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Loans and Allowance for Loan Losses
 12 Months Ended
Dec. 31, 2013
Loans and Allowance for Loan Losses  
Loans and Allowance for Loan Losses

Note 4—Loans and Allowance for Loan Losses

        The following is a summary of non-acquired loans:

 
   December 31,  
(Dollars in thousands)
   2013   2012  

Non-acquired loans:

              

Commercial non-owner occupied real estate:

              

Construction and land development

   $ 299,951   $ 273,420  

Commercial non-owner occupied

     291,171     290,071  
           
​ ​ ​ ​ ​ ​ ​ ​

Total commercial non-owner occupied real estate

     591,122     563,491  

Consumer real estate:

              

Consumer owner occupied

     548,170     434,503  

Home equity loans

     257,139     255,284  
           
​ ​ ​ ​ ​ ​ ​ ​

Total consumer real estate

     805,309     689,787  

Commercial owner occupied real estate

     833,513     784,152  

Commercial and industrial

     321,824     279,763  

Other income producing property

     143,204     133,713  

Consumer

     136,410     86,934  

Other loans

     33,834     33,163  
           
​ ​ ​ ​ ​ ​ ​ ​

Total non-acquired loans

     2,865,216     2,571,003  

Less allowance for loan losses

     (34,331 )   (44,378 )
           
​ ​ ​ ​ ​ ​ ​ ​

Non-acquired loans, net

   $ 2,830,885   $ 2,526,625  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

        The following is a summary of acquired non-credit impaired loans accounted for under FASB ASC Topic 310-20, net of related discount:

 
   December 31,  
(Dollars in thousands)
   2013   2012  

Acquired non-credit impaired loans:

              

Commercial non-owner occupied real estate:

              

Construction and land development

   $ 58,396   $ 839  

Commercial non-owner occupied

     58,598     2,877  
           
​ ​ ​ ​ ​ ​ ​ ​

Total commercial non-owner occupied real estate

     116,994     3,716  

Consumer real estate:

              

Consumer owner occupied

     742,597     —  

Home equity loans

     264,150     36,139  
           
​ ​ ​ ​ ​ ​ ​ ​

Total consumer real estate

     1,006,747     36,139  

Commercial owner occupied real estate

     73,714     12,141  

Commercial and industrial

     58,773     17,531  

Other income producing property

     74,566     3,688  

Consumer

     267,257     —  
           
​ ​ ​ ​ ​ ​ ​ ​

Total acquired non-credit impaired loans

   $ 1,598,051   $ 73,215  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

        In accordance with FASB ASC Topic 310-30, the Company aggregated acquired loans that have common risk characteristics into pools of loan categories as described in the table below.

        The following is a summary of acquired credit impaired loans accounted for under FASB ASC Topic 310-30 (identified as credit impaired at the time of acquisition), net of related discount:

 
   December 31,  
(Dollars in thousands)
   2013   2012  

Acquired credit impaired loans:

              

Commercial loans greater than or equal to $1 million-CBT

   $ 24,109   $ 39,661  

Commercial real estate

     439,785     372,924  

Commercial real estate—construction and development

     114,126     130,451  

Residential real estate

     476,689     354,718  

Consumer

     103,998     15,685  

Commercial and industrial

     68,862     72,718  

Single pay

     129     456  
           
​ ​ ​ ​ ​ ​ ​ ​

Total acquired credit impaired loans

     1,227,698     986,613  

Less allowance for loan losses

     (11,618 )   (17,218 )
           
​ ​ ​ ​ ​ ​ ​ ​

Acquired credit impaired loans, net

   $ 1,216,080   $ 969,395  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

        Contractual loan payments receivable, estimates of amounts not expected to be collected, other fair value adjustments and the resulting fair values of acquired credit impaired loans at the acquisition date for FFCH (July 26, 2013) are as follows:

 
   July 26, 2013  
(Dollars in thousands)
   Loans Impaired
at Acquisition		   Loans
Not Impaired
at Acquisition		   Total  

Contractual principal and interest

   $ 650,331   $ 222,820   $ 873,151  

Non-accretable difference

     (125,701 )   (24,719 )   (150,420 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash flows expected to be collected

     524,630     198,101     722,731  

Accretable difference

     (102,260 )   (28,520 )   (130,780 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Carrying value

   $ 422,370   $ 169,581   $ 591,951  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

        The table above excludes $1.67 billion ($1.71 billion in contractual principal less a $40.6 million fair value adjustment) in acquired loans at fair value that were identified as either performing with no discount related to credit or as revolving lines of credit (commercial or consumer) as of the acquisition date and are accounted for under FASB ASC Topic 310-20.

        Contractual loan payments receivable, estimates of amounts not expected to be collected, other fair value adjustments and the resulting fair values of acquired credit impaired loans at the acquisition date for Savannah (December 13, 2012) are as follows:

 
   December 13, 2012  
(Dollars in thousands)
   Loans Impaired
at Acquisition		   Loans
Not Impaired
at Acquisition		   Total  

Contractual principal and interest

   $ 155,582   $ 483,293   $ 638,875  

Non-accretable difference

     (37,492 )   (9,460 )   (46,952 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash flows expected to be collected

     118,090     473,833     591,923  

Accretable difference

     (8,615 )   (51,466 )   (60,081 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Carrying value

   $ 109,475   $ 422,367   $ 531,842  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

        The table above excludes $69.5 million ($74.9 million in contractual principal less a $5.4 million fair value adjustment) in acquired loans at fair value that were identified as revolving lines of credit (commercial or consumer) as of the acquisition date and are accounted for under FASB ASC Topic 310-20.

