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Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Components of Loans in Consolidated Balance Sheet

The components of loans in the Consolidated Balance Sheet at December 31, were as follows:

(Dollars in thousands)						2022						2021
Commercial:
Business						$	851,072					$	818,986
Real estate						632,839						561,718
Acquisition, development and construction						126,999						99,823
Total commercial						$	1,610,910					$	1,480,527
Residential real estate						606,970						306,140
Home equity lines of credit						18,734						22,186
Consumer						131,566						43,919
Total loans, excluding PCI						2,368,180						1,852,772
Purchased credit impaired loans:
Commercial:
Business						—						2,629
Real estate						—						11,018
Acquisition, development and construction						—						257
Total commercial						—						13,904
Residential real estate						2,482						4,358
Consumer						—						413
Total purchased credit impaired loans						$	2,482					$	18,675
Total loans						2,370,662						1,871,447
Deferred loan origination costs and (fees), net						1,983						(1,609)
Loans receivable						$	2,372,645					$	1,869,838

Primary Segments of the Loan Portfolio

The following table summarizes the primary segments of the loan portfolio as of December 31, 2022 and 2021:

						Commercial
(Dollars in thousands)						Business						Real Estate						Acquisition, development and construction						Total Commercial						Residential						Home Equity Lines of Credit						Consumer						Total
December 31, 2022
Individually evaluated for impairment						$	10,451					$	1,365					$	—					$	11,816					$	2,603					$	90					$	1,351					$	15,860
Collectively evaluated for impairment						840,621						631,474						126,999						1,599,094						606,849						18,644						130,215						2,354,802
Total loans						$	851,072					$	632,839					$	126,999					$	1,610,910					$	609,452					$	18,734					$	131,566					$	2,370,662
December 31, 2021
Individually evaluated for impairment						$	12,954					$	2,206					$	1,392					$	16,552					$	8,765					$	217					$	432					$	25,966
Collectively evaluated for impairment						808,661						570,530						98,688						1,477,879						301,733						21,969						43,900						1,845,481
Total loans						$	821,615					$	572,736					$	100,080					$	1,494,431					$	310,498					$	22,186					$	44,332					$	1,871,447

Impaired Loans by Class

The following table presents impaired loans by class segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary as of December 31, 2022 and 2021:

						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
December 31, 2022
Commercial:
Business						$	3,436					$	1,253					$	7,015					$	10,451					$	15,324
Real estate						1,240						222						125						1,365						1,470
Acquisition, development and construction						—						—						—						—						1,415
Total commercial						4,676						1,475						7,140						11,816						18,209
Residential						—						—						2,603						2,603						2,671
Home equity lines of credit						—						—						90						90						94
Consumer						1,347						268						4						1,351						1,351
Total impaired loans						$	6,023					$	1,743					$	9,837					$	15,860					$	22,325
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 lines of credit						—						—						217						217						221
Consumer						—						—						259						259						259
Total impaired loans						$	3,069					$	475					$	19,386					$	22,455					$	25,845

Average Recorded Investment in Impaired Loans and Related Interest Income Recognized

The following table presents the average recorded investment in impaired loans and related interest income recognized for the years ended:

						December 31, 2022																		December 31, 2021																		December 31, 2020
(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						Average Investment in Impaired Loans						Interest Income Recognized on Accrual Basis						Interest Income Recognized on Cash Basis
Commercial:
Business						$	12,781					$	8					$	6					$	7,701					$	—					$	—					$	6,066					$	—					$	—
Real estate						1,479						57						59						2,051						60						43						3,057						97						104
Acquisition, development and construction						273						—						—						344						—						—						1,207						67						73
Total commercial						14,533						65						65						10,096						60						43						10,330						164						177
Residential						6,952						15						15						5,992						15						14						2,541						19						19
Home equity lines of credit						149						—						—						81						—						—						87						—						—
Consumer						915						—						—						41						—						—						7						—						—
Total						$	22,549					$	80					$	80					$	16,210					$	75					$	57					$	12,965					$	183					$	196

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

The following table represents the classes of the 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 December 31, 2022 and 2021:

(Dollars in thousands)						Pass						Special Mention						Substandard						Doubtful						Total
December 31, 2022
Commercial:
Business						$	830,319					$	5,963					$	12,103					$	2,687					$	851,072
Real estate						592,997						18,883						20,600						359						632,839
Acquisition, development and construction						120,788						5,277						934												126,999
Total commercial						1,544,104						30,123						33,637						3,046						1,610,910
Residential						605,513						760						1,556						1,623						609,452
Home equity lines of credit						18,269						375						90						—						18,734
Consumer						131,562						—						4						—						131,566
Total loans						$	2,299,448					$	31,258					$	35,287					$	4,669					$	2,370,662
December 31, 2021
Commercial:
Business						$	789,101					$	12,246					$	18,143					$	2,125					$	821,615
Real estate						526,851						12,598						31,293						1,994						572,736
Acquisition, development and construction						89,893						4,960						4,163						1,064						100,080
Total commercial						1,405,845						29,804						53,599						5,183						1,494,431
Residential						299,291						899						9,815						493						310,498
Home equity lines of credit						21,582						387						191						26						22,186
Consumer						43,519						24						259						530						44,332
Total loans						$	1,770,237					$	31,114					$	63,864					$	6,232					$	1,871,447

