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LOANS AND ALLOWANCE FOR CREDIT LOSSES
 6 Months Ended
Jun. 30, 2022
Receivables [Abstract]  
LOANS AND ALLOWANCE FOR CREDIT LOSSES
NOTE 3 – LOANS AND ALLOWANCE FOR CREDIT LOSSES

Loans are stated at amortized cost. Balances within the major loans receivable categories are presented in the following table:

(dollars in thousands)June 30, 2022December 31, 2021
Commercial, financial and agricultural$2,022,845 $1,875,993 
Consumer installment167,237 191,298 
Indirect automobile172,245 265,779 
Mortgage warehouse949,191 787,837 
Municipal529,268 572,701 
Premium finance942,357 798,409 
Real estate – construction and development1,747,284 1,452,339 
Real estate – commercial and farmland7,156,017 6,834,917 
Real estate – residential3,874,578 3,094,985 
 $17,561,022 $15,874,258 

Accrued interest receivable on loans is reported in other assets on the consolidated balance sheets totaling $53.1 million and $54.8 million at June 30, 2022 and December 31, 2021, respectively. The Company recorded an allowance for credit losses of $0 and $214,000 related to deferred interest on loans modified under its Disaster Relief Program at June 30, 2022 and December 31, 2021, respectively.

Nonaccrual and Past-Due Loans

A loan is placed on nonaccrual status when, in management’s judgment, the collection of the interest income appears doubtful. Interest receivable that has been accrued and is subsequently determined to have doubtful collectability is charged to interest income. Interest on loans that are classified as nonaccrual is subsequently applied to principal until the loans are returned to accrual status. The Company’s loan policy states that a nonaccrual loan may be returned to accrual status when (i) none of its principal and interest is due and unpaid, and the Company expects repayment of the remaining contractual principal and interest, or (ii) it otherwise becomes well secured and in the process of collection. Restoration to accrual status on any given loan must be supported by a well-documented credit evaluation of the borrower’s financial condition and the prospects for full repayment, approved by the Company’s Chief Credit Officer. Past-due loans are loans whose principal or interest is past due 30 days or more. In some cases, where borrowers are experiencing financial difficulties, loans may be restructured to provide terms significantly different from the original contractual terms.
The following table presents an analysis of loans accounted for on a nonaccrual basis:

(dollars in thousands)June 30, 2022December 31, 2021
Commercial, financial and agricultural$11,742 $14,214 
Consumer installment473 476 
Indirect automobile465 947 
Real estate – construction and development178 492 
Real estate – commercial and farmland21,158 15,365 
Real estate – residential88,896 53,772 
$122,912 $85,266 

There was no interest income recognized on nonaccrual loans during the six months ended June 30, 2022 and 2021.

The following table presents an analysis of nonaccrual loans with no related allowance for credit losses:

(dollars in thousands)June 30, 2022December 31, 2021
Commercial, financial and agricultural$— $164 
Real estate – construction and development— 209 
Real estate – commercial and farmland2,448 2,061 
Real estate – residential5,071 7,942 
$7,519 $10,376 
The following table presents an analysis of past-due loans as of June 30, 2022 and December 31, 2021:

(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, 2022       
Commercial, financial and agricultural$3,822 $3,725 $11,063 $18,610 $2,004,235 $2,022,845 $1,697 
Consumer installment1,132 739 699 2,570 164,667 167,237 466 
Indirect automobile394 137 296 827 171,418 172,245 — 
Mortgage warehouse— — — — 949,191 949,191 — 
Municipal— — — — 529,268 529,268 — 
Premium finance7,462 6,398 5,795 19,655 922,702 942,357 5,795 
Real estate – construction and development18,050 5,677 633 24,360 1,722,924 1,747,284 584 
Real estate – commercial and farmland2,706 11,334 3,666 17,705 7,138,312 7,156,017 — 
Real estate – residential27,385 8,877 86,400 122,662 3,751,916 3,874,578 — 
Total$60,951 $36,887 $108,552 $206,389 $17,354,633 $17,561,022 $8,542 
December 31, 2021       
Commercial, financial and agricultural$3,431 $2,005 $12,017 $17,453 $1,858,540 $1,875,993 $1,165 
Consumer installment1,786 871 891 3,548 187,750 191,298 584 
Indirect automobile772 185 473 1,430 264,349 265,779 — 
Mortgage warehouse— — — — 787,837 787,837 — 
Municipal— — — — 572,701 572,701 — 
Premium finance6,992 4,340 9,134 20,466 777,943 798,409 9,134 
Real estate – construction and development16,601 1,398 2,190 20,189 1,432,150 1,452,339 1,758 
Real estate – commercial and farmland6,713 1,150 5,924 13,787 6,821,130 6,834,917 7 
Real estate – residential17,729 4,266 49,839 71,834 3,023,151 3,094,985 — 
Total$54,024 $14,215 $80,468 $148,707 $15,725,551 $15,874,258 $12,648 

