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Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2014

Loans

The following table provides the components of the Company’s recorded investment in loans at March 31, 2014:

		Residential												Commercial				Commercial				Home Equity &				Other
		Real Estate				Land				Construction				Real Estate				Business				2nd Mtg				Consumer				Total
		(In thousands)
Recorded Investment in Loans:
Principal loan balance		$	106,252			$	10,082			$	9,664			$	77,764			$	21,201			$	34,482			$	32,424			$	291,869
Accrued interest receivable			395				36				19				166				52				124				125				917
Net deferred loan origination fees and costs			56				2				0				(32	)			(9	)			349				0				366
Recorded investment in loans		$	106,703			$	10,120			$	9,683			$	77,898			$	21,244			$	34,955			$	32,549			$	293,152
Recorded Investment in Loans as Evaluated for Impairment:
Individually evaluated for impairment		$	1,638			$	118			$	0			$	2,723			$	1,898			$	210			$	0			$	6,587
Collectively evaluated for impairment			105,065				10,002				9,683				75,175				19,346				34,745				32,549				286,565
Acquired with deteriorated credit quality			0				0				0				0				0				0				0				0
Ending balance		$	106,703			$	10,120			$	9,683			$	77,898			$	21,244			$	34,955			$	32,549			$	293,152

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

		Residential												Commercial				Commercial				Home Equity &				Other
		Real Estate				Land				Construction				Real Estate				Business				2nd Mtg				Consumer				Total
		(In thousands)
Recorded Investment in Loans:
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
Recorded Investment in Loans as Evaluated for Impairment:
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
Acquired with deteriorated credit quality			0				0				0				0				0				0				0				0
Ending balance		$	107,508			$	10,360			$	9,018			$	76,666			$	22,003			$	35,269			$	33,654			$	294,478

Allowance for Loan Losses

An analysis of the allowance for loan losses as of March 31, 2014 is as follows:

		Residential												Commercial				Commercial				Home Equity &				Other
		Real Estate				Land				Construction				Real Estate				Business				2nd Mtg				Consumer				Total
		(In thousands)
Ending allowance balance attributable to loans:
Individually evaluated for impairment		$	70			$	0			$	0			$	127			$	1,259			$	4			$	0			$	1,460
Collectively evaluated for impairment			768				144				70				1,149				191				898				331				3,551
Acquired with deteriorated credit quality			0				0				0				0				0				0				0				0
Ending balance		$	838			$	144			$	70			$	1,276			$	1,450			$	902			$	331			$	5,011

An analysis of the allowance for loan losses as of December 31, 2013 is as follows:

		Residential												Commercial				Commercial				Home Equity &				Other
		Real Estate				Land				Construction				Real Estate				Business				2nd Mtg				Consumer				Total
		(In thousands)
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
Acquired with deteriorated credit quality			0				0				0				0				0				0				0				0
Ending balance		$	811			$	152			$	63			$	1,284			$	1,446			$	877			$	289			$	4,922

An analysis of the changes in the allowance for loan losses for the three months ended March 31, 2014 is as follows:

		Residential												Commercial				Commercial				Home Equity &				Other
		Real Estate				Land				Construction				Real Estate				Business				2nd Mtg				Consumer				Total
		(In thousands)
Allowance for loan losses:
Changes in Allowance for Loan Losses for the three-months ended March 31, 2014
Beginning balance		$	811			$	152			$	63			$	1,284			$	1,446			$	877			$	289			$	4,922
Provisions for loan losses			88				(8	)			7				(8	)			3				(111	)			54				25
Charge-offs			(63	)			0				0				0				0				(18	)			(52	)			(133	)
Recoveries			2				0				0				0				1				154				40				197
Ending balance		$	838			$	144			$	70			$	1,276			$	1,450			$	902			$	331			$	5,011

An analysis of the changes in the allowance for loan losses for the three months ended March 31, 2013 is as follows:

