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Loans and Allowance for Loan Losses | 6 Months Ended
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Jun. 30, 2022
Receivables [Abstract] |
Loans and Allowance for Loan Losses | Note 4 – Loans and Allowance for Loan Losses The following table presents loans held for investment, including Paycheck Protection Program ("PPP") loans, as of the dates stated.
(Dollars in thousands) |  | June 30, 2022 |  |  | December 31, 2021 |
Commercial and industrial |  | $ | 496,962 |  |  | $ | 320,827 |
Paycheck Protection Program |  |  | 15,654 |  |  |  | 30,742 |
Real estate – construction, commercial |  |  | 122,455 |  |  |  | 146,523 |
Real estate – construction, residential |  |  | 70,860 |  |  |  | 58,857 |
Real estate – mortgage, commercial |  |  | 791,465 |  |  |  | 701,503 |
Real estate – mortgage, residential |  |  | 522,219 |  |  |  | 493,982 |
Real estate – mortgage, farmland |  |  | 6,880 |  |  |  | 6,173 |
Consumer |  |  | 39,092 |  |  |  | 49,877 |
Gross loans |  |  | 2,065,587 |  |  |  | 1,808,484 |
Less: deferred loan fees, net of costs |  |  | (1,550 | ) |  |  | (906 | )
Total |  | $ | 2,064,037 |  |  | $ | 1,807,578 |
The Company has pledged certain commercial and residential mortgages as collateral for borrowings with the FHLB. Loans totaling $404.5 million and $478.3 million were pledged as of June 30, 2022 and December 31, 2021, respectively. Additionally, PPP loans were pledged as collateral for the FRB's Paycheck Protection Program Liquidity Facility ("PPPLF") advances in the amount of $60 thousand and $17.9 million as of June 30, 2022 and December 31, 2021, respectively. As a result of the Bay Banks Merger and the 2019 acquisition of Virginia Community Bankshares, Inc., the acquired loan portfolios were initially measured at fair value as of the respective acquisition dates and subsequently accounted for as either purchased performing loans or purchased credit-impaired ("PCI") loans. 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, 2022 |  |  | December 31, 2021 |
PCI loans |  |  |  |  |  |
Outstanding principal balance |  | $ | 75,897 |  |  | $ | 97,418 |
Recorded investment |  |  | 66,021 |  |  |  | 84,029 |
Purchased performing loans |  |  |  |  |  |
Outstanding principal balance |  |  | 607,497 |  |  |  | 706,147 |
Recorded investment |  |  | 605,152 |  |  |  | 703,333 |
Total acquired loans |  |  |  |  |  |
Outstanding principal balance |  |  | 683,394 |  |  |  | 803,565 |
Recorded investment |  |  | 671,173 |  |  |  | 787,362 |
The following table presents the changes in the accretable yield for PCI loans for the periods stated.
|  | For the three months ended June 30, |  |  | For the six months ended June 30, |
(Dollars in thousands) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Balance, beginning of period |  | $ | 13,337 |  |  | $ | 9,439 |  |  | $ | 16,849 |  |  | $ | 123 |
Additions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10,030 |
Accretion |  |  | (1,750 | ) |  |  | (1,625 | ) |  |  | (5,262 | ) |  |  | (2,465 | )
Reclassification of nonaccretable difference due to improvement in expected cash flows |  |  | 2,515 |  |  |  | 2 |  |  |  | 2,515 |  |  |  | 106 |
Other changes, net |  |  | (1,157 | ) |  |  | 14 |  |  |  | (1,157 | ) |  |  | 36 |
Balance, end of period |  | $ | 12,945 |  |  | $ | 7,830 |  |  | $ | 12,945 |  |  | $ | 7,830 |
The following tables present the aging of the recorded investment of loans held for investment as of the dates stated.
