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LOANS (Tables)
6 Months Ended
Jun. 30, 2017
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”) as of June 30, 2017 and December 31, 2016 is summarized as follows:
 
June 30, 2017
 
Portfolio Loans
 
PCI Loans
 
PUL's
 
Total
 
 
 
(In thousands)
 
Construction and land development
 
$
181,334
 
$
113
 
$
49,127
 
$
230,574
 
Commercial real estate
 
 
1,098,634
 
 
11,463
 
 
353,971
 
 
1,464,068
 
Residential real estate
 
 
874,753
 
 
702
 
 
115,689
 
 
991,144
 
Commercial and financial
 
 
393,213
 
 
854
 
 
71,071
 
 
465,138
 
Consumer
 
 
174,376
 
 
0
 
 
4,219
 
 
178,595
 
Other loans
 
 
556
 
 
0
 
 
0
 
 
556
 
NET LOAN BALANCES (1)
 
$
2,722,866
 
$
13,132
 
$
594,077
 
$
3,330,075
 
 
December 31, 2016
 
Portfolio Loans
 
PCI Loans
 
PUL's
 
Total
 
 
 
(In thousands)
 
Construction and land development
 
$
137,480
 
$
114
 
$
22,522
 
$
160,116
 
Commercial real estate
 
 
1,041,915
 
 
11,257
 
 
304,420
 
 
1,357,592
 
Residential real estate
 
 
784,290
 
 
684
 
 
51,813
 
 
836,787
 
Commercial and financial
 
 
308,731
 
 
941
 
 
60,917
 
 
370,589
 
Consumer
 
 
152,927
 
 
0
 
 
1,018
 
 
153,945
 
Other loans
 
 
507
 
 
0
 
 
0
 
 
507
 
NET LOAN BALANCES (1)
 
$
2,425,850
 
$
12,996
 
$
440,690
 
$
2,879,536
 
 
(1) Net loan balances as of June 30, 2017 and December 31, 2016 include deferred costs of $10.6 million for each period presented, respectively.
Contractually Required Principal And Interest Cash Payments Changes
Activity during the three months ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Reclassifications from
 
 
 
 
 
March 31,
 
 
 
 
 
 
 
nonaccretable
 
 
 
 
 
2017
 
Additions
 
Deletions
 
Accretion
 
difference
 
June 30, 2017
 
 
 
(In thousands)
 
Accretable yield
 
$
3,510
 
 
0
 
 
(10)
 
 
(451)
 
 
216
 
$
3,265
 
Recorded investment of acquired loans
 
$
12,982
 
 
 
 
 
 
 
 
 
 
 
 
 
$
13,132
 
Allowance for loan losses
 
 
0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0
 
Recorded investment less allowance for loan losses
 
$
12,982
 
 
 
 
 
 
 
 
 
 
 
 
 
$
13,132
 
 
Activity during the six months ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Reclassifications from
 
 
 
 
 
December 31,
 
 
 
 
 
 
 
nonaccretable
 
 
 
 
 
2016
 
Additions
 
Deletions
 
Accretion
 
difference
 
June 30, 2017
 
 
 
(In thousands)
 
Accretable yield
 
$
3,807
 
 
0
 
 
(10)
 
 
(816)
 
 
284
 
$
3,265
 
Recorded investment of acquired loans
 
$
12,996
 
 
 
 
 
 
 
 
 
 
 
 
 
$
13,132
 
Allowance for loan losses
 
 
0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0
 
Recorded investment less allowance for loan losses
 
$
12,996
 
 
 
 
 
 
 
 
 
 
 
 
 
$
13,132
 
 
Activity during the three months ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Reclassifications from
 
 
 
 
 
March 31,
 
 
 
 
 
 
 
nonaccretable
 
 
 
 
 
2016
 
Additions
 
Deletions
 
Accretion
 
difference
 
June 30, 2016
 
 
 
(In thousands)
 
Accretable yield
 
$
3,143
 
 
1,215
 
 
1,086
 
 
(770)
 
 
0
 
$
4,674
 
Recorded investment of acquired loans
 
$
16,531
 
 
 
 
 
 
 
 
 
 
 
 
 
$
13,652
 
Allowance for loan losses
 
 
0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0
 
Recorded investment less allowance for loan losses
 
$
16,531
 
 
 
 
 
 
 
 
 
 
 
 
 
$
13,652
 
 
Activity during the six months ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Reclassifications from
 
 
 
 
 
December 31,
 
 
 
 
 
 
 
nonaccretable
 
 
 
 
 
