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Loans and ACL (Tables) | 3 Months Ended
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Mar. 31, 2024
Receivables [Abstract] |
Summary of Amortized Cost of Loans Held for Investment | The following table presents the amortized cost of loans held for investment as of the dates stated.
(Dollars in thousands) |  | March 31, 2024 |  |  | December 31, 2023 |
Commercial and industrial |  | $ | 489,972 |  |  | $ | 508,944 |
Real estate – construction, commercial |  |  | 156,943 |  |  |  | 180,052 |
Real estate – construction, residential |  |  | 62,947 |  |  |  | 75,832 |
Real estate – commercial |  |  | 881,798 |  |  |  | 870,540 |
Real estate – residential |  |  | 740,249 |  |  |  | 730,110 |
Real estate – farmland |  |  | 5,673 |  |  |  | 5,470 |
Consumer |  |  | 55,782 |  |  |  | 59,169 |
Gross loans |  |  | 2,393,364 |  |  |  | 2,430,117 |
Deferred loan fees, net of costs |  |  | 725 |  |  |  | 830 |
Total |  | $ | 2,394,089 |  |  | $ | 2,430,947 |
Summary of Financing Receivable, Past Due | The following tables present the aging of the amortized cost of loans held for investment by loan category as of the dates stated.
|  | March 31, 2024 |
(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 |  | $ | 448,156 |  |  | $ | 4,357 |  |  | $ | 1,609 |  |  | $ | 1,904 |  |  | $ | 33,946 |  |  | $ | 489,972 |
Real estate – construction, commercial |  |  | 154,710 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,233 |  |  |  | 156,943 |
Real estate – construction, residential |  |  | 62,947 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 62,947 |
Real estate – commercial |  |  | 872,060 |  |  |  | 2,297 |  |  |  | — |  |  |  | — |  |  |  | 7,441 |  |  |  | 881,798 |
Real estate – residential |  |  | 727,010 |  |  |  | 6,356 |  |  |  | 419 |  |  |  | — |  |  |  | 6,464 |  |  |  | 740,249 |
Real estate – farmland |  |  | 5,673 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,673 |
Consumer |  |  | 47,151 |  |  |  | 6,966 |  |  |  | 470 |  |  |  | 405 |  |  |  | 790 |  |  |  | 55,782 |
Less: Deferred loan fees, net of costs |  |  | 725 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 725 |
Total Loans |  | $ | 2,318,432 |  |  | $ | 19,976 |  |  | $ | 2,498 |  |  | $ | 2,309 |  |  | $ | 50,874 |  |  | $ | 2,394,089 |
|  | 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 |  | $ | 464,939 |  |  | $ | 2,235 |  |  | $ | 632 |  |  | $ | 1,709 |  |  | $ | 39,429 |  |  | $ | 508,944 |
Real estate – construction, commercial |  |  | 177,653 |  |  |  | 2,016 |  |  |  | — |  |  |  | — |  |  |  | 383 |  |  |  | 180,052 |
Real estate – construction, residential |  |  | 75,309 |  |  |  | 523 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 75,832 |
Real estate – commercial |  |  | 855,263 |  |  |  | 2,109 |  |  |  | 714 |  |  |  | 574 |  |  |  | 11,880 |  |  |  | 870,540 |
Real estate – residential |  |  | 717,141 |  |  |  | 5,101 |  |  |  | 288 |  |  |  | — |  |  |  | 7,580 |  |  |  | 730,110 |
Real estate – 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 |
Summary of Investment of PCI loans | The following tables present the amortized cost of nonaccrual loans held for investment with and without an ACL by loan category as of the dates stated.
|  | March 31, 2024 |
(Dollars in thousands) |  | Nonaccrual Loans with No ACL |  |  | Nonaccrual Loans with an ACL |  |  | Total Nonaccrual Loans |
Commercial and industrial |  | $ | — |  |  | $ | 33,946 |  |  | $ | 33,946 |
Real estate – construction, commercial |  |  | 1,863 |  |  |  | 370 |  |  |  | 2,233 |
Real estate – commercial |  |  | — |  |  |  | 7,441 |  |  |  | 7,441 |
Real estate – residential |  |  | 565 |  |  |  | 5,899 |  |  |  | 6,464 |
Consumer |  |  | — |  |  |  | 790 |  |  |  | 790 |
Total |  | $ | 2,428 |  |  | $ | 48,446 |  |  | $ | 50,874 |
|  | 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 – commercial |  |  | 2,024 |  |  |  | 9,856 |  |  |  | 11,880 |
Real estate – residential |  |  | 577 |  |  |  | 7,003 |  |  |  | 7,580 |
Consumer |  |  | — |  |  |  | 754 |  |  |  | 754 |
Total |  | $ | 4,088 |  |  | $ | 55,938 |  |  | $ | 60,026 |
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 for the periods stated.
