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Loans and Allowance for Loan Losses (Tables)

3 Months Ended

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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