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

3 Months Ended

Mar. 31, 2014

Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI [Abstract]

Loan portfolio held for investment

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

	March 31, 2014		December 31, 2013
Loans secured by real estate:
Construction, land development and other land loans	$	592,658	$	596,889
Secured by 1-4 family residential properties		1,533,781		1,485,564
Secured by nonfarm, nonresidential properties		1,461,947		1,415,139
Other		193,221		189,362
Commercial and industrial loans		1,207,367		1,157,614
Consumer loans		160,153		165,308
Other loans		774,639		789,005
LHFI		5,923,766		5,798,881
Less allowance for loan losses, LHFI		67,518		66,448
Net LHFI	$	5,856,248	$	5,732,433

Summary of LHFI evaluated for impairment

The following table details LHFI individually and collectively evaluated for impairment at March 31, 2014 and December 31, 2013 ($ in thousands):

	March 31, 2014
	LHFI Evaluated for Impairment
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land loans	$	11,259	$	581,399	$	592,658
Secured by 1-4 family residential properties		24,585		1,509,196		1,533,781
Secured by nonfarm, nonresidential properties		20,701		1,441,246		1,461,947
Other		1,307		191,914		193,221
Commercial and industrial loans		5,451		1,201,916		1,207,367
Consumer loans		134		160,019		160,153
Other loans		561		774,078		774,639
Total	$	63,998	$	5,859,768	$	5,923,766

	December 31, 2013
	LHFI Evaluated for Impairment
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land loans	$	13,327	$	583,562	$	596,889
Secured by 1-4 family residential properties		21,603		1,463,961		1,485,564
Secured by nonfarm, nonresidential properties		21,809		1,393,330		1,415,139
Other		1,327		188,035		189,362
Commercial and industrial loans		6,286		1,151,328		1,157,614
Consumer loans		151		165,157		165,308
Other loans		735		788,270		789,005
Total	$	65,238	$	5,733,643	$	5,798,881

Impaired financing receivables

At March 31, 2014 and December 31, 2013, the carrying amount of LHFI individually evaluated for impairment consisted of the following ($ in thousands):

	March 31, 2014
	LHFI
	Unpaid		With No Related		With an		Total				Average
	Principal		Allowance		Allowance		Carrying		Related		Recorded
	Balance		Recorded		Recorded		Amount		Allowance		Investment
Loans secured by real estate:
Construction, land development and other land loans	$	17,722	$	8,974	$	2,285	$	11,259	$	674	$	12,293
Secured by 1-4 family residential properties		29,417		2,218		22,367		24,585		244		23,094
Secured by nonfarm, nonresidential properties		23,779		9,471		11,230		20,701		2,123		21,255
Other		1,363		-		1,307		1,307		121		1,317
Commercial and industrial loans		7,951		2,273		3,178		5,451		2,111		5,869
Consumer loans		248		-		134		134		1		143
Other loans		673		-		561		561		267		648
Total	$	81,153	$	22,936	$	41,062	$	63,998	$	5,541	$	64,619

	December 31, 2013
	LHFI
	Unpaid		With No Related		With an		Total				Average
	Principal		Allowance		Allowance		Carrying		Related		Recorded
	Balance		Recorded		Recorded		Amount		Allowance		Investment
Loans secured by real estate:
Construction, land development and other land loans	$	24,350	$	9,817	$	3,510	$	13,327	$	989	$	20,216
Secured by 1-4 family residential properties		26,541		3,095		18,508		21,603		191		24,359
Secured by nonfarm, nonresidential properties		24,879		10,225		11,584		21,809		2,307		20,049
Other		1,375		-		1,327		1,327		122		2,641
Commercial and industrial loans		8,702		2,506		3,780		6,286		1,253		5,513
Consumer loans		286		-		151		151		2		255
Other loans		849		-		735		735		317		767
Total	$	86,982	$	25,643	$	39,595	$	65,238	$	5,181	$	73,800

Impact of modifications classified as troubled debt restructurings

The following table illustrates the impact of modifications classified as TDRs as well as those TDRs modified within the last 12 months for which there was a payment default during the period for the three months ended March 31, 2014 and 2013 ($ in thousands):

	Three Months Ended March 31, 2014
Troubled Debt Restructurings	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Secured by 1-4 family residential properties		10	$	703	$	694
	Three Months Ended March 31, 2013
Troubled Debt Restructurings	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Secured by 1-4 family residential properties		2	$	249	$	193
Secured by nonfarm, nonresidential properties		1		952		952
Commercial and industrial		2		944		937
Other loans		1		2,490		2,490
Total		6	$	4,635	$	4,572

Troubled debt restructuring subsequently defaulted

	Three Months Ended March 31,
	2014				2013
Troubled Debt Restructurings that Subsequently Defaulted	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Construction, land development and other land loans		-	$	-		4	$	236
Secured by 1-4 family residential properties		-		-		19		1,506
Total		-	$	-		23	$	1,742

