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Credit Quality of Loans and Allowance for Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2015
Credit Quality of Loans and Allowance for Loan Losses [Abstract]  
Components of Loans Receivable
The loan portfolio consisted of the following (in thousands):
 
  
March 31, 2015
  
December 31, 2014
 
Commercial, financial and agricultural
 
$
484,508
  
$
467,147
 
Real estate - construction
  
76,964
   
68,577
 
Real estate – commercial
  
471,737
   
467,172
 
Real estate – residential
  
153,647
   
154,602
 
Installment loans to individuals
  
115,284
   
119,328
 
Lease financing receivable
  
6,350
   
4,857
 
Other
  
2,439
   
2,748
 
   
1,310,929
   
1,284,431
 
Less allowance for loan losses
  
(16,060
)
  
(11,226
)
  
$
1,294,869
  
$
1,273,205
 
Allowance for Loan Losses and Recorded Investment in Loans
A rollforward of the activity within the allowance for loan losses by loan type and recorded investment in loans for the three months ended March 31, 2015 and 2014 is as follows (in thousands):
 
  
March 31, 2015
 
    
Real Estate
         
  
Coml, Fin,
and Agric
  
Construction
  
Commercial
  
Residential
  
Installment
loans to
individuals
  
Lease
financing
receivable
  
Other
  
Total
 
Allowance for loan losses:
                
Beginning balance
 
$
5,729
  
$
954
  
$
2,402
  
$
810
  
$
1,311
  
$
16
  
$
4
  
$
11,226
 
Charge-offs
  
(1,001
)
  
(6
)
  
-
   
(2
)
  
(323
)
  
-
   
-
   
(1,332
)
Recoveries
  
132
   
-
   
6
   
2
   
26
   
-
   
-
   
166
 
Provision
  
5,523
   
3
   
202
   
7
   
260
   
4
   
1
   
6,000
 
Ending balance
 
$
10,383
  
$
951
  
$
2,610
  
$
817
  
$
1,274
  
$
20
  
$
5
  
$
16,060
 
Ending balance: individually evaluated for impairment
 
$
737
  
$
-
  
$
645
  
$
57
  
$
206
  
$
-
  
$
-
  
$
1,645
 
Ending balance: collectively evaluated for impairment
 
$
9,646
  
$
951
  
$
1,965
  
$
760
  
$
1,068
  
$
20
  
$
5
  
$
14,415
 
                                 
Loans:
                                
Ending balance
 
$
484,508
  
$
76,964
  
$
471,737
  
$
153,647
  
$
115,284
  
$
6,350
  
$
2,439
  
$
1,310,929
 
Ending balance: individually evaluated for impairment
 
$
2,427
  
$
477
  
$
7,977
  
$
1,471
  
$
405
  
$
-
  
$
-
  
$
12,757
 
Ending balance: collectively evaluated for impairment
 
$
482,081
  
$
76,487
  
$
463,106
  
$
152,087
  
$
114,879
  
$
6,350
  
$
2,439
  
$
1,297,429
 
Ending balance: loans acquired with deteriorated credit quality
 
$
-
  
$
-
  
$
654
  
$
89
  
$
-
  
$
-
  
$
-
  
$
743
 
 
  
March 31, 2014
 
    
Real Estate
         
  
Coml, Fin,
and Agric
  
Construction
  
Commercial
  
Residential
  
Installment
loans to
individuals
  
Lease
financing
receivable
  
Other
  
Total
 
Allowance for loan losses:
                
Beginning balance
 
$
3,906
  
$
1,046
  
$
1,389
  
$
1,141
  
$
1,273
  
$
21
  
$
3
  
$
8,779
 
Charge-offs
  
(431
)
  
(1
)
  
(13
)
  
(84
)
  
(159
)
  
-
   
-
   
(688
)
Recoveries
  
14
   
-
   
37
   
8
   
65
   
-
   
-
   
124
 
Provision
  
749
   
36
   
8
   
(172
)
  
(69
)
  
(2
)
  
-
   
550
 
Ending balance
 
$
4,238
  
$
1,081
  
$
1,421
  
$
893
  
$
1,110
  
$
19
  
$
3
  
$
8,765
 
Ending balance: individually evaluated for impairment
 
$
86
  
$
3
  
$
57
  
$
71
  
$
131
  
$
-
  
$
-
  
$
348
 
Ending balance: collectively evaluated for impairment
 
$
4,152
  
$
1,078
  
$
1,364
  
$
822
  
$
979
  
$
19
  
$
3
  
$
8,417
 
                                 
Loans:
                                
