XML 50 R38.htm IDEA: XBRL DOCUMENT v3.25.0.1
Loans and Allowance for Credit Losses (Tables)
12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Summary of Loans Held for Investment

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

 

 

 

December 31,

 

(Dollars in thousands)

 

2024

 

 

2023

 

Commercial and industrial

 

$

354,904

 

 

$

508,944

 

Real estate – construction, commercial

 

 

114,491

 

 

 

180,052

 

Real estate – construction, residential

 

 

51,807

 

 

 

75,832

 

Real estate – commercial

 

 

847,842

 

 

 

870,540

 

Real estate – residential

 

 

692,253

 

 

 

730,110

 

Real estate – farmland

 

 

5,520

 

 

 

5,470

 

Consumer

 

 

43,938

 

 

 

59,169

 

Gross loans held for investment

 

 

2,110,755

 

 

 

2,430,117

 

Deferred costs, net of loan fees

 

 

1,042

 

 

 

830

 

Total

 

$

2,111,797

 

 

$

2,430,947

 

Summary of Financing Receivable, Past Due

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

 

 

 

December 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

 

$

339,893

 

 

$

1,335

 

 

$

1,232

 

 

$

2,259

 

 

$

10,185

 

 

$

354,904

 

Real estate – construction, commercial

 

 

114,238

 

 

 

 

 

 

33

 

 

 

 

 

 

220

 

 

 

114,491

 

Real estate – construction, residential

 

 

51,807

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

51,807

 

Real estate – commercial

 

 

842,982

 

 

 

625

 

 

 

 

 

 

 

 

 

4,235

 

 

 

847,842

 

Real estate – residential

 

 

680,406

 

 

 

3,874

 

 

 

476

 

 

 

 

 

 

7,497

 

 

 

692,253

 

Real estate – farmland

 

 

5,520

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,520

 

Consumer

 

 

41,295

 

 

 

1,296

 

 

 

300

 

 

 

227

 

 

 

820

 

 

 

43,938

 

Deferred costs, net of loan fees

 

 

1,042

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,042

 

Total

 

$

2,077,183

 

 

$

7,130

 

 

$

2,041

 

 

$

2,486

 

 

$

22,957

 

 

$

2,111,797

 

 

 

 

 

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 costs, net of loan fees

 

 

830

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

830

 

Total

 

$

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 recorded investment of nonaccrual loans held for investment with and without an ACL by loan category as of the dates stated.

 

 

December 31, 2024

 

(Dollars in thousands)

 

Nonaccrual Loans with No ACL

 

 

Nonaccrual Loans with an ACL

 

 

Total Nonaccrual Loans

 

Commercial and industrial

 

$

778

 

 

$

9,407

 

 

$

10,185

 

Real estate – construction, commercial

 

 

 

 

 

220

 

 

 

220

 

Real estate – commercial

 

 

 

 

 

4,235

 

 

 

4,235

 

Real estate – residential

 

 

1,669

 

 

 

5,828

 

 

 

7,497

 

Consumer

 

 

 

 

 

820

 

 

 

820

 

Total

 

$

2,447

 

 

$

20,510

 

 

$

22,957

 

 

 

 

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 twelve months ended December 31,

 

(Dollars in thousands)

 

2024

 

 

2023

 

Commercial and industrial

 

$

417

 

 

$

179

 

Real estate – construction, commercial

 

 

60

 

 

 

7

 

Real estate – construction, residential

 

 

 

 

 

29

 

Real estate – commercial

 

 

176

 

 

 

300

 

Real estate – residential

 

 

93

 

 

 

80

 

Consumer

 

 

23

 

 

 

16

 

Total

 

$

769

 

 

$

611

 

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, 2024. There were no loans classified as loss (risk grade 9) as of the same date. Also presented are gross charge-offs by loan type and origination year for the year ended December 31, 2024.

