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LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Summary of Loan Portfolio, Excluding Residential Loans Held for Sale, Broken Out by Classes

The following table presents the loan portfolio by segment and class, excluding residential mortgage LHFS, at March 31, 2022 and December 31, 2021:

			March 31, 2022						December 31, 2021
Commercial real estate:
Owner occupied			$	256,526					$	238,668
Non-owner occupied			558,999						551,783
Multi-family			93,158						93,255
Non-owner occupied residential			102,269						106,112
Acquisition and development:
1-4 family residential construction			15,115						12,279
Commercial and land development			105,204						93,925
Commercial and industrial (1)			443,170						485,728
Municipal			14,626						14,989
Residential mortgage:
First lien			203,231						198,831
Home equity - term			5,820						6,081
Home equity - lines of credit			164,818						160,705
Installment and other loans			15,371						17,630
Total loans			$	1,978,307					$	1,979,986

(1) This balance includes $122.5 million and $189.9 million of SBA PPP loans, net of deferred fees and costs, at March 31, 2022 and December 31, 2021, respectively.

Loan Portfolio Ratings Based on Internal Risk Rating System

The following table summarizes the Company’s loan portfolio ratings based on its internal risk rating system at March 31, 2022 and December 31, 2021:

			Pass						Special Mention						Non-Impaired Substandard						Impaired - Substandard						Doubtful						PCI Loans						Total
March 31, 2022
Commercial real estate:
Owner occupied			$	242,529					$	6,360					$	2,277					$	3,062					$	—					$	2,298					$	256,526
Non-owner occupied			537,505						18,771						2,419						—						—						304						558,999
Multi-family			84,541						8,158						459						—						—						—						93,158
Non-owner occupied residential			99,545						1,005						1,014						100						—						605						102,269
Acquisition and development:
1-4 family residential construction			15,115						—						—						—						—						—						15,115
Commercial and land development			103,486						1,236						482						—						—						—						105,204
Commercial and industrial			424,425						7,642						8,792						161						—						2,150						443,170
Municipal			14,626						—						—						—						—						—						14,626
Residential mortgage:
First lien			196,217						—						221						2,278						—						4,515						203,231
Home equity - term			5,798						—						—						6						—						16						5,820
Home equity - lines of credit			164,327						19						46						426						—						—						164,818
Installment and other loans			15,314						—						—						52						—						5						15,371
			$	1,903,428					$	43,191					$	15,710					$	6,085					$	—					$	9,893					$	1,978,307
December 31, 2021
Commercial real estate:
Owner occupied			$	219,250					$	7,239					$	6,087					$	3,763					$	—					$	2,329					$	238,668
Non-owner occupied			528,010						23,297						166						—						—						310						551,783
Multi-family			84,414						8,238						603						—						—						—						93,255
Non-owner occupied residential			102,588						1,065						1,153						122						—						1,184						106,112
Acquisition and development:
1-4 family residential construction			12,279						—						—						—						—						—						12,279
Commercial and land development			92,049						1,385						491						—						—						—						93,925
Commercial and industrial			470,579						7,917						4,720						250						—						2,262						485,728
Municipal			14,989						—						—						—						—						—						14,989
Residential mortgage:
First lien			191,386						—						225						2,635						—						4,585						198,831
Home equity - term			6,058						—						—						7						—						16						6,081
Home equity - lines of credit			160,203						20						46						436						—						—						160,705
Installment and other loans			17,584						—						—						40						—						6						17,630
			$	1,899,389					$	49,161					$	13,491					$	7,253					$	—					$	10,692					$	1,979,986

Impaired Loans by Segment and Class

The following table, which excludes accruing PCI loans, summarizes impaired loans by segment and class, segregated by those for which a specific allowance was required and those for which a specific allowance was not required at March 31, 2022 and December 31, 2021. The recorded investment in loans excludes accrued interest receivable due to insignificance. Related allowances established generally pertain to those loans in which loan forbearance agreements were in the process of being negotiated or updated appraisals were pending, and any partial charge-off will be recorded when final information is received.

			Impaired Loans with a Specific Allowance																		Impaired Loans with No Specific Allowance
			Recorded Investment (Book Balance)						Unpaid Principal Balance (Legal Balance)						Related Allowance						Recorded Investment (Book Balance)						Unpaid Principal Balance (Legal Balance)
March 31, 2022
Commercial real estate:
Owner-occupied			$	—					$	—					$	—					$	3,062					$	4,840
Non-owner occupied residential			—						—						—						100						214
Commercial and industrial			—						—						—						161						447
Residential mortgage:
First lien			338						338						29						1,940						2,938
Home equity—term			—						—						—						6						9
Home equity—lines of credit			—						—						—						426						651
Installment and other loans			—						—						—						52						52
			$	338					$	338					$	29					$	5,747					$	9,151
December 31, 2021
Commercial real estate:
Owner-occupied			$	—					$	—					$	—					$	3,763					$	4,902
Non-owner occupied residential			—						—						—						122						259
Commercial and industrial			—						—						—						250						547
Residential mortgage:
First lien			341						341						28						2,294						3,337
Home equity—term			—						—						—						7						10
Home equity—lines of credit			—						—						—						436						653
Installment and other loans			—						—						—						40						40
			$	341					$	341					$	28					$	6,912					$	9,748

