Troubled Debt Restructurings

3 Months Ended

Mar. 31, 2019

Troubled Debt Restructurings [Abstract]

NOTE 5 – Troubled Debt Restructurings

At March 31, 2019 and December 31, 2018, the Company had 26 loans totaling $9.3 million 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. There were no new loans classified as TDRs during the three months ended March 31, 2019.

For the three months ended March 31, 2018

Pre-

Post-

modification

Renewals

Reduced

Converted

Maturity

Total

outstanding

deemed a

or deferred

to interest

date

Number

recorded

(dollars in thousands)

concession

payments

only

extensions

of loans

investment

Consumer

Real estate

549

669

Total loans

549

669

As of March 31, 2019 and 2018, there were no loans modified as a TDR for which there was a payment default (60 days past due) within 12 months of the restructuring date.