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Loans and Allowance for Loan Losses (Tables) | 3 Months Ended
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Mar. 31, 2020
Allowance For Loan And Lease Losses Writeoffs Net [Abstract] |
Schedule of Loan Portfolio | As of March 31, 2020 and December 31, 2019, the composition of the loan portfolio by reporting segment and portfolio segment was as follows:
|  | March 31, 2020 |
|  | Bank |  |  | ALC |  |  | Total |
|  | (Dollars in Thousands) |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | 31,927 |  |  | $ | — |  |  | $ | 31,927 |
Secured by 1-4 family residential properties |  |  | 95,166 |  |  |  | 5,020 |  |  |  | 100,186 |
Secured by multi-family residential properties |  |  | 44,029 |  |  |  | — |  |  |  | 44,029 |
Secured by non-farm, non-residential properties |  |  | 156,222 |  |  |  | — |  |  |  | 156,222 |
Commercial and industrial loans (1) |  |  | 80,771 |  |  |  | — |  |  |  | 80,771 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |
Direct consumer |  |  | 7,839 |  |  |  | 28,468 |  |  |  | 36,307 |
Branch retail |  |  | — |  |  |  | 31,568 |  |  |  | 31,568 |
Indirect sales (2) |  |  | 69,982 |  |  |  | — |  |  |  | 69,982 |
Total loans |  |  | 485,936 |  |  |  | 65,056 |  |  |  | 550,992 |
Less: Unearned interest, fees and deferred cost |  |  | 257 |  |  |  | 5,096 |  |  |  | 5,353 |
Allowance for loan losses |  |  | 4,068 |  |  |  | 1,886 |  |  |  | 5,954 |
Net loans |  | $ | 481,611 |  |  | $ | 58,074 |  |  | $ | 539,685 |
|  | December 31, 2019 |
|  | Bank |  |  | ALC |  |  | Total |
|  | (Dollars in Thousands) |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | 30,820 |  |  | $ | — |  |  | $ | 30,820 |
Secured by 1-4 family residential properties |  |  | 98,971 |  |  |  | 5,566 |  |  |  | 104,537 |
Secured by multi-family residential properties |  |  | 50,910 |  |  |  | — |  |  |  | 50,910 |
Secured by non-farm, non-residential properties |  |  | 162,981 |  |  |  | — |  |  |  | 162,981 |
Commercial and industrial loans (1) |  |  | 90,957 |  |  |  | — |  |  |  | 90,957 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |
Direct consumer |  |  | 7,816 |  |  |  | 30,224 |  |  |  | 38,040 |
Branch retail |  |  | — |  |  |  | 32,305 |  |  |  | 32,305 |
Indirect sales (2) |  |  | — |  |  |  | 45,503 |  |  |  | 45,503 |
Total loans |  |  | 442,455 |  |  |  | 113,598 |  |  |  | 556,053 |
Less: Unearned interest, fees and deferred cost |  |  | 262 |  |  |  | 4,786 |  |  |  | 5,048 |
Allowance for loan losses |  |  | 3,483 |  |  |  | 2,279 |  |  |  | 5,762 |
Net loans |  | $ | 438,710 |  |  | $ | 106,533 |  |  | $ | 545,243 |
| (1) | Includes equipment financing leases.
| (2) | Effective January 1, 2020, the Company transferred a total of $45.5 million of its indirect sales portfolio from ALC to the Bank.
