SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

þ		QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

o		TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 0-14773

NATIONAL BANCSHARES CORPORATION

exact name of registrant as specified in its charter

Ohio		34-1518564
State of incorporation		IRS Employer Identification No.

112 West Market Street, Orrville, Ohio 44667
Address of principal executive offices

Registrant’s telephone number: (330) 682-1010

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

     Yes þ No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files.)

     Yes þ No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company as defined in Rule 12b-2 of the Exchange Act. See definition of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in rule 12b-2 of the Exchange Act.

Large accelerated filer o		Accelerated filer o		Non-accelerated filer o (Do not check if a smaller reporting company)		Smaller reporting company þ

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)

     Yes o No þ

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of August 10, 2011.

Common Stock, Without Par Value: 2,213,269 shares Outstanding

 

 

NATIONAL BANCSHARES CORPORATION

Index

		Page
		Number
Part I. Financial Information
Item 1. Financial Statements (Unaudited)
Consolidated Balance Sheets as of June 30, 2011 and December 31, 2010			2
Consolidated Statements of Income and Comprehensive Income for the three and six months ended June 30, 2011 and 2010			3
Condensed Consolidated Statement of Changes in Shareholders’ Equity for the six months ended June 30, 2011 and 2010			5
Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2011 and 2010			6
Notes to Consolidated Financial Statements (Unaudited)			7 - 20
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			20 - 26
Item 3. Quantitative and Qualitative Disclosures About Market Risk			26 - 27
Item 4T. Controls and Procedures			27
Part II. Other Information
Item 1. Legal Proceedings — None			28
Item 1A. Risk Factors			28
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds — None			28
Item 3. Defaults Upon Senior Securities — None			28
Item 4. Removed and Reserved			—
Item 5. Other Information — None			28
Item 6. Exhibits			28
Signatures			29
Exhibits			30 - 32
EX-31.1
EX-31.2
EX-32
EX-101 INSTANCE DOCUMENT
EX-101 SCHEMA DOCUMENT
EX-101 CALCULATION LINKBASE DOCUMENT
EX-101 LABELS LINKBASE DOCUMENT
EX-101 PRESENTATION LINKBASE DOCUMENT
EX-101 DEFINITION LINKBASE DOCUMENT

Item 1. Financial Statements

NATIONAL BANCSHARES CORPORATION

CONSOLIDATED BALANCE SHEETS (Unaudited)

		June 30,				December 31,
(dollars in thousands)		2011				2010
ASSETS
Cash and due from banks		$	31,694			$	12,837
Time deposits with other financial institutions			1,232				5,697
Securities available for sale			135,926				138,033
Restricted equity securities			3,220				3,219
Loans, net of allowance for loan losses:
June 30, 2011 — $2,881; December 31, 2010 — $2,585			203,255				190,685
Premises and equipment, net			12,357				12,526
Goodwill			4,723				4,723
Identified intangible assets			64				107
Accrued interest receivable			1,337				1,270
Cash surrender value of life insurance			2,907				2,862
Other assets			2,072				2,137
Total assets		$	398,787			$	374,096
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits
Noninterest bearing		$	71,567			$	57,435
Interest bearing			264,961				251,699
Total deposits			336,528				309,134
Repurchase agreements			8,782				7,747
Federal Reserve Bank note account			357				724
Federal Home Loan Bank advances			9,000				15,000
Accrued interest payable			239				312
Accrued expenses and other liabilities			3,174				2,198
Total liabilities			358,080				335,115
SHAREHOLDERS’ EQUITY
Common stock, no par value; 6,000,000 shares authorized; 2,289,528 shares issued			11,447				11,447
Additional paid-in capital			4,795				4,775
Retained earnings			23,174				22,475
Treasury stock, at cost (79,811 and 83,555 shares)			(1,565	)			(1,639	)
Accumulated other comprehensive income			2,856				1,923
Total shareholders’ equity			40,707				38,981
Total liabilities and shareholders’ equity		$	398,787			$	374,096

See accompanying notes to consolidated financial statements.

