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Loans (Tables)

6 Months Ended

Jun. 30, 2020

Receivables [Abstract]

Loans summarized by category

Loans summarized by category as of June 30, 2020, December 31, 2019 and June 30, 2019 are as follows:

Loans

		June 30,				December 31,				June 30,
(Dollars in thousands)		2020				2019				2019
Commercial, financial and agricultural		$	107,184			$	51,805			$	52,641
Real estate:
Construction			82,584				73,512				61,284
Mortgage-residential			45,424				45,357				49,927
Mortgage-commercial			544,670				527,447				524,348
Consumer:
Home equity			27,156				28,891				28,465
Other			10,354				10,016				10,042
Total		$	817,372			$	737,028			$	726,707

The detailed 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 and six months ended June 30, 2020 and June 30, 2019 and for the year ended December 31, 2019 is as follows:

Loans (Details 2)

(Dollars in thousands)
										Real estate				Real estate				Consumer
						Real estate				Mortgage				Mortgage				Home				Consumer
		Commercial				Construction				Residential				Commercial				equity				Other				Unallocated				Total
Three months ended June 30, 2020
Allowance for loan losses:
Beginning balance March 31, 2020		$	489			$	148			$	440			$	5,531			$	277			$	112			$	697			$	7,694
Charge-offs			—				—				—				—				—				(25	)			—				(25	)
Recoveries			3				—				—				3				—				11				—				17
Provisions			277				17				57				935				16				34				(86	)			1,250
Ending balance June 30, 2020		$	769			$	165			$	497			$	6,469			$	293			$	132			$	611			$	8,936

related party loan transactions

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 six months ended June 30, 2020 and June 30, 2019:

Loans (Details 3)

(Dollars in thousands)		2020				2019
Beginning Balance January 1		$	4,109			$	5,937
New Loans			55				106
Less loan repayments			585				1,668
Ending Balance June 30		$	3,579			$	4,375

loans individually evaluated and considered impaired

The following table presents at June 30, 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”).

Loans (Details 4)

(Dollars in thousands)		June 30,				December 31,
		2020				2019
Total loans considered impaired		$	3,419			$	3,997
Loans considered impaired for which there is a related allowance for loan loss:
Outstanding loan balance		$	193			$	256
Related allowance		$	4			$	6
Loans considered impaired and previously written down to fair value		$	2,176			$	2,275
Average impaired loans		$	3,731			$	4,431
Amount of interest earned during period of impairment		$	85			$	263

loan category

The following tables are by loan category and present at June 30, 2020, June 30, 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. 

Loans (Details 5)

(Dollars in thousands)														Six months ended								Three months ended
						Unpaid								Average				Interest				Average				Interest
June 30, 2020		Recorded				Principal				Related				Recorded				income				Recorded				Income
		Investment				Balance				Allowance				Investment				Recognized				Investment				Recognized
With no allowance recorded:
Commercial, financial, agricultural		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			333				425				—				337				10				331				7
Mortgage-commercial			2,827				5,567				—				3,189				147				3,141				74
Consumer:
Home equity			66				70				—				68				2				66				1
Other			—				—				—				—				—				—				—
With an allowance recorded:
Commercial, financial, agricultural			—				—				—				—				—				—				—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			—				—				—				—				—				—				—
Mortgage-commercial			193				193				4				216				6				193				3
Consumer:
Home equity			—				—				—				—				—				—				—
Other			—				—				—				—				—				—				—
Total:
Commercial, financial, agricultural		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			333				425				—				337				10				331				7
Mortgage-commercial			3,020				5,760				4				3,405				153				3,334				77
Consumer:
Home equity			66				70				—				68				2				66				1
Other			—				—				—				—				—				—				—
		$	3,419				6,255			$	4			$	3,810			$	165			$	3,731			$	85

loans by class of loans

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 June 30, 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 June 30, 2020 and December 31, 2019, no loans were classified as doubtful.

Loans (Details 6)

(Dollars in thousands)
June 30, 2020						Special
		Pass				Mention				Substandard				Doubtful				Total
Commercial, financial & agricultural		$	107,024			$	160			$	—			$	—			$	107,184
Real estate:
Construction			82,584				—				—				—				82,584
Mortgage – residential			44,595				202				627				—				45,424
Mortgage – commercial			538,978				2,357				3,335				—				544,670
Consumer:
Home Equity			25,716				102				1,338				—				27,156
Other			10,327				27				—				—				10,354
Total		$	809,224			$	2,848			$	5,300			$	—			$	817,372
(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

summary of changes in the accretable yield for purchased credit-impaired loans

A summary of changes in the accretable yield for purchased credit-impaired loans for the three months ended June 30, 2020 and June 30, 2019 follows:

Loans (Details 7)

(Dollars in thousands)		Three Months Ended June 30, 2020				Three Months Ended June 30, 2019
Accretable yield, beginning of period		$	116			$	145
Additions			—				—
Accretion			(7	)			(7	)
Reclassification of nonaccretable difference due to improvement in expected cash flows			—				—
Other changes, net			—				—
Accretable yield, end of period		$	109			$	138

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 June 30, 2020 and December 31, 2019: 

Loans (Details 8)

(Dollars in thousands)										Greater than
		30-59 Days				60-89 Days				90 Days and								Total
June 30, 2020		Past Due				Past Due				Accruing				Nonaccrual				Past Due				Current				Total Loans
Commercial		$	26			$	—			$	—			$	—			$	26			$	107,158			$	107,184
Real estate:
Construction			—				—				—				—				—				82,584				82,584
Mortgage-residential			2				9				—				333				344				45,080				45,424
Mortgage-commercial			226				13				—				1,407				1,646				543,024				544,670
Consumer:
Home equity			—				—				—				66				66				27,090				27,156
Other			33				2				—				—				35				10,319				10,354
		$	287			$	24			$	—			$	1,806			$	2,117			$	815,255			$	817,372
(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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