Loans (Tables)

12 Months Ended

Dec. 31, 2021

Loans and Leases Receivable Disclosure [Abstract]

Schedule of Composition of Loan Portfolio by Major Loan Classification

The composition of the loan portfolio by major loan classification appears below. Note that all loan balances are presented net of credit and other fair value discounts, when applicable.

(Dollars in thousands)	December 31,			December 31,
	2021			2020
Commercial	$	96,696		$	118,688
Real estate construction and land		79,331			22,509
1-4 family residential mortgages		358,148			132,966
Commercial mortgages		473,632			277,109
Consumer		53,404			58,134
Total loans		1,061,211			609,406
Less: Allowance for loan losses		(5,984	)		(5,455	)
Net loans	$	1,055,227		$	603,951

Summary of Outstanding Principal Balance and Carrying Amount of Loans Acquired in Business Combination

The outstanding principal balance and the carrying amount at December 31, 2021 on these Acquired Loans were as follows:

(Dollars in thousands)	December 31, 2021
	Acquired Loans - Purchased Credit Impaired		Acquired Loans - Purchased Performing		Acquired Loans - Total
Outstanding principal balance	$	76,608	$	372,172	$	448,780
Carrying amount:
Commercial	$	994	$	28,065	$	29,059
Real estate construction and land		18,576		14,297		32,873
1-4 family residential mortgages		16,020		194,708		210,728
Commercial mortgages		28,675		126,638		155,313
Consumer		118		2,224		2,342
Total acquired loans	$	64,383	$	365,932	$	430,315

Summary of Changes in Accretable Yield of Loans Classified as Purchased Credit Impaired

The following table presents a summary of the changes in the accretable yield of loans classified as purchased credit impaired:

(Dollars in thousands)	Twelve Months Ended
	December 31, 2021
Accretable yield, beginning of period	$	—
Additions		15,499
Accretion		(1,757	)
Reclassification from (to) nonaccretable difference		—
Accretable yield, end of period	$	13,742

Schedule of Activity In Related Party Loans

Activity in related party loans during 2021 and 2020 is presented in the following table.

(Dollars in thousands)	2021			2020
Balance outstanding at beginning of year	$	19,070		$	20,300
Principal additions		4,527			9,308
Principal reductions		(7,005	)		(10,538	)
Balance outstanding at end of year	$	16,592		$	19,070

Schedule of Impaired Loans Classified as Non-Accruals by Class

Non-accrual loans are shown below by class:

(Dollars in thousands)	December 31, 2021		December 31, 2020
Land and land development	$	—	$	8
1-4 family residential mortgages		495		-
Total nonaccrual loans	$	495	$	8

Schedule of Aging of Past Due Loans

The following tables show the aging of past due loans as of December 31, 2021 and December 31, 2020.

Past Due Aging as of December 31, 2021	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		PCI		Current		Total Loans		90 Days Past Due and Accruing
(Dollars in thousands)
Commercial	$	385	$	355	$	718	$	1,458	$	994	$	94,244	$	96,696	$	718
Real estate construction and land		873		1,283		-		2,156		18,576		58,599		79,331		-
1-4 family residential mortgages		1,508		100		495		2,103		16,020		340,025		358,148		-
Commercial mortgages		-		-		-		-		28,675		444,957		473,632		-
Consumer loans		345		196		83		624		118		52,662		53,404		83
Total Loans	$	3,111	$	1,934	$	1,296	$	6,341	$	64,383	$	990,487	$	1,061,211	$	801

Past Due Aging as of December 31, 2020	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans		90 Days Past Due and Accruing
(Dollars in thousands)
Commercial	$	1,130	$	470	$	-	$	1,600	$	117,088	$	118,688	$	-
Real estate construction and land		-		-		-		-		22,509		22,509		-
1-4 family residential mortgages		501		-		-		501		132,465		132,966		-
Commercial mortgages		46		-		-		46		277,063		277,109		-
Consumer loans		298		66		137		501		57,633		58,134		137
Total Loans	$	1,975	$	536	$	137	$	2,648	$	606,758	$	609,406	$	137

