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Purchased Loans (Tables)
 6 Months Ended
Jun. 30, 2017
Receivables [Abstract]  
Summary of loans
The following is a summary of non purchased loans and leases as of the dates presented:
 
 
June 30,
2017
 
December 31, 2016
Commercial, financial, agricultural
$
657,713

 
$
589,290

Lease financing
52,347

 
49,250

Real estate – construction
424,861

 
483,926

Real estate – 1-4 family mortgage
1,551,934

 
1,425,730

Real estate – commercial mortgage
2,281,220

 
2,075,137

Installment loans to individuals
94,104

 
92,648

Gross loans
5,062,179

 
4,715,981

Unearned income
(3,281
)
 
(2,409
)
Loans, net of unearned income
5,058,898

 
4,713,572

The following is a summary of purchased loans as of the dates presented:
 
 
June 30,
2017
 
December 31, 2016
Commercial, financial, agricultural
$
102,869

 
$
128,200

Real estate – construction
35,946

 
68,753

Real estate – 1-4 family mortgage
400,460

 
452,447

Real estate – commercial mortgage
759,743

 
823,758

Installment loans to individuals
13,091

 
15,979

Gross loans
1,312,109

 
1,489,137

Unearned income
—

 
—

Loans, net of unearned income
1,312,109

 
1,489,137

The following is a summary of total non purchased and purchased loans as of the dates presented:
 
 
June 30,
2017
 
December 31, 2016
Commercial, financial, agricultural
$
760,582

 
$
717,490

Lease financing
52,347

 
49,250

Real estate – construction
460,807

 
552,679

Real estate – 1-4 family mortgage
1,952,394

 
1,878,177

Real estate – commercial mortgage
3,040,963

 
2,898,895

Installment loans to individuals
107,195

 
108,627

Gross loans
6,374,288

 
6,205,118

Unearned income
(3,281
)
 
(2,409
)
Loans, net of unearned income
6,371,007

 
6,202,709

Allowance for loan losses
(44,149
)
 
(42,737
)
Net loans
$
6,326,858

 
$
6,159,972
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, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
975

 
$
—

 
$
654,670

 
$
655,645

 
$
—

 
$
1,770

 
$
298

 
$
2,068

 
$
657,713

Lease financing
—

 
170

 
52,177

 
52,347

 
—

 
—

 
—

 
—

 
52,347

Real estate – construction
—

 
—

 
424,861

 
424,861

 
—

 
—

 
—

 
—

 
424,861

Real estate – 1-4 family mortgage
6,722

 
538

 
1,540,332

 
1,547,592

 
—

 
1,999

 
2,343

 
4,342

 
1,551,934

Real estate – commercial mortgage
1,068

 
517

 
2,274,705

 
2,276,290

 
634

 
2,395

 
1,901

 
4,930

 
2,281,220

Installment loans to individuals
293

 
58

 
93,680

 
94,031

 
—

 
65

 
8

 
73

 
94,104

Unearned income
—

 
—

 
(3,281
)
 
(3,281
)
 
—

 
—

 
—

 
—

 
(3,281
)
Total
$
9,058

 
$
1,283

 
$
5,037,144

 
$
5,047,485

 
$
634

 
$
6,229

 
$
4,550

 
$
11,413

 
$
5,058,898

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

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, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
124

 
$
564

 
$
101,732

 
$
102,420

 
$
—

 
$
173

 
$
276

 
$
449

 
$
102,869

Real estate – construction
—

 
—

 
35,946

 
35,946

 
—

 
—

 
—

 
—

 
35,946

Real estate – 1-4 family mortgage
2,363

 
3,210

 
391,218

 
396,791

 
207

 
2,208

 
1,254

 
3,669

 
400,460

Real estate – commercial mortgage
1,874

 
4,347

 
751,880

 
758,101

 
—

 
287

 
1,355

 
1,642

 
759,743

Installment loans to individuals
118

 
7

 
12,799

 
12,924

 
10

 
2

 
155

 
167

 
13,091

Unearned income
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
$
4,479

 
$
8,128

 
$
1,293,575

 
$
1,306,182

 
$
217

 
$
2,670

 
$
3,040

 
$
5,927

 
$
1,312,109

December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
823

 
$
990

 
$
125,417

 
$
127,230

 
$
260

 
$
381

 
$
329

 
$
970

 
$
128,200

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
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, 2017
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
2,298

