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Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (Tables)
 9 Months Ended
Sep. 30, 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):

  
September 30, 2014
  
December 31, 2013
 
Loans secured by real estate:
 
  
 
Construction, land development and other land
 
$
580,794
  
$
596,889
 
Secured by 1-4 family residential properties
  
1,625,480
   
1,485,564
 
Secured by nonfarm, nonresidential properties
  
1,560,901
   
1,415,139
 
Other
  
239,819
   
189,362
 
Commercial and industrial loans
  
1,246,753
   
1,157,614
 
Consumer loans
  
168,813
   
165,308
 
Other loans
  
911,091
   
789,005
 
LHFI
  
6,333,651
   
5,798,881
 
Less allowance for loan losses, LHFI
  
70,134
   
66,448
 
Net LHFI
 
$
6,263,517
  
$
5,732,433
 
 
Summary of LHFI evaluated for impairment
The following table details LHFI individually and collectively evaluated for impairment at September 30, 2014 and December 31, 2013 ($ in thousands):

  
September 30, 2014
 
  
LHFI Evaluated for Impairment
 
  
Individually
  
Collectively
  
Total
 
       
Loans secured by real estate:
      
Construction, land development and other land
 
$
20,286
  
$
560,508
  
$
580,794
 
Secured by 1-4 family residential properties
  
27,017
   
1,598,463
   
1,625,480
 
Secured by nonfarm, nonresidential properties
  
23,885
   
1,537,016
   
1,560,901
 
Other
  
1,203
   
238,616
   
239,819
 
Commercial and industrial loans
  
15,178
   
1,231,575
   
1,246,753
 
Consumer loans
  
160
   
168,653
   
168,813
 
Other loans
  
585
   
910,506
   
911,091
 
 Total
 
$
88,314
  
$
6,245,337
  
$
6,333,651
 

  
December 31, 2013
 
  
LHFI Evaluated for Impairment
 
  
Individually
  
Collectively
  
Total
 
       
Loans secured by real estate:
      
Construction, land development and other land
 
$
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 September 30, 2014 and December 31, 2013, the carrying amount of LHFI individually evaluated for impairment consisted of the following ($ in thousands):

  
September 30, 2014
 
  
LHFI
     
  
Unpaid
Principal
Balance
  
With No Related
Allowance
Recorded
  
With an
Allowance
Recorded
  
Total
Carrying
Amount
  
Related
Allowance
  
Average
Recorded
Investment
 
             
Loans secured by real estate:
            
Construction, land development and other land
 
$
27,271
  
$
9,491
  
$
10,795
  
$
20,286
  
$
2,607
  
$
16,806
 
Secured by 1-4 family residential properties
  
32,478
   
1,758
   
25,259
   
27,017
   
431
   
24,310
 
Secured by nonfarm, nonresidential properties
  
26,702
   
14,420
   
9,465
   
23,885
   
2,163
   
22,847
 
Other
  
1,468
   
-
   
1,203
   
1,203
   
57
   
1,265
 
Commercial and industrial loans
  
16,624
   
1,916
   
13,262
   
15,178
   
5,203
   
10,732
 
Consumer loans
  
239
   
-
   
160
   
160
   
1
   
156
 
Other loans
  
698
   
-
   
585
   
585
   
263
   
661
 
Total
 
$
105,480
  
$
27,585
  
$
60,729
  
$
88,314
  
$
10,725
  
$
76,777
 

 
December 31, 2013
  
LHFI
     
  
Unpaid
Principal
Balance
  
With No Related
Allowance
Recorded
  
With an
Allowance
Recorded
  
Total
Carrying
Amount
  
Related
Allowance
  
Average
Recorded
Investment
 
Loans secured by real estate:
            
Construction, land development and other land
 
$
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 for the three and nine months ended September 30, 2014 and 2013 as well as those TDRs modified within the last 12 months for which there was a payment default during the period ($ in thousands):
 
  
Three Months Ended September 30,
 
  
2014
  
2013
 
Troubled Debt Restructurings
 
Number of Contracts
  
Pre-Modification
Outstanding
Recorded
Investment
  
Post-Modification
Outstanding
Recorded
Investment
  
Number of Contracts
  
Pre-Modification
Outstanding
Recorded
Investment
  
Post-Modification
Outstanding
Recorded
Investment
 
Secured by 1-4 family residential properties
  
2
  
$
191
  
$
191
   
1
  
$
32
  
$
32
 
 
  