Schedule of Loans Classified as Impaired Loans

The following tables provide a breakdown by class of the loans classified as impaired loans as of December 31, 2021 and December 31, 2020. These loans are reported at their recorded investment, which is the carrying amount of the loan as reflected on the Company’s balance sheet, net of charge-offs and other amounts applied to reduce the net book balance. Average recorded investment in impaired loans is computed using an average of month-end balances for these loans for the twelve months ended December 31, 2021 and December 31, 2020. Interest income recognized is for the years ended December 31, 2021 and December 31, 2020.

(Dollars in thousands)
December 31, 2021	Recorded Investment		Unpaid Principal Balance		Associated Allowance		Average Recorded Investment		Interest Income Recognized
Impaired loans without a valuation allowance:
Real estate construction and land	$	-	$	37	$	-	$	2	$	-
1-4 family residential mortgages		594		600		-		269		24
Total impaired loans without a valuation    allowance		594		637		-		271		24
Impaired loans with a valuation allowance
Consumer		935		935		6		974		54
Total impaired loans with a valuation    allowance		935		935		6		974		54
Total impaired loans	$	1,529	$	1,572	$	6	$	1,245	$	78

(Dollars in thousands)
December 31, 2020	Recorded Investment		Unpaid Principal Balance		Associated Allowance		Average Recorded Investment		Interest Income Recognized
Impaired loans without a valuation allowance:
Real estate construction and land	$	8	$	55	$	-	$	97	$	-
1-4 family residential mortgages		109		109		-		113		6
Commercial real estate		-		-		-		781		48
Total impaired loans without a valuation    allowance		117		164		-		991		54
Impaired loans with a valuation allowance
Consumer		1,156		1,156		4		1,145		70
Total impaired loans with a valuation    allowance		1,156		1,156		4		1,145		70
Total impaired loans	$	1,273	$	1,320	$	4	$	2,136	$	124

Schedule of Loans Modified Under Terms of a TDR

The following provides a summary, by class, of modified loans that continue to accrue interest under the terms of the restructuring agreement, which are considered to be performing, and modified loans that have been placed in non-accrual status, which are considered to be nonperforming.

Troubled debt restructurings	December 31, 2021				December 31, 2020
(Dollars in thousands)	No. of Loans		Recorded Investment		No. of Loans		Recorded Investment
Performing TDRs
1-4 family residential mortgages		1	$	99		1	$	109
Consumer		58		935		75		1,156
Total performing TDRs		59	$	1,034		76	$	1,265
Nonperforming TDRs
Real estate construction and land development		0	$	-		1	$	8
1-4 family residential mortgages		1		495		0		—
Total nonperforming TDRs		1	$	495		1	$	8
Total TDRs		60	$	1,529		77	$	1,273

Summary of Modified Loans

A summary of loans shown above that were modified as TDRs during the years ended December 31, 2021 and December 31, 2020 is shown below by class. Loans modified as TDRs that were fully paid down, charged-off, or foreclosed upon by period end are not reported. The Post-Modification Recorded Balance reflects any interest or fees from the original loan which may have been added to the principal balance on the new note as a condition of the TDR. Additionally, the Post-Modification Recorded Balance is reported

below at the period end balances, inclusive of all partial principal pay downs and principal charge-offs since the modification date.

	During year ended						During year ended
(Dollars in thousands)	December 31, 2021						December 31, 2020
	Number of Loans		Pre- Modification Recorded Balance		Post- Modification Recorded Balance		Number of Loans		Pre- Modification Recorded Balance		Post- Modification Recorded Balance
Consumer loans		12	$	145	$	145		17	$	180	$	180
Total loans modified during the period		12	$	145	$	145		17	$	180	$	180