Loans and Allowance for Loan Losses

3 Months Ended

Mar. 31, 2013

Loans and Allowance For Loan Losses [Abstract]

Loans and Allowance for Loan Losses

Note 5 – Loans and Allowance for Loan Losses

Major classifications of loans as of March 31, 2013, December 31, 2012 and March 31, 2012, are summarized as follows (in thousands).

	March 31,			December 31,			March 31,
	2013			2012			2012
Commercial (secured by real estate)	$	1,804,030		$	1,813,365		$	1,843,207
Commercial & industrial		453,764			458,246			439,496
Commercial construction		152,410			154,769			167,122
Total commercial		2,410,204			2,426,380			2,449,825
Residential mortgage		1,245,975			1,214,203			1,131,248
Residential construction		371,733			381,677			435,375
Consumer installment		165,648			152,748			111,118
Total loans		4,193,560			4,175,008			4,127,566
Less allowance for loan losses		(105,753	)		(107,137	)		(113,601	)
Loans, net	$	4,087,807		$	4,067,871		$	4,013,965

The Bank makes loans and extends credit to individuals and a variety of firms and corporations located primarily in counties in north Georgia, the Atlanta, Georgia metropolitan statistical area, the Gainesville, Georgia metropolitan statistical area, coastal Georgia, western North Carolina, east Tennessee and the Greenville, South Carolina metropolitan statistical area.  Although the Bank has a diversified loan portfolio, a substantial portion of its loan portfolio is collateralized by improved and unimproved real estate and is dependent upon the real estate market.

United considers all loans that are on nonaccrual with a balance of $500,000 or greater and all troubled debt restructurings (“TDRs”) to be impaired.  In addition, United reviews all accruing substandard loans greater than $2 million to determine if the loan is impaired.  A loan is considered impaired when, based on current events and circumstances, it is probable that all amounts due, according to the contractual terms of the loan, will not be collected.  All TDRs are considered impaired regardless of accrual status.  Impairment is measured based on the present value of expected future cash flows, discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent.  A specific reserve is established for impaired loans for the amount of calculated impairment.  Interest payments received on impaired nonaccrual loans are applied as a reduction of the outstanding principal balance.   For impaired loans not on nonaccrual status, interest is accrued according to the terms of the loan agreement.  Impairment amounts are recorded quarterly and specific reserves are recorded in the allowance for loan losses.

Each quarter, United’s management prepares an analysis of the allowance for loan losses to determine the appropriate balance that measures and quantifies the amount of loss inherent in the loan portfolio.  The allowance is comprised of specific reserves which are determined as described above, general reserves which are determined based on historical loss experience as adjusted for current trends and economic conditions and an unallocated portion.  United uses eight quarters of historical loss experience weighted toward the most recent quarters to determine the loss factors to be used.  Eight quarters has been determined to be an appropriate time period as it is recent enough to be relevant to current conditions and covers a length of time sufficient to normalize for nonrecurring and unusual activity that might otherwise influence a shorter time period.  The weighted average is calculated by multiplying each quarter’s annualized historical net charge-off rate by 1 through 8, with 8 representing the most recent quarter and 1 representing the oldest quarter.  United uses annualized charge-off rates under the broad assumption that losses inherent in the loan portfolio will generally be resolved within twelve months.  Problem loans that are not resolved within twelve months are generally larger loans that are more complex in nature requiring more time to either rehabilitate or work out of the bank.  These credits are subject to impairment testing and specific reserves.

The weighted loss factor results for each quarter are added together and divided by 36 (the sum of 1, 2, 3, 4, 5, 6, 7 and 8) to arrive at the weighted average historical loss factor for each category of loans.  United calculates loss factors for each major category of loans (commercial real estate, commercial & industrial, commercial construction, residential construction and consumer installment) except residential real estate loans which are further divided into home equity first lien, home equity junior lien and all other residential real estate loans and a loss factor is calculated for each category.

Management carefully reviews the resulting loss factors for each category of the loan portfolio and evaluates whether qualitative adjustments are necessary to take into consideration recent credit trends such as increases or decreases in past due, nonaccrual, criticized and classified loans, acceleration or delays in timing of recognition of losses that may render the use of annualized charge-off rates to be inappropriate, and other macro environmental factors such as changes in unemployment rates, lease vacancy rates and trends in property values and absorption rates.

