| LOANS AND ALLOWANCE FOR LOAN LOSSES |
4.LOANS AND ALLOWANCE FOR LOAN LOSSES
Loans are stated at their face amount, net of deferred fees and costs, and consist of the following at December 31, 2015 and 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
|
Commercial:
|
|
|
|
|
|
|
Commercial Construction
|
$
|
484,768
|
|
$
|
341,280
|
|
Commercial Real Estate - Owner Occupied
|
|
860,086
|
|
|
875,443
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
1,618,605
|
|
|
1,509,159
|
|
Raw Land and Lots
|
|
195,665
|
|
|
211,225
|
|
Single Family Investment Real Estate
|
|
429,489
|
|
|
412,494
|
|
Commercial and Industrial
|
|
467,613
|
|
|
393,776
|
|
Other Commercial
|
|
91,892
|
|
|
81,106
|
|
Consumer:
|
|
|
|
|
|
|
Mortgage
|
|
474,034
|
|
|
478,151
|
|
Consumer Construction
|
|
49,359
|
|
|
74,168
|
|
Indirect Auto
|
|
225,815
|
|
|
199,411
|
|
Indirect Marine
|
|
43,717
|
|
|
43,190
|
|
HELOCs
|
|
494,192
|
|
|
500,579
|
|
Credit Card
|
|
-
|
|
|
24,225
|
|
Other Consumer
|
|
236,227
|
|
|
201,789
|
|
Total
|
$
|
5,671,462
|
|
$
|
5,345,996
|
|
|
|
|
|
|
|
On October 16, 2015, the Company entered into an agreement to sell its credit card portfolio, approximating $26.4 million in outstanding balances, and entered into an outsourcing partnership with Elan Financial Services. The Company sold these loans at a premium. The sale of the credit card portfolio resulted in an after-tax benefit of $805,000 on the Company’s Consolidated Statement of Income in 2015. As part of the agreement, the Company will continue to share in interchange fee income and finance charges.
The following table shows the aging of the Company’s recorded investment in the loan portfolio, by class, at December 31, 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
|
$
|
2,377
|
|
$
|
248
|
|
$
|
-
|
|
$
|
1,404
|
|
$
|
748
|
|
$
|
479,991
|
|
$
|
484,768
|
|
Commercial Real Estate - Owner Occupied
|
|
1,714
|
|
|
118
|
|
|
103
|
|
|
27,388
|
|
|
3,904
|
|
|
826,859
|
|
|
860,086
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
771
|
|
|
-
|
|
|
995
|
|
|
15,128
|
|
|
100
|
|
|
1,601,611
|
|
|
1,618,605
|
|
Raw Land and Lots
|
|
229
|
|
|
-
|
|
|
-
|
|
|
4,524
|
|
|
415
|
|
|
190,497
|
|
|
195,665
|
|
Single Family Investment Real Estate
|
|
2,576
|
|
|
1,783
|
|
|
432
|
|
|
14,371
|
|
|
967
|
|
|
409,360
|
|
|
429,489
|
|
Commercial and Industrial
|
|
1,029
|
|
|
27
|
|
|
124
|
|
|
1,851
|
|
|
908
|
|
|
463,674
|
|
|
467,613
|
|
Other Commercial
|
|
296
|
|
|
-
|
|
|
159
|
|
|
744
|
|
|
-
|
|
|
90,693
|
|
|
91,892
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
11,467
|
|
|
4,799
|
|
|
2,889
|
|
|
5,040
|
|
|
1,996
|
|
|
447,843
|
|
|
474,034
|
|
Consumer Construction
|
|
297
|
|
|
-
|
|
|
-
|
|
|
241
|
|
|
869
|
|
|
47,952
|
|
|
49,359
|
|
Indirect Auto
|
|
2,202
|
|
|
222
|
|
|
50
|
|
|
-
|
|
|
192
|
|
|
223,149
|
|
|
225,815
|
|
Indirect Marine
|
|
205
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
43,512
|
|
|
43,717
|
|
HELOCs
|
|
2,504
|
|
|
1,112
|
|
|
762
|
|
|
1,791
|
|
|
910
|
|
|
487,113
|
|
|
494,192
|
|
Other Consumer
|
|
2,120
|
|
|
1,024
|
|
|
315
|
|
|
1,255
|
|
|
927
|
|
|
230,586
|
|
|
236,227
|
|
Total
|
$
|
27,787
|
|
$
|
9,333
|
|
$
|
5,829
|
|
$
|
73,737
|
|
$
|
11,936
|
|
$
|
5,542,840
|
|
$
|
5,671,462
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the aging of the Company’s recorded investment in the 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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual loans totaled $11.9 million, $19.3 million, and $15.0 million at December 31, 2015, 2014, and 2013, respectively. Had these loans performed in accordance with their original terms, interest income of approximately $487,000, $795,000, and $778,000 would have been recorded in 2015, 2014, and 2013, respectively. All nonaccrual loans were included in the impaired loan disclosure in 2015 and 2014.
