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Loans Receivable | 9 Months Ended
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Sep. 30, 2012
Receivables [Abstract] |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4 - Loans Receivable
|  | (Dollars in thousands) |  |  |  |
|  | September 30, 2012 |  |  | December 31, 2011 |
Loans secured by real estate: |  |  |  |  |  |  |  |
Construction and land development |  | $ | 22,926 |  |  | $ | 21,143 |
Residential, including home equity |  |  | 155,859 |  |  |  | 154,426 |
Commercial real estate and other dwelling |  |  | 175,516 |  |  |  | 153,715 |
Total loans secured by real estate |  |  | 354,301 |  |  |  | 329,284 |
Consumer loans |  |  | 428 |  |  |  | 472 |
Commercial business |  |  | 71,360 |  |  |  | 63,384 |
Government and other |  |  | 6,742 |  |  |  | 8,643 |
Subtotal |  |  | 432,831 |  |  |  | 401,783 |
Less: |  |  |  |  |  |  |  |
Net deferred loan origination fees |  |  | (262 | ) |  |  | (264 | )
Undisbursed loan funds |  |  | (57 | ) |  |  | (118 | )
Loans receivable |  | $ | 432,512 |  |  | $ | 401,401 |
(Dollars in thousands) |  | Residential Real Estate, Including Home Equity |  |  | Consumer Loans |  |  | Commercial Real Estate, Construction & Land Development, and Other Dwellings |  |  | Commercial Participations Purchased |  |  | Commercial Business Loans |  |  | Government |  |  | Total |
The Bancorp's activity in the allowance for loan losses is summarized below for the nine months ended September 30, 2012: |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance |  | $ | 1,161 |  |  | $ | 15 |  |  | $ | 3,329 |  |  | $ | 2,399 |  |  | $ | 1,101 |  |  | $ | - |  |  | $ | 8,005 |
Charge-offs |  |  | (236 | ) |  |  | (13 | ) |  |  | (254 | ) |  |  | (503 | ) |  |  | (210 | ) |  |  | - |  |  |  | (1,216 | )
Recoveries |  |  | 3 |  |  |  | 4 |  |  |  | 13 |  |  |  | 108 |  |  |  | 31 |  |  |  | - |  |  |  | 159 |
Provisions |  |  | 149 |  |  |  | 22 |  |  |  | 1,667 |  |  |  | (359 | ) |  |  | 146 |  |  |  | - |  |  |  | 1,625 |
Ending Balance |  | $ | 1,077 |  |  | $ | 28 |  |  | $ | 4,755 |  |  | $ | 1,645 |  |  | $ | 1,068 |  |  | $ | - |  |  | $ | 8,573 |
The Bancorp's activity in the allowance for loan losses is summarized below for the nine months ended September 30, 2011: |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance |  | $ | 994 |  |  | $ | 30 |  |  | $ | 2,773 |  |  | $ | 4,704 |  |  | $ | 620 |  |  | $ | - |  |  | $ | 9,121 |
Charge-offs |  |  | (457 | ) |  |  | (14 | ) |  |  | (682 | ) |  |  | (2,432 | ) |  |  | (113 | ) |  |  | - |  |  | $ | (3,698 | )
Recoveries |  |  | 111 |  |  |  | 11 |  |  |  | 182 |  |  |  | - |  |  |  | - |  |  |  | - |  |  | $ | 304 |
Provisions |  |  | 543 |  |  |  | (8 | ) |  |  | 1,150 |  |  |  | 331 |  |  |  | 619 |  |  |  | - |  |  | $ | 2,635 |
Ending Balance |  | $ | 1,191 |  |  | $ | 19 |  |  | $ | 3,423 |  |  | $ | 2,603 |  |  | $ | 1,126 |  |  | $ | - |  |  | $ | 8,362 |
The Bancorp's allowance for loan losses impairment evaluation at September 30, 2012: |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | $ | 10 |  |  | $ | - |  |  | $ | 1,470 |  |  | $ | - |  |  | $ | 245 |  |  | $ | - |  |  | $ | 1,725 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | $ | 1,067 |  |  | $ | 28 |  |  | $ | 3,285 |  |  | $ | 1,645 |  |  | $ | 823 |  |  | $ | - |  |  | $ | 6,848 |
FINANCING RECEIVABLES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance |  | $ | 155,548 |  |  | $ | 428 |  |  | $ | 173,842 |  |  | $ | 24,600 |  |  | $ | 71,352 |  |  | $ | 6,742 |  |  | $ | 432,512 |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | $ | 738 |  |  | $ | - |  |  | $ | 10,679 |  |  | $ | 5,775 |  |  | $ | 1,698 |  |  | $ | - |  |  | $ | 18,890 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | $ | 154,810 |  |  | $ | 428 |  |  | $ | 163,163 |  |  | $ | 18,825 |  |  | $ | 69,654 |  |  | $ | 6,742 |  |  | $ | 413,622 |
