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Loans and Allowance for Loan Losses (Tables) | 3 Months Ended
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Mar. 31, 2014
Loans and Allowance for Loan Losses |
Summary of loans, by major class within the Company's loan portfolio |
|  | March 31, |  | December 31, |
(in thousands) |  | 2014 |  | 2013 |
Commercial, financial, and agricultural |  | $ | 132,346 |  | $ | 133,717 |
Real estate construction - residential |  | 22,060 |  | 21,008 |
Real estate construction - commercial |  | 57,340 |  | 55,076 |
Real estate mortgage - residential |  | 230,310 |  | 225,541 |
Real estate mortgage - commercial |  | 384,130 |  | 382,550 |
Installment and other consumer |  | 19,121 |  | 21,655 |
Total loans |  | $ | 845,307 |  | $ | 839,547 |
Summary of the allowance for loan losses |
|  | Commercial, |  | Real Estate |  | Real Estate |  | Real Estate |  | Real Estate |  | Installment |  |  |  |  |
|  | Financial, & |  | Construction - |  | Construction - |  | Mortgage - |  | Mortgage - |  | Loans to |  | Un- |  |  |
(in thousands) |  | Agricultural |  | Residential |  | Commercial |  | Residential |  | Commercial |  | Individuals |  | allocated |  | Total |
Balance at December 31, 2013 |  | $ | 2,374 |  | $ | 931 |  | $ | 631 |  | $ | 2,959 |  | $ | 6,523 |  | $ | 294 |  | $ | 7 |  | $ | 13,719 |
Additions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Provision for loan losses |  | 93 |  | (392 | ) | 333 |  | 139 |  | (153 | ) | (13 | ) | (7 | ) | 0 |
Deductions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans charged off |  | 131 |  | 60 |  | 414 |  | 120 |  | 367 |  | 84 |  | 0 |  | 1,176 |
Less recoveries on loans |  | (116 | ) | 0 |  | 0 |  | (112 | ) | (16 | ) | (58 | ) | 0 |  | (302 | )
Net loans charged off |  | 15 |  | 60 |  | 414 |  | 8 |  | 351 |  | 26 |  | 0 |  | 874 |
Balance at March 31, 2014 |  | $ | 2,452 |  | $ | 479 |  | $ | 550 |  | $ | 3,090 |  | $ | 6,019 |  | $ | 255 |  | $ | 0 |  | $ | 12,845 |
Balance at December 31, 2012 |  | $ | 1,937 |  | $ | 732 |  | $ | 1,711 |  | $ | 3,387 |  | $ | 6,834 |  | $ | 239 |  | $ | 2 |  | $ | 14,842 |
Additions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Provision for loan losses |  | (90 | ) | 287 |  | 100 |  | (189 | ) | 844 |  | 47 |  | 1 |  | 1,000 |
Deductions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans charged off |  | 61 |  | 120 |  | 0 |  | 292 |  | 999 |  | 109 |  | 0 |  | 1,581 |
Less recoveries on loans |  | (42 | ) | 0 |  | 0 |  | (15 | ) | (161 | ) | (66 | ) | 0 |  | (284 | )
Net loans charged off |  | 19 |  | 120 |  | 0 |  | 277 |  | 838 |  | 43 |  | 0 |  | 1,297 |
Balance at March 31, 2013 |  | $ | 1,828 |  | $ | 899 |  | $ | 1,811 |  | $ | 2,921 |  | $ | 6,840 |  | $ | 243 |  | $ | 3 |  | $ | 14,545 |
|  | Commercial, |  | Real Estate |  | Real Estate |  | Real Estate |  | Real Estate |  | Installment |  |  |  |  |
|  | Financial, and |  | Construction - |  | Construction - |  | Mortgage - |  | Mortgage - |  | Loans to |  | Un- |  |  |