The following table shows the recorded investment in the PCI commercial and consumer loan portfolios, by class and their delinquency status, at December 31, 2015 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-89 Days Past Due
|
|
Greater than 90 Days
|
|
Current
|
|
Total
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
-
|
|
$
|
-
|
|
$
|
1,404
|
|
$
|
1,404
|
|
Commercial Real Estate - Owner Occupied
|
|
1,139
|
|
|
1,412
|
|
|
24,837
|
|
|
27,388
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
755
|
|
|
202
|
|
|
14,171
|
|
|
15,128
|
|
Raw Land and Lots
|
|
369
|
|
|
-
|
|
|
4,155
|
|
|
4,524
|
|
Single Family Investment Real Estate
|
|
1,177
|
|
|
618
|
|
|
12,576
|
|
|
14,371
|
|
Commercial and Industrial
|
|
209
|
|
|
21
|
|
|
1,621
|
|
|
1,851
|
|
Other Commercial
|
|
13
|
|
|
42
|
|
|
689
|
|
|
744
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
908
|
|
|
1,239
|
|
|
2,893
|
|
|
5,040
|
|
Consumer Construction
|
|
-
|
|
|
241
|
|
|
-
|
|
|
241
|
|
HELOCs
|
|
410
|
|
|
458
|
|
|
923
|
|
|
1,791
|
|
Other Consumer
|
|
45
|
|
|
24
|
|
|
1,186
|
|
|
1,255
|
|
Total
|
$
|
5,025
|
|
$
|
4,257
|
|
$
|
64,455
|
|
$
|
73,737
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the recorded investment in 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
|
The Company measures the amount of impairment by evaluating loans either in their collective homogeneous pools or individually. The following table shows the Company’s impaired loans, excluding PCI loans related to the StellarOne acquisition, by class, at December 31, 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
|
$
|
9,924
|
|
$
|
10,202
|
|
$
|
-
|
|
$
|
9,415
|
|
$
|
502
|
|
Commercial Real Estate - Owner Occupied
|
|
7,781
|
|
|
8,983
|
|
|
-
|
|
|
8,226
|
|
|
199
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
9,156
|
|
|
9,153
|
|
|
-
|
|
|
9,135
|
|
|
441
|
|
Raw Land and Lots
|
|
22,986
|
|
|
23,270
|
|
|
-
|
|
|
23,533
|
|
|
1,627
|
|
Single Family Investment Real Estate
|
|
4,584
|
|
|
5,032
|
|
|
-
|
|
|
4,792
|
|
|
194
|
|
Commercial and Industrial
|
|
1,655
|
|
|
2,241
|
|
|
-
|
|
|
2,230
|
|
|
61
|
|
Other Commercial
|
|
309
|
|
|
309
|
|
|
-
|
|
|
324
|
|
|
20
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
1,424
|
|
|
1,892
|
|
|
-
|
|
|
1,801
|
|
|
21
|
|
Consumer Construction
|
|
370
|
|
|
372
|
|
|
-
|
|
|
377
|
|
|
14
|
|
Indirect Auto
|
|
7
|
|
|
7
|
|
|
-
|
|
|
9
|
|
|
-
|
|
HELOCs
|
|
1,467
|
|
|
1,546
|
|
|
-
|
|
|
1,535
|
|
|
45
|
|
Other Consumer
|
|
803
|
|
|
886
|
|
|
-
|
|
|
850
|
|
|
18
|
|
Total impaired loans without a specific allowance
|
$
|
60,466
|
|
$
|
63,893
|
|
$
|
-
|
|
$
|
62,227
|
|
$
|
3,142
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans with a specific allowance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
211
|
|
$
|
211
|
|
$
|
17
|
|
$
|
143
|
|
$
|
3
|
|
Commercial Real Estate - Owner Occupied
|
|
3,237
|
|
|
3,239
|
|
|
358
|
|
|
3,183
|
|
|
149
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
907
|
|
|
907
|
|
|
75
|
|
|
920
|
|
|
53
|
|
Raw Land and Lots
|
|
2,347
|
|
|
2,347
|
|
|
216
|
|
|
2,358
|
|
|
97
|
|
Single Family Investment Real Estate
|
|
2,144
|
|
|
2,146
|
|
|
174
|
|
|
2,171
|
|
|
100
|
|
Commercial and Industrial
|
|
2,040
|
|
|
2,039
|
|
|
449
|
|
|
2,273
|
|
|
107
|
|
Other Commercial
|
|
343
|
|
|
348
|
|
|
28
|
|
|
404
|
|
|
17
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
2,621
|
|
|
2,703
|
|
|
152
|
|
|
2,676
|
|
|
6
|
|
Consumer Construction
|
|
499
|
|
|
502
|
|
|
298
|
|
|
505
|
|
|
19
|
|
Indirect Auto
|
|
192
|
|
|
199
|
|
|
2
|
|
|
