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Loans (Tables)
 6 Months Ended
Jun. 30, 2017
Receivables [Abstract]  
Summary of Loans
The following is a summary of loans:
(Dollars in thousands)
June 30, 2017
 
December 31, 2016
 
Amount

 
%

 
Amount

 
%

Commercial:
 
 
 
 
 
 
 
Mortgages (1)

$1,009,096

 
32
%
 

$1,074,186

 
33
%
Construction & development (2)
112,177

 
4

 
121,371

 
4

Commercial & industrial (3)
577,116

 
17

 
576,109

 
18

Total commercial
1,698,389

 
53

 
1,771,666

 
55

Residential Real Estate:
 
 
 
 
 
 
 
Mortgages
1,143,416

 
36

 
1,094,824

 
34

Homeowner construction
24,689

 
1

 
27,924

 
1

Total residential real estate
1,168,105

 
37

 
1,122,748

 
35

Consumer:
 
 
 
 
 
 
 
Home equity lines
263,934

 
8

 
264,200

 
8

Home equity loans
35,173

 
1

 
37,272

 
1

Other (4)
34,499

 
1

 
38,485

 
1

Total consumer
333,606

 
10

 
339,957

 
10

Total loans (5)

$3,200,100

 
100
%
 

$3,234,371

 
100
%
(1)
Loans primarily secured by income producing property.
(2)
Loans for construction of commercial properties, loans to developers for construction of residential properties and loans for land development.
(3)
Loans to businesses and individuals, a substantial portion of which are fully or partially collateralized by real estate.
(4)
Loans to individuals secured by general aviation aircraft and other personal installment loans.
(5)
Includes net unamortized loan origination costs of $3.7 million and $3.0 million, respectively, at June 30, 2017 and December 31, 2016 and net unamortized premiums on purchased loans of $854 thousand and $783 thousand, respectively, at June 30, 2017 and December 31, 2016.
Nonaccrual Loans
The following is a summary of nonaccrual loans, segregated by class of loans:
(Dollars in thousands)
Jun 30,
2017
 
Dec 31,
2016
Commercial:
 
 
 
Mortgages

$6,422

 

$7,811

Construction & development
—

 
—

Commercial & industrial
1,232

 
1,337

Residential Real Estate:
 
 
 
Mortgages
11,815

 
11,736

Homeowner construction
—

 
—

Consumer:
 
 
 
Home equity lines
118

 
—

Home equity loans
502

 
1,058

Other
109

 
116

Total nonaccrual loans

$20,198

 

$22,058

Accruing loans 90 days or more past due

$—

 

$—
Past Due Loans
Past due status is based on the contractual payment terms of the loan. The following tables present an age analysis of past due loans, segregated by class of loans:
(Dollars in thousands)
Days Past Due
 
 
 
 
 
 
June 30, 2017
30-59
 
60-89
 
Over 90
 
Total Past Due
 
Current
 
Total Loans
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Mortgages

$—

 

$1

 

$6,421

 

$6,422

 

$1,002,674

 

$1,009,096

Construction & development
—

 
—

 
—

 
—

 
112,177

 
112,177

Commercial & industrial
3,194

 
321

 
494

 
4,009

 
573,107

 
577,116

Residential Real Estate:
 
 
 
 
 
 
 
 
 
 
 
Mortgages
3,524

 
1,371

 
3,962

 
8,857

 
1,134,559

 
1,143,416

Homeowner construction
—

 
—

 
—

 
—

 
24,689

 
24,689

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity lines
335

 
—

 
—

 
335

 
263,599

 
263,934

Home equity loans
995

 
317

 
159

 
1,471

 
33,702

 
35,173

Other
25

 
—

 
1

 
26

 
34,473

 
34,499

Total loans

$8,073

 

$2,010

 

$11,037

 

$21,120

 

$3,178,980

 

$3,200,100


(Dollars in thousands)
Days Past Due
 
 
 
 
 
 
December 31, 2016
30-59
 
60-89
 
Over 90
 
Total Past Due
 
Current
 
Total Loans
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Mortgages

$901

 

$—

 

$7,807

 

$8,708

 

$1,065,478

 

$1,074,186

Construction & development
—

 
—

 
—

 
—

 
121,371

 
121,371

Commercial & industrial
409

 
—

 
745

 
1,154

 
574,955

 
576,109

Residential Real Estate:
 
 
 
 
 
 
 
 
 
 
 
Mortgages
5,381

 
652

 
6,193

 
12,226

 
1,082,598

 
1,094,824

Homeowner construction
—

 
—

 
—

 
—

 
27,924

 
27,924

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity lines
655

 
26

 
—

 
681

 
263,519

 
264,200

Home equity loans
776

 
76

 
658

 
1,510

 
35,762

 
37,272

Other
32

 
1

 
110

 
143

 
38,342

 
38,485

Total loans

$8,154

 

