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Loans, Allowance for Credit Losses, and Asset Quality Information (Tables) | 12 Months Ended
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Dec. 31, 2022
Receivables [Abstract] |
Summary of Major Categories of Total Loans Outstanding | The following is a summary of the major categories of total loans outstanding:
| December 31, 2022 |  | December 31, 2021
($ in thousands) | Amount |  | Percentage |  | Amount |  | Percentage
Commercial, financial, and agricultural | $ | 641,941 |  |  | 9 | % |  | 648,997 |  |  | 11 | %
Real estate – construction, land development & other land loans | 934,176 |  |  | 14 | % |  | 828,549 |  |  | 13 | %
Real estate mortgage – residential (1-4 family) first mortgages | 1,195,785 |  |  | 18 | % |  | 1,021,966 |  |  | 17 | %
Real estate mortgage – home equity loans/lines of credit | 323,726 |  |  | 5 | % |  | 331,932 |  |  | 5 | %
Real estate mortgage – commercial and other | 3,510,261 |  |  | 53 | % |  | 3,194,737 |  |  | 53 | %
Consumer loans | 60,659 |  |  | 1 | % |  | 57,238 |  |  | 1 | %
Subtotal | 6,666,548 |  |  | 100 | % |  | 6,083,419 |  |  | 100 | %
Unamortized net deferred loan fees | (1,403) |  |  |  |  | (1,704) |  |  |
Total loans | $ | 6,665,145 |  |  |  |  | 6,081,715 |  |  |
($ in thousands) | December 31, 2022 |  | December 31, 2021
Guaranteed portions of SBA Loans included in table above | $ | 31,893 |  |  | 48,377 |
Unguaranteed portions of SBA Loans included in table above | 116,910 |  |  | 122,772 |
Total SBA loans included in the table above | $ | 148,803 |  |  | 171,149 |
Sold portions of SBA loans with servicing retained - not included in table above | $ | 392,370 |  |  | 414,240 |
Schedule of Nonperforming Assets and Nonaccrual Loans | Nonperforming assets, defined as nonaccrual loans, troubled debt restructurings, loans past due 90 or more days and still accruing interest, and foreclosed real estate, are summarized as follows:
($ in thousands) | December 31, 2022 |  | December 31, 2021
Nonperforming assets |  |  |
Nonaccrual loans | $ | 28,514 |  |  | 34,696 |
Restructured loans - accruing | 9,121 |  |  | 13,866 |
Accruing loans > 90 days past due | — |  |  | 1,004 |
Total nonperforming loans | 37,635 |  |  | 49,566 |
Foreclosed properties | 658 |  |  | 3,071 |
Total nonperforming assets | $ | 38,293 |  |  | 52,637 |
The following table is a summary of the Company’s nonaccrual loans by major categories for the year ended December 31, 2022.
($ in thousands) |  | Nonaccrual Loans with No Allowance |  | Nonaccrual Loans with an Allowance |  | Total Nonaccrual Loans
Commercial, financial, and agricultural |  | $ | 3,855 |  |  | 6,374 |  |  | 10,229 |
Real estate – construction, land development & other land loans |  | — |  |  | 1,009 |  |  | 1,009 |
Real estate mortgage – residential (1-4 family) first mortgages |  | 157 |  |  | 3,132 |  |  | 3,289 |
Real estate mortgage – home equity loans/lines of credit |  | — |  |  | 1,397 |  |  | 1,397 |
Real estate mortgage – commercial and other |  | 5,010 |  |  | 7,495 |  |  | 12,505 |
Consumer loans |  | — |  |  | 85 |  |  | 85 |
Total |  | $ | 9,022 |  |  | 19,492 |  |  | 28,514 |
The following table is a summary of the Company’s nonaccrual loans by major categories for the year ended December 31, 2021.
($ in thousands) |  | Nonaccrual Loans with No Allowance |  | Nonaccrual Loans with an Allowance |  | Total Nonaccrual Loans
Commercial, financial, and agricultural |  | $ | 3,947 |  |  | 8,205 |  |  | 12,152 |
Real estate – construction, land development & other land loans |  | 495 |  |  | 137 |  |  | 632 |
Real estate mortgage – residential (1-4 family) first mortgages |  | 858 |  |  | 4,040 |  |  | 4,898 |
Real estate mortgage – home equity loans/lines of credit |  | — |  |  | 694 |  |  | 694 |
Real estate mortgage – commercial and other |  | 7,648 |  |  | 8,583 |  |  | 16,231 |
Consumer loans |  | — |  |  | 89 |  |  | 89 |
Total |  | $ | 12,948 |  |  | 21,748 |  |  | 34,696 |
Summary of Accrued Interest Receivables Written Off | The following table represents the accrued interest receivables written off by reversing interest income for the periods indicate.