To validate the results, management closely monitors the loan portfolio to determine the range of potential losses based upon probability of default and losses upon default for each major loan category. The potential range of losses resulting from this analysis is compared to the resulting loss factors for each major loan category to validate the loss factors and determine if qualitative adjustments are necessary. United’s management believes that its method of determining the balance of the allowance for loan losses provides a reasonable and reliable basis for measuring and reporting losses that are inherent in the loan portfolio as of the reporting date.

The following table presents the balance and activity in the allowance for loan losses by portfolio segment and the recorded investment in loans by portfolio segment based on the impairment method as of March 31, 2013, December 31, 2012 and March 31, 2012 (in thousands).

	Commercial
	(Secured by			Commercial			Commercial			Residential			Residential			Consumer
Three Months Ended March 31, 2013	Real Estate)			& Industrial			Construction			Mortgage			Construction			Installment			Unallocated			Total
Allowance for loan losses:
Beginning balance	$	27,847		$	5,537		$	8,389		$	26,642		$	26,662		$	2,747		$	9,313		$	107,137
Charge-offs		(5,454	)		(1,823	)		(45	)		(2,356	)		(2,982	)		(707	)		—			(13,367	)
Recoveries		211			322			49			209			9			183			—			983
Provision		7,804			1,590			(285	)		2,433			(363	)		(131	)		(48	)		11,000
Ending balance	$	30,408		$	5,626		$	8,108		$	26,928		$	23,326		$	2,092		$	9,265		$	105,753
Ending allowance attributable to loans:
Individually evaluated for impairment	$	5,089		$	1,026		$	2,093		$	1,804		$	1,945		$	14		$	—		$	11,971
Collectively evaluated for impairment		25,319			4,600			6,015			25,124			21,381			2,078			9,265			93,782
Total ending allowance balance	$	30,408		$	5,626		$	8,108		$	26,928		$	23,326		$	2,092		$	9,265		$	105,753
Loans:
Individually evaluated for impairment	$	86,978		$	50,347		$	38,970		$	22,156		$	31,936		$	407		$	—		$	230,794
Collectively evaluated for impairment		1,717,052			403,417			113,440			1,223,819			339,797			165,241			—			3,962,766
Total loans	$	1,804,030		$	453,764		$	152,410		$	1,245,975		$	371,733		$	165,648		$	—		$	4,193,560
Year Ended December 31, 2012
Allowance for loan losses:
Ending allowance attributable to loans:
Individually evaluated for impairment	$	6,106		$	490		$	2,239		$	2,165		$	625		$	19		$	—		$	11,644
Collectively evaluated for impairment		21,741			5,047			6,150			24,477			26,037			2,728			9,313			95,493
Total ending allowance balance	$	27,847		$	5,537		$	8,389		$	26,642		$	26,662		$	2,747		$	9,313		$	107,137
Loans:
Individually evaluated for impairment	$	104,409		$	51,501		$	40,168		$	22,247		$	34,055		$	430		$	—		$	252,810
Collectively evaluated for impairment		1,708,956			406,745			114,601			1,191,956			347,622			152,318			—			3,922,198
Total loans	$	1,813,365		$	458,246		$	154,769		$	1,214,203		$	381,677		$	152,748		$	—		$	4,175,008
Three Months Ended March 31, 2012
Beginning balance	$	31,644		$	5,681		$	6,097		$	29,076		$	30,379		$	2,124		$	9,467		$	114,468
Charge-offs		(3,928	)		(756	)		(364	)		(5,767	)		(5,629	)		(753	)		—			(17,197	)
Recoveries		231			87			30			392			315			275			—			1,330
Provision		2,667			460			3,820			3,655			4,408			252			(262	)		15,000
Ending balance	$	30,614		$	5,472		$	9,583		$	27,356		$	29,473		$	1,898		$	9,205		$	113,601
Ending allowance attributable to loans:
Individually evaluated for impairment	$	7,654		$	1,122		$	1,920		$	2,254		$	3,236		$	63		$	—		$	16,249
Collectively evaluated for impairment		22,960			4,350			7,663			25,102			26,237			1,835			9,205			97,352
Total ending allowance balance	$	30,614		$	5,472		$	9,583		$	27,356		$	29,473		$	1,898		$	9,205		$	113,601
Loans:
Individually evaluated for impairment	$	117,999		$	60,568		$	46,549		$	21,525		$	47,048		$	331		$	—		$	294,020
Collectively evaluated for impairment		1,725,208			378,928			120,573			1,109,723			388,327			110,787			—			3,833,546
Total loans	$	1,843,207		$	439,496		$	167,122		$	1,131,248		$	435,375		$	111,118		$	—		$	4,127,566

