Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 04, 2017 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | Ameris Bancorp | |
Entity Central Index Key | 351,569 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Trading Symbol | ABCB | |
Entity Common Stock, Shares Outstanding | 37,227,071 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 139,500 | $ 127,164 |
Federal funds sold and interest-bearing deposits in banks | 137,811 | 71,221 |
Investment securities available for sale, at fair value | 818,693 | 822,735 |
Other investments | 42,495 | 29,464 |
Loans held for sale, at fair value | 146,766 | 105,924 |
Loans | 4,230,228 | 3,626,821 |
Purchased loans | 950,499 | 1,069,191 |
Purchased loan pools | 490,114 | 568,314 |
Loans, net of unearned income | 5,670,841 | 5,264,326 |
Allowance for loan losses | (25,101) | (23,920) |
Loans, net | 5,645,740 | 5,240,406 |
Other real estate owned, net | 11,483 | 10,874 |
Purchased other real estate owned, net | 11,330 | 12,540 |
Total other real estate owned, net | 22,813 | 23,414 |
Premises and equipment, net | 121,108 | 121,217 |
Goodwill | 125,532 | 125,532 |
Other intangible assets, net | 15,378 | 17,428 |
Deferred income taxes, net | 41,124 | 40,776 |
Cash value of bank owned life insurance | 78,834 | 78,053 |
Other assets | 62,064 | 88,697 |
Total assets | 7,397,858 | 6,892,031 |
Liabilities | ||
Noninterest-bearing | 1,672,918 | 1,573,389 |
Interest-bearing | 4,120,479 | 4,001,774 |
Total deposits | 5,793,397 | 5,575,163 |
Securities sold under agreements to repurchase | 18,400 | 53,505 |
Other borrowings | 679,591 | 492,321 |
Subordinated deferrable interest debentures | 84,889 | 84,228 |
Other liabilities | 38,899 | 40,377 |
Total liabilities | 6,615,176 | 6,245,594 |
Commitments and Contingencies (Note 9) | ||
Shareholders’ Equity | ||
Preferred stock, stated value $1,000 (5,000,000 shares authorized; 0 shares issued and outstanding at June 30, 2017 and December 31, 2016) | 0 | 0 |
Common stock, par value $1 (100,000,000 shares authorized; 38,697,765 and 36,377,807 shares issued at June 30, 2017 and December 31, 2016, respectively) | 38,698 | 36,378 |
Capital surplus | 505,803 | 410,276 |
Retained earnings | 251,259 | 214,454 |
Accumulated other comprehensive income (loss), net of tax | 1,421 | (1,058) |
Treasury stock, at cost (1,474,861 shares and 1,456,333 shares at June 30, 2017 and December 31, 2016, respectively) | (14,499) | (13,613) |
Total shareholders’ equity | 782,682 | 646,437 |
Total liabilities and shareholders’ equity | $ 7,397,858 | $ 6,892,031 |
Consolidated Balance Sheets _Pa
Consolidated Balance Sheets [Parenthetical] - $ / shares | Jun. 30, 2017 | Dec. 31, 2016 |
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 1,000 | $ 1,000 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 1 | $ 1 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued | 38,697,765 | 36,377,807 |
Treasury Stock, Shares | 1,474,861 | 1,456,333 |
Consolidated Statements of Inco
Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest income | ||||
Interest and fees on loans | $ 65,464 | $ 54,164 | $ 126,985 | $ 103,355 |
Interest on taxable securities | 5,195 | 4,554 | 9,995 | 9,140 |
Interest on nontaxable securities | 401 | 454 | 817 | 900 |
Interest on deposits in other banks and federal funds sold | 351 | 168 | 664 | 504 |
Total interest income | 71,411 | 59,340 | 138,461 | 113,899 |
Interest expense | ||||
Interest on deposits | 4,580 | 2,915 | 8,343 | 5,656 |
Interest on other borrowings | 3,674 | 1,836 | 6,371 | 3,218 |
Total interest expense | 8,254 | 4,751 | 14,714 | 8,874 |
Net interest income | 63,157 | 54,589 | 123,747 | 105,025 |
Provision for loan losses | 2,205 | 889 | 4,041 | 1,570 |
Net interest income after provision for loan losses | 60,952 | 53,700 | 119,706 | 103,455 |
Noninterest income | ||||
Service charges on deposit accounts | 10,616 | 10,436 | 21,179 | 20,351 |
Mortgage banking activity | 13,943 | 14,142 | 25,158 | 24,353 |
Other service charges, commissions and fees | 729 | 967 | 1,438 | 2,078 |
Gain on sale of securities | 37 | 0 | 37 | 94 |
Other noninterest income | 2,864 | 2,834 | 6,083 | 5,789 |
Total noninterest income | 28,189 | 28,379 | 53,895 | 52,665 |
Noninterest expense | ||||
Salaries and employee benefits | 29,132 | 27,531 | 56,926 | 53,718 |
Occupancy and equipment expense | 6,146 | 6,371 | 12,023 | 12,071 |
Data processing and communications costs | 7,028 | 6,049 | 13,600 | 12,162 |
Credit resolution-related expenses | 599 | 1,764 | 1,532 | 3,563 |
Advertising and marketing expense | 1,259 | 854 | 2,365 | 1,659 |
Amortization of intangible assets | 1,013 | 1,319 | 2,049 | 2,339 |
Merger and conversion charges | 0 | 0 | 402 | 6,359 |
Other noninterest expenses | 10,562 | 8,471 | 19,935 | 16,088 |
Total noninterest expense | 55,739 | 52,359 | 108,832 | 107,959 |
Income before income tax expense | 33,402 | 29,720 | 64,769 | 48,161 |
Income tax expense | 10,315 | 9,671 | 20,529 | 15,795 |
Net income | 23,087 | 20,049 | 44,240 | 32,366 |
Other comprehensive income | ||||
Net unrealized holding gains arising during period on investment securities available for sale, net of tax expense of $1,487, $3,630, $1,382 and $5,641 | 2,760 | 6,742 | 2,566 | 10,476 |
Reclassification adjustment for gains on investment securities included in earnings, net of tax of $13, $0, $13 and $33 | (24) | 0 | (24) | (61) |
Unrealized gains (losses) on cash flow hedges arising during period, net of tax expense (benefit) of ($58), ($104), ($35) and ($435) | (106) | (193) | (63) | (808) |
Other comprehensive income | 2,630 | 6,549 | 2,479 | 9,607 |
Total Comprehensive income | $ 25,717 | $ 26,598 | $ 46,719 | $ 41,973 |
Basic earnings per common share | $ 0.62 | $ 0.58 | $ 1.21 | $ 0.96 |
Diluted earnings per common share | 0.62 | 0.57 | 1.20 | 0.95 |
Dividends declared per common share | $ 0.10 | $ 0.05 | $ 0.20 | $ 0.10 |
Weighted average common shares outstanding (in thousands) | ||||
Basic | 37,163 | 34,833 | 36,418 | 33,792 |
Diluted | 37,489 | 35,153 | 36,744 | 34,107 |
Consolidated Statements of Inc5
Consolidated Statements of Income and Comprehensive Income [Parenthetical] - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net unrealized holding gains arising during the period on investment securities available for sale, net of tax expense | $ 1,487 | $ 3,630 | $ 1,382 | $ 5,641 |
Reclassification adjustment for gains on investment securities included in earnings, net of tax | 13 | 0 | 13 | 33 |
Unrealized gains (losses) on cash flow hedge during the period, net of tax expense (benefit) | $ (58) | $ (104) | $ (35) | $ (435) |
Consolidated Statements of Shar
Consolidated Statements of Shareholders’ Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss), Net of Tax [Member] | Treasury Stock [Member] |
Balance at beginning of period at Dec. 31, 2015 | $ 33,625 | $ 337,349 | $ 152,820 | $ 3,353 | $ (12,388) | |
Balance at beginning of period, shares at Dec. 31, 2015 | 33,625,162 | 1,413,777 | ||||
Issuance of common stock | $ 2,549 | 69,906 | ||||
Issuance of common stock ,shares | 2,549,469 | |||||
Issuance of restricted shares | $ 111 | (111) | ||||
Issuance of restricted shares, shares | 110,653 | |||||
Forfeitures of restricted shares | $ (3) | 3 | ||||
Forfeitures of restricted shares, shares | (3,085) | |||||
Exercise of stock options | $ 21 | 393 | ||||
Exercise of stock options, shares | 20,964 | |||||
Share-based compensation | 1,009 | |||||
Net income | $ 32,366 | 32,366 | ||||
Dividends on common shares | (3,485) | |||||
Other comprehensive income (loss) during the period | 9,607 | 9,607 | ||||
Purchase of treasury shares | $ (1,210) | |||||
Purchase of treasury shares,shares | 42,075 | |||||
Total Shareholders’ Equity at Jun. 30, 2016 | 625,915 | $ 36,303 | 408,549 | 181,701 | 12,960 | $ (13,598) |
Balance at end of period, shares at Jun. 30, 2016 | 36,303,163 | 1,455,852 | ||||
Balance at beginning of period at Dec. 31, 2016 | 646,437 | $ 36,378 | 410,276 | 214,454 | (1,058) | $ (13,613) |
Balance at beginning of period, shares at Dec. 31, 2016 | 36,377,807 | 1,456,333 | ||||
Issuance of common stock | $ 2,141 | 92,359 | ||||
Issuance of common stock ,shares | 2,141,072 | |||||
Issuance of restricted shares | $ 80 | (80) | ||||
Issuance of restricted shares, shares | 80,169 | |||||
Forfeitures of restricted shares | $ 0 | 0 | ||||
Forfeitures of restricted shares, shares | (472) | |||||
Exercise of stock options | $ 99 | 1,751 | ||||
Exercise of stock options, shares | 99,189 | |||||
Share-based compensation | 1,497 | |||||
Net income | 44,240 | 44,240 | ||||
Dividends on common shares | (7,435) | |||||
Other comprehensive income (loss) during the period | 2,479 | 2,479 | ||||
Purchase of treasury shares | $ (886) | |||||
Purchase of treasury shares,shares | 18,528 | |||||
Total Shareholders’ Equity at Jun. 30, 2017 | $ 782,682 | $ 38,698 | $ 505,803 | $ 251,259 | $ 1,421 | $ (14,499) |
Balance at end of period, shares at Jun. 30, 2017 | 38,697,765 | 1,474,861 |
Consolidated Statements of Sha7
Consolidated Statements of Shareholders’ Equity [Parenthetical] - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Net issuance cost | $ 4,925 | $ 0 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Operating Activities | |||||
Net income | $ 23,087 | $ 20,049 | $ 44,240 | $ 32,366 | |
Adjustments reconciling net income to net cash provided by operating activities: | |||||
Depreciation | 4,649 | 4,631 | |||
Net losses on sale or disposal of premises and equipment | 865 | 574 | |||
Provision for loan losses | 2,205 | 889 | 4,041 | 1,570 | $ 4,091 |
Net losses (gains) on sale of other real estate owned including write-downs | (266) | 1,995 | |||
Share-based compensation expense | 1,497 | 1,009 | |||
Amortization of intangible assets | 1,013 | 1,319 | 2,049 | 2,339 | |
Provision for deferred taxes | (1,781) | (3,394) | |||
Net amortization of investment securities available for sale | 3,201 | 3,113 | |||
Net gains on securities available for sale | (37) | 0 | (37) | (94) | |
Accretion of discount on purchased loans | (6,165) | (8,844) | |||
Amortization of premium on purchased loan pools | 2,109 | 2,593 | |||
Net accretion (amortization) of other borrowings | 30 | (33) | |||
Amortization of subordinated deferrable interest debentures | 661 | 795 | |||
Originations of mortgage loans held for sale | (711,398) | (641,667) | |||
Payments received on mortgage loans held for sale | 546 | 644 | |||
Proceeds from sales of mortgage loans held for sale | 614,255 | 613,430 | |||
Net gains on sale of mortgage loans held for sale | (23,019) | (25,942) | |||
Originations of SBA loans | (41,332) | (33,079) | |||
Proceeds from sales of SBA loans | 20,409 | 18,067 | |||
Net gains on sale of SBA loans | (2,724) | (1,745) | |||
Increase in cash surrender value of BOLI | (781) | (776) | |||
Changes in FDIC loss-share receivable/payable, net of cash payments received | 1,449 | 4,033 | |||
Change attributable to other operating activities | 19,174 | 12,374 | |||
Net cash used in operating activities | (68,328) | (16,041) | |||
Investing Activities, net of effects of business combinations | |||||
Purchase of securities available for sale | (53,268) | (90,556) | |||
Proceeds from prepayments and maturities of securities available for sale | 54,969 | 56,262 | |||
Proceeds from sales of securities available for sale | 3,090 | 46,731 | |||
Net increase in other investments | (7,187) | (7,597) | |||
Net increase in loans, excluding purchased loans | (499,713) | (336,554) | |||
Payments received on purchased loans | 119,716 | 120,866 | |||
Purchases of loan pools | 0 | (94,707) | |||
Payments received on purchased loan pools | 71,471 | 74,652 | |||
Purchases of premises and equipment | (2,373) | (6,878) | |||
Proceeds from sales of premises and equipment | 0 | 161 | |||
Proceeds from sales of other real estate owned | 7,535 | 9,818 | |||
Payments received from FDIC under loss-share agreements | 230 | 4,165 | |||
Net cash proceeds paid in acquisitions | 0 | (7,205) | |||
Net cash used in investing activities | (305,530) | (230,842) | |||
Financing Activities, net of effects of business combinations | |||||
Net increase (decrease) in deposits | 218,234 | (101,118) | |||
Net decrease in securities sold under agreements to repurchase | (35,105) | (26,446) | |||
Proceeds from other borrowings | 1,122,692 | 172,700 | |||
Repayment of other borrowings | (935,452) | (7) | |||
Issuance of common stock | 88,656 | 0 | |||
Proceeds from exercise of stock options | 1,850 | 414 | |||
Dividends paid - common stock | (7,205) | (3,484) | |||
Purchase of treasury shares | (886) | (1,211) | |||
Net cash provided by financing activities | 452,784 | 40,848 | |||
Net increase (decrease) in cash and cash equivalents | 78,926 | (206,035) | |||
Cash and cash equivalents at beginning of period | 198,385 | 390,563 | 390,563 | ||
Cash and cash equivalents at end of period | $ 277,311 | $ 184,528 | 277,311 | 184,528 | $ 198,385 |
Supplemental Disclosures of Cash Flow Information | |||||
Cash paid during the period for: Interest | 13,048 | 8,801 | |||
Cash paid during the period for: Income taxes | 16,030 | 17,395 | |||
Loans (excluding purchased loans) transferred to other real estate owned | 3,347 | 1,499 | |||
Purchased loans transferred to other real estate owned | 3,281 | 3,420 | |||
Loans transferred from loans held for sale to loans held for investment | 102,421 | 61,960 | |||
Loans provided for the sales of other real estate owned | 949 | 905 | |||
Assets acquired in business acquisitions | 0 | 561,440 | |||
Liabilities assumed in business acquisitions | 0 | 465,048 | |||
Issuance of common stock in acquisitions | 0 | 72,455 | |||
Issuance of common stock in exchange for equity investment in US Premium Finance Holding Company | 5,844 | 0 | |||
Change in unrealized gain (loss) on securities available for sale, net of tax | 2,542 | 10,415 | |||
Change in unrealized gain (loss) on cash flow hedge (interest rate swap), net of tax | $ (63) | $ (808) |
BASIS OF PRESENTATION AND ACCOU
BASIS OF PRESENTATION AND ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND ACCOUNTING POLICIES | NOTE 1 BASIS OF PRESENTATION AND ACCOUNTING POLICIES Ameris Bancorp (the “Company” or “Ameris”) is a financial holding company headquartered in Moultrie, Georgia. Ameris conducts substantially all of its operations through its wholly owned banking subsidiary, Ameris Bank (the “Bank”). At June 30, 2017, the Bank operated 97 branches in select markets in Georgia, Alabama, Florida and South Carolina. Our business model capitalizes on the efficiencies of a large financial services company while still providing the community with the personalized banking service expected by our customers. We manage our Bank through a balance of decentralized management responsibilities and efficient centralized operating systems, products and loan underwriting standards. The Company’s Board of Directors and senior managers establish corporate policy, strategy and administrative policies. Within our established guidelines and policies, the banker closest to the customer responds to the differing needs and demands of his or her unique market. The accompanying unaudited consolidated financial statements for Ameris have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statement presentation. The interim consolidated financial statements included herein are unaudited but reflect all adjustments (consisting of normal recurring accruals) which, in the opinion of management, are necessary for a fair presentation of the consolidated financial position and results of operations for the interim periods presented. All significant intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the period ended June 30, 2017 are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the financial statements and notes thereto and the report of our registered independent public accounting firm included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. Other Investments Other investments include Federal Home Loan Bank (“FHLB”) stock, Federal Reserve Bank stock and a minority equity investment in US Premium Finance Holding Company, a Florida corporation (“USPF”). These investments do not have readily determinable fair values and are carried at cost. They are periodically reviewed for impairment based on ultimate recovery of par value or cost basis. Both stock and cash dividends are reported as income. For additional information regarding the Company’s minority equity investment in USPF, see Note 2. Certain reclassifications of prior year amounts have been made to conform with the current year presentations. Accounting Standards Adopted in 2017 ASU 2016-09 Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”) ASU 2017-09 “Compensation Stock Compensation (Topic 718): Scope of Modification Accounting (“ASU 2017-09”) ASU 2017-08 “Receivables Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities ASU 2017-04 Intangibles: Goodwill and Other: Simplifying the Test for Goodwill Impairment ASU 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business ASU 2016-13 - Financial InstrumentsCredit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ASU 2016-02 Leases (Topic 842) ASU 2014-09 Revenue from Contracts with Customers |
INVESTMENT IN US PREMIUM FINANC
INVESTMENT IN US PREMIUM FINANCE HOLDING COMPANY | 6 Months Ended |
Jun. 30, 2017 | |
Cost Method Investments Disclosure [Abstract] | |
INVESTMENT IN US PREMIUM FINANCE HOLDING COMPANY | NOTE 2 INVESTMENT IN US PREMIUM FINANCE HOLDING COMPANY On December 15, 2016, the Bank entered into a Management and License Agreement with William J. Villari and USPF pursuant to which Mr. Villari will manage a division of the Bank to be operated under the name “US Premium Finance” and which is to be engaged in the business of soliciting, originating, servicing, administering and collecting loans made for purposes of funding insurance premiums and other loans made to persons engaged in the insurance business. Also on December 15, 2016, the Company entered into a Stock Purchase Agreement with Mr. Villari pursuant to which the Company agreed to purchase from Mr. Villari 4.99 128,572 The Company’s 4.99% investment in USPF was valued at $ 5.8 (dollars in thousands, except per share amount) Ameris common shares issued 128,572 Price per share of the Company's common stock $ 45.45 Fair value of consideration transferred $ 5,844 Because USPF does not have a readily determinable fair value and Ameris does not exercise significant influence over USPF, the investment is carried at cost and is included in other investments in the Company’s consolidated balance sheet. The net carrying value of the Company’s investment in USPF was $ 5.8 |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
SECURITIES | NOTE 3 INVESTMENT SECURITIES The Company’s investment policy blends the Company’s liquidity needs and interest rate risk management with its desire to increase income and provide funds for expected growth in loans. The investment securities portfolio consists primarily of U.S. government-sponsored mortgage-backed securities and state, county and municipal securities. The Company’s portfolio and investing philosophy concentrate activities in obligations where the credit risk is limited. For the small portion of the Company’s portfolio found to present credit risk, the Company has reviewed the investments and financial performance of the obligors and believes the credit risk to be acceptable. Gross Gross Estimated Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value June 30, 2017 U.S. government sponsored agencies $ 1,000 $ 9 $ - $ 1,009 State, county and municipal securities 142,028 3,166 (86) 145,108 Corporate debt securities 47,252 552 (192) 47,612 Mortgage-backed securities 626,400 2,828 (4,264) 624,964 Total debt securities $ 816,680 $ 6,555 $ (4,542) $ 818,693 December 31, 2016 U.S. government sponsored agencies $ 999 $ 21 $ - $ 1,020 State, county and municipal securities 149,899 2,605 (469) 152,035 Corporate debt securities 32,375 167 (370) 32,172 Mortgage-backed securities 641,362 2,700 (6,554) 637,508 Total debt securities $ 824,635 $ 5,493 $ (7,393) $ 822,735 Estimated Amortized Fair (dollars in thousands) Cost Value Due in one year or less $ 15,505 $ 15,660 Due from one year to five years 56,978 57,730 Due from five to ten years 73,838 75,578 Due after ten years 43,959 44,761 Mortgage-backed securities 626,400 624,964 $ 816,680 $ 818,693 Securities with a carrying value of approximately $ 531.8 618.2 Less Than 12 Months 12 Months or More Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) Value Losses Value Losses Value Losses June 30, 2017 U.S. government sponsored agencies $ - $ - $ - $ - $ - $ - State, county and municipal securities 13,920 (86) - - 13,920 (86) Corporate debt securities 18,966 (182) 490 (10) 19,456 (192) Mortgage-backed securities 356,690 (3,696) 26,082 (568) 382,772 (4,264) Total debt securities $ 389,576 $ (3,964) $ 26,572 $ (578) $ 416,148 $ (4,542) December 31, 2016 U.S. government sponsored agencies $ - $ - $ - $ - $ - $ - State, county and municipal securities 47,647 (469) - - 47,647 (469) Corporate debt securities 18,377 (363) 493 (7) 18,870 (370) Mortgage-backed securities 414,300 (6,177) 11,791 (377) 426,091 (6,554) Total debt securities $ 480,324 $ (7,009) $ 12,284 $ (384) $ 492,608 $ (7,393) As of June 30, 2017, the Company’s securities portfolio consisted of 418 160 At June 30, 2017, the Company held 139 At June 30, 2017, the Company held 11 10 The Company’s investments in subordinated debt include investments in regional and super-regional banks on which the Company prepares regular analysis through review of financial information and credit ratings. Investments in preferred securities are also concentrated in the preferred obligations of regional and super-regional banks through non-pooled investment structures. The Company did not have investments in “pooled” trust preferred securities at June 30, 2017 or December 31, 2016. Management and the Company’s Asset and Liability Committee (the “ALCO Committee”) evaluate securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. While the majority of the unrealized losses on debt securities relate to changes in interest rates, corporate debt securities have also been affected by reduced levels of liquidity and higher risk premiums. Occasionally, management engages independent third parties to evaluate the Company’s position in certain corporate debt securities to aid management and the ALCO Committee in its determination regarding the status of impairment. The Company believes that each investment poses minimal credit risk and further, that the Company does not intend to sell these investment securities at an unrealized loss position at June 30, 2017, and it is more likely than not that the Company will not be required to sell these securities prior to recovery or maturity. Therefore, at June 30, 2017, these investments are not considered impaired on an other-than-temporary basis. At June 30, 2017 and December 31, 2016, all of the Company’s mortgage-backed securities were obligations of government-sponsored agencies. June 30, June 30, (dollars in thousands) 2017 2016 Gross gains on sales of securities $ 38 $ 313 Gross losses on sales of securities (1) (219) Net realized gains on sales of securities available for sale $ 37 $ 94 Sales proceeds $ 3,090 $ 46,731 |
LOANS
LOANS | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
LOANS AND ALLOWANCE FOR LOAN LOSSES | NOTE 4 LOANS The Bank engages in a full complement of lending activities, including real estate-related loans, agriculture-related loans, commercial and financial loans and consumer installment loans within select markets in Georgia, Alabama, Florida and South Carolina. The Bank purchased residential mortgage loan pools during 2015 and 2016 collateralized by properties located outside our Southeast markets, specifically in California, Washington and Illinois. During the third quarter of 2016, the Bank began purchasing from an unrelated third party consumer installment home improvement loans made to borrowers throughout the United States. As of June 30, 2017 and December 31, 2016, the net carrying value of these consumer installment home improvement loans was approximately $ 112.1 60.8 476.6 353.9 The Bank concentrates the majority of its lending activities in real estate loans. While risk of loss in the Company’s portfolio is primarily tied to the credit quality of the various borrowers, risk of loss may increase due to factors beyond the Company’s control, such as local, regional and/or national economic downturns. General conditions in the real estate market may also impact the relative risk in the real estate portfolio. A substantial portion of the Bank’s loans are secured by real estate in the Bank’s primary market area. In addition, a substantial portion of the OREO is located in those same markets. Accordingly, the ultimate collectability of a substantial portion of the Bank’s loan portfolio and the recovery of a substantial portion of the carrying amount of OREO are susceptible to changes in real estate conditions in the Bank’s primary market area. Commercial, financial and agricultural loans include both secured and unsecured loans for working capital, expansion, crop production, commercial insurance premium finance, and other business purposes. Commercial, financial and agricultural loans also include SBA loans and municipal loans. Short-term working capital loans are secured by non-real estate collateral such as accounts receivable, crops, inventory and equipment. The Bank evaluates the financial strength, cash flow, management, credit history of the borrower and the quality of the collateral securing the loan. The Bank often requires personal guarantees and secondary sources of repayment on commercial, financial and agricultural loans. Real estate loans include construction and development loans, commercial and farmland loans and residential loans. Construction and development loans include loans for the development of residential neighborhoods, one-to-four family home residential construction loans to builders and consumers, and commercial real estate construction loans, primarily for owner-occupied properties. The Company limits its construction lending risk through adherence to established underwriting procedures. Commercial real estate loans include loans secured by owner-occupied commercial buildings for office, storage, retail, farmland and warehouse space. They also include non-owner occupied commercial buildings such as leased retail and office space. Commercial real estate loans may be larger in size and may involve a greater degree of risk than one-to-four family residential mortgage loans. Payments on such loans are often dependent on successful operation or management of the properties. The Company’s residential loans represent permanent mortgage financing and are secured by residential properties located within the Bank's market areas, along with warehouse lines of credit secured by residential mortgages. Consumer installment loans and other loans include home improvement loans, automobile loans, boat and recreational vehicle financing, and secured and unsecured personal loans. Consumer loans carry greater risks than other loans, as the collateral can consist of rapidly depreciating assets such as automobiles and equipment that may not provide an adequate source of repayment of the loan in the case of default. June 30, December 31, (dollars in thousands) 2017 2016 Commercial, financial and agricultural $ 1,218,633 $ 967,138 Real estate construction and development 486,858 363,045 Real estate commercial and farmland 1,519,002 1,406,219 Real estate residential 857,069 781,018 Consumer installment 147,505 96,915 Other 1,161 12,486 $ 4,230,228 $ 3,626,821 Purchased loans are defined as loans that were acquired in bank acquisitions including those that are covered by a loss-sharing agreement with the Federal Deposit Insurance Corporation (the “FDIC”). Purchased loans totaling $ 950.5 1.07 June 30, December 31, (dollars in thousands) 2017 2016 Commercial, financial and agricultural $ 87,612 $ 96,537 Real estate construction and development 73,567 81,368 Real estate commercial and farmland 510,312 576,355 Real estate residential 275,504 310,277 Consumer installment 3,504 4,654 $ 950,499 $ 1,069,191 June 30, June 30, (dollars in thousands) 2017 2016 Balance, January 1 $ 1,069,191 $ 909,083 Charge-offs, net of recoveries (1,860) (1,181) Additions due to acquisitions - 401,085 Accretion 6,165 8,844 Transfers to purchased other real estate owned (3,281) (3,420) Payments received (119,716) (120,866) Other - 90 Ending balance $ 950,499 $ 1,193,635 June 30, June 30, (dollars in thousands) 2017 2016 Balance, January 1 $ 30,624 $ 33,848 Additions due to acquisitions - 9,991 Accretion (6,165) (8,844) Accretable discounts removed due to charge-offs (13) (11) Transfers between non-accretable and accretable discounts, net 807 1,461 Ending balance $ 25,253 $ 36,445 Purchased loan pools are defined as groups of residential mortgage loans that were not acquired in bank acquisitions or FDIC-assisted transactions. As of June 30, 2017, purchased loan pools totaled $ 490.1 483.2 6.9 568.3 559.4 8.9 1.6 1.8 Nonaccrual and Past-Due Loans A loan is placed on nonaccrual status when, in management’s judgment, the collection of the interest income appears doubtful. Interest receivable that has been accrued and is subsequently determined to have doubtful collectability is charged against interest income. Interest on loans that are classified as nonaccrual is subsequently applied to principal until the loans are returned to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Past-due loans are loans whose principal or interest is past due 30 days or more. In some cases, where borrowers are experiencing financial difficulties, loans may be restructured