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3. Loans (Tables) | 9 Months Ended
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Sep. 30, 2013
Loans Tables |
Major classifications of loans |
(Dollars in thousands) |  |  |
| September 30, 2013 |  | December 31, 2012
Real estate loans |  |  |
Construction and land development | $ | 67,870 |  | 73,176
Single-family residential |  | 191,338 |  | 195,003
Single-family residential - |  |  |  |
Banco de la Gente stated income |  | 50,035 |  | 52,019
Commercial |  | 205,911 |  | 200,633
Multifamily and farmland |  | 11,541 |  | 8,951
Total real estate loans |  | 526,695 |  | 529,782
Loans not secured by real estate |  |  |  |
Commercial loans |  | 64,957 |  | 64,295
Farm loans |  | 22 |  | 11
Consumer loans |  | 9,754 |  | 10,148
All other loans |  | 15,633 |  | 15,738
Total loans |  | 617,061 |  | 619,974
Less allowance for loan losses |  | 13,854 |  | 14,423
Net loans | $ | 603,207 |  | 605,551
Age analysis of past due loans, by loan type |
September 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 | $ | 229 |  | 5,752 |  | 5,981 |  | 61,889 |  | 67,870 |  | -
Single-family residential |  | 4,242 |  | 1,773 |  | 6,015 |  | 185,323 |  | 191,338 |  | -
Single-family residential - |  |  |  |  |  |  |  |  |  |  |  |
Banco de la Gente stated income |  | 4,388 |  | 2,764 |  | 7,152 |  | 42,883 |  | 50,035 |  | 1,987
Commercial |  | 2,437 |  | 153 |  | 2,590 |  | 203,321 |  | 205,911 |  | -
Multifamily and farmland |  | 137 |  | 185 |  | 322 |  | 11,219 |  | 11,541 |  | 185
Total real estate loans |  | 11,433 |  | 10,627 |  | 22,060 |  | 504,635 |  | 526,695 |  | 2,172
Loans not secured by real estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | 902 |  | 62 |  | 964 |  | 63,993 |  | 64,957 |  | -
Farm loans |  | - |  | - |  | - |  | 22 |  | 22 |  | -
Consumer loans |  | 180 |  | 25 |  | 205 |  | 9,549 |  | 9,754 |  | 1
All other loans |  | - |  | - |  | - |  | 15,633 |  | 15,633 |  | -
Total loans | $ | 12,515 |  | 10,714 |  | 23,229 |  | 593,832 |  | 617,061 |  | 2,173
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) |  |  |
| September 30, 2013 |  | December 31, 2012
Real estate loans |  |  |
Construction and land development | $ | 6,993 |  | 9,253
Single-family residential |  | 3,284 |  | 2,491
Single-family residential - |  |  |  |
Banco de la Gente stated income |  | 1,748 |  | 2,232
Commercial |  | 1,969 |  | 3,263
Total real estate loans |  | 13,994 |  | 17,239
Loans not secured by real estate |  |  |  |
Commercial loans |  | 112 |  | 344
Consumer loans |  | 38 |  | 47
Total | $ | 14,144 |  | 17,630
Impaired loans |
September 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 September 30, 2012 |  | Three Months Ended September 30, 2013 |  | Nine Months Ended September 30, 2012 |  | Nine Months Ended September 30, 2013
Real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development | $ | 10,399 |  | 6,705 |  | 923 |  | 7,628 |  | 61 |  | 12,318 |  | 7,902 |  | 13,806 |  | 8,954
Single-family residential |  | 8,705 |  | 1,228 |  | 6,828 |  | 8,056 |  | 161 |  | 7,320 |  | 7,965 |  | 7,868 |  | 8,404
Single-family residential - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banco de la Gente stated income | 21,651 |  | - |  | 20,775 |  | 20,775 |  | 1,259 |  | 21,038 |  | 20,780 |  | 20,752 |  | 20,904
Commercial |  | 4,063 |  | 3,100 |  | 556 |  | 3,656 |  | 8 |  | 6,317 |  | 3,753 |  | 5,565 |  | 4,297
Multifamily and farmland |  | 185 |  | - |  | 185 |  | 185 |  | 3 |  | 200 |  | 185 |  | 201 |  | 188
Total impaired real estate loans |  | 45,003 |  | 11,033 |  | 29,267 |  | 40,300 |  | 1,492 |  | 47,193 |  | 40,585 |  | 48,192 |  | 42,747
Loans not secured by real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | 643 |  | - |  | 628 |  | 628 |  | 11 |  | 1,186 |  | 701 |  | 1,187 |  | 816
Consumer loans |  | 317 |  | 272 |  | 43 |  | 315 |  | 1 |  | 23 |  | 316 |  | 38 |  | 185
