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Loans and Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
Schedule of Loans, by Major Class Within the Company's Loan Portfolio
Major classifications within the Company’s held for investment loan portfolio at December 31, 2023 and 2022 were as follows:
(in thousands)20232022
Commercial, financial, and agricultural$226,275 $244,549 
Real estate construction − residential
58,347 32,095 
Real estate construction − commercial
130,296 137,235 
Real estate mortgage − residential
372,391 361,025 
Real estate mortgage − commercial
731,024 722,729 
Installment and other consumer20,814 23,619 
Total loans held for investment$1,539,147 $1,521,252 
The following tables provide additional information about impaired loans at December 31, 2022, segregated between loans for which an allowance has been provided and loans for which no allowance has been provided.
(in thousands)Recorded
Investment		Unpaid
Principal
Balance		Specific
Reserves		Average Recorded Investment
December 31, 2022
With no related allowance recorded:
Real estate mortgage − residential$— $— $— $1 
Real estate mortgage − commercial17,664 18,975 — 16,230
Total$17,664 $18,975 $— $16,231 
With an allowance recorded:
Commercial, financial and agricultural$295 $330 $36 $319 
Real estate construction − commercial87 127 11 93
Real estate mortgage − residential1,863 2,080 148 2,189
Real estate mortgage − commercial446 535 62 428
Installment and other consumer6 6 1 90
Total$2,697 $3,078 $258 $3,119 
Total impaired loans$20,361 $22,053 $258 $19,350 
Schedule of Loans to Directors and Executive Officers
The following is a summary of loans to directors and executive officers or to entities in which such individuals had a beneficial interest of the Company:
(in thousands)
Balance at December 31, 2022
$9,415 
New loans4,373 
Amounts collected(4,191)
Balance at December 31, 2023
$9,597 
Schedule of the Allowance for Loan Losses
The following table illustrates the changes in the allowance for credit losses by portfolio segment:
(in thousands)Commercial,
Financial, &
Agricultural		 Real Estate
Construction -
Residential		 Real Estate
Construction -
Commercial		 Real Estate
Mortgage -
Residential		 Real Estate
Mortgage -
Commercial		 Installment
and other
Consumer		 Un-
allocated		 Total
Allowance for Credit Losses on Loans
Balance at, December 31, 2020$5,121 $213 $475 $2,679 $9,354 $264 $7 $18,113 
Charge-offs(194)— — (22)(43)(229)— (488)
Recoveries221 13 475 190 3 76 — 978 
Provision for (release of) credit losses(2,431)(89)(362)(365)1,348 145 54 (1,700)
Balance at, December 31, 2021$2,717 $137 $588 $2,482 $10,662 $256 $61 $16,903 
Charge-offs(135)— — — (181)(321)— (637)
Recoveries56 — 22 45 11 88 — 222 
Provision for (release of) credit losses97 20 265 802 (2,492)303 105 (900)
Balance at, December 31, 2022$2,735 $157 $875 $3,329 $8,000 $326 $166 $15,588 
Adoption of ASU 2016-13 (1)(649)291 2,894 1,890 1,613 (80)(166)5,793 
Balance at January 1, 20232,086 448 3,769 5,219 9,613 246 — 21,381 
Charge-offs(161)— — (88)(32)(347)— (628)
Recoveries192 — 22 23 4 85 — 326 
Provision for (release of) credit losses1,091 595 (518)110 952 248 187 2,665 
Balance at, December 31, 2023$3,208 $1,043 $3,273 $5,264 $10,537 $232 $187 $23,744 
Liability for Unfunded Commitments
Balance at, December 31, 2022$— $— $— $— $— $— $— $— 
Adoption of ASU 2016-13 (1)104 341 569 107 150 1 — 1,272 
Balance at January 1, 2023104 341 569 107 150 1 — 1,272 
Provision for (release of) credit losses on unfunded commitments93 (68)(324)(4)(40)— 18 (325)
Balance at, December 31, 2023$197 $273 $245 $103 $110 $1 $18 $947 
Total allowance for credit losses on loans and liability for unfunded commitments$3,405 $1,316 $3,518 $5,367 $10,647 $233 $205 $24,691 
(1) Beginning January 1, 2023, calculation is based on CECL methodology. Prior to January 1, 2023, calculation was based on probable incurred loss methodology.
