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3. Loans (Tables) | 12 Months Ended
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Dec. 31, 2013
Loans Tables |
Major classifications of loans |
(Dollars in thousands) |  |  |
| December 31, 2013 |  | December 31, 2012
Real estate loans |  |  |
Construction and land development | $ | 63,742 |  | 73,176
Single-family residential |  | 195,975 |  | 195,003
Single-family residential - |  |  |  |
Banco de la Gente stated income |  | 49,463 |  | 52,019
Commercial |  | 209,287 |  | 200,633
Multifamily and farmland |  | 11,801 |  | 8,951
Total real estate loans |  | 530,268 |  | 529,782
Loans not secured by real estate |  |  |  |
Commercial loans |  | 68,047 |  | 64,295
Farm loans |  | 19 |  | 11
Consumer loans |  | 9,593 |  | 10,148
All other loans |  | 13,033 |  | 15,738
Total loans |  | 620,960 |  | 619,974
Less allowance for loan losses |  | 13,501 |  | 14,423
Total net loans | $ | 607,459 |  | 605,551
Age analysis of past due loans, by loan type |
December 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 | $ | 3,416 |  | 5,426 |  | 8,842 |  | 54,900 |  | 63,742 |  | -
Single-family residential |  | 4,518 |  | 1,555 |  | 6,073 |  | 189,902 |  | 195,975 |  | -
Single-family residential - |  |  |  |  |  |  |  |  |  |  |  |
Banco de la Gente stated income |  | 9,833 |  | 1,952 |  | 11,785 |  | 37,678 |  | 49,463 |  | 881
Commercial |  | 1,643 |  | 486 |  | 2,129 |  | 207,158 |  | 209,287 |  | -
Multifamily and farmland |  | 177 |  | - |  | 177 |  | 11,624 |  | 11,801 |  | -
Total real estate loans |  | 19,587 |  | 9,419 |  | 29,006 |  | 501,262 |  | 530,268 |  | 881
Loans not secured by real estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | 424 |  | 29 |  | 453 |  | 67,594 |  | 68,047 |  | -
Farm loans |  | - |  | - |  | - |  | 19 |  | 19 |  | -
Consumer loans |  | 181 |  | 3 |  | 184 |  | 9,409 |  | 9,593 |  | 1
All other loans |  | - |  | - |  | - |  | 13,033 |  | 13,033 |  | -
Total loans | $ | 20,192 |  | 9,451 |  | 29,643 |  | 591,317 |  | 620,960 |  | 882
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) |  |  |
| December 31, 2013 |  | December 31, 2012
Real estate loans |  |  |
Construction and land development | $ | 6,546 |  | 9,253
Single-family residential |  | 2,980 |  | 2,491
Single-family residential - |  |  |  |
Banco de la Gente stated income |  | 1,990 |  | 2,232
Commercial |  | 2,043 |  | 3,263
Total real estate loans |  | 13,559 |  | 17,239
Loans not secured by real estate |  |  |  |
Commercial loans |  | 250 |  | 344
Consumer loans |  | 27 |  | 47
Total | $ | 13,836 |  | 17,630
Impaired loans | The following tables present the Bank’s impaired loans as of December 31, 2013 and 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 | $ | 9,861 |  | 6,293 |  | 868 |  | 7,161 |  | 53 |  | 8,289
Single-family residential |  | 7,853 |  | 1,428 |  | 5,633 |  | 7,061 |  | 123 |  | 7,859
Single-family residential - |  |  |  |  |  |  |  |  |  |  |  |
Banco de la Gente stated income |  | 22,034 |  | - |  | 21,242 |  | 21,242 |  | 1,300 |  | 21,242
Commercial |  | 5,079 |  | 3,045 |  | 1,489 |  | 4,534 |  | 182 |  | 4,171
Multifamily and farmland |  | 177 |  | - |  | 177 |  | 177 |  | 1 |  | 184
Total impaired real estate loans |  | 45,004 |  | 10,766 |  | 29,409 |  | 40,175 |  | 1,659 |  | 41,745
Loans not secured by real estate |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | 999 |  | 257 |  | 724 |  | 981 |  | 15 |  | 826
Consumer loans |  | 302 |  | 264 |  | 35 |  | 299 |  | 1 |  | 247
Total impaired loans | $ | 46,305 |  | 11,287 |  | 30,168 |  | 41,455 |  | 1,675 |  | 42,818
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
Fair value measurements for impaired loans and other real estate on a non-recurring basis |
(Dollars in thousands) |  |  |  |  |  |  |  |  |
| Fair Value Measurements December 31, 2013 |  | Level 1 Valuation |  | Level 2 Valuation |  | Level 3 Valuation |  | Total Gains/(Losses) for the Year Ended December 31, 2013
Impaired loans | $ | 39,780 |  | - |  | - |  | 39,780 |  | (3,207 | )
