Loans and Allowance for Loan Losses

3 Months Ended

Mar. 31, 2013

Loans and Allowance For Loan Losses [Abstract]

NOTE D – LOANS AND ALLOWANCE FOR LOAN LOSSES

Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or payoffs, are reported at their outstanding principal balances adjusted for any charge-offs, the allowance for loan losses, any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Interest income is reported on the interest method and includes amortization of net deferred loan fees and costs over the loan term. Generally, all loan classes are placed on non-accrual status not later than 90 days past due, unless the loan is well-secured and in the process of collection. All interest accrued, but not collected for loans that are placed on non-accrual or charged-off, is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the non-collectability of a loan balance is probable. Subsequent recoveries, if any, are credited to the allowance.

The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as new information becomes available.

The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonclassified loans and is based on historical charge-off experience and expected loss given default derived from the Company’s internal risk rating process. Other adjustments may be made to the allowance for pools of loans after an assessment of internal or external influences on credit quality that are not fully reflected on the historical loss or risk rating data.

A loan is considered impaired when, based on current information and events, it is probable that State Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration each of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial, agricultural, and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of the collateral if the loan is collateral dependent.

When State Bank moves a loan to non-accrual status, total unpaid interest accrued to date is reversed from income. Subsequent payments are applied to the outstanding principal balance with the interest portion of the payment recorded on the balance sheet as a contra-loan. Interest received on impaired loans may be realized once all contractual principal amounts are received or when a borrower establishes a history of six consecutive timely principal and interest payments. It is at the discretion of management to determine when a loan is placed back on accrual status upon receipt of six consecutive timely payments.

Large groups of smaller balance homogenous loans are collectively evaluated for impairment. Accordingly, State Bank does not separately identify individual consumer and residential loans for impairment measurements, unless such loans are the subject of a restructuring agreement due to financial difficulties of the borrower.

Categories of loans at March 31, 2013 and December 31, 2012 include:

($ in thousands)	Total Loans						Non-Accrual Loans				Non-Accrual Percentage
	Mar. 2013			Dec. 2012			Mar. 2013		Dec. 2012		Mar. 2013			Dec. 2012
Commercial	$	80,694		$	81,767			1,135		1,246		1.41	%		1.52	%
Commercial real estate		199,615			201,392			457		782		0.23	%		0.39	%
Agricultural		37,950			42,276			-		-		0.00	%		0.00	%
Residential real estate		89,669			87,859			2,614		2,631		2.92	%		2.99	%
Consumer		47,640			50,223			605		646		1.27	%		1.29	%
Leasing		138			148			-		-		0.00	%		0.00	%
Total loans		455,706			463,665		$	4,811	$	5,305		1.06	%		1.14	%
Less
Net deferred loan fees, premiums and discounts		(263	)		(276	)
Loans, net of unearned income	$	455,443		$	463,389
Allowance for loan losses	$	(6,992	)	$	(6,811	)

The following tables present the activity in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of March 31, 2013, December 31, 2012 and March 31, 2012.

For the Period Ended				Commercial
March 31, 2013	Commercial			RE &			Agricultural			Residential		Home Equity
($'s in thousands)	& Industrial			Construction			& Farmland			Real Estate		& Consumer			Other		Unallocated		Total

Allowance for loan losses:

Beginning balance	$	1,561		$	3,034		$	186		$	1,088	$	839		$	103	$	-	$	6,811
Charge Offs		-			(5	)		-			-		(131	)		-		-		(136	)
Recoveries		3			13			1			-		1			-		-		18
Provision		(84	)		224			(8	)		22		136		$	9		-		299
Ending Balance	$	1,480		$	3,266		$	179		$	1,110	$	845		$	112	$	-	$	6,992

Ending balance:
individually
evaluated for
impairment	$	397		$	52		$	-		$	367	$	203						$	1,019
Ending balance:
collectively
evaluated for
impairment	$	1,083		$	3,214		$	179		$	743	$	642		$	112	$	-	$	5,973
Loans:
Ending balance:
individually
evaluated for
impairment	$	1,121		$	395		$	-		$	2,585	$	636						$	4,737
Ending balance:
collectively
evaluated for
impairment	$	79,573		$	199,220		$	37,950		$	87,084	$	47,004		$	138	$	-	$	450,969

