|
LOANS (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
|
| LOANS [Abstract] |
|
| Portfolio Loans |
Portfolio loans were as follows (dollars in thousands):
| |
|
|
|
|
|
|
Commercial and industrial |
|
$ |
327,674 |
|
|
$ |
274,099 |
|
| |
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
Residential developed |
|
|
12,771 |
|
|
|
18,130 |
|
Unsecured to residential developers |
|
|
7,496 |
|
|
|
7,315 |
|
Vacant and unimproved |
|
|
50,372 |
|
|
|
42,988 |
|
Commercial development |
|
|
4,082 |
|
|
|
2,434 |
|
Residential improved |
|
|
69,612 |
|
|
|
76,294 |
|
Commercial improved |
|
|
269,757 |
|
|
|
247,195 |
|
Manufacturing and industrial |
|
|
76,441 |
|
|
|
77,984 |
|
Total commercial real estate |
|
|
490,531 |
|
|
|
472,340 |
|
| |
|
|
|
|
|
|
|
|
Consumer |
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
190,249 |
|
|
|
188,648 |
|
Unsecured |
|
|
948 |
|
|
|
1,337 |
|
Home equity |
|
|
98,887 |
|
|
|
95,961 |
|
Other secured |
|
|
10,194 |
|
|
|
9,992 |
|
Total consumer |
|
|
300,278 |
|
|
|
295,938 |
|
| |
|
|
|
|
|
|
|
|
Total loans |
|
|
1,118,483 |
|
|
|
1,042,377 |
|
Allowance for loan losses |
|
|
(18,962 |
) |
|
|
(20,798 |
) |
| |
|
$ |
1,099,521 |
|
|
$ |
1,021,579 |
|
|
| Activity in Allowance for Loan Losses by Portfolio Segment |
The following tables present the activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2014, 2013 and 2012 (dollars in thousands):
2014 |
|
|
|
|
|
|
|
Consumer |
|
|
Unallocated |
|
|
Total |
|
Beginning balance |
|
$ |
6,174 |
|
|
$ |
10,868 |
|
|
$ |
3,703 |
|
|
$ |
53 |
|
|
$ |
20,798 |
|
Charge-offs |
|
|
(43 |
) |
|
|
(134 |
) |
|
|
(499 |
) |
|
|
--- |
|
|
|
(676 |
) |
Recoveries |
|
|
522 |
|
|
|
1,481 |
|
|
|
187 |
|
|
|
--- |
|
|
|
2,190 |
|
Provision for loan losses |
|
|
(480 |
) |
|
|
(3,525 |
) |
|
|
655 |
|
|
|
--- |
|
|
|
(3,350 |
) |
Ending Balance |
|
$ |
6,173 |
|
|
$ |
8,690 |
|
|
$ |
4,046 |
|
|
$ |
53 |
|
|
$ |
18,962 |
|
2013 |
|
|
|
|
|
|
|
Consumer |
|
|
Unallocated |
|
|
Total |
|
Beginning balance |
|
$ |
6,459 |
|
|
$ |
13,457 |
|
|
$ |
3,787 |
|
|
$ |
36 |
|
|
$ |
23,739 |
|
Charge-offs |
|
|
(317 |
) |
|
|
(1,065 |
) |
|
|
(822 |
) |
|
|
--- |
|
|
|
(2,204 |
) |
Recoveries |
|
|
1,134 |
|
|
|
2,141 |
|
|
|
238 |
|
|
|
--- |
|
|
|
3,513 |
|
Provision for loan losses |
|
|
(1,102 |
) |
|
|
(3,665 |
) |
|
|
500 |
|
|
|
17 |
|
|
|
(4,250 |
) |
Ending Balance |
|
$ |
6,174 |
|
|
$ |
10,868 |
|
|
$ |
3,703 |
|
|
$ |
53 |
|
|
$ |
20,798 |
|
2012 |
|
|
|
|
|
|
|
Consumer |
|
|
Unallocated |
|
|
Total |
|
Beginning balance |
|
$ |
6,313 |
|
|
$ |
20,475 |
|
|
$ |
4,821 |
|
|
$ |
32 |
|
|
$ |
31,641 |
|
Charge-offs |
|
|
(1,245 |
) |
|
|
(3,206 |
) |
|
|
(3,045 |
) |
|
|
--- |
|
|
|
(7,496 |
) |
Recoveries |
|
|
547 |
|
|
|
5,840 |
|
|
|
307 |
|
|
|
--- |
|
|
|
6,694 |
|
Provision for loan losses |
|
|
844 |
|
|
|
(9,652 |
) |
|
|
1,704 |
|
|
|
4 |
|
|
|
(7,100 |
) |
Ending Balance |
|
$ |
6,459 |
|
|
$ |
13,457 |
|
|
$ |
3,787 |
|
|
$ |
36 |
|
|
$ |
23,739 |
|
|
| Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment Based on Impairment Method |
The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method (dollars in thousands):
December 31, 2014 |
|
Commercial
and
Industrial
|
|
