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Loans (Tables)

3 Months Ended

Mar. 31, 2021

Receivables [Abstract]

The following table summarizes the composition of our loan portfolio.

The following table summarizes the composition of our loan portfolio. Total loans are recorded net of deferred loan fees and costs, which totaled $3.4 million and $2.2 million as of March 31, 2021 and December 31, 2020, respectively.

Loans

		March 31,				December 31,
(Dollars in thousands)		2021				2020
Commercial, financial and agricultural		$	110,776			$	96,688
Real estate:
Construction			104,065				95,282
Mortgage-residential			38,947				43,928
Mortgage-commercial			582,083				573,258
Consumer:
Home equity			25,068				26,442
Other			8,127				8,559
Total loans, net of deferred loan fees and costs		$	869,066			$	844,157

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, 2021 and March 31, 2020 and for the year ended December 31, 2020 is as follows:

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, 2021 and March 31, 2020 and for the year ended December 31, 2020 is as follows:

Loans (Details 2)

										Real estate				Real estate				Consumer
						Real estate				Mortgage				Mortgage				Home				Consumer
(Dollars in thousands)		Commercial				Construction				Residential				Commercial				equity				Other				Unallocated				Total
March 31, 2021
Allowance for loan losses:
Beginning balance December 31, 2020		$	778			$	145			$	541			$	7,855			$	324			$	125			$	621			$	10,389
Charge-offs			—				—				—				—				—				(25	)			—				(25	)
Recoveries			1				—				—				4				1				16				—				22
Provisions			(21	)			(11	)			(61	)			278				(16	)			8				—				177
Ending balance March 31, 2021		$	758			$	134			$	480			$	8,137			$	309			$	124			$	621			$	10,563
Ending balances:
Individually evaluated for impairment		$	—			$	—			$	—			$	2			$	—			$	—			$	—			$	2
Collectively evaluated for impairment			758				134				480				8,135				309				124				621				10,561
March 31, 2021 Loans receivable:
Ending balance-total		$	110,776			$	104,065			$	38,947			$	582,083			$	25,068			$	8,127			$	—			$	869,066
Ending balances:
Individually evaluated for impairment			—				—				436				5,578				21				—				—				6,035
Collectively evaluated for impairment		$	110,776			$	104,065			$	38,511			$	576,505			$	25,047			$	8,127			$	—			$	863,031

The following table presents at March 31, 2021 and December 31, 2020 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”).

The following table presents at March 31, 2021 and December 31, 2020 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 3)

		March 31,				December 31,
(Dollars in thousands)		2021				2020
Total loans considered impaired		$	6,035			$	6,113
Loans considered impaired for which there is a related allowance for loan loss:
Outstanding loan balance		$	104			$	123
Related allowance		$	2			$	2
Average impaired loans		$	6,286			$	6,375
Amount of interest earned during period of impairment		$	107			$	403

The following tables as of March 31, 2021, March 31, 2020, and December 31, 2020, are by loan category and present loans individually evaluated and considered impaired under FASB ASC 310 “Accounting by Creditors for Impairment of a Loan.” Impairment includes performing TDRs.

The following tables as of March 31, 2021, March 31, 2020, and December 31, 2020, are by loan category and present loans individually evaluated and considered impaired under FASB ASC 310 “Accounting by Creditors for Impairment of a Loan.” Impairment includes performing TDRs.

