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Loans | 9 Months Ended
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Sep. 30, 2022
Receivables [Abstract] |
Loans | Note 4—Loans The following table summarizes the composition of our loan portfolio. Total loans are recorded net of deferred loan fees and costs, which totaled $1.8 million and $1.4 million as of September 30, 2022 and December 31, 2021, respectively. Schedule of Loan Portfolio
|  | September 30, |  |  | December 31, |
(Dollars in thousands) |  | 2022 |  |  | 2021 |
Commercial, financial and agricultural |  | $ | 70,712 |  |  | $ | 69,952 |
Real estate: |  |  |  |  |  |  |  |
Construction |  |  | 84,355 |  |  |  | 94,969 |
Mortgage-residential |  |  | 53,553 |  |  |  | 45,498 |
Mortgage-commercial |  |  | 698,416 |  |  |  | 617,464 |
Consumer: |  |  |  |  |  |  |  |
Home equity |  |  | 28,800 |  |  |  | 27,116 |
Other |  |  | 14,374 |  |  |  | 8,703 |
Total loans, net of deferred loan fees and costs |  | $ | 950,210 |  |  | $ | 863,702 |
Commercial, financial, and agricultural category includes $0.2 million and $1.5 million in PPP loans, net of deferred fees and costs, as of September 30, 2022 and December 31, 2021, respectively. 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, 2022 and September 30, 2021 and for the year ended December 31, 2021 is as follows: Schedule of activity in the allowance for loan losses and the recorded investment in loans receivable
(Dollars in thousands) |  | Commercial |  |  | Real estate Construction |  |  | Real estate Mortgage Residential |  |  | Real estate Mortgage Commercial |  |  | Consumer Home equity |  |  | Consumer Other |  |  | Unallocated |  |  | Total |
Three months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance June 30, 2022 |  | $ | 817 |  |  | $ | 84 |  |  | $ | 546 |  |  | $ | 8,639 |  |  | $ | 315 |  |  | $ | 202 |  |  | $ | 617 |  |  | $ | 11,220 |
Charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | (13 | ) |  |  | — |  |  |  | (14 | )
Recoveries |  |  | 5 |  |  |  | — |  |  |  | 4 |  |  |  | 75 |  |  |  | 3 |  |  |  | 4 |  |  |  | — |  |  |  | 91 |
Provisions |  |  | (19 | ) |  |  | (16 | ) |  |  | 57 |  |  |  | (12 | ) |  |  | 4 |  |  |  | (8 | ) |  |  | 12 |  |  |  | 18 |
Ending balance September 30, 2022 |  | $ | 803 |  |  | $ | 68 |  |  | $ | 607 |  |  | $ | 8,702 |  |  | $ | 321 |  |  | $ | 185 |  |  | $ | 629 |  |  | $ | 11,315 |
|  |  |  |  |  |  |  | Real estate |  |  | Real estate |  |  | Consumer |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Real estate |  |  | Mortgage |  |  | Mortgage |  |  | Home |  |  | Consumer |  |  |  |  |  |  |
(Dollars in thousands) |  | Commercial |  |  | Construction |  |  | Residential |  |  | Commercial |  |  | equity |  |  | Other |  |  | Unallocated |  |  | Total |
Nine months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance December 31, 2021 |  | $ | 853 |  |  | $ | 113 |  |  | $ | 560 |  |  | $ | 8,570 |  |  | $ | 333 |  |  | $ | 126 |  |  | $ | 624 |  |  | $ | 11,179 |
Charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | (46 | ) |  |  | — |  |  |  | (47 | )
Recoveries |  |  | 16 |  |  |  | — |  |  |  | 5 |  |  |  | 318 |  |  |  | 10 |  |  |  | 11 |  |  |  | — |  |  |  | 360 |
Provisions |  |  | (66 | ) |  |  | (45 | ) |  |  | 42 |  |  |  | (186 | ) |  |  | (21 | ) |  |  | 94 |  |  |  | 5 |  |  |  | (177 | )
Ending balance September 30, 2022 |  | $ | 803 |  |  | $ | 68 |  |  | $ | 607 |  |  | $ | 8,702 |  |  | $ | 321 |  |  | $ | 185 |  |  | $ | 629 |  |  | $ | 11,315 |
Ending balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Collectively evaluated for impairment |  |  | 803 |  |  | $ | 68 |  |  | $ | 607 |  |  | $ | 8,702 |  |  | $ | 321 |  |  | $ | 185 |  |  | $ | 629 |  |  | $ | 11,315 |
