Loans

6 Months Ended

Jun. 30, 2012

Loans [Abstract]

Loans

Note 4 – Loans

A summary of loan balances follows (in thousands):

	June 30, 2012
	Originated			PNCI			PCI - Cash basis			PCI - Other			Total
Mortgage loans on real estate:
Residential 1-4 family	$	119,505		$	8,444			—		$	6,066		$	134,015
Commercial		740,782			76,938		$	1,136			31,276			850,132
Total mortgage loan on real estate		860,287			85,382			1,136			37,342			984,147
Consumer:
Home equity lines of credit		314,973			17,995			8,222			5,727			346,917
Home equity loans		13,526			543			49			156			14,274
Auto Indirect		6,496			—			—			—			6,496
Other		22,670			2,852			—			39			25,561
Total consumer loans		357,665			21,390			8,271			5,922			393,248
Commercial		127,123			1,223			698			10,689			139,733
Construction:
Residential		10,793			—			—			8,466			19,259
Commercial		12,387			—			—			3,708			16,095
Total construction		23,180			—			—			12,174			35,354
Total loans, net of deferred loan fees	$	1,368,255		$	107,995		$	10,105		$	66,127		$	1,552,482
Total principal balance of loans owed, net of charge-offs	$	1,370,309		$	123,833		$	22,340		$	82,715		$	1,599,197
Unamortized net deferred loan fees		(2,054	)		—			—			—			(2,054	)
Discounts to principal balance of loans owed, net of charge-offs		—			(15,838	)		(12,235	)		(16,588	)		(44,661	)
Total loans, net of unamortized deferred loan fees	$	1,368,255		$	107,995		$	10,105		$	66,127		$	1,552,482
Noncovered loans	$	1,368,255		$	107,995		$	10,105		$	23,211		$	1,509,566
Covered loans		—			—			—			42,916			42,916
Total loans, net of unamortized deferred loan fees	$	1,368,225		$	107,995		$	10,105		$	66,127		$	1,552,482
Allowance for loan loss	$	(40,360	)	$	(402	)	$	(1,137	)	$	(3,950	)	$	(45,849	)

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	)

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

	Three months ended June 30,						Six months ended June 30,
	2012			2011			2012			2011
Change in accretable yield:
Balance at beginning of period	$	24,615		$	14,399		$	25,145		$	17,717
Acquisitions		—			—			—			—
Accretion to interest income		(1,926	)		(994	)		(3,884	)		(2,028	)
Reclassification (to) from Nonaccretable difference		1,043			52			2,471			(2,232	)
Balance at end of period	$	23,732		$	13,457		$	23,732		$	13,457

Throughout these consolidated 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.