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Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Major categories of loans are summarized as follows (in thousands):

						March 31, 2020																														December 31, 2019
						PCI Loans1						All Other Loans2						Total						PCI Loans1						All Other Loans2						Total
Commercial real estate						$	16,589					$	992,446					$	1,009,035					$	15,255					$	890,051					$	905,306
Consumer real estate						11,950						476,823						488,773						6,541						416,797						423,338
Construction and land development						6,479						246,966						253,445						4,458						223,168						227,626
Commercial and industrial						143						377,030						377,173						407						336,668						337,075
Consumer and other						325						16,541						16,866						326						9,577						9,903
Total loans						35,486						2,109,806						2,145,292						26,987						1,876,261						1,903,248
Less:  Allowance for loan losses						—						(13,431)						(13,431)						(156)						(10,087)						(10,243)
Loans, net						$	35,486					$	2,096,375					$	2,131,861					$	26,831					$	1,866,174					$	1,893,005

¹ Purchased Credit Impaired loans (“PCI loans”) are loans with evidence of credit deterioration at purchase.

2 Includes loans held for sale.

Schedule of Impaired and Performing Loans Receivable

The composition of loans by loan classification for impaired and performing loan status is summarized in the tables below (in thousands):

						Commercial Real Estate						Consumer Real Estate						Construction and Land Development						Commercial and Industrial						Consumer and Other						Total
March 31, 2020:
Performing loans						$	991,914					$	475,303					$	246,359					$	376,872					$	16,541					$	2,106,989
Impaired loans						532						1,520						607						158						—						2,817
						992,446						476,823						246,966						377,030						16,541						2,109,806
PCI loans						16,589						11,950						6,479						143						325						35,486
Total loans						$	1,009,035					$	488,773					$	253,445					$	377,173					$	16,866					$	2,145,292

December 31, 2019:
Performing loans						$	889,795					$	415,250					$	222,621					$	336,508					$	9,577					$	1,873,751
Impaired loans						256						1,547						547						160						—						2,510
						890,051						416,797						223,168						336,668						9,577						1,876,261
PCI loans						15,255						6,541						4,458						407						326						26,987
Total loans						$	905,306					$	423,338					$	227,626					$	337,075					$	9,903					$	1,903,248

Schedule of Allowance for Loan Losses for Impaired and Performing Loans Receivable

The following tables show the allowance for loan losses allocation by loan classification for impaired, PCI, and performing loans (in thousands):

						Commercial Real Estate						Consumer Real Estate						Construction and Land Development						Commercial and Industrial						Consumer and Other						Total
March 31, 2020:
Performing loans						$	5,917					$	2,922					$	1,484					$	2,427					$	126					$	12,876
Impaired loans						46						379						—						130						—						555
						5,963						3,301						1,484						2,557						126						13,431
PCI loans						—						—						—						—						—						—
Total loans						$	5,963					$	3,301					$	1,484					$	2,557					$	126					$	13,431

December 31, 2019:
Performing loans						$	4,491					$	2,159					$	1,127					$	1,766					$	69					$	9,612
Impaired loans						—						343						—						132						—						475
						4,491						2,502						1,127						1,898						69						10,087
PCI loans						17						74						—						59						6						156
Total loans						$	4,508					$	2,576					$	1,127					$	1,957					$	75					$	10,243

Schedule of Allowance for Loan Losses

The following tables detail the changes in the allowance for loan losses by loan classification (in thousands):

						Three Months Ended March 31, 2020
						Commercial Real Estate						Consumer Real Estate						Construction and Land Development						Commercial and Industrial						Consumer and Other						Total
Beginning balance						$	4,508					$	2,576					$	1,127					$	1,957					$	75					$	10,243
Charged off loans						—						(2)						—						(8)						(76)						(86)
Recoveries of charge-offs						2						6						2						42						22						74
Provision (reallocation) charged to expense						1,453						721						355						566						105						3,200
Ending balance						$	5,963					$	3,301					$	1,484					$	2,557					$	126					$	13,431

