|
LOANS (Tables)
|
6 Months Ended |
|
Jun. 30, 2013
|
| LOANS [Abstract] |
|
| Portfolio loans |
Portfolio loans were as follows (dollars in thousands):
|
|
June 30,
2013
|
|
|
December 31,
2012
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
242,759 |
|
|
$ |
259,700 |
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
Residential developed |
|
|
22,788 |
|
|
|
26,090 |
|
Unsecured to residential developers |
|
|
7,048 |
|
|
|
5,547 |
|
Vacant and unimproved |
|
|
49,992 |
|
|
|
56,525 |
|
Commercial development |
|
|
1,469 |
|
|
|
1,799 |
|
Residential improved |
|
|
70,223 |
|
|
|
75,813 |
|
Commercial improved |
|
|
250,544 |
|
|
|
255,738 |
|
Manufacturing and industrial |
|
|
77,591 |
|
|
|
81,447 |
|
Total commercial real estate |
|
|
479,655 |
|
|
|
502,959 |
|
|
|
|
|
|
|
|
|
|
Consumer |
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
181,292 |
|
|
|
182,625 |
|
Unsecured |
|
|
1,601 |
|
|
|
1,683 |
|
Home equity |
|
|
96,463 |
|
|
|
92,764 |
|
Other secured |
|
|
11,117 |
|
|
|
12,617 |
|
Total consumer |
|
|
290,473 |
|
|
|
289,689 |
|
|
|
|
|
|
|
|
|
|
Total loans |
|
|
1,012,887 |
|
|
|
1,052,348 |
|
Allowance for loan losses |
|
|
(22,248 |
) |
|
|
(23,739 |
) |
|
|
|
|
|
|
|
|
|
|
|
$ |
990,639 |
|
|
$ |
1,028,609 |
|
|
| Activity in allowance for loan losses by portfolio segment |
Activity in the allowance for loan losses by portfolio segment was as follows (dollars in thousands):
Three months ended June 30, 2013: |
|
Commercial and
Industrial
|
|
|
Commercial
Real Estate
|
|
|
Consumer |
|
|
Unallocated |
|
|
Total |
|
Beginning balance |
|
$ |
5,980 |
|
|
$ |
13,358 |
|
|
$ |
4,102 |
|
|
$ |
47 |
|
|
$ |
23,487 |
|
Charge-offs |
|
|
(87 |
) |
|
|
(222 |
) |
|
|
(389 |
) |
|
|
--- |
|
|
|
(698 |
) |
Recoveries |
|
|
71 |
|
|
|
310 |
|
|
|
78 |
|
|
|
--- |
|
|
|
459 |
|
Provision for loan losses |
|
|
(362 |
) |
|
|
(1,122 |
) |
|
|
464 |
|
|
|
20 |
|
|
|
(1,000 |
) |
Ending Balance |
|
$ |
5,602 |
|
|
$ |
12,324 |
|
|
$ |
4,255 |
|
|
$ |
67 |
|
|
$ |
22,248 |
|
Three months ended June 30, 2012: |
|
Commercial and
Industrial
|
|
|
Commercial
Real Estate
|
|
|
Consumer |
|
|
Unallocated |
|
|
Total |
|
Beginning balance |
|
$ |
7,507 |
|
|
$ |
17,565 |
|
|
$ |
4,366 |
|
|
$ |
13 |
|
|
$ |
29,451 |
|
Charge-offs |
|
|
(21 |
) |
|
|
(799 |
) |
|
|
(79 |
) |
|
|
--- |
|
|
|
(899 |
) |
Recoveries |
|
|
110 |
|
|
|
201 |
|
|
|
67 |
|
|
|
--- |
|
|
|
378 |
|
Provision for loan losses |
|
|
(958 |
) |
|
|
(1,728 |
) |
|
|
900 |
|
|
|
36 |
|
|
|
(1,750 |
) |
Ending Balance |
|
$ |
6,638 |
|
|
$ |
15,239 |
|
|
$ |
5,254 |
|
|
$ |
49 |
|
|
$ |
27,180 |
|
Six months ended June 30, 2013: |
|
Commercial and
Industrial
|
|
|
Commercial
Real Estate
|
|
|
Consumer |
|
|
Unallocated |
|
|
Total |
|
Beginning balance |
|
$ |
6,459 |
|
|
$ |
13,457 |
|
|
$ |
3,787 |
|
|
$ |
36 |
|
|
$ |
23,739 |
|
Charge-offs |
|
|
(249 |
) |
|
|
(459 |
) |
|
|
(633 |
) |
|
|
--- |
|
|
|
(1,341 |
) |
Recoveries |
|
|
427 |
|
|
|
994 |
|
|
|
179 |
|
|
|
--- |
|
|
|
1,600 |
|
Provision for loan losses |
|
|
(1,035 |
) |
|
|
(1,668 |
) |
|
|
922 |
|
|
|
31 |
|
|
|
(1,750 |
) |
Ending Balance |
|
$ |
5,602 |
|
|
$ |
12,324 |
|
|
$ |
4,255 |
|
|
$ |
67 |
|
|
$ |
22,248 |
|
Six months ended June 30, 2012: |
|
Commercial and
Industrial
|
|
|
Commercial
Real Estate
|
|
