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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
 6 Months Ended
Jun. 30, 2021
Receivables [Abstract]  
Schedule of Accounts Notes Loans and Financial Receivables
Loans are stated at amortized cost. Balances within the major loans receivable categories are presented in the following table:

(dollars in thousands)June 30, 2021December 31, 2020
Commercial, financial and agricultural$1,406,421 $1,627,477 
Consumer installment229,411 306,995 
Indirect automobile397,373 580,083 
Mortgage warehouse841,347 916,353 
Municipal647,578 659,403 
Premium finance780,328 687,841 
Real estate – construction and development1,527,883 1,606,710 
Real estate – commercial and farmland6,051,472 5,300,006 
Real estate – residential2,898,978 2,796,057 
 $14,780,791 $14,480,925 
Summary of Financial Receivable Nonaccrual Basis
The following table presents an analysis of loans accounted for on a nonaccrual basis:

(dollars in thousands)June 30, 2021December 31, 2020
Commercial, financial and agricultural$7,284 $9,836 
Consumer installment503 709 
Indirect automobile1,393 2,831 
Real estate – construction and development1,746 5,407 
Real estate – commercial and farmland17,385 18,517 
Real estate – residential31,610 39,157 
$59,921 $76,457 
The following table presents an analysis of nonaccrual loans with no related allowance for credit losses:

(dollars in thousands)June 30, 2021December 31, 2020
Commercial, financial and agricultural$966 $764 
Real estate – construction and development66 416 
Real estate – commercial and farmland3,621 7,015 
Real estate – residential6,842 5,299 
$11,495 $13,494 
Summary of Past Due Financial Receivables
The following table presents an analysis of past-due loans as of June 30, 2021 and December 31, 2020:

(dollars in thousands)Loans
30-59
Days Past
Due		Loans
60-89
Days
Past Due		Loans 90
or More
Days Past
Due		Total
Loans
Past Due		Current
Loans		Total
Loans		Loans 90
Days or
More Past
Due and
Still
Accruing
June 30, 2021       
Commercial, financial and agricultural$3,070 $1,012 $3,176 $7,258 $1,399,163 $1,406,421 $— 
Consumer installment1,575 1,027 869 3,471 225,940 229,411 556 
Indirect automobile699 345 895 1,939 395,434 397,373 — 
Mortgage warehouse— — — — 841,347 841,347 — 
Municipal— — — — 647,578 647,578 — 
Premium finance3,866 3,853 2,668 10,387 769,941 780,328 2,669 
Real estate – construction and development18,562 1,037 2,764 22,363 1,505,520 1,527,883 1,649 
Real estate – commercial and farmland1,160 618 6,412 8,190 6,043,282 6,051,472 — 
Real estate – residential10,093 4,608 27,883 42,584 2,856,394 2,898,978 — 
Total$39,025 $12,500 $44,667 $96,192 $14,684,599 $14,780,791 $4,874 
December 31, 2020       
Commercial, financial and agricultural$4,576 $2,018 $5,652 $12,246 $1,615,231 $1,627,477 $— 
Consumer installment2,189 1,114 2,318 5,621 301,374 306,995 1,755 
Indirect automobile3,293 1,006 2,171 6,470 573,613 580,083 — 
Mortgage warehouse— — — — 916,353 916,353 — 
Municipal— — — — 659,403 659,403 — 
Premium finance7,188 3,895 6,571 17,654 670,187 687,841 6,571 
Real estate – construction and development13,348 723 5,150 19,221 1,587,489 1,606,710 — 
Real estate – commercial and farmland5,370 1,701 8,651 15,722 5,284,284 5,300,006 — 
Real estate – residential20,519 3,125 34,081 57,725 2,738,332 2,796,057 — 
Total$56,483 $13,582 $64,594 $134,659 $14,346,266 $14,480,925 $8,326 
Summary of Impaired Financial Receivables
The following table presents an analysis of individually evaluated collateral-dependent financial assets and related allowance for credit losses:

June 30, 2021December 31, 2020
(dollars in thousands)BalanceAllowance for Credit LossesBalanceAllowance for Credit Losses
Commercial, financial and agricultural$3,246 $889 $5,490 $2,252 
Premium finance258 — 3,523 — 
Real estate – construction and development2,244 693 4,173 512 
Real estate – commercial and farmland83,000 18,494 100,180 21,001 
Real estate – residential10,928 1,070 9,716 891 
$99,676 $21,146 $123,082 $24,656 
Summary of Credit Quality Indicate Financial Receivable
The following tables present the loan portfolio's amortized cost by class of financing receivable, risk grade and year of origination (in thousands) as of June 30, 2021 and December 31, 2020. Generally, current period renewals of credit are underwritten again at the point of renewal and considered current period originations for purposes of the tables below. The Company had an immaterial amount of revolving loans which converted to term loans and the amortized cost basis of those loans is included in the applicable origination year. There were no loans risk graded 9 at December 31, 2020.

