Quarterly report pursuant to Section 13 or 15(d)

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

v2.4.0.8
LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)
9 Months Ended
Sep. 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 September 30, 2014 and December 31, 2013 (dollars in thousands):

 

 

 

 

 

 

 

 

September 30,

 

December 31,

 

2014

 

2013

Commercial:

 

 

 

 

 

Commercial Construction

$

303,576 

 

$

213,675 

Commercial Real Estate - Owner Occupied

 

856,615 

 

 

500,764 

Commercial Real Estate - Non-Owner Occupied

 

1,423,093 

 

 

755,905 

Raw Land and Lots

 

210,557 

 

 

187,529 

Single Family Investment Real Estate

 

407,972 

 

 

237,640 

Commercial and Industrial

 

380,613 

 

 

215,702 

Other Commercial

 

79,356 

 

 

52,490 

Consumer:

 

 

 

 

 

Mortgage

 

489,076 

 

 

237,414 

Consumer Construction

 

76,991 

 

 

48,984 

Indirect Auto

 

194,633 

 

 

174,843 

Indirect Marine

 

40,347 

 

 

38,633 

HELOCs

 

496,145 

 

 

281,579 

Credit Card

 

23,736 

 

 

23,211 

Other Consumer

 

188,293 

 

 

70,999 

       Total

$

5,171,003 

 

$

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 September 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

$

 -

 

$

 -

 

$

 -

 

$

4,455 

 

$

672 

 

$

298,449 

 

$

303,576 

Commercial Real Estate - Owner Occupied

 

4,401 

 

 

1,153 

 

 

784 

 

 

27,710 

 

 

676 

 

 

821,891 

 

 

856,615 

Commercial Real Estate - Non-Owner Occupied

 

903 

 

 

168 

 

 

5,347 

 

 

38,831 

 

 

1,145 

 

 

1,376,699 

 

 

1,423,093 

Raw Land and Lots

 

356 

 

 

 -

 

 

121 

 

 

8,804 

 

 

5,074 

 

 

196,202 

 

 

210,557 

Single Family Investment Real Estate

 

1,208 

 

 

976 

 

 

100 

 

 

19,337 

 

 

4,202 

 

 

382,149 

 

 

407,972 

Commercial and Industrial

 

1,346 

 

 

257 

 

 

473 

 

 

4,642 

 

 

3,005 

 

 

370,890 

 

 

380,613 

Other Commercial

 

366 

 

 

 -

 

 

2,271 

 

 

2,242 

 

 

62 

 

 

74,415 

 

 

79,356 

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage

 

16,436 

 

 

4,260 

 

 

3,903 

 

 

9,367 

 

 

4,346 

 

 

450,764 

 

 

489,076 

Consumer Construction

 

592 

 

 

198 

 

 

821 

 

 

534 

 

 

 -

 

 

74,846 

 

 

76,991 

Indirect Auto

 

1,333 

 

 

280 

 

 

231 

 

 

 -

 

 

 -

 

 

192,789 

 

 

194,633 

Indirect Marine

 

56 

 

 

 -

 

 

 -

 

 

 -

 

 

226 

 

 

40,065 

 

 

40,347 

HELOCs

 

4,281 

 

 

1,034 

 

 

648 

 

 

2,121 

 

 

510 

 

 

487,551 

 

 

496,145 

Credit Card

 

198 

 

 

116 

 

 

214 

 

 

 -

 

 

 -

 

 

23,208 

 

 

23,736 

Other Consumer

 

1,534 

 

 

838 

 

 

1,205 

 

 

1,700 

 

 

361 

 

 

182,655 

 

 

188,293 

Total

$

33,010 

 

$

9,280 

 

$

16,118 

 

$

119,743 

 

$

20,279 

 

$

4,972,573 

 

$

5,171,003 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

 

 

 

 

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 

 

 

 

 

 -

 

 

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 September 30, 2014 (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

30-89 Days Past Due

 

Greater than 90 Days

 

Current

 

Total

Commercial:

 

 

 

 

 

 

 

 

 

 

