Annual report pursuant to Section 13 and 15(d)

LOANS (Tables)

v2.4.0.8
LOANS (Tables)
 12 Months Ended
Dec. 31, 2013
Loans Tables  
Schedule of composition of the loan portfolio
(Dollars in Thousands)   2013   2012
Commercial, Financial and Agricultural   $ 126,607     $ 139,850  
Real Estate – Construction     31,012       37,512  
Real Estate – Commercial Mortgage     533,871       613,625  
Real Estate– Residential(1)     309,692       321,986  
Real Estate – Home Equity     227,922       236,263  
Consumer     159,500       157,877  
Loans, Net of Unearned Income   $ 1,388,604     $ 1,507,113  

 

(1) Includes loans in process with outstanding balances of $6.8 million and $11.9 million for 2013 and 2012, respectively.
Schedule of recorded investment in nonaccrual loans and loans past due over 90 days and still on accrual by class of loans
    2013   2012
(Dollars in Thousands)   Nonaccrual   90 + Days   Nonaccrual   90 + Days
Commercial, Financial and Agricultural   $ 188       —       $ 1,069       —    
Real Estate – Construction     426       —         4,071       —    
Real Estate – Commercial Mortgage     25,227       —         41,045       —    
Real Estate– Residential     6,440       —         13,429       —    
Real Estate – Home Equity     4,084       —         4,034       —    
Consumer     599       —         574       —    
Total Nonaccrual Loans   $ 36,964       —       $ 64,222       —    
Schedule of aging of 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
2013                                                
Commercial, Financial and Agricultural   $ 258     $ 100     $ —       $ 358     $ 126,062     $ 126,607  
Real Estate – Construction     —         —         —         —         30,587       31,012  
Real Estate – Commercial Mortgage     1,548       672       —         2,220       506,424       533,871  
Real Estate – Residential     1,647       1,090       —         2,737       300,514       309,692  
Real Estate – Home Equity     848       212       —         1,060       222,778       227,922  
Consumer     1,127       244       —         1,371       157,529       159,500  
Total Past Due Loans   $ 5,428     $ 2,318     $ —       $ 7,746     $ 1,343,894     $ 1,388,604  
                                                 
2012                                                
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  
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
2013                                                                
Beginning Balance   $ 1,253     $ 2,856     $ 11,081     $ 8,678     $ 2,945     $ 1,327     $ 1,027     $ 29,167  
Provision for Loan Losses     (15 )     (207 )     (83 )     3,392       971       441       (1,027 )     3,472  
Charge-Offs     (748 )     (1,070 )     (3,651 )     (3,835 )     (1,159 )     (1,751 )     —         (12,214 )
Recoveries     209       1       363       838       294       965       —         2,670  
Net Charge-Offs     (539 )     (1,069 )     (3,288 )     (2,997 )     (865 )     (786 )     —         (9,544 )
Ending Balance   $ 699     $ 1,580     $ 7,710     $ 9,073     $ 3,051     $ 982     $ —       $ 23,095  
                                                                 
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  
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
2013                                                                
Period-end amount                                                                
Allocated to:                                                                
Loans Individually Evaluated for Impairment   $ 75     $ 66     $ 4,336     $ 2,047     $ 682     $ 23     $ —       $ 7,229  
Loans Collectively Evaluated for Impairment     624       1,514       3,374       7,026       2,369       959       —         15,866  
Ending Balance   $ 699     $ 1,580     $ 7,710     $ 9,073     $ 3,051     $ 982     $ —       $ 23,095  
                                                                 
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  
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
2013                                                                
Individually Evaluated for Impairment   $ 1,580     $ 557     $ 49,973     $ 20,470     $ 3,359     $ 355     $ —       $ 76,294  
Collectively Evaluated for Impairment     125,027       30,455       483,898       289,222       224,563       159,145       —         1,312,310  
Total   $ 126,607     $ 31,012     $ 533,871     $ 309,692     $ 227,922     $ 159,500     $ —       $ 1,388,604  
                                                                 
