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Purchased Loans (Tables)
 6 Months Ended
Jun. 30, 2019
Receivables [Abstract]  
Summary of purchased loans
The following is a summary of non purchased loans and leases as of the dates presented:
 
 
June 30,
2019
 
December 31, 2018
Commercial, financial, agricultural
$
930,598

 
$
875,649

Lease financing
62,026

 
64,992

Real estate – construction
716,129

 
635,519

Real estate – 1-4 family mortgage
2,160,617

 
2,087,890

Real estate – commercial mortgage
2,741,402

 
2,628,365

Installment loans to individuals
96,384

 
100,424

Gross loans
6,707,156

 
6,392,839

Unearned income
(2,868
)
 
(3,127
)
Loans, net of unearned income
$
6,704,288

 
$
6,389,712


The following is a summary of purchased loans as of the dates presented:
 
 
June 30,
2019
 
December 31, 2018
Commercial, financial, agricultural
$
374,478

 
$
420,263

Real estate – construction
65,402

 
105,149

Real estate – 1-4 family mortgage
604,855

 
707,453

Real estate – commercial mortgage
1,276,567

 
1,423,144

Installment loans to individuals
29,064

 
37,408

Gross loans
2,350,366

 
2,693,417

Unearned income
—

 
—

Loans, net of unearned income
$
2,350,366

 
$
2,693,417


The following is a summary of total non purchased and purchased loans as of the dates presented:
 
 
June 30,
2019
 
December 31, 2018
Commercial, financial, agricultural
$
1,305,076

 
$
1,295,912

Lease financing
62,026

 
64,992

Real estate – construction
781,531

 
740,668

Real estate – 1-4 family mortgage
2,765,472

 
2,795,343

Real estate – commercial mortgage
4,017,969

 
4,051,509

Installment loans to individuals
125,448

 
137,832

Gross loans
9,057,522

 
9,086,256

Unearned income
(2,868
)
 
(3,127
)
Loans, net of unearned income
9,054,654

 
9,083,129

Allowance for loan losses
(50,059
)
 
(49,026
)
Net loans
$
9,004,595

 
$
9,034,103
Aging of 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, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,945

 
$
155

 
$
922,972

 
$
925,072

 
$
—

 
$
5,074

 
$
452

 
$
5,526

 
$
930,598

Lease financing
470

 
—

 
61,486

 
61,956

 
—

 
70

 
—

 
70

 
62,026

Real estate – construction
2,566

 
—

 
713,563

 
716,129

 
—

 
—

 
—

 
—

 
716,129

Real estate – 1-4 family mortgage
6,398

 
3,208

 
2,146,622

 
2,156,228

 
772

 
2,249

 
1,368

 
4,389

 
2,160,617

Real estate – commercial mortgage
2,835

 
778

 
2,733,595

 
2,737,208

 
68

 
2,343

 
1,783

 
4,194

 
2,741,402

Installment loans to individuals
444

 
34

 
95,817

 
96,295

 
4

 
85

 
—

 
89

 
96,384

Unearned income
—

 
—

 
(2,868
)
 
(2,868
)
 
—

 
—

 
—

 
—

 
(2,868
)
Total
$
14,658

 
$
4,175

 
$
6,671,187

 
$
6,690,020

 
$
844

 
$
9,821

 
$
3,603

 
$
14,268

 
$
6,704,288

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


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, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
3,755

 
$
796

 
$
368,967

 
$
373,518

 
$
—

 
$
638

 
$
322

 
$
960

 
$
374,478

Real estate – construction
107

 
—

 
65,295

 
65,402

 
—

 
—

 
—

 
—

 
65,402

Real estate – 1-4 family mortgage
5,080

 
3,044

 
592,308

 
600,432

 
480

 
1,838

 
2,105

 
4,423

 
604,855

Real estate – commercial mortgage
3,404

 
3,747

 
1,267,915

 
1,275,066

 
108

 
1,062

 
331

 
1,501

 
1,276,567

Installment loans to individuals
414

 
100

 
28,184

 
28,698

 
—

 
113

 
253

 
366

 
29,064

Total
$
12,760

 
$
7,687

 
$
2,322,669

 
$
2,343,116

 
$
588

 
$
3,651

 
$
3,011

 
$
7,250

 
$
2,350,366

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,811

 
$
97

 
$
417,786

 
$
419,694

 
$
—

 
$
477

 
$
92

 
$
569

 
$
420,263

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

Total
$
19,080

 
$
7,232

 
$
2,661,269

 
$
2,687,581

 
$
204

 
$
3,783

 
$
1,849

 
$
5,836

 
$
2,693,417
Impaired loans
Loans accounted for under FASB 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, 2019
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
5,888

