LOANS (Tables)

6 Months Ended

Jun. 30, 2012

Schedule of Accounts Notes Loans and Financial Receivables

Loans are stated at unpaid balances, net of unearned income and deferred loan fees. Balances within the major loans receivable categories are presented in the following table:

(Dollars in Thousands)	June 30, 2012		December 31, 2011		June 30, 2011
Commercial, financial and agricultural	$	174,903	$	142,960	$	150,377
Real estate – construction and development		124,556		130,270		143,684
Real estate – commercial and farmland		675,404		672,765		681,228
Real estate – residential		332,124		330,727		336,485
Consumer installment		41,431		37,296		35,584
Other		17,071		18,068		12,705
	$	1,365,489	$	1,332,086	$	1,360,063

Summary of Covered Loans According to Loan Type

Covered loans are shown below according to loan type as of the end of the periods shown:

(Dollars in Thousands)	June 30, 2012		December 31, 2011		June 30, 2011
Commercial, financial and agricultural	$	41,372	$	41,867	$	42,494
Real estate – construction and development		83,991		77,077		79,540
Real estate – commercial and farmland		322,393		321,257		229,924
Real estate – residential		150,683		127,644		129,721
Consumer installment		3,298		3,644		4,810
	$	601,737	$	571,489	$	486,489

Summary of Impaired Financial Receivables

The following is a summary of information pertaining to covered impaired loans:

	As of and For the Period Ended
	June 30, 2012		December 31, 2011		June 30, 2011
	(Dollars in Thousands)
Nonaccrual loans	$	151,225	$	159,999	$	135,545
Troubled debt restructurings not included above		14,842		19,884		9,312
Total impaired loans	$	166,067	$	179,883	$	144,857
Impaired loans not requiring a related allowance	$	166,067	$	179,883	$	144,857
Impaired loans requiring a related allowance	$	—	$	—	$	—
Allowance related to impaired loans	$	—	$	—	$	—
Average investment in impaired loans	$	178,130	$	138,950	$	119,950
Interest income recognized on impaired loans	$	628	$	526	$	287
Foregone interest income on impaired loans	$	482	$	202	$	122

The following table presents an analysis of information pertaining to impaired covered loans as of June 30, 2012, December 31, 2011 and June 30, 2011.

	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
	(Dollars in Thousands)
As of June 30, 2012:
Commercial, financial & agricultural	$	22,616	$	13,464	$	—	$	13,464	$	—	$	13,250
Real estate – construction & development		46,439		30,586		—		30,586		—		34,260
Real estate – commercial & farmland		110,388		81,330		—		81,330		—		85,639
Real estate – residential		58,645		40,033		—		40,033		—		44,393
Consumer installment loans		1,034		654		—		654		—		588
Total	$	239,122	$	166,067	$	—	$	166,067	$	—	$	178,130
	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
	(Dollars in Thousands)
As of December 31, 2011:
Commercial, financial & agricultural	$	21,352	$	12,027	$	—	$	12,027	$	—	$	10,210
Real estate – construction & development		47,005		34,363		—		34,363		—		30,610
Real estate – commercial & farmland		106,953		84,740		—		84,740		—		56,607
Real estate – residential		68,411		48,280		—		48,280		—		40,675
Consumer installment loans		623		473		—		473		—		848
Total	$	244,344	$	179,883	$	—	$	179,883	$	—	$	138,950
	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
	(Dollars in Thousands)
As of June 30, 2011:
Commercial, financial & agricultural	$	23,421	$	11,866	$	—	$	11,866	$	—	$	8,943
Real estate – construction & development		75,282		31,131		—		31,131		—		28,435
Real estate – commercial & farmland		101,453		57,422		—		57,422		—		44,234
Real estate – residential		71,421		43,733		—		43,733		—		37,233
Consumer installment loans		807		705		—		705		—		1,105
Total	$	272,384	$	144,857	$	—	$	144,857	$	—	$	119,950

Summary of Trouble Debt Restructuring by Loan Class

The following table presents the amount of troubled debt restructurings by loan class, classified separately as accrual and non-accrual at June 30, 2012 and December 31, 2011.

