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Loans and the Allowance for Loan Losses (Tables)
 6 Months Ended
Jun. 30, 2016
Business Acquisition [Line Items]  
Fair value of loans determined to be impaired and not to be impaired at the time of acquisition
The following table presents the fair value of loans determined to be impaired at the time of acquisition and determined not to be impaired at the time of acquisition at June 30, 2016:
 
 
Covered
Loans
 
Not
Covered
Loans
 
Total
Contractually-required principal and interest
$
35,175

 
$
410,756

 
$
445,931

Nonaccretable difference(1)
(4,539
)
 
(79,250
)
 
(83,789
)
Cash flows expected to be collected
30,636

 
331,506

 
362,142

Accretable yield(2)
(2,231
)
 
(41,952
)
 
(44,183
)
Fair value
$
28,405

 
$
289,554

 
$
317,959

 
(1)
Represents contractual principal and interest cash flows of $79,942 and $35, respectively, not expected to be collected.
(2)
Represents contractual interest payments of $1,727 expected to be collected and purchase discount of $42,456.
Impaired loans
Loans accounted for under FASB Accounting Standards Codification Topic (“ASC”) 310-20, “Nonrefundable Fees and Other Cost” (“ASC 310-20”), and which are impaired loans recognized in conformity with ASC 310, “Receivables” (“ASC 310”), segregated by class, were as follows as of the dates presented:
 
 
Unpaid
Contractual
Principal
Balance
 
Recorded
Investment
With
Allowance
 
Recorded
Investment
With No
Allowance
 
Total
Recorded
Investment
 
Related
Allowance
June 30, 2016
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,306

 
$
1,295

 
$
—

 
$
1,295

 
$
164

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
167

 
—

 
167

 
167

 
—

Real estate – 1-4 family mortgage
19,033

 
17,673

 
—

 
17,673

 
4,924

Real estate – commercial mortgage
16,872

 
13,285

 
—

 
13,285

 
2,531

Installment loans to individuals
78

 
78

 
—

 
78

 
—

Total
$
37,456

 
$
32,331

 
$
167

 
$
32,498

 
$
7,619

December 31, 2015
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,308

 
$
358

 
$
12

 
$
370

 
$
6

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
2,710

 
2,698

 
—

 
2,698

 
20

Real estate – 1-4 family mortgage
18,193

 
16,650

 
—

 
16,650

 
4,475

Real estate – commercial mortgage
20,169

 
16,819

 
—

 
16,819

 
3,099

Installment loans to individuals
90

 
90

 
—

 
90

 
—

Totals
$
42,470

 
$
36,615

 
$
12

 
$
36,627

 
$
7,600
Investment and interest income recognized on impaired loans
The following table presents the average recorded investment and interest income recognized on loans accounted for under ASC 310-20 and which are impaired loans for the periods presented:

 
Three Months Ended
 
Three Months Ended
 
June 30, 2016
 
June 30, 2015
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
1,470

 
$
23

 
$
785

 
$
7

Lease financing
—

 
—

 
—

 
—

Real estate – construction
117

 
2

 
—

 
—

Real estate – 1-4 family mortgage
17,800

 
128

 
17,712

 
140

Real estate – commercial mortgage
14,164

 
126

 
24,683

 
185

Installment loans to individuals
79

 
1

 
437

 
—

Total
$
33,630

 
$
280

 
$
43,617

 
$
332

 
Six Months Ended
 
Six Months Ended
 
June 30, 2016
 
June 30, 2015
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
1,506

 
$
25

 
$
803

 
$
14

Lease financing
—

 
—

 
—

 
—

Real estate – construction
58

 
2

 
—

 
—

Real estate – 1-4 family mortgage
18,049

 
209

 
17,869

 
207

Real estate – commercial mortgage
14,460

 
240

 
25,212

 
363

Installment loans to individuals
80

 
1

 
441

 
—

Total
$
34,153

 
$
477

 
$
44,325

 
$
584
Summary of loans
The following is a summary of loans as of the dates presented:
 
 
June 30,
2016
 
December 31, 2015
Commercial, financial, agricultural
$
682,936

 
$
636,837

Lease financing
44,989

 
35,978

Real estate – construction
452,731

 
357,665

Real estate – 1-4 family mortgage
1,849,046

 
1,735,323

Real estate – commercial mortgage
2,823,676

 
2,533,729

Installment loans to individuals
113,924

 
115,093

Gross loans
5,967,302

 
5,414,625

Unearned income
(1,873
)
 
