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Allowance for Loan Losses (Tables)
 12 Months Ended
Dec. 31, 2017
Allowance for Loan Losses  
Schedule of changes in the allowance for loan losses

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

(Dollars in thousands)

    

2017

    

2016

    

2015

 

Balance at the beginning of year

 

$

37,066

 

$

35,569

 

$

35,606

 

Provision charged to operations

 

 

16,435

 

 

18,040

 

 

15,512

 

Loans charged off

 

 

(22,396)

 

 

(21,170)

 

 

(20,317)

 

Recoveries of loans previously charged off

 

 

4,621

 

 

4,627

 

 

4,768

 

Balance at the end of year

 

$

35,726

 

$

37,066

 

$

35,569

 

 

Schedule of total allowance for loan losses, allowance by impairment methodology, total loans, and total loans by impairment methodology

The following table presents, as of and for the year ended December 31, 2017, the total allowance for loan losses, the allowance by impairment methodology (individually evaluated for impairment, collectively evaluated for impairment or PCI loans), the total loans and loans by impairment methodology (individually evaluated for impairment, collectively evaluated for impairment or PCI loans) and a rollforward of the allowance for loan losses.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Real Estate

  

 

 

  

Commercial,

  

 

 

  

 

 

  

 

 

  

 

 

 

 

 

Residential

 

Real Estate

 

Financial &

 

Equity

 

 

 

 

Consumer

 

 

 

 

(Dollars in thousands)

 

Mortgage

 

Construction

 

Agricultural

 

Lines

 

Consumer

 

Finance

 

Total

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at the beginning of year

 

$

2,559

 

$

816

 

$

7,393

 

$

685

 

$

261

 

$

25,352

 

$

37,066

 

Provision charged to operations

 

 

(127)

 

 

(211)

 

 

413

 

 

43

 

 

82

 

 

16,235

 

 

16,435

 

Loans charged off

 

 

(179)

 

 

 —

 

 

(349)

 

 

(42)

 

 

(301)

 

 

(21,525)

 

 

(22,396)

 

Recoveries of loans previously charged off

 

 

118

 

 

 —

 

 

21

 

 

 2

 

 

189

 

 

4,291

 

 

4,621

 

Ending balance at December 31, 2017

 

$

2,371

 

$

605

 

$

7,478

 

$

688

 

$

231

 

$

24,353

 

$

35,726

 

Ending balance: individually evaluated for impairment

 

$

214

 

$

 —

 

$

615

 

$

 —

 

$

 —

 

$

 —

 

$

829

 

Ending balance: collectively evaluated for impairment

 

$

2,157

 

$

605

 

$

6,863

 

$

688

 

$

231

 

$

24,353

 

$

34,897

 

Ending balance: acquired loans - PCI

 

$

 —

 

$

 —

 

$

 —

 

$

 —

 

$

 —

 

$

 —

 

$

 —

 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance at December 31, 2017

 

$

184,863

 

$

44,782

 

$

437,884

 

$

55,237

 

$

13,018

 

$

292,004

 

$

1,027,788

 

Ending balance: individually evaluated for impairment

 

$

3,636

 

$

 —

 

$

6,907

 

$

31

 

$

322

 

$

 —

 

$

10,896

 

Ending balance: collectively evaluated for impairment

 

$

180,735

 

$

44,782

 

$

428,505

 

$

55,067

 

$

12,696

 

$

292,004

 

$

1,013,789

 

Ending balance: acquired loans - PCI

 

$

492

 

$

 —

 

$

2,472

 

$

139

 

$

 —

 

$

 —

 

$

3,103

 

 

The following table presents, as of and for the year ended December 31, 2016, the total allowance for loan losses, the allowance by impairment methodology (individually evaluated for impairment, collectively evaluated for impairment or PCI loans), the total loans and loans by impairment methodology (individually evaluated for impairment, collectively evaluated for impairment or PCI loans) and a rollforward of the allowance for loan losses.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Real Estate

  

 

 

  

Commercial,

  

 

 

  

 

 

  

 

 

  

 

 

 

 

 

Residential

 

Real Estate

 

Financial &

 

Equity

 

 

 

 

Consumer

 

 

 

 

(Dollars in thousands)

 

Mortgage

 

Construction

 

Agricultural

 

Lines

 

Consumer

 

Finance

 

Total

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at the beginning of year

 

$

2,471

 

$

94

 

$

7,755

 

$

1,052

 

$

243

 

$

23,954

 

$

35,569

 

Provision charged to operations

 

 

 7

 

 

722

 

 

(481)

 

 

(310)

 

 

63

 

 

18,039

 

 

18,040

 

Loans charged off

 

 

(82)

 

 

 —

 

 

(87)

 

 

(57)

 

 

(281)

 

 

(20,663)

 

 

(21,170)

 

Recoveries of loans previously charged off

 

 

163

 

 

 —

 

 

206

 

 

 —

 

 

236

 

 

4,022

 

 

4,627

 

Ending balance at December 31, 2016

 

$

2,559

 

$

816

 

$

7,393

 

$

685

 

$

261

 

$

25,352

 

$

37,066

 

