Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'Ameris Bancorp | ' |
Entity Central Index Key | '0000351569 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 23,905,509 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Assets | ' | ' | ' |
Cash and due from banks | $53,516 | $80,256 | $57,289 |
Federal funds sold and interest-bearing accounts | 73,899 | 193,677 | 66,872 |
Investment securities available for sale, at fair value | 312,248 | 346,909 | 361,051 |
Other investments | 7,764 | 6,832 | 7,003 |
Mortgage loans held for sale | 69,634 | 48,786 | 29,021 |
Loans | 1,589,267 | 1,450,635 | 1,439,862 |
Covered loans | 417,649 | 507,712 | 546,234 |
Less: allowance for loan losses | 23,854 | 23,593 | 25,901 |
Loans, net | 1,983,062 | 1,934,754 | 1,960,195 |
Other real estate owned | 37,978 | 39,850 | 37,325 |
Covered other real estate owned | 52,552 | 88,273 | 88,895 |
Total other real estate owned | 90,530 | 128,123 | 126,220 |
FDIC loss-share receivable | 81,763 | 159,724 | 198,440 |
Premises and equipment, net | 65,661 | 75,983 | 75,609 |
Intangible assets, net | 1,972 | 3,040 | 3,404 |
Goodwill | 956 | 956 | 956 |
Cash value of bank owned life insurance | 49,095 | 15,603 | 50,087 |
Other assets | 28,402 | 24,409 | 13,236 |
Total assets | 2,818,502 | 3,019,052 | 2,949,383 |
Liabilities and Stockholders' Equity Liabilities | ' | ' | ' |
Noninterest-bearing | 475,505 | 510,751 | 464,503 |
Interest-bearing | 1,967,916 | 2,113,912 | 2,115,614 |
Total deposits | 2,443,421 | 2,624,663 | 2,580,117 |
Securities sold under agreements to repurchase | 20,255 | 50,120 | 17,404 |
Other borrowings | 5,000 | 0 | 0 |
Other liabilities | 17,201 | 22,983 | 10,387 |
Subordinated deferrable interest debentures | 42,269 | 42,269 | 42,269 |
Total liabilities | 2,528,146 | 2,740,035 | 2,650,177 |
Commitments and contingencies | ' | ' | ' |
Stockholders' Equity | ' | ' | ' |
Preferred stock, stated value $1,000; 5,000,000 shares authorized; 28,000, 28,000 and 52,000 shares issued and outstanding | 27,938 | 27,662 | 51,207 |
Common stock, par value $1; 100,000,000 shares authorized; 25,270,851, 25,154,818 and 25,155,318 issued | 25,271 | 25,155 | 25,155 |
Capital surplus | 165,835 | 164,949 | 164,182 |
Retained earnings | 83,025 | 65,710 | 62,156 |
Accumulated other comprehensive income (loss) | -531 | 6,607 | 7,337 |
Treasury stock, at cost, 1,363,342, 1,355,050 and 1,336,174 shares | -11,182 | -11,066 | -10,831 |
Total stockholders' equity | 290,356 | 279,017 | 299,206 |
Total liabilities and stockholders' equity | $2,818,502 | $3,019,052 | $2,949,383 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
Statement Of Financial Position [Abstract] | ' | ' | ' |
Preferred stock, stated value | $1,000 | $1,000 | $1,000 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 28,000 | 28,000 | 52,000 |
Preferred stock, shares outstanding | 28,000 | 28,000 | 52,000 |
Common stock, par value | $1 | $1 | $1 |
Common stock, shares authorized | 100,000,000 | 100,000,000 | 100,000,000 |
Common stock, shares issued | 25,270,851 | 25,154,818 | 25,155,318 |
Treasury stock, shares | 1,363,342 | 1,355,050 | 1,336,174 |
Consolidated_Statements_of_Ear
Consolidated Statements of Earnings and Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest income | ' | ' | ' | ' |
Interest and fees on loans | $29,633 | $29,165 | $88,208 | $88,981 |
Interest on taxable securities | 1,720 | 2,017 | 5,136 | 6,513 |
Interest on nontaxable securities | 352 | 365 | 1,071 | 1,104 |
Interest on deposits in other banks and federal funds sold | 44 | 104 | 158 | 342 |
Total interest income | 31,749 | 31,651 | 94,573 | 96,940 |
Interest expense | ' | ' | ' | ' |
Interest on deposits | 2,025 | 3,005 | 6,334 | 10,724 |
Interest on other borrowings | 404 | 408 | 1,105 | 1,370 |
Total interest expense | 2,429 | 3,413 | 7,439 | 12,094 |
Net interest income | 29,320 | 28,238 | 87,134 | 84,846 |
Provision for loan losses | 2,920 | 6,540 | 10,008 | 26,647 |
Net interest income after provision for loan losses | 26,400 | 21,698 | 77,126 | 58,199 |
Noninterest income | ' | ' | ' | ' |
Service charges on deposit accounts | 4,948 | 5,121 | 14,480 | 14,277 |
Mortgage banking activity | 5,232 | 3,740 | 14,697 | 8,221 |
Other service charges, commissions and fees | 593 | 331 | 1,539 | 1,044 |
Gain on acquisitions | ' | ' | ' | 20,037 |
Gain (loss) on sale of securities | ' | ' | 171 | ' |
Other noninterest income | 1,515 | 639 | 4,145 | 2,391 |
Total noninterest income | 12,288 | 9,831 | 35,032 | 45,970 |
Noninterest expense | ' | ' | ' | ' |
Salaries and employee benefits | 14,412 | 13,766 | 41,599 | 37,337 |
Equipment and occupancy expenses | 3,149 | 3,340 | 9,058 | 9,555 |
Amortization of intangible assets | 346 | 364 | 1,068 | 996 |
Data processing and telecommunications expenses | 3,072 | 2,599 | 8,478 | 7,429 |
Advertising and marketing expenses | 434 | 421 | 1,016 | 1,134 |
Other noninterest expenses | 7,336 | 8,320 | 23,102 | 33,228 |
Total noninterest expense | 28,749 | 28,810 | 84,321 | 89,679 |
Income before income tax expense | 9,939 | 2,719 | 27,837 | 14,490 |
Applicable income tax expense | 3,262 | 816 | 9,197 | 4,727 |
Net income | 6,677 | 1,903 | 18,640 | 9,763 |
Less preferred stock dividends | 443 | 827 | 1,326 | 2,459 |
Net income available to common shareholders | 6,234 | 1,076 | 17,314 | 7,304 |
Other comprehensive income (loss) | ' | ' | ' | ' |
Unrealized holding gain (loss) arising during period on investment securities available for sale, net of tax | -4,007 | -228 | -8,125 | 1,017 |
Reclassification adjustment for losses (gains) included in earnings, net of tax | ' | ' | -111 | ' |
Unrealized gain (loss) on cash flow hedges arising during period, net of tax | -106 | -240 | 1,098 | -976 |
Other comprehensive income (loss) | -4,113 | -468 | -7,138 | 41 |
Total comprehensive income | $2,121 | $608 | $10,176 | $7,345 |
Basic earnings per share | $0.26 | $0.05 | $0.72 | $0.31 |
Diluted earnings per share | $0.26 | $0.04 | $0.71 | $0.30 |
Weighted average common shares outstanding | ' | ' | ' | ' |
Basic | 23,901 | 23,819 | 23,883 | 23,800 |
Diluted | 24,316 | 23,973 | 24,298 | 23,954 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income, Net of Tax [Member] | Treasury Stock [Member] |
In Thousands, except Share data | |||||||
Balance at beginning of period at Dec. 31, 2011 | ' | $50,727 | $25,087 | $166,639 | $54,852 | $7,296 | ($10,831) |
Balance at beginning of period, Shares at Dec. 31, 2011 | ' | 52,000 | 25,087,468 | ' | ' | ' | ' |
Repurchase of warrants | ' | ' | ' | -2,670 | ' | ' | ' |
Net income | 9,763 | ' | ' | ' | 9,763 | ' | ' |
Other comprehensive income (loss) | 41 | ' | ' | ' | ' | 41 | ' |
Issuance of restricted shares | ' | ' | 67 | -67 | ' | ' | ' |
Stock-based compensation | ' | ' | ' | 278 | ' | ' | ' |
Dividends on preferred shares | ' | ' | ' | ' | -1,979 | ' | ' |
Issuance of restricted shares, Shares | ' | ' | 67,450 | ' | ' | ' | ' |
Accretion of fair value of warrant | ' | 480 | ' | ' | -480 | ' | ' |
Accretion of fair value of warrant, Shares | ' | ' | ' | ' | ' | ' | ' |
Proceeds from exercise of stock options | ' | ' | 1 | 2 | ' | ' | ' |
Proceeds from exercise of stock options, Shares | ' | ' | 400 | ' | ' | ' | ' |
Balance at end of period at Sep. 30, 2012 | 299,206 | 51,207 | 25,155 | 164,182 | 62,156 | 7,337 | -10,831 |
Balance at end of period, Shares at Sep. 30, 2012 | ' | 52,000 | 25,155,318 | ' | ' | ' | ' |
Balance at beginning of period at Dec. 31, 2012 | 279,017 | 27,662 | 25,155 | 164,949 | 65,710 | 6,607 | -11,066 |
Balance at beginning of period, Shares at Dec. 31, 2012 | ' | 28,000 | 25,154,818 | ' | ' | ' | ' |
Net income | 18,640 | ' | ' | ' | 18,640 | ' | ' |
Other comprehensive income (loss) | -7,138 | ' | ' | ' | ' | -7,138 | ' |
Purchase of treasury shares | ' | ' | ' | ' | ' | ' | -116 |
Issuance of restricted shares | ' | ' | 83 | -83 | ' | ' | ' |
Stock-based compensation | ' | ' | ' | 592 | ' | ' | ' |
Dividends on preferred shares | ' | ' | ' | ' | -275 | ' | ' |
Issuance of restricted shares, Shares | ' | ' | 83,400 | ' | ' | ' | ' |
Cancellation of restricted shares | ' | ' | -1 | 1 | ' | ' | ' |
Accretion of fair value of warrant | ' | 276 | ' | ' | -1,050 | ' | ' |
Cancellation of restricted shares, Shares | ' | ' | -1,000 | ' | ' | ' | ' |
Accretion of fair value of warrant, Shares | ' | ' | ' | ' | ' | ' | ' |
Proceeds from exercise of stock options | ' | ' | 34 | 376 | ' | ' | ' |
Proceeds from exercise of stock options, Shares | ' | ' | 33,633 | ' | ' | ' | ' |
Balance at end of period at Sep. 30, 2013 | $290,356 | $27,938 | $25,271 | $165,835 | $83,025 | ($531) | ($11,182) |
Balance at end of period, Shares at Sep. 30, 2013 | ' | 28,000 | 25,270,851 | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $18,640 | $9,763 |
Adjustments reconciling net income to net cash provided by operating activities: | ' | ' |
Depreciation | 3,683 | 3,585 |
Net (gains) losses on sale or disposal of premises and equipment | -61 | 163 |
Net losses or write-downs on sale of other real estate owned | 5,646 | 9,048 |
Provision for loan losses | 10,008 | 26,647 |
Gain on acquisitions | ' | -20,037 |
Amortization of intangible assets | 1,068 | 996 |
Net change in mortgage loans held for sale | -20,848 | -17,458 |
Net gains on securities available for sale | -171 | ' |
Change in other prepaids, deferrals and accruals, net | 15,537 | 16,236 |
Net cash provided by operating activities | 33,502 | 28,943 |
Cash flows from investing activities, net of effect of business combinations: | ' | ' |
Net decrease in federal funds sold and interest-bearing deposits | 119,778 | 162,170 |
Proceeds from maturities of securities available for sale | 46,005 | 82,623 |
Purchase of securities available for sale | -61,445 | -89,787 |
Proceeds from sales of securities available for sale | 36,669 | 27,563 |
Purchase of bank owned life insurance | -30,000 | -50,000 |
Net (increase) decrease in loans | -95,370 | -53,660 |
Proceeds from sales of other real estate owned | 55,270 | 57,443 |
Proceeds from sales of premises and equipment | 1,889 | 409 |
Purchases of premises and equipment | -4,136 | -6,642 |
Decrease in FDIC loss-share receivable | 77,961 | 96,608 |
Net cash proceeds received from FDIC-assisted acquisitions | ' | 220,516 |
Net cash provided by investing activities | 146,621 | 447,243 |
Cash flows from financing activities, net of effect of business combinations: | ' | ' |
Net decrease in deposits | -181,242 | -429,185 |
Net decrease in securities sold under agreements to repurchase | -29,865 | -20,261 |
Proceeds from other borrowings | 5,000 | ' |
Decrease in other borrowings | ' | -30,334 |
Dividends paid - preferred stock | -1,050 | -1,979 |
Repurchase of warrants | ' | -2,670 |
Purchase of treasury shares | -116 | ' |
Proceeds from exercise of stock options | 410 | 4 |
Net cash used in financing activities | -206,863 | -484,425 |
Net change in cash and due from banks | -26,740 | -8,239 |
Cash and due from banks at beginning of period | 80,256 | 65,528 |
Cash and due from banks at end of period | 53,516 | 57,289 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ' | ' |
Interest | 7,840 | 13,699 |
Income taxes | 11,304 | 52 |
Loans transferred to other real estate owned | $37,054 | $61,237 |
Basis_of_Presentation_and_Acco
Basis of Presentation and Accounting Policies | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
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 September 30, 2013, the Bank operated 57 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 the Company’s established guidelines and policies, the banker closest to the customer responds to the differing needs and demands of their 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 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 September 30, 2013 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, 2012. | |||||||||||||||||||||
Newly Adopted Accounting Pronouncements | |||||||||||||||||||||
ASU 2013-11 – Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). ASU 2013-11 requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward. However, if a net operating loss carryforward, a similar tax loss or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments are not expected to have a material impact on the Company’s results of operations, financial position or disclosures. | |||||||||||||||||||||
ASU 2013-02 – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”). ASU 2013-02 requires an entity to provide information about the amounts reclassified from accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under United States generally accepted accounting principles to be reclassified to net income in its entirety in the same reporting period. For all other amounts, an entity is required to cross-reference to other disclosures that provide additional details about these amounts. The amendments are effective prospectively for reporting periods beginning after December 15, 2012. It did not have a material effect on the Company’s results of operations, financial position or disclosures. | |||||||||||||||||||||
ASU 2012-06 – Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution (“ASU 2012-06”). When an entity recognizes an indemnification asset and subsequently a change in the cash flows expected to be collected on the indemnification asset occurs as a result of a change in the cash flows expected to be collected on the indemnified asset, ASU 2012-06 requires the entity to recognize the change in the measurement of the indemnification asset on the same basis as the indemnified assets. Any amortization of changes in value of the indemnification asset should be limited to the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets. ASU 2012-06 is effective for fiscal years beginning on or after December 15, 2012, and early adoption is permitted. It is to be applied prospectively to any new indemnification assets acquired after the date of adoption and to indemnification assets existing as of the date of adoption arising from a government-assisted acquisition of a financial institution. ASU 2012-06 did not have a material effect on the Company’s results of operations, financial position or disclosures. | |||||||||||||||||||||
ASU 2011-04 – Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (“ASU 2011-04”). ASU 2011-04 generally represents clarifications of Topic 820, but also includes some instances where a particular principle or requirement for measuring fair value or disclosing information about fair value measurements has changed. ASU 2011-04 results in common principles and requirements for measuring fair value and for disclosing information about fair value measurements. ASU 2011-04 was to be applied prospectively and is effective during interim and annual periods beginning after December 15, 2011 for public companies. It did not have a material impact on the Company’s results of operations, financial position or disclosures. | |||||||||||||||||||||
ASU 2011-05 – Amendments to Topic 220, Comprehensive Income (“ASU 2011-05”). ASU 2011-05 grants an entity the option to present the total of comprehensive income, the components of net income and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In both choices, an entity is required to present each component of net income along with total net income, each component of other comprehensive income along with a total for other comprehensive income and a total amount for comprehensive income. ASU 2011-05 eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. ASU 2011-05 does not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income. For public entities, ASU 2011-05 was effective for fiscal years, and interim periods within those years, beginning after December 15, 2011, and was to be adopted retrospectively. It did not have a material impact on the Company’s results of operations, financial position or disclosures. | |||||||||||||||||||||
ASU 2011-08 – Intangibles – Goodwill and Other (Topic 350) Testing Goodwill for Impairment (“ASU 2011-08”). ASU 2011-08 grants an entity the option to assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. This conclusion can be used as a basis for determining whether it is necessary to perform the two-step goodwill impairment test required in Topic 350. ASU 2011-08 was effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. It did not have a material impact on the Company’s results of operations, financial position or disclosures. | |||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||
The fair value of a financial instrument 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 financial instruments. 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 instrument. The accounting standard for disclosures about the fair value of financial instruments 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. | |||||||||||||||||||||
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 statement of 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 with borrowers. The mark to market adjustments related to loans held-for-sale and the associated economic hedges are captured in mortgage banking activities. | |||||||||||||||||||||
The fair value hierarchy describes three levels of inputs that may be used to measure fair value: | |||||||||||||||||||||
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 financial instruments and other accounts recorded based on their fair value: | |||||||||||||||||||||
Cash and Due From Banks, Federal Funds Sold and Interest-Bearing Accounts: The carrying amount of cash and due from banks, federal funds sold and interest-bearing accounts 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 mortgage-backed securities issued by government sponsored enterprises and municipal bonds. 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: Federal Home Loan Bank (“FHLB”) stock is included in other investments at its original cost basis, as cost approximates fair value and there is no ready market for such investments. | |||||||||||||||||||||
Mortgage Loans Held for Sale: The fair value of mortgage 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 expected future 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 loan will not be collected as scheduled. The fair value of impaired loans is determined in accordance with accounting standards and generally results in a specific reserve established through a charge to the provision for loan losses. Losses on impaired loans are charged to the allowance when management believes the uncollectability of a loan is confirmed. Management has determined that the majority of impaired loans are Level 3 assets due to the extensive use of market appraisals. To the extent that market appraisals or other methods do not produce reliable determinations of fair value, these assets are deemed to be Level 3. | |||||||||||||||||||||
Other Real Estate Owned: The fair value of other real estate owned (“OREO”) is determined using certified appraisals 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. | |||||||||||||||||||||
Covered Assets: Covered assets include loans and other real estate owned on which the majority of losses would be covered by loss-sharing agreements with the Federal Deposit Insurance Corporation (the “FDIC”). Management initially valued these assets at fair value using mostly unobservable inputs and, as such, has classified these assets as Level 3. | |||||||||||||||||||||
Intangible Assets and Goodwill: 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 three to ten years. Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired in a business combination. Goodwill and other intangible assets deemed to have an indefinite useful life are not amortized but instead are subject to an annual review for impairment. | |||||||||||||||||||||
FDIC Loss-Share Receivable: 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 is impacted by changes in estimated cash flows associated with these loans. | |||||||||||||||||||||
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 offered for certificates with 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. 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. | |||||||||||||||||||||
Subordinated Deferrable Interest Debentures: The carrying amount of the Company’s variable rate trust preferred securities approximates fair value. | |||||||||||||||||||||
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 are 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 September 30, 2013, December 31, 2012 and September 30, 2012, 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. | |||||||||||||||||||||
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 | |||||||||||||||||||||
September 30, 2013 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Loans, net | $ | 1,983,062 | $ | — | $ | 1,561,480 | $ | 461,213 | $ | 2,022,693 | |||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 2,443,421 | — | 2,444,244 | — | 2,444,244 | ||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||
December 31, 2012 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Loans, net | $ | 1,934,754 | $ | — | $ | 1,406,366 | $ | 560,226 | $ | 1,966,592 | |||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 2,624,663 | — | 2,624,883 | — | 2,624,883 | ||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||
September 30, 2012 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Loans, net | $ | 1,960,195 | $ | — | $ | 1,393,115 | $ | 596,671 | $ | 1,989,786 | |||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 2,580,117 | — | 2,581,465 | — | 2,581,465 | ||||||||||||||||
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 September 30, 2013, December 31, 2012 and September 30, 2012 (dollars in thousands): | |||||||||||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||
Fair Value | Quoted Prices | Significant | Significant | ||||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
U.S. government agencies | $ | 13,917 | $ | — | $ | 13,917 | $ | — | |||||||||||||
State, county and municipal securities | 112,939 | 4,460 | 108,479 | — | |||||||||||||||||
Corporate debt securities | 9,738 | — | 7,738 | 2,000 | |||||||||||||||||
Mortgage-backed securities | 175,654 | 9,375 | 166,279 | — | |||||||||||||||||
Mortgage loans held for sale | 69,634 | — | 69,634 | — | |||||||||||||||||
Total recurring assets at fair value | $ | 381,882 | $ | 13,835 | $ | 366,047 | $ | 2,000 | |||||||||||||
Derivative financial instruments | $ | 972 | $ | — | $ | 972 | $ | — | |||||||||||||
Total recurring liabilities at fair value | $ | 972 | $ | — | $ | 972 | $ | — | |||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||
Fair Value | Quoted Prices | Significant | Significant | ||||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
U.S. government agencies | $ | 6,870 | $ | — | $ | 6,870 | $ | — | |||||||||||||
State, county and municipal securities | 114,390 | 4,854 | 109,536 | — | |||||||||||||||||
Corporate debt securities | 10,328 | — | 8,328 | 2,000 | |||||||||||||||||
Mortgage-backed securities | 215,321 | 23,893 | 191,428 | — | |||||||||||||||||
Mortgage loans held for sale | 48,786 | — | 48,786 | — | |||||||||||||||||
Total recurring assets at fair value | $ | 395,695 | $ | 28,747 | $ | 364,948 | $ | 2,000 | |||||||||||||
Derivative financial instruments | $ | 2,978 | $ | — | $ | 2,978 | $ | — | |||||||||||||
Total recurring liabilities at fair value | $ | 2,978 | $ | — | $ | 2,978 | $ | — | |||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
As of September 30, 2012 | |||||||||||||||||||||
Fair Value | Quoted Prices | Significant | Significant | ||||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
U.S. government agencies | $ | 8,895 | $ | — | $ | 8,895 | $ | — | |||||||||||||
State, county and municipal securities | 111,742 | 6,932 | 104,810 | — | |||||||||||||||||
Corporate debt securities | 11,495 | — | 9,495 | 2,000 | |||||||||||||||||
Mortgage-backed securities | 228,919 | 1,965 | 226,954 | — | |||||||||||||||||
Mortgage loans held for sale | 29,021 | — | 29,021 | — | |||||||||||||||||
Total recurring assets at fair value | $ | 390,072 | $ | 8,897 | $ | 379,175 | $ | 2,000 | |||||||||||||
Derivative financial instruments | $ | 3,233 | $ | — | $ | 3,233 | $ | — | |||||||||||||
Total recurring liabilities at fair value | $ | 3,233 | $ | — | $ | 3,233 | $ | — | |||||||||||||
The following table is a presentation of the valuation methodologies used for instruments measured at fair value on a nonrecurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy as of September 30, 2013, December 31, 2012 and September 30, 2012 (dollars in thousands): | |||||||||||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Impaired loans carried at fair value | $ | 43,564 | $ | — | $ | — | $ | 43,564 | |||||||||||||
Other real estate owned | 37,978 | — | — | 37,978 | |||||||||||||||||
Covered loans | 417,649 | — | — | 417,649 | |||||||||||||||||
Covered other real estate owned | 52,552 | — | — | 52,552 | |||||||||||||||||
Total non-recurring assets at fair value | $ | 551,743 | $ | — | $ | — | $ | 551,743 | |||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Impaired loans carried at fair value | $ | 52,514 | $ | — | $ | — | $ | 52,514 | |||||||||||||
Other real estate owned | 39,850 | — | — | 39,850 | |||||||||||||||||
Covered loans | 507,712 | — | — | 507,712 | |||||||||||||||||
Covered other real estate owned | 88,273 | — | — | 88,273 | |||||||||||||||||
Total nonrecurring assets at fair value | $ | 688,349 | $ | — | $ | — | $ | 688,349 | |||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
As of September 30, 2012 | |||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Impaired loans carried at fair value | $ | 50,437 | $ | — | $ | — | $ | 50,437 | |||||||||||||
Other real estate owned | 37,325 | — | — | 37,325 | |||||||||||||||||
Covered loans | 546,234 | — | — | 546,234 | |||||||||||||||||
Covered other real estate owned | 88,895 | — | — | 88,895 | |||||||||||||||||
Total nonrecurring assets at fair value | $ | 722,891 | $ | — | $ | — | $ | 722,891 | |||||||||||||
The inputs used to determine estimated fair value of impaired loans and covered loans include market conditions, loan term, underlying collateral characteristics and discount rates. The inputs used to determine fair value of other real estate owned and covered other real estate owned include market conditions, estimated marketing period or holding period, underlying collateral characteristics and discount rates. | |||||||||||||||||||||
For the nine months ended September 30, 2013 and 2012, there was not a change in the methods and significant assumptions used to estimate fair value. | |||||||||||||||||||||
The following table shows significant unobservable inputs used in the fair value measurement of Level 3 assets and liabilities. | |||||||||||||||||||||
Measurements | Fair Value at | Valuation Technique | Unobservable Inputs | Range | |||||||||||||||||
September 30, 2013 | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Nonrecurring: | |||||||||||||||||||||
Impaired loans | $ | 43,564 | Third party appraisals and | Collateral discounts and | 4.00% - 75.00% | ||||||||||||||||
discounted cash flows | discount rates | ||||||||||||||||||||
Other real estate owned | 37,978 | Third party appraisals | Collateral discounts and | 10.00% - 78.00% | |||||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Covered loans | 417,649 | Third party appraisals and | Collateral discounts | 1.75% - 75.00% | |||||||||||||||||
discounted cash flows | Discount rate | ||||||||||||||||||||
Covered real estate owned | 52,552 | Third party appraisals | Collateral discounts and | 10.00% - 84.00% | |||||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Recurring: | |||||||||||||||||||||
Investment securities available for sale | 2,000 | Discounted par values | Credit quality of | 0.00% | |||||||||||||||||
underlying issuer | |||||||||||||||||||||
The transfers between the fair value hierarchy levels during the nine months ended September 30, 2013 and 2012 involved the transferring of loans to impaired loans, impaired loans to other real estate owned and covered loans to covered other real estate owned. These transfers are reflected in Ameris’ reconciliation of Level 3 assets below. | |||||||||||||||||||||
Investment | Impaired | Other Real | Covered | Covered | |||||||||||||||||
Securities | Loans | Estate | Loans | Other | |||||||||||||||||
Available | Carried at | Owned | Real Estate | ||||||||||||||||||
for | Fair Value | Owned | |||||||||||||||||||
Sale | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Beginning balance, January 1, 2013 | $ | 2,000 | $ | 52,514 | $ | 39,850 | $ | 507,712 | $ | 88,273 | |||||||||||
Total gains/(losses) included in net income | — | — | (2,214 | ) | — | (3,432 | ) | ||||||||||||||
Purchases, sales, issuances, and settlements, net | — | (621 | ) | (7,987 | ) | (61,338 | ) | (61,014 | ) | ||||||||||||
Transfers in to Level 3 | — | — | — | — | — | ||||||||||||||||
Asset reclassification, within Level 3 | — | (8,329 | ) | 8,329 | (28,725 | ) | 28,725 | ||||||||||||||
Ending balance September 30, 2013 | $ | 2,000 | $ | 43,564 | $ | 37,978 | $ | 417,649 | $ | 52,552 | |||||||||||
Investment | Impaired | Other Real | Covered | Covered | |||||||||||||||||
Securities | Loans | Estate | Loans | Other | |||||||||||||||||
Available | Carried at | Owned | Real Estate | ||||||||||||||||||
for | Fair Value | Owned | |||||||||||||||||||
Sale | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Beginning balance, January 1, 2012 | $ | 2,000 | $ | 70,296 | $ | 46,680 | $ | 571,489 | $ | 78,617 | |||||||||||
Total gains/(losses) included in net income | — | — | (9,048 | ) | — | — | |||||||||||||||
Purchases, sales, issuances, and settlements, net | — | — | (21,008 | ) | 15,281 | (30,258 | ) | ||||||||||||||
Transfers in to Level 3 | — | 842 | — | — | — | ||||||||||||||||
Asset reclassification, within Level 3 | — | (20,701 | ) | 20,701 | (40,536 | ) | 40,536 | ||||||||||||||
Ending balance September 30, 2012 | $ | 2,000 | $ | 50,437 | $ | 37,325 | $ | 546,234 | $ | 88,895 | |||||||||||
Pending_Merger_and_Acquisition
Pending Merger and Acquisition | 9 Months Ended |
Sep. 30, 2013 | |
Business Combinations [Abstract] | ' |
Pending Merger and Acquisition | ' |
NOTE 2 – PENDING MERGER AND ACQUISITION | |
On May 1, 2013, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with The Prosperity Banking Company (“Prosperity”), a bank holding company headquartered in Saint Augustine, Florida. Prosperity Bank is a wholly owned bank subsidiary of Prosperity. Prosperity Bank has a total of 12 banking locations, with the majority of the franchise concentrated in northeast Florida. As of June 30, 2013, Prosperity reported assets of $754 million, loans of $485 million and deposits of $493 million. Under the terms of the Merger Agreement, Prosperity will merge with and into Ameris, with Ameris as the surviving entity in the merger. In addition, Prosperity Bank will be merged with and into the Bank, with the Bank as the surviving entity. | |
Pursuant to the terms of the Merger Agreement, Prosperity shareholders will have the option to elect to receive either 3.125 shares of the Company’s common stock or $41.50 in cash for each share of Prosperity common stock they hold, subject to the requirement that no more than 50% of the outstanding shares of Prosperity may receive cash. Assuming 100% stock consideration, the transaction would be valued at approximately $15.7 million, based on the Company’s closing stock price of $13.32 on May 1, 2013 and Prosperity’s common shares outstanding of 377,960 as of that date. | |
Consummation of the merger is subject to customary conditions, including, among others, approval of the Merger Agreement by Prosperity’s shareholders and the receipt of required regulatory approvals. The transaction is expected to close during the fourth quarter of 2013. |
Investment_Securities
Investment Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investment 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 agencies, state, county and municipal securities and corporate debt 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. | |||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities available for sale at September 30, 2013, December 31, 2012 and September 30, 2012 are presented below: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
U. S. government agencies | $ | 14,945 | $ | — | $ | (1,028 | ) | $ | 13,917 | ||||||||||||||||
State, county and municipal securities | 112,643 | 2,331 | (2,035 | ) | 112,939 | ||||||||||||||||||||
Corporate debt securities | 10,314 | 280 | (856 | ) | 9,738 | ||||||||||||||||||||
Mortgage-backed securities | 176,818 | 2,714 | (3,878 | ) | 175,654 | ||||||||||||||||||||
Total securities | $ | 314,720 | $ | 5,325 | $ | (7,797 | ) | $ | 312,248 | ||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
U. S. government agencies | $ | 6,605 | $ | 271 | $ | (6 | ) | $ | 6,870 | ||||||||||||||||