|
Consumer |
|
|
Unallocated |
|
|
Total |
|
Beginning balance |
|
$ |
6,313 |
|
|
$ |
20,475 |
|
|
$ |
4,821 |
|
|
$ |
32 |
|
|
$ |
31,641 |
|
Charge-offs |
|
|
(989 |
) |
|
|
(2,506 |
) |
|
|
(901 |
) |
|
|
--- |
|
|
|
(4,396 |
) |
Recoveries |
|
|
280 |
|
|
|
4,885 |
|
|
|
120 |
|
|
|
--- |
|
|
|
5,285 |
|
Provision for loan losses |
|
|
1,034 |
|
|
|
(7,615 |
) |
|
|
1,214 |
|
|
|
17 |
|
|
|
(5,350 |
) |
Ending Balance |
|
$ |
6,638 |
|
|
$ |
15,239 |
|
|
$ |
5,254 |
|
|
$ |
49 |
|
|
$ |
27,180 |
|
|
| Allowance for loan losses and recorded investment in loans by portfolio segment based on impairment method |
The following table presents 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):
June 30, 2013:
|
|
Commercial and
Industrial
|
|
|
Commercial
Real Estate
|
|
|
Consumer |
|
|
Unallocated |
|
|
Total |
|
Allowance for loan losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending allowance attributable to loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually reviewed for impairment |
|
$ |
1,963 |
|
|
$ |
1,890 |
|
|
$ |
1,065 |
|
|
$ |
--- |
|
|
$ |
4,918 |
|
Collectively evaluated for impairment |
|
|
3,639 |
|
|
|
10,434 |
|
|
|
3,190 |
|
|
|
67 |
|
|
|
17,330 |
|
Total ending allowance balance |
|
$ |
5,602 |
|
|
$ |
12,324 |
|
|
$ |
4,255 |
|
|
$ |
67 |
|
|
$ |
22,248 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually reviewed for impairment |
|
$ |
13,086 |
|
|
$ |
48,395 |
|
|
$ |
15,145 |
|
|
$ |
--- |
|
|
$ |
76,626 |
|
Collectively evaluated for impairment |
|
|
229,673 |
|
|
|
431,260 |
|
|
|
275,328 |
|
|
|
--- |
|
|
|
936,261 |
|
Total ending loans balance |
|
$ |
242,759 |
|
|
$ |
479,655 |
|
|
$ |
290,473 |
|
|
$ |
--- |
|
|
$ |
1,012,887 |
|
December 31, 2012:
|
|
Commercial and
Industrial
|
|
|
Commercial
Real Estate
|
|
|
Consumer |
|
|
Unallocated |
|
|
Total |
|
Allowance for loan losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending allowance attributable to loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually reviewed for impairment |
|
$ |
2,920 |
|
|
$ |
2,418 |
|
|
$ |
716 |
|
|
$ |
--- |
|
|
$ |
6,054 |
|
Collectively evaluated for impairment |
|
|
3,539 |
|
|
|
11,039 |
|
|
|
3,071 |
|
|
|
36 |
|
|
|
17,685 |
|
Total ending allowance balance |
|
$ |
6,459 |
|
|
$ |
13,457 |
|
|
$ |
3,787 |
|
|
$ |
36 |
|
|
$ |
23,739 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually reviewed for impairment |
|
$ |
14,390 |
|
|
$ |
54,831 |
|
|
$ |
14,086 |
|
|
$ |
--- |
|
|
$ |
83,307 |
|
Collectively evaluated for impairment |
|
|
245,310 |
|
|
|
448,128 |
|
|
|
275,603 |
|
|
|
--- |
|
|
|
969,041 |
|
Total ending loans balance |
|
$ |
259,700 |
|
|
$ |
502,959 |
|
|
$ |
289,689 |
|
|
$ |
--- |
|
|
$ |
1,052,348 |
|
|
| Loans individually evaluated for impairment by class of loans |
The following table presents loans individually evaluated for impairment by class of loans as of June 30, 2013 (dollars in thousands):
|
|
Unpaid
Principal
Balance
|
|
|
Recorded
Investment
|
|
|
Allowance
Allocated
|
|
With no related allowance recorded: |
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
4,397 |
|
|
$ |
4,394 |
|
|
$ |
--- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
5,551 |
|
|
|
4,618 |
|
|
|
--- |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
880 |
|
|
|
880 |
|
|
|
--- |