Loans (Details 4)

														Three months ended
						Unpaid								Average				Interest
(Dollars in thousands)		Recorded				Principal				Related				Recorded				Income
March 31, 2021		Investment				Balance				Allowance				Investment				Recognized
With no allowance recorded:
Commercial		$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			436				496				—				434				5
Mortgage-commercial			5,474				8,129				—				5,728				99
Consumer:
Home Equity			21				26				—				21				1
Other			—				—				—				—				—
With an allowance recorded:
Commercial			—				—				—				—				—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			—				—				—				—				—
Mortgage-commercial			104				104				2				103				2
Consumer:
Home Equity			—				—				—				—				—
Other			—				—				—				—				—
Total:
Commercial			—				—				—				—				—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			436				496				—				434				5
Mortgage-commercial			5,578				8,233				2				5,831				101
Consumer:
Home Equity			21				26				—				21				1
Other			—				—				—				—				—
		$	6,035			$	8,755			$	2			$	6,286			$	107

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered as pass rated loans. 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, 2021 and December 31, 2020. As of March 31, 2021 and December 31, 2020, no loans were classified as doubtful.

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered as pass rated loans. 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, 2021 and December 31, 2020. As of March 31, 2021 and December 31, 2020, no loans were classified as doubtful.

Loans (Details 5)

(Dollars in thousands)						Special
March 31, 2021		Pass				Mention				Substandard				Doubtful				Total
Commercial, financial & agricultural		$	110,603			$	173			$	—			$	—			$	110,776
Real estate:
Construction			104,065				—				—				—				104,065
Mortgage – residential			38,327				163				457				—				38,947
Mortgage – commercial			568,688				2,931				10,464				—				582,083
Consumer:
Home Equity			23,627				240				1,201				—				25,068
Other			8,113				—				14				—				8,127
Total		$	853,423			$	3,507			$	12,136			$	—			$	869,066
(Dollars in thousands)						Special
December 31, 2020		Pass				Mention				Substandard				Doubtful				Total
Commercial, financial & agricultural		$	96,507			$	181			$	—			$	—			$	96,688
Real estate:
Construction			95,282				—				—				—				95,282
Mortgage – residential			43,240				190				498				—				43,928
Mortgage – commercial			559,982				7,270				6,006				—				573,258
Consumer:
Home Equity			25,041				95				1,306				—				26,442
Other			8,538				21				—				—				8,559
Total		$	828,590			$	7,757			$	7,810			$	—			$	844,157

Loans greater than 90 days delinquent and still accruing interest were $0

Loans greater than 90 days delinquent and still accruing interest were $0 and $1.3 million at March 31, 2021 and December 31, 2020, respectively. The following tables are by loan category and present loans past due and on non-accrual status as of March 31, 2021 and December 31, 2020:  

Loans (Details 6)

										Greater than
(Dollars in thousands)		30-59 Days				60-89 Days				90 Days and								Total
March 31, 2021		Past Due				Past Due				Accruing				Nonaccrual				Past Due				Current				Total Loans
Commercial		$	116			$	8			$	—			$	4,063			$	4,187			$	106,589			$	110,776
Real estate:
Construction			—				—				—				—				—				104,065				104,065
Mortgage-residential			—				7				—				436				443				38,504				38,947
Mortgage-commercial			—				—				—				—				—				582,083				582,083
Consumer:
Home equity			75				84				—				22				181				24,887				25,068
Other			26				1				—				—				27				8,100				8,127
		$	217			$	100			$	—			$	4,521			$	4,838			$	864,228			$	869,066

A summary of changes in the accretable yield for purchased credit-impaired loans for the three months ended March 31, 2021 and March 31, 2020 are as follows:

A summary of changes in the accretable yield for purchased credit-impaired loans for the three months ended March 31, 2021 and March 31, 2020 are as follows:

Loans (Details 7)

(Dollars in thousands)		Three Months Ended March 31, 2021				Three Months Ended March 31, 2020
Accretable yield, beginning of period		$	93			$	123
Accretion			(7	)			(7	)
Accretable yield, end of period		$	86			$	116

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, 2021 and March 31, 2020:

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, 2021 and March 31, 2020:

Loans (Details 8)

(Dollars in thousands)		2021				2020
Beginning Balance December 31,		$	3,297			$	4,109
New Loans			2				55
Less loan repayments			66				437
Ending Balance March 31,		$	3,233			$	3,727

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