to provide terms significantly different from the original contractual terms. The following table presents an analysis of loans accounted for on a nonaccrual basis, excluding purchased loans: June 30, December 31, (dollars in thousands) 2017 2016 Commercial, financial and agricultural $ 2,463 $ 1,814 Real estate construction and development 770 547 Real estate commercial and farmland 6,004 8,757 Real estate residential 7,342 6,401 Consumer installment 504 595 $ 17,083 $ 18,114 June 30, December 31, (dollars in thousands) 2017 2016 Commercial, financial and agricultural $ 169 $ 692 Real estate construction and development 2,463 2,611 Real estate commercial and farmland 6,624 10,174 Real estate residential 8,074 9,476 Consumer installment 27 13 $ 17,357 $ 22,966 Loans 90 Days or Loans Loans Loans 90 More Past 30-59 60-89 or More Total Due and Days Past Days Days Past Loans Current Total Still (dollars in thousands) Due Past Due Due Past Due Loans Loans Accruing June 30, 2017 Commercial, financial & agricultural $ 6,343 $ 2,298 $ 3,919 $ 12,560 $ 1,206,073 $ 1,218,633 $ 1,784 Real estate construction & development 205 12 751 968 485,890 486,858 - Real estate commercial & farmland 1,311 366 5,602 7,279 1,511,723 1,519,002 - Real estate residential 2,833 1,174 5,432 9,439 847,630 857,069 - Consumer installment loans 575 188 294 1,057 146,448 147,505 - Other - - - - 1,161 1,161 - Total $ 11,267 $ 4,038 $ 15,998 $ 31,303 $ 4,198,925 $ 4,230,228 $ 1,784 December 31, 2016 Commercial, financial & agricultural $ 565 $ 82 $ 1,293 $ 1,940 $ 965,198 $ 967,138 $ - Real estate construction & development 908 446 439 1,793 361,252 363,045 - Real estate commercial & farmland 6,329 1,711 6,945 14,985 1,391,234 1,406,219 - Real estate residential 6,354 1,282 5,302 12,938 768,080 781,018 - Consumer installment loans 624 263 350 1,237 95,678 96,915 - Other - - - - 12,486 12,486 - Total $ 14,780 $ 3,784 $ 14,329 $ 32,893 $ 3,593,928 $ 3,626,821 $ - Loans 90 Days or Loans Loans Loans 90 More Past 30-59 60-89 or More Total Due and Days Past Days Days Past Loans Current Total Still (dollars in thousands) Due Past Due Due Past Due Loans Loans Accruing June 30, 2017 Commercial, financial & agricultural $ 171 $ - $ 152 $ 323 $ 87,289 $ 87,612 $ - Real estate construction & development 322 81 1,830 2,233 71,334 73,567 - Real estate commercial & farmland 1,084 46 2,260 3,390 506,922 510,312 - Real estate residential 985 1,353 5,256 7,594 267,910 275,504 147 Consumer installment loans 28 - 16 44 3,460 3,504 - Total $ 2,590 $ 1,480 $ 9,514 $ 13,584 $ 936,915 $ 950,499 $ 147 December 31, 2016 Commercial, financial & agricultural $ 113 $ 18 $ 593 $ 724 $ 95,813 $ 96,537 $ - Real estate construction & development 161 11 2,518 2,690 78,678 81,368 - Real estate commercial & farmland 2,034 326 7,152 9,512 566,843 576,355 - Real estate residential 4,566 698 6,835 12,099 298,178 310,277 - Consumer installment loans 22 - 13 35 4,619 4,654 - Total $ 6,896 $ 1,053 $ 17,111 $ 25,060 $ 1,044,131 $ 1,069,191 $ - Impaired Loans Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreements. Impaired loans include loans on nonaccrual status and accruing troubled debt restructurings. When determining if the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement, the Company considers the borrower’s capacity to pay, which includes such factors as the borrower’s current financial statements, an analysis of global cash flow sufficient to pay all debt obligations and an evaluation of secondary sources of repayment, such as guarantor support and collateral value. The Company individually assesses for impairment all nonaccrual loans greater than $ 100,000 100,000 As of and for the Period Ended June 30, December 31, June 30, (dollars in thousands) 2017 2016 2016 Nonaccrual loans $ 17,083 $ 18,114 $ 16,003 Troubled debt restructurings not included above 12,169 14,209 14,795 Total impaired loans $ 29,252 $ 32,323 $ 30,798 Quarter-to-date interest income recognized on impaired loans $ 320 $ 225 $ 238 Year-to-date interest income recognized on impaired loans $ 560 $ 1,033 $ 556 Quarter-to-date foregone interest income on impaired loans $ 247 $ 267 $ 230 Year-to-date foregone interest income on impaired loans $ 521 $ 977 $ 471 The following table presents an analysis of information pertaining to impaired loans, excluding purchased loans as of June 30, 2017, December 31, 2016 and June 30, 2016: Three Six Unpaid Recorded Recorded Month Month Contractual Investment Investment Total Average Average Principal With No With Recorded Related Recorded Recorded (dollars in thousands) Balance Allowance Allowance Investment Allowance Investment Investment June 30, 2017 Commercial, financial & agricultural $ 4,166 $ 596 $ 1,907 $ 2,503 $ 704 $ 3,113 $ 2,695 Real estate construction & development 1,733 119 1,080 1,199 179 1,123 1,160 Real estate commercial & farmland 11,885 5,940 4,923 10,863 1,436 11,156 11,730 Real estate residential 13,569 2,154 12,017 14,171 1,994 15,946 16,186 Consumer installment loans 583 - 516 516 5 553 572 Total $ 31,936 $ 8,809 $ 20,443 $ 29,252 $ 4,318 $ 31,891 $ 32,343 Three Twelve Unpaid Recorded Recorded Month Month Contractual Investment Investment Total Average Average Principal With No With Recorded Related Recorded Recorded (dollars in thousands) Balance Allowance Allowance Investment Allowance Investment Investment December 31, 2016 Commercial, financial & agricultural $ 3,068 $ 204 $ 1,656 $ 1,860 $ 134 $ 1,613 $ 1,684 Real estate construction & development 2,047 - 1,233 1,233 273 1,590 2,018 Real estate commercial & farmland 13,906 6,811 6,065 12,876 1,503 12,948 12,845 Real estate residential 15,482 2,238 13,503 15,741 3,080 15,525 14,453 Consumer installment loans 671 - 613 613 5 576 506 Total $ 35,174 $ 9,253 $ 23,070 $ 32,323 $ 4,995 $ 32,252 $ 31,506 Three Six Unpaid Recorded Recorded Month Month Contractual Investment Investment Total Average Average Principal With No With Recorded Related Recorded Recorded (dollars in thousands) Balance Allowance Allowance Investment Allowance Investment Investment June 30, 2016 Commercial, financial & agricultural $ 3,786 $ 652 $ 1,453 $ 2,105 $ 150 $ 1,825 $ 1,731 Real estate construction & development 3,141 230 1,826 2,056 697 2,154 2,304 Real estate commercial & farmland 13,592 5,312 7,221 12,533 1,000 12,772 12,777 Real estate residential 14,460 1,329 12,331 13,660 2,369 13,249 13,450 Consumer installment loans 531 - 444 444 8 441 458 Total $ 35,510 $ 7,523 $ 23,275 $ 30,798 $ 4,224 $ 30,441 $ 30,720 The following is a summary of information pertaining to purchased impaired loans: As of and for the Period Ended June 30, December 31, June 30, (dollars in thousands) 2017 2016 2016 Nonaccrual loans $ 17,357 $ 22,966 $ 26,736 Troubled debt restructurings not included above 21,020 23,543 20,642 Total impaired loans $ 38,377 $ 46,509 $ 47,378 Quarter-to-date interest income recognized on impaired loans $ 374 $ 377 $ 343 Year-to-date interest income recognized on impaired loans $ 753 $ 2,755 $ 885 Quarter-to-date foregone interest income on impaired loans $ 265 $ 354 $ 412 Year-to-date foregone interest income on impaired loans $ 601 $ 1,637 $ 938 The following table presents an analysis of information pertaining to purchased impaired loans as of June 30, 2017, December 31, 2016 and June 30, 2016: Three Six Unpaid Recorded Recorded Month Month Contractual Investment Investment Total Average Average Principal With No With Recorded Related Recorded Recorded (dollars in thousands) Balance Allowance Allowance Investment Allowance Investment Investment June 30, 2017 Commercial, financial & agricultural $ 1,679 $ 163 $ 6 $ 169 $ - $ 273 $ 412 Real estate construction & development 8,296 524 2,967 3,491 257 3,491 3,650 Real estate commercial & farmland 16,987 2,418 11,616 14,034 771 16,167 16,989 Real estate residential 24,219 7,647 13,009 20,656 763 21,262 21,904 Consumer installment loans 36 27 - 27 - 24 24 Total $ 51,217 $ 10,779 $ 27,598 $ 38,377 $ 1,791 $ 41,217 $ 42,979 Three Twelve Unpaid Recorded Recorded Month Month Contractual Investment Investment Total Average Average Principal With No With Recorded Related Recorded Recorded (dollars in thousands) Balance Allowance Allowance Investment Allowance Investment Investment December 31, 2016 Commercial, financial & agricultural $ 5,031 $ 370 $ 322 $ 692 $ - $ 783 $ 2,206 Real estate construction & development 24,566 493 3,477 3,970 153 3,888 4,279 Real estate commercial & farmland 36,174 3,598 15,036 18,634 385 17,806 19,872 Real estate residential 27,022 7,883 15,306 23,189 1,088 23,201 23,163 Consumer installment loans 37 24 - 24 - 51 96 Total $ 92,830 $ 12,368 $ 34,141 $ 46,509 $ 1,626 $ 45,729 $ 49,616 Three Six Unpaid Recorded Recorded Month Month Contractual Investment Investment Total Average Average Principal With No With Recorded Related Recorded Recorded (dollars in thousands) Balance Allowance Allowance Investment Allowance Investment Investment June 30, 2016 Commercial, financial & agricultural $ 2,976 $ 802 $ - $ 802 $ - $ 2,132 $ 2,710 Real estate construction & development 10,082 1,538 2,550 4,088 223 4,273 4,164 Real estate commercial & farmland 27,234 4,202 15,211 19,413 690 21,581 20,433 Real estate residential 26,781 12,099 10,894 22,993 474 22,604 22,786 Consumer installment loans 103 82 - 82 - 109 114 Total $ 67,176 $ 18,723 $ 28,655 $ 47,378 $ 1,387 $ 50,699 $ 50,207 Credit Quality Indicators The Company uses a nine category risk grading system to assign a risk grade to each loan in the portfolio. The following is a description of the general characteristics of the grades: Grade 10 Prime Credit This grade represents loans to the Company’s most creditworthy borrowers or loans that are secured by cash or cash equivalents. Grade 15 Good Credit This grade includes loans that exhibit one or more characteristics better than that of a Satisfactory Credit Grade 20 Satisfactory Credit This grade is assigned to loans to borrowers who exhibit satisfactory credit histories, contain acceptable loan structures and demonstrate ability to repay. Grade 23 Performing, Under-Collateralized Credit This grade is assigned to loans that are currently performing and supported by adequate financial information that reflects repayment capacity but exhibits a loan-to-value ratio greater than 110 Grade 25 Minimum Acceptable Credit This grade includes loans which exhibit all the characteristics of a Satisfactory Credit Grade 30 Other Asset Especially Mentioned This grade includes loans that exhibit potential weaknesses that deserve management’s close attention. If left uncorrected, these weaknesses may result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date. Grade 40 Substandard This grade represents loans which are inadequately protected by the current credit worthiness and paying capacity of the borrower or of the collateral pledged, if any. These assets exhibit a well-defined weakness or are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. These weaknesses may be characterized by past due performance, operating losses or questionable collateral values. Grade 50 Doubtful This grade includes loans which exhibit all of the characteristics of a substandard loan with the added provision that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable or improbable. Grade 60 Loss This grade is assigned to loans which are considered uncollectible and of such little value that their continuance as active assets of the Bank is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing it off. Risk Commercial, Real Estate - Real Estate - Real Estate - Consumer Other Total June 30, 2017 10 $ 475,310 $ - $ 6,384 $ 51 $ 8,769 $ - $ 490,514 15 502,635 1,306 81,494 45,429 277 - 631,141 20 108,940 47,672 996,883 696,382 24,270 1,161 1,875,308 23 349 6,072 3,055 5,906 4 - 15,386 25 120,987 424,915 399,354 89,100 113,430 - 1,147,786 30 5,720 5,217 16,817 4,998 119 - 32,871 40 4,685 1,676 15,015 15,104 636 - 37,116 50 7 - - 99 - - 106 60 - - - - - - - Total $ 1,218,633 $ 486,858 $ 1,519,002 $ 857,069 $ 147,505 $ 1,161 $ 4,230,228 December 31, 2016 10 $ 397,093 $ - $ 8,814 $ 125 $ 8,532 $ - $ 414,564 15 376,323 5,390 102,893 54,136 405 - 539,147 20 97,057 36,307 889,539 609,583 25,026 12,486 1,669,998 23 366 6,803 8,533 7,470 14 - 23,186 25 92,066 307,903 357,151 88,370 62,098 - 907,588 30 144 719 22,986 5,197 126 - 29,172 40 4,089 5,923 16,303 16,038 714 - 43,067 50 - - - 99 - - 99 60 - - - - - - - Total $ 967,138 $ 363,045 $ 1,406,219 $ 781,018 $ 96,915 $ 12,486 $ 3,626,821 Risk Commercial, Real Estate - Real Estate - Real Estate - Consumer Other Total June 30, 2017 10 $ 5,202 $ - $ - $ - $ 757 $ - $ 5,959 15 4,890 - 6,210 27,943 348 - 39,391 20 12,311 12,289 190,506 111,033 1,310 - 327,449 23 22 2,553 8,139 11,344 - - 22,058 25 51,611 46,179 261,911 99,248 954 - 459,903 30 11,359 9,215 14,545 6,693 57 - 41,869 40 2,217 3,331 29,001 19,243 78 - 53,870 50 - - - - - - - 60 - - - - - - - Total $ 87,612 $ 73,567 $ 510,312 $ 275,504 $ 3,504 $ - $ 950,499 December 31, 2016 10 $ 5,722 $ - $ - $ - $ 814 $ - $ 6,536 15 1,266 - 7,619 31,331 570 - 40,786 20 16,204 10,686 194,168 111,712 1,583 - 334,353 23 22 3,643 9,019 14,791 - - 27,475 25 67,123 56,006 323,242 121,379 1,276 - 569,026 30 5,072 7,271 15,039 7,605 45 - 35,032 40 1,128 3,762 27,268 23,459 366 - 55,983 50 - - - - - - - 60 - - - - - - - Total $ 96,537 $ 81,368 $ 576,355 $ 310,277 $ 4,654 $ - $ 1,069,191 Troubled Debt Restructurings The restructuring of a loan is considered a “troubled debt restructuring” if both (i) the borrower is experiencing financial difficulties and (ii) the Company has granted a concession. Concessions may include interest rate reductions to below market interest rates, principal forgiveness, restructuring amortization schedules and other actions intended to minimize potential losses. The Company has exhibited the greatest success for rehabilitation of the loan by a reduction in the rate alone (maintaining the amortization of the debt) or a combination of a rate reduction and the forbearance of previously past due interest or principal. This has most typically been evidenced in certain commercial real estate loans whereby a disruption in the borrower’s cash flow resulted in an extended past due status, of which the borrower was unable to catch up completely as the cash flow of the property ultimately stabilized at a level lower than its original level. A reduction in rate, coupled with a forbearance of unpaid principal and/or interest, allowed the net cash flows to service the debt under the modified terms. The Company’s policy requires a restructure request to be supported by a current, well-documented credit evaluation of the borrower’s financial condition and a collateral evaluation that is no older than six months from the date of the restructure. Key factors of that evaluation include the documentation of current, recurring cash flows, support provided by the guarantor(s) and the current valuation of the collateral. If the appraisal in the file is older than six months, an evaluation must be made as to the continued reasonableness of the valuation. For certain income-producing properties, current rent rolls and/or other income information can be utilized to support the appraisal valuation, when coupled with documented cap rates within our markets and a physical inspection of the collateral to validate the current condition. The Company’s policy states that in the event a loan has been identified as a troubled debt restructuring, it should be assigned a grade of substandard and placed on nonaccrual status until such time the borrower has demonstrated the ability to service the loan payments based on the restructured terms generally defined as six months of satisfactory payment history. Missed payments under the original loan terms are not considered under the new structure; however, subsequent missed payments are considered non-performance and are not considered toward the six month required term of satisfactory payment history. The Company’s loan policy states that a nonaccrual loan may be returned to accrual status when (i) none of its principal and interest is due and unpaid, and the Company expects repayment of the remaining contractual principal and interest or (ii) it otherwise becomes well secured and in the process of collection. Restoration to accrual status on any given loan must be supported by a well-documented credit evaluation of the borrower’s financial condition and the prospects for full repayment and approved by the Company’s Chief Credit Officer. In the normal course of business, the Company renews loans with a modification of the interest rate or terms that are not deemed as troubled debt restructurings because the borrower is not experiencing financial difficulty. The Company modified loans in the first six months of 2017 and 2016 totaling $ 16.2 36.8 As of June 30, 2017 and December 31, 2016, the Company had a balance of $ 14.6 18.2 2.0 1.2 1.7 3.1 During the six months ending June 30, 2017 and 2016, the Company modified loans as troubled debt restructurings, excluding purchased loans, with principal balances of $ 1.2 2.5 June 30, 2017 June 30, 2016 Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural - $ - 2 $ 28 Real estate construction & development - - 1 6 Real estate commercial & farmland 4 1,062 4 1,666 Real estate residential 1 77 6 739 Consumer installment 6 31 6 26 Total 11 $ 1,170 19 $ 2,465 Troubled debt restructurings, excluding purchased loans, with an outstanding balance of $ 992,000 494,000 June 30, 2017 June 30, 2016 Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural 2 $ 49 2 $ 7 Real estate construction & development - - - - Real estate commercial & farmland 4 362 2 191 Real estate residential 9 554 6 292 Consumer installment 7 27 1 4 Total 22 $ 992 11 $ 494 June 30, 2017 Accruing Loans Non-Accruing Loans Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural 3 $ 40 15 $ 136 Real estate construction & development 7 429 2 34 Real estate commercial & farmland 16 4,859 4 192 Real estate residential 74 6,829 17 1,975 Consumer installment 7 12 34 133 Total 107 $ 12,169 72 $ 2,470 December 31, 2016 Accruing Loans Non-Accruing Loans Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural 4 $ 47 15 $ 114 Real estate construction & development 8 686 2 34 Real estate commercial & farmland 16 4,119 5 2,970 Real estate residential 82 9,340 15 739 Consumer installment 7 17 32 130 Total 117 $ 14,209 69 $ 3,987 As of June 30, 2017 and December 31, 2016, the Company had a balance of $ 27.3 28.1 1.5 During the six months ending June 30, 2017 and 2016, the Company modified purchased loans as troubled debt restructurings, with principal balances of $ 1.9 1.2 June 30, 2017 June 30, 2016 Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural 1 $ 6 1 $ 76 Real estate construction & development - - - - Real estate commercial & farmland 4 1,323 2 492 Real estate residential 4 578 3 662 Consumer installment - - - - Total 9 $ 1,907 6 $ 1,230 Troubled debt restructurings included in purchased loans with an outstanding balance of $ 373,000 1.4 June 30, 2017 June 30, 2016 Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural 1 $ 6 2 $ 76 Real estate construction & development - - 2 402 Real estate commercial & farmland 1 226 - - Real estate residential 4 138 6 919 Consumer installment 1 3 - - Total 7 $ 373 10 $ 1,397 June 30, 2017 Accruing Loans Non-Accruing Loans Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural - $ - 4 $ 21 Real estate construction & development 3 1,028 6 356 Real estate commercial & farmland 17 7,410 11 3,935 Real estate residential 120 12,582 32 1,965 Consumer installment - - 2 7 Total 140 $ 21,020 55 $ 6,284 December 31, 2016 Accruing Loans Non-Accruing Loans Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural 1 $ 1 4 $ 91 Real estate construction & development 6 1,358 3 30 Real estate commercial & farmland 20 8,460 5 2,402 Real estate residential 123 13,713 33 2,077 Consumer installment 3 11 1 - Total 153 $ 23,543 46 $ 4,600 Allowance for Loan Losses The allowance for loan losses represents an allowance for probable incurred losses in the loan portfolio. The adequacy of the allowance for loan losses is evaluated periodically based on a review of all significant loans, with a particular emphasis on non-accruing, past-due and other loans that management believes might be potentially impaired or warrant additional attention. The Company segregates the loan portfolio by type of loan and utilizes this segregation in evaluating exposure to risks within the portfolio. In addition, based on internal reviews and external reviews performed by regulatory authorities, the Company further segregates the loan portfolio by loan grades based on an assessment of risk for a particular loan or group of loans. Certain reviewed loans are assigned specific allowances when a review of relevant data determines that a general allocation is not sufficient or when the review affords management the opportunity to adjust the amount of exposure in a given credit. In establishing allowances, management considers historical loan loss experience but adjusts this data with a significant emphasis on current loan quality trends, current economic conditions and other factors in the markets where the Company operates. Factors considered include, among others, current valuations of real estate in the Company’s markets, unemployment rates, the effect of weather conditions on agricultural related entities and other significant local economic events, such as major plant closings. The Company has developed a methodology for determining the adequacy of the allowance for loan losses which is monitored by the Company’s Chief Credit Officer. Procedures provide for the assignment of a risk rating for every loan included in the total loan portfolio. Mortgage warehouse lines of credit, overdraft protection loans, commercial insurance premium finance loans, and certain consumer and mortgage loans serviced by outside processors are treated as pools for risk rating purposes. The risk rating schedule provides nine ratings of which five ratings are classified as pass ratings and four ratings are classified as criticized ratings. Each risk rating is assigned a percentage factor to be applied to the loan balance to determine the adequate amount of reserve. The Bank’s independent internal loan review department reviews on an annual basis a sample of relationships in excess of $ 500,000 Loan losses are charged against the allowance when management believes the collection of a loan’s principal is unlikely. Subsequent recoveries are credited to the allowance. Consumer loans are charged-off in accordance with the Federal Financial Institutions Examination Council’s (“FFIEC”) Uniform Retail Credit Classification and Account Management Policy. Commercial loans are charged-off when they are deemed uncollectible, which usually involves a triggering event within the collection effort. If the loan is collateral dependent, the loss is more easily identified and is charged-off when it is identified, usually based upon receipt of an appraisal. However, when a loan has guarantor support, the Company may carry the estimated loss as a reserve against the loan while collection efforts with the guarantor are pursued. If, after collection efforts with the guarantor are complete, the deficiency is still considered uncollectible, the loss is charged-off and any further collections are treated as recoveries. In all situations, when a loan is downgraded to an Asset Quality Rating of 60 (Loss per the regulatory guidance), the uncollectible portion is charged-off. Consumer Commercial, Real Estate Real Estate Installment Purchased Financial & Construction & Commercial & Real Estate Loans and Purchased Loan (dollars in thousands) Agricultural Development Farmland Residential Other Loans Pools Total Three months ended June 30, 2017: Balance, March 31, 2017 $ 2,798 $ 3,597 $ 7,879 $ 5,840 $ 854 $ 2,196 $ 2,086 $ 25,250 Provision for loan losses 984 102 255 655 695 (23) (463) 2,205 Loans charged off (701) (41) (386) (963) (438) (755) - (3,284) Recoveries of loans previously charged off 221 98 121 73 44 373 - 930 Balance, June 30, 2017 $ 3,302 $ 3,756 $ 7,869 $ 5,605 $ 1,155 $ 1,791 $ 1,623 $ 25,101 Six months ended June 30, 2017: Balance, December 31, 2016 $ 2,192 $ 2,990 $ 7,662 $ 6,786 $ 827 $ 1,626 $ 1,837 $ 23,920 Provision for loan losses 1,625 742 472 (136) 869 683 (214) 4,041 Loans charged off (805) (94) (395) (1,179) (602) (1,311) - (4,386) Recoveries of loans previously charged off 290 118 130 134 61 793 - 1,526 Balance, June 30, 2017 $ 3,302 $ 3,756 $ 7,869 $ 5,605 $ 1,155 $ 1,791 $ 1,623 $ 25,101 Period-end allocation: Loans individually evaluated for impairment (1) $ 691 $ 174 $ 1,437 $ 1,748 $ - $ 1,791 $ 180 $ 6,021 Loans collectively evaluated for impairment 2,611 3,582 6,432 3,857 1,155 - 1,443 19,080 Ending balance $ 3,302 $ 3,756 $ 7,869 $ 5,605 $ 1,155 $ 1,791 $ 1,623 $ 25,101 Loans: Individually evaluated for impairment |
ASSETS ACQUIRED IN FDIC-ASSISTE
ASSETS ACQUIRED IN FDIC-ASSISTED ACQUISITIONS | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
ASSETS ACQUIRED IN FDIC-ASSISTED ACQUISITIONS | NOTE 5 ASSETS ACQUIRED IN FDIC-ASSISTED ACQUISITIONS Bank Acquired Location Branches Date Acquired American United Bank (“AUB”) Lawrenceville, Ga. 1 October 23, 2009 United Security Bank (“USB”) Sparta, Ga. 2 November 6, 2009 Satilla Community Bank (“SCB”) St. Marys, Ga. 1 May 14, 2010 First Bank of Jacksonville (“FBJ”) Jacksonville, Fl. 2 October 22, 2010 Tifton Banking Company (“TBC”) Tifton, Ga. 1 November 12, 2010 Darby Bank & Trust (“DBT”) Vidalia, Ga. 7 November 12, 2010 High Trust Bank (“HTB”) Stockbridge, Ga. 2 July 15, 2011 One Georgia Bank (“OGB”) Midtown Atlanta, Ga. 1 July 15, 2011 Central Bank of Georgia (“CBG”) Ellaville, Ga. 5 February 24, 2012 Montgomery Bank & Trust (“MBT”) Ailey, Ga. 2 July 6, 2012 The determination of the initial fair values of loans at the acquisition date and the initial fair values of the related FDIC indemnification assets involves a high degree of judgment and complexity. The carrying values of the acquired loans and the FDIC indemnification assets reflect management’s best estimate of the fair value of each of these assets as of the date of acquisition. However, the amount that the Company realizes on these assets could differ materially from the carrying values reflected in the financial statements included in this report, based upon the timing and amount of collections on the acquired loans in future periods. Because of the loss-sharing agreements with the FDIC on these assets, the Company does not expect to incur any significant losses. To the extent the actual values realized for the acquired loans are different from the estimates, the indemnification assets will generally be affected in an offsetting manner due to the loss-sharing support from the FDIC. FASB ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality Each acquisition with loss-sharing agreements has separate agreements for the single family residential assets (“SFR”) and the non-single family assets (“NSF”). The SFR agreements cover losses and recoveries for ten years. The NSF agreements are for eight years. During the first five years, losses and recoveries are covered. During the final three years, only recoveries, net of expenses, are covered. The AUB SFR agreement was terminated during 2012 and Ameris received a payment of $ 87,000 At June 30, 2017, the Company’s FDIC loss-sharing payable totaled $ 8.0 537,000 1.2 FDIC Loss- Less: Fair Total Less: Fair Total Total Share Covered Value Covered Value Covered Covered Receivable (dollars in thousands) Loans Adjustments Loans OREO Adjustments OREO Assets (Payable) June 30, 2017 AUB $ - $ - $ - $ - $ - $ - $ - $ - USB 2,933 12 2,921 - - - 2,921 (1,726) SCB 3,230 30 3,200 - - - 3,200 69 FBJ 3,682 414 3,268 - - - 3,268 (302) DBT 10,360 406 9,954 - - - 9,954 (4,299) TBC 1,708 - 1,708 - - - 1,708 (50) HTB 1,885 28 1,857 - - - 1,857 (59) OGB 939 31 908 - - - 908 (1,103) CBG 10,654 773 9,881 215 - 215 10,096 (522) Total $ 35,391 $ 1,694 $ 33,697 $ 215 $ - $ 215 $ 33,912 $ (7,992) December 31, 2016 AUB $ - $ - $ - $ - $ - $ - $ - $ (27) USB 3,199 13 3,186 51 - 51 3,237 (1,642) SCB 4,019 51 3,968 - - - 3,968 (32) FBJ 3,767 452 3,315 - - - 3,315 (234) DBT 12,166 565 11,601 - - - 11,601 (4,591) TBC 1,679 - 1,679 - - - 1,679 (33) HTB 1,913 33 1,880 - - - 1,880 734 OGB 1,077 32 1,045 - - - 1,045 (993) CBG 33,449 1,963 31,486 1,161 4 1,157 32,643 505 Total $ 61,269 $ 3,109 $ 58,160 $ 1,212 $ 4 $ 1,208 $ 59,368 $ (6,313) The shared-loss agreements are subject to the servicing procedures as specified in the agreement with the FDIC. The expected reimbursements under the shared-loss agreements were recorded as an indemnification asset at their estimated fair values on the acquisition dates. As of June 30, 2017 and December 31, 2016, the Company has recorded a clawback liability of $ 9.7 9.3 June 30, June 30, (dollars in thousands) 2017 2016 Beginning balance, January 1 $ (6,313) $ 6,301 Payments received from FDIC (230) (4,165) Amortization (595) (2,737) Changes in clawback liability (398) (345) Increase in receivable due to: Net recoveries on covered loans (648) (929) Loss (gain) on covered other real estate owned (40) 774 Reimbursable expenses on covered assets 242 429 Other activity, net (10) (1,225) Ending balance $ (7,992) $ (1,897) The FDIC loss-sharing payable is included in other liabilities in the consolidated balance sheets. The FDIC loss-sharing receivable is included in other assets in the consolidated balance sheets. |
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
