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Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2013

Loans and Allowance for Loan Losses

Summary of loans, by major class within the Company's loan portfolio

		June 30,			December 31,
(in thousands)		2013			2012
Commercial, financial, and agricultural		$	136,643		$	130,040
Real estate construction - residential		23,647			22,177
Real estate construction - commercial		48,146			43,486
Real estate mortgage - residential		217,828			221,223
Real estate mortgage - commercial		389,706			405,092
Installment and other consumer		23,020			24,966
Total loans		$	838,990		$	846,984

Summary of the allowance for loan losses

Three Months Ended June 30, 2013

		Commercial,			Real Estate			Real Estate			Real Estate			Real Estate			Installment
		Financial, &			Construction -			Construction -			Mortgage -			Mortgage -			Loans to
(in thousands)		Agricultural			Residential			Commercial			Residential			Commercial			Individuals			Unallocated			Total
Balance at beginning of period		$	1,828		$	899		$	1,811		$	2,921		$	6,840		$	243		$	3		$	14,545
Additions:
Provision for loan losses		370			33			389			(399		)	591			18			(2		)	1,000
Deductions:
Loans charged off		101			0			0			95			28			70			0			294
Less recoveries on loans		(22		)	0			(2		)	(29		)	(12		)	(42		)	0			(107		)
Net loans charged off		79			0			(2		)	66			16			28			0			187
Balance at end of period		$	2,119		$	932		$	2,202		$	2,456		$	7,415		$	233		$	1		$	15,358

Six Months Ended June 30, 2013

		Commercial,			Real Estate			Real Estate			Real Estate			Real Estate			Installment
		Financial, &			Construction -			Construction -			Mortgage -			Mortgage -			Loans to
(in thousands)		Agricultural			Residential			Commercial			Residential			Commercial			Individuals			Unallocated			Total
Balance at beginning of period		$	1,937		$	732		$	1,711		$	3,387		$	6,834		$	239		$	2		$	14,842
Additions:
Provision for loan losses		279			320			489			(588		)	1,436			65			(1		)	2,000
Deductions:
Loans charged off		162			120			0			387			1,027			179			0			1,875
Less recoveries on loans		(65		)	0			(2		)	(44		)	(172		)	(108		)	0			(391		)
Net loans charged off		97			120			(2		)	343			855			71			0			1,484
Balance at end of period		$	2,119		$	932		$	2,202		$	2,456		$	7,415		$	233		$	1		$	15,358

Three Months Ended June 30, 2012

		Commercial,			Real Estate			Real Estate			Real Estate			Real Estate			Installment
		Financial, &			Construction -			Construction -			Mortgage -			Mortgage -			Loans to
(in thousands)		Agricultural			Residential			Commercial			Residential			Commercial			Individuals			Unallocated			Total
Balance at beginning of period		$	2,722		$	727		$	1,410		$	3,563		$	5,976		$	237		$	5		$	14,640
Additions:
Provision for loan losses		363			(54		)	211			380			525			63			12			1,500
Deductions:
Loans charged off		69			0			0			422			438			132			0			1,061
Less recoveries on loans		(29		)	(36		)	(23		)	(39		)	(44		)	(64		)	0			(235		)
Net loans charged off		40			(36		)	(23		)	383			394			68			0			826
Balance at end of period		$	3,045		$	709		$	1,644		$	3,560		$	6,107		$	232		$	17		$	15,314

Six Months Ended June 30, 2012

		Commercial,			Real Estate			Real Estate			Real Estate			Real Estate			Installment
		Financial, &			Construction -			Construction -			Mortgage -			Mortgage -			Loans to
(in thousands)		Agricultural			Residential			Commercial			Residential			Commercial			Individuals			Unallocated			Total
Balance at beginning of period		$	1,804		$	1,188		$	1,562		$	3,251		$	5,734		$	267		$	3		$	13,809
Additions:
Provision for loan losses		1,230			(546		)	59			795			1,552			96			14			3,200
Deductions:
Loans charged off		104			0			0			577			1,300			271			0			2,252
Less recoveries on loans		(115		)	(67		)	(23		)	(91		)	(121		)	(140		)	0			(557		)
Net loans charged off		(11		)	(67		)	(23		)	486			1,179			131			0			1,695
Balance at end of period		$	3,045		$	709		$	1,644		$	3,560		$	6,107		$	232		$	17		$	15,314

The following table provides the balance in the allowance for loan losses at June 30, 2013 and December 31, 2012, and the related loan balance by impairment methodology.

