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3. Loans (Tables)

12 Months Ended

Dec. 31, 2012

Loans Tables

Major classifications of loans

(Dollars in thousands)
		December 31, 2012				December 31, 2011
Real estate loans
Construction and land development		$	73,176				93,812
Single-family residential			195,003				212,993
Single-family residential -
Banco de la Gente stated income			52,019				54,058
Commercial			200,633				214,415
Multifamily and farmland			8,951				4,793
Total real estate loans			529,782				580,071
Commercial loans (not secured by real estate)			64,295				60,646
Farm loans (not secured by real estate)			11				-
Consumer loans (not secured by real estate)			10,148				10,490
All other loans (not secured by real estate)			15,738				19,290
Total loans			619,974				670,497
Less allowance for loan losses			14,423				16,604
Total net loans		$	605,551				653,893

Age analysis of past due loans, by loan type

December 31, 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		$	1,280				6,858				8,138				65,038				73,176				-
Single-family residential			4,316				1,548				5,864				189,139				195,003				-
Single-family residential -
Banco de la Gente stated income			11,077				3,659				14,736				37,283				52,019				2,378
Commercial			1,720				1,170				2,890				197,743				200,633				-
Multifamily and farmland			7				-				7				8,944				8,951				-
Total real estate loans			18,400				13,235				31,635				498,147				529,782				2,378
Commercial loans (not secured by real estate)			888				66				954				63,341				64,295				23
Farm loans (not secured by real estate)			-				-				-				11				11				-
Consumer loans (not secured by real estate)			250				10				260				9,888				10,148				2
All other loans (not secured by real estate)			-				-				-				15,738				15,738				-
Total loans		$	19,538				13,311				32,849				587,125				619,974				2,403

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			4,612				1,434				6,046				206,947				212,993				107
Single-family residential -
Banco de la Gente stated income			11,924				4,755				16,679				37,379				54,058				2,602
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

(Dollars in thousands)
		December 31, 2012				December 31, 2011
Real estate loans
Construction and land development		$	9,253				13,257
Single-family residential			2,491				2,380
Single-family residential -
Banco de la Gente stated income			2,232				3,142
Commercial			3,263				2,451
Total real estate loans			17,239				21,230
Commercial loans (not secured by real estate)			344				403
Consumer loans (not secured by real estate)			47				152
Total		$	17,630				21,785

Impaired loans

December 31, 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		$	17,738				11,795				680				12,475				61				12,810
Single-family residential			9,099				766				7,799				8,565				177				7,590
Single-family residential -
Banco de la Gente stated income			21,806				-				21,000				21,000				1,278				21,158
Commercial			5,830				4,569				467				5,036				6				5,433
Multifamily and farmland			193				-				193				193				1				200
Total impaired real estate loans			54,666				17,130				30,139				47,269				1,523				47,191
Commercial loans (not secured by real estate)			983				347				592				939				12				1,125
Consumer loans (not secured by real estate)			68				-				66				66				1				41
Total impaired loans		$	55,717				17,477				30,797				48,274				1,536				48,357

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			6,361				969				5,117				6,086				131				6,324
Single-family residential -
Banco de la Gente stated income			20,021				-				19,602				19,602				1,296				18,778
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

(Dollars in thousands)
		Fair Value Measurements December 31, 2012				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation				Total Gains/(Losses) for the Year Ended December 31, 2012
Impaired loans		$	46,738				-				-				46,738				(7,986	)
Other real estate		$	6,254				-				-				6,254				(1,136	)

(Dollars in thousands)
		Fair Value Measurements December 31, 2011				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation				Total Gains/(Losses) for the Year Ended December 31, 2011
Impaired loans		$	49,901				-				-				49,901				(11,864	)
Other real estate		$	7,576				-				-				7,576				(1,322	)

Changes in the allowance for loan losses

Year ended December 31, 2012
(Dollars in thousands)
		Real Estate Loans
		Construction and Land Development				Single-Family Residential				Single-Family Residential - Banco de la Gente Stated Income				Commercial				Multifamily and Farmland				Commercial				Farm				Consumer and All Other				Unallocated				Total
Allowance for loan losses:
Beginning balance		$	7,182				3,253				2,104				1,731				13				1,029				-				255				1,037				16,604
Charge-offs			(4,728	)			(886	)			(668	)			(937	)			-				(555	)			-				(557	)			-				(8,331	)
Recoveries			528				72				-				374				-				104				-				148				-				1,226
Provision			1,417				792				562				881				15				510				-				399				348				4,924
Ending balance		$	4,399				3,231				1,998				2,049				28				1,088				-				245				1,385				14,423
Ending balance: individually
evaluated for impairment		$	24				84				1,254				-				-				-				-				-				-				1,362
Ending balance: collectively
evaluated for impairment			4,375				3,147				744				2,049				28				1,088				-				245				1,385				13,061
Ending balance		$	4,399				3,231				1,998				2,049				28				1,088				-				245				1,385				14,423
Loans:
Ending balance		$	73,176				195,003				52,019				200,633				8,951				64,295				11				25,886				-				619,974
Ending balance: individually
evaluated for impairment		$	11,961				3,885				20,024				4,569				-				346				-				-				-				40,785
Ending balance: collectively
evaluated for impairment		$	61,215				191,118				31,995				196,064				8,951				63,949				11				25,886				-				579,189