Schedule of Amortized Cost of Collateral-Dependent Loans by Class and Investment by Risk Categories
The amortized cost of collateral-dependent loans by class as of December 31, 2023 was as follows:
Collateral Type
(in thousands)Real EstateOtherAllowance Allocated
December 31, 2023
Commercial, financial, and agricultural$— $2,221 $1,300 
Real estate construction − residential432 — 164 
Real estate mortgage − residential$46 $— $19 
Real estate mortgage − commercial2,369 — — 
Total$2,847 $2,221 $1,483 
The categories of impaired loans at December 31, 2022 were as follows:
(in thousands) 2022
Non-accrual loans$18,700 
Performing TDRs1,661 
Total impaired loans$20,361 
The following table presents the recorded investment by risk categories at December 31, 2023:
Term Loans
Amortized Cost Basis by Origination Year and Risk Grades
(in thousands)20232022202120202019PriorRevolving Loans Amortized Cost BasisRevolving Loans Converted to Term Loans Amortized Cost BasisTotal
December 31, 2023
Commercial, Financial, & Agricultural
Pass$40,103 $43,082 $32,812 $30,965 $4,774 $5,022 $55,379 $213 $212,350 
Watch1 2,505 32 586 3 282 2,502 — 5,911 
Substandard371 3,758 19 16 — — 323 1,299 5,786 
Non-accrual loans159 96 317 — 7 — 1,649 — 2,228 
Total$40,634 $49,441 $33,180 $31,567 $4,784 $5,304 $59,853 $1,512 $226,275 
Gross YTD charge-offs— 1 — — — 160 — — 161 
Real Estate Construction - Residential
Pass$39,847 $17,259 $634 $175 $— $— $— $— $57,915 
Watch— — — — — — — — — 
Substandard— — — — — — — — — 
Non-accrual loans432 — — — — — — — 432 
Total$40,279 $17,259 $634 $175 $— $— $— $— $58,347 
Gross YTD charge-offs— — — — — — — — — 
Real Estate Construction - Commercial
Pass$49,041 $53,058 $24,371 $1,040 $31 $735 $187 $— $128,463 
Watch934 17 — — — — 103 — 1,054 
Substandard710 — — — — — — — 710 
Non-accrual loans— — — — — 69 — — 69 
Total$50,685 $53,075 $24,371 $1,040 $31 $804 $290 $— $130,296 
Gross YTD charge-offs— — — — — — — — — 
Real Estate Mortgage - Residential
Pass$65,472 $121,430 $62,998 $47,884 $7,242 $19,193 $44,574 $202 $368,995 
Watch179 251 411 293 71 1,310 23 — 2,538 
Substandard16 — — 129 — 126 — — 271 
Non-accrual loans— 23 93 135 — 246 90 — 587 
Total$65,667 $121,704 $63,502 $48,441 $7,313 $20,875 $44,687 $202 $372,391 
Gross YTD charge-offs— — — 75 — — 13 — 88 
Real Estate Mortgage - Commercial
Pass$99,081 $208,699 $204,789 $84,363 $27,085 $39,941 $16,059 $659 $680,676 
Watch15,759 10,978 2,737 91 345 897 70 — 30,877 
Substandard— 215 15,944 — 45 289 — — 16,493 
Non-accrual loans1,817 54 712 212 83 — 100 — 2,978 
Total$116,657 $219,946 $224,182 $84,666 $27,558 $41,127 $16,229 $659 $731,024 
Gross YTD charge-offs— — — — — 32 — — 32 
Installment and other Consumer
Pass$7,430 $6,497 $2,720 $1,287 $987 $1,803 $90 $— $20,814 
Watch— — — — — — — — — 
Substandard— — — — — — — — — 
Non-accrual loans— — — — — — — — — 
Total$7,430 $6,497 $2,720 $1,287 $987 $1,803 $90 $— $20,814 
Gross YTD charge-offs84 23 7 — — 232 1 — 347 
Total Portfolio
Pass$300,974 $450,025 $328,324 $165,714 $40,119 $66,694 $116,289 $1,074 $1,469,213 
Watch16,873 13,751 3,180 970 419 2,489 2,698 — 40,380 
Substandard1,097 3,973 15,963 145 45 415 323 1,299 23,260 
Non-accrual loans2,408 173 1,122 347 90 315 1,839 — 6,294 
