Loans and Asset Quality Information (Tables)

3 Months Ended

Mar. 31, 2015

Loans and Asset Quality Information [Abstract]

Summary of the major categories of total loans outstanding

($ in thousands)	March 31, 2015				December 31, 2014				March 31, 2014
	Amount		Percentage		Amount		Percentage		Amount		Percentage
All loans (non-covered and covered):
Commercial, financial, and agricultural	$	176,013		7%	$	160,878		7%	$	179,363		7%
Real estate – construction, land development & other land loans		285,319		12%		288,148		12%		296,141		12%
Real estate – mortgage – residential (1-4 family) first mortgages		776,313		33%		789,871		33%		829,671		34%
Real estate – mortgage – home equity loans / lines of credit		223,679		9%		223,500		9%		229,167		9%
Real estate – mortgage – commercial and other		885,282		37%		882,127		37%		857,327		35%
Installment loans to individuals		48,010		2%		50,704		2%		54,849		3%
Subtotal		2,394,616		100%		2,395,228		100%		2,446,518		100%
Unamortized net deferred loan costs		783				946				759
Total loans	$	2,395,399			$	2,396,174			$	2,447,277

Summary of the major categories of non-covered loans outstanding

($ in thousands)	March 31, 2015				December 31, 2014				March 31, 2014
	Amount		Percentage		Amount		Percentage		Amount		Percentage
Non-covered loans:
Commercial, financial, and agricultural	$	174,516		8%	$	159,195		7%	$	176,597		8%
Real estate – construction, land development & other land loans		279,780		12%		282,604		13%		269,216		12%
Real estate – mortgage – residential (1-4 family) first mortgages		690,910		31%		700,101		31%		729,080		32%
Real estate – mortgage – home equity loans / lines of credit		211,337		9%		210,697		9%		215,128		10%
Real estate – mortgage – commercial and other		870,234		38%		864,333		38%		811,612		36%
Installment loans to individuals		48,010		2%		50,704		2%		54,334		2%
Subtotal		2,274,787		100%		2,267,634		100%		2,255,967		100%
Unamortized net deferred loan costs		783				946				759
Total non-covered loans	$	2,275,570			$	2,268,580			$	2,256,726

Schedule of the carrying amount of the covered loans

($ in thousands)	Impaired Purchased Loans – Carrying Value		Impaired Purchased Loans – Unpaid Principal Balance		Nonimpaired Purchased Loans – Carrying Value		Nonimpaired Purchased Loans - Unpaid Principal Balance		Total Covered Loans – Carrying Value		Total Covered Loans – Unpaid Principal Balance
Covered loans:
Commercial, financial, and agricultural	$	63		121		1,434		1,426		1,497		1,547
Real estate – construction, land development & other land loans		304		529		5,235		6,108		5,539		6,637
Real estate – mortgage – residential (1-4 family) first mortgages		337		1,288		85,066		99,858		85,403		101,146
Real estate – mortgage – home equity loans / lines of credit		12		19		12,330		14,356		12,342		14,375
Real estate – mortgage – commercial and other		1,146		3,188		13,902		14,997		15,048		18,185
Total	$	1,862		5,145		117,967		136,745		119,829		141,890

($ in thousands)	Impaired Purchased Loans – Carrying Value		Impaired Purchased Loans – Unpaid Principal Balance		Nonimpaired Purchased Loans – Carrying Value		Nonimpaired Purchased Loans - Unpaid Principal Balance		Total Covered Loans – Carrying Value		Total Covered Loans – Unpaid Principal Balance
Covered loans:
Commercial, financial, and agricultural	$	66		123		1,617		1,661		1,683		1,784
Real estate – construction, land development & other land loans		309		534		5,235		6,471		5,544		7,005
Real estate – mortgage – residential (1-4 family) first mortgages		362		1,298		89,408		104,678		89,770		105,976
Real estate – mortgage – home equity loans / lines of credit		12		19		12,791		15,099		12,803		15,118
Real estate – mortgage – commercial and other		1,201		3,209		16,593		17,789		17,794		20,998
Total	$	1,950		5,183		125,644		145,698		127,594		150,881

Schedule of activity in covered purchased nonimpaired loans

($ in thousands)
Carrying amount of nonimpaired covered loans at December 31, 2013	$	207,167
Principal repayments		(50,183	)
Transfers to foreclosed real estate		(5,061	)
Transfers to non-covered loans due to expiration of loss-share agreement		(38,987	)
Net loan (charge-offs) / recoveries		(3,301	)
Accretion of loan discount		16,009
Carrying amount of nonimpaired covered loans at December 31, 2014		125,644
Principal repayments		(8,942	)
Transfers to foreclosed real estate		(505	)
Net loan (charge-offs) / recoveries		213
Accretion of loan discount		1,557
Carrying amount of nonimpaired covered loans at March 31, 2015	$	117,967

