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Loans and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2017
Loans and Leases Receivable Disclosure [Abstract]  
Outstanding Balances of Loan
The following table provides outstanding balances related to each of our loan types:
 
 
March 31, 2017
 
December 31, 2016
 
Originated
 
Acquired
 
Total
 
Originated
 
Acquired
 
Total
 
(dollars in thousands)
Commercial, financial, agricultural and other
$
1,140,702

 
$
7,758

 
$
1,148,460

 
$
1,131,148

 
$
8,399

 
$
1,139,547

Real estate construction
239,983

 
139

 
240,122

 
217,840

 
1,781

 
219,621

Residential real estate
1,157,236

 
60,162

 
1,217,398

 
1,165,851

 
63,341

 
1,229,192

Commercial real estate
1,736,363

 
24,738

 
1,761,101

 
1,717,043

 
25,167

 
1,742,210

Loans to individuals
538,991

 
1,889

 
540,880

 
546,589

 
2,188

 
548,777

Total loans
$
4,813,275

 
$
94,686

 
$
4,907,961

 
$
4,778,471

 
$
100,876

 
$
4,879,347
Credit Risk Profile by Creditworthiness
The following tables represent our credit risk profile by creditworthiness:
 
March 31, 2017
 
Commercial, financial, agricultural and other
 
Real estate construction
 
Residential real estate
 
Commercial real estate
 
Loans to individuals
 
Total
 
(dollars in thousands)
Originated loans
 
 
 
 
 
 
 
 
 
 
 
Pass
$
1,049,152

 
$
239,983

 
$
1,143,535

 
$
1,714,061

 
$
538,765

 
$
4,685,496

Non-Pass
 
 
 
 
 
 
 
 
 
 
 
OAEM
31,026

 
—

 
3,373

 
5,675

 
—

 
40,074

Substandard
53,104

 
—

 
10,328

 
16,627

 
226

 
80,285

Doubtful
7,420

 
—

 
—

 
—

 
—

 
7,420

Total Non-Pass
91,550

 
—

 
13,701

 
22,302

 
226

 
127,779

Total
$
1,140,702

 
$
239,983

 
$
1,157,236

 
$
1,736,363

 
$
538,991

 
$
4,813,275

 
 
 
 
 
 
 
 
 
 
 
 
Acquired loans
 
 
 
 
 
 
 
 
 
 
 
Pass
$
6,972

 
$
139

 
$
59,864

 
$
23,623

 
$
1,889

 
$
92,487

Non-Pass
 
 
 
 
 
 
 
 
 
 
 
OAEM
477

 
—

 
—

 
—

 
—

 
477

Substandard
309

 
—

 
298

 
1,115

 
—

 
1,722

Doubtful
—

 
—

 
—

 
—

 
—

 
—

Total Non-Pass
786

 
—

 
298

 
1,115

 
—

 
2,199

Total
$
7,758

 
$
139

 
$
60,162

 
$
24,738

 
$
1,889

 
$
94,686

 
 
December 31, 2016
 
Commercial, financial, agricultural and other
 
Real estate construction
 
Residential real estate
 
Commercial real estate
 
Loans to individuals
 
Total
 
(dollars in thousands)
Originated loans
 
 
 
 
 
 
 
 
 
 
 
Pass
$
1,038,844

 
$
217,565

 
$
1,152,511

 
$
1,691,220

 
$
546,316

 
$
4,646,456

Non-Pass
 
 
 
 
 
 
 
 
 
 
 
OAEM
27,387

 
275

 
5,923

 
7,596

 
—

 
41,181

Substandard
64,917

 
—

 
7,417

 
18,227

 
273

 
90,834

Doubtful
—

 
—

 
—

 
—

 
—

 
—

Total Non-Pass
92,304

 
275

 
13,340

 
25,823

 
273

 
132,015

Total
$
1,131,148

 
$
217,840

 
$
1,165,851

 
$
1,717,043

 
$
546,589

 
$
4,778,471

 
 
 
 
 
 
 
 
 
 
 
 
Acquired loans
 
 
 
 
 
 
 
 
 
 
 
Pass
$
7,591

 
$
1,781

 
$
62,919

 
$
24,043

 
$
2,185

 
$
98,519

Non-Pass
 
 
 
 
 
 
 
 
 
 
 
OAEM
486

 
—

 
—

 
—

 
—

 
486

Substandard
322

 
—

 
422

 
1,124

 
3

 
1,871

Doubtful
—

 
—

 
—

 
—

 
—

 
—

Total Non-Pass
808

 
—

 
422

 
1,124

 
3

 
2,357

Total
$
8,399

 
$
1,781

 
$
63,341

 
$
25,167

 
$
2,188

 
$
100,876
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 March 31, 2017 and December 31, 2016. 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.
 
