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Non Purchased Loans
 12 Months Ended
Dec. 31, 2020
Receivables [Abstract]  
Non Purchased Loans Non Purchased Loans
(In Thousands, Except Number of Loans)
“Purchased” loans are those loans acquired in any of the Company’s previous acquisitions, including FDIC-assisted acquisitions. “Non purchased” loans include all of the Company’s other loans, other than loans held for sale.
For purposes of this Note 3, all references to “loans” mean non purchased loans, including PPP loans.
The following is a summary of non purchased loans and leases at December 31: 
20202019
Commercial, financial, agricultural$2,360,471 $1,052,353 
Lease financing80,022 85,700 
Real estate – construction:
Residential243,814 272,643 
Commercial583,338 502,258 
Total real estate – construction827,152 774,901 
Real estate – 1-4 family mortgage:
Primary1,536,181 1,449,219 
Home equity432,768 456,265 
Rental/investment264,436 291,931 
Land development123,179 152,711 
Total real estate – 1-4 family mortgage2,356,564 2,350,126 
Real estate – commercial mortgage:
Owner-occupied1,334,765 1,209,204 
Non-owner occupied2,194,739 1,803,587 
Land development120,125 116,085 
Total real estate – commercial mortgage3,649,629 3,128,876 
Installment loans to individuals149,862 199,843 
Gross loans9,423,700 7,591,799 
Unearned income(4,160)(3,825)
Loans, net of unearned income$9,419,540 $7,587,974 
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 LoansNonaccruing 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, 2020
Commercial, financial, agricultural$1,124 $231 $2,354,716 $2,356,071 $164 $1,804 $2,432 $4,400 $2,360,471 
Lease financing— — 79,974 79,974 — 48 — 48 80,022 
Real estate – construction:
Residential— — 243,317 243,317 — 497 — 497 243,814 
Commercial— — 583,338 583,338 — — — — 583,338 
Total real estate – construction— — 826,655 826,655 — 497 — 497 827,152 
Real estate – 1-4 family mortgage:
Primary11,889 1,754 1,513,716 1,527,359 1,865 2,744 4,213 8,822 1,536,181 
Home equity1,152 360 430,702 432,214 66 111 377 554 432,768 
Rental/investment663 210 263,064 263,937 61 194 244 499 264,436 
Land development97 — 123,051 123,148 — — 31 31 123,179 
Total real estate – 1-4 family mortgage13,801 2,324 2,330,533 2,346,658 1,992 3,049 4,865 9,906 2,356,564 
Real estate – commercial mortgage:
Owner-occupied779 795 1,330,155 1,331,729 — 2,598 438 3,036 1,334,765 
Non-owner occupied922 127 2,191,440 2,192,489 — 2,197 53 2,250 2,194,739 
Land development113 115 119,820 120,048 44 29 4 77 120,125 
Total real estate – commercial mortgage1,814 1,037 3,641,415 3,644,266 44 4,824 495 5,363 3,649,629 
Installment loans to individuals896 191 148,620 149,707 4 117 34 155 149,862 
Unearned income— — (4,160)(4,160)— — — — (4,160)
Loans, net of unearned income$17,635 $3,783 $9,377,753 $9,399,171 $2,204 $10,339 $7,826 $20,369 $9,419,540 
December 31, 2019
Commercial, financial, agricultural$605 $476 $1,045,802 $1,046,883 $387 $5,023 $60 $5,470 $1,052,353 
Lease financing— — 85,474 85,474 — 226 — 226 85,700 
Real estate – construction794 — 774,107 774,901 — — — — 774,901 
Real estate – 1-4 family mortgage18,020 2,502 2,320,328 2,340,850 623 6,571 2,082 9,276 2,350,126 
Real estate – commercial mortgage2,362 276 3,119,785 3,122,423 372 4,655 1,426 6,453 3,128,876 
Installment loans to individuals1,000 204 198,555 199,759 — 17 67 84 199,843 
Unearned income— — (3,825)(3,825)— — — — (3,825)
Total$22,781 $3,458 $7,540,226 $7,566,465 $1,382 $16,492 $3,635 $21,509 $7,587,974 
Restructured loans that are not performing in accordance with their restructured terms that are either contractually 90 days or more past due or placed on nonaccrual status are reported as nonperforming loans. There were two restructured loans totaling $177 that were contractually 90 days past due or more and still accruing at December 31, 2020. There were two restructured loans totaling $164 that were contractually 90 days past due or more and still accruing at December 31, 2019. The outstanding balance of restructured loans on nonaccrual status was $5,787 and $3,058 at December 31, 2020 and 2019, respectively.
