The Company reclassified, at fair value, approximately $16.4 million in available-for-sale mortgage-backed securities to the held-to-maturity category during the third quarter of 2012. No gains or losses were recognized at the time of reclassification. At September 30, 2012, mortgage-backed securities held-to-maturity, at amortized cost, were $15.8 million. Additionally, the Company purchased $9.8 million of tax-exempt municipal bonds, which are also classified as held-to-maturity. At September 30, 2012, total investment securities held-to-maturity were $25.6 million, compared to no investment securities held-to-maturity at September 30, 2011 and June 30, 2012.Loans, excluding loans held-for-sale, totaled $799.4 million at September 30, 2012, an increase of 3% from $776.7 million at September 30, 2011, and remained relatively flat from $798.1 million at June 30, 2012. The loan portfolio remains well-diversified with commercial and industrial (“C&I”) loans accounting for 47% of the portfolio at September 30, 2012. Commercial and residential real estate loans accounted for 42% of the total loan portfolio, of which 52% were owner-occupied by businesses. Consumer and home equity loans accounted for 8% of total loans, and land and construction loans accounted for the remaining 3% of total loans at September 30, 2012.
|Balance||% of Total|
|Commercial real estate loans||$||5,564||25||%|
|Commercial and industrial loans||5,310||24||%|
|Land and construction loans||2,259||10||%|
|Restructured and loans over 90 days past due and accruing||1,722||8||%|
|Home equity and consumer loans||846||4||%|