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

6 Months Ended

Jun. 30, 2015

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

At June 30, 2015 and December 31, 2014, LHFI consisted of the following ($ in thousands):

	June 30, 2015		December 31, 2014
Loans secured by real estate:
Construction, land development and other land	$	682,444	$	619,877
Secured by 1-4 family residential properties		1,637,933		1,634,397
Secured by nonfarm, nonresidential properties		1,567,035		1,553,193
Other real estate secured		240,056		253,787
Commercial and industrial loans		1,219,684		1,270,350
Consumer loans		165,215		167,964
State and other political subdivision loans		574,265		602,727
Other loans		360,441		347,174
LHFI		6,447,073		6,449,469
Less allowance for loan losses, LHFI		71,166		69,616
Net LHFI	$	6,375,907	$	6,379,853

Summary of LHFI evaluated for impairment

The following tables detail LHFI individually and collectively evaluated for impairment at June 30, 2015 and December 31, 2014 ($ in thousands):

	June 30, 2015
	LHFI Evaluated for Impairment
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land	$	10,888	$	671,556	$	682,444
Secured by 1-4 family residential properties		24,882		1,613,051		1,637,933
Secured by nonfarm, nonresidential properties		19,030		1,548,005		1,567,035
Other real estate secured		610		239,446		240,056
Commercial and industrial loans		12,411		1,207,273		1,219,684
Consumer loans		44		165,171		165,215
State and other political subdivision loans		-		574,265		574,265
Other loans		573		359,868		360,441
Total	$	68,438	$	6,378,635	$	6,447,073

	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 June 30, 2015 and December 31, 2014, the carrying amount of LHFI individually evaluated for impairment consisted of the following ($ in thousands):

	June 30, 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	$	17,580	$	4,918	$	5,970	$	10,888	$	3,007	$	12,378
Secured by 1-4 family residential properties		30,483		1,291		23,591		24,882		469		25,251
Secured by nonfarm, nonresidential properties		20,663		6,727		12,303		19,030		3,295		22,373
Other real estate secured		704		-		610		610		46		964
Commercial and industrial loans		13,290		1,428		10,983		12,411		7,196		12,258
Consumer loans		86		-		44		44		-		66
State and other political subdivision loans		-		-		-		-		-		-
Other loans		694		-		573		573		207		601
Total	$	83,500	$	14,364	$	54,074	$	68,438	$	14,220	$	73,891

	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 tables illustrate 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 periods presented ($ in thousands):

	Three Months Ended June 30,
	2015						2014
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	$	82	$	82		4	$	278	$	273
Secured by nonfarm, nonresidential properties		4		3,512		3,512		-		-		-
Total		6	$	3,594	$	3,594		4	$	278	$	273

	Six Months Ended June 30,
	2015						2014
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		8	$	460	$	460		14	$	981	$	967
Secured by nonfarm, nonresidential properties		4		3,512		3,512		-		-		-
Total		12	$	3,972	$	3,972		14	$	981	$	967

Troubled debt restructuring subsequently defaulted

	Six Months Ended June 30,
	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		4	$	245		1	$	108

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 at June 30, 2015 and 2014 ($ in thousands):

	June 30, 2015
	Accruing		Nonaccrual		Total
Construction, land development and other land loans	$	-	$	1,664	$	1,664
Secured by 1-4 family residential properties		1,635		2,795		4,430
Secured by nonfarm, nonresidential properties		828		4,584		5,412
Other loans secured by real estate		-		62		62
Commercial and industrial		-		495		495
Total Troubled Debt Restructurings by Type	$	2,463	$	9,600	$	12,063

	June 30, 2014
	Accruing		Nonaccrual		Total
Construction, land development and other land loans	$	-	$	4,521	$	4,521
Secured by 1-4 family residential properties		1,543		3,873		5,416
Secured by nonfarm, nonresidential properties		-		1,979		1,979
Other loans secured by real estate		-		159		159
Commercial and industrial		-		531		531
Total Troubled Debt Restructurings by Type	$	1,543	$	11,063	$	12,606

Carrying amount of loans by credit quality indicator

The tables below illustrate the carrying amount of LHFI by credit quality indicator at June 30, 2015 and December 31, 2014 ($ in thousands):

	June 30, 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		$	587,766	$	548	$	30,090	$	458	$	618,862
Secured by 1-4 family residential properties			125,262		845		8,097		126		134,330
Secured by nonfarm, nonresidential properties			1,499,458		1,268		65,107		361		1,566,194
Other real estate secured			233,130		255		4,874		-		238,259
Commercial and industrial loans			1,174,226		9,825		35,050		583		1,219,684
Consumer loans			-		-		-		-		-
State and other political subdivision loans			558,055		7,000		9,210		-		574,265
Other loans			351,708		-		987		428		353,123
Total		$	4,529,605	$	19,741	$	153,415	$	1,956	$	4,704,717

