XML 49 R36.htm IDEA: XBRL DOCUMENT v3.24.0.1
Loans and Allowance for Credit Losses (Tables)
12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
Summary of Loans Held for Investment

The following table presents loans held for investment, including Paycheck Protection Program ("PPP") loans, as of the dates stated.

 

 

 

December 31,

 

(Dollars in thousands)

 

2023

 

 

2022

 

Commercial and industrial

 

$

506,558

 

 

$

590,049

 

Paycheck Protection Program

 

 

2,386

 

 

 

11,967

 

Real estate – construction, commercial

 

 

180,052

 

 

 

183,301

 

Real estate – construction, residential

 

 

75,832

 

 

 

76,599

 

Real estate – mortgage, commercial

 

 

870,540

 

 

 

864,989

 

Real estate – mortgage, residential

 

 

730,110

 

 

 

631,772

 

Real estate – mortgage, farmland

 

 

5,470

 

 

 

6,599

 

Consumer

 

 

59,169

 

 

 

47,423

 

Gross loans

 

 

2,430,117

 

 

 

2,412,699

 

Deferred loan fees, net of costs

 

 

830

 

 

 

(1,640

)

Total

 

$

2,430,947

 

 

$

2,411,059

 

Summary of Financing Receivable, Past Due

The following table present the aging of the recorded investment of loans held for investment by loan category as of the dates stated.

 

 

 

December 31, 2023

 

(Dollars in thousands)

 

Current
Loans

 

 

30-59
Days
Past Due

 

 

60-89
Days
Past Due

 

 

Greater than
90 Days Past
Due &
Accruing

 

 

Nonaccrual

 

 

Total
Loans

 

Commercial and industrial

 

$

462,553

 

 

$

2,235

 

 

$

632

 

 

$

1,709

 

 

$

39,429

 

 

$

506,558

 

Paycheck Protection Program

 

 

2,386

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,386

 

Real estate – construction, commercial

 

 

177,653

 

 

 

2,016

 

 

 

 

 

 

 

 

 

383

 

 

 

180,052

 

Real estate – construction, residential

 

 

75,309

 

 

 

523

 

 

 

 

 

 

 

 

 

 

 

 

75,832

 

Real estate – mortgage, commercial

 

 

855,263

 

 

 

2,109

 

 

 

714

 

 

 

574

 

 

 

11,880

 

 

 

870,540

 

Real estate – mortgage, residential

 

 

717,141

 

 

 

5,101

 

 

 

288

 

 

 

 

 

 

7,580

 

 

 

730,110

 

Real estate – mortgage, farmland

 

 

5,470

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,470

 

Consumer

 

 

55,084

 

 

 

2,298

 

 

 

279

 

 

 

754

 

 

 

754

 

 

 

59,169

 

Deferred loan fees, net of costs

 

 

830

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

830

 

Total Loans

 

$

2,351,689

 

 

$

14,282

 

 

$

1,913

 

 

$

3,037

 

 

$

60,026

 

 

$

2,430,947

 

 

The following table presents the aging of the amortized cost of loans held for investment as of the date stated.

 

 

December 31, 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

 

$

488

 

 

$

279

 

 

$

 

 

$

68,039

 

 

$

68,806

 

 

$

1,481

 

 

$

519,762

 

 

$

590,049

 

Paycheck Protection Program

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11,967

 

 

 

11,967

 

Real estate – construction, commercial

 

 

1,137

 

 

 

19

 

 

 

 

 

 

714

 

 

 

1,870

 

 

 

 

 

 

181,431

 

 

 

183,301

 

Real estate – construction, residential

 

 

1,416

 

 

 

1,204

 

 

 

 

 

 

 

 

 

2,620

 

 

 

7

 

 

 

73,972

 

 

 

76,599

 

Real estate – mortgage, commercial

 

 

6,198

 

 

 

297

 

 

 

6,234

 

 

 

1,658

 

 

 

14,387

 

 

 

51,223

 

 

 

799,379

 

 

 

864,989

 

Real estate – mortgage, residential

 

