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3. Loans (Tables)

9 Months Ended

Sep. 30, 2015

Receivables [Abstract]

Major classifications of loans

(Dollars in thousands)
		September 30, 2015				December 31, 2014
Real estate loans:
Construction and land development		$	61,748				57,617
Single-family residential			218,365				206,417
Single-family residential -
Banco de la Gente stated income			44,433				47,015
Commercial			234,003				228,558
Multifamily and farmland			14,003				12,400
Total real estate loans			572,552				552,007
Loans not secured by real estate:
Commercial loans			88,931				76,262
Farm loans			3				7
Consumer loans			10,047				10,060
All other loans			13,267				13,555
Total loans			684,800				651,891
Less allowance for loan losses			10,420				11,082
Total net loans		$	674,380				640,809

Age analysis of past due loans, by loan type

September 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		$	383				273				656				61,092				61,748				197
Single-family residential			1,779				1,463				3,242				215,123				218,365				-
Single-family residential -
Banco de la Gente stated income			1,588				246				1,834				42,599				44,433				-
Commercial			602				142				744				233,259				234,003				-
Multifamily and farmland			117				-				117				13,886				14,003				-
Total real estate loans			4,469				2,124				6,593				565,959				572,552				197
Loans not secured by real estate:
Commercial loans			323				29				352				88,579				88,931				29
Farm loans			-				-				-				3				3				-
Consumer loans			204				18				222				9,825				10,047				-
All other loans			-				-				-				13,267				13,267				-
Total loans		$	4,996				2,171				7,167				677,633				684,800				226
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

(Dollars in thousands)
	September 30, 2015			December 31, 2014
Real estate loans:
Construction and land development	$	209		3,854
Single-family residential		3,335		2,370
Single-family residential -
Banco de la Gente stated income		1,955		1,545
Commercial		2,598		2,598
Multifamily and farmland		-		110
Total real estate loans		8,097		10,477
Loans not secured by real estate:
Commercial loans		102		176
Consumer loans		67		75
Total	$	8,266		10,728

Impaired loans

September 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		$	643				241				289				530				19				1,638
Single-family residential			8,828				1,496				7,287				8,783				201				9,483
Single-family residential -
Banco de la Gente stated income			20,375				-				19,572				19,572				1,155				19,114
Commercial			4,556				-				4,172				4,172				234				4,948
Multifamily and farmland			96				-				93				93				-				100
Total impaired real estate loans			34,498				1,737				31,413				33,150				1,609				35,283
Loans not secured by real estate:
Commercial loans			180				-				154				154				3				149
Consumer loans			286				-				280				280				5				298
Total impaired loans		$	34,964				1,737				31,847				33,584				1,617				35,730
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
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

Changes in the allowance for loan losses for the three and nine months ended September 30, 2015 and 2014 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
Nine months ended September 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		(198	)	(447	)	(59	)	(62	)	-		(16	)	-		(394	)	-		(1,176	)
Recoveries		43		30		22		15		-		96		-		115		-		321
Provision		119		676		(113	)	75		(2	)	(297	)	-		258		(523	)	193
Ending balance	$	2,749		2,825		1,460		1,930		5		881		-		212		358		10,420
Three months ended September 30, 2015
Allowance for loan losses:
Beginning balance	$	2,924		2,456		1,528		1,749		2		902		-		231		586		10,378
Charge-offs		(110	)	(48	)	-		-		-		(1	)	-		(156	)	-		(315	)
Recoveries		20		21		-		5		-		43		-		33		-		122
Provision		(85	)	396		(68	)	176		3		(63	)	-		104		(228	)	235
Ending balance	$	2,749		2,825		1,460		1,930		5		881		-		212		358		10,420
Allowance for loan losses September 30, 2015:
Ending balance: individually
evaluated for impairment	$	-		96		1,128		227		-		-		-		-		-		1,451
Ending balance: collectively
evaluated for impairment		2,749		2,729		332		1,703		5		881		-		212		358		8,969
Ending balance	$	2,749		2,825		1,460		1,930		5		881		-		212		358		10,420
Loans September 30, 2015:
Ending balance	$	61,748		218,365		44,433		234,003		14,003		88,931		3		23,314		-		684,800
Ending balance: individually
evaluated for impairment	$	241		2,944		18,193		3,525		-		-		-		-		-		24,903
Ending balance: collectively
evaluated for impairment	$	61,507		215,421		26,240		230,478		14,003		88,931		3		23,314		-		659,897

(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, 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		(772	)	(223	)	(148	)	(181	)	-		(197	)	-		(399	)	-		(1,920	)
Recoveries		389		64		17		165		-		42		-		112		-		789
Provision		239		(230	)	(60	)	(435	)	(29	)	240		-		282		(34	)	(27	)
Ending balance	$	3,074		2,734		1,672		1,768		8		1,154		-		240		1,693		12,343
Three months ended September 30, 2014
Allowance for loan losses:
Beginning balance	$	3,387		2,848		1,708		1,839		7		1,081		-		253		1,552		12,675
Charge-offs		(513	)	(30	)	(7	)	(51	)	-		(4	)	-		(144	)	-		(749	)
Recoveries		107		2		-		4		-		15		-		33		-		161
Provision		93		(86	)	(29	)	(24	)	1		62		-		98		141		256
Ending balance	$	3,074		2,734		1,672		1,768		8		1,154		-		240		1,693		12,343
Allowance for loan losses at September 30, 2014:
Ending balance: individually
evaluated for impairment	$	-		67		1,164		182		-		-		-		-		-		1,413
Ending balance: collectively
evaluated for impairment		3,074		2,667		508		1,586		8		1,154		-		240		1,693		10,930
Ending balance	$	3,074		2,734		1,672		1,768		8		1,154		-		240		1,693		12,343
Loans at September 30, 2014:
Ending balance	$	56,959		202,797		47,665		227,183		10,887		78,139		10		26,910		-		650,550
Ending balance: individually
evaluated for impairment	$	3,808		2,312		19,083		3,563		-		-		-		-		-		28,766
Ending balance: collectively
evaluated for impairment	$	53,151		200,485		28,582		223,620		10,887		78,139		10		26,910		-		621,784

Credit risk profile of each loan type based on internally assigned risk grade

September 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		$	-				13,031				-				-				-				645				-				1,224				-				14,900
2- High Quality			8,448				84,774				-				41,529				174				26,079				-				3,608				1,723				166,335
3- Good Quality			32,941				79,052				19,547				149,064				10,766				56,106				3				4,490				9,783				361,752
4- Management Attention			11,751				29,762				15,353				34,261				347				5,577				-				594				1,761				99,406
5- Watch			8,240				5,499				3,474				5,180				2,716				349				-				65				-				25,523
6- Substandard			368				6,247				6,059				3,969				-				175				-				62				-				16,880
7- Doubtful			-				-				-				-				-				-				-				-				-				-
8- Loss			-				-				-				-				-				-				-				4				-				4
Total		$	61,748				218,365				44,433				234,003				14,003				88,931				3				10,047				13,267				684,800
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 nine months ended September 30, 2015 and 2014:

Nine months ended September 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		142
Total real estate TDR loans	1			146		142
Total TDR loans	1		$	146		142

Nine months ended September 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		$	291		291
Single-family residential	2			849		849
Single-family residential -
Banco de la Gente stated income	7			594		594
Commercial	-			-		-
Multifamily and farmland	-			-		-
Total real estate TDR loans	10			1,734		1,734
Total TDR loans	10		$	1,734		1,734

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