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Loans Receivable and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2013

Receivables [Abstract]

Company's Loan Portfolio

A summary of the Company’s loan portfolio at June 30, 2013 and December 31, 2012 is as follows:

		June 30, 2013				December 31, 2012
Real Estate
Commercial		$	236,223,829			$	247,495,321
Residential			117,416,181				119,033,025
Construction			3,470,518				4,997,991
Construction to permanent			9,904,369				4,851,768
Commercial			36,278,299				36,428,751
Consumer home equity			47,097,674				49,180,908
Consumer installment			1,992,136				2,162,718
Total Loans			452,383,006				464,150,482
Premiums on purchased loans			203,801				219,649
Net deferred costs			548,696				439,041
Allowance for loan losses			(5,322,070	)			(6,015,636	)
Loans receivable, net		$	447,813,433			$	458,793,536

Changes in the Allowance for Loan Losses for the Periods

The changes in the allowance for loan losses for the periods shown are as follows:

		Three months ended June 30,								Six months ended June 30,
		2013				2012				2013				2012
Balance, beginning of period		$	5,717,148			$	8,460,943			$	6,015,636			$	9,384,672
Provision for loan losses			—				(1,713,425	)			(29,786	)			(2,558,827	)
Loans charged-off			(411,790	)			(90,739	)			(717,174	)			(193,223	)
Recoveries of loans previously charged-off			16,712				16,869				53,394				41,026
Balance, end of period		$	5,322,070			$	6,673,648			$	5,322,070			$	6,673,648

Allowance for Loan Losses to Loan Portfolio Segment

The following table sets forth activity in our allowance for loan losses, by loan type, for the three months ended June 30, 2013. The following table also details the amount of loans receivable, net, that are evaluated individually, and collectively, for impairment, and the related portion of the allowance for loan losses that is allocated to each loan portfolio segment.

Three months ended June 30, 2013		Commercial				Commercial Real Estate				Construction				Construction to Permanent				Residential				Consumer				Unallocated				Total
Allowance for loan losses:
Beginning Balance		$	1,846,315			$	2,492,111			$	307,198			$	31,114			$	746,399			$	118,348			$	175,663			$	5,717,148
Charge-offs			—				(275,000	)			(23,104	)			—				(94,733	)			(18,953	)			—				(411,790	)
Recoveries			1,000				14,988				—				—				612				112				—				16,712
Provision			(125,627	)			(279,015	)			(47,610	)			(7,520	)			281,683				144,442				33,647				—
Ending Balance		$	1,721,688			$	1,953,084			$	236,484			$	23,594			$	933,961			$	243,949			$	209,310			$	5,322,070
Ending balance: individually evaluated for impairment		$	1,250,663			$	538,714			$	236,484			$	—			$	158,247			$	1,936			$	—			$	2,186,044
Ending balance: collectively evaluated for impairment			471,025				1,414,370				—				23,594				775,714				242,013				209,310				3,136,026
Total Allowance for Loan Losses		$	1,721,688			$	1,953,084			$	236,484			$	23,594			$	933,961			$	243,949			$	209,310			$	5,322,070
Total Loans ending balance		$	36,278,299			$	236,223,829			$	3,470,518			$	9,904,369			$	117,416,181			$	49,089,810			$	—			$	452,383,006
Ending balance:
individually evaluated for impairment		$	6,348,925			$	15,614,812			$	3,470,518			$	1,228,429			$	8,754,261			$	599,822			$	—			$	36,016,767
Ending balance :
collectively evaluated for impairment		$	29,929,374			$	220,609,017			$	—			$	8,675,940			$	108,661,920			$	48,489,988			$	—			$	416,366,239

The following table sets forth activity in our allowance for loan losses, by loan type, for the six months ended June 30, 2013. The following table also details the amount of loans receivable, net, that are evaluated individually, and collectively, for impairment, and the related portion of the allowance for loan losses that is allocated to each loan portfolio segment.