As of June 30, 2012	Accruing Loans				Non-Accruing Loans
Loan class:	#		Balance (in thousands)		#		Balance (in thousands)
Commercial, financial & agricultural		—	$	—		1	$	18
Real estate – construction & development		5		1,205		2		1,124
Real estate – commercial & farmland		16		13,293		2		2,815
Real estate – residential		24		8,472		5		1,213
Total		45	$	22,970		10	$	5,170

As of December 31, 2011	Accruing Loans				Non-Accruing Loans
Loan class:	#		Balance (in thousands)		#		Balance (in thousands)
Real estate – construction & development		6	$	1,774		5	$	2,122
Real estate – commercial & farmland		14		9,622		2		4,737
Real estate – residential		19		6,555		4		1,296
Total		39	$	17,951		11	$	8,155

Summary of Troubled Debt Restructuring by Loan Class

The following table presents the amount of troubled debt restructurings by loan class, classified separately as those currently paying under restructured terms and those that have defaulted under restructured terms at June 30, 2012 and December 31, 2011.

As of June 30, 2012	Loans Currently Paying Under Restructured Terms				Loans that have Defaulted Under Restructured Terms
Loan class:	#		Balance (in thousands)		#		Balance (in thousands)
Commercial, financial & agricultural		1	$	18		—	$	—
Real estate – construction & development		6		2,305		1		24
Real estate – commercial & farmland		18		16,108		—		—
Real estate – residential		25		8,529		4		1,156
Total		50	$	26,960		5	$	1,180

As of December 31, 2011	Loans Currently Paying Under Restructured Terms				Loans that have Defaulted Under Restructured Terms
Loan class:	#		Balance (in thousands)		#		Balance (in thousands)
Real estate – construction & development		7	$	2,897		4	$	999
Real estate – commercial & farmland		15		11,695		1		2,664
Real estate – residential		20		6,862		3		989
Total		42	$	21,454		8	$	4,652

Summary of Troubled Debt Restructuring by Concessions Made Types

The following table presents the amount of troubled debt restructurings by types of concessions made, classified separately as accrual and non-accrual at June 30, 2012 and December 31, 2011.

As of June 30, 2012	Accruing Loans				Non-Accruing Loans
Type of Concession:	#		Balance (in thousands)		#		Balance (in thousands)
Forbearance of Interest		3	$	2,092		—	$	—
Forgiveness of Principal		4		1,897		—		—
Payment Modification Only		1		91		1		251
Rate Reduction Only		8		6,141		4		929
Rate Reduction, Forbearance of Interest		12		8,292		4		2,891
Rate Reduction, Forbearance of Principal		16		4,401		1		1,099
Rate Reduction, Payment Modification		1		56		—		—
Total		45	$	22,970		10	$	5,170

As of December 31, 2011	Accruing Loans				Non-Accruing Loans
Type of Concession:	#		Balance (in thousands)		#		Balance (in thousands)
Forbearance of Interest		1	$	311		—	$	—
Forgiveness of Principal		2		902		1		136
Payment Modification Only		1		92		1		307
Rate Reduction Only		7		4,192		4		1,145
Rate Reduction, Forbearance of Interest		14		9,347		—		—
Rate Reduction, Forbearance of Principal		14		3,107		1		1,123
Rate Reduction, Payment Modification		—		—		4		5,444
Total		39	$	17,951		11	$	8,155

Summary of Troubled Debt Restructurings by Collateral Types

The following table presents the amount of troubled debt restructurings by collateral types, classified separately as accrual and non-accrual at June 30, 2012 and December 31, 2011.