State, county and municipal securities | 109,736 | 4,864 | (210 | ) | 114,390 | ||||||||||||||||||||
Corporate debt securities | 10,545 | 330 | (547 | ) | 10,328 | ||||||||||||||||||||
Mortgage-backed securities | 209,824 | 5,701 | (204 | ) | 215,321 | ||||||||||||||||||||
Total securities | $ | 336,710 | $ | 11,166 | $ | (967 | ) | $ | 346,909 | ||||||||||||||||
September 30, 2012: | |||||||||||||||||||||||||
U. S. government agencies | $ | 8,606 | $ | 289 | $ | — | $ | 8,895 | |||||||||||||||||
State, county and municipal securities | 106,541 | 5,345 | (144 | ) | 111,742 | ||||||||||||||||||||
Corporate debt securities | 11,793 | 262 | (560 | ) | 11,495 | ||||||||||||||||||||
Mortgage-backed securities | 222,641 | 6,562 | (284 | ) | 228,919 | ||||||||||||||||||||
Total securities | $ | 349,581 | $ | 12,458 | $ | (988 | ) | $ | 361,051 | ||||||||||||||||
The amortized cost and fair value of available-for-sale securities at September 30, 2013 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: | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Due in one year or less | $ | 2,214 | $ | 2,229 | |||||||||||||||||||||
Due from one year to five years | 36,699 | 37,826 | |||||||||||||||||||||||
Due from five to ten years | 68,790 | 67,622 | |||||||||||||||||||||||
Due after ten years | 30,199 | 28,917 | |||||||||||||||||||||||
Mortgage-backed securities | 176,818 | 175,654 | |||||||||||||||||||||||
$ | 314,720 | $ | 312,248 | ||||||||||||||||||||||
Securities with a carrying value of approximately $217.3 million serve as collateral to secure public deposits and other purposes required or permitted by law at September 30, 2013. | |||||||||||||||||||||||||
The following table details the gross unrealized losses and fair value of securities aggregated by category and duration of continuous unrealized loss position at September 30, 2013, December 31, 2012 and September 30, 2012. | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Description of Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
U. S. government agencies | $ | 13,917 | $ | (1,028 | ) | $ | — | $ | — | $ | 13,917 | $ | (1,028 | ) | |||||||||||
State, county and municipal securities | 46,516 | (1,735 | ) | 3,807 | (300 | ) | 50,323 | (2,035 | ) | ||||||||||||||||
Corporate debt securities | — | — | 4,235 | (856 | ) | 4,235 | (856 | ) | |||||||||||||||||
Mortgage-backed securities | 90,639 | (3,878 | ) | — | — | 90,639 | (3,878 | ) | |||||||||||||||||
Total temporarily impaired securities | $ | 151,072 | $ | (6,641 | ) | $ | 8,042 | $ | (1,156 | ) | $ | 159,114 | $ | (7,797 | ) | ||||||||||
December 31, 2012: | |||||||||||||||||||||||||
U. S. government agencies | $ | 4,994 | $ | (6 | ) | $ | — | $ | — | $ | 4,994 | $ | (6 | ) | |||||||||||
State, county and municipal securities | 15,595 | (199 | ) | 505 | (11 | ) | 16,100 | (210 | ) | ||||||||||||||||
Corporate debt securities | — | — | 4,560 | (547 | ) | 4,560 | (547 | ) | |||||||||||||||||
Mortgage-backed securities | 23,951 | (181 | ) | 3,617 | (23 | ) | 27,568 | (204 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 44,540 | $ | (386 | ) | $ | 8,682 | $ | (581 | ) | $ | 53,222 | $ | (967 | ) | ||||||||||
September 30, 2012: | |||||||||||||||||||||||||
U. S. government agencies | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
State, county and municipal securities | 14,653 | (132 | ) | 505 | (12 | ) | 15,158 | (144 | ) | ||||||||||||||||
Corporate debt securities | — | — | 5,551 | (560 | ) | 5,551 | (560 | ) | |||||||||||||||||
Mortgage-backed securities | 32,660 | (267 | ) | 3,434 | (17 | ) | 36,094 | (284 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 47,313 | $ | (399 | ) | $ | 9,490 | $ | (589 | ) | $ | 56,803 | $ | (988 | ) | ||||||||||
Loans
Loans | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||||||
NOTE 4 – LOANS | |||||||||||||||||||||||||||||
The Company 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. Ameris 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. | |||||||||||||||||||||||||||||
Commercial, financial and agricultural loans include both secured and unsecured loans for working capital, expansion, crop production, and other business purposes. Short-term working capital loans are secured by non-real estate collateral such as accounts receivable, crops, inventory and equipment. The Company 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, construction of one-to-four family 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. | |||||||||||||||||||||||||||||
Consumer installment loans and other loans include automobile loans, boat and recreational vehicle financing, and both 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. | |||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 244,991 | $ | 174,217 | $ | 189,374 | |||||||||||||||||||||||
Real estate – construction and development | 132,277 | 114,199 | 125,315 | ||||||||||||||||||||||||||
Real estate – commercial and farmland | 799,149 | 732,322 | 713,240 | ||||||||||||||||||||||||||
Real estate – residential | 355,920 | 346,480 | 343,332 | ||||||||||||||||||||||||||
Consumer installment | 36,303 | 40,178 | 43,441 | ||||||||||||||||||||||||||
Other | 20,627 | 43,239 | 25,160 | ||||||||||||||||||||||||||
$ | 1,589,267 | $ | 1,450,635 | $ | 1,439,862 | ||||||||||||||||||||||||
Covered loans are defined as loans that were acquired in FDIC-assisted transactions that are covered by a loss-sharing agreement with the FDIC. Covered loans totaling $417.6 million, $507.7 million and $546.2 million at September 30, 2013, December 31, 2012 and September 30, 2012, respectively, are not included in the above schedule. | |||||||||||||||||||||||||||||
Covered loans are shown below according to loan type as of the end of the periods shown: | |||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 27,768 | $ | 32,606 | $ | 37,167 | |||||||||||||||||||||||
Real estate – construction and development | 50,702 | 70,184 | 73,356 | ||||||||||||||||||||||||||
Real estate – commercial and farmland | 237,086 | 278,506 | 298,903 | ||||||||||||||||||||||||||
Real estate – residential | 101,146 | 125,056 | 135,154 | ||||||||||||||||||||||||||
Consumer installment | 947 | 1,360 | 1,654 | ||||||||||||||||||||||||||
$ | 417,649 | $ | 507,712 | $ | 546,234 | ||||||||||||||||||||||||
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 to interest income. Interest on loans that are classified as non-accrual is recognized when received. Past due loans are loans whose principal or interest is past due 90 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 non-covered loans accounted for on a nonaccrual basis: | |||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 4,198 | $ | 4,138 | $ | 4,285 | |||||||||||||||||||||||
Real estate – construction and development | 4,229 | 9,281 | 8,201 | ||||||||||||||||||||||||||
Real estate – commercial and farmland | 9,548 | 11,962 | 11,408 | ||||||||||||||||||||||||||
Real estate – residential | 13,303 | 12,595 | 13,236 | ||||||||||||||||||||||||||
Consumer installment | 442 | 909 | 1,095 | ||||||||||||||||||||||||||
$ | 31,720 | $ | 38,885 | $ | 38,225 | ||||||||||||||||||||||||
The following table presents an analysis of covered loans accounted for on a nonaccrual basis: | |||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 7,872 | $ | 10,765 | $ | 11,938 | |||||||||||||||||||||||
Real estate – construction and development | 16,582 | 20,027 | 21,971 | ||||||||||||||||||||||||||
Real estate – commercial and farmland | 37,079 | 55,946 | 58,377 | ||||||||||||||||||||||||||
Real estate – residential | 13,028 | 28,672 | 31,189 | ||||||||||||||||||||||||||
Consumer installment | 350 | 302 | 426 | ||||||||||||||||||||||||||
$ | 74,911 | $ | 115,712 | $ | 123,901 | ||||||||||||||||||||||||
The following table presents an aging analysis of non-covered loans as of September 30, 2013, December 31, 2012 and September 30, 2012. | |||||||||||||||||||||||||||||
Loans | Loans | Loans 90 | Total | Current | Total | Loans 90 | |||||||||||||||||||||||
30-59 | 60-89 | or More | Loans | Loans | Loans | Days or | |||||||||||||||||||||||
Days Past | Days | Days Past | Past Due | More Past | |||||||||||||||||||||||||
Due | Past Due | Due | Due and | ||||||||||||||||||||||||||
Still | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2013: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 623 | $ | 297 | $ | 4,107 | $ | 5,027 | $ | 239,964 | $ | 244,991 | $ | — | |||||||||||||||
Real estate – construction & development | 1,200 | 794 | 4,229 | 6,223 | 126,054 | 132,277 | — | ||||||||||||||||||||||
Real estate – commercial & farmland | 3,883 | 2,458 | 9,523 | 15,864 | 783,285 | 799,149 | — | ||||||||||||||||||||||
Real estate – residential | 5,515 | 3,531 | 11,818 | 20,864 | 335,056 | 355,920 | — | ||||||||||||||||||||||
Consumer installment loans | 497 | 255 | 327 | 1,079 | 35,224 | 36,303 | — | ||||||||||||||||||||||
Other | — | — | — | — | 20,627 | 20,627 | — | ||||||||||||||||||||||
Total | $ | 11,718 | $ | 7,335 | $ | 30,004 | $ | 49,057 | $ | 1,540,210 | $ | 1,589,267 | $ | — | |||||||||||||||
Loans | Loans | Loans 90 | Total | Current | Total | Loans 90 | |||||||||||||||||||||||
30-59 | 60-89 | or More | Loans | Loans | Loans | Days or | |||||||||||||||||||||||
Days Past | Days | Days Past | Past Due | More Past | |||||||||||||||||||||||||
Due | Past Due | Due | Due and | ||||||||||||||||||||||||||
Still | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of December 30, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 258 | $ | 312 | $ | 3,969 | $ | 4,539 | $ | 169,678 | $ | 174,217 | $ | — | |||||||||||||||
Real estate – construction & development | 347 | 332 | 8,969 | 9,648 | 104,551 | 114,199 | — | ||||||||||||||||||||||
Real estate – commercial & farmland | 2,867 | 2,296 | 9,544 | 14,707 | 717,615 | 732,322 | — | ||||||||||||||||||||||
Real estate – residential | 7,651 | 2,766 | 10,990 | 21,407 | 325,073 | 346,480 | — | ||||||||||||||||||||||
Consumer installment loans | 702 | 391 | 815 | 1,908 | 38,270 | 40,178 | — | ||||||||||||||||||||||
Other | — | — | — | — | 43,239 | 43,239 | — | ||||||||||||||||||||||
Total | $ | 11,825 | $ | 6,097 | $ | 34,287 | $ | 52,209 | $ | 1,398,426 | $ | 1,450,635 | $ | — | |||||||||||||||
Loans | Loans | Loans 90 | Total | Current | Total | Loans 90 | |||||||||||||||||||||||
30-59 | 60-89 | or More | Loans | Loans | Loans | Days or | |||||||||||||||||||||||
Days Past | Days | Days Past | Past Due | More Past | |||||||||||||||||||||||||
Due | Past Due | Due | Due and | ||||||||||||||||||||||||||
Still | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 1,192 | $ | 639 | $ | 3,786 | $ | 5,617 | $ | 183,757 | $ | 189,374 | $ | — | |||||||||||||||
Real estate – construction & development | 518 | 152 | 8,180 | 8,850 | 116,465 | 125,315 | — | ||||||||||||||||||||||
Real estate – commercial & farmland | 3,507 | 812 | 11,402 | 15,721 | 697,519 | 713,240 | — | ||||||||||||||||||||||
Real estate – residential | 7,200 | 2,346 | 12,372 | 21,918 | 321,414 | 343,332 | — | ||||||||||||||||||||||
Consumer installment loans | 687 | 284 | 993 | 1,964 | 41,477 | 43,441 | — | ||||||||||||||||||||||
Other | — | — | — | — | 25,160 | 25,160 | — | ||||||||||||||||||||||
Total | $ | 13,104 | $ | 4,233 | $ | 36,733 | $ | 54,070 | $ | 1,385,792 | $ | 1,439,862 | $ | — | |||||||||||||||
The following table presents an aging analysis of covered loans as of September 30, 2013, December 31, 2012 and September 30, 2012. | |||||||||||||||||||||||||||||
Loans | Loans | Loans 90 | Total | Current | Total | Loans 90 | |||||||||||||||||||||||
30-59 | 60-89 | or More | Loans | Loans | Loans | Days or | |||||||||||||||||||||||
Days Past | Days | Days Past | Past Due | More Past | |||||||||||||||||||||||||
Due | Past Due | Due | Due and | ||||||||||||||||||||||||||
Still | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2013: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 319 | $ | 50 | $ | 6,695 | $ | 7,064 | $ | 20,704 | $ | 27,768 | $ | — | |||||||||||||||
Real estate – construction & development | 2,831 | 658 | 15,781 | 19,270 | 31,432 | 50,702 | 266 | ||||||||||||||||||||||
Real estate – commercial & farmland | 7,365 | 5,350 | 30,503 | 43,218 | 193,868 | 237,086 | 568 | ||||||||||||||||||||||
Real estate – residential | 2,980 | 1,727 | 11,078 | 15,785 | 85,361 | 101,146 | 823 | ||||||||||||||||||||||
Consumer installment loans | 49 | — | 311 | 360 | 587 | 947 | — | ||||||||||||||||||||||
Total | $ | 13,544 | $ | 7,785 | $ | 64,368 | $ | 85,697 | $ | 331,952 | $ | 417,649 | $ | 1,657 | |||||||||||||||
Loans | Loans | Loans 90 | Total | Current | Total | Loans 90 | |||||||||||||||||||||||
30-59 | 60-89 | or More | Loans | Loans | Loans | Days or | |||||||||||||||||||||||
Days Past | Days | Days Past | Past Due | More Past | |||||||||||||||||||||||||
Due | Past Due | Due | Due and | ||||||||||||||||||||||||||
Still | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of December 30, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 2,390 | $ | 1,105 | $ | 10,612 | $ | 14,107 | $ | 18,499 | $ | 32,606 | $ | 98 | |||||||||||||||
Real estate – construction & development | 1,584 | 2,592 | 19,656 | 23,832 | 46,352 | 70,184 | 1,077 | ||||||||||||||||||||||
Real estate – commercial & farmland | 11,451 | 7,373 | 52,570 | 71,394 | 207,112 | 278,506 | 1,347 | ||||||||||||||||||||||
Real estate – residential | 6,066 | 3,396 | 24,976 | 34,438 | 90,618 | 125,056 | 779 | ||||||||||||||||||||||
Consumer installment loans | 45 | 13 | 258 | 316 | 1,044 | 1,360 | — | ||||||||||||||||||||||
Total | $ | 21,536 | $ | 14,479 | $ | 108,072 | $ | 144,087 | $ | 363,625 | $ | 507,712 | $ | 3,301 | |||||||||||||||
Loans | Loans | Loans 90 | Total | Current | Total | Loans 90 | |||||||||||||||||||||||
30-59 | 60-89 | or More | Loans | Loans | Loans | Days or | |||||||||||||||||||||||
Days Past | Days | Days Past | Past Due | More Past | |||||||||||||||||||||||||
Due | Past Due | Due | Due and | ||||||||||||||||||||||||||
Still | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 1,384 | $ | 788 | $ | 11,315 | $ | 13,487 | $ | 23,680 | $ | 37,167 | $ | — | |||||||||||||||
Real estate – construction & development | 3,611 | 1,663 | 22,194 | 27,468 | 45,888 | 73,356 | 2,312 | ||||||||||||||||||||||
Real estate – commercial & farmland | 7,072 | 6,559 | 51,382 | 65,013 | 233,890 | 298,903 | 808 | ||||||||||||||||||||||
Real estate – residential | 4,702 | 3,349 | 28,559 | 36,610 | 98,544 | 135,154 | 1,018 | ||||||||||||||||||||||
Consumer installment loans | 56 | 92 | 255 | 403 | 1,251 | 1,654 | — | ||||||||||||||||||||||
Total | $ | 16,825 | $ | 12,451 | $ | 113,705 | $ | 142,981 | $ | 403,253 | $ | 546,234 | $ | 4,138 | |||||||||||||||
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. 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. Impaired loans include loans on nonaccrual status and troubled debt restructurings. The Company individually assesses for impairment all nonaccrual loans greater than $200,000 and rated substandard or worse and all troubled debt restructurings greater than $100,000. If a loan is deemed impaired, a specific valuation allowance is allocated, if necessary, so that the loan is reported net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Interest payments on impaired loans are typically applied to principal unless collectability of the principal amount is reasonably assured, in which case interest is recognized on a cash basis. | |||||||||||||||||||||||||||||
The following is a summary of information pertaining to non-covered impaired loans: | |||||||||||||||||||||||||||||
As of and For the Period Ended | |||||||||||||||||||||||||||||
September 30, | December 31, | September 30, | |||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Nonaccrual loans | $ | 31,720 | $ | 38,885 | $ | 38,225 | |||||||||||||||||||||||
Troubled debt restructurings not included above | 17,024 | 18,744 | 19,893 | ||||||||||||||||||||||||||
Total impaired loans | $ | 48,744 | $ | 57,629 | $ | 58,118 | |||||||||||||||||||||||
Impaired loans not requiring a related allowance | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Impaired loans requiring a related allowance | $ | 48,744 | $ | 57,629 | $ | 58,118 | |||||||||||||||||||||||
Allowance related to impaired loans | $ | 5,180 | $ | 5,115 | $ | 7,681 | |||||||||||||||||||||||
Average investment in impaired loans | $ | 53,047 | $ | 70,209 | $ | 73,353 | |||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 468 | $ | 495 | $ | 376 | |||||||||||||||||||||||
Foregone interest income on impaired loans | $ | 388 | $ | 718 | $ | 491 | |||||||||||||||||||||||
The following table presents an analysis of information pertaining to non-covered impaired loans as of September 30, 2013, December 31, 2012 and September 30, 2012. | |||||||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||||||
Balance | Allowance | Allowance | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2013: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 7,401 | $ | — | $ | 4,719 | $ | 4,719 | $ | 820 | $ | 4,900 | |||||||||||||||||
Real estate – construction & development | 14,299 | — | 6,155 | 6,155 | 821 | 8,960 | |||||||||||||||||||||||
Real estate – commercial & farmland | 18,628 | — | 16,241 | 16,241 | 1,999 | 18,079 | |||||||||||||||||||||||
Real estate – residential | 24,701 | — | 21,174 | 21,174 | 1,530 | 20,427 | |||||||||||||||||||||||
Consumer installment loans | 565 | — | 455 | 455 | 10 | 681 | |||||||||||||||||||||||
Total | $ | 65,594 | $ | — | $ | 48,744 | $ | 48,744 | $ | 5,180 | $ | 53,047 | |||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||||||
Balance | Allowance | Allowance | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of December 31, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 8,024 | $ | — | $ | 4,940 | $ | 4,940 | $ | 743 | $ | 4,968 | |||||||||||||||||
Real estate – construction & development | 20,316 | — | 11,016 | 11,016 | 910 | 11,706 | |||||||||||||||||||||||
Real estate – commercial & farmland | 25,076 | — | 20,910 | 20,910 | 2,191 | 30,638 | |||||||||||||||||||||||
Real estate – residential | 24,155 | — | 19,848 | 19,848 | 1,246 | 21,813 | |||||||||||||||||||||||
Consumer installment loans | 1,187 | — | 915 | 915 | 25 | 1,084 | |||||||||||||||||||||||
Total | $ | 78,758 | $ | — | $ | 57,629 | $ | 57,629 | $ | 5,115 | $ | 70,209 | |||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||||||
Balance | Allowance | Allowance | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 8,261 | $ | — | $ | 5,089 | $ | 5,089 | $ | 876 | $ | 4,974 | |||||||||||||||||
Real estate – construction & development | 19,583 | — | 9,682 | 9,682 | 1,253 | 11,879 | |||||||||||||||||||||||
Real estate – commercial & farmland | 25,346 | — | 20,948 | 20,948 | 2,907 | 33,070 | |||||||||||||||||||||||
Real estate – residential | 24,993 | — | 21,304 | 21,304 | 2,616 | 22,303 | |||||||||||||||||||||||
Consumer installment loans | 1,220 | — | 1,095 | 1,095 | 29 | 1,127 | |||||||||||||||||||||||
Total | $ | 79,403 | $ | — | $ | 58,118 | $ | 58,118 | $ | 7,681 | $ | 73,353 | |||||||||||||||||
The following is a summary of information pertaining to covered impaired loans: | |||||||||||||||||||||||||||||
As of and For the Period Ended | |||||||||||||||||||||||||||||
September 30, | December 31, | September 30, | |||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Nonaccrual loans | $ | 74,911 | $ | 115,712 | $ | 123,901 | |||||||||||||||||||||||
Troubled debt restructurings not included above | 21,184 | 19,194 | 25,926 | ||||||||||||||||||||||||||
Total impaired loans | $ | 96,095 | $ | 134,906 | $ | 149,827 | |||||||||||||||||||||||
Impaired loans not requiring a related allowance | $ | 96,095 | $ | 134,906 | $ | 149,827 | |||||||||||||||||||||||
Impaired loans requiring a related allowance | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Allowance related to impaired loans | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Average investment in impaired loans | $ | 115,689 | $ | 163,825 | $ | 171,055 | |||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 793 | $ | 849 | $ | 1,319 | |||||||||||||||||||||||
Foregone interest income on impaired loans | $ | 286 | $ | 491 | $ | 554 | |||||||||||||||||||||||
The following table presents an analysis of information pertaining to impaired covered loans as of September 30, 2013, December 31, 2012 and September 30, 2012. | |||||||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||||||
Balance | Allowance | Allowance | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2013: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 10,645 | $ | 7,884 | $ | — | $ | 7,884 | $ | — | $ | 9,052 | |||||||||||||||||
Real estate – construction & development | 25,401 | 20,890 | — | 20,890 | — | 22,734 | |||||||||||||||||||||||
Real estate – commercial & farmland | 51,105 | 43,279 | — | 43,279 | — | 54,292 | |||||||||||||||||||||||
Real estate – residential | 28,078 | 23,692 | — | 23,692 | — | 29,316 | |||||||||||||||||||||||
Consumer installment loans | 404 | 350 | — | 350 | — | 295 | |||||||||||||||||||||||
Total | $ | 115,633 | $ | 96,095 | $ | — | $ | 96,095 | $ | — | $ | 115,689 | |||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||||||
Balance | Allowance | Allowance | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of December 31, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 27,060 | $ | 10,802 | $ | — | $ | 10,802 | $ | — | $ | 12,506 | |||||||||||||||||
Real estate – construction & development | 85,279 | 23,236 | — | 23,236 | — | 29,970 | |||||||||||||||||||||||
Real estate – commercial & farmland | 159,493 | 64,231 | — | 64,231 | — | 78,790 | |||||||||||||||||||||||
Real estate – residential | 63,559 | 36,335 | — | 36,335 | — | 42,061 | |||||||||||||||||||||||
Consumer installment loans | 393 | 302 | — | 302 | — | 498 | |||||||||||||||||||||||
Total | $ | 335,784 | $ | 134,906 | $ | — | $ | 134,906 | $ | — | $ | 163,825 | |||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||||||
Balance | Allowance | Allowance | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 17,833 | $ | 11,976 | $ | — | $ | 11,976 | $ | — | $ | 12,932 | |||||||||||||||||
Real estate – construction & development | 34,787 | 23,833 | — | 23,833 | — | 31,653 | |||||||||||||||||||||||
Real estate – commercial & farmland | 98,909 | 72,802 | — | 72,802 | — | 82,430 | |||||||||||||||||||||||
Real estate – residential | 54,020 | 40,790 | — | 40,790 | — | 43,492 | |||||||||||||||||||||||
Consumer installment loans | 890 | 426 | — | 426 | — | 548 | |||||||||||||||||||||||
Total | $ | 206,439 | $ | 149,827 | $ | — | $ | 149,827 | $ | — | $ | 171,055 | |||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||
The Company uses a nine category risk grading system to assign a risk grade to each loan in the portfolio. 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. Generally, debt service coverage and borrower’s liquidity is materially better than required by the Company’s loan policy. | |||||||||||||||||||||||||||||
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%, based on a documented collateral valuation. | |||||||||||||||||||||||||||||
Grade 25 – Minimum Acceptable Credit – This grade includes loans which exhibit all the characteristics of a Satisfactory Credit, but warrant more than normal level of banker supervision due to (i) circumstances which elevate the risks of performance (such as start-up operations, untested management, heavy leverage, interim losses); (ii) adverse, extraordinary events that have affected, or could affect, the borrower’s cash flow, financial condition, ability to continue operating profitability or refinancing (such as death of principal, fire, divorce); (iii) loans that require more than the normal servicing requirements (such as any type of construction financing, acquisition and development loans, accounts receivable or inventory loans and floor plan loans); (iv) existing technical exceptions which raise some doubts about the Bank’s perfection in its collateral position or the continued financial capacity of the borrower; or (v) improvements in formerly criticized borrowers, which may warrant banker supervision. | |||||||||||||||||||||||||||||
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 sound worth 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 loss has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing it off. | |||||||||||||||||||||||||||||
The following table presents the non-covered loan portfolio by risk grade as of September 30, 2013. | |||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment loans | ||||||||||||||||||||||||
agricultural | development | farmland | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
10 | $ | 65,033 | $ | — | $ | 278 | $ | 420 | $ | 7,028 | $ | — | $ | 72,759 | |||||||||||||||
15 | 20,668 | 5,080 | 147,355 | 56,464 | 1,243 | — | 230,810 | ||||||||||||||||||||||
20 | 89,216 | 37,765 | 421,669 | 142,186 | 19,691 | 20,627 | 731,154 | ||||||||||||||||||||||
23 | 97 | 7,085 | 10,054 | 13,275 | 218 | — | 30,729 | ||||||||||||||||||||||
25 | 60,407 | 72,942 | 183,371 | 109,604 | 7,034 | — | 433,358 | ||||||||||||||||||||||
30 | 3,019 | 2,264 | 12,089 | 11,427 | 153 | — | 28,952 | ||||||||||||||||||||||
40 | 6,326 | 7,141 | 24,333 | 22,534 | 936 | — | 61,270 | ||||||||||||||||||||||
50 | 225 | — | — | 10 | — | — | 235 | ||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 244,991 | $ | 132,277 | $ | 799,149 | $ | 355,920 | $ | 36,303 | $ | 20,627 | $ | 1,589,267 | |||||||||||||||
The following table presents the non-covered loan portfolio by risk grade as of December 31, 2012. | |||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment loans | ||||||||||||||||||||||||
agricultural | development | farmland | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
10 | $ | 24,623 | $ | — | $ | 309 | $ | 464 | $ | 7,597 | $ | — | $ | 32,993 | |||||||||||||||
15 | 11,316 | 4,373 | 147,966 | 71,254 | 1,591 | — | 236,500 | ||||||||||||||||||||||
20 | 79,522 | 31,413 | 351,997 | 114,418 | 21,361 | 43,239 | 641,950 | ||||||||||||||||||||||
23 | 42 | 8,521 | 9,012 | 13,788 | 70 | — | 31,433 | ||||||||||||||||||||||
25 | 49,071 | 52,577 | 176,395 | 113,591 | 7,576 | — | 399,210 | ||||||||||||||||||||||
30 | 2,343 | 3,394 | 19,401 | 9,672 | 488 | — | 35,298 | ||||||||||||||||||||||
40 | 7,200 | 13,765 | 27,242 | 23,292 | 1,495 | — | 72,994 | ||||||||||||||||||||||
50 | 100 | 156 | — | 1 | — | — | 257 | ||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 174,217 | $ | 114,199 | $ | 732,322 | $ | 346,480 | $ | 40,178 | $ | 43,239 | $ | 1,450,635 | |||||||||||||||
The following table presents the non-covered loan portfolio by risk grade as of September 30, 2012. | |||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment loans | ||||||||||||||||||||||||
agricultural | development | farmland | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
10 | $ | 26,291 | $ | — | $ | 220 | $ | 411 | $ | 7,887 | $ | — | $ | 34,809 | |||||||||||||||
15 | 11,816 | 4,532 | 152,678 | 74,040 | 1,400 | — | 244,466 | ||||||||||||||||||||||
20 | 80,681 | 33,603 | 324,270 | 105,531 | 23,038 | 25,160 | 592,283 | ||||||||||||||||||||||
23 | 5 | 7,667 | 8,773 | 13,650 | 81 | — | 30,176 | ||||||||||||||||||||||
25 | 62,377 | 59,013 | 184,146 | 113,560 | 8,502 | — | 427,598 | ||||||||||||||||||||||
30 | 1,508 | 7,948 | 14,742 | 10,535 | 745 | — | 35,478 | ||||||||||||||||||||||
40 | 6,436 | 12,396 | 28,411 | 25,583 | 1,780 | — | 74,606 | ||||||||||||||||||||||
50 | 260 | 156 | — | 22 | 8 | — | 446 | ||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 189,374 | $ | 125,315 | $ | 713,240 | $ | 343,332 | $ | 43,441 | $ | 25,160 | $ | 1,439,862 | |||||||||||||||
The following table presents the covered loan portfolio by risk grade as of September 30, 2013. | |||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment loans | ||||||||||||||||||||||||
agricultural | development | farmland | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
10 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
15 | — | 22 | 1,098 | 641 | — | — | 1,761 | ||||||||||||||||||||||
20 | 2,697 | 11,347 | 34,252 | 22,545 | 208 | — | 71,049 | ||||||||||||||||||||||
23 | 135 | 1,080 | 16,708 | 2,902 | 51 | — | 20,876 | ||||||||||||||||||||||
25 | 7,609 | 7,360 | 108,886 | 39,632 | 250 | — | 163,737 | ||||||||||||||||||||||
30 | 1,485 | 5,505 | 24,790 | 9,196 | 14 | — | 40,990 | ||||||||||||||||||||||
40 | 15,842 | 25,388 | 51,352 | 26,230 | 424 | — | 119,236 | ||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 27,768 | $ | 50,702 | $ | 237,086 | $ | 101,146 | $ | 947 | $ | — | $ | 417,649 | |||||||||||||||
The following table presents the covered loan portfolio by risk grade as of December 31, 2012. | |||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment loans | ||||||||||||||||||||||||
agricultural | development | farmland | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
10 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
15 | — | 39 | 1,640 | 644 | — | — | 2,323 | ||||||||||||||||||||||
20 | 3,997 | 12,194 | 37,098 | 31,337 | 292 | — | 84,918 | ||||||||||||||||||||||
23 | 28 | 1,174 | 9,576 | 2,052 | — | — | 12,830 | ||||||||||||||||||||||
25 | 10,013 | 19,216 | 114,849 | 40,194 | 558 | — | 184,830 | ||||||||||||||||||||||
30 | 4,294 | 7,214 | 38,665 | 11,883 | 50 | — | 62,106 | ||||||||||||||||||||||
40 | 14,274 | 30,347 | 76,678 | 38,946 | 460 | — | 160,705 | ||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 32,606 | $ | 70,184 | $ | 278,506 | $ | 125,056 | $ | 1,360 | $ | — | $ | 507,712 | |||||||||||||||
The following table presents the covered loan portfolio by risk grade as of September 30, 2012. | |||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment loans | ||||||||||||||||||||||||
agricultural | development | farmland | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
10 | $ | — | $ | 8 | $ | — | $ | 853 | $ | — | $ | — | $ | 861 | |||||||||||||||
15 | 91 | 44 | 1,673 | 708 | — | — | 2,516 | ||||||||||||||||||||||
20 | 4,970 | 13,950 | 40,912 | 34,397 | 319 | — | 94,548 | ||||||||||||||||||||||
23 | 30 | 1,226 | 4,638 | 1,889 | — | — | 7,783 | ||||||||||||||||||||||
25 | 11,986 | 18,921 | 130,155 | 44,999 | 721 | — | 206,782 | ||||||||||||||||||||||
30 | 4,063 | 7,494 | 35,764 | 9,016 | 64 | — | 56,401 | ||||||||||||||||||||||
40 | 16,027 | 31,713 | 85,761 | 43,292 | 550 | — | 177,343 | ||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 37,167 | $ | 73,356 | $ | 298,903 | $ | 135,154 | $ | 1,654 | $ | — | $ | 546,234 | |||||||||||||||
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 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 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 that 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, approved by the Company’s Senior 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 nine months of 2013 totaling $17.0 million and loans in the first nine months of 2012 totaling $23.5 million under such parameters. In addition, the Company offers consumer loan customers an annual skip-a-pay program that is based on certain qualifying parameters and not based on financial difficulties. The Company does not treat these as troubled debt restructurings. | |||||||||||||||||||||||||||||
The following table presents the amount of troubled debt restructurings by loan class, classified separately as accrual and non-accrual at September 30, 2013, December 31, 2012 and September 30, 2012: | |||||||||||||||||||||||||||||
As of September 30, 2013 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Loan class: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Commercial, financial & agricultural | 4 | $ | 521 | 3 | $ | 533 | |||||||||||||||||||||||
Real estate – construction & development | 8 | 1,926 | 1 | 29 | |||||||||||||||||||||||||
Real estate – commercial & farmland | 16 | 6,693 | 3 | 1,858 | |||||||||||||||||||||||||
Real estate – residential | 35 | 7,871 | 7 | 704 | |||||||||||||||||||||||||
Consumer installment | 1 | 13 | 2 | 26 | |||||||||||||||||||||||||
Total | 64 | $ | 17,024 | 16 | $ | 3,150 | |||||||||||||||||||||||
As of December 31, 2012 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Loan class: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Commercial, financial & agricultural | 5 | $ | 802 | — | $ | — | |||||||||||||||||||||||
Real estate – construction & development | 5 | 1,735 | — | — | |||||||||||||||||||||||||
Real estate – commercial & farmland | 16 | 8,947 | 3 | 4,149 | |||||||||||||||||||||||||
Real estate – residential | 28 | 7,254 | 2 | 1,022 | |||||||||||||||||||||||||
Consumer installment | 1 | 6 | — | — | |||||||||||||||||||||||||
Total | 55 | $ | 18,744 | 5 | $ | 5,171 | |||||||||||||||||||||||
As of September 30, 2012 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Loan class: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Commercial, financial & agricultural | 5 | $ | 804 | — | $ | — | |||||||||||||||||||||||
Real estate – construction & development | 4 | 1,481 | — | — | |||||||||||||||||||||||||
Real estate – commercial & farmland | 15 | 9,540 | 1 | 2,770 | |||||||||||||||||||||||||
Real estate – residential | 27 | 8,068 | 2 | 620 | |||||||||||||||||||||||||
Total | 51 | $ | 19,893 | 3 | $ | 3,390 | |||||||||||||||||||||||
The following table presents the amount of troubled debt restructurings by loan class, classified separately as those currently paying under restructured terms and those that have defaulted under restructured terms at September 30, 2013, December 31, 2012 and September 30, 2012: | |||||||||||||||||||||||||||||
As of September 30, 2013 | Loans Currently Paying | Loans that have Defaulted | |||||||||||||||||||||||||||
Under Restructured | Under Restructured | ||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Loan class: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Commercial, financial & agricultural | 3 | $ | 508 | 4 | $ | 546 | |||||||||||||||||||||||
Real estate – construction & development | 6 | 1,881 | 3 | 74 | |||||||||||||||||||||||||
Real estate – commercial & farmland | 14 | 6,550 | 5 | 2,001 | |||||||||||||||||||||||||
Real estate – residential | 31 | 7,282 | 11 | 1,293 | |||||||||||||||||||||||||
Consumer installment | 2 | 37 | 1 | 2 | |||||||||||||||||||||||||
Total | 56 | $ | 16,258 | 24 | $ | 3,916 | |||||||||||||||||||||||
As of December 31, 2012 | Loans Currently Paying | Loans that have Defaulted | |||||||||||||||||||||||||||
Under Restructured | Under Restructured | ||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Loan class: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Commercial, financial & agricultural | 5 | $ | 802 | — | $ | — | |||||||||||||||||||||||
Real estate – construction & development | 5 | 1,735 | — | — | |||||||||||||||||||||||||
Real estate – commercial & farmland | 16 | 8,947 | 3 | 4,149 | |||||||||||||||||||||||||
Real estate – residential | 28 | 7,254 | 2 | 1,022 | |||||||||||||||||||||||||
Consumer installment | — | — | 1 | 6 | |||||||||||||||||||||||||
Total | 54 | $ | 18,738 | 6 | $ | 5,177 | |||||||||||||||||||||||
As of September 30, 2012 | Loans Currently Paying | Loans that have Defaulted | |||||||||||||||||||||||||||
Under Restructured | Under Restructured | ||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Loan class: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Commercial, financial & agricultural | 5 | $ | 804 | — | $ | — | |||||||||||||||||||||||
Real estate – construction & development | 4 | 1,481 | — | — | |||||||||||||||||||||||||
Real estate – commercial & farmland | 15 | 9,540 | 1 | 2,770 | |||||||||||||||||||||||||
Real estate – residential | 26 | 8,068 | 3 | 620 | |||||||||||||||||||||||||
Total | 50 | $ | 19,893 | 4 | $ | 3,390 | |||||||||||||||||||||||
The following table presents the amount of troubled debt restructurings by types of concessions made, classified separately as accrual and non-accrual at September 30, 2013, December 31, 2012 and September 30, 2012: | |||||||||||||||||||||||||||||
As of September 30, 2013 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Type of concession: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Forbearance of interest | 9 | $ | 2,135 | 2 | $ | 101 | |||||||||||||||||||||||
Forgiveness of principal | 3 | 1,479 | 1 | 145 | |||||||||||||||||||||||||
Payment modification only | 2 | 370 | — | — | |||||||||||||||||||||||||
Rate reduction only | 14 | 7,146 | 2 | 496 | |||||||||||||||||||||||||
Rate reduction, forbearance of interest | 18 | 2,878 | 10 | 2,379 | |||||||||||||||||||||||||
Rate reduction, forbearance of principal | 18 | 3,016 | — | — | |||||||||||||||||||||||||
Rate reduction, payment modification | — | — | 1 | 29 | |||||||||||||||||||||||||
Total | 64 | $ | 17,024 | 16 | $ | 3,150 | |||||||||||||||||||||||
As of December 31, 2012 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Type of concession: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Forbearance of interest | 2 | $ | 1,873 | — | $ | — | |||||||||||||||||||||||
Forgiveness of principal | 3 | 1,518 | 1 | 372 | |||||||||||||||||||||||||
Payment modification only | 2 | 376 | — | — | |||||||||||||||||||||||||
Rate reduction only | 11 | 7,075 | 1 | 177 | |||||||||||||||||||||||||
Rate reduction, forbearance of interest | 18 | 4,061 | 2 | 3,420 | |||||||||||||||||||||||||
Rate reduction, forbearance of principal | 18 | 3,798 | — | — | |||||||||||||||||||||||||
Rate reduction, payment modification | 1 | 43 | 1 | 1,202 | |||||||||||||||||||||||||
Total | 55 | $ | 18,744 | 5 | $ | 5,171 | |||||||||||||||||||||||
As of September 30, 2012 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Type of concession: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Forbearance of interest | 2 | $ | 1,902 | — | $ | — | |||||||||||||||||||||||
Forgiveness of principal | 3 | 1,516 | 1 | 369 | |||||||||||||||||||||||||
Payment modification only | 2 | 1,292 | 1 | 251 | |||||||||||||||||||||||||
Rate reduction only | 10 | 5,889 | — | — | |||||||||||||||||||||||||
Rate reduction, forbearance of interest | 15 | 4,371 | 1 | 2,770 | |||||||||||||||||||||||||
Rate reduction, forbearance of principal | 18 | 4,874 | — | — | |||||||||||||||||||||||||
Rate reduction, payment modification | 1 | 49 | — | — | |||||||||||||||||||||||||
Total | 51 | $ | 19,893 | 3 | $ | 3,390 | |||||||||||||||||||||||
The following table presents the amount of troubled debt restructurings by collateral types, classified separately as accrual and non-accrual at September 30, 2013, December 31, 2012 and September 30, 2012: | |||||||||||||||||||||||||||||
As of September 30, 2013 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Collateral type: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Warehouse | 3 | $ | 1,065 | 1 | $ | 176 | |||||||||||||||||||||||
Raw land | 3 | 1,337 | 1 | 29 | |||||||||||||||||||||||||
Agricultural land | 2 | 380 | — | — | |||||||||||||||||||||||||
Hotel & motel | 3 | 2,219 | — | — | |||||||||||||||||||||||||
Office | 4 | 1,924 | — | — | |||||||||||||||||||||||||
Retail, including strip centers | 4 | 1,105 | 2 | 1,682 | |||||||||||||||||||||||||
1-4 family residential | 40 | 8,460 | 7 | 704 | |||||||||||||||||||||||||
Life insurance policy | 1 | 250 | — | — | |||||||||||||||||||||||||
Automobile/equipment/inventory | 3 | 36 | 4 | 509 | |||||||||||||||||||||||||
Unsecured | 1 | 248 | 1 | 50 | |||||||||||||||||||||||||
Total | 64 | $ | 17,024 | 16 | $ | 3,150 | |||||||||||||||||||||||
As of December 31, 2012 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Collateral type: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Warehouse | 3 | $ | 1,692 | 1 | $ | 177 | |||||||||||||||||||||||
Raw land | 2 | 1,337 | — | — | |||||||||||||||||||||||||
Hotel & motel | 3 | 2,318 | — | — | |||||||||||||||||||||||||
Office | 4 | 2,105 | 1 | 2,770 | |||||||||||||||||||||||||
Retail, including strip centers | 6 | 2,833 | 1 | 1,202 | |||||||||||||||||||||||||
1-4 family residential | 31 | 7,651 | 2 | 1,022 | |||||||||||||||||||||||||
Life insurance policy | 1 | 250 | — | — | |||||||||||||||||||||||||
Automobile/equipment/inventory | 4 | 508 | — | — | |||||||||||||||||||||||||
Unsecured | 1 | 50 | — | — | |||||||||||||||||||||||||
Total | 55 | $ | 18,744 | 5 | $ | 5,171 | |||||||||||||||||||||||
As of September 30, 2012 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Collateral type: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Warehouse | 3 | $ | 1,621 | — | $ | — | |||||||||||||||||||||||
Raw land | 2 | 1,349 | — | — | |||||||||||||||||||||||||
Hotel & motel | 3 | 2,362 | — | — | |||||||||||||||||||||||||
Office | 2 | 1,503 | 1 | 2,770 | |||||||||||||||||||||||||
Retail, including strip centers | 7 | 4,054 | — | — | |||||||||||||||||||||||||
1-4 family residential | 30 | 8,216 | 2 | 620 | |||||||||||||||||||||||||
Inventory | 1 | 450 | — | — | |||||||||||||||||||||||||
Equipment | 1 | 38 | — | — | |||||||||||||||||||||||||
Unsecured | 2 | 300 | — | — | |||||||||||||||||||||||||
Total | 51 | $ | 19,893 | 3 | $ | 3,390 | |||||||||||||||||||||||
As of September 30, 2013, December 31, 2012 and September 30, 2012, the Company had a balance of $20.2 million, $23.9 million and $23.3 million, respectively, in troubled debt restructurings. The Company has recorded $2.1 million, $1.9 million and $2.1 million in previous charge-offs on such loans at September 30, 2013, December 31, 2012 and September 30, 2012, respectively. The Company’s balance in the allowance for loan losses allocated to such troubled debt restructurings was $412,000, $640,000 and $676,000 at September 30, 2013, December 31, 2012 and September 30, 2012, respectively. At September 30, 2013, the Company did not have any commitments to lend additional funds to debtors whose terms have been modified in troubled restructurings. | |||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||
The allowance for loan losses represents a reserve for inherent 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 independent auditors and 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 data such as 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 their markets, unemployment rates, the effect of weather conditions on agricultural related entities and other significant local economic events. | |||||||||||||||||||||||||||||
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, with the exception of credit card receivables and overdraft protection loans which 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. Many of the larger loans require an annual review by an independent loan officer or an independent third party loan review firm. As a result of these loan reviews, certain loans may be assigned specific reserve allocations. Other loans that surface as problem loans may also be assigned specific reserves. Past due loans are assigned risk ratings based on the number of days past due. The calculation of the allowance for loan losses, including underlying data and assumptions, is reviewed regularly by the Company’s Chief Financial Officer and the Director of Internal Audit. | |||||||||||||||||||||||||||||
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. | |||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, the year ended December 31, 2012 and the nine months ended September 30, 2012, the Company recorded provision for loan loss expense of $1.3 million, $2.6 million and $2.3 million, respectively, to account for losses where the initial estimate of cash flows was found to be excessive on loans acquired in FDIC-assisted transactions. These amounts are excluded from the rollforwards below but are reflected in the Company’s Consolidated Statements of Earnings and Comprehensive Income. | |||||||||||||||||||||||||||||
The following table details activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2013, the year ended December 31, 2012 and the nine months ended September 30, 2012. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. | |||||||||||||||||||||||||||||
Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Total | ||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | |||||||||||||||||||||||||
agricultural | development | farmland | loans and | ||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Balance, January 1, 2013 | $ | 2,439 | $ | 5,343 | $ | 9,157 | $ | 5,898 | $ | 756 | $ | 23,593 | |||||||||||||||||
Provision for loan losses | 1,011 | 2,127 | 2,632 | 2,966 | 11 | 8,747 | |||||||||||||||||||||||
Loans charged off | (1,216 | ) | (1,598 | ) | (2,873 | ) | (3,430 | ) | (576 | ) | (9,693 | ) | |||||||||||||||||
Recoveries of loans previously charged off | 340 | 88 | 18 | 520 | 241 | 1,207 | |||||||||||||||||||||||
Balance, September 30, 2013 | $ | 2,574 | $ | 5,960 | $ | 8,934 | $ | 5,954 | $ | 432 | $ | 23,854 | |||||||||||||||||
Period-end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 741 | $ | 682 | $ | 1,997 | $ | 1,429 | $ | — | $ | 4,849 | |||||||||||||||||
Loans collectively evaluated for impairment | 1,833 | 5,278 | 6,937 | 4,525 | 432 | 19,005 | |||||||||||||||||||||||
Ending balance | $ | 2,574 | $ | 5,960 | $ | 8,934 | $ | 5,954 | $ | 432 | $ | 23,854 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,657 | $ | 3,524 | $ | 14,605 | $ | 16,919 | $ | — | $ | 38,705 | |||||||||||||||||
Collectively evaluated for impairment | 241,334 | 128,753 | 784,544 | 339,001 | 56,930 | 1,550,562 | |||||||||||||||||||||||
Ending balance | $ | 244,991 | $ | 132,277 | $ | 799,149 | $ | 355,920 | $ | 56,930 | $ | 1,589,267 | |||||||||||||||||
Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Total | ||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | |||||||||||||||||||||||||
agricultural | development | farmland | loans and | ||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Balance, January 1, 2012 | $ | 2,918 | $ | 9,438 | $ | 14,226 | $ | 8,128 | $ | 446 | $ | 35,156 | |||||||||||||||||
Provision for loan losses | 815 | 5,245 | 15,000 | 6,267 | 1,124 | 28,451 | |||||||||||||||||||||||
Loans charged off | (1,451 | ) | (9,380 | ) | (20,551 | ) | (8,722 | ) | (1,059 | ) | (41,163 | ) | |||||||||||||||||
Recoveries of loans previously charged off | 157 | 40 | 482 | 225 | 245 | 1,149 | |||||||||||||||||||||||
Balance, December 31, 2012 | $ | 2,439 | $ | 5,343 | $ | 9,157 | $ | 5,898 | $ | 756 | $ | 23,593 | |||||||||||||||||
Period-end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 659 | $ | 611 | $ | 2,228 | $ | 1,056 | $ | — | $ | 4,554 | |||||||||||||||||
Loans collectively evaluated for impairment | 1,780 | 4,732 | 6,929 | 4,842 | 756 | 19,039 | |||||||||||||||||||||||
Ending balance | $ | 2,439 | $ | 5,343 | $ | 9,157 | $ | 5,898 | $ | 756 | $ | 23,593 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,351 | $ | 7,617 | $ | 21,332 | $ | 13,020 | $ | — | $ | 45,320 | |||||||||||||||||
Collectively evaluated for impairment | 170,866 | 106,582 | 710,990 | 333,460 | 83,417 | 1,405,315 | |||||||||||||||||||||||
Ending balance | $ | 174,217 | $ | 114,199 | $ | 732,322 | $ | 346,480 | $ | 83,417 | $ | 1,450,635 | |||||||||||||||||
Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Total | ||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | |||||||||||||||||||||||||
agricultural | development | farmland | loans and | ||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Balance, January 1, 2012 | $ | 2,918 | $ | 9,438 | $ | 14,226 | $ | 8,128 | $ | 446 | $ | 35,156 | |||||||||||||||||
Provision for loan losses | 677 | 4,954 | 13,087 | 4,936 | 706 | 24,360 | |||||||||||||||||||||||
Loans charged off | (889 | ) | (7,819 | ) | (18,199 | ) | (6,642 | ) | (618 | ) | (34,167 | ) | |||||||||||||||||
Recoveries of loans previously charged off | 101 | 23 | 32 | 199 | 197 | 552 | |||||||||||||||||||||||
Balance, September 30, 2012 | $ | 2,807 | $ | 6,596 | $ | 9,146 | $ | 6,621 | $ | 731 | $ | 25,901 | |||||||||||||||||
Period-end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 610 | $ | 526 | $ | 2,315 | $ | 2,105 | $ | — | $ | 5,556 | |||||||||||||||||
Loans collectively evaluated for impairment | 2,197 | 6,070 | 6,831 | 4,516 | 731 | 20,345 | |||||||||||||||||||||||
Ending balance | $ | 2,807 | $ | 6,596 | $ | 9,146 | $ | 6,621 | $ | 731 | $ | 25,901 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,748 | $ | 5,510 | $ | 21,552 | $ | 15,178 | $ | — | $ | 44,988 | |||||||||||||||||
Collectively evaluated for impairment | 186,626 | 119,805 | 691,688 | 328,154 | 68,601 | 1,394,874 | |||||||||||||||||||||||
Ending balance | $ | 189,374 | $ | 125,315 | $ | 713,240 | $ | 343,332 | $ | 68,601 | $ | 1,439,862 | |||||||||||||||||
Assets_Acquired_in_FDICAssiste
Assets Acquired in FDIC-Assisted Acquisitions | 9 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Assets Acquired in FDIC-Assisted Acquisitions | ' | ||||||||||||||||||||||||||||||||||||
NOTE 5 – ASSETS ACQUIRED IN FDIC-ASSISTED ACQUISITIONS | |||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||
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 (“ASC 310”), applies to a loan with evidence of deterioration of credit quality since origination, acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. ASC 310 prohibits carrying over or creating an allowance for loan losses upon initial recognition for loans which fall under the scope of this statement. At the acquisition dates, a majority of these loans were valued based on the liquidation value of the underlying collateral because the future cash flows are primarily based on the liquidation of underlying collateral. There was no allowance for credit losses established related to these ASC 310 loans at the acquisition dates, based on the provisions of this statement. Over the life of the acquired loans, the Company continues to estimate cash flows expected to be collected. If the expected cash flows expected to be collected increases, then the Company adjusts the amount of accretable discount recognized on a prospective basis over the loan’s remaining life. If the expected cash flows expected to be collected decreases, then the Company records a provision for loan loss in its consolidated statement of operations. | |||||||||||||||||||||||||||||||||||||
The following table summarizes components of all covered assets at September 30, 2013, December 31, 2012 and September 30, 2012 and their origin: | |||||||||||||||||||||||||||||||||||||
Covered | Less: | Less: | Total | OREO | Less: | Total | Total | FDIC | |||||||||||||||||||||||||||||
loans | Credit risk | Liquidity | covered | Fair value | covered | covered | indemnification | ||||||||||||||||||||||||||||||
adjustments | and rate | loans | adjustments | OREO | assets | asset | |||||||||||||||||||||||||||||||
adjustments | |||||||||||||||||||||||||||||||||||||
As of September 30, 2013: | (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||
AUB | $ | 19,336 | $ | 915 | $ | — | $ | 18,421 | $ | 3,338 | $ | 3 | $ | 3,335 | $ | 21,756 | $ | 3,704 | |||||||||||||||||||
USB | 21,168 | 1,665 | — | 19,503 | 3,066 | 139 | 2,927 | 22,430 | 2,796 | ||||||||||||||||||||||||||||
SCB | 35,555 | 1,902 | — | 33,653 | 5,348 | 429 | 4,919 | 38,572 | 4,020 | ||||||||||||||||||||||||||||
FBJ | 27,222 | 3,965 | — | 23,257 | 1,582 | 170 | 1,412 | 24,669 | 4,990 | ||||||||||||||||||||||||||||
DBT | 116,685 | 21,739 | — | 94,946 | 19,720 | 1,639 | 18,081 | 113,027 | 23,955 | ||||||||||||||||||||||||||||
TBC | 35,588 | 2,519 | 54 | 33,015 | 5,912 | 843 | 5,069 | 38,084 | 4,315 | ||||||||||||||||||||||||||||
HTB | 70,156 | 8,232 | 41 | 61,883 | 6,998 | 2,445 | 4,553 | 66,436 | 11,065 | ||||||||||||||||||||||||||||
OGB | 63,794 | 6,658 | 108 | 57,028 | 9,921 | 3,918 | 6,003 | 63,031 | 9,458 | ||||||||||||||||||||||||||||
CBG | 92,755 | 16,712 | 100 | 75,943 | 8,299 | 2,046 | 6,253 | 82,196 | 17,460 | ||||||||||||||||||||||||||||
Total | $ | 482,259 | $ | 64,307 | $ | 303 | $ | 417,649 | $ | 64,184 | $ | 11,632 | $ | 52,552 | $ | 470,201 | $ | 81,763 | |||||||||||||||||||
Covered | Less: | Less: | Total | OREO | Less: | Total | Total | FDIC | |||||||||||||||||||||||||||||
loans | Credit risk | Liquidity | covered | Fair value | covered | covered | indemnification | ||||||||||||||||||||||||||||||
adjustments | and rate | loans | adjustments | OREO | assets | asset | |||||||||||||||||||||||||||||||
adjustments | |||||||||||||||||||||||||||||||||||||
As of December 31, 2012: | (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||
AUB | $ | 27,169 | $ | 2,481 | $ | — | $ | 24,688 | $ | 10,636 | $ | 102 | $ | 10,534 | $ | 35,222 | $ | 2,905 | |||||||||||||||||||
USB | 27,286 | 4,320 | — | 22,966 | 7,087 | 99 | 6,988 | 29,954 | 6,619 | ||||||||||||||||||||||||||||
SCB | 41,389 | 3,285 | — | 38,104 | 10,686 | 654 | 10,032 | 48,136 | 6,133 | ||||||||||||||||||||||||||||
FBJ | 32,574 | 6,204 | 27 | 26,343 | 3,260 | 526 | 2,734 | 29,077 | 6,589 | ||||||||||||||||||||||||||||
DBT | 169,527 | 41,631 | 207 | 127,689 | 30,395 | 2,160 | 28,235 | 155,924 | 47,012 | ||||||||||||||||||||||||||||
TBC | 46,796 | 4,979 | 173 | 41,644 | 11,089 | 1,381 | 9,708 | 51,352 | 8,073 | ||||||||||||||||||||||||||||
HTB | 90,602 | 16,072 | 52 | 74,478 | 13,980 | 4,954 | 9,026 | 83,504 | 20,020 | ||||||||||||||||||||||||||||
OGB | 81,908 | 17,127 | 136 | 64,645 | 9,168 | 4,078 | 5,090 | 69,735 | 16,871 | ||||||||||||||||||||||||||||
CBG | 124,200 | 36,884 | 161 | 87,155 | 9,046 | 3,120 | 5,926 | 93,081 | 45,502 | ||||||||||||||||||||||||||||
Total | $ | 641,451 | $ | 132,983 | $ | 756 | $ | 507,712 | $ | 105,347 | $ | 17,074 | $ | 88,273 | $ | 595,985 | $ | 159,724 | |||||||||||||||||||
Covered | Less: | Less: | Total | OREO | Less: | Total | Total | FDIC | |||||||||||||||||||||||||||||
loans | Credit risk | Liquidity | covered | Fair value | covered | covered | indemnification | ||||||||||||||||||||||||||||||
adjustments | and rate | loans | adjustments | OREO | assets | asset | |||||||||||||||||||||||||||||||
adjustments | |||||||||||||||||||||||||||||||||||||
As of September 30, 2012: | (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||
AUB | $ | 28,955 | $ | 2,532 | $ | — | $ | 26,423 | $ | 10,342 | $ | — | $ | 10,342 | $ | 36,765 | $ | 3,256 | |||||||||||||||||||
USB | 33,145 | 5,036 | — | 28,109 | 7,641 | 99 | 7,542 | 35,651 | 8,408 | ||||||||||||||||||||||||||||
SCB | 44,340 | 3,892 | — | 40,448 | 10,464 | 646 | 9,818 | 50,266 | 6,130 | ||||||||||||||||||||||||||||
FBJ | 33,312 | 6,299 | 43 | 26,970 | 3,407 | 572 | 2,835 | 29,805 | 6,731 | ||||||||||||||||||||||||||||
DBT | 186,815 | 47,598 | 331 | 138,886 | 33,404 | 2,798 | 30,606 | 169,492 | 63,789 | ||||||||||||||||||||||||||||
TBC | 51,084 | 5,790 | 212 | 45,082 | 10,110 | 1,533 | 8,577 | 53,659 | 15,559 | ||||||||||||||||||||||||||||
HTB | 95,904 | 18,727 | 56 | 77,121 | 15,219 | 5,766 | 9,453 | 86,574 | 23,698 | ||||||||||||||||||||||||||||
OGB | 86,091 | 18,719 | 146 | 67,226 | 7,874 | 3,663 | 4,211 | 71,437 | 21,419 | ||||||||||||||||||||||||||||
CBG | 139,583 | 43,406 | 208 | 95,969 | 8,518 | 3,007 | 5,511 | 101,480 | 49,450 | ||||||||||||||||||||||||||||
Total | $ | 699,229 | $ | 151,999 | $ | 996 | $ | 546,234 | $ | 106,979 | $ | 18,084 | $ | 88,895 | $ | 635,129 | $ | 198,440 | |||||||||||||||||||
On the dates of acquisition, the Company estimated the future cash flows on each individual loan and made the necessary adjustments to reflect the asset at fair value. At each quarter end subsequent to the acquisition dates, the Company revises the estimates of future cash flows based on current information and makes the necessary adjustments to continue reflecting the assets at fair value. The adjustments to fair value are performed on a loan-by-loan basis and have resulted in the following: | |||||||||||||||||||||||||||||||||||||
Total Amounts | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||
Adjustments needed where the Company’s initial estimate of cash flows were underestimated: (recorded with a reclassification from non-accretable difference to accretable discount) | $ | 50,703 | $ | 23,050 | $ | 16,210 | |||||||||||||||||||||||||||||||
Adjustments needed where the Company’s initial estimate of cash flows were overstated: (recorded through a provision for loan losses) | 6,305 | 13,190 | 11,435 | ||||||||||||||||||||||||||||||||||
Amounts reflected in the Company’s Statement of Operations | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||
Adjustments needed where the Company’s initial estimate of cash flows were underestimated: (recorded with a reclassification from non-accretable difference to accretable discount) | $ | 10,141 | $ | 4,610 | $ | 3,242 | |||||||||||||||||||||||||||||||
Adjustments needed where the Company’s initial estimate of cash flows were overstated: (recorded through a provision for loan losses) | 1,261 | 2,638 | 2,287 | ||||||||||||||||||||||||||||||||||
A rollforward of acquired loans with deterioration of credit quality for the nine months ended September 30, 2013, the year ended December 31, 2012 and the nine months ended September 30, 2012 is shown below: | |||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||||||||||
Balance, January 1 | $ | 282,737 | $ | 307,790 | $ | 307,790 | |||||||||||||||||||||||||||||||
Change in estimate of cash flows, net of charge-offs or recoveries | 30,371 | (17,712 | ) | (7,119 | ) | ||||||||||||||||||||||||||||||||
Additions due to acquisitions | — | 73,414 | 73,414 | ||||||||||||||||||||||||||||||||||
Other (loan payments, transfers, etc.) | (81,519 | ) | (80,755 | ) | (70,402 | ) | |||||||||||||||||||||||||||||||
Ending balance | $ | 231,589 | $ | 282,737 | $ | 303,683 | |||||||||||||||||||||||||||||||
A rollforward of acquired loans without deterioration of credit quality for the nine months ended September 30, 2013, the year ended December 31, 2012 and the nine months ended September 30, 2012 is shown below: | |||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||||||||||
Balance, January 1 | $ | 228,602 | $ | 266,966 | $ | 266,966 | |||||||||||||||||||||||||||||||
Change in estimate of cash flows, net of charge-offs or recoveries | 11,554 | 1,376 | 3,861 | ||||||||||||||||||||||||||||||||||
Additions due to acquisitions | — | 51,368 | 51,367 | ||||||||||||||||||||||||||||||||||
Other (loan payments, transfers, etc.) | (53,870 | ) | (91,108 | ) | (72,755 | ) | |||||||||||||||||||||||||||||||
Ending balance | $ | 186,286 | $ | 228,602 | $ | 249,439 | |||||||||||||||||||||||||||||||
The following is a summary of changes in the accretable discounts of acquired loans during the nine months ended September 30, 2013, the year ended December 31, 2012 and the nine months ended September 30, 2012. | |||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||||||||||
Balance, January 1 | $ | 16,698 | $ | 29,537 | $ | 29,537 | |||||||||||||||||||||||||||||||
Additions due to acquisitions | — | 9,863 | 9,863 | ||||||||||||||||||||||||||||||||||
Accretion | (36,552 | ) | (45,752 | ) | (36,241 | ) | |||||||||||||||||||||||||||||||
Other activity, net | 50,703 | 23,050 | 16,210 | ||||||||||||||||||||||||||||||||||
Ending balance | $ | 30,849 | $ | 16,698 | $ | 19,369 | |||||||||||||||||||||||||||||||
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. Changes in the FDIC shared-loss receivable for the nine months ended September 30, 2013, for the year ended December 31, 2012 and for the nine months ended September 30, 2012 are as follows: | |||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||||||||||
Balance, January 1 | $ | 159,724 | $ | 242,394 | $ | 242,394 | |||||||||||||||||||||||||||||||
Indemnification asset recorded in acquisitions | — | 52,654 | 52,654 | ||||||||||||||||||||||||||||||||||
Payments received from FDIC | (58,240 | ) | (128,730 | ) | (97,399 | ) | |||||||||||||||||||||||||||||||
Effect of change in expected cash flows on covered assets | (19,721 | ) | (6,594 | ) | 791 | ||||||||||||||||||||||||||||||||
Ending balance | $ | 81,763 | $ | 159,724 | $ | 198,440 | |||||||||||||||||||||||||||||||
Weighted_Average_Shares_Outsta
Weighted Average Shares Outstanding | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Weighted Average Shares Outstanding | ' | ||||||||||||||||
NOTE 6 – 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 Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(Share Data in | (Share Data in | ||||||||||||||||
Thousands) | Thousands) | ||||||||||||||||
Basic shares outstanding | 23,901 | 23,819 | 23,883 | 23,800 | |||||||||||||
Plus: Dilutive effect of ISOs | 62 | 105 | 62 | 105 | |||||||||||||
Plus: Dilutive effect of Restricted grants | 353 | 49 | 353 | 49 | |||||||||||||
Diluted shares outstanding | 24,316 | 23,973 | 24,298 | 23,954 | |||||||||||||
Other_Borrowings
Other Borrowings | 9 Months Ended |
Sep. 30, 2013 | |
Debt Disclosure [Abstract] | ' |
Other Borrowings | ' |
NOTE 7 – OTHER BORROWINGS | |
The Company has, from time to time, utilized certain borrowing arrangements with various financial institutions to fund growth in earning assets or provide additional liquidity when appropriate spreads can be realized. At September 30, 2013 there was $5.0 million in outstanding borrowings with the Company’s correspondent banks. There were no outstanding borrowings with the Company’s correspondent banks at December 31, 2012 and September 30, 2012. The Company’s success with attracting and retaining retail deposits has allowed for very low dependence on more volatile non-deposit funding. |
Commitments
Commitments | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||
Commitments | ' | ||||||||||||
NOTE 8 – 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. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. | |||||||||||||
The contract amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. The Company uses the same credit policies in making commitments and conditional obligations as are used for on-balance-sheet instruments. | |||||||||||||
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. Commitments generally have fixed expiration dates 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 Company issues standby letters of credit, which are conditional commitments issued to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements and expire in decreasing amounts with varying terms. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company holds various assets as collateral supporting those commitments for which collateral is deemed necessary. | |||||||||||||
The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the borrower. Collateral held may include accounts receivable, inventory, property, plant and equipment, residential real estate and income-producing commercial properties. | |||||||||||||
The Company’s commitments to extend credit and standby letters of credit are presented in the following table: | |||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||
2013 | 2012 | 2012 | |||||||||||
Commitments to extend credit | $ | 208,303 | $ | 180,733 | $ | 145,936 | |||||||
Standby letters of credit | $ | 6,954 | $ | 6,788 | $ | 9,367 |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Accumulated Other Comprehensive Income | ' | ||||||||||||
NOTE 9 – 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 interest rate swap derivatives. The following tables present a summary of the accumulated other comprehensive income balances, net of tax, as of September 30, 2013 and 2012. | |||||||||||||
(Dollars in Thousands) | Unrealized | Unrealized | Accumulated | ||||||||||
Gain | Gain | Other | |||||||||||
(Loss) on | (Loss) on | Comprehensive | |||||||||||
Derivatives | Securities | Income (Loss) | |||||||||||
Balance, January 1, 2013 | $ | (23 | ) | $ | 6,630 | $ | 6,607 | ||||||
Reclassification for gains included in net income | — | (111 | ) | (111 | ) | ||||||||
Current year changes | 1,098 | (8,125 | ) | (7,027 | ) | ||||||||
Balance, September 30, 2013 | $ | 1,075 | $ | (1,606 | ) | $ | (531 | ) | |||||
(Dollars in Thousands) | Unrealized | Unrealized | Accumulated | ||||||||||
Gain | Gain | Other | |||||||||||
(Loss) on | (Loss) on | Comprehensive | |||||||||||
Derivatives | Securities | Income (Loss) | |||||||||||
Balance, January 1, 2012 | $ | 856 | $ | 6,440 | $ | 7,296 | |||||||
Reclassification for gains included in net income | — | — | — | ||||||||||
Current year changes | (976 | ) | 1,017 | 41 | |||||||||
Balance, September 30, 2012 | $ | (120 | ) | $ | 7,457 | $ | 7,337 | ||||||
Segment_Reporting
Segment Reporting | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Segment Reporting | ' | ||||||||||||||||||||||||
NOTE 10 – SEGMENT REPORTING | |||||||||||||||||||||||||
The following tables present selected financial information with respect to the Company’s reportable business segments for the three- and nine-month periods ended September 30 2013 and 2012. | |||||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||
Retail | Mortgage | Total | Retail | Mortgage | Total | ||||||||||||||||||||
Banking | Banking | Banking | Banking | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Net interest income | $ | 28,089 | $ | 1,231 | $ | 29,320 | $ | 27,953 | $ | 285 | $ | 28,238 | |||||||||||||
Provision for loan losses | 2,920 | — | 2,920 | 6,540 | — | 6,540 | |||||||||||||||||||
Noninterest income | 7,054 | 5,234 | 12,288 | 6,091 | 3,740 | 9,831 | |||||||||||||||||||
Noninterest expense | |||||||||||||||||||||||||
Salaries and employee benefits | 10,799 | 3,613 | 14,412 | 11,446 | 2,320 | 13,766 | |||||||||||||||||||
Equipment and occupancy expenses | 3,029 | 120 | 3,149 | 3,190 | 150 | 3,340 | |||||||||||||||||||
Data processing and telecommunications expenses | 2,908 | 164 | 30,72 | 2,510 | 89 | 2,599 | |||||||||||||||||||
Other expenses | 7,473 | 643 | 8,116 | 8,706 | 399 | 9,105 | |||||||||||||||||||
Total noninterest expense | 24,209 | 4,540 | 28,749 | 25,852 | 2,958 | 28,810 | |||||||||||||||||||
Income before income tax expense | 8,014 | 1,925 | 9,939 | 1,652 | 1,067 | 2,719 | |||||||||||||||||||
Income tax expense | 2,588 | 674 | 3,262 | 443 | 373 | 816 | |||||||||||||||||||
Net income | 5,426 | 1,251 | 6,677 | 1,209 | 694 | 1,903 | |||||||||||||||||||
