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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

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