|
Commercial Real Estate |
|
|
Consumer |
|
|
Unallocated |
|
|
Total |
|
Allowance for loan losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending allowance attributable to loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually reviewed for impairment |
|
$ |
2,429 |
|
|
$ |
743 |
|
|
$ |
893 |
|
|
$ |
--- |
|
|
$ |
4,065 |
|
Collectively evaluated for impairment |
|
|
3,744 |
|
|
|
7,947 |
|
|
|
3,153 |
|
|
|
53 |
|
|
|
14,897 |
|
Total ending allowance balance |
|
$ |
6,173 |
|
|
$ |
8,690 |
|
|
$ |
4,046 |
|
|
$ |
53 |
|
|
$ |
18,962 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually reviewed for impairment |
|
$ |
9,084 |
|
|
$ |
29,818 |
|
|
$ |
14,495 |
|
|
$ |
--- |
|
|
$ |
53,397 |
|
Collectively evaluated for impairment |
|
|
318,590 |
|
|
|
460,713 |
|
|
|
285,783 |
|
|
|
--- |
|
|
|
1,065,086 |
|
Total ending loans balance |
|
$ |
327,674 |
|
|
$ |
490,531 |
|
|
$ |
300,278 |
|
|
$ |
--- |
|
|
$ |
1,118,483 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2013 |
|
Commercial
and
Industrial
|
|
|
Commercial Real Estate |
|
|
Consumer |
|
|
Unallocated |
|
|
Total |
|
Allowance for loan losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending allowance attributable to loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually reviewed for impairment |
|
$ |
1,981 |
|
|
$ |
1,008 |
|
|
$ |
881 |
|
|
$ |
--- |
|
|
$ |
3,870 |
|
Collectively evaluated for impairment |
|
|
4,193 |
|
|
|
9,860 |
|
|
|
2,822 |
|
|
|
53 |
|
|
|
16,928 |
|
Total ending allowance balance |
|
$ |
6,174 |
|
|
$ |
10,868 |
|
|
$ |
3,703 |
|
|
$ |
53 |
|
|
$ |
20,798 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually reviewed for impairment |
|
$ |
13,155 |
|
|
$ |
41,285 |
|
|
$ |
14,483 |
|
|
$ |
--- |
|
|
$ |
68,923 |
|
Collectively evaluated for impairment |
|
|
260,944 |
|
|
|
431,055 |
|
|
|
281,455 |
|
|
|
--- |
|
|
|
973,454 |
|
Total ending loans balance |
|
$ |
274,099 |
|
|
$ |
472,340 |
|
|
$ |
295,938 |
|
|
$ |
--- |
|
|
$ |
1,042,377 |
|
|
| Loans Individually Evaluated for Impairment by Class of Loans |
The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2014 (dollars in thousands):
December 31, 2014 |
|
Unpaid Principal Balance |
|
|
Recorded Investment |
|
|
Allowance Allocated |
|
With no related allowance recorded: |
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
3,019 |
|
|
$ |
3,019 |
|
|
$ |
--- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
531 |
|
|
|
531 |
|
|
|
--- |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Commercial development |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Residential improved |
|
|
547 |
|
|
|
547 |
|
|
|
--- |
|
Commercial improved |
|
|
331 |
|
|
|
331 |
|
|
|
--- |
|
Manufacturing and industrial |
|
|
206 |
|
|
|
206 |
|
|
|
--- |
|
| |
|
|
1,615 |
|
|
|
1,615 |
|
|
|
--- |
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Unsecured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Home equity |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
| |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
| |
|
$ |
4,634 |
|
|
$ |
4,634 |
|
|
$ |
--- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
6,065 |
|
|
$ |
6,065 |
|
|
$ |
2,429 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