Restructured Loans
At December 31, 2020, 2019 and 2018, there were $11,761, $4,679 and $5,325, respectively, of restructured loans. 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, 2020
Commercial, financial, agricultural7 1,862 1,859 
Real estate – 1-4 family mortgage:
Primary20 3,594 3,659 
Rental/investment3 142 207 
Total real estate – 1-4 family mortgage23 3,736 3,866 
Real estate – commercial mortgage:
Owner-occupied3 3,019 2,970 
Non-owner occupied2 210 210 
Land development1 189 189 
Total real estate – commercial mortgage6 3,418 3,369 
Installment loans to individuals2 24 21 
Total38 9,040 9,115 
December 31, 2019
Commercial, financial, agricultural2 $187 $185 
Real estate – 1-4 family mortgage5 $460 $459 
Total7 $647 $644 
December 31, 2018
Real estate – 1-4 family mortgage9 1,764 1,763 
Real estate – commercial mortgage2 94 89 
Total11 $1,858 $1,852 
At December 31, 2020 and December 31, 2018 the Company had $448 and $139, respectively, in troubled debt restructurings that subsequently defaulted within twelve months of the restructuring. There were no such occurrences for the year ended December 31, 2019 that remained outstanding at period end.
Changes in the Company’s restructured loans are set forth in the table below.
Number of
Loans		Recorded
Investment
Totals at January 1, 201951 $5,325 
Additional advances or loans with concessions7 661 
Reclassified as performing5 252 
Reductions due to:
Reclassified as nonperforming(9)(808)
Paid in full(8)(581)
Principal paydowns— (170)
Totals at December 31, 201946 $4,679 
Additional advances or loans with concessions38 9,155 
Reclassified as performing3 354 
Reductions due to:
Reclassified as nonperforming(5)(758)
Paid in full(6)(1,409)
Principal paydowns— (260)
Totals at December 31, 202076 $11,761 
The allocated allowance for credit losses attributable to restructured loans was $337 and $125 at December 31, 2020 and 2019, respectively. The Company had no remaining availability under commitments to lend additional funds on these restructured loans at December 31, 2020 and December 31, 2019.
In response to the economic environment caused by the COVID-19 pandemic, the Company implemented a loan deferral program in the first quarter of 2020 to provide temporary payment relief to both consumer and commercial customers. Any customer current on loan payments, taxes and insurance is qualified for an initial 90-day deferral of principal and interest payments. Principal and interest payments can be deferred for up to 180 days on residential mortgage loans. A second deferral is available to borrowers that remained current on taxes and insurance through the first deferral period and also satisfy underwriting standards established by the Company that analyze the ability of the borrower to service its loan in accordance with its existing terms in light of the impact of the COVID-19 pandemic on the borrower, its industry and the markets in which it operates. The Company’s loan deferral program complies with the guidance set forth in the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act and related guidance from the FDIC and other banking regulators. As of December 31, 2020, the Company had 622 loans with total balances of approximately $112,000 on deferral. In accordance with the applicable guidance, none of these loans were considered “restructured loans.”
Credit Quality
For commercial purpose loans, internal risk-rating grades are assigned by lending, credit administration or loan review personnel, based on an analysis of the financial and collateral strength and other credit attributes underlying each loan. Management analyzes the resulting ratings, as well as other external statistics and factors such as delinquency, to track the migration performance of the portfolio balances of commercial and commercial real estate secured loans. Loan grades range between 1 and 9, with 1 being loans with the least credit risk. Loans within the “Pass” grade (historically, those with a risk rating between 1 and 4) generally have a lower risk of loss and therefore a lower risk factor applied to the loan balances. The “Pass” grade is reserved for loans with a risk rating between 1 and 4C. During the first quarter of 2020, the Company proactively identified certain “Pass” rated loans greater than $1,000 in industries the Company believed posed a greater risk in the current pandemic environment (at the time of the downgrade, borrowers in the hotel/motel, restaurant and entertainment industries) and created the risk rating of 4C. These were originally downgraded to “Pass-Watch” during the year as the Company reviewed these loans and its risk rating categories. After an extensive review, the Company determined that it was appropriate to classify 4B and 4C rated loans as “Pass”. The Company also determined that it would be appropriate to establish a “Special Mention” grade (those with a risk rating of 4E). This grade represents a loan where a significant adverse risk-modifying action is anticipated in the near term and left uncorrected, could result in deterioration of the credit quality of the loan. In 2019, the Company classified 4B and 4E rated loans as “Watch”, which was used on a temporary basis for “Pass”
graded loans that required greater attention. Loans that migrate toward the “Substandard” grade (those with a risk rating between 5 and 9) generally have a higher risk of loss and therefore a higher risk factor applied to those related loan balances.  