 

 

Term Loans Recorded Investment Basis by Origination Year

 

 

 

 

 

 

 

(Dollars in thousands)

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

Commercial and industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

$

13,883

 

 

$

13,559

 

 

$

64,530

 

 

$

14,600

 

 

$

17,405

 

 

$

15,760

 

 

$

98,867

 

 

$

238,604

 

Risk Grades 5 - 6

 

 

672

 

 

 

24,430

 

 

 

37,503

 

 

 

10,201

 

 

 

5,183

 

 

 

979

 

 

 

15,092

 

 

 

94,060

 

Risk Grade 7

 

 

944

 

 

 

2,248

 

 

 

5,173

 

 

 

10,462

 

 

 

562

 

 

 

1,247

 

 

 

1,521

 

 

 

22,157

 

Risk Grade 8

 

 

 

 

 

 

 

 

 

 

 

82

 

 

 

 

 

 

1

 

 

 

 

 

 

83

 

Total

 

 

15,499

 

 

 

40,237

 

 

 

107,206

 

 

 

35,345

 

 

 

23,150

 

 

 

17,987

 

 

 

115,480

 

 

 

354,904

 

Current period gross charge-offs

 

 

73

 

 

 

475

 

 

 

19,008

 

 

 

2,667

 

 

 

1,015

 

 

 

171

 

 

 

596

 

 

 

24,005

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate – construction, commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

6,219

 

 

 

6,277

 

 

 

65,560

 

 

 

7,776

 

 

 

5,405

 

 

 

4,792

 

 

 

399

 

 

 

96,428

 

Risk Grades 5 - 6

 

 

 

 

 

1,090

 

 

 

 

 

 

7,567

 

 

 

4,770

 

 

 

4,235

 

 

 

 

 

 

17,662

 

Risk Grade 7

 

 

 

 

 

116

 

 

 

 

 

 

24

 

 

 

 

 

 

261

 

 

 

 

 

 

401

 

Total

 

 

6,219

 

 

 

7,483

 

 

 

65,560

 

 

 

15,367

 

 

 

10,175

 

 

 

9,288

 

 

 

399

 

 

 

114,491

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate – construction, residential

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

19,574

 

 

 

8,861

 

 

 

7,837

 

 

 

13,971

 

 

 

 

 

 

57

 

 

 

990

 

 

 

51,290

 

Risk Grades 5 - 6

 

 

193

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

193

 

Risk Grade 7

 

 

 

 

 

169

 

 

 

155

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

324

 

Total

 

 

19,767

 

 

 

9,030

 

 

 

7,992

 

 

 

13,971

 

 

 

 

 

 

57

 

 

 

990

 

 

 

51,807

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

39

 

 

 

 

 

 

39

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate – commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

4,747

 

 

 

34,698

 

 

 

245,563

 

 

 

118,435

 

 

 

142,211

 

 

 

133,856

 

 

 

21,323

 

 

 

700,833

 

Risk Grades 5 - 6

 

 

535

 

 

 

5,092

 

 

 

64,677

 

 

 

7,002

 

 

 

14,604

 

 

 

23,104

 

 

 

4,184

 

 

 

119,198

 

Risk Grade 7

 

 

1,565

 

 

 

 

 

 

9,970

 

 

 

10,380

 

 

 

2,945

 

 

 

1,355

 

 

 

25

 

 

 

26,240

 

Risk Grade 8

 

 

 

 

 

 

 

 

 

 

 

1,379

 

 

 

 

 

 

192

 

 

 

 

 

 

1,571

 

Total

 

 

6,847

 

 

 

39,790

 

 

 

320,210

 

 

 

137,196

 

 

 

159,760

 

 

 

158,507

 

 

 

25,532

 

 

 

847,842

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

1,106

 

 

 

 

 

 

72

 

 

 

60

 

 

 

 

 

 

1,238

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate – residential

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

2,815

 

 

 

66,780

 

 

 

225,159

 

 

 

114,682

 

 

 

64,548

 

 

 

143,002

 

 

 

53,498

 

 

 

670,484

 

Risk Grades 5 - 6

 