Collateral-Dependent Loans

Collateral-dependent loans are loans where repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty. If the Company determines that foreclosure is probable, these loans are written down to the lower of cost or fair value of the collateral less estimated costs to sell. When repayment is expected to be from the operation of the collateral, the allowance for credit losses is calculated as the amount by which the amortized cost basis of the financial asset exceeds the present value of expected cash flows from the operation of the collateral. The Company may, in the alternative, measure the allowance for credit loss as the amount by which the amortized cost basis of the financial asset exceeds the estimated fair value of the collateral.
The following table presents an analysis of individually evaluated collateral-dependent financial assets and related allowance for credit losses:

June 30, 2022December 31, 2021
(dollars in thousands)BalanceAllowance for Credit LossesBalanceAllowance for Credit Losses
Commercial, financial and agricultural$1,695 $168 $2,613 $723 
Premium finance1,136 91 2,989 30 
Real estate – construction and development— — 1,432 45 
Real estate – commercial and farmland22,820 2,096 33,332 6,646 
Real estate – residential14,317 1,580 11,712 453 
$39,968 $3,935 $52,078 $7,897 

Credit Quality Indicators

The Company uses a nine category risk grading system to assign a risk grade to each loan in the portfolio. The following is a description of the general characteristics of the grades:

Pass (Grades 1 - 5) – These grades represent acceptable credit risk to the Company based on factors including creditworthiness of the borrower, current performance and nature of the collateral.

Other Assets Especially Mentioned (Grade 6) – This grade includes loans that exhibit potential weaknesses that deserve management’s close attention. If left uncorrected, these weaknesses may result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date.

Substandard (Grade 7) – This grade represents loans which are inadequately protected by the current credit worthiness and paying capacity of the borrower or of the collateral pledged, if any. These assets exhibit a well-defined weakness or are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. These weaknesses may be characterized by past due performance, operating losses or questionable collateral values.

Doubtful (Grade 8) – This grade includes loans which exhibit all of the characteristics of a substandard loan with the added provision that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable or improbable.

Loss (Grade 9) – This grade is assigned to loans which are considered uncollectible and of such little value that their continuance as active assets of the Bank is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing it off.

