XML 53 R38.htm IDEA: XBRL DOCUMENT v3.10.0.1
Loans (Tables)
 12 Months Ended
Dec. 31, 2018
Loans [Abstract]  
Schedule of Loans Receivable

Loans consist of the following:







 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2018

 

December 31, 2017

(dollars in thousands)

 

PCI

 

All other loans**

 

Total

 

% of Gross Loans

 

Total

 

% of Gross Loans



 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

$            1,785 

 

$             876,231 

 

$             878,016 

 

 65.18% 

 

$             727,314 

 

 63.25% 

Residential first mortgages

 

 466 

 

 156,243 

 

 156,709 

 

 11.63% 

 

 170,374 

 

 14.81% 

Residential rentals

 

 897 

 

 123,401 

 

 124,298 

 

 9.23% 

 

 110,228 

 

 9.58% 

Construction and land development

 

 -

 

 29,705 

 

 29,705 

 

 2.21% 

 

 27,871 

 

 2.42% 

Home equity and second mortgages

 

 72 

 

 35,489 

 

 35,561 

 

 2.64% 

 

 21,351 

 

 1.86% 

Commercial loans

 

 -

 

 71,680 

 

 71,680 

 

 5.32% 

 

 56,417 

 

 4.91% 

Consumer loans

 

 -

 

 751 

 

 751 

 

 0.06% 

 

 573 

 

 0.05% 

Commercial equipment

 

 -

 

 50,202 

 

 50,202 

 

 3.73% 

 

 35,916 

 

 3.12% 

Gross loans

 

 3,220 

 

 1,343,702 

 

 1,346,922 

 

 100.00% 

 

 1,150,044 

 

 100.00% 

Net deferred costs (fees)

 

 -

 

 1,183 

 

 1,183 

 

 0.09% 

 

 1,086 

 

 0.09% 

Total loans, net of deferred costs

 

$            3,220 

 

$          1,344,885 

 

$          1,348,105 

 

 

 

$          1,151,130 

 

 

Less: allowance for loan losses

 

 -

 

 (10,976)

 

 (10,976)

 

-0.81%

 

 (10,515)

 

-0.91%

Net loans

 

$            3,220 

 

$          1,333,909 

 

$          1,337,129 

 

 

 

$          1,140,615 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

**All other loans include acquired Non-PCI pools.

 

 

 

 

 

 



Non-accrual loans

Non-accrual loans as of December 31, 2018 and 2017 were as follows:







 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2018

(dollars in thousands)

 

Non- accrual Delinquent Loans

 

Number
of Loans

 

Non-accrual Current
Loans

 

Number
of Loans

 

Total
Non-accrual Loans

 

Total Number
of Loans



 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

$                8,474 

 

 11 

 

$                6,158 

 

 6 

 

$               14,632 

 

 17 

Residential first mortgages

 

 146 

 

 1 

 

 1,228 

 

 4 

 

 1,374 

 

 5 

Residential rentals

 

 260 

 

 2 

 

 703 

 

 3 

 

 963 

 

 5 

Construction and land development

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

Home equity and second mortgages

 

 147 

 

 2 

 

 -

 

 -

 

 147 

 

 2 

Commercial loans

 

 866 

 

 2 

 

 -

 

 -

 

 866 

 

 2 

Consumer loans

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

Commercial equipment

 

 1,259 

 

 5 

 

 41 

 

 2 

 

 1,300 

 

 7 



 

$               11,152 

 

 23 

 

$                8,130 

 

 15 

 

$               19,282 

 

 38 



 

 

 

 

 

 

 

 

 

 

 

 









 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2017

(dollars in thousands)

 

Non- accrual Delinquent Loans

 

Number
of Loans

 

Non-accrual Current
Loans

 

Number
of Loans

 

Total
Non-accrual Loans

 

Total Number
of Loans



 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

$                1,148 

 

 4 

 

$                   839 

 

 3 

 

$                1,987 

 

 7 

Residential first mortgages

 

 478 

 

 3 

 

 507 

 

 1 

 

 985 

 

 4 

Residential rentals

 

 84 

 

 1 

 

 741 

 

 3 

 

 825 

 

 4 

Construction and land development

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

Home equity and second mortgages

 

 134 

 

 3 

 

 123 

 

 1 

 

 257 

 

 4 

Commercial loans

 

 172 

 

 2 

 

 -

 

 -

 

 172 

 

 2 

Consumer loans

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

Commercial equipment

 

 467 

 

 3 

 

 -

 

 -

 

 467 

 

 3 



 

$                2,483 

 

 16 

 

$                2,210 

 

 8 

 

$                4,693 

 

 24 



Past Due Financing Receivables

An analysis of past due loans as of December 31, 2018 and 2017 was as follows:







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2018

(dollars in thousands)

 

31-60
Days

 

61-89
Days

 

90 or Greater
Days

 

Total
Past Due

 

PCI Loans

 

Current

 

Total
Loan
Receivables

 

Commercial real estate

 

$                  - 

 

$             677 

 

$          8,474 

 

$          9,151 

 

$          1,785 

 

$       867,080 

 

$           878,016 

 

Residential first mortgages

 

 -

 

 66 

 

 146 

 

 212 

 

 466 

 

 156,031 

 

 156,709 

 

Residential rentals

 

 13 

 

 53 

 

 247 

 

 313 

 

 897 

 

 123,088 

 

 124,298 

 

Construction and land dev.

 

 -

 

 -

 

 -

 

 -

 

 -

 

 29,705 

 

 29,705 

 

Home equity and second mtg.

 

 266 

 

 -

 

 147 

 

 413 

 

 72 

 

 35,076 

 

 35,561 

 

Commercial loans

 

 -

 

 -

 

 866 

 

 866 

 

 -

 

 70,814 

 

 71,680 

 

Consumer loans

 

 1 

 

 4 

 

 -

 

 5 

 

 -

 

 746 

 

 751 

 

Commercial equipment

 

 25 

 

 29 

 

 1,230 

 

 1,284 

 

 -

 

 48,918 

 

 50,202 

 

Total

 

$             305 

 

$             829 

 

$         11,110 

 

$         12,244 

 

$          3,220 

 

$    1,331,458 

 

$        1,346,922 

 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2017

(dollars in thousands)

 

31-60
Days

 

61-89
Days

 

90 or Greater
Days

 

Total
Past Due

 

PCI Loans

 

Current

 

Total
Loan
Receivables

 

Commercial real estate

 

$                  - 

 

$          6,711 

 

$          1,148 

 

$          7,859 

 

$                  - 

 

$       719,455 

 

$           727,314 

 

Residential first mortgages

 

 -

 

 68 

 

 478 

 

 546 

 

 -

 

 169,828 

 

 170,374 

 

Residential rentals

 

 -

 

 207 

 

 84 

 

 291 

 

 -

 

 109,937 

 

 110,228 

 

Construction and land dev.

 

 -

 

 -

 

 -

 

 -

 

 -

 

 27,871 

 

 27,871 

 

Home equity and second mtg.

 

 19 

 

 18 

 

 134 

 

 171 

 

 -

 

 21,180 

 

 21,351 

 

Commercial loans

 

 892 

 

 299 

 

 172 

 

 1,363 

 

 -

 

 55,054 

 

 56,417 

 

Consumer loans

 

 -

 

 1 

 

 -

 

 1 

 

 -

 

 572 

 

 573 

 

Commercial equipment

 

 1,012 

 

 -

 

 467 

 

 1,479 

 

 -

 

 34,437 

 

 35,916 

 

Total

 

$          1,923 

 

$          7,304 

 

$          2,483 

 

$         11,710 

 

$                  - 

 

$    1,138,334 

 

$        1,150,044 

 





Impaired Loans, Including TDRs

Impaired loans, including TDRs, at December 31, 2018 and 2017 were as follows:







 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2018

(dollars in thousands)

 

Unpaid Contractual Principal Balance

 

Recorded Investment With No Allowance

 

Recorded Investment With Allowance

 

Total
Recorded Investment

 

Related Allowance

 

YTD
Average Recorded Investment

 

YTD
Interest Income Recognized



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

$           27,835 

 

$              24,515 

 

$          3,025 

 

$           27,540 

 

$            326 

 

$             27,833 

 

$             1,275 

Residential first mortgages

 

 2,527 

 

 2,527 

 

 -

 

 2,527 

 

 -

 

 2,573 

 

 126 

Residential rentals

 

 1,745 

 

 1,745 

 

 -

 

 1,745 

 

 -

 

 1,792 

 

 85 

Construction and land dev.