		Residential												Commercial				Commercial				Home Equity &				Other
		Real Estate				Land				Construction				Real Estate				Business				2nd Mtg				Consumer				Total
		(In thousands)
Allowance for loan losses:
Changes in Allowance for Loan Losses for the three-months ended March 31, 2014
Beginning balance		$	922			$	71			$	0			$	1,310			$	1,223			$	919			$	291			$	4,736
Provisions for loan losses			213				(2	)			50				(33	)			(46	)			(33	)			101				250
Charge-offs			(198	)			0				0				0				0				(14	)			(105	)			(317	)
Recoveries			3				0				0				14				49				14				43				123
Ending balance		$	940			$	69			$	50			$	1,291			$	1,226			$	886			$	330			$	4,792

Impaired Loans

The following table summarizes the Company’s impaired loans as of March 31, 2014 and for the three months ended March 31, 2014 and 2013:

		At March 31, 2014												Three Months Ended March 31, 2014												Three Months Ended March 31, 2013
		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized				Interest Recognized - Cash Method				Average Recorded Investment				Interest Income Recognized				Interest Recognized - Cash Method
		(In thousands)
Loans with no related allowance recorded:
Residential		$	1,373			$	1,671			$	0			$	1,482			$	10			$	13			$	1,594			$	4			$	3
Land			118				132				0				119				0				0				125				0				0
Construction			0				0				0				0				0				0				332				0				0
Commercial real estate			1,792				2,053				0				1,715				17				17				2,022				9				3
Commercial business			189				209				0				189				0				0				0				0				0
Home equity/2nd mortgage			197				208				0				226				1				0				121				1				0
Other consumer			0				0				0				0				0				0				0				0				0
			3,669				4,273				0				3,731				28				30				4,194				14				6
Loans with an allowance recorded:
Residential			265				293				70				357				0				0				776				0				0
Land			0				0				0				0				0				0				3				0				0
Construction			0				0				0				0				0				0				0				0				0
Commercial real estate			931				1,040				127				940				0				0				1,318				0				0
Commercial business			1,709				1,909				1,259				1,709				0				0				1,776				0				0
Home equity/2nd mortgage			13				13				4				18				0				0				53				0				0
Other consumer			0				0				0				0				0				0				0				0				0
			2,918				3,255				1,460				3,024				0				0				3,926				0				0
Total:
Residential			1,638				1,964				70				1,839				10				13				2,370				4				3
Land			118				132				0				119				0				0				128				0				0
Construction			0				0				0				0				0				0				332				0				0
Commercial real estate			2,723				3,093				127				2,655				17				17				3,340				9				3
Commercial business			1,898				2,118				1,259				1,898				0				0				1,776				0				0
Home equity/2nd mortgage			210				221				4				244				1				0				174				1				0
Other consumer			0				0				0				0				0				0				0				0				0
		$	6,587			$	7,528			$	1,460			$	6,755			$	28			$	30			$	8,120			$	14			$	6

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

						Unpaid
		Recorded				Principal				Related
		Investment				Balance				Allowance
		(In thousands)
Loans with no related allowance recorded:
Residential		$	1,591			$	1,869			$	0
Land			120				131				0
Construction			0				0				0
Commercial real estate			1,637				1,643				0
Commercial business			189				209				0
Home equity/2nd mortgage			254				268				0
Other consumer			0				0				0
			3,791				4,120				0
Loans with an allowance recorded:
Residential			449				487				112
Land			0				0				0
Construction			0				0				0
Commercial real estate			949				1,048				145
Commercial business			1,709				1,909				1,259
Home equity/2nd mortgage			22				22				13
Other consumer			0				0				0
			3,129				3,466				1,529
Total:
Residential			2,040				2,356				112
Land			120				131				0
Construction			0				0				0
Commercial real estate			2,586				2,691				145
Commercial business			1,898				2,118				1,259
Home equity/2nd mortgage			276				290				13
Other consumer			0				0				0
		$	6,920			$	7,586			$	1,529

Recorded Investment in Nonperforming Loans

The following table presents the recorded investment in nonperforming loans at March 31, 2014 and December 31, 2013:

		March 31, 2014												December 31, 2013
		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		$	1,123			$	147			$	1,270			$	1,533			$	180			$	1,713
Land			118				0				118				120				0				120
Construction			0				0				0				0				0				0
Commercial real estate			1,424				0				1,424				1,456				0				1,456
Commercial business			1,898				0				1,898				1,898				0				1,898
Home equity/2nd mortgage			186				26				212				252				39				291
Other consumer			0				0				0				0				8				8
Total		$	4,749			$	173			$	4,922			$	5,259			$	227			$	5,486

