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Loans (Tables)
 6 Months Ended
Jun. 30, 2019
Receivables [Abstract]  
Components of Loans Receivable
The loan portfolio consisted of the following (in thousands):
 
 
June 30, 2019
 
December 31, 2018
Commercial, financial and agricultural
 
$
226,871

 
$
267,340

Real estate – construction
 
77,482

 
87,506

Real estate – commercial
 
409,694

 
368,449

Real estate – residential
 
126,043

 
132,435

Consumer and other
 
39,476

 
43,506

Lease financing receivable
 
471

 
549

Total loans
 
880,037

 
899,785

Allowance for loan and lease losses
 
(28,129
)
 
(17,430
)
Total loans, net
 
$
851,908

 
$
882,355
Roll Forward of Activity in Allowance for Loan Losses
A rollforward of the activity within the allowance for loan losses by loan type and recorded investment in loans as of and for the six months ended June 30, 2019 and 2018 is as follows (in thousands):
 
 
 
June 30, 2019
 
 
 
 
Real Estate
 
 
 
 
 
 
 
 
Coml, Fin, and Agric
 
Construction
 
Commercial
 
Residential
 
Consumer and other
 
Lease
financing
receivable
 
Total
Allowance for loan losses:
 
and Agric
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
10,633

 
$
140

 
$
4,913

 
$
1,156

 
$
585

 
$
3

 
$
17,430

Charge-offs
 
(1,775
)
 
—

 
—

 
—

 
(167
)
 
—

 
(1,942
)
Recoveries
 
184

 
—

 
30

 
1

 
67

 
—

 
282

Provision
 
11,654

 
402

 
557

 
(215
)
 
(36
)
 
(3
)
 
12,359

Ending balance
 
$
20,696

 
$
542

 
$
5,500

 
$
942

 
$
449

 
$
—

 
$
28,129

Ending balance: individually evaluated for impairment
 
$
10,680

 
$
—

 
$
74

 
$
—

 
$
—

 
$
—

 
$
10,754

Ending balance: collectively evaluated for impairment
 
$
10,016

 
$
542

 
$
5,426

 
$
942

 
$
449

 
$
—

 
$
17,375

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Ending balance
 
$
226,871

 
$
77,482

 
$
409,694

 
$
126,043

 
$
39,476

 
$
471

 
$
880,037

Ending balance: individually evaluated for impairment
 
$
15,934

 
$
424

 
$
4,807

 
$
—

 
$
—

 
$
—

 
$
21,165

Ending balance: collectively evaluated for impairment
 
$
210,937

 
$
77,058

 
$
404,887

 
$
126,043

 
$
39,476

 
$
471

 
$
858,872

 
 
June 30, 2018
 
 
 
 
Real Estate
 
 
 
 
 
 
 
 
Coml, Fin, and Agric
 
Construction
 
Commercial
 
Residential
 
Consumer and other
 
Lease
financing
receivable
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
20,577

 
$
596

 
$
3,918

 
$
837

 
$
957

 
$
3

 
$
26,888

Charge-offs
 
(1,524
)
 
(2
)
 
(86
)
 
(3
)
 
(221
)
 
—

 
(1,836
)
Recoveries
 
276

 
—

 
6

 
1

 
36

 
—

 
319

Provision
 
(264
)
 
159

 
(105
)
 
64

 
146

 
—

 
—

Ending balance
 
$
19,065

 
$
753

 
$
3,733

 
$
899

 
$
918

 
$
3

 
$
25,371

Ending balance: individually evaluated for impairment
 
$
5,968

 
$
94

 
$
76

 
$
20

 
$
6

 
$
—

 
$
6,164

Ending balance: collectively evaluated for impairment
 
$
13,097

 
$
659

 
$
3,657

 
$
879

 
$
912

 
$
3

 
$
19,207

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Ending balance
 
$
401,048

 
$
94,679

 
$
444,277

 
$
145,671

 
$
50,888

 
$
692

 
$
1,137,255

Ending balance: individually evaluated for impairment
 
$
55,092

 
$
192

 
$
26,005

 
$
2,088

 
$
50

 
$
—

 
$
83,427

Ending balance: collectively evaluated for impairment
 
$
345,956

 
$
94,487

 
$
418,272

 
$
143,583

 
$
50,838

 
$
692

 
$
1,053,828
Age Analysis of Past Due Loans by Class of Loans
An age analysis of past due loans (including both accruing and non-accruing loans) is as follows (in thousands):
 