Total impaired loans | $ | 45,963 |  | 11,305 |  | 29,938 |  | 41,243 |  | 1,504 |  | 48,402 |  | 41,602 |  | 49,417 |  | 43,748
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 |
Nine months ended September 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 |  | (732 | ) | (1,204 | ) | (252 | ) | (327 | ) | - |  | (483 | ) | - |  | (485 | ) | - |  | (3,483 | )
Recoveries |  | 374 |  | 75 |  | 101 |  | 50 |  | - |  | 39 |  | - |  | 111 |  | - |  | 750 |
Provision |  | 99 |  | 864 |  | 67 |  | 240 |  | 8 |  | 140 |  | - |  | 379 |  | 367 |  | 2,164 |
Ending balance | $ | 4,140 |  | 2,966 |  | 1,914 |  | 2,012 |  | 36 |  | 784 |  | - |  | 250 |  | 1,752 |  | 13,854 |
Three months ended September 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 4,725 |  | 3,304 |  | 1,924 |  | 1,858 |  | 34 |  | 822 |  | - |  | 229 |  | 1,133 |  | 14,029 |
Charge-offs |  | (17 | ) | (569 | ) | (28 | ) | (51 | ) | - |  | (101 | ) | - |  | (204 | ) | - |  | (970 | )
Recoveries |  | 348 |  | 31 |  | 31 |  | - |  | - |  | 14 |  | - |  | 34 |  | - |  | 458 |
Provision |  | (916 | ) | 200 |  | (13 | ) | 205 |  | 2 |  | 49 |  | - |  | 191 |  | 619 |  | 337 |
Ending balance | $ | 4,140 |  | 2,966 |  | 1,914 |  | 2,012 |  | 36 |  | 784 |  | - |  | 250 |  | 1,752 |  | 13,854 |
Allowance for loan losses September 30, 2013: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 1 |  | 60 |  | 1,233 |  | - |  | - |  | - |  | - |  | - |  | - |  | 1,294 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | 4,139 |  | 2,906 |  | 681 |  | 2,012 |  | 36 |  | 784 |  | - |  | 250 |  | 1,752 |  | 12,560 |
Ending balance | $ | 4,140 |  | 2,966 |  | 1,914 |  | 2,012 |  | 36 |  | 784 |  | - |  | 250 |  | 1,752 |  | 13,854 |
Loans September 30, 2013: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | $ | 67,870 |  | 191,338 |  | 50,035 |  | 205,911 |  | 11,541 |  | 64,957 |  | 22 |  | 25,387 |  | - |  | 617,061 |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 6,790 |  | 3,079 |  | 19,803 |  | 3,100 |  | - |  | - |  | - |  | 272 |  | - |  | 33,044 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 61,080 |  | 188,259 |  | 30,232 |  | 202,811 |  | 11,541 |  | 64,957 |  | 22 |  | 25,115 |  | - |  | 584,017 |
(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 |
Nine months ended September 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 |  | (3,045 | ) | (666 | ) | (483 | ) | (547 | ) | - |  | (498 | ) | - |  | (403 | ) | - |  | (5,642 | )
Recoveries |  | 522 |  | 71 |  | - |  | 374 |  | - |  | 95 |  | - |  | 115 |  | - |  | 1,177 |
Provision |  | 1,733 |  | 367 |  | 450 |  | (21 | ) | - |  | (18 | ) | - |  | 222 |  | 1,679 |  | 4,412 |
Ending balance | $ | 6,392 |  | 3,025 |  | 2,071 |  | 1,537 |  | 13 |  | 608 |  | - |  | 189 |  | 2,716 |  | 16,551 |
Three months ended September 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 7,645 |  | 2,902 |  | 2,224 |  | 1,516 |  | 13 |  | 629 |  | - |  | 191 |  | 1,520 |  | 16,640 |
Charge-offs |  | (663 | ) | (176 | ) | (112 | ) | (24 | ) | - |  | (156 | ) | - |  | (135 | ) | - |  | (1,266 | )
Recoveries |  | 304 |  | 2 |  | - |  | - |  | - |  | 84 |  | - |  | 26 |  | - |  | 416 |
Provision |  | (894 | ) | 297 |  | (41 | ) | 45 |  | - |  | 51 |  | - |  | 107 |  | 1,196 |  | 761 |
Ending balance | $ | 6,392 |  | 3,025 |  | 2,071 |  | 1,537 |  | 13 |  | 608 |  | - |  | 189 |  | 2,716 |  | 16,551 |
Allowance for loan losses September 30, 2012: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 1,527 |  | 376 |  | 1,261 |  | 114 |  | - |  | - |  | - |  | - |  | - |  | 3,278 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | 4,865 |  | 2,649 |  | 810 |  | 1,423 |  | 13 |  | 608 |  | - |  | 189 |  | 2,716 |  | 13,273 |
Ending balance | $ | 6,392 |  | 3,025 |  | 2,071 |  | 1,537 |  | 13 |  | 608 |  | - |  | 189 |  | 2,716 |  | 16,551 |
