LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

The following table summarizes the composition of the loan portfolio at June 30, 2013 and December 31, 2012:



	June 30, 2013		December 31, 2012
	(dollars expressed in thousands)
Commercial, financial and agricultural	$	593,403	610,301
Real estate construction and development	167,269		174,979
Real estate mortgage:
One-to-four-family residential	931,986		986,767
Multi-family residential	101,351		103,684
Commercial real estate	963,480		969,680
Consumer and installment	18,159		19,262
Loans held for sale	45,239		66,133
Net deferred loan costs (fees)	62		(59	)
Total loans	$	2,820,949	2,930,747

Past Due Financing Receivables [Table Text Block]

The following table presents the aging of loans by loan classification at June 30, 2013 and December 31, 2012:



	30-59 Days		60-89 Days	Recorded Investment > 90 Days Accruing	Nonaccrual	Total Past Due	Current	Total Loans
	(dollars expressed in thousands)
June 30, 2013:
Commercial, financial and agricultural	$	1,253	1,320	—	14,881	17,454	575,949	593,403
Real estate construction and development	120		75	—	28,305	28,500	138,769	167,269
Real estate mortgage:
Bank portfolio	1,438		491	—	6,051	7,980	93,100	101,080
Mortgage Division portfolio	4,977		2,940	—	19,377	27,294	460,510	487,804
Home equity	1,849		951	350	5,905	9,055	334,047	343,102
Multi-family residential	366		—	—	1,393	1,759	99,592	101,351
Commercial real estate	2,548		1,028	536	13,011	17,123	946,357	963,480
Consumer and installment	93		27	—	35	155	18,066	18,221
Loans held for sale	—		—	—	—	—	45,239	45,239
Total	$	12,644	6,832	886	88,958	109,320	2,711,629	2,820,949
December 31, 2012:
Commercial, financial and agricultural	$	1,180	322	—	19,050	20,552	589,749	610,301
Real estate construction and development	93		—	—	32,152	32,245	142,734	174,979
Real estate mortgage:
Bank portfolio	1,871		1,121	874	6,910	10,776	111,562	122,338
Mortgage Division portfolio	6,264		4,375	—	19,780	30,419	479,552	509,971
Home equity	2,494		1,221	216	8,671	12,602	341,856	354,458
Multi-family residential	—		629	—	6,761	7,390	96,294	103,684
Commercial real estate	66		693	—	16,520	17,279	952,401	969,680
Consumer and installment	174		43	—	28	245	18,958	19,203
Loans held for sale	—		—	—	—	—	66,133	66,133
Total	$	12,142	8,404	1,090	109,872	131,508	2,799,239	2,930,747

Financing Receivable Credit Quality Indicators [Table Text Block]

The following tables present the credit exposure of the loan portfolio by internally assigned credit grade and payment activity as of June 30, 2013 and December 31, 2012:



Commercial Loan Portfolio Credit Exposure by Internally Assigned Credit Grade	Commercial and Industrial		Real Estate Construction and Development	Multi-family	Commercial Real Estate	Total
			(dollars expressed in thousands)
June 30, 2013:
Pass	$	558,894	45,989	70,887	889,690	1,565,460
Special mention	11,645		3,769	363	31,513	47,290
Substandard	7,827		79,175	554	24,686	112,242
Performing troubled debt restructuring	156		10,031	28,154	4,580	42,921
Nonaccrual	14,881		28,305	1,393	13,011	57,590
Total	$	593,403	167,269	101,351	963,480	1,825,503
December 31, 2012:
Pass	$	572,248	45,356	67,690	858,101	1,543,395
Special mention	10,580		6,076	220	70,450	87,326
Substandard	8,423		81,364	773	13,868	104,428
Performing troubled debt restructuring	—		10,031	28,240	10,741	49,012
Nonaccrual	19,050		32,152	6,761	16,520	74,483
Total	$	610,301	174,979	103,684	969,680	1,858,644



One-to-Four-Family Residential Mortgage Bank and Home Equity Loan Portfolio Credit Exposure by Internally Assigned Credit Grade	Bank Portfolio		Home Equity	Total
	(dollars expressed in thousands)
June 30, 2013:
Pass	$	88,022	335,097	423,119
Special mention	6,302		350	6,652
Substandard	—		1,750	1,750
Performing troubled debt restructuring	705		—	705
Nonaccrual	6,051		5,905	11,956
Total	$	101,080	343,102	444,182
December 31, 2012:
Pass	$	107,625	342,321	449,946
Special mention	4,405		216	4,621
Substandard	1,787		3,250	5,037
Performing troubled debt restructuring	1,611		—	1,611
Nonaccrual	6,910		8,671	15,581
Total	$	122,338	354,458	476,796