 
June 30, 2019
 
 
30-59
Days
Past Due
 
60-89
Days
Past
Due
 
Greater
than 90
Days
Past Due
 
Total
Past
Due
 
Current
 
Total Loans
 
Loans >90 Days Past Due and Still Accruing
Commercial, financial and agricultural
 
$
559

 
$
11,506

 
$
3,726

 
$
15,791

 
$
211,080

 
$
226,871

 
$
—

Real estate – construction
 
4,097

 
—

 
262

 
4,359

 
73,123

 
77,482

 
—

Real estate – commercial
 
2,044

 
—

 
1,455

 
3,499

 
406,195

 
409,694

 
—

Real estate – residential
 
617

 
73

 
1,108

 
1,798

 
124,245

 
126,043

 
—

Consumer and other
 
129

 
60

 
27

 
216

 
39,260

 
39,476

 
—

Lease financing receivable
 
—

 
—

 
—

 
—

 
471

 
471

 
—

 
 
$
7,446

 
$
11,639

 
$
6,578

 
$
25,663

 
$
854,374

 
$
880,037

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
30-59
Days
Past Due
 
60-89
Days
Past
Due
 
Greater
than 90
Days
Past Due
 
Total
Past
Due
 
Current
 
Total Loans
 
Loans >90 Days Past Due and Still Accruing

Commercial, financial and agricultural
 
$
385

 
$
902

 
$
2,173

 
$
3,460

 
$
263,880

 
$
267,340

 
$
—

Real estate – construction
 
47

 
—

 
117

 
164

 
87,342

 
87,506

 
—

Real estate – commercial
 
435

 
—

 
771

 
1,206

 
367,243

 
368,449

 
—

Real estate – residential
 
695

 
31

 
1,407

 
2,133

 
130,302

 
132,435

 
—

Consumer and other
 
176

 
28

 
56

 
260

 
43,246

 
43,506

 
—

Lease financing receivable
 
—

 
—

 
—

 
—

 
549

 
549

 
—

 
 
$
1,738

 
$
961

 
$
4,524

 
$
7,223

 
$
892,562

 
$
899,785

 
$
—
Schedule of Loans on Nonaccrual Status
Non-accrual loans are as follows (in thousands):
 
 
June 30, 2019
 
December 31, 2018
Commercial, financial, and agricultural
 
$
15,630

 
$
3,599

Real estate - construction
 
468

 
278

Real estate - commercial
 
4,854

 
2,977

Real estate - residential
 
2,308

 
2,008

Consumer and other
 
27

 
58

 
 
$
23,287

 
$
8,920
Schedule of Loans Evaluated for Impairment
The following table presents loans that are individually evaluated for impairment (in thousands). Interest income recognized represents interest on accruing loans modified in a troubled debt restructuring (TDR).
 
 
June 30, 2019
 
December 31, 2018
 
 
Recorded
Investment(1)
 
Unpaid Principal Balance
 
Related
Allowance (1)
 
Recorded
Investment (1)
 
Unpaid Principal Balance
 
Related
Allowance (1)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, and agricultural
 
$
3,589

 
$
5,278

 
$
—

 
$
2,924

 
$
3,011

 
$
—

Real estate - construction
 
424

 
424

 
—

 
117

 
117

 
—

Real estate - commercial
 
4,676

 
5,835

 
—

 
3,395

 
3,395

 
—

Real estate - residential
 
—

 
—

 
—

 
—

 
 
 
—

Consumer and other
 
—

 
—

 
—

 
—

 
—

 
—

Subtotal:
 
8,689

 
11,537

 
—

 
6,436

 
6,523

 
—

With an allowance recorded:
 
 