Six months ended June 30, 2013		Commercial				Commercial Real Estate				Construction				Construction to Permanent				Residential				Consumer				Unallocated				Total
Allowance for loan losses:
Beginning Balance		$	941,456			$	3,509,395			$	311,297			$	18,720			$	897,368			$	216,698			$	120,702			$	6,015,636
Charge-offs			—				(290,000	)			(23,104	)			—				(385,117	)			(18,953	)			—				(717,174	)
Recoveries			2,000				29,976				20,000				—				612				806				—				53,394
Provision			778,232				(1,296,287	)			(71,709	)			4,874				421,098				45,398				88,608				(29,786	)
Ending Balance		$	1,721,688			$	1,953,084			$	236,484			$	23,594			$	933,961			$	243,949			$	209,310			$	5,322,070
Ending balance: individually evaluated for impairment		$	1,250,663			$	538,714			$	236,484			$	—			$	158,247			$	1,936			$	—			$	2,186,044
Ending balance: collectively evaluated for impairment			471,025				1,414,370				—				23,594				775,714				242,013				209,310				3,136,026
Total Allowance for Loan Losses		$	1,721,688			$	1,953,084			$	236,484			$	23,594			$	933,961			$	243,949			$	209,310			$	5,322,070
Total Loans ending balance		$	36,278,299			$	236,223,829			$	3,470,518			$	9,904,369			$	117,416,181			$	49,089,810			$	—			$	452,383,006
Ending balance:
individually evaluated for impairment		$	6,348,925			$	15,614,812			$	3,470,518			$	1,228,429			$	8,754,261			$	599,822			$	—			$	36,016,767
Ending balance :
collectively evaluated for impairment		$	29,929,374			$	220,609,017			$	—			$	8,675,940			$	108,661,920			$	48,489,988			$	—			$	416,366,239

The following table sets forth activity in our allowance for loan losses, by loan type, for the year ended December 31, 2012. The following table also details the amount of loans receivable, net, that are evaluated individually, and collectively, for impairment, and the related portion of the allowance for loan losses that is allocated to each loan portfolio segment.

2012		Commercial				Commercial Real Estate				Construction				Construction to Permanent				Residential				Consumer				Unallocated				Total
Allowance for loan losses:
Beginning Balance		$	882,062			$	4,018,746			$	867,159			$	547,333			$	2,550,588			$	458,762			$	60,022			$	9,384,672
Charge-offs			(48,414	)			(49,922	)			(101,391	)			—				(84,711	)			(785,918	)			—				(1,070,356	)
Recoveries			10,861				66,951				—				—				—				2,731				—				80,543
Provision			96,947				(526,380	)			(454,471	)			(528,613	)			(1,568,509	)			541,123				60,680				(2,379,223	)
Ending Balance		$	941,456			$	3,509,395			$	311,297			$	18,720			$	897,368			$	216,698			$	120,702			$	6,015,636
Ending balance: individually evaluated for impairment		$	33,280			$	728,607			$	120,616			$	—			$	83,543			$	2,368			$	—			$	968,414
Ending balance: collectively evaluated for impairment			908,176				2,780,788				190,681				18,720				813,825				214,330				120,702				5,047,222
Total Allowance for Loan Losses		$	941,456			$	3,509,395			$	311,297			$	18,720			$	897,368			$	216,698			$	120,702			$	6,015,636
Total Loans ending balance		$	36,428,751			$	247,495,321			$	4,997,991			$	4,851,768			$	119,033,025			$	51,343,626			$	—			$	464,150,482
Ending balance:
individually evaluated for impairment		$	219,509			$	15,909,103			$	1,862,038			$	1,258,710			$	13,567,175			$	566,543			$	—			$	33,383,078
Ending balance :
collectively evaluated for impairment		$	36,209,242			$	231,586,218			$	3,135,953			$	3,593,058			$	105,465,850			$	50,777,083			$	—			$	430,767,404

Credit Risk Exposure of Loans Receivable, by Loan Type and Credit Quality Indicator

The following table details the credit risk exposure of loans receivable, by loan type and credit quality indicator at June 30, 2013:

CREDIT RISK PROFILE BY CREDITWORTHINESS CATEGORY

		Commercial								Commercial Real Estate								Construction								Construction to Permanent								Residential Real Estate								Consumer
LTVs:		< 75%				>= 75%				< 75%				>= 75%				< 75%				>= 75%				< 75%				>= 75%				< 75%				>= 75%				< 75%				>= 75%				Other				Total
Internal Risk Rating
Pass		$	24,279,503			$	2,506,139			$	196,311,404			$	6,837,773			$	—			$	—			$	8,675,940			$	—			$	86,632,838			$	24,827,976			$	43,847,982			$	4,478,031			$	657,208			$	399,054,794
Special Mention			946,488				—				12,619,340				5,272,043				—				—				—				—				—				—				934				—				—				18,838,805
Substandard			2,206,295				6,339,874				4,106,228				11,077,041				3,135,518				335,000				—				1,228,429				2,011,433				3,943,934				47,655				58,000				—				34,489,407
		$	27,432,286			$	8,846,013			$	213,036,972			$	23,186,857			$	3,135,518			$	335,000			$	8,675,940			$	1,228,429			$	88,644,271			$	28,771,910			$	43,896,571			$	4,536,031			$	657,208			$	452,383,006

