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Loans and Asset Quality Information (Tables)
 12 Months Ended
Dec. 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)December 31, 2020December 31, 2019
 AmountPercentageAmountPercentage
All  loans:    
Commercial, financial, and agricultural
$782,549 17 %$504,271 11 %
Real estate – construction, land development & other land loans
570,672 12 %530,866 12 %
Real estate – mortgage – residential (1-4 family) first mortgages
972,378 21 %1,105,014 25 %
Real estate – mortgage – home equity loans / lines of credit
306,256 6 %337,922 8 %
Real estate – mortgage – commercial and other
2,049,203 43 %1,917,280 43 %
Consumer loans53,955 1 %56,172 1 %
Subtotal
4,735,013 100 %4,451,525 100 %
Unamortized net deferred loan costs (fees)
(3,698)1,941 
Total loans
$4,731,315 $4,453,466 
($ in thousands)December 31,
2020		December 31,
2019
Guaranteed portions of non-PPP SBA Loans included in table above$33,959 54,400 
Unguaranteed portions of SBA Loans included in table above135,703 110,782 
Total non-PPP SBA loans included in the table above$169,662 165,182 
Sold portions of SBA loans with servicing retained - not included in table above$395,398 316,730 
Schedule of Activity in Purchased Credit Impaired Loans
The following table presents changes in the carrying value of PCI loans.
($ in thousands)
Purchased Credit Impaired Loans
For the Year Ended December 31,
2020		For the Year Ended December 31,
2019		For the Year Ended December 31,
2018
Balance at beginning of period$12,664 17,393 23,165 
Change due to payments received and accretion(4,087)(4,863)(5,799)
Change due to loan charge-offs(13)(11)(4)
Transfers to foreclosed real estate— — (10)
Other27 145 41 
Balance at end of period$8,591 12,664 17,393 
The following table presents changes in the accretable yield for PCI loans.
($ in thousands)
Accretable Yield for PCI loans
For the Year Ended December 31,
2020		For the Year Ended December 31,
2019		For the Year Ended December 31,
2018
Balance at beginning of period
$4,149 4,750 4,688 
Accretion
(1,119)(1,486)(2,050)
Reclassification from (to) nonaccretable difference
413 617 849 
Other, net
(545)268 1,263 
Balance at end of period
$2,898 4,149 4,750 
Schedule of Nonperforming Assets and Nonaccrual Loans
Nonperforming assets are defined as nonaccrual loans, troubled debt restructurings, loans past due 90 or more days and still accruing interest, and foreclosed real estate. Nonperforming assets are summarized as follows:
ASSET QUALITY DATA ($ in thousands)
December 31,
2020		December 31,
2019
Nonperforming assets  
Nonaccrual loans$35,076 24,866 
Restructured loans - accruing9,497 9,053 
Accruing loans > 90 days past due— — 
Total nonperforming loans44,573 33,919 
Foreclosed properties2,424 3,873 
Total nonperforming assets$46,997 37,792 
Purchased credit impaired loans not included above (1)$8,591 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 $0.8 million in PCI loans at December 31, 2020 and 2019, respectively, that are contractually past due 90 days or more.
The following is a summary the Company’s nonaccrual loans by major categories.
($ in thousands)December 31,
2020		December 31,
2019
Commercial, financial, and agricultural
$9,681 5,518 
Real estate – construction, land development & other land loans
643 1,067 
Real estate – mortgage – residential (1-4 family) first mortgages
6,048 7,552 
Real estate – mortgage – home equity loans / lines of credit
1,333 1,797 
Real estate – mortgage – commercial and other
17,191 8,820 
Consumer loans180 112 
Total$35,076 24,866 
Schedule of Analysis of Payment Status
The following table presents an analysis of the payment status of the Company’s loans as of December 31, 2020.
