Loans (Tables)

12 Months Ended

Dec. 31, 2020

Summary of major classifications of loans


	December 31,
(Dollars in thousands)	2020		2019
Real estate – residential mortgage	$	218,298	$	181,295
Real estate – construction ¹		62,147		54,246
Commercial, financial and agricultural ²		700,215		500,812
Equity lines		48,466		52,083
Consumer		11,028		13,756
Consumer finance		312,252		312,999
		1,352,406		1,115,191
Less allowance for loan losses		(39,156)		(32,873)
Loans, net	$	1,313,250	$	1,082,318

1	Includes the Corporation’s real estate construction lending and consumer real estate lot lending.

2	Includes the Corporation’s commercial real estate lending, land acquisition and development lending, builder line lending and commercial business lending (which includes loans originated under the PPP).

Schedule of acquired loans


	December 31, 2020						December 31, 2019
	Acquired Loans -		Acquired Loans -				Acquired Loans -		Acquired Loans -
	Purchased		Purchased		Acquired Loans -		Purchased		Purchased		Acquired Loans -
(Dollars in thousands)	Credit Impaired		Performing		Total		Credit Impaired		Performing		Total
Outstanding principal balance	$	12,760	$	89,043	$	101,803	$	6,262	$	27,839	$	34,101
Carrying amount
Real estate – residential mortgage	$	1,473	$	15,117	$	16,590	$	107	$	7,035	$	7,142
Real estate – construction		—		1,077		1,077		—		—		—
Commercial, financial and agricultural¹		4,758		58,796		63,554		563		11,338		11,901
Equity lines		80		10,182		10,262		35		8,046		8,081
Consumer		48		1,924		1,972		—		3		3
Total acquired loans	$	6,359	$	87,096	$	93,455	$	705	$	26,422	$	27,127

1	Includes acquired loans classified by the Corporation as commercial real estate lending and commercial business lending.

Summary of change in the accretable yield of loans classified as purchased credit impaired (PCI)


	Year Ended December 31,
(Dollars in thousands)	2020		2019
Accretable yield, balance at beginning of period	$	4,721	$	5,987
Acquisition of Peoples		3,372		—
Accretion		(3,032)		(3,360)
Sale of PCI loan pool		(323)		—
Reclassification of nonaccretable difference due to improvement in expected cash flows		521		1,587
Other changes, net		(1,211)		507
Accretable yield, balance at end of period	$	4,048	$	4,721

Schedule of loans on nonaccrual status

Loans on nonaccrual status at December 31, 2020 and 2019 were as follows:


	December 31,
(Dollars in thousands)	2020		2019
Real estate – residential mortgage	$	276	$	1,526
Commercial, financial and agricultural:
Commercial business lending		2,428		11
Equity lines		191		229
Consumer		107		118
Consumer finance		402		611
Total loans on nonaccrual status	$	3,404	$	2,495

Schedule of past due status of loans

The past due status of loans as of December 31, 2020 was as follows:


															90+ Days
	30 - 59 Days		60 - 89 Days		90+ Days		Total								Past Due and
(Dollars in thousands)	Past Due		Past Due		Past Due		Past Due		PCI		Current¹		Total Loans		Accruing
Real estate – residential mortgage	$	1,100	$	154	$	176	$	1,430	$	1,473	$	215,395	$	218,298	$	145
Real estate – construction:
Construction lending		—		—		—		—		—		49,659		49,659		—
Consumer lot lending		—		—		—		—		—		12,488		12,488		—
Commercial, financial and agricultural:
Commercial real estate lending		—		—		—		—		4,758		437,145		441,903		—
Land acquisition and development lending		—		—		—		—		—		37,724		37,724		—
Builder line lending		—		—		—		—		—		18,194		18,194		—
Commercial business lending		24		—		—		24		—		202,370		202,394		—
Equity lines		52		—		—		52		80		48,334		48,466		—
Consumer		2		—		—		2		48		10,978		11,028		—
Consumer finance		8,249		967		402		9,618		—		302,634		312,252		—
Total	$	9,427	$	1,121	$	578	$	11,126	$	6,359	$	1,334,921	$	1,352,406	$	145

For the purposes of the table above, “Current” includes loans that are 1-29 days past due.

The past due status of loans as of December 31, 2019 was as follows:


															90+ Days
	30 - 59 Days		60 - 89 Days		90+ Days		Total								Past Due and
(Dollars in thousands)	Past Due		Past Due		Past Due		Past Due		PCI		Current¹		Total Loans		Accruing
Real estate – residential mortgage	$	1,428	$	161	$	1,016	$	2,605	$	107	$	178,583	$	181,295	$	—
Real estate – construction:
Construction lending		—		—		—		—		—		40,943		40,943		—
Consumer lot lending		—		—		—		—		—		13,303		13,303		—
Commercial, financial and agricultural:
Commercial real estate lending		—		—		—		—		563		325,991		326,554		—
Land acquisition and development lending		—		—		—		—		—		42,891		42,891		—
Builder line lending		—		—		—		—		—		26,373		26,373		—
Commercial business lending		73		18		—		91		—		104,903		104,994		—
Equity lines		229		56		223		508		35		51,540		52,083		109
Consumer		20		10		—		30		—		13,726		13,756		—
Consumer finance		11,034		1,420		611		13,065		—		299,934		312,999		—
Total	$	12,784	$	1,665	$	1,850	$	16,299	$	705	$	1,098,187	$	1,115,191	$	109

For the purposes of the table above, “Current” includes loans that are 1-29 days past due.

Schedule of loan modifications classified as TDRs


	Year Ended December 31,
	2020			2019			2018
	Number of	Recorded		Number of	Recorded		Number of	Recorded
(Dollars in thousands)	Loans	Investment		Loans	Investment		Loans	Investment
Real estate – residential mortgage	2	$	176	2	$	95	1	$	140
Equity lines	1		84	—		—	—		—
Consumer	—		—	1		121	1		5
Total	3	$	260	3	$	216	2	$	145

Schedule of impaired loans

Impaired loans, which included TDRs of $3.58 million, and the related allowance at December 31, 2020 were as follows:

Recorded

Investment

Average

Unpaid

in Loans

Balance-

Interest

Principal

without

with

Related

Impaired

Income

(Dollars in thousands)

Balance

Specific Reserve

Allowance

Loans

Recognized

Real estate – residential mortgage

2,326

931

1,279

2,353

105

Commercial, financial and agricultural:

Commercial real estate lending

1,397

—

1,397

1,404

Commercial business lending

2,430

—

2,428

585

2,573

—

Equity lines

120

111

—

119

Consumer

147

—

132

128

154

Total

6,420

1,042

5,236

879

6,603

183

Impaired loans, which included TDRs of $4.35 million, and the related allowance at December 31, 2019 were as follows:



			Recorded		Recorded
			Investment		Investment				Average
	Unpaid		in Loans		in Loans				Balance-		Interest
	Principal		without		with		Related		Impaired		Income
(Dollars in thousands)	Balance		Specific Reserve		Specific Reserve		Allowance		Loans		Recognized
Real estate – residential mortgage	$	3,891	$	2,192	$	1,479	$	72	$	3,506	$	155
Commercial, financial and agricultural:
Commercial real estate lending		1,459		4		1,447		77		1,581		82
Equity lines		31		31		—		—		32		2
Consumer		130		—		121		118		123		—
Total	$	5,511	$	2,227	$	3,047	$	267	$	5,242	$	239