Other real estate | $ | 1,679 |  | - |  | - |  | 1,679 |  | (581 | )
(Dollars in thousands) |  |  |  |  |  |  |  |  |
| Fair Value Measurements December 31, 2012 |  | Level 1 Valuation |  | Level 2 Valuation |  | Level 3 Valuation |  | Total Gains/(Losses) for the Year Ended December 31, 2012
Impaired loans | $ | 46,738 |  | - |  | - |  | 46,738 |  | (6,875 | )
Other real estate | $ | 6,254 |  | - |  | - |  | 6,254 |  | (1,136 | )
Changes in the allowance for loan losses | Changes in the allowance for loan losses for the year ended December 31, 2013 were as follows:
(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 |  | (777 | ) | (1,724 | ) | (272 | ) | (445 | ) | - |  | (502 | ) | - |  | (652 | ) | - |  | (4,372 | )
Recoveries |  | 377 |  | 111 |  | 141 |  | 50 |  | - |  | 44 |  | - |  | 143 |  | - |  | 866 |
Provision |  | (781 | ) | 1,505 |  | (4 | ) | 565 |  | 9 |  | 439 |  | - |  | 509 |  | 342 |  | 2,584 |
Ending balance | $ | 3,218 |  | 3,123 |  | 1,863 |  | 2,219 |  | 37 |  | 1,069 |  | - |  | 245 |  | 1,727 |  | 13,501 |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | - |  | 39 |  | 1,268 |  | 171 |  | - |  | - |  | - |  | - |  | - |  | 1,478 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | 3,218 |  | 3,084 |  | 595 |  | 2,048 |  | 37 |  | 1,069 |  | - |  | 245 |  | 1,727 |  | 12,023 |
Ending balance | $ | 3,218 |  | 3,123 |  | 1,863 |  | 2,219 |  | 37 |  | 1,069 |  | - |  | 245 |  | 1,727 |  | 13,501 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | $ | 63,742 |  | 195,975 |  | 49,463 |  | 209,287 |  | 11,801 |  | 68,047 |  | 19 |  | 22,626 |  | - |  | 620,960 |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 6,293 |  | 3,127 |  | 19,958 |  | 3,767 |  | - |  | 256 |  | - |  | 265 |  | - |  | 33,666 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 57,449 |  | 192,848 |  | 29,505 |  | 205,520 |  | 11,801 |  | 67,791 |  | 19 |  | 22,361 |  | - |  | 587,294 |
Changes in the allowance for loan losses for the year ended December 31, 2012 were as follows:
(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 | $ | 7,182 |  | 3,253 |  | 2,104 |  | 1,731 |  | 13 |  | 1,029 |  | - |  | 255 |  | 1,037 |  | 16,604 |
Charge-offs |  | (4,728 | ) | (886 | ) | (668 | ) | (937 | ) | - |  | (555 | ) | - |  | (557 | ) | - |  | (8,331 | )
Recoveries |  | 528 |  | 72 |  | - |  | 374 |  | - |  | 104 |  | - |  | 148 |  | - |  | 1,226 |
Provision |  | 1,417 |  | 792 |  | 562 |  | 881 |  | 15 |  | 510 |  | - |  | 399 |  | 348 |  | 4,924 |
Ending balance | $ | 4,399 |  | 3,231 |  | 1,998 |  | 2,049 |  | 28 |  | 1,088 |  | - |  | 245 |  | 1,385 |  | 14,423 |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 24 |  | 84 |  | 1,254 |  | - |  | - |  | - |  | - |  | - |  | - |  | 1,362 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | 4,375 |  | 3,147 |  | 744 |  | 2,049 |  | 28 |  | 1,088 |  | - |  | 245 |  | 1,385 |  | 13,061 |
Ending balance | $ | 4,399 |  | 3,231 |  | 1,998 |  | 2,049 |  | 28 |  | 1,088 |  | - |  | 245 |  | 1,385 |  | 14,423 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | $ | 73,176 |  | 195,003 |  | 52,019 |  | 200,633 |  | 8,951 |  | 64,295 |  | 11 |  | 25,886 |  | - |  | 619,974 |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 11,961 |  | 3,885 |  | 20,024 |  | 4,569 |  | - |  | 346 |  | - |  | - |  | - |  | 40,785 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 61,215 |  | 191,118 |  | 31,995 |  | 196,064 |  | 8,951 |  | 63,949 |  | 11 |  | 25,886 |  | - |  | 579,189 |
Changes in the allowance for loan losses for the year ended December 31, 2011 were as follows:
(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 | $ | 5,774 |  | 3,992 |  | 2,105 |  | 1,409 |  | 17 |  | 1,174 |  | 430 |  | 592 |  | 15,493 |
Charge-offs |  | (7,164 | ) | (2,233 | ) | (692 | ) | (1,271 | ) | - |  | (314 | ) | (586 | ) | - |  | (12,260 | )
Recoveries |  | 241 |  | 184 |  | 17 |  | 24 |  | - |  | 121 |  | 152 |  | - |  | 739 |
Provision |  | 8,331 |  | 1,310 |  | 674 |  | 1,569 |  | (4 | ) | 48 |  | 259 |  | 445 |  | 12,632 |
