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Purchased Loans (Tables)
 12 Months Ended
Dec. 31, 2018
Receivables [Abstract]  
Summary of loans
The following is a summary of non purchased loans and leases at December 31: 
 
2018
 
2017
Commercial, financial, agricultural
$
875,649

 
$
763,823

Lease financing
64,992

 
57,354

Real estate – construction
635,519

 
547,658

Real estate – 1-4 family mortgage
2,087,890

 
1,729,534

Real estate – commercial mortgage
2,628,365

 
2,390,076

Installment loans to individuals
100,424

 
103,452

Gross loans
6,392,839

 
5,591,897

Unearned income
(3,127
)
 
(3,341
)
Loans, net of unearned income
$
6,389,712

 
$
5,588,556

The following is a summary of purchased loans at December 31: 
 
2018
 
2017
Commercial, financial, agricultural
$
420,263

 
$
275,570

Lease financing
—

 
—

Real estate – construction
105,149

 
85,731

Real estate – 1-4 family mortgage
707,453

 
614,187

Real estate – commercial mortgage
1,423,144

 
1,037,454

Installment loans to individuals
37,408

 
18,824

Gross loans
2,693,417

 
2,031,766

Unearned income
—

 
—

Loans, net of unearned income
$
2,693,417

 
$
2,031,766

The following is a summary of non purchased and purchased loans and leases at December 31: 
 
2018
 
2017
Commercial, financial, agricultural
$
1,295,912

 
$
1,039,393

Lease financing
64,992

 
57,354

Real estate – construction
740,668

 
633,389

Real estate – 1-4 family mortgage
2,795,343

 
2,343,721

Real estate – commercial mortgage
4,051,509

 
3,427,530

Installment loans to individuals
137,832

 
122,276

Gross loans
9,086,256

 
7,623,663

Unearned income
(3,127
)
 
(3,341
)
Loans, net of unearned income
9,083,129

 
7,620,322

Allowance for loan losses
(49,026
)
 
(46,211
)
Net loans
$
9,034,103

 
$
7,574,111
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, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
3,397

 
$
267

 
$
870,457

 
$
874,121

 
$
—

 
$
1,356

 
$
172

 
$
1,528

 
$
875,649

Lease financing
607

 
89

 
64,296

 
64,992

 
—

 
—

 
—

 
—

 
64,992

Real estate – construction
887

 
—

 
634,632

 
635,519

 
—

 
—

 
—

 
—

 
635,519

Real estate – 1-4 family mortgage
10,378

 
2,151

 
2,071,401

 
2,083,930

 
238

 
2,676

 
1,046

 
3,960

 
2,087,890

Real estate – commercial mortgage
1,880

 
13

 
2,621,902

 
2,623,795

 
—

 
2,974

 
1,596

 
4,570

 
2,628,365

Installment loans to individuals
368

 
165

 
99,731

 
100,264

 
3

 
157

 
—

 
160

 
100,424

Unearned income
—

 
—

 
(3,127
)
 
(3,127
)
 
—

 
—

 
—

 
—

 
(3,127
)
Total
$
17,517

 
$
2,685

 
$
6,359,292

 
$
6,379,494

 
$
241

 
$
7,163

 
$
2,814

 
$
10,218

 
$
6,389,712

December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
2,722

 
$
22

 
$
759,143

 
$
761,887

 
$
205

 
$
1,033

 
$
698

 
$
1,936

 
$
763,823

Lease financing
47

 
—

 
57,148

 
57,195

 
—

 
159

 
—

 
159

 
57,354

Real estate – construction
50

 
—

 
547,608

 
547,658

 
—

 
—

 
—

 
—

 
547,658

Real estate – 1-4 family mortgage
11,810

 
2,194

 
1,712,982

 
1,726,986

 
—

 
1,818

 
730

 
2,548

 
1,729,534

Real estate – commercial mortgage
1,921

 
727

 
2,381,871

 
2,384,519

 
—

 
2,877

 
2,680

 
5,557

 
2,390,076

Installment loans to individuals
429

 
72

 
102,901

 
103,402

 
1

 
28

 
21

 
50

 
103,452

Unearned income
—

 
—

 
(3,341
)
 
