Loans | NOTE 6: Loans The following table sets forth information concerning the loan portfolio by collateral types as of the dates indicated. June 30, 2018 December 31, 2017 Loans excluding PCI loans Real estate loans Residential $ 1,527,490 $ 1,025,303 Commercial 3,712,072 2,546,143 Land, development and construction 464,565 235,816 Total real estate 5,704,127 3,807,262 Commercial 1,000,406 693,501 Consumer and other loans 160,444 107,480 Loans before unearned fees and deferred cost 6,864,977 4,608,243 Net unearned fees and costs 893 820 Total loans excluding PCI loans 6,865,870 4,609,063 PCI loans (note 1) Real estate loans Residential 64,574 59,975 Commercial 98,389 92,791 Land, development and construction 6,885 6,656 Total real estate 169,848 159,422 Commercial 3,807 4,444 Consumer and other loans 295 292 Total PCI loans 173,950 164,158 Total loans 7,039,820 4,773,221 Allowance for loan losses for loans that are not PCI loans (37,209 ) (32,530 ) Allowance for loan losses for PCI loans (275 ) (295 ) Total loans, net of allowance for loan losses $ 7,002,336 $ 4,740,396 N ote 1: Purchased credit impaired (“PCI”) loans are being accounted for pursuant to ASC Topic 310-30. The table below set forth the activity in the allowance for loan losses for the periods presented. Allowance for loan losses for loans that are not PCI loans Allowance for loan losses on PCI loans Total Three months ended June 30, 2018 Balance at beginning of period $ 34,154 $ 275 $ 34,429 Loans charged-off (589 ) — (589 ) Recoveries of loans previously charged-off 711 — 711 Net recoveries 122 — 122 Provision for loan losses 2,933 — 2,933 Balance at end of period $ 37,209 $ 275 $ 37,484 Three months ended June 30, 2017 Balance at beginning of period $ 27,521 $ 298 $ 27,819 Loans charged-off (348 ) — (348 ) Recoveries of loans previously charged-off 697 65 762 Net recoveries 349 65 414 Provision for loan losses 1,899 — 1,899 Balance at end of period $ 29,769 $ 363 $ 30,132 Allowance for loan losses for loans that are not PCI loans Allowance for loan losses on PCI loans Total Six months ended June 30, 2018 Balance at beginning of period $ 32,530 $ 295 $ 32,825 Loans charged-off (992 ) — (992 ) Recoveries of loans previously charged-off 1,343 75 1,418 Net recoveries 351 75 426 Provision for loan losses 4,328 (95 ) 4,233 Balance at end of period $ 37,209 275 $ 37,484 Six months ended June 30, 2017 Balance at beginning of period $ 26,569 $ 472 $ 27,041 Loans charged-off (1,250 ) — (1,250 ) Recoveries of loans previously charged-off 1,382 65 1,447 Net recoveries 132 65 197 Provision for loan losses 3,068 (174 ) 2,894 Balance at end of period $ 29,769 $ 363 $ 30,132 The following tables present the activity in the allowance for loan losses by portfolio segment for the periods presented. Real Estate Loans Residential Commercial Land, develop., constr. Comm. & industrial Consumer & other Total Allowance for loan losses for loans that are not PCI loans: Three months ended June 30, 2018 Beginning of the period $ 5,747 $ 20,975 $ 1,294 $ 4,501 $ 1,637 $ 34,154 Charge-offs — — — (221 ) (368 ) (589 ) Recoveries 364 169 1 56 121 711 Provision for loan losses (264 ) 777 334 1,076 1,010 2,933 Balance at end of period $ 5,847 $ 21,921 $ 1,629 $ 5,412 $ 2,400 $ 37,209 Three months ended June 30, 2017 Beginning of the period $ 5,763 $ 15,613 $ 1,063 $ 3,544 $ 1,538 $ 27,521 Charge-offs (56 ) (50 ) — (9 ) (233 ) $ (348 ) Recoveries 310 27 206 119 35 $ 697 Provision for loan losses 117 1,648 (94 ) (64 ) 292 $ 1,899 Balance at end of period $ 6,134 $ 17,238 $ 1,175 $ 3,590 $ 1,632 $ 29,769 Real Estate Loans Residential Commercial Land, develop., constr. Comm. & industrial Consumer & other Total Allowance for loan losses for loans that are PCI loans: Three months ended June 30, 2018 Beginning of