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Allowance for Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2019
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:
 
 
March 31,
2019
 
December 31, 2018
Commercial, financial, agricultural
$
921,081

 
$
875,649

Lease financing
61,539

 
64,992

Real estate – construction
651,119

 
635,519

Real estate – 1-4 family mortgage
2,114,908

 
2,087,890

Real estate – commercial mortgage
2,726,186

 
2,628,365

Installment loans to individuals
93,654

 
100,424

Gross loans
6,568,487

 
6,392,839

Unearned income
(2,888
)
 
(3,127
)
Loans, net of unearned income
$
6,565,599

 
$
6,389,712

The following is a summary of purchased loans as of the dates presented:
 
 
March 31,
2019
 
December 31, 2018
Commercial, financial, agricultural
$
387,376

 
$
420,263

Real estate – construction
89,954

 
105,149

Real estate – 1-4 family mortgage
654,265

 
707,453

Real estate – commercial mortgage
1,357,446

 
1,423,144

Installment loans to individuals
33,653

 
37,408

Gross loans
2,522,694

 
2,693,417

Unearned income
—

 
—

Loans, net of unearned income
$
2,522,694

 
$
2,693,417

The following is a summary of total non purchased and purchased loans as of the dates presented:
 
 
March 31,
2019
 
December 31, 2018
Commercial, financial, agricultural
$
1,308,457

 
$
1,295,912

Lease financing
61,539

 
64,992

Real estate – construction
741,073

 
740,668

Real estate – 1-4 family mortgage
2,769,173

 
2,795,343

Real estate – commercial mortgage
4,083,632

 
4,051,509

Installment loans to individuals
127,307

 
137,832

Gross loans
9,091,181

 
9,086,256

Unearned income
(2,888
)
 
(3,127
)
Loans, net of unearned income
9,088,293

 
9,083,129

Allowance for loan losses
(49,835
)
 
(49,026
)
Net loans
$
9,038,458

 
$
9,034,103
Roll forward of the allowance for loan losses
The following table provides a roll forward of the allowance for loan losses by loan category 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, 2019
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
8,269

 
$
4,755

 
$
10,139

 
$
24,492

 
$
1,371

 
$
49,026

Charge-offs
(258
)
 
—

 
(497
)
 
(562
)
 
(220
)
 
(1,537
)
Recoveries
374

 
7

 
197

 
245

 
23

 
846

Net recoveries (charge-offs)
116

 
7

 
(300
)
 
(317
)
 
(197
)
 
(691
)
Provision for loan losses charged to operations
1,237

 
16

 
(348
)
 
468

 
127

 
1,500

Ending balance
$
9,622

 
$
4,778

 
$
9,491

 
$
24,643

 
$
1,301

 
$
49,835

Period-End Amount Allocated to:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
1,181

 
$
58

 
$
127

 
$
842

 
$
5

 
$
2,213

Collectively evaluated for impairment
8,312

 
4,720

 
8,944

 
21,828

 
1,294

 
45,098

Purchased with deteriorated credit quality
129

 
—

 
420

 
1,973

 
2

 
2,524

Ending balance
$
9,622

 
$
4,778

 
$
9,491

 
$
24,643

 
$
1,301

 
$
49,835

(1)
Includes lease financing receivables.
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
Real Estate -
Construction
 
Real Estate -
1-4 Family
Mortgage
 
Real Estate  -
Commercial
Mortgage
 
Installment
and  Other(1)
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
5,542

 
$
3,428

 
$
12,009

 
$
23,384

 
$
1,848

 
$
46,211

Charge-offs
(659
)
 
—

 
(671
)
 
(613
)
 
(122
)
 
(2,065
)
Recoveries
235

 
4

 
133

 
108

 
25

 
505

Net (charge-offs) recoveries
(424
)
 
4

 
(538
)
 
(505
)
 
(97
)
 
(1,560
)
Provision for loan losses charged to operations
1,953

 
766

 
(67
)
 
(965
)
 
63

 
1,750

Ending balance
$
7,071

 
$
4,198

 
$
11,404

 
$
21,914

 
$
1,814

 
$
46,401

Period-End Amount Allocated to:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
272

 
$
1

 
$
168

 
$
1,026

 
$
5

 
$
1,472

Collectively evaluated for impairment
6,494

 
4,197

 
10,750

 
19,865

 
1,806

 
43,112

Purchased with deteriorated credit quality
305

 
—

 
486

 
1,023

 
3

 
1,817

Ending balance
$
7,071

 
$
4,198

 
$
11,404

 
$
21,914

 
$
1,814

 
$
46,401

(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 Brand as of the September 1, 2018 acquisition date.
At acquisition date:
 
September 1, 2018
  Contractually-required principal and interest
 
$
1,625,079

  Nonaccretable difference
 
(123,399
)
  Cash flows expected to be collected
 
1,501,680

  Accretable yield
 
(170,651
)
      Fair value
 
$
1,331,029



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, 2019
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
5,809

 
$
8,805

 
$
13,952

 
$
9,442

 
$
598

 
$
38,606

Collectively evaluated for impairment
1,277,801

 
732,268

 
2,711,397

 
3,937,908

 
181,467

 
8,840,841

Purchased with deteriorated credit quality
24,847

 
—

 
43,824

 
136,282

 
3,893

 
208,846

Ending balance
$
1,308,457

 
$
741,073

 
$
2,769,173

 
$
4,083,632

 
$
185,958

 
$
9,088,293

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

Purchased 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

 
(1)
Includes lease financing receivables.