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LOANS (excluding covered loans) (Tables) (Non Covered Loans)
 9 Months Ended
Sep. 30, 2013
Non Covered Loans
  
Commercial and Consumer Credit Exposure by Risk Attribute
Commercial and consumer credit exposure by risk attribute was as follows:
 
 
As of September 30, 2013
 
 
 
 
Real Estate
 
 
(Dollars in thousands)
 
Commercial
 
Construction
 
Commercial
 
Total
Pass
 
$
914,021

 
$
86,942

 
$
1,391,039

 
$
2,392,002

Special Mention
 
29,061

 
225

 
29,786

 
59,072

Substandard
 
16,934

 
2,922

 
73,144

 
93,000

Doubtful
 
0

 
0

 
0

 
0

Total
 
$
960,016

 
$
90,089

 
$
1,493,969

 
$
2,544,074


(Dollars in thousands)
 
Real Estate
Residential
 
Installment
 
Home Equity
 
Other
 
Total
Performing
 
$
343,484

 
$
48,852

 
$
370,968

 
$
110,814

 
$
874,118

Nonperforming
 
9,346

 
421

 
2,871

 
86

 
12,724

Total
 
$
352,830

 
$
49,273

 
$
373,839

 
$
110,900

 
$
886,842


 
 
As of December 31, 2012
 
 
 
 
Real Estate
 
 
(Dollars in thousands)
 
Commercial
 
Construction
 
Commercial
 
Total
Pass
 
$
803,351

 
$
64,866

 
$
1,307,370

 
$
2,175,587

Special Mention
 
29,663

 
65

 
38,516

 
68,244

Substandard
 
28,019

 
8,586

 
71,122

 
107,727

Doubtful
 
0

 
0

 
0

 
0

Total
 
$
861,033

 
$
73,517

 
$
1,417,008

 
$
2,351,558


(Dollars in thousands)
 
Real Estate
Residential
 
Installment
 
Home Equity
 
Other
 
Total
Performing
 
$
310,341

 
$
56,358

 
$
364,248

 
$
84,490

 
$
815,437

Nonperforming
 
7,869

 
452

 
3,252

 
496

 
12,069

Total
 
$
318,210

 
$
56,810

 
$
367,500

 
$
84,986

 
$
827,506
Loan Delinquency, including Nonaccrual Loans
Loan delinquency, including loans classified as nonaccrual, was as follows:
 
 
As of September 30, 2013
(Dollars in thousands)
 
30 – 59
days
past due
 
60 – 89
days
past due
 
> 90 days
past due
 
Total
past
due
 
Current
 
Total
 
> 90 days
past due
and
 accruing
Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
1,018

 
$
678

 
$
9,294

 
$
10,990

 
$
949,026

 
$
960,016

 
$
0

Real estate - construction
 
23

 
0

 
1,098

 
1,121

 
88,968

 
90,089

 
0

Real estate - commercial
 
8,280

 
2,747

 
23,569

 
34,596

 
1,459,373

 
1,493,969

 
0

Real estate - residential
 
1,705

 
1,230

 
6,484

 
9,419

 
343,411

 
352,830

 
0

Installment
 
389

 
38

 
371

 
798

 
48,475

 
49,273

 
0

Home equity
 
735

 
442

 
1,525

 
2,702

 
371,137

 
373,839

 
0

Other
 
424

 
111

 
351

 
886

 
110,014

 
110,900

 
265

Total
 
$
12,574

 
$
5,246

 
$
42,692

 
$
60,512

 
$
3,370,404

 
$
3,430,916

 
$
265


 
 
As of December 31, 2012
(Dollars in thousands)
 
30 - 59
days
past due
 
60 - 89
days
past due
 
> 90 days
past due
 
Total
past
due
 
Current
 
Total
 
> 90 days
past due and accruing
Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
1,770