 

Commercial Construction

$

382 

 

$

698 

 

$

3,375 

 

$

4,455 

Commercial Real Estate - Owner Occupied

 

1,218 

 

 

989 

 

 

25,503 

 

 

27,710 

Commercial Real Estate - Non-Owner Occupied

 

2,531 

 

 

1,776 

 

 

34,524 

 

 

38,831 

Raw Land and Lots

 

663 

 

 

 -

 

 

8,141 

 

 

8,804 

Single Family Investment Real Estate

 

1,903 

 

 

2,745 

 

 

14,689 

 

 

19,337 

Commercial and Industrial

 

592 

 

 

277 

 

 

3,773 

 

 

4,642 

Other Commercial

 

514 

 

 

791 

 

 

937 

 

 

2,242 

Consumer:

 

 

 

 

 

 

 

 

 

 

 

Mortgage

 

3,342 

 

 

2,884 

 

 

3,141 

 

 

9,367 

Consumer Construction

 

 -

 

 

534 

 

 

 -

 

 

534 

HELOCs

 

399 

 

 

625 

 

 

1,097 

 

 

2,121 

Other Consumer

 

185 

 

 

174 

 

 

1,341 

 

 

1,700 

Total

$

11,729 

 

$

11,493 

 

$

96,521 

 

$

119,743 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 -

 

 

 -

 

 

 

 

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 September 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

$

6,289 

 

$

6,390 

 

$

 -

 

$

6,392 

 

$

163 

Commercial Real Estate - Owner Occupied

 

9,721 

 

 

10,046 

 

 

 -

 

 

10,227 

 

 

213 

Commercial Real Estate - Non-Owner Occupied

 

22,966 

 

 

23,066 

 

 

 -

 

 

23,158 

 

 

839 

Raw Land and Lots

 

45,652 

 

 

48,404 

 

 

 -

 

 

57,544 

 

 

1,889 

Single Family Investment Real Estate

 

2,975 

 

 

3,396 

 

 

 -

 

 

3,555 

 

 

106 

Commercial and Industrial

 

2,781 

 

 

5,881 

 

 

 -

 

 

6,203 

 

 

Other Commercial

 

962 

 

 

966 

 

 

 -

 

 

990 

 

 

43 

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage

 

2,459 

 

 

2,490 

 

 

 -

 

 

2,502 

 

 

19 

Indirect Auto

 

 -

 

 

11 

 

 

 -

 

 

13 

 

 

 -

Indirect Marine

 

90 

 

 

191 

 

 

 -

 

 

191 

 

 

 -

HELOCs

 

678 

 

 

822 

 

 

 -

 

 

980 

 

 

Other Consumer

 

89 

 

 

207 

 

 

 -

 

 

209 

 

 

 -

Total impaired loans without a specific allowance

$

94,662 

 

$

101,870 

 

$

 -

 

$

111,964 

 

$

3,288 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans with a specific allowance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial Construction

$

383 

 

$

383 

 

$

201 

 

$

353 

 

$

Commercial Real Estate - Owner Occupied

 

8,113 

 

 

8,317 

 

 

761 

 

 

9,398 

 

 

356 

Commercial Real Estate - Non-Owner Occupied

 

10,701 

 

 

10,685 

 

 

506 

 

 

11,037 

 

 

406 

Raw Land and Lots

 

3,759 

 

 

3,789 

 

 

487 

 

 

4,426 

 

 

71 

Single Family Investment Real Estate

 

7,773 

 

 

9,234 

 

 

733 

 

 

8,904 

 

 

171 

Commercial and Industrial

 

4,463 

 

 

4,768 

 

 

456 

 

 

5,012 

 

 

171 

Other Commercial

 

432 

 

 

449 

 

 

39 

 

 

480 

 

 

22 

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage

 

3,984 

 

 

4,064 

 

 

740 

 

 

4,095 

 

 

50 

Consumer Construction

 

376 

 

 

376 

 

 

34 

 

 

377 

 

 

14 

Indirect Marine

 

332 

 

 

536 

 

 

