Atlantic Union Bankshares Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Loans And Allowance For Loan Losses

Loans And Allowance For Loan Losses

3 Months Ended

Mar. 31, 2012

Loans And Allowance For Loan Losses [Abstract]

4.	LOANS AND ALLOWANCE FOR LOAN LOSSES

Loans are stated at their face amount, net of unearned income, and consist of the following at March 31, 2012 and December 31, 2011 (dollars in thousands):


	March 31,		December 31,
	2012		2011
Commercial:
Commercial Construction	$	176,664	$	185,359
Commercial Real Estate - Owner Occupied		468,392		452,407
Commercial Real Estate - Non-Owner Occupied		681,605		655,083
Raw Land and Lots		204,966		214,284
Single Family Investment Real Estate		201,103		192,437
Commercial and Industrial		209,998		212,268
Other Commercial		43,491		44,403
Consumer:
Mortgage		224,178		219,646
Consumer Construction		23,194		20,757
Indirect Auto		159,016		162,708
Indirect Marine		37,140		39,819
HELOCs		276,031		277,101
Credit Card		19,319		19,006
Other Consumer		116,661		123,305

Total	$	2,841,758	$	2,818,583

The following table shows the aging of the Company's loan portfolio, by class, at March 31, 2012 (dollars in thousands):


	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days and still Accruing		Purchased Impaired (net of credit mark)		Nonaccrual		Current		Total Loans
Commercial:
Commercial Construction	$	—	$	—	$	—	$	—	$	9,835	$	166,829	$	176,664
Commercial Real Estate - Owner Occupied		3,873		2,225		1,560		1,178		5,215		454,341		468,392
Commercial Real Estate - Non-Owner Occupied		3,442		47		374		—		1,084		676,658		681,605
Raw Land and Lots		133		191		94		5,178		13,064		186,306		204,966
Single Family Investment Real Estate		361		1,157		177		354		4,507		194,547		201,103
Commercial and Industrial		903		50		1,730		361		5,318		201,636		209,998
Other Commercial		117		23		500		—		233		42,618		43,491
Consumer:
Mortgage		5,434		3,804		3,783		—		1,096		210,061		224,178
Consumer Construction		—		—		—		—		205		22,989		23,194
Indirect Auto		1,690		245		283		31		5		156,762		159,016
Indirect Marine		71		115		598		—		261		36,095		37,140
HELOCs		1,730		404		1,271		873		855		270,898		276,031
Credit Card		204		136		297		—		—		18,682		19,319
Other Consumer		2,320		97		1,600		165		713		111,766		116,661

Total	$	20,278	$	8,494	$	12,267	$	8,140	$	42,391	$	2,750,188	$	2,841,758

The following table shows the aging of the Company's loan portfolio, by class, at December 31, 2011 (dollars in thousands):


	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days and still Accruing		Purchased Impaired (net of credit mark)		Nonaccrual		Current		Total Loans
Commercial:
Commercial Construction	$	—	$	—	$	490	$	—	$	10,276	$	174,593	$	185,359
Commercial Real Estate - Owner Occupied		520		—		2,482		1,292		5,962		442,151		452,407
Commercial Real Estate - Non-Owner Occupied		190		64		2,887		1,133		2,031		648,778		655,083
Raw Land and Lots		94		1,124		—		5,623		13,322		194,121		214,284
Single Family Investment Real Estate		779		70		3,637		388		5,048		182,515		192,437
Commercial and Industrial		601		185		3,369		392		5,297		202,424		212,268
Other Commercial		—		25		—		—		238		44,140		44,403
Consumer:
Mortgage		6,748		412		3,804		—		240		208,442		219,646
Consumer Construction		—		—		—		—		207		20,550		20,757
Indirect Auto		2,653		416		443		40		7		159,149		162,708
Indirect Marine		189		795		—		—		544		38,291		39,819
HELOCs		1,678		547		820		865		885		272,306		277,101
Credit Card		245		184		323		—		—		18,254		19,006
Other Consumer		1,421		443		1,657		164		777		118,843		123,305

Total	$	15,118	$	4,265	$	19,912	$	9,897	$	44,834	$	2,724,557	$	2,818,583

Nonaccrual loans totaled $42.4 million and $62.6 million at March 31, 2012 and 2011, respectively. There were no nonaccrual loans excluded from impaired loan disclosure in 2012 or 2011. Loans past due 90 days or more and accruing interest totaled $12.3 million and $10.8 million at March 31, 2012 and 2011, respectively.

