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Loans and Allowance for Loan Losses (Tables) | 6 Months Ended
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Jun. 30, 2021
Receivables [Abstract] |
Summary of Loans Held for Investment | The following table presents loans held for investment as of the dates stated.
(Dollars in thousands) |  | June 30, 2021 |  |  | December 31, 2020 |
Commercial and industrial |  | $ | 304,178 |  |  | $ | 123,675 |
Paycheck Protection Program |  |  | 130,489 |  |  |  | 292,068 |
Real estate – construction, commercial |  |  | 143,215 |  |  |  | 54,702 |
Real estate – construction, residential |  |  | 47,894 |  |  |  | 18,040 |
Real estate – mortgage, commercial |  |  | 672,592 |  |  |  | 273,499 |
Real estate – mortgage, residential |  |  | 490,753 |  |  |  | 213,404 |
Real estate – mortgage, farmland |  |  | 6,537 |  |  |  | 3,615 |
Consumer |  |  | 65,220 |  |  |  | 46,684 |
Gross loans |  |  | 1,860,878 |  |  |  | 1,025,687 |
Less: Deferred loan fees, net of costs |  |  | (1,008 | ) |  |  | (4,271 | )
Total |  | $ | 1,859,870 |  |  | $ | 1,021,416 |
Summary of Acquired Loans Included in Consolidated Statement of Condition | The following table presents the outstanding principal balance and related recorded investment of these acquired loans included in the consolidated balance sheets as of the dates stated.
(Dollars in thousands) |  | June 30, 2021 |  |  | December 31, 2020 |
PCI loans |  |  |  |  |  |  |  |
Outstanding principal balance |  | $ | 108,220 |  |  | $ | 1,278 |
Recorded investment |  |  | 94,163 |  |  |  | 1,085 |
Purchased performing loans |  |  |  |  |  |  |  |
Outstanding principal balance |  |  | 877,755 |  |  |  | 97,301 |
Recorded investment |  |  | 874,825 |  |  |  | 96,317 |
Total acquired loans |  |  |  |  |  |  |  |
Outstanding principal balance |  |  | 985,975 |  |  |  | 98,579 |
Recorded investment |  |  | 968,988 |  |  |  | 97,402 |
Summary of Changes in Accretable Yield on Purchased Credit Impaired Loans | The following table presents the changes in the accretable yield for PCI loans for the periods stated.
|  | For the three months ended |  |  | For the six months ended |
(Dollars in thousands) |  | June 30, 2021 |  |  | June 30, 2020 |  |  | June 30, 2021 |  |  | June 30, 2020 |
Balance, beginning of period |  | $ | 9,439 |  |  | $ | 169 |  |  | $ | 123 |  |  | $ | 185 |
Additions |  |  | — |  |  |  | — |  |  |  | 10,030 |  |  |  | — |
Accretion |  |  | (1,625 | ) |  |  | (16 | ) |  |  | (2,465 | ) |  |  | (32 | )
Reclassification of nonaccretable difference due to improvement in expected cash flows |  |  | 2 |  |  |  | — |  |  |  | 106 |  |  |  | — |
Other changes, net |  |  | 14 |  |  |  | — |  |  |  | 36 |  |  |  | — |
Balance, end of period |  | $ | 7,830 |  |  | $ | 153 |  |  | $ | 7,830 |  |  | $ | 153 |
Summary of Financing Receivable, Past Due | The following tables present the aging of the recorded investment of loans held for investment as of the dates stated.
