Quarterly report pursuant to Section 13 or 15(d)

LOANS, NET (Tables)

v3.3.0.814
LOANS, NET (Tables)
9 Months Ended
Sep. 30, 2015
Loans Net Tables  
Schedule of composition of the loan portfolio

Loan Portfolio Composition. The composition of the loan portfolio was as follows:

 

(Dollars in Thousands)   September 30, 2015   December 31, 2014
Commercial, Financial and Agricultural   $ 169,588     $ 136,925  
Real Estate – Construction     49,475       41,596  
Real Estate – Commercial Mortgage     491,734       510,120  
Real Estate – Residential(1)     290,784       295,969  
Real Estate – Home Equity     232,254       229,572  
Consumer(2)     241,348       217,192  
Loans, Net of Unearned Income   $ 1,475,183     $ 1,431,374  

 

(1) Includes loans in process with outstanding balances of $10.4 million and $7.4 million as of September 30, 2015 and December 31, 2014, respectively.

(2) Includes overdraft balances of $2.5 million and $2.4 million as of September 30, 2015 and December 31, 2014, respectively.
Schedule of recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans

The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans.

 

    September 30, 2015   December 31, 2014
(Dollars in Thousands)   Nonaccrual   90 + Days   Nonaccrual   90 + Days
Commercial, Financial and Agricultural   $ 60     $ —       $ 507     $ —    
Real Estate – Construction     491       —         424       —    
Real Estate – Commercial Mortgage     5,844       —         5,806       —    
Real Estate – Residential     4,973       —         6,737       —    
Real Estate – Home Equity     1,679       —         2,544       —    
Consumer     91       —         751       —    
Total   $ 13,138     $ —       $ 16,769     $ —    
Schedule of aging of past due loans by class of loans

The following table presents the aging of the recorded investment in past due loans by class of loans.

 

 

(Dollars in Thousands)

 

30-59

DPD

 

60-89

DPD

 

90 +

DPD

 

Total

Past Due

 

Total

Current

 

Total

Loans

September 30, 2015                                                
Commercial, Financial and Agricultural   $ 281     $ 3     $ —       $ 284     $ 169,244     $ 169,588  
Real Estate – Construction     —         545       —         545       48,439       49,475  
Real Estate – Commercial Mortgage     123       113       —         236       485,654       491,734  
Real Estate – Residential     682       1,022       —         1,704       284,107       290,784  
Real Estate – Home Equity     397       56       —         453       230,122       232,254  
Consumer     883       230       —         1,113       240,144       241,348  
Total   $ 2,366     $ 1,969     $ —       $ 4,335     $ 1,457,710     $ 1,475,183  
                                                 
December 31, 2014                                                
Commercial, Financial and Agricultural   $ 352     $ 155     $ —       $ 507     $ 135,911     $ 136,925  
Real Estate – Construction     690       —         —         690       40,482       41,596  
Real Estate – Commercial Mortgage     1,701       569       —         2,270       502,044       510,120  
Real Estate – Residential     682       1,147       —         1,829       287,403       295,969  
Real Estate – Home Equity     689       85       —         774       226,254       229,572  
Consumer     625       97       —         722       215,719       217,192  
Total   $ 4,739     $ 2,053     $ —       $ 6,792     $ 1,407,813     $ 1,431,374  
Schedule of activity in the allowance for loan losses by portfolio class

Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

 

 

(Dollars in Thousands)

  Commercial,
Financial,
Agricultural
 

Real Estate
Construction

 

Real Estate
Commercial
Mortgage

  Real Estate
Residential
  Real Estate
Home Equity
 

Consumer

 

Total

Three Months Ended September 30, 2015                                                        
Beginning Balance   $ 917     $ 360     $ 4,275     $ 5,654     $ 2,536     $ 1,494     $ 15,236  
Provision for Loan Losses     183       (64 )     333       (545 )     273       233       413  
Charge-Offs     (365 )     —         26       (476 )     (370 )     (318 )     (1,503 )
Recoveries     45       —         86       193       42       225       591  
Net Charge-Offs     (320 )     —         112       (283 )     (328 )     (93 )     (912 )
Ending Balance   $ 780     $ 296     $ 4,720     $ 4,826     $ 2,481     $ 1,634     $ 14,737  