The following table shows purchased impaired commercial and consumer loan portfolios, by class and their delinquency status through March 31, 2012 (dollars in thousands):


	30-89 Days Past Due		Greater than 90 Days		Current		Total
Commercial:
Commercial Real Estate - Owner Occupied	$	—	$	228	$	950	$	1,178
Raw Land and Lots		—		—		5,178		5,178
Single Family Investment Real Estate		—		—		354		354
Commercial and Industrial		—		278		83		361
Consumer:
Indirect Auto		8		3		20		31
HELOCs		—		55		818		873
Other Consumer		—		78		87		165

Total	$	8	$	642	$	7,490	$	8,140

The current column represents loans that are less than 30 days past due.

The following table shows purchased impaired commercial and consumer loan portfolios, by class and their delinquency status through December 31, 2011 (dollars in thousands):


	30-89 Days Past Due		Greater than 90 Days		Current		Total
Commercial:
Commercial Real Estate - Owner Occupied	$	206	$	50	$	1,036	$	1,292
Commercial Real Estate - Non-Owner Occupied		—		1,133		—		1,133
Raw Land and Lots		—		—		5,623		5,623
Single Family Investment Real Estate		—		—		388		388
Commercial and Industrial		—		302		90		392
Consumer:
Indirect Auto		6		11		23		40
HELOCs		19		32		814		865
Other Consumer		—		77		87		164

Total	$	231	$	1,605	$	8,061	$	9,897

The current column represents loans that are less than 30 days past due.

The Company measures the amount of impairment by evaluating loans either in their collective homogeneous pools or individually. At March 31, 2012, the Company had $242.7 million in loans considered to be impaired of which $11.9 million were collectively evaluated for impairment and $230.8 million were individually evaluated for impairment. The following table shows the Company's impaired loans individually evaluated for impairment, by class, at March 31, 2012 (dollars in thousands):


			Unpaid				YTD		Interest
	Recorded		Principal		Related		Average		Income
	Investment		Balance		Allowance		Investment		Recognized
Loans without a specific allowance
Commercial:
Commercial Construction	$	39,176	$	39,605	$	—	$	39,458	$	448
Commercial Real Estate - Owner Occupied		22,416		22,955		—		23,143		289
Commercial Real Estate - Non-Owner Occupied		37,390		37,589		—		39,324		480
Raw Land and Lots		47,290		47,398		—		47,713		402
Single Family Investment Real Estate		11,375		11,706		—		11,756		136
Commercial and Industrial		7,395		7,892		—		8,288		96
Other Commercial		1,250		1,250		—		1,254		18
Consumer:
Mortgage		3,005		3,005		—		3,007		28
Indirect Auto		10		10		—		11		—
HELOCs		1,426		1,526		—		1,527		3
Other Consumer		792		817		—		827		8

Total impaired loans without a specific allowance	$	171,525	$	173,753	$	—	$	176,308	$	1,908


Loans with a specific allowance
Commercial:
Commercial Construction	$	8,971	$	9,015	$	851	$	9,035	$	60
Commercial Real Estate - Owner Occupied		6,934		7,063		1,547		7,079		44
Commercial Real Estate - Non-Owner Occupied		6,943		6,969		941		6,981		68
Raw Land and Lots		16,677		16,920		1,830		16,995		43
Single Family Investment Real Estate		4,795		4,859		1,484		4,864		51
Commercial and Industrial		12,407		12,572		3,578		12,588		100
Consumer:
Mortgage		961		961		162		1,028		17
Consumer Construction		205		226		83		226		—
Indirect Marine		261		271		99		272		—
HELOCs		755		811		552		1,020		—
Other Consumer		355		355		161		355		—

Total impaired loans with a specific allowance	$	59,264	$	60,022	$	11,288	$	60,443	$	383

Total loans individually evaluated for impairment	$	230,789	$	233,775	$	11,288	$	236,751	$	2,291

At December 31, 2011, the Company had $255.1 million in loans considered to be impaired of which $12.3 million were collectively evaluated for impairment and $242.8 million were individually evaluated for impairment. The following table shows the Company's impaired loans individually evaluated for impairment, by class, at December 31, 2011 (dollars in thousands):


