Loans

12 Months Ended

Dec. 31, 2011

Loans and Allowance for Loan Losses [Abstract]

Loans

Note 4 – Loans

A summary of loan balances follows (in thousands):

	December 31, 2011
	Originated			PNCI			PCI - Cash basis			PCI - Other			Total
Mortgage loans on real estate:
Residential 1-4 family	$	118,320		$	14,750			—		$	6,516		$	139,586
Commercial		699,682			93,428			—			33,226			826,336
Total mortgage loan on real estate		818,002			108,178			—			39,742			965,922
Consumer:
Home equity lines of credit		321,834			20,902		$	8,615			5,954			357,305
Home equity loans		14,320			367			—			157			14,844
Auto Indirect		10,821			—			—			—			10,821
Other		20,270			3,041			—			49			23,360
Total consumer loans		367,245			24,310			8,615			6,160			406,330
Commercial		123,486			1,805			811			13,029			139,131
Construction:
Residential		13,908			—			—			8,214			22,122
Commercial		12,744			—			—			4,783			17,527
Total construction		26,652			—			—			12,997			39,649
Total loans, net of deferred loan fees	$	1,335,385		$	134,293		$	9,426		$	71,928		$	1,551,032
Total principal balance of loans owed, net of charge-offs	$	1,337,693		$	152,549		$	22,137		$	94,660		$	1,607,039
Unamortized net deferred loan fees		(2,308	)		—			—			—			(2,308	)
Discounts to principal balance of loans owed, net of charge-offs		—			(18,256	)		(12,711	)		(22,732	)		(53,699	)
Total loans, net of unamortized deferred loan fees	$	1,335,385		$	134,293		$	9,426		$	71,928		$	1,551,032
Noncovered loans	$	1,335,385		$	134,293		$	9,426		$	22,857		$	1,501,961
Covered loans		—			—			—			49,071			49,071
Total loans, net of unamortized deferred loan fees	$	1,335,385		$	134,293		$	9,426		$	71,928		$	1,551,032
Allowance for loan loss	$	(41,458	)	$	(245	)	$	(1,034	)	$	(3,177	)	$	(45,914	)

A summary of loan balances follows (in thousands):

	December 31, 2010
	Originated			PNCI		PCI - Cash basis		PCI - Other			Total
Mortgage loans on real estate:
Residential 1-4 family	$	122,890			—		—	$	7,597		$	130,487
Commercial		679,245			—		—		25,739			704,984
Total mortgage loan on real estate		802,135			—		—		33,336			835,471
Consumer:
Home equity lines of credit		330,737			—		—		7,072			337,809
Home equity loans		17,676			—		—		—			17,676
Auto Indirect		24,657			—		—		—			24,657
Other		15,629			—		—		—			15,629
Total consumer loans		388,699			—		—		7,072			395,771
Commercial		133,049			—		—		10,364			143,413
Construction:
Residential		19,442			—		—		4,463			23,905
Commercial		21,011			—		—		—			21,011
Total construction		40,453			—		—		4,463			44,916
Total loans, net of deferred loan fees	$	1,364,336			—		—	$	55,235		$	1,419,571
Total principal balance of loans owed, net of charge-offs	$	1,366,113			—		—	$	64,349		$	1,430,462
Unamortized net deferred loan fees		(1,777	)		—		—		—			(1,777	)
Discounts to principal balance of loans owed, net of charge-offs		—			—		—		(9,114	)		(9,114	)
Total loans, net of unamortized deferred loan fees	$	1,364,336			—		—	$	55,235		$	1,419,571
Noncovered loans	$	1,364,336			—		—		—		$	1,364,336
Covered loans		—			—		—	$	55,235			55,235
Total loans, net of unamortized deferred loan fees	$	1,364,336			—		—	$	55,235		$	1,419,571
Allowance for loan loss	$	(40,963	)		—		—	$	(1,608	)	$	(42,571	)

The following is a summary of the change in accretable yield for PCI – other loans during the periods indicated (in thousands):

	Year ended December 31,
	2011			2010
Change in accretable yield:
Balance at beginning of period	$	17,717			—
Acquisitions		10,146		$	23,151
Accretion to interest income		(5,457	)		(3,548	)
Reclassification (to) from nonaccretable difference		2,739			(1,886	)
Balance at end of period	$	25,145		$	17,717

Throughout these financial statements, and in particular in this Note 4 and Note 5, when we refer to “Loans” or “Allowance for loan losses” we mean all categories of loans, including Originated, PNCI, PCI – cash basis, and PCI—other. When we are not referring to all categories of loans, we will indicate which we are referring to – Originated, PNCI, PCI – cash basis, or PCI—other.