The Bancorp's allowance for loan losses impairment evaluation at December 31, 2011: |  |  |  |  |  |  |  |  |  |  |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | $ | 10 |  |  | $ | - |  |  | $ | 1,043 |  |  | $ | 252 |  |  | $ | 304 |  |  | $ | - |  |  | $ | 1,609 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | $ | 1,151 |  |  | $ | 15 |  |  | $ | 2,286 |  |  | $ | 2,147 |  |  | $ | 797 |  |  | $ | - |  |  | $ | 6,396 |
FINANCING RECEIVABLES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance |  | $ | 154,135 |  |  | $ | 472 |  |  | $ | 154,618 |  |  | $ | 20,240 |  |  | $ | 63,293 |  |  | $ | 8,643 |  |  | $ | 401,401 |
Ending balance: individually |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | $ | 1,282 |  |  | $ | - |  |  | $ | 11,007 |  |  | $ | 7,170 |  |  | $ | 2,214 |  |  | $ | - |  |  | $ | 21,673 |
Ending balance: collectively |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
evaluated for impairment |  | $ | 152,853 |  |  | $ | 472 |  |  | $ | 143,611 |  |  | $ | 13,070 |  |  | $ | 61,079 |  |  | $ | 8,643 |  |  | $ | 379,728 |
The Bancorp's credit quality indicators, are summarized below at September 30, 2012 and December 31, 2011:
|  | (Dollars in thousands) |
|  | Corporate Credit Exposure - Credit Risk Portfolio By Creditworthiness Category |
|  | Commercial Real Estate, Construction & Land Development, and Other Dwellings |  |  | Commercial Participations Purchased |  |  | Commercial Business Loans |  |  | Government |
Loan Grades |  |  | 2012 |  |  |  | 2011 |  |  |  | 2012 |  |  |  | 2011 |  |  |  | 2012 |  |  |  | 2011 |  |  |  | 2012 |  |  |  | 2011 |
2 Moderate risk |  | $ | 21 |  |  | $ | 25 |  |  | $ | - |  |  | $ | - |  |  | $ | 5,659 |  |  | $ | 4,467 |  |  | $ | - |  |  | $ | - |
3 Acceptable risk |  |  | 109,408 |  |  |  | 85,703 |  |  |  | 10,573 |  |  |  | 2,387 |  |  |  | 44,896 |  |  |  | 37,713 |  |  |  | 6,742 |  |  |  | 8,643 |
4 Pass/monitor |  |  | 50,285 |  |  |  | 51,429 |  |  |  | 1,050 |  |  |  | 5,903 |  |  |  | 15,779 |  |  |  | 17,532 |  |  |  | - |  |  |  | - |
5 Special mention (watch) |  |  | 3,657 |  |  |  | 5,509 |  |  |  | 7,202 |  |  |  | 4,780 |  |  |  | 2,869 |  |  |  | 978 |  |  |  | - |  |  |  | - |
6 Substandard |  |  | 10,471 |  |  |  | 11,952 |  |  |  | 5,775 |  |  |  | 7,170 |  |  |  | 2,149 |  |  |  | 2,603 |  |  |  | - |  |  |  | - |
7 Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 173,842 |  |  | $ | 154,618 |  |  | $ | 24,600 |  |  | $ | 20,240 |  |  | $ | 71,352 |  |  | $ | 63,293 |  |  | $ | 6,742 |  |  | $ | 8,643 |
|  | (Dollars in thousands) |
|  | Consumer Credit Exposure - Credit Risk Profile Based On Payment Activity |
|  | Residential Real Estate, Including Home Equity |  |  | Consumer Loans |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Performing |  | $ | 153,388 |  |  | $ | 151,375 |  |  | $ | 417 |  |  | $ | 472 |
Nonperforming |  |  | 2,160 |  |  |  | 2,760 |  |  |  | 11 |  |  |  | - |
Total |  | $ | 155,548 |  |  | $ | 154,135 |  |  | $ | 428 |  |  | $ | 472 |
The Bancorp has established a standard loan grading system to assist management, lenders and review personnel in their analysis and supervision of the loan portfolio. The use and application of theses grades by the Bancorp is uniform and conforms to regulatory definitions. The loan grading system is as follows: 2 - Moderate risk Borrower consistently internally generates sufficient cash flow to fund debt service, working assets, and some capital expenditures. Risk of default considered low. 3 – Acceptable risk Borrower generates sufficient cash flow to fund debt service, but most working asset and all capital expansion needs are provided from external sources. Profitability ratios and key balance sheet ratios are usually close to peers but one or more ratios (e.g. leverage) may be higher than peer. Earnings may be trending down over the last three years. Borrower may be able to obtain similar financing from other banks with comparable or less favorable terms. Risk of default is acceptable but requires collateral protection. 