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 & 2nd Mtg				Other Consumer				Total
		(In thousands)
March 31, 2014
Pass		$	103,842			$	6,915			$	9,683			$	72,958			$	18,262			$	34,468			$	32,534			$	278,662
Special Mention			424				0				0				2,709				768				99				15				4,015
Substandard			1,314				3,087				0				807				316				202				0				5,726
Doubtful			1,123				118				0				1,424				1,898				186				0				4,749
Loss			0				0				0				0				0				0				0				0
Ending balance		$	106,703			$	10,120			$	9,683			$	77,898			$	21,244			$	34,955			$	32,549			$	293,152
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
Ending balance		$	107,508			$	10,360			$	9,018			$	76,666			$	22,003			$	35,269			$	33,654			$	294,478

Troubled Debt Restructurings by Accrual Status

The following table summarizes the Company’s troubled debt restructurings (TDRs) by accrual status as of March 31, 2014 and December 31, 2013:

		March 31, 2014																December 31, 2013
		Accruing				Nonaccrual				Total				Related Allowance for Loan Losses				Accruing				Nonaccrual				Total				Related Allowance for Loan Losses
		(In thousands)
Troubled debt restructurings:
Residential real estate		$	504			$	174			$	678			$	0			$	508			$	226			$	734			$	45
Commercial real estate			1,294				364				1,658				0				1,130				0				1,130				0
Commercial business			0				1,710				1,710				1,259				0				1,709				1,709				1,259
Home equity and 2nd mortgage			23				0				23				0				24				0				24				0
Total		$	1,821			$	2,248			$	4,069			$	1,259			$	1,662			$	1,935			$	3,597			$	1,304

Information in Regard to Troubled Debt Restructurings that Occurred During Period

The following table summarizes information in regard to TDRs that were restructured during the three months ended March 31, 2014:

		Three months ended March 31, 2014
		Number of Contracts				Pre-Modification Outstanding Balance				Post-Modification Outstanding Balance
		(Dollars in thousands)
Troubled debt restructurings:
Commercial real estate			3			$	542			$	542
Total			3			$	542			$	542

Loans

Loans

Loans at March 31, 2014 and December 31, 2013 consisted of the following:

		March 31,				December 31,
(In thousands)		2014				2013
Real estate mortgage loans:
Residential		$	106,252			$	107,029
Land			10,082				10,309
Residential construction			14,729				14,423
Commercial real estate			77,764				76,496
Commercial real estate contruction			1,078				1,715
Commercial business loans			21,201				21,956
Consumer loans:
Home equity and second mortgage loans			34,482				34,815
Automobile loans			23,630				23,983
Loans secured by savings accounts			1,041				1,138
Unsecured loans			3,413				3,541
Other consumer loans			4,340				4,824
Gross loans			298,012				300,229
Less undisbursed portion of loans in process			(6,143	)			(7,142	)
Principal loan balance			291,869				293,087
Deferred loan origination fees, net			366				341
Allowance for loan losses			(5,011	)			(4,922	)
Loans, net		$	287,224			$	288,506

Financing Receivable Recorded Investment Current Past Due

Loans

The following table presents the aging of the recorded investment in loans at March 31, 2014:

		30-59 Days Past Due				60-89 Days Past Due				90 Days or More Past Due				Total Past Due				Current				Total Loans
		(In thousands)
Residential		$	3,326			$	305			$	487			$	4,118			$	102,585			$	106,703
Land			159				0				0				159				9,961				10,120
Construction			0				0				0				0				9,683				9,683
Commercial real estate			109				0				0				109				77,789				77,898
Commercial business			0				0				189				189				21,055				21,244
Home equity/2nd mortgage			336				100				100				536				34,419				34,955
Other consumer			161				30				0				191				32,358				32,549
Total		$	4,091			$	435			$	776			$	5,302			$	287,850			$	293,152

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				90 Days or More Past Due				Total Past Due				Current				Total Loans
		(In thousands)
Residential		$	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/2nd 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

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- 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.

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-SubTopic 10

-Section 50

-Paragraph 33

-URI http://asc.fasb.org/extlink&oid=28368275&loc=SL6953676-111524

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