Atlantic Union Bankshares Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Loans and Allowance for Loan Losses (Tables)

Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2012

Loans and Allowance for Loan Losses [Abstract]

Loans stated at face amount, net of unearned income


	June 30,		December 31,
	2012		2011
Commercial:
Commercial Construction	$	190,141	$	185,359
Commercial Real Estate—Owner Occupied		478,804		452,407
Commercial Real Estate—Non-Owner Occupied		694,980		655,083
Raw Land and Lots		208,460		214,284
Single Family Investment Real Estate		210,151		192,437
Commercial and Industrial		210,517		212,268
Other Commercial		42,494		44,403
Consumer:
Mortgage		221,063		219,646
Consumer Construction		25,778		20,757
Indirect Auto		158,813		162,708
Indirect Marine		33,729		39,819
HELOCs		280,030		277,101
Credit Card		19,717		19,006
Other Consumer		113,113		123,305

Total	$	2,887,790	$	2,818,583

Summary of aging of the loan portfolio, by class


	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days and still Accruing		Purchased Impaired (net of credit mark)		Nonaccrual		Current		Total Loans
Commercial:
Commercial Construction	$	—	$	—	$	—	$	—	$	9,763	$	180,378	$	190,141
Commercial Real Estate—Owner Occupied		3,151		50		200		1,234		5,194		468,975		478,804
Commercial Real Estate—Non-Owner Occupied		895		1,721		636		—		517		691,211		694,980
Raw Land and Lots		57		—		153		3,753		12,139		192,358		208,460
Single Family Investment Real Estate		1,059		735		673		372		3,476		203,836		210,151
Commercial and Industrial		510		254		140		382		4,715		204,516		210,517
Other Commercial		2		262		522		—		231		41,477		42,494
Consumer:
Mortgage		4,575		2,078		4,497		—		1,171		208,742		221,063
Consumer Construction		408		—		—		—		201		25,169		25,778
Indirect Auto		1,905		236		251		27		3		156,391		158,813
Indirect Marine		200		191		594		—		26		32,718		33,729
HELOCs		1,528		667		1,788		875		900		274,272		280,030
Credit Card		129		114		182		—		—		19,292		19,717
Other Consumer		1,402		316		1,132		132		835		109,296		113,113

Total	$	15,821	$	6,624	$	10,768	$	6,775	$	39,171	$	2,808,631	$	2,887,790


	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days and still Accruing		Purchased Impaired (net of credit mark)		Nonaccrual		Current		Total Loans
Commercial:
Commercial Construction	$	—	$	—	$	490	$	—	$	10,276	$	174,593	$	185,359
Commercial Real Estate—Owner Occupied		520		—		2,482		1,292		5,962		442,151		452,407
Commercial Real Estate—Non-Owner Occupied		190		64		2,887		1,133		2,031		648,778		655,083
Raw Land and Lots		94		1,124		—		5,623		13,322		194,121		214,284
Single Family Investment Real Estate		779		70		3,637		388		5,048		182,515		192,437
Commercial and Industrial		601		185		3,369		392		5,297		202,424		212,268
Other Commercial		—		25		—		—		238		44,140		44,403
Consumer:
Mortgage		6,748		412		3,804		—		240		208,442		219,646
Consumer Construction		—		—		—		—		207		20,550		20,757
Indirect Auto		2,653		416		443		40		7		159,149		162,708
Indirect Marine		189		795		—		—		544		38,291		39,819
HELOCs		1,678		547		820		865		885		272,306		277,101
Credit Card		245		184		323		—		—		18,254		19,006
Other Consumer		1,421		443		1,657		164		777		118,843		123,305

Total	$	15,118	$	4,265	$	19,912	$	9,897	$	44,834	$	2,724,557	$	2,818,583

Purchased impaired commercial and consumer loan portfolios, by class


	30-89 Days Past Due		Greater than 90 Days		Current		Total
Commercial:
Commercial Real Estate—Owner Occupied	$	—	$	1,167	$	67	$	1,234
Raw Land and Lots		—		91		3,662		3,753
Single Family Investment Real Estate		—		—		372		372
Commercial and Industrial		—		382		—		382
Consumer:
Indirect Auto		3		8		16		27
HELOCs		—		55		820		875
Other Consumer		—		46		86		132