 
March 31, 2017
 
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)
Originated loans
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
$
2,973

 
$
603

 
$
139

 
$
21,710

 
$
25,425

 
$
1,115,277

 
$
1,140,702

Real estate construction
—

 
—

 
—

 
—

 
—

 
239,983

 
239,983

Residential real estate
2,979

 
1,187

 
617

 
5,984

 
10,767

 
1,146,469

 
1,157,236

Commercial real estate
665

 
—

 
87

 
3,899

 
4,651

 
1,731,712

 
1,736,363

Loans to individuals
1,073

 
485

 
739

 
226

 
2,523

 
536,468

 
538,991

Total
$
7,690

 
$
2,275

 
$
1,582

 
$
31,819

 
$
43,366

 
$
4,769,909

 
$
4,813,275

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquired loans
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
$
—

 
$
—

 
$
477

 
$
—

 
$
477

 
$
7,281

 
$
7,758

Real estate construction
—

 
—

 
—

 
—

 
—

 
139

 
139

Residential real estate
73

 
103

 
51

 
298

 
525

 
59,637

 
60,162

Commercial real estate
—

 
—

 
—

 
162

 
162

 
24,576

 
24,738

Loans to individuals
6

 
2

 
1

 
—

 
9

 
1,880

 
1,889

Total
$
79

 
$
105

 
$
529

 
$
460

 
$
1,173

 
$
93,513

 
$
94,686

 
 
December 31, 2016
 
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)
Originated loans
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
$
2,380

 
$
171

 
$
75

 
$
17,928

 
$
20,554

 
$
1,110,594

 
$
1,131,148

Real estate construction
183

 
—

 
—

 
—

 
183

 
217,657

 
217,840

Residential real estate
4,133

 
1,089

 
995

 
5,792

 
12,009

 
1,153,842

 
1,165,851

Commercial real estate
265

 
327

 
57

 
3,443

 
4,092

 
1,712,951

 
1,717,043

Loans to individuals
1,640

 
776

 
970

 
273

 
3,659

 
542,930

 
546,589

Total
$
8,601

 
$
2,363

 
$
2,097

 
$
27,436

 
$
40,497

 
$
4,737,974

 
$
4,778,471

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquired loans
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
$
486

 
$
—

 
$
—

 
$
—

 
$
486

 
$
7,913

 
$
8,399

Real estate construction
—

 
—

 
—

 
—

 
—

 
1,781

 
1,781

Residential real estate
148

 
39

 
34

 
422

 
643

 
62,698

 
63,341

Commercial real estate
—

 
—

 
—

 
162

 
162

 
25,005

 
25,167

Loans to individuals
1

 
7

 
—

 
3

 
11

 
2,177

 
2,188

Total
$
635

 
$
46

 
$
34

 
$
587

 
$
1,302

 
$
99,574

 
$
100,876
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 March 31, 2017 and December 31, 2016. 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 their period-end allowance position.
 
March 31, 2017
 
December 31, 2016
 
Recorded
investment
 
Unpaid
principal
balance
 
Related
allowance
 
Recorded
investment
 
Unpaid
principal
balance
 
Related
allowance
 
(dollars in thousands)
Originated loans:
 
 
 
 
 
 
 
 
 
 
 
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
$
12,780

 
$
20,043

 


 
$
9,549

 
$
15,369

 


Real estate construction
—

 
—

 


 
—

 
—

 


Residential real estate
11,227

 
13,237

 


 
10,873

 
13,004

 


Commercial real estate
6,028

 
7,037

 


 
5,765

 
6,905

 


Loans to individuals
365

 
429

 


 
382

 
507

 


Subtotal
30,400

 
40,746

 


 
26,569

 
35,785

 