The following table presents the Company’s loan portfolio by year of origination and internal risk-rating grades as of the dates presented:
 Term Loans Amortized Cost Basis by Origination Year
 20202019201820172016PriorRevolving LoansRevolving Loans Converted to TermTotal
Loans
December 31, 2020
Commercial, Financial, Agricultural$1,448,273 $183,627 $76,912 $36,866 $18,124 $15,844 $255,522 $2,449 $2,037,617 
Pass1,447,594 180,979 73,325 31,362 16,308 14,626 250,528 1,562 2,016,284 
Special Mention128 1,952 2,091 3,850 1,416 109 187 — 9,733 
Substandard551 696 1,496 1,654 400 1,109 4,807 887 11,600 
Real Estate - Construction$398,891 $266,471 $52,520 $29,300 $— $— $13,927 $— $761,109 
Residential$154,649 $9,836 $2,114 $— $— $— $13,923 $— $180,522 
Pass154,419 9,339 2,114 — — — 13,923 — 179,795 
Special Mention— — — — — — — — — 
Substandard230 497 — — — — — — 727 
Commercial$244,242 $256,635 $50,406 $29,300 $— $— $4 $— $580,587 
Pass244,242 251,937 50,406 29,300 — — 4 — 575,889 
Special Mention— 4,698 — — — — — — 4,698 
Substandard— — — — — — — — — 
Real Estate - 1-4 Family Mortgage$110,246 $78,482 $36,613 $30,018 $13,197 $7,172 $10,658 $1,909 $288,295 
Primary$9,422 $6,691 $3,988 $4,644 $371 $1,060 $629 $— $26,805 
Pass9,422 5,870 3,988 4,644 371 1,045 629 — 25,969 
Special Mention— 125 — — — — — — 125 
Substandard— 696 — — — 15 — — 711 
Home Equity$157 $184 $— $— $— $— $6,051 $— $6,392 
Pass157 184 — — — — 6,051 — 6,392 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Rental/Investment$50,558 $32,656 $27,483 $25,019 $12,620 $5,699 $1,066 $557 $155,658 
Pass50,371 31,724 26,695 24,872 12,439 5,166 1,066 557 152,890 
Special Mention— — — 83 77 133 — — 293 
Substandard187 932 788 64 104 400 — — 2,475 
Land Development$50,109 $38,951 $5,142 $355 $206 $413 $2,912 $1,352 $99,440 
Pass50,109 38,388 5,142 355 203 413 2,912 1,352 98,874 
Special Mention— — — — — — — — — 
Substandard— 563 — — 3 — — — 566 
Real Estate - Commercial Mortgage$967,746 $801,083 $444,205 $402,110 $340,774 $277,789 $76,115 $20,845 $3,330,667 
Owner-Occupied$295,642 $256,807 $199,082 $169,527 $99,540 $85,614 $16,683 $9,733 $1,132,628 
Pass293,851 255,206 193,716 163,358 96,128 83,582 16,043 7,896 1,109,780 
Special Mention1,167 847 — 2,067 228 311 — 1,837 6,457 
Substandard624 754 5,366 4,102 3,184 1,721 640 — 16,391 
Non-Owner Occupied$635,232 $522,998 $237,075 $229,304 $236,347 $189,077 $52,456 $11,112 $2,113,601 
Pass624,289 514,030 237,075 184,673 218,106 175,702 52,456 11,112 2,017,443 
Special Mention9,105 — — 39,007 4,688 10,788 — — 63,588 
Substandard1,838 8,968 — 5,624 13,553 2,587 — — 32,570 
 Term Loans Amortized Cost Basis by Origination Year
 20202019201820172016PriorRevolving LoansRevolving Loans Converted to TermTotal
Loans
Land Development$36,872 $21,278 $8,048 $3,279 $4,887 $3,098 $6,976 $— $84,438 
Pass34,719 21,278 6,925 3,210 3,274 3,098 6,976 — 79,480 
Special Mention— — 1,123 69 46 — — — 1,238 
Substandard2,153 — — — 1,567 — — — 3,720 
Installment loans to individuals$74 $4 $— $— $— $— $— $16 $94 
Pass74 4 — — — — — 16 94 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total loans subject to risk rating$2,925,230 $1,329,667 $610,250 $498,294 $372,095 $300,805 $356,222 $25,219 $6,417,782 
Pass2,909,247 1,308,939 599,386 441,774 346,829 283,632 350,588 22,495 6,262,890 
Special Mention10,400 7,622 3,214 45,076 6,455 11,341 187 1,837 86,132 
Substandard5,583 13,106 7,650 11,444 18,811 5,832 5,447 887 68,760 


The following table presents the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented:
 Term Loans Amortized Cost Basis by Origination Year
 20202019201820172016PriorRevolving LoansRevolving Loans Converted to TermTotal
Loans
December 31, 2020
Commercial, Financial, Agricultural$33,805 $16,455 $10,381 $6,396 $2,826 $7,201 $245,485 $305 $322,854 
Performing Loans33,794 16,343 10,340 6,026 2,748 7,181 245,059 305 321,796 
Non-Performing Loans11 112 41 370 78 20 426 — 1,058 
Lease Financing Receivables$32,150 $25,270 $10,999 $4,231 $1,040 $2,172 $— $— $75,862 
Performing Loans32,150 25,270 10,999 4,231 992 2,172 — — 75,814 
Non-Performing Loans— — — — 48 — — — 48 
Real Estate - Construction$54,918 $10,334 $295 $153 $— $— $343 $— $66,043 
Residential$53,108 $9,393 $295 $153 $— $— $343 $— $63,292 
Performing Loans53,108 9,393 295 153 — — 343 — 63,292 
