Document And Entity Information
v5.12.132.0
Document And Entity Information
6 Months Ended
Jun. 30, 2015
Aug. 13, 2015
Document And Entity Information [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Jun. 30, 2015  
Document Fiscal Year Focus 2015  
Document Fiscal Period Focus Q2  
Entity Registrant Name NEW PEOPLES BANKSHARES INC  
Entity Central Index Key 0001163389  
Current Fiscal Year End Date --12-31  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   22,878,654dei_EntityCommonStockSharesOutstanding

Consolidated Statements Of Income
v5.12.132.0
Consolidated Statements Of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended 18 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2015
INTEREST AND DIVIDEND INCOME        
Loans including fees $ 5,925us-gaap_InterestAndFeeIncomeLoansAndLeases $ 6,240us-gaap_InterestAndFeeIncomeLoansAndLeases $ 11,706us-gaap_InterestAndFeeIncomeLoansAndLeases $ 12,628us-gaap_InterestAndFeeIncomeLoansAndLeases
Federal funds sold 1us-gaap_InterestIncomeFederalFundsSold   2us-gaap_InterestIncomeFederalFundsSold 1us-gaap_InterestIncomeFederalFundsSold
Interest-earning deposits with banks 29us-gaap_InterestIncomeDepositsWithFinancialInstitutions 47us-gaap_InterestIncomeDepositsWithFinancialInstitutions 55us-gaap_InterestIncomeDepositsWithFinancialInstitutions 85us-gaap_InterestIncomeDepositsWithFinancialInstitutions
Investments 423us-gaap_InvestmentIncomeInterestAndDividend 348us-gaap_InvestmentIncomeInterestAndDividend 849us-gaap_InvestmentIncomeInterestAndDividend 690us-gaap_InvestmentIncomeInterestAndDividend
Dividends on equity securities (restricted) 34us-gaap_OtherInterestAndDividendIncome 32us-gaap_OtherInterestAndDividendIncome 66us-gaap_OtherInterestAndDividendIncome 63us-gaap_OtherInterestAndDividendIncome
Total Interest and Dividend Income 6,412us-gaap_InterestAndDividendIncomeOperating 6,667us-gaap_InterestAndDividendIncomeOperating 12,678us-gaap_InterestAndDividendIncomeOperating 13,467us-gaap_InterestAndDividendIncomeOperating
INTEREST EXPENSE        
Demand 9us-gaap_InterestExpenseDemandDepositAccounts 10us-gaap_InterestExpenseDemandDepositAccounts 18us-gaap_InterestExpenseDemandDepositAccounts 19us-gaap_InterestExpenseDemandDepositAccounts
Savings 44us-gaap_InterestExpenseSavingsDeposits 49us-gaap_InterestExpenseSavingsDeposits 85us-gaap_InterestExpenseSavingsDeposits 98us-gaap_InterestExpenseSavingsDeposits
Time deposits below $100,000 360us-gaap_InterestExpenseTimeDepositsLessThan100000 475us-gaap_InterestExpenseTimeDepositsLessThan100000 747us-gaap_InterestExpenseTimeDepositsLessThan100000 966us-gaap_InterestExpenseTimeDepositsLessThan100000
Time deposits above $100,000 251us-gaap_InterestExpenseTimeDeposits100000OrMore 323us-gaap_InterestExpenseTimeDeposits100000OrMore 522us-gaap_InterestExpenseTimeDeposits100000OrMore 662us-gaap_InterestExpenseTimeDeposits100000OrMore
FHLB Advances 38cik0001163389_FederalHomeLoanBankAdvancesInterestExpenses 50cik0001163389_FederalHomeLoanBankAdvancesInterestExpenses 78cik0001163389_FederalHomeLoanBankAdvancesInterestExpenses 103cik0001163389_FederalHomeLoanBankAdvancesInterestExpenses
Trust Preferred Securities 109us-gaap_InterestExpenseTrustPreferredSecurities 113us-gaap_InterestExpenseTrustPreferredSecurities 217us-gaap_InterestExpenseTrustPreferredSecurities 229us-gaap_InterestExpenseTrustPreferredSecurities
Total Interest Expense 811us-gaap_InterestExpense 1,020us-gaap_InterestExpense 1,667us-gaap_InterestExpense 2,077us-gaap_InterestExpense
NET INTEREST INCOME 5,601us-gaap_InterestIncomeExpenseNet 5,647us-gaap_InterestIncomeExpenseNet 11,011us-gaap_InterestIncomeExpenseNet 11,390us-gaap_InterestIncomeExpenseNet
PROVISION FOR LOAN LOSSES          
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 5,601us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss 5,647us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss 11,011us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss 11,390us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss
NONINTEREST INCOME        
Service charges 552us-gaap_FeesAndCommissionsDepositorAccounts 554us-gaap_FeesAndCommissionsDepositorAccounts 1,088us-gaap_FeesAndCommissionsDepositorAccounts 1,058us-gaap_FeesAndCommissionsDepositorAccounts
Fees, commissions and other income 823us-gaap_FeesAndCommissionsOther 705us-gaap_FeesAndCommissionsOther 1,537us-gaap_FeesAndCommissionsOther 1,634us-gaap_FeesAndCommissionsOther
Insurance and investment fees 132us-gaap_InsuranceCommissionsAndFees 97us-gaap_InsuranceCommissionsAndFees 256us-gaap_InsuranceCommissionsAndFees 183us-gaap_InsuranceCommissionsAndFees
Net realized gains on sale of investment securities   1us-gaap_MarketableSecuritiesRealizedGainLoss 35us-gaap_MarketableSecuritiesRealizedGainLoss 4us-gaap_MarketableSecuritiesRealizedGainLoss
Life insurance investment income 34us-gaap_BankOwnedLifeInsuranceIncome 19us-gaap_BankOwnedLifeInsuranceIncome 69us-gaap_BankOwnedLifeInsuranceIncome 36us-gaap_BankOwnedLifeInsuranceIncome
Total Noninterest Income 1,541us-gaap_NoninterestIncome 1,376us-gaap_NoninterestIncome 2,985us-gaap_NoninterestIncome 2,915us-gaap_NoninterestIncome
NONINTEREST EXPENSES        
Salaries and employee benefits 2,882us-gaap_LaborAndRelatedExpense 3,175us-gaap_LaborAndRelatedExpense 5,824us-gaap_LaborAndRelatedExpense 6,409us-gaap_LaborAndRelatedExpense
Occupancy and equipment expense 920us-gaap_OccupancyNet 958us-gaap_OccupancyNet 1,862us-gaap_OccupancyNet 1,969us-gaap_OccupancyNet
Advertising and public relations 72us-gaap_MarketingAndAdvertisingExpense 121us-gaap_MarketingAndAdvertisingExpense 129us-gaap_MarketingAndAdvertisingExpense 238us-gaap_MarketingAndAdvertisingExpense
Data processing and telecommunications 503us-gaap_InformationTechnologyAndDataProcessing 544us-gaap_InformationTechnologyAndDataProcessing 1,002us-gaap_InformationTechnologyAndDataProcessing 1,109us-gaap_InformationTechnologyAndDataProcessing
FDIC insurance premiums 221us-gaap_FederalDepositInsuranceCorporationPremiumExpense 376us-gaap_FederalDepositInsuranceCorporationPremiumExpense 439us-gaap_FederalDepositInsuranceCorporationPremiumExpense 750us-gaap_FederalDepositInsuranceCorporationPremiumExpense
Other real estate owned and repossessed vehicles, net 707cik0001163389_OtherRealEstateOwnedAndRepossessedVehiclesNet 752cik0001163389_OtherRealEstateOwnedAndRepossessedVehiclesNet 1,066cik0001163389_OtherRealEstateOwnedAndRepossessedVehiclesNet 1,528cik0001163389_OtherRealEstateOwnedAndRepossessedVehiclesNet
Other operating expenses 1,375us-gaap_OtherNoninterestExpense 1,258us-gaap_OtherNoninterestExpense 2,587us-gaap_OtherNoninterestExpense 2,536us-gaap_OtherNoninterestExpense
Total Noninterest Expenses 6,680us-gaap_NoninterestExpense 7,184us-gaap_NoninterestExpense 12,909us-gaap_NoninterestExpense 14,539us-gaap_NoninterestExpense
INCOME (LOSS) BEFORE INCOME TAXES 462us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (161)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 1,087us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (234)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
INCOME TAX EXPENSE (BENEFIT)   (4)us-gaap_IncomeTaxExpenseBenefit 3us-gaap_IncomeTaxExpenseBenefit (5)us-gaap_IncomeTaxExpenseBenefit
NET INCOME (LOSS) $ 462us-gaap_NetIncomeLoss $ (157)us-gaap_NetIncomeLoss $ 1,084us-gaap_NetIncomeLoss $ (229)us-gaap_NetIncomeLoss
Income (Loss) Per Share        
Basic $ 0.02us-gaap_EarningsPerShareBasic $ (0.01)us-gaap_EarningsPerShareBasic $ 0.05us-gaap_EarningsPerShareBasic $ (0.01)us-gaap_EarningsPerShareBasic
Fully Diluted $ 0.02us-gaap_EarningsPerShareDiluted $ (0.01)us-gaap_EarningsPerShareDiluted $ 0.05us-gaap_EarningsPerShareDiluted $ (0.01)us-gaap_EarningsPerShareDiluted
Weighted Average Shares of Common Stock        
Basic 22,878,654us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 21,872,293us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 22,878,654us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 21,872,293us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Fully Diluted 22,878,654us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 21,872,293us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 22,878,654us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 21,872,293us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding

Consolidated Statements Of Comprehensive Income
v5.12.132.0
Consolidated Statements Of Comprehensive Income (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Statement Of Other Comprehensive Income [Abstract]        
NET INCOME (LOSS) $ 462us-gaap_NetIncomeLoss $ (157)us-gaap_NetIncomeLoss $ 1,084us-gaap_NetIncomeLoss $ (229)us-gaap_NetIncomeLoss
Investment Securities Activity        
Unrealized gains (losses) arising during the period (893)us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax 400us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax (267)us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax 763us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
Tax related to unrealized gains (losses) 304us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax (136)us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax 91us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax (259)us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
Reclassification of realized gains during the period   (1)us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax (35)us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax (4)us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
Tax related to realized gains   1us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax 12us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax 2us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) (589)us-gaap_OtherComprehensiveIncomeLossNetOfTax 264us-gaap_OtherComprehensiveIncomeLossNetOfTax (199)us-gaap_OtherComprehensiveIncomeLossNetOfTax 502us-gaap_OtherComprehensiveIncomeLossNetOfTax
TOTAL COMPREHENSIVE INCOME $ (127)us-gaap_ComprehensiveIncomeNetOfTax $ 107us-gaap_ComprehensiveIncomeNetOfTax $ 885us-gaap_ComprehensiveIncomeNetOfTax $ 273us-gaap_ComprehensiveIncomeNetOfTax

