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Loans and Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2013
Loans and Leases Receivable Disclosure [Abstract]  
Outstanding Balances of Loan
The following table provides outstanding balances related to each of our loan types:
 
 
June 30, 2013
 
December 31, 2012
 
(dollars in thousands)
Commercial, financial, agricultural and other
$
1,012,315

 
$
1,019,822

Real estate construction
66,243

 
87,438

Residential real estate
1,269,830

 
1,241,565

Commercial real estate
1,280,784

 
1,273,661

Loans to individuals
600,580

 
582,218

Total loans and leases net of unearned income
$
4,229,752

 
$
4,204,704
Credit Risk Profile by Creditworthiness
The following tables represent our credit risk profile by creditworthiness:
 
June 30, 2013
 
Commercial, financial, agricultural and other
 
Real estate construction
 
Residential real estate
 
Commercial real estate
 
Loans to individuals
 
Total
 
(dollars in thousands)
Pass
$
933,092

 
$
52,706

 
$
1,253,021

 
$
1,166,928

 
$
600,411

 
$
4,006,158

Non-Pass
 
 
 
 
 
 
 
 
 
 
 
OAEM
35,231

 
1,030

 
4,280

 
71,017

 
2

 
111,560

Substandard
43,992

 
12,507

 
12,529

 
42,839

 
167

 
112,034

Doubtful
—

 
—

 
—

 
—

 
—

 
—

Total Non-Pass
79,223

 
13,537

 
16,809

 
113,856

 
169

 
223,594

Total
$
1,012,315

 
$
66,243

 
$
1,269,830

 
$
1,280,784

 
$
600,580

 
$
4,229,752

 
 
December 31, 2012
 
Commercial, financial, agricultural and other
 
Real estate construction
 
Residential real estate
 
Commercial real estate
 
Loans to individuals
 
Total
 
(dollars in thousands)
Pass
$
925,868

 
$
64,353

 
$
1,224,849

 
$
1,119,093

 
$
582,039

 
$
3,916,202

Non-Pass
 
 
 
 
 
 
 
 
 
 
 
OAEM
31,049

 
925

 
5,647

 
82,581

 
3

 
120,205

Substandard
62,905

 
18,638

 
11,069

 
71,987

 
176

 
164,775

Doubtful
—

 
3,522

 
—

 
—

 
—

 
3,522

Total Non-Pass
93,954

 
23,085

 
16,716

 
154,568

 
179

 
288,502

Total
$
1,019,822

 
$
87,438

 
$
1,241,565

 
$
1,273,661

 
$
582,218

 
$
4,204,704
Age Analysis of Past Due Loans by Segment
The following tables delineate the aging analysis of the recorded investments in past due loans as of June 30, 2013 and December 31, 2012. Also included in these tables are loans that are 90 days or more past due and still accruing because they are well-secured and in the process of collection.
 
 
June 30, 2013
 
30 - 59
days
past due
 
60 - 89
days
past
due
 
90 days
and
greater
and still
accruing
 
Nonaccrual
 
Total past
due and
nonaccrual
 
Current
 
Total
 
(dollars in thousands)
Commercial, financial, agricultural and other
$
814

 
$
34

 
$
289

 
$
20,170

 
$
21,307

 
$
991,008

 
$
1,012,315

Real estate construction
—

 
—

 
—

 
3,073

 
3,073

 
63,170

 
66,243

Residential real estate
5,058

 
1,028

 
1,182

 
10,719

 
17,987

 
1,251,843

 
1,269,830

Commercial real estate
3,116

 
48

 
—

 
25,136

 
28,300

 
1,252,484

 
1,280,784

Loans to individuals
2,639

 
1,026

 
1,177

 
188

 
5,030

 
595,550

 
600,580

Total
$
11,627

 
$
2,136

 
$
2,648

 
$
59,286

 
$
75,697

 
$
4,154,055

 
$
4,229,752

 
 
December 31, 2012
 
30 - 59
days
past due
 
60 - 89
days
past
due
 
90 days
and
greater
and still
accruing
 
Nonaccrual
 
Total past
due and
nonaccrual
 
Current
 
Total
 
(dollars in thousands)
Commercial, financial, agricultural and other
$
991

 
$
620

 
$
288

 
$
29,258

 
$
31,157

 
$
988,665

 
$
1,019,822

Real estate construction
2

 
19

 
15

 
9,778

 
9,814

 
77,624

 
87,438

Residential real estate
6,597

 
2,357

 
730

 
9,283

 
18,967

 
1,222,598

 
1,241,565

Commercial real estate
3,339

 
1,389

 
195

 
46,023

 
50,946

 
1,222,715

 
1,273,661

Loans to individuals
3,140

 
934

 
1,219

 
176

 
5,469

 
576,749

 
582,218

Total
$
14,069

 
$
5,319

 
$
2,447

 
$
94,518

 
$
116,353

 
$
4,088,351

 
$
4,204,704
Recorded Investment and Unpaid Principal Balance for Impaired Loans with Associated Allowance
The following tables include the recorded investment and unpaid principal balance for impaired loans with the associated allowance amount, if applicable, as of June 30, 2013 and December 31, 2012. Also presented are the average recorded investment in impaired loans and the related amount of interest recognized while the loan was considered impaired. Average balances are calculated using month-end balances of the loans for the period reported and are included in the table below based on its period end allowance position.
 