(1,163
)
Loans, net of unearned income
5,965,429

 
5,413,462

Allowance for loan losses
(44,098
)
 
(42,437
)
Net loans
$
5,921,331

 
$
5,371,025
Past due and nonaccrual loans
The following table provides an aging of past due and nonaccrual loans, segregated by class, as of the dates presented:
 
 
Accruing Loans
 
Nonaccruing Loans
 
 
 
30-89 Days
Past Due
 
90 Days
or More
Past Due
 
Current
Loans
 
Total
Loans
 
30-89 Days
Past Due
 
90 Days
or More
Past Due
 
Current
Loans
 
Total
Loans
 
Total
Loans
June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,337

 
$
1,466

 
$
678,795

 
$
681,598

 
$
—

 
$
758

 
$
580

 
$
1,338

 
$
682,936

Lease financing
—

 
—

 
44,989

 
44,989

 
—

 
—

 
—

 
—

 
44,989

Real estate – construction
1,482

 
675

 
450,574

 
452,731

 
—

 
—

 
—

 
—

 
452,731

Real estate – 1-4 family mortgage
8,736

 
5,926

 
1,823,323

 
1,837,985

 
180

 
3,218

 
7,663

 
11,061

 
1,849,046

Real estate – commercial mortgage
7,802

 
8,813

 
2,793,656

 
2,810,271

 
2,133

 
3,229

 
8,043

 
13,405

 
2,823,676

Installment loans to individuals
291

 
274

 
113,199

 
113,764

 
—

 
37

 
123

 
160

 
113,924

Unearned income
—

 
—

 
(1,873
)
 
(1,873
)
 
—

 
—

 
—

 
—

 
(1,873
)
Total
$
19,648

 
$
17,154

 
$
5,902,663

 
$
5,939,465

 
$
2,313

 
$
7,242

 
$
16,409

 
$
25,964

 
$
5,965,429

December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,296

 
$
1,077

 
$
634,037

 
$
636,410

 
$
30

 
$
133

 
$
264

 
$
427

 
$
636,837

Lease financing
—

 
—

 
35,978

 
35,978

 
—

 
—

 
—

 
—

 
35,978

Real estate – construction
69

 
176

 
357,420

 
357,665

 
—

 
—

 
—

 
—

 
357,665

Real estate – 1-4 family mortgage
9,196

 
6,457

 
1,707,230

 
1,722,883

 
528

 
3,663

 
8,249

 
12,440

 
1,735,323

Real estate – commercial mortgage
4,849

 
8,581

 
2,504,192

 
2,517,622

 
568

 
2,263

 
13,276

 
16,107

 
2,533,729

Installment loans to individuals
260

 
102

 
114,671

 
115,033

 
—

 
53

 
7

 
60

 
115,093

Unearned income
—

 
—

 
(1,163
)
 
(1,163
)
 
—

 
—

 
—

 
—

 
(1,163
)
Total
$
15,670

 
$
16,393

 
$
5,352,365

 
$
5,384,428

 
$
1,126

 
$
6,112

 
$
21,796

 
$
29,034

 
$
5,413,462
Restructured loans
The following tables illustrate the impact of modifications classified as restructured loans and are segregated by class for the periods presented:
 
 
Number of
Loans
 
Pre-
Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
Three months ended June 30, 2016
 
 
 
 
 
Commercial, financial, agricultural
—

 
$
—

 
$
—

Lease financing
—

 
—

 
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
5

 
824

 
809

Real estate – commercial mortgage
—

 
—

 
—

Installment loans to individuals
—

 
—

 
—

Total
5

 
$
824

 
$
809

Three months ended June 30, 2015
 
 
 
 
 
Commercial, financial, agricultural
—

 
$
—

 
$
—

Lease financing
—

 
—

 
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
12

 
1,495

 
1,479

Real estate – commercial mortgage
1

 
66

 
58

Installment loans to individuals
—

 
—

 
—

Total
13

 
$
1,561

 
$
1,537


 
Number of
Loans
 
Pre-
Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
Six months ended June 30, 2016
 
 
 
 
 
