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Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2022

Allowance for Loan Losses

Schedule of allowance for loan losses

The following tables present the activity in the allowance for loan losses for the three months ended March 31, 2022 and March 31, 2021, as well as the total allowance for loan losses, the allowance by impairment methodology and loans by impairment methodology as of March 31, 2022 and March 31, 2021.


		March 31, 2022
		Real Estate
					Construction &
					Land
Dollars in thousands		Commercial			Development			Residential			Commercial			Consumer			Unallocated			Total
Allowance for loan losses:
Beginning Balance, December 31, 2021		$	13,091		$	2,824		$	2,769		$	711		$	5		$	632		$	20,032
Charge-offs			(1)			—			—			—			—			—			(1)
Recoveries			—			—			—			—			—			—			—
Provision			(694)			922			(12)			(11)			—			(205)			—
Ending Balance, March 31, 2022		$	12,396		$	3,746		$	2,757		$	700		$	5		$	427		$	20,031

Individually evaluated for impairment		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Collectively evaluated for impairment		$	12,396		$	3,746		$	2,757		$	700		$	5		$	427		$	20,031

Loans:
Ending Balance, March 31, 2022		$	992,126		$	219,160		$	356,331		$	60,350		$	513		$	—		$	1,628,480
Individually evaluated for impairment		$	—		$	—		$	542		$	—		$	—		$	—		$	542
Collectively evaluated for impairment		$	992,126		$	219,160		$	355,789		$	60,350		$	513		$	—		$	1,627,938


		March 31, 2021
		Real Estate
					Construction &
					Land
Dollars in thousands		Commercial			Development			Residential			Commercial			Consumer			Unallocated			Total
Allowance for loan losses:
Beginning Balance, December 31, 2020		$	10,602		$	2,617		$	2,430		$	1,007		$	11		$	350		$	17,017
Charge-offs			—			—			—			(1)			—			—			(1)
Recoveries			—			—			—			—			—			—			—
Provision			1,643			780			(20)			(271)			(2)			235			2,365
Ending Balance, March 31, 2021		$	12,245		$	3,397		$	2,410		$	735		$	9		$	585		$	19,381

Individually evaluated for impairment		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Collectively evaluated for impairment		$	12,245		$	3,397		$	2,410		$	735		$	9		$	585		$	19,381

Loans:
Ending Balance, March 31, 2021		$	895,547		$	250,208		$	281,964		$	178,433		$	793		$	—		$	1,606,945
Individually evaluated for impairment		$	141		$	—		$	448		$	—		$	—		$	—		$	589
Collectively evaluated for impairment		$	895,406		$	250,208		$	281,516		$	178,433		$	793		$	—		$	1,606,356

Schedule of impaired loans

The following tables present a summary of impaired loans and the related allowance as of March 31, 2022 and December 31, 2021.


		March 31, 2022
					Recorded			Recorded
		Unpaid			Investment			Investment			Total						Average			Interest
		Principal			with			with			Recorded			Related			Recorded			Income
(Dollars in thousands)		Balance			No Allowance			Allowance			Investment			Allowance			Investment			Recognized
Real Estate Loans
Commercial		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Construction and land development			—			—			—			—			—			—			—
Residential			542			542			—			542			—			545			5
Commercial			—			—			—			—			—			—			—
Consumer			—			—			—			—			—			—			—
Total Impaired Loans		$	542		$	542		$	—		$	542		$	—		$	545		$	5


		December 31, 2021
					Recorded			Recorded
		Unpaid			Investment			Investment			Total						Average			Interest
		Principal			with			with			Recorded			Related			Recorded			Income
(Dollars in thousands)		Balance			No Allowance			Allowance			Investment			Allowance			Investment⁽¹⁾			Recognized⁽¹⁾
Real Estate Loans
Commercial		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Construction and land development			—			—			—			—			—			—			—
Residential			549			549			—			549			—			569			24
Commercial			—			—			—			—			—			—			—
Consumer			—			—			—			—			—			—			—
Total Impaired Loans		$	549		$	549		$	—		$	549		$	—		$	569		$	24

Schedule of past due and non-accrual loans

The following tables present a summary of past due and non-accrual loans by class as of March 31, 2022 and December 31, 2021.


		March 31, 2022
		30-59 Days			60-89 Days			90 Days or												90 Days or More
		Past			Past			More			Total Past						Total			Past Due and			Nonaccrual
(Dollars in thousands)		Due			Due			Past Due			Due			Current			Loans			Still Accruing			Loans
Real Estate Loans
Commercial		$	—		$	—		$	—		$	—		$	992,126			992,126		$	—		$	—
Construction and land development			—			—			—			—			219,160			219,160			—			—
Residential			—			—			—			—			356,331			356,331			—			—
Commercial			—			—			—			—			60,350			60,350			—			—
Consumer			—			—			—			—			513			513			—			—
Total Loans		$	—		$	—		$	—		$	—		$	1,628,480		$	1,628,480		$	—		$	—


		December 31, 2021
		30-59 Days			60-89 Days			90 Days or												90 Days or More
		Past			Past			More			Total Past						Total			Past Due and			Nonaccrual
(Dollars in thousands)		Due			Due			Past Due			Due			Current			Loans			Still Accruing			Loans
Real Estate Loans
Commercial		$	—		$	—		$	—		$	—		$	968,442		$	968,442		$	—		$	—
Construction and land development			—			—			—			—			231,090			231,090			—			—
Residential			—			—			—			—			342,491			342,491			—			—
Commercial			—			—			—			—			122,945			122,945			—			—
Consumer			—			—			—			—			586			586			—			—
Total Loans		$	—		$	—		$	—		$	—		$	1,665,554		$	1,665,554		$	—		$	—

Schedule of credit quality information

The following tables present a summary of credit quality information for loans by class as of March 31, 2022 and December 31, 2021.


		March 31, 2022
					Special												Total
(Dollars in thousands)		Pass			Mention			Substandard			Doubtful			Loss			Loans
Real Estate Loans
Commercial		$	985,025		$	6,974		$	127		$	—		$	—		$	992,126
Construction and land development			219,160			—			—			—			—			219,160
Residential			356,219			—			112			—			—			356,331
Commercial			60,350			—			—			—			—			60,350
Consumer			513			—			—			—			—			513
Total Loans		$	1,621,267		$	6,974		$	239		$	—		$	—		$	1,628,480


		December 31, 2021
					Special												Total
(Dollars in thousands)		Pass			Mention			Substandard			Doubtful			Loss			Loans
Real Estate Loans
Commercial		$	961,177		$	7,029		$	236		$	—		$	—		$	968,442
Construction and land development			230,704			—			386			—			—			231,090
Residential			342,377			—			114			—			—			342,491
Commercial			122,945			—			—			—			—			122,945
Consumer			586			—			—			—			—			586
Total Loans		$	1,657,789		$	7,029		$	736		$	—		$	—		$	1,665,554