September 30, 2022 Loans receivable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance-total |  | $ | 70,712 |  |  | $ | 84,355 |  |  | $ | 53,553 |  |  | $ | 698,416 |  |  | $ | 28,800 |  |  | $ | 14,374 |  |  | $ | — |  |  | $ | 950,210 |
Ending balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  |  | — |  |  |  | — |  |  |  | 39 |  |  |  | 4,759 |  |  |  | 168 |  |  |  | — |  |  |  | — |  |  |  | 4,966 |
Collectively evaluated for impairment |  | $ | 70,712 |  |  | $ | 84,355 |  |  | $ | 53,514 |  |  | $ | 693,657 |  |  | $ | 28,632 |  |  | $ | 14,374 |  |  | $ | — |  |  | $ | 945,244 |
(Dollars in thousands) |  | Commercial |  |  | Real estate Construction |  |  | Real estate Mortgage Residential |  |  | Real estate Mortgage Commercial |  |  | Consumer Home equity |  |  | Consumer Other |  |  | Unallocated |  |  | Total |
Three months ended September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance June 31, 2021 |  | $ | 894 |  |  | $ | 125 |  |  | $ | 542 |  |  | $ | 8,026 |  |  | $ | 322 |  |  | $ | 111 |  |  | $ | 618 |  |  | $ | 10,638 |
Charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (21 | ) |  |  | — |  |  |  | (21 | )
Recoveries |  |  | 22 |  |  |  | — |  |  |  | — |  |  |  | 304 |  |  |  | 28 |  |  |  | 5 |  |  |  | — |  |  |  | 359 |
Provisions |  |  | (31 | ) |  |  | (29 | ) |  |  | (1 | ) |  |  | 106 |  |  |  | (24 | ) |  |  | 23 |  |  |  | 5 |  |  |  | 49 |
Ending balance September 30, 2021 |  | $ | 885 |  |  | $ | 96 |  |  | $ | 541 |  |  | $ | 8,436 |  |  | $ | 326 |  |  | $ | 118 |  |  | $ | 623 |  |  | $ | 11,025 |
|  |  |  |  |  |  |  | Real estate |  |  | Real estate |  |  | Consumer |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Real estate |  |  | Mortgage |  |  | Mortgage |  |  | Home |  |  | Consumer |  |  |  |  |  |  |
(Dollars in thousands) |  | Commercial |  |  | Construction |  |  | Residential |  |  | Commercial |  |  | equity |  |  | Other |  |  | Unallocated |  |  | Total |
Nine months ended September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance December 31, 2020 |  | $ | 778 |  |  | $ | 145 |  |  | $ | 541 |  |  | $ | 7,855 |  |  | $ | 324 |  |  | $ | 125 |  |  | $ | 621 |  |  | $ | 10,389 |
Charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (110 | ) |  |  | — |  |  |  | (57 | ) |  |  | — |  |  |  | (167 | )
Recoveries |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | 315 |  |  |  | 34 |  |  |  | 35 |  |  |  | — |  |  |  | 409 |
Provisions |  |  | 82 |  |  |  | (49 | ) |  |  | — |  |  |  | 376 |  |  |  | (32 | ) |  |  | 15 |  |  |  | 2 |  |  |  | 394 |
Ending balance September 30, 2021 |  | $ | 885 |  |  | $ | 96 |  |  | $ | 541 |  |  | $ | 8,436 |  |  | $ | 326 |  |  | $ | 118 |  |  | $ | 623 |  |  | $ | 11,025 |
Ending balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Collectively evaluated for impairment |  |  | 885 |  |  | $ | 96 |  |  | $ | 541 |  |  | $ | 8,435 |  |  | $ | 326 |  |  | $ | 118 |  |  | $ | 623 |  |  | $ | 11,024 |
September 30, 2021 Loans receivable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance-total |  | $ | 80,796 |  |  | $ | 100,061 |  |  | $ | 44,987 |  |  | $ | 620,130 |  |  | $ | 27,233 |  |  | $ | 8,313 |  |  | $ | — |  |  | $ | 881,520 |
Ending balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  |  | — |  |  |  | — |  |  |  | 207 |  |  |  | 1,605 |  |  |  | 20 |  |  |  | — |  |  |  | — |  |  |  | 1,832 |
Collectively evaluated for impairment |  | $ | 80,796 |  |  | $ | 100,061 |  |  | $ | 44,780 |  |  | $ | 618,525 |  |  | $ | 27,213 |  |  | $ | 8,313 |  |  | $ | — |  |  | $ | 879,688 |
(Dollars in thousands) |  | Commercial |  |  | Real estate Construction |  |  | Real estate Mortgage Residential |  |  | Real estate Mortgage Commercial |  |  | Consumer Home equity |  |  | Consumer Other |  |  | Unallocated |  |  | Total |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance December 31, 2020 |  | $ | 778 |  |  | $ | 145 |  |  | $ | 541 |  |  | $ | 7,855 |  |  | $ | 324 |  |  | $ | 125 |  |  | $ | 621 |  |  | $ | 10,389 |
Charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (110 | ) |  |  | — |  |  |  | (72 | ) |  |  | — |  |  |  | (182 | )
Recoveries |  |  | 39 |  |  |  | — |  |  |  | 10 |  |  |  | 473 |  |  |  | 69 |  |  |  | 46 |  |  |  | — |  |  |  | 637 |
Provisions |  |  | 36 |  |  |  | (32 | ) |  |  | 9 |  |  |  | 352 |  |  |  | (60 | ) |  |  | 27 |  |  |  | 3 |  |  |  | 335 |
Ending balance December 31, 2021 |  | $ | 853 |  |  | $ | 113 |  |  | $ | 560 |  |  | $ | 8,570 |  |  | $ | 333 |  |  | $ | 126 |  |  | $ | 624 |  |  | $ | 11,179 |
Ending balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Collectively evaluated for impairment |  |  | 853 |  |  |  | 113 |  |  |  | 560 |  |  |  | 8,569 |  |  |  | 333 |  |  |  | 126 |  |  |  | 624 |  |  |  | 11,179 |
December 31, 2021 Loans receivable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance-total |  | $ | 69,952 |  |  | $ | 94,969 |  |  | $ | 45,498 |  |  | $ | 617,464 |  |  | $ | 27,116 |  |  | $ | 8,703 |  |  | $ | — |  |  | $ | 863,702 |
Ending balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  |  | — |  |  |  | — |  |  |  | 133 |  |  |  | 1,561 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,694 |
Collectively evaluated for impairment |  |  | 69,952 |  |  |  | 94,969 |  |  |  | 45,365 |  |  |  | 615,903 |  |  |  | 27,116 |  |  |  | 8,703 |  |  |  | — |  |  |  | 862,008 |
Current Expected Credit Loss (CECL) The Company is currently (i) evaluating the impact the CECL model will have on its accounting, (ii) planning for the transition, and (iii) expect to recognize a one-time cumulative-effect adjustment to the allowance for loan losses as of the beginning of the first quarter of 2023—the first reporting period in which the new standard is effective. At this time, the Company cannot yet reasonably determine the magnitude of such one-time cumulative adjustment, if any, or of the overall impact of the new standard on the Company’s business, financial condition or results of operations. The following tables are by loan category and present September 30, 2022, September 30, 2021, and December 31, 2021 loans individually evaluated and considered impaired under FASB ASC 310 “Accounting by Creditors for Impairment of a Loan.” Impairment includes performing TDRs. Schedule of loan category and loans individually evaluated and considered impaired
|  |  |  |  |  |  |  |  |  |  | Nine months ended |  |  | Three months ended |
|  |  |  |  | Unpaid |  |  |  |  |  | Average |  |  | Interest |  |  | Average |  |  | Interest |
(Dollars in thousands) |  | Recorded |  |  | Principal |  |  | Related |  |  | Recorded |  |  | Income |  |  | Recorded |  |  | Income |
September 30, 2022 |  | Investment |  |  | Balance |  |  | Allowance |  |  | Investment |  |  | Recognized |  |  | Investment |  |  | Recognized |
With no allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-residential |  |  | 39 |  |  |  | 55 |  |  |  | — |  |  |  | 45 |  |  |  | 2 |  |  |  | 39 |  |  |  | 1 |
Mortgage-commercial |  |  | 4,759 |  |  |  | 8,955 |  |  |  | — |  |  |  | 4,795 |  |  |  | 347 |  |  |  | 4,747 |  |  |  | 117 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | 168 |  |  |  | 168 |  |  |  | — |  |  |  | 169 |  |  |  | 6 |  |  |  | 168 |  |  |  | 2 |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-commercial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-residential |  |  | 39 |  |  |  | 55 |  |  |  | — |  |  |  | 45 |  |  |  | 2 |  |  |  | 39 |  |  |  | 1 |
Mortgage-commercial |  |  | 4,759 |  |  |  | 8,955 |  |  |  | — |  |  |  | 4,795 |  |  |  | 347 |  |  |  | 4,747 |  |  |  | 117 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | 168 |  |  |  | 168 |  |  |  | — |  |  |  | 169 |  |  |  | 6 |  |  |  | 168 |  |  |  | 2 |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 4,966 |  |  |  | 9,178 |  |  | $ | — |  |  | $ | 5,009 |  |  | $ | 355 |  |  | $ | 4,954 |  |  | $ | 120 |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  | Nine months ended |  |  | Three months ended |
