XML 47 R28.htm IDEA: XBRL DOCUMENT v3.3.1.900

3. Loans (Tables)

12 Months Ended

Dec. 31, 2015

Loans Tables

Major classifications of loans

(Dollars in thousands)
		December 31, 2015				December 31, 2014
Real estate loans:
Construction and land development		$	65,791				57,617
Single-family residential			220,690				206,417
Single-family residential -
Banco de la Gente stated income			43,733				47,015
Commercial			228,526				228,558
Multifamily and farmland			18,080				12,400
Total real estate loans			576,820				552,007
Loans not secured by real estate:
Commercial loans			91,010				76,262
Farm loans			3				7
Consumer loans			10,027				10,060
All other loans			11,231				13,555
Total loans			689,091				651,891
Less allowance for loan losses			9,589				11,082
Total net loans		$	679,502				640,809

Age analysis of past due loans, by loan type

December 31, 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		$	330				17				347				65,444				65,791				-
Single-family residential			2,822				1,385				4,207				216,483				220,690				-
Single-family residential -
Banco de la Gente stated income			7,021				114				7,135				36,598				43,733				-
Commercial			2,619				157				2,776				225,750				228,526				-
Multifamily and farmland			-				-				-				18,080				18,080				-
Total real estate loans			12,792				1,673				14,465				562,355				576,820				-
Loans not secured by real estate:
Commercial loans			185				40				225				90,785				91,010				17
Farm loans			-				-				-				3				3				-
Consumer loans			136				8				144				9,883				10,027				-
All other loans			-				-				-				11,231				11,231				-
Total loans		$	13,113				1,721				14,834				674,257				689,091				17

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)
		December 31, 2015				December 31, 2014
Real estate loans:
Construction and land development		$	146				3,854
Single-family residential			4,023				2,370
Single-family residential -
Banco de la Gente stated income			1,106				1,545
Commercial			2,992				2,598
Multifamily and farmland			-				110
Total real estate loans			8,267				10,477
Loans not secured by real estate:
Commercial loans			113				176
Consumer loans			52				75
Total		$	8,432				10,728

Impaired loans

December 31, 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				216				226				442				12				705
Single-family residential			8,828				1,489				6,805				8,294				189				10,852
Single-family residential -
Banco de la Gente stated income			20,375				-				19,215				19,215				1,143				18,414
Commercial			4,556				-				4,893				4,893				179				5,497
Multifamily and farmland			96				-				83				83				-				93
Total impaired real estate loans			34,498				1,705				31,222				32,927				1,523				35,561
Loans not secured by real estate:
Commercial loans			180				-				161				161				3				132
Consumer loans			286				-				260				260				4				283
Total impaired loans		$	34,964				1,705				31,643				33,348				1,530				35,976

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
Total impaired loans		$	38,840				6,057				30,234				36,291				1,658				38,145

Fair value measurements for impaired loans and other real estate on a non-recurring basis

(Dollars in thousands)
		Fair Value Measurements December 31, 2015				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage loans held for sale		$	4,149				-				-				4,149
Impaired loans		$	31,818				-				-				31,818
Other real estate		$	739				-				-				739
(Dollars in thousands)
		Fair Value Measurements December 31, 2014				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage loans held for sale		$	1,375				-				-				1,375
Impaired loans		$	34,633				-				-				34,633
Other real estate		$	2,016				-				-				2,016

(Dollars in thousands)
		Fair Value December 31, 2015				Fair Value December 31, 2014			Valuation Technique		Significant Unobservable Inputs				General Range of Significant  Unobservable Input Values
Mortgage loans held for sale		$	4,149				1,375		Rate lock commitment			N/A				N/A
Impaired loans		$	31,818				34,633		Appraised value and discounted cash flows		Discounts to reflect current market conditions and ultimate collectability					0 - 25%
Other real estate		$	739				2,016		Appraised value		Discounts to reflect current market conditions and estimated costs to sell					0 - 25%

Changes in the allowance for loan losses

Changes in the allowance for loan losses for the year ended December 31, 2015 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		$	2,785				2,566				1,610				1,902				7				1,098				-				233				881				11,082
Charge-offs			(198	)			(618	)			(117	)			(329	)			-				(37	)			-				(545	)			-				(1,844	)
Recoveries			45				34				22				21				-				101				-				145				-				368
Provision			(447	)			552				(55	)			323				(7	)			(320	)			-				339				(402	)			(17	)
Ending balance		$	2,185				2,534				1,460				1,917				-				842				-				172				479				9,589
Ending balance: individually
evaluated for impairment		$	-				96				1,115				171				-				-				-				-				-				1,382
Ending balance: collectively
evaluated for impairment			2,185				2,438				345				1,746				-				842				-				172				479				8,207
Ending balance		$	2,185				2,534				1,460				1,917				-				842				-				172				479				9,589
Loans:
Ending balance		$	65,791				220,690				43,733				228,526				18,080				91,010				3				21,258				-				689,091
Ending balance: individually
evaluated for impairment		$	216				2,636				17,850				4,212				-				-				-				-				-				24,914
Ending balance: collectively
evaluated for impairment		$	65,575				218,054				25,883				224,314				18,080				91,010				3				21,258				-				664,177

