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Loans (Tables) | 3 Months Ended
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Mar. 31, 2015
Loans [Abstract] |
Summary of loan portfolio and allowance for loan losses | The following table summarizes the primary segments of the loan portfolio and how those segments are analyzed within the allowance for loan losses as of March 31, 2015 and December 31, 2014 (in thousands):
March 31, 2015 |  | Total Loans | Individually evaluated for impairment | Collectively evaluated for impairment
Real estate loans: |  |  |  |
Residential |  | $ 183,838 | $ 310 | $ 183,528
Commercial and agricultural |  | 218,392 | 6,010 | 212,382
Construction |  | 6,036 | - | 6,036
Consumer |  | 8,171 | - | 8,171
Other commercial and agricultural loans | 63,386 | 2,890 | 60,496
State and political subdivision loans |  | 85,356 | - | 85,356
Total |  | 565,179 | $ 9,210 | $ 555,969
Allowance for loan losses |  | 6,922 |  |
Net loans |  | $ 558,257 |  |
December 31, 2014 |  | Total Loans | Individually evaluated for impairment | Collectively evaluated for impairment
Real estate loans: |  |  |  |
Residential |  | $ 185,438 | $ 316 | $ 185,122
Commercial and agricultural |  | 215,584 | 6,112 | 209,472
Construction |  | 6,353 | - | 6,353
Consumer |  | 8,497 | - | 8,497
Other commercial and agricultural loans |  | 58,516 | 2,394 | 56,122
State and political subdivision loans |  | 79,717 | - | 79,717
Total |  | 554,105 | $ 8,822 | $ 545,283
Allowance for loan losses |  | 6,815 |  |
Net loans |  | $ 547,290 |  |
Impaired financing receivables with associated allowance amount | The following table includes the recorded investment and unpaid principal balances for impaired financing receivables by class, with the associated allowance amount, if applicable (in thousands):
|  | Recorded | Recorded |  |
| Unpaid | Investment | Investment | Total |
| Principal | With No | With | Recorded | Related
March 31, 2015 | Balance | Allowance | Allowance | Investment | Allowance
Real estate loans: |  |  |  |  |
Mortgages | $ 218 | $ 121 | $ 66 | $ 187 | $ 13
Home Equity | 129 | 59 | 64 | 123 | 12
Commercial | 8,398 | 5,851 | 159 | 6,010 | 72
Other commercial loans | 2,988 | 2,431 | 459 | 2,890 | 91
Total | $ 11,733 | $ 8,462 | $ 748 | $ 9,210 | $ 188
December 31, 2014 |  |  |  |  |
Real estate loans: |  |  |  |  |
Mortgages | $ 222 | $ 125 | $ 66 | $ 191 | $ 13
Home Equity | 130 | 60 | 65 | 125 | 12
Commercial | 8,433 | 5,708 | 404 | 6,112 | 72
Other commercial loans | 2,480 | 2,346 | 48 | 2,394 | 1
Total | $ 11,265 | $ 8,239 | $ 583 | $ 8,822 | $ 98
The following tables includes the average balance of impaired financing receivables by class and the income recognized on impaired loans for the three month periods ended March 31, 2015 and 2014(in thousands):
| March 31, 2015 | March 31, 2014
|  |  | Interest |  |  | Interest
| Average | Interest | Income | Average | Interest | Income
| Recorded | Income | Recognized | Recorded | Income | Recognized
| Investment | Recognized | Cash Basis | Investment | Recognized | Cash Basis
Real estate loans: |  |  |  |  |  |
Mortgages | $ 188 | $ 2 | $ - | $ 205 | $ 2 | $ -
Home Equity | 124 | 1 | - | 133 | 1 | -
Commercial | 6,023 | 13 | - | 8,533 | 26 | -
Consumer | - | - | - | 15 | - | -
Other commercial loans | 2,729 | 25 | 1 | 1,893 | 33 | -
Total | $ 9,064 | $ 41 | $ 1 | $ 10,779 | $ 62 | $ -
Summary of financing receivable credit exposures by internally assigned grades | The following table presents the recorded investment in those loan classes based on payment activity as of March 31, 2015 and December 31, 2014 (in thousands):
