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Loans and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 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:
 
 
September 30, 2013
 
December 31, 2012
 
(dollars in thousands)
Commercial, financial, agricultural and other
$
1,008,316

 
$
1,019,822

Real estate construction
74,025

 
87,438

Residential real estate
1,280,990

 
1,241,565

Commercial real estate
1,272,366

 
1,273,661

Loans to individuals
604,307

 
582,218

Total loans and leases net of unearned income
$
4,240,004

 
$
4,204,704
Credit Risk Profile by Creditworthiness
The following tables represent our credit risk profile by creditworthiness:
 
September 30, 2013
 
Commercial, financial, agricultural and other
 
Real estate construction
 
Residential real estate
 
Commercial real estate
 
Loans to individuals
 
Total
 
(dollars in thousands)
Pass
$
940,572

 
$
60,322

 
$
1,263,936

 
$
1,190,752

 
$
603,829

 
$
4,059,411

Non-Pass
 
 
 
 
 
 
 
 
 
 
 
OAEM
25,287

 
1,046

 
5,375

 
41,688

 
1

 
73,397

Substandard
42,457

 
12,657

 
11,679

 
39,926

 
477

 
107,196

Doubtful
—

 
—

 
—

 
—

 
—

 
—

Total Non-Pass
67,744

 
13,703

 
17,054

 
81,614

 
478

 
180,593

Total
$
1,008,316

 
$
74,025

 
$
1,280,990

 
$
1,272,366

 
$
604,307

 
$
4,240,004

 
 
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 September 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.
 
 
September 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
$
601

 
$
109

 
$
203

 
$
24,365

 
$
25,278

 
$
983,038

 
$
1,008,316

Real estate construction
12

 
—

 
—

 
2,850

 
2,862

 
71,163

 
74,025

Residential real estate
3,942

 
1,072

 
988

 
10,456

 
16,458

 
1,264,532

 
1,280,990

Commercial real estate
570

 
210

 
116

 
22,074

 
22,970

 
1,249,396

 
1,272,366

Loans to individuals
2,581

 
859

 
1,057

 
184

 
4,681

 
599,626

 
604,307

Total
$
7,706

 
$
2,250

 
$
2,364

 
$
59,929

 
$
72,249

 
$
4,167,755

 
$
4,240,004

 
 
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 September 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.
 
 
September 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
$
10,209

 
$
11,137

 


 
$
8,080

 
$
8,983

 


Real estate construction
2,251

 
5,795

 


 
8,491

 
35,555

 


Residential real estate
9,493

 
10,118

 


 
7,928

 
8,401

 


Commercial real estate
21,695

 
23,111

 


 
33,259

 
35,401

 


Loans to individuals
257

 
272

 


 
256

 
256

 


Subtotal
43,905

 
50,433

 


 
58,014

 
88,596

 


With an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
16,530

 
17,064

 
4,889

 
26,532

 
27,412

 
10,331

Real estate construction
1,866

 
2,181

 
165

 
2,756

 
3,087

 
300

Residential real estate
3,406

 
3,440

 
1,377

 
2,695

 
2,696

 
780

Commercial real estate
5,512

 
8,924

 
1,808

 
17,558

 
17,896

 
6,367

Loans to individuals
—

 
—

 
—

 
—

 
—

 
—

Subtotal
27,314

 
31,609

 
8,239

 
49,541

 
51,091

 
17,778

Total
$
71,219

 
$
82,042

 
$
8,239

 
$
107,555

 
$
139,687

 
$
17,778

 
 
For the Nine-Months Ended September 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
$
14,482

 
$
147

 
$
9,281

 
$
116

Real estate construction
5,390

 
—

 
6,641

 
—

Residential real estate
9,376

 
129

 
7,604

 
17

Commercial real estate
26,390

 
119

 
27,869

 
50

Loans to individuals
248

 
3

 
9

 
—

Subtotal
55,886

 
398

 
51,404

 
183

With an allowance recorded:
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
15,552

 
46

 
21,025

 
5

Real estate construction
1,848

 
35

 
7,381

 
—

Residential real estate
3,001

 
24

 
1,532

 
20

Commercial real estate
5,628

 
1

 
2,713

 
11

Loans to individuals
—

 
—

 
—

 
—

Subtotal
26,029

 
106

 
32,651

 
36

Total
$
81,915

 
$
504

 
$
84,055

 
$
219

 
 
