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Loans and Asset Quality Information (Tables)
 3 Months Ended
Mar. 31, 2020
Receivables [Abstract]  
Summary of Major Categories of Total Loans Outstanding

The following is a summary of the major categories of total loans outstanding:
($ in thousands)
March 31, 2020
 
December 31, 2019
 
Amount
 
Percentage
 
Amount
 
Percentage
All  loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, and agricultural
$
521,470

 
12
%
 
$
504,271

 
11
%
Real estate – construction, land development & other land loans
590,485

 
13
%
 
530,866

 
12
%
Real estate – mortgage – residential (1-4 family) first mortgages
1,083,022

 
24
%
 
1,105,014

 
25
%
Real estate – mortgage – home equity loans / lines of credit
331,170

 
7
%
 
337,922

 
8
%
Real estate – mortgage – commercial and other
1,970,716

 
43
%
 
1,917,280

 
43
%
Consumer loans
54,133

 
1
%
 
56,172

 
1
%
Subtotal
4,550,996

 
100
%
 
4,451,525

 
100
%
Unamortized net deferred loan costs
1,712

 
 
 
1,941

 
 
Total loans
$
4,552,708

 
 
 
$
4,453,466

 
 


Included in the table above are the following amounts of SBA loans:
($ in thousands)
March 31,
2020
 
December 31,
2019
Guaranteed portions of SBA Loans included in table above
$
27,985


54,400

Unguaranteed portions of SBA Loans included in table above
119,857


110,782

Total SBA loans included in the table above
$
147,842


165,182

 





Sold portions of SBA loans with servicing retained - not included in table above
$
324,231


316,730
Schedule of Activity in Purchased Credit Impaired Loans
The following table presents changes in the carrying value of PCI loans.
PCI loans
For the Three Months Ended March 31, 2020
 
For the Three Months Ended March 31, 2019
Balance at beginning of period
$
12,664

 
17,393

Change due to payments received and accretion
(2,841
)
 
(1,556
)
Change due to loan charge-offs
(10
)
 
(8
)
Transfers to foreclosed real estate
—

 
—

Other
26

 
38

Balance at end of period
$
9,839

 
15,867


The following table presents changes in the accretable yield for PCI loans.
Accretable Yield for PCI loans
For the Three Months Ended March 31, 2020
 
For the Three Months Ended March 31, 2019
Balance at beginning of period
$
4,149

 
4,750

Accretion
(567
)
 
(392
)
Reclassification from (to) nonaccretable difference
304

 
237

Other, net
(453
)
 
550

Balance at end of period
$
3,433

 
5,145
Schedule of Nonperforming Assets and Nonaccrual Loans
The following is a summary of the Company’s nonaccrual loans by major categories.
($ in thousands)
March 31,
2020
 
December 31,
2019
Commercial, financial, and agricultural
$
3,703

 
5,518

Real estate – construction, land development & other land loans
958

 
1,067

Real estate – mortgage – residential (1-4 family) first mortgages
8,581

 
7,552

Real estate – mortgage – home equity loans / lines of credit
1,874

 
1,797

Real estate – mortgage – commercial and other
9,837

 
8,820

Consumer loans
113

 
112

Total
$
25,066

 
24,866


Nonperforming assets are defined as nonaccrual loans, restructured loans, loans past due 90 or more days and still accruing interest, and foreclosed real estate. Nonperforming assets are summarized as follows.
($ in thousands)
March 31,
2020

December 31,
2019
Nonperforming assets
 


 

Nonaccrual loans
$
25,066


24,866

Restructured loans - accruing
9,747


9,053

Accruing loans > 90 days past due
—


—

Total nonperforming loans
34,813


33,919

Foreclosed real estate
3,487


3,873

Total nonperforming assets
$
38,300


37,792







Purchased credit impaired loans not included above (1)
$
9,839


12,664







(1) In the March 3, 2017 acquisition of Carolina Bank, and the October 1, 2017 acquisition of Asheville Savings Bank, the Company acquired $19.3 million and $9.9 million, respectively, in PCI loans in accordance with ASC 310-30 accounting guidance. These loans are excluded from nonperforming loans, including $0.7 million and $0.8 million in PCI loans at March 31, 2020 and December 31, 2019, respectively, that were contractually past due 90 days or more.
Schedule of Analysis of Payment Status
The following table presents an analysis of the payment status of the Company’s loans as of March 31, 2020. Due to the onset of the COVID-19 pandemic not occurring until late in the first quarter of 2020, as well as the Company's COVID-19 deferral program, the past due amounts below were not impacted by the pandemic.
($ in thousands)
Accruing
30-59
Days Past
Due
 
