Annual report pursuant to Section 13 and 15(d)

LOANS (Tables)

v2.4.0.6
LOANS (Tables)
 12 Months Ended
Dec. 31, 2012
Loans Tables  
Schedule of composition of the loan portfolio

 

(Dollars in Thousands)   2012   2011
Commercial, Financial and Agricultural   $ 139,850     $ 130,879  
Real Estate - Construction     37,512       18,892  
Real Estate - Commercial Mortgage     613,625       639,140  
Real Estate - Residential(1)     321,986       385,621  
Real Estate - Home Equity     236,263       244,263  
Consumer     157,877       188,663  
Loans, Net of Unearned Income   $ 1,507,113     $ 1,607,458  

 

  (1) Includes loans in process with outstanding balances of $11.9 million and $12.5 million for 2012 and 2011, respectively.

 
Schedule of recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans

 

    2012   2011
(Dollars in Thousands)   Nonaccrual   90 + Days   Nonaccrual   90 + Days
Commercial, Financial and Agricultural   $ 1,069       —       $ 755       46  
Real Estate - Construction     4,071       —         334       —    
Real Estate - Commercial Mortgage     41,045       —         42,820       —    
Real Estate - Residential     13,429       —         25,671       58  
Real Estate - Home Equity     4,034       —         4,283       95  
Consumer     574       —         1,160       25  
Total Nonaccrual Loans   $ 64,222       —       $ 75,023       224  

 
Schedule of aging of past due loans by class of loans

 

2012

(Dollars in Thousands)

   30-59
DPD		   60-89
DPD		   90 +
DPD		   Total
Past Due		   Total
Current		   Total
Loans
Commercial, Financial and Agricultural   $ 302     $ 314     $ —       $ 616     $ 138,165     $ 139,850  
Real Estate - Construction     375       —         —         375       33,066       37,512  
Real Estate - Commercial Mortgage     1,090       583       —         1,673       570,907       613,625  
Real Estate - Residential     2,788       1,199       —         3,987       304,570       321,986  
Real Estate - Home Equity     711       487       —         1,198       231,031       236,263  
Consumer     1,693       392       —         2,085       155,218       157,877  
Total Past Due Loans   $ 6,959     $ 2,975     $ —       $ 9,934     $ 1,432,957     $ 1,507,113  

 

2011

(Dollars in Thousands)

   30-59
DPD		   60-89
DPD		   90 +
DPD		   Total
Past Due		   Total
Current		   Total
Loans
Commercial, Financial and Agricultural   $ 307     $ 49     $ 46     $ 402     $ 129,722     $ 130,879  
Real Estate - Construction     —         —         —         —         18,558       18,892  
Real Estate - Commercial Mortgage     3,070       646       —         3,716       592,604       639,140  
Real Estate - Residential     7,983       3,031       58       11,072       348,878       385,621  
Real Estate - Home Equity     1,139       500       95       1,734       238,246       244,263  
Consumer     2,355       345       25       2,725       184,778       188,663  
Total Past Due Loans   $ 14,854     $ 4,571     $ 224     $ 19,649     $ 1,512,786     $ 1,607,458  

 
Schedule of activity in the allowance for loan losses by portfolio class

 

 

(Dollars in Thousands)

   Commercial, Financial, Agricultural   Real Estate Construction   Real Estate Commercial Mortgage   Real Estate Residential   Real Estate Home Equity   Consumer   Unallocated   Total
2012                                                                
Beginning Balance   $ 1,534     $ 1,133     $ 10,660     $ 12,518     $ 2,392     $ 1,887     $ 911     $ 31,035  
Provision for Loan Losses     251       2,309       5,770       4,588       3,050       82       116       16,166  
Charge-Offs     (822 )     (629 )     (6,031 )     (9,719 )     (2,896 )     (2,125 )     —         (22,222 )
Recoveries     290       43       682       1,291       399       1,483       —         4,188  
Net Charge-Offs     (532 )     (586 )     (5,349 )     (8,428 )     (2,497 )     (642 )             (18,034 )
Ending Balance   $ 1,253     $ 2,856     $ 11,081     $ 8,678     $ 2,945     $ 1,327     $ 1,027     $ 29,167  
                                                                 
2011                                                                
Beginning Balance   $ 1,544     $ 2,060     $ 8,645     $ 17,046     $ 2,522     $ 2,612     $ 1,007     $ 35,436  
Provision for Loan Losses     1,446       (827 )     8,477       6,864       2,383       749       (96 )     18,996  
Charge-Offs     (1,843 )     (114 )     (6,713 )     (11,870 )     (2,727 )     (2,924 )     —         (26,191 )
Recoveries     387       14       251       478       214       1,450       —         2,794  
Net Charge-Offs     (1,456 )     (100 )     (6,462 )     (11,392 )     (2,513 )     (1,474 )     —         (23,397 )
Ending Balance   $ 1,534     $ 1,133     $ 10,660     $ 12,518     $ 2,392     $ 1,887     $ 911     $ 31,035  
                                                                 
