LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

9 Months Ended

Sep. 30, 2014

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

The following table summarizes the composition of the loan portfolio at September 30, 2014 and December 31, 2013:



(dollars in thousands)	September 30, 2014			December 31, 2013
Commercial, financial and agricultural	$	645,862		600,704
Real estate construction and development	75,609			121,662
Real estate mortgage:
One-to-four-family residential	997,581			921,488
Multi-family residential	126,310			121,304
Commercial real estate	1,089,430			1,048,234
Consumer and installment	16,840			18,681
Loans held for sale	28,866			25,548
Net deferred loan fees	(921		)	(526	)
Total loans	$	2,979,577		2,857,095

Past Due Financing Receivables [Table Text Block]

The following table presents the aging of loans by loan classification at September 30, 2014 and December 31, 2013:



(dollars in thousands)	30-59 Days		60-89 Days	Recorded Investment > 90 Days Accruing	Nonaccrual	Total Past Due	Current	Total Loans
September 30, 2014:
Commercial, financial and agricultural	$	506	661	197	11,508	12,872	632,990	645,862
Real estate construction and development	—		178	—	4,191	4,369	71,240	75,609
Real estate mortgage:
Residential mortgage	3,770		1,320	252	15,326	20,668	600,629	621,297
Home equity	1,087		123	320	6,979	8,509	367,775	376,284
Multi-family residential	—		—	—	726	726	125,584	126,310
Commercial real estate	916		51	—	9,127	10,094	1,079,336	1,089,430
Consumer and installment and net deferred loan fees	57		52	26	4	139	15,780	15,919
Loans held for sale	—		—	—	—	—	28,866	28,866
Total	$	6,336	2,385	795	47,861	57,377	2,922,200	2,979,577

December 31, 2013:
Commercial, financial and agricultural	$	447	394	80	10,523	11,444	589,260	600,704
Real estate construction and development	—		—	—	4,914	4,914	116,748	121,662
Real estate mortgage:
Residential mortgage	4,262		2,637	162	20,063	27,124	545,040	572,164
Home equity	2,256		963	182	7,361	10,762	338,562	349,324
Multi-family residential	—		—	—	1,793	1,793	119,511	121,304
Commercial real estate	1,423		391	—	8,283	10,097	1,038,137	1,048,234
Consumer and installment and net deferred loan fees	87		39	—	19	145	18,010	18,155
Loans held for sale	—		—	—	—	—	25,548	25,548
Total	$	8,475	4,424	424	52,956	66,279	2,790,816	2,857,095

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 September 30, 2014 and December 31, 2013:



Commercial Loan Portfolio Credit Exposure by Internally Assigned Credit Grade (dollars in thousands)	Commercial and Industrial		Real Estate Construction and Development	Multi-family	Commercial Real Estate	Total
September 30, 2014:
Pass	$	598,309	70,735	93,829	1,048,210	1,811,083
Special mention	20,532		141	6,278	23,075	50,026
Substandard	15,226		178	610	4,591	20,605
Performing troubled debt restructuring	287		364	24,867	4,427	29,945
Nonaccrual	11,508		4,191	726	9,127	25,552
Total	$	645,862	75,609	126,310	1,089,430	1,937,211
December 31, 2013:
Pass	$	559,243	42,429	91,001	1,001,719	1,694,392
Special mention	16,211		929	—	21,714	38,854
Substandard	14,727		73,390	555	11,999	100,671
Performing troubled debt restructuring	—		—	27,955	4,519	32,474
Nonaccrual	10,523		4,914	1,793	8,283	25,513
Total	$	600,704	121,662	121,304	1,048,234	1,891,904



