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Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (Tables)
 3 Months Ended
Mar. 31, 2015
Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI [Abstract]  
Loan portfolio held for investment
At March 31, 2015 and December 31, 2014, LHFI consisted of the following ($ in thousands):

  
March 31, 2015
  
December 31, 2014
 
Loans secured by real estate:
 
  
 
Construction, land development and other land
 
$
691,657
  
$
619,877
 
Secured by 1-4 family residential properties
  
1,613,993
   
1,634,397
 
Secured by nonfarm, nonresidential properties
  
1,516,895
   
1,553,193
 
Other real estate secured
  
233,322
   
253,787
 
Commercial and industrial loans
  
1,228,788
   
1,270,350
 
Consumer loans
  
161,535
   
167,964
 
State and other political subdivision loans
  
614,330
   
602,727
 
Other loans
  
353,356
   
347,174
 
LHFI
  
6,413,876
   
6,449,469
 
Less allowance for loan losses, LHFI
  
71,321
   
69,616
 
Net LHFI
 
$
6,342,555
  
$
6,379,853
 
Summary of LHFI evaluated for impairment
The following table details LHFI individually and collectively evaluated for impairment at March 31, 2015 and December 31, 2014 ($ in thousands):
 
  
March 31, 2015
 
  
LHFI Evaluated for Impairment
 
  
Individually
  
Collectively
  
Total
 
Loans secured by real estate:
      
Construction, land development and other land
 
$
20,134
  
$
671,523
  
$
691,657
 
Secured by 1-4 family residential properties
  
23,620
   
1,590,373
   
1,613,993
 
Secured by nonfarm, nonresidential properties
  
17,887
   
1,499,008
   
1,516,895
 
Other real estate secured
  
723
   
232,599
   
233,322
 
Commercial and industrial loans
  
14,057
   
1,214,731
   
1,228,788
 
Consumer loans
  
96
   
161,439
   
161,535
 
State and other political subdivision loans
  
-
   
614,330
   
614,330
 
Other loans
  
491
   
352,865
   
353,356
 
Total
 
$
77,008
  
$
6,336,868
  
$
6,413,876
 
 
 
  
December 31, 2014
 
  
LHFI Evaluated for Impairment
 
  
Individually
  
Collectively
  
Total
 
Loans secured by real estate:
      
Construction, land development and other land
 
$
13,867
  
$
606,010
  
$
619,877
 
Secured by 1-4 family residential properties
  
25,621
   
1,608,776
   
1,634,397
 
Secured by nonfarm, nonresidential properties
  
25,717
   
1,527,476
   
1,553,193
 
Other real estate secured
  
1,318
   
252,469
   
253,787
 
Commercial and industrial loans
  
12,104
   
1,258,246
   
1,270,350
 
Consumer loans
  
88
   
167,876
   
167,964
 
State and other political subdivision loans
  
-
   
602,727
   
602,727
 
Other loans
  
628
   
346,546
   
347,174
 
Total
 
$
79,343
  
$
6,370,126
  
$
6,449,469
 
Impaired financing receivables
At March 31, 2015 and December 31, 2014, the carrying amount of LHFI individually evaluated for impairment consisted of the following ($ in thousands):
 