Total	$	3	$	1,749	$	5,023	$	6,775


	30-89 Days Past Due		Greater than 90 Days		Current		Total
Commercial:
Commercial Real Estate—Owner Occupied	$	206	$	50	$	1,036	$	1,292
Commercial Real Estate—Non-Owner Occupied		—		1,133		—		1,133
Raw Land and Lots		—		—		5,623		5,623
Single Family Investment Real Estate		—		—		388		388
Commercial and Industrial		—		302		90		392
Consumer:
Indirect Auto		6		11		23		40
HELOCs		19		32		814		865
Other Consumer		—		77		87		164

Total	$	231	$	1,605	$	8,061	$	9,897

Impaired loans individually evaluated for impairment, by class


	Recorded Investment		Unpaid Principal Balance		Related Allowance		YTD Average Investment		Interest Income Recognized
Loans without a specific allowance
Commercial:
Commercial Construction	$	31,097	$	31,142	$	—	$	31,278	$	831
Commercial Real Estate—Owner Occupied		14,145		14,963		—		15,034		347
Commercial Real Estate—Non-Owner Occupied		29,659		29,730		—		29,977		813
Raw Land and Lots		39,400		39,461		—		40,166		710
Single Family Investment Real Estate		4,601		4,611		—		5,198		158
Commercial and Industrial		5,920		5,964		—		6,189		119
Other Commercial		1,046		1,046		—		1,194		34
Consumer:
Mortgage		2,600		2,600		—		3,199		57
Indirect Auto		27		27		—		30		1
HELOCs		1,425		1,524		—		1,526		6
Other Consumer		904		936		—		948		15

Total impaired loans without a specific allowance	$	130,824	$	132,004	$	—	$	134,739	$	3,091

Loans with a specific allowance
Commercial:
Commercial Construction	$	13,399	$	13,834	$	1,378	$	13,873	$	108
Commercial Real Estate—Owner Occupied		6,641		6,807		1,861		6,855		57
Commercial Real Estate—Non-Owner Occupied		8,505		8,536		387		8,553		227
Raw Land and Lots		11,542		11,750		2,457		11,834		27
Single Family Investment Real Estate		5,250		5,552		1,174		5,617		55
Commercial and Industrial		11,455		12,104		3,393		12,068		187
Consumer:
Mortgage		473		473		59		473		—
Consumer Construction		201		225		80		226		—
HELOCs		754		811		550		1,017		—
Other Consumer		355		355		161		355		—

Total impaired loans with a specific allowance	$	58,575	$	60,447	$	11,500	$	60,871	$	661

Total loans individually evaluated for impairment	$	189,399	$	192,451	$	11,500	$	195,610	$	3,752


	Recorded Investment		Unpaid Principal Balance		Related Allowance		YTD Average Investment		Interest Income Recognized
Loans without a specific allowance
Commercial:
Commercial Construction	$	40,475	$	40,524	$	—	$	37,835	$	1,690
Commercial Real Estate—Owner Occupied		20,487		21,010		—		23,364		1,183
Commercial Real Estate—Non-Owner Occupied		37,799		37,855		—		38,084		2,002
Raw Land and Lots		46,791		46,890		—		47,808		1,306
Single Family Investment Real Estate		11,285		11,349		—		11,684		637
Commercial and Industrial		9,467		9,959		—		10,216		423
Other Commercial		1,257		1,257		—		1,269		75
Consumer:
Mortgage		1,202		1,202		—		1,225		70
HELOCs		349		349		—		350		11
Other Consumer		—		—		—		1		—

Total impaired loans without a specific allowance	$	169,112	$	170,395	$	—	$	171,836	$	7,397

Loans with a specific allowance
Commercial:
Commercial Construction	$	12,927	$	13,297	$	583	$	13,811	$	343
Commercial Real Estate—Owner Occupied		8,679		8,788		1,961		8,681		267
Commercial Real Estate—Non-Owner Occupied		8,858		8,879		1,069		9,010		322
Raw Land and Lots		22,188		22,429		991		24,553		973
Single Family Investment Real Estate		9,020		9,312		1,140		9,571		321
Commercial and Industrial		8,980		9,133		3,320		10,448		369
Other Commercial		150		150		3		153		10
Consumer:
Mortgage		535		535		11		536		32
Consumer Construction		207		226		86		228		—
Indirect Auto		71		71		—		93		5
Indirect Marine		544		547		263		548		9
HELOCs		785		825		587		1,034		—
Other Consumer		777		804		284		815		5

Total impaired loans with a specific allowance	$	73,721	$	74,996	$	10,298	$	79,481	$	2,656

Total loans individually evaluated for impairment	$	242,833	$	245,391	$	10,298	$	251,317	$	10,053

