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Note 5 - Allowance for Loan Losses | 6 Months Ended
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Jun. 30, 2018
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. There was no allowance related to PCI loans as of June 30, 2018, or December 31, 2017.
|  | Three Months Ended June 30, 2018 |
(Amounts in thousands) |  | Commercial |  |  | Consumer Real Estate |  |  | Consumer and Other |  |  | Total Allowance |
Total allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 11,778 |  |  | $ | 6,963 |  |  | $ | 759 |  |  | $ | 19,500 |
(Recovery of) provision for loan losses charged to operations |  |  | (684 | ) |  |  | 906 |  |  |  | 273 |  |  |  | 495 |
Charge-offs |  |  | (328 | ) |  |  | (124 | ) |  |  | (298 | ) |  |  | (750 | )
Recoveries |  |  | 136 |  |  |  | 122 |  |  |  | 80 |  |  |  | 338 |
Net charge-offs |  |  | (192 | ) |  |  | (2 | ) |  |  | (218 | ) |  |  | (412 | )
Ending balance |  | $ | 10,902 |  |  | $ | 7,867 |  |  | $ | 814 |  |  | $ | 19,583 |
|  | Six Months Ended June 30, 2018 |
(Amounts in thousands) |  | Commercial |  |  | Consumer Real Estate |  |  | Consumer and Other |  |  | Total Allowance |
Total allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 11,672 |  |  | $ | 6,810 |  |  | $ | 794 |  |  | $ | 19,276 |
(Recovery of) provision for loan losses charged to operations |  |  | (725 | ) |  |  | 1,143 |  |  |  | 572 |  |  |  | 990 |
Charge-offs |  |  | (469 | ) |  |  | (255 | ) |  |  | (724 | ) |  |  | (1,448 | )
Recoveries |  |  | 424 |  |  |  | 169 |  |  |  | 172 |  |  |  | 765 |
Net charge-offs |  |  | (45 | ) |  |  | (86 | ) |  |  | (552 | ) |  |  | (683 | )
Ending balance |  | $ | 10,902 |  |  | $ | 7,867 |  |  | $ | 814 |  |  | $ | 19,583 |
|  | Three Months Ended June 30, 2017 |
(Amounts in thousands) |  | Commercial |  |  | Consumer Real Estate |  |  | Consumer and Other |  |  | Total Allowance |
Allowance, excluding PCI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 11,972 |  |  | $ | 5,734 |  |  | $ | 740 |  |  | $ | 18,446 |
Provision for loan losses charged to operations |  |  | 379 |  |  |  | 240 |  |  |  | 319 |  |  |  | 938 |
Charge-offs |  |  | (257 | ) |  |  | (321 | ) |  |  | (324 | ) |  |  | (902 | )
Recoveries |  |  | 189 |  |  |  | 149 |  |  |  | 58 |  |  |  | 396 |
Net charge-offs |  |  | (68 | ) |  |  | (172 | ) |  |  | (266 | ) |  |  | (506 | )
Ending balance |  | $ | 12,283 |  |  | $ | 5,802 |  |  | $ | 793 |  |  | $ | 18,878 |
PCI allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | - |  |  | $ | 12 |  |  | $ | - |  |  | $ | 12 |
Recovery of loan losses |  |  | - |  |  |  | (4 | ) |  |  | - |  |  |  | (4 | )
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Recovery of loan losses charged to operations |  |  | - |  |  |  | (4 | ) |  |  | - |  |  |  | (4 | )
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Ending balance |  | $ | - |  |  | $ | 8 |  |  | $ | - |  |  | $ | 8 |
Total allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 11,972 |  |  | $ | 5,746 |  |  | $ | 740 |  |  | $ | 18,458 |
Provision for loan losses |  |  | 379 |  |  |  | 236 |  |  |  | 319 |  |  |  | 934 |
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Provision for loan losses charged to operations |  |  | 379 |  |  |  | 236 |  |  |  | 319 |  |  |  | 934 |
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Charge-offs |  |  | (257 | ) |  |  | (321 | ) |  |  | (324 | ) |  |  | (902 | )
Recoveries |  |  | 189 |  |  |  | 149 |  |  |  | 58 |  |  |  | 396 |
