Quarterly report pursuant to Section 13 or 15(d)

LOANS, NET (Tables)

v2.4.1.9
LOANS, NET (Tables)
 3 Months Ended
Mar. 31, 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)   March 31, 2015        December 31, 2014  
Commercial, Financial and Agricultural   $ 143,951     $ 136,925  
Real Estate – Construction     41,595       41,596  
Real Estate – Commercial Mortgage     507,681       510,120  
Real Estate – Residential(1)     296,724       295,969  
Real Estate – Home Equity     228,171       229,572  
Consumer     233,332       217,192  
Loans, Net of Unearned Income   $ 1,451,454     $ 1,431,374  

 

  (1) Includes loans in process with outstanding balances of $10.2 million and $7.4 million at March 31, 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.

 

    March 31, 2015     December 31, 2014  
(Dollars in Thousands)   Nonaccrual     90 + Days     Nonaccrual     90 + Days  
Commercial, Financial and Agricultural   $ 626       —     $ 507       —  
Real Estate – Construction     423       —       424       —  
Real Estate – Commercial Mortgage     6,909       —       5,806       —  
Real Estate – Residential     6,123       —       6,737       —  
Real Estate – Home Equity     2,254       —       2,544       —  
Consumer     455       —       751       —  
Total Nonaccrual Loans   $ 16,790       —     $ 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		  
March 31, 2015                                                
Commercial, Financial and Agricultural   $ 285     $ —     $ —     $ 285     $ 143,040     $ 143,951  
Real Estate – Construction     595       —       —       595       40,577       41,595  
Real Estate – Commercial Mortgage     497       —       —       497       500,275       507,681  
Real Estate – Residential     1,277       235       —       1,512       289,089       296,724  
Real Estate – Home Equity     226       —       —       226       225,691       228,171  
Consumer     522       52       —       574       232,303       233,332  
Total Past Due Loans   $ 3,402     $ 287     $ —     $ 3,689     $   1,430,975     $   1,451,454  
                                                 
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 Past Due Loans   $ 4,739     $ 2,053     $ —     $ 6,792     $ 1,407,813     $ 1,431,374  
                                                 

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

The following table details the 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                                                        
March  31, 2015                                                        
Beginning Balance   $ 784     $ 843     $ 5,287     $ 6,520     $ 2,882     $ 1,223     $ 17,539  
Provision for Loan Losses     354       (269 )     88       (68 )     (177 )     365       293  
Charge-Offs     (290 )     —       (904 )     (305 )     (182 )     (576 )     (2,257 )
Recoveries     55       —       30       48       24       358       515  
Net Charge-Offs     (235 )     —       (874 )     (257 )     (158 )     (218 )     (1,742 )
Ending Balance   $ 903     $ 574     $ 4,501     $ 6,195     $ 2,547     $ 1,370     $ 16,090  
                                                         
Three Months Ended                                                        
March 31, 2014                                                        
Beginning Balance   $ 699     $ 1,580     $ 7,710     $ 9,073     $ 3,051     $ 982     $ 23,095  
Provision for Loan Losses     (130 )     258       (63 )     105       194       (5 )     359  
Charge-Offs     (11 )     —       (594 )     (731 )     (403 )     (405 )     (2,144 )
Recoveries     75       4       27       395       11       288       800  
Net Charge-Offs     64       4       (567 )     (336 )     (392 )     (117 )     (1,344 )
Ending Balance   $ 633     $ 1,842     $ 7,080     $ 8,842     $ 2,853     $ 860     $ 22,110  
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  
March 31, 2015                                                        
Period-end amount Allocated to:                                                        
Loans Individually Evaluated for Impairment   $ 334     $ —     $ 2,349     $ 2,294     $ 557     $ 15     $ 5,549  
Loans Collectively Evaluated for Impairment     569       574       2,152       3,901       1,990       1,355       10,541  
Ending Balance   $ 903     $ 574     $ 4,501     $ 6,195     $ 2,547     $ 1,370     $ 16,090  
                                                         
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  
                                                         
March 31, 2014                                                        
Period-end amount Allocated to:                                                        
Loans Individually Evaluated for Impairment   $ 102     $ 89     $ 4,205     $ 2,281     $ 508     $ 32     $ 7,217  
Loans Collectively Evaluated for Impairment     531       1,753       2,875       6,561       2,345       828       14,893  
Ending Balance   $ 633     $ 1,842     $ 7,080     $ 8,842     $ 2,853     $ 860     $ 22,110  
                                                         
