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LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Tables) | 9 Months Ended
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Sep. 30, 2019
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES |
Schedule of major categories of loans |
|  | September 30, |  | December 31, |
|  | 2019 |  | 2018 |
(dollars in thousands) |  | Amount |  | % |  | Amount |  | % |
Consumer |  | $ | 12,369 |  | 4 |  | $ | 13,071 |  | 4 |
Residential real estate |  |  | 80,211 |  | 28 |  |  | 82,637 |  | 28 |
Indirect |  |  | 106,088 |  | 38 |  |  | 116,698 |  | 39 |
Commercial |  |  | 11,350 |  | 4 |  |  | 14,284 |  | 5 |
Construction |  |  | 3,161 |  | 1 |  |  | 2,317 |  | 1 |
Commercial real estate |  |  | 70,710 |  | 25 |  |  | 70,113 |  | 23 |
Loans, net of deferred fees and costs |  |  | 283,889 |  | 100 |  |  | 299,120 |  | 100 |
Less: Allowance for loan losses |  |  | (2,307) |  |  |  |  | (2,541) |  |  |
Loans, net |  | $ | 281,582 |  |  |  | $ | 296,579 |  |  |
Schedule of total allowance by loan segment |
September 30, 2019 |  |  |  | Residential |  |  |  |  |  |  |  |  | Commercial |  |  |
(dollars in thousands) |  | Consumer |  | Real Estate |  | Indirect |  | Commercial |  | Construction |  | Real Estate |  | Total
Balance, beginning of year |  | $ | 161 |  | $ | 864 |  | $ | 988 |  | $ | 241 |  | $ | 4 |  | $ | 283 |  | $ | 2,541
Charge-offs |  |  | (69) |  |  | (16) |  |  | (407) |  |  | (27) |  |  | — |  |  | — |  |  | (519)
Recoveries |  |  | 15 |  |  | 1 |  |  | 194 |  |  | 10 |  |  | — |  |  | — |  |  | 220
Provision for loan losses |  |  | 46 |  |  | (210) |  |  | 164 |  |  | 2 |  |  | 3 |  |  | 60 |  |  | 65
Balance, end of quarter |  | $ | 153 |  | $ | 639 |  | $ | 939 |  | $ | 226 |  | $ | 7 |  | $ | 343 |  | $ | 2,307
Individually evaluated for impairment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance in allowance |  | $ | 15 |  | $ | — |  | $ | — |  | $ | 195 |  | $ | — |  | $ | — |  | $ | 210
Related loan balance |  |  | 88 |  |  | 659 |  |  | — |  |  | 195 |  |  | — |  |  | 3,854 |  |  | 4,796
Collectively evaluated for impairment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance in allowance |  | $ | 138 |  | $ | 639 |  | $ | 939 |  | $ | 31 |  | $ | 7 |  | $ | 343 |  | $ | 2,097
Related loan balance |  |  | 12,281 |  |  | 79,552 |  |  | 106,088 |  |  | 11,155 |  |  | 3,161 |  |  | 66,856 |  |  | 279,093
December 31, 2018 |  |  |  | Residential |  |  |  |  |  |  |  |  | Commercial |  |  |
(dollars in thousands) |  | Consumer |  | Real Estate |  | Indirect |  | Commercial |  | Construction |  | Real Estate |  | Total
Balance, beginning of year |  | $ | 214 |  | $ | 1,061 |  | $ | 774 |  | $ | 237 |  | $ | 12 |  | $ | 291 |  | $ | 2,589
Charge-offs |  |  | (208) |  |  | (589) |  |  | (341) |  |  | — |  |  | — |  |  | (13) |  |  | (1,151)
Recoveries |  |  | 48 |  |  | 2 |  |  | 183 |  |  | 14 |  |  | — |  |  | — |  |  | 247
Provision for loan losses |  |  | 107 |  |  | 390 |  |  | 372 |  |  | (10) |  |  | (8) |  |  | 5 |  |  | 856
Balance, end of year |  | $ | 161 |  | $ | 864 |  | $ | 988 |  | $ | 241 |  | $ | 4 |  | $ | 283 |  | $ | 2,541
