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3. Loans (Tables) | 6 Months Ended
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Jun. 30, 2013
Loans Tables |
Major classifications of loans |
(Dollars in thousands) |  |  |
|  | June 30, 2013 |  | December 31, 2012
Real estate loans |  |  |
Construction and land development | $ | 70,112 |  | 73,176
Single-family residential |  | 192,601 |  | 195,003
Single-family residential - |  |  |  |
| Banco de la Gente stated income |  | 50,454 |  | 52,019
Commercial |  | 191,368 |  | 200,633
Multifamily and farmland |  | 10,918 |  | 8,951
Total real estate loans |  | 515,453 |  | 529,782
Loans not secured by real estate |  |  |  |
Commercial loans |  | 66,161 |  | 64,295
Farm loans |  | 24 |  | 11
Consumer loans |  | 9,903 |  | 10,148
All other loans |  | 16,531 |  | 15,738
Total loans |  | 608,072 |  | 619,974
Less allowance for loan losses |  | 14,029 |  | 14,423
Net loans | $ | 594,043 |  | 605,551
Age analysis of past due loans, by loan type |
June 30, 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 | $ | 505 |  | 6,061 |  | 6,566 |  | 63,546 |  | 70,112 |  | -
Single-family residential |  | 3,148 |  | 3,083 |  | 6,231 |  | 186,370 |  | 192,601 |  | 1,376
Single-family residential - |  |  |  |  |  |  |  |  |  |  |  |
| Banco de la Gente stated income |  | 4,647 |  | 2,249 |  | 6,896 |  | 43,558 |  | 50,454 |  | 1,476
Commercial |  | 494 |  | - |  | 494 |  | 190,874 |  | 191,368 |  | -
Multifamily and farmland |  | 186 |  | - |  | 186 |  | 10,732 |  | 10,918 |  | -
Total real estate loans |  | 8,980 |  | 11,393 |  | 20,373 |  | 495,080 |  | 515,453 |  | 2,852
Loans not secured by real estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | 332 |  | 162 |  | 494 |  | 65,667 |  | 66,161 |  | -
Farm loans |  | - |  | - |  | - |  | 24 |  | 24 |  | -
Consumer loans |  | 211 |  | 13 |  | 224 |  | 9,679 |  | 9,903 |  | 8
All other loans |  | - |  | - |  | - |  | 16,531 |  | 16,531 |  | -
Total loans | $ | 9,523 |  | 11,568 |  | 21,091 |  | 586,981 |  | 608,072 |  | 2,860
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
Farm loans |  | - |  | - |  | - |  | 11 |  | 11 |  | -
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) |  |  |  |
|  | June 30, 2013 |  | December 31, 2012
Real estate loans |  |  |  |
Construction and land development | $ | 7,692 |  | 9,253
Single-family residential |  | 3,992 |  | 2,491
Single-family residential - |  |  |  |  |
| Banco de la Gente stated income |  | 2,138 |  | 2,232
Commercial |  | 1,741 |  | 3,263
Total real estate loans |  | 15,563 |  | 17,239
Loans not secured by real estate |  |  |  |  |
Commercial loans |  | 510 |  | 344
Consumer loans |  | 34 |  | 47
Total | $ | 16,107 |  | 17,630
Impaired loans |
June 30, 2013 |  |  |  |  |  |  |  |  |  |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  | Average Outstanding Impaired Loans
| Unpaid Contractual Principal Balance |  | Recorded Investment With No Allowance |  | Recorded Investment With Allowance |  | Recorded Investment in Impaired Loans |  | Related Allowance |  | Three Months Ended June 30, 2012 |  | Three Months Ended June 30, 2013 |  | Six Months Ended June 30, 2012 |  | Six Months Ended June 30, 2013