 
$
2,068

 
$
—

 
$
2,068

 
$
150

Real estate – construction
314

 
314

 
—

 
314

 
2

Real estate – 1-4 family mortgage
10,692

 
8,860

 
—

 
8,860

 
830

Real estate – commercial mortgage
16,543

 
13,742

 
568

 
14,310

 
2,148

Installment loans to individuals
144

 
142

 
—

 
142

 
—

Total
$
29,991

 
$
25,126

 
$
568

 
$
25,694

 
$
3,130

December 31, 2016
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,577

 
$
1,175

 
$
—

 
$
1,175

 
$
136

Real estate – construction
517

 
517

 
—

 
517

 
1

Real estate – 1-4 family mortgage
10,823

 
9,207

 
—

 
9,207

 
1,091

Real estate – commercial mortgage
15,007

 
10,053

 
568

 
10,621

 
2,397

Installment loans to individuals
87

 
87

 
—

 
87

 
1

Totals
$
28,011

 
$
21,039

 
$
568

 
$
21,607

 
$
3,626

Loans accounted for under ASC 310-20, 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, 2017
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
350

 
$
112

 
$
221

 
$
333

 
$
16

Real estate – 1-4 family mortgage
5,058

 
1,724

 
2,715

 
4,439

 
48

Real estate – commercial mortgage
2,581

 
1,642

 
888

 
2,530

 
11

Installment loans to individuals
24

 
6

 
13

 
19

 
3

Total
$
8,013

 
$
3,484

 
$
3,837

 
$
7,321

 
$
78

December 31, 2016
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
732

 
$
487

 
$
224

 
$
711

 
$
310

Real estate – construction
147

 
145

 
—

 
145

 
—

Real estate – 1-4 family mortgage
3,095

 
1,496

 
1,385

 
2,881

 
43

Real estate – commercial mortgage
2,485

 
2,275

 
183

 
2,458

 
48

Installment loans to individuals
215

 
135

 
55

 
190

 
114

Totals
$
6,674

 
$
4,538

 
$
1,847

 
$
6,385

 
$
515


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, 2017
 
June 30, 2016
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
342

 
$
1

 
$
237

 
$
2

Real estate – 1-4 family mortgage
4,960

 
47

 
1,644

 
5

Real estate – commercial mortgage
2,515

 
30

 
2,504

 
35

Installment loans to individuals
19

 
—

 
12

 
—

Total
$
7,836

 
$
78

 
$
4,397

 
$
42

 
Six Months Ended
 
Six Months Ended
 
June 30, 2017
 
June 30, 2016
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
347

 
$
3

 
$
241

 
$
2

Real estate – 1-4 family mortgage
5,032

 
62

 
1,634

 
14

Real estate – commercial mortgage
2,284

 
51

 
2,474

 
45

Installment loans to individuals
21

 
—

 
14

 
—

Total
$
7,684

 
$
116

 
$
4,363

 
$
61
Purchased credit deteriorated 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, 2017
 
June 30, 2016
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
1,873

 
$
—

 
$
1,232

 
$
21

Real estate – construction
295

 
6

 
117

 
2

Real estate – 1-4 family mortgage
8,911

 
89

 
16,157

 
123

Real estate – commercial mortgage
14,487

 
176

 
11,660

 
91

Installment loans to individuals
160

 
2

 
67

 
1

Total
$
25,726

 
$
273

 
$
29,233

 
$
238

 
Six Months Ended
 
Six Months Ended
 
June 30, 2017
 
June 30, 2016
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
2,187

 
$
—

 
$
1,265

 
$
23

Real estate – construction
268

 
6

 
58

 
2

Real estate – 1-4 family mortgage
8,892

 
110

 
16,415

 
195

Real estate – commercial mortgage
14,635

 
279

 
11,986

 
196

Installment loans to individuals
166

 
2

 
67

 
1

Total
$
26,148

 
$
397

 
$
29,791

 
$
417

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, 2017
 
June 30, 2016
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
14,894

 
$
252

 
$
16,361

 
$
287

Real estate – construction
—

 
—

 
3,562

 
39

Real estate – 1-4 family mortgage
72,933

 
759

 
98,200

 
1,083

Real estate – commercial mortgage
181,007

 
2,169

 
239,564

 
2,903

Installment loans to individuals
1,935

 
19

 
2,705

 
29

Total
$
270,769

 
$
3,199

 
$
360,392

 
$
4,341


 
Six Months Ended
 
Six Months Ended
 
June 30, 2017
 
June 30, 2016
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
14,048

 
$
487

 
$
16,872

 
$
611

Real estate – construction
—

 
—

 
3,572

 
65

Real estate – 1-4 family mortgage
73,656

 
1,582

 
98,874

 
2,030

Real estate – commercial mortgage
182,894

 
4,394

 
240,254

 
5,593

Installment loans to individuals
1,966

 
38

 
2,776

 
56

Total
$
272,564

 
$
6,501

 
$
362,348

 
$
8,355

Loans accounted for under 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, 2017
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
19,906

