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3. Loans (Tables)

6 Months Ended

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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-Section 50

-Paragraph 33

-URI http://asc.fasb.org/extlink&oid=28368275&loc=SL6953676-111524

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