Non-Performing Loans— — — — — — — — — 
Commercial$1,810 $941 $— $— $— $— $— $— $2,751 
Performing Loans1,810 941 — — — — — — 2,751 
Non-Performing Loans— — — — — — — — — 
 Term Loans Amortized Cost Basis by Origination Year
 20202019201820172016PriorRevolving LoansRevolving Loans Converted to TermTotal
Loans
Real Estate - 1-4 Family Mortgage$517,553 $344,643 $261,735 $196,777 $105,216 $212,214 $426,437 $3,694 $2,068,269 
Primary$470,034 $321,155 $239,542 $176,926 $92,195 $207,721 $1,758 $45 $1,509,376 
Performing Loans470,034 318,929 235,816 175,219 91,479 205,530 1,747 45 1,498,799 
Non-Performing Loans— 2,226 3,726 1,707 716 2,191 11 — 10,577 
Home Equity$— $203 $372 $— $45 $799 $421,838 $3,119 $426,376 
Performing Loans— 203 372 — 45 684 421,516 2,642 425,462 
Non-Performing Loans— — — — — 115 322 477 914 
Rental/Investment$34,079 $20,499 $18,319 $17,758 $11,907 $3,356 $2,330 $530 $108,778 
Performing Loans34,079 20,404 18,245 17,595 11,901 3,196 2,330 530 108,280 
Non-Performing Loans— 95 74 163 6 160 — — 498 
Land Development$13,440 $2,786 $3,502 $2,093 $1,069 $338 $511 $— $23,739 
Performing Loans13,440 2,786 3,502 2,062 1,069 338 511 — 23,708 
Non-Performing Loans— — — 31 — — — — 31 
Real Estate - Commercial Mortgage$81,953 $71,063 $56,193 $47,013 $35,801 $15,679 $10,772 $488 $318,962 
Owner-Occupied$48,814 $44,606 $36,661 $30,266 $23,974 $11,608 $5,919 $289 $202,137 
Performing Loans48,814 44,344 36,349 30,097 23,885 11,216 5,904 289 200,898 
Non-Performing Loans— 262 312 169 89 392 15 — 1,239 
Non-Owner Occupied$20,483 $18,585 $14,544 $13,821 $8,068 $3,491 $1,999 $147 $81,138 
Performing Loans20,483 18,460 14,486 13,821 8,068 3,439 1,999 147 80,903 
Non-Performing Loans— 125 58 — — 52 — — 235 
Land Development$12,656 $7,872 $4,988 $2,926 $3,759 $580 $2,854 $52 $35,687 
Performing Loans12,656 7,872 4,988 2,922 3,759 466 2,854 52 35,569 
Non-Performing Loans— — — 4 — 114 — — 118 
Installment loans to individuals$60,133 $57,198 $13,704 $4,019 $2,459 $1,535 $10,661 $59 $149,768 
Performing Loans60,081 57,119 13,611 3,986 2,407 1,535 10,661 21 149,421 
Non-Performing Loans52 79 93 33 52 — — 38 347 
Total loans not subject to risk rating$780,512 $524,963 $353,307 $258,589 $147,342 $238,801 $693,698 $4,546 $3,001,758 
Performing Loans780,449 522,064 349,003 256,112 146,353 235,757 692,924 4,031 2,986,693 
Non-Performing Loans63 2,899 4,304 2,477 989 3,044 774 515 15,065 

The following disclosures are presented under GAAP in effect prior to the adoption of CECL. The Company has included these disclosures to address the applicable prior period.

PassWatchSubstandardTotal
December 31, 2019
Commercial, financial, agricultural$779,798 $11,949 $11,715 $803,462 
Real estate – construction698,950 501 9,209 708,660 
Real estate – 1-4 family mortgage339,079 3,856 3,572 346,507 
Real estate – commercial mortgage2,737,629 31,867 26,711 2,796,207 
Installment loans to individuals6 — — 6 
Total$4,555,462 $48,173 $51,207 $4,654,842 
The following table presents the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented:
PerformingNon-PerformingTotal
December 31, 2019
Commercial, financial, agricultural$247,575 $1,316 $248,891 
Lease financing81,649 226 81,875 
Real estate – construction66,241 — 66,241 
Real estate – 1-4 family mortgage1,992,331 11,288 2,003,619 
Real estate – commercial mortgage330,714 1,955 332,669 
Installment loans to individuals199,549 288 199,837 
Total$2,918,059 $15,073 $2,933,132 
Related Party Loans
Certain executive officers and directors of Renasant Bank and their associates are customers of and have other transactions with Renasant Bank. Related party loans and commitments are made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with persons not related to the Company or the Bank and do not involve more than a normal risk of collectability or present other unfavorable features. A summary of the changes in related party loans follows:
Loans at December 31, 2019$25,916 
New loans and advances3,337 
Payments received(1,926)
Changes in related parties1 
Loans at December 31, 2020$27,328 
No related party loans were classified as past due, nonaccrual, impaired or restructured at December 31, 2020 or 2019. Unfunded commitments to certain executive officers and directors and their associates totaled $19,911 and $7,266 at December 31, 2020 and 2019, respectively.