Total$321,352 $467,922 $348,589 $167,176 $40,673 $69,913 $121,149 $2,373 $1,539,147 
Total Gross YTD charge-offs$84 $24 $7 $75 $— $424 $14 $— $628 
The following table presents the recorded investment by risk categories at December 31, 2022:
Term Loans
Amortized Cost Basis by Origination Year and Risk Grades
(in thousands)20222021202020192018PriorRevolving Loans Amortized Cost BasisRevolving Loans Converted to Term Loans Amortized Cost BasisTotal
December 31, 2022
Commercial, Financial, & Agricultural
Pass$73,654 $40,681 $37,994 $6,479 $4,050 $2,718 $63,869 $504 $229,949 
Watch1,228 296 756 150 48 251 3,155 1,527 7,411 
Substandard5,014 58 24 — 152 — 1,820 — 7,068 
Non-accrual loans— — — 26 95 — — — 121 
Total$79,896 $41,035 $38,774 $6,655 $4,345 $2,969 $68,844 $2,031 $244,549 
Gross YTD charge-offs135 — — — — — — — 135 
Real Estate Construction - Residential
Pass$29,289 $1,248 $769 $449 $— $— $340 $— $32,095 
Watch— — — — — — — — — 
Substandard— — — — — — — — — 
Non-accrual loans— — — — — — — — — 
Total$29,289 $1,248 $769 $449 $— $— $340 $— $32,095 
Gross YTD charge-offs— — — — — — — — — 
Real Estate Construction - Commercial
Pass$60,318 $67,977 $2,249 $78 $676 $656 $1,831 $— $133,785 
Watch2,239 321 — — — 14 103 — 2,677 
Substandard686 — — — — — — — 686 
Non-accrual loans— — — — — 87 — — 87 
Total$63,243 $68,298 $2,249 $78 $676 $757 $1,934 $— $137,235 
Gross YTD charge-offs— — — — — — — — — 
Real Estate Mortgage - Residential
Pass$147,130 $68,380 $53,322 $8,013 $4,981 $25,590 $45,182 $523 $353,121 
Watch1,226 429 1,511 145 215 2,015 — — 5,541 
Substandard— 136 820 — 10 712 — — 1,678 
Non-accrual loans59 — 144 — — 386 96 — 685 
Total$148,415 $68,945 $55,797 $8,158 $5,206 $28,703 $45,278 $523 $361,025 
Gross YTD charge-offs— — — — — — — — — 
Real Estate Mortgage - Commercial
Pass$248,529 $203,033 $99,989 $31,341 $21,354 $38,317 $10,868 $121 $653,552 
Watch14,049 14,029 16,863 842 897 811 149 401 48,041 
Substandard260 2,673 — 48 — 306 — 48 3,335 
Non-accrual loans4,621 13,180 — — — — — — 17,801 
Total$267,459 $232,915 $116,852 $32,231 $22,251 $39,434 $11,017 $570 $722,729 
Gross YTD charge-offs101 — — — — 80 — — 181 
Installment and other Consumer
Pass$11,170 $5,183 $2,891 $2,016 $459 $88 $1,806 $— $23,613 
Watch— — — — — — — — — 
Substandard— — — — — — — — — 
Non-accrual loans2 3 — 1 — — — — 6 
Total$11,172 $5,186 $2,891 $2,017 $459 $88 $1,806 $— $23,619 
Gross YTD charge-offs268 10 5 21 1 — 16 — 321 
Total Portfolio
Pass$570,090 $386,502 $197,214 $48,376 $31,520 $67,369 $123,896 $1,148 $1,426,115 
Watch18,742 15,075 19,130 1,137 1,160 3,091 3,407 1,928 63,670 
Substandard5,960 2,867 844 48 162 1,018 1,820 48 12,767 
Non-accrual loans4,682 13,183 144 27 95 473 96 — 18,700 
Total$599,474 $417,627 $217,332 $49,588 $32,937 $71,951 $129,219 $3,124 $1,521,252 
Total Gross YTD charge-offs$504 $10 $5 $21 $1 $80 $16 $— $637 
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 based on the impairment method:
(in thousands)Commercial,
Financial, and
Agricultural		Real Estate
Construction -
Residential		Real Estate
Construction -
Commercial		Real Estate
Mortgage -
Residential		Real Estate
Mortgage -
Commercial		Installment
and other
Consumer		Un-