|  | June 30, 2022 |
(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 |  | $ | 652 |  |  | $ | 11 |  |  | $ | — |  |  | $ | 3,993 |  |  | $ | 4,656 |  |  | $ | 3,516 |  |  | $ | 488,790 |  |  | $ | 496,962 |
Paycheck Protection Program |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 15,654 |  |  |  | 15,654 |
Real estate – construction, commercial |  |  | 1,794 |  |  |  | 521 |  |  |  | — |  |  |  | 352 |  |  |  | 2,667 |  |  |  | 1,191 |  |  |  | 118,597 |  |  |  | 122,455 |
Real estate – construction, residential |  |  | — |  |  |  | 183 |  |  |  | — |  |  |  | 329 |  |  |  | 512 |  |  |  | — |  |  |  | 70,348 |  |  |  | 70,860 |
Real estate – mortgage, commercial |  |  | 1,397 |  |  |  | — |  |  |  | — |  |  |  | 952 |  |  |  | 2,349 |  |  |  | 55,042 |  |  |  | 734,074 |  |  |  | 791,465 |
Real estate – mortgage, residential |  |  | 602 |  |  |  | 2,428 |  |  |  | — |  |  |  | 5,599 |  |  |  | 8,629 |  |  |  | 5,903 |  |  |  | 507,687 |  |  |  | 522,219 |
Real estate – mortgage, farmland |  |  | 625 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 625 |  |  |  | — |  |  |  | 6,255 |  |  |  | 6,880 |
Consumer |  |  | 768 |  |  |  | 76 |  |  |  | 308 |  |  |  | 648 |  |  |  | 1,800 |  |  |  | 369 |  |  |  | 36,923 |  |  |  | 39,092 |
Less: deferred loan fees, net of costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,550 | ) |  |  | (1,550 | )
Total Loans |  | $ | 5,838 |  |  | $ | 3,219 |  |  | $ | 308 |  |  | $ | 11,873 |  |  | $ | 21,238 |  |  | $ | 66,021 |  |  | $ | 1,976,778 |  |  | $ | 2,064,037 |
|  | December 31, 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 |  | $ | 2,338 |  |  | $ | — |  |  | $ | 30 |  |  | $ | 6,066 |  |  | $ | 8,434 |  |  | $ | 8,903 |  |  | $ | 303,490 |  |  | $ | 320,827 |
Paycheck Protection Program |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 30,742 |  |  |  | 30,742 |
Real estate – construction, commercial |  |  | 271 |  |  |  | — |  |  |  | — |  |  |  | 88 |  |  |  | 359 |  |  |  | 14,754 |  |  |  | 131,410 |  |  |  | 146,523 |
Real estate – construction, residential |  |  | 651 |  |  |  | 98 |  |  |  | 279 |  |  |  | 413 |  |  |  | 1,441 |  |  |  | — |  |  |  | 57,416 |  |  |  | 58,857 |
Real estate – mortgage, commercial |  |  | 53 |  |  |  | — |  |  |  | — |  |  |  | 3,024 |  |  |  | 3,077 |  |  |  | 51,872 |  |  |  | 646,554 |  |  |  | 701,503 |
Real estate – mortgage, residential |  |  | 13,950 |  |  |  | 1,587 |  |  |  | 359 |  |  |  | 5,190 |  |  |  | 21,086 |  |  |  | 7,621 |  |  |  | 465,275 |  |  |  | 493,982 |
Real estate – mortgage, farmland |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,173 |  |  |  | 6,173 |
Consumer |  |  | 902 |  |  |  | 583 |  |  |  | 249 |  |  |  | 396 |  |  |  | 2,130 |  |  |  | 879 |  |  |  | 46,868 |  |  |  | 49,877 |
Less: deferred loan fees, net of costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (906 | ) |  |  | (906 | )
Total Loans |  | $ | 18,165 |  |  | $ | 2,268 |  |  | $ | 917 |  |  | $ | 15,177 |  |  | $ | 36,527 |  |  | $ | 84,029 |  |  | $ | 1,687,022 |  |  | $ | 1,807,578 |
The following tables present the aging of the recorded investment of PCI loans as of the dates stated.