Ending balance
 
$
435,523
  
$
78,988
  
$
408,546
  
$
150,551
  
$
101,869
  
$
5,102
  
$
3,610
  
$
1,184,189
 
Ending balance: individually evaluated for impairment
 
$
2,273
  
$
154
  
$
3,195
  
$
951
  
$
292
  
$
-
  
$
-
  
$
6,865
 
Ending balance: collectively evaluated for impairment
 
$
433,250
  
$
78,834
  
$
404,652
  
$
149,442
  
$
101,577
  
$
5,102
  
$
3,610
  
$
1,176,467
 
Ending balance: loans acquired with deteriorated credit quality
 
$
-
  
$
-
  
$
699
  
$
158
  
$
-
  
$
-
  
$
-
  
$
857
 
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):
 
  
March 31, 2015
 
               
  
30-59
Days
Past Due
  
60-89
Days
Past
Due
  
Greater
than 90
Days
Past Due
  
Total
Past
Due
  
Current
  
Total Loans
  
Recorded
Investment
> 90 days
 and
Accruing
 
Commercial, financial, and agricultural
 
$
2,767
  
$
761
  
$
2,306
  
$
5,834
  
$
478,674
  
$
484,508
  
$
3
 
Commercial real estate - construction
  
17
   
-
   
13
   
30
   
50,164
   
50,194
   
-
 
Commercial real estate - other
  
12,643
   
639
   
4,372
   
17,654
   
454,083
   
471,737
   
-
 
Residential - construction
  
-
   
-
   
433
   
433
   
26,337
   
26,770
   
-
 
Residential - prime
  
2,226
   
225
   
1,010
   
3,461
   
150,186
   
153,647
   
-
 
Consumer - credit card
  
9
   
13
   
-
   
22
   
5,664
   
5,686
   
-
 
Consumer - other
  
603
   
106
   
321
   
1,030
   
108,568
   
109,598
   
37
 
Lease financing receivable
  
-
   
-
   
-
   
-
   
6,350
   
6,350
   
-
 
Other loans
  
62
   
-
   
-
   
62
   
2,377
   
2,439
   
-
 
  
$
18,327
  
$
1,744
  
$
8,455
  
$
28,526
  
$
1,282,403
  
$
1,310,929
  
$
40
 
                             
  
December 31, 2014
 
  
30-59
Days
Past Due
  
60-89
Days
Past
Due
  
Greater
than 90
Days
Past Due
  
Total
Past
Due
  
Current
  
Total Loans
  
Recorded
Investment
> 90 days
and
Accruing
 
Commercial, financial, and agricultural
 
$
2,179
  
$
654
  
$
2,556
  
$
5,389
  
$
461,758
  
$
467,147
  
$
26
 
Commercial real estate - construction
  
15
   
-
   
105
   
120
   
43,390
   
43,510
   
97
 
Commercial real estate - other
  
4,989
   
270
   
2,464
   
7,723
   
459,449
   
467,172
   
-
 
Residential - construction
  
431
   
-
   
-
   
431
   
24,636
   
25,067
   
-
 
Residential - prime
  
1,843
   
523
   
704
   
3,070
   
151,532
   
154,602
   
-
 
Consumer - credit card
  
5
   
19
   
18
   
42
   
5,970
   
6,012
   
18
 
Consumer - other
  
671
   
392
   
107
   
1,170
   
112,146
   
113,316
   
46
 
Lease financing receivable
  
-
   
-
   
-
   
-
   
4,857
   
4,857
   
-
 
Other loans
  
134
   
-
   
-
   
134
   
2,614
   
2,748
   
-
 
  
$
10,267
  
$
1,858
  
$
5,954
  
$
18,079
  
$
1,266,352
  
$
1,284,431
  
$
187
 
Loans on Nonaccrual Status
Non-accrual loans are as follows (in thousands):
 
