LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)
|
6 Months Ended |
Jun. 30, 2015 |
|---|
| LOANS AND ALLOWANCE FOR LOAN LOSSES [Abstract] |
|
| Loans Stated at Face Amount, Net of Unearned Income |
Loans are stated at their face amount, net of deferred fees and costs, and consist of the following at June 30, 2015 and December 31, 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
June 30,
|
|
December 31,
|
|
|
2015
|
|
2014
|
|
Commercial:
|
|
|
|
|
|
|
Commercial Construction
|
$
|
378,204
|
|
$
|
341,280
|
|
Commercial Real Estate - Owner Occupied
|
|
874,582
|
|
|
875,443
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
1,569,306
|
|
|
1,509,159
|
|
Raw Land and Lots
|
|
201,630
|
|
|
211,225
|
|
Single Family Investment Real Estate
|
|
435,068
|
|
|
412,494
|
|
Commercial and Industrial
|
|
450,682
|
|
|
393,776
|
|
Other Commercial
|
|
90,556
|
|
|
81,106
|
|
Consumer:
|
|
|
|
|
|
|
Mortgage
|
|
470,707
|
|
|
478,151
|
|
Consumer Construction
|
|
65,105
|
|
|
74,168
|
|
Indirect Auto
|
|
208,195
|
|
|
199,411
|
|
Indirect Marine
|
|
42,306
|
|
|
43,190
|
|
HELOCs
|
|
488,891
|
|
|
500,579
|
|
Credit Card
|
|
26,349
|
|
|
24,225
|
|
Other Consumer
|
|
208,804
|
|
|
201,789
|
|
Total
|
$
|
5,510,385
|
|
$
|
5,345,996
|
|
| Summary of Aging of the Loan Portfolio by Class |
The following table shows the aging of the Company’s loan portfolio, by class, at June 30, 2015 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-59 Days Past Due
|
|
60-89 Days Past Due
|
|
Greater Than 90 Days and still Accruing
|
|
PCI
|
|
Nonaccrual
|
|
Current
|
|
Total Loans
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
-
|
|
$
|
-
|
|
$
|
126
|
|
$
|
2,921
|
|
$
|
1,907
|
|
$
|
373,250
|
|
$
|
378,204
|
|
Commercial Real Estate - Owner Occupied
|
|
169
|
|
|
341
|
|
|
705
|
|
|
29,838
|
|
|
3,625
|
|
|
839,904
|
|
|
874,582
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
3,336
|
|
|
1,199
|
|
|
798
|
|
|
20,016
|
|
|
200
|
|
|
1,543,757
|
|
|
1,569,306
|
|
Raw Land and Lots
|
|
135
|
|
|
207
|
|
|
128
|
|
|
5,103
|
|
|
403
|
|
|
195,654
|
|
|
201,630
|
|
Single Family Investment Real Estate
|
|
487
|
|
|
232
|
|
|
515
|
|
|
15,504
|
|
|
782
|
|
|
417,548
|
|
|
435,068
|
|
Commercial and Industrial
|
|
1,727
|
|
|
285
|
|
|
509
|
|
|
3,025
|
|
|
1,074
|
|
|
444,062
|
|
|
450,682
|
|
Other Commercial
|
|
566
|
|
|
10
|
|
|
-
|
|
|
1,112
|
|
|
65
|
|
|
88,803
|
|
|
90,556
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
1,760
|
|
|
3,872
|
|
|
4,329
|
|
|
6,605
|
|
|
1,054
|
|
|
453,087
|
|
|
470,707
|
|
Consumer Construction
|
|
-
|
|
|
-
|
|
|
819
|
|
|
508
|
|
|
-
|
|
|
63,778
|
|
|
65,105
|
|
Indirect Auto
|
|
1,631
|
|
|
229
|
|
|
215
|
|
|
-
|
|
|
-
|
|
|
206,120
|
|
|
208,195
|
|
Indirect Marine
|
|
374
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
48
|
|
|
41,884
|
|
|
42,306
|
|
HELOCs
|
|
2,516
|
|
|
387
|
|
|
1,289
|
|
|
1,840
|
|
|
161
|
|
|
482,698
|
|
|
488,891
|
|
Credit Card
|
|
161
|
|
|
70
|
|
|
180
|
|
|
-
|
|
|
-
|
|
|
25,938
|
|
|
26,349
|
|
Other Consumer
|
|
2,285
|
|
|
612
|
|
|
1,290
|
|
|
1,369
|
|
|
202
|
|
|
203,046
|
|
|
208,804
|
|
Total
|
$
|
15,147
|
|
$
|
7,444
|
|
$
|
10,903
|
|
$
|
87,841
|
|
$
|
9,521
|
|
$
|
5,379,529
|
|
$
|
5,510,385