When a loan officer determines that a loan is uncollectible, he or she is responsible for recommending to the local bank president that the loan be charged off. Full or partial charge-offs may also be recommended by the Collections Department, the Special Assets Department and the Foreclosure / OREO department. Nonaccrual loans that are collateral dependent are generally charged down to 80% of the appraised value of the underlying collateral at the time they are placed on nonaccrual status.

A committee consisting of the Chief Risk Officer, Senior Risk Officer and the Senior Credit Officers meets monthly to review charge-offs that have occurred during the previous month. The 10 largest charge-offs are reported quarterly to the Board of Directors.

Generally, closed-end retail loans (installment and residential mortgage loans) past due 120 cumulative days are charged-off unless the loan is well secured and in process of collection (within the next 90 days). Open-end (revolving) retail loans which are past due 180 cumulative days from their contractual due date are generally charged-off.

At March 31, 2013, December 31, 2012 and March 31, 2012, loans with a carrying value of $1.94 billion, $1.90 billion and $1.58 billion, respectively, were pledged as collateral to secure FHLB advances and other contingent funding sources.

The average balances of impaired loans and income recognized on impaired loans while they were considered impaired is presented below for the three months ended March 31, 2013 and 2012 (in thousands).

	Three Months Ended March 31,
	2013						2012
			Interest						Interest
			Revenue		Cash Basis				Revenue		Cash Basis
			Recognized		Interest				Recognized		Interest
	Average		During		Revenue		Average		During		Revenue
	Balance		Impairment		Received		Balance		Impairment		Received
Commercial (secured by real estate)	$	91,631	$	946	$	1,000	$	117,551	$	1,251	$	1,341
Commercial & industrial		43,694		156		629		43,249		118		610
Commercial construction		39,208		151		232		40,759		267		457
Total commercial		174,533		1,253		1,861		201,559		1,636		2,408
Residential mortgage		20,414		241		223		24,262		225		261
Residential construction		40,592		326		428		54,467		401		518
Consumer installment		276		6		6		338		5		5
Total	$	235,815	$	1,826	$	2,518	$	280,626	$	2,267	$	3,192

The following table presents loans individually evaluated for impairment by class of loans as of March 31, 2013, December 31, 2012 and March 31, 2012 (in thousands).

	March 31, 2013						December 31, 2012						March 31, 2012
					Allowance						Allowance						Allowance
	Unpaid				for Loan		Unpaid				for Loan		Unpaid				for Loan
	Principal		Recorded		Losses		Principal		Recorded		Losses		Principal		Recorded		Losses
	Balance		Investment		Allocated		Balance		Investment		Allocated		Balance		Investment		Allocated
With no related allowance recorded:
Commercial (secured by real estate)	$	50,386	$	37,202	$	—	$	74,066	$	62,609	$	—	$	91,399	$	82,593	$	—
Commercial & industrial		73,196		46,895		—		74,572		49,572		—		81,896		56,896		—
Commercial construction		23,486		16,703		—		23,938		17,305		—		30,188		27,295		—
Total commercial		147,068		100,800		—		172,576		129,486		—		203,483		166,784		—
Residential mortgage		7,762		6,306		—		10,336		8,383		—		15,375		13,041		—
Residential construction		19,026		15,223		—		35,439		19,093		—		44,018		28,477		—
Consumer installment		—		—		—		—		—		—		—		—		—
Total with no related allowance recorded		173,856		122,329		—		218,351		156,962		—		262,876		208,302		—
With an allowance recorded:
Commercial (secured by real estate)		52,363		49,777		5,089		44,395		41,800		6,106		36,536		35,406		7,654
Commercial & industrial		3,562		3,451		1,026		2,170		1,929		490		3,672		3,672		1,122
Commercial construction		23,150		22,267		2,093		23,746		22,863		2,239		20,056		19,254		1,920
Total commercial		79,075		75,495		8,208		70,311		66,592		8,835		60,264		58,332		10,696
Residential mortgage		16,104		15,850		1,804		14,267		13,864		2,165		9,255		8,484		2,254
Residential construction		17,244		16,713		1,945		15,412		14,962		625		19,235		18,571		3,236
Consumer installment		420		407		14		441		430		19		340		331		63
Total with an allowance recorded		112,843		108,465		11,971		100,431		95,848		11,644		89,094		85,718		16,249
Total	$	286,699	$	230,794	$	11,971	$	318,782	$	252,810	$	11,644	$	351,970	$	294,020	$	16,249