Average Recorded Investment in Impaired Loans and Related Interest Income

The following table, which excludes accruing PCI loans, summarizes the average recorded investment in impaired loans and related recognized interest income for the three months ended March 31, 2022 and 2021:

			2022												2021
			Average Impaired Balance						Interest Income Recognized						Average Impaired Balance						Interest Income Recognized
Three Months Ended March 31,
Commercial real estate:
Owner occupied			$	3,422					$	—					$	3,448					$	1
Multi-family			—						—						19						—
Non-owner occupied residential			107						—						267						—
Acquisition and development:
Commercial and land development			—						—						614						—
Commercial and industrial			218						—						2,878						—
Residential mortgage:
First lien			2,406						7						2,636						11
Home equity - term			7						—						12						—
Home equity - lines of credit			432						—						616						—
Installment and other loans			45						—						15						—
			$	6,637					$	7					$	10,505					$	12

Troubled Debt Restructurings

The following table presents impaired loans that are TDRs, with the recorded investment at March 31, 2022 and December 31, 2021:

			March 31, 2022												December 31, 2021
			Number of Contracts						Recorded Investment						Number of Contracts						Recorded Investment
Accruing:
Residential mortgage:
First lien			7						$	575					8						$	804
Nonaccruing:
Residential mortgage:
First lien			6						276						5						285
			13						$	851					13						$	1,089

Loan Portfolio Summarized by Aging Categories of Performing Loans and Nonaccrual Loans

The following table presents the classes of loan portfolio summarized by aging categories of performing loans and nonaccrual loans at March 31, 2022 and December 31, 2021:

									Days Past Due
			Current						30-59						60-89						90+ (still accruing)						Total Past Due						Non- Accrual						Total Loans
March 31, 2022
Commercial real estate:
Owner occupied			$	250,844					$	322					$	—					$	—					$	322					$	3,062					$	254,228
Non-owner occupied			558,695						—						—						—						—						—						558,695
Multi-family			93,158						—						—						—						—						—						93,158
Non-owner occupied residential			101,254						310						—						—						310						100						101,664
Acquisition and development:
1-4 family residential construction			15,115						—						—						—						—						—						15,115
Commercial and land development			105,204						—						—						—						—						—						105,204
Commercial and industrial			440,652						207						—						—						207						161						441,020
Municipal			14,626						—						—						—						—						—						14,626
Residential mortgage:
First lien			194,216						2,741						—						56						2,797						1,703						198,716
Home equity - term			5,786						12						—						—						12						6						5,804
Home equity - lines of credit			163,725						437						230						—						667						426						164,818
Installment and other loans			15,231						83						—						—						83						52						15,366
Subtotal			1,958,506						4,112						230						56						4,398						5,510						1,968,414
Loans acquired with credit deterioration:
Commercial real estate:
Owner occupied			2,298						—						—						—						—						—						2,298
Non-owner occupied			304						—						—						—						—						—						304
Non-owner occupied residential			494						—						—						111						111						—						605
Commercial and industrial			2,150						—						—						—						—						—						2,150
Residential mortgage:
First lien			3,837						608						—						70						678						—						4,515
Home equity - term			15						—						—						1						1						—						16
Installment and other loans			2						3						—						—						3						—						5
Subtotal			9,100						611						—						182						793						—						9,893
			$	1,967,606					$	4,723					$	230					$	238					$	5,191					$	5,510					$	1,978,307

									Days Past Due
			Current						30-59						60-89						90+ (still accruing)						Total Past Due						Non- Accrual						Total Loans
December 31, 2021
Commercial real estate:
Owner occupied			$	231,371					$	314					$	—					$	891					$	1,205					$	3,763					$	236,339
Non-owner occupied			551,473						—						—						—						—						—						551,473
Multi-family			93,255						—						—						—						—						—						93,255
Non-owner occupied residential			104,645						161						—						—						161						122						104,928
Acquisition and development:
1-4 family residential construction			12,279						—						—						—						—						—						12,279
Commercial and land development			93,793						132						—						—						132						—						93,925
Commercial and industrial			483,088						128						—						—						128						250						483,466
Municipal			14,989						—						—						—						—						—						14,989
Residential mortgage:
First lien			189,043						2,995						281						96						3,372						1,831						194,246
Home equity - term			6,042						16						—						—						16						7						6,065
Home equity - lines of credit			159,628						641						—						—						641						436						160,705
Installment and other loans			17,467						109						8						—						117						40						17,624
Subtotal			1,957,073						4,496						289						987						5,772						6,449						1,969,294
Loans acquired with credit deterioration:
Commercial real estate:
Owner occupied			2,329						—						—						—						—						—						2,329
Non-owner occupied			310						—						—						—						—						—						310
Non-owner occupied residential			479						—						587						118						705						—						1,184
Commercial and industrial			2,262						—						—						—						—						—						2,262
Residential mortgage:
First lien			3,937						387						166						95						648						—						4,585
Home equity - term			15						—						—						1						1						—						16
Installment and other loans			6						—						—						—						—						—						6
Subtotal			9,338						387						753						214						1,354						—						10,692
			$	1,966,411					$	4,883					$	1,042					$	1,201					$	7,126					$	6,449					$	1,979,986