(in thousands) |  | Agricultural |  | Residential |  | Commercial |  | Residential |  | Commercial |  | Individuals |  | allocated |  | Total |
March 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 1,069 |  | $ | 307 |  | $ | 36 |  | $ | 1,808 |  | $ | 1,482 |  | $ | 51 |  | $ | 0 |  | $ | 4,753 |
Collectively evaluated for impairment |  | 1,383 |  | 172 |  | 514 |  | 1,282 |  | 4,537 |  | 204 |  | 0 |  | 8,092 |
Total |  | $ | 2,452 |  | $ | 479 |  | $ | 550 |  | $ | 3,090 |  | $ | 6,019 |  | $ | 255 |  | $ | 0 |  | $ | 12,845 |
Loans outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 4,919 |  | $ | 2,143 |  | $ | 5,936 |  | $ | 7,472 |  | $ | 15,252 |  | $ | 316 |  | $ | 0 |  | $ | 36,038 |
Collectively evaluated for impairment |  | 127,427 |  | 19,917 |  | 51,404 |  | 222,838 |  | 368,878 |  | 18,805 |  | 0 |  | 809,269 |
Total |  | $ | 132,346 |  | $ | 22,060 |  | $ | 57,340 |  | $ | 230,310 |  | $ | 384,130 |  | $ | 19,121 |  | $ | 0 |  | $ | 845,307 |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 721 |  | $ | 392 |  | $ | 304 |  | $ | 1,374 |  | $ | 1,989 |  | $ | 16 |  | $ | 0 |  | $ | 4,796 |
Collectively evaluated for impairment |  | 1,653 |  | 539 |  | 327 |  | 1,585 |  | 4,534 |  | 278 |  | 7 |  | 8,923 |
Total |  | $ | 2,374 |  | $ | 931 |  | $ | 631 |  | $ | 2,959 |  | $ | 6,523 |  | $ | 294 |  | $ | 7 |  | $ | 13,719 |
Loans outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 4,015 |  | $ | 2,204 |  | $ | 6,615 |  | $ | 6,517 |  | $ | 15,422 |  | $ | 43 |  | $ | 0 |  | $ | 34,816 |
Collectively evaluated for impairment |  | 129,702 |  | 18,804 |  | 48,461 |  | 219,024 |  | 367,128 |  | 21,612 |  | 0 |  | 804,731 |
Total |  | $ | 133,717 |  | $ | 21,008 |  | $ | 55,076 |  | $ | 225,541 |  | $ | 382,550 |  | $ | 21,655 |  | $ | 0 |  | $ | 839,547 |
Schedule of impaired loans |
|  | March 31, |  | December 31, |
(in thousands) |  | 2014 |  | 2013 |
Non-accrual loans |  | $ | 24,804 |  | $ | 23,680 |
Troubled debt restructurings continuing to accrue interest |  | 11,234 |  | 11,395 |
Total impaired loans |  | $ | 36,038 |  | $ | 35,075 |
|  |  |  | Unpaid |  |  |
|  | Recorded |  | Principal |  | Specific |
(in thousands) |  | Investment |  | Balance |  | Reserves |
March 31, 2014 |  |  |  |  |  |  |
With no related allowance recorded: |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | 2,182 |  | $ | 2,239 |  | $ | 0 |
Real estate - construction residential |  | 43 |  | 77 |  | 0 |
Real estate - construction commercial |  | 5,833 |  | 6,998 |  | 0 |
Real estate - residential |  | 2,105 |  | 2,814 |  | 0 |
Real estate - commercial |  | 11,155 |  | 11,417 |  | 0 |
Total |  | $ | 21,318 |  | $ | 23,545 |  | $ | 0 |
With an allowance recorded: |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | 2,737 |  | $ | 2,800 |  | $ | 1,069 |
Real estate - construction residential |  | 2,100 |  | 2,271 |  | 307 |
Real estate - construction commercial |  | 103 |  | 104 |  | 36 |
Real estate - residential |  | 5,367 |  | 5,536 |  | 1,808 |
Real estate - commercial |  | 4,097 |  | 4,662 |  | 1,482 |