As of June 30, 2012	Accruing Loans				Non-Accruing Loans
Collateral type:	#		Balance (in thousands)		#		Balance (in thousands)
Warehouse		1	$	1,341		—	$	—
Raw Land		5		2,878		—		—
Hotel & Motel		3		2,406		—		—
Office		2		1,513		1		2,770
Retail, including Strip Centers		8		6,228		1		45
1-4 Family Residential		26		8,604		8		2,355
Total		45	$	22,970		10	$	5,170

As of December 31, 2011	Accruing Loans				Non-Accruing Loans
Collateral type:	#		Balance (in thousands)		#		Balance (in thousands)
Apartments		1	$	1,347		—	$	—
Raw Land		3		1,549		2		618
Hotel & Motel		1		503		1		2,072
Office		3		1,077		—		—
Retail, including Strip Centers		9		6,694		1		2,665
1-4 Family Residential		22		6,781		7		2,800
Total		39	$	17,951		11	$	8,155

Activity of Allowance for Loan Losses

Activity in the allowance for loan losses for the six months ended June 30, 2012, for the year ended December 31, 2011 and for the six months ended June 30, 2011 is as follows:

(Dollars in Thousands)	June 30, 2012			December 31, 2011			June 30, 2011
Balance, January 1	$	35,156		$	34,576		$	34,576
Provision for loan losses charged to expense		18,670			30,341			14,554
Loans charged off		(28,075	)		(31,623	)		(15,626	)
Recoveries of loans previously charged off		447			1,862			1,019
Ending balance	$	26,198		$	35,156		$	34,523

Schedule of Allowances for Loan Losses by Portfolio Segment

The following table details activity in the allowance for loan losses by portfolio segment for the six months ended June 30, 2012, the year ended December 31, 2011 and the six months ended June 30, 2011. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

	Commercial, financial & agricultural			Real estate - construction & development			Real estate - commercial & farmland			Real estate - residential			Consumer installment loans and Other			Total
	(Dollars in thousands)
Balance, January 1, 2012	$	2,918		$	9,438		$	14,226		$	8,128		$	446		$	35,156
Provision for loan losses		425			1,795			11,153			3,751			1,546			18,670
Loans charged off		(654	)		(5,211	)		(17,484	)		(4,374	)		(352	)		(28,075	)
Recoveries of loans previously charged off		78			19			24			162			164			447
Balance, June 30, 2012	$	2,767		$	6,041		$	7,919		$	7,667		$	1,804		$	26,198
Period-end amount allocated to:
Loans individually evaluated for impairment	$	623		$	898		$	1,999		$	3,109		$	3		$	6,632
Loans collectively evaluated for impairment		2,144			5,143			5,920			4,558			1,801			19,566
Ending balance	$	2,767		$	6,041		$	7,919		$	7,667		$	1,804		$	26,198
Loans:
Individually evaluated for impairment	$	2,776		$	7,173		$	24,838		$	19,088		$	16		$	53,891
Collectively evaluated for impairment		172,127			117,383			650,566			313,036			58,486			1,311,598
Ending balance	$	174,903		$	124,556		$	675,404		$	332,124		$	58,502		$	1,365,489
	Commercial, financial & agricultural			Real estate - construction & development			Real estate - commercial & farmland			Real estate - residential			Consumer installment loans and Other			Total
	(Dollars in thousands)
Balance, January 1, 2011	$	2,779		$	7,705		$	14,971		$	8,664		$	457		$	34,576
Provision for loan losses		5,772			11,354			7,883			4,717			615			30,341
Loans charged off		(5,807	)		(10,988	)		(8,680	)		(5,399	)		(749	)		(31,623	)
Recoveries of loans previously charged off		174			1,367			52			146			123			1,862
Balance, December 31, 2011	$	2,918		$	9,438		$	14,226		$	8,128		$	446		$	35,156
Period-end amount allocated to:
Loans individually evaluated for impairment	$	766		$	3,478		$	8,152		$	3,567		$	3		$	15,966
Loans collectively evaluated for impairment		2,152			5,960			6,074			4,561			443			19,190
Ending balance	$	2,918		$	9,438		$	14,226		$	8,128		$	446		$	35,156
Loans:
Individually evaluated for impairment	$	2,831		$	13,561		$	45,084		$	16,080		$	17		$	77,573
Collectively evaluated for impairment		140,129			116,709			627,681			314,647			55,347			1,254,513
Ending balance	$	142,960		$	130,270		$	672,765		$	330,727		$	55,364		$	1,332,086

