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Loans (Tables)
 3 Months Ended
Mar. 31, 2019
Receivables [Abstract]  
Components of Loans Receivable
The loan portfolio consisted of the following (in thousands):
 
 
March 31, 2019
 
December 31, 2018
Commercial, financial and agricultural
 
$
255,410

 
$
267,340

Real estate – construction
 
89,723

 
87,506

Real estate – commercial
 
376,523

 
368,449

Real estate – residential
 
130,700

 
132,435

Consumer and other
 
40,784

 
43,506

Lease financing receivable
 
510

 
549

Total loans
 
893,650

 
899,785

Allowance for loan and lease losses
 
(24,779
)
 
(17,430
)
Total loans, net
 
$
868,871

 
$
882,355
Roll Forward of Activity in Allowance for Loan Losses
A rollforward of the activity within the allowance for loan losses by loan type and recorded investment in loans as of and for the three months ended March 31, 2019 and 2018 is as follows (in thousands):
 
 
 
March 31, 2019
 
 
Commercial, Financial & Agricultural
 
Real Estate - Construction
 
Real Estate- Commercial
 
Real Estate - Residential
 
Consumer and other
 
Lease
financing
receivable
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
10,633

 
$
140

 
$
4,913

 
$
1,156

 
$
585

 
$
3

 
$
17,430

Charge-offs
 
(293
)
 
—

 


 
—

 
(91
)
 
—

 
(384
)
Recoveries
 
82

 
—

 
25

 
1

 
25

 
—

 
133

Provision
 
8,431

 
271

 
(560
)
 
(504
)
 
(35
)
 
(3
)
 
7,600

Ending balance
 
$
18,853

 
$
411

 
$
4,378

 
$
653

 
$
484

 
$
—

 
$
24,779

Ending balance: individually evaluated for impairment
 
$
8,040

 
$
—

 
$
75

 
$
—

 
$
—

 
$
—

 
$
8,115

Ending balance: collectively evaluated for impairment
 
$
10,813

 
$
411

 
$
4,303

 
$
653

 
$
484

 
$
—

 
$
16,664

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Ending balance
 
$
255,410

 
$
89,723

 
$
376,523

 
$
130,700

 
$
40,784

 
$
510

 
$
893,650

Ending balance: individually evaluated for impairment
 
$
16,938

 
$
323

 
$
4,412

 
$
—

 
$
—

 
$
—

 
$
21,673

Ending balance: collectively evaluated for impairment
 
$
238,472

 
$
89,400

 
$
372,111

 
$
130,700

 
$
40,784

 
$
510

 
$
871,977

 
 
March 31, 2018
 
 
Commercial, Financial & Agricultural
 
Real Estate - Construction
 
Real Estate- Commercial
 
Real Estate - Residential
 
Consumer and other
 
Lease
financing
receivable
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
20,577

 
$
596

 
$
3,918

 
$
837

 
$
957

 
$
3

 
$
26,888

Charge-offs
 
(1,524
)
 
(2
)
 
(86
)
 
(3
)
 
(221
)
 
—

 
(1,836
)
Recoveries
 
276

 
—

 
6

 
1

 
36

 
—

 
319

Provision
 
(264
)
 
159

 
(105
)
 
64

 
146

 
—

 
—

Ending balance
 
$
19,065

 
$
753

 
$
3,733

 
$
899

 
$
918

 
$
3

 
$
25,371

Ending balance: individually evaluated for impairment
 
$
5,968

 
$
94

 
$
76

 
$
20

 
$
6

 
$
—

 
$
6,164

Ending balance: collectively evaluated for impairment
 
$
13,097

 
$
659

 
$
3,657

 
$
879

 
$
912

 
$
3

 
$
19,207

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Ending balance
 
$
401,048

 
$
94,679

 
$
444,277

 
$
145,671

 
$
50,888

 
$
692

 
$
1,137,255

Ending balance: individually evaluated for impairment
 
$
55,092

 
$
192

 
$
26,005

 
$
2,088

 
$
50

 
$
—

 
$
83,427

Ending balance: collectively evaluated for impairment
 
$
345,956

 
$
94,487

 
$
418,272

 
$
143,583

 
$
50,838

 
$
692

 
$
1,053,828
Age Analysis of Past Due Loans by Class of Loans
An age analysis of past due loans (including both accruing and non-accruing loans) is as follows (in thousands):
 