225
|
|
|
6
|
|
HELOCs
|
|
650
|
|
|
806
|
|
|
6
|
|
|
771
|
|
|
6
|
|
Other Consumer
|
|
1,461
|
|
|
1,655
|
|
|
227
|
|
|
1,552
|
|
|
30
|
|
Total impaired loans with a specific allowance
|
$
|
16,652
|
|
$
|
17,102
|
|
$
|
2,002
|
|
$
|
17,181
|
|
$
|
593
|
|
Total impaired loans
|
$
|
77,118
|
|
$
|
80,995
|
|
$
|
2,002
|
|
$
|
79,408
|
|
$
|
3,735
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the years ended December 31, 2015, 2014, and 2013, the average investment in impaired loans was $79.4 million, $141.2 million, and $128.5 million, respectively. The interest income recorded on impaired loans was approximately $3.7 million, $5.9 million, and $4.3 million in 2015, 2014, and 2013, respectively.
The Company considers TDRs to be impaired loans. A modification of a loan’s terms constitutes a TDR if the creditor grants a concession that it would not otherwise consider to the borrower for economic or legal reasons related to the borrower’s financial difficulties. TDRs totaled $12.7 million and $26.8 million as of December 31, 2015 and 2014, respectively. All loans that are considered to be TDRs are evaluated for impairment in accordance with the Company’s allowance for loan loss methodology and are included in the preceding impaired loan tables. For the year ended December 31, 2015, the recorded investment in restructured loans prior to modifications 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, 2015 and 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 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
|
|
|
1,530
|
|
|
-
|
|
3
|
|
|
682
|
|
|
-
|
|
Commercial Real Estate - Non-Owner Occupied
|
2
|
|
|
2,390
|
|
|
-
|
|
3
|
|
|
3,362
|
|
|
-
|
|
Raw Land and Lots
|
5
|
|
|
3,053
|
|
|
-
|
|
9
|
|
|
14,777
|
|
|
-
|
|
Single Family Investment Real Estate
|
2
|
|
|
443
|
|
|
-
|
|
6
|
|
|
1,046
|
|
|
-
|
|
Commercial and Industrial
|
5
|
|
|
261
|
|
|
-
|
|
9
|
|
|
722
|
|
|
-
|
|
Other Commercial
|
-
|
|
|
-
|
|
|
-
|
|
1
|
|
|
191
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
10
|
|
|
1,501
|
|
|
-
|
|
7
|
|
|
1,244
|
|
|
-
|
|
Other Consumer
|
16
|
|
|
1,306
|
|
|
-
|
|
3
|
|
|
98
|
|
|
-
|
|
Total performing
|
46
|
|
$
|
10,780
|
|
$
|
-
|
|
42
|
|
$
|
22,829
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
1
|
|
$
|
288
|
|
$
|
-
|
|
1
|
|
$
|
253
|
|
$
|
-
|
|
Commercial Real Estate - Owner Occupied
|
1
|
|
|
137
|
|
|
-
|
|
2
|
|
|
153
|
|
|
-
|
|
Commercial Real Estate - Non-Owner Occupied
|
-
|
|
|
-
|
|
|
-
|
|
1
|
|
|
539
|
|
|
-
|
|
Raw Land and Lots
|
1
|
|
|
33
|
|
|
-
|
|
2
|
|
|
1,053
|
|
|
-
|
|
Single Family Investment Real Estate
|
2
|
|
|
234
|
|
|
-
|
|
1
|
|
|
433
|
|
|
-
|
|
Commercial and Industrial
|
3
|
|
|
465
|
|
|
-
|
|
5
|
|
|
616
|
|
|
-
|
|
Other Commercial
|
-
|
|
|
-
|
|
|
-
|
|
1
|
|
|
74
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
3
|
|
|
764
|
|
|
-
|
|
2
|
|
|
770
|
|
|
-
|
|
Other Consumer
|
-
|
|
|
-
|
|
|
-
|
|
1
|
|
|
57
|
|
|
-
|
|
Total nonperforming
|
11
|
|
$
|
1,921
|
|
$
|
-
|
|
16
|
|
$
|
3,948
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total performing and nonperforming
|
57
|
|
$
|
12,701
|
|
$
|
-
|
|
58
|
|
$
|
26,777
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Company considers a default of a restructured loan to occur when the borrower is 90 days past due following the restructure or a foreclosure and repossession of the applicable collateral occurs. During the year ended December 31, 2015, the Company did not identify any restructured loans that went into default that had been restructured in the twelve-month period prior to default. During the year ended December 31, 2014, the Company identified one loan, totaling approximately $24,000 that went into default that had been restructured in the twelve-month period prior to the time of default. This loan was a mortgage loan which had a term modification at a market rate.