4 – Pass/monitor The borrower has significant weaknesses resulting from performance trends or management concerns. The financial condition of the company has taken a negative turn and may be temporarily strained. Cash flow may be weak but cash reserves remain adequate to meet debt service. Management weaknesses are evident. Borrowers in this category will warrant more than the normal level of supervision and more frequent reporting. 5 – Special mention (watch) Special mention credits are considered bankable assets with no apparent loss of principal or interest envisioned but requiring a high level of management attention. Assets in this category are currently protected but are potentially weak. These borrowers are subject to economic, industry, or management factors having an adverse impact upon their prospects for orderly service of debt. The perceived risk in continued lending is considered to have increased beyond the level where such loans would normally be granted. These assets constitute an undue and unwarranted credit risk, but not to the point of justifying a classification of Substandard. 6 – Substandard This classification consists of loans which are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged. Financial statements normally reveal some or all of the following: poor trends, lack of earnings and cash flow, excessive debt, lack of liquidity, and the absence of creditor protection. Loans are still considered collectible, but due to increased risks and defined weaknesses of the credit, some loss could be incurred in collection if the deficiencies are not corrected. 7 – Doubtful This classification consists of loans where the possibility of loss is high after collateral liquidation based upon existing facts, market conditions, and value. Loss is deferred until certain important and reasonably specific pending factors which may strengthen the credit can be exactly determined. These factors may include proposed acquisitions, liquidation procedures, capital injection and receipt of additional collateral, mergers or refinancing plans. Performing loans are loans that are paying as agreed and are less than ninety days past due on payments of interest and principal. The Bancorp's cumulative outstanding troubled debt restructurings are summarized below:
|  | (Dollars in thousands) |
|  | Number of Contracts |  |  | Pre-Modification Outstanding Recorded Investment |  |  | Post-Modification Outstanding Recorded Investment |  |  | Number of Contracts |  |  | Pre-Modification Outstanding Recorded Investment |  |  | Post-Modification Outstanding Recorded Investment |
|  | September 30, 2012 |  |  | December 31, 2011 |
Troubled debt restructurings outstanding at the end of the periods presented: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate, including home equity |  |  | 8 |  |  | $ | 741 |  |  | $ | 738 |  |  |  | 14 |  |  | $ | 1,290 |  |  | $ | 1,282 |
Consumer loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial real estate, construction & land development, and other dwellings |  |  | 6 |  |  |  | 9,098 |  |  |  | 8,724 |  |  |  | 3 |  |  |  | 8,097 |  |  |  | 7,836 |
Commercial participations purchased |  |  | 2 |  |  |  | 7,975 |  |  |  | 5,632 |  |  |  | 2 |  |  |  | 7,975 |  |  |  | 5,635 |
Commercial business loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Government |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | Number of Contracts |  |  | Recorded Investment |  |  | Number of Contracts |  |  | Recorded Investment |
|  | September 30, 2012 |  |  | December 31, 2011 |
