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v3.23.3

Loans (Tables) | 9 Months Ended
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Sep. 30, 2023
Receivables [Abstract] |
Schedule of Loans Segregated by Class | The following table presents the composition of loans segregated by class of loans, as of September 30, 2023 and December 31, 2022.
(dollars in thousands) | September 30, 2023 |  | December 31, 2022
Construction, land & land development | $ | 245,268 |  |  | $ | 229,435 |
Other commercial real estate | 969,168 |  |  | 975,447 |
Total commercial real estate | 1,214,436 |  |  | 1,204,882 |
Residential real estate | 339,501 |  |  | 290,054 |
Commercial, financial & agricultural | 252,725 |  |  | 223,923 |
Consumer and other | 58,309 |  |  | 18,247 |
Total Loans | $ | 1,864,971 |  |  | $ | 1,737,106 |
The following table presents the composition of government guaranteed loans segregated by class of loans for each respective period.
(dollars in thousands) | September 30, 2023 |  | December 31, 2022
Construction, land & land development | $ | 7,665 |  |  | $ | 5,888 |
Other commercial real estate | 35,316 |  |  | 32,642 |
Total commercial real estate | 42,981 |  |  | 38,530 |
Residential real estate | 11,757 |  |  | 8,036 |
Commercial, financial & agricultural | 27,645 |  |  | 11,787 |
Consumer and other | — |  |  | — |
Total Loans | $ | 82,383 |  |  | $ | 58,353 |
Schedule of Loan Portfolio by Credit Quality Indicators | The following table presents the loan portfolio segregated by class of loans and the risk category of term loans by vintage year, which is the year of origination or most recent renewal, as of September 30, 2023. Those loans with a risk grade of 1, 2, 3, 4 and 5 have been combined in the pass column for presentation purposes. There were no loans with a risk rating of "doubtful" or "loss" at September 30, 2023.
| Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |
(dollars in thousands) | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Revolvers |  | Revolvers converted to term loans |  | Total
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 93,480 |  |  | $ | 105,461 |  |  | $ | 27,729 |  |  | $ | 7,808 |  |  | $ | 1,031 |  |  | $ | 5,955 |  |  | $ | 2,535 |  |  | $ | 31 |  |  | $ | 244,030 |
Special Mention | — |  |  | — |  |  | 25 |  |  | — |  |  | — |  |  | 33 |  |  | — |  |  | — |  |  | 58 |
Substandard | — |  |  | 883 |  |  | 5 |  |  | — |  |  | 21 |  |  | 146 |  |  | 125 |  |  | — |  |  | 1,180 |
Total Construction, land & land development | 93,480 |  |  | 106,344 |  |  | 27,759 |  |  | 7,808 |  |  | 1,052 |  |  | 6,134 |  |  | 2,660 |  |  | 31 |  |  | 245,268 |
Current period gross write offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Other commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 40,254 |  |  | 340,854 |  |  | 208,444 |  |  | 92,693 |  |  | 84,083 |  |  | 155,802 |  |  | 25,603 |  |  | 1,079 |  |  | 948,812 |
Special Mention | — |  |  | 802 |  |  | 419 |  |  | 2,128 |  |  | 4,550 |  |  | 4,696 |  |  | 35 |  |  | — |  |  | 12,630 |
Substandard | — |  |  | 4,423 |  |  | 287 |  |  | — |  |  | — |  |  | 2,758 |  |  | 258 |  |  | — |  |  | 7,726 |
Total Other commercial real estate | 40,254 |  |  | 346,079 |  |  | 209,150 |  |  | 94,821 |  |  | 88,633 |  |  | 163,256 |  |  | 25,896 |  |  | 1,079 |  |  | 969,168 |
