Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 30, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | ABCB | |
Entity Registrant Name | Ameris Bancorp | |
Entity Central Index Key | 351569 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 32,184,976 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Assets | |||
Cash and due from banks | $80,142 | $78,036 | $71,387 |
Federal funds sold and interest-bearing accounts | 126,157 | 92,323 | 48,677 |
Investment securities available for sale, at fair value | 610,330 | 541,805 | 456,713 |
Other investments | 8,636 | 10,275 | 9,322 |
Mortgage loans held for sale, at fair value | 73,796 | 94,759 | 51,693 |
Loans, net of unearned income | 1,999,420 | 1,889,881 | 1,695,382 |
Purchased loans not covered by FDIC loss share agreements ("purchased non-covered loans") | 643,092 | 674,239 | 437,269 |
Purchased loans covered by FDIC loss share agreements ("covered loans") | 245,745 | 271,279 | 372,694 |
Less: allowance for loan losses | -21,852 | -21,157 | -22,744 |
Loans, net | 2,866,405 | 2,814,242 | 2,482,601 |
Other real estate owned | 32,339 | 33,160 | 33,839 |
Purchased, non-covered other real estate owned, net | 13,818 | 15,585 | 3,864 |
Covered other real estate owned, net | 16,089 | 19,907 | 42,636 |
Total other real estate owned, net | 62,246 | 68,652 | 80,339 |
Premises and equipment, net | 98,292 | 97,251 | 87,430 |
FDIC loss-share receivable | 23,312 | 31,351 | 53,181 |
Other intangible assets, net | 7,591 | 8,221 | 5,477 |
Goodwill | 63,547 | 63,547 | 35,049 |
Cash value of bank owned life insurance | 59,212 | 58,867 | 49,738 |
Other assets | 73,238 | 77,748 | 56,377 |
Total assets | 4,152,904 | 4,037,077 | 3,487,984 |
Liabilities | |||
Noninterest-bearing | 967,015 | 839,377 | 698,866 |
Interest-bearing | 2,513,216 | 2,591,772 | 2,311,781 |
Total deposits | 3,480,231 | 3,431,149 | 3,010,647 |
Securities sold under agreements to repurchase | 55,520 | 73,310 | 49,974 |
Other borrowings | 43,851 | 78,881 | 59,677 |
Other liabilities | 17,952 | 22,384 | 12,028 |
Subordinated deferrable interest debentures | 65,567 | 65,325 | 55,628 |
Total liabilities | 3,663,121 | 3,671,049 | 3,187,954 |
Stockholders' Equity | |||
Preferred stock, stated value $1,000; 5,000,000 shares authorized; 0 shares issued and outstanding | |||
Common stock, par value $1; 100,000,000 shares authorized; 33,592,585, 28,159,027 and 26,535,571 shares issued | 33,593 | 28,159 | 26,536 |
Capital surplus | 335,578 | 225,015 | 190,513 |
Retained earnings | 126,566 | 118,412 | 92,055 |
Accumulated other comprehensive income | 6,353 | 6,098 | 2,374 |
Treasury stock, at cost, 1,410,442, 1,385,164 and 1,376,498 shares | -12,307 | -11,656 | -11,448 |
Total stockholders' equity | 489,783 | 366,028 | 300,030 |
Total liabilities and stockholders' equity | $4,152,904 | $4,037,077 | $3,487,984 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
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 | 0 | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 | 0 |
Common stock, par value | $1 | $1 | $1 |
Common stock, shares authorized | 100,000,000 | 100,000,000 | 100,000,000 |
Common stock, shares issued | 33,592,585 | 28,159,027 | 26,535,571 |
Treasury stock, shares | 0 | 1,385,164 | 1,376,498 |
Consolidated_Statements_of_Ear
Consolidated Statements of Earnings and Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Interest income | ||
Interest and fees on loans | $38,618 | $34,469 |
Interest on taxable securities | 3,153 | 2,985 |
Interest on nontaxable securities | 469 | 335 |
Interest on deposits in other banks and federal funds sold | 128 | 84 |
Total interest income | 42,368 | 37,873 |
Interest expense | ||
Interest on deposits | 2,280 | 2,183 |
Interest on other borrowings | 1,256 | 1,206 |
Total interest expense | 3,536 | 3,389 |
Net interest income | 38,832 | 34,484 |
Provision for loan losses | 1,069 | 1,726 |
Net interest income after provision for loan losses | 37,763 | 32,758 |
Noninterest income | ||
Service charges on deposit accounts | 6,429 | 5,586 |
Mortgage banking activity | 8,083 | 5,068 |
Other service charges, commissions and fees | 668 | 652 |
Gain on sale of securities | 12 | 6 |
Other noninterest income | 2,383 | 1,442 |
Total noninterest income | 17,575 | 12,754 |
Noninterest expense | ||
Salaries and employee benefits | 20,632 | 17,394 |
Occupancy and equipment expense | 4,554 | 4,064 |
Advertising and marketing expense | 641 | 710 |
Amortization of intangible assets | 630 | 533 |
Data processing and communications costs | 4,260 | 3,454 |
Credit resolution related expenses | 3,161 | 2,190 |
Merger and conversion charges | 15 | 450 |
Other noninterest expenses | 6,934 | 4,444 |
Total noninterest expense | 40,827 | 33,239 |
Income before income tax expense | 14,511 | 12,273 |
Income tax expense | 4,747 | 3,923 |
Net income | 9,764 | 8,350 |
Less preferred stock dividends and discount accretion | 286 | |
Net income available to common stockholders | 9,764 | 8,064 |
Other comprehensive income (loss) | ||
Unrealized holding gains arising during period on investment securities available for sale, net of tax of $350 and $1,582 | 650 | 2,938 |
Reclassification adjustment for gains included in earnings, net of tax of $4 and $2 | -8 | -4 |
Unrealized loss on cash flow hedges arising during period , net of tax of $208 and $143 | -387 | -266 |
Other comprehensive income | 255 | 2,668 |
Total comprehensive income | $10,019 | $11,018 |
Basic and diluted earnings per common share | $0.32 | $0.32 |
Dividends declared per common share | $0.05 | |
Weighted average common shares outstanding | ||
Basic | 30,443 | 25,144 |
Diluted | 30,796 | 25,573 |
Consolidated_Statements_of_Ear1
Consolidated Statements of Earnings and Comprehensive Income (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Income Statement [Abstract] | ||
Unrealized holding gain (loss) arising during period on investment securities available for sale, net of tax | $350 | $1,582 |
Reclassification adjustment for losses (gains) included in earnings, net of tax | 4 | 2 |
Unrealized gain (loss) on cash flow hedges arising during period, net of tax | $208 | $143 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (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, 2013 | $28,000 | $26,462 | $189,722 | $83,991 | ($294) | ($11,182) | |
Balance at beginning of period, shares at Dec. 31, 2013 | -1,363,342 | ||||||
Balance at beginning of period, shares at Dec. 31, 2013 | 28,000 | 26,461,769 | |||||
Stock-based compensation | 795 | ||||||
Net income | 8,350 | 8,350 | |||||
Other comprehensive income during the period | 2,668 | 2,668 | |||||
Repurchase of preferred stock | -28,000 | ||||||
Purchase of treasury shares | -266 | ||||||
Dividends on preferred shares | -286 | ||||||
Issuance of common shares, amount | -68 | ||||||
Repurchase of preferred stock, shares | -28,000 | ||||||
Purchase of treasury shares, shares | -13,156 | ||||||
Issuance of restricted shares | 68 | -68 | |||||
Issuance of restricted shares, shares | 68,047 | ||||||
Proceeds from exercise of stock options | 6 | 64 | |||||
Proceeds from exercise of stock options, shares | 5,755 | ||||||
Balance at end of period at Mar. 31, 2014 | 300,030 | 26,536 | 190,513 | 92,055 | 2,374 | -11,448 | |
Balance at end of period, shares at Mar. 31, 2014 | 1,376,498 | -1,376,498 | |||||
Balance at end of period, shares at Mar. 31, 2014 | 26,535,571 | ||||||
Balance at beginning of period at Dec. 31, 2014 | 366,028 | 28,159 | 225,015 | 118,412 | 6,098 | -11,656 | |
Balance at beginning of period, shares at Dec. 31, 2014 | 1,385,164 | -1,385,164 | |||||
Balance at beginning of period, shares at Dec. 31, 2014 | 28,159,027 | ||||||
Stock-based compensation | 380 | ||||||
Net income | 9,764 | 9,764 | |||||
Other comprehensive income during the period | 255 | 255 | |||||
Purchase of treasury shares | -651 | ||||||
Issuance of common shares, amount | 5,320 | 109,569 | |||||
Purchase of treasury shares, shares | -25,278 | ||||||
Dividends on common shares | -1,610 | ||||||
Issuance of common shares,shares | 5,320,000 | ||||||
Issuance of restricted shares | 71 | -71 | |||||
Issuance of restricted shares, shares | 71,000 | ||||||
Proceeds from exercise of stock options | 43 | 685 | |||||
Proceeds from exercise of stock options, shares | 42,558 | ||||||
Balance at end of period at Mar. 31, 2015 | $489,783 | $33,593 | $335,578 | $126,566 | $6,353 | ($12,307) | |
Balance at end of period, shares at Mar. 31, 2015 | 0 | -1,410,442 | |||||
Balance at end of period, shares at Mar. 31, 2015 | 33,592,585 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) (Capital Surplus [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Capital Surplus [Member] | ||
Net issuance cost | $4,811 | $4,811 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash flows from operating activities: | ||
Net income | $9,764 | $8,350 |
Adjustments reconciling net income to net cash provided by operating activities: | ||
Depreciation | 1,938 | 1,871 |
Amortization of intangible assets | 630 | 533 |
Net amortization of investment securities available for sale | 1,158 | 808 |
Net gains on securities available for sale | -12 | -6 |
Stock based compensation expense | 380 | 795 |
Net (gains) losses on sale or disposal of premises and equipment | 89 | -18 |
Net write-downs and losses on sale of other real estate owned | 1,834 | 921 |
Provision for loan losses | 1,069 | 1,726 |
Accretion of discount on covered loans | -4,466 | -9,767 |
Accretion of discount on purchased non-covered loans | -3,111 | -1,023 |
Changes in FDIC loss-share receivable, net of cash payments received | 3,899 | 5,487 |
Increase in cash surrender value of BOLI | -345 | -306 |
Originations of mortgage loans held for sale | -186,332 | -131,959 |
Proceeds from sales of mortgage loans held for sale | 195,554 | 139,503 |
Originations of SBA loans | -17,185 | -8,039 |
Proceeds from sales of SBA loans | 8,163 | 1,057 |
Net gains on sale of SBA loans | -909 | -134 |
Change attributable to other operating activities | 170 | 2,795 |
Net cash provided by operating activities | 12,288 | 12,593 |
Cash flows from investing activities: | ||
Net decrease (increase) in federal funds sold and interest-bearing deposits | -33,834 | 156,307 |
Purchase of securities available for sale | -89,811 | -46,690 |
Proceeds from maturities of securities available for sale | 16,022 | 11,026 |
Proceeds from sales of securities available for sale | 5,118 | 68,899 |
Decrease in restricted equity securities, net | 1,639 | 7,506 |
Net increase in loans, excluding purchased non-covered and covered loans | -90,716 | -61,369 |
Payments received on purchased non-covered loans | 32,920 | 12,439 |
Payments received on covered loans | 25,958 | 18,070 |
Purchases of premises and equipment | -2,999 | -464 |
Proceeds from sales of premises and equipment | 173 | 55 |
Proceeds from sales of other real estate owned | 9,340 | 8,932 |
Payments received from FDIC under loss-share agreements | 6,390 | 6,773 |
Net cash provided by (used in) investing activities | -119,800 | 181,484 |
Cash flows from financing activities: | ||
Net increase in deposits | 49,082 | 11,416 |
Net decrease in securities sold under agreements to repurchase | -17,790 | -33,542 |
Proceeds from other borrowings | 29,963 | |
Repayment of other borrowings | -35,030 | -165,000 |
Redemption of preferred stock | -28,000 | |
Dividends paid - preferred stock | -286 | |
Dividends paid - common | -1,610 | |
Purchase of treasury shares | -651 | -266 |
Issuance of common stock | 114,889 | |
Proceeds from exercise of stock options | 728 | 70 |
Net cash provided by (used in) financing activities | 109,618 | -185,645 |
Net increase in cash and due from banks | 2,106 | 8,432 |
Cash and due from banks at beginning of period | 78,036 | 62,955 |
Cash and due from banks at end of period | 80,142 | 71,387 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH INFORMATION | ||
Interest | 3,741 | 3,463 |
Income taxes | 215 | |
Loans (excluding purchased non-covered and covered loans) transferred to other real estate owned | 2,444 | 2,554 |
Purchased non-covered loans transferred to other real estate owned | 1,094 | 68 |
Covered loans transferred to other real estate owned | 1,230 | 4,925 |
Loans provided for the sales of other real estate owned | 1,573 | 333 |
Change in unrealized gain on securities available for sale | 642 | 2,934 |
Change in unrealized loss on cash flow hedge (interest rate swap) | ($387) | ($266) |
Basis_of_Presentation_and_Acco
Basis of Presentation and Accounting Policies | 3 Months Ended |
Mar. 31, 2015 | |
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 March 31, 2015 the Bank operated 73 branches in select markets in Georgia, Alabama, Florida and South Carolina. Our business model capitalizes on the efficiencies of a large financial services company while still providing the community with the personalized banking service expected by our customers. We manage our Bank through a balance of decentralized management responsibilities and efficient centralized operating systems, products and loan underwriting standards. The Company’s Board of Directors and senior managers establish corporate policy, strategy and administrative policies. Within our established guidelines and policies, the banker closest to the customer responds to the differing needs and demands of his or her unique market. | |
The accompanying unaudited consolidated financial statements for Ameris have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statement presentation. The interim consolidated financial statements included herein are unaudited but reflect all adjustments (consisting of normal recurring accruals) which, in the opinion of management, are necessary for a fair presentation of the consolidated financial position and results of operations for the interim periods presented. All significant intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the period ended March 31, 2015 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, 2014. | |
Newly Adopted Accounting Pronouncements | |
ASU 2015-03 – Interest – Imputation of Interest (“ASU 2015-03”). ASU 2015-03 simplifies presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts. ASU 2015-03 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, and early adoption is permitted. It should be applied on a retrospective basis. The Company is currently evaluating the impact this standard will have on the Company’s results of operations, financial position or disclosures. | |
ASU 2015-02 “Consolidation (Topic 810) - Amendments to the Consolidation Analysis.” ASU 2015-02 includes amendments that are intended to improve targeted areas of consolidation for legal entities including reducing the number of consolidation models from four to two and simplifying the FASB Accounting Standards Codification. ASU 2015-02 is effective for annual and interim periods within those annual periods, beginning after December 15, 2015. The amendments may be applied retrospectively in previously issued financial statements for one or more years with a cumulative effect adjustment to retained earnings as of the beginning of the first year restated. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact this standard will have on the Company’s results of operations, financial position or disclosures. | |
ASU 2015-01- Income Statement – Extraordinary and Unusual Items (“ASU 2015-01”). ASU 2015-01 eliminates the concept of extraordinary items by no longer allowing companies to segregate an extraordinary item from the results of operations, separately present an extraordinary item on the income statement, or disclose income taxes or earnings-per-share data applicable to an extraordinary item. ASU 2015-01 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, and early adoption is permitted. The adoption of this standard is not expected to have a material effect on the Company’s results of operations, financial position or disclosures. | |
ASU 2014-09 – Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 provides guidance that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective prospectively, for annual and interim periods, beginning after December 15, 2016. The Company is currently evaluating the impact this standard will have on the Company’s results of operations, financial position or disclosures. |
Pending_Merger_and_Acquisition
Pending Merger and Acquisition | 3 Months Ended |
Mar. 31, 2015 | |
Business Combinations [Abstract] | |
Pending Merger and Acquisition | NOTE 2 – PENDING MERGER AND ACQUISITIONS |
On January 28, 2015, the Company entered into a Stock Purchase Agreement (the “Purchase Agreement”) with Merchants & Southern Banks of Florida, Incorporated, a Florida corporation (“Merchants”), and Dennis R. O’Neil, the sole shareholder of Merchants. Merchants and Southern Bank is a wholly owned banking subsidiary of Merchants that has a total of thirteen banking locations in Alachua, Marion and Clay Counties, Florida. Pursuant to the terms of the Purchase Agreement, the Company will purchase all of the issued and outstanding shares of common stock of Merchants for a total purchase price of $50,000,000. As of December 31, 2014, Merchants reported assets of $473 million, gross loans of $214 million and deposits of $336 million. The purchase price will be allocated among the net assets of Merchants acquired as appropriate, with the remaining balance being reported as goodwill. Consummation of the acquisition is subject to customary conditions. The Company has received regulatory approval and expects to close the transaction on May 22, 2015. | |
On January 28, 2015, the Bank entered into a Purchase and Assumption Agreement (the “P&A Agreement”) with Bank of America, National Association pursuant to which the Bank has agreed to purchase, subject to the terms and conditions set forth in the P&A Agreement, eighteen branches of Bank of America, National Association located in Calhoun, Columbia, Dixie, Hamilton, Suwanee and Walton Counties, Florida and Ben Hill, Colquitt, Dougherty, Laurens, Liberty, Thomas, Tift and Ware Counties, Georgia. The Bank will assume an estimated $864 million of deposits at a deposit premium of 3.00 percent based on deposit balances near the time the transaction closes and is expected to record a core deposit intangible asset related to the deposits. The Bank will also acquire an immaterial amount of performing loans and premise and equipment as part of the transaction. Consummation of the acquisition is subject to customary conditions. The Company has received regulatory approvals and expects to close the transaction on June 12, 2015. |
Business_Combinations
Business Combinations | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Business Combinations [Abstract] | |||||||||||||||||
Business Combinations | NOTE 3 – BUSINESS COMBINATIONS | ||||||||||||||||
On June 30, 2014, the Company completed its acquisition of The Coastal Bankshares, Inc. (“Coastal”), a bank holding company headquartered in Savannah, Georgia. Upon consummation of the acquisition, Coastal was merged with and into the Company, with Ameris as the surviving entity in the merger. At that time, Coastal’s wholly owned banking subsidiary, The Coastal Bank (“Coastal Bank”), was also merged with and into the Bank. The acquisition grew the Company’s existing market presence, as Coastal Bank had a total of six banking locations in Chatham, Liberty and Effingham Counties, Georgia. Coastal’s common shareholders received 0.4671 of a share of the Company’s common stock in exchange for each share of Coastal’s common stock. As a result, the Company issued 1,598,998 common shares at a fair value of $34.5 million and paid $2.8 million cash in exchange for outstanding warrants. | |||||||||||||||||
The acquisition of Coastal was accounted for using the purchase method of accounting in accordance with FASB ASC 805, Business Combinations. Assets acquired, liabilities assumed and consideration exchanged were recorded at their respective acquisition date fair values. Determining the fair value of assets and liabilities is a complicated process involving significant judgment regarding methods and assumptions used to calculate estimated fair values. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding the closing date fair values becomes available. During the third quarter of 2014, management revised its initial estimates regarding the valuation of other real estate owned. In addition, during the third and fourth quarters of 2014, management continued its assessment and recorded the deferred tax assets resulting from differences in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for income tax purposes. This estimate also reflects acquired net operating loss carryforwards and other acquired assets with built-in losses that are expected to be settled or otherwise recovered in future periods where the realization of such benefits would be subject to applicable limitations under Sections 382 of the Internal Revenue Code of 1986, as amended. Management continues to evaluate fair value adjustments related to deferred tax assets, pending the filing of the final tax return for Coastal. | |||||||||||||||||
The following table presents the assets acquired and liabilities of Coastal assumed as of June 30, 2014 and their fair value estimates: | |||||||||||||||||
(Dollars in Thousands) | As Recorded by | Initial Fair | Subsequent | As Recorded | |||||||||||||
Coastal | Value | Fair Value | by Ameris | ||||||||||||||
Adjustments | Adjustments | ||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents | $ | 3,895 | $ | — | $ | — | $ | 3,895 | |||||||||
Federal funds sold and interest-bearing balances | 15,923 | — | — | 15,923 | |||||||||||||
Investment securities | 67,266 | (500 | )(a) | — | 66,766 | ||||||||||||
Other investments | 975 | — | — | 975 | |||||||||||||
Mortgage loans held for sale | 7,288 | — | — | 7,288 | |||||||||||||
Loans | 296,141 | (16,700 | )(b) | — | 279,441 | ||||||||||||
Less allowance for loan losses | (3,218 | ) | 3,218 | (c) | — | — | |||||||||||
Loans, net | 292,923 | (13,482 | ) | — | 279,441 | ||||||||||||
Other real estate owned | 14,992 | (3,528 | )(d) | (2,600 | )(g) | 8,864 | |||||||||||
Premises and equipment | 11,882 | — | — | 11,882 | |||||||||||||
Intangible assets | 507 | 4,266 | (e) | (231 | )(h) | 4,542 | |||||||||||
Cash value of bank owned life insurance | 7,812 | — | — | 7,812 | |||||||||||||
Other assets | 14,898 | — | (752 | )(i) | 14,146 | ||||||||||||
Total assets | $ | 438,361 | $ | (13,244 | ) | $ | (3,583 | ) | $ | 421,534 | |||||||
Liabilities | |||||||||||||||||
Deposits: | |||||||||||||||||
Noninterest-bearing | $ | 80,012 | $ | — | $ | — | $ | 80,012 | |||||||||
Interest-bearing | 289,012 | — | — | 289,012 | |||||||||||||
Total deposits | 369,024 | — | — | 369,024 | |||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 5,428 | — | — | 5,428 | |||||||||||||
Other borrowings | 22,005 | — | — | 22,005 | |||||||||||||
Other liabilities | 6,192 | — | — | 6,192 | |||||||||||||
Subordinated deferrable interest debentures | 15,465 | (6,413 | )(f) | — | 9,052 | ||||||||||||
Total liabilities | 418,114 | (6,413 | ) | — | 411,701 | ||||||||||||
Net identifiable assets acquired over (under) liabilities assumed | 20,247 | (6,831 | ) | (3,583 | ) | 9,833 | |||||||||||
Goodwill | — | 23,854 | 3,583 | 27,437 | |||||||||||||
Net assets acquired over (under) liabilities assumed | $ | 20,247 | $ | 17,023 | $ | — | $ | 37,270 | |||||||||
Consideration: | |||||||||||||||||
Ameris Bancorp common shares issued | 1,598,998 | ||||||||||||||||
Purchase price per share of the Company’s common stock | $ | 21.56 | |||||||||||||||
Company common stock issued | 34,474 | ||||||||||||||||
Cash exchanged for shares | 2,796 | ||||||||||||||||
Fair value of total consideration transferred | $ | 37,270 | |||||||||||||||
Explanation of fair value adjustments | |||||||||||||||||
(a) | Adjustment reflects the fair value adjustments of the available for sale portfolio as of the acquisition date. | ||||||||||||||||
(b) | Adjustment reflects the fair value adjustments based on the Company’s evaluation of the acquired loan portfolio. | ||||||||||||||||
(c) | Adjustment reflects the elimination of Coastal’s allowance for loan losses. | ||||||||||||||||
(d) | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired OREO portfolio. | ||||||||||||||||
(e) | Adjustment reflects the recording of core deposit intangible on the acquired core deposit accounts. | ||||||||||||||||
(f) | Adjustment reflects the fair value adjustment to the subordinated deferrable interest debentures at the acquisition date. | ||||||||||||||||
(g) | Adjustment reflects the additional fair value adjustment based on the Company’s evaluation of the acquired OREO portfolio. | ||||||||||||||||
(h) | Adjustment reflects final recording of core deposit intangible on the acquired core deposit accounts. | ||||||||||||||||
(i) | Adjustment reflects the deferred taxes on the difference in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes. | ||||||||||||||||
Goodwill of $27.4 million, which is the excess of the merger consideration over the fair value of net assets acquired, was recorded in the Coastal acquisition and is the result of expected operational synergies and other factors. This goodwill is not expected to be deductible for tax purposes. | |||||||||||||||||
The results of operations of Coastal subsequent to the acquisition date are included in the Company’s consolidated statements of operations. The following unaudited pro forma information reflects the Company’s estimated consolidated results of operations as if the acquisition had occurred on January 1, 2014, unadjusted for potential cost savings (in thousands). | |||||||||||||||||
Three Months | |||||||||||||||||
Ended March 31, | |||||||||||||||||
2014 | |||||||||||||||||
Net interest income and noninterest income | $ | 52,590 | |||||||||||||||
Net income | $ | 9,052 | |||||||||||||||
Net income available to common stockholders | $ | 8,766 | |||||||||||||||
Income per common share available to common stockholders – basic | $ | 0.33 | |||||||||||||||
Income per common share available to common stockholders – diluted | $ | 0.32 | |||||||||||||||
Average number of shares outstanding, basic | 26,743 | ||||||||||||||||
Average number of shares outstanding, diluted | 27,172 | ||||||||||||||||
In the acquisition, the Company purchased $279.4 million of loans at fair value, net of $16.7 million, or 5.64%, estimated discount to the outstanding principal balance. Of the total loans acquired, management identified $29.3 million that were considered to be credit impaired and are accounted for under ASC Topic 310-30. The table below summarizes the total contractually required principal and interest cash payment, management’s estimate of expected total cash payments and fair value of the loans as of acquisition date for purchased credit impaired loans. Contractually required principal and interest payment have been adjusted for estimated prepayments. | |||||||||||||||||
Contractually required principal and interest | $ | 38,194 | |||||||||||||||
Non-accretable difference | (5,632 | ) | |||||||||||||||
Cash flows expected to be collected | 32,562 | ||||||||||||||||
Accretable yield | (3,282 | ) | |||||||||||||||
Total purchased credit-impaired loans acquired | $ | 29,280 | |||||||||||||||
A rollforward of purchased non-covered loans for the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014 is shown below: | |||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||
Balance, January 1 | $ | 674,239 | $ | 448,753 | $ | 448,753 | |||||||||||
Charge-offs, net of recoveries | (244 | ) | (84 | ) | — | ||||||||||||
Additions due to acquisitions | — | 279,441 | — | ||||||||||||||
Accretion | 3,111 | 9,745 | 1,023 | ||||||||||||||
Transfers to purchased non-covered other real estate owned | (1,094 | ) | (4,160 | ) | (68 | ) | |||||||||||
Transfer from covered loans due to loss-share expiration | — | 15,475 | — | ||||||||||||||
Payments received | (32,920 | ) | (74,931 | ) | (12,439 | ) | |||||||||||
Ending balance | $ | 643,092 | $ | 674,239 | $ | 437,269 | |||||||||||
The following is a summary of changes in the accretable discounts of purchased non-covered loans during the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014: | |||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||
Balance, January 1 | $ | 25,716 | $ | 26,189 | $ | 26,189 | |||||||||||
Additions due to acquisitions | — | 7,799 | — | ||||||||||||||
Accretion | (3,111 | ) | (9,745 | ) | (1,023 | ) | |||||||||||
Transfers between non-accretable and accretable discounts, net | (2,376 | ) | 1,473 | 2,680 | |||||||||||||
Ending balance | $ | 20,229 | $ | 25,716 | $ | 27,846 | |||||||||||
Investment_Securities
Investment Securities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Investment Securities | NOTE 4 – 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 March 31, 2015, December 31, 2014 and March 31, 2014 are presented below: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||
U.S. government agencies | $ | 14,954 | $ | 72 | $ | (42 | ) | $ | 14,984 | ||||||||||||||||
State, county and municipal securities | 154,499 | 4,800 | (235 | ) | 159,064 | ||||||||||||||||||||
Corporate debt securities | 10,794 | 193 | (52 | ) | 10,935 | ||||||||||||||||||||
Mortgage-backed securities | 420,497 | 6,185 | (1,335 | ) | 425,347 | ||||||||||||||||||||
Total debt securities | $ | 600,744 | $ | 11,250 | $ | (1,664 | ) | $ | 610,330 | ||||||||||||||||
December 31, 2014: | |||||||||||||||||||||||||
U.S. government agencies | $ | 14,953 | $ | — | $ | (275 | ) | $ | 14,678 | ||||||||||||||||
State, county and municipal securities | 137,873 | 3,935 | (433 | ) | 141,375 | ||||||||||||||||||||
Corporate debt securities | 10,812 | 228 | — | 11,040 | |||||||||||||||||||||
Mortgage-backed securities | 369,581 | 6,534 | (1,403 | ) | 374,712 | ||||||||||||||||||||
Total debt securities | $ | 533,219 | $ | 10,697 | $ | (2,111 | ) | $ | 541,805 | ||||||||||||||||
March 31, 2014: | |||||||||||||||||||||||||
U.S. government agencies | $ | 14,948 | $ | — | $ | (803 | ) | $ | 14,145 | ||||||||||||||||
State, county and municipal securities | 110,331 | 2,724 | (1,481 | ) | 111,574 | ||||||||||||||||||||
Corporate debt securities | 10,307 | 285 | (209 | ) | 10,383 | ||||||||||||||||||||
Mortgage-backed securities | 319,216 | 4,244 | (2,849 | ) | 320,611 | ||||||||||||||||||||
Total debt securities | $ | 454,802 | $ | 7,253 | $ | (5,342 | ) | $ | 456,713 | ||||||||||||||||
The amortized cost and fair value of available-for-sale securities at March 31, 2015 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 shown separately in the following maturity summary. | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Due in one year or less | $ | 8,588 | $ | 8,667 | |||||||||||||||||||||
Due from one year to five years | 42,345 | 43,706 | |||||||||||||||||||||||
Due from five to ten years | 60,795 | 62,690 | |||||||||||||||||||||||
Due after ten years | 68,519 | 69,920 | |||||||||||||||||||||||
Mortgage-backed securities | 420,497 | 425,347 | |||||||||||||||||||||||
$ | 600,744 | $ | 610,330 | ||||||||||||||||||||||
Securities with a carrying value of approximately $426.6 million serve as collateral to secure public deposits and for other purposes required or permitted by law at March 31, 2015, compared to $286.6 million and $295.7 million at December 31, 2014 and March 31, 2014, respectively. | |||||||||||||||||||||||||
The following table details the gross unrealized losses and fair value of securities aggregated by category and duration of the continuous unrealized loss position at March 31, 2015, December 31, 2014 and March 31, 2014. | |||||||||||||||||||||||||
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) | |||||||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||
U.S. government agencies | $ | — | $ | — | $ | 4,958 | $ | (42 | ) | $ | 4,958 | $ | (42 | ) | |||||||||||
State, county and municipal securities | 4,675 | (34 | ) | 10,579 | (201 | ) | 15,254 | (235 | ) | ||||||||||||||||
Corporate debt securities | 5,007 | (52 | ) | — | — | 5,007 | (52 | ) | |||||||||||||||||
Mortgage-backed securities | 46,361 | (378 | ) | 31,483 | (957 | ) | 77,844 | (1,335 | ) | ||||||||||||||||
Total debt securities | $ | 56,043 | $ | (464 | ) | $ | 47,020 | $ | (1,200 | ) | $ | 103,063 | $ | (1,664 | ) | ||||||||||
December 31, 2014: | |||||||||||||||||||||||||
U.S. government agencies | $ | — | $ | — | $ | 14,678 | $ | (275 | ) | $ | 14,678 | $ | (275 | ) | |||||||||||
State, county and municipal securities | 15,038 | (70 | ) | 19,665 | (363 | ) | 34,703 | (433 | ) | ||||||||||||||||
Corporate debt securities | — | — | — | — | — | — | |||||||||||||||||||
Mortgage-backed securities | 36,760 | (221 | ) | 46,812 | (1,182 | ) | 83,572 | (1,403 | ) | ||||||||||||||||
Total debt securities | $ | 51,798 | $ | (291 | ) | $ | 81,155 | $ | (1,820 | ) | $ | 132,953 | $ | (2,111 | ) | ||||||||||
March 31, 2014: | |||||||||||||||||||||||||
U.S. government agencies | $ | 9,353 | $ | (595 | ) | $ | 4,792 | $ | (208 | ) | $ | 14,145 | $ | (803 | ) | ||||||||||
State, county and municipal securities | 38,937 | (1,238 | ) | 3,612 | (243 | ) | 42,549 | (1,481 | ) | ||||||||||||||||
Corporate debt securities | — | — | 4,871 | (209 | ) | 4,871 | (209 | ) | |||||||||||||||||
Mortgage-backed securities | 55,103 | (1,219 | ) | 31,184 | (1,630 | ) | 86,287 | (2,849 | ) | ||||||||||||||||
Total debt securities | $ | 103,393 | $ | (3,052 | ) | $ | 44,459 | $ | (2,290 | ) | $ | 147,852 | $ | (5,342 | ) | ||||||||||
As of March 31, 2015, the Company’s security portfolio consisted of 346 securities, 48 of which were in an unrealized loss position. The majority of unrealized losses are related to the Company’s mortgage-backed and state, county and municipal securities, as discussed below. | |||||||||||||||||||||||||
At March 31, 2015, the Company held 35 mortgage-backed securities that were in an unrealized loss position, all of which were issued by U.S. government-sponsored entities and agencies. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, and because the Company does not have the intent to sell these mortgage-backed securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at March 31, 2015. | |||||||||||||||||||||||||
At March 31, 2015, the Company held 11 state, county and municipal securities, one U.S. government-sponsored agency security, and one corporate security that were in an unrealized loss position. Because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Company does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at March 31, 2015. | |||||||||||||||||||||||||
During the first three months of 2015 and 2014, the Company received timely and current interest and principal payments on all of the securities classified as corporate debt securities, except for one security that began deferring interest during the fourth quarter of 2010. The Company’s investments in subordinated debt include investments in regional and super-regional banks on which the Company prepares regular analysis through review of financial information and credit ratings. Investments in preferred securities are also concentrated in the preferred obligations of regional and super-regional banks through non-pooled investment structures. The Company did not have investments in “pooled” trust preferred securities at March 31, 2015, December 31, 2014 or March 31, 2014. | |||||||||||||||||||||||||
Management and the Company’s Asset and Liability Committee (the “ALCO Committee”) evaluate securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. While the majority of the unrealized losses on debt securities relate to changes in interest rates, corporate debt securities have also been affected by reduced levels of liquidity and higher risk premiums. Occasionally, management engages independent third parties to evaluate the Company’s position in certain corporate debt securities to aid management and the ALCO Committee in its determination regarding the status of impairment. The Company believes that each investment poses minimal credit risk and further, that the Company does not intend to sell these investment securities at an unrealized loss position at March 31, 2015, and it is more likely than not that the Company will not be required to sell these securities prior to recovery or maturity. Therefore, at March 31, 2015, these investments are not considered impaired on an other-than-temporary basis. | |||||||||||||||||||||||||
At March 31, 2015, December 31, 2014 and March 31, 2014, all of the Company’s mortgage-backed securities were obligations of government-sponsored agencies. | |||||||||||||||||||||||||
The following table is a summary of sales activities in the Company’s investment securities available for sale for the three months ended March 31, 2015, year ended December 31, 2014 and three months ended March 31, 2014: | |||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | March 31, 2014 | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Gross gains on sales of securities | $ | 31 | $ | 141 | $ | 8 | |||||||||||||||||||
Gross losses on sales of securities | (19 | ) | (3 | ) | (2 | ) | |||||||||||||||||||
Net realized gains on sales of securities available for sale | $ | 12 | $ | 138 | $ | 6 | |||||||||||||||||||
Sales proceeds | $ | 5,118 | $ | 94,051 | $ | 68,899 | |||||||||||||||||||
Loans
Loans | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||
Loans | NOTE 5 - 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 the 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, 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 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 loan categories are presented in the following table: | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 334,917 | $ | 319,654 | $ | 270,571 | |||||||||||||||||||||||||||
Real estate – construction and development | 178,568 | 161,507 | 149,543 | ||||||||||||||||||||||||||||||
Real estate – commercial and farmland | 947,274 | 907,524 | 836,230 | ||||||||||||||||||||||||||||||
Real estate – residential | 496,043 | 456,106 | 393,001 | ||||||||||||||||||||||||||||||
Consumer installment | 29,113 | 30,782 | 32,345 | ||||||||||||||||||||||||||||||
Other | 13,505 | 14,308 | 13,692 | ||||||||||||||||||||||||||||||
$ | 1,999,420 | $ | 1,889,881 | $ | 1,695,382 | ||||||||||||||||||||||||||||
Purchased non-covered loans are defined as loans that were acquired in bank acquisitions that are not covered by a loss-sharing agreement with the Federal Deposit Insurance Corporation (“FDIC”). Purchased non-covered loans totaling $643.1 million, $674.2 million and $437.3 million at March 31, 2015, December 31, 2014 and March 31, 2014, respectively, are not included in the above schedule. | |||||||||||||||||||||||||||||||||
Purchased non-covered loans are shown below according to major loan type as of the end of the periods shown: | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 36,258 | $ | 38,041 | $ | 30,810 | |||||||||||||||||||||||||||
Real estate – construction and development | 53,668 | 58,362 | 31,820 | ||||||||||||||||||||||||||||||
Real estate – commercial and farmland | 291,760 | 306,706 | 174,281 | ||||||||||||||||||||||||||||||
Real estate – residential | 257,216 | 266,342 | 196,078 | ||||||||||||||||||||||||||||||
Consumer installment | 4,190 | 4,788 | 4,280 | ||||||||||||||||||||||||||||||
$ | 643,092 | $ | 674,239 | $ | 437,269 | ||||||||||||||||||||||||||||
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 $245.7 million, $271.3 million and $372.7 million at March 31, 2015, December 31, 2014 and March 31, 2014, respectively, are not included in the above schedules. | |||||||||||||||||||||||||||||||||
Covered loans are shown below according to loan type as of the end of the periods shown: | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 20,905 | $ | 21,467 | $ | 24,813 | |||||||||||||||||||||||||||
Real estate – construction and development | 19,519 | 23,447 | 41,434 | ||||||||||||||||||||||||||||||
Real estate – commercial and farmland | 130,290 | 147,627 | 214,649 | ||||||||||||||||||||||||||||||
Real estate – residential | 74,847 | 78,520 | 91,372 | ||||||||||||||||||||||||||||||
Consumer installment | 184 | 218 | 426 | ||||||||||||||||||||||||||||||
$ | 245,745 | $ | 271,279 | $ | 372,694 | ||||||||||||||||||||||||||||
Nonaccrual and Past Due Loans | |||||||||||||||||||||||||||||||||
