LOANS HELD FOR INVESTMENT AND ALLOWANCE FOR CREDIT LOSSES (Tables)

3 Months Ended

Mar. 31, 2024

Loans Held for Investment and Allowance for Credit Losses [Abstract]

Composition of the loan portfolio

(Dollars in Thousands)

March 31, 2024

December 31, 2023

Commercial, Financial and Agricultural

$

218,298

$

225,190

Real Estate – Construction

202,692

196,091

Real Estate – Commercial Mortgage

823,690

825,456

Real Estate – Residential

(1)

1,016,580

1,004,219

Real Estate – Home Equity

214,617

210,920

Consumer

(2)

255,295

272,042

Loans Held For Investment, Net of Unearned Income

$

2,731,172

$

2,733,918

(1)

Includes loans in process balances of $

4.4

 million and $

3.2

 million at March 31, 2024 and December 31, 2023, respectively.

(2)

Includes overdraft balances of $

1.1

 million and $

1.0

 million at March 31, 2024 and December 31, 2023, respectively.

Activity in allowance for loan losses by portfolio class

Commercial,

Real Estate

Financial, 

Real Estate

Commercial 

Real Estate

Real Estate

(Dollars in Thousands)

Agricultural

Construction

Mortgage

Residential

Home Equity

Consumer

Total

Three Months Ended

March 31, 2024

Beginning Balance

$

1,482

$

2,502

$

5,782

$

15,056

$

1,818

$

3,301

$

29,941

Provision for Credit Losses

284

(633)

(39)

(248)

130

1,388

882

Charge-Offs

(282)

-

-

(17)

(76)

(2,188)

(2,563)

Recoveries 

41

-

204

37

24

763

1,069

Net (Charge-Offs) Recoveries

(241)

-

204

20

(52)

(1,425)

(1,494)

Ending Balance

$

1,525

$

1,869

$

5,947

$

14,828

$

1,896

$

3,264

$

29,329

Three Months Ended

March 31, 2023

Beginning Balance

$

1,506

$

2,654

$

4,815

$

10,741

$

1,864

$

3,488

$

25,068

Provision for Credit Losses

78

704

7

1,152

(10)

1,329

3,260

Charge-Offs

(164)

-

(120)

-

-

(2,366)

(2,650)

Recoveries 

95

1

8

57

25

944

1,130

Net (Charge-Offs) Recoveries

(69)

1

(112)

57

25

(1,422)

(1,520)

Ending Balance

$

1,515

$

3,359

$

4,710

$

11,950

$

1,879

$

3,395

$

26,808

Loan Portfolio Aging

30-59 

60-89 

90 + 

Total

Total

Nonaccrual

Total

(Dollars in Thousands)

DPD

DPD

DPD

Past Due

Current

Loans

Loans

March 31, 2024

Commercial, Financial and Agricultural

$

567

$

68

$

-

$

635

$

217,357

$

306

$

218,298

Real Estate – Construction

-

-

-

-

202,370

322

202,692

Real Estate – Commercial Mortgage

879

-

-

879

821,379

1,432

823,690

Real Estate – Residential

1,040

2

-

1,042

1,012,210

3,328

1,016,580

Real Estate – Home Equity

101

-

-

101

213,766

750

214,617

Consumer

2,412

323

-

2,735

251,900

660

255,295

Total

$

4,999

$

393

$

-

$

5,392

$

2,718,982

$

6,798

$

2,731,172

December 31, 2023

Commercial, Financial and Agricultural

$

311

$

105

$

-

$

416

$

224,463

$

311

$

225,190

Real Estate – Construction

206

-

-

206

195,563

322

196,091

Real Estate – Commercial Mortgage

794

-

-

794

823,753

909

825,456

Real Estate – Residential

670

34

-

704

1,000,525

2,990

1,004,219

Real Estate – Home Equity

268

-

-

268

209,653

999

210,920

Consumer

3,693

774

-

4,467

266,864

711

272,042

Total 

$

5,942

$

913

$

-

$

6,855

$

2,720,821

$

6,242

$

2,733,918

Recorded investment in nonaccrual and past due loans

March 31, 2024

December 31, 2023

Nonaccrual

Nonaccrual

Nonaccrual

Nonaccrual

With No

With

90 + Days

With No

With

90 + Days

(Dollars in Thousands)