The following disclosures are presented under GAAP in effect prior to the adoption of CECL that are no longer applicable or required. The Company has included these disclosures to address the applicable prior periods.
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, 2019Year Ended December 31, 2019
 Recorded
Investment		Unpaid
Principal
Balance		Related
Allowance		Average
Recorded
Investment		Interest
Income
Recognized
With a related allowance recorded:
Commercial, financial, agricultural$5,722 $6,623 $1,222 $6,787 $30 
Lease financing226 226 3 231 — 
Real estate – construction— — — — — 
Real estate – 1-4 family mortgage13,689 14,018 143 14,364 200 
Real estate – commercial mortgage7,361 8,307 390 7,034 120 
Installment loans to individuals84 91 1 97 2 
Total$27,082 $29,265 $1,759 $28,513 $352 
With no related allowance recorded:
Commercial, financial, agricultural$— $— $— $— $— 
Lease financing— — — — — 
Real estate – construction9,145 9,145 — 8,516 438 
Real estate – 1-4 family mortgage— — — — — 
Real estate – commercial mortgage1,080 2,760 — 1,159 33 
Installment loans to individuals— — — — — 
Total$10,225 $11,905 $— $9,675 $471 
Totals$37,307 $41,170 $1,759 $38,188 $823 
The average recorded investment in impaired loans for the year ended December 31, 2018 was $27,080. Interest income recognized on impaired loans for the year ended December 31, 2018 was $549.
Purchased Loans
(In Thousands, Except Number of Loans)
For purposes of this Note 4, all references to “loans” mean purchased loans.
The following is a summary of purchased loans at December 31: 
20202019
Commercial, financial, agricultural$176,513 $315,619 
Real estate – construction:
Residential2,859 16,407 
Commercial28,093 35,175 
Total real estate – construction30,952 51,582 
Real estate – 1-4 family mortgage:
Primary214,770 332,729 
Home equity80,392 117,275 
Rental/investment31,928 43,169 
Land development14,654 23,314 
Total real estate – 1-4 family mortgage341,744 516,487 
Real estate – commercial mortgage:
Owner-occupied323,041 428,077 
Non-owner occupied552,728 647,308 
Land development29,454 40,004 
Total real estate – commercial mortgage905,223 1,115,389 
Installment loans to individuals59,675 102,587 
Loans$1,514,107 $2,101,664 
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 LoansNonaccruing 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, 2020
Commercial, financial, agricultural$818 $101 $163,658 $164,577 $74 $2,024 $9,838 $11,936 $176,513 
Real estate – construction:
Residential— — 2,859 2,859 — — — — 2,859 
Commercial— — 28,093 28,093 — — — — 28,093 
Total real estate – construction— — 30,952 30,952 — — — — 30,952 
Real estate – 1-4 family mortgage:
Primary2,394 74 206,635 209,103 687 2,799 2,181 5,667 214,770 
Home equity294 43 78,739 79,076 4 674 638 1,316 80,392 
Rental/investment180 14 30,931 31,125 — 724 79 803 31,928 
Land development109 — 14,231 14,340 — — 314 314 14,654 
Total real estate – 1-4 family mortgage2,977 131 330,536 333,644 691 4,197 3,212 8,100 341,744 
Real estate – commercial mortgage:
Owner-occupied2,511 — 317,997 320,508 193 447 1,893 2,533 323,041 
Non-owner occupied207 — 544,694 544,901 7,682 — 145 7,827 552,728 
Land development112 — 28,962 29,074 — 164 216 380 29,454 
Total real estate – commercial mortgage2,830 — 891,653 894,483 7,875 611 2,254 10,740 905,223 
Installment loans to individuals2,026 35 57,339 59,400 31 136 108 275 59,675 
Loans, net of unearned income$8,651 $267 $1,474,138 $1,483,056 $8,671 $6,968 $15,412 $31,051 $1,514,107 
December 31, 2019
Commercial, financial, agricultural$1,889 $998 $311,218 $314,105 $— $1,246 $268 $1,514 $315,619 
Real estate – construction319 — 51,263 51,582 — — — — 51,582 
Real estate – 1-4 family mortgage5,516 2,244 503,826 511,586 605 2,762 1,534 4,901 516,487 
Real estate – commercial mortgage3,454 922 1,110,570 1,114,946 — 123 320 443 1,115,389 
Installment loans to individuals3,709 153 98,545 102,407 1 51 128 180 102,587 
Total$14,887 $4,317 $2,075,422 $2,094,626 $606 $4,182 $2,250 $7,038 $2,101,664 
Restructured loans that are not performing in accordance with their restructured terms that are either contractually 90 days or more past due or placed on nonaccrual status are reported as nonperforming loans. There was one restructured loan totaling $74 that was contractually 90 days past due or more and still accruing at December 31, 2020. There were two restructured loans totaling $106 that were contractually 90 days past due or more and still accruing at December 31, 2019. The outstanding balance of restructured loans on nonaccrual status was $12,788 and $1,667 at December 31, 2020 and 2019, respectively.