 
 
 
 
 
 
 
For the Three-Months Ended September 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
$
14,000

 
$
41

 
$
6,664

 
$
94

Real estate construction
2,340

 
—

 
4,954

 
—

Residential real estate
9,977

 
52

 
4,374

 
6

Commercial real estate
23,428

 
42

 
29,878

 
14

Loans to individuals
251

 
1

 
28

 
—

Subtotal
49,996

 
136

 
45,898

 
114

With an allowance recorded:
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
10,370

 
16

 
25,469

 
2

Real estate construction
1,541

 
8

 
8,848

 
—

Residential real estate
3,349

 
10

 
2,130

 
6

Commercial real estate
5,371

 
1

 
4,754

 
11

Loans to individuals
—

 
—

 
—

 
—

Subtotal
20,631

 
35

 
41,201

 
19

Total
$
70,627

 
$
171

 
$
87,099

 
$
133
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:
 
September 30, 2013
 
December 31, 2012
 
(dollars in thousands)
Troubled debt restructured loans
 
 
 
Accrual status
$
11,290

 
$
13,037

Nonaccrual status
17,807

 
50,979

Total
$
29,097

 
$
64,016

Commitments
 
 
 
Letters of credit
$
—

 
$
1,574

Unused lines of credit
3,244

 
—

Total
$
3,244

 
$
1,574
Troubled Debt Restructurings is 90 days or more past due
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Three-Months Ended September 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
4

 
$
2,442

 
$
—

 
$
93

 
$
2,535

 
$
601

 
$
198

Residential real estate
10

 
67

 
24

 
269

 
360

 
361

 
—

Commercial real estate
5

 
758

 
—

 
1,551

 
2,309

 
2,252

 
1,062

Loans to individuals
6

 
10

 
36

 
21

 
67

 
58

 
—

Total
25

 
$
3,277

 
$
60

 
$
1,934

 
$
5,271

 
$
3,272

 
$
1,260

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Three-Months Ended September 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
6

 
$
1,153

 
$
169

 
$
1,509

 
$
2,831

 
$
3,004

 
$
746

Commercial real estate
1

 
—

 
516

 
—

 
516

 
529

 
98

Total
7

 
$
1,153

 
$
685

 
$
1,509

 
$
3,347

 
$
3,533

 
$
844

The following tables provide detail, including specific reserve and reasons for modification, related to loans identified as troubled debt restructurings:
 
For the Nine-Months Ended September 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
7

 
$
2,969

 
$
—

 
$
105

 
$
3,074

 
$
1,041

 
$
198

Residential real estate
32

 
347

 
350

 
1,552

 
2,249

 
1,924

 
274

Commercial real estate
6

 
758

 
244

 
1,551

 
2,553

 
2,484

 
1,062

Loans to individuals
12

 
9

 
70

 
28

 
107

 
83

 
—

Total
57

 
$
4,083

 
$
664

 
$
3,236

 
$
7,983

 
$
5,532

 
$
1,534

 
For the Nine-Months Ended September 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
10

 
$
1,599

 
$
187

 
$
7,538

 
$
9,324

 
$
8,885

 
$
3,140

Real estate construction
1

 
823

 
—

 
—

 
823

 
791

 
—

Residential real estate
3

 
—

 
97

 
83

 
180

 
131

 
—

Commercial real estate
1

 
—

 
516

 
—

 
516

 
529

 
98

Total
15

 
$
2,422

 
$
800

 
$
7,621

 
$
10,843

 
$
10,336

 
$
3,238
Troubled Debt Restructuring Identified During Period
The following table provides information related to restructured loans that were considered to default during the nine-months ended September 30:
 
 
2013
 
2012
 
Number of
Contracts
 
Recorded
Investment
 
Number of
Contracts
 
Recorded
Investment
 
(dollars in thousands)
Residential real estate
1

 
$
9

 
—

 
$
—

Loans to individuals
2

 
9

 
—

 
—

Total
3

 
$
18

 
—

 
$
—

 
The following table provides information related to restructured loans that were considered to default during the three-months ended September 30:

 
2013
 
2012
 
Number of
Contracts
 
Recorded
Investment
 
Number of
Contracts
 
Recorded
Investment
 
(dollars in thousands)
Residential real estate
1

 
$
9

 
—

 
$
—

Loans to individuals
1

 
5

 
—

 
—

Total
2

 
$
14

 
—

 
$
—
Allowance for Credit Losses
The following tables provide detail related to the allowance for credit losses:
 
For the Nine-Months Ended September 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
(17,302
)
 
(773
)
 
(1,400
)
 
(10,051
)
 
(2,669
)
 
—

 
(32,195
)
Recoveries
345

 
140

 
883

 
121

 
465

 
—

 
1,954

Provision (credit)
12,038

 
(1,865
)
 
446

 
4,318

 
2,266

 
808

 
18,011

Ending Balance
$
14,933

 
$
6,430

 
$
5,837

 
$
16,829

 
$
4,194

 
$
6,734

 
$
54,957

Ending balance: individually evaluated for impairment
$
4,889

 
$
165

 
$
1,377

 
$
1,808

 
$
—

 
$
—

 
$
8,239

Ending balance: collectively evaluated for impairment
10,044

 
6,265

 
4,460

 
15,021

 
4,194

 
6,734

 
46,718

Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
1,008,316

 
74,025

 
1,280,990

 
1,272,366

 
604,307

 
 
 
4,240,004

Ending balance: individually evaluated for impairment
25,620

 
4,028

 
9,794

 
25,197

 
—

 
 
 
64,639

Ending balance: collectively evaluated for impairment
982,696

 
69,997

 
1,271,196

 
1,247,169

 
604,307

 
 
 
4,175,365

 
 
For the Nine-Months Ended September 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
(4,939
)
 
(2,356
)
 
(2,984
)
 
(638
)
 
(2,494
)
 
—

 
(13,411
)
Recoveries
349

 
121

 
331

 
256

 
396

 
—

 
1,453

Provision (credit)
4,470

 
4,341

 
1,120

 
1,855

 
2,074

 
978

 
14,838

Ending Balance
$
18,080

 
$
8,862

 
$
6,704

 
$
20,434

 
$
4,220

 
$
5,814

 
$
64,114

Ending balance: individually evaluated for impairment
$
7,306

 
$
973

 
$
719

 
$
3,916

 
$
—

 
$
—

 
$
12,914

Ending balance: collectively evaluated for impairment
10,774

 
7,889

 
5,985

 
16,518

 
4,220

 
5,814

 
51,200

Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
1,087,019

 
95,425

 
1,228,328

 
1,217,249

 
586,278

 
 
 
4,214,299

Ending balance: individually evaluated for impairment
32,833

 
11,427

 
7,224

 
37,369

 
—

 
 
 
88,853

Ending balance: collectively evaluated for impairment
1,054,186

 
83,998

 
1,221,104

 
1,179,880

 
586,278

 
 
 
4,125,446

 
For the Three-Months Ended September 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
$
16,575

 
$
8,246

 
$
6,439

 
$
16,128

 
$
4,142

 
$
5,922

 
$
57,452

Charge-offs
(3,081
)
 
(18
)
 
(757
)
 
(813
)
 
(914
)
 
—

 
(5,583
)
Recoveries
81

 
81

 
71

 
13

 
128

 
—

 
374

Provision (credit)
1,358

 
(1,879
)
 
84

 
1,501

 
838

 
812

 
2,714

Ending Balance
$
14,933

 
$
6,430

 
$
5,837

 
$
16,829

 
$
4,194

 
$
6,734

 
$
54,957

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Three-Months Ended September 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
$
19,302

 
$
8,001

 
$
6,619

 
$
17,638

 
$
4,209

 
$
5,907

 
$
61,676

Charge-offs
(1,271
)
 
(2,016
)
 
(530
)
 
(97
)
 
(756
)
 
—

 
(4,670
)
Recoveries
74

 
29

 
49

 
70

 
132

 
—

 
354

Provision (credit)
(25
)
 
2,848

 
566

 
2,823

 
635

 
(93
)
 
6,754

Ending Balance
$
18,080

 
$
8,862

 
$
6,704

 
$
20,434

 
$
4,220

 
$
5,814

 
$
64,114