One-to-Four-Family Residential Mortgage Division and Consumer and Installment Loan Portfolio Credit Exposure by Payment Activity	Mortgage Division Portfolio		Consumer and Installment	Total
	(dollars expressed in thousands)
June 30, 2013:
Pass	$	388,678	18,186	406,864
Substandard	3,724		—	3,724
Performing troubled debt restructuring	76,025		—	76,025
Nonaccrual	19,377		35	19,412
Total	$	487,804	18,221	506,025
December 31, 2012:
Pass	$	405,270	19,175	424,445
Substandard	6,627		—	6,627
Performing troubled debt restructuring	78,294		—	78,294
Nonaccrual	19,780		28	19,808
Total	$	509,971	19,203	529,174

Impaired Financing Receivables [Table Text Block]

The following tables present the recorded investment, unpaid principal balance, related allowance for loan losses, average recorded investment and interest income recognized while on impaired status for impaired loans without a related allowance for loan losses and for impaired loans with a related allowance for loan losses by loan classification at June 30, 2013 and December 31, 2012:



	Recorded Investment		Unpaid Principal Balance	Related Allowance for Loan Losses	Average Recorded Investment	Interest Income Recognized
	(dollars expressed in thousands)
June 30, 2013:
With No Related Allowance Recorded:
Commercial, financial and agricultural	$	5,105	8,560	—	5,614	1
Real estate construction and development	36,504		69,402	—	38,292	277
Real estate mortgage:
Bank portfolio	—		—	—	—	26
Mortgage Division portfolio	10,043		20,702	—	10,247	—
Home equity	625		632	—	753	—
Multi-family residential	28,597		28,863	—	32,141	616
Commercial real estate	12,074		18,107	—	15,909	213
Consumer and installment	—		—	—	—	—
	92,948		146,266	—	102,956	1,133
With A Related Allowance Recorded:
Commercial, financial and agricultural	9,932		25,534	383	10,923	—
Real estate construction and development	1,832		4,376	1,064	1,922	—
Real estate mortgage:
Bank portfolio	6,756		8,488	207	7,786	—
Mortgage Division portfolio	85,359		94,985	12,088	87,094	962
Home equity	5,280		6,142	1,181	6,362	—
Multi-family residential	950		954	753	1,068	—
Commercial real estate	5,517		8,136	730	7,269	13
Consumer and installment	35		35	2	28	—
	115,661		148,650	16,408	122,452	975
Total:
Commercial, financial and agricultural	15,037		34,094	383	16,537	1
Real estate construction and development	38,336		73,778	1,064	40,214	277
Real estate mortgage:
Bank portfolio	6,756		8,488	207	7,786	26
Mortgage Division portfolio	95,402		115,687	12,088	97,341	962
Home equity	5,905		6,774	1,181	7,115	—
Multi-family residential	29,547		29,817	753	33,209	616
Commercial real estate	17,591		26,243	730	23,178	226
Consumer and installment	35		35	2	28	—
	$	208,609	294,916	16,408	225,408	2,108



	Recorded Investment		Unpaid Principal Balance	Related Allowance for Loan Losses	Average Recorded Investment	Interest Income Recognized
	(dollars expressed in thousands)
December 31, 2012:
With No Related Allowance Recorded:
Commercial, financial and agricultural	$	6,451	24,287	—	12,369	215
Real estate construction and development	39,706		74,044	—	59,094	561
Real estate mortgage:
Bank portfolio	1,611		1,690	—	2,166	32
Mortgage Division portfolio	10,255		22,102	—	10,308	—
Home equity	1,382		1,507	—	1,232	—
Multi-family residential	33,709		37,206	—	13,682	280
Commercial real estate	18,808		24,279	—	35,959	1,160
Consumer and installment	—		—	—	—	—
	111,922		185,115	—	134,810	2,248
With A Related Allowance Recorded:
Commercial, financial and agricultural	12,599		19,255	676	24,157	—
Real estate construction and development	2,477		10,221	1,452	3,687	114
Real estate mortgage:
Bank portfolio	6,910		8,655	284	9,288	—
Mortgage Division portfolio	87,819		96,931	11,574	88,277	2,050
Home equity	7,289		8,188	1,784	6,500	—
Multi-family residential	1,292		1,403	1,138	524	—
Commercial real estate	8,453		12,909	1,043	16,161	11
Consumer and installment	28		28	1	51	—
	126,867		157,590	17,952	148,645	2,175
Total:
Commercial, financial and agricultural	19,050		43,542	676	36,526	215
Real estate construction and development	42,183		84,265	1,452	62,781	675
Real estate mortgage:
Bank portfolio	8,521		10,345	284	11,454	32
Mortgage Division portfolio	98,074		119,033	11,574	98,585	2,050
Home equity	8,671		9,695	1,784	7,732	—
Multi-family residential	35,001		38,609	1,138	14,206	280
Commercial real estate	27,261		37,188	1,043	52,120	1,171
Consumer and installment	28		28	1	51	—
	$	238,789	342,705	17,952	283,455	4,423