($ in thousands) | Year Ended December 31, 2022 | Year Ended December 31, 2021
Commercial, financial, and agricultural | $ | 102 |  | 195 |
Real estate – construction, land development & other land loans | 16 |  | 6 |
Real estate mortgage – residential (1-4 family) first mortgages | 45 |  | 31 |
Real estate mortgage – home equity loans/lines of credit | 20 |  | 14 |
Real estate mortgage – commercial and other | 139 |  | 453 |
Consumer loans | 2 |  | — |
Total | $ | 324 |  | 699 |
Schedule of Analysis of Payment Status | The following table presents an analysis of the payment status of the Company’s loans as of December 31, 2022.
($ in thousands) | Accruing 30-59 Days Past Due |  | Accruing 60- 89 Days Past Due |  | Accruing 90 Days or More Past Due |  | Nonaccrual Loans |  | Accruing Current |  | Total Loans Receivable
Commercial, financial, and agricultural | $ | 438 |  |  | 565 |  |  | — |  |  | 10,229 |  |  | 630,709 |  |  | 641,941 |
Real estate – construction, land development & other land loans | 238 |  |  | 1,687 |  |  | — |  |  | 1,009 |  |  | 931,242 |  |  | 934,176 |
Real estate mortgage – residential (1-4 family) first mortgages | 3,415 |  |  | 25 |  |  | — |  |  | 3,289 |  |  | 1,189,056 |  |  | 1,195,785 |
Real estate mortgage – home equity loans/lines of credit | 457 |  |  | 371 |  |  | — |  |  | 1,397 |  |  | 321,501 |  |  | 323,726 |
Real estate mortgage – commercial and other | 620 |  |  | 97 |  |  | — |  |  | 12,505 |  |  | 3,497,039 |  |  | 3,510,261 |
Consumer loans | 249 |  |  | 66 |  |  | — |  |  | 85 |  |  | 60,259 |  |  | 60,659 |
Total | $ | 5,417 |  |  | 2,811 |  |  | — |  |  | 28,514 |  |  | 6,629,806 |  |  | 6,666,548 |
Unamortized net deferred loan fees |  |  |  |  |  |  |  |  |  | (1,403) |
Total loans |  |  |  |  |  |  |  |  |  |  | $ | 6,665,145 |
The following table presents an analysis of the payment status of the Company’s loans as of December 31, 2021.
($ in thousands) | Accruing 30-59 Days Past Due |  | Accruing 60- 89 Days Past Due |  | Accruing 90 Days or More Past Due |  | Nonaccrual Loans |  | Accruing Current |  | Total Loans Receivable
Commercial, financial, and agricultural | $ | 377 |  |  | 93 |  |  | — |  |  | 12,152 |  |  | 636,375 |  |  | 648,997 |
Real estate – construction, land development & other land loans | 4,046 |  |  | — |  |  | 286 |  |  | 632 |  |  | 823,585 |  |  | 828,549 |
Real estate mortgage – residential (1-4 family) first mortgages | 6,571 |  |  | 1,488 |  |  | — |  |  | 4,898 |  |  | 1,009,009 |  |  | 1,021,966 |
Real estate mortgage – home equity loans/lines of credit | 489 |  |  | 124 |  |  | 718 |  |  | 694 |  |  | 329,907 |  |  | 331,932 |
Real estate mortgage – commercial and other | 164 |  |  | 1,496 |  |  | — |  |  | 16,231 |  |  | 3,176,846 |  |  | 3,194,737 |
Consumer loans | 116 |  |  | 62 |  |  | — |  |  | 89 |  |  | 56,971 |  |  | 57,238 |
Total | $ | 11,763 |  |  | 3,263 |  |  | 1,004 |  |  | 34,696 |  |  | 6,032,693 |  |  | 6,083,419 |
Unamortized net deferred loan (fees) costs |  |  |  |  |  |  |  |  |  | (1,704) |
Total loans |  |  |  |  |  |  |  |  |  |  | $ | 6,081,715 |
Analysis of Collateral-Dependent Loans | The following table presents an analysis of collateral-dependent loans of the Company as of December 31, 2022.