14 

 

 

540 

 

 

12 

HELOCs

 

580 

 

 

635 

 

 

13 

 

 

649 

 

 

14 

Other Consumer

 

451 

 

 

467 

 

 

121 

 

 

474 

 

 

Total impaired loans with a specific allowance

$

41,347 

 

$

43,703 

 

$

4,105 

 

$

45,745 

 

$

1,302 

Total impaired loans

$

136,009 

 

$

145,573 

 

$

4,105 

 

$

157,709 

 

$

4,590 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

 

$

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 

 

 

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 September 30, 2014 and December 31, 2013 (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2014

 

December 31, 2013

 

No. of Loans

 

Recorded Investment

 

Outstanding Commitment

 

No. of Loans

 

Recorded Investment

 

Outstanding Commitment

Performing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial Construction

 

$

690 

 

$

 -

 

 

$

684 

 

$

 -

Commercial Real Estate - Owner Occupied

 

 

690 

 

 

 -

 

 

 

2,278 

 

 

 -

Commercial Real Estate - Non-Owner Occupied

 

 

3,918 

 

 

 -

 

 

 

3,771 

 

 

 -

Raw Land and Lots

11 

 

 

16,084 

 

 

 -

 

15 

 

 

20,741 

 

 

 -

Single Family Investment Real Estate

 

 

1,892 

 

 

 -

 

13 

 

 

3,497 

 

 

 -

Commercial and Industrial

 

 

1,075 

 

 

123 

 

 

 

1,125 

 

 

 -

Other Commercial

 

 

207 

 

 

 -

 

 -

 

 

 -

 

 

 -

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage

 

 

1,587 

 

 

 -

 

10 

 

 

2,318 

 

 

 -

Other Consumer

 

 

100 

 

 

 -

 

 

 

106 

 

 

 -

Total performing

48 

 

$

26,243 

 

$

123 

 

59 

 

$

34,520 

 

$

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonperforming

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial Construction

 

$

253 

 

$

 -

 

 

$

947 

 

$

 -

Commercial Real Estate - Owner Occupied

 

 

157 

 

 

 -

 

 

 

283 

 

 

 -

Raw Land and Lots

 

 

937 

 

 

 -

 

 

 

3,973 

 

 

 -

Single Family Investment Real Estate

 -

 

 

 -

 

 

 -

 

 

 

50 

 

 

 -

Commercial and Industrial

 

 

486 

 

 

 -

 

 

 

1,195 

 

 

 -

Other Commercial

 

 

62 

 

 

 -

 

 -

 

 

 -

 

 

 -

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage

 

 

774 

 

 

 -

 

 

 

794 

 

 

 -

Other Consumer

 

 

59 

 

 

 -

 

 

 

62 

 

 

 -

Total nonperforming

13 

 

$

2,728 

 

$

 -

 

20 

 

$

7,304 

 

$

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total performing and nonperforming

61 

 

$

28,971 

 

$

123 

 

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 nine months ended September 30, 2014 (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Nine months ended

 

September 30, 2014

 

September 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:

 

 

 

 

 

 

 

 

 

Commercial Real Estate - Non-Owner Occupied

 

$

989 

 

 

$

989 

Single Family Investment Real Estate

 -

 

 

 -

 

 

 

110 

Commercial and Industrial

 -

 

 

 -

 

 

 

33 

Other Commercial

 -

 

 

 -

 

 

 

269 

Total loan term extended at a market rate

 

$

989 

 

 

$

1,401 

 

 

 

 

 

 

 

 

 

 

Total

 

$

989 

 

 

$

1,401 

 

 

 

 

 

 

 

 

 

 

 

The following table shows, by class and modification type, TDRs that occurred during the three and nine months ended September 30, 2013 (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Nine months ended

 

September 30, 2013

 

September 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

 -

 

$

 -

 

 

$

43 

Consumer:

 

 

 

 

 

 

 

 

 

Mortgage

 

 

139 

 

 

 

738 

       Total interest only at market rate of interest

 

$

139 

 

 

$

781 

 

 

