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3. Loans (Tables)

12 Months Ended

Dec. 31, 2017

Loans Tables

Major classifications of loans

(Dollars in thousands)
		December 31, 2017				December 31, 2016
Real estate loans:
Construction and land development		$	84,987				61,749
Single-family residential			246,703				240,700
Single-family residential -
Banco de la Gente stated income			37,249				40,189
Commercial			248,637				247,521
Multifamily and farmland			28,937				21,047
Total real estate loans			646,513				611,206
Loans not secured by real estate:
Commercial loans			89,022				87,596
Farm loans			1,204				-
Consumer loans			9,888				9,832
All other loans			13,137				15,177
Total loans			759,764				723,811
Less allowance for loan losses			6,366				7,550
Total net loans		$	753,398				716,261

Age analysis of past due loans, by loan type

December 31, 2017
(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		$	277				-				277				84,710				84,987				-
Single-family residential			3,241				193				3,434				243,269				246,703				-
Single-family residential -
Banco de la Gente stated income			4,078				465				4,543				32,706				37,249				-
Commercial			588				-				588				248,049				248,637				-
Multifamily and farmland			-				12				12				28,925				28,937				-
Total real estate loans			8,184				670				8,854				637,659				646,513				-
Loans not secured by real estate:
Commercial loans			53				100				153				88,869				89,022				-
Farm loans			-				-				-				1,204				1,204				-
Consumer loans			113				5				118				9,770				9,888				-
All other loans			-				-				-				13,137				13,137				-
Total loans		$	8,350				775				9,125				750,639				759,764				-

December 31, 2016 (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		$	-				10				10				61,739				61,749				-
Single-family residential			4,890				80				4,970				235,730				240,700				-
Single-family residential -
Banco de la Gente stated income			5,250				249				5,499				34,690				40,189				-
Commercial			342				126				468				247,053				247,521				-
Multifamily and farmland			471				-				471				20,576				21,047				-
Total real estate loans			10,953				465				11,418				599,788				611,206				-
Loans not secured by real estate:
Commercial loans			273				-				273				87,323				87,596				-
Farm loans			-				-				-				-				-				-
Consumer loans			68				6				74				9,758				9,832				-
All other loans			3				-				3				15,174				15,177				-
Total loans		$	11,297				471				11,768				712,043				723,811				-

Non-accrual loans

(Dollars in thousands)
		December 31, 2017				December 31, 2016
Real estate loans:
Construction and land development		$	14				22
Single-family residential			1,634				1,662
Single-family residential -
Banco de la Gente stated income			1,543				1,340
Commercial			396				669
Multifamily and farmland			12				78
Total real estate loans			3,599				3,771
Loans not secured by real estate:
Commercial loans			100				21
Consumer loans			12				33
Total		$	3,711				3,825

Impaired loans

December 31, 2017
(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				YTD Interest Income Recognized
Real estate loans:
Construction and land development		$	282				-				277				277				6				253				17
Single-family residential			5,226				1,135				3,686				4,821				41				5,113				265
Single-family residential -
Banco de la Gente stated income			17,360				-				16,805				16,805				1,149				16,867				920
Commercial			2,761				807				1,661				2,468				1				3,411				148
Multifamily and farmland			78				-				12				12				-				28				-
Total impaired real estate loans			25,707				1,942				22,441				24,383				1,197				25,672				1,350
Loans not secured by real estate:
Commercial loans			264				100				4				104				-				149				3
Consumer loans			158				-				154				154				2				194				9
Total impaired loans		$	26,129				2,042				22,599				24,641				1,199				26,015				1,362

December 31, 2016 (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				YTD Interest Income Recognized
Real estate loans:
Construction and land development		$	282				-				278				278				11				330				13
Single-family residential			5,354				703				4,323				5,026				47				7,247				164
Single-family residential -
Banco de la Gente stated income			18,611				-				18,074				18,074				1,182				17,673				861
Commercial			3,750				1,299				2,197				3,496				166				4,657				152
Multifamily and farmland			78				-				78				78				-				78				-
Total impaired real estate loans			28,075				2,002				24,950				26,952				1,406				29,985				1,190
Loans not secured by real estate:
Commercial loans			27				-				27				27				-				95				-
Consumer loans			211				-				202				202				3				222				8
Total impaired loans		$	28,313				2,002				25,179				27,181				1,409				30,302				1,198

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				YTD Interest Income Recognized
Real estate loans:
Construction and land development		$	643				216				226				442				12				705				18
Single-family residential			8,828				1,489				6,805				8,294				189				10,852				224
Single-family residential -
Banco de la Gente stated income			20,375				-				19,215				19,215				1,143				18,414				921
Commercial			4,556				-				4,893				4,893				179				5,497				89
Multifamily and farmland			96				-				83				83				-				93				6
Total impaired real estate loans			34,498				1,705				31,222				32,927				1,523				35,561				1,258
Loans not secured by real estate:
Commercial loans			180				-				161				161				3				132				5
Consumer loans			286				-				260				260				4				283				11
Total impaired loans		$	34,964				1,705				31,643				33,348				1,530				35,976				1,274

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

(Dollars in thousands)
		Fair Value Measurements December 31, 2017				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage loans held for sale		$	857				-				-				857
Impaired loans		$	23,442				-				-				23,442
Other real estate		$	118				-				-				118
(Dollars in thousands)