        Contractual loan payments receivable, estimates of amounts not expected to be collected, other fair value adjustments and the resulting fair values of acquired credit impaired loans at the acquisition date for Peoples (April 24, 2012) are as follows:

 
   April 24, 2012  
(Dollars in thousands)
   Loans Impaired
at Acquisition		   Loans
Not Impaired
at Acquisition		   Total  

Contractual principal and interest

   $ 56,940   $ 250,023   $ 306,963  

Non-accretable difference

     (21,237 )   (16,560 )   (37,797 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash flows expected to be collected

     35,703     233,463     269,166  

Accretable difference

     (4,968 )   (29,953 )   (34,921 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Carrying value

   $ 30,735   $ 203,510   $ 234,245  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

        Contractual loan payments receivable, estimates of amounts not expected to be collected, other fair value adjustments and the resulting carrying values of acquired credit impaired loans as of December 31, 2013, and 2012 are as follows:

 
   December 31,  
(Dollars in thousands)
   2013   2012  

Contractual principal and interest

   $ 1,700,129   $ 1,288,133  

Non-accretable difference

     (222,091 )   (140,671 )
           
​ ​ ​ ​ ​ ​ ​ ​

Cash flows expected to be collected

     1,478,038     1,147,462  

Accretable difference

     (250,340 )   (160,849 )
           
​ ​ ​ ​ ​ ​ ​ ​

Carrying value

   $ 1,227,698   $ 986,613  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Allowance for acquired loan losses

   $ (11,618 ) $ (17,218 )
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

        Income on acquired credit impaired loans that are not impaired at the acquisition date is recognized in the same manner as loans impaired at the acquisition date. A portion of the fair value discount on acquired non-impaired loans has been ascribed as an accretable difference that is accreted into interest income over the estimated remaining life of the loans. The remaining nonaccretable difference represents cash flows not expected to be collected.

        The following are changes in the carrying value of acquired credit impaired loans:

 
   Years Ended December 31,  
(Dollars in thousands)
   2013   2012  

Balance at beginning of period

   $ 969,395   $ 370,581  

Fair value of acquired loans

     591,951     766,087  

Net reductions for payments, foreclosures, and accretion

     (344,348 )   (166,761 )

Change in the allowance for loan losses on acquired loans

     (918 )   (512 )
           
​ ​ ​ ​ ​ ​ ​ ​

Balance at end of period, net of allowance for loan losses on acquired loans

   $ 1,216,080   $ 969,395  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

        The following are changes in the carrying amount of accretable difference for acquired credit impaired loans for the year ended December 31, 2013 and 2012:

 
   Years Ended
December 31,		  
(Dollars in thousands)
   2013   2012  

Balance at beginning of period

   $ 160,849   $ 94,600  

Addition from the First Financial acquisition

     130,780     —  

Addition from the Peoples acquisition

     —     34,921  

Addition from the Savannah acquisition

     —     60,081  

Interest income

     (104,705 )   (52,628 )

Reclass of nonaccretable difference due to improvement in expected cash flows

     71,136     35,739  

Other changes, net

     (7,720 )   (11,864 )
           
​ ​ ​ ​ ​ ​ ​ ​

Balance at end of period

   $ 250,340   $ 160,849  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

        On December 13, 2006, the FDIC, Federal Reserve, and other regulatory agencies collectively revised the banking agencies' 1993 policy statement on the allowance for loan and lease losses to ensure consistency with generally accepted accounting principles in the United States and more recent supervisory guidance. Our loan loss policy adheres to the interagency guidance.

        The allowance for loan losses is based upon estimates made by management. We maintain an allowance for loan losses at a level that we believe is appropriate to cover estimated credit losses on individually evaluated loans that are determined to be impaired as well as estimated credit losses inherent in the remainder of our loan portfolio. Arriving at the allowance involves a high degree of management judgment and results in a range of estimated losses. We regularly evaluate the adequacy of the allowance through our internal risk rating system, outside credit review, and regulatory agency examinations to assess the quality of the loan portfolio and identify problem loans. The evaluation process also includes our analysis of current economic conditions, composition of the loan portfolio, past due and nonaccrual loans, concentrations of credit, lending policies and procedures, and historical loan loss experience. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary based on, among other factors, changes in economic conditions in our markets. In addition, regulatory agencies, as an integral part of their examination process, periodically review our allowances for losses on loans. These agencies may require management to recognize additions to the allowances based on their judgments about information available to them at the time of their examination. Because of these and other factors, it is possible that the allowances for losses on loans may change. The provision for loan losses is charged to expense in an amount necessary to maintain the allowance at an appropriate level.

        The allowance for loan losses on non-acquired loans consists of general and specific reserves. The general reserves are determined by applying loss percentages to the portfolio that are based on historical loss experience for each class of loans and management's evaluation and "risk grading" of the loan portfolio. Additionally, the general economic and business conditions affecting key lending areas, credit quality trends, collateral values, loan volumes and concentrations, seasoning of the loan portfolio, the findings of internal and external credit reviews and results from external bank regulatory examinations are included in this evaluation. Currently, these adjustments are applied to the non-acquired loan portfolio when estimating the level of reserve required. The specific reserves are determined on a loan-by-loan basis based on management's evaluation of our exposure for each credit, given the current payment status of the loan and the value of any underlying collateral. These are loans classified by management as doubtful or substandard. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. Generally, the need for specific reserve is evaluated on impaired loans greater than $250,000, and once a specific reserve is established for a loan, a charge off of that amount occurs in the quarter subsequent to the establishment of the specific reserve. Loans that are determined to be impaired are provided a specific reserve, if necessary, and are excluded from the calculation of the general reserves.

