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3. Loans (Tables)

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Major classifications of loans

(Dollars in thousands)
	June 30, 2015			December 31, 2014
Real estate loans:
Construction and land development	$	60,066		57,617
Single-family residential		208,653		206,417
Single-family residential -
Banco de la Gente stated income		45,252		47,015
Commercial		231,684		228,558
Multifamily and farmland		12,402		12,400
Total real estate loans		558,057		552,007
Loans not secured by real estate:
Commercial loans		85,124		76,262
Farm loans		4		7
Consumer loans		10,069		10,060
All other loans		13,513		13,555
Total loans		666,767		651,891
Less allowance for loan losses		10,378		11,082
Total net loans	$	656,389		640,809

Age analysis of past due loans, by loan type

June 30, 2015
(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		$	313				227				540				59,526				60,066				-
Single-family residential			1,869				641				2,510				206,143				208,653				100
Single-family residential -
Banco de la Gente stated income			999				205				1,204				44,048				45,252				-
Commercial			36				326				362				231,322				231,684				-
Multifamily and farmland			-				-				-				12,402				12,402				-
Total real estate loans			3,217				1,399				4,616				553,441				558,057				100
Loans not secured by real estate:
Commercial loans			69				5				74				85,050				85,124				-
Farm loans			-				-				-				4				4				-
Consumer loans			150				9				159				9,910				10,069				-
All other loans			-				-				-				13,513				13,513				-
Total loans		$	3,436				1,413				4,849				661,918				666,767				100

December 31, 2014
(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		$	294				3,540				3,834				53,783				57,617				-
Single-family residential			5,988				268				6,256				200,161				206,417				-
Single-family residential -
Banco de la Gente stated income			8,998				610				9,608				37,407				47,015				-
Commercial			3,205				366				3,571				224,987				228,558				-
Multifamily and farmland			85				-				85				12,315				12,400				-
Total real estate loans			18,570				4,784				23,354				528,653				552,007				-
Loans not secured by real estate:
Commercial loans			241				49				290				75,972				76,262				-
Farm loans			-				-				-				7				7				-
Consumer loans			184				-				184				9,876				10,060				-
All other loans			-				-				-				13,555				13,555				-
Total loans		$	18,995				4,833				23,828				628,063				651,891				-

Non-accrual loans

The following table presents the Company’s non-accrual loans as of June 30, 2015 and December 31, 2014:

(Dollars in thousands)
	June 30, 2015			December 31, 2014
Real estate loans:
Construction and land development	$	546		3,854
Single-family residential		3,171		2,370
Single-family residential -
Banco de la Gente stated income		1,062		1,545
Commercial		2,641		2,598
Multifamily and farmland		-		110
Total real estate loans		7,420		10,477
Loans not secured by real estate:
Commercial loans		109		176
Consumer loans		67		75
Total	$	7,596		10,728

Impaired loans

June 30, 2015
(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		$	1,083				241				627				868				44				1,992
Single-family residential			8,396				1,606				6,442				8,048				176				8,535
Single-family residential -
Banco de la Gente stated income			20,375				-				19,798				19,798				1,167				19,421
Commercial			4,797				1,753				2,626				4,379				243				4,404
Multifamily and farmland			101				-				98				98				-				103
Total impaired real estate loans			34,752				3,600				29,591				33,191				1,630				34,455
Loans not secured by real estate:
Commercial loans			159				-				133				133				2				156
Consumer loans			296				-				288				288				5				304
Total impaired loans		$	35,207				3,600				30,012				33,612				1,637				34,915
December 31, 2014
(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		$	5,481				3,639				555				4,194				31				5,248
Single-family residential			6,717				933				5,540				6,473				154				7,430
Single-family residential -
Banco de la Gente stated income			21,243				-				20,649				20,649				1,191				19,964
Commercial			4,752				1,485				2,866				4,351				272				4,399
Multifamily and farmland			111				-				110				110				1				154
Total impaired real estate loans			38,304				6,057				29,720				35,777				1,649				37,195
Loans not secured by real estate:
Commercial loans			218				-				201				201				4				641
Farm loans (non RE)											-
Consumer loans			318				-				313				313				5				309
All other loans (not secured by real estate)			-				-				-				-				-				-
Total impaired loans		$	38,840				6,057				30,234				36,291				1,658				38,145

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, 2015
Allowance for loan losses:
Beginning balance	$	2,785		2,566		1,610		1,902		7		1,098		-		233		881		11,082
Charge-offs		(73	)	(400	)	(59	)	(62	)	-		(15	)	-		(253	)	-		(862	)
Recoveries		23		10		22		10		-		53		-		81		-		199
Provision		189		280		(45	)	(101	)	(5	)	(234	)	-		170		(295	)	(41	)
Ending balance	$	2,924		2,456		1,528		1,749		2		902		-		231		586		10,378
Three months ended June 30, 2015
Allowance for loan losses:
Beginning balance	$	2,758		2,599		1,586		1,786		6		1,181		-		208		719		10,843
Charge-offs		-		(109	)	(17	)	(59	)	-		(15	)	-		(132	)	-		(332	)
Recoveries		18		4		-		5		-		17		-		37		-		81
Provision		148		(38	)	(41	)	17		(4	)	(281	)	-		118		(133	)	(214	)
Ending balance	$	2,924		2,456		1,528		1,749		2		902		-		231		586		10,378
Allowance for loan losses June 30, 2015:
Ending balance: individually
evaluated for impairment	$	-		92		1,135		235		-		-		-		-		-		1,462
Ending balance: collectively
evaluated for impairment		2,924		2,364		393		1,514		2		902		-		231		586		8,916
Ending balance	$	2,924		2,456		1,528		1,749		2		902		-		231		586		10,378
Loans June 30, 2015:
Ending balance	$	60,066		208,653		45,252		231,684		12,402		85,124		4		23,582		-		666,767
Ending balance: individually
evaluated for impairment	$	241		2,998		18,346		3,575		-		-		-		-		-		25,160
Ending balance: collectively
evaluated for impairment	$	59,825		205,655		26,906		228,109		12,402		85,124		4		23,582		-		641,607