  
March 31, 2015
  
December 31, 2014
 
Commercial, financial, and agricultural
 
$
2,413
  
$
2,642
 
Commercial real estate – construction
  
43
   
54
 
Commercial real estate - other
  
8,012
   
6,429
 
Residential - construction
  
433
   
-
 
Residential - prime
  
1,585
   
1,194
 
Consumer - credit card
  
-
   
-
 
Consumer - other
  
408
   
382
 
Lease financing receivable
  
-
   
-
 
Other
  
-
   
-
 
  
$
12,894
  
$
10,701
 
Impaired Loans by Class of Loans
Loans that are individually evaluated for impairment are as follows (in thousands):
 
  
March 31, 2015
 
  
Recorded
Investment
  
Unpaid
Principal
 Balance
  
Related
Allowance
  
Average
Recorded
Investment
  
Interest
 Income
Recognized
 
With no related allowance recorded:
          
Commercial, financial, and agricultural
 
$
407
  
$
490
  
$
-
  
$
422
  
$
-
 
Commercial real estate – construction
  
43
   
43
   
-
   
49
   
-
 
Commercial real estate – other
  
3,852
   
3,852
   
-
   
2,886
   
12
 
Residential – prime
  
1,057
   
1,057
   
-
   
800
   
5
 
Residential – construction
  
434
   
434
   
-
   
217
   
-
 
Consumer – other
  
56
   
56
   
-
   
67
   
-
 
Subtotal:
  
5,849
   
5,932
   
-
   
4,441
   
17
 
With an allowance recorded:
                    
Commercial, financial, and agricultural
  
2,020
   
2,134
   
737
   
2,119
   
-
 
Commercial real estate – other
  
4,125
   
4,125
   
645
   
4,296
   
-
 
Residential – prime
  
414
   
434
   
57
   
471
   
-
 
Consumer – other
  
349
   
363
   
206
   
324
   
1
 
Subtotal:
  
6,908
   
7,056
   
1,645
   
7,210
   
1
 
Totals:
                    
Commercial
  
10,447
   
10,644
   
1,382
   
9,772
   
12
 
Residential
  
1,905
   
1,925
   
57
   
1,488
   
5
 
Consumer
  
405
   
419
   
206
   
391
   
1
 
Grand total:
 
$
12,757
  
$
12,988
  
$
1,645
  
$
11,651
  
$
18
 
  
December 31, 2014
 
  
Recorded
Investment
  
Unpaid
Principal
Balance
  
Related
Allowance
  
Average
Recorded
Investment
  
Interest
Income
Recognized
 
With no related allowance recorded:
          
Commercial, financial, and agricultural
 
$
438
  
$
521
  
$
-
  
$
554
  
$
-
 
Commercial real estate – construction
  
54
   
54
   
-
   
58
   
-
 
Commercial real estate – other
  
1,921
   
1,921
   
-
   
1,885
   
17
 
Residential – prime
  
543
   
543
   
-
   
534
   
15
 
Consumer – other
  
78
   
78
   
-
   
72
   
-
 
Subtotal:
  
3,034
   
3,117
   
-
   
3,103
   
32
 
With an allowance recorded:
                    
Commercial, financial, and agricultural
  
2,218
   
2,333
   
1,010
   
1,394
   
35
 
Commercial real estate – construction
  
-
   
-
   
-
   
19
   
-
 
Commercial real estate – other
  
4,467
   
4,467
   
1,484
   
2,416
   
220
 
Residential – prime
  
529
   
548
   
68
   
452
   
3
 
Consumer – other
  
299
   
313
   
179
   
252
   
4
 
Subtotal:
  
7,513
   
7,661
   
2,741
   
4,533
   
262
 
Totals:
                    
Commercial
  
9,098
   
9,296
   
2,494
   
6,326
   
272
 
Residential
  
1,072
   
1,091
   
68
   
986
   
18
 
Consumer
  
377
   
391
   
179
   
324
   
4
 
Grand total:
 
$
10,547
  
$
10,778
  
$
2,741
  
$
7,636
  
$
294
 
Credit Quality Indicators by Class of Loans
The following tables present the classes of loans by risk rating (in thousands):
 
