Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2023

The activity in the allowance for credit losses for the years ended December 31, 2023, 2022, and 2021 is summarized in the following tables.


	Year ended December 31, 2023
(In thousands)	Commercial, financial and agricultural		Commercial real estate		Construction real estate		Residential real estate		Consumer		Leases		Total
Allowance for credit losses:
Beginning balance	$	16,987	$	17,829	$	5,550	$	16,831	$	28,021	$	161	$	85,379
Impact of adopting ASU 2022-02	222		181		—		(20)		—		—		383
Charge-offs	1,226		754		546		44		8,293		—		10,863
Recoveries	(292)		(240)		(548)		(482)		(4,379)		(1)		(5,942)
Net charge-offs (recoveries)	934		514		(2)		(438)		3,914		(1)		4,921
(Recovery of) provision for credit losses	(779)		(1,122)		(325)		1,569		3,606		(45)		2,904
Ending balance	$	15,496	$	16,374	$	5,227	$	18,818	$	27,713	$	117	$	83,745


	Year ended December 31, 2022
(In thousands)	Commercial, financial and agricultural		Commercial real estate		Construction real estate		Residential real estate		Consumer		Leases		Total
Allowance for credit losses:
Beginning balance	$	14,025	$	25,466	$	5,758	$	11,424	$	26,286	$	238	$	83,197
Charge-offs	2,056		1,578		33		81		5,343		42		9,133
Recoveries	(826)		(627)		(1,343)		(164)		(3,767)		(31)		(6,758)
Net charge-offs (recoveries)	1,230		951		(1,310)		(83)		1,576		11		2,375
Provision for (recovery of) credit losses	4,192		(6,686)		(1,518)		5,324		3,311		(66)		4,557
Ending balance	16,987		17,829		5,550		16,831		28,021		161		85,379


	Year ended December 31, 2021
(In thousands)	Commercial, financial and agricultural		Commercial real estate		Construction real estate		Residential real estate		Consumer		Leases		Total
Allowance for credit losses:
Beginning balance	$	25,608	$	23,480	$	7,288	$	11,363	$	17,418	$	518	$	85,675
Impact of adopting ASC 326	(8,257)		2,119		(1,898)		3,121		10,925		80		6,090
Charge-offs	957		35		—		49		4,052		—		5,093
Recoveries	(639)		(802)		(2,299)		(941)		(3,759)		(1)		(8,441)
Net charge-offs (recoveries)	318		(767)		(2,299)		(892)		293		(1)		(3,348)
Recovery of credit losses	(3,008)		(900)		(1,931)		(3,952)		(1,764)		(361)		(11,916)
Ending balance	$	14,025	$	25,466	$	5,758	$	11,424	$	26,286	$	238	$	83,197

The composition of the ACL at December 31, 2023 and December 31, 2022 was as follows:


	December 31, 2023
(In thousands)	Commercial, financial and agricultural			Commercial real estate			Construction real estate			Residential real estate			Consumer			Leases			Total
ACL:
Ending allowance balance attributed to loans:
Individually evaluated for impairment	$	4,980		$	3		$	—		$	—		$	—		$	—		$	4,983
Collectively evaluated for impairment	10,516			16,371			5,227			18,818			27,713			117			78,762
Accruing acquired with deteriorated credit quality	—			—			—			—			—			—			—
Total ending allowance balance	$	15,496		$	16,374		$	5,227		$	18,818		$	27,713		$	117		$	83,745

Loan balance:
Loans individually evaluated for impairment	$	21,228		$	20,740		$	504		$	2,670		$	—		$	73		$	45,215
Loans collectively evaluated for impairment	1,274,390			1,853,383			303,969			2,026,537			1,945,936			23,956			7,428,171
Accruing loans acquired with deteriorated credit quality	22			1,870			626			317			—			—			2,835
Total ending loan balance	$	1,295,640		$	1,875,993		$	305,099		$	2,029,524		$	1,945,936		$	24,029		$	7,476,221

ACL as a percentage of loan balance:
Loans individually evaluated for impairment	23.46		%	0.01		%	—		%	—		%	—		%	—		%	11.02		%
Loans collectively evaluated for impairment	0.83		%	0.88		%	1.72		%	0.93		%	1.42		%	0.49		%	1.06		%
Accruing loans acquired with deteriorated credit quality	—		%	—		%	—		%	—		%	—		%	—		%	—		%
Total	1.20		%	0.87		%	1.71		%	0.93		%	1.42		%	0.49		%	1.12		%


	December 31, 2022
(In thousands)	Commercial, financial and agricultural			Commercial real estate			Construction real estate			Residential real estate			Consumer			Leases			Total
ACL:
Ending allowance balance attributed to loans:
Individually evaluated for impairment	$	3,426		$	131		$	—		$	—		$	—		$	9		$	3,566
Collectively evaluated for impairment	13,561			17,698			5,550			16,831			28,021			152			81,813
Accruing acquired with deteriorated credit quality	—			—			—			—			—			—			—
Total ending allowance balance	$	16,987		$	17,829		$	5,550		$	16,831		$	28,021		$	161		$	85,379

Loan balance:
Loans individually evaluated for impairment	$	41,307		$	32,423		$	1,712		$	2,191		$	—		$	708		$	78,341
Loans collectively evaluated for impairment	1,259,524			1,758,118			323,043			1,794,302			1,904,981			18,929			7,058,897
Accruing loans acquired with deteriorated credit quality	102			3,513			660			378			—			—			4,653
Total ending loan balance	$	1,300,933		$	1,794,054		$	325,415		$	1,796,871		$	1,904,981		$	19,637		$	7,141,891

ACL as a percentage of loan balance:
Loans individually evaluated for impairment	8.29		%	0.40		%	—		%	—		%	—		%	1.27		%	4.55		%
Loans collectively evaluated for impairment	1.08		%	1.01		%	1.72		%	0.94		%	1.47		%	0.80		%	1.16		%
Accruing loans acquired with deteriorated credit quality	—		%	—		%	—		%	—		%	—		%	—		%	—		%
Total	1.31		%	0.99		%	1.71		%	0.94		%	1.47		%	0.82		%	1.20		%