Summary of Acquired Loans | The carrying amount of PCI loans, which is included within loans on the balance sheet, is set forth in the table below as of March 31, 2020 and December 31, 2019:
|  | March 31, 2020 |  |  | December 31, 2019 |
|  | (Dollars in Thousands) |
Real estate loans: |  |  |  |  |  |  |  |
Secured by 1-4 family residential properties |  | $ | 219 |  |  | $ | 224 |
Outstanding balance |  |  | 219 |  |  |  | 224 |
Fair value adjustment |  |  | (48 | ) |  |  | (49 | )
Carrying amount, net of fair value adjustment |  | $ | 171 |  |  | $ | 175 |
Allowance for Loan Losses | The following tables present changes in the allowance for loan losses during the three months ended March 31, 2020 and 2019 and the related loan balances by loan type as of March 31, 2020 and 2019:
|  | As of and for the Three Months Ended March 31, 2020 |
|  | Construction, Land Development, and Other |  |  | 1-4 Family |  |  | Real Estate Multi- Family |  |  | Non- Farm Non- Residential |  |  | Commercial and Industrial |  |  | Direct Consumer |  |  | Branch Retail |  |  | Indirect Sales |  |  | Total |
|  | (Dollars in Thousands) |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 197 |  |  | $ | 466 |  |  | $ | 422 |  |  | $ | 964 |  |  | $ | 1,377 |  |  | $ | 1,625 |  |  | $ | 395 |  |  | $ | 316 |  |  | $ | 5,762 |
Charge-offs |  |  | — |  |  |  | (20 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (492 | ) |  |  | (142 | ) |  |  | — |  |  |  | (654 | )
Recoveries |  |  | — |  |  |  | 12 |  |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | 205 |  |  |  | 44 |  |  |  | — |  |  |  | 266 |
Provision |  |  | 68 |  |  |  | 67 |  |  |  | 16 |  |  |  | 217 |  |  |  | (612 | ) |  |  | 169 |  |  |  | 142 |  |  |  | 513 |  |  |  | 580 |
Ending balance |  | $ | 265 |  |  | $ | 525 |  |  | $ | 438 |  |  | $ | 1,186 |  |  | $ | 765 |  |  | $ | 1,507 |  |  | $ | 439 |  |  | $ | 829 |  |  | $ | 5,954 |
Ending balance of allowance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | — |  |  | $ | 14 |  |  | $ | — |  |  | $ | — |  |  | $ | 63 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 80 |
Collectively evaluated for impairment |  |  | 265 |  |  |  | 511 |  |  |  | 438 |  |  |  | 1,186 |  |  |  | 702 |  |  |  | 1,504 |  |  |  | 439 |  |  |  | 829 |  |  |  | 5,874 |
Total allowance for loan losses |  | $ | 265 |  |  | $ | 525 |  |  | $ | 438 |  |  | $ | 1,186 |  |  | $ | 765 |  |  | $ | 1,507 |  |  | $ | 439 |  |  | $ | 829 |  |  | $ | 5,954 |
Ending balance of loans receivable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | — |  |  | $ | 789 |  |  | $ | — |  |  | $ | 2,754 |  |  | $ | 63 |  |  | $ | 26 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,632 |
Collectively evaluated for impairment |  |  | 31,927 |  |  |  | 99,226 |  |  |  | 44,029 |  |  |  | 153,468 |  |  |  | 80,708 |  |  |  | 36,281 |  |  |  | 31,568 |  |  |  | 69,982 |  |  |  | 547,189 |
Loans acquired with deteriorated credit quality |  |  | — |  |  |  | 171 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 171 |
Total loans receivable |  | $ | 31,927 |  |  | $ | 100,186 |  |  | $ | 44,029 |  |  | $ | 156,222 |  |  | $ | 80,771 |  |  | $ | 36,307 |  |  | $ | 31,568 |  |  | $ | 69,982 |  |  | $ | 550,992 |
|  | As of and for the Three Months Ended March 31, 2019 |
|  | Construction, Land Development, and Other |  |  | 1-4 Family |  |  | Real Estate Multi- Family |  |  | Non- Farm Non- Residential |  |  | Commercial and Industrial |  |  | Direct Consumer |  |  | Branch Retail |  |  | Indirect Sales |  |  | Total |