|  | June 30, 2021 |
(Dollars in thousands) |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | Greater than 90 Days Past Due & Accruing |  |  | Nonaccrual |  |  | Total Past Due & Nonaccrual |  |  | PCI Loans |  |  | Current Loans |  |  | Total Loans |
Commercial and industrial |  | $ | 338 |  |  | $ | 332 |  |  | $ | — |  |  | $ | 6,180 |  |  | $ | 6,850 |  |  | $ | 9,235 |  |  | $ | 288,093 |  |  | $ | 304,178 |
Paycheck Protection Program |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 130,489 |  |  |  | 130,489 |
Real estate – construction, commercial |  |  | 16,593 |  |  |  | 7 |  |  |  | 9 |  |  |  | 89 |  |  |  | 16,698 |  |  |  | 22,722 |  |  |  | 103,795 |  |  |  | 143,215 |
Real estate – construction, residential |  |  | — |  |  |  | — |  |  |  | 451 |  |  |  | 255 |  |  |  | 706 |  |  |  | — |  |  |  | 47,188 |  |  |  | 47,894 |
Real estate – mortgage, commercial |  |  | 2,007 |  |  |  | — |  |  |  | 28 |  |  |  | 3,220 |  |  |  | 5,255 |  |  |  | 52,945 |  |  |  | 614,392 |  |  |  | 672,592 |
Real estate – mortgage, residential |  |  | 924 |  |  |  | 2,182 |  |  |  | 1,308 |  |  |  | 1,588 |  |  |  | 6,002 |  |  |  | 7,905 |  |  |  | 476,846 |  |  |  | 490,753 |
Real estate – mortgage, farmland |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,537 |  |  |  | 6,537 |
Consumer |  |  | 668 |  |  |  | 226 |  |  |  | 97 |  |  |  | 594 |  |  |  | 1,585 |  |  |  | 1,356 |  |  |  | 62,279 |  |  |  | 65,220 |
Less: Deferred loan fees, net of costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,008 | ) |  |  | (1,008 | )
Total Loans |  | $ | 20,530 |  |  | $ | 2,747 |  |  | $ | 1,893 |  |  | $ | 11,926 |  |  | $ | 37,096 |  |  | $ | 94,163 |  |  | $ | 1,728,611 |  |  | $ | 1,859,870 |
|  | December 31, 2020 |
(Dollars in thousands) |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | Greater than 90 Days Past Due & Accruing |  |  | Nonaccrual |  |  | Total Past Due & Nonaccrual |  |  | PCI Loans |  |  | Current Loans |  |  | Total Loans |
Commercial and industrial |  | $ | 1,117 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,310 |  |  | $ | 2,427 |  |  | $ | — |  |  | $ | 121,248 |  |  | $ | 123,675 |
Paycheck Protection Program |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 292,068 |  |  |  | 292,068 |
Real estate – construction, commercial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 35 |  |  |  | 54,667 |  |  |  | 54,702 |
Real estate – construction, residential |  |  | 262 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 262 |  |  |  | — |  |  |  | 17,778 |  |  |  | 18,040 |
Real estate – mortgage, commercial |  |  | 771 |  |  |  | 211 |  |  |  | — |  |  |  | 3,643 |  |  |  | 4,625 |  |  |  | 808 |  |  |  | 268,066 |  |  |  | 273,499 |
Real estate – mortgage, residential |  |  | 1,062 |  |  |  | — |  |  |  | 46 |  |  |  | 881 |  |  |  | 1,989 |  |  |  | 242 |  |  |  | 211,173 |  |  |  | 213,404 |
Real estate – mortgage, farmland |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,615 |  |  |  | 3,615 |
Consumer |  |  | 935 |  |  |  | 334 |  |  |  | — |  |  |  | 714 |  |  |  | 1,983 |  |  |  | — |  |  |  | 44,701 |  |  |  | 46,684 |
Less: Deferred loan fees, net of costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  | (4,271 | ) |  |  | (4,271 | )
Total Loans |  | $ | 4,147 |  |  | $ | 545 |  |  | $ | 46 |  |  | $ | 6,548 |  |  | $ | 11,286 |  |  | $ | 1,085 |  |  | $ | 1,009,045 |  |  | $ | 1,021,416 |
Summary of Recorded Investment of PCI Loans, Past Due | The following tables present the aging of the recorded investment of PCI loans as of the dates stated.
