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Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Components of Loans in the Consolidated Balance Sheet

The following table presents the components of loans as of the periods shown:

(Dollars in thousands)						June 30, 2022						December 31, 2021
Commercial:
Business						830,180						818,986
Real estate						697,636						561,718
Acquisition, development and construction						112,256						99,823
Total commercial						$	1,640,072					$	1,480,527
Residential real estate						440,561						306,140
Home equity						20,190						22,186
Consumer						107,885						43,919
Total loans, excluding PCI						2,208,708						1,852,772
Purchased credit impaired loans:
Commercial:
Business						3,180						2,629
Real estate						—						11,018
Acquisition, development and construction						—						257
Total commercial						$	3,180					$	13,904
Residential real estate						2,602						4,358
Consumer						—						413
Total purchased credit impaired loans						5,782						18,675
Total Loans						$	2,214,490					$	1,871,447
Deferred loan origination costs and (fees), net						624						(1,609)
Loans receivable						$	2,215,114					$	1,869,838

Impaired Loans by Class

The following table presents impaired loans by class, excluding PCI loans, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary as of the periods shown:

						Impaired Loans with Specific Allowance												Impaired Loans with No Specific Allowance						Total Impaired Loans
(Dollars in thousands)						Recorded Investment						Related Allowance						Recorded Investment						Recorded Investment						Unpaid Principal Balance
June 30, 2022
Commercial
Business						$	3,197					$	1,076					$	8,756					$	11,953					$	13,882
Real estate						654						223						528						1,182						1,303
Acquisition, development and construction						—						—						1,069						1,069						2,484
Total commercial						3,851						1,299						10,353						14,204						17,669
Residential						1,212						84						7,195						8,407						8,419
Home equity						—						—						198						198						203
Consumer						829						212						2						831						831
Total impaired loans						$	5,892					$	1,595					$	17,748					$	23,640					$	27,122
December 31, 2021
Commercial
Business						$	2,401					$	232					$	8,796					$	11,197					$	13,010
Real estate						668						243						543						1,211						1,329
Acquisition, development and construction						—						—						1,392						1,392						2,807
Total commercial						3,069						475						10,731						13,800						17,146
Residential						—						—						8,179						8,179						8,219
Home equity						—						—						217						217						221
Consumer						—						—						259						259						259
Total impaired loans						$	3,069					$	475					$	19,386					$	22,455					$	25,845

The following table presents the carrying amount of the PCI loan portfolio for the periods shown:

(Dollars in thousands)						June 30, 2022						December 31, 2021
Commercial
Business						3,180						2,629
Real estate						—						11,018
Acquisition, development and construction						—						257
Total commercial						$	3,180					$	13,904
Residential						2,602						4,358
Consumer						—						413
Outstanding balance						$	5,782					$	18,675
Carrying amount, net of allowance						$	5,782					$	18,012

Average Recorded Investment in Impaired Loans and Related Interest Income Recognized

The following table presents the average recorded investment in impaired loans, excluding PCI loans, and related interest income recognized for the periods shown:

						Three Months Ended June 30,
						2022																		2021
(Dollars in thousands)						Average Investment in Impaired Loans						Interest Income Recognized on Accrual Basis						Interest Income Recognized on Cash Basis						Average Investment in Impaired Loans						Interest Income Recognized on Accrual Basis						Interest Income Recognized on Cash Basis
Commercial
Business						$	11,015					$	—					$	—					$	6,361					$	—					$	—
Real estate						1,597						16						15						2,154						11						12
Acquisition, development and construction						306						—						—						347						—						—
Total commercial						12,918						16						15						8,862						11						12
Residential						8,374						5						4						7,282						3						3
Home equity						159						—						—						69						—						—
Consumer						754						—						—						3						—						—
Total						$	22,205					$	21					$	19					$	16,216					$	14					$	15
						Six Months Ended June 30,
						2022																		2021
(Dollars in thousands)						Average Investment in Impaired Loans						Interest Income Recognized on Accrual Basis						Interest Income Recognized on Cash Basis						Average Investment in Impaired Loans						Interest Income Recognized on Accrual Basis						Interest Income Recognized on Cash Basis
Commercial
Business						$	10,741					$	—					$	—					$	6,641					$	—					$	—
Real estate						1,681						33						33						2,216						22						21
Acquisition, development and construction						314						—						—						352						—						—
Total commercial						12,736						33						33						9,209						22						21
Residential						8,372						10						9						4,613						8						7
Home equity						174						—						—						69						—						—
Consumer						593						—						—						3						—						—
Total						$	21,875					$	43					$	42					$	13,894					$	30					$	28