NATIONAL BANCSHARES CORPORATION

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited)

		Three months ended								Six months ended
(dollars in thousands, except per share data)		June 30, 2011				June 30, 2010				June 30, 2011				June 30, 2010
Interest and dividend income
Loans, including fees		$	2,654			$	2,638			$	5,172			$	5,240
Securities:
Taxable			821				938				1,560				1,967
Nontaxable			394				293				784				564
Federal funds sold and other			23				51				51				107
Total interest and dividend income			3,892				3,920				7,567				7,878
Interest expense
Deposits			453				557				938				1,129
Short-term borrowings			10				13				21				26
Federal Home Loan Bank advances			59				249				141				510
Total interest expense			522				819				1,100				1,665
Net interest income			3,370				3,101				6,467				6,213
Provision for loan losses			150				615				297				1,122
Net interest income after provision for loan losses			3,220				2,486				6,170				5,091
Noninterest income
Checking account fees			269				272				535				534
Visa check card interchange fees			141				112				262				210
Deposit and miscellaneous service fees			80				80				155				163
Mortgage banking activities			40				50				77				101
Securities gains, net			46				—				51				76
Loss on other real estate owned			(38	)			—				(38	)			(11	)
Gain on sale of SBA loans			—				—				128				—
Other			83				98				183				164
Total noninterest income			621				612				1,353				1,237
Noninterest expense
Salaries and employee benefits			1,455				1,357				2,949				2,735
Data processing			286				256				569				497
Net occupancy			378				304				745				598
FDIC assessment			94				145				230				266
Professional and consulting fees			176				210				326				392
Franchise tax			91				87				184				177
Maintenance and repairs			58				43				135				113
Amortization of intangibles			22				23				43				45
Telephone			62				58				121				116
Marketing			60				66				120				131
Director fees and pension			60				68				120				140
Software expense			66				50				120				93
Postage and supplies			72				75				146				155
Other			268				260				486				473
Total noninterest expense			3,148				3,002				6,294				5,931
Income before income tax expense			693				96				1,229				397
Income tax expense (benefit)			104				(62	)			153				(54	)
Net income			589				158				1,076				451

(Continued)

NATIONAL BANCSHARES CORPORATION
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited)

		Three months ended								Six months ended
(Continued)		June 30, 2011				June 30, 2010				June 30, 2011				June 30, 2010
Other comprehensive income:
Unrealized appreciation in fair value of securities available for sale, net of taxes of $(306), $(193), $(498) and $(524)			595				325				967				1,017
Reclassification adjustment for realized gains included in earnings, net of taxes of $16, $0, $17 and $26			(30	)			—				(34	)			(50	)
Total other comprehensive income, net of taxes			565				325				933				967
Comprehensive income		$	1,154			$	483			$	2,009			$	1,418
Weighted average basic and diluted common shares outstanding			2,209,717				2,205,973				2,209,717				2,205,973
Basic and diluted earnings per common share		$	0.27			$	0.07			$	0.49			$	0.20
Dividends declared per common share		$	0.08			$	0.08			$	0.16			$	0.16

See accompanying notes to consolidated financial statements.

NATIONAL BANCSHARES CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited)

		Six months ended,
		June 30,				June 30,
(dollars in thousands, except per share data)		2011				2010
Balance at beginning of period		$	38,981			$	38,903
Comprehensive income
Net income			1,076				451
Other comprehensive income			933				967
Total comprehensive income			2,009				1,418
Stock awards issued from Treasury Shares (3,744 shares)			50				—
Compensation expense under stock-based compensation plans			20				9
Cash dividends declared ($0.16 per share in 2011 and 2010)			(353	)			(353	)
Balance at end of period		$	40,707			$	39,977

See accompanying notes to consolidated financial statements.

NATIONAL BANCSHARES CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

		Six months ended
		June 30,				June 30,
(dollars in thousands, except per share data)		2011				2010
Net cash from operating activities		$	2,739			$	1,958
Cash flows from investing activities
Proceeds from time deposits with other financial institutions			4,465				4,136
Securities available for sale
Proceeds from maturities and repayments			17,386				19,463
Proceeds from sales			2,395				1,988
Purchases			(16,821	)			(21,732	)
Purchases of property and equipment			(284	)			(2,402	)
Proceeds from the sale of other real estate owned			54				35
Proceeds from the sale of an impaired loan			—				930
Proceeds from the sale of loans guaranteed by SBA			1,841				—
Purchase of loans			—				(1,184	)
Net change in loans			(14,628	)			1,938
Net cash from investing activities			(5,592	)			3,172
Cash flows from financing activities
Net change in deposits			27,394				17,707
Net change in short-term borrowings			668				(2,633	)
Repayments of Federal Home Loan Bank advances			(6,000	)			(2,000	)
Dividends paid			(352	)			(353	)
Net cash from financing activities			21,710				12,721
Net change in cash and cash equivalents			18,857				17,851
Beginning cash and cash equivalents			12,837				8,124
Ending cash and cash equivalents		$	31,694			$	25,975
Supplemental Disclosures
Cash paid for interest		$	1,173			$	1,705
Cash paid for income taxes		$	60			$	470
Supplemental noncash disclosures:
Transfer from loans to other real estate owned		$	54			$	41
Issuance of stock awards		$	50			$	—

See accompanying notes to consolidated financial statements.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 1 — Basis of Presentation

(dollars in thousands)

Company Organization and Financial Presentation

The accompanying consolidated financial statements include the accounts of National Bancshares Corporation (the “Company”) and its wholly owned subsidiaries, First National Bank, Orrville, Ohio (the “Bank”) and NBOH Properties, LLC. The Bank has a minority interest in First Kropf Title, LLC. The Bank’s investment in First Kropf Title, LLC is immaterial to the consolidated financial statements. All significant intercompany transactions and balances have been eliminated.

