LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
|
12 Months Ended |
Dec. 31, 2013
|
Text Block [Abstract] |
|
Schedule of Types of Loans in Loan Portfolio |
The loan portfolio
consists of various types of loans made principally to borrowers
located within the states of Texas and Oklahoma and is classified
by major type as follows:
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2013 |
|
|
2012 |
|
|
|
(Dollars in
thousands) |
|
Residential mortgage
loans held for sale
|
|
$ |
2,210 |
|
|
$ |
10,433 |
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
|
|
1,279,777 |
|
|
|
771,114 |
|
Real estate:
|
|
|
|
|
|
|
|
|
Construction, land
development and other land loans
|
|
|
865,511 |
|
|
|
550,768 |
|
1-4 family residential
(including home equity)
|
|
|
2,129,510 |
|
|
|
1,432,133 |
|
Commercial real estate
(including multi-family residential)
|
|
|
2,753,797 |
|
|
|
1,990,642 |
|
Farmland
|
|
|
332,648 |
|
|
|
211,156 |
|
Agriculture
|
|
|
198,610 |
|
|
|
74,481 |
|
Consumer and other (net
of unearned discount)
|
|
|
213,158 |
|
|
|
139,213 |
|
|
|
|
|
|
|
|
|
|
Total loans held for
investment
|
|
|
7,773,011 |
|
|
|
5,169,507 |
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
7,775,221 |
|
|
$ |
5,179,940 |
|
|
|
|
|
|
|
|
|
|
|
Schedule of Contractual Maturities of Loans |
The
contractual maturity ranges of the commercial and industrial,
construction, land development and other land loans, 1-4 family
residential (including home equity), commercial real estate
(including multi-family residential), agriculture (including
farmland) and consumer and other portfolios and the amount of such
loans with predetermined interest rates and floating rates in each
maturity range as of December 31, 2013 are summarized in the
following table. Contractual maturities are based on contractual
amounts outstanding and do not include loan purchase discounts of
$133.3 million or loans held for sale of $2.2 million at
December 31, 2013:
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
One Year
or
Less |
|
|
Through
Five Years |
|
|
After Five
Years |
|
|
Total |
|
|
|
(Dollars in
thousands) |
|
Commercial and
industrial
|
|
$ |
505,151 |
|
|
$ |
472,113 |
|
|
$ |
335,844 |
|
|
$ |
1,313,108 |
|
Real estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land
development and other land loans
|
|
|
280,838 |
|
|
|
172,245 |
|
|
|
421,675 |
|
|
|
874,758 |
|
1-4 family residential
(includes home equity)
|
|
|
30,352 |
|
|
|
134,488 |
|
|
|
1,976,539 |
|
|
|
2,141,379 |
|
Commercial (includes
multi-family residential)
|
|
|
113,892 |
|
|
|
498,971 |
|
|
|
2,209,798 |
|
|
|
2,822,661 |
|
Agriculture (includes
farmland)
|
|
|
172,535 |
|
|
|
72,384 |
|
|
|
294,350 |
|
|
|
539,269 |
|
Consumer and
other
|
|
|
68,314 |
|
|
|
95,742 |
|
|
|
51,072 |
|
|
|
215,128 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,171,082 |
|
|
$ |
1,445,943 |
|
|
$ |
5,289,278 |
|
|
$ |
7,906,303 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans with a
predetermined interest rate
|
|
$ |
373,155 |