For the Year Ended			Commercial
December 31, 2012	Commercial		RE &		Agricultural		Residential		Home Equity
($'s in thousands)	& Industrial		Construction		& Farmland		Real Estate		& Consumer		Other		Unallocated			Total

Ending balance:
individually
evaluated for
impairment	$	485	$	55	$	-	$	386	$	195						$	1,121
Ending balance:
collectively
evaluated for
impairment	$	1,076	$	2,979	$	186	$	702	$	644	$	103	$	(1	)	$	5,690
Loans:
Ending balance:
individually
evaluated for
impairment	$	1,232	$	725	$	-	$	2,683	$	682						$	5,322
Ending balance:
collectively
evaluated for
impairment	$	80,535	$	200,667	$	42,276	$	85,176	$	49,541	$	148	$	-		$	458,343

For the Period Ended				Commercial
March 31, 2012	Commercial			RE &			Agricultural		Residential			Home Equity
($'s in thousands)	& Industrial			Construction			& Farmland		Real Estate			& Consumer			Other			Unallocated			Total

ALLOWANCE FOR LOAN AND LEASE LOSSES

Beginning balance	$	1,914		$	2,880		$	51	$	956		$	599		$	139		$	(10	)	$	6,529
Charge Offs		(205	)		(42	)		-		(51	)		(160	)		(16	)		-			(474	)
Recoveries		2			23			1		71			2			3			2			104
Provision		144			52			-		24			212			9			9			450
Ending Balance	$	1,855		$	2,913		$	52	$	1,000		$	653		$	135		$	1		$	6,609

The risk characteristics of each loan portfolio segment are as follows:

Commercial and Agricultural

Commercial and agricultural loans are primarily based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets, such as accounts receivable or inventory, and may include a personal guarantee. Short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers.

Commercial Real Estate including Construction

Commercial real estate loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. The characteristics of properties securing the Company’s commercial real estate portfolio are diverse, but with geographic location almost entirely in the Company’s market area. Management monitors and evaluates commercial real estate loans based on collateral, geography and risk grade criteria. In general, the Company avoids financing single purpose projects unless other underwriting factors are present to help mitigate risk. In addition, management tracks the level of owner-occupied commercial real estate versus non-owner-occupied loans.

Construction loans are underwritten utilizing feasibility studies, independent appraisal reviews and financial analysis of the developers and property owners. Construction loans are generally based on estimates of costs and value associated with the completed project. These estimates may be inaccurate. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing.

Residential and Consumer

Residential and consumer loans consist of two segments – residential mortgage loans and personal loans. Residential mortgage loans are secured by 1-4 family residences and are generally owner-occupied, and the Company generally establishes a maximum loan-to-value ratio and requires private mortgage insurance if that ratio is exceeded. Home equity loans are typically secured by a subordinate interest in 1-4 family residences, and consumer personal loans are secured by consumer personal assets, such as automobiles or recreational vehicles. Some consumer personal loans are unsecured, such as small installment loans and certain lines of credit. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas, such as unemployment levels. Repayment can also be impacted by changes in property values on residential properties. Risk is mitigated by the fact that these loans are of smaller individual amounts and spread over a large number of borrowers.

The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of March 31, 2013 and December 31, 2012.

Mar. 31, 2013	Commercial		Comm. RE		Agricultural		Residential		Home Equity
Loan Grade	& Industrial		& Construction		& Farmland		Real Estate		& Consumer		Other		Total
($ in thousands)
1-2	$	764	$	96	$	106	$	-	$	2	$	-	$	968
3		26,077		51,425		6,830		78,972		42,830		17		206,151
4		51,385		131,228		30,980		6,196		3,930		121		223,840
Total Pass		78,226		182,749		37,916		85,168		46,762		138		430,959

Special Mention		94		13,318		-		1,424		144		-		14,980
Substandard		1,351		3,089		34		463		205		-		5,142
Doubtful		1,023		459		-		2,614		529		-		4,625
Loss		-		-		-		-		-		-		-
Total	$	80,694	$	199,615	$	37,950	$	89,669	$	47,640	$	138	$	455,706

