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Loans and Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2014
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, 2014
 
December 31, 2013
 
(dollars in thousands)
Commercial, financial, agricultural and other
$
1,062,001

 
$
1,021,056

Real estate construction
100,709

 
93,289

Residential real estate
1,238,791

 
1,262,718

Commercial real estate
1,306,752

 
1,296,472

Loans to individuals
625,961

 
610,298

Total loans and leases net of unearned income
$
4,334,214

 
$
4,283,833
Credit Risk Profile by Creditworthiness
The following tables represent our credit risk profile by creditworthiness:
 
June 30, 2014
 
Commercial, financial, agricultural and other
 
Real estate construction
 
Residential real estate
 
Commercial real estate
 
Loans to individuals
 
Total
 
(dollars in thousands)
Pass
$
976,591

 
$
91,732

 
$
1,225,291

 
$
1,257,512

 
$
625,718

 
$
4,176,844

Non-Pass
 
 
 
 
 
 
 
 
 
 
 
OAEM
46,934

 
8,310

 
3,160

 
28,800

 
—

 
87,204

Substandard
34,198

 
667

 
10,340

 
20,440

 
243

 
65,888

Doubtful
4,278

 
—

 
—

 
—

 
—

 
4,278

Total Non-Pass
85,410

 
8,977

 
13,500

 
49,240

 
243

 
157,370

Total
$
1,062,001

 
$
100,709

 
$
1,238,791

 
$
1,306,752

 
$
625,961

 
$
4,334,214

 
 
December 31, 2013
 
Commercial, financial, agricultural and other
 
Real estate construction
 
Residential real estate
 
Commercial real estate
 
Loans to individuals
 
Total
 
(dollars in thousands)
Pass
$
943,107

 
$
79,679

 
$
1,245,422

 
$
1,243,170

 
$
610,094

 
$
4,121,472

Non-Pass
 
 
 
 
 
 
 
 
 
 
 
OAEM
35,429

 
9,710

 
5,161

 
28,823

 
1

 
79,124

Substandard
42,520

 
3,900

 
12,135

 
24,479

 
203

 
83,237

Doubtful
—

 
—

 
—

 
—

 
—

 
—

Total Non-Pass
77,949

 
13,610

 
17,296

 
53,302

 
204

 
162,361

Total
$
1,021,056

 
$
93,289

 
$
1,262,718

 
$
1,296,472

 
$
610,298

 
$
4,283,833
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, 2014 and December 31, 2013. 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, 2014
 
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
$
687

 
$
173

 
$
230

 
$
19,678

 
$
20,768

 
$
1,041,233

 
$
1,062,001

Real estate construction
—

 
—

 
—

 
303

 
303

 
100,406

 
100,709

Residential real estate
4,649

 
1,222

 
891

 
8,734

 
15,496

 
1,223,295

 
1,238,791

Commercial real estate
956

 
4,163

 
—

 
6,764

 
11,883

 
1,294,869

 
1,306,752

Loans to individuals
2,553

 
1,096

 
1,289

 
242

 
5,180

 
620,781

 
625,961

Total
$
8,845

 
$
6,654

 
$
2,410

 
$
35,721

 
$
53,630

 
$
4,280,584

 
$
4,334,214

 
 
December 31, 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
$
594

 
$
319

 
$
185

 
$
23,631

 
$
24,729

 
$
996,327

 
$
1,021,056

Real estate construction
—

 
—

 
—

 
2,567

 
2,567

 
90,722

 
93,289

Residential real estate
4,002

 
524

 
1,041

 
10,520

 
16,087

 
1,246,631

 
1,262,718

Commercial real estate
1,199

 
23

 
13

 
8,966

 
10,201

 
1,286,271

 
1,296,472

Loans to individuals
2,895

 
990

 
1,266

 
204

 
5,355

 
604,943

 
610,298

Total
$
8,690

 
$
1,856

 
$
2,505

 
$
45,888

 
$
58,939

 
$
4,224,894

 
$
4,283,833
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, 2014 and December 31, 2013. 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, 2014
 
December 31, 2013
 
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
$
7,422

 
$
8,585

 


 
$
6,752

 
$
7,649

 


Real estate construction
586

 
1,154

 


 
3,486

 
6,664

 


Residential real estate
9,102

 
10,183

 


 
9,333

 
9,952

 


Commercial real estate
7,366

 
8,379

 


