4. LOANS

Major classes of loans are as follows:


	June 30, 2015		December 31, 2014
Commercial, financial and agricultural:
Owner-occupied commercial real estate	$	962,615	$	1,016,364
Nonowner-occupied commercial real estate		2,719,910		2,760,189
Other commercial loans		1,607,719		1,577,438

Total commercial, financial & agricultural		5,290,244		5,353,991
Residential real estate		2,248,037		2,263,354
Construction & land development		1,162,742		1,133,251
Consumer:
Bankcard		10,428		10,437
Other consumer		385,850		358,459

Total gross loans	$	9,097,301	$	9,119,492

The table above does not include loans held for sale of $14,856 and $8,680 at June 30, 2015 and December 31, 2014, 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 with a recorded investment of $162,073 or 1.78% of total gross loans at June 30, 2015 and $176,339 or 1.93% of total gross loans at December 31, 2014. The contractual principal in these acquired impaired loans was $227,560 and $252,759 at June 30, 2015 and December 31, 2014, 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 first six months of 2015 follows:


Accretable yield at the beginning of the period	$	11,339
Accretion (including cash recoveries)		(5,872	)
Net reclassifications to accretable from non-accretable		7,549
Disposals (including maturities, foreclosures, and charge-offs)		(580	)

Accretable yield at the end of the period	$	12,436

United’s subsidiary banks have made loans to the directors and officers of United and its subsidiaries, and to their affiliates. The aggregate dollar amount of these loans was $186,027 and $188,516 at June 30, 2015 and December 31, 2014, respectively.