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Allowance for Loan Losses (Tables)
 6 Months Ended
Jun. 30, 2022
Allowance For Loan Losses [Abstract]  
Internal Risk Rating Grades

The following represents the loan portfolio designated by the internal risk ratings assigned to each credit as of June 30, 2022 and December 31, 2021 (dollars in thousands). There were no loans rated “Doubtful” as of either period.

 

June 30, 2022

 

Excellent

 

 

Good

 

 

Pass

 

 

Watch

 

 

Special
Mention

 

 

Sub-
standard

 

 

TOTAL

 

Commercial

 

$

30,684

 

 

$

14,136

 

 

$

30,445

 

 

$

1,291

 

 

$

110

 

 

$

933

 

 

$

77,599

 

Real estate construction and land

 

 

-

 

 

 

-

 

 

 

47,821

 

 

 

342

 

 

 

1,446

 

 

 

5,531

 

 

 

55,140

 

1-4 family residential mortgages

 

 

-

 

 

 

-

 

 

 

314,514

 

 

 

6,953

 

 

 

839

 

 

 

7,614

 

 

 

329,920

 

Commercial mortgages

 

 

-

 

 

 

-

 

 

 

383,299

 

 

 

45,396

 

 

 

7,416

 

 

 

10,171

 

 

 

446,282

 

Consumer

 

 

470

 

 

 

20,417

 

 

 

29,237

 

 

 

960

 

 

 

101

 

 

 

66

 

 

 

51,251

 

Total Loans

 

$

31,154

 

 

$

34,553

 

 

$

805,316

 

 

$

54,942

 

 

$

9,912

 

 

$

24,315

 

 

$

960,192

 

 

December 31, 2021

 

Excellent

 

 

Good

 

 

Pass

 

 

Watch

 

 

Special
Mention

 

 

Sub-
standard

 

 

TOTAL

 

Commercial

 

$

45,862

 

 

$

13,920

 

 

$

32,460

 

 

$

732

 

 

$

1,645

 

 

$

2,077

 

 

$

96,696

 

Real estate construction and land

 

 

-

 

 

 

-

 

 

 

51,098

 

 

 

7,360

 

 

 

2,849

 

 

 

18,024

 

 

 

79,331

 

1-4 family residential mortgages

 

 

-

 

 

 

2,030

 

 

 

334,300

 

 

 

5,013

 

 

 

1,520

 

 

 

15,285

 

 

 

358,148

 

Commercial mortgages

 

 

-

 

 

 

-

 

 

 

382,108

 

 

 

61,563

 

 

 

8,530

 

 

 

21,431

 

 

 

473,632

 

Consumer

 

 

524

 

 

 

18,535

 

 

 

32,821

 

 

 

1,225

 

 

 

179

 

 

 

120

 

 

 

53,404

 

Total Loans

 

$

46,386

 

 

$

34,485

 

 

$

832,787

 

 

$

75,893

 

 

$

14,723

 

 

$

56,937

 

 

$

1,061,211

 
Summary of Transactions in Allowance for Loan Losses by Major Loan Portfolio Segment

A summary of the transactions in the Allowance for Loan Losses by major loan portfolio segment for the six months ended June 30, 2022 and the year ended December 31, 2021 appears below (dollars in thousands):

 

As of and for the period ended June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Commercial
Loans

 

 

Real Estate
Construction
and Land

 

 

Real Estate
Mortgages

 

 

Consumer
Loans

 

 

Total

 

Allowance for Loan Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of beginning of year

 

$

252

 

 

$

399

 

 

$

4,478

 

 

$

855

 

 

$

5,984

 

Charge-offs

 

 

(243

)

 

 

-

 

 

 

-

 

 

 

(421

)

 

 

(664

)

Recoveries

 

 

136

 

 

 

8

 

 

 

4

 

 

 

104

 

 

 

252

 

Provision for (recovery of) loan losses

 

 

110

 

 

 

(51

)

 

 

(300

)

 

 

172

 

 

 

(69

)

Ending Balance

 

$

255

 

 

$

356

 

 

$

4,182

 

 

$

710

 

 

$

5,503

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending Balance:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated for impairment

 

$

-

 

 

$

-

 

 

$

-

 

 

$

9

 

 

$

9

 

Collectively evaluated for impairment

 

 

255

 

 

 

356

 

 

 