		Fair Value Measurements December 31, 2016				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage loans held for sale		$	5,709				-				-				5,709
Impaired loans		$	25,772				-				-				25,772
Other real estate		$	283				-				-				283

(Dollars in thousands)
		Fair Value December 31, 2017				Fair Value December 31, 2016			Valuation Technique		Significant Unobservable Inputs				General Range of Significant Unobservable Input Values
Mortgage loans held for sale		$	857				5,709		Rate lock commitment		N/A					N/A
Impaired loans		$	23,442				25,772		Appraised value and discounted cash flows		Discounts to reflect current market conditions and ultimate collectability					0 - 25%
Other real estate		$	118				283		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, 2017 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		$	1,152				2,126				1,377				1,593				52				675				-				204				371				7,550
Charge-offs			-				(249	)			-				-				(66	)			(194	)			-				(473	)			-				(982	)
Recoveries			14				85				-				21				-				31				-				154				-				305
Provision			(362	)			(150	)			(97	)			(421	)			86				62				-				270				105				(507	)
Ending balance		$	804				1,812				1,280				1,193				72				574				-				155				476				6,366
Ending balance: individually
evaluated for impairment		$	-				-				1,093				37				-				-				-				-				-				1,130
Ending balance: collectively
evaluated for impairment			804				1,812				187				1,156				72				574				-				155				476				5,236
Ending balance		$	804				1,812				1,280				1,193				72				574				-				155				476				6,366
Loans:
Ending balance		$	84,987				246,703				37,249				248,637				28,937				89,022				1,204				23,025				-				759,764
Ending balance: individually
evaluated for impairment		$	98				1,855				15,460				2,251				-				100				-				-				-				19,764
Ending balance: collectively
evaluated for impairment		$	84,889				244,848				21,789				246,386				28,937				88,922				1,204				23,025				-				740,000

Changes in the allowance for loan losses for the year ended December 31, 2016 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		$	2,185				2,534				1,460				1,917				-				842				-				172				479				9,589
Charge-offs			(7	)			(275	)			-				(318	)			-				(146	)			-				(492	)			-				(1,238	)
Recoveries			10				55				-				19				-				170				-				151				-				405
Provision			(1,036	)			(188	)			(83	)			(25	)			52				(191	)			-				373				(108	)			(1,206	)
Ending balance		$	1,152				2,126				1,377				1,593				52				675				-				204				371				7,550
Ending balance: individually
evaluated for impairment		$	-				-				1,160				159				-				-				-				-				-				1,319
Ending balance: collectively
evaluated for impairment			1,152				2,126				217				1,434				52				675				-				204				371				6,231
Ending balance		$	1,152				2,126				1,377				1,593				52				675				-				204				371				7,550
Loans:
Ending balance		$	61,749				240,700				40,189				247,521				21,047				87,596				-				25,009				-				723,811
Ending balance: individually
evaluated for impairment		$	-				935				16,718				3,648				-				-				-				-				-				21,301
Ending balance: collectively
evaluated for impairment		$	61,749				239,765				23,471				243,873				21,047				87,596				-				25,009				-				702,510

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

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

December 31, 2017

(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		$	152				8,590				-				-				-				446				-				791				-				9,979
2- High Quality			20,593				120,331				-				34,360				561				17,559				-				3,475				2,410				199,289
3- Good Quality			53,586				89,120				14,955				196,439				25,306				65,626				1,085				5,012				9,925				461,054
4- Management Attention			4,313				20,648				15,113				13,727				1,912				5,051				119				562				802				62,247
5- Watch			6,060				4,796				3,357				3,671				1,146				223				-				23				-				19,276
6- Substandard			283				3,218				3,824				440				12				117				-				25				-				7,919
7- Doubtful			-				-				-				-				-				-				-				-				-				-
8- Loss			-				-				-				-				-				-				-				-				-				-
Total		$	84,987				246,703				37,249				248,637				28,937				89,022				1,204				9,888				13,137				759,764

December 31, 2016

(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		$	-				14,996				-				-				-				541			-				959				-				16,496
2- High Quality			9,784				109,809				-				39,769				2,884				26,006			-				3,335				2,507				194,094
3- Good Quality			33,633				82,147				16,703				176,109				14,529				55,155			-				4,842				10,921				394,039
4- Management Attention			10,892				25,219				15,580				24,753				2,355				5,586			-				619				1,749				86,753
5- Watch			7,229				4,682				3,943				4,906				1,201				246			-				31				-				22,238
6- Substandard			211				3,847				3,963				1,984				78				62			-				42				-				10,187
7- Doubtful			-				-				-				-				-				-			-				-				-				-
8- Loss			-				-				-				-				-				-			-				4				-				4
Total		$	61,749				240,700				40,189				247,521				21,047				87,596			-				9,832				15,177				723,811

Analysis of TDR loans by loan type

Year ended December 31, 2017
(Dollars in thousands)
		Number of Contracts				Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment
Real estate loans:
Single-family residential			2			$	22				22
Total TDR loans			2			$	22				22

Year ended December 31, 2016
(Dollars in thousands)
		Number of Contracts				Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment
Real estate loans:
Single-family residential			3			$	124				121
Total TDR loans			3			$	124				121

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-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953682-111524

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