 
June 30, 2013
 
December 31, 2012
 
Recorded
investment
 
Unpaid
principal
balance
 
Related
allowance
 
Recorded
investment
 
Unpaid
principal
balance
 
Related
allowance
 
(dollars in thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
$
15,069

 
$
16,119

 


 
$
8,080

 
$
8,983

 


Real estate construction
2,474

 
6,014

 


 
8,491

 
35,555

 


Residential real estate
9,017

 
9,640

 


 
7,928

 
8,401

 


Commercial real estate
24,190

 
30,962

 


 
33,259

 
35,401

 


Loans to individuals
257

 
268

 


 
256

 
256

 


Subtotal
51,007

 
63,003

 


 
58,014

 
88,596

 


With an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
10,707

 
11,383

 
6,627

 
26,532

 
27,412

 
10,331

Real estate construction
1,493

 
1,799

 
267

 
2,756

 
3,087

 
300

Residential real estate
4,139

 
4,148

 
1,943

 
2,695

 
2,696

 
780

Commercial real estate
5,751

 
6,052

 
818

 
17,558

 
17,896

 
6,367

Loans to individuals
—

 
—

 
—

 
—

 
—

 
—

Subtotal
22,090

 
23,382

 
9,655

 
49,541

 
51,091

 
17,778

Total
$
73,097

 
$
86,385

 
$
9,655

 
$
107,555

 
$
139,687

 
$
17,778

 
 
For the Six-Months Ended June 30
 
2013
 
2012
 
Average
recorded
investment
 
Interest
Income
Recognized
 
Average
recorded
investment
 
Interest
Income
Recognized
 
(dollars in thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
$
12,333

 
$
106

 
$
10,291

 
$
21

Real estate construction
6,900

 
—

 
7,268

 
—

Residential real estate
8,732

 
78

 
9,219

 
11

Commercial real estate
27,867

 
25

 
26,529

 
53

Loans to individuals
246

 
2

 
—

 
—

Subtotal
56,078

 
211

 
53,307

 
85

With an allowance recorded:
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
20,534

 
31

 
19,101

 
6

Real estate construction
2,017

 
26

 
6,865

 
—

Residential real estate
3,117

 
12

 
797

 
14

Commercial real estate
5,760

 
52

 
2,028

 
—

Loans to individuals
—

 
—

 
—

 
—

Subtotal
31,428

 
121

 
28,791

 
20

Total
$
87,506

 
$
332

 
$
82,098

 
$
105

 
 
 
 
 
 
 
 
 
For the Three-Months Ended June 30
 
2013
 
2012
 
Average
recorded
investment
 
Interest
Income
Recognized
 
Average
recorded
investment
 
Interest
Income
Recognized
 
(dollars in thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
$
12,853

 
$
55

 
$
7,735

 
$
3

Real estate construction
5,538

 
—

 
10,118

 
—

Residential real estate
9,003

 
41

 
15,082

 
6

Commercial real estate
20,865

 
13

 
25,696

 
19

Loans to individuals
246

 
1

 
—

 
—

Subtotal
48,505

 
110

 
58,631

 
28

With an allowance recorded:
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
18,486

 
12

 
17,441

 
3

Real estate construction
1,733

 
14

 
4,068

 
—

Residential real estate
3,680

 
8

 
644

 
7

Commercial real estate
5,708

 
28

 
1,253

 
—

Loans to individuals
—

 
—

 
—

 
—

Subtotal
29,607

 
62

 
23,406

 
10

Total
$
78,112

 
$
172

 
$
82,037

 
$
38
Troubled Debt Restructured Loans and Commitments
The following table provides detail as to the total troubled debt restructured loans and total commitments outstanding on troubled debt restructured loans:
 
June 30, 2013
 
December 31, 2012
 
(dollars in thousands)
Troubled debt restructured loans
 
 
 
Accrual status
$
13,811

 
$
13,037

Nonaccrual status
17,519

 
50,979

Total
$
31,330

 
$
64,016

Commitments
 
 
 
Letters of credit
$
—

 
$
1,574

Unused lines of credit
1,953

 
—

Total
$
1,953

 
$
1,574
Troubled Debt Restructurings is 90 days or more past due
The following tables provide detail, including specific reserve and reasons for modification, related to loans identified as troubled debt restructurings:
 
For the Six-Months Ended June 30, 2013
 
 
 
Type of Modification
 
 
 
 
 
 
 