($ 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
$1,464 1,101 — 9,681 770,166 782,412 
Real estate – construction, land development & other land loans
572 — — 643 569,307 570,522 
Real estate – mortgage – residential (1-4 family) first mortgages
10,146 869 — 6,048 951,088 968,151 
Real estate – mortgage – home equity loans / lines of credit
1,088 42 — 1,333 303,693 306,156 
Real estate – mortgage – commercial and other
2,540 3,111 — 17,191 2,022,422 2,045,264 
Consumer loans180 36 — 180 53,521 53,917 
Purchased credit impaired
328 112 719 — 7,432 8,591 
Total$16,318 5,271 719 35,076 4,677,629 4,735,013 
Unamortized net deferred loan (fees) costs(3,698)
Total loans$4,731,315 
The following table presents an analysis of the payment status of the Company’s loans as of December 31, 2019.
($ 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 loans344 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 (fees) costs1,941 
Total loans$4,453,466 
Schedule of Allowance for Loan Losses
The following table presents the activity in the allowance for loan losses for the year ended December 31, 2020.
($ 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 loansUnallocatedTotal
As of and for the year ended December 31, 2020
Beginning balance
$4,553 1,976 3,832 1,127 8,938 972 — 21,398 
Charge-offs
(5,608)(51)(478)(524)(968)(873)— (8,502)
Recoveries
745 1,552 754 487 621 294 — 4,453 
Provisions
11,626 1,878 3,940 1,285 15,012 1,085 213 35,039 
Ending balance
$11,316 5,355 8,048 2,375 23,603 1,478 213 52,388 
Ending balances as of December 31, 2020: Allowance for loan losses
Individually evaluated for impairment
$3,546 30 800 — 2,175 — — 6,551 
Collectively evaluated for impairment
$7,742 5,325 7,141 2,375 21,428 1,475 213 45,699 
Purchased credit impaired
$28 — 107 — — 3 — 138 
Loans receivable as of December 31, 2020:
Ending balance – total
$782,549 570,672 972,378 306,256 2,049,203 53,955 — 4,735,013 
Unamortized net deferred loan (fees) costs(3,698)
Total loans
$4,731,315 
Ending balances as of December 31, 2020: Loans
Individually evaluated for impairment
$7,700 677 9,303 15 18,582 4 — 36,281 
Collectively evaluated for impairment
$774,712 569,845 958,848 306,141 2,026,682 53,913 — 4,690,141 
Purchased credit impaired
$137 150 4,227 100 3,939 38 — 8,591 
The following table presents the activity in the allowance for loan losses for the year ended December 31, 2019.
($ 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 loansUnallocatedTotal
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 (fees) costs1,941 
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
$213 166 5,343 223 6,630 89 — 12,664 
The following table presents the activity in the allowance for loan losses for the year ended December 31, 2018.
($ 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 loansUnallo-
cated		Total
As of and for the year ended December 31, 2018
Beginning balance
$3,111 2,816 6,147 1,827 6,475 950 1,972 23,298 
Charge-offs
(2,128)(158)(1,734)(711)(1,459)(781)— (6,971)
Recoveries
1,195 4,097 833 364 1,503 309 — 8,301 
Provisions
711 (4,512)(49)185 1,464 474 (1,862)(3,589)
Ending balance
$2,889 2,243 5,197 1,665 7,983 952 110 21,039 
Ending balances as of December 31, 2018: Allowance for loan losses
Individually evaluated for impairment
$226 134 955 48 906 — — 2,269 
Collectively evaluated for impairment
$2,661 2,109 4,143 1,608 7,070 941 110 18,642 
Purchased credit impaired
$2 — 99 9 7 11 — 128 
Loans receivable as of December 31, 2018:
Ending balance – total
$457,037 518,976 1,054,176 359,162 1,787,022 71,392 — 4,247,765 
Unamortized net deferred loan (fees) costs1,299 
Total loans
4,249,064 
Ending balances as of December 31, 2018: Loans
Individually evaluated for impairment
$696 1,345 12,391 296 9,525 — — 24,253 
Collectively evaluated for impairment
$456,111 517,453 1,035,532 358,522 1,767,361 71,140 — 4,206,119 
Purchased credit impaired
$230 178 6,253 344 10,136 252 — 17,393 
Schedule of Loans Individually Evaluated for Impairment
The following table presents loans individually evaluated for impairment by class of loans, excluding purchased credit impaired loans, as of December 31, 2020.
