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 (Tables)

Loans and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2012

Loans and Allowance for Loan Losses [Abstract]

Loans stated at face amount, net of unearned income


	September 30, 2012		December 31, 2011
Commercial:
Commercial Construction	$	200,032	$	185,359
Commercial Real Estate - Owner Occupied		492,715		452,407
Commercial Real Estate - Non-Owner Occupied		693,679		655,083
Raw Land and Lots		212,316		214,284
Single Family Investment Real Estate		206,090		192,437
Commercial and Industrial		209,401		212,268
Other Commercial		40,307		44,403
Consumer:
Mortgage		221,474		219,646
Consumer Construction		27,488		20,757
Indirect Auto		159,495		162,708
Indirect Marine		31,314		39,819
HELOCs		286,348		277,101
Credit Card		20,332		19,006
Other Consumer		107,519		123,305

Total	$	2,908,510	$	2,818,583

Summary of aging of the loan portfolio, by class


	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	$	6,148	$	—	$	—	$	—	$	7,846	$	186,038	$	200,032
Commercial Real Estate - Owner Occupied		2,865		88		822		1,228		2,212		485,500		492,715
Commercial Real Estate - Non-Owner Occupied		5,116		—		635		—		540		687,388		693,679
Raw Land and Lots		138		—		153		3,743		10,995		197,287		212,316
Single Family Investment Real Estate		686		102		201		371		4,081		200,649		206,090
Commercial and Industrial		230		191		120		89		2,678		206,093		209,401
Other Commercial		238		1		—		—		195		39,873		40,307
Consumer:
Mortgage		3,899		3,003		3,991		—		693		209,888		221,474
Consumer Construction		—		—		—		—		210		27,278		27,488
Indirect Auto		1,998		234		289		24		2		156,948		159,495
Indirect Marine		68		—		114		—		876		30,256		31,314
HELOCs		2,481		536		1,707		851		797		279,976		286,348
Credit Card		147		223		268		—		—		19,694		20,332
Other Consumer		893		629		796		131		1,034		104,036		107,519

Total	$	24,907	$	5,007	$	9,096	$	6,437	$	32,159	$	2,830,904	$	2,908,510


	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


	30-89 Days Past Due		Greater than 90 Days		Current		Total
Commercial:
Commercial Real Estate - Owner Occupied	$	—	$	1,164	$	64	$	1,228
Raw Land and Lots		—		91		3,652		3,743
Single Family Investment Real Estate		16		—		355		371
Commercial and Industrial		—		89		—		89
Consumer:
Indirect Auto		7		—		17		24
HELOCs		—		50		801		851
Other Consumer		—		26		105		131

Total	$	23	$	1,420	$	4,994	$	6,437


	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

Impaired loans individually evaluated for impairment, by class


	Recorded Investment		Unpaid Principal Balance		Related Allowance		YTD Average Investment		Interest Income Recognized
Loans without a specific allowance
Commercial:
Commercial Construction	$	30,864	$	31,347	$	—	$	31,913	$	1,073
Commercial Real Estate - Owner Occupied		10,774		11,246		—		11,517		423
Commercial Real Estate - Non-Owner Occupied		21,230		21,305		—		22,644		867
Raw Land and Lots		35,067		35,141		—		36,376		941
Single Family Investment Real Estate		5,860		6,180		—		6,440		216
Commercial and Industrial		3,361		3,394		—		3,837		135
Other Commercial		906		906		—		1,009		46
Consumer:
Mortgage		2,592		2,645		—		2,983		80
Indirect Auto		6		6		—		9		—
HELOCs		1,672		1,771		—		1,843		10
Other Consumer		871		910		—		937		21

Total impaired loans without a specific allowance	$	113,203	$	114,851	$	—	$	119,508	$	3,812

Loans with a specific allowance
Commercial:
Commercial Construction	$	4,290	$	4,338	$	1,368	$	4,360	$	20
Commercial Real Estate - Owner Occupied		2,718		2,853		665		2,888		22
Commercial Real Estate - Non-Owner Occupied		13,546		13,580		426		13,777		568
Raw Land and Lots		12,472		12,669		3,052		13,168		118
Single Family Investment Real Estate		2,503		2,573		962		2,736		44
Commercial and Industrial		9,929		10,069		3,581		10,059		304
Other Commercial		134		134		108		134		—
Consumer:
Consumer Construction		210		236		76		226		—
Indirect Marine		876		876		404		879		3
HELOCs		752		811		550		1,017		—
Other Consumer		563		563		246		563		—