Nine Months Ended September 30,
 
  
2014
  
2013
 
Troubled Debt Restructurings
 
Number of Contracts
  
Pre-Modification
Outstanding
Recorded
Investment
  
Post-Modification
Outstanding
Recorded
Investment
  
Number of Contracts
  
Pre-Modification
Outstanding
Recorded
Investment
  
Post-Modification
Outstanding
Recorded
Investment
 
Secured by 1-4 family residential properties
  
16
  
$
1,172
  
$
1,158
   
6
  
$
412
  
$
358
 
Secured by nonfarm, nonresidential properties
  
-
   
-
   
-
   
1
   
952
   
952
 
Commercial and industrial
  
-
   
-
   
-
   
2
   
944
   
937
 
Other loans
  
-
   
-
   
-
   
1
   
2,490
   
2,490
 
Total
  
16
  
$
1,172
  
$
1,158
   
10
  
$
4,798
  
$
4,737
 
 
Troubled debt restructuring subsequently defaulted
  
Nine Months Ended September 30,
 
  
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
  
-
  
$
-
   
1
  
$
9
 
Secured by 1-4 family residential properties
  
1
   
106
   
4
   
389
 
Total
  
1
  
$
106
   
5
  
$
398
 
 
Troubled debt restructuring related to loans held for investment, excluding covered loans, by loan type
The following tables detail LHFI classified as TDRs by loan type for the periods presented ($ in thousands):

  
September 30, 2014
 
  
Accruing
  
Nonaccrual
  
Total
 
Construction, land development and other land loans
 
$
-
  
$
4,076
  
$
4,076
 
Secured by 1-4 family residential properties
  
1,373
   
3,940
   
5,313
 
Secured by nonfarm, nonresidential properties
  
-
   
1,923
   
1,923
 
Other loans secured by real estate
  
-
   
156
   
156
 
Commercial and industrial
  
-
   
524
   
524
 
Total Troubled Debt Restructurings by Type
 
$
1,373
  
$
10,619
  
$
11,992
 
             
  
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
 
             
  
September 30, 2013
 
  
Accruing
  
Nonaccrual
  
Total
 
Construction, land development and other land loans
 
$
227
  
$
7,304
  
$
7,531
 
Secured by 1-4 family residential properties
  
1,255
   
4,965
   
6,220
 
Secured by nonfarm, nonresidential properties
  
-
   
2,349
   
2,349
 
Other loans secured by real estate
  
-
   
174
   
174
 
Commercial and industrial
  
-
   
568
   
568
 
Total Troubled Debt Restructurings by Type
 
$
1,482
  
$
15,360
  
$
16,842
 
Carrying amount of loans by credit quality indicator
The table below illustrates the carrying amount of LHFI by credit quality indicator at September 30, 2014 and December 31, 2013 ($ in thousands):

  
September 30, 2014
 
    
Commercial LHFI
 
    
Pass -
Categories 1-6
  
Special Mention -
Category 7
  
Substandard -
Category 8
  
Doubtful -
Category 9
  
Subtotal
 
Loans secured by real estate:
            
Construction, land development and other land
   
$
482,131
  
$
1,774
  
$
37,353
  
$
143
  
$
521,401
 
Secured by 1-4 family residential properties
    
129,352
   
1,692
   
7,576
   
263
   
138,883
 
Secured by nonfarm, nonresidential properties
    
1,442,787
   
31,921
   
85,081
   
212
   
1,560,001
 
Other
    
230,604
   
-
   
6,700
   
-
   
237,304
 
Commercial and industrial loans
    
1,210,480
   
6,007
   
29,418
   
847
   
1,246,752
 
Consumer loans
    
198
   
-
   
-
   
-
   
198
 
Other loans
    
890,052
   
7,670
   
6,545
   
586
   
904,853
 
    
$
4,385,604
  
$
49,064
  
$
172,673
  
$
2,051
  
$
4,609,392
 
                       
  
Consumer LHFI
     
  
Current
  
Past Due
30-89 Days
  
Past Due
90 Days or More
  
Nonaccrual
  
Subtotal
  
Total LHFI
 
Loans secured by real estate:
                      
