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v3.23.3

Allowance for Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 2023
Receivables [Abstract] |
Summary of Allowance for Credit Losses | The following tables present the balance sheet activity in the ACL by portfolio segment for loans for the three and nine month periods ended September 30, 2023 and September 30, 2022 .
CECL
(dollars in thousands) | Balance June 30, 2023 |  |  |  | Charge-Offs |  | Recoveries |  | Provision for credit losses on loans |  | Balance, September 30, 2023
Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development | $ | 2,281 |  |  |  |  | $ | — |  |  | $ | 1 |  |  | $ | (67) |  |  | $ | 2,215 |
Other commercial real estate | 8,733 |  |  |  |  | — |  |  | 8 |  |  | (21) |  |  | 8,720 |
Total commercial real estate | 11,014 |  |  |  |  | — |  |  | 9 |  |  | (88) |  |  | 10,935 |
Residential real estate | 2,642 |  |  |  |  | — |  |  | 3 |  |  | 128 |  |  | 2,773 |
Commercial, financial & agricultural | 2,984 |  |  |  |  | (714) |  |  | 13 |  |  | 737 |  |  | 3,020 |
Consumer and other | 426 |  |  |  |  | (14) |  |  | 5 |  |  | 223 |  |  | 640 |
Total allowance for credit losses on loans | $ | 17,066 |  |  |  |  | $ | (728) |  |  | $ | 30 |  |  | $ | 1,000 |  |  | $ | 17,368 |
(dollars in thousands) | Balance December 31, 2022 |  | Adoption of ASU 2016-13 |  | Charge-Offs |  | Recoveries |  | Provision for credit losses on loans |  | Balance, September 30, 2023
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development | $ | 1,959 |  |  | $ | 148 |  |  | $ | — |  |  | $ | 9 |  |  | $ | 99 |  |  | 2,215 |
Other commercial real estate | 8,886 |  |  | (630) |  |  | — |  |  | 33 |  |  | 431 |  |  | 8,720 |
Total commercial real estate | 10,845 |  |  | (482) |  |  | — |  |  | 42 |  |  | 530 |  |  | 10,935 |
Residential real estate | 2,354 |  |  | 1,053 |  |  | — |  |  | 40 |  |  | (674) |  |  | 2,773 |
Commercial, financial & agricultural | 2,709 |  |  | (690) |  |  | (1,157) |  |  | 180 |  |  | 1,978 |  |  | 3,020 |
Consumer and other | 220 |  |  | 66 |  |  | (17) |  |  | 14 |  |  | 357 |  |  | 640 |
Total allowance for credit losses on loans | $ | 16,128 |  |  | $ | (53) |  |  | $ | (1,174) |  |  | $ | 276 |  |  | $ | 2,191 |  |  | $ | 17,368 |
Incurred Loss
(dollars in thousands) | Balance June 30, 2022 |  | Charge-Offs |  | Recoveries |  | Provision |  | Balance, September 30, 2022
Three Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |
Construction, land & land development | $ | 1,052 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 873 |  |  | $ | 1,930 |
Other commercial real estate | 8,028 |  |  | — |  |  | 5 |  |  | 345 |  |  | 8,378 |
Total commercial real estate | 9,080 |  |  | — |  |  | 10 |  |  | 1,218 |  |  | 10,308 |
Residential real estate | 1,488 |  |  | — |  |  | 23 |  |  | 424 |  |  | 1,935 |
Commercial, financial & agricultural | 1,678 |  |  | (118) |  |  | 7 |  |  | 1,163 |  |  | 2,730 |
Consumer and other | 1,717 |  |  | (33) |  |  | 10 |  |  | (1,485) |  |  | 209 |
Total allowance for loan losses | $ | 13,963 |  |  | $ | (151) |  |  | $ | 50 |  |  | $ | 1,320 |  |  | $ | 15,182 |
(dollars in thousands) | Balance December 31, 2021 |  | Charge-Offs |  | Recoveries |  | Provision |  | Balance, September 30, 2022
Nine Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |
Construction, land & land development | $ | 1,127 |  |  | $ | — |  |  | $ | 16 |  |  | $ | 787 |  |  | $ | 1,930 |
Other commercial real estate | 7,691 |  |  | (58) |  |  | 79 |  |  | 666 |  |  | 8,378 |
Total commercial real estate | 8,818 |  |  | (58) |  |  | 95 |  |  | 1,453 |  |  | 10,308 |
Residential real estate | 1,805 |  |  | (48) |  |  | 45 |  |  | 133 |  |  | 1,935 |
Commercial, financial & agricultural | 1,083 |  |  | (266) |  |  | 63 |  |  | 1,850 |  |  | 2,730 |
Consumer and other | 1,204 |  |  | (54) |  |  | 25 |  |  | (966) |  |  | 209 |
Total allowance for loan losses | $ | 12,910 |  |  | $ | (426) |  |  | $ | 228 |  |  | $ | 2,470 |  |  | $ | 15,182 |
The following table represents the recorded investment in loans by portfolio segment and the balance of the allowance assigned to each segment based on the incurred loss methodology of evaluating the loans for impairment as of December 31, 2022.
(dollars in thousands) | Construction, land & land development |  | Other commercial real estate |  | Residential real estate |  | Commercial, financial & agricultural |  | Consumer and other |  | Total
Year ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |
Period end amount allocated to |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 44 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 44 |
Collectively evaluated for impairment | 1,915 |  |  | 8,853 |  |  | 2,354 |  |  | 2,709 |  |  | 220 |  |  | 16,051 |
Purchase credit impaired | — |  |  | 33 |  |  | — |  |  | — |  |  | — |  |  | 33 |
Ending Balance | $ | 1,959 |  |  | $ | 8,886 |  |  | $ | 2,354 |  |  | $ | 2,709 |  |  | $ | 220 |  |  | $ | 16,128 |
Loans |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 514 |  |  | $ | 3,754 |  |  | $ | 62 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,330 |
Collectively evaluated for impairment | 228,921 |  |  | 970,895 |  |  | 289,992 |  |  | 223,923 |  |  | 18,247 |  |  | 1,731,978 |
Purchase credit impaired | — |  |  | 798 |  |  | — |  |  | — |  |  | — |  |  | 798 |
Ending Balance | $ | 229,435 |  |  | $ | 975,447 |  |  | $ | 290,054 |  |  | $ | 223,923 |  |  | $ | 18,247 |  |  | $ | 1,737,106 |
The following table presents the balance and activity in the allowance for credit losses for unfunded commitments for the three and nine months ended September 30, 2023.
(dollars in thousands) | Total Allowance for Credit Losses-Unfunded Commitments
Three Months Ended |
Balance, June 30, 2023 | $ | 1,570 |
Change in unfunded commitments | — |
Balance, September 30, 2023 | $ | 1,570 |
Nine Months Ended |
Balance, December 31, 2022 | $ | — |
Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13 | 1,661 |
Change in unfunded commitments | (91) |
Balance, September 30, 2023 | $ | 1,570 |

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B + Details
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