Total impaired loans with a specific allowance	$	47,993	$	48,702	$	11,438	$	49,807	$	1,079

Total loans individually evaluated for impairment	$	161,196	$	163,553	$	11,438	$	169,315	$	4,891


	Recorded Investment		Unpaid Principal Balance		Related Allowance		YTD Average Investment		Interest Income 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

Summary, by class and modification type, of continue accrue interest under the terms of restructuring agreement


	September 30, 2012						December 31, 2011
	No. of Loans		Recorded Investment		Outstanding Commitment		No. of Loans		Recorded Investment		Outstanding Commitment
Performing
Commercial:
Commercial Construction		6	$	6,559	$	169		14	$	21,461	$	3,185
Commercial Real Estate - Owner Occupied		8		3,056		—		11		7,996		180
Commercial Real Estate - Non-Owner Occupied		10		13,082		29		16		21,777		13
Raw Land and Lots		14		25,274		1		15		32,450		1
Single Family Investment Real Estate		5		848		—		12		8,525		—
Commercial and Industrial		6		1,103		—		12		4,991		204
Other Commercial		1		236		—		4		864		—
Consumer:
Mortgage		7		1,690		—		1		507		—
Other Consumer		2		85		—		2		263		—

Total performing		59	$	51,933	$	199		87	$	98,834	$	3,583

Nonperforming
Commercial:
Commercial Construction		4	$	4,260	$	—		5	$	5,353	$	—
Commercial Real Estate - Owner Occupied		3		1,084		—		—		—		—
Commercial Real Estate - Non-Owner Occupied		1		208		—		2		292		—
Raw Land and Lots		3		3,860		—		6		4,342		—
Single Family Investment Real Estate		2		433		—		4		1,342		—
Commercial and Industrial		7		1,284		—		3		1,134		—
Consumer:
Mortgage		1		202		—		5		1,076		—
Indirect Marine		1		283		—		—		—		—
Other Consumer		2		266		—		1		265		—

Total nonperforming		24	$	11,880	$	—		26	$	13,804	$	—

Total performing and nonperforming		83	$	63,813	$	199		113	$	112,638	$	3,583

Schedule of TDR by class and modification type


	Three months ended September 30, 2012				Nine months ended September 30, 2012
	No. of Loans		Recorded investment at period end		No. of Loans		Recorded investment at period end
Modified to interest only
Commercial:
Commercial Real Estate - Non-Owner Occupied		—	$	—		1	$	309
Raw Land and Lots		—		—		3		260
Single Family Investment Real Estate		—		—		2		176
Consumer:
Indirect Marine		—		—		1		283

Total interest only at market rate of interest		—	$	—		7	$	1,028

Term modification, at a market rate
Commercial:
Commercial Real Estate - Owner Occupied		—	$	—		3	$	1,809
Commercial Real Estate - Non-Owner Occupied		2		720		2		720
Raw Land and Lots		—		—		1		603
Commercial and Industrial		1		115		6		432
Consumer:
Mortgage		—		—		2		472
Other Consumer		—		—		3		282

Total loan term extended at a market rate		3	$	835		17	$	4,318

Term modification, below market rate
Commercial:
Commercial Real Estate - Owner Occupied		—	$	—		4	$	654
Raw Land and Lots		1		60		1		60
Consumer:
Other Consumer		1		69		1		69

Total loan term extended at a below market rate		2	$	129		6	$	783

Interest rate modification, below market rate
Commercial:
Commercial Real Estate - Non-Owner Occupied		—	$	—		2	$	2,390

Total interest only at below market rate of interest		—	$	—		2	$	2,390

Total		5	$	964		32	$	8,519


	Three months ended September 30, 2011				Nine months ended September 30, 2011
	No. of Loans		Recorded investment at period end		No. of Loans		Recorded investment at period end
Modified to interest only
Commercial:
Commercial Real Estate - Non-Owner Occupied		—	$	—		1	$	223
Raw Land and Lots		—		—		1		341
Single Family Investment Real Estate		1		95		1		95

