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Loans (Tables)
 3 Months Ended
Mar. 31, 2019
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of related aging categories of loans by segment
The following table presents the related aging categories of loans, by segment, as of March 31, 2019 and December 31, 2018:
 
 
March 31, 2019
 
 
 
 
Past Due
 
Past Due 90
 
 
 
 
 
 
 
 
30 To 89
 
Days Or More
 
Non-
 
 
(In Thousands)
 
Current
 
Days
 
& Still Accruing
 
Accrual
 
Total
Commercial, financial, and agricultural
 
$
189,540

 
$
79

 
$
32

 
$
5,266

 
$
194,917

Real estate mortgage:
 
 

 
 

 
 

 
 

 
 

Residential
 
611,264

 
4,430

 
947

 
1,918

 
618,559

Commercial
 
357,600

 
2,057

 
267

 
7,165

 
367,089

Construction
 
38,922

 
287

 
—

 
72

 
39,281

Consumer automobile loans
 
139,462

 
301

 
—

 
74

 
139,837

Other consumer installment loans
 
23,243

 
545

 
22

 
31

 
23,841

 
 
1,360,031

 
$
7,699

 
$
1,268

 
$
14,526

 
1,383,524

Net deferred loan fees and discounts
 
946

 
 

 
 

 
 

 
946

Allowance for loan losses
 
(13,792
)
 
 

 
 

 
 

 
(13,792
)
Loans, net
 
$
1,347,185

 
 

 
 

 
 

 
$
1,370,678


 
 
December 31, 2018
 
 
 
 
Past Due
 
Past Due 90
 
 
 
 
 
 
 
 
30 To 89
 
Days Or More
 
Non-
 
 
(In Thousands)
 
Current
 
Days
 
& Still Accruing
 
Accrual
 
Total
Commercial, financial, and agricultural
 
$
182,651

 
$
616

 
$
—

 
$
5,294

 
$
188,561

Real estate mortgage:
 
 

 
 

 
 

 
 

 
 

Residential
 
611,281

 
7,688

 
1,238

 
2,172

 
622,379

Commercial
 
361,624

 
2,349

 
—

 
7,722

 
371,695

Construction
 
43,144

 
305

 
—

 
74

 
43,523

Consumer automobile loans
 
132,713

 
412

 
27

 
31

 
133,183

Other consumer installment loans
 
23,902

 
636

 
9

 
5

 
24,552

 
 
1,355,315

 
$
12,006

 
$
1,274

 
$
15,298

 
1,383,893

Net deferred loan fees and discounts
 
864

 
 

 
 

 
 

 
864

Allowance for loan losses
 
(13,837
)
 
 

 
 

 
 

 
(13,837
)
Loans, net
 
$
1,342,342

 
 

 
 

 
 

 
$
1,370,920
Schedule of interest income if interest had been recorded based on the original loan agreement terms and rate of interest for non-accrual loans and interest income recognized on a cash basis for non-accrual loans
The following table presents interest income the Banks would have recorded if interest had been recorded based on the original loan agreement terms and rate of interest for non-accrual loans and interest income recognized on a cash basis for non-accrual loans for the three months ended March 31, 2019 and 2018:
 
 
Three Months Ended March 31,
 
 
2019
 
2018
(In Thousands)
 
Interest Income That
Would Have Been
Recorded Based on
Original Term and Rate
 
Interest
Income
Recorded on
a Cash Basis
 
Interest Income That
Would Have Been
Recorded Based on
Original Term and Rate
 
Interest
Income
Recorded on
a Cash Basis
Commercial, financial, and agricultural
 
$
24

 
$
39

 
$
1

 
$
—

Real estate mortgage:
 
 

 
 

 
 

 
 

Residential
 
33

 
23

 
31

 
11

Commercial
 
89

 
40

 
61

 
17

Construction
 
1

 
1

 
—

 
—

Consumer automobile loans
 
2

 
1

 
—

 
—

Other consumer installment loans
 
1

 
—

 
—

 
—

 
 
$
150

 
$
104

 
$
93

 
$
28

 
Schedule of recorded investment, unpaid principal balance, and related allowance of impaired loans by segment
The following table presents the recorded investment, unpaid principal balance, and related allowance of impaired loans by segment as of March 31, 2019 and December 31, 2018:
 