OTHER REAL ESTATE OWNED | NOTE 6. OTHER REAL ESTATE OWNED The following is a summary of the activity in other real estate owned during the six months ended June 30, 2017 and 2016: June 30, June 30, (dollars in thousands) 2017 2016 Beginning balance, January 1 $ 10,874 $ 16,147 Loans transferred to other real estate owned 3,347 1,499 Net gains (losses) on sale and write-downs recorded in statement of income (553) (1,057) Sales proceeds (2,185) (2,824) Ending balance $ 11,483 $ 13,765 The following is a summary of the activity in purchased other real estate owned during the six months ended June 30, 2017 and 2016: June 30, June 30, (dollars in thousands) 2017 2016 Beginning balance, January 1 $ 12,540 $ 19,344 Loans transferred to other real estate owned 3,281 3,420 Acquired in acquisitions - 1,838 Portion of gains (losses) on sale and write-downs payable to (receivable from) the FDIC under loss-sharing agreements 40 - Net gains (losses) on sale and write-downs recorded in statement of income 819 (938) Sales proceeds (5,350) (6,994) Ending balance $ 11,330 $ 16,670 |
SECURITIES SOLD UNDER AGREEMENT
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | NOTE 7 SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE The Company classifies the sales of securities under agreements to repurchase as short-term borrowings. The amounts received under these agreements are reflected as a liability in the Company’s consolidated balance sheets and the securities underlying these agreements are included in investment securities in the Company’s consolidated balance sheets. At June 30, 2017 and December 31, 2016, all securities sold under agreements to repurchase mature on a daily basis. The market value of the securities fluctuate on a daily basis due to market conditions. The Company monitors the market value of the securities underlying these agreements on a daily basis and is required to transfer additional securities if the market value of the securities fall below the repurchase agreement price. The Company maintains an unpledged securities portfolio that it believes is sufficient to protect against a decline in the market value of the securities sold under agreements to repurchase. June 30, December 31, (dollars in thousands) 2017 2016 Securities sold under agreements to repurchase $ 18,400 $ 53,505 At June 30, 2017 and December 31, 2016, the investment securities underlying these agreements were comprised of state, county and municipal securities and mortgage-backed securities. |
OTHER BORROWINGS
OTHER BORROWINGS | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
OTHER BORROWINGS | NOTE 8 OTHER BORROWINGS The Company has, from time to time, utilized certain borrowing arrangements to fund growth in earning assets or provide additional liquidity when appropriate spreads can be realized. At June 30, 2017 and December 31, 2016, there were $ 679.6 492.3 June 30, December 31, (dollars in thousands) 2017 2016 FHLB borrowings: Daily Rate Credit from FHLB with a variable interest rate (1.32% at June 30, 2017 and 0.80% at December 31, 2016) $ 254,000 $ 150,000 Advance from FHLB due July 7, 2017; fixed interest rate of 1.07% 350,000 - Advance from FHLB due January 6, 2017; fixed interest rate of 0.56% - 292,500 Advance from FHLB due January 9, 2017; fixed interest rate of 1.40% - 4,002 Advance from FHLB due May 30, 2017; fixed interest rate of 1.23% - 5,006 Subordinated notes payable: Subordinated notes payable due March 15, 2027 net of unamortized debt issuance cost of $1,270; fixed interest rate of 5.75% through March 14, 2022; variable interest rate thereafter at three-month LIBOR plus 3.616% 73,730 - Other debt: Advance from correspondent bank due October 5, 2019; secured by a loan receivable; fixed interest rate of 4.25% 63 77 Advance from correspondent bank due September 5, 2026; secured by a loan receivable; fixed interest rate of 2.09% 1,798 1,886 Advances under revolving credit agreement with a regional bank due September 26, 2017; secured by subsidiary bank stock; variable interest rate at 90-day LIBOR plus 3.50% (4.43% at December 31, 2016) - 38,000 Advances under revolving credit agreement with a regional bank due January 7, 2017; fixed interest rate of 8.00% - 850 Total $ 679,591 $ 492,321 The advances from the FHLB are collateralized by a blanket lien on all first mortgage loans and other specific loans in addition to FHLB stock. At June 30, 2017, $ 560.3 At June 30, 2017, $ 60.0 As of June 30, 2017, the Company maintained credit arrangements with various financial institutions to purchase federal funds up to $ 82.0 The Company also participates in the Federal Reserve discount window borrowings program. At June 30, 2017, the Company had $ 989.9 644.3 Subordinated Notes Payable On March 13, 2017, the Company completed the public offering and sale of $ 75.0 5.75 On any scheduled interest payment date beginning March 15, 2022, the Company may, at its option, redeem the subordinated notes, in whole or in part, at a redemption price equal to 100 The subordinated notes are unsecured and rank equally with all other unsecured subordinated indebtedness of the Company, including any subordinated indebtedness issued in the future under the indenture governing the subordinated notes. The subordinated notes are subordinated in right of payment to all senior indebtedness of the Company. The subordinated notes are obligations of the Company only and are not guaranteed by any subsidiaries, including the Bank. Additionally, the subordinated notes are structurally subordinated to all existing and future indebtedness and other liabilities of the Company’s subsidiaries, meaning that creditors of the Company’s subsidiaries (including, in the case of the Bank, its depositors) generally will be paid from those subsidiaries’ assets before holders of the subordinated notes have any claim to those assets. For regulatory capital adequacy purposes, the subordinated notes qualify as Tier 2 capital for the Company. If in the future the subordinated notes no longer qualify as Tier 2 capital, the subordinated notes may be redeemed by the Company at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest, subject to prior approval by the Board of Governors of the Federal Reserve System. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 9 COMMITMENTS AND CONTINGENCIES Loan Commitments The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. They involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amount recognized in the Company’s balance sheets. The Company’s exposure to credit loss is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. A summary of the Company’s commitments is as follows: June 30, December 31, (dollars in thousands) 2017 2016 Commitments to extend credit $ 1,042,343 $ 1,101,257 Unused home equity lines of credit 64,561 62,586 Financial standby letters of credit 12,928 14,257 Mortgage interest rate lock commitments 138,325 91,426 Mortgage forward contracts with positive fair value 149,250 150,000 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. These commitments, predominantly at variable interest rates, generally have fixed expiration dates of one year or less or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the customer. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. Collateral is required in instances which the Company deems necessary. Other Commitments As of June 30, 2017, a $ 75.0 Contingencies Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management and its legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s legal counsel evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed. A former borrower of the Company has filed a claim related to a loan previously made by the Company asserting lender liability. The case was tried without a jury and a judgment was issued by the court against the Company awarding the borrower approximately $ 2.9 |
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY | 6 Months Ended |
Jun. 30, 2017 | |
Stockholders' Equity Note [Abstract] | |
SHAREHOLDERS' EQUITY | NOTE 10 SHAREHOLDERS’ EQUITY On January 18, 2017, the Company issued 128,572 4.99 45.45 5.8 On March 6, 2017, the Company completed an underwritten public offering of 2,012,500 46.50 88.7 4.9 In March 2017, the Company made a capital contribution to the Bank in the amount of $ 110.0 |
ACCUMULATED OTHER COMPREHENSIVE
ACCUMULATED OTHER COMPREHENSIVE INCOME | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
ACCUMULATED OTHER COMPREHENSIVE INCOME | NOTE 11 ACCUMULATED OTHER COMPREHENSIVE INCOME Accumulated other comprehensive income for the Company consists of changes in net unrealized gains and losses on investment securities available for sale and an interest rate swap derivative designated as a cash flow hedge. The following tables present a summary of the accumulated other comprehensive income balances, net of tax, as of June 30, 2017 and 2016: Unrealized Unrealized Accumulated Gain (Loss) Gain (Loss) Other Comprehensive (dollars in thousands) on Derivatives on Securities Income (Loss) Balance, January 1, 2017 $ 176 $ (1,234) $ (1,058) Reclassification for gains included in net income, net of tax - (24) (24) Current year changes, net of tax (63) 2,566 2,503 Balance, June 30, 2017 $ 113 $ 1,308 $ 1,421 Unrealized Unrealized Accumulated Gain (Loss) Gain (Loss) Other Comprehensive (dollars in thousands) on Derivatives on Securities Income (Loss) Balance, January 1, 2016 $ 152 $ 3,201 $ 3,353 Reclassification for gains included in net income, net of tax - (61) (61) Current year changes, net of tax (808) 10,476 9,668 Balance, June 30, 2016 $ (656) $ 13,616 $ 12,960 |
WEIGHTED AVERAGE SHARES OUTSTAN
WEIGHTED AVERAGE SHARES OUTSTANDING | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
WEIGHTED AVERAGE SHARES OUTSTANDING | NOTE 12 WEIGHTED AVERAGE SHARES OUTSTANDING Earnings per share have been computed based on the following weighted average number of common shares outstanding: For the Three Months For the Six Months Ended June 30, Ended June 30, (share data in thousands) 2017 2016 2017 2016 Average common shares outstanding 37,163 34,833 36,418 33,792 Common share equivalents: Stock options 73 117 73 113 Nonvested restricted share grants 253 203 253 202 Average common shares outstanding, assuming dilution 37,489 35,153 36,744 34,107 For the three and six-month periods ended June 30, 2017 and 2016, there were no potential common shares with strike prices that would cause them to be anti-dilutive. |
FAIR VALUE MEASURES
FAIR VALUE MEASURES | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASURES | NOTE 13 FAIR VALUE MEASURES The fair value of an asset or liability is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various assets and liabilities. In cases where quoted market prices are not available, fair value is based on discounted cash flows or other valuation techniques. These techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the asset or liability. The accounting standard for disclosures about the fair value measures excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. June 30, December 31, (dollars in thousands) 2017 2016 Mortgage loans held for sale $ 123,119 $ 105,924 SBA loans held for sale 23,647 - Total loans held for sale $ 146,766 $ 105,924 The Company has elected to record mortgage loans held for sale at fair value in order to eliminate the complexities and inherent difficulties of achieving hedge accounting and to better align reported results with the underlying economic changes in value of the loans and related hedge instruments. This election impacts the timing and recognition of origination fees and costs, as well as servicing value, which are now recognized in earnings at the time of origination. Interest income on mortgage loans held for sale is recorded on an accrual basis in the consolidated statements of income and comprehensive income under the heading interest income interest and fees on loans. The servicing value is included in the fair value of the interest rate lock commitments (“IRLCs”) with borrowers. The mark to market adjustments related to mortgage loans held for sale and the associated economic hedges are captured in mortgage banking activities. Net gains of $ 4.2 3.9 June 30, December 31, (dollars in thousands) 2017 2016 Aggregate fair value of mortgage loans held for sale $ 123,119 $ 105,924 Aggregate unpaid principal balance 118,900 103,691 Past-due loans of 90 days or more - - Nonaccrual loans - - The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Securities available for sale, mortgage loans held for sale and derivatives are recorded at fair value on a recurring basis. From time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans and OREO. Additionally, the Company is required to disclose, but not record, the fair value of other financial instruments. Fair Value Hierarchy The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following methods and assumptions were used by the Company in estimating the fair value of its assets and liabilities recorded at fair value and for estimating the fair value of its financial instruments: Cash, Due From Banks, Federal Funds Sold and Interest-Bearing Accounts: The carrying amount of cash, due from banks, federal funds sold and interest-bearing deposits in banks approximates fair value. Investment Securities Available for Sale: The fair value of securities available for sale is determined by various valuation methodologies. Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flows. Level 2 securities include certain U.S. agency bonds, mortgage-backed securities, collateralized mortgage and debt obligations, and municipal securities. The Level 2 fair value pricing is provided by an independent third party and is based upon similar securities in an active market. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy and include certain residual municipal securities and other less liquid securities. Other Investments: FHLB stock, Federal Reserve Bank stock and the Company’s minority equity investment in USPF are included in other investment securities at original cost basis. These investments do not have readily determinable fair values and are carried at original cost basis. It is not practical to determine the fair value of these investments due to restrictions placed on transferability. These investments are periodically evaluated for impairment based on ultimate recovery of par value or cost basis. Cost basis approximates fair value for these investments. Loans Held for Sale: The Company records loans held for sale at fair value. The fair value of loans held for sale is determined on outstanding commitments from third party investors in the secondary markets and is classified within Level 2 of the valuation hierarchy. Loans: The carrying amount of variable-rate loans that reprice frequently and have no significant change in credit risk approximates fair value. The fair value of fixed-rate loans is estimated based on discounted contractual cash flows, using interest rates currently being offered for loans with similar terms to borrowers with similar credit quality. The fair value of impaired loans is estimated based on discounted contractual cash flows or underlying collateral values, where applicable. A loan is determined to be impaired if the Company believes it is probable that all principal and interest amounts due according to the terms of the note will not be collected as scheduled. The fair value of impaired loans is determined in accordance with ASC 310-10, Accounting by Creditors for Impairment of a Loan Other Real Estate Owned: The fair value of other real estate owned (“OREO”) is determined using certified appraisals, internal evaluations and broker price opinions that value the property at its highest and best uses by applying traditional valuation methods common to the industry. The Company does not hold any OREO for profit purposes and all other real estate is actively marketed for sale. In most cases, management has determined that additional write-downs are required beyond what is calculable from the appraisal to carry the property at levels that would attract buyers. Because this additional write-down is not based on observable inputs, management has determined that other real estate owned should be classified as Level 3. Intangible Assets: Intangible assets consist of core deposit premiums acquired in connection with business combinations and are based on the established value of acquired customer deposits. The core deposit premium is initially recognized based on a valuation performed as of the consummation date and is amortized over an estimated useful life of seven to ten years. FDIC Loss-Share Receivable/Payable: Because the FDIC will reimburse the Company for certain acquired loans should the Company experience a loss, an indemnification asset is recorded at fair value at the acquisition date. The indemnification asset is recognized at the same time as the indemnified loans, and measured on the same basis, subject to collectability or contractual limitations. The shared loss agreements on the acquisition date reflect the reimbursements expected to be received from the FDIC, using an appropriate discount rate, which reflects counterparty credit risk and other uncertainties. The shared loss agreements continue to be measured on the same basis as the related indemnified loans, and the loss-share receivable/payable is impacted by changes in estimated cash flows associated with these loans. Accrued Interest Receivable/Payable: The carrying amount of accrued interest receivable and accrued interest payable approximates fair value. Cash Value of Bank Owned Life Insurance: The carrying value of cash value of bank owned life insurance approximates fair value. Deposits: The carrying amount of demand deposits, savings deposits and variable-rate certificates of deposit approximates fair value. The fair value of fixed-rate certificates of deposit is estimated based on discounted contractual cash flows using interest rates currently being offered for certificates of similar maturities. Securities Sold under Agreements to Repurchase and Other Borrowings: The carrying amount of variable rate borrowings and securities sold under repurchase agreements approximates fair value and are classified as Level 1. The fair value of fixed rate other borrowings is estimated based on discounted contractual cash flows using the current incremental borrowing rates for similar borrowing arrangements and are classified as Level 2. Subordinated Deferrable Interest Debentures: The fair value of the Company’s trust preferred securities is based primarily upon discounted cash flows using rates for securities with similar terms and remaining maturities and are classified as Level 2. Off-Balance-Sheet Instruments: Because commitments to extend credit and standby letters of credit are typically made using variable rates and have short maturities, the carrying value and fair value are immaterial for disclosure. Derivatives: The Company has entered into derivative financial instruments to manage interest rate risk. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivatives. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair value of the derivatives is determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments are based on an expectation of future interest rates (forward curves derived from observable market interest rate curves). The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting any applicable credit enhancements such as collateral postings, thresholds, mutual puts and guarantees. Although the Company has determined that the majority of the inputs used to value its derivative fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself or the counterparty. However, as of June 30, 2017 and December 31, 2016, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustment is not significant to the overall valuation of its derivatives. As a result, the Company has determined that its derivative valuation in its entirety is classified in Level 2 of the fair value hierarchy. Fair Value Measurements on a Recurring Basis As of June 30, 2017 (dollars in thousands) Fair Value Level 1 Level 2 Level 3 Financial assets: U.S. government sponsored agencies $ 1,009 $ - $ 1,009 $ - State, county and municipal securities 145,108 - 145,108 - Corporate debt securities 47,612 - 46,112 1,500 Mortgage-backed securities 624,964 - 624,964 - Loans held for sale 146,766 - 146,766 - Mortgage banking derivative instruments 4,899 - 4,899 - Total recurring assets at fair value $ 970,358 $ - $ 968,858 $ 1,500 Financial liabilities: Derivative financial instruments $ 867 $ - $ 867 $ - Mortgage banking derivative instruments 306 - 306 - Total recurring liabilities at fair value $ 1,173 $ - $ 1,173 $ - Fair Value Measurements on a Recurring Basis As of December 31, 2016 (dollars in thousands) Fair Value Level 1 Level 2 Level 3 Financial assets: U.S. government sponsored agencies $ 1,020 $ - $ 1,020 $ - State, county and municipal securities 152,035 - 152,035 - Corporate debt securities 32,172 - 30,672 1,500 Mortgage-backed securities 637,508 - 637,508 - Loans held for sale 105,924 - 105,924 - Mortgage banking derivative instruments 4,314 - 4,314 - Total recurring assets at fair value $ 932,973 $ - $ 931,473 $ 1,500 Financial liabilities: Derivative financial instruments $ 978 $ - $ 978 $ - Total recurring liabilities at fair value $ 978 $ - $ 978 $ - Fair Value Measurements on a Nonrecurring Basis (dollars in thousands) Fair Value Level 1 Level 2 Level 3 June 30, 2017 Impaired loans carried at fair value $ 26,605 $ - $ - $ 26,605 Other real estate owned 453 - - 453 Purchased other real estate owned 11,330 - - 11,330 Total nonrecurring assets at fair value $ 38,388 $ - $ - $ 38,388 December 31, 2016 Impaired loans carried at fair value $ 28,253 $ - $ - $ 28,253 Other real estate owned 1,172 - - 1,172 Purchased other real estate owned 12,540 - - 12,540 Total nonrecurring assets at fair value $ 41,965 $ - $ - $ 41,965 The inputs used to determine estimated fair value of impaired loans include market conditions, loan terms, underlying collateral characteristics and discount rates. The inputs used to determine fair value of other real estate owned include market conditions, estimated marketing period or holding period, underlying collateral characteristics and discount rates. For the six months ended June 30, 2017 and the year ended December 31, 2016, there was not a change in the methods and significant assumptions used to estimate fair value. Weighted Range of Average (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Discounts Discount June 30, 2017 Recurring: Investment securities available for sale $ 1,500 Discounted par values Credit quality of underlying issuer 0% 0% Nonrecurring: Impaired loans $ 26,605 Third-party appraisals and discounted cash flows Collateral discounts and discount rates 11% - 100% 29% Other real estate owned $ 453 Third-party appraisals, sales contracts, broker price opinions Collateral discounts and estimated costs to sell 15% - 45% 17% Purchased other real estate owned $ 11,330 Third-party appraisals Collateral discounts and estimated costs to sell 10% - 74% 14% December 31, 2016 Recurring: Investment securities available for sale $ 1,500 Discounted par values Credit quality of underlying issuer 0% 0% Nonrecurring: Impaired loans $ 28,253 Third-party appraisals and discounted cash flows Collateral discounts and discount rates 15% - 100% 28% Other real estate owned $ 1,172 Third-party appraisals, sales contracts, broker price opinions Collateral discounts and estimated costs to sell 15% - 74% 22% Purchased other real estate owned $ 12,540 Third-party appraisals Collateral discounts and estimated costs to sell 10% - 74% 15% Fair Value Measurements at June 30, 2017 Using: Carrying (dollars in thousands) Amount Level 1 Level 2 Level 3 Total Financial assets: Cash and due from banks $ 139,500 $ 139,500 $ - $ - $ 139,500 Federal funds sold and interest-bearing accounts 137,811 137,811 - - 137,811 Loans, net 5,619,135 - - 5,609,246 5,609,246 Accrued interest receivable 22,006 22,006 - - 22,006 Financial liabilities: Deposits $ 5,793,397 $ - $ 5,793,319 $ - $ 5,793,319 Securities sold under agreements to repurchase 18,400 18,400 - - 18,400 Other borrowings 679,591 - 680,861 - 680,861 Subordinated deferrable interest debentures 84,889 - 69,471 - 69,471 FDIC loss-share payable 7,992 - - 9,014 9,014 Accrued interest payable 3,167 3,167 - - 3,167 Fair Value Measurements at December 31, 2016 Using: Carrying (dollars in thousands) Amount Level 1 Level 2 Level 3 Total Financial assets: Cash and due from banks $ 127,164 $ 127,164 $ - $ - $ 127,164 Federal funds sold and interest-bearing accounts 71,221 71,221 - - 71,221 Loans, net 5,212,153 - - 5,236,034 5,236,034 Accrued interest receivable 22,278 22,278 - - 22,278 Financial liabilities: Deposits $ 5,575,163 $ - $ 5,575,288 $ - $ 5,575,288 Securities sold under agreements to repurchase 53,505 53,505 - - 53,505 Other borrowings 492,321 - 492,321 - 492,321 Subordinated deferrable interest debentures 84,228 - 67,321 - 67,321 FDIC loss-share payable 6,313 - - 8,243 8,243 Accrued interest payable 1,501 1,501 - - 1,501 |
SEGMENT REPORTING
SEGMENT REPORTING | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
SEGMENT REPORTING | NOTE 14 SEGMENT REPORTING The Company has the following five reportable segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division and Premium Finance Division. The Banking Division derives its revenues from the delivery of full-service financial services, including commercial loans, consumer loans and deposit accounts. The Retail Mortgage Division derives its revenues from the origination, sales and servicing of one-to-four family residential mortgage loans. The Warehouse Lending Division derives its revenues from the origination and servicing of warehouse lines to other businesses that are secured by underlying one-to-four family residential mortgage loans. The SBA Division derives its revenues from the origination, sales and servicing of SBA loans. The Premium Finance Division derives its revenues from the origination and servicing of commercial insurance premium finance loans. The Banking, Retail Mortgage, Warehouse Lending, SBA and Premium Finance Divisions are managed as separate business units because of the different products and services they provide. The Company evaluates performance and allocates resources based on profit or loss from operations. There are no material intersegment sales or transfers. Three Months Ended June 30, 2017 Retail Warehouse Premium Banking Mortgage Lending SBA Finance (dollars in thousands) Division Division Division Division Division Total Interest income $ 56,694 $ 4,974 $ 1,613 $ 1,258 $ 6,872 $ 71,411 Interest expense 4,894 1,504 359 373 1,124 8,254 Net interest income 51,800 3,470 1,254 885 5,748 63,157 Provision for loan losses 1,491 347 176 51 140 2,205 Noninterest income 12,954 13,053 438 1,718 26 28,189 Noninterest expense Salaries and employee benefits 19,359 7,763 127 890 993 29,132 Equipment and occupancy expenses 5,427 610 1 54 54 6,146 Data processing and telecommunications expenses 6,378 440 25 2 183 7,028 Other expenses 10,209 888 54 259 2,023 13,433 Total noninterest expense 41,373 9,701 207 1,205 3,253 55,739 Income before income tax expense 21,890 6,475 1,309 1,347 2,381 33,402 Income tax expense 6,095 2,361 472 472 915 10,315 Net income $ 15,795 $ 4,114 $ 837 $ 875 $ 1,466 $ 23,087 Total assets $ 6,186,980 $ 475,599 $ 174,149 $ 80,909 $ 480,221 $ 7,397,858 Goodwill 125,532 - - - - 125,532 Other intangible assets, net 15,378 - - - - 15,378 Three Months Ended June 30, 2016 Retail Warehouse Premium Banking Mortgage Lending SBA Finance (dollars in thousands) Division Division Division Division Division Total Interest income $ 53,534 $ 3,293 $ 1,622 $ 891 $ - $ 59,340 Interest expense 3,714 739 141 157 - 4,751 Net interest income 49,820 2,554 1,481 734 - 54,589 Provision for loan losses 733 93 - 63 - 889 Noninterest income 13,018 13,304 440 1,617 - 28,379 Noninterest expense Salaries and employee benefits 18,428 8,304 108 691 - 27,531 Equipment and occupancy expenses 5,901 405 1 64 - 6,371 Data processing and telecommunications expenses 5,685 338 25 1 - 6,049 Other expenses 11,071 1,133 26 178 - 12,408 Total noninterest expense 41,085 10,180 160 934 - 52,359 Income before income tax expense 21,020 5,585 1,761 1,354 - 29,720 Income tax expense 6,626 1,955 616 474 - 9,671 Net income $ 14,394 $ 3,630 $ 1,145 $ 880 $ - $ 20,049 Total assets $ 5,691,976 $ 306,932 $ 150,823 $ 71,563 $ - $ 6,221,294 Goodwill 121,422 - - - - 121,422 Other intangible assets, net 20,574 - - - - 20,574 June 30, 2017 Retail Warehouse Premium Banking Mortgage Lending SBA Finance (dollars in thousands) Division Division Division Division Division Total Interest income $ 110,906 $ 9,028 $ 2,946 $ 2,471 $ 13,110 $ 138,461 Interest expense 8,980 2,582 587 679 1,886 14,714 Net interest income 101,926 6,446 2,359 1,792 11,224 123,747 Provision for loan losses 3,473 355 (56) 99 170 4,041 Noninterest income 25,967 23,566 757 3,533 72 53,895 Noninterest expense Salaries and employee benefits 38,203 14,979 274 1,481 1,989 56,926 Equipment and occupancy expenses 10,684 1,129 2 105 103 12,023 Data processing and telecommunications expenses 12,421 757 52 3 367 13,600 Other expenses 19,450 2,029 86 470 4,248 26,283 Total noninterest expense 80,758 18,894 414 2,059 6,707 108,832 Income before income tax expense 43,662 10,763 2,758 3,167 4,419 64,769 Income tax expense 12,951 3,862 979 1,109 1,628 20,529 Net income $ 30,711 $ 6,901 $ 1,779 $ 2,058 $ 2,791 $ 44,240 Six Months Ended June 30, 2016 Retail Warehouse Premium Banking Mortgage Lending SBA Finance (dollars in thousands) Division Division Division Division Division Total Interest income $ 103,313 $ 6,313 $ 2,641 $ 1,632 $ - $ 113,899 Interest expense 7,010 1,329 233 302 - 8,874 Net interest income 96,303 4,984 2,408 1,330 - 105,025 Provision for loan losses 1,414 93 - 63 - 1,570 Noninterest income 25,753 22,928 773 3,211 - 52,665 Noninterest expense Salaries and employee benefits 37,417 14,651 296 1,354 - 53,718 Equipment and occupancy expenses 11,051 893 2 125 - 12,071 Data processing and telecommunications expenses 11,505 610 45 2 - 12,162 Other expenses 27,507 2,089 51 361 - 30,008 Total noninterest expense 87,480 18,243 394 1,842 - 107,959 Income before income tax expense 33,162 9,576 2,787 2,636 - 48,161 Income tax expense 10,545 3,352 975 923 - 15,795 Net income $ 22,617 $ 6,224 $ 1,812 $ 1,713 $ - $ 32,366 |