Number
of
Contracts
 
Extend
Maturity
 
Modify
Rate
 
Modify
Payments
 
Total
Pre-Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
 
Specific
Reserve
 
(dollars in thousands)
Commercial, financial, agricultural and other
3

 
$
526

 
$
—

 
$
12

 
$
538

 
$
472

 
$
100

Residential real estate
22

 
280

 
326

 
1,284

 
1,890

 
1,801

 
562

Commercial real estate
1

 
—

 
244

 
—

 
244

 
237

 
—

Loans to individuals
6

 
—

 
34

 
6

 
40

 
29

 
—

Total
32

 
$
806

 
$
604

 
$
1,302

 
$
2,712

 
$
2,539

 
$
662

 
For the Six-Months Ended June 30, 2012
 
 
 
Type of Modification
 
 
 
 
 
 
 
Number
of
Contracts
 
Extend
Maturity
 
Modify
Rate
 
Modify
Payments
 
Total
Pre-Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
 
Specific
Reserve
 
(dollars in thousands)
Commercial, financial, agricultural and other
4

 
$
447

 
$
18

 
$
6,029

 
$
6,494

 
$
6,494

 
$
2,760

Real estate construction
1

 
823

 
—

 
—

 
823

 
815

 
—

Residential real estate
3

 
—

 
97

 
83

 
180

 
133

 
—

Total
8

 
$
1,270

 
$
115

 
$
6,112

 
$
7,497

 
$
7,442

 
$
2,760
Troubled Debt Restructuring Identified During Period
The following table provides information related to restructured loans that were considered to default during the six-months ended June 30:
 
 
2013
 
2012
 
Number of
Contracts
 
Recorded
Investment
 
Number of
Contracts
 
Recorded
Investment
 
(dollars in thousands)
Residential real estate
1

 
$
9

 
—

 
$
—

Loans to individuals
3

 
9

 
—

 
—

Total
4

 
$
18

 
—

 
$
—
Allowance for Credit Losses
The following tables provide detail related to the allowance for credit losses:
 
For the Six-Months Ended June 30, 2013
 
Commercial,
financial,
agricultural
and other
 
Real estate
construction
 
Residential
real estate
 
Commercial
real estate
 
Loans to
individuals
 
Unallocated
 
Total
 
(dollars in thousands)
Allowance for credit losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning Balance
$
19,852

 
$
8,928

 
$
5,908

 
$
22,441

 
$
4,132

 
$
5,926

 
$
67,187

Charge-offs
(14,221
)
 
(755
)
 
(643
)
 
(9,238
)
 
(1,755
)
 
—

 
(26,612
)
Recoveries
264

 
59

 
812

 
108

 
337

 
—

 
1,580

Provision (credit)
10,680

 
14

 
362

 
2,817

 
1,428

 
(4
)
 
15,297

Ending Balance
$
16,575

 
$
8,246

 
$
6,439

 
$
16,128

 
$
4,142

 
$
5,922

 
$
57,452

Ending balance: individually evaluated for impaired
$
6,627

 
$
267

 
$
1,943

 
$
818

 
$
—

 
$
—

 
$
9,655

Ending balance: collectively evaluated for impaired
9,948

 
7,979

 
4,496

 
15,310

 
4,142

 
5,922

 
47,797

Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
1,012,315

 
66,243

 
1,269,830

 
1,280,784

 
600,580

 
 
 
4,229,752

Ending balance: individually evaluated for impaired
24,592

 
3,904

 
10,468

 
27,862

 
—

 
 
 
66,826

Ending balance: collectively evaluated for impaired
987,723

 
62,339

 
1,259,362

 
1,252,922

 
600,580

 
 
 
4,162,926

 
 
For the Six-Months Ended June 30, 2012
 
Commercial,
financial,
agricultural
and other
 
Real estate
construction
 
Residential
real estate
 
Commercial
real estate
 
Loans to
individuals
 
Unallocated
 
Total
 
(dollars in thousands)
Allowance for credit losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning Balance
$
18,200

 
$
6,756

 
$
8,237

 
$
18,961

 
$
4,244

 
$
4,836

 
$
61,234

Charge-offs
(3,668
)
 
(340
)
 
(2,454
)
 
(541
)
 
(1,738
)
 
—

 
(8,741
)
Recoveries
275

 
92

 
282

 
186

 
264

 
—

 
1,099

Provision (credit)
4,495

 
1,493

 
554

 
(968
)
 
1,439

 
1,071

 
8,084

Ending Balance
$
19,302

 
$
8,001

 
$
6,619

 
$
17,638

 
$
4,209

 
$
5,907

 
$
61,676

Ending balance: individually evaluated for impaired
$
8,046

 
$
2,747

 
$
431

 
$
510

 
$
—

 
$
—

 
$
11,734

Ending balance: collectively evaluated for impaired
11,256

 
5,254

 
6,188

 
17,128

 
4,209

 
5,907

 
49,942

Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
1,059,675

 
77,442

 
1,213,610

 
1,232,270

 
576,534

 
 
 
4,159,531

Ending balance: individually evaluated for impaired
31,271

 
14,915

 
2,911

 
31,493

 
—

 
 
 
80,590

Ending balance: collectively evaluated for impaired
1,028,404

 
62,527

 
1,210,699

 
1,200,777

 
576,534

 
 
 
4,078,941