Troubled debt restructuring related to loans held for investment, excluding covered loans, by loan type

At March 31, 2014 and December 31, 2013, the following table details LHFI classified as TDRs by loan type ($ in thousands):

	March 31, 2014
	Accruing		Nonaccrual		Total
Construction, land development and other land loans	$	-	$	4,757	$	4,757
Secured by 1-4 family residential properties		1,540		4,141		5,681
Secured by nonfarm, nonresidential properties		-		2,215		2,215
Other loans secured by real estate		-		164		164
Commercial and industrial		-		542		542
Total Troubled Debt Restructurings by Type	$	1,540	$	11,819	$	13,359
	December 31, 2013
	Accruing		Nonaccrual		Total
Construction, land development and other land loans	$	-	$	6,247	$	6,247
Secured by 1-4 family residential properties		1,320		4,201		5,521
Secured by nonfarm, nonresidential properties		-		2,292		2,292
Other loans secured by real estate		-		167		167
Commercial and industrial		-		549		549
Total Troubled Debt Restructurings by Type	$	1,320	$	13,456	$	14,776

Carrying amount of loans by credit quality indicator

The tables below illustrate the carrying amount of LHFI by credit quality indicator at March 31, 2014 and December 31, 2013 ($ in thousands):

	March 31, 2014
			Commercial LHFI
			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			$	484,794	$	5,165	$	44,352	$	262	$	534,573
Secured by 1-4 family residential properties				123,788		1,566		7,414		185		132,953
Secured by nonfarm, nonresidential properties				1,368,632		9,660		81,973		308		1,460,573
Other				183,131		-		6,680		238		190,049
Commercial and industrial loans				1,150,067		19,826		35,808		1,662		1,207,363
Consumer loans				253		-		-		-		253
Other loans				761,979		60		6,998		561		769,598
			$	4,072,644	$	36,277	$	183,225	$	3,216	$	4,295,362
	Consumer LHFI
			Past Due		Past Due
	Current		30-89 Days		90 Days or More		Nonaccrual		Subtotal		Total LHFI
Loans secured by real estate:
Construction, land development and other land loans	$	57,524	$	399	$	-	$	162	$	58,085	$	592,658
Secured by 1-4 family residential properties		1,370,812		7,232		1,430		21,354		1,400,828		1,533,781
Secured by nonfarm, nonresidential properties		1,374		-		-		-		1,374		1,461,947
Other		3,172		-		-		-		3,172		193,221
Commercial and industrial loans		3		-		1		-		4		1,207,367
Consumer loans		158,100		1,383		284		133		159,900		160,153
Other loans		5,041		-		-		-		5,041		774,639
	$	1,596,026	$	9,014	$	1,715	$	21,649	$	1,628,404	$	5,923,766

	December 31, 2013
			Commercial LHFI
			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			$	493,380	$	4,383	$	47,610	$	318	$	545,691
Secured by 1-4 family residential properties				119,640		479		7,839		110		128,068
Secured by nonfarm, nonresidential properties				1,313,470		12,620		87,203		399		1,413,692
Other				178,951		-		6,756		235		185,942
Commercial and industrial loans				1,099,429		18,771		37,209		2,187		1,157,596
Consumer loans				496		-		-		-		496
Other loans				777,395		60		4,126		669		782,250
			$	3,982,761	$	36,313	$	190,743	$	3,918	$	4,213,735
	Consumer LHFI
			Past Due		Past Due
	Current		30-89 Days		90 Days or More		Nonaccrual		Subtotal		Total LHFI
Loans secured by real estate:
Construction, land development and other land loans	$	50,850	$	131	$	-	$	217	$	51,198	$	596,889
Secured by 1-4 family residential properties		1,327,624		8,937		2,996		17,939		1,357,496		1,485,564
Secured by nonfarm, nonresidential properties		1,439		8		-		-		1,447		1,415,139
Other		3,418		2		-		-		3,420		189,362
Commercial and industrial loans		13		5		-		-		18		1,157,614
Consumer loans		162,348		2,012		302		150		164,812		165,308
Other loans		6,755		-		-		-		6,755		789,005
	$	1,552,447	$	11,095	$	3,298	$	18,306	$	1,585,146	$	5,798,881

Aging analysis of past due loans and Nonaccrual Loans, excluding covered loans by class

LHFI past due 90 days or more totaled $1.9 million and $3.3 million at March 31, 2014 and December 31, 2013, respectively.  The following tables provide an aging analysis of past due and nonaccrual LHFI by class at March 31, 2014 and December 31, 2013 ($ in thousands):

	March 31, 2014
	Past Due
			90 Days						Current
	30-89 Days		or More (1)		Total		Nonaccrual		Loans		Total LHFI
Loans secured by real estate:
Construction, land development and other land loans	$	2,530	$	154	$	2,684	$	11,259	$	578,715	$	592,658
Secured by 1-4 family residential properties		7,969		1,431		9,400		24,585		1,499,796		1,533,781
Secured by nonfarm, nonresidential properties		1,418		-		1,418		20,701		1,439,828		1,461,947
Other		63		-		63		1,307		191,851		193,221
Commercial and industrial loans		1,874		-		1,874		5,451		1,200,042		1,207,367
Consumer loans		1,382		284		1,666		134		158,353		160,153
Other loans		4		-		4		561		774,074		774,639
Total	$	15,240	$	1,869	$	17,109	$	63,998	$	5,842,659	$	5,923,766

(1) - Past due 90 days or more but still accruing interest.

