Loans And The Allowance For Credit Losses (Tables)

6 Months Ended

Jun. 30, 2012

Loans And The Allowance For Credit Losses [Abstract]

Loan Loss Experience And Activity In The Allowance For Credit Losses

The following table reflects our loan loss experience and activity in the allowance for credit losses for the three months ended June 30, 2012:



(In thousands)	Commercial, financial and agricultural		Municipal		Real estate- residential		Real estate- commercial		Real estate-construction		Installment		All other		Totals
Allowance for credit losses:
Beginning balance	$	2,733	$	542	$	3,374	$	4,684	$	280	$	18	$	1	$	11,632
Charge-offs		(9)		0		(20)		0		0		0		0		(29)
Recoveries		(2)		0		12		(1)		5		0		0		14
Provision (credit)		380		(132)		110		(126)		(52)		3		17		200
Ending balance	$	3,102	$	410	$	3,476	$	4,557	$	233	$	21	$	18	$	11,817

The following table reflects our loan loss experience and activity in the allowance for credit losses for the six months ended June 30, 2012, and our loan portfolio as of June 30, 2012:



(In thousands)	Commercial, financial and agricultural		Municipal		Real estate- residential		Real estate- commercial		Real estate-construction		Installment		All other		Totals
Allowance for credit losses:
Beginning balance	$	2,905	$	309	$	3,138	$	4,484	$	477	$	23	$	17	$	11,353
Charge-offs		(9)		0		(20)		0		0		0		0		(29)
Recoveries		18		0		12		0		13		0		0		43
Provision (credit)		188		101		346		73		(257)		(2)		1		450
Ending balance	$	3,102	$	410	$	3,476	$	4,557	$	233	$	21	$	18	$	11,817
Ending balance individually
evaluated for impairment	$	3	$	0	$	201	$	0	$	0	$	0	$	0	$	204
Ending balance collectively
evaluated for impairment		3,099		410		3,275		4,557		233		21		18		11,613
Totals	$	3,102	$	410	$	3,476	$	4,557	$	233	$	21	$	18	$	11,817
Financing receivables:
Ending balance individually
evaluated for impairment	$	69	$	0	$	2,479	$	582	$	0	$	0	$	0	$	3,130
Ending balance collectively
evaluated for impairment		173,045		42,578		461,723		329,116		9,875		5,842		356		1,022,535
Totals	$	173,114	$	42,578	$	464,202	$	329,698	$	9,875	$	5,842	$	356	$	1,025,665
Components:
Allowance for loan losses	$	2,673	$	408	$	3,384	$	4,520	$	179	$	21	$	18	$	11,203
Reserve for undisbursed
lines of credit		429		2		92		37		54		0		0		614
Total allowance for credit
losses	$	3,102	$	410	$	3,476	$	4,557	$	233	$	21	$	18	$	11,817

The following table reflects our loan loss experience and activity in the allowance for credit losses for the three months ended June 30, 2011:



(In thousands)	Commercial, financial and agricultural		Municipal		Real estate- residential		Real estate- commercial		Real estate-construction		Installment		All other		Totals
Allowance for credit losses:
Beginning balance	$	2,689	$	289	$	2,683	$	4,708	$	248	$	28	$	111	$	10,756
Charge-offs		(34)		0		(41)		(60)		0		0		0		(135)
Recoveries		23		0		0		0		6		1		0		30
Provision (credit)		444		(174)		(79)		208		(61)		(4)		(84)		250
Ending balance	$	3,122	$	115	$	2,563	$	4,856	$	193	$	25	$	27	$	10,901

The following table reflects our loan loss experience and activity in the allowance for credit losses for the six months ended June 30, 2011, and our loan portfolio as of June 30, 2011:



(In thousands)	Commercial, financial and agricultural		Municipal		Real estate- residential		Real estate- commercial		Real estate-construction		Installment		All other		Totals
Allowance for credit losses:
Beginning balance	$	2,617	$	236	$	2,428	$	5,143	$	283	$	24	$	23	$	10,754
Charge-offs		(77)		0		(49)		(60)		(11)		(8)		0		(205)
Recoveries		44		0		1		43		11		3		0		102
Provision (credit)		538		(121)		183		(270)		(90)		6		4		250
Ending balance	$	3,122	$	115	$	2,563	$	4,856	$	193	$	25	$	27	$	10,901
Ending balance individually
evaluated for impairment	$	130	$	0	$	79	$	0	$	0	$	0	$	0	$	209
Ending balance collectively
evaluated for impairment		2,992		115		2,484		4,856		193		25		27		10,692
Totals	$	3,122		115	$	2,563	$	4,856	$	193	$	25	$	27	$	10,901
Financing receivables:
Ending balance individually
evaluated for impairment	$	428	$	0	$	2,199	$	656	$	158	$	3	$	0	$	3,444
Ending balance collectively
evaluated for impairment		165,237		37,933		416,047		303,691		10,145		6,316		537		939,906
Totals	$	165,665	$	37,933	$	418,246	$	304,347	$	10,303	$	6,319	$	537	$	943,350
Components:
Allowance for loan losses	$	2,806	$	115	$	2,492	$	4,796	$	177	$	25	$	27	$	10,438
Reserve for undisbursed
lines of credit		316		0		71		60		16		0		0		463
Total allowance for credit
losses	$	3,122	$	115	$	2,563	$	4,856	$	193	$	25	$	27	$	10,901

