XML 21 R11.htm IDEA: XBRL DOCUMENT

Loans and Allowance for Loan Losses

6 Months Ended

Jun. 30, 2022

Note 3 - Loans and Allowance for Loan Losses

Aging and Non-Accrual Analysis

The following tables provide a summary of current, accruing past due, and non-accrual loans by portfolio class as of June 30, 2022 and December 31, 2021.


	June 30, 2022
(in thousands)	Current		Accruing 30-89 Days Past Due		Accruing 90 Days or Greater Past Due		Total Accruing Past Due		Non-accrual with an ALL		Non-accrual without an ALL		Total
Commercial, financial and agricultural	$	12,954,600	$	14,363	$	525	$	14,888	$	12,834	$	35,767	$	13,018,089
Owner-occupied	7,744,300		4,538		—		4,538		6,955		4,443		7,760,236
Total commercial and industrial	20,698,900		18,901		525		19,426		19,789		40,210		20,778,325
Investment properties	10,400,407		271		—		271		5,025		2,345		10,408,048
1-4 family properties	636,701		2,036		—		2,036		1,821		1,297		641,855
Land and development	451,590		—		—		—		1,924		—		453,514
Total commercial real estate	11,488,698		2,307		—		2,307		8,770		3,642		11,503,417
Consumer mortgages	5,092,428		9,238		—		9,238		22,857		—		5,124,523
Home equity	1,567,527		3,591		—		3,591		7,588		512		1,579,218
Credit cards	191,641		1,413		1,236		2,649		—		—		194,290
Other consumer loans	2,000,402		18,459		490		18,949		5,656		—		2,025,007
Total consumer	8,851,998		32,701		1,726		34,427		36,101		512		8,923,038
Loans, net of deferred fees and costs	$	41,039,596	$	53,909	$	2,251	$	56,160	$	64,660	$	44,364	$	41,204,780


	December 31, 2021
(in thousands)	Current		Accruing 30-89 Days Past Due		Accruing 90 Days or Greater Past Due		Total Accruing Past Due		Non-accrual with an ALL		Non-accrual without an ALL		Total
Commercial, financial and agricultural	$	12,068,740	$	13,378	$	3,953	$	17,331	$	37,918	$	23,869	$	12,147,858
Owner-occupied	7,460,184		3,627		59		3,686		7,146		4,050		7,475,066
Total commercial and industrial	19,528,924		17,005		4,012		21,017		45,064		27,919		19,622,924
Investment properties	9,894,924		1,285		717		2,002		3,273		2,577		9,902,776
1-4 family properties	639,631		1,182		93		1,275		4,535		28		645,469
Land and development	463,949		845		154		999		1,918		—		466,866
Total commercial real estate	10,998,504		3,312		964		4,276		9,726		2,605		11,015,111
Consumer mortgages	5,033,537		6,257		126		6,383		29,078		—		5,068,998
Home equity	1,349,027		2,619		—		2,619		9,773		—		1,361,419
Credit cards	201,929		1,233		1,010		2,243		—		—		204,172
Other consumer loans	2,011,430		20,369		658		21,027		6,877		—		2,039,334
Total consumer	8,595,923		30,478		1,794		32,272		45,728		—		8,673,923
Loans, net of deferred fees and costs	$	39,123,351	$	50,795	$	6,770	$	57,565	$	100,518	$	30,524	$	39,311,958

Interest income on non-accrual loans outstanding that would have been recorded if the loans had been current and performing in accordance with their original terms was $2.0 million and $2.7 million for the three months ended June 30, 2022 and 2021, respectively and $5.4 million and $6.2 million for the six months ended June 30, 2022 and 2021, respectively. Of the interest income recognized during the three months ended June 30, 2022 and 2021, cash-basis interest income was $410 thousand and $575 thousand, respectively. Cash-basis interest income was $964 thousand and $1.2 million for the six months ended June 30, 2022 and 2021 respectively.

Pledged Loans

Loans with carrying values of $15.15 billion and $14.19 billion, respectively, were pledged as collateral for borrowings and capacity at June 30, 2022 and December 31, 2021, respectively, to the FHLB and Federal Reserve Bank.