	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	$	63,093	$	460	$	-	$	29	$	63,582	$	682,444
Secured by 1-4 family residential properties		1,470,417		10,493		1,515		21,178		1,503,603		1,637,933
Secured by nonfarm, nonresidential properties		841		-		-		-		841		1,567,035
Other real estate secured		1,797		-		-		-		1,797		240,056
Commercial and industrial loans		-		-		-		-		-		1,219,684
Consumer loans		163,495		1,421		256		43		165,215		165,215
State and other political subdivision loans		-		-		-		-		-		574,265
Other loans		7,318		-		-		-		7,318		360,441
Total	$	1,706,961	$	12,374	$	1,771	$	21,250	$	1,742,356	$	6,447,073

	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 June 30, 2015 and December 31, 2014 ($ in thousands):

	June 30, 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	$	643	$	48	$	-	$	691	$	10,888	$	670,865	$	682,444
Secured by 1-4 family residential properties		7,750		3,594		1,515		12,859		24,882		1,600,192		1,637,933
Secured by nonfarm, nonresidential properties		534		94		-		628		19,030		1,547,377		1,567,035
Other real estate secured		-		-		-		-		610		239,446		240,056
Commercial and industrial loans		1,226		645		-		1,871		12,411		1,205,402		1,219,684
Consumer loans		1,213		208		256		1,677		44		163,494		165,215
State and other political subdivision loans		-		-		-		-		-		574,265		574,265
Other loans		305		-		-		305		573		359,563		360,441
Total	$	11,671	$	4,589	$	1,771	$	18,031	$	68,438	$	6,360,604	$	6,447,073

(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):

	Six Months Ended June 30,
	2015			2014
Balance at beginning of period	$	69,616		$	66,448
Loans charged-off		(7,282	)		(6,836	)
Recoveries		6,014			7,490
Net (charge-offs) recoveries		(1,268	)		654
Provision for loan losses, LHFI		2,818			(454	)
Balance at end of period	$	71,166		$	66,648

The following tables detail the balance in the allowance for loan losses, LHFI by portfolio segment at June 30, 2015 and 2014 ($ in thousands):

	2015
	Balance January 1,		Charge-offs			Recoveries		Provision for Loan Losses			Balance June 30,
Loans secured by real estate:
Construction, land development and other land	$	13,073	$	(928	)	$	350	$	1,418		$	13,913
Secured by 1-4 family residential properties		9,677		(1,195	)		106		229			8,817
Secured by nonfarm, nonresidential properties		18,523		(158	)		392		(292	)		18,465
Other real estate secured		2,141		(24	)		3		(160	)		1,960
Commercial and industrial loans		19,917		(1,256	)		1,432		2,715			22,808
Consumer loans		2,149		(1,012	)		1,897		(1,150	)		1,884
State and other political subdivision loans		1,314		-			-		(713	)		601
Other loans		2,822		(2,709	)		1,834		771			2,718
Total allowance for loan losses, LHFI	$	69,616	$	(7,282	)	$	6,014	$	2,818		$	71,166

	Disaggregated by Impairment Method
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land	$	3,007	$	10,906	$	13,913
Secured by 1-4 family residential properties		469		8,348		8,817
Secured by nonfarm, nonresidential properties		3,295		15,170		18,465
Other real estate secured		46		1,914		1,960
Commercial and industrial loans		7,196		15,612		22,808
Consumer loans		-		1,884		1,884
State and other political subdivision loans		-		601		601
Other loans		207		2,511		2,718
Total allowance for loan losses, LHFI	$	14,220	$	56,946	$	71,166

	2014
	Balance January 1,		Charge-offs			Recoveries		Provision for Loan Losses			Balance June 30,
Loans secured by real estate:
Construction, land development and other land loans	$	13,165	$	(76	)	$	3,217	$	(5,271	)	$	11,035
Secured by 1-4 family residential properties		9,633		(1,634	)		255		2,200			10,454
Secured by nonfarm, nonresidential properties		19,672		(240	)		94		(942	)		18,584
Other real estate secured		2,080		(262	)		-		645			2,463
Commercial and industrial loans		15,522		(1,656	)		286		2,788			16,940
Consumer loans		2,405		(883	)		1,973		(1,161	)		2,334
State and other political subdivision loans		1,205		-			-		701			1,906
Other loans		2,766		(2,085	)		1,665		586			2,932
Total allowance for loan losses, LHFI	$	66,448	$	(6,836	)	$	7,490	$	(454	)	$	66,648

	Disaggregated by Impairment Method
	Individually		Collectively		Total
Loans secured by real estate:
Construction, land development and other land loans	$	2,895	$	8,140	$	11,035
Secured by 1-4 family residential properties		308		10,146		10,454
Secured by nonfarm, nonresidential properties		1,642		16,942		18,584
Other real estate secured		53		2,410		2,463
Commercial and industrial loans		884		16,056		16,940
Consumer loans		-		2,334		2,334
State and other political subdivision loans		-		1,906		1,906
Other loans		259		2,673		2,932
Total allowance for loan losses, LHFI	$	6,041	$	60,607	$	66,648