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


	June 30, 2012						December 31, 2011
	No. of Loans		Recorded Investment		Outstanding Commitment		No. of Loans		Recorded Investment		Outstanding Commitment
Performing
Commercial:
Commercial Construction		9	$	12,566	$	2,247		14	$	21,461	$	3,185
Commercial Real Estate—Owner Occupied		11		5,069		—		11		7,996		180
Commercial Real Estate—Non-Owner Occupied		10		16,303		—		16		21,777		13
Raw Land and Lots		15		27,477		251		15		32,450		1
Single Family Investment Real Estate		7		1,101		—		12		8,525		—
Commercial and Industrial		9		2,605		—		12		4,991		204
Other Commercial		2		302		—		4		864		—
Consumer:
Mortgage		7		1,699		—		1		507		—
Indirect Marine		1		283		—		—		—		—
Other Consumer		2		85		—		2		263		—

Total performing		73	$	67,490	$	2,498		87	$	98,834	$	3,583

Nonperforming
Commercial:
Commercial Construction		4	$	5,242	$	—		5	$	5,353	$	—
Commercial Real Estate—Owner Occupied		3		1,182		—		—		—		—
Commercial Real Estate—Non-Owner Occupied		1		212		—		2		292		—
Raw Land and Lots		3		3,861		—		6		4,342		—
Single Family Investment Real Estate		2		443		—		4		1,342		—
Commercial and Industrial		7		1,310		—		3		1,134		—
Consumer:
Mortgage		1		202		—		5		1,076		—
Indirect Marine		1		26		—		—		—		—
Other Consumer		1		202		—		1		265		—

Total nonperforming		23	$	12,680	$	—		26	$	13,804	$	—

Total performing and nonperforming		96	$	80,170	$	2,498		113	$	112,638	$	3,583

Schedule of TDR by class and modification type


	Three months ended June 30, 2012				Six months ended June 30, 2012
	No. of Loans		Recorded investment at period end		No. of Loans		Recorded investment at period end
Modified to interest only
Commercial:
Raw Land and Lots		—	$	—		3	$	327
Single Family Investment Real Estate		—		—		2		179
Consumer:
Indirect Marine		1		283		1		283

Total interest only at market rate of interest		1	$	283		6	$	789

Term modification, at a market rate
Commercial:
Commercial Real Estate—Owner Occupied		1	$	132		3	$	1,822
Raw Land and Lots		—		—		1		604
Commercial and Industrial		5		329		6		430
Consumer:
Mortgage		1		202		2		474
Other Consumer		2		85		3		287

Total loan term extended at a market rate		9	$	748		15	$	3,617

Term modification, below market rate
Commercial:
Commercial Real Estate—Owner Occupied		3	$	649		4	$	658

Total loan term extended at a below market rate		3	$	649		4	$	658

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

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

Total		15	$	4,070		27	$	7,454

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


	Commercial			Consumer			Unallocated		Total
Allowance for loan losses:
Balance, beginning of the year	$	27,891		$	11,498		$	81	$	39,470
Recoveries credited to allowance		127			564			—		691
Loans charged off		(2,950	)		(2,726	)		—		(5,676	)
Provision charged to operations		5,485			988			27		6,500

Balance, end of period	$	30,553		$	10,324		$	108	$	40,985

Ending balance: individually evaluated for impairment		10,429			850			—		11,279

Ending balance: collectively evaluated for impairment		19,903			9,474			108		29,485

Ending balance: loans acquired with deteriorated credit quality		221			—			—		221

Total	$	30,553		$	10,324		$	108	$	40,985

Loans:
Ending balance	$	2,035,547		$	852,243		$	—	$	2,887,790

Ending balance: individually evaluated for impairment		176,919			5,705			—		182,624

Ending balance: collectively evaluated for impairment		1,852,887			845,504			—		2,698,391

Ending balance: loans acquired with deteriorated credit quality		5,741			1,034			—		6,775

Total	$	2,035,547		$	852,243		$	—	$	2,887,790


	Commercial			Consumer			Unallocated			Total
Allowance for loan losses:
Balance, beginning of the year	$	28,255		$	10,189		$	(38	)	$	38,406
Recoveries credited to allowance		924			1,206			—			2,130
Loans charged off		(10,891	)		(6,975	)		—			(17,866	)
Provision charged to operations		9,603			7,078			119			16,800

Balance, end of period	$	27,891		$	11,498		$	81		$	39,470

Ending balance: individually evaluated for impairment		8,982			1,231			—			10,213

Ending balance: collectively evaluated for impairment		18,824			10,267			81			29,172

