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3. Loans (Tables)

3 Months Ended

Mar. 31, 2013

Loans Tables

Major classifications of loans

(Dollars in thousands)
	March 31, 2013			December 31, 2012
Real estate loans
Construction and land development	$	72,389		73,176
Single-family residential		194,557		195,003
Single-family residential -
Banco de la Gente stated income		51,410		52,019
Commercial		192,355		200,633
Multifamily and farmland		9,401		8,951
Total real estate loans		520,112		529,782
Loans not secured by real estate
Commercial loans		65,058		64,295
Farm loans		27		11
Consumer loans		9,339		10,148
All other loans		15,429		15,738
Total loans		609,965		619,974
Less allowance for loan losses		14,412		14,423
Net loans	$	595,553		605,551

Age analysis of past due loans, by loan type

March 31, 2013
(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	$	1,095		7,189		8,284		64,105		72,389		-
Single-family residential		4,901		2,050		6,951		187,606		194,557		48
Single-family residential -
Banco de la Gente stated income		13,425		609		14,034		37,376		51,410		-
Commercial		3,659		143		3,802		188,553		192,355		-
Multifamily and farmland		6		-		6		9,395		9,401		-
Total real estate loans		23,086		9,991		33,077		487,035		520,112		48
Loans not secured by real estate
Commercial loans		442		399		841		64,217		65,058		-
Farm loans		-		-		-		27		27		-
Consumer loans		153		15		168		9,171		9,339		2
All other loans		-		-		-		15,429		15,429		-
Total loans	$	23,681		10,405		34,086		575,879		609,965		50

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
Loans not secured by real estate
Commercial loans		888		66		954		63,341		64,295		23
Consumer loans		250		10		260		9,888		10,148		2
All other loans		-		-		-		15,738		15,738		-
Total loans	$	19,538		13,311		32,849		587,125		619,974		2,403

Non-accrual loans

(Dollars in thousands)
	March 31, 2013			December 31, 2012
Real estate loans
Construction and land development	$	9,627		9,253
Single-family residential		4,123		2,491
Single-family residential -
Banco de la Gente stated income		2,367		2,232
Commercial		2,822		3,263
Total real estate loans		18,939		17,239
Loans not secured by real estate
Commercial loans		676		344
Consumer loans		52		47
Total	$	19,667		17,630

Impaired loans

March 31, 2013
(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	$	14,514		9,238		953		10,191		149		10,006
Single-family residential		10,422		1,031		8,599		9,630		216		8,845
Single-family residential -
Banco de la Gente stated income		22,053		-		21,056		21,056		1,272		21,028
Commercial		4,895		3,971		463		4,434		7		4,840
Multifamily and farmland		189		-		189		189		1		191
Total impaired real estate loans		52,073		14,240		31,260		45,500		1,645		44,910
Loans not secured by real estate
Commercial loans		975		-		922		922		259		931
Consumer loans		59		-		56		56		1		54
Total impaired loans	$	53,107		14,240		32,238		46,478		1,905		45,895

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
Loans not secured by real estate
Commercial loans		983		347		592		939		12		1,125
Consumer loans		68		-		66		66		1		41
Total impaired loans	$	55,717		17,477		30,797		48,274		1,536		48,357

Changes in the allowance for loan losses

Three months ended March 31, 2013
(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		$	4,399		3,231		1,998		2,049		28		1,088		-		245		1,385		14,423
	Charge-offs		(497	)	(364	)	(152	)	-		-		(21	)	-		(147	)	-		(1,181	)
	Recoveries		1		18		-		48		-		11		-		35		-		113
	Provision		882		297		130		(286	)	2		131		-		99		(198	)	1,057
Ending balance		$	4,785		3,182		1,976		1,811		30		1,209		-		232		1,187		14,412
Ending balance: individually
evaluated for impairment		$	102		110		1,245		-		-		247		-		-		-		1,704
Ending balance: collectively
evaluated for impairment			4,683		3,072		731		1,811		30		962		-		232		1,187		12,708
Ending balance		$	4,785		3,182		1,976		1,811		30		1,209		-		232		1,187		14,412
Loans:
Ending balance		$	72,389		194,557		51,410		192,355		9,401		65,058		27		24,768		-		609,965
Ending balance: individually
evaluated for impairment		$	9,594		4,616		20,102		3,971		-		347		-		-		-		38,630
Ending balance: collectively
evaluated for impairment		$	62,795		189,941		31,308		188,384		9,401		64,711		27		24,768		-		571,335