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the aging of the Company’s loan portfolio, by class, at December 31, 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-59 Days Past Due
|
|
60-89 Days Past Due
|
|
Greater Than 90 Days and still Accruing
|
|
PCI
|
|
Nonaccrual
|
|
Current
|
|
Total Loans
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
815
|
|
$
|
-
|
|
$
|
-
|
|
$
|
3,782
|
|
$
|
968
|
|
$
|
335,715
|
|
$
|
341,280
|
|
Commercial Real Estate - Owner Occupied
|
|
621
|
|
|
1,542
|
|
|
1,683
|
|
|
31,167
|
|
|
1,060
|
|
|
839,370
|
|
|
875,443
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
3,984
|
|
|
237
|
|
|
91
|
|
|
28,869
|
|
|
5,902
|
|
|
1,470,076
|
|
|
1,509,159
|
|
Raw Land and Lots
|
|
145
|
|
|
44
|
|
|
194
|
|
|
7,427
|
|
|
2,359
|
|
|
201,056
|
|
|
211,225
|
|
Single Family Investment Real Estate
|
|
2,825
|
|
|
338
|
|
|
734
|
|
|
16,879
|
|
|
2,070
|
|
|
389,648
|
|
|
412,494
|
|
Commercial and Industrial
|
|
1,250
|
|
|
529
|
|
|
549
|
|
|
3,855
|
|
|
3,286
|
|
|
384,307
|
|
|
393,776
|
|
Other Commercial
|
|
42
|
|
|
2
|
|
|
-
|
|
|
2,256
|
|
|
74
|
|
|
78,732
|
|
|
81,106
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
12,851
|
|
|
4,300
|
|
|
4,095
|
|
|
7,394
|
|
|
2,485
|
|
|
447,026
|
|
|
478,151
|
|
Consumer Construction
|
|
120
|
|
|
-
|
|
|
844
|
|
|
516
|
|
|
-
|
|
|
72,688
|
|
|
74,168
|
|
Indirect Auto
|
|
1,593
|
|
|
263
|
|
|
317
|
|
|
-
|
|
|
-
|
|
|
197,238
|
|
|
199,411
|
|
Indirect Marine
|
|
150
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
201
|
|
|
42,839
|
|
|
43,190
|
|
HELOCs
|
|
3,082
|
|
|
955
|
|
|
820
|
|
|
2,000
|
|
|
258
|
|
|
493,464
|
|
|
500,579
|
|
Credit Card
|
|
232
|
|
|
108
|
|
|
219
|
|
|
-
|
|
|
-
|
|
|
23,666
|
|
|
24,225
|
|
Other Consumer
|
|
1,587
|
|
|
412
|
|
|
501
|
|
|
1,643
|
|
|
592
|
|
|
197,054
|
|
|
201,789
|
|
Total
|
$
|
29,297
|
|
$
|
8,730
|
|
$
|
10,047
|
|
$
|
105,788
|
|
$
|
19,255
|
|
$
|
5,172,879
|
|
$
|
5,345,996
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of Aging of the Acquired with Deteriorated Credit Quality Loan Portfolio by Class |
The following table shows the PCI commercial and consumer loan portfolios, by class and their delinquency status, at June 30, 2015 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-89 Days Past Due
|
|
Greater than 90 Days
|
|
Current
|
|
Total
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
-
|
|
$
|
609
|
|
$
|
2,312
|
|
$
|
2,921
|
|
Commercial Real Estate - Owner Occupied
|
|
1,029
|
|
|
1,484
|
|
|
27,325
|
|
|
29,838
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
1,775
|
|
|
321
|
|
|
17,920
|
|
|
20,016
|
|
Raw Land and Lots
|
|
376
|
|
|
105
|
|
|
4,622
|
|
|
5,103
|
|
Single Family Investment Real Estate
|
|
425
|
|
|
686
|
|
|
14,393
|
|
|
15,504
|
|
Commercial and Industrial
|
|
226
|
|
|
68
|
|
|
2,731
|
|
|
3,025
|
|
Other Commercial
|
|
120
|
|
|
184
|
|
|
808
|
|
|
1,112
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
916
|
|
|
2,557
|
|
|
3,132
|
|
|
6,605
|
|
Consumer Construction
|
|
-
|
|
|
508
|
|
|
-
|
|
|
508
|
|
HELOCs
|
|
210
|
|
|
501
|
|
|
1,129
|
|
|
1,840
|
|
Other Consumer
|
|
48
|
|
|
152
|
|
|
1,169
|
|
|
1,369
|
|
Total
|
$
|
5,125
|
|
$
|
7,175
|
|
$
|
75,541
|
|
$
|
87,841
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the PCI commercial and consumer loan portfolios, by class and their delinquency status, at December 31, 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-89 Days Past Due