Summary of Activity in the ALL and Ending Loan Balances Individually Evaluated for Impairment Based on Loan Segment

The following table presents the activity in the ALL for the three months ended March 31, 2022 and 2021:

			Commercial																														Consumer
			Commercial Real Estate						Acquisition and Development						Commercial and Industrial						Municipal						Total						Residential Mortgage						Installment and Other						Total						Unallocated						Total
Three Months Ended
March 31, 2022
Balance, beginning of period			$	12,037					$	2,062					$	3,814					$	30					$	17,943					$	2,785					$	215					$	3,000					$	237					$	21,180
Provision for loan losses			(523)						258						500						(1)						234						72						(6)						66						—						300
Charge-offs			—						—						(61)						—						(61)						(10)						(13)						(23)						—						(84)
Recoveries			32						1						48						—						81						26						5						31						—						112
Balance, end of period			$	11,546					$	2,321					$	4,301					$	29					$	18,197					$	2,873					$	201					$	3,074					$	237					$	21,508
March 31, 2021
Balance, beginning of period			$	11,151					$	1,114					$	3,942					$	40					$	16,247					$	3,362					$	324					$	3,686					$	218					$	20,151
Provision for loan losses			(494)						(69)						(54)						(2)						(619)						(289)						(106)						(395)						14						(1,000)
Charge-offs			—						—						(454)						—						(454)						(21)						(20)						(41)						—						(495)
Recoveries			14						1						280						—						295						6						10						16						—						311
Balance, end of period			$	10,671					$	1,046					$	3,714					$	38					$	15,469					$	3,058					$	208					$	3,266					$	232					$	18,967

The following table summarizes the ending loan balance individually evaluated for impairment based upon loan segment, as well as the related ALL loss allocation for each at March 31, 2022 and December 31, 2021. Accruing PCI loans are excluded from loans individually evaluated for impairment.

			Commercial																														Consumer
			Commercial Real Estate						Acquisition and Development						Commercial and Industrial						Municipal						Total						Residential Mortgage						Installment and Other						Total						Unallocated						Total
March 31, 2022
Loans allocated by:
Individually evaluated for impairment			$	3,162					$	—					$	161					$	—					$	3,323					$	2,710					$	52					$	2,762					$	—					$	6,085
Collectively evaluated for impairment			1,007,790						120,319						443,009						14,626						1,585,744						371,159						15,319						386,478						—						1,972,222
			$	1,010,952					$	120,319					$	443,170					$	14,626					$	1,589,067					$	373,869					$	15,371					$	389,240					$	—					$	1,978,307
ALL allocated by:
Individually evaluated for impairment			$	—					$	—					$	—					$	—					$	—					$	29					$	—					$	29					$	—					$	29
Collectively evaluated for impairment			11,546						2,321						4,301						29						18,197						2,844						201						3,045						237						21,479
			$	11,546					$	2,321					$	4,301					$	29					$	18,197					$	2,873					$	201					$	3,074					$	237					$	21,508
December 31, 2021
Loans allocated by:
Individually evaluated for impairment			$	3,885					$	—					$	250					$	—					$	4,135					$	3,078					$	40					$	3,118					$	—					$	7,253
Collectively evaluated for impairment			985,933						106,204						485,478						14,989						1,592,604						362,539						17,590						380,129						—						1,972,733
			$	989,818					$	106,204					$	485,728					$	14,989					$	1,596,739					$	365,617					$	17,630					$	383,247					$	—					$	1,979,986
ALL allocated by:
Individually evaluated for impairment			$	—					$	—					$	—					$	—					$	—					$	28					$	—					$	28					$	—					$	28
Collectively evaluated for impairment			12,037						2,062						3,814						30						17,943						2,757						215						2,972						237						21,152
			$	12,037					$	2,062					$	3,814					$	30					$	17,943					$	2,785					$	215					$	3,000					$	237					$	21,180

Schedule of Activity for the Accretable Yield of Purchased Impaired Loans

The following table provides activity for the accretable yield of purchased impaired loans for the three months ended March 31, 2022 and 2021:

									Three Months Ended
															March 31, 2022						March 31, 2021
Accretable yield, beginning of period															$	2,661					$	3,438
Accretion of income															(314)						(466)
Reclassifications from nonaccretable difference due to improvement in expected cash flows															243						44
Other changes, net															(73)						56
Accretable yield, end of period															$	2,517					$	3,072

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-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953682-111524

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