Loans (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Accounts, Notes, Loans and Financing Receivable

Information relating to loans at December 31 is summarized as follows:

	2014
	Portfolio Loans		PCI Loans		PUL's		Total
	(In thousands)
Construction and land development	$	65,896	$	1,557	$	19,583	$	87,036
Commercial real estate		610,863		4,092		222,192	$	837,147
Residential real estate		639,428		851		46,618	$	686,897
Commerical and financial		120,763		1,312		35,321	$	157,396
Consumer		50,543		2		2,352	$	52,897
Other		512		0		0	$	512
NET LOAN BALANCES	$	1,488,005	$	7,814	$	326,066	$	1,821,885

	2013
	(In thousands)
Construction and land development	$	67,450	$	0	$	0	$	67,450
Commercial real estate		520,382		0		0	$	520,382
Residential real estate		592,746		0		0	$	592,746
Commerical and financial		78,636		0		0	$	78,636
Consumer		44,713		0		0	$	44,713
Other		280		0		0	$	280
NET LOAN BALANCES	$	1,304,207	$	0	$	0	$	1,304,207

(1)

Net loan balances at December 31, 2014 and 2013 include deferred costs of $3,645,000 and $2,618,000, respectively.

Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block]

The table below summarizes the total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and fair value of the loans as of the acquisition date. Contractually required principal and interest payments have been adjusted for estimated prepayments.

October 1, 2014	PCI Loans		PUL's		Total
	(In thousands)
Contractually required principal and interest	$	17,169	$	367,881	$	385,050
Non-accretable difference		(7,196)		0		(7,196)
Cash flows expected to be collected		9,973		367,881		377,854
Accretable yield		(1,256)		(11,235)		(12,491)
Total Acquired loans	$	8,717	$	356,646	$	365,363

Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Components Of Purchased Loans [Table Text Block]

The components of purchased loans are as follows:

December 31, 2014	PCI		PULs		Total
	(In thousands)
Construction and land development	$	1,557	$	19,583	$	21,140
Commercial real estate		4,092		222,192		226,284
Residential real estate		851		46,618		47,469
Commercial and financial		1,312		35,321		36,633
Consumer		2		2,352		2,354
Other		0		0		0
Carrying value of acquired loans	$	7,814	$	326,066	$	333,880

Carrying value , net of allowance of $64	$	7,750	$	326,066	$	333,816

Contractually Required Principal And Interest Cash Payments Changes

The table below summarizes the changes in total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of PCI loans during the three month period ending December 31, 2014. Contractually required principal and interest payments have been adjusted for estimated prepayments.

									Reclassifications from
Activity during the three month period ending									nonaccretable
December 31, 2014	30-Sep-14		Additions		Deletions		Accretion		difference		31-Dec-14
	(In thousands)
Contractually required principal and interest	$	0	$	17,169	$	(2,338)	$	0	$	0	$	14,831
Non-accretable difference		0		(7,196)		1,289		0		82		(5,825)
Cash flows expected to be collected		0		9,973		(1,049)		0		82		9,006
Accretable yield		0		(1,256)		50		96		(82)		(1,192)
Carrying value of acquired loans		0		8,717		(999)		96		0		7,814
Allowance for loan losses		0		0		0		0		0		(64)
Carrying value less allowance for loan losses	$	0	$	8,717	$	(999)	$	96	$	0	$	7,750

Past Due Financing Receivables

The following tables present the contractual aging of the recorded investment in past due loans by class of loans as of December 31, 2014 and 2013:

					Accruing
	Accruing		Accruing		Greater						Total
	30-59 Days		60-89 Days		Than						Financing
December 31, 2014	Past Due		Past Due		90 Days		Nonaccrual		Current		Receivables
					(In thousands)
Portfolio Loans
Construction and land development	$	0	$	0	$	0	$	534	$	65,362	$	65,896
Commercial real estate		764		0		0		3,457		606,642		610,863
Residential real estate		259		159		17		14,381		624,612		639,428
Commerical and financial		232		0		0		0		120,531		120,763
Consumer		256		25		0		191		50,071		50,543
Other		0		0		0		0		512		512
Total	$	1,511	$	184	$	17	$	18,563	$	1,467,730	$	1,488,005