|
Commercial development |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Residential improved |
|
|
1,073 |
|
|
|
1,073 |
|
|
|
--- |
|
Commercial improved |
|
|
3,180 |
|
|
|
3,165 |
|
|
|
--- |
|
Manufacturing and industrial |
|
|
810 |
|
|
|
810 |
|
|
|
--- |
|
|
|
|
11,494 |
|
|
|
10,546 |
|
|
|
--- |
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Unsecured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Home equity |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
$ |
15,891 |
|
|
$ |
14,940 |
|
|
$ |
--- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
8,738 |
|
|
$ |
8,693 |
|
|
$ |
1,963 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
1,783 |
|
|
|
1,783 |
|
|
|
174 |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
1,995 |
|
|
|
1,995 |
|
|
|
101 |
|
Commercial development |
|
|
14 |
|
|
|
14 |
|
|
|
1 |
|
Residential improved |
|
|
10,247 |
|
|
|
10,247 |
|
|
|
411 |
|
Commercial improved |
|
|
19,327 |
|
|
|
19,327 |
|
|
|
1,092 |
|
Manufacturing and industrial |
|
|
4,482 |
|
|
|
4,482 |
|
|
|
111 |
|
|
|
|
37,848 |
|
|
|
37,848 |
|
|
|
1,890 |
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
9,433 |
|
|
|
9,433 |
|
|
|
663 |
|
Unsecured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Home equity |
|
|
5,712 |
|
|
|
5,712 |
|
|
|
402 |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
|
15,145 |
|
|
|
15,145 |
|
|
|
1,065 |
|
|
|
$ |
61,731 |
|
|
$ |
61,686 |
|
|
$ |
4,918 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
77,622 |
|
|
$ |
76,626 |
|
|
$ |
4,918 |
|
The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2012 (dollars in thousands):
|
|
Unpaid
Principal
Balance
|
|
|
Recorded
Investment
|
|
|
Allowance
Allocated
|
|
With no related allowance recorded: |
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
2,515 |
|
|
$ |
2,512 |
|
|
$ |
--- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
7,136 |
|
|
|
6,283 |
|
|
|
--- |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
2,321 |
|
|
|
2,136 |
|
|
|
--- |
|
Commercial development |
|
|
213 |
|
|
|
213 |
|
|
|
--- |
|
Residential improved |
|
|
3,293 |
|
|
|
3,019 |
|
|
|
--- |
|
Commercial improved |
|
|
7,268 |
|
|
|
6,127 |
|
|
|
--- |
|
Manufacturing and industrial |
|
|
3,686 |
|
|
|
3,686 |
|
|
|
--- |
|
|
|
|
23,917 |
|
|
|
21,464 |
|
|
|
|
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
4,614 |
|
|
|
3,062 |
|
|
|
--- |
|
Unsecured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Home equity |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
|
4,614 |
|
|
|
3,062 |
|
|
|
--- |
|
|
|
$ |
31,046 |
|
|
$ |
27,038 |
|
|
$ |
--- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
11,878 |
|
|
$ |
11,878 |
|
|
$ |
2,920 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
1,524 |
|
|
|
1,524 |
|
|
|
337 |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
1,688 |
|
|
|
1,688 |
|
|
|
34 |
|
Commercial development |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Residential improved |
|
|
10,063 |
|
|
|
10,063 |
|
|
|
842 |
|
Commercial improved |
|
|
15,386 |
|
|
|
15,386 |
|
|
|
1,071 |
|
Manufacturing and industrial |
|
|
4,706 |
|
|
|
4,706 |
|
|
|
134 |
|
|
|
|
33,367 |
|
|
|
33,367 |
|
|
|
2,418 |
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
10,220 |
|
|
|
10,220 |
|
|
|
664 |
|