REGULATORY MATTERS
REGULATORY MATTERS | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
REGULATORY MATTERS | NOTE 15 REGULATORY MATTERS On December 16, 2016, the Bank entered into a Stipulation to the Issuance of a Consent Order with its bank regulatory agencies, the FDIC and the Georgia Department of Banking and Finance (the “GDBF”), consenting to the issuance of a consent order (the “Order”) relating to the Bank’s Bank Secrecy Act (together with its implementing regulations, the “BSA”) compliance program. In consenting to the issuance of the Order, the Bank did not admit or deny any charges of unsafe or unsound banking practices related to its BSA compliance program. Under the terms of the Order, the Bank or its board of directors is required to take certain affirmative actions to comply with the Bank’s obligations under the BSA. These include, but are not limited to, the following: strengthening the board of directors’ oversight of BSA activities; enhancing and adopting a revised BSA compliance program; completing a BSA risk assessment; developing a revised system of internal controls designed to ensure full compliance with the BSA; reviewing and revising customer due diligence and risk assessment processes, policies and procedures; developing, adopting and implementing effective BSA training programs; assessing BSA staffing needs and resources and appointing a qualified BSA officer; establishing an independent BSA testing program; ensuring that all reports required by the BSA are accurately and properly filed; and engaging an independent firm to review past account activity to determine whether suspicious activity was properly identified and reported. Prior to implementation, certain of the actions required by the Order were subject to review by, and approval or non-objection from, the FDIC and the GDBF. The Order will remain in effect and be enforceable until it is modified, terminated, suspended or set aside by the FDIC and the GDBF. The Bank expects that it will continue to meet the required actions within the time periods specified in the Order based upon ongoing communications with its regulators. |
BASIS OF PRESENTATION AND ACC24
BASIS OF PRESENTATION AND ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Nature of Business | Nature of Business Ameris Bancorp (the “Company” or “Ameris”) is a financial holding company headquartered in Moultrie, Georgia. Ameris conducts substantially all of its operations through its wholly owned banking subsidiary, Ameris Bank (the “Bank”). At June 30, 2017, the Bank operated 97 branches in select markets in Georgia, Alabama, Florida and South Carolina. Our business model capitalizes on the efficiencies of a large financial services company while still providing the community with the personalized banking service expected by our customers. We manage our Bank through a balance of decentralized management responsibilities and efficient centralized operating systems, products and loan underwriting standards. The Company’s Board of Directors and senior managers establish corporate policy, strategy and administrative policies. Within our established guidelines and policies, the banker closest to the customer responds to the differing needs and demands of his or her unique market. |
Basis of Presentation and Accounting Estimates | Basis of Presentation The accompanying unaudited consolidated financial statements for Ameris have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statement presentation. The interim consolidated financial statements included herein are unaudited but reflect all adjustments (consisting of normal recurring accruals) which, in the opinion of management, are necessary for a fair presentation of the consolidated financial position and results of operations for the interim periods presented. All significant intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the period ended June 30, 2017 are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the financial statements and notes thereto and the report of our registered independent public accounting firm included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. |
Other Investments | Accounting Policy Update Other Investments Other investments include Federal Home Loan Bank (“FHLB”) stock, Federal Reserve Bank stock and a minority equity investment in US Premium Finance Holding Company, a Florida corporation (“USPF”). These investments do not have readily determinable fair values and are carried at cost. They are periodically reviewed for impairment based on ultimate recovery of par value or cost basis. Both stock and cash dividends are reported as income. For additional information regarding the Company’s minority equity investment in USPF, see Note 2. |
Reclassifications | Reclassifications Certain reclassifications of prior year amounts have been made to conform with the current year presentations. |
New Accounting Standards | Accounting Standards Adopted in 2017 ASU 2016-09 Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”) ASU 2017-09 “Compensation Stock Compensation (Topic 718): Scope of Modification Accounting (“ASU 2017-09”) ASU 2017-08 “Receivables Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities ASU 2017-04 Intangibles: Goodwill and Other: Simplifying the Test for Goodwill Impairment ASU 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business ASU 2016-13 - Financial InstrumentsCredit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ASU 2016-02 Leases (Topic 842) ASU 2014-09 Revenue from Contracts with Customers |
INVESTMENT IN US PREMIUM FINA25
INVESTMENT IN US PREMIUM FINANCE HOLDING COMPANY (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Cost Method Investments Disclosure [Abstract] | |
Equity Method Investments | The Company’s 4.99% investment in USPF was valued at $ 5.8 (dollars in thousands, except per share amount) Ameris common shares issued 128,572 Price per share of the Company's common stock $ 45.45 Fair value of consideration transferred $ 5,844 |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale | The amortized cost and estimated fair value of investment securities available for sale, along with unrealized gains and losses, are summarized as follows: Gross Gross Estimated Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value June 30, 2017 U.S. government sponsored agencies $ 1,000 $ 9 $ - $ 1,009 State, county and municipal securities 142,028 3,166 (86) 145,108 Corporate debt securities 47,252 552 (192) 47,612 Mortgage-backed securities 626,400 2,828 (4,264) 624,964 Total debt securities $ 816,680 $ 6,555 $ (4,542) $ 818,693 December 31, 2016 U.S. government sponsored agencies $ 999 $ 21 $ - $ 1,020 State, county and municipal securities 149,899 2,605 (469) 152,035 Corporate debt securities 32,375 167 (370) 32,172 Mortgage-backed securities 641,362 2,700 (6,554) 637,508 Total debt securities $ 824,635 $ 5,493 $ (7,393) $ 822,735 |
Amortized Cost and Fair Value of Available for Sale Securities by Contractual Maturity | The amortized cost and fair value of available-for-sale securities at June 30, 2017 by contractual maturity are summarized in the table below. Expected maturities for mortgage-backed securities may differ from contractual maturities because in certain cases borrowers can prepay obligations without prepayment penalties. Therefore, these securities are not included in the following maturity summary. Estimated Amortized Fair (dollars in thousands) Cost Value Due in one year or less $ 15,505 $ 15,660 Due from one year to five years 56,978 57,730 Due from five to ten years 73,838 75,578 Due after ten years 43,959 44,761 Mortgage-backed securities 626,400 624,964 $ 816,680 $ 818,693 |
Schedule of Gross Unrealized Losses and Fair Value of Securities | The following table details the gross unrealized losses and fair value of securities aggregated by category and duration of continuous unrealized loss position at June 30, 2017 and December 31, 2016. Less Than 12 Months 12 Months or More Total Estimated Estimated Estimated Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) Value Losses Value Losses Value Losses June 30, 2017 U.S. government sponsored agencies $ - $ - $ - $ - $ - $ - State, county and municipal securities 13,920 (86) - - 13,920 (86) Corporate debt securities 18,966 (182) 490 (10) 19,456 (192) Mortgage-backed securities 356,690 (3,696) 26,082 (568) 382,772 (4,264) Total debt securities $ 389,576 $ (3,964) $ 26,572 $ (578) $ 416,148 $ (4,542) December 31, 2016 U.S. government sponsored agencies $ - $ - $ - $ - $ - $ - State, county and municipal securities 47,647 (469) - - 47,647 (469) Corporate debt securities 18,377 (363) 493 (7) 18,870 (370) Mortgage-backed securities 414,300 (6,177) 11,791 (377) 426,091 (6,554) Total debt securities $ 480,324 $ (7,009) $ 12,284 $ (384) $ 492,608 $ (7,393) |
Gross Realized Gains And Losses On Sales Of Available For Sale Securities | The following table is a summary of sales activities in the Company’s investment securities available for sale for the six months ended June 30, 2017 and 2016: June 30, June 30, (dollars in thousands) 2017 2016 Gross gains on sales of securities $ 38 $ 313 Gross losses on sales of securities (1) (219) Net realized gains on sales of securities available for sale $ 37 $ 94 Sales proceeds $ 3,090 $ 46,731 |
LOANS (Tables)
LOANS (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Schedule of Accounts Notes Loans and Financial Receivables | Loans are stated at unpaid balances, net of unearned income and deferred loan fees. Balances within the major loans receivable categories are presented in the following table, excluding purchased loans: June 30, December 31, (dollars in thousands) 2017 2016 Commercial, financial and agricultural $ 1,218,633 $ 967,138 Real estate construction and development 486,858 363,045 Real estate commercial and farmland 1,519,002 1,406,219 Real estate residential 857,069 781,018 Consumer installment 147,505 96,915 Other 1,161 12,486 $ 4,230,228 $ 3,626,821 |
Summary of Purchased Loans And Major Loan Categories | Purchased loans are shown below according to major loan type as of the end of the periods shown: June 30, December 31, (dollars in thousands) 2017 2016 Commercial, financial and agricultural $ 87,612 $ 96,537 Real estate construction and development 73,567 81,368 Real estate commercial and farmland 510,312 576,355 Real estate residential 275,504 310,277 Consumer installment 3,504 4,654 $ 950,499 $ 1,069,191 |
Rollforward of Acquired Loans | A rollforward of purchased loans for the six months ended June 30, 2017 and 2016 is shown below: June 30, June 30, (dollars in thousands) 2017 2016 Balance, January 1 $ 1,069,191 $ 909,083 Charge-offs, net of recoveries (1,860) (1,181) Additions due to acquisitions - 401,085 Accretion 6,165 8,844 Transfers to purchased other real estate owned (3,281) (3,420) Payments received (119,716) (120,866) Other - 90 Ending balance $ 950,499 $ 1,193,635 |
Schedule of Changes in Accretable Discounts Related Acquired Loans | The following is a summary of changes in the accretable discounts of purchased loans during the six months ended June 30, 2017 and 2016: June 30, June 30, (dollars in thousands) 2017 2016 Balance, January 1 $ 30,624 $ 33,848 Additions due to acquisitions - 9,991 Accretion (6,165) (8,844) Accretable discounts removed due to charge-offs (13) (11) Transfers between non-accretable and accretable discounts, net 807 1,461 Ending balance $ 25,253 $ 36,445 |
Schedule of Allowances for Loan Losses by Portfolio Segment | The following tables detail activity in the allowance for loan losses by portfolio segment for the three and six-month periods ended June 30, 2017, the year ended December 31, 2016 and the three and six-month periods ended June 30, 2016. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Consumer Commercial, Real Estate Real Estate Installment Purchased Financial & Construction & Commercial & Real Estate Loans and Purchased Loan (dollars in thousands) Agricultural Development Farmland Residential Other Loans Pools Total Three months ended June 30, 2017: Balance, March 31, 2017 $ 2,798 $ 3,597 $ 7,879 $ 5,840 $ 854 $ 2,196 $ 2,086 $ 25,250 Provision for loan losses 984 102 255 655 695 (23) (463) 2,205 Loans charged off (701) (41) (386) (963) (438) (755) - (3,284) Recoveries of loans previously charged off 221 98 121 73 44 373 - 930 Balance, June 30, 2017 $ 3,302 $ 3,756 $ 7,869 $ 5,605 $ 1,155 $ 1,791 $ 1,623 $ 25,101 Six months ended June 30, 2017: Balance, December 31, 2016 $ 2,192 $ 2,990 $ 7,662 $ 6,786 $ 827 $ 1,626 $ 1,837 $ 23,920 Provision for loan losses 1,625 742 472 (136) 869 683 (214) 4,041 Loans charged off (805) (94) (395) (1,179) (602) (1,311) - (4,386) Recoveries of loans previously charged off 290 118 130 134 61 793 - 1,526 Balance, June 30, 2017 $ 3,302 $ 3,756 $ 7,869 $ 5,605 $ 1,155 $ 1,791 $ 1,623 $ 25,101 Period-end allocation: Loans individually evaluated for impairment (1) $ 691 $ 174 $ 1,437 $ 1,748 $ - $ 1,791 $ 180 $ 6,021 Loans collectively evaluated for impairment 2,611 3,582 6,432 3,857 1,155 - 1,443 19,080 Ending balance $ 3,302 $ 3,756 $ 7,869 $ 5,605 $ 1,155 $ 1,791 $ 1,623 $ 25,101 Loans: Individually evaluated for impairment (1) $ 2,418 $ 636 $ 10,814 $ 8,282 $ - $ 27,598 $ 918 $ 50,666 Collectively evaluated for impairment 1,216,215 486,222 1,508,188 848,787 148,666 794,706 489,196 5,491,980 Acquired with deteriorated credit quality - - - - - 128,195 - 128,195 Ending balance $ 1,218,633 $ 486,858 $ 1,519,002 $ 857,069 $ 148,666 $ 950,499 $ 490,114 $ 5,670,841 (1) At June 30, 2017, loans individually evaluated for impairment includes all nonaccrual loans greater than $ 100,000 100,000 Consumer Commercial, Real Estate Real Estate Installment Purchased Financial & Construction & Commercial & Real Estate - Loans and Purchased Loan (dollars in thousands) Agricultural Development Farmland Residential Other Loans Pools Total Twelve months ended December 31, 2016: Balance, January 1, 2016 $ 1,144 $ 5,009 $ 7,994 $ 4,760 $ 1,574 $ - $ 581 $ 21,062 Provision for loan losses 2,647 (1,921) 107 2,757 (523) (232) 1,256 4,091 Loans charged off (1,999) (588) (708) (1,122) (351) (1,559) - (6,327) Recoveries of loans previously charged off 400 490 269 391 127 3,417 - 5,094 Balance, December 31, 2016 $ 2,192 $ 2,990 $ 7,662 $ 6,786 $ 827 $ 1,626 $ 1,837 $ 23,920 Period-end allocation: Loans individually evaluated for impairment (1) $ 120 $ 266 $ 1,502 $ 2,893 $ - $ 1,626 $ - $ 6,407 Loans collectively evaluated for impairment 2,072 2,724 6,160 3,893 827 - 1,837 17,513 Ending balance $ 2,192 $ 2,990 $ 7,662 $ 6,786 $ 827 $ 1,626 $ 1,837 $ 23,920 Loans: Individually evaluated for impairment (1) $ 501 $ 659 $ 12,423 $ 12,697 $ - $ 34,141 $ - $ 60,421 Collectively evaluated for impairment 966,637 362,386 1,393,796 768,321 109,401 886,516 568,314 5,055,371 Acquired with deteriorated credit quality - - - - - 148,534 - 148,534 Ending balance $ 967,138 $ 363,045 $ 1,406,219 $ 781,018 $ 109,401 $ 1,069,191 $ 568,314 $ 5,264,326 (1) At December 31, 2016, loans individually evaluated for impairment includes all nonaccrual loans greater than $ 100,000 100,000 Consumer Commercial, Real Estate Real Estate Installment Purchased Financial & Construction & Commercial & Real Estate - Loans and Purchased Loan (dollars in thousands) Agricultural Development Farmland Residential Other Loans Pools Total Three months ended June 30, 2016: Balance, March 31, 2016 $ 1,599 $ 3,925 $ 7,099 $ 4,631 $ 1,939 $ 983 $ 1,306 $ 21,482 Provision for loan losses 522 (438) 664 (259) 264 243 (107) 889 Loans charged off (541) (109) (361) (123) (59) (183) - (1,376) Recoveries of loans previously charged off 87 221 57 14 16 344 - 739 Balance, June 30, 2016 $ 1,667 $ 3,599 $ 7,459 $ 4,263 $ 2,160 $ 1,387 $ 1,199 $ 21,734 Six months ended June 30, 2016: Balance, December 31, 2015 $ 1,144 $ 5,009 $ 7,994 $ 4,760 $ 1,574 $ - $ 581 $ 21,062 Provision for loan losses 1,310 (1,489) (5) (234) 663 707 618 1,570 Loans charged off (947) (264) (708) (591) (118) (562) - (3,190) Recoveries of loans previously charged off 160 343 178 328 41 1,242 - 2,292 Balance, June 30, 2016 $ 1,667 $ 3,599 $ 7,459 $ 4,263 $ 2,160 $ 1,387 $ 1,199 $ 21,734 Period-end allocation: Loans individually evaluated for impairment (1) $ 137 $ 690 $ 997 $ 2,339 $ - $ 1,387 $ - $ 5,550 Loans collectively evaluated for impairment 1,530 2,909 6,462 1,924 2,160 - 1,199 16,184 Ending balance $ 1,667 $ 3,599 $ 7,459 $ 4,263 $ 2,160 $ 1,387 $ 1,199 $ 21,734 Loans: Individually evaluated for impairment (1) $ 819 $ 1,465 $ 11,870 $ 10,345 $ - $ 41,751 $ - $ 66,250 Collectively evaluated for impairment 563,524 273,252 1,236,710 669,888 51,198 978,135 610,425 4,383,132 Acquired with deteriorated credit quality - - - - - 173,749 - 173,749 Ending balance $ 564,343 $ 274,717 $ 1,248,580 $ 680,233 $ 51,198 $ 1,193,635 $ 610,425 $ 4,623,131 (1) At June 30, 2016, loans individually evaluated for impairment includes all nonaccrual loans greater than $ 100,000 100,000 |
Purchased Loans [Member] | |
Summary of Financial Receivable Nonaccrual Basis | The following table presents an analysis of purchased loans accounted for on a nonaccrual basis: June 30, December 31, (dollars in thousands) 2017 2016 Commercial, financial and agricultural $ 169 $ 692 Real estate construction and development 2,463 2,611 Real estate commercial and farmland 6,624 10,174 Real estate residential 8,074 9,476 Consumer installment 27 13 $ 17,357 $ 22,966 |
Summary of Past Due Financial Receivables | The following table presents an analysis of purchased past-due loans as of June 30, 2017 and December 31, 2016: Loans 90 Days or Loans Loans Loans 90 More Past 30-59 60-89 or More Total Due and Days Past Days Days Past Loans Current Total Still (dollars in thousands) Due Past Due Due Past Due Loans Loans Accruing June 30, 2017 Commercial, financial & agricultural $ 171 $ - $ 152 $ 323 $ 87,289 $ 87,612 $ - Real estate construction & development 322 81 1,830 2,233 71,334 73,567 - Real estate commercial & farmland 1,084 46 2,260 3,390 506,922 510,312 - Real estate residential 985 1,353 5,256 7,594 267,910 275,504 147 Consumer installment loans 28 - 16 44 3,460 3,504 - Total $ 2,590 $ 1,480 $ 9,514 $ 13,584 $ 936,915 $ 950,499 $ 147 December 31, 2016 Commercial, financial & agricultural $ 113 $ 18 $ 593 $ 724 $ 95,813 $ 96,537 $ - Real estate construction & development 161 11 2,518 2,690 78,678 81,368 - Real estate commercial & farmland 2,034 326 7,152 9,512 566,843 576,355 - Real estate residential 4,566 698 6,835 12,099 298,178 310,277 - Consumer installment loans 22 - 13 35 4,619 4,654 - Total $ 6,896 $ 1,053 $ 17,111 $ 25,060 $ 1,044,131 $ 1,069,191 $ - |
Summary of Impaired Financial Receivables | As of and for the Period Ended June 30, December 31, June 30, (dollars in thousands) 2017 2016 2016 Nonaccrual loans $ 17,357 $ 22,966 $ 26,736 Troubled debt restructurings not included above 21,020 23,543 20,642 Total impaired loans $ 38,377 $ 46,509 $ 47,378 Quarter-to-date interest income recognized on impaired loans $ 374 $ 377 $ 343 Year-to-date interest income recognized on impaired loans $ 753 $ 2,755 $ 885 Quarter-to-date foregone interest income on impaired loans $ 265 $ 354 $ 412 Year-to-date foregone interest income on impaired loans $ 601 $ 1,637 $ 938 The following table presents an analysis of information pertaining to purchased impaired loans as of June 30, 2017, December 31, 2016 and June 30, 2016: Three Six Unpaid Recorded Recorded Month Month Contractual Investment Investment Total Average Average Principal With No With Recorded Related Recorded Recorded (dollars in thousands) Balance Allowance Allowance Investment Allowance Investment Investment June 30, 2017 Commercial, financial & agricultural $ 1,679 $ 163 $ 6 $ 169 $ - $ 273 $ 412 Real estate construction & development 8,296 524 2,967 3,491 257 3,491 3,650 Real estate commercial & farmland 16,987 2,418 11,616 14,034 771 16,167 16,989 Real estate residential 24,219 7,647 13,009 20,656 763 21,262 21,904 Consumer installment loans 36 27 - 27 - 24 24 Total $ 51,217 $ 10,779 $ 27,598 $ 38,377 $ 1,791 $ 41,217 $ 42,979 Three Twelve Unpaid Recorded Recorded Month Month Contractual Investment Investment Total Average Average Principal With No With Recorded Related Recorded Recorded (dollars in thousands) Balance Allowance Allowance Investment Allowance Investment Investment December 31, 2016 Commercial, financial & agricultural $ 5,031 $ 370 $ 322 $ 692 $ - $ 783 $ 2,206 Real estate construction & development 24,566 493 3,477 3,970 153 3,888 4,279 Real estate commercial & farmland 36,174 3,598 15,036 18,634 385 17,806 19,872 Real estate residential 27,022 7,883 15,306 23,189 1,088 23,201 23,163 Consumer installment loans 37 24 - 24 - 51 96 Total $ 92,830 $ 12,368 $ 34,141 $ 46,509 $ 1,626 $ 45,729 $ 49,616 Three Six Unpaid Recorded Recorded Month Month Contractual Investment Investment Total Average Average Principal With No With Recorded Related Recorded Recorded (dollars in thousands) Balance Allowance Allowance Investment Allowance Investment Investment June 30, 2016 Commercial, financial & agricultural $ 2,976 $ 802 $ - $ 802 $ - $ 2,132 $ 2,710 Real estate construction & development 10,082 1,538 2,550 4,088 223 4,273 4,164 Real estate commercial & farmland 27,234 4,202 15,211 19,413 690 21,581 20,433 Real estate residential 26,781 12,099 10,894 22,993 474 22,604 22,786 Consumer installment loans 103 82 - 82 - 109 114 Total $ 67,176 $ 18,723 $ 28,655 $ 47,378 $ 1,387 $ 50,699 $ 50,207 |
Summary of Credit Quality Indicate Financial Receivable | The following table presents the purchased loan portfolio by risk grade as of June 30, 2017 and December 31, 2016 (in thousands): Risk Commercial, Real Estate - Real Estate - Real Estate - Consumer Other Total June 30, 2017 10 $ 5,202 $ - $ - $ - $ 757 $ - $ 5,959 15 4,890 - 6,210 27,943 348 - 39,391 20 12,311 12,289 190,506 111,033 1,310 - 327,449 23 22 2,553 8,139 11,344 - - 22,058 25 51,611 46,179 261,911 99,248 954 - 459,903 30 11,359 9,215 14,545 6,693 57 - 41,869 40 2,217 3,331 29,001 19,243 78 - 53,870 50 - - - - - - - 60 - - - - - - - Total $ 87,612 $ 73,567 $ 510,312 $ 275,504 $ 3,504 $ - $ 950,499 December 31, 2016 10 $ 5,722 $ - $ - $ - $ 814 $ - $ 6,536 15 1,266 - 7,619 31,331 570 - 40,786 20 16,204 10,686 194,168 111,712 1,583 - 334,353 23 22 3,643 9,019 14,791 - - 27,475 25 67,123 56,006 323,242 121,379 1,276 - 569,026 30 5,072 7,271 15,039 7,605 45 - 35,032 40 1,128 3,762 27,268 23,459 366 - 55,983 50 - - - - - - - 60 - - - - - - - Total $ 96,537 $ 81,368 $ 576,355 $ 310,277 $ 4,654 $ - $ 1,069,191 |
Summary of Troubled Debt Restructurings by Loan Class | The following table presents the purchased loans by class modified as troubled debt restructurings, which occurred during the six months ending June 30, 2017 and 2016: June 30, 2017 June 30, 2016 Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural 1 $ 6 1 $ 76 Real estate construction & development - - - - Real estate commercial & farmland 4 1,323 2 492 Real estate residential 4 578 3 662 Consumer installment - - - - Total 9 $ 1,907 6 $ 1,230 |
Troubled Debt Restructurings on Financing Receivable Payment Default | The following table presents purchased loan troubled debt restructurings by class that defaulted (defined as 30 days past due) during the six months ending June 30, 2017 and 2016: June 30, 2017 June 30, 2016 Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural 1 $ 6 2 $ 76 Real estate construction & development - - 2 402 Real estate commercial & farmland 1 226 - - Real estate residential 4 138 6 919 Consumer installment 1 3 - - Total 7 $ 373 10 $ 1,397 |
Loans Excluding Purchased Loan [Member] | |
Summary of Financial Receivable Nonaccrual Basis | June 30, December 31, (dollars in thousands) 2017 2016 Commercial, financial and agricultural $ 2,463 $ 1,814 Real estate construction and development 770 547 Real estate commercial and farmland 6,004 8,757 Real estate residential 7,342 6,401 Consumer installment 504 595 $ 17,083 $ 18,114 |
Summary of Past Due Financial Receivables | The following table presents an analysis of past-due loans, excluding purchased past-due loans as of June 30, 2017 and December 31, 2016: Loans 90 Days or Loans Loans Loans 90 More Past 30-59 60-89 or More Total Due and Days Past Days Days Past Loans Current Total Still (dollars in thousands) Due Past Due Due Past Due Loans Loans Accruing June 30, 2017 Commercial, financial & agricultural $ 6,343 $ 2,298 $ 3,919 $ 12,560 $ 1,206,073 $ 1,218,633 $ 1,784 Real estate construction & development 205 12 751 968 485,890 486,858 - Real estate commercial & farmland 1,311 366 5,602 7,279 1,511,723 1,519,002 - Real estate residential 2,833 1,174 5,432 9,439 847,630 857,069 - Consumer installment loans 575 188 294 1,057 146,448 147,505 - Other - - - - 1,161 1,161 - Total $ 11,267 $ 4,038 $ 15,998 $ 31,303 $ 4,198,925 $ 4,230,228 $ 1,784 December 31, 2016 Commercial, financial & agricultural $ 565 $ 82 $ 1,293 $ 1,940 $ 965,198 $ 967,138 $ - Real estate construction & development 908 446 439 1,793 361,252 363,045 - Real estate commercial & farmland 6,329 1,711 6,945 14,985 1,391,234 1,406,219 - Real estate residential 6,354 1,282 5,302 12,938 768,080 781,018 - Consumer installment loans 624 263 350 1,237 95,678 96,915 - Other - - - - 12,486 12,486 - Total $ 14,780 $ 3,784 $ 14,329 $ 32,893 $ 3,593,928 $ 3,626,821 $ - |
Summary of Impaired Financial Receivables | The following is a summary of information pertaining to impaired loans, excluding purchased loans: As of and for the Period Ended June 30, December 31, June 30, (dollars in thousands) 2017 2016 2016 Nonaccrual loans $ 17,083 $ 18,114 $ 16,003 Troubled debt restructurings not included above 12,169 14,209 14,795 Total impaired loans $ 29,252 $ 32,323 $ 30,798 Quarter-to-date interest income recognized on impaired loans $ 320 $ 225 $ 238 Year-to-date interest income recognized on impaired loans $ 560 $ 1,033 $ 556 Quarter-to-date foregone interest income on impaired loans $ 247 $ 267 $ 230 Year-to-date foregone interest income on impaired loans $ 521 $ 977 $ 471 The following table presents an analysis of information pertaining to impaired loans, excluding purchased loans as of June 30, 2017, December 31, 2016 and June 30, 2016: Three Six Unpaid Recorded Recorded Month Month Contractual Investment Investment Total Average Average Principal With No With Recorded Related Recorded Recorded (dollars in thousands) Balance Allowance Allowance Investment Allowance Investment Investment June 30, 2017 Commercial, financial & agricultural $ 4,166 $ 596 $ 1,907 $ 2,503 $ 704 $ 3,113 $ 2,695 Real estate construction & development 1,733 119 1,080 1,199 179 1,123 1,160 Real estate commercial & farmland 11,885 5,940 4,923 10,863 1,436 11,156 11,730 Real estate residential 13,569 2,154 12,017 14,171 1,994 15,946 16,186 Consumer installment loans 583 - 516 516 5 553 572 Total $ 31,936 $ 8,809 $ 20,443 $ 29,252 $ 4,318 $ 31,891 $ 32,343 Three Twelve Unpaid Recorded Recorded Month Month Contractual Investment Investment Total Average Average Principal With No With Recorded Related Recorded Recorded (dollars in thousands) Balance Allowance Allowance Investment Allowance Investment Investment December 31, 2016 Commercial, financial & agricultural $ 3,068 $ 204 $ 1,656 $ 1,860 $ 134 $ 1,613 $ 1,684 Real estate construction & development 2,047 - 1,233 1,233 273 1,590 2,018 Real estate commercial & farmland 13,906 6,811 6,065 12,876 1,503 12,948 12,845 Real estate residential 15,482 2,238 13,503 15,741 3,080 15,525 14,453 Consumer installment loans 671 - 613 613 5 576 506 Total $ 35,174 $ 9,253 $ 23,070 $ 32,323 $ 4,995 $ 32,252 $ 31,506 Three Six Unpaid Recorded Recorded Month Month Contractual Investment Investment Total Average Average Principal With No With Recorded Related Recorded Recorded (dollars in thousands) Balance Allowance Allowance Investment Allowance Investment Investment June 30, 2016 Commercial, financial & agricultural $ 3,786 $ 652 $ 1,453 $ 2,105 $ 150 $ 1,825 $ 1,731 Real estate construction & development 3,141 230 1,826 2,056 697 2,154 2,304 Real estate commercial & farmland 13,592 5,312 7,221 12,533 1,000 12,772 12,777 Real estate residential 14,460 1,329 12,331 13,660 2,369 13,249 13,450 Consumer installment loans 531 - 444 444 8 441 458 Total $ 35,510 $ 7,523 $ 23,275 $ 30,798 $ 4,224 $ 30,441 $ 30,720 |
Summary of Credit Quality Indicate Financial Receivable | The following table presents the loan portfolio, excluding purchased loans, by risk grade as of June 30, 2017 and December 31, 2016 (in thousands): Risk Commercial, Real Estate - Real Estate - Real Estate - Consumer Other Total June 30, 2017 10 $ 475,310 $ - $ 6,384 $ 51 $ 8,769 $ - $ 490,514 15 502,635 1,306 81,494 45,429 277 - 631,141 20 108,940 47,672 996,883 696,382 24,270 1,161 1,875,308 23 349 6,072 3,055 5,906 4 - 15,386 25 120,987 424,915 399,354 89,100 113,430 - 1,147,786 30 5,720 5,217 16,817 4,998 119 - 32,871 40 4,685 1,676 15,015 15,104 636 - 37,116 50 7 - - 99 - - 106 60 - - - - - - - Total $ 1,218,633 $ 486,858 $ 1,519,002 $ 857,069 $ 147,505 $ 1,161 $ 4,230,228 December 31, 2016 10 $ 397,093 $ - $ 8,814 $ 125 $ 8,532 $ - $ 414,564 15 376,323 5,390 102,893 54,136 405 - 539,147 20 97,057 36,307 889,539 609,583 25,026 12,486 1,669,998 23 366 6,803 8,533 7,470 14 - 23,186 25 92,066 307,903 357,151 88,370 62,098 - 907,588 30 144 719 22,986 5,197 126 - 29,172 40 4,089 5,923 16,303 16,038 714 - 43,067 50 - - - 99 - - 99 60 - - - - - - - Total $ 967,138 $ 363,045 $ 1,406,219 $ 781,018 $ 96,915 $ 12,486 $ 3,626,821 |