550 |
|
|
|
550 |
|
|
|
35 |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
1,499 |
|
|
|
1,499 |
|
|
|
43 |
|
Commercial development |
|
|
199 |
|
|
|
199 |
|
|
|
5 |
|
Residential improved |
|
|
7,323 |
|
|
|
7,323 |
|
|
|
240 |
|
Commercial improved |
|
|
16,113 |
|
|
|
16,113 |
|
|
|
389 |
|
Manufacturing and industrial |
|
|
2,519 |
|
|
|
2,519 |
|
|
|
31 |
|
| |
|
|
28,203 |
|
|
|
28,203 |
|
|
|
743 |
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
9,492 |
|
|
|
9,484 |
|
|
|
584 |
|
Unsecured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Home equity |
|
|
5,182 |
|
|
|
5,011 |
|
|
|
309 |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
| |
|
|
14,674 |
|
|
|
14,495 |
|
|
|
893 |
|
| |
|
$ |
48,942 |
|
|
$ |
48,763 |
|
|
$ |
4,065 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
53,576 |
|
|
$ |
53,397 |
|
|
$ |
4,065 |
|
The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2013 (dollars in thousands):
December 31, 2013 |
|
Unpaid Principal Balance |
|
|
Recorded Investment |
|
|
Allowance Allocated |
|
With no related allowance recorded: |
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
3,287 |
|
|
$ |
3,284 |
|
|
$ |
--- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
5,273 |
|
|
|
4,340 |
|
|
|
--- |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
3 |
|
|
|
3 |
|
|
|
--- |
|
Commercial development |
|
|
362 |
|
|
|
362 |
|
|
|
--- |
|
Residential improved |
|
|
1,493 |
|
|
|
1,493 |
|
|
|
--- |
|
Commercial improved |
|
|
2,797 |
|
|
|
2,272 |
|
|
|
--- |
|
Manufacturing and industrial |
|
|
252 |
|
|
|
252 |
|
|
|
--- |
|
| |
|
|
10,180 |
|
|
|
8,722 |
|
|
|
--- |
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Unsecured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Home equity |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
| |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
| |
|
$ |
13,467 |
|
|
$ |
12,006 |
|
|
$ |
--- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
9,871 |
|
|
$ |
9,871 |
|
|
$ |
1,981 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
618 |
|
|
|
618 |
|
|
|
33 |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
1,900 |
|
|
|
1,900 |
|
|
|
47 |
|
Commercial development |
|
|
207 |
|
|
|
207 |
|
|
|
5 |
|
Residential improved |
|
|
9,534 |
|
|
|
9,534 |
|
|
|
342 |
|
Commercial improved |
|
|
14,450 |
|
|
|
14,450 |
|
|
|
479 |
|
Manufacturing and industrial |
|
|
5,854 |
|
|
|
5,854 |
|
|
|
102 |
|
| |
|
|
32,563 |
|
|
|
32,563 |
|
|
|
1,008 |
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
9,454 |
|
|
|
9,454 |
|
|
|
575 |
|
Unsecured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Home equity |
|
|
5,029 |
|
|
|
5,029 |
|
|
|
306 |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
| |
|
|
14,483 |
|
|
|
14,483 |
|
|
|
881 |
|
| |
|
$ |
56,917 |
|
|
$ |
56,917 |
|
|
$ |
3,870 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
70,384 |
|
|
$ |
68,923 |
|
|
$ |
3,870 |
|
|
| Average Balances of Impaired Loans and Interest Recognized on Impaired Loans |
The following table presents information regarding average balances of impaired loans and interest recognized on impaired loans for the years ended December 31, 2014, 2013 and 2012 (dollars in thousands):