Unsecured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Home equity |
|
|
804 |
|
|
|
804 |
|
|
|
52 |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
|
11,024 |
|
|
|
11,024 |
|
|
|
716 |
|
|
|
$ |
56,269 |
|
|
$ |
56,269 |
|
|
$ |
6,054 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
87,315 |
|
|
$ |
83,307 |
|
|
$ |
6,054 |
|
|
| 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 three and six month periods ended June 30, 2013 and 2012 (dollars in thousands):
|
|
Three Months
Ended
June 30,
2013
|
|
|
Three Months
Ended
June 30,
2012
|
|
|
Six
Months
Ended
June 30,
2013
|
|
|
Six
Months
Ended
June 30,
2012
|
|
Average of impaired loans during the period: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
14,823 |
|
|
$ |
14,788 |
|
|
$ |
16,027 |
|
|
$ |
16,874 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
6,553 |
|
|
|
8,351 |
|
|
|
6,841 |
|
|
|
8,445 |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
3,031 |
|
|
|
3,862 |
|
|
|
3,339 |
|
|
|
3,672 |
|
Commercial development |
|
|
14 |
|
|
|
217 |
|
|
|
15 |
|
|
|
218 |
|
Residential improved |
|
|
11,678 |
|
|
|
13,440 |
|
|
|
12,102 |
|
|
|
13,993 |
|
Commercial improved |
|
|
21,032 |
|
|
|
17,280 |
|
|
|
21,488 |
|
|
|
16,690 |
|
Manufacturing and industrial |
|
|
6,136 |
|
|
|
9,299 |
|
|
|
6,577 |
|
|
|
9,384 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer |
|
|
15,183 |
|
|
|
16,136 |
|
|
|
14,917 |
|
|
|
16,030 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income recognized during impairment: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
784 |
|
|
|
465 |
|
|
|
1,127 |
|
|
|
827 |
|
Commercial real estate |
|
|
816 |
|
|
|
626 |
|
|
|
1,434 |
|
|
|
1,211 |
|
Consumer |
|
|
137 |
|
|
|
144 |
|
|
|
260 |
|
|
|
278 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash-basis interest income recognized |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
599 |
|
|
|
487 |
|
|
|
935 |
|
|
|
815 |
|
Commercial real estate |
|
|
879 |
|
|
|
627 |
|
|
|
1,469 |
|
|
|
1,215 |
|
Consumer |
|
|
133 |
|
|
|
139 |
|
|
|
257 |
|
|
|
276 |
|
|
| Recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans |
The following table presents the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of June 30, 2013:
|
|
Nonaccrual
|
|
|
Over 90
days
Accruing
|
|
Commercial and industrial |
|
$ |
4,081 |
|
|
$ |
--- |
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
Residential developed |
|
|
2,238 |
|
|
|
--- |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
486 |
|
|
|
--- |
|
Commercial development |
|
|
2 |
|
|
|
--- |
|
Residential improved |
|
|
651 |
|
|
|
--- |
|
Commercial improved |
|
|
2,166 |
|
|
|
158 |
|
Manufacturing and industrial |
|
|
--- |
|
|
|
--- |
|
|
|
|
5,543 |
|
|
|
158 |
|
Consumer: |
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
619 |
|
|
|
--- |
|
Unsecured |
|
|
34 |
|
|
|
--- |
|
Home equity |
|
|
339 |
|
|
|
--- |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
|
|
|
992 |
|
|
|
--- |
|
Total |
|
$ |
10,616 |
|
|
$ |
158 |
|
The following table presents the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of December 31, 2012:
|
|
Nonaccrual
|
|
|
Over 90
days
Accruing
|
|
Commercial and industrial |
|
$ |
7,657 |
|
|
$ |
--- |
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
Residential developed |
|
|
