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Loans (Tables)

6 Months Ended

Jun. 30, 2012

Loans [Abstract]

Major classifications of loans

Major classifications of loans at June 30, 2012 and December 31, 2011 are summarized as follows:

(Dollars in thousands)
	June 30, 2012			December 31, 2011
Real estate loans
Construction and land development	$	86,498		93,812
Single-family residential		255,339		267,051
Commercial		207,245		214,415
Multifamily and farmland		5,285		4,793
Total real estate loans		554,367		580,071
Commercial loans (not secured by real estate)		59,416		60,646
Consumer loans (not secured by real estate)		10,205		10,490
All other loans (not secured by real estate)		18,827		19,290
Total loans		642,815		670,497
Less allowance for loan losses		16,640		16,604
Total net loans	$	626,175		653,893

Age analysis of past due loans, by loan type

The following tables present an age analysis of past due loans, by loan type, as of June 30, 2012 and December 31, 2011:

June 30, 2012
(Dollars in thousands)
	Loans 30-89 Days Past Due			Loans 90 or More Days Past Due		Total Past Due Loans		Total Current Loans		Total Loans		Accruing Loans 90 or More Days Past Due
Real estate loans
Construction and land development	$	6,538		3,012		9,550		76,948		86,498		-
Single-family residential		6,711		4,175		10,886		244,453		255,339		1,797
Commercial		2,161		1,543		3,704		203,541		207,245		-
Multifamily and farmland		-		-		-		5,285		5,285		-
Total real estate loans		15,410		8,730		24,140		530,227		554,367		1,797
Commercial loans (not secured by real estate)		743		17		760		58,656		59,416		-
Consumer loans (not secured by real estate)		102		4		106		10,099		10,205		-
All other loans (not secured by real estate)		-		-		-		18,827		18,827		-
Total loans	$	16,255		8,751		25,006		617,809		642,815		1,797

December 31, 2011
(Dollars in thousands)
	Loans 30-89 Days Past Due			Loans 90 or More Days Past Due		Total Past Due Loans		Total Current Loans		Total Loans		Accruing Loans 90 or More Days Past Due
Real estate loans
Construction and land development	$	10,033		3,338		13,371		80,441		93,812		-
Single-family residential		16,536		6,189		22,725		244,326		267,051		2,709
Commercial		1,002		958		1,960		212,455		214,415		-
Multifamily and farmland		13		-		13		4,780		4,793		-
Total real estate loans		27,584		10,485		38,069		542,002		580,071		2,709
Commercial loans (not secured by real estate)		576		9		585		60,061		60,646		-
Consumer loans (not secured by real estate)		116		36		152		10,338		10,490		-
All other loans (not secured by real estate)		-		-		-		19,290		19,290		-
Total loans	$	28,276		10,530		38,806		631,691		670,497		2,709

Non-accrual loans

The following table presents the Company's non-accrual loans as of June 30, 2012 and December 31, 2011:

(Dollars in thousands)
	June 30, 2012			December 31, 2011
Real estate loans
Construction and land development	$	12,624		13,257
Single-family residential		4,626		5,522
Commercial		3,234		2,451
Multifamily and farmland		-		-
Total real estate loans		20,484		21,230
Commercial loans (not secured by real estate)		575		403
Consumer loans (not secured by real estate)		15		152
Total	$	21,074		21,785

Impaired loans

The following tables present the Company's impaired loans as of June 30, 2012 and December 31, 2011:

June 30, 2012
(Dollars in thousands)
	Unpaid Contractual Principal Balance			Recorded Investment With No Allowance		Recorded Investment With Allowance		Recorded Investment in Impaired Loans		Related Allowance		Average Outstanding Impaired Loans
Real estate loans
Construction and land development	$	28,750		12,377		7,960		20,337		2,470		14,990
Single-family residential		29,103		5,475		22,927		28,402		1,533		28,841
Commercial		6,250		5,018		663		5,681		299		4,872
Multifamily and farmland		201		201		-		201		-		202
Total impaired real estate loans		64,304		23,071		31,550		54,621		4,302		48,905
Commercial loans (not secured by real estate)		1,408		1,408		-		1,408		15		1,222
Consumer loans (not secured by real estate)		22		-		17		17		-		42
Total impaired loans	$	65,734		24,479		31,567		56,046		4,317		50,169

December 31, 2011
(Dollars in thousands)
	Unpaid Contractual Principal Balance			Recorded Investment With No Allowance		Recorded Investment With Allowance		Recorded Investment in Impaired Loans		Related Allowance		Average Outstanding Impaired Loans
Real estate loans
Construction and land development	$	28,721		14,484		6,098		20,582		3,264		17,848
Single-family residential		26,382		969		24,719		25,688		1,427		25,102
Commercial		7,717		3,845		3,139		6,984		77		4,518
Multifamily and farmland		209		-		209		209		1		214
Total impaired real estate loans		63,029		19,298		34,165		53,463		4,769		47,682
Commercial loans (not secured by real estate)		1,111		-		1,083		1,083		26		1,485
Consumer loans (not secured by real estate)		157		-		152		152		2		140
Total impaired loans	$	64,297		19,298		35,400		54,698		4,797		49,307

Changes in the allowance for loan losses

Changes in the allowance for loan losses for the six months ended June 30, 2012 and the year ended December 31, 2011 were as follows:

Six months ended June 30, 2012
(Dollars in thousands)
	Real Estate Loans
	Construction and Land Development			Single- Family Residential		Commercial		Multifamily and Farmland		Commercial		Consumer and All Other		Unallocated		Total
Allowance for loan losses:
Beginning balance	$	7,182		5,357		1,731		13		1,029		255		1,037		16,604
Charge-offs		(2,381	)	(861	)	(523	)	-		(343	)	(268	)	-		(4,376	)
Recoveries		218		69		374		-		11		88		-		760
Provision		2,626		561		(66	)	-		(68	)	116		483		3,652
Ending balance	$	7,645		5,126		1,516		13		629		191		1,520		16,640
Ending balance: individually
evaluated for impairment	$	1,101		1,364		-		-		-		-		-		2,465
Ending balance: collectively
evaluated for impairment		6,544		3,762		1,516		13		629		191		1,520		14,175
Ending balance	$	7,645		5,126		1,516		13		629		191		1,520		16,640
Loans:
Ending balance	$	86,498		255,339		207,245		5,285		59,416		29,032		-		642,815
Ending balance: individually
evaluated for impairment	$	19,789		23,452		4,961		-		362		-		-		48,564
Ending balance: collectively
evaluated for impairment	$	66,709		231,887		202,284		5,285		59,054		29,032		-		594,251

Year ended December 31, 2011
(Dollars in thousands)
	Real Estate Loans
	Construction and Land Development			Single- Family Residential		Commercial		Multifamily and Farmland		Commercial		Consumer and All Other		Unallocated		Total
Allowance for loan losses:
Beginning balance	$	5,774		6,097		1,409		17		1,174		430		592		15,493
Charge-offs		(7,164	)	(2,925	)	(1,271	)	-		(314	)	(586	)	-		(12,260	)
Recoveries		241		201		24		-		121		152		-		739
Provision		8,331		1,984		1,569		(4	)	48		259		445		12,632
Ending balance	$	7,182		5,357		1,731		13		1,029		255		1,037		16,604
Ending balance: individually
evaluated for impairment	$	1,250		1,289		-		-		-		-		-		2,539
Ending balance: collectively
evaluated for impairment		5,932		4,068		1,731		13		1,029		255		1,037		14,065
Ending balance	$	7,182		5,357		1,731		13		1,029		255		1,037		16,604
Loans:
Ending balance	$	93,812		267,051		214,415		4,793		60,646		29,780		-		670,497
Ending balance: individually
evaluated for impairment	$	20,280		20,661		3,845		-		-		-		-		44,786
Ending balance: collectively
evaluated for impairment	$	73,532		246,390		210,570		4,793		60,646		29,780		-		625,711

Credit risk profile of each loan type based on internally assigned risk grade

The following tables present the credit risk profile of each loan type based on internally assigned risk grades as of June 30, 2012 and December 31, 2011.

June 30, 2012
(Dollars in thousands)
	Real Estate Loans
	Construction and Land Development			Single- Family Residential		Commercial		Multifamily and Farmland		Commercial		Consumer		All Other		Total
1- Excellent Quality	$	193		22,425		-		-		902		1,320		-		24,840
2- High Quality		5,506		61,133		24,729		41		8,293		4,170		2,611		106,483
3- Good Quality		26,624		94,484		123,709		3,637		36,186		4,065		16,210		304,915
4- Management Attention		26,320		46,754		47,325		686		12,503		374		6		133,968
5- Watch		11,861		11,701		5,263		720		325		115		-		29,985
6- Substandard		15,994		18,842		6,219		201		1,182		161		-		42,599
7- Low Substandard		-		-		-		-		-		-		-		-
8- Doubtful		-		-		-		-		-		-		-		-
9- Loss		-		-		-		-		25		-		-		25
Total	$	86,498		255,339		207,245		5,285		59,416		10,205		18,827		642,815

December 31, 2011
(Dollars in thousands)
	Real Estate Loans
	Construction and Land Development			Single- Family Residential		Commercial		Multifamily and Farmland		Commercial		Consumer		All Other		Total
1- Excellent Quality	$	197		25,474		-		-		715		1,344		-		27,730
2- High Quality		5,183		64,817		25,506		50		8,801		4,070		2,774		111,201
3- Good Quality		27,675		100,388		136,137		3,448		36,585		4,259		16,509		325,001
4- Management Attention		28,138		50,253		40,312		358		12,882		429		7		132,379
5- Watch		15,923		11,767		2,795		728		622		89		-		31,924
6- Substandard		16,696		14,352		9,665		209		1,041		154		-		42,117
7- Low Substandard		-		-		-		-		-		-		-		-
8- Doubtful		-		-		-		-		-		-		-		-
9- Loss		-		-		-		-		-		145		-		145
Total	$	93,812		267,051		214,415		4,793		60,646		10,490		19,290		670,497

Analysis of TDR loans by loan type

The following table presents an analysis of TDR loans by loan type as of June 30, 2012 and December 31, 2011.

June 30, 2012
(Dollars in thousands)
	Number of Contracts		Pre-Modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment
Real estate loans
Construction and land development	22		$	17,661		10,990
Single-family residential	100			10,557		9,726
Commercial	7			3,829		1,648
Total real estate TDR loans	129			32,047		22,364
Commercial loans (not secured by real estate)	9			503		379
Consumer loans (not secured by real estate)	3			7		5
Total TDR loans	141		$	32,557		22,748

December 31, 2011
(Dollars in thousands)
	Number of Contracts		Pre-Modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment
Real estate loans
Construction and land development	29		$	19,762		12,840
Single-family residential	241			25,541		24,846
Commercial	15			7,200		5,013
Multifamily and Farmland	1			322		209
Total real estate TDR loans	286			52,825		42,908
Commercial loans (not secured by real estate)	21			1,711		1,083
Consumer loans (not secured by real estate)	8			124		142
Total TDR loans	315		$	54,660		44,133

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