Loans

6 Months Ended

Jun. 30, 2014

Receivables [Abstract]

Loans

Note 4 – Loans

A summary of loan balances follows (in thousands):

	June 30, 2014
	Originated			PNCI			PCI – Cash basis			PCI – Other			Total
Mortgage loans on real estate:
Residential 1-4 family	$	136,690		$	72,387			—		$	3,843		$	212,920
Commercial		872,125			52,844			—			29,967			954,936
Total mortgage loan on real estate		1,008,815			125,231			—			33,810			1,167,856
Consumer:
Home equity lines of credit		307,964			12,866		$	5,712			3,645			330,187
Home equity loans		17,129			154			126			486			17,895
Auto Indirect		385			—			—			—			385
Other		26,745			1,861			—			70			28,676
Total consumer loans		352,223			14,881			5,838			4,201			377,143
Commercial		130,848			518			11			5,964			137,341
Construction:
Residential		40,595			—			—			1,502			42,097
Commercial		14,084			—			—			65			14,149
Total construction		54,679			—			—			1,567			56,246
Total loans, net of deferred loan fees and discounts	$	1,546,565		$	140,630		$	5,849		$	45,542		$	1,738,586
Total principal balance of loans owed, net of charge-offs	$	1,550,887		$	147,076		$	15,456		$	53,192		$	1,766,611
Unamortized net deferred loan fees		(4,322	)		—			—			—			(4,322	)
Discounts to principal balance of loans owed, net of charge-offs		—			(6,446	)		(9,607	)		(7,650	)		(23,703	)
Total loans, net of unamortized deferred loan fees and discounts	$	1,546,565		$	140,630		$	5,849		$	45,542		$	1,738,586
Noncovered loans	$	1,546,565		$	140,630		$	5,849		$	20,137		$	1,713,181
Covered loans		—			—			—			25,405			25,405
Total loans, net of unamortized deferred loan fees and discounts	$	1,546,565		$	140,630		$	5,849		$	45,542		$	1,738,586
Allowance for loan losses	$	32,457		$	3,235		$	398		$	3,878		$	39,968

Note 4 – Loans (continued)

A summary of loan balances follows (in thousands):

	December 31, 2013
	Originated			PNCI			PCI – Cash basis			PCI – Other			Total
Mortgage loans on real estate:
Residential 1-4 family	$	129,882		$	60,475			—		$	4,656		$	195,013
Commercial		824,912			57,678			—			30,260			912,850
Total mortgage loan on real estate		954,794			118,153			—			34,916			1,107,863
Consumer:
Home equity lines of credit		316,207			13,576		$	6,200			3,883			339,866
Home equity loans		13,849			253			—			486			14,588
Auto Indirect		946			—			—			—			946
Other		25,608			2,074			—			81			27,763
Total consumer loans		356,610			15,903			6,200			4,450			383,163
Commercial		124,650			693			19			6,516			131,878
Construction:
Residential		30,367			—			—			1,566			31,933
Commercial		17,125			—			—			45			17,170
Total construction		47,492			—			—			1,611			49,103
Total loans, net of deferred loan fees and discounts	$	1,483,546		$	134,749		$	6,219		$	47,493		$	1,672,007
Total principal balance of loans owed, net of charge-offs	$	1,487,240		$	142,786		$	16,475		$	56,879		$	1,703,380
Unamortized net deferred loan fees		(3,694	)		—			—			—			(3,694	)
Discounts to principal balance of loans owed, net of charge-offs		—			(8,037	)		(10,256	)		(9,386	)		(27,679	)
Total loans, net of unamortized deferred loan fees and discounts	$	1,483,546		$	134,749		$	6,219		$	47,493		$	1,672,007
Noncovered loans	$	1,483,546		$	134,749		$	6,219		$	19,581		$	1,644,095
Covered loans		—			—			—			27,912			27,912
Total loans, net of unamortized deferred loan fees and discounts	$	1,483,546		$	134,749		$	6,219		$	47,493		$	1,672,007
Allowance for loan losses	$	(31,354	)	$	(2,850	)	$	(385	)	$	(3,656	)	$	(38,245	)

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,
	2014			2013			2014			2013
Change in accretable yield:
Balance at beginning of period	$	17,438		$	20,691		$	18,232		$	22,337
Accretion to interest income		(1,382	)		(1,568	)		(3,013	)		(3,191	)
Reclassification from nonaccretable difference		242			604			1,079			581
Balance at end of period	$	16,298		$	19,727		$	16,298		$	19,727

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.