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Allowance for Loan Losses

6 Months Ended

Jun. 30, 2021

Allowance for Loan Losses

Allowance for Loan Losses

NOTE 5: Allowance for Loan Losses

The following table presents the changes in the allowance for loan losses by major classification during the six months ended June 30, 2021:

Real Estate

Commercial,

Residential

Real Estate

Financial &

Equity

Consumer

(Dollars in thousands)

Mortgage

Construction

Agricultural

Lines

Consumer

Finance

Total

Allowance for loan losses:

Balance at December 31, 2020

$

2,914

$

975

$

10,696

$

687

$

371

$

23,513

$

39,156

Provision (credited) charged to operations

(113)

(182)

331

(88)

(88)

(180)

(320)

Loans charged off

—

—

—

—

(81)

(2,442)

(2,523)

Recoveries of loans previously charged off

13

—

1

1

65

2,558

2,638

Balance at June 30, 2021

$

2,814

$

793

$

11,028

$

600

$

267

$

23,449

$

38,951

The following table presents the changes in the allowance for loan losses by major classification during the six months ended June 30, 2020:


		Real Estate						Commercial,
		Residential			Real Estate			Financial &			Equity						Consumer
(Dollars in thousands)		Mortgage			Construction			Agricultural			Lines			Consumer			Finance			Total
Allowance for loan losses:
Balance at December 31, 2019		$	2,080		$	681		$	7,121		$	733		$	465		$	21,793		$	32,873
Provision charged to operations			285			302			1,724			56			33			3,850			6,250
Loans charged off			(4)			—			(18)			—			(133)			(5,422)			(5,577)
Recoveries of loans previously charged off			64			—			2			—			105			2,377			2,548
Balance at June 30, 2020		$	2,425		$	983		$	8,829		$	789		$	470		$	22,598		$	36,094

The following table presents, as of June 30, 2021, the balance of the allowance for loan losses, the allowance by impairment methodology, total loans and loans by impairment methodology.


		Real Estate						Commercial,
		Residential			Real Estate			Financial &			Equity						Consumer
(Dollars in thousands)		Mortgage			Construction			Agricultural			Lines			Consumer			Finance			Total
Allowance balance attributable to loans:
Individually evaluated for impairment		$	62		$	—		$	664		$	—		$	101		$	—		$	827
Collectively evaluated for impairment			2,752			793			10,364			600			166			23,449			38,124
Acquired loans - PCI			—			—			—			—			—			—			—
Total allowance		$	2,814		$	793		$	11,028		$	600		$	267		$	23,449		$	38,951
Loans:
Individually evaluated for impairment		$	1,540		$	—		$	3,744		$	109		$	102		$	—		$	5,495
Collectively evaluated for impairment			215,845			53,921			721,943			43,638			8,159			332,873			1,376,379
Acquired loans - PCI			804			—			4,490			35			41			—			5,370
Total loans		$	218,189		$	53,921		$	730,177		$	43,782		$	8,302		$	332,873		$	1,387,244

The following table presents, as of December 31, 2020, the balance of the allowance for loan losses, the allowance by impairment methodology, total loans and loans by impairment methodology.


		Real Estate						Commercial,
		Residential			Real Estate			Financial &			Equity						Consumer
(Dollars in thousands)		Mortgage			Construction			Agricultural			Lines			Consumer			Finance			Total
Allowance balance attributable to loans:
Individually evaluated for impairment		$	77		$	—		$	674		$	—		$	128		$	—		$	879
Collectively evaluated for impairment			2,837			975			10,022			687			243			23,513			38,277
Acquired loans - PCI			—			—			—			—			—			—			—
Total allowance		$	2,914		$	975		$	10,696		$	687		$	371		$	23,513		$	39,156
Loans:
Individually evaluated for impairment		$	2,210		$	—		$	3,825		$	111		$	132		$	—		$	6,278
Collectively evaluated for impairment			214,615			62,147			691,632			48,275			10,848			312,252			1,339,769
Acquired loans - PCI			1,473			—			4,758			80			48			—			6,359
Total loans		$	218,298		$	62,147		$	700,215		$	48,466		$	11,028		$	312,252		$	1,352,406

Loans by credit quality indicators as of June 30, 2021 were as follows:

Special

Substandard

(Dollars in thousands)

Pass

Mention

Substandard

Nonaccrual

Total¹

Real estate – residential mortgage

$

216,599

$

864

$

455

$

271

$

218,189

Real estate – construction:

Construction lending

38,729

—

—

—

38,729

Consumer lot lending

15,192

—

—

—

15,192

Commercial, financial and agricultural:

Commercial real estate lending

459,231

15,487

7,496

—

482,214

Land acquisition and development lending

31,671

—

—

—

31,671

Builder line lending

28,233

—

—

—

28,233

Commercial business lending

184,404

1,306

—

2,349

188,059

Equity lines

43,418

176

1

187

43,782

Consumer

8,155

41

—

106

8,302

$

1,025,632

$

17,874

$

7,952

$

2,913

$

1,054,371

1	At June 30, 2021, the Corporation did not have any loans classified as Doubtful or Loss.


					Non-
(Dollars in thousands)		Performing			Performing			Total
Consumer finance		$	332,735		$	138		$	332,873

Loans by credit quality indicators as of December 31, 2020 were as follows:


					Special						Substandard
(Dollars in thousands)		Pass			Mention			Substandard			Nonaccrual			Total¹
Real estate – residential mortgage		$	215,712		$	1,715		$	595		$	276		$	218,298
Real estate – construction:
Construction lending			49,659			—			—			—			49,659
Consumer lot lending			12,488			—			—			—			12,488
Commercial, financial and agricultural:
Commercial real estate lending			415,506			15,507			10,890			—			441,903
Land acquisition and development lending			37,724			—			—			—			37,724
Builder line lending			18,194			—			—			—			18,194
Commercial business lending			196,743			3,124			99			2,428			202,394
Equity lines			48,140			132			3			191			48,466
Consumer			10,832			48			41			107			11,028
		$	1,004,998		$	20,526		$	11,628		$	3,002		$	1,040,154

1	At December 31, 2020, the Corporation did not have any loans classified as Doubtful or Loss.


					Non-
(Dollars in thousands)		Performing			Performing			Total
Consumer finance		$	311,850		$	402		$	312,252