| |
|
2014 |
|
|
2013 |
|
|
2012 |
|
Average of impaired loans during the period: |
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
11,818 |
|
|
$ |
14,333 |
|
|
$ |
14,928 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
3,628 |
|
|
|
6,357 |
|
|
|
8,162 |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
1,646 |
|
|
|
2,804 |
|
|
|
3,851 |
|
Commercial development |
|
|
451 |
|
|
|
398 |
|
|
|
216 |
|
Residential improved |
|
|
9,309 |
|
|
|
11,549 |
|
|
|
13,192 |
|
Commercial improved |
|
|
17,853 |
|
|
|
20,191 |
|
|
|
17,975 |
|
Manufacturing and industrial |
|
|
5,630 |
|
|
|
6,305 |
|
|
|
9,125 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Consumer |
|
|
14,476 |
|
|
|
14,532 |
|
|
|
15,857 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Interest income recognized during impairment: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
1,108 |
|
|
|
1,278 |
|
|
|
1,291 |
|
Commercial real estate |
|
|
1,527 |
|
|
|
1,974 |
|
|
|
2,736 |
|
Consumer |
|
|
541 |
|
|
|
537 |
|
|
|
538 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Cash-basis interest income recognized |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
1,107 |
|
|
|
1,273 |
|
|
|
1,295 |
|
Commercial real estate |
|
|
1,547 |
|
|
|
1,971 |
|
|
|
2,740 |
|
Consumer |
|
|
541 |
|
|
|
532 |
|
|
|
550 |
|
|
| Recorded Investment in Nonaccrual and Loans Past Due Over 90 Days Still on Accrual by Class of Loans |
The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of December 31, 2014 and 2013:
December 31, 2014 |
|
Nonaccrual |
|
|
Over 90
days
Accruing
|
|
| |
|
|
|
|
|
|
Commercial and industrial |
|
$ |
5,605 |
|
|
$ |
--- |
|
| |
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
Residential developed |
|
|
245 |
|
|
|
--- |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
--- |
|
|
|
--- |
|
Commercial development |
|
|
29 |
|
|
|
--- |
|
Residential improved |
|
|
766 |
|
|
|
--- |
|
Commercial improved |
|
|
866 |
|
|
|
117 |
|
Manufacturing and industrial |
|
|
--- |
|
|
|
--- |
|
| |
|
|
1,906 |
|
|
|
117 |
|
Consumer: |
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
305 |
|
|
|
--- |
|
Unsecured |
|
|
40 |
|
|
|
--- |
|
Home equity |
|
|
436 |
|
|
|
17 |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
| |
|
|
781 |
|
|
|
17 |
|
Total |
|
$ |
8,292 |
|
|
$ |
134 |
|
December 31, 2013 |
|
Nonaccrual |
|
|
Over 90
days
Accruing
|
|
| |
|
|
|
|
|
|
Commercial and industrial |
|
$ |
5,625 |
|
|
$ |
--- |
|
| |
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
Residential developed |
|
|
2,590 |
|
|
|
153 |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
--- |
|
|
|
--- |
|
Commercial development |
|
|
23 |
|
|
|
--- |
|
Residential improved |
|
|
429 |
|
|
|
--- |
|
Commercial improved |
|
|
2,511 |
|
|
|
--- |
|
Manufacturing and industrial |
|
|
--- |
|
|
|
--- |
|
| |
|
|
5,553 |
|
|
|
153 |
|
Consumer: |
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
639 |
|
|
|
--- |
|
Unsecured |
|
|
33 |
|
|
|
--- |
|
Home equity |
|
|
332 |
|
|
|
--- |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
| |
|
|
1,004 |
|
|
|
--- |
|
Total |
|
$ |
12,182 |
|
|
$ |
153 |
|
|
| Aging of Recorded Investment in Past Due Loans by Class of Loans |