There were no loans more than 90 days past due and still accruing interest at March 31, 2013, December 31, 2012 or March 31, 2012. Nonaccrual loans include both homogeneous loans that are collectively evaluated for impairment and individually evaluated impaired loans. United’s policy is to place loans on nonaccrual status when, in the opinion of management, the principal and interest on a loan is not likely to be repaid in accordance with the loan terms or when the loan becomes 90 days past due and is not well secured and in the process of collection. When a loan is classified on nonaccrual status, interest previously accrued but not collected is reversed against current interest revenue. Principal and interest payments received on a nonaccrual loan are applied to reduce outstanding principal.

The following table presents the recorded investment (unpaid principal less amounts charged-off) in nonaccrual loans by loan class as of March 31, 2013, December 31, 2012 and March 31, 2102 (in thousands).

	Nonaccrual Loans
	March 31,			December 31,			March 31,
	2013			2012			2012
Commercial (secured by real estate)	$	17,304		$	22,148		$	26,081
Commercial & industrial		29,545			31,817			36,314
Commercial construction		22,359			23,843			23,319
Total commercial		69,208			77,808			85,714
Residential mortgage		11,817			12,589			18,741
Residential construction		14,592			18,702			24,341
Consumer installment		389			795			908
Total	$	96,006		$	109,894		$	129,704
Balance as a percentage of unpaid principal		66.3	%		69.5	%		70.6	%

The following table presents the aging of the recorded investment in past due loans as of March 31, 2013, December 31, 2012 and March 31, 2012 by class of loans (in thousands).

	Loans Past Due								Loans Not
As of March 31, 2013	30 - 59 Days		60 - 89 Days		> 90 Days		Total		Past Due		Total
Commercial (secured by real estate)	$	7,402	$	2,304	$	5,750	$	15,456	$	1,788,574	$	1,804,030
Commercial & industrial		1,485		419		219		2,123		451,641		453,764
Commercial construction		856		—		5,530		6,386		146,024		152,410
Total commercial		9,743		2,723		11,499		23,965		2,386,239		2,410,204
Residential mortgage		11,899		2,667		4,159		18,725		1,227,250		1,245,975
Residential construction		2,310		2,371		2,373		7,054		364,679		371,733
Consumer installment		682		152		109		943		164,705		165,648
Total loans	$	24,634	$	7,913	$	18,140	$	50,687	$	4,142,873	$	4,193,560
As of December 31, 2012
Commercial (secured by real estate)	$	8,106	$	3,232	$	7,476	$	18,814	$	1,794,551	$	1,813,365
Commercial & industrial		1,565		429		867		2,861		455,385		458,246
Commercial construction		2,216		—		4,490		6,706		148,063		154,769
Total commercial		11,887		3,661		12,833		28,381		2,397,999		2,426,380
Residential mortgage		12,292		2,426		4,848		19,566		1,194,637		1,214,203
Residential construction		2,233		1,934		5,159		9,326		372,351		381,677
Consumer installment		1,320		245		289		1,854		150,894		152,748
Total loans	$	27,732	$	8,266	$	23,129	$	59,127	$	4,115,881	$	4,175,008
As of March 31, 2012
Commercial (secured by real estate)	$	6,777	$	3,219	$	14,461	$	24,457	$	1,818,750	$	1,843,207
Commercial & industrial		1,930		244		2,905		5,079		434,417		439,496
Commercial construction		256		55		8,620		8,931		158,191		167,122
Total commercial		8,963		3,518		25,986		38,467		2,411,358		2,449,825
Residential mortgage		14,540		5,223		9,103		28,866		1,102,382		1,131,248
Residential construction		7,462		1,584		11,201		20,247		415,128		435,375
Consumer installment		961		248		346		1,555		109,563		111,118
Total loans	$	31,926	$	10,573	$	46,636	$	89,135	$	4,038,431	$	4,127,566

As of March 31, 2013, December 31, 2012, and March 31, 2012, $8.12 million, $9.50 million and $12.2 million of specific reserves were allocated to customers whose loan terms have been modified in TDRs. United committed to lend additional amounts totaling up to $613,000, $689,000, and $891,000 as of March 31, 2013, December 31, 2012 and March 31, 2012, respectively, to customers with outstanding loans that are classified as TDRs.

