Purchase Credit Impaired ("PCI") Loans (Tables)

9 Months Ended

Sep. 30, 2015

Rollforward of PCI Loans, Net of Allowance for Loan Losses

The following table is a rollforward of PCI loans, net of the allowance for loan losses, for the nine months ended September 30, 2015 and 2014.



(in thousands)	Contractual Cashflows			Non-accretable Difference			Accretable Yield			Carrying Amount
Balance December 31, 2014	$	178,145		$	65,719		$	28,733		$	83,693
Principal reductions and interest payments	(19,315		)	—			—			(19,315		)
Accretion of loan discount	—			—			(8,604		)	8,604
Changes in contractual and expected cash flows due to remeasurement	(5,731		)	(26,797		)	9,233			11,833
Reductions due to disposals	(19,734		)	(4,183		)	(3,133		)	(12,418		)
Balance September 30, 2015	$	133,365		$	34,739		$	26,229		$	72,397

Balance December 31, 2013	$	266,068		$	87,438		$	53,530		$	125,100
Principal reductions and interest payments	(25,261		)	—			—			(25,261		)
Accretion of loan discount	—			—			(12,323		)	12,323
Changes in contractual and expected cash flows due to remeasurement	(2,616		)	(7,378		)	(500		)	5,262
Reductions due to disposals	(30,334		)	(7,379		)	(3,849		)	(19,106		)
Balance September 30, 2014	$	207,857		$	72,681		$	36,858		$	98,318

Covered Loans

Covered Loans [Line Items]

Summary of PCI Loans by Category

Below is a summary of PCI loans by category at September 30, 2015 and December 31, 2014:



	September 30, 2015			December 31, 2014
(in thousands)	Weighted- Average Risk Rating	Recorded Investment PCI Loans		Weighted- Average Risk Rating	Recorded Investment PCI Loans
Commercial and industrial	6.72	$	3,467	6.57	$	4,012
Real estate loans:
Commercial - investor owned	7.11	32,534		7.07	39,066
Commercial - owner occupied	6.35	20,008		6.35	22,695
Construction and land development	6.31	7,068		6.16	7,740
Residential	5.44	20,404		5.54	25,121
Total real estate loans		80,014			94,622
Consumer and other	6.13	255		5.39	469
Purchase credit impaired loans		$	83,736		$	99,103

Summary of Aging of Recorded Investment in Past Due PCI Loans by Portfolio Class and Category

The aging of the recorded investment in past due PCI loans by portfolio class and category at September 30, 2015 and December 31, 2014 is shown below:



	September 30, 2015
(in thousands)	30-89 Days Past Due		90 or More Days Past Due		Total Past Due		Current		Total
Commercial and industrial	$	—	$	—	$	—	$	3,467	$	3,467
Real estate loans:
Commercial - investor owned	4,358		3,441		7,799		24,735		32,534
Commercial - owner occupied	—		543		543		19,465		20,008
Construction and land development	—		1,975		1,975		5,093		7,068
Residential	89		53		142		20,262		20,404
Consumer and other	—		—		—		255		255
Total	$	4,447	$	6,012	$	10,459	$	73,277	$	83,736



	December 31, 2014
(in thousands)	30-89 Days Past Due		90 or More Days Past Due		Total Past Due		Current		Total
Commercial and industrial	$	—	$	16	$	16	$	3,996	$	4,012
Real estate loans:
Commercial - investor owned	878		6,484		7,362		31,704		39,066
Commercial - owner occupied	—		2,759		2,759		19,936		22,695
Construction and land development	774		—		774		6,966		7,740
Residential	2,020		1,451		3,471		21,650		25,121
Consumer and other	—		12		12		457		469
Total	$	3,672	$	10,722	$	14,394	$	84,709	$	99,103

Summary of FDIC Loss Share Receivable

A summary of activity in the FDIC loss share receivable for the nine months ended September 30, 2015 is as follows:



(in thousands)
Balance December 31, 2014	$	15,866
Adjustments not reflected in income:
Cash received from the FDIC for covered assets	(1,725		)
FDIC reimbursable losses, net	(1,072		)
Adjustments reflected in income:
Amortization, net	(484		)
Loan impairment	(2,611		)
Reductions for payments on covered assets in excess of expected cash flows	(1,355		)
Balance September 30, 2015	$	8,619