The following table shows, by class and modification type, TDRs that occurred during the years ended December 31, 2015 and 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
|
|
|
No. of Loans
|
|
Recorded Investment at Period End
|
|
No. of Loans
|
|
Recorded Investment at Period End
|
|
|
Modified to interest only, at a market rate
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and Industrial
|
1
|
|
$
|
19
|
|
-
|
|
$
|
-
|
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
1
|
|
|
21
|
|
-
|
|
|
-
|
|
|
Total interest only at market rate of interest
|
2
|
|
$
|
40
|
|
-
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term modification, at a market rate
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Real Estate - Owner Occupied
|
3
|
|
$
|
282
|
|
-
|
|
$
|
-
|
|
|
Commercial Real Estate - Non-Owner Occupied
|
-
|
|
|
-
|
|
1
|
|
|
972
|
|
|
Single Family Investment Real Estate
|
-
|
|
|
-
|
|
1
|
|
|
109
|
|
|
Commercial and Industrial
|
2
|
|
|
162
|
|
1
|
|
|
32
|
|
|
Other Commercial
|
-
|
|
|
-
|
|
2
|
|
|
265
|
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
1
|
|
|
102
|
|
-
|
|
|
-
|
|
|
Other Consumer
|
11
|
|
|
911
|
|
-
|
|
|
-
|
|
|
Total loan term extended at a market rate
|
17
|
|
$
|
1,457
|
|
5
|
|
$
|
1,378
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term modification, below market rate
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Real Estate - Owner Occupied
|
1
|
|
$
|
866
|
|
-
|
|
$
|
-
|
|
|
Raw Land and Lots
|
1
|
|
|
400
|
|
-
|
|
|
-
|
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
3
|
|
|
677
|
|
-
|
|
|
-
|
|
|
Other Consumer
|
4
|
|
|
362
|
|
-
|
|
|
-
|
|
|
Total loan term extended at a below market rate
|
9
|
|
$
|
2,305
|
|
-
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
28
|
|
$
|
3,802
|
|
5
|
|
$
|
1,378
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the allowance for loan loss activity as well as balances of allowance for loan losses and loans based on impairment methodology by portfolio segment for the year ended December 31, 2015. The table below includes the provision for loan losses. In addition, a $300,000 provision was recognized during the year ended December 31, 2015 for unfunded 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
|
|
|
2,584
|
|
|
1,343
|
|
|
3,927
|
|
Loans charged off
|
|
|
(6,834)
|
|
|
(4,701)
|
|
|
(11,535)
|
|
Provision charged to operations
|
|
|
6,951
|
|
|
2,320
|
|
|
9,271
|
|
Balance, end of period
|
|
$
|
25,053
|
|
$
|
8,994
|
|
$
|
34,047
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, ALL:
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
1,317
|
|
$
|
685
|
|
$
|
2,002
|
|
Loans collectively evaluated for impairment
|
|
|
23,736
|
|
|
8,309
|
|
|
32,045
|
|
Loans acquired with deteriorated credit quality
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Total
|
|
$
|
25,053
|
|
$
|
8,994
|
|
$
|
34,047
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, Loans:
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
67,177
|
|
$
|
9,385
|
|
$
|
76,562
|
|
Loans collectively evaluated for impairment
|
|
|
4,015,531
|
|
|
1,505,632
|
|
|
5,521,163
|
|
Loans acquired with deteriorated credit quality
|
|
|
65,410
|
|
|
8,327
|
|
|
73,737
|
|
Total
|
|
$
|
4,148,118
|
|
$
|
1,523,344
|
|
$
|