Consolidated Balance Sheets
v5.12.132.0
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
ASSETS    
Cash and due from banks $ 18,199us-gaap_CashAndDueFromBanks $ 14,622us-gaap_CashAndDueFromBanks
Interest-bearing deposits with banks 13,955us-gaap_InterestBearingDepositsInBanks 20,933us-gaap_InterestBearingDepositsInBanks
Federal funds sold   5us-gaap_FederalFundsSold
Total Cash and Cash Equivalents 32,154us-gaap_CashCashEquivalentsAndFederalFundsSold 35,560us-gaap_CashCashEquivalentsAndFederalFundsSold
Investment securities available-for-sale 107,741us-gaap_AvailableForSaleSecurities 100,069us-gaap_AvailableForSaleSecurities
Loans receivable 443,775us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome 457,549us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome
Allowance for loan losses (8,734)us-gaap_LoansAndLeasesReceivableAllowance (9,922)us-gaap_LoansAndLeasesReceivableAllowance
Net Loans 435,041us-gaap_LoansAndLeasesReceivableNetReportedAmount 447,627us-gaap_LoansAndLeasesReceivableNetReportedAmount
Bank premises and equipment, net 28,321us-gaap_PropertyPlantAndEquipmentNet 28,766us-gaap_PropertyPlantAndEquipmentNet
Equity securities (restricted) 2,376us-gaap_MarketableSecuritiesRestricted 2,369us-gaap_MarketableSecuritiesRestricted
Other real estate owned 15,338us-gaap_RealEstateAcquiredThroughForeclosure 15,049us-gaap_RealEstateAcquiredThroughForeclosure
Accrued interest receivable 1,871us-gaap_InterestReceivable 1,975us-gaap_InterestReceivable
Life insurance investments 12,402us-gaap_BankOwnedLifeInsurance 12,268us-gaap_BankOwnedLifeInsurance
Deferred taxes, net 5,091us-gaap_DeferredTaxAssetsNet 4,988us-gaap_DeferredTaxAssetsNet
Other assets 2,439us-gaap_OtherAssets 2,413us-gaap_OtherAssets
Total Assets 642,774us-gaap_Assets 651,084us-gaap_Assets
Demand deposits:    
Noninterest bearing 150,980us-gaap_NoninterestBearingDepositLiabilities 143,950us-gaap_NoninterestBearingDepositLiabilities
Interest-bearing 30,501us-gaap_InterestBearingDepositLiabilities 29,567us-gaap_InterestBearingDepositLiabilities
Savings deposits 119,213us-gaap_DepositsSavingsDeposits 111,701us-gaap_DepositsSavingsDeposits
Time deposits 275,903us-gaap_TimeDeposits 299,974us-gaap_TimeDeposits
Total Deposits 576,597us-gaap_Deposits 585,192us-gaap_Deposits
Federal Home Loan Bank advances 3,558us-gaap_AdvancesFromFederalHomeLoanBanks 4,158us-gaap_AdvancesFromFederalHomeLoanBanks
Accrued interest payable 322us-gaap_InterestPayableCurrentAndNoncurrent 266us-gaap_InterestPayableCurrentAndNoncurrent
Accrued expenses and other liabilities 2,065us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent 2,121us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Trust preferred securities 16,496cik0001163389_TrustPreferredSecurities 16,496cik0001163389_TrustPreferredSecurities
Total Liabilities 599,038us-gaap_Liabilities 608,233us-gaap_Liabilities
STOCKHOLDERS' EQUITY    
Common stock $2.00 par value; 50,000,000 shares authorized; 22,878,654 shares issued and outstanding 45,757us-gaap_CommonStockValue 45,757us-gaap_CommonStockValue
Common stock warrants 1,176cik0001163389_CommonStockWarrants 1,176cik0001163389_CommonStockWarrants
Additional paid-in-capital 13,672us-gaap_AdditionalPaidInCapitalCommonStock 13,672us-gaap_AdditionalPaidInCapitalCommonStock
Retained deficit (16,601)us-gaap_RetainedEarningsAccumulatedDeficit (17,685)us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive income (loss) (268)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (69)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Total Stockholders' Equity 43,736us-gaap_StockholdersEquity 42,851us-gaap_StockholdersEquity
Total Liabilities and Stockholders' Equity $ 642,774us-gaap_LiabilitiesAndStockholdersEquity $ 651,084us-gaap_LiabilitiesAndStockholdersEquity

Consolidated Balance Sheets (Parenthetical)
v5.12.132.0
Consolidated Balance Sheets (Parenthetical) (USD $)
Jun. 30, 2015
Dec. 31, 2014
Consolidated Balance Sheets [Abstract]    
Common stock, par value $ 2.00us-gaap_CommonStockParOrStatedValuePerShare $ 2.00us-gaap_CommonStockParOrStatedValuePerShare
Common stock, shares authorized 50,000,000us-gaap_CommonStockSharesAuthorized 50,000,000us-gaap_CommonStockSharesAuthorized
Common stock, shares issued 22,878,654us-gaap_CommonStockSharesIssued 22,878,654us-gaap_CommonStockSharesIssued
Common stock, shares outstanding 22,878,654us-gaap_CommonStockSharesOutstanding 22,878,654us-gaap_CommonStockSharesOutstanding

Consolidated Statements Of Changes In Stockholders' Equity
v5.12.132.0
Consolidated Statements Of Changes In Stockholders' Equity (USD $)
In Thousands, except Share data
Common Stock [Member]
Common Stock Warrants [Member]
Additional Paid-In Capital [Member]
Retained Earnings (Deficit) [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Total
Balance at Dec. 31, 2013 $ 43,745us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
$ 2,050us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= cik0001163389_CommonStockWarrantsMember
$ 13,050us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
$ (17,925)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
$ (960)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
$ 39,960us-gaap_StockholdersEquity
Balance, Shares at Dec. 31, 2013 21,872,000us-gaap_CommonStockSharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
         