Real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development | $ | 11,676 |  | 1,866 |  | 6,465 |  | 8,331 |  | 63 |  | 14,990 |  | 9,222 |  | 14,500 |  | 9,422
Single-family residential |  | 9,152 |  | 270 |  | 8,176 |  | 8,446 |  | 444 |  | 7,515 |  | 8,926 |  | 6,930 |  | 8,662
Single-family residential - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banco de la Gente stated income |  | 21,679 |  | - |  | 20,785 |  | 20,785 |  | 1,259 |  | 21,327 |  | 20,921 |  | 20,752 |  | 20,947
Commercial |  | 3,772 |  | 3,125 |  | 308 |  | 3,433 |  | 4 |  | 4,872 |  | 4,143 |  | 4,919 |  | 4,441
Multifamily and farmland |  | 186 |  | - |  | 186 |  | 186 |  | 1 |  | 202 |  | 187 |  | 205 |  | 189
Total impaired real estate loans |  | 46,465 |  | 5,261 |  | 35,920 |  | 41,181 |  | 1,771 |  | 48,906 |  | 43,399 |  | 47,306 |  | 43,661
Loans not secured by real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | 827 |  | - |  | 773 |  | 773 |  | 14 |  | 1,222 |  | 848 |  | 1,175 |  | 878
Consumer loans |  | 320 |  | 280 |  | 38 |  | 318 |  | - |  | 41 |  | 187 |  | 79 |  | 142
Total impaired loans | $ | 47,612 |  | 5,541 |  | 36,731 |  | 42,272 |  | 1,785 |  | 50,169 |  | 44,434 |  | 48,560 |  | 44,681
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 |
(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 |
Six months ended June 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 4,399 |  | 3,231 |  | 1,998 |  | 2,049 |  | 28 |  | 1,088 |  | - |  | 245 |  | 1,385 |  | 14,423 |
Charge-offs |  | (715 | ) | (636 | ) | (224 | ) | (275 | ) | - |  | (382 | ) | - |  | (281 | ) | - |  | (2,513 | )
Recoveries |  | 26 |  | 44 |  | 70 |  | 50 |  | - |  | 25 |  | - |  | 78 |  | - |  | 293 |
Provision |  | 1,015 |  | 665 |  | 80 |  | 34 |  | 6 |  | 91 |  | - |  | 187 |  | (252 | ) | 1,826 |
Ending balance | $ | 4,725 |  | 3,304 |  | 1,924 |  | 1,858 |  | 34 |  | 822 |  | - |  | 229 |  | 1,133 |  | 14,029 |
Three months ended June 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 4,785 |  | 3,182 |  | 1,976 |  | 1,811 |  | 30 |  | 1,209 |  | - |  | 232 |  | 1,187 |  | 14,412 |
Charge-offs |  | (218 | ) | (272 | ) | (72 | ) | (275 | ) | - |  | (361 | ) | - |  | (134 | ) | - |  | (1,332 | )
Recoveries |  | 25 |  | 26 |  | 70 |  | 2 |  | - |  | 14 |  | - |  | 43 |  | - |  | 180 |
Provision |  | 133 |  | 368 |  | (50 | ) | 320 |  | 4 |  | (40 | ) | - |  | 88 |  | (54 | ) | 769 |
Ending balance | $ | 4,725 |  | 3,304 |  | 1,924 |  | 1,858 |  | 34 |  | 822 |  | - |  | 229 |  | 1,133 |  | 14,029 |
Allowance for loan losses June 30, 2013: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 6 |  | 343 |  | 1,234 |  | - |  | - |  | - |  | - |  | - |  | - |  | 1,583 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | 4,719 |  | 2,961 |  | 690 |  | 1,858 |  | 34 |  | 822 |  | - |  | 229 |  | 1,133 |  | 12,446 |
Ending balance | $ | 4,725 |  | 3,304 |  | 1,924 |  | 1,858 |  | 34 |  | 822 |  | - |  | 229 |  | 1,133 |  | 14,029 |
Loans June 30, 2013: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | $ | 70,112 |  | 192,601 |  | 50,454 |  | 191,368 |  | 10,918 |  | 66,161 |  | 24 |  | 26,434 |  | - |  | 608,072 |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 7,626 |  | 3,480 |  | 19,912 |  | 3,125 |  | - |  | - |  | - |  | 279 |  | - |  | 34,422 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 62,486 |  | 189,121 |  | 30,542 |  | 188,243 |  | 10,918 |  | 66,161 |  | 24 |  | 26,155 |  | - |  | 573,650 |