the period $ — $ 59 $ 202 $ — $ 14 $ 275 Charge-offs — — — — — — Recoveries — — — — — — Provision for loan losses — — — — — — Balance at end of period $ — $ 59 $ 202 $ — $ 14 $ 275 Three months ended June 30, 2017 Beginning of the period $ 50 $ 58 $ 176 $ — $ 14 $ 298 Charge-offs — — — — — — Recoveries — 65 — — — 65 Provision for loan losses — — — — — — Balance at end of period $ 50 $ 123 $ 176 $ — $ 14 $ 363 Real Estate Loans Residential Commercial Land, develop., constr. Comm. & industrial Consumer & other Total Allowance for loan losses for loans that are not PCI loans: Six months ended June 30, 2018 Beginning of the period $ 6,003 $ 19,304 $ 1,179 $ 4,130 $ 1,914 $ 32,530 Charge-offs (136 ) — — (228 ) (628 ) (992 ) Recoveries 638 456 1 62 186 1,343 Provision for loan losses (658 ) 2,161 449 1,448 928 4,328 Balance at end of period $ 5,847 $ 21,921 $ 1,629 $ 5,412 $ 2,400 $ 37,209 Six months ended June 30, 2017 Beginning of the period $ 5,640 $ 14,713 $ 883 $ 3,785 $ 1,548 $ 26,569 Charge-offs (142 ) (64 ) — (537 ) (507 ) (1,250 ) Recoveries 526 306 243 172 135 1,382 Provision for loan losses 110 2,283 49 170 456 3,068 Balance at end of period $ 6,134 $ 17,238 $ 1,175 $ 3,590 $ 1,632 $ 29,769 Real Estate Loans Residential Commercial Land, develop., constr. Comm. & industrial Consumer & other Total Allowance for loan losses for loans that are PCI loans: Six months ended June 30, 2018 Beginning of the period $ — $ 59 $ 222 $ — $ 14 $ 295 Charge-offs — — — — — — Recoveries — — — 75 — 75 Provision for loan losses — — (20 ) (75 ) — (95 ) Balance at end of period $ — $ 59 $ 202 $ — $ 14 $ 275 Six months ended June 30, 2017 Beginning of the period $ 54 $ 92 $ 312 $ — $ 14 $ 472 Charge-offs — — — — — — Recoveries — 65 — — — 65 Provision for loan losses (4 ) (34 ) (136 ) — — (174 ) Balance at end of period $ 50 $ 123 $ 176 $ — $ 14 $ 363 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2018 and December 31, 2017. Accrued interest receivable and unearned loan fees and costs are not included in the recorded investment because they are not material. Real Estate Loans As of June 30, 2018 Residential Commercial Land, develop., constr. Comm. & industrial Consumer & other Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 471 $ — $ — $ 400 $ 5 $ 876 Collectively evaluated for impairment 5,376 21,921 1,629 5,012 2,395 36,333 Purchased credit impaired — 59 177 25 14 275 Total ending allowance balance $ 5,847 $ 21,980 $ 1,806 $ 5,437 $ 2,414 $ 37,484 Loans: Individually evaluated for impairment $ 7,600 $ 7,661 $ 952 $ 1,900 $ 166 $ 18,279 Collectively evaluated for impairment 1,519,890 3,704,411 463,613 998,506 160,278 6,846,698 Purchased credit impaired 64,574 98,389 6,885 3,807 295 173,950 Total ending loan balances $ 1,592,064 $ 3,810,461 $ 471,450 $ 1,004,213 $ 160,739 $ 7,038,927 Real Estate Loans As of December 31, 2017 Residential Commercial Land, develop., constr. Comm. & industrial Consumer & other Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 586 $ — $ 4 $ 206 $ 8 $ 804 Collectively evaluated for impairment 5,417 19,304 1,175 3,924 1,906 31,726 Purchased credit impaired — 59 222 — 14 295 Total ending allowance balance $ 6,003 $ 19,363 $ 1,401 $ 4,130 $ 1,928 $ 32,825 Loans: Individually evaluated for impairment $ 8,101 $ 8,218 $ 331 $ 3,497 $ 198 $ 20,345 Collectively evaluated for impairment 1,017,202 2,537,925 235,485 690,004 107,282 4,587,898 Purchased credit impaired 59,975 92,791 6,656 4,444 292 164,158 Total ending loan balance $ 1,085,278 $ 2,638,934 $ 242,472 $ 697,945 $ 107,772 $ 4,772,401 The table below summarizes impaired loan data for the periods presented. Jun. 30, 2018 Dec. 31, 2017 Performing troubled debt restructures (“TDRs”) $ 10,654 $ 12,081 Nonperforming TDRs (included in NPLs) 1,310 698 Total TDRs (included in impaired loans) 11,964 12,779 Impaired loans that are not TDRs 6,315 7,566 Total impaired loans $ 18,279 $ 20,345 In certain situations it is common to restructure or modify the terms of troubled loans (i.e. troubled debt restructure or “TDRs”). In those circumstances it may be beneficial to restructure the terms of a loan and work with the borrower for the benefit of both parties, versus forcing the property into foreclosure and having to dispose of it in a distressed sale. When the terms of a loan have been modified, usually the monthly payment and/or interest rate is reduced for generally twelve to twenty-four months. Material principal amounts on any loan modifications have not been forgiven to date. TDRs as of June 30, 2018 and December 31, 2017 quantified by loan type classified separately as accrual (performing loans) and non-accrual (non performing loans) are presented in the tables below. As of June 30, 2018 Accruing Non-Accrual Total Real estate loans: Residential $ 7,009 $ 591 $ 7,600 Commercial 2,795 694 3,489 Land, development, construction 73 — 73 Total real estate loans 9,877 1,285 11,162 Commercial 636 — 636 Consumer and other 141 25 166 Total TDRs $ 10,654 $ 1,310 $ 11,964 As of December 31, 2017 Accruing Non-Accrual Total Real estate loans: Residential $ 7,737 $ 364 $ 8,101 Commercial 3,286 306 3,592 Land, development, construction 332 — 332 Total real estate loans 11,355 670 12,025 Commercial 556 — 556 Consumer and other 170 28 198 Total TDRs $ 12,081 $ 698 $ 12,779 Our policy is to return non accrual TDR loans to accrual status when all the principal and interest amounts contractually due, pursuant to its modified terms, are brought current and future payments are reasonably assured. Our policy also considers the payment history of the borrower, but is not dependent upon a specific number of payments. The Company recorded a provision for loan loss expense of $19 and $28 and partial charge offs of $10 and $21 on the TDR loans described above during the three and six month periods ending June 30, 2018. The Company recorded a provision Loans are modified to minimize loan losses when we believe the modification will improve the borrower’s financial condition and ability to repay the loan. We typically do not forgive principal. We generally either reduce interest rates or decrease monthly payments for a temporary period of time and those reductions of cash flows are capitalized into the loan balance. We may also extend maturities, convert balloon loans to longer term amortizing loans, or vice versa, or change interest rates between variable and fixed rate. Each borrower and situation is unique and we try to accommodate the borrower and minimize the Company’s potential losses. Approximately 89% of our TDRs are current pursuant to their modified terms, and $1,310, or approximately 11% of our total TDRs are not performing pursuant to their modified terms. There does not appear to be any significant difference in success rates with one type of concession versus another. Loans modified as TDRs during the three and six month periods ending June 30, 2018 were $601 and $2,148. The Company recorded loan loss provision of $13 and $14 for loans modified during the three and six month periods ending June 30, 2018. Loans modified as TDRs during the three and six month periods ending June 30, 2017 were $637 and $706. The Company recorded a loan loss provision of $6 and $6 for loans modified during the three and six month periods ending June 30, 2017. The following table presents loans by class modified and for which there was a payment default within twelve months following the modification during the periods ending June 30, 2018 and 2017. Period ending Period ending June 30, 2018 June 30, 2017 Number Recorded Number Recorded of loans