				$						$
Loans receivable:
Ending balance		$	337,033			$	439,942			$	317,929			$	84,943					$	1,179,847
Ending balance: individually evaluated for impairment			2,859				7,210				2,916				97						13,082
Ending balance: collectively evaluated for impairment			332,627				428,656				314,952			$	84,846						1,161,081
Ending balance: loans acquired with deteriorated credit quality		$	1,547			$	4,076			$	61									$	5,684

						Real estate
December 31, 2013		Commercial				Commercial				Residential				Consumer				Unallocated		Total
Allowance for loan losses:
Ending balance		$	2,008			$	2,394			$	3,135			$	1,114					$	8,651
Ending balance: individually evaluated for impairment			1,500				300				224										2,024
Ending balance: collectively evaluated for impairment			508				2,094				2,911				1,114						6,627
Ending balance: loans acquired with deteriorated credit quality		$				$				$				$						$
Loans receivable:
Ending balance		$	350,680			$	413,058			$	322,062			$	90,817					$	1,176,617
Ending balance: individually evaluated for impairment			4,504				7,711				3,321				90						15,626
Ending balance: collectively evaluated for impairment			343,502				401,168				318,274			$	90,727						1,153,671
Ending balance: loans acquired with deteriorated credit quality		$	2,674			$	4,179			$	467									$	7,320

Major Classification of Loans Portfolio Summarized by Credit Quality

The following tables present the major classification of loans summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company’s internal risk rating system at June 30, 2014 and December 31, 2013:

June 30, 2014		Pass				Special Mention				Substandard				Doubtful		Total
Commercial		$	322,316			$	4,469			$	10,248					$	337,033
Real estate:
Commercial			414,853				10,389				14,700						439,942
Residential			311,248				1,423				5,258						317,929
Consumer			84,850				15				78						84,943
Total		$	1,133,267			$	16,296			$	30,284					$	1,179,847

December 31, 2013		Pass				Special Mention				Substandard				Doubtful		Total
Commercial		$	332,257			$	7,025			$	11,398					$	350,680
Real estate:
Commercial			386,825				10,701				15,532						413,058
Residential			314,544				861				6,657						322,062
Consumer			90,718				9				90						90,817
Total		$	1,124,344			$	18,596			$	33,677					$	1,176,617

Information Concerning Nonaccrual Loans by Major Loan Classification

Information concerning nonaccrual loans by major loan classification at June 30, 2014 and December 31, 2013 is summarized as follows:

		June 30, 2014				December 31, 2013
Commercial		$	1,777			$	2,035
Real estate:
Commercial			8,779				9,172
Residential			2,963				3,569
Consumer			97				90
Total		$	13,616			$	14,866

Major Classifications of Loans by Past Due Status

The major classifications of loans by past due status are summarized as follows:

June 30, 2014		30-59 Days Past Due				60-89 Days Past Due				Greater than 90 Days				Total Past Due				Current				Total Loans				Loans > 90 Days and Accruing
Commercial		$	519							$	1,837			$	2,356			$	334,677			$	337,033			$	60
Real estate:
Commercial			1,337			$	34				8,779				10,150				429,792				439,942
Residential			2,600				940				4,221				7,761				310,168				317,929				1,258
Consumer			728				196				472				1,396				83,547				84,943				375
Total		$	5,184			$	1,170			$	15,309			$	21,663			$	1,158,184			$	1,179,847			$	1,693

December 31, 2013		30-59 Days Past Due				60-89 Days Past Due				Greater than 90 Days				Total Past Due				Current				Total Loans				Loans > 90 Days and Accruing
Commercial		$	1,052			$	105			$	2,041			$	3,198			$	347,482			$	350,680			$	6
Real estate:
Commercial			1,641				75				9,372				11,088				401,970				413,058				200
Residential			3,676				985				4,247				8,908				313,154				322,062				678
Consumer			798				313				661				1,772				89,045				90,817				571
Total		$	7,167			$	1,478			$	16,321			$	24,966			$	1,151,651			$	1,176,617			$	1,455