Summary of Troubled Debt Restructurings by Loan Class | The following table presents the loans by class modified as troubled debt restructurings, excluding purchased loans, which occurred during the six months ending June 30, 2017 and 2016: June 30, 2017 June 30, 2016 Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural - $ - 2 $ 28 Real estate construction & development - - 1 6 Real estate commercial & farmland 4 1,062 4 1,666 Real estate residential 1 77 6 739 Consumer installment 6 31 6 26 Total 11 $ 1,170 19 $ 2,465 |
Summary of Troubled Debt Restructuring by Loan Class, Classified Separately under Restructured Terms | The following table presents the amount of troubled debt restructurings by loan class, excluding purchased loans, classified separately as accrual and nonaccrual at June 30, 2017 and December 31, 2016: June 30, 2017 Accruing Loans Non-Accruing Loans Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural 3 $ 40 15 $ 136 Real estate construction & development 7 429 2 34 Real estate commercial & farmland 16 4,859 4 192 Real estate residential 74 6,829 17 1,975 Consumer installment 7 12 34 133 Total 107 $ 12,169 72 $ 2,470 December 31, 2016 Accruing Loans Non-Accruing Loans Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural 4 $ 47 15 $ 114 Real estate construction & development 8 686 2 34 Real estate commercial & farmland 16 4,119 5 2,970 Real estate residential 82 9,340 15 739 Consumer installment 7 17 32 130 Total 117 $ 14,209 69 $ 3,987 |
Troubled Debt Restructurings on Financing Receivable Payment Default | The following table presents for loans, excluding purchased loans, the troubled debt restructurings by class that defaulted (defined as 30 days past due) during the six months ending June 30, 2017 and 2016: June 30, 2017 June 30, 2016 Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural 2 $ 49 2 $ 7 Real estate construction & development - - - - Real estate commercial & farmland 4 362 2 191 Real estate residential 9 554 6 292 Consumer installment 7 27 1 4 Total 22 $ 992 11 $ 494 |
Accrual And Non Accrual [Member] | Purchased Loans [Member] | |
Summary of Troubled Debt Restructuring by Loan Class, Classified Separately under Restructured Terms | The following table presents the amount of troubled debt restructurings by loan class of purchased loans, classified separately as accrual and nonaccrual at June 30, 2017 and December 31, 2016. June 30, 2017 Accruing Loans Non-Accruing Loans Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural - $ - 4 $ 21 Real estate construction & development 3 1,028 6 356 Real estate commercial & farmland 17 7,410 11 3,935 Real estate residential 120 12,582 32 1,965 Consumer installment - - 2 7 Total 140 $ 21,020 55 $ 6,284 December 31, 2016 Accruing Loans Non-Accruing Loans Balance Balance Loan Class # (in thousands) # (in thousands) Commercial, financial & agricultural 1 $ 1 4 $ 91 Real estate construction & development 6 1,358 3 30 Real estate commercial & farmland 20 8,460 5 2,402 Real estate residential 123 13,713 33 2,077 Consumer installment 3 11 1 - Total 153 $ 23,543 46 $ 4,600 |
ASSETS ACQUIRED IN FDIC-ASSIS28
ASSETS ACQUIRED IN FDIC-ASSISTED ACQUISITIONS (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
Schedule of Acquisition Details | From October 2009 through July 2012, the Company participated in ten FDIC-assisted acquisitions whereby the Company purchased certain failed institutions out of the FDIC’s receivership. These institutions include the following: Bank Acquired Location Branches Date Acquired American United Bank (“AUB”) Lawrenceville, Ga. 1 October 23, 2009 United Security Bank (“USB”) Sparta, Ga. 2 November 6, 2009 Satilla Community Bank (“SCB”) St. Marys, Ga. 1 May 14, 2010 First Bank of Jacksonville (“FBJ”) Jacksonville, Fl. 2 October 22, 2010 Tifton Banking Company (“TBC”) Tifton, Ga. 1 November 12, 2010 Darby Bank & Trust (“DBT”) Vidalia, Ga. 7 November 12, 2010 High Trust Bank (“HTB”) Stockbridge, Ga. 2 July 15, 2011 One Georgia Bank (“OGB”) Midtown Atlanta, Ga. 1 July 15, 2011 Central Bank of Georgia (“CBG”) Ellaville, Ga. 5 February 24, 2012 Montgomery Bank & Trust (“MBT”) Ailey, Ga. 2 July 6, 2012 |
Components of Covered Assets | The following table summarizes components of all covered assets at June 30, 2017 and December 31, 2016 and their origin: FDIC Loss- Less: Fair Total Less: Fair Total Total Share Covered Value Covered Value Covered Covered Receivable (dollars in thousands) Loans Adjustments Loans OREO Adjustments OREO Assets (Payable) June 30, 2017 AUB $ - $ - $ - $ - $ - $ - $ - $ - USB 2,933 12 2,921 - - - 2,921 (1,726) SCB 3,230 30 3,200 - - - 3,200 69 FBJ 3,682 414 3,268 - - - 3,268 (302) DBT 10,360 406 9,954 - - - 9,954 (4,299) TBC 1,708 - 1,708 - - - 1,708 (50) HTB 1,885 28 1,857 - - - 1,857 (59) OGB 939 31 908 - - - 908 (1,103) CBG 10,654 773 9,881 215 - 215 10,096 (522) Total $ 35,391 $ 1,694 $ 33,697 $ 215 $ - $ 215 $ 33,912 $ (7,992) December 31, 2016 AUB $ - $ - $ - $ - $ - $ - $ - $ (27) USB 3,199 13 3,186 51 - 51 3,237 (1,642) SCB 4,019 51 3,968 - - - 3,968 (32) FBJ 3,767 452 3,315 - - - 3,315 (234) DBT 12,166 565 11,601 - - - 11,601 (4,591) TBC 1,679 - 1,679 - - - 1,679 (33) HTB 1,913 33 1,880 - - - 1,880 734 OGB 1,077 32 1,045 - - - 1,045 (993) CBG 33,449 1,963 31,486 1,161 4 1,157 32,643 505 Total $ 61,269 $ 3,109 $ 58,160 $ 1,212 $ 4 $ 1,208 $ 59,368 $ (6,313) |
Changes in FDIC Shared-Loss Receivable | Changes in the FDIC shared-loss payable for the six months ended June 30, 2017 and 2016 are as follows: June 30, June 30, (dollars in thousands) 2017 2016 Beginning balance, January 1 $ (6,313) $ 6,301 Payments received from FDIC (230) (4,165) Amortization (595) (2,737) Changes in clawback liability (398) (345) Increase in receivable due to: Net recoveries on covered loans (648) (929) Loss (gain) on covered other real estate owned (40) 774 Reimbursable expenses on covered assets 242 429 Other activity, net (10) (1,225) Ending balance $ (7,992) $ (1,897) |
OTHER REAL ESTATE OWNED (Tables
OTHER REAL ESTATE OWNED (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
Summary of Activity in Other Real Estate Owned | The following is a summary of the activity in other real estate owned during the six months ended June 30, 2017 and 2016: June 30, June 30, (dollars in thousands) 2017 2016 Beginning balance, January 1 $ 10,874 $ 16,147 Loans transferred to other real estate owned 3,347 1,499 Net gains (losses) on sale and write-downs recorded in statement of income (553) (1,057) Sales proceeds (2,185) (2,824) Ending balance $ 11,483 $ 13,765 |
Summary of Activity in Purchased Other Real Estate Owned | The following is a summary of the activity in purchased other real estate owned during the six months ended June 30, 2017 and 2016: June 30, June 30, (dollars in thousands) 2017 2016 Beginning balance, January 1 $ 12,540 $ 19,344 Loans transferred to other real estate owned 3,281 3,420 Acquired in acquisitions - 1,838 Portion of gains (losses) on sale and write-downs payable to (receivable from) the FDIC under loss-sharing agreements 40 - Net gains (losses) on sale and write-downs recorded in statement of income 819 (938) Sales proceeds (5,350) (6,994) Ending balance $ 11,330 $ 16,670 |
SECURITIES SOLD UNDER AGREEME30
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Brokers and Dealers [Abstract] | |
Summary of Securities Sold Under Repurchase Agreements | The following is a summary of the Company’s securities sold under agreements to repurchase at June 30, 2017 and December 31, 2016: June 30, December 31, (dollars in thousands) 2017 2016 Securities sold under agreements to repurchase $ 18,400 $ 53,505 |
OTHER BORROWINGS (Tables)
OTHER BORROWINGS (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
OTHER BORROWINGS | Other borrowings consist of the following: June 30, December 31, (dollars in thousands) 2017 2016 FHLB borrowings: Daily Rate Credit from FHLB with a variable interest rate (1.32% at June 30, 2017 and 0.80% at December 31, 2016) $ 254,000 $ 150,000 Advance from FHLB due July 7, 2017; fixed interest rate of 1.07% 350,000 - Advance from FHLB due January 6, 2017; fixed interest rate of 0.56% - 292,500 Advance from FHLB due January 9, 2017; fixed interest rate of 1.40% - 4,002 Advance from FHLB due May 30, 2017; fixed interest rate of 1.23% - 5,006 Subordinated notes payable: Subordinated notes payable due March 15, 2027 net of unamortized debt issuance cost of $1,270; fixed interest rate of 5.75% through March 14, 2022; variable interest rate thereafter at three-month LIBOR plus 3.616% 73,730 - Other debt: Advance from correspondent bank due October 5, 2019; secured by a loan receivable; fixed interest rate of 4.25% 63 77 Advance from correspondent bank due September 5, 2026; secured by a loan receivable; fixed interest rate of 2.09% 1,798 1,886 Advances under revolving credit agreement with a regional bank due September 26, 2017; secured by subsidiary bank stock; variable interest rate at 90-day LIBOR plus 3.50% (4.43% at December 31, 2016) - 38,000 Advances under revolving credit agreement with a regional bank due January 7, 2017; fixed interest rate of 8.00% - 850 Total $ 679,591 $ 492,321 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Guarantor Obligations | A summary of the Company’s commitments is as follows: June 30, December 31, (dollars in thousands) 2017 2016 Commitments to extend credit $ 1,042,343 $ 1,101,257 Unused home equity lines of credit 64,561 62,586 Financial standby letters of credit 12,928 14,257 Mortgage interest rate lock commitments 138,325 91,426 Mortgage forward contracts with positive fair value 149,250 150,000 |
ACCUMULATED OTHER COMPREHENSI33
ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Summary of Accumulated Other Comprehensive Income | The following tables present a summary of the accumulated other comprehensive income balances, net of tax, as of June 30, 2017 and 2016: Unrealized Unrealized Accumulated Gain (Loss) Gain (Loss) Other Comprehensive (dollars in thousands) on Derivatives on Securities Income (Loss) Balance, January 1, 2017 $ 176 $ (1,234) $ (1,058) Reclassification for gains included in net income, net of tax - (24) (24) Current year changes, net of tax (63) 2,566 2,503 Balance, June 30, 2017 $ 113 $ 1,308 $ 1,421 Unrealized Unrealized Accumulated Gain (Loss) Gain (Loss) Other Comprehensive (dollars in thousands) on Derivatives on Securities Income (Loss) Balance, January 1, 2016 $ 152 $ 3,201 $ 3,353 Reclassification for gains included in net income, net of tax - (61) (61) Current year changes, net of tax (808) 10,476 9,668 Balance, June 30, 2016 $ (656) $ 13,616 $ 12,960 |
WEIGHTED AVERAGE SHARES OUTST34
WEIGHTED AVERAGE SHARES OUTSTANDING (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Summary of Weighted Average Number of Shares | Earnings per share have been computed based on the following weighted average number of common shares outstanding: For the Three Months For the Six Months Ended June 30, Ended June 30, (share data in thousands) 2017 2016 2017 2016 Average common shares outstanding 37,163 34,833 36,418 33,792 Common share equivalents: Stock options 73 117 73 113 Nonvested restricted share grants 253 203 253 202 Average common shares outstanding, assuming dilution 37,489 35,153 36,744 34,107 |
FAIR VALUE MEASURES (Tables)
FAIR VALUE MEASURES (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Loans Held for Sale are Carried at Fair Value | The Company’s loans held for sale are carried at fair value and are comprised of the following: June 30, December 31, (dollars in thousands) 2017 2016 Mortgage loans held for sale $ 123,119 $ 105,924 SBA loans held for sale 23,647 - Total loans held for sale $ 146,766 $ 105,924 |
Difference Between Fair Value and Principal Balance for Mortgage Loans Held for Sale Measured at Fair Value | The following table summarizes the difference between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of June 30, 2017 and December 31, 2016: June 30, December 31, (dollars in thousands) 2017 2016 Aggregate fair value of mortgage loans held for sale $ 123,119 $ 105,924 Aggregate unpaid principal balance 118,900 103,691 Past-due loans of 90 days or more - - Nonaccrual loans - - |
Fair Value Measurements of Assets and Liabilities Measured on Recurring Basis | The following table presents the fair value measurements of assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of June 30, 2017 and December 31, 2016: Fair Value Measurements on a Recurring Basis As of June 30, 2017 (dollars in thousands) Fair Value Level 1 Level 2 Level 3 Financial assets: U.S. government sponsored agencies $ 1,009 $ - $ 1,009 $ - State, county and municipal securities 145,108 - 145,108 - Corporate debt securities 47,612 - 46,112 1,500 Mortgage-backed securities 624,964 - 624,964 - Loans held for sale 146,766 - 146,766 - Mortgage banking derivative instruments 4,899 - 4,899 - Total recurring assets at fair value $ 970,358 $ - $ 968,858 $ 1,500 Financial liabilities: Derivative financial instruments $ 867 $ - $ 867 $ - Mortgage banking derivative instruments 306 - 306 - Total recurring liabilities at fair value $ 1,173 $ - $ 1,173 $ - Fair Value Measurements on a Recurring Basis As of December 31, 2016 (dollars in thousands) Fair Value Level 1 Level 2 Level 3 Financial assets: U.S. government sponsored agencies $ 1,020 $ - $ 1,020 $ - State, county and municipal securities 152,035 - 152,035 - Corporate debt securities 32,172 - 30,672 1,500 Mortgage-backed securities 637,508 - 637,508 - Loans held for sale 105,924 - 105,924 - Mortgage banking derivative instruments 4,314 - 4,314 - Total recurring assets at fair value $ 932,973 $ - $ 931,473 $ 1,500 Financial liabilities: Derivative financial instruments $ 978 $ - $ 978 $ - Total recurring liabilities at fair value $ 978 $ - $ 978 $ - |
Summary of Fair Value Measurements of Assets Measured at Fair Value on Non-Recurring Basis | The following table presents the fair value measurements of assets measured at fair value on a non-recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy as of June 30, 2017 and December 31, 2016: Fair Value Measurements on a Nonrecurring Basis (dollars in thousands) Fair Value Level 1 Level 2 Level 3 June 30, 2017 Impaired loans carried at fair value $ 26,605 $ - $ - $ 26,605 Other real estate owned 453 - - 453 Purchased other real estate owned 11,330 - - 11,330 Total nonrecurring assets at fair value $ 38,388 $ - $ - $ 38,388 December 31, 2016 Impaired loans carried at fair value $ 28,253 $ - $ - $ 28,253 Other real estate owned 1,172 - - 1,172 Purchased other real estate owned 12,540 - - 12,540 Total nonrecurring assets at fair value $ 41,965 $ - $ - $ 41,965 |
Summary of Significant Unobservable Inputs Used in Fair Value Measurement of Level 3 Assets and Liabilities | The following table shows significant unobservable inputs used in the fair value measurement of Level 3 assets and liabilities: Weighted Range of Average (dollars in thousands) Fair Value Valuation Technique Unobservable Inputs Discounts Discount June 30, 2017 Recurring: Investment securities available for sale $ 1,500 Discounted par values Credit quality of underlying issuer 0% 0% Nonrecurring: Impaired loans $ 26,605 Third-party appraisals and discounted cash flows Collateral discounts and discount rates 11% - 100% 29% Other real estate owned $ 453 Third-party appraisals, sales contracts, broker price opinions Collateral discounts and estimated costs to sell 15% - 45% 17% Purchased other real estate owned $ 11,330 Third-party appraisals Collateral discounts and estimated costs to sell 10% - 74% 14% December 31, 2016 Recurring: Investment securities available for sale $ 1,500 Discounted par values Credit quality of underlying issuer 0% 0% Nonrecurring: Impaired loans $ 28,253 Third-party appraisals and discounted cash flows Collateral discounts and discount rates 15% - 100% 28% Other real estate owned $ 1,172 Third-party appraisals, sales contracts, broker price opinions Collateral discounts and estimated costs to sell 15% - 74% 22% Purchased other real estate owned $ 12,540 Third-party appraisals Collateral discounts and estimated costs to sell 10% - 74% 15% |
Carrying Amount and Estimated Fair Value of Financial Instruments | The carrying amount and estimated fair value of the Company’s financial instruments, not shown elsewhere in these financial statements, were as follows: Fair Value Measurements at June 30, 2017 Using: Carrying (dollars in thousands) Amount Level 1 Level 2 Level 3 Total Financial assets: Cash and due from banks $ 139,500 $ 139,500 $ - $ - $ 139,500 Federal funds sold and interest-bearing accounts 137,811 137,811 - - 137,811 Loans, net 5,619,135 - - 5,609,246 5,609,246 Accrued interest receivable 22,006 22,006 - - 22,006 Financial liabilities: Deposits $ 5,793,397 $ - $ 5,793,319 $ - $ 5,793,319 Securities sold under agreements to repurchase 18,400 18,400 - - 18,400 Other borrowings 679,591 - 680,861 - 680,861 Subordinated deferrable interest debentures 84,889 - 69,471 - 69,471 FDIC loss-share payable 7,992 - - 9,014 9,014 Accrued interest payable 3,167 3,167 - - 3,167 Fair Value Measurements at December 31, 2016 Using: Carrying (dollars in thousands) Amount Level 1 Level 2 Level 3 Total Financial assets: Cash and due from banks $ 127,164 $ 127,164 $ - $ - $ 127,164 Federal funds sold and interest-bearing accounts 71,221 71,221 - - 71,221 Loans, net 5,212,153 - - 5,236,034 5,236,034 Accrued interest receivable 22,278 22,278 - - 22,278 Financial liabilities: Deposits $ 5,575,163 $ - $ 5,575,288 $ - $ 5,575,288 Securities sold under agreements to repurchase 53,505 53,505 - - 53,505 Other borrowings 492,321 - 492,321 - 492,321 Subordinated deferrable interest debentures 84,228 - 67,321 - 67,321 FDIC loss-share payable 6,313 - - 8,243 8,243 Accrued interest payable 1,501 1,501 - - 1,501 |
SEGMENT REPORTING (Tables)
SEGMENT REPORTING (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Financial Information with Respect to Company's Reportable Business Segments | The following tables present selected financial information with respect to the Company’s reportable business segments for the three months ended June 30, 2017 and 2016: Three Months Ended June 30, 2017 Retail Warehouse Premium Banking Mortgage Lending SBA Finance (dollars in thousands) Division Division Division Division Division Total Interest income $ 56,694 $ 4,974 $ 1,613 $ 1,258 $ 6,872 $ 71,411 Interest expense 4,894 1,504 359 373 1,124 8,254 Net interest income 51,800 3,470 1,254 885 5,748 63,157 Provision for loan losses 1,491 347 176 51 140 2,205 Noninterest income 12,954 13,053 438 1,718 26 28,189 Noninterest expense Salaries and employee benefits 19,359 7,763 127 890 993 29,132 Equipment and occupancy expenses 5,427 610 1 54 54 6,146 Data processing and telecommunications expenses 6,378 440 25 2 183 7,028 Other expenses 10,209 888 54 259 2,023 13,433 Total noninterest expense 41,373 9,701 207 1,205 3,253 55,739 Income before income tax expense 21,890 6,475 1,309 1,347 2,381 33,402 Income tax expense 6,095 2,361 472 472 915 10,315 Net income $ 15,795 $ 4,114 $ 837 $ 875 $ 1,466 $ 23,087 Total assets $ 6,186,980 $ 475,599 $ 174,149 $ 80,909 $ 480,221 $ 7,397,858 Goodwill 125,532 - - - - 125,532 Other intangible assets, net 15,378 - - - - 15,378 Three Months Ended June 30, 2016 Retail Warehouse Premium Banking Mortgage Lending SBA Finance (dollars in thousands) Division Division Division Division Division Total Interest income $ 53,534 $ 3,293 $ 1,622 $ 891 $ - $ 59,340 Interest expense 3,714 739 141 157 - 4,751 Net interest income 49,820 2,554 1,481 734 - 54,589 Provision for loan losses 733 93 - 63 - 889 Noninterest income 13,018 13,304 440 1,617 - 28,379 Noninterest expense Salaries and employee benefits 18,428 8,304 108 691 - 27,531 Equipment and occupancy expenses 5,901 405 1 64 - 6,371 Data processing and telecommunications expenses 5,685 338 25 1 - 6,049 Other expenses 11,071 1,133 26 178 - 12,408 Total noninterest expense 41,085 10,180 160 934 - 52,359 Income before income tax expense 21,020 5,585 1,761 1,354 - 29,720 Income tax expense 6,626 1,955 616 474 - 9,671 Net income $ 14,394 $ 3,630 $ 1,145 $ 880 $ - $ 20,049 Total assets $ 5,691,976 $ 306,932 $ 150,823 $ 71,563 $ - $ 6,221,294 Goodwill 121,422 - - - - 121,422 Other intangible assets, net 20,574 - - - - 20,574 The following tables present selected financial information with respect to the Company’s reportable business segments for the six months ended June 30, 2017 and 2016: June 30, 2017 Retail Warehouse Premium Banking Mortgage Lending SBA Finance (dollars in thousands) Division Division Division Division Division Total Interest income $ 110,906 $ 9,028 $ 2,946 $ 2,471 $ 13,110 $ 138,461 Interest expense 8,980 2,582 587 679 1,886 14,714 Net interest income 101,926 6,446 2,359 1,792 11,224 123,747 Provision for loan losses 3,473 355 (56) 99 170 4,041 Noninterest income 25,967 23,566 757 3,533 72 53,895 Noninterest expense Salaries and employee benefits 38,203 14,979 274 1,481 1,989 56,926 Equipment and occupancy expenses 10,684 1,129 2 105 103 12,023 Data processing and telecommunications expenses 12,421 757 52 3 367 13,600 Other expenses 19,450 2,029 86 470 4,248 26,283 Total noninterest expense 80,758 18,894 414 2,059 6,707 108,832 Income before income tax expense 43,662 10,763 2,758 3,167 4,419 64,769 Income tax expense 12,951 3,862 979 1,109 1,628 20,529 Net income $ 30,711 $ 6,901 $ 1,779 $ 2,058 $ 2,791 $ 44,240 Six Months Ended June 30, 2016 Retail Warehouse Premium Banking Mortgage Lending SBA Finance (dollars in thousands) Division Division Division Division Division Total Interest income $ 103,313 $ 6,313 $ 2,641 $ 1,632 $ - $ 113,899 Interest expense 7,010 1,329 233 302 - 8,874 Net interest income 96,303 4,984 2,408 1,330 - 105,025 Provision for loan losses 1,414 93 - 63 - 1,570 Noninterest income 25,753 22,928 773 3,211 - 52,665 Noninterest expense Salaries and employee benefits 37,417 14,651 296 1,354 - 53,718 Equipment and occupancy expenses 11,051 893 2 125 - 12,071 Data processing and telecommunications expenses 11,505 610 45 2 - 12,162 Other expenses 27,507 2,089 51 361 - 30,008 Total noninterest expense 87,480 18,243 394 1,842 - 107,959 Income before income tax expense 33,162 9,576 2,787 2,636 - 48,161 Income tax expense 10,545 3,352 975 923 - 15,795 Net income $ 22,617 $ 6,224 $ 1,812 $ 1,713 $ - $ 32,366 |
INVESTMENT IN US PREMIUM FINA37
INVESTMENT IN US PREMIUM FINANCE HOLDING COMPANY (Details) - US Premium Financing Holding Company [Member] - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 6 Months Ended |
Jan. 18, 2017 | Jun. 30, 2017 | |
Ameris common shares issued | 128,572 | 128,572 |
Price per share of the Company's common stock | $ 45.45 | |
Fair value of consideration transferred | $ 5,800 | $ 5,844 |
INVESTMENT IN US PREMIUM FINA38
INVESTMENT IN US PREMIUM FINANCE HOLDING COMPANY (Details Textual) - US Premium Financing Holding Company [Member] - USD ($) $ in Thousands | 1 Months Ended | 6 Months Ended | |
Jan. 18, 2017 | Jun. 30, 2017 | Dec. 15, 2016 | |
Stock Issued During Period, Shares, Purchase of Assets | 128,572 | 128,572 | |
Stock Issued During Period, Value, Purchase of Assets | $ 5,800 | $ 5,844 | |
Cost Method Investment Ownership Percentage | 4.99% |
INVESTMENT SECURITIES (Details)
INVESTMENT SECURITIES (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 816,680 | $ 824,635 |
Gross Unrealized Gains | 6,555 | 5,493 |
Gross Unrealized Losses | (4,542) | (7,393) |
Estimated Fair Value | 818,693 | 822,735 |
U.S. government sponsored agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,000 | 999 |
Gross Unrealized Gains | 9 | 21 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 1,009 | 1,020 |
State, county and municipal securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 142,028 | 149,899 |
Gross Unrealized Gains | 3,166 | 2,605 |
Gross Unrealized Losses | (86) | (469) |
Estimated Fair Value | 145,108 | 152,035 |
Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 47,252 | 32,375 |
Gross Unrealized Gains | 552 | 167 |
Gross Unrealized Losses | (192) | (370) |
Estimated Fair Value | 47,612 | 32,172 |
Mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 626,400 | 641,362 |
Gross Unrealized Gains | 2,828 | 2,700 |
Gross Unrealized Losses | (4,264) | (6,554) |
Estimated Fair Value | $ 624,964 | $ 637,508 |
INVESTMENT SECURITIES (Details
INVESTMENT SECURITIES (Details 1) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Due in one year or less, Amortized Cost | $ 15,505 | |
Due from one year to five years, Amortized Cost | 56,978 | |
Due from five to ten years, Amortized Cost | 73,838 | |
Due after ten years, Amortized Cost | 43,959 | |
Mortgage-backed securities, Amortized Cost | 626,400 | |
Amortized Cost | 816,680 | $ 824,635 |
Due in one year or less, Estimated Fair Value | 15,660 | |
Due from one year to five years, Estimated Fair Value | 57,730 | |
Due from five to ten years, Estimated Fair Value | 75,578 | |
Due after ten years, Estimated Fair Value | 44,761 | |
Mortgage-backed securities, Estimated Fair Value | 624,964 | |
Estimated Fair Value | $ 818,693 | $ 822,735 |
INVESTMENT SECURITIES (Detail41
INVESTMENT SECURITIES (Details 2) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than 12 Months, Estimated Fair Value | $ 389,576 | $ 480,324 |
12 Months or More, Estimated Fair Value | 26,572 | 12,284 |
Total Estimated Fair Value | 416,148 | 492,608 |
Less Than 12 Months, Unrealized Losses | (3,964) | (7,009) |
12 Months or More, Unrealized Losses | (578) | (384) |
Total Unrealized Losses | (4,542) | (7,393) |
U.S. government sponsored agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than 12 Months, Estimated Fair Value | 0 | 0 |
12 Months or More, Estimated Fair Value | 0 | 0 |
Total Estimated Fair Value | 0 | 0 |
Less Than 12 Months, Unrealized Losses | 0 | 0 |
12 Months or More, Unrealized Losses | 0 | 0 |
Total Unrealized Losses | 0 | 0 |
State, county and municipal securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than 12 Months, Estimated Fair Value | 13,920 | 47,647 |
12 Months or More, Estimated Fair Value | 0 | 0 |
Total Estimated Fair Value | 13,920 | 47,647 |
Less Than 12 Months, Unrealized Losses | (86) | (469) |
12 Months or More, Unrealized Losses | 0 | 0 |
Total Unrealized Losses | (86) | (469) |
Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than 12 Months, Estimated Fair Value | 18,966 | 18,377 |
12 Months or More, Estimated Fair Value | 490 | 493 |
Total Estimated Fair Value | 19,456 | 18,870 |
Less Than 12 Months, Unrealized Losses | (182) | (363) |
12 Months or More, Unrealized Losses | (10) | (7) |
Total Unrealized Losses | (192) | (370) |
Mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less Than 12 Months, Estimated Fair Value | 356,690 | 414,300 |
12 Months or More, Estimated Fair Value | 26,082 | 11,791 |
Total Estimated Fair Value | 382,772 | 426,091 |
Less Than 12 Months, Unrealized Losses | (3,696) | (6,177) |
12 Months or More, Unrealized Losses | (568) | (377) |
Total Unrealized Losses | $ (4,264) | $ (6,554) |
INVESTMENT SECURITIES (Detail42
INVESTMENT SECURITIES (Details 3) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Gross gains on sales of securities | $ 38 | $ 313 |
Gross losses on sales of securities | (1) | (219) |
Net realized gains on sales of securities available for sale | 37 | 94 |
Sales proceeds | $ 3,090 | $ 46,731 |
INVESTMENT SECURITIES (Detail43
INVESTMENT SECURITIES (Details Textual) $ in Millions | Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) |
Schedule of Available-for-sale Securities [Line Items] | ||
Pledged Securities, carrying value | $ 531.8 | $ 618.2 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number Of Securities In Security Portfolio | 418 | |
Number of securities in unrealized loss position | 160 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of securities in unrealized loss position | 139 | |
State, County and Municipal Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number Of Securities In Security Portfolio | 11 | |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number Of Securities In Security Portfolio | 10 |
LOANS (Details)
LOANS (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Excluding Purchased Loans | $ 4,230,228 | $ 3,626,821 |
Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Excluding Purchased Loans | 4,230,228 | 3,626,821 |
Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Excluding Purchased Loans | 1,218,633 | 967,138 |
Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Excluding Purchased Loans | 486,858 | 363,045 |
Real Estate - Commercial & Farmland [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Excluding Purchased Loans | 1,519,002 | 1,406,219 |
Real Estate - Residential [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Excluding Purchased Loans | 857,069 | 781,018 |
Consumer installment [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Excluding Purchased Loans | 147,505 | 96,915 |
Other [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Excluding Purchased Loans | $ 1,161 | $ 12,486 |
LOANS (Details 1)
LOANS (Details 1) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased loans | $ 950,499 | $ 1,069,191 |
Purchased Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased loans | 950,499 | 1,069,191 |
Purchased Loans [Member] | Commercial, financial & agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased loans | 87,612 | 96,537 |
Purchased Loans [Member] | Real Estate - construction & development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased loans | 73,567 | 81,368 |
Purchased Loans [Member] | Real Estate - Commercial & Farmland [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased loans | 510,312 | 576,355 |
Purchased Loans [Member] | Real Estate - Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased loans | 275,504 | 310,277 |