 
$
5,652

 
$
—

 
$
5,652

 
$
1,128

Lease financing
70

 
70

 
—

 
70

 
1

Real estate – construction
9,309

 
800

 
8,509

 
9,309

 
6

Real estate – 1-4 family mortgage
10,882

 
10,548

 
—

 
10,548

 
167

Real estate – commercial mortgage
8,219

 
4,566

 
1,159

 
5,725

 
319

Installment loans to individuals
94

 
89

 
—

 
89

 
1

Total
$
34,462

 
$
21,725

 
$
9,668

 
$
31,393

 
$
1,622

December 31, 2018
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
2,280

 
$
1,834

 
$
—

 
$
1,834

 
$
163

Lease financing
—

 
—

 
—

 
—

 
—

Real estate – construction
9,467

 
7,302

 
2,165

 
9,467

 
63

Real estate – 1-4 family mortgage
9,767

 
9,077

 
—

 
9,077

 
61

Real estate – commercial mortgage
8,625

 
4,609

 
1,238

 
5,847

 
689

Installment loans to individuals
232

 
223

 
—

 
223

 
1

Totals
$
30,371

 
$
23,045

 
$
3,403

 
$
26,448

 
$
977


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, 2019
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
1,038

 
$
687

 
$
335

 
$
1,022

 
$
63

Real estate – construction
256

 
256

 
—

 
256

 
2

Real estate – 1-4 family mortgage
6,095

 
2,194

 
3,234

 
5,428

 
21

Real estate – commercial mortgage
2,110

 
1,851

 
213

 
2,064

 
163

Installment loans to individuals
386

 
324

 
41

 
365

 
3

Total
$
9,885

 
$
5,312

 
$
3,823

 
$
9,135

 
$
252

December 31, 2018
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
671

 
$
600

 
$
11

 
$
611

 
$
173

Real estate – construction
576

 
576

 
—

 
576

 
5

Real estate – 1-4 family mortgage
5,787

 
1,381

 
3,780

 
5,161

 
18

Real estate – commercial mortgage
2,266

 
2,066

 
146

 
2,212

 
338

Installment loans to individuals
280

 
246

 
24

 
270

 
3

Totals
$
9,580

 
$
4,869

 
$
3,961

 
$
8,830

 
$
537


Loans accounted for under ASC 310-30, “Loans and Debt Securities Acquired with Deteriorated Credit Quality” (“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, 2019
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
38,140

 
$
4,064

 
$
19,562

 
$
23,626

 
$
171

Real estate – 1-4 family mortgage
51,209

 
10,753

 
31,926

 
42,679

 
515

Real estate – commercial mortgage
142,859

 
58,507

 
63,191

 
121,698

 
1,978

Installment loans to individuals
6,660

 
658

 
2,684

 
3,342

 
2

Total
$
238,868

 
$
73,982

 
$
117,363

 
$
191,345

 
$
2,666

December 31, 2018
 
 
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
44,403

 
$
3,779

 
$
25,364

 
$
29,143

 
$
161

Real estate – 1-4 family mortgage
53,823

 
12,169

 
36,074

 
48,243

 
488

Real estate – commercial mortgage
165,700

 
62,003

 
78,435

 
140,438

 
1,901

Installment loans to individuals
8,290

 
660

 
3,770

 
4,430

 
2

Totals
$
272,216

 
$
78,611

 
$
143,643

 
$
222,254

 
$
2,552
Investment and interest income recognized on impaired 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, 2019
 
June 30, 2018
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
5,746

 
$
9

 
$
2,663

 
$
8

Lease financing
88

 
—

 
335

 
—

Real estate – construction
9,015

 
105

 
—

 
—

Real estate – 1-4 family mortgage
10,584

 
51

 
7,442

 
57

Real estate – commercial mortgage
5,812

 
38

 
5,807

 
38

Installment loans to individuals
90

 
1

 
106

 
1

Total
$
31,335

 
$
204

 
$
16,353

 
$
104

 
Six Months Ended
 
Six Months Ended
 
June 30, 2019
 
June 30, 2018
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
5,773

 
$
18

 
$
2,653

 
$
19

Lease financing
87

 
—

 
335

 
—

Real estate – construction
8,986

 
210

 
—

 
—

Real estate – 1-4 family mortgage
10,640

 
103

 
7,507

 
123

Real estate – commercial mortgage
5,851

 
81

 
6,041

 
130

Installment loans to individuals
90

 
2

 
108

 
2

Total
$
31,427

 
$
414

 
$
16,644

 
$
274


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, 2019
 
June 30, 2018
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
23,976

 
$
388

 
$
12,815

 
$
192

Real estate – 1-4 family mortgage
43,011

 
571

 
54,634

 
647

Real estate – commercial mortgage
122,455

 
1,674

 
162,712

 
1,933

Installment loans to individuals
3,560

 
95

 
1,651

 
18

Total
$
193,002

 
$
2,728

 
$
231,812

 
$
2,790


 
 