Portfolio Segment Risk Factors

The risk characteristics and collateral information of each portfolio segment are as follows:

Commercial and Industrial Loans - The C&I loan portfolio is primarily comprised of general middle market and commercial banking clients across a diverse set of industries. In accordance with Synovus' lending policy, each loan undergoes a detailed underwriting process which incorporates uniform underwriting standards and oversight in proportion to the size and complexity of the lending relationship. These loans are secured by collateral such as business equipment, inventory, and real estate. Credit decisions on loans in the C&I portfolio are based on cash flow from the operations of the business as the primary source of repayment of the debt, with underlying real estate or other collateral being the secondary source of repayment. PPP loans, which are categorized as C&I loans, were $86.7 million at June 30, 2022 and are guaranteed by the SBA.

Commercial Real Estate Loans - CRE loans primarily consist of income-producing investment properties loans. Additionally, CRE loans include 1-4 family properties loans as well as land and development loans. Investment properties loans consist of construction and mortgage loans for income-producing properties and are primarily made to finance multi-family properties, hotels, office buildings, shopping centers, warehouses and other commercial development properties. 1-4 family properties loans include construction loans to homebuilders and commercial mortgage loans related to 1-4 family rental properties and are almost always secured by the underlying property being financed by such loans. These properties are primarily located in the markets served by Synovus. Land and development loans include commercial and residential development as well as land acquisition loans and are secured by land held for future development, typically in excess of one year. Properties securing these loans are substantially within markets served by Synovus, and loan terms generally include personal guarantees from the principals. Loans in this portfolio are underwritten based on the LTV of the collateral and the capacity of the guarantor(s).

Consumer Loans - The consumer loan portfolio consists of a wide variety of loan products offered through Synovus' banking network including first and second residential mortgages, home equity, and consumer credit card loans, as well as home improvement loans, student, personal, and auto loans from third-party lending ("other consumer loans"). Together, consumer mortgages and home equity comprise the majority of Synovus' consumer loans and are secured by first and second liens on residential real estate primarily located in the markets served by Synovus. The primary source of repayment for all consumer loans is generally the personal income of the borrower(s).

Credit Quality Indicators

The credit quality of the loan portfolio is reviewed and updated no less frequently than annually using the standard asset classification system utilized by the federal banking agencies. These classifications are divided into three groups: Not Criticized (Pass), Special Mention, and Classified or Adverse rating (Substandard, Doubtful, and Loss) and are defined as follows:

Pass - loans which are well protected by the current net worth and paying capacity of the obligor (or guarantors, if any) or by the fair value, less cost to acquire and sell in a timely manner, of any underlying collateral.

Special Mention - loans which have potential weaknesses that deserve management's close attention. These loans are not adversely classified and do not expose an institution to sufficient risk to warrant an adverse classification.

Substandard - loans which are inadequately protected by the current net worth and paying capacity of the obligor or by the collateral pledged, if any. Loans with this classification are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful - loans which have all the weaknesses inherent in loans categorized as Substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently known facts, conditions, and values.

Loss - loans which are considered by management to be uncollectible and of such little value that their continuance on the institution's books as an asset, without establishment of a specific valuation allowance or charge-off, is not warranted. Synovus fully reserves for any loans rated as Loss.

In the following tables, consumer loans are generally assigned a risk grade similar to the classifications described above; however, upon reaching 90 days and 120 days past due, they are generally downgraded to Substandard and Loss, respectively, in accordance with the FFIEC Retail Credit Classification Policy. Additionally, in accordance with Interagency Supervisory Guidance, the risk grade classifications of consumer loans (consumer mortgages and home equity) secured by junior liens on 1-4 family residential properties also consider available information on the payment status of any associated senior liens with other financial institutions.

The following tables summarize each loan portfolio class by risk grade and origination year as of June 30, 2022 and December 31, 2021 as required under CECL.