Nine Months Ended September 30, 2015

                                                       
Beginning Balance   $ 784     $ 843     $ 5,287     $ 6,520     $ 2,882     $ 1,223     $ 17,539  
Provision for Loan Losses     708       (547 )     426       (870 )     506       858       1,081  
Charge-Offs     (894 )     —         (1,163 )     (1,265 )     (1,006 )     (1,245 )     (5,573 )
Recoveries     182       —         170       441       99       798       1,690  
Net Charge-Offs     (712 )     —         (993 )     (824 )     (907 )     (447 )     (3,883 )
Ending Balance   $ 780     $ 296     $ 4,720     $ 4,826     $ 2,481     $ 1,634     $ 14,737  
Three Months Ended September 30, 2014                                                        
Beginning Balance   $ 706     $ 1,267     $ 6,147     $ 8,214     $ 3,066     $ 1,143     $ 20,543  
Provision for Loan Losses     387       (280 )     386       (505 )     331       105       424  
Charge-Offs     (86 )     —         (1,208 )     (212 )     (621 )     (386 )     (2,513 )
Recoveries     28       2       213       93       37       266       639  
Net Charge-Offs     (58 )     2       (995 )     (119 )     (584 )     (120 )     (1,874 )
Ending Balance   $ 1,035     $ 989     $ 5,538     $ 7,590     $ 2,813     $ 1,128     $ 19,093  

Nine Months Ended September 30, 2014

                                                       
Beginning Balance   $ 699     $ 1,580     $ 7,710     $ 9,073     $ 3,051     $ 982     $ 23,095  
Provision for Loan Losses     371       (598 )     267       (385 )     1,048       579       1,282  
Charge-Offs     (183 )     —         (2,831 )     (1,638 )     (1,399 )     (1,212 )     (7,263 )
Recoveries     148       7       392       540       113       779       1,979  
Net Charge-Offs     (35 )     7       (2,439 )     (1,098 )     (1,286 )     (433 )     (5,284 )
Ending Balance   $ 1,035     $ 989     $ 5,538     $ 7,590     $ 2,813     $ 1,128     $ 19,093  
Schedule of allowance for loan losses by portfolio class and disaggregated on the basis of the impairment methodology

The following table details the amount of the allowance for loan losses by portfolio class disaggregated on the basis of the Company’s impairment methodology.

 

(Dollars in Thousands)   Commercial,
Financial,
Agricultural
  Real Estate
Construction
  Real Estate
Commercial
Mortgage
  Real Estate
Residential
  Real Estate
Home Equity
  Consumer   Total
September 30, 2015                                                        
Period-end amount Allocated to:                                                        
Loans Individually Evaluated for Impairment   $ 81     $ —       $ 2,001     $ 2,004     $ 365     $ 4     $ 4,455  
Loans Collectively Evaluated for Impairment     699       296       2,719       2,822       2,116       1,630       10,282  
Ending Balance   $ 780     $ 296     $ 4,720     $ 4,826     $ 2,481     $ 1,634     $ 14,737  
December 31, 2014                                                        
Period-end amount Allocated to:                                                        
Loans Individually Evaluated for Impairment   $ 293     $ —       $ 2,733     $ 2,113     $ 638     $ 5     $ 5,782  
Loans Collectively Evaluated for Impairment     491       843       2,554       4,407       2,244       1,218       11,757  
Ending Balance   $ 784     $ 843     $ 5,287     $ 6,520     $ 2,882     $ 1,223     $ 17,539  
September 30, 2014                                                        
Period-end amount Allocated to:                                                        
Loans Individually Evaluated for Impairment   $ 576     $ 94     $ 3,359     $ 2,526     $ 471     $ 12     $ 7,038  
Loans Collectively Evaluated for Impairment     459       895       2,179       5,064       2,342       1,116       12,055  
Ending Balance   $ 1,035     $ 989     $ 5,538     $ 7,590     $ 2,813     $ 1,128     $ 19,093  
Schedule of allowance for loan losses by portfolio class

The Company’s recorded investment in loans related to each balance in the allowance for loan losses by portfolio class and disaggregated on the basis of the Company’s impairment methodology was as follows:

 

 

(Dollars in Thousands)

  Commercial,
Financial,
Agricultural
 

 

Real Estate
Construction

  Real Estate
Commercial
Mortgage
  Real Estate
Residential
  Real Estate
Home Equity
 

 

 

Consumer

 

 

 

