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

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

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

Nonaccrual loans totaled $26.2 million and $44.8 million at December 31, 2012 and 2011, respectively. Had these loans performed in accordance with their original terms, interest income of approximately $1.3 million, $1.3 million, and $1.0 million would have been recorded in 2012, 2011, and 2010, respectively. There were no nonaccrual loans excluded from impaired loan disclosure at December 31, 2012 and 2011. Loans past due 90 days or more and accruing interest totaled $8.8 million and $19.9 million at December 31, 2012 and 2011, respectively.

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

The current column includes 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):

The current column includes 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 December 31, 2012, the Company had $155.4 million in loans considered to be impaired of which $13.0 million were collectively evaluated for impairment and $142.4 million were individually evaluated for impairment. The following table shows the Company’s impaired loans individually evaluated for impairment (including purchased impaired loans), by class, at December 31, 2012 (dollars in thousands):

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 (including purchased impaired loans), by class, at December 31, 2011 (dollars in thousands):

For the years ended December 31, 2012, 2011, and 2010, the average investment in impaired loans was $153.0 million, $251.3 million, and $297.9 million, respectively. The interest income recorded on impaired loans was approximately $5.9 million, $10.1 million, and $12.1 million in 2012, 2011 and 2010, respectively.

The Company considers troubled debt restructurings 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 disclosure above are $63.5 million of loans considered to be troubled debt restructurings as of December 31, 2012. All loans that are considered to be TDRs are specifically evaluated for impairment in accordance with the Company’s allowance for loan loss methodology. For the year ended December 31, 2012, the recorded investment in restructured loans prior to modification was not materially impacted by the modification.

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 in nonaccrual status, which are considered to be nonperforming, as of December 31, 2012 and 2011 (dollars in thousands):