 

 

 

 

 

 

 

 

Term modification, at a market rate

 

 

 

 

 

 

 

 

 

Commercial:

 

 

 

 

 

 

 

 

 

Commercial Construction

 -

 

$

 -

 

 

$

545 

Commercial Real Estate - Owner Occupied

 

 

167 

 

 

 

1,093 

Commercial Real Estate - Non-Owner Occupied

 -

 

 

 -

 

 

 

749 

Raw Land and Lots

 -

 

 

 -

 

 

 

382 

Single Family Investment Real Estate

 -

 

 

 -

 

 

 

2,499 

Commercial and Industrial

 -

 

 

 -

 

 

 

613 

Consumer:

 

 

 

 

 

 

 

 

 

Mortgage

 -

 

 

 -

 

 

 

686 

Total loan term extended at a market rate

 

$

167 

 

21 

 

$

6,567 

 

 

 

 

 

 

 

 

 

 

Term modification, below market rate

 

 

 

 

 

 

 

 

 

Commercial:

 

 

 

 

 

 

 

 

 

Commercial Real Estate - Owner Occupied

 -

 

$

 -

 

 

$

149 

Commercial and Industrial

 -

 

 

 -

 

 

 

Consumer:

 

 

 

 

 

 

 

 

 

Mortgage

 -

 

 

 -

 

 

 

154 

Total loan term extended at a below market rate

 -

 

$

 -

 

 

$

311 

Total

 

$

306 

 

27 

 

$

7,659 

 

 

 

 

 

 

 

 

 

 

 

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 nine months ended September 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

 

 

1,999 

 

 

866 

 

 

 -

 

 

2,865 

    Loans charged off

 

 

(1,991)

 

 

(2,200)

 

 

 -

 

 

(4,191)

    Provision charged to operations

 

 

1,455 

 

 

1,793 

 

 

52 

 

 

3,300 

 

 

$

21,319 

 

$

10,686 

 

$

104 

 

$

32,109 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending Balance, ALL:

 

 

 

 

 

 

 

 

 

 

 

 

Loans individually evaluated for impairment

 

$

3,183 

 

$

922 

 

$

 -

 

$

4,105 

Loans collectively evaluated for impairment

 

 

18,136 

 

 

9,764 

 

 

104 

 

 

28,004 

Loans acquired with deteriorated credit quality

 

 

 -

 

 

 -

 

 

 -

 

 

 -

    Total

 

$

21,319 

 

$

10,686 

 

$

104 

 

$

32,109 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending Balance, Loans:

 

 

 

 

 

 

 

 

 

 

 

 

Loans individually evaluated for impairment

 

$

125,310 

 

$

8,855 

 

$

 -

 

$

134,165 

Loans collectively evaluated for impairment

 

 

3,430,451 

 

 

1,486,644 

 

 

 -

 

 

4,917,095 

Loans acquired with deteriorated credit quality

 

 

106,021 

 

 

13,722 

 

 

 -

 

 

119,743 

    Total

 

$

3,661,782 

 

$

1,509,221 

 

$

 -

 

$

5,171,003 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 nine months ended September 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

 

 

1,051 

 

 

841 

 

 

 -

 

 

1,892 

    Loans charged off

 

 

(4,775)

 

 

(3,006)

 

 

 -

 

 

(7,781)

    Provision charged to operations

 

 

3,200 

 

 

1,741 

 

 

(91)

 

 

4,850 

Balance, end of period

 

$

24,297 

 

$

9,683 

 

$

(103)

 

$

33,877 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending Balance, ALL:

 

 

 

 

 

 

 

 

 

 

 

 

Loans individually evaluated for impairment

 

$

5,607 

 

$

1,454 

 

$

 -

 

$

7,061 

Loans collectively evaluated for impairment

 

 

18,690 

 

 

8,229 

 

 

(103)

 

 

26,816 

Loans acquired with deteriorated credit quality

 

 

 -

 

 

 -

 

 

 -

 

 

 -

    Total

 

$

24,297 

 

$

9,683 

 