Net charge-offs |  |  | (68 | ) |  |  | (172 | ) |  |  | (266 | ) |  |  | (506 | )
Ending balance |  | $ | 12,283 |  |  | $ | 5,810 |  |  | $ | 793 |  |  | $ | 18,886 |
|  | Six Months Ended June 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 |  |  | 464 |  |  |  | 486 |  |  |  | 480 |  |  |  | 1,430 |
Charge-offs |  |  | (286 | ) |  |  | (398 | ) |  |  | (575 | ) |  |  | (1,259 | )
Recoveries |  |  | 415 |  |  |  | 227 |  |  |  | 129 |  |  |  | 771 |
Net recoveries (charge-offs) |  |  | 129 |  |  |  | (171 | ) |  |  | (446 | ) |  |  | (488 | )
Ending balance |  | $ | 12,283 |  |  | $ | 5,802 |  |  | $ | 793 |  |  | $ | 18,878 |
PCI allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | - |  |  | $ | 12 |  |  | $ | - |  |  | $ | 12 |
Recovery of loan losses |  |  | - |  |  |  | (4 | ) |  |  | - |  |  |  | (4 | )
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Recovery of loan losses charged to operations |  |  | - |  |  |  | (4 | ) |  |  | - |  |  |  | (4 | )
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Ending balance |  | $ | - |  |  | $ | 8 |  |  | $ | - |  |  | $ | 8 |
Total allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 11,690 |  |  | $ | 5,499 |  |  | $ | 759 |  |  | $ | 17,948 |
Provision for loan losses |  |  | 464 |  |  |  | 482 |  |  |  | 480 |  |  |  | 1,426 |
Benefit attributable to the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Provision for loan losses charged to operations |  |  | 464 |  |  |  | 482 |  |  |  | 480 |  |  |  | 1,426 |
Recovery of loan losses recorded through the FDIC indemnification asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Charge-offs |  |  | (286 | ) |  |  | (398 | ) |  |  | (575 | ) |  |  | (1,259 | )
Recoveries |  |  | 415 |  |  |  | 227 |  |  |  | 129 |  |  |  | 771 |
Net recoveries (charge-offs) |  |  | 129 |  |  |  | (171 | ) |  |  | (446 | ) |  |  | (488 | )
Ending balance |  | $ | 12,283 |  |  | $ | 5,810 |  |  | $ | 793 |  |  | $ | 18,886 |
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:
|  | June 30, 2018 |
(Amounts in thousands) |  | Loans Individually Evaluated for Impairment (1) |  |  | Allowance for Loans Individually Evaluated |  |  | Loans Collectively Evaluated for Impairment |  |  | Allowance for Loans Collectively Evaluated |
Commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, development, and other land |  | $ | - |  |  | $ | - |  |  | $ | 57,375 |  |  | $ | 369 |
Commercial and industrial |  |  | - |  |  |  | - |  |  |  | 96,602 |  |  |  | 538 |
Multi-family residential |  |  | - |  |  |  | - |  |  |  | 110,067 |  |  |  | 997 |
Single family non-owner occupied |  |  | - |  |  |  | - |  |  |  | 139,813 |  |  |  | 1,416 |
Non-farm, non-residential |  |  | 1,378 |  |  |  | 473 |  |  |  | 618,953 |  |  |  | 6,783 |
Agricultural |  |  | - |  |  |  | - |  |  |  | 8,895 |  |  |  | 100 |
Farmland |  |  | 929 |  |  |  | 105 |  |  |  | 21,126 |  |  |  | 121 |
Total commercial loans |  |  | 2,307 |  |  |  | 578 |  |  |  | 1,052,831 |  |  |  | 10,324 |
Consumer real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines |  |  | 67 |  |  |  | 67 |  |  |  | 111,616 |  |  |  | 680 |
Single family owner occupied |  |  | 7,043 |  |  |  | 2,434 |  |  |  | 512,818 |  |  |  | 4,525 |
Owner occupied construction |  |  | - |  |  |  | - |  |  |  | 22,647 |  |  |  | 161 |
Total consumer real estate loans |  |  | 7,110 |  |  |  | 2,501 |  |  |  | 647,081 |  |  |  | 5,366 |
Consumer and other loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer loans |  |  | - |  |  |  | - |  |  |  | 68,885 |  |  |  | 814 |