	Commercial, financial & agricultural			Real estate - construction & development			Real estate - commercial & farmland			Real estate - residential			Consumer installment loans and Other			Total
	(Dollars in thousands)
Balance, January 1, 2011	$	2,779		$	7,705		$	14,971		$	8,664		$	457		$	34,576
Provision for loan losses		3,234			3,683			4,908			2,466			263			14,554
Loans charged off		(3,241	)		(5,247	)		(4,889	)		(1,944	)		(305	)		(15,626	)
Recoveries of loans previously charged off		68			829			6			59			57			1,019
Balance, June 30, 2011	$	2,840		$	6,970		$	14,996		$	9,245		$	472		$	34,523
Period-end amount allocated to:
Loans individually evaluated for impairment	$	949		$	2,680		$	5,383		$	3,165		$	16		$	12,193
Loans collectively evaluated for impairment		1,891			4,290			9,613			6,080			456			22,330
Ending balance	$	2,840		$	6,970		$	14,996		$	9,245		$	472		$	34,523
Loans:
Individually evaluated for impairment	$	3,509		$	12,110		$	39,289		$	15,199		$	63		$	70,170
Collectively evaluated for impairment		146,868			131,574			641,939			321,286			48,226			1,289,893
Ending balance	$	150,377		$	143,684		$	681,228		$	336,485		$	48,289		$	1,360,063

Non-Covered Loans

Summary of Financial Receivable Nonaccrual Basis

The following table presents an analysis of non-covered loans accounted for on a nonaccrual basis:

(Dollars in Thousands)	June 30, 2012		December 31, 2011		June 30, 2011
Commercial, financial and agricultural	$	4,968	$	3,987	$	5,439
Real estate – construction and development		8,979		15,020		13,714
Real estate – commercial and farmland		13,728		35,385		24,205
Real estate – residential		15,542		15,498		16,625
Consumer installment		1,204		933		562
	$	44,421	$	70,823	$	60,545

Summary of Past Due Financial Receivables

The following table presents an analysis of non-covered past due loans as of June 30, 2012, December 31, 2011 and June 30, 2011.

	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
	(Dollars in Thousands)
As of June 30, 2012:
Commercial, financial & agricultural	$	531	$	701	$	4,371	$	5,603	$	169,300	$	174,903	$	—
Real estate – construction & development		1,986		2,119		7,855		11,960		112,596		124,556		—
Real estate – commercial & farmland		5,282		6,930		8,597		20,809		654,595		675,404		—
Real estate – residential		5,665		3,885		14,782		24,332		307,792		332,124		—
Consumer installment loans		545		220		1,117		1,883		39,548		41,431		1
Other		—		—		—		—		17,071		17,071		—
Total	$	14,009	$	13,855	$	36,722	$	64,587	$	1,300,902	$	1,365,489	$	1
	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
	(Dollars in Thousands)
As of December 30, 2011:
Commercial, financial & agricultural	$	1,103	$	705	$	3,975	$	5,783	$	137,177	$	142,960	$	—
Real estate – construction & development		2,395		1,507		13,608		17,510		112,760		130,270		—
Real estate – commercial & farmland		6,686		7,071		32,953		46,710		626,055		672,765		—
Real estate – residential		5,229		4,995		12,874		23,098		307,629		330,727		—
Consumer installment loans		963		305		725		1,993		35,303		37,296		—
Other		—		—		—		—		18,068		18,068		—
Total	$	16,376	$	14,583	$	64,135	$	95,094	$	1,236,992	$	1,332,086	$	—
	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
	(Dollars in Thousands)
As of June 30, 2011:
Commercial, financial & agricultural	$	653	$	282	$	5,334	$	6,269	$	144,108	$	150,377	$	—
Real estate – construction & development		1,551		1,243		13,194		15,988		127,696		143,684		—
Real estate – commercial & farmland		8,494		807		23,898		33,199		648,029		681,228		—
Real estate – residential		5,086		2,729		14,539		22,354		314,131		336,485		—
Consumer installment loans		525		178		493		1,196		34,388		35,584		—
Other		—		—		—		—		12,705		12,705		—
Total	$	16,309	$	5,239	$	57,458	$	79,006	$	1,281,057	$	1,360,063	$	—