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, 2022 and December 31, 2021. 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 June 30, 2022 or December 31, 2021.
As of June 30, 2022
Term Loans by Origination YearRevolving Loans Amortized Cost Basis
20222021202020192018PriorTotal
Commercial, Financial and Agricultural
Risk Grade:
Pass$527,870 $637,107 $214,934 $143,779 $85,058 $59,648 $331,032 $1,999,428 
6— 151 92 274 160 2,881 794 4,352 
76,618 1,160 445 3,122 1,400 4,151 2,169 19,065 
Total commercial, financial and agricultural$534,488 $638,418 $215,471 $147,175 $86,618 $66,680 $333,995 $2,022,845 
Consumer Installment
Risk Grade:
Pass$25,920 $18,153 $46,134 $28,754 $21,530 $16,607 $8,804 $165,902 
6— — — — — 130 5 135 
724 81 321 169 89 430 86 1,200 
Total consumer installment$25,944 $18,234 $46,455 $28,923 $21,619 $17,167 $8,895 $167,237 
Indirect Automobile
Risk Grade:
Pass$— $— $— $15,350 $72,999 $82,645 $— $170,994 
6— — — — — 20 — 20 
7— — — 50 224 957 — 1,231 
Total indirect automobile$— $— $— $15,400 $73,223 $83,622 $— $172,245 
Mortgage Warehouse
Risk Grade:
Pass$— $— $— $— $— $— $949,191 $949,191 
Total mortgage warehouse$— $— $— $— $— $— $949,191 $949,191 
Municipal
Risk Grade:
Pass$10,775 $43,922 $194,357 $13,779 $4,853 $261,582 $— $529,268 
Total municipal$10,775 $43,922 $194,357 $13,779 $4,853 $261,582 $— $529,268 
Premium Finance
Risk Grade:
Pass$790,855 $146,821 $110 $— $— $75 $— $937,861 
71,766 2,729 1 — — — — 4,496 
Total premium finance$792,621 $149,550 $111 $— $— $75 $— $942,357 
Real Estate – Construction and Development
Risk Grade:
Pass$380,485 $844,549 $299,850 $128,437 $12,891 $30,227 $26,205 $1,722,644 
64,330 5,241 432 — 48 580 — 10,631 
7216 218 211 26 13,079 259 — 14,009 
Total real estate – construction and development$385,031 $850,008 $300,493 $128,463 $26,018 $31,066 $26,205 $1,747,284 
As of June 30, 2022
Term Loans by Origination YearRevolving Loans Amortized Cost Basis
20222021202020192018PriorTotal
Real Estate – Commercial and Farmland
Risk Grade:
Pass$993,793 $2,069,024 $1,150,513 $891,580 $496,721 $1,373,284 $72,965 $7,047,880 
6607 — — 29,343 1,163 18,007 — 49,120 
7— 3,259 2,588 13,777 6,967 32,408 18 59,017 
Total real estate – commercial and farmland$994,400 $2,072,283 $1,153,101 $934,700 $504,851 $1,423,699 $72,983 $7,156,017 
Real Estate - Residential
Risk Grade:
Pass$880,233 $1,243,230 $582,823 $290,790 $123,347 $438,034 $214,894 $3,773,351 
664 218 47 608 508 2,680 61 4,186 
7268 9,398 18,956 29,041 14,331 23,395 1,652 97,041 
Total real estate - residential$880,565 $1,252,846 $601,826 $320,439 $138,186 $464,109 $216,607 $3,874,578 
Total Loans
Risk Grade:
Pass$3,609,931 $5,002,806 $2,488,721 $1,512,469 $817,399 $2,262,102 $1,603,091 $17,296,519 
65,001 5,610 571 30,225 1,879 24,298 860 68,444 
78,892 16,845 22,522 46,185 36,090 61,600 3,925 196,059 
Total loans$3,623,824 $5,025,261 $2,511,814 $1,588,879 $855,368 $2,348,000 $1,607,876 $17,561,022 

