Loans |
Note 4 – Loans
A summary of loan balances follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2015 |
|
|
|
Originated |
|
|
PNCI |
|
|
PCI -
Cash basis |
|
|
PCI -
Other |
|
|
Total |
|
Mortgage loans on real estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 family
|
|
$ |
173,623 |
|
|
$ |
113,991 |
|
|
|
— |
|
|
$ |
3,874 |
|
|
$ |
291,488 |
|
Commercial
|
|
|
1,019,050 |
|
|
|
348,508 |
|
|
|
— |
|
|
|
27,521 |
|
|
|
1,395,079 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total mortgage loan on real estate
|
|
|
1,192,673 |
|
|
|
462,499 |
|
|
|
— |
|
|
|
31,395 |
|
|
|
1,686,567 |
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home equity lines of credit
|
|
|
301,696 |
|
|
|
34,227 |
|
|
|
5,269 |
|
|
|
2,923 |
|
|
|
344,115 |
|
Home equity loans
|
|
|
29,223 |
|
|
|
4,587 |
|
|
|
125 |
|
|
|
637 |
|
|
|
34,572 |
|
Auto Indirect
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Other
|
|
|
29,057 |
|
|
|
3,977 |
|
|
|
— |
|
|
|
67 |
|
|
|
33,101 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total consumer loans
|
|
|
359,976 |
|
|
|
42,791 |
|
|
|
5,394 |
|
|
|
3,627 |
|
|
|
411,788 |
|
Commercial
|
|
|
157,283 |
|
|
|
33,407 |
|
|
|
4 |
|
|
|
5,097 |
|
|
|
195,791 |
|
Construction:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential
|
|
|
26,283 |
|
|
|
14,952 |
|
|
|
— |
|
|
|
723 |
|
|
|
41,958 |
|
Commercial
|
|
|
43,526 |
|
|
|
14,132 |
|
|
|
— |
|
|
|
— |
|
|
|
57,658 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total construction
|
|
|
69,809 |
|
|
|
29,084 |
|
|
|
— |
|
|
|
723 |
|
|
|
99,616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans, net of deferred loan fees and discounts
|
|
$ |
1,779,741 |
|
|
$ |
567,781 |
|
|
$ |
5,398 |
|
|
$ |
40,842 |
|
|
$ |
2,393,762 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total principal balance of loans owed, net of charge-offs
|
|
$ |
1,784,505 |
|
|
$ |
583,746 |
|
|
$ |
13,865 |
|
|
$ |
47,806 |
|
|
$ |
2,429,922 |
|
Unamortized net deferred loan fees
|
|
|
(4,764 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(4,764 |
) |
Discounts to principal balance of loans owed, net of
charge-offs
|
|
|
— |
|
|
|
(15,965 |
) |
|
|
(8,467 |
) |
|
|
(6,964 |
) |
|
|
(31,396 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans, net of unamortized deferred loan fees and
discounts
|
|
$ |
1,779,741 |
|
|
$ |
567,781 |
|
|
$ |
5,398 |
|
|
$ |
40,842 |
|
|
$ |
2,393,762 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noncovered loans
|
|
$ |
1,779,741 |
|
|
$ |
567,781 |
|
|
$ |
5,398 |
|
|
$ |
35,324 |
|
|
$ |
2,388,244 |
|
Covered loans
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,518 |
|
|
|
5,518 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans, net of unamortized deferred loan fees and
discounts
|
|
$ |
1,779,741 |
|
|
$ |
567,781 |
|
|
$ |
5,398 |
|
|
$ |
40,842 |
|
|
$ |
2,393,762 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan losses
|
|
$ |
29,470 |
|
|
$ |
2,763 |
|
|
$ |
312 |
|
|
$ |
2,910 |
|
|
$ |
35,455 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
A summary of loan balances follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2014 |
|
|
|
Originated |
|
|
PNCI |
|
|
PCI -
Cash basis |
|
|
PCI -
Other |
|
|
Total |
|
Mortgage loans on real estate:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 family
|
|
$ |
154,594 |
|
|
$ |
120,821 |
|
|
|
— |
|
|
$ |
4,005 |
|
|
$ |