Ending balance | $ | 7,182 |  | 3,253 |  | 2,104 |  | 1,731 |  | 13 |  | 1,029 |  | 255 |  | 1,037 |  | 16,604 |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 1,250 |  | 46 |  | 1,243 |  | - |  | - |  | - |  | - |  | - |  | 2,539 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | 5,932 |  | 3,207 |  | 861 |  | 1,731 |  | 13 |  | 1,029 |  | 255 |  | 1,037 |  | 14,065 |
Ending balance | $ | 7,182 |  | 3,253 |  | 2,104 |  | 1,731 |  | 13 |  | 1,029 |  | 255 |  | 1,037 |  | 16,604 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | $ | 93,812 |  | 212,993 |  | 54,058 |  | 214,415 |  | 4,793 |  | 60,646 |  | 29,780 |  | - |  | 670,497 |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 20,280 |  | 2,352 |  | 18,309 |  | 3,845 |  | - |  | - |  | - |  | - |  | 44,786 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment | $ | 73,532 |  | 210,641 |  | 35,749 |  | 210,570 |  | 4,793 |  | 60,646 |  | 29,780 |  | - |  | 625,711 |
Credit risk profile of each loan type based on internally assigned risk grade | The following tables present the credit risk profile of each loan type based on internally assigned risk grades as of December 31, 2013 and 2012.
December 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 | $ | 7 |  | 15,036 |  | - |  | - |  | - |  | 365 |  | - |  | 1,270 |  | - |  | 16,678
2- High Quality |  | 7,852 |  | 60,882 |  | - |  | 33,340 |  | 715 |  | 8,442 |  | - |  | 3,519 |  | 2,139 |  | 116,889
3- Good Quality |  | 22,899 |  | 73,118 |  | 22,255 |  | 123,604 |  | 7,882 |  | 44,353 |  | 19 |  | 4,061 |  | 8,565 |  | 306,756
4- Management Attention |  | 14,464 |  | 34,090 |  | 8,369 |  | 42,914 |  | 286 |  | 13,704 |  | - |  | 358 |  | 2,329 |  | 116,514
5- Watch |  | 8,163 |  | 6,806 |  | 8,113 |  | 5,190 |  | 2,741 |  | 320 |  | - |  | 50 |  | - |  | 31,383
6- Substandard |  | 10,357 |  | 6,043 |  | 10,726 |  | 4,239 |  | 177 |  | 863 |  | - |  | 330 |  | - |  | 32,735
7- Doubtful |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | -
8- Loss |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | 5 |  | - |  | 5
Total | $ | 63,742 |  | 195,975 |  | 49,463 |  | 209,287 |  | 11,801 |  | 68,047 |  | 19 |  | 9,593 |  | 13,033 |  | 620,960
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 December 31, 2013.
December 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 | 15 |  | $ | 10,222 |  | 6,528
Single-family residential | 20 |  |  | 1,281 |  | 1,754
Single-family residential - |  |  |  |  |  |
Banco de la Gente stated income | 91 |  |  | 10,038 |  | 8,605
Commercial | 10 |  |  | 3,775 |  | 4,272
Multifamily and farmland | 1 |  |  | 322 |  | 177
Total real estate TDR loans | 137 |  |  | 25,638 |  | 21,336
Loans not secured by real estate |  |  |  |  |  |
Commercial loans | 7 |  |  | 519 |  | 344
Consumer loans | 3 |  |  | 284 |  | 266
Total TDR loans | 147 |  | $ | 26,441 |  | 21,946
The following table presents an analysis of 2013 loan modifications included in the December 31, 2013 TDR table above.
Year ended December 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 | 2 |  | $ | 841 |  | 824
Single-family residential - |  |  |  |  |  |
Banco de la Gente stated income | 7 |  |  | 796 |  | 788
Total real estate TDR loans | 9 |  |  | 1,637 |  | 1,612
Total TDR loans | 9 |  | $ | 1,637 |  | 1,612
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
The following table presents an analysis of 2012 loan modifications included in the December 31, 2012 TDR table above.
Year ended December 31, 2012 |  |  |  |  |
(Dollars in thousands) |  |  |  |  |
| Number of Contracts |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Real estate loans |  |  |  |  |
Single-family residential | 5 |  | $ | 674 |  | 673
Single-family residential - |  |  |  |  |  |
Banco de la Gente stated income | 20 |  |  | 2,046 |  | 1,992
Total real estate TDR loans | 25 |  |  | 2,720 |  | 2,665
Loans not secured by real estate |  |  |  |  |  |
Commercial loans | 1 |  |  | 14 |  | 13
Total TDR loans | 26 |  | $ | 2,734 |  | 2,678

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