Accruing
60-89
Days
Past
Due
 
Accruing
90 Days
or More
Past
Due
 
Nonaccrual
Loans
 
Accruing
Current
 
Total Loans
Receivable
Commercial, financial, and agricultural
$
2,387

 
201

 
—

 
3,703

 
514,992

 
521,283

Real estate – construction, land development & other land loans
1,333

 
42

 
—

 
958

 
587,989

 
590,322

Real estate – mortgage – residential (1-4 family) first mortgages
10,829

 
30

 
—

 
8,581

 
1,058,281

 
1,077,721

Real estate – mortgage – home equity loans / lines of credit
1,532

 
155

 
—

 
1,874

 
327,516

 
331,077

Real estate – mortgage – commercial and other
4,850

 
7,164

 
—

 
9,837

 
1,944,844

 
1,966,695

Consumer loans
129

 
67

 
—

 
113

 
53,750

 
54,059

Purchased credit impaired
625

 
15

 
746

 
—

 
8,453

 
9,839

Total
$
21,685

 
7,674

 
746

 
25,066

 
4,495,825

 
4,550,996

Unamortized net deferred loan costs
 
 
 
 
 
 
 
 
 
 
1,712

Total loans
 
 
 
 
 
 
 
 
 
 
$
4,552,708

The following table presents an analysis of the payment status of the Company’s loans as of December 31, 2019.
($ in thousands)
Accruing
30-59
Days
Past
Due
 
Accruing
60-89
Days
Past
Due
 
Accruing
90 Days
or More
Past
Due
 
Nonaccrual
Loans
 
Accruing
Current
 
Total Loans
Receivable
Commercial, financial, and agricultural
$
752

 
—

 
—

 
5,518

 
497,788

 
504,058

Real estate – construction, land development & other land loans
37

 
152

 
—

 
1,067

 
529,444

 
530,700

Real estate – mortgage – residential (1-4 family) first mortgages
10,858

 
5,056

 
—

 
7,552

 
1,076,205

 
1,099,671

Real estate – mortgage – home equity loans / lines of credit
770

 
300

 
—

 
1,797

 
334,832

 
337,699

Real estate – mortgage – commercial and other
4,257

 
—

 
—

 
8,820

 
1,897,573

 
1,910,650

Consumer loans
344

 
137

 
—

 
112

 
55,490

 
56,083

Purchased credit impaired
218

 
38

 
762

 
—

 
11,646

 
12,664

Total
$
17,236

 
5,683

 
762

 
24,866

 
4,402,978

 
4,451,525

Unamortized net deferred loan costs
 
 
 
 
 
 
 
 
 
 
1,941

Total loans
 
 
 
 
 
 
 
 
 
 
$
4,453,466
Schedule of Allowance for Loan Losses
The following table presents the activity in the allowance for loan losses for all loans for the three months ended March 31, 2020.
($ in thousands)
Commercial,
Financial,
and
Agricultural
 
Real Estate
–
Construction,
Land
Development
& Other Land
Loans
 
Real Estate
–
Residential
(1-4 Family)
First
Mortgages
 
Real Estate
– Mortgage
– Home
Equity
Lines of
Credit
 
Real Estate
– Mortgage
–
Commercial
and Other
 
Consumer Loans
 
Unallocated
 
Total
As of and for the three months ended March 31, 2020
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
4,553

 
1,976

 
3,832

 
1,127

 
8,938

 
972

 
—

 
21,398

Charge-offs
(2,460
)
 
(40
)
 
(195
)
 
(68
)
 
(263
)
 
(287
)
 