 

4,544

 

 

 

231

 

 

 

1,998

 

 

 

5,143

 

 

 

11,916

 

 

 

5,678

 

 

 

614,178

 

 

 

631,772

 

Real estate – mortgage, farmland

 

 

 

 

 

75

 

 

 

 

 

 

 

 

 

75

 

 

 

 

 

 

6,524

 

 

 

6,599

 

Consumer

 

 

880

 

 

 

200

 

 

 

28

 

 

 

495

 

 

 

1,603

 

 

 

359

 

 

 

45,461

 

 

 

47,423

 

Less: deferred loan fees, net of costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,640

)

 

 

(1,640

)

Total Loans

 

$

14,663

 

 

$

2,305

 

 

$

8,260

 

 

$

76,049

 

 

$

101,277

 

 

$

58,748

 

 

$

2,251,034

 

 

$

2,411,059

 

Summary of Recorded Investment of Loans Held for Investment by Internal Loan Grade by Year of Orgination

The following table presents the recorded investment of loans held for investment by internal loan risk grade by year of origination as of December 31, 2023. Also presented are current period gross charge-offs by loan type as of and for the year ended December 31, 2023.

 

 

 

Term Loans Recorded Investment Basis by Origination Year

 

 

 

 

 

 

 

(Dollars in thousands)

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

Commercial and industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

$

15,830

 

 

$

114,291

 

 

$

29,887

 

 

$

25,429

 

 

$

8,217

 

 

$

14,200

 

 

$

138,267

 

 

$

346,121

 

Risk Grades 5 - 6

 

 

26,563

 

 

 

40,399

 

 

 

12,759

 

 

 

6,305

 

 

 

819

 

 

 

1,537

 

 

 

19,722

 

 

 

108,104

 

Risk Grade 7

 

 

 

 

 

877

 

 

 

3,623

 

 

 

829

 

 

 

543

 

 

 

134

 

 

 

9,191

 

 

 

15,197

 

Risk Grade 8

 

 

 

 

 

34,203

 

 

 

2,554

 

 

 

 

 

 

 

 

 

379

 

 

 

 

 

 

37,136

 

Total

 

 

42,393

 

 

 

189,770

 

 

 

48,823

 

 

 

32,563

 

 

 

9,579

 

 

 

16,250

 

 

 

167,180

 

 

 

506,558

 

Current period gross charge-offs

 

 

2,266

 

 

 

21,086

 

 

 

1,067

 

 

 

1,920

 

 

 

1,211

 

 

 

164

 

 

 

125

 

 

 

27,839

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Paycheck Protection Program

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

 

 

 

 

 

 

2,386

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,386

 

Total

 

 

 

 

 

 

 

 

2,386

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,386

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate – construction, commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

8,533

 

 

 

85,687

 

 

 

33,344

 

 

 

14,690

 

 

 

6,358

 

 

 

5,589

 

 

 

4,367

 

 

 

158,568

 

Risk Grades 5 - 6

 

 

4,213

 

 

 

11,072

 

 

 

760

 

 

 

293

 

 

 

 

 

 

738

 

 

 

3,827

 

 

 

20,903

 

Risk Grade 7

 

 

119

 

 

 

46

 

 

 

40

 

 

 

 

 

 

 

 

 

376

 

 

 

 

 

 

581

 

Total

 

 

12,865

 

 

 

96,805

 

 

 

34,144

 

 

 

14,983

 

 

 

6,358

 

 

 

6,703

 

 

 

8,194

 

 

 

180,052

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8

 

 

 

28

 

 

 

 

 

 

36

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate – construction, residential

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

31,611

 

 

 

22,734

 

 

 

3,867

 

 

 

59

 

 

 

741

 

 

 

67

 

 

 

10,656

 

 

 

69,735

 

Risk Grades 5 - 6

 

 

1,486

 

 

 

2,672

 

 

 

 

 

 

167

 

 

 

200

 

 

 

 

 

 

 

 

 

4,525

 

Risk Grade 7

 

 

