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Non Purchased Loans (Tables)
 12 Months Ended
Dec. 31, 2016
Receivables [Abstract]  
Summary of loans
The following is a summary of non purchased loans and leases at December 31: 
 
2016
 
2015
Commercial, financial, agricultural
$
589,290

 
$
485,407

Lease financing
49,250

 
35,978

Real estate – construction
483,926

 
291,701

Real estate – 1-4 family mortgage
1,425,730

 
1,204,228

Real estate – commercial mortgage
2,075,137

 
1,729,049

Installment loans to individuals
92,648

 
85,234

Gross loans
4,715,981

 
3,831,597

Unearned income
(2,409
)
 
(1,163
)
Loans, net of unearned income
4,713,572

 
3,830,434

The following is a summary of purchased loans at December 31: 
 
2016
 
2015
Commercial, financial, agricultural
$
128,200

 
$
151,430

Lease financing
—

 
—

Real estate – construction
68,753

 
65,964

Real estate – 1-4 family mortgage
452,447

 
531,095

Real estate – commercial mortgage
823,758

 
804,680

Installment loans to individuals
15,979

 
29,859

Gross loans
1,489,137

 
1,583,028

Unearned income
—

 
—

Loans, net of unearned income
1,489,137

 
1,583,028

The following is a summary of non purchased and purchased loans and leases at December 31: 
 
2016
 
2015
Commercial, financial, agricultural
$
717,490

 
$
636,837

Lease financing
49,250

 
35,978

Real estate – construction
552,679

 
357,665

Real estate – 1-4 family mortgage
1,878,177

 
1,735,323

Real estate – commercial mortgage
2,898,895

 
2,533,729

Installment loans to individuals
108,627

 
115,093

Gross loans
6,205,118

 
5,414,625

Unearned income
(2,409
)
 
(1,163
)
Loans, net of unearned income
6,202,709

 
5,413,462

Allowance for loan losses
(42,737
)
 
(42,437
)
Net loans
$
6,159,972

 
$
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
December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
811

 
$
720

 
$
586,730

 
$
588,261

 
$
—

 
$
932

 
$
97

 
$
1,029

 
$
589,290

Lease financing
193

 
—

 
48,919

 
49,112

 
—

 
138

 
—

 
138

 
49,250

Real estate – construction
995

 
—

 
482,931

 
483,926

 
—

 
—

 
—

 
—

 
483,926

Real estate – 1-4 family mortgage
6,189

 
1,136

 
1,414,254

 
1,421,579

 
161

 
1,222

 
2,768

 
4,151

 
1,425,730

Real estate – commercial mortgage
2,283

 
99

 
2,066,821

 
2,069,203

 
580

 
2,778

 
2,576

 
5,934

 
2,075,137

Installment loans to individuals
324

 
124

 
92,179

 
92,627

 
—

 
21

 
—

 
21

 
92,648

Unearned income
—

 
—

 
(2,409
)
 
(2,409
)
 
—

 
—

 
—

 
—

 
(2,409
)
Total
$
10,795

 
$
2,079

 
$
4,689,425

 
$
4,702,299

 
$
741

 
$
5,091

 
$
5,441

 
$
11,273

 
$
4,713,572

December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
176

 
$
38

 
$
485,095

 
$
485,309

 
$
30

 
$
68

 
$
—

 
$
98

 
$
485,407

Lease financing
—

 
—

 
35,978

 
35,978

 
—

 
—

 
—

 
—

 
35,978

Real estate – construction
68

 
—

 
291,633

 
291,701

 
—

 
—

 
—

 
—

 
291,701

Real estate – 1-4 family mortgage
4,461

 
807

 
1,192,318

 
1,197,586

 
370

 
1,857

 
4,415

 
6,642

 
1,204,228

Real estate – commercial mortgage
2,391

 
425

 
1,719,329

 
1,722,145

 
568

 
1,668

 
4,668

 
6,904

 
1,729,049

Installment loans to individuals
167

 
56

 
85,011

 
85,234

 
—

 
—

 
—

 
—

 
85,234

Unearned income
—

 
—

 
(1,163
)
 
(1,163
)
 
—

 
—

 
—

 
—

 
(1,163
)
Total
$
7,263

 
$
1,326

 
$
3,808,201

 
$
3,816,790

 
$
968

 
$
3,593

 
$
9,083

 
$
13,644

 
$
3,830,434

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
December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
823

 
$
990

 
$
125,417

 
$
127,230

 
$
260

 
$
381

 
$
329

 
$
970

 
$
128,200

Lease financing
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Real estate – construction
527

