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Loans (Tables)
 9 Months Ended
Sep. 30, 2012
Loans and Leases Receivable Disclosure [Abstract]  
Composition Of Loan Portfolio By Class Of Loan
The composition of the loan portfolio, by class of loan, as of September 30, 2012 and December 31, 2011 was as follows:
 
 
September 30, 2012
 
 
December 31, 2011
(In thousands)
Loan
balance
 
Accrued
interest
receivable
 
Recorded
investment
 
 
Loan
balance
 
Accrued
interest
receivable
 
Recorded
investment
Commercial, financial and agricultural *
$
772,773

 
$
3,384

 
$
776,157

 
 
$
743,797

 
$
3,121

 
$
746,918

Commercial real estate *
1,081,605

 
4,369

 
1,085,974

 
 
1,108,574

 
4,235

 
1,112,809

Construction real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Vision/SEPH commercial land and development *
15,809

 
17

 
15,826

 
 
31,603

 
31

 
31,634

Remaining commercial
138,687

 
360

 
139,047

 
 
156,053

 
394

 
156,447

Mortgage
25,791

 
83

 
25,874

 
 
20,039

 
64

 
20,103

Installment
8,792

 
35

 
8,827

 
 
9,851

 
61

 
9,912

Residential real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
395,703

 
1,080

 
396,783

 
 
395,824

 
1,105

 
396,929

Mortgage
1,047,670

 
1,916

 
1,049,586

 
 
953,758

 
1,522

 
955,280

HELOC
218,228

 
898

 
219,126

 
 
227,682

 
942

 
228,624

Installment
45,402

 
204

 
45,606

 
 
51,354

 
236

 
51,590

Consumer
646,612

 
2,751

 
649,363

 
 
616,505

 
2,930

 
619,435

Leases
3,438

 
48

 
3,486

 
 
2,059

 
43

 
2,102

Total loans
$
4,400,510

 
$
15,145

 
$
4,415,655

 
 
$
4,317,099

 
$
14,684

 
$
4,331,783

* Included within commercial, financial and agricultural loans, commercial real estate loans, and Vision/SEPH commercial land and development loans is an immaterial amount of consumer loans that are not broken out by class.
Recorded Investment In Nonaccrual Restructured And Loans Past Due 90 Days Or More And Accruing
The following tables present the recorded investment in nonaccrual, accruing restructured, and loans past due 90 days or more and still accruing by class of loan as of September 30, 2012 and December 31, 2011:
 
 
 
September 30, 2012
(In thousands)
 
Nonaccrual
loans
 
Accruing
restructured
loans
 
Loans past due
90 days or more
and accruing
 
Total
nonperforming
loans
Commercial, financial and agricultural
 
$
17,600

 
$
4,514

 
$
—

 
$
22,114

Commercial real estate
 
40,371

 
2,607

 
—

 
42,978

Construction real estate:
 
 

 
 

 
 

 
 

SEPH commercial land and development
 
13,965

 
—

 
—

 
13,965

Remaining commercial
 
15,977

 
11,441

 
—

 
27,418

Mortgage
 
158

 
101

 
—

 
259

Installment
 
155

 
177

 
—

 
332

Residential real estate:
 
 

 
 

 
 

 
 

Commercial
 
36,583

 
—

 
—

 
36,583

Mortgage
 
28,999

 
9,099

 
1,132

 
39,230

HELOC
 
2,197

 
718

 
—

 
2,915

Installment
 
1,497

 
694

 
129

 
2,320

Consumer
 
2,562

 
2,139

 
870

 
5,571

Leases
 
—

 
—

 
—

 
—

Total loans
 
$
160,064

 
$
31,490

 
$
2,131

 
$
193,685

 
 
 
December 31, 2011
(In thousands)
 
Nonaccrual
loans
 
Accruing
restructured
loans
 
Loans past due
90 days or more
and accruing
 
Total
nonperforming
loans
Commercial, financial and agricultural
 
$
37,797

 
$
2,848

 
$
—

 
$
40,645

Commercial real estate
 
43,704

 
8,274

 
—

 
51,978

Construction real estate:
 
 

 
 

 
 

 
 
Vision commercial land and development
 
25,761

 
—

 
—

 
25,761

Remaining commercial
 
14,021

 
11,891

 
—

 
25,912

Mortgage
 
66

 
—

 
—

 
66

Installment
 
30

 
—

 
—

 
30

Residential real estate:
 
 

 
 

 
 

 
 

Commercial
 
43,461

 
815

 
—

 
44,276

Mortgage
 
25,201

 
4,757

 
2,610

 
32,568

HELOC
 
1,412

 
—

 
—

 
1,412

Installment
 
1,777

 
98

 
58

 
1,933

Consumer
 
1,876

 
—

 
893

 
2,769

Leases
 
—

 
—

 
—

 
—

Total loans
 
$
195,106

 
$
28,683

 
$
3,561

 
$
227,350
Loans Individually And Collectively Evaluated For Impairment
The following table provides additional information regarding those nonaccrual and accruing restructured loans that were individually evaluated for impairment and those collectively evaluated for impairment as of September 30, 2012 and December 31, 2011.
 
 
September 30, 2012
 
 
December 31, 2011
(In thousands)
 
Nonaccrual
and accruing
restructured
loans
 
Loans
individually
evaluated for
impairment
 
Loans
collectively
evaluated for
impairment
 
 
Nonaccrual
and accruing
restructured
loans
 
Loans
individually
evaluated for
impairment
 
Loans
collectively
evaluated for
impairment
Commercial, financial and agricultural
 
$
22,114

 
$
22,103

 
$
11

 
 
$
40,645

 
$
40,621

 
$
24

Commercial real estate
 
42,978

 
42,978

 
—

 
 
51,978

 
51,978

 
—

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Vision/SEPH commercial land and development
 
13,965

 
13,261

 
704

 
 
25,761

 
24,328

 
1,433

Remaining commercial
 
27,418

 
27,418

 
—

 
 
25,912

 
25,912

 
—

Mortgage
 
259

 
—

 
259

 
 
66

 
—

 
66

Installment
 
332

 
—

 
332

 
 
30

 
—

 
30

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
36,583

 
36,583

 
—

 
 
44,276

 
44,276

 
—

Mortgage
 
38,098

 
—

 
38,098

 
 
29,958

 
—

 
29,958

HELOC
 
2,915

 
—

 
2,915

 
 
1,412

 
—

 
1,412

Installment
 
2,191

 
—

 
2,191

 
 
1,875

 
—

 
1,875

Consumer
 
4,701

 
19

 
4,682

 
 
1,876

 
20

 
1,856

Leases
 
—

 
—

 
—

 
 
—

 
—

 
—

Total loans
 
$
191,554

 
$
142,362

 
$
49,192

 
 
$
223,789

 
$
187,135

 
$
36,654
Loans Individually Evaluated For Impairment By Class Of Loans
The following table presents loans individually evaluated for impairment by class of loan as of September 30, 2012 and December 31, 2011.
 
 
 
September 30, 2012
 
 
December 31, 2011
(In thousands)
 
Unpaid
principal
balance
 
Recorded
investment
 
Allowance
for loan
losses
allocated
 
 
Unpaid
principal
balance
 
Recorded
investment
 
Allowance
for loan
losses
allocated
With no related allowance recorded:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial, financial and agricultural
 
$
36,774

 
$
14,739

 
$
—

 
 
$
23,164

 
$
18,098

 
$
—

Commercial real estate
 
57,045

 
36,215

 
—

 
 
58,242

 
41,506

 
—

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Vision/SEPH commercial land and development
 
57,629

 
13,261

 
—

 
 
54,032

 
17,786

 
—

Remaining commercial
 
32,831

 
18,597

 
—

 
 
33,319

 
18,372

 
—

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
42,535

 
32,495

 
—

 
 
49,341

 
38,686

 
—

Consumer
 
19

 
19

 
—

 
 
20

 
20

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
With an allowance recorded:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial, financial and agricultural
 
11,333

 
7,364

 
2,005

 
 
23,719

 
22,523

 
5,819

Commercial real estate
 
7,214

 
6,763

 
1,134

 
 
12,183

 
10,472

 
4,431

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Vision/SEPH commercial land and development
 
—

 
—

 
—

 
 
20,775

 
6,542

 
1,540

Remaining commercial
 
9,193

 
8,821

 
3,334

 
 
9,711

 
7,540

 
1,874

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
5,254

 
4,088

 
1,106

 
 
6,402

 
5,590

 
2,271

Consumer
 
—

 
—

 
—

 
 
—

 
—

 
—

Total
 
$
259,827

 
$
142,362

 
$
7,579

 
 
$
290,908

 
$
187,135

 
$
15,935
Average Recorded Investment And Interest Income Recognized On Loans Individually Evaluated For Impairment
The following table presents the average recorded investment and interest income recognized on loans individually evaluated for impairment as of and for the three and nine months ended September 30, 2012 and September 30, 2011:

 
Three Months Ended
September 30, 2012
 
 
Three Months Ended
September 30, 2011
(In thousands)
Recorded investment as of September 30, 2012
 
Average
recorded
investment
 
Interest
income
recognized
 
 
Recorded investment as of September 30, 2011
 
Average
recorded
investment
 
Interest
income
recognized
Commercial, financial and agricultural
$
22,103

 
$
35,720

 
$
100

 
 
$
24,925

 
$
24,049

 
$
49

Commercial real estate
42,978

 
43,499

 
351

 
 
44,099

 
45,162

 
26

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Vision/SEPH commercial land and development
13,261

 
14,991

 
—

 
 
42,036

 
43,555

 
—

   Remaining commercial
27,418

 
28,400

 
411

 
 
33,961

 
34,027

 
116

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
36,583

 
37,121

 
233

 
 
47,422

 
48,064

 
—

Consumer
19

 
19

 
—

 
 
21

 
21

 
—

Total
$
142,362

 
$
159,750

 
$
1,095

 
 
$
192,464

 
$
194,878

 
$
191


 
 
Nine Months Ended
September 30, 2012
 
 
Nine Months Ended
September 30, 2011
(In thousands)
Recorded investment as of September 30, 2012
 
Average
recorded
investment
 
Interest
income
recognized
 
 
Recorded investment as of September 30, 2011
 
Average
recorded
investment
 
Interest
income
recognized
Commercial, financial and agricultural
$
22,103

 
$
38,989

 
$
410

 
 
$
24,925

 
$
21,361

 
$
155

Commercial real estate
42,978

 
45,026

 
845

 
 
44,099

 
50,874

 
150

Construction real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Vision/SEPH commercial land and development
13,261

 
18,481

 
—

 
 
42,036

 
67,135

 
—

Remaining commercial
27,418

 
28,633

 
861

 
 
33,961

 
29,573

 
330

Residential real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
36,583

 
40,199

 
398

 
 
47,422

 
54,454

 
153

Consumer
19

 
19

 
1

 
 
21

 
15

 
1

Total
$
142,362

 
$
171,347

 
$
2,515

 
 
$
192,464

 
$
223,412

 
$
789
Aging Of Recorded Investment In Past Due Loans
The following tables present the aging of the recorded investment in past due loans as of September 30, 2012 and December 31, 2011 by class of loan.
 
 
September 30, 2012
(In thousands)
Accruing loans
past due 30-89
days
 
Past due 
nonaccrual
loans and loans past
due 90 days or
more and 
accruing*
 
Total past due
 
Total current
 
Total recorded
investment
Commercial, financial and agricultural
$
2,096

 
$
12,214

 
$
14,310

 
$
761,847

 
$
776,157

Commercial real estate
6,205

 
16,830

 
23,035

 
1,062,939

 
1,085,974

Construction real estate:
 

 
 

 
 

 
 

 
 

SEPH commercial land and development
497

 
10,611

 
11,108

 
4,718

 
15,826

Remaining commercial
47

 
5,327

 
5,374

 
133,673

 
139,047

Mortgage
560

 
85

 
645

 
25,229

 
25,874

Installment
284

 
40

 
324

 
8,503

 
8,827

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
2,134

 
9,002

 
11,136

 
385,647

 
396,783

Mortgage
12,397

 
18,558

 
30,955

 
1,018,631

 
1,049,586

HELOC
484

 
634

 
1,118

 
218,008

 
219,126

Installment
747

 
781

 
1,528

 
44,078

 
45,606

Consumer
11,194

 
3,064

 
14,258

 
635,105

 
649,363

Leases
—

 
—

 
—

 
3,486

 
3,486

Total loans
$
36,645

 
$
77,146

 
$
113,791

 
$
4,301,864

 
$
4,415,655


* Includes $2.1 million of loans past due 90 days or more and accruing. The remaining are past due, nonaccrual loans.
 
 
December 31, 2011
(in thousands)
Accruing loans
past due 30-89
days
 
Past due
nonaccrual 
loans and loans past
due 90 days or
more and
accruing*
 
Total past due
 
Total current
 
Total recorded
investment
Commercial, financial and agricultural
$
3,106

 
$
11,308

 
$
14,414

 
$
732,504

 
$
746,918

Commercial real estate
2,632

 
21,798

 
24,430

 
1,088,379

 
1,112,809

Construction real estate:
 

 
 

 
 
 
 

 
 

Vision commercial land and development
—

 
19,235

 
19,235

 
12,399

 
31,634

Remaining commercial
99

 
7,839

 
7,938

 
148,509

 
156,447

Mortgage
76

 
—

 
76

 
20,027

 
20,103

Installment
421

 
8

 
429

 
9,483

 
9,912

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
1,545

 
10,097

 
11,642

 
385,287

 
396,929

Mortgage
15,879

 
20,614

 
36,493

 
918,787

 
955,280

HELOC
1,015

 
436

 
1,451

 
227,173

 
228,624

Installment
1,549

 
1,136

 
2,685

 
48,905

 
51,590

Consumer
11,195

 
2,192

 
13,387

 
606,048

 
619,435

Leases
—

 
—

 
—

 
2,102

 
2,102

Total loans
$
37,517

 
$
94,663

 
$
132,180

 
$
4,199,603

 
$
4,331,783

* Includes $3.6 million of loans past due 90 days or more and accruing. The remaining are past due, nonaccrual loans.
Recorded Investment By Loan Grade
The tables below present the recorded investment by loan grade at September 30, 2012 and December 31, 2011 for all commercial loans:
 
 
September 30, 2012
(In thousands)
5 Rated
 
6 Rated
 
Impaired
 
Pass Rated
 
Recorded
Investment
Commercial, financial and agricultural *
$
5,655

 
$
12,942

 
$
22,114

 
$
735,446

 
$
776,157

Commercial real estate *
31,877

 
6,158

 
42,978

 
1,004,961

 
1,085,974

Construction real estate:
 

 
 

 
 

 
 

 
 

SEPH commercial land and development *
893

 
—

 
13,965

 
968

 
15,826

Remaining commercial
7,903

 
—

 
27,418

 
103,726

 
139,047

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
10,964

 
1,327

 
36,583

 
347,909

 
396,783

Leases
—

 
—

 
—

 
3,486

 
3,486

Total Commercial Loans
$
57,292

 
$
20,427

 
$
143,058

 
$
2,196,496

 
$
2,417,273

 * Included within commercial, financial and agricultural loans, commercial real estate loans, and SEPH commercial land and development loans is an immaterial amount of consumer loans that are not broken out by class.
 
December 31, 2011
(In thousands)
5 Rated
 
6 Rated
 
Impaired
 
Pass Rated
 
Recorded
Investment
Commercial, financial and agricultural *
$
11,785

 
$
7,628

 
$
40,645

 
$
686,860

 
$
746,918

Commercial real estate *
37,445

 
10,460

 
51,978

 
1,012,926

 
1,112,809

Construction real estate:
 

 
 

 
 

 
 

 
 

Vision commercial land and development *
3,102

 
—

 
25,761

 
2,771

 
31,634

Remaining commercial
6,982

 
8,311

 
25,912

 
115,242

 
156,447

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
17,120

 
3,785

 
44,276

 
331,748

 
396,929

Leases
—

 
—

 
—

 
2,102

 
2,102

Total Commercial Loans
$
76,434

 
$
30,184

 
$
188,572

 
$
2,151,649

 
$
2,446,839
TDR Number Of Contracts Modified And Recorded Investment
The following tables detail the number of contracts modified as TDRs during the three and nine month periods ended September 30, 2012 as well as the recorded investment of these contracts at September 30, 2012. The recorded investment pre- and post-modification is generally the same.

 
Three Months Ended
September 30, 2012
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
12

 
$
121

 
$
418

 
$
539

Commercial real estate
2

 
—

 
257

 
257

Construction real estate:
 
 
 
 
 
 
 
  SEPH commercial land and development
2

 
—

 
60

 
60

  Remaining commercial
3

 
—

 
369

 
369

  Mortgage
2

 
101

 
85

 
186

  Installment
6

 
177

 
97

 
274

Residential real estate:
 
 
 
 
 
 
 
  Commercial
5

 
—

 
610

 
610

  Mortgage
82

 
3,780

 
2,000

 
5,780

  HELOC
43

 
718

 
143

 
861

  Installment
48

 
675

 
271

 
946

Consumer
526

 
2,047

 
895

 
2,942

Leases
—

 
—

 
—

 
—

Total loans
731

 
$
7,619

 
$
5,205

 
$
12,824


 
 
Nine Months Ended
September 30, 2012
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
28

 
$
2,195

 
$
1,910

 
$
4,105

Commercial real estate
22

 
1,823

 
3,432

 
5,255

Construction real estate:
 

 
 

 
 

 
 

SEPH commercial land and development
6

 
—

 
887

 
887

Remaining commercial
13

 
3,695

 
6,561

 
10,256

Mortgage
2

 
101

 
85

 
186

Installment
6

 
177

 
97

 
274

Residential real estate:
 

 
 

 
 

 
 

Commercial
10

 
—

 
871

 
871

Mortgage
97

 
4,006

 
4,361

 
8,367

HELOC
43

 
718

 
143

 
861

Installment
51

 
675

 
440

 
1,115

Consumer
527

 
2,138

 
895

 
3,033

Leases
—

 
—

 
—

 
—

Total loans
805

 
$
15,528

 
$
19,682

 
$
35,210
Recorded Investment In Financing Receivable Modified As TDR Within 12 Months
The following table presents the recorded investment in financing receivables which were modified as TDRs within the previous 12 months and for which there was a payment default during the three and/or nine month period ended September 30, 2012. For this table, a loan is considered to be in default when it becomes 30 days contractually past due under the modified terms.
 
 
Three Months Ended
September 30, 2012
 
 
Nine Months Ended
September 30, 2012
(In thousands)
Number of
Contracts
 
Recorded
Investment
 
 
Number of
Contracts
 
Recorded
Investment
Commercial, financial and agricultural
10

 
$
4,800

 
 
13

 
$
4,935

Commercial real estate
6

 
1,224

 
 
7

 
1,936

Construction real estate:
 

 
 

 
 
 

 
 

SEPH commercial land and development
6

 
2,435

 
 
6

 
2,435

Remaining commercial
6

 
2,172

 
 
7

 
2,275

Mortgage
1

 
85

 
 
1

 
85

Installment
1

 
16

 
 
2

 
43

Residential real estate:
 

 
 

 
 
 

 
 

Commercial
4

 
1,201

 
 
4

 
1,201

Mortgage
32

 
2,657

 
 
36

 
3,016

HELOC
8

 
92

 
 
9

 
104

Installment
8

 
227

 
 
10

 
312

Consumer
129

 
796

 
 
154

 
898

Leases
—

 
—

 
 
—

 
—

Total loans
211

 
$
15,705

 
 
249

 
$
17,240