Classes of the Loan Portfolio Summarized by Aging Categories

The following table presents the classes of the loan portfolio summarized by aging categories of performing loans and nonaccrual loans as of December 31, 2022 and 2021:

(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
December 31, 2022
Commercial:
Business						$	850,112					$	—					$	960					$	—					$	960					$	851,072					$	7,528					$	—
Real estate						632,839						—						—						—						—						632,839						—						—
Acquisition, development and construction						126,999						—						—						—						—						126,999						—						—
Total commercial						1,609,950						—						960						—						960						1,610,910						7,528						—
Residential						606,554						1,820						1,078						—						2,898						609,452						2,196						—
Home equity lines of credit						18,131						603						—						—						603						18,734						90						—
Consumer						120,504						6,848						2,867						1,347						11,062						131,566						1,351						—
Total loans						$	2,355,139					$	9,271					$	4,905					$	1,347					$	15,523					$	2,370,662					$	11,165					$	—
December 31, 2021
Commercial:
Business						$	816,638					$	1,718					$	11					$	3,248					$	4,977					$	821,615					$	8,261					$	—
Real estate						569,792						396						461						2,087						2,944						572,736						192						—
Acquisition, development and construction						98,781						67						412						820						1,299						100,080						1,392						—
Total commercial						1,485,211						2,181						884						6,155						9,220						1,494,431						9,845						—
Residential						303,940						3,620						285						2,653						6,558						310,498						7,636						—
Home equity lines of credit						21,974						—						119						93						212						22,186						217						—
Consumer						42,231						1,211						461						429						2,101						44,332						259						—
Total loans						$	1,853,356					$	7,012					$	1,749					$	9,330					$	18,091					$	1,871,447					$	17,957					$	—

Allowance Activity

The following tables summarize the activity of 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 years ending December 31, 2022, 2021 and 2020:

						Commercial
(Dollars in thousands)						Business						Real Estate						Acquisition, development and construction						Total Commercial						Residential						Home Equity Lines of Credit						Consumer						Total
ALL balance at December 31, 2021						$	8,027					$	5,091					$	982					$	14,100					$	1,492					$	128					$	2,546					$	18,266
Charge-offs						(2,858)						—						—						(2,858)						(84)						—						(12,241)						(15,183)
Recoveries						56						127						—						183						—						7						6,370						6,560
Provision (release)						3,546						486						82						4,114						1,472						(4)						8,612						14,194
ALL balance at December 31, 2022						$	8,771					$	5,704					$	1,064					$	15,539					$	2,880					$	131					$	5,287					$	23,837
Individually evaluated for impairment						$	1,253					$	222					$	—					$	1,475					$	—					$	—					$	268					$	1,743
Collectively evaluated for impairment						$	7,518					$	5,482					$	1,064					$	14,064					$	2,880					$	131					$	5,019					$	22,094

						Commercial
(Dollars in thousands)						Business						Real Estate						Acquisition, development and construction						Total Commercial						Residential						Home Equity Lines of Credit						Consumer						Total
ALL balance at December 31, 2020						$	12,193					$	9,079					$	2,761					$	24,033					$	1,462					$	298					$	51					$	25,844
Charge-offs						(1,284)						(83)						—						(1,367)						(5)						—						(247)						(1,619)
Recoveries						231						—						—						231						—						24						61						316
Provision (release)						(3,113)						(3,905)						(1,779)						(8,797)						35						(194)						2,681						(6,275)
ALL balance at December 31, 2021						$	8,027					$	5,091					$	982					$	14,100					$	1,492					$	128					$	2,546					$	18,266
Individually evaluated for impairment						$	232					$	243					$	—					$	475					$	—					$	—					$	—					$	475
Collectively evaluated for impairment						$	7,795					$	4,848					$	982					$	13,625					$	1,492					$	128					$	2,546					$	17,791

						Commercial
(Dollars in thousands)						Business						Real Estate						Acquisition, development and construction			Total Commercial						Residential						Home Equity Lines of Credit						Consumer						Total
ALL balance at December 31, 2019						$	6,197					$	2,988					$	913		$	10,098					$	1,272					$	327					$	78					$	11,775
Charge-offs						(1,909)						(23)						—			(1,932)						(235)						(23)						—						(2,190)
Recoveries						15						7						—			22						—						9						3						34
Provision (release)						7,890						6,107						1,848			15,845						779						(15)						(30)						16,579
Allowance contributed with mortgage combination transaction						—						—						—			—						(354)						—						—						(354)
ALL balance at December 31, 2020						$	12,193					$	9,079					$	2,761		$	24,033					$	1,462					$	298					$	51					$	25,844
Individually evaluated for impairment						$	1,034					$	262					$	—		$	1,296					$	—					$	—					$	—					$	1,296
Collectively evaluated for impairment						$	11,159					$	8,817					$	2,761		$	22,737					$	1,462					$	298					$	51					$	24,548

Loans Identified as Troubled Debt Restructuring

The following table presents details related to loans identified as TDRs during the year ended December 31, 2021:

						December 31, 2021
(Dollars in thousands)						Number of Contracts						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment
Commercial:
Business						2						$	5,200					$	4,836
Real estate						—						—						—
Total commercial						2						5,200						4,836
Residential						—						—						—
Total						2						$	5,200					$	4,836

1 The pre-modification and post-modification balances represent the balances outstanding immediately before and after modification of the loan.

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