Assets Acquired in FDIC-Assisted Acquisitions (Tables)

3 Months Ended

Mar. 31, 2015

Banking and Thrift [Abstract]

Schedule of Acquisition Details

From October 2009 through July 2012, the Company participated in ten FDIC-assisted acquisitions whereby the Company purchased certain failed institutions out of the FDIC’s receivership. These institutions include the following:

Bank Acquired	Location	Branches	Date Acquired
American United Bank (“AUB”)	Lawrenceville, Ga.	1	October 23, 2009
United Security Bank (“USB”)	Sparta, Ga.	2	November 6, 2009
Satilla Community Bank (“SCB”)	St. Marys, Ga.	1	May 14, 2010
First Bank of Jacksonville (“FBJ”)	Jacksonville, Fl.	2	October 22, 2010
Tifton Banking Company (“TBC”)	Tifton, Ga.	1	November 12, 2010
Darby Bank & Trust (“DBT”)	Vidalia, Ga.	7	November 12, 2010
High Trust Bank (“HTB”)	Stockbridge, Ga.	2	July 15, 2011
One Georgia Bank (“OGB”)	Midtown Atlanta, Ga.	1	July 15, 2011
Central Bank of Georgia (“CBG”)	Ellaville, Ga.	5	February 24, 2012
Montgomery Bank & Trust (“MBT”)	Ailey, Ga.	2	July 6, 2012

Components of Covered Assets

The following table summarizes components of all covered assets at March 31, 2015, December 31, 2014 and March 31, 2014 and their origin:

	Covered loans		Less: Fair value adjustments		Total covered loans		OREO		Less: Fair value adjustments		Total covered OREO		Total covered assets		FDIC loss-share receivable (payable)
As of March 31, 2015:
AUB	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	248
USB		4,031		19		4,012		165		—		165		4,177		(1,216	)
SCB		23,803		512		23,291		2,474		389		2,085		25,376		2,093
FBJ		19,409		1,539		17,870		427		56		371		18,241		1,366
DBT		53,832		4,740		49,092		5,716		381		5,335		54,427		3,576
TBC		21,068		570		20,498		1,698		162		1,536		22,034		1,545
HTB		48,384		4,331		44,053		2,885		938		1,947		46,000		7,069
OGB		38,699		2,409		36,290		1,435		39		1,396		37,686		2,748
CBG		56,262		5,623		50,639		3,731		477		3,254		53,893		5,883
Total	$	265,488	$	19,743	$	245,745	$	18,531	$	2,442	$	16,089	$	261,834	$	23,312

	Covered loans		Less: Fair value adjustments		Total covered loans		OREO		Less: Fair value adjustments		Total covered OREO		Total covered assets		FDIC loss-share receivable (payable)
As of December 31, 2014:
AUB	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	188
USB		4,350		150		4,200		165		—		165		4,365		(1,197	)
SCB		26,686		602		26,084		2,849		389		2,460		28,544		1,828
FBJ		21,243		1,825		19,418		632		—		632		20,050		1,885
DBT		64,338		6,437		57,901		6,655		514		6,141		64,042		6,860
TBC		23,487		1,117		22,370		2,388		367		2,021		24,391		3,287
HTB		52,699		5,120		47,579		3,670		1,283		2,387		49,966		6,459
OGB		42,971		3,785		39,186		2,244		39		2,205		41,391		3,906
CBG		60,950		6,409		54,541		4,805		909		3,896		58,437		8,135
Total	$	296,724	$	25,445	$	271,279	$	23,408	$	3,501	$	19,907	$	291,186	$	31,351

	Covered loans		Less: Fair value adjustments		Total covered loans		OREO		Less: Fair value adjustments		Total covered OREO		Total covered assets		FDIC loss-share receivable
As of March 31, 2014:
AUB	$	13,629	$	220	$	13,409	$	4,264	$	—	$	4,264	$	17,673	$	1,190
USB		15,668		935		14,733		3,366		135		3,231		17,964		535
SCB		33,896		1,274		32,622		3,122		303		2,819		35,441		2,781
FBJ		24,281		2,768		21,513		1,850		253		1,597		23,110		3,034
DBT		100,909		13,138		87,771		12,250		1,092		11,158		98,929		14,947
TBC		31,576		2,119		29,457		4,681		761		3,920		33,377		3,425
HTB		61,560		6,630		54,930		7,263		2,349		4,914		59,844		8,540
OGB		55,569		4,653		50,916		8,169		2,984		5,185		56,101		6,815
CBG		77,767		10,424		67,343		7,127		1,579		5,548		72,891		11,914
Total	$	414,855	$	42,161	$	372,694	$	52,092	$	9,456	$	42,636	$	415,330	$	53,181

Rollforward of Acquired Covered Loans

A rollforward of acquired covered loans for the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014 is shown below:

(Dollars in Thousands)	March 31, 2015			December 31, 2014			March 31, 2014
Balance, January 1	$	271,279		$	390,237		$	390,237
Charge-offs		(2,812	)		(9,255	)		(4,326	)
Accretion		4,466			22,188			9,767
Transfer to covered other real estate owned		(1,230	)		(13,650	)		(4,925	)
Transfer to purchased, non-covered loans due to loss-share expiration		—			(15,475	)		—
Payments received		(25,958	)		(102,996	)		(18,070	)
Other		—			230			11
Ending balance	$	245,745		$	271,279		$	372,694

Changes in FDIC Shared-Loss Receivable

Changes in the FDIC shared-loss receivable for the three months ended March 31, 2015, for the year ended December 31, 2014 and for the three months ended March 31, 2014 are as follows:

(Dollars in Thousands)	March 31, 2015			December 31, 2014			March 31, 2014
Beginning balance, January 1	$	31,351		$	65,441		$	65,441
Payments received from FDIC		(6,390	)		(22,494	)		(6,773	)
Accretion (amortization)		(3,666	)		(18,449	)		(8,203	)
Changes in clawback liability		(569	)		(1,222	)		(164	)
Increase in receivable due to:
Charge-offs on covered loans		1,602			3,372			2,369
Write downs of covered other real estate		804			4,771			876
Reimbursable expenses on covered assets		651			1,078			483
Other activity, net		(471	)		(1,146	)		(848	)
Ending balance	$	23,312		$	31,351		$	53,181