LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

9 Months Ended

Sep. 30, 2015

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

The following table summarizes the composition of the loan portfolio at September 30, 2015 and December 31, 2014:



(dollars in thousands)	September 30, 2015			December 31, 2014
Commercial, financial and agricultural	$	747,144		695,267
Real estate construction and development	148,548			89,851
Real estate mortgage:
One-to-four-family residential:
Residential mortgage	705,377			621,168
Home equity	396,697			395,542
Multi-family residential	94,277			115,434
Commercial real estate	1,286,765			1,183,042
Consumer and installment	19,523			18,950
Net deferred loan fees	(1,817		)	(1,422	)
Total loans held for portfolio	3,396,514			3,117,832
Loans held for sale	39,041			31,411
Total loans	$	3,435,555		3,149,243

Past Due Financing Receivables [Table Text Block]

The following table presents the aging of loans by loan classification at September 30, 2015 and December 31, 2014:



(dollars in thousands)	30-59 Days		60-89 Days	Recorded Investment > 90 Days Accruing	Nonaccrual	Total Past Due	Current	Total Loans
September 30, 2015:
Commercial, financial and agricultural	$	55	161	—	5,402	5,618	741,526	747,144
Real estate construction and development	—		—	—	3,214	3,214	145,334	148,548
Real estate mortgage:
Residential mortgage	3,553		1,761	—	6,600	11,914	693,463	705,377
Home equity	1,509		380	67	4,602	6,558	390,139	396,697
Multi-family residential	—		—	—	290	290	93,987	94,277
Commercial real estate	11		—	—	4,361	4,372	1,282,393	1,286,765
Consumer and installment and net deferred loan fees	140		49	—	17	206	17,500	17,706
Loans held for sale	—		—	—	—	—	39,041	39,041
Total loans	$	5,268	2,351	67	24,486	32,172	3,403,383	3,435,555

December 31, 2014:
Commercial, financial and agricultural	$	132	430	54	9,486	10,102	685,165	695,267
Real estate construction and development	431		—	—	3,393	3,824	86,027	89,851
Real estate mortgage:
Residential mortgage	2,690		986	35	13,890	17,601	603,567	621,168
Home equity	1,857		334	72	6,831	9,094	386,448	395,542
Multi-family residential	—		—	—	19,731	19,731	95,703	115,434
Commercial real estate	196		54	—	4,122	4,372	1,178,670	1,183,042
Consumer and installment and net deferred loan fees	136		33	2	23	194	17,334	17,528
Loans held for sale	—		—	—	—	—	31,411	31,411
Total loans	$	5,442	1,837	163	57,476	64,918	3,084,325	3,149,243

Financing Receivable Credit Quality Indicators [Table Text Block]

The following tables present the credit exposure of loans held for portfolio by internally assigned credit grade and payment activity as of September 30, 2015 and December 31, 2014:



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, 2015:
Pass	$	708,534	140,553	87,738	1,262,093	2,198,918
Special mention	25,884		4,781	5,612	16,736	53,013
Substandard	7,324		—	637	3,575	11,536
Performing troubled debt restructuring	—		—	—	—	—
Nonaccrual	5,402		3,214	290	4,361	13,267
Total	$	747,144	148,548	94,277	1,286,765	2,276,734
December 31, 2014:
Pass	$	653,951	85,973	89,148	1,147,824	1,976,896
Special mention	18,713		143	5,945	20,691	45,492
Substandard	12,833		—	610	6,640	20,083
Performing troubled debt restructuring	284		342	—	3,765	4,391
Nonaccrual	9,486		3,393	19,731	4,122	36,732
Total	$	695,267	89,851	115,434	1,183,042	2,083,594



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, 2015:
Pass	$	619,646	390,139	17,500	1,027,285
Substandard	2,641		1,956	189	4,786
Performing troubled debt restructuring	76,490		—	—	76,490
Nonaccrual	6,600		4,602	17	11,219
Total	$	705,377	396,697	17,706	1,119,780
December 31, 2014:
Pass	$	528,388	386,448	17,334	932,170
Substandard	2,662		2,263	171	5,096
Performing troubled debt restructuring	76,228		—	—	76,228
Nonaccrual	13,890		6,831	23	20,744
Total	$	621,168	395,542	17,528	1,034,238