 
March 31, 2019
 
 
Recorded
 
Unpaid Principal
 
Related
(In Thousands)
 
Investment
 
Balance
 
Allowance
With no related allowance recorded:
 
 

 
 

 
 

Commercial, financial, and agricultural
 
$
1,242

 
$
1,242

 
$
—

Real estate mortgage:
 
 

 
 

 
 

Residential
 
2,372

 
2,372

 
—

Commercial
 
3,238

 
3,238

 
—

Construction
 
72

 
72

 
—

Consumer automobile loans
 
5

 
5

 
—

Installment loans to individuals
 
5

 
5

 
—

 
 
6,934

 
6,934

 
—

With an allowance recorded:
 
 

 
 

 
 

Commercial, financial, and agricultural
 
4,100

 
4,100

 
644

Real estate mortgage:
 
 

 
 

 
 

Residential
 
1,743

 
1,742

 
286

Commercial
 
7,236

 
7,236

 
1,253

Construction
 
—

 
—

 
—

Consumer automobile loans
 
68

 
68

 
32

Installment loans to individuals
 
26

 
26

 
13

 
 
13,173

 
13,172

 
2,228

Total:
 
 

 
 

 
 

Commercial, financial, and agricultural
 
5,342

 
5,342

 
644

Real estate mortgage:
 
 

 
 

 
 

Residential
 
4,115

 
4,114

 
286

Commercial
 
10,474

 
10,474

 
1,253

Construction
 
72

 
72

 
—

Consumer automobile loans
 
73

 
73

 
32

Installment loans to individuals
 
31

 
31

 
13

 
 
$
20,107

 
$
20,106

 
$
2,228


 
 
December 31, 2018
 
 
Recorded
 
Unpaid Principal
 
Related
(In Thousands)
 
Investment
 
Balance
 
Allowance
With no related allowance recorded:
 
 

 
 

 
 

Commercial, financial, and agricultural
 
$
1,152

 
$
1,152

 
$
—

Real estate mortgage:
 
 

 
 

 
 

Residential
 
2,619

 
2,619

 
—

Commercial
 
2,457

 
2,457

 
—

Construction
 
74

 
74

 
—

Consumer automobile loans
 
31

 
31

 
—

Installment loans to individuals
 
—

 
—

 
—

 
 
6,333

 
6,333

 
—

With an allowance recorded:
 
 

 
 

 
 

Commercial, financial, and agricultural
 
4,111

 
4,111

 
650

Real estate mortgage:
 
 

 
 

 
 

Residential
 
1,591

 
1,591

 
168

Commercial
 
9,207

 
9,207

 
1,720

Construction
 
—

 
—

 
—

Consumer automobile loans
 
—

 
—

 
—

Installment loans to individuals
 
5

 
5

 
5

 
 
14,914

 
14,914

 
2,543

Total:
 
 

 
 

 
 

Commercial, financial, and agricultural
 
5,263

 
5,263

 
650

Real estate mortgage:
 
 

 
 

 
 

Residential
 
4,210

 
4,210

 
168

Commercial
 
11,664

 
11,664

 
1,720

Construction
 
74

 
74

 
—

Consumer automobile loans
 
31

 
31

 
—

Installment loans to individuals
 
5

 
5

 
5

 
 
$
21,247

 
$
21,247

 
$
2,543
Schedule of average recorded investment in impaired loans and related interest income recognized
The following table presents the average recorded investment in impaired loans and related interest income recognized for the three months ended for March 31, 2019 and 2018:
 
 
Three Months Ended March 31,
 
 
2019
 
2018
(In Thousands)
 
Average
Investment in
Impaired Loans
 
Interest Income
Recognized on an
Accrual Basis on
Impaired Loans
 
Interest Income
Recognized on a
Cash Basis on
Impaired Loans
 
Average
Investment in
Impaired Loans
 
Interest Income
Recognized on an
Accrual Basis on
Impaired Loans
 
Interest Income
Recognized on a
Cash Basis on
Impaired Loans
Commercial, financial, and agricultural
 
$
5,302

 
$
1

 
$
38

 
$
1,259

 
$
17

 
$
—

Real estate mortgage:
 
 

 
 

 
 

 
 

 
 

 
 