	June 30, 2022
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
(in thousands)	2022		2021		2020		2019		2018		Prior		Amortized Cost Basis		Converted to Term Loans		Total
Commercial, financial and agricultural
Pass	$	539,814	$	2,126,772	$	1,183,170	$	811,870	$	569,801	$	1,166,642	$	6,202,131	$	30,553	$	12,630,753
Special Mention	3,136		4,280		9,337		9,435		17,596		3,333		86,555		—		133,672
Substandard(1)	6,888		11,081		52,047		45,437		18,756		28,546		86,152		1,082		249,989
Doubtful(2)	—		—		—		—		3,520		—		—		—		3,520
Loss(3)	—		—		—		—		—		—		155		—		155
Total commercial, financial and agricultural	549,838		2,142,133		1,244,554		866,742		609,673		1,198,521		6,374,993		31,635		13,018,089
Owner-occupied
Pass	834,063		1,730,966		1,178,269		1,007,485		720,509		1,388,397		641,261		—		7,500,950
Special Mention	137		4,545		86,210		8,841		45,656		28,168		—		—		173,557
Substandard(1)	2,400		12,555		2,969		5,738		39,048		22,766		—		—		85,476
Loss(3)	—		253		—		—		—		—		—		—		253
Total owner-occupied	836,600		1,748,319		1,267,448		1,022,064		805,213		1,439,331		641,261		—		7,760,236
Total commercial and industrial	1,386,438		3,890,452		2,512,002		1,888,806		1,414,886		2,637,852		7,016,254		31,635		20,778,325
Investment properties
Pass	1,352,056		2,953,629		1,554,185		1,444,006		901,677		1,749,178		314,751		—		10,269,482
Special Mention	—		6,963		—		15,295		11,559		4,409		7,997		—		46,223
Substandard(1)	358		486		631		3,695		52,785		13,118		21,270		—		92,343
Total investment properties	1,352,414		2,961,078		1,554,816		1,462,996		966,021		1,766,705		344,018		—		10,408,048
1-4 family properties
Pass	174,897		203,245		56,607		38,918		33,778		75,587		46,689		—		629,721
Special Mention	2,688		1,250		970		634		—		202		—		—		5,744
Substandard(1)	699		1,785		5		435		1,521		1,900		45		—		6,390
Total 1-4 family properties	178,284		206,280		57,582		39,987		35,299		77,689		46,734		—		641,855


	June 30, 2022
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
(in thousands)	2022		2021		2020		2019		2018		Prior		Amortized Cost Basis		Converted to Term Loans		Total
Land and development
Pass	66,081		133,592		30,360		55,259		21,038		84,205		22,182		—		412,717
Special Mention	29		170		775		—		31,136		290		—		—		32,400
Substandard(1)	813		2,884		225		643		477		3,355		—		—		8,397
Total land and development	66,923		136,646		31,360		55,902		52,651		87,850		22,182		—		453,514
Total commercial real estate	1,597,621		3,304,004		1,643,758		1,558,885		1,053,971		1,932,244		412,934		—		11,503,417
Consumer mortgages
Pass	498,240		1,249,155		1,432,760		496,716		187,795		1,205,352		492		—		5,070,510
Substandard(1)	45		2,667		4,926		7,134		11,624		26,856		—		—		53,252
Loss(3)	—		—		—		4		—		757		—		—		761
Total consumer mortgages	498,285		1,251,822		1,437,686		503,854		199,419		1,232,965		492		—		5,124,523
Home equity
Pass	—		—		—		—		—		—		1,204,042		363,356		1,567,398
Substandard(1)	—		—		—		—		—		—		6,967		4,289		11,256
Loss(3)	—		—		—		—		—		—		426		138		564
Total home equity	—		—		—		—		—		—		1,211,435		367,783		1,579,218
Credit cards
Pass	—		—		—		—		—		—		193,102		—		193,102
Substandard(1)	—		—		—		—		—		—		430		—		430
Loss(4)	—		—		—		—		—		—		758		—		758
Total credit cards	—		—		—		—		—		—		194,290		—		194,290
Other consumer loans
Pass	155,843		667,787		557,705		86,030		43,321		182,373		323,060		—		2,016,119
Substandard(1)	1,942		1,515		1,724		1,326		1,110		1,094		168		—		8,879
Loss(4)	—		—		—		—		—		9		—		—		9
Total other consumer loans	157,785		669,302		559,429		87,356		44,431		183,476		323,228		—		2,025,007
Total consumer	656,070		1,921,124		1,997,115		591,210		243,850		1,416,441		1,729,445		367,783		8,923,038
Loans, net of deferred fees and costs	$	3,640,129	$	9,115,580	$	6,152,875	$	4,038,901	$	2,712,707	$	5,986,537	$	9,158,633	$	399,418	$	41,204,780