Consumer Loan Portfolio Credit Exposure by Payment Activity (dollars in thousands)	Residential Mortgage		Home Equity	Consumer and Installment and Net Deferred Loan Fees	Total
September 30, 2014:
Pass	$	523,867	367,775	15,781	907,423
Substandard	4,380		1,530	134	6,044
Performing troubled debt restructuring	77,724		—	—	77,724
Nonaccrual	15,326		6,979	4	22,309
Total	$	621,297	376,284	15,919	1,013,500
December 31, 2013:
Pass	$	468,642	338,562	18,010	825,214
Substandard	5,306		3,401	126	8,833
Performing troubled debt restructuring	78,153		—	—	78,153
Nonaccrual	20,063		7,361	19	27,443
Total	$	572,164	349,324	18,155	939,643

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 September 30, 2014 and December 31, 2013:



(dollars in thousands)	Recorded Investment		Unpaid Principal Balance	Related Allowance for Loan Losses	Average Recorded Investment	Interest Income Recognized
September 30, 2014:
With No Related Allowance Recorded:
Commercial, financial and agricultural	$	5,157	6,777	—	5,212	—
Real estate construction and development	2,869		12,389	—	2,890	—
Real estate mortgage:
Residential mortgage	—		—	—	—	—
Home equity	—		—	—	—	—
Multi-family residential	—		—	—	—	—
Commercial real estate	4,681		5,168	—	4,330	87
Consumer and installment	—		—	—	—	—
	12,707		24,334	—	12,432	87
With A Related Allowance Recorded:
Commercial, financial and agricultural	6,638		20,579	598	6,708	2
Real estate construction and development	1,686		4,356	231	1,698	12
Real estate mortgage:
Residential mortgage	93,050		110,018	7,905	96,014	1,561
Home equity	6,979		7,898	1,396	7,112	—
Multi-family residential	25,593		28,602	3,188	27,737	857
Commercial real estate	8,873		11,356	2,162	8,209	20
Consumer and installment	4		4	—	12	—
	142,823		182,813	15,480	147,490	2,452
Total:
Commercial, financial and agricultural	11,795		27,356	598	11,920	2
Real estate construction and development	4,555		16,745	231	4,588	12
Real estate mortgage:
Residential mortgage	93,050		110,018	7,905	96,014	1,561
Home equity	6,979		7,898	1,396	7,112	—
Multi-family residential	25,593		28,602	3,188	27,737	857
Commercial real estate	13,554		16,524	2,162	12,539	107
Consumer and installment	4		4	—	12	—
	$	155,530	207,147	15,480	159,922	2,539



(dollars in thousands)	Recorded Investment		Unpaid Principal Balance	Related Allowance for Loan Losses	Average Recorded Investment	Interest Income Recognized
December 31, 2013:
With No Related Allowance Recorded:
Commercial, financial and agricultural	$	3,119	4,342	—	4,270	1
Real estate construction and development	3,172		12,931	—	17,152	418
Real estate mortgage:
Residential mortgage	—		—	—	—	—
Home equity	596		632	—	564	—
Multi-family residential	443		709	—	474	—
Commercial real estate	6,884		9,221	—	11,636	273
Consumer and installment	—		—	—	—	—
	14,214		27,835	—	34,096	692
With A Related Allowance Recorded:
Commercial, financial and agricultural	7,404		21,565	497	10,136	—
Real estate construction and development	1,742		4,326	294	9,419	—
Real estate mortgage:
Residential mortgage	98,216		118,305	9,740	102,775	2,043
Home equity	6,765		7,637	1,472	6,406	—
Multi-family residential	29,305		29,322	2,438	31,377	1,226
Commercial real estate	5,918		9,468	990	10,003	26
Consumer and installment	19		19	—	22	—
	149,369		190,642	15,431	170,138	3,295
Total:
Commercial, financial and agricultural	10,523		25,907	497	14,406	1
Real estate construction and development	4,914		17,257	294	26,571	418
Real estate mortgage:
Residential mortgage	98,216		118,305	9,740	102,775	2,043
Home equity	7,361		8,269	1,472	6,970	—
Multi-family residential	29,748		30,031	2,438	31,851	1,226
Commercial real estate	12,802		18,689	990	21,639	299
Consumer and installment	19		19	—	22	—
	$	163,583	218,477	15,431	204,234	3,987