5,671,462
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the allowance for loan loss activity as well as balances of allowance for loan losses and loans based on impairment methodology by portfolio segment for the year ended December 31, 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
|
|
|
1,963
|
|
|
1,506
|
|
|
3,469
|
|
Loans charged off
|
|
|
(4,635)
|
|
|
(4,385)
|
|
|
(9,020)
|
|
Provision charged to operations
|
|
|
5,116
|
|
|
2,684
|
|
|
7,800
|
|
Balance, end of period
|
|
$
|
22,352
|
|
$
|
10,032
|
|
$
|
32,384
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, ALL:
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
3,697
|
|
$
|
834
|
|
$
|
4,531
|
|
Loans collectively evaluated for impairment
|
|
|
18,655
|
|
|
9,198
|
|
|
27,853
|
|
Loans acquired with deteriorated credit quality
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Total
|
|
$
|
22,352
|
|
$
|
10,032
|
|
$
|
32,384
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, Loans:
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
123,171
|
|
$
|
7,242
|
|
$
|
130,413
|
|
Loans collectively evaluated for impairment
|
|
|
3,607,077
|
|
|
1,502,718
|
|
|
5,109,795
|
|
Loans acquired with deteriorated credit quality
|
|
|
94,235
|
|
|
11,553
|
|
|
105,788
|
|
Total
|
|
$
|
3,824,483
|
|
$
|
1,521,513
|
|
$
|
5,345,996
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the allowance for loan loss activity as well as balances of allowance for loan losses and loans based on impairment methodology by portfolio segment for the year ended December 31, 2013. 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
|
|
$
|
24,809
|
|
$
|
10,107
|
|
$
|
34,916
|
|
Recoveries credited to allowance
|
|
|
1,496
|
|
|
1,285
|
|
|
2,781
|
|
Loans charged off
|
|
|
(8,534)
|
|
|
(5,084)
|
|
|
(13,618)
|
|
Provision charged to operations
|
|
|
2,137
|
|
|
3,919
|
|
|
6,056
|
|
Balance, end of period
|
|
$
|
19,908
|
|
$
|
10,227
|
|
$
|
30,135
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, ALL:
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
1,152
|
|
$
|
811
|
|
$
|
1,963
|
|
Loans collectively evaluated for impairment
|
|
|
18,756
|
|
|
9,416
|
|
|
28,172
|
|
Loans acquired with deteriorated credit quality
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Total
|
|
$
|
19,908
|
|
$
|
10,227
|
|
$
|
30,135
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, Loans:
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
101,894
|
|
$
|
7,105
|
|
$
|
108,999
|
|
Loans collectively evaluated for impairment
|
|
|
2,059,079
|
|
|
867,668
|
|
|
2,926,747
|
|
Loans acquired with deteriorated credit quality
|
|
|
2,732
|
|
|
890
|
|
|
3,622
|
|
Total
|
|
$
|
2,163,705
|
|
$
|
875,663
|
|
$
|
3,039,368
|
|
|
|
|
|
|
|
|
|
|
|
The Company uses the past due status and delinquency 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 0 through 9. A general description of the characteristics of the risk grades follows:
|
·
|
|
Risk rated 0 loans have little or no risk and are generally secured by general obligation municipal credits;
|
|
·
|
|
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 safety;
|
|
·
|
|
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 the recorded investment in all loans, excluding PCI loans, in the commercial portfolio by class with their related risk rating current as of December 31, 2015 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0-3
|
|
4
|
|
5
|
|
6
|
|
7
|
|
8
|
|
Total
|
|
Commercial Construction
|
$
|
43,656
|
|
$
|
409,249
|
|
$
|
21,725
|
|
$
|
6,497
|
|
$
|
2,237
|
|
$
|
-
|
|
$
|
483,364
|
|
