LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Tables) |
6 Months Ended |
|---|---|
Jun. 30, 2024 | |
| Loans Held for Investment and Allowance for Credit Losses [Abstract] | |
| Composition of the loan portfolio |
(Dollars in Thousands)
June 30, 2024
December 31, 2023
Commercial, Financial and Agricultural
$
204,990
$
225,190
Real Estate – Construction
200,754
196,091
Real Estate – Commercial Mortgage
823,122
825,456
Real Estate – Residential
(1)
1,014,827
1,004,219
Real Estate – Home Equity
211,126
210,920
Consumer
(2)
235,404
272,042
Loans Held For Investment, Net of Unearned Income
$
2,690,223
$
2,733,918
(1)
Includes loans in process balances of $
3.5
3.2
(2)
Includes overdraft balances of $
1.2
1.0
|
| Activity in allowance for loan losses by portfolio class |
Commercial,
Real Estate
Financial,
Real Estate
Commercial
Real Estate
Real Estate
(Dollars in Thousands)
Agricultural
Construction
Mortgage
Residential
Home Equity
Consumer
Total
Three Months Ended
June 30, 2024
Beginning Balance
$
1,525
$
1,869
$
5,947
$
14,828
$
1,896
$
3,264
$
29,329
Provision for Credit Losses
391
(118)
110
(63)
(68)
877
1,129
Charge-Offs
(400)
-
-
-
-
(1,632)
(2,032)
Recoveries
59
-
19
23
37
655
793
Net (Charge-Offs) Recoveries
(341)
-
19
23
37
(977)
(1,239)
Ending Balance
$
1,575
$
1,751
$
6,076
$
14,788
$
1,865
$
3,164
$
29,219
Six Months Ended
June 30, 2024
Beginning Balance
$
1,482
$
2,502
$
5,782
$
15,056
$
1,818
$
3,301
$
29,941
Provision for Credit Losses
675
(751)
71
(311)
62
2,265
2,011
Charge-Offs
(682)
-
-
(17)
(76)
(3,820)
(4,595)
Recoveries
100
-
223
60
61
1,418
1,862
Net (Charge-Offs) Recoveries
(582)
-
223
43
(15)
(2,402)
(2,733)
Ending Balance
$
1,575
$
1,751
$
6,076
$
14,788
$
1,865
$
3,164
$
29,219
Three Months Ended
June 30, 2023
Beginning Balance
$
1,515
$
3,359
$
4,710
$
11,950
$
1,879
$
3,395
$
26,808
Provision for Credit Losses
(86)
(512)
732
1,306
(188)
670
1,922
Charge-Offs
(54)
-
-
-
(39)
(1,887)
(1,980)
Recoveries
71
1
11
132
131
1,147
1,493
Net Charge-Offs
17
1
11
132
92
(740)
(487)
Ending Balance
$
1,446
$
2,848
$
5,453
$
13,388
$
1,783
$
3,325
$
28,243
Six Months Ended
June 30, 2023
Beginning Balance
$
1,506
$
2,654
$
4,815
$
10,741
$
1,864
$
3,488
$
25,068
Provision for Credit Losses
(8)
192
739
2,458
(198)
1,999
5,182
Charge-Offs
(218)
-
(120)
-
(39)
(4,253)
(4,630)
Recoveries
166
2
19
189
156
2,091
2,623
Net Charge-Offs
(52)
2
(101)
189
117
(2,162)
(2,007)
Ending Balance
$
1,446
$
2,848
$
5,453
$
13,388
$
1,783
$
3,325
$
28,243
|
| Loan Portfolio Aging |
30-59
60-89
90 +
Total
Total
Nonaccrual
Total
(Dollars in Thousands)
DPD
DPD
DPD
Past Due
Current
Loans
Loans
June 30, 2024
Commercial, Financial and Agricultural
$
139
$
124
$
-
$
263
$
204,574
$
153
$
204,990
Real Estate – Construction
-
-
-
-
200,432
322
200,754
Real Estate – Commercial Mortgage
351
-
-
351
822,128
643