|  | June 30, 2022 |
(Dollars in thousands) |  | 30-89 Days Past Due |  |  | Greater than 90 Days Past Due & Accruing |  |  | Current Loans |  |  | Total Loans |
Commercial and industrial |  | $ | — |  |  | $ | — |  |  | $ | 3,516 |  |  | $ | 3,516 |
Real estate – construction, commercial |  |  | — |  |  |  | — |  |  |  | 1,191 |  |  |  | 1,191 |
Real estate – mortgage, commercial |  |  | — |  |  |  | — |  |  |  | 55,042 |  |  |  | 55,042 |
Real estate – mortgage, residential |  |  | 24 |  |  |  | — |  |  |  | 5,879 |  |  |  | 5,903 |
Consumer |  |  | — |  |  |  | — |  |  |  | 369 |  |  |  | 369 |
Total PCI Loans |  | $ | 24 |  |  | $ | — |  |  | $ | 65,997 |  |  | $ | 66,021 |
|  | December 31, 2021 |
(Dollars in thousands) |  | 30-89 Days Past Due |  |  | Greater than 90 Days Past Due & Accruing |  |  | Current Loans |  |  | Total Loans |
Commercial and industrial |  | $ | — |  |  | $ | — |  |  | $ | 8,903 |  |  | $ | 8,903 |
Real estate – construction, commercial |  |  | — |  |  |  | — |  |  |  | 14,754 |  |  |  | 14,754 |
Real estate – mortgage, commercial |  |  | — |  |  |  | — |  |  |  | 51,872 |  |  |  | 51,872 |
Real estate – mortgage, residential |  |  | 147 |  |  |  | — |  |  |  | 7,474 |  |  |  | 7,621 |
Consumer |  |  | — |  |  |  | 4 |  |  |  | 875 |  |  |  | 879 |
Total PCI Loans |  | $ | 147 |  |  | $ | 4 |  |  | $ | 83,878 |  |  | $ | 84,029 |
The following tables present a summary of the loan portfolio individually and collectively evaluated for impairment as of the dates stated.
|  | June 30, 2022 |
(Dollars in thousands) |  | Individually Evaluated for Impairment |  |  | Collectively Evaluated for Impairment |  |  | Total Loan Balances |  |  | Related Allowance for Loan Losses |
PCI loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | — |  |  | $ | 3,516 |  |  | $ | 3,516 |  |  | $ | — |
Real estate – construction, commercial |  |  | — |  |  |  | 1,191 |  |  |  | 1,191 |  |  |  | — |
Real estate – mortgage, commercial |  |  | — |  |  |  | 55,042 |  |  |  | 55,042 |  |  |  | — |
Real estate – mortgage, residential |  |  | — |  |  |  | 5,903 |  |  |  | 5,903 |  |  |  | 11 |
Consumer |  |  | — |  |  |  | 369 |  |  |  | 369 |  |  |  | — |
Total PCI loans |  |  | — |  |  |  | 66,021 |  |  |  | 66,021 |  |  |  | 11 |
Originated and purchased performing loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | 7,858 |  |  |  | 485,588 |  |  |  | 493,446 |  |  |  | 10,435 |
Real estate – construction, commercial |  |  | 527 |  |  |  | 121,928 |  |  |  | 122,455 |  |  |  | 284 |
Real estate – construction, residential |  |  | — |  |  |  | 69,669 |  |  |  | 69,669 |  |  |  | 117 |
Real estate – mortgage, commercial |  |  | 9,013 |  |  |  | 727,410 |  |  |  | 736,423 |  |  |  | 2,903 |
Real estate – mortgage, residential |  |  | 1,500 |  |  |  | 514,816 |  |  |  | 516,316 |  |  |  | 2,345 |
Real estate – mortgage, farmland |  |  | — |  |  |  | 6,880 |  |  |  | 6,880 |  |  |  | 25 |
