|
LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)
|
6 Months Ended |
|
Jun. 30, 2014
|
| 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 unearned income, and consist of the following at June 30, 2014 and December 31, 2013 (dollars in thousands):
|
|
|
|
|
|
|
|
|
June 30,
|
|
December 31,
|
|
|
2014
|
|
2013
|
|
Commercial:
|
|
|
|
|
|
|
Commercial Construction
|
$
|
295,503
|
|
$
|
213,675
|
|
Commercial Real Estate - Owner Occupied
|
|
870,742
|
|
|
500,764
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
1,455,369
|
|
|
755,905
|
|
Raw Land and Lots
|
|
212,475
|
|
|
187,529
|
|
Single Family Investment Real Estate
|
|
397,186
|
|
|
237,640
|
|
Commercial and Industrial
|
|
390,682
|
|
|
215,702
|
|
Other Commercial
|
|
80,337
|
|
|
52,490
|
|
Consumer:
|
|
|
|
|
|
|
Mortgage
|
|
505,004
|
|
|
237,414
|
|
Consumer Construction
|
|
75,815
|
|
|
48,984
|
|
Indirect Auto
|
|
185,319
|
|
|
174,843
|
|
Indirect Marine
|
|
40,189
|
|
|
38,633
|
|
HELOCs
|
|
498,280
|
|
|
281,579
|
|
Credit Card
|
|
23,432
|
|
|
23,211
|
|
Other Consumer
|
|
202,736
|
|
|
70,999
|
|
Total
|
$
|
5,233,069
|
|
$
|
3,039,368
|
|
| 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, 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-59 Days Past Due
|
|
60-89 Days Past Due
|
|
Greater Than 90 Days and still Accruing
|
|
PCI (net of credit mark)
|
|
Nonaccrual
|
|
Current
|
|
Total Loans
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
$
|
5,446
|
|
$
|
1,065
|
|
$
|
288,992
|
|
$
|
295,503
|
|
Commercial Real Estate - Owner Occupied
|
|
1,684
|
|
|
1,436
|
|
|
161
|
|
|
31,619
|
|
|
682
|
|
|
835,160
|
|
|
870,742
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
1,379
|
|
|
1,160
|
|
|
45
|
|
|
41,412
|
|
|
169
|
|
|
1,411,204
|
|
|
1,455,369
|
|
Raw Land and Lots
|
|
346
|
|
|
43
|
|
|
44
|
|
|
9,453
|
|
|
5,921
|
|
|
196,668
|
|
|
212,475
|
|
Single Family Investment Real Estate
|
|
742
|
|
|
343
|
|
|
77
|
|
|
19,661
|
|
|
5,737
|
|
|
370,626
|
|
|
397,186
|
|
Commercial and Industrial
|
|
661
|
|
|
321
|
|
|
322
|
|
|
4,944
|
|
|
3,794
|
|
|
380,640
|
|
|
390,682
|
|
Other Commercial
|
|
706
|
|
|
66
|
|
|
-
|
|
|
2,358
|
|
|
121
|
|
|
77,086
|
|
|
80,337
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
13,837
|
|
|
3,043
|
|
|
3,861
|
|
|
10,974
|
|
|
4,360
|
|
|
468,929
|
|
|
505,004
|
|
Consumer Construction
|
|
208
|
|
|
-
|
|
|
-
|
|
|
533
|
|
|
-
|
|
|
75,074
|
|
|
75,815
|
|
Indirect Auto
|
|
1,526
|
|
|
130
|
|
|
312
|
|
|
-
|
|
|
-
|
|
|
183,351
|
|
|
185,319
|
|
Indirect Marine
|
|
155
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
327
|
|
|
39,707
|
|
|
40,189
|
|
HELOCs
|
|
4,293
|
|
|
1,066
|
|
|
1,026
|
|
|
2,847
|
|
|
557
|
|
|
488,491
|
|
|
498,280
|
|
Credit Card
|
|
180
|
|
|
55
|
|
|
182
|
|
|
-
|
|
|
-
|
|
|
23,015
|
|
|
23,432
|
|
Other Consumer
|
|
2,424
|
|
|
567
|
|
|
840
|
|
|
1,860
|
|
|
366
|
|
|
196,679
|
|
|
202,736
|
|
Total
|
$
|
28,141
|
|
$
|
8,230
|
|
$
|
6,870
|
|
$
|
131,107
|
|
$
|
23,099
|
|
$
|
5,035,622
|
|
$
|
5,233,069
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the aging of the Company’s loan portfolio, by class, at December 31, 2013 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-59 Days Past Due