—

 
(3,313
)
Recoveries
217

 
290

 
91

 
83

 
47

 
95

 
—

 
823

Provisions
1,894

 
373

 
645

 
252

 
2,191

 
235

 
—

 
5,590

Ending balance
$
4,204

 
2,599

 
4,373

 
1,394

 
10,913

 
1,015

 
—

 
24,498

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance as of March 31, 2020: Allowance for loan losses
Individually evaluated for impairment
$
1,093

 
73

 
739

 
90

 
1,233

 
—

 
—

 
3,228

Collectively evaluated for impairment
$
3,069

 
2,526

 
3,528

 
1,304

 
9,680

 
1,006

 
—

 
21,113

Purchased credit impaired
$
42

 
—

 
106

 
—

 
—

 
9

 
—

 
157

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans receivable as of March 31, 2020
Ending balance – total
$
521,470

 
590,485

 
1,083,022

 
331,170

 
1,970,716

 
54,133

 
—

 
4,550,996

Unamortized net deferred loan costs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,712

Total loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
4,552,708

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balances as of March 31, 2020: Loans
Individually evaluated for impairment
$
3,050

 
756

 
9,915

 
433

 
11,862

 
—

 
—

 
26,016

Collectively evaluated for impairment
$
518,233

 
589,566

 
1,067,805

 
330,644

 
1,954,834

 
54,059

 
—

 
4,515,141

Purchased credit impaired
$
187

 
163

 
5,302

 
93

 
4,020

 
74

 
—

 
9,839

The following table presents the activity in the allowance for loan losses for the year ended December 31, 2019.
($ in thousands)
Commercial,
Financial,
and
Agricultural
 
Real Estate
–
Construction,
Land
Development
& Other Land
Loans
 
Real Estate
–
Residential
(1-4 Family)
First
Mortgages
 
Real Estate
– Mortgage
– Home
Equity
Lines of
Credit
 
Real Estate
– Mortgage
–
Commercial
and Other
 
Consumer Loans
 
Unallocated
 
Total
As of and for the year ended December 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
2,889

 
2,243

 
5,197

 
1,665

 
7,983

 
952

 
110

 
21,039

Charge-offs
(2,473
)
 
(553
)
 
(657
)
 
(307
)
 
(1,556
)
 
(757
)
 
—

 
(6,303
)
Recoveries
980

 
1,275

 
705

 
629

 
575

 
235

 
—

 
4,399

Provisions
3,157

 
(989
)
 
(1,413
)
 
(860
)
 
1,936

 
542

 
(110
)
 
2,263

Ending balance
$
4,553

 
1,976

 
3,832

 
1,127

 
8,938

 
972

 
—

 
21,398

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balances as of December 31, 2019: Allowance for loan losses
Individually evaluated for impairment
$
1,791

 
50

 
750

 
—

 
983

 
—

 
—

 
3,574

Collectively evaluated for impairment
$
2,720

 
1,926

 
2,976

 
1,127

 
7,931

 
961

 
—

 
17,641

Purchased credit impaired
$
42

 
—

 
106

 
—

 
24

 
11

 
—

 
183

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans receivable as of December 31, 2019:
Ending balance – total
$
504,271

 
530,866

 
1,105,014

 
337,922

 
1,917,280

 
56,172

 
—

 
4,451,525

Unamortized net deferred loan costs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,941

Total loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
4,453,466

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balances as of December 31, 2019: Loans
Individually evaluated for impairment
$
4,957

 
796

 
9,546

 
333

 
9,570

 
—

 
—

 
25,202

Collectively evaluated for impairment
$
499,101

 
529,904

 
1,090,125

 
337,366

 
1,901,080

 
56,083

 
—

 
4,413,659

Purchased credit impaired
$
213

 
166

 
5,343

 
223

 
6,630

 
89

 
—

 
12,664

The following table presents the activity in the allowance for loan losses for all loans for the three months ended March 31, 2019.
($ in thousands)
Commercial,
Financial,
and
Agricultural
 
Real Estate
–
Construction,
Land
Development,
& Other
Land Loans
 
Real Estate
–
Residential
(1-4 Family)
First
Mortgages
 
Real Estate
– Mortgage
– Home
Equity
Lines of
Credit
 
Real Estate
– Mortgage
–
Commercial
and Other
 
Consumer Loans
 
Unallocated
 
Total
As of and for the three months ended March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
2,889