2015
 
Additions
 
Deletions
 
Accretion
 
difference
 
June 30, 2016
 
 
 
(In thousands)
 
Accretable yield
 
$
2,610
 
 
1,831
 
 
1,271
 
 
(1,038)
 
 
0
 
$
4,674
 
Recorded investment of acquired loans
 
$
12,109
 
 
 
 
 
 
 
 
 
 
 
 
 
$
13,652
 
Allowance for loan losses
 
 
0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0
 
Recorded investment less allowance for loan losses
 
$
12,109
 
 
 
 
 
 
 
 
 
 
 
 
 
$
13,652
 
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, 2017 and December 31, 2016:
 
 
 
 
 
 
 
Accruing
 
 
 
 
 
 
 
 
 
Accruing
 
Accruing
 
Greater
 
 
 
 
 
Total
 
June 30, 2017
 
30-59 Days
 
60-89 Days
 
Than
 
 
 
 
 
Financing
 
(In thousands)
 
Past Due
 
Past Due
 
90 Days
 
Nonaccrual
 
Current
 
Receivables
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Portfolio Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Construction and land development
 
$
273
 
$
0
 
$
0
 
$
544
 
$
180,517
 
$
181,334
 
Commercial real estate
 
 
0
 
 
0
 
 
0
 
 
1,209
 
 
1,097,425
 
 
1,098,634
 
Residential real estate
 
 
68
 
 
65
 
 
0
 
 
8,655
 
 
865,965
 
 
874,753
 
Commercial and financial
 
 
125
 
 
0
 
 
0
 
 
0
 
 
393,088
 
 
393,213
 
Consumer
 
 
97
 
 
14
 
 
0
 
 
133
 
 
174,132
 
 
174,376
 
Other
 
 
0
 
 
0
 
 
0
 
 
0
 
 
556
 
 
556
 
Total
 
 
563
 
 
79
 
 
0
 
 
10,541
 
 
2,711,683
 
 
2,722,866
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Purchased Unimpaired Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Construction and land development
 
 
0
 
 
0
 
 
0
 
 
125
 
 
49,002
 
 
49,127
 
Commercial real estate
 
 
437
 
 
0
 
 
0
 
 
743
 
 
352,791
 
 
353,971
 
Residential real estate
 
 
0
 
 
0
 
 
194
 
 
1,462
 
 
114,033
 
 
115,689
 
Commercial and financial
 
 
514
 
 
0
 
 
0
 
 
347
 
 
70,210
 
 
71,071
 
Consumer
 
 
0
 
 
0
 
 
0
 
 
0
 
 
4,219
 
 
4,219
 
Other
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
Total
 
 
951
 
 
0
 
 
194
 
 
2,677
 
 
590,255
 
 
594,077
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Purchased Credit Impaired Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Construction and land development
 
 
0
 
 
0
 
 
0
 
 
0
 
 
113
 
 
113
 
Commercial real estate
 
 
0
 
 
0
 
 
0
 
 
3,761
 
 
7,702
 
 
11,463
 
Residential real estate
 
 
189
 
 
0
 
 
0
 
 
0
 
 
513
 
 
702
 
Commercial and financial
 
 
0
 
 
0
 
 
0
 
 
0
 
 
854
 
 
854
 
Consumer
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
Other
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
Total
 
 
189
 
 
0
 
 
0
 
 
3,761
 
 
9,182
 
 
13,132
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Loans
 
$
1,703
 
$
79
 
$
194
 
$
16,979
 
$
3,311,120
 
$
3,330,075
 
 
 
 
 
 
 
 
Accruing
 
 
 
 
 
 
 
 
 
Accruing
 
Accruing
 
Greater
 
 
 
 
 
Total
 
December 31, 2016
 
30-59 Days
 
60-89 Days
 
Than
 
 
 
 
 
Financing
 
(In thousands)
 
Past Due
 
Past Due
 
90 Days
 
Nonaccrual
 
Current
 
Receivables
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Portfolio Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Construction and land development
 
$
0
 
$
0
 
$
0
 
$
438
 
$
137,042
 
$
137,480
 
Commercial real estate
 
 
78
 
 
171
 
 
0
 
 
1,784
 
 
1,039,882
 
 
1,041,915
 
Residential real estate
 
 
1,570
 
 
261
 
 
0
 
 
8,582
 
 
773,877
 
 
784,290
 
Commercial and financial
 
 
30
 
 
0
 
 
0
 
 
49
 
 
308,652
 
 
308,731
 
Consumer
 
 
29
 
 
59
 
 
0
 
 
170
 
 
152,669
 
 
152,927
 
Other
 
 
0
 
 
0
 
 
0
 
 
0
 
 
507
 
 
507
 
Total
 
 
1,707
 
 
491
 
 
0
 
 
11,023
 
 
2,412,629
 
 
2,425,850
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Purchased Unimpaired Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Construction and land development
 