 

 729 

 

 729 

 

 -

 

 729 

 

 -

 

 729 

 

 45 

Home equity and second mtg.

 

 294 

 

 288 

 

 -

 

 288 

 

 -

 

 291 

 

 13 

Commercial loans

 

 2,762 

 

 1,888 

 

 863 

 

 2,751 

 

 700 

 

 2,804 

 

 118 

Consumer loans

 

 1 

 

 -

 

 1 

 

 1 

 

 1 

 

 1 

 

 -

Commercial equipment

 

 1,315 

 

 1,121 

 

 178 

 

 1,299 

 

 153 

 

 1,354 

 

 31 

Total

 

$           37,208 

 

$              32,813 

 

$          4,067 

 

$           36,880 

 

$          1,180 

 

$             37,377 

 

$             1,693 



 

 

 

 

 

 

 

 

 

 

 

 

 

 







 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2017

(dollars in thousands)

 

Unpaid Contractual Principal Balance

 

Recorded Investment With No Allowance

 

Recorded Investment With Allowance

 

Total
Recorded Investment

 

Related Allowance

 

YTD Average Recorded Investment

 

YTD Interest Income Recognized



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

$           33,180 

 

$              30,921 

 

$          2,008 

 

$           32,929 

 

$            370 

 

$             33,575 

 

$             1,379 

Residential first mortgages

 

 2,455 

 

 1,978 

 

 459 

 

 2,437 

 

 2 

 

 2,479 

 

 91 

Residential rentals

 

 2,389 

 

 1,981 

 

 395 

 

 2,376 

 

 18 

 

 2,432 

 

 111 

Construction and land dev.

 

 729 

 

 -

 

 729 

 

 729 

 

 163 

 

 729 

 

 26 

Home equity and second mtg.

 

 317 

 

 317 

 

 -

 

 317 

 

 -

 

 318 

 

 12 

Commercial loans

 

 3,010 

 

 2,783 

 

 168 

 

 2,951 

 

 168 

 

 3,048 

 

 137 

Commercial equipment

 

 1,538 

 

 1,048 

 

 467 

 

 1,515 

 

 303 

 

 1,578 

 

 73 

Total

 

$           43,618 

 

$              39,028 

 

$          4,226 

 

$           43,254 

 

$          1,024 

 

$             44,159 

 

$             1,829 



 

 

 

 

 

 

 

 

 

 

 

 

 

 





TDRs, Included in Impaired Loans Schedule



 

 

 

 

 

 

 

 



 

December 31, 2018

 

December 31, 2017

(dollars in thousands)

 

Dollars

 

Number
of Loans

 

Dollars

 

Number
of Loans



 

 

 

 

 

 

 

 

Commercial real estate

 

$                5,612 

 

 7 

 

$                9,273 

 

 9 

Residential first mortgages

 

 66 

 

 1 

 

 527 

 

 2 

Residential rentals

 

 216 

 

 1 

 

 221 

 

 1 

Construction and land development

 

 729 

 

 2 

 

 729 

 

 2 

Commercial loans

 

 53 

 

 1 

 

 4 

 

 1 

Commercial equipment

 

 29 

 

 1 

 

 36 

 

 1 

Total TDRs

 

$                6,705 

 

 13 

 

$               10,790 

 

 16 

Less: TDRs included in non-accrual loans

 

 (29)

 

 (1)

 

 (769)

 

 (1)

Total performing accrual TDR loans

 

$                6,676 

 

 12 

 

$               10,021 

 

 15 



 

 

 

 

 

 

 

 



Allowance for Credit Losses on Financing Receivables

The following tables detail activity in the allowance for loan losses at and for the years ended December 31, 2018, 2017 and 2016, respectively. An allocation of the allowance to one category of loans does not prevent the Company from using that allowance to absorb losses in a different category. 