|  | (Dollars in Thousands) |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 241 |  |  | $ | 346 |  |  | $ | 128 |  |  | $ | 831 |  |  | $ | 1,138 |  |  | $ | 1,799 |  |  | $ | 427 |  |  | $ | 145 |  |  | $ | 5,055 |
Charge-offs |  |  | — |  |  |  | (53 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (536 | ) |  |  | (98 | ) |  |  | (52 | ) |  |  | (739 | )
Recoveries |  |  | — |  |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 173 |  |  |  | 25 |  |  |  | — |  |  |  | 208 |
Provision |  |  | (59 | ) |  |  | 79 |  |  |  | 32 |  |  |  | (58 | ) |  |  | 44 |  |  |  | 232 |  |  |  | 55 |  |  |  | 75 |  |  |  | 400 |
Ending balance |  | $ | 182 |  |  | $ | 381 |  |  | $ | 160 |  |  | $ | 773 |  |  | $ | 1,183 |  |  | $ | 1,668 |  |  | $ | 409 |  |  | $ | 168 |  |  | $ | 4,924 |
Ending balance of allowance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 98 |  |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | 66 |  |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | 196 |
Collectively evaluated for impairment |  |  | 84 |  |  |  | 365 |  |  |  | 160 |  |  |  | 773 |  |  |  | 1,117 |  |  |  | 1,652 |  |  |  | 409 |  |  |  | 168 |  |  |  | 4,728 |
Total allowance for loan losses |  | $ | 182 |  |  | $ | 381 |  |  | $ | 160 |  |  | $ | 773 |  |  | $ | 1,183 |  |  | $ | 1,668 |  |  | $ | 409 |  |  | $ | 168 |  |  | $ | 4,924 |
Ending balance of loans receivable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 421 |  |  | $ | 919 |  |  | $ | — |  |  | $ | 510 |  |  | $ | 66 |  |  | $ | 38 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,954 |
Collectively evaluated for impairment |  |  | 27,520 |  |  |  | 105,885 |  |  |  | 27,602 |  |  |  | 156,513 |  |  |  | 87,799 |  |  |  | 36,254 |  |  |  | 27,066 |  |  |  | 42,280 |  |  |  | 510,919 |
Loans acquired with deteriorated credit quality |  |  | 73 |  |  |  | 187 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 260 |
Total loans receivable |  | $ | 28,014 |  |  | $ | 106,991 |  |  | $ | 27,602 |  |  | $ | 157,023 |  |  | $ | 87,865 |  |  | $ | 36,292 |  |  | $ | 27,066 |  |  | $ | 42,280 |  |  | $ | 513,133 |
Loans By Credit Quality Indicators | The tables below illustrate the carrying amount of loans by credit quality indicator as of March 31, 2020:
|  | March 31, 2020 |
|  | Pass 1-5 |  |  | Special Mention 6 |  |  | Substandard 7 |  |  | Total |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | 31,849 |  |  | $ | 78 |  |  | $ | — |  |  | $ | 31,927 |
Secured by multi-family residential properties |  |  | 44,029 |  |  |  | — |  |  |  | — |  |  |  | 44,029 |
Secured by non-farm, non-residential properties |  |  | 151,142 |  |  |  | 2,814 |  |  |  | 2,266 |  |  |  | 156,222 |
Commercial and industrial loans |  |  | 79,554 |  |  |  | 747 |  |  |  | 470 |  |  |  | 80,771 |
Total |  | $ | 306,574 |  |  | $ | 3,639 |  |  | $ | 2,736 |  |  | $ | 312,949 |
|  | March 31, 2020 |
|  | Performing |  |  | Nonperforming |  |  | Total |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |
Secured by 1-4 family residential properties |  | $ | 98,051 |  |  | $ | 2,135 |  |  | $ | 100,186 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |
Direct consumer |  |  | 35,765 |  |  |  | 542 |  |  |  | 36,307 |
Branch retail |  |  | 31,332 |  |  |  | 236 |  |  |  | 31,568 |
Indirect sales |  |  | 69,952 |  |  |  | 30 |  |  |  | 69,982 |
Total |  | $ | 235,100 |  |  | $ | 2,943 |  |  | $ | 238,043 |