|
|
Greater than 90 Days
|
|
Current
|
|
Total
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
-
|
|
$
|
652
|
|
$
|
3,130
|
|
$
|
3,782
|
|
Commercial Real Estate - Owner Occupied
|
|
1,138
|
|
|
843
|
|
|
29,186
|
|
|
31,167
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
523
|
|
|
1,255
|
|
|
27,091
|
|
|
28,869
|
|
Raw Land and Lots
|
|
522
|
|
|
-
|
|
|
6,905
|
|
|
7,427
|
|
Single Family Investment Real Estate
|
|
1,327
|
|
|
1,311
|
|
|
14,241
|
|
|
16,879
|
|
Commercial and Industrial
|
|
144
|
|
|
538
|
|
|
3,173
|
|
|
3,855
|
|
Other Commercial
|
|
107
|
|
|
1,133
|
|
|
1,016
|
|
|
2,256
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
1,975
|
|
|
2,866
|
|
|
2,553
|
|
|
7,394
|
|
Consumer Construction
|
|
-
|
|
|
516
|
|
|
-
|
|
|
516
|
|
HELOCs
|
|
356
|
|
|
728
|
|
|
916
|
|
|
2,000
|
|
Other Consumer
|
|
89
|
|
|
171
|
|
|
1,383
|
|
|
1,643
|
|
Total
|
$
|
6,181
|
|
$
|
10,013
|
|
$
|
89,594
|
|
$
|
105,788
|
|
| Impaired Loans by Class |
The following table shows the Company’s impaired loans, excluding PCI loans related to the StellarOne acquisition, by class at June 30, 2015 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recorded Investment
|
|
Unpaid Principal Balance
|
|
Related Allowance
|
|
YTD Average Investment
|
|
Interest Income Recognized
|
|
Loans without a specific allowance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
6,506
|
|
$
|
6,783
|
|
$
|
-
|
|
$
|
5,897
|
|
$
|
135
|
|
Commercial Real Estate - Owner Occupied
|
|
12,917
|
|
|
13,182
|
|
|
-
|
|
|
12,664
|
|
|
258
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
12,566
|
|
|
12,882
|
|
|
-
|
|
|
12,880
|
|
|
317
|
|
Raw Land and Lots
|
|
39,679
|
|
|
39,887
|
|
|
-
|
|
|
40,698
|
|
|
1,179
|
|
Single Family Investment Real Estate
|
|
2,805
|
|
|
3,214
|
|
|
-
|
|
|
3,001
|
|
|
54
|
|
Commercial and Industrial
|
|
3,361
|
|
|
4,070
|
|
|
-
|
|
|
3,533
|
|
|
67
|
|
Other Commercial
|
|
923
|
|
|
928
|
|
|
-
|
|
|
954
|
|
|
28
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
1,568
|
|
|
1,582
|
|
|
-
|
|
|
1,580
|
|
|
29
|
|
Indirect Auto
|
|
-
|
|
|
4
|
|
|
-
|
|
|
1
|
|
|
-
|
|
HELOCs
|
|
779
|
|
|
911
|
|
|
-
|
|
|
856
|
|
|
10
|
|
Other Consumer
|
|
82
|
|
|
204
|
|
|
-
|
|
|
149
|
|
|
-
|
|
Total impaired loans without a specific allowance
|
$
|
81,186
|
|
$
|
83,647
|
|
$
|
-
|
|
$
|
82,213
|
|
$
|
2,077
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans with a specific allowance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
370
|
|
$
|
370
|
|
$
|
10
|
|
$
|
485
|
|
$
|
10
|
|
Commercial Real Estate - Owner Occupied
|
|
5,162
|
|
|
5,177
|
|
|
656
|
|
|
5,343
|
|
|
83
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
937
|
|
|
937
|
|
|
81
|
|
|
932
|
|
|
27
|
|
Raw Land and Lots
|
|
717
|
|
|
717
|
|
|
19
|
|
|
760
|
|
|
17
|
|
Single Family Investment Real Estate
|
|
2,742
|
|
|
2,766
|
|
|
182
|
|
|
2,859
|
|
|
68
|
|
Commercial and Industrial
|
|
2,228
|
|
|
2,279
|
|
|
474
|
|
|
2,308
|
|
|
50
|
|
Other Commercial
|
|
469
|
|
|
490
|
|
|
41
|
|
|
507
|
|
|
11
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
1,395
|
|
|
1,448
|
|
|
29
|
|
|
1,425
|
|
|
6
|
|
Consumer Construction
|
|
376
|
|
|
376
|
|
|
33
|
|
|
378
|
|
|
9
|
|
Indirect Marine
|
|
48
|
|
|
149
|
|
|
1
|
|
|
54
