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Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Schedule of Loans by Class


Loan Distribution
(dollars in thousands, unaudited)
		March 31, 2024			December 31, 2023
Real estate:
Residential real estate		$	406,443		$	412,063
Commercial real estate			1,327,482			1,328,224
Other construction/land			6,115			6,256
Farmland			66,133			67,276
Total real estate			1,806,173			1,813,819
Other commercial			143,448			156,272
Mortgage warehouse lines			203,561			116,000
Consumer loans			3,682			3,984
Subtotal			2,156,864			2,090,075
Net deferred loan fees and costs			214			309
Loans, amortized cost basis			2,157,078			2,090,384
Allowance for credit losses			(23,140)			(23,500)
Net Loans		$	2,133,938		$	2,066,884

Schedule of Amortized Cost Basis of Nonaccrual Loans


Nonaccrual Loans
(dollars in thousands, unaudited)
		March 31, 2024
		Nonaccrual Loans
		With no allowance for credit loss			With an allowance for credit loss			Total			Loans Past Due 90+ Accruing
Real estate:
Residential real estate		$	95		$	—		$	95		$	—
Commercial real estate			—			7,437			7,437			—
Farmland			6,503			—			6,503			—
Total real estate			6,598			7,437			14,035			—
Other commercial			153			—			153			—
Consumer loans			—			—			—			—
Total		$	6,751		$	7,437		$	14,188		$	—


		December 31, 2023
		Nonaccrual Loans
		With no allowance for credit loss			With an allowance for credit loss			Total			Loans Past Due 90+ Accruing
Real estate:
Residential real estate		$	414		$	—		$	414		$	—
Commercial real estate			—			7,457			7,457			—
Farmland			—			—			—			—
Total real estate			414			7,457			7,871			—
Other commercial			114			—			114			14
Consumer loans			—			—			—			—
Total		$	528		$	7,457		$	7,985		$	14

Schedule of Amortized Cost Basis of Collateral-Dependent Loans by Class


Collateral Dependent Loans
(dollars in thousands, unaudited)
		March 31, 2024						December 31, 2023
		Amortized Cost			Individual Reserves			Amortized Cost			Individual Reserves
Real estate:
Residential real estate		$	95		$	—		$	414		$	—
Commercial real estate			7,437			1,548			7,457			1,600
Farmland			6,503			—			—			—
Total real estate			14,035			1,548			7,871			1,600
Other commercial			153			—			114			—
Total Loans		$	14,188		$	1,548		$	7,985		$	1,600

Schedule of Aging of the Amortized Cost Basis in Past-Due Loans


Past Due Loans
(dollars in thousands, unaudited)
		March 31, 2024
		30-59 Days Past Due			60-89 Days Past Due			Loans Past Due 90+ Days			Total Past Due			Loans not Past Due			Total Loans
Real estate:
Residential real estate		$	868		$	—		$	20		$	888		$	406,727		$	407,615
Commercial real estate			507			—			7,437			7,944			1,316,821			1,324,765
Other construction/land			—			—			—			—			6,139			6,139
Farmland			—			6,503			—			6,503			59,844			66,347
Total real estate			1,375			6,503			7,457			15,335			1,789,531			1,804,866
Other commercial			184			1			103			288			144,586			144,874
Mortgage warehouse lines			—			—			—			—			203,561			203,561
Consumer loans			3			—			—			3			3,774			3,777
Total Loans		$	1,562		$	6,504		$	7,560		$	15,626		$	2,141,452		$	2,157,078


		December 31, 2023
		30-59 Days Past Due			60-89 Days Past Due			Loans Past Due 90+ Days			Total Past Due			Loans not Past Due			Total Loans
Real estate:
Residential real estate		$	1,768		$	—		$	—		$	1,768		$	411,494		$	413,262
Commercial real estate			—			—			—			—			1,325,494			1,325,494
Other construction/land			—			—			—			—			6,268			6,268
Farmland			—			—			—			—			67,510			67,510
Total real estate			1,768			—			—			1,768			1,810,766			1,812,534
Other commercial			158			171			14			343			157,417			157,760
Mortgage warehouse lines			—			—			—			—			116,000			116,000
Consumer loans			47			—			—			47			4,043			4,090
Total Loans		$	1,973		$	171		$	14		$	2,158		$	2,088,226		$	2,090,384