Other |  |  | - |  |  |  | - |  |  |  | 4,636 |  |  |  | - |
Total consumer and other loans |  |  | - |  |  |  | - |  |  |  | 73,521 |  |  |  | 814 |
Total loans, excluding PCI loans |  | $ | 9,417 |  |  | $ | 3,079 |  |  | $ | 1,773,433 |  |  | $ | 16,504 |
|  | December 31, 2017 |
(Amounts in thousands) |  | Loans Individually Evaluated for Impairment (1) |  |  | Allowance for Loans Individually Evaluated |  |  | Loans Collectively Evaluated for Impairment |  |  | Allowance for Loans Collectively Evaluated |
Commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, development, and other land |  | $ | - |  |  | $ | - |  |  | $ | 59,386 |  |  | $ | 830 |
Commercial and industrial |  |  | 343 |  |  |  | 270 |  |  |  | 91,845 |  |  |  | 492 |
Multi-family residential |  |  | - |  |  |  | - |  |  |  | 125,202 |  |  |  | 1,094 |
Single family non-owner occupied |  |  | 770 |  |  |  | 62 |  |  |  | 139,093 |  |  |  | 1,914 |
Non-farm, non-residential |  |  | 1,367 |  |  |  | 15 |  |  |  | 611,477 |  |  |  | 6,582 |
Agricultural |  |  | - |  |  |  | - |  |  |  | 7,035 |  |  |  | 51 |
Farmland |  |  | 1,219 |  |  |  | 233 |  |  |  | 24,430 |  |  |  | 129 |
Total commercial loans |  |  | 3,699 |  |  |  | 580 |  |  |  | 1,058,468 |  |  |  | 11,092 |
Consumer real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines |  |  | - |  |  |  | - |  |  |  | 115,807 |  |  |  | 803 |
Single family owner occupied |  |  | 9,471 |  |  |  | 1,978 |  |  |  | 496,348 |  |  |  | 3,732 |
Owner occupied construction |  |  | - |  |  |  | - |  |  |  | 39,178 |  |  |  | 297 |
Total consumer real estate loans |  |  | 9,471 |  |  |  | 1,978 |  |  |  | 651,333 |  |  |  | 4,832 |
Consumer and other loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer loans |  |  | - |  |  |  | - |  |  |  | 70,772 |  |  |  | 794 |
Other |  |  | - |  |  |  | - |  |  |  | 5,001 |  |  |  | - |
Total consumer and other loans |  |  | - |  |  |  | - |  |  |  | 75,773 |  |  |  | 794 |
Total loans, excluding PCI loans |  | $ | 13,170 |  |  | $ | 2,558 |  |  | $ | 1,785,574 |  |  | $ | 16,718 |
The following table presents the recorded investment in PCI loans and the allowance for loan losses on PCI loans, by loan pool, as of the dates indicated:
|  | June 30, 2018 |  |  | December 31, 2017 |
(Amounts in thousands) |  | Recorded Investment |  |  | Allowance for Loan Pools With Impairment |  |  | Recorded Investment |  |  | Allowance for Loan Pools With Impairment |
Commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Waccamaw commercial |  | $ | 1,330 |  |  | $ | - |  |  | $ | 64 |  |  | $ | - |
Peoples commercial |  |  | 4,479 |  |  |  | - |  |  |  | 4,279 |  |  |  | - |
Other |  |  | 923 |  |  |  | - |  |  |  | 986 |  |  |  | - |
Total commercial loans |  |  | 6,732 |  |  |  | - |  |  |  | 5,329 |  |  |  | - |
Consumer real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Waccamaw serviced home equity lines |  |  | 7,662 |  |  |  | - |  |  |  | 11,118 |  |  |  | - |
Waccamaw residential |  |  | 823 |  |  |  | - |  |  |  | 994 |  |  |  | - |
Peoples residential |  |  | 964 |  |  |  | - |  |  |  | 999 |  |  |  | - |
Total consumer real estate loans |  |  | 9,449 |  |  |  | - |  |  |  | 13,111 |  |  |  | - |
Total PCI loans |  | $ | 16,181 |  |  | $ | - |  |  | $ | 18,440 |  |  | $ | - |
Management believed the allowance was adequate to absorb probable loan losses inherent in the loan portfolio as of June 30, 2018.

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