March 31, 2015 | Performing | Non- performing | Total
Real estate loans: |  |  |
Mortgages | $ 122,090 | $ 1,021 | $ 123,111
Home Equity | 60,458 | 269 | 60,727
Consumer | 8,113 | 58 | 8,171
Total | $ 190,661 | $ 1,348 | $ 192,009
December 31, 2014 | Performing | Non-performing | Total
Real estate loans: |  |  |
Mortgages | $ 121,968 | $ 890 | $ 122,858
Home Equity | 62,296 | 284 | 62,580
Consumer | 8,444 | 53 | 8,497
Total | $ 192,708 | $ 1,227 | $ 193,935
Age analysis of past due financing receivables | The following table includes an aging analysis of the recorded investment of past due financing receivables as of March 31, 2015 and December 31, 2014 (in thousands):
|  | 30-59 Days | 60-89 Days | 90 Days | Total Past |  | Total Financing | 90 Days and
March 31,2015 | Past Due | Past Due | Or Greater | Due | Current | Receivables | Accruing
Real estate loans: |  |  |  |  |  |  |
Mortgages | $ 438 | $ 432 | $ 708 | $ 1,578 | $ 121,533 | $ 123,111 | $ 212
Home Equity | 333 | 76 | 254 | 663 | 60,064 | 60,727 | 128
Commercial | 1,111 | - | 1,257 | 2,368 | 190,333 | 192,701 | 44
Agricultural | 210 | - | - | 210 | 25,481 | 25,691 | -
Construction | - | - | - | - | 6,036 | 6,036 | -
Consumer | 34 | 32 | 12 | 78 | 8,093 | 8,171 | 1
Other commercial loans | 333 | 158 | 335 | 826 | 51,780 | 52,606 | 18
Other agricultural loans | 53 | - | - | 53 | 10,727 | 10,780 | -
State and political |  |  |  |  |  |  |
subdivision loans | - | - | - | - | 85,356 | 85,356 | -
| Total | $ 2,512 | $ 698 | $ 2,566 | $ 5,776 | $ 559,403 | $ 565,179 | $ 403
Loans considered non-accrual | $ 579 | $ 171 | $ 2,163 | $ 2,913 | $ 4,236 | $ 7,149 |
Loans still accruing | 1,933 | 527 | 403 | 2,863 | 555,167 | 558,030 |
| Total | $ 2,512 | $ 698 | $ 2,566 | $ 5,776 | $ 559,403 | $ 565,179 |
December 31, 2014 |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |
Mortgages | $ 318 | $ 230 | $ 675 | $ 1,223 | $ 121,635 | $ 122,858 | $ 214
Home Equity | 442 | 99 | 260 | 801 | 61,779 | 62,580 | 132
Commercial | 97 | 231 | 1,432 | 1,760 | 189,185 | 190,945 | 310
Agricultural | - | - | - | - | 24,639 | 24,639 | -
Construction | - | - | - | - | 6,353 | 6,353 | -
Consumer | 119 | 4 | 7 | 130 | 8,367 | 8,497 | 6
Other commercial loans | 503 | 258 | 476 | 1,237 | 46,214 | 47,451 | 174
Other agricultural loans | - | - | - | - | 11,065 | 11,065 | -
State and political |  |  |  |  |  |  |
subdivision loans | - | - | - | - | 79,717 | 79,717 | -
| Total | $ 1,479 | $ 822 | $ 2,850 | $ 5,151 | $ 548,954 | $ 554,105 | $ 836
Loans considered non-accrual | $ 48 | $ 181 | $ 2,014 | $ 2,243 | $ 4,356 | $ 6,599 |
Loans still accruing | 1,431 | 641 | 836 | 2,908 | 544,598 | 547,506 |
| Total | $ 1,479 | $ 822 | $ 2,850 | $ 5,151 | $ 548,954 | $ 554,105 |
Summary of financing receivables on nonaccrual status | The following table reflects the financing receivables on non-accrual status as of March 31, 2015 and December 31, 2014, respectively. The balances are presented by class of financing receivable (in thousands):
|  | March 31, 2015 |  | December 31, 2014
Real estate loans: |  |  |
Mortgages | $ 809 |  | $ 676
Home Equity | 141 |  | 152
Commercial | 5,030 |  | 5,010
Consumer | 57 |  | 47
Other commercial loans | 1,112 |  | 714
|  | $ 7,149 |  | $ 6,599
Summary of troubled debt restructurings on financing receivables | Loan modifications that are considered TDRs completed during the three months ended March 31, 2015 and 2014 were as follows (dollars in thousands):
| For the Three Months Ended March 31, 2015
| Number of contracts | Pre-modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment
| Interest Modification | Term Modification | Interest Modification | Term Modification | Interest Modification | Term Modification