        With the FFCH acquisition, the Company segregated the loan portfolio into performing loans ("non-credit impaired) and purchased credit impaired loans. The performing loans and revolving type loans are accounted for under FASB ASC 310-20, with each loan being accounted for individually. The allowance for loan losses on these loans will be measured and recorded consistent with non-acquired loans. The acquired credit impaired loans will follow the description in the next paragraph.

        In determining the acquisition date fair value of purchased loans, and in subsequent accounting, the Company generally aggregates purchased loans into pools of loans with common risk characteristics. Expected cash flows at the acquisition date in excess of the fair value of loans are recorded as interest income over the life of the loans using a level yield method if the timing and amount of the future cash flows of the pool is reasonably estimable. Subsequent to the acquisition date, increases in cash flows over those expected at the acquisition date are reclassified from the non-accretable difference to accretable difference and recognized as interest income prospectively. Decreases in expected cash flows after the acquisition date are recognized by recording an allowance for loan losses. Management analyzes the acquired loan pools using various assessments of risk to determine an expected loss. The expected loss is derived based upon a loss given default based upon the collateral type and/or detailed review by loan officers of loans greater than $25,000 and the probability of default that is determined based upon historical data at the loan level. The Company changed the threshold of loans reviewed from $500,000 during the second quarter to more accurately derive the expected loss in pools where there are few, if any, loans greater than $500,000. Trends are reviewed in terms of accrual status, past due status, and weighted-average grade of the loans within each of the accounting pools. In addition, the relationship between the change in the unpaid principal balance and change in the mark is assessed to correlate the directional consistency of the expected loss for each pool. Offsetting the impact of the provision established for acquired loans covered under FDIC loss share agreements, the receivable from the FDIC is adjusted to reflect the indemnified portion of the post-acquisition exposure with a corresponding credit to the provision for loan losses. (For further discussion of the Company's allowance for loan losses on acquired loans, see Note 1—Summary of Significant Accounting Policies and Note 2—Mergers and Acquisitions.)

        An aggregated analysis of the changes in allowance for loan losses is as follows:

(Dollars in thousands)
   Non-acquired
Loans		   Acquired Credit
Impaired Loans		   Total  

Year ended December 31, 2013:

                    

Balance at beginning of period

   $ 44,378   $ 17,218   $ 61,596  

Loans charged-off

     (15,289 )   —     (15,289 )

Recoveries of loans previously charged off

     4,224     —     4,224  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net charge-offs

     (11,065 )   —     (11,065 )

Provision for loan losses

     1,018     (918 )   100  

Benefit attributable to FDIC loss share agreements

     —     1,786     1,786  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total provision for loan losses charged to operations

     1,018     868     1,886  

Provision for loan losses recorded through the FDIC loss share receivable

     —     (1,786 )   (1,786 )

Reduction due to loan removals

     —     (4,682 )   (4,682 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance at end of period

   $ 34,331   $ 11,618   $ 45,949  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Year ended December 31, 2012:

                    

Balance at beginning of period

   $ 49,367   $ 23,607   $ 72,974  

Loans charged-off

     (21,930 )   —     (21,930 )

Recoveries of loans previously charged off

     3,756     —     3,756  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net charge-offs

     (18,174 )   —     (18,174 )

Provision for loan losses

     13,185     512     13,697  

Benefit attributable to FDIC loss share agreements

     —     (78 )   (78 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total provision for loan losses charged to operations

     13,185     434     13,619  

Provision for loan losses recorded through the FDIC loss share receivable

     —     78     78  

Reduction due to loan removals

     —     (6,901 )   (6,901 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance at end of period

   $ 44,378   $ 17,218   $ 61,596  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

        The following tables present a disaggregated analysis of activity in the allowance for loan losses and loan balances for non-acquired loans:

(Dollars in thousands)
   Construction
& Land
Development		   Commercial
Non-owner
Occupied		   Commercial
Owner
Occupied		   Consumer
Owner
Occupied		   Home
Equity		   Commercial
& Industrial		   Other Income
Producing
Property		   Consumer   Other
Loans		   Total  

Year ended December 31, 2013:

                                                              

Allowance for loan losses:

                                                              

Balance, December 31, 2012

   $ 10,836   $ 4,921   $ 8,743   $ 6,568   $ 3,626   $ 4,939   $ 3,747   $ 781   $ 217   $ 44,378  

Charge-offs

     (4,656 )   (660 )   (2,695 )   (1,462 )   (1,219 )   (1,329 )   (816 )   (2,452 )   —     (15,289 )

Recoveries

     1,395     353     41     633     228     514     224     836     —     4,224  

Provision

     (786 )   (937 )   1,678     330     147     (532 )   (646 )   1,772     (8 )   1,018  
                                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, December 31, 2013

   $ 6,789   $ 3,677   $ 7,767   $ 6,069   $ 2,782   $ 3,592   $ 2,509   $ 937   $ 209   $ 34,331  
                                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                           

Loans individually evaluated for impairment

   $ 704   $ —   $ 10   $ 271   $ —   $ —   $ 646   $ —   $ —   $ 1,631  
                                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                           

Loans collectively evaluated for impairment

   $ 6,085   $ 3,677   $ 7,757   $ 5,798   $ 2,782   $ 3,592   $ 1,863   $ 937   $ 209   $ 32,700  
                                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                           

Loans:

                                                              

Loans individually evaluated for impairment

   $ 5,739   $ 2,681   $ 11,560   $ 3,013   $ —   $ 405   $ 2,649   $ —   $ —   $ 26,047  

Loans collectively evaluated for impairment

     294,212     288,490     821,953     545,157     257,139     321,419     140,555     136,410     33,834     2,839,169  
                                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total non-acquired loans