						Three Months Ended March 31, 2019
						Commercial Real Estate						Consumer Real Estate						Construction and Land Development						Commercial and Industrial						Consumer and Other						Total
Beginning balance						$	3,639					$	1,789					$	795					$	1,746					$	306					$	8,275
Charged off loans						—						(2)						—						(318)						(130)						(450)
Recoveries of charge-offs						2						4						2						12						62						82
Provision (reallocation) charged to expense						433						158						57						269						(120)						797
Ending balance						$	4,074					$	1,949					$	854					$	1,709					$	118					$	8,704

Financing Receivable Credit Quality Indicators

The following tables outline the amount of each loan classification and the amount categorized into each risk rating (in thousands):

						March 31, 2020
Non PCI Loans:						Commercial Real Estate						Consumer Real Estate						Construction and Land Development						Commercial and Industrial						Consumer and Other						Total
Pass						$	903,306					$	468,494					$	238,701					$	368,506					$	16,423					$	1,995,430
Watch						81,277						5,697						7,587						7,233						38						101,832
Special mention						7,225						748						—						1,020						—						8,993
Substandard						638						1,722						678						221						56						3,315
Doubtful						—						162						—						50						24						236
Total						992,446						476,823						246,966						377,030						16,541						2,109,806

PCI Loans:
Pass						13,220						8,122						2,169						48						300						23,859
Watch						2,189						743						3,743						—						14						6,689
Special mention						21						59						—						—						—						80
Substandard						1,159						3,026						567						95						11						4,858
Doubtful						—						—						—						—						—						—
Total						16,589						11,950						6,479						143						325						35,486
Total loans						$	1,009,035					$	488,773					$	253,445					$	377,173					$	16,866					$	2,145,292

						December 31, 2019
Non PCI Loans:						Commercial Real Estate						Consumer Real Estate						Construction and Land Development						Commercial and Industrial						Consumer and Other						Total
Pass						$	860,447					$	413,192					$	216,459					$	328,564					$	9,462					$	1,828,124
Watch						25,180						989						6,089						6,786						40						39,084
Special mention						4,057						738						—						1,033						—						5,828
Substandard						367						1,713						620						228						51						2,979
Doubtful						—						165						—						57						24						246
Total						890,051						416,797						223,168						336,668						9,577						1,876,261

PCI Loans:
Pass						12,473						5,258						902						41						300						18,974
Watch						2,234						38						3,556						—						13						5,841
Special mention						139						60						—						—						—						199
Substandard						409						1,185						—						366						13						1,973
Doubtful						—						—						—						—						—						—
Total						15,255						6,541						4,458						407						326						26,987
Total loans						$	905,306					$	423,338					$	227,626					$	337,075					$	9,903					$	1,903,248

Past Due Financing Receivables

The following tables present an aging analysis of our loan portfolio (in thousands): 

						March 31, 2020
						30-60 Days Past Due and Accruing						61-89 Days Past Due and Accruing						Past Due 90 Days or More and Accruing						Nonaccrual						Total Past Due and Nonaccrual						PCI Loans						Current Loans						Total Loans
Commercial real estate						$	4,305					$	418					$	—					$	397					$	5,120					$	16,589					$	987,326					$	1,009,035
Consumer real estate						4,029						486						—						1,860						6,375						11,950						470,448						488,773
Construction and land development						564						40						—						679						1,283						6,479						245,683						253,445
Commercial and industrial						665						302						—						48						1,015						143						376,015						377,173
Consumer and other						373						6						10						76						465						325						16,076						16,866
Total						$	9,936					$	1,252					$	10					$	3,060					$	14,258					$	35,486					$	2,095,548					$	2,145,292