Purchased Loans [Member] | Consumer installment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Purchased loans | $ 3,504 | $ 4,654 |
LOANS (Details 2)
LOANS (Details 2) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Transfers to purchased other real estate owned | $ (3,281) | $ (3,420) |
Purchased Loans [Member] | ||
Balance, beginning of year | 1,069,191 | 909,083 |
Charge-offs, net of recoveries | (1,860) | (1,181) |
Additions due to acquisitions | 0 | 401,085 |
Accretion | 6,165 | 8,844 |
Transfers to purchased other real estate owned | (3,281) | (3,420) |
Payments received | (119,716) | (120,866) |
Other | 0 | 90 |
Balance, ending of year | $ 950,499 | $ 1,193,635 |
LOANS (Details 3)
LOANS (Details 3) - Purchased Loans [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Schedule of Purchase Loans Acquired Accretable Discounts [Line Items] | ||
Balance, beginning of year | $ 1,069,191 | $ 909,083 |
Additions due to acquisitions | 0 | 401,085 |
Balance, ending of year | 950,499 | 1,193,635 |
Discount Accretion [Member] | ||
Schedule of Purchase Loans Acquired Accretable Discounts [Line Items] | ||
Balance, beginning of year | 30,624 | 33,848 |
Additions due to acquisitions | 0 | 9,991 |
Accretion | (6,165) | (8,844) |
Accretable discounts removed due to charge-offs | (13) | (11) |
Transfers between non-accretable and accretable discounts, net | 807 | 1,461 |
Balance, ending of year | $ 25,253 | $ 36,445 |
LOANS (Details 4)
LOANS (Details 4) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Loans Excluding Purchased Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | $ 17,083 | $ 18,114 | $ 16,003 |
Purchased Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 17,357 | 22,966 | $ 26,736 |
Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 2,463 | 1,814 | |
Commercial, financial & agricultural [Member] | Purchased Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 169 | 692 | |
Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 770 | 547 | |
Real Estate - construction & development [Member] | Purchased Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 2,463 | 2,611 | |
Real Estate - Commercial & Farmland [Member] | Loans Excluding Purchased Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 6,004 | 8,757 | |
Real Estate - Commercial & Farmland [Member] | Purchased Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 6,624 | 10,174 | |
Real Estate - Residential [Member] | Loans Excluding Purchased Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 7,342 | 6,401 | |
Real Estate - Residential [Member] | Purchased Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 8,074 | 9,476 | |
Consumer installment [Member] | Loans Excluding Purchased Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 504 | 595 | |
Consumer installment [Member] | Purchased Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | $ 27 | $ 13 |
LOANS (Details 5)
LOANS (Details 5) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 5,670,841 | $ 5,264,326 |
Loans Excluding Purchased Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 31,303 | 32,893 |
Current Loans | 4,198,925 | 3,593,928 |
Total Loans | 4,230,228 | 3,626,821 |
Loans 90 Days or More Past Due and Still Accruing | 1,784 | 0 |
Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 11,267 | 14,780 |
Loans Excluding Purchased Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 4,038 | 3,784 |
Loans Excluding Purchased Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 15,998 | 14,329 |
Commercial Financial And Agricultural [Member] | Loans Excluding Purchased Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 12,560 | 1,940 |
Current Loans | 1,206,073 | 965,198 |
Total Loans | 1,218,633 | 967,138 |
Loans 90 Days or More Past Due and Still Accruing | 1,784 | 0 |
Commercial Financial And Agricultural [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 6,343 | 565 |
Commercial Financial And Agricultural [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 2,298 | 82 |
Commercial Financial And Agricultural [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 3,919 | 1,293 |
Real Estate Construction And Development [Member] | Loans Excluding Purchased Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 968 | 1,793 |
Current Loans | 485,890 | 361,252 |
Total Loans | 486,858 | 363,045 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 |
Real Estate Construction And Development [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 205 | 908 |
Real Estate Construction And Development [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 12 | 446 |
Real Estate Construction And Development [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 751 | 439 |
Real Estate Commercial And Farmland [Member] | Loans Excluding Purchased Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 7,279 | 14,985 |
Current Loans | 1,511,723 | 1,391,234 |
Total Loans | 1,519,002 | 1,406,219 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 |
Real Estate Commercial And Farmland [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 1,311 | 6,329 |
Real Estate Commercial And Farmland [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 366 | 1,711 |
Real Estate Commercial And Farmland [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 5,602 | 6,945 |
Real Estate - Residential [Member] | Loans Excluding Purchased Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 9,439 | 12,938 |
Current Loans | 847,630 | 768,080 |
Total Loans | 857,069 | 781,018 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 |
Real Estate - Residential [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 2,833 | 6,354 |
Real Estate - Residential [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 1,174 | 1,282 |
Real Estate - Residential [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 5,432 | 5,302 |
Consumer Installment [Member] | Loans Excluding Purchased Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 1,057 | 1,237 |
Current Loans | 146,448 | 95,678 |
Total Loans | 147,505 | 96,915 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 |
Consumer Installment [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 575 | 624 |
Consumer Installment [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 188 | 263 |
Consumer Installment [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 294 | 350 |
Other [Member] | Loans Excluding Purchased Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 0 | 0 |
Current Loans | 1,161 | 12,486 |
Total Loans | 1,161 | 12,486 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 |
Other [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 0 | 0 |
Other [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 0 | 0 |
Other [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | $ 0 | $ 0 |
LOANS (Details 6)
LOANS (Details 6) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 5,670,841 | $ 5,264,326 |
Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 13,584 | 25,060 |
Current Loans | 936,915 | 1,044,131 |
Total Loans | 950,499 | 1,069,191 |
Loans 90 Days or More Past Due and Still Accruing | 147 | 0 |
Purchased Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 2,590 | 6,896 |
Purchased Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 1,480 | 1,053 |
Purchased Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 9,514 | 17,111 |
Commercial Financial And Agricultural [Member] | Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 323 | 724 |
Current Loans | 87,289 | 95,813 |
Total Loans | 87,612 | 96,537 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 |
Commercial Financial And Agricultural [Member] | Purchased Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 171 | 113 |
Commercial Financial And Agricultural [Member] | Purchased Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 0 | 18 |
Commercial Financial And Agricultural [Member] | Purchased Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 152 | 593 |
Real Estate Construction And Development [Member] | Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 2,233 | 2,690 |
Current Loans | 71,334 | 78,678 |
Total Loans | 73,567 | 81,368 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 |
Real Estate Construction And Development [Member] | Purchased Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 322 | 161 |
Real Estate Construction And Development [Member] | Purchased Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 81 | 11 |
Real Estate Construction And Development [Member] | Purchased Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 1,830 | 2,518 |
Real Estate Commercial And Farmland [Member] | Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 3,390 | 9,512 |
Current Loans | 506,922 | 566,843 |
Total Loans | 510,312 | 576,355 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 |
Real Estate Commercial And Farmland [Member] | Purchased Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 1,084 | 2,034 |
Real Estate Commercial And Farmland [Member] | Purchased Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 46 | 326 |
Real Estate Commercial And Farmland [Member] | Purchased Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 2,260 | 7,152 |
Residential Real Estate [Member] | Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 7,594 | 12,099 |
Current Loans | 267,910 | 298,178 |
Total Loans | 275,504 | 310,277 |
Loans 90 Days or More Past Due and Still Accruing | 147 | 0 |
Residential Real Estate [Member] | Purchased Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 985 | 4,566 |
Residential Real Estate [Member] | Purchased Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 1,353 | 698 |
Residential Real Estate [Member] | Purchased Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 5,256 | 6,835 |
Consumer Installment [Member] | Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 44 | 35 |
Current Loans | 3,460 | 4,619 |
Total Loans | 3,504 | 4,654 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 |
Consumer Installment [Member] | Purchased Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 28 | 22 |
Consumer Installment [Member] | Purchased Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 0 | 0 |
Consumer Installment [Member] | Purchased Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | $ 16 | $ 13 |
LOANS (Details 7)
LOANS (Details 7) - Loans Excluding Purchased Loan [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | $ 17,083 | $ 16,003 | $ 18,114 |
Troubled debt restructurings not included above | 12,169 | 14,795 | 14,209 |
Total impaired loans | 29,252 | 30,798 | 32,323 |
Quater-to-date [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 320 | 238 | 225 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 247 | 230 | 267 |
Year-to-date [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 560 | 556 | 1,033 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 521 | $ 471 | $ 977 |
LOANS (Details 8)
LOANS (Details 8) - Loans Excluding Purchased Loan [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid Contractual Principal Balance | $ 31,936 | $ 35,174 | $ 35,510 | $ 31,936 | $ 35,510 | $ 35,174 |
Recorded Investment With No Allowance | 8,809 | 9,253 | 7,523 | 8,809 | 7,523 | 9,253 |
Recorded Investment With Allowance | 20,443 | 23,070 | 23,275 | 20,443 | 23,275 | 23,070 |
Total impaired loans | 29,252 | 32,323 | 30,798 | 29,252 | 30,798 | 32,323 |
Related Allowance | 4,318 | 4,995 | 4,224 | 4,318 | 4,224 | 4,995 |
Average Recorded Investment | 31,891 | 32,252 | 30,441 | 32,343 | 30,720 | 31,506 |
Commercial, financial & agricultural [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid Contractual Principal Balance | 4,166 | 3,068 | 3,786 | 4,166 | 3,786 | 3,068 |
Recorded Investment With No Allowance | 596 | 204 | 652 | 596 | 652 | 204 |
Recorded Investment With Allowance | 1,907 | 1,656 | 1,453 | 1,907 | 1,453 | 1,656 |
Total impaired loans | 2,503 | 1,860 | 2,105 | 2,503 | 2,105 | 1,860 |
Related Allowance | 704 | 134 | 150 | 704 | 150 | 134 |
Average Recorded Investment | 3,113 | 1,613 | 1,825 | 2,695 | 1,731 | 1,684 |
Real Estate - construction & development [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid Contractual Principal Balance | 1,733 | 2,047 | 3,141 | 1,733 | 3,141 | 2,047 |
Recorded Investment With No Allowance | 119 | 0 | 230 | 119 | 230 | 0 |
Recorded Investment With Allowance | 1,080 | 1,233 | 1,826 | 1,080 | 1,826 | 1,233 |
Total impaired loans | 1,199 | 1,233 | 2,056 | 1,199 | 2,056 | 1,233 |
Related Allowance | 179 | 273 | 697 | 179 | 697 | 273 |
Average Recorded Investment | 1,123 | 1,590 | 2,154 | 1,160 | 2,304 | 2,018 |
Real Estate Commercial And Farmland [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid Contractual Principal Balance | 11,885 | 13,906 | 13,592 | 11,885 | 13,592 | 13,906 |
Recorded Investment With No Allowance | 5,940 | 6,811 | 5,312 | 5,940 | 5,312 | 6,811 |
Recorded Investment With Allowance | 4,923 | 6,065 | 7,221 | 4,923 | 7,221 | 6,065 |
Total impaired loans | 10,863 | 12,876 | 12,533 | 10,863 | 12,533 | 12,876 |
Related Allowance | 1,436 | 1,503 | 1,000 | 1,436 | 1,000 | 1,503 |
Average Recorded Investment | 11,156 | 12,948 | 12,772 | 11,730 | 12,777 | 12,845 |
Residential Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid Contractual Principal Balance | 13,569 | 15,482 | 14,460 | 13,569 | 14,460 | 15,482 |
Recorded Investment With No Allowance | 2,154 | 2,238 | 1,329 | 2,154 | 1,329 | 2,238 |
Recorded Investment With Allowance | 12,017 | 13,503 | 12,331 | 12,017 | 12,331 | 13,503 |
Total impaired loans | 14,171 | 15,741 | 13,660 | 14,171 | 13,660 | 15,741 |
Related Allowance | 1,994 | 3,080 | 2,369 | 1,994 | 2,369 | 3,080 |
Average Recorded Investment | 15,946 | 15,525 | 13,249 | 16,186 | 13,450 | 14,453 |
Consumer installment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid Contractual Principal Balance | 583 | 671 | 531 | 583 | 531 | 671 |
Recorded Investment With No Allowance | 0 | 0 | 0 | 0 | 0 | 0 |
Recorded Investment With Allowance | 516 | 613 | 444 | 516 | 444 | 613 |
Total impaired loans | 516 | 613 | 444 | 516 | 444 | 613 |
Related Allowance | 5 | 5 | 8 | 5 | 8 | 5 |
Average Recorded Investment | $ 553 | $ 576 | $ 441 | $ 572 | $ 458 | $ 506 |
LOANS (Details 9)
LOANS (Details 9) - Purchased Loans [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | $ 17,357 | $ 26,736 | $ 22,966 |
Troubled debt restructurings not included above | 21,020 | 20,642 | 23,543 |
Total impaired loans | 38,377 | 47,378 | 46,509 |
Quater-to-date [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 374 | 343 | 377 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 265 | 412 | 354 |
Year-to-date [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 753 | 885 | 2,755 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 601 | $ 938 | $ 1,637 |
LOANS (Details 10)
LOANS (Details 10) - Purchased Loans [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid Contractual Principal Balance | $ 51,217 | $ 92,830 | $ 67,176 | $ 51,217 | $ 67,176 | $ 92,830 |
Recorded Investment With No Allowance | 10,779 | 12,368 | 18,723 | 10,779 | 18,723 | 12,368 |
Recorded Investment With Allowance | 27,598 | 34,141 | 28,655 | 27,598 | 28,655 | 34,141 |
Total Recorded Investment | 38,377 | 46,509 | 47,378 | 38,377 | 47,378 | 46,509 |
Related Allowance | 1,791 | 1,626 | 1,387 | 1,791 | 1,387 | 1,626 |
Average Recorded Investment | 41,217 | 45,729 | 50,699 | 42,979 | 50,207 | 49,616 |
Commercial Financial And Agricultural [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid Contractual Principal Balance | 1,679 | 5,031 | 2,976 | 1,679 | 2,976 | 5,031 |
Recorded Investment With No Allowance | 163 | 370 | 802 | 163 | 802 | 370 |
Recorded Investment With Allowance | 6 | 322 | 0 | 6 | 0 | 322 |
Total Recorded Investment | 169 | 692 | 802 | 169 | 802 | 692 |
Related Allowance | 0 | 0 | 0 | 0 | 0 | 0 |
Average Recorded Investment | 273 | 783 | 2,132 | 412 | 2,710 | 2,206 |
Real Estate Construction And Development [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid Contractual Principal Balance | 8,296 | 24,566 | 10,082 | 8,296 | 10,082 | 24,566 |
Recorded Investment With No Allowance | 524 | 493 | 1,538 | 524 | 1,538 | 493 |
Recorded Investment With Allowance | 2,967 | 3,477 | 2,550 | 2,967 | 2,550 | 3,477 |
Total Recorded Investment | 3,491 | 3,970 | 4,088 | 3,491 | 4,088 | 3,970 |
Related Allowance | 257 | 153 | 223 | 257 | 223 | 153 |
Average Recorded Investment | 3,491 | 3,888 | 4,273 | 3,650 | 4,164 | 4,279 |
Real Estate Commercial And Farmland [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid Contractual Principal Balance | 16,987 | 36,174 | 27,234 | 16,987 | 27,234 | 36,174 |
Recorded Investment With No Allowance | 2,418 | 3,598 | 4,202 | 2,418 | 4,202 | 3,598 |
Recorded Investment With Allowance | 11,616 | 15,036 | 15,211 | 11,616 | 15,211 | 15,036 |
Total Recorded Investment | 14,034 | 18,634 | 19,413 | 14,034 | 19,413 | 18,634 |
Related Allowance | 771 | 385 | 690 | 771 | 690 | 385 |
Average Recorded Investment | 16,167 | 17,806 | 21,581 | 16,989 | 20,433 | 19,872 |
Residential Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid Contractual Principal Balance | 24,219 | 27,022 | 26,781 | 24,219 | 26,781 | 27,022 |
Recorded Investment With No Allowance | 7,647 | 7,883 | 12,099 | 7,647 | 12,099 | 7,883 |
Recorded Investment With Allowance | 13,009 | 15,306 | 10,894 | 13,009 | 10,894 | 15,306 |
Total Recorded Investment | 20,656 | 23,189 | 22,993 | 20,656 | 22,993 | 23,189 |
Related Allowance | 763 | 1,088 | 474 | 763 | 474 | 1,088 |
Average Recorded Investment | 21,262 | 23,201 | 22,604 | 21,904 | 22,786 | 23,163 |
Consumer installment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Unpaid Contractual Principal Balance | 36 | 37 | 103 | 36 | 103 | 37 |
Recorded Investment With No Allowance | 27 | 24 | 82 | 27 | 82 | 24 |
Recorded Investment With Allowance | 0 | 0 | 0 | 0 | 0 | 0 |
Total Recorded Investment | 27 | 24 | 82 | 27 | 82 | 24 |
Related Allowance | 0 | 0 | 0 | 0 | 0 | 0 |
Average Recorded Investment | $ 24 | $ 51 | $ 109 | $ 24 | $ 114 | $ 96 |
LOANS (Details 11)
LOANS (Details 11) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | $ 5,670,841 | $ 5,264,326 |
Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 4,230,228 | 3,626,821 |
Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 1,218,633 | 967,138 |
Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 486,858 | 363,045 |
Real Estate - Commercial & Farmland [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 1,519,002 | 1,406,219 |
Real estate - residential [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 857,069 | 781,018 |
Consumer Installment Loans [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 147,505 | 96,915 |
Other [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 1,161 | 12,486 |
10 [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 490,514 | 414,564 |
10 [Member] | Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 475,310 | 397,093 |
10 [Member] | Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
10 [Member] | Real Estate - Commercial & Farmland [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 6,384 | 8,814 |
10 [Member] | Real estate - residential [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 51 | 125 |
10 [Member] | Consumer Installment Loans [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 8,769 | 8,532 |
10 [Member] | Other [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
15 [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 631,141 | 539,147 |
15 [Member] | Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 502,635 | 376,323 |
15 [Member] | Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 1,306 | 5,390 |
15 [Member] | Real Estate - Commercial & Farmland [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 81,494 | 102,893 |
15 [Member] | Real estate - residential [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 45,429 | 54,136 |
15 [Member] | Consumer Installment Loans [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 277 | 405 |
15 [Member] | Other [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
20 [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 1,875,308 | 1,669,998 |
20 [Member] | Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 108,940 | 97,057 |
20 [Member] | Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 47,672 | 36,307 |
20 [Member] | Real Estate - Commercial & Farmland [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 996,883 | 889,539 |
20 [Member] | Real estate - residential [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 696,382 | 609,583 |
20 [Member] | Consumer Installment Loans [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 24,270 | 25,026 |
20 [Member] | Other [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 1,161 | 12,486 |
23 [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 15,386 | 23,186 |
23 [Member] | Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 349 | 366 |
23 [Member] | Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 6,072 | 6,803 |
23 [Member] | Real Estate - Commercial & Farmland [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 3,055 | 8,533 |
23 [Member] | Real estate - residential [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 5,906 | 7,470 |
23 [Member] | Consumer Installment Loans [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 4 | 14 |
23 [Member] | Other [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
25 [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 1,147,786 | 907,588 |
25 [Member] | Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 120,987 | 92,066 |
25 [Member] | Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 424,915 | 307,903 |
25 [Member] | Real Estate - Commercial & Farmland [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 399,354 | 357,151 |
25 [Member] | Real estate - residential [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 89,100 | 88,370 |
25 [Member] | Consumer Installment Loans [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 113,430 | 62,098 |
25 [Member] | Other [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
30 [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 32,871 | 29,172 |
30 [Member] | Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 5,720 | 144 |
30 [Member] | Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 5,217 | 719 |
30 [Member] | Real Estate - Commercial & Farmland [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 16,817 | 22,986 |
30 [Member] | Real estate - residential [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 4,998 | 5,197 |
30 [Member] | Consumer Installment Loans [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 119 | 126 |
30 [Member] | Other [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
40 [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 37,116 | 43,067 |
40 [Member] | Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 4,685 | 4,089 |
40 [Member] | Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 1,676 | 5,923 |
40 [Member] | Real Estate - Commercial & Farmland [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 15,015 | 16,303 |
40 [Member] | Real estate - residential [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 15,104 | 16,038 |
40 [Member] | Consumer Installment Loans [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 636 | 714 |
40 [Member] | Other [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
50 [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 106 | 99 |
50 [Member] | Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 7 | 0 |
50 [Member] | Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
50 [Member] | Real Estate - Commercial & Farmland [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
50 [Member] | Real estate - residential [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 99 | 99 |
50 [Member] | Consumer Installment Loans [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
50 [Member] | Other [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
60 [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
60 [Member] | Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
60 [Member] | Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
60 [Member] | Real Estate - Commercial & Farmland [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
60 [Member] | Real estate - residential [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
60 [Member] | Consumer Installment Loans [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
60 [Member] | Other [Member] | Loans Excluding Purchased Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | $ 0 | $ 0 |
LOANS (Details 12)
LOANS (Details 12) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | $ 5,670,841 | $ 5,264,326 |
Purchased Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 950,499 | 1,069,191 |
Purchased Loans [Member] | 10 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 5,959 | 6,536 |
Purchased Loans [Member] | 15 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 39,391 | 40,786 |
Purchased Loans [Member] | 20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 327,449 | 334,353 |
Purchased Loans [Member] | 23 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 22,058 | 27,475 |
Purchased Loans [Member] | 25 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 459,903 | 569,026 |
Purchased Loans [Member] | 30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 41,869 | 35,032 |
Purchased Loans [Member] | 40 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 53,870 | 55,983 |
Purchased Loans [Member] | 50 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | 60 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Commercial Financial And Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 87,612 | 96,537 |
Purchased Loans [Member] | Commercial Financial And Agricultural [Member] | 10 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 5,202 | 5,722 |
Purchased Loans [Member] | Commercial Financial And Agricultural [Member] | 15 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 4,890 | 1,266 |
Purchased Loans [Member] | Commercial Financial And Agricultural [Member] | 20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 12,311 | 16,204 |
Purchased Loans [Member] | Commercial Financial And Agricultural [Member] | 23 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 22 | 22 |
Purchased Loans [Member] | Commercial Financial And Agricultural [Member] | 25 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 51,611 | 67,123 |
Purchased Loans [Member] | Commercial Financial And Agricultural [Member] | 30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 11,359 | 5,072 |
Purchased Loans [Member] | Commercial Financial And Agricultural [Member] | 40 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 2,217 | 1,128 |
Purchased Loans [Member] | Commercial Financial And Agricultural [Member] | 50 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Commercial Financial And Agricultural [Member] | 60 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Real Estate Construction And Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 73,567 | 81,368 |
Purchased Loans [Member] | Real Estate Construction And Development [Member] | 10 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Real Estate Construction And Development [Member] | 15 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Real Estate Construction And Development [Member] | 20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 12,289 | 10,686 |
Purchased Loans [Member] | Real Estate Construction And Development [Member] | 23 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 2,553 | 3,643 |
Purchased Loans [Member] | Real Estate Construction And Development [Member] | 25 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 46,179 | 56,006 |
Purchased Loans [Member] | Real Estate Construction And Development [Member] | 30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 9,215 | 7,271 |
Purchased Loans [Member] | Real Estate Construction And Development [Member] | 40 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 3,331 | 3,762 |
Purchased Loans [Member] | Real Estate Construction And Development [Member] | 50 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Real Estate Construction And Development [Member] | 60 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Real Estate Commercial And Farmland [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 510,312 | 576,355 |
Purchased Loans [Member] | Real Estate Commercial And Farmland [Member] | 10 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Real Estate Commercial And Farmland [Member] | 15 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 6,210 | 7,619 |
Purchased Loans [Member] | Real Estate Commercial And Farmland [Member] | 20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 190,506 | 194,168 |
Purchased Loans [Member] | Real Estate Commercial And Farmland [Member] | 23 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 8,139 | 9,019 |
Purchased Loans [Member] | Real Estate Commercial And Farmland [Member] | 25 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 261,911 | 323,242 |
Purchased Loans [Member] | Real Estate Commercial And Farmland [Member] | 30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 14,545 | 15,039 |
Purchased Loans [Member] | Real Estate Commercial And Farmland [Member] | 40 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 29,001 | 27,268 |
Purchased Loans [Member] | Real Estate Commercial And Farmland [Member] | 50 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Real Estate Commercial And Farmland [Member] | 60 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 275,504 | 310,277 |
Purchased Loans [Member] | Residential Real Estate [Member] | 10 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Residential Real Estate [Member] | 15 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 27,943 | 31,331 |
