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ASSETS ACQUIRED IN FDIC-ASSISTED ACQUISITIONS (Tables)
 6 Months Ended
Jun. 30, 2017
Banking and Thrift [Abstract]  
Schedule of Acquisition Details
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 June 30, 2017 and December 31, 2016 and their origin:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FDIC Loss-
 
 
 
 
 
Less: Fair
 
Total
 
 
 
Less: Fair
 
Total
 
Total
 
Share
 
 
 
Covered
 
Value
 
Covered
 
 
 
Value
 
Covered
 
Covered
 
Receivable
 
(dollars in thousands)
 
Loans
 
Adjustments
 
Loans
 
OREO
 
Adjustments
 
OREO
 
Assets
 
(Payable)
 
June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AUB
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
USB
 
 
2,933
 
 
12
 
 
2,921
 
 
-
 
 
-
 
 
-
 
 
2,921
 
 
(1,726)
 
SCB
 
 
3,230
 
 
30
 
 
3,200
 
 
-
 
 
-
 
 
-
 
 
3,200
 
 
69
 
FBJ
 
 
3,682
 
 
414
 
 
3,268
 
 
-
 
 
-
 
 
-
 
 
3,268
 
 
(302)
 
DBT
 
 
10,360
 
 
406
 
 
9,954
 
 
-
 
 
-
 
 
-
 
 
9,954
 
 
(4,299)
 
TBC
 
 
1,708
 
 
-
 
 
1,708
 
 
-
 
 
-
 
 
-
 
 
1,708
 
 
(50)
 
HTB
 
 
1,885
 
 
28
 
 
1,857
 
 
-
 
 
-
 
 
-
 
 
1,857
 
 
(59)
 
OGB
 
 
939
 
 
31
 
 
908
 
 
-
 
 
-
 
 
-
 
 
908
 
 
(1,103)
 
CBG
 
 
10,654
 
 
773
 
 
9,881
 
 
215
 
 
-
 
 
215
 
 
10,096
 
 
(522)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
35,391
 
$
1,694
 
$
33,697
 
$
215
 
$
-
 
$
215
 
$
33,912
 
$
(7,992)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AUB
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
(27)
 
USB
 
 
3,199
 
 
13
 
 
3,186
 
 
51
 
 
-
 
 
51
 
 
3,237
 
 
(1,642)
 
SCB
 
 
4,019
 
 
51
 
 
3,968
 
 
-
 
 
-
 
 
-
 
 
3,968
 
 
(32)
 
FBJ
 
 
3,767
 
 
452
 
 
3,315
 
 
-
 
 
-
 
 
-
 
 
3,315
 
 
(234)
 
DBT
 
 
12,166
 
 
565
 
 
11,601
 
 
-
 
 
-
 
 
-
 
 
11,601
 
 
(4,591)
 
TBC
 
 
1,679
 
 
-
 
 
1,679
 
 
-
 
 
-
 
 
-
 
 
1,679
 
 
(33)
 
HTB
 
 
1,913
 
 
33
 
 
1,880
 
 
-
 
 
-
 
 
-
 
 
1,880
 
 
734
 
OGB
 
 
1,077
 
 
32
 
 
1,045
 
 
-
 
 
-
 
 
-
 
 
1,045
 
 
(993)
 
CBG
 
 
33,449
 
 
1,963
 
 
31,486
 
 
1,161
 
 
4
 
 
1,157
 
 
32,643
 
 
505
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
61,269
 
$
3,109
 
$
58,160
 
$
1,212
 
$
4
 
$
1,208
 
$
59,368
 
$
(6,313)
 
Changes in FDIC Shared-Loss Receivable
Changes in the FDIC shared-loss payable for the six months ended June 30, 2017 and 2016 are as follows:
 
 
 
June 30,
 
June 30,
 
(dollars in thousands)
 
2017
 
2016
 
Beginning balance, January 1
 
$
(6,313)
 
$
6,301
 
Payments received from FDIC
 
 
(230)
 
 
(4,165)
 
Amortization
 
 
(595)
 
 
(2,737)
 
Changes in clawback liability
 
 
(398)
 
 
(345)
 
Increase in receivable due to:
 
 
 
 
 
 
 
Net recoveries on covered loans
 
 
(648)
 
 
(929)
 
Loss (gain) on covered other real estate owned
 
 
(40)
 
 
774
 
Reimbursable expenses on covered assets
 
 
242
 
 
429
 
Other activity, net
 
 
(10)
 
 
(1,225)
 
 
 
 
 
 
 
 
 
Ending balance
 
$
(7,992)
 
$
(1,897)