The following table presents the aging of the recorded investment in past due loans as of December 31, 2014 by class of loans (dollars in thousands):
December 31, 2014 |
|
30-90
Days
|
|
|
Greater Than
90 Days
|
|
|
Total
Past Due
|
|
|
Loans Not
Past Due
|
|
|
Total |
|
Commercial and industrial |
|
$ |
54 |
|
|
$ |
--- |
|
|
$ |
54 |
|
|
$ |
327,620 |
|
|
$ |
327,674 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
12,771 |
|
|
|
12,771 |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
7,496 |
|
|
|
7,496 |
|
Vacant and unimproved |
|
|
100 |
|
|
|
--- |
|
|
|
100 |
|
|
|
50,272 |
|
|
|
50,372 |
|
Commercial development |
|
|
--- |
|
|
|
29 |
|
|
|
29 |
|
|
|
4,053 |
|
|
|
4,082 |
|
Residential improved |
|
|
100 |
|
|
|
440 |
|
|
|
540 |
|
|
|
69,072 |
|
|
|
69,612 |
|
Commercial improved |
|
|
--- |
|
|
|
958 |
|
|
|
958 |
|
|
|
268,799 |
|
|
|
269,757 |
|
Manufacturing and industrial |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
76,441 |
|
|
|
76,441 |
|
| |
|
|
200 |
|
|
|
1,427 |
|
|
|
1,627 |
|
|
|
488,904 |
|
|
|
490,531 |
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
338 |
|
|
|
303 |
|
|
|
641 |
|
|
|
189,608 |
|
|
|
190,249 |
|
Unsecured |
|
|
--- |
|
|
|
18 |
|
|
|
18 |
|
|
|
930 |
|
|
|
948 |
|
Home equity |
|
|
79 |
|
|
|
422 |
|
|
|
501 |
|
|
|
98,386 |
|
|
|
98,887 |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
10,194 |
|
|
|
10,194 |
|
| |
|
|
417 |
|
|
|
743 |
|
|
|
1,160 |
|
|
|
299,118 |
|
|
|
300,278 |
|
Total |
|
$ |
671 |
|
|
$ |
2,170 |
|
|
$ |
2,841 |
|
|
$ |
1,115,642 |
|
|
$ |
1,118,483 |
|
The following table presents the aging of the recorded investment in past due loans as of December 31, 2013 by class of loans (dollars in thousands):
December 31, 2013 |
|
30-90
Days
|
|
|
Greater Than
90 Days
|
|
|
Total
Past Due
|
|
|
Loans Not
Past Due
|
|
|
Total |
|
Commercial and industrial |
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
274,099 |
|
|
$ |
274,099 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
143 |
|
|
|
2,296 |
|
|
|
2,439 |
|
|
|
15,691 |
|
|
|
18,130 |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
7,315 |
|
|
|
7,315 |
|
Vacant and unimproved |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
42,988 |
|
|
|
42,988 |
|
Commercial development |
|
|
--- |
|
|
|
23 |
|
|
|
23 |
|
|
|
2,411 |
|
|
|
2,434 |
|
Residential improved |
|
|
98 |
|
|
|
50 |
|
|
|
148 |
|
|
|
76,146 |
|
|
|
76,294 |
|
Commercial improved |
|
|
438 |
|
|
|
2,056 |
|
|
|
2,494 |
|
|
|
244,701 |
|
|
|
247,195 |
|
Manufacturing and industrial |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
77,984 |
|
|
|
77,984 |
|
| |
|
|
679 |
|
|
|
4,425 |
|
|
|
5,104 |
|
|
|
467,236 |
|
|
|
472,340 |
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
78 |
|
|
|
--- |
|
|
|
78 |
|
|
|
188,570 |
|
|
|
188,648 |
|
Unsecured |
|
|
9 |
|
|
|
--- |
|
|
|
9 |
|
|
|
1,328 |
|
|
|
1,337 |
|
Home equity |
|
|
317 |
|
|
|
--- |
|
|
|
317 |
|
|
|
95,644 |
|
|
|
95,961 |
|
Other secured |
|
|
12 |
|
|
|
--- |
|
|
|
12 |
|
|
|
9,980 |
|
|
|
9,992 |
|
| |
|
|
416 |
|
|
|
--- |
|
|
|
416 |
|
|
|
295,522 |
|
|
|
295,938 |
|
Total |
|
$ |
1,095 |
|
|
$ |
4,425 |
|
|
$ |
5,520 |
|
|
$ |
1,036,857 |
|
|
$ |