A loan is placed on nonaccrual status when, in management’s judgment, the collection of the interest income appears doubtful. Interest receivable that has been accrued and is subsequently determined to have doubtful collectability is charged against interest income. Interest payments on nonaccrual 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. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Past due loans are loans whose principal or interest is past due 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 loans accounted for on a nonaccrual basis, excluding purchased non-covered and covered loans: | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,015 | $ | 1,672 | $ | 3,008 | |||||||||||||||||||||||||||
Real estate – construction and development | 3,286 | 3,774 | 4,080 | ||||||||||||||||||||||||||||||
Real estate – commercial and farmland | 7,893 | 8,141 | 8,550 | ||||||||||||||||||||||||||||||
Real estate – residential | 8,246 | 7,663 | 10,631 | ||||||||||||||||||||||||||||||
Consumer installment | 401 | 478 | 460 | ||||||||||||||||||||||||||||||
$ | 20,841 | $ | 21,728 | $ | 26,729 | ||||||||||||||||||||||||||||
The following table presents an analysis of purchased non-covered loans accounted for on a nonaccrual basis: | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 198 | $ | 175 | $ | 117 | |||||||||||||||||||||||||||
Real estate – construction and development | 785 | 1,119 | 1,131 | ||||||||||||||||||||||||||||||
Real estate – commercial and farmland | 9,096 | 10,242 | 6,829 | ||||||||||||||||||||||||||||||
Real estate – residential | 7,202 | 6,644 | 7,208 | ||||||||||||||||||||||||||||||
Consumer installment | 27 | 69 | 33 | ||||||||||||||||||||||||||||||
$ | 17,308 | $ | 18,249 | $ | 15,318 | ||||||||||||||||||||||||||||
The following table presents an analysis of covered loans accounted for on a nonaccrual basis: | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 8,404 | $ | 8,541 | $ | 10,025 | |||||||||||||||||||||||||||
Real estate – construction and development | 6,262 | 7,601 | 14,780 | ||||||||||||||||||||||||||||||
Real estate – commercial and farmland | 17,000 | 12,584 | 24,285 | ||||||||||||||||||||||||||||||
Real estate – residential | 6,606 | 6,595 | 10,558 | ||||||||||||||||||||||||||||||
Consumer installment | 87 | 91 | 133 | ||||||||||||||||||||||||||||||
$ | 38,359 | $ | 35,412 | $ | 59,781 | ||||||||||||||||||||||||||||
The following table presents an analysis of loans, excluding purchased non-covered and covered past due loans as of March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 1,258 | $ | 2,821 | $ | 984 | $ | 5,063 | $ | 329,854 | $ | 334,917 | $ | — | |||||||||||||||||||
Real estate – construction & development | 404 | 240 | 3,205 | 3,849 | 174,719 | 178,568 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 6,398 | 1,285 | 7,732 | 15,415 | 931,859 | 947,274 | — | ||||||||||||||||||||||||||
Real estate – residential | 4,430 | 1,879 | 7,569 | 13,878 | 482,165 | 496,043 | — | ||||||||||||||||||||||||||
Consumer installment loans | 367 | 136 | 256 | 759 | 28,354 | 29,113 | — | ||||||||||||||||||||||||||
Other | — | — | — | — | 13,505 | 13,505 | — | ||||||||||||||||||||||||||
Total | $ | 12,857 | $ | 6,361 | $ | 19,746 | $ | 38,964 | $ | 1,960,456 | $ | 1,999,420 | $ | — | |||||||||||||||||||
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, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 900 | $ | 233 | $ | 1,577 | $ | 2,710 | $ | 316,944 | $ | 319,654 | $ | — | |||||||||||||||||||
Real estate – construction & development | 1,382 | 286 | 3,367 | 5,035 | 156,472 | 161,507 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 2,859 | 635 | 7,668 | 11,162 | 896,362 | 907,524 | — | ||||||||||||||||||||||||||
Real estate – residential | 3,953 | 2,334 | 6,755 | 13,042 | 443,064 | 456,106 | — | ||||||||||||||||||||||||||
Consumer installment loans | 634 | 158 | 366 | 1,158 | 29,624 | 30,782 | 1 | ||||||||||||||||||||||||||
Other | — | — | — | — | 14,308 | 14,308 | — | ||||||||||||||||||||||||||
Total | $ | 9,728 | $ | 3,646 | $ | 19,733 | $ | 33,107 | $ | 1,856,774 | $ | 1,889,881 | $ | 1 | |||||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 1,083 | $ | 386 | $ | 2,956 | $ | 4,425 | $ | 266,146 | $ | 270,571 | $ | — | |||||||||||||||||||
Real estate – construction & development | 1,304 | 249 | 3,919 | 5,472 | 144,071 | 149,543 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 2,255 | 1,650 | 7,622 | 11,527 | 824,703 | 836,230 | — | ||||||||||||||||||||||||||
Real estate – residential | 3,657 | 1,541 | 10,298 | 15,496 | 377,505 | 393,001 | — | ||||||||||||||||||||||||||
Consumer installment loans | 474 | 68 | 345 | 887 | 31,458 | 32,345 | — | ||||||||||||||||||||||||||
Other | — | — | — | — | 13,692 | 13,692 | — | ||||||||||||||||||||||||||
Total | $ | 8,773 | $ | 3,894 | $ | 25,140 | $ | 37,807 | $ | 1,657,575 | $ | 1,695,382 | $ | — | |||||||||||||||||||
The following table presents an analysis of purchased non-covered past due loans as of March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 216 | $ | — | $ | 85 | $ | 301 | $ | 35,957 | $ | 36,258 | $ | — | |||||||||||||||||||
Real estate – construction & development | 393 | 17 | 766 | 1,176 | 52,492 | 53,668 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 1,611 | 831 | 8,495 | 10,937 | 280,823 | 291,760 | — | ||||||||||||||||||||||||||
Real estate – residential | 3,113 | 2,454 | 6,490 | 12,057 | 245,159 | 257,216 | — | ||||||||||||||||||||||||||
Consumer installment loans | 100 | — | 19 | 119 | 4,071 | 4,190 | — | ||||||||||||||||||||||||||
Total | $ | 5,433 | $ | 3,302 | $ | 15,855 | $ | 24,590 | $ | 618,502 | $ | 643,092 | $ | — | |||||||||||||||||||
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, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 461 | $ | 90 | $ | 175 | $ | 726 | $ | 37,315 | $ | 38,041 | $ | — | |||||||||||||||||||
Real estate – construction & development | 790 | 1,735 | 1,117 | 3,642 | 54,720 | 58,362 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 2,107 | 1,194 | 9,529 | 12,830 | 293,876 | 306,706 | — | ||||||||||||||||||||||||||
Real estate – residential | 6,907 | 1,401 | 6,369 | 14,677 | 251,665 | 266,342 | — | ||||||||||||||||||||||||||
Consumer installment loans | 82 | — | 65 | 147 | 4,641 | 4,788 | — | ||||||||||||||||||||||||||
Total | $ | 10,347 | $ | 4,420 | $ | 17,255 | $ | 32,022 | $ | 642,217 | $ | 674,239 | $ | — | |||||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 291 | $ | — | $ | 117 | $ | 408 | $ | 30,402 | $ | 30,810 | $ | — | |||||||||||||||||||
Real estate – construction & development | 680 | 661 | 867 | 2,208 | 29,612 | 31,820 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 3,956 | 5,126 | 2,550 | 11,632 | 162,649 | 174,281 | — | ||||||||||||||||||||||||||
Real estate – residential | 5,187 | 1,816 | 6,503 | 13,506 | 182,572 | 196,078 | — | ||||||||||||||||||||||||||
Consumer installment loans | 12 | 11 | 30 | 53 | 4,227 | 4,280 | — | ||||||||||||||||||||||||||
Total | $ | 10,126 | $ | 7,614 | $ | 10,067 | $ | 27,807 | $ | 409,462 | $ | 437,269 | $ | — | |||||||||||||||||||
The following table presents an analysis of covered past due loans as of March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 165 | $ | 225 | $ | 1,776 | $ | 2,166 | $ | 18,739 | $ | 20,905 | $ | — | |||||||||||||||||||
Real estate – construction & development | 455 | — | 5,605 | 6,060 | 13,459 | 19,519 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 2,364 | 1,150 | 11,063 | 14,577 | 115,713 | 130,290 | — | ||||||||||||||||||||||||||
Real estate – residential | 2,293 | 1,019 | 4,999 | 8,310 | 66,536 | 74,847 | — | ||||||||||||||||||||||||||
Consumer installment loans | — | — | 87 | 87 | 97 | 184 | — | ||||||||||||||||||||||||||
Total | $ | 5,277 | $ | 2,394 | $ | 23,530 | $ | 31,201 | $ | 214,544 | $ | 245,745 | $ | — | |||||||||||||||||||
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, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 451 | $ | 136 | $ | 1,878 | $ | 2,465 | $ | 19,002 | $ | 21,467 | $ | — | |||||||||||||||||||
Real estate – construction & development | 238 | 226 | 6,703 | 7,167 | 16,280 | 23,447 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 4,371 | 1,486 | 7,711 | 13,568 | 134,059 | 147,627 | 714 | ||||||||||||||||||||||||||
Real estate – residential | 3,464 | 962 | 5,656 | 10,082 | 68,438 | 78,520 | — | ||||||||||||||||||||||||||
Consumer installment loans | 10 | — | 91 | 101 | 117 | 218 | — | ||||||||||||||||||||||||||
Total | $ | 8,534 | $ | 2,810 | $ | 22,039 | $ | 33,383 | $ | 237,896 | $ | 271,279 | $ | 714 | |||||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 688 | $ | 55 | $ | 8,976 | $ | 9,719 | $ | 15,094 | $ | 24,813 | $ | — | |||||||||||||||||||
Real estate – construction & development | 4,248 | 302 | 14,472 | 19,022 | 22,412 | 41,434 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 15,732 | 3,722 | 17,680 | 37,134 | 177,515 | 214,649 | — | ||||||||||||||||||||||||||
Real estate – residential | 3,579 | 1,585 | 9,752 | 14,916 | 76,456 | 91,372 | 1,396 | ||||||||||||||||||||||||||
Consumer installment loans | 2 | 50 | 103 | 155 | 271 | 426 | — | ||||||||||||||||||||||||||
Total | $ | 24,249 | $ | 5,714 | $ | 50,983 | $ | 80,946 | $ | 291,748 | $ | 372,694 | $ | 1,396 | |||||||||||||||||||
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 impaired loans, excluding purchased non-covered and covered loans: | |||||||||||||||||||||||||||||||||
As of and For the Period Ended | |||||||||||||||||||||||||||||||||
March 31, | December 31, | March 31, | |||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Nonaccrual loans | $ | 20,841 | $ | 21,728 | $ | 26,729 | |||||||||||||||||||||||||||
Troubled debt restructurings not included above | 12,935 | 12,759 | 18,848 | ||||||||||||||||||||||||||||||
Total impaired loans | $ | 33,776 | $ | 34,487 | $ | 45,577 | |||||||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 168 | $ | 1,991 | $ | 246 | |||||||||||||||||||||||||||
Foregone interest income on impaired loans | $ | 109 | $ | 155 | $ | 246 | |||||||||||||||||||||||||||
The following table presents an analysis of information pertaining to impaired loans, excluding purchased non-covered and covered loans as of March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 2,378 | $ | 5 | $ | 1,287 | $ | 1,292 | $ | 240 | $ | 1,627 | |||||||||||||||||||||
Real estate – construction & development | 7,397 | 274 | 3,801 | 4,075 | 667 | 4,264 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 16,980 | 3,280 | 11,922 | 15,202 | 2,127 | 14,909 | |||||||||||||||||||||||||||
Real estate – residential | 14,181 | 1,592 | 11,166 | 12,758 | 1,869 | 12,833 | |||||||||||||||||||||||||||
Consumer installment loans | 548 | — | 449 | 449 | 6 | 491 | |||||||||||||||||||||||||||
Total | $ | 41,484 | $ | 5,151 | $ | 28,625 | $ | 33,776 | $ | 4,909 | $ | 34,124 | |||||||||||||||||||||
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, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 3,387 | $ | 6 | $ | 1,956 | $ | 1,962 | $ | 395 | $ | 3,021 | |||||||||||||||||||||
Real estate – construction & development | 8,325 | 448 | 4,005 | 4,453 | 771 | 5,368 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 17,514 | 4,967 | 9,651 | 14,618 | 1,859 | 15,972 | |||||||||||||||||||||||||||
Real estate – residential | 15,571 | 3,514 | 9,407 | 12,921 | 974 | 16,317 | |||||||||||||||||||||||||||
Consumer installment loans | 618 | — | 533 | 533 | 9 | 519 | |||||||||||||||||||||||||||
Total | $ | 45,415 | $ | 8,935 | $ | 25,552 | $ | 34,487 | $ | 4,008 | $ | 41,197 | |||||||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 5,421 | $ | — | $ | 3,719 | $ | 3,719 | $ | 394 | $ | 4,169 | |||||||||||||||||||||
Real estate – construction & development | 10,636 | — | 6,033 | 6,033 | 736 | 5,950 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 19,983 | — | 17,282 | 17,282 | 1,972 | 16,380 | |||||||||||||||||||||||||||
Real estate – residential | 21,307 | — | 17,996 | 17,996 | 1,211 | 18,983 | |||||||||||||||||||||||||||
Consumer installment loans | 688 | — | 547 | 547 | 11 | 515 | |||||||||||||||||||||||||||
Total | $ | 58,035 | $ | — | $ | 45,577 | $ | 45,577 | $ | 4,324 | $ | 45,997 | |||||||||||||||||||||
The following is a summary of information pertaining to purchased non-covered impaired loans: | |||||||||||||||||||||||||||||||||
As of and For the Period Ended | |||||||||||||||||||||||||||||||||
March 31, | December 31, | March 31, | |||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Nonaccrual loans | $ | 17,308 | $ | 18,249 | $ | 15,318 | |||||||||||||||||||||||||||
Troubled debt restructurings not included above | 1,526 | 1,212 | 5,191 | ||||||||||||||||||||||||||||||
Total impaired loans | $ | 18,834 | $ | 19,461 | $ | 20,509 | |||||||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 18 | $ | 360 | $ | 74 | |||||||||||||||||||||||||||
Foregone interest income on impaired loans | $ | 21 | $ | 237 | $ | 563 | |||||||||||||||||||||||||||
The following table presents an analysis of information pertaining to impaired purchased non-covered loans as of March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 1,331 | $ | 198 | $ | — | $ | 198 | $ | — | $ | 187 | |||||||||||||||||||||
Real estate – construction & development | 2,153 | 1,113 | — | 1,113 | — | 1,275 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 13,911 | 9,816 | — | 9,816 | — | 10,202 | |||||||||||||||||||||||||||
Real estate – residential | 12,183 | 7,679 | — | 7,679 | — | 7,435 | |||||||||||||||||||||||||||
Consumer installment loans | 38 | 28 | — | 28 | — | 50 | |||||||||||||||||||||||||||
Total | $ | 29,616 | $ | 18,834 | $ | — | $ | 18,834 | $ | — | $ | 19,148 | |||||||||||||||||||||
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, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 1,366 | $ | 175 | $ | — | $ | 175 | $ | — | $ | 165 | |||||||||||||||||||||
Real estate – construction & development | 5,161 | 1,436 | — | 1,436 | — | 1,643 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 15,007 | 10,588 | — | 10,588 | — | 7,484 | |||||||||||||||||||||||||||
Real estate – residential | 12,283 | 7,191 | — | 7,191 | — | 7,084 | |||||||||||||||||||||||||||
Consumer installment loans | 172 | 71 | — | 71 | — | 68 | |||||||||||||||||||||||||||
Total | $ | 33,989 | $ | 19,461 | $ | — | $ | 19,461 | $ | — | $ | 16,444 | |||||||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 233 | $ | 117 | $ | — | $ | 117 | $ | — | $ | 64 | |||||||||||||||||||||
Real estate – construction & development | 6,173 | 3,574 | — | 3,574 | — | 3,631 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 12,966 | 7,790 | — | 7,790 | — | 5,336 | |||||||||||||||||||||||||||
Real estate – residential | 15,524 | 8,987 | — | 8,987 | — | 7,483 | |||||||||||||||||||||||||||
Consumer installment loans | 240 | 41 | — | 41 | — | 39 | |||||||||||||||||||||||||||
Total | $ | 35,136 | $ | 20,509 | $ | — | $ | 20,509 | $ | — | $ | 16,553 | |||||||||||||||||||||
The following is a summary of information pertaining to covered impaired loans: | |||||||||||||||||||||||||||||||||
As of and For the Period Ended | |||||||||||||||||||||||||||||||||
March 31, | December 31, | March 31, | |||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Nonaccrual loans | $ | 38,359 | $ | 35,412 | $ | 59,781 | |||||||||||||||||||||||||||
Troubled debt restructurings not included above | 20,721 | 22,619 | 22,775 | ||||||||||||||||||||||||||||||
Total impaired loans | $ | 59,080 | $ | 58,031 | $ | 82,556 | |||||||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 220 | $ | 2,057 | $ | 387 | |||||||||||||||||||||||||||
Foregone interest income on impaired loans | $ | 130 | $ | 109 | $ | 10 | |||||||||||||||||||||||||||
The following table presents an analysis of information pertaining to impaired covered loans as of March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 13,512 | $ | 8,407 | $ | — | $ | 8,407 | $ | — | $ | 8,495 | |||||||||||||||||||||
Real estate – construction & development | 24,503 | 9,080 | — | 9,080 | — | 9,859 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 35,493 | 23,462 | — | 23,462 | — | 22,062 | |||||||||||||||||||||||||||
Real estate – residential | 23,585 | 18,042 | — | 18,042 | — | 18,048 | |||||||||||||||||||||||||||
Consumer installment loans | 119 | 89 | — | 89 | — | 92 | |||||||||||||||||||||||||||
Total | $ | 97,212 | $ | 59,080 | $ | — | $ | 59,080 | $ | — | $ | 58,556 | |||||||||||||||||||||
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, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 14,385 | $ | 8,582 | $ | — | $ | 8,582 | $ | — | $ | 9,777 | |||||||||||||||||||||
Real estate – construction & development | 27,289 | 10,638 | — | 10,638 | — | 14,132 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 31,309 | 20,663 | — | 20,663 | — | 28,594 | |||||||||||||||||||||||||||
Real estate – residential | 22,860 | 18,054 | — | 18,054 | — | 21,091 | |||||||||||||||||||||||||||
Consumer installment loans | 124 | 94 | — | 94 | — | 163 | |||||||||||||||||||||||||||
Total | $ | 95,967 | $ | 58,031 | $ | — | $ | 58,031 | $ | — | $ | 73,757 | |||||||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 16,020 | $ | 10,039 | $ | — | $ | 10,039 | $ | — | $ | 8,655 | |||||||||||||||||||||
Real estate – construction & development | 50,876 | 18,034 | — | 18,034 | — | 18,036 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 66,557 | 31,746 | — | 31,746 | — | 36,247 | |||||||||||||||||||||||||||
Real estate – residential | 30,824 | 22,604 | — | 22,604 | — | 23,801 | |||||||||||||||||||||||||||
Consumer installment loans | 190 | 133 | — | 133 | — | 237 | |||||||||||||||||||||||||||
Total | $ | 164,467 | $ | 82,556 | $ | — | $ | 82,556 | $ | — | $ | 86,976 | |||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||||||
The Company uses a nine category risk grading system to assign a risk grade to each loan in the portfolio. The following is a description of the general characteristics of the grades: | |||||||||||||||||||||||||||||||||
Grade 10 – Prime Credit – This grade represents loans to the Company’s most creditworthy borrowers or loans that are secured by cash or cash equivalents. | |||||||||||||||||||||||||||||||||
Grade 15 – Good Credit – This grade includes loans that exhibit one or more characteristics better than that of a Satisfactory Credit. 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 and 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 and 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 credit worthiness and paying capacity of the borrower or of the collateral pledged, if any. These assets exhibit a well-defined weakness or are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. These weaknesses may be characterized by past due performance, operating losses or questionable collateral values. | |||||||||||||||||||||||||||||||||
Grade 50 – Doubtful – This grade includes loans which exhibit all of the characteristics of a substandard loan with the added provision that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable or improbable. | |||||||||||||||||||||||||||||||||
Grade 60 – Loss – This grade is assigned to loans which are considered uncollectible and of such little value that their continuance as active assets of the Bank is not warranted. This classification does not mean that the 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 loan portfolio, excluding purchased non-covered and covered loans, by risk grade as of March 31, 2015: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment loans | |||||||||||||||||||||||||||||
Grade | agricultural | development | farmland | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | 147,820 | $ | 1,751 | $ | 152 | $ | 1,727 | $ | 6,011 | $ | — | $ | 157,461 | |||||||||||||||||||
15 | 24,619 | 3,504 | 119,032 | 57,583 | 1,191 | — | 205,929 | ||||||||||||||||||||||||||
20 | 90,407 | 47,148 | 541,490 | 303,463 | 16,720 | 13,505 | 1,012,733 | ||||||||||||||||||||||||||
23 | 981 | 8,521 | 11,934 | 7,141 | 66 | — | 28,643 | ||||||||||||||||||||||||||
25 | 60,018 | 110,570 | 238,026 | 100,175 | 4,222 | — | 513,011 | ||||||||||||||||||||||||||
30 | 3,911 | 1,890 | 11,364 | 8,007 | 289 | — | 25,461 | ||||||||||||||||||||||||||
40 | 7,161 | 5,184 | 25,276 | 17,947 | 610 | — | 56,178 | ||||||||||||||||||||||||||
50 | — | — | — | — | 4 | — | 4 | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 334,917 | $ | 178,568 | $ | 947,274 | $ | 496,043 | $ | 29,113 | $ | 13,505 | $ | 1,999,420 | |||||||||||||||||||
The following table presents the loan portfolio, excluding purchased non-covered and covered loans, by risk grade as of December 31, 2014: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment loans | |||||||||||||||||||||||||||||
Grade | agricultural | development | farmland | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | 121,355 | $ | 268 | $ | 155 | $ | 226 | $ | 6,573 | $ | — | $ | 128,577 | |||||||||||||||||||
15 | 25,318 | 4,010 | 128,170 | 59,301 | 1,005 | — | 217,804 | ||||||||||||||||||||||||||
20 | 100,599 | 47,541 | 511,198 | 256,758 | 17,544 | 14,308 | 947,948 | ||||||||||||||||||||||||||
23 | 56 | 8,933 | 10,507 | 9,672 | 37 | — | 29,205 | ||||||||||||||||||||||||||
25 | 62,519 | 93,514 | 224,464 | 102,998 | 4,692 | — | 488,187 | ||||||||||||||||||||||||||
30 | 3,758 | 1,474 | 13,035 | 7,459 | 257 | — | 25,983 | ||||||||||||||||||||||||||
40 | 6,049 | 5,767 | 19,995 | 19,692 | 673 | — | 52,176 | ||||||||||||||||||||||||||
50 | — | — | — | — | 1 | — | 1 | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 319,654 | $ | 161,507 | $ | 907,524 | $ | 456,106 | $ | 30,782 | $ | 14,308 | $ | 1,889,881 | |||||||||||||||||||
The following table presents the loan portfolio, excluding purchased non-covered and covered loans, by risk grade as of March 31, 2014: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment loans | |||||||||||||||||||||||||||||
Grade | agricultural | development | farmland | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | 86,688 | $ | — | $ | 259 | $ | 478 | $ | 6,380 | $ | — | $ | 93,805 | |||||||||||||||||||
15 | 26,730 | 5,483 | 153,285 | 57,119 | 1,346 | — | 243,963 | ||||||||||||||||||||||||||
20 | 90,692 | 48,872 | 454,292 | 192,492 | 17,678 | 13,692 | 817,718 | ||||||||||||||||||||||||||
23 | 120 | 9,111 | 9,784 | 11,765 | 276 | — | 31,056 | ||||||||||||||||||||||||||
25 | 55,827 | 76,962 | 178,174 | 100,634 | 5,580 | — | 417,177 | ||||||||||||||||||||||||||
30 | 5,386 | 2,889 | 15,324 | 14,440 | 201 | — | 38,240 | ||||||||||||||||||||||||||
40 | 5,001 | 6,226 | 25,112 | 16,063 | 884 | — | 53,286 | ||||||||||||||||||||||||||
50 | 127 | — | — | 10 | — | — | 137 | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 270,571 | $ | 149,543 | $ | 836,230 | $ | 393,001 | $ | 32,345 | $ | 13,692 | $ | 1,695,382 | |||||||||||||||||||
The following table presents the purchased non-covered loan portfolio by risk grade as of March 31, 2015: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment loans | |||||||||||||||||||||||||||||
Grade | agricultural | development | farmland | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | 6,696 | $ | — | $ | — | $ | 289 | $ | 459 | $ | — | $ | 7,444 | |||||||||||||||||||
15 | 995 | 641 | 9,396 | 12,136 | 472 | — | 23,640 | ||||||||||||||||||||||||||
20 | 13,751 | 13,746 | 115,359 | 62,056 | 1,568 | — | 206,480 | ||||||||||||||||||||||||||
23 | 73 | — | 3,174 | 6,777 | — | — | 10,024 | ||||||||||||||||||||||||||
25 | 12,585 | 31,512 | 136,581 | 155,187 | 1,521 | — | 337,386 | ||||||||||||||||||||||||||
30 | 958 | 3,564 | 9,404 | 8,332 | 65 | — | 22,323 | ||||||||||||||||||||||||||
40 | 1,170 | 4,205 | 17,846 | 12,417 | 105 | — | 35,743 | ||||||||||||||||||||||||||
50 | 30 | — | — | 22 | — | — | 52 | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 36,258 | $ | 53,668 | $ | 291,760 | $ | 257,216 | $ | 4,190 | $ | — | $ | 643,092 | |||||||||||||||||||
The following table presents the purchased non-covered loan portfolio by risk grade as of December 31, 2014: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment loans | |||||||||||||||||||||||||||||
Grade | agricultural | development | farmland | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | 6,624 | $ | — | $ | — | $ | 290 | $ | 480 | $ | — | $ | 7,394 | |||||||||||||||||||
15 | 1,376 | 552 | 13,277 | 14,051 | 501 | — | 29,727 | ||||||||||||||||||||||||||
20 | 13,657 | 12,991 | 116,308 | 64,083 | 1,647 | — | 208,686 | ||||||||||||||||||||||||||
23 | 73 | — | 3,207 | 3,298 | — | — | 6,578 | ||||||||||||||||||||||||||
25 | 13,753 | 36,230 | 144,293 | 164,959 | 1,920 | — | 361,155 | ||||||||||||||||||||||||||
30 | 1,618 | 4,365 | 12,279 | 7,444 | 41 | — | 25,747 | ||||||||||||||||||||||||||
40 | 910 | 4,254 | 17,342 | 12,184 | 199 | — | 34,889 | ||||||||||||||||||||||||||
50 | 30 | — | — | 33 | — | — | 63 | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 38,041 | $ | 58,362 | $ | 306,706 | $ | 266,342 | $ | 4,788 | $ | — | $ | 674,239 | |||||||||||||||||||
The following table presents the purchased non-covered loan portfolio by risk grade as of March 31, 2014: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment loans | |||||||||||||||||||||||||||||
Grade | agricultural | development | farmland | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | 1,932 | $ | — | $ | — | $ | 287 | $ | 328 | $ | — | $ | 2,547 | |||||||||||||||||||
15 | 4,408 | 52 | 12,422 | 14,231 | 679 | — | 31,792 | ||||||||||||||||||||||||||
20 | 4,596 | 3,907 | 43,132 | 33,553 | 1,218 | — | 86,406 | ||||||||||||||||||||||||||
23 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
25 | 19,213 | 22,780 | 102,918 | 134,653 | 1,965 | — | 281,529 | ||||||||||||||||||||||||||
30 | 235 | 697 | 3,387 | 2,660 | 20 | — | 6,999 | ||||||||||||||||||||||||||
40 | 426 | 4,384 | 12,422 | 10,694 | 70 | — | 27,996 | ||||||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 30,810 | $ | 31,820 | $ | 174,281 | $ | 196,078 | $ | 4,280 | $ | — | $ | 437,269 | |||||||||||||||||||
The following table presents the covered loan portfolio by risk grade as of March 31, 2015: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | |||||||||||||||||||||||||||||
Grade | agricultural | development | farmland | loans | |||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
15 | 667 | 1,847 | 734 | 522 | — | — | 3,770 | ||||||||||||||||||||||||||
20 | 75 | 458 | 21,010 | 13,353 | 51 | — | 34,947 | ||||||||||||||||||||||||||
23 | 4,481 | 8,567 | 6,382 | 6,130 | — | — | 25,560 | ||||||||||||||||||||||||||
25 | 5,094 | 2,594 | 69,536 | 36,510 | 37 | — | 113,771 | ||||||||||||||||||||||||||
30 | 10,588 | 6,053 | 4,053 | 5,893 | 9 | — | 26,596 | ||||||||||||||||||||||||||
40 | — | — | 28,575 | 12,439 | 87 | — | 41,101 | ||||||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 20,905 | $ | 19,519 | $ | 130,290 | $ | 74,847 | $ | 184 | $ | — | $ | 245,745 | |||||||||||||||||||
The following table presents the covered loan portfolio by risk grade as of December 31, 2014: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment loans | |||||||||||||||||||||||||||||
Grade | agricultural | development | farmland | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
15 | — | 1 | 761 | 525 | — | — | 1,287 | ||||||||||||||||||||||||||
20 | 917 | 3,184 | 23,167 | 14,089 | 77 | — | 41,434 | ||||||||||||||||||||||||||
23 | 164 | 537 | 11,404 | 6,642 | — | — | 18,747 | ||||||||||||||||||||||||||
25 | 5,181 | 9,406 | 80,334 | 33,124 | 37 | — | 128,082 | ||||||||||||||||||||||||||
30 | 4,808 | 2,753 | 5,302 | 8,050 | — | — | 20,913 | ||||||||||||||||||||||||||
40 | 10,397 | 7,566 | 26,659 | 16,090 | 104 | — | 60,816 | ||||||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 21,467 | $ | 23,447 | $ | 147,627 | $ | 78,520 | $ | 218 | $ | — | $ | 271,279 | |||||||||||||||||||
The following table presents the covered loan portfolio by risk grade as of March 31, 2014: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment loans | |||||||||||||||||||||||||||||
Grade | agricultural | development | farmland | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
15 | — | 10 | 1,024 | 650 | — | — | 1,684 | ||||||||||||||||||||||||||
20 | 1,769 | 7,760 | 35,625 | 19,613 | 151 | — | 64,918 | ||||||||||||||||||||||||||
23 | 139 | 978 | 17,416 | 4,870 | 51 | — | 23,454 | ||||||||||||||||||||||||||
25 | 6,921 | 9,182 | 101,948 | 38,140 | 42 | — | 156,233 | ||||||||||||||||||||||||||
30 | 5,106 | 1,185 | 17,625 | 7,025 | 3 | — | 30,944 | ||||||||||||||||||||||||||
40 | 10,878 | 22,319 | 41,011 | 21,074 | 179 | — | 95,461 | ||||||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 24,813 | $ | 41,434 | $ | 214,649 | $ | 91,372 | $ | 426 | $ | — | $ | 372,694 | |||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||
The restructuring of a loan is considered a “troubled debt restructuring” if both (i) the borrower is experiencing financial difficulties and (ii) the Company has granted a concession. Concessions may include interest rate reductions to below market interest rates, principal forgiveness, restructuring amortization schedules and other actions intended to minimize potential losses. The Company has exhibited the greatest success for rehabilitation of the loan by a reduction in the rate alone (maintaining the amortization of the debt) or a combination of a rate reduction and the forbearance of previously past due interest or principal. This has most typically been evidenced in certain commercial real estate loans whereby a disruption in the borrower’s cash flow resulted in an extended past due status, of which the borrower was unable to catch up completely as the cash flow of the property ultimately stabilized at a level lower than its original level. A reduction in rate, coupled with a forbearance of unpaid principal and/or interest, allowed the net cash flows to service the debt under the modified terms. | |||||||||||||||||||||||||||||||||
The Company’s policy requires a restructure request to be supported by a current, well-documented credit evaluation of the borrower’s financial condition and a collateral evaluation that is no older than six months from the date of the restructure. Key factors of that evaluation include the documentation of current, recurring cash flows, support provided by the guarantor(s) and the current valuation of the collateral. If the appraisal in the file is older than six months, an evaluation must be made as to the continued reasonableness of the valuation. For certain income-producing properties, current rent rolls and/or other income information can be utilized to support the appraisal valuation, when coupled with documented cap rates within our markets and a physical inspection of the collateral to validate the current condition. | |||||||||||||||||||||||||||||||||
The Company’s policy states that in the event a loan has been identified as a troubled debt restructuring, it should be assigned a grade of substandard and placed on nonaccrual status until such time the borrower has demonstrated the ability to service the loan payments based on the restructured terms – generally defined as six months of satisfactory payment history. Missed payments under the original loan terms are not considered under the new structure; however, subsequent missed payments are considered non-performance and are not considered toward the six month required term of satisfactory payment history. The Company’s loan policy states that a nonaccrual loan may be returned to accrual status when (i) none of its principal and interest is due and unpaid, and the Company expects repayment of the remaining contractual principal and interest or (ii) it otherwise becomes well secured and in the process of collection. Restoration to accrual status on any given loan must be supported by a well-documented credit evaluation of the borrower’s financial condition and the prospects for full repayment, approved by the Company’s Chief Credit Officer. | |||||||||||||||||||||||||||||||||
In the normal course of business, the Company renews loans with a modification of the interest rate or terms that are not deemed as troubled debt restructurings because the borrower is not experiencing financial difficulty. The Company modified loans in the first three months of 2015 and 2014 totaling $32.0 million and $6.3 million, respectively, 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. | |||||||||||||||||||||||||||||||||
As of March 31, 2015, December 31, 2014 and March 31, 2014, the Company had a balance of $13.9 million, $15.3 million and $21.2 million, respectively, in troubled debt restructurings, excluding purchased non-covered and covered loans. The Company has recorded $1.6 million, $2.2 million and $2.3 million in previous charge-offs on such loans at March 31, 2015, December 31, 2014 and March 31, 2014, respectively. The Company’s balance in the allowance for loan losses allocated to such troubled debt restructurings was $1.6 million, $231,000 and $422,000 at March 31, 2015, December 31, 2014 and March 31, 2014, respectively. At March 31, 2015, the Company did not have any commitments to lend additional funds to debtors whose terms have been modified in troubled restructurings. | |||||||||||||||||||||||||||||||||
During the three months ending March 31, 2015 and 2014, the Company modified loans as troubled debt restructurings with principal balances of $2.7 million and $1.2 million, respectively, and these modifications did not have a material impact on the Company’s allowance for loan loss. The following table presents the loans by class modified as troubled debt restructurings that occurred during the three months ending March 31, 2015 and 2014: | |||||||||||||||||||||||||||||||||
March 31, 2015 | March 31, 2014 | ||||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | — | $ | — | 1 | $ | 7 | |||||||||||||||||||||||||||
Real estate – construction & development | — | — | 2 | 79 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 2 | 2,015 | 3 | 1,052 | |||||||||||||||||||||||||||||
Real estate – residential | 7 | 666 | 1 | 21 | |||||||||||||||||||||||||||||
Consumer installment | 3 | 17 | 5 | 21 | |||||||||||||||||||||||||||||
Total | 12 | $ | 2,698 | 12 | $ | 1,180 | |||||||||||||||||||||||||||
Troubled debt restructurings with an outstanding balance of $1.5 million and $2.2 million defaulted during the three months ended March 31, 2015 and 2014, respectively, and these defaults did not have a material impact on the Company’s allowance for loan loss. The following table presents the troubled debt restructurings by class that defaulted during the three months ending March 31, 2015 and 2014: | |||||||||||||||||||||||||||||||||
March 31, 2015 | March 31, 2014 | ||||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 1 | $ | 5 | — | $ | — | |||||||||||||||||||||||||||
Real estate – construction & development | — | — | 2 | 40 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 3 | 746 | 4 | 1,897 | |||||||||||||||||||||||||||||
Real estate – residential | 6 | 748 | 3 | 280 | |||||||||||||||||||||||||||||
Consumer installment | 4 | 20 | 1 | 24 | |||||||||||||||||||||||||||||
Total | 14 | $ | 1,519 | 10 | $ | 2,241 | |||||||||||||||||||||||||||
The following table presents the amount of troubled debt restructurings by loan class, excluding purchased non-covered and covered loans, classified separately as accrual and non-accrual at March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||||||
As of March 31, 2015 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 5 | $ | 277 | 3 | $ | 17 | |||||||||||||||||||||||||||
Real estate – construction & development | 9 | 789 | 4 | 90 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 20 | 7,309 | 1 | 64 | |||||||||||||||||||||||||||||
Real estate – residential | 42 | 4,513 | 11 | 736 | |||||||||||||||||||||||||||||
Consumer installment | 10 | 47 | 15 | 90 | |||||||||||||||||||||||||||||
Total | 86 | $ | 12,935 | 34 | $ | 997 | |||||||||||||||||||||||||||
As of December 31, 2014 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 6 | $ | 290 | 2 | $ | 13 | |||||||||||||||||||||||||||
Real estate – construction & development | 9 | 679 | 5 | 228 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 19 | 6,477 | 3 | 724 | |||||||||||||||||||||||||||||
Real estate – residential | 47 | 5,258 | 11 | 1,485 | |||||||||||||||||||||||||||||
Consumer installment | 11 | 55 | 11 | 73 | |||||||||||||||||||||||||||||
Total | 92 | $ | 12,759 | 32 | $ | 2,523 | |||||||||||||||||||||||||||
As of March 31, 2014 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 4 | $ | 711 | 2 | $ | 40 | |||||||||||||||||||||||||||
Real estate – construction & development | 11 | 1,953 | 1 | 29 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 19 | 8,733 | 5 | 1,316 | |||||||||||||||||||||||||||||
Real estate – residential | 35 | 7,364 | 8 | 961 | |||||||||||||||||||||||||||||
Consumer installment | 11 | 87 | 2 | 19 | |||||||||||||||||||||||||||||
Total | 80 | $ | 18,848 | 18 | $ | 2,365 | |||||||||||||||||||||||||||
As of March 31, 2015, December 31, 2014 and March 31, 2014, the Company had a balance of $1.7 million, $1.2 million and $6.5 million, respectively, in troubled debt restructurings included in purchased non-covered loans. The Company has not recorded any previous charge-offs on such loans at March 31, 2015 and 2014. The Company had recorded $29,000 in previous charge-offs on such loans at December 31, 2014. At March 31, 2015, the Company did not have any commitments to lend additional funds to debtors whose terms have been modified in troubled restructurings. | |||||||||||||||||||||||||||||||||
The following table presents the amount of troubled debt restructurings by loan class of purchased non-covered loans, classified separately as accrual and non-accrual at March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||||||
As of March 31, 2015 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | — | $ | — | 1 | $ | 1 | |||||||||||||||||||||||||||
Real estate – construction & development | 1 | 328 | — | — | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 3 | 720 | 1 | 69 | |||||||||||||||||||||||||||||
Real estate – residential | 5 | 477 | 2 | 93 | |||||||||||||||||||||||||||||
Consumer installment | 1 | 1 | 1 | 4 | |||||||||||||||||||||||||||||
Total | 10 | $ | 1,526 | 5 | $ | 167 | |||||||||||||||||||||||||||
As of December 31, 2014 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | — | $ | — | — | $ | — | |||||||||||||||||||||||||||
Real estate – construction & development | 1 | 317 | — | — | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 1 | 346 | — | — | |||||||||||||||||||||||||||||
Real estate – residential | 6 | 547 | 1 | 25 | |||||||||||||||||||||||||||||
Consumer installment | 1 | 2 | — | — | |||||||||||||||||||||||||||||
Total | 9 | $ | 1,212 | 1 | $ | 25 | |||||||||||||||||||||||||||
As of March 31, 2014 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | — | $ | — | 1 | $ | 6 | |||||||||||||||||||||||||||
Real estate – construction & development | 7 | 2,443 | 2 | 264 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 2 | 961 | 2 | 726 | |||||||||||||||||||||||||||||
Real estate – residential | 12 | 1,779 | 4 | 255 | |||||||||||||||||||||||||||||
Consumer installment | 1 | 8 | 2 | 17 | |||||||||||||||||||||||||||||
Total | 22 | $ | 5,191 | 11 | $ | 1,268 | |||||||||||||||||||||||||||
As of March 31, 2015, December 31, 2014 and March 31, 2014, the Company had a balance of $23.3 million, $24.6 million and $27.8 million, respectively, in troubled debt restructurings included in covered loans. The Company has recorded $1.1 million, $1.8 million and $3.2 million in previous charge-offs on such loans at March 31, 2015, December 31, 2014 and March 31, 2014, respectively. At March 31, 2015, the Company did not have any commitments to lend additional funds to debtors whose terms have been modified in troubled restructurings. | |||||||||||||||||||||||||||||||||
The following table presents the amount of troubled debt restructurings by loan class of covered loans, classified separately as accrual and non-accrual at March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||||||
As of March 31, 2015 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 1 | $ | 3 | 2 | $ | — | |||||||||||||||||||||||||||
Real estate – construction & development | 3 | 2,819 | 1 | 13 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 13 | 6,461 | 2 | 1,736 | |||||||||||||||||||||||||||||
Real estate – residential | 97 | 11,436 | 10 | 821 | |||||||||||||||||||||||||||||
Consumer installment | 1 | 2 | — | — | |||||||||||||||||||||||||||||
