Quarterly report pursuant to Section 13 or 15(d)

LOANS, NET (Tables)

v3.2.0.727
LOANS, NET (Tables)
 6 Months Ended
Jun. 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)   June 30, 2015   December 31, 2014
Commercial, Financial and Agricultural   $ 151,116     $ 136,925  
Real Estate – Construction     44,216       41,596  
Real Estate – Commercial Mortgage     510,962       510,120  
Real Estate – Residential(1)     296,381       295,969  
Real Estate – Home Equity     230,388       229,572  
Consumer     241,202       217,192  
Loans, Net of Unearned Income   $ 1,474,265     $ 1,431,374  

 

  (1) Includes loans in process with outstanding balances of $12.6 million and $7.4 million at June 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.

 

    June 30, 2015   December 31, 2014
(Dollars in Thousands)   Nonaccrual   90 + Days   Nonaccrual   90 + Days
Commercial, Financial and Agricultural   $ 420     $ —       $ 507     $ —    
Real Estate – Construction     333       —         424       —    
Real Estate – Commercial Mortgage     6,395       —         5,806       —    
Real Estate – Residential     5,978       —         6,737       —    
Real Estate – Home Equity     2,095       —         2,544       —    
Consumer     99       —         751       —    
Total Nonaccrual Loans   $ 15,320     $ —       $ 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
June 30, 2015                                                
Commercial, Financial and Agricultural   $ 57     $ —       $ —       $ 57     $ 150,639     $ 151,116  
Real Estate – Construction     —         —         —         —         43,883       44,216  
Real Estate – Commercial Mortgage     2,640       68       —         2,708       501,859       510,962  
Real Estate – Residential     1,020       811       —         1,831       288,572       296,381  
Real Estate – Home Equity     451       —         —         451       227,842       230,388  
Consumer     626       185       —         811       240,292       241,202  
Total Past Due Loans   $ 4,794     $ 1,064     $ —       $ 5,858     $ 1,453,087     $ 1,474,265  
                                                 
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 June 30, 2015                                                        
Beginning Balance   $ 903     $ 574     $ 4,501     $ 6,195     $ 2,547     $ 1,370     $ 16,090  
Provision for Loan Losses     171       (214 )     5       (257 )     410       260       375  
Charge-Offs     (239 )     —         (285 )     (484 )     (454 )     (351 )     (1,813 )
Recoveries     82       —         54       200       33       215       584  
Net Charge-Offs     (157 )     —         (231 )     (284 )     (421 )     (136 )     (1,229 )
Ending Balance   $ 917     $ 360     $ 4,275     $ 5,654     $ 2,536     $ 1,494     $ 15,236  
                                                         

Six Months Ended

June 30, 2015

                                                        
Beginning Balance   $ 784     $ 843     $ 5,287     $ 6,520     $ 2,882     $ 1,223     $ 17,539  
Provision for Loan Losses     525       (483 )     93       (325 )     233       625       668  
Charge-Offs     (529 )     —         (1,189 )     (789 )     (636 )     (927 )     (4,070 )
Recoveries     137       —         84       248       57       573       1,099  
Net Charge-Offs     (392 )     —         (1,105 )     (541 )     (579 )     (354 )     (2,971 )
Ending Balance   $ 917     $ 360     $ 4,275     $ 5,654     $ 2,536     $ 1,494     $ 15,236  
                                                         
Three Months Ended June 30, 2014                                                        
Beginning Balance   $ 633     $ 1,842     $ 7,080     $ 8,842     $ 2,853     $ 860     $ 22,110  
Provision for Loan Losses     114       (576 )     (56 )     15       523       479       499  
Charge-Offs     (86 )     —         (1,029 )     (695 )     (375 )     (421 )     (2,606 )
Recoveries     45       1       152       52       65       225       540  
Net Charge-Offs     (41 )     1       (877 )     (643 )     (310 )     (196 )     (2,066 )
Ending Balance   $ 706     $ 1,267     $ 6,147     $ 8,214     $ 3,066     $ 1,143     $ 20,543  
                                                         
Six Months Ended June 30, 2014                                                        
Beginning Balance   $ 699     $ 1,580     $ 7,710     $ 9,073     $ 3,051     $ 982     $ 23,095  
Provision for Loan Losses     (16 )     (318 )     (119 )     120       717       474       858  
Charge-Offs     (97 )     —         (1,623 )     (1,426 )     (778 )     (826 )     (4,750 )
Recoveries     120       5       179       447       76       513       1,340  
Net Charge-Offs     23       5       (1,444 )     (979 )     (702 )     (313 )     (3,410 )
Ending Balance   $ 706     $ 1,267     $ 6,147     $ 8,214     $ 3,066     $ 1,143     $ 20,543  

 
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
June 30, 2015                                                        
Period-end amount Allocated to:                                                        
Loans Individually Evaluated for Impairment   $ 288     $ —       $ 2,070     $ 1,980     $ 453     $ 12     $ 4,803  
Loans Collectively Evaluated for Impairment     629       360       2,205       3,674       2,083       1,482       10,433  
Ending Balance   $ 917     $ 360     $ 4,275     $ 5,654     $ 2,536     $ 1,494     $ 15,236  
                                                         
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  
                                                         
June 30, 2014                                                        
Period-end amount Allocated to:                                                        
Loans Individually Evaluated for Impairment   $ 185     $ 63     $ 3,565     $ 2,563     $ 305     $ 20     $ 6,701  
Loans Collectively Evaluated for Impairment     521       1,204       2,582       5,651       2,761       1,123       13,842  
Ending Balance   $ 706     $ 1,267     $ 6,147     $ 8,214     $ 3,066     $ 1,143     $ 20,543  