|
|
60-89 Days Past Due
|
|
Greater Than 90 Days and still Accruing
|
|
PCI (net of credit mark)
|
|
Nonaccrual
|
|
Current
|
|
Total Loans
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
$
|
1,596
|
|
$
|
212,079
|
|
$
|
213,675
|
|
Commercial Real Estate - Owner Occupied
|
|
514
|
|
|
-
|
|
|
258
|
|
|
-
|
|
|
2,037
|
|
|
497,955
|
|
|
500,764
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
185
|
|
|
42
|
|
|
1,996
|
|
|
-
|
|
|
175
|
|
|
753,507
|
|
|
755,905
|
|
Raw Land and Lots
|
|
922
|
|
|
545
|
|
|
-
|
|
|
2,457
|
|
|
2,560
|
|
|
181,045
|
|
|
187,529
|
|
Single Family Investment Real Estate
|
|
1,783
|
|
|
277
|
|
|
563
|
|
|
275
|
|
|
1,689
|
|
|
233,053
|
|
|
237,640
|
|
Commercial and Industrial
|
|
348
|
|
|
152
|
|
|
220
|
|
|
-
|
|
|
3,848
|
|
|
211,134
|
|
|
215,702
|
|
Other Commercial
|
|
87
|
|
|
1
|
|
|
50
|
|
|
-
|
|
|
126
|
|
|
52,226
|
|
|
52,490
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
6,779
|
|
|
1,399
|
|
|
1,141
|
|
|
-
|
|
|
2,446
|
|
|
225,649
|
|
|
237,414
|
|
Consumer Construction
|
|
-
|
|
|
-
|
|
|
208
|
|
|
-
|
|
|
-
|
|
|
48,776
|
|
|
48,984
|
|
Indirect Auto
|
|
2,237
|
|
|
252
|
|
|
349
|
|
|
7
|
|
|
-
|
|
|
171,998
|
|
|
174,843
|
|
Indirect Marine
|
|
459
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
288
|
|
|
37,886
|
|
|
38,633
|
|
HELOCs
|
|
2,124
|
|
|
422
|
|
|
1,190
|
|
|
787
|
|
|
43
|
|
|
277,013
|
|
|
281,579
|
|
Credit Card
|
|
105
|
|
|
133
|
|
|
281
|
|
|
-
|
|
|
-
|
|
|
22,692
|
|
|
23,211
|
|
Other Consumer
|
|
888
|
|
|
124
|
|
|
490
|
|
|
96
|
|
|
227
|
|
|
69,174
|
|
|
70,999
|
|
Total
|
$
|
16,431
|
|
$
|
3,347
|
|
$
|
6,746
|
|
$
|
3,622
|
|
$
|
15,035
|
|
$
|
2,994,187
|
|
$
|
3,039,368
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Purchased Impaired Commercial and Consumer Loan Portfolios by Class |
The following table shows the PCI commercial and consumer loan portfolios, by class and their delinquency status, at June 30, 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-89 Days Past Due
|
|
Greater than 90 Days
|
|
Current
|
|
Total
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
72
|
|
$
|
692
|
|
$
|
4,682
|
|
$
|
5,446
|
|
Commercial Real Estate - Owner Occupied
|
|
1,694
|
|
|
984
|
|
|
28,941
|
|
|
31,619
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
4,079
|
|
|
2,404
|
|
|
34,929
|
|
|
41,412
|
|
Raw Land and Lots
|
|
478
|
|
|
158
|
|
|
8,817
|
|
|
9,453
|
|
Single Family Investment Real Estate
|
|
968
|
|
|
1,537
|
|
|
17,156
|
|
|
19,661
|
|
Commercial and Industrial
|
|
418
|
|
|
373
|
|
|
4,153
|
|
|
4,944
|
|
Other Commercial
|
|
434
|
|
|
772
|
|
|
1,152
|
|
|
2,358
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
3,475
|
|
|
4,061
|
|
|
3,438
|
|
|
10,974
|
|
Consumer Construction
|
|
-
|
|
|
533
|
|
|
-
|
|
|
533
|
|
HELOCs
|
|
285
|
|
|
767
|
|
|
1,795
|
|
|
2,847
|
|
Other Consumer
|
|
68
|
|
|
304
|
|
|
1,488
|
|
|
1,860
|
|
Total
|
$
|
11,971
|
|
$
|
12,585
|
|
$
|
106,551
|
|
$
|
131,107
