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Loans Receivable and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2018

Loans Receivable and Allowance for Loan Losses [Abstract]

Composition Of The Loan Portfolio






	September 30, 2018						December 31, 2017
Real Estate Loans:
Residential	$	233,768		28.5	%		$	235,759		30.8	%
Commercial		363,358		44.4				342,934		44.9
Construction		16,217		2.0				17,228		2.3
Commercial, financial and agricultural		104,868		12.8				97,461		12.7
Consumer loans to individuals		101,068		12.3				70,953		9.3
Total loans		819,279		100.0	%			764,335		100.0	%
Deferred fees, net		(82)						(243)
Total loans receivable		819,197						764,092
Allowance for loan losses		(8,280)						(7,634)
Net loans receivable	$	810,917					$	756,458



Information Regarding Loans Acquired and Accounted for in Accordance With ASC 310-30



	September 30, 2018			December 31, 2017

Outstanding Balance	$	1,106		$	1,444
Carrying Amount	$	925		$	1,174



Summary Of Amount Of Loans In Each Category That Were Individually And Collectively Evaluated For Impairment



	Real Estate Loans
										Commercial			Consumer
	Residential			Commercial			Construction			Loans			Loans			Total
September 30, 2018	(In thousands)

  Individually evaluated for impairment	$	23		$	1,198		$	-		$	-		$	-		$	1,221
Loans acquired with deteriorated credit quality		658			267			-			-			-			925
  Collectively evaluated for impairment		233,087			361,893			16,217			104,868			101,068			817,133
Total Loans	$	233,768		$	363,358		$	16,217		$	104,868		$	101,068		$	819,279







	Real Estate Loans
										Commercial			Consumer
	Residential			Commercial			Construction			Loans			Loans			Total
	(In thousands)
December 31, 2017

Individually evaluated for impairment	$	23		$	1,224		$	-		$	-		$	-		$	1,247
Loans acquired with deteriorated credit quality		833			341			-			-			-			1,174
Collectively evaluated for impairment		234,903			341,369			17,228			97,461			70,953			761,914
Total Loans	$	235,759		$	342,934		$	17,228		$	97,461		$	70,953		$	764,335



Impaired Loans and Related Interest Income by Loan Portfolio Class

The following table includes the recorded investment and unpaid principal balances for impaired loans with the associated allowance amount, if applicable. 





				Unpaid
	Recorded			Principal			Associated
	Investment			Balance			Allowance
September 30, 2018					(in thousands)
With no related allowance recorded:
Real Estate Loans
  Residential	$	23		$	28		$	-
  Commercial		1,198			1,534			-
Subtotal		1,221			1,562			-
Total:
Real Estate Loans
  Residential		23			28			-
  Commercial		1,198			1,534			-
Total Impaired Loans	$	1,221		$	1,562		$	-







				Unpaid
	Recorded			Principal			Associated
	Investment			Balance			Allowance
December 31, 2017					(in thousands)
With no related allowance recorded:
Real Estate Loans
Residential	$	23		$	28		$	-
Commercial		1,224			1,496			-
Subtotal		1,247			1,524			-
Total:
Real Estate Loans
Residential		23			28			-
Commercial		1,224			1,496			-
Total Impaired Loans	$	1,247		$	1,524		$	-







The following table presents the average recorded investment in impaired loans and the related amount of interest income recognized during the three-month periods ended September 30, 2018 and 2017, respectively (in thousands):









	Average Recorded						Interest Income
	Investment						Recognized
	2018			2017			2018			2017

Real Estate Loans:
Residential	$	23		$	23		$	-		$	-
Commercial		1,217			1,423			15			12
Total	$	1,240		$	1,446		$	15		$	12









The following table presents the average recorded investment in impaired loans and the related amount of interest income recognized during the nine-month periods ended September 30, 2018 and 2017, respectively (in thousands):







	Average Recorded						Interest Income
	Investment						Recognized
	2018			2017			2018			2017

Real Estate Loans:
Residential	$	23		$	23		$	-		$	-
Commercial		1,195			1,465			45			41
Total	$	1,218		$	1,488		$	45		$	41





Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating



				Special							Doubtful
	Pass			Mention			Substandard			or Loss			Total
September 30, 2018
Commercial real estate loans	$	349,486		$	9,598		$	4,274		$	-		$	363,358
Commercial loans		104,272			337			259			-			104,868
Total	$	453,758		$	9,935		$	4,533		$	-		$	468,226







				Special							Doubtful
	Pass			Mention			Substandard			or Loss			Total
December 31, 2017
Commercial real estate loans	$	329,617		$	9,680		$	3,637		$	-		$	342,934
Commercial loans		97,389			16			56			-			97,461
Total	$	427,006		$	9,696		$	3,693		$	-		$	440,395





For residential real estate loans, construction loans and consumer loans, the Company evaluates credit quality based on the performance of the individual credits.  The following table presents the recorded investment in the loan classes based on payment activity as of September 30, 2018 and December 31, 2017 (in thousands):