Purchased Unimpaired Loans
Construction and land development	$	303	$	0	$	0	$	0	$	19,280	$	19,583
Commercial real estate		2,318		0		41		0		219,833		222,192
Residential real estate		142		0		39		5		46,432		46,618
Commerical and financial		953		0		0		0		34,368		35,321
Consumer		0		0		0		0		2,352		2,352
Other		0		0		0		0		0		0
Total	$	3,716	$	0	$	80	$	5	$	322,265	$	326,066

Purchased Impaired Loans
Construction and land development	$	0	$	0	$	0	$	1,428	$	129	$	1,557
Commercial real estate		7		359		0		733		2,993		4,092
Residential real estate		88		0		116		411		236		851
Commerical and financial		0		0		0		0		1,312		1,312
Consumer		0		0		0		0		2		2
Other		0		0		0		0		0		0
Total	$	95	$	359	$	116	$	2,572	$	4,672	$	7,814

Total Loans	$	5,322	$	543	$	213	$	21,140	$	1,794,667	$	1,821,885

					Accruing
	Accruing		Accruing		Greater						Total
	30-59 Days		60-89 Days		Than						Financing
December 31, 2013 (2)	Past Due		Past Due		90 Days		Nonaccrual		Current		Receivables
	(In thousands)
Construction and land development	$	3	$	0	$	0	$	1,302	$	66,145	$	67,450
Commercial real estate		684		345		0		5,111		514,242		520,382
Residential real estate		974		909		160		20,705		569,998		592,746
Commerical and financial		353		0		0		13		78,270		78,636
Consumer		33		27		0		541		44,112		44,713
Other		0		0		0		0		280		280
Total	$	2,047	$	1,281	$	160	$	27,672	$	1,273,047	$	1,304,207

(2)

All purchased loans disclosed were acquired in 2014 and were therefore not presented as part of this table.

Financing Receivable Credit Quality Indicators

The following tables present the risk category of loans by class of loans based on the most recent analysis performed as of December 31, 2014 and 2013:

	Construction						Commercial
	& Land		Commercial		Residential		and
December 31, 2014	Development		Real Estate		Real Estate		Financial		Consumer		Total
	(In thousands)
Pass	$	79,397	$	797,934	$	655,518	$	155,281	$	51,764	$	1,739,894
Special mention		1,815		11,709		546		993		590		15,653
Substandard		1,685		15,325		1,733		1,002		456		20,201
Doubtful		0		0		0		0		0		0
Nonaccrual		1,963		4,189		14,797		0		191		21,140
Pass-Troubled debt restructures		1,672		2,332		17		0		0		4,021
Troubled debt restructures		504		5,658		14,286		120		408		20,976
	$	87,036	$	837,147	$	686,897	$	157,396	$	53,409	$	1,821,885

	Construction						Commercial
	& Land		Commercial		Residential		and
December 31, 2013	Development		Real Estate		Real Estate		Financial		Consumer		Total
	(In thousands)
Pass	$	63,186	$	485,268	$	554,681	$	77,840	$	43,267	$	1,224,242
Special mention		583		6,810		824		382		300		8,899
Substandard		0		15,886		1,670		248		453		18,257
Doubtful		0		0		0		0		0		0
Nonaccrual		1,302		5,111		20,705		13		541		27,672
Pass-Troubled debt restructures		1,838		5,584		30		0		0		7,452
Troubled debt restructures		541		1,723		14,836		153		432		17,685
	$	67,450	$	520,382	$	592,746	$	78,636	$	44,993	$	1,304,207