(1) The majority of loans within Substandard risk grade are accruing loans at June 30, 2022.

(2) Loans within Doubtful risk grade are on non-accrual status and generally have an ALL equal to 50% of the loan amount.

(3) Loans within Loss risk grade are on non-accrual status and have an ALL equal to the full loan amount.

(4) Represent amounts that were 120 days past due. These credits are downgraded to the Loss category with an ALL equal to the full loan amount and are generally charged off upon reaching 181 days past due in accordance with the FFIEC Retail Credit Classification Policy.


	December 31, 2021
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
(in thousands)	2021		2020		2019		2018		2017		Prior		Amortized Cost Basis		Converted to Term Loans		Total
Commercial, financial and agricultural
Pass	$	2,396,717	$	1,332,549	$	922,396	$	607,918	$	433,045	$	903,995	$	5,151,981	$	42,809	$	11,791,410
Special Mention	2,731		15,166		17,571		10,433		2,242		2,489		71,996		—		122,628
Substandard(1)	16,105		50,979		40,125		10,383		16,473		37,565		51,442		33		223,105
Doubtful(2)	469		—		1,601		8,512		—		—		48		—		10,630
Loss(3)	—		—		—		—		—		—		85		—		85
Total commercial, financial and agricultural	2,416,022		1,398,694		981,693		637,246		451,760		944,049		5,275,552		42,842		12,147,858
Owner-occupied
Pass	1,776,086		1,276,797		1,117,825		858,721		708,942		1,116,766		437,724		—		7,292,861
Special Mention	702		19,950		4,724		10,202		18,109		36,481		—		—		90,168
Substandard(1)	7,312		1,294		8,386		43,276		6,169		25,329		—		—		91,766
Loss(3)	271		—		—		—		—		—		—		—		271
Total owner-occupied	1,784,371		1,298,041		1,130,935		912,199		733,220		1,178,576		437,724		—		7,475,066
Total commercial and industrial	4,200,393		2,696,735		2,112,628		1,549,445		1,184,980		2,122,625		5,713,276		42,842		19,622,924
Investment properties
Pass	2,823,978		1,463,503		1,905,534		1,019,765		738,036		1,317,634		278,697		—		9,547,147
Special Mention	6,163		—		32,290		63,900		59,194		44,532		33,659		—		239,738
Substandard(1)	1,465		326		8,550		57,127		3,564		23,505		21,354		—		115,891
Total investment properties	2,831,606		1,463,829		1,946,374		1,140,792		800,794		1,385,671		333,710		—		9,902,776
1-4 family properties
Pass	295,082		82,976		51,939		43,025		49,057		57,025		55,588		—		634,692
Special Mention	192		207		641		—		—		239		—		—		1,279
Substandard(1)	1,999		—		566		4,222		489		2,177		45		—		9,498
Total 1-4 family properties	297,273		83,183		53,146		47,247		49,546		59,441		55,633		—		645,469
Land and development
Pass	141,614		42,201		77,868		34,058		37,167		44,989		44,730		—		422,627
Special Mention	—		800		1,900		31,458		—		1,179		—		—		35,337
Substandard(1)	824		1,149		46		3,021		807		3,055		—		—		8,902
Total land and development	142,438		44,150		79,814		68,537		37,974		49,223		44,730		—		466,866
Total commercial real estate	3,271,317		1,591,162		2,079,334		1,256,576		888,314		1,494,335		434,073		—		11,015,111