 
2,243

 
5,197

 
1,665

 
7,983

 
952

 
110

 
21,039

Charge-offs
(246
)
 
(264
)
 
(30
)
 
(80
)
 
(836
)
 
(281
)
 
—

 
(1,737
)
Recoveries
414

 
287

 
160

 
128

 
271

 
33

 
—

 
1,293

Provisions
652

 
18

 
(817
)
 
(339
)
 
702

 
302

 
(18
)
 
500

Ending balance
$
3,709

 
2,284

 
4,510

 
1,374

 
8,120

 
1,006

 
92

 
21,095

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balances as of March 31, 2019: Allowance for loan losses
Individually evaluated for impairment
$
857

 
28

 
858

 
—

 
312

 
—

 
—

 
2,055

Collectively evaluated for impairment
$
2,852

 
2,256

 
3,596

 
1,362

 
7,723

 
990

 
92

 
18,871

Purchased credit impaired
$
—

 
—

 
56

 
12

 
85

 
16

 
—

 
169

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans receivable as of March 31, 2019
Ending balance – total
$
468,388

 
553,760

 
1,061,049

 
354,669

 
1,794,794

 
69,503

 
—

 
4,302,163

Unamortized net deferred loan fees
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,624

Total loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4,303,787

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balances as of March 31, 2019: Loans
Individually evaluated for impairment
$
1,044

 
797

 
10,891

 
21

 
8,396

 
—

 
—

 
21,149

Collectively evaluated for impairment
$
467,139

 
552,788

 
1,044,104

 
354,316

 
1,777,481

 
69,319

 
—

 
4,265,147

Purchased credit impaired
$
205

 
175

 
6,054

 
332

 
8,917

 
184

 
—

 
15,867
Schedule of Loans Individually Evaluated for Impairment
The following table presents loans individually evaluated for impairment by class of loans, excluding PCI loans, as of March 31, 2020.
($ in thousands)
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
Impaired loans with no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, and agricultural
$
19

 
51

 
—

 
18

Real estate – mortgage – construction, land development & other land loans
116

 
168

 
—

 
169

Real estate – mortgage – residential (1-4 family) first mortgages
4,901

 
5,160

 
—

 
4,601

Real estate – mortgage –home equity loans / lines of credit
330

 
358

 
—

 
332

Real estate – mortgage –commercial and other
5,471

 
7,035

 
—

 
4,057

Consumer loans
—

 
—

 
—

 
—

Total impaired loans with no allowance
$
10,837

 
12,772

 
—

 
9,177

 
 
 
 
 
 
 
 
Impaired loans with an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, and agricultural
$
3,031

 
3,063

 
1,093

 
3,986

Real estate – mortgage – construction, land development & other land loans
640

 
649

 
73

 
608

Real estate – mortgage – residential (1-4 family) first mortgages
5,014

 
5,244

 
739

 
5,130

Real estate – mortgage –home equity loans / lines of credit
103

 
103

 
90

 
52

Real estate – mortgage –commercial and other
6,391

 
6,821

 
1,233

 
6,659

Consumer loans
—

 
—

 
—

 
—

Total impaired loans with allowance
$
15,179

 
15,880

 
3,228

 
16,435

Interest income recorded on impaired loans during the three months ended March 31, 2020 was insignificant, and reflects interest income recorded on nonaccrual loans prior to them being placed on nonaccrual status and interest income recorded on accruing restructured loans.
The following table presents loans individually evaluated for impairment by class of loans, excluding PCI loans, as of December 31, 2019.
($ in thousands)
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
Impaired loans with no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, and agricultural
$
16

 
19

 
—

 
74

Real estate – mortgage – construction, land development & other land loans
221

 
263

 
—

 
366

Real estate – mortgage – residential (1-4 family) first mortgages
4,300

 
4,539

 
—

 
4,415

Real estate – mortgage –home equity loans / lines of credit
333

 
357

 
—

 
147

Real estate – mortgage –commercial and other
2,643

 
3,328

 
—

 
3,240

Consumer loans
—

 
—

 
—

 
—

Total impaired loans with no allowance
$
7,513

 
8,506

 
—

 
8,242

 
 
