XML 22 R12.htm IDEA: XBRL DOCUMENT v3.21.1
Loans
3 Months Ended
Mar. 31, 2021
Loans  
Loans

NOTE 4: Loans

​

Major classifications of loans are summarized as follows:

​

​

​

​

​

​

​

​

​

​

​

March 31, 

​

December 31, 

 

(Dollars in thousands)

    

2021

    

2020

 

Real estate – residential mortgage

​

$

216,920

​

$

218,298

​

Real estate – construction 1

​

 

52,884

​

 

62,147

​

Commercial, financial and agricultural 2

​

 

741,980

​

 

700,215

​

Equity lines

​

 

46,976

​

 

48,466

​

Consumer

​

 

9,132

​

 

11,028

​

Consumer finance

​

 

317,144

​

 

312,252

​

​

​

 

1,385,036

​

 

1,352,406

​

Less allowance for loan losses

​

 

(39,033)

​

 

(39,156)

​

Loans, net

​

$

1,346,003

​

$

1,313,250

​

1Includes the Corporation’s real estate construction lending and consumer real estate lot lending.
2Includes the Corporation’s commercial real estate lending, land acquisition and development lending, builder line lending and commercial business lending (which includes loans originated under the PPP).

​

Consumer loans included $125,000 and $284,000 of demand deposit overdrafts at March 31, 2021 and December 31, 2020, respectively.

​

Loans acquired in business combinations are recorded in the Consolidated Balance Sheets at fair value at the acquisition date under the acquisition method of accounting.  The outstanding principal balance and the carrying amount at March 31, 2021 and December 31, 2020 of loans acquired in business combinations were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

March 31, 2021

  

December 31, 2020

 

​

 

Acquired Loans -

  

Acquired Loans -

  

​

​

  

Acquired Loans -

  

Acquired Loans -

  

​

​

 

​

​

Purchased

​

Purchased

​

Acquired Loans -

​

Purchased

​

Purchased

​

Acquired Loans -

 

(Dollars in thousands)

​

Credit Impaired

​

Performing

​

Total

​

Credit Impaired

​

Performing

​

Total

 

Outstanding principal balance

​

$

11,931

​

$

79,015

​

$

90,946

​

$

12,760

​

$

89,043

​

$

101,803

​

Carrying amount

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Real estate – residential mortgage

​

$

914

​

$

14,007

​

$

14,921

​

$

1,473

​

$

15,117

​

$

16,590

​

Real estate – construction

​

​

—

​

​

1,077

​

​

1,077

​

​

—

​

​

1,077

​

​

1,077

​

Commercial, financial and agricultural1

​

 

4,872

​

 

51,880

​

 

56,752

​

 

4,758

​

 

58,796

​

 

63,554

​

Equity lines

​

 

50

​

 

8,861

​

 

8,911

​

 

80

​

 

10,182

​

 

10,262

​

Consumer

​

 

42

​

 

1,666

​

 

1,708

​

 

48

​

 

1,924

​

 

1,972

​

Total acquired loans

​

$

5,878

​

$

77,491

​

$

83,369

​

$

6,359

​

$

87,096

​

$

93,455

​

1Includes acquired loans classified by the Corporation as commercial real estate lending and commercial business lending.

​

The following table presents a summary of the change in the accretable yield of loans classified as purchased credit impaired (PCI):

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended March 31, 

​

(Dollars in thousands)

    

2021

 

2020

 

Accretable yield, balance at beginning of period

​

$

4,048

​

$

4,721

​

Acquisition of Peoples

​

 

—

​

 

3,366

​

Accretion

​

 

(517)

​

 

(959)

​

Reclassification of nonaccretable difference due to improvement in expected cash flows

​

 

456

​

 

733

​

Other changes, net

​

 

(69)

​

 

57

​

Accretable yield, balance at end of period

​

$

3,918

​

$

7,918

​

​

Loans on nonaccrual status were as follows:

​

​

​

​

​

​

​

​

​

​

​

March 31, 

​

December 31, 

 

(Dollars in thousands)

    

2021

    

2020

 

Real estate – residential mortgage

​

$

278

​

$

276

​

Commercial, financial and agricultural:

​

​

​

​

​

​

​

Commercial business lending

​

 

2,409

​

 

2,428

​

Equity lines

​

 

189

​

 

191

​

Consumer

​

 

110

​

 

107

​

Consumer finance

​

 

182

​

 

