Loans And The Allowance For Credit Losses (Tables)

3 Months Ended

Mar. 31, 2013

Loans And The Allowance For Credit Losses [Abstract]

Composition Of The Loan Portfolio

(In thousands)	March 31, 2013		December 31, 2012
Commercial, financial and agricultural	$	168,500	$	165,023
Municipal loans		85,211		84,689
Real estate loans – residential		504,226		489,951
Real estate loans – commercial		324,208		327,622
Real estate loans – construction		14,115		10,561
Installment loans		5,192		4,701
All other loans		261		376
Total loans	$	1,101,713	$	1,082,923

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 by portfolio segment for the three months ended March 31, 2013:

(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	$	3,447	$	522	$	3,582	$	4,499	$	234	$	17	$	11	$	12,312
Charge-offs		0		0		(7)		(1)		0		0		(20)		(28)
Recoveries		9		0		3		40		1		0		1		54
Provision (credit)		(45)		133		130		(27)		40		(1)		20		250
Ending balance	$	3,411	$	655	$	3,708	$	4,511	$	275	$	16	$	12	$	12,588

The following table reflects our loan loss experience and activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 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		0		0		0		0		0		0		0		0
Recoveries		20		0		1		1		7		0		0		29
Provision (credit)		(192)		233		235		199		(204)		(5)		(16)		250
Ending balance	$	2,733	$	542	$	3,374	$	4,684	$	280	$	18	$	1	$	11,632

Allowance For Loan Losses And The Recorded Investment In Loans

The following presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based upon impairment method at March 31, 2013:

(In thousands)	Commercial, financial and agricultural		Municipal		Real estate- residential		Real estate- commercial		Real estate-construction		Installment		All other		Totals
Allowance for credit losses:
Ending balance individually evaluated for impairment	$	126	$	0	$	491	$	58	$	0	$	3	$	0	$	678
Ending balance collectively evaluated for impairment		3,285		655		3,217		4,453		275		13		12		11,910
Totals	$	3,411	$	655	$	3,708	$	4,511	$	275	$	16	$	12	$	12,588
Financing receivables:
Ending balance individually evaluated for impairment	$	724	$	0	$	2,401	$	281	$	0	$	9	$	0	$	3,415
Ending balance collectively evaluated for impairment		167,776		85,211		501,825		323,927		14,115		5,183		261		1,098,298
Totals	$	168,500	$	85,211	$	504,226	$	324,208	$	14,115	$	5,192	$	261	$	1,101,713
Components:
Allowance for loan losses	$	2,829	$	648	$	3,621	$	4,452	$	218	$	16	$	12	$	11,796
Reserve for undisbursed lines of credit		582		7		87		59		57		0		0		792
Total allowance for credit losses	$	3,411	$	655	$	3,708	$	4,511	$	275	$	16	$	12	$	12,588

The following presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based upon impairment method at December 31, 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:
Ending balance individually evaluated for impairment	$	149	$	0	$	361	$	59	$	0	$	0	$	0	$	569
Ending balance collectively evaluated for impairment		3,298		522		3,221		4,440		234		17		11		11,743
Totals	$	3,447	$	522	$	3,582	$	4,499	$	234	$	17	$	11	$	12,312
Financing receivables:
Ending balance individually evaluated for impairment	$	233	$	0	$	2,317	$	472	$	0	$	0	$	0	$	3,022
Ending balance collectively evaluated for impairment		164,790		84,689		487,634		327,150		10,561		4,701		376		1,079,901
Totals	$	165,023	$	84,689	$	489,951	$	327,622	$	10,561	$	4,701	$	376	$	1,082,923
Components:
Allowance for loan losses	$	2,915	$	494	$	3,494	$	4,444	$	187	$	17	$	11	$	11,562
Reserve for undisbursed lines of credit		532		28		88		55		47		0		0		750
Total allowance for credit losses	$	3,447	$	522	$	3,582	$	4,499	$	234	$	17	$	11	$	12,312

Recorded Investment of Loans, Including Nonaccrual And Restructured Loans

The table below presents the recorded investment of loans, including nonaccrual and restructured loans, segregated by class, with delinquency aging as of March 31, 2013:

	30-59 Days		60-89 Days		90 Days or More		Total Past						Greater Than 90 Days and
(In thousands)	Past Due		Past Due		Past Due		Due		Current		Total		Accruing
Commercial, financial and agricultural	$	818	$	0	$	0	$	818	$	167,682	$	168,500	$	0
Municipal		0		0		0		0		85,211		85,211		0
Real estate-residential:
First mortgage		101		163		974		1,238		465,805		467,043		0
Second mortgage		80		0		716		796		36,387		37,183		0
Real estate-commercial:
Owner occupied		68		0		107		175		221,175		221,350		0
Non-owner occupied		0		74		0		74		102,784		102,858		0
Real estate-construction:
Residential		0		0		0		0		1,859		1,859		0
Commercial		0		0		0		0		12,256		12,256		0
Installment		1		0		0		1		5,191		5,192		0
Other		0		0		0		0		261		261		0
Total	$	1,068	$	237	$	1,797	$	3,102	$	1,098,611	$	1,101,713	$	0

Out of the $4.21 million in past due loans above $2.12 million are non-accruing or restructured.

The table below presents the recorded investment of loans, including nonaccrual and restructured loans, segregated by class, with delinquency aging as of December 31, 2012:

	30-59 Days		60-89 Days		90 Days or More		Total Past						Greater Than 90 Days and
	Past Due		Past Due		Past Due		Due		Current		Total		Accruing
Commercial, financial and agricultural	$	0	$	0	$	0	$	0	$	165,023	$	165,023	$	0
Municipal		0		0		0		0		84,689		84,689		0
Real estate-residential:
First mortgage		92		43		950		1,085		449,956		451,041		0
Second mortgage		0		0		716		716		38,194		38,910		0
Real estate-commercial:
Owner occupied		0		0		295		295		222,013		222,308		0
Non-owner occupied		0		0		0		0		105,314		105,314		0
Real estate-construction:
Residential		0		0		0		0		1,559		1,559		0
Commercial		0		0		0		0		9,002		9,002		0
Installment		0		0		0		0		4,701		4,701		0
Other		0		0		0		0		376		376		0
Total	$	92	$	43	$	1,961	$	2,096	$	1,080,827	$	1,082,923	$	0

Impaired Loans By Class

Impaired loans by class at March 31, 2013 are as follows:

(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance
With no related allowance recorded
Commercial, financial and agricultural	$	306	$	1,244	$	0
Real estate – residential:
First mortgage		836		1,237		0
Second mortgage		171		207		0
Real estate – commercial:
Owner occupied		107		243		0
Non-owner occupied		0		70		0
Installment		0		44		0
With related allowance recorded
Commercial, financial and agricultural		418		435		126
Real estate – residential:
First mortgage		694		702		154
Second mortgage		700		700		337
Real estate – commercial:
Owner occupied		174		178		58
Installment		9		10		3
Total
Commercial, financial and agricultural		724		1,679		126
Real estate – residential		2,401		2,846		491
Real estate – commercial		281		491		58
Installment		9		54		3
Total	$	3,415	$	5,070	$	678

Impaired loans by class at December 31, 2012 are as follows:

(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance
With no related allowance recorded
Commercial, financial and agricultural	$	7	$	970	$	0
Real estate – residential:
First mortgage		853		1,174		0
Second mortgage		16		52		0
Real estate – commercial:
Owner occupied		295		487		0
Non-owner occupied		0		70		0
Installment		0		45		0
With related allowance recorded
Commercial, financial and agricultural		226		228		149
Real estate – residential:
First mortgage		748		766		173
Second mortgage		700		700		188
Real estate – commercial:
Owner occupied		177		179		59
Non-owner occupied
Total
Commercial, financial and agricultural		233		1,198		149
Real estate – residential		2,317		2,692		361
Real estate – commercial		472		736		59
Installment		0		45		0
Total	$	3,022	$	4,671	$	569