 

 

 

 

 

 

 

 

 

Year Ended

December 31, 2018

(dollars in thousands)

Beginning Balance

 

Charge-offs

 

Recoveries

 

Provisions

 

Ending
Balance



 

 

 

 

 

 

 

 

 

Commercial real estate

$                6,451 

 

$                  (268)

 

$                     10 

 

$                   689 

 

$                6,882 

Residential first mortgages

 1,144 

 

 (115)

 

 -

 

 (274)

 

 755 

Residential rentals

 512 

 

 (84)

 

 -

 

 70 

 

 498 

Construction and land development

 462 

 

 -

 

 -

 

 (152)

 

 310 

Home equity and second mortgages

 162 

 

 (7)

 

 18 

 

 (40)

 

 133 

Commercial loans

 1,013 

 

 (94)

 

 189 

 

 374 

 

 1,482 

Consumer loans

 7 

 

 (2)

 

 -

 

 1 

 

 6 

Commercial equipment

764 

 

 (647)

 

 56 

 

 737 

 

 910 



$               10,515 

 

$               (1,217)

 

$                   273 

 

$                1,405 

 

$               10,976 



 

 

 

 

 

 

 

 

 

Purchase Credit Impaired**

$                        - 

 

$                        - 

 

$                        - 

 

$                        - 

 

$                        - 



 

 

 

 

 

 

 

 

 

** There is no allowance for loan loss on the PCI portfolios. A more detailed rollforward schedule will be presented if an allowance is required.







 

 

 

 

 

 

 

 

 

Year Ended

December 31, 2017

(dollars in thousands)

Beginning Balance

 

Charge-offs

 

Recoveries

 

Provisions

 

Ending
Balance

Commercial real estate

$                5,212 

 

$                  (217)

 

$                     63 

 

$                1,393 

 

$                6,451 

Residential first mortgages

 1,406 

 

 -

 

 -

 

 (262)

 

 1,144 

Residential rentals

 362 

 

 (42)

 

 -

 

 192 

 

 512 

Construction and land development

 941 

 

 (26)

 

 -

 

 (453)

 

 462 

Home equity and second mortgages

 138 

 

 (14)

 

 1 

 

 37 

 

 162 

Commercial loans

 794 

 

 (13)

 

 1 

 

 231 

 

 1,013 

Consumer loans

 3 

 

 (2)

 

 -

 

 6 

 

 7 

Commercial equipment

1,004 

 

 (168)

 

 62 

 

 (134)

 

 764 



$                9,860 

 

$                  (482)

 

$                   127 

 

$                1,010 

 

$               10,515 









 

 

 

 

 

 

 

 

 

Year Ended

December 31, 2016

(dollars in thousands)

Beginning Balance

 

Charge-offs

 

Recoveries

 

Provisions

 

Ending
Balance

Commercial real estate

$                3,465 

 

$                        - 

 

$                     58 

 

$                1,689 

 

$                5,212 

Residential first mortgages

 584 

 

 -

 

 -

 

 822 

 

 1,406 

Residential rentals

 538 

 

 (14)

 

 -

 

 (162)

 

 362 

Construction and land development

 1,103 

 

 (526)

 

 1 

 

 363 

 

 941 

Home equity and second mortgages

 142 

 

 -

 

 5 

 

 (9)

 

 138 

Commercial loans

 1,477 

 

 (594)

 

 18 

 

 (107)

 

 794 

Consumer loans

 2 

 

 (1)

 

 -

 

 2 

 

 3 

Commercial equipment

1,229 

 

 (34)

 

 48 

 

 (239)

 

 1,004 



$                8,540 

 

$               (1,169)

 

$                   130 

 

$                2,359 

 

$                9,860 



Loan receivable and allowance balances disaggregated on basis of Company's impairment methodology

The following tables detail loan receivable and allowance balances disaggregated on the basis of the Company’s impairment methodology at December 31, 2018 and 2017, respectively.







