Loans (Tables)

9 Months Ended

Sep. 30, 2020

Summary of Loans Held for Investment

Loans held for investment outstanding at September 30, 2020 and December 31, 2019 are summarized as follows:

	September 30, 2020			December 31, 2019
(in thousands)
Commercial and industrial	$	444,718		$	77,728
Real estate – construction, commercial		49,884			38,039
Real estate – construction, residential		19,001			26,778
Real estate – mortgage, commercial		272,778			251,824
Real estate – mortgage, residential		210,679			208,494
Real estate – mortgage, farmland		4,176			5,507
Consumer installment loans		45,144			39,202
Gross loans		1,046,380			647,572
Less: Unearned income		(7,200	)		(738	)
Total	$	1,039,180		$	646,834

Summary of Acquired Loans Included in Consolidated Statement of Condition

.  The outstanding principal balance and related carrying amount of these acquired loans included in the consolidated statement of condition as of September 30, 2020 and December 31, 2019 is as follows:

	September 30, 2020		December 31, 2019
(in thousands)
Purchased credit impaired acquired VCB loans evaluated individually for future credit losses
Outstanding principal balance	$	1,336	$	1,504
Carrying amount		1,148		1,315
Other acquired VCB loans
Outstanding principal balance		108,996		172,279
Carrying amount		107,853		170,151
Total acquired VCB loans
Outstanding principal balance		110,332		173,783
Carrying amount		109,001		171,466

Summary of Financing Receivable, Past Due

The following table presents the aging of the recorded investment in past due loans as of September 30, 2020 and December 31, 2019:

	September 30, 2020
(in thousands)	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due & Accruing		Nonaccrual		Total Past Due & Nonaccrual		Current Loans			Total Loans
Commercial and industrial	$	901	$	86	$	47	$	401	$	1,435	$	443,283		$	444,718
Real estate – construction, commercial		—		218		—		900		1,118		48,766			49,884
Real estate – construction, residential		—		369		—		—		369		18,632			19,001
Real estate – mortgage, commercial		440		2,470		—		1,352		4,262		268,516			272,778
Real estate – mortgage, residential		235		219		703		438		1,595		209,084			210,679
Real estate - mortgage, farmland		—		—		—		—		—		4,176			4,176
Consumer installment loans		1,121		232		16		641		2,010		43,134			45,144
Less: Unearned income		—		—		—		—		—		(7,200	)		(7,200	)
	$	2,697	$	3,594	$	766	$	3,732	$	10,789	$	1,028,391		$	1,039,180

Note 4 – Loans, continued

	December 31, 2019
(in thousands)	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due & Accruing		Nonaccrual		Total Past Due & Nonaccrual		Current Loans			Total Loans
Commercial and industrial	$	1,652	$	—	$	—	$	441	$	2,093	$	75,635		$	77,728
Real estate – construction, commercial		820		—		—		929		1,749		36,290			38,039
Real estate – construction, residential		241		—		—		—		241		26,537			26,778
Real estate – mortgage, commercial		3,194		—		—		1,931		5,125		246,699			251,824
Real estate – mortgage, residential		319		217		369		713		1,618		206,876			208,494
Real estate – mortgage, farmland		—		—		—		—		—		5,507			5,507
Consumer installment loans		894		408		—		776		2,078		37,124			39,202
Less: Unearned income		—		—		—		—		—		(738	)		(738	)
	$	7,120	$	625	$	369	$	4,790	$	12,904	$	633,930		$	646,834

Virginia Community Bankshares, Inc [Member]

Summary of Changes in Accretable Yield on Purchased Credit Impaired Loans

The following table presents changes for the nine months and year ended September 30, 2020 and December 31, 2019, respectively, in the accretable yield on the VCB purchased credit impaired loans for which the Company applies ASC 310-30:

	September 30, 2020			December 31, 2019
(in thousands)
Balance beginning of period	$	188		$	—
Accretable yield at acquisition date		—			190
Additions		(22	)		—
Accretion		(51	)		(3	)
Other changes, net		73			1
Balance end of period		188			188