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Loans and Allowance for Loan Losses | 12 Months Ended
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Dec. 31, 2011
Loans and Allowance For Loan Losses [Abstract] |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4: Loans and Allowance for Loan Losses Categories of loans at December 31 include:
($ in thousands) |  | Total Loans |  |  | Non-Accrual Loans |  |  | Non-Accrual Percentage |
|  | 2011 |  |  | 2010 |  |  | 2011 |  |  | 2010 |  |  | 2011 |  |  | 2010 |
Commercial |  | $ | 78,112 |  |  | $ | 72,489 |  |  |  | 2,393 |  |  |  | 3,032 |  |  |  | 3.06 | % |  |  | 4.18 | %
Commercial real estate |  |  | 187,829 |  |  |  | 177,890 |  |  |  | 1,456 |  |  |  | 5,428 |  |  |  | 0.78 | % |  |  | 3.05 | %
Agricultural |  |  | 38,361 |  |  |  | 40,762 |  |  |  | - |  |  |  | - |  |  |  | 0.00 | % |  |  | 0.00 | %
Residential real estate |  |  | 87,656 |  |  |  | 84,775 |  |  |  | 2,471 |  |  |  | 3,285 |  |  |  | 2.82 | % |  |  | 3.87 | %
Consumer |  |  | 50,681 |  |  |  | 51,710 |  |  |  | 580 |  |  |  | 538 |  |  |  | 1.14 | % |  |  | 1.04 | %
Leasing |  |  | 216 |  |  |  | 194 |  |  |  | - |  |  |  | - |  |  |  | 0.00 | % |  |  | 0.00 | %
Total loans |  |  | 442,855 |  |  |  | 427,820 |  |  |  | 6,900 |  |  |  | 12,283 |  |  |  | 1.56 | % |  |  | 2.87 | %
Less |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net deferred loan fees, premiums and discounts |  |  | (301 | ) |  |  | (276 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans, net of unearned income |  |  | 442,554 |  |  |  | 427,544 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses |  | $ | (6,529 | ) |  | $ | (6,715 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
The following tables present the balance of the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of December 31, 2011 and 2010.
For the Year Ended |  |  |  |  | Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2011 |  | Commercial |  |  | RE & |  |  | Agricultural |  |  | Residential |  |  | Home Equity |  |  |  |  |  |  |  |  |  |
($'s in thousands) |  | & Industrial |  |  | Construction |  |  | & Farmland |  |  | Real Estate |  |  | & Consumer |  |  | Other |  |  | Unallocated |  |  | Total |
Beginning balance |  | $ | 1,723 |  |  | $ | 3,774 |  |  | $ | 16 |  |  | $ | 643 |  |  | $ | 401 |  |  | $ | 128 |  |  | $ | 30 |  |  | $ | 6,715 |
Charge Offs |  |  | (642 | ) |  |  | (2,057 | ) |  |  | - |  |  |  | (248 | ) |  |  | (460 | ) |  |  | - |  |  |  | - |  |  |  | (3,407 | )
Recoveries |  |  | 465 |  |  |  | 32 |  |  |  | 3 |  |  |  | 700 |  |  |  | 21 |  |  |  | 6 |  |  |  | - |  |  |  | 1,227 |
Provision |  |  | 368 |  |  |  | 1,131 |  |  |  | 32 |  |  |  | (139 | ) |  |  | 637 |  |  | $ | 5 |  |  |  | (40 | ) |  |  | 1,994 |
Ending Balance |  | $ | 1,914 |  |  | $ | 2,880 |  |  | $ | 51 |  |  | $ | 956 |  |  | $ | 599 |  |  | $ | 139 |  |  | $ | (10 | ) |  | $ | 6,529 |
Ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
individually evaluated for impairment |  | $ | 1,017 |  |  | $ | 19 |  |  | $ | 5 |  |  | $ | 280 |  |  | $ | 212 |  |  |  |  |  |  |  |  |  |  | $ | 1,533 |
Ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
individually evaluated for impairment |  | $ | 897 |  |  | $ | 2,861 |  |  | $ | 46 |  |  | $ | 676 |  |  | $ | 387 |  |  | $ | 139 |  |  | $ | (10 | ) |  | $ | 4,996 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