Aging Of Past Due Loans, Including Nonaccrual And Restructured Loans, By Class

Presented below is an aging of past due loans, including both non-accrual and restructured loans, by class as of June 30, 2012:



	30-59 Days		60-89 Days		Over 90 Days		Total Past						Greater Than 90 Days and
(In thousands)	Past Due		Past Due		Past Due		Due		Current		Total		Accruing
Commercial, financial and agricultural	$	0	$	0	$	9	$	9	$	173,105	$	173,114	$	0
Municipal		0		0		0		0		42,578		42,578		0
Real estate-residential:
First mortgage		0		413		603		1,016		424,524		425,540		0
Second mortgage		700		0		204		904		37,758		38,662		0
Real estate-commercial:
Owner occupied		0		76		325		401		219,602		220,003		0
Non-owner occupied		0		0		0		0		109,695		109,695		0
Real estate-construction:
Residential		0		0		0		0		1,749		1,749		0
Commercial		0		0		0		0		8,126		8,126		0
Installment		0		0		0		0		5,842		5,842		0
Other		0		0		0		0		356		356		0
Total	$	700	$	489	$	1,141	$	2,330	$	1,023,335	$	1,025,665	$	0

Non-accruing and restructured loans make up $2.33 million of the total past due loans in the aging table above.

Presented below is an aging of past due loans, including both non-accrual and restructured loans, by class as of December 31, 2011:



	30-59 Days		60-89 Days		Over 90 Days		Total Past						Greater Than 90 Days and
	Past Due		Past Due		Past Due		Due		Current		Total		Accruing
Commercial, financial and agricultural	$	0	$	40	$	8	$	48	$	146,942	$	146,990	$	0
Municipal		0		0		0		0		101,705		101,705		0
Real estate-residential:
First mortgage		39		305		731		1,075		400,256		401,331		0
Second mortgage		0		0		281		281		38,206		38,487		0
Real estate-commercial:
Owner occupied		0		325		87		412		205,844		206,256		0
Non-owner occupied		0		0		0		0		107,659		107,659		0
Real estate-construction:
Residential		0		0		0		0		1,798		1,798		0
Commercial		0		0		0		0		17,195		17,195		0
Installment		0		0		0		0		5,806		5,806		0
Other		0		0		0		0		399		399		0
Total	$	39	$	670	$	1,107	$	1,816	$	1,025,810	$	1,027,626	$	0

Non-accruing and restructured loans make up $1.60 million of the total past due loans in the aging table above.

Impaired Loans By Class

Impaired loans by class at June 30, 2012 were as follows:



(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance
With no related allowance recorded
Commercial, financial and agricultural	$	49	$	998	$	0
Real estate – residential:
First mortgage		1,017		1,281		0
Second mortgage		904		906		0
Real estate – commercial:
Owner occupied		582		743		0
Non-owner occupied		0		70		0
Real estate – construction:
Commercial		0		94		0
Installment		0		45		0
With related allowance recorded
Commercial, financial and agricultural		20		33		3
Real estate – residential:
First mortgage		558		572		201
Second mortgage		0		0		0
Real estate – commercial:
Owner occupied		0		0		0
Total
Commercial, financial and agricultural		69		1,031		3
Real estate – residential		2,479		2,759		201
Real estate – commercial		582		813		0
Real estate – construction		0		94		0
Installment and other		0		45		0
Total	$	3,130	$	4,742	$	204

Impaired loans by class at June 30, 2011 were as follows:



(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance
With no related allowance recorded
Commercial, financial and agricultural	$	133	$	1,196	$	0
Real estate – residential:
First mortgage		1,131		1,373		0
Second mortgage		328		328		0
Real estate – commercial:
Owner occupied		475		475		0
Non-owner occupied		181		251		0
Real estate – construction:
Commercial		158		325		0
Installment		3		27		0
With related allowance recorded
Commercial, financial and agricultural		295		295		130
Real estate – residential:
First mortgage		681		681		76
Second mortgage		59		59		3
Real estate – commercial:
Non-owner occupied		0		0		0
Total
Commercial, financial and agricultural		428		1,491		130
Real estate – residential		2,199		2,441		79
Real estate – commercial		656		726		0
Real estate – construction		158		325		0
Installment and other		3		27		0
Total	$	3,444	$	5,010	$	209

Average Recorded Investment And Interest Income Recognized

The average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2012 were as follows:



	Three months				Six months
(In thousands)	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded
Commercial, financial and agricultural	$	54	$	1	$	62	$	1
Real estate – residential:
First mortgage		747		16		782		20
Second mortgage		443		27		321		27
Real estate – commercial:
Owner occupied		531		2		433		3
Non-owner occupied		0		0		0		0
Real estate – construction:
Commercial		0		0		0		0
Installment		0		0		0		0
With related allowance recorded
Commercial, financial and agricultural		24		0		28		0
Real estate – residential:
First mortgage		624		0		704		0
Second mortgage		17		0		50		0
Real estate – commercial:
Owner occupied		0		0		54		0
Total
Commercial, financial and agricultural		78		1		90		1
Real estate – residential		1,831		43		1,857		47
Real estate – commercial		531		2		487		3
Real estate – construction		0		0		0		0
Installment and other		0		0		0		0
Total	$	2,440	$	46	$	2,434	$	51

The average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2011 were as follows:



	Three months				Six months
(In thousands)	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded
Commercial, financial and agricultural	$	145	$	0	$	186	$	0
Real estate – residential:
First mortgage		1,167		3		1,180		5
Second mortgage		411		1		443		2
Real estate – commercial:
Owner occupied		483		0		474		0
Non-owner occupied		60		0		69		0
Real estate – construction:
Commercial		158		0		161		0
Installment		3		0		4		0
With related allowance recorded
Commercial, financial and agricultural		306		0		390		0
Real estate – residential:
First mortgage		637		0		628		0
Second mortgage		20		0		10		0
Real estate – commercial:
Non-owner occupied		122		0		92		0
Total
Commercial, financial and agricultural		451		0		576		0
Real estate – residential		2,235		4		2,261		7
Real estate – commercial		665		0		635		0
Real estate – construction		158		0		161		0
Installment and other		3		0		4		0
Total	$	3,512	$	4	$	3,637	$	7

Nonperforming Loans

Nonperforming loans at June 30, 2012 and December 31, 2011 were as follows:



(In thousands)	June 30, 2012		December 31, 2011
Nonaccrual loans	$	2,559	$	1,953
Loans greater than 90 days and accruing		0		0
Troubled debt restructured loans (“TDRs”)		571		558
Total nonperforming loans	$	3,130	$	2,511

Summary Of Restructurings



	Three months ended					Six months ended
		Pre-modification		Post-modification			Pre-modification		Post-modification
		Outstanding		Outstanding			Outstanding		Outstanding
	Number	Recorded		Recorded		Number	Recorded		Recorded
(Dollars in thousands)	of Loans	Investment		Investment		of Loans	Investment		Investment
Real estate – residential:
First mortgage	3	$	93	$	93	3	$	93	$	93
Real estate - commercial:
Owner occupied	0	$	0	$	0	1		182		182

Nonaccrual Loans By Class



(In thousands)	June 30, 2012		December 31, 2011
Commercial, financial and agricultural	$	69	$	114
Real estate - residential:
First mortgage		1,186		1,146
Second mortgage		903		281
Real estate - commercial:
Owner occupied		401		412
Nonaccrual non-TDR loans	$	2,559	$	1,953
Nonaccruing TDR’s
Real estate – residential:
First mortgage		145		224
Total nonaccrual loans	$	2,704	$	2,177

Summary Of Loans By Credit Quality Indicator

Below is a summary of loans by credit quality indicator as of June 30, 2012:



	Unrated
	Residential
	and				Pass-		Special		Sub-
(In thousands)	Consumer		Pass		Watch		Mention		Standard		Total
Commercial, financial and agricultural	$	0	$	161,577	$	8,623	$	187	$	2,727	$	173,114
Municipal		0		42,578		0		0		0		42,578
Real estate – residential:
First mortgage		400,406		22,150		1,257		628		1,099		425,540
Second mortgage		36,697		1,167		0		0		798		38,662
Real estate – commercial:
Owner occupied		0		194,521		6,747		5,643		13,092		220,003
Non-owner occupied		0		101,257		5,409		1,505		1,524		109,695
Real estate – construction:
Residential		139		1,610		0		0		0		1,749
Commercial		72		7,525		529		0		0		8,126
Installment		5,842		0		0		0		0		5,842
All other loans		356		0		0		0		0		356
Total	$	443,512	$	532,385	$	22,565	$	7,963	$	19,240	$	1,025,665

Below is a summary of loans by credit quality indicator as of December 31, 2011:



	Unrated
	Residential
	and				Pass-		Special		Sub-
(In thousands)	Consumer		Pass		Watch		Mention		Standard		Total
Commercial, financial and agricultural	$	2	$	117,772	$	28,326	$	170	$	720	$	146,990
Municipal		0		101,705		0		0		0		101,705
Real estate – residential:
First mortgage		379,512		18,647		1,569		641		962		401,331
Second mortgage		38,020		146		0		0		321		38,487
Real estate – commercial:
Owner occupied		0		175,878		14,001		7,355		9,022		206,256
Non-owner occupied		0		95,239		8,891		1,195		2,334		107,659
Real estate – construction:
Residential		99		0		1,699		0		0		1,798
Commercial		81		15,925		573		0		616		17,195
Installment		5,806		0		0		0		0		5,806
All other loans		399		0		0		0		0		399
Total	$	423,919	$	525,312	$	55,059	$	9,361	$	13,975	$	1,027,626