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Loans (Tables)
 3 Months Ended
Mar. 31, 2020
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, 2020 and December 31, 2019:
 
 
March 31, 2020
 
 
 
 
Past Due
 
Past Due 90
 
 
 
 
 
 
 
 
30 To 89
 
Days Or More
 
Non-
 
 
(In Thousands)
 
Current
 
Days
 
& Still Accruing
 
Accrual
 
Total
Commercial, financial, and agricultural
 
$
155,692

 
$
489

 
$
31

 
$
1,938

 
$
158,150

Real estate mortgage:
 
 

 
 

 
 

 
 

 
 

Residential
 
607,445

 
6,321

 
1,383

 
1,005

 
616,154

Commercial
 
351,202

 
2,795

 
—

 
6,740

 
360,737

Construction
 
39,003

 
230

 
—

 
64

 
39,297

Consumer automobile loans
 
150,891

 
700

 
74

 
50

 
151,715

Other consumer installment loans
 
21,451

 
522

 
15

 
—

 
21,988

 
 
1,325,684

 
$
11,057

 
$
1,503

 
$
9,797

 
1,348,041

Net deferred loan fees and discounts
 
1,359

 
 

 
 

 
 

 
1,359

Allowance for loan losses
 
(12,500
)
 
 

 
 

 
 

 
(12,500
)
Loans, net
 
$
1,314,543

 
 

 
 

 
 

 
$
1,336,900


 
 
December 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
 
$
153,737

 
$
249

 
$
30

 
$
2,197

 
$
156,213

Real estate mortgage:
 
 

 
 

 
 

 
 

 
 

Residential
 
615,580

 
4,881

 
1,529

 
1,266

 
623,256

Commercial
 
355,597

 
775

 
164

 
6,725

 
363,261

Construction
 
37,871

 
131

 
—

 
65

 
38,067

Consumer automobile loans
 
149,703

 
709

 
—

 
105

 
150,517

Other consumer installment loans
 
22,124

 
579

 
324

 
16

 
23,043

 
 
1,334,612

 
$
7,324

 
$
2,047

 
$
10,374

 
1,354,357

Net deferred loan fees and discounts
 
1,187

 
 

 
 

 
 

 
1,187

Allowance for loan losses
 
(11,894
)
 
 

 
 

 
 

 
(11,894
)
Loans, net
 
$
1,323,905

 
 

 
 

 
 

 
$
1,343,650
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, 2020 and 2019:
 
 
 
Three Months Ended March 31,
 
 
2020
 
2019
(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
 
$
9

 
$
—

 
$
24

 
$
39

Real estate mortgage:
 
 

 
 

 
 

 
 

Residential
 
9

 
—

 
33

 
23

Commercial
 
42

 
—

 
89

 
40

Construction
 
—

 
—

 
1

 
1

Consumer automobile loans
 
2

 
—

 
2

 
1

Other consumer installment loans
 
—

 
—

 
1

 
—

 
 
$
62

 
$
—

 
$
150

 
$
104
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, 2020 and December 31, 2019:
 
 
March 31, 2020
 
 
Recorded
 
Unpaid Principal
 
Related
(In Thousands)
 
Investment
 
Balance
 
Allowance
With no related allowance recorded:
 
 

 
 

 
 

Commercial, financial, and agricultural
 
$
1,921

 
$
4,708

 
$
—

Real estate mortgage:
 
 

 
 

 
 

Residential
 
4,656

 
4,656

 
—

Commercial
 
5,089

 
5,089

 
—

Construction
 
65

 
65

 
—

Consumer automobile loans
 
—

 
—

 
—

Installment loans to individuals
 
—

 
—

 
—

 
 
11,731

 
14,518

 
—

With an allowance recorded:
 
 

 
 

 
 

Commercial, financial, and agricultural
 
104

 
104

 
—

Real estate mortgage:
 
 

 
 

 
 

Residential
 
1,074

 
1,074

 
177

Commercial
 
3,472

 
3,522

 
1,062

Construction
 
—

 
—

 
—

Consumer automobile loans
 
21

 
21

 
5

Installment loans to individuals
 
—

 
—

 
—

 
 