Consumer |  |  | — |  |  |  | 38,723 |  |  |  | 38,723 |  |  |  | 1,122 |
Total originated and purchased performing loans |  |  | 18,898 |  |  |  | 1,965,014 |  |  |  | 1,983,912 |  |  |  | 17,231 |
Gross loans |  |  | 18,898 |  |  |  | 2,031,035 |  |  |  | 2,049,933 |  |  |  | 17,242 |
Less: deferred loan fees, net of costs |  |  | — |  |  |  | (1,550 | ) |  |  | (1,550 | ) |  |  | — |
Total |  | $ | 18,898 |  |  | $ | 2,029,485 |  |  | $ | 2,048,383 |  |  | $ | 17,242 |
|  | December 31, 2021 |
(Dollars in thousands) |  | Individually Evaluated for Impairment |  |  | Collectively Evaluated for Impairment |  |  | Total Loan Balances |  |  | Related Allowance for Loan Losses |
PCI loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | — |  |  | $ | 8,903 |  |  | $ | 8,903 |  |  | $ | — |
Real estate – construction, commercial |  |  | — |  |  |  | 14,754 |  |  |  | 14,754 |  |  |  | — |
Real estate – mortgage, commercial |  |  | — |  |  |  | 51,872 |  |  |  | 51,872 |  |  |  | — |
Real estate – mortgage, residential |  |  | — |  |  |  | 7,621 |  |  |  | 7,621 |  |  |  | 117 |
Consumer |  |  | — |  |  |  | 879 |  |  |  | 879 |  |  |  | — |
Total PCI loans |  |  | — |  |  |  | 84,029 |  |  |  | 84,029 |  |  |  | 117 |
Originated and purchased performing loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | 4,612 |  |  |  | 307,312 |  |  |  | 311,924 |  |  |  | 7,133 |
Real estate – construction, commercial |  |  | 527 |  |  |  | 131,242 |  |  |  | 131,769 |  |  |  | 953 |
Real estate – construction, residential |  |  | — |  |  |  | 58,857 |  |  |  | 58,857 |  |  |  | 395 |
Real estate – mortgage, commercial |  |  | 3,194 |  |  |  | 646,437 |  |  |  | 649,631 |  |  |  | 1,403 |
Real estate – mortgage, residential |  |  | 1,400 |  |  |  | 484,961 |  |  |  | 486,361 |  |  |  | 1,184 |
Real estate – mortgage, farmland |  |  | — |  |  |  | 6,173 |  |  |  | 6,173 |  |  |  | 23 |
Consumer |  |  | — |  |  |  | 48,998 |  |  |  | 48,998 |  |  |  | 913 |
Total originated and purchased performing loans |  |  | 9,733 |  |  |  | 1,683,980 |  |  |  | 1,693,713 |  |  |  | 12,004 |
Gross loans |  |  | 9,733 |  |  |  | 1,768,009 |  |  |  | 1,777,742 |  |  |  | 12,121 |
Less: deferred loan fees, net of costs |  |  | — |  |  |  | (570 | ) |  |  | (570 | ) |  |  | — |
Total |  | $ | 9,733 |  |  | $ | 1,767,439 |  |  | $ | 1,777,172 |  |  | $ | 12,121 |
The tables above exclude PPP loans of $15.7 million and $30.7 million as of June 30, 2022 and December 31, 2021, respectively. PPP loans are fully guaranteed by the U.S. government; therefore, the Company recorded no allowance for loan losses ("ALL") for these loans as of June 30, 2022 and December 31, 2021. In future periods, the Company may be required to establish an ALL for these loans, which would result in a provision for loan losses charged to earnings. The following tables present information related to impaired loans by loan type as of the dates and for the periods stated.