Total interest only at market rate of interest		1	$	95		3	$	659

Term modification, at a market rate
Commercial:
Commercial Construction		5	$	7,072		15	$	22,940
Commercial Real Estate - Owner Occupied		3		3,869		5		5,035
Commercial Real Estate - Non-Owner Occupied		2		2,572		16		21,655
Raw Land and Lots		4		18,625		14		27,596
Single Family Investment Real Estate		1		2,616		10		7,286
Commercial and Industrial		5		2,729		12		5,623
Other Commercial		2		457		5		911
Consumer:
Mortgage		1		56		4		538
Other Consumer		1		270		3		533

Total loan term extended at a market rate		24	$	38,266		84	$	92,117

Term modification, below market rate
Commercial:
Commercial Construction		—	$	—		3	$	3,451
Commercial Real Estate - Owner Occupied		2		546		2		546
Raw Land and Lots		—		—		6		6,391
Single Family Investment Real Estate		—		—		4		2,506
Commercial and Industrial		—		—		2		368
Consumer:
Mortgage		—		—		1		507

Total loan term extended at a below market rate		2	$	546		18	$	13,769

Total		27	$	38,907		105	$	106,545

Allowance for loan loss activity, by portfolio segment, balances for allowance for credit losses, and loans based on impairment methodology


	Commercial			Consumer			Unallocated			Total
Allowance for loan losses:
Balance, beginning of the year	$	27,891		$	11,498		$	81		$	39,470
Recoveries credited to allowance		490			881			—			1,371
Loans charged off		(5,956	)		(3,891	)		—			(9,847	)
Provision charged to operations		7,301			1,626			(27	)		8,900

Balance, end of period	$	29,726		$	10,114		$	54		$	39,894

Ending balance: individually evaluated for impairment		10,033			1,276			—			11,309

Ending balance: collectively evaluated for impairment		19,564			8,838			54			28,456

Ending balance: loans acquired with deteriorated credit quality		129			—			—			129

Total	$	29,726		$	10,114		$	54		$	39,894

Loans:
Ending balance	$	2,054,540		$	853,970		$	—		$	2,908,510

Ending balance: individually evaluated for impairment		148,223			6,536			—			154,759

Ending balance: collectively evaluated for impairment		1,900,886			846,428			—			2,747,314

Ending balance: loans acquired with deteriorated credit quality		5,431			1,006			—			6,437

Total	$	2,054,540		$	853,970		$	—		$	2,908,510


	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

Loans receivables related risk rating excluding purchased impaired loans


	1-3		4		5		6		7		8		Total
Commercial Construction	$	11,409	$	105,226	$	11,150	$	39,371	$	32,766	$	110	$	200,032
Commercial Real Estate - Owner Occupied		125,840		314,456		22,406		17,671		11,114		—		491,487
Commercial Real Estate - Non-Owner Occupied		164,530		416,312		51,597		31,961		29,279		—		693,679
Raw Land and Lots		3,378		112,439		14,807		33,719		43,724		506		208,573
Single Family Investment Real Estate		24,329		145,213		14,109		12,898		8,431		739		205,719
Commercial and Industrial		44,831		122,572		13,779		13,284		14,671		175		209,312
Other Commercial		5,307		16,489		12,133		4,803		1,515		60		40,307

Total	$	379,624	$	1,232,707	$	139,981	$	153,707	$	141,500	$	1,590	$	2,049,109

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

Loans receivables related risk rating including purchased impaired loans


	5		6		7		8		Total
Commercial Real Estate - Owner Occupied	$	—	$	—	$	1,228	$	—	$	1,228
Raw Land and Lots		—		—		3,743		—		3,743
Single Family Investment Real Estate		355		—		16		—		371
Commercial and Industrial		—		—		89		—		89

Total	$	355	$	—	$	5,076	$	—	$	5,431

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

Schedule of acquired loan portfolio and accretable yield


	For the Nine Months Ended												For the Twelve Months Ended
	September 30, 2012												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		(55	)		—			(2,960	)		—			(66	)		—			(6,172	)		—
Charged off		(1,602	)		(397	)		—			(1,551	)		(3,073	)		(1,329	)		—			(5,988	)
Transfers to OREO		—			(2,371	)		—			(2,766	)		(12	)		(174	)		—			(2,341	)
Payments received, net		—			(692	)		—			(155,947	)		—			(2,875	)		—			(198,583	)

Balance at end of period	$	3,483		$	6,437		$	6,050		$	503,246		$	5,140		$	9,897		$	9,010		$	663,510