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Note 5 - Allowance for Loan Losses | 3 Months Ended
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Mar. 31, 2017
Notes to Financial Statements |
Allowance for Credit Losses [Text Block] | Note 5. Allowance for Loan Losses The following tables present the changes in the allowance for loan losses, by loan segment, during the periods indicated:
|  | Three Months Ended March 31, 2017 |
(Amounts in thousands) |  | Commercial |  |  | Consumer Real Estate |  |  | Consumer and Other |  |  | Total Allowance |
Allowance, excluding PCI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 11,690 |  |  | $ | 5,487 |  |  | $ | 759 |  |  | $ | 17,936 |
Provision for loan losses charged to operations |  |  | 85 |  |  |  | 246 |  |  |  | 161 |  |  |  | 492 |
Charge-offs |  |  | (29 | ) |  |  | (77 | ) |  |  | (251 | ) |  |  | (357 | )
Recoveries |  |  | 226 |  |  |  | 78 |  |  |  | 71 |  |  |  | 375 |
Net recoveries (charge-offs) |  |  | 197 |  |  |  | 1 |  |  |  | (180 | ) |  |  | 18 |
Ending balance |  | $ | 11,972 |  |  | $ | 5,734 |  |  | $ | 740 |  |  | $ | 18,446 |
PCI allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | - |  |  | $ | 12 |  |  | $ | - |  |  | $ | 12 |
Recovery of loan losses |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Recovery of loan losses charged to operations |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Ending balance |  | $ | - |  |  | $ | 12 |  |  | $ | - |  |  | $ | 12 |
Total allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 11,690 |  |  | $ | 5,499 |  |  | $ | 759 |  |  | $ | 17,948 |
Provision for loan losses |  |  | 85 |  |  |  | 246 |  |  |  | 161 |  |  |  | 492 |
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Provision for loan losses charged to operations |  |  | 85 |  |  |  | 246 |  |  |  | 161 |  |  |  | 492 |
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Charge-offs |  |  | (29 | ) |  |  | (77 | ) |  |  | (251 | ) |  |  | (357 | )
Recoveries |  |  | 226 |  |  |  | 78 |  |  |  | 71 |  |  |  | 375 |
Net recoveries (charge-offs) |  |  | 197 |  |  |  | 1 |  |  |  | (180 | ) |  |  | 18 |
Ending balance |  | $ | 11,972 |  |  | $ | 5,746 |  |  | $ | 740 |  |  | $ | 18,458 |
|  | Three Months Ended March 31, 2016 |
(Amounts in thousands) |  | Commercial |  |  | Consumer Real Estate |  |  | Consumer and Other |  |  | Total Allowance |
Allowance, excluding PCI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 13,133 |  |  | $ | 6,356 |  |  | $ | 690 |  |  | $ | 20,179 |
Provision for loan losses charged to operations |  |  | 308 |  |  |  | 774 |  |  |  | 144 |  |  |  | 1,226 |
Charge-offs |  |  | (284 | ) |  |  | (690 | ) |  |  | (254 | ) |  |  | (1,228 | )
Recoveries |  |  | 113 |  |  |  | 30 |  |  |  | 123 |  |  |  | 266 |
Net charge-offs |  |  | (171 | ) |  |  | (660 | ) |  |  | (131 | ) |  |  | (962 | )
Ending balance |  | $ | 13,270 |  |  | $ | 6,470 |  |  | $ | 703 |  |  | $ | 20,443 |
PCI allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | - |  |  | $ | 54 |  |  | $ | - |  |  | $ | 54 |
Recovery of loan losses |  |  | - |  |  |  | (30 | ) |  |  | - |  |  |  | (30 | )
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | (9 | ) |  |  | - |  |  |  | (9 | )
Recovery of loan losses charged to operations |  |  | - |  |  |  | (39 | ) |  |  | - |  |  |  | (39 | )
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | 9 |  |  |  | - |  |  |  | 9 |
Ending balance |  | $ | - |  |  | $ | 24 |  |  | $ | - |  |  | $ | 24 |
Total allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 13,133 |  |  | $ | 6,410 |  |  | $ | 690 |  |  | $ | 20,233 |
Provision for loan losses |  |  | 308 |  |  |  | 744 |  |  |  | 144 |  |  |  | 1,196 |
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | (9 | ) |  |  | - |  |  |  | (9 | )
Provision for loan losses charged to operations |  |  | 308 |  |  |  | 735 |  |  |  | 144 |  |  |  | 1,187 |
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | 9 |  |  |  | - |  |  |  | 9 |
Charge-offs |  |  | (284 | ) |  |  | (690 | ) |  |  | (254 | ) |  |  | (1,228 | )
Recoveries |  |  | 113 |  |  |  | 30 |  |  |  | 123 |  |  |  | 266 |
Net charge-offs |  |  | (171 | ) |  |  | (660 | ) |  |  | (131 | ) |  |  | (962 | )
Ending balance |  | $ | 13,270 |  |  | $ | 6,494 |  |  | $ | 703 |  |  | $ | 20,467 |
The following tables present the allowance for loan losses and recorded investment in loans evaluated for impairment, excluding PCI loans, by loan class, as of the dates indicated:
|  | March 31, 2017 |
(Amounts in thousands) |  | Loans Individually Evaluated for Impairment |  |  | Allowance for Loans Individually Evaluated |  |  | Loans Collectively Evaluated for Impairment |  |  | Allowance for Loans Collectively Evaluated |
Commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, development, and other land |  | $ | 434 |  |  | $ | 10 |  |  | $ | 64,288 |  |  | $ | 978 |
Commercial and industrial |  |  | 2,393 |  |  |  | 235 |  |  |  | 86,614 |  |  |  | 410 |
Multi-family residential |  |  | 274 |  |  |  | - |  |  |  | 143,574 |  |  |  | 1,277 |
Single family non-owner occupied |  |  | 1,893 |  |  |  | 65 |  |  |  | 140,140 |  |  |  | 2,433 |
Non-farm, non-residential |  |  | 1,974 |  |  |  | 158 |  |  |  | 584,339 |  |  |  | 6,232 |
Agricultural |  |  | - |  |  |  | - |  |  |  | 6,158 |  |  |  | 45 |
Farmland |  |  | 542 |  |  |  | - |  |  |  | 29,086 |  |  |  | 129 |
Total commercial loans |  |  | 7,510 |  |  |  | 468 |  |  |  | 1,054,199 |  |  |  | 11,504 |
Consumer real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines |  |  | 419 |  |  |  | 21 |  |  |  | 119,340 |  |  |  | 862 |
Single family owner occupied |  |  | 7,774 |  |  |  | 781 |  |  |  | 497,857 |  |  |  | 3,826 |
Owner occupied construction |  |  | - |  |  |  | - |  |  |  | 45,346 |  |  |  | 244 |
Total consumer real estate loans |  |  | 8,193 |  |  |  | 802 |  |  |  | 662,543 |  |  |  | 4,932 |
Consumer and other loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer loans |  |  | - |  |  |  | - |  |  |  | 73,634 |  |  |  | 740 |
Other |  |  | - |  |  |  | - |  |  |  | 4,147 |  |  |  | - |
Total consumer and other loans |  |  | - |  |  |  | - |  |  |  | 77,781 |  |  |  | 740 |
Total loans, excluding PCI loans |  | $ | 15,703 |  |  | $ | 1,270 |  |  | $ | 1,794,523 |  |  | $ | 17,176 |
|  | December 31, 2016 |
(Amounts in thousands) |  | Loans Individually Evaluated for Impairment |  |  | Allowance for Loans Individually Evaluated |  |  | Loans Collectively Evaluated for Impairment |  |  | Allowance for Loans Collectively Evaluated |
Commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, development, and other land |  | $ | - |  |  | $ | - |  |  | $ | 60,281 |  |  | $ | 889 |
Commercial and industrial |  |  | - |  |  |  | - |  |  |  | 93,099 |  |  |  | 495 |
Multi-family residential |  |  | 281 |  |  |  | - |  |  |  | 133,947 |  |  |  | 1,157 |
Single family non-owner occupied |  |  | 1,910 |  |  |  | 31 |  |  |  | 139,711 |  |  |  | 2,721 |
Non-farm, non-residential |  |  | 1,454 |  |  |  | - |  |  |  | 600,915 |  |  |  | 6,185 |
Agricultural |  |  | - |  |  |  | - |  |  |  | 6,028 |  |  |  | 43 |
Farmland |  |  | 981 |  |  |  | 18 |  |  |  | 31,145 |  |  |  | 151 |
Total commercial loans |  |  | 4,626 |  |  |  | 49 |  |  |  | 1,065,126 |  |  |  | 11,641 |
Consumer real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines |  |  | - |  |  |  | - |  |  |  | 122,000 |  |  |  | 895 |
Single family owner occupied |  |  | 5,120 |  |  |  | 770 |  |  |  | 501,617 |  |  |  | 3,594 |
Owner occupied construction |  |  | 336 |  |  |  | - |  |  |  | 44,199 |  |  |  | 228 |
Total consumer real estate loans |  |  | 5,456 |  |  |  | 770 |  |  |  | 667,816 |  |  |  | 4,717 |
Consumer and other loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer loans |  |  | - |  |  |  | - |  |  |  | 77,524 |  |  |  | 759 |
Other |  |  | - |  |  |  | - |  |  |  | 3,971 |  |  |  | - |
Total consumer and other loans |  |  | - |  |  |  | - |  |  |  | 81,495 |  |  |  | 759 |
Total loans, excluding PCI loans |  | $ | 10,082 |  |  | $ | 819 |  |  | $ | 1,814,437 |  |  | $ | 17,117 |
The following table presents the allowance for loan losses on PCI loans and recorded investment in PCI loans, by loan pool, as of the dates indicated:
|  | March 31, 2017 |  |  | December 31, 2016 |
(Amounts in thousands) |  | Recorded Investment |  |  | Allowance for Loan Pools With Impairment |  |  | Recorded Investment |  |  | Allowance for Loan Pools With Impairment |
Commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Waccamaw commercial |  | $ | 194 |  |  | $ | - |  |  | $ | 260 |  |  | $ | - |
Peoples commercial |  |  | 4,014 |  |  |  | - |  |  |  | 4,491 |  |  |  | - |
Other |  |  | 1,071 |  |  |  | - |  |  |  | 1,095 |  |  |  | - |
Total commercial loans |  |  | 5,279 |  |  |  | - |  |  |  | 5,846 |  |  |  | - |
Consumer real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Waccamaw serviced home equity lines |  |  | 18,001 |  |  |  | - |  |  |  | 20,178 |  |  |  | - |
Waccamaw residential |  |  | 1,214 |  |  |  | - |  |  |  | 1,320 |  |  |  | - |
Peoples residential |  |  | 1,064 |  |  |  | 12 |  |  |  | 1,085 |  |  |  | 12 |
Total consumer real estate loans |  |  | 20,279 |  |  |  | 12 |  |  |  | 22,583 |  |  |  | 12 |
Total PCI loans |  | $ | 25,558 |  |  | $ | 12 |  |  | $ | 28,429 |  |  | $ | 12 |
Management believed the allowance was adequate to absorb probable loan losses inherent in the loan portfolio as of March 31, 2017.

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