Real estate loans: |  |  |  |  |  |
Mortgages | 1 | - | $ 71 | - | $ 71 | -
Total | 1 | - | $ 71 | $ - | $ 71 | $ -
| For the Three Months Ended March 31, 2014
| Number of contracts | Pre-modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment
| Interest Modification | Term Modification | Interest Modification | Term Modification | Interest Modification | Term Modification
Real estate loans: |  |  |  |  |  |
Commercial | - | 1 | $ - | $ 125 | $ - | $ 125
Total | - | 1 | $ - | $ 125 | $ - | $ 125
The following table presents the recorded investment in loans that were modified as TDRs during each 12-month period prior to the current reporting periods, which begin January 1, 2015 and 2014, respectively, and that subsequently defaulted during these reporting periods (dollars in thousands):
| For the Three Months Ended
| March 31, 2015 | March 31, 2014
| Number of contracts | Recorded investment | Number of contracts | Recorded investment
Real estate loans: |  |  |  |
Commercial | 1 | $ 124 | 1 | $ 483
Total recidivism | 1 | $ 124 | 1 | $ 483
Allowance for loan losses by impairment method | The following table segregates the allowance for loan losses (ALLL) into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of March 31, 2015 and December 31, 2014, respectively (in thousands):
| March 31, 2015 |  | December 31, 2014
| Individually evaluated for impairment | Collectively evaluated for impairment | Total |  | Individually evaluated for impairment | Collectively evaluated for impairment | Total
Real estate loans: |  |  |  |  |  |  |
Residential | $ 25 | $ 898 | $ 923 |  | $ 25 | $ 853 | $ 878
Commercial and agricultural | 72 | 3,627 | 3,699 |  | 72 | 3,798 | 3,870
Construction | - | 11 | 11 |  | - | 26 | 26
Consumer | - | 82 | 82 |  | - | 84 | 84
Other commercial and agricultural loans | 91 | 1,195 | 1,286 |  | 1 | 1,223 | 1,224
State and political |  |  |  |  |  |  |
subdivision loans | - | 572 | 572 |  | - | 545 | 545
Unallocated | - | 349 | 349 |  | - | 188 | 188
Total | $ 188 | $ 6,734 | $ 6,922 |  | $ 98 | $ 6,717 | $ 6,815
Roll forward of allowance for loan losses by portfolio segment | The following tables roll forward the balance of the ALLL by portfolio segment for the three month periods ended March 31, 2015 and 2014, respectively (in thousands):
| Balance at December 31, 2014 | Charge-offs | Recoveries | Provision | Balance at March 31, 2015
Real estate loans: |  |  |  |  |
Residential | $ 878 | $ (17) | $ - | $ 62 | $ 923
Commercial and agricultural | 3,870 | - | 4 | (175) | 3,699
Construction | 26 | - | - | (15) | 11
Consumer | 84 | (7) | 8 | (3) | 82
Other commercial and agricultural loans | 1,224 | (1) | - | 63 | 1,286
State and political |  |  |  | - |
subdivision loans | 545 | - | - | 27 | 572
Unallocated | 188 | - | - | 161 | 349
Total | $ 6,815 | $ (25) | $ 12 | $ 120 | $ 6,922
| Balance at December 31, 2013 | Charge-offs | Recoveries | Provision | Balance at March 31, 2014
Real estate loans: |  |  |  |  |
Residential | $ 946 | $ (38) | $ - | $ (22) | $ 886
Commercial and agricultural | 4,558 | (10) | 2 | (20) | 4,530
Construction | 50 | - | - | (42) | 8
Consumer | 105 | (8) | 9 | (23) | 83
Other commercial and agricultural loans | 942 | - | - | 231 | 1,173
State and political |  |  |  | - |
subdivision loans | 330 | - | - | 66 | 396
Unallocated | 167 | - | - | (10) | 157
Total | $ 7,098 | $ (56) | $ 11 | $ 180 | $ 7,233

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=35738203&loc=SL6953659-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953803-111525 + Details
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