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Allowance for Loan Losses (Tables)
 6 Months Ended
Jun. 30, 2018
Receivables [Abstract]  
Summary of total non purchased and purchased loans
The following is a summary of non purchased loans and leases as of the dates presented:
 
 
June 30,
2018
 
December 31, 2017
Commercial, financial, agricultural
$
790,363

 
$
763,823

Lease financing
55,749

 
57,354

Real estate – construction
642,380

 
547,658

Real estate – 1-4 family mortgage
1,912,450

 
1,729,534

Real estate – commercial mortgage
2,554,955

 
2,390,076

Installment loans to individuals
105,195

 
103,452

Gross loans
6,061,092

 
5,591,897

Unearned income
(3,326
)
 
(3,341
)
Loans, net of unearned income
$
6,057,766

 
$
5,588,556

The following is a summary of purchased loans as of the dates presented:
 
 
June 30,
2018
 
December 31, 2017
Commercial, financial, agricultural
$
197,455

 
$
275,570

Real estate – construction
70,438

 
85,731

Real estate – 1-4 family mortgage
520,649

 
614,187

Real estate – commercial mortgage
906,219

 
1,037,454

Installment loans to individuals
15,130

 
18,824

Gross loans
1,709,891

 
2,031,766

Unearned income
—

 
—

Loans, net of unearned income
$
1,709,891

 
$
2,031,766

The following is a summary of total non purchased and purchased loans as of the dates presented:
 
 
June 30,
2018
 
December 31, 2017
Commercial, financial, agricultural
$
987,818

 
$
1,039,393

Lease financing
55,749

 
57,354

Real estate – construction
712,818

 
633,389

Real estate – 1-4 family mortgage
2,433,099

 
2,343,721

Real estate – commercial mortgage
3,461,174

 
3,427,530

Installment loans to individuals
120,325

 
122,276

Gross loans
7,770,983

 
7,623,663

Unearned income
(3,326
)
 
(3,341
)
Loans, net of unearned income
7,767,657

 
7,620,322

Allowance for loan losses
(47,355
)
 
(46,211
)
Net loans
$
7,720,302

 
$
7,574,111
Roll forward 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, 2018
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
7,071

 
$
4,198

 
$
11,404

 
$
21,914

 
$
1,814

 
$
46,401

Charge-offs
(457
)
 
—

 
(979
)
 
(46
)
 
(99
)
 
(1,581
)
Recoveries
114

 
3

 
83

 
496

 
29

 
725

Net (charge-offs) recoveries
(343
)
 
3

 
(896
)
 
450

 
(70
)
 
(856
)
Provision for loan losses charged to operations
418

 
501

 
1,149

 
86

 
(344
)
 
1,810

Ending balance
$
7,146

 
$
4,702

 
$
11,657

 
$
22,450

 
$
1,400

 
$
47,355

 
Commercial
 
Real Estate -
Construction
 
Real Estate -
1-4 Family
Mortgage
 
Real Estate  -
Commercial
Mortgage
 
Installment
and  Other(1)
 
Total
Six Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
5,542

 
$
3,428

 
$
12,009

 
$
23,384

 
$
1,848

 
$
46,211

Charge-offs
(1,116
)
 
—

 
(1,650
)
 
(659
)
 
(221
)
 
(3,646
)
Recoveries
349

 
7

 
216

 
604

 
54

 
1,230

Net (charge-offs) recoveries
(767
)
 
7

 
(1,434
)
 
(55
)
 
(167
)
 
(2,416
)
Provision for loan losses charged to operations
2,371

 
1,267

 
1,082

 
(879
)
 
(281
)
 
3,560

Ending balance
$
7,146

 
$
4,702

 
$
11,657

 
$
22,450

 
$
1,400

 
$
47,355

Period-End Amount Allocated to:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
417

