XML 24 R14.htm IDEA: XBRL DOCUMENT

Note 6 - Allowance for Loan Losses

9 Months Ended

Sep. 30, 2020

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 September 30, 2020.

	*Three Months Ended September 30, 2020*
				*Consumer Real*			*Consumer and*			*Total*
(Amounts in thousands)	*Commercial*			*Estate*			*Other*			*Allowance*
Total allowance
Beginning balance	$	13,909		$	7,294		$	2,555		$	23,758
Provision for (recovery of) loan losses charged to operations		1,972			1,975			756			4,703
Charge-offs		(501	)		(188	)		(874	)		(1,563	)
Recoveries		169			38			172			379
Net charge-offs		(332	)		(150	)		(702	)		(1,184	)
Ending balance	$	15,549		$	9,119		$	2,609		$	27,277

	*Three Months Ended September 30, 2019*
				*Consumer Real*			*Consumer and*			*Total*
(Amounts in thousands)	*Commercial*			*Estate*			*Other*			*Allowance*
Total allowance
Beginning balance	$	10,215		$	6,881		$	1,444		$	18,540
Provision for (Recovery of) loan losses charged to operations		203			(338	)		810			675
Charge-offs		(159	)		(253	)		(552	)		(964	)
Recoveries		40			96			106			242
Net (charge-offs) recoveries		(119	)		(157	)		(446	)		(722	)
Ending balance	$	10,299		$	6,386		$	1,808		$	18,493

	*Nine Months Ended September 30, 2020*
				*Consumer Real*			*Consumer and*			*Total*
(Amounts in thousands)	*Commercial*			*Estate*			*Other*			*Allowance*
Total allowance
Beginning balance	$	10,235		$	6,325		$	1,865		$	18,425
Provision for loan losses charged to operations		6,577			2,899			2,558			12,034
Charge-offs		(1,647	)		(430	)		(2,352	)		(4,429	)
Recoveries		384			325			538			1,247
Net (charge-offs) recoveries		(1,263	)		(105	)		(1,814	)		(3,182	)
Ending balance	$	15,549		$	9,119		$	2,609		$	27,277

	*Nine Months Ended September 30, 2019*
				*Consumer Real*			*Consumer and*			*Total*
(Amounts in thousands)	*Commercial*			*Estate*			*Other*			*Allowance*
Total allowance
Beginning balance	$	10,499		$	6,732		$	1,036		$	18,267
Provision for loan losses charged to operations		1,359			411			1,710			3,480
Charge-offs		(2,165	)		(1,203	)		(1,332	)		(4,700	)
Recoveries		606			446			394			1,446
Net (charge-offs) recoveries		(1,559	)		(757	)		(938	)		(3,254	)
Ending balance	$	10,299		$	6,386		$	1,808		$	18,493

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, 2020*
	*Loans Individually*		*Allowance for Loans*		*Loans Collectively*		*Allowance for Loans*
	*Evaluated for*		*Individually*		*Evaluated for*		*Collectively*
(Amounts in thousands)	*Impairment*		*Evaluated*		*Impairment*		*Evaluated*
Commercial loans
Construction, development, and other land	$	-	$	-	$	45,517	$	630
Commercial and industrial		767		-		177,396		1,102
Multi-family residential		944		222		103,087		1,299
Single family non-owner occupied		1,054		-		183,088		1,974
Non-farm, non-residential		3,774		565		726,741		9,360
Agricultural		-		-		10,341		174
Farmland		-		-		19,940		225
Total commercial loans		6,539		787		1,266,110		14,764
Consumer real estate loans
Home equity lines		-		-		101,276		871
Single family owner occupied		2,259		239		634,021		7,815
Owner occupied construction		-		-		17,460		194
Total consumer real estate loans		2,259		239		752,757		8,880
Consumer and other loans
Consumer loans		-		-		117,965		2,607
Other		-		-		5,838		-
Total consumer and other loans		-		-		123,803		2,607
Total loans, excluding PCI loans	$	8,798	$	1,026	$	2,142,670	$	26,251

	December 31, 2019
	Loans Individually		Allowance for Loans		Loans Collectively		Allowance for Loans
	Evaluated for		Individually		Evaluated for		Collectively
(Amounts in thousands)	*Impairment*		*Evaluated*		*Impairment*		*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:

	*September 30, 2020*				*December 31, 2019*
			*Allowance for Loan*				*Allowance for Loan*
	*Recorded*		*Pools With*		*Recorded*		*Pools With*
(Amounts in thousands)	*Investment*		*Impairment*		*Investment*		*Impairment*
Commercial loans
Waccamaw commercial	$	-	$	-	$	-	$	-
Peoples commercial		-		-		4,371		-
Highlands:
1-4 family, senior-commercial		5,311		-		4,564		-
Construction & land development		1,295		-		1,956		-
Farmland and other agricultural		3,054		-		3,722		-
Multifamily		1,616		-		1,663		-
Commercial real estate		18,300		-		21,710		-
Commercial and industrial		1,551		-		2,829		-
Other		-		-		352		-
Total commercial loans		31,127		-		41,167		-
Consumer real estate loans
Waccamaw serviced home equity lines		-		-		2,121		-
Waccamaw residential		-		-		587		-
Highlands:		-		-		-		-
1-4 family, junior and HELOCS		859		-		2,157		-
1-4 family, senior-consumer		10,768		-		13,174		-
Consumer		773		-		1,341		-
Peoples residential		-		-		700		-
Total consumer real estate loans		12,400		-		20,080		-
Total PCI loans	$	43,527	$	-	$	61,247	$	-

Management believed the allowance was adequate to absorb probable loan losses inherent in the loan portfolio as of September 30, 2020.