Troubled debt restructurings that subsequently defaulted during the periods presented: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate, including home equity |  |  | - |  |  | $ | - |  |  |  | - |  |  | $ | - |
Consumer loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial real estate, construction & land development, and other dwellings |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | 376 |
Commercial participations purchased |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial business loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Government |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Troubled debt restructurings that subsequently defaulted during the period are loans that were restructured and, subsequent to restructuring, were unable perform within the guidelines of the restructured note. Troubled debt restructurings that subsequently defaulted are presented for comparison purposes and are relevant only to the period in which the subsequent default occurred. The Bancorp's individually evaluated impaired loans are summarized below:
|  | As of September 30, 2012 |  |  | For the nine months ended September 30, 2012 |
(Dollars in thousands) |  | Recorded Investment |  |  | Unpaid Principal Balance |  |  | Related Allowance |  |  | Average Recorded Investment |  |  | Interest Income Recognized |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate, including home equity |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Commercial real estate, construction & land development, and other dwellings |  |  | 219 |  |  |  | 303 |  |  |  | - |  |  |  | 677 |  |  |  | 5 |
Commercial participations purchased |  |  | 5,775 |  |  |  | 10,074 |  |  |  | - |  |  |  | 4,106 |  |  |  | - |
Commercial business loans |  |  | 1,012 |  |  |  | 1,095 |  |  |  | - |  |  |  | 864 |  |  |  | 35 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate, including home equity |  |  | 738 |  |  |  | 738 |  |  |  | 10 |  |  |  | 930 |  |  |  | 13 |
Commercial real estate, construction & land development, and other dwellings |  |  | 10,460 |  |  |  | 10,460 |  |  |  | 1,470 |  |  |  | 10,240 |  |  |  | 399 |
Commercial participations purchased |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,566 |  |  |  | - |
Commercial business loans |  |  | 686 |  |  |  | 686 |  |  |  | 245 |  |  |  | 1,047 |  |  |  | - |
Total: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate, including home equity |  | $ | 738 |  |  | $ | 738 |  |  | $ | 10 |  |  | $ | 930 |  |  | $ | 13 |
Commercial real estate, construction & land development, and other dwellings |  | $ | 10,679 |  |  | $ | 10,763 |  |  | $ | 1,470 |  |  | $ | 10,917 |  |  | $ | 404 |
Commercial participations purchased |  | $ | 5,775 |  |  | $ | 10,074 |  |  | $ | - |  |  | $ | 6,672 |  |  | $ | - |
Commercial business loans |  | $ | 1,698 |  |  | $ | 1,781 |  |  | $ | 245 |  |  | $ | 1,911 |  |  | $ | 35 |
|  | As of December 31, 2011 |  |  | For the nine months ended September 30, 2011 |
(Dollars in thousands) |  | Recorded investment |  |  | Unpaid principal balance |  |  | Related allowance |  |  | Average Recorded Investment |  |  | Interest Income Recognized |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate, including home equity |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 32 |  |  | $ | - |
Commercial real estate, construction & land development, and other dwellings |  |  | 690 |  |  |  | 880 |  |  |  | - |  |  |  | 923 |  |  |  | 16 |
Commercial participations purchased |  |  | 2,483 |  |  |  | 8,158 |  |  |  | - |  |  |  | 2,651 |  |  |  | 182 |
Commercial business loans |  |  | 793 |  |  |  | 818 |  |  |  | - |  |  |  | 568 |  |  |  | 11 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate, including home equity |  |  | 1,282 |  |  |  | 1,282 |  |  |  | 10 |  |  |  | - |  |  |  | - |
Commercial real estate, construction & land development, and other dwellings |  |  | 10,317 |  |  |  | 12,662 |  |  |  | 1,043 |  |  |  | 9,415 |  |  |  | 445 |