  
March 31, 2015
 
  
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
 
$
27,082
  
$
5,360
  
$
14,774
  
$
20,134
  
$
4,097
  
$
17,001
 
Secured by 1-4 family residential properties
  
29,273
   
1,465
   
22,155
   
23,620
   
429
   
24,621
 
Secured by nonfarm, nonresidential properties
  
19,489
   
6,293
   
11,594
   
17,887
   
2,728
   
21,801
 
Other real estate secured
  
812
   
-
   
723
   
723
   
51
   
1,021
 
Commercial and industrial loans
  
16,390
   
2,498
   
11,559
   
14,057
   
6,502
   
13,080
 
Consumer loans
  
148
   
-
   
96
   
96
   
-
   
92
 
State and other political subdivision loans
  
-
   
-
   
-
   
-
   
-
   
-
 
Other loans
  
608
   
-
   
491
   
491
   
209
   
559
 
Total
 
$
93,802
  
$
15,616
  
$
61,392
  
$
77,008
  
$
14,016
  
$
78,175
 


  
December 31, 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
 
$
20,849
  
$
7,411
  
$
6,456
  
$
13,867
  
$
2,767
  
$
13,597
 
Secured by 1-4 family residential properties
  
31,151
   
1,650
   
23,971
   
25,621
   
450
   
23,612
 
Secured by nonfarm, nonresidential properties
  
27,969
   
12,868
   
12,849
   
25,717
   
2,787
   
23,763
 
Other real estate secured
  
1,594
   
-
   
1,318
   
1,318
   
52
   
1,322
 
Commercial and industrial loans
  
13,916
   
1,206
   
10,898
   
12,104
   
6,449
   
9,195
 
Consumer loans
  
152
   
-
   
88
   
88
   
-
   
120
 
State and other political subdivision loans
  
-
   
-
   
-
   
-
   
-
   
-
 
Other loans
  
734
   
-
   
628
   
628
   
259
   
682
 
Total
 
$
96,365
  
$
23,135
  
$
56,208
  
$
79,343
  
$
12,764
  
$
72,291
 
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, 2015 and 2014 ($ in thousands):

  
Three Months Ended March 31, 2015
 
Troubled Debt Restructurings
 
Number of
Contracts
  
Pre-Modification
Outstanding
Recorded
Investment
  
Post-Modification
 Outstanding
 Recorded
 Investment
 
Secured by 1-4 family residential properties
  
6
  
$
378
  
$
378
 
 
 
  
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
 
Troubled debt restructuring subsequently defaulted
  
Three Months Ended March 31,
 
  
2015
  
2014
 
Troubled Debt Restructurings that Subsequently Defaulted
 
Number of
Contracts
  
Recorded
Investment
  
Number of
Contracts
  
Recorded
Investment
 
Secured by 1-4 family residential properties
  
2
  
$
183
   
-
  
$
-
 
Troubled debt restructuring related to loans held for investment, excluding covered loans, by loan type
The following table details LHFI classified as TDRs by loan type at March 31, 2015 and 2014 ($ in thousands):

  
March 31, 2015
 
  
Accruing
  
Nonaccrual
  
Total
 
Construction, land development and other land loans
 
$
-
  
$
3,086
  
$
3,086
 
Secured by 1-4 family residential properties
  
1,477
   
3,605
   
5,082
 
Secured by nonfarm, nonresidential properties
  
834
   
1,121
   
1,955
 
Other loans secured by real estate
  
-
   
149
   
149
 
Commercial and industrial
  
-
   
511
   
511
 
Total Troubled Debt Restructurings by Type
 
$
2,311
  
$
8,472
  
$
10,783
 
 
 
  
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
 
Carrying amount of loans by credit quality indicator
The tables below illustrate the carrying amount of LHFI by credit quality indicator at March 31, 2015 and December 31, 2014 ($ in thousands):
 
     
March 31, 2015
 
  
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
 
$
581,894
  
$
554
  
$
41,551
  
$
464
  
$
624,463
 
Secured by 1-4 family residential properties
  
124,564
   
477
   
6,513
   
283
   
131,837
 
Secured by nonfarm, nonresidential properties
  
1,449,377
   
993
   
65,687
   
-
   
1,516,057
 
Other real estate secured
  
225,962
   
276
   
5,133
   
-
   
231,371
 
Commercial and industrial loans
  
1,197,042
   
2,654
   
28,432
   
653
   
1,228,781
 
Consumer loans
  
-
   
-
   
-
   
-
   
-
 
State and other political subdivision loans
  
597,230
   
7,550
   
9,550
   
-
   
614,330
 
Other loans
  
346,369
   
-
   
854
   
418
   
347,641
 
    Total 
$
4,522,438
  
$
12,504
  
$
157,720
  
$
1,818
  
$
4,694,480
 
 
 
  
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
 
$
66,852
  
$
220
  
$
-
  
$
122
  
$
67,194
  
$
691,657
 
Secured by 1-4 family residential properties
  
1,451,991
   
8,601
   
1,207
   
20,357
   
1,482,156
   
1,613,993
 
Secured by nonfarm, nonresidential properties
  
838
   
-
   
-
   
-
   
838
   
1,516,895
 
Other real estate secured
  
1,948
   
3
   
-
   
-
   
1,951
   
233,322
 
Commercial and industrial loans
  
3
   
4
   
-
   
-
   
7
   
1,228,788
 
Consumer loans
  
160,882
   
391
   
167
   
95
   
161,535
   
161,535
 
State and other political subdivision loans
  
-
   
-
   
-
   
-
   
-
   
614,330
 
Other loans
  
4,483
   
1,193
   
39
   
-
   
5,715
   
353,356
 
    Total 
$
1,686,997
  
$
10,412
  
$
1,413
  
$
20,574
  
$
1,719,396
  
$
6,413,876
 
 
 