						December 31, 2019
						30-60 Days Past Due and Accruing						61-89 Days Past Due and Accruing						Past Due 90 Days or More and Accruing						Nonaccrual						Total Past Due and Nonaccrual						PCI Loans						Current Loans						Total Loans
Commercial real estate						$	466					$	22					$	—					$	124					$	612					$	15,255					$	889,439					$	905,306
Consumer real estate						1,564						30						—						1,872						3,466						6,541						413,331						423,338
Construction and land development						507						—						607						620						1,734						4,458						221,434						227,626
Commercial and industrial						559						53						—						57						669						407						335,999						337,075
Consumer and other						86						14						—						70						170						326						9,407						9,903
Total						$	3,182					$	119					$	607					$	2,743					$	6,651					$	26,987					$	1,869,610					$	1,903,248

Impaired Financing Receivables

The following is an analysis of the impaired loan portfolio, including PCI loans, detailing the related allowance recorded (in thousands):  

						March 31, 2020																														December 31, 2019
						Recorded Investment						Unpaid Principal Balance						Related Allowance						Recorded Investment						Unpaid Principal Balance						Related Allowance
Impaired loans without a valuation allowance:
Commercial real estate						$	136					$	136					$	—					$	256					$	261					$	—
Consumer real estate						546						546						—						553						553						—
Construction and land development						607						607						—						547						547						—
Commercial and industrial						—						—						—						—						—						—
Consumer and other						—						—						—						—						—						—
						1,289						1,289						—						1,356						1,361						—
Impaired loans with a valuation allowance:
Commercial real estate						396						402						46						—						—						—
Consumer real estate						974						974						379						994						994						343
Construction and land development						—						—						—						—						—						—
Commercial and industrial						158						158						130						160						160						132
Consumer and other						—						—						—						—						—						—
						1,528						1,534						555						1,154						1,154						475
PCI loans:
Commercial real estate						1,010						1,019						—						17						99						17
Consumer real estate						486						491						—						1,205						1,371						74
Construction and land development						253						254						—						—						—						—
Commercial and industrial						376						378						—						396						534						59
Consumer and other						14						14						—						45						51						6
						2,139						2,156						—						1,663						2,055						156
Total impaired loans						$	4,956					$	4,979					$	555					$	4,173					$	4,570					$	631

						Three Months Ended March 31,
						2020																		2019
						Average Recorded Investment						Interest Income Recognized						Average Recorded Investment						Interest Income Recognized
Impaired loans without a valuation allowance:
Commercial real estate						$	196					$	3					$	613					$	20
Consumer real estate						550						4						967						4
Construction and land development						577						—						573						—
Commercial and industrial						—						—						50						1
Consumer and other						—						—						28						1
						1,323						7						2,231						26
Impaired loans with a valuation allowance:
Commercial real estate						198						2						24						1
Consumer real estate						984						9						99						—
Construction and land development						—						—						28						—
Commercial and industrial						159						2						644						9
Consumer and other						—						—						57						—
						1,341						13						852						10
PCI loans:
Commercial real estate						964						1						845						(10)
Consumer real estate						456						1						367						3
Construction and land development						231						—						—						—
Commercial and industrial						355						—						—						—
Consumer real estate						11						—						—						—
						2,017						2						1,212						(7)
Total impaired loans						$	4,681					$	22					$	4,295					$	29

Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period, Carrying Amount of Loans

The Company has acquired loans where there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans are as follows (in thousands):

			March 31,						December 31,
			2020						2019
Commercial real estate			$	24,557					$	21,570
Consumer real estate			14,703						8,411
Construction and land development			2,321						5,394
Commercial and industrial			7,806						2,540
Consumer and other			486						504
Total loans			49,873						38,419
Less: Remaining purchase discount			(14,387)						(11,432)
Total loans, net of purchase discount			35,486						26,987
Less: Allowance for loan losses			—						(156)
Carrying amount, net of allowance			$	35,486					$	26,831

Schedule of Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield Movement

Activity related to the accretable yield on loans acquired with deteriorated credit quality is as follows (in thousands):

			Three Months Ended
			March 31,
			2020						2019
Accretable yield, beginning of period			$	8,454					$	7,052
Additions			2,515						—
Accretion income			(2,077)						(1,254)
Reclassification			1,916						1,035
Other changes, net			171						1,811
Accretable yield, end of period			$	10,979					$	8,644

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