allocated		Total
December 31, 2022
Allowance for loan losses:
Individually evaluated for impairment$36 $— $11 $148 $62 $1 $— $258 
Collectively evaluated for impairment2,6991578643,1817,93832516615,330 
Total$2,735 $157 $875 $3,329 $8,000 $326 $166 $15,588 
Loans outstanding:
Individually evaluated for impairment$295 $— $87 $1,863 $18,110 $6 $— $20,361 
Collectively evaluated for impairment244,25432,095137,148359,162704,61923,613—1,500,891 
Total$244,549 $32,095 $137,235 $361,025 $722,729 $23,619 $— $1,521,252 
Schedule of Financing Receivable, Nonaccrual
The following tables present the recorded investment in non-accrual loans and loans past due over 90 days still on accrual by class of loans as of December 31, 2023 and 2022.
(in thousands)Non-accrual with no AllowanceNon-accrual with AllowanceTotal Non-accrual (1)90 Days Past Due And Still AccruingTotal Non-performing Loans
December 31, 2023
Commercial, Financial, and Agricultural$— $2,228 $2,228 $— $2,228 
Real estate construction − residential— 432 432 — 432 
Real estate construction − commercial— 69 69 — 69 
Real estate mortgage − residential— 587 587 115 702 
Real estate mortgage − commercial2,368 610 2,978 — 2,978 
Installment and Other Consumer— — — 4 4 
Total$2,368 $3,926 $6,294 $119 $6,413 
December 31, 2022
Commercial, Financial, and Agricultural$— $121 $121 $— $121 
Real estate construction − commercial— 87 87 —87 
Real estate mortgage − residential— 685 685 —685 
Real estate mortgage − commercial17,664 137 17,801 —17,801 
Installment and Other Consumer— 6 6 1 7 
Total$17,664 $1,036 $18,700 $1 $18,701 
(1) Includes $0.2 million and $0.3 million of restructured loans at December 31, 2023 and 2022, respectively.
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 December 31, 2023 and 2022.
(in thousands)Current or
Less Than
30 Days
Past Due		30 - 89 Days
Past Due		90 Days
Past Due
And Still
Accruing		Non-AccrualTotal
December 31, 2023
Commercial, Financial, and Agricultural$223,845 $202 $— $2,228 $226,275 
Real estate construction − residential57,568 347 — 432 58,347 
Real estate construction − commercial130,227 — — 69 130,296 
Real estate mortgage − residential368,956 2,733 115 587 372,391 
Real estate mortgage − commercial728,029 17 — 2,978 731,024 
Installment and Other Consumer20,607 203 4 — 20,814 
Total$1,529,232 $3,502 $119 $6,294 $1,539,147 
December 31, 2022
Commercial, Financial, and Agricultural$244,392 $36 $— $121 $244,549 
Real estate construction − residential32,095 — — — 32,095 
Real estate construction − commercial137,148 — — 87 137,235 
Real estate mortgage − residential359,672 668 — 685 361,025 
Real estate mortgage − commercial704,925 3 — 17,801 722,729 
Installment and Other Consumer23,506 106 1 6 23,619 
Total$1,501,738 $813 $1 $18,700 $1,521,252 
Schedule of Summary of Loans that were Modified as TDRs
The following table presents information regarding modifications to borrowers experiencing financial difficulty as of December 31, 2023:
December 31, 2023
(Dollars in thousands)Number of contractsRecorded Investment% to Total Loans
Commercial, financial and agricultural2$1600.01%
Real estate mortgage − residential
69800.06%
Real estate mortgage − commercial
22700.02%
Total10 $1,410 0.09 %