ACL

ACL

Still Accruing

ACL

ACL

Still Accruing

Commercial, Financial and Agricultural

$

-

$

306

$

-

$

-

$

311

$

-

Real Estate – Construction

-

322

-

-

322

-

Real Estate – Commercial Mortgage

1,295

137

-

781

128

-

Real Estate – Residential

2,102

1,226

-

1,705

1,285

-

Real Estate – Home Equity

323

427

-

-

999

-

Consumer

-

660

-

-

711

-

Total Nonaccrual Loans

$

3,720

$

3,078

$

-

$

2,486

$

3,756

$

-

Collateral-dependent loans

March 31, 2024

December 31, 2023

Real Estate

Non Real Estate

Real Estate

Non Real Estate

(Dollars in Thousands)

Secured

Secured

Secured

Secured

Commercial, Financial and Agricultural

$

-

$

30

$

-

$

30

Real Estate – Construction

275

-

275

-

Real Estate – Commercial Mortgage

1,295

-

1,296

-

Real Estate – Residential

2,102

-

1,706

-

Real Estate – Home Equity

323

-

-

-

Consumer

-

-

-

-

Total Collateral Dependent Loans

$

3,995

$

30

$

3,277

$

30

Loans held for investment by years of origination

(Dollars in Thousands)

Term Loans by Origination Year

Revolving

As of March 31, 2024

2024

2023

2022

2021

2020

Prior

Loans

Total

Commercial, Financial,

Agriculture:

Pass

$

8,690

$

54,213

$

60,831

$

25,989

$

9,022

$

13,831

$

43,073

$

215,649

Special Mention

224

153

542

305

9

5

698

1,936

Substandard

-

158

89

73

90

142

161

713

Total

$

8,914

$

54,524

$

61,462

$

26,367

$

9,121

$

13,978

$

43,932

$

218,298

Current-Period Gross

Writeoffs

$

-

$

16

$

167

$

73

$

6

$

-

$

20

$

282

Real Estate -

Construction:

Pass

$

9,733

$

121,495

$

52,078

$

12,036

$

-

$

187

$

4,833

$

200,362

Special Mention

-

668

520

290

210

-

-

1,688

Substandard

-

-

74

568

-

-

-

642

Total

$

9,733

$

122,163

$

52,672

$

12,894

$

210

$

187

$

4,833

$

202,692

Real Estate -

Commercial Mortgage:

Pass

$

17,060

$

114,391

$

271,591

$

132,081

$

98,214

$

146,120

$

17,344

$

796,801

Special Mention

-

5,573

5,633

-

795

1,995

-

13,996

Substandard

-

-

1,204

6,599

2,271

2,120

699

12,893

Total

$

17,060

$

119,964

$

278,428

$

138,680

$

101,280

$

150,235

$

18,043

$

823,690

Real Estate - Residential:

Pass

$

38,629

$

358,059

$

390,522

$

80,624

$

35,045

$

95,003

$

8,509

$

1,006,391

Special Mention

-

267

88

82

494

163

-

1,094

Substandard

-

-

1,512

2,526

1,028

4,029

-

9,095

Total 

$

38,629

$

358,326

$

392,122

$

83,232

$

36,567

$

99,195

$

8,509

$

1,016,580

Current-Period Gross

Writeoffs

$

-

$

13

$

-

$

-

$

-

$

4

$

-

$

17

Real Estate - Home

Equity:

Performing

$

11

$

507

$

47

$

130

$

10

$

2,388

$

210,775

$

213,868

Nonperforming

-

-

-

-

-

-

749

749

Total 

$

11

$

507

$

47

$

130

$

10

$

2,388

$

211,524

$

214,617

Current-Period Gross

Writeoffs

$

-

$

-

$

-

$

-

$

-

$

-

$

76

$

76

Consumer:

Performing

$

11,402

$

63,285

$

80,641

$

63,277

$

18,244

$

10,864

$

6,304

$

254,017

Nonperforming

-

151

291

84

69

44

639

1,278

Total

$

11,402

$

63,436

$

80,932

$

63,361

$

18,313

$

10,908

$

6,943

$

255,295

Current-Period Gross

Writeoffs

$

638

$

418

$

697

$

231

$

92

$

35

$

77

$

2,188

(Dollars in Thousands)

Term Loans by Origination Year

Revolving

As of December 31, 2023

2023

2022

2021

2020

2019

Prior

Loans

Total

Commercial, Financial,

Agriculture:

Pass

$

57,320

$

66,671

$

28,933

$

10,610

$

7,758

$

7,502

$

44,350

$

223,144

Special Mention

168

608

356

10

9

-

76

1,227

Substandard

164

177

98

77

20

122

161

819

Total

$

57,652

$

67,456

$

29,387

$

10,697

$

7,787

$

7,624

$

44,587

$

225,190

Current-Period Gross

Writeoffs

$

6

$

252

$

65

$

31

$

41

$

19

$

97

$

511

Real Estate - Construction:

Pass

$

101,684

$

68,265

$

18,181

$

-

$

188

$

-

$

4,617

$

192,935

Special Mention

631

500

539

212

-

-

-

1,882

Substandard

-

47

576

651

-

-

-

1,274

Total

$

102,315

$

68,812

$

19,296

$

863

$

188

$

-

$

4,617

$

196,091

Real Estate - Commercial

Mortgage:

Pass

$

117,840

$

275,079

$

135,663

$

101,210

$

43,878

$

109,878

$

18,367

$

801,915

Special Mention

3,266

5,684

-

229

1,358

573

-

11,110

Substandard

-

1,226

6,695

1,637

605

1,574

694

12,431

Total

$

121,106

$

281,989

$

142,358

$

103,076

$

45,841

$

112,025

$

19,061

$

825,456

Current-Period Gross

Writeoffs

$

-

$

-

$

-

$

-

$

-

$

120

$

-

$

120

Real Estate - Residential:

Pass

$

372,394

$

400,437

$

83,108

$

35,879

$

24,848

$

68,685

$

8,252

$

993,603

Special Mention

268

89

83

502

-

313

-

1,255

Substandard

570

1,110

1,906

1,626

1,007

3,142

-

9,361

Total 

$

373,232

$

401,636

$

85,097

$

38,007

$

25,855

$

72,140

$

8,252

$

1,004,219

Current-Period Gross

Writeoffs

$

-

$

-

$

79

$

-

$

-

$

-

$

-

$

79

Real Estate - Home

Equity:

Performing

$

890

$

48

$

127

$

11

$

386

$

950

$

207,509

$

209,921

Nonperforming

-

-

-

-

-

-

999

999

Total 

$

890

$

48

$

127

$

11

$

386

$

950

$

208,508

$

210,920

Current-Period Gross

Writeoffs

$

-

$

-

$

-

$

-

$

-

$

-

$

39

$

39

Consumer:

Performing

$

68,496

$

90,031

$

70,882

$

21,314

$

10,210

$

4,258

$

5,431

$

270,622

Nonperforming

293

355

58

4

-

-

710

1,420

Total

$

68,789

$

90,386

$

70,940

$

21,318

$

10,210

$

4,258

$

6,141

$

272,042

Current-Period Gross

Writeoffs

$

3,137

$

3,224

$

1,362

$

329

$

230

$

99

$

162

$

8,543