Construction, land development and other land
 
$
58,866
  
$
424
  
$
-
  
$
103
  
$
59,393
  
$
580,794
 
Secured by 1-4 family residential properties
  
1,451,174
   
9,411
   
2,845
   
23,167
   
1,486,597
   
1,625,480
 
Secured by nonfarm, nonresidential properties
  
900
   
-
   
-
   
-
   
900
   
1,560,901
 
Other
  
2,515
   
-
   
-
   
-
   
2,515
   
239,819
 
Commercial and industrial loans
  
-
   
-
   
1
   
-
   
1
   
1,246,753
 
Consumer loans
  
166,314
   
1,870
   
272
   
159
   
168,615
   
168,813
 
Other loans
  
6,238
   
-
   
-
   
-
   
6,238
   
911,091
 
  
$
1,686,007
  
$
11,705
  
$
3,118
  
$
23,429
  
$
1,724,259
  
$
6,333,651
 
 
  
December 31, 2013
 
    
Commercial LHFI
 
    
Pass -
Categories 1-6
  
Special Mention -
Category 7
  
Substandard -
Category 8
  
Doubtful -
Category 9
  
Subtotal
 
Loans secured by real estate:
            
Construction, land development and other land
   
$
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
     
  
Current
  
Past Due
30-89 Days
  
Past Due
90 Days or More
  
Nonaccrual
  
Subtotal
  
Total LHFI
 
Loans secured by real estate:
                      
Construction, land development and other land
 
$
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
The following tables provide an aging analysis of past due and nonaccrual LHFI by class at September 30, 2014 and December 31, 2013 ($ in thousands):

  
September 30, 2014
 
  
Past Due
       
  
30-59 Days
  
60-89 Days
  
90 Days
or More (1)
  
Total
  
Nonaccrual
  
Current
Loans
  
Total LHFI
 
               
Loans secured by real estate:
              
Construction, land development and other land
 
$
466
  
$
360
  
$
268
  
$
1,094
  
$
20,286
  
$
559,414
  
$
580,794
 
Secured by 1-4 family residential properties
  
6,685
   
2,893
   
2,845
   
12,423
   
27,017
   
1,586,040
   
1,625,480
 
Secured by nonfarm, nonresidential properties
  
9,787
   
3,614
   
-
   
13,401
   
23,885
   
1,523,615
   
1,560,901
 
Other
  
202
   
65
   
-
   
267
   
1,203
   
238,349
   
239,819
 
Commercial and industrial loans
  
1,806
   
97
   
454
   
2,357
   
15,178
   
1,229,218
   
1,246,753
 
Consumer loans
  
1,627
   
243
   
272
   
2,142
   
160
   
166,511
   
168,813
 
Other loans
  
82
   
27
   
-
   
109
   
585
   
910,397
   
911,091
 
Total
 
$
20,655
  
$
7,299
  
$
3,839
  
$
31,793
  
$
88,314
  
$
6,213,544
  
$
6,333,651
 
 
(1) Past due 90 days or more but still accruing interest.

 
  
December 31, 2013
 
  
Past Due
       
  
30-59 Days
  
60-89 Days
  
90 Days
or More (1)
  
Total
  
Nonaccrual
  
Current
Loans
  
Total LHFI
 
Loans secured by real estate:
              
Construction, land development and other land
 
$
656
  
$
267
  
$
-
  
$
923
  
$
13,327
  
$
582,639
  
$
596,889
 
Secured by 1-4 family residential properties
  
7,322
   
2,115
   
2,996
   
12,433
   
21,603
   
1,451,528
   
1,485,564
 
Secured by nonfarm, nonresidential properties
  
1,934
   
110
   
-
   
2,044
   
21,809
   
1,391,286
   
1,415,139
 
Other
  
2
   
3
   
-
   
5
   
1,327
   
188,030
   
189,362
 
Commercial and industrial loans
  
809
   
198
   
-
   
1,007
   
6,286
   
1,150,321
   
1,157,614
 
Consumer loans
  
1,866
   
146
   
302
   
2,314
   
151
   
162,843
   
165,308
 
Other loans
  
17
   
-
   
-
   
17
   
735
   
788,253
   
789,005
 
Total
 
$
12,606
  
$
2,839
  
$
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 for the periods presented ($ in thousands):

  
Nine Months Ended September 30,
 
  
2014
  
2013
 
Balance at beginning of period
 
$
66,448
  
$
78,738
 
Loans charged-off
  
(10,052
)
  