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

The following table presents the categories of performing TDRs as of September 30, 2014 and December 31, 2013:



(dollars in thousands)	September 30, 2014		December 31, 2013
Performing Troubled Debt Restructurings:
Commercial, financial and agricultural	$	287	—
Real estate construction and development	364		—
Real estate mortgage:
One-to-four-family residential	77,724		78,153
Multi-family residential	24,867		27,955
Commercial real estate	4,427		4,519
Total performing troubled debt restructurings	$	107,669	110,627

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

The following table presents the categories of loans considered nonperforming TDRs as of September 30, 2014 and December 31, 2013:



(dollars in thousands)	September 30, 2014		December 31, 2013
Nonperforming Troubled Debt Restructurings:
Commercial, financial and agricultural	$	456	711
Real estate construction and development	3,479		3,605
Real estate mortgage:
One-to-four-family residential	4,145		6,266
Total nonperforming troubled debt restructurings	$	8,080	10,582

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

The following tables present loans classified as TDRs that were modified during the three and nine months ended September 30, 2014 and 2013:



	Three Months Ended September 30, 2014					Three Months Ended September 30, 2013
(dollars in thousands)	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
Loan Modifications Classified as Troubled Debt Restructurings:
Commercial, financial and agricultural	1	$	287	$	287	—	$	—	$	—
Real estate mortgage:
One-to-four-family residential	14	2,167		2,095		15	3,405		3,095



	Nine Months Ended September 30, 2014					Nine Months Ended September 30, 2013
(dollars in thousands)	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
Loan Modifications Classified as Troubled Debt Restructurings:
Commercial, financial and agricultural	1	$	287	$	287	2	$	246	$	201
Real estate mortgage:
One-to-four-family residential	41	6,214		5,429		35	8,275		7,637

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 nine months ended September 30, 2014 and 2013:



	Three Months Ended			Three Months Ended
	September 30, 2014			September 30, 2013
(dollars in thousands)	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
Troubled Debt Restructurings That Subsequently Defaulted:
Commercial, financial and agricultural	—	$	—	1	$	156
Real estate mortgage:
One-to-four-family residential	2	183		1	110



	Nine Months Ended			Nine Months Ended
	September 30, 2014			September 30, 2013
(dollars in thousands)	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
Troubled Debt Restructurings That Subsequently Defaulted:
Commercial, financial and agricultural	—	$	—	1	$	156
Real estate mortgage:
One-to-four-family residential	8	1,385		2	193

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

Changes in the allowance for loan losses for the three and nine months ended September 30, 2014 and 2013 were as follows:



	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(dollars in thousands)	2014			2013		2014		2013
Balance, beginning of period	$	78,018		85,633		81,033		91,602
Loans charged-off	(2,234		)	(7,040	)	(11,921	)	(20,794	)
Recoveries of loans previously charged-off	3,910			5,684		10,582		13,469
Net loan recoveries (charge-offs)	1,676			(1,356	)	(1,339	)	(7,325	)
(Benefit) provision for loan losses	(5,000		)	—		(5,000	)	—
Balance, end of period	$	74,694		84,277		74,694		84,277

The following table represents a summary of changes in the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2014:



(dollars in thousands)	Commercial and Industrial			Real Estate Construction and Development		One-to- Four-Family Residential		Multi- Family Residential		Commercial Real Estate		Consumer and Installment		Total
Three Months Ended September 30, 2014:
Allowance for loan losses:
Beginning balance	$	13,731		6,600		29,145		7,374		20,820		348		78,018
Charge-offs	(399		)	(2	)	(1,316	)	(71	)	(436	)	(10	)	(2,234	)
Recoveries	1,763			114		938		114		946		35		3,910
(Benefit) provision for loan losses	(1,236		)	(3,979	)	335		340		(415	)	(45	)	(5,000	)
Ending balance	$	13,859		2,733		29,102		7,757		20,915		328		74,694