Purchased Loans [Member] | Residential Real Estate [Member] | 20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 111,033 | 111,712 |
Purchased Loans [Member] | Residential Real Estate [Member] | 23 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 11,344 | 14,791 |
Purchased Loans [Member] | Residential Real Estate [Member] | 25 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 99,248 | 121,379 |
Purchased Loans [Member] | Residential Real Estate [Member] | 30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 6,693 | 7,605 |
Purchased Loans [Member] | Residential Real Estate [Member] | 40 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 19,243 | 23,459 |
Purchased Loans [Member] | Residential Real Estate [Member] | 50 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Residential Real Estate [Member] | 60 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Consumer Installment Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 3,504 | 4,654 |
Purchased Loans [Member] | Consumer Installment Loans [Member] | 10 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 757 | 814 |
Purchased Loans [Member] | Consumer Installment Loans [Member] | 15 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 348 | 570 |
Purchased Loans [Member] | Consumer Installment Loans [Member] | 20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 1,310 | 1,583 |
Purchased Loans [Member] | Consumer Installment Loans [Member] | 23 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Consumer Installment Loans [Member] | 25 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 954 | 1,276 |
Purchased Loans [Member] | Consumer Installment Loans [Member] | 30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 57 | 45 |
Purchased Loans [Member] | Consumer Installment Loans [Member] | 40 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 78 | 366 |
Purchased Loans [Member] | Consumer Installment Loans [Member] | 50 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Consumer Installment Loans [Member] | 60 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Other [Member] | 10 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Other [Member] | 15 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Other [Member] | 20 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Other [Member] | 23 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Other [Member] | 25 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Other [Member] | 30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Other [Member] | 40 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Other [Member] | 50 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | 0 | 0 |
Purchased Loans [Member] | Other [Member] | 60 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans portfolio by risk grade | $ 0 | $ 0 |
LOANS (Details 13)
LOANS (Details 13) $ in Thousands | Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract |
Purchased Loans By Class Modified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 9 | 6 |
Troubled debt restructuring loans | $ | $ 1,907 | $ 1,230 |
Excluding Purchased Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 11 | 19 |
Troubled debt restructuring loans | $ | $ 1,170 | $ 2,465 |
Commercial, financial & agricultural [Member] | Purchased Loans By Class Modified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 1 | 1 |
Troubled debt restructuring loans | $ | $ 6 | $ 76 |
Commercial, financial & agricultural [Member] | Excluding Purchased Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 0 | 2 |
Troubled debt restructuring loans | $ | $ 0 | $ 28 |
Real Estate - construction & development [Member] | Purchased Loans By Class Modified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 0 | 0 |
Troubled debt restructuring loans | $ | $ 0 | $ 0 |
Real Estate - construction & development [Member] | Excluding Purchased Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 0 | 1 |
Troubled debt restructuring loans | $ | $ 0 | $ 6 |
Real estate - commercial & farmland [Member] | Purchased Loans By Class Modified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 4 | 2 |
Troubled debt restructuring loans | $ | $ 1,323 | $ 492 |
Real estate - commercial & farmland [Member] | Excluding Purchased Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 4 | 4 |
Troubled debt restructuring loans | $ | $ 1,062 | $ 1,666 |
Real estate - residential [Member] | Purchased Loans By Class Modified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 4 | 3 |
Troubled debt restructuring loans | $ | $ 578 | $ 662 |
Real estate - residential [Member] | Excluding Purchased Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 1 | 6 |
Troubled debt restructuring loans | $ | $ 77 | $ 739 |
Consumer installment [Member] | Purchased Loans By Class Modified [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 0 | 0 |
Troubled debt restructuring loans | $ | $ 0 | $ 0 |
Consumer installment [Member] | Excluding Purchased Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 6 | 6 |
Troubled debt restructuring loans | $ | $ 31 | $ 26 |
LOANS (Details 14)
LOANS (Details 14) $ in Thousands | Jun. 30, 2017USD ($)Contract | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($)Contract |
Loans Excluding Purchased Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt restructuring loans | $ 12,169 | $ 14,209 | $ 14,795 |
Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 22 | 11 | |
Troubled debt restructuring loans | $ 992 | $ 494 | |
Purchased Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt restructuring loans | $ 21,020 | $ 23,543 | $ 20,642 |
Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 7 | 10 | |
Troubled debt restructuring loans | $ 373 | $ 1,397 | |
Commercial Financial And Agricultural [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 2 | 2 | |
Troubled debt restructuring loans | $ 49 | $ 7 | |
Commercial Financial And Agricultural [Member] | Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 1 | 2 | |
Troubled debt restructuring loans | $ 6 | $ 76 | |
Real Estate Construction And Development [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 0 | 0 | |
Troubled debt restructuring loans | $ 0 | $ 0 | |
Real Estate Construction And Development [Member] | Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 0 | 2 | |
Troubled debt restructuring loans | $ 0 | $ 402 | |
Real Estate Commercial And Farmland [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 4 | 2 | |
Troubled debt restructuring loans | $ 362 | $ 191 | |
Real Estate Commercial And Farmland [Member] | Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 1 | 0 | |
Troubled debt restructuring loans | $ 226 | $ 0 | |
Residential Real Estate [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 9 | 6 | |
Troubled debt restructuring loans | $ 554 | $ 292 | |
Residential Real Estate [Member] | Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 4 | 6 | |
Troubled debt restructuring loans | $ 138 | $ 919 | |
Consumer installment [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 7 | 1 | |
Troubled debt restructuring loans | $ 27 | $ 4 | |
Consumer installment [Member] | Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 1 | 0 | |
Troubled debt restructuring loans | $ 3 | $ 0 |
LOANS (Details 15)
LOANS (Details 15) $ in Thousands | Jun. 30, 2017USD ($)Contract | Dec. 31, 2016USD ($)Contract | Jun. 30, 2016USD ($)Contract |
Purchased Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt restructuring loans | $ 21,020 | $ 23,543 | $ 20,642 |
Purchased Loans [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 55 | 46 | |
Troubled debt restructuring loans | $ 6,284 | $ 4,600 | |
Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 7 | 10 | |
Troubled debt restructuring loans | $ 373 | $ 1,397 | |
Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 140 | 153 | |
Troubled debt restructuring loans | $ 21,020 | $ 23,543 | |
Loans Excluding Purchased Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt restructuring loans | $ 12,169 | $ 14,209 | $ 14,795 |
Loans Excluding Purchased Loan [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 107 | 117 | |
Troubled debt restructuring loans | $ 12,169 | $ 14,209 | |
Loans Excluding Purchased Loan [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 72 | 69 | |
Troubled debt restructuring loans | $ 2,470 | $ 3,987 | |
Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 22 | 11 | |
Troubled debt restructuring loans | $ 992 | $ 494 | |
Commercial, financial & agricultural [Member] | Purchased Loans [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 0 | 1 | |
Troubled debt restructuring loans | $ 0 | $ 1 | |
Commercial, financial & agricultural [Member] | Purchased Loans [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 4 | 4 | |
Troubled debt restructuring loans | $ 21 | $ 91 | |
Commercial, financial & agricultural [Member] | Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 1 | 2 | |
Troubled debt restructuring loans | $ 6 | $ 76 | |
Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 3 | 4 | |
Troubled debt restructuring loans | $ 40 | $ 47 | |
Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 15 | 15 | |
Troubled debt restructuring loans | $ 136 | $ 114 | |
Commercial, financial & agricultural [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 2 | 2 | |
Troubled debt restructuring loans | $ 49 | $ 7 | |
Real Estate - construction & development [Member] | Purchased Loans [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 3 | 6 | |
Troubled debt restructuring loans | $ 1,028 | $ 1,358 | |
Real Estate - construction & development [Member] | Purchased Loans [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 6 | 3 | |
Troubled debt restructuring loans | $ 356 | $ 30 | |
Real Estate - construction & development [Member] | Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 0 | 2 | |
Troubled debt restructuring loans | $ 0 | $ 402 | |
Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 7 | 8 | |
Troubled debt restructuring loans | $ 429 | $ 686 | |
Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 2 | 2 | |
Troubled debt restructuring loans | $ 34 | $ 34 | |
Real Estate - construction & development [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 0 | 0 | |
Troubled debt restructuring loans | $ 0 | $ 0 | |
Real estate - commercial & farmland [Member] | Purchased Loans [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 17 | 20 | |
Troubled debt restructuring loans | $ 7,410 | $ 8,460 | |
Real estate - commercial & farmland [Member] | Purchased Loans [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 11 | 5 | |
Troubled debt restructuring loans | $ 3,935 | $ 2,402 | |
Real estate - commercial & farmland [Member] | Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 1 | 0 | |
Troubled debt restructuring loans | $ 226 | $ 0 | |
Real estate - commercial & farmland [Member] | Loans Excluding Purchased Loan [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 16 | 16 | |
Troubled debt restructuring loans | $ 4,859 | $ 4,119 | |
Real estate - commercial & farmland [Member] | Loans Excluding Purchased Loan [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 4 | 5 | |
Troubled debt restructuring loans | $ 192 | $ 2,970 | |
Real estate - commercial & farmland [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 4 | 2 | |
Troubled debt restructuring loans | $ 362 | $ 191 | |
Real Estate - Residential [Member] | Purchased Loans [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 120 | 123 | |
Troubled debt restructuring loans | $ 12,582 | $ 13,713 | |
Real Estate - Residential [Member] | Purchased Loans [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 32 | 33 | |
Troubled debt restructuring loans | $ 1,965 | $ 2,077 | |
Real Estate - Residential [Member] | Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 4 | 6 | |
Troubled debt restructuring loans | $ 138 | $ 919 | |
Real Estate - Residential [Member] | Loans Excluding Purchased Loan [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 74 | 82 | |
Troubled debt restructuring loans | $ 6,829 | $ 9,340 | |
Real Estate - Residential [Member] | Loans Excluding Purchased Loan [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 17 | 15 | |
Troubled debt restructuring loans | $ 1,975 | $ 739 | |
Real Estate - Residential [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 9 | 6 | |
Troubled debt restructuring loans | $ 554 | $ 292 | |
Consumer installment [Member] | Purchased Loans [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 0 | 3 | |
Troubled debt restructuring loans | $ 0 | $ 11 | |
Consumer installment [Member] | Purchased Loans [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 2 | 1 | |
Troubled debt restructuring loans | $ 7 | $ 0 | |
Consumer installment [Member] | Purchased Loans [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 1 | 0 | |
Troubled debt restructuring loans | $ 3 | $ 0 | |
Consumer installment [Member] | Loans Excluding Purchased Loan [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 7 | 7 | |
Troubled debt restructuring loans | $ 12 | $ 17 | |
Consumer installment [Member] | Loans Excluding Purchased Loan [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 34 | 32 | |
Troubled debt restructuring loans | $ 133 | $ 130 | |
Consumer installment [Member] | Loans Excluding Purchased Loan [Member] | Financing Receivables, 30 Days Past Due [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | Contract | 7 | 1 | |
Troubled debt restructuring loans | $ 27 | $ 4 |
LOANS (Details 16)
LOANS (Details 16) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning balance, Allowance | $ 25,250 | $ 21,482 | $ 23,920 | $ 21,062 | $ 21,062 | ||||||
Provision for loan losses | 2,205 | 889 | 4,041 | 1,570 | 4,091 | ||||||
Loans charged off | (3,284) | (1,376) | (4,386) | (3,190) | (6,327) | ||||||
Recoveries of loans previously charged off | 930 | 739 | 1,526 | 2,292 | 5,094 | ||||||
Ending balance, Allowance | 25,101 | 21,734 | 25,101 | 21,734 | 23,920 | ||||||
Loans individually evaluated for impairment, Allowance | $ 6,021 | [1] | $ 6,407 | [2] | $ 5,550 | [3] | |||||
Loans collectively evaluated for impairment, Allowance | 19,080 | 17,513 | 16,184 | ||||||||
Balance, Allowance | 25,250 | 21,482 | 23,920 | 21,062 | 23,920 | 25,101 | 23,920 | 21,734 | |||
Individually evaluated for impairment, Loan | 50,666 | [1] | 60,421 | [2] | 66,250 | [3] | |||||
Collectively evaluated for impairment, Loan | 5,491,980 | 5,055,371 | 4,383,132 | ||||||||
Acquired with deteriorated credit quality, Loan | 128,195 | 148,534 | 173,749 | ||||||||
Ending balance, Loan | 5,670,841 | 5,264,326 | 4,623,131 | ||||||||
Commercial Financial And Agricultural [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning balance, Allowance | 2,798 | 1,599 | 2,192 | 1,144 | 1,144 | ||||||
Provision for loan losses | 984 | 522 | 1,625 | 1,310 | 2,647 | ||||||
Loans charged off | (701) | (541) | (805) | (947) | (1,999) | ||||||
Recoveries of loans previously charged off | 221 | 87 | 290 | 160 | 400 | ||||||
Ending balance, Allowance | 3,302 | 1,667 | 3,302 | 1,667 | 2,192 | ||||||
Loans individually evaluated for impairment, Allowance | 691 | [1] | 120 | [2] | 137 | [3] | |||||
Loans collectively evaluated for impairment, Allowance | 2,611 | 2,072 | 1,530 | ||||||||
Balance, Allowance | 2,798 | 1,599 | 2,192 | 1,144 | 2,192 | 3,302 | 2,192 | 1,667 | |||
Individually evaluated for impairment, Loan | 2,418 | [1] | 501 | [2] | 819 | [3] | |||||
Collectively evaluated for impairment, Loan | 1,216,215 | 966,637 | 563,524 | ||||||||
Acquired with deteriorated credit quality, Loan | 0 | 0 | 0 | ||||||||
Ending balance, Loan | 1,218,633 | 967,138 | 564,343 | ||||||||
Real Estate Construction And Development [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning balance, Allowance | 3,597 | 3,925 | 2,990 | 5,009 | 5,009 | ||||||
Provision for loan losses | 102 | (438) | 742 | (1,489) | (1,921) | ||||||
Loans charged off | (41) | (109) | (94) | (264) | (588) | ||||||
Recoveries of loans previously charged off | 98 | 221 | 118 | 343 | 490 | ||||||
Ending balance, Allowance | 3,756 | 3,599 | 3,756 | 3,599 | 2,990 | ||||||
Loans individually evaluated for impairment, Allowance | 174 | [1] | 266 | [2] | 690 | [3] | |||||
Loans collectively evaluated for impairment, Allowance | 3,582 | 2,724 | 2,909 | ||||||||
Balance, Allowance | 3,597 | 3,925 | 2,990 | 5,009 | 2,990 | 3,756 | 2,990 | 3,599 | |||
Individually evaluated for impairment, Loan | 636 | [1] | 659 | [2] | 1,465 | [3] | |||||
Collectively evaluated for impairment, Loan | 486,222 | 362,386 | 273,252 | ||||||||
Acquired with deteriorated credit quality, Loan | 0 | 0 | 0 | ||||||||
Ending balance, Loan | 486,858 | 363,045 | 274,717 | ||||||||
Real estate - commercial & farmland [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning balance, Allowance | 7,879 | 7,099 | 7,662 | 7,994 | 7,994 | ||||||
Provision for loan losses | 255 | 664 | 472 | (5) | 107 | ||||||
Loans charged off | (386) | (361) | (395) | (708) | (708) | ||||||
Recoveries of loans previously charged off | 121 | 57 | 130 | 178 | 269 | ||||||
Ending balance, Allowance | 7,869 | 7,459 | 7,869 | 7,459 | 7,662 | ||||||
Loans individually evaluated for impairment, Allowance | 1,437 | [1] | 1,502 | [2] | 997 | [3] | |||||
Loans collectively evaluated for impairment, Allowance | 6,432 | 6,160 | 6,462 | ||||||||
Balance, Allowance | 7,879 | 7,099 | 7,662 | 7,994 | 7,662 | 7,869 | 7,662 | 7,459 | |||
Individually evaluated for impairment, Loan | 10,814 | [1] | 12,423 | [2] | 11,870 | [3] | |||||
Collectively evaluated for impairment, Loan | 1,508,188 | 1,393,796 | 1,236,710 | ||||||||
Acquired with deteriorated credit quality, Loan | 0 | 0 | 0 | ||||||||
Ending balance, Loan | 1,519,002 | 1,406,219 | 1,248,580 | ||||||||
Residential Real Estate [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning balance, Allowance | 5,840 | 4,631 | 6,786 | 4,760 | 4,760 | ||||||
Provision for loan losses | 655 | (259) | (136) | (234) | 2,757 | ||||||
Loans charged off | (963) | (123) | (1,179) | (591) | (1,122) | ||||||
Recoveries of loans previously charged off | 73 | 14 | 134 | 328 | 391 | ||||||
Ending balance, Allowance | 5,605 | 4,263 | 5,605 | 4,263 | 6,786 | ||||||
Loans individually evaluated for impairment, Allowance | 1,748 | [1] | 2,893 | [2] | 2,339 | [3] | |||||
Loans collectively evaluated for impairment, Allowance | 3,857 | 3,893 | 1,924 | ||||||||
Balance, Allowance | 5,840 | 4,631 | 6,786 | 4,760 | 6,786 | 5,605 | 6,786 | 4,263 | |||
Individually evaluated for impairment, Loan | 8,282 | [1] | 12,697 | [2] | 10,345 | [3] | |||||
Collectively evaluated for impairment, Loan | 848,787 | 768,321 | 669,888 | ||||||||
Acquired with deteriorated credit quality, Loan | 0 | 0 | 0 | ||||||||
Ending balance, Loan | 857,069 | 781,018 | 680,233 | ||||||||
Consumer installment loans and Other [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning balance, Allowance | 854 | 1,939 | 827 | 1,574 | 1,574 | ||||||
Provision for loan losses | 695 | 264 | 869 | 663 | (523) | ||||||
Loans charged off | (438) | (59) | (602) | (118) | (351) | ||||||
Recoveries of loans previously charged off | 44 | 16 | 61 | 41 | 127 | ||||||
Ending balance, Allowance | 1,155 | 2,160 | 1,155 | 2,160 | 827 | ||||||
Loans individually evaluated for impairment, Allowance | 0 | [1] | 0 | [2] | 0 | [3] | |||||
Loans collectively evaluated for impairment, Allowance | 1,155 | 827 | 2,160 | ||||||||
Balance, Allowance | 854 | 1,939 | 827 | 1,574 | 827 | 1,155 | 827 | 2,160 | |||
Individually evaluated for impairment, Loan | 0 | [1] | 0 | [2] | 0 | [3] | |||||
Collectively evaluated for impairment, Loan | 148,666 | 109,401 | 51,198 | ||||||||
Acquired with deteriorated credit quality, Loan | 0 | 0 | 0 | ||||||||
Ending balance, Loan | 148,666 | 109,401 | 51,198 | ||||||||
Purchased Loan Pools [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning balance, Allowance | 2,086 | 1,306 | 1,837 | 581 | 581 | ||||||
Provision for loan losses | (463) | (107) | (214) | 618 | 1,256 | ||||||
Loans charged off | 0 | 0 | 0 | 0 | 0 | ||||||
Recoveries of loans previously charged off | 0 | 0 | 0 | 0 | 0 | ||||||
Ending balance, Allowance | 1,623 | 1,199 | 1,623 | 1,199 | 1,837 | ||||||
Loans individually evaluated for impairment, Allowance | 180 | [1] | 0 | [2] | 0 | [3] | |||||
Loans collectively evaluated for impairment, Allowance | 1,443 | 1,837 | 1,199 | ||||||||
Balance, Allowance | 2,086 | 1,306 | 1,837 | 581 | 1,837 | 1,623 | 1,837 | 1,199 | |||
Individually evaluated for impairment, Loan | 918 | [1] | 0 | [2] | 0 | [3] | |||||
Collectively evaluated for impairment, Loan | 489,196 | 568,314 | 610,425 | ||||||||
Acquired with deteriorated credit quality, Loan | 0 | 0 | 0 | ||||||||
Ending balance, Loan | 490,114 | 568,314 | 610,425 | ||||||||
Purchased Loans [Member] | |||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||
Beginning balance, Allowance | 2,196 | 983 | 1,626 | 0 | 0 | ||||||
Provision for loan losses | (23) | 243 | 683 | 707 | (232) | ||||||
Loans charged off | (755) | (183) | (1,311) | (562) | (1,559) | ||||||
Recoveries of loans previously charged off | 373 | 344 | 793 | 1,242 | 3,417 | ||||||
Ending balance, Allowance | 1,791 | 1,387 | 1,791 | 1,387 | 1,626 | ||||||
Loans individually evaluated for impairment, Allowance | 1,791 | [1] | 1,626 | [2] | 1,387 | [3] | |||||
Loans collectively evaluated for impairment, Allowance | 0 | 0 | 0 | ||||||||
Balance, Allowance | $ 2,196 | $ 983 | $ 1,626 | $ 0 | $ 1,626 | 1,791 | 1,626 | 1,387 | |||
Individually evaluated for impairment, Loan | 27,598 | [1] | 34,141 | [2] | 41,751 | [3] | |||||
Collectively evaluated for impairment, Loan | 794,706 | 886,516 | 978,135 | ||||||||
Acquired with deteriorated credit quality, Loan | 128,195 | 148,534 | 173,749 | ||||||||
Ending balance, Loan | $ 950,499 | $ 1,069,191 | $ 1,193,635 | ||||||||
[1] | At June 30, 2017, loans individually evaluated for impairment includes all nonaccrual loans greater than $100,000 and all troubled debt restructurings greater than $100,000, including all troubled debt restructurings and not only those currently classified as troubled debt restructurings. | ||||||||||
[2] | At December 31, 2016, loans individually evaluated for impairment includes all nonaccrual loans greater than $100,000 and all troubled debt restructurings greater than $100,000, including all troubled debt restructurings and not only those currently classified as troubled debt restructurings. | ||||||||||
[3] | At June 30, 2016, loans individually evaluated for impairment includes all nonaccrual loans greater than $100,000 and all troubled debt restructurings greater than $100,000, including all troubled debt restructurings and not only those currently classified as troubled debt restructurings. |
LOANS (Details Textual)
LOANS (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled debt restructurings, previous charge-offs | $ 2,000,000 | $ 1,200,000 | |
Allowance for loan losses allocated to troubled debt restructurings | 1,700,000 | 3,100,000 | |
Purchased Loan Pools | 490,100,000 | 568,300,000 | |
Troubled Debt Restructurings Excluding Purchased Loans | 14,600,000 | 18,200,000 | |
Purchased loan pools principal balance | 483,200,000 | 559,400,000 | |
Purchased pool loans unamortized purchase premium | 6,900,000 | 8,900,000 | |
Allowance for Loan and Lease Losses, Purchased Loan Pools | 1,600,000 | 1,800,000 | |
Loans Modified That Are Not Troubled Debt Restructurings | 16,200,000 | $ 36,800,000 | |
Purchased Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 17,357,000 | 26,736,000 | 22,966,000 |
Troubled debt restructurings, previous charge-offs | 1,500,000 | 1,500,000 | |
Troubled debt restructurings principal balances | 1,900,000 | 1,200,000 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 373,000 | 1,400,000 | |
Troubled debt restructuring loans | 21,020,000 | 20,642,000 | 23,543,000 |
Purchased Loan Pools | 918,000 | 925,000 | |
Purchased Loans carrying value | 950,500,000 | 1,070,000,000 | |
Troubled Debt Restructuring | 27,300,000 | 28,100,000 | |
Loans Excluding Purchased Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 17,083,000 | 16,003,000 | 18,114,000 |
Troubled debt restructurings principal balances | 1,200,000 | 2,500,000 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 992,000 | 494,000 | |
Troubled debt restructuring loans | 12,169,000 | 14,795,000 | 14,209,000 |
Commercial Insurance Premium Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net Amount | 476,600,000 | 353,900,000 | |
Consumer Installment Home Improvement Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net Amount | 112,100,000 | 60,800,000 | |
Minimum [Member] | Substandard [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 100,000 | 100,000 | 100,000 |
Troubled debt restructuring loans | 100,000 | $ 100,000 | $ 100,000 |
Minimum [Member] | Independent Third Party Loan Review [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Amount of loan relationship subject to sampling for annual review | $ 500,000 |
ASSETS ACQUIRED IN FDIC-ASSIS62
ASSETS ACQUIRED IN FDIC-ASSISTED ACQUISITIONS (Details) | 6 Months Ended |
Jun. 30, 2017Number | |
American United Bank (AUB) [Member] | |
Business Acquisition [Line Items] | |
Branches | 1 |
Date Acquired | Oct. 23, 2009 |
United Security Bank (USB) [Member] | |
Business Acquisition [Line Items] | |
Branches | 2 |
Date Acquired | Nov. 6, 2009 |
Satilla Community Bank (SCB) [Member] | |
Business Acquisition [Line Items] | |
Branches | 1 |
Date Acquired | May 14, 2010 |
First Bank of Jacksonville (FBJ) [Member] | |
Business Acquisition [Line Items] | |
Branches | 2 |
Date Acquired | Oct. 22, 2010 |
Tifton Banking Company (TBC) [Member] | |
Business Acquisition [Line Items] | |
Branches | 1 |
Date Acquired | Nov. 12, 2010 |
Darby Bank & Trust (DBT) [Member] | |
Business Acquisition [Line Items] | |
Branches | 7 |
Date Acquired | Nov. 12, 2010 |
High Trust Bank (HTB) [Member] | |
Business Acquisition [Line Items] | |
Branches | 2 |
Date Acquired | Jul. 15, 2011 |
One Georgia Bank (OGB) [Member] | |
Business Acquisition [Line Items] | |
Branches | 1 |
Date Acquired | Jul. 15, 2011 |
Central Bank of Georgia (CBG) [Member] | |
Business Acquisition [Line Items] | |
Branches | 5 |
Date Acquired | Feb. 24, 2012 |
Montgomery Bank & Trust (MBT) [Member] | |
Business Acquisition [Line Items] | |
Branches | 2 |
Date Acquired | Jul. 6, 2012 |
ASSETS ACQUIRED IN FDIC-ASSIS63
ASSETS ACQUIRED IN FDIC-ASSISTED ACQUISITIONS (Details 1) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Covered Assets [Line Items] | ||||
Covered loans | $ 35,391 | $ 61,269 | ||
Less: Fair value adjustments | 1,694 | 3,109 | ||
Total covered loans | 33,697 | 58,160 | ||
OREO | 215 | 1,212 | ||
Less: Fair value adjustments | 0 | 4 | ||
Total covered OREO | 215 | 1,208 | ||
Total covered assets | 33,912 | 59,368 | ||
FDIC loss-share receivable | $ 6,301 | |||
FDIC loss-share payable | (7,992) | (6,313) | $ (1,897) | |
American United Bank [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 0 | 0 | ||
Less: Fair value adjustments | 0 | 0 | ||
Total covered loans | 0 | 0 | ||
OREO | 0 | 0 | ||
Less: Fair value adjustments | 0 | 0 | ||
Total covered OREO | 0 | 0 | ||
Total covered assets | 0 | 0 | ||
FDIC loss-share payable | 0 | (27) | ||
United Security Bank [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 2,933 | 3,199 | ||
Less: Fair value adjustments | 12 | 13 | ||
Total covered loans | 2,921 | 3,186 | ||
OREO | 0 | 51 | ||
Less: Fair value adjustments | 0 | 0 | ||
Total covered OREO | 0 | 51 | ||
Total covered assets | 2,921 | 3,237 | ||
FDIC loss-share payable | (1,726) | (1,642) | ||
Satilla Community Bank [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 3,230 | 4,019 | ||
Less: Fair value adjustments | 30 | 51 | ||
Total covered loans | 3,200 | 3,968 | ||
OREO | 0 | 0 | ||
Less: Fair value adjustments | 0 | 0 | ||
Total covered OREO | 0 | 0 | ||
Total covered assets | 3,200 | 3,968 | ||
FDIC loss-share receivable | 69 | |||
FDIC loss-share payable | (32) | |||
First Bank of Jacksonville [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 3,682 | 3,767 | ||
Less: Fair value adjustments | 414 | 452 | ||
Total covered loans | 3,268 | 3,315 | ||
OREO | 0 | 0 | ||
Less: Fair value adjustments | 0 | 0 | ||
Total covered OREO | 0 | 0 | ||
Total covered assets | 3,268 | 3,315 | ||
FDIC loss-share payable | (302) | (234) | ||
Darby Bank and Trust [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 10,360 | 12,166 | ||
Less: Fair value adjustments | 406 | 565 | ||
Total covered loans | 9,954 | 11,601 | ||
OREO | 0 | 0 | ||
Less: Fair value adjustments | 0 | 0 | ||
Total covered OREO | 0 | 0 | ||
Total covered assets | 9,954 | 11,601 | ||
FDIC loss-share payable | (4,299) | (4,591) | ||
Tifton Banking Company [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 1,708 | 1,679 | ||
Less: Fair value adjustments | 0 | 0 | ||
Total covered loans | 1,708 | 1,679 | ||
OREO | 0 | 0 | ||
Less: Fair value adjustments | 0 | 0 | ||
Total covered OREO | 0 | 0 | ||
Total covered assets | 1,708 | 1,679 | ||
FDIC loss-share payable | (50) | (33) | ||
High Trust Bank [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 1,885 | 1,913 | ||
Less: Fair value adjustments | 28 | 33 | ||
Total covered loans | 1,857 | 1,880 | ||
OREO | 0 | 0 | ||
Less: Fair value adjustments | 0 | 0 | ||
Total covered OREO | 0 | 0 | ||
Total covered assets | 1,857 | 1,880 | ||
FDIC loss-share receivable | 734 | |||
FDIC loss-share payable | (59) | |||
One Georgia Bank [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 939 | 1,077 | ||
Less: Fair value adjustments | 31 | 32 | ||
Total covered loans | 908 | 1,045 | ||
OREO | 0 | 0 | ||
Less: Fair value adjustments | 0 | 0 | ||
Total covered OREO | 0 | 0 | ||
Total covered assets | 908 | 1,045 | ||
FDIC loss-share payable | (1,103) | (993) | ||