Individually evaluated for impairment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance in allowance |  | $ | 22 |  | $ | — |  | $ | — |  | $ | 204 |  | $ | — |  | $ | — |  | $ | 226
Related loan balance |  |  | 138 |  |  | 854 |  |  | — |  |  | 204 |  |  | — |  |  | 1,054 |  |  | 2,250
Collectively evaluated for impairment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance in allowance |  | $ | 139 |  | $ | 864 |  | $ | 988 |  | $ | 37 |  | $ | 4 |  | $ | 283 |  | $ | 2,315
Related loan balance |  |  | 12,933 |  |  | 81,783 |  |  | 116,698 |  |  | 14,080 |  |  | 2,317 |  |  | 69,059 |  |  | 296,870
Schedule of allowances for credit losses |
|  | September 30, |  | September 30,
(dollars in thousands) |  | 2019 |  | 2018
Average loans |  | $ | 293,958 |  |  | $ | 283,006 |
Net charge offs to average loans (annualized) |  |  | 0.14 | % |  |  | 0.35 | %
Schedule of reserve for unfunded commitments |
|  | Nine Months Ended
|  | Ended September 30,
(dollars in thousands) |  | 2019 |  | 2018
Beginning balance |  | $ | 35 |  | $ | 24
Reduction of unfunded reserve |  |  | (23) |  |  | (45)
Provisions charged to operations |  |  | 25 |  |  | 46
Ending balance |  | $ | 37 |  | $ | 25
Schedule of current, past due, and non-accrual loans by categories of loans and restructured loans |
At September 30, 2019 |  |  |  |  |  |  |  | 90 Days or |  |  |  |  |  |
(dollars in thousands) |  |  |  |  | 30-89 Days |  | More and |  |  |  |  |  |
|  | Current |  | Past Due |  | Still Accruing |  | Nonaccrual |  | Total
Consumer |  | $ | 12,171 |  | $ | 54 |  | $ | — |  | $ | 144 |  | $ | 12,369
Residential Real Estate |  |  | 79,370 |  |  | 63 |  |  | 22 |  |  | 756 |  |  | 80,211
Indirect |  |  | 105,517 |  |  | 535 |  |  | — |  |  | 36 |  |  | 106,088
Commercial |  |  | 11,350 |  |  | — |  |  | — |  |  | — |  |  | 11,350
Construction |  |  | 3,161 |  |  | — |  |  | — |  |  | — |  |  | 3,161
Commercial Real Estate |  |  | 67,417 |  |  | — |  |  | — |  |  | 3,293 |  |  | 70,710
|  | $ | 278,986 |  | $ | 652 |  | $ | 22 |  | $ | 4,229 |  | $ | 283,889
At December 31, 2018 |  |  |  |  |  |  |  | 90 Days or |  |  |  |  |  |
(dollars in thousands) |  |  |  |  | 30-89 Days |  | More and |  |  |  |  |  |
|  | Current |  | Past Due |  | Still Accruing |  | Nonaccrual |  | Total
Consumer |  | $ | 12,669 |  | $ | 216 |  | $ | — |  | $ | 186 |  | $ | 13,071
Residential Real Estate |  |  | 80,923 |  |  | 732 |  |  | 26 |  |  | 956 |  |  | 82,637
Indirect |  |  | 115,890 |  |  | 692 |  |  | — |  |  | 116 |  |  | 116,698
Commercial |  |  | 14,171 |  |  | 86 |  |  | — |  |  | 27 |  |  | 14,284
Construction |  |  | 2,317 |  |  | — |  |  | — |  |  | — |  |  | 2,317
Commercial Real Estate |  |  | 69,451 |  |  | — |  |  | — |  |  | 662 |  |  | 70,113
|  | $ | 295,421 |  | $ | 1,726 |  | $ | 26 |  | $ | 1,947 |  | $ | 299,120
Schedule of impaired financing receivables |
September 30, 2019 |  |  |  |  | Unpaid |  | Interest |  |  |  |  | Average
(dollars in thousands) |  | Recorded |  | Principal |  | Income |  | Specific |  | Recorded
|  | Investment |  | Balance |  | Recognized |  | Reserve |  | Investment