Nine Months Ended September 30, 2014:
Allowance for loan losses:
Beginning balance	$	13,401		7,407		32,619		5,249		22,052		305		81,033
Charge-offs	(3,015		)	(67	)	(4,943	)	(3,155	)	(645	)	(96	)	(11,921	)
Recoveries	3,778			1,470		3,207		123		1,918		86		10,582
(Benefit) provision for loan losses	(305		)	(6,077	)	(1,781	)	5,540		(2,410	)	33		(5,000	)
Ending balance	$	13,859		2,733		29,102		7,757		20,915		328		74,694

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



(dollars in thousands)	Commercial and Industrial			Real Estate Construction and Development		One-to- Four-Family Residential		Multi- Family Residential		Commercial Real Estate		Consumer and Installment		Total
Three Months Ended September 30, 2013:
Allowance for loan losses:
Beginning balance	$	13,966		11,412		35,266		4,122		20,573		294		85,633
Charge-offs	(2,241		)	—		(2,256	)	—		(2,488	)	(55	)	(7,040	)
Recoveries	1,773			2,557		879		—		443		32		5,684
Provision (benefit) for loan losses	526			(4,967	)	824		39		3,551		27		—
Ending balance	$	14,024		9,002		34,713		4,161		22,079		298		84,277

Nine Months Ended September 30, 2013:
Allowance for loan losses:
Beginning balance	$	13,572		14,434		38,897		4,252		20,048		399		91,602
Charge-offs	(3,927		)	(448	)	(10,983	)	(162	)	(5,121	)	(153	)	(20,794	)
Recoveries	3,863			4,273		3,398		141		1,683		111		13,469
Provision (benefit) for loan losses	516			(9,257	)	3,401		(70	)	5,469		(59	)	—
Ending balance	$	14,024		9,002		34,713		4,161		22,079		298		84,277

Impairment Method by Loan Category [Table Text Block]

The following table represents a summary of the impairment method used by loan category at September 30, 2014 and December 31, 2013:



(dollars in thousands)	Commercial and Industrial		Real Estate Construction and Development	One-to- Four-Family Residential	Multi- Family Residential	Commercial Real Estate	Consumer and Installment and Net Deferred Loans Fees	Total
September 30, 2014:
Allowance for loan losses:
Impaired loans individually evaluated for impairment	$	—	—	1,198	1,891	1,475	—	4,564
Impaired loans collectively evaluated for impairment	598		231	8,103	1,297	687	—	10,916
All other loans collectively evaluated for impairment	13,261		2,502	19,801	4,569	18,753	328	59,214
Total allowance for loan losses	$	13,859	2,733	29,102	7,757	20,915	328	74,694
Loans:
Impaired loans individually evaluated for impairment	$	5,512	2,869	8,764	24,900	9,176	—	51,221
Impaired loans collectively evaluated for impairment	6,283		1,686	91,265	693	4,378	4	104,309
All other loans collectively evaluated for impairment	634,067		71,054	897,552	100,717	1,075,876	15,915	2,795,181
Total loans	$	645,862	75,609	997,581	126,310	1,089,430	15,919	2,950,711

December 31, 2013:
Allowance for loan losses:
Impaired loans individually evaluated for impairment	$	—	62	2,275	1,034	385	—	3,756
Impaired loans collectively evaluated for impairment	497		232	8,937	1,404	605	—	11,675
All other loans collectively evaluated for impairment	12,904		7,113	21,407	2,811	21,062	305	65,602
Total allowance for loan losses	$	13,401	7,407	32,619	5,249	22,052	305	81,033
Loans:
Impaired loans individually evaluated for impairment	$	3,480	3,440	12,276	28,641	9,168	—	57,005
Impaired loans collectively evaluated for impairment	7,043		1,474	93,301	1,107	3,634	19	106,578
All other loans collectively evaluated for impairment	590,181		116,748	815,911	91,556	1,035,432	18,136	2,667,964
Total loans	$	600,704	121,662	921,488	121,304	1,048,234	18,155	2,831,547