   $ 299,951   $ 291,171   $ 833,513   $ 548,170   $ 257,139   $ 321,824   $ 143,204   $ 136,410   $ 33,834   $ 2,865,216  
                                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                           

Year ended December 31, 2012:

                                                              

Allowance for loan losses:

                                                              

Balance, December 31, 2011

   $ 12,373   $ 6,109   $ 10,356   $ 7,453   $ 4,269   $ 3,901   $ 3,636   $ 1,145   $ 125   $ 49,367  

Charge-offs

     (8,454 )   (2,348 )   (2,781 )   (1,850 )   (1,394 )   (2,033 )   (924 )   (2,146 )   —     (21,930 )

Recoveries

     1,428     282     5     124     600     228     361     728     —     3,756  

Provision

     5,489     878     1,163     841     151     2,843     674     1,054     92     13,185  
                                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, December 31, 2012

   $ 10,836   $ 4,921   $ 8,743   $ 6,568   $ 3,626   $ 4,939   $ 3,747   $ 781   $ 217   $ 44,378  
                                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                           

Loans individually evaluated for impairment

   $ 1,573   $ 411   $ 648   $ 213   $ —   $ 1,030   $ 1,004   $ —   $ —   $ 4,879  
                                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                           

Loans collectively evaluated for impairment

   $ 9,263   $ 4,510   $ 8,095   $ 6,355   $ 3,626   $ 3,909   $ 2,743   $ 781   $ 217   $ 39,499  
                                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                           

Loans:

                                                              

Loans individually evaluated for impairment

   $ 13,549   $ 5,344   $ 20,212   $ 1,954   $ —   $ 1,783   $ 4,393   $ —   $ —   $ 47,235  

Loans collectively evaluated for impairment

     259,871     284,727     763,940     432,549     255,284     277,980     129,320     86,934     33,163     2,523,768  
                                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total non-acquired loans

   $ 273,420   $ 290,071   $ 784,152   $ 434,503   $ 255,284   $ 279,763   $ 133,713   $ 86,934   $ 33,163   $ 2,571,003  
                                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                           

        As of December 31, 2013 and 2012, the Company has not recorded any allowance for loan losses for loans acquired and accounted for under FASB ASC Topic 310-20.

        The following tables present a disaggregated analysis of activity in the allowance for loan losses and loan balances for acquired credit impaired loans:

(Dollars in thousands)
   Commercial
Loans Greater
Than or Equal
to $1 Million-CBT		   Commercial
Real Estate		   Commercial
Real Estate-
Construction and
Development		   Residential
Real Estate		   Consumer   Commercial
and Industrial		   Single Pay   Total  

Year ended December 31, 2013:

                                                  

Allowance for loan losses:

                                                  

Balance, December 31, 2012

   $ 5,337   $ 1,517   $ 1,628   $ 4,207   $ 96   $ 4,139   $ 294   $ 17,218  

Provision for loan losses before benefit attributable to FDIC loss share agreements

     (3,109 )   299     2,347     1,057     442     (1,786 )   (168 )   (918 )

Benefit attributable to FDIC loss share agreements

     2,934     (456 )   (1,645 )   (520 )   (412 )   1,719     166     1,786  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total provision for loan losses charged to operations

     (175 )   (157 )   702     537     30     (67 )   (2 )   868  

Provision for loan losses recorded through the FDIC loss share receivable

     (2,934 )   456     1,645     520     412     (1,719 )   (166 )   (1,786 )

Reduction due to loan removals

     (1,925 )   —     (1,731 )   (132 )   —     (872 )   (22 )   (4,682 )
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, December 31, 2013

   $ 303   $ 1,816   $ 2,244   $ 5,132   $ 538   $ 1,481   $ 104   $ 11,618  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

Loans individually evaluated for impairment

   $ —   $ —   $ —   $ —   $ —   $ —   $ —   $ —  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

Loans collectively evaluated for impairment

   $ 303   $ 1,816   $ 2,244   $ 5,132   $ 538   $ 1,481   $ 104   $ 11,618  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

Loans:*

                                                  

Loans individually evaluated for impairment

   $ —   $ —   $ —   $ —   $ —   $ —   $ —   $ —  

Loans collectively evaluated for impairment

     24,109     439,785     114,126     476,689     103,998     68,862     129     1,227,698  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total acquired credit impaired loans

   $ 24,109   $ 439,785   $ 114,126   $ 476,689   $ 103,998   $ 68,862   $ 129   $ 1,227,698  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

Year ended December 31, 2012:

                                                  

Allowance for loan losses:

                                                  

Balance, December 31, 2011

   $ 12,417   $ 1,318   $ —   $ 5,332   $ —   $ 4,564   $ (24 ) $ 23,607  

Provision for loan losses before benefit attributable to FDIC loss share agreements

     (1,298 )   199     1,628     (855 )   96     (259 )   1,001     512  

Benefit attributable to FDIC loss share agreements

     1,233     (30 )   (1,319 )   813     (88 )   264     (951 )   (78 )
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total provision for loan losses charged to operations

     (65 )   169     309     (42 )   8     5     50     434  

Provision for loan losses recorded through the FDIC loss share receivable

     (1,233 )   30     1,319     (813 )   88     (264 )   951     78  

Reduction due to loan removals

     (5,782 )   —     —     (270 )   —     (166 )   (683 )   (6,901 )
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, December 31, 2012

   $ 5,337   $ 1,517   $ 1,628   $ 4,207   $ 96   $ 4,139   $ 294   $ 17,218  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

Loans individually evaluated for impairment

   $ —   $ —   $ —   $ —   $ —   $ —   $ —   $ —  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

Loans collectively evaluated for impairment

   $ 5,337   $ 1,517   $ 1,628   $ 4,207   $ 96   $ 4,139   $ 294   $ 17,218  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

Loans:*

                                                  

Loans individually evaluated for impairment

   $ —   $ —   $ —   $ —   $ —   $ —   $ —   $ —  

Loans collectively evaluated for impairment

     39,661     372,924     130,451     354,718     15,685     72,718     456     986,613  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total acquired credit impaired loans

   $ 39,661   $ 372,924   $ 130,451   $ 354,718   $ 15,685   $ 72,718   $ 456   $ 986,613  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

*—The carrying value of acquired credit impaired loans includes a non-accretable difference which is primarily associated with the assessment of credit quality of acquired loans.