Total | 115 | $ | 20,721 | 15 | $ | 2,570 | |||||||||||||||||||||||||||
As of December 31, 2014 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 2 | $ | 40 | 2 | $ | — | |||||||||||||||||||||||||||
Real estate – construction & development | 4 | 3,037 | 2 | 29 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 14 | 8,079 | 5 | 1,082 | |||||||||||||||||||||||||||||
Real estate – residential | 96 | 11,460 | 8 | 831 | |||||||||||||||||||||||||||||
Consumer installment | 1 | 3 | — | — | |||||||||||||||||||||||||||||
Total | 117 | $ | 22,619 | 17 | $ | 1,942 | |||||||||||||||||||||||||||
As of March 31, 2014 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 1 | $ | 14 | 5 | $ | 68 | |||||||||||||||||||||||||||
Real estate – construction & development | 3 | 3,254 | 5 | 49 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 14 | 7,461 | 7 | 3,872 | |||||||||||||||||||||||||||||
Real estate – residential | 85 | 12,046 | 9 | 1,031 | |||||||||||||||||||||||||||||
Consumer installment | — | — | 1 | 5 | |||||||||||||||||||||||||||||
Total | 103 | $ | 22,775 | 27 | $ | 5,025 | |||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
The allowance for loan losses represents an allowance for probable incurred losses in the loan portfolio. The adequacy of the allowance for loan losses is evaluated periodically based on a review of all significant loans, with a particular emphasis on non-accruing, past due and other loans that management believes might be potentially impaired or warrant additional attention. The Company segregates the loan portfolio by type of loan and utilizes this segregation in evaluating exposure to risks within the portfolio. In addition, based on internal reviews and external reviews performed by 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 current loan quality trends, current economic conditions and other factors in the markets where the Company operates. Factors considered include, among others, current valuations of real estate in the Company’s markets, unemployment rates, the effect of weather conditions on agricultural related entities and other significant local economic events. | |||||||||||||||||||||||||||||||||
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 certain mortgage loans serviced at a third party, mortgage warehouse lines 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. All relationships greater than $1.0 million and the majority of relationships greater than $250,000 are reviewed annually by the Bank’s independent internal loan review department or an independent third party loan review firm. As a result of these loan reviews, certain loans may be identified as having deteriorating credit quality. 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 independent internal loan review department. | |||||||||||||||||||||||||||||||||
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 three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014, the Company recorded provision for loan loss expense of $401,000, $843,000 and $225,000, respectively, net of the FDIC loss-share receivable, to account for losses where there was a decrease in cash flows from the initial estimates on loans acquired in FDIC-assisted transactions. During the three months ended March 31, 2015, the Company recorded a net provision for loan loss credit of $432,000 due to recoveries received on previously charged off purchased non-covered loans. During the year ended December 31, 2014 the Company recorded provision for loan loss expense of $84,000 to account for losses where there was a decrease in cash flows from the initial estimates on purchased non-covered loans. Charge-offs on purchased loans, both covered and non-covered, are recorded when impairment is recorded. Provision expense for covered loans is recorded net of the indemnification by the FDIC loss-share agreements. | |||||||||||||||||||||||||||||||||
The following table details activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2015. 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 | Purchased | Covered | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | non-covered | loans | |||||||||||||||||||||||||||
agricultural | development | farmland | loans and | loans | |||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Three months ended March 31, 2015: | |||||||||||||||||||||||||||||||||
Balance, January 1, 2015 | $ | 2,004 | $ | 5,030 | $ | 8,823 | $ | 4,129 | $ | 1,171 | $ | — | $ | — | $ | 21,157 | |||||||||||||||||
Provision for loan losses | (498 | ) | 347 | (56 | ) | 1,090 | 217 | (432 | ) | 401 | 1,069 | ||||||||||||||||||||||
Loans charged off | (392 | ) | (97 | ) | (12 | ) | (268 | ) | (86 | ) | (230 | ) | (563 | ) | (1,648 | ) | |||||||||||||||||
Recoveries of loans previously charged off | 285 | 31 | 15 | 57 | 62 | 662 | 162 | 1,274 | |||||||||||||||||||||||||
Balance, March 31, 2015 | $ | 1,399 | $ | 5,311 | $ | 8,770 | $ | 5,008 | $ | 1,364 | $ | — | $ | — | $ | 21,852 | |||||||||||||||||
Period-end amount allocated to: | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 230 | $ | 627 | $ | 2,123 | $ | 1,837 | $ | — | $ | — | $ | — | $ | 4,817 | |||||||||||||||||
Loans collectively evaluated for impairment | 1,169 | 4,684 | 6,647 | 3,171 | 1,364 | — | — | 17,035 | |||||||||||||||||||||||||
Ending balance | $ | 1,399 | $ | 5,311 | $ | 8,770 | $ | 5,008 | $ | 1,364 | $ | — | $ | — | $ | 21,852 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 324 | $ | 2,982 | $ | 14,557 | $ | 11,124 | $ | — | $ | — | $ | — | $ | 28,987 | |||||||||||||||||
Collectively evaluated for impairment | 334,593 | 175,586 | 932,717 | 484,919 | 42,618 | 552,837 | 108,113 | 2,631,383 | |||||||||||||||||||||||||
Acquired with deteriorated credit quality | — | — | — | — | — | 90,255 | 137,632 | 227,887 | |||||||||||||||||||||||||
Ending balance | $ | 334,917 | $ | 178,568 | $ | 947,274 | $ | 496,043 | $ | 42,618 | $ | 643,092 | $ | 245,745 | $ | 2,888,257 | |||||||||||||||||
Commercial, | Real estate – | Real estate – | Real estate - | Consumer | Purchased | Covered | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | non-covered | loans | |||||||||||||||||||||||||||
agricultural | development | farmland | loans and | loans | |||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Twelve months ended December 31, 2014: | |||||||||||||||||||||||||||||||||
Balance, January 1, 2014 | $ | 1,823 | $ | 5,538 | $ | 8,393 | $ | 6,034 | $ | 589 | $ | — | $ | — | $ | 22,377 | |||||||||||||||||
Provision for loan losses | 1,427 | (265 | ) | 3,444 | (452 | ) | 567 | 84 | 843 | 5,648 | |||||||||||||||||||||||
Loans charged off | (1,567 | ) | (592 | ) | (3,288 | ) | (1,707 | ) | (471 | ) | (84 | ) | (1,851 | ) | (9,560 | ) | |||||||||||||||||
Recoveries of loans previously charged off | 321 | 349 | 274 | 254 | 486 | — | 1,008 | 2,692 | |||||||||||||||||||||||||
Balance, December 31, 2014 | $ | 2,004 | $ | 5,030 | $ | 8,823 | $ | 4,129 | $ | 1,171 | $ | — | $ | — | $ | 21,157 | |||||||||||||||||
Period-end amount allocated to: | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 375 | $ | 743 | $ | 1,861 | $ | 911 | $ | — | $ | — | $ | — | $ | 3,890 | |||||||||||||||||
Loans collectively evaluated for impairment | 1,629 | 4,287 | 6,962 | 3,218 | 1,171 | — | — | 17,267 | |||||||||||||||||||||||||
Ending balance | $ | 2,004 | $ | 5,030 | $ | 8,823 | $ | 4,129 | $ | 1,171 | $ | — | $ | — | $ | 21,157 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 490 | $ | 3,709 | $ | 14,546 | $ | 8,904 | $ | — | $ | — | $ | — | $ | 27,649 | |||||||||||||||||
Collectively evaluated for impairment | 319,164 | 157,798 | 892,978 | 447,202 | 45,090 | 579,172 | 122,248 | 2,563,652 | |||||||||||||||||||||||||
Acquired with deteriorated credit quality | — | — | — | — | — | 95,067 | 149,031 | 244,098 | |||||||||||||||||||||||||
Ending balance | $ | 319,654 | $ | 161,507 | $ | 907,524 | $ | 456,106 | $ | 45,090 | $ | 674,239 | $ | 271,279 | $ | 2,835,399 | |||||||||||||||||
Commercial, | Real estate – | Real estate – | Real estate - | Consumer | Purchased | Covered | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | non-covered | loans | |||||||||||||||||||||||||||
agricultural | development | farmland | loans and | loans | |||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Three months ended March 31, 2014: | |||||||||||||||||||||||||||||||||
Balance, January 1, 2014 | $ | 1,823 | $ | 5,538 | $ | 8,393 | $ | 6,034 | $ | 589 | $ | — | $ | — | $ | 22,377 | |||||||||||||||||
Provision for loan losses | 1,090 | 337 | 622 | (656 | ) | 108 | — | 225 | 1,726 | ||||||||||||||||||||||||
Loans charged off | (743 | ) | (65 | ) | (533 | ) | (181 | ) | (84 | ) | — | (498 | ) | (2,104 | ) | ||||||||||||||||||
Recoveries of loans previously charged off | 49 | 108 | 143 | 83 | 89 | — | 273 | 745 | |||||||||||||||||||||||||
Balance, March 31, 2014 | $ | 2,219 | $ | 5,918 | $ | 8,625 | $ | 5,280 | $ | 702 | $ | — | $ | — | $ | 22,744 | |||||||||||||||||
Period-end amount allocated to: | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 318 | $ | 631 | $ | 1,994 | $ | 1,133 | $ | — | $ | — | $ | — | $ | 4,076 | |||||||||||||||||
Loans collectively evaluated for impairment | 1,901 | 5,287 | 6,631 | 4,147 | 702 | — | — | 18,668 | |||||||||||||||||||||||||
Ending balance | $ | 2,219 | $ | 5,918 | $ | 8,625 | $ | 5,280 | $ | 702 | $ | — | $ | — | $ | 22,744 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,837 | $ | 3,817 | $ | 16,832 | $ | 14,602 | $ | — | $ | — | $ | — | $ | 38,088 | |||||||||||||||||
Collectively evaluated for impairment | 267,734 | 145,726 | 819,398 | 378,399 | 46,037 | 383,709 | 167,493 | 2,208,496 | |||||||||||||||||||||||||
Acquired with deteriorated credit quality | — | — | — | — | — | 53,560 | 205,201 | 258,761 | |||||||||||||||||||||||||
Ending balance | $ | 270,571 | $ | 149,543 | $ | 836,230 | $ | 393,001 | $ | 46,037 | $ | 437,269 | $ | 372,694 | $ | 2,505,345 | |||||||||||||||||
Assets_Acquired_in_FDICAssiste
Assets Acquired in FDIC-Assisted Acquisitions | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||
Banking and Thrift [Abstract] | |||||||||||||||||||||||||||||||||
Assets Acquired in FDIC-Assisted Acquisitions | NOTE 6 – 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. | |||||||||||||||||||||||||||||||||
At March 31, 2015, the Company’s FDIC loss-sharing receivable totaled $23.3 million, which is comprised of $16.1 million in indemnification asset (for reimbursements associated with anticipated losses in future quarters) and $14.0 million in current charge-offs and expenses already incurred but not yet submitted for reimbursement, less the accrued clawback liability of $6.8 million. | |||||||||||||||||||||||||||||||||
The following table summarizes components of all covered assets at March 31, 2015, December 31, 2014 and March 31, 2014 and their origin: | |||||||||||||||||||||||||||||||||
Covered loans | Less: Fair | Total | OREO | Less: Fair | Total | Total | FDIC loss-share | ||||||||||||||||||||||||||
value | covered | value | covered | covered | receivable | ||||||||||||||||||||||||||||
adjustments | loans | adjustments | OREO | assets | (payable) | ||||||||||||||||||||||||||||
As of March 31, 2015: | |||||||||||||||||||||||||||||||||
AUB | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 248 | |||||||||||||||||
USB | 4,031 | 19 | 4,012 | 165 | — | 165 | 4,177 | (1,216 | ) | ||||||||||||||||||||||||
SCB | 23,803 | 512 | 23,291 | 2,474 | 389 | 2,085 | 25,376 | 2,093 | |||||||||||||||||||||||||
FBJ | 19,409 | 1,539 | 17,870 | 427 | 56 | 371 | 18,241 | 1,366 | |||||||||||||||||||||||||
DBT | 53,832 | 4,740 | 49,092 | 5,716 | 381 | 5,335 | 54,427 | 3,576 | |||||||||||||||||||||||||
TBC | 21,068 | 570 | 20,498 | 1,698 | 162 | 1,536 | 22,034 | 1,545 | |||||||||||||||||||||||||
HTB | 48,384 | 4,331 | 44,053 | 2,885 | 938 | 1,947 | 46,000 | 7,069 | |||||||||||||||||||||||||
OGB | 38,699 | 2,409 | 36,290 | 1,435 | 39 | 1,396 | 37,686 | 2,748 | |||||||||||||||||||||||||
CBG | 56,262 | 5,623 | 50,639 | 3,731 | 477 | 3,254 | 53,893 | 5,883 | |||||||||||||||||||||||||
Total | $ | 265,488 | $ | 19,743 | $ | 245,745 | $ | 18,531 | $ | 2,442 | $ | 16,089 | $ | 261,834 | $ | 23,312 | |||||||||||||||||
Covered loans | Less: Fair | Total | OREO | Less: Fair | Total | Total | FDIC loss-share | ||||||||||||||||||||||||||
value | covered | value | covered | covered | receivable | ||||||||||||||||||||||||||||
adjustments | loans | adjustments | OREO | assets | (payable) | ||||||||||||||||||||||||||||
As of December 31, 2014: | |||||||||||||||||||||||||||||||||
AUB | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 188 | |||||||||||||||||
USB | 4,350 | 150 | 4,200 | 165 | — | 165 | 4,365 | (1,197 | ) | ||||||||||||||||||||||||
SCB | 26,686 | 602 | 26,084 | 2,849 | 389 | 2,460 | 28,544 | 1,828 | |||||||||||||||||||||||||
FBJ | 21,243 | 1,825 | 19,418 | 632 | — | 632 | 20,050 | 1,885 | |||||||||||||||||||||||||
DBT | 64,338 | 6,437 | 57,901 | 6,655 | 514 | 6,141 | 64,042 | 6,860 | |||||||||||||||||||||||||
TBC | 23,487 | 1,117 | 22,370 | 2,388 | 367 | 2,021 | 24,391 | 3,287 | |||||||||||||||||||||||||
HTB | 52,699 | 5,120 | 47,579 | 3,670 | 1,283 | 2,387 | 49,966 | 6,459 | |||||||||||||||||||||||||
OGB | 42,971 | 3,785 | 39,186 | 2,244 | 39 | 2,205 | 41,391 | 3,906 | |||||||||||||||||||||||||
CBG | 60,950 | 6,409 | 54,541 | 4,805 | 909 | 3,896 | 58,437 | 8,135 | |||||||||||||||||||||||||
Total | $ | 296,724 | $ | 25,445 | $ | 271,279 | $ | 23,408 | $ | 3,501 | $ | 19,907 | $ | 291,186 | $ | 31,351 | |||||||||||||||||
Covered loans | Less: Fair | Total | OREO | Less: Fair | Total | Total | FDIC loss-share | ||||||||||||||||||||||||||
value | covered | value | covered | covered | receivable | ||||||||||||||||||||||||||||
adjustments | loans | adjustments | OREO | assets | |||||||||||||||||||||||||||||
As of March 31, 2014: | |||||||||||||||||||||||||||||||||
AUB | $ | 13,629 | $ | 220 | $ | 13,409 | $ | 4,264 | $ | — | $ | 4,264 | $ | 17,673 | $ | 1,190 | |||||||||||||||||
USB | 15,668 | 935 | 14,733 | 3,366 | 135 | 3,231 | 17,964 | 535 | |||||||||||||||||||||||||
SCB | 33,896 | 1,274 | 32,622 | 3,122 | 303 | 2,819 | 35,441 | 2,781 | |||||||||||||||||||||||||
FBJ | 24,281 | 2,768 | 21,513 | 1,850 | 253 | 1,597 | 23,110 | 3,034 | |||||||||||||||||||||||||
DBT | 100,909 | 13,138 | 87,771 | 12,250 | 1,092 | 11,158 | 98,929 | 14,947 | |||||||||||||||||||||||||
TBC | 31,576 | 2,119 | 29,457 | 4,681 | 761 | 3,920 | 33,377 | 3,425 | |||||||||||||||||||||||||
HTB | 61,560 | 6,630 | 54,930 | 7,263 | 2,349 | 4,914 | 59,844 | 8,540 | |||||||||||||||||||||||||
OGB | 55,569 | 4,653 | 50,916 | 8,169 | 2,984 | 5,185 | 56,101 | 6,815 | |||||||||||||||||||||||||
CBG | 77,767 | 10,424 | 67,343 | 7,127 | 1,579 | 5,548 | 72,891 | 11,914 | |||||||||||||||||||||||||
Total | $ | 414,855 | $ | 42,161 | $ | 372,694 | $ | 52,092 | $ | 9,456 | $ | 42,636 | $ | 415,330 | $ | 53,181 | |||||||||||||||||
A rollforward of acquired covered loans for the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014 is shown below: | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Balance, January 1 | $ | 271,279 | $ | 390,237 | $ | 390,237 | |||||||||||||||||||||||||||
Charge-offs | (2,812 | ) | (9,255 | ) | (4,326 | ) | |||||||||||||||||||||||||||
Accretion | 4,466 | 22,188 | 9,767 | ||||||||||||||||||||||||||||||
Transfer to covered other real estate owned | (1,230 | ) | (13,650 | ) | (4,925 | ) | |||||||||||||||||||||||||||
Transfer to purchased, non-covered loans due to loss-share expiration | — | (15,475 | ) | — | |||||||||||||||||||||||||||||
Payments received | (25,958 | ) | (102,996 | ) | (18,070 | ) | |||||||||||||||||||||||||||
Other | — | 230 | 11 | ||||||||||||||||||||||||||||||
Ending balance | $ | 245,745 | $ | 271,279 | $ | 372,694 | |||||||||||||||||||||||||||
The following is a summary of changes in the accretable discounts of acquired loans during the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014: | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Balance, January 1 | $ | 15,578 | $ | 25,493 | $ | 25,493 | |||||||||||||||||||||||||||
Accretion | (4,466 | ) | (22,188 | ) | (9,767 | ) | |||||||||||||||||||||||||||
Transfers between non-accretable and accretable discounts, net | 1,853 | 12,273 | 365 | ||||||||||||||||||||||||||||||
Ending balance | $ | 12,965 | $ | 15,578 | $ | 16,091 | |||||||||||||||||||||||||||
The shared-loss agreements are subject to the servicing procedures as specified in the agreement with the FDIC. The expected reimbursements under the shared-loss agreements were recorded as an indemnification asset at their estimated fair values on the acquisition dates. As of March 31, 2015, December 31, 2014 and March 31, 2014, the Company has recorded a clawback liability of $6.8 million, $6.2 million and $5.2 million, respectively, which represents the obligation of the Company to reimburse the FDIC should actual losses be less than certain thresholds established in each loss-share agreement. Changes in the FDIC shared-loss receivable for the three months ended March 31, 2015, for the year ended December 31, 2014 and for the three months ended March 31, 2014 are as follows: | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Beginning balance, January 1 | $ | 31,351 | $ | 65,441 | $ | 65,441 | |||||||||||||||||||||||||||
Payments received from FDIC | (6,390 | ) | (22,494 | ) | (6,773 | ) | |||||||||||||||||||||||||||
Accretion (amortization) | (3,666 | ) | (18,449 | ) | (8,203 | ) | |||||||||||||||||||||||||||
Changes in clawback liability | (569 | ) | (1,222 | ) | (164 | ) | |||||||||||||||||||||||||||
Increase in receivable due to: | |||||||||||||||||||||||||||||||||
Charge-offs on covered loans | 1,602 | 3,372 | 2,369 | ||||||||||||||||||||||||||||||
Write downs of covered other real estate | 804 | 4,771 | 876 | ||||||||||||||||||||||||||||||
Reimbursable expenses on covered assets | 651 | 1,078 | 483 | ||||||||||||||||||||||||||||||
Other activity, net | (471 | ) | (1,146 | ) | (848 | ) | |||||||||||||||||||||||||||
Ending balance | $ | 23,312 | $ | 31,351 | $ | 53,181 | |||||||||||||||||||||||||||
Other_Real_Estate_Owned
Other Real Estate Owned | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Banking and Thrift [Abstract] | |||||||||||||
Other Real Estate Owned | NOTE 7. OTHER REAL ESTATE OWNED | ||||||||||||
The following is a summary of the activity in other real estate owned during the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014: | |||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||
2015 | 2014 | 2014 | |||||||||||
Beginning balance, January 1 | $ | 33,160 | $ | 33,351 | $ | 33,351 | |||||||
Loans transferred to other real estate owned | 2,444 | 11,972 | 2,554 | ||||||||||
Net gains (losses) on sale and write-downs | (958 | ) | (4,585 | ) | (750 | ) | |||||||
Sales proceeds | (2,307 | ) | (7,578 | ) | (1,316 | ) | |||||||
Ending balance | $ | 32,339 | $ | 33,160 | $ | 33,839 | |||||||
The following is a summary of the activity in purchased, non-covered other real estate owned during the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014: | |||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||
2015 | 2014 | 2014 | |||||||||||
Beginning balance, January 1 | $ | 15,585 | $ | 4,276 | $ | 4,276 | |||||||
Loans transferred to other real estate owned | 1,094 | 4,160 | 68 | ||||||||||
Acquired in acquisitions | — | 8,864 | — | ||||||||||
Transfer from covered other real estate owned due to loss-share expiration | — | 1,226 | — | ||||||||||
Net gains (losses) on sale and write-downs | 129 | 828 | 49 | ||||||||||
Sales proceeds | (2,990 | ) | (3,769 | ) | (529 | ) | |||||||
Ending balance | $ | 13,818 | $ | 15,585 | $ | 3,864 | |||||||
The following is a summary of the activity in covered other real estate owned during the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014: | |||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||
2015 | 2014 | 2014 | |||||||||||
Beginning balance, January 1 | $ | 19,907 | $ | 45,893 | $ | 45,893 | |||||||
Loans transferred to other real estate owned | 1,230 | 13,650 | 4,925 | ||||||||||
Transfer from covered other real estate owned due to loss-share expiration | — | (1,226 | ) | — | |||||||||
Net gains (losses) on sale and write-downs | (1,005 | ) | (5,965 | ) | (1,095 | ) | |||||||
Sales proceeds | (4,043 | ) | (32,445 | ) | (7,087 | ) | |||||||
Ending balance | $ | 16,089 | $ | 19,907 | $ | 42,636 | |||||||
Weighted_Average_Shares_Outsta
Weighted Average Shares Outstanding | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Weighted Average Shares Outstanding | |||||||||
NOTE 8 – 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 | |||||||||
Ended March 31, | |||||||||
2015 | 2014 | ||||||||
(share data in | |||||||||
thousands) | |||||||||
Basic shares outstanding | 30,443 | 25,144 | |||||||
Plus: Dilutive effect of ISOs | 124 | 95 | |||||||
Plus: Dilutive effect of Restricted Grants | 229 | 334 | |||||||
Diluted shares outstanding | 30,796 | 25,573 | |||||||
For the quarter ended March 31, 2014, the Company excluded 268,000 potential common shares with strike prices that would cause them to be anti-dilutive. The Company has not excluded any potential common shares at March 31, 2015. |
Other_Borrowings
Other Borrowings | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Debt Disclosure [Abstract] | |||||||||||||
Other Borrowings | NOTE 9 – 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 March 31, 2015, December 31, 2014 and March 31, 2014, there were $43.9 million, $78.9 million and $59.7 million, respectively, outstanding borrowings with the Company’s correspondent banks. | |||||||||||||
Other borrowings consist of the following: | |||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||
2015 | 2014 | 2014 | |||||||||||
Daily Rate Credit from Federal Home Loan Bank with a fixed interest rate of 0.36% | $ | — | $ | 35,000 | $ | 25,000 | |||||||
Advances under revolving credit agreement with a regional bank with interest at 90-day LIBOR plus 3.50% (3.73% at March 31, 2015 and December 31, 2014) due in August 2016, secured by subsidiary bank stock | 24,000 | 24,000 | — | ||||||||||
Advances under revolving credit agreement with a regional bank with interest at 90-day LIBOR plus 4.00% (4.24% at March 31, 2014) due in August 2016, secured by subsidiary bank stock | — | — | 10,000 | ||||||||||
Advance from correspondent bank with a fixed interest rate of 4.50%, due November 27, 2017, secured by subsidiary bank loan receivable | 4,851 | 4,881 | 4,963 | ||||||||||
Subordinated debt issued by Prosperity Bank due June 2016 with an interest rate of 90-day LIBOR plus 1.60% (1.84% at March 31, 2014) | — | — | 5,000 | ||||||||||
Subordinated debt issued by The Prosperity Banking Company due September 2016 with an interest rate of 90-day LIBOR plus 1.75% (2.02% at March 31, 2015, 1.99% at December 31, 2014 and 1.98% at March 31, 2014) | 15,000 | 15,000 | 14,714 | ||||||||||
Total | $ | 43,851 | $ | 78,881 | $ | 59,677 | |||||||
The advances from the Federal Home Loan Bank (“FHLB”) are collateralized by a blanket lien on all first mortgage loans and other specific loans in addition to FHLB stock. At March 31, 2015, $275.5 million was available for borrowing on lines with the FHLB. | |||||||||||||
As of March 31, 2015, the Company maintained credit arrangements with various financial institutions to purchase federal funds up to $50 million. | |||||||||||||
The Company also participates in the Federal Reserve discount window borrowings. At March 31, 2015, the Company had $581.8 million of loans pledged at the Federal Reserve discount window and had $409.7 million available for borrowing. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||
Commitments and Contingencies | NOTE 10 – COMMITMENTS AND CONTINGENCIES | ||||||||||||
Loan Commitments | |||||||||||||
The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. They involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amount recognized in the balance sheets. | |||||||||||||
The Company’s exposure to credit loss is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. A summary of the Company’s commitments is as follows: | |||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||
2015 | 2014 | 2014 | |||||||||||
Commitments to extend credit | $ | 328,191 | $ | 293,517 | $ | 235,367 | |||||||
Unused lines of credit | $ | 143,962 | $ | 49,567 | $ | 35,705 | |||||||
Financial standby letters of credit | $ | 10,548 | $ | 9,683 | $ | 7,961 | |||||||
Mortgage interest rate lock commitments | $ | 91,482 | $ | 38,868 | $ | 64,759 | |||||||
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 amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the customer. | |||||||||||||
Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. Collateral is required in instances which the Company deems necessary. | |||||||||||||
Contingencies | |||||||||||||
Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management and its legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s legal counsel evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. | |||||||||||||
If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. | |||||||||||||
Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed. | |||||||||||||
A former borrower of the Company has filed a claim related to a loan previously made by the Company asserting lender liability. The case was tried without a jury and an order was issued by the court against the Company awarding the borrower approximately $2.9 million. The order is currently on appeal to the South Carolina Court of Appeals and the Company is asserting it had no fiduciary responsibility to the borrower. As of March 31, 2015, the Company believes that it has valid bases in law and fact to overturn on appeal the verdict. As a result, the Company believes that the likelihood that the amount of the judgment will be affirmed is not probable, and, accordingly, that the amount of any loss cannot be reasonably estimated at this time. Because the Company believes that this potential loss is not probable or estimable, it has not recorded any reserves or contingencies related to this legal matter. In the event that the Company’s assumptions used to evaluate this matter as neither probable nor estimable change in future periods, it may be required to record a liability for an adverse outcome. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Equity [Abstract] | |||||||||||||
Accumulated Other Comprehensive Income | NOTE 11 – ACCUMULATED OTHER COMPREHENSIVE INCOME | ||||||||||||
Accumulated other comprehensive income for the Company consists of changes in net unrealized gains and losses on investment securities available for sale and interest rate swap derivatives. The following tables present a summary of the accumulated other comprehensive income balances, net of tax, as of March 31, 2015 and 2014. | |||||||||||||
(Dollars in Thousands) | Unrealized Gain (Loss) | Unrealized Gain (Loss) | Accumulated Other | ||||||||||
on Derivatives | on Securities | Comprehensive Income | |||||||||||
(Loss) | |||||||||||||
Balance, January 1, 2015 | $ | 508 | $ | 5,590 | $ | 6,098 | |||||||
Reclassification for gains included in net income | — | (8 | ) | (8 | ) | ||||||||
Current year changes | (387 | ) | 650 | 263 | |||||||||
Balance, March 31, 2015 | $ | 121 | $ | 6,232 | $ | 6,353 | |||||||
(Dollars in Thousands) | Unrealized Gain (Loss) | Unrealized Gain (Loss) | Accumulated Other | ||||||||||
on Derivatives | on Securities | Comprehensive Income | |||||||||||
(Loss) | |||||||||||||
Balance, January 1, 2014 | $ | 1,397 | $ | (1,691 | ) | $ | (294 | ) | |||||
Reclassification for gains included in net income | — | (4 | ) | (4 | ) | ||||||||
Current year changes | (266 | ) | 2,938 | 2,672 | |||||||||
Balance, March 31, 2014 | $ | 1,131 | $ | 1,243 | $ | 2,374 | |||||||
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Fair Value of Financial Instruments | NOTE 12 – 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 earnings and comprehensive income under the heading “Interest income – interest and fees on loans”. The servicing value is included in the fair value of the interest rate lock commitments (“IRLCs”) with borrowers. The mark to market adjustments related to loans held-for-sale and the associated economic hedges are captured in mortgage banking activities. Net gains of $2.6 million and $1.1 million resulting from fair value changes of these mortgage loans were recorded in income during the three months ended March 31, 2015 and 2014, respectively. The amount does not reflect changes in fair values of related derivative instruments used to hedge exposure to market-related risks associated with these mortgage loans. The change in fair value of both mortgage loans held for sale and the related derivative instruments are recorded in “Mortgage banking activity” in the Consolidated Statements of Earnings and Comprehensive Income. The Company’s valuation of mortgage loans held for sale incorporates an assumption for credit risk; however, given the short-term period that the Company holds these loans, valuation adjustments attributable to instrument-specific credit risk is nominal. | |||||||||||||||||||||
The following table summarizes the difference between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||
March 31, | December 31, | March 31, | |||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Aggregate Fair Value of Mortgage Loans held for sale | $ | 73,796 | $ | 94,759 | $ | 51,693 | |||||||||||||||
Aggregate Unpaid Principal Balance | $ | 70,905 | $ | 90,418 | $ | 49,959 | |||||||||||||||
Past due loans of 90 days or more | $ | — | $ | — | $ | — | |||||||||||||||
Nonaccrual loans | $ | — | $ | — | $ | — | |||||||||||||||
The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Securities available for sale and derivatives are recorded at fair value on a recurring basis. From time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans and OREO. Additionally, the Company is required to disclose, but not record, the fair value of other financial instruments. | |||||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: | |||||||||||||||||||||
Level 1 - Quoted prices in active markets for identical assets or liabilities. | |||||||||||||||||||||
Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||||||||
Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||||||||||
The following methods and assumptions were used by the Company in estimating the fair value of its financial instruments: | |||||||||||||||||||||
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: FHLB stock is included in other investments at its original cost basis. It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. | |||||||||||||||||||||
Mortgage Loans Held for Sale: The Company records mortgage loans held for sale at fair value. 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 contractual cash flows or underlying collateral values, where applicable. A loan is determined to be impaired if the Company believes it is probable that all principal and interest amounts due according to the terms of the note will not be collected as scheduled. The fair value of impaired loans is determined in accordance with ASC 310-10, Accounting by Creditors for Impairment of a Loan, 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. | |||||||||||||||||||||
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 Other Real Estate Owned: Covered other real estate owned includes other real estate owned on which the majority of losses would be covered by loss-sharing agreements with the FDIC. Management initially valued these assets at fair value using mostly unobservable inputs and, as such, has classified these assets as Level 3. | |||||||||||||||||||||
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. | |||||||||||||||||||||
Accrued Interest Receivable/Payable: The carrying amount of accrued interest receivable and accrued interest payable approximates fair value. | |||||||||||||||||||||
Deposits: The carrying amount of demand deposits, savings deposits and variable-rate certificates of deposit approximates fair value. The fair value of fixed-rate certificates of deposit is estimated based on discounted contractual cash flows using interest rates currently 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 and are classified as Level 1. The fair value of fixed rate other borrowings is estimated based on discounted contractual cash flows using the current incremental borrowing rates for similar borrowing arrangements and are classified as Level 2. | |||||||||||||||||||||
Subordinated Deferrable Interest Debentures: The fair value of the Company’s variable rate trust preferred securities is based primarily upon discounted cash flows using rates for securities with similar terms and remaining maturities and are classified as Level 2. | |||||||||||||||||||||
Off-Balance-Sheet Instruments: Because commitments to extend credit and standby letters of credit are typically made using variable rates and have short maturities, the carrying value and fair value are immaterial for disclosure. | |||||||||||||||||||||
Derivatives: The Company has entered into derivative financial instruments to manage interest rate risk. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivatives. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair value of the derivatives is determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments are based on an expectation of future interest rates (forward curves derived from observable market interest rate curves). | |||||||||||||||||||||
The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting any applicable credit enhancements such as collateral postings, thresholds, mutual puts and guarantees. | |||||||||||||||||||||
Although the Company has determined that the majority of the inputs used to value its derivatives 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 March 31, 2015, December 31, 2014 and March 31, 2014, 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 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 March 31, 2015, December 31, 2014 and March 31, 2014 (dollars in thousands): | |||||||||||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||
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 | $ | 14,984 | $ | — | $ | 14,984 | $ | — | |||||||||||||
State, county and municipal securities | 159,064 | — | 159,064 | — | |||||||||||||||||
Corporate debt securities | 10,935 | — | 8,435 | 2,500 | |||||||||||||||||
Mortgage-backed securities | 425,347 | — | 425,347 | — | |||||||||||||||||
Mortgage loans held for sale | 73,796 | — | 73,796 | — | |||||||||||||||||
Mortgage banking derivative instruments | 4,006 | — | 4,006 | — | |||||||||||||||||
Total recurring assets at fair value | $ | 688,132 | $ | — | $ | 685,632 | $ | 2,500 | |||||||||||||
Derivative financial instruments | $ | 1,805 | $ | — | $ | 1,805 | $ | — | |||||||||||||
Mortgage banking derivative instruments | 548 | — | 548 | — | |||||||||||||||||
Total recurring liabilities at fair value | $ | 2,353 | $ | — | $ | 2,353 | $ | — | |||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||
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 | $ | 14,678 | $ | — | $ | 14,678 | $ | — | |||||||||||||
State, county and municipal securities | 141,375 | — | 141,375 | — | |||||||||||||||||
Corporate debt securities | 11,040 | — | 8,540 | 2,500 | |||||||||||||||||
Mortgage-backed securities | 374,712 | 8,248 | 366,464 | — | |||||||||||||||||
Mortgage loans held for sale | 94,759 | — | 94,759 | — | |||||||||||||||||
Mortgage banking derivative instruments | 1,757 | — | 1,757 | — | |||||||||||||||||
Total recurring assets at fair value | $ | 638,321 | $ | 8,248 | $ | 627,573 | $ | 2,500 | |||||||||||||
Derivative financial instruments | $ | 1,315 | $ | — | $ | 1,315 | $ | — | |||||||||||||
Mortgage banking derivative instruments | 249 | — | 249 | — | |||||||||||||||||
Total recurring liabilities at fair value | $ | 1,564 | $ | — | $ | 1,564 | $ | — | |||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||
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 | $ | 14,145 | $ | — | $ | 14,145 | $ | — | |||||||||||||
State, county and municipal securities | 111,574 | — | 111,574 | — | |||||||||||||||||
Corporate debt securities | 10,383 | — | 8,383 | 2,000 | |||||||||||||||||
Mortgage-backed securities | 320,611 | — | 320,611 | — | |||||||||||||||||
Mortgage loans held for sale | 51,693 | — | 51,693 | — | |||||||||||||||||
Mortgage banking derivative instruments | 2,528 | — | 2,528 | — | |||||||||||||||||
Total recurring assets at fair value | $ | 510,934 | $ | — | $ | 508,934 | $ | 2,000 | |||||||||||||
Derivative financial instruments | $ | 675 | $ | — | $ | 675 | $ | — | |||||||||||||
Total recurring liabilities at fair value | $ | 675 | $ | — | $ | 675 | $ | — | |||||||||||||
The following table presents the fair value measurements of assets measured at fair value on a non-recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy as of March 31, 2015, December 31, 2014 and March 31, 2014 (dollars in thousands): | |||||||||||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||
Fair | Quoted | Significant | Significant | ||||||||||||||||||
Value | Prices | Other | Unobservable | ||||||||||||||||||
in Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Impaired loans carried at fair value | $ | 28,867 | $ | — | $ | — | $ | 28,867 | |||||||||||||
Purchased, non-covered other real estate owned | 13,818 | — | — | 13,818 | |||||||||||||||||
Covered other real estate owned | 16,089 | — | — | 16,089 | |||||||||||||||||
Total nonrecurring assets at fair value | $ | 58,774 | $ | — | $ | — | $ | 58,774 | |||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||
Fair | Quoted | Significant | Significant | ||||||||||||||||||
Value | Prices | Other | Unobservable | ||||||||||||||||||
in Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Impaired loans carried at fair value | $ | 30,479 | $ | — | $ | — | $ | 30,479 | |||||||||||||
Purchased, non-covered other real estate owned | 15,585 | — | — | 15,585 | |||||||||||||||||
Covered other real estate owned | 19,907 | — | — | 19,907 | |||||||||||||||||
Total nonrecurring assets at fair value | $ | 65,971 | $ | — | $ | — | $ | 65,971 | |||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||
Fair | Quoted | Significant | Significant | ||||||||||||||||||
Value | Prices | Other | Unobservable | ||||||||||||||||||
in Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Impaired loans carried at fair value | $ | 41,253 | $ | — | $ | — | $ | 41,253 | |||||||||||||
Purchased, non-covered other real estate owned | 3,864 | — | — | 3,864 | |||||||||||||||||
Covered other real estate owned | 42,636 | — | — | 42,636 | |||||||||||||||||
Total nonrecurring assets at fair value | $ | 87,753 | $ | — | $ | — | $ | 87,753 | |||||||||||||
The inputs used to determine estimated fair value of impaired loans and covered loans include market conditions, loan terms, 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 three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014, 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: | |||||||||||||||||||||
Fair Value | Valuation Technique | Unobservable Inputs | Range of | Weighted | |||||||||||||||||
Discounts | Average | ||||||||||||||||||||
Discount | |||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||
Nonrecurring: | |||||||||||||||||||||
Impaired loans | $ | 28,867 | Third party appraisals | Collateral discounts and | 0% - 70% | 24 | % | ||||||||||||||
and discounted cash flows | discount rates | ||||||||||||||||||||
Purchased non-covered real estate owned | $ | 13,818 | Third party appraisals | Collateral discounts and | 10% - 96% | 16 | % | ||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Covered real estate owned | $ | 16,089 | Third party appraisals | Collateral discounts and | 10% - 70% | 9 | % | ||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Recurring: | |||||||||||||||||||||
Investment securities available for sale | $ | 2,500 | Discounted par values | Credit quality of | 0% | 0 | % | ||||||||||||||
underlying issuer | |||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||
Nonrecurring: | |||||||||||||||||||||
Impaired loans | $ | 30,479 | Third party appraisals and | Collateral discounts and | 0% - 50% | 20 | % | ||||||||||||||
discounted cash flows | discount rates | ||||||||||||||||||||