| June 30, 2021 |
(Dollars in thousands) | 30-89 Days Past Due |  |  | Greater than 90 Days Past Due & Accruing |  |  | Current Loans |  |  | Total Loans |
Commercial and industrial | $ | — |  |  | $ | — |  |  | $ | 9,235 |  |  | $ | 9,235 |
Real estate – construction, commercial |  | 13,904 |  |  |  | 9 |  |  |  | 8,809 |  |  |  | 22,722 |
Real estate – mortgage, commercial |  | 133 |  |  |  | 28 |  |  |  | 52,784 |  |  |  | 52,945 |
Real estate – mortgage, residential |  | 1,068 |  |  |  | 1,308 |  |  |  | 5,529 |  |  |  | 7,905 |
Consumer |  | 20 |  |  |  | — |  |  |  | 1,336 |  |  |  | 1,356 |
Total PCI Loans | $ | 15,125 |  |  | $ | 1,345 |  |  | $ | 77,693 |  |  | $ | 94,163 |
| December 31, 2020 |
(Dollars in thousands) | 30-89 Days Past Due |  |  | Greater than 90 Days Past Due & Accruing |  |  | Current Loans |  |  | Total Loans |
Real estate – construction, commercial |  | — |  |  |  | — |  |  |  | 35 |  |  |  | 35 |
Real estate – mortgage, commercial |  | 224 |  |  |  | — |  |  |  | 584 |  |  |  | 808 |
Real estate – mortgage, residential |  | 35 |  |  |  | — |  |  |  | 207 |  |  |  | 242 |
Total PCI Loans | $ | 259 |  |  | $ | — |  |  | $ | 826 |  |  | $ | 1,085 |
Summary of Loan Portfolio Individually and Collectively Evaluated for Impairment | The following tables present a summary of the loan portfolio individually and collectively evaluated for impairment as of the dates stated.
|  | June 30, 2021 |
(Dollars in thousands) |  | Individually Evaluated for Impairment |  |  | Collectively Evaluated for Impairment |  |  | Total |
Originated and purchased performing loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 4,810 |  |  | $ | 290,133 |  |  | $ | 294,943 |
Real estate – construction, commercial |  |  | 536 |  |  |  | 119,958 |  |  |  | 120,494 |
Real estate – construction, residential |  |  | — |  |  |  | 47,894 |  |  |  | 47,894 |
Real estate – mortgage, commercial |  |  | 1,378 |  |  |  | 618,269 |  |  |  | 619,647 |
Real estate – mortgage, residential |  |  | 976 |  |  |  | 481,871 |  |  |  | 482,847 |
Real estate – mortgage, farmland |  |  | — |  |  |  | 6,537 |  |  |  | 6,537 |
Consumer |  |  | — |  |  |  | 63,864 |  |  |  | 63,864 |
Total originated and purchased performing loans |  |  | 7,700 |  |  |  | 1,628,526 |  |  |  | 1,636,226 |
PCI loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | — |  |  |  | 9,235 |  |  |  | 9,235 |
Real estate – construction, commercial |  |  | — |  |  |  | 22,721 |  |  |  | 22,721 |
Real estate – mortgage, commercial |  |  | — |  |  |  | 52,945 |  |  |  | 52,945 |
Real estate – mortgage, residential |  |  | — |  |  |  | 7,906 |  |  |  | 7,906 |
Consumer |  |  | — |  |  |  | 1,356 |  |  |  | 1,356 |
Total PCI loans |  |  | — |  |  |  | 94,163 |  |  |  | 94,163 |
Gross loans |  |  | 7,700 |  |  |  | 1,722,689 |  |  |  | 1,730,389 |
Less: Deferred loan fees, net of costs |  |  | — |  |  |  | (722 | ) |  |  | (722 | )
Total |  | $ | 7,700 |  |  | $ | 1,721,967 |  |  | $ | 1,729,667 |
|  | December 31, 2020 |