Ending balance: individually evaluated for impairment

 

$

251

 

$

 —

 

$

307

 

$

 —

 

$

94

 

$

 —

 

$

652

 

Ending balance: collectively evaluated for impairment

 

$

2,308

 

$

816

 

$

7,086

 

$

685

 

$

167

 

$

25,352

 

$

36,414

 

Ending balance: acquired loans - PCI

 

$

 —

 

$

 —

 

$

 —

 

$

 —

 

$

 —

 

$

 —

 

$

 —

 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance at December 31, 2016

 

$

188,264

 

$

55,732

 

$

390,388

 

$

52,600

 

$

8,399

 

$

304,357

 

$

999,740

 

Ending balance: individually evaluated for impairment

 

$

3,408

 

$

 —

 

$

1,865

 

$

32

 

$

520

 

$

 —

 

$

5,825

 

Ending balance: collectively evaluated for impairment

 

$

183,637

 

$

55,732

 

$

380,764

 

$

52,290

 

$

7,879

 

$

304,357

 

$

984,659

 

Ending balance: acquired loans - PCI

 

$

1,219

 

$

 —

 

$

7,759

 

$

278

 

$

 —

 

$

 —

 

$

9,256

 

 

Schedule of loans by credit quality indicators

Loans by credit quality indicators as of December 31, 2017 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

 

 

    

Special

    

 

 

    

Substandard

    

 

 

 

(Dollars in thousands)

 

Pass

 

Mention

 

Substandard

 

Nonaccrual

 

Total1

 

Real estate – residential mortgage

 

$

179,963

 

$

1,235

 

$

2,835

 

$

830

 

$

184,863

 

Real estate – construction:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction lending

 

 

41,449

 

 

 —

 

 

 —

 

 

 —

 

 

41,449

 

Consumer lot lending

 

 

3,333

 

 

 —

 

 

 —

 

 

 —

 

 

3,333

 

Commercial, financial and agricultural:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate lending

 

 

293,292

 

 

2,874

 

 

4,528

 

 

3,796

 

 

304,490

 

Land acquisition and development lending

 

 

24,253

 

 

 —

 

 

15,591

 

 

 —

 

 

39,844

 

Builder line lending

 

 

29,596

 

 

 —

 

 

 —

 

 

 —

 

 

29,596

 

Commercial business lending

 

 

63,749

 

 

34

 

 

137

 

 

34

 

 

63,954

 

Equity lines

 

 

53,870

 

 

465

 

 

251

 

 

651

 

 

55,237

 

Consumer

 

 

12,693

 

 

 3

 

 

322

 

 

 —

 

 

13,018

 

 

 

$

702,198

 

$

4,611

 

$

23,664

 

$

5,311

 

$

735,784

 

1

At December 31, 2017, the Corporation did not have any loans classified as Doubtful or Loss.

 

Included in the table above are loans purchased in connection with the acquisition of CVB of $42.67 million pass rated, $1.09 million special mention, $1.98 million substandard and $161,000 substandard nonaccrual.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-

 

 

 

 

(Dollars in thousands)

   

Performing

   

Performing

   

Total

 

Consumer finance

 

$

291,240

 

$

764

 

$

292,004

 

 

Loans by credit quality indicators as of December 31, 2016 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

   

Special

   

 

 

   

Substandard

   

 

 

 

(Dollars in thousands)

 

Pass

 

 Mention 

 

Substandard

 

Nonaccrual

 

Total1

 

Real estate – residential mortgage

 

$

181,814

 

$

2,037

 

$

2,761

 

$

1,652

 

$

188,264

 

Real estate – construction:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction lending

 

 

47,062

 

 

 —

 

 

 —

 

 

 —

 

 

47,062

 

Consumer lot lending

 

 

8,670

 

 

 —

 

 

 —

 

 

 —

 

 

8,670

 

Commercial, financial and agricultural:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate lending

 

 

243,427

 

 

5,860

 

 

10,880

 

 

1,619

 

 

261,786

 

Land acquisition and development lending

 

 

29,595

 

 

565

 

 

13,312

 

 

 —

 

 

43,472

 

Builder line lending

 

 

21,235

 

 

789

 

 

367

 

 

 —

 

 

22,391

 

Commercial business lending

 

 

62,044

 

 

255

 

 

309

 

 

131

 

 

62,739

 

Equity lines

 

 

51,186

 

 

480

 

 

177

 

 

757

 

 

52,600

 

Consumer

 

 

7,870

 

 

 2

 

 

409

 

 

118

 

 

8,399

 

 

 

$

652,903

 

$

9,988

 

$

28,215

 

$

4,277

 

$

695,383

 

1

At December 31, 2016, the Corporation did not have any loans classified as Doubtful or Loss.

 

Included in the table above are loans purchased in connection with the acquisition of CVB of $54.06 million pass rated, $2.59 million special mention, $5.74 million substandard and $196,000 substandard nonaccrual.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-

 

 

 

 

(Dollars in thousands)

   

Performing

   

Performing

   

Total

 

Consumer finance

 

$

303,142

 

$

1,215

 

$

304,357