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  

 
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
2013                                
Commercial, Financial and Agricultural   $ 1,580     $ 443     $ 1,137     $ 75  
Real Estate – Construction     557       —         557       66  
Real Estate – Commercial Mortgage     49,973       19,860       30,113       4,336  
Real Estate– Residential     20,470       4,330       16,140       2,047  
Real Estate – Home Equity     3,359       646       2,713       682  
Consumer     355       90       265       23  
Total   $ 76,294     $ 25,369     $ 50,925     $ 7,229  
                                 
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  
Schedule of Average recorded investment and interest income recognized by class of impaired loans
    2013   2012   2011
(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   $ 2,861     $ 140     $ 2,018     $ 81     $ 1,554     $ 62  
Real Estate – Construction     1,181       7       4,443       70       1,775       36  
Real Estate – Commercial Mortgage     60,043       2,062       70,701       2,113       50,706       1,285  
Real Estate– Residential     21,238       860       28,680       853       30,988       667  
Real Estate – Home Equity     4,037       72       3,540       95       2,743       61  
Consumer     501       10       229       3       90       3  
Total   $ 89,861     $ 3,151     $ 109,611     $ 3,215     $ 87,856     $ 2,114  
Schedule of risk category of loans by segment
(Dollars in Thousands)   Commercial, Financial, Agriculture   Real Estate   Consumer   Total Criticized Loans
2013                                
Special Mention   $ 3,656     $ 45,870     $ 115     $ 49,641  
Substandard     4,243       108,990       1,496       114,729  
Doubtful     —         900       —         900  
Total Criticized Loans   $ 7,899     $ 155,760     $ 1,611     $ 165,270  
                                 
2012                                
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  
Schedule of troubled debt restructurings loans
    2013   2012
(Dollars in Thousands)   Accruing   Nonaccruing   Accruing   Nonaccruing
Commercial, Financial and Agricultural   $ 1,511     $ —       $ 1,462     $ 508  
Real Estate – Construction     156       —         161       —    
Real Estate – Commercial Mortgage     24,735       10,308       29,870       8,425  
Real Estate– Residential     16,441       458       13,824       936  
Real Estate – Home Equity     1,576       241       1,587       —    
Consumer     345       —         570       10  
Total TDRs   $ 44,764     $ 11,007     $ 47,474     $ 9,879  
Schedule of loans classified as troubled debt in which modifications made
    2013   2012   2011
(Dollars in Thousands)   Number of
Contracts		   Recorded
Investment(1) 		  Number of
Contracts		   Recorded
Investment(1) 		  Number of
Contracts		   Recorded
Investment(1)
Commercial, Financial and Agricultural     4     $ 337       12     $ 1,857       7     $ 547  
Real Estate – Construction     —         —         6       976       5       3,752  
Real Estate – Commercial Mortgage     13       9,653       54       16,011       46       16,311  
Real Estate– Residential     18       2,073       68       6,955       79       15,487  
Real Estate – Home Equity     9       587       19       731       9       660  
Consumer     6       93       60       656       2       23  
Total TDRs     50     $ 12,743       219     $ 27,186       148     $ 36,780  

 

(1) Recorded investment reflects charge-offs and additional funds advanced at time of restructure, if applicable.
Schedule of loans classified as troubled debt subsequently defaulted
    2013   2012   2011
(Dollars in Thousands)   Number of
Contracts		   Recorded
Investment(1) 		  Number of
Contracts		   Recorded
Investment(1) 		  Number of
Contracts		   Recorded
Investment(1)
Commercial, Financial and Agricultural     —       $ —         —       $ —         2     $ 218  
Real Estate – Construction     —         —         4       713       1       2,327  
Real Estate – Commercial Mortgage     1       73       3       1,001       12       5,221  
Real Estate– Residential     —         —         7       1,906       7       1,424  
Real Estate – Home Equity     1       50       —         —         —         —    
Consumer     —         —         1       2       —         —    
Total TDRs     2     $ 123       15     $ 3,622       22     $ 9,190  

 

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