Current period gross write offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Residential real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 55,868 |  |  | 119,728 |  |  | 52,516 |  |  | 23,033 |  |  | 9,108 |  |  | 45,226 |  |  | 20,809 |  |  | — |  |  | 326,288 |
Special Mention | 296 |  |  | 809 |  |  | 309 |  |  | 51 |  |  | 555 |  |  | 4,461 |  |  | 98 |  |  | — |  |  | 6,579 |
Substandard | 253 |  |  | 838 |  |  | 208 |  |  | 271 |  |  | 277 |  |  | 4,777 |  |  | 10 |  |  | — |  |  | 6,634 |
Total Residential real estate | 56,417 |  |  | 121,375 |  |  | 53,033 |  |  | 23,355 |  |  | 9,940 |  |  | 54,464 |  |  | 20,917 |  |  | — |  |  | 339,501 |
Current period gross write offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial, financial & agricultural |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 62,802 |  |  | 57,302 |  |  | 25,445 |  |  | 14,308 |  |  | 5,415 |  |  | 14,495 |  |  | 56,939 |  |  | 318 |  |  | 237,024 |
Special Mention | 8,471 |  |  | 544 |  |  | 311 |  |  | 390 |  |  | 25 |  |  | 33 |  |  | 826 |  |  | — |  |  | 10,600 |
Substandard | 215 |  |  | 88 |  |  | 4,190 |  |  | 129 |  |  | 30 |  |  | 326 |  |  | 98 |  |  | 25 |  |  | 5,101 |
Total Commercial, financial & agricultural | 71,488 |  |  | 57,934 |  |  | 29,946 |  |  | 14,827 |  |  | 5,470 |  |  | 14,854 |  |  | 57,863 |  |  | 343 |  |  | 252,725 |
Current period gross write offs | — |  |  | 692 |  |  | 404 |  |  | — |  |  | — |  |  | 61 |  |  | — |  |  | — |  |  | 1,157 |
Consumer and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 47,123 |  |  | 4,622 |  |  | 2,381 |  |  | 1,483 |  |  | 1,017 |  |  | 1,004 |  |  | 445 |  |  | — |  |  | 58,075 |
Special Mention | 77 |  |  | 4 |  |  | 43 |  |  | 14 |  |  | 31 |  |  | 2 |  |  | — |  |  | — |  |  | 171 |
Substandard | 16 |  |  | 23 |  |  | 2 |  |  | 7 |  |  | 5 |  |  | 10 |  |  | — |  |  | — |  |  | 63 |
Total Consumer and other | 47,216 |  |  | 4,649 |  |  | 2,426 |  |  | 1,504 |  |  | 1,053 |  |  | 1,016 |  |  | 445 |  |  | — |  |  | 58,309 |
Current period gross write offs | — |  |  | 12 |  |  | 1 |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 17 |
Total Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 299,527 |  |  | 627,968 |  |  | 316,516 |  |  | 139,324 |  |  | 100,653 |  |  | 222,484 |  |  | 106,330 |  |  | 1,428 |  |  | 1,814,230 |
Special Mention | 8,844 |  |  | 2,158 |  |  | 1,108 |  |  | 2,583 |  |  | 5,161 |  |  | 9,224 |  |  | 959 |  |  | — |  |  | 30,037 |
Substandard | 484 |  |  | 6,255 |  |  | 4,692 |  |  | 406 |  |  | 333 |  |  | 8,018 |  |  | 491 |  |  | 25 |  |  | 20,704 |
Total Loans | $ | 308,855 |  |  | $ | 636,381 |  |  | $ | 322,316 |  |  | $ | 142,313 |  |  | $ | 106,147 |  |  | $ | 239,726 |  |  | $ | 107,780 |  |  | $ | 1,453 |  |  | $ | 1,864,971 |
Total current period gross write offs | $ | — |  |  | $ | 705 |  |  | $ | 404 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 61 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,174 |
The following table presents the loan portfolio by credit quality indicator (risk grade) as of December 31, 2022. Those loans with a risk grade of 1, 2, 3, 4 and 5 have been combined in the pass column for presentation purposes. There were no loans with a risk rating of "doubtful" or "loss" at December 31, 2022.