 
321

 
67,760

 
68,608

 
—

 
145

 
—

 
145

 
68,753

Real estate – 1-4 family mortgage
4,572

 
3,382

 
440,258

 
448,212

 
417

 
2,047

 
1,771

 
4,235

 
452,447

Real estate – commercial mortgage
3,045

 
6,112

 
808,886

 
818,043

 
—

 
2,661

 
3,054

 
5,715

 
823,758

Installment loans to individuals
96

 
10

 
15,591

 
15,697

 
—

 
156

 
126

 
282

 
15,979

Unearned income
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
$
9,063

 
$
10,815

 
$
1,457,912

 
$
1,477,790

 
$
677

 
$
5,390

 
$
5,280

 
$
11,347

 
$
1,489,137

December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,120

 
$
1,039

 
$
148,942

 
$
151,101

 
$
—

 
$
65

 
$
264

 
$
329

 
$
151,430

Lease financing
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
176

 
65,788

 
65,964

 
—

 
—

 
—

 
—

 
65,964

Real estate – 1-4 family mortgage
4,735

 
5,650

 
514,912

 
525,297

 
158

 
1,806

 
3,834

 
5,798

 
531,095

Real estate – commercial mortgage
2,458

 
8,156

 
784,863

 
795,477

 
—

 
595

 
8,608

 
9,203

 
804,680

Installment loans to individuals
94

 
46

 
29,659

 
29,799

 
—

 
53

 
7

 
60

 
29,859

Unearned income
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
$
8,407

 
$
15,067

 
$
1,544,164

 
$
1,567,638

 
$
158

 
$
2,519

 
$
12,713

 
$
15,390

 
$
1,583,028
Impaired loans
Impaired loans recognized in conformity with ASC 310-20, segregated by class, were as follows as of the dates and periods presented: 
 
As of December 31, 2016
 
Year Ended December 31, 2016
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
With a related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,175

 
$
1,539

 
$
136

 
$
856

 
$
28

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
517

 
517

 
1

 
469

 
26

Real estate – 1-4 family mortgage
9,207

 
10,823

 
1,091

 
9,603

 
225

Real estate – commercial mortgage
10,053

 
13,667

 
2,397

 
11,180

 
305

Installment loans to individuals
87

 
87

 
1

 
98

 
2

Total
$
21,039

 
$
26,633

 
$
3,626

 
$
22,206

 
$
586

With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
—

 
$
38

 
$
—

 
$
24

 
$
—

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
—

 
—

 
—

 
41

 
—

Real estate – commercial mortgage
568

 
1,340

 
—

 
938

 
38

Installment loans to individuals
—

 
—

 
—

 
—

 
—

Total
$
568

 
$
1,378

 
$
—

 
$
1,003

 
$
38

Totals
$
21,607

 
$
28,011

 
$
3,626

 
$
23,209

 
$
624

 
As of December 31, 2015
 
Year Ended December 31, 2015
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
With a related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
344

 
$
531

 
$
6

 
$
508

 
$
17

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
15,995

 
17,518

 
4,474

 
16,751

 
366

Real estate – commercial mortgage
15,626

 
18,918

 
2,906

 
17,059

 
469

Installment loans to individuals
67

 
67

 
—

 
67

 
2

Total
$
32,032

 
$
37,034

 
$
7,386

 
$
34,385

 
$
854

With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
12

 
$
760

 
$
—

 
$
43

 
$
—

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
—

 
—

 
—

 
—

 
—

Real estate – commercial mortgage
—

 
—

 
—

 
—

 
—

Installment loans to individuals
—

 
—

 
—

 
—

 
—

Total
$
12

 
$
760

 
$
—

 
$
43

 
$
—

Totals
$
32,044

 
$
37,794

 
$
7,386

 
$
34,428

 
$
854

Purchased non credit deteriorated loans that were subsequently impaired and recognized in conformity with ASC 310-20, segregated by class, were as follows as of the dates and periods presented: 
 
As of December 31, 2016
 
Year Ended December 31, 2016
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
With a related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
487

 
$
503

 
$
310

 
$
500

 
$
2

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
145

 
147

 
—

 
148

 
—

Real estate – 1-4 family mortgage
1,496

 
1,538

 
43

 
1,535

 
7

Real estate – commercial mortgage
2,275

 
2,299

 
48

 
2,273

 
111

Installment loans to individuals
135

 
159

 
114

 
161

 
—

Total
$
4,538

 
$
4,646

 
$
515

 
$
4,617

 
$
120

With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
224

 
$
229

 
$
—

 
$
172

 
$
4

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
1,385

 
1,557

 
—

 
1,550

 
33

Real estate – commercial mortgage
183

 
186

 
—

 
194

 
11

Installment loans to individuals
55

 
56

 
—

 
61

 
—

Total
$
1,847

 
$
2,028

 
$
—

 
$
1,977

 
$
48

Totals
$
6,385

 
$
6,674

 
$
515

 
$
6,594

 
$
168

 
As of December 31, 2015
 
Year Ended December 31, 2015
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
With a related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
14