Loans September 30, 2012: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | $ | 80,733 |  | 197,043 |  | 52,124 |  | 203,603 |  | 4,964 |  | 60,358 |  | 12 |  | 26,945 |  | - |  | 625,782 |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 19,734 |  | 3,716 |  | 20,054 |  | 6,798 |  | - |  | 346 |  | - |  | - |  | - |  | 50,648 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 60,999 |  | 193,327 |  | 32,070 |  | 196,805 |  | 4,964 |  | 60,012 |  | 12 |  | 26,945 |  | - |  | 575,134 |
Credit risk profile of each loan type based on internally assigned risk grade |
September 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 | $ | 8 |  | 18,693 |  | - |  | - |  | - |  | 361 |  | - |  | 1,171 |  | - |  | 20,233
2- High Quality |  | 5,868 |  | 57,682 |  | - |  | 37,940 |  | 286 |  | 6,755 |  | - |  | 3,725 |  | 2,147 |  | 114,403
3- Good Quality |  | 26,814 |  | 69,013 |  | 23,193 |  | 119,080 |  | 8,019 |  | 44,285 |  | 22 |  | 4,041 |  | 11,125 |  | 305,592
4- Management Attention |  | 14,666 |  | 32,766 |  | 9,528 |  | 39,925 |  | 506 |  | 12,408 |  | - |  | 431 |  | 2,361 |  | 112,591
5- Watch |  | 9,629 |  | 7,652 |  | 7,384 |  | 4,564 |  | 2,545 |  | 401 |  | - |  | 32 |  | - |  | 32,207
6- Substandard |  | 10,885 |  | 5,532 |  | 9,930 |  | 4,402 |  | 185 |  | 747 |  | - |  | 351 |  | - |  | 32,032
7- Doubtful |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | -
8- Loss |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | 3 |  | - |  | 3
Total | $ | 67,870 |  | 191,338 |  | 50,035 |  | 205,911 |  | 11,541 |  | 64,957 |  | 22 |  | 9,754 |  | 15,633 |  | 617,061
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 September 30, 2013:
September 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 | 14 |  | $ | 10,098 |  | 6,750
Single-family residential | 22 |  |  | 1,367 |  | 1,978
Single-family residential - |  |  |  |  |  |
Banco de la Gente stated income | 68 |  |  | 7,630 |  | 6,263
Commercial | 6 |  |  | 2,236 |  | 1,816
Multifamily and farmland | 1 |  |  | 322 |  | 185
Total real estate TDR loans | 111 |  |  | 21,653 |  | 16,992
Loans not secured by real estate |  |  |  |  |  |
Commercial loans | 8 |  |  | 242 |  | 120
Consumer loans | 1 |  |  | 2 |  | -
Total TDR loans | 120 |  | $ | 21,897 |  | 17,112
The Bank did not enter into any new TDR loan modifications during the three months ended September 30, 2013. The following table presents an analysis of loan modifications during the nine months ended September 30, 2013:
Nine months ended September 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 |  | 825
Single-family residential - |  |  |  |  |  |
Banco de la Gente stated income | 4 |  | $ | 471 |  | 466
Total real estate TDR loans | 6 |  |  | 1,312 |  | 1,291
Total TDR loans | 6 |  | $ | 1,312 |  | 1,291
The following tables present an analysis of loan modifications during the three and nine months ended September 30, 2012:
Three months ended September 30, 2012 |  |  |  |  |
(Dollars in thousands) |  |  |  |  |
| Number of Contracts |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Real estate loans |  |  |  |  |
Single-family residential | 2 |  | $ | 177 |  | 176
Single-family residential - |  |  |  |  |  |
Banco de la Gente stated income | 3 |  | $ | 276 |  | 275
Total real estate TDR loans | 5 |  |  | 453 |  | 451
Total TDR loans | 5 |  | $ | 453 |  | 451
Nine months ended September 30, 2012 |  |  |  |  |
(Dollars in thousands) |  |  |  |  |
| Number of Contracts |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Real estate loans |  |  |  |  |
Single-family residential | 3 |  | $ | 302 |  | 301
Single-family residential - |  |  |  |  |  |
Banco de la Gente stated income | 18 |  | $ | 1,862 |  | 1,847
Total real estate TDR loans | 21 |  |  | 2,164 |  | 2,148
Loans not secured by real estate |  |  |  |  |  |
Commercial loans | 1 |  |  | 14 |  | 14
Total TDR loans | 22 |  | $ | 2,178 |  | 2,162
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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