|
|
$ |
721,115 |
|
|
$ |
2,356,926 |
|
|
$ |
3,451,196 |
|
Loans with a floating
interest rate
|
|
|
797,927 |
|
|
|
724,828 |
|
|
|
2,932,352 |
|
|
|
4,455,107 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,171,082 |
|
|
$ |
1,445,943 |
|
|
$ |
5,289,278 |
|
|
$ |
7,906,303 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of Activity with Respect to Related-Party Loans |
An analysis
of activity with respect to these related-party loans is as
follows:
|
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|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2013 |
|
|
2012 |
|
|
|
(Dollars in thousands) |
|
Beginning balance on
January 1
|
|
$ |
6,682 |
|
|
$ |
9,809 |
|
New loans and
reclassified related loans
|
|
|
306 |
|
|
|
967 |
|
Repayments
|
|
|
(801 |
) |
|
|
(4,094 |
) |
|
|
|
|
|
|
|
|
|
Ending balance
|
|
$ |
6,187 |
|
|
$ |
6,682 |
|
|
|
|
|
|
|
|
|
|
|
Schedule of Past Due Loans with Age Analysis, Segregated by Class of Loans |
An aging
analysis of past due loans, segregated by class of loans, was as
follows:
|
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|
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|
|
|
|
|
|
|
|
|
|
|
December 31,
2013 |
|
|
|
Loans Past Due and
Still Accruing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90 or More |
|
|
Total Past |
|
|
Nonaccrual |
|
|
Current |
|
|
Total |
|
|
|
30-89 Days |
|
|
Days |
|
|
Due Loans |
|
|
Loans |
|
|
Loans |
|
|
Loans |
|
|
|
(Dollars in
thousands) |
|
Construction, land
development and other land loans
|
|
$ |
6,258 |
|
|
$ |
2 |
|
|
$ |
6,260 |
|
|
$ |
386 |
|
|
$ |
858,865 |
|
|
$ |
865,511 |
|
Agriculture and
agriculture real estate (includes farmland)
|
|
|
5,634 |
|
|
|
218 |
|
|
|
5,852 |
|
|
|
62 |
|
|
|
525,344 |
|
|
|
531,258 |
|
1-4 family (includes home
equity)(1)
|
|
|
8,684 |
|
|
|
2,012 |
|
|
|
10,696 |
|
|
|
3,086 |
|
|
|
2,117,938 |
|
|
|
2,131,720 |
|
Commercial real estate
(includes multi-family residential)
|
|
|
8,163 |
|
|
|
1,752 |
|
|
|
9,915 |
|
|
|
4,333 |
|
|
|
2,739,549 |
|
|
|
2,753,797 |
|
Commercial and
industrial
|
|
|
9,552 |
|
|
|
933 |
|
|
|
10,485 |
|
|
|
2,208 |
|
|
|
1,267,084 |
|
|
|
1,279,777 |
|
Consumer and
other
|
|
|
1,344 |
|
|
|
30 |
|
|
|
1,374 |
|
|
|
156 |
|
|
|
211,628 |
|
|
|
213,158 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
39,635 |
|
|
$ |
4,947 |
|
|
$ |
44,582 |
|
|
$ |
10,231 |
|
|
$ |
7,720,408 |
|
|
$ |
7,775,221 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2012 |
|
|
|
Loans Past Due and
Still Accruing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90 or More |
|
|
Total Past |
|
|
Nonaccrual |
|
|
Current |
|
|
Total |
|
|
|
30-89 Days |
|
|
Days |
|
|
Due Loans |
|
|
Loans |
|
|
Loans |
|
|
Loans |
|
|
|
(Dollars in
thousands) |
|
Construction, land
development and other land loans
|
|
$ |
3,863 |
|
|
$ |
— |
|
|
$ |
3,863 |
|
|
$ |
1,170 |
|
|
$ |
545,735 |
|
|
$ |
550,768 |
|
Agriculture and
agriculture real estate (includes farmland)
|
|
|
310 |
|
|
|
21 |
|
|
|
331 |
|
|
|
396 |
|
|
|