1,042,377 |
|
|
| Troubled Debt Restructurings |
The following table presents information regarding troubled debt restructurings as of December 31, 2014 and 2013 (dollars in thousands):
| |
|
2014 |
|
|
2013 |
|
| |
|
Number of Loans |
|
|
Outstanding Recorded Balance |
|
|
Number of Loans |
|
|
Outstanding Recorded Balance |
|
Commercial and industrial |
|
|
36 |
|
|
$ |
9,085 |
|
|
|
43 |
|
|
$ |
7,787 |
|
Commercial real estate |
|
|
84 |
|
|
|
29,817 |
|
|
|
122 |
|
|
|
45,774 |
|
Consumer |
|
|
106 |
|
|
|
14,495 |
|
|
|
106 |
|
|
|
14,531 |
|
| |
|
|
226 |
|
|
$ |
53,397 |
|
|
|
271 |
|
|
$ |
68,092 |
|
The following table presents information related to accruing troubled debt restructurings as of December 31, 2014, 2013, 2012 and 2011. The table presents the amount of accruing troubled debt restructurings that were on nonaccrual status prior to the restructuring, accruing at the time of restructuring and those that were upgraded to accruing status after receiving six consecutive monthly payments in accordance with the restructured terms as of December 31, 2014, 2013, 2012 and 2011 (dollars in thousands):
| |
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
2011 |
|
Accruing TDR - nonaccrual at restructuring |
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
1,135 |
|
|
$ |
605 |
|
Accruing TDR - accruing at restructuring |
|
|
46,197 |
|
|
|
57,790 |
|
|
|
61,545 |
|
|
|
51,532 |
|
Accruing TDR - upgraded to accruing after six consecutive payments |
|
|
--- |
|
|
|
--- |
|
|
|
2,344 |
|
|
|
3,542 |
|
| |
|
$ |
46,197 |
|
|
$ |
57,790 |
|
|
$ |
65,024 |
|
|
$ |
55,679 |
|
The following tables present information regarding troubled debt restructurings executed during the year ended December 31, 2014, 2013 and 2012 (dollars in thousands):
2014 |
|
Number of Loans |
|
|
Pre-Modification
Outstanding
Recorded Balance
|
|
|
Principal
Writedown upon
Modification
|
|
Commercial and industrial |
|
|
1 |
|
|
$ |
61 |
|
|
$ |
--- |
|
Commercial real estate |
|
|
11 |
|
|
|
4,345 |
|
|
|
--- |
|
Consumer |
|
|
39 |
|
|
|
1,422 |
|
|
|
--- |
|
| |
|
|
51 |
|
|
$ |
5,828 |
|
|
$ |
--- |
|
2013 |
|
Number of Loans |
|
|
Pre-Modification
Outstanding
Recorded Balance
|
|
|
Principal
Writedown upon
Modification
|
|
Commercial and industrial |
|
|
5 |
|
|
$ |
1,085 |
|
|
$ |
--- |
|
Commercial real estate |
|
|
13 |
|
|
|
4,298 |
|
|
|
--- |
|
Consumer |
|
|
36 |
|
|
|
5,833 |
|
|
|
--- |
|
| |
|
|
54 |
|
|
$ |
11,216 |
|
|
$ |
--- |
|
2012 |
|
Number of Loans |
|
|
Pre-Modification
Outstanding
Recorded Balance
|
|
|
Principal
Writedown upon
Modification
|
|
Commercial and industrial |
|
|
16 |
|
|
$ |
1,462 |
|
|
$ |
9 |
|
Commercial real estate |
|
|
52 |
|
|
|
15,413 |
|
|
|
332 |
|
Consumer |
|
|
10 |
|
|
|
1,518 |
|
|
|
261 |
|
| |
|
|
78 |
|
|
$ |
18,393 |
|
|
$ |
602 |
|
|
| Troubled Debt Restructured Loans That Defaulted During the Period |
The table below presents, by class, information regarding troubled debt restructurings which had payment defaults during the twelve months ended December 31, 2014, 2013 and 2012 (dollars in thousands). Included are loans that became delinquent more than 90 days past due or transferred to nonaccrual within 12 months of restructuring.
