Loans (Tables)
|
3 Months Ended |
Mar. 31, 2018 |
Loans and Leases Receivable Disclosure [Abstract] |
|
Schedule of related aging categories of loans by segment |
The following table presents the related aging categories of loans, by segment, as of March 31, 2018 and December 31, 2017: | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2018 | | | | | Past Due | | Past Due 90 | | | | | | | | | 30 To 89 | | Days Or More | | Non- | | | (In Thousands) | | Current | | Days | | & Still Accruing | | Accrual | | Total | Commercial, financial, and agricultural | | $ | 181,692 |
| | $ | 196 |
| | $ | 22 |
| | $ | 112 |
| | $ | 182,022 |
| Real estate mortgage: | | |
| | |
| | |
| | |
| | |
| Residential | | 596,577 |
| | 5,027 |
| | 424 |
| | 2,183 |
| | 604,211 |
| Commercial | | 330,024 |
| | 1,497 |
| | — |
| | 4,894 |
| | 336,415 |
| Construction | | 32,043 |
| | 162 |
| | — |
| | — |
| | 32,205 |
| Consumer automobile loans | | 99,327 |
| | 207 |
| | — |
| | — |
| | 99,534 |
| Other consumer installment loans | | 25,324 |
| | 521 |
| | — |
| | 6 |
| | 25,851 |
| | | 1,264,987 |
| | $ | 7,610 |
| | $ | 446 |
| | $ | 7,195 |
| | 1,280,238 |
| Net deferred loan fees and discounts | | 510 |
| | |
| | |
| | |
| | 510 |
| Allowance for loan losses | | (12,836 | ) | | |
| | |
| | |
| | (12,836 | ) | Loans, net | | $ | 1,252,661 |
| | |
| | |
| | |
| | $ | 1,267,912 |
|
| | | | | | | | | | | | | | | | | | | | | | | | December 31, 2017 | | | | | Past Due | | Past Due 90 | | | | | | | | | 30 To 89 | | Days Or More | | Non- | | | (In Thousands) | | Current | | Days | | & Still Accruing | | Accrual | | Total | Commercial, financial, and agricultural | | $ | 178,022 |
| | $ | 663 |
| | $ | 86 |
| | $ | 114 |
| | $ | 178,885 |
| Real estate mortgage: | | |
| | |
| | |
| | |
| | |
| Residential | | 588,278 |
| | 6,853 |
| | 318 |
| | 1,628 |
| | 597,077 |
| Commercial | | 325,148 |
| | 1,823 |
| | 80 |
| | 4,968 |
| | 332,019 |
| Construction | | 31,547 |
| | 116 |
| | 20 |
| | — |
| | 31,683 |
| Consumer automobile loans | | 79,595 |
| | 87 |
| | — |
| | 32 |
| | 79,714 |
| Other consumer installment loans | | 26,740 |
| | 202 |
| | 5 |
| | 17 |
| | 26,964 |
| | | 1,229,330 |
| | $ | 9,744 |
| | $ | 509 |
| | $ | 6,759 |
| | 1,246,342 |
| Net deferred loan fees and discounts | | 272 |
| | |
| | |
| | |
| | 272 |
| Allowance for loan losses | | (12,858 | ) | | |
| | |
| | |
| | (12,858 | ) | Loans, net | | $ | 1,216,744 |
| | |
| | |
| | |
| | $ | 1,233,756 |
|
|
Schedule of interest income if interest had been recorded based on the original loan agreement terms and rate of interest for non-accrual loans and interest income recognized on a cash basis for non-accrual loans |
The following table presents interest income the Banks would have recorded if interest had been recorded based on the original loan agreement terms and rate of interest for non-accrual loans and interest income recognized on a cash basis for non-accrual loans for the three months ended March 31, 2018 and 2017: | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | 2018 | | 2017 | (In Thousands) | | Interest Income That Would Have Been Recorded Based on Original Term and Rate | | Interest Income Recorded on a Cash Basis | | Interest Income That Would Have Been Recorded Based on Original Term and Rate | | Interest Income Recorded on a Cash Basis | Commercial, financial, and agricultural | | $ | 1 |
| | $ | — |
| | $ | 6 |
| | $ | — |
| Real estate mortgage: | | |
| | |
| | |
| | |
| Residential | | 31 |
| | 11 |
| | 151 |
| | 101 |
| Commercial | | 61 |
| | 17 |
| | 496 |
| | 105 |
| | | $ | 93 |
| | $ | 28 |
| | $ | 653 |
| | $ | 206 |
|
|
