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Allowance for Loans Losses (Tables)

9 Months Ended

Sep. 30, 2019

Receivables [Abstract]

Summary of allowance for loans losses

A summary of changes in the allowance for loans losses (in thousands) for September 30, 2019 and December 31, 2018 is as follows:

		September 30, 2019				December 31, 2018
(Dollars in thousands)
Allowance, beginning of period		$	3,580			$	2,803
Charge-Offs
Commercial and industrial		$	43			$	6
Real estate, construction			—				—
Real estate, mortgage			3				13
Consumer and other loans			733				545
Total charge-offs			779				564
Recoveries
Commercial and industrial			—				—
Real estate, construction			—				—
Real estate, mortgage			(6	)			(12	)
Consumer and other loans			(132	)			(104	)
Total recoveries			(138	)			(116	)
Net charge-offs (recoveries)			641				448
Provision for loan losses			1,465				1,225
Allowance, end of period		$	4,404			$	3,580

Summary of loans and leases receivable method of impairment evaluation

		Individually Evaluated for Impairment				Collectively Evaluated for Impairment				Total
September 30, 2019
Commercial and industrial		$	291			$	50,535			$	50,826
Agricultural			—				175				175
Real Estate – construction, commercial			—				19,876				19,876
Real Estate – construction, residential			—				16,364				16,364
Real Estate – mortgage, commercial			735				166,488				167,223
Real Estate – mortgage, residential			658				165,207				165,865
Real Estate – mortgage, farmland			—				3,754				3,754
Consumer installment loans			—				37,433				37,433
Gross loans			1,684				459,832				461,516
Less: Unearned income			—				(638	)			(638	)
Total		$	1,684			$	459,194			$	460,878

		Individually Evaluated for Impairment				Collectively Evaluated for Impairment				Total
December 31, 2018
Commercial and industrial		$	—			$	49,076			$	49,076
Agricultural			—				216				216
Real Estate – construction, commercial			—				14,666				14,666
Real Estate – construction, residential			—				15,102				15,102
Real Estate – mortgage, commercial			1,258				149,255				150,513
Real Estate – mortgage residential			688				149,168				149,856
Real Estate – mortgage, farmland			—				4,179				4,179
Consumer installment loans			—				31,979				31,979
Gross loans			1,946				413,641				415,587
Less: Unearned income			—				(719	)			(719	)
Total		$	1,946			$	412,922			$	414,868

Summary impaired financing receivables

The following table presents information related to impaired loans, by portfolio segment, at the dates presented.

		September 30, 2019
(in thousands)		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized
With no specific allowance recorded:
Real estate – mortgage, residential		$	658			$	658			$	—			$	661			$	7
With an allowance recorded:
Commercial and industrial			291				291				151				146				2
Real estate – mortgage, commercial			735				735				100				735				5
		$	1,684			$	1,684			$	251			$	1,542			$	14

		December 31, 2018
(in thousands)		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized
With no specific allowance recorded:
Real estate – mortgage, residential		$	1,946			$	1,946			$	—			$	2,067			$	64
With an allowance recorded:
Real estate – mortgage, commercial			—				—				—				—				—
		$	1,946			$	1,946			$	—			$	2,067			$	64

Summary of purchased loans

		September 30, 2019				December 31, 2018
Real Estate
Construction loans and all land development and other land loans		$	1,415			$	1,522
Secured by farmland			3				319
Revolving, open-end loans secured by 1-4 family residential properties and extended under lines of credit			2,814				3,376
Secured by first liens			7,803				10,448
Secured by junior liens			399				505
Secured by multifamily (5 or more) residential properties			95				250
Loans secured by owner-occupied, nonfarm nonresidential properties			4,146				7,344
Loans secured by other nonfarm nonresidential properties			5,395				6,239
Commercial and Industrial			2,906				4,457
Other
Other revolving credit plans			37				89
Automobile loans			10				30
Other consumer loans			68				93
Total		$	25,091			$	34,672

Summary of accounts notes loans and financing receivable

The following table presents the Company’s loan portfolio by internal loan grade (in thousands) as of September 30, 2019 and December 31, 2018:

		September 30, 2019
		Grade 1 Prime				Grade 2 Desirable				Grade 3 Good				Grade 4 Acceptable				Grade 5 Pass/Watch				Grade 6 Special Mention				Grade 7 Substandard				Total
Commercial and industrial		$	406			$	1,827			$	21,936			$	25,540			$	579			$	—			$	538			$	50,826
Agricultural			—				103				66				6				—				—				—				175
Real Estate – construction, commercial			—				659				10,210				7,923				104				—				980				19,876
Real Estate – construction, residential			—				—				4,295				8,011				4,058				—				—				16,364
Real Estate – mortgage, commercial			—				1,656				81,973				70,093				10,226				1,012				2,263				167,223
Real Estate – mortgage residential			—				2,917				81,246				76,351				3,648				96				1,607				165,865
Real Estate – mortgage, farmland			1,565				100				1,418				218				453				—				—				3,754
Consumer installment loans			297				32				23,863				12,447				106				—				688				37,433
Gross loans			2,268				7,294				225,007				200,589				19,174				1,108				6,076				461,516
Less: Unearned income																															(638	)
Total																														$	460,878
		December 31, 2018
		Grade 1 Prime				Grade 2 Desirable				Grade 3 Good				Grade 4 Acceptable				Grade 5 Pass/Watch				Grade 6 Special Mention				Grade 7 Substandard				Total
Commercial and industrial		$	44			$	2,660			$	21,009			$	24,254			$	797			$	—			$	312			$	49,076
Agricultural			9				99				105				3				—				—				—				216
Real Estate – construction, commercial			—				485				7,118				5,937				106				—				1,020				14,666
Real Estate – construction, residential			—				—				4,305				5,059				5,738				—				—				15,102
Real Estate – mortgage, commercial			—				1,920				82,097				53,487				8,470				1,668				2,871				150,513
Real Estate – mortgage residential			—				3,647				76,496				63,397				3,805				522				1,989				149,856
Real Estate – mortgage, farmland			1,700				100				1,340				730				—				—				309				4,179
Consumer installment loans			213				29				16,174				15,081				123				—				359				31,979
Gross loans			1,966				8,940				208,644				167,948				19,039				2,190				6,860				415,587
Less: Unearned income																															(719	)
Total																														$	414,868

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Tabular disclosure of allowance for credit loss on financing receivable.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447

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-Section 50
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