NET INCOME       (229)us-gaap_NetIncomeLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
  (229)us-gaap_NetIncomeLoss
Other comprehensive income, net of tax         502us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
502us-gaap_OtherComprehensiveIncomeLossNetOfTax
Balance at Jun. 30, 2014 43,745us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
2,050us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= cik0001163389_CommonStockWarrantsMember
13,050us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
(18,154)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(458)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
40,233us-gaap_StockholdersEquity
Balance, Shares at Jun. 30, 2014 21,872,000us-gaap_CommonStockSharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
         
Balance at Dec. 31, 2014 45,757us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
1,176us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= cik0001163389_CommonStockWarrantsMember
13,672us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
(17,685)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(69)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
42,851us-gaap_StockholdersEquity
Balance, Shares at Dec. 31, 2014 22,878,000us-gaap_CommonStockSharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
        22,878,654us-gaap_CommonStockSharesOutstanding
NET INCOME       1,084us-gaap_NetIncomeLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
  1,084us-gaap_NetIncomeLoss
Other comprehensive income, net of tax         (199)us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
(199)us-gaap_OtherComprehensiveIncomeLossNetOfTax
Balance at Jun. 30, 2015 $ 45,757us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
$ 1,176us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= cik0001163389_CommonStockWarrantsMember
$ 13,672us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
$ (16,601)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
$ (268)us-gaap_StockholdersEquity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
$ 43,736us-gaap_StockholdersEquity
Balance, Shares at Jun. 30, 2015 22,878,000us-gaap_CommonStockSharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
        22,878,654us-gaap_CommonStockSharesOutstanding

Consolidated Statements Of Cash Flows
v5.12.132.0
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended 18 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 1,084us-gaap_NetIncomeLoss $ (229)us-gaap_NetIncomeLoss $ (229)us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 1,055us-gaap_Depreciation 1,124us-gaap_Depreciation  
Provision for loan losses        
Income (less expenses) on life insurance (134)cik0001163389_IncomeLessExpensesOnBankOwnedLifeInsurance (101)cik0001163389_IncomeLessExpensesOnBankOwnedLifeInsurance  
Gain on sale of securities available-for-sale (35)us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments (4)us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments  
(Gain) loss on sale of premises and equipment (66)us-gaap_GainLossOnSaleOfPropertyPlantEquipment (40)us-gaap_GainLossOnSaleOfPropertyPlantEquipment  
Loss on sale of foreclosed real estate (15)us-gaap_GainsLossesOnSalesOfOtherRealEstate 117us-gaap_GainsLossesOnSalesOfOtherRealEstate  
Adjustment of carrying value of foreclosed real estate 639us-gaap_ImpairmentOfRealEstate 930us-gaap_ImpairmentOfRealEstate  
Accretion of bond premiums/discounts 573us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 497us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments  
Amortization of core deposit intangible   8us-gaap_AmortizationOfIntangibleAssets  
Net change in:      
Interest receivable 104us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet 254us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet  
Other assets (26)us-gaap_IncreaseDecreaseInOtherOperatingAssets (478)us-gaap_IncreaseDecreaseInOtherOperatingAssets  
Accrued interest payable 56us-gaap_IncreaseDecreaseInInterestPayableNet 200us-gaap_IncreaseDecreaseInInterestPayableNet  
Accrued expenses and other liabilities (56)us-gaap_IncreaseDecreaseInOtherAccruedLiabilities 346us-gaap_IncreaseDecreaseInOtherAccruedLiabilities  
Net Cash Provided by Operating Activities 3,179us-gaap_NetCashProvidedByUsedInOperatingActivities 2,624us-gaap_NetCashProvidedByUsedInOperatingActivities  
CASH FLOWS FROM INVESTING ACTIVITIES      
Net decrease in loans 10,865cik0001163389_IncreaseDecreaseInLoans 16,028cik0001163389_IncreaseDecreaseInLoans  
Proceeds from sale of loans   2,905us-gaap_ProceedsFromSaleOfLoansHeldForSale  
Purchase of securities available-for-sale (25,202)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (25,109)us-gaap_PaymentsToAcquireAvailableForSaleSecurities  
Proceeds from sale and maturities of securities available-for-sale 16,690us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities 18,671us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities  
Sale of Federal Home Loan Bank stock 30us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock 247us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock  
Purchase of Federal Reserve Bank stock (37)us-gaap_PaymentsToAcquireFederalReserveStock    
Payments for the purchase of premises and equipment (723)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (1,167)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment  
Payments for the purchase of other real estate owned (5)us-gaap_PaymentsToAcquireRealEstate    
Proceeds from sales of premises and equipment 179us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 410us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment  
Proceeds from insurance on other real estate owned 53us-gaap_ProceedsFromInsuranceSettlementInvestingActivities    
Proceeds from sales of other real estate owned 760us-gaap_ProceedsFromSaleOfOtherRealEstate 1,365us-gaap_ProceedsFromSaleOfOtherRealEstate  
Net Cash Provided by Investing Activities 2,610us-gaap_NetCashProvidedByUsedInInvestingActivities 13,350us-gaap_NetCashProvidedByUsedInInvestingActivities  
CASH FLOWS FROM FINANCING ACTIVITIES      
Repayments to Federal Home Loan Bank (600)us-gaap_RepaymentsOfFederalHomeLoanBankBorrowings (600)us-gaap_RepaymentsOfFederalHomeLoanBankBorrowings  
Net change in:      
Demand deposits 7,964us-gaap_IncreaseDecreaseInDemandDeposits 6,405us-gaap_IncreaseDecreaseInDemandDeposits  
Savings deposits 7,512us-gaap_IncreaseDecreaseInSavingsDeposits 8,250us-gaap_IncreaseDecreaseInSavingsDeposits  
Time deposits (24,071)us-gaap_IncreaseDecreaseInTimeDeposits (16,769)us-gaap_IncreaseDecreaseInTimeDeposits  
Net Cash Used in Financing Activities (9,195)us-gaap_NetCashProvidedByUsedInFinancingActivities (2,714)us-gaap_NetCashProvidedByUsedInFinancingActivities  
Net increase in cash and cash equivalents (3,406)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 13,260us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease  
Cash and Cash Equivalents, Beginning of Period 35,560us-gaap_CashAndCashEquivalentsAtCarryingValue 54,680us-gaap_CashAndCashEquivalentsAtCarryingValue 54,680us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and Cash Equivalents, End of Period 32,154us-gaap_CashAndCashEquivalentsAtCarryingValue 67,940us-gaap_CashAndCashEquivalentsAtCarryingValue 32,154us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental Disclosure of Cash Paid During the Period for:      
Interest 1,611us-gaap_InterestPaid 1,877us-gaap_InterestPaid  
Taxes        
Supplemental Disclosure of Non Cash Transactions:      
Other real estate acquired in settlement of foreclosed loans 1,869cik0001163389_OtherRealEstateAcquiredInSettlementOfForeclosedLoans 1,515cik0001163389_OtherRealEstateAcquiredInSettlementOfForeclosedLoans  
Loans made to finance sale of foreclosed real estate $ 148cik0001163389_LoansMadeToFinanceSaleOfForeclosedRealEstate $ 575cik0001163389_LoansMadeToFinanceSaleOfForeclosedRealEstate  