Schedule of recorded investment, unpaid principal balance, and related allowance of impaired loans by segment |
The following table presents the recorded investment, unpaid principal balance, and related allowance of impaired loans by segment as of March 31, 2018 and December 31, 2017: | | | | | | | | | | | | | | | | March 31, 2018 | | | Recorded | | Unpaid Principal | | Related | (In Thousands) | | Investment | | Balance | | Allowance | With no related allowance recorded: | | |
| | |
| | |
| Commercial, financial, and agricultural | | $ | 1,027 |
| | $ | 1,027 |
| | $ | — |
| Real estate mortgage: | | |
| | |
| | |
| Residential | | 2,001 |
| | 2,001 |
| | — |
| Commercial | | 1,500 |
| | 1,500 |
| | — |
| | | 4,528 |
| | 4,528 |
| | — |
| With an allowance recorded: | | |
| | |
| | |
| Commercial, financial, and agricultural | | 222 |
| | 222 |
| | 86 |
| Real estate mortgage: | | |
| | |
| | |
| Residential | | 2,463 |
| | 2,511 |
| | 367 |
| Commercial | | 8,068 |
| | 8,118 |
| | 1,636 |
| | | 10,753 |
| | 10,851 |
| | 2,089 |
| Total: | | |
| | |
| | |
| Commercial, financial, and agricultural | | 1,249 |
| | 1,249 |
| | 86 |
| Real estate mortgage: | | |
| | |
| | |
| Residential | | 4,464 |
| | 4,512 |
| | 367 |
| Commercial | | 9,568 |
| | 9,618 |
| | 1,636 |
| | | $ | 15,281 |
| | $ | 15,379 |
| | $ | 2,089 |
|
| | | | | | | | | | | | | | | | December 31, 2017 | | | Recorded | | Unpaid Principal | | Related | (In Thousands) | | Investment | | Balance | | Allowance | With no related allowance recorded: | | |
| | |
| | |
| Commercial, financial, and agricultural | | $ | 1,033 |
| | $ | 1,033 |
| | $ | — |
| Real estate mortgage: | | |
| | |
| | |
| Residential | | 1,428 |
| | 1,428 |
| | — |
| Commercial | | 1,465 |
| | 1,465 |
| | — |
| | | 3,926 |
| | 3,926 |
| | — |
| With an allowance recorded: | | |
| | |
| | |
| Commercial, financial, and agricultural | | 235 |
| | 235 |
| | 96 |
| Real estate mortgage: | | |
| | |
| | |
| Residential | | 2,304 |
| | 2,353 |
| | 367 |
| Commercial | | 7,981 |
| | 8,031 |
| | 1,721 |
| | | 10,520 |
| | 10,619 |
| | 2,184 |
| Total: | | |
| | |
| | |
| Commercial, financial, and agricultural | | 1,268 |
| | 1,268 |
| | 96 |
| Real estate mortgage: | | |
| | |
| | |
| Residential | | 3,732 |
| | 3,781 |
| | 367 |
| Commercial | | 9,446 |
| | 9,496 |
| | 1,721 |
| | | $ | 14,446 |
| | $ | 14,545 |
| | $ | 2,184 |
|
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Schedule of average recorded investment in impaired loans and related interest income recognized |
The following table presents the average recorded investment in impaired loans and related interest income recognized for the three months ended for March 31, 2018 and 2017: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | 2018 | | 2017 | (In Thousands) | | Average Investment in Impaired Loans | | Interest Income Recognized on an Accrual Basis on Impaired Loans | | Interest Income Recognized on a Cash Basis on Impaired Loans | | Average Investment in Impaired Loans | | Interest Income Recognized on an Accrual Basis on Impaired Loans | | Interest Income Recognized on a Cash Basis on Impaired Loans | Commercial, financial, and agricultural | | $ | 1,259 |
| | $ | 17 |
| | $ | — |
| | $ | 212 |
| | $ | 4 |
| | $ | — |
| Real estate mortgage: | | |
| | |
| | |
| | |
| | |
| | |
| Residential | | 4,098 |
| | 51 |
| | 11 |
| | 3,258 |
| | 22 |
| | 16 |
| Commercial | | 9,430 |
| | 97 |
| | 17 |
| | 11,946 |
| | 33 |
| | 10 |
| Construction | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Consumer automobile | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Other consumer installment loans | | — |
| | — |
| | — |
| | 2 |
| | — |
| | — |
| | | $ | 14,787 |
| | $ | 165 |
