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Allowance for Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
Schedule 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, 2024 and September 30, 2023.
(dollars in thousands) | Balance, June 30, 2024 |  |  |  | Charge-Offs |  | Recoveries |  | Provision for credit losses on loans |  | Balance, September 30, 2024
Three Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development | $ | 1,295 |  |  |  |  | $ | — |  |  | $ | 13 |  |  | $ | (14) |  |  | $ | 1,294 |
Other commercial real estate | 7,396 |  |  |  |  | — |  |  | 25 |  |  | (375) |  |  | 7,046 |
Total commercial real estate | 8,691 |  |  |  |  | — |  |  | 38 |  |  | (389) |  |  | 8,340 |
Residential real estate | 5,990 |  |  |  |  | (9) |  |  | 45 |  |  | 69 |  |  | 6,095 |
Commercial, financial & agricultural | 2,015 |  |  |  |  | (85) |  |  | 76 |  |  | 885 |  |  | 2,891 |
Consumer and other | 2,110 |  |  |  |  | (215) |  |  | 11 |  |  | 431 |  |  | 2,337 |
Total allowance for credit losses on loans | $ | 18,806 |  |  |  |  | $ | (309) |  |  | $ | 170 |  |  | $ | 996 |  |  | $ | 19,663 |
(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 loan losses | $ | 17,066 |  |  |  |  | $ | (728) |  |  | $ | 30 |  |  | $ | 1,000 |  |  | $ | 17,368 |
(dollars in thousands) | Balance, December 31, 2023 |  |  |  | Charge-Offs |  | Recoveries |  | Provision for credit losses on loans |  | Balance, September 30, 2024
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |
Construction, land & land development | $ | 2,204 |  |  |  |  | $ | — |  |  | $ | 15 |  |  | $ | (925) |  |  | 1,294 |
Other commercial real estate | 7,064 |  |  |  |  | (20) |  |  | 43 |  |  | (41) |  |  | 7,046 |
Total commercial real estate | 9,268 |  |  |  |  | (20) |  |  | 58 |  |  | (966) |  |  | 8,340 |
Residential real estate | 5,105 |  |  |  |  | (349) |  |  | 252 |  |  | 1,087 |  |  | 6,095 |
Commercial, financial & agricultural | 2,110 |  |  |  |  | (1,099) |  |  | 135 |  |  | 1,745 |  |  | 2,891 |
Consumer and other | 1,888 |  |  |  |  | (466) |  |  | 19 |  |  | 896 |  |  | 2,337 |
Total allowance for credit losses on loans | $ | 18,371 |  |  |  |  | $ | (1,934) |  |  | $ | 464 |  |  | $ | 2,762 |  |  | $ | 19,663 |
(dollars in thousands) | Balance December 31, 2021 |  |  |  | Charge-Offs |  | Recoveries |  | Provision |  | Balance, September 30, 2022
Nine Months Ended September 30, 2023 | Balance December 31, 2022 |  | Adoption of ASU 2016-13 |  | Charge-Offs |  | Recoveries |  | Provision for credit losses on loans |  | Balance, 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 loan losses | $ | 16,128 |  |  | $ | (53) |  |  | $ | (1,174) |  |  | $ | 276 |  |  | $ | 2,191 |  |  | $ | 17,368 |
The following table presents the balance and activity in the allowance for credit losses for unfunded commitments for the three and nine month periods ended September 30, 2024 and September 30, 2023.
| Three Months Ended September 30, | Nine Months Ended September 30,
(dollars in thousands) | 2024 | 2023 | 2024 | 2023
Beginning balance | $ | 1,259 |  | $ | 1,570 |  | $ | 1,375 |  | $ | — |
Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13 | — |  | — |  | — |  | 1,661 |
Change in unfunded commitments | (246) |  | — |  | (362) |  | (91) |
Ending balance | $ | 1,013 |  | $ | 1,570 |  | $ | 1,013 |  | $ | 1,570 |

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