|  | For the three months ended March 31, |
(Dollars in thousands) |  | 2024 |  |  | 2023 |
Commercial and industrial |  | $ | 57 |  |  | $ | 11 |
Real estate – construction, commercial |  |  | 25 |  |  |  | 1 |
Real estate – commercial |  |  | 51 |  |  |  | 20 |
Real estate – residential |  |  | 10 |  |  |  | 245 |
Consumer |  |  | 5 |  |  |  | 49 |
Total |  | $ | 148 |  |  | $ | 326 |
Summary of Amortized Cost of Loans Held for Investment by Internal Loan Grade by Year of Orgination | The following table presents the amortized cost of loans held for investment by internal loan risk grade by year of origination as of March 31, 2024. Also presented are current period gross charge-offs by loan type for the three months ended March 31, 2024.
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |  |
(Dollars in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Revolving Loans |  |  | Total |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Grades 1 - 4 |  | $ | 2,491 |  |  | $ | 14,949 |  |  | $ | 109,129 |  |  | $ | 25,875 |  |  | $ | 23,954 |  |  | $ | 20,635 |  |  | $ | 136,887 |  |  | $ | 333,920 |
Risk Grades 5 - 6 |  |  | 68 |  |  |  | 27,159 |  |  |  | 37,715 |  |  |  | 13,637 |  |  |  | 6,044 |  |  |  | 2,338 |  |  |  | 20,977 |  |  |  | 107,938 |
Risk Grade 7 |  |  | — |  |  |  | 77 |  |  |  | 324 |  |  |  | 6,135 |  |  |  | 803 |  |  |  | 752 |  |  |  | 7,716 |  |  |  | 15,807 |
Risk Grade 8 |  |  | — |  |  |  | — |  |  |  | 29,750 |  |  |  | 2,557 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 32,307 |
Total |  |  | 2,559 |  |  |  | 42,185 |  |  |  | 176,918 |  |  |  | 48,204 |  |  |  | 30,801 |  |  |  | 23,725 |  |  |  | 165,580 |  |  |  | 489,972 |
Current period gross charge-offs |  |  | — |  |  |  | 447 |  |  |  | 1,364 |  |  |  | 138 |  |  |  | 3 |  |  |  | 5 |  |  |  | — |  |  |  | 1,957 |
Real estate – construction, commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Grades 1 - 4 |  |  | 115 |  |  |  | 9,397 |  |  |  | 85,565 |  |  |  | 17,534 |  |  |  | 13,531 |  |  |  | 7,463 |  |  |  | 1,537 |  |  |  | 135,142 |
Risk Grades 5 - 6 |  |  | — |  |  |  | 1,101 |  |  |  | 5,529 |  |  |  | 1,513 |  |  |  | 194 |  |  |  | 5,684 |  |  |  | 3,632 |  |  |  | 17,653 |
Risk Grade 7 |  |  | — |  |  |  | 118 |  |  |  | 3,630 |  |  |  | 36 |  |  |  | — |  |  |  | 364 |  |  |  | — |  |  |  | 4,148 |
Total |  |  | 115 |  |  |  | 10,616 |  |  |  | 94,724 |  |  |  | 19,083 |  |  |  | 13,725 |  |  |  | 13,511 |  |  |  | 5,169 |  |  |  | 156,943 |
Current period gross charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate – construction, residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Grades 1 - 4 |  |  | 5,952 |  |  |  | 27,017 |  |  |  | 8,063 |  |  |  | 6,740 |  |  |  | 26 |  |  |  | 64 |  |  |  | 10,729 |  |  |  | 58,591 |
Risk Grades 5 - 6 |  |  | — |  |  |  | 2,281 |  |  |  | 1,362 |  |  |  | — |  |  |  | 165 |  |  |  | — |  |  |  | — |  |  |  | 3,808 |
Risk Grade 7 |  |  | — |  |  |  | 393 |  |  |  | 155 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 548 |
Total |  |  | 5,952 |  |  |  | 29,691 |  |  |  | 9,580 |  |  |  | 6,740 |  |  |  | 191 |  |  |  | 64 |  |  |  | 10,729 |  |  |  | 62,947 |
Current period gross charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate – commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Grades 1 - 4 |  |  | 5,053 |  |  |  | 18,197 |  |  |  | 269,429 |  |  |  | 122,861 |  |  |  | 147,005 |  |  |  | 168,496 |  |  |  | 21,967 |  |  |  | 753,011 |
Risk Grades 5 - 6 |  |  | — |  |  |  | 452 |  |  |  | 43,469 |  |  |  | 15,779 |  |  |  | 17,641 |  |  |  | 33,312 |  |  |  | 4,214 |  |  |  | 114,867 |
Risk Grade 7 |  |  | — |  |  |  | — |  |  |  | 1,104 |  |  |  | 6,977 |  |  |  | 3,835 |  |  |  | 2,007 |  |  |  | — |  |  |  | 13,923 |