(Dollars in thousands) |  | Individually Evaluated for Impairment |  |  | Collectively Evaluated for Impairment |  |  | Total |
Originated and purchased performing loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 234 |  |  | $ | 123,441 |  |  | $ | 123,675 |
Real estate – construction, commercial |  |  | — |  |  |  | 54,667 |  |  |  | 54,667 |
Real estate – construction, residential |  |  | — |  |  |  | 18,040 |  |  |  | 18,040 |
Real estate – mortgage, commercial |  |  | 1,645 |  |  |  | 271,046 |  |  |  | 272,691 |
Real estate – mortgage, residential |  |  | 452 |  |  |  | 212,710 |  |  |  | 213,162 |
Real estate – mortgage, farmland |  |  | — |  |  |  | 3,615 |  |  |  | 3,615 |
Consumer |  |  | — |  |  |  | 46,684 |  |  |  | 46,684 |
Total originated and purchased performing loans |  |  | 2,331 |  |  |  | 730,203 |  |  |  | 732,534 |
PCI loans: |  |  |  |  |  |  |  |  |  |  |  |
Real estate – construction, commercial |  |  | — |  |  |  | 35 |  |  |  | 35 |
Real estate – mortgage, commercial |  |  | — |  |  |  | 808 |  |  |  | 808 |
Real estate – mortgage, residential |  |  | — |  |  |  | 242 |  |  |  | 242 |
Total PCI loans |  |  | — |  |  |  | 1,085 |  |  |  | 1,085 |
Gross loans |  |  | 2,331 |  |  |  | 731,288 |  |  |  | 733,619 |
Less: Deferred loan fees, net of costs |  |  | — |  |  |  | (736 | ) |  |  | (736 | )
Total |  | $ | 2,331 |  |  | $ | 730,552 |  |  | $ | 732,883 |
Summary of Impaired Financing Receivables | The following tables present information related to impaired loans by loan type as of the dates presented.
|  | June 30, 2021 |  |  | December 31, 2020 |
(Dollars in thousands) |  | Recorded Investment |  |  | Unpaid Principal Balance |  |  | Related Allowance |  |  | Recorded Investment |  |  | Unpaid Principal Balance |  |  | Related Allowance |
With no specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 4,735 |  |  | $ | 4,735 |  |  | $ | — |  |  | $ | 234 |  |  | $ | 234 |  |  | $ | 144 |
Real estate – construction, commercial |  |  | 535 |  |  |  | 535 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate – mortgage, commercial |  |  | 182 |  |  |  | 182 |  |  |  | — |  |  |  | 1,645 |  |  |  | 2,030 |  |  |  | — |
Real estate – mortgage, residential |  |  | 919 |  |  |  | 919 |  |  |  | — |  |  |  | 452 |  |  |  | 571 |  |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate – mortgage, commercial |  |  | 1,188 |  |  |  | 1,188 |  |  |  | 387 |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate – mortgage, residential |  |  | 57 |  |  |  | 57 |  |  |  | 57 |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 7,616 |  |  | $ | 7,616 |  |  | $ | 444 |  |  | $ | 2,331 |  |  | $ | 2,835 |  |  | $ | 144 |
|  | For the three months ended |
|  | June 30, 2021 |  |  | June 30, 2020 |
(Dollars in thousands) |  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Average Recorded Investment |  |  | Interest Income Recognized |
With no specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 4,324 |  |  | $ | 49 |  |  | $ | — |  |  | $ | — |