 
$
6,255

 
$
5,751

 
$
12,006

 
$
339

Real estate – 1-4 family mortgage
74,931

 
19,206

 
43,950

 
63,156

 
692

Real estate – commercial mortgage
196,028

 
56,788

 
103,063

 
159,851

 
1,128

Installment loans to individuals
1,927

 
665

 
1,118

 
1,783

 
1

Total
$
292,792

 
$
82,914

 
$
153,882

 
$
236,796

 
$
2,160

December 31, 2016
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
20,697

 
$
4,555

 
$
7,439

 
$
11,994

 
$
372

Real estate – construction
1,141

 
—

 
840

 
840

 
—

Real estate – 1-4 family mortgage
86,725

 
21,887

 
50,065

 
71,952

 
841

Real estate – commercial mortgage
229,075

 
62,449

 
122,538

 
184,987

 
1,606

Installment loans to individuals
2,466

 
366

 
1,619

 
1,985

 
1

Totals
$
340,104

 
$
89,257

 
$
182,501

 
$
271,758

 
$
2,820
Restructured loans
The following tables illustrate the impact of modifications classified as restructured loans which were held on the Consolidated Balance Sheet at period end 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, 2017
 
 
 
 
 
Real estate – 1-4 family mortgage
3

 
$
127

 
$
126

Real estate – commercial mortgage
1

 
366

 
62

Installment loans to individuals
1

 
4

 
4

Total
5

 
$
497

 
$
192

Three months ended June 30, 2016
 
 
 
 
 
Real estate – 1-4 family mortgage
3

 
$
676

 
$
662

Total
3

 
$
676

 
$
662


 
Number of
Loans
 
Pre-
Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
Six months ended June 30, 2017
 
 
 
 
 
Real estate – 1-4 family mortgage
5

 
$
304

 
$
297

Real estate – commercial mortgage
2

 
453

 
147

Installment loans to individuals
1

 
4

 
4

Total
8

 
$
761

 
$
448

Six months ended June 30, 2016
 
 
 
 
 
Real estate – 1-4 family mortgage
7

 
$
987

 
$
963

Total
7

 
$
987

 
$
963

The following tables illustrate the impact of modifications classified as restructured loans which were held on the Consolidated Balance Sheet at period end 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, 2017
 
 
 
 
 
Real estate – 1-4 family mortgage
4

 
$
463

 
$
367

Total
4

 
$
463

 
$
367

Three months ended June 30, 2016
 
 
 
 
 
Real estate – 1-4 family mortgage
2

 
$
148

 
$
147

Total
2

 
$
148

 
$
147



 
Number of
Loans
 
Pre-
Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
Six months ended June 30, 2017
 
 
 
 
 
Real estate – 1-4 family mortgage
14

 
$
2,684

 
$
2,178

Real estate – commercial mortgage
4

 
2,721

 
1,999

Total
18

 
$
5,405

 
$
4,177

Six months ended June 30, 2016
 
 
 
 
 
Real estate – 1-4 family mortgage
8

 
$
501

 
$
390

Real estate – commercial mortgage
2

 
612

 
606

Total
10

 
$
1,113

 
$
996
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, 2017
53

 
$
7,447

Additional loans with concessions
9

 
536

Reductions due to:
 
 
 
Reclassified as nonperforming
(2
)
 
(126
)
Paid in full
(6
)
 
(368
)
Charge-offs
(1
)
 
(250
)
Principal paydowns
—

 
(181
)
Totals at June 30, 2017
53

 
$
7,058

Changes in the Company’s restructured loans are set forth in the table below:
 
 
Number of
Loans
 
Recorded
Investment
Totals at January 1, 2017
42

 
$
4,028

Additional loans with concessions
18

 
4,209

Reductions due to:
 
 
 
Reclassified as nonperforming
(6
)
 