 
March 31, 2019
 
 
30-59
Days
Past Due
 
60-89
Days
Past
Due
 
Greater
than 90
Days
Past Due
 
Total
Past
Due
 
Current
 
Total Loans
 
Loans >90 Days Past Due and Still Accruing
Commercial, financial and agricultural
 
$
1,658

 
$
62

 
$
3,630

 
$
5,350

 
$
250,060

 
$
255,410

 
$
—

Real estate – construction
 
4,332

 
128

 
117

 
4,577

 
85,146

 
89,723

 
—

Real estate – commercial
 
984

 
—

 
1,394

 
2,378

 
374,145

 
376,523

 
—

Real estate – residential
 
213

 
427

 
1,194

 
1,834

 
128,866

 
130,700

 
—

Consumer and other
 
85

 
27

 
29

 
141

 
40,643

 
40,784

 
—

Lease financing receivable
 
—

 
—

 
—

 
—

 
510

 
510

 
—

 
 
$
7,272

 
$
644

 
$
6,364

 
$
14,280

 
$
879,370

 
$
893,650

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
30-59
Days
Past Due
 
60-89
Days
Past
Due
 
Greater
than 90
Days
Past Due
 
Total
Past
Due
 
Current
 
Total Loans
 
Loans >90 Days Past Due and Still Accruing

Commercial, financial and agricultural
 
$
385

 
$
902

 
$
2,173

 
$
3,460

 
$
263,880

 
$
267,340

 
$
—

Real estate – construction
 
47

 
—

 
117

 
164

 
87,342

 
87,506

 
—

Real estate – commercial
 
435

 
—

 
771

 
1,206

 
367,243

 
368,449

 
—

Real estate – residential
 
695

 
31

 
1,407

 
2,133

 
130,302

 
132,435

 
—

Consumer and other
 
176

 
28

 
56

 
260

 
43,246

 
43,506

 
—

Lease financing receivable
 
—

 
—

 
—

 
—

 
549

 
549

 
—

 
 
$
1,738

 
$
961

 
$
4,524

 
$
7,223

 
$
892,562

 
$
899,785

 
$
—
Schedule of Loans on Nonaccrual Status
Non-accrual loans are as follows (in thousands):
 
 
 
March 31, 2019
 
December 31, 2018
Commercial, financial, and agricultural
 
$
16,629

 
$
3,599

Real estate - construction
 
351

 
278

Real estate - commercial
 
4,462

 
2,977

Real estate - residential
 
1,720

 
2,008

Consumer and other
 
29

 
58

 
 
$
23,191

 
$
8,920
Schedule of Loans Evaluated for Impairment
The following table presents loans that are individually evaluated for impairment (in thousands). Interest income recognized represents interest on accruing loans modified in a troubled debt restructuring (TDR).
 
 
March 31, 2019
 
December 31, 2018
 
 
Recorded
Investment(1)
 
Unpaid Principal Balance
 
Related
Allowance (1)
 
Recorded
Investment (1)
 
Unpaid Principal Balance
 
Related
Allowance (1)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, and agricultural
 
$
3,299

 
$
4,988

 
$
—

 
$
2,924

 
$
3,011

 
$
—

Real estate - construction
 
323

 
323

 
—

 
117

 
117

 
—

Real estate - commercial
 
4,281

 
5,439

 
—

 
3,395

 
3,395

 
—

Real estate - residential
 
—

 
—

 
—

 
—

 
 