investment of loans investment Residential 1 $ 51 1 $ 74 Commercial real estate 1 120 2 628 Land, development, construction — — — — Commercial and Industrial — — — — Consumer and other — — — — Total 2 $ 171 3 $ 702 The Company recorded a provision for loan loss expense of $3 and $5 and partial charge offs of $3 and $5 on TDR loans that subsequently defaulted as described above during the three and six month periods ending June 30, 2018. The Company recorded a provision for loan loss expense of $6 and $6 and partial charge offs of $6 and $6 on TDR loans that subsequently defaulted as described above during the three and six month period ending June 30, 2017, respectively. The following tables present loans individually evaluated for impairment by class of loans as of June 30, 2018 and December 31, 2017, excluding purchased credit impaired loans accounted for pursuant to ASC Topic 310-30. The recorded investment is less than the unpaid principal balance due to partial charge-offs. As of June 30, 2018 Unpaid principal balance Recorded investment Allowance for loan losses allocated With no related allowance recorded: Residential real estate $ 4,868 $ 4,728 $ — Commercial real estate 8,199 7,661 — Land, development, construction 973 952 — Commercial and industrial 1,275 1,262 — Consumer, other 113 112 — With an allowance recorded: Residential real estate 3,019 2,872 471 Commercial real estate — — — Land, development, construction — — — Commercial and industrial 639 638 400 Consumer, other 73 54 5 Total $ 19,159 $ 18,279 $ 876 As of December 31, 2017 Unpaid principal balance Recorded investment Allowance for loan losses allocated With no related allowance recorded: Residential real estate $ 4,945 $ 4,818 $ — Commercial real estate 8,973 8,218 — Land, development, construction 260 210 — Commercial and industrial 3,374 2,968 — Consumer, other 142 127 — With an allowance recorded: Residential real estate 3,426 3,283 586 Commercial real estate — — — Land, development, construction 140 121 4 Commercial and industrial 531 529 206 Consumer, other 78 71 8 Total $ 21,869 $ 20,345 $ 804 Three months ended June 30, 2018 Average of impaired loans Interest income recognized during impairment Cash basis interest income recognized Real estate loans: Residential $ 7,882 $ 82 $ — Commercial 7,986 35 — Land, development, construction 574 1 — Total real estate loans 16,442 118 — Commercial and industrial 2,227 9 — Consumer and other loans 179 2 — Total $ 18,848 $ 129 $ — Six months ended June 30, 2018 Average of impaired loans Interest income recognized during impairment Cash basis interest income recognized Real estate loans: Residential $ 8,007 $ 159 $ — Commercial 8,124 48 — Land, development, construction 420 4 — Total real estate loans 16,551 211 — Commercial and industrial 2,624 14 — Consumer and other loans 187 4 — Total $ 19,362 $ 229 $ — Three months ended June 30, 2017 Average of impaired loans Interest income recognized during impairment Cash basis interest income recognized Real estate loans: Residential $ 7,808 $ 76 $ — Commercial 8,824 34 — Land, development, construction 350 5 — Total real estate loans 16,982 115 — Commercial and industrial 1,620 7 — Consumer and other loans 246 3 — Total $ 18,848 $ 125 $ — Six months ended June 30, 2017 Average of impaired loans Interest income recognized during impairment Cash basis interest income recognized Real estate loans: Residential $ 7,885 $ 137 $ — Commercial 8,867 69 — Land, development, construction 527 8 — Total real estate loans 17,279 214 — Commercial and industrial 1,623 15 — Consumer and other loans 237 5 — Total $ 19,139 $ 234 $ — Nonperforming loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans, excluding purchased credit impaired loans accounted for pursuant to ASC Topic 310-30. Nonperforming