284,910 |
|
|
|
285,637 |
|
1-4 family (includes home
equity)(1)
|
|
|
2,307 |
|
|
|
310 |
|
|
|
2,617 |
|
|
|
1,598 |
|
|
|
1,438,351 |
|
|
|
1,442,566 |
|
Commercial real estate
(includes multi-family residential)
|
|
|
9,163 |
|
|
|
— |
|
|
|
9,163 |
|
|
|
— |
|
|
|
1,981,479 |
|
|
|
1,990,642 |
|
Commercial and
industrial
|
|
|
4,843 |
|
|
|
— |
|
|
|
4,843 |
|
|
|
1,469 |
|
|
|
764,802 |
|
|
|
771,114 |
|
Consumer and
other
|
|
|
856 |
|
|
|
— |
|
|
|
856 |
|
|
|
749 |
|
|
|
137,608 |
|
|
|
139,213 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
21,342 |
|
|
$ |
331 |
|
|
$ |
21,673 |
|
|
$ |
5,382 |
|
|
$ |
5,152,885 |
|
|
$ |
5,179,940 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
Includes $2,210 and
$10,433 of residential mortgage loans held for sale at
December 31, 2013 and December 31, 2012,
respectively. |
|
Schedule of Nonperforming Assets |
The following
table presents information regarding nonperforming assets at the
dates indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
2010 |
|
|
2009 |
|
|
|
(Dollars in
thousands) |
|
Nonaccrual
loans
|
|
$ |
10,231 |
|
|
$ |
5,382 |
|
|
$ |
3,578 |
|
|
$ |
4,439 |
|
|
$ |
6,079 |
|
Accruing loans 90 or more
days past due
|
|
|
4,947 |
|
|
|
331 |
|
|
|
— |
|
|
|
189 |
|
|
|
2,332 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total nonperforming
loans
|
|
|
15,178 |
|
|
|
5,713 |
|
|
|
3,578 |
|
|
|
4,628 |
|
|
|
8,411 |
|
Repossessed
assets
|
|
|
27 |
|
|
|
68 |
|
|
|
146 |
|
|
|
161 |
|
|
|
116 |
|
Other real
estate
|
|
|
7,299 |
|
|
|
7,234 |
|
|
|
8,328 |
|
|
|
11,053 |
|
|
|
7,829 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total nonperforming
assets
|
|
$ |
22,504 |
|
|
$ |
13,015 |
|
|
$ |
12,052 |
|
|
$ |
15,842 |
|
|
$ |
16,356 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming assets to
total loans and other real estate
|
|
|
0.29 |
% |
|
|
0.25 |
% |
|
|
0.32 |
% |
|
|
0.45 |
% |
|
|
0.48 |
% |
|
Schedule of Impaired Loans |
Year-end
impaired loans are set forth in the following tables. No interest
income was recognized on impaired loans subsequent to their
classification as impaired. The average recorded investment
presented in the table below is reported on a year-to-date
basis.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2013 |
|
|
|
Recorded Investment |
|
|
Unpaid Principal
Balance |
|
|
Related
Allowance |
|
|
Average Recorded
Investment |
|
|
|
(Dollars in
thousands) |
|
With no related
allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land
development and other land loans
|
|
$ |
277 |
|
|
$ |
289 |
|
|
$ |
— |
|
|
$ |
711 |
|
Agriculture and
agriculture real estate (includes farmland)
|
|
|
14 |
|
|
|
57 |
|
|
|
— |
|
|
|
46 |
|
1-4 family (includes home
equity)
|
|
|
584 |
|
|
|
664 |
|
|
|
— |
|
|
|
538 |
|
Commercial real estate
(includes multi-family residential)
|
|
|
2,490 |
|
|
|
3,798 |
|
|
|
— |
|
|
|
1,470 |
|
Commercial and
industrial
|
|
|
103 |
|
|
|
122 |
|
|
|
— |
|
|
|
95 |
|
Consumer and
other
|
|
|
15 |
|
|
|
16 |
|
|
|
— |
|
|
|