Real estate – construction, commercial |  |  | 537 |  |  |  | 8 |  |  |  | — |  |  |  | — |
Real estate – mortgage, commercial |  |  | 185 |  |  |  | 3 |  |  |  | — |  |  |  | — |
Real estate – mortgage, residential |  |  | 920 |  |  |  | 7 |  |  |  | 581 |  |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | 265 |  |  |  | — |
Real estate – mortgage, commercial |  |  | 1,207 |  |  |  | 17 |  |  |  | — |  |  |  | — |
Real estate – mortgage, residential |  |  | 57 |  |  |  | — |  |  |  | 376 |  |  |  | — |
|  | $ | 7,230 |  |  | $ | 84 |  |  | $ | 1,222 |  |  | $ | — |
|  | For the six months ended |
|  | June 30, 2021 |  |  | June 30, 2020 |
(Dollars in thousands) |  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Average Recorded Investment |  |  | Interest Income Recognized |
With no specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 4,409 |  |  | $ | 99 |  |  | $ | — |  |  | $ | — |
Real estate – construction, commercial |  |  | 539 |  |  |  | 16 |  |  |  | — |  |  |  | — |
Real estate – mortgage, commercial |  |  | 210 |  |  |  | 7 |  |  |  | — |  |  |  | — |
Real estate – mortgage, residential |  |  | 890 |  |  |  | 13 |  |  |  | 581 |  |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | 265 |  |  |  | 1 |
Real estate – mortgage, commercial |  |  | 1,211 |  |  |  | 34 |  |  |  | — |  |  |  | — |
Real estate – mortgage, residential |  |  | 116 |  |  |  | — |  |  |  | 376 |  |  |  | 2 |
|  | $ | 7,375 |  |  | $ | 169 |  |  | $ | 1,222 |  |  | $ | 3 |
Summary of Allowance for Loans Losses | The following table presents an analysis of the change in the ALL by loan type as of and for the periods stated.
|  | For the three months ended |  |  | For the six months ended |
(Dollars in thousands) |  | June 30, 2021 |  |  | June 30, 2020 |  |  | June 30, 2021 |  |  | June 30, 2020 |
ALL, beginning of period |  | $ | 13,402 |  |  | $ | 4,897 |  |  | $ | 13,827 |  |  | $ | 4,572 |
Charge-offs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | (857 | ) |  | $ | — |  |  | $ | (1,216 | ) |  | $ | — |
Real estate – mortgage |  |  | (1 | ) |  |  | — |  |  |  | (13 | ) |  |  | — |
Consumer |  |  | (133 | ) |  |  | (255 | ) |  |  | (396 | ) |  |  | (574 | )
Total charge-offs |  |  | (991 | ) |  |  | (255 | ) |  |  | (1,625 | ) |  |  | (574 | )
Recoveries |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | 394 |  |  |  | — |  |  |  | 450 |  |  |  | 1 |
Real estate – mortgage |  |  | 87 |  |  |  | — |  |  |  | 103 |  |  |  | — |
Consumer |  |  | 115 |  |  |  | 64 |  |  |  | 252 |  |  |  | 132 |
Total recoveries |  |  | 596 |  |  |  | 64 |  |  |  | 805 |  |  |  | 133 |
Net charge-offs |  |  | (395 | ) |  |  | (191 | ) |  |  | (820 | ) |  |  | (441 | )
Provision for loan losses |  |  | — |  |  |  | 3,500 |  |  |  | — |  |  |  | 4,075 |
ALL, end of period |  | $ | 13,007 |  |  | $ | 8,206 |  |  | $ | 13,007 |  |  | $ | 8,206 |
Summary of Primary Segments of ALLL, Loans Individually and Collectively Evaluated for Impairment | The following tables summarize the primary segments of the ALL, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment for the periods stated