Summary of Impaired Financial Receivables

The following is a summary of information pertaining to non-covered impaired loans:

	As of and For the Period Ended
	June 30, 2012		December 31, 2011		June 30, 2011
	(Dollars in Thousands)
Nonaccrual loans	$	44,421	$	70,823	$	60,545
Troubled debt restructurings not included above		22,970		17,951		21,756
Total impaired loans	$	67,391	$	88,774	$	82,301
Impaired loans not requiring a related allowance	$	—	$	—	$	—
Impaired loans requiring a related allowance	$	67,391	$	88,774	$	82,301
Allowance related to impaired loans	$	7,136	$	18,478	$	15,328
Average investment in impaired loans	$	78,432	$	88,320	$	76,136
Interest income recognized on impaired loans	$	153	$	637	$	150
Foregone interest income on impaired loans	$	332	$	613	$	249

The following table presents an analysis of information pertaining to non-covered impaired loans as of June 30, 2012, December 31, 2011 and June 30, 2011.

	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
	(Dollars in Thousands)
As of June 30, 2012:
Commercial, financial & agricultural	$	8,116	$	—	$	4,968	$	4,968	$	692	$	4,936
Real estate – construction & development		18,805		—		10,184		10,184		1,070		12,611
Real estate – commercial & farmland		32,265		—		27,021		27,021		2,081		37,111
Real estate – residential		27,069		—		24,014		24,014		3,254		22,637
Consumer installment loans		1,331		—		1,204		1,204		39		1,137
Total	$	87,586	$	—	$	67,391	$	67,391	$	7,136	$	78,432

	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
	(Dollars in Thousands)
As of December 31, 2011:
Commercial, financial & agricultural	$	9,592	$	—	$	5,110	$	5,110	$	1,366	$	5,700
Real estate – construction & development		21,893		—		15,672		15,672		4,053		18,667
Real estate – commercial & farmland		48,688		—		45,006		45,006		8,331		42,192
Real estate – residential		25,309		—		22,053		22,053		4,499		21,081
Consumer installment loans		1,056		—		933		933		229		680
Total	$	106,538	$	—	$	88,774	$	88,774	$	18,478	$	88,320
	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
	(Dollars in Thousands)
As of June 30, 2011:
Commercial, financial & agricultural	$	9,229	$	—	$	3,853	$	3,853	$	1,586	$	4,391
Real estate – construction & development		26,562		—		12,198		12,198		3,695		16,113
Real estate – commercial & farmland		42,445		—		33,045		33,045		5,096		38,738
Real estate – residential		24,118		—		17,456		17,456		4,810		16,451
Consumer installment loans		732		—		421		421		141		443
Total	$	103,086	$	—	$	66,973	$	66,973	$	15,328	$	76,136

Summary of Credit Quality Indicate Financial Receivable

The following table presents the non-covered loan portfolio by risk grade as of June 30, 2012.