Troubled Debt Restructurings On Performing Financing Receivables [Table Text Block]

The following table presents the categories of performing TDRs as of June 30, 2013 and December 31, 2012:



	June 30, 2013		December 31, 2012
	(dollars expressed in thousands)
Performing Troubled Debt Restructurings:
Commercial, financial and agricultural	$	156	—
Real estate construction and development	10,031		10,031
Real estate mortgage:
One-to-four-family residential	76,730		79,905
Multi-family residential	28,154		28,240
Commercial real estate	4,580		10,741
Total performing troubled debt restructurings	$	119,651	128,917

Troubled Debt Restructurings On Non Performing Financing Receivables [Table Text Block]

The following table presents the categories of loans considered nonperforming TDRs as of June 30, 2013 and December 31, 2012:



	June 30, 2013		December 31, 2012
	(dollars expressed in thousands)
Nonperforming Troubled Debt Restructurings:
Commercial, financial and agricultural	$	984	1,004
Real estate construction and development	24,733		26,557
Real estate mortgage:
One-to-four-family residential	6,836		7,105
Multi-family residential	—		2,482
Commercial real estate	2,149		2,862
Total nonperforming troubled debt restructurings	$	34,702	40,010

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

The following tables present loans classified as TDRs that were modified during the three and six months ended June 30, 2013 and 2012:



	Three Months Ended June 30, 2013					Three Months Ended June 30, 2012
	Number of Contracts	Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts	Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
	(dollars expressed in thousands)
Loan Modifications Classified as Troubled Debt Restructurings:
Commercial, financial and agricultural	—	$	—	$	—	—	$	—	$	—
Real estate construction and development	—	—		—		—	—		—
Real estate mortgage:
One-to-four-family residential	10	2,647		2,644		15	2,823		2,817
Commercial real estate	1	156		156		—	—		—



	Six Months Ended June 30, 2013					Six Months Ended June 30, 2012
	Number of Contracts	Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts	Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
	(dollars expressed in thousands)
Loan Modifications Classified as Troubled Debt Restructurings:
Commercial, financial and agricultural	1	$	90	$	45	—	$	—	$	—
Real estate construction and development	—	—		—		2	803		390
Real estate mortgage:
One-to-four-family residential	20	4,870		4,542		29	5,427		5,378
Commercial real estate	1	156		156		1	5,018		5,018

Troubled Debt Restructurings That Subsequently Defaulted On Financing Receivables [Table Text Block]

The following tables present TDRs that defaulted within 12 months of modification during the three and six months ended June 30, 2013 and 2012:



	Three Months Ended			Three Months Ended
	June 30, 2013			June 30, 2012
	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
	(dollars expressed in thousands)
Troubled Debt Restructurings That Subsequently Defaulted:
Real estate construction and development	—	$	—	3	$	1,364
Real estate mortgage:
One-to-four-family residential	13	2,525		16	3,587



	Six Months Ended			Six Months Ended
	June 30, 2013			June 30, 2012
	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
	(dollars expressed in thousands)
Troubled Debt Restructurings That Subsequently Defaulted:
Real estate construction and development	—	$	—	3	$	1,364
Real estate mortgage:
One-to-four-family residential	29	4,921		28	5,894

Allowance for Credit Losses on Financing Receivables [Table Text Block]

Changes in the allowance for loan losses for the three and six months ended June 30, 2013 and 2012 were as follows:



	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2013			2012		2013		2012
	(dollars expressed in thousands)
Balance, beginning of period	$	88,170		130,348		91,602		137,710
Loans charged-off	(6,871		)	(17,947	)	(13,754	)	(34,400	)
Recoveries of loans previously charged-off	4,334			7,826		7,785		14,917
Net loans charged-off	(2,537		)	(10,121	)	(5,969	)	(19,483	)
Provision for loan losses	—			—		—		2,000
Balance, end of period	$	85,633		120,227		85,633		120,227

The following table represents a summary of changes in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2013:



	Commercial and Industrial			Real Estate Construction and Development		One-to- Four-Family Residential		Multi- Family Residential		Commercial Real Estate		Consumer and Installment		Total
	(dollars expressed in thousands)
Three Months Ended June 30, 2013:
Allowance for loan losses:
Beginning balance	$	14,168		13,003		36,660		4,202		19,720		417		88,170
Charge-offs	(1,010		)	(166	)	(4,338	)	(159	)	(1,156	)	(42	)	(6,871	)
Recoveries	1,023			1,321		1,288		141		522		39		4,334
Provision (benefit) for loan losses	(215		)	(2,746	)	1,656		(62	)	1,487		(120	)	—
Ending balance	$	13,966		11,412		35,266		4,122		20,573		294		85,633

Six Months Ended June 30, 2013:
Allowance for loan losses:
Beginning balance	$	13,572		14,434		38,897		4,252		20,048		399		91,602
Charge-offs	(1,686		)	(448	)	(8,727	)	(162	)	(2,633	)	(98	)	(13,754	)
Recoveries	2,090			1,716		2,519		141		1,240		79		7,785
Provision (benefit) for loan losses	(10		)	(4,290	)	2,577		(109	)	1,918		(86	)	—
Ending balance	$	13,966		11,412		35,266		4,122		20,573		294		85,633

The following table represents a summary of changes in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2012:



	Commercial and Industrial			Real Estate Construction and Development		One-to- Four-Family Residential		Multi- Family Residential		Commercial Real Estate		Consumer and Installment		Total
	(dollars expressed in thousands)
Three Months Ended June 30, 2012:
Allowance for loan losses:
Beginning balance	$	24,782		24,518		46,670		4,679		29,273		426		130,348
Charge-offs	(5,152		)	(3,339	)	(4,988	)	(237	)	(4,037	)	(194	)	(17,947	)
Recoveries	2,686			2,986		1,223		32		858		41		7,826
Provision (benefit) for loan losses	(301		)	(2,336	)	797		342		1,377		121		—
Ending balance	$	22,015		21,829		43,702		4,816		27,471		394		120,227

Six Months Ended June 30, 2012:
Allowance for loan losses:
Beginning balance	$	27,243		24,868		50,864		4,851		29,448		436		137,710
Charge-offs	(10,233		)	(6,423	)	(8,916	)	(1,169	)	(7,390	)	(269	)	(34,400	)
Recoveries	5,744			3,719		2,475		43		2,846		90		14,917
Provision (benefit) for loan losses	(739		)	(335	)	(721	)	1,091		2,567		137		2,000
Ending balance	$	22,015		21,829		43,702		4,816		27,471		394		120,227

Impairment Method by Loan Category [Table Text Block]

The following table represents a summary of the impairment method used by loan category at June 30, 2013 and December 31, 2012:



	Commercial and Industrial		Real Estate Construction and Development	One-to- Four-Family Residential	Multi- Family Residential	Commercial Real Estate	Consumer and Installment	Total
	(dollars expressed in thousands)
June 30, 2013:
Allowance for loan losses:
Impaired loans individually evaluated for impairment	$	—	87	3,666	—	282	—	4,035
Impaired loans collectively evaluated for impairment	383		977	9,810	753	448	2	12,373
All other loans collectively evaluated for impairment	13,583		10,348	21,790	3,369	19,843	292	69,225
Total	$	13,966	11,412	35,266	4,122	20,573	294	85,633
Financing receivables:
Impaired loans individually evaluated for impairment	$	5,479	36,828	13,839	28,840	12,351	—	97,337
Impaired loans collectively evaluated for impairment	9,558		1,508	94,224	707	5,240	35	111,272
All other loans collectively evaluated for impairment	578,366		128,933	823,923	71,804	945,889	18,186	2,567,101
Total	$	593,403	167,269	931,986	101,351	963,480	18,221	2,775,710

December 31, 2012:
Allowance for loan losses:
Impaired loans individually evaluated for impairment	$	75	121	3,187	33	182	—	3,598
Impaired loans collectively evaluated for impairment	601		1,331	10,455	1,105	861	1	14,354
All other loans collectively evaluated for impairment	12,896		12,982	25,255	3,114	19,005	398	73,650
Total	$	13,572	14,434	38,897	4,252	20,048	399	91,602
Financing receivables:
Impaired loans individually evaluated for impairment	$	7,884	39,155	16,843	34,636	20,965	—	119,483
Impaired loans collectively evaluated for impairment	11,166		3,028	98,423	365	6,296	28	119,306
All other loans collectively evaluated for impairment	591,251		132,796	871,501	68,683	942,419	19,175	2,625,825
Total	$	610,301	174,979	986,767	103,684	969,680	19,203	2,864,614