|  | For the three months ended June 30, 2021 |
(Dollars in thousands) |  | Commercial and Industrial |  |  | Real Estate – Construction Commercial |  |  | Real Estate – Construction Residential |  |  | Real Estate – Mortgage, Commercial |  |  | Real Estate – Mortgage, Residential |  |  | Real Estate – Mortgage, Farmland |  |  | Consumer |  |  | Total |
ALL, beginning of period |  | $ | 3,459 |  |  | $ | 960 |  |  | $ | 150 |  |  |  | 4,215 |  |  | $ | 1,485 |  |  | $ | 18 |  |  | $ | 3,115 |  |  | $ | 13,402 |
Charge-offs |  |  | (857 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (133 | ) |  |  | (991 | )
Recoveries |  |  | 394 |  |  |  | — |  |  |  | — |  |  |  | 79 |  |  |  | 8 |  |  |  | — |  |  |  | 115 |  |  |  | 596 |
Provision for loan losses |  |  | 502 |  |  |  | (208 | ) |  |  | (72 | ) |  |  | 1,953 |  |  |  | (734 | ) |  |  | 5 |  |  |  | (1,446 | ) |  |  | — |
ALL, end of period |  | $ | 3,498 |  |  | $ | 752 |  |  | $ | 78 |  |  | $ | 6,247 |  |  | $ | 758 |  |  | $ | 23 |  |  | $ | 1,651 |  |  | $ | 13,007 |
Individually evaluated for impairment |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 387 |  |  | $ | 57 |  |  | $ | — |  |  | $ | — |  |  | $ | 444 |
Collectively evaluated for impairment |  | $ | 3,498 |  |  | $ | 752 |  |  | $ | 78 |  |  | $ | 5,860 |  |  | $ | 701 |  |  | $ | 23 |  |  | $ | 1,651 |  |  | $ | 12,563 |
|  | For the six months ended June 30, 2021 |
(Dollars in thousands) |  | Commercial and Industrial |  |  | Real Estate – Construction Commercial |  |  | Real Estate – Construction Residential |  |  | Real Estate – Mortgage Commercial |  |  | Real Estate – Mortgage Residential |  |  | Real Estate – Mortgage, Farmland |  |  | Consumer |  |  | Total |
ALL, beginning of period |  | $ | 3,762 |  |  | $ | 960 |  |  | $ | 150 |  |  |  | 4,215 |  |  | $ | 1,481 |  |  | $ | 18 |  |  | $ | 3,241 |  |  | $ | 13,827 |
Charge-offs |  |  | (1,216 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (13 | ) |  |  | — |  |  |  | (396 | ) |  |  | (1,625 | )
Recoveries |  |  | 450 |  |  |  | — |  |  |  | — |  |  |  | 79 |  |  |  | 24 |  |  |  | — |  |  |  | 252 |  |  |  | 805 |
Provision for loan losses |  |  | 502 |  |  |  | (208 | ) |  |  | (72 | ) |  |  | 1,953 |  |  |  | (734 | ) |  |  | 5 |  |  |  | (1,446 | ) |  |  | — |
ALL, end of period |  | $ | 3,498 |  |  | $ | 752 |  |  | $ | 78 |  |  | $ | 6,247 |  |  | $ | 758 |  |  | $ | 23 |  |  | $ | 1,651 |  |  | $ | 13,007 |
Individually evaluated for impairment |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 387 |  |  | $ | 57 |  |  | $ | — |  |  | $ | — |  |  | $ | 444 |
Collectively evaluated for impairment |  | $ | 3,498 |  |  | $ | 752 |  |  | $ | 78 |  |  | $ | 5,860 |  |  | $ | 701 |  |  | $ | 23 |  |  | $ | 1,651 |  |  | $ | 12,563 |
Summary of Accounts Notes Loans and Financing Receivable | The following tables present the Company’s loan portfolio by internal loan grade as of the dates stated.
