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Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2021

Allowance for Loan Losses

Schedule of changes in the allowance for loan losses

The following table presents the changes in the allowance for loan losses by major classification during the nine months ended September 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

(99)

(183)

422

(90)

(160)

220

110

Loans charged off

—

—

—

—

(128)

(3,443)

(3,571)

Recoveries of loans previously charged off

19

—

2

1

93

3,637

3,752

Balance at September 30, 2021

$

2,834

$

792

$

11,120

$

598

$

176

$

23,927

$

39,447

The following table presents the changes in the allowance for loan losses by major classification during the nine months ended September 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 (credited) to operations			337			232			3,446			(78)			(37)			5,650			9,550
Loans charged off			(9)			—			(18)			—			(174)			(7,005)			(7,206)
Recoveries of loans previously charged off			79			—			3			—			135			3,422			3,639
Balance at September 30, 2020		$	2,487		$	913		$	10,552		$	655		$	389		$	23,860		$	38,856

Schedule of balance of the allowance for loan losses and the allowance by impairment methodology

The following table presents, as of September 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		$	68		$	—		$	349		$	—		$	—		$	—		$	417
Collectively evaluated for impairment			2,766			792			10,771			598			176			23,927			39,030
Acquired loans - PCI			—			—			—			—			—			—			—
Total allowance		$	2,834		$	792		$	11,120		$	598		$	176		$	23,927		$	39,447
Loans:
Individually evaluated for impairment		$	1,444		$	—		$	3,628		$	108		$	—		$	—		$	5,180
Collectively evaluated for impairment			212,868			53,845			713,686			42,738			8,124			349,130			1,380,391
Acquired loans - PCI			854			—			4,510			35			41			—			5,440
Total loans		$	215,166		$	53,845		$	721,824		$	42,881		$	8,165		$	349,130		$	1,391,011

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

Schedule of loans by credit quality indicators

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

Special

Substandard

(Dollars in thousands)

Pass

Mention

Substandard

Nonaccrual

Total¹

Real estate – residential mortgage

$

213,523

$

873

$

453

$

317

$

215,166

Real estate – construction:

Construction lending

36,159

—

—

—

36,159

Consumer lot lending

17,686

—

—

—

17,686

Commercial, financial and agricultural:

Commercial real estate lending

477,246

15,484

7,595

—

500,325

Land acquisition and development lending

37,242

—

—

—

37,242

Builder line lending

29,748

—

—

—

29,748

Commercial business lending

150,974

1,300

—

2,235

154,509

Equity lines

42,475

137

84

185

42,881

Consumer

8,161

—

—

4

8,165

$

1,013,214

$

17,794

$

8,132

$

2,741

$

1,041,881

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


					Non-
(Dollars in thousands)		Performing			Performing			Total
Consumer finance		$	348,932		$	198		$	349,130

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