 
 

 
 

 
 

 
 

 
 

Commercial, financial, and agricultural
 
12,345

 
12,488

 
10,680

 
1,025

 
1,025

 
470

Real estate - construction
 
—

 
—

 
—

 
131

 
131

 
4

Real estate - commercial
 
131

 
131

 
74

 
—

 
—

 
—

Real estate - residential
 
—

 
—

 
—

 
—

 
—

 
—

   Consumer and other
 
—

 
—

 
—

 
—

 
—

 
—

Subtotal:
 
12,476

 
12,619

 
10,754

 
1,156

 
1,156

 
474

Total impaired loans
 
21,165

 
24,156

 
10,754

 
7,592

 
7,679

 
474


(1) Troubled debt restructurings totaling $1.6 million and $1.3 million are included in the recorded investment of impaired loans as of June 30, 2019 and December 31, 2018.

The average balances of impaired loans and income recognized on impaired loans while they were considered impaired are presented below for the periods indicated (in thousands). 
 
June 30, 2019
 
June 30, 2018
 
Average Recorded Investment
 
Interest Income Recognized During Impairment
 
Average Recorded Investment
 
Interest Income Recognized During Impairment
Commercial, financial, and agricultural
$
16,396

 
$
—

 
$
46,935

 
$
18

Real estate - construction
451

 
—

 
129

 
—

Real estate - commercial
7,126

 
—

 
18,567

 
—

Real estate - residential
—

 
—

 
1,353

 
—

   Consumer and other
—

 
—

 
—

 
—

Total
$
23,973

 
$
—

 
$
66,984

 
$
18
Credit Quality Indicators by Class of Loans
The following tables present the classes of loans by risk rating (in thousands):
 
 
 
  
 
Special
 
 
 
 
 
 
 
 
Pass
 
Mention
 
Substandard
 
Doubtful
 
Total
June 30, 2019
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural
 
$
194,672

 
$
10,727

 
$
21,472

 
$
—

 
$
226,871

Real estate – construction
 
70,963

 
1,463

 
5,047

 
9

 
77,482

Real estate – commercial
 
366,939

 
21,554

 
21,201

 
—

 
409,694

Real estate – residential
 
116,599

 
1,581

 
7,176

 
687

 
126,043

Consumer and other
 
39,399

 
—

 
64

 
13

 
39,476

Lease financing receivable
 
471

 
—

 
—

 
—

 
471

Total loans
 
$
789,043

 
$
35,325

 
$
54,960

 
$
709

 
$
880,037

 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural
 
$
240,232

 
$
20,259

 
$
6,849

 
$
—

 
$
267,340

Real estate – construction
 
83,240

 
3,910

 
356

 
—

 
87,506

Real estate – commercial
 
329,213

 
23,475

 
15,761

 
—

 
368,449

Real estate – residential
 
125,984

 
1,955

 
4,496

 
—

 
132,435

Consumer and other
 
43,416

 
5

 
85

 
—

 
43,506

Lease financing receivable
 
549

 
—

 
—

 
—

 
549

Total loans
 
$
822,634

 
$
49,604

 
$
27,547

 
$
—

 
$
899,785
Schedule of Modified Troubled Debt Restructurings During the Period
The following tables present information about TDRs that were modified during the periods presented by portfolio segment (in thousands):
 
 
Three months ended
 
 
June 30, 2019
 
June 30, 2018
 
 
Number of loans
 
Pre-modification recorded investment
 
Number of loans
 
Pre-modification recorded investment
Commercial, financial and agricultural (1)
 
—

 
$
—

 
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
Six months ended
 
 
June 30, 2019
 
June 30, 2018
 
 
Number of loans
 
Pre-modification recorded investment
 
Number of loans
 
Pre-modification recorded investment
Commercial, financial and agricultural (1)
 
3

 
$
1,983

 
—

 
$
—

(1) The pre-modification and post-modification recorded investment amount represent the recorded investment on the date of the loan modification. Since the modification of these loans were payment modifications, not principal reductions, the pre-modification and post-modification recorded investment amount is the same.