individually evaluated for impairment |  | $ | 3,283 |  |  | $ | 2,473 |  |  | $ | 5 |  |  | $ | 2,074 |  |  | $ | 543 |  |  |  |  |  |  |  |  |  |  | $ | 8,378 |
Ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
individually evaluated for impairment |  | $ | 74,829 |  |  | $ | 185,356 |  |  | $ | 38,356 |  |  | $ | 85,582 |  |  | $ | 50,138 |  |  | $ | 216 |  |  | $ | - |  |  | $ | 434,477 |
For the Year Ended |  |  |  |  | Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2010 |  | Commercial |  |  | RE & |  |  | Agricultural |  |  | Residential |  |  | Home Equity |  |  |  |  |  |  |  |  |  |
($'s in thousands) |  | & Industrial |  |  | Construction |  |  | & Farmland |  |  | Real Estate |  |  | & Consumer |  |  | Other |  |  | Unallocated |  |  | Total |
Beginning balance |  | $ | 2,604 |  |  | $ | 3,210 |  |  | $ | 92 |  |  | $ | 715 |  |  | $ | 255 |  |  | $ | 154 |  |  | $ | - |  |  | $ | 7,030 |
Charge Offs |  |  | (4,739 | ) |  |  | (4,748 | ) |  |  | - |  |  |  | (1,210 | ) |  |  | (542 | ) |  |  | (95 | ) |  |  | - |  |  |  | (11,334 | )
Recoveries |  |  | 182 |  |  |  | 171 |  |  |  | 11 |  |  |  | 53 |  |  |  | - |  |  |  | 14 |  |  |  | - |  |  |  | 431 |
Provision |  |  | 3,676 |  |  |  | 5,141 |  |  |  | (87 | ) |  |  | 1,085 |  |  |  | 688 |  |  |  | 55 |  |  |  | 30 |  |  |  | 10,588 |
Ending Balance |  | $ | 1,723 |  |  | $ | 3,774 |  |  | $ | 16 |  |  | $ | 643 |  |  | $ | 401 |  |  | $ | 128 |  |  | $ | 30 |  |  | $ | 6,715 |
Ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
individually evaluated for impairment |  | $ | 684 |  |  | $ | 1,157 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  |  |  |  |  |  |  |  |  | $ | 1,841 |
Ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
individually evaluated for impairment |  | $ | 1,039 |  |  | $ | 2,617 |  |  | $ | 16 |  |  | $ | 643 |  |  | $ | 401 |  |  | $ | 128 |  |  | $ | 30 |  |  | $ | 4,874 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
individually evaluated for impairment |  | $ | 3,121 |  |  | $ | 3,774 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  |  |  |  |  |  |  |  |  | $ | 6,895 |
Ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
individually evaluated for impairment |  | $ | 69,368 |  |  | $ | 174,116 |  |  | $ | 40,762 |  |  | $ | 84,775 |  |  | $ | 51,710 |  |  | $ | 194 |  |  | $ | - |  |  | $ | 420,925 |
Credit Risk Profile The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes loans with an outstanding balance greater than $100 thousand and non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed on a quarterly basis. The Company uses the following definitions for risk ratings: Special Mention: Assets have potential weaknesses that deserve managements close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. Ordinarily, special mention credits have characteristics which corrective management action would remedy. Substandard: Loans are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardized the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of current known facts, conditions and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. The following tables present the credit risk profile of the Company’s loan portfolio based on rating category as of December 31, 2011 and 2010 (dollars in thousands).