4,671

 
4,721

 
1,244

Total:
 
 

 
 

 
 

Commercial, financial, and agricultural
 
2,025

 
4,812

 
—

Real estate mortgage:
 
 

 
 

 
 

Residential
 
5,730

 
5,730

 
177

Commercial
 
8,561

 
8,611

 
1,062

Construction
 
65

 
65

 
—

Consumer automobile loans
 
21

 
21

 
5

Installment loans to individuals
 
—

 
—

 
—

 
 
$
16,402

 
$
19,239

 
$
1,244


 
 
December 31, 2019
 
 
Recorded
 
Unpaid Principal
 
Related
(In Thousands)
 
Investment
 
Balance
 
Allowance
With no related allowance recorded:
 
 

 
 

 
 

Commercial, financial, and agricultural
 
$
2,285

 
$
5,072

 
$
—

Real estate mortgage:
 
 

 
 

 
 

Residential
 
5,008

 
5,008

 
—

Commercial
 
5,035

 
5,035

 
—

Construction
 
65

 
65

 
—

Consumer automobile loans
 
—

 
—

 
—

Installment loans to individuals
 
—

 
—

 
—

 
 
12,393

 
15,180

 
—

With an allowance recorded:
 
 

 
 

 
 

Commercial, financial, and agricultural
 
—

 
—

 
—

Real estate mortgage:
 
 

 
 

 
 

Residential
 
1,168

 
1,200

 
211

Commercial
 
3,540

 
3,590

 
1,104

Construction
 
—

 
—

 
—

Consumer automobile loans
 
130

 
130

 
62

Installment loans to individuals
 
16

 
16

 
16

 
 
4,854

 
4,936

 
1,393

Total:
 
 

 
 

 
 

Commercial, financial, and agricultural
 
2,285

 
5,072

 
—

Real estate mortgage:
 
 

 
 

 
 

Residential
 
6,176

 
6,208

 
211

Commercial
 
8,575

 
8,625

 
1,104

Construction
 
65

 
65

 
—

Consumer automobile loans
 
130

 
130

 
62

Installment loans to individuals
 
16

 
16

 
16

 
 
$
17,247

 
$
20,116

 
$
1,393
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 March 31, 2020 and 2019:
 
 
 
Three Months Ended March 31,
 
 
2020
 
2019
(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
 
$
2,155

 
$
1

 
$
—

 
$
5,302

 
$
1

 
$
38

Real estate mortgage:
 
 

 
 

 
 

 
 

 
 

 
 

Residential
 
5,953

 
57

 
—

 
4,163

 
28

 
17

Commercial
 
8,568

 
26

 
—

 
11,069

 
31

 
36

Construction
 
65

 
—

 
—

 
73

 
—

 
1

Consumer automobile
 
76

 
—

 
—

 
52

 
—

 
1

Other consumer installment loans
 
8

 
—

 
—

 
18

 
—

 
—

 
 
$
16,825

 
$
84

 
$
—

 
$
20,677

 
$
60

 
$
93
Schedule of credit quality categories
The following table presents the credit quality categories identified above as of March 31, 2020 and December 31, 2019:
 
 
March 31, 2020
 
 
Commercial, Financial, and Agricultural
 
Real Estate Mortgages
 
Consumer automobile
 
Other consumer installment loans
 
 
(In Thousands)
 
 
Residential
 
Commercial
 
Construction
 
 
 
Totals
Pass
 
$
151,756

 
$
611,584

 
$
346,727

 
$
39,163

 
$
151,715

 
$
21,985

 
$
1,322,930

Special Mention
 
3,154

 
2,416

 
5,018

 
—

 
—

 
—

 
10,588

Substandard
 
3,240

 
2,154

 
8,992

 
134

 
—

 
3

 
14,523

 
 
$
158,150

 
$
616,154

 
$
360,737

 
$
39,297

 
$
151,715

 
$
21,988

 
$
1,348,041


 
 
December 31, 2019
 
 
Commercial, Financial, and Agricultural
 
Real Estate Mortgages
 
Consumer automobile
 
Other consumer installment loans
 
 
(In Thousands)
 