 
$
832

 
$
4,197

 
$
6,799

 
$
854,234

 
$
861,033

 
$
0

Real estate - construction
 
0

 
0

 
892

 
892

 
72,625

 
73,517

 
0

Real estate - commercial
 
2,549

 
1,931

 
27,966

 
32,446

 
1,384,562

 
1,417,008

 
0

Real estate - residential
 
6,071

 
1,463

 
6,113

 
13,647

 
304,563

 
318,210

 
0

Installment
 
280

 
148

 
344

 
772

 
56,038

 
56,810

 
0

Home equity
 
1,311

 
869

 
1,440

 
3,620

 
363,880

 
367,500

 
0

Other
 
386

 
168

 
708

 
1,262

 
83,724

 
84,986

 
212

Total
 
$
12,367

 
$
5,411

 
$
41,660

 
$
59,438

 
$
3,119,626

 
$
3,179,064

 
$
212
Loans Restructured During Period
The following tables provide information on loan modifications classified as TDRs during the three and nine months ended September 30, 2013 and 2012.
 
Three months ended
 
September 30, 2013
 
September 30, 2012
(Dollars in thousands)
Number of loans
 
Pre-modification loan balance
 
Period end balance
 
Number of loans
 
Pre-modification loan balance
 
Period end balance
Commercial
4

 
$
494

 
$
490

 
6

 
$
3,787

 
$
4,027

Real estate - construction
0

 
0

 
0

 
0

 
0

 
0

Real estate - commercial
10

 
2,502

 
2,493

 
8

 
5,105

 
5,077

Real estate - residential
3

 
387

 
367

 
0

 
0

 
0

Installment
3

 
34

 
33

 
0

 
0

 
0

Home equity
5

 
294

 
216

 
0

 
0

 
0

Total
25

 
$
3,711

 
$
3,599

 
14

 
$
8,892

 
$
9,104


 
 
Nine months ended
 
September 30, 2013
 
September 30, 2012
(Dollars in thousands)
Number of loans
 
Pre-modification loan balance
 
Period end balance
 
Number of loans
 
Pre-modification loan balance
 
Period end balance
Commercial
14

 
$
8,233

 
$
6,105

 
16

 
$
8,358

 
$
8,589

Real estate - construction
0

 
0

 
0

 
0

 
0

 
0

Real estate - commercial
17

 
4,752

 
4,719

 
22

 
9,854

 
9,795

Real estate - residential
33

 
2,356

 
2,178

 
2

 
164

 
166

Installment
14

 
188

 
115

 
0

 
0

 
0

Home equity
35

 
1,176

 
887

 
0

 
0

 
0

Total
113

 
$
16,705

 
$
14,004

 
40

 
$
18,376

 
$
18,550
Loans Restructured, Modifications
The following table provides information on how TDRs were modified during the three and nine months ended September 30, 2013 and 2012.
 
Three months ended
 
Nine months ended
 
September 30, (2)
 
September 30, (2)
(Dollars in thousands)
2013
 
2012
 
2013
 
2012
Extended maturities
$
2,179

 
$
6,144

 
$
8,848

 
$
13,404

Adjusted interest rates
0
 
0
 
520

 
166

Combination of rate and maturity changes
613
 
0
 
850

 
563

Forbearance
0
 
2,565
 
0

 
3,801

Other (1)
807
 
395
 
3,786

 
616

Total
$
3,599

 
$
9,104

 
$
14,004

 
$
18,550

(1) Includes covenant modifications and other concessions, or combination of concessions, that do not consist of interest rate adjustments, forbearance and maturity extensions
(2) Balances are as of period end
Loan Restructuring, Loans with a Payment Default Within 12 Months of Loan Modification
The following table provides information on TDRs for which there was a payment default during the period that occurred within twelve months of the loan modification:
 
 
September 30,
 
 
2013
 
2012
(Dollars in thousands)
 