Classes of the Loan Portfolio Summarized by the Aggregate Pass and the Criticized Categories

The following table represents the classes of the loan portfolio, excluding PCI loans, summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system as of the periods shown:

(Dollars in thousands)						Pass						Special Mention						Substandard						Doubtful						Total
June 30, 2022
Commercial
Business						$	803,435					$	6,912					$	19,568					$	265					$	830,180
Real estate						657,419						11,733						28,410						74						697,636
Acquisition, development and construction						105,452						4,595						1,428						781						112,256
Total commercial						1,566,306						23,240						49,406						1,120						1,640,072
Residential						430,273						784						7,532						1,972						440,561
Home equity						19,615						377						158						40						20,190
Consumer						107,054						—						831						—						107,885
Total loans						$	2,123,248					$	24,401					$	57,927					$	3,132					$	2,208,708
December 31, 2021
Commercial
Business						$	789,413					$	11,964					$	17,581					$	28					$	818,986
Real estate						520,446						12,065						29,134						73						561,718
Acquisition, development and construction						89,768						4,960						4,031						1,064						99,823
Total commercial						1,399,627						28,989						50,746						1,165						1,480,527
Residential						294,933						899						9,815						493						306,140
Home equity						21,582						387						191						26						22,186
Consumer						43,645						15						259						—						43,919
Total loans						$	1,759,787					$	30,290					$	61,011					$	1,684					$	1,852,772

The following table presents the classes of the PCI loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system as of the periods shown:

(Dollars in thousands)						Pass						Special Mention						Substandard						Doubtful						Total
June 30, 2022
Commercial:
Business						$	389					$	—					$	46					$	2,745					$	3,180
Total commercial						389						—						46						2,745						3,180
Residential						2,210						—						392												2,602
Total loans						$	2,599					$	—					$	438					$	2,745					$	5,782
December 31, 2021
Commercial:
Business						$	2,257					$	159					$	207					$	6					$	2,629
Real estate						7,499						1,571						1,948						—						11,018
Acquisition, development and construction						178						79						—						—						257
Total commercial						9,934						1,809						2,155						6						13,904
Residential						3,406						—						952						—						4,358
Consumer						36						—						377						—						413
Total loans						$	13,376					$	1,809					$	3,484					$	6					$	18,675

Classes of the Loan Portfolio Summarized by Aging Categories

The following table presents the classes of the loan portfolio, excluding PCI loans, summarized by aging categories of performing loans and non-accrual loans as of the periods shown:

(Dollars in thousands)						Current						30-59 Days Past Due						60-89 Days Past Due						90+ Days Past Due						Total Past Due						Total Loans						Non-Accrual						90+ Days Still Accruing
June 30, 2022
Commercial
Business						$	826,892					$	54					$	90					$	3,144					$	3,288					$	830,180					$	9,023					$	—
Real estate						695,209						—						2,295						132						2,427						697,636						185						—
Acquisition, development and construction						112,012						—						—						244						244						112,256						1,069						—
Total commercial						1,634,113						54						2,385						3,520						5,959						1,640,072						10,277						—
Residential						437,796						144						914						1,707						2,765						440,561						7,989						—
Home equity						20,039						86						—						65						151						20,190						198						—
Consumer						101,085						4,698						1,271						831						6,800						107,885						831						—
Total loans						$	2,193,033					$	4,982					$	4,570					$	6,123					$	15,675					$	2,208,708					$	19,295					$	—
December 31, 2021
Commercial
Business						$	815,766					$	1,718					$	11					$	1,491					$	3,220					$	818,986					$	8,261					$	—
Real estate						561,519						126						—						73						199						561,718						192						—
Acquisition, development and construction						98,524						67						412						820						1,299						99,823						1,392						—
Total commercial						1,475,809						1,911						423						2,384						4,718						1,480,527						9,845						—
Residential						300,988						3,343						285						1,524						5,152						306,140						7,636						—
Home equity						21,974						—						119						93						212						22,186						217						—
Consumer						41,991						1211						461						256						1928						43,919						259						—
Total loans						$	1,840,762					$	6,465					$	1,288					$	4,257					$	12,010					$	1,852,772					$	17,957					$	—