 
13,606

 
14,719

 


Loans to individuals
341

 
373

 


 
289

 
307

 


Subtotal
24,817

 
28,674

 


 
33,466

 
39,291

 


With an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
17,994

 
18,422

 
4,995

 
21,482

 
22,082

 
7,364

Real estate construction
—

 
—

 
—

 
414

 
737

 
94

Residential real estate
1,940

 
2,085

 
546

 
3,533

 
3,585

 
1,282

Commercial real estate
1,536

 
1,673

 
531

 
488

 
612

 
84

Loans to individuals
—

 
—

 
—

 
—

 
—

 
—

Subtotal
21,470

 
22,180

 
6,072

 
25,917

 
27,016

 
8,824

Total
$
46,287

 
$
50,854

 
$
6,072

 
$
59,383

 
$
66,307

 
$
8,824

 
 
For the Six Months Ended June 30,
 
2014
 
2013
 
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
$
13,841

 
$
32

 
$
12,333

 
$
106

Real estate construction
2,112

 
18

 
6,900

 
—

Residential real estate
10,602

 
124

 
8,732

 
78

Commercial real estate
8,494

 
55

 
27,867

 
25

Loans to individuals
290

 
2

 
246

 
2

Subtotal
35,339

 
231

 
56,078

 
211

With an allowance recorded:
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
14,333

 
76

 
20,534

 
31

Real estate construction
—

 
—

 
2,017

 
26

Residential real estate
1,738

 
15

 
3,117

 
12

Commercial real estate
670

 
2

 
5,760

 
52

Loans to individuals
—

 
—

 
—

 
—

Subtotal
16,741

 
93

 
31,428

 
121

Total
$
52,080

 
$
324

 
$
87,506

 
$
332

 
For the Three Months Ended June 30,
 
2014
 
2013
 
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
$
12,658

 
$
14

 
$
12,853

 
$
55

Real estate construction
1,148

 
6

 
5,538

 
—

Residential real estate
9,858

 
75

 
9,003

 
41

Commercial real estate
7,388

 
22

 
20,865

 
13

Loans to individuals
310

 
1

 
246

 
1

Subtotal
31,362

 
118

 
48,505

 
110

With an allowance recorded:
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
15,086

 
32

 
18,486

 
12

Real estate construction
—

 
—

 
1,733

 
14

Residential real estate
1,836

 
7

 
3,680

 
8

Commercial real estate
1,136

 
1

 
5,708

 
28

Loans to individuals
—

 
—

 
—

 
—

Subtotal
18,058

 
40

 
29,607

 
62

Total
$
49,420

 
$
158

 
$
78,112

 
$
172
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, 2014
 
December 31, 2013
 
(dollars in thousands)
Troubled debt restructured loans
 
 
 
Accrual status
$
10,566

 
$
13,495

Nonaccrual status
6,793

 
16,980

Total
$
17,359

 
$
30,475

Commitments
 
 
 
Letters of credit
$
—

 
$
—

Unused lines of credit
2,482

 
452

Total
$
2,482

 
$
452
Troubled Debt Restructurings is 90 days or more past due
 
For the Three Months Ended June 30, 2014
 
 
 
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
1

 
$
1,420

 
$
—

 
$
—

 
$
1,420

 
$
1,433

 
$
—

Residential real estate
8

 
—

 
120

 
126

 
246

 
243

 
2

Loans to individuals
4

 
—

 
42

 
7

 
49

 
42

 
—

Total
13

 
$
1,420

 
$
162

 
$
133

 
$
1,715

 
$
1,718

 
$
2

 
For the Three 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
1

 
$
100

 
$
—

 
$
—

 
$
100

 
$
100

 
$
100

Residential real estate
13

 
273

 
113

 
769

 
1,155

 
1,132

 
562

Loans to individuals
2

 
—

 
10

 
3

 
13

 
9

 
—

Total
16

 
$
373

 
$
123

 
$
772

 
$
1,268

 
$
1,241

 
$
662

The following tables provide detail, including specific reserves and reasons for modification, related to loans identified as troubled debt restructurings:
 
For the Six Months Ended June 30, 2014
 
 
 