The above amounts include PCI loans. As of March 31, 2020, $0.2 million of PCI loans were classified as “Nonperforming.” The tables below illustrate the carrying amount of loans by credit quality indicator as of December 31, 2019:
|  | December 31, 2019 |
|  | Pass 1-5 |  |  | Special Mention 6 |  |  | Substandard 7 |  |  | Total |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | 30,466 |  |  | $ | 354 |  |  | $ | — |  |  | $ | 30,820 |
Secured by multi-family residential properties |  |  | 50,910 |  |  |  | — |  |  |  | — |  |  |  | 50,910 |
Secured by non-farm, non-residential properties |  |  | 157,718 |  |  |  | 2,961 |  |  |  | 2,302 |  |  |  | 162,981 |
Commercial and industrial loans |  |  | 88,463 |  |  |  | 714 |  |  |  | 1,780 |  |  |  | 90,957 |
Total |  | $ | 327,557 |  |  | $ | 4,029 |  |  | $ | 4,082 |  |  | $ | 335,668 |
|  | December 31, 2019 |
|  | Performing |  |  | Nonperforming |  |  | Total |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |
Secured by 1-4 family residential properties |  | $ | 102,176 |  |  | $ | 2,361 |  |  | $ | 104,537 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |
Direct consumer |  |  | 37,474 |  |  |  | 566 |  |  |  | 38,040 |
Branch retail |  |  | 32,024 |  |  |  | 281 |  |  |  | 32,305 |
Indirect sales |  |  | 45,503 |  |  |  | — |  |  |  | 45,503 |
Total |  | $ | 217,177 |  |  | $ | 3,208 |  |  | $ | 220,385 |
Aging Analysis of Past Due Loans | The following table provides an aging analysis of past due loans by class as of March 31, 2020:
|  | As of March 31, 2020 |
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days Or Greater |  |  | Total Past Due |  |  | Current |  |  | Total Loans |  |  | Recorded Investment > 90 Days And Accruing |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 31,927 |  |  | $ | 31,927 |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 588 |  |  |  | 35 |  |  |  | 127 |  |  |  | 750 |  |  |  | 99,436 |  |  |  | 100,186 |  |  |  | — |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 44,029 |  |  |  | 44,029 |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 200 |  |  |  | — |  |  |  | 1,416 |  |  |  | 1,616 |  |  |  | 154,606 |  |  |  | 156,222 |  |  |  | — |
Commercial and industrial loans |  |  | 1,266 |  |  |  | 378 |  |  |  | — |  |  |  | 1,644 |  |  |  | 79,127 |  |  |  | 80,771 |  |  |  | — |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct consumer |  |  | 318 |  |  |  | 273 |  |  |  | 542 |  |  |  | 1,133 |  |  |  | 35,174 |  |  |  | 36,307 |  |  |  | — |
Branch retail |  |  | 252 |  |  |  | 122 |  |  |  | 237 |  |  |  | 611 |  |  |  | 30,957 |  |  |  | 31,568 |  |  |  | — |
Indirect sales |  |  | 261 |  |  |  | 19 |  |  |  | 30 |  |  |  | 310 |  |  |  | 69,672 |  |  |  | 69,982 |  |  |  | — |
Total |  | $ | 2,885 |  |  | $ | 827 |  |  | $ | 2,352 |  |  | $ | 6,064 |  |  | $ | 544,928 |  |  | $ | 550,992 |  |  | $ | — |
The above amounts include PCI loans. As of March 31, 2020, $0.2 million of PCI loans were 60-89 days past due. The following table provides an aging analysis of past due loans by class as of December 31, 2019:
|  | As of December 31, 2019 |
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days Or Greater |  |  | Total Past Due |  |  | Current |  |  | Total Loans |  |  | Recorded Investment > 90 Days And Accruing |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 30,820 |  |  | $ | 30,820 |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 259 |  |  |  | 108 |  |  |  | 844 |  |  |  | 1,211 |  |  |  | 103,326 |  |  |  | 104,537 |  |  |  | — |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 50,910 |  |  |  | 50,910 |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 30 |  |  |  | — |  |  |  | 1,419 |  |  |  | 1,449 |  |  |  | 161,532 |  |  |  | 162,981 |  |  |  | — |