(10,173
)
Recoveries
  
11,134
   
11,505
 
Net recoveries
  
1,082
   
1,332
 
Provision for loan losses, LHFI
  
2,604
   
(11,438
)
Balance at end of period
 
$
70,134
  
$
68,632
 

The following tables detail the balance in the allowance for loan losses, LHFI by portfolio segment at September 30, 2014 and 2013, respectively ($ in thousands):
 
  
2014
 
  
Balance
January 1,
  
Charge-offs
  
Recoveries
  
Provision for
Loan Losses
  
Balance
September 30,
 
Loans secured by real estate:
          
Construction, land development and other land
 
$
13,165
  
$
(604
)
 
$
3,413
  
$
(6,139
)
 
$
9,835
 
Secured by 1-4 family residential properties
  
9,633
   
(2,306
)
  
861
   
1,986
   
10,174
 
Secured by nonfarm, nonresidential properties
  
19,672
   
(240
)
  
400
   
1,099
   
20,931
 
Other
  
2,080
   
(277
)
  
-
   
571
   
2,374
 
Commercial and industrial loans
  
15,522
   
(1,787
)
  
1,321
   
4,490
   
19,546
 
Consumer loans
  
2,405
   
(1,304
)
  
2,760
   
(1,631
)
  
2,230
 
Other loans
  
3,971
   
(3,534
)
  
2,379
   
2,228
   
5,044
 
Total allowance for loan losses, LHFI
 
$
66,448
  
$
(10,052
)
 
$
11,134
  
$
2,604
  
$
70,134
 
                     
          
Disaggregated by Impairment Method
 
          
Individually
  
Collectively
  
Total
 
Loans secured by real estate:
                    
Construction, land development and other land
         
$
2,607
  
$
7,228
  
$
9,835
 
Secured by 1-4 family residential properties
          
431
   
9,743
   
10,174
 
Secured by nonfarm, nonresidential properties
          
2,163
   
18,768
   
20,931
 
Other
          
57
   
2,317
   
2,374
 
Commercial and industrial loans
          
5,203
   
14,343
   
19,546
 
Consumer loans
          
1
   
2,229
   
2,230
 
Other loans
          
263
   
4,781
   
5,044
 
Total allowance for loan losses, LHFI
         
$
10,725
  
$
59,409
  
$
70,134
 
 
  
2013
 
  
Balance
January 1,
  
Charge-offs
 
Recoveries
 
Provision for
Loan Losses
 
Balance
September 30,
 
Loans secured by real estate:
       
Construction, land development and other land
 
$
21,838
  
$
(1,091
)
 
$
2,561
  
$
(7,419
)
 
$
15,889
 
Secured by 1-4 family residential properties
  
12,957
   
(839
)
  
363
   
(3,723
)
  
8,758
 
Secured by nonfarm, nonresidential properties
  
21,096
   
(572
)
  
64
   
(1,828
)
  
18,760
 
Other
  
2,197
   
(910
)
  
80
   
497
   
1,864
 
Commercial and industrial loans
  
14,319
   
(1,225
)
  
2,190
   
2,004
   
17,288
 
Consumer loans
  
3,087
   
(1,789
)
  
3,561
   
(2,256
)
  
2,603
 
Other loans
  
3,244
   
(3,747
)
  
2,686
   
1,287
   
3,470
 
Total allowance for loan losses, LHFI
 
$
78,738
  
$
(10,173
)
 
$
11,505
  
$
(11,438
)
 
$
68,632
 
                     
         
Disaggregated by Impairment Method
 
         
Individually
 
Collectively
 
Total
 
Loans secured by real estate:
                    
Construction, land development and other land
         
$
957
  
$
14,932
  
$
15,889
 
Secured by 1-4 family residential properties
          
260
   
8,498
   
8,758
 
Secured by nonfarm, nonresidential properties
          
2,733
   
16,027
   
18,760
 
Other
          
37
   
1,827
   
1,864
 
Commercial and industrial loans
          
5,393
   
11,895
   
17,288
 
Consumer loans
          
2
   
2,601
   
2,603
 
Other loans
          
324
   
3,146
   
3,470
 
Total allowance for loan losses, LHFI
         
$
9,706
  
$
58,926
  
$
68,632