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, 2015 and December 31, 2014:



(dollars in thousands)	Recorded Investment		Unpaid Principal Balance	Related Allowance for Loan Losses	Average Recorded Investment	Interest Income Recognized ⁽¹⁾
September 30, 2015:
With No Related Allowance Recorded:
Commercial, financial and agricultural	$	2,265	3,226	—	3,003	—
Real estate construction and development	2,615		12,318	—	2,792	—
Real estate mortgage:
Residential mortgage	—		—	—	—	—
Home equity	1,037		1,123	—	1,322	—
Multi-family residential	—		—	—	—	—
Commercial real estate	2,515		2,793	—	2,757	—
Consumer and installment	—		—	—	—	—
	8,432		19,460	—	9,874	—
With A Related Allowance Recorded:
Commercial, financial and agricultural	3,137		5,491	336	4,160	8
Real estate construction and development	599		2,530	200	640	8
Real estate mortgage:
Residential mortgage	83,090		95,993	6,894	86,834	1,782
Home equity	3,565		4,278	974	4,545	—
Multi-family residential	290		468	18	9,834	—
Commercial real estate	1,846		3,484	271	2,024	5
Consumer and installment	17		17	1	13	—
	92,544		112,261	8,694	108,050	1,803
Total:
Commercial, financial and agricultural	5,402		8,717	336	7,163	8
Real estate construction and development	3,214		14,848	200	3,432	8
Real estate mortgage:
Residential mortgage	83,090		95,993	6,894	86,834	1,782
Home equity	4,602		5,401	974	5,867	—
Multi-family residential	290		468	18	9,834	—
Commercial real estate	4,361		6,277	271	4,781	5
Consumer and installment	17		17	1	13	—
	$	100,976	131,721	8,694	117,924	1,803

____________________


(1)	Interest income on impaired loans recognized while on impaired status was $662,000 for the three months ended September 30, 2015.



(dollars in thousands)	Recorded Investment		Unpaid Principal Balance	Related Allowance for Loan Losses	Average Recorded Investment	Interest Income Recognized
December 31, 2014:
With No Related Allowance Recorded:
Commercial, financial and agricultural	$	1,937	2,911	—	2,278	—
Real estate construction and development	2,626		12,333	—	3,106	—
Real estate mortgage:
Residential mortgage	—		—	—	—	—
Home equity	—		—	—	—	—
Multi-family residential	19,050		24,759	—	25,234	959
Commercial real estate	4,119		4,190	—	6,063	116
Consumer and installment	—		—	—	—	—
	27,732		44,193	—	36,681	1,075
With A Related Allowance Recorded:
Commercial, financial and agricultural	7,833		22,089	1,626	9,212	6
Real estate construction and development	1,109		3,403	219	1,312	17
Real estate mortgage:
Residential mortgage	90,118		106,163	7,639	94,835	2,082
Home equity	6,831		7,988	1,366	7,056	—
Multi-family residential	681		3,581	1,157	902	—
Commercial real estate	3,768		5,619	463	5,546	21
Consumer and installment	23		23	1	14	—
	110,363		148,866	12,471	118,877	2,126
Total:
Commercial, financial and agricultural	9,770		25,000	1,626	11,490	6
Real estate construction and development	3,735		15,736	219	4,418	17
Real estate mortgage:
Residential mortgage	90,118		106,163	7,639	94,835	2,082
Home equity	6,831		7,988	1,366	7,056	—
Multi-family residential	19,731		28,340	1,157	26,136	959
Commercial real estate	7,887		9,809	463	11,609	137
Consumer and installment	23		23	1	14	—
	$	138,095	193,059	12,471	155,558	3,201

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

The following table presents the categories of performing TDRs as of September 30, 2015 and December 31, 2014:



(dollars in thousands)	September 30, 2015		December 31, 2014
Performing Troubled Debt Restructurings:
Commercial, financial and agricultural	$	—	284
Real estate construction and development	—		342
Real estate mortgage:
One-to-four-family residential	76,490		76,228
Commercial real estate	—		3,765
Total performing troubled debt restructurings	$	76,490	80,619

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, 2015 and December 31, 2014:



(dollars in thousands)	September 30, 2015		December 31, 2014
Nonperforming Troubled Debt Restructurings:
Commercial, financial and agricultural	$	35	243
Real estate construction and development	2,777		2,788
Real estate mortgage:
One-to-four-family residential	2,059		4,003
Multi-family residential	—		19,050
Commercial real estate	—		371
Total nonperforming troubled debt restructurings	$	4,871	26,455

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, 2015 and 2014:



	Three Months Ended September 30, 2015					Three Months Ended September 30, 2014
(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	4	550		522		14	2,167		2,095



	Nine Months Ended September 30, 2015					Nine Months Ended September 30, 2014
(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	16	2,942		2,788		41	6,214		5,429

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, 2015 and 2014:



	Three Months Ended			Three Months Ended
	September 30, 2015			September 30, 2014
(dollars in thousands)	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
Troubled Debt Restructurings That Subsequently Defaulted:
Real estate mortgage:
One-to-four-family residential	—	$	—	2	$	183



	Nine Months Ended			Nine Months Ended
	September 30, 2015			September 30, 2014
(dollars in thousands)	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
Troubled Debt Restructurings That Subsequently Defaulted:
Real estate mortgage:
One-to-four-family residential	—	$	—	8	$	1,385

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

The following tables represent a summary of changes in the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2015 and 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, 2015:
Allowance for loan losses:
Beginning balance	$	11,321		2,231		22,403		3,430		19,349		82		58,816
Charge-offs	(888		)	—		(172	)	(29	)	(73	)	(27	)	(1,189	)
Recoveries	1,095			383		544		3		56		61		2,142
Provision (benefit) for loan losses	(539		)	(247	)	(1,764	)	(29	)	2,621		(42	)	—
Ending balance	$	10,989		2,367		21,011		3,375		21,953		74		59,769

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
Provision (benefit) 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



(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
Nine months ended September 30, 2015:
Allowance for loan losses:
Beginning balance	$	12,574		3,490		24,055		5,630		20,983		142		66,874
Charge-offs	(4,992		)	(178	)	(1,899	)	(227	)	(918	)	(70	)	(8,284	)
Recoveries	3,520			685		1,957		2,236		177		104		8,679
Provision (benefit) for loan losses	(113		)	(1,630	)	(3,102	)	(4,264	)	1,711		(102	)	(7,500	)
Ending balance	$	10,989		2,367		21,011		3,375		21,953		74		59,769

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
Provision (benefit) 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

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, 2015 and December 31, 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 and Net Deferred Loan Fees	Total
September 30, 2015:
Allowance for loan losses:
Impaired loans individually evaluated for impairment	$	—	—	3,468	—	—	—	3,468
Impaired loans collectively evaluated for impairment	336		200	4,400	18	271	1	5,226
All other loans collectively evaluated for impairment	10,653		2,167	13,143	3,357	21,682	73	51,075
Total allowance for loan losses	$	10,989	2,367	21,011	3,375	21,953	74	59,769
Loans:
Impaired loans individually evaluated for impairment	$	2,210	2,615	39,901	—	2,570	—	47,296
Impaired loans collectively evaluated for impairment	3,192		599	47,791	290	1,791	17	53,680
All other loans collectively evaluated for impairment	741,742		145,334	1,014,382	93,987	1,282,404	17,689	3,295,538
Total loans held for portfolio	$	747,144	148,548	1,102,074	94,277	1,286,765	17,706	3,396,514

December 31, 2014:
Allowance for loan losses:
Impaired loans individually evaluated for impairment	$	1,053	—	1,184	—	—	—	2,237
Impaired loans collectively evaluated for impairment	573		219	7,821	1,157	463	1	10,234
All other loans collectively evaluated for impairment	10,948		3,271	15,050	4,473	20,520	141	54,403
Total allowance for loan losses	$	12,574	3,490	24,055	5,630	20,983	142	66,874
Loans:
Impaired loans individually evaluated for impairment	$	4,712	2,626	7,388	19,050	3,765	—	37,541
Impaired loans collectively evaluated for impairment	5,058		1,109	89,561	681	4,122	23	100,554
All other loans collectively evaluated for impairment	685,497		86,116	919,761	95,703	1,175,155	17,505	2,979,737
Total loans held for portfolio	$	695,267	89,851	1,016,710	115,434	1,183,042	17,528	3,117,832