Restructured Loans
At December 31, 2020, 2019 and 2018, there were $8,687, $7,275 and $7,495, respectively, of restructured loans. 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, 2020
Commercial, financial, agricultural1 $1,029 $1,031 
Real estate – 1-4 family mortgage:
Primary4 334 227 
Home equity1 159 162 
Total real estate – 1-4 family mortgage5 493 389 
Real estate – commercial mortgage:
Owner-occupied5 3,173 2,913 
Non-owner occupied1 542 544 
Total real estate – commercial mortgage6 3,715 3,457 
Installment loans to individuals1 25 19 
Total13 $5,262 $4,896 
December 31, 2019
Commercial, financial, agricultural2 $2,778 $2,778 
Real estate – 1-4 family mortgage2 73 73 
Real estate – commercial mortgage1 80 76 
Total5 $2,931 $2,927 
December 31, 2018
Commercial, financial, agricultural1 $48 $44 
Real estate – 1-4 family mortgage2 142 127 
Real estate – commercial mortgage2 522 381 
Total5 $712 $552 
During the years ended December 31, 2020, 2019 and 2018, the Company had $74, $101 and $5, respectively, in troubled debt restructurings that subsequently defaulted within twelve months of the restructuring.
Changes in the Company’s restructured loans are set forth in the table below.
Number of
Loans		Recorded
Investment
Totals at January 1, 201954 $7,495 
Additional advances or loans with concessions5 3,168 
Reclassified as performing14 1,931 
Reductions due to:
Reclassified as nonperforming(11)(1,964)
Paid in full(7)(370)
Charge-offs(1)(101)
Principal paydowns— (508)
Measurement period adjustment on recently acquired loans— (2,376)
Totals at December 31, 201954 $7,275 
Additional advances or loans with concessions13 5,378 
Reclassified as performing1 74 
Reductions due to:
Reclassified as nonperforming(14)(2,563)
Paid in full(5)(978)
Charge-offs(1)(3)
Principal paydowns— (496)
Totals at December 31, 202048 $8,687 
The allocated allowance for credit losses attributable to restructured loans was $612 and $17 at December 31, 2020 and 2019, respectively. The Company had $370 and $6 in remaining availability under commitments to lend additional funds on these restructured loans at December 31, 2020 and 2019, respectively.
As discussed in Note 3, “Non Purchased Loans,” the Company implemented a loan deferral program in response to the COVID-19 pandemic. As of December 31, 2020, the Company had 284 loans with total balances of approximately $33,000 on deferral. Under the applicable guidance, none of these loans were considered “restructured loans.”
Credit Quality
A discussion of the Company’s policies regarding internal risk-rating of loans is discussed above in Note 3, “Non Purchased Loans.” The following table presents the Company’s loan portfolio by year of origination and internal risk-rating grades as of the dates presented:
 Term Loans Amortized Cost Basis by Origination Year
 20202019201820172016PriorRevolving LoansRevolving Loans Converted to TermTotal
Loans
December 31, 2020
Commercial, Financial, Agricultural$— $711 $28,242 $27,222 $22,377 $20,759 $64,563 $1,788 $165,662 
Pass— 711 24,211 20,930 17,240 16,880 56,736 409 137,117 
Special Mention— — 357 97 104 — — — 558 
Substandard— — 3,674 6,195 5,033 3,879 7,827 1,379 27,987 
Real Estate - Construction$— $— $10,522 $9,228 $10,781 $— $— $— $30,531 
Residential$— $— $1,543 $211 $684 $— $— $— $2,438 
Pass— — 1,543 211 684 — — — 2,438 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
 Term Loans Amortized Cost Basis by Origination Year
 20202019201820172016PriorRevolving LoansRevolving Loans Converted to TermTotal
Loans
Commercial$— $— $8,979 $9,017 $10,097 $— $— $— $28,093 
Pass— — 8,979 9,017 10,097 — — — 28,093 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Real Estate - 1-4 Family Mortgage$— $— $14,022 $7,126 $1,112 $38,747 $957 $253 $62,217 
Primary$— $— $6,873 $3,212 $595 $17,223 $249 $— $28,152 
Pass— — 5,556 3,212 594 12,665 249 — 22,276 
Special Mention— — — — — 1,120 — — 1,120 
Substandard— — 1,317 — 1 3,438 — — 4,756 
Home Equity$— $— $— $— $— $— $697 $253 $950 
Pass— — — — — — 59 — 59 
Special Mention— — — — — — — — — 
Substandard— — — — — — 638 253 891 
Rental/Investment$— $— $— $1,883 $232 $18,275 $9 $— $20,399 