Dec. 31, 2012	Commercial		Comm. RE		Agricultural		Residential		Home Equity
Loan Grade	& Industrial		& Construction		& Farmland		Real Estate		& Consumer		Other		Total
($ in thousands)
1-2	$	1,108	$	101	$	109	$	-	$	-	$	-	$	1,318
3		23,028		55,175		7,938		77,221		45,063		17		208,442
4		54,871		129,846		34,195		6,285		4,223		131		229,551
Total Pass		79,007		185,122		42,242		83,506		49,286		148		439,311

Special Mention		88		12,370		-		1,186		190		-		13,834
Substandard		1,429		3,024		34		699		144		-		5,330
Doubtful		1,243		876		-		2,468		603		-		5,190
Loss		-		-		-		-		-		-		-
Total	$	81,767	$	201,392	$	42,276	$	87,859	$	50,223	$	148	$	463,665

The Company evaluates the loan risk grading system definitions and allowance for loan loss methodology on an ongoing basis.

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 (5): Assets have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date. Special mention assets are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. Ordinarily, special mention credits have characteristics which corrective management action would remedy.

Substandard (6): 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 jeopardize 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 (7): 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.

Loss (8): Loans are considered uncollectable and of such little value that continuing to carry them as assets on the Company’s financial statement is not feasible. Loans will be classified Loss when it is neither practical nor desirable to defer writing off or reserving all or a portion of a basically worthless asset, even though partial recovery may be possible at some time in the future.

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass (1-4) rated loans. Pass ratings are assigned to those borrowers that do not have identified potential or well-defined weaknesses and for which there is a high likelihood of orderly repayment. All other categories are updated on a quarterly basis.

The following tables present the Company’s loan portfolio aging analysis as of March 31, 2013 and December 31, 2012.

	30-59 Days		60-89 Days		Greater Than		Total Past				Total Loans
March 31, 2013	Past Due		Past Due		90 Days		Due		Current		Receivable
($ in thousands)

Commercial & Industrial	$	1	$	23	$	347	$	371	$	80,323	$	80,694
Commercial RE		66		67		264		397		199,218		199,615
Agricultural & Farmland		-		-		-		-		37,950		37,950
Residential Real Estate		173		-		1,384		1,557		88,112		89,669
Home Equity & Consumer		242		119		269		630		47,010		47,640
Other		-		-		-		-		138		138
Total Loans	$	482	$	209	$	2,264	$	2,955	$	452,751	$	455,706

	30-59 Days		60-89 Days		Greater Than		Total Past				Total Loans
December 31, 2012	Past Due		Past Due		90 Days		Due		Current		Receivable
($ in thousands)

Commercial & Industrial	$	26	$	2	$	497	$	525	$	81,242	$	81,767
Commercial RE		1,623		320		264		2,207		199,185		201,392
Agricultural & Farmland		-		-		-		-		42,276		42,276
Residential Real Estate		90		139		1,467		1,696		86,163		87,859
Home Equity & Consumer		319		76		280		675		49,548		50,223
Other		-		-		-		-		148		148
Total Loans	$	2,058	$	537	$	2,508	$	5,103	$	458,562	$	463,665

All loans past due 90 days are systematically placed on nonaccrual status.

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 nonperforming 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, forebearance or other actions intended to maximize collection.

The following tables present impaired loan information as of and for the three months ended March 31, 2013 and 2012, and for the twelve months ended December 31, 2012:

Three Months Ended
March 31, 2013			Unpaid				Average		Interest
($'s in thousands)	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
With no related allowance recorded:
Commercial & Industrial	$	24	$	1,909	$	-	$	24	$	-
Commercial RE & Construction		202		202		-		202		-
Agricultural & Farmland		-		-		-		-		-
Residential Real Estate		1,039		1,093		-		1,164		13
Home Equity & Consumer		176		176		-		182		2
All Impaired Loans < $100,000		1,172		1,172		-		1,172		-
With a specific allowance recorded:
Commercial & Industrial		1,097		1,097		397		1,097		-
Commercial RE & Construction		193		193		52		197		2
Agricultural & Farmland		-		-		-		-		-
Residential Real Estate		1,546		1,546		367		1,622		16
Home Equity & Consumer		460		460		203		478		8
All Impaired Loans < $100,000		-		-		-		-		-
Totals:
Commercial & Industrial	$	1,121	$	3,006	$	397	$	1,121	$	-
Commercial RE & Construction	$	395	$	395	$	52	$	399	$	2
Agricultural & Farmland	$	-	$	-	$	-	$	-	$	-
Residential Real Estate	$	2,585	$	2,639	$	367	$	2,786	$	29
Home Equity & Consumer	$	636	$	636	$	203	$	660	$	10
All Impaired Loans < $100,000	$	1,172	$	1,172	$	-	$	1,172	$	-