Dec. 31, 2011 |  | Commercial |  |  | Comm. RE |  |  | Agricultural |  |  | Residential |  |  | Home Equity |  |  |  |  |  |  |
Loan Grade |  | & Industrial |  |  | & Construction |  |  | & Farmland |  |  | Real Estate |  |  | & Consumer |  |  | Other |  |  | Total |
1-2 |  | $ | 909 |  |  | $ | 188 |  |  | $ | 152 |  |  | $ | 1,548 |  |  | $ | 127 |  |  | $ | 140 |  |  | $ | 3,064 |
3 |  |  | 24,375 |  |  |  | 62,506 |  |  |  | 13,203 |  |  |  | 78,122 |  |  |  | 43,814 |  |  |  | - |  |  |  | 222,020 |
4 |  |  | 48,004 |  |  |  | 110,633 |  |  |  | 24,950 |  |  |  | 1,576 |  |  |  | 6,095 |  |  |  | 76 |  |  |  | 191,334 |
Total Pass |  |  | 73,288 |  |  |  | 173,327 |  |  |  | 38,305 |  |  |  | 81,246 |  |  |  | 50,036 |  |  |  | 216 |  |  |  | 416,418 |
Special Mention |  |  | 610 |  |  |  | 9,703 |  |  |  | 5 |  |  |  | 1,666 |  |  |  | 72 |  |  |  | - |  |  |  | 12,056 |
Substandard |  |  | 2,037 |  |  |  | 3,358 |  |  |  | 51 |  |  |  | 1,834 |  |  |  | 92 |  |  |  | - |  |  |  | 7,372 |
Doubtful |  |  | 2,177 |  |  |  | 1,441 |  |  |  | - |  |  |  | 2,910 |  |  |  | 481 |  |  |  | - |  |  |  | 7,009 |
Loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 78,112 |  |  | $ | 187,829 |  |  | $ | 38,361 |  |  | $ | 87,656 |  |  | $ | 50,681 |  |  | $ | 216 |  |  | $ | 442,855 |
Dec. 31, 2010 |  | Commercial |  |  | Commercial |  |  | Agricultural |  |  | Residential |  |  | Home Equity |  |  |  |  |  |  |
Loan Grade |  | & Industrial |  |  | Real Estate |  |  | & Farmland |  |  | Real Estate |  |  | & Consumer |  |  | Other |  |  | Total |
1-2 |  | $ | 903 |  |  | $ | 735 |  |  | $ | 180 |  |  | $ | 3,861 |  |  | $ | 444 |  |  | $ | 127 |  |  | $ | 6,250 |
3 |  |  | 25,101 |  |  |  | 63,789 |  |  |  | 15,883 |  |  |  | 68,979 |  |  |  | 47,650 |  |  |  | - |  |  |  | 221,402 |
4 |  |  | 40,159 |  |  |  | 97,307 |  |  |  | 24,204 |  |  |  | 5,535 |  |  |  | 2,589 |  |  |  | 67 |  |  |  | 169,861 |
Total Pass |  |  | 66,163 |  |  |  | 161,831 |  |  |  | 40,267 |  |  |  | 78,375 |  |  |  | 50,683 |  |  |  | 194 |  |  |  | 397,513 |
Special Mention |  |  | 1,021 |  |  |  | 7,141 |  |  |  | 6 |  |  |  | 2,465 |  |  |  | 217 |  |  |  | - |  |  |  | 10,850 |
Substandard |  |  | 2,739 |  |  |  | 3,176 |  |  |  | 489 |  |  |  | 2,605 |  |  |  | 450 |  |  |  | - |  |  |  | 9,459 |
Doubtful |  |  | 2,566 |  |  |  | 5,742 |  |  |  | - |  |  |  | 1,330 |  |  |  | 360 |  |  |  | - |  |  |  | 9,998 |
Loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 72,489 |  |  | $ | 177,890 |  |  | $ | 40,762 |  |  | $ | 84,775 |  |  | $ | 51,710 |  |  | $ | 194 |  |  | $ | 427,820 |
The following tables present the Company’s loan portfolio aging analysis as of December 21, 2011 and December 31, 2010 (dollars in thousands).
