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Loans and Allowance for Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Schedule of Summary of Loans, by Major Class Within the Company's Loan Portfolio
Major classifications within the Company’s held for investment loan portfolio at March 31, 2022 and December 31, 2021 is as follows:
(in thousands)March 31, 2022December 31, 2021
Commercial, financial, and agricultural(a)
$221,015 $217,214 
Real estate construction − residential21,51527,920
Real estate construction − commercial103,47891,369
Real estate mortgage − residential287,879279,346
Real estate mortgage − commercial677,539663,256
Installment and other consumer22,49723,028
Total loans held for investment$1,333,923 $1,302,133 
(a)Includes $2.3 million and $8.4 million of Small Business Administration Paycheck Protection (SBA PPP) loans, net as of March 31, 2022 and December 31, 2021, respectively.
Schedule of Summary of the Allowance for Loan Losses
The following table illustrates the changes in the allowance for loan losses by portfolio segment:
Three Months Ended March 31, 2022
(in thousands)Commercial, Financial, & AgriculturalReal Estate Construction - ResidentialReal Estate Construction - CommercialReal Estate Mortgage - ResidentialReal Estate Mortgage - CommercialInstallment and Other ConsumerUn- allocatedTotal
Balance at beginning of period$2,717 $137 $588 $2,482 $10,662 $256 $61 $16,903 
Additions:
(Release of ) provision for loan losses128(77)7693(2,897)56121(2,500)
Deductions:
Loans charged off35———7556—166
Less recoveries on loans(20)——(3)(2)(17)—(42)
Net loan charge-offs (recoveries)15——(3)7339—124
Balance at end of period$2,830 $60 $664 $2,578 $7,692 $273 $182 $14,279 
Three Months Ended March 31, 2021
(in thousands)Commercial, Financial, & AgriculturalReal Estate Construction - ResidentialReal Estate Construction - CommercialReal Estate Mortgage - ResidentialReal Estate Mortgage - CommercialInstallment and Other ConsumerUn- allocatedTotal
Balance at beginning of period$5,121 $213 $475 $2,679 $9,354 $264 $7 $18,113 
Additions:
Provision for loan losses(567)8357(253)5731394—
Deductions:
Loans charged off27———2357—107
Less recoveries on loans(149)(13)—(168)—(25)—(355)
Net loan charge-offs (recoveries)(122)(13)—(168)2332—(248)
Balance at end of period$4,676 $309 $532 $2,594 $9,904 $245 $101 $18,361 
Schedule of Allowance for Loan Losses and Recorded Investment by Portfolio Segment
The following table illustrates the allowance for loan losses and recorded investment by portfolio segment:
(in thousands)Commercial, Financial, and AgriculturalReal Estate Construction - ResidentialReal Estate Construction - CommercialReal Estate Mortgage - ResidentialReal Estate Mortgage - CommercialInstallment and Other ConsumerUn- allocatedTotal
March 31, 2022
Allowance for loan losses:
Individually evaluated for impairment$39 $— $13 $206 $41 $18 $— $317 
Collectively evaluated for impairment2,791606512,3727,65125518213,962
Total$2,830 $60 $664 $2,578 $7,692 $273 $182 $14,279 
Loans outstanding:
Individually evaluated for impairment$319 $— $100 $2,428 $15,800 $140 $— $18,787 
Collectively evaluated for impairment220,69621,515103,378285,451661,73922,357—1,315,136
Total$221,015 $21,515 $103,478 $287,879 $677,539 $22,497 $— $1,333,923 
December 31, 2021
Allowance for loan losses:
Individually evaluated for impairment$42 $— $13 $166 $2,815 $8 $— $3,044 
Collectively evaluated for impairment2,6751375752,3167,8472486113,859
Total$2,717 $137 $588 $2,482 $10,662 $256 $61 $16,903 
Loans outstanding:
Individually evaluated for impairment$341 $— $105 $2,391 $24,357 $60 $— $27,254 
Collectively evaluated for impairment216,87327,92091,264276,955638,89922,968—1,274,879
Total$217,214 $27,920 $91,369 $279,346 $663,256 $23,028 $— $1,302,133 
Schedule of Impaired Loans
The categories of impaired loans at March 31, 2022 and December 31, 2021 are as follows:
(in thousands)March 31, 2022December 31, 2021
Non-accrual loans$17,096 $25,459 
Performing TDRs1,6911,795
Total impaired loans$18,787 $27,254 
The following tables provide additional information about impaired loans at March 31, 2022 and December 31, 2021, respectively, segregated between loans for which an allowance has been provided and loans for which no allowance has been provided.