13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
3,483 |
|
|
|
4,946 |
|
|
|
— |
|
|
|
2,873 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With an allowance
recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land
development and other land loans
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Agriculture and
agriculture real estate (includes farmland)
|
|
|
21 |
|
|
|
27 |
|
|
|
18 |
|
|
|
28 |
|
1-4 family (includes home
equity)
|
|
|
2,519 |
|
|
|
2,548 |
|
|
|
890 |
|
|
|
1,759 |
|
Commercial real estate
(includes multi-family residential)
|
|
|
1,613 |
|
|
|
1,615 |
|
|
|
445 |
|
|
|
2,032 |
|
Commercial and
industrial
|
|
|
1,111 |
|
|
|
1,192 |
|
|
|
1,029 |
|
|
|
1,077 |
|
Consumer and
other
|
|
|
95 |
|
|
|
113 |
|
|
|
77 |
|
|
|
81 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
5,359 |
|
|
|
5,495 |
|
|
|
2,459 |
|
|
|
4,977 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land
development and other land loans
|
|
|
277 |
|
|
|
289 |
|
|
|
— |
|
|
|
711 |
|
Agriculture and
agriculture real estate (includes farmland)
|
|
|
35 |
|
|
|
84 |
|
|
|
18 |
|
|
|
74 |
|
1-4 family (includes home
equity)
|
|
|
3,103 |
|
|
|
3,212 |
|
|
|
890 |
|
|
|
2,297 |
|
Commercial real estate
(includes multi-family residential)
|
|
|
4,103 |
|
|
|
5,413 |
|
|
|
445 |
|
|
|
3,502 |
|
Commercial and
industrial
|
|
|
1,214 |
|
|
|
1,314 |
|
|
|
1,029 |
|
|
|
1,172 |
|
Consumer and
other
|
|
|
110 |
|
|
|
129 |
|
|
|
77 |
|
|
|
94 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
8,842 |
|
|
$ |
10,441 |
|
|
$ |
2,459 |
|
|
$ |
7,850 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2012 |
|
|
|
Recorded Investment |
|
|
Unpaid Principal
Balance |
|
|
Related
Allowance |
|
|
Average Recorded
Investment |
|
|
|
(Dollars in
thousands) |
|
With no related
allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land
development and other land loans
|
|
$ |
1,144 |
|
|
$ |
1,175 |
|
|
$ |
— |
|
|
$ |
368 |
|
Agriculture and
agriculture real estate (includes farmland)
|
|
|
77 |
|
|
|
77 |
|
|
|
— |
|
|
|
34 |
|
1-4 family (includes home
equity)
|
|
|
491 |
|
|
|
522 |
|
|
|
— |
|
|
|
381 |
|
Commercial real estate
(includes multi-family residential)
|
|
|
450 |
|
|
|
476 |
|
|
|
— |
|
|
|
676 |
|
Commercial and
industrial
|
|
|
87 |
|
|
|
89 |
|
|
|
— |
|
|
|
75 |
|
Consumer and
other
|
|
|
10 |
|
|
|
10 |
|
|
|
— |
|
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
2,259 |
|
|
|
2,349 |
|
|
|
— |
|
|
|
1,537 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With an allowance
recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land
development and other land loans
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
451 |
|
Agriculture and
agriculture real estate (includes farmland)
|
|
|
34 |
|
|
|
41 |
|
|
|
29 |
|
|
|
45 |
|
1-4 family (includes home
equity)
|
|
|
999 |
|
|
|
1,017 |
|
|
|
273 |
|
|
|
720 |
|
Commercial real estate
(includes multi-family residential)
|
|
|
2,450 |
|
|
|
2,451 |
|
|
|
610 |
|
|
|
2,725 |
|
Commercial and
industrial
|
|
|
1,043 |