			Unpaid				YTD		Interest
	Recorded		Principal		Related		Average		Income
	Investment		Balance		Allowance		Investment		Recognized
Loans without a specific allowance
Commercial:
Commercial Construction	$	40,475	$	40,524	$	—	$	37,835	$	1,690
Commercial Real Estate - Owner Occupied		20,487		21,010		—		23,364		1,183
Commercial Real Estate - Non-Owner Occupied		37,799		37,855		—		38,084		2,002
Raw Land and Lots		46,791		46,890		—		47,808		1,306
Single Family Investment Real Estate		11,285		11,349		—		11,684		637
Commercial and Industrial		9,467		9,959		—		10,216		423
Other Commercial		1,257		1,257		—		1,269		75
Consumer:
Mortgage		1,202		1,202		—		1,225		70
HELOCs		349		349		—		350		11
Other Consumer		—		—		—		1		—

Total impaired loans without a specific allowance	$	169,112	$	170,395	$	—	$	171,836	$	7,397


Loans with a specific allowance
Commercial:
Commercial Construction	$	12,927	$	13,297	$	583	$	13,811	$	343
Commercial Real Estate - Owner Occupied		8,679		8,788		1,961		8,681		267
Commercial Real Estate - Non-Owner Occupied		8,858		8,879		1,069		9,010		322
Raw Land and Lots		22,188		22,429		991		24,553		973
Single Family Investment Real Estate		9,020		9,312		1,140		9,571		321
Commercial and Industrial		8,980		9,133		3,320		10,448		369
Other Commercial		150		150		3		153		10
Consumer:
Mortgage		535		535		11		536		32
Consumer Construction		207		226		86		228		—
Indirect Auto		71		71		—		93		5
Indirect Marine		544		547		263		548		9
HELOCs		785		825		587		1,034		—
Other Consumer		777		804		284		815		5

Total impaired loans with a specific allowance	$	73,721	$	74,996	$	10,298	$	79,481	$	2,656

Total loans individually evaluated for impairment	$	242,833	$	245,391	$	10,298	$	251,317	$	10,053

The Company considers troubled debt restructurings ("TDRs") to be impaired loans. A modification of a loan's terms constitutes a TDR if the creditor grants a concession to the borrower for economic or legal reasons related to the borrower's financial difficulties that it would not otherwise consider. Included in the impaired loan disclosures above are $99.8 million and $112.6 million of loans considered to be troubled debt restructurings as of March 31, 2012 and December 31, 2011, respectively. All loans that are considered to be TDRs are specifically evaluated for impairment in accordance with the Company's allowance for loan loss methodology.

The following table provides a summary, by class and modification type, 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 in nonaccrual status, which are considered to be nonperforming, as of March 31, 2012 (dollars in thousands):


	Modified to Interest Only						Term Modification at Market Rate						Term Modification below Market Rate						Total
	No. of Loans		Recorded Investment		Outstanding Commitment		No. of Loans		Recorded Investment		Outstanding Commitment		No. of Loans		Recorded Investment		Outstanding Commitment		No. of Loans		Recorded Investment		Outstanding Commitment
Performing
Commercial:
Commercial Construction		—	$	—	$	—		11	$	15,437	$	2,649		—	$	—	$	—		11	$	15,437	$	2,649
Commercial Real Estate - Owner Occupied		2		398		—		8		7,554		347		3		555		—		13		8,507		347
Commercial Real Estate - Non-Owner Occupied		1		301		—		9		17,157		—		—		—		—		10		17,458		—
Raw Land and Lots		3		329		—		9		24,391		174		4		6,994		—		16		31,714		174
Single Family Investment Real Estate		2		180		—		8		4,915		—		1		385		—		11		5,480		—
Commercial and Industrial		—		—		—		12		4,784		192		2		356		—		14		5,140		192
Other Commercial		—		—		—		2		302		—		—		—		—		2		302		—
Consumer:
Mortgage		2		604		—		5		807		—		1		507		—		8		1,918		—
Other Consumer		—		—		—		1		108		—		—		—		—		1		108		—

Total performing		10	$	1,812	$	—		65	$	75,455	$	3,362		11	$	8,797	$	—		86	$	86,064	$	3,362


Nonperforming
Commercial:
Commercial Construction		—	$	—	$	—		1	$	846	$	—		4	$	4,523	$	—		5	$	5,369	$	—
Commercial Real Estate - Owner Occupied		—		—		—		1		908		—		—		—		—		1		908		—
Commercial Real Estate - Non-Owner Occupied		1		216		—		1		73		—		—		—		—		2		289		—
Raw Land and Lots		1		341		—		2		353		—		3		3,567		—		6		4,261		—
Single Family Investment Real Estate		1		92		—		1		520		—		2		714		—		4		1,326		—
Commercial and Industrial		—		—		—		3		1,123		—		—		—		—		3		1,123		—
Consumer:
Indirect Marine		—		—		—		1		261		—		—		—		—		1		261		—
Other Consumer		—		—		—		1		206		—		—		—		—		1		206		—

Total nonperforming		3	$	649	$	—		11	$	4,290	$	—		9	$	8,804	$	—		23	$	13,743	$	—


Total performing and nonperforming		13	$	2,461	$	—		76	$	79,745	$	3,362		20	$	17,601	$	—		109	$	99,807	$	3,362


	Modified to Interest Only						Term Modification at Market Rate						Term Modification below Market Rate						Total
	No. of Loans		Recorded Investment		Outstanding Commitment		No. of Loans		Recorded Investment		Outstanding Commitment		No. of Loans		Recorded Investment		Outstanding Commitment		No. of Loans		Recorded Investment		Outstanding Commitment
Performing
Commercial:
Commercial Construction		—	$	—	$	—		14	$	21,461	$	3,185		—	$	—	$	—		14	$	21,461	$	3,185
Commercial Real Estate - Owner Occupied		2		398		—		7		7,052		180		2		546		—		11		7,996		180
Commercial Real Estate - Non-Owner Occupied		1		301		—		15		21,476		13		—		—		—		16		21,777		13
Raw Land and Lots		—		—		—		11		25,425		1		4		7,025		—		15		32,450		1
Single Family Investment Real Estate		—		—		—		10		6,750		—		2		1,775		—		12		8,525		—
Commercial and Industrial		—		—		—		10		4,629		204		2		362		—		12		4,991		204
Other Commercial		—		—		—		4		864		—		—		—		—		4		864		—
Consumer:
Mortgage		—		—		—		—		—		—		1		507		—		1		507		—
Other Consumer		—		—		—		2		263		—		—		—		—		2		263		—

Total performing		3	$	699	$	—		73	$	87,920	$	3,583		11	$	10,215	$	—		87	$	98,834	$	3,583


Nonperforming
Commercial:
Commercial Construction		—	$	—	$	—		1	$	762	$	—		4	$	4,591	$	—		5	$	5,353	$	—
Commercial Real Estate - Non-Owner Occupied		1		218		—		1		74		—		—		—		—		2		292		—
Raw Land and Lots		1		341		—		2		358		—		3		3,643		—		6		4,342		—
Single Family Investment Real Estate		1		93		—		1		529		—		2		720		—		4		1,342		—
Commercial and Industrial		—		—		—		3		1,134		—		—		—		—		3		1,134		—
Consumer:
Mortgage		1		538		—		4		538		—		—		—		—		5		1,076		—
Other Consumer		—		—		—		1		265		—		—		—		—		1		265		—

Total nonperforming		4	$	1,190	$	—		13	$	3,660	$	—		9	$	8,954	$	—		26	$	13,804	$	—


Total performing and nonperforming		7	$	1,889	$	—		86	$	91,580	$	3,583		20	$	19,169	$	—		113	$	112,638	$	3,583

The Company considers a default of a restructured loan to occur when subsequent to the restructure, the borrower is 90 days past due or results in foreclosure and repossession of the applicable collateral; the Company identified one restructured loan, totaling approximately $453,000, that went into default in the first quarter that had been restructured during the previous twelve months. This loan was a commercial real estate (owner occupied) loan for which the term had been extended at a market rate. The following table shows, by class and modification type, TDRs that occurred during the three month period ended March 31, 2012 (dollars in thousands):


	All Restructurings
	No. of Loans		Recorded investment at period end
Interest only at market rate of interest
Commercial:
Raw Land and Lots		3	$	329
Single Family Investment Real Estate		2		180
Consumer:
Mortgage		1		202

Total interest only at market rate of interest		6	$	711


Loan term extended at a market rate
Commercial:
Commercial Real Estate - Owner Occupied		2	$	1,701
Raw Land and Lots		1		604
Commercial and Industrial		1		104
Consumer:
Mortgage		1		273
Other Consumer		1		206

Total loan term extended at a market rate		6	$	2,888


Loan term extended at a below market rate
Commercial:
Commercial Real Estate - Owner Occupied		1	$	10

Total loan term extended at a below market rate		1	$	10

Total		13	$	3,609

The primary modification to each loan class identified as TDRs during the period related to a renewal at the current terms and those terms were considered to be below market based on the risk characteristics of the borrower. Generally, the Company does not modify interest rates or reduce principal balances when restructuring loans, thus the recorded investment is unchanged after the modification is made.

The following table shows the allowance for loan loss activity, by portfolio segment, balances for allowance for credit losses, and loans based on impairment methodology for the three months ended March 31, 2012. 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			Unallocated			Total

Allowance for loan losses:
Balance, beginning of the year	$	27,891		$	11,498		$	81		$	39,470
Recoveries credited to allowance		66			275			—			341
Loans charged off		(1,399	)		(1,708	)		—			(3,107	)
Provision charged to operations		3,086			479			(65	)		3,500

Balance, end of year	$	29,644		$	10,544		$	16		$	40,204


Ending balance: individually evaluated for impairment		10,070			1,057			—			11,127


Ending balance: collectively evaluated for impairment		19,413			9,487			16			28,916


Ending balance: loans acquired with deteriorated credit quality		161			—			—			161


Total	$	29,644		$	10,544		$	16		$	40,204


Loans:
Ending balance	$	1,986,219		$	855,539		$	—		$	2,841,758


Ending balance: individually evaluated for impairment		215,948			6,701			—			222,649


Ending balance: collectively evaluated for impairment		1,763,200			847,769			—			2,610,969


Ending balance: loans acquired with deteriorated credit quality		7,071			1,069			—			8,140


Total	$	1,986,219		$	855,539		$	—		$	2,841,758

The following table shows the allowance for loan loss activity, portfolio segment types, balances for allowance for loan losses, and loans based on impairment methodology for the year ended December 31, 2011. 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			Unallocated			Total

Allowance for loan losses:
Balance, beginning of the year	$	28,255		$	10,189		$	(38	)	$	38,406
Recoveries credited to allowance		924			1,206			—			2,130
Loans charged off		(10,891	)		(6,975	)		—			(17,866	)
Provision charged to operations		9,603			7,078			119			16,800

Balance, end of year	$	27,891		$	11,498		$	81		$	39,470


Ending balance: individually evaluated for impairment		8,982			1,231			—			10,213


Ending balance: collectively evaluated for impairment		18,824			10,267			81			29,172


Ending balance: loans acquired with deteriorated credit quality		85			—			—			85


Total	$	27,891		$	11,498		$	81		$	39,470


Loans:
Ending balance	$	1,956,241		$	862,342		$	—		$	2,818,583


Ending balance: individually evaluated for impairment		229,535			3,401			—			232,936


Ending balance: collectively evaluated for impairment		1,717,878			857,872			—			2,575,750


Ending balance: loans acquired with deteriorated credit quality		8,828			1,069			—			9,897


Total	$	1,956,241		$	862,342		$	—		$	2,818,583

The Company uses the past due status and trends as the primary credit quality indicator for the consumer loan portfolio segment while a risk rating system is utilized for commercial loans. Commercial loans are graded on a scale of 1 through 9. A general description of the characteristics of the risk grades follows:

Risk rated 1 loans have little or no risk and are generally secured by cash or cash equivalents;

Risk rated 2 loans have minimal risk to well qualified borrowers and no significant questions as to risk;

Risk rated 3 loans are satisfactory loans with strong borrowers and secondary sources of repayment;

Risk rated 4 loans are satisfactory loans with borrowers not as strong as risk rated 3 loans and may exhibit a greater degree of financial risk based on the type of business supporting the loan;

Risk rated 5 loans are watch loans that warrant more than the normal level of supervision and have the possibility of an event occurring that may weaken the borrower's ability to repay;

Risk rated 6 loans have increasing potential weaknesses beyond those at which the loan originally was granted and if not addressed could lead to inadequately protecting the Company's credit position;

Risk rated 7 loans are substandard loans and are inadequately protected by the current sound worth or paying capacity of the obligor or the collateral pledged; these have well defined weaknesses that jeopardize the liquidation of the debt with the distinct possibility the Company will sustain some loss if the deficiencies are not corrected;

Risk rated 8 loans are doubtful of collection and the possibility of loss is high but pending specific borrower plans for recovery, its classification as a loss is deferred until its more exact status is determined; and

Risk rated 9 loans are loss loans which are considered uncollectable and of such little value that their continuance as bankable assets is not warranted.