 

853

 

 

 

 

 

 

2,303

 

 

 

1,295

 

 

 

318

 

 

 

2,378

 

 

 

95

 

 

 

7,242

 

Risk Grade 7

 

 

 

 

 

736

 

 

 

2,153

 

 

 

2,113

 

 

 

1,454

 

 

 

5,822

 

 

 

2,249

 

 

 

14,527

 

Total

 

 

3,668

 

 

 

67,516

 

 

 

229,615

 

 

 

118,090

 

 

 

66,320

 

 

 

151,202

 

 

 

55,842

 

 

 

692,253

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

111

 

 

 

 

 

 

103

 

 

 

2

 

 

 

216

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate – farmland

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

147

 

 

 

 

 

 

997

 

 

 

1,239

 

 

 

 

 

 

2,753

 

 

 

149

 

 

 

5,285

 

Risk Grades 5 - 6

 

 

 

 

 

135

 

 

 

 

 

 

100

 

 

 

 

 

 

 

 

 

 

 

 

235

 

Total

 

 

147

 

 

 

135

 

 

 

997

 

 

 

1,339

 

 

 

 

 

 

2,753

 

 

 

149

 

 

 

5,520

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

 

5,944

 

 

 

17,211

 

 

 

8,716

 

 

 

1,650

 

 

 

1,034

 

 

 

486

 

 

 

7,283

 

 

 

42,324

 

Risk Grades 5 - 6

 

 

74

 

 

 

133

 

 

 

225

 

 

 

99

 

 

 

32

 

 

 

3

 

 

 

 

 

 

566

 

Risk Grade 7

 

 

87

 

 

 

330

 

 

 

332

 

 

 

184

 

 

 

63

 

 

 

24

 

 

 

28

 

 

 

1,048

 

Total

 

 

6,105

 

 

 

17,674

 

 

 

9,273

 

 

 

1,933

 

 

 

1,129

 

 

 

513

 

 

 

7,311

 

 

 

43,938

 

Current period gross charge-offs

 

 

720

 

 

 

672

 

 

 

1,374

 

 

 

91

 

 

 

37

 

 

 

45

 

 

 

 

 

 

2,939

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Grades 1 - 4

 

$

53,329

 

 

$

147,386

 

 

$

618,362

 

 

$

272,353

 

 

$

230,603

 

 

$

300,706

 

 

$

182,509

 

 

$

1,805,248

 

Risk Grades 5 - 6

 

 

2,327

 

 

 

30,880

 

 

 

104,708

 

 

 

26,264

 

 

 

24,907

 

 

 

30,699

 

 

 

19,371

 

 

 

239,156

 

Risk Grade 7

 

 

2,596

 

 

 

3,599

 

 

 

17,783

 

 

 

23,163

 

 

 

5,024

 

 

 

8,709

 

 

 

3,823

 

 

 

64,697

 

Risk Grade 8

 

 

 

 

 

 

 

 

 

 

 

1,461

 

 

 

 

 

 

193

 

 

 

 

 

 

1,654

 

Total

 

$

58,252

 

 

$

181,865

 

 

$

740,853

 

 

$

323,241

 

 

$

260,534

 

 

$

340,307

 

 

$

205,703

 

 

$

2,110,755

 

Total current period gross charge-offs

 

$

793

 

 

$

1,147

 

 

$

21,488

 

 

$

2,869

 

 

$

1,124

 

 

$

418

 

 

$

598

 

 

$

28,437

 

 

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. There were no loans classified as loss (risk grade 9) as of the same date.

 

 

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 Loan Segment

The following table presents an analysis of the change in the ACL by loan segment for the periods stated.