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the PCI commercial and consumer loan portfolios, by class and their delinquency status, at December 31, 2013 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-89 Days Past Due
|
|
Greater than 90 Days
|
|
Current
|
|
Total
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Land and Lots
|
$
|
-
|
|
$
|
-
|
|
$
|
2,457
|
|
$
|
2,457
|
|
Single Family Investment Real Estate
|
|
-
|
|
|
-
|
|
|
275
|
|
|
275
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
Indirect Auto
|
|
-
|
|
|
-
|
|
|
7
|
|
|
7
|
|
HELOCs
|
|
-
|
|
|
31
|
|
|
756
|
|
|
787
|
|
Other Consumer
|
|
40
|
|
|
-
|
|
|
56
|
|
|
96
|
|
Total
|
$
|
40
|
|
$
|
31
|
|
$
|
3,551
|
|
$
|
3,622
|
|
| Impaired Loans by Class |
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 June 30, 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
|
$
|
5,777
|
|
$
|
5,893
|
|
$
|
-
|
|
$
|
6,106
|
|
$
|
117
|
|
Commercial Real Estate - Owner Occupied
|
|
3,844
|
|
|
3,867
|
|
|
-
|
|
|
3,877
|
|
|
99
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
21,230
|
|
|
21,325
|
|
|
-
|
|
|
21,586
|
|
|
483
|
|
Raw Land and Lots
|
|
48,231
|
|
|
50,969
|
|
|
-
|
|
|
59,498
|
|
|
1,307
|
|
Single Family Investment Real Estate
|
|
3,198
|
|
|
3,614
|
|
|
-
|
|
|
3,634
|
|
|
74
|
|
Commercial and Industrial
|
|
3,817
|
|
|
6,843
|
|
|
-
|
|
|
6,923
|
|
|
17
|
|
Other Commercial
|
|
711
|
|
|
796
|
|
|
-
|
|
|
808
|
|
|
20
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
4,213
|
|
|
4,293
|
|
|
-
|
|
|
4,305
|
|
|
13
|
|
Indirect Auto
|
|
-
|
|
|
13
|
|
|
-
|
|
|
15
|
|
|
-
|
|
HELOCs
|
|
1,287
|
|
|
1,928
|
|
|
-
|
|
|
1,898
|
|
|
4
|
|
Other Consumer
|
|
101
|
|
|
224
|
|
|
-
|
|
|
222
|
|
|
-
|
|
Total impaired loans without a specific allowance
|
$
|
92,409
|
|
$
|
99,765
|
|
$
|
-
|
|
$
|
108,872
|
|
$
|
2,134
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans with a specific allowance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
679
|
|
$
|
679
|
|
$
|
91
|
|
$
|
677
|
|
$
|
8
|
|
Commercial Real Estate - Owner Occupied
|
|
3,240
|
|
|
3,691
|
|
|
281
|
|
|
3,723
|
|
|
74
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
336
|
|
|
336
|
|
|
33
|
|
|
343
|
|
|
12
|
|
Raw Land and Lots
|
|
5,209
|
|
|
5,252
|
|
|
290
|
|
|
5,304
|
|
|
60
|
|
Single Family Investment Real Estate
|
|
7,830
|
|
|
8,076
|
|
|
1,023
|
|
|
8,115
|
|
|
86
|
|
Commercial and Industrial
|
|
2,798
|
|
|
3,077
|
|
|
393
|
|
|
3,186
|
|
|
48
|
|
Other Commercial
|
|
66
|
|
|
81
|
|
|
6
|
|
|
83
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
2,444
|
|
|
2,470
|
|
|
199
|
|
|
2,485
|
|
|
30
|
|
Indirect Marine
|
|
526
|
|
|
730
|
|
|
88
|
|
|
733
|
|
|
8
|
|
HELOCs
|
|
100
|
|
|
100
|
|
|
10
|
|
|
100
|
|
|
-
|
|
Other Consumer
|
|
276
|
|
|
276
|
|
|
102
|
|
|
279
|
|
|
5
|
|
Total impaired loans with a specific allowance
|
$
|
23,504
|
|
$
|
24,768
|
|
$
|
2,516
|
|
$
|
25,028
|
|
$
|
331
|
|
Total impaired loans
|
$
|
115,913
|
|
$
|
124,533
|
|
$
|
2,516
|
|
$
|
133,900
|
|
$
|
2,465
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the Company’s impaired loans, by class, at December 31, 2013 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recorded Investment