The modification of the terms of the TDRs included one or a combination of the following: a reduction of the stated interest rate of the loan or an extension of the amortization period that would not otherwise be considered in the current market for new debt with similar risk characteristics; a permanent reduction of the principal amount; a restructuring of the borrower’s debt into an A/B note structure where the A note would fall within the borrower’s ability to pay and the remainder would be included in the B note, or a mandated bankruptcy restructuring.

The following table presents additional information on TDRs including the number of loan contracts restructured and the pre- and post-modification recorded investment as of March 31, 2013, December 31, 2012 and March 31, 2012 (dollars in thousands).

	March 31, 2013						December 31, 2012						March 31, 2012
			Pre-		Post-				Pre-		Post-				Pre-		Post-
			Modification		Modification				Modification		Modification				Modification		Modification
	Number		Outstanding		Outstanding		Number		Outstanding		Outstanding		Number		Outstanding		Outstanding
	of		Recorded		Recorded		of		Recorded		Recorded		of		Recorded		Recorded
	Contracts		Investment		Investment		Contracts		Investment		Investment		Contracts		Investment		Investment
Commercial (sec by RE)		97	$	80,618	$	74,675		96	$	80,261	$	75,340		92	$	83,230	$	79,844
Commercial & industrial		41		8,944		8,834		32		7,492		7,250		26		3,487		3,487
Commercial construction		25		36,491		32,614		25		37,537		33,809		16		35,184		34,066
Total commercial		163		126,053		116,123		153		125,290		116,399		134		121,901		117,397
Residential mortgage		120		19,901		19,023		117		20,323		19,296		99		15,718		14,832
Residential construction		71		25,651		23,345		67		25,822		23,786		63		27,128		25,948
Consumer installment		46		282		269		51		1,292		1,282		40		340		330
Total loans		400	$	171,887	$	158,760		388	$	172,727	$	160,763		336	$	165,087	$	158,507

Loans modified under the terms of a TDR during the three months ended March 31, 2013 and 2012 are presented in the table below. In addition, the following table presents loans modified under the terms of a TDR that became 90 days or more delinquent during the three months ended March 31, 2013 and 2012 that were initially restructured within one year prior to the three months ended March 31, 2013 and 2012 (dollars in thousands).

							Troubled Debt Restructurings
							Modified Within the Previous
							Twelve Months that Have
			Pre-		Post-		Subsequently Defaulted During
			Modification		Modification		the Three Months Ended
New Troubled Debt			Outstanding		Outstanding		March 31, 2013
Restructurings for the Three	Number of		Recorded		Recorded		Number of		Recorded
Months Ended March 31, 2013	Contracts		Investment		Investment		Contracts		Investment
Commercial (secured by real estate)		8	$	3,568	$	3,568	$	1	$	432
Commercial & industrial		9		815		709		1		35
Commercial construction		—		—		—		2		1,454
Total commercial		17		4,383		4,277		4		1,921
Residential mortgage		11		2,115		2,115		1		68
Residential construction		5		784		655		2		117
Consumer installment		4		21		21		3		20
Total loans		37	$	7,303	$	7,068		10	$	2,126

							Troubled Debt Restructurings
							Modified Within the Previous
							Twelve Months that Have
			Pre-		Post-		Subsequently Defaulted During
			Modification		Modification		the Three Months Ended
New Troubled Debt			Outstanding		Outstanding		March 31, 2012
Restructurings for the Three	Number of		Recorded		Recorded		Number of		Recorded
Months Ended March 31, 2012	Contracts		Investment		Investment		Contracts		Investment
Commercial (secured by real estate)		24	$	15,099	$	13,741	$	—		$	—
Commercial & industrial		10		2,724		2,724		1			43
Commercial construction		7		20,781		20,781		2			4,174
Total commercial		41		38,604		37,246		3			4,217
Residential mortgage		24		5,279		5,273		3			373
Residential construction		14		3,751		3,189		3			1,476
Consumer installment		7		60		55		—			—
Total loans		86	$	47,694	$	45,763		9		$	6,066

Collateral dependent TDRs that subsequently default or are otherwise placed on nonaccrual are charged down to the fair value of the collateral consistent with United’s policy for nonaccrual loans. Impairment on TDRs that are not collateral dependent continues to be measured on discounted cash flows regardless of whether the loan has subsequently defaulted.

