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Loans and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2024

Receivables [Abstract]

Schedule of Loans, by Major Class Within the Company's Loan Portfolio

Major classifications within the Company’s loans held for investment portfolio at September 30, 2024 and December 31, 2023 were as follows:

(dollars in thousands)			September 30, 2024						December 31, 2023
Commercial, financial, and agricultural			$	202,341					$	226,275
Real estate construction − residential			32,344						58,347
Real estate construction − commercial			65,432						130,296
Real estate mortgage − residential			369,103						372,391
Real estate mortgage − commercial			782,487						731,024
Installment and other consumer			15,044						20,814
Total loans held for investment			$	1,466,751					$	1,539,147

Schedule of the Allowance for Loan Losses

The following tables illustrate the changes in the allowance for credit losses by portfolio segment:

			Three Months Ended September 30, 2024
(dollars 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						Un- allocated						Total
Allowance for Credit Losses on Loans
Balance at beginning of period			$	1,621					$	598					$	1,477					$	5,213					$	12,908					$	163					$	—					$	21,980
Charge-offs			270						—						—						—						343						66						—						679
Recoveries			16						—						—						7						—						20						—						43
Provision for (release of) credit losses			263						(12)						347						62						69						29						(165)						593
Balance at end of period			$	1,630					$	586					$	1,824					$	5,282					$	12,634					$	146					$	(165)					$	21,937
Liability for Unfunded Commitments
Balance at beginning of period			$	91					$	126					$	451					$	110					$	112					$	1					$	—					$	891
Provision for (release of) credit losses on unfunded commitments			13						(27)						(103)						(3)						27						—						—						(93)
Balance at end of period			$	104					$	99					$	348					$	107					$	139					$	1					$	—					$	798
Allowance for credit losses on loans and liability for unfunded commitments			$	1,734					$	685					$	2,172					$	5,389					$	12,773					$	147					$	(165)					$	22,735
			Nine Months Ended September 30, 2024
(dollars 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						Un- allocated						Total
Allowance for Credit Losses on Loans
Balance at beginning of period			$	3,208					$	1,043					$	3,273					$	5,264					$	10,537					$	232					$	187					$	23,744
Charge-offs			2,158						—						—						23						433						196						—						2,810
Recoveries			36						—						—						12						—						80						—						128
Provision for (release of) credit losses			544						(457)						(1,449)						29						2,530						30						(352)						875
Balance at end of period			$	1,630					$	586					$	1,824					$	5,282					$	12,634					$	146					$	(165)					$	21,937
Liability for Unfunded Commitments
Balance at beginning of period			$	197					$	273					$	245					$	103					$	110					$	1					$	18					$	947
Provision for (release of) credit losses on unfunded commitments			(93)						(174)						103						4						29						—						(18)						(149)
Balance at end of period			$	104					$	99					$	348					$	107					$	139					$	1					$	—					$	798
Allowance for credit losses on loans and liability for unfunded commitments			$	1,734					$	685					$	2,172					$	5,389					$	12,773					$	147					$	(165)					$	22,735

			Three Months Ended September 30, 2023
(dollars 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						Un- allocated						Total
Allowance for Credit Losses on Loans
Balance at beginning of period			$	1,844					$	748					$	3,422					$	5,465					$	10,295					$	217					$	245					$	22,236
Charge-offs			16						—						—						—						3						76						—						95
Recoveries			9						—						—						2						1						9						—						21
Provision for (release of) credit losses			99						125						(157)						(153)						440						94						(148)						300
Balance at end of period			$	1,936					$	873					$	3,265					$	5,314					$	10,733					$	244					$	97					$	22,462
Liability for Unfunded Commitments
Balance at beginning of period			$	112					$	355					$	414					$	108					$	126					$	1					$	21					$	1,137
Provision for (release of) credit losses on unfunded commitments			9						(68)						(110)						(4)						(1)						—						(16)						(190)
Balance at end of period			$	121					$	287					$	304					$	104					$	125					$	1					$	5					$	947
Allowance for credit losses on loans and liability for unfunded commitments			$	2,057					$	1,160					$	3,569					$	5,418					$	10,858					$	245					$	102					$	23,409
			Nine Months Ended September 30, 2023
(dollars 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						Un- allocated						Total
Allowance for Credit Losses on Loans
Balance at beginning of period			$	2,735					$	157					$	875					$	3,329					$	8,000					$	326					$	166					$	15,588
Adoption of ASU 2016-13			(649)						291						2,894						1,890						1,613						(80)						(166)						5,793
Balance at January 1, 2023			2,086						448						3,769						5,219						9,613						246						—						21,381
Charge-offs			59						—						—						—						28						204						—						291
Recoveries			183						—						—						6						3						65						—						257
Provision for (release of) credit losses			(274)						425						(504)						89						1,145						137						97						1,115
Balance at end of period			$	1,936					$	873					$	3,265					$	5,314					$	10,733					$	244					$	97					$	22,462
Liability for Unfunded Commitments
Balance at beginning of period			$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Adoption of ASU 2016-13			104						341						569						107						150						1						—						1,272
Balance at January 1, 2023			104						341						569						107						150						1						—						1,272
Provision for (release of) credit losses on unfunded commitments			17						(54)						(265)						(3)						(25)						—						5						(325)
Balance at end of period			$	121					$	287					$	304					$	104					$	125					$	1					$	5					$	947
Allowance for credit losses on loans and liability for unfunded commitments			$	2,057					$	1,160					$	3,569					$	5,418					$	10,858					$	245					$	102					$	23,409