 
 
 
 
 
 
Impaired loans with an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, and agricultural
$
4,941

 
4,995

 
1,791

 
1,681

Real estate – mortgage – construction, land development & other land loans
575

 
575

 
50

 
586

Real estate – mortgage – residential (1-4 family) first mortgages
5,246

 
5,469

 
750

 
6,206

Real estate – mortgage –home equity loans / lines of credit
—

 
—

 
—

 
55

Real estate – mortgage –commercial and other
6,927

 
7,914

 
983

 
5,136

Consumer loans
—

 
—

 
—

 
—

Total impaired loans with allowance
$
17,689

 
18,953

 
3,574

 
13,664
Schedule of Recorded Investment in Loans by Credit Quality Indicators
The following describes the Company’s internal risk grades in ascending order of likelihood of loss:
 
Risk Grade
Description
Pass:
 
 
 
1
Loans with virtually no risk, including cash secured loans.
 
2
Loans with documented significant overall financial strength.  These loans have minimum chance of loss due to the presence of multiple sources of repayment – each clearly sufficient to satisfy the obligation.
 
3
Loans with documented satisfactory overall financial strength.  These loans have a low loss potential due to presence of at least two clearly identified sources of repayment – each of which is sufficient to satisfy the obligation under the present circumstances.
 
4
Loans to borrowers with acceptable financial condition.  These loans could have signs of minor operational weaknesses, lack of adequate financial information, or loans supported by collateral with questionable value or marketability.  
 
5
Loans that represent above average risk due to minor weaknesses and warrant closer scrutiny by management.  Collateral is generally required and felt to provide reasonable coverage with realizable liquidation values in normal circumstances.  Repayment performance is satisfactory.
 
P
(Pass)
Consumer loans (<$500,000) that are of satisfactory credit quality with borrowers who exhibit good personal credit history, average personal financial strength and moderate debt levels.  These loans generally conform to Bank policy, but may include approved mitigated exceptions to the guidelines.  
Special Mention:
 
 
 
6
Existing loans with defined weaknesses in primary source of repayment that, if not corrected, could cause a loss to the Bank.
Classified:
 
 
 
7
An existing loan inadequately protected by the current sound net worth and paying capacity of the obligor or the collateral pledged, if any.  These loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt.
 
8
Loans that have a well-defined weakness that make the collection or liquidation in full highly questionable and improbable.  Loss appears imminent, but the exact amount and timing is uncertain.
 
9
Loans that are considered uncollectible and are in the process of being charged-off.  This grade is a temporary grade assigned for administrative purposes until the charge-off is completed.
 
F
(Fail)
Consumer loans (<$500,000) with a well-defined weakness, such as exceptions of any kind with no mitigating factors, history of paying outside the terms of the note, insufficient income to support the current level of debt, etc.
The following table presents the Company’s recorded investment in loans by credit quality indicators as of March 31, 2020. Due to the onset of the COVID-19 pandemic not occurring until late in the first quarter of 2020, the special mention and classified loans levels shown below were not impacted by the pandemic.
($ in thousands)
Pass
 
Special
Mention Loans
 
Classified
Accruing Loans
 
Classified
Nonaccrual
Loans
 
Total
Commercial, financial, and agricultural
$
504,858

 
7,736

 
4,986

 
3,703

 
521,283

Real estate – construction, land development & other land loans
583,176

 
4,743

 
1,445

 
958

 
590,322

Real estate – mortgage – residential (1-4 family) first mortgages
1,046,994

 
8,427

 
13,719

 
8,581

 
1,077,721

Real estate – mortgage – home equity loans / lines of credit
322,000

 
1,217

 
5,986

 
1,874

 
331,077

Real estate – mortgage – commercial and other
1,920,923

 
28,557

 
7,378

 
9,837

 
1,966,695

Consumer loans
53,532

 
207

 
207

 
113

 
54,059

Purchased credit impaired
8,022

 
87

 
1,730

 
—

 
9,839

Total
$
4,439,505

 
50,974

 
35,451

 
25,066

 
4,550,996

Unamortized net deferred loan costs
 
 
 