367

 

 

 

1,205

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,572

 

Total

 

 

33,464

 

 

 

26,611

 

 

 

3,867

 

 

 

226

 

 

 

941

 

 

 

67

 

 

 

10,656

 

 

 

75,832

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate – mortgage, commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

14,671

 

 

 

280,479

 

 

 

121,257

 

 

 

144,498

 

 

 

42,226

 

 

 

123,774

 

 

 

20,332

 

 

 

747,237

 

Risk Grades 5 - 6

 

 

2,841

 

 

 

25,075

 

 

 

9,038

 

 

 

19,597

 

 

 

12,921

 

 

 

27,778

 

 

 

4,214

 

 

 

101,464

 

Risk Grade 7

 

 

323

 

 

 

 

 

 

8,202

 

 

 

4,938

 

 

 

111

 

 

 

8,265

 

 

 

 

 

 

21,839

 

Total

 

 

17,835

 

 

 

305,554

 

 

 

138,497

 

 

 

169,033

 

 

 

55,258

 

 

 

159,817

 

 

 

24,546

 

 

 

870,540

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate – mortgage, residential

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

51,042

 

 

 

218,375

 

 

 

121,872

 

 

 

69,165

 

 

 

27,877

 

 

 

132,986

 

 

 

55,327

 

 

 

676,644

 

Risk Grades 5 - 6

 

 

12,014

 

 

 

9,339

 

 

 

677

 

 

 

1,944

 

 

 

2,122

 

 

 

7,281

 

 

 

3,255

 

 

 

36,632

 

Risk Grade 7

 

 

 

 

 

2,240

 

 

 

2,446

 

 

 

1,812

 

 

 

943

 

 

 

9,307

 

 

 

85

 

 

 

16,833

 

Risk Grade 8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1

 

 

 

 

 

 

1

 

Total

 

 

63,056

 

 

 

229,954

 

 

 

124,995

 

 

 

72,921

 

 

 

30,942

 

 

 

149,575

 

 

 

58,667

 

 

 

730,110

 

Current period gross charge-offs

 

 

 

 

 

744

 

 

 

 

 

 

648

 

 

 

 

 

 

206

 

 

 

32

 

 

 

1,630

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate – mortgage, farmland

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

 

 

 

729

 

 

 

1,397

 

 

 

 

 

 

1,520

 

 

 

1,562

 

 

 

115

 

 

 

5,323

 

Risk Grades 5 - 6

 

 

147

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

147

 

Total

 

 

147

 

 

 

729

 

 

 

1,397

 

 

 

 

 

 

1,520

 

 

 

1,562

 

 

 

115

 

 

 

5,470

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

26,535

 

 

 

14,215

 

 

 

3,598

 

 

 

2,724

 

 

 

1,137

 

 

 

466

 

 

 

8,766

 

 

 

57,441

 

Risk Grades 5 - 6

 

 

61

 

 

 

42

 

 

 

12

 

 

 

12

 

 

 

8

 

 

 

433

 

 

 

495

 

 

 

1,063

 

Risk Grade 7

 

 

14

 

 

 

259

 

 

 

115

 

 

 

131

 

 

 

44

 

 

 

102

 

 

 

 

 

 

665

 

Total

 

 

26,610

 

 

 

14,516

 

 

 

3,725

 

 

 

2,867

 

 

 

1,189

 

 

 

1,001

 

 

 

9,261

 

 

 

59,169

 

Current period gross charge-offs

 

 

1,493

 

 

 

421

 

 

 

218

 

 

 

60

 

 

 

53

 

 

 

65

 

 

 

4

 

 

 

2,314

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

$

148,222

 

 

$

736,510

 

 

$

317,608

 

 

$

256,565

 

 

$

88,076

 

 

$

278,644

 

 

$

237,830

 

 

$

2,063,455

 

Risk Grades 5 - 6

 

 

47,325

 

 

 

88,599

 

 

 

23,246

 

 

 

28,318

 

 

 

16,070

 

 

 

37,767

 

 

 

31,513

 