3,024 |
|
|
|
--- |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
706 |
|
|
|
--- |
|
Commercial development |
|
|
2 |
|
|
|
196 |
|
Residential improved |
|
|
1,159 |
|
|
|
--- |
|
Commercial improved |
|
|
1,521 |
|
|
|
422 |
|
Manufacturing and industrial |
|
|
225 |
|
|
|
--- |
|
|
|
|
6,637 |
|
|
|
618 |
|
Consumer: |
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
447 |
|
|
|
--- |
|
Unsecured |
|
|
19 |
|
|
|
--- |
|
Home equity |
|
|
625 |
|
|
|
--- |
|
Other secured |
|
|
--- |
|
|
|
--- |
|
|
|
|
1,091 |
|
|
|
--- |
|
Total |
|
$ |
15,385 |
|
|
$ |
618 |
|
|
| 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 June 30, 2013 by class of loans (dollars in thousands):
|
|
30-90
Days
|
|
|
Greater Than
90 Days
|
|
|
Total
Past Due
|
|
|
Loans Not
Past Due
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
197 |
|
|
$ |
168 |
|
|
$ |
365 |
|
|
$ |
242,394 |
|
|
$ |
242,759 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
--- |
|
|
|
1,917 |
|
|
|
1,917 |
|
|
|
20,871 |
|
|
|
22,788 |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
7,048 |
|
|
|
7,048 |
|
Vacant and unimproved |
|
|
454 |
|
|
|
--- |
|
|
|
454 |
|
|
|
49,538 |
|
|
|
49,992 |
|
Commercial development |
|
|
--- |
|
|
|
2 |
|
|
|
2 |
|
|
|
1,467 |
|
|
|
1,469 |
|
Residential improved |
|
|
185 |
|
|
|
160 |
|
|
|
345 |
|
|
|
69,878 |
|
|
|
70,223 |
|
Commercial improved |
|
|
310 |
|
|
|
1,861 |
|
|
|
2,171 |
|
|
|
248,373 |
|
|
|
250,544 |
|
Manufacturing and industrial |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
77,591 |
|
|
|
77,591 |
|
|
|
|
949 |
|
|
|
3,940 |
|
|
|
4,889 |
|
|
|
474,766 |
|
|
|
479,655 |
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
101 |
|
|
|
616 |
|
|
|
717 |
|
|
|
180,575 |
|
|
|
181,292 |
|
Unsecured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
1,601 |
|
|
|
1,601 |
|
Home equity |
|
|
334 |
|
|
|
324 |
|
|
|
658 |
|
|
|
95,805 |
|
|
|
96,463 |
|
Other secured |
|
|
52 |
|
|
|
--- |
|
|
|
52 |
|
|
|
11,065 |
|
|
|
11,117 |
|
|
|
|
487 |
|
|
|
940 |
|
|
|
1,427 |
|
|
|
289,046 |
|
|
|
290,473 |
|
Total |
|
$ |
1,633 |
|
|
$ |
5,048 |
|
|
$ |
6,681 |
|
|
$ |
1,006,206 |
|
|
$ |
1,012,887 |
|
The following table presents the aging of the recorded investment in past due loans as of December 31, 2012 by class of loans (dollars in thousands):
|
|
30-90
Days
|
|
|
Greater Than
90 Days
|
|
|
Total
Past Due
|
|
|
Loans Not
Past Due
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
395 |
|
|
$ |
219 |
|
|
$ |
614 |
|
|
$ |
259,086 |
|
|
$ |
259,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
--- |
|
|
|
35 |
|
|
|
35 |
|
|
|
26,055 |
|
|
|
26,090 |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
5,547 |
|
|
|
5,547 |
|
Vacant and unimproved |
|
|
17 |
|
|
|
652 |
|
|
|
669 |
|
|
|
55,856 |
|
|
|
56,525 |
|
Commercial development |
|
|
--- |
|
|
|
199 |
|
|
|
199 |
|
|
|
1,600 |
|
|
|
1,799 |
|
Residential improved |
|
|
520 |
|
|
|
192 |
|
|
|
712 |
|
|
|
75,101 |
|
|
|
75,813 |
|
Commercial improved |
|
|
2,502 |
|
|
|
1,436 |
|
|
|
3,938 |
|
|
|
251,800 |
|
|
|
255,738 |
|
Manufacturing and industrial |
|
|
200 |
|
|
|
25 |
|
|
|
225 |
|
|
|
81,222 |
|
|
|
81,447 |
|
|
|
|
3,239 |
|
|
|
2,539 |
|
|
|
5,778 |
|
|
|
497,181 |
|
|
|
502,959 |
|
Consumer: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage |
|
|
647 |
|
|
|
110 |
|
|
|
757 |
|
|
|
181,868 |
|
|
|
182,625 |
|
Unsecured |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
1,683 |
|
|
|
1,683 |
|
Home equity |
|
|
415 |
|
|
|
264 |
|
|
|
679 |
|
|
|
92,085 |
|
|
|
92,764 |
|
Other secured |
|
|
59 |
|
|
|
--- |
|
|
|
59 |
|
|
|
12,558 |
|
|
|
12,617 |
|
|
|
|
1,121 |
|
|
|
374 |
|
|
|
1,495 |
|
|
|
288,194 |
|
|
|
289,689 |
|
Total |
|
$ |
4,755 |
|
|
$ |
3,132 |
|
|
$ |
7,887 |
|
|
$ |
1,044,461 |
|
|
$ |
1,052,348 |
|
|
| Troubled debt restructurings |
The following table presents information regarding troubled debt restructurings as of June 30, 2013 and December 31, 2012 (dollars in thousands):
|
|
June 30, 2013 |
|
|
December 31, 2012 |
|
|
|
Number of
Loans
|
|
|
Outstanding
Recorded
Balance
|
|
|
Number of
Loans
|
|
|
Outstanding
Recorded
Balance
|
|
Commercial and industrial |
|
|
59 |
|
|
$ |
12,965 |
|
|
|
58 |
|
|
$ |
14,485 |
|
Commercial real estate |
|
|
123 |
|
|
|
43,514 |
|
|
|
142 |
|
|
|
49,936 |
|
Consumer |
|
|
107 |
|
|
|
15,188 |
|
|
|
86 |
|
|
|
13,634 |
|
|
|
|
289 |
|
|
$ |
71,667 |
|
|
|
286 |
|
|
$ |
78,055 |
|
The following table presents information regarding troubled debt restructurings executed during the three month periods ended June 30, 2013 and 2012 (dollars in thousands):
|
Three Months Ended
June 30, 2013
|
|
Three Months Ended
June 30, 2012
|
|
|
Number of
Loans
|
|
Outstanding
Recorded
Balance
|
|
Principal
Writedown
upon
Modification
|
|
Number of
Loans
|
|
Outstanding
Recorded
Balance
|
|
Principal
Writedown
upon
Modification
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
2 |
|
|
$ |
237 |
|
|
$ |
--- |
|
|
|
3 |
|
|
$ |
93 |
|
|
$ |
9 |
|
Commercial real estate |
|
|
4 |
|
|
|
1,276 |
|
|
|
--- |
|
|
|
9 |
|
|
|
1,301 |
|
|
|
--- |
|
Consumer |
|
|
7 |
|
|
|
448 |
|
|
|
--- |
|
|
|
2 |
|
|
|
275 |
|
|
|
--- |
|
|
|
|
13 |
|
|
$ |
1,961 |
|
|
$ |
--- |
|
|
|
14 |
|
|
$ |
1,669 |
|
|
$ |
9 |
|
The following table presents information regarding troubled debt restructurings executed during the six month periods ended June 30, 2013 and 2012 (dollars in thousands):
|
Six Months Ended
June 30, 2013
|
|
Six Months Ended
June 30, 2012
|
|
|
Number of
Loans
|
|
Outstanding
Recorded
Balance
|
|
Principal
Writedown
upon
Modification
|
|
Number of
Loans
|
|
Outstanding
Recorded
Balance
|
|
Principal
Writedown
upon
Modification
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
3 |
|
|
$ |
262 |
|
|
$ |
--- |
|
|
|
13 |
|
|
$ |
1,335 |
|
|
$ |
9 |
|
Commercial real estate |
|
|
9 |
|
|
|
2,717 |
|
|
|
--- |
|
|
|
39 |
|
|
|
7,698 |
|
|
|
86 |
|
Consumer |
|
|
30 |
|
|
|
5,469 |
|
|
|
1,770 |
|
|
|
9 |
|
|
|
1,462 |
|
|
|
260 |
|
|
|
|
42 |
|
|
$ |
8,448 |
|
|
$ |
1,770 |
|
|
|
61 |
|
|
$ |
10,495 |
|
|
$ |
355 |
|
|
| Modifications and renewal during period that are not considered TDRs |
The following table presents information regarding modifications and renewals executed during the three month periods ended June 30, 2013 and 2012 that are not considered TDRs (dollars in thousands):
|
|
Three Months Ended
June 30, 2013
|
|
|
Three Months Ended
June 30, 2012
|
|
|
|
Number of
Loans
|
|
Outstanding
Recorded
Balance
|
|
|
Number of
Loans
|
|
Outstanding
Recorded
Balance
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
124 |
|
|
$ |
18,526 |
|
|
|