$755

 

$15,513

 

$24,422

 

$3,209,949

 

$3,234,371
Impaired Loans
The following is a summary of impaired loans:
(Dollars in thousands)
Recorded Investment (1)
 
Unpaid Principal
 
Related Allowance
 
Jun 30,
2017
 
Dec 31,
2016
 
Jun 30,
2017
 
Dec 31,
2016
 
Jun 30,
2017
 
Dec 31,
2016
No Related Allowance Recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Mortgages

$782

 

$4,676

 

$778

 

$9,019

 

$—

 

$—

Construction & development
—

 
—

 
—

 
—

 
—

 
—

Commercial & industrial
5,256

 
6,458

 
5,427

 
6,550

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
Mortgages
14,669

 
14,385

 
14,785

 
14,569

 
—

 
—

Homeowner construction
—

 
—

 
—

 
—

 
—

 
—

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity lines
118

 
—

 
118

 
—

 
—

 
—

Home equity loans
502

 
1,137

 
502

 
1,177

 
—

 
—

Other
—

 
116

 
7

 
116

 
—

 
—

Subtotal
21,327

 
26,772

 
21,617

 
31,431

 
—

 
—

With Related Allowance Recorded:
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Mortgages

$7,603

 

$5,104

 

$11,091

 

$6,087

 

$485

 

$448

Construction & development
—

 
—

 
—

 
—

 
—

 
—

Commercial & industrial
1,706

 
662

 
1,765

 
699

 
718

 
3

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
Mortgages
1,062

 
1,285

 
1,087

 
1,310

 
135

 
151

Homeowner construction
—

 
—

 
—

 
—

 
—

 
—

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity lines
—

 
—

 
—

 
—

 
—

 
—

Home equity loans
—

 
—

 
—

 
—

 
—

 
—

Other
135

 
28

 
136

 
29

 
7

 
4

Subtotal
10,506

 
7,079

 
14,079

 
8,125

 
1,345

 
606

Total impaired loans

$31,833

 

$33,851

 

$35,696

 

$39,556

 

$1,345

 

$606

Total:
 
 
 
 
 
 
 
 
 
 
 
Commercial

$15,347

 

$16,900

 

$19,061

 

$22,355

 

$1,203

 

$451

Residential real estate
15,731

 
15,670

 
15,872

 
15,879

 
135

 
151

Consumer
755

 
1,281

 
763

 
1,322

 
7

 
4

Total impaired loans

$31,833

 

$33,851

 

$35,696

 

$39,556

 

$1,345

 

$606

(1)
The recorded investment in impaired loans consists of unpaid principal balance, net of charge-offs, interest payments received applied to principal and unamortized deferred loan origination fees and costs. For impaired accruing loans (troubled debt restructurings for which management has concluded that the collectibility of the loan is not in doubt), the recorded investment also includes accrued interest.

The following tables present the average recorded investment balance of impaired loans and interest income recognized on impaired loans segregated by loan class.
 
 
 
 
 
 
 
 
(Dollars in thousands)
Average Recorded Investment
 
Interest Income Recognized
Three months ended June 30,
2017
 
2016
 
2017
 
2016
Commercial:
 
 
 
 
 
 
 
Mortgages

$9,549

 

$13,677

 

$26

 

$87

Construction & development
—

 
—

 
—

 
—

Commercial & industrial
6,864

 
3,290

 
76

 
10

Residential Real Estate:


 


 


 


Mortgages
15,915

 
10,903

 
150

 
98

Homeowner construction
—

 
—

 
—

 
—

Consumer:


 


 


 


Home equity lines
95

 
315

 
2

 
6

Home equity loans
602

 
1,216

 
8

 
11

Other
140

 
151

 
2

 
2

Totals

$33,165

 

$29,552

 

$264

 

$214

 
 
 
 
 
 
 
 
(Dollars in thousands)
Average Recorded Investment
 
Interest Income Recognized
Six months ended June 30,
2017
 
2016
 
2017
 
2016
Commercial:
 
 
 
 
 
 
 
Mortgages

$9,664

 

$14,208

 

$52

 

$180

Construction & development
—

 
—

 
—

 
—

Commercial & industrial
6,914

 
3,545

 
152

 
21

Residential Real Estate:
 
 
 
 
 
 
 
Mortgages
16,076

 
10,986

 
272

 
167

Homeowner construction
—

 
—

 
—

 
—

Consumer:
 
 
 
 
 
 
 
Home equity lines
86

 
493

 
4

 
8

Home equity loans
746

 
1,195

 
16

 
24

Other
142

 
148

 
6

 
4

Totals

$33,628

 

$30,575

 

$502

 

$404
Troubled Debt Restructurings
The following tables present loans modified as a troubled debt restructuring:
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in thousands)
 
