NOTE D—LOANS

Major classes of loans are as follows:


	December 31
(In thousands)	2012		2011
Commercial, financial, and agricultural
Owner-occupied	$	728,906	$	743,502
Nonowner-occupied		1,740,420		1,553,259
Other commercial		1,377,083		1,212,205

Total commercial, financial & agricultural		3,846,409		3,508,966
Residential real estate		1,838,252		1,891,725
Construction & land development		550,677		549,877
Consumer:
Bankcard		11,236		11,519
Other Consumer		271,206		272,193
Less: Unearned interest		(6,364)		(3,503)

Total Loans, net of unearned interest	$	6,511,416	$	6,230,777

The table above does not include loans held for sale of $17,762,000 and $3,902,000 at December 31, 2012 and December 31, 2011, respectively. Loans held for sale consist of single-family residential real estate loans originated for sale in the secondary market.

The outstanding balances in the table above include acquired impaired loans from the Centra merger with a recorded investment of $33,206,000 and $38,954,000, or less than 1% of total gross loans, at December 31, 2012 and 2011, respectively. The contractual principal in these acquired impaired loans was $55,685,000 and $65,051,000 at December 31, 2012 and 2011, respectively. The balances above do not include future accretable net interest (i.e. the difference between the undiscounted expected cash flows and the recorded investment in the loan) on the acquired impaired loans.

Activity for the accretable yield for the year of 2012 follows.


(In thousands)

Accretable yield at the beginning of the period	$	2,323
Accretion (including cash recoveries)		(3,145)
Net reclassifications to accretable from non-accretable		3,627
Disposals (including maturities, foreclosures, and charge-offs)		(474)

Accretable yield at the ending of the period	$	2,331

At December 31, 2012 and 2011, loans-in-process of $68,255,000 and $17,064,000 and overdrafts from deposit accounts of $11,231,000 and $10,435,000, respectively, are included within the appropriate loan classifications above.

United’s subsidiary banks have made loans, in the normal course of business, to the directors and officers of United and its subsidiaries, and to their associates. Such related party loans were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons and did not involve more than normal risk of collectibility. The aggregate dollar amount of these loans was $150,638,000 and $189,763,000 at December 31, 2012 and 2011, respectively. During 2012, $276,889,000 of new loans were made and repayments totaled $316,014,000.