	December 31, 2021
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
(in thousands)	2021		2020		2019		2018		2017		Prior		Amortized Cost Basis		Converted to Term Loans		Total
Consumer mortgages
Pass	1,274,999		1,556,733		572,467		216,277		392,492		1,001,771		255		—		5,014,994
Substandard(1)	1,031		3,680		5,943		12,387		5,717		25,025		—		—		53,783
Loss(3)	—		—		5		—		—		216		—		—		221
Total consumer mortgages	1,276,030		1,560,413		578,415		228,664		398,209		1,027,012		255		—		5,068,998
Home equity
Pass	—		—		—		—		—		—		1,199,556		146,635		1,346,191
Substandard(1)	—		—		—		—		—		—		9,058		5,372		14,430
Loss(3)	—		—		—		—		—		—		658		140		798
Total home equity	—		—		—		—		—		—		1,209,272		152,147		1,361,419
Credit cards
Pass	—		—		—		—		—		—		203,161		—		203,161
Substandard(1)	—		—		—		—		—		—		348		—		348
Loss(4)	—		—		—		—		—		—		663		—		663
Total credit cards	—		—		—		—		—		—		204,172		—		204,172
Other consumer loans
Pass	654,419		708,937		127,131		49,993		86,175		97,765		306,500		—		2,030,920
Substandard(1)	668		1,550		2,064		1,308		1,892		750		162		—		8,394
Loss(4)	—		—		—		—		—		20		—		—		20
Total other consumer loans	655,087		710,487		129,195		51,301		88,067		98,535		306,662		—		2,039,334
Total consumer	1,931,117		2,270,900		707,610		279,965		486,276		1,125,547		1,720,361		152,147		8,673,923
Loans, net of deferred fees and costs	$	9,402,827	$	6,558,797	$	4,899,572	$	3,085,986	$	2,559,570	$	4,742,507	$	7,867,710	$	194,989	$	39,311,958

(1) The majority of loans within Substandard risk grade are accruing loans at December 31, 2021.

(2) Loans within Doubtful risk grade are on non-accrual status and generally have an ALL equal to 50% of the loan amount.

(3) Loans within Loss risk grade are on non-accrual status and have an ALL equal to the full loan amount.

Collateral-Dependent Loans

We classify a loan as collateral-dependent when our borrower is experiencing financial difficulty, and we expect repayment to be provided substantially through the operation or sale of collateral. Our commercial loans have collateral that is comprised of real estate and business assets. Our consumer loans have collateral that is substantially comprised of residential real estate.

There were no significant changes in the extent to which collateral secures our collateral-dependent loans during the three and six months ended June 30, 2022.

Rollforward of Allowance for Loan Losses

The following tables detail the changes in the ALL by loan segment for the three and six months ended June 30, 2022 and 2021.


	As Of and For the Three Months Ended June 30, 2022
(in thousands)	Commercial & Industrial		Commercial Real Estate		Consumer		Total
Allowance for loan losses:
Beginning balance at March 31, 2022	$	178,722	$	94,696	$	141,538	$	414,956
Charge-offs	(15,512)		(252)		(7,934)		(23,698)
Recoveries	3,208		572		3,353		7,133
Provision for (reversal of) loan losses	(6,410)		9,202		6,654		9,446
Ending balance at June 30, 2022	$	160,008	$	104,218	$	143,611	$	407,837

	As Of and For the Three Months Ended June 30, 2021
(in thousands)	Commercial & Industrial		Commercial Real Estate		Consumer		Total
Allowance for loan losses:
Beginning balance at March 31, 2021	$	254,777	$	113,812	$	194,625	$	563,214
Charge-offs	(18,729)		(3,839)		(8,285)		(30,853)
Recoveries	1,495		377		2,435		4,307
Provision for (reversal of) loan losses	17,395		(18,237)		(19,118)		(19,960)
Ending balance at June 30, 2021	$	254,938	$	92,113	$	169,657	$	516,708