        As part of the on-going monitoring of the credit quality of the Company's loan portfolio, management tracks certain credit quality indicators including trends related to (i) the level of classified loans, (ii) net charge-offs, (iii) non-performing loans (see details below) and (iv) the general economic conditions of the markets that we serve.

        The Company utilizes a risk grading matrix to assign a risk grade to each of its loans. A description of the general characteristics of the risk grades is as follows:

  • •
    Pass—These loans range from minimal credit risk to average however still acceptable credit risk.

    •
    Special mention—A special mention loan has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or the institution's credit position at some future date.

    •
    Substandard—A substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness, or weaknesses, that may jeopardize the liquidation of the debt. A substandard loan is characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected.

    •
    Doubtful—A doubtful loan has all of the weaknesses inherent in one classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of the currently existing facts, conditions and values, highly questionable and improbable.

        The following table presents the credit risk profile by risk grade of commercial loans for non-acquired loans:

 
   Construction & Development   Commercial Non-owner
Occupied		   Commercial Owner Occupied  
(Dollars in thousands)
   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		  

Pass

   $ 263,698   $ 215,793   $ 259,120   $ 232,714   $ 785,406   $ 716,578  

Special mention

     20,814     31,670     24,779     38,473     26,148     31,800  

Substandard

     15,439     25,957     7,272     18,884     21,959     35,774  

Doubtful

     —     —     —     —     —     —  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 299,951   $ 273,420   $ 291,171   $ 290,071   $ 833,513   $ 784,152  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

 

 
   Commercial & Industrial   Other Income Producing
Property		   Commercial Total  
 
   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		  

Pass

   $ 309,360   $ 265,148   $ 124,519   $ 114,809   $ 1,742,103   $ 1,545,042  

Special mention

     10,376     8,626     9,903     9,324     92,020     119,893  

Substandard

     2,088     5,989     8,753     9,580     55,511     96,184  

Doubtful

     —     —     29     —     29     —  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 321,824   $ 279,763   $ 143,204   $ 133,713   $ 1,889,663   $ 1,761,119  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        The following table presents the credit risk profile by risk grade of consumer loans for non-acquired loans:

 
   Consumer Owner Occupied   Home Equity   Consumer  
(Dollars in thousands)
   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		  

Pass

   $ 500,999   $ 388,822   $ 243,615   $ 241,184   $ 135,476   $ 85,517  

Special mention

     25,317     24,515     8,437     7,837     646     897  

Substandard

     21,854     21,166     5,064     6,239     288     519  

Doubtful

     —     —     23     24     —     1  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 548,170   $ 434,503   $ 257,139   $ 255,284   $ 136,410   $ 86,934  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           


 

 
   Other   Consumer Total    
    
  
 
   December 31, 2013   December 31, 2012   December 31, 2013   December 31, 2012    
    
  

Pass

   $ 33,834   $ 33,163   $ 913,924   $ 748,686              

Special mention

     —     —     34,400     33,249              

Substandard

     —     —     27,206     27,924              

Doubtful

     —     —     23     25              
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 33,834   $ 33,163   $ 975,553   $ 809,884              
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                               

        The following table presents the credit risk profile by risk grade of total non-acquired loans:

 
   Total Non-acquired Loans    
    
    
    
  
(Dollars in thousands)
   December 31,
2013		   December 31,
2012		    
    
    
    
  

Pass

   $ 2,656,027   $ 2,293,728                          

Special mention

     126,420     153,142                          

Substandard

     82,717     124,108                          

Doubtful

     52     25                          
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 2,865,216   $ 2,571,003                          
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

        At December 31, 2013, the aggregate amount of non-acquired substandard and doubtful loans totaled $82.8 million. When these loans are combined with non-acquired OREO of $13.5 million, our non-acquired classified assets (as defined by the state of South Carolina and the FDIC, our primary regulators) were $96.3 million. At December 31, 2012, the amounts were $124.1 million, $19.1 million, and $143.2 million, respectively.

        The following table presents the credit risk profile by risk grade of commercial loans for acquired non-credit impaired loans:

 
   Construction & Development   Commercial Non-owner
Occupied		   Commercial Owner Occupied  
(Dollars in thousands)
   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		  

Pass

   $ 57,389   $ 796   $ 56,539   $ 2,877   $ 71,984   $ 11,977  

Special mention

     109     —     1,565     —     318     164  

Substandard

     898     43     494     —     1,412     —  

Doubtful

     —     —     —     —     —     —  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 58,396   $ 839   $ 58,598   $ 2,877   $ 73,714   $ 12,141  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           


 

 
   Commercial & Industrial   Other Income Producing
Property		    
    
  
 
   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		    
    
  

Pass

   $ 56,777   $ 17,515   $ 70,812   $ 3,352              

Special mention

     924     —     2,177     244              

Substandard

     1,072     16     1,577     92              

Doubtful

     —     —     —     —              
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 58,773   $ 17,531   $ 74,566   $ 3,688              
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                               

        The following table presents the credit risk profile by risk grade of consumer loans for acquired non-credit impaired loans:

 
   Consumer Owner Occupied   Home Equity   Consumer  
(Dollars in thousands)
   December 31, 2013   December 31,
2012		   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		  

Pass

   $ 739,894   $ —   $ 246,274   $ 34,656   $ 266,645   $ —  

Special mention

     417     —     6,733     167     127     —  

Substandard

     2,286     —     11,143     1,316     485     —  

Doubtful

     —     —     —     —     —     —  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 742,597   $ —   $ 264,150   $ 36,139   $ 267,257   $ —  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        The following table presents the credit risk profile by risk grade of acquired credit impaired loans (identified as credit-impaired at the time of acquisition), net of the related discount (this table should be read in conjunction with the allowance for acquired loan losses table found on page F-43):

 
   Commercial Loans Greater
Than or Equal to
$1 million-CBT		   Commercial Real Estate   Commercial Real Estate—
Construction and
Development		  
(Dollars in thousands)
   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		  

Pass

   $ 12,047   $ 13,384   $ 244,293   $ 297,408   $ 38,748   $ 87,142  

Special mention

     2,513     3,098     46,159     22,279     13,762     7,742  

Substandard

     9,549     23,179     149,333     53,072     61,616     34,754  

Doubtful

     —     —     —     165     —     813  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 24,109   $ 39,661   $ 439,785   $ 372,924   $ 114,126   $ 130,451  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           


 

 
   Residential Real Estate   Consumer   Commercial & Industrial  
 
   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		   December 31,
2013		   December 31,
2012		  

Pass

   $ 198,738   $ 254,837   $ 8,804   $ 12,927   $ 38,450   $ 54,013  

Special mention

     91,468     38,211     38,322     783     3,968     5,282  

Substandard

     186,405     61,644     56,872     1,974     26,444     13,393  

Doubtful

     78     26     —     1     —     30  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 476,689   $ 354,718   $ 103,998   $ 15,685   $ 68,862   $ 72,718  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           


 

 
   Single Pay    
    
    
    
  
 
   December 31,
2013		   December 31,
2012		    
    
    
    
  

Pass

   $ 52   $ 58                          

Special mention

     —     52                          

Substandard

     77     346                          

Doubtful

     —     —                          
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 129   $ 456                          
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

        The risk grading of acquired credit impaired loans is determined utilizing a loan's contractual balance, while the amount recorded in the financial statements and reflected above is the carrying value. In an FDIC-assisted acquisition, covered acquired loans are initially recorded at their fair value, including a credit discount due to the high concentration of substandard and doubtful loans. In addition to the credit discount and the allowance for loan losses on covered acquired loans, the Company's risk of loss is mitigated by the FDIC loss share arrangement.

        The following table presents an aging analysis of past due loans, segregated by class for non-acquired loans:

(Dollars in thousands)
   30 - 59 Days
Past Due		   60 - 89 Days
Past Due		   90+ Days
Past Due		   Total
Past Due		   Current   Total
Loans		  

December 31, 2013

                                      

Commercial real estate:

                                      

Construction and land development

   $ 557   $ 476   $ 2,707   $ 3,740   $ 296,211   $ 299,951  

Commercial non-owner occupied

     1,780     1     2,684     4,465     286,706     291,171  

Commercial owner occupied

     457     650     3,601     4,708     828,805     833,513  

Consumer real estate:

                                      

Consumer owner occupied

     1,526     1,107     2,621     5,254     542,916     548,170  

Home equity loans

     780     214     422     1,416     255,723     257,139  

Commercial and industrial

     390     105     370     865     320,959     321,824  

Other income producing property

     950     19     2,634     3,603     139,601     143,204  

Consumer

     337     142     28     507     135,903     136,410  

Other loans

     33     36     30     99     33,735     33,834  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 6,810   $ 2,750   $ 15,097   $ 24,657   $ 2,840,559   $ 2,865,216  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

December 31, 2012

                                      

Commercial real estate:

                                      

Construction and land development

   $ 812   $ 701   $ 10,435   $ 11,948   $ 261,472   $ 273,420  

Commercial non-owner occupied

     1,013     572     3,605     5,190     284,881     290,071  

Commercial owner occupied

     1,141     40     9,827     11,008     773,144     784,152  

Consumer real estate:

                                      

Consumer owner occupied

     1,433     241     4,045     5,719     428,784     434,503  

Home equity loans

     735     170     395     1,300     253,984     255,284  

Commercial and industrial

     1,187     513     549     2,249     277,514     279,763  

Other income producing property

     322     278     3,253     3,853     129,860     133,713  

Consumer

     364     151     112     627     86,307     86,934  

Other loans

     49     41     36     126     33,037     33,163  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 7,056   $ 2,707   $ 32,257   $ 42,020   $ 2,528,983   $ 2,571,003  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        The following table presents an aging analysis of past due loans, segregated by class for acquired non-credit impaired loans:

(Dollars in thousands)
   30 - 59 Days
Past Due		   60 - 89 Days
Past Due		   90+ Days
Past Due		   Total
Past Due		   Current   Total
Loans		  

December 31, 2013

                                      

Commercial real estate:

                                      

Construction and land development

   $ 371   $ —   $ 464   $ 835   $ 57,561   $ 58,396  

Commercial non-owner occupied

     105     —     17     122     58,476     58,598  

Commercial owner occupied

     —     71     272     343     73,371     73,714  

Consumer real estate:

                                      

Consumer owner occupied

     3,368     393     1,196     4,957     737,640     742,597  

Home equity loans

     857     67     625     1,549     262,601     264,150  

Commercial and industrial

     827     894     282     2,003     56,770     58,773  

Other income producing property

     431     —     —     431     74,135     74,566  

Consumer

     291     213     154     658     266,599     267,257  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 6,250   $ 1,638   $ 3,010   $ 10,898   $ 1,587,153   $ 1,598,051  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