		Commercial,			Real Estate			Real Estate			Real Estate			Real Estate			Installment
		Financial, and			Construction -			Construction -			Mortgage -			Mortgage -			Loans to
(in thousands)		Agricultural			Residential			Commercial			Residential			Commercial			Individuals			Unallocated			Total
June 30, 2013
Allowance for loan losses:
Individually evaluated for impairment		$	580		$	248		$	768		$	1,156		$	3,128		$	6		$	0		$	5,886
Collectively evaluated for impairment		1,539			684			1,434			1,300			4,287			227			1			9,472
Total		$	2,119		$	932		$	2,202		$	2,456		$	7,415		$	233		$	1		$	15,358
Loans outstanding:
Individually evaluated for impairment		$	4,332		$	2,280		$	7,831		$	5,754		$	18,162		$	44		$	0		$	38,403
Collectively evaluated for impairment		132,311			21,367			40,315			212,074			371,544			22,976			0			800,587
Total		$	136,643		$	23,647		$	48,146		$	217,828		$	389,706		$	23,020		$	0		$	838,990
December 31, 2012
Allowance for loan losses:
Individually evaluated for impairment		$	213		$	125		$	542		$	1,069		$	2,071		$	0		$	0		$	4,020
Collectively evaluated for impairment		1,724			607			1,169			2,318			4,763			239			2			10,822
Total		$	1,937		$	732		$	1,711		$	3,387		$	6,834		$	239		$	2		$	14,842
Loans outstanding:
Individually evaluated for impairment		$	4,157		$	2,496		$	7,762		$	5,771		$	18,959		$	44		$	0		$	39,189
Collectively evaluated for impairment		125,883			19,681			35,724			215,452			386,133			24,922			0			807,795
Total		$	130,040		$	22,177		$	43,486		$	221,223		$	405,092		$	24,966		$	0		$	846,984

Schedule of impaired loans

The categories of impaired loans at June 30, 2013 and December 31, 2012 are as follows:

		June 30,			December 31,
(in thousands)		2013			2012
Non-accrual loans		$	30,840		$	31,081
Troubled debt restructurings continuing to accrue interest		7,792			8,282
Total impaired loans		$	38,632		$	39,363

The following tables provide additional information about impaired loans at June 30, 2013 and December 31, 2012, respectively, segregated between loans for which an allowance has been provided and loans for which no allowance has been provided.

					Unpaid
		Recorded			Principal			Specific
(in thousands)		Investment			Balance			Reserves
June 30, 2013
With no related allowance recorded:
Commercial, financial and agricultural		$	2,372		$	2,423		$	0
Real estate - construction residential		105			139			0
Real estate - construction commercial		2,942			3,227			0
Real estate - residential		1,605			2,083			0
Real estate - commercial		3,436			3,615			0
Consumer		229			245			0
Total		$	10,689		$	11,732		$	0
With an allowance recorded:
Commercial, financial and agricultural		$	1,960		$	2,037		$	580
Real estate - construction residential		2,175			2,273			248
Real estate - construction commercial		4,889			5,067			768
Real estate - residential		4,149			4,324			1,156
Real estate - commercial		14,726			15,913			3,128
Consumer		44			44			6
Total		$	27,943		$	29,658		$	5,886
Total impaired loans		$	38,632		$	41,390		$	5,886

					Unpaid
		Recorded			Principal			Specific
(in thousands)		Investment			Balance			Reserves
December 31, 2012
With no related allowance recorded:
Commercial, financial and agricultural		$	3,272		$	4,009		$	0
Real estate - construction residential		2,307			2,339			0
Real estate - construction commercial		1,879			2,102			0
Real estate - residential		1,939			2,393			0
Real estate - commercial		5,162			5,565			0
Consumer		174			186			0
Total		$	14,733		$	16,594		$	0
With an allowance recorded:
Commercial, financial and agricultural		$	885		$	898		$	213
Real estate - construction residential		189			189			125
Real estate - construction commercial		5,883			6,011			542
Real estate - residential		3,832			3,999			1,069
Real estate - commercial		13,797			14,167			2,071
Consumer		44			44			0
Total		$	24,630		$	25,308		$	4,020
Total impaired loans		$	39,363		$	41,902		$	4,020

The following table presents by class, information related to the average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2013 and 2012.