Purchased non-covered real estate owned | $ | 15,585 | Third party appraisals | Collateral discounts and | 10% - 96% | 20 | % | ||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Covered real estate owned | $ | 19,907 | Third party appraisals | Collateral discounts and | 10% - 90% | 11 | % | ||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Recurring: | |||||||||||||||||||||
Investment securities available for sale | $ | 2,500 | Discounted par values | Credit quality of | 0% | 0 | % | ||||||||||||||
underlying issuer | |||||||||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||
Nonrecurring: | |||||||||||||||||||||
Impaired loans | $ | 41,253 | Third party appraisals and | Collateral discounts and | 0% - 75% | 26 | % | ||||||||||||||
discounted cash flows | discount rates | ||||||||||||||||||||
Purchased non-covered real estate owned | $ | 3,864 | Third party appraisals | Collateral discounts and | 15% - 57% | 17 | % | ||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Covered real estate owned | $ | 42,636 | Third party appraisals | Collateral discounts and | 10% - 92% | 12 | % | ||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Recurring: | |||||||||||||||||||||
Investment securities available for sale | $ | 2,000 | Discounted par values | Credit quality of | 0% | 0 | % | ||||||||||||||
underlying issuer | |||||||||||||||||||||
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 March 31, 2015 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and due from banks | $ | 80,142 | $ | 80,142 | $ | — | $ | — | $ | 80,142 | |||||||||||
Federal funds sold and interest-bearing accounts | 126,157 | 126,157 | — | — | 126,157 | ||||||||||||||||
Loans, net | 2,837,538 | — | — | 2,885,524 | 2,885,524 | ||||||||||||||||
FDIC loss-share receivable | 23,312 | — | — | 9,990 | 9,990 | ||||||||||||||||
Accrued interest receivable | 15,332 | 15,332 | — | — | 15,332 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 3,480,231 | $ | — | $ | 3,481,470 | $ | — | $ | 3,481,470 | |||||||||||
Securities sold under agreements to repurchase | 55,520 | 55,520 | — | — | 55,520 | ||||||||||||||||
Other borrowings | 43,851 | — | 43,851 | — | 43,851 | ||||||||||||||||
Accrued interest payable | 1,177 | 1,177 | — | — | 1,177 | ||||||||||||||||
Subordinated deferrable interest debentures | 65,567 | — | 47,055 | — | 47,055 | ||||||||||||||||
Fair Value Measurements at December 31, 2014 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and due from banks | $ | 78,026 | $ | 78,026 | $ | — | $ | — | $ | 78,026 | |||||||||||
Federal funds sold and interest-bearing accounts | 92,323 | 92,323 | — | — | 92,323 | ||||||||||||||||
Loans, net | 2,783,763 | — | — | 2,785,627 | 2,785,627 | ||||||||||||||||
FDIC loss-share receivable | 31,351 | — | — | 18,764 | 18,764 | ||||||||||||||||
Accrued interest receivable | 17,023 | 17,023 | — | — | 17,023 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 3,431,149 | $ | — | $ | 3,432,059 | $ | — | $ | 3,432,059 | |||||||||||
Securities sold under agreements to repurchase | 73,310 | 73,310 | — | — | 73,310 | ||||||||||||||||
Other borrowings | 78,881 | — | 78,881 | — | 78,881 | ||||||||||||||||
Accrued interest payable | 1,382 | 1,382 | — | — | 1,382 | ||||||||||||||||
Subordinated deferrable interest debentures | 65,325 | — | 46,564 | — | 46,564 | ||||||||||||||||
Fair Value Measurements at March 31, 2014 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and due from banks | $ | 71,387 | $ | 71,387 | $ | — | $ | — | $ | 71,387 | |||||||||||
Federal funds sold and interest-bearing accounts | 48,677 | 48,677 | — | — | 48,677 | ||||||||||||||||
Loans, net | 2,441,348 | — | — | 2,461,372 | 2,461,372 | ||||||||||||||||
FDIC loss-share receivable | 53,181 | — | — | 39,930 | 39,930 | ||||||||||||||||
Accrued interest receivable | 13,849 | 13,849 | — | — | 13,849 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 3,010,647 | $ | — | $ | 3,011,383 | $ | — | $ | 3,011,383 | |||||||||||
Securities sold under agreements to repurchase | 49,974 | 49,974 | — | — | 49,974 | ||||||||||||||||
Other borrowings | 59,677 | — | 59,677 | — | 59,677 | ||||||||||||||||
Accrued interest payable | 1,357 | 1,357 | — | — | 1,357 | ||||||||||||||||
Subordinated deferrable interest debentures | 55,628 | — | 36,504 | — | 36,504 |
Segment_Reporting
Segment Reporting | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Segment Reporting | NOTE 13 – SEGMENT REPORTING | ||||||||||||||||
The following tables present selected financial information with respect to the Company’s reportable business segments for the three months ended March 31, 2015 and 2014: | |||||||||||||||||
Three Months Ended | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Retail Banking | Mortgage Banking | SBA | Total | ||||||||||||||
Division | Division | Division | |||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Net interest income | $ | 35,839 | $ | 2,380 | $ | 613 | $ | 38,832 | |||||||||
Provision for loan losses | 927 | 142 | — | 1,069 | |||||||||||||
Noninterest income | 8,780 | 7,883 | 912 | 17,575 | |||||||||||||
Noninterest expense: | |||||||||||||||||
Salaries and employee benefits | 15,362 | 4,654 | 616 | 20,632 | |||||||||||||
Equipment and occupancy expenses | 4,144 | 382 | 28 | 4,554 | |||||||||||||
Data processing and telecommunications expenses | 4,011 | 245 | 4 | 4,260 | |||||||||||||
Other expenses | 10,356 | 968 | 57 | 11,381 | |||||||||||||
Total noninterest expense | 33,873 | 6,249 | 705 | 40,827 | |||||||||||||
Income before income tax expense | 9,819 | 3,872 | 820 | 14,511 | |||||||||||||
Income tax expense | 3,105 | 1,355 | 287 | 4,747 | |||||||||||||
Net income | 6,714 | 2,517 | 533 | 9,764 | |||||||||||||
Less preferred stock dividends | — | — | — | — | |||||||||||||
Net income available to common shareholders | $ | 6,714 | $ | 2,517 | $ | 533 | $ | 9,764 | |||||||||
Total assets | $ | 3,839,417 | $ | 244,477 | $ | 69,010 | $ | 4,152,904 | |||||||||
Intangible assets | $ | 71,138 | $ | — | $ | — | $ | 71,138 | |||||||||
Three Months Ended | |||||||||||||||||
31-Mar-14 | |||||||||||||||||
Retail Banking | Mortgage Banking | SBA | Total | ||||||||||||||
Division | Division | Division | |||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Net interest income | $ | 32,928 | $ | 1,100 | $ | 456 | $ | 34,484 | |||||||||
Provision for loan losses | 1,726 | — | — | 1,726 | |||||||||||||
Noninterest income | 7,361 | 5,164 | 229 | 12,754 | |||||||||||||
Noninterest expense: | |||||||||||||||||
Salaries and employee benefits | 13,577 | 3,568 | 249 | 17,394 | |||||||||||||
Equipment and occupancy expenses | 3,749 | 302 | 13 | 4,064 | |||||||||||||
Data processing and telecommunications expenses | 3,326 | 122 | 6 | 3,454 | |||||||||||||
Other expenses | 7,380 | 815 | 132 | 8,327 | |||||||||||||
Total noninterest expense | 28,032 | 4,807 | 400 | 33,239 | |||||||||||||
Income before income tax expense | 10,531 | 1,457 | 285 | 12,273 | |||||||||||||
Income tax expense | 3,313 | 510 | 100 | 3,923 | |||||||||||||
Net income | 7,218 | 947 | 185 | 8,350 | |||||||||||||
Less preferred stock dividends | 286 | — | — | 286 | |||||||||||||
Net income available to common shareholders | $ | 6,932 | $ | 947 | $ | 185 | $ | 8,064 | |||||||||
Total assets | $ | 3,315,731 | $ | 128,072 | $ | 44,181 | $ | 3,487,984 | |||||||||
Intangible assets | $ | 40,526 | $ | — | $ | — | $ | 40,526 |
Basis_of_Presentation_and_Acco1
Basis of Presentation and Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Newly Adopted Accounting Pronouncements | Newly Adopted Accounting Pronouncements |
ASU 2015-03 – Interest – Imputation of Interest (“ASU 2015-03”). ASU 2015-03 simplifies presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts. ASU 2015-03 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, and early adoption is permitted. It should be applied on a retrospective basis. The Company is currently evaluating the impact this standard will have on the Company’s results of operations, financial position or disclosures. | |
ASU 2015-02 “Consolidation (Topic 810) - Amendments to the Consolidation Analysis.” ASU 2015-02 includes amendments that are intended to improve targeted areas of consolidation for legal entities including reducing the number of consolidation models from four to two and simplifying the FASB Accounting Standards Codification. ASU 2015-02 is effective for annual and interim periods within those annual periods, beginning after December 15, 2015. The amendments may be applied retrospectively in previously issued financial statements for one or more years with a cumulative effect adjustment to retained earnings as of the beginning of the first year restated. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact this standard will have on the Company’s results of operations, financial position or disclosures. | |
ASU 2015-01- Income Statement – Extraordinary and Unusual Items (“ASU 2015-01”). ASU 2015-01 eliminates the concept of extraordinary items by no longer allowing companies to segregate an extraordinary item from the results of operations, separately present an extraordinary item on the income statement, or disclose income taxes or earnings-per-share data applicable to an extraordinary item. ASU 2015-01 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, and early adoption is permitted. The adoption of this standard is not expected to have a material effect on the Company’s results of operations, financial position or disclosures. | |
ASU 2014-09 – Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 provides guidance that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective prospectively, for annual and interim periods, beginning after December 15, 2016. The Company is currently evaluating the impact this standard will have on the Company’s results of operations, financial position or disclosures. |
Business_Combinations_Tables
Business Combinations (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Rollforward of Acquired Non-Covered Loans | A rollforward of purchased non-covered loans for the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014 is shown below: | ||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||
Balance, January 1 | $ | 674,239 | $ | 448,753 | $ | 448,753 | |||||||||||
Charge-offs, net of recoveries | (244 | ) | (84 | ) | — | ||||||||||||
Additions due to acquisitions | — | 279,441 | — | ||||||||||||||
Accretion | 3,111 | 9,745 | 1,023 | ||||||||||||||
Transfers to purchased non-covered other real estate owned | (1,094 | ) | (4,160 | ) | (68 | ) | |||||||||||
Transfer from covered loans due to loss-share expiration | — | 15,475 | — | ||||||||||||||
Payments received | (32,920 | ) | (74,931 | ) | (12,439 | ) | |||||||||||
Ending balance | $ | 643,092 | $ | 674,239 | $ | 437,269 | |||||||||||
Schedule of Changes in Accretable Discounts Related Acquired Loans | The following is a summary of changes in the accretable discounts of acquired loans during the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014: | ||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||
Balance, January 1 | $ | 15,578 | $ | 25,493 | $ | 25,493 | |||||||||||
Accretion | (4,466 | ) | (22,188 | ) | (9,767 | ) | |||||||||||
Transfers between non-accretable and accretable discounts, net | 1,853 | 12,273 | 365 | ||||||||||||||
Ending balance | $ | 12,965 | $ | 15,578 | $ | 16,091 | |||||||||||
Coastal Bankshares, Inc. [Member] | |||||||||||||||||
Estimated Fair Value of Assets Acquired and Liabilities Assumed | The following table presents the assets acquired and liabilities of Coastal assumed as of June 30, 2014 and their fair value estimates: | ||||||||||||||||
(Dollars in Thousands) | As Recorded by | Initial Fair | Subsequent | As Recorded | |||||||||||||
Coastal | Value | Fair Value | by Ameris | ||||||||||||||
Adjustments | Adjustments | ||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents | $ | 3,895 | $ | — | $ | — | $ | 3,895 | |||||||||
Federal funds sold and interest-bearing balances | 15,923 | — | — | 15,923 | |||||||||||||
Investment securities | 67,266 | (500 | )(a) | — | 66,766 | ||||||||||||
Other investments | 975 | — | — | 975 | |||||||||||||
Mortgage loans held for sale | 7,288 | — | — | 7,288 | |||||||||||||
Loans | 296,141 | (16,700 | )(b) | — | 279,441 | ||||||||||||
Less allowance for loan losses | (3,218 | ) | 3,218 | (c) | — | — | |||||||||||
Loans, net | 292,923 | (13,482 | ) | — | 279,441 | ||||||||||||
Other real estate owned | 14,992 | (3,528 | )(d) | (2,600 | )(g) | 8,864 | |||||||||||
Premises and equipment | 11,882 | — | — | 11,882 | |||||||||||||
Intangible assets | 507 | 4,266 | (e) | (231 | )(h) | 4,542 | |||||||||||
Cash value of bank owned life insurance | 7,812 | — | — | 7,812 | |||||||||||||
Other assets | 14,898 | — | (752 | )(i) | 14,146 | ||||||||||||
Total assets | $ | 438,361 | $ | (13,244 | ) | $ | (3,583 | ) | $ | 421,534 | |||||||
Liabilities | |||||||||||||||||
Deposits: | |||||||||||||||||
Noninterest-bearing | $ | 80,012 | $ | — | $ | — | $ | 80,012 | |||||||||
Interest-bearing | 289,012 | — | — | 289,012 | |||||||||||||
Total deposits | 369,024 | — | — | 369,024 | |||||||||||||
Federal funds purchased and securities sold under agreements to repurchase | 5,428 | — | — | 5,428 | |||||||||||||
Other borrowings | 22,005 | — | — | 22,005 | |||||||||||||
Other liabilities | 6,192 | — | — | 6,192 | |||||||||||||
Subordinated deferrable interest debentures | 15,465 | (6,413 | )(f) | — | 9,052 | ||||||||||||
Total liabilities | 418,114 | (6,413 | ) | — | 411,701 | ||||||||||||
Net identifiable assets acquired over (under) liabilities assumed | 20,247 | (6,831 | ) | (3,583 | ) | 9,833 | |||||||||||
Goodwill | — | 23,854 | 3,583 | 27,437 | |||||||||||||
Net assets acquired over (under) liabilities assumed | $ | 20,247 | $ | 17,023 | $ | — | $ | 37,270 | |||||||||
Consideration: | |||||||||||||||||
Ameris Bancorp common shares issued | 1,598,998 | ||||||||||||||||
Purchase price per share of the Company’s common stock | $ | 21.56 | |||||||||||||||
Company common stock issued | 34,474 | ||||||||||||||||
Cash exchanged for shares | 2,796 | ||||||||||||||||
Fair value of total consideration transferred | $ | 37,270 | |||||||||||||||
Explanation of fair value adjustments | |||||||||||||||||
(a) | Adjustment reflects the fair value adjustments of the available for sale portfolio as of the acquisition date. | ||||||||||||||||
(b) | Adjustment reflects the fair value adjustments based on the Company’s evaluation of the acquired loan portfolio. | ||||||||||||||||
(c) | Adjustment reflects the elimination of Coastal’s allowance for loan losses. | ||||||||||||||||
(d) | Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired OREO portfolio. | ||||||||||||||||
(e) | Adjustment reflects the recording of core deposit intangible on the acquired core deposit accounts. | ||||||||||||||||
(f) | Adjustment reflects the fair value adjustment to the subordinated deferrable interest debentures at the acquisition date. | ||||||||||||||||
(g) | Adjustment reflects the additional fair value adjustment based on the Company’s evaluation of the acquired OREO portfolio. | ||||||||||||||||
(h) | Adjustment reflects final recording of core deposit intangible on the acquired core deposit accounts. | ||||||||||||||||
(i) | Adjustment reflects the deferred taxes on the difference in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes. | ||||||||||||||||
Pro Forma Information of Acquisitions | The following unaudited pro forma information reflects the Company’s estimated consolidated results of operations as if the acquisition had occurred on January 1, 2014, unadjusted for potential cost savings (in thousands). | ||||||||||||||||
Three Months | |||||||||||||||||
Ended March 31, | |||||||||||||||||
2014 | |||||||||||||||||
Net interest income and noninterest income | $ | 52,590 | |||||||||||||||
Net income | $ | 9,052 | |||||||||||||||
Net income available to common stockholders | $ | 8,766 | |||||||||||||||
Income per common share available to common stockholders – basic | $ | 0.33 | |||||||||||||||
Income per common share available to common stockholders – diluted | $ | 0.32 | |||||||||||||||
Average number of shares outstanding, basic | 26,743 | ||||||||||||||||
Average number of shares outstanding, diluted | 27,172 | ||||||||||||||||
Summary of Contractually Required Principal and Interest Cash Payment of the Loans As of Acquisition Date for Purchased Credit Impaired Loans | The table below summarizes the total contractually required principal and interest cash payment, management’s estimate of expected total cash payments and fair value of the loans as of acquisition date for purchased credit impaired loans. Contractually required principal and interest payment have been adjusted for estimated prepayments. | ||||||||||||||||
Contractually required principal and interest | $ | 38,194 | |||||||||||||||
Non-accretable difference | (5,632 | ) | |||||||||||||||
Cash flows expected to be collected | 32,562 | ||||||||||||||||
Accretable yield | (3,282 | ) | |||||||||||||||
Total purchased credit-impaired loans acquired | $ | 29,280 | |||||||||||||||
Discount Accretion [Member] | |||||||||||||||||
Schedule of Changes in Accretable Discounts Related Acquired Loans | The following is a summary of changes in the accretable discounts of purchased non-covered loans during the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014: | ||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||
Balance, January 1 | $ | 25,716 | $ | 26,189 | $ | 26,189 | |||||||||||
Additions due to acquisitions | — | 7,799 | — | ||||||||||||||
Accretion | (3,111 | ) | (9,745 | ) | (1,023 | ) | |||||||||||
Transfers between non-accretable and accretable discounts, net | (2,376 | ) | 1,473 | 2,680 | |||||||||||||
Ending balance | $ | 20,229 | $ | 25,716 | $ | 27,846 | |||||||||||
Investment_Securities_Tables
Investment Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
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 March 31, 2015, December 31, 2014 and March 31, 2014 are presented below: | ||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||
U.S. government agencies | $ | 14,954 | $ | 72 | $ | (42 | ) | $ | 14,984 | ||||||||||||||||
State, county and municipal securities | 154,499 | 4,800 | (235 | ) | 159,064 | ||||||||||||||||||||
Corporate debt securities | 10,794 | 193 | (52 | ) | 10,935 | ||||||||||||||||||||
Mortgage-backed securities | 420,497 | 6,185 | (1,335 | ) | 425,347 | ||||||||||||||||||||
Total debt securities | $ | 600,744 | $ | 11,250 | $ | (1,664 | ) | $ | 610,330 | ||||||||||||||||
December 31, 2014: | |||||||||||||||||||||||||
U.S. government agencies | $ | 14,953 | $ | — | $ | (275 | ) | $ | 14,678 | ||||||||||||||||
State, county and municipal securities | 137,873 | 3,935 | (433 | ) | 141,375 | ||||||||||||||||||||
Corporate debt securities | 10,812 | 228 | — | 11,040 | |||||||||||||||||||||
Mortgage-backed securities | 369,581 | 6,534 | (1,403 | ) | 374,712 | ||||||||||||||||||||
Total debt securities | $ | 533,219 | $ | 10,697 | $ | (2,111 | ) | $ | 541,805 | ||||||||||||||||
March 31, 2014: | |||||||||||||||||||||||||
U.S. government agencies | $ | 14,948 | $ | — | $ | (803 | ) | $ | 14,145 | ||||||||||||||||
State, county and municipal securities | 110,331 | 2,724 | (1,481 | ) | 111,574 | ||||||||||||||||||||
Corporate debt securities | 10,307 | 285 | (209 | ) | 10,383 | ||||||||||||||||||||
Mortgage-backed securities | 319,216 | 4,244 | (2,849 | ) | 320,611 | ||||||||||||||||||||
Total debt securities | $ | 454,802 | $ | 7,253 | $ | (5,342 | ) | $ | 456,713 | ||||||||||||||||
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 March 31, 2015 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 shown separately in the following maturity summary. | ||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Due in one year or less | $ | 8,588 | $ | 8,667 | |||||||||||||||||||||
Due from one year to five years | 42,345 | 43,706 | |||||||||||||||||||||||
Due from five to ten years | 60,795 | 62,690 | |||||||||||||||||||||||
Due after ten years | 68,519 | 69,920 | |||||||||||||||||||||||
Mortgage-backed securities | 420,497 | 425,347 | |||||||||||||||||||||||
$ | 600,744 | $ | 610,330 | ||||||||||||||||||||||
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 the continuous unrealized loss position at March 31, 2015, December 31, 2014 and March 31, 2014. | ||||||||||||||||||||||||
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) | |||||||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||
U.S. government agencies | $ | — | $ | — | $ | 4,958 | $ | (42 | ) | $ | 4,958 | $ | (42 | ) | |||||||||||
State, county and municipal securities | 4,675 | (34 | ) | 10,579 | (201 | ) | 15,254 | (235 | ) | ||||||||||||||||
Corporate debt securities | 5,007 | (52 | ) | — | — | 5,007 | (52 | ) | |||||||||||||||||
Mortgage-backed securities | 46,361 | (378 | ) | 31,483 | (957 | ) | 77,844 | (1,335 | ) | ||||||||||||||||
Total debt securities | $ | 56,043 | $ | (464 | ) | $ | 47,020 | $ | (1,200 | ) | $ | 103,063 | $ | (1,664 | ) | ||||||||||
December 31, 2014: | |||||||||||||||||||||||||
U.S. government agencies | $ | — | $ | — | $ | 14,678 | $ | (275 | ) | $ | 14,678 | $ | (275 | ) | |||||||||||
State, county and municipal securities | 15,038 | (70 | ) | 19,665 | (363 | ) | 34,703 | (433 | ) | ||||||||||||||||
Corporate debt securities | — | — | — | — | — | — | |||||||||||||||||||
Mortgage-backed securities | 36,760 | (221 | ) | 46,812 | (1,182 | ) | 83,572 | (1,403 | ) | ||||||||||||||||
Total debt securities | $ | 51,798 | $ | (291 | ) | $ | 81,155 | $ | (1,820 | ) | $ | 132,953 | $ | (2,111 | ) | ||||||||||
March 31, 2014: | |||||||||||||||||||||||||
U.S. government agencies | $ | 9,353 | $ | (595 | ) | $ | 4,792 | $ | (208 | ) | $ | 14,145 | $ | (803 | ) | ||||||||||
State, county and municipal securities | 38,937 | (1,238 | ) | 3,612 | (243 | ) | 42,549 | (1,481 | ) | ||||||||||||||||
Corporate debt securities | — | — | 4,871 | (209 | ) | 4,871 | (209 | ) | |||||||||||||||||
Mortgage-backed securities | 55,103 | (1,219 | ) | 31,184 | (1,630 | ) | 86,287 | (2,849 | ) | ||||||||||||||||
Total debt securities | $ | 103,393 | $ | (3,052 | ) | $ | 44,459 | $ | (2,290 | ) | $ | 147,852 | $ | (5,342 | ) | ||||||||||
Summary of Sales Activities in the Company's Investment Securities Available for Sale | The following table is a summary of sales activities in the Company’s investment securities available for sale for the three months ended March 31, 2015, year ended December 31, 2014 and three months ended March 31, 2014: | ||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | March 31, 2014 | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Gross gains on sales of securities | $ | 31 | $ | 141 | $ | 8 | |||||||||||||||||||
Gross losses on sales of securities | (19 | ) | (3 | ) | (2 | ) | |||||||||||||||||||
Net realized gains on sales of securities available for sale | $ | 12 | $ | 138 | $ | 6 | |||||||||||||||||||
Sales proceeds | $ | 5,118 | $ | 94,051 | $ | 68,899 | |||||||||||||||||||
Loans_Tables
Loans (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||
Schedule of Accounts Notes Loans and Financial Receivables | Balances within the major loan categories are presented in the following table: | ||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 334,917 | $ | 319,654 | $ | 270,571 | |||||||||||||||||||||||||||
Real estate – construction and development | 178,568 | 161,507 | 149,543 | ||||||||||||||||||||||||||||||
Real estate – commercial and farmland | 947,274 | 907,524 | 836,230 | ||||||||||||||||||||||||||||||
Real estate – residential | 496,043 | 456,106 | 393,001 | ||||||||||||||||||||||||||||||
Consumer installment | 29,113 | 30,782 | 32,345 | ||||||||||||||||||||||||||||||
Other | 13,505 | 14,308 | 13,692 | ||||||||||||||||||||||||||||||
$ | 1,999,420 | $ | 1,889,881 | $ | 1,695,382 | ||||||||||||||||||||||||||||
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) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 20,905 | $ | 21,467 | $ | 24,813 | |||||||||||||||||||||||||||
Real estate – construction and development | 19,519 | 23,447 | 41,434 | ||||||||||||||||||||||||||||||
Real estate – commercial and farmland | 130,290 | 147,627 | 214,649 | ||||||||||||||||||||||||||||||
Real estate – residential | 74,847 | 78,520 | 91,372 | ||||||||||||||||||||||||||||||
Consumer installment | 184 | 218 | 426 | ||||||||||||||||||||||||||||||
$ | 245,745 | $ | 271,279 | $ | 372,694 | ||||||||||||||||||||||||||||
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 three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2015. 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 | Purchased | Covered | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | non-covered | loans | |||||||||||||||||||||||||||
agricultural | development | farmland | loans and | loans | |||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Three months ended March 31, 2015: | |||||||||||||||||||||||||||||||||
Balance, January 1, 2015 | $ | 2,004 | $ | 5,030 | $ | 8,823 | $ | 4,129 | $ | 1,171 | $ | — | $ | — | $ | 21,157 | |||||||||||||||||
Provision for loan losses | (498 | ) | 347 | (56 | ) | 1,090 | 217 | (432 | ) | 401 | 1,069 | ||||||||||||||||||||||
Loans charged off | (392 | ) | (97 | ) | (12 | ) | (268 | ) | (86 | ) | (230 | ) | (563 | ) | (1,648 | ) | |||||||||||||||||
Recoveries of loans previously charged off | 285 | 31 | 15 | 57 | 62 | 662 | 162 | 1,274 | |||||||||||||||||||||||||
Balance, March 31, 2015 | $ | 1,399 | $ | 5,311 | $ | 8,770 | $ | 5,008 | $ | 1,364 | $ | — | $ | — | $ | 21,852 | |||||||||||||||||
Period-end amount allocated to: | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 230 | $ | 627 | $ | 2,123 | $ | 1,837 | $ | — | $ | — | $ | — | $ | 4,817 | |||||||||||||||||
Loans collectively evaluated for impairment | 1,169 | 4,684 | 6,647 | 3,171 | 1,364 | — | — | 17,035 | |||||||||||||||||||||||||
Ending balance | $ | 1,399 | $ | 5,311 | $ | 8,770 | $ | 5,008 | $ | 1,364 | $ | — | $ | — | $ | 21,852 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 324 | $ | 2,982 | $ | 14,557 | $ | 11,124 | $ | — | $ | — | $ | — | $ | 28,987 | |||||||||||||||||
Collectively evaluated for impairment | 334,593 | 175,586 | 932,717 | 484,919 | 42,618 | 552,837 | 108,113 | 2,631,383 | |||||||||||||||||||||||||
Acquired with deteriorated credit quality | — | — | — | — | — | 90,255 | 137,632 | 227,887 | |||||||||||||||||||||||||
Ending balance | $ | 334,917 | $ | 178,568 | $ | 947,274 | $ | 496,043 | $ | 42,618 | $ | 643,092 | $ | 245,745 | $ | 2,888,257 | |||||||||||||||||
Commercial, | Real estate – | Real estate – | Real estate - | Consumer | Purchased | Covered | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | non-covered | loans | |||||||||||||||||||||||||||
agricultural | development | farmland | loans and | loans | |||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Twelve months ended December 31, 2014: | |||||||||||||||||||||||||||||||||
Balance, January 1, 2014 | $ | 1,823 | $ | 5,538 | $ | 8,393 | $ | 6,034 | $ | 589 | $ | — | $ | — | $ | 22,377 | |||||||||||||||||
Provision for loan losses | 1,427 | (265 | ) | 3,444 | (452 | ) | 567 | 84 | 843 | 5,648 | |||||||||||||||||||||||
Loans charged off | (1,567 | ) | (592 | ) | (3,288 | ) | (1,707 | ) | (471 | ) | (84 | ) | (1,851 | ) | (9,560 | ) | |||||||||||||||||
Recoveries of loans previously charged off | 321 | 349 | 274 | 254 | 486 | — | 1,008 | 2,692 | |||||||||||||||||||||||||
Balance, December 31, 2014 | $ | 2,004 | $ | 5,030 | $ | 8,823 | $ | 4,129 | $ | 1,171 | $ | — | $ | — | $ | 21,157 | |||||||||||||||||
Period-end amount allocated to: | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 375 | $ | 743 | $ | 1,861 | $ | 911 | $ | — | $ | — | $ | — | $ | 3,890 | |||||||||||||||||
Loans collectively evaluated for impairment | 1,629 | 4,287 | 6,962 | 3,218 | 1,171 | — | — | 17,267 | |||||||||||||||||||||||||
Ending balance | $ | 2,004 | $ | 5,030 | $ | 8,823 | $ | 4,129 | $ | 1,171 | $ | — | $ | — | $ | 21,157 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 490 | $ | 3,709 | $ | 14,546 | $ | 8,904 | $ | — | $ | — | $ | — | $ | 27,649 | |||||||||||||||||
Collectively evaluated for impairment | 319,164 | 157,798 | 892,978 | 447,202 | 45,090 | 579,172 | 122,248 | 2,563,652 | |||||||||||||||||||||||||
Acquired with deteriorated credit quality | — | — | — | — | — | 95,067 | 149,031 | 244,098 | |||||||||||||||||||||||||
Ending balance | $ | 319,654 | $ | 161,507 | $ | 907,524 | $ | 456,106 | $ | 45,090 | $ | 674,239 | $ | 271,279 | $ | 2,835,399 | |||||||||||||||||
Commercial, | Real estate – | Real estate – | Real estate - | Consumer | Purchased | Covered | Total | ||||||||||||||||||||||||||
financial & | construction & | commercial & | residential | installment | non-covered | loans | |||||||||||||||||||||||||||
agricultural | development | farmland | loans and | loans | |||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Three months ended March 31, 2014: | |||||||||||||||||||||||||||||||||
Balance, January 1, 2014 | $ | 1,823 | $ | 5,538 | $ | 8,393 | $ | 6,034 | $ | 589 | $ | — | $ | — | $ | 22,377 | |||||||||||||||||
Provision for loan losses | 1,090 | 337 | 622 | (656 | ) | 108 | — | 225 | 1,726 | ||||||||||||||||||||||||
Loans charged off | (743 | ) | (65 | ) | (533 | ) | (181 | ) | (84 | ) | — | (498 | ) | (2,104 | ) | ||||||||||||||||||
Recoveries of loans previously charged off | 49 | 108 | 143 | 83 | 89 | — | 273 | 745 | |||||||||||||||||||||||||
Balance, March 31, 2014 | $ | 2,219 | $ | 5,918 | $ | 8,625 | $ | 5,280 | $ | 702 | $ | — | $ | — | $ | 22,744 | |||||||||||||||||
Period-end amount allocated to: | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 318 | $ | 631 | $ | 1,994 | $ | 1,133 | $ | — | $ | — | $ | — | $ | 4,076 | |||||||||||||||||
Loans collectively evaluated for impairment | 1,901 | 5,287 | 6,631 | 4,147 | 702 | — | — | 18,668 | |||||||||||||||||||||||||
Ending balance | $ | 2,219 | $ | 5,918 | $ | 8,625 | $ | 5,280 | $ | 702 | $ | — | $ | — | $ | 22,744 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,837 | $ | 3,817 | $ | 16,832 | $ | 14,602 | $ | — | $ | — | $ | — | $ | 38,088 | |||||||||||||||||
Collectively evaluated for impairment | 267,734 | 145,726 | 819,398 | 378,399 | 46,037 | 383,709 | 167,493 | 2,208,496 | |||||||||||||||||||||||||
Acquired with deteriorated credit quality | — | — | — | — | — | 53,560 | 205,201 | 258,761 | |||||||||||||||||||||||||
Ending balance | $ | 270,571 | $ | 149,543 | $ | 836,230 | $ | 393,001 | $ | 46,037 | $ | 437,269 | $ | 372,694 | $ | 2,505,345 | |||||||||||||||||
Purchased Non-Covered Loans [Member] | |||||||||||||||||||||||||||||||||
Summary of Purchased Non-Covered Loans According to Major Loan Type | Purchased non-covered loans are shown below according to major loan type as of the end of the periods shown: | ||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 36,258 | $ | 38,041 | $ | 30,810 | |||||||||||||||||||||||||||
Real estate – construction and development | 53,668 | 58,362 | 31,820 | ||||||||||||||||||||||||||||||
Real estate – commercial and farmland | 291,760 | 306,706 | 174,281 | ||||||||||||||||||||||||||||||
Real estate – residential | 257,216 | 266,342 | 196,078 | ||||||||||||||||||||||||||||||
Consumer installment | 4,190 | 4,788 | 4,280 | ||||||||||||||||||||||||||||||
$ | 643,092 | $ | 674,239 | $ | 437,269 | ||||||||||||||||||||||||||||
Summary of Financial Receivable Nonaccrual Basis | The following table presents an analysis of purchased non-covered loans accounted for on a nonaccrual basis: | ||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 198 | $ | 175 | $ | 117 | |||||||||||||||||||||||||||
Real estate – construction and development | 785 | 1,119 | 1,131 | ||||||||||||||||||||||||||||||
Real estate – commercial and farmland | 9,096 | 10,242 | 6,829 | ||||||||||||||||||||||||||||||
Real estate – residential | 7,202 | 6,644 | 7,208 | ||||||||||||||||||||||||||||||
Consumer installment | 27 | 69 | 33 | ||||||||||||||||||||||||||||||
$ | 17,308 | $ | 18,249 | $ | 15,318 | ||||||||||||||||||||||||||||
Summary of Past Due Financial Receivables | The following table presents an analysis of purchased non-covered past due loans as of March 31, 2015, December 31, 2014 and March 31, 2014: | ||||||||||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 216 | $ | — | $ | 85 | $ | 301 | $ | 35,957 | $ | 36,258 | $ | — | |||||||||||||||||||
Real estate – construction & development | 393 | 17 | 766 | 1,176 | 52,492 | 53,668 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 1,611 | 831 | 8,495 | 10,937 | 280,823 | 291,760 | — | ||||||||||||||||||||||||||
Real estate – residential | 3,113 | 2,454 | 6,490 | 12,057 | 245,159 | 257,216 | — | ||||||||||||||||||||||||||
Consumer installment loans | 100 | — | 19 | 119 | 4,071 | 4,190 | — | ||||||||||||||||||||||||||
Total | $ | 5,433 | $ | 3,302 | $ | 15,855 | $ | 24,590 | $ | 618,502 | $ | 643,092 | $ | — | |||||||||||||||||||
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, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 461 | $ | 90 | $ | 175 | $ | 726 | $ | 37,315 | $ | 38,041 | $ | — | |||||||||||||||||||
Real estate – construction & development | 790 | 1,735 | 1,117 | 3,642 | 54,720 | 58,362 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 2,107 | 1,194 | 9,529 | 12,830 | 293,876 | 306,706 | — | ||||||||||||||||||||||||||
Real estate – residential | 6,907 | 1,401 | 6,369 | 14,677 | 251,665 | 266,342 | — | ||||||||||||||||||||||||||
Consumer installment loans | 82 | — | 65 | 147 | 4,641 | 4,788 | — | ||||||||||||||||||||||||||
Total | $ | 10,347 | $ | 4,420 | $ | 17,255 | $ | 32,022 | $ | 642,217 | $ | 674,239 | $ | — | |||||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 291 | $ | — | $ | 117 | $ | 408 | $ | 30,402 | $ | 30,810 | $ | — | |||||||||||||||||||
Real estate – construction & development | 680 | 661 | 867 | 2,208 | 29,612 | 31,820 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 3,956 | 5,126 | 2,550 | 11,632 | 162,649 | 174,281 | — | ||||||||||||||||||||||||||
Real estate – residential | 5,187 | 1,816 | 6,503 | 13,506 | 182,572 | 196,078 | — | ||||||||||||||||||||||||||
Consumer installment loans | 12 | 11 | 30 | 53 | 4,227 | 4,280 | — | ||||||||||||||||||||||||||
Total | $ | 10,126 | $ | 7,614 | $ | 10,067 | $ | 27,807 | $ | 409,462 | $ | 437,269 | $ | — | |||||||||||||||||||
Summary of Impaired Financial Receivables | The following is a summary of information pertaining to purchased non-covered impaired loans: | ||||||||||||||||||||||||||||||||
As of and For the Period Ended | |||||||||||||||||||||||||||||||||
March 31, | December 31, | March 31, | |||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Nonaccrual loans | $ | 17,308 | $ | 18,249 | $ | 15,318 | |||||||||||||||||||||||||||
Troubled debt restructurings not included above | 1,526 | 1,212 | 5,191 | ||||||||||||||||||||||||||||||
Total impaired loans | $ | 18,834 | $ | 19,461 | $ | 20,509 | |||||||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 18 | $ | 360 | $ | 74 | |||||||||||||||||||||||||||
Foregone interest income on impaired loans | $ | 21 | $ | 237 | $ | 563 | |||||||||||||||||||||||||||
The following table presents an analysis of information pertaining to impaired purchased non-covered loans as of March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 1,331 | $ | 198 | $ | — | $ | 198 | $ | — | $ | 187 | |||||||||||||||||||||
Real estate – construction & development | 2,153 | 1,113 | — | 1,113 | — | 1,275 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 13,911 | 9,816 | — | 9,816 | — | 10,202 | |||||||||||||||||||||||||||
Real estate – residential | 12,183 | 7,679 | — | 7,679 | — | 7,435 | |||||||||||||||||||||||||||
Consumer installment loans | 38 | 28 | — | 28 | — | 50 | |||||||||||||||||||||||||||
Total | $ | 29,616 | $ | 18,834 | $ | — | $ | 18,834 | $ | — | $ | 19,148 | |||||||||||||||||||||
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, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 1,366 | $ | 175 | $ | — | $ | 175 | $ | — | $ | 165 | |||||||||||||||||||||
Real estate – construction & development | 5,161 | 1,436 | — | 1,436 | — | 1,643 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 15,007 | 10,588 | — | 10,588 | — | 7,484 | |||||||||||||||||||||||||||
Real estate – residential | 12,283 | 7,191 | — | 7,191 | — | 7,084 | |||||||||||||||||||||||||||
Consumer installment loans | 172 | 71 | — | 71 | — | 68 | |||||||||||||||||||||||||||
Total | $ | 33,989 | $ | 19,461 | $ | — | $ | 19,461 | $ | — | $ | 16,444 | |||||||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 233 | $ | 117 | $ | — | $ | 117 | $ | — | $ | 64 | |||||||||||||||||||||
Real estate – construction & development | 6,173 | 3,574 | — | 3,574 | — | 3,631 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 12,966 | 7,790 | — | 7,790 | — | 5,336 | |||||||||||||||||||||||||||
Real estate – residential | 15,524 | 8,987 | — | 8,987 | — | 7,483 | |||||||||||||||||||||||||||
Consumer installment loans | 240 | 41 | — | 41 | — | 39 | |||||||||||||||||||||||||||
Total | $ | 35,136 | $ | 20,509 | $ | — | $ | 20,509 | $ | — | $ | 16,553 | |||||||||||||||||||||
Summary of Credit Quality Indicate Financial Receivable | The following table presents the purchased non-covered loan portfolio by risk grade as of March 31, 2015: | ||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment | ||||||||||||||||||||||||||||
agricultural | development | farmland | loans | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | 6,696 | $ | — | $ | — | $ | 289 | $ | 459 | $ | — | $ | 7,444 | |||||||||||||||||||
15 | 995 | 641 | 9,396 | 12,136 | 472 | — | 23,640 | ||||||||||||||||||||||||||
20 | 13,751 | 13,746 | 115,359 | 62,056 | 1,568 | — | 206,480 | ||||||||||||||||||||||||||
23 | 73 | — | 3,174 | 6,777 | — | — | 10,024 | ||||||||||||||||||||||||||
25 | 12,585 | 31,512 | 136,581 | 155,187 | 1,521 | — | 337,386 | ||||||||||||||||||||||||||
30 | 958 | 3,564 | 9,404 | 8,332 | 65 | — | 22,323 | ||||||||||||||||||||||||||
40 | 1,170 | 4,205 | 17,846 | 12,417 | 105 | — | 35,743 | ||||||||||||||||||||||||||
50 | 30 | — | — | 22 | — | — | 52 | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 36,258 | $ | 53,668 | $ | 291,760 | $ | 257,216 | $ | 4,190 | $ | — | $ | 643,092 | |||||||||||||||||||
The following table presents the purchased non-covered loan portfolio by risk grade as of December 31, 2014: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment | ||||||||||||||||||||||||||||
agricultural | development | farmland | loans | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | 6,624 | $ | — | $ | — | $ | 290 | $ | 480 | $ | — | $ | 7,394 | |||||||||||||||||||
15 | 1,376 | 552 | 13,277 | 14,051 | 501 | — | 29,727 | ||||||||||||||||||||||||||
20 | 13,657 | 12,991 | 116,308 | 64,083 | 1,647 | — | 208,686 | ||||||||||||||||||||||||||
23 | 73 | — | 3,207 | 3,298 | — | — | 6,578 | ||||||||||||||||||||||||||
25 | 13,753 | 36,230 | 144,293 | 164,959 | 1,920 | — | 361,155 | ||||||||||||||||||||||||||
30 | 1,618 | 4,365 | 12,279 | 7,444 | 41 | — | 25,747 | ||||||||||||||||||||||||||
40 | 910 | 4,254 | 17,342 | 12,184 | 199 | — | 34,889 | ||||||||||||||||||||||||||
50 | 30 | — | — | 33 | — | — | 63 | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 38,041 | $ | 58,362 | $ | 306,706 | $ | 266,342 | $ | 4,788 | $ | — | $ | 674,239 | |||||||||||||||||||
The following table presents the purchased non-covered loan portfolio by risk grade as of March 31, 2014: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment | ||||||||||||||||||||||||||||
agricultural | development | farmland | loans | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | 1,932 | $ | — | $ | — | $ | 287 | $ | 328 | $ | — | $ | 2,547 | |||||||||||||||||||
15 | 4,408 | 52 | 12,422 | 14,231 | 679 | — | 31,792 | ||||||||||||||||||||||||||
20 | 4,596 | 3,907 | 43,132 | 33,553 | 1,218 | — | 86,406 | ||||||||||||||||||||||||||
23 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
25 | 19,213 | 22,780 | 102,918 | 134,653 | 1,965 | — | 281,529 | ||||||||||||||||||||||||||
30 | 235 | 697 | 3,387 | 2,660 | 20 | — | 6,999 | ||||||||||||||||||||||||||
40 | 426 | 4,384 | 12,422 | 10,694 | 70 | — | 27,996 | ||||||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 30,810 | $ | 31,820 | $ | 174,281 | $ | 196,078 | $ | 4,280 | $ | — | $ | 437,269 | |||||||||||||||||||
Summary of Troubled Debt Restructurings by Loan Class | The following table presents the amount of troubled debt restructurings by loan class of purchased non-covered loans, classified separately as accrual and non-accrual at March 31, 2015, December 31, 2014 and March 31, 2014: | ||||||||||||||||||||||||||||||||
As of March 31, 2015 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | — | $ | — | 1 | $ | 1 | |||||||||||||||||||||||||||
Real estate – construction & development | 1 | 328 | — | — | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 3 | 720 | 1 | 69 | |||||||||||||||||||||||||||||
Real estate – residential | 5 | 477 | 2 | 93 | |||||||||||||||||||||||||||||
Consumer installment | 1 | 1 | 1 | 4 | |||||||||||||||||||||||||||||
Total | 10 | $ | 1,526 | 5 | $ | 167 | |||||||||||||||||||||||||||
As of December 31, 2014 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | — | $ | — | — | $ | — | |||||||||||||||||||||||||||
Real estate – construction & development | 1 | 317 | — | — | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 1 | 346 | — | — | |||||||||||||||||||||||||||||
Real estate – residential | 6 | 547 | 1 | 25 | |||||||||||||||||||||||||||||
Consumer installment | 1 | 2 | — | — | |||||||||||||||||||||||||||||
Total | 9 | $ | 1,212 | 1 | $ | 25 | |||||||||||||||||||||||||||
As of March 31, 2014 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | — | $ | — | 1 | $ | 6 | |||||||||||||||||||||||||||
Real estate – construction & development | 7 | 2,443 | 2 | 264 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 2 | 961 | 2 | 726 | |||||||||||||||||||||||||||||
Real estate – residential | 12 | 1,779 | 4 | 255 | |||||||||||||||||||||||||||||
Consumer installment | 1 | 8 | 2 | 17 | |||||||||||||||||||||||||||||
Total | 22 | $ | 5,191 | 11 | $ | 1,268 | |||||||||||||||||||||||||||
Excluding Purchased Non-Covered and Covered Loans [Member] | |||||||||||||||||||||||||||||||||
Summary of Financial Receivable Nonaccrual Basis | The following table presents an analysis of loans accounted for on a nonaccrual basis, excluding purchased non-covered and covered loans: | ||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 1,015 | $ | 1,672 | $ | 3,008 | |||||||||||||||||||||||||||
Real estate – construction and development | 3,286 | 3,774 | 4,080 | ||||||||||||||||||||||||||||||
Real estate – commercial and farmland | 7,893 | 8,141 | 8,550 | ||||||||||||||||||||||||||||||
Real estate – residential | 8,246 | 7,663 | 10,631 | ||||||||||||||||||||||||||||||
Consumer installment | 401 | 478 | 460 | ||||||||||||||||||||||||||||||
$ | 20,841 | $ | 21,728 | $ | 26,729 | ||||||||||||||||||||||||||||
Summary of Past Due Financial Receivables | The following table presents an analysis of loans, excluding purchased non-covered and covered past due loans as of March 31, 2015, December 31, 2014 and March 31, 2014: | ||||||||||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 1,258 | $ | 2,821 | $ | 984 | $ | 5,063 | $ | 329,854 | $ | 334,917 | $ | — | |||||||||||||||||||
Real estate – construction & development | 404 | 240 | 3,205 | 3,849 | 174,719 | 178,568 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 6,398 | 1,285 | 7,732 | 15,415 | 931,859 | 947,274 | — | ||||||||||||||||||||||||||
Real estate – residential | 4,430 | 1,879 | 7,569 | 13,878 | 482,165 | 496,043 | — | ||||||||||||||||||||||||||
Consumer installment loans | 367 | 136 | 256 | 759 | 28,354 | 29,113 | — | ||||||||||||||||||||||||||
Other | — | — | — | — | 13,505 | 13,505 | — | ||||||||||||||||||||||||||
Total | $ | 12,857 | $ | 6,361 | $ | 19,746 | $ | 38,964 | $ | 1,960,456 | $ | 1,999,420 | $ | — | |||||||||||||||||||
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, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 900 | $ | 233 | $ | 1,577 | $ | 2,710 | $ | 316,944 | $ | 319,654 | $ | — | |||||||||||||||||||
Real estate – construction & development | 1,382 | 286 | 3,367 | 5,035 | 156,472 | 161,507 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 2,859 | 635 | 7,668 | 11,162 | 896,362 | 907,524 | — | ||||||||||||||||||||||||||
Real estate – residential | 3,953 | 2,334 | 6,755 | 13,042 | 443,064 | 456,106 | — | ||||||||||||||||||||||||||
Consumer installment loans | 634 | 158 | 366 | 1,158 | 29,624 | 30,782 | 1 | ||||||||||||||||||||||||||
Other | — | — | — | — | 14,308 | 14,308 | — | ||||||||||||||||||||||||||
Total | $ | 9,728 | $ | 3,646 | $ | 19,733 | $ | 33,107 | $ | 1,856,774 | $ | 1,889,881 | $ | 1 | |||||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 1,083 | $ | 386 | $ | 2,956 | $ | 4,425 | $ | 266,146 | $ | 270,571 | $ | — | |||||||||||||||||||
Real estate – construction & development | 1,304 | 249 | 3,919 | 5,472 | 144,071 | 149,543 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 2,255 | 1,650 | 7,622 | 11,527 | 824,703 | 836,230 | — | ||||||||||||||||||||||||||
Real estate – residential | 3,657 | 1,541 | 10,298 | 15,496 | 377,505 | 393,001 | — | ||||||||||||||||||||||||||
Consumer installment loans | 474 | 68 | 345 | 887 | 31,458 | 32,345 | — | ||||||||||||||||||||||||||
Other | — | — | — | — | 13,692 | 13,692 | — | ||||||||||||||||||||||||||
Total | $ | 8,773 | $ | 3,894 | $ | 25,140 | $ | 37,807 | $ | 1,657,575 | $ | 1,695,382 | $ | — | |||||||||||||||||||
Summary of Impaired Financial Receivables | The following is a summary of information pertaining to impaired loans, excluding purchased non-covered and covered loans: | ||||||||||||||||||||||||||||||||
As of and For the Period Ended | |||||||||||||||||||||||||||||||||
March 31, | December 31, | March 31, | |||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Nonaccrual loans | $ | 20,841 | $ | 21,728 | $ | 26,729 | |||||||||||||||||||||||||||
Troubled debt restructurings not included above | 12,935 | 12,759 | 18,848 | ||||||||||||||||||||||||||||||
Total impaired loans | $ | 33,776 | $ | 34,487 | $ | 45,577 | |||||||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 168 | $ | 1,991 | $ | 246 | |||||||||||||||||||||||||||
Foregone interest income on impaired loans | $ | 109 | $ | 155 | $ | 246 | |||||||||||||||||||||||||||
The following table presents an analysis of information pertaining to impaired loans, excluding purchased non-covered and covered loans as of March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 2,378 | $ | 5 | $ | 1,287 | $ | 1,292 | $ | 240 | $ | 1,627 | |||||||||||||||||||||
Real estate – construction & development | 7,397 | 274 | 3,801 | 4,075 | 667 | 4,264 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 16,980 | 3,280 | 11,922 | 15,202 | 2,127 | 14,909 | |||||||||||||||||||||||||||
Real estate – residential | 14,181 | 1,592 | 11,166 | 12,758 | 1,869 | 12,833 | |||||||||||||||||||||||||||
Consumer installment loans | 548 | — | 449 | 449 | 6 | 491 | |||||||||||||||||||||||||||
Total | $ | 41,484 | $ | 5,151 | $ | 28,625 | $ | 33,776 | $ | 4,909 | $ | 34,124 | |||||||||||||||||||||
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, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 3,387 | $ | 6 | $ | 1,956 | $ | 1,962 | $ | 395 | $ | 3,021 | |||||||||||||||||||||
Real estate – construction & development | 8,325 | 448 | 4,005 | 4,453 | 771 | 5,368 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 17,514 | 4,967 | 9,651 | 14,618 | 1,859 | 15,972 | |||||||||||||||||||||||||||
Real estate – residential | 15,571 | 3,514 | 9,407 | 12,921 | 974 | 16,317 | |||||||||||||||||||||||||||
Consumer installment loans | 618 | — | 533 | 533 | 9 | 519 | |||||||||||||||||||||||||||
Total | $ | 45,415 | $ | 8,935 | $ | 25,552 | $ | 34,487 | $ | 4,008 | $ | 41,197 | |||||||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 5,421 | $ | — | $ | 3,719 | $ | 3,719 | $ | 394 | $ | 4,169 | |||||||||||||||||||||
Real estate – construction & development | 10,636 | — | 6,033 | 6,033 | 736 | 5,950 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 19,983 | — | 17,282 | 17,282 | 1,972 | 16,380 | |||||||||||||||||||||||||||
Real estate – residential | 21,307 | — | 17,996 | 17,996 | 1,211 | 18,983 | |||||||||||||||||||||||||||
Consumer installment loans | 688 | — | 547 | 547 | 11 | 515 | |||||||||||||||||||||||||||
Total | $ | 58,035 | $ | — | $ | 45,577 | $ | 45,577 | $ | 4,324 | $ | 45,997 | |||||||||||||||||||||
Summary of Credit Quality Indicate Financial Receivable | The following table presents the loan portfolio, excluding purchased non-covered and covered loans, by risk grade as of March 31, 2015: | ||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment | ||||||||||||||||||||||||||||
agricultural | development | farmland | loans | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | 147,820 | $ | 1,751 | $ | 152 | $ | 1,727 | $ | 6,011 | $ | — | $ | 157,461 | |||||||||||||||||||
15 | 24,619 | 3,504 | 119,032 | 57,583 | 1,191 | — | 205,929 | ||||||||||||||||||||||||||
20 | 90,407 | 47,148 | 541,490 | 303,463 | 16,720 | 13,505 | 1,012,733 | ||||||||||||||||||||||||||
23 | 981 | 8,521 | 11,934 | 7,141 | 66 | — | 28,643 | ||||||||||||||||||||||||||
25 | 60,018 | 110,570 | 238,026 | 100,175 | 4,222 | — | 513,011 | ||||||||||||||||||||||||||
30 | 3,911 | 1,890 | 11,364 | 8,007 | 289 | — | 25,461 | ||||||||||||||||||||||||||
40 | 7,161 | 5,184 | 25,276 | 17,947 | 610 | — | 56,178 | ||||||||||||||||||||||||||
50 | — | — | — | — | 4 | — | 4 | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 334,917 | $ | 178,568 | $ | 947,274 | $ | 496,043 | $ | 29,113 | $ | 13,505 | $ | 1,999,420 | |||||||||||||||||||
The following table presents the loan portfolio, excluding purchased non-covered and covered loans, by risk grade as of December 31, 2014: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment | ||||||||||||||||||||||||||||
agricultural | development | farmland | loans | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | 121,355 | $ | 268 | $ | 155 | $ | 226 | $ | 6,573 | $ | — | $ | 128,577 | |||||||||||||||||||
15 | 25,318 | 4,010 | 128,170 | 59,301 | 1,005 | — | 217,804 | ||||||||||||||||||||||||||
20 | 100,599 | 47,541 | 511,198 | 256,758 | 17,544 | 14,308 | 947,948 | ||||||||||||||||||||||||||
23 | 56 | 8,933 | 10,507 | 9,672 | 37 | — | 29,205 | ||||||||||||||||||||||||||
25 | 62,519 | 93,514 | 224,464 | 102,998 | 4,692 | — | 488,187 | ||||||||||||||||||||||||||
30 | 3,758 | 1,474 | 13,035 | 7,459 | 257 | — | 25,983 | ||||||||||||||||||||||||||
40 | 6,049 | 5,767 | 19,995 | 19,692 | 673 | — | 52,176 | ||||||||||||||||||||||||||
50 | — | — | — | — | 1 | — | 1 | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 319,654 | $ | 161,507 | $ | 907,524 | $ | 456,106 | $ | 30,782 | $ | 14,308 | $ | 1,889,881 | |||||||||||||||||||
The following table presents the loan portfolio, excluding purchased non-covered and covered loans, by risk grade as of March 31, 2014: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment | ||||||||||||||||||||||||||||
agricultural | development | farmland | loans | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | 86,688 | $ | — | $ | 259 | $ | 478 | $ | 6,380 | $ | — | $ | 93,805 | |||||||||||||||||||
15 | 26,730 | 5,483 | 153,285 | 57,119 | 1,346 | — | 243,963 | ||||||||||||||||||||||||||
20 | 90,692 | 48,872 | 454,292 | 192,492 | 17,678 | 13,692 | 817,718 | ||||||||||||||||||||||||||
23 | 120 | 9,111 | 9,784 | 11,765 | 276 | — | 31,056 | ||||||||||||||||||||||||||
25 | 55,827 | 76,962 | 178,174 | 100,634 | 5,580 | — | 417,177 | ||||||||||||||||||||||||||
30 | 5,386 | 2,889 | 15,324 | 14,440 | 201 | — | 38,240 | ||||||||||||||||||||||||||
40 | 5,001 | 6,226 | 25,112 | 16,063 | 884 | — | 53,286 | ||||||||||||||||||||||||||
50 | 127 | — | — | 10 | — | — | 137 | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 270,571 | $ | 149,543 | $ | 836,230 | $ | 393,001 | $ | 32,345 | $ | 13,692 | $ | 1,695,382 | |||||||||||||||||||
Summary of Troubled Debt Restructurings by Loan Class | The following table presents the amount of troubled debt restructurings by loan class, excluding purchased non-covered and covered loans, classified separately as accrual and non-accrual at March 31, 2015, December 31, 2014 and March 31, 2014: | ||||||||||||||||||||||||||||||||
As of March 31, 2015 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 5 | $ | 277 | 3 | $ | 17 | |||||||||||||||||||||||||||
Real estate – construction & development | 9 | 789 | 4 | 90 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 20 | 7,309 | 1 | 64 | |||||||||||||||||||||||||||||
Real estate – residential | 42 | 4,513 | 11 | 736 | |||||||||||||||||||||||||||||
Consumer installment | 10 | 47 | 15 | 90 | |||||||||||||||||||||||||||||
Total | 86 | $ | 12,935 | 34 | $ | 997 | |||||||||||||||||||||||||||
As of December 31, 2014 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 6 | $ | 290 | 2 | $ | 13 | |||||||||||||||||||||||||||
Real estate – construction & development | 9 | 679 | 5 | 228 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 19 | 6,477 | 3 | 724 | |||||||||||||||||||||||||||||
Real estate – residential | 47 | 5,258 | 11 | 1,485 | |||||||||||||||||||||||||||||
Consumer installment | 11 | 55 | 11 | 73 | |||||||||||||||||||||||||||||
Total | 92 | $ | 12,759 | 32 | $ | 2,523 | |||||||||||||||||||||||||||
As of March 31, 2014 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 4 | $ | 711 | 2 | $ | 40 | |||||||||||||||||||||||||||
Real estate – construction & development | 11 | 1,953 | 1 | 29 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 19 | 8,733 | 5 | 1,316 | |||||||||||||||||||||||||||||
Real estate – residential | 35 | 7,364 | 8 | 961 | |||||||||||||||||||||||||||||
Consumer installment | 11 | 87 | 2 | 19 | |||||||||||||||||||||||||||||
Total | 80 | $ | 18,848 | 18 | $ | 2,365 | |||||||||||||||||||||||||||
Summary of Troubled Debt Restructuring by Loan Class, Classified Separately under Restructured Terms | The following table presents the amount of troubled debt restructurings by loan class of covered loans, classified separately as accrual and non-accrual at March 31, 2015, December 31, 2014 and March 31, 2014: | ||||||||||||||||||||||||||||||||
As of March 31, 2015 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 1 | $ | 3 | 2 | $ | — | |||||||||||||||||||||||||||
Real estate – construction & development | 3 | 2,819 | 1 | 13 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 13 | 6,461 | 2 | 1,736 | |||||||||||||||||||||||||||||
Real estate – residential | 97 | 11,436 | 10 | 821 | |||||||||||||||||||||||||||||
Consumer installment | 1 | 2 | — | — | |||||||||||||||||||||||||||||
Total | 115 | $ | 20,721 | 15 | $ | 2,570 | |||||||||||||||||||||||||||
As of December 31, 2014 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 2 | $ | 40 | 2 | $ | — | |||||||||||||||||||||||||||
Real estate – construction & development | 4 | 3,037 | 2 | 29 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 14 | 8,079 | 5 | 1,082 | |||||||||||||||||||||||||||||
Real estate – residential | 96 | 11,460 | 8 | 831 | |||||||||||||||||||||||||||||
Consumer installment | 1 | 3 | — | — | |||||||||||||||||||||||||||||
Total | 117 | $ | 22,619 | 17 | $ | 1,942 | |||||||||||||||||||||||||||
As of March 31, 2014 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 1 | $ | 14 | 5 | $ | 68 | |||||||||||||||||||||||||||
Real estate – construction & development | 3 | 3,254 | 5 | 49 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 14 | 7,461 | 7 | 3,872 | |||||||||||||||||||||||||||||
Real estate – residential | 85 | 12,046 | 9 | 1,031 | |||||||||||||||||||||||||||||
Consumer installment | — | — | 1 | 5 | |||||||||||||||||||||||||||||
Total | 103 | $ | 22,775 | 27 | $ | 5,025 | |||||||||||||||||||||||||||
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) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 8,404 | $ | 8,541 | $ | 10,025 | |||||||||||||||||||||||||||
Real estate – construction and development | 6,262 | 7,601 | 14,780 | ||||||||||||||||||||||||||||||
Real estate – commercial and farmland | 17,000 | 12,584 | 24,285 | ||||||||||||||||||||||||||||||
Real estate – residential | 6,606 | 6,595 | 10,558 | ||||||||||||||||||||||||||||||
Consumer installment | 87 | 91 | 133 | ||||||||||||||||||||||||||||||
$ | 38,359 | $ | 35,412 | $ | 59,781 | ||||||||||||||||||||||||||||
Summary of Past Due Financial Receivables | The following table presents an analysis of covered past due loans as of March 31, 2015, December 31, 2014 and March 31, 2014: | ||||||||||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 165 | $ | 225 | $ | 1,776 | $ | 2,166 | $ | 18,739 | $ | 20,905 | $ | — | |||||||||||||||||||
Real estate – construction & development | 455 | — | 5,605 | 6,060 | 13,459 | 19,519 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 2,364 | 1,150 | 11,063 | 14,577 | 115,713 | 130,290 | — | ||||||||||||||||||||||||||
Real estate – residential | 2,293 | 1,019 | 4,999 | 8,310 | 66,536 | 74,847 | — | ||||||||||||||||||||||||||
Consumer installment loans | — | — | 87 | 87 | 97 | 184 | — | ||||||||||||||||||||||||||
Total | $ | 5,277 | $ | 2,394 | $ | 23,530 | $ | 31,201 | $ | 214,544 | $ | 245,745 | $ | — | |||||||||||||||||||
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, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 451 | $ | 136 | $ | 1,878 | $ | 2,465 | $ | 19,002 | $ | 21,467 | $ | — | |||||||||||||||||||
Real estate – construction & development | 238 | 226 | 6,703 | 7,167 | 16,280 | 23,447 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 4,371 | 1,486 | 7,711 | 13,568 | 134,059 | 147,627 | 714 | ||||||||||||||||||||||||||
Real estate – residential | 3,464 | 962 | 5,656 | 10,082 | 68,438 | 78,520 | — | ||||||||||||||||||||||||||
Consumer installment loans | 10 | — | 91 | 101 | 117 | 218 | — | ||||||||||||||||||||||||||
Total | $ | 8,534 | $ | 2,810 | $ | 22,039 | $ | 33,383 | $ | 237,896 | $ | 271,279 | $ | 714 | |||||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 688 | $ | 55 | $ | 8,976 | $ | 9,719 | $ | 15,094 | $ | 24,813 | $ | — | |||||||||||||||||||
Real estate – construction & development | 4,248 | 302 | 14,472 | 19,022 | 22,412 | 41,434 | — | ||||||||||||||||||||||||||
Real estate – commercial & farmland | 15,732 | 3,722 | 17,680 | 37,134 | 177,515 | 214,649 | — | ||||||||||||||||||||||||||
Real estate – residential | 3,579 | 1,585 | 9,752 | 14,916 | 76,456 | 91,372 | 1,396 | ||||||||||||||||||||||||||
Consumer installment loans | 2 | 50 | 103 | 155 | 271 | 426 | — | ||||||||||||||||||||||||||
Total | $ | 24,249 | $ | 5,714 | $ | 50,983 | $ | 80,946 | $ | 291,748 | $ | 372,694 | $ | 1,396 | |||||||||||||||||||
Summary of Impaired Financial Receivables | The following is a summary of information pertaining to covered impaired loans: | ||||||||||||||||||||||||||||||||
As of and For the Period Ended | |||||||||||||||||||||||||||||||||
March 31, | December 31, | March 31, | |||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Nonaccrual loans | $ | 38,359 | $ | 35,412 | $ | 59,781 | |||||||||||||||||||||||||||
Troubled debt restructurings not included above | 20,721 | 22,619 | 22,775 | ||||||||||||||||||||||||||||||
Total impaired loans | $ | 59,080 | $ | 58,031 | $ | 82,556 | |||||||||||||||||||||||||||
Interest income recognized on impaired loans | $ | 220 | $ | 2,057 | $ | 387 | |||||||||||||||||||||||||||
Foregone interest income on impaired loans | $ | 130 | $ | 109 | $ | 10 | |||||||||||||||||||||||||||
The following table presents an analysis of information pertaining to impaired covered loans as of March 31, 2015, December 31, 2014 and March 31, 2014: | |||||||||||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 13,512 | $ | 8,407 | $ | — | $ | 8,407 | $ | — | $ | 8,495 | |||||||||||||||||||||
Real estate – construction & development | 24,503 | 9,080 | — | 9,080 | — | 9,859 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 35,493 | 23,462 | — | 23,462 | — | 22,062 | |||||||||||||||||||||||||||
Real estate – residential | 23,585 | 18,042 | — | 18,042 | — | 18,048 | |||||||||||||||||||||||||||
Consumer installment loans | 119 | 89 | — | 89 | — | 92 | |||||||||||||||||||||||||||
Total | $ | 97,212 | $ | 59,080 | $ | — | $ | 59,080 | $ | — | $ | 58,556 | |||||||||||||||||||||
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, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 14,385 | $ | 8,582 | $ | — | $ | 8,582 | $ | — | $ | 9,777 | |||||||||||||||||||||
Real estate – construction & development | 27,289 | 10,638 | — | 10,638 | — | 14,132 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 31,309 | 20,663 | — | 20,663 | — | 28,594 | |||||||||||||||||||||||||||
Real estate – residential | 22,860 | 18,054 | — | 18,054 | — | 21,091 | |||||||||||||||||||||||||||
Consumer installment loans | 124 | 94 | — | 94 | — | 163 | |||||||||||||||||||||||||||
Total | $ | 95,967 | $ | 58,031 | $ | — | $ | 58,031 | $ | — | $ | 73,757 | |||||||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | $ | 16,020 | $ | 10,039 | $ | — | $ | 10,039 | $ | — | $ | 8,655 | |||||||||||||||||||||
Real estate – construction & development | 50,876 | 18,034 | — | 18,034 | — | 18,036 | |||||||||||||||||||||||||||
Real estate – commercial & farmland | 66,557 | 31,746 | — | 31,746 | — | 36,247 | |||||||||||||||||||||||||||
Real estate – residential | 30,824 | 22,604 | — | 22,604 | — | 23,801 | |||||||||||||||||||||||||||
Consumer installment loans | 190 | 133 | — | 133 | — | 237 | |||||||||||||||||||||||||||
Total | $ | 164,467 | $ | 82,556 | $ | — | $ | 82,556 | $ | — | $ | 86,976 | |||||||||||||||||||||
Summary of Credit Quality Indicate Financial Receivable | The following table presents the covered loan portfolio by risk grade as of March 31, 2015: | ||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment | ||||||||||||||||||||||||||||
agricultural | development | farmland | loans | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
15 | 667 | 1,847 | 734 | 522 | — | — | 3,770 | ||||||||||||||||||||||||||
20 | 75 | 458 | 21,010 | 13,353 | 51 | — | 34,947 | ||||||||||||||||||||||||||
23 | 4,481 | 8,567 | 6,382 | 6,130 | — | — | 25,560 | ||||||||||||||||||||||||||
25 | 5,094 | 2,594 | 69,536 | 36,510 | 37 | — | 113,771 | ||||||||||||||||||||||||||
30 | 10,588 | 6,053 | 4,053 | 5,893 | 9 | — | 26,596 | ||||||||||||||||||||||||||
40 | — | — | 28,575 | 12,439 | 87 | — | 41,101 | ||||||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 20,905 | $ | 19,519 | $ | 130,290 | $ | 74,847 | $ | 184 | $ | — | $ | 245,745 | |||||||||||||||||||
The following table presents the covered loan portfolio by risk grade as of December 31, 2014: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment | ||||||||||||||||||||||||||||
agricultural | development | farmland | loans | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
15 | — | 1 | 761 | 525 | — | — | 1,287 | ||||||||||||||||||||||||||
20 | 917 | 3,184 | 23,167 | 14,089 | 77 | — | 41,434 | ||||||||||||||||||||||||||
23 | 164 | 537 | 11,404 | 6,642 | — | — | 18,747 | ||||||||||||||||||||||||||
25 | 5,181 | 9,406 | 80,334 | 33,124 | 37 | — | 128,082 | ||||||||||||||||||||||||||
30 | 4,808 | 2,753 | 5,302 | 8,050 | — | — | 20,913 | ||||||||||||||||||||||||||
40 | 10,397 | 7,566 | 26,659 | 16,090 | 104 | — | 60,816 | ||||||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 21,467 | $ | 23,447 | $ | 147,627 | $ | 78,520 | $ | 218 | $ | — | $ | 271,279 | |||||||||||||||||||
The following table presents the covered loan portfolio by risk grade as of March 31, 2014: | |||||||||||||||||||||||||||||||||
Risk | Commercial, | Real estate - | Real estate - | Real estate - | Consumer | Other | Total | ||||||||||||||||||||||||||
Grade | financial & | construction & | commercial & | residential | installment | ||||||||||||||||||||||||||||
agricultural | development | farmland | loans | ||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
10 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||
15 | — | 10 | 1,024 | 650 | — | — | 1,684 | ||||||||||||||||||||||||||
20 | 1,769 | 7,760 | 35,625 | 19,613 | 151 | — | 64,918 | ||||||||||||||||||||||||||
23 | 139 | 978 | 17,416 | 4,870 | 51 | — | 23,454 | ||||||||||||||||||||||||||
25 | 6,921 | 9,182 | 101,948 | 38,140 | 42 | — | 156,233 | ||||||||||||||||||||||||||
30 | 5,106 | 1,185 | 17,625 | 7,025 | 3 | — | 30,944 | ||||||||||||||||||||||||||
40 | 10,878 | 22,319 | 41,011 | 21,074 | 179 | — | 95,461 | ||||||||||||||||||||||||||
50 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
60 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total | $ | 24,813 | $ | 41,434 | $ | 214,649 | $ | 91,372 | $ | 426 | $ | — | $ | 372,694 | |||||||||||||||||||
Financing Receivable Troubled Debt Restructuring [Member] | |||||||||||||||||||||||||||||||||
Summary of Troubled Debt Restructurings by Loan Class | The following table presents the loans by class modified as troubled debt restructurings that occurred during the three months ending March 31, 2015 and 2014: | ||||||||||||||||||||||||||||||||
March 31, 2015 | March 31, 2014 | ||||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | — | $ | — | 1 | $ | 7 | |||||||||||||||||||||||||||
Real estate – construction & development | — | — | 2 | 79 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 2 | 2,015 | 3 | 1,052 | |||||||||||||||||||||||||||||
Real estate – residential | 7 | 666 | 1 | 21 | |||||||||||||||||||||||||||||
Consumer installment | 3 | 17 | 5 | 21 | |||||||||||||||||||||||||||||
Total | 12 | $ | 2,698 | 12 | $ | 1,180 | |||||||||||||||||||||||||||
Summary of Troubled Debt Restructuring by Loan Class, Defaulted under Restructured Terms | The following table presents the troubled debt restructurings by class that defaulted during the three months ending March 31, 2015 and 2014: | ||||||||||||||||||||||||||||||||
March 31, 2015 | March 31, 2014 | ||||||||||||||||||||||||||||||||
Loan class: | # | Balance | # | Balance | |||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Commercial, financial & agricultural | 1 | $ | 5 | — | $ | — | |||||||||||||||||||||||||||
Real estate – construction & development | — | — | 2 | 40 | |||||||||||||||||||||||||||||
Real estate – commercial & farmland | 3 | 746 | 4 | 1,897 | |||||||||||||||||||||||||||||
Real estate – residential | 6 | 748 | 3 | 280 | |||||||||||||||||||||||||||||
Consumer installment | 4 | 20 | 1 | 24 | |||||||||||||||||||||||||||||
Total | 14 | $ | 1,519 | 10 | $ | 2,241 | |||||||||||||||||||||||||||
Assets_Acquired_in_FDICAssiste1
Assets Acquired in FDIC-Assisted Acquisitions (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||
Banking and Thrift [Abstract] | |||||||||||||||||||||||||||||||||
Schedule of Acquisition Details | From October 2009 through July 2012, the Company participated in ten FDIC-assisted acquisitions whereby the Company purchased certain failed institutions out of the FDIC’s receivership. These institutions include the following: | ||||||||||||||||||||||||||||||||
Bank Acquired | Location | Branches | Date Acquired | ||||||||||||||||||||||||||||||
American United Bank (“AUB”) | Lawrenceville, Ga. | 1 | October 23, 2009 | ||||||||||||||||||||||||||||||
United Security Bank (“USB”) | Sparta, Ga. | 2 | November 6, 2009 | ||||||||||||||||||||||||||||||
Satilla Community Bank (“SCB”) | St. Marys, Ga. | 1 | May 14, 2010 | ||||||||||||||||||||||||||||||
First Bank of Jacksonville (“FBJ”) | Jacksonville, Fl. | 2 | October 22, 2010 | ||||||||||||||||||||||||||||||
Tifton Banking Company (“TBC”) | Tifton, Ga. | 1 | November 12, 2010 | ||||||||||||||||||||||||||||||
Darby Bank & Trust (“DBT”) | Vidalia, Ga. | 7 | November 12, 2010 | ||||||||||||||||||||||||||||||
High Trust Bank (“HTB”) | Stockbridge, Ga. | 2 | July 15, 2011 | ||||||||||||||||||||||||||||||
One Georgia Bank (“OGB”) | Midtown Atlanta, Ga. | 1 | July 15, 2011 | ||||||||||||||||||||||||||||||
Central Bank of Georgia (“CBG”) | Ellaville, Ga. | 5 | February 24, 2012 | ||||||||||||||||||||||||||||||
Montgomery Bank & Trust (“MBT”) | Ailey, Ga. | 2 | July 6, 2012 | ||||||||||||||||||||||||||||||
Components of Covered Assets | The following table summarizes components of all covered assets at March 31, 2015, December 31, 2014 and March 31, 2014 and their origin: | ||||||||||||||||||||||||||||||||
Covered loans | Less: Fair | Total | OREO | Less: Fair | Total | Total | FDIC loss-share | ||||||||||||||||||||||||||
value | covered | value | covered | covered | receivable | ||||||||||||||||||||||||||||
adjustments | loans | adjustments | OREO | assets | (payable) | ||||||||||||||||||||||||||||
As of March 31, 2015: | |||||||||||||||||||||||||||||||||
AUB | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 248 | |||||||||||||||||
USB | 4,031 | 19 | 4,012 | 165 | — | 165 | 4,177 | (1,216 | ) | ||||||||||||||||||||||||
SCB | 23,803 | 512 | 23,291 | 2,474 | 389 | 2,085 | 25,376 | 2,093 | |||||||||||||||||||||||||
FBJ | 19,409 | 1,539 | 17,870 | 427 | 56 | 371 | 18,241 | 1,366 | |||||||||||||||||||||||||
DBT | 53,832 | 4,740 | 49,092 | 5,716 | 381 | 5,335 | 54,427 | 3,576 | |||||||||||||||||||||||||
TBC | 21,068 | 570 | 20,498 | 1,698 | 162 | 1,536 | 22,034 | 1,545 | |||||||||||||||||||||||||
HTB | 48,384 | 4,331 | 44,053 | 2,885 | 938 | 1,947 | 46,000 | 7,069 | |||||||||||||||||||||||||
OGB | 38,699 | 2,409 | 36,290 | 1,435 | 39 | 1,396 | 37,686 | 2,748 | |||||||||||||||||||||||||
CBG | 56,262 | 5,623 | 50,639 | 3,731 | 477 | 3,254 | 53,893 | 5,883 | |||||||||||||||||||||||||
Total | $ | 265,488 | $ | 19,743 | $ | 245,745 | $ | 18,531 | $ | 2,442 | $ | 16,089 | $ | 261,834 | $ | 23,312 | |||||||||||||||||
Covered loans | Less: Fair | Total | OREO | Less: Fair | Total | Total | FDIC loss-share | ||||||||||||||||||||||||||
value | covered | value | covered | covered | receivable | ||||||||||||||||||||||||||||
adjustments | loans | adjustments | OREO | assets | (payable) | ||||||||||||||||||||||||||||
As of December 31, 2014: | |||||||||||||||||||||||||||||||||
AUB | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 188 | |||||||||||||||||
USB | 4,350 | 150 | 4,200 | 165 | — | 165 | 4,365 | (1,197 | ) | ||||||||||||||||||||||||
SCB | 26,686 | 602 | 26,084 | 2,849 | 389 | 2,460 | 28,544 | 1,828 | |||||||||||||||||||||||||
FBJ | 21,243 | 1,825 | 19,418 | 632 | — | 632 | 20,050 | 1,885 | |||||||||||||||||||||||||
DBT | 64,338 | 6,437 | 57,901 | 6,655 | 514 | 6,141 | 64,042 | 6,860 | |||||||||||||||||||||||||
TBC | 23,487 | 1,117 | 22,370 | 2,388 | 367 | 2,021 | 24,391 | 3,287 | |||||||||||||||||||||||||
HTB | 52,699 | 5,120 | 47,579 | 3,670 | 1,283 | 2,387 | 49,966 | 6,459 | |||||||||||||||||||||||||
OGB | 42,971 | 3,785 | 39,186 | 2,244 | 39 | 2,205 | 41,391 | 3,906 | |||||||||||||||||||||||||
CBG | 60,950 | 6,409 | 54,541 | 4,805 | 909 | 3,896 | 58,437 | 8,135 | |||||||||||||||||||||||||
Total | $ | 296,724 | $ | 25,445 | $ | 271,279 | $ | 23,408 | $ | 3,501 | $ | 19,907 | $ | 291,186 | $ | 31,351 | |||||||||||||||||
Covered loans | Less: Fair | Total | OREO | Less: Fair | Total | Total | FDIC loss-share | ||||||||||||||||||||||||||
value | covered | value | covered | covered | receivable | ||||||||||||||||||||||||||||
adjustments | loans | adjustments | OREO | assets | |||||||||||||||||||||||||||||
As of March 31, 2014: | |||||||||||||||||||||||||||||||||
AUB | $ | 13,629 | $ | 220 | $ | 13,409 | $ | 4,264 | $ | — | $ | 4,264 | $ | 17,673 | $ | 1,190 | |||||||||||||||||
USB | 15,668 | 935 | 14,733 | 3,366 | 135 | 3,231 | 17,964 | 535 | |||||||||||||||||||||||||
SCB | 33,896 | 1,274 | 32,622 | 3,122 | 303 | 2,819 | 35,441 | 2,781 | |||||||||||||||||||||||||
FBJ | 24,281 | 2,768 | 21,513 | 1,850 | 253 | 1,597 | 23,110 | 3,034 | |||||||||||||||||||||||||
DBT | 100,909 | 13,138 | 87,771 | 12,250 | 1,092 | 11,158 | 98,929 | 14,947 | |||||||||||||||||||||||||
TBC | 31,576 | 2,119 | 29,457 | 4,681 | 761 | 3,920 | 33,377 | 3,425 | |||||||||||||||||||||||||
HTB | 61,560 | 6,630 | 54,930 | 7,263 | 2,349 | 4,914 | 59,844 | 8,540 | |||||||||||||||||||||||||
OGB | 55,569 | 4,653 | 50,916 | 8,169 | 2,984 | 5,185 | 56,101 | 6,815 | |||||||||||||||||||||||||
CBG | 77,767 | 10,424 | 67,343 | 7,127 | 1,579 | 5,548 | 72,891 | 11,914 | |||||||||||||||||||||||||
Total | $ | 414,855 | $ | 42,161 | $ | 372,694 | $ | 52,092 | $ | 9,456 | $ | 42,636 | $ | 415,330 | $ | 53,181 | |||||||||||||||||
Rollforward of Acquired Covered Loans | A rollforward of acquired covered loans for the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014 is shown below: | ||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Balance, January 1 | $ | 271,279 | $ | 390,237 | $ | 390,237 | |||||||||||||||||||||||||||
Charge-offs | (2,812 | ) | (9,255 | ) | (4,326 | ) | |||||||||||||||||||||||||||
Accretion | 4,466 | 22,188 | 9,767 | ||||||||||||||||||||||||||||||
Transfer to covered other real estate owned | (1,230 | ) | (13,650 | ) | (4,925 | ) | |||||||||||||||||||||||||||
Transfer to purchased, non-covered loans due to loss-share expiration | — | (15,475 | ) | — | |||||||||||||||||||||||||||||
Payments received | (25,958 | ) | (102,996 | ) | (18,070 | ) | |||||||||||||||||||||||||||
Other | — | 230 | 11 | ||||||||||||||||||||||||||||||
Ending balance | $ | 245,745 | $ | 271,279 | $ | 372,694 | |||||||||||||||||||||||||||
Changes in FDIC Shared-Loss Receivable | Changes in the FDIC shared-loss receivable for the three months ended March 31, 2015, for the year ended December 31, 2014 and for the three months ended March 31, 2014 are as follows: | ||||||||||||||||||||||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||||||||||||||
Beginning balance, January 1 | $ | 31,351 | $ | 65,441 | $ | 65,441 | |||||||||||||||||||||||||||
Payments received from FDIC | (6,390 | ) | (22,494 | ) | (6,773 | ) | |||||||||||||||||||||||||||
Accretion (amortization) | (3,666 | ) | (18,449 | ) | (8,203 | ) | |||||||||||||||||||||||||||
Changes in clawback liability | (569 | ) | (1,222 | ) | (164 | ) | |||||||||||||||||||||||||||
Increase in receivable due to: | |||||||||||||||||||||||||||||||||
Charge-offs on covered loans | 1,602 | 3,372 | 2,369 | ||||||||||||||||||||||||||||||
Write downs of covered other real estate | 804 | 4,771 | 876 | ||||||||||||||||||||||||||||||
Reimbursable expenses on covered assets | 651 | 1,078 | 483 | ||||||||||||||||||||||||||||||
Other activity, net | (471 | ) | (1,146 | ) | (848 | ) | |||||||||||||||||||||||||||
Ending balance | $ | 23,312 | $ | 31,351 | $ | 53,181 | |||||||||||||||||||||||||||
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Banking and Thrift [Abstract] | |||||||||||||
Summary of Activity in Other Real Estate Owned | The following is a summary of the activity in other real estate owned during the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014: | ||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||
2015 | 2014 | 2014 | |||||||||||
Beginning balance, January 1 | $ | 33,160 | $ | 33,351 | $ | 33,351 | |||||||
Loans transferred to other real estate owned | 2,444 | 11,972 | 2,554 | ||||||||||
Net gains (losses) on sale and write-downs | (958 | ) | (4,585 | ) | (750 | ) | |||||||
Sales proceeds | (2,307 | ) | (7,578 | ) | (1,316 | ) | |||||||
Ending balance | $ | 32,339 | $ | 33,160 | $ | 33,839 | |||||||
Summary of Activity in Purchased Non-Covered Other Real Estate Owned | The following is a summary of the activity in purchased, non-covered other real estate owned during the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014: | ||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||
2015 | 2014 | 2014 | |||||||||||
Beginning balance, January 1 | $ | 15,585 | $ | 4,276 | $ | 4,276 | |||||||
Loans transferred to other real estate owned | 1,094 | 4,160 | 68 | ||||||||||
Acquired in acquisitions | — | 8,864 | — | ||||||||||
Transfer from covered other real estate owned due to loss share expiration | — | 1,226 | — | ||||||||||
Net gains (losses) on sale and write-downs | 129 | 828 | 49 | ||||||||||
Sales proceeds | (2,990 | ) | (3,769 | ) | (529 | ) | |||||||
Ending balance | $ | 13,818 | $ | 15,585 | $ | 3,864 | |||||||
Summary of Activity in Covered Other Real Estate Owned | The following is a summary of the activity in covered other real estate owned during the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014: | ||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||
2015 | 2014 | 2014 | |||||||||||
Beginning balance, January 1 | $ | 19,907 | $ | 45,893 | $ | 45,893 | |||||||
Loans transferred to other real estate owned | 1,230 | 13,650 | 4,925 | ||||||||||
Transfer from covered other real estate owned due to loss share expiration | — | (1,226 | ) | — | |||||||||
Net gains (losses) on sale and write-downs | (1,005 | ) | (5,965 | ) | (1,095 | ) | |||||||
Sales proceeds | (4,043 | ) | (32,445 | ) | (7,087 | ) | |||||||
Ending balance | $ | 16,089 | $ | 19,907 | $ | 42,636 | |||||||
Weighted_Average_Shares_Outsta1
Weighted Average Shares Outstanding (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
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 | |||||||||
Ended March 31, | |||||||||
2015 | 2014 | ||||||||
(share data in | |||||||||
thousands) | |||||||||
Basic shares outstanding | 30,443 | 25,144 | |||||||
Plus: Dilutive effect of ISOs | 124 | 95 | |||||||
Plus: Dilutive effect of Restricted Grants | 229 | 334 | |||||||
Diluted shares outstanding | 30,796 | 25,573 | |||||||
Other_Borrowings_Tables
Other Borrowings (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Debt Disclosure [Abstract] | |||||||||||||
Summary of Other Borrowings | Other borrowings consist of the following: | ||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||
2015 | 2014 | 2014 | |||||||||||
Daily Rate Credit from Federal Home Loan Bank with a fixed interest rate of 0.36% | $ | — | $ | 35,000 | $ | 25,000 | |||||||
Advances under revolving credit agreement with a regional bank with interest at 90-day LIBOR plus 3.50% (3.73% at March 31, 2015 and December 31, 2014) due in August 2016, secured by subsidiary bank stock | 24,000 | 24,000 | — | ||||||||||
Advances under revolving credit agreement with a regional bank with interest at 90-day LIBOR plus 4.00% (4.24% at March 31, 2014) due in August 2016, secured by subsidiary bank stock | — | — | 10,000 | ||||||||||
Advance from correspondent bank with a fixed interest rate of 4.50%, due November 27, 2017, secured by subsidiary bank loan receivable | 4,851 | 4,881 | 4,963 | ||||||||||
Subordinated debt issued by Prosperity Bank due June 2016 with an interest rate of 90-day LIBOR plus 1.60% (1.84% at March 31, 2014) | — | — | 5,000 | ||||||||||
Subordinated debt issued by The Prosperity Banking Company due September 2016 with an interest rate of 90-day LIBOR plus 1.75% (2.02% at March 31, 2015, 1.99% at December 31, 2014 and 1.98% at March 31, 2014) | 15,000 | 15,000 | 14,714 | ||||||||||
Total | $ | 43,851 | $ | 78,881 | $ | 59,677 | |||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||
Summary of Company's Commitments | A summary of the Company’s commitments is as follows: | ||||||||||||
(Dollars in Thousands) | March 31, | December 31, | March 31, | ||||||||||
2015 | 2014 | 2014 | |||||||||||
Commitments to extend credit | $ | 328,191 | $ | 293,517 | $ | 235,367 | |||||||
Unused lines of credit | $ | 143,962 | $ | 49,567 | $ | 35,705 | |||||||
Financial standby letters of credit | $ | 10,548 | $ | 9,683 | $ | 7,961 | |||||||
Mortgage interest rate lock commitments | $ | 91,482 | $ | 38,868 | $ | 64,759 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Equity [Abstract] | |||||||||||||
Summary of Accumulated Other Comprehensive Income | The following tables present a summary of the accumulated other comprehensive income balances, net of tax, as of March 31, 2015 and 2014. | ||||||||||||
(Dollars in Thousands) | Unrealized Gain (Loss) | Unrealized Gain (Loss) | Accumulated Other | ||||||||||
on Derivatives | on Securities | Comprehensive Income | |||||||||||
(Loss) | |||||||||||||
Balance, January 1, 2015 | $ | 508 | $ | 5,590 | $ | 6,098 | |||||||
Reclassification for gains included in net income | — | (8 | ) | (8 | ) | ||||||||
Current year changes | (387 | ) | 650 | 263 | |||||||||
Balance, March 31, 2015 | $ | 121 | $ | 6,232 | $ | 6,353 | |||||||
(Dollars in Thousands) | Unrealized Gain (Loss) | Unrealized Gain (Loss) | Accumulated Other | ||||||||||
on Derivatives | on Securities | Comprehensive Income | |||||||||||
(Loss) | |||||||||||||
Balance, January 1, 2014 | $ | 1,397 | $ | (1,691 | ) | $ | (294 | ) | |||||
Reclassification for gains included in net income | — | (4 | ) | (4 | ) | ||||||||
Current year changes | (266 | ) | 2,938 | 2,672 | |||||||||
Balance, March 31, 2014 | $ | 1,131 | $ | 1,243 | $ | 2,374 | |||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Difference Between Fair Value and Principal Balance for Mortgage Loans Held for Sale Measured at Fair Value | The following table summarizes the difference between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of March 31, 2015, December 31, 2014 and March 31, 2014: | ||||||||||||||||||||
