Loans Held for Investment (LHFI) and Allowance for Loan Losses, excluding Covered Loans (Tables)

9 Months Ended

Sep. 30, 2011

Loans and Allowance for Loan Losses [Abstract]

For the periods presented, LHFI, excluding covered loans, consisted of the following ($ in thousands):

	September 30, 2011		December 31, 2010
Loans secured by real estate:
Construction, land development and other land loans	$	481,821	$	583,316
Secured by 1-4 family residential properties		1,717,366		1,732,056
Secured by nonfarm, nonresidential properties		1,437,573		1,498,108
Other		207,984		231,963
Commercial and industrial loans		1,083,753		1,068,369
Consumer loans		268,002		402,165
Other loans		587,213		544,265
LHFI, excluding covered loans		5,783,712		6,060,242
Less allowance for loan losses		89,463		93,510
Net LHFI, excluding covered loans	$	5,694,249	$	5,966,732

The following table details LHFI, excluding covered loans, individually and collectively evaluated for impairment at September 30, 2011 and December 31, 2010 ($ in thousands):

	September 30, 2011
	LHFI Evaluated for Impairment
	Individually		Collectively		Total

Loans secured by real estate:
Construction, land development and other land loans	$	29,594	$	452,227	$	481,821
Secured by 1-4 family residential properties		23,558		1,693,808		1,717,366
Secured by nonfarm, nonresidential properties		25,303		1,412,270		1,437,573
Other		4,821		203,163		207,984
Commercial and industrial loans		14,204		1,069,549		1,083,753
Consumer loans		907		267,095		268,002
Other loans		1,191		586,022		587,213
Total	$	99,578	$	5,684,134	$	5,783,712

	December 31, 2010
	LHFI Evaluated for Impairment
	Individually		Collectively		Total

Loans secured by real estate:
Construction, land development and other land loans	$	57,831	$	525,485	$	583,316
Secured by 1-4 family residential properties		30,313		1,701,743		1,732,056
Secured by nonfarm, nonresidential properties		29,013		1,469,095		1,498,108
Other		6,154		225,809		231,963
Commercial and industrial loans		16,107		1,052,262		1,068,369
Consumer loans		2,112		400,053		402,165
Other loans		1,393		542,872		544,265
Total	$	142,923	$	5,917,319	$	6,060,242

Impact of Modifications Classified as Troubled Debt Restructurings

The following table illustrates the impact of modifications classified as TDRs as a whole at September 30, 2011 as well as those TDRs modified within 2011 for which there was a payment default during the year ($ in thousands):

	Nine Months Ended September 30, 2011
Troubled Debt Restructurings	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Construction, land development and other land loans		14	$	9,114	$	8,447
Secured by 1-4 family residential properties		15		5,112		3,549
Secured by nonfarm, nonresidential properties		4		4,368		4,196
Commercial and industrial		2		11,998		11,531
Total		35	$	30,592	$	27,723


	Three Months Ended September 30, 2011
Troubled Debt Restructurings	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Construction, land development and other land loans		1	$	1,843	$	1,843
Secured by 1-4 family residential properties		5		1,889		1,949
Total		6	$	3,732	$	3,792


	Nine Months Ended September 30, 2011
Troubled Debt Restructurings that Subsequently Defaulted	Number of Contracts				Recorded Investment
Construction, land development and other land loans		2			$	1,688
Secured by 1-4 family residential properties		2				1,485
Total		4			$	3,173

Troubled Debt Restructuring Related To Loans Held for Investment, Excluding Covered Loans, by Loan Type

At September 30, 2011 and December 31, 2010, the following table details LHFI, excluding covered loans, classified as TDRs by loan type ($ in thousands):

	September 30, 2011
	Accruing		Nonaccrual		Total
Construction, land development and other land loans	$	244	$	8,203	$	8,447
Secured by 1-4 family residential properties		795		2,754		3,549
Secured by nonfarm, nonresidential properties		-		4,196		4,196
Commercial and industrial		-		11,531		11,531
Total Troubled Debt Restructurings by Type	$	1,039	$	26,684	$	27,723