|  | June 30, 2021 |
(Dollars in thousands) |  | 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 |  | $ | 5,324 |  |  | $ | 3,578 |  |  | $ | 133,649 |  |  | $ | 131,944 |  |  | $ | 13,441 |  |  | $ | 5,787 |  |  | $ | 10,455 |  |  | $ | 304,178 |
Paycheck Protection Program |  |  | 130,489 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 130,489 |
Real estate – construction, commercial |  |  | — |  |  |  | 538 |  |  |  | 36,043 |  |  |  | 76,956 |  |  |  | 8,625 |  |  |  | 18,988 |  |  |  | 2,065 |  |  |  | 143,215 |
Real estate – construction, residential |  |  | 108 |  |  |  | 33 |  |  |  | 19,401 |  |  |  | 21,681 |  |  |  | 6,416 |  |  |  | — |  |  |  | 255 |  |  |  | 47,894 |
Real estate – mortgage, commercial |  |  | — |  |  |  | 3,766 |  |  |  | 325,958 |  |  |  | 235,860 |  |  |  | 41,193 |  |  |  | 56,990 |  |  |  | 8,825 |  |  |  | 672,592 |
Real estate – mortgage residential |  |  | 1,663 |  |  |  | 9,393 |  |  |  | 313,336 |  |  |  | 142,353 |  |  |  | 14,530 |  |  |  | 4,158 |  |  |  | 5,320 |  |  |  | 490,753 |
Real estate – mortgage, farmland |  |  | 384 |  |  |  | — |  |  |  | 1,172 |  |  |  | 4,981 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,537 |
Consumer |  |  | 354 |  |  |  | 44 |  |  |  | 18,655 |  |  |  | 43,373 |  |  |  | 1,685 |  |  |  | 496 |  |  |  | 613 |  |  |  | 65,220 |
Gross loans |  | $ | 138,322 |  |  | $ | 17,352 |  |  | $ | 848,214 |  |  | $ | 657,148 |  |  | $ | 85,890 |  |  | $ | 86,419 |  |  | $ | 27,533 |  |  | $ | 1,860,878 |
Less: Deferred loan fees, net of costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,008 | )
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,859,870 |
|  | December 31, 2020 |
(Dollars in thousands) |  | 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 |  | $ | 844 |  |  | $ | 484 |  |  | $ | 23,828 |  |  | $ | 85,928 |  |  | $ | 7,251 |  |  | $ | 4 |  |  | $ | 5,336 |  |  | $ | 123,675 |
Paycheck Protection Program |  |  | 292,068 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 292,068 |
Real estate – construction, commercial |  |  | — |  |  |  | 2,143 |  |  |  | 19,524 |  |  |  | 26,324 |  |  |  | 5,916 |  |  |  | 218 |  |  |  | 577 |  |  |  | 54,702 |
Real estate – construction, residential |  |  | — |  |  |  | — |  |  |  | 3,073 |  |  |  | 8,247 |  |  |  | 6,458 |  |  |  | — |  |  |  | 262 |  |  |  | 18,040 |
Real estate – mortgage, commercial |  |  | — |  |  |  | 3,994 |  |  |  | 128,163 |  |  |  | 114,977 |  |  |  | 15,799 |  |  |  | 2,968 |  |  |  | 7,598 |  |  |  | 273,499 |
Real estate – mortgage residential |  |  | — |  |  |  | 3,583 |  |  |  | 101,078 |  |  |  | 100,601 |  |  |  | 5,750 |  |  |  | 158 |  |  |  | 2,234 |  |  |  | 213,404 |
Real estate – mortgage, farmland |  |  | 444 |  |  |  | — |  |  |  | 1,175 |  |  |  | 1,996 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,615 |
Consumer |  |  | 324 |  |  |  | 36 |  |  |  | 17,062 |  |  |  | 28,033 |  |  |  | 521 |  |  |  | 1 |  |  |  | 707 |  |  |  | 46,684 |
Gross loans |  | $ | 293,680 |  |  | $ | 10,240 |  |  | $ | 293,903 |  |  | $ | 366,106 |  |  | $ | 41,695 |  |  | $ | 3,349 |  |  | $ | 16,714 |  |  | $ | 1,025,687 |
Less: Deferred loan fees, net of costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,271 | )
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,021,416 |

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