402

​

Total loans on nonaccrual status

​

$

3,168

​

$

3,404

​

​

​

The past due status of loans as of March 31, 2021 was as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  

​

​

  

​

​

  

​

​

  

​

​

  

​

​

​

​

​

  

​

​

  

90+ Days

 

​

​

30 - 59 Days

​

60 - 89 Days

​

90+ Days

​

Total

​

​

​

​

​

​

​

​

​

​

Past Due and

 

(Dollars in thousands)

​

Past Due

​

Past Due

​

Past Due

​

Past Due

​

PCI

​

Current1

​

Total Loans

​

Accruing

 

Real estate – residential mortgage

​

$

982

​

$

449

​

$

291

​

$

1,722

​

$

914

​

$

214,284

​

$

216,920

​

$

145

​

Real estate – construction:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Construction lending

​

 

—

​

 

—

​

 

—

​

 

—

​

​

—

​

 

39,525

​

 

39,525

​

 

—

​

Consumer lot lending

​

 

—

​

 

—

​

 

—

​

 

—

​

​

—

​

 

13,359

​

 

13,359

​

 

—

​

Commercial, financial and agricultural:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial real estate lending

​

 

219

​

 

—

​

 

—

​

 

219

​

​

4,872

​

 

449,211

​

 

454,302

​

 

—

​

Land acquisition and development lending

​

 

—

​

 

—

​

 

—

​

 

—

​

​

—

​

 

33,615

​

 

33,615

​

 

—

​

Builder line lending

​

 

—

​

 

—

​

 

—

​

 

—

​

​

—

​

 

22,388

​

 

22,388

​

 

—

​

Commercial business lending

​

 

—

​

 

—

​

 

—

​

 

—

​

​

—

​

 

231,675

​

 

231,675

​

 

—

​

Equity lines

​

 

51

​

 

64

​

 

—

​

 

115

​

​

50

​

 

46,811

​

 

46,976

​

 

—

​

Consumer

​

 

26

​

 

—

​

 

—

​

 

26

​

​

42

​

 

9,064

​

 

9,132

​

 

—

​

Consumer finance

​

 

4,242

​

 

518

​

 

182

​

 

4,942

​

​

—

​

 

312,202

​

 

317,144

​

 

—

​

Total

​

$

5,520

​

$

1,031

​

$

473

​

$

7,024

​

$

5,878

​

$

1,372,134

​

$

1,385,036

​

$

145

​

1For the purposes of the table above, “Current” includes loans that are 1-29 days past due.

​

The table above includes nonaccrual loans that are current of $2.83 million, 30-59 days past due of $5,000 and 90+ days past due of $328,000.

​

The past due status of loans as of December 31, 2020 was as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  

​

​

  

​

​

  

​

​

  

​

​

  

​

​

​

​

​

  

​

​

  

90+ Days

 

​

​

30 - 59 Days

​

60 - 89 Days

​

90+ Days

​

Total

​

​

​

​

​

​

​

​

​

​

Past Due and

 

(Dollars in thousands)

​

Past Due

​

Past Due

​

Past Due

​

Past Due

​

PCI

​

Current1

​

Total Loans

​

Accruing

 

Real estate – residential mortgage

​

$

1,100

​

$

154

​

$

176

​

$

1,430

​

$

1,473

​

$

215,395

​

$

218,298

​

$

145

​

Real estate – construction:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Construction lending

​

 

—

​

 

—

​

 

—

​

 

—

​

​

—

​

 

49,659

​

 

49,659

​

 

—

​

Consumer lot lending

​

 

—

​

 

—

​

 

—

​

 

—

​

​

—

​

 

12,488

​

 

12,488

​

 

—

​

Commercial, financial and agricultural:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial real estate lending

​

 

—

​

 

—

​

 

—

​

 

—

​

​

4,758

​

 

437,145

​

 

441,903

​

 

—

​

Land acquisition and development lending

​

 

—

​

 

—

​

 

—

​

 

—

​

​

—

​

 

37,724

​

 

37,724

​

 

—

​

Builder line lending

​

 

—

​

 

—

​

 

—

​

 

—

​

​

—

​

 

18,194

​

 

18,194

​

 

—

​

Commercial business lending

​

 

24

​

 

—

​

 

—

​

 

24

​

​

—

​

 

202,370

​

 

202,394

​

 

—

​

Equity lines

​

 

52

​

 

—

​

 

—

​

 

52

​

​

80

​

 

48,334

​

 

48,466

​

 

—

​

Consumer

​

 

2

​

 

—

​

 

—

​

 

2

​

​

48

​

 

10,978

​

 

11,028

​

 

—

​

Consumer finance

​

 

8,249

​

 

967

​

 

402

​

 

9,618

​

​

—

​

 

302,634

​

 

312,252

​

 

—

​

Total

​

$

9,427

​

$

1,121

​

$

578

​

$

11,126

​

$

6,359

​

$

1,334,921

​

$

1,352,406

​

$

145

​

1For the purposes of the table above, “Current” includes loans that are 1-29 days past due.