Schedule of activity in purchased impaired loans

($ in thousands) Purchased Impaired Loans	Contractual Principal Receivable		Fair Market Value Adjustment – Write Down (Nonaccretable Difference)		Carrying Amount
Balance at December 31, 2013	$	6,263		3,121		3,142
Change due to payments received		(599)		227		(826)
Change due to loan charge-off		(2)		29		(31)
Other		197		(115)		312
Balance at December 31, 2014		5,859		3,262		2,597
Change due to payments received		(42)		62		(104)
Other		(3)		(3)		
Balance at March 31, 2015	$	5,814		3,321		2,493

Summary of nonperforming assets

ASSET QUALITY DATA ($ in thousands)	March 31, 2015		December 31, 2014		March 31, 2014
Non-covered nonperforming assets
Nonaccrual loans	$	47,416	$	50,066	$	44,129
Restructured loans - accruing		33,997		35,493		26,335
Accruing loans > 90 days past due		—		—		—
Total non-covered nonperforming loans		81,413		85,559		70,464
Foreclosed real estate		8,978		9,771		11,740
Total non-covered nonperforming assets	$	90,391	$	95,330	$	82,204
Covered nonperforming assets
Nonaccrual loans (1)	$	8,596	$	10,508	$	31,986
Restructured loans - accruing		3,874		5,823		7,429
Accruing loans > 90 days past due		—		—		—
Total covered nonperforming loans		12,470		16,331		39,415
Foreclosed real estate		2,055		2,350		19,504
Total covered nonperforming assets	$	14,525	$	18,681	$	58,919
Total nonperforming assets	$	104,916	$	114,011	$	141,123

(1)  At March 31, 2015, December 31, 2014, and March 31, 2014, the contractual balance of the nonaccrual loans covered by FDIC loss share agreements was $14.1 million, $16.0 million, and $49.3 million, respectively.

Schedule of nonaccrual loans

($ in thousands)	Non-covered		Covered		Total
Commercial, financial, and agricultural:
Commercial – unsecured	$	217		—		217
Commercial – secured		2,998		—		2,998
Secured by inventory and accounts receivable		536		147		683
Real estate – construction, land development & other land loans		6,796		1,024		7,820
Real estate – residential, farmland and multi-family		23,371		5,042		28,413
Real estate – home equity lines of credit		2,140		290		2,430
Real estate – commercial		11,027		2,093		13,120
Consumer		331		—		331
Total	$	47,416		8,596		56,012

($ in thousands)	Non-covered		Covered		Total
Commercial, financial, and agricultural:
Commercial – unsecured	$	187		1		188
Commercial – secured		2,927		—		2,927
Secured by inventory and accounts receivable		454		103		557
Real estate – construction, land development & other land loans		7,891		1,140		9,031
Real estate – residential, farmland and multi-family		24,459		7,785		32,244
Real estate – home equity lines of credit		2,573		278		2,851
Real estate – commercial		11,070		1,201		12,271
Consumer		505		—		505
Total	$	50,066		10,508		60,574

Schedule of analysis of the payment status of loans

($ in thousands)	30-59 Days Past Due		60-89 Days Past Due		Nonaccrual Loans		Current		Total Loans Receivable
Non-covered loans
Commercial, financial, and agricultural:
Commercial - unsecured	$	172		33		217		36,102		36,524
Commercial - secured		1,097		235		2,998		116,571		120,901
Secured by inventory and accounts receivable		—		21		536		23,939		24,496
Real estate – construction, land development & other land loans		2,219		1,207		6,796		246,629		256,851
Real estate – residential, farmland, and multi-family		13,902		2,268		23,371		799,110		838,651
Real estate – home equity lines of credit		497		301		2,140		196,238		199,176
Real estate - commercial		1,171		1,318		11,027		743,502		757,018
Consumer		345		198		331		40,296		41,170
Total non-covered	$	19,403		5,581		47,416		2,202,387		2,274,787
Unamortized net deferred loan costs										783
Total non-covered loans									$	2,275,570
Covered loans	$	4,359		—		8,596		106,874		119,829
Total loans	$	23,762		5,581		56,012		2,309,261		2,395,399