As of June 30, 2021
Term Loans by Origination YearRevolving Loans Amortized Cost Basis
20212020201920182017PriorTotal
Commercial, Financial and Agricultural
Risk Grade:
1$376,496 $140,359 $2,340 $918 $219 $4,915 $125,123 $650,370 
2228 446 8,778 453 766 879 3,789 15,339 
3101,165 63,440 41,678 12,311 15,782 8,307 51,509 294,192 
462,535 67,264 53,086 67,882 26,090 29,502 88,234 394,593 
5181 3,946 3,882 3,713 5,470 4,130 6,821 28,143 
6— 6 461 406 507 4,742 497 6,619 
7375 658 3,940 2,602 3,712 5,096 782 17,165 
Total commercial, financial and agricultural$540,980 $276,119 $114,165 $88,285 $52,546 $57,571 $276,755 $1,406,421 
Consumer Installment
Risk Grade:
1$3,954 $4,203 $2,252 $1,119 $393 $13 $3,099 $15,033 
2— — — 24 1 55 36 116 
311,379 9,354 3,932 1,488 497 1,595 2,943 31,188 
410,160 71,425 41,168 32,182 12,267 10,878 3,130 181,210 
5— 32 75 8 21 160 — 296 
6— — 5 8 — 141 6 160 
710 217 345 166 66 536 66 1,406 
9— — — — — — 2 2 
Total consumer installment$25,503 $85,231 $47,777 $34,995 $13,245 $13,378 $9,282 $229,411 
Indirect Automobile
Risk Grade:
2$— $— $— $68 $26 $4,862 $— $4,956 
3— — 27,695 139,757 132,451 90,484 — 390,387 
6— — — 29 31 85 — 145 
7— — 37 296 327 1,225 — 1,885 
Total indirect automobile$— $— $27,732 $140,150 $132,835 $96,656 $— $397,373 
Mortgage Warehouse
Risk Grade:
3$— $— $— $— $— $— $841,347 $841,347 
Total mortgage warehouse$— $— $— $— $— $— $841,347 $841,347 
As of June 30, 2021
Term Loans by Origination YearRevolving Loans Amortized Cost Basis
20212020201920182017PriorTotal
Municipal
Risk Grade:
1$36,781 $93,621 $13,555 $7,227 $138,378 $192,462 $— $482,024 
21,842 72,018 — — — 12,968 — 86,828 
3— 60,812 650 — 5,453 2,989 — 69,904 
4— 6,140 — — — 2,682 — 8,822 
Total municipal$38,623 $232,591 $14,205 $7,227 $143,831 $211,101 $— $647,578 
Premium Finance
Risk Grade:
2$654,607 $119,382 $2,973 $109 $528 $60 $— $777,659 
7593 2,076 — — — — — 2,669 
Total premium finance$655,200 $121,458 $2,973 $109 $528 $60 $— $780,328 
Real Estate – Construction and Development
Risk Grade:
2$— $62 $— $— $— $— $— $62 
37,884 37,592 6,222 3,962 2,633 8,030 1,038 67,361 
4426,409 451,515 295,524 67,692 42,799 27,869 37,595 1,349,403 
5— 528 16,913 44,673 13,946 27,151 105 103,316 
6— — 21 2,126 — 646 — 2,793 
71,546 13 170 295 624 2,300 — 4,948 
Total real estate – construction and development$435,839 $489,710 $318,850 $118,748 $60,002 $65,996 $38,738 $1,527,883 
Real Estate – Commercial and Farmland
Risk Grade:
1$— $— $— $146 $— $— $— $146 
256,737 7,332 354 448 2,058 12,776 — 79,705 
3566,934 853,282 410,581 171,064 169,835 485,822 43,381 2,700,899 
4227,946 424,926 580,795 432,688 241,782 631,786 31,889 2,571,812 
51,679 17,197 112,473 72,218 133,334 149,037 4,053 489,991 
6462 — 10,369 14,008 29,841 28,571 884 84,135 
72,184 6,791 36,428 16,648 6,430 56,298 5 124,784 
Total real estate – commercial and farmland$855,942 $1,309,528 $1,151,000 $707,220 $583,280 $1,364,290 $80,212 $6,051,472 
Real Estate - Residential
Risk Grade:
1$— $— $— $— $— $15 $— $15 
2— 36 378 — 96 36,139 1,150 37,799 
3611,704 681,564 352,543 157,688 115,923 390,335 186,520 2,496,277 
416,340 12,494 16,410 12,529 8,699 49,078 35,969 151,519 
5532 19,488 43,677 22,071 13,844 54,793 2,787 157,192 
6618 417 933 870 399 3,556 107 6,900 
7408 4,042 12,503 11,053 4,215 14,001 3,054 49,276 
Total real estate - residential$629,602 $718,041 $426,444 $204,211 $143,176 $547,917 $229,587 $2,898,978 
As of December 31, 2020
Term Loans by Origination YearRevolving Loans Amortized Cost Basis
20202019201820172016PriorTotal
Commercial, Financial and Agricultural
Risk Grade:
1$829,710 $2,912 $1,055 $387 $490 $4,961 $36,373 $875,888 
21,213 1,512 668 996 172 967 14,317 19,845 
3109,352 54,266 16,932 17,968 7,027 3,905 68,806 278,256 
486,837 71,645 74,388 37,779 15,359 23,069 85,366 394,443 
54,061 4,269 4,772 7,443 804 5,842 4,352 31,543 
621 72 506 193 3,509 1,232 632 6,165 
73,312 3,460 2,579 3,573 1,294 5,214 1,886 21,318 
8— — — — — — 19 19 
Total commercial, financial and agricultural$1,034,506 $138,136 $100,900 $68,339 $28,655 $45,190 $211,751 $1,627,477 
Consumer Installment
Risk Grade:
1$6,782 $3,001 $1,550 $583 $95 $1 $667 $12,679 
2— — 46 2 — 63 42 153 
315,172 6,960 2,838 887 1,455 601 4,389 32,302 
4120,800 53,593 53,182 16,329 3,121 9,437 3,556 260,018 
549 127 28 30 3 242 8 487 
6— 2 9 — — 145 — 156 
730 209 72 105 134 553 97 1,200 
Total consumer installment$142,833 $63,892 $57,725 $17,936 $4,808 $11,042 $8,759 $306,995 
Indirect Automobile
Risk Grade:
2$— $— $81 $31 $5,356 $3,054 $— $8,522 
3— 35,432 187,656 188,302 103,570 52,781 — 567,741 
6— — 57 70 62 85 — 274 
7— 163 519 561 1,078 1,225 — 3,546 
Total indirect automobile$— $35,595 $188,313 $188,964 $110,066 $57,145 $— $580,083 
Mortgage Warehouse
Risk Grade:
3$— $— $— $— $— $— $916,353 $916,353 
Total mortgage warehouse$— $— $— $— $— $— $916,353 $916,353 
Municipal
Risk Grade:
1$91,692 $12,685 $8,944 $143,741 $124,929 $97,923 $— $479,914 
273,000 — — — 9,410 — — 82,410 
339,990 713 — 5,453 7,204 5,489 — 58,849 
431,394 — — — — 6,836 — 38,230 
Total municipal$236,076 $13,398 $8,944 $149,194 $141,543 $110,248 $— $659,403 
As of December 31, 2020
Term Loans by Origination YearRevolving Loans Amortized Cost Basis
20202019201820172016PriorTotal
Premium Finance
Risk Grade:
2$661,614 $18,236 $515 $746 $121 $38 $— $681,270 
75,811 760 — — — — — 6,571 
Total premium finance$667,425 $18,996 $515 $746 $121 $38 $— $687,841 
Real Estate – Construction and Development
Risk Grade:
3$59,325 $7,035 $6,870 $8,046 $3,415 $6,916 $1,293 $92,900 
4605,254 445,496 205,444 50,181 14,672 26,915 68,574 1,416,536 
51,614 26,720 9,612 13,261 17,712 10,127 107 79,153 
6685 1,036 3,646 1,302 — 4,564 — 11,233 
715 2,858 566 271 42 3,136 — 6,888 
Total real estate – construction and development$666,893 $483,145 $226,138 $73,061 $35,841 $51,658 $69,974 $1,606,710 
Real Estate – Commercial and Farmland
Risk Grade:
1$— $— $161 $— $— $— $— $161 
27,482 540 521 2,131 4,375 10,663 1,138 26,850 
3918,939 370,703 143,591 197,942 224,712 274,665 67,067 2,197,619 
4344,777 584,814 423,241 331,024 242,573 545,745 34,326 2,506,500 
54,027 39,216 69,173 80,726 25,561 94,461 1,274 314,438 
6— 10,680 4,895 28,139 7,670 31,224 — 82,608 
7250 54,439 18,574 15,489 27,044 55,763 271 171,830 
Total real estate – commercial and farmland$1,275,475 $1,060,392 $660,156 $655,451 $531,935 $1,012,521 $104,076 $5,300,006 
Real Estate - Residential
Risk Grade:
1$— $— $— $— $— $19 $— $19 
237 398 12 121 1,275 47,286 1,402 50,531 
3763,101 529,268 254,632 186,531 154,285 388,825 203,491 2,480,133 
419,296 19,874 15,784 11,607 14,240 53,869 44,276 178,946 
5400 1,768 3,489 3,479 1,151 12,824 3,618 26,729 
6527 1,843 1,030 334 724 3,391 255 8,104 
73,442 9,387 12,339 4,667 2,157 16,659 2,944 51,595 
Total real estate - residential$786,803 $562,538 $287,286 $206,739 $173,832 $522,873 $255,986 $2,796,057 
Summary of Troubled Debt Restructurings by Loan Class
The following table presents the loans by class modified as troubled debt restructurings which occurred during the three and six months ended June 30, 2021 and 2020. These modifications did not have a material impact on the Company’s allowance for credit losses.