|  | June 30, 2022 |  |  | December 31, 2021 |
(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 |  | $ | 4,290 |  |  | $ | 8,061 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Real estate – construction, commercial |  |  | 527 |  |  |  | 521 |  |  |  | — |  |  |  | 527 |  |  |  | 527 |  |  |  | — |
Real estate – mortgage, commercial |  |  | 5,973 |  |  |  | 6,229 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate – mortgage, residential |  |  | 1,442 |  |  |  | 1,439 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 3,568 |  |  | $ | 5,875 |  |  | $ | 360 |  |  | $ | 4,612 |  |  | $ | 4,612 |  |  | $ | 836 |
Real estate – mortgage, commercial |  |  | 3,040 |  |  |  | 3,039 |  |  |  | 1 |  |  |  | 3,194 |  |  |  | 3,849 |  |  |  | 1 |
Real estate – mortgage, residential |  |  | 58 |  |  |  | 58 |  |  |  | 14 |  |  |  | 1,400 |  |  |  | 1,400 |  |  |  | 42 |
Total |  | $ | 18,898 |  |  | $ | 25,222 |  |  | $ | 375 |  |  | $ | 9,733 |  |  | $ | 10,388 |  |  | $ | 879 |
|  | For the three months ended |
|  | June 30, 2022 |  |  | June 30, 2021 |
(Dollars in thousands) |  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Average Recorded Investment |  |  | Interest Income Recognized |
With no specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 6,203 |  |  | $ | 12 |  |  | $ | 4,324 |  |  | $ | 49 |
Real estate – construction, commercial |  |  | 521 |  |  |  | 8 |  |  |  | 537 |  |  |  | 8 |
Real estate – mortgage, commercial |  |  | 6,254 |  |  |  | 100 |  |  |  | 185 |  |  |  | 3 |
Real estate – mortgage, residential |  |  | 1,441 |  |  |  | 3 |  |  |  | 920 |  |  |  | 7 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 6,619 |  |  | $ | 33 |  |  | $ | — |  |  | $ | — |
Real estate – mortgage, commercial |  |  | 3,570 |  |  |  | 2 |  |  |  | 1,207 |  |  |  | 17 |
Real estate – mortgage, residential |  |  | 58 |  |  |  | 5 |  |  |  | 57 |  |  |  | — |
Total |  | $ | 24,666 |  |  | $ | 163 |  |  | $ | 7,230 |  |  | $ | 84 |
|  | For the six months ended |
|  | June 30, 2022 |  |  | June 30, 2021 |
(Dollars in thousands) |  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Average Recorded Investment |  |  | Interest Income Recognized |
With no specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 5,754 |  |  | $ | 74 |  |  | $ | 4,409 |  |  | $ | 99 |
Real estate – construction, commercial |  |  | 523 |  |  |  | 8 |  |  |  | 539 |  |  |  | 16 |
Real estate – mortgage, commercial |  |  | 9,067 |  |  |  | 148 |  |  |  | 210 |  |  |  | 7 |
Real estate – mortgage, residential |  |  | 1,392 |  |  |  | 17 |  |  |  | 890 |  |  |  | 13 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 4,955 |  |  | $ | 33 |  |  | $ | — |  |  | $ | — |
Real estate – mortgage, commercial |  |  | 1,829 |  |  |  | 2 |  |  |  | 1,211 |  |  |  | 34 |
Real estate – mortgage, residential |  |  | 59 |  |  |  | 5 |  |  |  | 116 |  |  |  | — |
Total |  | $ | 23,579 |  |  | $ | 287 |  |  | $ | 7,375 |  |  | $ | 169 |
Impaired loans also include certain loans that have been modified in troubled debt restructurings ("TDRs") where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Company’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance, or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months. The Company had 10 TDRs totaling $1.5 million as of June 30, 2022 and eight TDRs totaling $688 thousand as of December 31, 2021. Three residential mortgage loans with a total recorded investment o f $449 thousand were in the process of foreclosure as of June 30, 2022. The following table presents an analysis of the change in the ALL by loan type as of the dates and for the periods stated.
|  | For the three months ended June 30, |  |  | For the six months ended June 30, |
(Dollars in thousands) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
ALL, beginning of period |  | $ | 12,013 |  |  | $ | 13,402 |  |  | $ | 12,121 |  |  | $ | 13,827 |
Charge-offs |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | (1,383 | ) |  |  | (857 | ) |  |  | (3,746 | ) |  |  | (1,216 | )
Real estate – construction |  |  | — |  |  |  | — |  |  |  | (123 | ) |  |  | — |
Real estate – mortgage |  |  | (1,079 | ) |  |  | (1 | ) |  |  | (1,093 | ) |  |  | (13 | )
Consumer |  |  | (329 | ) |  |  | (133 | ) |  |  | (605 | ) |  |  | (396 | )
Total charge-offs |  |  | (2,791 | ) |  |  | (991 | ) |  |  | (5,567 | ) |  |  | (1,625 | )
Recoveries |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | 2 |  |  |  | 394 |  |  |  | 37 |  |  |  | 450 |
Real estate – construction |  |  | 4 |  |  |  | — |  |  |  | 16 |  |  |  | — |
Real estate – mortgage |  |  | 387 |  |  |  | 87 |  |  |  | 391 |  |  |  | 103 |
Consumer |  |  | 133 |  |  |  | 115 |  |  |  | 250 |  |  |  | 252 |
Total recoveries |  |  | 526 |  |  |  | 596 |  |  |  | 694 |  |  |  | 805 |
Net charge-offs |  |  | (2,265 | ) |  |  | (395 | ) |  |  | (4,873 | ) |  |  | (820 | )
Provision for loan losses |  |  | 7,494 |  |  |  | — |  |  |  | 9,994 |  |  |  | — |
ALL, end of period |  | $ | 17,242 |  |  | $ | 13,007 |  |  | $ | 17,242 |  |  | $ | 13,007 |
The following tables present the Company’s loan portfolio by internal loan grade as of the dates stated.