Impaired loans with specific reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | $ | 42 |  | $ | 42 |  | $ | 2 |  | $ | 15 |  | $ | 50
Commercial |  |  | 195 |  |  | 195 |  |  | 11 |  |  | 195 |  |  | 200
Total impaired loans with specific reserves |  |  | 237 |  |  | 237 |  |  | 13 |  |  | 210 |  |  | 250
Impaired loans with no specific reserve: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | $ | 102 |  | $ | 102 |  | $ | — |  | $ | n/a |  | $ | 50
Residential Real Estate |  |  | 757 |  |  | 1,526 |  |  | 8 |  |  | n/a |  |  | 1,829
Indirect |  |  | 35 |  |  | 35 |  |  | — |  |  | n/a |  |  | —
Commercial Real Estate |  |  | 3,854 |  |  | 3,854 |  |  | 67 |  |  | n/a |  |  | 4,006
Total impaired loans with no specific reserve |  | $ | 4,748 |  | $ | 5,517 |  | $ | 75 |  |  | — |  | $ | 5,885
December 31, 2018 |  |  |  |  | Unpaid |  | Interest |  |  |  |  | Average
(dollars in thousands) |  | Recorded |  | Principal |  | Income |  | Specific |  | Recorded
|  | Investment |  | Balance |  | Recognized |  | Reserve |  | Investment
Impaired loans with specific reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | $ | 89 |  | $ | 89 |  | $ | 3 |  | $ | 22 |  | $ | 136
Commercial |  |  | 204 |  |  | 204 |  |  | 12 |  |  | 204 |  |  | 211
Total impaired loans with specific reserves |  |  | 294 |  |  | 294 |  |  | 15 |  |  | 226 |  |  | 347
Impaired loans with no specific reserve: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | $ | 96 |  | $ | 300 |  | $ | 2 |  |  | n/a |  | $ | 50
Residential Real Estate |  |  | 956 |  |  | 1,545 |  |  | 4 |  |  | n/a |  |  | 1,981
Indirect |  |  | 116 |  |  | 457 |  |  | — |  |  | n/a |  |  | —
Commercial Real Estate |  |  | 1,267 |  |  | 1,267 |  |  | 39 |  |  | n/a |  |  | 1,148
Total impaired loans with no specific reserve |  | $ | 2,435 |  | $ | 3,569 |  | $ | 45 |  |  | — |  | $ | 3,179
Schedule of allowance for loan loss and the unearned income on loans |
|  | September 30, |  | December 31,
(dollars in thousands) |  | 2019 |  | 2018
Troubled debt restructured loans |  | $ | 237 |  |  | $ | 248 |
Non-accrual and 90+ days past due and still accruing loans to average loans |  |  | 1.51 | % |  |  | 0.76 | %
Allowance for loan losses to nonaccrual & 90+ days past due and still accruing loans |  |  | 54.3 | % |  |  | 128.7 | %
Schedule of non accrual loans |
|  |  |  | Residential |  |  |  |  |  |  |  | Commercial |  |
(dollars in thousands) |  | Consumer |  | Real Estate |  | Indirect |  | Commercial |  | Construction |  | Real Estate |  | Totals
December 31, 2017 |  | 185 |  | 2,124 |  | 88 |  | 48 |  | 318 |  | 507 |  | 3,270
Transfers into nonaccrual |  | 44 |  | 183 |  | 305 |  | — |  | — |  | 2,000 |  | 2,532
Loans paid down/payoffs |  | (15) |  | (41) |  | (51) |  | (48) |  | (8) |  | (136) |  | (299)
Loans returned to accrual status |  | — |  | — |  | (50) |  | — |  | — |  | — |  | (50)
Loans charged off |  | (92) |  | (513) |  | (163) |  | — |  | — |  | — |  | (768)
September 30, 2018 |  | 122 |  | 1,753 |  | 129 |  | — |  | 310 |  | 2,371 |  | 4,685
December 31, 2018 |  | 186 |  | 956 |  | 116 |  | 27 |  | — |  | 662 |  | 1,947
Transfers into nonaccrual |  | 135 |  | 572 |  | 467 |  | 86 |  | — |  | 2,746 |  | 4,006