(3,341
)
 
—

 
—

 
—

 
—

 
(3,341
)
Total
$
16,979

 
$
3,015

 
$
5,558,312

 
$
5,578,306

 
$
206

 
$
5,915

 
$
4,129

 
$
10,250

 
$
5,588,556

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, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,811

 
$
97

 
$
417,786

 
$
419,694

 
$
—

 
$
477

 
$
92

 
$
569

 
$
420,263

Lease financing
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Real estate – construction
1,235

 
68

 
103,846

 
105,149

 
—

 
—

 
—

 
—

 
105,149

Real estate – 1-4 family mortgage
8,981

 
4,455

 
690,697

 
704,133

 
202

 
1,881

 
1,237

 
3,320

 
707,453

Real estate – commercial mortgage
5,711

 
2,410

 
1,413,346

 
1,421,467

 
—

 
1,401

 
276

 
1,677

 
1,423,144

Installment loans to individuals
1,342

 
202

 
35,594

 
37,138

 
2

 
24

 
244

 
270

 
37,408

Unearned income
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
$
19,080

 
$
7,232

 
$
2,661,269

 
$
2,687,581

 
$
204

 
$
3,783

 
$
1,849

 
$
5,836

 
$
2,693,417

December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,119

 
$
532

 
$
273,488

 
$
275,139

 
$
—

 
$
199

 
$
232

 
$
431

 
$
275,570

Lease financing
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Real estate – construction
415

 
—

 
85,316

 
85,731

 
—

 
—

 
—

 
—

 
85,731

Real estate – 1-4 family mortgage
6,070

 
2,280

 
602,464

 
610,814

 
385

 
879

 
2,109

 
3,373

 
614,187

Real estate – commercial mortgage
2,947

 
2,910

 
1,031,141

 
1,036,998

 
191

 
99

 
166

 
456

 
1,037,454

Installment loans to individuals
208

 
9

 
18,443

 
18,660

 
59

 
—

 
105

 
164

 
18,824

Unearned income
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
$
10,759

 
$
5,731

 
$
2,010,852

 
$
2,027,342

 
$
635

 
$
1,177

 
$
2,612

 
$
4,424

 
$
2,031,766
Impaired loans
Impaired loans recognized in conformity with ASC 310, segregated by class, were as follows as of the dates and for the periods presented: 
 
As of December 31, 2018
 
Year Ended December 31, 2018
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
With a related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,834

 
$
2,280

 
$
163

 
$
2,079

 
$
35

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
7,302

 
7,302

 
63

 
7,180

 
162

Real estate – 1-4 family mortgage
9,077

 
9,767

 
61

 
9,212

 
191

Real estate – commercial mortgage
4,609

 
5,765

 
689

 
4,889

 
72

Installment loans to individuals
223

 
232

 
1

 
239

 
2

Total
$
23,045

 
$
25,346

 
$
977

 
$
23,599

 
$
462

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

 
$
—

 
$
—

 
$
—

 
$
—

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
2,165

 
2,165

 
—

 
2,165

 
55

Real estate – 1-4 family mortgage
—

 
—

 
—

 
—

 
—

Real estate – commercial mortgage
1,238

 
2,860

 
—

 
1,316

 
32

Installment loans to individuals
—

 
—

 
—

 
—

 
—

Total
$
3,403

 
$
5,025

 
$
—

 
$
3,481

 
$
87

Totals
$
26,448

 
$
30,371

 
$
977

 
$
27,080

 
$
549

 
As of December 31, 2017
 
Year Ended December 31, 2017
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
With a related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
2,365