Nature Of Operations
v5.12.132.0
Nature Of Operations
6 Months Ended
Jun. 30, 2015
Nature Of Operations [Abstract]  
Nature Of Operations

NOTE 1  NATURE OF OPERATIONS:

 

New Peoples Bankshares, Inc. (“The Company”) is a bank holding company whose principal activity is the ownership and management of a community bank.  New Peoples Bank, Inc. (“Bank”) was organized and incorporated under the laws of the Commonwealth of Virginia on December 9, 1997.  The Bank commenced operations on October 28, 1998, after receiving regulatory approval.  As a state-chartered member bank, the Bank is subject to regulation by the Virginia Bureau of Financial Institutions, the Federal Deposit Insurance Corporation and the Federal Reserve Bank.  The Bank provides general banking services to individuals, small and medium size businesses and the professional community of southwestern Virginia, southern West Virginia, and eastern Tennessee.  On June 9, 2003, the Company formed two wholly-owned subsidiaries;  NPB Financial Services, Inc. and NPB Web Services, Inc.  On July 7, 2004 the Company established NPB Capital Trust I for the purpose of issuing trust preferred securities.  On September 27, 2006, the Company established NPB Capital Trust 2 for the purpose of issuing additional trust preferred securities.  NPB Financial Services, Inc. was a subsidiary of the Company until January 1, 2009 when it became a subsidiary of the Bank.  In June 2012 the name of NPB Financial Services, Inc. was changed to NPB Insurance Services, Inc. which operates solely as an insurance agency.    


Accounting Principles
v5.12.132.0
Accounting Principles
6 Months Ended
Jun. 30, 2015
Accounting Principles [Abstract]  
Accounting Principles

NOTE 2  ACCOUNTING PRINCIPLES:

 

These consolidated financial statements conform to U. S. generally accepted accounting principles and to general industry practices.  In the opinion of management, the accompanying consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the Company’s financial position at June 30, 2015 and December 31, 2014, and the results of operations for the three and six month periods ended June 30, 2015 and 2014.  The notes included herein should be read in conjunction with the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.  The results of operations for the three and six month periods ended June 30, 2015 and 2014 are not necessarily indicative of the results to be expected for the full year.

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.  The determination of the adequacy of the allowance for loan losses and the determination of the deferred tax asset and related valuation allowance are based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions.


Formal Written Agreement
v5.12.132.0
Formal Written Agreement
6 Months Ended
Jun. 30, 2015
Formal Written Agreement [Abstract]  
Formal Written Agreement

NOTE 3  FORMAL WRITTEN AGREEMENT:

Effective July 29, 2010, the Company and the Bank entered into a written agreement (the “Written Agreement”) with the Federal Reserve Bank of Richmond (“Reserve Bank”) and the Virginia State Corporation Commission Bureau of Financial Institutions (the “Bureau”).  At June 30, 2015, we believe we have not yet achieved full compliance with the Written Agreement but we have made progress in our compliance efforts under the Written Agreement and all of the written plans required to date, as discussed in the following paragraphs, have been submitted on a timely basis. 

 

Under the terms of the Written Agreement, the Bank agreed to develop and submit for approval within specified  time periods written plans to: (a) strengthen board oversight of management and the Bank’s operation; (b) if appropriate after review, to strengthen the Bank’s management and board governance; (c) strengthen credit risk management policies; (d) enhance lending and credit administration; (e) enhance the Bank’s management of commercial real estate concentrations; (f) conduct ongoing review and grading of the Bank’s loan portfolio; (g) improve the Bank’s position with respect to loans, relationships, or other assets in excess of $1 million which are now or in the future become past due more than 90 days, which are on the Bank’s problem loan list, or which are adversely classified in any report of examination of the Bank; (h) review and revise, as appropriate, current policy and maintain sound processes for maintaining an adequate allowance for loan and lease losses; (i) enhance management of the Bank’s liquidity position and funds management practices; (j) revise its contingency funding plan; (k)  revise its strategic plan; and (l)  enhance the Bank’s anti-money laundering and related activities. 