Less preferred stock dividends | 443 | — | 443 | 827 | — | 827 | |||||||||||||||||||
Net income available to common shareholders | $ | 4,983 | $ | 1,251 | $ | 6,234 | $ | 382 | $ | 694 | $ | 1,076 | |||||||||||||
Total assets | $ | 2,707,200 | $ | 111,302 | $ | 2,818,502 | $ | 2,947,004 | $ | 2,379 | $ | 2,949,383 | |||||||||||||
Stockholders’ equity | 250,863 | 39,493 | 290,356 | 299,221 | (15 | ) | 299,206 | ||||||||||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||
Retail | Mortgage | Total | Retail | Mortgage | Total | ||||||||||||||||||||
Banking | Banking | Banking | Banking | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Net interest income | $ | 84,372 | $ | 2,762 | $ | 87,134 | $ | 84,243 | $ | 603 | $ | 84,846 | |||||||||||||
Provision for loan losses | 10,008 | — | 10,008 | 26,647 | — | 26,647 | |||||||||||||||||||
Noninterest income | 20,333 | 14,699 | 35,032 | 37,749 | 8,221 | 45,970 | |||||||||||||||||||
Noninterest expense | |||||||||||||||||||||||||
Salaries and employee benefits | 32,314 | 9,285 | 41,599 | 32,435 | 4,902 | 37,337 | |||||||||||||||||||
Equipment and occupancy expenses | 8,575 | 483 | 9,058 | 9,250 | 305 | 9,555 | |||||||||||||||||||
Data processing and telecommunications expenses | 8,013 | 465 | 8,478 | 7,222 | 207 | 7,429 | |||||||||||||||||||
Other expenses | 22,807 | 2,379 | 25,186 | 34,470 | 888 | 35,358 | |||||||||||||||||||
Total noninterest expense | 71,709 | 12,612 | 84,321 | 83,377 | 6,302 | 89,679 | |||||||||||||||||||
Income before income tax expense | 22,988 | 4,849 | 27,837 | 11,968 | 2,522 | 14,490 | |||||||||||||||||||
Income tax expense | 7,500 | 1,697 | 9,197 | 3,845 | 882 | 4,727 | |||||||||||||||||||
Net income | 15,488 | 3,152 | 18,640 | 8,123 | 1,640 | 9,763 | |||||||||||||||||||
Less preferred stock dividends | 1,326 | — | 1,326 | 2,459 | — | 2,459 | |||||||||||||||||||
Net income available to common shareholders | $ | 14,162 | $ | 3,152 | $ | 17,314 | $ | 5,664 | $ | 1,640 | $ | 7,304 | |||||||||||||
Basis_of_Presentation_and_Acco1
Basis of Presentation and Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Newly Adopted Accounting Pronouncements | ' |
Newly Adopted Accounting Pronouncements | |
ASU 2013-11 – Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). ASU 2013-11 requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward. However, if a net operating loss carryforward, a similar tax loss or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments are not expected to have a material impact on the Company’s results of operations, financial position or disclosures. | |
ASU 2013-02 – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”). ASU 2013-02 requires an entity to provide information about the amounts reclassified from accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under United States generally accepted accounting principles to be reclassified to net income in its entirety in the same reporting period. For all other amounts, an entity is required to cross-reference to other disclosures that provide additional details about these amounts. The amendments are effective prospectively for reporting periods beginning after December 15, 2012. It did not have a material effect on the Company’s results of operations, financial position or disclosures. | |
ASU 2012-06 – Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution (“ASU 2012-06”). When an entity recognizes an indemnification asset and subsequently a change in the cash flows expected to be collected on the indemnification asset occurs as a result of a change in the cash flows expected to be collected on the indemnified asset, ASU 2012-06 requires the entity to recognize the change in the measurement of the indemnification asset on the same basis as the indemnified assets. Any amortization of changes in value of the indemnification asset should be limited to the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets. ASU 2012-06 is effective for fiscal years beginning on or after December 15, 2012, and early adoption is permitted. It is to be applied prospectively to any new indemnification assets acquired after the date of adoption and to indemnification assets existing as of the date of adoption arising from a government-assisted acquisition of a financial institution. ASU 2012-06 did not have a material effect on the Company’s results of operations, financial position or disclosures. | |
ASU 2011-04 – Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs (“ASU 2011-04”). ASU 2011-04 generally represents clarifications of Topic 820, but also includes some instances where a particular principle or requirement for measuring fair value or disclosing information about fair value measurements has changed. ASU 2011-04 results in common principles and requirements for measuring fair value and for disclosing information about fair value measurements. ASU 2011-04 was to be applied prospectively and is effective during interim and annual periods beginning after December 15, 2011 for public companies. It did not have a material impact on the Company’s results of operations, financial position or disclosures. | |
ASU 2011-05 – Amendments to Topic 220, Comprehensive Income (“ASU 2011-05”). ASU 2011-05 grants an entity the option to present the total of comprehensive income, the components of net income and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In both choices, an entity is required to present each component of net income along with total net income, each component of other comprehensive income along with a total for other comprehensive income and a total amount for comprehensive income. ASU 2011-05 eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. ASU 2011-05 does not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income. For public entities, ASU 2011-05 was effective for fiscal years, and interim periods within those years, beginning after December 15, 2011, and was to be adopted retrospectively. It did not have a material impact on the Company’s results of operations, financial position or disclosures. | |
ASU 2011-08 – Intangibles – Goodwill and Other (Topic 350) Testing Goodwill for Impairment (“ASU 2011-08”). ASU 2011-08 grants an entity the option to assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. This conclusion can be used as a basis for determining whether it is necessary to perform the two-step goodwill impairment test required in Topic 350. ASU 2011-08 was effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. It did not have a material impact on the Company’s results of operations, financial position or disclosures. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
The fair value of a financial instrument 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 financial instruments. 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 instrument. The accounting standard for disclosures about the fair value of financial instruments 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. | |
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 statement of 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 with borrowers. The mark to market adjustments related to loans held-for-sale and the associated economic hedges are captured in mortgage banking activities. | |
The fair value hierarchy describes three levels of inputs that may be used to measure fair value: | |
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 financial instruments and other accounts recorded based on their fair value: | |
Cash and Due from Banks, Federal Funds Sold and Interest-Bearing Accounts | ' |
Cash and Due From Banks, Federal Funds Sold and Interest-Bearing Accounts: The carrying amount of cash and due from banks, federal funds sold and interest-bearing accounts approximates fair value. | |
Investment Securities Available for Sale | ' |
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 mortgage-backed securities issued by government sponsored enterprises and municipal bonds. 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 | ' |
Other Investments: Federal Home Loan Bank (“FHLB”) stock is included in other investments at its original cost basis, as cost approximates fair value and there is no ready market for such investments. | |
Mortgage Loans Held for Sale | ' |
Mortgage Loans Held for Sale: The fair value of mortgage 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 | ' |
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 expected future 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 loan will not be collected as scheduled. The fair value of impaired loans is determined in accordance with accounting standards and generally results in a specific reserve established through a charge to the provision for loan losses. Losses on impaired loans are charged to the allowance when management believes the uncollectability of a loan is confirmed. Management has determined that the majority of impaired loans are Level 3 assets due to the extensive use of market appraisals. To the extent that market appraisals or other methods do not produce reliable determinations of fair value, these assets are deemed to be Level 3. | |
Other Real Estate Owned | ' |
Other Real Estate Owned: The fair value of other real estate owned (“OREO”) is determined using certified appraisals 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. | |
Covered Assets | ' |
Covered Assets: Covered assets include loans and other real estate owned on which the majority of losses would be covered by loss-sharing agreements with the Federal Deposit Insurance Corporation (the “FDIC”). Management initially valued these assets at fair value using mostly unobservable inputs and, as such, has classified these assets as Level 3. | |
Intangible Assets and Goodwill | ' |
Intangible Assets and Goodwill: 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 three to ten years. Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired in a business combination. Goodwill and other intangible assets deemed to have an indefinite useful life are not amortized but instead are subject to an annual review for impairment. | |
FDIC Loss-Share Receivable | ' |
FDIC Loss-Share Receivable: 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 is impacted by changes in estimated cash flows associated with these loans. | |
Deposits | ' |
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 offered for certificates with similar maturities. | |
Securities Sold under Agreements to Repurchase and Other Borrowings | ' |
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. 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. | |
Subordinated Deferrable Interest Debentures | ' |
Subordinated Deferrable Interest Debentures: The carrying amount of the Company’s variable rate trust preferred securities approximates fair value. | |
Off-Balance-Sheet Instruments | ' |
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 | ' |
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 are 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 September 30, 2013, December 31, 2012 and September 30, 2012, 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. | |
Deteriorated Loans Transferred Policy | ' |
FASB ASC 310 – 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310”), applies to a loan with evidence of deterioration of credit quality since origination, acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. ASC 310 prohibits carrying over or creating an allowance for loan losses upon initial recognition for loans which fall under the scope of this statement. At the acquisition dates, a majority of these loans were valued based on the liquidation value of the underlying collateral because the future cash flows are primarily based on the liquidation of underlying collateral. There was no allowance for credit losses established related to these ASC 310 loans at the acquisition dates, based on the provisions of this statement. Over the life of the acquired loans, the Company continues to estimate cash flows expected to be collected. If the expected cash flows expected to be collected increases, then the Company adjusts the amount of accretable discount recognized on a prospective basis over the loan’s remaining life. If the expected cash flows expected to be collected decreases, then the Company records a provision for loan loss in its consolidated statement of operations. |
Basis_of_Presentation_and_Acco2
Basis of Presentation and Accounting Policies (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||
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 | |||||||||||||||||||||
September 30, 2013 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Loans, net | $ | 1,983,062 | $ | — | $ | 1,561,480 | $ | 461,213 | $ | 2,022,693 | |||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 2,443,421 | — | 2,444,244 | — | 2,444,244 | ||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||
December 31, 2012 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Loans, net | $ | 1,934,754 | $ | — | $ | 1,406,366 | $ | 560,226 | $ | 1,966,592 | |||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 2,624,663 | — | 2,624,883 | — | 2,624,883 | ||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||
September 30, 2012 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Loans, net | $ | 1,960,195 | $ | — | $ | 1,393,115 | $ | 596,671 | $ | 1,989,786 | |||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 2,580,117 | — | 2,581,465 | — | 2,581,465 | ||||||||||||||||
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 September 30, 2013, December 31, 2012 and September 30, 2012 (dollars in thousands): | |||||||||||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||
Fair Value | Quoted Prices | Significant | Significant | ||||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
U.S. government agencies | $ | 13,917 | $ | — | $ | 13,917 | $ | — | |||||||||||||
State, county and municipal securities | 112,939 | 4,460 | 108,479 | — | |||||||||||||||||
Corporate debt securities | 9,738 | — | 7,738 | 2,000 | |||||||||||||||||
Mortgage-backed securities | 175,654 | 9,375 | 166,279 | — | |||||||||||||||||
Mortgage loans held for sale | 69,634 | — | 69,634 | — | |||||||||||||||||
Total recurring assets at fair value | $ | 381,882 | $ | 13,835 | $ | 366,047 | $ | 2,000 | |||||||||||||
Derivative financial instruments | $ | 972 | $ | — | $ | 972 | $ | — | |||||||||||||
Total recurring liabilities at fair value | $ | 972 | $ | — | $ | 972 | $ | — | |||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||
Fair Value | Quoted Prices | Significant | Significant | ||||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
U.S. government agencies | $ | 6,870 | $ | — | $ | 6,870 | $ | — | |||||||||||||
State, county and municipal securities | 114,390 | 4,854 | 109,536 | — | |||||||||||||||||
Corporate debt securities | 10,328 | — | 8,328 | 2,000 | |||||||||||||||||
Mortgage-backed securities | 215,321 | 23,893 | 191,428 | — | |||||||||||||||||
Mortgage loans held for sale | 48,786 | — | 48,786 | — | |||||||||||||||||
Total recurring assets at fair value | $ | 395,695 | $ | 28,747 | $ | 364,948 | $ | 2,000 | |||||||||||||
Derivative financial instruments | $ | 2,978 | $ | — | $ | 2,978 | $ | — | |||||||||||||
Total recurring liabilities at fair value | $ | 2,978 | $ | — | $ | 2,978 | $ | — | |||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
As of September 30, 2012 | |||||||||||||||||||||
Fair Value | Quoted Prices | Significant | Significant | ||||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||||||
Assets | (Level 2) | ||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
U.S. government agencies | $ | 8,895 | $ | — | $ | 8,895 | $ | — | |||||||||||||
State, county and municipal securities | 111,742 | 6,932 | 104,810 | — | |||||||||||||||||
Corporate debt securities | 11,495 | — | 9,495 | 2,000 | |||||||||||||||||
Mortgage-backed securities | 228,919 | 1,965 | 226,954 | — | |||||||||||||||||
Mortgage loans held for sale | 29,021 | — | 29,021 | — | |||||||||||||||||
Total recurring assets at fair value | $ | 390,072 | $ | 8,897 | $ | 379,175 | $ | 2,000 | |||||||||||||
Derivative financial instruments | $ | 3,233 | $ | — | $ | 3,233 | $ | — | |||||||||||||
Total recurring liabilities at fair value | $ | 3,233 | $ | — | $ | 3,233 | $ | — | |||||||||||||
Valuation Methodologies for Instruments Measured at Fair Value on Nonrecurring Basis | ' | ||||||||||||||||||||
The following table is a presentation of the valuation methodologies used for instruments measured at fair value on a nonrecurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy as of September 30, 2013, December 31, 2012 and September 30, 2012 (dollars in thousands): | |||||||||||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Impaired loans carried at fair value | $ | 43,564 | $ | — | $ | — | $ | 43,564 | |||||||||||||
Other real estate owned | 37,978 | — | — | 37,978 | |||||||||||||||||
Covered loans | 417,649 | — | — | 417,649 | |||||||||||||||||
Covered other real estate owned | 52,552 | — | — | 52,552 | |||||||||||||||||
Total non-recurring assets at fair value | $ | 551,743 | $ | — | $ | — | $ | 551,743 | |||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Impaired loans carried at fair value | $ | 52,514 | $ | — | $ | — | $ | 52,514 | |||||||||||||
Other real estate owned | 39,850 | — | — | 39,850 | |||||||||||||||||
Covered loans | 507,712 | — | — | 507,712 | |||||||||||||||||
Covered other real estate owned | 88,273 | — | — | 88,273 | |||||||||||||||||
Total nonrecurring assets at fair value | $ | 688,349 | $ | — | $ | — | $ | 688,349 | |||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
As of September 30, 2012 | |||||||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Impaired loans carried at fair value | $ | 50,437 | $ | — | $ | — | $ | 50,437 | |||||||||||||
Other real estate owned | 37,325 | — | — | 37,325 | |||||||||||||||||
Covered loans | 546,234 | — | — | 546,234 | |||||||||||||||||
Covered other real estate owned | 88,895 | — | — | 88,895 | |||||||||||||||||
Total nonrecurring assets at fair value | $ | 722,891 | $ | — | $ | — | $ | 722,891 | |||||||||||||
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. | |||||||||||||||||||||
Measurements | Fair Value at | Valuation Technique | Unobservable Inputs | Range | |||||||||||||||||
September 30, 2013 | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Nonrecurring: | |||||||||||||||||||||
Impaired loans | $ | 43,564 | Third party appraisals and | Collateral discounts and | 4.00% - 75.00% | ||||||||||||||||
discounted cash flows | discount rates | ||||||||||||||||||||
Other real estate owned | 37,978 | Third party appraisals | Collateral discounts and | 10.00% - 78.00% | |||||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Covered loans | 417,649 | Third party appraisals and | Collateral discounts | 1.75% - 75.00% | |||||||||||||||||
discounted cash flows | Discount rate | ||||||||||||||||||||
Covered real estate owned | 52,552 | Third party appraisals | Collateral discounts and | 10.00% - 84.00% | |||||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Recurring: | |||||||||||||||||||||
Investment securities available for sale | 2,000 | Discounted par values | Credit quality of | 0.00% | |||||||||||||||||
underlying issuer | |||||||||||||||||||||
Schedule of Company's Reconciliation of Level 3 Assets | ' | ||||||||||||||||||||
These transfers are reflected in Ameris’ reconciliation of Level 3 assets below. | |||||||||||||||||||||
Investment | Impaired | Other Real | Covered | Covered | |||||||||||||||||
Securities | Loans | Estate | Loans | Other | |||||||||||||||||
Available | Carried at | Owned | Real Estate | ||||||||||||||||||
for | Fair Value | Owned | |||||||||||||||||||
Sale | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Beginning balance, January 1, 2013 | $ | 2,000 | $ | 52,514 | $ | 39,850 | $ | 507,712 | $ | 88,273 | |||||||||||
Total gains/(losses) included in net income | — | — | (2,214 | ) | — | (3,432 | ) | ||||||||||||||
Purchases, sales, issuances, and settlements, net | — | (621 | ) | (7,987 | ) | (61,338 | ) | (61,014 | ) | ||||||||||||
Transfers in to Level 3 | — | — | — | — | — | ||||||||||||||||
Asset reclassification, within Level 3 | — | (8,329 | ) | 8,329 | (28,725 | ) | 28,725 | ||||||||||||||
Ending balance September 30, 2013 | $ | 2,000 | $ | 43,564 | $ | 37,978 | $ | 417,649 | $ | 52,552 | |||||||||||
Investment | Impaired | Other Real | Covered | Covered | |||||||||||||||||
Securities | Loans | Estate | Loans | Other | |||||||||||||||||
Available | Carried at | Owned | Real Estate | ||||||||||||||||||
for | Fair Value | Owned | |||||||||||||||||||
Sale | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Beginning balance, January 1, 2012 | $ | 2,000 | $ | 70,296 | $ | 46,680 | $ | 571,489 | $ | 78,617 | |||||||||||
Total gains/(losses) included in net income | — | — | (9,048 | ) | — | — | |||||||||||||||
Purchases, sales, issuances, and settlements, net | — | — | (21,008 | ) | 15,281 | (30,258 | ) | ||||||||||||||
Transfers in to Level 3 | — | 842 | — | — | — | ||||||||||||||||
Asset reclassification, within Level 3 | — | (20,701 | ) | 20,701 | (40,536 | ) | 40,536 | ||||||||||||||
Ending balance September 30, 2012 | $ | 2,000 | $ | 50,437 | $ | 37,325 | $ | 546,234 | $ | 88,895 | |||||||||||
Investment_Securities_Tables
Investment Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
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 at September 30, 2013, December 31, 2012 and September 30, 2012 are presented below: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
U. S. government agencies | $ | 14,945 | $ | — | $ | (1,028 | ) | $ | 13,917 | ||||||||||||||||
State, county and municipal securities | 112,643 | 2,331 | (2,035 | ) | 112,939 | ||||||||||||||||||||
Corporate debt securities | 10,314 | 280 | (856 | ) | 9,738 | ||||||||||||||||||||
Mortgage-backed securities | 176,818 | 2,714 | (3,878 | ) | 175,654 | ||||||||||||||||||||
Total securities | $ | 314,720 | $ | 5,325 | $ | (7,797 | ) | $ | 312,248 | ||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
U. S. government agencies | $ | 6,605 | $ | 271 | $ | (6 | ) | $ | 6,870 | ||||||||||||||||
State, county and municipal securities | 109,736 | 4,864 | (210 | ) | 114,390 | ||||||||||||||||||||
Corporate debt securities | 10,545 | 330 | (547 | ) | 10,328 | ||||||||||||||||||||
Mortgage-backed securities | 209,824 | 5,701 | (204 | ) | 215,321 | ||||||||||||||||||||
Total securities | $ | 336,710 | $ | 11,166 | $ | (967 | ) | $ | 346,909 | ||||||||||||||||
September 30, 2012: | |||||||||||||||||||||||||
U. S. government agencies | $ | 8,606 | $ | 289 | $ | — | $ | 8,895 | |||||||||||||||||
State, county and municipal securities | 106,541 | 5,345 | (144 | ) | 111,742 | ||||||||||||||||||||
Corporate debt securities | 11,793 | 262 | (560 | ) | 11,495 | ||||||||||||||||||||
Mortgage-backed securities | 222,641 | 6,562 | (284 | ) | 228,919 | ||||||||||||||||||||
Total securities | $ | 349,581 | $ | 12,458 | $ | (988 | ) | $ | 361,051 | ||||||||||||||||
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 September 30, 2013 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: | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Due in one year or less | $ | 2,214 | $ | 2,229 | |||||||||||||||||||||
Due from one year to five years | 36,699 | 37,826 | |||||||||||||||||||||||
Due from five to ten years | 68,790 | 67,622 | |||||||||||||||||||||||
Due after ten years | 30,199 | 28,917 | |||||||||||||||||||||||
Mortgage-backed securities | 176,818 | 175,654 | |||||||||||||||||||||||
$ | 314,720 | $ | 312,248 | ||||||||||||||||||||||
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 September 30, 2013, December 31, 2012 and September 30, 2012. | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Description of Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
U. S. government agencies | $ | 13,917 | $ | (1,028 | ) | $ | — | $ | — | $ | 13,917 | $ | (1,028 | ) | |||||||||||
State, county and municipal securities | 46,516 | (1,735 | ) | 3,807 | (300 | ) | 50,323 | (2,035 | ) | ||||||||||||||||
Corporate debt securities | — | — | 4,235 | (856 | ) | 4,235 | (856 | ) | |||||||||||||||||
Mortgage-backed securities | 90,639 | (3,878 | ) | — | — | 90,639 | (3,878 | ) | |||||||||||||||||
Total temporarily impaired securities | $ | 151,072 | $ | (6,641 | ) | $ | 8,042 | $ | (1,156 | ) | $ | 159,114 | $ | (7,797 | ) | ||||||||||
December 31, 2012: | |||||||||||||||||||||||||
U. S. government agencies | $ | 4,994 | $ | (6 | ) | $ | — | $ | — | $ | 4,994 | $ | (6 | ) | |||||||||||
State, county and municipal securities | 15,595 | (199 | ) | 505 | (11 | ) | 16,100 | (210 | ) | ||||||||||||||||
Corporate debt securities | — | — | 4,560 | (547 | ) | 4,560 | (547 | ) | |||||||||||||||||
Mortgage-backed securities | 23,951 | (181 | ) | 3,617 | (23 | ) | 27,568 | (204 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 44,540 | $ | (386 | ) | $ | 8,682 | $ | (581 | ) | $ | 53,222 | $ | (967 | ) | ||||||||||
September 30, 2012: | |||||||||||||||||||||||||
U. S. government agencies | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
State, county and municipal securities | 14,653 | (132 | ) | 505 | (12 | ) | 15,158 | (144 | ) | ||||||||||||||||
Corporate debt securities | — | — | 5,551 | (560 | ) | 5,551 | (560 | ) | |||||||||||||||||
Mortgage-backed securities | 32,660 | (267 | ) | 3,434 | (17 | ) | 36,094 | (284 | ) | ||||||||||||||||
Total temporarily impaired securities | $ | 47,313 | $ | (399 | ) | $ | 9,490 | $ | (589 | ) | $ | 56,803 | $ | (988 | ) | ||||||||||
Loans_Tables
Loans (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Schedule of Accounts Notes Loans and Financial Receivables | ' | ||||||||||||||||||||||||||||
Balances within the major loans receivable categories are presented in the following table: | |||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 244,991 | $ | 174,217 | $ | 189,374 | |||||||||||||||||||||||
Real estate – construction and development | 132,277 | 114,199 | 125,315 | ||||||||||||||||||||||||||
Real estate – commercial and farmland | 799,149 | 732,322 | 713,240 | ||||||||||||||||||||||||||
Real estate – residential | 355,920 | 346,480 | 343,332 | ||||||||||||||||||||||||||
Consumer installment | 36,303 | 40,178 | 43,441 | ||||||||||||||||||||||||||
Other | 20,627 | 43,239 | 25,160 | ||||||||||||||||||||||||||
$ | 1,589,267 | $ | 1,450,635 | $ | 1,439,862 | ||||||||||||||||||||||||
Summary of Covered Loans According to Loan Type | ' | ||||||||||||||||||||||||||||
Covered loans are shown below according to loan type as of the end of the periods shown: | |||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 27,768 | $ | 32,606 | $ | 37,167 | |||||||||||||||||||||||
Real estate – construction and development | 50,702 | 70,184 | 73,356 | ||||||||||||||||||||||||||
Real estate – commercial and farmland | 237,086 | 278,506 | 298,903 | ||||||||||||||||||||||||||
Real estate – residential | 101,146 | 125,056 | 135,154 | ||||||||||||||||||||||||||
Consumer installment | 947 | 1,360 | 1,654 | ||||||||||||||||||||||||||
$ | 417,649 | $ | 507,712 | $ | 546,234 | ||||||||||||||||||||||||
Summary of Trouble Debt Restructuring by Loan Class | ' | ||||||||||||||||||||||||||||
The following table presents the amount of troubled debt restructurings by loan class, classified separately as accrual and non-accrual at September 30, 2013, December 31, 2012 and September 30, 2012: | |||||||||||||||||||||||||||||
As of September 30, 2013 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Loan class: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Commercial, financial & agricultural | 4 | $ | 521 | 3 | $ | 533 | |||||||||||||||||||||||
Real estate – construction & development | 8 | 1,926 | 1 | 29 | |||||||||||||||||||||||||
Real estate – commercial & farmland | 16 | 6,693 | 3 | 1,858 | |||||||||||||||||||||||||
Real estate – residential | 35 | 7,871 | 7 | 704 | |||||||||||||||||||||||||
Consumer installment | 1 | 13 | 2 | 26 | |||||||||||||||||||||||||
Total | 64 | $ | 17,024 | 16 | $ | 3,150 | |||||||||||||||||||||||
As of December 31, 2012 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Loan class: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Commercial, financial & agricultural | 5 | $ | 802 | — | $ | — | |||||||||||||||||||||||
Real estate – construction & development | 5 | 1,735 | — | — | |||||||||||||||||||||||||
Real estate – commercial & farmland | 16 | 8,947 | 3 | 4,149 | |||||||||||||||||||||||||
Real estate – residential | 28 | 7,254 | 2 | 1,022 | |||||||||||||||||||||||||
Consumer installment | 1 | 6 | — | — | |||||||||||||||||||||||||
Total | 55 | $ | 18,744 | 5 | $ | 5,171 | |||||||||||||||||||||||
As of September 30, 2012 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Loan class: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Commercial, financial & agricultural | 5 | $ | 804 | — | $ | — | |||||||||||||||||||||||
Real estate – construction & development | 4 | 1,481 | — | — | |||||||||||||||||||||||||
Real estate – commercial & farmland | 15 | 9,540 | 1 | 2,770 | |||||||||||||||||||||||||
Real estate – residential | 27 | 8,068 | 2 | 620 | |||||||||||||||||||||||||
Total | 51 | $ | 19,893 | 3 | $ | 3,390 | |||||||||||||||||||||||
Summary of Troubled Debt Restructuring by Loan Class | ' | ||||||||||||||||||||||||||||
The following table presents the amount of troubled debt restructurings by loan class, classified separately as those currently paying under restructured terms and those that have defaulted under restructured terms at September 30, 2013, December 31, 2012 and September 30, 2012: | |||||||||||||||||||||||||||||
As of September 30, 2013 | Loans Currently Paying | Loans that have Defaulted | |||||||||||||||||||||||||||
Under Restructured | Under Restructured | ||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Loan class: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Commercial, financial & agricultural | 3 | $ | 508 | 4 | $ | 546 | |||||||||||||||||||||||
Real estate – construction & development | 6 | 1,881 | 3 | 74 | |||||||||||||||||||||||||
Real estate – commercial & farmland | 14 | 6,550 | 5 | 2,001 | |||||||||||||||||||||||||
Real estate – residential | 31 | 7,282 | 11 | 1,293 | |||||||||||||||||||||||||
Consumer installment | 2 | 37 | 1 | 2 | |||||||||||||||||||||||||
Total | 56 | $ | 16,258 | 24 | $ | 3,916 | |||||||||||||||||||||||
As of December 31, 2012 | Loans Currently Paying | Loans that have Defaulted | |||||||||||||||||||||||||||
Under Restructured | Under Restructured | ||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Loan class: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Commercial, financial & agricultural | 5 | $ | 802 | — | $ | — | |||||||||||||||||||||||
Real estate – construction & development | 5 | 1,735 | — | — | |||||||||||||||||||||||||
Real estate – commercial & farmland | 16 | 8,947 | 3 | 4,149 | |||||||||||||||||||||||||
Real estate – residential | 28 | 7,254 | 2 | 1,022 | |||||||||||||||||||||||||
Consumer installment | — | — | 1 | 6 | |||||||||||||||||||||||||
Total | 54 | $ | 18,738 | 6 | $ | 5,177 | |||||||||||||||||||||||
As of September 30, 2012 | Loans Currently Paying | Loans that have Defaulted | |||||||||||||||||||||||||||
Under Restructured | Under Restructured | ||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Loan class: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Commercial, financial & agricultural | 5 | $ | 804 | — | $ | — | |||||||||||||||||||||||
Real estate – construction & development | 4 | 1,481 | — | — | |||||||||||||||||||||||||
Real estate – commercial & farmland | 15 | 9,540 | 1 | 2,770 | |||||||||||||||||||||||||
Real estate – residential | 26 | 8,068 | 3 | 620 | |||||||||||||||||||||||||
Total | 50 | $ | 19,893 | 4 | $ | 3,390 | |||||||||||||||||||||||
Summary of Troubled Debt Restructuring by Concessions Made Types | ' | ||||||||||||||||||||||||||||
The following table presents the amount of troubled debt restructurings by types of concessions made, classified separately as accrual and non-accrual at September 30, 2013, December 31, 2012 and September 30, 2012: | |||||||||||||||||||||||||||||
As of September 30, 2013 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Type of concession: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Forbearance of interest | 9 | $ | 2,135 | 2 | $ | 101 | |||||||||||||||||||||||
Forgiveness of principal | 3 | 1,479 | 1 | 145 | |||||||||||||||||||||||||
Payment modification only | 2 | 370 | — | — | |||||||||||||||||||||||||
Rate reduction only | 14 | 7,146 | 2 | 496 | |||||||||||||||||||||||||
Rate reduction, forbearance of interest | 18 | 2,878 | 10 | 2,379 | |||||||||||||||||||||||||
Rate reduction, forbearance of principal | 18 | 3,016 | — | — | |||||||||||||||||||||||||
Rate reduction, payment modification | — | — | 1 | 29 | |||||||||||||||||||||||||
Total | 64 | $ | 17,024 | 16 | $ | 3,150 | |||||||||||||||||||||||