|
|
|
1,079 |
|
|
|
1,002 |
|
|
|
782 |
|
Consumer and
other
|
|
|
66 |
|
|
|
81 |
|
|
|
67 |
|
|
|
21 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
4,592 |
|
|
|
4,669 |
|
|
|
1,981 |
|
|
|
4,744 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land
development and other land loans
|
|
|
1,144 |
|
|
|
1,175 |
|
|
|
— |
|
|
|
819 |
|
Agriculture and
agriculture real estate (includes farmland)
|
|
|
111 |
|
|
|
118 |
|
|
|
29 |
|
|
|
79 |
|
1-4 family (includes home
equity)
|
|
|
1,490 |
|
|
|
1,539 |
|
|
|
273 |
|
|
|
1,101 |
|
Commercial real estate
(includes multi-family residential)
|
|
|
2,900 |
|
|
|
2,927 |
|
|
|
610 |
|
|
|
3,401 |
|
Commercial and
industrial
|
|
|
1,130 |
|
|
|
1,168 |
|
|
|
1,002 |
|
|
|
857 |
|
Consumer and
other
|
|
|
76 |
|
|
|
91 |
|
|
|
67 |
|
|
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,851 |
|
|
$ |
7,018 |
|
|
$ |
1,981 |
|
|
$ |
6,281 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule Showing Risk Grades and Classified Loans by Class of Loan |
The following
table presents risk grades and classified loans by class of loan at
December 31, 2013. Impaired loans according to the new loan
grade policy include loans in risk grades 7, 8 and 9.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction,
Land
Development
and other
land loans |
|
|
Agriculture and
Agriculture
Real Estate
(includes
Farmland) |
|
|
1-4 Family
(includes
Home Equity)(1) |
|
|
Commercial
Real Estate
(includes Multi-
Family
Residential) |
|
|
Commercial
and Industrial |
|
|
Consumer and
Other |
|
|
Total |
|
|
|
(Dollars in
thousands) |
|
Grade 1
|
|
$ |
— |
|
|
$ |
5,225 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
50,131 |
|
|
$ |
31,362 |
|
|
$ |
86,718 |
|
Grade 2
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Grade 3
|
|
|
858,712 |
|
|
|
520,921 |
|
|
|
2,113,698 |
|
|
|
2,697,664 |
|
|
|
1,202,604 |
|
|
|
181,406 |
|
|
|
7,575,005 |
|
Grade 4
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Grade 5
|
|
|
1,141 |
|
|
|
3,427 |
|
|
|
6,337 |
|
|
|
10,798 |
|
|
|
17,179 |
|
|
|
146 |
|
|
|
39,028 |
|
Grade 6
|
|
|
1,616 |
|
|
|
1,043 |
|
|
|
4,504 |
|
|
|
14,316 |
|
|
|
2,423 |
|
|
|
134 |
|
|
|
24,036 |
|
Grade 7
|
|
|
277 |
|
|
|
35 |
|
|
|
3,093 |
|
|
|
4,103 |
|
|
|
1,214 |
|
|
|
110 |
|
|
|
8,832 |
|
Grade 8
|
|
|
— |
|
|
|
— |
|
|
|
10 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
10 |
|
Grade 9
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
PCI Loans(2)
|
|
|
3,765 |
|
|
|
607 |
|
|
|
4,078 |
|
|
|
26,916 |
|
|
|
6,226 |
|
|
|
— |
|
|
|
41,592 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
865,511 |
|
|
$ |
531,258 |
|
|
$ |
2,131,720 |
|
|
$ |
2,753,797 |
|
|
$ |
1,279,777 |
|
|
$ |
213,158 |
|
|
$ |
7,775,221 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
Includes $2.2 million of
residential mortgage loans held for sale at December 31,
2013. |
(2) |
Of the total PCI loans,
$17.6 million were classifed as substandard at December 31,
2013. |
The following
table presents risk grades and classified loans by class of loan at
