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RECENT ACCOUNTING STANDARDS UPDATE ("ASU") (Tables)
12 Months Ended
Dec. 31, 2023
RECENT ACCOUNTING STANDARDS UPDATE ("ASU")  
Schedule of the impact of ASC 326

    

January 1, 2023

As Reported

Impact of

(Dollars in thousands)

Under

Pre-ASC 326

ASC 326

 

ASC 326

 

Adoption

 

Adoption

Assets:

Loans

Commercial, financial and agricultural

$

634

$

297

$

337

Real estate - commercial

2,421

1,110

1,311

Real estate - construction:

 

 

 

1-4 family residential construction

183

69

114

Other construction loans

670

1,077

(407)

Real estate - mortgage

 

1,136

 

1,385

 

(249)

Obligations of states and political subdivisions

45

54

(9)

Personal

 

49

 

35

 

14

Allowance for credit losses on loans

$

5,138

$

4,027

$

1,111

Liabilities:

Allowance for credit losses on OBS credit exposures

$

448

$

8

$

440