Total

September 30, 2015                                                        
Individually Evaluated for Impairment   $ 813     $ 468     $ 24,170     $ 18,079     $ 2,702     $ 161     $ 46,393  
Collectively Evaluated for Impairment     168,775       49,007       467,564       272,705       229,552       241,187       1,428,790  
Total   $ 169,588     $ 49,475     $ 491,734     $ 290,784     $ 232,254     $ 241,348     $ 1,475,183  
December 31, 2014                                                        
Individually Evaluated for Impairment   $ 1,040     $ 401     $ 32,242     $ 20,120     $ 3,074     $ 216     $ 57,093  
Collectively Evaluated for Impairment     135,885       41,195       477,878       275,849       226,498       216,976       1,374,281  
Total   $ 136,925     $ 41,596     $ 510,120     $ 295,969     $ 229,572     $ 217,192     $ 1,431,374  
September 30, 2014                                                        
Individually Evaluated for Impairment   $ 1,489     $ 835     $ 37,524     $ 22,087     $ 2,796     $ 271     $ 65,002  
Collectively Evaluated for Impairment     132,267       37,286       464,339       286,208       226,172       203,101       1,349,373  
Total   $ 133,756     $ 38,121     $ 501,863     $ 308,295     $ 228,968     $ 203,372     $ 1,414,375  
Schedule of loans individually evaluated for impairment by class of loans

The following table presents loans individually evaluated for impairment by class of loans.

 

 

(Dollars in Thousands)

  Unpaid Principal
Balance
 

Recorded Investment
With No Allowance

 

Recorded Investment
With Allowance

 

Related
Allowance

September 30, 2015                                
Commercial, Financial and Agricultural   $ 813     $ 286     $ 527     $ 81  
Real Estate – Construction     468       311       157       —    
Real Estate – Commercial Mortgage     24,170       5,727       18,443       2,001  
Real Estate – Residential     18,079       2,933       15,146       2,004  
Real Estate – Home Equity     2,702       733       1,969       365  
Consumer     161       61       100       4  
Total   $ 46,393     $ 10,051     $ 36,342     $ 4,455  
                                 
December 31, 2014                                
Commercial, Financial and Agricultural   $ 1,040     $ 189     $ 851     $ 293  
Real Estate – Construction     401       401       —         —    
Real Estate – Commercial Mortgage     32,242       11,984       20,258       2,733  
Real Estate – Residential     20,120       5,492       14,628       2,113  
Real Estate – Home Equity     3,074       758       2,316       638  
Consumer     216       3       213       5  
Total   $ 57,093     $ 18,827     $ 38,266     $ 5,782  
Schedule of Average recorded investment and interest income recognized by class of impaired loans

The following table summarizes the average recorded investment and interest income recognized by class of impaired loans.

 

    Three Months Ended September 30,   Nine Months Ended September 30,
    2015   2014   2015   2014 
(Dollars in Thousands)   Average Recorded Investment   Total Interest Income   Average Recorded Investment   Total Interest Income   Average Recorded Investment   Total Interest Income   Average Recorded Investment   Total Interest Income
Commercial, Financial and Agricultural   $ 942     $ 12     $ 1,433     $ 15     $ 1,044     $ 34     $ 1,482     $ 50  
Real Estate - Construction     389       —         828       1       395       —         738       4  
Real Estate - Commercial Mortgage     26,959       250       39,020       381       29,343       821       42,671       1,298  
Real Estate - Residential     18,499       215       22,180       284       19,239       626       21,610       800  
Real Estate - Home Equity     2,831       20       2,680       18       2,965       64       2,906       52  
Consumer     166       2       293       2       186       6       314       7  
Total   $ 49,786     $ 499     $ 66,434     $ 701     $ 53,172     $ 1,551     $ 69,721     $ 2,211  

 

Schedule of risk category of loans by segment

The following table presents the risk category of loans by segment.

 

 

(Dollars in Thousands)

  Commercial, Financial, Agriculture  

Real Estate

 

Consumer

 

Total Criticized Loans

September 30, 2015                                
Special Mention   $ 8,121     $ 36,078     $ 159     $ 44,358  
Substandard     1,200       59,659       552       61,411  
Doubtful     —         —         —         —    
Total Criticized Loans   $ 9,321     $ 95,737     $ 711     $ 105,769  
                                 
December 31, 2014                                
Special Mention   $ 8,059     $ 51,060     $ 114     $ 59,233  
Substandard     2,817       79,167       1,153       83,137  
Doubtful     —         —         —         —    
Total Criticized Loans   $ 10,876     $ 130,227     $ 1,267     $ 142,370  
Schedule of troubled debt restructurings loans


The following table presents loans classified as TDRs.