Residential
 
4,163

 
28

 
17

 
4,098

 
38

 
11

Commercial
 
11,069

 
31

 
36

 
9,430

 
58

 
17

Construction
 
73

 
—

 
1

 
—

 
—

 
—

Consumer automobile
 
52

 
—

 
1

 
—

 
—

 
—

Other consumer installment loans
 
18

 
—

 
—

 
—

 
—

 


 
 
$
20,677

 
$
60

 
$
93

 
$
14,787

 
$
113

 
$
28

 
Schedule of loan modifications that are considered TDRs
Loan modifications that are considered TDRs completed during the three months ended March 31, 2018 were as follows:
 
 
Three Months Ended March 31,
 
 
2018
(In Thousands, Except Number of Contracts)
 
Number
of
Contracts
 
Pre-Modification Outstanding Recorded Investment
 
Post-Modification Outstanding Recorded Investment
Commercial, financial, and agricultural
 
—

 
$
—

 
$
—

Real estate mortgage:
 
 
 
 
 
 
Residential
 
2

 
102

 
120

Commercial
 
1

 
106

 
106

 
 
3

 
$
208

 
$
226

 
 
 
 
 
 
 
 
Schedule of credit quality categories
The following table presents the credit quality categories identified above as of March 31, 2019 and December 31, 2018:
 
 
March 31, 2019
 
 
Commercial, Financial, and Agricultural
 
Real Estate Mortgages
 
Consumer automobile
 
Other consumer installment loans
 
 
(In Thousands)
 
 
Residential
 
Commercial
 
Construction
 
 
 
Totals
Pass
 
$
186,169

 
$
616,004

 
$
348,504

 
$
39,268

 
$
139,837

 
$
23,841

 
$
1,353,623

Special Mention
 
3,430

 
691

 
6,449

 
—

 
—

 
—

 
10,570

Substandard
 
5,318

 
1,864

 
12,136

 
13

 
—

 
—

 
19,331

 
 
$
194,917

 
$
618,559

 
$
367,089

 
$
39,281

 
$
139,837

 
$
23,841

 
$
1,383,524


 
 
December 31, 2018
 
 
Commercial, Financial, and Agricultural
 
Real Estate Mortgages
 
Consumer automobile
 
Other consumer installment loans
 
 
(In Thousands)
 
 
Residential
 
Commercial
 
Construction
 
 
 
Totals
Pass
 
$
179,840

 
$
619,800

 
$
351,703

 
$
43,523

 
$
133,183

 
$
24,552

 
$
1,352,601

Special Mention
 
3,426

 
694

 
6,587

 
—

 
—

 
—

 
10,707

Substandard
 
5,295

 
1,885

 
13,405

 


 
—

 
—

 
20,585

 
 
$
188,561

 
$
622,379

 
$
371,695

 
$
43,523

 
$
133,183

 
$
24,552

 
$
1,383,893
Schedule of activity in the allowance
Activity in the allowance is presented for the three months ended March 31, 2019 and 2018:
 
 
Three Months Ended March 31, 2019
 
 
Commercial, Financial, and Agricultural
 
Real Estate Mortgages
 
Consumer automobile
 
Other consumer installment
 
 
 
 
(In Thousands)
 
 
Residential
 
Commercial
 
Construction
 
 
 
Unallocated
 
Totals
Beginning Balance
 
$
1,680

 
$
5,616

 
$
4,047

 
$
143

 
$
1,328

 
$
259

 
$
764

 
$
13,837

Charge-offs
 
(50
)
 
(73
)
 
(139
)
 
—

 
(100
)
 
(96
)
 
—

 
(458
)
Recoveries
 
6

 
1

 
—

 
5

 
26

 
15

 
—

 
53

Provision
 
96

 
186

 
(106
)
 
(18
)
 
148

 
100

 
(46
)
 
360

Ending Balance
 
$
1,732

 
$
5,730

 
$
3,802

 
$
130

 
$
1,402

 
$
278

 
$
718

 
$
13,792

 
 
 
Three Months Ended March 31, 2018
 
 
Commercial, Financial, and Agricultural
 
Real Estate Mortgages
 
Consumer automobile
 
Other consumer installment
 
 
 
 
(In Thousands)
 
 
Residential
 
Commercial
 
Construction
 
 
 
