v3.19.1

Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2018

Receivables [Abstract]

Loans Held-For-Investment

The following table presents, by recorded investment, the composition of the Company’s loans held-for-investment (net of deferred fees and costs) as of the dates indicated:

		December 31,
($ in thousands)		2018				2017
Real estate loans:
Commercial property		$	709,409			$	662,031
Residential property		233,816				168,560
SBA property		120,939				131,740
Construction		27,323				23,117
Total real estate loans		1,091,487				985,448
Commercial and industrial loans:
Commercial term		102,133				77,402
Commercial lines of credit		80,473				60,822
SBA commercial term		27,147				30,376
Trade finance		11,521				1,929
Total commercial and industrial loans		221,274				170,529
Other consumer loans		25,921				34,022
Loans held-for-investment		1,338,682				1,189,999
Allowance for loan losses		(13,167		)		(12,224		)
Net loans held-for-investment		$	1,325,515			$	1,177,775

Allowance for Loan Losses

The following table presents the activities in allowance for loan losses by portfolio segment, which is consistent with the Company’s methodology for determining allowance for loan losses, for the periods indicated:

($ in thousands)		Real Estate				Commercial and Industrial				Consumer				Total
Balance at January 1, 2016		$	4,974			$	4,152			$	219			$	9,345
Charge-offs		—				(729		)		(38		)		(767		)
Recoveries on loans previously charged off		1				406				52				459
Provision (reversal) for loan losses		2,522				(172		)		(67		)		2,283
Balance at December 31, 2016		7,497				3,657				166				11,320
Charge-offs		(168		)		(1,320		)		(88		)		(1,576		)
Recoveries on loans previously charged off		1				580				72				653
Provision for loan losses		1,177				631				19				1,827
Balance at December 31, 2017		8,507				3,548				169				12,224
Charge-offs		(381		)		(272		)		(356		)		(1,009		)
Recoveries on loans previously charged off		213				356				152				721
Provision for loan losses		765				245				221				1,231
Balance at December 31, 2018		$	9,104			$	3,877			$	186			$	13,167

The following tables present the information on allowance for loan losses and recorded investments by portfolio segment and impairment methodology as of the dates indicated:

($ in thousands)		Real Estate				Commercial and Industrial				Consumer				Total
December 31, 2018
Allowance for loan losses:
Individually evaluated for impairment		$	1			$	93			$	—			$	94
Collectively evaluated for impairment		9,103				3,784				186				13,073
Total		$	9,104			$	3,877			$	186			$	13,167
Loans receivable:
Individually evaluated for impairment		$	1,156			$	320			$	—			$	1,476
Collectively evaluated for impairment		1,090,331				220,954				25,921				1,337,206
Total		$	1,091,487			$	221,274			$	25,921			$	1,338,682
December 31, 2017
Allowance for loan losses:
Individually evaluated for impairment		$	—			$	208			$	—			$	208
Collectively evaluated for impairment		8,507				3,340				169				12,016
Total		$	8,507			$	3,548			$	169			$	12,224
Loans receivable:
Individually evaluated for impairment		$	3,204			$	614			$	—			$	3,818
Collectively evaluated for impairment		982,244				169,915				34,022				1,186,181
Total		$	985,448			$	170,529			$	34,022			$	1,189,999

Risk Categories for Loans by Portfolio Segment

The following table presents the risk categories for the recoded investment in loans by portfolio segment as of dates indicated:

($ in thousands)		Pass				Special Mention				Substandard				Doubtful				Total
December 31, 2018
Real estate loans:
Commercial property		$	708,742			$	—			$	667			$	—			$	709,409
Residential property		233,514				—				302				—				233,816
SBA property		115,543				74				5,322				—				120,939
Construction		24,325				2,998				—				—				27,323
Commercial and industrial loans:
Commercial term		102,106				—				27				—				102,133
Commercial lines of credit		79,874				599				—				—				80,473
SBA commercial term		26,616				—				531				—				27,147
Trade finance		11,521				—				—				—				11,521
Other consumer loans		25,905				—				16				—				25,921
Total		$	1,328,146			$	3,671			$	6,865			$	—			$	1,338,682
December 31, 2017
Real estate loans:
Commercial property		$	656,711			$	4,812			$	508			$	—			$	662,031
Residential property		167,830				—				730				—				168,560
SBA property		126,069				2,487				3,184				—				131,740
Construction		23,117				—				—				—				23,117
Commercial and industrial loans:
Commercial term		77,227				—				175				—				77,402
Commercial lines of credit		60,812				—				10				—				60,822
SBA commercial term		30,003				4				369				—				30,376
Trade finance		1,929				—				—				—				1,929
Other consumer loans		33,997				—				25				—				34,022
Total		$	1,177,695			$	7,303			$	5,001			$	—			$	1,189,999

Aging of Past Due Accruing Loans and Nonaccrual Loans by Segment

The following table presents the aging of past due recorded investment in accruing loans and nonaccrual loans by portfolio segment as of dates indicated:

		Still Accruing
($ in thousands)		30 to 59 Days Past Due				60 to 89 Days Past Due				90 or More Days Past Due				Nonaccrual				Total Past Due and Nonaccrual
December 31, 2018
Real estate loans:
Residential property		$	95			$	—			$	—			$	302			$	397
SBA property		183				—				—				540				723
Commercial and industrial loans:
SBA commercial term		—				—				—				203				203
Other consumer loans		90				9				—				16				115
Total		$	368			$	9			$	—			$	1,061			$	1,438
December 31, 2017
Real estate loans:
Commercial property		$	—			$	—			$	—			$	318			$	318
Residential property		949				96				—				730				1,775
SBA property		—				—				—				1,810				1,810
Commercial and industrial loans:
Commercial term		—				—				—				4				4
Commercial lines of credit		—				—				—				10				10
SBA commercial term		2				—				—				338				340
Other consumer loans		262				32				—				24				318
Total		$	1,213			$	128			$	—			$	3,234			$	4,575

Impairment by Portfolio Segment

The following table presents loans individually evaluated for impairment by portfolio segment as of the dates indicated. The recorded investment presents customer balances net of any partial charge-offs recognized on the loans and net of any deferred fees and costs.

		With No Allowance Recorded								With an Allowance Recorded
($ in thousands)		Recorded Investment				Unpaid Principal Balance				Recorded Investment				Unpaid Principal Balance				Related Allowance
December 31, 2018
Real estate loans:
Residential property		$	302			$	303			$	—			$	—			$	—
SBA property		802				854				52				50				1
Commercial and industrial loans:
Commercial term		68				69				—				—				—
SBA commercial term		73				99				179				189				93
Total		$	1,245			$	1,325			$	231			$	239			$	94
December 31, 2017
Real estate loans:
Commercial property		$	316			$	494			$	—			$	—			$	—
Residential property		730				730				—				—				—
SBA property		2,158				3,639				—				—				—
Commercial and industrial loans:
Commercial term		199				216				—				—				—
Commercial lines of credit		10				20				—				—				—
SBA commercial term		126				288				279				354				208
Total		$	3,539			$	5,387			$	279			$	354			$	208

The following table presents information on the recorded investment in impaired loans by portfolio segment for the periods indicated:

		Year Ended December 31,
		2018								2017								2016
($ in thousands)		Average Recorded Investment				Interest Income				Average Recorded Investment				Interest Income				Average Recorded Investment				Interest Income
Real estate loans:
Commercial property		$	199			$	—			$	396			$	5			$	460			$	24
Residential property		281				—				—				—				—				—
SBA property		1,245				22				1,982				35				2,391				88
Commercial and industrial loans:
Commercial term		112				8				512				30				944				39
Commercial lines of credit		5				—				431				39				477				—
SBA commercial term		382				8				595				25				567				10
Total		$	2,224			$	38			$	3,916			$	134			$	4,839			$	161

The following presents a summary of interest foregone on impaired loans for the periods indicated:

		Year Ended December 31,
($ in thousands)		2018				2017				2016
Interest income that would have been recognized had impaired loans performed in accordance with their original terms		$	191			$	294			$	243
Less: interest income recognized on impaired loans on a cash basis		(38		)		(128		)		(120		)
Interest income foregone on impaired loans		$	153			$	166			$	123

Modified TDRs by Portfolio Segment

The following table presents the composition of loans that were modified as TDRs by portfolio segment as of the dates indicated:

		December 31,
		2018												2017
($ in thousands)		Accruing				Nonaccrual				Total				Accruing				Nonaccrual				Total
Real estate loans:
Commercial property		$	—			$	—			$	—			$	—			$	318			$	318
SBA property		315				—				315				334				1,039				1,373
Commercial and industrial loans:
Commercial term		68				—				68				195				4				199
Commercial lines of credit		—				—				—				—				10				10
SBA commercial term		49				131				180				63				304				367
Total		$	432			$	131			$	563			$	592			$	1,675			$	2,267

The following table presents new loans that were modified as TDRs by portfolio segment for the years ended December 31, 2017 and 2016:

		Year Ended December 31,
		2017											2016
($ in thousands)		Number of Loans			Pre-Modification Recorded Investment				Post-Modification Recorded Investment				Number of Loans			Pre-Modification Recorded Investment				Post-Modification Recorded Investment
Real estate loans:
Commercial property		1			$	312			$	301			—			$	—			$	—
Commercial and industrial loans:
Commercial lines of credit		—			—				—				1			120				115
SBA commercial term		3			274				241				2			28				25
Total		4			$	586			$	542			3			$	148			$	140

The following table presents information on loans that were modified as TDRs for which there was a payment default within twelve months following the modification for the periods indicated:

		Year Ended December 31,
		2018							2017							2016
($ in thousands)		Number of Loans			Recorded Investment at Date of Default				Number of Loans			Recorded Investment at Date of Default				Number of Loans			Recorded Investment at Date of Default
Commercial and industrial loans:
SBA commercial term		—			—				—			—				1			23
Total		—			$	—			—			$	—			1			$	23

Loans Held-for-Sale

The following table presents a composition of loans held-for-sale as of the dates indicated:

		December 31,
($ in thousands)		2018				2017
Real estate loans:
Residential property		$	—			$	270
SBA property		5,481				3,857
Commercial and industrial loans:
SBA commercial term		300				1,170
Total		$	5,781			$	5,297

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