Three Months Ended June 30,Six Months Ended June 30,
 2021202020212020
Loan Class#
Balance
(in thousands)
#
Balance
(in thousands)
#
Balance
(in thousands)
#
Balance
(in thousands)
Commercial, financial and agricultural2$165 1$731 6$591 1$731 
Consumer installment28 37 28 415 
Real estate – construction and development—— —— —— 120 
Real estate – commercial and farmland38,653 —— 516,312 116 
Real estate – residential2472 5839 121,457 7610,496 
Total9$9,298 9$1,577 25$18,368 83$11,278 
Troubled Debt Restructurings on Financing Receivable Payment Default
The following table presents the outstanding balance of troubled debt restructurings by class that defaulted (defined as 30 days past due) during the three and six months ended June 30, 2021 and 2020. These defaults did not have a material impact on the Company's allowance for credit losses.

Three Months Ended June 30,Six Months Ended June 30,
 2021202020212020
Loan Class#
Balance
(in thousands)
#
Balance
(in thousands)
#
Balance
(in thousands)
#
Balance
(in thousands)
Commercial, financial and agricultural—$— —$— 3$49 1$200 
Consumer installment—— 34 45 34 
Indirect automobile727 —— 22112 —— 
Real estate – construction and development—— —— 11 2285 
Real estate – commercial and farmland1202 —— 35,382 2676 
Real estate – residential17940 4164 271,646 8567 
Total25$1,169 7$168 60$7,195 16$1,732 
Summary of Troubled Debt Restructuring by Loan Class, Classified Separately under Restructured Terms
The following table presents the amount of troubled debt restructurings by loan class classified separately as accrual and nonaccrual at June 30, 2021 and December 31, 2020:

June 30, 2021Accruing LoansNon-Accruing Loans
Loan Class#
Balance
(in thousands)
#
Balance
(in thousands)
Commercial, financial and agricultural12$1,038 10$805 
Consumer installment928 1943 
Indirect automobile3361,647 47301 
Real estate – construction and development5898 4301 
Real estate – commercial and farmland2846,025 117,103 
Real estate – residential23831,570 312,515 
Total628$81,206 122$11,068 

December 31, 2020Accruing LoansNon-Accruing Loans
Loan Class#
Balance
(in thousands)
#
Balance
(in thousands)
Commercial, financial and agricultural9$521 11$849 
Consumer installment1032 2056 
Indirect automobile4372,277 51461 
Real estate – construction and development4506 5707 
Real estate – commercial and farmland2836,707 71,401 
Real estate – residential26438,800 342,671 
Total752$78,843 128$6,145 
Financing Receivable, Schedule Of Short-Term Deferrals
The table below presents short-term deferrals related to the COVID-19 pandemic that were not considered TDRs.