| | $ | 28 |
| | $ | 15,418 |
| | $ | 59 |
| | $ | 26 |
|
|
Schedule of loan modifications that are considered TDRs |
Loan modifications that are considered TDR's completed during the three months ended March 31, 2018 were as follows: | | | | | | | | | | | | | | | Three Months Ended March 31, | | | 2018 | (In Thousands, Except Number of Contracts) | | Number of Contracts | | Pre-Modification Outstanding Recorded Investment | | Post-Modification Outstanding Recorded Investment | Real estate mortgage: | | |
| | |
| | |
| Residential | | 2 |
| | $ | 102 |
| | $ | 102 |
| Commercial | | 1 |
| | 106 |
| | 106 |
| | | 3 |
| | $ | 208 |
| | $ | 208 |
|
|
Schedule of credit quality categories |
The following table presents the credit quality categories identified above as of March 31, 2018 and December 31, 2017: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2018 | | | Commercial, Financial, and Agricultural | | Real Estate Mortgages | | Consumer automobile | | Other consumer installment loans | | | (In Thousands) | | | Residential | | Commercial | | Construction | | | | Totals | Pass | | $ | 178,793 |
| | $ | 600,696 |
| | $ | 315,762 |
| | $ | 32,060 |
| | $ | 99,534 |
| | $ | 25,851 |
| | $ | 1,252,696 |
| Special Mention | | 762 |
| | 765 |
| | 7,788 |
| | — |
| | — |
| | — |
| | 9,315 |
| Substandard | | 2,467 |
| | 2,750 |
| | 12,865 |
| | 145 |
| | — |
| | — |
| | 18,227 |
| | | $ | 182,022 |
| | $ | 604,211 |
| | $ | 336,415 |
| | $ | 32,205 |
| | $ | 99,534 |
| | $ | 25,851 |
| | $ | 1,280,238 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2017 | | | Commercial, Financial, and Agricultural | | Real Estate Mortgages | | Consumer automobile | | Other consumer installment loans | | | (In Thousands) | | | Residential | | Commercial | | Construction | | | | Totals | Pass | | $ | 175,603 |
| | $ | 593,828 |
| | $ | 311,209 |
| | $ | 31,535 |
| | $ | 79,714 |
| | $ | 26,964 |
| | $ | 1,218,853 |
| Special Mention | | 738 |
| | 1,043 |
| | 7,337 |
| | — |
| | — |
| | — |
| | 9,118 |
| Substandard | | 2,544 |
| | 2,206 |
| | 13,473 |
| | 148 |
| | — |
| | — |
| | 18,371 |
| | | $ | 178,885 |
| | $ | 597,077 |
| | $ | 332,019 |
| | $ | 31,683 |
| | $ | 79,714 |
| | $ | 26,964 |
| | $ | 1,246,342 |
|
|
Schedule of activity in the allowance |
Activity in the allowance is presented for the three months ended March 31, 2018 and 2017: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2018 | | | Commercial, Financial, and Agricultural | | Real Estate Mortgages | | Consumer automobile | | Other consumer installment | | | | | (In Thousands) | | | Residential | | Commercial | | Construction | | | | Unallocated | | Totals | Beginning Balance | | $ | 1,177 |
| | $ | 5,679 |
| | $ | 4,277 |
| | $ | 155 |
| | $ | 804 |
| | $ | 271 |
| | $ | 495 |
| | $ | 12,858 |
| Charge-offs | | (33 | ) | | (51 | ) | | (55 | ) | | — |
| | (30 | ) | | (71 | ) | | — |
| | (240 | ) | Recoveries | | 7 |
| | 24 |
| | — |
| | 2 |
| | 1 |
| | 24 |
| | — |
| | 58 |
| Provision | | 221 |
| | 4 |
| | (219 | ) | | (1 | ) | | 241 |
| | 81 |
| | (167 | ) | | 160 |
| Ending Balance | | $ | 1,372 |
| | $ | 5,656 |
| | $ | 4,003 |
| | $ | 156 |
| | $ | 1,016 |
| | $ | 305 |
| | $ | 328 |
| | $ | 12,836 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2017 | | | Commercial, Financial, and Agricultural | | Real Estate Mortgages | | Consumer automobile | | Other consumer installment | | | | | (In Thousands) | | | Residential | | Commercial | | Construction | | | | Unallocated | | Totals | Beginning Balance | | $ | 1,554 |
| | $ | 5,383 |
| | $ | 4,975 |
| | $ | 178 |
| | $ | 143 |
| | $ | 273 |
| | $ | 390 |
| | $ | 12,896 |
| Charge-offs | | (213 | ) | | (98 | ) | | — |