Three months ended March 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		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		(1,851	)	(105	)	(173	)	(71	)	-		(239	)	(157	)	-		(2,596	)
	Recoveries		118		2		-		374		-		5		56		-		555
	Provision		1,431		(49	)	249		(600	)	-		209		96		713		2,049
Ending balance		$	6,880		3,101		2,180		1,434		13		1,004		250		1,750		16,612
Ending balance: individually
evaluated for impairment		$	967		46		1,310		-		-		-		-		-		2,323
Ending balance: collectively
evaluated for impairment			5,913		3,055		870		1,434		13		1,004		250		1,750		14,289
Ending balance		$	6,880		3,101		2,180		1,434		13		1,004		250		1,750		16,612
Loans:
Ending balance		$	90,838		206,360		53,677		212,124		4,453		62,020		28,871		-		658,343
Ending balance: individually
evaluated for impairment		$	21,045		3,556		20,407		3,357		-		408		28		-		48,801
Ending balance: collectively
evaluated for impairment		$	69,793		202,804		33,270		208,767		4,453		61,612		28,843		-		609,542

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

March 31, 2013
(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	$	10		20,856		-		-		-		381		-		1,205		-		22,452
2- High Quality		5,652		57,771		-		27,153		104		9,022		-		3,667		2,264		105,633
3- Good Quality		25,757		66,700		24,176		109,732		5,476		41,850		27		3,923		13,161		290,802
4- Management Attention		17,391		32,262		10,551		42,994		1,058		11,730		-		421		4		116,411
5- Watch		9,453		9,743		3,586		6,221		2,574		1,363		-		57		-		32,997
6- Substandard		14,126		7,225		13,097		6,255		189		712		-		66		-		41,670
7- Doubtful		-		-		-		-		-		-		-		-		-		-
8- Loss		-		-		-		-		-		-		-		-		-		-
Total	$	72,389		194,557		51,410		192,355		9,401		65,058		27		9,339		15,429		609,965

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

Analysis of TDR loans by loan type

March 31, 2013
(Dollars in thousands)
	Number of Contracts		Pre-Modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment
Real estate loans
Construction and land development	14		$	10,601		6,952
Single-family residential	34			2,177		2,599
Single-family residential -
Banco de la Gente stated income	109			12,170		10,649
Commercial	6			1,567		827
Total real estate TDR loans	163			26,515		21,027
Loans not secured by real estate
Commercial loans	15			1,257		669
Consumer loans	1			2		-
Total TDR loans	179		$	27,774		21,696

The following table presents an analysis of first quarter 2013 loan modifications included in the March 31, 2013 TDR table above.

March 31, 2013
(Dollars in thousands)
	Number of Contracts			Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Real estate loans
Construction and land development	1		$	117		117
Single-family residential -
Banco de la Gente stated income	3		$	332		331
Total real estate TDR loans	4			449		448
Total TDR loans	4		$	449		448

The following table presents an analysis of first quarter 2012 loan modifications.

March 31, 2012
(Dollars in thousands)
	Number of Contracts		Pre-Modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment
Real estate loans
Single-family residential -
Banco de la Gente stated income	7		$	732		730
Total real estate TDR loans	7			732		730
Total TDR loans	7		$	732		730

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

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
Multifamily and farmland	-			-		-
Total real estate TDR loans	170			28,395		23,569
Loans not secured by real estate
Commercial loans	9			511		368
Consumer loans	1			2		-
Total TDR loans	180		$	28,908		23,937

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