 

 

272,838

 

Risk Grade 7

 

 

823

 

 

 

4,627

 

 

 

14,426

 

 

 

7,710

 

 

 

1,641

 

 

 

18,184

 

 

 

9,276

 

 

 

56,687

 

Risk Grade 8

 

 

 

 

 

34,203

 

 

 

2,554

 

 

 

 

 

 

 

 

 

380

 

 

 

 

 

 

37,137

 

Total

 

$

196,370

 

 

$

863,939

 

 

$

357,834

 

 

$

292,593

 

 

$

105,787

 

 

$

334,975

 

 

$

278,619

 

 

$

2,430,117

 

Total current period gross charge-offs

 

$

3,759

 

 

$

22,251

 

 

$

1,285

 

 

$

2,628

 

 

$

1,272

 

 

$

463

 

 

$

161

 

 

$

31,819

 

Summary of Change in the ACL by Major Loan Segment

 

 

December 31, 2023

 

(Dollars in thousands)

 

Commercial

 

 

Consumer

 

 

Total

 

Balance, beginning of period

 

$

27,070

 

 

$

3,670

 

 

$

30,740

 

Impact of ASC 326 adoption

 

 

2,926

 

 

 

4,492

 

 

 

7,418

 

Charge-offs

 

 

(27,874

)

 

 

(3,945

)

 

 

(31,819

)

Recoveries

 

 

3,984

 

 

 

867

 

 

 

4,851

 

    Net charge-offs

 

 

(23,890

)

 

 

(3,078

)

 

 

(26,968

)

Provision for credit losses - loans

 

 

21,648

 

 

 

3,055

 

 

 

24,703

 

Balance, end of period

 

$

27,754

 

 

$

8,139

 

 

$

35,893

 

The following table presents an analysis of the change in the allowance for loans losses by loan type as of the dates and for the periods stated.

 

 

 

December 31,

 

(Dollars in thousands)

 

2022

 

 

2021

 

Allowance for loan losses, beginning of period

 

$

12,121

 

 

$

13,827

 

Charge-offs

 

 

 

 

 

 

Commercial and industrial

 

 

(4,779

)

 

 

(1,098

)

Real estate – construction

 

 

(162

)

 

 

(195

)

Real estate – mortgage

 

 

(1,824

)

 

 

(125

)

Consumer

 

 

(1,686

)

 

 

(1,123

)

Total charge-offs

 

 

(8,451

)

 

 

(2,541

)

Recoveries

 

 

 

 

 

 

Commercial and industrial

 

 

442

 

 

 

196

 

Real estate – construction

 

 

40

 

 

 

 

Real estate – mortgage

 

 

409

 

 

 

98

 

Consumer

 

 

492

 

 

 

424

 

Total recoveries

 

 

1,383

 

 

 

718

 

Net charge-offs

 

 

(7,068

)

 

 

(1,823

)

Provision for loan losses

 

 

25,687

 

 

 

117

 

Allowance for loan losses, end of period

 

$

30,740

 

 

$

12,121

 

Summary of Accrued Interest Receivable by Loan Type Reversed from Income

The following table presents accrued interest receivable by loan type reversed from interest income associated with loans held for investment that were placed on nonaccrual status during the year ended December 31, 2023.

 

(Dollars in thousands)

 

December 31, 2023

 

Commercial and industrial

 

$

179

 

Real estate – construction, commercial

 

 

7

 

Real estate – construction, residential

 

 

29

 

Real estate – mortgage, commercial

 

 

300

 

Real estate – mortgage, residential

 

 

80

 

Consumer

 

 

16

 

Total

 

$

611

 

Summary of Amortized Cost of Collateral-Dependent Loans

The following table presents the amortized cost of collateral-dependent loans as of the date stated.

(Dollars in thousands)

 

December 31, 2023

 

Commercial and industrial

 

$

67,555

 

Real estate – construction, commercial

 

 

6,309

 

Real estate – construction, residential

 

 

2,303

 

Real estate – mortgage, commercial

 

 

13,401

 

Real estate – mortgage, residential

 

 

7,337

 

Total collateral-dependent loans

 

$

96,905

 

 

Summary of Modified Loans

The following table presents information on modified loans as of the date stated.

