LOANS (Tables)

6 Months Ended

Jun. 30, 2016

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Information relating to portfolio loans, purchased credit impaired (“PCI”) loans, and purchased unimpaired loans (“PUL”) is summarized as follows:

June 30, 2016	Portfolio Loans		PCI Loans		PUL's		Total
	(Dollars in thousands)
Construction and land development	$	115,789	$	114	$	26,484	$	142,387
Commercial real estate		849,537		11,836		378,135		1,239,508
Residential real estate		723,297		688		70,336		794,321
Commercial and financial		245,821		1,014		76,631		323,466
Consumer		112,580		0		2,933		115,513
Other loans		857		0		0		857
NET LOAN BALANCES (1)	$	2,047,881	$	13,652	$	554,519	$	2,616,052

December 31, 2015	Portfolio Loans		PCI Loans		PUL's		Total
	(Dollars in thousands)
Construction and land development	$	97,629	$	114	$	11,044	$	108,787
Commercial real estate		776,875		9,990		222,513		1,009,378
Residential real estate		678,131		922		44,732		723,785
Commercial and financial		188,013		1,083		39,421		228,517
Consumer		82,717		0		2,639		85,356
Other loans		507		0		0		507
NET LOAN BALANCES (1)	$	1,823,872	$	12,109	$	320,349	$	2,156,330

(1) Net loan balances as of June 30, 2016 and December 31, 2015 include deferred fee/costs (net) and fair value adjustments on acquired loans, aggregating to $14.6 million and $7.7 million for each period, respectively.

Contractually Required Principal And Interest Cash Payments Changes

The table below summarize 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 and six month periods ended June 30, 2016 and 2015. Contractually required principal and interest payments have been adjusted for estimated prepayments.

Three Months Ended June 30, 2016

									Reclassifications
	March 31, 2016		Additions		Deletions		Accretion		from nonaccretable difference		June 30, 2016
	(In thousands)
Contractually required principal and interest	$	25,967	$	2,278	$	(3,669)	$	0	$	0	$	24,576
Nonaccretable difference		(6,293)		(2,633)		2,676		0		0		(6,250)
Cash flows expected to be collected		19,674		(355)		(993)		0		0		18,326
Accretable yield		(3,143)		(1,215)		(1,086)		770		0		(4,674)
Carrying value of acquired loans		16,531	$	(1,570)	$	(2,079)	$	770	$	0		13,652
Allowance for loan losses		0										0
Carrying value less allowance for loan losses	$	16,531									$	13,652

Six Months Ended June 30, 2016

 

									Reclassifications
	December 31, 2015		Additions		Deletions		Accretion		from nonaccretable difference		June 30, 2016
	(In thousands)
Contractually required principal and interest	$	19,966	$	9,148	$	(4,538)	$	0	$	0	$	24,576
Nonaccretable difference		(5,247)		(4,109)		3,106		0		0		(6,250)
Cash flows expected to be collected		14,719		5,039		(1,432)		0		0		18,326
Accretable yield		(2,610)		(1,831)		(1,271)		1,038		0		(4,674)
Carrying value of acquired loans		12,109	$	3,208	$	(2,703)	$	1,038	$	0		13,652
Allowance for loan losses		0										0
Carrying value less allowance for loan losses	$	12,109									$	13,652

									Reclassifications
	March 31, 2015		Additions		Deletions		Accretion		from nonaccretable difference		June 30 ,  2015
	(In thousands)
Contractually required principal and interest	$	13,284	$	0	$	(1,720)	$	0	$	0	$	11,564
Nonaccretable difference		(5,076)		0		999		0		176		(3,901)
Cash flows expected to be collected		8,208		0		(721)		0		176		7,663
Accretable yield		(1,089)		0		63		101		(176)		(1,101)
Carrying value of acquired loans		7,119	$	0	$	(658)	$	101	$	0		6,562
Allowance for loan losses		(93)										(212)
Carrying value less allowance for loan losses	$	7,026									$	6,350

Six Months Ended June 30, 2015

									Reclassifications
	December 31, 2014		Additions		Deletions		Accretion		from nonaccretable difference		June 30 ,  2015
	(In thousands)
Contractually required principal and interest	$	14,831	$	0	$	(3,267)	$	0	$	0	$	11,564
Nonaccretable difference		(5,825)		0		1,663		0		261		(3,901)
Cash flows expected to be collected		9,006		0		(1,604)		0		261		7,663
Accretable yield		(1,192)		0		148		204		(261)		(1,101)
Carrying value of acquired loans		7,814	$	0	$	(1,456)	$	204	$	0		6,562
Allowance for loan losses		(64)										(212)
Carrying value less allowance for loan losses	$	7,750									$	6,350

Past Due Financing Receivables

The following tables present the contractual delinquency of the recorded investment in past due loans by class of loans as of June 30, 2016 and December 31, 2015:

					Accruing
	Accruing		Accruing		Greater						Total
June 30, 2016	30-59 Days		60-89 Days		Than						Financing
(Dollars in thousands)	Past Due		Past Due		90 Days		Nonaccrual		Current		Receivables
Portfolio Loans
Construction and land development	$	0	$	13	$	0	$	244	$	115,532	$	115,789
Commercial real estate		279		0		373		1,424		847,461		849,537
Residential real estate		834		542		193		9,053		712,675		723,297
Commercial and financial		251		71		0		0		245,499		245,821
Consumer		18		0		0		198		112,364		112,580
Other		0		0		0		0		857		857
Total		1,382		626		566		10,919		2,034,388	$	2,047,881
Purchased Unimpaired Loans
Construction and land development		0		0		0		36		26,448	$	26,484
Commercial real estate		640		0		0		1,485		376,010		378,135
Residential real estate		1		387		0		910		69,038		70,336
Commercial and financial		171		0		0		210		76,250		76,631
Consumer		0		0		0		0		2,933		2,933
Other		0		0		0		0		0		0
Total		812		387		0		2,641		550,679	$	554,519
Purchased Credit Impaired Loans
Construction and land development		0		0		0		0		114	$	114
Commercial real estate		0		0		0		1,719		10,117		11,836
Residential real estate		0		0		0		0		688		688
Commercial and financial		0		0		0		0		1,014		1,014
Consumer		0		0		0		0		0		0
Other		0		0		0		0		0		0
Total		0		0		0		1,719		11,933	$	13,652
Total Loans	$	2,194	$	1,013	$	566	$	15,279	$	2,597,000	$	2,616,052

					Accruing
	Accruing		Accruing		Greater						Total
December 31, 2015	30-59 Days		60-89 Days		Than						Financing
(Dollars in thousands)	Past Due		Past Due		90 Days		Nonaccrual		Current		Receivables
Portfolio Loans
Construction and land development	$	665	$	0	$	0	$	269	$	96,695	$	97,629
Commercial real estate		810		0		0		2,301		773,764		776,875
Residential real estate		141		0		0		9,941		668,049		678,131
Commercial and financial		59		0		0		0		187,954		188,013
Consumer		430		0		0		247		82,040		82,717
Other		0		0		0		0		507		507
Total	$	2,105	$	0	$	0	$	12,758	$	1,809,009	$	1,823,872
Purchased Unimpaired Loans
Construction and land development	$	0	$	0	$	0	$	40	$	11,004	$	11,044
Commercial real estate		179		0		0		2,294		220,040		222,513
Residential real estate		66		0		0		0		44,666		44,732
Commercial and financial		39		0		0		130		39,252		39,421
Consumer		39		0		0		0		2,600		2,639
Other		0		0		0		0		0		0
Total	$	323	$	0	$	0	$	2,464	$	317,562	$	320,349
Purchased Impaired Loans
Construction and land development	$	0	$	0	$	0	$	0	$	114	$	114
Commercial real estate		132		0		0		1,816		8,042		9,990
Residential real estate		0		0		0		348		574		922
Commercial and financial		0		0		0		0		1,083		1,083
Consumer		0		0		0		0		0		0
Other		0		0		0		0		0		0
Total	$	132	$	0	$	0	$	2,164	$	9,813	$	12,109
Total Loans	$	2,560	$	0	$	0	$	17,386	$	2,136,384	$	2,156,330

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 June 30, 2016 and December 31, 2015:

 

June 30, 2016

	Construction						Commercial
	& Land		Commercial		Residential		and		Consumer
(Dollars in thousands)	Development		Real Estate		Real Estate		Financial		Loans		Total
Pass	$	128,495	$	1,202,160	$	765,410	$	314,048	$	114,547	$	2,524,660
Special mention		7,492		11,546		1,981		7,784		1,174		29,977
Substandard		5,537		14,312		4,438		1,409		103		25,799
Doubtful		0		0		0		0		0		0
Nonaccrual		280		4,628		9,963		210		198		15,279
Pass-Troubled debt restructures		51		5,788		0		15		0		5,854
Troubled debt restructures		532		1,074		12,529		0		348		14,483
	$	142,387	$	1,239,508	$	794,321	$	323,466	$	116,370	$	2,616,052

December 31, 2015

 

	Construction						Commercial
	& Land		Commercial		Residential		and		Consumer
(Dollars in thousands)	Development		Real Estate		Real Estate		Financial		Loans		Total
Pass	$	100,186	$	973,942	$	697,907	$	226,391	$	83,786	$	2,082,212
Special mention		3,377		12,599		629		1,209		1,392		19,206
Substandard		4,242		9,278		3,197		769		70		17,556
Doubtful		0		0		0		0		0		0
Nonaccrual		309		6,410		10,290		130		247		17,386
Pass-Troubled debt restructures		58		5,893		0		18		0		5,969
Troubled debt restructures		615		1,256		11,762		0		368		14,001
	$	108,787	$	1,009,378	$	723,785	$	228,517	$	85,863	$	2,156,330