Commercial and industrial loans |  |  | 56 |  |  |  | — |  |  |  | — |  |  |  | 56 |  |  |  | 90,901 |  |  |  | 90,957 |  |  |  | — |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct consumer |  |  | 387 |  |  |  | 287 |  |  |  | 531 |  |  |  | 1,205 |  |  |  | 36,835 |  |  |  | 38,040 |  |  |  | — |
Branch retail |  |  | 444 |  |  |  | 189 |  |  |  | 281 |  |  |  | 914 |  |  |  | 31,391 |  |  |  | 32,305 |  |  |  | — |
Indirect sales |  |  | 132 |  |  |  | — |  |  |  | — |  |  |  | 132 |  |  |  | 45,371 |  |  |  | 45,503 |  |  |  | — |
Total |  | $ | 1,308 |  |  | $ | 584 |  |  | $ | 3,075 |  |  | $ | 4,967 |  |  | $ | 551,086 |  |  | $ | 556,053 |  |  | $ | — |
The above amounts include PCI loans. As of December 31, 2019, $0.2 million of PCI loans were 60-89 days past due.
Non-accruing Loans | The following table provides an analysis of non-accruing loans by class as of March 31, 2020 and December 31, 2019:
|  | Loans on Non-Accrual Status |
|  | March 31, 2020 |  |  | December 31, 2019 |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | 8 |  |  | $ | 8 |
Secured by 1-4 family residential properties |  |  | 1,372 |  |  |  | 1,423 |
Secured by multi-family residential properties |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 1,423 |  |  |  | 1,426 |
Commercial and industrial loans |  |  | 72 |  |  |  | 27 |
Consumer loans: |  |  |  |  |  |  |  |
Direct consumer |  |  | 553 |  |  |  | 558 |
Branch retail |  |  | 237 |  |  |  | 281 |
Indirect sales |  |  | 30 |  |  |  | — |
Total loans |  | $ | 3,695 |  |  | $ | 3,723 |
Summarizes of All COVID19 Loan Payment Deferment and the Percentage of Loans | The table below summarizes all COVID-19 loan payment deferments made by the Company through April 30, 2020 and the percentages of these loans respective to the related portfolio balances as of March 31, 2020.
|  | As of April 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Number of Loans Deferred |  |  | Principal Balance of Loans Deferred |  |  | % of Portfolio Balance as of March 31, 2020 |  |  | Principal and Interest Deferments |  |  | Principal Only Deferments |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  |  | 3 |  |  | $ | 16,666 |  |  |  | 52.2 | % |  | $ | 9,513 |  |  | $ | 7,153 |
Secured by 1-4 family residential properties |  |  | 71 |  |  |  | 11,549 |  |  |  | 11.5 | % |  |  | 9,368 |  |  |  | 2,181 |
Secured by multi-family residential properties |  |  | 11 |  |  |  | 24,482 |  |  |  | 55.6 | % |  |  | 5,421 |  |  |  | 19,061 |
Secured by non-farm, non-residential properties |  |  | 53 |  |  |  | 49,851 |  |  |  | 31.9 | % |  |  | 45,575 |  |  |  | 4,276 |
Commercial and industrial loans |  |  | 12 |  |  |  | 1,645 |  |  |  | 2.0 | % |  |  | 1,255 |  |  |  | 390 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct consumer |  |  | 830 |  |  |  | 3,774 |  |  |  | 10.4 | % |  |  | 3,774 |  |  |  | — |
Branch retail |  |  | 283 |  |  |  | 2,825 |  |  |  | 8.9 | % |  |  | 2,825 |  |  |  | — |
Indirect sales |  |  | 170 |  |  |  | 4,198 |  |  |  | 6.0 | % |  |  | 4,198 |  |  |  | — |
Total loans |  |  | 1,433 |  |  | $ | 114,990 |  |  |  | 20.9 | % |  | $ | 81,929 |  |  | $ | 33,061 |
Summarizes the At Risk Categories and the Relative Percentage of the Loan Portfolio | The table below summarizes the “at-risk” categories and the relative percentage of the Company’s loan portfolio for each as of March 31, 2020.