 
$
—

 
$
76

 
$
1,014

 
$
8

 
$
1,515

Collectively evaluated for impairment
6,404

 
4,702

 
11,053

 
20,036

 
1,389

 
43,584

Purchased with deteriorated credit quality
325

 
—

 
528

 
1,400

 
3

 
2,256

Ending balance
$
7,146

 
$
4,702

 
$
11,657

 
$
22,450

 
$
1,400

 
$
47,355


 
Commercial
 
Real Estate -
Construction
 
Real Estate -
1-4 Family
Mortgage
 
Real Estate  -
Commercial
Mortgage
 
Installment
and  Other(1)
 
Total
Three Months Ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
5,112

 
$
2,119

 
$
12,162

 
$
22,073

 
$
1,457

 
$
42,923

Charge-offs
(304
)
 
—

 
(551
)
 
(434
)
 
(125
)
 
(1,414
)
Recoveries
64

 
3

 
64

 
717

 
42

 
890

Net (charge-offs) recoveries
(240
)
 
3

 
(487
)
 
283

 
(83
)
 
(524
)
Provision for loan losses charged to operations
220

 
458

 
429

 
244

 
399

 
1,750

Ending balance
$
5,092

 
$
2,580

 
$
12,104

 
$
22,600

 
$
1,773

 
$
44,149

 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
Real Estate -
Construction
 
Real Estate -
1-4 Family
Mortgage
 
Real Estate  -
Commercial
Mortgage
 
Installment
and  Other(1)
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
5,486

 
$
2,380

 
$
14,294

 
$
19,059

 
$
1,518

 
$
42,737

Charge-offs
(1,136
)
 
—

 
(826
)
 
(661
)
 
(389
)
 
(3,012
)
Recoveries
121

 
34

 
146

 
812

 
61

 
1,174

Net (charge-offs) recoveries
(1,015
)
 
34

 
(680
)
 
151

 
(328
)
 
(1,838
)
Provision for loan losses charged to operations
621

 
166

 
(1,510
)
 
3,390

 
583

 
3,250

Ending balance
$
5,092

 
$
2,580

 
$
12,104

 
$
22,600

 
$
1,773

 
$
44,149

Period-End Amount Allocated to:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
166

 
$
2

 
$
878

 
$
2,159

 
$
3

 
$
3,208

Collectively evaluated for impairment
4,587

 
2,578

 
10,534

 
19,313

 
1,769

 
38,781

Purchased with deteriorated credit quality
339

 
—

 
692

 
1,128

 
1

 
2,160

Ending balance
$
5,092

 
$
2,580

 
$
12,104

 
$
22,600

 
$
1,773

 
$
44,149

(1)
Includes lease financing receivables.
Investment in loans, net of unearned income on impairment methodology
The following table presents the fair value of loans purchased from Metropolitan as of the July 1, 2017 acquisition date.
At acquisition date:
 
July 1, 2017
  Contractually-required principal and interest
 
$
1,198,741

  Nonaccretable difference
 
(79,165
)
  Cash flows expected to be collected
 
1,119,576

  Accretable yield
 
(154,543
)
      Fair value
 
$
965,033

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, 2018
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
2,697

 
$
—

 
$
11,561

 
$
7,213

 
$
686

 
$
22,157

Collectively evaluated for impairment
974,706

 
712,818

 
2,375,162

 
3,311,268

 
170,505

 
7,544,459

Purchased with deteriorated credit quality
10,415

 
—

 
46,376

 
142,693

 
1,557

 
201,041

Ending balance
$
987,818

 
$
712,818

 
$
2,433,099

 
$
3,461,174

 
$
172,748

 
$
7,767,657

December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
3,064

 
$
1,777

 
$
14,482

 
$
10,545

 
$
439

 
$
30,307

Collectively evaluated for impairment
1,021,014

 
631,612

 
2,275,270

 
3,260,648

 
174,211

 
7,362,755

Purchased with deteriorated credit quality
15,315

 
—

 
53,969

 
156,337

 
1,639

 
227,260

Ending balance
$
1,039,393

 
$
633,389

 
$
2,343,721

 
$
3,427,530

 
$
176,289

 
$
7,620,322

 
(1)
Includes lease financing receivables.