XML 114 R33.htm IDEA: XBRL DOCUMENT v3.19.3
Allowance for Loan Losses (Tables)
 9 Months Ended
Sep. 30, 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:
 
 
September 30,
2019
 
December 31, 2018
Commercial, financial, agricultural
$
988,867

 
$
875,649

Lease financing
73,617

 
64,992

Real estate – construction
764,589

 
635,519

Real estate – 1-4 family mortgage
2,235,908

 
2,087,890

Real estate – commercial mortgage
2,809,470

 
2,628,365

Installment loans to individuals
163,031

 
100,424

Gross loans
7,035,482

 
6,392,839

Unearned income
(3,664
)
 
(3,127
)
Loans, net of unearned income
$
7,031,818

 
$
6,389,712


The following is a summary of purchased loans as of the dates presented:
 
 
September 30,
2019
 
December 31, 2018
Commercial, financial, agricultural
$
339,693

 
$
420,263

Real estate – construction
52,106

 
105,149

Real estate – 1-4 family mortgage
561,725

 
707,453

Real estate – commercial mortgage
1,212,905

 
1,423,144

Installment loans to individuals
115,537

 
37,408

Gross loans
2,281,966

 
2,693,417

Unearned income
—

 
—

Loans, net of unearned income
$
2,281,966

 
$
2,693,417


The following is a summary of total non purchased and purchased loans as of the dates presented:
 
 
September 30,
2019
 
December 31, 2018
Commercial, financial, agricultural
$
1,328,560

 
$
1,295,912

Lease financing
73,617

 
64,992

Real estate – construction
816,695

 
740,668

Real estate – 1-4 family mortgage
2,797,633

 
2,795,343

Real estate – commercial mortgage
4,022,375

 
4,051,509

Installment loans to individuals
278,568

 
137,832

Gross loans
9,317,448

 
9,086,256

Unearned income
(3,664
)
 
(3,127
)
Loans, net of unearned income
9,313,784

 
9,083,129

Allowance for loan losses
(50,814
)
 
(49,026
)
Net loans
$
9,262,970

 
$
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 September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
9,534

 
$
5,302

 
$
9,616

 
$
24,302

 
$
1,305

 
$
50,059

Charge-offs
(757
)
 
—

 
(268
)
 
(677
)
 
(3,263
)
 
(4,965
)
Recoveries
761

 
—

 
219

 
33

 
3,007

 
4,020

Net recoveries (charge-offs)
4

 
—

 
(49
)
 
(644
)
 
(256
)
 
(945
)
Provision for loan losses charged to operations
750

 
(175
)
 
282

 
381

 
462

 
1,700

Ending balance
$
10,288

 
$
5,127

 
$
9,849

 
$
24,039

 
$
1,511

 
$
50,814

 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
Real Estate -
Construction
 
Real Estate -
1-4 Family
Mortgage
 
Real Estate  -
Commercial
Mortgage
 
Installment
and  Other(1)
 
Total
Nine Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
8,269

 
$
4,755

 
$
10,139

 
$
24,492

 
$
1,371

 
$
49,026

Charge-offs
(1,709
)
 
—

 
(1,143
)
 
(1,406
)
 
(3,695
)
 
(7,953
)
Recoveries
1,376

 
7

 
531

 
644

 
3,083

 
5,641

Net (charge-offs) recoveries
(333
)
 
7

 
(612
)
 
(762
)
 
(612
)
 
(2,312
)
Provision for loan losses charged to operations
2,352

 
365

 
322

 
309

 
752

 
4,100

Ending balance
$
10,288

 
$
5,127

 
$
9,849

 
$
24,039

 
$
1,511

 
$
50,814

Period-End Amount Allocated to:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
1,382

 
$
24

 
$
186

 
$
450

 
$
3

 
$
2,045

Collectively evaluated for impairment
8,778

 
5,103

 
9,313

 
21,521

 
1,506

 
46,221

Purchased with deteriorated credit quality
128

 
—

 
350

 
2,068

 
2

 
2,548

Ending balance
$
10,288

 
$
5,127

 
$
9,849

 
$
24,039

 
$
1,511

 
$
50,814

(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 September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
7,146

 
$
4,702

 
$
11,657

 
$
22,450

 
$
1,400

 
$
47,355

Charge-offs
(511
)
 
—

 
(211
)
 
(216
)
 
(402
)
 
(1,340
)
Recoveries
24

 
3

 
119

 
152

 
47

 
345

Net (charge-offs) recoveries
(487
)
 
3

 
(92
)
 
(64
)
 
(355
)
 
(995
)
Provision for loan losses charged to operations
1,448

 
8

 
(1,497
)
 
2,041

 
250

 
2,250

Ending balance
$
8,107

 
$
4,713

 
$
10,068

 
$
24,427

 
$
1,295

 
$
48,610

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

 
$
3,428

 
$
12,009

 
$
23,384

 
$
1,848

 
$
46,211

Charge-offs
(1,627
)
 
—

 
(1,861
)
 
(875
)
 
(623
)
 
(4,986
)
Recoveries
373

 
10

 
335

 
756

 
101

 
1,575

Net (charge-offs) recoveries
(1,254
)
 
10

 
(1,526
)
 
(119
)
 
(522
)
 
(3,411
)
Provision for loan losses charged to operations
3,819

 
1,275

 
(415
)
 
1,162

 
(31
)
 
5,810

Ending balance
$
8,107

 
$
4,713

 
$
10,068

 
$
24,427

 
$
1,295

 
$
48,610

Period-End Amount Allocated to:
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
421

 
$
70

 
$
70

 
$
715

 
$
4

 
$
1,280

Collectively evaluated for impairment
7,326

 
4,643

 
9,493

 
21,751

 
1,289

 
44,502

Purchased with deteriorated credit quality
360

 
—

 
505

 
1,961

 
2

 
2,828

Ending balance
$
8,107

 
$
4,713

 
$
10,068

 
$
24,427

 
$
1,295

 
$
48,610

(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
 
(164,554
)
  Cash flows expected to be collected
 
1,460,525

  Accretable yield
 
(138,318
)
      Fair value
 
$
1,322,207



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
September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
8,124

 
$
12,380

 
$
17,332

 
$
11,755

 
$
455

 
$
50,046

Collectively evaluated for impairment
1,289,326

 
803,710

 
2,742,677

 
3,894,838

 
345,073

 
9,075,624

Purchased with deteriorated credit quality
31,110

 
605

 
37,624

 
115,782

 
2,993

 
188,114

Ending balance
$
1,328,560

 
$
816,695

 
$
2,797,633

 
$
4,022,375

 
$
348,521

 
$
9,313,784

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.