 
 
 
 
 
1,712

Total loans
 
 
 
 
 
 
 
 
4,552,708

The following table presents the Company’s recorded investment in loans by credit quality indicators as of December 31, 2019.
($ in thousands)
Pass
 
Special
Mention Loans
 
Classified
Accruing Loans
 
Classified
Nonaccrual
Loans
 
Total
Commercial, financial, and agricultural
$
486,081

 
7,998

 
4,461

 
5,518

 
504,058

Real estate – construction, land development & other land loans
522,767

 
4,075

 
2,791

 
1,067

 
530,700

Real estate – mortgage – residential (1-4 family) first mortgages
1,063,735

 
13,187

 
15,197

 
7,552

 
1,099,671

Real estate – mortgage – home equity loans / lines of credit
328,903

 
1,258

 
5,741

 
1,797

 
337,699

Real estate – mortgage – commercial and other
1,873,594

 
20,800

 
7,436

 
8,820

 
1,910,650

Consumer loans
55,203

 
413

 
355

 
112

 
56,083

Purchased credit impaired
8,098

 
2,590

 
1,976

 
—

 
12,664

Total
$
4,338,381

 
50,321

 
37,957

 
24,866

 
4,451,525

Unamortized net deferred loan costs
 
 
 
 
 
 
 
 
1,941

Total loans
 
 
 
 
 
 
 
 
4,453,466
Schedule of Information Related to Loans Modified in a Troubled Debt Restructuring
The following table presents information related to loans modified in a troubled debt restructuring during the three months ended March 31, 2020 and 2019.
($ in thousands)
For the three months ended
March 31, 2020
 
For the three months ended
March 31, 2019
 
Number of
Contracts
 
Pre-
Modification
Restructured
Balances
 
Post-
Modification
Restructured
Balances
 
Number of
Contracts
 
Pre-
Modification
Restructured
Balances
 
Post-
Modification
Restructured
Balances
TDRs – Accruing
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, and agricultural
2

 
$
143

 
$
143

 
—

 
$
—

 
$
—

Real estate – construction, land development & other land loans
—

 
—

 
—

 
—

 
—

 
—

Real estate – mortgage – residential (1-4 family) first mortgages
—

 
—

 
—

 
2

 
254

 
258

Real estate – mortgage – home equity loans / lines of credit
—

 
—

 
—

 
—

 
—

 
—

Real estate – mortgage – commercial and other
—

 
—

 
—

 
—

 
—

 
—

Consumer loans
—

 
—

 
—

 
—

 
—

 
—

TDRs – Nonaccrual
 
 
 
 
 
 
 
 


 
 
Commercial, financial, and agricultural
—

 
—

 
—

 
—

 
—

 
—

Real estate – construction, land development & other land loans
—

 
—

 
—

 
—

 
—

 
—

Real estate – mortgage – residential (1-4 family) first mortgages
—

 
—

 
—

 
—

 
—

 
—

Real estate – mortgage – home equity loans / lines of credit
—

 
—

 
—

 
—

 
—

 
—

Real estate – mortgage – commercial and other
—

 
—

 
—

 
—

 
—

 
—

Consumer loans
—

 
—

 
—

 
—

 
—

 
—

Total TDRs arising during period
2

 
$
143

 
$
143

 
2

 
$
254

 
$
258



Accruing restructured loans that were modified in the previous 12 months and that defaulted during the three months ended March 31, 2020 and 2019 are presented in the table below. The Company considers a loan to have defaulted when it becomes 90 or more days delinquent under the modified terms, has been transferred to nonaccrual status, or has been transferred to foreclosed real estate.
($ in thousands)
For the Three Months Ended March 31, 2020
 
For the Three Months Ended March 31, 2019
 
Number of
Contracts
 
Recorded
Investment
 
Number of
Contracts
 
Recorded
Investment
Accruing TDRs that subsequently defaulted
 
 
 
 
 
 
 
Real estate – mortgage – residential (1-4 family first mortgages)
—

 
$
—

 
1

 
$
93

Real estate – mortgage – commercial and other
—

 
—

 
—

 
—

Total accruing TDRs that subsequently defaulted
—

 
$
—

 
1

 
$
93