Pass— — — 1,883 232 16,139 9 — 18,263 
Special Mention— — — — — 44 — — 44 
Substandard— — — — — 2,092 — — 2,092 
Land Development$— $— $7,149 $2,031 $285 $3,249 $2 $— $12,716 
Pass— — 7,149 2,009 285 1,793 2 — 11,238 
Special Mention— — — — — — — — — 
Substandard— — — 22 — 1,456 — — 1,478 
Real Estate - Commercial Mortgage$— $— $76,557 $153,960 $171,487 $435,073 $22,631 $4,688 $864,396 
Owner-Occupied$— $— $15,001 $32,567 $61,568 $181,007 $9,723 $2 $299,868 
Pass— — 15,001 29,276 43,962 161,790 5,808 — 255,837 
Special Mention— — — — 9,670 — — — 9,670 
Substandard— — — 3,291 7,936 19,217 3,915 2 34,361 
Non-Owner Occupied$— $— $55,962 $117,592 $107,004 $242,249 $12,720 $4,686 $540,213 
Pass— — 37,002 109,910 83,738 221,423 6,431 — 458,504 
Special Mention— — 2,591 — 5,302 2,622 — — 10,515 
Substandard— — 16,369 7,682 17,964 18,204 6,289 4,686 71,194 
Land Development$— $— $5,594 $3,801 $2,915 $11,817 $188 $— $24,315 
Pass— — 5,594 3,801 2,780 4,962 188 — 17,325 
Special Mention— — — — — 5,438 — — 5,438 
Substandard— — — — 135 1,417 — — 1,552 
Installment loans to individuals$— $— $— $— $— $— $— $— $— 
Pass— — — — — — — — — 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total loans subject to risk rating$— $711 $129,343 $197,536 $205,757 $494,579 $88,151 $6,729 $1,122,806 
Pass— 711 105,035 180,249 159,612 435,652 69,482 409 951,150 
Special Mention— — 2,948 97 15,076 9,224 — — 27,345 
Substandard— — 21,360 17,190 31,069 49,703 18,669 6,320 144,311 
The following table presents the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented:
 Term Loans Amortized Cost Basis by Origination Year
 20202019201820172016PriorRevolving LoansRevolving Loans Converted to TermTotal
Loans
December 31, 2020
Commercial, Financial, Agricultural$— $— $445 $349 $303 $2,899 $6,809 $46 $10,851 
Performing Loans— — 445 349 303 2,899 6,784 46 10,826 
Non-Performing Loans— — — — — — 25 — 25 
Real Estate - Construction$— $— $421 $— $— $— $— $— $421 
Residential$— $— $421 $— $— $— $— $— $421 
Performing Loans— — 421 — — — — — 421 
Non-Performing Loans— — — — — — — — — 
Commercial$— $— $— $— $— $— $— $— $— 
Performing Loans— — — — — — — — — 
Non-Performing Loans— — — — — — — — — 
Real Estate - 1-4 Family Mortgage$— $371 $3,082 $33,674 $28,169 $140,689 $70,870 $2,672 $279,527 
Primary$— $248 $1,953 $30,078 $25,956 $127,642 $630 $111 $186,618 
Performing Loans— 248 1,842 29,321 25,935 122,970 630 25 180,971 
Non-Performing Loans— — 111 757 21 4,672 — 86 5,647 
Home Equity$— $— $742 $3,324 $1,668 $1,027 $70,120 $2,561 $79,442 
Performing Loans— — 742 3,324 1,668 960 69,518 2,124 78,336 
Non-Performing Loans— — — — — 67 602 437 1,106 
Rental/Investment$— $123 $— $200 $193 $10,893 $120 $— $11,529 
Performing Loans— 123 — 200 193 10,800 120 — 11,436 
Non-Performing Loans— — — — — 93 — — 93 
Land Development$— $— $387 $72 $352 $1,127 $— $— $1,938 
Performing Loans— — 387 30 117 1,127 — — 1,661 
Non-Performing Loans— — — 42 235 — — — 277 
Real Estate - Commercial Mortgage$— $337 $597 $1,063 $982 $35,946 $1,902 $— $40,827 
Owner-Occupied$— $— $— $625 $660 $20,531 $1,357 $— $23,173 
Performing Loans— — — 625 660 20,253 1,357 — 22,895 
Non-Performing Loans— — — — — 278 — — 278 
Non-Owner Occupied$— $337 $443 $49 $66 $11,467 $153 $— $12,515 
Performing Loans— 337 443 49 66 11,331 153 — 12,379 
Non-Performing Loans— — — — — 136 — — 136 
Land Development$— $— $154 $389 $256 $3,948 $392 $— $5,139 
Performing Loans— — 154 389 256 3,890 392 — 5,081 
Non-Performing Loans— — — — — 58 — — 58 
Installment loans to individuals$— $— $34,976 $15,497 $1,118 $4,348 $3,676 $60 $59,675 
Performing Loans— — 34,942 15,405 1,051 4,262 3,676 29 59,365 
Non-Performing Loans— — 34 92 67 86 — 31 310 
Total loans not subject to risk rating$— $708 $39,521 $50,583 $30,572 $183,882 $83,257 $2,778 $391,301 
Performing Loans— 708 39,376 49,692 30,249 178,492 82,630 2,224 383,371 
Non-Performing Loans— — 145 891 323 5,390 627 554 7,930 
The following disclosures are presented under GAAP in effect prior to the adoption of CECL. The Company has included these disclosures to address the applicable prior period.