 

 

 

 

 

 

 

 

 

 

 

 

 

 



December 31, 2018

 

December 31, 2017

 

(dollars in thousands)

Ending balance: individually
evaluated for impairment

 

Ending balance: collectively
evaluated for impairment

 

Purchase Credit Impaired

 

Total

 

Ending balance: individually
evaluated for impairment

 

Ending balance: collectively
evaluated for impairment

 

Total

 

Loan Receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

$             27,540 

 

$           848,691 

 

$              1,785 

 

$         878,016 

 

$             32,929 

 

$           694,385 

 

$         727,314 

 

Residential first mortgages

 2,527 

 

 153,716 

 

 466 

 

 156,709 

 

 2,437 

 

 167,937 

 

 170,374 

 

Residential rentals

 1,745 

 

 121,656 

 

 897 

 

 124,298 

 

 2,376 

 

 107,852 

 

 110,228 

 

Construction and land development

 729 

 

 28,976 

 

 -

 

 29,705 

 

 729 

 

 27,142 

 

 27,871 

 

Home equity and second mortgages

 288 

 

 35,201 

 

 72 

 

 35,561 

 

 317 

 

 21,034 

 

 21,351 

 

Commercial loans

 2,751 

 

 68,929 

 

 -

 

 71,680 

 

 2,951 

 

 53,466 

 

 56,417 

 

Consumer loans

 1 

 

 750 

 

 -

 

 751 

 

 -

 

 573 

 

 573 

 

Commercial equipment

1,299 

 

 48,903 

 

 -

 

 50,202 

 

 1,515 

 

 34,401 

 

 35,916 

 



$             36,880 

 

$        1,306,822 

 

$              3,220 

 

$      1,346,922 

 

$             43,254 

 

$        1,106,790 

 

$      1,150,044 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

$                 326 

 

$              6,556 

 

$                      - 

 

$            6,882 

 

$                 370 

 

$              6,081 

 

$            6,451 

 

Residential first mortgages

 -

 

 755 

 

 -

 

 755 

 

 2 

 

 1,142 

 

 1,144 

 

Residential rentals

 -

 

 498 

 

 -

 

 498 

 

 18 

 

 494 

 

 512 

 

Construction and land development

 -

 

 310 

 

 -

 

 310 

 

 163 

 

 299 

 

 462 

 

Home equity and second mortgages

 -

 

 133 

 

 -

 

 133 

 

 -

 

 162 

 

 162 

 

Commercial loans

 700 

 

 782 

 

 -

 

 1,482 

 

 168 

 

 845 

 

 1,013 

 

Consumer loans

 1 

 

 5 

 

 -

 

 6 

 

 -

 

 7 

 

 7 

 

Commercial equipment

153 

 

 757 

 

 -

 

 910 

 

 303 

 

 461 

 

 764 

 



$              1,180 

 

$              9,796 

 

$                      - 

 

$           10,976 

 

$              1,024 

 

$              9,491 

 

$           10,515 

 





Credit Quality Indicators

Credit quality indicators as of December 31, 2018 and 2017 were as follows:







 

 

 

 

 

 

 

 

 

 

 

 

Credit Risk Profile by Internally Assigned Grade

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Commercial Real Estate

 

Construction and Land Dev.

 

Residential Rentals

(dollars in thousands)

 

12/31/2018

 

12/31/2017

 

12/31/2018

 

12/31/2017

 

12/31/2018

 

12/31/2017



 

 

 

 

 

 

 

 

 

 

 

 

Unrated

 

$           112,280 

 

$             75,581 

 

$                  2,172 

 

$                  1,775 

 

$                37,478 

 

$                28,428 

Pass

 

 741,037 

 

 619,604 

 

 26,805 

 

 25,367 

 

 85,551 

 

 80,279 

Special mention

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

Substandard

 

 24,699 

 

 32,129 

 

 728 

 

 729 

 

 1,269 

 

 1,521 

Doubtful

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

Loss

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

Total

 

$           878,016 

 

$           727,314 

 

$                29,705 

 

$                27,871 

 

$               124,298 

 

$               110,228 



 

 

 

 

 

 

 

 

 

 

 

 



 

Commercial Loans

 

Commercial Equipment

 

Total  Commercial Portfolios

(dollars in thousands)

 

12/31/2018

 

12/31/2017

 

12/31/2018

 

12/31/2017

 

12/31/2018

 

12/31/2017



 

 

 

 

 

 

 

 

 

 

 

 

Unrated

 

$             19,157 

 

$             14,356 

 

$                15,373 

 

$                10,856 

 

$               186,460 

 