156 |
|
|
$ |
27,628 |
|
Commercial real estate |
|
|
103 |
|
|
|
40,047 |
|
|
|
85 |
|
|
|
28,906 |
|
Consumer |
|
|
17 |
|
|
|
738 |
|
|
|
22 |
|
|
|
815 |
|
|
|
|
244 |
|
|
$ |
59,311 |
|
|
|
263 |
|
|
$ |
57,349 |
|
The following table presents information regarding modifications and renewals executed during the six month periods ended June 30, 2013 and 2012 that are not considered TDRs (dollars in thousands):
|
|
Six Months Ended
June 30, 2013
|
|
|
Six Months Ended
June 30, 2012
|
|
|
|
Number of
Loans
|
|
Outstanding
Recorded
Balance
|
|
|
Number of
Loans
|
|
Outstanding
Recorded
Balance
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
210 |
|
|
$ |
48,453 |
|
|
|
250 |
|
|
$ |
60,918 |
|
Commercial real estate |
|
|
197 |
|
|
|
75,636 |
|
|
|
164 |
|
|
|
65,706 |
|
Consumer |
|
|
28 |
|
|
|
932 |
|
|
|
46 |
|
|
|
1,687 |
|
|
|
|
435 |
|
|
$ |
125,021 |
|
|
|
460 |
|
|
$ |
128,311 |
|
|
| Troubled debt restructured loans that defaulted during the period |
The table below presents, by class, information regarding troubled debt restructured loans which had payment defaults during the three month periods ended June 30, 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.
|
|
Three Months Ended
June 30, 2013
|
|
|
Three Months Ended
June 30, 2012
|
|
|
|
Number of
Loans
|
|
Outstanding
Recorded
Balance
|
|
|
Number of
Loans
|
|
Outstanding
Recorded
Balance
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
--- |
|
|
$ |
--- |
|
|
|
1 |
|
|
$ |
20 |
|
Commercial real estate |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Consumer |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
The table below presents, by class, information regarding troubled debt restructured loans which had payment defaults during the six month periods ended June 30, 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.
|
|
Six Months Ended
June 30, 2013
|
|
|
Six Months Ended
June 30, 2012
|
|
|
|
Number of
Loans
|
|
Outstanding
Recorded
Balance
|
|
|
Number of
Loans
|
|
Outstanding
Recorded
Balance
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
--- |
|
|
$ |
--- |
|
|
|
3 |
|
|
$ |
112 |
|
Commercial real estate |
|
|
--- |
|
|
|
--- |
|
|
|
1 |
|
|
|
76 |
|
Consumer |
|
|
--- |
|
|
|
--- |
|
|
|
1 |
|
|
|
70 |
|
|
| Risk grade category of loans by class of loans |
As of June 30, 2013, the risk grade category of commercial loans by class of loans was as follows (dollars in thousands):
|
|
|
1 |
|
|
|
2 |
|
|
|
3 |
|
|
|
4 |
|
|
|
5 |
|
|
|
6 |
|
|
|
7 |
|
|
|
8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
1,311 |
|
|
$ |
10,458 |
|
|
$ |
68,445 |
|
|
$ |
141,786 |
|
|
$ |
14,299 |
|
|
$ |
2,378 |
|
|
$ |
4,081 |
|
|
$ |
--- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
--- |
|
|
|
--- |
|
|
|
721 |
|
|
|
6,636 |
|
|
|
7,347 |
|
|
|
5,846 |
|
|
|
2,238 |
|
|
|
--- |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
6,974 |
|
|
|
74 |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
--- |
|
|
|
--- |
|
|
|
11,846 |
|
|
|
26,713 |
|
|
|
10,413 |
|
|
|
536 |
|
|
|
486 |
|
|
|
--- |
|
Commercial development |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
1,282 |
|
|
|
170 |
|
|
|
14 |
|
|
|
2 |
|
|
|
--- |
|
Residential improved |
|
|
--- |
|
|
|
112 |
|
|
|
10,402 |
|
|
|
38,403 |
|
|
|
13,392 |
|
|
|
7,263 |
|
|
|
651 |
|
|
|