	Performing			Nonperforming			Total
September 30, 2018
Residential real estate loans	$	232,870		$	898		$	233,768
Construction		16,217			-			16,217
Consumer loans		101,068			-			101,068
Total	$	350,155		$	898		$	351,053







	Performing			Nonperforming			Total
December 31, 2017
Residential real estate loans	$	233,966		$	1,793		$	235,759
Construction		17,228			-			17,228
Consumer loans		70,953			-			70,953
Total	$	322,147		$	1,793		$	323,940



Loan Portfolio Summarized by the Past Due Status



	Current			31-60 Days Past Due			61-90 Days Past Due			Greater than 90 Days Past Due and still accruing			Non-Accrual			Total Past Due and Non-Accrual			Total Loans
September 30, 2018
Real Estate loans
Residential	$	232,068		$	631		$	171		$	-		$	898		$	1,700		$	233,768
Commercial		362,845			238			58			-			217			513			363,358
Construction		16,217			-			-			-			-			-			16,217
Commercial  loans		104,794			50			24			-			-			74			104,868
Consumer  loans		100,888			168			12			-			-			180			101,068
Total	$	816,812		$	1,087		$	265		$	-		$	1,115		$	2,467		$	819,279







	Current			31-60 Days Past Due			61-90 Days Past Due			Greater than 90 Days Past Due and still accruing			Non-Accrual			Total Past Due and Non-Accrual			Total Loans
December 31, 2017
Real Estate loans
Residential	$	233,291		$	594		$	81		$	87		$	1,706		$	2,468		$	235,759
Commercial		341,602			646			-			409			277			1,332			342,934
Construction		17,228			-			-			-			-			-			17,228
Commercial  loans		97,424			10			27			-			-			37			97,461
Consumer  loans		70,869			60			24			-			-			84			70,953
Total	$	760,414		$	1,310		$	132		$	496		$	1,983		$	3,921		$	764,335



Allowance for Loan Losses and Recorded Investment in Financing Receivables













































Management reviews the loan portfolio on a quarterly basis using a defined, consistently applied process in order to make appropriate and timely adjustments to the allowance for loan losses.  When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the allowance. 



As of September 30, 2018, the allocation of the allowance pertaining to commercial real estate loans is slightly lower than the allocation as of December 31, 2017 despite an increase in loan balances of $20.4 million.  This decrease is due to a reduction in the quantitative factor for historical losses which decreased from 0.74% as of December 31, 2017 to 0.45% at September 30, 2018.  The decrease was partially offset by the addition of a qualitative factor for potential risk in large balance loans.



The following table presents the allowance for loan losses by the classes of the loan portfolio:















(In thousands)	Residential Real Estate			Commercial Real Estate			Construction			Commercial			Consumer			Total
Beginning balance, December 31, 2017	$	1,272		$	5,265		$	90		$	463		$	544		$	7,634
Charge Offs		(85)			(244)			-			(246)			(189)			(764)
Recoveries		2			33			-			-			25			60
Provision for loan losses		185			205			4			497			459			1,350
Ending balance, September 30, 2018	$	1,374		$	5,259		$	94		$	714		$	839		$	8,280
Ending balance individually evaluated for impairment	$	-		$	-		$	-		$	-		$	-		$	-
Ending balance collectively evaluated for impairment	$	1,374		$	5,259		$	94		$	714		$	839		$	8,280


(In thousands)	Residential Real Estate			Commercial Real Estate			Construction			Commercial			Consumer			Total
Beginning balance, June 30, 2018	$	1,455		$	5,247		$	128		$	690		$	806		$	8,326
Charge Offs		(10)			(110)			-			(241)			(72)			(433)
Recoveries		-			2			-			-			10			12
Provision for loan losses		(71)			120			(34)			265			95			375
Ending balance, September 30, 2018	$	1,374		$	5,259		$	94		$	714		$	839		$	8,280















(In thousands)	Residential Real Estate			Commercial Real Estate			Construction			Commercial			Consumer			Total
Beginning balance, December 31, 2016	$	1,092		$	4,623		$	78		$	307		$	363		$	6,463
Charge Offs		(83)			(308)			(28)			-			(127)			(546)
Recoveries		4			5			12			-			22			43
Provision for loan losses		340			979			35			165			281			1,800
Ending balance, September 30, 2017	$	1,353		$	5,299		$	97		$	472		$	539		$	7,760
Ending balance individually evaluated for impairment	$	-		$	-		$	-		$	-		$	-		$	-
Ending balance collectively evaluated for impairment	$	1,353		$	5,299		$	97		$	472		$	539		$	7,760


(In thousands)	Residential Real Estate			Commercial Real Estate			Construction			Commercial			Consumer			Total
Beginning balance, June 30, 2017	$	1,254		$	5,228		$	93		$	360		$	484		$	7,419
Charge Offs		-			(212)			(15)			-			(45)			(272)
Recoveries		1			1			-			-			11			13
Provision for loan losses		98			282			19			112			89			600
Ending balance, September 30, 2017	$	1,353		$	5,299		$	97		$	472		$	539		$	7,760





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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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