CREDIT RISK PROFILE

		Commercial				Commercial Real Estate				Construction				Construction to Permanent				Residential Real Estate				Consumer				Totals
Performing		$	29,929,374			$	226,700,322			$	—			$	8,675,940			$	111,460,814			$	49,051,340			$	425,817,790
Non Performing			6,348,925				9,523,507				3,470,518				1,228,429				5,955,367				38,470				26,565,216
Total		$	36,278,299			$	236,223,829			$	3,470,518			$	9,904,369			$	117,416,181			$	49,089,810			$	452,383,006

The following table details the credit risk exposure of loans receivable, by loan type and credit quality indicator at December 31, 2012:

CREDIT RISK PROFILE BY CREDITWORTHINESS CATEGORY

		Commercial								Commercial Real Estate								Construction								Construction to Permanent								Residential Real Estate								Consumer
LTVs:		< 75%				>= 75%				< 75%				>= 75%				< 75%				>= 75%				< 75%				>= 75%				< 75%				>= 75%				< 75%				>= 75%				Other				Total
Internal Risk Rating
Pass		$	25,563,777			$	1,241,109			$	203,149,356			$	9,182,622			$	—			$	—			$	3,593,058			$	—			$	77,368,459			$	25,617,355			$	46,102,332			$	3,752,752			$	765,469			$	396,336,289
Special Mention			7,234,814				164,191				11,554,971				5,374,265				3,135,953				—				—				—				5,310,178				—				98,530				564,175				—				33,437,077
Substandard			2,014,401				210,459				8,503,630				9,730,477				—				1,862,038				—				1,258,710				2,524,186				8,212,847				2,368				58,000				—				34,377,116
		$	34,812,992			$	1,615,759			$	223,207,957			$	24,287,364			$	3,135,953			$	1,862,038			$	3,593,058			$	1,258,710			$	85,202,823			$	33,830,202			$	46,203,230			$	4,374,927			$	765,469			$	464,150,482

CREDIT RISK PROFILE

		Commercial				Commercial Real Estate				Construction				Construction to Permanent				Residential Real Estate				Consumer				Totals
Performing		$	36,209,242			$	237,764,844			$	3,135,953			$	3,593,058			$	108,295,992			$	51,341,258			$	440,340,347
Non Performing			219,509				9,730,477				1,862,038				1,258,710				10,737,033				2,368				23,810,135
Total		$	36,428,751			$	247,495,321			$	4,997,991			$	4,851,768			$	119,033,025			$	51,343,626			$	464,150,482

Delinquency Status, of Non-Accrual Loans and Past Due Loans

The following table sets forth the detail, and delinquency status, of non-accrual loans and past due loans at June 30, 2013:

		Non-Accrual and Past Due Loans
		Non-Accrual Loans
2013		31-60 Days Past Due				61-90 Days Past Due				Greater Than 90 Days				Total Past Due				Current				>90 Days Past Due and Accruing				Total Non- Accrual and Past Due Loans
Commercial
Pass		$	—			$	—			$	—			$	—			$	—			$	49,765			$	49,765
Substandard			—				—				6,348,925				6,348,925				—				750,000				7,098,925
Total Commercial		$	—			$	—			$	6,348,925			$	6,348,925			$	—			$	799,765			$	7,148,690
Commercial Real Estate
Pass		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Special Mention			—				—				—				—				—				—				—
Substandard		$	—			$	—			$	7,482,251			$	7,482,251			$	2,041,256			$	854,162			$	10,377,669
Total Commercial Real Estate		$	—			$	—			$	7,482,251			$	7,482,251			$	2,041,256			$	854,162			$	10,377,669
Construction
Substandard		$	—			$	—			$	3,470,518			$	3,470,518			$	—			$	—			$	3,470,518
Total Construction		$	—			$	—			$	3,470,518			$	3,470,518			$	—			$	—			$	3,470,518
Construction to Permanent
Substandard		$	—			$	—			$	—			$	—			$	1,228,429			$	—			$	1,228,429
Total Construction to Permanent		$	—			$	—			$	—			$	—			$	1,228,429			$	—			$	1,228,429
Residential Real Estate
Special Mention		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Substandard			—				—				5,217,476				5,217,476				737,891				—				5,955,367
Total Residential Real Estate		$	—			$	—			$	5,217,476			$	5,217,476			$	737,891			$	—			$	5,955,367
Consumer
Substandard		$	1,936			$	—			$	36,534			$	38,470			$	—			$	—			$	38,470
Total Consumer		$	1,936			$	—			$	36,534			$	38,470			$	—			$	—			$	38,470
Total		$	1,936			$	—			$	22,555,704			$	22,557,640			$	4,007,576			$	1,653,927			$	28,219,143