Consumer |  | 316 |  | 351 |  | 51 |
Total |  | $ | 14,720 |  | $ | 15,724 |  | $ | 4,753 |
Total impaired loans |  | $ | 36,038 |  | $ | 39,269 |  | $ | 4,753 |
|  |  |  | Unpaid |  |  |
|  | Recorded |  | Principal |  | Specific |
(in thousands) |  | Investment |  | Balance |  | Reserves |
December 31, 2013 |  |  |  |  |  |  |
With no related allowance recorded: |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | 2,467 |  | $ | 2,593 |  | $ | 0 |
Real estate - construction residential |  | 44 |  | 80 |  | 0 |
Real estate - construction commercial |  | 6,101 |  | 7,148 |  | 0 |
Real estate - residential |  | 2,121 |  | 2,654 |  | 0 |
Real estate - commercial |  | 7,817 |  | 8,056 |  | 0 |
Consumer |  | 259 |  | 282 |  | 0 |
Total |  | $ | 18,809 |  | $ | 20,813 |  | $ | 0 |
With an allowance recorded: |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | 1,548 |  | $ | 1,607 |  | $ | 721 |
Real estate - construction residential |  | 2,160 |  | 2,331 |  | 392 |
Real estate - construction commercial |  | 514 |  | 514 |  | 304 |
Real estate - residential |  | 4,396 |  | 4,570 |  | 1,374 |
Real estate - commercial |  | 7,605 |  | 7,925 |  | 1,989 |
Consumer |  | 43 |  | 45 |  | 16 |
Total |  | $ | 16,266 |  | $ | 16,992 |  | $ | 4,796 |
Total impaired loans |  | $ | 35,075 |  | $ | 37,805 |  | $ | 4,796 |
|  | Three Months Ended March 31, |
|  | 2014 |  | 2013 |
|  |  |  | Interest |  |  |  | Interest |
|  | Average |  | Recognized |  | Average |  | Recognized |
|  | Recorded |  | For the |  | Recorded |  | For the |
(in thousands) |  | Investment |  | Period Ended |  | Investment |  | Period Ended |
With no related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | 2,496 |  | $ | 21 |  | $ | 2,937 |  | $ | 25 |
Real estate - construction residential |  | 117 |  | 0 |  | 369 |  | 0 |
Real estate - construction commercial |  | 6,998 |  | 0 |  | 2,616 |  | 0 |
Real estate - residential |  | 2,901 |  | 6 |  | 2,736 |  | 0 |
Real estate - commercial |  | 11,809 |  | 66 |  | 5,480 |  | 29 |
Consumer |  | 25 |  | 0 |  | 189 |  | 0 |
Total |  | $ | 24,346 |  | $ | 93 |  | $ | 14,327 |  | $ | 54 |
With an allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial and agricultural |  | $ | 2,341 |  | $ | 8 |  | $ | 990 |  | $ | 7 |
Real estate - construction residential |  | 2,271 |  | 0 |  | 2,273 |  | 0 |
Real estate - construction commercial |  | 105 |  | 0 |  | 6,475 |  | 1 |
Real estate - residential |  | 5,479 |  | 40 |  | 4,082 |  | 20 |
Real estate - commercial |  | 4,594 |  | 0 |  | 13,634 |  | 26 |
Consumer |  | 343 |  | 0 |  | 45 |  | 0 |
Total |  | $ | 15,133 |  | $ | 48 |  | $ | 27,499 |  | $ | 54 |
Total impaired loans |  | $ | 39,479 |  | $ | 141 |  | $ | 41,826 |  | $ | 108 |
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 |
March 31, 2014 |  |  |  |  |  |  |  |  |  |  |
Commercial, Financial, and Agricultural |  | $ | 129,201 |  | $ | 513 |  | $ | 0 |  | $ | 2,632 |  | $ | 132,346 |
Real Estate Construction - Residential |  | 19,821 |  | 96 |  | 0 |  | 2,143 |  | 22,060 |
