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Allowance for Loan Losses

3 Months Ended

Mar. 31, 2022

Allowance for Loan Losses

Allowance for Loan Losses

NOTE 4: Allowance for Loan Losses

The following table presents the changes in the allowance for loan losses by major classification during the three months ended March 31, 2022:

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, 2021

$

2,660

$

856

$

11,085

$

593

$

172

$

24,791

$

40,157

Provision (credited) charged to operations

(38)

37

(636)

(49)

8

350

(328)

Loans charged off

—

—

(11)

—

(48)

(1,313)

(1,372)

Recoveries of loans previously charged off

6

—

2

—

32

1,271

1,311

Balance at March 31, 2022

$

2,628

$

893

$

10,440

$

544

$

164

$

25,099

$

39,768

The following table presents the changes in the allowance for loan losses by major classification during the three months ended March 31, 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 charged (credited) to operations			(28)			(153)			311			(16)			(84)			250			280
Loans charged off			—			—			—			—			(45)			(1,651)			(1,696)
Recoveries of loans previously charged off			7			—			—			—			35			1,251			1,293
Balance at March 31, 2021		$	2,893		$	822		$	11,007		$	671		$	277		$	23,363		$	39,033

The following table presents, as of March 31, 2022, 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		$	52		$	—		$	90		$	—		$	—		$	—		$	142
Collectively evaluated for impairment			2,576			893			10,350			544			164			25,099			39,626
Acquired loans - PCI			—			—			—			—			—			—			—
Total allowance		$	2,628		$	893		$	10,440		$	544		$	164		$	25,099		$	39,768
Loans:
Individually evaluated for impairment		$	1,168		$	—		$	1,388		$	28		$	—		$	—		$	2,584
Collectively evaluated for impairment			214,348			61,302			715,602			40,648			7,717			396,722			1,436,339
Acquired loans - PCI			510			—			2,106			29			41			—			2,686
Total loans		$	216,026		$	61,302		$	719,096		$	40,705		$	7,758		$	396,722		$	1,441,609

The following table presents, as of December 31, 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		$	63		$	—		$	592		$	—		$	—		$	—		$	655
Collectively evaluated for impairment			2,597			856			10,493			593			172			24,791			39,502
Acquired loans - PCI			—			—			—			—			—			—			—
Total allowance		$	2,660		$	856		$	11,085		$	593		$	172		$	24,791		$	40,157
Loans:
Individually evaluated for impairment		$	1,585		$	—		$	3,513		$	110		$	—		$	—		$	5,208
Collectively evaluated for impairment			214,614			57,495			711,464			41,197			8,233			368,194			1,401,197
Acquired loans - PCI			817			—			2,753			38			47			—			3,655
Total loans		$	217,016		$	57,495		$	717,730		$	41,345		$	8,280		$	368,194		$	1,410,060

Loans by credit quality indicators as of March 31, 2022 were as follows:

Special

Substandard

(Dollars in thousands)

Pass

Mention

Substandard

Nonaccrual

Total¹

Real estate – residential mortgage

$

214,505

$

509

$

670

$

342

$

216,026

Real estate – construction:

Construction lending

46,206

—

—

—

46,206

Consumer lot lending

15,096

—

—

—

15,096

Commercial, financial and agricultural:

Commercial real estate lending

517,441

2,057

5,924

—

525,422

Land acquisition and development lending

37,062

—

—

—

37,062

Builder line lending

30,915

—

—

—

30,915

Commercial business lending

125,697

—

—

—

125,697

Equity lines

40,578

10

14

103

40,705

Consumer

7,756

—

—

2

7,758

$

1,035,256

$

2,576

$

6,608

$

447

$

1,044,887

1	At March 31, 2022, the Corporation did not have any loans classified as Doubtful or Loss.


					Non-
(Dollars in thousands)		Performing			Performing			Total
Consumer finance:
Automobiles		$	348,372		$	318		$	348,690
Marine and recreational vehicles			48,032			-			48,032
		$	396,404		$	318		$	396,722

Loans by credit quality indicators as of December 31, 2021 were as follows:


					Special						Substandard
(Dollars in thousands)		Pass			Mention			Substandard			Nonaccrual			Total¹
Real estate – residential mortgage		$	215,432		$	664		$	605		$	315		$	217,016
Real estate – construction:
Construction lending			39,252			—			—			—			39,252
Consumer lot lending			18,243			—			—			—			18,243
Commercial, financial and agricultural:
Commercial real estate lending			519,938			1,989			5,986			—			527,913
Land acquisition and development lending			27,609			—			—			—			27,609
Builder line lending			30,499			—			—			—			30,499
Commercial business lending			129,587			—			—			2,122			131,709
Equity lines			41,013			47			181			104			41,345
Consumer			8,276			—			1			3			8,280
		$	1,029,849		$	2,700		$	6,773		$	2,544		$	1,041,866

1	At December 31, 2021, the Corporation did not have any loans classified as Doubtful or Loss.


					Non-
(Dollars in thousands)		Performing			Performing			Total
Consumer finance:
Automobiles		$	321,687		$	380		$	322,067
Marine and recreational vehicles			46,127			-			46,127
		$	367,814		$	380		$	368,194