 
—

Consumer and other
 
—

 
—

 
—

 
—

 
—

 
—

Subtotal:
 
7,903

 
10,750

 
—

 
6,436

 
6,523

 
—

With an allowance recorded:
 
 

 
 

 
 

 
 

 
 

 
 

Commercial, financial, and agricultural
 
13,639

 
13,781

 
8,040

 
1,025

 
1,025

 
470

Real estate - construction
 
—

 
—

 
—

 
131

 
131

 
4

Real estate - commercial
 
131

 
131

 
75

 
—

 
—

 
—

Real estate - residential
 
—

 
—

 
—

 
—

 
—

 
—

   Consumer and other
 
—

 
—

 
—

 
—

 
—

 
—

Subtotal:
 
13,770

 
13,912

 
8,115

 
1,156

 
1,156

 
474

Total impaired loans
 
21,673

 
24,662

 
8,115

 
7,592

 
7,679

 
474


(1) Troubled debt restructuring totaling $2.8 million and $1.3 million are included in the recorded investment of impaired loans as of March 31, 2019 and December 31, 2018.

The average balances of impaired loans and income recognized on impaired loans while they were considered impaired are presented below for the periods indicated (in thousands). 
 
March 31, 2019
 
March 31, 2018
 
Average Recorded Investment
 
Interest Income Recognized During Impairment
 
Average Recorded Investment
 
Interest Income Recognized During Impairment
Commercial, financial, and agricultural
17,430

 
12

 
46,935

 
18

Real estate - construction
336

 
—

 
129

 
—

Real estate - commercial
6,729

 
—

 
18,567

 
—

Real estate - residential
—

 
—

 
1,353

 
—

   Consumer and other
—

 
—

 
—

 
—

Total
24,495

 
12

 
66,984

 
18
Credit Quality Indicators by Class of Loans
The following tables present the classes of loans by risk rating (in thousands):
 
 
 
  
 
Special
 
 
 
 
 
 
 
 
Pass
 
Mention
 
Substandard
 
Doubtful
 
Total
March 31, 2019
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural
 
$
224,476

 
$
10,871

 
$
20,063

 
$
—

 
$
255,410

Real estate – construction
 
84,869

 
4,428

 
426

 
—

 
89,723

Real estate – commercial
 
338,994

 
19,156

 
18,373

 
—

 
376,523

Real estate – residential
 
124,742

 
1,911

 
4,047

 
—

 
130,700

Consumer and other
 
40,725

 
1

 
58

 
—

 
40,784

Lease financing receivable
 
510

 
—

 
—

 
—

 
510

Total loans
 
$
814,316

 
$
36,367

 
$
42,967

 
$
—

 
$
893,650

 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural
 
$
240,232

 
$
20,259

 
$
6,849

 
$
—

 
$
267,340

Real estate – construction
 
83,240

 
3,910

 
356

 
—

 
87,506

Real estate – commercial
 
329,213

 
23,475

 
15,761

 
—

 
368,449

Real estate – residential
 
125,984

 
1,955

 
4,496

 
—

 
132,435

Consumer and other
 
43,416

 
5

 
85

 
—

 
43,506

Lease financing receivable
 
549

 
—

 
—

 
—

 
549

Total loans
 
$
822,634

 
$
49,604

 
$
27,547

 
$
—

 
$
899,785
Schedule of Modified Troubled Debt Restructurings During the Period
The following tables present information about TDRs that were modified during the periods presented by portfolio segment (in thousands):
 
 
Three months ended
 
 
March 31, 2019
 
March 31, 2018
 
 
Number of loans
 
Pre-modification recorded investment
 
Number of loans
 
Pre-modification recorded investment
Commercial, financial and agricultural (1)
 
3

 
$
1,983

 
—

 
$
—

(1) The pre-modification and post-modification recorded investment amount represent the recorded investment on the date of the loan modification. Since the modification of these loans were payment modifications, not principal reductions, the pre-modification and post-modification recorded investment amount is the same.