($ in thousands) | Residential Property |  | Business Assets |  | Land |  | Commercial Property |  | Total Collateral-Dependent Loans
Commercial, financial, and agricultural | $ | — |  |  | 6,394 |  |  | — |  |  | — |  |  | 6,394 |
Real estate mortgage – residential (1-4 family) first mortgages | 157 |  |  | — |  |  | — |  |  | — |  |  | 157 |
Real estate mortgage – commercial and other | — |  |  | — |  |  | — |  |  | 6,723 |  |  | 6,723 |
Total | $ | 157 |  |  | 6,394 |  |  | — |  |  | 6,723 |  |  | 13,274 |
The following table presents an analysis of collateral-dependent loans of the Company as of December 31, 2021.
($ in thousands) | Residential Property |  | Business Assets |  | Land |  | Commercial Property |  | Total Collateral-Dependent Loans
Commercial, financial, and agricultural | $ | — |  |  | 7,886 |  |  | — |  |  | — |  |  | 7,886 |
Real estate – construction, land development & other land loans | — |  |  | — |  |  | 533 |  |  | — |  |  | 533 |
Real estate mortgage – residential (1-4 family) first mortgages | 871 |  |  | — |  |  | — |  |  | — |  |  | 871 |
Real estate mortgage – commercial and other | — |  |  | — |  |  | — |  |  | 10,743 |  |  | 10,743 |
Total | $ | 871 |  |  | 7,886 |  |  | 533 |  |  | 10,743 |  |  | 20,033 |
Schedule of Allowance for Loan Losses | The following tables presents the activity in the ACL on loans for the periods indicated. The increase in ACL at December 31, 2022 as compared to the prior year was related to a combination of the allowance required for loan growth during the year, and updated economic forecasts and loss driver inputs to the CECL model. Throughout 2022, the economic forecasts have projected general weakening of the economy demonstrated by higher projected unemployment rates, lower GDP, and declining price indices for both commercial real estate and residential mortgages. These worsening economic projections translated to higher forecasted life of loan losses in our portfolio and a higher estimated ACL.
($ in thousands) | Commercial, Financial, and Agricultural |  | Real Estate - Construction, Land Development & Other Land Loans |  | Real Estate Mortgage - Residential (1-4 Family) First Mortgages |  | Real Estate Mortgage - Home Equity Loans/Lines of Credit |  | Real Estate Mortgage - Commercial and Other |  | Consumer Loans |  | Total
As of and for the year ended December 31, 2022
Beginning balance | $ | 16,249 |  |  | 16,519 |  |  | 8,686 |  |  | 4,337 |  |  | 30,342 |  |  | 2,656 |  |  | 78,789 |
Charge-offs | (2,519) |  |  | — |  |  | — |  |  | (43) |  |  | (1,063) |  |  | (840) |  |  | (4,465) |
Recoveries | 756 |  |  | 480 |  |  | 17 |  |  | 600 |  |  | 1,983 |  |  | 207 |  |  | 4,043 |
Provisions/(Reversals) | 3,232 |  |  | (1,871) |  |  | 2,651 |  |  | (1,736) |  |  | 9,447 |  |  | 877 |  |  | 12,600 |
Ending balance | $ | 17,718 |  |  | 15,128 |  |  | 11,354 |  |  | 3,158 |  |  | 40,709 |  |  | 2,900 |  |  | 90,967 |
($ in thousands) | Commercial, Financial, and Agricultural |  | Real Estate - Construction, Land Development & Other Land Loans |  | Real Estate Mortgage - Residential (1-4 Family) First Mortgages |  | Real Estate Mortgage - Home Equity Loans/Lines of Credit |  | Real Estate Mortgage - Commercial and Other |  | Consumer loans |  | Unallocated |  | Total
As of and for the year ended December 31, 2021
Beginning balance | $ | 11,316 |  |  | 5,355 |  |  | 8,048 |  |  | 2,375 |  |  | 23,603 |  |  | 1,478 |  |  | 213 |  |  | 52,388 |
Adjustment for implementation of CECL | 3,067 |  |  | 6,140 |  |  | 2,584 |  |  | 2,580 |  |  | (257) |  |  | 674 |  |  | (213) |  |  | 14,575 |
Allowance for Select PCD loans | 2,917 |  |  | 165 |  |  | 222 |  |  | 92 |  |  | 1,489 |  |  | 10 |  |  | — |  |  | 4,895 |
Charge-offs | (3,722) |  |  | (245) |  |  | (273) |  |  | (400) |  |  | (2,295) |  |  | (667) |  |  | — |  |  | (7,602) |
Recoveries | 1,744 |  |  | 948 |  |  | 761 |  |  | 578 |  |  | 533 |  |  | 358 |  |  | — |  |  | 4,922 |
Provisions/ (Reversals) | 927 |  |  | 4,156 |  |  | (2,656) |  |  | (888) |  |  | 7,269 |  |  | 803 |  |  | — |  |  | 9,611 |
Ending balance | $ | 16,249 |  |  | 16,519 |  |  | 8,686 |  |  | 4,337 |  |  | 30,342 |  |  | 2,656 |  |  | — |  |  | 78,789 |
The following table presents the activity in the allowance for loan losses for the year ended December 31, 2020 under the Incurred Loss methodology.