Schedule of Risk Categories by Class

The amortized cost of collateral-dependent loans by class as of September 30, 2024 and December 31, 2023 was as follows:

			Collateral Type
(dollars in thousands)			Real Estate						Other						Allowance Allocated
September 30, 2024
Commercial, financial, and agricultural			$	—					$	1,240					$	124
Real estate construction − residential			454						—						194
Real estate mortgage − commercial			65						—						—
Total			$	519					$	1,240					$	318
December 31, 2023
Commercial, financial, and agricultural			$	—					$	2,221					$	1,300
Real estate construction − residential			432						—						164
Real estate mortgage − residential			46						—						19
Real estate mortgage − commercial			2,369						—						—
Total			$	2,847					$	2,221					$	1,483

The following table presents the recorded investment by risk categories at September 30, 2024:

			Term Loans
			Amortized Cost Basis by Origination Year and Risk Grades
(dollars in thousands)			2024						2023						2022						2021						2020						Prior						Revolving Loans Amortized Cost Basis						Revolving Loans Converted to Term Loans Amortized Cost Basis						Total
September 30, 2024
Commercial, Financial, & Agricultural
Pass			$	19,766					$	23,289					$	34,214					$	26,690					$	27,620					$	4,127					$	53,944					$	1,595					$	191,245
Watch			—						101						1,460						—						321						267						2,331						—						4,480
Substandard			168						—						3,431						638						—						—						500						—						4,737
Doubtful			—						—						—						15						—						—						—												15
Non-accrual loans			286						357						150						98						37						—						936						—						1,864
Total			$	20,220					$	23,747					$	39,255					$	27,441					$	27,978					$	4,394					$	57,711					$	1,595					$	202,341
Gross YTD charge-offs			—						230						—						89						2						91						1,746						—						2,158
Real Estate Construction - Residential
Pass			$	10,959					$	17,954					$	2,187					$	621					$	169					$	—					$	—					$	—					$	31,890
Non-accrual loans			—						454						—						—						—						—						—						—						454
Total			$	10,959					$	18,408					$	2,187					$	621					$	169					$	—					$	—					$	—					$	32,344
Gross YTD charge-offs			—						—						—						—						—						—						—						—						—
Real Estate Construction - Commercial
Pass			$	38,257					$	8,441					$	11,047					$	4,028					$	633					$	627					$	1,814					$	—					$	64,847
Watch			316						125						14						—						—						—						—						—						455
Substandard			—						75						—						—						—						—						—						—						75
Non-accrual loans			—						—						—						—						—						55						—						—						55
Total			$	38,573					$	8,641					$	11,061					$	4,028					$	633					$	682					$	1,814					$	—					$	65,432
Gross YTD charge-offs			—						—						—						—						—						—						—						—						—
Real Estate Mortgage - Residential
Pass			$	20,351					$	54,317					$	119,466					$	52,519					$	43,373					$	25,791					$	43,632					$	1,179					$	360,628
Watch			5,730						—						41						397						365						700						24						—						7,257
Substandard			65						—						—						—						—						40						—						—						105
Non-accrual loans			—						—						431						89						56						305						232						—						1,113
Total			$	26,146					$	54,317					$	119,938					$	53,005					$	43,794					$	26,836					$	43,888					$	1,179					$	369,103
Gross YTD charge-offs			—						—						—						—						—						1						22						—						23
Real Estate Mortgage - Commercial
Pass			$	41,722					$	121,314					$	215,466					$	207,422					$	74,842					$	60,412					$	16,630					$	51					$	737,859
Watch			2,255						51						4,883						1,993						279						425						76						582						10,544
Special Mention			27,655						—						5,747						—						—						—						—												33,402
Substandard			47						—						206						219						31						—						—						—						503
Non-accrual loans			—						101						78						—						—																		—						179
Total			$	71,679					$	121,466					$	226,380					$	209,634					$	75,152					$	60,837					$	16,706					$	633					$	782,487
Gross YTD charge-offs			—						340						—						65						—						28						—						—						433
Installment and other Consumer
Pass			$	1,965					$	4,192					$	4,179					$	1,467					$	708					$	2,448					$	74					$	—					$	15,033
Non-accrual loans			—						2						9						—						—						—						—						—						11
Total			$	1,965					$	4,194					$	4,188					$	1,467					$	708					$	2,448					$	74					$	—					$	15,044
Gross YTD charge-offs			10						5						9						3						—						168						1						—						196
Total Portfolio
Pass			$	133,020					$	229,507					$	386,559					$	292,747					$	147,345					$	93,405					$	116,094					$	2,825					$	1,401,502
Watch			8,301						277						6,398						2,390						965						1,392						2,431						582						22,736
Special Mention			27,655						—						5,747						—						—						—						—						—						33,402
Substandard			280						75						3,637						857						31						40						500						—						5,420
Doubtful			—						—						—						15						—						—						—						—						15
Non-accrual loans			286						914						668						187						93						360						1,168						—						3,676
Total			$	169,542					$	230,773					$	403,009					$	296,196					$	148,434					$	95,197					$	120,193					$	3,407					$	1,466,751
Total Gross YTD charge-offs			$	10					$	575					$	9					$	157					$	2					$	288					$	1,769					$	—					$	2,810

