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Allowance for Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2017
Receivables [Abstract]  
Summary of loans
The following is a summary of non purchased loans and leases as of the dates presented:
 
 
March 31,
2017
 
December 31, 2016
Commercial, financial, agricultural
$
626,237

 
$
589,290

Lease financing
50,462

 
49,250

Real estate – construction
378,061

 
483,926

Real estate – 1-4 family mortgage
1,485,663

 
1,425,730

Real estate – commercial mortgage
2,203,639

 
2,075,137

Installment loans to individuals
92,669

 
92,648

Gross loans
4,836,731

 
4,715,981

Unearned income
(2,646
)
 
(2,409
)
Loans, net of unearned income
4,834,085

 
4,713,572

The following is a summary of purchased loans as of the dates presented:
 
 
March 31,
2017
 
December 31, 2016
Commercial, financial, agricultural
$
115,229

 
$
128,200

Lease financing
—

 
—

Real estate – construction
35,673

 
68,753

Real estate – 1-4 family mortgage
431,904

 
452,447

Real estate – commercial mortgage
804,790

 
823,758

Installment loans to individuals
14,124

 
15,979

Gross loans
1,401,720

 
1,489,137

Unearned income
—

 
—

Loans, net of unearned income
1,401,720

 
1,489,137

The following is a summary of non purchased and purchased loans as of the dates presented:
 
 
March 31,
2017
 
December 31, 2016
Commercial, financial, agricultural
$
741,466

 
$
717,490

Lease financing
50,462

 
49,250

Real estate – construction
413,734

 
552,679

Real estate – 1-4 family mortgage
1,917,567

 
1,878,177

Real estate – commercial mortgage
3,008,429

 
2,898,895

Installment loans to individuals
106,793

 
108,627

Gross loans
6,238,451

 
6,205,118

Unearned income
(2,646
)
 
(2,409
)
Loans, net of unearned income
6,235,805

 
6,202,709

Allowance for loan losses
(42,923
)
 
(42,737
)
Net loans
$
6,192,882

 
$
6,159,972
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 March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
5,486

 
$
2,380

 
$
14,294

 
$
19,059

 
$
1,518

 
$
42,737

Charge-offs
(832
)
 
—

 
(275
)
 
(227
)
 
(264
)
 
(1,598
)
Recoveries
57

 
31

 
82

 
95

 
19

 
284

Net (charge-offs) recoveries
(775
)
 
31

 
(193
)
 
(132
)
 
(245
)
 
(1,314
)
Provision for loan losses charged to operations (2) 
401

 
(292
)
 
(1,939
)
 
3,146

 
184

 
1,500

Ending balance
$
5,112

 
$
2,119

 
$
12,162

 
$
22,073

 
$
1,457

 
$
42,923

Period-End Amount Allocated to:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
165

 
$
—

 
$
1,139

 
$
2,670

 
$
3

 
$
3,977

Collectively evaluated for impairment
4,569

 
2,119

 
10,256

 
17,830

 
1,453

 
36,227

Purchased with deteriorated credit quality
378

 
—

 
767

 
1,573

 
1

 
2,719

Ending balance
$
5,112

 
$
2,119

 
$
12,162

 
$
22,073

 
$
1,457

 
$
42,923


 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
Real Estate -
Construction
 
Real Estate -
1-4 Family
Mortgage
 
Real Estate  -
Commercial
Mortgage
 
Installment
and  Other(1)
 
Total
Three Months Ended March 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
4,186

 
$
1,852

 
$
13,908

 
$
21,111

 
$
1,380

 
$
42,437

Charge-offs
(657
)
 
—

 
(116
)
 
(1,001
)
 
(180
)
 
(1,954
)
Recoveries
53

 
6

 
395

 
92

 
30

 
576

Net charge-offs
(604
)
 
6

 
279

 
(909
)
 
(150
)
 
(1,378
)
Provision for loan losses
601

 
85

 
365

 
530

 
198

 
1,779

Benefit attributable to FDIC loss-share agreements
(15
)
 
—

 
(37
)
 
(118
)
 
—

 
(170
)
Recoveries payable to FDIC
3

 
—

 
27

 
161

 
—

 
191

Provision for loan losses charged to operations
589

 
85

 
355

 
573

 
198

 
1,800

Ending balance
$
4,171

 
$
1,943

 
$
14,542

 
$
20,775

 
$
1,428

 
$
42,859

Period-End Amount Allocated to:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
6

 
$
—

 
$
4,311

 
$
3,082

 
$
—

 
$
7,399

Collectively evaluated for impairment
3,743

 
1,943

 
9,896

 
16,429

 
1,427

 
33,438

Purchased with deteriorated credit quality
422

 
—

 
335

 
1,264

 
1

 
2,022

Ending balance
$
4,171

 
$
1,943

 
$
14,542

 
$
20,775

 
$
1,428

 
$
42,859


(1)
Includes lease financing receivables.
(2)
Due to the termination of the loss-share agreements on December 8, 2016, there was no loss-share impact to the provision for loan losses in the first quarter of 2017.
Investment in loans, net of unearned income on impairment methodology
The following table presents the fair value of loans purchased 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

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
March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
2,729

 
$
—

 
$
15,859

 
$
18,122

 
$
192

 
$
36,902

Collectively evaluated for impairment
725,709

 
413,734

 
1,833,643

 
2,817,588

 
152,490

 
5,943,164

Purchased with deteriorated credit quality
13,028

 
—

 
68,065

 
172,719

 
1,927

 
255,739

Ending balance
$
741,466

 
$
413,734

 
$
1,917,567

 
$
3,008,429

 
$
154,609

 
$
6,235,805

December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
1,886

 
$
662

 
$
12,088

 
$
13,079

 
$
277

 
$
27,992

Collectively evaluated for impairment
703,610

 
551,177

 
1,794,137

 
2,700,829

 
153,206

 
5,902,959

Purchased with deteriorated credit quality
11,994

 
840

 
71,952

 
184,987

 
1,985

 
271,758

Ending balance
$
717,490

 
$
552,679

 
$
1,878,177

 
$
2,898,895

 
$
155,468

 
$
6,202,709

 
(1)
Includes lease financing receivables.