Risk Grade	Commercial, financial & agricultural		Real estate - construction & development		Real estate - commercial & farmland		Real estate - residential		Consumer installment loans		Other		Total
	(Dollars in Thousands)
10	$	20,395	$	17	$	230	$	414	$	7,226	$	—	$	28,282
15		11,909		3,628		158,608		75,752		1,260		—		251,157
20		79,985		39,077		287,874		93,018		23,537		17,071		540,562
23		—		6,691		9,578		13,839		23		—		30,131
25		54,072		57,266		170,342		109,269		7,035		—		397,984
30		1,404		4,018		17,870		12,461		554		—		36,307
40		7,137		13,703		30,902		27,306		1,776		—		80,824
50		1		156		—		65		20		—		242
60		—		—		—		—		—		—		—
Total	$	174,903	$	124,556	$	675,404	$	332,124	$	41,431	$	17,071	$	1,365,489

The following table presents the non-covered loan portfolio by risk grade as of December 31, 2011.

Risk Grade	Commercial, financial & agricultural		Real estate - construction & development		Real estate - commercial & farmland		Real estate - residential		Consumer installment loans		Other		Total
	(Dollars in Thousands)
10	$	17,213	$	20	$	235	$	252	$	6,210	$	—	$	23,930
15		15,379		5,391		151,068		88,586		1,065		—		261,489
20		60,631		32,654		272,241		80,989		20,781		18,068		485,364
23		32		7,994		10,679		10,997		28		—		29,730
25		42,815		62,029		163,554		110,786		7,181		—		386,365
30		2,509		2,027		21,490		15,001		557		—		41,584
40		4,258		19,864		53,498		23,867		1,460		—		102,947
50		123		291		—		249		14		—		677
60		—		—		—		—		—		—		—
Total	$	142,960	$	130,270	$	672,765	$	330,727	$	37,296	$	18,068	$	1,332,086

The following table presents the non-covered loan portfolio by risk grade as of June 30, 2011.

Risk Grade	Commercial, financial & agricultural		Real estate - construction & development		Real estate - commercial & farmland		Real estate - residential		Consumer installment loans		Other		Total
	(Dollars in Thousands)
10	$	13,799	$	213	$	329	$	109	$	5,926	$	—	$	20,376
15		11,307		3,483		151,047		35,416		899		—		202,152
20		61,543		36,007		274,185		128,581		21,477		12,705		534,498
23		1,614		7,360		8,484		12,346		29		—		29,833
25		54,635		67,615		157,862		121,094		5,927		—		407,133
30		1,477		6,071		44,388		13,028		564		—		65,528
40		5,362		22,659		44,933		25,911		747		—		99,612
50		640		276		—		—		6		—		922
60		—		—		—		—		9		—		9
Total	$	150,377	$	143,684	$	681,228	$	336,485	$	35,584	$	12,705	$	1,360,063

Covered Loans

Summary of Financial Receivable Nonaccrual Basis

The following table presents an analysis of covered loans accounted for on a nonaccrual basis:

(Dollars in Thousands)	June 30, 2012		December 31, 2011		June 30, 2011
Commercial, financial and agricultural	$	13,406	$	11,952	$	11,809
Real estate – construction and development		28,225		30,977		31,131
Real estate – commercial and farmland		71,271		75,458		55,771
Real estate – residential		37,669		41,139		36,129
Consumer installment		654		473		705
	$	151,225	$	159,999	$	135,545

Summary of Past Due Financial Receivables

The following table presents an analysis of covered past due loans as of June 30, 2012, December 31, 2011 and June 30, 2011.