$               130,996 

Pass

 

 49,828 

 

 39,118 

 

 33,685 

 

 23,581 

 

 936,906 

 

 787,949 

Special mention

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

Substandard

 

 2,695 

 

 2,943 

 

 1,144 

 

 1,479 

 

 30,535 

 

 38,801 

Doubtful

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

Loss

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

Total

 

$             71,680 

 

$             56,417 

 

$                50,202 

 

$                35,916 

 

$            1,153,901 

 

$               957,746 



 

 

 

 

 

 

 

 

 

 

 

 



 

Non-Commercial Portfolios **

 

Total  All Portfolios

 

 

 

 

(dollars in thousands)

 

12/31/2018

 

12/31/2017

 

12/31/2018

 

12/31/2017

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

Unrated

 

$           146,889 

 

$           152,616 

 

$               333,349 

 

$               283,612 

 

 

 

 

Pass

 

 44,441 

 

 38,081 

 

 981,347 

 

 826,030 

 

 

 

 

Special mention

 

 -

 

 96 

 

 -

 

 96 

 

 

 

 

Substandard

 

 1,691 

 

 1,505 

 

 32,226 

 

 40,306 

 

 

 

 

Doubtful

 

 -

 

 -

 

 -

 

 -

 

 

 

 

Loss

 

 -

 

 -

 

 -

 

 -

 

 

 

 

Total

 

$           193,021 

 

$           192,298 

 

$            1,346,922 

 

$            1,150,044 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

** Non-commercial portfolios are generally evaluated based on payment activity, but may be risk graded if part of a larger commercial relationship or are credit impaired (e.g., non-accrual loans, TDRs).







 

 

 

 

 

 

 

 

 

 

 

 

Credit Risk Profile Based on Payment Activity (Non-Commercial Portfolios)

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Residential First Mortgages

 

 Home Equity and Second Mtg.

 

 Consumer Loans

(dollars in thousands)

 

12/31/2018

 

12/31/2017

 

12/31/2018

 

12/31/2017

 

12/31/2018

 

12/31/2017



 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$           156,563 

 

$           169,896 

 

$                 35,414 

 

$                 21,217 

 

$                     751 

 

$                     573 

Nonperforming

 

 146 

 

 478 

 

 147 

 

 134 

 

 -

 

 -

Total

 

$           156,709 

 

$           170,374 

 

$                 35,561 

 

$                 21,351 

 

$                     751 

 

$                     573 





Accounting for Certain Loans and Debt Securities Acquired In Transfer Table

In conjunction with the acquisition of County First, the PCI loan portfolio was accounted for at fair value as follows:







 

 

 

 

(dollars in thousands)

 

January 1, 2018

 

 



 

 

 

 

Contractual principal and interest at acquisition

 

$                        6,126 

 

 

Nonaccretable difference

 

 (1,093)

 

 

Expected cash flows at acquisition

 

 5,033 

 

 

Accretable yield

 

 (516)

 

 

Basis in PCI loans at acquisition - estimated fair value

 

$                        4,517 

 

 



Certain Loans Acquired In Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Table

A summary of changes in the accretable yield for PCI loans for the year ended December 31, 2018 follows:







 

 

 



 

Year Ended

 

(dollars in thousands)

 

December 31, 2018

 

Accretable yield, beginning of period

 

$                              - 

 

Additions

 

 516 

 

Accretion

 

 (230)

 

Reclassification from (to) nonaccretable difference

 

 134 

 

Other changes, net

 

 313 

 

Accretable yield, end of period

 

$                         734 

 



Summary Of Acquired And Non Acquired Loans Table

The following is a summary of acquired and non-acquired loans as of December 31, 2018 and 2017:







 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

BY ACQUIRED AND NON-ACQUIRED

 

December 31, 2018

 

%

 

December 31, 2017

 

%

 



 

 

 

 

 

 

 

 

 

Acquired loans - performing

 

$                     103,667 

 

 7.70% 

 

$                          - 

 

 0.00% 

 

Acquired loans - purchase credit impaired ("PCI")

 

 3,220 

 

 0.24% 

 

 -

 

 0.00% 

 

Total acquired loans

 

 106,887 

 

 7.94% 

 

 -

 

 0.00% 

 

Non-acquired loans**

 

 1,240,035 

 

 92.06% 

 

 1,150,044 

 

 100.00% 

 

Gross loans

 

 1,346,922 

 

 100.00% 

 

 1,150,044 

 

 100.00% 

 

Net deferred costs (fees)

 

 1,183 

 

 0.09% 

 

 1,086 

 

 0.09% 

 

Total loans, net of deferred costs

 

$                  1,348,105 

 

 

 

$            1,151,130 

 

 

 

** Non-acquired loans include loans transferred from acquired pools following release of acquisition accounting FMV adjustments.