($ in thousands)	30-59 Days Past Due		60-89 Days Past Due		Nonaccrual Loans		Current		Total Loans Receivable
Non-covered loans
Commercial, financial, and agricultural:
Commercial - unsecured	$	191		35		187		36,871		37,284
Commercial - secured		1,003		373		2,927		102,671		106,974
Secured by inventory and accounts receivable		30		225		454		21,761		22,470
Real estate – construction, land development & other land loans		1,950		139		7,891		247,535		257,515
Real estate – residential, farmland, and multi-family		11,272		3,218		24,459		807,884		846,833
Real estate – home equity lines of credit		1,585		352		2,573		194,067		198,577
Real estate - commercial		3,738		996		11,070		738,981		754,785
Consumer		695		131		505		41,865		43,196
Total non-covered	$	20,464		5,469		50,066		2,191,635		2,267,634
Unamortized net deferred loan costs										946
Total non-covered loans									$	2,268,580
Covered loans	$	4,385		964		10,508		111,737		127,594
Total loans	$	24,849		6,433		60,574		2,303,372		2,396,174

Schedule of impaired loans individually evaluated

($ in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Non-covered loans with no related allowance recorded:
Commercial, financial, and agricultural:
Commercial - unsecured	$	32		35		−		33
Commercial - secured		18		19		−		12
Secured by inventory and accounts receivable		−		−		−		−
Real estate – construction, land development & other land loans		4,775		6,105		−		5,826
Real estate – residential, farmland, and multi-family		9,771		11,215		−		9,468
Real estate – home equity lines of credit		−		−		−		238
Real estate – commercial		17,827		21,824		−		17,618
Consumer		−		−		−		4
Total non-covered impaired loans with no allowance	$	32,423		39,198		−		33,199
Total covered impaired loans with no allowance	$	5,266		9,417		−		6,682
Total impaired loans with no allowance recorded	$	37,689		48,615		−		39,881
Non-covered  loans with an allowance recorded:
Commercial, financial, and agricultural:
Commercial - unsecured	$	166		170		48		153
Commercial - secured		584		595		83		595
Secured by inventory and accounts receivable		−		−		−		−
Real estate – construction, land development & other land loans		1,945		4,255		415		1,530
Real estate – residential, farmland, and multi-family		13,756		14,204		1,690		14,301
Real estate – home equity lines of credit		−		−		−		−
Real estate – commercial		3,308		3,389		505		3,405
Consumer		−		−		−		−
Total non-covered impaired loans with allowance	$	19,759		22,613		2,741		19,984
Total covered impaired loans with allowance	$	4,464		5,171		1,082		4,842
Total impaired loans with an allowance recorded	$	24,223		27,784		3,823		24,826

($ in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Non-covered loans with no related allowance recorded:
Commercial, financial, and agricultural:
Commercial - unsecured	$	33		35		−		20
Commercial - secured		5		6		−		95
Secured by inventory and accounts receivable		−		−		−		−
Real estate – construction, land development & other land loans		6,877		7,944		−		6,430
Real estate – residential, farmland, and multi-family		9,165		10,225		−		7,776
Real estate – home equity lines of credit		476		498		−		388
Real estate – commercial		17,409		20,786		−		11,911
Consumer		7		10		−		7
Total non-covered impaired loans with no allowance	$	33,972		39,504		−		26,627
Total covered impaired loans with no allowance	$	8,097		12,081		−		16,986
Total impaired loans with no allowance recorded	$	42,069		51,585		−		43,613
Non-covered  loans with an allowance recorded:
Commercial, financial, and agricultural:
Commercial - unsecured	$	140		143		47		142
Commercial - secured		606		612		164		550
Secured by inventory and accounts receivable		−		−		−		15
Real estate – construction, land development & other land loans		1,114		3,243		415		1,487
Real estate – residential, farmland, and multi-family		14,845		15,257		1,686		14,418
Real estate – home equity lines of credit		−		−		−		4
Real estate – commercial		3,501		3,530		165		6,420
Consumer		−		−		−		8
Total non-covered impaired loans with allowance	$	20,206		22,785		2,477		23,044
Total covered impaired loans with allowance	$	5,220		5,719		1,229		8,513
Total impaired loans with an allowance recorded	$	25,426		28,504		3,706		31,557

Schedule of recorded investment in loans by credit quality indicators

($ in thousands)	Credit Quality Indicator (Grouped by Internally Assigned Grade)
	Pass (Grades 1, 2, & 3)		Pass – Acceptable/ Average (Grade 4)		Watch or Standard Loans (Grade 9)		Special Mention Loans (Grade 5)		Classified Loans (Grades 6, 7, & 8)		Nonaccrual Loans		Total
Non-covered loans:
Commercial, financial, and agricultural:
Commercial - unsecured	$	18,177		14,735		5		1,258		2,132		217		36,524
Commercial - secured		50,695		59,418		61		3,996		3,733		2,998		120,901
Secured by inventory and accounts receivable		10,641		12,331		−		329		659		536		24,496
Real estate – construction, land development & other land loans		91,840		132,494		846		14,570		10,305		6,796		256,851
Real estate – residential, farmland, and multi-family		222,114		514,229		4,845		40,088		34,004		23,371		838,651
Real estate – home equity lines of credit		122,598		63,401		1,549		5,010		4,478		2,140		199,176
Real estate - commercial		242,960		449,463		8,427		29,843		15,298		11,027		757,018
Consumer		25,299		14,189		53		685		613		331		41,170
Total	$	784,324		1,260,260		15,786		95,779		71,222		47,416		2,274,787
Unamortized net deferred loan costs														783
Total non-covered  loans													$	2,275,570
Total covered loans	$	13,363		67,274		683		9,254		20,659		8,596		119,829
Total loans	$	797,687		1,327,534		16,469		105,033		91,881		56,012		2,395,399