|  | March 31, 2020 |
At-Risk Loan Category Due to COVID-19 |  | Balance of Risk Category |  |  | % of Total Loan Balance |
|  | (Dollars in Thousands) |
High-risk loan categories: |  |  |  |  |  |  |  |
Hotels/motels |  | $ | 10,479 |  |  |  | 1.9 | %
Dine-in restaurants |  |  | 4,508 |  |  |  | 0.8 | %
Total high-risk loans |  |  | 14,987 |  |  |  | 2.7 | %
Moderate-risk loan categories: |  |  |  |  |  |  |  |
Fast food restaurants |  |  | 5,067 |  |  |  | 0.9 | %
Retail |  |  | 34,073 |  |  |  | 6.2 | %
1-4 family investment |  |  | 25,620 |  |  |  | 4.7 | %
Total moderate-risk loans |  |  | 64,760 |  |  |  | 11.8 | %
Total at-risk loans |  | $ | 79,747 |  |  |  | 14.5 | %
Impaired Loans | As of March 31, 2020, the carrying amount of the Company’s impaired loans consisted of the following:
|  | March 31, 2020 |
|  | Carrying Amount |  |  | Unpaid Principal Balance |  |  | Related Allowances |
|  | (Dollars in Thousands) |
Impaired loans with no related allowance recorded |  |  |  |  |  |  |  |  |  |  |  |
Loans secured by real estate |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 940 |  |  |  | 940 |  |  |  | — |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 2,754 |  |  |  | 2,754 |  |  |  | — |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | — |
Direct consumer |  |  | — |  |  |  | — |  |  |  | — |
Total loans with no related allowance recorded |  | $ | 3,694 |  |  | $ | 3,694 |  |  | $ | — |
Impaired loans with an allowance recorded |  |  |  |  |  |  |  |  |  |  |  |
Loans secured by real estate |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 20 |  |  |  | 20 |  |  |  | 14 |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | — |  |  |  | — |  |  |  | — |
Commercial and industrial |  |  | 63 |  |  |  | 63 |  |  |  | 63 |
Direct consumer |  |  | 26 |  |  |  | 26 |  |  |  | 3 |
Total loans with an allowance recorded |  | $ | 109 |  |  | $ | 109 |  |  | $ | 80 |
Total impaired loans |  |  |  |  |  |  |  |  |  |  |  |
Loans secured by real estate |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 960 |  |  |  | 960 |  |  |  | 14 |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 2,754 |  |  |  | 2,754 |  |  |  | — |
Commercial and industrial |  |  | 63 |  |  |  | 63 |  |  |  | 63 |
Direct consumer |  |  | 26 |  |  |  | 26 |  |  |  | 3 |
Total impaired loans |  | $ | 3,803 |  |  | $ | 3,803 |  |  | $ | 80 |
The above amounts include PCI loans. As of March 31, 2020, PCI loans comprised $0.2 million of impaired loans without a related allowance recorded. As of December 31, 2019, the carrying amount of the Company’s impaired loans consisted of the following:
|  | December 31, 2019 |
|  | Carrying Amount |  |  | Unpaid Principal Balance |  |  | Related Allowances |
|  | (Dollars in Thousands) |
Impaired loans with no related allowance recorded |  |  |  |  |  |  |  |  |  |  |  |
Loans secured by real estate |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 984 |  |  |  | 984 |  |  |  | — |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 1,877 |  |  |  | 1,877 |  |  |  | — |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | — |
Direct consumer |  |  | — |  |  |  | — |  |  |  | — |
Total loans with no related allowance recorded |  | $ | 2,861 |  |  | $ | 2,861 |  |  | $ | — |
Impaired loans with an allowance recorded |  |  |  |  |  |  |  |  |  |  |  |