As of December 31, 2012 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Type of concession: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Forbearance of interest | 2 | $ | 1,873 | — | $ | — | |||||||||||||||||||||||
Forgiveness of principal | 3 | 1,518 | 1 | 372 | |||||||||||||||||||||||||
Payment modification only | 2 | 376 | — | — | |||||||||||||||||||||||||
Rate reduction only | 11 | 7,075 | 1 | 177 | |||||||||||||||||||||||||
Rate reduction, forbearance of interest | 18 | 4,061 | 2 | 3,420 | |||||||||||||||||||||||||
Rate reduction, forbearance of principal | 18 | 3,798 | — | — | |||||||||||||||||||||||||
Rate reduction, payment modification | 1 | 43 | 1 | 1,202 | |||||||||||||||||||||||||
Total | 55 | $ | 18,744 | 5 | $ | 5,171 | |||||||||||||||||||||||
As of September 30, 2012 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Type of concession: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Forbearance of interest | 2 | $ | 1,902 | — | $ | — | |||||||||||||||||||||||
Forgiveness of principal | 3 | 1,516 | 1 | 369 | |||||||||||||||||||||||||
Payment modification only | 2 | 1,292 | 1 | 251 | |||||||||||||||||||||||||
Rate reduction only | 10 | 5,889 | — | — | |||||||||||||||||||||||||
Rate reduction, forbearance of interest | 15 | 4,371 | 1 | 2,770 | |||||||||||||||||||||||||
Rate reduction, forbearance of principal | 18 | 4,874 | — | — | |||||||||||||||||||||||||
Rate reduction, payment modification | 1 | 49 | — | — | |||||||||||||||||||||||||
Total | 51 | $ | 19,893 | 3 | $ | 3,390 | |||||||||||||||||||||||
Summary of Troubled Debt Restructurings by Collateral Types | ' | ||||||||||||||||||||||||||||
The following table presents the amount of troubled debt restructurings by collateral types, classified separately as accrual and non-accrual at September 30, 2013, December 31, 2012 and September 30, 2012: | |||||||||||||||||||||||||||||
As of September 30, 2013 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Collateral type: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Warehouse | 3 | $ | 1,065 | 1 | $ | 176 | |||||||||||||||||||||||
Raw land | 3 | 1,337 | 1 | 29 | |||||||||||||||||||||||||
Agricultural land | 2 | 380 | — | — | |||||||||||||||||||||||||
Hotel & motel | 3 | 2,219 | — | — | |||||||||||||||||||||||||
Office | 4 | 1,924 | — | — | |||||||||||||||||||||||||
Retail, including strip centers | 4 | 1,105 | 2 | 1,682 | |||||||||||||||||||||||||
1-4 family residential | 40 | 8,460 | 7 | 704 | |||||||||||||||||||||||||
Life insurance policy | 1 | 250 | — | — | |||||||||||||||||||||||||
Automobile/equipment/inventory | 3 | 36 | 4 | 509 | |||||||||||||||||||||||||
Unsecured | 1 | 248 | 1 | 50 | |||||||||||||||||||||||||
Total | 64 | $ | 17,024 | 16 | $ | 3,150 | |||||||||||||||||||||||
As of December 31, 2012 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Collateral type: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Warehouse | 3 | $ | 1,692 | 1 | $ | 177 | |||||||||||||||||||||||
Raw land | 2 | 1,337 | — | — | |||||||||||||||||||||||||
Hotel & motel | 3 | 2,318 | — | — | |||||||||||||||||||||||||
Office | 4 | 2,105 | 1 | 2,770 | |||||||||||||||||||||||||
Retail, including strip centers | 6 | 2,833 | 1 | 1,202 | |||||||||||||||||||||||||
1-4 family residential | 31 | 7,651 | 2 | 1,022 | |||||||||||||||||||||||||
Life insurance policy | 1 | 250 | — | — | |||||||||||||||||||||||||
Automobile/equipment/inventory | 4 | 508 | — | — | |||||||||||||||||||||||||
Unsecured | 1 | 50 | — | — | |||||||||||||||||||||||||
Total | 55 | $ | 18,744 | 5 | $ | 5,171 | |||||||||||||||||||||||
As of September 30, 2012 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Collateral type: | # | (in thousands) | # | (in thousands) | |||||||||||||||||||||||||
Warehouse | 3 | $ | 1,621 | — | $ | — | |||||||||||||||||||||||
Raw land | 2 | 1,349 | — | — | |||||||||||||||||||||||||
Hotel & motel | 3 | 2,362 | — | — | |||||||||||||||||||||||||
Office | 2 | 1,503 | 1 | 2,770 | |||||||||||||||||||||||||
Retail, including strip centers | 7 | 4,054 | — | — | |||||||||||||||||||||||||
1-4 family residential | 30 | 8,216 | 2 | 620 | |||||||||||||||||||||||||
Inventory | 1 | 450 | — | — | |||||||||||||||||||||||||
Equipment | 1 | 38 | — | — | |||||||||||||||||||||||||
Unsecured | 2 | 300 | — | — | |||||||||||||||||||||||||
Total | 51 | $ | 19,893 | 3 | $ | 3,390 | |||||||||||||||||||||||
Schedule of Allowances for Loan Losses by Portfolio Segment | ' | ||||||||||||||||||||||||||||
The following table details activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2013, the year ended December 31, 2012 and the nine months ended September 30, 2012. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. | |||||||||||||||||||||||||||||
Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Total | ||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | |||||||||||||||||||||||||
agricultural | development | farmland | loans and | ||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Balance, January 1, 2013 | $ | 2,439 | $ | 5,343 | $ | 9,157 | $ | 5,898 | $ | 756 | $ | 23,593 | |||||||||||||||||
Provision for loan losses | 1,011 | 2,127 | 2,632 | 2,966 | 11 | 8,747 | |||||||||||||||||||||||
Loans charged off | (1,216 | ) | (1,598 | ) | (2,873 | ) | (3,430 | ) | (576 | ) | (9,693 | ) | |||||||||||||||||
Recoveries of loans previously charged off | 340 | 88 | 18 | 520 | 241 | 1,207 | |||||||||||||||||||||||
Balance, September 30, 2013 | $ | 2,574 | $ | 5,960 | $ | 8,934 | $ | 5,954 | $ | 432 | $ | 23,854 | |||||||||||||||||
Period-end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 741 | $ | 682 | $ | 1,997 | $ | 1,429 | $ | — | $ | 4,849 | |||||||||||||||||
Loans collectively evaluated for impairment | 1,833 | 5,278 | 6,937 | 4,525 | 432 | 19,005 | |||||||||||||||||||||||
Ending balance | $ | 2,574 | $ | 5,960 | $ | 8,934 | $ | 5,954 | $ | 432 | $ | 23,854 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,657 | $ | 3,524 | $ | 14,605 | $ | 16,919 | $ | — | $ | 38,705 | |||||||||||||||||
Collectively evaluated for impairment | 241,334 | 128,753 | 784,544 | 339,001 | 56,930 | 1,550,562 | |||||||||||||||||||||||
Ending balance | $ | 244,991 | $ | 132,277 | $ | 799,149 | $ | 355,920 | $ | 56,930 | $ | 1,589,267 | |||||||||||||||||
Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Total | ||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | |||||||||||||||||||||||||
agricultural | development | farmland | loans and | ||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Balance, January 1, 2012 | $ | 2,918 | $ | 9,438 | $ | 14,226 | $ | 8,128 | $ | 446 | $ | 35,156 | |||||||||||||||||
Provision for loan losses | 815 | 5,245 | 15,000 | 6,267 | 1,124 | 28,451 | |||||||||||||||||||||||
Loans charged off | (1,451 | ) | (9,380 | ) | (20,551 | ) | (8,722 | ) | (1,059 | ) | (41,163 | ) | |||||||||||||||||
Recoveries of loans previously charged off | 157 | 40 | 482 | 225 | 245 | 1,149 | |||||||||||||||||||||||
Balance, December 31, 2012 | $ | 2,439 | $ | 5,343 | $ | 9,157 | $ | 5,898 | $ | 756 | $ | 23,593 | |||||||||||||||||
Period-end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 659 | $ | 611 | $ | 2,228 | $ | 1,056 | $ | — | $ | 4,554 | |||||||||||||||||
Loans collectively evaluated for impairment | 1,780 | 4,732 | 6,929 | 4,842 | 756 | 19,039 | |||||||||||||||||||||||
Ending balance | $ | 2,439 | $ | 5,343 | $ | 9,157 | $ | 5,898 | $ | 756 | $ | 23,593 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,351 | $ | 7,617 | $ | 21,332 | $ | 13,020 | $ | — | $ | 45,320 | |||||||||||||||||
Collectively evaluated for impairment | 170,866 | 106,582 | 710,990 | 333,460 | 83,417 | 1,405,315 | |||||||||||||||||||||||
Ending balance | $ | 174,217 | $ | 114,199 | $ | 732,322 | $ | 346,480 | $ | 83,417 | $ | 1,450,635 | |||||||||||||||||
Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Total | ||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | |||||||||||||||||||||||||
agricultural | development | farmland | loans and | ||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Balance, January 1, 2012 | $ | 2,918 | $ | 9,438 | $ | 14,226 | $ | 8,128 | $ | 446 | $ | 35,156 | |||||||||||||||||
Provision for loan losses | 677 | 4,954 | 13,087 | 4,936 | 706 | 24,360 | |||||||||||||||||||||||
Loans charged off | (889 | ) | (7,819 | ) | (18,199 | ) | (6,642 | ) | (618 | ) | (34,167 | ) | |||||||||||||||||
Recoveries of loans previously charged off | 101 | 23 | 32 | 199 | 197 | 552 | |||||||||||||||||||||||
Balance, September 30, 2012 | $ | 2,807 | $ | 6,596 | $ | 9,146 | $ | 6,621 | $ | 731 | $ | 25,901 | |||||||||||||||||
Period-end amount allocated to: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 610 | $ | 526 | $ | 2,315 | $ | 2,105 | $ | — | $ | 5,556 | |||||||||||||||||
Loans collectively evaluated for impairment | 2,197 | 6,070 | 6,831 | 4,516 | 731 | 20,345 | |||||||||||||||||||||||
Ending balance | $ | 2,807 | $ | 6,596 | $ | 9,146 | $ | 6,621 | $ | 731 | $ | 25,901 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,748 | $ | 5,510 | $ | 21,552 | $ | 15,178 | $ | — | $ | 44,988 | |||||||||||||||||
Collectively evaluated for impairment | 186,626 | 119,805 | 691,688 | 328,154 | 68,601 | 1,394,874 | |||||||||||||||||||||||
Ending balance | $ | 189,374 | $ | 125,315 | $ | 713,240 | $ | 343,332 | $ | 68,601 | $ | 1,439,862 | |||||||||||||||||
Non-Covered Loan [Member] | ' | ||||||||||||||||||||||||||||
Summary of Financial Receivable Nonaccrual Basis | ' | ||||||||||||||||||||||||||||
The following table presents an analysis of non-covered loans accounted for on a nonaccrual basis: | |||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 4,198 | $ | 4,138 | $ | 4,285 | |||||||||||||||||||||||
Real estate – construction and development | 4,229 | 9,281 | 8,201 | ||||||||||||||||||||||||||
Real estate – commercial and farmland | 9,548 | 11,962 | 11,408 | ||||||||||||||||||||||||||
Real estate – residential | 13,303 | 12,595 | 13,236 | ||||||||||||||||||||||||||
Consumer installment | 442 | 909 | 1,095 | ||||||||||||||||||||||||||
$ | 31,720 | $ | 38,885 | $ | 38,225 | ||||||||||||||||||||||||
Summary of Past Due Financial Receivables | ' | ||||||||||||||||||||||||||||
The following table presents an aging analysis of non-covered loans as of September 30, 2013, December 31, 2012 and September 30, 2012. | |||||||||||||||||||||||||||||
Loans | Loans | Loans 90 | Total | Current | Total | Loans 90 | |||||||||||||||||||||||
30-59 | 60-89 | or More | Loans | Loans | Loans | Days or | |||||||||||||||||||||||
Days Past | Days | Days Past | Past Due | More Past | |||||||||||||||||||||||||
Due | Past Due | Due | Due and | ||||||||||||||||||||||||||
Still | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2013: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 623 | $ | 297 | $ | 4,107 | $ | 5,027 | $ | 239,964 | $ | 244,991 | $ | — | |||||||||||||||
Real estate – construction & development | 1,200 | 794 | 4,229 | 6,223 | 126,054 | 132,277 | — | ||||||||||||||||||||||
Real estate – commercial & farmland | 3,883 | 2,458 | 9,523 | 15,864 | 783,285 | 799,149 | — | ||||||||||||||||||||||
Real estate – residential | 5,515 | 3,531 | 11,818 | 20,864 | 335,056 | 355,920 | — | ||||||||||||||||||||||
Consumer installment loans | 497 | 255 | 327 | 1,079 | 35,224 | 36,303 | — | ||||||||||||||||||||||
Other | — | — | — | — | 20,627 | 20,627 | — | ||||||||||||||||||||||
Total | $ | 11,718 | $ | 7,335 | $ | 30,004 | $ | 49,057 | $ | 1,540,210 | $ | 1,589,267 | $ | — | |||||||||||||||
Loans | Loans | Loans 90 | Total | Current | Total | Loans 90 | |||||||||||||||||||||||
30-59 | 60-89 | or More | Loans | Loans | Loans | Days or | |||||||||||||||||||||||
Days Past | Days | Days Past | Past Due | More Past | |||||||||||||||||||||||||
Due | Past Due | Due | Due and | ||||||||||||||||||||||||||
Still | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of December 30, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 258 | $ | 312 | $ | 3,969 | $ | 4,539 | $ | 169,678 | $ | 174,217 | $ | — | |||||||||||||||
Real estate – construction & development | 347 | 332 | 8,969 | 9,648 | 104,551 | 114,199 | — | ||||||||||||||||||||||
Real estate – commercial & farmland | 2,867 | 2,296 | 9,544 | 14,707 | 717,615 | 732,322 | — | ||||||||||||||||||||||
Real estate – residential | 7,651 | 2,766 | 10,990 | 21,407 | 325,073 | 346,480 | — | ||||||||||||||||||||||
Consumer installment loans | 702 | 391 | 815 | 1,908 | 38,270 | 40,178 | — | ||||||||||||||||||||||
Other | — | — | — | — | 43,239 | 43,239 | — | ||||||||||||||||||||||
Total | $ | 11,825 | $ | 6,097 | $ | 34,287 | $ | 52,209 | $ | 1,398,426 | $ | 1,450,635 | $ | — | |||||||||||||||
Loans | Loans | Loans 90 | Total | Current | Total | Loans 90 | |||||||||||||||||||||||
30-59 | 60-89 | or More | Loans | Loans | Loans | Days or | |||||||||||||||||||||||
Days Past | Days | Days Past | Past Due | More Past | |||||||||||||||||||||||||
Due | Past Due | Due | Due and | ||||||||||||||||||||||||||
Still | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 1,192 | $ | 639 | $ | 3,786 | $ | 5,617 | $ | 183,757 | $ | 189,374 | $ | — | |||||||||||||||
Real estate – construction & development | 518 | 152 | 8,180 | 8,850 | 116,465 | 125,315 | — | ||||||||||||||||||||||
Real estate – commercial & farmland | 3,507 | 812 | 11,402 | 15,721 | 697,519 | 713,240 | — | ||||||||||||||||||||||
Real estate – residential | 7,200 | 2,346 | 12,372 | 21,918 | 321,414 | 343,332 | — | ||||||||||||||||||||||
Consumer installment loans | 687 | 284 | 993 | 1,964 | 41,477 | 43,441 | — | ||||||||||||||||||||||
Other | — | — | — | — | 25,160 | 25,160 | — | ||||||||||||||||||||||
Total | $ | 13,104 | $ | 4,233 | $ | 36,733 | $ | 54,070 | $ | 1,385,792 | $ | 1,439,862 | $ | — | |||||||||||||||
Summary of Impaired Financial Receivables | ' | ||||||||||||||||||||||||||||
The following is a summary of information pertaining to non-covered impaired loans: | |||||||||||||||||||||||||||||
As of and For the Period Ended | |||||||||||||||||||||||||||||
September 30, | December 31, | September 30, | |||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Nonaccrual loans | $ | 31,720 | $ | 38,885 | $ | 38,225 | |||||||||||||||||||||||
Troubled debt restructurings not included above | 17,024 | 18,744 | 19,893 | ||||||||||||||||||||||||||
Total impaired loans | $ | 48,744 | $ | 57,629 | $ | 58,118 | |||||||||||||||||||||||
Impaired loans not requiring a related allowance | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Impaired loans requiring a related allowance | $ | 48,744 | $ | 57,629 | $ | 58,118 | |||||||||||||||||||||||
Allowance related to impaired loans | $ | 5,180 | $ | 5,115 | $ | 7,681 | |||||||||||||||||||||||
Average investment in impaired loans | $ | 53,047 | $ | 70,209 | $ | 73,353 | |||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 468 | $ | 495 | $ | 376 | |||||||||||||||||||||||
Foregone interest income on impaired loans | $ | 388 | $ | 718 | $ | 491 | |||||||||||||||||||||||
The following table presents an analysis of information pertaining to non-covered impaired loans as of September 30, 2013, December 31, 2012 and September 30, 2012. | |||||||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||||||
Balance | Allowance | Allowance | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2013: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 7,401 | $ | — | $ | 4,719 | $ | 4,719 | $ | 820 | $ | 4,900 | |||||||||||||||||
Real estate – construction & development | 14,299 | — | 6,155 | 6,155 | 821 | 8,960 | |||||||||||||||||||||||
Real estate – commercial & farmland | 18,628 | — | 16,241 | 16,241 | 1,999 | 18,079 | |||||||||||||||||||||||
Real estate – residential | 24,701 | — | 21,174 | 21,174 | 1,530 | 20,427 | |||||||||||||||||||||||
Consumer installment loans | 565 | — | 455 | 455 | 10 | 681 | |||||||||||||||||||||||
Total | $ | 65,594 | $ | — | $ | 48,744 | $ | 48,744 | $ | 5,180 | $ | 53,047 | |||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||||||
Balance | Allowance | Allowance | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of December 31, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 8,024 | $ | — | $ | 4,940 | $ | 4,940 | $ | 743 | $ | 4,968 | |||||||||||||||||
Real estate – construction & development | 20,316 | — | 11,016 | 11,016 | 910 | 11,706 | |||||||||||||||||||||||
Real estate – commercial & farmland | 25,076 | — | 20,910 | 20,910 | 2,191 | 30,638 | |||||||||||||||||||||||
Real estate – residential | 24,155 | — | 19,848 | 19,848 | 1,246 | 21,813 | |||||||||||||||||||||||
Consumer installment loans | 1,187 | — | 915 | 915 | 25 | 1,084 | |||||||||||||||||||||||
Total | $ | 78,758 | $ | — | $ | 57,629 | $ | 57,629 | $ | 5,115 | $ | 70,209 | |||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||||||
Balance | Allowance | Allowance | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 8,261 | $ | — | $ | 5,089 | $ | 5,089 | $ | 876 | $ | 4,974 | |||||||||||||||||
Real estate – construction & development | 19,583 | — | 9,682 | 9,682 | 1,253 | 11,879 | |||||||||||||||||||||||
Real estate – commercial & farmland | 25,346 | — | 20,948 | 20,948 | 2,907 | 33,070 | |||||||||||||||||||||||
Real estate – residential | 24,993 | — | 21,304 | 21,304 | 2,616 | 22,303 | |||||||||||||||||||||||
Consumer installment loans | 1,220 | — | 1,095 | 1,095 | 29 | 1,127 | |||||||||||||||||||||||
Total | $ | 79,403 | $ | — | $ | 58,118 | $ | 58,118 | $ | 7,681 | $ | 73,353 | |||||||||||||||||
Summary of Credit Quality Indicate Financial Receivable | ' | ||||||||||||||||||||||||||||
The following table presents the non-covered loan portfolio by risk grade as of September 30, 2013. | |||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment loans | ||||||||||||||||||||||||
agricultural | development | farmland | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
10 | $ | 65,033 | $ | — | $ | 278 | $ | 420 | $ | 7,028 | $ | — | $ | 72,759 | |||||||||||||||
15 | 20,668 | 5,080 | 147,355 | 56,464 | 1,243 | — | 230,810 | ||||||||||||||||||||||
20 | 89,216 | 37,765 | 421,669 | 142,186 | 19,691 | 20,627 | 731,154 | ||||||||||||||||||||||
23 | 97 | 7,085 | 10,054 | 13,275 | 218 | — | 30,729 | ||||||||||||||||||||||
25 | 60,407 | 72,942 | 183,371 | 109,604 | 7,034 | — | 433,358 | ||||||||||||||||||||||
30 | 3,019 | 2,264 | 12,089 | 11,427 | 153 | — | 28,952 | ||||||||||||||||||||||
40 | 6,326 | 7,141 | 24,333 | 22,534 | 936 | — | 61,270 | ||||||||||||||||||||||
50 | 225 | — | — | 10 | — | — | 235 | ||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 244,991 | $ | 132,277 | $ | 799,149 | $ | 355,920 | $ | 36,303 | $ | 20,627 | $ | 1,589,267 | |||||||||||||||
The following table presents the non-covered loan portfolio by risk grade as of December 31, 2012. | |||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment loans | ||||||||||||||||||||||||
agricultural | development | farmland | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
10 | $ | 24,623 | $ | — | $ | 309 | $ | 464 | $ | 7,597 | $ | — | $ | 32,993 | |||||||||||||||
15 | 11,316 | 4,373 | 147,966 | 71,254 | 1,591 | — | 236,500 | ||||||||||||||||||||||
20 | 79,522 | 31,413 | 351,997 | 114,418 | 21,361 | 43,239 | 641,950 | ||||||||||||||||||||||
23 | 42 | 8,521 | 9,012 | 13,788 | 70 | — | 31,433 | ||||||||||||||||||||||
25 | 49,071 | 52,577 | 176,395 | 113,591 | 7,576 | — | 399,210 | ||||||||||||||||||||||
30 | 2,343 | 3,394 | 19,401 | 9,672 | 488 | — | 35,298 | ||||||||||||||||||||||
40 | 7,200 | 13,765 | 27,242 | 23,292 | 1,495 | — | 72,994 | ||||||||||||||||||||||
50 | 100 | 156 | — | 1 | — | — | 257 | ||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 174,217 | $ | 114,199 | $ | 732,322 | $ | 346,480 | $ | 40,178 | $ | 43,239 | $ | 1,450,635 | |||||||||||||||
The following table presents the non-covered loan portfolio by risk grade as of September 30, 2012. | |||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment loans | ||||||||||||||||||||||||
agricultural | development | farmland | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
10 | $ | 26,291 | $ | — | $ | 220 | $ | 411 | $ | 7,887 | $ | — | $ | 34,809 | |||||||||||||||
15 | 11,816 | 4,532 | 152,678 | 74,040 | 1,400 | — | 244,466 | ||||||||||||||||||||||
20 | 80,681 | 33,603 | 324,270 | 105,531 | 23,038 | 25,160 | 592,283 | ||||||||||||||||||||||
23 | 5 | 7,667 | 8,773 | 13,650 | 81 | — | 30,176 | ||||||||||||||||||||||
25 | 62,377 | 59,013 | 184,146 | 113,560 | 8,502 | — | 427,598 | ||||||||||||||||||||||
30 | 1,508 | 7,948 | 14,742 | 10,535 | 745 | — | 35,478 | ||||||||||||||||||||||
40 | 6,436 | 12,396 | 28,411 | 25,583 | 1,780 | — | 74,606 | ||||||||||||||||||||||
50 | 260 | 156 | — | 22 | 8 | — | 446 | ||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 189,374 | $ | 125,315 | $ | 713,240 | $ | 343,332 | $ | 43,441 | $ | 25,160 | $ | 1,439,862 | |||||||||||||||
Covered Loans [Member] | ' | ||||||||||||||||||||||||||||
Summary of Financial Receivable Nonaccrual Basis | ' | ||||||||||||||||||||||||||||
The following table presents an analysis of covered loans accounted for on a nonaccrual basis: | |||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 7,872 | $ | 10,765 | $ | 11,938 | |||||||||||||||||||||||
Real estate – construction and development | 16,582 | 20,027 | 21,971 | ||||||||||||||||||||||||||
Real estate – commercial and farmland | 37,079 | 55,946 | 58,377 | ||||||||||||||||||||||||||
Real estate – residential | 13,028 | 28,672 | 31,189 | ||||||||||||||||||||||||||
Consumer installment | 350 | 302 | 426 | ||||||||||||||||||||||||||
$ | 74,911 | $ | 115,712 | $ | 123,901 | ||||||||||||||||||||||||
Summary of Past Due Financial Receivables | ' | ||||||||||||||||||||||||||||
The following table presents an aging analysis of covered loans as of September 30, 2013, December 31, 2012 and September 30, 2012. | |||||||||||||||||||||||||||||
Loans | Loans | Loans 90 | Total | Current | Total | Loans 90 | |||||||||||||||||||||||
30-59 | 60-89 | or More | Loans | Loans | Loans | Days or | |||||||||||||||||||||||
Days Past | Days | Days Past | Past Due | More Past | |||||||||||||||||||||||||
Due | Past Due | Due | Due and | ||||||||||||||||||||||||||
Still | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2013: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 319 | $ | 50 | $ | 6,695 | $ | 7,064 | $ | 20,704 | $ | 27,768 | $ | — | |||||||||||||||
Real estate – construction & development | 2,831 | 658 | 15,781 | 19,270 | 31,432 | 50,702 | 266 | ||||||||||||||||||||||
Real estate – commercial & farmland | 7,365 | 5,350 | 30,503 | 43,218 | 193,868 | 237,086 | 568 | ||||||||||||||||||||||
Real estate – residential | 2,980 | 1,727 | 11,078 | 15,785 | 85,361 | 101,146 | 823 | ||||||||||||||||||||||
Consumer installment loans | 49 | — | 311 | 360 | 587 | 947 | — | ||||||||||||||||||||||
Total | $ | 13,544 | $ | 7,785 | $ | 64,368 | $ | 85,697 | $ | 331,952 | $ | 417,649 | $ | 1,657 | |||||||||||||||
Loans | Loans | Loans 90 | Total | Current | Total | Loans 90 | |||||||||||||||||||||||
30-59 | 60-89 | or More | Loans | Loans | Loans | Days or | |||||||||||||||||||||||
Days Past | Days | Days Past | Past Due | More Past | |||||||||||||||||||||||||
Due | Past Due | Due | Due and | ||||||||||||||||||||||||||
Still | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of December 30, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 2,390 | $ | 1,105 | $ | 10,612 | $ | 14,107 | $ | 18,499 | $ | 32,606 | $ | 98 | |||||||||||||||
Real estate – construction & development | 1,584 | 2,592 | 19,656 | 23,832 | 46,352 | 70,184 | 1,077 | ||||||||||||||||||||||
Real estate – commercial & farmland | 11,451 | 7,373 | 52,570 | 71,394 | 207,112 | 278,506 | 1,347 | ||||||||||||||||||||||
Real estate – residential | 6,066 | 3,396 | 24,976 | 34,438 | 90,618 | 125,056 | 779 | ||||||||||||||||||||||
Consumer installment loans | 45 | 13 | 258 | 316 | 1,044 | 1,360 | — | ||||||||||||||||||||||
Total | $ | 21,536 | $ | 14,479 | $ | 108,072 | $ | 144,087 | $ | 363,625 | $ | 507,712 | $ | 3,301 | |||||||||||||||
Loans | Loans | Loans 90 | Total | Current | Total | Loans 90 | |||||||||||||||||||||||
30-59 | 60-89 | or More | Loans | Loans | Loans | Days or | |||||||||||||||||||||||
Days Past | Days | Days Past | Past Due | More Past | |||||||||||||||||||||||||
Due | Past Due | Due | Due and | ||||||||||||||||||||||||||
Still | |||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 1,384 | $ | 788 | $ | 11,315 | $ | 13,487 | $ | 23,680 | $ | 37,167 | $ | — | |||||||||||||||
Real estate – construction & development | 3,611 | 1,663 | 22,194 | 27,468 | 45,888 | 73,356 | 2,312 | ||||||||||||||||||||||
Real estate – commercial & farmland | 7,072 | 6,559 | 51,382 | 65,013 | 233,890 | 298,903 | 808 | ||||||||||||||||||||||
Real estate – residential | 4,702 | 3,349 | 28,559 | 36,610 | 98,544 | 135,154 | 1,018 | ||||||||||||||||||||||
Consumer installment loans | 56 | 92 | 255 | 403 | 1,251 | 1,654 | — | ||||||||||||||||||||||
Total | $ | 16,825 | $ | 12,451 | $ | 113,705 | $ | 142,981 | $ | 403,253 | $ | 546,234 | $ | 4,138 | |||||||||||||||
Summary of Impaired Financial Receivables | ' | ||||||||||||||||||||||||||||
The following is a summary of information pertaining to covered impaired loans: | |||||||||||||||||||||||||||||
As of and For the Period Ended | |||||||||||||||||||||||||||||
September 30, | December 31, | September 30, | |||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Nonaccrual loans | $ | 74,911 | $ | 115,712 | $ | 123,901 | |||||||||||||||||||||||
Troubled debt restructurings not included above | 21,184 | 19,194 | 25,926 | ||||||||||||||||||||||||||
Total impaired loans | $ | 96,095 | $ | 134,906 | $ | 149,827 | |||||||||||||||||||||||
Impaired loans not requiring a related allowance | $ | 96,095 | $ | 134,906 | $ | 149,827 | |||||||||||||||||||||||
Impaired loans requiring a related allowance | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Allowance related to impaired loans | $ | — | $ | — | $ | — | |||||||||||||||||||||||
Average investment in impaired loans | $ | 115,689 | $ | 163,825 | $ | 171,055 | |||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 793 | $ | 849 | $ | 1,319 | |||||||||||||||||||||||
Foregone interest income on impaired loans | $ | 286 | $ | 491 | $ | 554 | |||||||||||||||||||||||
The following table presents an analysis of information pertaining to impaired covered loans as of September 30, 2013, December 31, 2012 and September 30, 2012. | |||||||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||||||
Balance | Allowance | Allowance | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2013: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 10,645 | $ | 7,884 | $ | — | $ | 7,884 | $ | — | $ | 9,052 | |||||||||||||||||
Real estate – construction & development | 25,401 | 20,890 | — | 20,890 | — | 22,734 | |||||||||||||||||||||||
Real estate – commercial & farmland | 51,105 | 43,279 | — | 43,279 | — | 54,292 | |||||||||||||||||||||||
Real estate – residential | 28,078 | 23,692 | — | 23,692 | — | 29,316 | |||||||||||||||||||||||
Consumer installment loans | 404 | 350 | — | 350 | — | 295 | |||||||||||||||||||||||
Total | $ | 115,633 | $ | 96,095 | $ | — | $ | 96,095 | $ | — | $ | 115,689 | |||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||||||
Balance | Allowance | Allowance | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of December 31, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 27,060 | $ | 10,802 | $ | — | $ | 10,802 | $ | — | $ | 12,506 | |||||||||||||||||
Real estate – construction & development | 85,279 | 23,236 | — | 23,236 | — | 29,970 | |||||||||||||||||||||||
Real estate – commercial & farmland | 159,493 | 64,231 | — | 64,231 | — | 78,790 | |||||||||||||||||||||||
Real estate – residential | 63,559 | 36,335 | — | 36,335 | — | 42,061 | |||||||||||||||||||||||
Consumer installment loans | 393 | 302 | — | 302 | — | 498 | |||||||||||||||||||||||
Total | $ | 335,784 | $ | 134,906 | $ | — | $ | 134,906 | $ | — | $ | 163,825 | |||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | ||||||||||||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | ||||||||||||||||||||||||
Principal | With No | With | Investment | Investment | |||||||||||||||||||||||||
Balance | Allowance | Allowance | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
As of September 30, 2012: | |||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 17,833 | $ | 11,976 | $ | — | $ | 11,976 | $ | — | $ | 12,932 | |||||||||||||||||
Real estate – construction & development | 34,787 | 23,833 | — | 23,833 | — | 31,653 | |||||||||||||||||||||||
Real estate – commercial & farmland | 98,909 | 72,802 | — | 72,802 | — | 82,430 | |||||||||||||||||||||||
Real estate – residential | 54,020 | 40,790 | — | 40,790 | — | 43,492 | |||||||||||||||||||||||
Consumer installment loans | 890 | 426 | — | 426 | — | 548 | |||||||||||||||||||||||
Total | $ | 206,439 | $ | 149,827 | $ | — | $ | 149,827 | $ | — | $ | 171,055 | |||||||||||||||||
Summary of Credit Quality Indicate Financial Receivable | ' | ||||||||||||||||||||||||||||
The following table presents the covered loan portfolio by risk grade as of September 30, 2013. | |||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment loans | ||||||||||||||||||||||||
agricultural | development | farmland | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
10 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
15 | — | 22 | 1,098 | 641 | — | — | 1,761 | ||||||||||||||||||||||
20 | 2,697 | 11,347 | 34,252 | 22,545 | 208 | — | 71,049 | ||||||||||||||||||||||
23 | 135 | 1,080 | 16,708 | 2,902 | 51 | — | 20,876 | ||||||||||||||||||||||
25 | 7,609 | 7,360 | 108,886 | 39,632 | 250 | — | 163,737 | ||||||||||||||||||||||
30 | 1,485 | 5,505 | 24,790 | 9,196 | 14 | — | 40,990 | ||||||||||||||||||||||
40 | 15,842 | 25,388 | 51,352 | 26,230 | 424 | — | 119,236 | ||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 27,768 | $ | 50,702 | $ | 237,086 | $ | 101,146 | $ | 947 | $ | — | $ | 417,649 | |||||||||||||||
The following table presents the covered loan portfolio by risk grade as of December 31, 2012. | |||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment loans | ||||||||||||||||||||||||
agricultural | development | farmland | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
10 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
15 | — | 39 | 1,640 | 644 | — | — | 2,323 | ||||||||||||||||||||||
20 | 3,997 | 12,194 | 37,098 | 31,337 | 292 | — | 84,918 | ||||||||||||||||||||||
23 | 28 | 1,174 | 9,576 | 2,052 | — | — | 12,830 | ||||||||||||||||||||||
25 | 10,013 | 19,216 | 114,849 | 40,194 | 558 | — | 184,830 | ||||||||||||||||||||||
30 | 4,294 | 7,214 | 38,665 | 11,883 | 50 | — | 62,106 | ||||||||||||||||||||||
40 | 14,274 | 30,347 | 76,678 | 38,946 | 460 | — | 160,705 | ||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 32,606 | $ | 70,184 | $ | 278,506 | $ | 125,056 | $ | 1,360 | $ | — | $ | 507,712 | |||||||||||||||
The following table presents the covered loan portfolio by risk grade as of September 30, 2012. | |||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment loans | ||||||||||||||||||||||||
agricultural | development | farmland | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
10 | $ | — | $ | 8 | $ | — | $ | 853 | $ | — | $ | — | $ | 861 | |||||||||||||||
15 | 91 | 44 | 1,673 | 708 | — | — | 2,516 | ||||||||||||||||||||||
20 | 4,970 | 13,950 | 40,912 | 34,397 | 319 | — | 94,548 | ||||||||||||||||||||||
23 | 30 | 1,226 | 4,638 | 1,889 | — | — | 7,783 | ||||||||||||||||||||||
25 | 11,986 | 18,921 | 130,155 | 44,999 | 721 | — | 206,782 | ||||||||||||||||||||||
30 | 4,063 | 7,494 | 35,764 | 9,016 | 64 | — | 56,401 | ||||||||||||||||||||||
40 | 16,027 | 31,713 | 85,761 | 43,292 | 550 | — | 177,343 | ||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||
Total | $ | 37,167 | $ | 73,356 | $ | 298,903 | $ | 135,154 | $ | 1,654 | $ | — | $ | 546,234 | |||||||||||||||
Assets_Acquired_in_FDICAssiste1
Assets Acquired in FDIC-Assisted Acquisitions (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||
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 September 30, 2013, December 31, 2012 and September 30, 2012 and their origin: | |||||||||||||||||||||||||||||||||||||
Covered | Less: | Less: | Total | OREO | Less: | Total | Total | FDIC | |||||||||||||||||||||||||||||
loans | Credit risk | Liquidity | covered | Fair value | covered | covered | indemnification | ||||||||||||||||||||||||||||||
adjustments | and rate | loans | adjustments | OREO | assets | asset | |||||||||||||||||||||||||||||||
adjustments | |||||||||||||||||||||||||||||||||||||
As of September 30, 2013: | (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||
AUB | $ | 19,336 | $ | 915 | $ | — | $ | 18,421 | $ | 3,338 | $ | 3 | $ | 3,335 | $ | 21,756 | $ | 3,704 | |||||||||||||||||||
USB | 21,168 | 1,665 | — | 19,503 | 3,066 | 139 | 2,927 | 22,430 | 2,796 | ||||||||||||||||||||||||||||
SCB | 35,555 | 1,902 | — | 33,653 | 5,348 | 429 | 4,919 | 38,572 | 4,020 | ||||||||||||||||||||||||||||
FBJ | 27,222 | 3,965 | — | 23,257 | 1,582 | 170 | 1,412 | 24,669 | 4,990 | ||||||||||||||||||||||||||||
DBT | 116,685 | 21,739 | — | 94,946 | 19,720 | 1,639 | 18,081 | 113,027 | 23,955 | ||||||||||||||||||||||||||||
TBC | 35,588 | 2,519 | 54 | 33,015 | 5,912 | 843 | 5,069 | 38,084 | 4,315 | ||||||||||||||||||||||||||||
HTB | 70,156 | 8,232 | 41 | 61,883 | 6,998 | 2,445 | 4,553 | 66,436 | 11,065 | ||||||||||||||||||||||||||||
OGB | 63,794 | 6,658 | 108 | 57,028 | 9,921 | 3,918 | 6,003 | 63,031 | 9,458 | ||||||||||||||||||||||||||||
CBG | 92,755 | 16,712 | 100 | 75,943 | 8,299 | 2,046 | 6,253 | 82,196 | 17,460 | ||||||||||||||||||||||||||||
Total | $ | 482,259 | $ | 64,307 | $ | 303 | $ | 417,649 | $ | 64,184 | $ | 11,632 | $ | 52,552 | $ | 470,201 | $ | 81,763 | |||||||||||||||||||
Covered | Less: | Less: | Total | OREO | Less: | Total | Total | FDIC | |||||||||||||||||||||||||||||
loans | Credit risk | Liquidity | covered | Fair value | covered | covered | indemnification | ||||||||||||||||||||||||||||||
adjustments | and rate | loans | adjustments | OREO | assets | asset | |||||||||||||||||||||||||||||||
adjustments | |||||||||||||||||||||||||||||||||||||
As of December 31, 2012: | (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||
AUB | $ | 27,169 | $ | 2,481 | $ | — | $ | 24,688 | $ | 10,636 | $ | 102 | $ | 10,534 | $ | 35,222 | $ | 2,905 | |||||||||||||||||||
USB | 27,286 | 4,320 | — | 22,966 | 7,087 | 99 | 6,988 | 29,954 | 6,619 | ||||||||||||||||||||||||||||
SCB | 41,389 | 3,285 | — | 38,104 | 10,686 | 654 | 10,032 | 48,136 | 6,133 | ||||||||||||||||||||||||||||
FBJ | 32,574 | 6,204 | 27 | 26,343 | 3,260 | 526 | 2,734 | 29,077 | 6,589 | ||||||||||||||||||||||||||||
DBT | 169,527 | 41,631 | 207 | 127,689 | 30,395 | 2,160 | 28,235 | 155,924 | 47,012 | ||||||||||||||||||||||||||||
TBC | 46,796 | 4,979 | 173 | 41,644 | 11,089 | 1,381 | 9,708 | 51,352 | 8,073 | ||||||||||||||||||||||||||||
HTB | 90,602 | 16,072 | 52 | 74,478 | 13,980 | 4,954 | 9,026 | 83,504 | 20,020 | ||||||||||||||||||||||||||||
OGB | 81,908 | 17,127 | 136 | 64,645 | 9,168 | 4,078 | 5,090 | 69,735 | 16,871 | ||||||||||||||||||||||||||||
CBG | 124,200 | 36,884 | 161 | 87,155 | 9,046 | 3,120 | 5,926 | 93,081 | 45,502 | ||||||||||||||||||||||||||||
Total | $ | 641,451 | $ | 132,983 | $ | 756 | $ | 507,712 | $ | 105,347 | $ | 17,074 | $ | 88,273 | $ | 595,985 | $ | 159,724 | |||||||||||||||||||
Covered | Less: | Less: | Total | OREO | Less: | Total | Total | FDIC | |||||||||||||||||||||||||||||
loans | Credit risk | Liquidity | covered | Fair value | covered | covered | indemnification | ||||||||||||||||||||||||||||||
adjustments | and rate | loans | adjustments | OREO | assets | asset | |||||||||||||||||||||||||||||||
adjustments | |||||||||||||||||||||||||||||||||||||
As of September 30, 2012: | (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||
AUB | $ | 28,955 | $ | 2,532 | $ | — | $ | 26,423 | $ | 10,342 | $ | — | $ | 10,342 | $ | 36,765 | $ | 3,256 | |||||||||||||||||||
USB | 33,145 | 5,036 | — | 28,109 | 7,641 | 99 | 7,542 | 35,651 | 8,408 | ||||||||||||||||||||||||||||
SCB | 44,340 | 3,892 | — | 40,448 | 10,464 | 646 | 9,818 | 50,266 | 6,130 | ||||||||||||||||||||||||||||
FBJ | 33,312 | 6,299 | 43 | 26,970 | 3,407 | 572 | 2,835 | 29,805 | 6,731 | ||||||||||||||||||||||||||||
DBT | 186,815 | 47,598 | 331 | 138,886 | 33,404 | 2,798 | 30,606 | 169,492 | 63,789 | ||||||||||||||||||||||||||||
TBC | 51,084 | 5,790 | 212 | 45,082 | 10,110 | 1,533 | 8,577 | 53,659 | 15,559 | ||||||||||||||||||||||||||||
HTB | 95,904 | 18,727 | 56 | 77,121 | 15,219 | 5,766 | 9,453 | 86,574 | 23,698 | ||||||||||||||||||||||||||||
OGB | 86,091 | 18,719 | 146 | 67,226 | 7,874 | 3,663 | 4,211 | 71,437 | 21,419 | ||||||||||||||||||||||||||||
CBG | 139,583 | 43,406 | 208 | 95,969 | 8,518 | 3,007 | 5,511 | 101,480 | 49,450 | ||||||||||||||||||||||||||||
Total | $ | 699,229 | $ | 151,999 | $ | 996 | $ | 546,234 | $ | 106,979 | $ | 18,084 | $ | 88,895 | $ | 635,129 | $ | 198,440 | |||||||||||||||||||
Loan-by-Loan Basis Performance of Fair Value Adjustments | ' | ||||||||||||||||||||||||||||||||||||
The adjustments to fair value are performed on a loan-by-loan basis and have resulted in the following: | |||||||||||||||||||||||||||||||||||||
Total Amounts | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||
Adjustments needed where the Company’s initial estimate of cash flows were underestimated: (recorded with a reclassification from non-accretable difference to accretable discount) | $ | 50,703 | $ | 23,050 | $ | 16,210 | |||||||||||||||||||||||||||||||
Adjustments needed where the Company’s initial estimate of cash flows were overstated: (recorded through a provision for loan losses) | 6,305 | 13,190 | 11,435 | ||||||||||||||||||||||||||||||||||
Amounts reflected in the Company’s Statement of Operations | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||
Adjustments needed where the Company’s initial estimate of cash flows were underestimated: (recorded with a reclassification from non-accretable difference to accretable discount) | $ | 10,141 | $ | 4,610 | $ | 3,242 | |||||||||||||||||||||||||||||||
Adjustments needed where the Company’s initial estimate of cash flows were overstated: (recorded through a provision for loan losses) | 1,261 | 2,638 | 2,287 | ||||||||||||||||||||||||||||||||||
Schedule of Changes in Accretable Discount Related Acquired Loan | ' | ||||||||||||||||||||||||||||||||||||
The following is a summary of changes in the accretable discounts of acquired loans during the nine months ended September 30, 2013, the year ended December 31, 2012 and the nine months ended September 30, 2012. | |||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||||||||||
Balance, January 1 | $ | 16,698 | $ | 29,537 | $ | 29,537 | |||||||||||||||||||||||||||||||
Additions due to acquisitions | — | 9,863 | 9,863 | ||||||||||||||||||||||||||||||||||
Accretion | (36,552 | ) | (45,752 | ) | (36,241 | ) | |||||||||||||||||||||||||||||||
Other activity, net | 50,703 | 23,050 | 16,210 | ||||||||||||||||||||||||||||||||||
Ending balance | $ | 30,849 | $ | 16,698 | $ | 19,369 | |||||||||||||||||||||||||||||||
Changes in FDIC Shared Loss Receivable | ' | ||||||||||||||||||||||||||||||||||||
Changes in the FDIC shared-loss receivable for the nine months ended September 30, 2013, for the year ended December 31, 2012 and for the nine months ended September 30, 2012 are as follows: | |||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||||||||||
Balance, January 1 | $ | 159,724 | $ | 242,394 | $ | 242,394 | |||||||||||||||||||||||||||||||
Indemnification asset recorded in acquisitions | — | 52,654 | 52,654 | ||||||||||||||||||||||||||||||||||
Payments received from FDIC | (58,240 | ) | (128,730 | ) | (97,399 | ) | |||||||||||||||||||||||||||||||
Effect of change in expected cash flows on covered assets | (19,721 | ) | (6,594 | ) | 791 | ||||||||||||||||||||||||||||||||
Ending balance | $ | 81,763 | $ | 159,724 | $ | 198,440 | |||||||||||||||||||||||||||||||
Loans with Deterioration of Credit Quality [Member] | ' | ||||||||||||||||||||||||||||||||||||
Rollforward of Acquired Loans Deterioration of Credit Quality | ' | ||||||||||||||||||||||||||||||||||||
A rollforward of acquired loans with deterioration of credit quality for the nine months ended September 30, 2013, the year ended December 31, 2012 and the nine months ended September 30, 2012 is shown below: | |||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||||||||||
Balance, January 1 | $ | 282,737 | $ | 307,790 | $ | 307,790 | |||||||||||||||||||||||||||||||
Change in estimate of cash flows, net of charge-offs or recoveries | 30,371 | (17,712 | ) | (7,119 | ) | ||||||||||||||||||||||||||||||||
Additions due to acquisitions | — | 73,414 | 73,414 | ||||||||||||||||||||||||||||||||||
Other (loan payments, transfers, etc.) | (81,519 | ) | (80,755 | ) | (70,402 | ) | |||||||||||||||||||||||||||||||
Ending balance | $ | 231,589 | $ | 282,737 | $ | 303,683 | |||||||||||||||||||||||||||||||
Loans without Deterioration of Credit Quality [Member] | ' | ||||||||||||||||||||||||||||||||||||
Rollforward of Acquired Loans Deterioration of Credit Quality | ' | ||||||||||||||||||||||||||||||||||||
A rollforward of acquired loans without deterioration of credit quality for the nine months ended September 30, 2013, the year ended December 31, 2012 and the nine months ended September 30, 2012 is shown below: | |||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | |||||||||||||||||||||||||||||||||||
Balance, January 1 | $ | 228,602 | $ | 266,966 | $ | 266,966 | |||||||||||||||||||||||||||||||
Change in estimate of cash flows, net of charge-offs or recoveries | 11,554 | 1,376 | 3,861 | ||||||||||||||||||||||||||||||||||
Additions due to acquisitions | — | 51,368 | 51,367 | ||||||||||||||||||||||||||||||||||
Other (loan payments, transfers, etc.) | (53,870 | ) | (91,108 | ) | (72,755 | ) | |||||||||||||||||||||||||||||||
Ending balance | $ | 186,286 | $ | 228,602 | $ | 249,439 | |||||||||||||||||||||||||||||||
Weighted_Average_Shares_Outsta1
Weighted Average Shares Outstanding (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
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 Nine Months | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(Share Data in | (Share Data in | ||||||||||||||||
Thousands) | Thousands) | ||||||||||||||||
Basic shares outstanding | 23,901 | 23,819 | 23,883 | 23,800 | |||||||||||||
Plus: Dilutive effect of ISOs | 62 | 105 | 62 | 105 | |||||||||||||
Plus: Dilutive effect of Restricted grants | 353 | 49 | 353 | 49 | |||||||||||||
Diluted shares outstanding | 24,316 | 23,973 | 24,298 | 23,954 | |||||||||||||
Commitments_Tables
Commitments (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||
Summary of Commitments to Extend Credit and Standby Letters of Credit | ' | ||||||||||||
The Company’s commitments to extend credit and standby letters of credit are presented in the following table: | |||||||||||||
(Dollars in Thousands) | September 30, | December 31, | September 30, | ||||||||||
2013 | 2012 | 2012 | |||||||||||
Commitments to extend credit | $ | 208,303 | $ | 180,733 | $ | 145,936 | |||||||
Standby letters of credit | $ | 6,954 | $ | 6,788 | $ | 9,367 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Text Block [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 September 30, 2013 and 2012. | |||||||||||||
(Dollars in Thousands) | Unrealized | Unrealized | Accumulated | ||||||||||
Gain | Gain | Other | |||||||||||
(Loss) on | (Loss) on | Comprehensive | |||||||||||
Derivatives | Securities | Income (Loss) | |||||||||||
Balance, January 1, 2013 | $ | (23 | ) | $ | 6,630 | $ | 6,607 | ||||||
Reclassification for gains included in net income | — | (111 | ) | (111 | ) | ||||||||
Current year changes | 1,098 | (8,125 | ) | (7,027 | ) | ||||||||
Balance, September 30, 2013 | $ | 1,075 | $ | (1,606 | ) | $ | (531 | ) | |||||
(Dollars in Thousands) | Unrealized | Unrealized | Accumulated | ||||||||||
Gain | Gain | Other | |||||||||||
(Loss) on | (Loss) on | Comprehensive | |||||||||||
Derivatives | Securities | Income (Loss) | |||||||||||
Balance, January 1, 2012 | $ | 856 | $ | 6,440 | $ | 7,296 | |||||||
Reclassification for gains included in net income | — | — | — | ||||||||||
Current year changes | (976 | ) | 1,017 | 41 | |||||||||
Balance, September 30, 2012 | $ | (120 | ) | $ | 7,457 | $ | 7,337 | ||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
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- and nine-month periods ended September 30 2013 and 2012. | |||||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||
Retail | Mortgage | Total | Retail | Mortgage | Total | ||||||||||||||||||||
Banking | Banking | Banking | Banking | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Net interest income | $ | 28,089 | $ | 1,231 | $ | 29,320 | $ | 27,953 | $ | 285 | $ | 28,238 | |||||||||||||
Provision for loan losses | 2,920 | — | 2,920 | 6,540 | — | 6,540 | |||||||||||||||||||
Noninterest income | 7,054 | 5,234 | 12,288 | 6,091 | 3,740 | 9,831 | |||||||||||||||||||
Noninterest expense | |||||||||||||||||||||||||
Salaries and employee benefits | 10,799 | 3,613 | 14,412 | 11,446 | 2,320 | 13,766 | |||||||||||||||||||
Equipment and occupancy expenses | 3,029 | 120 | 3,149 | 3,190 | 150 | 3,340 | |||||||||||||||||||
Data processing and telecommunications expenses | 2,908 | 164 | 30,72 | 2,510 | 89 | 2,599 | |||||||||||||||||||
Other expenses | 7,473 | 643 | 8,116 | 8,706 | 399 | 9,105 | |||||||||||||||||||
Total noninterest expense | 24,209 | 4,540 | 28,749 | 25,852 | 2,958 | 28,810 | |||||||||||||||||||
Income before income tax expense | 8,014 | 1,925 | 9,939 | 1,652 | 1,067 | 2,719 | |||||||||||||||||||
Income tax expense | 2,588 | 674 | 3,262 | 443 | 373 | 816 | |||||||||||||||||||
Net income | 5,426 | 1,251 | 6,677 | 1,209 | 694 | 1,903 | |||||||||||||||||||
Less preferred stock dividends | 443 | — | 443 | 827 | — | 827 | |||||||||||||||||||
Net income available to common shareholders | $ | 4,983 | $ | 1,251 | $ | 6,234 | $ | 382 | $ | 694 | $ | 1,076 | |||||||||||||
Total assets | $ | 2,707,200 | $ | 111,302 | $ | 2,818,502 | $ | 2,947,004 | $ | 2,379 | $ | 2,949,383 | |||||||||||||
Stockholders’ equity | 250,863 | 39,493 | 290,356 | 299,221 | (15 | ) | 299,206 | ||||||||||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||
Retail | Mortgage | Total | Retail | Mortgage | Total | ||||||||||||||||||||
Banking | Banking | Banking | Banking | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Net interest income | $ | 84,372 | $ | 2,762 | $ | 87,134 | $ | 84,243 | $ | 603 | $ | 84,846 | |||||||||||||
Provision for loan losses | 10,008 | — | 10,008 | 26,647 | — | 26,647 | |||||||||||||||||||
Noninterest income | 20,333 | 14,699 | 35,032 | 37,749 | 8,221 | 45,970 | |||||||||||||||||||
Noninterest expense | |||||||||||||||||||||||||
Salaries and employee benefits | 32,314 | 9,285 | 41,599 | 32,435 | 4,902 | 37,337 | |||||||||||||||||||
Equipment and occupancy expenses | 8,575 | 483 | 9,058 | 9,250 | 305 | 9,555 | |||||||||||||||||||
Data processing and telecommunications expenses | 8,013 | 465 | 8,478 | 7,222 | 207 | 7,429 | |||||||||||||||||||
Other expenses | 22,807 | 2,379 | 25,186 | 34,470 | 888 | 35,358 | |||||||||||||||||||
Total noninterest expense | 71,709 | 12,612 | 84,321 | 83,377 | 6,302 | 89,679 | |||||||||||||||||||
Income before income tax expense | 22,988 | 4,849 | 27,837 | 11,968 | 2,522 | 14,490 | |||||||||||||||||||
Income tax expense | 7,500 | 1,697 | 9,197 | 3,845 | 882 | 4,727 | |||||||||||||||||||
Net income | 15,488 | 3,152 | 18,640 | 8,123 | 1,640 | 9,763 | |||||||||||||||||||
Less preferred stock dividends | 1,326 | — | 1,326 | 2,459 | — | 2,459 | |||||||||||||||||||
Net income available to common shareholders | $ | 14,162 | $ | 3,152 | $ | 17,314 | $ | 5,664 | $ | 1,640 | $ | 7,304 | |||||||||||||
Basis_of_Presentation_and_Acco3
Basis of Presentation and Accounting Policies - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Basis Of Presentation [Line Items] | ' |
Number of branches operated | 57 |
Minimum [Member] | ' |
Basis Of Presentation [Line Items] | ' |
Intangible assets amortized over an estimated useful life | '3 years |
Maximum [Member] | ' |
Basis Of Presentation [Line Items] | ' |
Intangible assets amortized over an estimated useful life | '10 years |
Basis_of_Presentation_and_Acco4
Basis of Presentation and Accounting Policies - Carrying Amount and Estimated Fair Value of Financial Instruments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Financial assets: | ' | ' | ' |
Loans, net | $2,022,693 | $1,966,592 | $1,989,786 |
Financial liabilities: | ' | ' | ' |
Deposits | 2,444,244 | 2,624,883 | 2,581,465 |
Carrying Amount [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Loans, net | 1,983,062 | 1,934,754 | 1,960,195 |
Financial liabilities: | ' | ' | ' |
Deposits | 2,443,421 | 2,624,663 | 2,580,117 |
Level 1 [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Loans, net | ' | ' | ' |
Financial liabilities: | ' | ' | ' |
Deposits | ' | ' | ' |
Level 2 [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Loans, net | 1,561,480 | 1,406,366 | 1,393,115 |
Financial liabilities: | ' | ' | ' |
Deposits | 2,444,244 | 2,624,883 | 2,581,465 |
Level 3 [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Loans, net | $461,213 | $560,226 | $596,671 |
Basis_of_Presentation_and_Acco5
Basis of Presentation and Accounting Policies - Fair Value Measurements of Assets and Liabilities Measured on Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | $381,882 | $395,695 | $390,072 |
Recurring liabilities at fair value | 972 | 2,978 | 3,233 |
U.S. Government Agencies [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 13,917 | 6,870 | 8,895 |
State, County and Municipal Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 112,939 | 114,390 | 111,742 |
Corporate Debt Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 9,738 | 10,328 | 11,495 |
Mortgage-Backed Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 175,654 | 215,321 | 228,919 |
Mortgage Loans Held for Sale [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 69,634 | 48,786 | 29,021 |
Derivative Financial Instruments [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring liabilities at fair value | 972 | 2,978 | 3,233 |
Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 13,835 | 28,747 | 8,897 |
Level 1 [Member] | State, County and Municipal Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 4,460 | 4,854 | 6,932 |
Level 1 [Member] | Mortgage-Backed Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 9,375 | 23,893 | 1,965 |
Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 366,047 | 364,948 | 379,175 |
Recurring liabilities at fair value | 972 | 2,978 | 3,233 |
Level 2 [Member] | U.S. Government Agencies [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 13,917 | 6,870 | 8,895 |
Level 2 [Member] | State, County and Municipal Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 108,479 | 109,536 | 104,810 |
Level 2 [Member] | Corporate Debt Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 7,738 | 8,328 | 9,495 |
Level 2 [Member] | Mortgage-Backed Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 166,279 | 191,428 | 226,954 |
Level 2 [Member] | Mortgage Loans Held for Sale [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 69,634 | 48,786 | 29,021 |
Level 2 [Member] | Derivative Financial Instruments [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring liabilities at fair value | 972 | 2,978 | 3,233 |
Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | 2,000 | 2,000 | 2,000 |
Level 3 [Member] | Corporate Debt Securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Recurring assets at fair value | $2,000 | $2,000 | $2,000 |
Basis_of_Presentation_and_Acco6
Basis of Presentation and Accounting Policies - Valuation Methodologies for Instruments Measured at Fair Value on Nonrecurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | $551,743 | $688,349 | $722,891 |
Impaired Loans Carried at Fair Value [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | 43,564 | 52,514 | 50,437 |
Other Real Estate Owned [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | 37,978 | 39,850 | 37,325 |
Covered Loans [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | 417,649 | 507,712 | 546,234 |
Covered Other Real Estate Owned [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | 52,552 | 88,273 | 88,895 |
Level 1 [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | ' | ' | ' |
Level 1 [Member] | Impaired Loans Carried at Fair Value [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | ' | ' | ' |
Level 1 [Member] | Other Real Estate Owned [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | ' | ' | ' |
Level 1 [Member] | Covered Loans [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | ' | ' | ' |
Level 1 [Member] | Covered Other Real Estate Owned [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | ' | ' | ' |
Level 2 [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | ' | ' | ' |
Level 2 [Member] | Impaired Loans Carried at Fair Value [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | ' | ' | ' |
Level 2 [Member] | Other Real Estate Owned [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | ' | ' | ' |
Level 2 [Member] | Covered Loans [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | ' | ' | ' |
Level 2 [Member] | Covered Other Real Estate Owned [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | ' | ' | ' |
Level 3 [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | 551,743 | 688,349 | 722,891 |
Level 3 [Member] | Impaired Loans Carried at Fair Value [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | 43,564 | 52,514 | 50,437 |
Level 3 [Member] | Other Real Estate Owned [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | 37,978 | 39,850 | 37,325 |
Level 3 [Member] | Covered Loans [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | 417,649 | 507,712 | 546,234 |
Level 3 [Member] | Covered Other Real Estate Owned [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Nonrecurring assets at fair value | $52,552 | $88,273 | $88,895 |
Basic_of_Presention_and_Accoun
Basic of Presention and Accounting Policies - Summary of Significant Unobservable Inputs Used in Fair Value Measurement of Level 3 Assets and Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Covered Other Real Estate Owned [Member] | Covered Other Real Estate Owned [Member] | Covered Other Real Estate Owned [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |||
Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Covered Other Real Estate Owned [Member] | Covered Other Real Estate Owned [Member] | Covered Other Real Estate Owned [Member] | Fair Value Measurements on a Nonrecurring Basis [Member] | Fair Value Measurements on a Nonrecurring Basis [Member] | Fair Value Measurements on a Nonrecurring Basis [Member] | Fair Value Measurements on a Nonrecurring Basis [Member] | Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | |||||||||||||
Impaired Loans [Member] | Other Real Estate Owned [Member] | Covered Loans [Member] | Covered Other Real Estate Owned [Member] | Fair Value Measurements on a Nonrecurring Basis [Member] | Fair Value Measurements on a Nonrecurring Basis [Member] | Fair Value Measurements on a Nonrecurring Basis [Member] | Fair Value Measurements on a Nonrecurring Basis [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value Measurements on a Nonrecurring Basis [Member] | Fair Value Measurements on a Nonrecurring Basis [Member] | Fair Value Measurements on a Nonrecurring Basis [Member] | Fair Value Measurements on a Nonrecurring Basis [Member] | Fair Value, Measurements, Recurring [Member] | ||||||||||||||||||||
Impaired Loans [Member] | Other Real Estate Owned [Member] | Covered Loans [Member] | Covered Other Real Estate Owned [Member] | Impaired Loans [Member] | Other Real Estate Owned [Member] | Covered Loans [Member] | Covered Other Real Estate Owned [Member] | ||||||||||||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Disclosure, Nonrecurring | $551,743 | $688,349 | $722,891 | $37,978 | $39,850 | $37,325 | $52,552 | $88,273 | $88,895 | $551,743 | $688,349 | $722,891 | $37,978 | $39,850 | $37,325 | $52,552 | $88,273 | $88,895 | $43,564 | $37,978 | $417,649 | $52,552 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment securities available for sale, Recurring | $381,882 | $395,695 | $390,072 | ' | ' | ' | ' | ' | ' | $2,000 | $2,000 | $2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Valuation Technique | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Third party appraisals and discounted cash flows | 'Third party appraisals | 'Third party appraisals and discounted cash flows | 'Third party appraisals | 'Discounted par values | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value inputs discount rate range | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | 10.00% | 1.75% | 10.00% | 0.00% | 75.00% | 78.00% | 75.00% | 84.00% | 0.00% |
Basis_of_Presentation_and_Acco7
Basis of Presentation and Accounting Policies - Schedule of Company's Reconciliation of Level 3 Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | Investment Securities Available for Sale [Member] | Investment Securities Available for Sale [Member] | Investment Securities Available for Sale [Member] | Investment Securities Available for Sale [Member] | Impaired Loans Carried at Fair Value [Member] | Impaired Loans Carried at Fair Value [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Covered Loans [Member] | Covered Loans [Member] | Covered Other Real Estate Owned [Member] | Covered Other Real Estate Owned [Member] |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | $2,000 | $2,000 | $2,000 | $2,000 | $52,514 | $70,296 | $39,850 | $46,680 | $507,712 | $571,489 | $88,273 | $78,617 |
Total gains/(losses) included in net income | ' | ' | ' | ' | ' | ' | -2,214 | -9,048 | ' | ' | -3,432 | ' |
Purchases, sales, issuances, and settlements, net | ' | ' | ' | ' | -621 | ' | -7,987 | -21,008 | -61,338 | 15,281 | -61,014 | -30,258 |
Transfers in to Level 3 | ' | ' | ' | ' | ' | 842 | ' | ' | ' | ' | ' | ' |
Asset reclassification, within Level 3 | ' | ' | ' | ' | -8,329 | -20,701 | 8,329 | 20,701 | -28,725 | -40,536 | 28,725 | 40,536 |
Ending balance | $2,000 | $2,000 | $2,000 | $2,000 | $43,564 | $50,437 | $37,978 | $37,325 | $417,649 | $546,234 | $52,552 | $88,895 |
Pending_Merger_and_Acquisition1
Pending Merger and Acquisition - Additional Information (Detail) (USD $) | 1 Months Ended | |
In Millions, except Share data, unless otherwise specified | 1-May-13 | Jun. 30, 2013 |
Prosperity Banking Company [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Reported assets of Prosperity | ' | $754 |
Reported loans of Prosperity | ' | 485 |
Reported deposits of Prosperity | ' | 493 |
Shares to receive for each share of Prosperity common stock pursuant to the merger agreement | 3.125 | ' |
Cash to receive for each share of Prosperity common stock pursuant to the merger agreement | $41.50 | ' |
Maximum consideration in form of cash | 50.00% | ' |
Stock consideration | 100.00% | ' |
Transaction amount | $15.70 | ' |
Company's closing stock price | $13.32 | ' |
Prosperity's common shares outstanding | 377,960 | ' |
Prosperity Bank [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Number of banking locations | 12 | ' |
Investment_Securities_Amortize
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Schedule of Available-for-Sale Securities [Line Items] | ' | ' | ' |
Amortized Cost | $314,720 | $336,710 | $349,581 |
Gross Unrealized Gains | 5,325 | 11,166 | 12,458 |
Gross Unrealized Losses | -7,797 | -967 | -988 |
Fair Value | 312,248 | 346,909 | 361,051 |
U.S. Government Agencies [Member] | ' | ' | ' |
Schedule of Available-for-Sale Securities [Line Items] | ' | ' | ' |
Amortized Cost | 14,945 | 6,605 | 8,606 |
Gross Unrealized Gains | ' | 271 | 289 |
Gross Unrealized Losses | -1,028 | -6 | ' |
Fair Value | 13,917 | 6,870 | 8,895 |
State, County and Municipal Securities [Member] | ' | ' | ' |
Schedule of Available-for-Sale Securities [Line Items] | ' | ' | ' |
Amortized Cost | 112,643 | 109,736 | 106,541 |
Gross Unrealized Gains | 2,331 | 4,864 | 5,345 |
Gross Unrealized Losses | -2,035 | -210 | -144 |
Fair Value | 112,939 | 114,390 | 111,742 |
Corporate Debt Securities [Member] | ' | ' | ' |
Schedule of Available-for-Sale Securities [Line Items] | ' | ' | ' |
Amortized Cost | 10,314 | 10,545 | 11,793 |
Gross Unrealized Gains | 280 | 330 | 262 |
Gross Unrealized Losses | -856 | -547 | -560 |
Fair Value | 9,738 | 10,328 | 11,495 |
Mortgage-Backed Securities [Member] | ' | ' | ' |
Schedule of Available-for-Sale Securities [Line Items] | ' | ' | ' |
Amortized Cost | 176,818 | 209,824 | 222,641 |
Gross Unrealized Gains | 2,714 | 5,701 | 6,562 |
Gross Unrealized Losses | -3,878 | -204 | -284 |
Fair Value | $175,654 | $215,321 | $228,919 |
Investment_Securities_Amortize1
Investment Securities - Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Investments Debt And Equity Securities [Abstract] | ' | ' | ' |
Due in one year or less, Amortized Cost | $2,214 | ' | ' |
Due from one year to five years, Amortized Cost | 36,699 | ' | ' |
Due from five to ten years, Amortized Cost | 68,790 | ' | ' |
Due after ten years, Amortized Cost | 30,199 | ' | ' |
Mortgage-backed securities, Amortized cost | 176,818 | ' | ' |
Mortgage-backed securities, Amortized Cost | 314,720 | 336,710 | 349,581 |
Due in one year or less, Fair Value | 2,229 | ' | ' |
Due from one year to five years, Fair Value | 37,826 | ' | ' |
Due from five to ten years, Fair Value | 67,622 | ' | ' |
Due after ten years, Fair Value | 28,917 | ' | ' |
Mortgage-backed securities, Fair Value | 175,654 | ' | ' |
Fair Value | $312,248 | $346,909 | $361,051 |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Investments Debt And Equity Securities [Abstract] | ' |
Securities, carrying value | $217.30 |
Investment_Securities_Schedule
Investment Securities - Schedule of Gross Unrealized Losses and Fair Value of Securities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Schedule of Available-for-Sale Securities [Line Items] | ' | ' | ' |
Less Than 12 Months Fair Value | $151,072 | $44,540 | $47,313 |
12 Months or More Fair Value | 8,042 | 8,682 | 9,490 |
Total Fair Value | 159,114 | 53,222 | 56,803 |
Less Than 12 Months Unrealized Losses | -6,641 | -386 | -399 |
12 Months or More Unrealized Losses | -1,156 | -581 | -589 |
Total Unrealized Losses | -7,797 | -967 | -988 |
U.S. Government Agencies [Member] | ' | ' | ' |
Schedule of Available-for-Sale Securities [Line Items] | ' | ' | ' |
Less Than 12 Months Fair Value | 13,917 | 4,994 | ' |
12 Months or More Fair Value | ' | ' | ' |
Total Fair Value | 13,917 | 4,994 | ' |
Less Than 12 Months Unrealized Losses | -1,028 | -6 | ' |
12 Months or More Unrealized Losses | ' | ' | ' |
Total Unrealized Losses | -1,028 | -6 | ' |
State, County and Municipal Securities [Member] | ' | ' | ' |
Schedule of Available-for-Sale Securities [Line Items] | ' | ' | ' |
Less Than 12 Months Fair Value | 46,516 | 15,595 | 14,653 |
12 Months or More Fair Value | 3,807 | 505 | 505 |
Total Fair Value | 50,323 | 16,100 | 15,158 |
Less Than 12 Months Unrealized Losses | -1,735 | -199 | -132 |
12 Months or More Unrealized Losses | -300 | -11 | -12 |
Total Unrealized Losses | -2,035 | -210 | -144 |
Corporate Debt Securities [Member] | ' | ' | ' |
Schedule of Available-for-Sale Securities [Line Items] | ' | ' | ' |
12 Months or More Fair Value | 4,235 | 4,560 | 5,551 |
Total Fair Value | 4,235 | 4,560 | 5,551 |
12 Months or More Unrealized Losses | -856 | -547 | -560 |
Total Unrealized Losses | -856 | -547 | -560 |
Mortgage-Backed Securities [Member] | ' | ' | ' |
Schedule of Available-for-Sale Securities [Line Items] | ' | ' | ' |
Less Than 12 Months Fair Value | 90,639 | 23,951 | 32,660 |
12 Months or More Fair Value | ' | 3,617 | 3,434 |
Total Fair Value | 90,639 | 27,568 | 36,094 |
Less Than 12 Months Unrealized Losses | -3,878 | -181 | -267 |
12 Months or More Unrealized Losses | ' | -23 | -17 |
Total Unrealized Losses | ($3,878) | ($204) | ($284) |
Loans_Schedule_of_Accounts_Not
Loans - Schedule of Accounts Notes Loans and Financial Receivables (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and deferred loan fees receivables | $1,589,267 | $1,450,635 | $1,439,862 |
Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and deferred loan fees receivables | 244,991 | 174,217 | 189,374 |
Real Estate - Construction and Development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and deferred loan fees receivables | 132,277 | 114,199 | 125,315 |
Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and deferred loan fees receivables | 799,149 | 732,322 | 713,240 |
Real Estate - Residential [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and deferred loan fees receivables | 355,920 | 346,480 | 343,332 |
Consumer Installment Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and deferred loan fees receivables | 36,303 | 40,178 | 43,441 |
Other [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans and deferred loan fees receivables | $20,627 | $43,239 | $25,160 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Category | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans acquired in FDIC-assisted transactions | $417,600,000 | $546,200,000 | $507,700,000 |
Past due loan accrued | '90 days | ' | ' |
Nonaccrual loans | 200,000 | ' | ' |
Number of risk grading system category | 9 | ' | ' |
Loan-to-value ratio | 110.00% | ' | ' |
Modified loans | 17,000,000 | 23,500,000 | ' |
Troubled debt restructurings | 20,200,000 | 23,300,000 | 23,900,000 |
Troubled debt restructurings, previous charge-offs | 2,100,000 | 2,100,000 | 1,900,000 |
Allowance for loan losses allocated to troubled debt restructurings | 412,000 | 676,000 | 640,000 |
Troubled debt restructurings, provision for loan loss expense | 1,300,000 | 2,300,000 | 2,600,000 |