|  |  |  |  | Unpaid |  |  |  |  |  | Average |  |  | Interest |  |  | Average |  |  | Interest |
|  | Recorded |  |  | Principal |  |  | Related |  |  | Recorded |  |  | income |  |  | Recorded |  |  | Income |
September 30, 2021 |  | Investment |  |  | Balance |  |  | Allowance |  |  | Investment |  |  | Recognized |  |  | Investment |  |  | Recognized |
With no allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-residential |  |  | 207 |  |  |  | 259 |  |  |  | — |  |  |  | 196 |  |  |  | 8 |  |  |  | 133 |  |  |  | 3 |
Mortgage-commercial |  |  | 1,538 |  |  |  | 3,869 |  |  |  | — |  |  |  | 2,239 |  |  |  | 183 |  |  |  | 1,772 |  |  |  | 57 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | 20 |  |  |  | 25 |  |  |  | — |  |  |  | 21 |  |  |  | 1 |  |  |  | 19 |  |  |  | — |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-commercial |  |  | 67 |  |  |  | 67 |  |  |  | 1 |  |  |  | 104 |  |  |  | 5 |  |  |  | 67 |  |  |  | 1 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-residential |  |  | 207 |  |  |  | 259 |  |  |  | — |  |  |  | 196 |  |  |  | 8 |  |  |  | 133 |  |  |  | 3 |
Mortgage-commercial |  |  | 1,605 |  |  |  | 3,936 |  |  |  | 1 |  |  |  | 2,343 |  |  |  | 188 |  |  |  | 1,839 |  |  |  | 58 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | 20 |  |  |  | 25 |  |  |  | — |  |  |  | 21 |  |  |  | 1 |  |  |  | 19 |  |  |  | — |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 1,832 |  |  |  | 4,220 |  |  | $ | 1 |  |  | $ | 2,560 |  |  | $ | 197 |  |  | $ | 1,991 |  |  | $ | 61 |
|  |  |  |  | Unpaid |  |  |  |  |  | Average |  |  | Interest |
(Dollars in thousands) |  | Recorded |  |  | Principal |  |  | Related |  |  | Recorded |  |  | Income |
December 31, 2021 |  | Investment |  |  | Balance |  |  | Allowance |  |  | Investment |  |  | Recognized |
With no allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-residential |  |  | 133 |  |  |  | 151 |  |  |  | — |  |  |  | 131 |  |  |  | 6 |
Mortgage-commercial |  |  | 1,521 |  |  |  | 3,514 |  |  |  | — |  |  |  | 1,748 |  |  |  | 223 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home Equity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-commercial |  |  | 40 |  |  |  | 40 |  |  |  | 1 |  |  |  | 39 |  |  |  | 5 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home Equity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Mortgage-residential |  |  | 133 |  |  |  | 151 |  |  |  | — |  |  |  | 131 |  |  |  | 6 |
Mortgage-commercial |  |  | 1,561 |  |  |  | 3,554 |  |  |  | 1 |  |  |  | 1,787 |  |  |  | 228 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home Equity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 1,694 |  |  | $ | 3,705 |  |  | $ | 1 |  |  | $ | 1,918 |  |  | $ | 234 |
The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, including current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a monthly basis. The Company uses the following definitions for risk ratings: Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Special mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. 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 September 30, 2022 and December 31, 2021. As of September 30, 2022 and December 31, 2021, no loans were classified as doubtful. Schedule of loan category and loan by risk categories
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2022 |  | Pass |  |  | Special Mention |  |  | Substandard |  |  | Doubtful |  |  | Total |
Commercial, financial & agricultural |  | $ | 70,663 |  |  | $ | 49 |  |  | $ | — |  |  | $ | — |  |  | $ | 70,712 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | 84,355 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 84,355 |
