Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Accounts Notes Loans and Financial Receivables

Balances within the major loans receivable categories are presented in the following table:

	December 31,
	2014		2013
	(Dollars in Thousands)
Commercial, financial & agricultural	$	319,654	$	244,373
Real estate – construction & development		161,507		146,371
Real estate – commercial & farmland		907,524		808,323
Real estate – residential		456,106		351,886
Consumer installment		30,782		34,249
Other		14,308		33,252
		1,889,881		1,618,454
Allowance for loan losses		21,157		22,377
Loans, net	$	1,868,724	$	1,596,077

Summary of Carrying Value of Covered Loans According to Loan Type

The carrying value of covered loans are shown below according to loan type as of the end of the years shown:

	2014		2013
	(Dollars in Thousands)
Commercial, financial & agricultural	$	21,467	$	26,550
Real estate – construction & development		23,447		43,179
Real estate – commercial & farmland		147,627		224,451
Real estate – residential		78,520		95,173
Consumer installment loans		218		884
	$	271,279	$	390,237

Summary of Changes in Related Party Loans

Changes in related party loans are summarized as follows:

	December 31,
	2014			2013
	(Dollars in Thousands)
Balance, beginning of year	$	5,565		$	1,392
Advances		78			813
Repayments		(1,240	)		(923	)
Transactions due to changes in related parties		-			4,283
Balance, end of year	$	4,403		$	5,565

Schedule of Allowances for Loan Losses by Portfolio Segment

The following table details activity in the allowance for loan losses by portfolio segment for the periods indicated. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

	Commercial, financial & agricultural		Real estate – construction & development		Real estate – commercial & farmland		Real estate - residential		Consumer installment loans and Other		Purchased non-covered loans		Covered loans		Total
	(Dollars in Thousands)
Twelve months ended December 31, 2014:
Balance, January 1, 2014	$	1,823	$	5,538	$	8,393	$	6,034	$	589	$	-	$	-	$	22,377
Provision for loan losses		1,427		(265)		3,444		(452)		567		84		843		5,648
Loans charged off		(1,567)		(592)		(3,288)		(1,707)		(471)		(84)		(1,851)		(9,560)
Recoveries of loans previously charged off		321		349		274		254		486		-		1,008		2,692
Balance, December 31, 2014	$	2,004	$	5,030	$	8,823	$	4,129	$	1,171	$	-	$	-	$	21,157
Period-end amount allocated to:
Loans individually evaluated for impairment	$	375	$	743	$	1,861	$	911	$	-	$	-	$	-	$	3,890
Loans collectively evaluated for impairment		1,629		4,287		6,962		3,218		1,171		-		-		17,267
Ending balance	$	2,004	$	5,030	$	8,823	$	4,129	$	1,171	$	-	$	-	$	21,157
Loans:
Individually evaluated for impairment	$	490	$	3,709	$	14,546	$	8,904	$	-	$	-	$	-	$	27,649
Collectively evaluated for impairment		319,164		157,798		892,978		447,202		45,090		579,172		122,248		2,563,652
Acquired with deteriorated credit quality		-		-		-		-		-		95,067		149,031		244,098
Ending balance	$	319,654	$	161,507	$	907,524	$	456,106	$	45,090	$	674,239	$	271,279	$	2,835,399
	Commercial, financial & agricultural		Real estate – construction & development		Real estate – commercial & farmland		Real estate - residential		Consumer installment loans and Other		Purchased non-covered loans		Covered loans		Total
	(Dollars in Thousands)
Twelve months ended December 31, 2013:
Balance, January 1, 2013	$	2,439	$	5,343	$	9,157	$	5,898	$	756	$	-	$	-	$	23,593
Provision for loan losses		711		1,742		2,777		4,463		254		-		1,539		11,486
Loans charged off		(1,759)		(2,020)		(3,571)		(5,215)		(719)		-		(1,539)		(14,823)
Recoveries of loans previously charged off		432		473		30		888		298		-		-		2,121
Balance, December 31, 2013	$	1,823	$	5,538	$	8,393	$	6,034	$	589	$	-	$	-	$	22,377
Period-end amount allocated to:
Loans individually evaluated for impairment	$	356	$	407	$	1,427	$	1,395	$	-	$	-	$	-	$	3,585
Loans collectively evaluated for impairment		1,467		5,131		6,966		4,639		589		-		-		18,792
Ending balance	$	1,823	$	5,538	$	8,393	$	6,034	$	589	$	-	$	-	$	22,377
Loans:
Individually evaluated for impairment	$	3,457	$	3,581	$	15,240	$	16,925	$	-	$	-	$	-	$	39,203
Collectively evaluated for impairment		240,916		142,790		793,083		349,957		52,505		381,588		173,190		2,134,029
Acquired with deteriorated credit quality		-		-		-		-		-		67,165		217,047		284,212
Ending balance	$	244,373	$	146,371	$	808,323	$	366,882	$	52,505	$	448,753	$	390,237	$	2,457,444