 
 
 
 
 
 
 
Six Months Ended
 
Six Months Ended
 
June 30, 2019
 
June 30, 2018
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
25,667

 
$
863

 
$
13,051

 
$
417

Lease financing
—

 
—

 
—

 
—

Real estate – construction
—

 
—

 
—

 
—

Real estate – 1-4 family mortgage
43,360

 
1,161

 
55,293

 
1,320

Real estate – commercial mortgage
123,526

 
3,474

 
163,959

 
3,905

Installment loans to individuals
3,780

 
201

 
1,640

 
36

Total
$
196,333

 
$
5,699

 
$
233,943

 
$
5,678



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, 2019
 
June 30, 2018
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
1,010

 
$
2

 
$
380

 
$
3

Real estate – construction
256

 
—

 
—

 
—

Real estate – 1-4 family mortgage
5,415

 
36

 
5,135

 
34

Real estate – commercial mortgage
2,082

 
12

 
1,462

 
12

Installment loans to individuals
370

 
—

 
247

 
—

Total
$
9,133

 
$
50

 
$
7,224

 
$
49

 
 
 
 
 
 
 
 
 
Six Months Ended
 
Six Months Ended
 
June 30, 2019
 
June 30, 2018
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial, agricultural
$
941

 
$
4

 
$
383

 
$
6

Lease financing
—

 
—

 
—

 
—

Real estate – construction
256

 
3

 
—

 
—

Real estate – 1-4 family mortgage
5,450

 
66

 
5,252

 
74

Real estate – commercial mortgage
2,109

 
25

 
1,479

 
30

Installment loans to individuals
372

 
—

 
247

 
—

Total
$
9,128

 
$
98

 
$
7,361

 
$
110
Impact of modifications classified as restructured loans
The tables below illustrate the impact of modifications classified as restructured loans which were made during the periods presented and held on the Consolidated Balance Sheets at the respective period end.
 
 
 
 
 
 
 
 
Number of
Loans
 
Pre-
Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
Three months ended June 30, 2019
 
 
 
 
 
Commercial, financial, agricultural
2

 
$
187

 
$
185

Real estate – 1-4 family mortgage
3

 
$
305

 
$
304

Total
5

 
$
492

 
$
489

Three months ended June 30, 2018
 
 
 
 
 
Real estate – 1-4 family mortgage
1

 
$
49

 
$
49

Total
1

 
$
49

 
$
49

 
 
 
 
 
 
 
Number of
Loans
 
Pre-
Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
Six months ended June 30, 2019
 
 
 
 
 
Commercial, financial, agricultural
2

 
$
187

 
$
185

Real estate – 1-4 family mortgage
3

 
$
305

 
$
304

Total
5

 
$
492

 
$
489

Six months ended June 30, 2018
 
 
 
 
 
Real estate – 1-4 family mortgage
4

 
$
625

 
$
625

Real estate – commercial mortgage
1

 
83

 
78

Total
5

 
$
708

 
$
703


The tables below illustrate the impact of modifications classified as restructured loans which were made during the periods presented and held on the Consolidated Balance Sheets at the respective period end.

 
 
Number of
Loans
 
Pre-
Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
 
 
 
 
 
 
Three months ended June 30, 2019
 
 
 
 
 
Commercial, financial, agricultural
1

 
$
2,520

 
$
2,520

Real estate – commercial mortgage
1

 
80

 
76

Total
2

 
$
2,600

 
$
2,596

Three months ended June 30, 2018
 
 
 
 
 
Real estate – 1-4 family mortgage
1

 
$
18

 
$
17

Total
1

 
$
18

 
$
17




 
 
 
 
 
 
 
Number of
Loans
 
Pre-
Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
Six months ended June 30, 2019
 
 
 
 
 
Commercial, financial, agricultural
1

 
$
2,520

 
$
2,520

Real estate – commercial mortgage
1

 
80

 
76

Total
2

 
$
2,600

 
$
2,596

Six months ended June 30, 2018
 
 
 
 
 
Commercial, financial, agricultural
1

 
$
48

 
$
44

Real estate – 1-4 family mortgage
1

 
$
18

 
$
17

Real estate – commercial mortgage
1

 
8

 
7

Total
3

 
$
74

 
$
68
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, 2019
51

 
$
5,325

Additional advances or loans with concessions
5

 
498

Reclassified as performing restructured loan
1

 
41

Reductions due to:
 
 
 
Reclassified as nonperforming
(5
)
 
(465
)
Paid in full
(5
)
 