Troubled Debt Restructuring [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Nonaccrual loans | $100,000 | ' | ' |
Loans_Summary_of_Covered_Loans
Loans - Summary of Covered Loans According to Loan Type (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | $417,649 | $507,712 | $546,234 |
Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 27,768 | 32,606 | 37,167 |
Real Estate - Construction and Development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 50,702 | 70,184 | 73,356 |
Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 237,086 | 278,506 | 298,903 |
Real Estate - Residential [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 101,146 | 125,056 | 135,154 |
Consumer Installment Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | $947 | $1,360 | $1,654 |
Loans_Summary_of_Financial_Rec
Loans - Summary of Financial Receivable Nonaccrual Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | $200,000 | ' | ' |
Non-Covered Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 31,720,000 | 38,885,000 | 38,225,000 |
Non-Covered Loan [Member] | Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 4,198,000 | 4,138,000 | 4,285,000 |
Non-Covered Loan [Member] | Real Estate - Construction and Development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 4,229,000 | 9,281,000 | 8,201,000 |
Non-Covered Loan [Member] | Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 9,548,000 | 11,962,000 | 11,408,000 |
Non-Covered Loan [Member] | Real Estate - Residential [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 13,303,000 | 12,595,000 | 13,236,000 |
Non-Covered Loan [Member] | Consumer Installment Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 442,000 | 909,000 | 1,095,000 |
Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 74,911,000 | 115,712,000 | 123,901,000 |
Covered Loans [Member] | Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 7,872,000 | 10,765,000 | 11,938,000 |
Covered Loans [Member] | Real Estate - Construction and Development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 16,582,000 | 20,027,000 | 21,971,000 |
Covered Loans [Member] | Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 37,079,000 | 55,946,000 | 58,377,000 |
Covered Loans [Member] | Real Estate - Residential [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | 13,028,000 | 28,672,000 | 31,189,000 |
Covered Loans [Member] | Consumer Installment Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Covered loans | $350,000 | $302,000 | $426,000 |
Loans_Summary_of_NonCovered_Pa
Loans - Summary of Non-Covered Past Due Financial Receivables (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | $17,000 | ' | $23,500 |
Total Loans | 1,589,267 | 1,450,635 | 1,439,862 |
Non-Covered Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | 11,718 | 11,825 | 13,104 |
Loans 60-89 Days Past Due | 7,335 | 6,097 | 4,233 |
Loans 90 or More Days Past Due | 30,004 | 34,287 | 36,733 |
Total Loans Past Due | 49,057 | 52,209 | 54,070 |
Current Loans | 1,540,210 | 1,398,426 | 1,385,792 |
Total Loans | 1,589,267 | 1,450,635 | 1,439,862 |
Loans 90 Days or More Past Due and Still Accruing | ' | ' | ' |
Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 244,991 | 174,217 | 189,374 |
Commercial, Financial and Agricultural [Member] | Non-Covered Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | 623 | 258 | 1,192 |
Loans 60-89 Days Past Due | 297 | 312 | 639 |
Loans 90 or More Days Past Due | 4,107 | 3,969 | 3,786 |
Total Loans Past Due | 5,027 | 4,539 | 5,617 |
Current Loans | 239,964 | 169,678 | 183,757 |
Total Loans | 244,991 | 174,217 | 189,374 |
Loans 90 Days or More Past Due and Still Accruing | ' | ' | ' |
Real Estate - Construction and Development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 132,277 | 114,199 | 125,315 |
Real Estate - Construction and Development [Member] | Non-Covered Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | 1,200 | 347 | 518 |
Loans 60-89 Days Past Due | 794 | 332 | 152 |
Loans 90 or More Days Past Due | 4,229 | 8,969 | 8,180 |
Total Loans Past Due | 6,223 | 9,648 | 8,850 |
Current Loans | 126,054 | 104,551 | 116,465 |
Total Loans | 132,277 | 114,199 | 125,315 |
Loans 90 Days or More Past Due and Still Accruing | ' | ' | ' |
Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 799,149 | 732,322 | 713,240 |
Real Estate - Commercial and Farmland [Member] | Non-Covered Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | 3,883 | 2,867 | 3,507 |
Loans 60-89 Days Past Due | 2,458 | 2,296 | 812 |
Loans 90 or More Days Past Due | 9,523 | 9,544 | 11,402 |
Total Loans Past Due | 15,864 | 14,707 | 15,721 |
Current Loans | 783,285 | 717,615 | 697,519 |
Total Loans | 799,149 | 732,322 | 713,240 |
Loans 90 Days or More Past Due and Still Accruing | ' | ' | ' |
Real Estate - Residential [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 355,920 | 346,480 | 343,332 |
Real Estate - Residential [Member] | Non-Covered Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | 5,515 | 7,651 | 7,200 |
Loans 60-89 Days Past Due | 3,531 | 2,766 | 2,346 |
Loans 90 or More Days Past Due | 11,818 | 10,990 | 12,372 |
Total Loans Past Due | 20,864 | 21,407 | 21,918 |
Current Loans | 335,056 | 325,073 | 321,414 |
Total Loans | 355,920 | 346,480 | 343,332 |
Loans 90 Days or More Past Due and Still Accruing | ' | ' | ' |
Consumer Installment Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 36,303 | 40,178 | 43,441 |
Consumer Installment Loans [Member] | Non-Covered Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | 497 | 702 | 687 |
Loans 60-89 Days Past Due | 255 | 391 | 284 |
Loans 90 or More Days Past Due | 327 | 815 | 993 |
Total Loans Past Due | 1,079 | 1,908 | 1,964 |
Current Loans | 35,224 | 38,270 | 41,477 |
Total Loans | 36,303 | 40,178 | 43,441 |
Loans 90 Days or More Past Due and Still Accruing | ' | ' | ' |
Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 20,627 | 43,239 | 25,160 |
Other [Member] | Non-Covered Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Current Loans | 20,627 | 43,239 | 25,160 |
Total Loans | 20,627 | 43,239 | 25,160 |
Loans 90 Days or More Past Due and Still Accruing | ' | ' | ' |
Loans_Summary_of_Covered_Past_
Loans - Summary of Covered Past Due Financial Receivables (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | $17,000 | ' | $23,500 |
Total Loans | 1,589,267 | 1,450,635 | 1,439,862 |
Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | 13,544 | 21,536 | 16,825 |
Loans 60-89 Days Past Due | 7,785 | 14,479 | 12,451 |
Loans 90 or More Days Past Due | 64,368 | 108,072 | 113,705 |
Total Loans Past Due | 85,697 | 144,087 | 142,981 |
Current Loans | 331,952 | 363,625 | 403,253 |
Total Loans | 417,649 | 507,712 | 546,234 |
Loans 90 Days or More Past Due and Still Accruing | 1,657 | 3,301 | 4,138 |
Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Loans | 244,991 | 174,217 | 189,374 |
Commercial, Financial and Agricultural [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | 319 | 2,390 | 1,384 |
Loans 60-89 Days Past Due | 50 | 1,105 | 788 |
Loans 90 or More Days Past Due | 6,695 | 10,612 | 11,315 |
Total Loans Past Due | 7,064 | 14,107 | 13,487 |
Current Loans | 20,704 | 18,499 | 23,680 |
Total Loans | 27,768 | 32,606 | 37,167 |
Loans 90 Days or More Past Due and Still Accruing | ' | 98 | ' |
Real Estate - Construction and Development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Loans | 132,277 | 114,199 | 125,315 |
Real Estate - Construction and Development [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | 2,831 | 1,584 | 3,611 |
Loans 60-89 Days Past Due | 658 | 2,592 | 1,663 |
Loans 90 or More Days Past Due | 15,781 | 19,656 | 22,194 |
Total Loans Past Due | 19,270 | 23,832 | 27,468 |
Current Loans | 31,432 | 46,352 | 45,888 |
Total Loans | 50,702 | 70,184 | 73,356 |
Loans 90 Days or More Past Due and Still Accruing | 266 | 1,077 | 2,312 |
Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Loans | 799,149 | 732,322 | 713,240 |
Real Estate - Commercial and Farmland [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | 7,365 | 11,451 | 7,072 |
Loans 60-89 Days Past Due | 5,350 | 7,373 | 6,559 |
Loans 90 or More Days Past Due | 30,503 | 52,570 | 51,382 |
Total Loans Past Due | 43,218 | 71,394 | 65,013 |
Current Loans | 193,868 | 207,112 | 233,890 |
Total Loans | 237,086 | 278,506 | 298,903 |
Loans 90 Days or More Past Due and Still Accruing | 568 | 1,347 | 808 |
Real Estate - Residential [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Loans | 355,920 | 346,480 | 343,332 |
Real Estate - Residential [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | 2,980 | 6,066 | 4,702 |
Loans 60-89 Days Past Due | 1,727 | 3,396 | 3,349 |
Loans 90 or More Days Past Due | 11,078 | 24,976 | 28,559 |
Total Loans Past Due | 15,785 | 34,438 | 36,610 |
Current Loans | 85,361 | 90,618 | 98,544 |
Total Loans | 101,146 | 125,056 | 135,154 |
Loans 90 Days or More Past Due and Still Accruing | 823 | 779 | 1,018 |
Consumer Installment Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total Loans | 36,303 | 40,178 | 43,441 |
Consumer Installment Loans [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans 30-59 Days Past Due | 49 | 45 | 56 |
Loans 60-89 Days Past Due | ' | 13 | 92 |
Loans 90 or More Days Past Due | 311 | 258 | 255 |
Total Loans Past Due | 360 | 316 | 403 |
Current Loans | 587 | 1,044 | 1,251 |
Total Loans | $947 | $1,360 | $1,654 |
Loans_Summary_of_Impaired_Fina
Loans - Summary of Impaired Financial Receivables (Summary of Non-Covered Impaired Loans) (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Nonaccrual loans | $200,000 | ' | ' |
Troubled debt restructurings not included above | 20,200,000 | 23,300,000 | 23,900,000 |
Non-Covered Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Nonaccrual loans | 31,720,000 | 38,225,000 | 38,885,000 |
Troubled debt restructurings not included above | 17,024,000 | 19,893,000 | 18,744,000 |
Total impaired loans | 48,744,000 | 58,118,000 | 57,629,000 |
Impaired loans not requiring a related allowance | ' | ' | ' |
Impaired loans requiring a related allowance | 48,744,000 | 58,118,000 | 57,629,000 |
Allowance related to impaired loans | 5,180,000 | 7,681,000 | 5,115,000 |
Average investment in impaired loans | 53,047,000 | 73,353,000 | 70,209,000 |
Interest income recognized on impaired loans | 468,000 | 376,000 | 495,000 |
Foregone interest income on impaired loans | $388,000 | $491,000 | $718,000 |
Loans_Summary_of_Impaired_Fina1
Loans - Summary of Impaired Financial Receivables (Analysis of Non-Covered Impaired Loans) (Detail) (Non-Covered Loan [Member], USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Contractual Principal Balance | $65,594 | $79,403 | $78,758 |
Recorded Investment With No Allowance | ' | ' | ' |
Recorded Investment With Allowance | 48,744 | 58,118 | 57,629 |
Total impaired loans | 48,744 | 58,118 | 57,629 |
Related Allowance | 5,180 | 7,681 | 5,115 |
Average Recorded Investment | 53,047 | 73,353 | 70,209 |
Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Contractual Principal Balance | 7,401 | 8,261 | 8,024 |
Recorded Investment With No Allowance | ' | ' | ' |
Recorded Investment With Allowance | 4,719 | 5,089 | 4,940 |
Total impaired loans | 4,719 | 5,089 | 4,940 |
Related Allowance | 820 | 876 | 743 |
Average Recorded Investment | 4,900 | 4,974 | 4,968 |
Real Estate - Construction and Development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Contractual Principal Balance | 14,299 | 19,583 | 20,316 |
Recorded Investment With No Allowance | ' | ' | ' |
Recorded Investment With Allowance | 6,155 | 9,682 | 11,016 |
Total impaired loans | 6,155 | 9,682 | 11,016 |
Related Allowance | 821 | 1,253 | 910 |
Average Recorded Investment | 8,960 | 11,879 | 11,706 |
Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Contractual Principal Balance | 18,628 | 25,346 | 25,076 |
Recorded Investment With No Allowance | ' | ' | ' |
Recorded Investment With Allowance | 16,241 | 20,948 | 20,910 |
Total impaired loans | 16,241 | 20,948 | 20,910 |
Related Allowance | 1,999 | 2,907 | 2,191 |
Average Recorded Investment | 18,079 | 33,070 | 30,638 |
Real Estate - Residential [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Contractual Principal Balance | 24,701 | 24,993 | 24,155 |
Recorded Investment With No Allowance | ' | ' | ' |
Recorded Investment With Allowance | 21,174 | 21,304 | 19,848 |
Total impaired loans | 21,174 | 21,304 | 19,848 |
Related Allowance | 1,530 | 2,616 | 1,246 |
Average Recorded Investment | 20,427 | 22,303 | 21,813 |
Consumer Installment Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Contractual Principal Balance | 565 | 1,220 | 1,187 |
Recorded Investment With No Allowance | ' | ' | ' |
Recorded Investment With Allowance | 455 | 1,095 | 915 |
Total impaired loans | 455 | 1,095 | 915 |
Related Allowance | 10 | 29 | 25 |
Average Recorded Investment | $681 | $1,127 | $1,084 |
Loans_Summary_of_Impaired_Fina2
Loans - Summary of Impaired Financial Receivables (Summary of Covered Impaired Loans) (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Nonaccrual loans | $200,000 | ' | ' |
Troubled debt restructurings not included above | 20,200,000 | 23,300,000 | 23,900,000 |
Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Nonaccrual loans | 74,911,000 | 123,901,000 | 115,712,000 |
Troubled debt restructurings not included above | 21,184,000 | 25,926,000 | 19,194,000 |
Total impaired loans | 96,095,000 | 149,827,000 | 134,906,000 |
Impaired loans not requiring a related allowance | 96,095,000 | 149,827,000 | 134,906,000 |
Impaired loans requiring a related allowance | ' | ' | ' |
Allowance related to impaired loans | ' | ' | ' |
Average investment in impaired loans | 115,689,000 | 171,055,000 | 163,825,000 |
Interest income recognized on impaired loans | 793,000 | 1,319,000 | 849,000 |
Foregone interest income on impaired loans | $286,000 | $554,000 | $491,000 |
Loans_Summary_of_Impaired_Fina3
Loans - Summary of Impaired Financial Receivables (Analysis of Covered Impaired Loans) (Detail) (Covered Loans [Member], USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Contractual Principal Balance | $115,633 | $206,439 | $335,784 |
Recorded Investment With No Allowance | 96,095 | 149,827 | 134,906 |
Recorded Investment With Allowance | ' | ' | ' |
Total impaired loans | 96,095 | 149,827 | 134,906 |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 115,689 | 171,055 | 163,825 |
Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Contractual Principal Balance | 10,645 | 17,833 | 27,060 |
Recorded Investment With No Allowance | 7,884 | 11,976 | 10,802 |
Recorded Investment With Allowance | ' | ' | ' |
Total impaired loans | 7,884 | 11,976 | 10,802 |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 9,052 | 12,932 | 12,506 |
Real Estate - Construction and Development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Contractual Principal Balance | 25,401 | 34,787 | 85,279 |
Recorded Investment With No Allowance | 20,890 | 23,833 | 23,236 |
Recorded Investment With Allowance | ' | ' | ' |
Total impaired loans | 20,890 | 23,833 | 23,236 |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 22,734 | 31,653 | 29,970 |
Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Contractual Principal Balance | 51,105 | 98,909 | 159,493 |
Recorded Investment With No Allowance | 43,279 | 72,802 | 64,231 |
Recorded Investment With Allowance | ' | ' | ' |
Total impaired loans | 43,279 | 72,802 | 64,231 |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 54,292 | 82,430 | 78,790 |
Real Estate - Residential [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Contractual Principal Balance | 28,078 | 54,020 | 63,559 |
Recorded Investment With No Allowance | 23,692 | 40,790 | 36,335 |
Recorded Investment With Allowance | ' | ' | ' |
Total impaired loans | 23,692 | 40,790 | 36,335 |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 29,316 | 43,492 | 42,061 |
Consumer Installment Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Unpaid Contractual Principal Balance | 404 | 890 | 393 |
Recorded Investment With No Allowance | 350 | 426 | 302 |
Recorded Investment With Allowance | ' | ' | ' |
Total impaired loans | 350 | 426 | 302 |
Related Allowance | ' | ' | ' |
Average Recorded Investment | $295 | $548 | $498 |
Loans_Summary_of_Credit_Qualit
Loans - Summary of Credit Quality Indicate Financial Receivable (Non-Covered Loan Portfolio) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | $1,589,267 | $1,450,635 | $1,439,862 |
Non-Covered Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 1,589,267 | 1,450,635 | 1,439,862 |
Non-Covered Loan [Member] | 10 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 72,759 | 32,993 | 34,809 |
Non-Covered Loan [Member] | 15 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 230,810 | 236,500 | 244,466 |
Non-Covered Loan [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 731,154 | 641,950 | 592,283 |
Non-Covered Loan [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 30,729 | 31,433 | 30,176 |
Non-Covered Loan [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 433,358 | 399,210 | 427,598 |
Non-Covered Loan [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 28,952 | 35,298 | 35,478 |
Non-Covered Loan [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 61,270 | 72,994 | 74,606 |
Non-Covered Loan [Member] | 50 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 235 | 257 | 446 |
Non-Covered Loan [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 244,991 | 174,217 | 189,374 |
Commercial, Financial and Agricultural [Member] | Non-Covered Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 244,991 | 174,217 | 189,374 |
Commercial, Financial and Agricultural [Member] | Non-Covered Loan [Member] | 10 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 65,033 | 24,623 | 26,291 |
Commercial, Financial and Agricultural [Member] | Non-Covered Loan [Member] | 15 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 20,668 | 11,316 | 11,816 |
Commercial, Financial and Agricultural [Member] | Non-Covered Loan [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 89,216 | 79,522 | 80,681 |
Commercial, Financial and Agricultural [Member] | Non-Covered Loan [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 97 | 42 | 5 |
Commercial, Financial and Agricultural [Member] | Non-Covered Loan [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 60,407 | 49,071 | 62,377 |
Commercial, Financial and Agricultural [Member] | Non-Covered Loan [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 3,019 | 2,343 | 1,508 |
Commercial, Financial and Agricultural [Member] | Non-Covered Loan [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 6,326 | 7,200 | 6,436 |
Commercial, Financial and Agricultural [Member] | Non-Covered Loan [Member] | 50 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 225 | 100 | 260 |
Commercial, Financial and Agricultural [Member] | Non-Covered Loan [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Real Estate - Construction and Development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 132,277 | 114,199 | 125,315 |
Real Estate - Construction and Development [Member] | Non-Covered Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 132,277 | 114,199 | 125,315 |
Real Estate - Construction and Development [Member] | Non-Covered Loan [Member] | 15 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 5,080 | 4,373 | 4,532 |
Real Estate - Construction and Development [Member] | Non-Covered Loan [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 37,765 | 31,413 | 33,603 |
Real Estate - Construction and Development [Member] | Non-Covered Loan [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 7,085 | 8,521 | 7,667 |
Real Estate - Construction and Development [Member] | Non-Covered Loan [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 72,942 | 52,577 | 59,013 |
Real Estate - Construction and Development [Member] | Non-Covered Loan [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 2,264 | 3,394 | 7,948 |
Real Estate - Construction and Development [Member] | Non-Covered Loan [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 7,141 | 13,765 | 12,396 |
Real Estate - Construction and Development [Member] | Non-Covered Loan [Member] | 50 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | 156 | 156 |
Real Estate - Construction and Development [Member] | Non-Covered Loan [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 799,149 | 732,322 | 713,240 |
Real Estate - Commercial and Farmland [Member] | Non-Covered Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 799,149 | 732,322 | 713,240 |
Real Estate - Commercial and Farmland [Member] | Non-Covered Loan [Member] | 10 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 278 | 309 | 220 |
Real Estate - Commercial and Farmland [Member] | Non-Covered Loan [Member] | 15 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 147,355 | 147,966 | 152,678 |
Real Estate - Commercial and Farmland [Member] | Non-Covered Loan [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 421,669 | 351,997 | 324,270 |
Real Estate - Commercial and Farmland [Member] | Non-Covered Loan [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 10,054 | 9,012 | 8,773 |
Real Estate - Commercial and Farmland [Member] | Non-Covered Loan [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 183,371 | 176,395 | 184,146 |
Real Estate - Commercial and Farmland [Member] | Non-Covered Loan [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 12,089 | 19,401 | 14,742 |
Real Estate - Commercial and Farmland [Member] | Non-Covered Loan [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 24,333 | 27,242 | 28,411 |
Real Estate - Commercial and Farmland [Member] | Non-Covered Loan [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Real Estate - Residential [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 355,920 | 346,480 | 343,332 |
Real Estate - Residential [Member] | Non-Covered Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 355,920 | 346,480 | 343,332 |
Real Estate - Residential [Member] | Non-Covered Loan [Member] | 10 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 420 | 464 | 411 |
Real Estate - Residential [Member] | Non-Covered Loan [Member] | 15 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 56,464 | 71,254 | 74,040 |
Real Estate - Residential [Member] | Non-Covered Loan [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 142,186 | 114,418 | 105,531 |
Real Estate - Residential [Member] | Non-Covered Loan [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 13,275 | 13,788 | 13,650 |
Real Estate - Residential [Member] | Non-Covered Loan [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 109,604 | 113,591 | 113,560 |
Real Estate - Residential [Member] | Non-Covered Loan [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 11,427 | 9,672 | 10,535 |
Real Estate - Residential [Member] | Non-Covered Loan [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 22,534 | 23,292 | 25,583 |
Real Estate - Residential [Member] | Non-Covered Loan [Member] | 50 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 10 | 1 | 22 |
Real Estate - Residential [Member] | Non-Covered Loan [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Consumer Installment Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 36,303 | 40,178 | 43,441 |
Consumer Installment Loans [Member] | Non-Covered Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 36,303 | 40,178 | 43,441 |
Consumer Installment Loans [Member] | Non-Covered Loan [Member] | 10 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 7,028 | 7,597 | 7,887 |
Consumer Installment Loans [Member] | Non-Covered Loan [Member] | 15 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 1,243 | 1,591 | 1,400 |
Consumer Installment Loans [Member] | Non-Covered Loan [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 19,691 | 21,361 | 23,038 |
Consumer Installment Loans [Member] | Non-Covered Loan [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 218 | 70 | 81 |
Consumer Installment Loans [Member] | Non-Covered Loan [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 7,034 | 7,576 | 8,502 |
Consumer Installment Loans [Member] | Non-Covered Loan [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 153 | 488 | 745 |
Consumer Installment Loans [Member] | Non-Covered Loan [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 936 | 1,495 | 1,780 |
Consumer Installment Loans [Member] | Non-Covered Loan [Member] | 50 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | 8 |
Consumer Installment Loans [Member] | Non-Covered Loan [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Other [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 20,627 | 43,239 | 25,160 |
Other [Member] | Non-Covered Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 20,627 | 43,239 | 25,160 |
Other [Member] | Non-Covered Loan [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 20,627 | 43,239 | 25,160 |
Other [Member] | Non-Covered Loan [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Loans_Summary_of_Credit_Qualit1
Loans - Summary of Credit Quality Indicate Financial Receivable (Covered Loan Portfolio) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | $1,589,267 | $1,450,635 | $1,439,862 |
Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 417,649 | 507,712 | 546,234 |
Covered Loans [Member] | 10 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | 861 |
Covered Loans [Member] | 15 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 1,761 | 2,323 | 2,516 |
Covered Loans [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 71,049 | 84,918 | 94,548 |
Covered Loans [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 20,876 | 12,830 | 7,783 |
Covered Loans [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 163,737 | 184,830 | 206,782 |
Covered Loans [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 40,990 | 62,106 | 56,401 |
Covered Loans [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 119,236 | 160,705 | 177,343 |
Covered Loans [Member] | 50 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Covered Loans [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 244,991 | 174,217 | 189,374 |
Commercial, Financial and Agricultural [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 27,768 | 32,606 | 37,167 |
Commercial, Financial and Agricultural [Member] | Covered Loans [Member] | 15 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | 91 |
Commercial, Financial and Agricultural [Member] | Covered Loans [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 2,697 | 3,997 | 4,970 |
Commercial, Financial and Agricultural [Member] | Covered Loans [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 135 | 28 | 30 |
Commercial, Financial and Agricultural [Member] | Covered Loans [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 7,609 | 10,013 | 11,986 |
Commercial, Financial and Agricultural [Member] | Covered Loans [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 1,485 | 4,294 | 4,063 |
Commercial, Financial and Agricultural [Member] | Covered Loans [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 15,842 | 14,274 | 16,027 |
Commercial, Financial and Agricultural [Member] | Covered Loans [Member] | 50 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Commercial, Financial and Agricultural [Member] | Covered Loans [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Real Estate - Construction and Development [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 132,277 | 114,199 | 125,315 |
Real Estate - Construction and Development [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 50,702 | 70,184 | 73,356 |
Real Estate - Construction and Development [Member] | Covered Loans [Member] | 10 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | 8 |
Real Estate - Construction and Development [Member] | Covered Loans [Member] | 15 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 22 | 39 | 44 |
Real Estate - Construction and Development [Member] | Covered Loans [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 11,347 | 12,194 | 13,950 |
Real Estate - Construction and Development [Member] | Covered Loans [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 1,080 | 1,174 | 1,226 |
Real Estate - Construction and Development [Member] | Covered Loans [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 7,360 | 19,216 | 18,921 |
Real Estate - Construction and Development [Member] | Covered Loans [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 5,505 | 7,214 | 7,494 |
Real Estate - Construction and Development [Member] | Covered Loans [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 25,388 | 30,347 | 31,713 |
Real Estate - Construction and Development [Member] | Covered Loans [Member] | 50 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Real Estate - Construction and Development [Member] | Covered Loans [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 799,149 | 732,322 | 713,240 |
Real Estate - Commercial and Farmland [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 237,086 | 278,506 | 298,903 |
Real Estate - Commercial and Farmland [Member] | Covered Loans [Member] | 15 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 1,098 | 1,640 | 1,673 |
Real Estate - Commercial and Farmland [Member] | Covered Loans [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 34,252 | 37,098 | 40,912 |
Real Estate - Commercial and Farmland [Member] | Covered Loans [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 16,708 | 9,576 | 4,638 |
Real Estate - Commercial and Farmland [Member] | Covered Loans [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 108,886 | 114,849 | 130,155 |
Real Estate - Commercial and Farmland [Member] | Covered Loans [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 24,790 | 38,665 | 35,764 |
Real Estate - Commercial and Farmland [Member] | Covered Loans [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 51,352 | 76,678 | 85,761 |
Real Estate - Commercial and Farmland [Member] | Covered Loans [Member] | 50 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Real Estate - Commercial and Farmland [Member] | Covered Loans [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Real Estate - Residential [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 355,920 | 346,480 | 343,332 |
Real Estate - Residential [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 101,146 | 125,056 | 135,154 |
Real Estate - Residential [Member] | Covered Loans [Member] | 10 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | 853 |
Real Estate - Residential [Member] | Covered Loans [Member] | 15 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 641 | 644 | 708 |
Real Estate - Residential [Member] | Covered Loans [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 22,545 | 31,337 | 34,397 |
Real Estate - Residential [Member] | Covered Loans [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 2,902 | 2,052 | 1,889 |
Real Estate - Residential [Member] | Covered Loans [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 39,632 | 40,194 | 44,999 |
Real Estate - Residential [Member] | Covered Loans [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 9,196 | 11,883 | 9,016 |
Real Estate - Residential [Member] | Covered Loans [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 26,230 | 38,946 | 43,292 |
Real Estate - Residential [Member] | Covered Loans [Member] | 50 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Real Estate - Residential [Member] | Covered Loans [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Consumer Installment Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 36,303 | 40,178 | 43,441 |
Consumer Installment Loans [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 947 | 1,360 | 1,654 |
Consumer Installment Loans [Member] | Covered Loans [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 208 | 292 | 319 |
Consumer Installment Loans [Member] | Covered Loans [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 51 | ' | ' |
Consumer Installment Loans [Member] | Covered Loans [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 250 | 558 | 721 |
Consumer Installment Loans [Member] | Covered Loans [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 14 | 50 | 64 |
Consumer Installment Loans [Member] | Covered Loans [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 424 | 460 | 550 |
Consumer Installment Loans [Member] | Covered Loans [Member] | 50 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Consumer Installment Loans [Member] | Covered Loans [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Other [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | 20,627 | 43,239 | 25,160 |