 
Residential
 
Commercial
 
Construction
 
 
 
Totals
Pass
 
$
149,349

 
$
618,350

 
$
348,864

 
$
37,931

 
$
150,517

 
$
23,039

 
$
1,328,050

Special Mention
 
3,174

 
2,436

 
5,080

 
—

 
—

 
—

 
10,690

Substandard
 
3,690

 
2,470

 
9,317

 
136

 
—

 
4

 
15,617

 
 
$
156,213

 
$
623,256

 
$
363,261

 
$
38,067

 
$
150,517

 
$
23,043

 
$
1,354,357
Schedule of activity in the allowance
Activity in the allowance is presented for the three months ended March 31, 2020 and 2019:
 
 
 
 
t
 
Three Months Ended March 31, 2020
 
 
Commercial, Financial, and Agricultural
 
Real Estate Mortgages
 
Consumer automobile
 
Other consumer installment
 
 
 
 
(In Thousands)
 
 
Residential
 
Commercial
 
Construction
 
 
 
Unallocated
 
Totals
Beginning Balance
 
$
1,779

 
$
4,306

 
$
3,210

 
$
118

 
$
1,780

 
$
278

 
$
423

 
$
11,894

Charge-offs
 
(14
)
 
(41
)
 
—

 
—

 
(75
)
 
(100
)
 
—

 
(230
)
Recoveries
 
21

 
21

 
—

 
2

 
1

 
41

 
—

 
86

Provision
 
111

 
251

 
204

 
40

 
149

 
48

 
(53
)
 
750

Ending Balance
 
$
1,897

 
$
4,537

 
$
3,414

 
$
160

 
$
1,855

 
$
267

 
$
370

 
$
12,500

 
 
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
Schedule of concentration of loan
The Company has a concentration of the following to gross loans at March 31, 2020 and 2019: 
 
 
March 31,
 
 
2020
 
2019
Owners of residential rental properties
 
16.04
%
 
14.82
%
Owners of commercial rental properties
 
12.53
%
 
12.07
%
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, 2020 and December 31, 2019:
 
 
March 31, 2020
 
 
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
 
$
—

 
$
177

 
$
1,062

 
$
—

 
$
5

 
$
—

 
$
—

 
$
1,244

Collectively evaluated for impairment
 
1,897

 
4,360

 
2,352

 
160

 
1,850

 
267

 
370

 
11,256

Total ending allowance balance
 
$
1,897

 
$
4,537

 
$
3,414

 
$
160

 
$
1,855

 
$
267

 
$
370

 
$
12,500

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 

 
 

 
 

 
 

 
 
 
 

 
 

 
 

Individually evaluated for impairment
 
$
2,025

 
$
5,730

 
$
8,561

 
$
65

 
$
21

 
$
—

 


 
$
16,402

Collectively evaluated for impairment
 
156,125

 
610,424

 
352,176

 
39,232

 
151,694

 
21,988

 


 
1,331,639

Total ending loans balance
 
$
158,150

 
$
616,154

 
$
360,737

 
$
39,297

 
$
151,715

 
$
21,988

 


 
$
1,348,041


 
 
December 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
 
$
—

 
$
211

 
$
1,104

 
$
—

 
$
62

 
$
16

 
$
—

 
$
1,393

Collectively evaluated for impairment
 
1,779

 
4,095

 
2,106

 
118

 
1,718

 
262

 
423

 
10,501

Total ending allowance balance
 
$
1,779

 
$
4,306

 
$
3,210

 
$
118

 
$
1,780

 
$
278

 
$
423

 
$
11,894

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 

 
 

 
 

 
 

 
 
 
 

 
 

 
 

Individually evaluated for impairment
 
$
2,285

 
$
6,176

 
$
8,575

 
$
65

 
$
130

 
$
16

 
 

 
$
17,247

Collectively evaluated for impairment
 
153,928

 
617,080

 
354,686

 
38,002

 
150,387

 
23,027

 
 

 
1,337,110

Total ending loans balance
 
$
156,213

 
$
623,256

 
$
363,261

 
$
38,067

 
$
150,517

 
$
23,043

 
 

 
$
1,354,357