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Note 5 - Allowance for Loan Losses | 9 Months Ended
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Sep. 30, 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 September 30, 2017 |
(Amounts in thousands) |  | Commercial |  |  | Consumer Real Estate |  |  | Consumer and Other |  |  | Total Allowance |
Allowance, excluding PCI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 12,283 |  |  | $ | 5,802 |  |  | $ | 793 |  |  | $ | 18,878 |
Provision for loan losses charged to operations |  |  | 358 |  |  |  | 75 |  |  |  | 305 |  |  |  | 738 |
Charge-offs |  |  | (207 | ) |  |  | (137 | ) |  |  | (373 | ) |  |  | (717 | )
Recoveries |  |  | 170 |  |  |  | 67 |  |  |  | 70 |  |  |  | 307 |
Net charge-offs |  |  | (37 | ) |  |  | (70 | ) |  |  | (303 | ) |  |  | (410 | )
Ending balance |  | $ | 12,604 |  |  | $ | 5,807 |  |  | $ | 795 |  |  | $ | 19,206 |
PCI allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | - |  |  | $ | 8 |  |  | $ | - |  |  | $ | 8 |
Recovery of loan losses |  |  | - |  |  |  | (8 | ) |  |  | - |  |  |  | (8 | )
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Recovery of loan losses charged to operations |  |  | - |  |  |  | (8 | ) |  |  | - |  |  |  | (8 | )
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Ending balance |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Total allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 12,283 |  |  | $ | 5,810 |  |  | $ | 793 |  |  | $ | 18,886 |
Provision for loan losses |  |  | 358 |  |  |  | 67 |  |  |  | 305 |  |  |  | 730 |
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Provision for loan losses charged to operations |  |  | 358 |  |  |  | 67 |  |  |  | 305 |  |  |  | 730 |
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Charge-offs |  |  | (207 | ) |  |  | (137 | ) |  |  | (373 | ) |  |  | (717 | )
Recoveries |  |  | 170 |  |  |  | 67 |  |  |  | 70 |  |  |  | 307 |
Net charge-offs |  |  | (37 | ) |  |  | (70 | ) |  |  | (303 | ) |  |  | (410 | )
Ending balance |  | $ | 12,604 |  |  | $ | 5,807 |  |  | $ | 795 |  |  | $ | 19,206 |
|  | Three Months Ended September 30, 2016 |
(Amounts in thousands) |  | Commercial |  |  | Consumer Real Estate |  |  | Consumer and Other |  |  | Total Allowance |
Allowance, excluding PCI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 13,689 |  |  | $ | 6,625 |  |  | $ | 773 |  |  | $ | 21,087 |
(Recovery of) provision for loan losses charged to operations |  |  | (726 | ) |  |  | (575 | ) |  |  | 147 |  |  |  | (1,154 | )
Charge-offs |  |  | (272 | ) |  |  | (207 | ) |  |  | (293 | ) |  |  | (772 | )
Recoveries |  |  | 295 |  |  |  | 89 |  |  |  | 76 |  |  |  | 460 |
Net recoveries (charge-offs) |  |  | 23 |  |  |  | (118 | ) |  |  | (217 | ) |  |  | (312 | )
Ending balance |  | $ | 12,986 |  |  | $ | 5,932 |  |  | $ | 703 |  |  | $ | 19,621 |
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 |  | $ | 13,689 |  |  | $ | 6,637 |  |  | $ | 773 |  |  | $ | 21,099 |
(Recovery of) provision for loan losses |  |  | (726 | ) |  |  | (575 | ) |  |  | 147 |  |  |  | (1,154 | )
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
(Recovery of) provision for loan losses charged to operations |  |  | (726 | ) |  |  | (575 | ) |  |  | 147 |  |  |  | (1,154 | )
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Charge-offs |  |  | (272 | ) |  |  | (207 | ) |  |  | (293 | ) |  |  | (772 | )