As of December 31, 2021
Term Loans by Origination YearRevolving Loans Amortized Cost Basis
20212020201920182017PriorTotal
Commercial, Financial and Agricultural
Risk Grade:
Pass$903,630 $279,037 $188,810 $118,613 $50,737 $40,376 $262,951 $1,844,154 
6190 — 393 427 368 1,832 1,961 5,171 
79,216 1,268 4,098 1,472 2,566 6,019 2,029 26,668 
Total commercial, financial and agricultural$913,036 $280,305 $193,301 $120,512 $53,671 $48,227 $266,941 $1,875,993 
Consumer Installment
Risk Grade:
Pass$35,781 $59,221 $37,195 $27,266 $9,787 $11,021 $9,437 $189,708 
6— — — — — 135 5 140 
759 283 290 216 103 405 94 1,450 
Total consumer installment$35,840 $59,504 $37,485 $27,482 $9,890 $11,561 $9,536 $191,298 
Indirect Automobile
Risk Grade:
Pass$— $— $20,276 $101,969 $90,294 $51,468 $— $264,007 
6— — — 24 10 19 — 53 
7— — 55 234 384 1,046 — 1,719 
Total indirect automobile$— $— $20,331 $102,227 $90,688 $52,533 $— $265,779 
As of December 31, 2021
Term Loans by Origination YearRevolving Loans Amortized Cost Basis
20212020201920182017PriorTotal
Mortgage Warehouse
Risk Grade:
Pass$— $— $— $— $— $— $787,837 $787,837 
Total mortgage warehouse$— $— $— $— $— $— $787,837 $787,837 
Municipal
Risk Grade:
Pass$44,727 $219,385 $14,831 $5,494 $109,040 $179,224 $— $572,701 
Total municipal$44,727 $219,385 $14,831 $5,494 $109,040 $179,224 $— $572,701 
Premium Finance
Risk Grade:
Pass$787,884 $1,059 $26 $— $302 $4 $— $789,275 
79,039 95 — — — — — 9,134 
Total premium finance$796,923 $1,154 $26 $— $302 $4 $— $798,409 
Real Estate – Construction and Development
Risk Grade:
Pass$826,094 $290,814 $176,476 $35,773 $24,533 $44,514 $21,267 $1,419,471 
66,527 549 — 15,260 — 2,101 — 24,437 
71,143 678 7 2,476 57 1,011 3,059 8,431 
Total real estate – construction and development$833,764 $292,041 $176,483 $53,509 $24,590 $47,626 $24,326 $1,452,339 
Real Estate – Commercial and Farmland
Risk Grade:
Pass$2,186,291 $1,205,578 $1,119,239 $542,295 $486,477 $1,103,675 $80,379 $6,723,934 
6416 — 1,036 14,760 5,334 21,665 — 43,211 
74,709 2,682 11,109 9,076 4,861 35,315 20 67,772 
Total real estate – commercial and farmland$2,191,416 $1,208,260 $1,131,384 $566,131 $496,672 $1,160,655 $80,399 $6,834,917 
Real Estate - Residential
Risk Grade:
Pass$1,171,008 $638,232 $329,247 $149,990 $108,538 $408,240 $217,982 $3,023,237 
6145 66 1,106 505 356 3,717 49 5,944 
72,405 10,167 21,239 11,376 4,597 13,970 2,050 65,804 
Total real estate - residential$1,173,558 $648,465 $351,592 $161,871 $113,491 $425,927 $220,081 $3,094,985 
Total Loans
Risk Grade:
Pass$5,955,415 $2,693,326 $1,886,100 $981,400 $879,708 $1,838,522 $1,379,853 $15,614,324 
67,278 615 2,535 30,976 6,068 29,469 2,015 78,956 
726,571 15,173 36,798 24,850 12,568 57,766 7,252 180,978 
Total loans$5,989,264 $2,709,114 $1,925,433 $1,037,226 $898,344 $1,925,757 $1,389,120 $15,874,258 

Troubled Debt Restructurings

The restructuring of a loan is considered a “troubled debt restructuring” if both (i) the borrower is experiencing financial difficulties and (ii) the Company has granted a concession. Concessions may include interest rate reductions to below market
interest rates, principal forgiveness, restructuring amortization schedules and other actions intended to minimize potential losses.

The Company’s policy requires a restructure request to be supported by a current, well-documented credit evaluation of the borrower’s financial condition and a collateral evaluation that is no older than six months from the date of the restructure. Key factors of that evaluation include the documentation of current, recurring cash flows, support provided by the guarantor(s) and the current valuation of the collateral. If the appraisal in the file is older than six months, an evaluation must be made as to the continued reasonableness of the valuation. For certain income-producing properties, current rent rolls and/or other income information can be utilized to support the appraisal valuation, when coupled with documented cap rates within our markets and a physical inspection of the collateral to validate the current condition.

The Company’s policy states that in the event a loan has been identified as a troubled debt restructuring, it should be assigned a grade of substandard until such time the borrower has demonstrated the ability to service the loan payments based on the restructured terms – generally defined as six months of satisfactory payment history. Missed payments under the original loan terms are not considered under the new structure; however, subsequent missed payments are considered non-performance and are not considered toward the six month required term of satisfactory payment history.