 
$
3,043

 
$
138

 
$
2,861

 
$
47

Lease financing
159

 
159

 
2

 
159

 
—

Real estate – construction
578

 
578

 
4

 
526

 
29

Real estate – 1-4 family mortgage
8,169

 
9,315

 
561

 
8,295

 
259

Real estate – commercial mortgage
9,652

 
12,463

 
1,861

 
9,316

 
206

Installment loans to individuals
117

 
121

 
1

 
130

 
3

Total
$
21,040

 
$
25,679

 
$
2,567

 
$
21,287

 
$
544

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

 
$
—

 
$
—

 
$
—

 
$
—

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
703

 
703

 
—

 
711

 
29

Real estate – commercial mortgage
—

 
—

 
—

 
—

 
—

Installment loans to individuals
—

 
—

 
—

 
—

 
—

Total
$
703

 
$
703

 
$
—

 
$
711

 
$
29

Totals
$
21,743

 
$
26,382

 
$
2,567

 
$
21,998

 
$
573

Non credit deteriorated loans that were subsequently impaired and recognized in conformity with ASC 310, segregated by class, were as follows as of the dates and for the periods presented: 
 
As of December 31, 2018
 
Year Ended December 31, 2018
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
With a related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
600

 
$
658

 
$
173

 
$
614

 
$
10

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
576

 
576

 
5

 
576

 
6

Real estate – 1-4 family mortgage
1,381

 
1,404

 
18

 
1,362

 
18

Real estate – commercial mortgage
2,066

 
2,116

 
338

 
2,011

 
40

Installment loans to individuals
246

 
247

 
3

 
247

 
1

Total
$
4,869

 
$
5,001

 
$
537

 
$
4,810

 
$
75

With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
11

 
$
13

 
$
—

 
$
13

 
$
1

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
3,780

 
4,383

 
—

 
4,407

 
111

Real estate – commercial mortgage
146

 
150

 
—

 
159

 
7

Installment loans to individuals
24

 
33

 
—

 
7

 
—

Total
$
3,961

 
$
4,579

 
$
—

 
$
4,586

 
$
119

Totals
$
8,830

 
$
9,580

 
$
537

 
$
9,396

 
$
194

 
As of December 31, 2017
 
Year Ended December 31, 2017
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
With a related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
625

 
$
678

 
$
52

 
$
618

 
$
21

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
1,385

 
1,433

 
45

 
1,419

 
18

Real estate – commercial mortgage
728

 
733

 
6

 
751

 
26

Installment loans to individuals
154

 
155

 
4

 
155

 
—

Total
$
2,892

 
$
2,999

 
$
107

 
$
2,943

 
$
65

With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
74

 
$
79

 
$
—

 
$
75

 
$
3

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
1,199

 
1,207

 
—

 
318

 
47

Real estate – 1-4 family mortgage
4,225

 
4,740

 
—

 
4,161

 
176

Real estate – commercial mortgage
165

 
168

 
—

 
177

 
8

Installment loans to individuals
9

 
10

 
—

 
13

 
—

Total
$
5,672

 
$
6,204

 
$
—

 
$
4,744

 
$
234

Totals
$
8,564

 
$
9,203

 
$
107

 
$
7,687

 
$
299
Purchased credit deteriorated loans
Credit deteriorated loans recognized in conformity with ASC 310-30, segregated by class, were as follows as of the dates and for the periods presented: 
 
As of December 31, 2018
 
Year Ended December 31, 2018
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
With a related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
3,779

 
$
4,071

 
$
161

 
$
4,276

 
$
204

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
12,169

 
12,601

 
488

 
12,894

 
647

Real estate – commercial mortgage
62,003

 
65,273

 
1,901

 
65,756

 
3,201

Installment loans to individuals
660

 
660

 
2

 
675

 
29

Total
$
78,611

 
$
82,605

 
$
2,552

 
$
83,601

 
$
4,081

With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
25,364

 
$
40,332

 
$
—

 
$
12,102

 
$
669

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
36,074

 
41,222

 
—

 
36,801

 
1,647

Real estate – commercial mortgage
78,435

 
100,427

 
—

 
78,368

 
3,578

Installment loans to individuals
3,770

 
7,630

 
—

 
2,095

 
109

Total
$
143,643

 
$
189,611

 
$
—

 
$
129,366

 
$
6,003

Totals
$
222,254

 
$
272,216

 
$
2,552

 
$
212,967

 
$
10,084

 
As of December 31, 2017
 
Year Ended December 31, 2017
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Average
Recorded
Investment
 
Interest
Income
Recognized
With a related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
5,768

