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Impaired Loans and Valuation Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2012

Impaired Loans and Valuation Allowance for Loan Losses [Abstract]

Presentation of loans that were modified within the three months

The following table presents loans that were modified within the six months ended June 30, 2012:


June 30, 2012						Pre-				Post-
(Dollars in thousands) Troubled Debt Restructurings Modified		Number of Contracts				Modification Outstanding Recorded Investment				Modification Outstanding Recorded Investment				Specific Reserve Recorded				Valuation Allowance Recorded
Construction and land development			1			$	70			$	63			$	0			$	7
Residential real estate			18				3,842				3,604				0				238
Commercial real estate			1				616				616				0				0
Commercial and financial			0				0				0				0				0
Consumer			2				75				72				0				3

			22			$	4,603			$	4,355			$	0			$	248

Troubled debt restructurings defaulted


		2012
(Dollars in thousands) Troubled Debt Restructurings Defaulted		Number of Contracts				Recorded Investment
Construction and land development			2			$	93
Residential real estate			2				530
Commercial real estate			1				225
Commercial and financial			0				0
Consumer			0				0

			5			$	848

Company's recorded investments in impaired loans and the related valuation allowances

As of June 30, 2012 and December 31, 2011, the Company’s recorded investments in impaired loans and the related valuation allowances were as follows:


		June 30, 2012
(Dollars in thousands)		Recorded Investment				Unpaid Principal Balance				Related Valuation Allowance
Impaired Loans with No Related Allowance Recorded:
Construction and land development		$	1,468			$	1,953			$	0
Commercial real estate			10,140				14,639				0
Residential real estate			15,726				20,821				0
Commercial and financial			6				6				0
Consumer			431				481				0
Impaired Loans with an Allowance Recorded:
Construction and land development			3,403				3,479				449
Commercial real estate			45,038				48,996				4,615
Residential real estate			26,493				26,932				4,099
Commercial and financial			34				229				1
Consumer			585				598				109
Total:
Construction and land development			4,871				5,432				449
Commercial real estate			55,178				63,635				4,615
Residential real estate			42,219				47,753				4,099
Commercial and financial			40				235				1
Consumer			1,016				1,079				109

		$	103,324			$	118,134			$	9,273


		December 31, 2011
(Dollars in thousands)		Recorded Investment				Unpaid Principal Balance				Related Valuation Allowance
Impaired Loans with No Related Allowance Recorded:
Construction and land development		$	1,616			$	2,431			$	0
Commercial real estate			19,101				22,219				0
Residential real estate			9,128				13,442				0
Commercial and financial			16				16				0
Consumer			481				523				0
Impaired Loans with an Allowance Recorded:
Construction and land development			3,777				4,131				375
Commercial real estate			39,199				39,824				3,385
Residential real estate			26,140				26,940				3,099
Commercial and financial			101				101				8
Consumer			578				584				112
Total:
Construction and land development			5,393				6,562				375
Commercial real estate			58,300				62,043				3,385
Residential real estate			35,268				40,382				3,099
Commercial and financial			117				117				8
Consumer			1,059				1,107				112

		$	100,137			$	110,211			$	6,979

Company's recorded investments in impaired loans and the related valuation allowances

For the six months ended June 30, 2012 and 2011, the Company’s average recorded investments in impaired loans and related interest income were as follows:


		Six Months Ended June 30, 2012								Six Months Ended June 30, 2011
(Dollars in thousands)		Average Recorded Investment				Interest Income Recognized				Average Recorded Investment				Interest Income Recognized
Impaired Loans with No Related Allowance
Recorded:
Construction & land development		$	1,569			$	2			$	3,191			$	7
Commercial real estate			12,167				155				23,702				214
Residential real estate			10,145				137				8,912				22
Commercial and financial			11				0				1,536				0
Consumer			486				1				342				1
Impaired Loans with an Allowance Recorded:
Construction & land development			3,750				64				23,748				76
Commercial real estate			43,870				902				44,345				915
Residential real estate			27,648				429				27,408				436
Commercial and financial			39				8				203				2
Consumer			619				11				809				15
Total:
Construction & land development			5,319				66				26,939				83
Commercial real estate			56,037				1,057				68,047				1,129
Residential real estate			37,793				566				36,320				458
Commercial and financial			50				8				1,739				2
Consumer			1,105				12				1,151				16

		$	100,304			$	1,709			$	134,196			$	1,688

Transactions in the allowance for loan losses

Transactions in the allowance for loan losses for the three and six-month periods ended June 30, 2012 are summarized as follows:


		Allowance for Loan Losses for the Three Months Ended June 30, 2012
(Dollars in thousands)		Beginning Balance				Provision for Loan Losses				Charge- Offs				Recoveries				Net Charge- Offs				Ending Balance
Construction & land development		$	1,509			$	24			$	(249	)		$	71			$	(178	)		$	1,355
Commercial real estate			10,911				4,415				(3,444	)			95				(3,349	)			11,977
Residential real estate			10,826				2,042				(2,770	)			214				(2,556	)			10,312
Commercial and financial			417				72				(194	)			34				(160	)			329
Consumer			792				(98	)			(41	)			9				(32	)			662