Commercial Real Estate - Owner Occupied
|
|
213,547
|
|
|
587,432
|
|
|
13,642
|
|
|
7,214
|
|
|
8,931
|
|
|
1,932
|
|
|
832,698
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
493,723
|
|
|
1,075,433
|
|
|
14,606
|
|
|
10,223
|
|
|
9,492
|
|
|
-
|
|
|
1,603,477
|
|
Raw Land and Lots
|
|
15,728
|
|
|
127,427
|
|
|
7,526
|
|
|
15,689
|
|
|
24,771
|
|
|
-
|
|
|
191,141
|
|
Single Family Investment Real Estate
|
|
55,812
|
|
|
340,708
|
|
|
7,061
|
|
|
7,362
|
|
|
4,175
|
|
|
-
|
|
|
415,118
|
|
Commercial and Industrial
|
|
180,478
|
|
|
262,377
|
|
|
13,943
|
|
|
5,435
|
|
|
3,430
|
|
|
99
|
|
|
465,762
|
|
Other Commercial
|
|
44,403
|
|
|
42,738
|
|
|
2,923
|
|
|
432
|
|
|
652
|
|
|
-
|
|
|
91,148
|
|
Total
|
$
|
1,047,347
|
|
$
|
2,845,364
|
|
$
|
81,426
|
|
$
|
52,852
|
|
$
|
53,688
|
|
$
|
2,031
|
|
$
|
4,082,708
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the recorded investment in all loans, excluding PCI loans, in the commercial portfolio 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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the recorded investment in only PCI loans in the commercial portfolio by class with their related risk rating and credit quality indicator information current as of December 31, 2015 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
5
|
|
6
|
|
7
|
|
8
|
|
Total
|
|
Commercial Construction
|
$
|
-
|
|
$
|
-
|
|
$
|
61
|
|
$
|
1,343
|
|
$
|
-
|
|
$
|
1,404
|
|
Commercial Real Estate - Owner Occupied
|
|
5,260
|
|
|
1,633
|
|
|
13,896
|
|
|
6,599
|
|
|
-
|
|
|
27,388
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
4,798
|
|
|
5,893
|
|
|
3,187
|
|
|
1,250
|
|
|
-
|
|
|
15,128
|
|
Raw Land and Lots
|
|
2,059
|
|
|
277
|
|
|
1,439
|
|
|
749
|
|
|
-
|
|
|
4,524
|
|
Single Family Investment Real Estate
|
|
4,868
|
|
|
1,629
|
|
|
3,821
|
|
|
4,053
|
|
|
-
|
|
|
14,371
|
|
Commercial and Industrial
|
|
144
|
|
|
48
|
|
|
321
|
|
|
1,317
|
|
|
21
|
|
|
1,851
|
|
Other Commercial
|
|
83
|
|
|
-
|
|
|
489
|
|
|
172
|
|
|
-
|
|
|
744
|
|
Total
|
$
|
17,212
|
|
$
|
9,480
|
|
$
|
23,214
|
|
$
|
15,483
|
|
$
|
21
|
|
$
|
65,410
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the recorded investment in only PCI loans in the commercial portfolio 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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 following shows changes in the accretable yield for loans accounted for under ASC 310-30 for the periods presented (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
For the year ended
|
|
|
December 31,
|
|
|
2015
|
|
2014
|
|
Balance at beginning of period
|
$
|
28,956
|
|
|
$
|
2,980
|
|
|
Additions
|
|
-
|
|
|
|
34,653
|
|
|
Accretion
|
|
(6,084)
|
|
|
|
(7,192)
|
|
|
Reclass of nonaccretable difference due to improvement in expected cash flows
|
|
3,886
|
|
|
|
1,873
|
|
|
Other, net (1)
|
|
(4,619)
|
|
|
|
(3,358)
|
|
|
Balance at end of period
|
$
|
22,139
|
|
|
$
|
28,956
|
|
|
|
|
|
|
|
|
|
|
|
(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 year.
|
|
|
The carrying value of the Company’s PCI loan portfolio, accounted for under ASC 310-30, totaled $73.7 million at December 31, 2015 and $105.8 million at December 31, 2014. The outstanding balance of the Company’s PCI loan portfolio totaled $90.3 million at December 31, 2015 and $126.3 million at December 31, 2014. Loans in the Company’s acquired performing loan portfolio, accounted for under ASC 310-20, totaled $1.4 billion and $1.8 billion at December 31, 2015 and 2014, respectively; the remaining discount on these loans totaled $20.8 million and $24.3 million, respectively.
|