($ in thousands) | Commercial, Financial, and Agricultural |  | Real Estate - Construction, Land Development & Other Land Loans |  | Real Estate Mortgage - Residential (1-4 Family) First Mortgages |  | Real Estate Mortgage - Home Equity Loans/Lines of Credit |  | Real Estate Mortgage - Commercial and Other |  | Consumer loans |  | Unallo- cated |  | Total
As of and for the year ended December 31, 2020
Beginning balance | $ | 4,553 |  |  | 1,976 |  |  | 3,832 |  |  | 1,127 |  |  | 8,938 |  |  | 972 |  |  | — |  |  | 21,398 |
Charge-offs | (5,608) |  |  | (51) |  |  | (478) |  |  | (524) |  |  | (968) |  |  | (873) |  |  | — |  |  | (8,502) |
Recoveries | 745 |  |  | 1,552 |  |  | 754 |  |  | 487 |  |  | 621 |  |  | 294 |  |  | — |  |  | 4,453 |
Provisions | 11,626 |  |  | 1,878 |  |  | 3,940 |  |  | 1,285 |  |  | 15,012 |  |  | 1,085 |  |  | 213 |  |  | 35,039 |
Ending balance | $ | 11,316 |  |  | 5,355 |  |  | 8,048 |  |  | 2,375 |  |  | 23,603 |  |  | 1,478 |  |  | 213 |  |  | 52,388 |
Ending balances as of December 31, 2020: Allowance for loan losses
Individually evaluated for impairment | $ | 3,546 |  |  | 30 |  |  | 800 |  |  | — |  |  | 2,175 |  |  | — |  |  | — |  |  | 6,551 |
Collectively evaluated for impairment | 7,742 |  |  | 5,325 |  |  | 7,141 |  |  | 2,375 |  |  | 21,428 |  |  | 1,475 |  |  | 213 |  |  | 45,699 |
Purchased credit impaired | 28 |  |  | — |  |  | 107 |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 138 |
Loans receivable as of December 31, 2020:
Ending balance – total | $ | 782,549 |  |  | 570,672 |  |  | 972,378 |  |  | 306,256 |  |  | 2,049,203 |  |  | 53,955 |  |  | — |  |  | 4,735,013 |
Unamortized net deferred loan fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,698) |
Total loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,731,315 |
Ending balances as of December 31, 2020: Loans
Individually evaluated for impairment | $ | 7,700 |  |  | 677 |  |  | 9,303 |  |  | 15 |  |  | 18,582 |  |  | 4 |  |  | — |  |  | 36,281 |
Collectively evaluated for impairment | 774,712 |  |  | 569,845 |  |  | 958,848 |  |  | 306,141 |  |  | 2,026,682 |  |  | 53,913 |  |  | — |  |  | 4,690,141 |
Purchased credit impaired | 137 |  |  | 150 |  |  | 4,227 |  |  | 100 |  |  | 3,939 |  |  | 38 |  |  | — |  |  | 8,591 |
The following table prese nts the balance and activity in the allowance for credit losses for unfunded loan commitments for each period indicated.