	Commercial, financial & agricultural		Real estate – construction & development		Real estate – commercial & farmland		Real estate - residential		Consumer installment loans and Other		Purchased non-covered loans		Covered loans		Total
	(Dollars in Thousands)
Twelve months ended December 31, 2012:
Balance, January 1, 2012	$	2,918	$	9,438	$	14,226	$	8,128	$	446	$	-	$	-	$	35,156
Provision for loan losses		815		5,245		15,000		6,267		1,124		-		2,638		31,089
Loans charged off		(1,451)		(9,380)		(20,551)		(8,722)		(1,059)		-		(2,638)		(43,801)
Recoveries of loans previously charged off		157		40		482		225		245		-		-		1,149
Balance, December 31, 2012	$	2,439	$	5,343	$	9,157	$	5,898	$	756	$	-	$	-	$	23,593
Period-end amount allocated to:
Loans individually evaluated for impairment	$	659	$	611	$	2,228	$	1,056	$	-	$	-	$	-	$	4,554
Loans collectively evaluated for impairment		1,780		4,732		6,929		4,842		756		-		-		19,039
Ending balance	$	2,439	$	5,343	$	9,157	$	5,898	$	756	$	-	$	-	$	23,593
Loans:
Individually evaluated for impairment	$	3,351	$	7,617	$	21,332	$	13,020	$	-	$	-	$	-	$	45,320
Collectively evaluated for impairment		170,866		106,582		710,990		333,460		83,417		-		224,975		1,630,290
Acquired with deteriorated credit quality		-		-		-		-		-		-		282,737		282,737
Ending balance	$	174,217	$	114,199	$	732,322	$	346,480	$	83,417	$	-	$	507,712	$	1,958,347

Purchased Non-Covered Loans [Member]

Summary of Carrying Value of Purchased Non-Covered Loans According to Loan Type

The carrying value of purchased non-covered loans are shown below according to loan type as of the end of the years shown:

	2014		2013
	(Dollars in Thousands)
Commercial, financial & agricultural	$	38,041	$	32,141
Real estate – construction & development		58,362		31,176
Real estate – commercial & farmland		306,706		179,898
Real estate – residential		266,342		200,851
Consumer installment loans		4,788		4,687
	$	674,239	$	448,753

Summary of Financial Receivable Nonaccrual Basis

The following table presents an analysis of purchased non-covered loans accounted for on a nonaccrual basis:

	2014		2013
	(Dollars in Thousands)
Commercial, financial & agricultural	$	175	$	11
Real estate – construction & development		1,119		325
Real estate – commercial & farmland		10,242		1,653
Real estate – residential		6,644		4,658
Consumer installment loans		69		12
	$	18,249	$	6,659

Summary of Past Due Financial Receivables

The following table presents an analysis of purchased non-covered past due loans as of December 31, 2014 and 2013.