The Company provides a broad range of financial services to individuals and companies in Medina, Stark, Summit and Wayne Counties, Ohio. While the Company’s chief decision makers monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all the Company’s banking operations are considered by management to be aggregated in one reportable operating segment.

The consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.

The consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q, but do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. These statements should be read in conjunction with the consolidated financial statements and footnotes in the Company’s annual report on Form 10-K for the year ended December 31, 2010. The Company believes the disclosures are adequate to make the information presented not misleading; however, the results of operations and other data presented for the periods presented are not necessarily indicative of results to be expected for the entire fiscal year.

Use of Estimates

To prepare financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. The allowance for loan losses and fair values of financial instruments are particularly subject to change.

Cash Flows

Cash and cash equivalents include cash, deposits with other banks with original maturities under 90 days, and federal funds sold. Net cash flows are reported for customer loan and deposit transactions, repurchase agreements and other short-term borrowings.

Earnings Per Common Share

Earnings per common share is net income divided by the weighted average number of shares outstanding during the period. Diluted earnings per share includes the dilutive effect of additional potential common shares issuable under stock options. 88,000 and 48,400 stock options were not considered in computing diluted earnings per common share for the three and six month periods ending June 30, 2011 and 2010, respectively, because they were antidilutive.

Adoption of New Accounting Standards

In April 2011, the FASB amended existing guidance for assisting a creditor in determining whether a restructuring is a troubled debt restructuring. The amendments clarify the guidance for a creditor’s evaluation of whether it has granted a concession and whether a debtor is experiencing financial difficulties. With regard to determining whether a concession has been granted, the ASU clarifies that creditors are precluded from using the effective interest method to determine whether a concession has been granted. In the absence of using the effective interest method, a creditor must now focus on other considerations such as the value of the underlying collateral, evaluation of other collateral or guarantees, the debtor’s ability to access other funds at market rates, interest rate increases and whether the restructuring results in a delay in payment that is insignificant. This guidance is effective for interim and annual reporting periods beginning after June 15, 2011, and should be applied retrospectively to the beginning of the annual period of adoption. For purposes of measuring impairment on newly identified troubled debt restructurings, the amendments should be applied prospectively for the first interim or annual period beginning on or after June 15, 2011.

Note 2 — Securities

(dollars in thousands)

Securities consist of the following at June 30, 2011 and December 31, 2010:

						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
June 30, 2011
U.S. Government and federal agency		$	2,689			$	28			$	—			$	2,717
State and municipal			46,329				1,527				(114	)			47,742
Corporate bonds and notes			500				9				—				509
Mortgage-backed: residential			82,057				2,878				(20	)			84,915
Equity securities			23				20				—				43
Total		$	131,598			$	4,462			$	(134	)		$	135,926
December 31, 2010
U.S. Government and federal agency		$	2,954			$	21			$	—			$	2,975
State and municipal			44,656				833				(484	)			45,005
Corporate bonds and notes			1,487				29				—				1,516
Mortgage-backed: residential			86,001				2,766				(240	)			88,527
Equity securities			23				—				(13	)			10
Total		$	135,121			$	3,649			$	(737	)		$	138,033

		For the six months ended
		June 30,				June 30,
		2011				2010
Sales of available for sale securities were as follows:
Proceeds		$	2,395			$	1,988
Gross gains			51				76
Gross losses			—				—

		For the three months ended
		June 30,				June 30,
		2011				2010
Sales of available for sale securities were as follows:
Proceeds		$	1,281			$	—
Gross gains			46				—
Gross losses			—				—

The tax provision related to net realized gains and losses for the six months ended June 30, 2011 and 2010 was $17 and $26. The tax provision related to net realized gains and losses was $16 for the three months ended June 30, 2011.

The fair value of securities at June 30, 2011 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately.