|
|
|
-
|
|
Other Consumer
|
|
226
|
|
|
345
|
|
|
84
|
|
|
276
|
|
|
1
|
|
Total impaired loans with a specific allowance
|
$
|
14,670
|
|
$
|
15,054
|
|
$
|
1,610
|
|
$
|
15,327
|
|
$
|
282
|
|
Total impaired loans
|
$
|
95,856
|
|
$
|
98,701
|
|
$
|
1,610
|
|
$
|
97,540
|
|
$
|
2,359
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the Company’s impaired loans, by class, at December 31, 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recorded Investment
|
|
Unpaid Principal Balance
|
|
Related Allowance
|
|
YTD Average Investment
|
|
Interest Income Recognized
|
|
Loans without a specific allowance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
5,281
|
|
$
|
5,367
|
|
$
|
-
|
|
$
|
5,755
|
|
$
|
165
|
|
Commercial Real Estate - Owner Occupied
|
|
15,722
|
|
|
16,430
|
|
|
-
|
|
|
16,774
|
|
|
737
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
22,917
|
|
|
22,917
|
|
|
-
|
|
|
23,209
|
|
|
1,116
|
|
Raw Land and Lots
|
|
44,790
|
|
|
47,662
|
|
|
-
|
|
|
47,988
|
|
|
2,124
|
|
Single Family Investment Real Estate
|
|
4,197
|
|
|
4,881
|
|
|
-
|
|
|
6,534
|
|
|
170
|
|
Commercial and Industrial
|
|
4,453
|
|
|
7,933
|
|
|
-
|
|
|
5,070
|
|
|
121
|
|
Other Commercial
|
|
1,536
|
|
|
1,538
|
|
|
-
|
|
|
1,624
|
|
|
90
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
1,571
|
|
|
1,582
|
|
|
-
|
|
|
1,583
|
|
|
58
|
|
Indirect Auto
|
|
-
|
|
|
6
|
|
|
-
|
|
|
4
|
|
|
-
|
|
Indirect Marine
|
|
201
|
|
|
505
|
|
|
-
|
|
|
281
|
|
|
-
|
|
HELOCs
|
|
559
|
|
|
699
|
|
|
-
|
|
|
573
|
|
|
8
|
|
Other Consumer
|
|
89
|
|
|
208
|
|
|
-
|
|
|
107
|
|
|
-
|
|
Total impaired loans without a specific allowance
|
$
|
101,316
|
|
$
|
109,728
|
|
$
|
-
|
|
$
|
109,502
|
|
$
|
4,589
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans with a specific allowance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
570
|
|
$
|
570
|
|
$
|
51
|
|
$
|
506
|
|
$
|
13
|
|
Commercial Real Estate - Owner Occupied
|
|
5,951
|
|
|
5,999
|
|
|
355
|
|
|
5,946
|
|
|
280
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
10,575
|
|
|
10,572
|
|
|
2,017
|
|
|
10,823
|
|
|
474
|
|
Raw Land and Lots
|
|
1,343
|
|
|
1,373
|
|
|
98
|
|
|
1,472
|
|
|
59
|
|
Single Family Investment Real Estate
|
|
4,125
|
|
|
4,144
|
|
|
562
|
|
|
4,293
|
|
|
159
|
|
Commercial and Industrial
|
|
2,938
|
|
|
3,009
|
|
|
582
|
|
|
3,125
|
|
|
138
|
|
Other Commercial
|
|
359
|
|
|
378
|
|
|
32
|
|
|
442
|
|
|
29
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
3,323
|
|
|
3,375
|
|
|
481
|
|
|
3,381
|
|
|
60
|
|
Consumer Construction
|
|
375
|
|
|
375
|
|
|
34
|
|
|
373
|
|
|
19
|
|
Indirect Marine
|
|
192
|
|
|
192
|
|
|
5
|
|
|
199
|
|
|
15
|
|
HELOCs
|
|
434
|
|
|
434
|
|
|
4
|
|
|
436
|
|
|
17
|
|
Other Consumer
|
|
679
|
|
|
706
|
|
|
310
|
|
|
686
|
|
|
19
|
|
Total impaired loans with a specific allowance
|
$
|
30,864
|
|
$
|
31,127
|
|
$
|
4,531
|
|
$
|
31,682
|
|
$
|
1,282
|
|
Total impaired loans
|
$
|
132,180
|
|
$
|
140,855
|
|
$
|
4,531
|
|
$
|
141,184
|
|
$
|
5,871
|
|
| Summary of Modified Loans that Continue to Accrue Interest Under the Terms of Restructuring Agreement |
The following table provides a summary, by class, of modified loans that continue to accrue interest under the terms of the restructuring agreement, which are considered to be performing, and modified loans that have been placed on nonaccrual status, which are considered to be nonperforming, as of June 30, 2015 and December 31, 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2015