|  | June 30, 2022 |
(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 |  |  | Grade 8 Doubtful |  |  | Total |
PCI loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | — |  |  | $ | — |  |  | $ | 991 |  |  | $ | 1,512 |  |  | $ | 1 |  |  | $ | 627 |  |  | $ | — |  |  | $ | 385 |  |  | $ | 3,516 |
Real estate – construction, commerecial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 23 |  |  |  | — |  |  |  | — |  |  |  | 1,168 |  |  |  | — |  |  |  | 1,191 |
Real estate – mortgage, commercial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18,636 |  |  |  | 20,015 |  |  |  | 14,040 |  |  |  | 2,351 |  |  |  | — |  |  |  | 55,042 |
Real estate – mortgage residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,002 |  |  |  | 1,444 |  |  |  | 1,675 |  |  |  | 1,782 |  |  |  | — |  |  |  | 5,903 |
Consumer loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 361 |  |  |  | 8 |  |  |  | — |  |  |  | 369 |
Total PCI loans |  |  | — |  |  |  | — |  |  |  | 991 |  |  |  | 21,173 |  |  |  | 21,460 |  |  |  | 16,703 |  |  |  | 5,309 |  |  |  | 385 |  |  |  | 66,021 |
Originated and purchased performing loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | 9,281 |  |  |  | 909 |  |  |  | 185,605 |  |  |  | 274,411 |  |  |  | 10,675 |  |  |  | 2,748 |  |  |  | 5,966 |  |  |  | 3,851 |  |  |  | 493,446 |
Paycheck Protection Program |  |  | 15,654 |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 15,654 |
Real estate – construction, commercial |  |  | — |  |  |  | 378 |  |  |  | 17,900 |  |  |  | 93,728 |  |  |  | 8,174 |  |  |  | 65 |  |  |  | 2,210 |  |  |  | — |  |  |  | 122,455 |
Real estate – construction, residential |  |  | — |  |  |  | — |  |  |  | 9,915 |  |  |  | 58,743 |  |  |  | 1,849 |  |  |  | — |  |  |  | (1,031 | ) |  |  | 193 |  |  |  | 69,669 |
Real estate – mortgage, commercial |  |  | — |  |  |  | 2,242 |  |  |  | 258,116 |  |  |  | 417,539 |  |  |  | 43,162 |  |  |  | 5,081 |  |  |  | 6,318 |  |  |  | 3,965 |  |  |  | 736,423 |
Real estate – mortgage residential |  |  | — |  |  |  | 7,417 |  |  |  | 243,445 |  |  |  | 245,797 |  |  |  | 10,630 |  |  |  | 25 |  |  |  | 9,002 |  |  |  | — |  |  |  | 516,316 |
Real estate – mortgage, farmland |  |  | 625 |  |  |  | — |  |  |  | 664 |  |  |  | 5,462 |  |  |  | 129 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,880 |
Consumer loans |  |  | 287 |  |  |  | — |  |  |  | 16,067 |  |  |  | 20,126 |  |  |  | 1,463 |  |  |  | 1 |  |  |  | 779 |  |  |  | — |  |  |  | 38,723 |
Total originated and purchased performing loans: |  |  | 25,847 |  |  |  | 10,946 |  |  |  | 731,712 |  |  |  | 1,115,806 |  |  |  | 76,082 |  |  |  | 7,920 |  |  |  | 23,244 |  |  |  | 8,009 |  |  |  | 1,999,566 |
Gross loans |  | $ | 25,847 |  |  | $ | 10,946 |  |  | $ | 732,703 |  |  | $ | 1,136,979 |  |  | $ | 97,542 |  |  | $ | 24,623 |  |  | $ | 28,553 |  |  | $ | 8,394 |  |  | $ | 2,065,587 |
Less: deferred loan fees, net of costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,550 | )
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,064,037 |