|
|
Unpaid Principal Balance
|
|
Related Allowance
|
|
YTD Average Investment
|
|
Interest Income Recognized
|
|
Loans without a specific allowance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
10,520
|
|
$
|
10,523
|
|
$
|
-
|
|
$
|
9,073
|
|
$
|
282
|
|
Commercial Real Estate - Owner Occupied
|
|
4,281
|
|
|
4,648
|
|
|
-
|
|
|
4,845
|
|
|
206
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
15,012
|
|
|
15,100
|
|
|
-
|
|
|
15,288
|
|
|
572
|
|
Raw Land and Lots
|
|
52,259
|
|
|
52,551
|
|
|
-
|
|
|
61,606
|
|
|
2,024
|
|
Single Family Investment Real Estate
|
|
5,520
|
|
|
6,021
|
|
|
-
|
|
|
6,396
|
|
|
261
|
|
Commercial and Industrial
|
|
4,035
|
|
|
6,835
|
|
|
-
|
|
|
7,083
|
|
|
195
|
|
Other Commercial
|
|
55
|
|
|
134
|
|
|
-
|
|
|
134
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
1,361
|
|
|
1,361
|
|
|
-
|
|
|
1,374
|
|
|
60
|
|
Indirect Auto
|
|
11
|
|
|
19
|
|
|
-
|
|
|
26
|
|
|
-
|
|
Indirect Marine
|
|
495
|
|
|
874
|
|
|
-
|
|
|
887
|
|
|
42
|
|
HELOCs
|
|
1,604
|
|
|
1,755
|
|
|
-
|
|
|
1,921
|
|
|
11
|
|
Other Consumer
|
|
162
|
|
|
211
|
|
|
-
|
|
|
214
|
|
|
-
|
|
Total impaired loans without a specific allowance
|
$
|
95,315
|
|
$
|
100,032
|
|
$
|
-
|
|
$
|
108,847
|
|
$
|
3,653
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans with a specific allowance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
$
|
357
|
|
$
|
692
|
|
$
|
135
|
|
$
|
1,136
|
|
$
|
9
|
|
Commercial Real Estate - Owner Occupied
|
|
3,797
|
|
|
3,937
|
|
|
284
|
|
|
4,000
|
|
|
181
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
549
|
|
|
597
|
|
|
76
|
|
|
616
|
|
|
40
|
|
Raw Land and Lots
|
|
1,875
|
|
|
1,905
|
|
|
83
|
|
|
1,985
|
|
|
101
|
|
Single Family Investment Real Estate
|
|
3,389
|
|
|
3,676
|
|
|
335
|
|
|
3,894
|
|
|
114
|
|
Commercial and Industrial
|
|
2,722
|
|
|
3,086
|
|
|
204
|
|
|
3,214
|
|
|
84
|
|
Other Commercial
|
|
255
|
|
|
269
|
|
|
35
|
|
|
254
|
|
|
6
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
|
4,041
|
|
|
4,147
|
|
|
660
|
|
|
4,183
|
|
|
123
|
|
Other Consumer
|
|
321
|
|
|
343
|
|
|
151
|
|
|
350
|
|
|
10
|
|
Total impaired loans with a specific allowance
|
$
|
17,306
|
|
$
|
18,652
|
|
$
|
1,963
|
|
$
|
19,632
|
|
$
|
668
|
|
Total impaired loans
|
$
|
112,621
|
|
$
|
118,684
|
|
$
|
1,963
|
|
$
|
128,479
|
|
$
|
4,321
|
|
| 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 in nonaccrual status, which are considered to be nonperforming, as of June 30, 2014 and December 31, 2013 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2014
|
|
December 31, 2013
|
|
|
No. of Loans
|
|
Recorded Investment
|
|
Outstanding Commitment
|
|
No. of Loans
|
|
Recorded Investment
|
|
Outstanding Commitment
|
|
Performing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
2
|
|
$
|
1,357
|
|
$
|
686
|
|
1
|
|
$
|
684
|
|
$
|
-
|
|
Commercial Real Estate - Owner Occupied
|
4
|
|
|
1,467
|
|
|
-
|
|
4
|
|
|
2,278
|
|
|
-
|
|
Commercial Real Estate - Non-Owner Occupied
|
4
|
|
|
3,125
|
|
|
112
|
|
6
|
|
|
3,771
|
|
|
-
|
|
Raw Land and Lots
|
13
|
|
|
20,026
|
|
|
5,721
|
|
15
|
|
|
20,741
|