|
|
December 31, 2014
|
|
|
No. of Loans
|
|
Recorded Investment
|
|
Outstanding Commitment
|
|
No. of Loans
|
|
Recorded Investment
|
|
Outstanding Commitment
|
|
Performing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
1
|
|
$
|
296
|
|
$
|
-
|
|
1
|
|
$
|
707
|
|
$
|
-
|
|
Commercial Real Estate - Owner Occupied
|
5
|
|
|
1,659
|
|
|
-
|
|
3
|
|
|
682
|
|
|
-
|
|
Commercial Real Estate - Non-Owner Occupied
|
3
|
|
|
2,448
|
|
|
-
|
|
3
|
|
|
3,362
|
|
|
-
|
|
Raw Land and Lots
|
5
|
|
|
13,995
|
|
|
-
|
|
9
|
|
|
14,777
|
|
|
-
|
|
Single Family Investment Real Estate
|
2
|
|
|
446
|
|
|
-
|
|
6
|
|
|
1,046
|
|
|
-
|
|
Commercial and Industrial
|
2
|
|
|
50
|
|
|
-
|
|
9
|
|
|
722
|
|
|
-
|
|
Other Commercial
|
2
|
|
|
213
|
|
|
-
|
|
1
|
|
|
191
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
6
|
|
|
740
|
|
|
-
|
|
7
|
|
|
1,244
|
|
|
-
|
|
Other Consumer
|
1
|
|
|
33
|
|
|
-
|
|
3
|
|
|
98
|
|
|
-
|
|
Total performing
|
27
|
|
$
|
19,880
|
|
$
|
-
|
|
42
|
|
$
|
22,829
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
1
|
|
$
|
260
|
|
$
|
-
|
|
1
|
|
$
|
253
|
|
$
|
-
|
|
Commercial Real Estate - Owner Occupied
|
1
|
|
|
142
|
|
|
-
|
|
2
|
|
|
153
|
|
|
-
|
|
Commercial Real Estate - Non-Owner Occupied
|
1
|
|
|
200
|
|
|
-
|
|
1
|
|
|
539
|
|
|
-
|
|
Raw Land and Lots
|
1
|
|
|
34
|
|
|
-
|
|
2
|
|
|
1,053
|
|
|
-
|
|
Single Family Investment Real Estate
|
2
|
|
|
237
|
|
|
-
|
|
1
|
|
|
433
|
|
|
-
|
|
Commercial and Industrial
|
4
|
|
|
513
|
|
|
-
|
|
5
|
|
|
616
|
|
|
-
|
|
Other Commercial
|
1
|
|
|
65
|
|
|
-
|
|
1
|
|
|
74
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
2
|
|
|
756
|
|
|
-
|
|
2
|
|
|
770
|
|
|
-
|
|
Other Consumer
|
1
|
|
|
37
|
|
|
-
|
|
1
|
|
|
57
|
|
|
-
|
|
Total nonperforming
|
14
|
|
$
|
2,244
|
|
$
|
-
|
|
16
|
|
$
|
3,948
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total performing and nonperforming
|
41
|
|
$
|
22,124
|
|
$
|
-
|
|
58
|
|
$
|
26,777
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of TDR by Class and Modification Type |
The following table shows, by class and modification type, TDRs that occurred during the three and six months ended June 30, 2015 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
|
|
June 30, 2015
|
|
June 30, 2015
|
|
|
No. of Loans
|
|
Recorded Investment at Period End
|
|
No. of Loans
|
|
Recorded Investment at Period End
|
|
Term modification, at a market rate
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
Commercial Real Estate - Owner Occupied
|
1
|
|
$
|
120
|
|
1
|
|
$
|
120
|
|
Commercial and Industrial
|
-
|
|
|
-
|
|
1
|
|
|
18
|
|
Total loan term extended at a market rate
|
1
|
|
$
|
120
|
|
2
|
|
$
|
138
|
|
|
|
|
|
|
|
|
|
|
|
|
Term modification, below market rate
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
Commercial Real Estate - Owner Occupied
|
1
|
|
$
|
873
|
|
1
|
|
$
|
873
|
|
Total loan term extended at a below market rate
|
1
|
|
$
|
873
|
|
1
|
|
$
|
873
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
2
|
|
$
|
993
|
|
3
|
|
$
|
1,011
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows, by class and modification type, TDRs that occurred during the three and six months ended June 30, 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