In addition, the Bank agreed that it will: (a) not extend, renew, or restructure any credit that has been criticized by the Reserve Bank or the Bureau absent prior board of directors approval in accordance with the restrictions in the Written Agreement; (b) eliminate all assets or portions of assets classified as “loss” and thereafter charge off all assets classified as “loss” in a federal or state report of examination, unless otherwise approved by the Reserve Bank.

Under the terms of the Written Agreement, both the Company and the Bank agreed to submit capital plans to maintain sufficient capital at the Company, on a consolidated basis, and the Bank, on a stand-alone basis, and to refrain from declaring or paying dividends without prior regulatory approval. The Company agreed that it will not take any other form of payment representing a reduction in the Bank’s capital or make any distributions of interest, principal, or other sums on subordinated debentures or trust preferred securities without prior regulatory approval. The Company may not incur, increase or guarantee any debt without prior regulatory approval and has agreed not to purchase or redeem any shares of its stock without prior regulatory approval.

 

Under the terms of the Written Agreement, the Company and the Bank appointed a committee to monitor compliance with the Written Agreement. The directors of the Company and the Bank recognized and unanimously agree with the common goal of financial soundness represented by the Written Agreement and have confirmed the intent of the directors and executive management to diligently seek to comply with all requirements of the Written Agreement.


Capital
v5.12.132.0
Capital
6 Months Ended
Jun. 30, 2015
Capital [Abstract]  
Capital

NOTE 4  CAPITAL:

 

Capital Requirements and Ratios

 

The Company and the Bank are subject to various capital requirements administered by federal banking agencies.  Failure to meet minimum capital requirements can initiate certain mandatory and, possibly, additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s financial statements.  Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices.  The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors.  Prompt corrective action provisions are not applicable to bank holding companies.

 

Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the following table) of total and Tier 1 capital (as defined) to risk-weighted assets (as defined), Tier 1 capital (as defined) to average assets (as defined), and Common Equity Tier 1 capital (as defined) to risk-weighted assets (as defined).  Management believes that, as of June 30, 2015, the Company and the Bank meet all capital adequacy requirements to which they are subject.    The Company’s and the Bank’s actual capital amounts and ratios are presented in the following table as of June 30, 2015 and December 31, 2014, respectively.  The June 30, 2015 ratios comply with Federal Reserve rules to align with the Basel III Capital requirements effective January 1, 2015.

 

 

 

 

 

 

 

 

 

 

 

 

Actual

Minimum Capital Requirement

Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions

(Dollars are in thousands)

Amount

Ratio

Amount

Ratio

 

Amount

Ratio

June 30, 2015:

Total Capital to Risk Weighted Assets:

The Company

$

64,121 
16.84% 

$  30,452

8.0% 

$

N/A

N/A

The Bank

 

63,948 
16.79% 
30,476 
8.0% 

 

38,095 
10.0% 

Tier 1 Capital to Risk Weighted Assets:

The Company

 

57,981 
15.23% 
22,839 
6.0% 

 

N/A

N/A

The Bank

 

59,137 
15.52% 
22,857 
6.0% 

 

30,476 
8.0% 

Tier 1 Capital to Average Assets:

The Company

 

57,981 
8.84% 
26,223 
4.0% 

 

N/A

N/A

The Bank

 

59,137 
9.01% 
26,245 
4.0% 

 

32,806 
5.0% 

Common Equity Tier 1 Capital

     to Risk Weighted Assets:

The Company

 

43,313 
11.38% 
17,130 
4.5% 

 

N/A

N/A

The Bank

 

59,137 
15.52% 
17,143 
4.5% 

 

24,762 
6.5% 

 

 

December 31, 2014:

Total Capital to Risk Weighted Assets:

The Company

$

59,816 
15.98% 
$
29,948 
8.0% 

$

N/A

N/A

The Bank

 

58,869 
15.73% 
29,938 
8.0% 

 

37,422 
10.0% 

Tier 1 Capital to Risk Weighted Assets:

The Company

 

53,379 
14.26% 
14,974 
4.0% 

 

N/A

N/A

The Bank

 

54,127 
14.46% 
14,969 
4.0% 

 

22,453 
6.0% 

Tier 1 Capital to Average Assets:

The Company

 

53,379 
8.07% 
26,453 
4.0% 

 

N/A

N/A

The Bank

 

54,127 
8.19% 
26,447 
4.0% 

 

33,058 
5.0% 

 

As of June 30, 2015, the Bank was well capitalized under the regulatory framework for prompt corrective action.  To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based, Tier 1 leverage, and Common Equity Tier 1 ratios as set forth in the above tables.  There are no conditions or events since the notification that management believes have changed the Company’s and Bank’s category.    

 


Investment Securities
v5.12.132.0
Investment Securities
6 Months Ended
Jun. 30, 2015
Investment Securities [Abstract]  
Investment Securities

NOTE 5  INVESTMENT SECURITIES:

 

The amortized cost and estimated fair value of securities (all available-for-sale (“AFS”)) are as follows:

 

 

 

 

 

 

 

 

 

 

 

Gross

 

Gross

 

Approximate

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

(Dollars are in thousands)

Cost

 

Gains

 

Losses

 

Value

June 30, 2015

U.S. Government Agencies

$

44,172 

$

298 

$

284 

$

44,186 

Taxable municipals

3,367 

-

80 
3,287 

Corporate bonds

941 
15 

-

956 

Mortgage backed securities

59,668 
102 
458 
59,312 

Total Securities AFS

$

108,148 

$

415 

$

822 

$

107,741 

 

December 31, 2014

U.S. Government Agencies

$

43,985 

$

332 

$

247 

$

44,070 

Taxable municipals

293 

-

288 

Corporate bonds

-

-

-

-

Mortgage backed securities

55,896 
144 
329 
55,711 

Total Securities AFS

$

100,174 

$

476 

$

581 

$

100,069 

 