|  | 30-59 Days |  |  | 60-89 Days |  |  | Greater Than |  |  | Total Past |  |  |  |  |  | Total Loans |
December 31, 2011 |  | Past Due |  |  | Past Due |  |  | 90 Days |  |  | Due |  |  | Current |  |  | Receivable |
Commercial & Industrial |  | $ | 58 |  |  | $ | - |  |  | $ | 2,334 |  |  | $ | 2,392 |  |  | $ | 75,720 |  |  | $ | 78,112 |
Commercial RE |  |  | 67 |  |  |  | - |  |  |  | 1,656 |  |  |  | 1,723 |  |  |  | 186,106 |  |  |  | 187,829 |
Agricultural & Farmland |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 38,361 |  |  |  | 38,361 |
Residential Real Estate |  |  | 412 |  |  |  | 784 |  |  |  | 569 |  |  |  | 1,765 |  |  |  | 85,891 |  |  |  | 87,656 |
Home Equity & Consumer |  |  | 465 |  |  |  | 194 |  |  |  | 505 |  |  |  | 1,164 |  |  |  | 49,517 |  |  |  | 50,681 |
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 216 |  |  |  | 216 |
Loans |  |  | 1,002 |  |  |  | 978 |  |  |  | 5,064 |  |  |  | 7,044 |  |  |  | 435,811 |  |  |  | 442,855 |
Loans held for Sale |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 5,238 |  |  |  | 5,238 |
Total |  | $ | 1,002 |  |  | $ | 978 |  |  | $ | 5,064 |  |  | $ | 7,044 |  |  | $ | 441,049 |  |  | $ | 448,093 |
|  | 30-59 Days |  |  | 60-89 Days |  |  | Greater Than |  |  | Total Past |  |  |  |  |  | Total Loans |
December 31, 2010 |  | Past Due |  |  | Past Due |  |  | 90 Days |  |  | Due |  |  | Current |  |  | Receivable |
Commercial & Industrial |  | $ | 242 |  |  | $ | 73 |  |  | $ | 2,744 |  |  | $ | 3,059 |  |  | $ | 69,430 |  |  | $ | 72,489 |
Commercial RE |  |  | 148 |  |  |  | 10 |  |  |  | 5,617 |  |  |  | 5,775 |  |  |  | 172,115 |  |  |  | 177,890 |
Agricultural & Farmland |  |  | - |  |  |  | 88 |  |  |  | - |  |  |  | 88 |  |  |  | 40,674 |  |  |  | 40,762 |
Residential Real Estate |  |  | 427 |  |  |  | 372 |  |  |  | 1,584 |  |  |  | 2,383 |  |  |  | 82,392 |  |  |  | 84,775 |
Home Equity & Consumer |  |  | 255 |  |  |  | 25 |  |  |  | 547 |  |  |  | 827 |  |  |  | 50,883 |  |  |  | 51,710 |
Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 194 |  |  |  | 194 |
Loans |  |  | 1,072 |  |  |  | 568 |  |  |  | 10,492 |  |  |  | 12,132 |  |  |  | 415,688 |  |  |  | 427,820 |
Loans held for Sale |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9,055 |  |  |  | 9,055 |
Total |  | $ | 1,072 |  |  | $ | 568 |  |  | $ | 10,492 |  |  | $ | 12,132 |  |  | $ | 424,743 |  |  | $ | 436,875 |
All loans past due 90 days are systematically placed on nonaccrual status. The following tables present impaired loan activity for the twelve months ended December 31, 2011 and 2010.