Real Estate Construction - Commercial |  | 51,347 |  | 56 |  | 1 |  | 5,936 |  | 57,340 |
Real Estate Mortgage - Residential |  | 222,827 |  | 3,350 |  | 194 |  | 3,939 |  | 230,310 |
Real Estate Mortgage - Commercial |  | 372,245 |  | 2,047 |  | 0 |  | 9,838 |  | 384,130 |
Installment and Other Consumer |  | 18,535 |  | 261 |  | 9 |  | 316 |  | 19,121 |
Total |  | $ | 813,976 |  | $ | 6,323 |  | $ | 204 |  | $ | 24,804 |  | $ | 845,307 |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |
Commercial, Financial, and Agricultural |  | $ | 131,091 |  | $ | 942 |  | $ | 0 |  | $ | 1,684 |  | $ | 133,717 |
Real Estate Construction - Residential |  | 18,738 |  | 66 |  | 0 |  | 2,204 |  | 21,008 |
Real Estate Construction - Commercial |  | 48,230 |  | 595 |  | 0 |  | 6,251 |  | 55,076 |
Real Estate Mortgage - Residential |  | 217,179 |  | 4,068 |  | 129 |  | 4,165 |  | 225,541 |
Real Estate Mortgage - Commercial |  | 372,651 |  | 725 |  | 100 |  | 9,074 |  | 382,550 |
Installment and Other Consumer |  | 21,048 |  | 291 |  | 14 |  | 302 |  | 21,655 |
Total |  | $ | 808,937 |  | $ | 6,687 |  | $ | 243 |  | $ | 23,680 |  | $ | 839,547 |
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 March 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Watch |  | $ | 16,988 |  | $ | 2,485 |  | $ | 5,928 |  | $ | 26,615 |  | $ | 24,169 |  | $ | 285 |  | $ | 76,470 |
Substandard |  | 5,558 |  | 91 |  | 1,029 |  | 10,030 |  | 10,233 |  | 230 |  | 27,171 |
Non-accrual |  | 2,632 |  | 2,143 |  | 5,936 |  | 3,939 |  | 9,838 |  | 316 |  | 24,804 |
Total |  | $ | 25,178 |  | $ | 4,719 |  | $ | 12,893 |  | $ | 40,584 |  | $ | 44,240 |  | $ | 831 |  | $ | 128,445 |
At December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Watch |  | $ | 15,016 |  | $ | 2,007 |  | $ | 6,111 |  | $ | 26,331 |  | $ | 23,662 |  | $ | 388 |  | $ | 73,515 |
Substandard |  | 7,553 |  | 92 |  | 1,403 |  | 8,579 |  | 14,510 |  | 281 |  | 32,418 |
Non-accrual |  | 1,684 |  | 2,204 |  | 6,251 |  | 4,165 |  | 9,074 |  | 302 |  | 23,680 |
Total |  | $ | 24,253 |  | $ | 4,303 |  | $ | 13,765 |  | $ | 39,075 |  | $ | 47,246 |  | $ | 971 |  | $ | 129,613 |
Summary of loans that were modified as TDRs |
|  | Three Months Ended March 31, |
|  | 2014 |  | 2013 |
|  | 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 |  | 2 |  | $ | 244 |  | $ | 244 |  | 0 |  | $ | 0 |  | $ | 0 |
Real estate construction - commercial |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
Real estate mortgage - residential |  | 1 |  | 1,256 |  | 1,185 |  | 1 |  | 619 |  | 619 |
Real estate mortgage - commercial |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
Consumer |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
Total |  | 3 |  | $ | 1,500 |  | $ | 1,429 |  | 1 |  | $ | 619 |  | $ | 619 |
(1) The amounts reported post-modification are inclusive of all partial pay-downs and charge-offs, and no portion of the debt was forgiven. Loans modified as a TDR that were fully paid down, charged-off or foreclosed upon during the period ended are not reported.

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