 

 

For the year ended December 31, 2024

 

(Dollars in thousands)

 

Commercial and industrial

 

 

Real estate – construction, commercial

 

 

Real estate – construction, residential

 

 

Real estate – commercial

 

 

Real estate – residential

 

 

Real estate – farmland

 

 

Consumer

 

 

Total

 

ACL, beginning of period

 

$

13,787

 

 

$

4,024

 

 

$

1,094

 

 

$

9,929

 

 

$

6,286

 

 

$

15

 

 

$

758

 

 

$

35,893

 

(Recovery of) provision for credit losses - loans

 

 

(1,363

)

 

 

(1,982

)

 

 

(515

)

 

 

(2,798

)

 

 

1,734

 

 

 

3

 

 

 

2,021

 

 

 

(2,900

)

Charge-offs

 

 

(24,005

)

 

 

 

 

 

(39

)

 

 

(1,238

)

 

 

(216

)

 

 

 

 

 

(2,939

)

 

 

(28,437

)

Recoveries

 

 

17,348

 

 

 

15

 

 

 

 

 

 

70

 

 

 

129

 

 

 

 

 

 

905

 

 

 

18,467

 

Net (charge-offs) recoveries

 

 

(6,657

)

 

 

15

 

 

 

(39

)

 

 

(1,168

)

 

 

(87

)

 

 

 

 

 

(2,034

)

 

 

(9,970

)

ACL, end of period

 

$

5,767

 

 

$

2,057

 

 

$

540

 

 

$

5,963

 

 

$

7,933

 

 

$

18

 

 

$

745

 

 

$

23,023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2023

 

(Dollars in thousands)

 

Commercial and industrial

 

 

Real estate – construction, commercial

 

 

Real estate – construction, residential

 

 

Real estate – commercial

 

 

Real estate – residential

 

 

Real estate – farmland

 

 

Consumer

 

 

Total

 

ACL, beginning of period

 

$

23,073

 

 

$

1,637

 

 

$

628

 

 

$

2,356

 

 

$

1,760

 

 

$

4

 

 

$

1,282

 

 

$

30,740

 

Impact of ASC 326 Adoption

 

 

(4,424

)

 

 

2,356

 

 

 

779

 

 

 

5,870

 

 

 

2,840

 

 

 

10

 

 

 

(13

)

 

 

7,418

 

Provision for (recovery of) credit losses - loans

 

 

19,300

 

 

 

21

 

 

 

(445

)

 

 

1,440

 

 

 

3,139

 

 

 

1

 

 

 

1,247

 

 

 

24,703

 

Charge-offs

 

 

(27,837

)

 

 

(36

)

 

 

 

 

 

 

 

 

(1,631

)

 

 

 

 

 

(2,315

)

 

 

(31,819

)

Recoveries

 

 

3,675

 

 

 

46

 

 

 

132

 

 

 

263

 

 

 

178

 

 

 

 

 

 

557

 

 

 

4,851

 

Net (charge-offs) recoveries

 

 

(24,162

)

 

 

10

 

 

 

132

 

 

 

263

 

 

 

(1,453

)

 

 

 

 

 

(1,758

)

 

 

(26,968

)

ACL, end of period

 

$

13,787

 

 

$

4,024

 

 

$

1,094

 

 

$

9,929

 

 

$

6,286

 

 

$

15

 

 

$

758

 

 

$

35,893

 

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)

 

December 31, 2024

 

 

December 31, 2023

 

Commercial and industrial

 

$

42,723

 

 

$

67,555

 

Real estate – construction, commercial

 

 

116

 

 

 

6,309

 

Real estate – construction, residential

 

 

 

 

 

2,303

 

Real estate – commercial

 

 

26,994

 

 

 

13,401

 

Real estate – residential

 

 

9,586

 

 

 

7,337

 

Total collateral-dependent loans

 

$

79,419

 

 

$

96,905

 

Summary of Aging Analysis of Amortized Cost of TLMs

The following tables present an aging analysis of the amortized cost of TLMs as of the dates stated.