March 31, | December 31, | March 31, | |||||||||||||||||||
2015 | 2014 | 2014 | |||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Aggregate Fair Value of Mortgage Loans held for sale | $ | 73,796 | $ | 94,759 | $ | 51,693 | |||||||||||||||
Aggregate Unpaid Principal Balance | $ | 70,905 | $ | 90,418 | $ | 49,959 | |||||||||||||||
Past due loans of 90 days or more | $ | — | $ | — | $ | — | |||||||||||||||
Nonaccrual loans | $ | — | $ | — | $ | — | |||||||||||||||
Fair Value Measurements of Assets and Liabilities Measured on Recurring Basis | The following table presents the fair value measurements of assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of March 31, 2015, December 31, 2014 and March 31, 2014 (dollars in thousands): | ||||||||||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||
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 | $ | 14,984 | $ | — | $ | 14,984 | $ | — | |||||||||||||
State, county and municipal securities | 159,064 | — | 159,064 | — | |||||||||||||||||
Corporate debt securities | 10,935 | — | 8,435 | 2,500 | |||||||||||||||||
Mortgage-backed securities | 425,347 | — | 425,347 | — | |||||||||||||||||
Mortgage loans held for sale | 73,796 | — | 73,796 | — | |||||||||||||||||
Mortgage banking derivative instruments | 4,006 | — | 4,006 | — | |||||||||||||||||
Total recurring assets at fair value | $ | 688,132 | $ | — | $ | 685,632 | $ | 2,500 | |||||||||||||
Derivative financial instruments | $ | 1,805 | $ | — | $ | 1,805 | $ | — | |||||||||||||
Mortgage banking derivative instruments | 548 | — | 548 | — | |||||||||||||||||
Total recurring liabilities at fair value | $ | 2,353 | $ | — | $ | 2,353 | $ | — | |||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||
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 | $ | 14,678 | $ | — | $ | 14,678 | $ | — | |||||||||||||
State, county and municipal securities | 141,375 | — | 141,375 | — | |||||||||||||||||
Corporate debt securities | 11,040 | — | 8,540 | 2,500 | |||||||||||||||||
Mortgage-backed securities | 374,712 | 8,248 | 366,464 | — | |||||||||||||||||
Mortgage loans held for sale | 94,759 | — | 94,759 | — | |||||||||||||||||
Mortgage banking derivative instruments | 1,757 | — | 1,757 | — | |||||||||||||||||
Total recurring assets at fair value | $ | 638,321 | $ | 8,248 | $ | 627,573 | $ | 2,500 | |||||||||||||
Derivative financial instruments | $ | 1,315 | $ | — | $ | 1,315 | $ | — | |||||||||||||
Mortgage banking derivative instruments | 249 | — | 249 | — | |||||||||||||||||
Total recurring liabilities at fair value | $ | 1,564 | $ | — | $ | 1,564 | $ | — | |||||||||||||
Fair Value Measurements on a Recurring Basis | |||||||||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||
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 | $ | 14,145 | $ | — | $ | 14,145 | $ | — | |||||||||||||
State, county and municipal securities | 111,574 | — | 111,574 | — | |||||||||||||||||
Corporate debt securities | 10,383 | — | 8,383 | 2,000 | |||||||||||||||||
Mortgage-backed securities | 320,611 | — | 320,611 | — | |||||||||||||||||
Mortgage loans held for sale | 51,693 | — | 51,693 | — | |||||||||||||||||
Mortgage banking derivative instruments | 2,528 | — | 2,528 | — | |||||||||||||||||
Total recurring assets at fair value | $ | 510,934 | $ | — | $ | 508,934 | $ | 2,000 | |||||||||||||
Derivative financial instruments | $ | 675 | $ | — | $ | 675 | $ | — | |||||||||||||
Total recurring liabilities at fair value | $ | 675 | $ | — | $ | 675 | $ | — | |||||||||||||
Summary of Fair Value Measurements of Assets Measured at Fair Value on Non-Recurring Basis | The following table presents the fair value measurements of assets measured at fair value on a non-recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy as of March 31, 2015, December 31, 2014 and March 31, 2014 (dollars in thousands): | ||||||||||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||
Fair | Quoted | Significant | Significant | ||||||||||||||||||
Value | Prices | Other | Unobservable | ||||||||||||||||||
in Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Impaired loans carried at fair value | $ | 28,867 | $ | — | $ | — | $ | 28,867 | |||||||||||||
Purchased, non-covered other real estate owned | 13,818 | — | — | 13,818 | |||||||||||||||||
Covered other real estate owned | 16,089 | — | — | 16,089 | |||||||||||||||||
Total nonrecurring assets at fair value | $ | 58,774 | $ | — | $ | — | $ | 58,774 | |||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||
Fair | Quoted | Significant | Significant | ||||||||||||||||||
Value | Prices | Other | Unobservable | ||||||||||||||||||
in Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Impaired loans carried at fair value | $ | 30,479 | $ | — | $ | — | $ | 30,479 | |||||||||||||
Purchased, non-covered other real estate owned | 15,585 | — | — | 15,585 | |||||||||||||||||
Covered other real estate owned | 19,907 | — | — | 19,907 | |||||||||||||||||
Total nonrecurring assets at fair value | $ | 65,971 | $ | — | $ | — | $ | 65,971 | |||||||||||||
Fair Value Measurements on a Nonrecurring Basis | |||||||||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||
Fair | Quoted | Significant | Significant | ||||||||||||||||||
Value | Prices | Other | Unobservable | ||||||||||||||||||
in Active | Observable | Inputs | |||||||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||||||
Identical | (Level 2) | ||||||||||||||||||||
Assets | |||||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Impaired loans carried at fair value | $ | 41,253 | $ | — | $ | — | $ | 41,253 | |||||||||||||
Purchased, non-covered other real estate owned | 3,864 | — | — | 3,864 | |||||||||||||||||
Covered other real estate owned | 42,636 | — | — | 42,636 | |||||||||||||||||
Total nonrecurring assets at fair value | $ | 87,753 | $ | — | $ | — | $ | 87,753 | |||||||||||||
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: | ||||||||||||||||||||
Fair Value | Valuation Technique | Unobservable Inputs | Range of | Weighted | |||||||||||||||||
Discounts | Average | ||||||||||||||||||||
Discount | |||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||
Nonrecurring: | |||||||||||||||||||||
Impaired loans | $ | 28,867 | Third party appraisals | Collateral discounts and | 0% - 70% | 24 | % | ||||||||||||||
and discounted cash flows | discount rates | ||||||||||||||||||||
Purchased non-covered real estate owned | $ | 13,818 | Third party appraisals | Collateral discounts and | 10% - 96% | 16 | % | ||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Covered real estate owned | $ | 16,089 | Third party appraisals | Collateral discounts and | 10% - 70% | 9 | % | ||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Recurring: | |||||||||||||||||||||
Investment securities available for sale | $ | 2,500 | Discounted par values | Credit quality of | 0% | 0 | % | ||||||||||||||
underlying issuer | |||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||
Nonrecurring: | |||||||||||||||||||||
Impaired loans | $ | 30,479 | Third party appraisals and | Collateral discounts and | 0% - 50% | 20 | % | ||||||||||||||
discounted cash flows | discount rates | ||||||||||||||||||||
Purchased non-covered real estate owned | $ | 15,585 | Third party appraisals | Collateral discounts and | 10% - 96% | 20 | % | ||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Covered real estate owned | $ | 19,907 | Third party appraisals | Collateral discounts and | 10% - 90% | 11 | % | ||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Recurring: | |||||||||||||||||||||
Investment securities available for sale | $ | 2,500 | Discounted par values | Credit quality of | 0% | 0 | % | ||||||||||||||
underlying issuer | |||||||||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||
Nonrecurring: | |||||||||||||||||||||
Impaired loans | $ | 41,253 | Third party appraisals and | Collateral discounts and | 0% - 75% | 26 | % | ||||||||||||||
discounted cash flows | discount rates | ||||||||||||||||||||
Purchased non-covered real estate owned | $ | 3,864 | Third party appraisals | Collateral discounts and | 15% - 57% | 17 | % | ||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Covered real estate owned | $ | 42,636 | Third party appraisals | Collateral discounts and | 10% - 92% | 12 | % | ||||||||||||||
estimated costs to sell | |||||||||||||||||||||
Recurring: | |||||||||||||||||||||
Investment securities available for sale | $ | 2,000 | Discounted par values | Credit quality of | 0% | 0 | % | ||||||||||||||
underlying issuer | |||||||||||||||||||||
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 March 31, 2015 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and due from banks | $ | 80,142 | $ | 80,142 | $ | — | $ | — | $ | 80,142 | |||||||||||
Federal funds sold and interest-bearing accounts | 126,157 | 126,157 | — | — | 126,157 | ||||||||||||||||
Loans, net | 2,837,538 | — | — | 2,885,524 | 2,885,524 | ||||||||||||||||
FDIC loss-share receivable | 23,312 | — | — | 9,990 | 9,990 | ||||||||||||||||
Accrued interest receivable | 15,332 | 15,332 | — | — | 15,332 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 3,480,231 | $ | — | $ | 3,481,470 | $ | — | $ | 3,481,470 | |||||||||||
Securities sold under agreements to repurchase | 55,520 | 55,520 | — | — | 55,520 | ||||||||||||||||
Other borrowings | 43,851 | — | 43,851 | — | 43,851 | ||||||||||||||||
Accrued interest payable | 1,177 | 1,177 | — | — | 1,177 | ||||||||||||||||
Subordinated deferrable interest debentures | 65,567 | — | 47,055 | — | 47,055 | ||||||||||||||||
Fair Value Measurements at December 31, 2014 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and due from banks | $ | 78,026 | $ | 78,026 | $ | — | $ | — | $ | 78,026 | |||||||||||
Federal funds sold and interest-bearing accounts | 92,323 | 92,323 | — | — | 92,323 | ||||||||||||||||
Loans, net | 2,783,763 | — | — | 2,785,627 | 2,785,627 | ||||||||||||||||
FDIC loss-share receivable | 31,351 | — | — | 18,764 | 18,764 | ||||||||||||||||
Accrued interest receivable | 17,023 | 17,023 | — | — | 17,023 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 3,431,149 | $ | — | $ | 3,432,059 | $ | — | $ | 3,432,059 | |||||||||||
Securities sold under agreements to repurchase | 73,310 | 73,310 | — | — | 73,310 | ||||||||||||||||
Other borrowings | 78,881 | — | 78,881 | — | 78,881 | ||||||||||||||||
Accrued interest payable | 1,382 | 1,382 | — | — | 1,382 | ||||||||||||||||
Subordinated deferrable interest debentures | 65,325 | — | 46,564 | — | 46,564 | ||||||||||||||||
Fair Value Measurements at March 31, 2014 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and due from banks | $ | 71,387 | $ | 71,387 | $ | — | $ | — | $ | 71,387 | |||||||||||
Federal funds sold and interest-bearing accounts | 48,677 | 48,677 | — | — | 48,677 | ||||||||||||||||
Loans, net | 2,441,348 | — | — | 2,461,372 | 2,461,372 | ||||||||||||||||
FDIC loss-share receivable | 53,181 | — | — | 39,930 | 39,930 | ||||||||||||||||
Accrued interest receivable | 13,849 | 13,849 | — | — | 13,849 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 3,010,647 | $ | — | $ | 3,011,383 | $ | — | $ | 3,011,383 | |||||||||||
Securities sold under agreements to repurchase | 49,974 | 49,974 | — | — | 49,974 | ||||||||||||||||
Other borrowings | 59,677 | — | 59,677 | — | 59,677 | ||||||||||||||||
Accrued interest payable | 1,357 | 1,357 | — | — | 1,357 | ||||||||||||||||
Subordinated deferrable interest debentures | 55,628 | — | 36,504 | — | 36,504 |
Segment_Reporting_Tables
Segment Reporting (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Schedule of Financial Information with Respect to Company's Reportable Business Segments | The following tables present selected financial information with respect to the Company’s reportable business segments for the three months ended March 31, 2015 and 2014: | ||||||||||||||||
Three Months Ended | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Retail Banking | Mortgage Banking | SBA | Total | ||||||||||||||
Division | Division | Division | |||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Net interest income | $ | 35,839 | $ | 2,380 | $ | 613 | $ | 38,832 | |||||||||
Provision for loan losses | 927 | 142 | — | 1,069 | |||||||||||||
Noninterest income | 8,780 | 7,883 | 912 | 17,575 | |||||||||||||
Noninterest expense: | |||||||||||||||||
Salaries and employee benefits | 15,362 | 4,654 | 616 | 20,632 | |||||||||||||
Equipment and occupancy expenses | 4,144 | 382 | 28 | 4,554 | |||||||||||||
Data processing and telecommunications expenses | 4,011 | 245 | 4 | 4,260 | |||||||||||||
Other expenses | 10,356 | 968 | 57 | 11,381 | |||||||||||||
Total noninterest expense | 33,873 | 6,249 | 705 | 40,827 | |||||||||||||
Income before income tax expense | 9,819 | 3,872 | 820 | 14,511 | |||||||||||||
Income tax expense | 3,105 | 1,355 | 287 | 4,747 | |||||||||||||
Net income | 6,714 | 2,517 | 533 | 9,764 | |||||||||||||
Less preferred stock dividends | — | — | — | — | |||||||||||||
Net income available to common shareholders | $ | 6,714 | $ | 2,517 | $ | 533 | $ | 9,764 | |||||||||
Total assets | $ | 3,839,417 | $ | 244,477 | $ | 69,010 | $ | 4,152,904 | |||||||||
Intangible assets | $ | 71,138 | $ | — | $ | — | $ | 71,138 | |||||||||
Three Months Ended | |||||||||||||||||
31-Mar-14 | |||||||||||||||||
Retail Banking | Mortgage Banking | SBA | Total | ||||||||||||||
Division | Division | Division | |||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Net interest income | $ | 32,928 | $ | 1,100 | $ | 456 | $ | 34,484 | |||||||||
Provision for loan losses | 1,726 | — | — | 1,726 | |||||||||||||
Noninterest income | 7,361 | 5,164 | 229 | 12,754 | |||||||||||||
Noninterest expense: | |||||||||||||||||
Salaries and employee benefits | 13,577 | 3,568 | 249 | 17,394 | |||||||||||||
Equipment and occupancy expenses | 3,749 | 302 | 13 | 4,064 | |||||||||||||
Data processing and telecommunications expenses | 3,326 | 122 | 6 | 3,454 | |||||||||||||
Other expenses | 7,380 | 815 | 132 | 8,327 | |||||||||||||
Total noninterest expense | 28,032 | 4,807 | 400 | 33,239 | |||||||||||||
Income before income tax expense | 10,531 | 1,457 | 285 | 12,273 | |||||||||||||
Income tax expense | 3,313 | 510 | 100 | 3,923 | |||||||||||||
Net income | 7,218 | 947 | 185 | 8,350 | |||||||||||||
Less preferred stock dividends | 286 | — | — | 286 | |||||||||||||
Net income available to common shareholders | $ | 6,932 | $ | 947 | $ | 185 | $ | 8,064 | |||||||||
Total assets | $ | 3,315,731 | $ | 128,072 | $ | 44,181 | $ | 3,487,984 | |||||||||
Intangible assets | $ | 40,526 | $ | — | $ | — | $ | 40,526 |
Basis_of_Presentation_and_Acco2
Basis of Presentation and Accounting Policies - Additional Information (Detail) | Mar. 31, 2015 |
Branch | |
Accounting Policies [Abstract] | |
Number of retail branches operated | 73 |
Pending_Merger_and_Acquisition1
Pending Merger and Acquisition - Additional Information (Detail) (USD $) | 0 Months Ended | |
Jan. 28, 2015 | Dec. 31, 2014 | |
Location | ||
Business Acquisition [Line Items] | ||
Number of banking locations | 13 | |
Purchase price | $50,000,000 | |
Reported assets of Coastal Bank | 473,000,000 | |
Reported loans of Coastal Bank | 214,000,000 | |
Reported deposits of Coastal Bank | 336,000,000 | |
Bank of America [Member] | ||
Business Acquisition [Line Items] | ||
Number of branches | 18 | |
Deposits acquired | $864,000,000 | |
Deposit premium | 3.00% |
Business_Combinations_Addition
Business Combinations - Additional Information (Detail) (USD $) | 0 Months Ended | ||||
Jan. 28, 2015 | Jun. 30, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
Location | Location | ||||
Business Acquisition [Line Items] | |||||
Number of banking locations | 13 | ||||
Goodwill, excess of the merger consideration over fair value of net assets | $63,547,000 | $63,547,000 | $35,049,000 | ||
Coastal Bank [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of banking locations | 6 | ||||
Coastal Bankshares, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Shares to receive for each share of Prosperity common stock pursuant to the merger agreement | 0.4671 | ||||
Issuance of common stock, shares | 1,598,998 | ||||
Issuance of common stock, fair value | 34,500,000 | ||||
Goodwill, excess of the merger consideration over fair value of net assets | 27,437,000 | 27,400,000 | |||
Fair value of loans acquired | 279,400,000 | ||||
Net of loans acquired | 16,700,000 | ||||
Estimated discount | 5.64% | ||||
Impaired loans | 29,300,000 | 3,282,000 | |||
Coastal Bankshares, Inc. [Member] | Warrant [Member] | |||||
Business Acquisition [Line Items] | |||||
Cash in exchange for outstanding warrants | 2,800,000 |
Business_Combinations_Estimate
Business Combinations - Estimated Fair Value of Assets Acquired and Liabilities Assumed (Detail) (USD $) | 0 Months Ended | ||||
Jan. 28, 2015 | Jun. 30, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
Assets | |||||
Cash value of bank owned life insurance | $59,212,000 | $58,867,000 | $49,738,000 | ||
Total assets | 473,000,000 | ||||
Deposits: | |||||
Federal funds purchased and securities sold under agreements to repurchase | 16,100,000 | ||||
Goodwill | 63,547,000 | 63,547,000 | 35,049,000 | ||
Consideration: | |||||
Fair value of total consideration transferred | 50,000,000 | ||||
Coastal Bankshares, Inc. [Member] | |||||
Assets | |||||
Cash and cash equivalents | 3,895,000 | ||||
Federal funds sold and interest-bearing balances | 15,923,000 | ||||
Investment securities | 66,766,000 | ||||
Other investments | 975,000 | ||||
Mortgage loans held for sale | 7,288,000 | ||||
Loans | 279,441,000 | ||||
Loans, net | 279,441,000 | ||||
Other real estate owned | 8,864,000 | ||||
Premises and equipment | 11,882,000 | ||||
Intangible assets | 4,542,000 | ||||
Cash value of bank owned life insurance | 7,812,000 | ||||
Other assets | 14,146,000 | ||||
Total assets | 421,534,000 | ||||
Deposits: | |||||
Noninterest-bearing | 80,012,000 | ||||
Interest-bearing | 289,012,000 | ||||
Total deposits | 369,024,000 | ||||
Federal funds purchased and securities sold under agreements to repurchase | 5,428,000 | ||||
Other borrowings | 22,005,000 | ||||
Other liabilities | 6,192,000 | ||||
Subordinated deferrable interest debentures | 9,052,000 | ||||
Total liabilities | 411,701,000 | ||||
Net identifiable assets acquired over (under) liabilities assumed | 9,833,000 | ||||
Goodwill | 27,437,000 | 27,400,000 | |||
Net assets acquired over (under) liabilities assumed | 37,270,000 | ||||
Consideration: | |||||
Ameris Bancorp common shares issued | 1,598,998 | ||||
Coastal Bankshares, Inc. [Member] | As Recorded by Acquired Bank [Member] | |||||
Assets | |||||
Cash and cash equivalents | 3,895,000 | ||||
Federal funds sold and interest-bearing balances | 15,923,000 | ||||
Investment securities | 67,266,000 | ||||
Other investments | 975,000 | ||||
Mortgage loans held for sale | 7,288,000 | ||||
Loans | 296,141,000 | ||||
Less allowance for loan losses | -3,218,000 | ||||
Loans, net | 292,923,000 | ||||
Other real estate owned | 14,992,000 | ||||
Premises and equipment | 11,882,000 | ||||
Intangible assets | 507,000 | ||||
Cash value of bank owned life insurance | 7,812,000 | ||||
Other assets | 14,898,000 | ||||
Total assets | 438,361,000 | ||||
Deposits: | |||||
Noninterest-bearing | 80,012,000 | ||||
Interest-bearing | 289,012,000 | ||||
Total deposits | 369,024,000 | ||||
Federal funds purchased and securities sold under agreements to repurchase | 5,428,000 | ||||
Other borrowings | 22,005,000 | ||||
Other liabilities | 6,192,000 | ||||
Subordinated deferrable interest debentures | 15,465,000 | ||||
Total liabilities | 418,114,000 | ||||
Net identifiable assets acquired over (under) liabilities assumed | 20,247,000 | ||||
Net assets acquired over (under) liabilities assumed | 20,247,000 | ||||
Consideration: | |||||
Ameris Bancorp common shares issued | 1,598,998 | ||||
Purchase price per share of the Company's common stock | $21.56 | ||||
Company common stock issued | 34,474,000 | ||||
Cash exchanged for shares | 2,796,000 | ||||
Fair value of total consideration transferred | 37,270,000 | ||||
Coastal Bankshares, Inc. [Member] | Initial Fair Value Adjustments [Member] | |||||
Assets | |||||
Investment securities | -500,000 | ||||
Loans | -16,700,000 | ||||
Less allowance for loan losses | 3,218,000 | ||||
Loans, net | -13,482,000 | ||||
Other real estate owned | -3,528,000 | ||||
Intangible assets | 4,266,000 | ||||
Total assets | -13,244,000 | ||||
Deposits: | |||||
Subordinated deferrable interest debentures | -6,413,000 | ||||
Total liabilities | -6,413,000 | ||||
Net identifiable assets acquired over (under) liabilities assumed | -6,831,000 | ||||
Goodwill | 23,854,000 | ||||
Net assets acquired over (under) liabilities assumed | 17,023,000 | ||||
Coastal Bankshares, Inc. [Member] | Subsequent Fair Value Adjustments [Member] | |||||
Assets | |||||
Other real estate owned | -2,600,000 | ||||
Intangible assets | -231,000 | ||||
Other assets | -752,000 | ||||
Total assets | -3,583,000 | ||||
Deposits: | |||||
Net identifiable assets acquired over (under) liabilities assumed | -3,583,000 | ||||
Goodwill | $3,583,000 |
Business_Combinations_Pro_Form
Business Combinations - Pro Forma Information of Acquisitions (Detail) (Coastal Bankshares, Inc. [Member], USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 |
Coastal Bankshares, Inc. [Member] | |
Business Acquisition [Line Items] | |
Net interest income and noninterest income | $52,590 |
Net income | 9,052 |
Net income available to common stockholders | $8,766 |
Income per common share available to common stockholders - basic | $0.33 |
Income per common share available to common stockholders - diluted | $0.32 |
Average number of shares outstanding, basic | 26,743 |
Average number of shares outstanding, diluted | 27,172 |
Business_Combinations_Summary_
Business Combinations - Summary of Contractually Required Principal and Interest Cash Payment of the Loans as of Acquisition Date for Purchased Credit Impaired Loans (Detail) (Coastal Bankshares, Inc. [Member], USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Coastal Bankshares, Inc. [Member] | ||
Business Acquisition [Line Items] | ||
Contractually required principal and interest | $38,194 | |
Non-accretable difference | -5,632 | |
Cash flows expected to be collected | 32,562 | |
Accretable yield | -3,282 | -29,300 |
Total purchased credit-impaired loans acquired | $29,280 |
Business_Combinations_Rollforw
Business Combinations - Rollforward of Acquired Non-Covered Loans (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Purchased Non Covered Loans [Line Items] | |||
Balance, beginning of year | $15,578 | $25,493 | $25,493 |
Accretion | 4,466 | 9,767 | 22,188 |
Transfers to purchased non-covered other real estate owned | -1,094 | -68 | |
Balance, end of year | 12,965 | 16,091 | 15,578 |
Non-Covered Loans [Member] | |||
Purchased Non Covered Loans [Line Items] | |||
Balance, beginning of year | 674,239 | 448,753 | 448,753 |
Charge-offs, net of recoveries | -244 | -84 | |
Additions due to acquisitions | 279,441 | ||
Accretion | 3,111 | 1,023 | 9,745 |
Transfers to purchased non-covered other real estate owned | -1,094 | -68 | -4,160 |
Transfer from covered loans due to loss share expiration | 15,475 | ||
Payments received | -32,920 | -12,439 | -74,931 |
Balance, end of year | $643,092 | $437,269 | $674,239 |
Business_Combinations_Schedule
Business Combinations - Schedule of Changes in Accretable Discounts Related Acquired Non-Covered Loans (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Schedule Of Covered Loans Acquired Accretable Discounts [Line Items] | |||
Balance, beginning of year | $15,578 | $25,493 | $25,493 |
Accretion | -4,466 | -9,767 | -22,188 |
Transfers between non-accretable and accretable discounts, net | 1,853 | 365 | 12,273 |
Balance, end of year | 12,965 | 16,091 | 15,578 |
Non-Covered Loans [Member] | |||
Schedule Of Covered Loans Acquired Accretable Discounts [Line Items] | |||
Balance, beginning of year | 674,239 | 448,753 | 448,753 |
Additions due to acquisitions | 279,441 | ||
Accretion | -3,111 | -1,023 | -9,745 |
Balance, end of year | 643,092 | 437,269 | 674,239 |
Non-Covered Loans [Member] | Discount Accretion [Member] | |||
Schedule Of Covered Loans Acquired Accretable Discounts [Line Items] | |||
Balance, beginning of year | 25,716 | 26,189 | 26,189 |
Additions due to acquisitions | 7,799 | ||
Accretion | -3,111 | -1,023 | -9,745 |
Transfers between non-accretable and accretable discounts, net | -2,376 | 2,680 | 1,473 |
Balance, end of year | $20,229 | $27,846 | $25,716 |
Investment_Securities_Amortize
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Amortized Cost | $600,744 | $533,219 | $454,802 |
Gross Unrealized Gains | 11,250 | 10,697 | 7,253 |
Gross Unrealized Losses | -1,664 | -2,111 | -5,342 |
Fair Value | 610,330 | 541,805 | 456,713 |
US Government Agencies [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Amortized Cost | 14,954 | 14,953 | 14,948 |
Gross Unrealized Gains | 72 | ||
Gross Unrealized Losses | -42 | -275 | -803 |
Fair Value | 14,984 | 14,678 | 14,145 |
State, County and Municipal Securities [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Amortized Cost | 154,499 | 137,873 | 110,331 |
Gross Unrealized Gains | 4,800 | 3,935 | 2,724 |
Gross Unrealized Losses | -235 | -433 | -1,481 |
Fair Value | 159,064 | 141,375 | 111,574 |
Corporate Debt Securities [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Amortized Cost | 10,794 | 10,812 | 10,307 |
Gross Unrealized Gains | 193 | 228 | 285 |
Gross Unrealized Losses | -52 | -209 | |
Fair Value | 10,935 | 11,040 | 10,383 |
Mortgage-Backed Securities [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Amortized Cost | 420,497 | 369,581 | 319,216 |
Gross Unrealized Gains | 6,185 | 6,534 | 4,244 |
Gross Unrealized Losses | -1,335 | -1,403 | -2,849 |
Fair Value | $425,347 | $374,712 | $320,611 |
Investment_Securities_Amortize1
Investment Securities - Amortized Cost and Fair Value of Available for Sale Securities by Contractual Maturity (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Due in one year or less, Amortized Cost | $8,588 | ||
Due from one year to five years, Amortized Cost | 42,345 | ||
Due from five to ten years, Amortized Cost | 60,795 | ||
Due after ten years, Amortized Cost | 68,519 | ||
Amortized Cost | 600,744 | 533,219 | 454,802 |
Due in one year or less,Fair Value | 8,667 | ||
Due from one year to five years, Fair Value | 43,706 | ||
Due from five to ten years, Fair Value | 62,690 | ||
Due after ten years, Fair Value | 69,920 | ||
Mortgage-backed securities, Fair Value | 425,347 | ||
Total Fair Value | 610,330 | 541,805 | 456,713 |
Mortgage-Backed Securities [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Mortgage-backed securities, Amortized cost | 420,497 | ||
Amortized Cost | 420,497 | 369,581 | 319,216 |
Total Fair Value | $425,347 | $374,712 | $320,611 |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Millions, unless otherwise specified | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Securities, carrying value | $426.60 | $286.60 | $295.70 |
Debt Securities [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Number of securities, Total | 346 | ||
Number of securities in unrealized loss position | 48 | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Number of securities in unrealized loss position | 35 | ||
State, County and Municipal Securities [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Number of securities in unrealized loss position | 11 | ||
U.S. Government Sponsored Agencies [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Number of securities in unrealized loss position | 1 | ||
Corporate Debt Securities [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Number of securities in unrealized loss position | 1 |
Investment_Securities_Schedule
Investment Securities - Schedule of Gross Unrealized Losses and Fair Value of Securities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Less Than 12 Months, Fair Value | $56,043 | $51,798 | $103,393 |
12 Months or More, Fair Value | 47,020 | 81,155 | 44,459 |
Total Fair Value | 103,063 | 132,953 | 147,852 |
Less Than 12 Months, Unrealized Losses | -464 | -291 | -3,052 |
12 Months or More, Unrealized Losses | -1,200 | -1,820 | -2,290 |
Total Unrealized Losses | -1,664 | -2,111 | -5,342 |
US Government Agencies [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Less Than 12 Months, Fair Value | 9,353 | ||
12 Months or More, Fair Value | 4,958 | 14,678 | 4,792 |
Total Fair Value | 4,958 | 14,678 | 14,145 |
Less Than 12 Months, Unrealized Losses | -595 | ||
12 Months or More, Unrealized Losses | -42 | -275 | -208 |
Total Unrealized Losses | -42 | -275 | -803 |
State, County and Municipal Securities [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Less Than 12 Months, Fair Value | 4,675 | 15,038 | 38,937 |
12 Months or More, Fair Value | 10,579 | 19,665 | 3,612 |
Total Fair Value | 15,254 | 34,703 | 42,549 |
Less Than 12 Months, Unrealized Losses | -34 | -70 | -1,238 |
12 Months or More, Unrealized Losses | -201 | -363 | -243 |
Total Unrealized Losses | -235 | -433 | -1,481 |
Corporate Debt Securities [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Less Than 12 Months, Fair Value | 5,007 | ||
12 Months or More, Fair Value | 4,871 | ||
Total Fair Value | 5,007 | 4,871 | |
Less Than 12 Months, Unrealized Losses | -52 | ||
12 Months or More, Unrealized Losses | -209 | ||
Total Unrealized Losses | -52 | -209 | |
Mortgage-Backed Securities [Member] | |||
Schedule of Available-for-Sale Securities [Line Items] | |||
Less Than 12 Months, Fair Value | 46,361 | 36,760 | 55,103 |
12 Months or More, Fair Value | 31,483 | 46,812 | 31,184 |
Total Fair Value | 77,844 | 83,572 | 86,287 |
Less Than 12 Months, Unrealized Losses | -378 | -221 | -1,219 |
12 Months or More, Unrealized Losses | -957 | -1,182 | -1,630 |
Total Unrealized Losses | ($1,335) | ($1,403) | ($2,849) |
Investment_Securities_Summary_
Investment Securities - Summary of Sales Activities in the Company's Investment Securities Available for Sale (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Amortized Cost and Fair Value Debt Securities [Abstract] | |||
Gross gains on sales of securities | $31 | $8 | $141 |
Gross losses on sales of securities | -19 | -2 | -3 |
Net realized gains on sales of securities available for sale | 12 | 6 | 138 |
Sales proceeds | $5,118 | $68,899 | $94,051 |
Loans_Schedule_of_Accounts_Not
Loans - Schedule of Accounts Notes Loans and Financial Receivables (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and deferred loan fees receivables | $1,999,420 | $1,889,881 | $1,695,382 |
Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and deferred loan fees receivables | 334,917 | 319,654 | 270,571 |
Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and deferred loan fees receivables | 178,568 | 161,507 | 149,543 |
Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and deferred loan fees receivables | 947,274 | 907,524 | 836,230 |
Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and deferred loan fees receivables | 496,043 | 456,106 | 393,001 |
Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and deferred loan fees receivables | 29,113 | 30,782 | 32,345 |
Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and deferred loan fees receivables | $13,505 | $14,308 | $13,692 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
RiskGrades | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Purchased non-covered loans | $643,100,000 | $437,300,000 | $674,200,000 |
Covered loans acquired in FDIC-assisted transactions | 245,700,000 | 372,700,000 | 271,300,000 |
Number of risk grading system category | 9 | ||
Modified loans | 32,000,000 | 6,300,000 | |
Troubled debt restructurings | 1,519,000 | 2,241,000 | 1,212,000 |
Troubled debt restructurings, previous charge-offs | 1,600,000 | 2,300,000 | 2,200,000 |
Allowance for loan losses allocated to troubled debt restructurings | 1,600,000 | 422,000 | 231,000 |
Commitments to lend additional funds | 0 | ||
Troubled debt restructurings principal balances | 2,700,000 | 1,200,000 | |
Allowance for loan losses adjustments | 0 | 0 | |
Troubled debt restructurings principal balances | 1,500,000 | 2,200,000 | |
Troubled debt restructurings, provision for loan loss expense | 401,000 | 225,000 | 843,000 |
Purchased Non-Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 17,308,000 | 15,318,000 | 18,249,000 |
Modified loans | 5,433,000 | 10,126,000 | 10,347,000 |
Troubled debt restructurings | 1,526,000 | 5,191,000 | 1,212,000 |
Troubled debt restructurings, previous charge-offs | 0 | 0 | 29,000 |
Commitments to lend additional funds | 0 | ||
Non-Covered Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled debt restructurings, provision for loan loss expense | 84,000 | ||
Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 38,359,000 | 59,781,000 | 35,412,000 |
Modified loans | 5,277,000 | 24,249,000 | 8,534,000 |
Troubled debt restructurings | 23,300,000 | 27,800,000 | 24,600,000 |
Troubled debt restructurings, previous charge-offs | 1,100,000 | 3,200,000 | 1,800,000 |
Commitments to lend additional funds | 0 | ||
Minimum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loan accrued | 90 days | ||
Nonaccrual loans | 100,000 | ||
Loan-to-value ratio | 110.00% | ||
Minimum [Member] | Substandard [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | $200,000 |
Loans_Summary_of_Purchased_Non
Loans - Summary of Purchased Non-Covered Loans According to Major Loan Type (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-covered loans | $21,852 | $21,157 | $22,744 |
Purchased Non-Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-covered loans | 643,092 | 674,239 | 437,269 |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-covered loans | 36,258 | 38,041 | 30,810 |
Purchased Non-Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-covered loans | 53,668 | 58,362 | 31,820 |
Purchased Non-Covered Loans [Member] | Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-covered loans | 291,760 | 306,706 | 174,281 |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-covered loans | 257,216 | 266,342 | 196,078 |
Purchased Non-Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-covered loans | $4,190 | $4,788 | $4,280 |
Loans_Summary_of_Covered_Loans
Loans - Summary of Covered Loans According to Loan Type (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Covered Loans | $245,745 | $271,279 | $372,694 |
Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Covered Loans | 20,905 | 21,467 | 24,813 |
Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Covered Loans | 19,519 | 23,447 | 41,434 |
Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Covered Loans | 130,290 | 147,627 | 214,649 |
Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Covered Loans | 74,847 | 78,520 | 91,372 |
Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Covered Loans | $184 | $218 | $426 |
Loans_Summary_of_Financial_Rec
Loans - Summary of Financial Receivable Nonaccrual Basis (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Excluding Purchased Non-Covered and Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | $20,841,000 | $21,728,000 | $26,729,000 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 1,015,000 | 1,672,000 | 3,008,000 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 3,286,000 | 3,774,000 | 4,080,000 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 7,893,000 | 8,141,000 | 8,550,000 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 8,246,000 | 7,663,000 | 10,631,000 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 401,000 | 478,000 | 460,000 |
Purchased Non-Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 17,308,000 | 18,249,000 | 15,318,000 |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 198,000 | 175,000 | 117,000 |
Purchased Non-Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 785,000 | 1,119,000 | 1,131,000 |
Purchased Non-Covered Loans [Member] | Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 9,096,000 | 10,242,000 | 6,829,000 |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 7,202,000 | 6,644,000 | 7,208,000 |
Purchased Non-Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 27,000 | 69,000 | 33,000 |
Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 38,359,000 | 35,412,000 | 59,781,000 |
Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 8,404,000 | 8,541,000 | 10,025,000 |
Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 6,262,000 | 7,601,000 | 14,780,000 |
Covered Loans [Member] | Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 17,000,000 | 12,584,000 | 24,285,000 |
Covered Loans [Member] | Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 6,606,000 | 6,595,000 | 10,558,000 |
Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | $87,000 | $91,000 | $133,000 |
Loans_Summary_of_Excluding_Pur
Loans - Summary of Excluding Purchased Non-Covered and Covered Past Due Financial Receivables (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | $32,000 | $6,300 | |
Total Loans | 1,999,420 | 1,889,881 | 1,695,382 |
Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 334,917 | 319,654 | 270,571 |
Real Estate - Construction & Development [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 178,568 | 161,507 | 149,543 |
Commercial And Farmland [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 947,274 | 907,524 | 836,230 |
Real Estate - Residential [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 496,043 | 456,106 | 393,001 |
Consumer Installment Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 29,113 | 30,782 | 32,345 |
Other [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 13,505 | 14,308 | 13,692 |
Excluding Purchased Non-Covered and Covered Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | 12,857 | 9,728 | 8,773 |
Loans 60-89 Days Past Due | 6,361 | 3,646 | 3,894 |
Loans 90 or More Days Past Due | 19,746 | 19,733 | 25,140 |
Total Loans Past Due | 38,964 | 33,107 | 37,807 |
Current Loans | 1,960,456 | 1,856,774 | 1,657,575 |
Total Loans | 1,999,420 | 1,889,881 | 1,695,382 |
Loans 90 Days or More Past Due and Still Accruing | 1 | ||
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | 1,258 | 900 | 1,083 |
Loans 60-89 Days Past Due | 2,821 | 233 | 386 |
Loans 90 or More Days Past Due | 984 | 1,577 | 2,956 |
Total Loans Past Due | 5,063 | 2,710 | 4,425 |
Current Loans | 329,854 | 316,944 | 266,146 |
Total Loans | 334,917 | 319,654 | 270,571 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | 404 | 1,382 | 1,304 |
Loans 60-89 Days Past Due | 240 | 286 | 249 |
Loans 90 or More Days Past Due | 3,205 | 3,367 | 3,919 |
Total Loans Past Due | 3,849 | 5,035 | 5,472 |
Current Loans | 174,719 | 156,472 | 144,071 |
Total Loans | 178,568 | 161,507 | 149,543 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial And Farmland [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | 6,398 | 2,859 | 2,255 |
Loans 60-89 Days Past Due | 1,285 | 635 | 1,650 |
Loans 90 or More Days Past Due | 7,732 | 7,668 | 7,622 |
Total Loans Past Due | 15,415 | 11,162 | 11,527 |
Current Loans | 931,859 | 896,362 | 824,703 |
Total Loans | 947,274 | 907,524 | 836,230 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Residential [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | 4,430 | 3,953 | 3,657 |
Loans 60-89 Days Past Due | 1,879 | 2,334 | 1,541 |
Loans 90 or More Days Past Due | 7,569 | 6,755 | 10,298 |
Total Loans Past Due | 13,878 | 13,042 | 15,496 |
Current Loans | 482,165 | 443,064 | 377,505 |
Total Loans | 496,043 | 456,106 | 393,001 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | 367 | 634 | 474 |
Loans 60-89 Days Past Due | 136 | 158 | 68 |
Loans 90 or More Days Past Due | 256 | 366 | 345 |
Total Loans Past Due | 759 | 1,158 | 887 |
Current Loans | 28,354 | 29,624 | 31,458 |
Total Loans | 29,113 | 30,782 | 32,345 |
Loans 90 Days or More Past Due and Still Accruing | 1 | ||
Excluding Purchased Non-Covered and Covered Loans [Member] | Other [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current Loans | 13,505 | 14,308 | 13,692 |
Total Loans | $13,505 | $14,308 | $13,692 |
Loans_Summary_of_NonCovered_Pa
Loans - Summary of Non-Covered Past Due Financial Receivables (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | $32,000 | $6,300 | |
Total Loans | 1,999,420 | 1,889,881 | 1,695,382 |
Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 334,917 | 319,654 | 270,571 |
