Loans (Tables)

12 Months Ended

Dec. 31, 2023

Loans

Summary of classes of loans

	December 31,		December 31,
(Dollars in thousands)	2023		2022
Commercial real estate	$	668,122	$	592,301
Commercial business		115,348		118,605
Construction - commercial real estate		69,768		49,136
Land acquisition and development		29,064		37,537
Builder lines		24,668		34,538
Construction - consumer real estate		11,223		10,539
Residential mortgage		293,256		266,267
Equity lines		51,592		43,300
Other consumer		10,588		8,938
Consumer finance - automobiles		401,276		411,112
Consumer finance - marine and recreational vehicles		67,234		63,445
Subtotal		1,742,139		1,635,718
Less allowance for credit losses		(39,651)		(40,518)
Loans, net	$	1,702,488	$	1,595,200

Schedule of past due status of loans

The following table shows the aging of the Corporation’s loan portfolio, by class, at December 31, 2023:

	30-59		60-89		90+								90+ Days
	Days		Days		Days		Total						Past Due and
(Dollars in thousands)	Past Due		Past Due		Past Due		Past Due		Current1		Total Loans		Accruing
Commercial real estate	$	92	$	—	$	—	$	92	$	668,030	$	668,122	$	—
Commercial business		—		—		1		1		115,347		115,348		1
Construction - commercial real estate		—		—		—		—		69,768		69,768		—
Land acquisition and development		—		—		—		—		29,064		29,064		—
Builder lines		—		—		—		—		24,668		24,668		—
Construction - consumer real estate		—		—		—		—		11,223		11,223		—
Residential mortgage		1,643		387		273		2,303		290,953		293,256		89
Equity lines		215		103		115		433		51,159		51,592		38
Other consumer		3		—		9		12		10,576		10,588		—
Consumer finance - automobiles		15,263		2,628		892		18,783		382,493		401,276		—
Consumer finance - marine and recreational vehicles		282		115		—		397		66,837		67,234		—
Total	$	17,498	$	3,233	$	1,290	$	22,021	$	1,720,118	$	1,742,139	$	128

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

The past due status of loans as of December 31, 2022 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
Residential mortgage	$	1,649	$	452	$	20	$	2,121	$	300	$	263,846	$	266,267	$	—
Real estate – construction:
Construction - commercial real estate		—		—		—		—		—		49,136		49,136		—
Construction - consumer real estate		—		—		—		—		—		10,539		10,539		—
Commercial, financial and agricultural:
Commercial real estate		—		—		—		—		1,114		591,187		592,301		—
Land acquisition and development		—		—		—		—		—		37,537		37,537		—
Builder lines		—		—		—		—		—		34,538		34,538		—
Commercial business		—		1		—		1		—		118,604		118,605		—
Equity lines		—		39		—		39		15		43,246		43,300		—
Other consumer		9		—		191		200		26		8,712		8,938		191
Consumer finance:
Automobiles		10,557		1,570		842		12,969		—		398,143		411,112		—
Marine and recreational vehicles		114		35		83		232		—		63,213		63,445		—
Total	$	12,329	$	2,097	$	1,136	$	15,562	$	1,455	$	1,618,701	$	1,635,718	$	191

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

Schedule of loans on nonaccrual status

	December 31,		December 31,
(Dollars in thousands)	2023		2022
Residential mortgage	$	320	$	156
Equity lines		77		108
Other consumer		9		—
Consumer finance - automobiles		892		842
Consumer finance - marine and recreational vehicles		—		83
Total	$	1,298	$	1,189

Summary of amortized cost basis of loans that were both experiencing financial difficulty and modified

	Year Ended December 31, 2023
			% of Total
			Class of
	Amortized		Financing
(Dollars in thousands)	Cost		Receivable
Term Extension
Commercial real estate	$	1,127		0.2	%
Commercial business		169		0.1
Residential mortgage		70		0.0
Total Term Extension	$	1,366
Combination Term Extension and Interest Rate Reduction
Commercial real estate		45		0.0
Commercial business		174		0.2
Total Combination Term Extension and Interest Rate Reduction	$	219
Total	$	1,585		0.1	%

	Year Ended December 31, 2023
	Weighted-			Weighted-
	Average			Average
	Interest Rate			Term Extension
(Dollars in thousands)	Reduction			(in years)
Commercial real estate		0.75	%		2.6
Commercial business		1.75			4.1
Residential mortgage		—			10.0
Total		1.54	%		3.2

	2022			2021
	Number of	Recorded		Number of	Recorded
(Dollars in thousands)	Loans	Investment		Loans	Investment
Real estate – residential mortgage	1	$	45	1	$	4
Total	1	$	45	1	$	4

Schedule of acquired loans

	December 31, 2022
	Acquired Loans -		Acquired Loans -
	Purchased		Purchased		Acquired Loans -
(Dollars in thousands)	Credit Impaired		Performing		Total
Outstanding principal balance	$	4,522	$	38,157	$	42,679
Carrying amount
Real estate – residential mortgage	$	300	$	8,587	$	8,887
Real estate – construction		—		—		—
Commercial, financial and agricultural1		1,114		23,023		24,137
Equity lines		15		5,047		5,062
Consumer		26		755		781
Total acquired loans	$	1,455	$	37,412	$	38,867

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

Summary of change in the accretable yield of loans classified as purchased credit impaired (PCI)

	Year Ended December 31,
(Dollars in thousands)	2022
Accretable yield, balance at beginning of period	$	3,111
Accretion		(1,566)
Reclassification of nonaccretable difference due to improvement in expected cash flows		1,921
Other changes, net		(222)
Accretable yield, balance at end of period	$	3,244

Schedule of impaired loans

			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	$	797	$	36	$	761	$	51	$	806	$	35
Equity lines		26		26		—		—		28		2
Total	$	823	$	62	$	761	$	51	$	834	$	37