|
|
-
|
|
Single Family Investment Real Estate
|
8
|
|
|
1,902
|
|
|
-
|
|
13
|
|
|
3,497
|
|
|
-
|
|
Commercial and Industrial
|
7
|
|
|
751
|
|
|
-
|
|
7
|
|
|
1,125
|
|
|
-
|
|
Other Commercial
|
1
|
|
|
221
|
|
|
-
|
|
-
|
|
|
-
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
8
|
|
|
1,609
|
|
|
-
|
|
10
|
|
|
2,318
|
|
|
-
|
|
Other Consumer
|
3
|
|
|
103
|
|
|
-
|
|
3
|
|
|
106
|
|
|
-
|
|
Total performing
|
50
|
|
$
|
30,561
|
|
$
|
6,519
|
|
59
|
|
$
|
34,520
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonperforming
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
2
|
|
$
|
518
|
|
$
|
-
|
|
3
|
|
$
|
947
|
|
$
|
-
|
|
Commercial Real Estate - Owner Occupied
|
2
|
|
|
161
|
|
|
-
|
|
3
|
|
|
283
|
|
|
-
|
|
Raw Land and Lots
|
1
|
|
|
937
|
|
|
-
|
|
2
|
|
|
3,973
|
|
|
-
|
|
Single Family Investment Real Estate
|
-
|
|
|
-
|
|
|
-
|
|
1
|
|
|
50
|
|
|
-
|
|
Commercial and Industrial
|
8
|
|
|
1,085
|
|
|
-
|
|
8
|
|
|
1,195
|
|
|
-
|
|
Other Commercial
|
1
|
|
|
66
|
|
|
-
|
|
-
|
|
|
-
|
|
|
-
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
2
|
|
|
783
|
|
|
-
|
|
2
|
|
|
794
|
|
|
-
|
|
Other Consumer
|
1
|
|
|
60
|
|
|
-
|
|
1
|
|
|
62
|
|
|
-
|
|
Total nonperforming
|
17
|
|
$
|
3,610
|
|
$
|
-
|
|
20
|
|
$
|
7,304
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total performing and nonperforming
|
67
|
|
$
|
34,171
|
|
$
|
6,519
|
|
79
|
|
$
|
41,824
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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, 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
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows, by class and modification type, TDRs that occurred during the three and six months ended June 30, 2013 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
|
|
June 30, 2013
|
|
June 30, 2013
|
|
|
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:
|
|
|
|
|
|
|
|
|
|
|
Raw Land and Lots
|
1
|
|
$
|
43
|
|
1
|
|
$
|
43
|
|
Single Family Investment Real Estate
|
-
|
|
|
-
|
|
1
|
|
|
210
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
-
|
|
|
-
|
|
1
|
|
|
603
|
|
Total interest only at market rate of interest
|
1
|
|
$
|
43
|
|
3
|
|
$
|
856
|
|
|
|
|
|
|
|
|
|
|
|
|
Term modification, at a market rate
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction
|
2
|
|
$
|
704
|
|
2
|
|
$
|
704
|
|
Commercial Real Estate - Owner Occupied
|
1
|
|
|
933
|
|
1
|
|
|
933
|
|
Commercial Real Estate - Non-Owner Occupied
|
1
|
|
|
753
|
|
1
|
|
|
753
|
|
Raw Land and Lots
|
3
|
|
|
386
|
|
3
|
|
|
386
|
|
Single Family Investment Real Estate
|
5
|
|
|
1,326
|
|
6
|
|
|
1,953
|
|
Commercial and Industrial
|
4
|
|
|
1,125
|
|
5
|
|
|
1,180
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
1
|
|
|
525
|
|
2
|
|
|
690
|
|
Total loan term extended at a market rate
|
17
|
|
$
|
5,752
|
|
20
|
|
$
|
6,599
|
|
|
|
|
|
|
|
|
|
|
|
|
Term modification, below market rate
|
|
|
|
|
|
|
|
|
|
|
Commercial:
|
|
|
|
|
|
|
|
|
|
|
Commercial Real Estate - Owner Occupied
|
-
|
|
$
|
-
|
|
1
|
|
$
|
206
|
|
Commercial and Industrial
|
-
|
|
|
-
|
|
1
|
|
|
9
|
|
Consumer:
|
|
|
|
|
|
|
|
|
|