Number of Loans
 
Period End Balance
 
Number of Loans
 
Period End Balance
Commercial
 
4
 
$
4,882

 
2
 
$
1,133

Real estate - construction
 
0
 
0
 
0
 
0
Real estate - commercial
 
2
 
63
 
0
 
0
Real estate - residential
 
3
 
185
 
0
 
0
Installment
 
4
 
26
 
0
 
0
Home equity
 
5
 
64
 
0
 
0
Total
 
18
 
$
5,220

 
2
 
$
1,133
Nonaccrual, Restructured and Impaired Loans
Loans classified as nonaccrual and loans modified as TDRs are considered impaired. The following table provides information on nonaccrual loans, TDRs and total impaired loans.
(Dollars in thousands)
 
September 30, 2013
 
December 31, 2012
Impaired loans
 
 
 
 
Nonaccrual loans (1)
 
 
 
 
Commercial
 
$
8,554

 
$
15,893

Real estate-construction
 
1,099

 
2,102

Real estate-commercial
 
35,549

 
34,977

Real estate-residential
 
9,346

 
7,869

Installment
 
421

 
452

Home equity
 
2,871

 
3,252

Other
 
86

 
496

Nonaccrual loans (1)
 
57,926

 
65,041

Accruing troubled debt restructurings
 
16,278

 
10,856

Total impaired loans
 
$
74,204

 
$
75,897

(1) Nonaccrual loans include nonaccrual TDRs of $13.0 million and $14.1 million as of September 30, 2013 and December 31, 2012, respectively.


 
Three months ended
 
Nine months ended
 
September 30,
 
September 30,
(Dollars in thousands)
2013
 
2012
 
2013
 
2012
Interest income effect on impaired loans
 
 
 
 
 
 
 
Gross amount of interest that would have been recorded under original terms
$
1,142

 
$
1,145

 
$
3,399

 
$
3,734

Interest included in income
 
 
 
 
 
 
 
Nonaccrual loans
130

 
158

 
472

 
586

Troubled debt restructurings
115

 
95

 
316

 
247

Total interest included in income
245

 
253

 
788

 
833

Net impact on interest income
$
897

 
$
892

 
$
2,611

 
$
2,901

 
 
 
 
 
 
 
 
Commitments outstanding to borrowers with nonaccrual loans
 
 
 
 
$
0

 
$
2,977
Investment in Impaired Loans
First Financial's investment in impaired loans was as follows:
 
 
As of September 30, 2013
(Dollars in thousands)
 
Current Balance
 
Contractual
Principal
Balance
 
Related
Allowance
 
Average
Current
Balance
 
YTD Interest
Income
Recognized
 
Quarterly Interest
Income
Recognized
Loans with no related allowance recorded
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
6,420

 
$
8,480

 
$
0

 
$
12,087

 
$
141

 
$
17

Real estate - construction
 
1,099

 
1,671

 
0

 
693

 
0

 
0

Real estate - commercial
 
16,583

 
20,727

 
0

 
17,615

 
317

 
108

Real estate - residential
 
11,042

 
12,866

 
0

 
10,208

 
111

 
39

Installment
 
489

 
531

 
0

 
418

 
4

 
1

Home equity
 
3,100

 
3,807

 
0

 
3,129

 
32

 
11

Other
 
86

 
86

 
0

 
185

 
0

 
0

 
 
 
 
 
 
 
 
 
 
 
 
 
Loans with an allowance recorded
 
 
 
 
 
 
 
 
 
 
Commercial
 
6,134

 
7,500

 
1,645

 
4,556

 
58

 
8

Real estate - construction
 
0

 
0

 
0

 
907

 
7

 
0

Real estate - commercial
 
27,123

 
31,628

 
6,371

 
23,463

 
89

 
50

Real estate - residential
 
2,027

 
2,082

 
348

 
1,992

 
28

 
10

Installment
 
0

 
0

 
0

 
0

 
0

 
0

Home equity
 
101

 
101

 
2

 
101

 
1

 
1

Other
 
0

 
0

 
0

 
209

 
0

 
0

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
 

 
 

 
 

 
 

 
 

 
 