Mortgage – residential |  |  | 53,282 |  |  |  | 230 |  |  |  | 41 |  |  |  | — |  |  |  | 53,553 |
Mortgage – commercial |  |  | 693,189 |  |  |  | 83 |  |  |  | 5,144 |  |  |  | — |  |  |  | 698,416 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home Equity |  |  | 27,470 |  |  |  | 140 |  |  |  | 1,190 |  |  |  | — |  |  |  | 28,800 |
Other |  |  | 14,116 |  |  |  | 94 |  |  |  | 164 |  |  |  | — |  |  |  | 14,374 |
Total |  | $ | 943,075 |  |  | $ | 596 |  |  | $ | 6,539 |  |  | $ | — |  |  | $ | 950,210 |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2021 |  | Pass |  |  | Special Mention |  |  | Substandard |  |  | Doubtful |  |  | Total |
Commercial, financial & agricultural |  | $ | 69,833 |  |  | $ | 119 |  |  | $ | — |  |  | $ | — |  |  | $ | 69,952 |
Real estate: |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Construction |  |  | 94,966 |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | 94,969 |
Mortgage – residential |  |  | 45,049 |  |  |  | 305 |  |  |  | 144 |  |  |  | — |  |  |  | 45,498 |
Mortgage – commercial |  |  | 610,001 |  |  |  | 1,009 |  |  |  | 6,454 |  |  |  | — |  |  |  | 617,464 |
Consumer: |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Home Equity |  |  | 25,751 |  |  |  | 171 |  |  |  | 1,194 |  |  |  | — |  |  |  | 27,116 |
Other |  |  | 8,604 |  |  |  | 22 |  |  |  | 77 |  |  |  | — |  |  |  | 8,703 |
Total |  | $ | 854,204 |  |  | $ | 1,626 |  |  | $ | 7,872 |  |  | $ | — |  |  | $ | 863,702 |
At September 30, 2022 and December 31, 2021, non-accrual loans totaled $4.9 million and $250 thousand, respectively. TDRs that are still accruing and included in impaired loans at September 30, 2022 and at December 31, 2021 amounted to $90.6 thousand and $1.4 million, respectively. Loans greater than 90 days delinquent and still accruing interest were $30.3 thousand and $0 at September 30, 2022 and December 31, 2021, respectively. The following tables are by loan category and present loans past due and on non-accrual status as of September 30, 2022 and December 31, 2021: Schedule of loan category and present loans past due and on non-accrual status
|  |  |  |  |  |  |  | Greater than |  |  |  |  |  |  |  |  |  |  |  |  |
(Dollars in thousands) |  | 30-59 Days |  |  | 60-89 Days |  |  | 90 Days and |  |  |  |  |  | Total |  |  |  |  |  |  |
September 30, 2022 |  | Past Due |  |  | Past Due |  |  | Accruing |  |  | Nonaccrual |  |  | Past Due |  |  | Current |  |  | Total Loans |
Commercial |  | $ | 71 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 4,668 |  |  | $ | 4,749 |  |  | $ | 65,963 |  |  | $ | 70,712 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 84,355 |  |  |  | 84,355 |
Mortgage-residential |  |  | — |  |  |  | 113 |  |  |  | 30 |  |  |  | 39 |  |  |  | 182 |  |  |  | 53,371 |  |  |  | 53,553 |
Mortgage-commercial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 698,416 |  |  |  | 698,416 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | 42 |  |  |  | 149 |  |  |  | — |  |  |  | 168 |  |  |  | 359 |  |  |  | 28,441 |  |  |  | 28,800 |
Other |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 14,373 |  |  |  | 14,374 |
Total |  | $ | 113 |  |  | $ | 273 |  |  | $ | 30 |  |  | $ | 4,875 |  |  | $ | 5,291 |  |  | $ | 944,919 |  |  | $ | 950,210 |
|  |  |  |  |  |  |  | Greater than |  |  |  |  |  |  |  |  |  |  |  |  |
(Dollars in thousands) |  | 30-59 Days |  |  | 60-89 Days |  |  | 90 Days and |  |  |  |  |  | Total |  |  |  |  |  |  |
December 31, 2021 |  | Past Due |  |  | Past Due |  |  | Accruing |  |  | Nonaccrual |  |  | Past Due |  |  | Current |  |  | Total Loans |
Commercial |  | $ | 125 |  |  | $ | 35 |  |  | $ | — |  |  | $ | 118 |  |  | $ | 278 |  |  | $ | 69,674 |  |  | $ | 69,952 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 94,969 |  |  |  | 94,969 |
Mortgage-residential |  |  | 8 |  |  |  | 4 |  |  |  | — |  |  |  | 132 |  |  |  | 144 |  |  |  | 45,354 |  |  |  | 45,498 |