The following table sets forth the detail, and delinquency status, of non-accrual loans and past due loans at December 31, 2012:

		Non-Accrual and Past Due Loans
		Non-Accrual Loans
2012		31-60 Days Past Due				61-90 Days Past Due				Greater Than 90 Days				Total Past Due				Current				>90 Days Past Due and Accruing				Total Non- Accrual and Past Due Loans
Commercial
Special Mention		$	—			$	—			$	—			$	—			$	—			$	300,000			$	300,000
Substandard			—				—				182,258				182,258				37,251				500,000				719,509
Total Commercial		$	—			$	—			$	182,258			$	182,258			$	37,251			$	800,000			$	1,019,509
Commercial Real Estate
Pass		$	—			$	—			$	—			$	—			$	—			$	566,936			$	566,936
Special Mention			—				—				—				—				—				—				—
Substandard		$	—			$	—			$	7,629,819			$	7,629,819			$	2,100,658			$	867,361			$	10,597,838
Total Commercial Real Estate		$	—			$	—			$	7,629,819			$	7,629,819			$	2,100,658			$	1,434,297			$	11,164,774
Construction
Substandard		$	—			$	—			$	1,862,038			$	1,862,038			$	—			$	—			$	1,862,038
Total Construction		$	—			$	—			$	1,862,038			$	1,862,038			$	—			$	—			$	1,862,038
Construction to Permanent
Substandard		$	—			$	—			$	—			$	—			$	1,258,710			$	—			$	1,258,710
Total Construction to Permanent		$	—			$	—			$	—			$	—			$	1,258,710			$	—			$	1,258,710
Residential Real Estate
Substandard		$	—			$	358,123			$	10,231,542			$	10,589,665			$	147,368			$	—			$	10,737,033
Total Residential Real Estate		$	—			$	358,123			$	10,231,542			$	10,589,665			$	147,368			$	—			$	10,737,033
Consumer
Substandard		$	—			$	—			$	—			$	—			$	2,368			$	—			$	2,368
Total Consumer		$	—			$	—			$	—			$	—			$	2,368			$	—			$	2,368
Total		$	—			$	358,123			$	19,905,657			$	20,263,780			$	3,546,355			$	2,234,297			$	26,044,432

Delinquency Status of Loans Receivable, by Performing and Non-Performing Loans

The following table sets forth the detail and delinquency status of loans receivable, by performing and non-performing loans at June 30, 2013.