The following table presents the recorded investment by risk categories at December 31, 2023:

			Term Loans
			Amortized Cost Basis by Origination Year and Risk Grades
(dollars in thousands)			2023						2022						2021						2020						2019						Prior						Revolving Loans Amortized Cost Basis						Revolving Loans Converted to Term Loans Amortized Cost Basis						Total
December 31, 2023
Commercial, Financial, & Agricultural
Pass			$	40,103					$	43,082					$	32,812					$	30,965					$	4,774					$	5,022					$	55,379					$	213					$	212,350
Watch			1						2,505						32						586						3						282						2,502						—						5,911
Substandard			371						3,758						19						16						—						—						323						1,299						5,786
Non-accrual loans			159						96						317						—						7						—						1,649						—						2,228
Total			$	40,634					$	49,441					$	33,180					$	31,567					$	4,784					$	5,304					$	59,853					$	1,512					$	226,275
Gross YTD charge-offs			—						1						—						—						—						160						—						—						161
Real Estate Construction - Residential
Pass			$	39,847					$	17,259					$	634					$	175					$	—					$	—					$	—					$	—					$	57,915
Non-accrual loans			432						—						—						—						—						—						—						—						432
Total			$	40,279					$	17,259					$	634					$	175					$	—					$	—					$	—					$	—					$	58,347
Gross YTD charge-offs			—						—						—						—						—						—						—						—						—
Real Estate Construction - Commercial
Pass			$	49,041					$	53,058					$	24,371					$	1,040					$	31					$	735					$	187					$	—					$	128,463
Watch			934						17						—						—						—						—						103						—						1,054
Substandard			710						—						—						—						—						—						—						—						710
Non-accrual loans			—						—						—						—						—						69						—						—						69
Total			$	50,685					$	53,075					$	24,371					$	1,040					$	31					$	804					$	290					$	—					$	130,296
Gross YTD charge-offs			—						—						—						—						—						—						—						—						—
Real Estate Mortgage - Residential
Pass			$	65,472					$	121,430					$	62,998					$	47,884					$	7,242					$	19,193					$	44,574					$	202					$	368,995
Watch			179						251						411						293						71						1,310						23						—						2,538
Substandard			16						—						—						129						—						126						—						—						271
Non-accrual loans			—						23						93						135						—						246						90						—						587
Total			$	65,667					$	121,704					$	63,502					$	48,441					$	7,313					$	20,875					$	44,687					$	202					$	372,391
Gross YTD charge-offs			—						—						—						75						—						—						13						—						88
Real Estate Mortgage - Commercial
Pass			$	99,081					$	208,699					$	204,789					$	84,363					$	27,085					$	39,941					$	16,059					$	659					$	680,676
Watch			15,759						10,978						2,737						91						345						897						70						—						30,877
Substandard			—						215						15,944						—						45						289						—						—						16,493
Non-accrual loans			1,817						54						712						212						83						—						100						—						2,978
Total			$	116,657					$	219,946					$	224,182					$	84,666					$	27,558					$	41,127					$	16,229					$	659					$	731,024
Gross YTD charge-offs			—						—						—						—						—						32						—						—						32
Installment and other Consumer
Pass			$	7,430					$	6,497					$	2,720					$	1,287					$	987					$	1,803					$	90					$	—					$	20,814
Total			$	7,430					$	6,497					$	2,720					$	1,287					$	987					$	1,803					$	90					$	—					$	20,814
Gross YTD charge-offs			84						23						7						—						—						232						1						—						347
Total Portfolio
Pass			$	300,974					$	450,025					$	328,324					$	165,714					$	40,119					$	66,694					$	116,289					$	1,074					$	1,469,213
Watch			16,873						13,751						3,180						970						419						2,489						2,698						—						40,380
Substandard			1,097						3,973						15,963						145						45						415						323						1,299						23,260
Non-accrual loans			2,408						173						1,122						347						90						315						1,839						—						6,294
Total			$	321,352					$	467,922					$	348,589					$	167,176					$	40,673					$	69,913					$	121,149					$	2,373					$	1,539,147
Total Gross YTD charge-offs			$	84					$	24					$	7					$	75					$	—					$	424					$	14					$	—					$	628