Twelve Months Ended
December 31, 2012			Unpaid
($'s in thousands)	Recorded		Principal		Related
	Investment		Balance		Allowance
With no related allowance recorded:
Commercial & Industrial	$	394	$	2,280	$	-
Commercial RE & Construction		527		1,529		-
Agricultural & Farmland		-		-		-
Residential Real Estate		1,122		1,204		-
Home Equity & Consumer		228		260		-
All Impaired Loans < $100,000		1,336		1,336		-
With a specific allowance recorded:
Commercial & Industrial		838		944		485
Commercial RE & Construction		198		198		55
Agricultural & Farmland		-		-		-
Residential Real Estate		1,561		1,561		386
Home Equity & Consumer		454		454		195
All Impaired Loans < $100,000		-		-		-
Totals:
Commercial & Industrial	$	1,232	$	3,224	$	485
Commercial RE & Construction	$	725	$	1,727	$	55
Agricultural & Farmland	$	-	$	-	$	-
Residential Real Estate	$	2,683	$	2,765	$	386
Home Equity & Consumer	$	682	$	714	$	195
All Impaired Loans < $100,000	$	1,336	$	1,336	$	-

Three Months Ended
March 31, 2012	Average		Interest
($'s in thousands)	Recorded		Income
	Investment		Recognized
With no related allowance recorded:
Commercial	$	127	$	-
Commercial Real Estate		2,037		6
Agricultural		113		-
Residential		772		14
Home Equity Consumer & Other		315		4
All Impaired Loans < $100,000		1,157		-
With a specific allowance recorded:
Commercial		1,896		-
Commercial Real Estate		1,145		-
Agricultural		113		-
Residential		1,768		21
Home Equity Consumer & Other		251		2
All Impaired Loans < $100,000		-		-
Totals:
Commercial	$	2,023	$	-
Commercial Real Estate	$	3,182	$	6
Agricultural	$	226	$	-
Residential	$	2,540	$	35
Home Equity Consumer & Other	$	566	$	6
All Impaired Loans < $100,000	$	1,157	$	-

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.

Troubled Debt Restructured (TDR) Loans

TDRs are modified loans where a concession was provided to a borrower experiencing financial difficulties. Loan modifications are considered TDRs when the concessions provided are not available to the borrower through either normal channels or other sources. However, not all loan modifications are TDRs.

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 TDRs, 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 TDRs during the three months ended March 31, 2013, and March 31, 2012.

	March 31, 2013
			Pre-Modification		Post-Modification
	Number of		Recorded		Recorded
($ in thousands)	Contracts		Investment		Investment

Residential Real Estate		1	$	14	$	14
Consumer		1		13		13
Commercial Real Estate		-		-		-

Total		2	$	27	$	27

The loans described above increased the ALLL by $13,000 in the three month period ending March 31, 2013.

	March 31, 2012
			Pre-Modification		Post-Modification
	Number of		Recorded		Recorded
($ in thousands)	Contracts		Investment		Investment

Residential Real Estate		4	$	116	$	116
Consumer		-		-		-
Commercial Real Estate		-		-		-

Total		4	$	116	$	116

The loans described above increased the ALLL by $18,000 in the three month period ending March 31, 2012.

Of the TDRs entered into during the last twelve months, two had subsequently defaulted as of March 31, 2013. The total balance of these redefaults was $0.19 million. Redefaults are defined as loans that were performing TDRs that became 90 days or more past due post restructuring. All TDRs resulted from a reduction to a borrower’s rate or change in amortization. No principal reductions have been granted.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3, 4

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5074-111524

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5162-111524

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3,4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph k

-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 01-6

-Paragraph 13

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5066-111524

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 7

-Article 9

+ Details