2010                                                                
Beginning Balance   $ 2,409     $ 12,117     $ 8,751     $ 14,159     $ 2,201     $ 3,457     $ 905     $ 43,999  
Provision for Loan Losses     883       (4,188 )     8,395       14,670       2,853       1,109       102       23,824  
Charge-Offs     (2,118 )     (5,877 )     (8,762 )     (12,168 )     (3,087 )     (3,502 )     —         (35,514 )
Recoveries     370       8       261       385       555       1,548       —         3,127  
Net Charge-Offs     (1,748 )     (5,869 )     (8,501 )     (11,783 )     (2,532 )     (1,954 )     —         (32,387 )
Ending Balance   $ 1,544     $ 2,060     $ 8,645     $ 17,046     $ 2,522     $ 2,612     $ 1,007     $ 35,436  

 
Schedule of allowance for loan losses by portfolio class and disaggregated on the basis of the impairment methodology

 

 

(Dollars in Thousands)

   Commercial, Financial, Agricultural   Real Estate Construction   Real Estate Commercial Mortgage   Real Estate Residential   Real Estate Home Equity   Consumer   Unallocated   Total
2012                                                                
Period-end amount                                                                
Allocated to:                                                                
Loans Individually Evaluated for Impairment   $ 210     $ 714     $ 6,641     $ 2,778     $ 546     $ 32     $ —       $ 10,921  
Loans Collectively Evaluated for Impairment     1,043       2,142       4,440       5,900       2,399       1,295       1,027       18,246  
Ending Balance   $ 1,253     $ 2,856     $ 11,081     $ 8,678     $ 2,945     $ 1,327     $ 1,027     $ 29,167  
2011                                                                
Period-end amount Allocated to:                                                                
Loans Individually Evaluated for Impairment   $ 311     $ 68     $ 5,828     $ 4,702     $ 239     $ 26     $ —       $ 11,174  
Loans Collectively Evaluated for Impairment     1,223       1,065       4,832       7,816       2,153       1,861       911       19,861  
Ending Balance   $ 1,534     $ 1,133     $ 10,660     $ 12,518     $ 2,392     $ 1,887     $ 911     $ 31,035  
2010                                                                
Period-end amount                                                                
Allocated to:                                                                
Loans Individually Evaluated for Impairment   $ 252     $ 413     $ 4,640     $ 7,965     $ 1,389     $ 71     $ —       $ 14,730  
Loans Collectively Evaluated for Impairment     1,292       1,647       4,005       9,081       1,133       2,541       1,007       20,706  
Ending Balance   $ 1,544     $ 2,060     $ 8,645     $ 17,046     $ 2,522     $ 2,612     $ 1,007     $ 35,436  

 
Schedule of allowance for loan losses by portfolio class

 

(Dollars in Thousands)   Commercial, Financial, Agricultural   Real Estate Construction   Real Estate Commercial Mortgage   Real Estate Residential   Real Estate Home Equity   Consumer   Unallocated   Total
2012                                                                
Individually Evaluated for Impairment   $ 2,325     $ 4,232     $ 74,650     $ 23,030     $ 3,858     $ 687     $ —       $ 108,782  
Collectively Evaluated for Impairment     137,525       33,280       538,975       298,956       232,405       157,190       —         1,398,331  
Total   $ 139,850     $ 37,512     $ 613,625     $ 321,986     $ 236,263     $ 157,877     $ —       $ 1,507,113  
2011                                                                
Individually Evaluated for Impairment   $ 1,653     $ 511     $ 65,624     $ 36,324     $ 3,527     $ 143     $ —       $ 107,782  
Collectively Evaluated for Impairment     129,226       18,381       573,516       349,297       240,736       188,520       —         1,499,676  
Total   $ 130,879     $ 18,892     $ 639,140     $ 385,621     $ 244,263     $ 188,663     $ —       $ 1,607,458  
2010                                                                
Individually Evaluated for Impairment   $ 1,685     $ 2,533     $ 42,369     $ 37,779     $ 3,278     $ 144     $ —       $ 87,788  
Collectively Evaluated for Impairment     155,709       35,447       629,333       386,450       248,287       204,086       —         1,659,312  
Total   $ 157,394     $ 37,980     $ 671,702     $ 424,229     $ 251,565     $ 204,230     $ —       $ 1,747,100  

