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Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2021

Loans and Allowances for Loan Losses

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


	March 31,		December 31,
(in thousands)	2021		2020
Commercial, financial, and agricultural (a)	$	251,943	$	272,918
Real estate construction − residential		33,962		29,692
Real estate construction − commercial		78,576		78,144
Real estate mortgage − residential		258,259		262,339
Real estate mortgage − commercial		628,178		617,133
Installment and other consumer		25,267		26,741
Total loans held for investment	$	1,276,185	$	1,286,967

(a)	Includes $56.3 million and $63.3 million SBA PPP loans, net as of March 31, 2021 and December 31, 2020, respectively.

Schedule of summary of the allowance for loan losses


	Three Months Ended March 31, 2021
	Commercial,		Real Estate		Real Estate		Real Estate		Real Estate		Installment
	Financial, &		Construction -		Construction -		Mortgage -		Mortgage -		and Other		Un-
(in thousands)	Agricultural		Residential		Commercial		Residential		Commercial		Consumer		allocated		Total
Balance at beginning of period	$	5,121	$	213	$	475	$	2,679	$	9,354	$	264	$	7	$	18,113
Additions:
Provision for loan losses		(567)		83		57		(253)		573		13		94		—
Deductions:
Loans charged off		27		—		—		—		23		57		—		107
Less recoveries on loans		(149)		(13)		—		(168)		—		(25)		—		(355)
Net loan charge-offs (recoveries)		(122)		(13)		—		(168)		23		32		—		(248)
Balance at end of period	$	4,676	$	309	$	532	$	2,594	$	9,904	$	245	$	101	$	18,361


	Three Months Ended March 31, 2020
	Commercial,		Real Estate		Real Estate		Real Estate		Real Estate		Installment
	Financial, &		Construction -		Construction -		Mortgage -		Mortgage -		and Other		Un-
(in thousands)	Agricultural		Residential		Commercial		Residential		Commercial		Consumer		allocated		Total
Balance at beginning of period	$	2,918	$	64	$	369	$	2,118	$	6,547	$	381	$	80	$	12,477
Additions:
Provision for loan losses		721		53		253		255		2,087		8		(77)		3,300
Deductions:
Loans charged off		41		—		—		19		22		52		—		134
Less recoveries on loans		(25)		—		—		(9)		(2)		(14)		—		(50)
Net loan charge-offs		16		—		—		10		20		38		—		84
Balance at end of period	$	3,623	$	117	$	622	$	2,363	$	8,614	$	351	$	3	$	15,693

Schedule of allowance for loan losses and recorded investment by portfolio segment


	Commercial,		Real Estate		Real Estate		Real Estate		Real Estate		Installment
	Financial, and		Construction -		Construction -		Mortgage -		Mortgage -		and Other		Un-
(in thousands)	Agricultural		Residential		Commercial		Residential		Commercial		Consumer		allocated		Total
March 31, 2021
Allowance for loan losses:
Individually evaluated for impairment	$	2,134	$	26	$	28	$	256	$	2,691	$	9	$	—	$	5,144
Collectively evaluated for impairment		2,542		283		504		2,338		7,213		236		101		13,217
Total	$	4,676	$	309	$	532	$	2,594	$	9,904	$	245	$	101	$	18,361
Loans outstanding:
Individually evaluated for impairment	$	7,408	$	189	$	198	$	3,134	$	25,647	$	71	$	—	$	36,647
Collectively evaluated for impairment		244,535		33,773		78,378		255,125		602,531		25,196		—		1,239,538
Total	$	251,943	$	33,962	$	78,576	$	258,259	$	628,178	$	25,267	$	—	$	1,276,185

December 31, 2020
Allowance for loan losses:
Individually evaluated for impairment	$	2,187	$	27	$	28	$	263	$	2,594	$	14	$	—	$	5,113
Collectively evaluated for impairment		2,934		186		447		2,416		6,760		250		7		13,000
Total	$	5,121	$	213	$	475	$	2,679	$	9,354	$	264	$	7	$	18,113
Loans outstanding:
Individually evaluated for impairment	$	7,552	$	192	$	200	$	3,626	$	25,657	$	108	$	—	$	37,335
Collectively evaluated for impairment		265,366		29,500		77,944		258,713		591,476		26,633		—		1,249,632
Total	$	272,918	$	29,692	$	78,144	$	262,339	$	617,133	$	26,741	$	—	$	1,286,967

Schedule of impaired loans


	March 31,		December 31,
(in thousands)	2021		2020
Non-accrual loans	$	34,233	$	34,559
Performing TDRs		2,414		2,776
Total impaired loans	$	36,647	$	37,335

The following tables provide additional information about impaired loans at March 31, 2021 and December 31, 2020, 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
March 31, 2021
With no related allowance recorded:
Commercial, financial and agricultural	$	1,837	$	1,882	$	—
Real estate mortgage − residential		1,275		1,377		—
Real estate mortgage − commercial		9,457		9,467		—
Total	$	12,569	$	12,726	$	—
With an allowance recorded:
Commercial, financial and agricultural	$	5,571	$	5,645	$	2,134
Real estate construction − residential		189		189		26
Real estate construction − commercial		198		251		28
Real estate mortgage − residential		1,859		2,304		256
Real estate mortgage − commercial		16,190		16,257		2,691
Installment and other consumer		71		75		9
Total	$	24,078	$	24,721	$	5,144
Total impaired loans	$	36,647	$	37,447	$	5,144


			Unpaid
	Recorded		Principal		Specific
(in thousands)	Investment		Balance		Reserves
December 31, 2020
With no related allowance recorded:
Commercial, financial and agricultural	$	1,703	$	1,731	$	—
Real estate mortgage − residential		1,300		1,395		—
Real estate mortgage − commercial		8,943		8,943		—
Total	$	11,946	$	12,069	$	—
With an allowance recorded:
Commercial, financial and agricultural	$	5,849	$	6,180	$	2,187
Real estate construction − residential		192		192		27
Real estate construction − commercial		200		251		28
Real estate mortgage − residential		2,326		2,786		263
Real estate mortgage − commercial		16,714		16,787		2,594
Installment and other consumer		108		112		14
Total	$	25,389	$	26,308	$	5,113
Total impaired loans	$	37,335	$	38,377	$	5,113

The following table presents by class, information related to the average recorded investment and interest income recognized on impaired loans during the periods indicated.