| | — |
| | (3 | ) | | (74 | ) | | — |
| | (388 | ) | Recoveries | | 6 |
| | 30 |
| | — |
| | 3 |
| | — |
| | 28 |
| | — |
| | 67 |
| Provision | | 94 |
| | 256 |
| | (509 | ) | | 6 |
| | 62 |
| | 119 |
| | 302 |
| | 330 |
| Ending Balance | | $ | 1,441 |
| | $ | 5,571 |
| | $ | 4,466 |
| | $ | 187 |
| | $ | 202 |
| | $ | 346 |
| | $ | 692 |
| | $ | 12,905 |
|
|
Schedule of concentration of loan |
The Company has a concentration of the following to gross loans at March 31, 2018 and 2017: | | | | | | | | | | March 31, | | | 2018 | | 2017 | Owners of residential rental properties | | 15.00 | % | | 16.29 | % | Owners of commercial rental properties | | 13.16 | % | | 14.66 | % |
|
Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method |
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of March 31, 2018 and December 31, 2017: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2018 | | | Commercial, Financial, and Agricultural | | Real Estate Mortgages | | Consumer Automobile | | Other consumer installment | | Unallocated | | | (In Thousands) | | | Residential | | Commercial | | Construction | | | | | Totals | Allowance for Loan Losses: | | |
| | |
| | |
| | |
| | | | |
| | |
| | |
| Ending allowance balance attributable to loans: | | |
| | |
| | |
| | |
| | | | |
| | |
| | |
| Individually evaluated for impairment | | $ | 86 |
| | $ | 367 |
| | $ | 1,636 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 2,089 |
| Collectively evaluated for impairment | | 1,286 |
| | 5,289 |
| | 2,367 |
| | 156 |
| | 1,016 |
| | 305 |
| | 328 |
| | 10,747 |
| Total ending allowance balance | | $ | 1,372 |
| | $ | 5,656 |
| | $ | 4,003 |
| | $ | 156 |
| | $ | 1,016 |
| | $ | 305 |
| | $ | 328 |
| | $ | 12,836 |
| | | | | | | | | | | | | | | | | | Loans: | | |
| | |
| | |
| | |
| | | | |
| | |
| | |
| Individually evaluated for impairment | | $ | 1,249 |
| | $ | 4,464 |
| | $ | 9,568 |
| | $ | — |
| | $ | — |
| | $ | — |
| |
|
| | $ | 15,281 |
| Collectively evaluated for impairment | | 180,773 |
| | 599,747 |
| | 326,847 |
| | 32,205 |
| | 99,534 |
| | 25,851 |
| |
|
| | 1,264,957 |
| Total ending loans balance | | $ | 182,022 |
| | $ | 604,211 |
| | $ | 336,415 |
| | $ | 32,205 |
| | $ | 99,534 |
| | $ | 25,851 |
| |
|
| | $ | 1,280,238 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2017 | | | Commercial, Financial, and Agricultural | | Real Estate Mortgages | | Consumer Automobile | | Other consumer installment | | Unallocated | | | (In Thousands) | | | Residential | | Commercial | | Construction | | | | | Totals | Allowance for Loan Losses: | | |
| | |
| | |
| | |
| | | | |
| | |
| | |
| Ending allowance balance attributable to loans: | | |
| | |
| | |
| | |
| | | | |
| | |
| | |
| Individually evaluated for impairment | | $ | 96 |
| | $ | 367 |
| | $ | 1,721 |
| | $ | — |
| | $ | — |
| |
|
| | $ | — |
| | $ | 2,184 |
| Collectively evaluated for impairment | | 1,081 |
| | 5,312 |
| | 2,556 |
| | 155 |
| | 804 |
| | 271 |
| | 495 |
| | 10,674 |
| Total ending allowance balance | | $ | 1,177 |
| | $ | 5,679 |
| | $ | 4,277 |
| | $ | 155 |
| | $ | 804 |
| | $ | 271 |
| | $ | 495 |
| | $ | 12,858 |
| | | | | | | | | | | | | | | | | | Loans: | | |
| | |
| | |
| | |
| | | | |
| | |
| | |
| Individually evaluated for impairment | | $ | 1,268 |
| | $ | 3,732 |
| | $ | 9,446 |
| | $ | — |
| | $ | — |
| | $ | — |
| | |
| | $ | 14,446 |
| Collectively evaluated for impairment | | 177,617 |
| | 593,345 |
| | 322,573 |
| | 31,683 |
| | 79,714 |
| | 26,964 |
| | |
| | 1,231,896 |
| Total ending loans balance | | $ | 178,885 |
| | $ | 597,077 |
| | $ | 332,019 |
| | $ | 31,683 |
| | $ | 79,714 |
| | $ | 26,964 |
| | |
| | $ | 1,246,342 |
|
|