Twelve Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2011 |  |  |  |  | Unpaid |  |  |  |  |  | Average |  |  | Interest |
($'s in thousands) |  | Recorded |  |  | Principal |  |  | Related |  |  | Recorded |  |  | Income |
|  | Investment |  |  | Balance |  |  | Allowance |  |  | Investment |  |  | Recognized |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial |  | $ | 1,206 |  |  | $ | 1,856 |  |  | $ | - |  |  | $ | 1,737 |  |  | $ | 89 |
Commercial RE & Construction |  |  | 1,061 |  |  |  | 2,149 |  |  |  | - |  |  |  | 2,264 |  |  |  | 4 |
Agricultural & Farmland |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | 581 |  |  |  | 581 |  |  |  | - |  |  |  | 678 |  |  |  | 42 |
Home Equity & Consumer |  |  | 189 |  |  |  | 217 |  |  |  | - |  |  |  | 191 |  |  |  | 2 |
All Impaired Loans < $100,000 |  |  | 1,065 |  |  |  | 1,065 |  |  |  | - |  |  |  | 1,065 |  |  |  | - |
With a specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial |  |  | 2,077 |  |  |  | 3,787 |  |  |  | 1,017 |  |  |  | 2,528 |  |  |  | - |
Commercial RE & Construction |  |  | 1,412 |  |  |  | 2,827 |  |  |  | 19 |  |  |  | 2,029 |  |  |  | 21 |
Agricultural & Farmland |  |  | 5 |  |  |  | 5 |  |  |  | 5 |  |  |  | 5 |  |  |  | 1 |
Residential Real Estate |  |  | 1,493 |  |  |  | 1,596 |  |  |  | 280 |  |  |  | 1,655 |  |  |  | 66 |
Home Equity & Consumer |  |  | 354 |  |  |  | 354 |  |  |  | 212 |  |  |  | 365 |  |  |  | 8 |
All Impaired Loans < $100,000 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Totals: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial |  | $ | 3,283 |  |  | $ | 5,643 |  |  | $ | 1,017 |  |  | $ | 4,265 |  |  | $ | 89 |
Commercial RE & Construction |  | $ | 2,473 |  |  | $ | 4,976 |  |  | $ | 19 |  |  | $ | 4,293 |  |  | $ | 25 |
Agricultural & Farmland |  | $ | 5 |  |  | $ | 5 |  |  | $ | 5 |  |  | $ | 5 |  |  | $ | 1 |
Residential Real Estate |  | $ | 2,074 |  |  | $ | 2,177 |  |  | $ | 280 |  |  | $ | 2,333 |  |  | $ | 108 |
Home Equity & Consumer |  | $ | 543 |  |  | $ | 571 |  |  | $ | 212 |  |  | $ | 556 |  |  | $ | 10 |
All Impaired Loans < $100,000 |  |  | 1,065 |  |  |  | 1,065 |  |  |  | - |  |  |  | 1,065 |  |  |  | - |
Twelve Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2010 |  |  |  |  | Unpaid |  |  |  |  |  | Average |  |  | Interest |
($'s in thousands) |  | Recorded |  |  | Principal |  |  | Related |  |  | Recorded |  |  | Income |
|  | Investment |  |  | Balance |  |  | Allowance |  |  | Investment |  |  | Recognized |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial |  | $ | 436 |  |  | $ | 786 |  |  | $ | - |  |  | $ | 2,075 |  |  | $ | 4 |
Commercial RE & Construction |  |  | 2,744 |  |  |  | 4,040 |  |  |  | - |  |  |  | 4,195 |  |  |  | 52 |
Agricultural & Farmland |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 10 |
Residential Real Estate |  |  | 616 |  |  |  | 741 |  |  |  | - |  |  |  | 1,045 |  |  |  | 2 |
Home Equity & Consumer |  |  | 43 |  |  |  | 43 |  |  |  | - |  |  |  | 72 |  |  |  | - |
All Impaired Loans < $100,000 |  |  | 1,062 |  |  |  | 1,062 |  |  |  | - |  |  |  | 1,062 |  |  |  | - |
With a specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial |  |  | 2,438 |  |  |  | 3,938 |  |  |  | 684 |  |  |  | 2,147 |  |  |  | (48 | )
Commercial RE & Construction |  |  | 3,202 |  |  |  | 3,202 |  |  |  | 1,187 |  |  |  | 3,147 |  |  |  | 44 |
Agricultural & Farmland |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Residential Real Estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Home Equity & Consumer |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
All Impaired Loans < $100,000 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Totals: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & Industrial |  | $ | 2,874 |  |  | $ | 4,724 |  |  | $ | 684 |  |  | $ | 4,222 |  |  | $ | (44 | )
Commercial RE & Construction |  | $ | 5,946 |  |  | $ | 7,242 |  |  | $ | 1,187 |  |  | $ | 7,342 |  |  | $ | 96 |
Agricultural & Farmland |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 10 |
Residential Real Estate |  | $ | 616 |  |  | $ | 741 |  |  | $ | - |  |  | $ | 1,045 |  |  | $ | 2 |