Real Estate - Construction & Development [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 178,568 | 161,507 | 149,543 |
Commercial And Farmland [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 947,274 | 907,524 | 836,230 |
Real Estate - Residential [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 496,043 | 456,106 | 393,001 |
Consumer Installment Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 29,113 | 30,782 | 32,345 |
Purchased Non-Covered Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | 5,433 | 10,347 | 10,126 |
Loans 60-89 Days Past Due | 3,302 | 4,420 | 7,614 |
Loans 90 or More Days Past Due | 15,855 | 17,255 | 10,067 |
Total Loans Past Due | 24,590 | 32,022 | 27,807 |
Current Loans | 618,502 | 642,217 | 409,462 |
Total Loans | 643,092 | 674,239 | 437,269 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 | 0 |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | 216 | 461 | 291 |
Loans 60-89 Days Past Due | 90 | ||
Loans 90 or More Days Past Due | 85 | 175 | 117 |
Total Loans Past Due | 301 | 726 | 408 |
Current Loans | 35,957 | 37,315 | 30,402 |
Total Loans | 36,258 | 38,041 | 30,810 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 | 0 |
Purchased Non-Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | 393 | 790 | 680 |
Loans 60-89 Days Past Due | 17 | 1,735 | 661 |
Loans 90 or More Days Past Due | 766 | 1,117 | 867 |
Total Loans Past Due | 1,176 | 3,642 | 2,208 |
Current Loans | 52,492 | 54,720 | 29,612 |
Total Loans | 53,668 | 58,362 | 31,820 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 | 0 |
Purchased Non-Covered Loans [Member] | Commercial And Farmland [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | 1,611 | 2,107 | 3,956 |
Loans 60-89 Days Past Due | 831 | 1,194 | 5,126 |
Loans 90 or More Days Past Due | 8,495 | 9,529 | 2,550 |
Total Loans Past Due | 10,937 | 12,830 | 11,632 |
Current Loans | 280,823 | 293,876 | 162,649 |
Total Loans | 291,760 | 306,706 | 174,281 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 | 0 |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | 3,113 | 6,907 | 5,187 |
Loans 60-89 Days Past Due | 2,454 | 1,401 | 1,816 |
Loans 90 or More Days Past Due | 6,490 | 6,369 | 6,503 |
Total Loans Past Due | 12,057 | 14,677 | 13,506 |
Current Loans | 245,159 | 251,665 | 182,572 |
Total Loans | 257,216 | 266,342 | 196,078 |
Loans 90 Days or More Past Due and Still Accruing | 0 | 0 | 0 |
Purchased Non-Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans 30-59 Days Past Due | 100 | 82 | 12 |
Loans 60-89 Days Past Due | 11 | ||
Loans 90 or More Days Past Due | 19 | 65 | 30 |
Total Loans Past Due | 119 | 147 | 53 |
Current Loans | 4,071 | 4,641 | 4,227 |
Total Loans | 4,190 | 4,788 | 4,280 |
Loans 90 Days or More Past Due and Still Accruing | $0 | $0 | $0 |
Loans_Summary_of_Covered_Past_
Loans - Summary of Covered Past Due Financial Receivables (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans 30-59 Days Past Due | $32,000 | $6,300 | |
Total Loans | 1,999,420 | 1,889,881 | 1,695,382 |
Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 334,917 | 319,654 | 270,571 |
Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 178,568 | 161,507 | 149,543 |
Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 947,274 | 907,524 | 836,230 |
Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 496,043 | 456,106 | 393,001 |
Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 29,113 | 30,782 | 32,345 |
Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans 30-59 Days Past Due | 5,277 | 8,534 | 24,249 |
Loans 60-89 Days Past Due | 2,394 | 2,810 | 5,714 |
Loans 90 or More Days Past Due | 23,530 | 22,039 | 50,983 |
Total Loans Past Due | 31,201 | 33,383 | 80,946 |
Current Loans | 214,544 | 237,896 | 291,748 |
Total Loans | 245,745 | 271,279 | 372,694 |
Loans 90 Days or More Past Due and Still Accruing | 714 | 1,396 | |
Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans 30-59 Days Past Due | 165 | 451 | 688 |
Loans 60-89 Days Past Due | 225 | 136 | 55 |
Loans 90 or More Days Past Due | 1,776 | 1,878 | 8,976 |
Total Loans Past Due | 2,166 | 2,465 | 9,719 |
Current Loans | 18,739 | 19,002 | 15,094 |
Total Loans | 20,905 | 21,467 | 24,813 |
Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans 30-59 Days Past Due | 455 | 238 | 4,248 |
Loans 60-89 Days Past Due | 226 | 302 | |
Loans 90 or More Days Past Due | 5,605 | 6,703 | 14,472 |
Total Loans Past Due | 6,060 | 7,167 | 19,022 |
Current Loans | 13,459 | 16,280 | 22,412 |
Total Loans | 19,519 | 23,447 | 41,434 |
Covered Loans [Member] | Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans 30-59 Days Past Due | 2,364 | 4,371 | 15,732 |
Loans 60-89 Days Past Due | 1,150 | 1,486 | 3,722 |
Loans 90 or More Days Past Due | 11,063 | 7,711 | 17,680 |
Total Loans Past Due | 14,577 | 13,568 | 37,134 |
Current Loans | 115,713 | 134,059 | 177,515 |
Total Loans | 130,290 | 147,627 | 214,649 |
Loans 90 Days or More Past Due and Still Accruing | 714 | ||
Covered Loans [Member] | Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans 30-59 Days Past Due | 2,293 | 3,464 | 3,579 |
Loans 60-89 Days Past Due | 1,019 | 962 | 1,585 |
Loans 90 or More Days Past Due | 4,999 | 5,656 | 9,752 |
Total Loans Past Due | 8,310 | 10,082 | 14,916 |
Current Loans | 66,536 | 68,438 | 76,456 |
Total Loans | 74,847 | 78,520 | 91,372 |
Loans 90 Days or More Past Due and Still Accruing | 1,396 | ||
Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans 30-59 Days Past Due | 10 | 2 | |
Loans 60-89 Days Past Due | 50 | ||
Loans 90 or More Days Past Due | 87 | 91 | 103 |
Total Loans Past Due | 87 | 101 | 155 |
Current Loans | 97 | 117 | 271 |
Total Loans | $184 | $218 | $426 |
Loans_Summary_of_Impaired_Fina
Loans - Summary of Impaired Financial Receivables Excluding Purchased Non-Covered and Covered Loans (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled debt restructurings not included above | $1,519,000 | $2,241,000 | $1,212,000 |
Excluding Purchased Non-Covered and Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 20,841,000 | 26,729,000 | 21,728,000 |
Troubled debt restructurings not included above | 12,935,000 | 18,848,000 | 12,759,000 |
Total impaired loans | 33,776,000 | 45,577,000 | 34,487,000 |
Interest income recognized on impaired loans | 168,000 | 246,000 | 1,991,000 |
Foregone interest income on impaired loans | $109,000 | $246,000 | $155,000 |
Loans_Analysis_of_Information_
Loans - Analysis of Information Pertaining to Impaired Loans, Excluding Purchased Non-Covered and Covered Loans (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | $2,888,257 | $2,505,345 | $2,835,399 |
Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 334,917 | 270,571 | 319,654 |
Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 178,568 | 149,543 | 161,507 |
Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 947,274 | 836,230 | 907,524 |
Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 496,043 | 393,001 | 456,106 |
Excluding Purchased Non-Covered and Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 41,484 | 58,035 | 45,415 |
Recorded Investment With No Allowance | 5,151 | 8,935 | |
Recorded Investment With Allowance | 28,625 | 45,577 | 25,552 |
Total impaired loans | 33,776 | 45,577 | 34,487 |
Related Allowance | 4,909 | 4,324 | 4,008 |
Average Recorded Investment | 34,124 | 45,997 | 41,197 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 2,378 | 5,421 | 3,387 |
Recorded Investment With No Allowance | 5 | 6 | |
Recorded Investment With Allowance | 1,287 | 3,719 | 1,956 |
Total impaired loans | 1,292 | 3,719 | 1,962 |
Related Allowance | 240 | 394 | 395 |
Average Recorded Investment | 1,627 | 4,169 | 3,021 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 7,397 | 10,636 | 8,325 |
Recorded Investment With No Allowance | 274 | 448 | |
Recorded Investment With Allowance | 3,801 | 6,033 | 4,005 |
Total impaired loans | 4,075 | 6,033 | 4,453 |
Related Allowance | 667 | 736 | 771 |
Average Recorded Investment | 4,264 | 5,950 | 5,368 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 16,980 | 19,983 | 17,514 |
Recorded Investment With No Allowance | 3,280 | 4,967 | |
Recorded Investment With Allowance | 11,922 | 17,282 | 9,651 |
Total impaired loans | 15,202 | 17,282 | 14,618 |
Related Allowance | 2,127 | 1,972 | 1,859 |
Average Recorded Investment | 14,909 | 16,380 | 15,972 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 14,181 | 21,307 | 15,571 |
Recorded Investment With No Allowance | 1,592 | 3,514 | |
Recorded Investment With Allowance | 11,166 | 17,996 | 9,407 |
Total impaired loans | 12,758 | 17,996 | 12,921 |
Related Allowance | 1,869 | 1,211 | 974 |
Average Recorded Investment | 12,833 | 18,983 | 16,317 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 548 | 688 | 618 |
Recorded Investment With Allowance | 449 | 547 | 533 |
Total impaired loans | 449 | 547 | 533 |
Related Allowance | 6 | 11 | 9 |
Average Recorded Investment | $491 | $515 | $519 |
Loans_Summary_of_Impaired_Fina1
Loans - Summary of Impaired Financial Receivables (Summary of Purchased Non-Covered Impaired Loans) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled debt restructurings not included above | $1,519,000 | $2,241,000 | $1,212,000 |
Purchased Non-Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 17,308,000 | 15,318,000 | 18,249,000 |
Troubled debt restructurings not included above | 1,526,000 | 5,191,000 | 1,212,000 |
Total impaired loans | 18,834,000 | 20,509,000 | 19,461,000 |
Interest income recognized on impaired loans | 18,000 | 74,000 | 360,000 |
Foregone interest income on impaired loans | $21,000 | $563,000 | $237,000 |
Loans_Analysis_of_Information_1
Loans - Analysis of Information Pertaining to Purchased Non-Covered Impaired Loans (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | $2,888,257 | $2,505,345 | $2,835,399 |
Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 334,917 | 270,571 | 319,654 |
Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 178,568 | 149,543 | 161,507 |
Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 947,274 | 836,230 | 907,524 |
Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 496,043 | 393,001 | 456,106 |
Purchased Non-Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 29,616 | 35,136 | 33,989 |
Recorded Investment With No Allowance | 18,834 | 20,509 | 19,461 |
Recorded Investment With Allowance | 0 | 0 | 0 |
Total Recorded Investment | 18,834 | 20,509 | 19,461 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 19,148 | 16,553 | 16,444 |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 1,331 | 233 | 1,366 |
Recorded Investment With No Allowance | 198 | 117 | 175 |
Recorded Investment With Allowance | 0 | 0 | 0 |
Total Recorded Investment | 198 | 117 | 175 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 187 | 64 | 165 |
Purchased Non-Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 2,153 | 6,173 | 5,161 |
Recorded Investment With No Allowance | 1,113 | 3,574 | 1,436 |
Recorded Investment With Allowance | 0 | 0 | 0 |
Total Recorded Investment | 1,113 | 3,574 | 1,436 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 1,275 | 3,631 | 1,643 |
Purchased Non-Covered Loans [Member] | Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 13,911 | 12,966 | 15,007 |
Recorded Investment With No Allowance | 9,816 | 7,790 | 10,588 |
Recorded Investment With Allowance | 0 | 0 | 0 |
Total Recorded Investment | 9,816 | 7,790 | 10,588 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 10,202 | 5,336 | 7,484 |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 12,183 | 15,524 | 12,283 |
Recorded Investment With No Allowance | 7,679 | 8,987 | 7,191 |
Recorded Investment With Allowance | 0 | 0 | 0 |
Total Recorded Investment | 7,679 | 8,987 | 7,191 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 7,435 | 7,483 | 7,084 |
Purchased Non-Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 38 | 240 | 172 |
Recorded Investment With No Allowance | 28 | 41 | 71 |
Recorded Investment With Allowance | 0 | 0 | 0 |
Total Recorded Investment | 28 | 41 | 71 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | $50 | $39 | $68 |
Loans_Summary_of_Impaired_Fina2
Loans - Summary of Impaired Financial Receivables (Summary of Covered Impaired Loans) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Troubled debt restructurings not included above | $1,519,000 | $2,241,000 | $1,212,000 |
Covered Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Nonaccrual loans | 38,359,000 | 59,781,000 | 35,412,000 |
Troubled debt restructurings not included above | 20,721,000 | 22,775,000 | 22,619,000 |
Total impaired loans | 59,080,000 | 82,556,000 | 58,031,000 |
Interest income recognized on impaired loans | 220,000 | 387,000 | 2,057,000 |
Foregone interest income on impaired loans | $130,000 | $10,000 | $109,000 |
Loans_Summary_of_Impaired_Fina3
Loans - Summary of Impaired Financial Receivables (Analysis of Covered Impaired Loans) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | $2,888,257 | $2,505,345 | $2,835,399 |
Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 334,917 | 270,571 | 319,654 |
Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 178,568 | 149,543 | 161,507 |
Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 947,274 | 836,230 | 907,524 |
Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 496,043 | 393,001 | 456,106 |
Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 97,212 | 164,467 | 95,967 |
Recorded Investment With No Allowance | 59,080 | 82,556 | 58,031 |
Recorded Investment With Allowance | 0 | 0 | 0 |
Total Recorded Investment | 59,080 | 82,556 | 58,031 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 58,556 | 86,976 | 73,757 |
Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 13,512 | 16,020 | 14,385 |
Recorded Investment With No Allowance | 8,407 | 10,039 | 8,582 |
Recorded Investment With Allowance | 0 | 0 | 0 |
Total Recorded Investment | 8,407 | 10,039 | 8,582 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 8,495 | 8,655 | 9,777 |
Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 24,503 | 50,876 | 27,289 |
Recorded Investment With No Allowance | 9,080 | 18,034 | 10,638 |
Recorded Investment With Allowance | 0 | 0 | 0 |
Total Recorded Investment | 9,080 | 18,034 | 10,638 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 9,859 | 18,036 | 14,132 |
Covered Loans [Member] | Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 35,493 | 66,557 | 31,309 |
Recorded Investment With No Allowance | 23,462 | 31,746 | 20,663 |
Recorded Investment With Allowance | 0 | 0 | 0 |
Total Recorded Investment | 23,462 | 31,746 | 20,663 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 22,062 | 36,247 | 28,594 |
Covered Loans [Member] | Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 23,585 | 30,824 | 22,860 |
Recorded Investment With No Allowance | 18,042 | 22,604 | 18,054 |
Recorded Investment With Allowance | 0 | 0 | 0 |
Total Recorded Investment | 18,042 | 22,604 | 18,054 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 18,048 | 23,801 | 21,091 |
Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid Contractual Principal Balance | 119 | 190 | 124 |
Recorded Investment With No Allowance | 89 | 133 | 94 |
Recorded Investment With Allowance | 0 | 0 | 0 |
Total Recorded Investment | 89 | 133 | 94 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | $92 | $237 | $163 |
Loans_Summary_of_Credit_Qualit
Loans - Summary of Credit Quality Indicate Financial Receivable (Loan Excluding Purchased Non-Covered and Covered Loans Portfolio) (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | $1,999,420 | $1,889,881 | $1,695,382 |
Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 334,917 | 319,654 | 270,571 |
Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 178,568 | 161,507 | 149,543 |
Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 947,274 | 907,524 | 836,230 |
Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 496,043 | 456,106 | 393,001 |
Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 29,113 | 30,782 | 32,345 |
Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 13,505 | 14,308 | 13,692 |
Excluding Purchased Non-Covered and Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 1,999,420 | 1,889,881 | 1,695,382 |
Excluding Purchased Non-Covered and Covered Loans [Member] | 10 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 157,461 | 128,577 | 93,805 |
Excluding Purchased Non-Covered and Covered Loans [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 205,929 | 217,804 | 243,963 |
Excluding Purchased Non-Covered and Covered Loans [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 1,012,733 | 947,948 | 817,718 |
Excluding Purchased Non-Covered and Covered Loans [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 28,643 | 29,205 | 31,056 |
Excluding Purchased Non-Covered and Covered Loans [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 513,011 | 488,187 | 417,177 |
Excluding Purchased Non-Covered and Covered Loans [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 25,461 | 25,983 | 38,240 |
Excluding Purchased Non-Covered and Covered Loans [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 56,178 | 52,176 | 53,286 |
Excluding Purchased Non-Covered and Covered Loans [Member] | 50 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 4 | 1 | 137 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 334,917 | 319,654 | 270,571 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 10 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 147,820 | 121,355 | 86,688 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 24,619 | 25,318 | 26,730 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 90,407 | 100,599 | 90,692 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 981 | 56 | 120 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 60,018 | 62,519 | 55,827 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 3,911 | 3,758 | 5,386 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 7,161 | 6,049 | 5,001 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 50 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 127 | ||
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 178,568 | 161,507 | 149,543 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Construction & Development [Member] | 10 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 1,751 | 268 | |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Construction & Development [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 3,504 | 4,010 | 5,483 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Construction & Development [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 47,148 | 47,541 | 48,872 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Construction & Development [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 8,521 | 8,933 | 9,111 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Construction & Development [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 110,570 | 93,514 | 76,962 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Construction & Development [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 1,890 | 1,474 | 2,889 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Construction & Development [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 5,184 | 5,767 | 6,226 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 947,274 | 907,524 | 836,230 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial And Farmland [Member] | 10 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 152 | 155 | 259 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial And Farmland [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 119,032 | 128,170 | 153,285 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial And Farmland [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 541,490 | 511,198 | 454,292 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial And Farmland [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 11,934 | 10,507 | 9,784 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial And Farmland [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 238,026 | 224,464 | 178,174 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial And Farmland [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 11,364 | 13,035 | 15,324 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Commercial And Farmland [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 25,276 | 19,995 | 25,112 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 496,043 | 456,106 | 393,001 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Residential [Member] | 10 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 1,727 | 226 | 478 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Residential [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 57,583 | 59,301 | 57,119 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Residential [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 303,463 | 256,758 | 192,492 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Residential [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 7,141 | 9,672 | 11,765 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Residential [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 100,175 | 102,998 | 100,634 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Residential [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 8,007 | 7,459 | 14,440 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Residential [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 17,947 | 19,692 | 16,063 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Real Estate - Residential [Member] | 50 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 10 | ||
Excluding Purchased Non-Covered and Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 29,113 | 30,782 | 32,345 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Consumer Installment Loans [Member] | 10 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 6,011 | 6,573 | 6,380 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Consumer Installment Loans [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 1,191 | 1,005 | 1,346 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Consumer Installment Loans [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 16,720 | 17,544 | 17,678 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Consumer Installment Loans [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 66 | 37 | 276 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Consumer Installment Loans [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 4,222 | 4,692 | 5,580 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Consumer Installment Loans [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 289 | 257 | 201 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Consumer Installment Loans [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 610 | 673 | 884 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Consumer Installment Loans [Member] | 50 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 4 | 1 | |
Excluding Purchased Non-Covered and Covered Loans [Member] | Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 13,505 | 14,308 | 13,692 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Other [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | $13,505 | $14,308 | $13,692 |
Loans_Summary_of_Credit_Qualit1
Loans - Summary of Credit Quality Indicate Financial Receivable (Non-Covered Loan Portfolio) (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | $1,999,420 | $1,889,881 | $1,695,382 |
Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 334,917 | 319,654 | 270,571 |
Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 178,568 | 161,507 | 149,543 |
Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 947,274 | 907,524 | 836,230 |
Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 496,043 | 456,106 | 393,001 |
Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 29,113 | 30,782 | 32,345 |
Purchased Non-Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 643,092 | 674,239 | 437,269 |
Purchased Non-Covered Loans [Member] | 10 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 7,444 | 7,394 | 2,547 |
Purchased Non-Covered Loans [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 23,640 | 29,727 | 31,792 |
Purchased Non-Covered Loans [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 206,480 | 208,686 | 86,406 |
Purchased Non-Covered Loans [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 10,024 | 6,578 | |
Purchased Non-Covered Loans [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 337,386 | 361,155 | 281,529 |
Purchased Non-Covered Loans [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 22,323 | 25,747 | 6,999 |
Purchased Non-Covered Loans [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 35,743 | 34,889 | 27,996 |
Purchased Non-Covered Loans [Member] | 50 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 52 | 63 | |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 36,258 | 38,041 | 30,810 |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 10 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 6,696 | 6,624 | 1,932 |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 995 | 1,376 | 4,408 |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 13,751 | 13,657 | 4,596 |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 73 | 73 | |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 12,585 | 13,753 | 19,213 |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 958 | 1,618 | 235 |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 1,170 | 910 | 426 |
Purchased Non-Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 50 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 30 | 30 | |
Purchased Non-Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 53,668 | 58,362 | 31,820 |
Purchased Non-Covered Loans [Member] | Real Estate - Construction & Development [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 641 | 552 | 52 |
Purchased Non-Covered Loans [Member] | Real Estate - Construction & Development [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 13,746 | 12,991 | 3,907 |
Purchased Non-Covered Loans [Member] | Real Estate - Construction & Development [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 31,512 | 36,230 | 22,780 |
Purchased Non-Covered Loans [Member] | Real Estate - Construction & Development [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 3,564 | 4,365 | 697 |
Purchased Non-Covered Loans [Member] | Real Estate - Construction & Development [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 4,205 | 4,254 | 4,384 |
Purchased Non-Covered Loans [Member] | Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 291,760 | 306,706 | 174,281 |
Purchased Non-Covered Loans [Member] | Commercial And Farmland [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 9,396 | 13,277 | 12,422 |
Purchased Non-Covered Loans [Member] | Commercial And Farmland [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 115,359 | 116,308 | 43,132 |
Purchased Non-Covered Loans [Member] | Commercial And Farmland [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 3,174 | 3,207 | |
Purchased Non-Covered Loans [Member] | Commercial And Farmland [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 136,581 | 144,293 | 102,918 |
Purchased Non-Covered Loans [Member] | Commercial And Farmland [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 9,404 | 12,279 | 3,387 |
Purchased Non-Covered Loans [Member] | Commercial And Farmland [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 17,846 | 17,342 | 12,422 |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 257,216 | 266,342 | 196,078 |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | 10 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 289 | 290 | 287 |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 12,136 | 14,051 | 14,231 |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 62,056 | 64,083 | 33,553 |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 6,777 | 3,298 | |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 155,187 | 164,959 | 134,653 |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 8,332 | 7,444 | 2,660 |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 12,417 | 12,184 | 10,694 |
Purchased Non-Covered Loans [Member] | Real Estate - Residential [Member] | 50 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 22 | 33 | |
Purchased Non-Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 4,190 | 4,788 | 4,280 |
Purchased Non-Covered Loans [Member] | Consumer Installment Loans [Member] | 10 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 459 | 480 | 328 |
Purchased Non-Covered Loans [Member] | Consumer Installment Loans [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 472 | 501 | 679 |
Purchased Non-Covered Loans [Member] | Consumer Installment Loans [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 1,568 | 1,647 | 1,218 |
Purchased Non-Covered Loans [Member] | Consumer Installment Loans [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 1,521 | 1,920 | 1,965 |
Purchased Non-Covered Loans [Member] | Consumer Installment Loans [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 65 | 41 | 20 |
Purchased Non-Covered Loans [Member] | Consumer Installment Loans [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | $105 | $199 | $70 |
Loans_Summary_of_Credit_Qualit2
Loans - Summary of Credit Quality Indicate Financial Receivable (Covered Loan Portfolio) (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | $1,999,420 | $1,889,881 | $1,695,382 |
Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 334,917 | 319,654 | 270,571 |
Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 178,568 | 161,507 | 149,543 |
Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 947,274 | 907,524 | 836,230 |
Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 496,043 | 456,106 | 393,001 |
Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 29,113 | 30,782 | 32,345 |
Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 245,745 | 271,279 | 372,694 |
Covered Loans [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 3,770 | 1,287 | 1,684 |
Covered Loans [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 34,947 | 41,434 | 64,918 |
Covered Loans [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 25,560 | 18,747 | 23,454 |
Covered Loans [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 113,771 | 128,082 | 156,233 |
Covered Loans [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 26,596 | 20,913 | 30,944 |
Covered Loans [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 41,101 | 60,816 | 95,461 |
Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 20,905 | 21,467 | 24,813 |
Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 667 | ||
Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 75 | 917 | 1,769 |
Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 4,481 | 164 | 139 |
Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 5,094 | 5,181 | 6,921 |
Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 10,588 | 4,808 | 5,106 |
Covered Loans [Member] | Commercial, Financial & Agricultural [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 10,397 | 10,878 | |
Covered Loans [Member] | Real Estate - Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 19,519 | 23,447 | 41,434 |
Covered Loans [Member] | Real Estate - Construction & Development [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 1,847 | 1 | 10 |
Covered Loans [Member] | Real Estate - Construction & Development [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 458 | 3,184 | 7,760 |
Covered Loans [Member] | Real Estate - Construction & Development [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 8,567 | 537 | 978 |
Covered Loans [Member] | Real Estate - Construction & Development [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 2,594 | 9,406 | 9,182 |
Covered Loans [Member] | Real Estate - Construction & Development [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 6,053 | 2,753 | 1,185 |
Covered Loans [Member] | Real Estate - Construction & Development [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 7,566 | 22,319 | |
Covered Loans [Member] | Commercial And Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 130,290 | 147,627 | 214,649 |
Covered Loans [Member] | Commercial And Farmland [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 734 | 761 | 1,024 |
Covered Loans [Member] | Commercial And Farmland [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 21,010 | 23,167 | 35,625 |
Covered Loans [Member] | Commercial And Farmland [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 6,382 | 11,404 | 17,416 |
Covered Loans [Member] | Commercial And Farmland [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 69,536 | 80,334 | 101,948 |
Covered Loans [Member] | Commercial And Farmland [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 4,053 | 5,302 | 17,625 |
Covered Loans [Member] | Commercial And Farmland [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 28,575 | 26,659 | 41,011 |
Covered Loans [Member] | Real Estate - Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 74,847 | 78,520 | 91,372 |
Covered Loans [Member] | Real Estate - Residential [Member] | 15 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 522 | 525 | 650 |
Covered Loans [Member] | Real Estate - Residential [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 13,353 | 14,089 | 19,613 |
Covered Loans [Member] | Real Estate - Residential [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 6,130 | 6,642 | 4,870 |
Covered Loans [Member] | Real Estate - Residential [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 36,510 | 33,124 | 38,140 |
Covered Loans [Member] | Real Estate - Residential [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 5,893 | 8,050 | 7,025 |
Covered Loans [Member] | Real Estate - Residential [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 12,439 | 16,090 | 21,074 |
Covered Loans [Member] | Consumer Installment Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 184 | 218 | 426 |
Covered Loans [Member] | Consumer Installment Loans [Member] | 20 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 51 | 77 | 151 |
Covered Loans [Member] | Consumer Installment Loans [Member] | 23 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 51 | ||
Covered Loans [Member] | Consumer Installment Loans [Member] | 25 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 37 | 37 | 42 |
Covered Loans [Member] | Consumer Installment Loans [Member] | 30 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | 9 | 3 | |
Covered Loans [Member] | Consumer Installment Loans [Member] | 40 [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans portfolio by risk grade | $87 | $104 | $179 |
Loans_Summary_of_Troubled_Debt
Loans - Summary of Troubled Debt Restructuring by Loan Class, Defaulted under Restructured Terms (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 14 | 10 | |
Troubled debt restructuring loans | $1,519 | $1,212 | $2,241 |
Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Troubled debt restructuring loans | 5 | ||
Real Estate - Construction & Development [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 2 | ||
Troubled debt restructuring loans | 40 | ||
Commercial And Farmland [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 3 | 4 | |
Troubled debt restructuring loans | 746 | 1,897 | |
Real Estate - Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 6 | 3 | |
Troubled debt restructuring loans | 748 | 280 | |
Consumer Installment Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 4 | 1 | |
Troubled debt restructuring loans | $20 | $24 |
Loans_Summary_of_Troubled_Debt1
Loans - Summary of Troubled Debt Restructurings by Loan Class, Excluding Purchased Non-Covered and Covered Loans (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 14 | 10 | |
Troubled debt restructuring loans | $1,519 | $1,212 | $2,241 |
Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Troubled debt restructuring loans | 5 | ||
Real Estate - Construction & Development [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 2 | ||
Troubled debt restructuring loans | 40 | ||
Commercial And Farmland [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 3 | 4 | |
Troubled debt restructuring loans | 746 | 1,897 | |
Real Estate - Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 6 | 3 | |
Troubled debt restructuring loans | 748 | 280 | |
Consumer Installment Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 4 | 1 | |
Troubled debt restructuring loans | 20 | 24 | |
Excluding Purchased Non-Covered and Covered Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt restructuring loans | 12,935 | 12,759 | 18,848 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 86 | 92 | 80 |
Troubled debt restructuring loans | 12,935 | 12,759 | 18,848 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Accruing Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 5 | 6 | 4 |
Troubled debt restructuring loans | 277 | 290 | 711 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Accruing Loans [Member] | Real Estate - Construction & Development [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 9 | 9 | 11 |
Troubled debt restructuring loans | 789 | 679 | 1,953 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Accruing Loans [Member] | Commercial And Farmland [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 20 | 19 | 19 |
Troubled debt restructuring loans | 7,309 | 6,477 | 8,733 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Accruing Loans [Member] | Real Estate - Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 42 | 47 | 35 |
Troubled debt restructuring loans | 4,513 | 5,258 | 7,364 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Accruing Loans [Member] | Consumer Installment Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 10 | 11 | 11 |
Troubled debt restructuring loans | 47 | 55 | 87 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 34 | 32 | 18 |
Troubled debt restructuring loans | 997 | 2,523 | 2,365 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Non-Accruing Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 3 | 2 | 2 |
Troubled debt restructuring loans | 17 | 13 | 40 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Non-Accruing Loans [Member] | Real Estate - Construction & Development [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 4 | 5 | 1 |
Troubled debt restructuring loans | 90 | 228 | 29 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Non-Accruing Loans [Member] | Commercial And Farmland [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | 3 | 5 |
Troubled debt restructuring loans | 64 | 724 | 1,316 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Non-Accruing Loans [Member] | Real Estate - Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 11 | 11 | 8 |
Troubled debt restructuring loans | 736 | 1,485 | 961 |
Excluding Purchased Non-Covered and Covered Loans [Member] | Non-Accruing Loans [Member] | Consumer Installment Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 15 | 11 | 2 |
Troubled debt restructuring loans | $90 | $73 | $19 |
Loans_Summary_of_Troubled_Debt2
Loans - Summary of Troubled Debt Restructurings by Loan Class (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 14 | 10 | |
Troubled debt restructuring loans | $1,519 | $1,212 | $2,241 |
Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Troubled debt restructuring loans | 5 | ||
Real Estate - Construction & Development [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 2 | ||
Troubled debt restructuring loans | 40 | ||
Commercial And Farmland [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 3 | 4 | |
Troubled debt restructuring loans | 746 | 1,897 | |
Real Estate - Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 6 | 3 | |
Troubled debt restructuring loans | 748 | 280 | |
Consumer Installment Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 4 | 1 | |
Troubled debt restructuring loans | 20 | 24 | |
Purchased Non-Covered Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt restructuring loans | 1,526 | 1,212 | 5,191 |
Purchased Non-Covered Loans [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 10 | 9 | 22 |
Troubled debt restructuring loans | 1,526 | 1,212 | 5,191 |
Purchased Non-Covered Loans [Member] | Accruing Loans [Member] | Real Estate - Construction & Development [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | 1 | 7 |
Troubled debt restructuring loans | 328 | 317 | 2,443 |