|
|
June 30, 2014
|
|
June 30, 2014
|
|
|
No. of Loans
|
|
Recorded Investment at Period End
|
|
No. of Loans
|
|
Recorded Investment at Period End
|
|
Term modification, at a market rate
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
Single Family Investment Real Estate
|
-
|
|
$
|
-
|
|
1
|
|
$
|
111
|
|
Commercial and Industrial
|
1
|
|
|
35
|
|
1
|
|
|
35
|
|
Other Commercial
|
-
|
|
|
-
|
|
2
|
|
|
287
|
|
Total loan term extended at a market rate
|
1
|
|
$
|
35
|
|
4
|
|
$
|
433
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
1
|
|
$
|
35
|
|
4
|
|
$
|
433
|
|
|
|
|
|
|
|
|
|
|
|
|
| Allowance for Loan Loss Activity, by Portfolio Segment, Balances for Allowance for Credit Losses, and Loans Based on Impairment Methodology |
The following table shows the allowance for loan loss activity, balances for allowance for loan losses, and loan balances based on impairment methodology by portfolio segment for the six months ended and as of June 30, 2015. The table below includes the provision for loan losses. In addition, a $200,000 provision was recognized during the current quarter for unfunded loan commitments for which the reserves are recorded as a component of “Other Liabilities” on the Company’s Consolidated Balance Sheets. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial
|
|
Consumer
|
|
Total
|
|
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
Balance, beginning of the year
|
|
$
|
22,352
|
|
$
|
10,032
|
|
$
|
32,384
|
|
Recoveries credited to allowance
|
|
|
897
|
|
|
799
|
|
|
1,696
|
|
Loans charged off
|
|
|
(5,248)
|
|
|
(1,787)
|
|
|
(7,035)
|
|
Provision charged to operations
|
|
|
5,532
|
|
|
(233)
|
|
|
5,299
|
|
Balance, end of period
|
|
$
|
23,533
|
|
$
|
8,811
|
|
$
|
32,344
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, ALL:
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
1,463
|
|
$
|
147
|
|
$
|
1,610
|
|
Loans collectively evaluated for impairment
|
|
|
22,070
|
|
|
8,664
|
|
|
30,734
|
|
Loans acquired with deteriorated credit quality
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Total
|
|
$
|
23,533
|
|
$
|
8,811
|
|
$
|
32,344
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, Loans:
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
90,917
|
|
$
|
4,298
|
|
$
|
95,215
|
|
Loans collectively evaluated for impairment
|
|
|
3,831,592
|
|
|
1,495,737
|
|
|
5,327,329
|
|
Loans acquired with deteriorated credit quality
|
|
|
77,519
|
|
|
10,322
|
|
|
87,841
|
|
Total
|
|
$
|
4,000,028
|
|
$
|
1,510,357
|
|
$
|
5,510,385
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the allowance for loan loss activity, balances for allowance for loan losses, and loan balances based on impairment methodology by portfolio segment for the six months ended and as of June 30, 2014. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial
|
|
Consumer
|
|
Total
|
|
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
Balance, beginning of the year
|
|
$
|
19,908
|
|
$
|
10,227
|
|
$
|
30,135
|
|
Recoveries credited to allowance
|
|
|
1,599
|
|
|
572
|
|
|
2,171
|
|
Loans charged off
|
|
|
(1,068)
|
|
|
(1,359)
|
|
|
(2,427)
|
|
Provision charged to operations
|
|
|
204
|
|
|
1,296
|
|
|
1,500
|
|
Balance, end of period
|
|
$
|
20,643
|
