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LOANS (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Summary of loans by category

Loans summarized by category as of March 31, 2020, December 31, 2019 and March 31, 2019 are as follows:

		March 31,				December 31,				March 31,
(Dollars in thousands)		2020				2019				2019
Commercial, financial and agricultural		$	50,313			$	51,805			$	52,289
Real estate:
Construction			83,547				73,512				56,234
Mortgage-residential			46,471				45,357				50,732
Mortgage-commercial			530,180				527,447				519,420
Consumer:
Home equity			28,641				28,891				30,092
Other			10,377				10,016				9,653
Total		$	749,529			$	737,028			$	718,420

Schedule of activity in the allowance for loan losses and the recorded investment in loans receivable

The detailed activity in the allowance for loan losses and the recorded investment in loans receivable as of and for the three months ended March 31, 2020 and March 31, 2019 and for the year ended December 31, 2019 is as follows:

(Dollars in thousands)
										Real estate				Real estate				Consumer
						Real estate				Mortgage				Mortgage				Home				Consumer
		Commercial				Construction				Residential				Commercial				equity				Other				Unallocated				Total
March 31, 2020
Allowance for loan losses:
Beginning balance December 31, 2019		$	427			$	111			$	367			$	4,602			$	240			$	97			$	783			$	6,627
Charge-offs			—				—				—				—				—				(23	)			—				(23	)
Recoveries			—				—				—				6				1				8				—				15
Provisions			62				37				73				923				36				30				(86	)			1,075
Ending balance March 31, 2020		$	489			$	148			$	440			$	5,531			$	277			$	112			$	697			$	7,694
Ending balances:
Individually evaluated for impairment		$	—			$	—			$	—			$	5			$	—			$	—			$	—			$	5
Collectively evaluated for impairment			489				148				440				5,526				277				112				697				7,689
March 31, 2020 Loans receivable:
Ending balance-total		$	50,313			$	83,547			$	46,471			$	530,180			$	28,641			$	10,377			$	—			$	749,529
Ending balances:
Individually evaluated for impairment			—				—				340				2,966				68				—				—				3,374
Collectively evaluated for impairment		$	50,313			$	83,547			$	46,131			$	527,214			$	28,573			$	10,377			$	—			$	746,155

(Dollars in thousands)
										Real estate				Real estate				Consumer
						Real estate				Mortgage				Mortgage				Home				Consumer
		Commercial				Construction				Residential				Commercial				equity				Other				Unallocated				Total
March 31, 2019
Allowance for loan losses:
Beginning balance December 31, 2018		$	430			$	89			$	431			$	4,318			$	261			$	88			$	646			$	6,263
Charge-offs			(2	)			—				—				—				(1	)			(30	)			—				(33	)
Recoveries			—				—				—				10				—				9				—				19
Provisions			(10	)			7				(19	)			18				8				22				79				105
Ending balance March 31, 2019		$	418			$	96			$	412			$	4,346			$	268			$	89			$	725			$	6,354
Ending balances:
Individually evaluated for impairment		$	—			$	—			$	—			$	14			$	—			$	—			$	—			$	14
Collectively evaluated for impairment			418				96				412				4,332				268				89				725				6,340
March 31, 2019 Loans receivable:
Ending balance-total		$	52,289			$	56,234			$	50,732			$	519,420			$	30,092			$	9,653			$	—			$	718,420
Ending balances:
Individually evaluated for impairment			—				—				409				4,162				57				5				—				4,633
Collectively evaluated for impairment		$	52,289			$	56,234			$	50,323			$	515,258			$	30,035			$	9,648			$	—			$	713,787

(Dollars in thousands)
										Real estate				Real estate				Consumer
						Real estate				Mortgage				Mortgage				Home				Consumer
		Commercial				Construction				Residential				Commercial				equity				Other				Unallocated				Total
December 31, 2019
Allowance for loan losses:
Beginning balance December 31, 2018		$	430			$	89			$	431			$	4,318			$	261			$	88			$	646			$	6,263
Charge-offs			(12	)			—				(12	)			—				(1	)			(120	)			—				(145	)
Recoveries			3				—				—				307				15				45				—				370
Provisions			6				22				(52	)			(23)				(35	)			84				137				139
Ending balance December 31, 2019		$	427			$	111			$	367			$	4,602			$	240			$	97			$	783			$	6,627
Ending balances:
Individually evaluated for impairment		$	—			$	—			$	—			$	6			$	—			$	—			$	—			$	6
Collectively evaluated for impairment			427				111				367				4,596				240				97				783				6,621
December 31, 2019 Loans receivable:
Ending balance-total		$	51,805			$	73,512			$	45,357			$	527,447			$	28,891			$	10,016			$	—			$	737,028
Ending balances:
Individually evaluated for impairment			400				—				392				3,135				70				—				—				3,997
Collectively evaluated for impairment		$	51,405			$	73,512			$	44,965			$	524,312			$	28,821			$	10,016			$	—			$	733,031

