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Troubled Debt Restructurings | 3 Months Ended
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Mar. 31, 2017
Troubled Debt Restructurings [Abstract] |
Troubled Debt Restructurings | NOTE 5 – Troubled Debt Restructurings At March 31, 2017, the Company had 18 loans totaling $6.8 million compared to 17 loans totaling $6.7 million at December 31, 2016, which were considered as TDRs. The Company considers a loan to be a TDR when the debtor experiences financial difficulties and the Company grants a concession to the debtor that it would not normally consider. Concessions can relate to the contractual interest rate, maturity date, or payment structure of the note. As part of the workout plan for individual loan relationships, the Company may restructure loan terms to assist borrowers facing financial challenges in the current economic environment. To date, the Company has restored three commercial loans previously classified as TDRs to accrual status. The following table summarizes the concession at the time of modification and the recorded investment in the Company’s TDRs before and after their modification during the three months ended March 31, 2017. There were no loans modified and considered a TDR during the three months ended March 31, 2016.
|  | For the three months ended March 31, 2017
|  |  |  |  |  |  |  |  |  |  |  | Pre- |  | Post-
|  |  |  |  |  |  |  |  |  |  |  | modification |  | modification
|  | Renewals |  | Reduced |  | Converted |  | Maturity |  | Total |  | outstanding |  | outstanding
|  | deemed a |  | or deferred |  | to interest |  | date |  | Number |  | recorded |  | recorded
(dollars in thousands) |  | concession |  | payments |  | only |  | extensions |  | of loans |  | investment |  | investment
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business |  | 1 |  | - |  | - |  | - |  | 1 |  | $ | 149 |  | $ | 149
Total loans |  | 1 |  | - |  | - |  | - |  | 1 |  | $ | 149 |  | $ | 149
As of March 31, 2017, there was one loan with a recorded investment of $187,000 modified as a TDR for which there was a payment default (60 days past due) within 12 months of the restructuring date. There were no such loans as of March 31, 2016.

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- Definition Disclosure of the accounting policy for loan agreements whose terms have been modified because of the inability of the borrower for financial reasons to comply with the terms of the original loan agreement. A creditor discloses material facts pertaining to significant modifications. + References No definition available. + Details
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