​

The table above includes nonaccrual loans that are current of $2.86 million, 30-59 days past due of $115,000 and 90+ days past due of $433,000.

​

There was one loan modification during the three months ended March 31, 2021 that was classified as a troubled debt restructuring (TDR). This TDR was a residential mortgage with a recorded investment of $4,000 at the time of modification and included modifications of the loan’s payment structure. There was one loan modification during the three months ended March 31, 2020 that was classified as a TDR.  This TDR was an equity line with a recorded investment of $84,000 at the time of its modification and included modifications of the loan’s payment structure.

​

All TDRs are considered impaired loans and are individually evaluated in the determination of the allowance for loan losses. A TDR payment default occurs when, within 12 months of the original TDR modification, either a full or partial charge-off occurs or a TDR becomes 90 days or more past due. The specific reserve associated with a TDR is reevaluated when a TDR payment default occurs. There were no TDR payment defaults during the three months ended March 31, 2021 and 2020.

​

Impaired loans, which included TDRs of $3.00 million, and the related allowance at March 31, 2021 were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

​

    

​

​

​

​

​

​

​

​

    

​

​

    

​

​

 

​

​

​

​

Recorded

​

Recorded

​

​

​

​

​

​

 

​

​

​

​

Investment

​

Investment

​

​

​

Average

​

​

 

​

​

Unpaid

​

in Loans

​

in Loans

​

​

​

Balance-

​

Interest

​

​

​

Principal

​

without

​

with

​

Related

​

Impaired

​

Income

​

(Dollars in thousands)

​

Balance

​

Specific Reserve

​

Specific Reserve

​

Allowance

​

Loans

​

Recognized

 

Real estate – residential mortgage

​

$

1,753

​

$

446

​

$

1,194

​

$

69

​

$

1,758

​

$

17

​

Commercial, financial and agricultural:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial real estate lending

​

 

1,395

​

 

—

​

 

1,395

​

 

95

​

 

1,396

​

 

18

​

Commercial business lending

​

 

2,430

​

 

—

​

 

2,408

​

 

625

​

 

2,410

​

 

—

​

Equity lines

​

 

120

​

 

110

​

 

—

​

 

—

​

 

117

​

 

—

​

Consumer

​

 

286

​

 

—

​

 

105

​

 

102

​

 

106

​

 

—

​

Total

​

$

5,984

​

$

556

​

$

5,102

​

$

891

​

$

5,787

​

$

35

​

​

Impaired loans, which included TDRs of $3.58 million, and the related allowance at December 31, 2020 were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

​

    

​

​

​

​

​

​

​

​

    

​

​

    

​

​

 

​

​

​

​

Recorded

​

Recorded

​

​

​

​

​

​

 

​

​

​

​

Investment

​

Investment

​

​

​

Average

​

​

 

​

​

Unpaid

​

in Loans

​

in Loans

​

​

​

Balance-

​

Interest

​

​

​

Principal

​

without

​

with

​

Related

​

Impaired

​

Income

​

(Dollars in thousands)

​

Balance

​

Specific Reserve

​

Specific Reserve

​

Allowance

​

Loans

​

Recognized

 

Real estate – residential mortgage

​

$

2,326

​

$

931

​

$

1,279

​

$

77

​

$

2,353

​

$

105

​

Commercial, financial and agricultural:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial real estate lending

​

 

1,397

​

 

—

​

 

1,397

​

 

89

​

 

1,404

​

 

73

​

Commercial business lending

​

 

2,430

​

 

—

​

 

2,428

​

 

585

​

 

2,573

​

 

—

​

Equity lines

​

 

120

​

 

111

​

 

—

​

 

—

​

 

119

​

 

2

​

Consumer

​

 

147

​

 

—

​

 

132

​

 

128

​

 

154

​

 

3

​

Total

​

$

6,420

​

$

1,042

​

$

5,236

​

$

879

​

$

6,603

​

$

183

​

​