($ in thousands) | December 31, 2022 | December 31, 2021 |
Beginning balance | $ | 13,506 |  | $ | 582 |  |
Adjustments for implementation of CECL on January 1, 2021 | — |  | 7,504 |  |
Day 2 provision for credit losses on unfunded commitments acquired from Select | — |  | 3,982 |  |
(Reversal of) provision for credit losses on changes in unfunded commitments | (200) |  | 1,438 |  |
Ending balance | $ | 13,306 |  | $ | 13,506 |  |
Schedule of Recorded Investment in Loans by Credit Quality Indicators | The following describes the Company’s internal risk grades in ascending order of likelihood of loss:
| Risk Grade | Description
Pass: |
| 1 | Loans with virtually no risk, including cash secured loans.
| 2 | Loans with documented significant overall financial strength. These loans have minimum chance of loss due to the presence of multiple sources of repayment – each clearly sufficient to satisfy the obligation.
| 3 | Loans with documented satisfactory overall financial strength. These loans have a low loss potential due to presence of at least two clearly identified sources of repayment – each of which is sufficient to satisfy the obligation under the present circumstances.
| 4 | Loans to borrowers with acceptable financial condition. These loans could have signs of minor operational weaknesses, lack of adequate financial information, or loans supported by collateral with questionable value or marketability.
| 5 | Loans that represent above average risk due to minor weaknesses and warrant closer scrutiny by management. Collateral is generally available and felt to provide reasonable coverage with realizable liquidation values in normal circumstances. Repayment performance is satisfactory.
| P (Pass) | Consumer loans that are of satisfactory credit quality with borrowers who exhibit good personal credit history, average personal financial strength and moderate debt levels. These loans generally conform to Bank policy, but may include approved mitigated exceptions to the guidelines.
Special Mention: |
| 6 | Existing loans with defined weaknesses in primary source of repayment that, if not corrected, could cause a loss to the Company.
Classified: |
| 7 | An existing loan inadequately protected by the current sound net worth and paying capacity of the obligor or the collateral pledged, if any. These loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt.
| 8 | Loans that have a well-defined weakness that make the collection or liquidation in full highly questionable and improbable. Loss appears imminent, but the exact amount and timing is uncertain.
| 9 | Loans that are considered uncollectible and are in the process of being charged-off. This grade is a temporary grade assigned for administrative purposes until the charge-off is completed.
| F (Fail) | Consumer loans with a well-defined weakness, such as exceptions of any kind with no mitigating factors, history of paying outside the terms of the note, insufficient income to support the current level of debt, etc.
The following table presents the Company’s recorded investment in loans by credit quality indicators by year of origination or renewal as of December 31, 2022. Acquired loans are presented in the year originated, not in the year of acquisition.
| Term Loans by Year of Origination |  |  |  |
($ in thousands) | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Revolving |  | Total
Commercial, financial, and agricultural
Pass | $ | 185,167 |  |  | 107,747 |  |  | 85,110 |  |  | 51,274 |  |  | 590 |  |  | 76,588 |  |  | 120,590 |  |  | 627,066 |
Special Mention | 342 |  |  | 166 |  |  | 648 |  |  | 1,312 |  |  | — |  |  | 990 |  |  | 332 |  |  | 3,790 |
Classified | 734 |  |  | 1,909 |  |  | 808 |  |  | 1,384 |  |  | — |  |  | 5,762 |  |  | 488 |  |  | 11,085 |