		Three Months Ended June 30,												Six Months Ended June 30,
		2013						2012						2013						2012
					Interest						Interest						Interest						Interest
					Recognized						Recognized						Recognized						Recognized
		Average			For the			Average			For the			Average			For the			Average			For the
		Recorded			Period			Recorded			Period			Recorded			Period			Recorded			Period
(in thousands)		Investment			Ended			Investment			Ended			Investment			Ended			Investment			Ended
With no related allowance recorded:
Commercial, financial and agricultural		$	2,434		$	23		$	2,598		$	21		$	2,449		$	47		$	2,630		$	43
Real estate - construction residential		216			0			93			0			293			0			255			7
Real estate - construction commercial		3,227			0			1,572			0			3,242			1			1,506			0
Real estate - residential		2,084			0			2,390			40			2,087			0			3,515			42
Real estate - commercial		3,628			28			12,344			28			3,701			57			13,439			60
Consumer		248			1			146			0			254			2			153			0
Total		$	11,837		$	52		$	19,143		$	89		$	12,026		$	107		$	21,498		$	152
With an allowance recorded:
Commercial, financial and agricultural		$	2,042		$	20		$	3,842		$	7		$	2,049		$	32		$	3,284		$	14
Real estate - construction residential		2,273			0			189			0			2,273			0			242			0
Real estate - construction commercial		5,327			0			6,147			0			5,558			0			6,187			0
Real estate - residential		4,331			16			2,818			(23		)	4,354			39			2,666			7
Real estate - commercial		16,143			46			15,033			0			16,506			96			14,496			0
Consumer		44			0			0			0			44			0			0			0
Total		$	30,160		$	82		$	28,029		$	(16	)	$	30,784		$	167		$	26,875		$	21
Total impaired loans		$	41,997		$	134		$	47,172		$	73		$	42,810		$	274		$	48,373		$	173

Schedule of aging information for the Company's past due and non-accrual loans

		Current or						90 Days
		Less Than						Past Due
		30 Days			30 - 89 Days			And Still
(in thousands)		Past Due			Past Due			Accruing			Non-Accrual			Total
June 30, 2013
Commercial, Financial, and Agricultural		$	134,013		$	672		$	1		$	1,957		$	136,643
Real Estate Construction - Residential		21,207			160			0			2,280			23,647
Real Estate Construction - Commercial		40,315			0			0			7,831			48,146
Real Estate Mortgage - Residential		212,285			628			213			4,702			217,828
Real Estate Mortgage - Commercial		375,070			839			0			13,797			389,706
Installment and Other Consumer		22,486			254			7			273			23,020
Total		$	805,376		$	2,553		$	221		$	30,840		$	838,990
December 31, 2012
Commercial, Financial, and Agricultural		$	126,884		$	1,821		$	0		$	1,335		$	130,040
Real Estate Construction - Residential		19,390			290			0			2,497			22,177
Real Estate Construction - Commercial		35,117			607			0			7,762			43,486
Real Estate Mortgage - Residential		213,694			2,199			0			5,330			221,223
Real Estate Mortgage - Commercial		390,032			1,122			0			13,938			405,092
Installment and Other Consumer		24,221			520			6			219			24,966
Total		$	809,338		$	6,559		$	6		$	31,081		$	846,984

Schedule of risk categories by class

(in thousands)		Commercial, Financial, & Agricultural			Real Estate Construction - Residential			Real Estate Construction - Commercial			Real Estate Mortgage - Residential			Real Estate Mortgage - Commercial			Installment and other Consumer			Total
At June 30, 2013
Watch		$	16,058		$	1,744		$	3,399		$	21,694		$	23,041		$	496		$	66,432
Substandard		8,453			2,910			2,336			10,362			12,023			478			36,562
Non-accrual		1,957			2,280			7,831			4,702			13,797			273			30,840
Total		$	26,468		$	6,934		$	13,566		$	36,758		$	48,861		$	1,247		$	133,834
At December 31, 2012
Watch		$	14,814		$	4,580		$	6,459		$	26,063		$	29,753		$	672		$	82,341
Substandard		6,485			396			2,035			5,472			11,027			423			25,838
Non-accrual		1,335			2,497			7,762			5,330			13,938			219			31,081
Total		$	22,634		$	7,473		$	16,256		$	36,865		$	54,718		$	1,314		$	139,260

Summary of loans that were modified as TDRs

		Six Months Ended June 30,
		2013								2012
		Recorded Investment (1)								Recorded Investment (1)
(in thousands)		Number of Contracts		Pre- Modification			Post- Modification			Number of Contracts		Pre- Modification			Post- Modification
Troubled Debt Restructurings
Commercial, financial and agricultural		0		$	0		$	0		1		$	188		$	196
Real estate construction - commercial		0		0			0			1		43			43
Real estate mortgage - residential		1		619			619			0		0			0
Total		1		$	619		$	619		2		$	231		$	239

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