	As Of and For the Six Months Ended June 30, 2022
(in thousands)	Commercial & Industrial		Commercial Real Estate		Consumer		Total
Allowance for loan losses:
Beginning balance at December 31, 2021	$	188,364	$	97,760	$	141,473	$	427,597
Charge-offs	(29,275)		(2,708)		(16,862)		(48,845)
Recoveries	5,571		933		7,167		13,671
Provision for (reversal of) loan losses	(4,652)		8,233		11,833		15,414
Ending balance at June 30, 2022	$	160,008	$	104,218	$	143,611	$	407,837

	As Of and For the Six Months Ended June 30, 2021
(in thousands)	Commercial & Industrial		Commercial Real Estate		Consumer		Total
Allowance for loan losses:
Beginning balance at December 31, 2020	$	229,555	$	130,742	$	245,439	$	605,736
Charge-offs	(28,146)		(14,158)		(13,874)		(56,178)
Recoveries	4,267		1,403		3,758		9,428
Provision for loan losses	49,262		(25,874)		(65,666)		(42,278)
Ending balance at June 30, 2021	$	254,938	$	92,113	$	169,657	$	516,708

The ALL of $407.8 million and the reserve for unfunded commitments of $50.6 million, which is recorded in other liabilities, comprise the total ACL of $458.4 million at June 30, 2022. The ACL decreased $11.1 million compared to the December 31, 2021 ACL of $469.5 million, which consisted of the ALL of $427.6 million and the reserve for unfunded commitments of $41.9 million. The ACL to loans coverage ratio of 1.11% at June 30, 2022 was 8 bps lower compared to December 31, 2021.

The reduction in the ACL resulted primarily from decreased specific reserves, continued positive trends in our credit performance, and the modeled impact from improvement in the current labor market. This was partially offset by loan growth and an increase in the downside weighting of the multiple scenario model which reflects increased economic uncertainty from inflation concerns and geopolitical tensions which slowed the pace of the allowance decline for the first half of the year.

The ACL is estimated using a two-year reasonable and supportable forecast period. To the extent the lives of the loans in the portfolio extend beyond the period for which a reasonable and supportable forecast can be made, the Company reverts on a straight-line basis back to the historical rates over a one-year period. Synovus utilizes multiple economic forecast scenarios sourced from a reputable third-party provider that are probability-weighted internally. The scenarios include a consensus baseline forecast, an upside scenario reflecting an accelerated recovery, a downside scenario that reflects adverse economic conditions, and an additional adverse scenario that assumes consistent slow growth that is less optimistic than the baseline. At June 30, 2022, economic scenario weights incorporated a 60% downside bias to the baseline scenario compared to 43% at December 31, 2021. The consensus baseline outlook used in the June 30, 2022 estimate showed stable economic conditions with an unemployment rate of 3.6% over the forecast period, compared to the December 31, 2021 baseline forecast that sloped from above 4.0% to 3.5%. The downside scenario that assumes consistent slow growth is the highest internally-weighted economic scenario and includes an unemployment rate that steadily rises to 5.2% by the end of 2023.

The provision for credit losses of $12.7 million and $24.1 million for the three and six months ended June 30, 2022 included net charge-offs of $16.6 million and $35.2 million, respectively, and represented a slowing of allowance releases due primarily to the increased economic uncertainty noted above. $3.7 million and $7.5 million in reserves, respectively, were also added as a result of purchases of $180.2 million and $361.6 million of third-party lending loans for the three and six months ended June 30, 2022, respectively.

TDRs

Information about Synovus' TDRs is presented in the following tables. Synovus began entering into loan modifications with borrowers in response to the COVID-19 pandemic under the CARES Act, some of which had not been classified as TDRs. The CARES Act election period ended on January 1, 2022. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies" in Synovus' 2021 Form 10-K for information on Synovus' loan modifications due to COVID-19. The following tables represent, by concession type, the post-modification balance for loans modified or renewed during the three and six months ended June 30, 2022 and 2021 that were reported as accruing or non-accruing TDRs.