(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, 2014
Allowance for loan losses:
Beginning balance	$	3,218		3,123		1,863		2,219		37		1,069		-		245		1,727		13,501
Charge-offs		(260	)	(194	)	(140	)	(131	)	-		(193	)	-		(254	)	-		(1,172	)
Recoveries		282		60		17		161		-		26		-		82		-		628
Provision		147		(141	)	(32	)	(410	)	(30	)	179		-		180		(175	)	(282	)
Ending balance	$	3,387		2,848		1,708		1,839		7		1,081		-		253		1,552		12,675
Three months ended June 30, 2014
Allowance for loan losses:
Beginning balance	$	3,133		3,132		1,767		2,196		36		945		-		230		1,539		12,978
Charge-offs		-		(171	)	(108	)	(20	)	-		(181	)	-		(117	)	-		(597	)
Recoveries		3		52		5		101		-		21		-		45		-		227
Provision		251		(165	)	44		(438	)	(29	)	296		-		95		13		67
Ending balance	$	3,387		2,848		1,708		1,839		7		1,081		-		253		1,552		12,675
Allowance for loan losses June 30, 2014:
Ending balance: individually
evaluated for impairment	$	-		67		1,175		-		-		242		-		-		-		1,484
Ending balance: collectively
evaluated for impairment		3,387		2,781		533		1,839		7		839		-		253		1,552		11,191
Ending balance	$	3,387		2,848		1,708		1,839		7		1,081		-		253		1,552		12,675
Loans June 30, 2014:
Ending balance	$	59,843		196,192		48,165		214,378		11,821		78,056		93		24,788		-		633,336
Ending balance: individually
evaluated for impairment	$	5,297		2,325		19,287		-		-		3,307		-		250		-		30,466
Ending balance: collectively
evaluated for impairment	$	54,546		193,867		28,878		214,378		11,821		74,749		93		24,538		-		602,870

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 June 30, 2015 and December 31, 2014:

June 30, 2015
(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	$	-		14,306		-		-		-		984		-		1,222		-		16,512
2- High Quality		9,578		80,824		-		41,564		218		26,392		-		3,698		1,741		164,015
3- Good Quality		28,682		71,510		20,081		142,618		9,096		44,283		4		4,499		9,997		330,770
4- Management Attention		12,361		30,906		12,510		37,876		358		12,839		-		540		1,775		109,165
5- Watch		8,817		4,674		5,746		5,604		2,730		473		-		42		-		28,086
6- Substandard		628		6,433		6,915		4,022		-		153		-		68		-		18,219
7- Doubtful		-		-		-		-		-		-		-		-		-		-
8- Loss		-		-		-		-		-		-		-		-		-		-
Total	$	60,066		208,653		45,252		231,684		12,402		85,124		4		10,069		13,513		666,767
December 31, 2014
(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	$	-		15,099		-		-		-		924		-		1,232		-		17,255
2- High Quality		6,741		74,367		-		39,888		241		18,730		-		3,576		1,860		145,403
3- Good Quality		24,641		74,453		21,022		142,141		8,376		44,649		7		4,549		8,055		327,893
4- Management Attention		13,013		30,954		12,721		36,433		1,001		11,312		-		566		3,640		109,640
5- Watch		9,294		5,749		5,799		6,153		2,672		383		-		46		-		30,096
6- Substandard		3,928		5,795		7,473		3,943		110		264		-		87		-		21,600
7- Doubtful		-		-		-		-		-		-		-		-		-		-
8- Loss		-		-		-		-		-		-		-		4		-		4
Total	$	57,617		206,417		47,015		228,558		12,400		76,262		7		10,060		13,555		651,891

Analysis of loan modifications

The following tables present an analysis of loan modifications during the six months ended June 30, 2015 and 2014:

Six months ended June 30, 2015
(Dollars in thousands)
	Number of Contracts		Pre-Modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment
Real estate loans
Single-family residential	1		$	146		144
Total real estate TDR loans	1			146		144
Total TDR loans	1		$	146		144

During the six months ended June 30, 2015, one loan was modified that was considered to be a troubled debt restructuring.  The interest rate was modified on this loan.

Six months ended June 30, 2014
(Dollars in thousands)
	Number of Contracts		Pre-Modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment
Real estate loans
Construction and land development	1		$	316		316
Single-family residential	1			734		734
Single-family residential -
Banco de la Gente stated income	6			494		494
Commercial	-			-		-
Multifamily and farmland	-			-		-
Total real estate TDR loans	8			1,544		1,544
Total TDR loans	8		$	1,544		1,544

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