The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2013:
| Number of loans |
Pre- Modification Outstanding Recorded Investment |
Post- Modification Recorded Investment |
||||||||||
| (Dollars in thousands) | ||||||||||||
|
Real Estate Loans |
||||||||||||
|
Permanent |
||||||||||||
|
One-to four-family |
42 | $ | 3,568 | $ | 3,381 | |||||||
|
Multifamily residential |
1 | 469 | 469 | |||||||||
|
Nonresidential |
1 | 41 | 41 | |||||||||
|
Land |
2 | 2,127 | 487 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total |
46 | 6,205 | 4,378 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Construction Loans |
||||||||||||
|
One-to four-family residential |
1 | 942 | 823 | |||||||||
|
Multifamily and nonresidential |
— | — | — | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total |
1 | 942 | 823 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Consumer Loans |
||||||||||||
|
Home Equity |
110 | 4,556 | 4,487 | |||||||||
|
Auto |
— | — | — | |||||||||
|
Marine |
— | — | — | |||||||||
|
Recreational vehicle |
4 | 791 | 804 | |||||||||
|
Other |
— | — | — | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total |
114 | 5,347 | 5,291 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Commercial Loans |
||||||||||||
|
Secured |
— | — | — | |||||||||
|
Unsecured |
— | — | — | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total |
— | — | — | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total Restructured Loans |
161 | $ | 12,494 | $ | 10,492 | |||||||
|
|
|
|
|
|
|
|||||||
The troubled debt restructurings described above increased the allowance for loan losses by $951,000, and resulted in $1.8 million charge-offs during the twelve months ended December 31, 2013.
The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2012:
| Number of loans |
Pre- Modification Outstanding Recorded Investment |
Post- Modification Recorded Investment |
||||||||||
| (Dollars in thousands) | ||||||||||||
|
Real Estate Loans |
||||||||||||
|
Permanent |
||||||||||||
|
One-to four-family |
114 | $ | 6,618 | $ | 5,574 | |||||||
|
Multifamily residential |
6 | 1,439 | 1,438 | |||||||||
|
Nonresidential |
1 | 424 | 424 | |||||||||
|
Land |
— | — | — | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total |
121 | 8,481 | 7,436 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Construction Loans |
||||||||||||
|
One-to four-family residential |
3 | 853 | 830 | |||||||||
|
Multifamily and nonresidential |
— | — | — | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total |
3 | 853 | 830 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Consumer Loans |
||||||||||||
|
Home Equity |
86 | 6,951 | 7,033 | |||||||||
|
Auto |
— | — | — | |||||||||
|
Marine |
— | — | — | |||||||||
|
Recreational vehicle |
— | — | — | |||||||||
|
Other |
— | — | — | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total |
86 | 6,951 | 7,033 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Commercial Loans |
||||||||||||
|
Secured |
— | — | — | |||||||||
|
Unsecured |
1 | 446 | 446 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total |
1 | 446 | 446 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total Restructured Loans |
211 | $ | 16,731 | $ | 15,745 | |||||||
|
|
|
|
|
|
|
|||||||