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
2

 
$
1,480

 
$
—

 
$
—

 
$
1,480

 
$
1,463

 
$
20

Residential real estate
21

 
—

 
291

 
644

 
935

 
895

 
48

Commercial real estate
1

 
—

 
—

 
12

 
12

 
7

 
—

Loans to individuals
10

 
—

 
73

 
27

 
100

 
85

 
—

Total
34

 
$
1,480

 
$
364

 
$
683

 
$
2,527

 
$
2,450

 
$
68


 
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
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: 
 
2014
 
2013
 
Number of
Contracts
 
Recorded
Investment
 
Number of
Contracts
 
Recorded
Investment
 
(dollars in thousands)
Residential real estate
2

 
$
51

 
1

 
$
9

Loans to individuals
—

 
—

 
3

 
9

Total
2

 
$
51

 
4

 
$
18

 
A troubled debt restructuring is considered to be in default when a restructured loan is 90 days or more past due. The following table provides information related to restructured loans that were considered to default during the three months ended June 30: 

 
2014
 
2013
 
Number of
Contracts
 
Recorded
Investment
 
Number of
Contracts
 
Recorded
Investment
 
(dollars in thousands)
Residential real estate
1

 
$
6

 
—

 
$
—

Loans to individuals
—

 
—

 
2

 
5

Total
1

 
$
6

 
2

 
$
5
Allowance for Credit Losses
The following tables provide detail related to the allowance for credit losses:
 
For the Six Months Ended June 30, 2014
 
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
$
22,663

 
$
6,600

 
$
7,727

 
$
11,778

 
$
5,457

 
$
—

 
$
54,225

Charge-offs
(7,859
)
 
(296
)
 
(1,735
)
 
(297
)
 
(1,562
)
 
—

 
(11,749
)
Recoveries
421

 
337

 
323

 
255

 
365

 
—

 
1,701

Provision (credit)
6,731

 
(742
)
 
(190
)
 
(75
)
 
824

 
—

 
6,548

Ending Balance
$
21,956

 
$
5,899

 
$
6,125

 
$
11,661

 
$
5,084

 
$
—

 
$
50,725

Ending balance: individually evaluated for impairment
$
4,995

 
$
—

 
$
546

 
$
531

 
$
—

 
$
—

 
$
6,072

Ending balance: collectively evaluated for impairment
16,961

 
5,899

 
5,579

 
11,130

 
5,084

 
—

 
44,653

Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance
1,062,001

 
100,709

 
1,238,791

 
1,306,752

 
625,961

 
 
 
4,334,214

Ending balance: individually evaluated for impairment
24,573

 
486

 
7,624

 
6,965

 
—

 
 
 
39,648

Ending balance: collectively evaluated for impairment
1,037,428

 
100,223

 
1,231,167

 
1,299,787

 
625,961

 
 
 
4,294,566

 
 
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 impairment
$
6,627

 
$
267

 
$
1,943

 
$
818

 
$
—

 
$
—

 
$
9,655

Ending balance: collectively evaluated for impairment
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 impairment
24,592

 
3,904

 
10,468

 
27,862

 
—

 
 
 
66,826

Ending balance: collectively evaluated for impairment
987,723

 
62,339

 
1,259,362

 
1,252,922

 
600,580

 
 
 
4,162,926

 
For the Three Months Ended June 30, 2014
 
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
$
26,125

 
$
6,214

 
$
6,026

 
$
11,119

 
$
5,022

 
$
—

 
$
54,506

Charge-offs
(6,258
)
 
(296
)
 
(640
)
 
(157
)
 
(752
)
 
—

 
(8,103
)
Recoveries
336

 
168

 
79

 
235

 
187

 
—

 
1,005

Provision (credit)
1,753

 
(187
)
 
660

 
464

 
627

 
—

 
3,317

Ending Balance
$
21,956

 
$
5,899

 
$
6,125

 
$
11,661

 
$
5,084

 
$
—

 
$
50,725

 
For the Three 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
$
20,275

 
$
7,733

 
$
5,749

 
$
18,470

 
$
4,139

 
$
5,896

 
$
62,262

Charge-offs
(13,683
)
 
(671
)
 
(321
)
 
(694
)
 
(767
)
 
—

 
(16,136
)
Recoveries
136

 
47

 
89

 
11

 
243

 
—

 
526

Provision (credit)
9,847

 
1,137

 
922

 
(1,659
)
 
527

 
26

 
10,800

Ending Balance
$
16,575

 
$
8,246

 
$
6,439

 
$
16,128

 
$
4,142

 
$
5,922

 
$
57,452