Unallocated
 
Totals
Beginning Balance
 
$
1,177

 
$
5,679

 
$
4,277

 
$
155

 
$
804

 
$
271

 
$
495

 
$
12,858

Charge-offs
 
(33
)
 
(51
)
 
(55
)
 
—

 
(30
)
 
(71
)
 
—

 
(240
)
Recoveries
 
7

 
24

 
—

 
2

 
1

 
24

 
—

 
58

Provision
 
221

 
4

 
(219
)
 
(1
)
 
241

 
81

 
(167
)
 
160

Ending Balance
 
$
1,372

 
$
5,656

 
$
4,003

 
$
156

 
$
1,016

 
$
305

 
$
328

 
$
12,836

 
 
 
Schedule of concentration of loan
The Company has a concentration of the following to gross loans at March 31, 2019 and 2018: 
 
 
March 31,
 
 
2019
 
2018
Owners of residential rental properties
 
14.82
%
 
15.00
%
Owners of commercial rental properties
 
12.07
%
 
13.16
%
Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of March 31, 2019 and December 31, 2018:
 
 
March 31, 2019
 
 
Commercial, Financial, and Agricultural
 
Real Estate Mortgages
 
Consumer Automobile
 
Other consumer installment
 
Unallocated
 
 
(In Thousands)
 
 
Residential
 
Commercial
 
Construction
 
 
 
 
Totals
Allowance for Loan Losses:
 
 

 
 

 
 

 
 

 
 
 
 

 
 

 
 

Ending allowance balance attributable to loans:
 
 

 
 

 
 

 
 

 
 
 
 

 
 

 
 

Individually evaluated for impairment
 
$
644

 
$
286

 
$
1,253

 
$
—

 
$
32

 
$
13

 
$
—

 
$
2,228

Collectively evaluated for impairment
 
1,088

 
5,444

 
2,549

 
130

 
1,370

 
265

 
718

 
11,564

Total ending allowance balance
 
$
1,732

 
$
5,730

 
$
3,802

 
$
130

 
$
1,402

 
$
278

 
$
718

 
$
13,792

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 

 
 

 
 

 
 

 
 
 
 

 
 

 
 

Individually evaluated for impairment
 
$
5,342

 
$
4,115

 
$
10,474

 
$
72

 
$
73

 
$
31

 


 
$
20,107

Collectively evaluated for impairment
 
189,575

 
614,444

 
356,615

 
39,209

 
139,764

 
23,810

 


 
1,363,417

Total ending loans balance
 
$
194,917

 
$
618,559

 
$
367,089

 
$
39,281

 
$
139,837

 
$
23,841

 


 
$
1,383,524


 
 
December 31, 2018
 
 
Commercial, Financial, and Agricultural
 
Real Estate Mortgages
 
Consumer Automobile
 
Other consumer installment
 
Unallocated
 
 
(In Thousands)
 
 
Residential
 
Commercial
 
Construction
 
 
 
 
Totals
Allowance for Loan Losses:
 
 

 
 

 
 

 
 

 
 
 
 

 
 

 
 

Ending allowance balance attributable to loans:
 
 

 
 

 
 

 
 

 
 
 
 

 
 

 
 

Individually evaluated for impairment
 
$
650

 
$
168

 
$
1,720

 
$
—

 
$
—

 
$
5

 
$
—

 
$
2,543

Collectively evaluated for impairment
 
1,030

 
5,448

 
2,327

 
143

 
1,328

 
254

 
764

 
11,294

Total ending allowance balance
 
$
1,680

 
$
5,616

 
$
4,047

 
$
143

 
$
1,328

 
$
259

 
$
764

 
$
13,837

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 

 
 

 
 

 
 

 
 
 
 

 
 

 
 

Individually evaluated for impairment
 
$
5,263

 
$
4,210

 
$
11,664

 
$
74

 
$
31

 
$
5

 
 

 
$
21,247

Collectively evaluated for impairment
 
183,298

 
618,169

 
360,031

 
43,449

 
133,152

 
24,547

 
 

 
1,362,646

Total ending loans balance
 
$
188,561

 
$
622,379

 
$
371,695

 
$
43,523

 
$
133,183

 
$
24,552

 
 

 
$
1,383,893