| |
|
2014 |
|
|
2013 |
|
|
2012 |
|
| |
|
Number of Loans |
|
Outstanding Recorded Balance |
|
|
Number of Loans |
|
Outstanding Recorded Balance |
|
|
Number of Loans |
|
Outstanding Recorded Balance |
|
Commercial and industrial |
|
|
--- |
|
|
$ |
--- |
|
|
|
--- |
|
|
$ |
--- |
|
|
|
3 |
|
|
$ |
112 |
|
Commercial real estate |
|
|
1 |
|
|
|
131 |
|
|
|
1 |
|
|
|
1,350 |
|
|
|
2 |
|
|
|
225 |
|
Consumer |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
2 |
|
|
|
184 |
|
|
| Risk Grade Category of Loans by Class of Loans |
As of December 31, 2014, the risk grade category of commercial loans by class of loans was as follows (dollars in thousands):
2014 |
|
|
1 |
|
|
|
2 |
|
|
|
3 |
|
|
|
4 |
|
|
|
5 |
|
|
|
6 |
|
|
|
7 |
|
|
|
8 |
|
Commercial and industrial |
|
$ |
343 |
|
|
$ |
11,177 |
|
|
$ |
118,382 |
|
|
$ |
182,651 |
|
|
$ |
8,448 |
|
|
$ |
1,068 |
|
|
$ |
5,605 |
|
|
$ |
--- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
--- |
|
|
|
--- |
|
|
|
2,491 |
|
|
|
4,702 |
|
|
|
4,491 |
|
|
|
842 |
|
|
|
245 |
|
|
|
--- |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
7,496 |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
--- |
|
|
|
--- |
|
|
|
12,105 |
|
|
|
30,997 |
|
|
|
7,241 |
|
|
|
29 |
|
|
|
--- |
|
|
|
--- |
|
Commercial development |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
3,643 |
|
|
|
211 |
|
|
|
199 |
|
|
|
29 |
|
|
|
--- |
|
Residential improved |
|
|
--- |
|
|
|
103 |
|
|
|
16,291 |
|
|
|
43,928 |
|
|
|
6,428 |
|
|
|
2,096 |
|
|
|
766 |
|
|
|
--- |
|
Commercial improved |
|
|
--- |
|
|
|
4,392 |
|
|
|
61,543 |
|
|
|
178,169 |
|
|
|
20,558 |
|
|
|
4,229 |
|
|
|
866 |
|
|
|
--- |
|
Manufacturing and industrial |
|
|
--- |
|
|
|
1,508 |
|
|
|
27,396 |
|
|
|
42,494 |
|
|
|
4,713 |
|
|
|
330 |
|
|
|
--- |
|
|
|
--- |
|
| |
|
$ |
343 |
|
|
$ |
17,180 |
|
|
$ |
238,208 |
|
|
$ |
494,080 |
|
|
$ |
52,090 |
|
|
$ |
8,793 |
|
|
$ |
7,511 |
|
|
$ |
--- |
|
As of December 31, 2013, the risk grade category of commercial loans by class of loans was as follows (dollars in thousands):
2013 |
|
|
1 |
|
|
|
2 |
|
|
|
3 |
|
|
|
4 |
|
|
|
5 |
|
|
|
6 |
|
|
|
7 |
|
|
|
8 |
|
Commercial and industrial |
|
$ |
509 |
|
|
$ |
15,836 |
|
|
$ |
81,577 |
|
|
$ |
155,680 |
|
|
$ |
13,513 |
|
|
$ |
1,359 |
|
|
$ |
5,625 |
|
|
$ |
--- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
--- |
|
|
|
--- |
|
|
|
2,039 |
|
|
|
5,653 |
|
|
|
5,232 |
|
|
|
2,616 |
|
|
|
2,590 |
|
|
|
--- |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
7,309 |
|
|
|
6 |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
--- |
|
|
|
--- |
|
|
|
11,191 |
|
|
|
24,638 |
|
|
|
6,761 |
|
|
|
398 |
|
|
|
--- |
|
|
|
--- |
|
Commercial development |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
1,673 |
|
|
|
532 |
|
|
|
207 |
|
|
|
23 |
|
|
|
--- |
|
Residential improved |
|
|
--- |
|
|
|
109 |
|
|
|
15,121 |
|
|
|
45,018 |
|
|
|
9,391 |
|
|
|
6,226 |
|
|
|
429 |
|
|
|
--- |
|
Commercial improved |
|
|
--- |
|
|
|
7,382 |
|
|
|
45,391 |
|
|
|
161,897 |
|
|
|
24,937 |
|
|
|
5,075 |
|
|
|
2,511 |
|
|
|
--- |
|
Manufacturing and industrial |
|
|
--- |
|
|
|
311 |
|
|
|
24,546 |
|
|
|
42,133 |
|
|
|
10,402 |
|
|
|
593 |
|
|
|
--- |
|
|
|
--- |
|
| |
|
$ |
509 |
|
|
$ |
23,638 |
|
|
$ |
179,865 |
|
|
$ |
444,001 |
|
|
$ |
70,774 |
|
|
$ |
16,474 |
|
|
$ |
11,178 |
|
|
$ |
--- |
|
|
| Commercial Loans Classified as Substandard or Worse |
Commercial loans classified as substandard or worse were as follows at year-end (dollars in thousands):
| |
|
2014 |
|
|
2013 |
|
Not classified as impaired |
|
$ |
4,220 |
|
|
$ |
7,400 |
|
Classified as impaired |
|
|
12,084 |
|
|
|
20,252 |
|
Total commercial loans classified substandard or worse |
|
$ |
16,304 |
|
|
$ |
27,652 |
|
|
| Recorded Investment in Consumer Loans Based on Payment Activity |
The following tables present the recorded investment in consumer loans based on payment activity as of December 31, 2014 and 2013 (dollars in thousands):
December 31, 2014 |
|
Residential Mortgage |
|
|
Consumer Unsecured |
|
|
Home
Equity
|
|
|
Consumer Other |
|
Performing |
|
$ |
189,946 |
|
|
$ |
930 |
|
|
$ |
98,465 |
|
|
$ |
10,194 |
|
Nonperforming |
|
|
303 |
|
|
|
18 |
|
|
|
422 |
|
|
|
--- |
|
Total |
|
$ |
190,249 |
|
|
$ |
948 |
|
|
$ |
98,887 |
|
|
$ |
10,194 |
|
December 31, 2013 |
|
Residential Mortgage |
|
|
Consumer Unsecured |
|
|
Home
Equity
|
|
|
Consumer Other |
|
Performing |
|
$ |
188,648 |
|
|
$ |
1,337 |
|
|
$ |
95,961 |
|
|
$ |
9,992 |
|
Nonperforming |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Total |
|
$ |
188,648 |
|
|
$ |
1,337 |
|
|
$ |
95,961 |
|
|
$ |
9,992 |
|
|