 
$
6,004

 
$
312

 
$
5,672

 
$
259

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
15,910

 
16,752

 
572

 
16,837

 
793

Real estate – commercial mortgage
65,108

 
69,029

 
892

 
68,168

 
3,333

Installment loans to individuals
698

 
698

 
1

 
710

 
25

Total
$
87,484

 
$
92,483

 
$
1,777

 
$
91,387

 
$
4,410

With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
9,547

 
$
18,175

 
$
—

 
$
9,208

 
$
989

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
38,059

 
48,297

 
—

 
46,983

 
1,993

Real estate – commercial mortgage
91,230

 
117,691

 
—

 
104,485

 
5,431

Installment loans to individuals
940

 
1,063

 
—

 
1,109

 
46

Total
$
139,776

 
$
185,226

 
$
—

 
$
161,785

 
$
8,459

Totals
$
227,260

 
$
277,709

 
$
1,777

 
$
253,172

 
$
12,869
Restructured loans
 
Number of
Loans
 
Pre-Modification
Outstanding
Recorded
Investment
 
Post-Modification
Outstanding
Recorded
Investment
December 31, 2018
 
 
 
 
 
Commercial, financial, agricultural
—

 
$
—

 
$
—

Lease financing
—

 
—

 
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
9

 
1,764

 
1,763

Real estate – commercial mortgage
2

 
94

 
89

Installment loans to individuals
—

 
—

 
—

Total
11

 
$
1,858

 
$
1,852

December 31, 2017
 
 
 
 
 
Commercial, financial, agricultural
2

 
$
331

 
$
330

Lease financing
—

 
—

 
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
8

 
598

 
586

Real estate – commercial mortgage
3

 
683

 
313

Installment loans to individuals
1

 
4

 
3

Total
14

 
$
1,616

 
$
1,232

December 31, 2016
 
 
 
 
 
Commercial, financial, agricultural
—

 
$
—

 
$
—

Lease financing
—

 
—

 
—

Real estate – construction
1

 
510

 
518

Real estate – 1-4 family mortgage
11

 
1,188

 
1,167

Real estate – commercial mortgage
—

 
—

 
—

Installment loans to individuals
—

 
—

 
—

Total
12

 
$
1,698

 
$
1,685

The following table illustrates the impact of modifications classified as restructured loans held on the Consolidated Balance Sheets and still performing in accordance with their restructured terms at period end, segregated by class, as of the periods presented.
 
Number of
Loans
 
Pre-Modification
Outstanding
Recorded
Investment
 
Post-Modification
Outstanding
Recorded
Investment
December 31, 2018
 
 
 
 
 
Commercial, financial, agricultural
1

 
$
48

 
$
44

Lease financing
—

 
—

 
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
2

 
142

 
127

Real estate – commercial mortgage
2

 
522

 
381

Installment loans to individuals
—

 
—

 
—

Total
5

 
$
712

 
$
552

December 31, 2017
 
 
 
 
 
Commercial, financial, agricultural
—

 
$
—

 
$
—

Lease financing
—

 
—

 
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
23

 
3,744

 
3,127

Real estate – commercial mortgage
5

 
3,115

 
2,231

Installment loans to individuals
—

 
—

 
—

Total
28

 
$
6,859

 
$
5,358

December 31, 2016
 
 
 
 
 
Commercial, financial, agricultural
1

 
$
41

 
$
17

Lease financing
—

 
—

 
—

Real estate – construction
—

 
—

 
—

Real estate – 1-4 family mortgage
17

 
1,608

 
1,269

Real estate – commercial mortgage
5

 
1,623

 
1,079

Installment loans to individuals
—

 
—

 
—

Total
23

 
$
3,272

 
$
2,365
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
16

 
1,453

Reclassified as performing
2

 
183

Reductions due to:
 
 
 
Reclassified as nonperforming
(7
)
 
(853
)
Paid in full
(8
)
 
(1,165
)
Charge-offs
(1
)
 
(250
)
Principal paydowns
—

 
(304
)
Lapse of concession period
(1
)
 
(923
)
Totals at December 31, 2017
54

 
$
5,588

Additional loans with concessions
11

 
1,861

Reclassified as performing
3

 
295

Reductions due to:
 
 
 
Reclassified as nonperforming
(8
)
 
(639
)
Paid in full
(9
)
 
(1,556
)
Principal paydowns
—

 
(224
)
Totals at December 31, 2018
51

 
$
5,325

During the years ended December 31, 2017 and 2016, the Company had $212 and $54, respectively, in troubled debt restructurings that subsequently defaulted within twelve months of the restructuring. There was no such occurrence for the year ended December 31, 2018.