Mortgage-commercial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 617,464 |  |  |  | 617,464 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | — |  |  |  | 62 |  |  |  | — |  |  |  | — |  |  |  | 62 |  |  |  | 27,054 |  |  |  | 27,116 |
Other |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 8,702 |  |  |  | 8,703 |
Total |  | $ | 133 |  |  | $ | 102 |  |  | $ | — |  |  | $ | 250 |  |  | $ | 485 |  |  | $ | 863,217 |  |  | $ | 863,702 |
Troubled Debt Restructurings. The Company identifies TDRs as impaired under the guidance in ASC 310-10-35. There were no loans determined to be TDRs that were restructured during the three-month periods ended September 30, 2022 and September 30, 2021. Additionally, there were no loans determined to be TDRs in the previous twelve months that had payment defaults. Defaulted loans are those loans that are greater than 90 days past due. In the determination of the allowance for loan losses, all TDRs are reviewed to ensure that one of the three proper valuation methods (fair market value of the collateral, present value of cash flows, or observable market price) is adhered to. All non-accrual loans are written down to its corresponding collateral value. All TDR accruing loans where the loan balance exceeds the present value of cash flow will have a specific allocation. All nonaccrual loans are considered impaired. Under ASC 310-10, a loan is impaired when it is probable that the Bank will be unable to collect all amounts due including both principal and interest according to the contractual terms of the loan agreement. Acquired credit-impaired loans are accounted for under the accounting guidance for loans and debt securities acquired with deteriorated credit quality, found in FASB ASC Topic 310-30, (Receivables—Loans and Debt Securities Acquired with Deteriorated Credit Quality), and initially measured at fair value, which includes estimated future credit losses expected to be incurred over the life of the loans. Loans acquired in business combinations with evidence of credit deterioration are considered impaired. Loans acquired through business combinations that do not meet the specific criteria of FASB ASC Topic 310-30, but for which a discount is attributable, at least in part to credit quality, are also accounted for under this guidance. Certain acquired loans, including performing loans and revolving lines of credit (consumer and commercial), are accounted for in accordance with FASB ASC Topic 310-20, where the discount is accreted through earnings based on estimated cash flows over the estimated life of the loan. A summary of changes in the accretable yield for purchased credit-impaired loans for the three months ended September 30, 2022 and September 30, 2021 are as follows: Schedule for changes in the accretable yield for PCI loans
(Dollars in thousands) |  | Three Months Ended September 30, 2022 |  |  | Three Months Ended September 30, 2021 |
Accretable yield, beginning of period |  | $ | 49 |  |  | $ | 79 |
Accretion |  |  | (7 | ) |  |  | (8 | )
Accretable yield, end of period |  | $ | 42 |  |  | $ | 71 |
(Dollars in thousands) |  | Nine Months Ended September 30, 2022 |  |  | Nine Months Ended September 30, 2021 |
Accretable yield, beginning of period |  | $ | 64 |  |  | $ | 93 |
Accretion |  |  | (22 | ) |  |  | (22 | )
Accretable yield, end of period |  | $ | 42 |  |  | $ | 71 |
At September 30, 2022 and December 31, 2021, the recorded investment in purchased impaired loans was $92 thousand and $109 thousand, respectively. The unpaid principal balance was $121 thousand and $152 thousand at September 30, 2022 and December 31, 2021, respectively. At September 30, 2022 and December 31, 2021, these loans were all secured by commercial real estate.

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