 
Schedule of 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
2012                                
Commercial, Financial and Agricultural   $ 2,325     $ 527     $ 1,797     $ 210  
Real Estate – Construction     4,232       —         4,232       714  
Real Estate - Commercial Mortgage     74,650       22,594       52,056       6,641  
Real Estate – Residential     23,030       2,635       20,395       2,778  
Real Estate - Home Equity     3,858       890       2,968       546  
Consumer     687       123       565       32  
Total   $ 108,782     $ 26,769     $ 82,013     $ 10,921  
                                 
2011                                
Commercial, Financial and Agricultural   $ 1,653     $ 671     $ 982     $ 311  
Real Estate – Construction     511       —         511       68  
Real Estate - Commercial Mortgage     65,624       19,987       45,637       5,828  
Real Estate – Residential     36,324       6,897       29,427       4,702  
Real Estate - Home Equity     3,527       645       2,882       239  
Consumer     143       90       53       26  
Total   $ 107,782     $ 28,290     $ 79,492     $ 11,174  

 
Schedule of Average recorded investment and interest income recognized by class of impaired loans

 

    2012   2011   2010
(Dollars in Thousands)   Average
Recorded
Investment		   Total Interest Income   Average
Recorded
Investment		   Total Interest Income   Average
Recorded
Investment		   Total Interest Income
Commercial, Financial and Agricultural   $ 2,018     $ 81     $ 1,554     $ 62     $ 2,768     $ 116  
Real Estate - Construction     4,443       70       1,775       36       5,801       76  
Real Estate - Commercial Mortgage     70,701       2,113       50,706       1,285       48,820       1,648  
Real Estate - Residential     28,680       853       30,988       667       41,958       920  
Real Estate - Home Equity     3,540       95       2,743       61       3,087       45  
Consumer     229       3       90       3       172       9  
Total   $ 109,611     $ 3,215     $ 87,856     $ 2,114     $ 102,606     $ 2,814  

 
Schedule of risk category of loans by segment

 

2012

(Dollars in Thousands)

   Commercial, Financial, Agriculture   Real Estate   Consumer   Total Loans
Special Mention   $ 4,380     $ 54,938     $ 142     $ 59,460  
Substandard     10,863       177,277       1,624       189,764  
Doubtful     158       1,515       —         1,673  
Total Criticized Loans   $ 15,401     $ 233,730     $ 1,766     $ 250,897  

 

2011

(Dollars in Thousands)

   Commercial, Financial, Agriculture   Real Estate   Consumer   Total Loans
Special Mention   $ 4,883     $ 43,787     $ 79     $ 48,749  
Substandard     9,804       202,734       1,699       214,237  
Doubtful     111       7,763       —         7,874  
Total Criticized Loans   $ 14,798     $ 254,284     $ 1,778     $ 270,860  

 
Schedule of troubled debt restructurings loans

 

    2012   2011
(Dollars in Thousands)   Accruing   Nonaccruing   Accruing   Nonaccruing
Commercial, Financial and Agricultural   $ 1,462     $ 508     $ 694     $ —    
Real Estate - Construction     161       —         178       —    
Real Estate - Commercial Mortgage     29,870       8,425       20,062       12,029  
Real Estate - Residential     13,824       936       15,553       947  
Real Estate - Home Equity     1,587       —         1,161       —    
Consumer     570       10       27       —    
Total TDRs   $ 47,474     $ 9,879     $ 37,675     $ 12,976  

 
Schedule of loans classified as troubled debt in which modifications made

 

    2012   2011
(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     12     $ 1,989     $ 1,857       7     $ 568     $ 547  
Real Estate - Construction     6       969       976       5       3,679       3,752  
Real Estate - Commercial Mortgage     54       15,704       16,011       46       16,197       16,311  
Real Estate - Residential     68       7,067       6,955       79       15,249       15,487  
Real Estate - Home Equity     19       770       731       9       639       660  
Consumer     60       606       656       2       24       23  
Total TDRs     219     $ 27,105     $ 27,186       148     $ 36,356     $ 36,780  

Schedule of loans classified as troubled debt subsequently defaulted

 

    2012   2011
(Dollars in Thousands)   Number of
Contracts		   Post-Modified
Recorded
Investment		   Number of
Contracts		   Post-Modified
Recorded
Investment
Commercial, Financial and Agricultural     —       $ —         2     $ 218  
Real Estate – Construction     4       713       1       2,327  
Real Estate - Commercial Mortgage     3       1,001       12       5,221  
Real Estate – Residential     7       1,906       7       1,424  
Real Estate - Home Equity     —         —         —         —    
Consumer     1       2       —         —    
Total TDRs     15     $ 3,622       22     $ 9,190