		Performing (Accruing) Loans
2013		31-60 Days Past Due				61-90 Days Past Due				Total Past Due				Current				Total Performing Loans				Total Non- Accrual and Past Due Loans				Total Loans
Commercial
Pass		$	14,455			$	9,365			$	23,820			$	26,712,057			$	26,735,877			$	49,765			$	26,785,642
Special Mention			23,025				—				23,025				923,463				946,488				—				946,488
Substandard			—				—				—				1,447,244				1,447,244				7,098,925				8,546,169
Total Commercial		$	37,480			$	9,365			$	46,845			$	29,082,764			$	29,129,609			$	7,148,690			$	36,278,299
Commercial Real Estate
Pass		$	—			$	—			$	—			$	203,149,177			$	203,149,177			$	—			$	203,149,177
Special Mention			—				—				—				17,891,383				17,891,383				—				17,891,383
Substandard			—				—				—				4,805,600				4,805,600				10,377,669				15,183,269
Total Commercial Real Estate		$	—			$	—			$	—			$	225,846,160			$	225,846,160			$	10,377,669			$	236,223,829
Construction
Pass		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Special Mention			—				—				—				—				—				—				—
Substandard			—				—				—				—				—				3,470,518				3,470,518
Total Construction		$	—			$	—			$	—			$	—			$	—			$	3,470,518			$	3,470,518
Construction to Permanent
Pass		$	—			$	—			$	—			$	8,675,940			$	8,675,940			$	—			$	8,675,940
Special Mention			—				—				—				—				—				—				—
Substandard			—				—				—				—				—				1,228,429				1,228,429
Total Construction to Permanent		$	—			$	—			$	—			$	8,675,940			$	8,675,940			$	1,228,429			$	9,904,369
Residential Real Estate
Pass		$	30,313			$	—			$	30,313			$	111,430,501			$	111,460,814			$	—			$	111,460,814
Special Mention			—				—				—				—				—				—				—
Substandard			—				—				—				—				—				5,955,367				5,955,367
Total Residential Real Estate		$	30,313			$	—			$	30,313			$	111,430,501			$	111,460,814			$	5,955,367			$	117,416,181
Consumer
Pass		$	87,081			$	—			$	87,081			$	48,896,140			$	48,983,221			$	—			$	48,983,221
Special Mention			—				934				934				—				934				—				934
Substandard			58,000				—				58,000				9,185				67,185				38,470				105,655
Total Consumer		$	145,081			$	934			$	146,015			$	48,905,325			$	49,051,340			$	38,470			$	49,089,810
Total		$	212,874			$	10,299			$	223,173			$	423,940,690			$	424,163,863			$	28,219,143			$	452,383,006

The following table sets forth the detail and delinquency status of loans receivable, net, by performing and non-performing loans at December 31, 2012.

		Performing (Accruing) Loans
2012		31-60 Days Past Due				Greater Than 60 Days				Total Past Due				Current				Total Perfoming Loans				Total Non- Accrual and Past Due Loans				Total Loans
Commercial
Pass		$	10,171			$	—			$	10,171			$	26,494,715			$	26,504,886			$	300,000			$	26,804,886
Special Mention			—				—				—				7,399,006				7,399,006				—				7,399,006
Substandard			—				—				—				1,505,350				1,505,350				719,509				2,224,859
Total Commercial		$	10,171			$	—			$	10,171			$	35,399,071			$	35,409,242			$	1,019,509			$	36,428,751
Commercial Real Estate
Pass		$	—			$	—			$	—			$	211,765,042			$	211,765,042			$	566,936			$	212,331,978
Special Mention			—				—				—				16,929,236				16,929,236				—				16,929,236
Substandard			—				—				—				7,636,269				7,636,269				10,597,838				18,234,107
Total Commercial Real Estate		$	—			$	—			$	—			$	236,330,547			$	236,330,547			$	11,164,774			$	247,495,321
Construction
Special Mention		$	—			$	—			$	—			$	3,135,953			$	3,135,953			$	—			$	3,135,953
Substandard			—				—				—				—				—				1,862,038				1,862,038
Total Construction		$	—			$	—			$	—			$	3,135,953			$	3,135,953			$	1,862,038			$	4,997,991
Construction to Permanent
Pass		$	—			$	—			$	—			$	3,593,058			$	3,593,058			$	—			$	3,593,058
Substandard			—				—				—				—				—				1,258,710				1,258,710
Total Construction to Permanent		$	—			$	—			$	—			$	3,593,058			$	3,593,058			$	1,258,710			$	4,851,768
Residential Real Estate
Pass		$	40,838			$	—			$	40,838			$	102,944,976			$	102,985,814			$	—			$	102,985,814
Special Mention			—				—				—				5,310,178				5,310,178				—				5,310,178
Substandard			—				—				—				—				—				10,737,033				10,737,033
Total Residential Real Estate		$	40,838			$	—			$	40,838			$	108,255,154			$	108,295,992			$	10,737,033			$	119,033,025
Consumer
Pass		$	—			$	12,443			$	12,443			$	50,608,110			$	50,620,553			$	—			$	50,620,553
Special Mention			—				—				—				662,705				662,705				—				662,705
Substandard			—				—				—				58,000				58,000				2,368				60,368
Total Consumer		$	—			$	12,443			$	12,443			$	51,328,815			$	51,341,258			$	2,368			$	51,343,626
Total		$	51,009			$	12,443			$	63,452			$	438,042,598			$	438,106,050			$	26,044,432			$	464,150,482

Summarizes Impaired Loans

The following table summarizes impaired loans as of June 30, 2013:

		Recorded Investment				Unpaid Principal Balance				Related Allowance
With no related allowance recorded:
Commercial		$	9,050			$	93,944			$	—
Commercial Real Estate			12,323,812				13,540,163				—
Construction			—				—				—
Construction to Permanent			1,228,429				1,425,000
Residential			8,108,728				8,240,449				—
Consumer			597,886				616,840				—
Total:		$	22,267,905			$	23,916,396			$	—
With an allowance recorded:
Commercial		$	6,339,875			$	6,516,667			$	1,250,663
Commercial Real Estate			3,291,000				3,606,947				538,714
Construction			3,470,518				3,645,247				236,484
Construction to Permanent			—				—				—
Residential			645,533				2,647,198				158,247
Consumer			1,936				2,156				1,936
Total:		$	13,748,862			$	16,418,215			$	2,186,044
Commercial		$	6,348,925			$	6,610,611			$	1,250,663
Commercial Real Estate			15,614,812				17,147,110				538,714
Construction			3,470,518				3,645,247				236,484
Construction to Permanent			1,228,429				1,425,000				—
Residential			8,754,261				10,887,647				158,247
Consumer			599,822				618,996				1,936
Total:		$	36,016,767			$	40,334,611			$	2,186,044

Impaired loans consist of non-accrual loans, TDRs and loans that were previously classified as TDRs that have been upgraded.

The following table summarizes impaired loans as of December 31, 2012:

		Recorded Investment				Unpaid Principal Balance				Related Allowance
With no related allowance recorded:
Commercial		$	46,301			$	131,195			$	—
Commercial Real Estate			12,328,103				13,369,985				—
Construction			—				—				—
Construction to Permanent			1,258,710				1,425,000				—
Residential			10,760,965				12,786,388				—
Consumer			564,175				564,175				—
Total:		$	24,958,254			$	28,276,743			$	—
With an allowance recorded:
Commercial		$	173,208			$	350,000			$	33,280
Commercial Real Estate			3,581,000				3,606,947				728,607
Construction			1,862,038				2,013,663				120,616
Construction to Permanent			—				—				—
Residential			2,806,210				2,806,766				83,543
Consumer			2,368				2,506				2,368
Total:		$	8,424,824			$	8,779,882			$	968,414
Commercial		$	219,509			$	481,195			$	33,280
Commercial Real Estate			15,909,103				16,976,932				728,607
Construction			1,862,038				2,013,663				120,616
Construction to Permanent			1,258,710				1,425,000				—
Residential			13,567,175				15,593,154				83,543
Consumer			566,543				566,681				2,368
Total:		$	33,383,078			$	37,056,625			$	968,414

Total Troubled Debt Restructured Loans

The following table presents the total troubled debt restructured loans as of June 30, 2013:

		Accrual								Non-accrual								Total
		# of								# of								# of
		Loans				Amount				Loans				Amount				Loans				Amount
Commercial Real Estate			—			$	—				2			$	3,921,256				2			$	3,921,256
Residential Real Estate			—				—				2				846,888				2				846,888
Construction to permanent			2				4,698,372				1				1,228,429				3				5,926,801
Total Troubled Debt Restructurings			2			$	4,698,372				5			$	5,996,573				7			$	10,694,945

The following table presents the total troubled debt restructured loans as of December 31, 2012:

		Accrual								Non-accrual								Total
		# of								# of								# of
		Loans				Amount				Loans				Amount				Loans				Amount
Commercial Real Estate			—			$	—				2			$	4,255,658				2			$	4,255,658
Residential Real Estate			—				—				3				5,519,232				3				5,519,232
Construction to permanent			—				—				1				1,258,710				1				1,258,710
Commercial			—				—				1				37,251				1				37,251
Consumer home equity			1				564,175				—				—				1				564,175
Total Troubled Debt Restructurings			1			$	564,175				7			$	11,070,851				8			$	11,635,026

Summarizes Loans that were Modified in a Troubled Debt Restructuring

No loans were modified in a troubled debt restructuring during the three months ended June 30, 2013. The following table summarizes loans that were modified in a troubled debt restructuring during the six months ended June 30, 2013.

		Six months ended June 30, 2013
		Number of Relationships				Pre-Modification Outstanding Recorded Investment				Number of Relationships				Post- Modification Outstanding Recorded Investment
Troubled Debt Restructurings Construction to permanent			2			$	4,730,324				2			$	4,698,372
Total Troubled Debt Restructurings			2			$	4,730,324				2			$	4,698,372

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