(534
)
Charge-offs
(1
)
 
(17
)
Lapse of concession period
(1
)
 
(101
)
Totals at June 30, 2017
52

 
$
7,409
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, 2017
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
486,168

 
$
2,032

 
$
1,122

 
$
489,322

Real estate – construction
368,987

 
444

 
—

 
369,431

Real estate – 1-4 family mortgage
227,554

 
2,938

 
5,018

 
235,510

Real estate – commercial mortgage
1,919,279

 
15,594

 
11,463

 
1,946,336

Total
$
3,001,988

 
$
21,008

 
$
17,603

 
$
3,040,599

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

Total
$
2,761,884

 
$
26,416

 
$
20,067

 
$
2,808,367

The following table presents the Company’s loan portfolio by risk-rating grades as of the dates presented:

 
Pass
 
Watch
 
Substandard
 
Total
June 30, 2017
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
76,505

 
$
2,054

 
$
409

 
$
78,968

Real estate – construction
35,007

 
—

 
—

 
35,007

Real estate – 1-4 family mortgage
89,147

 
6,003

 
204

 
95,354

Real estate – commercial mortgage
565,140

 
7,585

 
972

 
573,697

Installment loans to individuals
—

 
—

 
4

 
4

Total
$
765,799

 
$
15,642

 
$
1,589

 
$
783,030

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
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, 2017
 
 
 
 
 
Commercial, financial, agricultural
$
166,730

 
$
1,661

 
$
168,391

Lease financing
48,896

 
170

 
49,066

Real estate – construction
55,430

 
—

 
55,430

Real estate – 1-4 family mortgage
1,314,051

 
2,373

 
1,316,424

Real estate – commercial mortgage
333,298

 
1,586

 
334,884

Installment loans to individuals
93,973

 
131

 
94,104

Total
$
2,012,378

 
$
5,921

 
$
2,018,299

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

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, 2017
 
 
 
 
 
Commercial, financial, agricultural
$
11,833

 
$
62

 
$
11,895

Real estate – construction
939

 
—

 
939

Real estate – 1-4 family mortgage
240,610

 
1,340

 
241,950

Real estate – commercial mortgage
25,403

 
792

 
26,195

Installment loans to individuals
11,142

 
162

 
11,304

Total
$
289,927

 
$
2,356

 
$
292,283

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

 
$
79

 
$
9,568

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
Loans acquired with deteriorated credit quality
Loans purchased 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:
 
 
Total Purchased Credit Deteriorated Loans
June 30, 2017
 
Commercial, financial, agricultural
$
12,006

Real estate – 1-4 family mortgage
63,156

Real estate – commercial mortgage
159,851

Installment loans to individuals
1,783

Total
$
236,796

December 31, 2016
 
Commercial, financial, agricultural
$
11,994

Real estate – construction
840

Real estate – 1-4 family mortgage
71,952

Real estate – commercial mortgage
184,987

Installment loans to individuals
1,985

Total
$
271,758
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, 2017:
 
 
Total Purchased Credit Deteriorated Loans
Contractually-required principal and interest
$
344,571

Nonaccretable difference(1)
(78,519
)
Cash flows expected to be collected
266,052

Accretable yield(2)
(29,256
)
Fair value
$
236,796

 
(1)
Represents contractual principal and interest cash flows of $78,502 and $17, respectively, not expected to be collected.
(2)
Represents contractual interest payments of $756 expected to be collected and purchase discount of $28,500.
Changes in accretable yield of loans acquired with deteriorated credit quality
Changes in the accretable yield of loans purchased with deteriorated credit quality were as follows:
 
 
Total Purchased Credit Deteriorated Loans
Balance at January 1, 2017
$
(36,326
)
Additions due to acquisition
—

Reclasses from nonaccretable difference
294

Accretion
6,035

Charge-offs
741

Balance at June 30, 2017
$
(29,256
)
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
June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
2,401

 
$
314

 
$
13,299

 
$
16,840

 
$
161

 
$
33,015

Collectively evaluated for impairment
746,175

 
460,493

 
1,875,939

 
2,864,272

 
154,317

 
6,101,196

Purchased with deteriorated credit quality
12,006

 
—

 
63,156

 
159,851

 
1,783

 
236,796

Ending balance
$
760,582

 
$
460,807

 
$
1,952,394

 
$
3,040,963

 
$
156,261

 
$
6,371,007

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.