Commercial participations purchased |  |  | 4,687 |  |  |  | 4,687 |  |  |  | 252 |  |  |  | 10,463 |  |  |  | 216 |
Commercial business loans |  |  | 1,421 |  |  |  | 1,421 |  |  |  | 304 |  |  |  | 873 |  |  |  | 2 |
Total: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate, including home equity |  | $ | 1,282 |  |  | $ | 1,282 |  |  | $ | 10 |  |  | $ | 32 |  |  | $ | - |
Commercial real estate, construction & land development, and other dwellings |  | $ | 11,007 |  |  | $ | 13,542 |  |  | $ | 1,043 |  |  | $ | 10,338 |  |  | $ | 461 |
Commercial participations purchased |  | $ | 7,170 |  |  | $ | 12,845 |  |  | $ | 252 |  |  | $ | 13,114 |  |  | $ | 398 |
Commercial business loans |  | $ | 2,214 |  |  | $ | 2,239 |  |  | $ | 304 |  |  | $ | 1,441 |  |  | $ | 13 |
The Bancorp's age analysis of past due financing receivables is summarized below:
(Dollars in thousands)
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | Greater Than 90 Days Past Due |  |  | Total Past Due |  |  | Current |  |  | Total Financing Receivables |  |  | Recorded Investments Greater than 90 Days and Accruing |
September 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate, including home equity |  | $ | 6,119 |  |  | $ | 664 |  |  | $ | 1,783 |  |  | $ | 8,566 |  |  | $ | 146,982 |  |  | $ | 155,548 |  |  | $ | 166 |
Consumer loans |  |  | 3 |  |  |  | - |  |  |  | - |  |  |  | 3 |  |  |  | 425 |  |  |  | 428 |  |  |  | - |
Commercial real estate, construction & land development, and other dwellings |  |  | 3,167 |  |  |  | 659 |  |  |  | 2,277 |  |  |  | 6,103 |  |  |  | 167,739 |  |  |  | 173,842 |  |  |  | 84 |
Commercial participations purchased |  |  | 5 |  |  |  | - |  |  |  | 5,775 |  |  |  | 5,780 |  |  |  | 18,820 |  |  |  | 24,600 |  |  |  | - |
Commercial business loans |  |  | 960 |  |  |  | 1,186 |  |  |  | 487 |  |  |  | 2,633 |  |  |  | 68,719 |  |  |  | 71,352 |  |  |  | - |
Government |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6,742 |  |  |  | 6,742 |  |  |  | - |
Total |  | $ | 10,254 |  |  | $ | 2,509 |  |  | $ | 10,322 |  |  | $ | 23,085 |  |  | $ | 409,427 |  |  | $ | 432,512 |  |  | $ | 250 |
December 31, 2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate, including home equity |  | $ | 3,413 |  |  | $ | 874 |  |  | $ | 2,663 |  |  | $ | 6,950 |  |  | $ | 147,185 |  |  | $ | 154,135 |  |  | $ | 279 |
Consumer loans |  |  | 7 |  |  |  | - |  |  |  | - |  |  |  | 7 |  |  |  | 465 |  |  |  | 472 |  |  |  | - |
Commercial real estate, construction & land development, and other dwellings |  |  | 604 |  |  |  | 238 |  |  |  | 1,616 |  |  |  | 2,458 |  |  |  | 152,160 |  |  |  | 154,618 |  |  |  | - |
Commercial participations purchased |  |  | 7 |  |  |  | - |  |  |  | 7,169 |  |  |  | 7,176 |  |  |  | 13,064 |  |  |  | 20,240 |  |  |  | - |
Commercial business loans |  |  | 458 |  |  |  | 323 |  |  |  | 717 |  |  |  | 1,498 |  |  |  | 61,795 |  |  |  | 63,293 |  |  |  | - |
Government |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 8,643 |  |  |  | 8,643 |  |  |  | - |
Total |  | $ | 4,489 |  |  | $ | 1,435 |  |  | $ | 12,165 |  |  | $ | 18,089 |  |  | $ | 383,312 |  |  | $ | 401,401 |  |  | $ | 279 |
The Bancorp's financing receivables on nonaccrual status are summarized below:
|  | (Dollars in thousands) |
|  | September 30, 2012 |  |  | December 31, 2011 |
Residential real estate, including home equity |  | $ | 2,160 |  |  | $ | 2,481 |
Consumer loans |  |  | 11 |  |  |  | - |
Commercial real estate, construction & land development, and other dwellings |  |  | 2,193 |  |  |  | 3,433 |
Commercial participations purchased |  |  | 5,775 |  |  |  | 7,170 |
Commercial business loans |  |  | 1,376 |  |  |  | 926 |
Government |  |  | - |  |  |  | - |
Total |  | $ | 11,515 |  |  | $ | 14,010 |

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