(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 |
Six months ended June 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 7,182 |  | 3,253 |  | 2,104 |  | 1,731 |  | 13 |  | 1,029 |  | 255 |  | 1,037 |  | 16,604 |
Charge-offs |  | (2,381 | ) | (490 | ) | (371 | ) | (523 | ) | - |  | (343 | ) | (268 | ) | - |  | (4,376 | )
Recoveries |  | 218 |  | 69 |  | - |  | 374 |  | - |  | 11 |  | 88 |  | - |  | 760 |
Provision |  | 2,626 |  | 70 |  | 491 |  | (66 | ) | - |  | (68 | ) | 116 |  | 483 |  | 3,652 |
Ending balance | $ | 7,645 |  | 2,902 |  | 2,224 |  | 1,516 |  | 13 |  | 629 |  | 191 |  | 1,520 |  | 16,640 |
Three months ended June 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 6,880 |  | 3,101 |  | 2,180 |  | 1,434 |  | 13 |  | 1,004 |  | 250 |  | 1,750 |  | 16,612 |
Charge-offs |  | (530 | ) | (385 | ) | (198 | ) | (452 | ) | - |  | (104 | ) | (111 | ) | - |  | (1,780 | )
Recoveries |  | 100 |  | 67 |  | - |  | - |  | - |  | 6 |  | 32 |  | - |  | 205 |
Provision |  | 1,195 |  | 119 |  | 242 |  | 534 |  | - |  | (277 | ) | 20 |  | (230 | ) | 1,603 |
Ending balance | $ | 7,645 |  | 2,902 |  | 2,224 |  | 1,516 |  | 13 |  | 629 |  | 191 |  | 1,520 |  | 16,640 |
Allowance for loan losses June 30, 2012: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 1,101 |  | 78 |  | 1,286 |  | - |  | - |  | - |  | - |  | - |  | 2,465 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | 6,544 |  | 2,824 |  | 938 |  | 1,516 |  | 13 |  | 629 |  | 191 |  | 1,520 |  | 14,175 |
Ending balance | $ | 7,645 |  | 2,902 |  | 2,224 |  | 1,516 |  | 13 |  | 629 |  | 191 |  | 1,520 |  | 16,640 |
Loans June 30, 2012: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | $ | 86,498 |  | 202,528 |  | 52,811 |  | 207,245 |  | 5,285 |  | 59,416 |  | 29,032 |  | - |  | 642,815 |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 19,789 |  | 3,132 |  | 20,320 |  | 4,961 |  | - |  | 362 |  | - |  | - |  | 48,564 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 66,709 |  | 199,396 |  | 32,491 |  | 202,284 |  | 5,285 |  | 59,054 |  | 29,032 |  | - |  | 594,251 |
Credit risk profile of each loan type based on internally assigned risk grade |
June 30, 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 |  | 22,480 |  | - |  | - |  | - |  | 366 |  | - |  | 1,170 |  | - |  | 24,026
2- High Quality |  | 5,410 |  | 56,324 |  | - |  | 27,309 |  | 245 |  | 8,318 |  | - |  | 3,768 |  | 2,216 |  | 103,590
3- Good Quality |  | 27,715 |  | 66,297 |  | 23,549 |  | 110,755 |  | 6,745 |  | 44,279 |  | 24 |  | 4,149 |  | 14,311 |  | 297,824
4- Management Attention | 15,821 |  | 32,514 |  | 10,461 |  | 42,868 |  | 1,182 |  | 11,916 |  | - |  | 436 |  | 4 |  | 115,202
5- Watch |  | 8,934 |  | 7,551 |  | 3,671 |  | 6,139 |  | 2,560 |  | 721 |  | - |  | 50 |  | - |  | 29,626
6- Substandard |  | 12,222 |  | 7,435 |  | 12,773 |  | 4,297 |  | 186 |  | 469 |  | - |  | 324 |  | - |  | 37,706
7- Doubtful |  | - |  | - |  | - |  | - |  | - |  | 92 |  | - |  | 6 |  | - |  | 98
8- Loss |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | -
Total | $ | 70,112 |  | 192,601 |  | 50,454 |  | 191,368 |  | 10,918 |  | 66,161 |  | 24 |  | 9,903 |  | 16,531 |  | 608,072
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 | The following table presents an analysis of TDR loans by loan type as of June 30, 2013:
June 30, 2013 |  |  |  |  |
(Dollars in thousands) |  |  |  |  |
| Number of Contracts |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Real estate loans |  |  |  |  |
Construction and land development | 16 |  | $ | 10,498 |  | 7,597
Single-family residential | 31 |  |  | 1,878 |  | 2,833
Single-family residential - |  |  |  |  |  |
Banco de la Gente stated income | 72 |  |  | 8,248 |  | 6,947
Commercial | 5 |  |  | 2,015 |  | 1,741
Multifamily and farmland | 1 |  |  | 322 |  | 186
Total real estate TDR loans | 125 |  |  | 22,961 |  | 19,304
Loans not secured by real estate |  |  |  |  |  |
Commercial loans | 10 |  |  | 854 |  | 590
Consumer loans | 1 |  |  | 2 |  | -
Total TDR loans | 136 |  | $ | 23,817 |  | 19,894
The following tables present an analysis of loan modifications during the three and six months ended June 30, 2013:
Three months ended June 30, 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 |  | $ | 724 |  | 712
Single-family residential | 2 |  | $ | 78 |  | 78
Single-family residential - |  |  |  |  |  |
Banco de la Gente stated income | 1 |  | $ | 140 |  | 138
Total real estate TDR loans | 4 |  |  | 942 |  | 928
Total TDR loans | 4 |  | $ | 942 |  | 928
Six months ended June 30, 2013 |  |  |  |  |
(Dollars in thousands) |  |  |  |  |
| Number of Contracts |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Real estate loans |  |  |  |  |
Construction and land development | 2 |  | $ | 841 |  | 829
Single-family residential | 2 |  | $ | 78 |  | 78
Single-family residential - |  |  |  |  |  |
Banco de la Gente stated income | 4 |  | $ | 472 |  | 469
Total real estate TDR loans | 8 |  |  | 1,391 |  | 1,376
Total TDR loans | 8 |  | $ | 1,391 |  | 1,376
The following table presents an analysis of loan modifications during the three and six months ended June 30, 2012:
Three months ended June 30, 2012 |  |  |  |  |
(Dollars in thousands) |  |  |  |  |
| Number of Contracts |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Real estate loans |  |  |  |  |
Single-family residential | 1 |  | $ | 125 |  | 125
Single-family residential - |  |  |  |  |  |
Banco de la Gente stated income | 8 |  | $ | 855 |  | 848
Total real estate TDR loans | 9 |  |  | 980 |  | 973
Loans not secured by real estate |  |  |  |  |  |
Commercial loans | 1 |  |  | 14 |  | 14
Total TDR loans | 10 |  | $ | 994 |  | 987
Six months ended June 30, 2012 |  |  |  |  |
(Dollars in thousands) |  |  |  |  |
| Number of Contracts |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Real estate loans |  |  |  |  |
Single-family residential | 1 |  | $ | 125 |  | 125
Single-family residential - |  |  |  |  |  |
Banco de la Gente stated income | 15 |  | $ | 1,587 |  | 1,578
Total real estate TDR loans | 16 |  |  | 1,712 |  | 1,703
Loans not secured by real estate |  |  |  |  |  |
Commercial loans | 1 |  |  | 14 |  | 14
Total TDR loans | 17 |  | $ | 1,726 |  | 1,717
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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