Recoveries |  |  | 295 |  |  |  | 89 |  |  |  | 76 |  |  |  | 460 |
Net recoveries (charge-offs) |  |  | 23 |  |  |  | (118 | ) |  |  | (217 | ) |  |  | (312 | )
Ending balance |  | $ | 12,986 |  |  | $ | 5,944 |  |  | $ | 703 |  |  | $ | 19,633 |
|  | Nine Months Ended September 30, 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 |  |  | 822 |  |  |  | 561 |  |  |  | 785 |  |  |  | 2,168 |
Charge-offs |  |  | (493 | ) |  |  | (535 | ) |  |  | (948 | ) |  |  | (1,976 | )
Recoveries |  |  | 585 |  |  |  | 294 |  |  |  | 199 |  |  |  | 1,078 |
Net recoveries (charge-offs) |  |  | 92 |  |  |  | (241 | ) |  |  | (749 | ) |  |  | (898 | )
Ending balance |  | $ | 12,604 |  |  | $ | 5,807 |  |  | $ | 795 |  |  | $ | 19,206 |
PCI allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | - |  |  | $ | 12 |  |  | $ | - |  |  | $ | 12 |
Recovery of loan losses |  |  | - |  |  |  | (12 | ) |  |  | - |  |  |  | (12 | )
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Recovery of loan losses charged to operations |  |  | - |  |  |  | (12 | ) |  |  | - |  |  |  | (12 | )
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Ending balance |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Total allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 11,690 |  |  | $ | 5,499 |  |  | $ | 759 |  |  | $ | 17,948 |
Provision for loan losses |  |  | 822 |  |  |  | 549 |  |  |  | 785 |  |  |  | 2,156 |
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Provision for loan losses charged to operations |  |  | 822 |  |  |  | 549 |  |  |  | 785 |  |  |  | 2,156 |
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Charge-offs |  |  | (493 | ) |  |  | (535 | ) |  |  | (948 | ) |  |  | (1,976 | )
Recoveries |  |  | 585 |  |  |  | 294 |  |  |  | 199 |  |  |  | 1,078 |
Net recoveries (charge-offs) |  |  | 92 |  |  |  | (241 | ) |  |  | (749 | ) |  |  | (898 | )
Ending balance |  | $ | 12,604 |  |  | $ | 5,807 |  |  | $ | 795 |  |  | $ | 19,206 |
|  | Nine Months Ended September 30, 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 |
(Recovery of) provision for loan losses charged to operations |  |  | (200 | ) |  |  | 436 |  |  |  | 560 |  |  |  | 796 |
Charge-offs |  |  | (747 | ) |  |  | (1,135 | ) |  |  | (809 | ) |  |  | (2,691 | )
Recoveries |  |  | 800 |  |  |  | 275 |  |  |  | 262 |  |  |  | 1,337 |
Net recoveries (charge-offs) |  |  | 53 |  |  |  | (860 | ) |  |  | (547 | ) |  |  | (1,354 | )
Ending balance |  | $ | 12,986 |  |  | $ | 5,932 |  |  | $ | 703 |  |  | $ | 19,621 |
PCI allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | - |  |  | $ | 54 |  |  | $ | - |  |  | $ | 54 |
Recovery of loan losses |  |  | - |  |  |  | (42 | ) |  |  | - |  |  |  | (42 | )
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | 1 |
Recovery of loan losses charged to operations |  |  | - |  |  |  | (41 | ) |  |  | - |  |  |  | (41 | )
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | (1 | ) |  |  | - |  |  |  | (1 | )
Ending balance |  | $ | - |  |  | $ | 12 |  |  | $ | - |  |  | $ | 12 |
Total allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 13,133 |  |  | $ | 6,410 |  |  | $ | 690 |  |  | $ | 20,233 |
(Recovery of) provision for loan losses |  |  | (200 | ) |  |  | 394 |  |  |  | 560 |  |  |  | 754 |
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | 1 |