823,122
Real Estate – Residential
855
367
-
1,222
1,010,794
2,811
1,014,827
Real Estate – Home Equity
234
-
-
234
209,779
1,113
211,126
Consumer
2,816
786
-
3,602
231,329
473
235,404
Total
$
4,395
$
1,277
$
-
$
5,672
$
2,679,036
$
5,515
$
2,690,223
December 31, 2023
Commercial, Financial and Agricultural
$
311
$
105
$
-
$
416
$
224,463
$
311
$
225,190
Real Estate – Construction
206
-
-
206
195,563
322
196,091
Real Estate – Commercial Mortgage
794
-
-
794
823,753
909
825,456
Real Estate – Residential
670
34
-
704
1,000,525
2,990
1,004,219
Real Estate – Home Equity
268
-
-
268
209,653
999
210,920
Consumer
3,693
774
-
4,467
266,864
711
272,042
Total
$
5,942
$
913
$
-
$
6,855
$
2,720,821
$
6,242
$
2,733,918
|
| Recorded investment in nonaccrual and past due loans |
June 30, 2024
December 31, 2023
Nonaccrual
Nonaccrual
Nonaccrual
Nonaccrual
With No
With
90 + Days
With No
With
90 + Days
(Dollars in Thousands)
ACL
ACL
Still Accruing
ACL
ACL
Still Accruing
Commercial, Financial and Agricultural
$
-
$
153
$
-
$
-
$
311
$
-
Real Estate – Construction
275
47
-
-
322
-
Real Estate – Commercial Mortgage
513
130
-
781
128
-
Real Estate – Residential
2,398
413
-
1,705
1,285
-
Real Estate – Home Equity
253
860
-
-
999
-
Consumer
-
473
-
-
711
-
Total Nonaccrual
$
3,439
$
2,076
$
-
$
2,486
$
3,756
$
-
|
| Collateral-dependent loans |
June 30, 2024
December 31, 2023
Real Estate
Non Real Estate
Real Estate
Non Real Estate
(Dollars in Thousands)
Secured
Secured
Secured
Secured
Commercial, Financial and Agricultural
$
-
$
30
$
-
$
30
Real Estate – Construction
275
-
275
-
Real Estate – Commercial Mortgage
513
-
1,296
-
Real Estate – Residential
1,690
-
1,706
-
Real Estate – Home Equity
253
-
-
-
Consumer
-
-
-
-
Total Collateral Dependent
$
2,731
$
30
$
3,277
$
30
|
| Loans held for investment by years of origination |
(Dollars in Thousands)
Term
Revolving
As of June 30, 2024
2024
2023
2022
2021
2020
Prior
Loans
Total
Commercial, Financial,
Agriculture:
Pass
$
18,575
$
49,781
$
46,330
$
23,774
$
7,579
$
11,464
$
44,117
$
201,620
Special Mention
213
339
468
158
6
1
1,615
2,800
Substandard
-
110
102
79
66
106
107
570
Total
$
18,788
$
50,230
$
46,900
$
24,011
$
7,651
$
11,571
$
45,839
$
204,990
Current-Period Gross
Writeoffs
$
-
$
160
$
343
$
81
$
28
$
-
$
70
$
682
Real Estate -
Construction:
Pass
$
32,673
$
110,069
$
44,567
$
5,782
$
-
$
186
$
645
$
193,922
Special Mention
3,201
709
335
-
-
-
-
4,245
Substandard
68
1,979
74
465
-
-
1
2,587
Total
$
35,942
$
112,757
$
44,976
$
6,247
$
-
$
186
$
646
$
200,754
Real Estate -
Commercial Mortgage:
Pass
$
45,499
$
118,169
$
252,091
$
129,114
$
94,607
$
133,921
$
19,088
$
792,489
Special Mention
179
5,513
5,456
-
784
5,122
-
17,054
Substandard
5,210
-
3,536
1,295
1,989
1,549
-
13,579
Total
$
50,888
$
123,682
$
261,083
$
130,409
$
97,380
$
140,592
$
19,088
$
823,122
Real Estate - Residential:
Pass
$
78,716
$
345,104
$
378,478
$
74,703
$
33,062
$
84,752
$
9,074
$
1,003,889
Special Mention
-
267
87
1,136
483
455
-
2,428
Substandard
-
-
1,416
2,636
1,211
3,247
-
8,510
Total
$
78,716
$
345,371
$
379,981
$
78,475
$
34,756
$
88,454
$
9,074
$
1,014,827
Current-Period Gross
Writeoffs
$
-
$
13
$
-
$
-
$
-
$
4
$
-
$
17
Real Estate - Home
Equity:
Performing
$
171
$
535
$
47
$
114
$
10
$
969
$
208,167
$
210,013
Nonperforming
-
-
-
-
-
-
1,113
1,113
Total
$
171
$
535
$
47
$
114
$
10
$
969
$
209,280
$
211,126
Current-Period Gross
Writeoffs
$
-
$
-
$
-
$
-
$
-
$
-
$
76
$
76
Consumer:
Performing
$
18,338
$
56,734
$
71,927
$
55,518
$
15,708
$
8,059
$
8,174
$
234,458
Nonperforming
80
-
236
153
-
4
473
946
Total
$
18,418
$
56,734
$
72,163
$
55,671
$
15,708
$
8,063
$
8,647
$
235,404
Current-Period Gross
Writeoffs
$
1,237
$
752
$
1,166
$
351
$
134
$
66
$
114
$
3,820
(Dollars in Thousands)
Term
Revolving
As of December 31, 2023
2023
2022
2021
2020
2019
Prior
Loans
Total
Commercial, Financial,
Agriculture:
Pass
$
57,320
$
66,671
$
28,933
$
10,610
$
7,758
$
7,502
$
44,350
$
223,144
Special Mention
168
608
356
10
9
-
76
1,227
Substandard
164
177
98
77
20
122
161
819
Total
$
57,652
$
67,456
$
29,387
$
10,697
$
7,787
$
7,624
$
44,587
$
225,190
Current-Period Gross
Writeoffs
$
6
$
252
$
65
$
31
$
41
$
19
$
97
$
511
Real Estate - Construction:
Pass
$
101,684
$
68,265
$
18,181
$
-
$
188
$
-
$
4,617
$
192,935
Special Mention
631
500
539
212
-
-
-
1,882
Substandard
-
47
576
651
-
-
-
1,274
Total
$
102,315
$
68,812
$
19,296
$
863
$
188
$
-
$
4,617
$
196,091
Real Estate - Commercial
Mortgage:
Pass
$
117,840
$
275,079
$
135,663
$
101,210
$
43,878
$
109,878
$
18,367
$
801,915
Special Mention
3,266
5,684
-
229
1,358
573
-
11,110
Substandard
-
1,226
6,695
1,637
605
1,574
694
12,431
Total
$
121,106
$
281,989
$
142,358
$
103,076
$
45,841
$
112,025
$
19,061
$
825,456
Current-Period Gross
Writeoffs
$
-
$
-
$
-
$
-
$
-
$
120
$
-
$
120
Real Estate - Residential:
Pass
$
372,394
$
400,437
$
83,108
$
35,879
$
24,848
$
68,685
$
8,252
$
993,603
Special Mention
268
89
83
502
-
313
-
1,255
Substandard
570
1,110
1,906
1,626
1,007
3,142
-
9,361
Total
$
373,232
$
401,636
$
85,097
$
38,007
$
25,855
$
72,140
$
8,252
$
1,004,219
Current-Period Gross
Writeoffs
$
-
$
-
$
79
$
-
$
-
$
-
$
-
$
79
Real Estate - Home
Equity:
Performing
$
890
$
48
$
127
$
11
$
386
$
950
$
207,509
$
209,921
Nonperforming
-
-
-
-
-
-
999
999
Total
$
890
$
48
$
127
$
11
$
386
$
950
$
208,508
$
210,920
Current-Period Gross
Writeoffs
$
-
$
-
$
-
$
-
$
-
$
-
$
39
$
39
Consumer:
Performing
$
68,496
$
90,031
$
70,882
$
21,314
$
10,210
$
4,258
$
5,431
$
270,622
Nonperforming
293
355
58
4
-
-
710
1,420
Total
$
68,789
$
90,386
$
70,940
$
21,318
$
10,210
$
4,258
$
6,141
$
272,042
Current-Period Gross
Writeoffs
$
3,137
$
3,224
$
1,362
$
329
$
230
$
99
$
162
$
8,543
|