$

(103)

 

$

33,877 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending Balance, Loans:

 

 

 

 

 

 

 

 

 

 

 

 

Loans individually evaluated for impairment

 

$

107,566 

 

$

7,730 

 

$

 -

 

$

115,296 

Loans collectively evaluated for impairment

 

 

2,014,220 

 

 

868,779 

 

 

 -

 

 

2,882,999 

Loans acquired with deteriorated credit quality

 

 

3,031 

 

 

920 

 

 

 -

 

 

3,951 

    Total

 

$

2,124,817 

 

$

877,429 

 

$

 -

 

$

3,002,246 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 September 30, 2014 (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-3

 

4

 

5

 

6

 

7

 

8

 

Total

Commercial Construction

$

20,850 

 

$

250,160 

 

$

13,214 

 

$

11,597 

 

$

3,300 

 

$

 -

 

$

299,121 

Commercial Real Estate - Owner Occupied

 

174,759 

 

 

609,379 

 

 

16,544 

 

 

18,255 

 

 

9,968 

 

 

 -

 

 

828,905 

Commercial Real Estate - Non-Owner Occupied

 

294,645 

 

 

1,004,064 

 

 

40,097 

 

 

13,246 

 

 

32,210 

 

 

 -

 

 

1,384,262 

Raw Land and Lots

 

12,356 

 

 

124,968 

 

 

14,568 

 

 

3,797 

 

 

46,064 

 

 

 -

 

 

201,753 

Single Family Investment Real Estate

 

62,225 

 

 

299,539 

 

 

9,874 

 

 

7,175 

 

 

9,822 

 

 

 -

 

 

388,635 

Commercial and Industrial

 

131,104 

 

 

225,795 

 

 

6,811 

 

 

5,194 

 

 

7,067 

 

 

 -

 

 

375,971 

Other Commercial

 

33,174 

 

 

34,284 

 

 

7,037 

 

 

1,224 

 

 

1,395 

 

 

 -

 

 

77,114 

Total

$

729,113 

 

$

2,548,189 

 

$

108,145 

 

$

60,488 

 

$

109,826 

 

$

 -

 

$

3,555,761 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 September 30, 2014 (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4

 

5

 

6

 

7

 

8

 

Total

Commercial Construction

$

 -

 

$

 -

 

$

3,375 

 

$

609 

 

$

471 

 

$

4,455 

Commercial Real Estate - Owner Occupied

 

530 

 

 

5,938 

 

 

7,375 

 

 

13,867 

 

 

 -

 

 

27,710 

Commercial Real Estate - Non-Owner Occupied

 

1,654 

 

 

295 

 

 

16,148 

 

 

20,734 

 

 

 -

 

 

38,831 

Raw Land and Lots

 

1,414 

 

 

1,465 

 

 

2,464 

 

 

3,461 

 

 

 -

 

 

8,804 

Single Family Investment Real Estate

 

2,757 

 

 

873 

 

 

6,689 

 

 

9,018 

 

 

 -

 

 

19,337 

Commercial and Industrial

 

478 

 

 

 -

 

 

1,193 

 

 

2,931 

 

 

40 

 

 

4,642 

Other Commercial

 

 -

 

 

 -

 

 

282 

 

 

1,960 

 

 

 -

 

 

2,242 

Total

$

6,833 

 

$

8,571 

 

$

37,526 

 

$

52,580 

 

$

511 

 

$

106,021 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 Nine Months Ended

 

For the Nine Months Ended

 

September 30, 2014

 

September 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

 

(5,681)

 

 

 -

 

 

 -

 

 

 -

Charge-offs

 

(472)

 

 

 -

 

 

(54)

 

 

(96)

Transfers to OREO

 

 -

 

 

(1,006)

 

 

 -

 

 

(201)

Payments received, net

 

 -

 

 

(28,327)

 

 

 -

 

 

(317)

Other, net

 

(1,678)

 

 

 -

 

 

 -

 

 

 -

Balance at end of period

$

29,802 

 

$

119,743 

 

$

3,093 

 

$

3,951