($ in thousands)Recorded
Investment		Unpaid
Principal
Balance		Related
Allowance		Average
Recorded
Investment
Impaired loans with no related allowance recorded:
    
Commercial, financial, and agricultural
$3,688 4,325 — 750 
Real estate – mortgage – construction, land development & other land loans
554 694 — 308 
Real estate – mortgage – residential (1-4 family) first mortgages
4,115 4,456 — 4,447 
Real estate – mortgage –home equity loans / lines of credit
15 27 — 264 
Real estate – mortgage –commercial and other
11,763 13,107 — 9,026 
Consumer loans4 4 — 1 
Total impaired loans with no allowance
$20,139 22,613 — 14,796 
Impaired loans with an allowance recorded:
Commercial, financial, and agricultural
$4,012 4,398 3,546 5,139 
Real estate – mortgage – construction, land development & other land loans
123 131 30 502 
Real estate – mortgage – residential (1-4 family) first mortgages
5,188 5,361 800 5,186 
Real estate – mortgage –home equity loans / lines of credit
— — — 21 
Real estate – mortgage –commercial and other
6,819 7,552 2,175 5,786 
Consumer loans— — — — 
Total impaired loans with allowance
$16,142 17,442 6,551 16,634 
The following table presents loans individually evaluated for impairment by class of loans, excluding purchased credit impaired 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 
The following table presents loans individually evaluated for impairment by class of loans, excluding purchased credit impaired loans, as of December 31, 2018.
 
($ in thousands)		Recorded
Investment		Unpaid
Principal
Balance		Related
Allowance		Average
Recorded
Investment
Impaired loans with no related allowance recorded:
    
Commercial, financial, and agricultural
$310 310 — 957 
Real estate – mortgage – construction, land development & other land loans
485 803 — 2,366 
Real estate – mortgage – residential (1-4 family) first mortgages
4,626 4,948 — 4,804 
Real estate – mortgage –home equity loans / lines of credit
22 31 — 91 
Real estate – mortgage –commercial and other
3,475 4,237 — 3,670 
Consumer loans— — — — 
Total impaired loans with no allowance
$8,918 10,329 — 11,888 
Impaired loans with an allowance recorded:
Commercial, financial, and agricultural
$386 387 226 422 
Real estate – mortgage – construction, land development & other land loans
860 864 134 385 
Real estate – mortgage – residential (1-4 family) first mortgages
7,765 7,904 955 8,963 
Real estate – mortgage –home equity loans / lines of credit
274 275 48 184 
Real estate – mortgage –commercial and other
6,050 6,054 906 5,911 
Consumer loans— — — 2 
Total impaired loans with allowance
$15,335 15,484 2,269 15,867 
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 GradeDescription
Pass:
1Loans with virtually no risk, including cash secured loans.
2Loans 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.
3Loans 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.
4Loans 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.  
5Loans that represent above average risk due to minor weaknesses and warrant closer scrutiny by management.  Collateral is generally available 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: 
6Existing loans with defined weaknesses in primary source of repayment that, if not corrected, could cause a loss to the Bank.
Classified: 
7An 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.
8Loans 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.
9Loans 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 (<$500,000) with a well-defined weakness, such as exceptions of any kind with no mitigating factors, history of paying outside the terms of the note, insufficient income to support the current level of debt, etc.  
The following table presents the Company’s recorded investment in loans by credit quality indicators as of December 31, 2020.