 

 

December 31, 2023

(Dollars in thousands)

 

Number of Loans

 

 

Recorded Investment

 

 

Recorded Investment of Modified Loans to Gross Loans by Category

 

 

Financial Effect

Modification - term extension and forbearance

 

 

 

 

 

 

 

 

 

 

Forbearance agreements

Commercial and industrial (1)

 

 

3

 

 

$

36,930

 

 

 

7.29

%

 

 

Real estate – mortgage, commercial

 

 

2

 

 

 

6,087

 

 

 

0.70

%

 

 

Real estate – mortgage, residential

 

 

1

 

 

 

129

 

 

 

0.02

%

 

 

Real estate – construction, residential

 

 

1

 

 

 

155

 

 

 

0.20

%

 

 

Modification - payment deferral

 

 

 

 

 

 

 

 

 

 

Payment deferral 6-9 months

Commercial and industrial

 

 

1

 

 

 

182

 

 

 

0.04

%

 

 

Real estate - mortgage, residential

 

 

1

 

 

 

577

 

 

 

0.08

%

 

 

Total

 

 

9

 

 

$

44,060

 

 

 

1.81

%

 

 


(1) Included in this balance was a $
32.8 million loan that was modified via a forbearance agreement in the second quarter of 2023 under which the borrower defaulted in the same period. The Company received cash payments of $4.5 million in the first half of 2023 for interest, which were applied to the book principal balance of the loan. This loan is collateral-dependent, is on nonaccrual status, and has a specific reserve of $9.6 million as of December 31, 2023. Subsequent to December 31, 2023, the Company received cash payments totaling $3.0 million, which were applied to the book principal balance of the loan.

The following table presents an aging analysis of the recorded investment of loans modified as of the date stated.

 

 

December 31, 2023

 

(Dollars in thousands)

 

Current
Loans

 

 

30-89
Days
Past Due

 

 

Greater than
90 Days Past
Due &
Accruing

 

 

Nonaccrual

 

 

Total

 

Commercial and industrial

 

$

1,626

 

 

$

 

 

$

 

 

$

35,486

 

 

$

37,112

 

Real estate – mortgage, commercial

 

 

 

 

 

 

 

 

 

 

 

6,087

 

 

 

6,087

 

Real estate – mortgage, residential

 

 

129

 

 

 

 

 

 

 

 

 

577

 

 

 

706

 

Real estate – construction, residential

 

 

155

 

 

 

 

 

 

 

 

 

 

 

 

155

 

Total modified loans

 

$

1,910

 

 

$

 

 

$

 

 

$

42,150

 

 

$

44,060

 

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 sheet as of the date stated.

 

(Dollars in thousands)

 

December 31, 2022

 

PCI loans

 

 

 

Outstanding principal balance

 

$

64,911

 

Recorded investment

 

 

58,748

 

Purchased performing loans

 

 

 

Outstanding principal balance

 

 

513,461

 

Recorded investment

 

 

511,752

 

Total acquired loans

 

 

 

Outstanding principal balance

 

 

578,372

 

Recorded investment

 

 

570,500

 

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 period stated.

 

(Dollars in thousands)

 

December 31, 2022

 

Balance, beginning of period

 

$

16,849

 

Accretion

 

 

(9,410

)

Reclassification of nonaccretable difference due to improvement in expected cash flows

 

 

3,804

 

Other changes, net

 

 

(71

)

Balance, end of period

 

$

11,172

 

 

Summary of Investment of PCI loans

The following table presents the recorded investment of nonaccrual loans held for investment by loan category as of the date stated.