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
36

 
5,703

Reclassified from nonperforming
9

 
838

Reductions due to:
 
 
 
Reclassified as nonperforming
(10
)
 
(786
)
Paid in full
(3
)
 
(323
)
Charge-offs
(1
)
 
(17
)
Principal paydowns
—

 
(377
)
Lapse of concession period
(1
)
 
(101
)
Totals at December 31, 2017
72

 
$
8,965

Additional loans with concessions
5

 
712

Reclassified from nonperforming
4

 
435

Reductions due to:
 
 
 
Reclassified as nonperforming
(13
)
 
(1,229
)
Paid in full
(14
)
 
(744
)
Principal paydowns
—

 
(644
)
Totals at December 31, 2018
54

 
$
7,495
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, 2018
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
615,803

 
$
18,326

 
$
6,973

 
$
641,102

Real estate – construction
558,494

 
2,317

 
8,157

 
568,968

Real estate – 1-4 family mortgage
321,564

 
4,660

 
4,260

 
330,484

Real estate – commercial mortgage
2,210,100

 
54,579

 
24,144

 
2,288,823

Installment loans to individuals
—

 
—

 
—

 
—

Total
$
3,705,961

 
$
79,882

 
$
43,534

 
$
3,829,377

December 31, 2017
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
554,943

 
$
11,496

 
$
4,402

 
$
570,841

Real estate – construction
483,498

 
662

 
81

 
484,241

Real estate – 1-4 family mortgage
254,643

 
505

 
8,697

 
263,845

Real estate – commercial mortgage
1,983,750

 
50,428

 
24,241

 
2,058,419

Installment loans to individuals
921

 
—

 
—

 
921

Total
$
3,277,755

 
$
63,091

 
$
37,421

 
$
3,378,267

The following table presents the Company’s loan portfolio by risk-rating grades as of the dates presented:
 
Pass
 
Watch
 
Substandard
 
Total
December 31, 2018
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
333,147

 
$
33,857

 
$
2,744

 
$
369,748

Real estate – construction
101,122

 
—

 
842

 
101,964

Real estate – 1-4 family mortgage
113,874

 
7,347

 
7,585

 
128,806

Real estate – commercial mortgage
1,198,540

 
43,046

 
9,984

 
1,251,570

Installment loans to individuals
—

 
—

 
2

 
2

Total
$
1,746,683

 
$
84,250

 
$
21,157

 
$
1,852,090

December 31, 2017
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
241,195

 
$
4,974

 
$
2,824

 
$
248,993

Real estate – construction
81,220

 
—

 
—

 
81,220

Real estate – 1-4 family mortgage
91,369

 
2,498

 
6,172

 
100,039

Real estate – commercial mortgage
827,372

 
17,123

 
9,003

 
853,498

Installment loans to individuals
678

 
—

 
3

 
681

Total
$
1,241,834

 
$
24,595

 
$
18,002

 
$
1,284,431
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, 2018
 
 
 
 
 
Commercial, financial, agricultural
$
233,046

 
$
1,501

 
$
234,547

Lease financing
61,776

 
89

 
61,865

Real estate – construction
66,551

 
—

 
66,551

Real estate – 1-4 family mortgage
1,751,994

 
5,412

 
1,757,406

Real estate – commercial mortgage
338,367

 
1,175

 
339,542

Installment loans to individuals
100,099

 
325

 
100,424

Total
$
2,551,833

 
$
8,502

 
$
2,560,335

December 31, 2017
 
 
 
 
 