 

 

 



Schedule of Loans Contractual Terms to Maturity

The following table sets forth certain information at December 31, 2018 regarding the dollar amount of loans maturing in the Bank’s portfolio based on their contractual terms to maturity. Demand loans, loans having no stated schedule of repayments and no stated maturity, and overdrafts are reported as due in one year or less.





 

 

 

 

 

 

December 31, 2018

 

Due within one

 

Due after one year

 

Due more than

(dollars in thousands)

 

year after

 

through five years from

 

five years from

Description of Asset

 

December 31, 2018

 

December 31, 2018

 

December 31, 2018

Real Estate Loans

 

 

 

 

 

 

  Commercial

 

$                       90,152 

 

$                         184,151 

 

$                     603,713 

  Residential first mortgage

 

 7,895 

 

 31,176 

 

 117,638 

  Residential rentals

 

 7,723 

 

 30,936 

 

 85,639 

  Construction and land development

 

 18,905 

 

 10,800 

 

 -

  Home equity and second mortgage

 

 220 

 

 548 

 

 34,793 

Commercial loans

 

 71,680 

 

 -

 

 -

Consumer loans

 

 297 

 

 387 

 

 67 

Commercial equipment

 

 13,618 

 

 25,100 

 

 11,484 

         Total loans

 

$                     210,490 

 

$                         283,098 

 

$                     853,334 





Schedule of Loans Due After One Year

The following table sets forth the dollar amount of all loans due after one year from December 31, 2018, which have predetermined interest rates and have floating or adjustable interest rates.





 

 

 

 

 

 

December 31, 2018

 

 

 

 

 

 

(dollars in thousands)

 

 

 

Floating or

 

 

Description of Asset

 

Fixed Rates

 

Adjustable Rates

 

Total

Real Estate Loans

 

 

 

 

 

 

  Commercial

 

$                     203,383 

 

$                         584,481 

 

$                     787,864 

  Residential first mortgage

 

 96,009 

 

 52,805 

 

 148,814 

  Residential rentals

 

 25,367 

 

 91,208 

 

 116,575 

  Construction and land development

 

 9,200 

 

 1,600 

 

 10,800 

  Home equity and second mortgage

 

 691 

 

 34,650 

 

 35,341 

Commercial loans

 

 -

 

 -

 

 -

Consumer loans

 

 454 

 

 -

 

 454 

Commercial equipment

 

 33,413 

 

 3,171 

 

 36,584 



 

$                     368,517 

 

$                         767,915 

 

$                  1,136,432 



Related Party Loans

Included in loans receivable were loans made to executive officers and directors of the Company. These loans were made in the ordinary course of business at substantially the same terms and conditions as those prevailing at the time for comparable transactions with persons not affiliated with the Bank and are not considered to involve more than the normal risk of collectability. For the years ended December 31, 2018, 2017 and 2016, all loans to directors and executive officers of the Bank performed according to original loan terms. Activity in loans outstanding to executive officers and directors are summarized as follows:







 

 

 

 

 

 

 



 

At and For the Years Ended December 31,

 

(dollars in thousands)

 

2018

 

2017

 

2016

 



 

 

 

 

 

 

 

Balance, beginning of period

 

$                     26,476 

 

$                     26,464 

 

$                     28,105 

 

Loans and additions

 

 46 

 

 3,699 

 

 2,547 

 

Change in Directors' status

 

 575 

 

 -

 

 2,299 

 

Repayments

 

 (2,245)

 

 (3,687)

 

 (6,487)

 

Balance, end of period

 

$                     24,852 

 

$                     26,476 

 

$                     26,464