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Note 5 - Allowance for Loan Losses
 3 Months Ended
Mar. 31, 2019
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
March 31, 2019.
 
   
Three Months Ended March 31, 2019
  
(Amounts in thousands)
  
Commercial
    
Consumer Real
Estate
    
Consumer and
Other
    
Total
Allowance
  
Total allowance
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Beginning balance
   $
10,499
     $
6,732
     $
1,036
     $
18,267
  
(Recovery of) provision for loan losses charged to operations
    
(106
 )    
817
      
509
      
1,220
  
Charge-offs
    
(492
 )    
(759
 )    
(371
 )    
(1,622
 )
Recoveries
    
164
      
66
      
148
      
378
  
Net charge-offs
    
(328
 )    
(693
 )    
(223
 )    
(1,244
 )
Ending balance
   $
10,065
     $
6,856
     $
1,322
     $
18,243
  
 
   
Three Months Ended March 31, 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
    
(41
 )    
237
      
299
      
495
  
Charge-offs
    
(141
 )    
(131
 )    
(426
 )    
(698
 )
Recoveries
    
288
      
47
      
92
      
427
  
Net charge-offs
    
147
      
(84
 )    
(334
 )    
(271
 )
Ending balance
   $
11,778
     $
6,963
     $
759
     $
19,500
  
 
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, 2019
  
(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
   $
-
     $
-
     $
63,510
     $
436
  
Commercial and industrial
    
-
      
-
      
94,039
      
525
  
Multi-family residential
    
536
      
-
      
101,535
      
1,009
  
Single family non-owner occupied
    
-
      
-
      
138,399
      
1,472
  
Non-farm, non-residential
    
1,403
      
-
      
596,856
      
6,354
  
Agricultural
    
-
      
-
      
8,975
      
78
  
Farmland
    
542
      
-
      
18,027
      
191
  
Total commercial loans
    
2,481
      
-
      
1,021,341
      
10,065
  
Consumer real estate loans
                                
Home equity lines
    
-
      
-
      
99,516
      
668
  
Single family owner occupied
    
4,543
      
684
      
500,058
      
5,399
  
Owner occupied construction
    
-
      
-
      
13,867
      
105
  
Total consumer real estate loans
    
4,543
      
684
      
613,441
      
6,172
  
Consumer and other loans
                                
Consumer loans
    
-
      
-
      
79,185
      
1,322
  
Other
    
-
      
-
      
4,921
      
-
  
Total consumer and other loans
    
-
      
-
      
84,106
      
1,322
  
Total loans, excluding PCI loans
   $
7,024
     $
684
     $
1,718,888
     $
17,559
  
 
   
December 31, 2018
  
(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
   $
-
     $
-
     $
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
  
 
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:
 
   
March 31, 2019
    
December 31, 2018
  
(Amounts in thousands)
  
Recorded
Investment
    
Allowance for
Loan Pools With
Impairment
    
Recorded
Investment
    
Allowance for
Loan Pools With
Impairment
  
Commercial loans
                                
Waccamaw commercial
   $
-
     $
-
     $
-
     $
-
  
Peoples commercial
    
4,442
      
-
      
4,405
      
-
  
Other
    
853
      
-
      
868
      
-
  
Total commercial loans
    
5,295
      
-
      
5,273
      
-
  
Consumer real estate loans
                                
Waccamaw serviced home equity lines
    
4,560
      
-
      
5,017
      
-
  
Waccamaw residential
    
706
      
-
      
788
      
-
  
Peoples residential
    
906
      
-
      
925
      
-
  
Total consumer real estate loans
    
6,172
      
-
      
6,730
      
-
  
Total PCI loans
   $
11,467
     $
-
     $
12,003
     $
-
  
 
Management believed the allowance was adequate to absorb probable loan losses inherent in the loan portfolio as of
March 31, 2019.