		Amortized Cost				Fair Value
Due in one year or less		$	3,709			$	3,720
Due from one to five years			5,714				5,931
Due from five to ten years			17,346				18,170
Due after ten years			22,749				23,147
Mortgage-backed: residential			82,057				84,915
Equity securities			23				43
Total		$	131,598			$	135,926

Securities pledged at June 30, 2011 and December 31, 2010 had a fair value of $65,629 and $58,827 and were pledged to secure public deposits and repurchase agreements.

At June 30, 2011 and December 31, 2010, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of shareholders’ equity.

Securities with unrealized losses at June 30, 2011 and December 31, 2010, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows:

		Less than 12 months								12 months or more								Total
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
June 30, 2011		Value				Loss				Value				Loss				Value				Loss
State and municipal		$	6,067			$	(114	)		$	—			$	—			$	6,067			$	(114	)
Mortgage-backed: residential			3,950				(20	)			—				—				3,950				(20	)
Total temporarily impaired		$	10,017			$	(134	)		$	—			$	—			$	10,017			$	(134	)

		Less than 12 months								12 months or more								Total
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
December 31, 2010		Value				Loss				Value				Loss				Value				Loss
State and municipal		$	18,125			$	(484	)		$	—			$	—			$	18,125			$	(484	)
Mortgage-backed: residential			17,067				(240	)			—				—				17,067				(240	)
Equity securities			—				—				10				(13	)			10				(13	)
Total temporarily impaired		$	35,192			$	(724	)		$	10			$	(13	)		$	35,202			$	(737	)

Management believes the unrealized losses of securities as of June 30, 2011 are the result of fluctuations in interest rates and do not reflect deterioration in the credit quality of the securities. Accordingly management considers these unrealized losses to be temporary in nature. The Company does not have the intent to sell and does not believe it is more likely than not the Company will be required to sell these securities before their recovery. The fair value of debt securities is expected to recover as the securities approach their maturity date.

Note 3 — Loans and Allowance for Loan Losses

(dollars in thousands)

The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended June 30, 2011 and 2010:

																														Three Months
																														Ended
						Commercial				Residential				Home																June 30, 2010
		Commercial				Real Estate				Real Estate				Equity				Consumer				Unallocated				Total				Total
Beginning balance		$	494			$	1,270			$	789			$	100			$	62			$	5			$	2,720			$	3,394
Provision for loan losses			115				62				9				(25	)			(8	)			(3	)			150				615
Loans charged-off			—				—				(24	)			—				(5	)			—				(29	)			(1,461	)
Recoveries			25				—				1				—				14				—				40				12
Ending balance		$	634			$	1,332			$	775			$	75			$	63			$	2			$	2,881			$	2,560

The following table presents the activity in the allowance for loan losses by portfolio segment for the six months ended June 30, 2011 and 2010:

																														Six Months
																														Ended
						Commercial				Residential				Home																June 30, 2010
		Commercial				Real Estate				Real Estate				Equity				Consumer				Unallocated				Total				Total
Beginning balance		$	460			$	1,267			$	675			$	100			$	53			$	30			$	2,585			$	2,906
Provision for loan losses			149				65				126				(26	)			11				(28	)			297				1,122
Loans charged-off			—				—				(27	)			—				(17	)			—				(44	)			(1,482	)
Recoveries			25				—				1				1				16				—				43				14
Ending balance		$	634			$	1,332			$	775			$	75			$	63			$	2			$	2,881			$	2,560

The recorded investment in loans includes the principal balance outstanding, net of unearned and deferred income and including accrued interest receivable. The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2011 and December 31, 2010:

						Commercial				Residential				Home
		Commercial				Real Estate				Real Estate				Equity				Consumer				Unallocated				Total
June 30, 2011
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment		$	101			$	183			$	235			$	—			$	—			$	—			$	519
Collectively evaluated for impairment			547				1,092				569				88				64				2				2,362
Total ending allowance balance		$	648			$	1,275			$	804			$	88			$	64			$	2			$	2,881
Recorded investment in loans:
Loans individually evaluated for impairment		$	599			$	2,677			$	1,123			$	—			$	—			$	—			$	4,399
Loans collectively evaluated for impairment			32,761				64,029				68,221				29,360				7,847				—				202,218
Total ending loans balance		$	33,360			$	66,706			$	69,344			$	29,360			$	7,847			$	—			$	206,617
December 31, 2010
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment		$	—			$	30			$	239			$	—			$	—			$	—			$	269
Collectively evaluated for impairment			460				1,237				436				100				53				30				2,316
Total ending allowance balance		$	460			$	1,267			$	675			$	100			$	53			$	30			$	2,585
Recorded investment in loans:
Loans individually evaluated for impairment		$	662			$	2,881			$	1,149			$	—			$	—			$	—			$	4,692
Loans collectively evaluated for impairment			25,539				65,035				60,609				27,914				10,049				—				189,146
Total ending loans balance		$	26,201			$	67,916			$	61,758			$	27,914			$	10,049			$	—			$	193,838

The impact on interest income of impaired loans was not significant to the consolidated statements of income.