(414
)
Principal paydowns
—

 
(85
)
Totals at June 30, 2019
47

 
$
4,900


Changes in the Company’s restructured loans are set forth in the table below:
 
 
Number of
Loans
 
Recorded
Investment
Totals at January 1, 2019
54

 
$
7,495

Additional advances or loans with concessions
2

 
2,823

Reclassified as performing restructured loan
5

 
1,461

Reductions due to:
 
 
 
Reclassified to nonperforming loans
(9
)
 
(746
)
Paid in full
(5
)
 
(128
)
Principal paydowns
—

 
(296
)
Totals at June 30, 2019
47

 
$
10,609
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, 2019
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
695,794

 
$
13,891

 
$
13,677

 
$
723,362

Real estate – construction
641,131

 
2,759

 
8,872

 
652,762

Real estate – 1-4 family mortgage
321,905

 
4,561

 
3,170

 
329,636

Real estate – commercial mortgage
2,330,319

 
60,671

 
23,241

 
2,414,231

Installment loans to individuals
30

 
—

 
—

 
30

Total
$
3,989,179

 
$
81,882

 
$
48,960

 
$
4,120,021

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


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

 
Pass
 
Watch
 
Substandard
 
Total
June 30, 2019
 
 
 
 
 
 
 
Commercial, financial, agricultural
$
299,893

 
$
24,250

 
$
12,654

 
$
336,797

Real estate – construction
63,553

 
—

 
—

 
63,553

Real estate – 1-4 family mortgage
91,968

 
4,979

 
6,234

 
103,181

Real estate – commercial mortgage
1,048,170

 
63,602

 
13,542

 
1,125,314

Installment loans to individuals
—

 
—

 
1

 
1

Total
$
1,503,584

 
$
92,831

 
$
32,431

 
$
1,628,846

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
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, 2019
 
 
 
 
 
Commercial, financial, agricultural
$
205,501

 
$
1,735

 
$
207,236

Lease financing
59,088

 
70

 
59,158

Real estate – construction
63,367

 
—

 
63,367

Real estate – 1-4 family mortgage
1,823,809

 
7,172

 
1,830,981

Real estate – commercial mortgage
325,144

 
2,027

 
327,171

Installment loans to individuals
96,232

 
122

 
96,354

Total
$
2,573,141

 
$
11,126

 
$
2,584,267

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


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, 2019
 
 
 
 
 
Commercial, financial, agricultural
$
14,006

 
$
49

 
$
14,055

Real estate – construction
1,849

 
—

 
1,849

Real estate – 1-4 family mortgage
455,510

 
3,485

 
458,995

Real estate – commercial mortgage
29,447

 
108

 
29,555

Installment loans to individuals
25,326

 
395

 
25,721

Total
$
526,138

 
$
4,037

 
$
530,175

December 31, 2018
 
 
 
 
 
Commercial, financial, agricultural
$
21,303

 
$
69

 
$
21,372

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
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, 2019
 
Commercial, financial, agricultural
$
23,626

Real estate – 1-4 family mortgage
42,679

Real estate – commercial mortgage
121,698

Installment loans to individuals
3,342

Total
$
191,345

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

Real estate – 1-4 family mortgage
48,243

Real estate – commercial mortgage
140,438

Installment loans to individuals
4,430

Total
$
222,254
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 that exhibited evidence of deteriorated credit quality at the time of acquisition at June 30, 2019:
 
 
Total Purchased Credit Deteriorated Loans
Contractually-required principal and interest
$
273,362

Nonaccretable difference(1)
(54,172
)
Cash flows expected to be collected
219,190

Accretable yield(2)
(27,845
)
Fair value
$
191,345

 
(1)
Represents contractual principal and interest cash flows of $45,518 and $8,654, respectively, not expected to be collected.
(2)
Represents contractual principal and interest cash flows of $1,584 and $26,260, 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 as of June 30, 2019:
 
Total Purchased Credit Deteriorated Loans
Balance at January 1, 2019
$
(34,265
)
Reclassification from nonaccretable difference
(4,470
)
Accretion
9,757

Charge-offs
1,133

Balance at June 30, 2019
$
(27,845
)
Fair value of loans purchased from KeyWorth
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
June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
6,675

 
$
9,565

 
$
15,976

 
$
7,789

 
$
525

 
$
40,530

Collectively evaluated for impairment
1,274,775

 
771,966

 
2,706,816

 
3,888,483

 
180,739

 
8,822,779

Purchased with deteriorated credit quality
23,626

 
—

 
42,680

 
121,697

 
3,342

 
191,345

Ending balance
$
1,305,076

 
$
781,531

 
$
2,765,472

 
$
4,017,969

 
$
184,606

 
$
9,054,654

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.