loans were as follows: Jun. 30, 2018 Dec. 31, 2017 Non accrual loans $ 23,071 $ 17,288 Loans past due over 90 days and still accruing interest — — Total non performing loans $ 23,071 $ 17,288 The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days still on accrual by class of loans as of June 30, 2018 and December 31, 2017, excluding purchased credit impaired loans: As of June 30, 2018 Nonaccrual Loans past due over 90 days still accruing Residential real estate $ 8,472 $ — Commercial real estate 9,144 — Land, development, construction 1,805 — Commercial 2,681 — Consumer, other 969 — Total $ 23,071 $ — As of December 31, 2017 Nonaccrual Loans past due over 90 days still accruing Residential real estate $ 7,107 $ — Commercial real estate 6,549 — Land, development, construction 138 — Commercial 3,121 — Consumer, other 373 — Total $ 17,288 $ — The following table presents the aging of the recorded investment in past due loans as of June 30, 2018 and December 31, 2017, excluding purchased credit impaired loans: Accruing Loans Total 30 - 59 days past due 60 - 89 days past due Greater than 90 days past due Total Past Due Loans Not Past Due Nonaccrual Loans As of June 30, 2018 Residential real estate $ 1,527,490 $ 3,962 $ 4,066 $ — $ 8,028 $ 1,510,990 $ 8,472 Commercial real estate 3,712,072 8,934 3,153 — 12,087 3,690,841 9,144 Land/dev/construction 464,565 427 671 — 1,098 461,662 1,805 Commercial 1,000,406 2,676 290 — 2,966 994,759 2,681 Consumer 160,444 634 305 — 939 158,536 969 $ 6,864,977 $ 16,633 $ 8,485 $ — $ 25,118 $ 6,816,788 $ 23,071 Accruing Loans Total 30 - 59 days past due 60 - 89 days past due Greater than 90 days past due Total Past Due Loans Not Past Due Nonaccrual Loans As of December 31, 2017 Residential real estate $ 1,025,303 $ 3,568 $ 1,821 $ — $ 5,389 $ 1,012,807 $ 7,107 Commercial real estate 2,546,143 1,158 2,272 — 3,430 2,536,164 6,549 Land/dev/construction 235,816 2,807 189 — 2,996 232,682 138 Commercial 693,501 568 763 — 1,331 689,049 3,121 Consumer 107,480 471 48 — 519 106,588 373 $ 4,608,243 $ 8,572 $ 5,093 $ — $ 13,665 $ 4,577,290 $ 17,288 Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on at least an annual basis. The Company uses the following definitions for risk ratings: Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. The following table presents the risk category of loans by class of loans based on the most recent analysis performed, excluding purchased credit impaired loans accounted for pursuant to ASC Topic 310-30, as of June 30, 2018 and December 31, 2017. The increase in loans categorized as special mention between the periods presented is due to the acquisitions of Sunshine and Harbor on January 1, 2018. As of June 30, 2018 Loan Category Pass Special Mention Substandard Doubtful Residential real estate $ 1,461,543 $ 44,958 $ 20,989 $ — Commercial real estate 3,517,864 159,296 34,912 — Land/dev/construction 424,427 33,033 7,105 — Commercial 974,024 21,928 4,454 — Consumer 159,394 296 754 — Total $ 6,537,252 $ 259,511 $ 68,214 $ — As of December 31, 2017 Loan Category Pass Special Mention Substandard Doubtful Residential real estate $ 987,472 $ 20,435 $ 17,396 $ — Commercial real estate 2,411,085 115,942 19,116 — Land/dev/construction 217,555 17,699 562 — Commercial 674,764 14,186 4,551 — Consumer 106,735 139 606 — Total $ 4,397,611 $ 168,401 $ 42,231 $ — The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For residential and consumer loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in residential and consumer loans, excluding purchased credit impaired loans, based on payment activity as of June 30, 2018 and December 31, 2017: As of June 30, 2018 Residential Consumer Performing $ 1,519,018 $ 159,475 Nonperforming 8,472 969 Total $ 1,527,490 $ 160,444 As of December 31, 2017 Residential