	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
	(Dollars in Thousands)
As of December 30, 2014:
Commercial, financial & agricultural	$	461	$	90	$	175	$	726	$	37,315	$	38,041	$	-
Real estate – construction & development		790		1,735		1,117		3,642		54,720		58,362		-
Real estate – commercial & farmland		2,107		1,194		9,529		12,830		293,876		306,706		-
Real estate – residential		6,907		1,401		6,369		14,677		251,665		266,342		-
Consumer installment loans		82		-		65		147		4,641		4,788		-
Total	$	10,347	$	4,420	$	17,255	$	32,022	$	642,217	$	674,239	$	-
	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
	(Dollars in Thousands)
As of December 30, 2013:
Commercial, financial & agricultural	$	370	$	70	$	11	$	451	$	31,690	$	32,141	$	-
Real estate – construction & development		1,008		89		325		1,422		29,754		31,176		-
Real estate – commercial & farmland		6,851		2,064		1,516		10,431		169,467		179,898		-
Real estate – residential		4,667		1,074		3,428		9,169		191,682		200,851		-
Consumer installment loans		7		17		9		33		4,654		4,687		-
Total	$	12,903	$	3,314	$	5,289	$	21,506	$	427,247	$	448,753	$	-

Summary of Impaired Financial Receivables

The following is a summary of information pertaining to purchased non-covered impaired loans:

	As of and For the Years Ended December 31,
	2014		2013		2012
	(Dollars in Thousands)
Nonaccrual loans	$	18,249	$	6,659	$	-
Troubled debt restructurings not included above		1,212		5,938		-
Total impaired loans	$	19,461	$	12,597	$	-
Interest income recognized on impaired loans	$	109	$	-	$	-
Foregone interest income on impaired loans	$	237	$	-	$	-

The following table presents an analysis of information pertaining to purchased non-covered impaired loans as of December 31, 2014 and 2013.

	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
	(Dollars in Thousands)
As of December 31, 2014:
Commercial, financial & agricultural	$	499	$	175	$	-	$	175	$	-	$	165
Real estate – construction & development		2,210		1,436		-		1,436		-		1,643
Real estate – commercial & farmland		13,520		10,588		-		10,588		-		7,484
Real estate – residential		10,487		7,191		-		7,191		-		7,084
Consumer installment loans		169		71		-		71		-		68
Total	$	26,885	$	19,461	$	-	$	19,461	$	-	$	16,444
	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
	(Dollars in Thousands)
As of December 31, 2013:
Commercial, financial & agricultural	$	19	$	11	$	-	$	11	$	-	$	-
Real estate – construction & development		5,719		3,690		-		3,690		-		71
Real estate – commercial & farmland		4,563		2,881		-		2,881		-		55
Real estate – residential		9,612		5,978		-		5,978		-		115
Consumer installment loans		57		37		-		37		-		1
Total	$	19,970	$	12,597	$	-	$	12,597	$	-	$	242

Summary of Credit Quality Indicate Financial Receivable

The following table presents the covered loan portfolio by risk grade as of December 31, 2014 and 2013.

As of December 31, 2014:

Risk Grade	Commercial, financial & agricultural		Real estate - construction & development		Real estate - commercial & farmland		Real estate - residential		Consumer installment loans		Other		Total
	(Dollars in Thousands)
10	$	-	$	-	$	-	$	-	$	-	$	-	$
15		-		1		761		525		-		-		1,287
20		917		3,184		23,167		14,089		77		-		41,434
23		164		537		11,404		6,642		-		-		18,747
25		5,181		9,406		80,334		33,124		37		-		128,082
30		4,808		2,753		5,302		8,050		-		-		20,913
40		10,397		7,566		26,659		16,090		104		-		60,816
50		-		-		-		-		-		-		-
60		-		-		-		-		-		-		-
Total	$	21,467	$	23,447	$	147,627	$	78,520	$	218	$	-	$	271,279

As of December 31, 2013:

Risk Grade	Commercial, financial & agricultural		Real estate - construction & development		Real estate - commercial & farmland		Real estate - residential		Consumer installment loans		Other		Total
	(Dollars in Thousands)
10	$	-	$	-	$	-	$	-	$	-	$	-	$	-
15		-		16		1,048		638		-		-		1,702
20		2,184		8,549		34,674		21,363		193		-		66,963
23		134		1,085		17,037		4,748		51		-		23,055
25		7,508		9,611		101,657		38,427		235		-		157,438
30		5,125		2,006		21,297		6,979		17		-		35,424
40		11,599		21,912		48,738		23,018		388		-		105,655
50		-		-		-		-		-		-		-
60		-		-		-		-		-		-		-
Total	$	26,550	$	43,179	$	224,451	$	95,173	$	884	$	-	$	390,237

Summary of Troubled Debt Restructurings by Loan Class

The following table presents the amount of troubled debt restructurings by loan class of purchased non-covered loans, classified separately as accrual and non-accrual at December 31, 2014.

As of December 31, 2014	Accruing Loans			Non-Accruing Loans
Loan class:	#	Balance (in thousands)		#	Balance (in thousands)
Commercial, financial & agricultural	-	$	-	-	$	-
Real estate – construction & development	1		317	-		-
Real estate – commercial & farmland	1		346	-		-
Real estate – residential	6		547	1		25
Consumer installment	1		2	-		-
Total	9	$	1,212	1	$	25

Excluding Purchased Non-Covered and Covered Loans [Member]

Summary of Financial Receivable Nonaccrual Basis

The following table presents an analysis of loans accounted for on a nonaccrual basis, excluding purchased non-covered and covered loans:

	2014		2013
	(Dollars in Thousands)
Commercial, financial & agricultural	$	1,672	$	4,103
Real estate – construction & development		3,774		3,971
Real estate – commercial & farmland		8,141		8,566
Real estate – residential		7,663		12,152
Consumer installment loans		478		411
	$	21,728	$	29,203

Summary of Past Due Financial Receivables

The following table presents an analysis of loans, excluding purchased non-covered and covered past due loans as of December 31, 2014 and 2013.

	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
	(Dollars in Thousands)
As of December 31, 2014:
Commercial, financial & agricultural	$	900	$	233	$	1,577	$	2,710	$	316,944	$	319,654	$	-
Real estate – construction & development		1,382		286		3,367		5,035		156,472		161,507		-
Real estate – commercial & farmland		2,859		635		7,668		11,162		896,362		907,524		-
Real estate – residential		3,953		2,334		6,755		13,042		443,064		456,106		-
Consumer installment loans		634		158		366		1,158		29,624		30,782		1
Other		-		-		-		-		14,308		14,308		-
Total	$	9,728	$	3,646	$	19,733	$	33,107	$	1,856,774	$	1,889,881	$	1

	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
	(Dollars in Thousands)
As of December 31, 2013:
Commercial, financial & agricultural	$	10,893	$	272	$	4,081	$	15,246	$	229,127	$	244,373	$	-
Real estate – construction & development		1,026		69		3,935		5,030		141,341		146,371		-
Real estate – commercial & farmland		3,981		1,388		7,751		13,120		795,203		808,323		-
Real estate – residential		5,422		1,735		11,587		18,744		333,142		351,886		-
Consumer installment loans		568		197		305		1,070		33,179		34,249		-
Other		-		-		-		-		33,252		33,252		-
Total	$	21,890	$	3,661	$	27,659	$	53,210	$	1,565,244	$	1,618,454	$	-

Summary of Impaired Financial Receivables

The following is a summary of information pertaining to impaired loans, excluding purchased non-covered and covered loans:

	As of and For the Years Ended December 31,
	2014		2013		2012
	(Dollars in Thousands)
Nonaccrual loans	$	21,728	$	29,203	$	38,885
Troubled debt restructurings not included above		12,759		17,214		18,744
Total impaired loans	$	34,487	$	46,417	$	57,629
Interest income recognized on impaired loans	$	1,170	$	522	$	495
Foregone interest income on impaired loans	$	155	$	418	$	718

The following table presents an analysis of information pertaining to impaired loans, excluding purchased non-covered and covered loans as of December 31, 2014 and 2013.