Average Recorded Investment And Interest Income Recognized

	Three Months Ended March 31, 2013				Three Months Ended March 31, 2012
(In thousands)	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded
Commercial, financial and agricultural	$	107	$	8	$	70	$	7
Real estate – residential:
First mortgage		841		33		818		14
Second mortgage		67		0		199		0
Real estate – commercial:
Owner occupied		36		15		335		1
Non-owner occupied		0		0		0		0
Installment		3		0		0		0
With related allowance recorded
Commercial, financial and agricultural		414		0		30		0
Real estate – residential:
First mortgage		677		0		783		0
Second mortgage		700		0		84		0
Real estate – commercial:
Owner occupied		174		0		108		0
Installment		3		0		0		0
Total
Commercial, financial and agricultural		521		8		100		7
Real estate – residential		2,285		33		1,884		14
Real estate – commercial		210		15		443		1
Installment		6		0		0		0
Total	$	3,022	$	56	$	2,427	$	22

Nonperforming Loans

(In thousands)	March 31, 2013		December 31, 2012
Nonaccrual  loans	$	2,876	$	2,355
Loans greater than 90 days and accruing		0		0
TDRs		539		557
Total nonperforming loans	$	3,415	$	2,912

Summary Of Restructurings

	Three Months Ended March 31, 2013					Three Months Ended March 31, 2012
	Number	Pre-Modification Recorded		Post-Modification Recorded		Number	Pre-Modification Recorded		Post-Modification Recorded
(Dollars in thousands)	of Loans	Investment		Investment		of Loans	Investment		Investment
Real estate – residential:
First mortgage	0	$	0	$	0	1	$	182	$	182

Nonaccrual Loans By Class

(In thousands)	March 31, 2013		December 31, 2012
Commercial, financial and agricultural	$	719	$	225
Real estate - residential:
First mortgage		1,170		1,119
Second mortgage		871		716
Real estate - commercial:
Owner occupied		107		295
Non owner occupied		0		0
Installment		9		0
Total nonaccruing non-TDR loans	$	2,876	$	2,355
Nonaccruing TDR’s
Commercial, financial and agricultural		5		8
Real estate – residential:
First mortgage		184		189
Real estate - commercial:
Owner occupied		174		177
Total nonaccrual loans including TDRs	$	3,239	$	2,729

Summary Of Loans By Credit Quality Indicator

Below is a summary of loans by credit quality indicator as of March 31, 2013:

	Unrated Residential and				Pass-		Special		Sub-
(In thousands)	Consumer		Pass		Watch		Mention		Standard		Total
Commercial, financial and agricultural	$	77	$	143,900	$	18,059	$	637	$	5,827	$	168,500
Municipal		0		76,353		8,858		0		0		85,211
Real estate – residential:
First mortgage		433,736		30,250		1,216		191		1,650		467,043
Second mortgage		35,473		1,000		0		0		710		37,183
Real estate – commercial:
Owner occupied		94		179,727		17,188		7,074		17,267		221,350
Non-owner occupied		49		90,219		10,578		608		1,404		102,858
Real estate – construction:
Residential		340		0		1,519		0		0		1,859
Commercial		585		11,154		517		0		0		12,256
Installment		5,192		0		0		0		0		5,192
All other loans		261		0		0		0		0		261
Total	$	475,807	$	532,603	$	57,935	$	8,510	$	26,858	$	1,101,713

Below is a summary of loans by credit quality indicator as of December 31, 2012:

	Unrated Residential and				Pass-		Special		Sub-
(In thousands)	Consumer		Pass		Watch		Mention		Standard		Total
Commercial, financial and agricultural	$	85	$	138,307	$	18,738	$	5,704	$	2,189	$	165,023
Municipal		5		77,242		7,442		0		0		84,689
Real estate – residential:
First mortgage		418,802		29,237		1,275		194		1,533		451,041
Second mortgage		37,200		1,000		0		0		710		38,910
Real estate – commercial:
Owner occupied		86		188,330		16,718		3,546		13,628		222,308
Non-owner occupied		40		93,002		10,211		613		1,448		105,314
Real estate – construction:
Residential		41		0		1,518		0		0		1,559
Commercial		598		7,882		522		0		0		9,002
Installment		4,701		0		0		0		0		4,701
All other loans		376		0		0		0		0		376
Total	$	461,934	$	535,000	$	56,424	$	10,057	$	19,508	$	1,082,923