 

 

December 31, 2024

 

(Dollars in thousands)

 

Current
Loans

 

 

30-89
Days
Past Due

 

 

Greater than
90 Days Past
Due &
Accruing

 

 

Nonaccrual

 

 

Total

 

Commercial and industrial

 

$

554

 

 

$

 

 

$

 

 

$

2,745

 

 

$

3,299

 

Real estate – construction, residential

 

 

155

 

 

 

 

 

 

 

 

 

 

 

 

155

 

Real estate – commercial

 

 

1,773

 

 

 

 

 

 

 

 

 

2,999

 

 

 

4,772

 

Real estate – residential

 

 

194

 

 

 

 

 

 

 

 

 

500

 

 

 

694

 

Consumer loans

 

 

 

 

 

 

 

 

 

 

 

10

 

 

 

10

 

Total modified loans

 

$

2,676

 

 

$

 

 

$

 

 

$

6,254

 

 

$

8,930

 

 

 

 

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 – construction, residential

 

 

155

 

 

 

 

 

 

 

 

 

 

 

 

155

 

Real estate – commercial

 

 

 

 

 

 

 

 

 

 

 

6,087

 

 

 

6,087

 

Real estate – residential

 

 

129

 

 

 

 

 

 

 

 

 

577

 

 

 

706

 

Total modified loans

 

$

1,910

 

 

$

 

 

$

 

 

$

42,150

 

 

$

44,060

 

 

Summary of Amortized Cost of TLMs

The following table presents the amortized cost of TLMs, categorized by loan type and type of concession granted, for the periods stated.

 

 

For the twelve months ended December 31,

 

 

 

2024

 

 

2023

 

(Dollars in thousands)

 

Recorded Investment

 

 

% of Recorded Investment to Gross Loans by Category

 

 

Recorded Investment

 

 

% of Recorded Investment to Gross Loans by Category

 

Term extension and forbearance

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

330

 

 

 

0.09

%

 

$

36,930

 

(1)

 

7.29

%

Real estate – construction, residential

 

 

 

 

 

 

 

 

155

 

 

 

0.20

%

Real estate – commercial

 

 

1,773

 

 

 

0.21

%

 

 

6,087

 

 

 

0.70

%

Real estate – residential

 

 

71

 

 

 

0.01

%

 

 

129

 

 

 

0.02

%

  Total term extension and forbearance

 

$

2,174

 

 

 

 

 

$

43,301

 

 

 

 

Payment deferral 3-9 months

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

836

 

 

 

0.24

%

 

$

182

 

 

 

0.04

%

Real estate – residential

 

 

500

 

 

 

0.07

%

 

 

577

 

 

 

0.08

%

Consumer loans

 

 

10

 

 

 

0.02

%

 

 

 

 

 

 

Total payment deferral

 

$

1,346

 

 

 

 

 

$

759

 

 

 

 

Total

 

$

3,520

 

 

 

 

 

$

44,060

 

 

 

 

 

 

(1) A $32.8 million specialty finance loan was modified via a forbearance agreement in the second quarter of 2023 under which the borrower defaulted in the same period. This loan was sold in the second quarter of 2024.

 

The following table presents the amortized cost of TLMs that were modified in the preceding twelve months and had a payment default during the periods stated.

 

 

 

For the twelve months ended December 31,

 

 

 

2024

 

 

2023

 

(Dollars in thousands)

 

Amortized Cost

 

 

% of Amortized Cost to Gross Loans by Category

 

 

Amortized Cost

 

 

% of Amortized Cost to Gross Loans by Category

 

Term extension and forbearance

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

330

 

 

 

0.09

%

 

$

32,750

 

 

 

6.43

%

Real estate – residential

 

 

71

 

 

 

0.01

%

 

 

 

 

 

 

Total term extension and forbearance

 

$

401

 

 

 

 

 

$

32,750

 

 

 

 

Payment deferral 6-9 months

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

 

$

347

 

 

 

0.10

%

 

$

183

 

 

 

0.04

%

Real estate – residential

 

 

 

 

 

 

 

 

577

 

 

 

0.08

%

Total payment deferral

 

$

347

 

 

 

 

 

$

760

 

 

 

 

Total

 

$

748

 

 

 

 

 

$

33,510