Loans paid down/payoffs |  | (48) |  | (755) |  | (52) |  | (86) |  | — |  | (115) |  | (1,056)
Loans returned to accrual status |  | (88) |  | — |  | (105) |  | — |  | — |  | — |  | (193)
Loans charged off |  | (41) |  | (17) |  | (390) |  | (27) |  | — |  | — |  | (475)
September 30, 2019 |  | 144 |  | 756 |  | 36 |  | — |  | — |  | 3,293 |  | 4,229
Schedule of risk ratings of loans by categories of loans | The following tables provides information with respect to the Company's credit quality indicators by loan portfolio segment at September 30, 2019 and December 31, 2018:
September 30, 2019 |  |  |  | Residential |  |  |  |  |  |  |  | Commercial |  |  |
(dollars in thousands) |  | Consumer |  | Real Estate |  | Indirect |  | Commercial |  | Construction |  | Real Estate |  | Total
Pass |  | $ | 12,225 |  | $ | 79,453 |  | $ | 106,053 |  | $ | 11,155 |  | $ | 3,161 |  | $ | 66,856 |  | $ | 278,903
Special mention |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Substandard |  |  | 144 |  |  | 758 |  |  | 4 |  |  | 195 |  |  | — |  |  | 3,854 |  |  | 4,955
Doubtful |  |  | — |  |  | — |  |  | 31 |  |  | — |  |  | — |  |  | — |  |  | 31
Loss |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
|  | $ | 12,369 |  | $ | 80,211 |  | $ | 106,088 |  | $ | 11,350 |  | $ | 3,161 |  | $ | 70,710 |  | $ | 283,889
Nonaccrual |  | $ | 144 |  | $ | 756 |  | $ | 36 |  | $ | — |  | $ | — |  | $ | 3,293 |  | $ | 4,229
Troubled debt restructures |  | $ | 42 |  | $ | — |  | $ | — |  | $ | 195 |  | $ | — |  | $ | — |  | $ | 237
Number of TDRs accounts |  |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 2
Non-performing TDRs |  | $ | 42 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 42
Number of non-performing TDR accounts |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1
December 31, 2018 |  |  |  | Residential |  |  |  |  |  |  |  | Commercial |  |  |
(dollars in thousands) |  | Consumer |  | Real Estate |  | Indirect |  | Commercial |  | Construction |  | Real Estate |  | Total
Pass |  | $ | 12,888 |  | $ | 82,111 |  | $ | 115,724 |  | $ | 14,284 |  | $ | 2,317 |  | $ | 69,900 |  | $ | 297,224
Special mention |  |  | — |  |  | 424 |  |  | 645 |  |  | — |  |  | — |  |  | — |  |  | 1,069
Substandard |  |  | 183 |  |  | 102 |  |  | 244 |  |  | — |  |  | — |  |  | 213 |  |  | 742
Doubtful |  |  | — |  |  | — |  |  | 85 |  |  | — |  |  | — |  |  | — |  |  | 85
Loss |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
|  | $ | 13,071 |  | $ | 82,637 |  | $ | 116,698 |  | $ | 14,284 |  | $ | 2,317 |  | $ | 70,113 |  | $ | 299,120
Nonaccrual |  | $ | 186 |  | $ | 956 |  | $ | 116 |  | $ | 27 |  | $ | — |  | $ | 662 |  | $ | 1,947
Troubled debt restructures |  | $ | 44 |  | $ | — |  | $ | — |  | $ | 204 |  | $ | — |  | $ | — |  | $ | 248
Number of TDRs accounts |  |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 2
Non-performing TDRs |  | $ | 44 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 44
Number of non-performing TDR accounts |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953659-111524 + Details
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