Purchased Non-Covered Loans [Member] | Accruing Loans [Member] | Commercial And Farmland [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 3 | 1 | 2 |
Troubled debt restructuring loans | 720 | 346 | 961 |
Purchased Non-Covered Loans [Member] | Accruing Loans [Member] | Real Estate - Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 5 | 6 | 12 |
Troubled debt restructuring loans | 477 | 547 | 1,779 |
Purchased Non-Covered Loans [Member] | Accruing Loans [Member] | Consumer Installment Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | 1 | 1 |
Troubled debt restructuring loans | 1 | 2 | 8 |
Purchased Non-Covered Loans [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 5 | 1 | 11 |
Troubled debt restructuring loans | 167 | 25 | 1,268 |
Purchased Non-Covered Loans [Member] | Non-Accruing Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | 1 | |
Troubled debt restructuring loans | 1 | 6 | |
Purchased Non-Covered Loans [Member] | Non-Accruing Loans [Member] | Real Estate - Construction & Development [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 2 | ||
Troubled debt restructuring loans | 264 | ||
Purchased Non-Covered Loans [Member] | Non-Accruing Loans [Member] | Commercial And Farmland [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | 2 | |
Troubled debt restructuring loans | 69 | 726 | |
Purchased Non-Covered Loans [Member] | Non-Accruing Loans [Member] | Real Estate - Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 2 | 1 | 4 |
Troubled debt restructuring loans | 93 | 25 | 255 |
Purchased Non-Covered Loans [Member] | Non-Accruing Loans [Member] | Consumer Installment Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | 2 | |
Troubled debt restructuring loans | $4 | $17 |
Loans_Summary_of_Trouble_Debt_
Loans - Summary of Trouble Debt Restructuring by Loan Class of Covered Loans (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 14 | 10 | |
Troubled debt restructuring loans | $1,519 | $1,212 | $2,241 |
Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Troubled debt restructuring loans | 5 | ||
Real Estate - Construction & Development [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 2 | ||
Troubled debt restructuring loans | 40 | ||
Commercial And Farmland [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 3 | 4 | |
Troubled debt restructuring loans | 746 | 1,897 | |
Real Estate - Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 6 | 3 | |
Troubled debt restructuring loans | 748 | 280 | |
Consumer Installment Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 4 | 1 | |
Troubled debt restructuring loans | 20 | 24 | |
Covered Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt restructuring loans | 23,300 | 24,600 | 27,800 |
Covered Loans [Member] | Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 115 | 117 | 103 |
Troubled debt restructuring loans | 20,721 | 22,619 | 22,775 |
Covered Loans [Member] | Accruing Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | 2 | 1 |
Troubled debt restructuring loans | 3 | 40 | 14 |
Covered Loans [Member] | Accruing Loans [Member] | Real Estate - Construction & Development [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 3 | 4 | 3 |
Troubled debt restructuring loans | 2,819 | 3,037 | 3,254 |
Covered Loans [Member] | Accruing Loans [Member] | Commercial And Farmland [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 13 | 14 | 14 |
Troubled debt restructuring loans | 6,461 | 8,079 | 7,461 |
Covered Loans [Member] | Accruing Loans [Member] | Real Estate - Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 97 | 96 | 85 |
Troubled debt restructuring loans | 11,436 | 11,460 | 12,046 |
Covered Loans [Member] | Accruing Loans [Member] | Consumer Installment Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | 1 | |
Troubled debt restructuring loans | 2 | 3 | |
Covered Loans [Member] | Non-Accruing Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 15 | 17 | 27 |
Troubled debt restructuring loans | 2,570 | 1,942 | 5,025 |
Covered Loans [Member] | Non-Accruing Loans [Member] | Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 2 | 2 | 5 |
Troubled debt restructuring loans | 68 | ||
Covered Loans [Member] | Non-Accruing Loans [Member] | Real Estate - Construction & Development [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | 2 | 5 |
Troubled debt restructuring loans | 13 | 29 | 49 |
Covered Loans [Member] | Non-Accruing Loans [Member] | Commercial And Farmland [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 2 | 5 | 7 |
Troubled debt restructuring loans | 1,736 | 1,082 | 3,872 |
Covered Loans [Member] | Non-Accruing Loans [Member] | Real Estate - Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 10 | 8 | 9 |
Troubled debt restructuring loans | 821 | 831 | 1,031 |
Covered Loans [Member] | Non-Accruing Loans [Member] | Consumer Installment Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of contracts | 1 | ||
Troubled debt restructuring loans | $5 |
Loans_Schedule_of_Allowances_f
Loans - Schedule of Allowances for Loan Losses by Portfolio Segment (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | $21,157 | $22,377 | $22,377 |
Provision for loan losses | 1,069 | 1,726 | 5,648 |
Loans charged off | -1,648 | -2,104 | -9,560 |
Recoveries of loans previously charged off | 1,274 | 745 | 2,692 |
Ending balance | 21,852 | 22,744 | 21,157 |
Loans individually evaluated for impairment | 4,817 | 4,076 | 3,890 |
Loans collectively evaluated for impairment | 17,035 | 18,668 | 17,267 |
Individually evaluated for impairment | 28,987 | 38,088 | 27,649 |
Collectively evaluated for impairment | 2,631,383 | 2,208,496 | 2,563,652 |
Acquired with deteriorated credit quality | 227,887 | 258,761 | 244,098 |
Ending balance | 2,888,257 | 2,505,345 | 2,835,399 |
Purchased Non-Covered Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for loan losses | -432 | 84 | |
Loans charged off | -230 | -84 | |
Recoveries of loans previously charged off | 662 | ||
Collectively evaluated for impairment | 552,837 | 383,709 | 579,172 |
Acquired with deteriorated credit quality | 90,255 | 53,560 | 95,067 |
Ending balance | 29,616 | 35,136 | 33,989 |
Covered Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for loan losses | 401 | 225 | 843 |
Loans charged off | -563 | -498 | -1,851 |
Recoveries of loans previously charged off | 162 | 273 | 1,008 |
Collectively evaluated for impairment | 108,113 | 167,493 | 122,248 |
Acquired with deteriorated credit quality | 137,632 | 205,201 | 149,031 |
Ending balance | 97,212 | 164,467 | 95,967 |
Commercial, Financial & Agricultural [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 2,004 | 1,823 | 1,823 |
Provision for loan losses | -498 | 1,090 | 1,427 |
Loans charged off | -392 | -743 | -1,567 |
Recoveries of loans previously charged off | 285 | 49 | 321 |
Ending balance | 1,399 | 2,219 | 2,004 |
Loans individually evaluated for impairment | 230 | 318 | 375 |
Loans collectively evaluated for impairment | 1,169 | 1,901 | 1,629 |
Individually evaluated for impairment | 324 | 2,837 | 490 |
Collectively evaluated for impairment | 334,593 | 267,734 | 319,164 |
Ending balance | 334,917 | 270,571 | 319,654 |
Commercial, Financial & Agricultural [Member] | Purchased Non-Covered Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending balance | 1,331 | 233 | 1,366 |
Commercial, Financial & Agricultural [Member] | Covered Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending balance | 13,512 | 16,020 | 14,385 |
Real Estate - Construction & Development [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 5,030 | 5,538 | 5,538 |
Provision for loan losses | 347 | 337 | -265 |
Loans charged off | -97 | -65 | -592 |
Recoveries of loans previously charged off | 31 | 108 | 349 |
Ending balance | 5,311 | 5,918 | 5,030 |
Loans individually evaluated for impairment | 627 | 631 | 743 |
Loans collectively evaluated for impairment | 4,684 | 5,287 | 4,287 |
Individually evaluated for impairment | 2,982 | 3,817 | 3,709 |
Collectively evaluated for impairment | 175,586 | 145,726 | 157,798 |
Ending balance | 178,568 | 149,543 | 161,507 |
Real Estate - Construction & Development [Member] | Purchased Non-Covered Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending balance | 2,153 | 6,173 | 5,161 |
Real Estate - Construction & Development [Member] | Covered Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending balance | 24,503 | 50,876 | 27,289 |
Commercial And Farmland [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 8,823 | 8,393 | 8,393 |
Provision for loan losses | -56 | 622 | 3,444 |
Loans charged off | -12 | -533 | -3,288 |
Recoveries of loans previously charged off | 15 | 143 | 274 |
Ending balance | 8,770 | 8,625 | 8,823 |
Loans individually evaluated for impairment | 2,123 | 1,994 | 1,861 |
Loans collectively evaluated for impairment | 6,647 | 6,631 | 6,962 |
Individually evaluated for impairment | 14,557 | 16,832 | 14,546 |
Collectively evaluated for impairment | 932,717 | 819,398 | 892,978 |
Ending balance | 947,274 | 836,230 | 907,524 |
Commercial And Farmland [Member] | Purchased Non-Covered Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending balance | 13,911 | 12,966 | 15,007 |
Commercial And Farmland [Member] | Covered Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending balance | 35,493 | 66,557 | 31,309 |
Real Estate - Residential [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 4,129 | 6,034 | 6,034 |
Provision for loan losses | 1,090 | -656 | -452 |
Loans charged off | -268 | -181 | -1,707 |
Recoveries of loans previously charged off | 57 | 83 | 254 |
Ending balance | 5,008 | 5,280 | 4,129 |
Loans individually evaluated for impairment | 1,837 | 1,133 | 911 |
Loans collectively evaluated for impairment | 3,171 | 4,147 | 3,218 |
Individually evaluated for impairment | 11,124 | 14,602 | 8,904 |
Collectively evaluated for impairment | 484,919 | 378,399 | 447,202 |
Ending balance | 496,043 | 393,001 | 456,106 |
Real Estate - Residential [Member] | Purchased Non-Covered Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending balance | 12,183 | 15,524 | 12,283 |
Real Estate - Residential [Member] | Covered Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Ending balance | 23,585 | 30,824 | 22,860 |
Consumer Installment Loans and Other [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 1,171 | 589 | 589 |
Provision for loan losses | 217 | 108 | 567 |
Loans charged off | -86 | -84 | -471 |
Recoveries of loans previously charged off | 62 | 89 | 486 |
Ending balance | 1,364 | 702 | 1,171 |
Loans collectively evaluated for impairment | 1,364 | 702 | 1,171 |
Collectively evaluated for impairment | 42,618 | 46,037 | 45,090 |
Ending balance | $42,618 | $46,037 | $45,090 |
Assets_Acquired_in_FDICAssiste2
Assets Acquired in FDIC-Assisted Acquisitions - Additional Information (Detail) (USD $) | 3 Months Ended | 34 Months Ended | |||
Mar. 31, 2015 | Jul. 31, 2012 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Acquisition | |||||
Business Combinations [Abstract] | |||||
Number of FDIC-assisted acquisitions participation | 10 | ||||
FDIC loss-share receivable | $23,312,000 | $31,351,000 | $53,181,000 | $65,441,000 | |
Federal funds purchased and securities sold under agreements to repurchase | 16,100,000 | ||||
Business acquisition, Charge-offs and expenses | 14,000,000 | ||||
Clawback liability | $6,800,000 | $6,200,000 | $5,200,000 |
Assets_Acquired_in_FDICAssiste3
Assets Acquired in FDIC-Assisted Acquisitions - Schedule of Acquisition Details (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
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 Bank ("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 $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
Covered Assets [Line Items] | ||||
Covered loans | $265,488 | $414,855 | $296,724 | |
Less: Fair value adjustments | 19,743 | 42,161 | 25,445 | |
Total covered loans | 245,745 | 372,694 | 271,279 | |
OREO | 18,531 | 52,092 | 23,408 | |
Less: Fair value adjustments | 2,442 | 9,456 | 3,501 | |
Total covered OREO | 16,089 | 42,636 | 19,907 | |
Total covered assets | 261,834 | 415,330 | 291,186 | |
FDIC loss-share receivable (payable) | 23,312 | 53,181 | 31,351 | 65,441 |
American United Bank (AUB) [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 13,629 | |||
Less: Fair value adjustments | 220 | |||
Total covered loans | 13,409 | |||
OREO | 4,264 | |||
Total covered OREO | 4,264 | |||
Total covered assets | 17,673 | |||
FDIC loss-share receivable (payable) | 248 | 1,190 | 188 | |
United Security Bank (USB) [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 4,031 | 15,668 | 4,350 | |
Less: Fair value adjustments | 19 | 935 | 150 | |
Total covered loans | 4,012 | 14,733 | 4,200 | |
OREO | 165 | 3,366 | 165 | |
Less: Fair value adjustments | 135 | |||
Total covered OREO | 165 | 3,231 | 165 | |
Total covered assets | 4,177 | 17,964 | 4,365 | |
FDIC loss-share receivable (payable) | -1,216 | 535 | -1,197 | |
Satilla Community Bank (SCB) [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 23,803 | 33,896 | 26,686 | |
Less: Fair value adjustments | 512 | 1,274 | 602 | |
Total covered loans | 23,291 | 32,622 | 26,084 | |
OREO | 2,474 | 3,122 | 2,849 | |
Less: Fair value adjustments | 389 | 303 | 389 | |
Total covered OREO | 2,085 | 2,819 | 2,460 | |
Total covered assets | 25,376 | 35,441 | 28,544 | |
FDIC loss-share receivable (payable) | 2,093 | 2,781 | 1,828 | |
First Bank of Jacksonville (FBJ) [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 19,409 | 24,281 | 21,243 | |
Less: Fair value adjustments | 1,539 | 2,768 | 1,825 | |
Total covered loans | 17,870 | 21,513 | 19,418 | |
OREO | 427 | 1,850 | 632 | |
Less: Fair value adjustments | 56 | 253 | ||
Total covered OREO | 371 | 1,597 | 632 | |
Total covered assets | 18,241 | 23,110 | 20,050 | |
FDIC loss-share receivable (payable) | 1,366 | 3,034 | 1,885 | |
Darby Bank & Trust (DBT) [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 53,832 | 100,909 | 64,338 | |
Less: Fair value adjustments | 4,740 | 13,138 | 6,437 | |
Total covered loans | 49,092 | 87,771 | 57,901 | |
OREO | 5,716 | 12,250 | 6,655 | |
Less: Fair value adjustments | 381 | 1,092 | 514 | |
Total covered OREO | 5,335 | 11,158 | 6,141 | |
Total covered assets | 54,427 | 98,929 | 64,042 | |
FDIC loss-share receivable (payable) | 3,576 | 14,947 | 6,860 | |
Tifton Banking Company (TBC) [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 21,068 | 31,576 | 23,487 | |
Less: Fair value adjustments | 570 | 2,119 | 1,117 | |
Total covered loans | 20,498 | 29,457 | 22,370 | |
OREO | 1,698 | 4,681 | 2,388 | |
Less: Fair value adjustments | 162 | 761 | 367 | |
Total covered OREO | 1,536 | 3,920 | 2,021 | |
Total covered assets | 22,034 | 33,377 | 24,391 | |
FDIC loss-share receivable (payable) | 1,545 | 3,425 | 3,287 | |
High Trust Bank (HTB) [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 48,384 | 61,560 | 52,699 | |
Less: Fair value adjustments | 4,331 | 6,630 | 5,120 | |
Total covered loans | 44,053 | 54,930 | 47,579 | |
OREO | 2,885 | 7,263 | 3,670 | |
Less: Fair value adjustments | 938 | 2,349 | 1,283 | |
Total covered OREO | 1,947 | 4,914 | 2,387 | |
Total covered assets | 46,000 | 59,844 | 49,966 | |
FDIC loss-share receivable (payable) | 7,069 | 8,540 | 6,459 | |
One Georgia Bank (OGB) [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 38,699 | 55,569 | 42,971 | |
Less: Fair value adjustments | 2,409 | 4,653 | 3,785 | |
Total covered loans | 36,290 | 50,916 | 39,186 | |
OREO | 1,435 | 8,169 | 2,244 | |
Less: Fair value adjustments | 39 | 2,984 | 39 | |
Total covered OREO | 1,396 | 5,185 | 2,205 | |
Total covered assets | 37,686 | 56,101 | 41,391 | |
FDIC loss-share receivable (payable) | 2,748 | 6,815 | 3,906 | |
Central Bank of Georgia (CBG) [Member] | ||||
Covered Assets [Line Items] | ||||
Covered loans | 56,262 | 77,767 | 60,950 | |
Less: Fair value adjustments | 5,623 | 10,424 | 6,409 | |
Total covered loans | 50,639 | 67,343 | 54,541 | |
OREO | 3,731 | 7,127 | 4,805 | |
Less: Fair value adjustments | 477 | 1,579 | 909 | |
Total covered OREO | 3,254 | 5,548 | 3,896 | |
Total covered assets | 53,893 | 72,891 | 58,437 | |
FDIC loss-share receivable (payable) | $5,883 | $11,914 | $8,135 |
Assets_Acquired_in_FDICAssiste5
Assets Acquired in FDIC-Assisted Acquisitions - Rollforward of Acquired Covered Loans (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Covered Loans [Line Items] | |||
Balance, beginning of year | $15,578 | $25,493 | $25,493 |
Accretion | 4,466 | 9,767 | 22,188 |
Transfer to covered other real estate owned | -1,094 | -68 | |
Balance, end of year | 12,965 | 16,091 | 15,578 |
Loans with Deterioration of Credit Quality [Member] | |||
Covered Loans [Line Items] | |||
Balance, beginning of year | 271,279 | 390,237 | 390,237 |
Charge-offs | -2,812 | -4,326 | -9,255 |
Accretion | 4,466 | 9,767 | 22,188 |
Transfer to covered other real estate owned | -1,230 | -4,925 | -13,650 |
Transfer to purchased, non-covered loans due to loss share expiration | -15,475 | ||
Payments received | -25,958 | -18,070 | -102,996 |
Other | 11 | 230 | |
Balance, end of year | $245,745 | $372,694 | $271,279 |
Assets_Acquired_in_FDICAssiste6
Assets Acquired in FDIC-Assisted Acquisitions - Schedule of Changes in Accretable Discounts Related Acquired Loans (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Business Combinations [Abstract] | |||
Balance, beginning of year | $15,578 | $25,493 | $25,493 |
Accretion | -4,466 | -9,767 | -22,188 |
Transfers between non-accretable and accretable discounts, net | 1,853 | 365 | 12,273 |
Balance, end of year | $12,965 | $16,091 | $15,578 |
Assets_Acquired_in_FDICAssiste7
Assets Acquired in FDIC-Assisted Acquisitions - Changes in FDIC Shared-Loss Receivable (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Business Combinations [Abstract] | |||
Beginning balance | $31,351 | $65,441 | $65,441 |
Payments received from FDIC | -6,390 | -6,773 | -22,494 |
Accretion (amortization) | -3,666 | -8,203 | -18,449 |
Changes in clawback liability | -569 | -164 | -1,222 |
Charge-offs on covered loans | 1,602 | 2,369 | 3,372 |
Write downs of covered other real estate | 804 | 876 | 4,771 |
Reimbursable expenses on covered assets | 651 | 483 | 1,078 |
Other activity, net | -471 | -848 | -1,146 |
Ending balance | $23,312 | $53,181 | $31,351 |
Other_Real_Estate_Owned_Summar
Other Real Estate Owned - Summary of Activity in Other Real Estate Owned (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Real Estate Owned, Disclosure of Detailed Components [Abstract] | |||
Beginning balance | $33,160 | $33,351 | $33,351 |
Loans transferred to other real estate owned | 2,444 | 2,554 | 11,972 |
Net gains (losses) on sale and write-downs | -958 | -750 | -4,585 |
Sales proceeds | -2,307 | -1,316 | -7,578 |
Ending balance | $32,339 | $33,839 | $33,160 |
Other_Real_Estate_Owned_Summar1
Other Real Estate Owned - Summary of Activity in Purchased Non-Covered Other Real Estate Owned (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Real Estate Owned, Disclosure of Detailed Components [Abstract] | |||
Beginning balance | $15,585 | $4,276 | $4,276 |
Loans transferred to other real estate owned | 1,094 | 68 | 4,160 |
Acquired in acquisitions | 8,864 | ||
Transfer from covered other real estate owned due to loss share expiration | 1,226 | ||
Net gains (losses) on sale and write-downs | 129 | 49 | 828 |
Sales proceeds | -2,990 | -529 | -3,769 |
Ending balance | $13,818 | $3,864 | $15,585 |
Other_Real_Estate_Owned_Summar2
Other Real Estate Owned - Summary of Activity in Covered Other Real Estate Owned (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Real Estate Owned, Disclosure of Detailed Components [Abstract] | |||
Beginning balance | $19,907 | $45,893 | $45,893 |
Loans transferred to other real estate owned | 1,230 | 4,925 | 13,650 |
Transfer from covered other real estate owned due to loss share expiration | -1,226 | ||
Net gains (losses) on sale and write-downs | -1,005 | -1,095 | -5,965 |
Sales proceeds | -4,043 | -7,087 | -32,445 |
Ending balance | $16,089 | $42,636 | $19,907 |
Weighted_Average_Shares_Outsta2
Weighted Average Shares Outstanding - Summary of Weighted Average Number of Shares (Detail) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Earnings Per Share [Abstract] | ||
Basic shares outstanding | 30,443 | 25,144 |
Plus: Dilutive effect of ISOs | 124 | 95 |
Plus: Dilutive effect of Restricted Grants | 229 | 334 |
Diluted shares outstanding | 30,796 | 25,573 |
Weighted_Average_Shares_Outsta3
Weighted Average Shares Outstanding - Additional Information (Detail) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Earnings Per Share [Abstract] | ||
Anti-dilutive common shares excluded | 0 | 268,000 |
Other_Borrowings_Additional_In
Other Borrowings - Additional Information (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Debt Disclosure [Abstract] | |||
Outstanding borrowings | $43,851,000 | $78,881,000 | $59,677,000 |
Borrowing available with FHLB | 275,500,000 | ||
Credit arrangements for federal funds purchase | 50,000,000 | ||
Loans pledged at federal reserve discount window | 581,800,000 | ||
Loans pledged at federal reserve discount window available for borrowing | $409,700,000 |
Other_Borrowings_Summary_of_Ot
Other Borrowings - Summary of Other Borrowings (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Total other borrowings | $43,851 | $78,881 | $59,677 |
Daily Rate Credit From Federal Home Loan Bank [Member] | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Debt instrument advances | 35,000 | 25,000 | |
Revolving Credit Facility 1 [Member] | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Debt instrument advances | 24,000 | 24,000 | |
Revolving Credit Facility [Member] | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Debt instrument advances | 10,000 | ||
Correspondent Bank Advances [Member] | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Advance from correspondent bank with a fixed interest rate of 4.50%, due November 27, 2017, secured by subsidiary bank loan receivable | 4,851 | 4,881 | 4,963 |
Subordinated Debt One [Member] | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Subordinated debt issued | 5,000 | ||
Subordinated Debt Two [Member] | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Subordinated debt issued | $15,000 | $15,000 | $14,714 |
Other_Borrowings_Summary_of_Ot1
Other Borrowings - Summary of Other Borrowings (Parenthetical) (Detail) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Daily Rate Credit From Federal Home Loan Bank [Member] | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Debt instrument effective rate | 0.36% | 0.36% | |
Revolving Credit Facility 1 [Member] | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Interest rate description | 90-day LIBOR plus 3.50% (3.73% at March 31, 2015 and December 31, 2014) | ||
Interest rate, margin to be added | 3.50% | 3.50% | |
Debt instrument effective rate | 3.73% | 3.73% | |
Debt instrument, maturity period | 2016-08 | 2016-08 | |
Revolving Credit Facility [Member] | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Interest rate description | 90-day LIBOR plus 4.00% (4.24% at March 31, 2014) | ||
Interest rate, margin to be added | 4.00% | ||
Debt instrument effective rate | 4.24% | ||
Debt instrument, maturity period | 2016-08 | ||
Correspondent Bank Advances [Member] | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Debt instrument effective rate | 4.50% | 4.50% | 4.50% |
Maturity period of advances | 27-Nov-17 | 27-Nov-17 | 27-Nov-17 |
Subordinated Debt One [Member] | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Interest rate description | 90-day LIBOR plus 1.60% (1.84% at March 31, 2014) | ||
Interest rate, margin to be added | 1.60% | ||
Debt instrument effective rate | 1.84% | ||
Debt instrument, maturity period | 2016-06 | ||
Subordinated Debt Two [Member] | |||
Federal Home Loan Bank Borrowings By Year Of Maturity And Applicable Interest Rate [Line Items] | |||
Interest rate description | 90-day LIBOR plus 1.75% (2.02% at March 31, 2015, 1.99% at December 31, 2014 and 1.98% at March 31, 2014) | ||
Interest rate, margin to be added | 1.75% | 1.75% | 1.75% |
Debt instrument effective rate | 2.02% | 1.98% | 1.99% |
Debt instrument, maturity period | 2016-09 | 2016-09 | 2016-09 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Summary of Company's Commitments (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Commitments and Contingencies Disclosure [Abstract] | |||
Commitments to extend credit | $328,191 | $293,517 | $235,367 |
Unused lines of credit | 143,962 | 49,567 | 35,705 |
Financial standby letters of credit | 10,548 | 9,683 | 7,961 |
Mortgage interest rate lock commitments | $91,482 | $38,868 | $64,759 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Commitments and Contingencies Disclosure [Abstract] | |
Litigation settlement against the company | ($2.90) |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income - Summary of Accumulated Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | $6,098 | ($294) |
Reclassification for gains included in net income | -8 | -4 |
Current year changes | 263 | 2,672 |
Ending balance | 6,353 | 2,374 |
Unrealized Gain (Loss) on Derivatives [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | 508 | 1,397 |
Current year changes | -387 | -266 |
Ending balance | 121 | 1,131 |
Unrealized Gain (Loss) on Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | 5,590 | -1,691 |
Reclassification for gains included in net income | -8 | -4 |
Current year changes | 650 | 2,938 |
Ending balance | $6,232 | $1,243 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Fair Value Disclosures [Abstract] | ||
Net gain from change in fair value of mortgage loans | $2.60 | $1.10 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Difference Between Fair Value and Principal Balance for Mortgage Loans Held for Sale Measured at Fair Value (Detail) (Mortgage Loans Held for Sale [Member], USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Mortgage Loans Held for Sale [Member] | |||
Assets And Liabilities Carrying Value And Fair Value [Line Items] | |||
Aggregate Fair Value of Mortgage Loans held for sale | $73,796 | $94,759 | $51,693 |
Aggregate Unpaid Principal Balance | 70,905 | 90,418 | 49,959 |
Past due loans of 90 days or more | 0 | 0 | 0 |
Nonaccrual loans | $0 | $0 | $0 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Fair Value Measurements of Assets and Liabilities Measured on Recurring Basis (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring assets at fair value | $688,132 | $638,321 | $510,934 |
Recurring liabilities at fair value | 2,353 | 1,564 | 675 |
US Government Agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring assets at fair value | 14,984 | 14,678 | 14,145 |
State, County and Municipal Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring assets at fair value | 159,064 | 141,375 | 111,574 |
Corporate Debt Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring assets at fair value | 10,935 | 11,040 | 10,383 |
Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring assets at fair value | 425,347 | 374,712 | 320,611 |
Mortgage Loans Held for Sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring assets at fair value | 73,796 | 94,759 | 51,693 |
Mortgage Banking Derivative Instruments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring assets at fair value | 4,006 | 1,757 | 2,528 |
Derivative Financial Instruments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring liabilities at fair value | 1,805 | 1,315 | 675 |
Mortgage Banking Derivatives Instruments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring liabilities at fair value | 548 | 249 | |
Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring assets at fair value | 8,248 | ||
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 | 8,248 | ||
Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring assets at fair value | 685,632 | 627,573 | 508,934 |
Recurring liabilities at fair value | 2,353 | 1,564 | 675 |
Level 2 [Member] | US Government Agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring assets at fair value | 14,984 | 14,678 | 14,145 |
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 | 159,064 | 141,375 | 111,574 |
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 | 8,435 | 8,540 | 8,383 |
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 | 425,347 | 366,464 | 320,611 |
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 | 73,796 | 94,759 | 51,693 |
Level 2 [Member] | Mortgage Banking Derivative Instruments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring assets at fair value | 4,006 | 1,757 | 2,528 |
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 | 1,805 | 1,315 | 675 |
Level 2 [Member] | Mortgage Banking Derivatives Instruments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring liabilities at fair value | 548 | 249 | |
Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Recurring assets at fair value | 2,500 | 2,500 | 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 | $2,500 | $2,500 | $2,000 |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments - Summary of Fair Value Measurements of Assets Measured at Fair Value on Non-Recurring Basis (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Nonrecurring assets at fair value | $58,774 | $65,971 | $87,753 |
Impaired Loans Carried at Fair Value [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Nonrecurring assets at fair value | 28,867 | 30,479 | 41,253 |
Purchased Non-Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Nonrecurring assets at fair value | 13,818 | 15,585 | 3,864 |
Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Nonrecurring assets at fair value | 16,089 | 19,907 | 42,636 |
Level 3 [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Nonrecurring assets at fair value | 58,774 | 65,971 | 87,753 |
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 | 28,867 | 30,479 | 41,253 |
Level 3 [Member] | Purchased Non-Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Nonrecurring assets at fair value | 13,818 | 15,585 | 3,864 |
Level 3 [Member] | Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Nonrecurring assets at fair value | $16,089 | $19,907 | $42,636 |
Fair_Value_of_Financial_Instru6
Fair Value of Financial Instruments - Summary of Significant Unobservable Inputs Used in Fair Value Measurement of Level 3 Assets and Liabilities (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Disclosure, Nonrecurring | 58,774 | 87,753 | 65,971 |
Investment securities available for sale, Recurring | 688,132 | 510,934 | 638,321 |
Purchased Non-Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Disclosure, Nonrecurring | 13,818 | 3,864 | 15,585 |
Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Disclosure, Nonrecurring | 16,089 | 42,636 | 19,907 |
Level 3 [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Disclosure, Nonrecurring | 58,774 | 87,753 | 65,971 |
Investment securities available for sale, Recurring | 2,500 | 2,000 | 2,500 |
Level 3 [Member] | Impaired Loans Carried at Fair Value [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Valuation Technique | Third party appraisals and discounted cash flows | Third party appraisals and discounted cash flows | Third party appraisals and discounted cash flows |
Level 3 [Member] | Purchased Non-Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Disclosure, Nonrecurring | 13,818 | 3,864 | 15,585 |
Valuation Technique | Third party appraisals | Third party appraisals | Third party appraisals |
Level 3 [Member] | Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Disclosure, Nonrecurring | 16,089 | 42,636 | 19,907 |
Valuation Technique | Third party appraisals | Third party appraisals | Third party appraisals |
Level 3 [Member] | Fair Value Measurement, Recurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Investment securities available for sale, Recurring | 2,500 | 2,000 | 2,500 |
Valuation Technique | Discounted par values | Discounted par values | Discounted par values |
Level 3 [Member] | Fair Value Measurement, Nonrecurring [Member] | Impaired Loans Carried at Fair Value [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Disclosure, Nonrecurring | 28,867 | 41,253 | 30,479 |
Level 3 [Member] | Fair Value Measurement, Nonrecurring [Member] | Purchased Non-Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Disclosure, Nonrecurring | 13,818 | 3,864 | 15,585 |
Level 3 [Member] | Fair Value Measurement, Nonrecurring [Member] | Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Disclosure, Nonrecurring | 16,089 | 42,636 | 19,907 |
Level 3 [Member] | Minimum [Member] | Impaired Loans Carried at Fair Value [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value inputs discount rate range | 0.00% | 0.00% | 0.00% |
Level 3 [Member] | Minimum [Member] | Purchased Non-Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value inputs discount rate range | 10.00% | 15.00% | 10.00% |
Level 3 [Member] | Minimum [Member] | Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value inputs discount rate range | 10.00% | 10.00% | 10.00% |
Level 3 [Member] | Minimum [Member] | Fair Value Measurement, Recurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value inputs discount rate range | 0.00% | 0.00% | 0.00% |
Level 3 [Member] | Maximum [Member] | Impaired Loans Carried at Fair Value [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value inputs discount rate range | 70.00% | 75.00% | 50.00% |
Level 3 [Member] | Maximum [Member] | Purchased Non-Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value inputs discount rate range | 96.00% | 57.00% | 96.00% |
Level 3 [Member] | Maximum [Member] | Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value inputs discount rate range | 70.00% | 92.00% | 90.00% |
Level 3 [Member] | Maximum [Member] | Fair Value Measurement, Recurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value inputs discount rate range | 0.00% | 0.00% | 0.00% |
Level 3 [Member] | Average Daily Balance [Member] | Impaired Loans Carried at Fair Value [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value inputs discount rate range | 24.00% | 26.00% | 20.00% |
Level 3 [Member] | Average Daily Balance [Member] | Purchased Non-Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value inputs discount rate range | 16.00% | 17.00% | 20.00% |
Level 3 [Member] | Average Daily Balance [Member] | Covered Other Real Estate Owned [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value inputs discount rate range | 9.00% | 12.00% | 11.00% |
Level 3 [Member] | Average Daily Balance [Member] | Fair Value Measurement, Recurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair value inputs discount rate range | 0.00% | 0.00% | 0.00% |
Fair_Value_of_Financial_Instru7
Fair Value of Financial Instrument - Carrying Amount and Estimated Fair Value of Financial Instruments (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Financial assets: | ||||
Cash and due from banks | $80,142 | $78,036 | $71,387 | $62,955 |
Federal funds sold and interest-bearing accounts | 126,157 | 92,323 | 48,677 | |
FDIC loss-share receivable | 23,312 | 31,351 | 53,181 | 65,441 |
Financial liabilities: | ||||
Other borrowings | 43,851 | 78,881 | 59,677 | |
Subordinated deferrable interest debentures | 65,567 | 65,325 | 55,628 | |
Carrying Value [Member] | ||||
Financial assets: | ||||
Cash and due from banks | 80,142 | 78,026 | 71,387 | |
Federal funds sold and interest-bearing accounts | 126,157 | 92,323 | 48,677 | |
Loans, net | 2,837,538 | 2,783,763 | 2,441,348 | |
FDIC loss-share receivable | 23,312 | 31,351 | 53,181 | |
Accrued interest receivable | 15,332 | 17,023 | 13,849 | |
Financial liabilities: | ||||
Deposits | 3,480,231 | 3,431,149 | 3,010,647 | |
Securities sold under agreements to repurchase | 55,520 | 73,310 | 49,974 | |
Other borrowings | 43,851 | 78,881 | 59,677 | |
Accrued interest payable | 1,177 | 1,382 | 1,357 | |
Subordinated deferrable interest debentures | 65,567 | 65,325 | 55,628 | |
Fair Value [Member] | ||||
Financial assets: | ||||
Cash and due from banks | 80,142 | 78,026 | 71,387 | |
Federal funds sold and interest-bearing accounts | 126,157 | 92,323 | 48,677 | |
Loans, net | 2,885,524 | 2,785,627 | 2,461,372 | |
FDIC loss-share receivable | 9,990 | 18,764 | 39,930 | |
Accrued interest receivable | 15,332 | 17,023 | 13,849 | |
Financial liabilities: | ||||
Deposits | 3,481,470 | 3,432,059 | 3,011,383 | |
Securities sold under agreements to repurchase | 55,520 | 73,310 | 49,974 | |
Other borrowings | 43,851 | 78,881 | 59,677 | |
Accrued interest payable | 1,177 | 1,382 | 1,357 | |
Subordinated deferrable interest debentures | 47,055 | 46,564 | 36,504 | |
Fair Value [Member] | Level 1 [Member] | ||||
Financial assets: | ||||
Cash and due from banks | 80,142 | 78,026 | 71,387 | |
Federal funds sold and interest-bearing accounts | 126,157 | 92,323 | 48,677 | |
Accrued interest receivable | 15,332 | 17,023 | 13,849 | |
Financial liabilities: | ||||
Securities sold under agreements to repurchase | 55,520 | 73,310 | 49,974 | |
Accrued interest payable | 1,177 | 1,382 | 1,357 | |
Fair Value [Member] | Level 2 [Member] | ||||
Financial liabilities: | ||||
Deposits | 3,481,470 | 3,432,059 | 3,011,383 | |
Other borrowings | 43,851 | 78,881 | 59,677 | |
Subordinated deferrable interest debentures | 47,055 | 46,564 | 36,504 | |
Fair Value [Member] | Level 3 [Member] | ||||
Financial assets: | ||||
Loans, net | 2,885,524 | 2,785,627 | 2,461,372 | |
FDIC loss-share receivable | $9,990 | $18,764 | $39,930 |
Segment_Reporting_Schedule_of_
Segment Reporting - Schedule of Financial Information with Respect to Company's Reportable Business Segments (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Segment Reporting Information [Line Items] | |||
Net interest income | $38,832 | $34,484 | |
Provision for loan losses | 1,069 | 1,726 | 5,648 |
Noninterest income | 17,575 | 12,754 | |
Noninterest expense: | |||
Salaries and employee benefits | 20,632 | 17,394 | |
Equipment and occupancy expenses | 4,554 | 4,064 | |
Data processing and telecommunications expenses | 4,260 | 3,454 | |
Other expenses | 11,381 | 8,327 | |
Total noninterest expense | 40,827 | 33,239 | |
Income before income tax expense | 14,511 | 12,273 | |
Income tax expense | 4,747 | 3,923 | |
Net income | 9,764 | 8,350 | |
Less preferred stock dividends | 286 | ||
Net income available to common shareholders | 9,764 | 8,064 | |
Total assets | 4,152,904 | 3,487,984 | 4,037,077 |
Intangible assets | 71,138 | 40,526 | |
Retail Banking Division [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 35,839 | 32,928 | |
Provision for loan losses | 927 | 1,726 | |
Noninterest income | 8,780 | 7,361 | |
Noninterest expense: | |||
Salaries and employee benefits | 15,362 | 13,577 | |
Equipment and occupancy expenses | 4,144 | 3,749 | |
Data processing and telecommunications expenses | 4,011 | 3,326 | |
Other expenses | 10,356 | 7,380 | |
Total noninterest expense | 33,873 | 28,032 | |
Income before income tax expense | 9,819 | 10,531 | |
Income tax expense | 3,105 | 3,313 | |
Net income | 6,714 | 7,218 | |
Less preferred stock dividends | 286 | ||
Net income available to common shareholders | 6,714 | 6,932 | |
Total assets | 3,839,417 | 3,315,731 | |
Intangible assets | 71,138 | 40,526 | |
Mortgage Banking Division [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 2,380 | 1,100 | |
Provision for loan losses | 142 | ||
Noninterest income | 7,883 | 5,164 | |
Noninterest expense: | |||
Salaries and employee benefits | 4,654 | 3,568 | |
Equipment and occupancy expenses | 382 | 302 | |
Data processing and telecommunications expenses | 245 | 122 | |
Other expenses | 968 | 815 | |
Total noninterest expense | 6,249 | 4,807 | |
Income before income tax expense | 3,872 | 1,457 | |
Income tax expense | 1,355 | 510 | |
Net income | 2,517 | 947 | |
Net income available to common shareholders | 2,517 | 947 | |
Total assets | 244,477 | 128,072 | |
SBA Division [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 613 | 456 | |
Noninterest income | 912 | 229 | |
Noninterest expense: | |||
Salaries and employee benefits | 616 | 249 | |
Equipment and occupancy expenses | 28 | 13 | |
Data processing and telecommunications expenses | 4 | 6 | |
Other expenses | 57 | 132 | |
Total noninterest expense | 705 | 400 | |
Income before income tax expense | 820 | 285 | |
Income tax expense | 287 | 100 | |
Net income | 533 | 185 | |
Net income available to common shareholders | 533 | 185 | |
Total assets | $69,010 | $44,181 |