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Allowance for Credit Losses (Tables) | 3 Months Ended
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Mar. 31, 2024
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 month periods ended March 31, 2024 and March 31, 2023 .
(dollars in thousands) | Balance December 31, 2023 |  |  |  | Charge-Offs |  | Recoveries |  | Provision for credit losses on loans |  | Balance, March 31, 2024
Three Months Ended March 31, 2024 |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development | $ | 2,204 |  |  |  |  | $ | — |  |  | $ | 1 |  |  | $ | (159) |  |  | $ | 2,046 |
Other commercial real estate | 7,064 |  |  |  |  | (20) |  |  | 9 |  |  | 336 |  |  | 7,389 |
Total commercial real estate | 9,268 |  |  |  |  | (20) |  |  | 10 |  |  | 177 |  |  | 9,435 |
Residential real estate | 5,105 |  |  |  |  | (70) |  |  | 168 |  |  | 124 |  |  | 5,327 |
Commercial, financial & agricultural | 2,110 |  |  |  |  | (658) |  |  | 22 |  |  | 546 |  |  | 2,020 |
Consumer and other | 1,888 |  |  |  |  | (120) |  |  | 4 |  |  | 103 |  |  | 1,875 |
Total allowance for credit losses on loans | $ | 18,371 |  |  |  |  | $ | (868) |  |  | $ | 204 |  |  | $ | 950 |  |  | $ | 18,657 |
(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
(dollars in thousands) | Balance December 31, 2022 |  | Adoption of ASU 2016-13 |  | Charge-Offs |  | Recoveries |  | Provision for credit losses on loans |  | Balance, March 31, 2023
Three Months Ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development | $ | 1,959 |  |  | $ | 148 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 232 |  |  | $ | 2,342 |
Other commercial real estate | 8,886 |  |  | (630) |  |  | — |  |  | 14 |  |  | (148) |  |  | 8,122 |
Total commercial real estate | 10,845 |  |  | (482) |  |  | — |  |  | 17 |  |  | 84 |  |  | 10,464 |
Residential real estate | 2,354 |  |  | 1,053 |  |  | — |  |  | 11 |  |  | 694 |  |  | 4,112 |
Commercial, financial & agricultural | 2,709 |  |  | (690) |  |  | (273) |  |  | 7 |  |  | (96) |  |  | 1,657 |
Consumer and other | 220 |  |  | 66 |  |  | (3) |  |  | 4 |  |  | 79 |  |  | 366 |
Total allowance for loan losses | $ | 16,128 |  |  | $ | (53) |  |  | $ | (276) |  |  | $ | 39 |  |  | $ | 761 |  |  | $ | 16,599 |
(dollars in thousands) | Balance December 31, 2021 |  | Charge-Offs |  | Recoveries |  | Provision |  | Balance, September 30, 2022
The following table presents the balance and activity in the allowance for credit losses for unfunded commitments for the three month periods ended March 31, 2024 and March 31, 2023.
(dollars in thousands) | Total Allowance for Credit Losses-Unfunded Commitments
Three Months Ended |
Balance, December 31, 2023 | $ | 1,375 |
Change in unfunded commitments | 50 |
Balance, March 31, 2024 | $ | 1,425 |
Three Months Ended |
Balance, December 31, 2022 | $ | — |
Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13 | 1,661 |
Change in unfunded commitments | 139 |
Balance, March 31, 2023 | $ | 1,800 |

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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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