TDRs by Concession Type
	Three Months Ended June 30, 2022
(in thousands, except contract data)	Number of Contracts	Below Market Interest Rate		Other Concessions(1)		Total
Commercial, financial and agricultural	23	$	8,534	$	266	$	8,800
Owner-occupied	7	22,430		—		22,430
Total commercial and industrial	30	30,964		266		31,230
Investment properties	2	690		—		690
1-4 family properties	4	1,984		—		1,984
Land and development	1	437		—		437
Total commercial real estate	7	3,111		—		3,111
Consumer mortgages	3	159		162		321
Home equity	14	2,490		39		2,529
Other consumer loans	4	—		91		91
Total consumer	21	2,649		292		2,941
Total TDRs	58	$	36,724	$	558	$	37,282	(2)

	Three Months Ended June 30, 2021
(in thousands, except contract data)	Number of Contracts	Below Market Interest Rate		Other Concessions(1)		Total
Commercial, financial and agricultural	18	$	1,770	$	1,174	$	2,944
Owner-occupied	5	1,155		—		1,155
Total commercial and industrial	23	2,925		1,174		4,099
Investment properties	1	419		—		419
1-4 family properties	2	158		—		158
Land and development	1	366		—		366
Total commercial real estate	4	943		—		943
Consumer mortgages	2	331		—		331
Home equity	14	900		96		996
Other consumer loans	13	187		245		432
Total consumer	29	1,418		341		1,759
Total TDRs	56	$	5,286	$	1,515	$	6,801	(3)

(1) Other concessions generally include term extensions, interest only payments for a period of time, or principal forgiveness, but there was no principal forgiveness for the three months ending June 30, 2022 and 2021.

(2) No net charge-offs were recorded during the three months ended June 30, 2022.

(3) No net charge-offs were recorded during the three months ended June 30, 2021.


	Six Months Ended June 30, 2022
(in thousands, except contract data)	Number of Contracts	Below Market Interest Rate		Other Concessions(1)		Total
Commercial, financial and agricultural	56	$	26,434	$	807	$	27,241
Owner-occupied	20	28,534		3,857		32,391
Total commercial and industrial	76	54,968		4,664		59,632
Investment properties	5	1,279		6,610		7,889
1-4 family properties	11	3,197		—		3,197
Land and development	4	3,168		—		3,168
Total commercial real estate	20	7,644		6,610		14,254
Consumer mortgages	10	1,176		266		1,442
Home equity	25	3,419		39		3,458
Other consumer loans	6	—		139		139
Total consumer	41	4,595		444		5,039
Total TDRs	137	$	67,207	$	11,718	$	78,925	(2)

	Six Months Ended June 30, 2021
(in thousands, except contract data)	Number of Contracts	Below Market Interest Rate		Other Concessions(1)		Total
Commercial, financial and agricultural	58	$	5,003	$	3,737	$	8,740
Owner-occupied	10	2,409		399		2,808
Total commercial and industrial	68	7,412		4,136		11,548
Investment properties	6	2,403		—		2,403
1-4 family properties	7	621		39		660
Land and development	2	366		43		409
Total commercial real estate	15	3,390		82		3,472
Consumer mortgages	2	331		—		331
Home equity	27	1,487		258		1,745
Other consumer loans	86	316		4,864		5,180
Total consumer	115	2,134		5,122		7,256
Total TDRs	198	$	12,936	$	9,340	$	22,276	(3)

(1) Other concessions generally include term extensions, interest only payments for a period of time, or principal forgiveness, but there was no principal forgiveness for the six months ending June 30, 2022 and 2021.

(2) No net charge-offs were recorded during the six months ended June 30, 2022.

(3) No net charge-offs were recorded during the six months ended June 30, 2021.

For both the three and six months ended June 30, 2022, there were 3 defaults with a recorded investment of $430 thousand on accruing TDRs restructured during the previous twelve months (defaults are defined as the earlier of the TDR being placed on non-accrual status or reaching 90 days past due with respect to principal and/or interest payments) compared to five defaults with a recorded investment of $172 thousand for both the three and six months ended June 30, 2021. As of June 30, 2022 and December 31, 2021, there were no commitments to lend a material amount of additional funds to any client whose loan was classified as a TDR.