June 30, 2021December 31, 2020
(dollars in thousands)COVID-19 DeferralsDeferrals as a % of total loansCOVID-19 DeferralsDeferrals as a % of total loans
Commercial, financial and agricultural$2,539 0.2 %$12,471 0.8 %
Consumer installment29 — %1,418 0.5 %
Indirect automobile1,126 0.3 %8,936 1.5 %
Real estate – construction and development873 0.1 %11,049 0.7 %
Real estate – commercial and farmland63,827 1.1 %179,183 3.4 %
Real estate – residential59,331 2.0 %119,722 4.3 %
$127,725 0.9 %$332,779 2.3 %
Schedule of Allowances for Loan Losses by Portfolio Segment
The following tables detail activity and end of period balances in the allowance for credit losses by portfolio segment for the periods indicated. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

Three Months Ended June 30, 2021
(dollars in thousands)Commercial,
Financial and
Agricultural		Consumer
Installment		Indirect AutomobileMortgage WarehouseMunicipalPremium Finance
Balance, March 31, 2021$8,291 $8,790 $1,272 $3,521 $790 $4,100 
Provision for loan losses1,502 491 (423)(156)(13)(833)
Loans charged off(3,529)(1,669)(141)— — (1,194)
Recoveries of loans previously charged off625 212 372 — — 2,466 
Balance, June 30, 2021$6,889 $7,824 $1,080 $3,365 $777 $4,539 
Real Estate – Construction and DevelopmentReal Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Balance, March 31, 2021$22,858 $91,211 $37,737 $178,570 
Provision for loan losses(3,757)(3,031)5,321 (899)
Loans charged off(186)(27)(392)(7,138)
Recoveries of loans previously charged off84 185 593 4,537 
Balance, June 30, 2021$18,999 $88,338 $43,259 $175,070 
Six Months Ended June 30, 2021
(dollars in thousands)Commercial,
Financial and
Agricultural		Consumer
Installment		Indirect AutomobileMortgage WarehouseMunicipalPremium Finance
Balance, December 31, 2020$7,359 $4,076 $1,929 $3,666 $791 $3,879 
Provision for loan losses4,077 6,297 (951)(301)(14)(391)
Loans charged off(5,899)(3,117)(970)— — (2,537)
Recoveries of loans previously charged off1,352 568 1,072 — — 3,588 
Balance, June 30, 2021$6,889 $7,824 $1,080 $3,365 $777 $4,539 
Real Estate – Construction and DevelopmentReal Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Balance, December 31, 2020$45,304 $88,894 $43,524 $199,422 
Provision for loan losses(26,344)640 (491)(17,478)
Loans charged off(212)(1,422)(555)(14,712)
Recoveries of loans previously charged off251 226 781 7,838 
Balance, June 30, 2021$18,999 $88,338 $43,259 $175,070 
Three Months Ended June 30, 2020
(dollars in thousands)Commercial,
Financial and
Agricultural		Consumer
Installment		Indirect AutomobileMortgage WarehouseMunicipalPremium Finance
Balance, March 31, 2020$8,110 $15,446 $3,464 $1,102 $522 $11,508 
Provision for loan losses11 5,165 574 396 (15)(2,083)
Loans charged off(486)(962)(1,016)— — (1,903)
Recoveries of loans previously charged off303 436 359 — — 676 
Balance, June 30, 2020$7,938 $20,085 $3,381 $1,498 $507 $8,198 
Real Estate – Construction and DevelopmentReal Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Balance, March 31, 2020$25,319 $51,754 $32,299 $149,524 
Provision for loan losses28,853 38,133 (2,585)68,449 
Loans charged off(74)(6,315)(525)(11,281)
Recoveries of loans previously charged off168 21 138 2,101 
Balance, June 30, 2020$54,266 $83,593 $29,327 $208,793 
Six Months Ended June 30, 2020
(dollars in thousands)Commercial,
Financial and
Agricultural		Consumer
Installment		Indirect AutomobileMortgage WarehouseMunicipalPremium Finance
Balance, December 31, 2019$4,567 $3,784 $— $640 $484 $2,550 
Adjustment to allowance for adoption of ASC 3262,587 8,012 4,109 463 (92)4,471 
Provision for loan losses3,091 9,636 816 395 115 2,551 
Loans charged off(2,972)(2,104)(2,247)— — (2,734)
Recoveries of loans previously charged off665 757 703 — — 1,360 
Balance, June 30, 2020$7,938 $20,085 $3,381 $1,498 $507 $8,198 
Real Estate – Construction and DevelopmentReal Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Balance, December 31, 2019$5,995 $9,666 $10,503 $38,189 
Adjustment to allowance for adoption of ASC 32612,248 27,073 19,790 78,661 
Provision for loan losses35,587 53,991 (686)105,496 
Loans charged off(74)(7,243)(625)(17,999)
Recoveries of loans previously charged off510 106 345 4,446 
Balance, June 30, 2020$54,266 $83,593 $29,327 $208,793