	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
	(Dollars in Thousands)
As of December 31, 2014:
Commercial, financial & agricultural	$	3,387	$	6	$	1,956	$	1,962	$	395	$	3,021
Real estate – construction & development		8,325		448		4,005		4,453		771		5,368
Real estate – commercial & farmland		17,514		4,967		9,651		14,618		1,859		15,972
Real estate – residential		15,571		3,514		9,407		12,921		974		16,317
Consumer installment loans		618		-		533		533		9		519
Total	$	45,415	$	8,935	$	25,552	$	34,487	$	4,008	$	41,197
	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
	(Dollars in Thousands)
As of December 31, 2013:
Commercial, financial & agricultural	$	6,240	$	-	$	4,618	$	4,618	$	435	$	4,844
Real estate – construction & development		11,363		-		5,867		5,867		512		8,341
Real estate – commercial & farmland		18,456		-		15,479		15,479		1,443		17,559
Real estate – residential		24,342		-		19,970		19,970		1,472		20,335
Consumer installment loans		623		-		483		483		9		642
Total	$	61,024	$	-	$	46,417	$	46,417	$	3,871	$	51,721

Summary of Credit Quality Indicate Financial Receivable

The following table presents the loan portfolio, excluding purchased non-covered and covered loans, by risk grade as of December 31, 2014 and 2013.

As of December 31, 2014:

Risk Grade	Commercial, financial & agricultural		Real estate - construction & development		Real estate - commercial & farmland		Real estate - residential		Consumer installment loans		Other		Total
	(Dollars in Thousands)
10	$	121,355	$	268	$	155	$	226	$	6,573	$	-	$	128,577
15		25,318		4,010		128,170		59,301		1,005		-		217,804
20		100,599		47,541		511,198		256,758		17,544		14,308		947,948
23		56		8,933		10,507		9,672		37		-		29,205
25		62,519		93,514		224,464		102,998		4,692		-		488,187
30		3,758		1,474		13,035		7,459		257		-		25,983
40		6,049		5,767		19,995		19,692		673		-		52,176
50		-		-		-		-		1		-		1
60		-		-		-		-		-		-		-
Total	$	319,654	$	161,507	$	907,524	$	456,106	$	30,782	$	14,308	$	1,889,881

As of December 31, 2013:

Risk Grade	Commercial, financial & agricultural		Real estate - construction & development		Real estate - commercial & farmland		Real estate - residential		Consumer installment loans		Other		Total
	(Dollars in Thousands)
10	$	66,983	$	-	$	265	$	419	$	6,714	$	-	$	74,381
15		24,789		4,655		147,157		52,335		1,276		-		230,212
20		93,852		45,195		431,790		150,343		18,619		33,252		773,051
23		127		8,343		10,219		12,641		274		-		31,604
25		50,373		78,736		181,645		103,427		6,310		-		420,491
30		2,111		2,876		11,849		13,558		197		-		30,591
40		6,011		6,566		25,398		19,153		859		-		57,987
50		127		-		-		10		-		-		137
60		-		-		-		-		-		-		-
Total	$	244,373	$	146,371	$	808,323	$	351,886	$	34,249	$	33,252	$	1,618,454

Summary of Troubled Debt Restructurings by Loan Class

The following table presents the amount of troubled debt restructurings by loan class, excluding purchased non-covered and covered loans, classified separately as accrual and non-accrual at December 31, 2014 and 2013.

As of December 31, 2014	Accruing Loans			Non-Accruing Loans
Loan class:	#	Balance (in thousands)		#	Balance (in thousands)
Commercial, financial & agricultural	6	$	290	2	$	13
Real estate – construction & development	9		679	5		228
Real estate – commercial & farmland	19		6,477	3		724
Real estate – residential	47		5,258	11		1,485
Consumer installment	11		55	11		73
Total	92	$	12,759	32	$	2,523
As of December 31, 2013	Accruing Loans			Non-Accruing Loans
Loan class:	#	Balance (in thousands)		#	Balance (in thousands)
Commercial, financial & agricultural	4	$	515	3	$	525
Real estate – construction & development	8		1,896	2		32
Real estate – commercial & farmland	17		6,913	4		2,273
Real estate – residential	37		7,818	8		834
Consumer installment	6		72	3		19
Total	72	$	17,214	20	$	3,683

Summary of Troubled Debt Restructuring by Loan Class, Classified Separately under Restructured Terms

The following table presents the amount of troubled debt restructurings by loan class of covered loans, classified separately as accrual and non-accrual at December 31, 2014 and 2013.