 

    September 30, 2015   December 31, 2014
(Dollars in Thousands)   Accruing   Nonaccruing   Accruing   Nonaccruing
Commercial, Financial and Agricultural   $ 876     $ —       $ 838     $ 266  
Real Estate – Construction     —         —         —         —    
Real Estate – Commercial Mortgage     18,526       737       26,565       1,591  
Real Estate – Residential     14,400       1,682       14,940       2,532  
Real Estate – Home Equity     2,000       8       1,856       356  
Consumer     159       —         211       —    
Total TDRs   $ 35,961     $ 2,427     $ 44,410     $ 4,745  
Schedule of loans classified as TDRs

Loans classified as TDRs during the periods indicated are presented in the table below.

 

    Three Months Ended September 30,   Nine Months Ended September 30,
    2015   2015
(Dollars in Thousands)   Number of Contracts   Pre-Modified
Recorded
Investment
  Post-Modified
Recorded
Investment
  Number of Contracts   Pre-Modified
Recorded
Investment
  Post-Modified
Recorded
Investment
Commercial, Financial and Agricultural     —       $ —       $ —         —       $ —       $ —    
Real Estate - Construction     —         —         —         —         —         —    
Real Estate - Commercial Mortgage     —         —         —         2       515       515  
Real Estate - Residential     1       49       49       6       717       690  
Real Estate - Home Equity     1       50       50       1       50       49  
Consumer     —         —         —         —         —         —    
Total TDRs     2     $ 99     $ 99       9     $ 1,282     $ 1,254  

 

    Three Months Ended September 30,   Nine Months Ended September 30,
    2014   2014
(Dollars in Thousands)   Number of Contracts   Pre-Modified
Recorded
Investment
  Post-Modified
Recorded
Investment
  Number of Contracts   Pre-Modified
Recorded
Investment
  Post-Modified
Recorded
Investment
Commercial, Financial and Agricultural     —       $ —       $ —         1     $ 51     $ 54  
Real Estate – Construction     —         —         —         —         —         —    
Real Estate - Commercial Mortgage     1       303       1,125       3       947       1,769  
Real Estate – Residential     2       201       182       8       1,308       1,390  
Real Estate - Home Equity     5       453       438       8       701       686  
Consumer     —         —         —         1       34       33  
Total TDRs     8     $ 957     $ 1,745       21     $ 3,041     $ 3,932  
Schedule of loans modified as TDRs within the previous 12 months and subsequently defaulted

For the three and nine months ended September 30, 2014, loans modified as TDRs within the previous 12 months that have subsequently defaulted during the periods indicated are presented in the table below.

 

    Three Months Ended September 30,   Nine Months Ended September 30,
    2014   2014
(Dollars in Thousands)   Number of
Contracts
 

Post-Modified

Recorded

Investment(1)

  Number of
Contracts
 

Post-Modified

Recorded

Investment(1)

Commercial, Financial and Agricultural     —       $ —         —       $ —    
Real Estate – Construction     —         —         —         —    
Real Estate - Commercial Mortgage     —         —         —         —    
Real Estate – Residential     3       334       4       451  
Real Estate - Home Equity     —         —         1       153  
Consumer     —         —         —         —    
Total TDRs     3     $ 334       5     $ 604  

 

(1) Recorded investment reflects charge-offs and additional funds advanced at time of restructure, if applicable.
Schedule of loans modified as TDRs information

The following table provides information on how TDRs were modified during the periods indicated.

 

   

 Three Months Ended September 30,

  Nine Months Ended September 30,
    2015   2015
(Dollars in Thousands)   Number of Contracts   Recorded Investment(1)   Number of Contracts   Recorded Investment(1)
Extended amortization     1     $ 49       2     $ 167  
Interest rate adjustment     —         —         1       156  
Extended amortization and interest rate adjustment     1       50       6       931  
Total TDRs     2     $ 99       9     $ 1,254  

 

   

 Three Months Ended September 30,

  Nine Months Ended September 30,
    2014   2014
(Dollars in Thousands)   Number of Contracts   Recorded Investment(1)   Number of Contracts   Recorded Investment(1)
Extended amortization     2     $ 158       8     $ 1,736  
Interest rate adjustment     —         —         1       156  
Extended amortization and interest rate adjustment     2       231       5       488  
Other     4       1,356       7       1,552  
Total TDRs     8     $ 1,745       21     $ 3,932  

 

(1) Recorded investment reflects charge-offs and additional funds advanced at time of restructure, if applicable.