 

 

December 31, 2023

 

(Dollars in thousands)

 

Nonaccrual Loans with No ACL

 

 

Nonaccrual Loans with an ACL

 

 

Total Nonaccrual Loans

 

Commercial and industrial

 

$

1,487

 

 

$

37,942

 

 

$

39,429

 

Real estate – construction, commercial

 

 

 

 

 

383

 

 

 

383

 

Real estate – construction, residential

 

 

 

 

 

 

 

 

 

Real estate – mortgage, commercial

 

 

2,024

 

 

 

9,856

 

 

 

11,880

 

Real estate – mortgage, residential

 

 

577

 

 

 

7,003

 

 

 

7,580

 

Consumer

 

 

 

 

 

754

 

 

 

754

 

Total

 

$

4,088

 

 

$

55,938

 

 

$

60,026

 

The following table presents the aging of the recorded investment of PCI loans as of the date stated.

 

 

 

December 31, 2022

 

(Dollars in thousands)

 

Current
Loans

 

 

30-89
Days
Past Due

 

 

Greater than
90 Days Past
Due &
Accruing

 

 

Total
Loans

 

Commercial and industrial

 

$

 

 

$

 

 

$

1,481

 

 

$

1,481

 

Real estate – construction, commercial

 

 

 

 

 

 

 

 

7

 

 

 

7

 

Real estate – mortgage, commercial

 

 

 

 

 

 

 

 

51,223

 

 

 

51,223

 

Real estate – mortgage, residential

 

 

354

 

 

 

 

 

 

5,324

 

 

 

5,678

 

Consumer

 

 

 

 

 

 

 

 

359

 

 

 

359

 

Total PCI Loans

 

$

354

 

 

$

 

 

$

58,394

 

 

$

58,748

 

Summary of Loan Portfolio Individually and Collectively Evaluated for Impairment

The following table presents a summary of the loan portfolio individually and collectively evaluated for impairment as of the date stated.

 

 

 

December 31, 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

 

$

 

 

$

1,481

 

 

$

1,481

 

 

$

 

Real estate – construction, commercial

 

 

 

 

 

7

 

 

 

7

 

 

 

 

Real estate – mortgage, commercial

 

 

 

 

 

51,223

 

 

 

51,223

 

 

 

3

 

Real estate – mortgage, residential

 

 

 

 

 

5,678

 

 

 

5,678

 

 

 

 

Consumer

 

 

 

 

 

359

 

 

 

359

 

 

 

 

   Total PCI loans

 

 

 

 

 

58,748

 

 

 

58,748

 

 

 

3

 

Originated and purchased performing loans:

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

 

67,654

 

 

 

520,914

 

 

 

588,568

 

 

 

23,073

 

Real estate – construction, commercial

 

 

521

 

 

 

182,773

 

 

 

183,294

 

 

 

1,637

 

Real estate – construction, residential

 

 

 

 

 

76,599

 

 

 

76,599

 

 

 

628

 

Real estate – mortgage, commercial

 

 

4,634

 

 

 

809,132

 

 

 

813,766

 

 

 

2,353

 

Real estate – mortgage, residential

 

 

834

 

 

 

625,260

 

 

 

626,094

 

 

 

1,760

 

Real estate – mortgage, farmland

 

 

 

 

 

6,599

 

 

 

6,599

 

 

 

4

 

Consumer

 

 

 

 

 

47,064

 

 

 

47,064

 

 

 

1,282

 

   Total originated and purchased performing loans

 

 

73,643

 

 

 

2,268,341

 

 

 

2,341,984

 

 

 

30,737

 

Gross loans

 

 

73,643

 

 

 

2,327,089

 

 

 

2,400,732

 

 

 

30,740

 

Less: deferred loan fees, net of costs

 

 

 

 

 

(1,640

)

 

 

(1,640

)

 

 

 

Total

 

$

73,643

 

 

$

2,325,449

 

 

$

2,399,092

 

 

$

30,740

 

Summary of Impaired Financing Receivables

The following table presents information related to impaired loans held for investment by loan type as of date stated.