Total |  |  | 5,053 |  |  |  | 18,649 |  |  |  | 314,002 |  |  |  | 145,617 |  |  |  | 168,481 |  |  |  | 203,815 |  |  |  | 26,181 |  |  |  | 881,798 |
Current period gross charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate – residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Grades 1 - 4 |  |  | 145 |  |  |  | 52,894 |  |  |  | 230,577 |  |  |  | 118,789 |  |  |  | 68,096 |  |  |  | 157,871 |  |  |  | 55,377 |  |  |  | 683,749 |
Risk Grades 5 - 6 |  |  | 229 |  |  |  | 12,509 |  |  |  | 10,066 |  |  |  | 3,659 |  |  |  | 2,278 |  |  |  | 13,796 |  |  |  | 3,341 |  |  |  | 45,878 |
Risk Grade 7 |  |  | — |  |  |  | — |  |  |  | 2,160 |  |  |  | 1,266 |  |  |  | 1,455 |  |  |  | 5,465 |  |  |  | 276 |  |  |  | 10,622 |
Total |  |  | 374 |  |  |  | 65,403 |  |  |  | 242,803 |  |  |  | 123,714 |  |  |  | 71,829 |  |  |  | 177,132 |  |  |  | 58,994 |  |  |  | 740,249 |
Current period gross charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  | — |  |  |  | — |
Real estate – farmland |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Grades 1 - 4 |  |  | — |  |  |  | — |  |  |  | 1,004 |  |  |  | 1,383 |  |  |  | — |  |  |  | 2,956 |  |  |  | 186 |  |  |  | 5,529 |
Risk Grades 5 - 6 |  |  | — |  |  |  | 144 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 144 |
Total |  |  | — |  |  |  | 144 |  |  |  | 1,004 |  |  |  | 1,383 |  |  |  | — |  |  |  | 2,956 |  |  |  | 186 |  |  |  | 5,673 |
Current period gross charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Grades 1 - 4 |  |  | 3,566 |  |  |  | 23,334 |  |  |  | 12,661 |  |  |  | 3,001 |  |  |  | 2,303 |  |  |  | 1,179 |  |  |  | 8,098 |  |  |  | 54,142 |
Risk Grades 5 - 6 |  |  | — |  |  |  | 58 |  |  |  | 40 |  |  |  | 8 |  |  |  | 6 |  |  |  | 60 |  |  |  | 495 |  |  |  | 667 |
Risk Grade 7 |  |  | — |  |  |  | 195 |  |  |  | 377 |  |  |  | 193 |  |  |  | 123 |  |  |  | 85 |  |  |  | — |  |  |  | 973 |
Total |  |  | 3,566 |  |  |  | 23,587 |  |  |  | 13,078 |  |  |  | 3,202 |  |  |  | 2,432 |  |  |  | 1,324 |  |  |  | 8,593 |  |  |  | 55,782 |
Current period gross charge-offs |  |  | 523 |  |  |  | 75 |  |  |  | 119 |  |  |  | 10 |  |  |  | 16 |  |  |  | 2 |  |  |  | — |  |  |  | 745 |
Total Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Grades 1 - 4 |  | $ | 17,322 |  |  | $ | 145,788 |  |  | $ | 716,428 |  |  | $ | 296,183 |  |  | $ | 254,915 |  |  | $ | 358,664 |  |  | $ | 234,781 |  |  | $ | 2,024,081 |
Risk Grades 5 - 6 |  |  | 297 |  |  |  | 43,704 |  |  |  | 98,181 |  |  |  | 34,596 |  |  |  | 26,328 |  |  |  | 55,190 |  |  |  | 32,659 |  |  |  | 290,955 |
Risk Grade 7 |  |  | — |  |  |  | 783 |  |  |  | 7,750 |  |  |  | 14,607 |  |  |  | 6,216 |  |  |  | 8,673 |  |  |  | 7,992 |  |  |  | 46,021 |
Risk Grade 8 |  |  | — |  |  |  | — |  |  |  | 29,750 |  |  |  | 2,557 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 32,307 |
Total |  | $ | 17,619 |  |  | $ | 190,275 |  |  | $ | 852,109 |  |  | $ | 347,943 |  |  | $ | 287,459 |  |  | $ | 422,527 |  |  | $ | 275,432 |  |  | $ | 2,393,364 |
Total current period gross charge-offs |  | $ | 523 |  |  | $ | 522 |  |  | $ | 1,483 |  |  | $ | 148 |  |  | $ | 19 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 2,702 |
The following table presents the amortized cost of loans held for investment by internal loan risk grade by year of origination as of 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 |  |  | $ | 32,273 |  |  | $ | 25,429 |  |  | $ | 8,217 |  |  | $ | 14,200 |  |  | $ | 138,267 |  |  | $ | 348,507 |
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 |  |  |  | 51,209 |  |  |  | 32,563 |  |  |  | 9,579 |  |  |  | 16,250 |  |  |  | 167,180 |  |  |  | 508,944 |
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 |