(in thousands)Recorded InvestmentUnpaid Principal BalanceSpecific Reserves
March 31, 2022
With no related allowance recorded:   
Real estate mortgage − residential$754 $754 $— 
Real estate mortgage − commercial15,36416,045—
Installment and other consumer— 4 — 
Total$16,118 $16,803 $— 
With an allowance recorded:  
Commercial, financial and agricultural$319 $357 $39 
Real estate construction − commercial10013513
Real estate mortgage − residential1,6742,152206
Real estate mortgage − commercial43651641
Installment and other consumer14014018
Total$2,669 $3,300 $317 
Total impaired loans$18,787 $20,103 $317 
(in thousands)Recorded InvestmentUnpaid Principal BalanceSpecific Reserves
December 31, 2021   
With no related allowance recorded:   
Real estate mortgage − residential$1,034 $1,152 $— 
Real estate mortgage − commercial15,59316,057—
Total$16,627 $17,209 $— 
With an allowance recorded:
Commercial, financial and agricultural$341 $374 $42 
Real estate construction − commercial10513813
Real estate mortgage − residential1,3571,730166
Real estate mortgage − commercial8,7649,1422,815
Installment and other consumer60618
Total$10,627 $11,445 $3,044 
Total impaired loans$27,254 $28,654 $3,044 
The following table presents by class, information related to the average recorded investment and interest income recognized on impaired loans during the periods indicated.
Three Months Ended March 31,
20222021
(in thousands)Average Recorded InvestmentInterest Recognized For the Period EndedAverage Recorded InvestmentInterest Recognized For the Period Ended
With no related allowance recorded:
Commercial, financial and agricultural$— $— $1,742 $8 
Real estate mortgage − residential75991,4249
Real estate mortgage − commercial21,256—9,457—
Installment and other consumer2———
Total$22,017 $9 $12,623 $17 
With an allowance recorded:
Commercial, financial and agricultural$323 $3 $5,696 $7 
Real estate construction − residential——190—
Real estate construction − commercial101—199—
Real estate mortgage − residential1,65971,9586
Real estate mortgage − commercial440716,1957
Installment and other consumer96—853
Total$2,619 $17 $24,323 $23 
Total impaired loans$24,636 $26 $36,946 $40 
Schedule of Aging Information for the Company's Past Due and Non-Accrual Loans
The following table provides aging information for the Company’s past due and non-accrual loans at March 31, 2022 and December 31, 2021.
(in thousands)Current or Less Than 30 Days Past Due30 - 89 Days Past Due90 Days Past Due And Still AccruingNon-AccrualTotal
March 31, 2022
Commercial, Financial, and Agricultural$220,703 $176 $— $136 $221,015 
Real estate construction − residential21,513 2 — — 21,515 
Real estate construction − commercial103,339 39 — 100 103,478 
Real estate mortgage − residential286,007 614 — 1,258 287,879 
Real estate mortgage − commercial662,062 — — 15,477 677,539 
Installment and Other Consumer22,273 96 3 125 22,497 
Total$1,315,897 $927 $3 $17,096 $1,333,923 
December 31, 2021
Commercial, Financial, and Agricultural$217,058 $3 $— $153 $217,214 
Real estate construction − residential27,920———27,920
Real estate construction − commercial91,264——10591,369
Real estate mortgage − residential277,532671141,129279,346
Real estate mortgage − commercial638,982245—24,029663,256
Installment and Other Consumer22,848137—4323,028
Total$1,275,604 $1,056 $14 $25,459 $1,302,133 
Schedule of Risk Categories by Class
The following table presents the risk categories by class at March 31, 2022 and December 31, 2021.
(in thousands)Commercial, Financial, & AgriculturalReal Estate Construction - ResidentialReal Estate Construction - CommercialReal Estate Mortgage - ResidentialReal Estate Mortgage - CommercialInstallment and other ConsumerTotal
At March 31, 2022
Watch$8,618 $— $2,897 $12,061 $41,464 $— $65,040 
Substandard6,143 — 2,673 537 10,893 — 20,246 
Performing TDRs183 — — 1,170 323 15 1,691 
Non-accrual loans136 — 100 1,258 15,477 125 17,096 
Total$15,080 $— $5,670 $15,026 $68,157 $140 $104,073 
At December 31, 2021
Watch$9,219 $— $4,304 $12,185 $43,348 $— $69,056 
Substandard6,284 — 2,673 750 2,305 — 12,012 
Performing TDRs188——1,262328171,795
Non-accrual loans153—1051,12924,0294325,459
Total$15,844 $— $7,082 $15,326 $70,010 $60 $108,322