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Loans (Tables)
 12 Months Ended
Dec. 31, 2012
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of composition of loan portfolio by class of loan
The composition of the loan portfolio, by class of loan, as of December 31, 2012 and December 31, 2011 was as follows:
 
 
December 31, 2012
 
 
December 31, 2011
(In thousands)
 
Loan Balance
 
Accrued Interest Receivable
 
Recorded Investment
 
 
Loan Balance
 
Accrued Interest Receivable
 
Recorded Investment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural *
 
$
823,927

 
$
2,976

 
$
826,903

 
 
$
743,797

 
$
3,121

 
$
746,918

Commercial real estate *
 
1,092,164

 
3,839

 
1,096,003

 
 
1,108,574

 
4,235

 
1,112,809

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
SEPH/Vision commercial land and development *
 
15,105

 
37

 
15,142

 
 
31,603

 
31

 
31,634

Remaining commercial
 
115,473

 
331

 
115,804

 
 
156,053

 
394

 
156,447

Mortgage
 
26,373

 
81

 
26,454

 
 
20,039

 
64

 
20,103

Installment
 
8,577

 
33

 
8,610

 
 
9,851

 
61

 
9,912

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
392,203

 
959

 
393,162

 
 
395,824

 
1,105

 
396,929

Mortgage
 
1,064,787

 
1,399

 
1,066,186

 
 
953,758

 
1,522

 
955,280

HELOC
 
212,905

 
892

 
213,797

 
 
227,682

 
942

 
228,624

Installment
 
43,750

 
176

 
43,926

 
 
51,354

 
236

 
51,590

Consumer
 
651,930

 
2,835

 
654,765

 
 
616,505

 
2,930

 
619,435

Leases
 
3,128

 
29

 
3,157

 
 
2,059

 
43

 
2,102

Total loans
 
$
4,450,322

 
$
13,587

 
$
4,463,909

 
 
$
4,317,099

 
$
14,684

 
$
4,331,783

* Included within commercial, financial and agricultural loans, commercial real estate loans, and SEPH/Vision commercial land and development loans are an immaterial amount of consumer loans that are not broken out by class.
Schedule of recorded investment in nonaccrual restructured and loans past due 90 days or more and accruing
The following table presents the recorded investment in nonaccrual, accruing restructured, and loans past due 90 days or more and still accruing by class of loan as of December 31, 2012 and December 31, 2011:
 


December 31, 2012
(In thousands)

Nonaccrual Loans

Accruing Restructured Loans

Loans Past Due 90 Days or More and Accruing

Total Nonperforming Loans
Commercial, financial and agricultural

$
17,324


$
5,277


$
37


$
22,638

Commercial real estate

40,983


3,295


1,007


45,285

Construction real estate:












 SEPH commercial land and development

13,939


—


—


13,939

Remaining commercial

14,977


6,597


—


21,574

Mortgage

158


100


—


258

Installment

149


175


—


324

Residential real estate:












Commercial

33,961


1,661


94


35,716

Mortgage

28,260


9,425


950


38,635

HELOC

1,689


736


—


2,425

Installment

1,670


780


54


2,504

Consumer

2,426


1,900


888


5,214

Total loans

$
155,536


$
29,946


$
3,030


$
188,512


 
 
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

Total loans
 
$
195,106

 
$
28,683

 
$
3,561

 
$
227,350
Schedule of loans individually evaluated for impairment and loans collectively evaluated for impairment
The following table provides additional information regarding those nonaccrual and accruing restructured loans that are individually evaluated for impairment and those collectively evaluated for impairment as of December 31, 2012 and December 31, 2011.
 
 
 
December 31, 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
 
$
22,601

 
$
22,587

 
$
14

 
 
$
40,645

 
$
40,621

 
$
24

Commercial real estate
 
44,278

 
44,278

 
—

 
 
51,978

 
51,978

 
—

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
SEPH/Vision commercial land and development
 
13,939

 
13,260

 
679

 
 
25,761

 
24,328

 
1,433

Remaining commercial
 
21,574

 
21,574

 
—

 
 
25,912

 
25,912

 
—

Mortgage
 
258

 
—

 
258

 
 
66

 
—

 
66

Installment
 
324

 
—

 
324

 
 
30

 
—

 
30

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
35,622

 
35,622

 
—

 
 
44,276

 
44,276

 
—

Mortgage
 
37,685

 
—

 
37,685

 
 
29,958

 
—

 
29,958

HELOC
 
2,425

 
—

 
2,425

 
 
1,412

 
—

 
1,412

Installment
 
2,450

 
—

 
2,450

 
 
1,875

 
—

 
1,875

Consumer
 
4,326

 
18

 
4,308

 
 
1,876

 
20

 
1,856

Total loans
 
$
185,482

 
$
137,339

 
$
48,143

 
 
$
223,789

 
$
187,135

 
$
36,654
Schedule of loans individually evaluated for impairment by class of loan
The following table presents loans individually evaluated for impairment by class of loan as of December 31, 2012 and December 31, 2011.
 


December 31, 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

$
23,782


$
14,683


$
—

 

$
23,164


$
18,098


$
—

Commercial real estate

56,258


35,097


—

 

58,242


41,506


—

Construction real estate:









 

 
 
 
 
 
SEPH/Vision commercial land and development

56,075


12,740


—

 

54,032


17,786


—

Remaining commercial

29,328

 
14,093

 
—

 

33,319


18,372


—

Residential real estate:



 


 


 

 
 
 
 
 
Commercial

39,918

 
31,957

 
—

 

49,341


38,686


—

Consumer

18

 
18

 
—

 

—


—


—

With an allowance recorded

 
 
 
 
 
 

 
 
 
 
 
Commercial, financial and agricultural

12,268

 
7,904

 
3,180

 

23,719


22,523


5,819

Commercial real estate

11,412

 
9,181

 
1,540

 

12,183


10,472


4,431

Construction real estate:

 
 
 
 
 
 

 
 
 
 
 
SEPH/Vision commercial land and development

1,271

 
520

 
—

 

20,775


6,542


1,540

Remaining commercial

8,071

 
7,481

 
2,277

 

9,711


7,540


1,874

Residential real estate:

 
 
 
 
 
 

 
 
 
 
 
Commercial

3,944

 
3,665

 
1,279

 

6,402


5,590


2,271

Consumer

—

 
—

 
—

 

20


20


—

Total

$
242,345


$
137,339


$
8,276

 

$
290,908


$
187,135


$
15,935
Schedule of average recorded investment and interest income recognized on loans individually evaluated for impairment
The following tables present the average recorded investment and interest income recognized on loans individually evaluated for impairment for the years ended December 31, 2012 and 2011.
  
 
 
 
 
Year ended
December 31, 2012
(In thousands)
 
Recorded Investment as of December 31, 2012
 
Average recorded investment
 
Interest income recognized
Commercial, financial and agricultural
 
$
22,587

 
$
35,305

 
$
529

Commercial real estate
 
44,278

 
44,541

 
968

Construction real estate:
 
 
 
 
 
 
SEPH commercial land and development
 
13,260

 
17,277

 
—

   Remaining commercial
 
21,574

 
27,774

 
818

Residential real estate:
 
 
 
 
 
 
   Commercial
 
35,622

 
39,248

 
497

Consumer
 
18

 
19

 
1

Total
 
$
137,339

 
$
164,164

 
$
2,813


 
 
 
 
 
Year ended
December 31, 2011
(In thousands)
 
Recorded Investment as of December 31, 2011
 
Average recorded investment
 
Interest income recognized
 Commercial, financial and agricultural
 
$
40,621

 
$
23,518

 
$
209

 Commercial real estate
 
51,978

 
49,927

 
829

 Construction real estate:
 
 
 
 
 
 
Vision commercial land and development
 
24,328

 
58,792

 
—

     Remaining commercial
 
25,912

 
29,152

 
339

 Residential real estate:
 
 
 
 
 
 
     Commercial
 
44,276

 
52,640

 
214

 Consumer
 
20

 
16

 
1

Total
 
$
187,135

 
$
214,045

 
$
1,592
Schedule of aging of the recorded investment in past due loans
The following table presents the aging of the recorded investment in past due loans as of December 31, 2012 and December 31, 2011 by class of loan.
 
 
December 31, 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
 
$
6,251

 
$
11,811

 
$
18,062

 
$
808,841

 
$
826,903

Commercial real estate
 
2,212

 
26,355

 
28,567

 
1,067,436

 
1,096,003

Construction real estate:
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
686

 
11,314

 
12,000

 
3,142

 
15,142

Remaining commercial
 
3,652

 
5,838

 
9,490

 
106,314

 
115,804

Mortgage
 
171

 
85

 
256

 
26,198

 
26,454

Installment
 
135

 
40

 
175

 
8,435

 
8,610

Residential real estate:
 
 
 
 
 
 
 
 
 
 
Commercial
 
1,163

 
5,917

 
7,080

 
386,082

 
393,162

Mortgage
 
11,948

 
17,370

 
29,318

 
1,036,868

 
1,066,186

HELOC
 
620

 
309

 
929

 
212,868

 
213,797

Installment
 
563

 
787

 
1,350

 
42,576

 
43,926

Consumer
 
12,924

 
2,688

 
15,612

 
639,153

 
654,765

Leases
 
—

 
—

 
—

 
3,157

 
3,157

Total loans
 
$
40,325

 
$
82,514

 
$
122,839

 
$
4,341,070

 
$
4,463,909

 * Includes $3.0 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
Schedule of recorded investment by loan grade
The tables below present the recorded investment by loan grade at December 31, 2012 and December 31, 2011 for all commercial loans:
 
 
 
December 31, 2012
(In thousands)
 
5 Rated
 
6 Rated
 
Impaired
 
Pass Rated
 
Recorded Investment
Commercial, financial and agricultural
 
$
9,537

 
$
10,874

 
$
22,601

 
$
783,891

 
$
826,903

Commercial real estate
 
25,616

 
3,960

 
44,278

 
1,022,149

 
1,096,003

Construction real estate:
 
 
 
 
 
 
 
 
 
 
  SEPH commercial land and development
 
411

 
—

 
13,939

 
792

 
15,142

  Remaining commercial
 
6,734

 
—

 
21,574

 
87,496

 
115,804

Residential real estate:
 
 
 
 
 
 
 
 
 
 
  Commercial
 
8,994

 
2,053

 
35,622

 
346,493

 
393,162

Leases
 
—

 
—

 
—

 
3,157

 
3,157

Total Commercial Loans
 
$
51,292

 
$
16,887

 
$
138,014

 
$
2,243,978

 
$
2,450,171


 
 
 
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
Schedule of troubled debt restructurings on financing receivables
The following tables detail the number of contracts modified as TDRs during the period ended December 31, 2012 and December 31, 2011 as well as the recorded investment of these contracts at December 31, 2012 and December 31, 2011. The recorded investment pre- and post-modification is generally the same.

 
 
12 months ended
December 31, 2012
(In thousands)
 
Number of Contracts
 
Accruing
 
Nonaccrual
 
Recorded Investment
Commercial, financial and agricultural
 
44

 
$
2,843

 
$
1,499

 
$
4,342

Commercial real estate
 
25

 
2,648

 
3,611

 
6,259

Construction real estate:
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
12

 
—

 
1,301

 
1,301

Remaining commercial
 
15

 
531

 
6,579

 
7,110

Mortgage
 
2

 
99

 
85

 
184

Installment
 
6

 
175

 
78

 
253

Residential real estate:
 
 
 
 
 
 
 
 
Commercial
 
18

 
1,139

 
1,842

 
2,981

Mortgage
 
129

 
4,279

 
5,776

 
10,055

HELOC
 
46

 
736

 
58

 
794

Installment
 
57

 
761

 
508

 
1,269

Consumer
 
600

 
1,899

 
670

 
2,569

Total loans
 
954

 
$
15,110

 
$
22,007

 
$
37,117


During 2012, as a result of general guidance issued by the Office of the Comptroller of the Currency ("OCC"), $12.5 million of consumer loans (includes mortgage, HELOC and installment loans in the residential real estate segment and those loans in the consumer loan segment) were identified as troubled debt restructurings ("TDR") whereby the borrower's obligation to PNB has been discharged in bankruptcy and the borrower has not reaffirmed the debt. These newly identified TDRs are included in the current year modified loan totals above, within the residential real estate and consumer segments, although certain of these modifications occurred prior to January 1, 2012.

 
 
12 months ended
December 31, 2011
(In thousands)
 
Number of Contracts
 
Accruing
 
Nonaccrual
 
Recorded Investment
Commercial, financial and agricultural
 
56

 
$
2,842

 
$
21,258

 
$
24,100

Commercial real estate
 
23

 
3,332

 
3,831

 
7,163

Construction real estate:
 
 
 
 
 
 
 
 
Vision commercial land and development
 
12

 
—

 
4,268

 
4,268

Remaining commercial
 
24

 
11,890

 
6,712

 
18,602

Mortgage
 
1

 
—

 
66

 
66

Installment
 
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
 
Commercial
 
30

 
500

 
29,095

 
29,595

Mortgage
 
37

 
3,234

 
2,691

 
5,925

HELOC
 
2

 


 
56

 
56

Installment
 
7

 
95

 
126

 
221

Consumer
 
1

 
—

 
18

 
18

Total loans
 
193

 
$
21,893

 
$
68,121

 
$
90,014
Schedule recorded investment in financing receivables which were modified as troubled debt restructurings within the previous 12 months and for which there was a payment default during the 12 month
The following table presents the recorded investment in financing receivables which were modified as troubled debt restructurings within the previous 12 months and for which there was a payment default during the 12 month period ended December 31, 2012 and December 31, 2011. For this table, a loan is considered to be in default when it becomes 30 days contractually past due under modified terms. The additional allowance for loan loss resulting from the defaults on TDR loans was immaterial.
 
 
 
12 months ended
December 31, 2012
 
12 months ended
December 31, 2011
(In thousands)
 
Number of Contracts
 
Recorded Investment
 
Number of Contracts
 
Recorded Investment
Commercial, financial and agricultural
 
8

 
$
244

 
19

 
$
3,878

Commercial real estate
 
10

 
2,113

 
5

 
2,353

Construction real estate:
 
 
 
 
 
 
 
 
SEPH/Vision commercial land and development
 
7

 
970

 
5

 
3,406

Remaining commercial
 
4

 
1,476

 
4

 
1,277

Mortgage
 
1

 
85

 
1

 
66

Installment
 
1

 
27

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
 
Commercial
 
1

 
16

 
10

 
20,195

Mortgage
 
39

 
2,863

 
7

 
1,193

HELOC
 
5

 
70

 
1

 
50

Installment
 
9

 
272

 
2

 
44

Consumer
 
123

 
743

 
—

 
—

Leases
 
—

 
—

 
—

 
—

Total loans
 
208

 
$
8,879

 
$
54

 
$
32,462