 
$
17

 
$
—

 
$
18

 
$
—

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
2,698

 
2,710

 
20

 
899

 
78

Real estate – 1-4 family mortgage
655

 
675

 
1

 
712

 
28

Real estate – commercial mortgage
1,193

 
1,251

 
193

 
1,223

 
19

Installment loans to individuals
23

 
23

 
—

 
8

 
—

Total
$
4,583

 
$
4,676

 
$
214

 
$
2,860

 
$
125

With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
—

 
—

 
—

 
—

 
—

Real estate – commercial mortgage
—

 
—

 
—

 
—

 
—

Installment loans to individuals
—

 
—

 
—

 
—

 
—

Total
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Totals
$
4,583

 
$
4,676

 
$
214

 
$
2,860

 
$
125
Restructured loans
The following table presents restructured loans segregated by class as of the dates presented:
 
Number of
Loans
 
Pre-Modification
Outstanding
Recorded
Investment
 
Post-Modification
Outstanding
Recorded
Investment
December 31, 2016
 
 
 
 
 
Commercial, financial, agricultural
—

 
$
—

 
$
—

Lease financing
—

 
—

 
—

Real estate – construction
1

 
510

 
518

Real estate – 1-4 family mortgage
43

 
4,498

 
4,105

Real estate – commercial mortgage
8

 
4,324

 
2,758

Installment loans to individuals
1

 
66

 
66

Total
53

 
$
9,398

 
$
7,447

December 31, 2015
 
 
 
 
 
Commercial, financial, agricultural
1

 
$
257

 
$
257

Lease financing
—

 
—

 
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
46

 
5,249

 
4,754

Real estate – commercial mortgage
11

 
6,365

 
5,174

Installment loans to individuals
1

 
67

 
67

Total
59

 
$
11,938

 
$
10,252

The following table presents restructured loans segregated by class as of the dates presented: 
 
Number of
Loans
 
Pre-Modification
Outstanding
Recorded
Investment
 
Post-Modification
Outstanding
Recorded
Investment
December 31, 2016
 
 
 
 
 
Commercial, financial, agricultural
1

 
$
41

 
$
17

Lease financing
—

 
—

 
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
30

 
2,754

 
2,081

Real estate – commercial mortgage
11

 
2,641

 
1,930

Installment loans to individuals
—

 
—

 
—

Total
42

 
$
5,436

 
$
4,028

December 31, 2015
 
 
 
 
 
Commercial, financial, agricultural
—

 
$
—

 
$
—

Lease financing
—

 
—

 
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
17

 
1,339

 
1,024

Real estate – commercial mortgage
9

 
2,658

 
2,177

Installment loans to individuals
—

 
—

 
—

Total
26

 
$
3,997

 
$
3,201
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, 2015
49

 
$
13,879

Additional loans with concessions
39

 
10,077

Reductions due to:
 
 
 
Reclassified as nonperforming
(6
)
 
(2,870
)
Paid in full
(21
)
 
(8,127
)
Charge-offs
(1
)
 
(56
)
Transfer to other real estate owned
—

 
—

Principal paydowns
—

 
(428
)
Lapse of concession period
—

 
—

       TDR reclassified as performing loan
(1
)
 
$
(2,223
)
Totals at December 31, 2015
59

 
$
10,252

Additional loans with concessions
16

 
2,075

Reductions due to:
 
 
 
Reclassified as nonperforming
(4
)
 
(1,406
)
Paid in full
(16
)
 
(2,233
)
Charge-offs
(1
)
 
(275
)
Transfer to other real estate owned
(1
)
 
(51
)
Principal paydowns
—

 
(915
)
Lapse of concession period
—

 
—

       TDR reclassified as performing loan
—

 
$
—

Totals at December 31, 2016
53

 
$
7,447

 
Number of
Loans
 
Pre-Modification
Outstanding
Recorded
Investment
 
Post-Modification
Outstanding
Recorded
Investment
December 31, 2016
 
 
 
 
 
Commercial, financial, agricultural
1

 
$
41

 
$
17

Lease financing
—

 
—

 
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
30

 
2,754

 
2,081

Real estate – commercial mortgage
11

 
2,641

 
1,930

Installment loans to individuals
—

 
—

 
—

Total
42

 
$
5,436

 
$
4,028

December 31, 2015
 
 
 
 
 