December 31, 2012

                                      

Commercial real estate:

                                      

Construction and land development

   $ —   $ —   $ 43   $ 43   $ 796   $ 839  

Commercial non-owner occupied

     —     —     —     —     2,877     2,877  

Commercial owner occupied

     —     —     —     —     12,141     12,141  

Consumer real estate:

                                      

Consumer owner occupied

     —     —     —     —     —     —  

Home equity loans

     242     111     105     458     35,681     36,139  

Commercial and industrial

     11     —     —     11     17,520     17,531  

Other income producing property

     135     —     —     135     3,553     3,688  

Consumer

     —     —     —     —     —     —  

Other loans

     —     —     —     —     —     —  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 388   $ 111   $ 148   $ 647   $ 72,568   $ 73,215  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        The following table presents an aging analysis of past due loans, segregated by class for acquired credit impaired loans:

(Dollars in thousands)
   30 - 59 Days
Past Due		   60 - 89 Days
Past Due		   90+ Days
Past Due		   Total
Past Due		   Current   Total
Loans		  

December 31, 2013

                                      

Commercial loans greater than or equal to $1 million-CBT

   $ —   $ —   $ 7,217   $ 7,217   $ 16,892   $ 24,109  

Commercial real estate

     4,493     3,728     24,362     32,583     407,202     439,785  

Commercial real estate—construction and development

     4,847     9,166     17,567     31,580     82,546     114,126  

Residential real estate

     13,794     3,792     27,061     44,647     432,042     476,689  

Consumer

     2,390     552     2,050     4,992     99,006     103,998  

Commercial and industrial

     3,875     634     3,829     8,338     60,524     68,862  

Single pay

     —     —     46     46     83     129  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 29,399   $ 17,872   $ 82,132   $ 129,403   $ 1,098,295   $ 1,227,698  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

December 31, 2012

                                      

Commercial loans greater than or equal to $1 million-CBT

   $ 923   $ 993   $ 15,810   $ 17,726   $ 21,935   $ 39,661  

Commercial real estate

     5,866     2,306     17,488     25,660     347,264     372,924  

Commercial real estate—construction and development

     2,976     1,573     18,718     23,267     107,184     130,451  

Residential real estate

     7,610     4,828     18,151     30,589     324,129     354,718  

Consumer

     181     76     736     993     14,692     15,685  

Commercial and industrial

     1,255     285     5,069     6,609     66,109     72,718  

Single pay

     1     201     62     264     192     456  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 18,812   $ 10,262   $ 76,034   $ 105,108   $ 881,505   $ 986,613  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        The following is a summary of information pertaining to impaired non-acquired and acquired loans accounted for under FASB ASC Topic 310-20:

(Dollars in thousands)
   Unpaid
Contractual
Principal
Balance		   Recorded
Investment
With No
Allowance		   Gross
Recorded
Investment
With Allowance		   Total
Recorded
Investment		   Related
Allowance		  

December 31, 2013

                                

Commercial real estate:

                                

Construction and land development

   $ 7,341   $ 3,555   $ 2,184   $ 5,739   $ 704  

Commercial non-owner occupied

     3,592     2,681     —     2,681     —  

Commercial owner occupied

     14,017     10,441     1,119     11,560     10  

Consumer real estate:

    
 		    
 		    
 		    
 		    
 		  

Consumer owner occupied

     3,063     —     3,013     3,013     271  

Home equity loans

     —     —     —     —     —  

Commercial and industrial

    
477		    
405		    
—		    
405		    
—		  

Other income producing property

     2,794     554     2,095     2,649     646  

Consumer

     —     —     —     —     —  

Other loans

     —     —     —     —     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total impaired loans

   $ 31,284   $ 17,636   $ 8,411   $ 26,047   $ 1,631  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

December 31, 2012

                                

Commercial real estate:

                                

Construction and land development

   $ 21,350   $ 8,659   $ 4,890   $ 13,549   $ 1,573  

Commercial non-owner occupied

     7,564     3,148     2,196     5,344     411  

Commercial owner occupied

     23,566     15,698     4,514     20,212     648  

Consumer real estate:

    
 		    
 		    
 		    
 		    
 		  

Consumer owner occupied

     2,040     —     1,954     1,954     213  

Home equity loans

     —     —     —     —     —  

Commercial and industrial

    
2,595		    
464		    
1,319		    
1,783		    
1,030		  

Other income producing property

     4,656     1,382     3,011     4,393     1,004  

Consumer

     —     —     —     —     —  

Other loans

     —     —     —     —     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total impaired loans

   $ 61,771   $ 29,351   $ 17,884   $ 47,235   $ 4,879  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

        Acquired credit impaired loans are accounted for in pools as shown on page F-36 rather than being individually evaluated for impairment; therefore, the table above excludes acquired credit impaired loans.