    
March 31, 2015
 
Commercial Credit Exposure
           
Credit Risk Profile by
Creditworthiness Category
           
  
Commercial,
financial, and
agricultural
  
Commercial
real estate -
construction
  
Commercial
real estate -
other
  
Total
  
% of Total
 
Pass
  
$
442,711
  
$
50,022
  
$
435,848
  
$
928,581
   
92.26
%
Special mention
   
5,749
   
129
   
5,865
   
11,743
   
1.17
%
Substandard
   
35,638
   
43
   
30,024
   
65,705
   
6.53
%
Doubtful
   
410
   
-
   
-
   
410
   
0.04
%
  
$
484,508
  
$
50,194
  
$
471,737
  
$
1,006,439
   
100.00
%
                     
Residential Credit Exposure
                     
Credit Risk Profile by
Creditworthiness Category
                     
       
Residential -
construction
  
Residential
- prime
  
Total
  
% of Total
 
Pass
      
$
26,337
  
$
149,498
  
$
175,835
   
97.46
%
Special mention
       
-
   
1,180
   
1,180
   
0.65
%
Substandard
       
433
   
2,969
   
3,402
   
1.89
%
      
$
26,770
  
$
153,647
  
$
180,417
   
100.00
%
                     
Consumer and Commercial Credit
Exposure
                     
Credit Risk Profile Based on
Payment Activity
                     
Consumer -
credit card
 
Consumer -
other
  
Lease
financing
receivable
  
Other
  
Total
  
% of Total
 
Performing
$
5,684
 
$
109,157
  
$
6,350
  
$
2,439
  
$
123,630
   
99.64
%
Nonperforming
  
2
  
441
   
-
   
-
   
443
   
0.36
%
 $
5,686
 
$
109,598
  
$
6,350
  
$
2,439
  
$
124,073
   
100.00
%

 
December 31, 2014
 
Commercial Credit Exposure
           
Credit Risk Profile by
Creditworthiness Category
           
  
Commercial,
financial, and
agricultural
  
Commercial
real estate -
construction
  
Commercial
real estate -
other
  
Total
  
Percentage
of Total
 
Pass
  
$
456,221
  
$
43,320
  
$
440,281
  
$
939,822
   
96.11
%
Special mention
   
4,861
   
132
   
7,120
   
12,113
   
1.24
%
Substandard
   
5,541
   
58
   
19,771
   
25,370
   
2.60
%
Doubtful
   
524
   
-
   
-
   
524
   
0.05
%
  
$
467,147
  
$
43,510
  
$
467,172
  
$
977,829
   
100.00
%
                     
Residential Credit Exposure
                     
Credit Risk Profile by
Creditworthiness Category
                     
      
Residential -
construction
  
Residential
- prime
  
Total
  
Percentage
of Total
 
Pass
      
$
25,067
  
$
150,664
  
$
175,731
   
97.81
%
Special mention
       
-
   
1,184
   
1,184
   
0.66
%
Substandard
       
-
   
2,754
   
2,754
   
1.53
%
      
$
25,067
  
$
154,602
  
$
179,669
   
100.00
%
                     
Consumer and Commercial Credit
Exposure
                     
Credit Risk Profile Based on
Payment Activity
                     
Consumer -
credit card
 
Consumer -
other
  
Lease
financing
receivable
  
Other
  
Total
  
Percentage
of Total
 
Performing
$
 5,995
 
$
112,893
  
$
4,857
  
$
2,748
  
$
126,493
   
99.65
%
Nonperforming
  
17
  
423
   
-
   
-
   
440
   
0.35
%
$
6,012
 
$
113,316
  
$
4,857
  
$
2,748
  
$
126,933
   
100.00
%
Modifications by Class of Loans
Information about the Company’s TDRs is as follows (in thousands):
 
  
March 31, 2015
 
  
Current
  
Past Due
Greater
Than 30
Days
  
Nonaccrual
TDRs
  
Total
TDRs
 
Commercial, financial and agricultural
 
$
20
  
$
-
  
$
234
  
$
254
 
Real estate - commercial
  
153
   
-
   
-
   
153
 
  
$
173
  
$
-
  
$
234
  
$
407
 
 
  
December 31, 2014
 
  
Current
  
Past Due
Greater
Than 30
Days
  
Nonaccrual
TDRs
  
Total
TDRs
 
Commercial, financial and agricultural
 
$
21
  
$
-
  
$
234
  
$
255
 
Real estate - commercial
  
155
   
-
   
-
   
155
 
  
$
176
  
$
-
  
$
234
  
$
410