December 31, 2012. Impaired loans according to the loan policy
in effect in 2012 include loans in risk grades 5, 6 and
7.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction,
Land
Development
and other
land loans |
|
|
Agriculture and
Agriculture
Real Estate
(includes
Farmland) |
|
|
1-4 Family
(includes
Home Equity)(1) |
|
|
Commercial
Real Estate
(includes Multi-
Family
Residential) |
|
|
Commercial
and Industrial |
|
|
Consumer and
Other |
|
|
Total |
|
|
|
(Dollars in
thousands) |
|
Grade 1
|
|
$ |
476 |
|
|
$ |
4,195 |
|
|
$ |
515 |
|
|
$ |
— |
|
|
$ |
53,965 |
|
|
$ |
38,789 |
|
|
$ |
97,940 |
|
Grade 2
|
|
|
537,340 |
|
|
|
277,333 |
|
|
|
1,431,095 |
|
|
|
1,945,319 |
|
|
|
702,587 |
|
|
|
100,163 |
|
|
|
4,993,837 |
|
Grade 3
|
|
|
7,250 |
|
|
|
2,024 |
|
|
|
4,947 |
|
|
|
11,760 |
|
|
|
8,926 |
|
|
|
— |
|
|
|
34,907 |
|
Grade 4
|
|
|
4,256 |
|
|
|
1,694 |
|
|
|
4,303 |
|
|
|
11,711 |
|
|
|
1,385 |
|
|
|
176 |
|
|
|
23,525 |
|
Grade 5
|
|
|
1,144 |
|
|
|
111 |
|
|
|
1,477 |
|
|
|
2,900 |
|
|
|
1,130 |
|
|
|
76 |
|
|
|
6,838 |
|
Grade 6
|
|
|
— |
|
|
|
— |
|
|
|
13 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
13 |
|
Grade 7
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
PCI Loans
|
|
|
302 |
|
|
|
280 |
|
|
|
216 |
|
|
|
18,952 |
|
|
|
3,121 |
|
|
|
9 |
|
|
|
22,880 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
550,768 |
|
|
$ |
285,637 |
|
|
$ |
1,442,566 |
|
|
$ |
1,990,642 |
|
|
$ |
771,114 |
|
|
$ |
139,213 |
|
|
$ |
5,179,940 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
Includes $10.4 million of
residential mortgage loans held for sale at December 31,
2012. |
|
Schedule of Recorded Investment in Loans and Activity in Allowance for Credit Losses by Portfolio Segment |
The following
table details the recorded investment in loans, excluding $2.2
million and $10.4 million of residential mortgage loans held for
sale, and activity in the allowance for credit losses by portfolio
segment for the years ended December 31, 2013 and 2012,
respectively. Allocation of a portion of the allowance to one
category of loans does not preclude its availability to absorb
losses in other categories.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction,
Land
Development
and
other
land
loans |
|
|
Agriculture
and
Agriculture
Real
Estate
(includes
Farmland) |
|
|
1-4
Family
(includes Home
Equity) |
|
|
Commercial
Real
Estate
(includes
Multi-Family
Residential) |
|
|
Commercial
and
Industrial |
|
|
Consumer and
Other |
|
|
Total |
|
|
|
(Dollars in
thousands) |
|
Allowance for credit
losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance January 1,
2013
|
|
$ |
11,909 |
|
|
$ |
764 |
|
|
$ |
13,942 |
|
|
$ |
19,607 |
|
|
$ |
5,777 |
|
|
$ |
565 |
|
|
$ |
52,564 |
|
Provision for credit
losses
|
|
|
2,470 |
|
|
|
399 |
|
|
|
3,277 |
|
|
|
5,189 |
|
|
|
2,714 |
|
|
|
3,191 |
|
|
|
17,240 |
|
Charge-offs
|
|
|
(271 |
) |
|
|
(48 |
) |
|
|
(211 |
) |
|
|
(894 |
) |
|
|
(672 |
) |
|
|
(3,397 |
) |
|
|
(5,493 |
) |
Recoveries
|