279,420 |
|
Commercial
|
|
|
928,797 |
|
|
|
376,225 |
|
|
|
— |
|
|
|
30,917 |
|
|
|
1,335,939 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total mortgage loan on real estate
|
|
|
1,083,391 |
|
|
|
497,046 |
|
|
|
— |
|
|
|
34,922 |
|
|
|
1,615,359 |
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home equity lines of credit
|
|
|
305,166 |
|
|
|
38,397 |
|
|
$ |
5,478 |
|
|
|
3,543 |
|
|
|
352,584 |
|
Home equity loans
|
|
|
23,559 |
|
|
|
6,985 |
|
|
|
125 |
|
|
|
645 |
|
|
|
31,314 |
|
Auto Indirect
|
|
|
112 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
112 |
|
Other
|
|
|
28,230 |
|
|
|
4,770 |
|
|
|
— |
|
|
|
74 |
|
|
|
33,074 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total consumer loans
|
|
|
357,067 |
|
|
|
50,152 |
|
|
|
5,603 |
|
|
|
4,262 |
|
|
|
417,084 |
|
Commercial
|
|
|
126,611 |
|
|
|
40,899 |
|
|
|
8 |
|
|
|
7,427 |
|
|
|
174,945 |
|
Construction:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential
|
|
|
21,135 |
|
|
|
16,808 |
|
|
|
— |
|
|
|
675 |
|
|
|
38,618 |
|
Commercial
|
|
|
24,545 |
|
|
|
11,973 |
|
|
|
— |
|
|
|
— |
|
|
|
36,518 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total construction
|
|
|
45,680 |
|
|
|
28,781 |
|
|
|
— |
|
|
|
675 |
|
|
|
75,136 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans, net of deferred loan fees and discounts
|
|
$ |
1,612,749 |
|
|
$ |
616,878 |
|
|
$ |
5,611 |
|
|
$ |
47,286 |
|
|
$ |
2,282,524 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total principal balance of loans owed, net of charge-offs
|
|
$ |
1,617,542 |
|
|
$ |
634,490 |
|
|
$ |
14,805 |
|
|
$ |
56,016 |
|
|
$ |
2,322,853 |
|
Unamortized net deferred loan fees
|
|
|
(4,793 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(4,793 |
) |
Discounts to principal balance of loans owed, net of
charge-offs
|
|
|
— |
|
|
|
(17,612 |
) |
|
|
(9,194 |
) |
|
|
(8,730 |
) |
|
|
(35,536 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans, net of unamortized deferred loan fees and
discounts
|
|
$ |
1,612,749 |
|
|
$ |
616,878 |
|
|
$ |
5,611 |
|
|
$ |
47,286 |
|
|
$ |
2,282,524 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noncovered loans
|
|
$ |
1,612,749 |
|
|
$ |
616,878 |
|
|
$ |
5,611 |
|
|
$ |
25,018 |
|
|
$ |
2,260,256 |
|
Covered loans
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
22,268 |
|
|
|
22,268 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans, net of unamortized deferred loan fees and
discounts
|
|
$ |
1,612,749 |
|
|
$ |
616,878 |
|
|
$ |
5,611 |
|
|
$ |
47,286 |
|
|
$ |
2,282,524 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan losses
|
|
$ |
(29,860 |
) |
|
$ |
(3,296 |
) |
|
$ |
(348 |
) |
|
$ |
(3,081 |
) |
|
$ |
(36,585 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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, |
|
|
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
Change in accretable yield:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period
|
|
$ |
13,402 |
|
|
$ |
17,438 |
|
|
$ |
14,159 |
|
|
$ |
18,232 |
|
Accretion to interest income
|
|
|
(1,375 |
) |
|
|
(1,382 |
) |
|
|
(2,930 |
) |
|
|
(3,013 |
) |
Reclassification from nonaccretable difference
|
|
|
920 |
|
|
|
242 |
|
|
|
1,718 |
|
|
|
1,079 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at end of period
|
|
$ |
12,947 |
|
|
$ |
16,298 |
|
|
$ |
12,947 |
|
|
$ |
16,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|