Year ended December 31, 2011
(Dollars in thousands)
			Real Estate Loans
			Construction and Land Development				Single-Family Residential				Single-Family Residential - Banco de la Gente Stated Income				Commercial				Multifamily and Farmland				Commercial				Consumer and All Other				Unallocated				Total
Allowance for loan losses:
Beginning balance		$	5,774				3,992				2,105				1,409				17				1,174				430				592				15,493
Charge-offs			(7,164	)			(2,233	)			(692	)			(1,271	)			—				(314	)			(586	)			—				(12,260	)
Recoveries			241				184				17				24				—				121				152				—				739
Provision			8,331				1,310				674				1,569				(4	)			48				259				445				12,632
Ending balance		$	7,182				3,253				2,104				1,731				13				1,029				255				1,037				16,604
Ending balance: individually
evaluated for impairment		$	1,250				46				1,243				—				—				—				—				—				2,539
Ending balance: collectively
evaluated for impairment			5,932				3,207				861				1,731				13				1,029				255				1,037				14,065
Ending balance		$	7,182				3,253				2,104				1,731				13				1,029				255				1,037				16,604
Loans:
Ending balance		$	93,812				212,993				54,058				214,415				4,793				60,646				29,780				—				670,497
Ending balance: individually
evaluated for impairment		$	20,280				2,352				18,309				3,845				—				—				—				—				44,786
Ending balance: collectively
evaluated for impairment		$	73,532				210,641				35,749				210,570				4,793				60,646				29,780				—				625,711

(Dollars in thousands)
		2010
Balance at beginning of year		$	15,413
Amounts charged off			(16,911	)
Recoveries on amounts previously charged off			553
Provision for loan losses			16,438
Balance at end of year		$	15,493

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

December 31, 2012
(Dollars in thousands)
		Real Estate Loans
		Construction and Land Development				Single-Family Residential				Single-Family Residential - Banco de la Gente Stated Income				Commercial				Multifamily and Farmland				Commercial				Farm				Consumer				All Other				Total
1- Excellent Quality		$	11				24,662				-				-				-				672				-				1,239				-				26,584
2- High Quality			4,947				56,829				-				27,511				32				9,260				-				4,122				2,317				105,018
3- Good Quality			24,952				62,018				24,724				114,001				4,975				40,814				11				4,186				13,416				289,097
4- Management Attention			18,891				35,727				11,366				47,603				3,039				11,844				-				392				5				128,867
5- Watch			9,580				9,504				3,597				6,911				712				976				-				134				-				31,414
6- Substandard			14,795				6,263				12,332				4,607				193				729				-				70				-				38,989
7- Low Substandard			-				-				-				-				-				-				-				-				-				-
8- Doubtful			-				-				-				-				-				-				-				-				-				-
9- Loss			-				-				-				-				-				-				-				5				-				5
Total		$	73,176				195,003				52,019				200,633				8,951				64,295				11				10,148				15,738				619,974

December 31, 2011
(Dollars in thousands)
		Real Estate Loans
		Construction and Land Development				Single-Family Residential				Single-Family Residential - Banco de la Gente Stated Income				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				74,824				25,564				136,137				3,448				36,585				4,259				16,509				325,001
4- Management Attention			28,138				35,233				15,020				40,312				358				12,882				429				7				132,379
5- Watch			15,923				6,141				5,626				2,795				728				622				89				-				31,924
6- Substandard			16,696				6,504				7,848				9,665				209				1,041				154				-				42,117
7- Low Substandard			-				-				-				-				-				-				-				-				-
8- Doubtful			-				-				-				-				-				-				-				-				-
9- Loss			-				-				-				-				-				-				145				-				145
Total		$	93,812				212,993				54,058				214,415				4,793				60,646				10,490				19,290				670,497

Analysis of TDR loans by loan type

December 31, 2012
(Dollars in thousands)
		Number of Contracts				Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment
Real estate loans
Construction and land development			11			$	10,465				6,633
Single-family residential			33				3,014				4,084
Single-family residential -
Banco de la Gente stated income			122				13,459				12,170
Commercial			4				1,457				682
Total real estate TDR loans			170				28,395				23,569
Commercial loans (not secured by real estate)			9				511				368
Consumer loans (not secured by real estate)			1				2				-
Total TDR loans			180			$	28,908				23,937

December 31, 2012
(Dollars in thousands)
		Number of Contracts				Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment
Real estate loans
Single-family residential			5			$	674				673
Single-family residential -
Banco de la Gente stated income			20				2,046				1,992
Total real estate TDR loans			25				2,720				2,665
Commercial loans (not secured by real estate)			1				14				13
Total TDR loans			26			$	2,734				2,678

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			48				4,684				5,244
Single-family residential -
Banco de la Gente stated income			193				20,857				19,602
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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