        The following summarizes the average investment in impaired loans, non-acquired and acquired loans accounted for under FASB ASC Topic 310-20, and interest income recognized on these loans:

 
   Years Ended December 31,  
 
   2013   2012  
(Dollars in thousands)
   Average
Investment in
Impaired Loans		   Interest Income
Recognized		   Average
Investment in
Impaired Loans		   Interest Income
Recognized		  

Commercial real estate:

                          

Construction and land development

   $ 10,589   $ 98   $ 18,048   $ 114  

Commercial non-owner occupied

     4,030     —     7,503     85  

Commercial owner occupied

     15,170     106     17,460     347  

Consumer real estate:

    
 		    
 		    
 		    
 		  

Consumer owner occupied

     845     154     2,223     65  

Home equity loans

     —     —     —     —  

Commercial and industrial

    
1,234		    
—		    
921		    
23		  

Other income producing property

     3,463     35     3,171     117  

Consumer

     —     —     —     —  

Other loans

     —     —     —     —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total Impaired Loans

   $ 35,331   $ 393   $ 49,326   $ 751  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

        The following is a summary of information pertaining to non-acquired nonaccrual loans by class, including restructured loans:

 
   December 31,  
(Dollars in thousands)
   2013   2012  

Commercial non-owner occupied real estate:

              

Construction and land development

   $ 5,819   $ 11,961  

Commercial non-owner occupied

     2,912     4,780  
           
​ ​ ​ ​ ​ ​ ​ ​

Total commercial non-owner occupied real estate

     8,731     16,741  

Consumer real estate:

              

Consumer owner occupied

     8,382     8,025  

Home equity loans

     1,128     1,835  
           
​ ​ ​ ​ ​ ​ ​ ​

Total consumer real estate

     9,510     9,860  

Commercial owner occupied real estate

     7,753     14,146  

Commercial and industrial

     586     2,152  

Other income producing property

     4,704     5,405  

Consumer

     49     83  

Other loans

     —     —  

Restructured loans

     10,690     13,151  
           
​ ​ ​ ​ ​ ​ ​ ​

Total loans on nonaccrual status

   $ 42,023   $ 61,538  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

        In the course of resolving delinquent loans, the Bank may choose to restructure the contractual terms of certain loans. Any loans that are modified are reviewed by the Bank to determine if a troubled debt restructuring ("TDR" or "restructured loan") has occurred. A TDR is a modification in which the Bank grants a concession to a borrower that it would not otherwise consider due to economic or legal reasons related to a borrower's financial difficulties. The concessions granted on TDRs generally include terms to reduce the interest rate, extend the term of the debt obligation, or modify the payment structure on the debt obligation.

        The Bank designates loan modifications as TDRs when it grants a concession to the borrower that it would not otherwise consider due to the borrower experiencing financial difficulty (FASB ASC Topic 310-40). Loans on nonaccrual status at the date of modification are initially classified as nonaccrual TDRs. Loans on accruing status at the date of concession are initially classified as accruing TDRs if the note is reasonably assured of repayment and performance is expected in accordance with its modified terms. Such loans may be designated as nonaccrual loans subsequent to the concession date if reasonable doubt exists as to the collection of interest or principal under the restructuring agreement. Nonaccrual TDRs are returned to accruing status when there is economic substance to the restructuring, there is documented credit evaluation of the borrower's financial condition, the remaining balance is reasonably assured of repayment in accordance with its modified terms, and the borrower has demonstrated sustained repayment performance in accordance with the modified terms for a reasonable period of time (generally a minimum of six months).

        The following table presents non-acquired and acquired non-credit impaired loans designated as TDRs segregated by class and type of concession that were restructured during the year ended December 31, 2013 and 2012:

 
   Years Ended December 31,  
 
   2013   2012   2011  
(Dollars in thousands)
   Number
of
loans		   Pre-
Modification
Outstanding
Recorded
Investment		   Post-
Modification
Outstanding
Recorded
Investment		   Number
of
loans		   Pre-
Modification
Outstanding
Recorded
Investment		   Post-
Modification
Outstanding
Recorded
Investment		   Number
of
loans		   Pre-
Modification
Outstanding
Recorded
Investment		   Post-
Modification
Outstanding
Recorded
Investment		  

Interest rate modification

                                                        

Construction and land development

     1   $ 120   $ 120     1   $ 165   $ 156     15   $ 3,595   $ 3,194  

Commercial non-owner occupied

     1     246     233     —     —     —     —     —     —  

Commercial owner occupied

     1     750     747     4     5,355     5,215     2     1,334     1,286  

Consumer owner occupied

     1     124     116     —     —     —     2     759     737  

Commercial and industrial

     —     —     —     1     474     464     —     —     —  

Other income producting property

     —     —     —     —     —     —     2     409     404  
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total interest rate modifications

     4   $ 1,240   $ 1,216     6   $ 5,994   $ 5,835     21   $ 6,097   $ 5,621  
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Term modification

                                                        

Construction and land development

     —     —     —     2     835     824     2     2,938     2,929  

Commercial non-owner occupied

     —     —     —     1     700     700     —     —     —  

Commercial owner occupied

     —     —     —     —     —     —     2     928     864  

Consumer owner occupied

     1     2,442     2,442     —     —     —     1     605     591  
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total term modifications

     1   $ 2,442   $ 2,442     3   $ 1,535   $ 1,524     5   $ 4,471   $ 4,384  
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

     5   $ 3,682   $ 3,658     9   $ 7,529   $ 7,359     26   $ 10,568   $ 10,005  
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                       

        At December 31, 2013 and December 31, 2012, the balance of accruing TDRs was $5.3 million, $6.3 million, respectively.

        The following table presents the changes in status of non-acquired loans restructured within the previous 12 months as of December 31, 2013 by type of concession:

 
   Paying Under
Restructured Terms		   Converted to
Nonaccrual		   Foreclosures and
Defaults		  
(Dollars in thousands)
   Number
of Loans		   Recorded
Investment		   Number
of Loans		   Recorded
Investment		   Number
of Loans		   Recorded
Investment		  

Interest rate modification

     4   $ 1,216     —   $ —     —   $ —  

Term modification

     1     2,442     —     —     —     —  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

     5   $ 3,658     —   $ —     —   $ —  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        The amount of specific reserve associated with non-acquired restructured loans was $781,000 at December 31, 2013, none of which was related to the restructured loans that had subsequently defaulted. The Company had $14,000 remaining availability under commitments to lend additional funds on these restructured loans at December 31, 2013.