Commercial, financial, agricultural
—

 
$
—

 
$
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
15

 
1,488

 
1,353

Real estate – commercial mortgage
2

 
612

 
606

Installment loans to individuals
—

 
—

 
—

Total
17

 
$
2,100

 
$
1,959

Six months ended June 30, 2015
 
 
 
 
 
Commercial, financial, agricultural
—

 
$
—

 
$
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
27

 
2,641

 
2,470

Real estate – commercial mortgage
7

 
6,391

 
6,047

Installment loans to individuals
—

 
—

 
—

Total
34

 
$
9,032

 
$
8,517
Changes in restructured loans
Changes in the Company’s restructured loans are set forth in the table below:
 
 
Number of
Loans
 
Recorded
Investment
Totals at January 1, 2016
85

 
$
13,453

Additional loans with concessions
18

 
2,114

Reductions due to:
 
 
 
Reclassified as nonperforming
(2
)
 
(134
)
Paid in full
(13
)
 
(3,069
)
Charge-offs
—

 
—

Transfer to other real estate owned
—

 
—

Principal paydowns
—

 
(757
)
Lapse of concession period
—

 
—

       Reclassified as performing
—

 
—

Totals at June 30, 2016
88

 
$
11,607
Loan portfolio by risk-rating grades
The following table presents the Company’s loan portfolio by risk-rating grades as of the dates presented:
 
 
Pass
 
Watch
 
Substandard
 
Total
June 30, 2016
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
506,028

 
$
7,346

 
$
2,031

 
$
515,405

Lease financing
—

 
—

 
—

 
—

Real estate – construction
359,523

 
1,192

 
167

 
360,882

Real estate – 1-4 family mortgage
297,907

 
9,918

 
12,238

 
320,063

Real estate – commercial mortgage
2,256,451

 
23,078

 
17,482

 
2,297,011

Installment loans to individuals
103

 
—

 
116

 
219

Total
$
3,420,012

 
$
41,534

 
$
32,034

 
$
3,493,580

December 31, 2015
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
465,185

 
$
8,498

 
$
1,734

 
$
475,417

Lease financing
—

 
—

 
—

 
—

Real estate – construction
273,398

 
483

 
—

 
273,881

Real estate – 1-4 family mortgage
275,269

 
9,712

 
15,460

 
300,441

Real estate – commercial mortgage
1,968,352

 
27,175

 
20,683

 
2,016,210

Installment loans to individuals
51

 
—

 
5

 
56

Total
$
2,982,255

 
$
45,868

 
$
37,882

 
$
3,066,005
Loan portfolio not subject to risk rating
The following table presents the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented:
 
 
Performing
 
Non-
Performing
 
Total
June 30, 2016
 
 
 
 
 
Commercial, financial, agricultural
$
153,534

 
$
576

 
$
154,110

Lease financing
43,116

 
—

 
43,116

Real estate – construction
88,189

 
503

 
88,692

Real estate – 1-4 family mortgage
1,440,427

 
2,132

 
1,442,559

Real estate – commercial mortgage
313,543

 
460

 
314,003

Installment loans to individuals
111,132

 
278

 
111,410

Total
$
2,149,941

 
$
3,949

 
$
2,153,890

December 31, 2015
 
 
 
 
 
Commercial, financial, agricultural
$
144,838

 
$
93

 
$
144,931

Lease financing
34,815

 
—

 
34,815

Real estate – construction
81,035

 
—

 
81,035

Real estate – 1-4 family mortgage
1,340,356

 
2,877

 
1,343,233

Real estate – commercial mortgage
294,042

 
867

 
294,909

Installment loans to individuals
112,275

 
94

 
112,369

Total
$
2,007,361

 
$
3,931

 
$
2,011,292
Loans acquired with deteriorated credit quality
Loans acquired in business combinations that exhibited, at the date of acquisition, evidence of deterioration of the credit quality since origination, such that it was probable that all contractually required payments would not be collected, were as follows as of the dates presented:
 
 
Covered
Loans
 
Not
Covered
Loans
 
Total
June 30, 2016
 
 
 
 
 
Commercial, financial, agricultural
$
228

 
$
13,193

 
$
13,421

Lease financing
—

 
—

 
—

Real estate – construction
83

 
3,074

 
3,157

Real estate – 1-4 family mortgage
25,285

 
61,139

 
86,424

Real estate – commercial mortgage
2,774

 
209,888

 
212,662

Installment loans to individuals
35

 
2,260

 
2,295

Total
$
28,405

 
$
289,554

 
$
317,959

December 31, 2015
 
 
 