Schedule of Amortized Cost Basis of Each Class of Financing Receivable


Loans to Borrowers Experiencing Financial Difficulty
(dollars in thousands, unaudited)
			March 31, 2024
		Principal Forgiveness			Term Extension			Combination Term Extension Interest Rate Reduction			Total Class of Financing Receivable
Real estate:
Residential real estate		$	—		$	—		$	—			—
Commercial real estate			—			—			—			0.00%
Other construction/land			—			240			—			3.91%
Farmland			—			—			—			—
Total real estate			—			240			—			0.01%
Other commercial			—			170			—			0.12%
Consumer loans			—			—			—			—
Total		$	—		$	410		$	—			0.02%

Schedule of Financial Effect of Loan Modifications


Borrower Experiencing Financial Difficulty - Financial Effect
(dollars in thousands, unaudited)
			March 31, 2024
			Principal Forgiveness			Weighted-Average Interest Rate Reduction			Weighted-Average Term Extension (years)
Real estate:
Residential real estate		$	—			—			—
Commercial real estate		$	—			—			—
Other construction/land		$	—			—			3.00
Farmland		$	—			—			—
Other commercial		$	—			—			3.94
Mortgage warehouse lines		$	—			—			—
Consumer loans		$	—			—			—

Schedule of Amortized Cost of Loans by Credit Quality Classification in Addition to Loan Vintage

Loan Credit Quality by Vintage

(dollars in thousands, unaudited)


		March 31, 2024
		Term Loans Amortized Cost Basis by Origination Year
		2024			2023			2022			2021			2020			Prior			Revolving Loans Amortized Cost			Revolving Loans Converted to Term Loans			Total Loans
Residential real estate
Pass		$	—		$	—		$	101,467		$	226,926		$	7,559		$	51,864		$	14,070		$	2,262		$	404,148
Special mention			—			—			—			—			—			2,714			—			279			2,993
Substandard			—			—			—			—			—			240			20			214			474
Subtotal			—			—			101,467			226,926			7,559			54,818			14,090			2,755			407,615
Commercial real estate
Pass			17,809			109,867			273,653			57,509			469,266			292,669			26,133			—			1,246,906
Special mention			—			146			—			—			37,501			12,260			1,500			—			51,407
Substandard			—			—			—			—			21,770			4,682			—			—			26,452
Subtotal			17,809			110,013			273,653			57,509			528,537			309,611			27,633			—			1,324,765
Other construction/land
Pass			240			351			—			—			3,596			1,952			—			—			6,139
Special mention			—			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—			—			—
Subtotal			240			351			—			—			3,596			1,952			—			—			6,139
Farmland
Pass			950			6,788			11,535			11,734			2,623			13,554			2,782			387			50,353
Special mention			—			—			—			—			835			8,206			—			—			9,041
Substandard			—			—			—			—			—			6,953			—			—			6,953
Subtotal			950			6,788			11,535			11,734			3,458			28,713			2,782			387			66,347
Other commercial
Pass			891			18,501			6,135			2,476			6,341			12,725			89,409			1,142			137,620
Special mention			16			75			—			250			2,724			21			252			3,743			7,081
Substandard			1			—			—			50			—			103			—			19			173
Subtotal			908			18,576			6,135			2,776			9,065			12,849			89,661			4,904			144,874
Mortgage warehouse lines
Pass			—			—			—			—			—			—			203,561			—			203,561
Subtotal			—			—			—			—			—			—			203,561			—			203,561
Consumer loans
Pass			576			633			195			82			77			250			1,899			—			3,712
Special mention			—			—			—			—			14			3			—			—			17
Substandard			2			46			—			—			—			—			—			—			48
Subtotal			578			679			195			82			91			253			1,899			—			3,777
Total		$	20,485		$	136,407		$	392,985		$	299,027		$	552,306		$	408,196		$	339,625		$	8,046		$	2,157,078
Gross charge-offs		$	392		$	24		$	5		$	3		$	20		$	410		$	274		$			$	1,128


