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Loans and Allowance for Loan Losses (“ALLL”) (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Composition of Loan Portfolio

The composition of the loan portfolio is as follows as of the periods indicated:

			December 31,						December 31,
			2022						2021
			(dollars in thousands)
Commercial and industrial loans			$	312,628					$	419,060
Real estate loans:
Construction, land, and land development			214,055						183,594
Residential real estate			449,157						204,389
Commercial real estate			1,048,752						835,587
Consumer and other loans			608,771						108,871
Gross loans receivable			2,633,363						1,751,501
Net deferred origination fees and premiums			(6,107)						(8,766)
Loans receivable			$	2,627,256					$	1,742,735

Summary of an Age Analysis of Past Due Loans

The following table illustrates an age analysis of past due loans as of the dates indicated:

			30-89 Days Past Due						90 Days or More Past Due						Total Past Due						Current						Total Loans						Recorded Investment 90 Days or More Past Due and Still Accruing
			(dollars in thousands)
December 31, 2022
Commercial and industrial loans			$	393					$	486					$	879					$	311,749					$	312,628					$	404
Real estate loans:
Construction, land and land development			—						66						66						213,989						214,055						—
Residential real estate			1,016						876						1,892						447,265						449,157						876
Commercial real estate			95						6,901						6,996						1,041,756						1,048,752						—
Consumer and other loans			37,932						24,815						62,747						546,024						608,771						24,815
			$	39,436					$	33,144					$	72,580					$	2,560,783					$	2,633,363					$	26,095
Less net deferred origination fees and premiums																											(6,107)
Loans receivable																											$	2,627,256

			30-89 Days Past Due						90 Days or More Past Due						Total Past Due						Current						Total Loans						Recorded Investment 90 Days or More Past Due and Still Accruing
			(dollars in thousands)
December 31, 2021
Commercial and industrial loans			$	259					$	38					$	297					$	418,763					$	419,060					$	—
Real estate loans:
Construction, land and land development			—						—						—						183,594						183,594						—
Residential real estate			809						94						903						203,486						204,389						39
Commercial real estate			—						—						—						835,587						835,587						—
Consumer and other loans			3,901						1,467						5,368						103,503						108,871						1,467
			$	4,969					$	1,599					$	6,568					$	1,744,933					$	1,751,501					$	1,506
Less net deferred origination fees and premiums																											(8,766)
Loans receivable																											$	1,742,735

Summary of Information Pertaining to Impaired Loans

The following table is a summary of information pertaining to impaired loans as of the period indicated. Loans originated through CCBX partners are reported using pool accounting and are not subject to individual impairment analysis, therefore CCBX loans are not included in this table.

			Unpaid Contractual Principal Balance						Recorded Investment With No Allowance						Recorded Investment With Allowance						Total Recorded Investment						Related Allowance
			(dollars in thousands)
December 31, 2022
Commercial and industrial loans			$	124					$	—					$	113					$	113					$	95
Real estate loans:
Construction, land and land development			67						66						—						66						—
Residential real estate			—						—						—						—						—
Commercial real estate			6,901						6,901						—						6,901						—
Total			$	7,092					$	6,967					$	113					$	7,080					$	95
December 31, 2021
Commercial and industrial loans			$	173					$	—					$	166					$	166					$	132
Real estate loans:
Residential real estate			69						55						—						55						—
Total			$	242					$	55					$	166					$	221					$	132

Summary of Average Recorded Investment and Interest Income Recognized on Impaired Loans

The following tables summarize the average recorded investment and interest income recognized on impaired loans by loan class for the year ended December 31, 2022 and 2021:

			December 31, 2022												December 31, 2021
			Average Recorded Investment						Interest Income Recognized						Average Recorded Investment						Interest Income Recognized
			(dollars in thousands)
Commercial and industrial loans			$	121					$	—					$	498					$	—
Real estate loans:
Construction, land and land development			40						—						—						—
Residential real estate			32						—						143						—
Commercial real estate			1,395						—						—						—
Total			$	1,588					$	—					$	641					$	—

Analysis of Nonaccrual Loans by Category

An analysis of nonaccrual loans by category consisted of the following at the periods indicated:

			December 31,						December 31,
			2022						2021
			(dollars in thousands)
Commercial and industrial loans			$	113					$	166
Real estate loans:
Construction, land and land development			66						—
Residential real estate			—						55
Commercial real estate			6,901						—
Total nonaccrual loans			$	7,080					$	221

Summary of Loans by Credit Quality Risk Rating

Loans by credit quality risk rating are as follows as of the periods indicated:

			Pass						Other Loans Especially Mentioned						Sub- Standard						Doubtful						Total
			(dollars in thousands)
December 31, 2022
Commercial and industrial loans			$	304,840					$	7,219					$	569					$	—					$	312,628
Real estate loans:
Construction, land, and land development			206,304						7,685						66						—						214,055
Residential real estate			448,185						96						876						—						449,157
Commercial real estate			1,030,650						11,201						6,901						—						1,048,752
Consumer and other loans			583,956						—						24,815						—						608,771
			$	2,573,935					$	26,201					$	33,227					$	—					2,633,363
Less net deferred origination fees																											(6,107)
Loans receivable																											$	2,627,256
December 31, 2021
Commercial and industrial loans			$	416,642					$	2,180					$	238					$	—					$	419,060
Real estate loans:
Construction, land, and land development			183,594						—						—						—						183,594
Residential real estate			204,173						122						94						—						204,389
Commercial real estate			824,676						10,911						—						—						835,587
Consumer and other loans			107,404						—						1,467						—						108,871
			$	1,736,489					$	13,213					$	1,799					$	—					1,751,501
Less net deferred origination fees																											(8,766)
Loans receivable																											$	1,742,735

Summary of Allocation of Allowance for Loan Loss as well as Activity in Allowance for Loan Loss Attributed to Various Segments in Loan

The following tables summarize the allocation of the allowance for loan loss, as well as the activity in the allowance for loan loss attributed to various segments in the loan portfolio, as of and for the year ended December 31, 2022.

			Commercial and Industrial						Construction, Land, and Land Development						Residential Real Estate						Commercial Real Estate						Consumer and Other						Unallocated						Total
			(dollars in thousands)
Twelve Months Ended December 31, 2022
ALLL balance, December 31, 2021			$	3,221					$	6,984					$	4,598					$	6,590					$	7,092					$	147					$	28,632
Provision for loan losses or (recapture)			2,125						441						(4)						(1,120)						76,604						1,018						79,064
			5,346						7,425						4,594						5,470						83,696						1,165						107,696
Loans charged-off			(555)						—						(452)						—						(32,742)						—						(33,749)
Recoveries of loans previously charged-off			40						—						—						—						42						—						82
Net (charge-offs) recoveries			(515)						—						(452)						—						(32,700)						—						(33,667)
ALLL balance, December 31, 2022			$	4,831					$	7,425					$	4,142					$	5,470					$	50,996					$	1,165					$	74,029
As of December 31, 2022
ALLL amounts allocated to
Individually evaluated for impairment			$	95					$	—					$	—					$	—					$	—					$	—					$	95
Collectively evaluated for impairment			4,736						7,425						4,142						5,470						50,996						1,165						73,934
ALLL balance, December 31, 2022			$	4,831					$	7,425					$	4,142					$	5,470					$	50,996					$	1,165					$	74,029
Loans individually evaluated for impairment			$	113					$	66					$	—					$	6,901					$	—											$	7,080
Loans collectively evaluated for impairment			312,515						213,989						449,157						1,041,851						608,771												2,626,283
Loan balance, December 31, 2022			$	312,628					$	214,055					$	449,157					$	1,048,752					$	608,771											$	2,633,363
As of December 31, 2021
Loan balance, December 31, 2021			$	419,060					$	183,594					$	204,389					$	835,587					$	108,871											$	1,751,501

The following tables summarize the allocation of the allowance for loan loss, as well as the activity in the allowance for loan loss attributed to various segments in the loan portfolio, as of and for the year ended December 31, 2021:

			Commercial and Industrial						Construction, Land, and Land Development						Residential Real Estate						Commercial Real Estate						Consumer and Other						Unallocated						Total
			(dollars in thousands)
Twelve Months Ended December 31, 2021
Balance, December 31, 2020			$	3,353					$	3,545					$	3,410					$	7,810					$	127					$	1,017					$	19,262
Provision for loan losses or (recapture)			23						3,439						1,267						(1,220)						7,276						(870)						9,915
			3,376						6,984						4,677						6,590						7,403						147						29,177
Loans charged-off			(222)						—						(79)						—						(339)						—						(640)
Recoveries of loans previously charged-off			67						—						—						—						28						—						95
Net (charge-offs) recoveries			(155)						—						(79)						—						(311)						—						(545)
Balance, December 31, 2021			$	3,221					$	6,984					$	4,598					$	6,590					$	7,092					$	147					$	28,632
As of December 31, 2021
ALLL amounts allocated to
Individually evaluated for impairment			$	132					$	—					$	—					$	—					$	—					$	—					$	132
Collectively evaluated for impairment			3,089						6,984						4,598						6,590						7,092						147						28,500
ALLL balance, December 31, 2021			$	3,221					$	6,984					$	4,598					$	6,590					$	7,092					$	147					$	28,632
Loans individually evaluated for impairment			$	166					$	—					$	55					$	—					$	—											$	221
Loans collectively evaluated for impairment			418,894						183,594						204,334						835,587						108,871												1,751,280
Loan balance, December 31, 2021			$	419,060					$	183,594					$	204,389					$	835,587					$	108,871											$	1,751,501
As of December 31, 2020
Loan balance, December 31, 2020			$	539,200					$	94,423					$	143,869					$	774,925					$	3,916											$	1,556,333

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