In the normal course of business, the Company modifies loans with a modification of the interest rate or terms that are not deemed to be troubled debt restructurings because the borrower is not experiencing financial difficulty. The Company modified loans in the first six months of 2022 and 2021 totaling $214.8 million and $220.8 million, respectively, under such parameters.

As of June 30, 2022 and December 31, 2021, the Company had a balance of $41.8 million and $76.6 million, respectively, in troubled debt restructurings. The Company has recorded $698,000 and $654,000 in previous charge-offs on such loans at June 30, 2022 and December 31, 2021, respectively. The Company’s balance in the allowance for credit losses allocated to such troubled debt restructurings was $2.5 million and $10.5 million at June 30, 2022 and December 31, 2021, respectively. At June 30, 2022, the Company did not have any commitments to lend additional funds to debtors whose terms have been modified in troubled restructurings.

The following table presents the loans by class modified as troubled debt restructurings which occurred during the three and six months ended June 30, 2022 and 2021. 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,
 2022202120222021
Loan Class#
Balance
(in thousands)
#
Balance
(in thousands)
#
Balance
(in thousands)
#
Balance
(in thousands)
Commercial, financial and agricultural2$502 2$165 2$502 6$591 
Consumer installment—— 28 —— 28 
Premium finance2756 —— 6993 —— 
Real estate – commercial and farmland2578 38,653 2578 516,312 
Real estate – residential2462 2472 51,437 121,457 
Total8$2,298 9$9,298 15$3,510 25$18,368 

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, 2022 and 2021. 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,
 2022202120222021
Loan Class#
Balance
(in thousands)
#
Balance
(in thousands)
#
Balance
(in thousands)
#
Balance
(in thousands)
Commercial, financial and agricultural—$— —$— 1$357 3$49 
Consumer installment—— —— 23 45 
Indirect automobile32 727 1222 22112 
Real estate – construction and development—— —— —— 11 
Real estate – commercial and farmland—— 1202 18 35,382 
Real estate – residential111,071 17940 212,791 271,646 
Total14$1,073 25$1,169 37$3,181 60$7,195 

The following table presents the amount of troubled debt restructurings by loan class classified separately as accrual and nonaccrual at June 30, 2022 and December 31, 2021:

June 30, 2022Accruing LoansNon-Accruing Loans
Loan Class#
Balance
(in thousands)
#
Balance
(in thousands)
Commercial, financial and agricultural9$964 3$364 
Consumer installment49 1014 
Indirect automobile196759 30122 
Premium finance6993 —— 
Real estate – construction and development2706 —— 
Real estate – commercial and farmland188,213 4788 
Real estate – residential21024,456 314,369 
Total445$36,100 78$5,657 


December 31, 2021Accruing LoansNon-Accruing Loans
Loan Class#
Balance
(in thousands)
#
Balance
(in thousands)
Commercial, financial and agricultural12$1,286 6$83 
Consumer installment716 1735 
Indirect automobile2331,037 52273 
Real estate – construction and development4789 113 
Real estate – commercial and farmland2535,575 55,924 
Real estate – residential21326,879 394,678 
Total494$65,582 120$11,006 

Allowance for Credit Losses on Loans

The allowance for credit losses represents an allowance for expected losses over the remaining contractual life of the assets. The contractual term does not consider extensions, renewals or modifications unless the Company reasonably expects to execute a troubled debt restructuring with a borrower. The Company segregates the loan portfolio by type of loan and utilizes this segregation in evaluating exposure to risks within the portfolio.