As of December 31, 2014	Accruing Loans			Non-Accruing Loans
Loan class:	#	Balance (in thousands)		#	Balance (in thousands)
Commercial, financial & agricultural	2	$	40	2	$	-
Real estate – construction & development	4		3,037	2		29
Real estate – commercial & farmland	14		8,079	5		1,082
Real estate – residential	96		11,460	8		831
Consumer installment	1		3	-		-
Total	117	$	22,619	17	$	1,942
As of December 31, 2013	Accruing Loans			Non-Accruing Loans
Loan class:	#	Balance (in thousands)		#	Balance (in thousands)
Commercial, financial & agricultural	1	$	13	5	$	71
Real estate – construction & development	3		3,256	4		52
Real estate – commercial & farmland	13		7,255	5		3,946
Real estate – residential	83		11,719	8		942
Consumer installment	-		-	2		10
Total	100	$	22,243	24	$	5,021

Covered Loans [Member]

Summary of Financial Receivable Nonaccrual Basis

The following table presents an analysis of covered loans accounted for on a nonaccrual basis:

	2014		2013
	(Dollars in Thousands)
Commercial, financial & agricultural	$	8,541	$	7,257
Real estate – construction & development		7,601		14,781
Real estate – commercial & farmland		12,584		33,495
Real estate – residential		6,595		13,278
Consumer installment loans		91		341
	$	35,412	$	69,152

Summary of Past Due Financial Receivables

The following table presents an analysis of covered past due loans as of December 31, 2014 and 2013:

	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
	(Dollars in Thousands)
As of December 30, 2014:
Commercial, financial & agricultural	$	451	$	136	$	1,878	$	2,465	$	19,002	$	21,467	$	-
Real estate – construction & development		238		226		6,703		7,167		16,280		23,447		-
Real estate – commercial & farmland		4,371		1,486		7,711		13,568		134,059		147,627		714
Real estate – residential		3,464		962		5,656		10,082		68,438		78,520		-
Consumer installment loans		10		-		91		101		117		218		-
Total	$	8,534	$	2,810	$	22,039	$	33,383	$	237,896	$	271,279	$	714
	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
	(Dollars in Thousands)
As of December 31, 2013:
Commercial, financial & agricultural	$	3,966	$	12	$	6,165	$	10,143	$	16,407	$	26,550	$	-
Real estate – construction & development		843		144		14,055		15,042		28,137		43,179		-
Real estate – commercial & farmland		8,482		4,350		26,428		39,260		185,191		224,451		346
Real estate – residential		7,648		1,914		10,244		19,806		75,367		95,173		-
Consumer installment loans		51		14		305		370		514		884		-
Total	$	20,990	$	6,434	$	57,197	$	84,621	$	305,616	$	390,237	$	346

Summary of Impaired Financial Receivables

The following is a summary of information pertaining to covered impaired loans:

	As of and For the Years Ended December 31,
	2014		2013		2012
	(Dollars in Thousands)
Nonaccrual loans	$	35,412	$	69,152	$	115,712
Troubled debt restructurings not included above		22,619		22,243		17,090
Total impaired loans	$	58,031	$	91,395	$	132,802
Interest income recognized on impaired loans	$	1,134	$	968	$	849
Foregone interest income on impaired loans	$	109	$	330	$	491

The following table presents an analysis of information pertaining to covered impaired loans as of December 31, 2014 and 2013.