(Recovery of) provision for loan losses charged to operations |  |  | (200 | ) |  |  | 395 |  |  |  | 560 |  |  |  | 755 |
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | (1 | ) |  |  | - |  |  |  | (1 | )
Charge-offs |  |  | (747 | ) |  |  | (1,135 | ) |  |  | (809 | ) |  |  | (2,691 | )
Recoveries |  |  | 800 |  |  |  | 275 |  |  |  | 262 |  |  |  | 1,337 |
Net recoveries (charge-offs) |  |  | 53 |  |  |  | (860 | ) |  |  | (547 | ) |  |  | (1,354 | )
Ending balance |  | $ | 12,986 |  |  | $ | 5,944 |  |  | $ | 703 |  |  | $ | 19,633 |
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:
|  | September 30, 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 |  | $ | - |  |  | $ | - |  |  | $ | 72,293 |  |  | $ | 1,099 |
Commercial and industrial |  |  | 2,400 |  |  |  | 262 |  |  |  | 87,782 |  |  |  | 478 |
Multi-family residential |  |  | 254 |  |  |  | - |  |  |  | 125,743 |  |  |  | 1,133 |
Single family non-owner occupied |  |  | 1,103 |  |  |  | 69 |  |  |  | 140,150 |  |  |  | 2,308 |
Non-farm, non-residential |  |  | 2,561 |  |  |  | 325 |  |  |  | 606,773 |  |  |  | 6,706 |
Agricultural |  |  | - |  |  |  | - |  |  |  | 6,096 |  |  |  | 44 |
Farmland |  |  | 940 |  |  |  | 50 |  |  |  | 26,957 |  |  |  | 130 |
Total commercial loans |  |  | 7,258 |  |  |  | 706 |  |  |  | 1,065,794 |  |  |  | 11,898 |
Consumer real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines |  |  | - |  |  |  | - |  |  |  | 116,468 |  |  |  | 825 |
Single family owner occupied |  |  | 8,259 |  |  |  | 754 |  |  |  | 496,264 |  |  |  | 3,852 |
Owner occupied construction |  |  | - |  |  |  | - |  |  |  | 47,034 |  |  |  | 376 |
Total consumer real estate loans |  |  | 8,259 |  |  |  | 754 |  |  |  | 659,766 |  |  |  | 5,053 |
Consumer and other loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer loans |  |  | - |  |  |  | - |  |  |  | 70,695 |  |  |  | 795 |
Other |  |  | - |  |  |  | - |  |  |  | 4,856 |  |  |  | - |
Total consumer and other loans |  |  | - |  |  |  | - |  |  |  | 75,551 |  |  |  | 795 |
Total loans, excluding PCI loans |  | $ | 15,517 |  |  | $ | 1,460 |  |  | $ | 1,801,111 |  |  | $ | 17,746 |
|  | 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:
|  |  | September 30, 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 |  | $ | 452 |  |  | $ | - |  |  | $ | 260 |  |  | $ | - |
Peoples commercial |  |  | 4,159 |  |  |  | - |  |  |  | 4,491 |  |  |  | - |
Other |  |  | 1,011 |  |  |  | - |  |  |  | 1,095 |  |  |  | - |
Total commercial loans |  |  | 5,622 |  |  |  | - |  |  |  | 5,846 |  |  |  | - |
Consumer real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Waccamaw serviced home equity lines |  |  | 13,270 |  |  |  | - |  |  |  | 20,178 |  |  |  | - |
Waccamaw residential |  |  | 1,181 |  |  |  | - |  |  |  | 1,320 |  |  |  | - |
Peoples residential |  |  | 1,020 |  |  |  | - |  |  |  | 1,085 |  |  |  | 12 |
Total consumer real estate loans |  |  | 15,471 |  |  |  | - |  |  |  | 22,583 |  |  |  | 12 |
Total PCI loans |  | $ | 21,093 |  |  | $ | - |  |  | $ | 28,429 |  |  | $ | 12 |
Management believed the allowance was adequate to absorb probable loan losses inherent in the loan portfolio as of September 30, 2017.

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI http://asc.fasb.org/topic&trid=2196771 + Details
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