|
|
245 |
|
|
|
114 |
|
|
|
38 |
|
|
|
933 |
|
|
|
348 |
|
|
|
1,293 |
|
|
|
2,971 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
charge-offs
|
|
|
(26 |
) |
|
|
66 |
|
|
|
(173 |
) |
|
|
39 |
|
|
|
(324 |
) |
|
|
(2,104 |
) |
|
|
(2,522 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance December 31,
2013
|
|
$ |
14,353 |
|
|
$ |
1,229 |
|
|
$ |
17,046 |
|
|
$ |
24,835 |
|
|
$ |
8,167 |
|
|
$ |
1,652 |
|
|
$ |
67,282 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit
losses related to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated
for impairment
|
|
$ |
— |
|
|
$ |
18 |
|
|
$ |
890 |
|
|
$ |
445 |
|
|
$ |
1,029 |
|
|
$ |
77 |
|
|
$ |
2,459 |
|
Collectively evaluated
for impairment
|
|
|
14,353 |
|
|
|
1,211 |
|
|
|
16,156 |
|
|
|
24,390 |
|
|
|
7,138 |
|
|
|
1,575 |
|
|
|
64,823 |
|
PCI loans
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total allowance for
credit losses
|
|
$ |
14,353 |
|
|
$ |
1,229 |
|
|
$ |
17,046 |
|
|
$ |
24,835 |
|
|
$ |
8,167 |
|
|
$ |
1,652 |
|
|
$ |
67,282 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recorded investment in
loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated
for impairment
|
|
$ |
277 |
|
|
$ |
35 |
|
|
$ |
3,103 |
|
|
$ |
4,103 |
|
|
$ |
1,214 |
|
|
$ |
110 |
|
|
$ |
8,842 |
|
Collectively evaluated
for impairment
|
|
|
861,469 |
|
|
|
530,616 |
|
|
|
2,122,329 |
|
|
|
2,722,778 |
|
|
|
1,272,337 |
|
|
|
213,048 |
|
|
|
7,722,577 |
|
PCI loans
|
|
|
3,765 |
|
|
|
607 |
|
|
|
4,078 |
|
|
|
26,916 |
|
|
|
6,226 |
|
|
|
— |
|
|
|
41,592 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans evaluated for
impairment
|
|
$ |
865,511 |
|
|
$ |
531,258 |
|
|
$ |
2,129,510 |
|
|
$ |
2,753,797 |
|
|
$ |
1,279,777 |
|
|
$ |
213,158 |
|
|
$ |
7,773,011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit
losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance January 1,
2012
|
|
$ |
12,094 |
|
|
$ |
511 |
|
|
$ |
12,645 |
|
|
$ |
21,460 |
|
|
$ |
3,826 |
|
|
$ |
1,058 |
|
|
$ |
51,594 |
|
Provision for credit
losses
|
|
|
1,190 |
|
|
|
290 |
|
|
|
1,754 |
|
|
|
273 |
|
|
|
1,810 |
|
|
|
783 |
|
|
|
6,100 |
|
Charge-offs
|
|
|
(1,392 |
) |
|
|
(82 |
) |
|
|
(569 |
) |
|
|
(2,294 |
) |
|
|
(674 |
) |
|
|
(2,885 |
) |
|
|
(7,896 |
) |
Recoveries
|
|
|
17 |
|
|
|
45 |
|
|
|
112 |
|
|
|
168 |
|
|
|
815 |
|
|
|
1,609 |
|
|
|
2,766 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
charge-offs
|
|
|
(1,375 |
) |
|
|
(37 |
) |
|
|
(457 |
) |
|
|
(2,126 |
) |
|
|
141 |
|
|
|
(1,276 |
) |
|
|
(5,130 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance December 31,
2012
|
|
$ |
11,909 |
|
|
$ |
764 |
|
|
$ |
13,942 |
|
|
$ |
19,607 |
|
|
$ |
5,777 |
|
|
$ |
565 |
|
|
$ |
52,564 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit
losses related to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated
for impairment
|
|
$ |
— |
|
|
$ |
29 |
|
|
$ |
273 |
|
|
$ |
610 |
|
|
$ |
1,002 |
|
|
$ |
67 |
|
|
$ |
1,981 |
|
Collectively evaluated
for impairment
|
|
|
11,909 |
|
|
|
735 |
|
|
|
13,669 |