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  
March 31, 2015                                                        
Individually Evaluated for Impairment   $ 1,252     $ 401     $ 31,213     $ 19,840     $ 3,123     $ 197     $ 56,026  
Collectively Evaluated for Impairment     142,699       41,194       476,468       276,884       225,048       233,135       1,395,428  
Total   $ 143,951     $ 41,595     $ 507,681     $ 296,724     $ 228,171     $ 233,332     $ 1,451,454  
                                                         
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  
                                                         
March 31, 2014                                                        
Individually Evaluated for Impairment   $ 1,585     $ 556     $ 49,914     $ 20,844     $ 2,973     $ 361     $ 76,233  
Collectively Evaluated for Impairment     137,079       35,898       472,105       284,268       223,438       165,756       1,318,544  
Total   $ 138,664     $ 36,454     $ 522,019     $ 305,112     $ 226,411     $ 166,117     $ 1,394,777  

 
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		  
March 31, 2015                                
Commercial, Financial and Agricultural   $ 1,252     $ 182     $ 1,070     $ 334  
Real Estate – Construction     401       401       —       —  
Real Estate – Commercial Mortgage     31,213       13,012       18,201       2,349  
Real Estate – Residential     19,840       4,841       14,999       2,294  
Real Estate – Home Equity     3,123       799       2,324       557  
Consumer     196       2       194       15  
Total   $ 56,025     $ 19,237     $ 36,788     $ 5,549  
                                 
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.

 

    For Three Months Ended March 31,  
    2015     2014  
(Dollars in Thousands)   Average
Recorded
Investment		     Total
Interest
Income		     Average
Recorded
Investment		     Total
Interest
Income		  
Commercial, Financial and Agricultural   $ 1,252     $ 11     $ 1,582     $ 19  
Real Estate - Construction     401       —       557       1  
Real Estate - Commercial Mortgage     31,213       261       49,943       529  
Real Estate - Residential     19,840       197       20,656       209  
Real Estate - Home Equity     3,123       21       3,166       17  
Consumer     196       2       360       2  
Total   $ 56,025     $ 492     $ 76,264     $ 777  

 
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		  
March 31, 2015                                
Special Mention   $ 10,454     $ 48,027     $ 124     $ 58,605  
Substandard     2,101       71,305       841       74,247  
Doubtful     —       —       —       —  
Total Criticized Loans   $ 12,555     $ 119,332     $ 965     $ 132,852  
                                 
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.

 

    March 31, 2015     December 31, 2014  
(Dollars in Thousands)   Accruing     Nonaccruing     Accruing     Nonaccruing  
Commercial, Financial and Agricultural   $ 803     $ 261     $ 838     $ 266  
Real Estate – Construction     —       —       —       —  
Real Estate – Commercial Mortgage     24,062       457       26,565       —  
Real Estate – Residential     15,537       1,235       14,940       1,622  
Real Estate – Home Equity     1,993       150       1,856       356  
Consumer     195       —       211       —  
Total TDRs   $ 42,590     $ 2,103     $ 44,410     $ 2,244  

 
Schedule of loans classified as troubled debt in which modifications made

Loans classified as TDRs during the periods indicated are presented in the table below. The modifications made during the reporting period involved either an extension of the loan term or a principal moratorium and the financial impact of these modifications was not material.

 

    Three Months Ended March 31,
2015		     Three Months Ended March 31,
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     $ 52     $ 54  
Real Estate - Construction     —       —       —       —       —       —  
Real Estate - Commercial Mortgage     1       457       457       1       584       584  
Real Estate - Residential     4       464       437       3       836       890  
Real Estate - Home Equity     —       —       —       3       248       248  
Consumer     —       —       —       1       34       34  
Total TDRs     5     $ 921     $ 894       9     $ 1,754     $ 1,810  

 
Schedule of loans classified as troubled debt subsequently defaulted

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

 

    Three Months Ended March 31,
2015		     Three Months Ended March 31,
2014		  
(Dollars in Thousands)   Number of
Contracts		     Recorded
Investment(1) 		    Number of
Contracts		     Recorded
Investment(1) 		 
Extended amortization     1     $ 118       3     $ 1,262  
Interest rate adjustment     1       156       1       156  
Extended amortization and interest rate adjustment     3       620       2       197  
Other     —       —       3       195  
Total TDRs     5     $ 894       9     $ 1,810  

 

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