Changes in the allowance for loan losses for the year ended December 31, 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
Allowance for loan losses:
Beginning balance		$	3,218				3,123				1,863				2,219				37				1,069				-				245				1,727				13,501
Charge-offs			(884	)			(309	)			(190	)			(290	)			-				(430	)			-				(534	)			-				(2,637	)
Recoveries			428				72				16				171				-				54				-				176				-				917
Provision			23				(320	)			(79	)			(198	)			(30	)			405				-				346				(846	)			(699	)
Ending balance		$	2,785				2,566				1,610				1,902				7				1,098				-				233				881				11,082
Ending balance: individually
evaluated for impairment		$	-				82				1,155				260				-				-				-				-				-				1,497
Ending balance: collectively
evaluated for impairment			2,785				2,484				455				1,642				7				1,098				-				233				881				9,585
Ending balance		$	2,785				2,566				1,610				1,902				7				1,098				-				233				881				11,082
Loans:
Ending balance		$	57,617				206,417				47,015				228,558				12,400				76,262				7				23,615				-				651,891
Ending balance: individually
evaluated for impairment		$	3,639				2,298				18,884				3,345				-				-				-				-				-				28,166
Ending balance: collectively
evaluated for impairment		$	53,978				204,119				28,131				225,213				12,400				76,262				7				23,615				-				623,725

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

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

December 31, 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		$	-				15,189				-				-				-				700				-				1,091				-				16,980
2- High Quality			10,144				86,061				-				38,647				2,998				24,955				-				3,647				1,665				168,117
3- Good Quality			35,535				78,843				19,223				148,805				12,058				58,936				3				4,571				7,828				365,802
4- Management Attention			12,544				30,259				15,029				31,824				335				5,905				-				620				1,738				98,254
5- Watch			7,265				4,322				3,308				4,561				2,689				332				-				43				-				22,520
6- Substandard			303				6,016				6,173				4,689				-				182				-				55				-				17,418
7- Doubtful			-				-				-				-				-				-				-				-				-				-
8- Loss			-				-				-				-				-				-				-				-				-				-
Total		$	65,791				220,690				43,733				228,526				18,080				91,010				3				10,027				11,231				689,091

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 TDR loans by loan type

Year ended December 31, 2015
(Dollars in thousands)
		Number of Contracts				Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment
Real estate loans:
Construction and land development			1			$	216				216
Single-family residential			3				288				271
Total TDR loans			4			$	504				487

Year ended December 31, 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				266
Single-family residential			2				849				845
Single-family residential -
Banco de la Gente stated income			3				281				278
Total TDR loans			6			$	1,421				1,389

X

- Definition

Custom Element.

+ References

No definition available.

+ Details

Name:	PEBK_FairValueMeasurementsForImpairedLoansAndOtherRealEstate
Namespace Prefix:	PEBK_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Custom Element.

+ References

No definition available.

+ Details

Name:	PEBK_LoansTablesAbstract
Namespace Prefix:	PEBK_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-URI http://asc.fasb.org/extlink&oid=49124121&loc=SL6953423-111524

+ Details

Name:	us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 55
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953803-111525

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=49124121&loc=SL6953659-111524

+ Details

Name:	us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of impaired financing receivables.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5212-111524

+ Details

Name:	us-gaap_ImpairedFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivables that are past due but not impaired, financing receivables that are 90 days past due and still accruing, and financing receivables on nonaccrual status.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5111-111524

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7A
-URI http://asc.fasb.org/extlink&oid=49124121&loc=SL6953401-111524

+ Details

Name:	us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name:	us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of nonaccrual and past due financing receivables (such as loans and trade receivables), including: (a) the recorded investment in loans and trade receivables, if applicable, on nonaccrual status as of each balance sheet date (b) the recorded investment in loans and trade receivables, if applicable, past due 90 days or more and still accruing.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5111-111524

+ Details

Name:	us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivables and troubled debt restructurings.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=49124121&loc=SL6953676-111524

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=49124121&loc=SL6953682-111524

+ Details

Name:	us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration