ASSETS ACQUIRED IN FDIC-ASSISTED ACQUISITIONS (Tables)

9 Months Ended

Sep. 30, 2016

From October 2009 through July 2012, the Company participated in ten FDIC-assisted acquisitions whereby the Company purchased certain failed institutions out of the FDIC’s receivership. These institutions include the following:

Bank Acquired	Location	Branches	Date Acquired
American United Bank (“AUB”)	Lawrenceville, Ga.	1	October 23, 2009
United Security Bank (“USB”)	Sparta, Ga.	2	November 6, 2009
Satilla Community Bank (“SCB”)	St. Marys, Ga.	1	May 14, 2010
First Bank of Jacksonville (“FBJ”)	Jacksonville, Fl.	2	October 22, 2010
Tifton Banking Company (“TBC”)	Tifton, Ga.	1	November 12, 2010
Darby Bank & Trust (“DBT”)	Vidalia, Ga.	7	November 12, 2010
High Trust Bank (“HTB”)	Stockbridge, Ga.	2	July 15, 2011
One Georgia Bank (“OGB”)	Midtown Atlanta, Ga.	1	July 15, 2011
Central Bank of Georgia (“CBG”)	Ellaville, Ga.	5	February 24, 2012
Montgomery Bank & Trust (“MBT”)	Ailey, Ga.	2	July 6, 2012

Components of Covered Assets

The following table summarizes components of all covered assets at September 30, 2016, December 31, 2015 and September 30, 2015 and their origin (dollars in thousands):

	Covered loans		Less: Fair value adjustments		Total covered loans		OREO		Less: Fair value adjustments		Total covered OREO		Total covered assets		FDIC loss-share receivable (payable)
As of September 30, 2016:

AUB	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	12

USB		3,309		13		3,296		30		-		30		3,326		(1,682)

SCB		4,475		61		4,414		-		-		-		4,414		89

FBJ		3,811		488		3,323		-		-		-		3,323		(164)

DBT		12,964		690		12,274		-		-		-		12,274		(4,898)

TBC		1,867		7		1,860		-		-		-		1,860		(2,727)

HTB		1,926		35		1,891		-		-		-		1,891		1,538

OGB		1,086		32		1,054		-		-		-		1,054		(776)

CBG		36,468		2,289		34,179		974		4		970		35,149		833

Total	$	65,906	$	3,615	$	62,291	$	1,004	$	4	$	1,000	$	63,291	$	(7,775)

	Covered loans		Less: Fair value adjustments		Total covered loans		OREO		Less: Fair value adjustments		Total covered OREO		Total covered assets		FDIC loss-share receivable (payable)
As of December 31, 2015:

AUB	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	111

USB		3,639		16		3,623		165		-		165		3,788		(1,424)

SCB		5,228		124		5,104		-		-		-		5,104		149

FBJ		4,782		562		4,220		41		-		41		4,261		252

DBT		15,934		1,131		14,803		-		-		-		14,803		(1,084)

TBC		2,159		11		2,148		-		-		-		2,148		1,446

HTB		44,405		3,881		40,524		2,433		643		1,790		42,314		3,875

OGB		27,561		1,900		25,661		160		-		160		25,821		913

CBG		44,865		3,419		41,446		3,139		284		2,855		44,301		2,063

Total	$	148,573	$	11,044	$	137,529	$	5,938	$	927	$	5,011	$	142,540	$	6,301

	Covered loans		Less: Fair value adjustments		Total covered loans		OREO		Less: Fair value adjustments		Total covered OREO		Total covered assets		FDIC loss-share receivable (payable)
As of September 30, 2015:

AUB	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	115

USB		3,686		17		3,669		165		-		165		3,834		(1,453)

SCB		5,269		174		5,095		-		-		-		5,095		280

FBJ		13,826		991		12,835		984		171		813		13,648		679

DBT		44,112		3,107		41,005		5,044		624		4,420		45,425		(1,737)

TBC		16,813		481		16,332		1,480		116		1,364		17,696		(2,225)

HTB		45,345		3,999		41,346		2,985		955		2,030		43,376		4,108

OGB		28,309		1,971		26,338		320		39		281		26,619		1,517

CBG		48,397		3,996		44,401		3,474		344		3,130		47,531		3,222

Total	$	205,757	$	14,736	$	191,021	$	14,452	$	2,249	$	12,203	$	203,224	$	4,506

Rollforward of Acquired Covered Loans

A rollforward of acquired covered loans for the nine months ended September 30, 2016, the year ended December 31, 2015 and the nine months ended September 30, 2015 is shown below:

(Dollars in Thousands)	September 30, 2016		December 31, 2015		September 30, 2015
Balance, January 1	$	137,529	$	271,279	$	271,279
Charge-offs, net of recoveries		(2,218)		(5,558)		(5,062)
Accretion		2,855		9,658		8,105
Transfer to covered other real estate owned		(2,391)		(7,910)		(6,909)
Transfer to purchased, non-covered loans due to loss-share expiration		(45,908)		(50,568)		(15,462)
Payments received		(27,576)		(79,372)		(60,930)
Ending balance	$	62,291	$	137,529	$	191,021

Schedule Of Changes In Accretable Discounts Of Acquired Loans

The following is a summary of changes in the accretable discounts of acquired loans during the nine months ended September 30, 2016, the year ended December 31, 2015 and the nine months ended September 30, 2015:

(Dollars in Thousands)	September 30, 2016		December 31, 2015		September 30, 2015
Balance, January 1	$	9,063	$	15,578	$	15,578
Accretion		(2,855)		(9,658)		(8,105)
Transfer to purchased, non-covered loans due to loss-share expiration		(3,457)		(1,665)		(84)
Transfers between non-accretable and accretable discounts, net		281		4,808		3,312
Ending balance	$	3,032	$	9,063	$	10,701

Changes in FDIC Shared-Loss Receivable

Changes in the FDIC shared-loss receivable (payable) for the nine months ended September 30, 2016, for the year ended December 31, 2015 and for the nine months ended September 30, 2015 are as follows:

(Dollars in Thousands)	September 30, 2016		December 31, 2015		September 30, 2015
Beginning balance, January 1	$	6,301	$	31,351	$	31,351
Payments received from FDIC		(4,770)		(19,273)		(19,089)
Accretion, net		(3,351)		(8,878)		(7,914)
Changes in clawback liability		(682)		(2,008)		(1,483)
Increase in receivable due to:
Net charge-offs on covered loans		(4,118)		416		1,180
Write downs of covered other real estate owned		203		4,752		2,349
Reimbursable expenses on covered assets		604		2,582		2,312
Other activity, net		(1,962)		(2,641)		(4,200)
Ending balance	$	(7,775)	$	6,301	$	4,506