	December 31, 2010
	Accruing		Nonaccrual		Total
Construction, land development and other land loans	$	-	$	3,181	$	3,181
Secured by 1-4 family residential properties		318		1,488		1,806
Secured by nonfarm, nonresidential properties		-		2,232		2,232
Commercial and industrial		-		11,997		11,997
Total Troubled Debt Restructurings by Type	$	318	$	18,898	$	19,216

Impaired Financing Receivables

At September 30, 2011 and December 31, 2010, the carrying amount of impaired loans, excluding covered loans, consisted of the following ($ in thousands):

	September 30, 2011
			Total LHFI
	Unpaid		with No Related		Total LHFI		Total				Average
	Principal		Allowance		with an Allowance		Carrying		Related		Recorded
	Balance		Recorded		Recorded		Amount		Allowance		Investment

Loans secured by real estate:
Construction, land development and other land loans	$	47,736	$	9,284	$	20,310	$	29,594	$	4,165	$	43,712
Secured by 1-4 family residential properties		32,273		3,624		19,934		23,558		540		26,935
Secured by nonfarm, nonresidential properties		29,547		13,841		11,462		25,303		1,510		27,158
Other		5,625		486		4,335		4,821		1,008		5,488
Commercial and industrial loans		15,966		8,833		5,371		14,204		1,454		15,155
Consumer loans		1,184		-		907		907		10		1,510
Other loans		2,725		17		1,174		1,191		275		1,292
Total	$	135,056	$	36,085	$	63,493	$	99,578	$	8,962	$	121,250

	December 31, 2010
			Total LHFI
	Unpaid		with No Related		Total LHFI		Total				Average
	Principal		Allowance		with an Allowance		Carrying		Related		Recorded
	Balance		Recorded		Recorded		Amount		Allowance		Investment

Loans secured by real estate:
Construction, land development and other land loans	$	81,945	$	33,201	$	24,630	$	57,831	$	6,782	$	69,817
Secured by 1-4 family residential properties		41,475		3,082		27,231		30,313		1,745		30,888
Secured by nonfarm, nonresidential properties		35,679		18,582		10,431		29,013		1,580		23,535
Other		7,009		5,042		1,112		6,154		95		4,126
Commercial and industrial loans		17,413		9,172		6,935		16,107		1,514		11,369
Consumer loans		2,420		-		2,112		2,112		23		1,544
Other loans		2,868		1,107		286		1,393		58		765
Total	$	188,809	$	70,186	$	72,737	$	142,923	$	11,797	$	142,044

Carrying Amount of Loans by Credit Quality Indicator

The table below illustrates the carrying amount of loans, excluding covered loans, by credit quality indicator at September 30, 2011 and December 31, 2010 ($ in thousands):

	September 30, 2011
			Commercial Loans
			Pass -		Special Mention -		Substandard -		Doubtful -
			Categories 1-6		Category 7		Category 8		Category 9		Subtotal
Loans secured by real estate:
Construction, land development and other land loans			$	305,155	$	28,014	$	96,487	$	69	$	429,725
Secured by 1-4 family residential properties				118,644		147		16,795		-		135,586
Secured by nonfarm, nonresidential properties				1,291,830		13,123		131,656		51		1,436,660
Other				190,265		314		10,180		-		200,759
Commercial and industrial loans				999,567		24,922		55,456		1,405		1,081,350
Consumer loans				796		24		-		-		820
Other loans				572,818		5,994		2,469		553		581,834
			$	3,479,075	$	72,538	$	313,043	$	2,078	$	3,866,734