Impaired loans are generally measured for impairment using the fair value of the collateral supporting the loan. Evaluating impaired loan collateral is based on level 3 inputs utilizing outside appraisals adjusted by management for sales costs and other assumptions regarding market conditions to arrive at fair value.

The following table presents loans individually evaluated for impairment by class of loans as of June 30, 2011 and December 31, 2010:

		Unpaid								Allowance for				Average
		Principal				Recorded				Loan Losses				Recorded
		Balance				Investment				Allocated				Investment
June 30, 2011
With no related allowance recorded:
Real estate:
Commercial and land development		$	426			$	426			$	—			$	561
One-to-four family			49				49				—				50
Real estate construction:
Commercial and land development			1,287				1,287				—				1,940
Commercial			31				31				—				45
With an allowance recorded:
Real estate:
Commercial and land development			962				962				183				965
One-to-four family			1,074				1,074				235				1,081
Real estate construction:
Commercial and land development			—				—				—				—
Commercial			568				568				101				461
		$	4,399			$	4,399			$	519			$	5,103

		Unpaid								Allowance for
		Principal				Recorded				Loan Losses
		Balance				Investment				Allocated
December 31, 2010
With no related allowance recorded:
Real estate:
Commercial and land development		$	1,258			$	1,258			$	—
One-to-four family			52				52				—
Real estate construction:
One-to-four family			1,326				1,326				—
Commercial			662				662				—
With an allowance recorded:
Real estate:
Commercial and land development			99				99				10
One-to-four family			1,097				1,097				239
Multifamily			—				—				—
Real estate construction:
Commercial and land development			198				198				20
		$	4,692			$	4,692			$	269

Nonaccrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans.

The following table presents the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of June 30, 2011 and December 31, 2010:

		June 30, 2011								December 31, 2010
						Loans Past Due								Loans Past Due
						Over 90 Days								Over 90 Days
		Nonaccrual				Still Accruing				Nonaccrual				Still Accruing
Real estate:
Commercial and land development		$	1,388			$	—			$	1,358			$	—
One-to-four family			450				41				448				360
Home equity			382				21				382				116
Real estate construction:
Commercial and land development			1,289				387				1,524				—
Commercial			599				—				661				—
Consumer:
Auto:
Indirect			—				—				—				11
		$	4,108			$	449			$	4,373			$	487

The following table presents the aging of the recorded investment in past due loans as of June 30, 2011 by class of loans:

		30 - 59				60 - 89				Greater Than
		Days				Days				90 Days				Total				Loans Not
		Past Due(1)				Past Due(2)				Past Due(3)				Past Due				Past Due(4)				Total
Real estate:
Commercial and land development		$	—			$	—			$	1,124			$	1,124			$	59,027			$	60,151
One-to-four family			742				307				442				1,491				50,084				51,575
Home equity			123				—				403				526				28,834				29,360
Multifamily			—				—				—				—				17,356				17,356
Real estate construction:
Commercial and land development			893				—				782				1,675				4,880				6,555
One-to-four family			—				—				—				—				413				413
Commercial			—				—				577				577				32,783				33,360
Consumer:
Auto:
Direct			—				—				—				—				2,193				2,193
Indirect			35				—				—				35				4,757				4,792
Other			4				—				—				4				858				862
		$	1,797			$	307			$	3,328			$	5,432			$	201,185			$	206,617

The following table presents the aging of the recorded investment in past due loans as of December 31, 2010 by class of loans:

		30 - 59				60 - 89				Greater Than
		Days				Days				90 Days				Total				Loans Not
		Past Due(1)				Past Due(2)				Past Due(3)				Past Due				Past Due(4)				Total
Real estate:
Commercial and land development		$	—			$	165			$	1,076			$	1,241			$	56,726			$	57,967
One-to-four family			769				167				784				1,720				45,394				47,114
Home equity			2				45				498				545				27,369				27,914
Multifamily			—				—				—				—				14,353				14,353
Real estate construction:
Commercial and land development			930				396				198				1,524				8,425				9,949
One-to-four family			—				—				—				—				291				291
Commercial			—				22				661				683				25,518				26,201
Consumer:
Auto:
Direct			22				—				—				22				2,453				2,475
Indirect			52				—				11				63				6,524				6,587
Other			9				—				—				9				978				987
		$	1,784			$	795			$	3,228			$	5,807			$	188,031			$	193,838