With an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
13,929

 
20,124

 
$
2,466

 
13,423

 
19,226

 
$
2,530

Real estate construction
—

 
—

 
—

 
—

 
—

 
—

Residential real estate
366

 
418

 
146

 
424

 
475

 
164

Commercial real estate
1,101

 
1,101

 
376

 
810

 
810

 
434

Loans to individuals
—

 
—

 
—

 
—

 
—

 
—

Subtotal
15,396

 
21,643

 
2,988

 
14,657

 
20,511

 
3,128

Total
$
45,796

 
$
62,389

 
$
2,988

 
$
41,226

 
$
56,296

 
$
3,128

 
 
March 31, 2017
 
December 31, 2016
 
Recorded
investment
 
Unpaid
principal
balance
 
Related
allowance
 
Recorded
investment
 
Unpaid
principal
balance
 
Related
allowance
 
(dollars in thousands)
Acquired loans
 
 
 
 
 
 
 
 
 
 
 
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
$
—

 
$
—

 
 
 
$
—

 
$
—

 
 
Real estate construction
—

 
—

 
 
 
—

 
—

 
 
Residential real estate
246

 
321

 
 
 
406

 
480

 
 
Commercial real estate
162

 
162

 
 
 
162

 
162

 
 
Loans to individuals
—

 
—

 
 
 
3

 
3

 
 
Subtotal
408

 
483

 
 
 
571

 
645

 
 
With an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
—

 
—

 
$
—

 
—

 
—

 
$
—

Real estate construction
—

 
—

 
—

 
—

 
—

 
—

Residential real estate
65

 
65

 
29

 
16

 
16

 
16

Commercial real estate
—

 
—

 
—

 
—

 
—

 
—

Loans to individuals
—

 
—

 
—

 
—

 
—

 
—

Subtotal
65

 
65

 
29

 
16

 
16

 
16

Total
$
473

 
$
548

 
$
29

 
$
587

 
$
661

 
$
16


 
For the Three Months Ended March 31,
 
2017
 
2016
 
Originated Loans
 
Acquired Loans
 
Originated Loans
 
Average
recorded
investment
 
Interest
income
recognized
 
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
$
12,034

 
$
38

 
$
—

 
$
—

 
$
17,298

 
$
152

Real estate construction
—

 
—

 
—

 
—

 
17

 
44

Residential real estate
11,422

 
74

 
241

 
—

 
10,724

 
47

Commercial real estate
5,949

 
54

 
162

 
—

 
7,658

 
38

Loans to individuals
338

 
2

 
—

 
—

 
480

 
1

Subtotal
29,743

 
168

 
403

 
—

 
36,177

 
282

With an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural and other
12,787

 
26

 
—

 
—

 
17,027

 
28

Real estate construction
—

 
—

 
—

 
—

 
—

 
—

Residential real estate
334

 
1

 
65

 
—

 
497

 
—

Commercial real estate
1,111

 
7

 
—

 
—

 
529

 
5

Loans to individuals
—

 
—

 
—

 
—

 
—

 
—

Subtotal
14,232

 
34

 
65

 
—

 
18,053

 
33

Total
$
43,975

 
$
202

 
$
468

 
$
—

 
$
54,230

 
$
315



 
 
 
 
 
 
 
 
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:
 
March 31, 2017
 
December 31, 2016
 
(dollars in thousands)
Troubled debt restructured loans
 
 
 
Accrual status
$
13,990

 
$
13,790

Nonaccrual status
10,482

 
11,569

Total
$
24,472

 
$
25,359

Commitments
 
 
 
Letters of credit
$
60

 
$
—

Unused lines of credit
160

 
358

Total
$
220

 
$
358

The following tables provide detail, including specific reserves and reasons for modification, related to loans identified as troubled debt restructurings:
 
For the Three Months Ended March 31, 2017
 
 
 
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

 
$
—

 
$
42

 
$
—

 
$
42

 
$
38

 
$
—

Residential real estate
7

 
129

 
101

 
306

 
536

 
504

 
—

Commercial real estate
2

 
179

 
—

 
16

 
195

 
193

 
—

Loans to individuals
3

 
—

 
14

 
30

 
44

 
43

 
—

Total
13

 
$
308

 
$
157

 
$
352

 
$
817

 
$
778

 
$
—


 
For the Three Months Ended March 31, 2016
 
 
 
