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Loans (Tables)

9 Months Ended

Sep. 30, 2020

Receivables [Abstract]

Loans summarized by category

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

Loans

		September 30,				December 31,				September 30,
(Dollars in thousands)		2020				2019				2019
Commercial, financial and agricultural		$	108,006			$	51,805			$	55,169
Real estate:
Construction			89,250				73,512				58,737
Mortgage-residential			49,215				45,357				47,693
Mortgage-commercial			561,932				527,447				534,554
Consumer:
Home equity			27,618				28,891				29,103
Other			8,439				10,016				9,818
Total		$	844,460			$	737,028			$	735,074

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 nine months ended September 30, 2020 and September 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 September 30, 2020
Allowance for loan losses:
Beginning balance June 30, 2020		$	769			$	165			$	497			$	6,469			$	293			$	132			$	611			$	8,936
Charge-offs			—				(2	)			—				(1	)			—				(22	)			—				(25	)
Recoveries			118				2				—				4				1				15				—				140
Provision for loan losses			(59	)			12				96				982				36				(2	)			(3	)			1,062
Ending balance September 30, 2020		$	828			$	177			$	593			$	7,454			$	330			$	123			$	608			$	10,113

The following table presents 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 nine months ended September 30, 2020 and September 30, 2019:

Loans (Details 3)

(Dollars in thousands)		2020				2019
Beginning Balance January 1		$	4,109			$	5,937
New Loans			86				111
Less loan repayments			775				1,804
Ending Balance September 30		$	3,420			$	4,244

loans individually evaluated and considered impaired

The following table presents at September 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”).

Note 4—Loans-continued

Loans (Details 4)

(Dollars in thousands)		September 30,				December 31,
		2020				2019
Total loans considered impaired		$	3,224			$	3,997
Loans considered impaired for which there is a related allowance for loan loss:
Outstanding loan balance		$	144			$	256
Related allowance		$	3			$	6
Loans considered impaired and previously written down to fair value		$	2,426			$	2,275
Average impaired loans		$	3,524			$	4,431
Amount of interest earned during period of impairment		$	85			$	263

loan category

The following tables are by loan category and present at September 30, 2020, September 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)														Nine months ended								Three months ended
						Unpaid								Average				Interest				Average				Interest
September 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			327				405				—				337				11				323				9
Mortgage-commercial			2,706				5,450				—				3,071				217				3,013				73
Consumer:
Home equity			47				51				—				50				2				46				1
Other			—				—				—				—				—				—				—
With an allowance recorded:
Commercial, financial, agricultural			—				—				—				—				—				—				—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			—				—				—				—				—				—				—
Mortgage-commercial			144				144				3				200				9				142				2
Consumer:
Home equity			—				—				—				—				—				—				—
Other			—				—				—				—				—				—				—
Total:
Commercial, financial, agricultural		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			327				405				—				337				11				323				9
Mortgage-commercial			2,850				5,594				3				3,271				226				3,155				75
Consumer:
Home equity			47				51				—				50				2				46				1
Other			—				—				—				—				—				—				—
		$	3,224				6,050			$	3			$	3,658			$	239			$	3,524			$	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 September 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 September 30, 2020 and December 31, 2019, no loans were classified as doubtful.

Loans (Details 6)

(Dollars in thousands)
September 30, 2020						Special
		Pass				Mention				Substandard				Doubtful				Total
Commercial, financial & agricultural		$	107,813			$	193			$	—			$	—			$	108,006
Real estate:
Construction			89,250				—				—				—				89,250
Mortgage – residential			48,448				197				570				—				49,215
Mortgage – commercial			554,270				4,466				3,196				—				561,932
Consumer:
Home Equity			26,204				98				1,316				—				27,618
Other			8,416				23				—				—				8,439
Total		$	834,401			$	4,977			$	5,082			$	—			$	844,460
(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 and nine months ended September 30, 2020 and September 30, 2019 follows:

Loans (Details 7)

(Dollars in thousands)		Three Months Ended September 30, 2020				Three Months Ended September 30, 2019
Accretable yield, beginning of period		$	108			$	138
Additions			—				—
Accretion			(7	)			(8	)
Reclassification of nonaccretable difference due to improvement in expected cash flows			—				—
Other changes, net			—				—
Accretable yield, end of period		$	101			$	130

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 September 30, 2020 and December 31, 2019: 

Loans (Details 8)

(Dollars in thousands)										Greater than
		30-59 Days				60-89 Days				90 Days and								Total
September 30, 2020		Past Due				Past Due				Accruing				Nonaccrual				Past Due				Current				Total Loans
Commercial		$	19			$	—			$	—			$	1,282			$	1,301			$	106,705			$	108,006
Real estate:
Construction			158				—				—				—				158				89,092				89,250
Mortgage-residential			12				412				34				327				785				48,430				49,215
Mortgage-commercial			—				—				—				—				—				561,932				561,932
Consumer:
Home equity			10				—				—				47				57				27,561				27,618
Other			27				—				—				—				27				8,412				8,439
		$	226			$	412			$	34			$	1,656			$	2,328			$	842,132			$	844,460
(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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