|
$
|
10,736
|
|
$
|
31,379
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, ALL:
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
2,117
|
|
$
|
399
|
|
$
|
2,516
|
|
Loans collectively evaluated for impairment
|
|
|
18,526
|
|
|
10,337
|
|
|
28,863
|
|
Loans acquired with deteriorated credit quality
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Total
|
|
$
|
20,643
|
|
$
|
10,736
|
|
$
|
31,379
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, Loans:
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
104,620
|
|
$
|
8,047
|
|
$
|
112,667
|
|
Loans collectively evaluated for impairment
|
|
|
3,482,781
|
|
|
1,506,514
|
|
|
4,989,295
|
|
Loans acquired with deteriorated credit quality
|
|
|
114,893
|
|
|
16,214
|
|
|
131,107
|
|
Total
|
|
$
|
3,702,294
|
|
$
|
1,530,775
|
|
$
|
5,233,069
|
|
| Loans Receivables Related Risk Rating Excluding Purchased Impaired Loans |
The following table shows the recorded investment in all loans, excluding PCI loans, in the commercial portfolios by class with their related risk rating current as of June 30, 2015 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-3
|
|
4
|
|
5
|
|
6
|
|
7
|
|
8
|
|
Total
|
|
Commercial Construction
|
$
|
34,756
|
|
$
|
310,970
|
|
$
|
17,583
|
|
$
|
9,343
|
|
$
|
2,631
|
|
$
|
-
|
|
$
|
375,283
|
|
Commercial Real Estate - Owner Occupied
|
|
183,155
|
|
|
629,284
|
|
|
14,460
|
|
|
6,471
|
|
|
9,792
|
|
|
1,582
|
|
|
844,744
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
407,562
|
|
|
1,081,215
|
|
|
22,487
|
|
|
24,523
|
|
|
13,503
|
|
|
-
|
|
|
1,549,290
|
|
Raw Land and Lots
|
|
11,696
|
|
|
132,386
|
|
|
9,814
|
|
|
16,359
|
|
|
26,272
|
|
|
-
|
|
|
196,527
|
|
Single Family Investment Real Estate
|
|
66,052
|
|
|
333,533
|
|
|
8,794
|
|
|
6,190
|
|
|
4,995
|
|
|
-
|
|
|
419,564
|
|
Commercial and Industrial
|
|
195,917
|
|
|
231,994
|
|
|
10,823
|
|
|
4,319
|
|
|
4,604
|
|
|
-
|
|
|
447,657
|
|
Other Commercial
|
|
45,749
|
|
|
38,475
|
|
|
2,917
|
|
|
911
|
|
|
1,392
|
|
|
-
|
|
|
89,444
|
|
Total
|
$
|
944,887
|
|
$
|
2,757,857
|
|
$
|
86,878
|
|
$
|
68,116
|
|
$
|
63,189
|
|
$
|
1,582
|
|
$
|
3,922,509
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the recorded investment in all loans, excluding PCI loans, in the commercial portfolios by class with their related risk rating current as of December 31, 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-3
|
|
4
|
|
5
|
|
6
|
|
7
|
|
8
|
|
Total
|
|
Commercial Construction
|
$
|
22,512
|
|
$
|
289,064
|
|
$
|
11,932
|
|
$
|
10,906
|
|
$
|
3,084
|
|
$
|
-
|
|
$
|
337,498
|
|
Commercial Real Estate - Owner Occupied
|
|
185,789
|
|
|
620,587
|
|
|
15,003
|
|
|
7,688
|
|
|
15,209
|
|
|
-
|
|
|
844,276
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
356,263
|
|
|
1,041,515
|
|
|
22,358
|
|
|
28,388
|
|
|
31,766
|
|
|
-
|
|
|
1,480,290
|
|
Raw Land and Lots
|
|
11,162
|
|
|
128,281
|
|
|
16,803
|
|
|
4,783
|
|
|
42,769
|
|
|
-
|
|
|
203,798
|
|
Single Family Investment Real Estate
|
|
59,638
|
|
|
311,900
|
|
|
9,750
|
|
|
6,680
|
|
|
7,647
|
|
|
-
|
|
|
395,615
|
|
Commercial and Industrial
|
|
138,973
|
|
|
230,084
|
|
|
9,392
|
|
|
4,383
|
|
|
7,089
|
|
|
-
|
|
|
389,921
|
|
Other Commercial
|
|
31,571
|
|
|
40,913
|
|
|
3,818
|
|
|
844
|
|
|
1,704
|
|
|
-
|
|
|
78,850
|
|
Total
|
$
|
805,908
|
|
$
|
2,662,344
|
|
$