Commercial, financial, agricultural
$
191,473

 
$
1,509

 
$
192,982

Lease financing
53,854

 
159

 
54,013

Real estate – construction
63,417

 
—

 
63,417

Real estate – 1-4 family mortgage
1,462,347

 
3,342

 
1,465,689

Real estate – commercial mortgage
330,441

 
1,216

 
331,657

Installment loans to individuals
102,409

 
122

 
102,531

Total
$
2,203,941

 
$
6,348

 
$
2,210,289

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, 2018
 
 
 
 
 
Commercial, financial, agricultural
$
21,303

 
$
69

 
$
21,372

Lease financing
—

 
—

 
—

Real estate – construction
3,185

 
—

 
3,185

Real estate – 1-4 family mortgage
526,699

 
3,705

 
530,404

Real estate – commercial mortgage
30,951

 
185

 
31,136

Installment loans to individuals
32,676

 
300

 
32,976

Total
$
614,814

 
$
4,259

 
$
619,073

December 31, 2017
 
 
 
 
 
Commercial, financial, agricultural
$
11,216

 
$
46

 
$
11,262

Lease financing
—

 
—

 
—

Real estate – construction
4,511

 
—

 
4,511

Real estate – 1-4 family mortgage
459,038

 
1,141

 
460,179

Real estate – commercial mortgage
27,495

 
123

 
27,618

Installment loans to individuals
16,344

 
161

 
16,505

Total
$
518,604

 
$
1,471

 
$
520,075
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
December 31, 2018
 
 
Commercial, financial, agricultural
 
$
29,143

Lease financing
 
—

Real estate – construction
 
—

Real estate – 1-4 family mortgage
 
48,243

Real estate – commercial mortgage
 
140,438

Installment loans to individuals
 
4,430

Total
 
$
222,254

December 31, 2017
 
 
Commercial, financial, agricultural
 
$
15,315

Lease financing
 
—

Real estate – construction
 
—

Real estate – 1-4 family mortgage
 
53,969

Real estate – commercial mortgage
 
156,338

Installment loans to individuals
 
1,638

Total
 
$
227,260
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: 
 
Total Purchased Credit Deteriorated Loans
December 31, 2018
 
Contractually-required principal and interest
$
319,214

Nonaccretable difference(1)
(62,695
)
Cash flows expected to be collected
256,519

Accretable yield(2)
(34,265
)
Fair value
$
222,254

December 31, 2017
 
Contractually-required principal and interest
$
316,854

Nonaccretable difference(1)
(57,387
)
Cash flows expected to be collected
259,467

Accretable yield(2)
(32,207
)
Fair value
$
227,260

(1)
Represents contractual principal cash flows of $52,061 and $48,345, respectively, and interest cash flows of $10,634 and $9,042, respectively, not expected to be collected.
(2)
Represents contractual principal cash flows of $1,667 and $1,640, respectively, and interest cash flows of $32,598 and $30,567, respectively, expected to be collected.
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
$
(37,473
)
Additions through acquisition
(1,777
)
Reclasses from nonaccretable difference
(9,750
)
Accretion
15,560

Charge-off
1,233

Balance at December 31, 2017
$
(32,207
)
Additions through acquisition
(10,143
)
Reclasses from nonaccretable difference
(7,883
)
Accretion
15,340

Charge-off
628

Balance at December 31, 2018
$
(34,265
)
Investment in loans, net of unearned income on impairment methodology
The following table presents the fair value of loans purchased from Brand as of the September 1, 2018 acquisition date.
At acquisition date:
 
September 1, 2018
  Contractually-required principal and interest
 
$
1,625,137

  Nonaccretable difference
 
(123,399
)
  Cash flows expected to be collected
 
1,501,738

  Accretable yield
 
(170,651
)
      Fair value
 
$
1,331,087

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
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
2,445

 
$
10,043

 
$
14,238

 
$
8,059

 
$
493

 
$
35,278

Collectively evaluated for impairment
1,264,324

 
730,625

 
2,732,862

 
3,903,012

 
194,774

 
8,825,597

Acquired with deteriorated credit quality
29,143

 
—

 
48,243

 
140,438

 
4,430

 
222,254

Ending balance
$
1,295,912

 
$
740,668

 
$
2,795,343

 
$
4,051,509

 
$
199,697

 
$
9,083,129

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

Acquired 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.