 
 
Commercial, financial, agricultural
$
1,759

 
$
14,730

 
$
16,489

Lease financing
—

 
—

 
—

Real estate – construction
91

 
2,658

 
2,749

Real estate – 1-4 family mortgage
31,354

 
60,295

 
91,649

Real estate – commercial mortgage
33,726

 
188,884

 
222,610

Installment loans to individuals
43

 
2,625

 
2,668

Total
$
66,973

 
$
269,192

 
$
336,165
Changes in accretable yield of loans acquired with deteriorated credit quality
Changes in the accretable yield of loans acquired with deteriorated credit quality were as follows:
 
 
Covered
Loans
 
Not
Covered
Loans
 
Total
Balance at January 1, 2016
$
(3,590
)
 
$
(44,116
)
 
$
(47,706
)
Additions due to acquisition
725

 
(3,036
)
 
(2,311
)
Reclasses from nonaccretable difference
(663
)
 
(1,571
)
 
(2,234
)
Accretion
1,269

 
5,800

 
7,069

Charge-offs
28

 
971

 
999

Balance at June 30, 2016
$
(2,231
)
 
$
(41,952
)
 
$
(44,183
)
Rollforward of the allowance for loan losses
The following table provides a roll forward of the allowance for loan losses and a breakdown of the ending balance of the allowance based on the Company’s impairment methodology for the periods presented:
 
Commercial
 
Real Estate -
Construction
 
Real Estate -
1-4 Family
Mortgage
 
Real Estate  -
Commercial
Mortgage
 
Installment
and  Other(1)
 
Total
Three Months Ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
4,171

 
$
1,943

 
$
14,542

 
$
20,775

 
$
1,428

 
$
42,859

Charge-offs
(48
)
 
—

 
(387
)
 
(186
)
 
(192
)
 
(813
)
Recoveries
105

 
5

 
170

 
309

 
33

 
622

Net (charge-offs) recoveries
57

 
5

 
(217
)
 
123

 
(159
)
 
(191
)
Provision for loan losses
265

 
315

 
(186
)
 
624

 
146

 
1,164

Benefit attributable to FDIC loss-share agreements
15

 
—

 
(78
)
 
117

 
—

 
54

Recoveries payable to FDIC
4

 
6

 
158

 
44

 
—

 
212

Provision for loan losses charged to operations
284

 
321

 
(106
)
 
785

 
146

 
1,430

Ending balance
$
4,512

 
$
2,269

 
$
14,219

 
$
21,683

 
$
1,415

 
$
44,098

 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
Real Estate -
Construction
 
Real Estate -
1-4 Family
Mortgage
 
Real Estate  -
Commercial
Mortgage
 
Installment
and  Other(1)
 
Total
Six Months Ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
4,186

 
$
1,852

 
$
13,908

 
$
21,111

 
$
1,380

 
$
42,437

Charge-offs
(705
)
 
—

 
(503
)
 
(1,187
)
 
(372
)
 
(2,767
)
Recoveries
158

 
11

 
565

 
401

 
63

 
1,198

Net (charge-offs) recoveries
(547
)
 
11

 
62

 
(786
)
 
(309
)
 
(1,569
)
Provision for loan losses
866

 
400

 
179

 
1,154

 
344

 
2,943

Benefit attributable to FDIC loss-share agreements
—

 
—

 
(115
)
 
(1
)
 
—

 
(116
)
Recoveries payable to FDIC
7

 
6

 
185

 
205

 
—

 
403

Provision for loan losses charged to operations
873

 
406

 
249

 
1,358

 
344

 
3,230

Ending balance
$
4,512

 
$
2,269

 
$
14,219

 
$
21,683

 
$
1,415

 
$
44,098

Period-End Amount Allocated to:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
164

 
$
—

 
$
4,924

 
$
2,531

 
$
—

 
$
7,619

Collectively evaluated for impairment
3,947

 
2,269

 
8,951

 
17,726

 
1,414

 
34,307

Acquired with deteriorated credit quality
401

 
—

 
344

 
1,426

 
1

 
2,172

Ending balance
$
4,512

 
$
2,269

 
$
14,219

 
$
21,683

 
$
1,415

 
$
44,098


 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
Real Estate -
Construction
 
Real Estate -
1-4 Family
Mortgage
 
Real Estate  -
Commercial
Mortgage
 
Installment
and  Other(1)
 