|
Mortgage
|
1
|
|
|
155
|
|
1
|
|
|
155
|
|
Total loan term extended at a below market rate
|
1
|
|
$
|
155
|
|
3
|
|
$
|
370
|
|
Total
|
19
|
|
$
|
5,950
|
|
26
|
|
$
|
7,825
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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 credit losses, and loans based on impairment methodology by portfolio segment for the six months ended 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
|
|
Unallocated
|
|
Total
|
|
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, beginning of the year
|
|
$
|
19,856
|
|
$
|
10,227
|
|
$
|
52
|
|
$
|
30,135
|
|
Recoveries credited to allowance
|
|
|
1,599
|
|
|
572
|
|
|
-
|
|
|
2,171
|
|
Loans charged off
|
|
|
(1,068)
|
|
|
(1,359)
|
|
|
-
|
|
|
(2,427)
|
|
Provision charged to operations
|
|
|
294
|
|
|
1,296
|
|
|
(90)
|
|
|
1,500
|
|
Balance, end of period
|
|
$
|
20,681
|
|
$
|
10,736
|
|
$
|
(38)
|
|
$
|
31,379
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, ALL:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
2,117
|
|
$
|
399
|
|
$
|
-
|
|
$
|
2,516
|
|
Loans collectively evaluated for impairment
|
|
|
18,564
|
|
|
10,337
|
|
|
(38)
|
|
|
28,863
|
|
Loans acquired with deteriorated credit quality
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Total
|
|
$
|
20,681
|
|
$
|
10,736
|
|
$
|
(38)
|
|
$
|
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
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows the allowance for loan loss activity, balances for allowance for credit 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
|
|
Unallocated
|
|
Total
|
|
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, beginning of the year
|
|
$
|
24,821
|
|
$
|
10,107
|
|
$
|
(12)
|
|
$
|
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
|
|
|
2,073
|
|
|
3,919
|
|
|
64
|
|
|
6,056
|
|
Balance, end of period
|
|
$
|
19,856
|
|
$
|
10,227
|
|
$
|
52
|
|
$
|
30,135
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, ALL:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
1,152
|
|
$
|
811
|
|
$
|
-
|
|
$
|
1,963
|
|
Loans collectively evaluated for impairment
|
|
|
18,704
|
|
|
9,416
|
|
|
52
|
|
|
28,172
|
|
Loans acquired with deteriorated credit quality
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Total
|
|
$
|
19,856
|
|
$
|
10,227
|
|
$
|
52
|
|
$
|
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 following table shows the allowance for loan loss activity, balances for allowance for credit losses, and loans based on impairment methodology by portfolio segment for the six months ended June 30, 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
|
|
Unallocated
|
|
Total
|
|
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, beginning of the year
|
|
$
|
24,821
|
|
$
|
10,107
|
|
$
|
(12)
|
|
$
|
34,916
|
|
Recoveries credited to allowance
|
|
|
944
|
|
|
611
|
|
|
-
|
|
|
1,555
|
|
Loans charged off
|
|
|
(2,970)
|
|
|
(2,218)
|
|
|
-
|
|
|
(5,188)
|
|
Provision charged to operations
|
|
|
1,713
|
|
|
1,303
|
|
|
34
|
|
|
3,050
|
|
Balance, end of period
|
|
$
|
24,508
|
|
$
|
9,803
|
|
$
|
22
|
|
$
|
34,333
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, ALL:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
6,075
|
|
$
|
1,502
|
|
$
|
-
|
|
$
|
7,577
|
|
Loans collectively evaluated for impairment
|
|
|
18,426
|
|
|
8,301
|
|
|
22
|
|
|
26,749
|
|
Loans acquired with deteriorated credit quality
|
|
|
7
|
|
|
-
|
|
|
-
|
|
|
7
|
|
Total
|
|
$
|
24,508
|
|
$
|
9,803
|
|
$
|
22
|
|
$
|
34,333
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Balance, Loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans individually evaluated for impairment
|
|
$
|
120,659
|
|
$
|
9,140
|
|
$
|
-
|
|
$
|
129,799
|
|
Loans collectively evaluated for impairment
|
|
|
2,007,816
|
|
|
859,267
|
|
|
-
|
|
|
2,867,083
|
|
Loans acquired with deteriorated credit quality
|
|
|
3,039
|
|
|
934
|
|
|
-
|
|
|
3,973
|
|
Total
|
|
$
|
2,131,514
|
|
$
|
869,341
|
|
$
|
-
|
|
$
|
3,000,855
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loans Receivables Related Risk Rating Excluding Purchased Impaired Loans |
The following table shows all loans, excluding PCI loans, in the commercial portfolios by class with their related risk rating current as of June 30, 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-3
|
|
4
|
|
5
|
|
6
|
|
7
|
|
8
|
|
Total
|
|
Commercial Construction
|
$
|
17,940
|
|
$
|
243,431
|
|
$
|
11,967
|
|
$
|
13,592
|
|
$
|
3,127
|
|
$
|
-
|
|
$
|
290,057
|
|
Commercial Real Estate - Owner Occupied
|
|
166,893
|
|
|
633,295
|
|
|
13,738
|
|
|
19,447
|
|
|
5,750
|
|
|
-
|
|
|
839,123
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
283,010
|
|
|
1,058,033
|
|
|
30,891
|
|
|
21,288
|
|
|
20,735
|
|
|
-
|
|
|
1,413,957
|
|
Raw Land and Lots
|
|
11,191
|
|
|
116,476
|
|
|
21,565
|
|
|
6,394
|
|
|
47,396
|
|
|
-
|
|
|
203,022
|
|
Single Family Investment Real Estate
|
|
49,224
|
|
|
299,884
|
|
|
9,794
|
|
|
8,671
|
|
|
9,952
|
|
|
-
|
|
|
377,525
|
|
Commercial and Industrial
|
|
126,221
|
|
|
239,941
|
|
|
7,368
|
|
|
5,960
|
|
|
6,248
|
|
|
-
|
|
|
385,738
|
|
Other Commercial
|
|
31,599
|
|
|
36,203
|
|
|
6,845
|
|
|
2,556
|
|
|
776
|
|
|
-
|
|
|
77,979
|
|
Total
|
$
|
686,078
|
|
$
|
2,627,263
|
|
$
|
102,168
|
|
$
|
77,908
|
|
$
|
93,984
|
|
$
|
-
|
|
$
|
3,587,401
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows all loans, excluding PCI loans, in the commercial portfolios by class with their related risk rating current as of December 31, 2013 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-3
|
|
4
|
|
5
|
|
6
|
|
7
|
|
8
|
|
Total
|
|
Commercial Construction
|
$
|
24,399
|
|
$
|
148,251
|
|
$
|
20,370
|
|
$
|
13,772
|
|
$
|
6,883
|
|
$
|
-
|
|
$
|
213,675
|
|
Commercial Real Estate - Owner Occupied
|
|
149,632
|
|
|
324,394
|
|
|
10,017
|
|
|
10,926
|
|
|
5,795
|
|
|
-
|
|
|
500,764
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
224,702
|
|
|
453,279
|
|
|
21,953
|
|
|
46,084
|
|
|
9,887
|
|
|
-
|
|
|
755,905
|
|
Raw Land and Lots
|
|
8,648
|
|
|
98,927
|
|
|
14,132
|
|
|
16,439
|
|
|
46,926
|
|
|
-
|
|
|
185,072
|
|
Single Family Investment Real Estate
|
|
38,327
|
|
|
168,564
|
|
|
12,302
|
|
|
11,522
|
|
|
6,650
|
|
|
-
|
|
|
237,365
|
|
Commercial and Industrial
|
|
68,748
|
|
|
123,585