(dollars in thousands) |  |  | Special |  |  |  |
December 31, 2022 | Pass |  | Mention |  | Substandard |  | Total
Construction, land & land development | $ | 228,494 |  |  | $ | 290 |  |  | $ | 651 |  |  | $ | 229,435 |
Other commercial real estate | 951,126 |  |  | 17,562 |  |  | 6,759 |  |  | 975,447 |
Total commercial real estate | 1,179,620 |  |  | 17,852 |  |  | 7,410 |  |  | 1,204,882 |
Residential real estate | 277,930 |  |  | 6,574 |  |  | 5,550 |  |  | 290,054 |
Commercial, financial & agricultural | 220,908 |  |  | 885 |  |  | 2,130 |  |  | 223,923 |
Consumer and other | 18,157 |  |  | 54 |  |  | $ | 36 |  |  | 18,247 |
Total Loans | $ | 1,696,615 |  |  | $ | 25,365 |  |  | $ | 15,126 |  |  | $ | 1,737,106 |
Summary of Age Analysis of Past Due Loans | The following table presents the aging of the amortized cost basis of loans by aging category and accrual status as of September 30, 2023 and December 31, 2022:
(dollars in thousands) | 30-89 Days Past Due |  | 90 Days or More Past Due |  | Total Accruing Loans Past Due |  | Nonaccrual Loans |  | Current Loans |  | Total Loans
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 92 |  |  | $ | 245,176 |  |  | $ | 245,268 |
Other commercial real estate | 469 |  |  | — |  |  | 469 |  |  | 1,589 |  |  | 967,110 |  |  | 969,168 |
Total commercial real estate | 469 |  |  | — |  |  | 469 |  |  | 1,681 |  |  | 1,212,286 |  |  | 1,214,436 |
Residential real estate | 1,185 |  |  | — |  |  | 1,185 |  |  | 3,289 |  |  | 335,027 |  |  | 339,501 |
Commercial, financial & agricultural | 131 |  |  | — |  |  | 131 |  |  | 4,275 |  |  | 248,319 |  |  | 252,725 |
Consumer and other | 14 |  |  | 9 |  |  | 23 |  |  | 21 |  |  | 58,265 |  |  | 58,309 |
Total Loans | $ | 1,799 |  |  | $ | 9 |  |  | $ | 1,808 |  |  | $ | 9,266 |  |  | $ | 1,853,897 |  |  | $ | 1,864,971 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 149 |  |  | $ | 229,286 |  |  | $ | 229,435 |
Other commercial real estate | 395 |  |  | — |  |  | 395 |  |  | 1,509 |  |  | 973,543 |  |  | 975,447 |
Total commercial real estate | 395 |  |  | — |  |  | 395 |  |  | 1,658 |  |  | 1,202,829 |  |  | 1,204,882 |
Residential real estate | 882 |  |  | — |  |  | 882 |  |  | 2,686 |  |  | 286,486 |  |  | 290,054 |
Commercial, financial & agricultural | 476 |  |  | — |  |  | 476 |  |  | 1,341 |  |  | 222,106 |  |  | 223,923 |
Consumer and other | 40 |  |  | — |  |  | 40 |  |  | 21 |  |  | 18,186 |  |  | 18,247 |
Total Loans | $ | 1,793 |  |  | $ | — |  |  | $ | 1,793 |  |  | $ | 5,706 |  |  | $ | 1,729,607 |  |  | $ | 1,737,106 |
Summary of Nonaccrual Loans | The following table is a summary of the Company's nonaccrual loans by major categories for the periods indicated.