The following table details unrealized losses and related fair values in the available-for-sale portfolio.  This information is aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of June 30, 2015 and December 31, 2014.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 Months

 

12 Months or More

 

Total

 

 

(Dollars are in thousands)

 

Fair Value

 

Unrealized

Losses

 

Fair

Value

 

Unrealized

Losses

 

Fair

Value

 

Unrealized

Losses

 

June 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government Agencies

$

10,476 

$

103 

$

8,374 

$

181 

$

18,850 

$

284 

 

Taxable municipals

 

2,167 

 

80 

 

-

 

-

 

2,167 

 

80 

 

Corporate bonds

 

-

 

-

 

-

 

-

 

-

 

-

 

Mtg. backed securities

 

32,440 

 

286 

 

8,345 

 

172 

 

40,785 

 

458 

 

Total Securities AFS

$

45,083 

$

469 

$

16,719 

$

353 

$

61,802 

$

822 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government Agencies

$

7,408 

$

38 

$

12,965 

$

209 

$

20,373 

$

247 

 

Taxable municipals

 

288 

 

 

-

 

-

 

288 

 

 

Mtg. backed securities

 

21,083 

 

179 

 

11,622 

 

150 

 

32,705 

 

329 

 

Total Securities AFS

$

28,779 

$

222 

$

24,587 

$

359 

$

53,366 

$

581 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At June 30, 2015, the available-for-sale portfolio included one hundred seven investments for which the fair market value was less than amortized cost.  At December 31, 2014, the available-for-sale portfolio included eighty four investments for which the fair market value was less than amortized cost.  Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation.  Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial conditions and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value.  Based on the Company’s analysis, the Company concluded that no securities had an other-than-temporary impairment.

 

The amortized cost and fair value of investment securities at June 30, 2015, by contractual maturity, are shown in the following schedule.  Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

 

 

 

 

 

 

 

 

Weighted

(Dollars are in thousands)

Amortized

 

Fair

 

Average

Securities Available-for-Sale

Cost

 

Value

 

Yield

Due in one year or less

$

125 

$

125 

 

1.13% 

Due after one year through five years

3,454 
3,467 
1.27% 

Due after five years through fifteen years

 

13,206 

 

13,142 

 

1.60% 

Due after fifteen years

 

91,363 

 

91,007 

 

1.92% 

Total

$

108,148 

$

107,741 

 

1.86% 

Investment securities with a carrying value of $15.4 million and $17.5 million at June 30, 2015 and December 31, 2014, were pledged as collateral to secure public deposits, overnight payment processing and for other purposes required by law.

 

The Bank, as a member of the Federal Reserve Bank and the Federal Home Loan Bank, is required to hold stock in each. These equity securities are restricted from trading and are recorded at a cost of $2.4 million and $2.4 million as of June 30, 2015 and December 31, 2014, respectively.


Loans
v5.12.132.0
Loans
6 Months Ended
Jun. 30, 2015
Loans [Abstract]  
Loans

NOTE 6  LOANS:

 

Loans receivable outstanding are summarized as follows:

 

 

 

 

 

 

(Dollars are in thousands)

 

June 30, 2015

 

December 31, 2014

Real estate secured:

 

 

 

 

Commercial

$

103,516 

$

108,062 

Construction and land development

 

13,404 

 

15,439 

Residential 1-4 family

 

239,581 

 

243,538 

Multifamily

 

13,755 

 

14,409 

Farmland

 

22,064 

 

25,252 

Total real estate loans

 

392,320 

 

406,700 

Commercial

 

22,182 

 

21,807 

Agriculture

 

4,127 

 

3,117 

Consumer installment loans

 

25,070 

 

25,828 

All other loans

 

76 

 

97 

Total loans

$

443,775 

$

457,549 

 

Loans receivable on nonaccrual status are summarized as follows:

 

 

 

 

 

 

 

 

 

 

 

(Dollars are in thousands)

 

June 30, 2015

 

December 31, 2014

Real estate secured:

 

 

 

 

Commercial

$

4,944 

$

6,222 

Construction and land development

 

515 

 

332 

Residential 1-4 family

 

7,293 

 

8,589 

Multifamily

 

434 

 

118 

Farmland

 

3,554 

 

5,982 

Total real estate loans

 

16,740 

 

21,243 

Commercial

 

212 

 

554 

Agriculture

 

14 

 

18 

Consumer installment loans

 

50 

 

46 

All other loans

 

-

 

-

Total loans receivable on nonaccrual status

$

17,016 

$

21,861 

 

Total interest income not recognized on nonaccrual loans for the six months ended June 30, 2015 and 2014 was $238 thousand and $273 thousand, respectively.

 

 

 

The following table presents information concerning the Company’s investment in loans considered impaired as of June 30, 2015 and December 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of June 30, 2015

(Dollars are in thousands)

 

 

Average

Recorded

Investment

 

 

Interest

Income

Recognized

 

 

 

Recorded

Investment

 

 

 

 

Unpaid Principal Balance

 

 

 

Related

Allowance

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

Real estate secured:

 

 

 

 

 

 

 

 

 

 

Commercial

$

4,381 

$

59 

$

4,514 

$

5,937 

$

-

Construction and land development

 

14 

 

-

 

12 

 

12 

 

-

Residential 1-4 family

 

3,600 

 

93 

 

3,654 

 

3,820 

 

-

Multifamily

 

580 

 

 

435 

 

476 

 

-

Farmland

 

5,484 

 

52 

 

4,993 

 

5,861 

 

-

Commercial

 

444 

 

 

210 

 

210 

 

-

Agriculture

 

47 

 

 

36 

 

36 

 

-

Consumer installment loans

 

29 

 

 

60 

 

