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SEC Filings

10-Q
CITIZENS HOLDING CO /MS/ filed this Form 10-Q on 11/09/2016
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The following table details the amount of gross loans (in thousands) segregated by loan grade and class, as of December 31, 2015:

 

     Satisfactory
1,2,3,4
     Special
Mention
5,6
     Substandard
7
     Doubtful
8
     Loss
9
     Total
Loans
 

Real Estate:

                 

Land Development and Construction

   $ 31,889       $ 202       $ 1,042       $ —         $ —         $ 33,133   

Farmland

     21,084         989         1,220         —           —           23,293   

1-4 Family Mortgages

     88,425         4,874         10,747         —           —           104,046   

Commercial Real Estate

     155,898         12,286         12,507         —           —           180,691   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total Real Estate Loans

     297,296         18,351         25,516         —           —           341,163   

Business Loans:

                 

Commercial and Industrial Loans

     60,918         377         130         —           —           61,425   

Farm Production and Other Farm Loans

     1,055         —           —           —           —           1,055   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total Business Loans

     61,973         377         130         —           —           62,480   

Consumer Loans:

                 

Credit Cards

     1,052         —           9         —           —           1,061   

Other Consumer Loans

     24,666         111         777         7         3         25,564   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total Consumer Loans

     25,718         111         786         7         3         26,625   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total Loans

   $ 384,987       $ 18,839       $ 26,432       $ 7       $ 3       $ 430,268   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

The allowance for loan losses is a reserve established through a provision for loan losses charged to expense, which represents management’s best estimate of probable losses within the existing portfolio of loans. The allowance, in the judgment of management, is necessary to reserve for estimated loan losses and risks inherent in the loan portfolio.

The allowance on the majority of the loan portfolio is calculated using a historical chargeoff percentage applied to the current loan balances by loan segment. This historical period is the average of the previous twenty quarters with the most current quarters weighted more heavily to show the effect of the most recent chargeoff activity. This percentage is also adjusted for economic factors such as local unemployment and general business conditions, both local and nationwide.

The group of loans that are considered to be impaired are individually evaluated for possible loss and a specific reserve is established to cover any loss contingency. Loans that are determined to be a loss with no benefit of remaining in the portfolio are charged off to the allowance. These specific reserves are reviewed periodically for continued impairment and adequacy of the specific reserve and are adjusted when necessary.

 

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