Loans (Tables)

3 Months Ended

Mar. 31, 2020

Loans held for investment outstanding at March 31, 2020 and December 31, 2019 are summarized as follows:

	March 31, 2020			December 31, 2019
(in thousands)
Commercial and industrial	$	82,177		$	77,282
Agricultural		309			446
Real estate – construction, commercial		42,527			38,039
Real estate – construction, residential		27,152			26,778
Real estate – mortgage, commercial		256,543			251,824
Real estate – mortgage, residential		215,155			208,494
Real estate – mortgage, farmland		5,394			5,507
Consumer installment loans		42,409			39,202
Gross loans		671,666			647,572
Less: Unearned income		(731	)		(738	)
Total	$	670,935		$	646,834

Summary of Acquired Loans Included in Consolidated Statement of Condition

. The outstanding principal balance and related carrying amount of these acquired loans included in the consolidated statement of condition as of March 31, 2020 and December 31, 2019 is as follows:

	March 31, 2020		December 31, 2019
(in thousands)
Purchased credit impaired acquired VCB loans evaluated individually for future credit losses
Outstanding principal balance	$	1,367	$	1,504
Carrying amount		1,196		1,315

Other acquired VCB loans
Outstanding principal balance		146,639		172,279
Carrying amount		141,337		170,151

Total acquired VCB loans
Outstanding principal balance		148,006		173,783
Carrying amount		142,533		171,466

Summary of Financing Receivable, Past Due

The following table presents the aging of the recorded investment of past due loans as of March 31, 2020 and December 31, 2019:

	March 31, 2020
(in thousands)	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due & Accruing		Nonaccrual		Total Past Due & Nonaccrual		Current Loans			Total Loans
Commercial and industrial	$	123	$	23	$	—	$	428	$	574	$	81,603		$	82,177
Real estate – construction, commercial		—		—		—		917		917		41,610			42,527
Real estate – construction, residential		589		—		—		—		589		26,563			27,152
Real estate – mortgage, commercial		—		387		—		1,472		1,859		254,684			256,543
Real estate – mortgage, residential		871		39		805		709		2,424		212,731			215,155
Agricultural & Farmland		—		—		—		—		—		5,703			5,703
Consumer installment loans		805		318		67		723		1,913		40,496			42,409
Less: Unearned income		—		—		—		—		—		(731	)		(731	)
	$	2,388	$	767	$	872	$	4,249	$	8,276	$	662,659		$	670,935

Note 4 – Loans, continued

	December 31, 2019
(in thousands)	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due & Accruing		Nonaccrual		Total Past Due & Nonaccrual		Current Loans			Total Loans
Commercial and industrial	$	1,652	$	—	$	—	$	441	$	2,093	$	75,189		$	77,282
Real estate – construction, commercial		820		—		—		929		1,749		36,290			38,039
Real estate – construction, residential		241		—		—		—		241		26,537			26,778
Real estate – mortgage, commercial		3,194		—		—		1,931		5,125		246,699			251,824
Real estate – mortgage, residential		319		217		369		713		1,618		206,876			208,494
Agricultural & Farmland		—		—		—		—		—		5,953			5,953
Consumer installment loans		894		408		—		776		2,078		37,124			39,202
Less: Unearned income		—		—		—		—		—		(738	)		(738	)
	$	7,120	$	625	$	369	$	4,790	$	12,904	$	633,930		$	646,834

Virginia Community Bankshares, Inc [Member]

Summary of Changes in Accretable Yield on Purchased Credit Impaired Loans

The following table presents changes for the year ended December 31, 2019 in the accretable yield on the VCB purchased credit impaired loans for which the Company applies ASC 310-30:

	March 31, 2020			December 31, 2019
(in thousands)
Balance beginning of period	$	188		$	—
Accretable yield at acquisition date		—			190
Additions		(22	)		—
Accretion		(16	)		(3	)
Other changes, net		21			1
Balance end of period		171			188