The following table shows all loans, excluding purchased impaired loans, in the commercial portfolios by class with their related risk rating as of March 31, 2012. The risk rating information has been updated through March 31, 2012 (dollars in thousands):


	1-3		4		5		6		7		8		Total
Commercial Construction	$	13,480	$	74,692	$	10,700	$	32,623	$	45,169	$	—	$	176,664
Commercial Real Estate - Owner Occupied		91,635		308,483		18,609		24,178		24,309		—		467,214
Commercial Real Estate - Non-Owner Occupied		141,066		421,129		44,562		39,764		35,084		—		681,605
Raw Land and Lots		4,424		100,739		14,360		32,932		47,058		275		199,788
Single Family Investment Real Estate		33,473		125,271		15,767		13,563		12,675		—		200,749
Commercial and Industrial		36,829		124,074		18,884		9,371		20,287		192		209,637
Other Commercial		5,491		17,135		15,470		3,481		1,852		62		43,491

Total	$	326,398	$	1,171,523	$	138,352	$	155,912	$	186,434	$	529	$	1,979,148

The following table shows all loans, excluding purchased impaired loans, in the commercial portfolios by class with their related risk rating as of December 31, 2011. The risk rating information has been updated through December 31, 2011 (dollars in thousands)


	1-3		4		5		6		7		8		Total
Commercial Construction	$	10,099	$	84,299	$	6,079	$	36,650	$	48,232	$	—	$	185,359
Commercial Real Estate - Owner Occupied		88,430		296,825		17,604		21,158		26,389		709		451,115
Commercial Real Estate - Non-Owner Occupied		149,346		367,244		58,844		38,662		39,854		—		653,950
Raw Land and Lots		4,368		99,374		18,767		33,673		52,204		275		208,661
Single Family Investment Real Estate		32,741		116,570		11,928		14,358		16,452		—		192,049
Commercial and Industrial		35,120		123,872		22,079		11,559		19,066		180		211,876
Other Commercial		6,364		15,918		16,739		3,807		1,512		63		44,403

Total	$	326,468	$	1,104,102	$	152,040	$	159,867	$	203,709	$	1,227	$	1,947,413

The following table shows only purchased impaired loans in the commercial portfolios by class with their related risk rating as of March 31, 2012. The credit quality indicator information has been updated through March 31, 2012 (dollars in thousands):


	6		7		8		Total
Commercial Real Estate - Owner Occupied	$	—	$	1,178	$	—	$	1,178
Raw Land and Lots		—		5,178		—		5,178
Single Family Investment Real Estate		337		17		—		354
Commercial and Industrial		—		83		278		361

Total	$	337	$	6,456	$	278	$	7,071

The following table shows only purchased impaired loans in the commercial portfolios by class with their related risk rating as of December 31, 2011. The credit quality indicator information has been updated through December 31, 2011 (dollars in thousands):


	6		7		8		Total
Commercial Real Estate - Owner Occupied	$	—	$	1,292	$	—	$	1,292
Commercial Real Estate - Non-Owner Occupied		—		1,133		—		1,133
Raw Land and Lots		—		5,623		—		5,623
Single Family Investment Real Estate		369		19		—		388
Commercial and Industrial		—		91		301		392

Total	$	369	$	8,158	$	301	$	8,828

Loans acquired are originally recorded at fair value, with certain loans being identified as impaired at the date of purchase. The fair values were determined based on the credit quality of the portfolio, expected future cash flows, and timing of those expected future cash flows. The contractually required payments, cash flows expected to be collected, and fair value as of the date of acquisition were $1,080,780, $1,072,726, and $1,052,358 respectively (dollars in thousands).

The following shows changes in the Company's acquired loan portfolio and accretable yield for the following periods (dollars in thousands):


	For the Three Months Ended March 31, 2012												For the Twelve Months Ended December 31, 2011
	Purchased Impaired						Purchased Nonimpaired						Purchased Impaired						Purchased Nonimpaired
	Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans
Balance at beginning of period	$	5,140		$	9,897		$	9,010		$	663,510		$	8,169		$	13,999		$	13,589		$	799,898
Additions		—			—			—			—			122			276			1,593			70,524
Accretion		(18	)		—			(1,256	)		—			(66	)		—			(6,172	)		—
Charged off		(3	)		(3	)		—			(541	)		(3,073	)		(1,329	)		—			(5,988	)
Transfers to OREO		—			(1,713	)		—			(2,766	)		(12	)		(174	)		—			(2,341	)
Payments received, net		—			(41	)		—			(88,665	)		—			(2,875	)		—			(198,583	)

Balance at end of period	$	5,119		$	8,140		$	7,754		$	571,538		$	5,140		$	9,897		$	9,010		$	663,510

- Definition

The entire disclosure for claims held for amounts due a company. Examples include trade accounts receivables, notes receivables, loans receivables.

+ References

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

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+ Details