Home Equity & Consumer |  | $ | 43 |  |  | $ | 43 |  |  | $ | - |  |  | $ | 72 |  |  | $ | - |
All Impaired Loans < $100,000 |  | $ | 1,062 |  |  | $ | 1,062 |  |  | $ | - |  |  | $ | 1,062 |  |  | $ | - |
Impaired loans less than $100,000 are included in groups of homogenous loans. These loans are evaluated based on delinquency status. Interest income recognized on a cash basis does not materially differ from interest income recognized on an accrual basis. A loan is considered impaired, in accordance with the impairment accounting guidance (ASC 310-10-35-16), when based on current information and events, it is probable State Bank will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include non-performing commercial loans but also include loans modified in troubled debt restructurings where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. Troubled Debt Restructured (TDR) Loans TDR’s are modified loans where a concession was provided to a borrower experiencing financial difficulties. Loan modifications are considered TDR’s when the concessions provided are not available to the borrower through either normal channels or other sources. However, not all loan modifications are TDR’s. TDR Concession Types The Company’s standards relating to loan modifications consider, among other factors, minimum verified income requirements, cash flow analysis, and collateral valuations. Each potential loan modification is reviewed individually and the terms of the loan are modified to meet a borrower’s specific circumstances at a point in time. All loan modifications, including those classified as TDR’s, are reviewed and approved. The types of concessions provided to borrowers include:
| · | Interest rate reduction: A reduction of the stated interest rate to a nonmarket rate for the remaining original life of the debt. The Company also may grant interest rate concessions for a limited timeframe on a case by case basis.
| · | Amortization or maturity date change beyond what the collateral supports, including any of the following:
| (1) | Lengthens the amortization period of the amortized principal beyond market terms. This concession reduces the minimum monthly payment and increases the amount of the balloon payment at the end of the term of the loan. Principal is generally not forgiven.
| (2) | Reduces the amount of loan principal to be amortized. This concession also reduces the minimum monthly payment and increases the amount of the balloon payment at the end of the term of the loan. Principal is generally not forgiven.
| (3) | Extends the maturity date or dates of the debt beyond what the collateral supports. This concession generally applies to loans without a balloon payment at the end of the term of the loan. In addition, there may be instances where renewing loans potentially require non-market terms and would then be reclassified as TDRs.
| · | Other: A concession that is not categorized as one of the concessions described above. These concessions include, but are not limited to: principal forgiveness, collateral concessions, covenant concessions, and reduction of accrued interest. Principal forgiveness may result from any TDR modification of any concession type.
The table below presents the activity of TDR’s during the prior year.
|  | Twelve Months Ended December 31, 2011 |
|  |  |  |  | Pre-Modification |  |  | Post-Modification |
|  | Number of |  |  | Recorded |  |  | Recorded |
|  | Contracts |  |  | Investment |  |  | Investment |
Residential Real Estate |  |  | 14 |  |  | $ | 1,011 |  |  | $ | 1,011 |
Of the troubled debt restructurings entered into during 2011, none had subsequently defaulted as of December 31, 2011. Redefaults are defined as loans that were performing troubled debt restructurings that became 90 days or more past due post restructuring. The Company has specifically allocated $1.2 million of the $6.5 million in loan loss allowance to all troubled debt restructured loans. All troubled debt restructures resulted from a reduction to a borrowers rate. No principal reductions have been granted.

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