          
December 31, 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
 
$
518,944
  
$
479
  
$
37,022
  
$
196
  
$
556,641
 
Secured by 1-4 family residential properties
  
125,203
   
1,652
   
7,483
   
213
   
134,551
 
Secured by nonfarm, nonresidential properties
  
1,462,226
   
8,431
   
81,661
   
-
   
1,552,318
 
Other real estate secured
  
246,099
   
306
   
4,975
   
-
   
251,380
 
Commercial and industrial loans
  
1,239,247
   
4,245
   
26,133
   
719
   
1,270,344
 
Consumer loans
  
-
   
-
   
-
   
-
   
-
 
State and other political subdivision loans
  
589,653
   
7,550
   
5,524
   
-
   
602,727
 
Other loans
  
338,598
   
-
   
1,255
   
564
   
340,417
 
    Total 
$
4,519,970
  
$
22,663
  
$
164,053
  
$
1,692
  
$
4,708,378
 
 
 
  
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
 
$
62,897
  
$
199
  
$
59
  
$
81
  
$
63,236
  
$
619,877
 
Secured by 1-4 family residential properties
  
1,465,355
   
10,429
   
2,367
   
21,695
   
1,499,846
   
1,634,397
 
Secured by nonfarm, nonresidential properties
  
875
   
-
   
-
   
-
   
875
   
1,553,193
 
Other real estate secured
  
2,407
   
-
   
-
   
-
   
2,407
   
253,787
 
Commercial and industrial loans
  
-
   
5
   
1
   
-
   
6
   
1,270,350
 
Consumer loans
  
165,504
   
2,162
   
211
   
87
   
167,964
   
167,964
 
State and other political subdivision loans
  
-
   
-
   
-
   
-
   
-
   
602,727
 
Other loans
  
6,757
   
-
   
-
   
-
   
6,757
   
347,174
 
    Total 
$
1,703,795
  
$
12,795
  
$
2,638
  
$
21,863
  
$
1,741,091
  
$
6,449,469
 
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 March 31, 2015 and December 31, 2014 ($ in thousands):
 
  
March 31, 2015
 
  
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
 
$
320
  
$
1,086
  
$
-
  
$
1,406
  
$
20,134
  
$
670,117
  
$
691,657
 
Secured by 1-4 family residential properties
  
7,872
   
1,889
   
1,207
   
10,968
   
23,620
   
1,579,405
   
1,613,993
 
Secured by nonfarm, nonresidential properties
  
1,640
   
795
   
-
   
2,435
   
17,887
   
1,496,573
   
1,516,895
 
Other real estate secured
  
83
   
-
   
-
   
83
   
723
   
232,516
   
233,322
 
Commercial and industrial loans
  
947
   
88
   
-
   
1,035
   
14,057
   
1,213,696
   
1,228,788
 
Consumer loans
  
230
   
161
   
167
   
558
   
96
   
160,881
   
161,535
 
State and other political subdivision loans
  
-
   
-
   
-
   
-
   
-
   
614,330
   
614,330
 
Other loans
  
1,379
   
116
   
39
   
1,534
   
491
   
351,331
   
353,356
 
Total
 
$
12,471
  
$
4,135
  
$
1,413
  
$
18,019
  
$
77,008
  
$
6,318,849
  
$
6,413,876
 
 
(1) Past due 90 days or more but still accruing interest.
 