Loan losses are charged against the allowance when management believes the collection of a loan’s principal is unlikely. Subsequent recoveries are credited to the allowance. Consumer loans are charged off in accordance with the Federal Financial Institutions Examination Council’s (the “FFIEC”) Uniform Retail Credit Classification and Account Management Policy. Commercial loans are charged off when they are deemed uncollectible, which usually involves a triggering event within the collection effort. If the loan is collateral dependent, the loss is more easily identified and is charged off when it is identified, usually based upon receipt of an appraisal. However, when a loan has guarantor support, the Company may carry the estimated loss as a reserve against the loan while collection efforts with the guarantor are pursued. If, after collection efforts with the guarantor are complete, the deficiency is still considered uncollectible, the loss is charged off and any further collections are
treated as recoveries. In all situations, when a loan is downgraded to an Asset Quality Rating of 9 (Loss per the regulatory guidance), the uncollectible portion is charged off.

The Company’s methodologies for estimating the allowance for credit losses consider available relevant information about the collectability of cash flows, including information about past events, current conditions, and reasonable and supportable forecasts. The methodologies apply historical loss information, adjusted for asset-specific characteristics, economic conditions at the measurement date, and forecasts about future economic conditions expected to exist through the contractual lives of the financial assets that are reasonable and supportable, to the identified pools of loans with similar risk characteristics for which the historical loss experience was observed. The Company utilizes a one year reasonable and supportable forecast period. The Company’s methodologies revert back to historical loss information on a straight-line basis over four quarters after the reasonable and supportable forecast period.

During the six months ended June 30, 2022, the allowance for credit losses increased due to organic loan growth, partially offset by improvement in forecasted macroeconomic factors. The allowance for credit losses was determined at June 30, 2022 using a weighting of four economic forecasts from Moody's. The Moody's Consensus scenario was weighted at 20%, the downside 75th percentile S-2 scenario was weighted at 30%, the downside 90th percentile S-3 scenario was weighted at 20%, and the stagflation scenario was weighted at 30%. The allowance for credit losses was determined at December 31, 2021 using a weighting of five economic forecasts from Moody's. The Moody's baseline scenario was weighted at 10%, the downside 75th percentile S-2 scenario was weighted at 10%, the downside 90th percentile S-3 scenario was weighted at 50%, the slower trend growth scenario was weighted at 20% and the stagflation scenario was weighted at 10%. The current forecast reflects, among other things, improvements in forecast levels of home prices, commercial real estate prices and unemployment compared with the forecast at December 31, 2021.
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, 2022
(dollars in thousands)Commercial,
Financial and
Agricultural		Consumer
Installment		Indirect AutomobileMortgage WarehouseMunicipalPremium Finance
Balance, March 31, 2022$25,526 $5,619 $373 $3,010 $384 $2,515 
Provision for loan losses1,738 557 (306)875 (13)200 
Loans charged off(4,391)(1,137)(41)— — (1,066)
Recoveries of loans previously charged off2,785 230 265 — — 1,113 
Balance, June 30, 2022$25,658 $5,269 $291 $3,885 $371 $2,762 
Real Estate – Construction and DevelopmentReal Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Balance, March 31, 2022$26,831 $67,033 $29,960 $161,251 
Provision for loan losses(3,954)(7,647)21,777 13,227 
Loans charged off— (81)(137)(6,853)
Recoveries of loans previously charged off355 44 225 5,017 
Balance, June 30, 2022$23,232 $59,349 $51,825 $172,642 
Six Months Ended June 30, 2022
(dollars in thousands)Commercial,
Financial and
Agricultural		Consumer
Installment		Indirect AutomobileMortgage WarehouseMunicipalPremium Finance
Balance, December 31, 2021$26,829 $6,097 $476 $3,231 $401 $2,729 
Provision for loan losses1,953 1,346 (596)654 (30)108 
Loans charged off(8,805)(2,562)(129)— — (2,435)
Recoveries of loans previously charged off5,681 388 540 — — 2,360 
Balance, June 30, 2022$25,658 $5,269 $291 $3,885 $371 $2,762 
Real Estate – Construction and DevelopmentReal Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Balance, December 31, 2021$22,045 $77,831 $27,943 $167,582 
Provision for loan losses614 (17,199)23,643 10,493 
Loans charged off— (1,364)(137)(15,432)
Recoveries of loans previously charged off573 81 376 9,999 
Balance, June 30, 2022$23,232 $59,349 $51,825 $172,642 
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