 

 
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
June 30, 2015                                                        
Individually Evaluated for Impairment   $ 1,072     $ 311     $ 29,746     $ 18,918     $ 2,960     $ 171     $ 53,178  
Collectively Evaluated for Impairment     150,044       43,905       481,216       277,463       227,428       241,031       1,421,087  
Total   $ 151,116     $ 44,216     $ 510,962     $ 296,381     $ 230,388     $ 241,202     $ 1,474,265  
                                                         
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  
                                                         
June 30, 2014                                                        
Individually Evaluated for Impairment   $ 1,378     $ 821     $ 40,516     $ 22,273     $ 2,563     $ 315     $ 67,866  
Collectively Evaluated for Impairment     133,455       33,423       478,064       283,556       225,669       183,558       1,337,725  
Total   $ 134,833     $ 34,244     $ 518,580     $ 305,829     $ 228,232     $ 183,873     $ 1,405,591  

 
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
June 30, 2015                                
Commercial, Financial and Agricultural   $ 1,072     $ 176     $ 896     $ 288  
Real Estate – Construction     311       311       —         —    
Real Estate – Commercial Mortgage     29,746       11,626       18,120       2,070  
Real Estate – Residential     18,918       4,578       14,340       1,980  
Real Estate – Home Equity     2,960       1,046       1,914       453  
Consumer     171       25       146       12  
Total   $ 53,178     $ 17,762     $ 35,416     $ 4,803  
                                 
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 June 30,   Six Months Ended June 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   $ 1,162     $ 11     $ 1,482     $ 17     $ 1,121     $ 22     $ 1,514     $ 35  
Real Estate – Construction     356       —         689       1       371       —         645       2  
Real Estate – Commercial Mortgage     30,480       310       45,215       389       31,067       571       46,801       917  
Real Estate – Residential     19,379       214       21,558       307       19,626       411       21,195       517  
Real Estate – Home Equity     3,042       23       2,768       17       3,053       43       2,965       34  
Consumer     183       2       338       2       194       4       344       5  
Total   $ 54,602     $ 560     $ 72,050     $ 733     $ 55,432     $ 1,051     $ 73,464     $ 1,510  
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
June 30, 2015                                
Special Mention   $ 8,686     $ 37,412     $ 130     $ 46,228  
Substandard     1,595       66,980       577       69,152  
Doubtful     —         —         —         —    
Total Criticized Loans   $ 10,281     $ 104,392     $ 707     $ 115,380  
                                 
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.

 

    June 30, 2015   December 31, 2014
(Dollars in Thousands)   Accruing   Nonaccruing   Accruing   Nonaccruing
Commercial, Financial and Agricultural   $ 778     $ 253     $ 838     $ 266  
Real Estate – Construction     —         —         —         —    
Real Estate – Commercial Mortgage     23,646       952       26,565       1,591  
Real Estate – Residential     15,071       1,995       14,940       2,532  
Real Estate – Home Equity     1,969       157       1,856       356  
Consumer     168       —         211       —    
Total TDRs   $ 41,632     $ 3,357     $ 44,410     $ 4,745  

Schedule of loans classified as TDRs

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, an interest rate adjustment, or a principal moratorium, and the financial impact of these modifications was not material.

 

    Three Months Ended June 30,   Six Months Ended June 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     1       58       58       2       515       515  
Real Estate – Residential     1       204       204       5       668       641  
Real Estate – Home Equity     —         —         —         —         —         —    
Consumer     —         —         —         —         —         —    
Total TDRs     2     $ 262     $ 262       7     $ 1,183     $ 1,156  

 

 

    Three Months Ended June 30,   Six Months Ended June 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       60       60       2       644       644  
Real Estate – Residential     3       271       317       6       1,107       1,207  
Real Estate – Home Equity     —         —         —         3       248       248  
Consumer     —         —         —         1       34       34  
Total TDRs     4     $ 331     $ 377       13     $ 2,084     $ 2,187  

 
Schedule of loans modified as TDRs within the previous 12 months and subsequently defaulted

For the three and six months ended June 30, 2015, there were no defaults for TDR loans that had been modified within the previous 12 months. For the three and six months ended June 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 June 30,   Six Months Ended June 30,
    2014   2014
(Dollars in Thousands)   Number of
Contracts		   Post-Modified
Recorded
Investment		   Number of
Contracts		   Post-Modified
Recorded
Investment
Commercial, Financial and Agricultural     —       $ —         —       $ —    
Real Estate – Construction     —         —         —         —    
Real Estate – Commercial Mortgage     —         —         —         —    
Real Estate – Residential     1       118       1       118  
Real Estate – Home Equity     1       153       1       153  
Consumer     —         —         —         —    
Total TDRs     2     $ 271       2     $ 271  

 

  (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 June 30,   Six Months Ended June 30,
    2015   2015
(Dollars in Thousands)   Number of Contracts   Recorded Investment(1)   Number of Contracts   Recorded Investment(1)
Extended amortization     —       $ —         1     $ 118  
Interest rate adjustment     —         —         1       156  
Extended amortization and interest rate adjustment     2       262       5       882  
Other     —         —         —         —    
Total TDRs     2     $ 262       7     $ 1,156  

 

    Three Months Ended June 30,   Six Months Ended June 30,
    2014   2014
(Dollars in Thousands)   Number of Contracts   Recorded Investment(1)   Number of Contracts   Recorded Investment(1)
Extended amortization     3     $ 317       6     $ 1,579  
Interest rate adjustment     —         —         1       156  
Extended amortization and interest rate adjustment     1       60       3       257  
Other     —         —         3       195  
Total TDRs     4     $ 377       13     $ 2,187  

 

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