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 – 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 – 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 |
Real estate – 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 |
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 |
Summary of Change in the ACL by Major Loan Segment |
|  | For the three months ended March 31, 2024 |
(Dollars in thousands) |  | Commercial |  |  | Consumer |  |  | Total |
Balance, beginning of period |  | $ | 27,491 |  |  | $ | 8,402 |  |  | $ | 35,893 |
Charge-offs |  |  | (1,957 | ) |  |  | (745 | ) |  |  | (2,702 | )
Recoveries |  |  | 1,531 |  |  |  | 303 |  |  |  | 1,834 |
Net charge-offs |  |  | (426 | ) |  |  | (442 | ) |  |  | (868 | )
Balance, end of period |  | $ | 27,065 |  |  | $ | 7,960 |  |  | $ | 35,025 |
|  | For the three months ended March 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 |  |  | (799 | ) |  |  | (510 | ) |  |  | (1,309 | )
Recoveries |  |  | 118 |  |  |  | 104 |  |  |  | 222 |
Net charge-offs |  |  | (681 | ) |  |  | (406 | ) |  |  | (1,087 | )
(Recovery of) provision for credit losses - loans |  |  | (2,049 | ) |  |  | 939 |  |  |  | (1,110 | )
Balance, end of period |  | $ | 27,266 |  |  | $ | 8,695 |  |  | $ | 35,961 |
Summary of Amortized Cost of Collateral-Dependent Loans | The following table presents the amortized cost of collateral-dependent loans as of the dates stated.
(Dollars in thousands) |  | March 31, 2024 |  |  | December 31, 2023 |
Commercial and industrial |  | $ | 62,905 |  |  | $ | 67,555 |
Real estate – construction, commercial |  |  | 5,719 |  |  |  | 6,309 |
Real estate – construction, residential |  |  | — |  |  |  | 2,303 |
Real estate – commercial |  |  | 14,285 |  |  |  | 13,401 |
Real estate – residential |  |  | 8,690 |  |  |  | 7,337 |
Total collateral-dependent loans |  | $ | 91,599 |  |  | $ | 96,905 |
Summary of Modified Loans | The following table presents information on loans modified in the last 12 months from the date stated.
|  | March 31, 2024
(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 |  |  | $ | 33,979 |  |  |  | 6.93 | % |  |
Real estate – construction, residential |  |  | 1 |  |  |  | 155 |  |  |  | 0.02 | % |  |
Real estate – residential |  |  | 1 |  |  |  | 127 |  |  |  | 0.02 | % |  |
Modification - payment deferral |  |  |  |  |  |  |  |  |  |  | Payment deferral 6-9 months
Real estate – residential |  |  | 1 |  |  |  | 565 |  |  |  | 0.06 | % |  |
Commercial and industrial |  |  | 1 |  |  |  | 183 |  |  |  | 0.04 | % |  |
Total |  |  | 7 |  |  | $ | 35,009 |  |  |  | 1.46 | % |  |
(1) Included in this balance was a $29.8 million loan that was modified via a forbearance agreement in the second quarter of 2023 under which the borrower defaulted in the same period. This loan is collateral-dependent, is on nonaccrual status, and has a specific reserve of $9.6 million as of March 31, 2024. Subsequent to March 31, 2024, the Company received cash payments totaling $1.5 million, which were applied to the book principal balance of the loan.
Summary of Aging Analysis of Loans Modified | The following table presents an aging analysis of the recorded investment of loans modified as of the date stated.
|  | March 31, 2024 |
(Dollars in thousands) |  | Current Loans |  |  | 30-89 Days Past Due |  |  | Greater than 90 Days Past Due & Accruing |  |  | Nonaccrual |  |  | Total |
Commercial and industrial |  | $ | 1,681 |  |  | $ | — |  |  | $ | — |  |  | $ | 32,481 |  |  | $ | 34,162 |
Real estate – residential |  |  | 127 |  |  |  | — |  |  |  | — |  |  |  | 565 |  |  |  | 692 |
Real estate – construction, residential |  |  | 155 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 155 |
Total modified loans |  | $ | 1,963 |  |  | $ | — |  |  | $ | — |  |  | $ | 33,046 |  |  | $ | 35,009 |

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