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LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

12 Months Ended

Dec. 31, 2013

Loans

The following table provides the components of the Company’s recorded investment in loans at December 31, 2013 and 2012:

		Residential Real Estate				Land				Construction				Commercial Real Estate				Commercial Business				Home Equity and Second Mortgage				Other Consumer				Total
		(In thousands)
December 31, 2013:
Principal loan balance		$	107,029			$	10,309			$	8,996			$	76,496			$	21,956			$	34,815			$	33,486			$	293,087
Accrued interest receivable			427				49				22				202				56				126				168				1,050
Net deferred loan origination fees and costs			52				2				0				(32	)			(9	)			328				0				341
Recorded investment in loans		$	107,508			$	10,360			$	9,018			$	76,666			$	22,003			$	35,269			$	33,654			$	294,478
December 31, 2012:
Principal loan balance		$	108,097			$	9,607			$	11,746			$	68,731			$	18,612			$	36,962			$	31,186			$	284,941
Accrued interest receivable			444				48				29				188				53				147				184				1,093
Net deferred loan origination fees and costs			62				2				(12	)			(17	)			(10	)			177				0				202
Recorded investment in loans		$	108,603			$	9,657			$	11,763			$	68,902			$	18,655			$	37,286			$	31,370			$	286,236

Activity for Related Party Loans

The following table represents the aggregate activity for related party loans during the year ended December 31, 2013. The beginning balance has been adjusted to reflect new directors and officers, as well as directors and officers that are no longer with the Company.

(In thousands)
Beginning balance, as adjusted		$	6,084
New loans			7,427
Payments			(6,962	)
Ending balance		$	6,549

Allowance for Loan Losses

An analysis of the allowance for loan losses and recorded investment in loans as of and for the year ended December 31, 2013 is as follows:

		Residential Real Estate				Land				Construction				Commercial Real Estate				Commercial Business				Home Equity and Second Mortgage				Other Consumer				Total
		(In thousands)
Allowance for Loan Losses:
Beginning balance		$	922			$	71			$	0			$	1,310			$	1,223			$	919			$	291			$	4,736
Provisions			182				83				63				47				169				4				177				725
Charge-offs			(353	)			(2	)			0				(90	)			(20	)			(90	)			(337	)			(892	)
Recoveries			60				0				0				17				74				44				158				353
Ending balance		$	811			$	152			$	63			$	1,284			$	1,446			$	877			$	289			$	4,922
Ending allowance balance attributable to loans:
Individually evaluated for impairment		$	112			$	0			$	0			$	145			$	1,259			$	13			$	0			$	1,529
Collectively evaluated for impairment			699				152				63				1,139				187				864				289				3,393
Ending balance		$	811			$	152			$	63			$	1,284			$	1,446			$	877			$	289			$	4,922
Recorded Investment in Loans:
Individually evaluated for impairment		$	2,040			$	120			$	0			$	2,586			$	1,898			$	276			$	0			$	6,920
Collectively evaluated for impairment			105,468				10,240				9,018				74,080				20,105				34,993				33,654				287,558
Ending balance		$	107,508			$	10,360			$	9,018			$	76,666			$	22,003			$	35,269			$	33,654			$	294,478

An analysis of the allowance for loan losses and recorded investment in loans as of and for the year ended December 31, 2012 is as follows:

		Residential Real Estate				Land				Construction				Commercial Real Estate				Commercial Business				Home Equity and Second Mortgage				Other Consumer				Total
		(In thousands)
Allowance for Loan Losses:
Beginning balance		$	828			$	93			$	33			$	1,269			$	1,160			$	400			$	399			$	4,182
Provisions			496				(19	)			(33	)			145				70				834				32				1,525
Charge-offs			(418	)			(4	)			0				(104	)			(17	)			(342	)			(313	)			(1,198	)
Recoveries			16				1				0				0				10				27				173				227
Ending balance		$	922			$	71			$	0			$	1,310			$	1,223			$	919			$	291			$	4,736
Ending allowance balance attributable to loans:
Individually evaluated for impairment		$	213			$	0			$	0			$	275			$	1,098			$	66			$	0			$	1,652
Collectively evaluated for impairment			709				71				0				1,035				125				853				291				3,084
Ending balance		$	922			$	71			$	0			$	1,310			$	1,223			$	919			$	291			$	4,736
Recorded Investment in Loans:
Individually evaluated for impairment		$	2,591			$	125			$	403			$	2,836			$	1,776			$	73			$	0			$	7,804
Collectively evaluated for impairment			106,012				9,532				11,360				66,066				16,879				37,213				31,370				278,432
Ending balance		$	108,603			$	9,657			$	11,763			$	68,902			$	18,655			$	37,286			$	31,370			$	286,236

Impaired Loans

The following table summarizes the Company’s impaired loans as of and for the year ended December 31, 2013:

						Unpaid								Average				Interest				Interest
		Recorded				Principal				Related				Recorded				Income				Recognized –
		Investment				Balance				Allowance				Investment				Recognized				Cash Method
		(In thousands)
Loans with no related allowance recorded:
Residential real estate		$	1,591			$	1,869			$	0			$	1,508			$	32			$	22
Land			120				131				0				124				0				0
Construction			0				0				0				173				0				0
Commercial real estate			1,637				1,643				0				1,410				63				47
Commercial business			189				209				0				38				4				3
Home equity and second mortgage			254				268				0				164				5				4
Other consumer			0				0				0				0				0				0
			3,791				4,120				0				3,417				104				76
Loans with an allowance recorded:
Residential real estate			449				487				112				624				2				1
Land			0				0				0				1				0				0
Construction			0				0				0				0				0				0
Commercial real estate			949				1,048				145				1,108				0				0
Commercial business			1,709				1,909				1,259				1,801				0				0
Home equity and second mortgage			22				22				13				47				0				0
Other consumer			0				0				0				0				0				0
			3,129				3,466				1,529				3,581				2				1
Total:
Residential real estate			2,040				2,356				112				2,132				34				23
Land			120				131				0				125				0				0
Construction			0				0				0				173				0				0
Commercial real estate			2,586				2,691				145				2,518				63				47
Commercial business			1,898				2,118				1,259				1,839				4				3
Home equity and second mortgage			276				290				13				211				5				4
Other consumer			0				0				0				0				0				0
		$	6,920			$	7,586			$	1,529			$	6,998			$	106			$	77

The following table summarizes the Company’s impaired loans as of and for the year ended December 31, 2012:

						Unpaid								Average				Interest				Interest
		Recorded				Principal				Related				Recorded				Income				Recognized –
		Investment				Balance				Allowance				Investment				Recognized				Cash Method
		(In thousands)
Loans with no related allowance recorded:
Residential real estate		$	1,648			$	1,981			$	0			$	1,450			$	21			$	10
Land			125				126				0				125				6				9
Construction			403				413				0				315				0				0
Commercial real estate			1,535				1,944				0				1,292				0				1
Commercial business			0				0				0				0				0				0
Home equity and second mortgage			0				0				0				53				2				2
Other consumer			0				0				0				0				1				0
			3,711				4,464				0				3,235				30				22
Loans with an allowance recorded:
Residential real estate			943				1,020				213				1,110				7				6
Land			0				0				0				0				0				0
Construction			0				0				0				0				0				0
Commercial real estate			1,301				1,394				275				1,542				0				0
Commercial business			1,776				1,909				1,098				1,857				0				0
Home equity and second mortgage			73				73				66				103				0				0
Other consumer			0				0				0				0				0				0
			4,093				4,396				1,652				4,612				7				6
Total:
Residential real estate			2,591				3,001				213				2,560				28				16
Land			125				126				0				125				6				9
Construction			403				413				0				315				0				0
Commercial real estate			2,836				3,338				275				2,834				0				1
Commercial business			1,776				1,909				1,098				1,857				0				0
Home equity and second mortgage			73				73				66				156				2				2
Other consumer			0				0				0				0				1				0
		$	7,804			$	8,860			$	1,652			$	7,847			$	37			$	28

Recorded Investment in Nonperforming Loans

The following table presents the recorded investment in nonperforming loans at December 31, 2013 and 2012:

		December 31, 2013												December 31, 2012
		Nonaccrual Loans				Loans 90+ Days Past Due Still Accruing				Total Nonperforming Loans				Nonaccrual Loans				Loans 90+ Days Past Due Still Accruing				Total Nonperforming Loans
		(In thousands)
Residential real estate		$	1,533			$	180			$	1,713			$	2,370			$	215			$	2,585
Land			120				0				120				125				0				125
Construction			0				0				0				403				0				403
Commercial real estate			1,456				0				1,456				2,836				0				2,836
Commercial business			1,898				0				1,898				1,776				0				1,776
Home equity and second mortgage			252				39				291				73				56				129
Other consumer			0				8				8				0				18				18
Total		$	5,259			$	227			$	5,486			$	7,583			$	289			$	7,872

Recorded Investment in Loans by Risk Category

The following table presents the recorded investment in loans by risk category as of the date indicated:

		Residential Real Estate				Land				Construction				Commercial Real Estate				Commercial Business				Home Equity and Second Mortgage				Other Consumer				Total
		(In thousands)
December 31, 2013:
Pass		$	103,594			$	7,096			$	9,018			$	71,893			$	19,328			$	34,693			$	33,627			$	279,249
Special mention			756				0				0				2,627				458				198				27				4,066
Substandard			1,625				3,144				0				690				319				126				0				5,904
Doubtful			1,533				120				0				1,456				1,898				252				0				5,259
Loss			0				0				0				0				0				0				0				0
Total		$	107,508			$	10,360			$	9,018			$	76,666			$	22,003			$	35,269			$	33,654			$	294,478
December 31, 2012:
Pass		$	102,618			$	7,220			$	11,244			$	63,095			$	15,026			$	36,035			$	31,302			$	266,540
Special mention			958				17				116				1,018				1,354				553				25				4,041
Substandard			2,657				2,295				0				1,953				499				625				43				8,072
Doubtful			2,370				125				403				2,836				1,776				73				0				7,583
Loss			0				0				0				0				0				0				0				0
Total		$	108,603			$	9,657			$	11,763			$	68,902			$	18,655			$	37,286			$	31,370			$	286,236

Tdrs by Accrual Status

The following table summarizes the Company’s TDRs by accrual status as of December 31, 2013 and 2012:

		December 31, 2013																December 31, 2012
		Accruing				Nonaccrual				Total				Related Allowance for Loan Losses				Accruing				Nonaccrual				Total				Related Allowance for Loan Losses
		(In thousands)
Residential real estate		$	508			$	226			$	734			$	45			$	180			$	588			$	768			$	87
Construction			0				0				0				0				0				170				170				0
Commercial real estate			1,130				0				1,130				0				0				1,534				1,534				83
Commercial business			0				1,709				1,709				1,259				0				1,776				1,776				1,098
Home equity and second mortgage			24				0				24				0				41				31				72				25
Total		$	1,662			$	1,935			$	3,597			$	1,304			$	221			$	4,099			$	4,320			$	1,293

Information in Regard to Tdrs that Occurred During Period

The following table summarizes information in regard to TDRs that were restructured during the year ended December 31, 2013:

		Number of Contracts				Pre- Modification Outstanding Balance				Post- Modification Outstanding Balance
		(In thousands)
Residential real estate			5			$	310			$	310
Total			5			$	310			$	310

The following table summarizes information in regard to TDRs that were restructured during the year ended December 31, 2012:

		Number of Contracts				Pre- Modification Outstanding Balance				Post- Modification Outstanding Balance
		(In thousands)
Residential real estate			3			$	270			$	270
Home equity and second mortgage			2				65				65
Total			5			$	335			$	335

Loans

Loans

Loans at December 31, 2013 and 2012 consisted of the following:

(In thousands)		2012				2011
Real estate mortgage loans:
Residential		$	107,029			$	108,097
Land			10,309				9,607
Residential construction			14,423				12,753
Commercial real estate			76,496				68,731
Commercial real estate construction			1,715				3,299
Commercial business loans			21,956				18,612
Consumer loans:
Home equity and second mortgage loans			34,815				36,962
Automobile loans			23,983				21,922
Loans secured by savings accounts			1,138				770
Unsecured loans			3,541				3,191
Other consumer loans			4,824				5,303
Gross loans			300,229				289,247
Less undisbursed portion of loans in process			(7,142	)			(4,306	)
Principal loan balance			293,087				284,941
Deferred loan origination fees, net			341				202
Allowance for loan losses			(4,922	)			(4,736	)
Loans, net		$	288,506			$	280,407

Financing Receivable Recorded Investment Current Past Due

Loans

The following table presents the aging of the recorded investment in loans at December 31, 2013:

		30-59 Days Past Due				60-89 Days Past Due				Over 90 Days Past Due				Total Past Due				Current				Total Loans
		(In thousands)
Residential real estate		$	3,160			$	830			$	701			$	4,691			$	102,817			$	107,508
Land			162				109				12				283				10,077				10,360
Construction			0				0				0				0				9,018				9,018
Commercial real estate			231				500				49				780				75,886				76,666
Commercial business			0				0				189				189				21,814				22,003
Home equity and second mortgage			411				24				132				567				34,702				35,269
Other consumer			296				34				8				338				33,316				33,654
Total		$	4,260			$	1,497			$	1,091			$	6,848			$	287,630			$	294,478

The following table presents the aging of the recorded investment in loans at December 31, 2012:

		30-59 Days Past Due				60-89 Days Past Due				Over 90 Days Past Due				Total Past Due				Current				Total Loans
		(In thousands)
Residential real estate		$	4,085			$	871			$	1,644			$	6,600			$	102,003			$	108,603
Land			343				0				119				462				9,195				9,657
Construction			171				0				113				284				11,479				11,763
Commercial real estate			360				0				335				695				68,207				68,902
Commercial business			36				0				0				36				18,619				18,655
Home equity and second mortgage			1,206				102				97				1,405				35,881				37,286
Other consumer			510				30				18				558				30,812				31,370
Total		$	6,711			$	1,003			$	2,326			$	10,040			$	276,196			$	286,236

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