Loans (Tables)

6 Months Ended

Jun. 30, 2021

Summary of major classifications of loans


	June 30,		December 31,
(Dollars in thousands)	2021		2020
Real estate – residential mortgage	$	218,189	$	218,298
Real estate – construction ¹		53,921		62,147
Commercial, financial and agricultural ²		730,177		700,215
Equity lines		43,782		48,466
Consumer		8,302		11,028
Consumer finance		332,873		312,252
		1,387,244		1,352,406
Less allowance for loan losses		(38,951)		(39,156)
Loans, net	$	1,348,293	$	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 Paycheck Protection Program).

Schedule of acquired loans


	June 30, 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	$	10,632	$	68,873	$	79,505	$	12,760	$	89,043	$	101,803
Carrying amount
Real estate – residential mortgage	$	804	$	12,432	$	13,236	$	1,473	$	15,117	$	16,590
Real estate – construction		—		1,078		1,078		—		1,077		1,077
Commercial, financial and agricultural¹		4,490		44,589		49,079		4,758		58,796		63,554
Equity lines		35		7,965		8,000		80		10,182		10,262
Consumer		41		1,465		1,506		48		1,924		1,972
Total acquired loans	$	5,370	$	67,529	$	72,899	$	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)


	Six Months Ended June 30,
(Dollars in thousands)	2021		2020
Accretable yield, balance at beginning of period	$	4,048	$	4,721
Acquisition of Peoples		—		3,372
Accretion		(1,537)		(1,687)
Reclassification of nonaccretable difference due to improvement in expected cash flows		743		923
Other changes, net		84		115
Accretable yield, balance at end of period	$	3,338	$	7,444

Schedule of loans on nonaccrual status


	June 30,		December 31,
(Dollars in thousands)	2021		2020
Real estate – residential mortgage	$	271	$	276
Commercial, financial and agricultural:
Commercial business lending		2,349		2,428
Equity lines		187		191
Consumer		106		107
Consumer finance		138		402
Total loans on nonaccrual status	$	3,051	$	3,404

Schedule of past due status of loans

The past due status of loans as of June 30, 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	$	560	$	307	$	145	$	1,012	$	804	$	216,373	$	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		48		—		—		48		4,490		477,676		482,214		—
Land acquisition and development lending		—		—		—		—		—		31,671		31,671		—
Builder line lending		—		—		—		—		—		28,233		28,233		—
Commercial business lending		—		—		—		—		—		188,059		188,059		—
Equity lines		—		72		—		72		35		43,675		43,782		—
Consumer		—		—		—		—		41		8,261		8,302		—
Consumer finance		5,064		694		138		5,896		—		326,977		332,873		—
Total	$	5,672	$	1,073	$	283	$	7,028	$	5,370	$	1,374,846	$	1,387,244	$	—

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 $2.77 million and 90+ days past due of $283,000.

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 $2.90 million, and the related allowance at June 30, 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

1,651

558

982

1,661

Commercial, financial and agricultural:

Commercial real estate lending

1,393

—

1,395

Commercial business lending

2,402

—

2,349

572

2,375

—

Equity lines

119

109

—

116

Consumer

119

—

102

101

104

—

Total

5,684

667

4,828

827

5,651

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