 

 

December 31, 2022

 

(Dollars in thousands)

Recorded
Investment

 

 

Unpaid
Principal
Balance

 

 

Related
Allowance

 

With no specific allowance recorded:

 

 

 

 

 

 

 

 

Commercial and industrial

$

1,268

 

 

$

1,289

 

 

$

 

Real estate – construction, commercial

 

521

 

 

 

521

 

 

 

 

Real estate – mortgage, commercial

 

4,508

 

 

 

4,504

 

 

 

 

Real estate – mortgage, residential

 

834

 

 

 

834

 

 

 

 

With an allowance recorded:

 

 

 

 

 

 

 

 

Commercial and industrial

$

66,386

 

 

$

66,386

 

 

$

11,605

 

Real estate – mortgage, commercial

 

126

 

 

 

126

 

 

 

1

 

Total

$

73,643

 

 

$

73,660

 

 

$

11,606

 

 

Summary of Accounts Notes Loans and Financing Receivable

The following table presents the amortized cost of loans held for investment by internal loan risk grade as of the date stated.

 

 

 

December 31, 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

 

$

 

 

$

 

 

$

 

 

$

1,369

 

 

$

 

 

$

112

 

 

$

 

 

$

 

 

$

1,481

 

Real estate – construction, commercial

 

 

 

 

 

 

 

 

 

 

 

7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7

 

Real estate – mortgage, commercial

 

 

 

 

 

 

 

 

 

 

 

22,778

 

 

 

26,059

 

 

 

1,700

 

 

 

686

 

 

 

 

 

 

51,223

 

Real estate – mortgage residential

 

 

 

 

 

 

 

 

 

 

 

1,453

 

 

 

1,985

 

 

 

 

 

 

2,240

 

 

 

 

 

 

5,678

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

353

 

 

 

 

 

 

6

 

 

 

 

 

 

359

 

     Total PCI loans

 

 

 

 

 

 

 

 

 

 

 

25,607

 

 

 

28,397

 

 

 

1,812

 

 

 

2,932

 

 

 

 

 

 

58,748

 

Originated and purchased performing loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

 

318

 

 

 

885

 

 

 

192,393

 

 

 

291,204

 

 

 

31,902

 

 

 

2,834

 

 

 

69,032

 

 

 

 

 

 

588,568

 

Paycheck Protection Program

 

 

11,967

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11,967

 

Real estate – construction, commercial

 

 

 

 

 

361

 

 

 

14,223

 

 

 

156,027

 

 

 

8,504

 

 

 

3,365

 

 

 

814

 

 

 

 

 

 

183,294

 

Real estate – construction, residential

 

 

 

 

 

 

 

 

3,110

 

 

 

72,327

 

 

 

1,162

 

 

 

 

 

 

 

 

 

 

 

 

76,599

 

Real estate – mortgage, commercial

 

 

 

 

 

2,330

 

 

 

187,648

 

 

 

561,554

 

 

 

54,352

 

 

 

2,048

 

 

 

5,834

 

 

 

 

 

 

813,766

 

Real estate – mortgage residential

 

 

 

 

 

7,311

 

 

 

233,697

 

 

 

365,511

 

 

 

11,858

 

 

 

 

 

 

7,717

 

 

 

 

 

 

626,094

 

Real estate – mortgage, farmland

 

 

549

 

 

 

 

 

 

1,315

 

 

 

4,609

 

 

 

126

 

 

 

 

 

 

 

 

 

 

 

 

6,599

 

Consumer

 

 

197

 

 

 

0

 

 

 

21,330

 

 

 

24,731

 

 

 

256

 

 

 

 

 

 

550

 

 

 

 

 

 

47,064

 

Total originated and purchased performing loans:

 

 

13,031

 

 

 

10,887

 

 

 

653,716

 

 

 

1,475,963

 

 

 

108,160

 

 

 

8,247

 

 

 

83,947

 

 

 

 

 

 

2,353,951

 

Gross loans

 

$

13,031

 

 

$

10,887

 

 

$

653,716

 

 

$

1,501,570

 

 

$

136,557

 

 

$

10,059

 

 

$

86,879

 

 

$

 

 

$

2,412,699

 

Less: deferred loan fees, net of costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,640

)

     Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

2,411,059