|
|
|
8,254
|
|
|
8,752
|
|
|
3,822
|
|
|
2,541
|
|
|
215,702
|
|
Other Commercial
|
|
18,593
|
|
|
23,160
|
|
|
8,529
|
|
|
1,897
|
|
|
311
|
|
|
-
|
|
|
52,490
|
|
Total
|
$
|
533,049
|
|
$
|
1,340,160
|
|
$
|
95,557
|
|
$
|
109,392
|
|
$
|
80,274
|
|
$
|
2,541
|
|
$
|
2,160,973
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loans Receivables Related Risk Rating Including Purchased Impaired Loans |
The following table shows only PCI loans in the commercial portfolios by class with their related risk rating and credit quality indicator information current as of June 30, 2014 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
5
|
|
6
|
|
7
|
|
8
|
|
Total
|
|
Commercial Construction
|
$
|
-
|
|
$
|
-
|
|
$
|
3,927
|
|
$
|
1,052
|
|
$
|
467
|
|
$
|
5,446
|
|
Commercial Real Estate - Owner Occupied
|
|
538
|
|
|
3,507
|
|
|
9,459
|
|
|
18,115
|
|
|
-
|
|
|
31,619
|
|
Commercial Real Estate - Non-Owner Occupied
|
|
695
|
|
|
1,125
|
|
|
15,236
|
|
|
24,356
|
|
|
-
|
|
|
41,412
|
|
Raw Land and Lots
|
|
1,435
|
|
|
2,156
|
|
|
2,092
|
|
|
3,770
|
|
|
-
|
|
|
9,453
|
|
Single Family Investment Real Estate
|
|
1,671
|
|
|
1,277
|
|
|
7,121
|
|
|
9,592
|
|
|
-
|
|
|
19,661
|
|
Commercial and Industrial
|
|
495
|
|
|
-
|
|
|
1,296
|
|
|
3,051
|
|
|
102
|
|
|
4,944
|
|
Other Commercial
|
|
-
|
|
|
-
|
|
|
368
|
|
|
1,990
|
|
|
-
|
|
|
2,358
|
|
Total
|
$
|
4,834
|
|
$
|
8,065
|
|
$
|
39,499
|
|
$
|
61,926
|
|
$
|
569
|
|
$
|
114,893
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table shows only PCI loans in the commercial portfolios by class with their related risk rating and credit quality indicator information current as of December 31, 2013 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
5
|
|
6
|
|
7
|
|
8
|
|
Total
|
|
Raw Land and Lots
|
$
|
-
|
|
$
|
653
|
|
$
|
-
|
|
$
|
1,804
|
|
$
|
-
|
|
$
|
2,457
|
|
Single Family Investment Real Estate
|
|
275
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
275
|
|
Total
|
$
|
275
|
|
$
|
653
|
|
$
|
-
|
|
$
|
1,804
|
|
$
|
-
|
|
$
|
2,732
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Acquired Loan Portfolio and Accretable Yield |
The following shows changes in the Company’s PCI loan portfolio and accretable yield for loans accounted for under ASC 310-30 for the periods presented (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months Ended
|
|
For the Six Months Ended
|
|
|
June 30, 2014
|
|
June 30, 2013
|
|
|
Accretable Yield
|
|
Carrying Amount of Loans
|
|
Accretable Yield
|
|
Carrying Amount of Loans
|
|
Balance at beginning of period
|
$
|
2,980
|
|
$
|
3,622
|
|
$
|
3,147
|
|
$
|
4,565
|
|
Additions
|
|
34,653
|
|
|
145,454
|
|
|
-
|
|
|
-
|
|
Accretion
|
|
(3,677)
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Charge-offs
|
|
-
|
|
|
-
|
|
|
(54)
|
|
|
(96)
|
|
Transfers to OREO
|
|
-
|
|
|
(294)
|
|
|
-
|
|
|
(201)
|
|
Payments received, net
|
|
-
|
|
|
(17,675)
|
|
|
-
|
|
|
(295)
|
|
Other, net
|
|
(1,365)
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Balance at end of period
|
$
|
32,591
|
|
$
|
131,107
|
|
$
|
3,093
|
|
$
|
3,973
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