The following table presents the classes of the PCI loan portfolio summarized by aging categories of performing loans and non-accrual loans as of the periods shown:

(Dollars in thousands)						Current						30-59 Days Past Due						60-89 Days Past Due						90+ Days Past Due						Total Past Due						Total Loans
June 30, 2022
Commercial:
Business						$	592					$	—					$	—					$	2,588					$	2,588					$	3,180
Total commercial						592						—						—						2,588						2,588						3,180
Residential						2,210						—						—						392						392						2,602
Total loans						$	2,802					$	—					$	—					$	2,980					$	2,980					$	5,782
December 31, 2021
Commercial:
Business						$	2,416					$	—					$	—					$	213					$	213					$	2,629
Real estate						7,680						649						—						2689						3338						11,018
Acquisition, development and construction						243						—						—						14						14						257
Total commercial						10,339						649						—						2,916						3,565						13,904
Residential						3,081						325						—						952						1,277						4,358
Consumer						36						—						—						377						377						413
Total loans						$	13,456					$	974					$	—					$	4,245					$	5,219					$	18,675

Allowance Activity

The following table presents the primary segments of the ALL, excluding PCI loans, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of the periods shown:

						Commercial																								Residential						Home Equity						Consumer						Total
(Dollars in thousands)						Business						Real Estate						Acquisition, development and construction						Total Commercial
ALL balance at December 31, 2021						$	8,027					$	5,091					$	982					$	14,100					$	948					$	128					$	2,427					$	17,603
Charge-offs						—						—						—						—						—						—						(3,652)						(3,652)
Recoveries						10						62						—						72						—						4						1,664						1,740
Provision (release)						40						1,488						(15)						1,513						824						9						4,697						7,043
ALL balance at June 30, 2022						$	8,077					$	6,641					$	967					$	15,685					$	1,772					$	141					$	5,136					$	22,734
Individually evaluated for impairment						$	1,076					$	223					$	—					$	1,299					$	84					$	—					$	212					$	1,595
Collectively evaluated for impairment						$	7,001					$	6,418					$	967					$	14,386					$	1,688					$	141					$	4,924					$	21,139
(Dollars in thousands)
ALL balance at March 31, 2022						$	6,869					$	5,566					$	735					$	13,170					$	1,127					$	131					$	3,766					$	18,194
Charge-offs						—						—						—						—						—						—						(2,529)						(2,529)
Recoveries						9						55						—						64						—						2						1,289						1,355
Provision						1,199						1,020						232						2,451						645						8						2,610						5,714
ALL balance at June 30, 2022						$	8,077					$	6,641					$	967					$	15,685					$	1,772					$	141					$	5,136					$	22,734

Substantially all of the charge-offs during six months ended June 30, 2022 are related to our subprime consumer automobile portfolio of loans.

The following table presents the primary segments of our loan portfolio, excluding PCI loans, as of the period shown:

						Commercial																								Residential						Home Equity						Consumer						Total
(Dollars in thousands)						Business						Real Estate						Acquisition, development and construction						Total Commercial
June 30, 2022
Individually evaluated for impairment						$	11,953					$	1,182					$	1,069					$	14,204					$	8,407					$	198					$	831					$	23,640
Collectively evaluated for impairment						818,227						696,454						111,187						1,625,868						432,154						19,992						107,054						2,185,068
Total loans						$	830,180					$	697,636					$	112,256					$	1,640,072					$	440,561					$	20,190					$	107,885					$	2,208,708

The following table presents the primary segments of the ALL, excluding PCI loans, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of the periods shown:

						Commercial																								Residential						Home Equity						Consumer						Total
(Dollars in thousands)						Business						Real Estate						Acquisition, development and construction						Total Commercial
ALL balance at December 31, 2020						$	12,193					$	9,079					$	2,761					$	24,033					$	1,378					$	298					$	51					$	25,760
Charge-offs						(265)						—						—						(265)						—						—						—						(265)
Recoveries						198						16												214						—						8						3						225
Provision (release)						788						(1,148)						(963)						(1,323)						(15)						(22)						522						(838)
ALL balance at June 30, 2021						$	12,914					$	7,947					$	1,798					$	22,659					$	1,363					$	284					$	576					$	24,882
Individually evaluated for impairment						$	841					$	243					$	—					$	1,084					$	—					$	69					$	—					$	1,153
Collectively evaluated for impairment						$	12,073					$	7,704					$	1,798					$	21,575					$	1,363					$	215					$	576					$	23,729
(Dollars in thousands)
ALL balance at March 31, 2021						$	11,718					$	9,724					$	2,837					$	24,279					$	1,513					$	283					$	49					$	26,124
Charge-offs						—						—						—						—						—						—						—						—
Recoveries						188						16						—						204						—						4						—						208
Provision (release)						1,008						(1,793)						(1,039)						(1,824)						(150)						(3)						527						(1,450)
ALL balance at June 30, 2021						$	12,914					$	7,947					$	1,798					$	22,659					$	1,363					$	284					$	576					$	24,882

The following table presents the primary segments of our loan portfolio, excluding PCI loans, as of the period shown:

						Commercial																								Residential						Home Equity						Consumer						Total
(Dollars in thousands)						Business						Real Estate						Acquisition, development and construction						Total Commercial
June 30, 2021
Individually evaluated for impairment						$	7,238					$	1,189					$	1,527					$	9,954					$	6,966					$	95					$	3					$	17,018
Collectively evaluated for impairment						791,702						485,715						98,478						1,375,895						248,969						24,738						10,109						1,659,711
Total Loans						$	798,940					$	486,904					$	100,005					$	1,385,849					$	255,935					$	24,833					$	10,112					$	1,676,729

The following tables summarize the primary segments of the ALL, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment for the PCI loan portfolio as of the periods shown:

						Commercial
(Dollars in thousands)						Business						Real Estate						Total Commercial																		Residential												Consumer						Total
ALL balance as of December 31, 2021						$	—					$	—					$	—																	$	544											$	119					$	663
Release						—						—						—																		(544)												(119)						(663)
ALL balance as of June 30, 2022						$	—					$	—					$	—																	$	—											$	—					$	—
ALL balance as of March 31, 2022						$	112					$	53					$	165																	$	323											$	126					$	614
Release						(112)						(53)						(165)																		(323)												(126)						(614)
ALL balance as of June 30, 2022						$	—					$	—					$	—																	$	—											$	—					$	—

(Dollars in thousands)						Commercial Business																		Residential																		Total
ALL balance as of December 31, 2020						$	—																	$	84																	$	84
Release						—																		(84)																		(84)
ALL balance as of June 30, 2021						$	—																	$	—																	$	—
ALL balance as of March 31, 2021						$	90																	$	—																	$	90
Release						(90)																		—																		(90)
ALL balance as of June 30, 2021						$	—																	$	—																	$	—

Schedule of Accretable Yield

The following table presents the accretable yield, or income expected to be collected, as of the periods shown:

						Three Months Ended June 30,
(Dollars in thousands)						2022						2021
Beginning balance						$	6,253					$	8,247
Accretion of income						(985)						(939)
Accretion from disposals						(1,041)						—
Disposals						(1,271)						—
Other changes in expected cash flows						(1,047)						(33)
Ending balance						$	1,909					$	7,275
						Six Months Ended June 30,
						2022						2021
Beginning balance						$	6,505					$	8,313
Accretion of income						(1,793)						(1,960)
Accretion from disposals						(1,041)						—
Disposals						(1,271)						—
Other changes in expected cash flows						(491)						922
Ending balance						$	1,909					$	7,275

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Financing Receivable, Accretiable Yield

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Tabular disclosure of allowance for credit loss on financing receivable.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 13
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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447

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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919253-210447

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-Topic 310
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