Other [Member] | Covered Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Other [Member] | Covered Loans [Member] | 10 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Other [Member] | Covered Loans [Member] | 15 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Other [Member] | Covered Loans [Member] | 20 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Other [Member] | Covered Loans [Member] | 23 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Other [Member] | Covered Loans [Member] | 25 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Other [Member] | Covered Loans [Member] | 30 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Other [Member] | Covered Loans [Member] | 40 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Other [Member] | Covered Loans [Member] | 50 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Other [Member] | Covered Loans [Member] | 60 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans portfolio by risk grade | ' | ' | ' |
Loans_Summary_of_Trouble_Debt_
Loans - Summary of Trouble Debt Restructuring by Loan Class (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Troubled debt restructuring loans | $20,200 | $23,900 | $23,300 |
Accruing Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 64 | 55 | 51 |
Troubled debt restructuring loans | 17,024 | 18,744 | 19,893 |
Accruing Loans [Member] | Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 4 | 5 | 5 |
Troubled debt restructuring loans | 521 | 802 | 804 |
Accruing Loans [Member] | Real Estate - Construction and Development [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 8 | 5 | 4 |
Troubled debt restructuring loans | 1,926 | 1,735 | 1,481 |
Accruing Loans [Member] | Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 16 | 16 | 15 |
Troubled debt restructuring loans | 6,693 | 8,947 | 9,540 |
Accruing Loans [Member] | Real Estate - Residential [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 35 | 28 | 27 |
Troubled debt restructuring loans | 7,871 | 7,254 | 8,068 |
Accruing Loans [Member] | Consumer Installment Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 1 | 1 | ' |
Troubled debt restructuring loans | 13 | 6 | ' |
Non-Accruing Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 16 | 5 | 3 |
Troubled debt restructuring loans | 3,150 | 5,171 | 3,390 |
Non-Accruing Loans [Member] | Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 3 | ' | ' |
Troubled debt restructuring loans | 533 | ' | ' |
Non-Accruing Loans [Member] | Real Estate - Construction and Development [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 1 | ' | ' |
Troubled debt restructuring loans | 29 | ' | ' |
Non-Accruing Loans [Member] | Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 3 | 3 | 1 |
Troubled debt restructuring loans | 1,858 | 4,149 | 2,770 |
Non-Accruing Loans [Member] | Real Estate - Residential [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 7 | 2 | 2 |
Troubled debt restructuring loans | 704 | 1,022 | 620 |
Non-Accruing Loans [Member] | Consumer Installment Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 2 | ' | ' |
Troubled debt restructuring loans | $26 | ' | ' |
Loans_Summary_of_Troubled_Debt
Loans - Summary of Troubled Debt Restructuring by Loan Class, Classified Separately Under Terms (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | Contract | Contract | Contract |
Loans Currently Paying Under Restructured Terms [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 56 | 54 | 50 |
Troubled debt restructuring loans | $16,258 | $18,738 | $19,893 |
Loans Currently Paying Under Restructured Terms [Member] | Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 3 | 5 | 5 |
Troubled debt restructuring loans | 508 | 802 | 804 |
Loans Currently Paying Under Restructured Terms [Member] | Real Estate - Construction and Development [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 6 | 5 | 4 |
Troubled debt restructuring loans | 1,881 | 1,735 | 1,481 |
Loans Currently Paying Under Restructured Terms [Member] | Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 14 | 16 | 15 |
Troubled debt restructuring loans | 6,550 | 8,947 | 9,540 |
Loans Currently Paying Under Restructured Terms [Member] | Real Estate - Residential [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 31 | 28 | 26 |
Troubled debt restructuring loans | 7,282 | 7,254 | 8,068 |
Loans Currently Paying Under Restructured Terms [Member] | Consumer Installment Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 2 | ' | ' |
Troubled debt restructuring loans | 37 | ' | ' |
Loans that have Defaulted Under Restructured Terms [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 24 | 6 | 4 |
Troubled debt restructuring loans | 3,916 | 5,177 | 3,390 |
Loans that have Defaulted Under Restructured Terms [Member] | Commercial, Financial and Agricultural [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 4 | ' | ' |
Troubled debt restructuring loans | 546 | ' | ' |
Loans that have Defaulted Under Restructured Terms [Member] | Real Estate - Construction and Development [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 3 | ' | ' |
Troubled debt restructuring loans | 74 | ' | ' |
Loans that have Defaulted Under Restructured Terms [Member] | Real Estate - Commercial and Farmland [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 5 | 3 | 1 |
Troubled debt restructuring loans | 2,001 | 4,149 | 2,770 |
Loans that have Defaulted Under Restructured Terms [Member] | Real Estate - Residential [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 11 | 2 | 3 |
Troubled debt restructuring loans | 1,293 | 1,022 | 620 |
Loans that have Defaulted Under Restructured Terms [Member] | Consumer Installment Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 1 | 1 | ' |
Troubled debt restructuring loans | $2 | $6 | ' |
Loans_Summary_of_Troubled_Debt1
Loans - Summary of Troubled Debt Restructuring by Concessions Made Types (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Troubled debt restructuring loans | $20,200 | $23,900 | $23,300 |
Accruing Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 64 | 55 | 51 |
Troubled debt restructuring loans | 17,024 | 18,744 | 19,893 |
Accruing Loans [Member] | Forbearance of Interest [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 9 | 2 | 2 |
Troubled debt restructuring loans | 2,135 | 1,873 | 1,902 |
Accruing Loans [Member] | Forgiveness of Principal [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 3 | 3 | 3 |
Troubled debt restructuring loans | 1,479 | 1,518 | 1,516 |
Accruing Loans [Member] | Payment Modification Only [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 2 | 2 | 2 |
Troubled debt restructuring loans | 370 | 376 | 1,292 |
Accruing Loans [Member] | Rate Reduction Only [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 14 | 11 | 10 |
Troubled debt restructuring loans | 7,146 | 7,075 | 5,889 |
Accruing Loans [Member] | Rate Reduction, Forbearance of Interest [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 18 | 18 | 15 |
Troubled debt restructuring loans | 2,878 | 4,061 | 4,371 |
Accruing Loans [Member] | Rate Reduction, Forbearance of Principal [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 18 | 18 | 18 |
Troubled debt restructuring loans | 3,016 | 3,798 | 4,874 |
Accruing Loans [Member] | Rate Reduction, Payment Modification [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | 1 | 1 |
Troubled debt restructuring loans | ' | 43 | 49 |
Non-Accruing Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 16 | 5 | 3 |
Troubled debt restructuring loans | 3,150 | 5,171 | 3,390 |
Non-Accruing Loans [Member] | Forbearance of Interest [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 2 | ' | ' |
Troubled debt restructuring loans | 101 | ' | ' |
Non-Accruing Loans [Member] | Forgiveness of Principal [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 1 | 1 | 1 |
Troubled debt restructuring loans | 145 | 372 | 369 |
Non-Accruing Loans [Member] | Payment Modification Only [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | ' | 1 |
Troubled debt restructuring loans | ' | ' | 251 |
Non-Accruing Loans [Member] | Rate Reduction Only [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 2 | 1 | ' |
Troubled debt restructuring loans | 496 | 177 | ' |
Non-Accruing Loans [Member] | Rate Reduction, Forbearance of Interest [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 10 | 2 | 1 |
Troubled debt restructuring loans | 2,379 | 3,420 | 2,770 |
Non-Accruing Loans [Member] | Rate Reduction, Forbearance of Principal [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | ' | ' |
Troubled debt restructuring loans | ' | ' | ' |
Non-Accruing Loans [Member] | Rate Reduction, Payment Modification [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 1 | 1 | ' |
Troubled debt restructuring loans | $29 | $1,202 | ' |
Loans_Summary_of_Troubled_Debt2
Loans - Summary of Troubled Debt Restructurings by Collateral Types (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Troubled debt restructuring loans | $20,200 | $23,900 | $23,300 |
Accruing Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 64 | 55 | 51 |
Troubled debt restructuring loans | 17,024 | 18,744 | 19,893 |
Accruing Loans [Member] | Warehouse [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 3 | 3 | 3 |
Troubled debt restructuring loans | 1,065 | 1,692 | 1,621 |
Accruing Loans [Member] | Raw Land [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 3 | 2 | 2 |
Troubled debt restructuring loans | 1,337 | 1,337 | 1,349 |
Accruing Loans [Member] | Agricultural Land [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 2 | ' | ' |
Troubled debt restructuring loans | 380 | ' | ' |
Accruing Loans [Member] | Hotel & Motel [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 3 | 3 | 3 |
Troubled debt restructuring loans | 2,219 | 2,318 | 2,362 |
Accruing Loans [Member] | Office [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 4 | 4 | 2 |
Troubled debt restructuring loans | 1,924 | 2,105 | 1,503 |
Accruing Loans [Member] | Retail, Including Strip Centers [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 4 | 6 | 7 |
Troubled debt restructuring loans | 1,105 | 2,833 | 4,054 |
Accruing Loans [Member] | 1-4 Family Residential [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 40 | 31 | 30 |
Troubled debt restructuring loans | 8,460 | 7,651 | 8,216 |
Accruing Loans [Member] | Life Insurance Policy [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 1 | 1 | ' |
Troubled debt restructuring loans | 250 | 250 | ' |
Accruing Loans [Member] | Automobile/Equipment/Inventory [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 3 | 4 | 1 |
Troubled debt restructuring loans | 36 | 508 | 38 |
Accruing Loans [Member] | Unsecured [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 1 | 1 | 2 |
Troubled debt restructuring loans | 248 | 50 | 300 |
Accruing Loans [Member] | Inventory [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | ' | 1 |
Troubled debt restructuring loans | ' | ' | 450 |
Non-Accruing Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 16 | 5 | 3 |
Troubled debt restructuring loans | 3,150 | 5,171 | 3,390 |
Non-Accruing Loans [Member] | Warehouse [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 1 | 1 | ' |
Troubled debt restructuring loans | 176 | 177 | ' |
Non-Accruing Loans [Member] | Raw Land [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 1 | ' | ' |
Troubled debt restructuring loans | 29 | ' | ' |
Non-Accruing Loans [Member] | Agricultural Land [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | ' | ' |
Troubled debt restructuring loans | ' | ' | ' |
Non-Accruing Loans [Member] | Hotel & Motel [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | ' | ' |
Troubled debt restructuring loans | ' | ' | ' |
Non-Accruing Loans [Member] | Office [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | 1 | 1 |
Troubled debt restructuring loans | ' | 2,770 | 2,770 |
Non-Accruing Loans [Member] | Retail, Including Strip Centers [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 2 | 1 | ' |
Troubled debt restructuring loans | 1,682 | 1,202 | ' |
Non-Accruing Loans [Member] | 1-4 Family Residential [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 7 | 2 | 2 |
Troubled debt restructuring loans | 704 | 1,022 | 620 |
Non-Accruing Loans [Member] | Life Insurance Policy [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | ' | ' |
Troubled debt restructuring loans | ' | ' | ' |
Non-Accruing Loans [Member] | Automobile/Equipment/Inventory [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 4 | ' | ' |
Troubled debt restructuring loans | 509 | ' | ' |
Non-Accruing Loans [Member] | Unsecured [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 1 | ' | ' |
Troubled debt restructuring loans | $50 | ' | ' |
Loans_Schedule_of_Allowances_f
Loans - Schedule of Allowances for Loan Losses By Portfolio Segment (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Loans Receivable [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | $23,593 | $35,156 | $35,156 |
Provision for loan losses | 8,747 | 24,360 | 28,451 |
Loans charged off | -9,693 | -34,167 | -41,163 |
Recoveries of loans previously charged off | 1,207 | 552 | 1,149 |
Ending balance | 23,854 | 25,901 | 23,593 |
Period-End Amount Allocated to [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans individually evaluated for impairment | 4,849 | 5,556 | 4,554 |
Loans collectively evaluated for impairment | 19,005 | 20,345 | 19,039 |
Ending balance | 23,854 | 25,901 | 23,593 |
Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 38,705 | 44,988 | 45,320 |
Collectively evaluated for impairment | 1,550,562 | 1,394,874 | 1,405,315 |
Ending balance | 1,589,267 | 1,439,862 | 1,450,635 |
Commercial, Financial and Agricultural [Member] | Loans Receivable [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 2,439 | 2,918 | 2,918 |
Provision for loan losses | 1,011 | 677 | 815 |
Loans charged off | -1,216 | -889 | -1,451 |
Recoveries of loans previously charged off | 340 | 101 | 157 |
Ending balance | 2,574 | 2,807 | 2,439 |
Commercial, Financial and Agricultural [Member] | Period-End Amount Allocated to [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans individually evaluated for impairment | 741 | 610 | 659 |
Loans collectively evaluated for impairment | 1,833 | 2,197 | 1,780 |
Ending balance | 2,574 | 2,807 | 2,439 |
Commercial, Financial and Agricultural [Member] | Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 3,657 | 2,748 | 3,351 |
Collectively evaluated for impairment | 241,334 | 186,626 | 170,866 |
Ending balance | 244,991 | 189,374 | 174,217 |
Real Estate - Construction and Development [Member] | Loans Receivable [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 5,343 | 9,438 | 9,438 |
Provision for loan losses | 2,127 | 4,954 | 5,245 |
Loans charged off | -1,598 | -7,819 | -9,380 |
Recoveries of loans previously charged off | 88 | 23 | 40 |
Ending balance | 5,960 | 6,596 | 5,343 |
Real Estate - Construction and Development [Member] | Period-End Amount Allocated to [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans individually evaluated for impairment | 682 | 526 | 611 |
Loans collectively evaluated for impairment | 5,278 | 6,070 | 4,732 |
Ending balance | 5,960 | 6,596 | 5,343 |
Real Estate - Construction and Development [Member] | Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 3,524 | 5,510 | 7,617 |
Collectively evaluated for impairment | 128,753 | 119,805 | 106,582 |
Ending balance | 132,277 | 125,315 | 114,199 |
Real Estate - Commercial and Farmland [Member] | Loans Receivable [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 9,157 | 14,226 | 14,226 |
Provision for loan losses | 2,632 | 13,087 | 15,000 |
Loans charged off | -2,873 | -18,199 | -20,551 |
Recoveries of loans previously charged off | 18 | 32 | 482 |
Ending balance | 8,934 | 9,146 | 9,157 |
Real Estate - Commercial and Farmland [Member] | Period-End Amount Allocated to [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans individually evaluated for impairment | 1,997 | 2,315 | 2,228 |
Loans collectively evaluated for impairment | 6,937 | 6,831 | 6,929 |
Ending balance | 8,934 | 9,146 | 9,157 |
Real Estate - Commercial and Farmland [Member] | Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 14,605 | 21,552 | 21,332 |
Collectively evaluated for impairment | 784,544 | 691,688 | 710,990 |
Ending balance | 799,149 | 713,240 | 732,322 |
Real Estate - Residential [Member] | Loans Receivable [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 5,898 | 8,128 | 8,128 |
Provision for loan losses | 2,966 | 4,936 | 6,267 |
Loans charged off | -3,430 | -6,642 | -8,722 |
Recoveries of loans previously charged off | 520 | 199 | 225 |
Ending balance | 5,954 | 6,621 | 5,898 |
Real Estate - Residential [Member] | Period-End Amount Allocated to [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans individually evaluated for impairment | 1,429 | 2,105 | 1,056 |
Loans collectively evaluated for impairment | 4,525 | 4,516 | 4,842 |
Ending balance | 5,954 | 6,621 | 5,898 |
Real Estate - Residential [Member] | Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 16,919 | 15,178 | 13,020 |
Collectively evaluated for impairment | 339,001 | 328,154 | 333,460 |
Ending balance | 355,920 | 343,332 | 346,480 |
Consumer Installment Loans and Other [Member] | Loans Receivable [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 756 | 446 | 446 |
Provision for loan losses | 11 | 706 | 1,124 |
Loans charged off | -576 | -618 | -1,059 |
Recoveries of loans previously charged off | 241 | 197 | 245 |
Ending balance | 432 | 731 | 756 |
Consumer Installment Loans and Other [Member] | Period-End Amount Allocated to [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans collectively evaluated for impairment | 432 | 731 | 756 |
Ending balance | 432 | 731 | 756 |
Consumer Installment Loans and Other [Member] | Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 56,930 | 68,601 | 83,417 |
Ending balance | $56,930 | $68,601 | $83,417 |
Assets_Acquired_in_FDICAssiste2
Assets Acquired in FDIC-Assisted Acquisition - Additional Information (Detail) | 34 Months Ended |
Jul. 31, 2012 | |
Acquisition | |
Business Combinations [Abstract] | ' |
Number of FDIC-assisted acquisitions participation | 10 |
Assets_Acquired_in_FDICAssiste3
Assets Acquired in FDIC-Assisted Acquisitions - Schedule of Acquisition Details (Detail) | 34 Months Ended |
Jul. 31, 2012 | |
Entity | |
American United Bank (AUB) [Member] | ' |
Business Acquisition [Line Items] | ' |
Bank Acquired | 'American United Bank ("AUB") |
Branches | 1 |
Date Acquired | 23-Oct-09 |
United Security Bank (USB) [Member] | ' |
Business Acquisition [Line Items] | ' |
Bank Acquired | 'United Security Bank ("USB") |
Branches | 2 |
Date Acquired | 6-Nov-09 |
Satilla Community Bank (SCB) [Member] | ' |
Business Acquisition [Line Items] | ' |
Bank Acquired | 'Satilla Community Bank ("SCB") |
Branches | 1 |
Date Acquired | 14-May-10 |
First Bank of Jacksonville (FBJ) [Member] | ' |
Business Acquisition [Line Items] | ' |
Bank Acquired | 'First Bank of Jacksonville ("FBJ") |
Branches | 2 |
Date Acquired | 22-Oct-10 |
Tifton Banking Company (TBC) [Member] | ' |
Business Acquisition [Line Items] | ' |
Bank Acquired | 'Tifton Banking Company ("TBC") |
Branches | 1 |
Date Acquired | 12-Nov-10 |
Darby Bank & Trust (DBT) [Member] | ' |
Business Acquisition [Line Items] | ' |
Bank Acquired | 'Darby Bank & Trust ("DBT") |
Branches | 7 |
Date Acquired | 12-Nov-10 |
High Trust Bank (HTB) [Member] | ' |
Business Acquisition [Line Items] | ' |
Bank Acquired | 'High Trust Bank ("HTB") |
Branches | 2 |
Date Acquired | 15-Jul-11 |
One Georgia Bank (OGB) [Member] | ' |
Business Acquisition [Line Items] | ' |
Bank Acquired | 'One Georgia Bank ("OGB") |
Branches | 1 |
Date Acquired | 15-Jul-11 |
Central Bank of Georgia (CBG) [Member] | ' |
Business Acquisition [Line Items] | ' |
Bank Acquired | 'Central Bank of Georgia ("CBG") |
Branches | 5 |
Date Acquired | 24-Feb-12 |
Montgomery Bank & Trust (MBT) [Member] | ' |
Business Acquisition [Line Items] | ' |
Bank Acquired | 'Montgomery Bank & Trust ("MBT") |
Branches | 2 |
Date Acquired | 6-Jul-12 |
Assets_Acquired_in_FDICAssiste4
Assets Acquired in FDIC-Assisted Acquisitions - Components of Covered Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Covered loans | $482,259 | $641,451 | $699,229 |
Less: Credit risk adjustments | 64,307 | 132,983 | 151,999 |
Less: Liquidity and rate adjustments | 303 | 756 | 996 |
Total covered loans | 417,649 | 507,712 | 546,234 |
OREO | 64,184 | 105,347 | 106,979 |
Less: Fair value adjustments | 11,632 | 17,074 | 18,084 |
Total covered OREO | 52,552 | 88,273 | 88,895 |
Total covered assets | 470,201 | 595,985 | 635,129 |
FDIC indemnification asset | 81,763 | 159,724 | 198,440 |
American United Bank (AUB) [Member] | ' | ' | ' |
Covered loans | 19,336 | 27,169 | 28,955 |
Less: Credit risk adjustments | 915 | 2,481 | 2,532 |
Total covered loans | 18,421 | 24,688 | 26,423 |
OREO | 3,338 | 10,636 | 10,342 |
Less: Fair value adjustments | 3 | 102 | ' |
Total covered OREO | 3,335 | 10,534 | 10,342 |
Total covered assets | 21,756 | 35,222 | 36,765 |
FDIC indemnification asset | 3,704 | 2,905 | 3,256 |
United Security Bank (USB) [Member] | ' | ' | ' |
Covered loans | 21,168 | 27,286 | 33,145 |
Less: Credit risk adjustments | 1,665 | 4,320 | 5,036 |
Total covered loans | 19,503 | 22,966 | 28,109 |
OREO | 3,066 | 7,087 | 7,641 |
Less: Fair value adjustments | 139 | 99 | 99 |
Total covered OREO | 2,927 | 6,988 | 7,542 |
Total covered assets | 22,430 | 29,954 | 35,651 |
FDIC indemnification asset | 2,796 | 6,619 | 8,408 |
Satilla Community Bank (SCB) [Member] | ' | ' | ' |
Covered loans | 35,555 | 41,389 | 44,340 |
Less: Credit risk adjustments | 1,902 | 3,285 | 3,892 |
Total covered loans | 33,653 | 38,104 | 40,448 |
OREO | 5,348 | 10,686 | 10,464 |
Less: Fair value adjustments | 429 | 654 | 646 |
Total covered OREO | 4,919 | 10,032 | 9,818 |
Total covered assets | 38,572 | 48,136 | 50,266 |
FDIC indemnification asset | 4,020 | 6,133 | 6,130 |
First Bank of Jacksonville (FBJ) [Member] | ' | ' | ' |
Covered loans | 27,222 | 32,574 | 33,312 |
Less: Credit risk adjustments | 3,965 | 6,204 | 6,299 |
Less: Liquidity and rate adjustments | ' | 27 | 43 |
Total covered loans | 23,257 | 26,343 | 26,970 |
OREO | 1,582 | 3,260 | 3,407 |
Less: Fair value adjustments | 170 | 526 | 572 |
Total covered OREO | 1,412 | 2,734 | 2,835 |
Total covered assets | 24,669 | 29,077 | 29,805 |
FDIC indemnification asset | 4,990 | 6,589 | 6,731 |
Darby Bank & Trust (DBT) [Member] | ' | ' | ' |
Covered loans | 116,685 | 169,527 | 186,815 |
Less: Credit risk adjustments | 21,739 | 41,631 | 47,598 |
Less: Liquidity and rate adjustments | ' | 207 | 331 |
Total covered loans | 94,946 | 127,689 | 138,886 |
OREO | 19,720 | 30,395 | 33,404 |
Less: Fair value adjustments | 1,639 | 2,160 | 2,798 |
Total covered OREO | 18,081 | 28,235 | 30,606 |
Total covered assets | 113,027 | 155,924 | 169,492 |
FDIC indemnification asset | 23,955 | 47,012 | 63,789 |
Tifton Banking Company (TBC) [Member] | ' | ' | ' |
Covered loans | 35,588 | 46,796 | 51,084 |
Less: Credit risk adjustments | 2,519 | 4,979 | 5,790 |
Less: Liquidity and rate adjustments | 54 | 173 | 212 |
Total covered loans | 33,015 | 41,644 | 45,082 |
OREO | 5,912 | 11,089 | 10,110 |
Less: Fair value adjustments | 843 | 1,381 | 1,533 |
Total covered OREO | 5,069 | 9,708 | 8,577 |
Total covered assets | 38,084 | 51,352 | 53,659 |
FDIC indemnification asset | 4,315 | 8,073 | 15,559 |
High Trust Bank (HTB) [Member] | ' | ' | ' |
Covered loans | 70,156 | 90,602 | 95,904 |
Less: Credit risk adjustments | 8,232 | 16,072 | 18,727 |
Less: Liquidity and rate adjustments | 41 | 52 | 56 |
Total covered loans | 61,883 | 74,478 | 77,121 |
OREO | 6,998 | 13,980 | 15,219 |
Less: Fair value adjustments | 2,445 | 4,954 | 5,766 |
Total covered OREO | 4,553 | 9,026 | 9,453 |
Total covered assets | 66,436 | 83,504 | 86,574 |
FDIC indemnification asset | 11,065 | 20,020 | 23,698 |
One Georgia Bank (OGB) [Member] | ' | ' | ' |
Covered loans | 63,794 | 81,908 | 86,091 |
Less: Credit risk adjustments | 6,658 | 17,127 | 18,719 |
Less: Liquidity and rate adjustments | 108 | 136 | 146 |
Total covered loans | 57,028 | 64,645 | 67,226 |
OREO | 9,921 | 9,168 | 7,874 |
Less: Fair value adjustments | 3,918 | 4,078 | 3,663 |
Total covered OREO | 6,003 | 5,090 | 4,211 |
Total covered assets | 63,031 | 69,735 | 71,437 |
FDIC indemnification asset | 9,458 | 16,871 | 21,419 |
Central Bank of Georgia (CBG) [Member] | ' | ' | ' |
Covered loans | 92,755 | 124,200 | 139,583 |
Less: Credit risk adjustments | 16,712 | 36,884 | 43,406 |
Less: Liquidity and rate adjustments | 100 | 161 | 208 |
Total covered loans | 75,943 | 87,155 | 95,969 |
OREO | 8,299 | 9,046 | 8,518 |
Less: Fair value adjustments | 2,046 | 3,120 | 3,007 |
Total covered OREO | 6,253 | 5,926 | 5,511 |
Total covered assets | 82,196 | 93,081 | 101,480 |
FDIC indemnification asset | $17,460 | $45,502 | $49,450 |
Assets_Acquired_in_FDICAssiste5
Assets Acquired in FDIC-Assisted Acquisitions - Loan-by-Loan Basis Performance of Fair Value Adjustments (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Statement Of Partners Capital [Abstract] | ' | ' | ' |
Adjustments needed where the Company's initial estimate of cash flows were underestimated: (recorded with a reclassification from non-accretable difference to accretable discount) | $50,703 | $16,210 | $23,050 |
Adjustments needed where the Company's initial estimate of cash flows were overstated: (recorded through a provision for loan losses) | 6,305 | 11,435 | 13,190 |
Adjustments needed where the Company's initial estimate of cash flows were underestimated: (recorded with a reclassification from non-accretable difference to accretable discount) | 10,141 | 3,242 | 4,610 |
Adjustments needed where the Company's initial estimate of cash flows were overstated: (recorded through a provision for loan losses) | $1,261 | $2,287 | $2,638 |
Assets_Acquired_in_FDICAssiste6
Assets Acquired in FDIC-Assisted Acquisitions - Rollforward of Acquired Loans Deterioration of Credit Quality (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Loans with Deterioration of Credit Quality [Member] | Loans with Deterioration of Credit Quality [Member] | Loans with Deterioration of Credit Quality [Member] | Loans without Deterioration of Credit Quality [Member] | Loans without Deterioration of Credit Quality [Member] | Loans without Deterioration of Credit Quality [Member] | |||||||
Balance, beginning of year | $29,537 | $29,537 | $30,849 | $16,698 | $19,369 | ' | $282,737 | $307,790 | $307,790 | $228,602 | $266,966 | $266,966 |
Change in estimate of cash flows, net of charge-offs or recoveries | ' | ' | ' | ' | ' | ' | 30,371 | -7,119 | -17,712 | 11,554 | 3,861 | 1,376 |
Additions due to acquisitions | 9,863 | 9,863 | ' | ' | ' | ' | ' | 73,414 | 73,414 | ' | 51,367 | 51,368 |
Other (loan payments, transfers, etc.) | ' | ' | ' | ' | ' | ' | -81,519 | -70,402 | -80,755 | -53,870 | -72,755 | -91,108 |
Balance, end of year | $198,440 | $159,724 | $81,763 | ' | ' | $242,394 | $231,589 | $303,683 | $282,737 | $186,286 | $249,439 | $228,602 |
Assets_Acquired_in_FDICAssiste7
Assets Acquired in FDIC-Assisted Acquisitions - Schedule of Changes in Accretable Discount Related Acquired Loan (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Transfers And Servicing [Abstract] | ' | ' | ' |
Balance, beginning of year | $16,698 | $29,537 | $29,537 |
Additions due to acquisitions | ' | 9,863 | 9,863 |
Accretion | -36,552 | -36,241 | -45,752 |
Other activity, net | 50,703 | 16,210 | 23,050 |
Balance, end of year | $30,849 | $19,369 | $16,698 |
Assets_Acquired_in_FDICAssiste8
Assets Acquired in FDIC-Assisted Acquisitions - Changes in FDIC Shared Loss Receivable (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Banking And Thrift [Abstract] | ' | ' | ' |
Balance, beginning of year | $159,724 | $242,394 | $242,394 |
Indemnification asset recorded in acquisitions | ' | 52,654 | 52,654 |
Payments received from FDIC | -58,240 | -97,399 | -128,730 |
Effect of change in expected cash flows on covered assets | -19,721 | 791 | -6,594 |
Balance, end of year | $81,763 | $198,440 | $159,724 |
Weighted_Average_Shares_Outsta2
Weighted Average Shares Outstanding - Summary of Weighted Average Number of Shares (Detail) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Basic shares outstanding | 23,901 | 23,819 | 23,883 | 23,800 |
Plus: Dilutive effect of ISOs | 62 | 105 | 62 | 105 |
Plus: Dilutive effect of Restricted grants | 353 | 49 | 353 | 49 |
Diluted shares outstanding | 24,316 | 23,973 | 24,298 | 23,954 |
Other_Borrowings_Additional_In
Other Borrowings - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Debt Disclosure [Abstract] | ' | ' | ' |
Outstanding borrowings | $5,000 | $0 | $0 |
Commitments_Summary_of_Commitm
Commitments - Summary of Commitments to Extend Credit and Standby Letters of Credit (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' |
Commitments to extend credit | $208,303 | $180,733 | $145,936 |
Standby letters of credit | $6,954 | $6,788 | $9,367 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income - Summary of Accumulated Other Comprehensive Income (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Beginning balance | $6,607 | $7,296 |
Reclassification for gains included in net income | -111 | ' |
Current year changes | -7,027 | 41 |
Ending balance | -531 | 7,337 |
Unrealized Gain (Loss) on Derivatives [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Beginning balance | -23 | 856 |
Current year changes | 1,098 | -976 |
Ending balance | 1,075 | -120 |
Unrealized Gain (Loss) on Securities [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Beginning balance | 6,630 | 6,440 |
Reclassification for gains included in net income | -111 | ' |
Current year changes | -8,125 | 1,017 |
Ending balance | ($1,606) | $7,457 |
Segment_Reporting_Schedule_of_
Segment Reporting - Schedule of Financial Information with Respect to Company's Reportable Business Segments (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net interest income | $29,320 | $28,238 | $87,134 | $84,846 | ' |
Provision for loan losses | 2,920 | 6,540 | 10,008 | 26,647 | ' |
Noninterest income | 12,288 | 9,831 | 35,032 | 45,970 | ' |
Noninterest expense | ' | ' | ' | ' | ' |
Salaries and employee benefits | 14,412 | 13,766 | 41,599 | 37,337 | ' |
Equipment and occupancy expenses | 3,149 | 3,340 | 9,058 | 9,555 | ' |
Data processing and telecommunications expenses | 3,072 | 2,599 | 8,478 | 7,429 | ' |
Other expenses | 8,116 | 8,320 | 25,186 | 35,358 | ' |
Total noninterest expense | 28,749 | 28,810 | 84,321 | 89,679 | ' |
Income before income tax expense | 9,939 | 2,719 | 27,837 | 14,490 | ' |
Income tax expense | 3,262 | 816 | 9,197 | 4,727 | ' |
Net income | 6,677 | 1,903 | 18,640 | 9,763 | ' |
Less preferred stock dividends | 443 | 827 | 1,326 | 2,459 | ' |
Net income available to common shareholders | 6,234 | 1,076 | 17,314 | 7,304 | ' |
Total assets | 2,818,502 | 2,949,383 | 2,818,502 | 2,949,383 | 3,019,052 |
Stockholders' equity | 290,356 | 299,206 | 290,356 | 299,206 | 279,017 |
Retail Banking [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net interest income | 28,089 | 27,953 | 84,372 | 84,243 | ' |
Provision for loan losses | 2,920 | 6,540 | 10,008 | 26,647 | ' |
Noninterest income | 7,054 | 6,091 | 20,333 | 37,749 | ' |
Noninterest expense | ' | ' | ' | ' | ' |
Salaries and employee benefits | 10,799 | 11,446 | 32,314 | 32,435 | ' |
Equipment and occupancy expenses | 3,029 | 3,190 | 8,575 | 9,250 | ' |
Data processing and telecommunications expenses | 2,908 | 2,510 | 8,013 | 7,222 | ' |
Other expenses | 7,473 | 8,706 | 22,807 | 34,470 | ' |
Total noninterest expense | 24,209 | 25,852 | 71,709 | 83,377 | ' |
Income before income tax expense | 8,014 | 1,652 | 22,988 | 11,968 | ' |
Income tax expense | 2,588 | 443 | 7,500 | 3,845 | ' |
Net income | 5,426 | 1,209 | 15,488 | 8,123 | ' |
Less preferred stock dividends | 443 | 827 | 1,326 | 2,459 | ' |
Net income available to common shareholders | 4,983 | 382 | 14,162 | 5,664 | ' |
Total assets | 2,707,200 | 2,947,004 | 2,707,200 | 2,947,004 | ' |
Stockholders' equity | 250,863 | 299,221 | 250,863 | 299,221 | ' |
Mortgage Banking [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net interest income | 1,231 | 285 | 2,762 | 603 | ' |
Noninterest income | 5,234 | 3,740 | 14,699 | 8,221 | ' |
Noninterest expense | ' | ' | ' | ' | ' |
Salaries and employee benefits | 3,613 | 2,320 | 9,285 | 4,902 | ' |
Equipment and occupancy expenses | 120 | 150 | 483 | 305 | ' |
Data processing and telecommunications expenses | 164 | 89 | 465 | 207 | ' |
Other expenses | 643 | 9,105 | 2,379 | 888 | ' |
Total noninterest expense | 4,540 | 2,958 | 12,612 | 6,302 | ' |
Income before income tax expense | 1,925 | 1,067 | 4,849 | 2,522 | ' |
Income tax expense | 674 | 373 | 1,697 | 882 | ' |
Net income | 1,251 | 694 | 3,152 | 1,640 | ' |
Net income available to common shareholders | 1,251 | 694 | 3,152 | 1,640 | ' |
Total assets | 111,302 | 2,379 | 111,302 | 2,379 | ' |
Stockholders' equity | $39,493 | ($15) | $39,493 | ($15) | ' |