The following table presents the Company’s loan portfolio by risk-rating grades as of the dates presented:
PassWatchSubstandardTotal
December 31, 2019
Commercial, financial, agricultural$259,760 $7,166 $5,220 $272,146 
Real estate – construction48,994 — — 48,994 
Real estate – 1-4 family mortgage78,105 791 3,935 82,831 
Real estate – commercial mortgage909,513 56,334 15,835 981,682 
Installment loans to individuals— — — — 
Total$1,296,372 $64,291 $24,990 $1,385,653 

The following table presents the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented:
PerformingNon-PerformingTotal
December 31, 2019
Commercial, financial, agricultural$13,935 $— $13,935 
Real estate – construction1,725 — 1,725 
Real estate – 1-4 family mortgage394,476 3,638 398,114 
Real estate – commercial mortgage30,472 101 30,573 
Installment loans to individuals99,139 261 99,400 
Total$539,747 $4,000 $543,747 
Impaired Loans
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, 2019Year Ended December 31, 2019
 Recorded
Investment		Unpaid
Principal
Balance		Related
Allowance		Average
Recorded
Investment		Interest
Income
Recognized
With a related allowance recorded:
Commercial, financial, agricultural$1,837 $2,074 $212 $1,700 $8 
Real estate – construction2,499 2,490 16 2,386 3 
Real estate – 1-4 family mortgage2,801 2,914 17 2,900 41 
Real estate – commercial mortgage981 1,017 6 1,031 40 
Installment loans to individuals110 110 2 96 — 
Total$8,228 $8,605 $253 $8,113 $92 
With no related allowance recorded:
Commercial, financial, agricultural$901 $905 $— $912 $— 
Real estate – construction772 779 — 770 — 
Real estate – 1-4 family mortgage3,772 4,550 — 4,134 73 
Real estate – commercial mortgage128 131 — 137 7 
Installment loans to individuals71 92 — 85 — 
Total$5,644 $6,457 $— $6,038 $80 
Totals$13,872 $15,062 $253 $14,151 $172 
The average recorded investment in non credit deteriorated loans that were subsequently impaired for the year ended December 31, 2018 was $9,396. Interest income recognized on non credit deteriorated loans that were subsequently impaired for the year ended December 31, 2018 was $194.
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, 2019Year Ended December 31, 2019
 Recorded
Investment		Unpaid
Principal
Balance		Related
Allowance		Average
Recorded
Investment		Interest
Income
Recognized
With a related allowance recorded:
Commercial, financial, agricultural$3,695 $7,370 $292 $6,919 $187 
Real estate – construction— — — — — 
Real estate – 1-4 family mortgage10,061 10,372 291 10,369 529 
Real estate – commercial mortgage52,501 55,017 1,386 54,885 2,904 
Installment loans to individuals640 640 2 652 29 
Total$66,897 $73,399 $1,971 $72,825 $3,649 
With no related allowance recorded:
Commercial, financial, agricultural$25,843 $41,792 $— $37,535 $1,208 
Real estate – construction863 882 — 618 21 
Real estate – 1-4 family mortgage25,482 32,597 — 26,687 1,665 
Real estate – commercial mortgage50,632 64,912 — 53,586 3,500 
Installment loans to individuals2,547 4,771 — 3,232 335 
Total$105,367 $144,954 $— $121,658 $6,729 
Totals$172,264 $218,353 $1,971 $194,483 $10,378 

The average recorded investment in credit-deteriorated loans for the year ended December 31, 2018 was $212,967. Interest income recognized on credit-deteriorated loans for the year ended December 31, 2018 was $10,084.
Loans Purchased 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, 2019
Commercial, financial, agricultural$29,538 
Real estate – construction863 
Real estate – 1-4 family mortgage35,543 
Real estate – commercial mortgage103,133 
Installment loans to individuals3,187 
Total$172,264 
The following table presents the fair value of loans recognized in accordance with ASC 310-30 at the time of acquisition: 
Total Purchased Credit Deteriorated Loans
December 31, 2019
Contractually-required principal and interest$247,383 
Nonaccretable difference(1)
(51,087)
Cash flows expected to be collected196,296 
Accretable yield(2)
(24,032)
Fair value$172,264 
(1)Represents contractual principal cash flows of $44,115 and interest cash flows of $6,972 not expected to be collected.
(2)Represents contractual principal cash flows of $1,615 and interest cash flows of $22,417 expected to be collected.