Ending balance: loans acquired with deteriorated credit quality		85			—			—			85

Total	$	27,891		$	11,498		$	81		$	39,470

Loans:
Ending balance	$	1,956,241		$	862,342		$	—		$	2,818,583

Ending balance: individually evaluated for impairment		229,535			3,401			—			232,936

Ending balance: collectively evaluated for impairment		1,717,878			857,872			—			2,575,750

Ending balance: loans acquired with deteriorated credit quality		8,828			1,069			—			9,897

Total	$	1,956,241		$	862,342		$	—		$	2,818,583

Loans receivables related risk rating excluding purchased impaired loans


	1-3		4		5		6		7		8		Total
Commercial Construction	$	15,558	$	90,320	$	12,194	$	34,210	$	37,749	$	110	$	190,141
Commercial Real Estate—Owner Occupied		104,138		317,703		20,366		17,309		18,054		—		477,570
Commercial Real Estate—Non-Owner Occupied		156,028		416,649		57,512		32,437		32,354		—		694,980
Raw Land and Lots		2,240		108,866		11,306		38,740		43,049		506		204,707
Single Family Investment Real Estate		33,761		139,779		12,154		13,322		10,024		739		209,779
Commercial and Industrial		41,186		122,147		19,607		8,729		18,302		164		210,135
Other Commercial		5,904		17,903		11,516		5,271		1,839		61		42,494

Total	$	358,815	$	1,213,367	$	144,655	$	150,018	$	161,371	$	1,580	$	2,029,806

The following table shows all loans, excluding purchased impaired loans, in the commercial portfolios by class with their related risk rating as of December 31, 2011. The risk rating information has been updated through December 31, 2011 (dollars in thousands):


	1-3		4		5		6		7		8		Total
Commercial Construction	$	10,099	$	84,299	$	6,079	$	36,650	$	48,232	$	—	$	185,359
Commercial Real Estate—Owner Occupied		88,430		296,825		17,604		21,158		26,389		709		451,115
Commercial Real Estate—Non-Owner Occupied		149,346		367,244		58,844		38,662		39,854		—		653,950
Raw Land and Lots		4,368		99,374		18,767		33,673		52,204		275		208,661
Single Family Investment Real Estate		32,741		116,570		11,928		14,358		16,452		—		192,049
Commercial and Industrial		35,120		123,872		22,079		11,559		19,066		180		211,876
Other Commercial		6,364		15,918		16,739		3,807		1,512		63		44,403

Total	$	326,468	$	1,104,102	$	152,040	$	159,867	$	203,709	$	1,227	$	1,947,413

Loans receivables related risk rating including purchased impaired loans


	6		7		8		Total
Commercial Real Estate—Owner Occupied	$	—	$	1,234	$	—	$	1,234
Raw Land and Lots		—		3,753		—		3,753
Single Family Investment Real Estate		355		17		—		372
Commercial and Industrial		—		88		294		382

Total	$	355	$	5,092	$	294	$	5,741

The following table shows only purchased impaired loans in the commercial portfolios by class with their related risk rating as of December 31, 2011. The credit quality indicator information has been updated through December 31, 2011 (dollars in thousands):


	6		7		8		Total
Commercial Real Estate—Owner Occupied	$	—	$	1,292	$	—	$	1,292
Commercial Real Estate—Non-Owner Occupied		—		1,133		—		1,133
Raw Land and Lots		—		5,623		—		5,623
Single Family Investment Real Estate		369		19		—		388
Commercial and Industrial		—		91		301		392

Total	$	369	$	8,158	$	301	$	8,828

Schedule of acquired loan portfolio and accretable yield


	For the Six Months Ended												For the Twelve Months Ended
	June 30, 2012												December 31, 2011
	Purchased Impaired						Purchased Nonimpaired						Purchased Impaired						Purchased Nonimpaired
	Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans			Accretable Yield			Carrying Amount of Loans
Balance at beginning of period	$	5,140		$	9,897		$	9,010		$	663,510		$	8,169		$	13,999		$	13,589		$	799,898
Additions		—			—			—			—			122			276			1,593			70,524
Accretion		(38	)		—			(2,166	)		—			(66	)		—			(6,172	)		—
Charged off		(1,373	)		(212	)		—			(1,032	)		(3,073	)		(1,329	)		—			(5,988	)
Transfers to OREO		—			(2,371	)		—			(2,766	)		(12	)		(174	)		—			(2,341	)
Payments received, net		—			(539	)		—			(127,264	)		—			(2,875	)		—			(198,583	)

Balance at end of period	$	3,729		$	6,775		$	6,844		$	532,448		$	5,140		$	9,897		$	9,010		$	663,510