Schedule of related party loan

Related party loans and lines of credit are made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons and generally do not involve more than the normal risk of collectability. The following table presents related party loan transactions for the three months ended March 31, 2020 and March 31, 2019:

(Dollars in thousands)		2020				2019
Beginning Balance December 31,		$	4,109			$	5,937
New Loans			55				—
Less loan repayments			437				85
Ending Balance March 31,		$	3,727			$	5,852

Schedule of loans individually evaluated and considered impaired

The following table presents at March 31, 2020 and December 31, 2019 loans individually evaluated and considered impaired under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 310 “Accounting by Creditors for Impairment of a Loan.” Impairment includes performing troubled debt restructurings (“TDRs”).

(Dollars in thousands)		March 31,				December 31,
		2020				2019
Total loans considered impaired		$	3,374			$	3,997
Loans considered impaired for which there is a related allowance for loan loss:
Outstanding loan balance		$	219			$	256
Related allowance		$	5			$	6
Loans considered impaired and previously written down to fair value		$	2,172			$	2,275
Average impaired loans		$	3,437			$	4,431
Amount of interest earned during period of impairment		$	82			$	263

Schedule of loan category and loans individually evaluated and considered impaired

The following tables are by loan category and present at March 31, 2020, March 31, 2019 and December 31, 2019, loans individually evaluated and considered impaired under FASB ASC 310 “Accounting by Creditors for Impairment of a Loan.” Impairment includes performing TDRs. 

(Dollars in thousands)														Three months ended
						Unpaid								Average				Interest
March 31, 2020		Recorded				Principal				Related				Recorded				Income
		Investment				Balance				Allowance				Investment				Recognized
With no allowance recorded:
Commercial		$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			340				431				—				339				6
Mortgage-commercial			2,747				5,161				—				2,797				72
Consumer:
Home Equity			68				72				—				69				1
Other			—				—				—				—				—
With an allowance recorded:
Commercial			—				—				—				—				—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			—				—				—				—				—
Mortgage-commercial			219				219				5				232				3
Consumer:
Home Equity			—				—				—				—				—
Other			—				—				—				—				—
Total:
Commercial			—				—				—				—				—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			340				431				—				339				6
Mortgage-commercial			2,966				5,380				5				3,029				75
Consumer:
Home Equity			68				72				—				69				1
Other			—				—				—				—				—
		$	3,374			$	5,883			$	5			$	3,437			$	82

(Dollars in thousands)														Three months ended
						Unpaid								Average				Interest
March 31, 2019		Recorded				Principal				Related				Recorded				Income
		Investment				Balance				Allowance				Investment				Recognized
With no allowance recorded:
Commercial		$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			409				462				—				413				4
Mortgage-commercial			3,715				6,708				—				4,048				61
Consumer:
Home Equity			57				59				—				59				1
Other			5				5				—				5				—
With an allowance recorded:
Commercial			—				—				—				—				—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			—				—				—				—				—
Mortgage-commercial			447				447				14				448				6
Consumer:
Home Equity			—				—				—				—				—
Other			—				—				—				—				—
Total:
Commercial			—				—				—				—				—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			409				462				—				413				4
Mortgage-commercial			4,162				7,155				14				4,496				67
Consumer:
Home Equity			57				59				—				59				1
Other			5				5				—				5				—
		$	4,633			$	7,681			$	14			$	4,973			$	72

