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Note 6 - Allowance for Loan Losses
 3 Months Ended
Mar. 31, 2020
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
March 31, 2020.
 
   
Three Months Ended March 31, 2020
  
(Amounts in thousands)
  
Commercial
    
Consumer Real Estate
    
Consumer and Other
    
Total Allowance
  
Total allowance
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Beginning balance
   $
10,235
     $
6,325
     $
1,865
     $
18,425
  
Provision for (recovery of) loan losses charged to operations
    
1,987
      
1,145
      
368
      
3,500
  
Charge-offs
    
(268
 )    
(63
 )    
(863
 )    
(1,194
 )
Recoveries
    
121
      
112
      
173
      
406
  
Net (charge-offs) recoveries
    
(147
 )    
49
      
(690
 )    
(788
 )
Ending balance
   $
12,075
     $
7,519
     $
1,543
     $
21,137
  
 
   
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
  
 
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, 2020
  
(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
   $
-
     $
-
     $
51,051
     $
299
  
Commercial and industrial
    
-
      
-
      
127,267
      
762
  
Multi-family residential
    
944
      
279
      
107,615
      
972
  
Single family non-owner occupied
    
-
      
-
      
180,696
      
1,467
  
Non-farm, non-residential
    
1,910
      
652
      
705,808
      
7,178
  
Agricultural
    
-
      
-
      
11,268
      
172
  
Farmland
    
-
      
-
      
22,676
      
217
  
Total commercial loans
    
2,854
      
931
      
1,206,381
      
11,067
  
Consumer real estate loans
                                
Home equity lines
    
-
      
-
      
113,075
      
724
  
Single family owner occupied
    
2,995
      
350
      
591,989
      
5,728
  
Owner occupied construction
    
-
      
-
      
13,946
      
111
  
Total consumer real estate loans
    
2,995
      
350
      
719,010
      
6,563
  
Consumer and other loans
                                
Consumer loans
    
-
      
-
      
110,992
      
2,226
  
Other
    
-
      
-
      
4,573
      
-
  
Total consumer and other loans
    
-
      
-
      
115,565
      
2,226
  
Total loans, excluding PCI loans
   $
5,849
     $
1,281
     $
2,040,956
     $
19,856
  
 
   
December 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
   $
-
     $
-
     $
30,334
     $
245
  
Commercial and industrial
    
-
      
-
      
95,659
      
699
  
Multi-family residential
    
944
      
-
      
98,201
      
969
  
Single family non-owner occupied
    
-
      
-
      
128,520
      
1,323
  
Non-farm, non-residential
    
2,575
      
292
      
591,520
      
6,361
  
Agricultural
    
-
      
-
      
9,458
      
145
  
Farmland
    
-
      
-
      
16,146
      
201
  
Total commercial loans
    
3,519
      
292
      
969,838
      
9,943
  
Consumer real estate loans
                                
Home equity lines
    
-
      
-
      
91,999
      
673
  
Single family owner occupied
    
3,016
      
353
      
490,712
      
5,175
  
Owner occupied construction
    
-
      
-
      
16,144
      
124
  
Total consumer real estate loans
    
3,016
      
353
      
598,855
      
5,972
  
Consumer and other loans
                                
Consumer loans
    
-
      
-
      
99,199
      
1,865
  
Other
    
-
      
-
      
4,742
      
-
  
Total consumer and other loans
    
-
      
-
      
103,941
      
1,865
  
Total loans, excluding PCI loans
   $
6,535
     $
645
     $
1,672,634
     $
17,780
  
 
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, 2020
    
December 31, 2019
  
(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
    
-
      
-
      
4,371
      
-
  
Highlands:
                                
1-4 family, senior-commercial
    
7,269
      
-
      
4,564
      
-
  
Construction & land development
    
2,297
      
-
      
1,956
      
-
  
Farmland and other agricultural
    
3,404
      
-
      
3,722
      
-
  
Multifamily
    
1,643
      
-
      
1,663
      
-
  
Commercial real estate
    
18,948
      
-
      
21,710
      
-
  
Commercial and industrial
    
2,461
      
-
      
2,829
      
-
  
Other
    
-
      
-
      
352
      
-
  
Total commercial loans
    
36,022
      
-
      
41,167
      
-
  
Consumer real estate loans
                                
Waccamaw serviced home equity lines
    
-
      
-
      
2,121
      
-
  
Waccamaw residential
    
-
      
-
      
587
      
-
  
Highlands:
    
-
      
-
      
-
      
-
  
1-4 family, junior and HELOCS
    
1,615
      
-
      
2,157
      
-
  
1-4 family, senior-consumer
    
11,148
      
-
      
13,174
      
-
  
Consumer
    
1,135
      
-
      
1,341
      
-
  
Peoples residential
    
-
      
-
      
700
      
-
  
Total consumer real estate loans
    
13,898
      
-
      
20,080
      
-
  
Total PCI loans
   $
49,920
     $
-
     $
61,247
     $
-
  
 
Management believed the allowance was adequate to absorb probable loan losses inherent in the loan portfolio as of
March 31, 2020.