Total commercial, financial, and agricultural | 186,243 |  |  | 109,822 |  |  | 86,566 |  |  | 53,970 |  |  | 590 |  |  | 83,340 |  |  | 121,410 |  |  | 641,941 |
Real estate – construction, land development & other land loans
Pass | 550,752 |  |  | 267,096 |  |  | 42,421 |  |  | 30,973 |  |  | — |  |  | 12,722 |  |  | 19,519 |  |  | 923,483 |
Special Mention | 5,128 |  |  | 5 |  |  | 3,679 |  |  | — |  |  | — |  |  | 100 |  |  | 13 |  |  | 8,925 |
Classified | 656 |  |  | 107 |  |  | 38 |  |  | 899 |  |  | — |  |  | 44 |  |  | 24 |  |  | 1,768 |
Total real estate – construction, development & other land loans | 556,536 |  |  | 267,208 |  |  | 46,138 |  |  | 31,872 |  |  | — |  |  | 12,866 |  |  | 19,556 |  |  | 934,176 |
Real estate mortgage – residential (1-4 family) first mortgages
Pass | 317,282 |  |  | 274,756 |  |  | 186,102 |  |  | 98,559 |  |  | 185 |  |  | 301,885 |  |  | 1,379 |  |  | 1,180,148 |
Special Mention | 1,189 |  |  | 127 |  |  | 110 |  |  | 470 |  |  | — |  |  | 2,416 |  |  | — |  |  | 4,312 |
Classified | 763 |  |  | 251 |  |  | 221 |  |  | 359 |  |  | — |  |  | 9,072 |  |  | 659 |  |  | 11,325 |
Total real estate mortgage – residential (1-4 family) first mortgages | 319,234 |  |  | 275,134 |  |  | 186,433 |  |  | 99,388 |  |  | 185 |  |  | 313,373 |  |  | 2,038 |  |  | 1,195,785 |
Real estate mortgage – home equity loans/lines of credit
Pass | 869 |  |  | 1,091 |  |  | 349 |  |  | 237 |  |  | — |  |  | 2,020 |  |  | 309,786 |  |  | 314,352 |
Special Mention | 175 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18 |  |  | 1,072 |  |  | 1,265 |
Classified | 106 |  |  | 156 |  |  | 94 |  |  | 87 |  |  | — |  |  | 213 |  |  | 7,453 |  |  | 8,109 |
Total real estate mortgage – home equity loans/lines of credit | 1,150 |  |  | 1,247 |  |  | 443 |  |  | 324 |  |  | — |  |  | 2,251 |  |  | 318,311 |  |  | 323,726 |
Real estate mortgage – commercial and other
Pass | 1,096,643 |  |  | 1,186,678 |  |  | 569,624 |  |  | 247,448 |  |  | 179 |  |  | 324,361 |  |  | 48,882 |  |  | 3,473,815 |
Special Mention | 1,715 |  |  | 1,114 |  |  | 4,436 |  |  | 8,289 |  |  | — |  |  | 4,457 |  |  | 665 |  |  | 20,676 |
Classified | 3,480 |  |  | 1,265 |  |  | 84 |  |  | 2,456 |  |  | — |  |  | 8,118 |  |  | 367 |  |  | 15,770 |
Total real estate mortgage – commercial and other | 1,101,838 |  |  | 1,189,057 |  |  | 574,144 |  |  | 258,193 |  |  | 179 |  |  | 336,936 |  |  | 49,914 |  |  | 3,510,261 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 35,406 |  |  | 7,946 |  |  | 3,610 |  |  | 1,056 |  |  | 3 |  |  | 1,250 |  |  | 10,953 |  |  | 60,224 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Classified | 320 |  |  | 31 |  |  | 3 |  |  | 1 |  |  | — |  |  | 25 |  |  | 55 |  |  | 435 |
Total consumer loans | 35,726 |  |  | 7,977 |  |  | 3,613 |  |  | 1,057 |  |  | 3 |  |  | 1,275 |  |  | 11,008 |  |  | 60,659 |
Total | $ | 2,200,727 |  |  | 1,850,445 |  |  | 897,337 |  |  | 444,804 |  |  | 957 |  |  | 750,041 |  |  | 522,237 |  |  | 6,666,548 |
Unamortized net deferred loan fees |  | (1,403) |
Total loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6,665,145 |
At December 31, 2022, as derived from the table above, the Company had $39.0 million in loans graded as Special Mention and $48.5 million in loans graded as Classified, which includes all nonaccrual loans. In the table above, substantially all of the "Classified Loans" have grades of 7 or Fail, with those categories having similar levels of risk. Revolving lines of credit that converted to term loans during the year ended December 31, 2022 amounted to $3.3 million. The following table presents the Company’s recorded investment in loans by credit quality indicators by year of origination or renewal as of December 31, 2021. Acquired loans are presented in the year originated, not in the year of acquisition.
