Quarterly report pursuant to Section 13 or 15(d)

Loans, Net (Tables)

v3.8.0.1
Loans, Net (Tables)
3 Months Ended
Mar. 31, 2018
Receivables [Abstract]  
Summary of Loans

Loans consisted of the following at March 31, 2018 and December 31, 2017:

 

 

 

March 31,

2018

 

 

December 31,

2017

 

 

 

(Dollars in thousands)

 

Commercial and industrial loans (1)

 

$

137,400

 

 

$

135,040

 

Real estate:

 

 

 

 

 

 

 

 

1-4 single family residential loans

 

 

238,382

 

 

 

232,510

 

Construction, land and development

 

 

143,646

 

 

 

139,470

 

Commercial real estate loans (including multifamily)

 

 

289,571

 

 

 

285,731

 

Consumer loans and leases

 

 

20,824

 

 

 

22,736

 

Municipal and other loans

 

 

52,278

 

 

 

53,632

 

Total loans held in portfolio (2)

 

$

882,101

 

 

$

869,119

 

Allowance for loan losses

 

 

(5,727

)

 

 

(5,652

)

Loans held in portfolio, net

 

$

876,374

 

 

$

863,467

 

 

(1) Balance includes $70.1 million and $67.1 million of the unguaranteed portion of SBA loans as of March 31, 2018 and December 31, 2017, respectively.

(2) Balance includes $(3.5) million and $(3.4) million of deferred fees, cost, premium and discount as of March 31, 2018 and December 31, 2017, respectively.

Summary of Loans to Related Parties and Principal Owners

In the ordinary course of business, the Company makes loans to executive officers and directors. Loans to these related parties, including companies in which they are principal owners, are as follows:

 

 

Three Months Ended March 31,

 

 

 

2018

 

 

2017

 

 

 

(Dollars in thousands)

 

Principal outstanding, beginning of year

 

$

463

 

 

$

9,036

 

Additions (reductions) of affiliations

 

 

 

 

 

(7,708

)

New loans made in current year

 

 

 

 

 

 

Repayments

 

 

(21

)

 

 

(787

)

Principal outstanding, end of year

 

$

442

 

 

$

541