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

 
$
—

 
$
3,769

 
$
—

 
$
3,769

 
$
3,749

 
$
—

Residential real estate
8

 
—

 
114

 
874

 
988

 
910

 
—

Commercial real estate
3

 
65

 
—

 
133

 
198

 
169

 
—

Loans to individuals
3

 
—

 
18

 
5

 
23

 
16

 
—

Total
16

 
$
65

 
$
3,901

 
$
1,012

 
$
4,978

 
$
4,844

 
$
—
Troubled Debt Restructuring Subsequent Default [Table Text Block]
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 be in default during the three months ended March 31:
 
2017
 
2016
 
Number of
Contracts
 
Recorded
Investment
 
Number of
Contracts
 
Recorded
Investment
 
(dollars in thousands)
Residential real estate
—

 
$
—

 
2

 
$
70

Total
—

 
$
—

 
2

 
$
70





 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
Allowance for Credit Losses
he following tables provide detail related to the allowance for credit losses:
 
For the Three Months Ended March 31, 2017
 
Commercial,
financial,
agricultural
and other
 
Real estate
construction
 
Residential
real estate
 
Commercial
real estate
 
Loans to
individuals
 
Total
 
(dollars in thousands)
Allowance for credit losses:
 
 
 
 
 
 
 
 
 
 
 
Originated loans:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
35,974

 
$
577

 
$
2,492

 
$
6,619

 
$
4,504

 
$
50,166

Charge-offs
(3,825
)
 
—

 
(465
)
 
(31
)
 
(1,198
)
 
(5,519
)
Recoveries
368

 
54

 
122

 
117

 
128

 
789

Provision (credit)
2,184

 
(17
)
 
265

 
(123
)
 
900

 
3,209

Ending balance
34,701

 
614

 
2,414

 
6,582

 
4,334

 
48,645

Acquired loans:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
—

 
—

 
19

 
—

 
—

 
19

Charge-offs
—

 
—

 
(8
)
 
—

 
(7
)
 
(15
)
Recoveries
—

—

—

 
6

 
—

 
1

 
7

Provision (credit)
—

 
—

 
14

 
—

 
6

 
20

Ending balance
—

 
—

 
31

 
—

 
—

 
31

Total ending balance
$
34,701

 
$
614

 
$
2,445

 
$
6,582

 
$
4,334

 
$
48,676

Ending balance: individually evaluated for impairment
$
2,466

 
$
—

 
$
175

 
$
376

 
$
—

 
$
3,017

Ending balance: collectively evaluated for impairment
32,235

 
614

 
2,270

 
6,206

 
4,334

 
45,659

Loans:
 
 
 
 
 
 
 
 
 
 
 
Ending balance
1,148,460

 
240,122

 
1,217,398

 
1,761,101

 
540,880

 
4,907,961

Ending balance: individually evaluated for impairment
26,260

 
—

 
6,287

 
5,819

 
—

 
38,366

Ending balance: collectively evaluated for impairment
1,122,200

 
240,122

 
1,211,111

 
1,755,282

 
540,880

 
4,869,595



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
For the Three Months Ended March 31, 2016
 
Commercial,
financial,
agricultural
and other
 
Real estate
construction
 
Residential
real estate
 
Commercial
real estate
 
Loans to
individuals
 
Total
 
(dollars in thousands)
Allowance for credit losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
31,035

 
$
887

 
$
2,606

 
$
11,924

 
$
4,360

 
$
50,812

Charge-offs
(1,392
)
 
—

 
(382
)
 
(265
)
 
(1,469
)
 
(3,508
)
Recoveries
134

 
223

 
118

 
756

 
161

 
1,392

Provision (credit)
11,944

 
(209
)
 
286

 
(6,932
)
 
1,437

 
6,526

Ending balance
$
41,721

 
$
901

 
$
2,628

 
$
5,483

 
$
4,489

 
$
55,222

Ending balance: individually evaluated for impairment
$
12,900

 
$
—

 
$
75

 
$
420

 
$
—

 
$
13,395

Ending balance: collectively evaluated for impairment
28,821

 
901

 
2,553

 
5,063

 
4,489

 
41,827

Loans:
 
 
 
 
 
 
 
 
 
 
 
Ending balance
1,190,384

 
256,856

 
1,212,962

 
1,552,904

 
585,649

 
4,798,755

Ending balance: individually evaluated for impairment
42,016

 
—

 
6,246

 
5,934

 
—

 
54,196

Ending balance: collectively evaluated for impairment
1,148,368

 
256,856

 
1,206,716

 
1,546,970

 
585,649

 
4,744,559