				December 31, 2023
		Term Loans Amortized Cost Basis by Origination Year
	2023			2022			2021			2020			2019			Prior			Revolving Loans Amortized Cost			Revolving Loans Converted to Term Loans			Total Loans
Residential real estate
Pass	$	—		$	104,141		$	228,849		$	7,611		$	1,979		$	50,295		$	12,797		$	2,302		$	407,974
Special mention		—			—			1,241			—			—			2,942			20			284			4,487
Substandard		—			—			—			—			—			494			115			192			801
Subtotal		—			104,141			230,090			7,611			1,979			53,731			12,932			2,778			413,262
Commercial real estate
Pass		112,254			275,626			58,310			475,353			51,100			251,163			22,929			—			1,246,735
Special mention		148			—			—			39,654			3,010			8,489			—			—			51,301
Substandard		—			—			—			21,872			—			5,586			—			—			27,458
Subtotal		112,402			275,626			58,310			536,879			54,110			265,238			22,929			—			1,325,494
Other construction/land
Pass		352			—			—			3,646			638			1,632			—			—			6,268
Special mention		—			—			—			—			—			—			—			—			—
Substandard		—			—			—			—			—			—			—			—			—
Subtotal		352			—			—			3,646			638			1,632			—			—			6,268
Farmland
Pass		6,731			11,645			11,793			2,650			1,652			11,608			2,750			394			49,223
Special mention		—			—			—			840			—			10,471			—			—			11,311
Substandard		—			—			—			—			—			6,976			—			—			6,976
Subtotal		6,731			11,645			11,793			3,490			1,652			29,055			2,750			394			67,510
Other commercial
Pass		18,319			6,501			2,666			6,622			4,534			9,354			101,163			1,171			150,330
Special mention		—			—			273			2,783			—			128			143			3,748			7,075
Substandard		—			—			55			—			—			—			208			92			355
Subtotal		18,319			6,501			2,994			9,405			4,534			9,482			101,514			5,011			157,760
Mortgage warehouse lines
Pass		—			—			—			—			—			—			116,000			—			116,000
Subtotal		—			—			—			—			—			—			116,000			—			116,000
Consumer loans
Pass		1,366			229			102			82			67			177			1,949			—			3,972
Special mention		—			—			—			15			—			35			13			—			63
Substandard		55			—			—			—			—			—			—			—			55
Subtotal		1,421			229			102			97			67			212			1,962			—			4,090
Total	$	139,225		$	398,142		$	303,289		$	561,128		$	62,980		$	359,350		$	258,087		$	8,183		$	2,090,384
Gross charge-offs	$	2,145		$	45		$	250		$	2,266		$	81		$	1,345		$	489		$			$	6,621

Schedule of Activity in Allowance for Credit Losses by Portfolio Segment

Allowance for Credit Losses and Recorded Investment in Financing Receivables

(dollars in thousands, unaudited)


		Residential Real Estate			Commercial Real Estate			Farmland & Agricultural Production			Commercial & Industrial			Mortgage Warehouse			Consumer			Total
Allowance for credit losses:
Balance, December 31, 2023		$	2,727		$	18,554		$	586		$	1,148		$	174		$	311		$	23,500
Charge-offs			—			(20)			(410)			(287)			—			(411)			(1,128)
Recoveries			—			—			—			440			—			231			671
(Benefit) provision for credit losses			(184)			117			379			(456)			131			110			97
Ending allowance balance:		$	2,543		$	18,651		$	555		$	845		$	305		$	241		$	23,140


		Residential Real Estate			Commercial Real Estate			Farmland & Agricultural Production			Commercial & Industrial			Mortgage Warehouse			Consumer			Total
Allowance for credit losses:
Balance, December 31, 2022		$	3,593		$	17,319		$	376		$	1,133		$	41		$	340		$	22,802
Charge-offs			—			—			—			(85)			—			(371)			(456)
Recoveries			—			—			—			36			—			196			232
(Benefit) provision for credit losses			(262)			249			1,034			67			6			118			1,212
Ending allowance balance:		$	3,331		$	17,568		$	1,410		$	1,151		$	47		$	283		$	23,790