Schedule of Financing Receivable, Nonaccrual

The following table presents the recorded investment in non-accrual loans and loans past due over 90 days still on accrual by class of loans as of September 30, 2024 and December 31, 2023:

(dollars in thousands)			Non-accrual with no Allowance						Non-accrual with Allowance						Total Non-accrual						90 Days Past Due And Still Accruing						Total Non-performing Loans
September 30, 2024
Commercial, Financial, and Agricultural			$	474					$	1,405					$	1,879					$	—					$	1,879
Real estate construction − residential			—						454						454						—						454
Real estate construction − commercial			—						55						55						—						55
Real estate mortgage − residential			—						1,113						1,113						373						1,486
Real estate mortgage − commercial			—						179						179						—						179
Installment and Other Consumer			—						11						11						2						13
Total			$	474					$	3,217					$	3,691					$	375					$	4,066
December 31, 2023
Commercial, Financial, and Agricultural			$	—					$	2,228					$	2,228					$	—					$	2,228
Real estate construction − residential			—						432						432						—						432
Real estate construction − commercial			—						69						69						—						69
Real estate mortgage − residential			—						587						587						115						702
Real estate mortgage − commercial			2,368						610						2,978						—						2,978
Installment and Other Consumer			—						—						—						4						4
Total			$	2,368					$	3,926					$	6,294					$	119					$	6,413

Schedule of Aging Information for the Company's Past Due and Non-Accrual Loans

The following table provides aging information for the Company’s past due and non-accrual loans at September 30, 2024 and December 31, 2023.

(dollars in thousands)			Current or Less Than 30 Days Past Due						30 - 89 Days Past Due						90 Days Past Due And Still Accruing						Non-Accrual						Total
September 30, 2024
Commercial, Financial, and Agricultural			$	200,451					$	11					$	—					$	1,879					$	202,341
Real estate construction − residential			31,487						403						—						454						32,344
Real estate construction − commercial			65,251						126						—						55						65,432
Real estate mortgage − residential			366,695						922						373						1,113						369,103
Real estate mortgage − commercial			782,210						98						—						179						782,487
Installment and Other Consumer			14,957						74						2						11						15,044
Total			$	1,461,051					$	1,634					$	375					$	3,691					$	1,466,751
December 31, 2023
Commercial, Financial, and Agricultural			$	223,845					$	202					$	—					$	2,228					$	226,275
Real estate construction − residential			57,568						347						—						432						58,347
Real estate construction − commercial			130,227						—						—						69						130,296
Real estate mortgage − residential			368,956						2,733						115						587						372,391
Real estate mortgage − commercial			728,029						17						—						2,978						731,024
Installment and Other Consumer			20,607						203						4						—						20,814
Total			$	1,529,232					$	3,502					$	119					$	6,294					$	1,539,147

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- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

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X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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-SubTopic 10
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X

- Definition

Tabular disclosure of aging analysis for financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
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-Topic 326
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-Topic 326
-SubTopic 20
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- References

No definition available.

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- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.5-02(4))
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- Definition

Tabular disclosure of financing receivable on nonaccrual status.

+ References

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-Topic 310
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-Topic 326
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-Name Accounting Standards Codification
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-Paragraph 16
-Publisher FASB
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