($ in thousands)PassSpecial Mention
Loans		Classified
Accruing Loans		Classified
Nonaccrual
Loans		Total
Commercial, financial, and agricultural
$762,091 9,553 1,087 9,681 782,412 
Real estate – construction, land development & other land loans
560,845 7,877 1,157 643 570,522 
Real estate – mortgage – residential (1-4 family) first mortgages
943,455 7,609 11,039 6,048 968,151 
Real estate – mortgage – home equity loans / lines of credit
297,795 1,468 5,560 1,333 306,156 
Real estate – mortgage – commercial and other
1,988,684 34,588 4,801 17,191 2,045,264 
Consumer loans53,488 80 169 180 53,917 
Purchased credit impaired
6,901 85 1,605 — 8,591 
Total
$4,613,259 61,260 25,418 35,076 4,735,013 
Unamortized net deferred loan (fees) costs(3,698)
Total loans
4,731,315 
The following table presents the Company’s recorded investment in loans by credit quality indicators as of December 31, 2019.
($ in thousands)PassSpecial 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 loans55,203 413 355 112 56,083 
Purchased credit impaired
8,098 2,590 1,976 — 12,664 
Total
$4,338,381 50,321 37,957 24,866 4,451,525 
Unamortized net deferred loan (fees) costs1,941 
Total loans
4,453,466 
Schedule of Information Related to Loans Modified in a Troubled Debt Restructuring
The following table presents information related to loans modified in a TDR during the year ended December 31, 2020.
($ in thousands)For the year ended December 31, 2020
 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
1 67 67 
Real estate – mortgage – residential (1-4 family) first mortgages
2 75 78 
Real estate – mortgage – home equity loans / lines of credit
— — — 
Real estate – mortgage – commercial and other
— — — 
Consumer loans1 4 4 
TDRs – Nonaccrual
Commercial, financial, and agricultural
1 72 72 
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
5 5,977 5,977 
Consumer loans— — — 
Total TDRs arising during period
12 $6,338 $6,341 

The following table presents information related to loans modified in a TDR during the year ended December 31, 2019.
($ in thousands)For the year ended December 31, 2019
 Number of
Contracts		Pre-
Modification
Restructured
Balances		Post-
Modification
Restructured
Balances
TDRs – Accruing
   
Commercial, financial, and agricultural
2 $395 $395 
Real estate – construction, land development & other land loans
— — — 
Real estate – mortgage – residential (1-4 family) first mortgages
3 387 391 
Real estate – mortgage – home equity loans / lines of credit
— — — 
Real estate – mortgage – commercial and other
1 274 274 
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
6 $1,056 $1,060 
The following table presents information related to loans modified in a TDR during the year ended December 31, 2018.
($ in thousands)For the year ended December 31, 2018
 Number of
Contracts		Pre-
Modification
Restructured
Balances		Post-
Modification
Restructured
Balances
TDRs – Accruing
   
Commercial, financial, and agricultural
— $— $— 
Real estate – construction, land development & other land loans
— — — 
Real estate – mortgage – residential (1-4 family) first mortgages
2 254 273 
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
1 61 61 
Real estate – mortgage – residential (1-4 family) first mortgages
3 340 350 
Real estate – mortgage – home equity loans / lines of credit
— — — 
Real estate – mortgage – commercial and other
— — — 
Consumer loans— — — 
Total TDRs arising during period
6 $655 $684 
Accruing TDRs that were modified in the previous 12 months and that defaulted during the years ended December 31, 2020, 2019, and 2018 are presented in the table below. The Company considers a loan to have defaulted when it becomes 90 or more days delinquent under the modified terms, has been transferred to nonaccrual status, or has been transferred to foreclosed real estate.
($ in thousands)For the Year Ended December 31, 2020For the Year Ended December 31, 2019For the Year Ended December 31, 2018
 Number of
Contracts		Recorded
Investment		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 1 $60 
Real estate – mortgage – commercial and other
1 274 — — 3 1,333 
Total accruing TDRs that subsequently defaulted
1 $274 1 $93 4 $1,393