Risk Ratings

United categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current industry and economic trends, among other factors. United analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a continuous basis. United uses the following definitions for its risk ratings:

Watch. Loans in this category are presently protected from apparent loss; however, weaknesses exist that could cause future impairment, including the deterioration of financial ratios, past due status and questionable management capabilities. These loans require more than the ordinary amount of supervision. Collateral values generally afford adequate coverage, but may not be immediately marketable.

Substandard. These loans are inadequately protected by the current net worth and paying capacity of the obligor or by the collateral pledged. Specific and well-defined weaknesses exist that may include poor liquidity and deterioration of financial ratios. The loan may be past due and related deposit accounts experiencing overdrafts. There is the distinct possibility that United will sustain some loss if deficiencies are not corrected. If possible, immediate corrective action is taken.

Doubtful. Specific weaknesses characterized as Substandard that are severe enough to make collection in full highly questionable and improbable. There is no reliable secondary source of full repayment.

Loss. Loans categorized as Loss have the same characteristics as Doubtful; however, probability of loss is certain. Loans classified as Loss are charged-off.

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Loans listed as not rated are generally deposit account overdrafts that have not been assigned a grade.

As of March 31, 2013, December 31, 2012 and March 31, 2012, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (in thousands).

					Substandard				Doubtful /
As of March 31, 2013	Pass		Watch		Performing		Nonaccrual		Loss		Not Rated		Total
Commercial (secured by real estate)	$	1,593,193	$	65,413	$	128,120	$	17,304	$	—	$	—	$	1,804,030
Commercial & industrial		396,363		6,775		20,320		29,545		—		761		453,764
Commercial construction		104,413		7,176		18,462		22,359		—		—		152,410
Total commercial		2,093,969		79,364		166,902		69,208		—		761		2,410,204
Residential mortgage		1,139,249		30,806		64,103		11,817		—		—		1,245,975
Residential construction		296,029		23,230		37,882		14,592		—		—		371,733
Consumer installment		161,577		888		2,794		389		—		—		165,648
Total loans	$	3,690,824	$	134,288	$	271,681	$	96,006	$	—	$	761	$	4,193,560
As of December 31, 2012
Commercial (secured by real estate)	$	1,592,677	$	80,997	$	117,543	$	22,148	$	—	$	—	$	1,813,365
Commercial & industrial		401,606		5,404		18,477		31,817		—		942		458,246
Commercial construction		104,296		7,345		19,285		23,843		—		—		154,769
Total commercial		2,098,579		93,746		155,305		77,808		—		942		2,426,380
Residential mortgage		1,102,746		33,689		65,179		12,589		—		—		1,214,203
Residential construction		292,264		32,907		37,804		18,702		—		—		381,677
Consumer installment		147,214		1,086		3,653		795		—		—		152,748
Total loans	$	3,640,803	$	161,428	$	261,941	$	109,894	$	—	$	942	$	4,175,008
As of March 31, 2012
Commercial (secured by real estate)	$	1,586,934	$	96,352	$	133,840	$	26,081	$	—	$	—	$	1,843,207
Commercial & industrial		381,098		4,126		17,217		36,314		—		741		439,496
Commercial construction		99,825		20,722		23,256		23,319		—		—		167,122
Total commercial		2,067,857		121,200		174,313		85,714		—		741		2,449,825
Residential mortgage		995,981		40,790		75,736		18,741		—		—		1,131,248
Residential construction		298,592		48,168		64,274		24,341		—		—		435,375
Consumer installment		106,124		1,476		2,610		908		—		—		111,118
Total loans	$	3,468,554	$	211,634	$	316,933	$	129,704	$	—	$	741	$	4,127,566