	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
	(Dollars in Thousands)
As of December 31, 2014:
Commercial, financial & agricultural	$	10,845	$	8,582	$	-	$	8,582	$	-	$	9,777
Real estate – construction & development		11,621		10,638		-		10,638		-		14,132
Real estate – commercial & farmland		23,349		20,663		-		20,663		-		28,594
Real estate – residential		19,629		18,054		-		18,054		-		21,091
Consumer installment loans		111		94		-		94		-		163
Total	$	65,555	$	58,031	$	-	$	58,031	$	-	$	73,757
	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
	(Dollars in Thousands)
As of December 31, 2013:
Commercial, financial & agricultural	$	9,680	$	7,270	$	-	$	7,270	$	-	$	8,696
Real estate – construction & development		20,915		18,037		-		18,037		-		21,794
Real estate – commercial & farmland		46,612		40,749		-		40,749		-		51,584
Real estate – residential		29,089		24,998		-		24,998		-		28,452
Consumer installment loans		394		341		-		341		-		304
Total	$	106,690	$	91,395	$	-	$	91,395	$	-	$	110,830

Summary of Credit Quality Indicate Financial Receivable

The following table presents the purchased non-covered loan portfolio by risk grade as of December 31, 2014 and 2013.

As of December 31, 2014:

Risk Grade	Commercial, financial & agricultural		Real estate - construction & development		Real estate - commercial & farmland		Real estate - residential		Consumer installment loans		Other		Total
	(Dollars in Thousands)
10	$	6,624	$	-	$	-	$	290	$	480	$	-	$	7,394
15		1,376		522		13,277		14,051		501		-		29,727
20		13,657		12,991		116,308		64,083		1,647		-		208,686
23		73		-		3,207		3,298		-		-		6,578
25		13,753		36,230		144,293		164,959		1,920		-		361,155
30		1,618		4,365		12,279		7,444		41		-		25,747
40		910		4,254		17,342		12,184		199		-		34,889
50		30		-		-		33		-		-		63
60		-		-		-		-		-		-		-
Total	$	38,041	$	58,362	$	306,706	$	266,342	$	4,788	$	-	$	674,239

As of December 31, 2013:

Risk Grade	Commercial, financial & agricultural		Real estate - construction & development		Real estate - commercial & farmland		Real estate - residential		Consumer installment loans		Other		Total
	(Dollars in Thousands)
10	$	1,865	$	-	$	-	$	289	$	451	$	-	$	2,605
15		4,606		7		12,998		16,160		703		-		34,474
20		5,172		3,960		43,802		34,576		1,383		-		88,893
23		-		-		-		-		-		-		-
25		19,638		20,733		102,260		129,923		1,888		-		274,442
30		576		1,760		9,554		10,878		194		-		22,962
40		284		4,716		11,284		9,025		68		-		25,377
50		-		-		-		-		-		-		-
60		-		-		-		-		-		-		-
Total	$	32,141	$	31,176	$	179,898	$	200,851	$	4,687	$	-	$	448,753

Financing Receivable Troubled Debt Restructuring [Member]

Summary of Troubled Debt Restructurings by Loan Class

The following table presents the loans by class modified as troubled debt restructurings that occurred during the year ending December 31, 2014 and 2013.

	December 31, 2014			December 31, 2013
Loan class:	#	Balance (in thousands)		#	Balance (in thousands)
Commercial, financial & agricultural	6	$	100	2	$	255
Real estate – construction & development	5		264	5		270
Real estate – commercial & farmland	5		1,082	4		1,084
Real estate – residential	20		1,309	18		1,548
Consumer installment	16		67	9		92
Total	52	$	2,822	38	$	3,249

Summary of Troubled Debt Restructuring by Loan Class, Defaulted under Restructured Terms

The following table presents the troubled debt restructurings by class that defaulted during the year ending December 31, 2014 and 2013.

	December 31, 2014			December 31, 2013
Loan class:	#	Balance (in thousands)		#	Balance (in thousands)
Commercial, financial & agricultural	1	$	236	3	$	525
Real estate – construction & development	1		33	1		29
Real estate – commercial & farmland	2		570	3		2,197
Real estate – residential	6		314	3		639
Consumer installment	4		61	-		-
Total	14	$	1,214	10	$	3,390