Loans (Tables)

3 Months Ended

Mar. 31, 2021

Summary of major classifications of loans


	March 31,		December 31,
(Dollars in thousands)	2021		2020
Real estate – residential mortgage	$	216,920	$	218,298
Real estate – construction ¹		52,884		62,147
Commercial, financial and agricultural ²		741,980		700,215
Equity lines		46,976		48,466
Consumer		9,132		11,028
Consumer finance		317,144		312,252
		1,385,036		1,352,406
Less allowance for loan losses		(39,033)		(39,156)
Loans, net	$	1,346,003	$	1,313,250

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


	March 31, 2021						December 31, 2020
	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	$	11,931	$	79,015	$	90,946	$	12,760	$	89,043	$	101,803
Carrying amount
Real estate – residential mortgage	$	914	$	14,007	$	14,921	$	1,473	$	15,117	$	16,590
Real estate – construction		—		1,077		1,077		—		1,077		1,077
Commercial, financial and agricultural¹		4,872		51,880		56,752		4,758		58,796		63,554
Equity lines		50		8,861		8,911		80		10,182		10,262
Consumer		42		1,666		1,708		48		1,924		1,972
Total acquired loans	$	5,878	$	77,491	$	83,369	$	6,359	$	87,096	$	93,455

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)


	Three Months Ended March 31,
(Dollars in thousands)	2021		2020
Accretable yield, balance at beginning of period	$	4,048	$	4,721
Acquisition of Peoples		—		3,366
Accretion		(517)		(959)
Reclassification of nonaccretable difference due to improvement in expected cash flows		456		733
Other changes, net		(69)		57
Accretable yield, balance at end of period	$	3,918	$	7,918

Schedule of loans on nonaccrual status


	March 31,		December 31,
(Dollars in thousands)	2021		2020
Real estate – residential mortgage	$	278	$	276
Commercial, financial and agricultural:
Commercial business lending		2,409		2,428
Equity lines		189		191
Consumer		110		107
Consumer finance		182		402
Total loans on nonaccrual status	$	3,168	$	3,404

Schedule of past due status of loans

The past due status of loans as of March 31, 2021 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	$	982	$	449	$	291	$	1,722	$	914	$	214,284	$	216,920	$	145
Real estate – construction:
Construction lending		—		—		—		—		—		39,525		39,525		—
Consumer lot lending		—		—		—		—		—		13,359		13,359		—
Commercial, financial and agricultural:
Commercial real estate lending		219		—		—		219		4,872		449,211		454,302		—
Land acquisition and development lending		—		—		—		—		—		33,615		33,615		—
Builder line lending		—		—		—		—		—		22,388		22,388		—
Commercial business lending		—		—		—		—		—		231,675		231,675		—
Equity lines		51		64		—		115		50		46,811		46,976		—
Consumer		26		—		—		26		42		9,064		9,132		—
Consumer finance		4,242		518		182		4,942		—		312,202		317,144		—
Total	$	5,520	$	1,031	$	473	$	7,024	$	5,878	$	1,372,134	$	1,385,036	$	145

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

The table above includes nonaccrual loans that are current of $2.83 million, 30-59 days past due of $5,000 and 90+ days past due of $328,000.

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 table above includes nonaccrual loans that are current of $2.86 million, 30-59 days past due of $115,000 and 90+ days past due of $433,000.

Schedule of impaired loans

Impaired loans, which included TDRs of $3.00 million, and the related allowance at March 31, 2021 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

1,753

446

1,194

1,758

Commercial, financial and agricultural:

Commercial real estate lending

1,395

—

1,395

1,396

Commercial business lending

2,430

—

2,408

625

2,410

—

Equity lines

120

110

—

117

—

Consumer

286

—

105

102

106

—

Total

5,984

556

5,102

891

5,787

Impaired loans, which included TDRs of $3.58 million, and the related allowance at December 31, 2020 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	$	2,326	$	931	$	1,279	$	77	$	2,353	$	105
Commercial, financial and agricultural:
Commercial real estate lending		1,397		—		1,397		89		1,404		73
Commercial business lending		2,430		—		2,428		585		2,573		—
Equity lines		120		111		—		—		119		2
Consumer		147		—		132		128		154		3
Total	$	6,420	$	1,042	$	5,236	$	879	$	6,603	$	183