|
89,056
|
|
$
|
63,672
|
|
$
|
109,268
|
|
$
|
-
|
|
$
|
3,730,248
|
|
| Purchased Credit Impaired Loan Receivables Related Risk Rating |
The following table shows the recorded investment in only PCI loans in the commercial portfolios by class with their related risk rating and credit quality indicator information current as of June 30, 2015 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
5
|
|
6
|
|
7
|
|
8
|
|
Total
|
|
Commercial Construction
|
$
|
-
|
|
$
|
-
|
|
$
|
2,311
|
|
$
|
149
|
|
$
|
461
|
|
$
|
2,921
|
|
Commercial Real Estate - Owner Occupied
|
|
5,544
|
|
|
581
|
|
|
8,856
|
|
|
14,857
|
|
|
-
|
|
|
29,838
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
5,070
|
|
|
3,801
|
|
|
7,648
|
|
|
3,497
|
|
|
-
|
|
|
20,016
|
|
Raw Land and Lots
|
|
1,511
|
|
|
533
|
|
|
1,938
|
|
|
1,121
|
|
|
-
|
|
|
5,103
|
|
Single Family Investment Real Estate
|
|
4,674
|
|
|
1,710
|
|
|
4,100
|
|
|
5,020
|
|
|
-
|
|
|
15,504
|
|
Commercial and Industrial
|
|
422
|
|
|
12
|
|
|
917
|
|
|
1,650
|
|
|
24
|
|
|
3,025
|
|
Other Commercial
|
|
91
|
|
|
-
|
|
|
476
|
|
|
545
|
|
|
-
|
|
|
1,112
|
|
Total
|
$
|
17,312
|
|
$
|
6,637
|
|
$
|
26,246
|
|
$
|
26,839
|
|
$
|
485
|
|
$
|
77,519
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the recorded investment in only PCI loans in the commercial portfolios by class with their related risk rating and credit quality indicator information current as of December 31, 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
5
|
|
6
|
|
7
|
|
8
|
|
Total
|
|
Commercial Construction
|
$
|
-
|
|
$
|
-
|
|
$
|
3,130
|
|
$
|
194
|
|
$
|
458
|
|
$
|
3,782
|
|
Commercial Real Estate - Owner Occupied
|
|
1,525
|
|
|
3,546
|
|
|
10,880
|
|
|
15,216
|
|
|
-
|
|
|
31,167
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
2,837
|
|
|
934
|
|
|
18,736
|
|
|
6,362
|
|
|
-
|
|
|
28,869
|
|
Raw Land and Lots
|
|
1,564
|
|
|
189
|
|
|
3,148
|
|
|
2,526
|
|
|
-
|
|
|
7,427
|
|
Single Family Investment Real Estate
|
|
2,807
|
|
|
1,253
|
|
|
6,462
|
|
|
6,357
|
|
|
-
|
|
|
16,879
|
|
Commercial and Industrial
|
|
437
|
|
|
-
|
|
|
913
|
|
|
2,477
|
|
|
28
|
|
|
3,855
|
|
Other Commercial
|
|
-
|
|
|
-
|
|
|
510
|
|
|
1,746
|
|
|
-
|
|
|
2,256
|
|
Total
|
$
|
9,170
|
|
$
|
5,922
|
|
$
|
43,779
|
|
$
|
34,878
|
|
$
|
486
|
|
$
|
94,235
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Acquired Loan Portfolio and Accretable Yield |
The following shows changes in the accretable yield for loans accounted for under ASC 310-30, Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality, for the periods presented (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
For the Six Months ended
June 30,
|
|
|
2015
|
|
2014
|
|
Balance at beginning of period
|
$
|
28,956
|
|
|
$
|
2,980
|
|
|
Additions
|
|
-
|
|
|
|
34,653
|
|
|
Accretion
|
|
(3,106)
|
|
|
|
(3,677)
|
|
|
Reclass of nonaccretable difference due to improvement in expected cash flows
|
|
2,976
|
|
|
|
-
|
|
|
Other, net (1)
|
|
(4,784)
|
|
|
|
(1,365)
|
|
|
Balance at end of period
|
$
|
24,042
|
|
|
$
|
32,591
|
|
|
|
|
|
|
|
|
|
|
|
(1) This line item represents changes in the cash flows expected to be collected due to the impact of non-credit changes such as prepayment assumptions, changes in interest rates on variable rate PCI loans, and discounted payoffs that occurred in the quarter.
|
|
|
|