	Consumer Loans
			Past Due		Past Due Greater						Total LHFI, excluding
	Current		30-89 Days		Than 90 days		Nonaccrual		Subtotal		covered loans
Loans secured by real estate:
Construction, land development and other land loans	$	49,668	$	490	$	176	$	1,762	$	52,096	$	481,821
Secured by 1-4 family residential properties		1,551,510		11,346		1,742		17,182		1,581,780		1,717,366
Secured by nonfarm, nonresidential properties		876		37		-		-		913		1,437,573
Other		7,189		6		-		30		7,225		207,984
Commercial and industrial loans		2,327		52		-		24		2,403		1,083,753
Consumer loans		258,724		6,973		579		906		267,182		268,002
Other loans		5,348		31		-		-		5,379		587,213
	$	1,875,642	$	18,935	$	2,497	$	19,904	$	1,916,978	$	5,783,712

	December 31, 2010
			Commercial Loans
			Pass -		Special Mention -		Substandard -		Doubtful -
			Categories 1-6		Category 7		Category 8		Category 9		Subtotal
Loans secured by real estate:
Construction, land development and other land loans			$	347,287	$	44,459	$	134,503	$	512	$	526,761
Secured by 1-4 family residential properties				113,776		780		25,167		226		139,949
Secured by nonfarm, nonresidential properties				1,353,794		16,858		126,050		431		1,497,133
Other				216,022		180		7,418		-		223,620
Commercial and industrial loans				977,793		25,642		58,307		1,416		1,063,158
Consumer loans				524		-		-		-		524
Other loans				535,110		210		3,633		146		539,099
			$	3,544,306	$	88,129	$	355,078	$	2,731	$	3,990,244


	Consumer Loans
			Past Due		Past Due Greater						Total LHFI, excluding
	Current		30-89 Days		Than 90 days		Nonaccrual		Subtotal		covered loans
Loans secured by real estate:
Construction, land development and other land loans	$	53,797	$	223	$	-	$	2,535	$	56,555	$	583,316
Secured by 1-4 family residential properties		1,559,611		10,302		1,278		20,916		1,592,107		1,732,056
Secured by nonfarm, nonresidential properties		975		-		-		-		975		1,498,108
Other		8,282		26		-		35		8,343		231,963
Commercial and industrial loans		5,075		97		-		39		5,211		1,068,369
Consumer loans		383,529		13,741		2,260		2,111		401,641		402,165
Other loans		5,166		-		-		-		5,166		544,265
	$	2,016,435	$	24,389	$	3,538	$	25,636	$	2,069,998	$	6,060,242

Aging Analysis of Past Due Loans and Nonaccrual Loans, excluding Covered Loans By Class

The following table provides an aging analysis of past due and nonaccrual LHFI, excluding covered loans, by class at September 30, 2011 and December 31, 2010 ($ in thousands):

	September 30, 2011
	Past Due
			Greater than						Current		Total LHFI, excluding
	30-89 Days		90 Days (1)		Total		Nonaccrual		Loans		covered loans

Loans secured by real estate:
Construction, land development and other land loans	$	4,653	$	844	$	5,497	$	29,594	$	446,730	$	481,821
Secured by 1-4 family residential properties		12,798		1,743		14,541		23,558		1,679,267		1,717,366
Secured by nonfarm, nonresidential properties		19,863		-		19,863		25,303		1,392,407		1,437,573
Other		63		-		63		4,821		203,100		207,984
Commercial and industrial loans		8,781		-		8,781		14,204		1,060,768		1,083,753
Consumer loans		6,973		579		7,552		907		259,543		268,002
Other loans		785		-		785		1,191		585,237		587,213
Total past due LHFI	$	53,916	$	3,166	$	57,082	$	99,578	$	5,627,052	$	5,783,712

(1) - Past due greater than 90 days but still accruing interest.