 December 31, 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
 
$
248
  
$
17
  
$
60
  
$
325
  
$
13,867
  
$
605,685
  
$
619,877
 
Secured by 1-4 family residential properties
  
8,424
   
2,428
   
2,367
   
13,219
   
25,621
   
1,595,557
   
1,634,397
 
Secured by nonfarm, nonresidential properties
  
1,960
   
34
   
-
   
1,994
   
25,717
   
1,525,482
   
1,553,193
 
Other real estate secured
  
80
   
-
   
-
   
80
   
1,318
   
252,389
   
253,787
 
Commercial and industrial loans
  
2,491
   
306
   
126
   
2,923
   
12,104
   
1,255,323
   
1,270,350
 
Consumer loans
  
1,811
   
351
   
211
   
2,373
   
88
   
165,503
   
167,964
 
State and other political subdivision loans
  
-
   
-
   
-
   
-
   
-
   
602,727
   
602,727
 
Other loans
  
132
   
9
   
-
   
141
   
628
   
346,405
   
347,174
 
Total
 
$
15,146
  
$
3,145
  
$
2,764
  
$
21,055
  
$
79,343
  
$
6,349,071
  
$
6,449,469
 
 
(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):

  
Three Months Ended March 31,
 
  
2015
  
2014
 
Balance at beginning of period
 
$
69,616
  
$
66,448
 
Loans charged-off
  
(3,004
)
  
(3,016
)
Recoveries
  
2,924
   
4,891
 
Net (charge-offs) recoveries
  
(80
)
  
1,875
 
Provision for loan losses, LHFI
  
1,785
   
(805
)
Balance at end of period
 
$
71,321
  
$
67,518
 
 
The following tables detail the balance in the allowance for loan losses, LHFI by portfolio segment at March 31, 2015 and 2014 ($ in thousands):
 
  
2015
 
  
Balance
January 1,
  
Charge-offs
  
Recoveries
  
Provision for
Loan Losses
  
Balance
March 31,
 
Loans secured by real estate:
          
Construction, land development and other land
 
$
13,073
  
$
(9
)
 
$
240
  
$
2,969
  
$
16,273
 
Secured by 1-4 family residential properties
  
9,677
   
(434
)
  
43
   
(402
)
  
8,884
 
Secured by nonfarm, nonresidential properties
  
18,523
   
-
   
315
   
15
   
18,853
 
Other real estate secured
  
2,141
   
(24
)
  
3
   
(42
)
  
2,078
 
Commercial and industrial loans
  
19,917
   
(669
)
  
342
   
487
   
20,077
 
Consumer loans
  
2,149
   
(498
)
  
937
   
(627
)
  
1,961
 
State and other political subdivision loans
  
1,314
   
-
   
-
   
(627
)
  
687
 
Other loans
  
2,822
   
(1,370
)
  
1,044
   
12
   
2,508
 
Total allowance for loan losses, LHFI
 
$
69,616
  
$
(3,004
)
 
$
2,924
  
$
1,785
  
$
71,321
 
 
 
  
Disaggregated by Impairment Method
 
  
Individually
  
Collectively
  
Total
 
Loans secured by real estate:
      
Construction, land development and other land
 
$
4,097
  
$
12,176
  
$
16,273
 
Secured by 1-4 family residential properties
  
429
   
8,455
   
8,884
 
Secured by nonfarm, nonresidential properties
  
2,728
   
16,125
   
18,853
 
Other real estate secured
  
51
   
2,027
   
2,078
 
Commercial and industrial loans
  
6,502
   
13,575
   
20,077
 
Consumer loans
  
-
   
1,961
   
1,961
 
State and other political subdivision loans
  
-
   
687
   
687
 
Other loans
  
209
   
2,299
   
2,508
 
Total allowance for loan losses, LHFI
 
$
14,016
  
$
57,305
  
$
71,321
 
 
 
  
2014
 
  
Balance
January 1,
  
Charge-offs
  
Recoveries
  
Provision for
Loan Losses
  
Balance
March 31,
 
Loans secured by real estate:
          
Construction, land development and other land
 
$
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 real estate secured
  
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
 
State and other political subdivisions loans
  
1,205
   
-
   
-
   
261
   
1,466
 
Other loans
  
2,766
   
(1,007
)
  
926
   
(33
)
  
2,652
 
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
 
$
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 real estate secured
  
121
   
1,983
   
2,104
 
Commercial and industrial loans
  
2,111
   
16,969
   
19,080
 
Consumer loans
  
1
   
2,052
   
2,053
 
State and other political subdivisions loans
  
-
   
1,466
   
1,466
 
Other loans
  
267
   
2,385
   
2,652
 
Total allowance for loan losses, LHFI
 
$
5,541
  
$
61,977
  
$
67,518