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3. Loans (Tables)

9 Months Ended

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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