	December 31, 2013
	Past Due
			90 Days						Current
	30-89 Days		or More (1)		Total		Nonaccrual		Loans		Total LHFI
Loans secured by real estate:
Construction, land development and other land loans	$	923	$	-	$	923	$	13,327	$	582,639	$	596,889
Secured by 1-4 family residential properties		9,437		2,996		12,433		21,603		1,451,528		1,485,564
Secured by nonfarm, nonresidential properties		2,044		-		2,044		21,809		1,391,286		1,415,139
Other		5		-		5		1,327		188,030		189,362
Commercial and industrial loans		1,007		-		1,007		6,286		1,150,321		1,157,614
Consumer loans		2,012		302		2,314		151		162,843		165,308
Other loans		17		-		17		735		788,253		789,005
Total	$	15,445	$	3,298	$	18,743	$	65,238	$	5,714,900	$	5,798,881

(1) - Past due 90 days or more but still accruing interest.

Change in allowance for loan losses

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

	Three Months Ended March 31,
	2014			2013
Balance at January 1,	$	66,448		$	78,738
Loans charged-off		(3,016	)		(3,325	)
Recoveries		4,891			4,455
Net recoveries		1,875			1,130
Provision for loan losses, LHFI		(805	)		(2,968	)
Balance at March 31,	$	67,518		$	76,900

The followingtables detail the balance in the allowance for loan losses, LHFI by portfolio segment at March 31, 2014 and 2013 ($ in thousands):

	2014
	Balance							Provision for			Balance
	January 1,		Charge-offs			Recoveries		Loan Losses			March 31,
Loans secured by real estate:
Construction, land development and other land loans	$	13,165	$	(49	)	$	2,615	$	(3,297	)	$	12,434
Secured by 1-4 family residential properties		9,633		(1,282	)		64		515			8,930
Secured by nonfarm, nonresidential properties		19,672		(47	)		33		(859	)		18,799
Other		2,080		-			-		24			2,104
Commercial and industrial loans		15,522		(121	)		185		3,494			19,080
Consumer loans		2,405		(510	)		1,068		(910	)		2,053
Other loans		3,971		(1,007	)		926		228			4,118
Total allowance for loan losses, LHFI	$	66,448	$	(3,016	)	$	4,891	$	(805	)	$	67,518
						Disaggregated by Impairment Method
						Individually		Collectively			Total
Loans secured by real estate:
Construction, land development and other land loans						$	674	$	11,760		$	12,434
Secured by 1-4 family residential properties							244		8,686			8,930
Secured by nonfarm, nonresidential properties							2,123		16,676			18,799
Other							121		1,983			2,104
Commercial and industrial loans							2,111		16,969			19,080
Consumer loans							1		2,052			2,053
Other loans							267		3,851			4,118
Total allowance for loan losses, LHFI						$	5,541	$	61,977		$	67,518

	2013
	Balance							Provision for			Balance
	January 1,		Charge-offs			Recoveries		Loan Losses			March 31,
Loans secured by real estate:
Construction, land development and other land loans	$	21,838	$	(297	)	$	-	$	(1,964	)	$	19,577
Secured by 1-4 family residential properties		12,957		(209	)		59		(1,083	)		11,724
Secured by nonfarm, nonresidential properties		21,096		(168	)		-		(896	)		20,032
Other		2,197		(910	)		-		53			1,340
Commercial and industrial loans		14,319		(40	)		2,031		1,360			17,670
Consumer loans		3,087		(634	)		1,451		(876	)		3,028
Other loans		3,244		(1,067	)		914		438			3,529
Total allowance for loan losses, LHFI	$	78,738	$	(3,325	)	$	4,455	$	(2,968	)	$	76,900
						Disaggregated by Impairment Method
						Individually		Collectively			Total
Loans secured by real estate:
Construction, land development and other land loans						$	3,514	$	16,063		$	19,577
Secured by 1-4 family residential properties							1,117		10,607			11,724
Secured by nonfarm, nonresidential properties							2,170		17,862			20,032
Other							32		1,308			1,340
Commercial and industrial loans							3,584		14,086			17,670
Consumer loans							2		3,026			3,028
Other loans							594		2,935			3,529
Total allowance for loan losses, LHFI						$	11,013	$	65,887		$	76,900