Consumer Performing $ 1,018,196 $ 107,107 Nonperforming 7,107 373 Total $ 1,025,303 $ 107,480 Purchased Credit Impaired (“PCI”) loans: Income is recognized on PCI loans pursuant to ASC Topic 310-30. A portion of the fair value discount has been ascribed as an accretable yield that is accreted into interest income over the estimated remaining life of the loans. The remaining non-accretable difference represents cash flows not expected to be collected. The table below summarizes the total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of the loans as of June 30, 2018 and December 31, 2017. Contractually required principal and interest payments have been adjusted for estimated prepayments. Jun. 30, 2018 Dec. 31, 2017 Contractually required principal and interest $ 285,576 $ 248,283 Non-accretable difference (44,166 ) (13,183 ) Cash flows expected to be collected 241,410 235,100 Accretable yield (67,460 ) (70,942 ) Carrying value of acquired loans 173,950 164,158 Allowance for loan losses (275 ) (295 ) Carrying value less allowance for loan losses $ 173,675 $ 163,863 The Company adjusted its estimates of future expected losses, cash flows and renewal assumptions during the current quarter. These adjustments resulted in an increase in expected cash flows and accretable yield, and a decrease in the non-accretable difference. The Company reclassified $2,187, $2,274, $3,914 and $6,078 from non-accretable difference to accretable yield during the three and six month periods ending June 30, 2018 and 2017 to reflect its adjusted estimates of future expected cash flows. The table below summarizes the changes in total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of the loans during the three and six month periods ending June 30, 2018 and 2017. Activity during the Effect of income all other three month period ending June 30, 2018 Mar. 31, 2018 acquisitions accretion adjustments Jun. 30, 2018 Contractually required principal and interest $ 315,277 $ — $ — $ (29,701 ) $ 285,576 Non-accretable difference (50,237 ) — — 6,071 (44,166 ) Cash flows expected to be collected 265,040 — — (23,630 ) 241,410 Accretable yield (71,857 ) — 11,096 (6,699 ) (67,460 ) Carry value of acquired loans $ 193,183 $ — $ 11,096 $ (30,329 ) $ 173,950 Activity during the Effect of income all other six month period ending June 30, 2018 Dec. 31, 2017 acquisitions accretion adjustments Jun. 30, 2018 Contractually required principal and interest $ 248,283 $ 88,705 $ — $ (51,412 ) $ 285,576 Non-accretable difference (13,183 ) (38,164 ) — 7,181 (44,166 ) Cash flows expected to be collected 235,100 50,541 — (44,231 ) 241,410 Accretable yield (70,942 ) (6,278 ) 18,814 (9,054 ) (67,460 ) Carry value of acquired loans $ 164,158 $ 44,263 $ 18,814 $ (53,285 ) $ 173,950 Activity during the Effect of income all other three month period ending June 30, 2017 Mar. 31, 2017 acquisitions accretion adjustments Jun. 30, 2017 Contractually required principal and interest $ 275,938 $ 20,729 $ — $ (16,553 ) $ 280,114 Non-accretable difference (10,426 ) (6,347 ) — 2,726 (14,047 ) Cash flows expected to be collected 265,512 14,382 — (13,827 ) 266,067 Accretable yield (89,454 ) (3,266 ) 8,559 (2,542 ) (86,703 ) Carry value of acquired loans $ 176,058 $ 11,116 $ 8,559 $ (16,369 ) $ 179,364 Activity during the Effect of income all other six month period ending June 30, 2017 Dec. 31, 2016 acquisitions accretion adjustments Jun. 30, 2017 Contractually required principal and interest $ 297,821 $ 20,729 $ — $ (38,436 ) $ 280,114 Non-accretable difference (18,372 ) (6,347 ) — 10,672 (14,047 ) Cash flows expected to be collected 279,449 14,382 — (27,764 ) 266,067 Accretable yield (93,525 ) (3,266 ) 17,084 (6,996 ) (86,703 ) Carry value of acquired loans $ 185,924 $ 11,116 $ 17,084 $ (34,760 ) $ 179,364 |