Loans secured by real estate |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 21 |  |  |  | 21 |  |  |  | 14 |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | — |  |  |  | — |  |  |  | — |
Commercial and industrial |  |  | 206 |  |  |  | 206 |  |  |  | 206 |
Direct consumer |  |  | 29 |  |  |  | 29 |  |  |  | 7 |
Total loans with an allowance recorded |  | $ | 256 |  |  | $ | 256 |  |  | $ | 227 |
Total impaired loans |  |  |  |  |  |  |  |  |  |  |  |
Loans secured by real estate |  | . |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 1,005 |  |  |  | 1,005 |  |  |  | 14 |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 1,877 |  |  |  | 1,877 |  |  |  | — |
Commercial and industrial |  |  | 206 |  |  |  | 206 |  |  |  | 206 |
Direct consumer |  |  | 29 |  |  |  | 29 |  |  |  | 7 |
Total impaired loans |  | $ | 3,117 |  |  | $ | 3,117 |  |  | $ | 227 |
The average net investment in impaired loans and interest income recognized and received on impaired loans during the three months ended March 31, 2020 and the year ended December 31, 2019 were as follows:
|  | Three Months Ended March 31, 2020 |
|  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Interest Income Received |
|  | (Dollars in Thousands) |
Loans secured by real estate |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 902 |  |  |  | 2 |  |  |  | 2 |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 2,757 |  |  |  | — |  |  |  | — |
Commercial and industrial |  |  | 110 |  |  |  | 2 |  |  |  | 2 |
Direct consumer |  |  | 27 |  |  |  | 1 |  |  |  | 1 |
Total |  | $ | 3,796 |  |  | $ | 5 |  |  | $ | 5 |
|  | Year Ended December 31, 2019 |
|  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Interest Income Received |
|  | (Dollars in Thousands) |
Loans secured by real estate |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | 181 |  |  | $ | — |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 1,021 |  |  |  | 48 |  |  |  | 48 |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 645 |  |  |  | 29 |  |  |  | 29 |
Commercial and industrial |  |  | 991 |  |  |  | 7 |  |  |  | 7 |
Direct consumer |  |  | 38 |  |  |  | 2 |  |  |  | 2 |
Total |  | $ | 2,876 |  |  | $ | 86 |  |  | $ | 86 |
Loans Modified in a Troubled Debt Restructuring | The following table provides, as of March 31, 2020 and December 31, 2019, the number of loans remaining in each loan category that the Company had previously modified in a troubled debt restructuring, as well as the pre- and post-modification principal balance as of each date.
|  | March 31, 2020 |  |  | December 31, 2019 |
|  | Number of Loans |  |  | Pre- Modification Outstanding Principal Balance |  |  | Post- Modification Principal Balance |  |  | Number of Loans |  |  | Pre- Modification Outstanding Principal Balance |  |  | Post- Modification Principal Balance |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  |  | 1 |  |  | $ | 107 |  |  | $ | 59 |  |  |  | 1 |  |  | $ | 107 |  |  | $ | 62 |
Secured by 1-4 family residential properties |  |  | 2 |  |  |  | 59 |  |  |  | 12 |  |  |  | 2 |  |  |  | 59 |  |  |  | 14 |
Commercial loans |  |  | 2 |  |  |  | 116 |  |  |  | 58 |  |  |  | 2 |  |  |  | 116 |  |  |  | 60 |
Total |  |  | 5 |  |  | $ | 282 |  |  | $ | 129 |  |  |  | 5 |  |  | $ | 282 |  |  | $ | 136 |

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