| Term Loans by Year of Origination |  |  |  |
($ in thousands) | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Revolving |  | Total
Commercial, financial, and agricultural
Pass | $ | 204,945 |  |  | 138,540 |  |  | 71,369 |  |  | 66,645 |  |  | 16,009 |  |  | 17,492 |  |  | 112,933 |  |  | 627,933 |
Special Mention | 225 |  |  | 1,255 |  |  | 1,313 |  |  | 2,729 |  |  | 225 |  |  | 9 |  |  | 2,348 |  |  | 8,104 |
Classified | 1,609 |  |  | 793 |  |  | 1,703 |  |  | 7,096 |  |  | 511 |  |  | 96 |  |  | 1,152 |  |  | 12,960 |
Total commercial, financial, and agricultural | 206,779 |  |  | 140,588 |  |  | 74,385 |  |  | 76,470 |  |  | 16,745 |  |  | 17,597 |  |  | 116,433 |  |  | 648,997 |
Real estate – construction, land development & other land loans
Pass | 573,613 |  |  | 133,888 |  |  | 69,066 |  |  | 12,455 |  |  | 9,764 |  |  | 8,190 |  |  | 13,737 |  |  | 820,713 |
Special Mention | 41 |  |  | 737 |  |  | 5,095 |  |  | 110 |  |  | 104 |  |  | 2 |  |  | 9 |  |  | 6,098 |
Classified | 1,541 |  |  | 49 |  |  | 47 |  |  | 83 |  |  | 14 |  |  | 4 |  |  | — |  |  | 1,738 |
Total real estate – construction, development & other land loans | 575,195 |  |  | 134,674 |  |  | 74,208 |  |  | 12,648 |  |  | 9,882 |  |  | 8,196 |  |  | 13,746 |  |  | 828,549 |
Real estate mortgage – residential (1-4 family) first mortgages
Pass | 241,619 |  |  | 224,617 |  |  | 120,097 |  |  | 82,531 |  |  | 86,074 |  |  | 234,950 |  |  | 11,051 |  |  | 1,000,939 |
Special Mention | 888 |  |  | 615 |  |  | 516 |  |  | 229 |  |  | 323 |  |  | 3,237 |  |  | 94 |  |  | 5,902 |
Classified | 419 |  |  | 156 |  |  | 535 |  |  | 1,185 |  |  | 653 |  |  | 11,246 |  |  | 931 |  |  | 15,125 |
Total real estate mortgage – residential (1-4 family) first mortgages | 242,926 |  |  | 225,388 |  |  | 121,148 |  |  | 83,945 |  |  | 87,050 |  |  | 249,433 |  |  | 12,076 |  |  | 1,021,966 |
Real estate mortgage – home equity loans/lines of credit
Pass | 3,111 |  |  | 498 |  |  | 439 |  |  | 1,304 |  |  | 245 |  |  | 1,649 |  |  | 317,319 |  |  | 324,565 |
Special Mention | 194 |  |  | — |  |  | 15 |  |  | — |  |  | — |  |  | 19 |  |  | 1,341 |  |  | 1,569 |
Classified | 75 |  |  | 97 |  |  | 71 |  |  | — |  |  | — |  |  | 607 |  |  | 4,948 |  |  | 5,798 |
Total real estate mortgage – home equity loans/lines of credit | 3,380 |  |  | 595 |  |  | 525 |  |  | 1,304 |  |  | 245 |  |  | 2,275 |  |  | 323,608 |  |  | 331,932 |
Real estate mortgage – commercial and other
Pass | 1,328,156 |  |  | 796,992 |  |  | 355,885 |  |  | 211,118 |  |  | 197,165 |  |  | 197,659 |  |  | 66,104 |  |  | 3,153,079 |
Special Mention | 1,759 |  |  | 4,849 |  |  | 5,801 |  |  | 3,741 |  |  | 2,072 |  |  | 1,801 |  |  | 1,440 |  |  | 21,463 |
Classified | 7,147 |  |  | 413 |  |  | 2,110 |  |  | 6,025 |  |  | 3,897 |  |  | 603 |  |  | — |  |  | 20,195 |
Total real estate mortgage – commercial and other | 1,337,062 |  |  | 802,254 |  |  | 363,796 |  |  | 220,884 |  |  | 203,134 |  |  | 200,063 |  |  | 67,544 |  |  | 3,194,737 |
Consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 14,960 |  |  | 25,431 |  |  | 2,965 |  |  | 1,722 |  |  | 673 |  |  | 525 |  |  | 10,810 |  |  | 57,086 |
Special Mention | — |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |
Classified | — |  |  | 73 |  |  | — |  |  | 8 |  |  | — |  |  | 25 |  |  | 42 |  |  | 148 |
Total consumer loans | 14,960 |  |  | 25,508 |  |  | 2,965 |  |  | 1,730 |  |  | 673 |  |  | 550 |  |  | 10,852 |  |  | 57,238 |
Total | $ | 2,380,302 |  |  | 1,329,007 |  |  | 637,027 |  |  | 396,981 |  |  | 317,729 |  |  | 478,114 |  |  | 544,259 |  |  | 6,083,419 |
Unamortized net deferred loan fees |  | (1,704) |
Total loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6,081,715 |
At December 31, 2021, as derived from the table above, the Company had $43.1 million in loans graded as Special Mention and $56.0 million in loans graded as Classified, which includes all nonaccrual loans. In the table above, substantially all of the "Classified Loans" have grades of 7 or Fail, with those categories having similar levels of risk. Revolving lines of credit that converted to term loans during the year ended December 31, 2021 amounted to $1.0 million.