4,182

 

 

 

701

 

 

 

5,494

 

Acquired loans - purchased credit
   impaired

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated for impairment

 

$

-

 

 

$

-

 

 

$

604

 

 

$

835

 

 

$

1,439

 

Collectively evaluated for impairment

 

 

76,897

 

 

 

48,601

 

 

 

739,004

 

 

 

50,325

 

 

 

914,827

 

Acquired loans - purchased credit impaired

 

 

702

 

 

 

6,539

 

 

 

36,594

 

 

 

91

 

 

 

43,926

 

Ending Balance

 

$

77,599

 

 

$

55,140

 

 

$

776,202

 

 

$

51,251

 

 

$

960,192

 

 

As of and for the period ended December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial
Loans

 

 

Real Estate
Construction
and Land

 

 

Real Estate
Mortgages

 

 

Consumer
Loans

 

 

Total

 

Allowance for Loan Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of beginning of year

 

$

209

 

 

$

160

 

 

$

3,897

 

 

$

1,189

 

 

$

5,455

 

Charge-offs

 

 

(147

)

 

 

-

 

 

 

-

 

 

 

(688

)

 

 

(835

)

Recoveries

 

 

191

 

 

 

12

 

 

 

6

 

 

 

141

 

 

 

350

 

Provision for (recovery of) loan losses

 

 

(1

)

 

 

227

 

 

 

575

 

 

 

213

 

 

 

1,014

 

Ending Balance

 

$

252

 

 

$

399

 

 

$

4,478

 

 

$

855

 

 

$

5,984

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending Balance:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated for impairment

 

$

-

 

 

$

-

 

 

$

-

 

 

$

6

 

 

$

6

 

Collectively evaluated for impairment

 

 

252

 

 

 

399

 

 

 

4,478

 

 

 

849

 

 

 

5,978

 

Acquired loans - purchased credit
   impaired

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated for impairment

 

$

-

 

 

$

-

 

 

$

594

 

 

$

935

 

 

$

1,529

 

Collectively evaluated for impairment

 

 

95,702

 

 

 

60,755

 

 

 

786,491

 

 

 

52,351

 

 

 

995,299

 

Acquired loans - purchased credit impaired

 

 

994

 

 

 

18,576

 

 

 

44,695

 

 

 

118

 

 

 

64,383

 

Ending Balance

 

$

96,696

 

 

$

79,331

 

 

$

831,780

 

 

$

53,404

 

 

$

1,061,211

 
Schedule of Aging of Past Due Loans

The following tables show the aging of past due loans as of June 30, 2022 and December 31, 2021 (dollars in thousands).

 

Past Due Aging as of
June 30, 2022

 

30-59 Days

 

 

60-89 Days

 

 

90 Days or More

 

 

Total Past Due

 

 

PCI

 

 

Current

 

 

Total
Loans

 

 

90 Days Past Due and Still Accruing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

762

 

 

$

235

 

 

$

596

 

 

$

1,593

 

 

$

702

 

 

$

75,304

 

 

$

77,599

 

 

$

596

 

Real estate construction and land

 

 

-

 

 

 

206

 

 

 

-

 

 

 

206

 

 

 

6,539

 

 

 

48,395

 

 

 

55,140

 

 

 

-

 

1-4 family residential mortgages

 

 

1,350

 

 

 

-

 

 

 

-

 

 

 

1,350

 

 

 

11,900

 

 

 

316,670

 

 

 

329,920

 

 

 

-

 

Commercial mortgages

 

 

-

 

 

 

154

 

 

 

-

 

 

 

154

 

 

 

24,694

 

 

 

421,434

 

 

 

446,282

 

 

 

-

 

Consumer loans

 

 

207

 

 

 

102

 

 

 

30

 

 

 

339

 

 

 

91

 

 

 

50,821

 

 

 

51,251

 

 

 

30

 

Total Loans

 

$

2,319

 

 

$

697

 

 

$

626

 

 

$

3,642

 

 

$

43,926

 

 

$

912,624

 

 

$

960,192

 

 

$

626

 

 

Past Due Aging as of
December 31, 2021

 

30-59 Days

 

 

60-89 Days

 

 

90 Days or More

 

 

Total Past Due

 

 

PCI

 

 

Current

 

 

Total
Loans

 

 

90 Days Past Due and Still Accruing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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