 
0
 
 
0
 
 
0
 
 
32
 
 
22,490
 
 
22,522
 
Commercial real estate
 
 
345
 
 
485
 
 
0
 
 
1,272
 
 
302,318
 
 
304,420
 
Residential real estate
 
 
153
 
 
0
 
 
0
 
 
1,262
 
 
50,398
 
 
51,813
 
Commercial and financial
 
 
39
 
 
328
 
 
0
 
 
197
 
 
60,353
 
 
60,917
 
Consumer
 
 
37
 
 
0
 
 
0
 
 
0
 
 
981
 
 
1,018
 
Other
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
Total
 
 
574
 
 
813
 
 
0
 
 
2,763
 
 
436,540
 
 
440,690
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Purchased Impaired Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Construction and land development
 
 
0
 
 
0
 
 
0
 
 
0
 
 
114
 
 
114
 
Commercial real estate
 
 
0
 
 
0
 
 
0
 
 
4,285
 
 
6,972
 
 
11,257
 
Residential real estate
 
 
0
 
 
185
 
 
0
 
 
0
 
 
499
 
 
684
 
Commercial and financial
 
 
0
 
 
0
 
 
0
 
 
0
 
 
941
 
 
941
 
Consumer
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
Other
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
Total
 
 
0
 
 
185
 
 
0
 
 
4,285
 
 
8,526
 
 
12,996
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Loans
 
$
2,281
 
$
1,489
 
$
0
 
$
18,071
 
$
2,857,695
 
$
2,879,536
 
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, 2017 and December 31, 2016:
 
June 30, 2017
 
 
 
 
 
Construction
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
& Land
 
Commercial
 
Residential
 
and
 
Consumer
 
 
 
(In thousands)
 
Development
 
Real Estate
 
Real Estate
 
Financial
 
Loans
 
Total
 
Pass
 
$
216,965
 
$
1,426,634
 
$
965,708
 
$
453,838
 
$
177,470
 
$
3,240,615
 
Special mention
 
 
8,048
 
 
12,562
 
 
1,705
 
 
6,715
 
 
1,032
 
 
30,062
 
Substandard
 
 
4,631
 
 
13,364
 
 
3,274
 
 
3,981
 
 
168
 
 
25,418
 
Doubtful*
 
 
0
 
 
0
 
 
0
 
 
60
 
 
0
 
 
60
 
Nonaccrual
 
 
669
 
 
5,713
 
 
10,117
 
 
347
 
 
133
 
 
16,979
 
Pass-Troubled debt restructures
 
 
37
 
 
4,909
 
 
0
 
 
0
 
 
0
 
 
4,946
 
Troubled debt restructures
 
 
224
 
 
886
 
 
10,340
 
 
197
 
 
348
 
 
11,995
 
 
 
$
230,574
 
$
1,464,068
 
$
991,144
 
$
465,138
 
$
179,151
 
$
3,330,075
 
 
* Comprised of a single loan that paid off in July 2017.
 
December 31, 2016
 
 
 
 
 
Construction
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
& Land
 
Commercial
 
Residential
 
and
 
Consumer
 
 
 
(In thousands)
 
Development
 
Real Estate
 
Real Estate
 
Financial
 
Loans
 
Total
 
Pass
 
$
148,563
 
$
1,319,696
 
$
811,576
 
$
364,241
 
$
153,730
 
$
2,797,806
 
Special mention
 
 
5,037
 
 
17,184
 
 
1,780
 
 
3,949
 
 
67
 
 
28,017
 
Substandard
 
 
5,497
 
 
7,438
 
 
2,709
 
 
2,153
 
 
134
 
 
17,931
 
Doubtful
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
 
0
 
Nonaccrual
 
 
470
 
 
7,341
 
 
9,844
 
 
246
 
 
170
 
 
18,071
 
Pass-Troubled debt restructures
 
 
44
 
 
4,988
 
 
358
 
 
0
 
 
44
 
 
5,434
 
Troubled debt restructures
 
 
505
 
 
945
 
 
10,520
 
 
0
 
 
307
 
 
12,277
 
 
 
$
160,116
 
$
1,357,592
 
$
836,787
 
$
370,589
 
$
154,452
 
$
2,879,536