	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
	(Dollars in Thousands)
As of June 30, 2012:
Commercial, financial & agricultural	$	851	$	754	$	12,703	$	14,308	$	27,064	$	41,372	$	298
Real estate – construction & development		2,688		3,007		25,021		30,716		53,275		83,991		—
Real estate – commercial & farmland		12,452		7,656		60,879		80,987		241,406		322,393		891
Real estate – residential		5,366		3,180		31,607		40,153		110,530		150,683		78
Consumer installment loans		70		40		430		540		2,758		3,298		—
Total	$	21,427	$	14,637	$	130,640	$	166,704	$	435,033	$	601,737	$	1,267
	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
	(Dollars in Thousands)
As of December 30, 2011:
Commercial, financial & agricultural	$	968	$	4,297	$	11,253	$	16,518	$	25,349	$	41,867	$	—
Real estate – construction & development		2,444		1,318		27,867		31,629		45,448		77,077		—
Real estate – commercial & farmland		18,282		8,544		64,091		90,917		230,340		321,257		165
Real estate – residential		3,485		1,493		35,950		40,928		86,716		127,644		290
Consumer installment loans		127		270		440		837		2,807		3,644		—
Total	$	25,306	$	15,922	$	139,601	$	180,829	$	390,660	$	571,489	$	455
	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
	(Dollars in Thousands)
As of June 30, 2011:
Commercial, financial & agricultural	$	1,201	$	635	$	11,047	$	12,883	$	29,611	$	42,494	$	313
Real estate – construction & development		1,424		1,068		28,531		31,023		48,517		79,540		75
Real estate – commercial & farmland		3,941		6,075		52,287		62,303		167,621		229,924		2,223
Real estate – residential		2,445		3,403		33,354		39,202		90,519		129,721		444
Consumer installment loans		76		47		645		768		4,042		4,810		—
Total	$	9,087	$	11,228	$	125,864	$	146,179	$	340,310	$	486,489	$	3,055

Summary of Credit Quality Indicate Financial Receivable

The following table presents the covered loan portfolio by risk grade as of June 30, 2012.

Risk Grade	Commercial, financial & agricultural		Real estate - construction & development		Real estate - commercial & farmland		Real estate - residential		Consumer installment loans		Other		Total
	(Dollars in Thousands)
10	$	172	$	9	$	—	$	857	$	412	$	—	$	1,450
15		115		47		1,717		560		10		—		2,449
20		5,963		15,440		37,729		38,108		745		—		97,985
23		11		1,602		3,784		1,840		—		—		7,237
25		13,545		19,814		139,886		49,254		1,254		—		223,753
30		4,544		9,843		38,306		10,873		89		—		63,655
40		17,017		37,236		100,971		49,080		788		—		205,092
50		5		—		—		111		—		—		116
60		—		—		—		—		—		—		—
Total	$	41,372	$	83,991	$	322,393	$	150,683	$	3,298	$	—	$	601,737

The following table presents the covered loan portfolio by risk grade as of December 31, 2011.

Risk Grade	Commercial, financial & agricultural		Real estate - construction & development		Real estate - commercial & farmland		Real estate - residential		Consumer installment loans		Other		Total
	(Dollars in Thousands)
10	$	442	$	—	$	—	$	1,329	$	768	$	—	$	2,539
15		29		52		1,755		586		14		—		2,436
20		4,807		5,751		26,211		19,216		687		—		56,672
23		—		1,177		3,262		1,038		—		—		5,477
25		15,531		21,142		137,981		43,606		1,308		—		219,568
30		5,882		10,654		49,642		12,374		172		—		78,724
40		15,176		38,273		102,406		49,495		695		—		206,045
50		—		28		—		—		—		—		28
60		—		—		—		—		—		—		—
Total	$	41,867	$	77,077	$	321,257	$	127,644	$	3,644	$	—	$	571,489

The following table presents the covered loan portfolio by risk grade as of June 30, 2011.

Risk Grade	Commercial, financial & agricultural		Real estate - construction & development		Real estate - commercial & farmland		Real estate - residential		Consumer installment loans		Other		Total
	(Dollars in Thousands)
10	$	614	$	—	$	—	$	—	$	543	$	—	$	1,157
15		63		53		650		476		20		—		1,262
20		7,872		6,240		28,951		19,630		1,182		—		63,875
23		280		105		1,047		855		—		—		2,287
25		13,860		20,458		83,901		48,744		1,719		—		168,682
30		4,351		11,425		29,231		9,540		257		—		54,804
40		15,250		41,259		86,144		50,112		1,089		—		193,854
50		204		—		—		364		—		—		568
60		—		—		—		—		—		—		—
Total	$	42,494	$	79,540	$	229,924	$	129,721	$	4,810	$	—	$	486,489