Schedule of Information Related to Loans Modified in a Troubled Debt Restructuring | The following table presents information related to loans modified in a TDR during the year ended December 31, 2022.
| For the year ended December 31, 2022
($ in thousands, except number of contracts) | Number of Contracts |  | Pre- Modification Restructured Balances |  | Post- Modification Restructured Balances
TDRs – Accruing |  |  |  |  |
Commercial, financial, and agricultural | 2 |  |  | $ | 143 |  |  | 143 |
Real estate – construction, land development & other land loans | 1 |  |  | 67 |  |  | 67 |
Real estate mortgage – residential (1-4 family) first mortgages | 2 |  |  | 75 |  |  | 78 |
TDRs – Nonaccrual |  |  |  |  |
Commercial, financial, and agricultural | 5 |  |  | 744 |  |  | 744 |
Real estate mortgage – residential (1-4 family) first mortgages | 1 |  |  | 36 |  |  | 36 |
Real estate mortgage – commercial and other | 1 |  |  | 72 |  |  | 72 |
Total TDRs arising during period | 12 |  |  | $ | 1,137 |  |  | 1,140 |
The following table presents information related to loans modified in a TDR during the year ended December 31, 2021.
| For the year ended December 31, 2021
($ in thousands, except number of contracts) | Number of Contracts |  | Pre- Modification Restructured Balances |  | Post- Modification Restructured Balances
TDRs – Accruing |  |  |  |  |
Real estate mortgage – residential (1-4 family) first mortgages | 1 |  |  | $ | 33 |  |  | 33 |
TDRs – Nonaccrual |  |  |  |  |
Commercial, financial, and agricultural | 5 |  |  | 1,438 |  |  | 1,435 |
Real estate – construction, land development & other land loans | 1 |  |  | 75 |  |  | 75 |
Real estate mortgage – residential (1-4 family) first mortgages | 1 |  |  | 263 |  |  | 263 |
Real estate mortgage – commercial and other | 4 |  |  | 1,729 |  |  | 1,729 |
Total TDRs arising during period | 12 |  |  | $ | 3,538 |  |  | 3,535 |
The following table presents information related to loans modified in a TDR during the year ended December 31, 2020.
| For the year ended December 31, 2020
($ in thousands, except number of contracts) | Number of Contracts |  | Pre- Modification Restructured Balances |  | Post- Modification Restructured Balances
TDRs – Accruing |  |  |  |  |
Commercial, financial, and agricultural | 2 |  |  | $ | 143 |  |  | 143 |
Real estate – construction, land development & other land loans | 1 |  |  | 67 |  |  | 67 |
Real estate mortgage – residential (1-4 family) first mortgages | 2 |  |  | 75 |  |  | 78 |
Consumer loans | 1 |  |  | 4 |  |  | 4 |
TDRs – Nonaccrual |  |  |  |  |
Commercial, financial, and agricultural | 1 |  |  | 72 |  |  | 72 |
Real estate mortgage – commercial and other | 5 |  |  | 5,977 |  |  | 5,977 |
Total TDRs arising during period | 12 |  |  | $ | 6,338 |  |  | 6,341 |
Accruing TDRs that were modified in the previous 12 months and that defaulted during the years ended December 31, 2022, 2021, and 2020 are presented in the table below. The Company considers a loan to have defaulted when it becomes 90 or more days delinquent under the modified terms, has been transferred to nonaccrual status, or has been transferred to foreclosed real estate.
| For the Year Ended December 31, 2022 |  | For the Year Ended December 31, 2021 |  | For the Year Ended December 31, 2020
($ in thousands) | Number of Contracts |  | Recorded Investment |  | Number of Contracts |  | Recorded Investment |  | Number of Contracts |  | Recorded Investment
Accruing TDRs that subsequently defaulted |  |  |  |  |  |  |  |  |  |  |
Real estate mortgage – commercial and other | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | 1 |  |  | $ | 274 |
Total accruing TDRs that subsequently defaulted | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | 1 |  |  | $ | 274 |

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