Loans and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2014

Loans and Leases Receivable Disclosure [Abstract]

The following table provides outstanding balances related to each of our loan types:



	September 30, 2014		December 31, 2013
	(dollars in thousands)
Commercial, financial, agricultural and other	$	1,071,531	$	1,021,056
Real estate construction	115,788		93,289
Residential real estate	1,234,842		1,262,718
Commercial real estate	1,345,302		1,296,472
Loans to individuals	644,018		610,298
Total loans and leases net of unearned income	$	4,411,481	$	4,283,833

Credit Risk Profile by Creditworthiness

The following tables represent our credit risk profile by creditworthiness:



	September 30, 2014
	Commercial, financial, agricultural and other		Real estate construction		Residential real estate		Commercial real estate		Loans to individuals		Total
	(dollars in thousands)
Pass	$	996,609	$	106,989	$	1,223,231	$	1,301,447	$	643,756	$	4,272,032
Non-Pass
OAEM	40,620		8,222		1,874		25,009		—		75,725
Substandard	30,382		577		9,737		18,846		262		59,804
Doubtful	3,920		—		—		—		—		3,920
Total Non-Pass	74,922		8,799		11,611		43,855		262		139,449
Total	$	1,071,531	$	115,788	$	1,234,842	$	1,345,302	$	644,018	$	4,411,481



	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 September 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.



	September 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	$	467	$	165	$	267	$	18,847	$	19,746	$	1,051,785	$	1,071,531
Real estate construction	—		—		—		291		291		115,497		115,788
Residential real estate	6,371		1,636		778		8,286		17,071		1,217,771		1,234,842
Commercial real estate	2,162		75		—		6,408		8,645		1,336,657		1,345,302
Loans to individuals	3,797		1,105		1,329		261		6,492		637,526		644,018
Total	$	12,797	$	2,981	$	2,374	$	34,093	$	52,245	$	4,359,236	$	4,411,481



	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 September 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.



	September 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	$	10,833	$	12,207			$	6,752	$	7,649
Real estate construction	291		867				3,486		6,664
Residential real estate	10,093		11,171				9,333		9,952
Commercial real estate	8,358		9,887				13,606		14,719
Loans to individuals	348		456				289		307
Subtotal	29,923		34,588				33,466		39,291
With an allowance recorded:
Commercial, financial, agricultural and other	13,802		14,192		4,271		21,482		22,082		7,364
Real estate construction	—		—		—		414		737		94
Residential real estate	1,445		1,579		332		3,533		3,585		1,282
Commercial real estate	87		88		29		488		612		84
Loans to individuals	—		—		—		—		—		—
Subtotal	15,334		15,859		4,632		25,917		27,016		8,824
Total	$	45,257	$	50,447	$	4,632	$	59,383	$	66,307	$	8,824



	For the Nine Months Ended September 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	$	15,209	$	77	$	14,482	$	147
Real estate construction	1,506		19		5,390		—
Residential real estate	11,047		167		9,376		129
Commercial real estate	9,007		78		26,390		119
Loans to individuals	309		3		248		3
Subtotal	37,078		344		55,886		398
With an allowance recorded:
Commercial, financial, agricultural and other	11,944		125		15,552		46
Real estate construction	—		—		1,848		35
Residential real estate	1,178		12		3,001		24
Commercial real estate	90		3		5,628		1
Loans to individuals	—		—		—		—
Subtotal	13,212		140		26,029		106
Total	$	50,290	$	484	$	81,915	$	504



	For the Three Months Ended September 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	$	10,973	$	39	$	14,000	$	41
Real estate construction	295		1		2,340		—
Residential real estate	10,590		38		9,977		52
Commercial real estate	8,873		24		23,428		42
Loans to individuals	346		1		251		1
Subtotal	31,077		103		49,996		136
With an allowance recorded:
Commercial, financial, agricultural and other	14,140		48		10,370		16
Real estate construction	—		—		1,541		8
Residential real estate	1,406		3		3,349		10
Commercial real estate	88		2		5,371		1
Loans to individuals	—		—		—		—
Subtotal	15,634		53		20,631		35
Total	$	46,711	$	156	$	70,627	$	171

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, 2014		December 31, 2013
	(dollars in thousands)
Troubled debt restructured loans
Accrual status	$	11,164	$	13,495
Nonaccrual status	6,783		16,980
Total	$	17,947	$	30,475
Commitments
Letters of credit	$	—	$	—
Unused lines of credit	974		452
Total	$	974	$	452

Troubled Debt Restructurings is 90 days or more past due

The following tables provide detail, including specific reserves and reasons for modification, related to loans identified as troubled debt restructurings:



	For the Nine Months Ended September 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	$	1,505	$	—	$	—	$	1,505	$	1,648	$	27
Residential real estate	44	—		468		1,767		2,235		2,091		22
Commercial real estate	1	—		—		8		8		6		—
Loans to individuals	13	—		81		42		123		101		—
Total	60	$	1,505	$	549	$	1,817	$	3,871	$	3,846	$	49



	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 Three Months Ended September 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)
Residential real estate	24	$	—	$	164	$	1,116	$	1,280	$	1,233	$	2
Loans to individuals	3	—		8		15		23		20		—
Total	27	$	—	$	172	$	1,131	$	1,303	$	1,253	$	2



	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

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:



	2014			2013
	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
	(dollars in thousands)
Residential real estate	3	$	18	1	$	9
Loans to individuals	—	—		2	9
Total	3	$	18	3	$	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 September 30:



	2014			2013
	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
	(dollars in thousands)
Residential real estate	1	$	5	1	$	9
Loans to individuals	—	—		1	5
Total	1	$	5	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, 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	(8,357		)	(296		)	(2,286		)	(1,109		)	(2,581		)	—		(14,629		)
Recoveries	625			469			420			432			621			—		2,567
Provision (credit)	4,773			1,331			(407		)	1,453			1,471			—		8,621
Ending Balance	$	19,704		$	8,104		$	5,454		$	12,554		$	4,968		$	—	$	50,784
Ending balance: individually evaluated for impairment	$	4,271		$	—		$	332		$	29		$	—		$	—	$	4,632
Ending balance: collectively evaluated for impairment	15,433			8,104			5,122			12,525			4,968			—		46,152
Loans:
Ending balance	1,071,531			115,788			1,234,842			1,345,302			644,018					4,411,481
Ending balance: individually evaluated for impairment	23,773			199			6,854			6,890			—					37,716
Ending balance: collectively evaluated for impairment	1,047,758			115,589			1,227,988			1,338,412			644,018					4,373,765



	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 Three Months Ended September 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	$	21,956		$	5,899	$	6,125		$	11,661		$	5,084		$	—	$	50,725
Charge-offs	(498		)	—		(551		)	(812		)	(1,019		)	—		(2,880		)
Recoveries	204			132		97			177			256			—		866
Provision (credit)	(1,958		)	2,073		(217		)	1,528			647			—		2,073
Ending Balance	$	19,704		$	8,104	$	5,454		$	12,554		$	4,968		$	—	$	50,784



	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