Commercial, financial, agricultural
—

 
$
—

 
$
—

Lease financing
—

 
—

 
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
17

 
1,339

 
1,024

Real estate – commercial mortgage
9

 
2,658

 
2,177

Installment loans to individuals
—

 
—

 
—

Total
26

 
$
3,997

 
$
3,201


Changes in the Company’s restructured loans are set forth in the table below.
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
December 31, 2016
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
434,323

 
$
4,531

 
$
850

 
$
439,704

Real estate – construction
402,156

 
393

 
—

 
402,549

Real estate – 1-4 family mortgage
190,882

 
3,374

 
6,129

 
200,385

Real estate – commercial mortgage
1,734,523

 
18,118

 
13,088

 
1,765,729

Installment loans to individuals
—

 
—

 
—

 
—

Total
$
2,761,884

 
$
26,416

 
$
20,067

 
$
2,808,367

December 31, 2015
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
336,583

 
$
8,146

 
$
690

 
$
345,419

Real estate – construction
223,962

 
483

 
—

 
224,445

Real estate – 1-4 family mortgage
138,852

 
5,163

 
11,688

 
155,703

Real estate – commercial mortgage
1,406,188

 
22,142

 
18,964

 
1,447,294

Installment loans to individuals
52

 
—

 
5

 
57

Total
$
2,105,637

 
$
35,934

 
$
31,347

 
$
2,172,918

The following table presents the Company’s loan portfolio by risk-rating grades as of the dates presented:
 
Pass
 
Watch
 
Substandard
 
Total
December 31, 2016
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
102,777

 
$
2,370

 
$
1,491

 
$
106,638

Real estate – construction
61,206

 
2,640

 
—

 
63,846

Real estate – 1-4 family mortgage
105,265

 
7,665

 
364

 
113,294

Real estate – commercial mortgage
608,192

 
8,445

 
723

 
617,360

Installment loans to individuals
—

 
—

 
114

 
114

Total
$
877,440

 
$
21,120

 
$
2,692

 
$
901,252

December 31, 2015
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
128,602

 
$
352

 
$
1,044

 
$
129,998

Real estate – construction
49,436

 
—

 
—

 
49,436

Real estate – 1-4 family mortgage
136,417

 
4,549

 
3,772

 
144,738

Real estate – commercial mortgage
562,164

 
5,033

 
1,719

 
568,916

Installment loans to individuals
—

 
—

 
—

 
—

Total
$
876,619

 
$
9,934

 
$
6,535

 
$
893,088
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
December 31, 2016
 
 
 
 
 
Commercial, financial, agricultural
$
148,499

 
$
1,087

 
$
149,586

Lease financing
46,703

 
138

 
46,841

Real estate – construction
81,377

 
—

 
81,377

Real estate – 1-4 family mortgage
1,222,816

 
2,529

 
1,225,345

Real estate – commercial mortgage
308,609

 
799

 
309,408

Installment loans to individuals
92,504

 
144

 
92,648

Total
$
1,900,508

 
$
4,697

 
$
1,905,205

December 31, 2015
 
 
 
 
 
Commercial, financial, agricultural
$
139,895

 
$
93

 
$
139,988

Lease financing
34,815

 
—

 
34,815

Real estate – construction
67,256

 
—

 
67,256

Real estate – 1-4 family mortgage
1,046,100

 
2,425

 
1,048,525

Real estate – commercial mortgage
280,888

 
867

 
281,755

Installment loans to individuals
85,121

 
56

 
85,177

Total
$
1,654,075

 
$
3,441

 
$
1,657,516

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
December 31, 2016
 
 
 
 
 
Commercial, financial, agricultural
$
9,489

 
$
79

 
$
9,568

Lease financing
—

 
—

 
—

Real estate – construction
3,601

5

466

 
4,067

Real estate – 1-4 family mortgage
265,697

 
1,504

 
267,201

Real estate – commercial mortgage
21,353

 
58

 
21,411

Installment loans to individuals
13,712

 
168

 
13,880

Total
$
313,852

 
$
2,275

 
$
316,127

December 31, 2015
 
 
 
 
 
Commercial, financial, agricultural
$
4,943

 
$
—

 
$
4,943

Lease financing
—

 
—

 
—

Real estate – construction
13,779

 
—

 
13,779

Real estate – 1-4 family mortgage
294,256

 
452

 
294,708

Real estate – commercial mortgage
13,154

 
—

 
13,154

Installment loans to individuals
27,153

 
38

 
27,191

Total
$
353,285

 
$
490

 
$
353,775
Related party loans
A summary of the changes in related party loans follows:
Loans at December 31, 2015
$
16,013

New loans and advances
576

Payments received
(3,532
)
Changes in related parties
1,211

Loans at December 31, 2016
$
14,268