Commercial
 
12,554

 
15,980

 
1,645

 
16,643

 
199

 
25

Real estate - construction
 
1,099

 
1,671

 
0

 
1,600

 
7

 
0

Real estate - commercial
 
43,706

 
52,355

 
6,371

 
41,078

 
406

 
158

Real estate - residential
 
13,069

 
14,948

 
348

 
12,200

 
139

 
49

Installment
 
489

 
531

 
0

 
418

 
4

 
1

Home equity
 
3,201

 
3,908

 
2

 
3,230

 
33

 
12

Other
 
86

 
86

 
0

 
394

 
0

 
0

Total
 
$
74,204

 
$
89,479

 
$
8,366

 
$
75,563

 
$
788

 
$
245


 
 
As of December 31, 2012
(Dollars in thousands)
 
Current
Balance
 
Contractual
Principal
Balance
 
Related
Allowance
 
Average
Current
Balance
 
Interest
Income
Recognized
Loans with no related allowance recorded
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
14,961

 
$
17,269

 
$
0

 
$
9,337

 
$
215

Real estate - construction
 
462

 
672

 
0

 
3,857

 
15

Real estate - commercial
 
15,782

 
21,578

 
0

 
15,554

 
277

Real estate - residential
 
9,222

 
10,817

 
0

 
8,463

 
81

Installment
 
452

 
556

 
0

 
452

 
2

Home equity
 
3,251

 
4,132

 
0

 
2,423

 
19

Other
 
326

 
326

 
0

 
65

 
0

 
 
 
 
 
 
 
 
 
 
 
Loans with an allowance recorded
 
 
 
 
 
 
 
 
 
 
Commercial
 
3,560

 
4,252

 
1,151

 
5,350

 
161

Real estate - construction
 
1,640

 
2,168

 
838

 
5,033

 
81

Real estate - commercial
 
24,014

 
25,684

 
7,155

 
25,499

 
235

Real estate - residential
 
1,956

 
2,003

 
290

 
2,278

 
38

Installment
 
0

 
0

 
0

 
0

 
0

Home equity
 
101

 
101

 
2

 
81

 
1

Other
 
170

 
170

 
92

 
34

 
0

 
 
 
 
 
 
 
 
 
 
 
Total
 
 

 
 

 
 

 
 

 
 

Commercial
 
18,521

 
21,521

 
1,151

 
14,687

 
376

Real estate - construction
 
2,102

 
2,840

 
838

 
8,890

 
96

Real estate - commercial
 
39,796

 
47,262

 
7,155

 
41,053

 
512

Real estate - residential
 
11,178

 
12,820

 
290

 
10,741

 
119

Installment
 
452

 
556

 
0

 
452

 
2

Home equity
 
3,352

 
4,233

 
2

 
2,504

 
20

Other
 
496

 
496

 
92

 
99

 
0

Total
 
$
75,897

 
$
89,728

 
$
9,528

 
$
78,426

 
$
1,125
Changes in Other Real Estate Owned
Changes in OREO were as follows:
 
 
Three months ended
 
Nine months ended
 
 
September 30,
 
September 30,
(Dollars in thousands)
 
2013
 
2012
 
2013
 
2012
Balance at beginning of period
 
$
11,798

 
$
15,688

 
$
12,526

 
$
11,317

Additions
 
 
 
 
 
 
 
 
Commercial
 
608

 
539

 
2,924

 
5,888

Residential
 
265

 
406

 
645

 
2,320

Total additions
 
873

 
945

 
3,569

 
8,208

Disposals
 
 

 
 
 
 

 
 
Commercial
 
500

 
1,209

 
2,382

 
2,221

Residential
 
154

 
413

 
805

 
1,025

Total disposals
 
654

 
1,622

 
3,187

 
3,246

Write-downs
 
 

 
 
 
 

 
 
Commercial
 
71

 
1,041

 
632

 
2,181

Residential
 
142

 
58

 
472

 
186

Total write-downs
 
213

 
1,099

 
1,104

 
2,367

Balance at end of period
 
$
11,804

 
$
13,912

 
$
11,804

 
$
13,912