	December 31, 2010
	Past Due
			Greater than						Current		Total LHFI, excluding
	30-89 Days		90 Days (1)		Total		Nonaccrual		Loans		covered loans

Loans secured by real estate:
Construction, land development and other land loans	$	1,651	$	-	$	1,651	$	57,831	$	523,834	$	583,316
Secured by 1-4 family residential properties		11,654		1,278		12,932		30,313		1,688,811		1,732,056
Secured by nonfarm, nonresidential properties		9,149		31		9,180		29,013		1,459,915		1,498,108
Other		441		-		441		6,154		225,368		231,963
Commercial and industrial loans		4,178		39		4,217		16,107		1,048,045		1,068,369
Consumer loans		13,741		2,260		16,001		2,112		384,052		402,165
Other loans		67		-		67		1,393		542,805		544,265
Total past due LHFI	$	40,881	$	3,608	$	44,489	$	142,923	$	5,872,830	$	6,060,242

(1) - Past due greater than 90 days but still accruing interest.

Change in Allowance For Loan Losses

Changes in the allowance for loan losses were as follows ($ in thousands):

	Nine Months Ended September 30,
	2011			2010
Balance at January 1,	$	93,510		$	103,662
Loans charged-off		(37,312	)		(56,014	)
Recoveries		9,634			9,058
Net charge-offs		(27,678	)		(46,956	)
Provision for loan losses		23,631			37,752
Balance at September 30,	$	89,463		$	94,458

The following tables detail the balance in the allowance for loan losses by portfolio segment at September 30, 2011 and 2010, respectively ($ in thousands):

	Allowance for Loan Losses
	Balance										Balance
	January 1,							Provision for			September 30,
	2011		Charge-offs			Recoveries		Loan Losses			2011
Loans secured by real estate:
Construction, land development and other land loans	$	35,562	$	(14,375	)	$	-	$	8,353		$	29,540
Secured by 1-4 family residential properties		13,051		(7,461	)		410		5,538			11,538
Secured by nonfarm, nonresidential properties		20,980		(3,124	)		-		4,882			22,738
Other		1,582		(577	)		-		1,969			2,974
Commercial and industrial loans		14,775		(3,811	)		2,259		2,529			15,752
Consumer loans		5,400		(4,410	)		4,475		(1,474	)		3,991
Other loans		2,160		(3,554	)		2,490		1,834			2,930
Total	$	93,510	$	(37,312	)	$	9,634	$	23,631		$	89,463


						Allowance for Loan Losses
						Disaggregated by Impairment Method
						Individually		Collectively			Total
Loans secured by real estate:
Construction, land development and other land loans						$	4,165	$	25,375		$	29,540
Secured by 1-4 family residential properties							540		10,998			11,538
Secured by nonfarm, nonresidential properties							1,510		21,228			22,738
Other							1,008		1,966			2,974
Commercial and industrial loans							1,454		14,298			15,752
Consumer loans							10		3,981			3,991
Other loans							275		2,655			2,930
Total						$	8,962	$	80,501		$	89,463

	Allowance for Loan Losses
	Balance									Balance
	January 1,							Provision for		September 30,
	2010		Charge-offs			Recoveries		Loan Losses		2010
Loans secured by real estate:
Construction, land development and other land loans	$	43,552	$	(25,462	)	$	-	$	15,915	$	34,005
Secured by 1-4 family residential properties		13,151		(8,569	)		372		6,941		11,895
Secured by nonfarm, nonresidential properties		20,110		(5,183	)		-		6,345		21,272
Other		1,631		(576	)		-		480		1,535
Commercial and industrial loans		16,275		(2,515	)		1,617		2,120		17,497
Consumer loans		7,246		(8,175	)		4,698		2,137		5,906
Other loans		1,697		(5,534	)		2,371		3,814		2,348
Total	$	103,662	$	(56,014	)	$	9,058	$	37,752	$	94,458


						Allowance for Loan Losses
						Disaggregated by Impairment Method
						Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land loans						$	4,706	$	29,299	$	34,005
Secured by 1-4 family residential properties							755		11,140		11,895
Secured by nonfarm, nonresidential properties							1,398		19,874		21,272
Other							203		1,332		1,535
Commercial and industrial loans							4,528		12,969		17,497
Consumer loans							17		5,889		5,906
Other loans							38		2,310		2,348
Total						$	11,645	$	82,813	$	94,458