| September 30, 2023 |  |
(dollars in thousands) | Nonaccrual Loans with No Related ACL |  | Nonaccrual Loans with a Related ACL |  | Total Nonaccrual Loans |  |
Construction, land & land development | $ | 28 |  |  | $ | 64 |  |  | $ | 92 |  |  |
Other commercial real estate | 784 |  |  | 805 |  |  | 1,589 |  |  |
Total commercial real estate | 812 |  |  | 869 |  |  | 1,681 |  |  |
Residential real estate | 328 |  |  | 2,961 |  |  | 3,289 |  |  |
Commercial, financial & agricultural | 620 |  |  | 3,655 |  |  | 4,275 |  |  |
Consumer and other | — |  |  | 21 |  |  | 21 |  |  |
Total Loans | $ | 1,760 |  |  | $ | 7,506 |  |  | $ | 9,266 |  |  |
Summary of Impaired Loan Data | The following table details impaired loan data, including purchased credit impaired loans, as of December 31, 2022.
| December 31, 2022 |  |  |  |
(dollars in thousands) | Unpaid Contractual Principal Balance |  | Recorded Investment |  | Related Allowance |  | Average Recorded Investment |  |  |  |
With No Related Allowance Recorded |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development | $ | 40 |  |  | $ | 40 |  |  | $ | — |  |  | $ | 10 |  |  |  |  |
Other commercial real estate | 3,754 |  |  | 3,754 |  |  | — |  |  | 5,311 |  |  |  |  |
Residential real estate | 62 |  |  | 62 |  |  | — |  |  | 570 |  |  |  |  |
Commercial, financial & agricultural | — |  |  | — |  |  | — |  |  | 306 |  |  |  |  |
Consumer and other | — |  |  | — |  |  | — |  |  | 1 |  |  |  |  |
| 3,856 |  |  | 3,856 |  |  | — |  |  | 6,198 |  |  |  |  |
With An Allowance Recorded |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development | 474 |  |  | 474 |  |  | 44 |  |  | 177 |  |  |  |  |
Other commercial real estate | — |  |  | — |  |  | — |  |  | 503 |  |  |  |  |
Residential real estate | — |  |  | — |  |  | — |  |  | 588 |  |  |  |  |
Commercial, financial & agricultural | — |  |  | — |  |  | — |  |  | 369 |  |  |  |  |
Consumer and other | — |  |  | — |  |  | — |  |  | — |  |  |  |  |
| 474 |  |  | 474 |  |  | 44 |  |  | 1,637 |  |  |  |  |
Purchased Credit Impaired Loans |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development | — |  |  | — |  |  | — |  |  | — |  |  |  |  |
Other commercial real estate | 798 |  |  | 798 |  |  | 33 |  |  | 760 |  |  |  |  |
Residential real estate | — |  |  | — |  |  | — |  |  | 13 |  |  |  |  |
Commercial, financial & agricultural | — |  |  | — |  |  | — |  |  | — |  |  |  |  |
Consumer and other | — |  |  | — |  |  | — |  |  | 65 |  |  |  |  |
| 798 |  |  | 798 |  |  | 33 |  |  | 838 |  |  |  |  |
Total |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development | 514 |  |  | 514 |  |  | 44 |  |  | 187 |  |  |  |  |
Other commercial real estate | 4,552 |  |  | 4,552 |  |  | 33 |  |  | 6,574 |  |  |  |  |
Residential real estate | 62 |  |  | 62 |  |  | — |  |  | 1,171 |  |  |  |  |
Commercial, financial & agricultural | — |  |  | — |  |  | — |  |  | 675 |  |  |  |  |
Consumer and other | — |  |  | — |  |  | — |  |  | 66 |  |  |  |  |
| $ | 5,128 |  |  | $ | 5,128 |  |  | $ | 77 |  |  | $ | 8,673 |  |  |  |  |
Summary of Loans Modified Due to Financial Difficulty | The following table presents loans modified due to a financial difficulty under the above terms during the three and nine months ended September 30, 2023.
| Loans modified due to financial difficulty
(dollars in thousands) | Term Extension |  | Term Extension and Payment Delay |  | Total*
Residential real estate | $ | 13 |  |  | $ | — |  |  | $ | 13 |
Commercial, financial & agricultural | — |  |  | 10 |  |  | 10 |
Total Loans | $ | 13 |  |  | $ | 10 |  |  | $ | 23 |
*less than .01% of total class of receivable |  |  |  |  |

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