 
 
 
Outstanding Recorded Investment (1)
 
# of Loans
 
Pre-Modifications
 
Post-Modifications
Three months ended June 30,
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Mortgages
—

 
—

 

$—

 

$—

 

$—

 

$—

Construction & development
—

 
—

 
—

 
—

 
—

 
—

Commercial & industrial
—

 
1

 
—

 
133

 
—

 
133

Residential Real Estate:
 
 
 
 
 
 
 
 
 
 
 
Mortgages
—

 
1

 
—

 
3,550

 
—

 
3,550

Homeowner construction
—

 
—

 
—

 
—

 
—

 
—

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity lines
—

 
—

 
—

 
—

 
—

 
—

Home equity loans
—

 
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

 
—

Totals
—

 
2

 

$—

 

$3,683

 

$—

 

$3,683


(1)
The recorded investment in troubled debt restructurings consists of unpaid principal balance, net of charge-offs and unamortized deferred loan origination fees and costs, at the time of the restructuring. For accruing troubled debt restructured loans, the recorded investment also includes accrued interest.
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in thousands)
 
 
 
 
Outstanding Recorded Investment (1)
 
# of Loans
 
Pre-Modifications
 
Post-Modifications
Six months ended June 30,
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Mortgages
—

 
—

 

$—

 

$—

 

$—

 

$—

Construction & development
—

 
—

 
—

 
—

 
—

 
—

Commercial & industrial
—

 
1

 
—

 
133

 
—

 
133

Residential Real Estate:
 
 
 
 
 
 
 
 
 
 
 
Mortgages
—

 
1

 
—

 
3,550

 
—

 
3,550

Homeowner construction
—

 
—

 
—

 
—

 
—

 
—

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity lines
—

 
—

 
—

 
—

 
—

 
—

Home equity loans
—

 
—

 
—

 
—

 
—

 
—

Other
—

 
—

 
—

 
—

 
—

 
—

Totals
—

 
2

 

$—

 

$3,683

 

$—

 

$3,683


(1)
The recorded investment in troubled debt restructurings consists of unpaid principal balance, net of charge-offs and unamortized deferred loan origination fees and costs, at the time of the restructuring. For accruing troubled debt restructured loans, the recorded investment also includes accrued interest.
Troubled Debt Restructurings, Type of Modification
The following table provides information on how loans were modified as a troubled debt restructuring:
 
 
 
 
 
 
 
 
(Dollars in thousands)
 
 
 
 
 
 
 
 
Three months
 
Six months
Periods ended June 30,
2017
 
2016
 
2017
 
2016
Below-market interest rate concession

$—

 

$—

 

$—

 

$—

Payment deferral
—

 
—

 
—

 
—

Maturity / amortization concession
—

 
133

 
—

 
133

Interest only payments
—

 
3,550

 
—

 
3,550

Total

$—

 

$3,683

 

$—

 

$3,683
Credit Quality Indicators Commercial
The following table presents the commercial loan portfolio, segregated by category of credit quality indicator:
(Dollars in thousands)
Pass
 
Special Mention
 
Classified
 
Jun 30,
2017
 
Dec 31,
2016
 
Jun 30,
2017
 
Dec 31,
2016
 
Jun 30,
2017
 
Dec 31,
2016
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Mortgages

$1,002,508

 

$1,065,358

 

$—

 

$776

 

$6,588

 

$8,052

Construction & development
112,177

 
121,371

 
—

 
—

 
—

 
—

Commercial & industrial
556,566

 
559,416

 
12,911

 
8,938

 
7,639

 
7,755

Total commercial loans

$1,671,251

 

$1,746,145

 

$12,911

 

$9,714

 

$14,227

 

$15,807
Credit Quality Indicators Residential & Consumer
The following table presents the residential and consumer loan portfolios, segregated by category of credit quality indicator:
(Dollars in thousands)
Current and Under 90 Days Past Due
 
Over 90 Days
Past Due
 
Jun 30,
2017
 
Dec 31,
2016
 
Jun 30,
2017
 
Dec 31,
2016
Residential Real Estate:
 
 
 
 
 
 
 
Accruing mortgages

$1,131,601

 

$1,083,088

 

$—

 

$—

Nonaccrual mortgages
7,853

 
5,543

 
3,962

 
6,193

Homeowner construction
24,689

 
27,924

 
—

 
—

Total residential loans

$1,164,143

 

$1,116,555

 

$3,962

 

$6,193

Consumer:
 
 
 
 
 
 
 
Home equity lines

$263,934

 

$264,200

 

$—

 

$—

Home equity loans
35,014

 
36,614

 
159

 
658

Other
34,498

 
38,375

 
1

 
110

Total consumer loans

$333,446

 

$339,189

 

$160

 

$768