Total
Three Months Ended June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
4,109

 
$
1,359

 
$
14,045

 
$
21,508

 
$
1,281

 
$
42,302

Charge-offs
(123
)
 
(26
)
 
(869
)
 
(1,224
)
 
(56
)
 
(2,298
)
Recoveries
104

 
7

 
215

 
357

 
26

 
709

Net charge-offs
(19
)
 
(19
)
 
(654
)
 
(867
)
 
(30
)
 
(1,589
)
Provision for loan losses
(96
)
 
(43
)
 
(130
)
 
1,078

 
30

 
839

Benefit attributable to FDIC loss-share agreements
(30
)
 
—

 
(43
)
 
(385
)
 
—

 
(458
)
Recoveries payable to FDIC
7

 
—

 
574

 
213

 
—

 
794

Provision for loan losses charged to operations
(119
)
 
(43
)
 
401

 
906

 
30

 
1,175

Ending balance
$
3,971

 
$
1,297

 
$
13,792

 
$
21,547

 
$
1,281

 
$
41,888

 
 
 
 
 
 
 
 
 
 
 
 

 
Commercial
 
Real Estate -
Construction
 
Real Estate -
1-4 Family
Mortgage
 
Real Estate  -
Commercial
Mortgage
 
Installment
and  Other(1)
 
Total
Six Months Ended June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
3,305

 
$
1,415

 
$
13,549

 
$
22,759

 
$
1,261

 
$
42,289

Charge-offs
(358
)
 
(26
)
 
(1,354
)
 
(1,857
)
 
(106
)
 
(3,701
)
Recoveries
139

 
13

 
370

 
469

 
59

 
1,050

Net charge-offs
(219
)
 
(13
)
 
(984
)
 
(1,388
)
 
(47
)
 
(2,651
)
Provision for loan losses
931

 
(106
)
 
488

 
191

 
67

 
1,571

Benefit attributable to FDIC loss-share agreements
(55
)
 
—

 
(43
)
 
(486
)
 
—

 
(584
)
Recoveries payable to FDIC
9

 
1

 
782

 
471

 
—

 
1,263

Provision for loan losses charged to operations
885

 
(105
)
 
1,227

 
176

 
67

 
2,250

Ending balance
$
3,971

 
$
1,297

 
$
13,792

 
$
21,547

 
$
1,281

 
$
41,888

Period-End Amount Allocated to:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
—

 
$
—

 
$
4,125

 
$
1,566

 
$
211

 
$
5,902

Collectively evaluated for impairment
3,609

 
1,297

 
9,478

 
19,121

 
1,069

 
34,574

Acquired with deteriorated credit quality
362

 
—

 
189

 
860

 
1

 
1,412

Ending balance
$
3,971

 
$
1,297

 
$
13,792

 
$
21,547

 
$
1,281

 
$
41,888



(1)
Includes lease financing receivables.
Investment in loans, net of unearned income on impairment methodology
The following table provides the recorded investment in loans, net of unearned income, based on the Company’s impairment methodology as of the dates presented:
 
 
Commercial
 
Real Estate  -
Construction
 
Real Estate -
1-4 Family
Mortgage
 
Real Estate  -
Commercial
Mortgage
 
Installment
and  Other(1)
 
Total
June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
1,295

 
$
167

 
$
17,673

 
$
13,285

 
$
78

 
$
32,498

Collectively evaluated for impairment
668,220

 
449,407

 
1,744,949

 
2,597,729

 
154,667

 
5,614,972

Acquired with deteriorated credit quality
13,421

 
3,157

 
86,424

 
212,662

 
2,295

 
317,959

Ending balance
$
682,936

 
$
452,731

 
$
1,849,046

 
$
2,823,676

 
$
157,040

 
$
5,965,429

December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
370

 
$
2,698

 
$
16,650

 
$
16,819

 
$
90

 
$
36,627

Collectively evaluated for impairment
619,978

 
352,218

 
1,627,024

 
2,294,300

 
147,150

 
5,040,670

Acquired with deteriorated credit quality
16,489

 
2,749

 
91,649

 
222,610

 
2,668

 
336,165

Ending balance
$
636,837

 
$
357,665

 
$
1,735,323

 
$
2,533,729

 
$
149,908

 
$
5,413,462

 
(1)
Includes lease financing receivables.
Receivables Acquired with Deteriorated Credit Quality  
Business Acquisition [Line Items]  
Impaired loans
Loans accounted for under ASC 310-30, “Loans and Debt Securities Acquired with Deteriorated Credit Quality” (“ASC 310-30”), and which are impaired loans recognized in conformity with ASC 310, segregated by class, were as follows as of the dates presented:
 