|
|
|
18,997 |
|
|
|
4,775 |
|
|
|
498 |
|
|
|
50,583 |
|
PCI loans
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total allowance for
credit losses
|
|
$ |
11,909 |
|
|
$ |
764 |
|
|
$ |
13,942 |
|
|
$ |
19,607 |
|
|
$ |
5,777 |
|
|
$ |
565 |
|
|
$ |
52,564 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recorded investment in
loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated
for impairment
|
|
$ |
1,144 |
|
|
$ |
111 |
|
|
$ |
1,490 |
|
|
$ |
2,900 |
|
|
$ |
1,130 |
|
|
$ |
76 |
|
|
$ |
6,851 |
|
Collectively evaluated
for impairment
|
|
|
549,322 |
|
|
|
285,246 |
|
|
|
1,430,427 |
|
|
|
1,968,790 |
|
|
|
766,863 |
|
|
|
139,128 |
|
|
|
5,139,776 |
|
PCI loans
|
|
|
302 |
|
|
|
280 |
|
|
|
216 |
|
|
|
18,952 |
|
|
|
3,121 |
|
|
|
9 |
|
|
|
22,880 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans evaluated for
impairment
|
|
$ |
550,768 |
|
|
$ |
285,637 |
|
|
$ |
1,432,133 |
|
|
$ |
1,990,642 |
|
|
$ |
771,114 |
|
|
$ |
139,213 |
|
|
$ |
5,169,507 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of activity in allowance for credit losses |
An analysis
of activity in the allowance for credit losses for the year ended
December 31, 2011 is as follows (dollars in
thousands):
|
|
|
|
|
Balance at beginning of
year
|
|
$ |
51,584 |
|
Addition—provision
charged to operations
|
|
|
5,200 |
|
Charge-offs and
recoveries:
|
|
|
|
|
Loans
charged-off
|
|
|
(6,850 |
) |
Loan
recoveries
|
|
|
1,660 |
|
|
|
|
|
|
Net
charge-offs
|
|
|
(5,190 |
) |
|
|
|
|
|
Balance at end of
year
|
|
$ |
51,594 |
|
|
|
|
|
|
|
Schedule of Loans Modified in Troubled Debt Restructuring |
The following
table presents information regarding the recorded balance at
December 31, 2013 and 2012 of loans modified in a troubled
debt restructuring during the years ended December 31, 2013
and 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of
December 31, |
|
|
|
2013 |
|
|
2012 |
|
|
|
Number of
Contracts |
|
|
Recorded
Investment
at Date of
Restructure |
|
|
Recorded
Investment
at Year-End |
|
|
Number of
Contracts |
|
|
Recorded
Investment
at Date of
Restructure |
|
|
Recorded
Investment
at Year-End |
|
|
|
(Dollars in
thousands) |
|
Troubled Debt
Restructurings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land
development and other land loans
|
|
|
1 |
|
|
$ |
251 |
|
|
$ |
236 |
|
|
|
— |
|
|
$ |
— |
|
|
$ |
— |
|
Agriculture and
agriculture real estate
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
1-4 Family (includes home
equity)
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Commercial real estate
(commercial mortgage and multi-family)
|
|
|
1 |
|
|
|
450 |
|
|
|
450 |
|
|
|
1 |
|
|
|
52 |
|
|
|
51 |
|
Commercial and
industrial
|
|
|
1 |
|
|
|
15 |
|
|
|
14 |
|
|
|
4 |
|
|
|
1,007 |
|
|
|
951 |
|
Consumer and
other
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
64 |
|
|
|
63 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
3 |
|
|
$ |
716 |
|
|
$ |
700 |
|
|
|
6 |
|
|
$ |
1,123 |
|
|
$ |
1,065 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|