	Three Months Ended March 31,
	2021				2020
			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	$	1,742	$	8	$	1,014	$	—
Real estate construction − commercial		—		—		227		—
Real estate mortgage − residential		1,424		9		1,581		—
Real estate mortgage − commercial		9,457		—		1,163		6
Installment and other consumer		—		—		12		—
Total	$	12,623	$	17	$	3,997	$	6
With an allowance recorded:
Commercial, financial and agricultural	$	5,696	$	7	$	1,195	$	8
Real estate construction − residential		190		—		—		—
Real estate construction − commercial		199		—		—		—
Real estate mortgage − residential		1,958		6		2,550		20
Real estate mortgage − commercial		16,195		7		370		2
Installment and other consumer		85		3		117		6
Total	$	24,323	$	23	$	4,232	$	36
Total impaired loans	$	36,946	$	40	$	8,229	$	42

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, 2021
Commercial, Financial, and Agricultural	$	245,019	$	333	$	—	$	6,591	$	251,943
Real estate construction − residential		33,773		—		—		189		33,962
Real estate construction − commercial		78,378		—		—		198		78,576
Real estate mortgage − residential		255,172		1,170		—		1,917		258,259
Real estate mortgage − commercial		602,502		367		—		25,309		628,178
Installment and Other Consumer		25,181		57		—		29		25,267
Total	$	1,240,025	$	1,927	$	—	$	34,233	$	1,276,185
December 31, 2020
Commercial, Financial, and Agricultural	$	265,821	$	380	$	—	$	6,717	$	272,918
Real estate construction − residential		29,500		—		—		192		29,692
Real estate construction − commercial		77,944		—		—		200		78,144
Real estate mortgage − residential		259,688		546		—		2,105		262,339
Real estate mortgage − commercial		591,815		4		—		25,314		617,133
Installment and Other Consumer		26,576		117		17		31		26,741
Total	$	1,251,344	$	1,047	$	17	$	34,559	$	1,286,967

Schedule of risk categories by class


	Commercial,		Real Estate		Real Estate		Real Estate		Real Estate		Installment
	Financial, &		Construction -		Construction -		Mortgage -		Mortgage -		and other
(in thousands)	Agricultural		Residential		Commercial		Residential		Commercial		Consumer		Total
At March 31, 2021
Watch	$	8,675	$	540	$	7,013	$	15,694	$	71,375	$	—	$	103,297
Substandard		581		—		2,670		954		1,645		—		5,850
Performing TDRs		817		—		—		1,217		338		42		2,414
Non-accrual loans		6,591		189		198		1,917		25,309		29		34,233
Total	$	16,664	$	729	$	9,881	$	19,782	$	98,667	$	71	$	145,794
At December 31, 2020
Watch	$	9,649	$	545	$	10,806	$	15,835	$	66,936	$	—	$	103,771
Substandard		598		—		—		1,002		1,662		—		3,262
Performing TDRs		835		—		—		1,521		343		77		2,776
Non-accrual loans		6,717		192		200		2,105		25,314		31		34,559
Total	$	17,799	$	737	$	11,006	$	20,463	$	94,255	$	108	$	144,368

Schedule of loan modifications provided for under the CARES Act

	Total Remaining Loan Modifications under the CARES Act by NAICS Code as of March 31, 2021
			% of					% of					% of
			Total Remaining			Full		Total Remaining					Total Remaining
	Interest		Loan			Deferral		Loan			Extended		Loan
Industry Category	Only		Modifications			(1)		Modifications			Amortizations		Modifications			Totals
(in thousands)
Real Estate and Rental and Leasing	$	4,521		6.2	%	$	5,790		8.0	%	$	499		0.7	%	$	10,810
Accommodations and Food Services		10,590		14.5			29,007		39.8			4,592		6.3			44,189
Construction		144		0.2			—		—			—		—			144
Lands and lots		1,553		2.1			—		—			—		—			1,553
Cinemas		1,086		1.5			4,691		6.4			—		—			5,777
Arts, Entertainment, Recreation		10,164		14.0			—		—			—		—			10,164
Non-NAICS (Consumer)		—		0.0			161		0.3			—		—			161
Total modifications	$	28,058		38.5	%	$	39,649		54.5	%	$	5,091		7.0	%	$	72,798

Schedule of summary of loans that were modified as TDRs


	Three Months Ended March 31,
	2021					2020
	Recorded Investment (1)					Recorded Investment (1)
	Number of	Pre-		Post-		Number of	Pre-			Post-
(in thousands)	Contracts	Modification		Modification		Contracts	Modification			Modification
Troubled Debt Restructurings
Installment and other consumer	—	$	—	$	—	1	$	6	$		5
Total	—	$	—	$	—	1	$	6		$	5

(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.