Summarize Information in Concerning to Impaired Loans

The following tables summarize information concerning impaired loans as of and for the three and six months ended June 30, 2014 and June 30, 2013, and as of and for the year ended, December 31, 2013 by major loan classification:

														This Quarter								Year-to-Date
June 30, 2014		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized				Average Recorded Investment				Interest Income Recognized
With no related allowance:
Commercial		$	2,649			$	4,470							$	2,329			$	28			$	2,908			$	52
Real estate:
Commercial			9,899				12,619								9,929				19				10,077				38
Residential			2,720				2,908								2,730				1				2,801				2
Consumer			97				97								113								111
Total			15,365				20,094								15,101				48				15,897				92
With an allowance recorded:
Commercial			1,757				1,757			$	1,157				1,743				23				1,853				43
Real estate:
Commercial			1,387				1,387				527				1,395				14				1,397				29
Residential			257				257				162				259								390
Consumer
Total			3,401				3,401				1,846				3,397				37				3,640				72
Commercial			4,406				6,227				1,157				4,072				51				4,761				95
Real estate:
Commercial			11,286				14,006				527				11,324				33				11,474				67
Residential			2,977				3,165				162				2,989				1				3,191				2
Consumer			97				97								113								111
Total		$	18,766			$	23,495			$	1,846			$	18,498			$	85			$	19,537			$	164

														For the Year Ended
December 31, 2013		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized
With no related allowance:
Commercial		$	4,978			$	9,474							$	5,824
Real estate:
Commercial			10,496				13,352								10,095
Residential			3,004				3,437								2,614
Consumer			90				90								95
Total			18,568				26,353								18,628
With an allowance recorded:
Commercial			2,200				2,200			$	1,500				2,182			$	95
Real estate:
Commercial			1,394				1,394				300				1,409				76
Residential			784				784				224				672				13
Consumer
Total			4,378				4,378				2,024				4,263				184
Commercial			7,178				11,674				1,500				8,006				95
Real estate:
Commercial			11,890				14,746				300				11,504				76
Residential			3,788				4,221				224				3,286				13
Consumer			90				90								95
Total		$	22,946			$	30,731			$	2,024			$	22,891			$	184

														This Quarter								Year-to-Date
June 30, 2013		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized				Average Recorded Investment				Interest Income Recognized
With no related allowance:
Commercial		$	325			$	325							$	239							$	280
Real estate:
Commercial			314				314								370								287
Residential			1,437				1,437								970								1,047
Consumer			52				52								82								70
Total			2,128				2,128								1,661								1,684
With an allowance recorded:
Commercial			612				612			$	612				712			$	8				532			$	12
Real estate:
Commercial			1,443				1,443				300				1,162				19				1,445				38
Residential			665				665				262				1,150				3				1,233				6
Consumer
Total			2,720				2,720				1,174				3,024				30				3,210				56
Commercial			937				937				612				951				8				812				12
Real estate:
Commercial			1,757				1,757				300				1,532				19				1,732				38
Residential			2,102				2,102				262				2,120				3				2,280				6
Consumer			52				52								82								70
Total		$	4,848			$	4,848			$	1,174			$	4,685			$	30			$	4,894			$	56

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- Definition

Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account.

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-Publisher FASB

-Name Accounting Standards Codification

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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

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Tabular disclosure of impaired financing receivables.

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Tabular disclosure of financing receivables that are past due but not impaired, financing receivables that are 90 days past due and still accruing, and financing receivables on nonaccrual status.

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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Tabular disclosure of nonaccrual and past due financing receivables (such as loans and trade receivables), including: (a) the recorded investment in loans and trade receivables, if applicable, on nonaccrual status as of each balance sheet date (b) the recorded investment in loans and trade receivables, if applicable, past due 90 days or more and still accruing.

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