($ in thousands)	Credit Quality Indicator (Grouped by Internally Assigned Grade)
	Pass (Grades 1, 2, & 3)		Pass – Acceptable / Average (Grade 4)		Watch or Standard Loans (Grade 9)		Special Mention Loans (Grade 5)		Classified Loans (Grades 6, 7, & 8)		Nonaccrual Loans		Total
Non-covered loans:
Commercial, financial, and agricultural:
Commercial - unsecured	$	17,856		15,649		5		1,356		2,231		187		37,284
Commercial - secured		32,812		62,361		62		4,481		4,331		2,927		106,974
Secured by inventory and accounts receivable		10,815		9,928		−		767		506		454		22,470
Real estate – construction, land development & other land loans		87,806		135,072		771		13,066		12,909		7,891		257,515
Real estate – residential, farmland, and multi-family		221,581		520,790		4,536		40,993		34,474		24,459		846,833
Real estate – home equity lines of credit		122,528		62,642		1,135		5,166		4,533		2,573		198,577
Real estate - commercial		223,197		465,395		9,057		30,318		15,748		11,070		754,785
Consumer		25,520		15,614		54		855		648		505		43,196
Total	$	742,115		1,287,451		15,620		97,002		75,380		50,066		2,267,634
Unamortized net deferred loan costs														946
Total non-covered  loans													$	2,268,580
Total covered loans	$	14,349		70,989		632		10,503		20,613		10,508		127,594
Total loans	$	756,464		1,358,440		16,252		107,505		95,993		60,574		2,396,174

Schedule of information related to loans modified in a troubled debt restructuring

($ in thousands)	For the three months ended						For the three months ended
	March 31, 2015						March 31, 2014
	Number of Contracts		Pre-Modification Restructured Balances		Post-Modification Restructured Balances		Number of Contracts		Pre-Modification Restructured Balances		Post-Modification Restructured Balances
Non-covered TDRs – Accruing
Commercial, financial, and agricultural:
Commercial – unsecured		—	$	—	$	—		—	$	—	$	—
Commercial – secured		—		—		—		—		—		—
Secured by inventory and accounts receivable		—		—		—		—		—		—
Real estate – construction, land development & other land loans		—		—		—		—		—		—
Real estate – residential, farmland, and multi-family		1		113		113		2		337		337
Real estate – home equity lines of credit		—		—		—		—		—		—
Real estate – commercial		1		51		51		—		—		—
Consumer		—		—		—		—		—		—
Non-covered TDRs – Nonaccrual
Commercial, financial, and agricultural:
Commercial – unsecured		—		—		—		—		—		—
Commercial – secured		—		—		—		—		—		—
Secured by inventory and accounts receivable		—		—		—		—		—		—
Real estate – construction, land development & other land loans		—		—		—		—		—		—
Real estate – residential, farmland, and multi-family		4		305		305		2		106		106
Real estate – home equity lines of credit		—		—		—		—		—		—
Real estate – commercial		—		—		—		—		—		—
Consumer		—		—		—		—		—		—
Total non-covered TDRs arising during period		6		469		469		4		443		443
Total covered TDRs arising during period  – Accruing		2	$	139	$	139		—	$	—	$	—
Total covered TDRs arising during period – Nonaccrual		—		—		—		5		710		682
Total TDRs arising during period		8	$	608	$	608		9	$	1,153	$	1,125

Schedule od accruing restructured loans that defaulted in the period

($ in thousands)	For the three months ended				For the three months ended
	March 31, 2015				March 31, 2014
	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Non-covered accruing TDRs that subsequently defaulted
Real estate – construction, land development & other land loans		—	$	—		1	$	5
Real estate – residential, farmland, and multi-family		1		34		—		—
Real estate – commercial		—		—		1		71
Total non-covered TDRs that subsequently defaulted		1	$	34		2	$	76
Total accruing covered TDRs that subsequently defaulted		—	$	—		—	$	—
Total accruing TDRs that subsequently defaulted		1	$	34		2	$	76