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Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2020

Loans and Leases Receivable Disclosure [Abstract]

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


	March 31, 2020										December 31, 2019
	Originated		Acquired		Total		Originated		Acquired		Total
	(dollars in thousands)
Commercial, financial, agricultural and other	$	1,242,909	$	29,331	$	1,272,240	$	1,212,026	$	29,827	$	1,241,853
Real estate construction	408,234		5,224		413,458		442,777		6,262		449,039
Residential real estate	1,439,306		251,834		1,691,140		1,415,808		265,554		1,681,362
Commercial real estate	2,041,339		148,759		2,190,098		1,958,346		159,173		2,117,519
Loans to individuals	734,608		12,400		747,008		685,416		13,959		699,375
Total loans	$	5,866,396	$	447,548	$	6,313,944	$	5,714,373	$	474,775	$	6,189,148

Credit Risk Profile by Creditworthiness

The following tables represent our credit risk profile by creditworthiness:


	March 31, 2020
	Commercial, financial, agricultural and other		Real estate construction		Residential real estate		Commercial real estate		Loans to individuals		Total
	(dollars in thousands)
Originated loans
Pass	$	1,183,879	$	408,210	$	1,431,760	$	2,001,296	$	734,333	$	5,759,478
Non-Pass
OAEM	21,674		24		466		3,847		7		26,018
Substandard	37,356		—		7,080		36,196		268		80,900
Doubtful	—		—		—		—		—		—
Total Non-Pass	59,030		24		7,546		40,043		275		106,918
Total	$	1,242,909	$	408,234	$	1,439,306	$	2,041,339	$	734,608	$	5,866,396

Acquired loans
Pass	$	27,330	$	4,679	$	249,022	$	143,512	$	12,388	$	436,931
Non-Pass
OAEM	211		545		528		—		—		1,284
Substandard	1,790		—		2,284		5,247		12		9,333
Doubtful	—		—		—		—		—		—
Total Non-Pass	2,001		545		2,812		5,247		12		10,617
Total	$	29,331	$	5,224	$	251,834	$	148,759	$	12,400	$	447,548


	December 31, 2019
	Commercial, financial, agricultural and other		Real estate construction		Residential real estate		Commercial real estate		Loans to individuals		Total
	(dollars in thousands)
Originated loans
Pass	$	1,171,363	$	442,751	$	1,406,845	$	1,918,690	$	685,108	$	5,624,757
Non-Pass
OAEM	29,359		26		475		13,533		—		43,393
Substandard	11,304		—		8,488		26,123		308		46,223
Doubtful	—		—		—		—		—		—
Total Non-Pass	40,663		26		8,963		39,656		308		89,616
Total	$	1,212,026	$	442,777	$	1,415,808	$	1,958,346	$	685,416	$	5,714,373

Acquired loans
Pass	$	27,696	$	5,697	$	262,630	$	153,814	$	13,947	$	463,784
Non-Pass
OAEM	2,009		565		537		2,072		—		5,183
Substandard	122		—		2,387		3,287		12		5,808
Doubtful	—		—		—		—		—		—
Total Non-Pass	2,131		565		2,924		5,359		12		10,991
Total	$	29,827	$	6,262	$	265,554	$	159,173	$	13,959	$	474,775

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, 2020 and December 31, 2019. 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, 2020
	30 - 59 days past due		60 - 89 days past due		90 days or greater and still accruing		Nonaccrual		Total past due and nonaccrual		Current		Total
	(dollars in thousands)
Originated loans
Commercial, financial, agricultural and other	$	417	$	71	$	28	$	7,154	$	7,670	$	1,235,239	$	1,242,909
Real estate construction	—		—		—		—		—		408,234		408,234
Residential real estate	3,350		1,036		506		6,160		11,052		1,428,254		1,439,306
Commercial real estate	375		66		31		34,021		34,493		2,006,846		2,041,339
Loans to individuals	3,145		885		720		267		5,017		729,591		734,608
Total	$	7,287	$	2,058	$	1,285	$	47,602	$	58,232	$	5,808,164	$	5,866,396

Acquired loans
Commercial, financial, agricultural and other	$	—	$	—	$	—	$	74	$	74	$	29,257	$	29,331
Real estate construction	—		—		—		—		—		5,224		5,224
Residential real estate	513		313		66		1,850		2,742		249,092		251,834
Commercial real estate	434		—		49		2,093		2,576		146,183		148,759
Loans to individuals	73		5		27		12		117		12,283		12,400
Total	$	1,020	$	318	$	142	$	4,029	$	5,509	$	442,039	$	447,548


	December 31, 2019
	30 - 59 days past due		60 - 89 days past due		90 days or greater and still accruing		Nonaccrual		Total past due and nonaccrual		Current		Total
	(dollars in thousands)
Originated loans
Commercial, financial, agricultural and other	$	391	$	57	$	140	$	8,780	$	9,368	$	1,202,658	$	1,212,026
Real estate construction	198		—		9		—		207		442,570		442,777
Residential real estate	3,757		749		736		6,646		11,888		1,403,920		1,415,808
Commercial real estate	227		114		—		6,609		6,950		1,951,396		1,958,346
Loans to individuals	4,070		1,020		931		307		6,328		679,088		685,416
Total	$	8,643	$	1,940	$	1,816	$	22,342	$	34,741	$	5,679,632	$	5,714,373

Acquired loans
Commercial, financial, agricultural and other	$	1	$	—	$	1	$	74	$	76	$	29,751	$	29,827
Real estate construction	—		—		—		—		—		6,262		6,262
Residential real estate	304		207		221		1,949		2,681		262,873		265,554
Commercial real estate	—		107		—		298		405		158,768		159,173
Loans to individuals	87		89		35		12		223		13,736		13,959
Total	$	392	$	403	$	257	$	2,333	$	3,385	$	471,390	$	474,775

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, 2020 and December 31, 2019. 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, 2020										December 31, 2019
	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	$	958	$	1,143			$	1,848	$	6,997
Real estate construction	—		—				—		—
Residential real estate	9,909		12,056				10,372		12,437
Commercial real estate	4,447		4,965				3,015		3,210
Loans to individuals	473		840				406		640
Subtotal	15,787		19,004				15,641		23,284
With an allowance recorded:
Commercial, financial, agricultural and other	7,469		14,780		$	2,727	8,290		10,032		$	1,580
Real estate construction	—		—		—		—		—		—
Residential real estate	255		358		—		474		498		1
Commercial real estate	31,451		31,484		6,868		5,293		5,308		851
Loans to individuals	—		—		—		—		—		—
Subtotal	39,175		46,622		9,595		14,057		15,838		2,432
Total	$	54,962	$	65,626	$	9,595	$	29,698	$	39,122	$	2,432


	March 31, 2020										December 31, 2019
	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	$	74	$	74			$	73	$	73
Real estate construction	—		—				—		—
Residential real estate	2,000		2,468				2,136		2,585
Commercial real estate	245		261				298		320
Loans to individuals	12		15				12		15
Subtotal	2,331		2,818				2,519		2,993
With an allowance recorded:
Commercial, financial, agricultural and other	—		—		$	—	—		—		$	—
Real estate construction	—		—		—		—		—		—
Residential real estate	—		—		—		—		—		—
Commercial real estate	1,847		1,862		204		—		—		—
Loans to individuals	—		—		—		—		—		—
Subtotal	1,847		1,862		204		—		—		—
Total	$	4,178	$	4,680	$	204	$	2,519	$	2,993	$	—


	For the Three Months Ended March 31,
	2020														2019
	Originated Loans						Acquired Loans						Originated Loans				Acquired Loans
	Average recorded investment		Interest income recognized		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	$	925	$	4	$	74	$	—	$	2,707	$	13	$	439	$	—
Real estate construction	—		—		—		—		—		—		—		—
Residential real estate	10,529		78		2,090		2		10,798		72		1,981		1
Commercial real estate	4,086		22		229		—		3,994		36		982		1
Loans to individuals	445		3		12		—		324		1		14		—
Subtotal	15,985		107		2,405		2		17,823		122		3,416		2
With an allowance recorded:
Commercial, financial, agricultural and other	7,838		18		—		—		3,068		3		—		—
Real estate construction	—		—		—		—		—		—		—		—
Residential real estate	325		—		—		—		604		5		—		—
Commercial real estate	13,114		1		616		—		3,278		1		—		—
Loans to individuals	—		—		—		—		—		—		—		—
Subtotal	21,277		19		616		—		6,950		9		—		—
Total	$	37,262	$	126	$	3,021	$	2	$	24,773	$	131	$	3,416	$	2

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, 2020		December 31, 2019
	(dollars in thousands)
Troubled debt restructured loans
Accrual status	$	7,509	$	7,542
Nonaccrual status	5,522		6,037
Total	$	13,031	$	13,579
Commitments
Letters of credit	$	60	$	60
Unused lines of credit	213		163
Total	$	273	$	223

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, 2020
		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	—	$	—	$	—	$	—	$	—	$	—	$	—

Residential real estate	2	—		—		118		118		117		—
Commercial real estate	2	—		—		12		12		12		—
Loans to individuals	8	—		18		129		147		144		—
Total	12	$	—	$	18	$	259	$	277	$	273	$	—


	For the Three Months Ended March 31, 2019
		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	$	—	$	—	$	61	$	61	$	62	$	—

Residential real estate	6	17		49		514		580		570		40
Commercial real estate	2	—		556		242		798		767		—
Loans to individuals	3	—		—		48		48		46		—
Total	12	$	17	$	605	$	865	$	1,487	$	1,445	$	40

The troubled debt restructurings included in the above tables are also included in the impaired loan tables provided earlier in this note. Loans defined as modified due to a change in rate may include loans that were modified for a change in rate as well as a re-amortization of the principal and an extension of the maturity. For the three months ended March 31, 2020 and 2019, $18 thousand and $0.6 million, respectively, of total rate modifications represent loans with modifications to the rate as well as

payment as a result of re-amortization. For both 2020 and 2019 the changes in loan balances between the pre-modification balance and the post-modification balance are due to customer payments.

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 loans that were restructured within the past twelve months and that were considered to be in default during the three months ended March 31:



	2020				2019
	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
	(dollars in thousands)


Residential real estate	1	$	71	—	$	—

Loans to individuals	—	—		1	10
Total	1	$	71	1	$	10

Allowance for Credit Losses

he following tables provide detail related to the allowance for credit losses:


	For the Three Months Ended March 31, 2020
	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	$	20,221	$	2,558	$	4,091	$	19,731	$	4,984	$	51,585
Charge-offs	(486)		—		(552)		(265)		(2,483)		(3,786)
Recoveries	68		—		62		44		212		386
Provision (credit)	7,575		294		4,123		11,755		5,555		29,302
Ending balance	27,378		2,852		7,724		31,265		8,268		77,487
Acquired loans:
Beginning balance	13		—		2		37		—		52
Charge-offs	—		—		(25)		(1)		(136)		(162)
Recoveries	13		—		13		—		7		33
Provision (credit)	324		—		10		1,202		129		1,665
Ending balance	350		—		—		1,238		—		1,588
Total ending balance	$	27,728	$	2,852	$	7,724	$	32,503	$	8,268	$	79,075
Ending balance: individually evaluated for impairment	$	2,727	$	—	$	—	$	7,072	$	—	$	9,799
Ending balance: collectively evaluated for impairment	25,001		2,852		7,724		25,431		8,268		69,276
Loans:
Ending balance	1,272,240		413,458		1,691,140		2,190,098		747,008		6,313,944
Ending balance: individually evaluated for impairment	7,544		—		1,506		36,513		—		45,563
Ending balance: collectively evaluated for impairment	1,264,696		413,458		1,689,634		2,153,585		747,008		6,268,381


	For the Three Months Ended March 31, 2019
	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	$	19,235		$	2,002	$	3,934	$	18,382	$	4,033	$	47,586
Charge-offs	(483)			—		(136)		(299)		(1,110)		(2,028)
Recoveries	76			42		81		41		114		354
Provision (credit)	987			210		271		1,094		1,126		3,688
Ending balance	19,815			2,254		4,150		19,218		4,163		49,600
Acquired loans:
Beginning balance	139			—		35		4		—		178
Charge-offs	(526)			—		(45)		—		(5)		(576)
Recoveries	11		—	—		24		—		9		44
Provision (credit)	394			—		21		(4)		(4)		407
Ending balance	18			—		35		—		—		53
Total ending balance	$	19,833		$	2,254	$	4,185	$	19,218	$	4,163	$	49,653
Ending balance: individually evaluated for impairment	$	1,012		$	—	$	119	$	914	$	—	$	2,045
Ending balance: collectively evaluated for impairment	18,821			2,254		4,066		18,304		4,163		47,608
Loans:
Ending balance	1,180,320			389,387		1,565,349		2,138,376		597,638		5,871,070
Ending balance: individually evaluated for impairment	5,627			—		3,938		11,111		—		20,676
Ending balance: collectively evaluated for impairment	1,174,693			389,387		1,561,411		2,127,265		597,638		5,850,394