 
Unpaid
Contractual
Principal
Balance
 
Recorded
Investment
With
Allowance
 
Recorded
Investment
With No
Allowance
 
Total
Recorded
Investment
 
Related
Allowance
June 30, 2016
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
23,495

 
$
4,222

 
$
9,199

 
$
13,421

 
$
401

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
3,587

 
—

 
3,157

 
3,157

 
—

Real estate – 1-4 family mortgage
103,248

 
17,677

 
68,747

 
86,424

 
344

Real estate – commercial mortgage
269,205

 
57,800

 
154,862

 
212,662

 
1,426

Installment loans to individuals
2,989

 
413

 
1,882

 
2,295

 
1

Total
$
402,524

 
$
80,112

 
$
237,847

 
$
317,959

 
$
2,172

December 31, 2015
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
27,049

 
$
5,197

 
$
11,292

 
$
16,489

 
$
353

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
2,916

 
—

 
2,749

 
2,749

 
—

Real estate – 1-4 family mortgage
109,293

 
15,702

 
75,947

 
91,649

 
256

Real estate – commercial mortgage
287,821

 
53,762

 
168,848

 
222,610

 
1,096

Installment loans to individuals
3,432

 
400

 
2,268

 
2,668

 
1

Totals
$
430,511

 
$
75,061

 
$
261,104

 
$
336,165

 
$
1,706
Investment and interest income recognized on impaired loans
The following table presents the average recorded investment and interest income recognized on loans accounted for under ASC 310-30 and which are impaired loans for the periods presented:

 
Three Months Ended
 
Three Months Ended
 
June 30, 2016
 
June 30, 2015
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
16,361

 
$
287

 
$
12,651

 
$
81

Lease financing
—

 
—

 
—

 
—

Real estate – construction
3,562

 
39

 
—

 
—

Real estate – 1-4 family mortgage
98,200

 
1,083

 
81,492

 
889

Real estate – commercial mortgage
239,564

 
2,903

 
222,127

 
2,664

Installment loans to individuals
2,705

 
29

 
3,605

 
32

Total
$
360,392

 
$
4,341

 
$
319,875

 
$
3,666


 
Six Months Ended
 
Six Months Ended
 
June 30, 2016
 
June 30, 2015
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
16,872

 
$
611

 
$
12,672

 
$
314

Lease financing
—

 
—

 
—

 
—

Real estate – construction
3,572

 
65

 
—

 
—

Real estate – 1-4 family mortgage
98,874

 
2,030

 
81,541

 
1,932

Real estate – commercial mortgage
240,254

 
5,593

 
222,403

 
5,535

Installment loans to individuals
2,776

 
56

 
3,608

 
77

Total
$
362,348

 
$
8,355

 
$
320,224

 
$
7,858
Heritage Financial Group  
Business Acquisition [Line Items]  
Fair value of loans determined to be impaired and not to be impaired at the time of acquisition
The following table presents the fair value of loans acquired from Heritage as of the July 1, 2015 acquisition date.
At acquisition date:
 
July 1, 2015
  Contractually-required principal and interest
 
$
1,216,173

  Nonaccretable difference
 
14,260

  Cash flows expected to be collected
 
1,201,913

  Accretable yield
 
71,843

      Fair value
 
$
1,130,070
KeyWorth Bank  
Business Acquisition [Line Items]  
Fair value of loans determined to be impaired and not to be impaired at the time of acquisition
The following table presents the fair value of loans acquired from KeyWorth as of the April 1, 2016 acquisition date.
At acquisition date:
 
April 1, 2016
  Contractually-required principal and interest
 
$
289,495

  Nonaccretable difference
 
3,848

  Cash flows expected to be collected
 
285,647

  Accretable yield
 
13,317

      Fair value
 
$
272,330