(Dollars in thousands)
December 31, 2019						Unpaid								Average				Interest
		Recorded				Principal				Related				Recorded				Income
		Investment				Balance				Allowance				Investment				Recognized
With no allowance recorded:
Commercial		$	400			$	400			$	—			$	600			$	49
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			392				460				—				439				19
Mortgage-commercial			2,879				5,539				—				2,961				170
Consumer:
Home Equity			70				73				—				76				2
Other			—				—				—				—				—
With an allowance recorded:
Commercial			—				—				—				—				—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			—				—				—				—				—
Mortgage-commercial			256				256				6				355				23
Consumer:
Home Equity			—				—				—				—				—
Other			—				—				—				—				—
Total:
Commercial			400				400				—				600				49
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			392				460				—				439				19
Mortgage-commercial			3,135				5,795				6				3,316				193
Consumer:
Home Equity			70				73				—				76				2
Other			—				—				—				—				—
		$	3,997			$	6,728			$	6			$	4,431			$	263

Schedule of loan category and loan by risk categories

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered as pass rated loans. As of March 31, 2020 and December 31, 2019, and based on the most recent analysis performed, the risk category of loans by class of loans is shown in the table below. As of March 31, 2020 and December 31, 2019, no loans were classified as doubtful.

(Dollars in thousands)
March 31, 2020						Special
		Pass				Mention				Substandard				Doubtful				Total
Commercial, financial & agricultural		$	50,202			$	111			$	—			$	—			$	50,313
Real estate:
Construction			83,547				—				—				—				83,547
Mortgage – residential			45,301				285				885				—				46,471
Mortgage – commercial			524,525				2,396				3,259				—				530,180
Consumer:
Home Equity			27,192				1,127				322				—				28,641
Other			10,346				31				—				—				10,377
Total		$	741,113			$	3,950			$	4,466			$	—			$	749,529

(Dollars in thousands)
December 31, 2019						Special
		Pass				Mention				Substandard				Doubtful				Total
Commercial, financial & agricultural		$	51,166			$	239			$	400			$	—			$	51,805
Real estate:
Construction			73,512				—				—				—				73,512
Mortgage – residential			44,221				509				627				—				45,357
Mortgage – commercial			521,072				2,996				3,379				—				527,447
Consumer:
Home Equity			27,450				1,157				284				—				28,891
Other			9,981				35				—				—				10,016
Total		$	727,402			$	4,936			$	4,690			$	—			$	737,028

Schedule for changes in the accretable yield for PCI loans

A summary of changes in the accretable yield for purchased credit-impaired loans for the three months ended March 31, 2020 and March 31, 2019 follows:

(Dollars in thousands)		Three Months Ended March 31, 2020				Three Months Ended March 31, 2019
Accretable yield, beginning of period		$	123			$	153
Additions			—				—
Accretion			(7	)			(8	)
Reclassification of nonaccretable difference due to improvement in expected cash flows			—				—
Other changes, net			—				—
Accretable yield, end of period		$	116			$	145

Schedule of loan category and present loans past due and on non-accrual status

The following tables are by loan category and present loans past due and on non-accrual status as of March 31, 2020 and December 31, 2019:  

(Dollars in thousands)										Greater than
		30-59 Days				60-89 Days				90 Days and								Total
March 31, 2020		Past Due				Past Due				Accruing				Nonaccrual				Past Due				Current				Total Loans
Commercial		$	57			$	—			$	—			$	—			$	57			$	50,256			$	50,313
Real estate:
Construction			—				—				—				—				—				83,547				83,547
Mortgage-residential			181				—				168				340				689				45,782				46,471
Mortgage-commercial			294				—				—				1,330				1,624				528,556				530,180
Consumer:
Home equity			—				70				—				68				138				28,503				28,641
Other			66				3				—				—				69				10,308				10,377
		$	598			$	73			$	168			$	1,738			$	2,577			$	746,952			$	749,529

(Dollars in thousands)										Greater than
		30-59 Days				60-89 Days				90 Days and								Total
December 31, 2019		Past Due				Past Due				Accruing				Nonaccrual				Past Due				Current				Total Loans
Commercial		$	—			$	99			$	—			$	400			$	499			$	51,306			$	51,805
Real estate:
Construction			113				—				—				—				113				73,399				73,512
Mortgage-residential			151				—				—				392				543				44,814				45,357
Mortgage-commercial			39				—				—				1,467				1,506				525,941				527,447
Consumer:																			—
Home equity			2				9				—				70				81				28,810				28,891
Other			40				23				—				—				63				9,953				10,016
		$	345			$	131			$	—			$	2,329			$	2,805			$	734,223			$	737,028

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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

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