60 

 

-

All other loans

 

-

 

-

 

-

 

-

 

-

With an allowance recorded:

 

 

 

 

 

 

 

 

 

 

Real estate secured:

 

 

 

 

 

 

 

 

 

 

Commercial

 

3,384 

 

40 

 

2,801 

 

3,137 

 

889 

Construction and land development

 

391 

 

-

 

413 

 

663 

 

237 

Residential 1-4 family

 

2,340 

 

53 

 

2,168 

 

2,378 

 

200 

Multifamily

 

38 

 

-

 

-

 

-

 

-

Farmland

 

998 

 

19 

 

787 

 

792 

 

355 

Commercial

 

86 

 

 

92 

 

92 

 

46 

Agriculture

 

27 

 

 

24 

 

24 

 

24 

Consumer installment loans

 

17 

 

-

 

-

 

-

 

-

All other loans

 

-

 

-

 

-

 

-

 

-

Total

$

21,860 

$

329 

$

20,199 

$

23,498 

$

1,751 

 

 

As of December 31, 2014

(Dollars are in thousands)

 

 

Average

Recorded

Investment

 

 

Interest

Income

Recognized

 

 

 

Recorded

Investment

 

 

Unpaid Principal Balance

 

 

 

Related

Allowance

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

Real estate secured:

 

 

 

 

 

 

 

 

 

 

Commercial

$

9,628 

$

128 

$

3,986 

$

5,166 

$

-

Construction and land development

 

248 

 

 

15 

 

15 

 

-

Residential 1-4 family

 

2,959 

 

177 

 

3,245 

 

3,471 

 

-

Multifamily

 

370 

 

26 

 

438 

 

479 

 

-

Farmland

 

5,383 

 

114 

 

5,767 

 

6,801 

 

-

Commercial

 

421 

 

-

 

548 

 

674 

 

-

Agriculture

 

62 

 

 

52 

 

52 

 

-

Consumer installment loans

 

12 

 

 

15 

 

15 

 

-

All other loans

 

-

 

-

 

-

 

-

 

-

With an allowance recorded:

 

 

 

 

 

 

 

 

 

 

Real estate secured:

 

 

 

 

 

 

 

 

 

 

Commercial

 

6,338 

 

132 

 

4,517 

 

4,905 

 

1,482 

Construction and land development

 

505 

 

14 

 

303 

 

355 

 

88 

Residential 1-4 family

 

4,248 

 

126 

 

2,573 

 

2,852 

 

347 

Multifamily

 

268 

 

 

113 

 

113 

 

15 

Farmland

 

2,573 

 

59 

 

1,104 

 

1,116 

 

343 

Commercial

 

407 

 

 

74 

 

74 

 

26 

Agriculture

 

39 

 

 

30 

 

30 

 

30 

Consumer installment loans

 

10 

 

-

 

-

 

-

 

-

All other loans

 

-

 

-

 

-

 

-

 

-

Total

$

33,471 

$

795 

$

22,780 

$

26,118 

$

2,331 

 

 

An age analysis of past due loans receivable was as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of June 30, 2015

(Dollars are in thousands)

 

 

 

Loans

30-59

Days

Past

Due

 

 

 

Loans

60-89

Days

Past

Due

 

 

Loans

90 or

More

Days

Past

Due

 

 

 

 

Total

Past

Due

Loans

 

 

 

 

 

 

Current

Loans

 

 

 

 

 

 

Total

Loans

 

Accruing

Loans

90 or

More

Days

Past

Due

Real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

$

528 

$

150 

$

2,992 

$

3,670 

$

99,846 

$

103,516 

$

-

Construction and  land

  development

 

101 

 

124 

 

-

 

225 

 

13,179 

 

13,404 

 

-

Residential 1-4 family

 

5,774 

 

2,557 

 

1,044 

 

9,375 

 

230,206 

 

239,581 

 

-

Multifamily

 

629 

 

-

 

320 

 

949 

 

12,806 

 

13,755 

 

-

Farmland

 

170 

 

24 

 

-

 

194 

 

21,870 

 

22,064 

 

-

Total real estate loans

 

7,202 

 

2,855 

 

4,356 

 

14,413 

 

377,907 

 

392,320 

 

-

Commercial

 

64 

 

13 

 

211 

 

288 

 

21,894 

 

22,182 

 

-

Agriculture

 

 

-

 

-

 

 

4,124 

 

4,127 

 

-

Consumer installment

  Loans

 

93 

 

30 

 

37 

 

160 

 

24,910 

 

25,070 

 

-

All other loans

 

10 

 

-

 

-

 

10 

 

66 

 

76 

 

-

Total loans

$

7,372 

$

2,898 

$

4,604 

$

14,874 

$

428,901 

$

443,775 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2014

(Dollars are in thousands)

 

 

 

Loans

30-59

Days

Past

Due

 

 

 

Loans

60-89

Days

Past

Due

 

 

Loans

90 or

More

Days

Past

Due

 

 

 

 

Total

Past

Due

Loans

 

 

 

 

 

 

Current

Loans

 

 

 

 

 

 

Total

Loans

 

Accruing

Loans

90 or

More

Days

Past

Due

Real estate secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

$

2,683 

$

74 

$

2,411 

$

5,168 

$

102,894 

$

108,062 

$

-

Construction and  land

  development

 

94 

 

335 

 

12 

 

441 

 

14,998 

 

15,439 

 

-

Residential 1-4 family

 

7,885 

 

1,728 

 

2,346 

 

11,959 

 

231,579 

 

243,538 

 

-

Multifamily

 

320 

 

-

 

-

 

320 

 

14,089 

 

14,409 

 

-

Farmland

 

661 

 

453 

 

-

 

1,114 

 

24,138