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Note 6 - Allowance for Loan Losses
 12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Allowance for Credit Losses [Text Block]
Note
6
.
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
December 31, 2018
or
2017.
 
   
Year Ended December 31, 2018
  
(Amounts in thousands)
  
Commercial
    
Consumer Real
Estate
    
Consumer and
Other
    
Total Allowance
  
Beginning balance
   $
11,672
     $
6,810
     $
794
     $
19,276
  
(Recovery of) provision for loan losses charged to operations
    
(660
 )    
1,473
      
1,580
      
2,393
  
Charge-offs
    
(1,236
 )    
(2,005
 )    
(1,666
 )    
(4,907
 )
Recoveries
    
723
      
454
      
328
      
1,505
  
Net charge-offs
    
(513
 )    
(1,551
 )    
(1,338
 )    
(3,402
 )
Ending balance
   $
10,499
     $
6,732
     $
1,036
     $
18,267
  
 
   
Year Ended December 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
    
103
      
1,608
      
1,072
      
2,783
  
Charge-offs
    
(922
 )    
(699
 )    
(1,322
 )    
(2,943
 )
Recoveries
    
801
      
414
      
285
      
1,500
  
Net charge-offs
    
(121
 )    
(285
 )    
(1,037
 )    
(1,443
 )
Ending balance
   $
11,672
     $
6,810
     $
794
     $
19,276
  
                                 
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
    
103
      
1,596
      
1,072
      
2,771
  
Benefit attributable to the FDIC indemnification asset
    
-
      
-
      
-
      
-
  
Provision for loan losses charged to operations
    
103
      
1,596
      
1,072
      
2,771
  
Recovery of loan losses recorded through the FDIC indemnification asset
    
-
      
-
      
-
      
-
  
Charge-offs
    
(922
 )    
(699
 )    
(1,322
 )    
(2,943
 )
Recoveries
    
801
      
414
      
285
      
1,500
  
Net charge-offs
    
(121
 )    
(285
 )    
(1,037
 )    
(1,443
 )
Ending balance
   $
11,672
     $
6,810
     $
794
     $
19,276
  
 
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:
 
   
December 31, 2018
  
(Amounts in thousands)
  
Loans Individually
Evaluated for
Impairment
    
Allowance for 
Loans
Individuall
y
Evaluated
    
Loans Collectively
Evaluated for
Impairment
    
Allowance for
Loans
Collectively
Evaluated
  
Commercial loans
                                
Construction, development, and other land
   $
-
     $
-
     $
63,039
     $
417
  
Commercial and industrial
    
-
      
-
      
104,863
      
663
  
Multi-family residential
    
534
      
230
      
106,478
      
962
  
Single family non-owner occupied
    
-
      
-
      
138,451
      
1,442
  
Non-farm, non-residential
    
840
      
235
      
609,100
      
6,295
  
Agricultural
    
-
      
-
      
8,545
      
85
  
Farmland
    
-
      
-
      
18,905
      
170
  
Total commercial loans
    
1,374
      
465
      
1,049,381
      
10,034
  
Consumer real estate loans
                                
Home equity lines
    
65
      
65
      
103,668
      
683
  
Single family owner occupied
    
3,631
      
922
      
509,929
      
4,931
  
Owner occupied construction
    
-
      
-
      
18,171
      
131
  
Total consumer real estate loans
    
3,696
      
987
      
631,768
      
5,745
  
Consumer and other loans
                                
Consumer loans
    
-
      
-
      
71,552
      
1,036
  
Other
    
-
      
-
      
5,310
      
-
  
Total consumer and other loans
    
-
      
-
      
76,862
      
1,036
  
Total loans, excluding PCI loans
   $
5,070
     $
1,452
     $
1,758,011
     $
16,815
  
 
   
December 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
   $
-
     $
-
     $
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 allowance for loan losses on PCI loans and recorded investment in PCI loans, by loan pool, as of the dates indicated:
 
   
December 31, 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
   $
-
     $
-
     $
64
     $
-
  
Peoples commercial
    
4,405
      
-
      
4,279
      
-
  
Other
    
868
      
-
      
986
      
-
  
Total commercial loans
    
5,273
      
-
      
5,329
      
-
  
Consumer real estate loans
                                
Waccamaw serviced home equity lines
    
5,017
      
-
      
11,118
      
-
  
Waccamaw residential
    
788
      
-
      
994
      
-
  
Peoples residential
    
925
      
-
      
999
      
-
  
Total consumer real estate loans
    
6,730
      
-
      
13,111
      
-
  
Total PCI loans
   $
12,003
     $
-
     $
18,440
     $
-
  
 
Management believed the allowance was adequate to absorb probable loan losses inherent in the loan portfolio as of
December 31, 2018.