		$	24,455			$	6,455			$	(6,698	)		$	423			$	(6,275	)		$	24,635


		Allowance for Loan Losses for the Six Months Ended June 30, 2012
(Dollars in thousands)		Beginning Balance				Provision for Loan Losses				Charge- Offs				Recoveries				Net Charge- Offs				Ending Balance
Construction & land development		$	1,883			$	(135	)		$	(479	)		$	86			$	(393	)		$	1,355
Commercial real estate			11,477				6,060				(5,731	)			171				(5,560	)			11,977
Residential real estate			10,966				2,906				(3,824	)			264				(3,560	)			10,312
Commercial and financial			402				150				(291	)			68				(223	)			329
Consumer			837				(221	)			(54	)			100				46				662

		$	25,565			$	8,760			$	(10,379	)		$	689			$	(9,690	)		$	24,635

Transactions in the allowance for loan losses for the three and six-month periods ended June 30, 2011 are summarized as follows:


		Allowance for Loan Losses for the Three Months Ended June 30, 2011
(Dollars in thousands)		Beginning Balance				Provision for Loan Losses				Charge- Offs				Recoveries				Net Charge- Offs				Ending Balance
Construction & land development		$	4,112			$	(244	)		$	(1,848	)		$	11			$	(1,837	)		$	2,031
Commercial real estate			16,767				153				(676	)			7				(669	)			16,251
Residential real estate			11,530				1,403				(1,631	)			73				(1,558	)			11,375
Commercial and financial			739				(212	)			0				45				45				572
Consumer			1,205				(198	)			(22	)			17				(5	)			1,002

		$	34,353			$	902			$	(4,177	)		$	153			$	(4,024	)		$	31,231


		Allowance for Loan Losses for the Six Months Ended June 30, 2011
(Dollars in thousands)		Beginning Balance				Provision for Loan Losses				Charge- Offs				Recoveries				Net Charge- Offs				Ending Balance
Construction & land development		$	7,214			$	(1,802	)		$	(3,698	)		$	317			$	(3,381	)		$	2,031
Commercial real estate			18,563				(1,073	)			(1,257	)			18				(1,239	)			16,251
Residential real estate			10,102				4,678				(3,554	)			149				(3,405	)			11,375
Commercial and financial			480				(40	)			0				132				132				572
Consumer			1,385				(221	)			(204	)			42				(162	)			1,002

		$	37,744			$	1,542			$	(8,713	)		$	658			$	(8,055	)		$	31,231

Loan portfolio and related allowance

The Company’s loan portfolio and related allowance as of June 30, 2012 and 2011 is shown in the following tables:


		At June 30, 2012
		Individually Evaluated for Impairment								Collectively Evaluated for Impairment								Total
(Dollars in thousands)		Carrying Value				Associated Allowance				Carrying Value				Associated Allowance				Carrying Value				Associated Allowance
Construction & land development		$	4,871			$	449			$	52,357			$	906			$	57,228			$	1,355
Commercial real estate			55,178				4,615				438,438				7,362				493,616				11,977
Residential real estate			42,219				4,099				521,716				6,213				563,935				10,312
Commercial and financial			40				1				56,180				328				56,220				329
Consumer			1,016				109				49,339				553				50,355				662

		$	103,324			$	9,273			$	1,118,030			$	15,362			$	1,221,354			$	24,635


		At June 30, 2011
		Individually Evaluated for Impairment								Collectively Evaluated for Impairment								Total
(Dollars in thousands)		Carrying Value				Associated Allowance				Carrying Value				Associated Allowance				Carrying Value				Associated Allowance
Construction & land development		$	5,738			$	464			$	43,455			$	1,567			$	49,193			$	2,031
Commercial real estate			64,245				7,316				452,690				8,935				516,935				16,251
Residential real estate			35,218				3,690				487,844				7,685				523,062				11,375
Commercial and financial			111				10				47,901				562				48,012				572
Consumer			1,091				102				50,652				900				51,743				1,002

		$	106,403			$	11,582			$	1,082,542			$	19,649			$	1,188,945			$	31,231

Tabular disclosure of troubled debt restructuring which results when the debtor restructures the terms of its debt with a creditor due to the debtor's financial difficulties and the creditor grants certain concessions to obtain payment it might not otherwise receive. Includes a description of the principal changes in terms, the major features of settlement for each restructuring, the aggregate gain on restructuring and the related income tax effect, the per share amount of the total gain on restructuring, net of related income tax effect, and the total gain (loss) on transfers of assets recognized during the period. After the troubled debt restructuring has occurred debtors discuss the extent and amount to which amounts contingently payable are included in the carrying amount of restructured payables, and the conditions under which those amounts would become payable or would be forgiven when there is at least a reasonable possibility that a liability for contingent payments will be incurred.

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