Central Bank of Georgia [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 10,654 | 33,449 | ||
Less: Fair value adjustments | 773 | 1,963 | ||
Total covered loans | 9,881 | 31,486 | ||
OREO | 215 | 1,161 | ||
Less: Fair value adjustments | 0 | 4 | ||
Total covered OREO | 215 | 1,157 | ||
Total covered assets | 10,096 | 32,643 | ||
FDIC loss-share receivable | $ 505 | |||
FDIC loss-share payable | $ (522) |
ASSETS ACQUIRED IN FDIC-ASSIS64
ASSETS ACQUIRED IN FDIC-ASSISTED ACQUISITIONS (Details 2) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Business Combinations [Abstract] | ||
Beginning balance | $ 6,301 | |
Beginning balance | $ (6,313) | |
Payments paid to (received from) FDIC | (230) | (4,165) |
Amortization | (595) | (2,737) |
Change in clawback liability | (398) | (345) |
Net charge-offs (recoveries) on covered loans | (648) | (929) |
Loss (gain) on covered other real estate owned | (40) | 774 |
Reimbursable expenses on covered assets | 242 | 429 |
Other activity, net | (10) | (1,225) |
Ending balance | $ (7,992) | $ (1,897) |
ASSETS ACQUIRED IN FDIC-ASSIS65
ASSETS ACQUIRED IN FDIC-ASSISTED ACQUISITIONS (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2012 | Jun. 30, 2017 | Dec. 31, 2016 | |
Business Combinations [Abstract] | |||
Current Activity Incurred | $ 537,000 | ||
Clawback Liability | 9,700,000 | $ 9,300,000 | |
Reimbursement Revenue | $ 87,000 | ||
FDIC loss-sharing payable | 8,000,000 | ||
Remaining Indemnification | $ 1,200,000 |
OTHER REAL ESTATE OWNED (Detail
OTHER REAL ESTATE OWNED (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Beginning balance, January 1 | $ 10,874 | $ 16,147 |
Loans transferred to other real estate owned | 3,347 | 1,499 |
Net gains (losses) on sale and write-downs recorded in statement of income | (553) | (1,057) |
Sales proceeds | (2,185) | (2,824) |
Ending balance | $ 11,483 | $ 13,765 |
OTHER REAL ESTATE OWNED (Deta67
OTHER REAL ESTATE OWNED (Details 1) - Purchased Other Real Estate Owned [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Beginning balance, January 1 | $ 12,540 | $ 19,344 |
Loans transferred to other real estate owned | 3,281 | 3,420 |
Acquired in acquisitions | 0 | 1,838 |
Portion of gains (losses) on sale and write-downs payable to (receivable from) the FDIC under loss-sharing agreements | 40 | 0 |
Net gains (losses) on sale and write-downs recorded in statement of income | 819 | (938) |
Sales proceeds | (5,350) | (6,994) |
Ending balance | $ 11,330 | $ 16,670 |
SECURITIES SOLD UNDER AGREEME68
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Disclosure of Repurchase Agreements | ||
Securities sold under agreements to repurchase | $ 18,400 | $ 53,505 |
OTHER BORROWINGS (Details)
OTHER BORROWINGS (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Other Borrowings [Line Items] | ||
Other borrowings | $ 679,591 | $ 492,321 |
Fixed Rate Advance [Member] | ||
Other Borrowings [Line Items] | ||
Advance from correspondent bank | 350,000 | 0 |
Fixed Rate Advance One [Member] | ||
Other Borrowings [Line Items] | ||
Advance from correspondent bank | 0 | 5,006 |
Daily Rate Credit From Federal Home Loan Bank [Member] | ||
Other Borrowings [Line Items] | ||
Advance from correspondent bank | 254,000 | 150,000 |
Fixed Rate Advance Two [Member] | ||
Other Borrowings [Line Items] | ||
Advance from correspondent bank | 0 | 292,500 |
Fixed Rate Advance Three [Member] | ||
Other Borrowings [Line Items] | ||
Advance from correspondent bank | 0 | 4,002 |
Subordinated Debt One [Member] | ||
Other Borrowings [Line Items] | ||
Subordinated debt issued | 73,730 | 0 |
Correspondent Bank Advances [Member] | ||
Other Borrowings [Line Items] | ||
Other borrowings | 63 | 77 |
Correspondent Bank Advances One [Member] | ||
Other Borrowings [Line Items] | ||
Other borrowings | 1,798 | 1,886 |
Revolving Credit Facility [Member] | ||
Other Borrowings [Line Items] | ||
Long-term Line of Credit | 0 | 38,000 |
Correspondent Bank Advances Two [Member] | ||
Other Borrowings [Line Items] | ||
Long-term Line of Credit | $ 0 | $ 850 |
OTHER BORROWINGS _Parenthetical
OTHER BORROWINGS [Parenthetical] (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Fixed Rate Advance [Member] | ||
Other Borrowings [Line Items] | ||
Debt Instrument, Interest Rate, Effective Percentage | 1.07% | |
Debt instrument, maturity period | July 7, 2017 | |
Fixed Rate Advance One [Member] | ||
Other Borrowings [Line Items] | ||
Debt Instrument, Interest Rate, Effective Percentage | 1.23% | |
Debt instrument, maturity period | May 30, 2017 | |
Daily Rate Credit From Federal Home Loan Bank [Member] | ||
Other Borrowings [Line Items] | ||
Debt Instrument, Interest Rate, Effective Percentage | 1.32% | 0.80% |
Fixed Rate Advance Two [Member] | ||
Other Borrowings [Line Items] | ||
Debt Instrument, Interest Rate, Effective Percentage | 0.56% | |
Debt instrument, maturity period | January 6, 2017 | |
Fixed Rate Advance Three [Member] | ||
Other Borrowings [Line Items] | ||
Debt Instrument, Interest Rate, Effective Percentage | 1.40% | |
Debt instrument, maturity period | January 9, 2017 | |
Subordinated Debt [Member] | ||
Other Borrowings [Line Items] | ||
Debt Instrument, Description of Variable Rate Basis | Subordinated notes payable due March 15, 2027 net of unamortized debt issuance cost of $1,270; fixed interest rate of 5.75% through March 14, 2022; variable interest rate thereafter at three-month LIBOR plus 3.616% | |
Debt Instrument, Interest Rate, Effective Percentage | 5.75% | |
Debt instrument, maturity period | March 15, 2027 | |
Unamortized Debt Issuance Expense | $ 1,270 | |
Correspondent Bank Advances [Member] | ||
Other Borrowings [Line Items] | ||
Debt Instrument, Interest Rate, Effective Percentage | 4.25% | |
Debt instrument, maturity period | October 5, 2019 | |
Correspondent Bank Advances One [Member] | ||
Other Borrowings [Line Items] | ||
Debt Instrument, Interest Rate, Effective Percentage | 2.09% | |
Debt instrument, maturity period | September 5, 2026 | |
Revolving Credit Facility [Member] | ||
Other Borrowings [Line Items] | ||
Debt Instrument, Description of Variable Rate Basis | Advances under revolving credit agreement with a regional bank due September 26, 2017; secured by subsidiary bank stock; variable interest rate at 90-day LIBOR plus 3.50% (4.43% at December 31, 2016) | |
Debt Instrument, Interest Rate, Effective Percentage | 4.43% | |
Debt instrument, maturity period | September 26, 2017 | |
Revolving Credit Facility One [Member] | ||
Other Borrowings [Line Items] | ||
Debt Instrument, Interest Rate, Effective Percentage | 8.00% | |
Debt instrument, maturity period | January 7, 2017 |
OTHER BORROWINGS (Details Textu
OTHER BORROWINGS (Details Textual) - USD ($) $ in Thousands | Mar. 15, 2022 | Jun. 30, 2017 | Mar. 13, 2017 | Dec. 31, 2016 |
Other borrowings | $ 679,591 | $ 492,321 | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 560,300 | |||
Credit arrangements for federal funds purchase | 82,000 | |||
Pledged Assets Separately Reported, Loans Pledged for Federal Reserve Bank, at Fair Value | 989,900 | |||
Line of Credit Facility, Remaining Borrowing Capacity | 60,000 | |||
Loans pledged at federal reserve discount window available for borrowing | $ 644,300 | |||
Senior Subordinated Notes [Member] | ||||
Debt Instrument, Face Amount | $ 75,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | |||
Debt Instrument, Interest Rate Terms | The subordinated notes will mature on March 15, 2027 and through March 14, 2022 will bear a fixed rate of interest of 5.75% per annum, payable semi-annually in arrears on September 15 and March 15 of each year. Beginning March 15, 2022, the interest rate on the subordinated notes resets quarterly to a floating rate per annum equal to the then-current three-month LIBOR plus 3.616%, payable quarterly in arrears on June 15, September 15, December 15, and March 15 of each year to the maturity date or earlier redemption. | |||
Senior Subordinated Notes [Member] | Scenario, Forecast [Member] | ||||
Debt Instrument, Redemption Price, Percentage | 100.00% |
COMMITMENTS AND CONTINGENCIES72
COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Commitments to extend credit | $ 1,042,343 | $ 1,101,257 |
Unused home equity lines of credit | 64,561 | 62,586 |
Financial standby letters of credit | 12,928 | 14,257 |
Mortgage interest rate lock commitments | 138,325 | 91,426 |
Mortgage forward contracts with positive fair value | $ 149,250 | $ 150,000 |
COMMITMENTS AND CONTINGENCIES73
COMMITMENTS AND CONTINGENCIES (Details Textual) - USD ($) $ in Millions | Aug. 08, 2013 | Jun. 30, 2017 |
Loss Contingency, Damages Sought, Value | $ 2.9 | |
Federal Home Loan Bank [Member] | Letter of Credit [Member] | ||
Letter of Credit | $ 75 |
SHAREHOLDERS' EQUITY (Details T
SHAREHOLDERS' EQUITY (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Mar. 06, 2017 | Mar. 31, 2017 | Jan. 18, 2017 | Jun. 30, 2017 | Jun. 30, 2016 |
Proceeds from Issuance of Common Stock | $ 88,656 | $ 0 | |||
Payments For Capital Contribution | $ 110,000 | ||||
Underwritten Public Offering [Member] | |||||
Shares Issued, Price Per Share | $ 46.50 | ||||
Stock Issued During Period, Shares, New Issues | 2,012,500 | ||||
Proceeds from Issuance of Common Stock | $ 88,700 | ||||
Public Offering Deduction Amount | $ 4,900 | ||||
US Premium Financing Holding Company [Member] | |||||
Stock Issued During Period, Shares, Purchase of Assets | 128,572 | 128,572 | |||
Shares Issued, Price Per Share | $ 45.45 | ||||
Stock Issued During Period, Value, Purchase of Assets | $ 5,800 | $ 5,844 | |||
Cost Method Investments Ownership Percentage | 4.99% |
ACCUMULATED OTHER COMPREHENSI75
ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | $ (1,058) | $ 3,353 | ||
Reclassification for gains included in net income, net of tax | $ (24) | $ 0 | (24) | (61) |
Current year changes, net of tax | 2,503 | 9,668 | ||
Ending Balance | 1,421 | 12,960 | 1,421 | 12,960 |
Unrealized Gain (Loss) on Derivatives [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | 176 | 152 | ||
Reclassification for gains included in net income, net of tax | 0 | 0 | ||
Current year changes, net of tax | (63) | (808) | ||
Ending Balance | 113 | (656) | 113 | (656) |
Unrealized Gain (Loss) on Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (1,234) | 3,201 | ||
Reclassification for gains included in net income, net of tax | (24) | (61) | ||
Current year changes, net of tax | 2,566 | 10,476 | ||
Ending Balance | $ 1,308 | $ 13,616 | $ 1,308 | $ 13,616 |
WEIGHTED AVERAGE SHARES OUTST76
WEIGHTED AVERAGE SHARES OUTSTANDING (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Average common shares outstanding | 37,163 | 34,833 | 36,418 | 33,792 |
Common share equivalents: | ||||
Stock options | 73 | 117 | 73 | 113 |
Nonvested restricted share grants | 253 | 203 | 253 | 202 |
Average common shares outstanding, assuming dilution | 37,489 | 35,153 | 36,744 | 34,107 |
FAIR VALUE MEASURES (Details)
FAIR VALUE MEASURES (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Loans Held for Sale are Carried at Fair Value [Line Items] | ||
Loans held for sale | $ 146,766 | $ 105,924 |
Mortgage loans held for sale[Member] | ||
Loans Held for Sale are Carried at Fair Value [Line Items] | ||
Loans held for sale | 123,119 | 105,924 |
SBA loans held for sale [Member] | ||
Loans Held for Sale are Carried at Fair Value [Line Items] | ||
Loans held for sale | $ 23,647 | $ 0 |
FAIR VALUE MEASURES (Details 1)
FAIR VALUE MEASURES (Details 1) - Mortgage Loans Held for Sale [Member] - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Assets And Liabilities Carrying Value And Fair Value [Line Items] | ||
Aggregate fair value of mortgage loans held for sale | $ 123,119 | $ 105,924 |
Aggregate unpaid principal balance | 118,900 | 103,691 |
Past-due loans of 90 days or more | 0 | 0 |
Nonaccrual loans | $ 0 | $ 0 |
FAIR VALUE MEASURES (Details 2)
FAIR VALUE MEASURES (Details 2) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | $ 970,358 | $ 932,973 |
Recurring liabilities at fair value | 1,173 | 978 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 0 | 0 |
Recurring liabilities at fair value | 0 | 0 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 968,858 | 931,473 |
Recurring liabilities at fair value | 1,173 | 978 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 1,500 | 1,500 |
Recurring liabilities at fair value | 0 | 0 |
U.S. government sponsored agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 1,009 | 1,020 |
U.S. government sponsored agencies [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 0 | 0 |
U.S. government sponsored agencies [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 1,009 | 1,020 |
U.S. government sponsored agencies [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 0 | 0 |
State, county and municipal securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 145,108 | 152,035 |
State, county and municipal securities [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 0 | 0 |
State, county and municipal securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 145,108 | 152,035 |
State, county and municipal securities [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 0 | 0 |
Corporate debt securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 47,612 | 32,172 |
Corporate debt securities [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 0 | 0 |
Corporate debt securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 46,112 | 30,672 |
Corporate debt securities [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 1,500 | 1,500 |
Mortgage-backed securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 624,964 | 637,508 |
Mortgage-backed securities [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 0 | 0 |
Mortgage-backed securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 624,964 | 637,508 |
Mortgage-backed securities [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 0 | 0 |
Loans held for sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 146,766 | 105,924 |
Loans held for sale [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 0 | 0 |
Loans held for sale [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 146,766 | 105,924 |
Loans held for sale [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 0 | 0 |
Derivative financial instruments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring liabilities at fair value | 867 | 978 |
Derivative financial instruments [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring liabilities at fair value | 0 | 0 |
Derivative financial instruments [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring liabilities at fair value | 867 | 978 |
Derivative financial instruments [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring liabilities at fair value | 0 | 0 |
Mortgage banking derivative instruments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 4,899 | 4,314 |
Recurring liabilities at fair value | 306 | |
Mortgage banking derivative instruments [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 0 | 0 |
Recurring liabilities at fair value | 0 | |
Mortgage banking derivative instruments [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 4,899 | 4,314 |
Recurring liabilities at fair value | 306 | |
Mortgage banking derivative instruments [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Recurring assets at fair value | 0 | $ 0 |
Recurring liabilities at fair value | $ 0 |
FAIR VALUE MEASURES (Details 3)
FAIR VALUE MEASURES (Details 3) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | $ 38,388 | $ 41,965 |
Level 1 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 0 | 0 |
Level 2 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 0 | 0 |
Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 38,388 | 41,965 |
Impaired loans carried at fair value [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 26,605 | 28,253 |
Impaired loans carried at fair value [Member] | Level 1 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 0 | 0 |
Impaired loans carried at fair value [Member] | Level 2 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 0 | 0 |
Impaired loans carried at fair value [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 26,605 | 28,253 |
Other real estate owned [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 453 | 1,172 |
Other real estate owned [Member] | Level 1 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 0 | 0 |
Other real estate owned [Member] | Level 2 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 0 | 0 |
Other real estate owned [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 453 | 1,172 |
Purchased other real estate owned [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 11,330 | 12,540 |
Purchased other real estate owned [Member] | Level 1 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 0 | 0 |
Purchased other real estate owned [Member] | Level 2 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | 0 | 0 |
Purchased other real estate owned [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Nonrecurring assets at fair value | $ 11,330 | $ 12,540 |
FAIR VALUE MEASURES (Details 4)
FAIR VALUE MEASURES (Details 4) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Disclosure, Nonrecurring | $ 38,388 | $ 41,965 |
Assets, Fair Value Disclosure, Recurring | 970,358 | 932,973 |
Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Disclosure, Nonrecurring | 38,388 | 41,965 |
Assets, Fair Value Disclosure, Recurring | 1,500 | 1,500 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | $ 1,500 | $ 1,500 |
Valuation Technique | Discounted par values | Discounted par values |
Fair Value Measurements Unobservable Inputs | Credit quality of underlying issuer | Credit quality of underlying issuer |
Fair value inputs discount rate range | 0.00% | 0.00% |
Fair Value, Measurements, Recurring [Member] | Weighted Average Daily Balance [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 0.00% | 0.00% |
Impaired Loans Carried At Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Disclosure, Nonrecurring | $ 26,605 | $ 28,253 |
Valuation Technique | Third-party appraisals and discounted cash flows | Third-party appraisals and discounted cash flows |
Fair Value Measurements Unobservable Inputs | Collateral discounts and discount rates | Collateral discounts and discount rates |
Impaired Loans Carried At Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 100.00% | 100.00% |
Impaired Loans Carried At Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 11.00% | 15.00% |
Impaired Loans Carried At Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average Daily Balance [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 29.00% | 28.00% |
Other real estate owned [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Disclosure, Nonrecurring | $ 453 | $ 1,172 |
Other real estate owned [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Disclosure, Nonrecurring | 453 | 1,172 |
Other real estate owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Disclosure, Nonrecurring | $ 453 | $ 1,172 |
Valuation Technique | Third-party appraisals, sales contracts, broker price opinions | Third-party appraisals, sales contracts, broker price opinions |
Fair Value Measurements Unobservable Inputs | Collateral discounts and estimated costs to sell | Collateral discounts and estimated costs to sell |
Other real estate owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 45.00% | 74.00% |
Other real estate owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 15.00% | 15.00% |
Other real estate owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average Daily Balance [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 17.00% | 22.00% |
Purchased other real estate owned [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Disclosure, Nonrecurring | $ 11,330 | $ 12,540 |
Purchased other real estate owned [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Disclosure, Nonrecurring | 11,330 | 12,540 |
Purchased other real estate owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Disclosure, Nonrecurring | $ 11,330 | $ 12,540 |
Valuation Technique | Third-party appraisals | Third-party appraisals |
Fair Value Measurements Unobservable Inputs | Collateral discounts and estimated costs to sell | Collateral discounts and estimated costs to sell |
Purchased other real estate owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 74.00% | 74.00% |
Purchased other real estate owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 10.00% | 10.00% |
Purchased other real estate owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average Daily Balance [Member] | Level 3 [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 14.00% | 15.00% |
FAIR VALUE MEASURES (Details 5)
FAIR VALUE MEASURES (Details 5) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Financial assets: | |||
Cash and due from banks | $ 139,500 | $ 127,164 | |
Federal funds sold and interest-bearing accounts | 137,811 | 71,221 | |
Loans, net | 5,619,135 | 5,212,153 | |
Accrued interest receivable | 22,006 | 22,278 | |
Financial liabilities: | |||
Deposits | 5,793,397 | 5,575,163 | |
Securities sold under agreements to repurchase | 18,400 | 53,505 | |
Other borrowings | 679,591 | 492,321 | |
Subordinated deferrable interest debentures | 84,889 | 84,228 | |
FDIC loss-share payable | 7,992 | 6,313 | $ 1,897 |
Accrued interest payable | 3,167 | 1,501 | |
Fair Value [Member] | |||
Financial assets: | |||
Cash and due from banks | 139,500 | 127,164 | |
Federal funds sold and interest-bearing accounts | 137,811 | 71,221 | |
Loans, net | 5,609,246 | 5,236,034 | |
Accrued interest receivable | 22,006 | 22,278 | |
Financial liabilities: | |||
Deposits | 5,793,319 | 5,575,288 | |
Securities sold under agreements to repurchase | 18,400 | 53,505 | |
Other borrowings | 680,861 | 492,321 | |
Subordinated deferrable interest debentures | 69,471 | 67,321 | |
FDIC loss-share payable | 9,014 | 8,243 | |
Accrued interest payable | 3,167 | 1,501 | |
Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Financial assets: | |||
Cash and due from banks | 139,500 | 127,164 | |
Federal funds sold and interest-bearing accounts | 137,811 | 71,221 | |
Loans, net | 0 | 0 | |
Accrued interest receivable | 22,006 | 22,278 | |
Financial liabilities: | |||
Deposits | 0 | 0 | |
Securities sold under agreements to repurchase | 18,400 | 53,505 | |
Other borrowings | 0 | 0 | |
Subordinated deferrable interest debentures | 0 | 0 | |
FDIC loss-share payable | 0 | 0 | |
Accrued interest payable | 3,167 | 1,501 | |
Fair Value [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Financial assets: | |||
Cash and due from banks | 0 | 0 | |
Federal funds sold and interest-bearing accounts | 0 | 0 | |
Loans, net | 0 | 0 | |
Accrued interest receivable | 0 | 0 | |
Financial liabilities: | |||
Deposits | 5,793,319 | 5,575,288 | |
Securities sold under agreements to repurchase | 0 | 0 | |
Other borrowings | 680,861 | 492,321 | |
Subordinated deferrable interest debentures | 69,471 | 67,321 | |
FDIC loss-share payable | 0 | 0 | |
Accrued interest payable | 0 | 0 | |
Fair Value [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Financial assets: | |||
Cash and due from banks | 0 | 0 | |
Federal funds sold and interest-bearing accounts | 0 | 0 | |
Loans, net | 5,609,246 | 5,236,034 | |
Accrued interest receivable | 0 | 0 | |
Financial liabilities: | |||
Deposits | 0 | 0 | |
Securities sold under agreements to repurchase | 0 | 0 | |
Other borrowings | 0 | 0 | |
Subordinated deferrable interest debentures | 0 | 0 | |
FDIC loss-share payable | 9,014 | 8,243 | |
Accrued interest payable | $ 0 | $ 0 |
FAIR VALUE MEASURES (Details Te
FAIR VALUE MEASURES (Details Textual) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Net Gains (Losses) From Change In Fair Value Of Mortgages Loans Held For Sale | $ 4.2 | $ 3.9 |
SEGMENT REPORTING (Details)
SEGMENT REPORTING (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||||
Interest income | $ 71,411 | $ 59,340 | $ 138,461 | $ 113,899 | |
Interest expense | 8,254 | 4,751 | 14,714 | 8,874 | |
Net interest income | 63,157 | 54,589 | 123,747 | 105,025 | |
Provision for loan losses | 2,205 | 889 | 4,041 | 1,570 | $ 4,091 |
Noninterest income | 28,189 | 28,379 | 53,895 | 52,665 | |
Noninterest expense | |||||
Salaries and employee benefits | 29,132 | 27,531 | 56,926 | 53,718 | |
Equipment and occupancy expenses | 6,146 | 6,371 | 12,023 | 12,071 | |
Data processing and telecommunications expenses | 7,028 | 6,049 | 13,600 | 12,162 | |
Other expenses | 13,433 | 12,408 | 26,283 | 30,008 | |
Total noninterest expense | 55,739 | 52,359 | 108,832 | 107,959 | |
Income before income tax expense | 33,402 | 29,720 | 64,769 | 48,161 | |
Income tax expense | 10,315 | 9,671 | 20,529 | 15,795 | |
Net income | 23,087 | 20,049 | 44,240 | 32,366 | |
Total assets | 7,397,858 | 6,221,294 | 7,397,858 | 6,221,294 | 6,892,031 |
Goodwill | 125,532 | 121,422 | 125,532 | 121,422 | 125,532 |
Other intangible assets, net | 15,378 | 20,574 | 15,378 | 20,574 | $ 17,428 |
Banking Division [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 56,694 | 53,534 | 110,906 | 103,313 | |
Interest expense | 4,894 | 3,714 | 8,980 | 7,010 | |
Net interest income | 51,800 | 49,820 | 101,926 | 96,303 | |
Provision for loan losses | 1,491 | 733 | 3,473 | 1,414 | |
Noninterest income | 12,954 | 13,018 | 25,967 | 25,753 | |
Noninterest expense | |||||
Salaries and employee benefits | 19,359 | 18,428 | 38,203 | 37,417 | |
Equipment and occupancy expenses | 5,427 | 5,901 | 10,684 | 11,051 | |
Data processing and telecommunications expenses | 6,378 | 5,685 | 12,421 | 11,505 | |
Other expenses | 10,209 | 11,071 | 19,450 | 27,507 | |
Total noninterest expense | 41,373 | 41,085 | 80,758 | 87,480 | |
Income before income tax expense | 21,890 | 21,020 | 43,662 | 33,162 | |
Income tax expense | 6,095 | 6,626 | 12,951 | 10,545 | |
Net income | 15,795 | 14,394 | 30,711 | 22,617 | |
Total assets | 6,186,980 | 5,691,976 | 6,186,980 | 5,691,976 | |
Goodwill | 125,532 | 121,422 | 125,532 | 121,422 | |
Other intangible assets, net | 15,378 | 20,574 | 15,378 | 20,574 | |
Retail Mortgage Division [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 4,974 | 3,293 | 9,028 | 6,313 | |
Interest expense | 1,504 | 739 | 2,582 | 1,329 | |
Net interest income | 3,470 | 2,554 | 6,446 | 4,984 | |
Provision for loan losses | 347 | 93 | 355 | 93 | |
Noninterest income | 13,053 | 13,304 | 23,566 | 22,928 | |
Noninterest expense | |||||
Salaries and employee benefits | 7,763 | 8,304 | 14,979 | 14,651 | |
Equipment and occupancy expenses | 610 | 405 | 1,129 | 893 | |
Data processing and telecommunications expenses | 440 | 338 | 757 | 610 | |
Other expenses | 888 | 1,133 | 2,029 | 2,089 | |
Total noninterest expense | 9,701 | 10,180 | 18,894 | 18,243 | |
Income before income tax expense | 6,475 | 5,585 | 10,763 | 9,576 | |
Income tax expense | 2,361 | 1,955 | 3,862 | 3,352 | |
Net income | 4,114 | 3,630 | 6,901 | 6,224 | |
Total assets | 475,599 | 306,932 | 475,599 | 306,932 | |
Goodwill | 0 | 0 | 0 | 0 | |
Other intangible assets, net | 0 | 0 | 0 | 0 | |
Warehouse Lending Division [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 1,613 | 1,622 | 2,946 | 2,641 | |
Interest expense | 359 | 141 | 587 | 233 | |
Net interest income | 1,254 | 1,481 | 2,359 | 2,408 | |
Provision for loan losses | 176 | 0 | (56) | 0 | |
Noninterest income | 438 | 440 | 757 | 773 | |
Noninterest expense | |||||
Salaries and employee benefits | 127 | 108 | 274 | 296 | |
Equipment and occupancy expenses | 1 | 1 | 2 | 2 | |
Data processing and telecommunications expenses | 25 | 25 | 52 | 45 | |
Other expenses | 54 | 26 | 86 | 51 | |
Total noninterest expense | 207 | 160 | 414 | 394 | |
Income before income tax expense | 1,309 | 1,761 | 2,758 | 2,787 | |
Income tax expense | 472 | 616 | 979 | 975 | |
Net income | 837 | 1,145 | 1,779 | 1,812 | |
Total assets | 174,149 | 150,823 | 174,149 | 150,823 | |
Goodwill | 0 | 0 | 0 | 0 | |
Other intangible assets, net | 0 | 0 | 0 | 0 | |
SBA Division [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 1,258 | 891 | 2,471 | 1,632 | |
Interest expense | 373 | 157 | 679 | 302 | |
Net interest income | 885 | 734 | 1,792 | 1,330 | |
Provision for loan losses | 51 | 63 | 99 | 63 | |
Noninterest income | 1,718 | 1,617 | 3,533 | 3,211 | |
Noninterest expense | |||||
Salaries and employee benefits | 890 | 691 | 1,481 | 1,354 | |
Equipment and occupancy expenses | 54 | 64 | 105 | 125 | |
Data processing and telecommunications expenses | 2 | 1 | 3 | 2 | |
Other expenses | 259 | 178 | 470 | 361 | |
Total noninterest expense | 1,205 | 934 | 2,059 | 1,842 | |
Income before income tax expense | 1,347 | 1,354 | 3,167 | 2,636 | |
Income tax expense | 472 | 474 | 1,109 | 923 | |
Net income | 875 | 880 | 2,058 | 1,713 | |
Total assets | 80,909 | 71,563 | 80,909 | 71,563 | |
Goodwill | 0 | 0 | 0 | 0 | |
Other intangible assets, net | 0 | 0 | 0 | 0 | |
Premium Finance Division [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest income | 6,872 | 0 | 13,110 | 0 | |
Interest expense | 1,124 | 0 | 1,886 | 0 | |
Net interest income | 5,748 | 0 | 11,224 | 0 | |
Provision for loan losses | 140 | 0 | 170 | 0 | |
Noninterest income | 26 | 0 | 72 | 0 | |
Noninterest expense | |||||
Salaries and employee benefits | 993 | 0 | 1,989 | 0 | |
Equipment and occupancy expenses | 54 | 0 | 103 | 0 | |
Data processing and telecommunications expenses | 183 | 0 | 367 | 0 | |
Other expenses | 2,023 | 0 | 4,248 | 0 | |
Total noninterest expense | 3,253 | 0 | 6,707 | 0 | |
Income before income tax expense | 2,381 | 0 | 4,419 | 0 | |
Income tax expense | 915 | 0 | 1,628 | 0 | |
Net income | 1,466 | 0 | 2,791 | 0 | |
Total assets | 480,221 | 0 | 480,221 | 0 | |
Goodwill | 0 | 0 | 0 | 0 | |
Other intangible assets, net | $ 0 | $ 0 | $ 0 | $ 0 |
SEGMENT REPORTING (Details Text
SEGMENT REPORTING (Details Textual) | 6 Months Ended |
Jun. 30, 2017 | |
Reportable Segments | 5 |