--- |
|
Commercial improved |
|
|
--- |
|
|
|
1,164 |
|
|
|
51,982 |
|
|
|
152,281 |
|
|
|
32,758 |
|
|
|
10,193 |
|
|
|
2,166 |
|
|
|
--- |
|
Manufacturing and industrial |
|
|
--- |
|
|
|
252 |
|
|
|
21,190 |
|
|
|
46,150 |
|
|
|
7,888 |
|
|
|
2,110 |
|
|
|
--- |
|
|
|
--- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,311 |
|
|
$ |
11,986 |
|
|
$ |
164,586 |
|
|
$ |
420,225 |
|
|
$ |
86,341 |
|
|
$ |
28,340 |
|
|
$ |
9,624 |
|
|
$ |
--- |
|
As of December 31, 2012, the risk grade category of commercial loans by class of loans was as follows (dollars in thousands):
|
|
|
1 |
|
|
|
2 |
|
|
|
3 |
|
|
|
4 |
|
|
|
5 |
|
|
|
6 |
|
|
|
7 |
|
|
|
8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
$ |
1,349 |
|
|
$ |
20,630 |
|
|
$ |
72,723 |
|
|
$ |
141,425 |
|
|
$ |
12,027 |
|
|
$ |
3,884 |
|
|
$ |
7,662 |
|
|
$ |
--- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential developed |
|
|
--- |
|
|
|
--- |
|
|
|
715 |
|
|
|
6,240 |
|
|
|
9,772 |
|
|
|
6,339 |
|
|
|
3,024 |
|
|
|
--- |
|
Unsecured to residential developers |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
5,535 |
|
|
|
12 |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Vacant and unimproved |
|
|
--- |
|
|
|
--- |
|
|
|
12,532 |
|
|
|
29,654 |
|
|
|
12,412 |
|
|
|
1,221 |
|
|
|
706 |
|
|
|
--- |
|
Commercial development |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
482 |
|
|
|
1,102 |
|
|
|
213 |
|
|
|
2 |
|
|
|
--- |
|
Residential improved |
|
|
--- |
|
|
|
115 |
|
|
|
9,973 |
|
|
|
41,578 |
|
|
|
14,471 |
|
|
|
8,517 |
|
|
|
1,159 |
|
|
|
--- |
|
Commercial improved |
|
|
--- |
|
|
|
2,009 |
|
|
|
40,253 |
|
|
|
159,353 |
|
|
|
37,449 |
|
|
|
15,153 |
|
|
|
1,521 |
|
|
|
--- |
|
Manufacturing and industrial |
|
|
--- |
|
|
|
2,087 |
|
|
|
17,795 |
|
|
|
48,061 |
|
|
|
9,592 |
|
|
|
3,687 |
|
|
|
225 |
|
|
|
--- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,349 |
|
|
$ |
24,841 |
|
|
$ |
153,991 |
|
|
$ |
432,328 |
|
|
$ |
96,837 |
|
|
$ |
39,014 |
|
|
$ |
14,299 |
|
|
$ |
--- |
|
|
| Commercial loans classified as substandard or worse |
Commercial loans classified as substandard or worse were as follows at period-end (dollars in thousands):
|
|
June 30,
2013
|
|
|
December 31,
2012
|
|
|
|
|
|
|
|
|
Not classified as impaired |
|
$ |
8,189 |
|
|
$ |
13,015 |
|
Classified as impaired |
|
|
29,775 |
|
|
|
40,298 |
|
|
|
|
|
|
|
|
|
|
Total commercial loans classified substandard or worse |
|
$ |
37,964 |
|
|
$ |
53,313 |
|
|
| Recorded investment in consumer loans based on payment activity |
The following table presents the recorded investment in consumer loans based on payment activity (dollars in thousands):
June 30, 2013 |
|
Residential
Mortgage
|
|
|
Consumer
Unsecured
|
|
|
Home
Equity
|
|
|
Consumer
Other
|
|
Performing |
|
$ |
180,676 |
|
|
$ |
1,601 |
|
|
$ |
96,139 |
|
|
$ |
11,117 |
|
Nonperforming |
|
|
616 |
|
|
|
--- |
|
|
|
324 |
|
|
|
--- |
|
Total |
|
$ |
181,292 |
|
|
$ |
1,601 |
|
|
$ |
96,463 |
|
|
$ |
11,117 |
|
December 31, 2012 |
|
Residential
Mortgage
|
|
|
Consumer
Unsecured
|
|
|
Home
Equity
|
|
|
Consumer
Other
|
|
Performing |
|
$ |
182,515 |
|
|
$ |
1,683 |
|
|
$ |
92,500 |
|
|
$ |
12,617 |
|
Nonperforming |
|
|
110 |
|
|
|
--- |
|
|
|
264 |
|
|
|
--- |
|
Total |
|
$ |
182,625 |
|
|
$ |
1,683 |
|
|
$ |
92,764 |
|
|
$ |
12,617 |
|
|