|  | December 31, 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 |  |  | Grade 8 Doubtful |  |  | Total |
PCI loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,567 |  |  | $ | 2,818 |  |  | $ | 2,748 |  |  | $ | 1,770 |  |  | $ | — |  |  | $ | 8,903 |
Real estate – construction, commercial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,423 |  |  |  | — |  |  |  | 11,010 |  |  |  | 1,321 |  |  |  | — |  |  |  | 14,754 |
Real estate – mortgage, commercial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,642 |  |  |  | 3,892 |  |  |  | 33,487 |  |  |  | 11,851 |  |  |  | — |  |  |  | 51,872 |
Real estate – mortgage residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 142 |  |  |  | 1,657 |  |  |  | 2,709 |  |  |  | 3,113 |  |  |  | — |  |  |  | 7,621 |
Consumer loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 388 |  |  |  | 481 |  |  |  | 10 |  |  |  | — |  |  |  | 879 |
Total PCI loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,774 |  |  |  | 8,755 |  |  |  | 50,435 |  |  |  | 18,065 |  |  |  | — |  |  |  | 84,029 |
Originated and purchased performing loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | 291 |  |  |  | 560 |  |  |  | 156,519 |  |  |  | 133,738 |  |  |  | 11,256 |  |  |  | 3,180 |  |  |  | 6,380 |  |  |  | — |  |  |  | 311,924 |
Paycheck Protection Program |  |  | 30,742 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 30,742 |
Real estate – construction, commercial |  |  | — |  |  |  | 412 |  |  |  | 28,973 |  |  |  | 91,900 |  |  |  | 7,995 |  |  |  | 1,846 |  |  |  | 643 |  |  |  | — |  |  |  | 131,769 |
Real estate – construction, residential |  |  | — |  |  |  | — |  |  |  | 14,610 |  |  |  | 40,418 |  |  |  | 3,416 |  |  |  | — |  |  |  | 413 |  |  |  | — |  |  |  | 58,857 |
Real estate – mortgage, commercial |  |  | — |  |  |  | 2,382 |  |  |  | 307,067 |  |  |  | 283,165 |  |  |  | 34,750 |  |  |  | 17,133 |  |  |  | 5,134 |  |  |  | — |  |  |  | 649,631 |
Real estate – mortgage residential |  |  | 990 |  |  |  | 9,218 |  |  |  | 276,992 |  |  |  | 180,980 |  |  |  | 11,107 |  |  |  | 974 |  |  |  | 6,100 |  |  |  | — |  |  |  | 486,361 |
Real estate – mortgage, farmland |  |  | 340 |  |  |  | — |  |  |  | 1,067 |  |  |  | 4,766 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,173 |
Consumer loans |  |  | 262 |  |  |  | 3 |  |  |  | 16,920 |  |  |  | 30,691 |  |  |  | 542 |  |  |  | — |  |  |  | 580 |  |  |  | — |  |  |  | 48,998 |
Total originated and purchased performing loans: |  |  | 32,625 |  |  |  | 12,575 |  |  |  | 802,148 |  |  |  | 765,658 |  |  |  | 69,066 |  |  |  | 23,133 |  |  |  | 19,250 |  |  |  | — |  |  |  | 1,724,455 |
Gross loans |  | $ | 32,625 |  |  | $ | 12,575 |  |  | $ | 802,148 |  |  | $ | 772,432 |  |  | $ | 77,821 |  |  | $ | 73,568 |  |  | $ | 37,315 |  |  | $ | — |  |  | $ | 1,808,484 |
Less: deferred loan fees, net of costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (906 | )
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,807,578 |

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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