Quarterly report pursuant to Section 13 or 15(d)

LOANS (Tables)

v2.4.0.6
LOANS (Tables)
 6 Months Ended
Jun. 30, 2012
Details Of Loans

The following table details the Company’s loans at June 30, 2012 and December 31, 2011:

 

    June 30,     December 31,  
    2012     2011  
    (Dollars In Thousands)  
Commercial, financial and agricultural   $ 856,823     $ 799,464  
Real estate - construction     148,486       151,218  
Real estate - mortgage:                
Owner-occupied commercial     490,204       398,601  
1-4 family mortgage     229,036       205,182  
Other mortgage     254,295       235,251  
Subtotal: Real estate - mortgage     973,535       839,034  
Consumer     43,745       41,026  
Total Loans     2,022,589       1,830,742  
Less: Allowance for loan losses     (23,239 )     (22,030 )
Net Loans   $ 1,999,350     $ 1,808,712  
                 
Commercial, financial and agricultural     42.36 %     43.67 %
Real estate - construction     7.34 %     8.26 %
Real estate - mortgage:                
Owner-occupied commercial     24.24 %     21.77 %
1-4 family mortgage     11.33 %     11.21 %
Other mortgage     12.57 %     12.85 %
Subtotal: Real estate - mortgage     48.14 %     45.83 %
Consumer     2.16 %     2.24 %
Total Loans     100.00 %     100.00 %
Loans By Credit Quality Indicator

Loans by credit quality indicator as of June 30, 2012 and December 31, 2011were as follows:

 

          Special                    
June 30, 2012   Pass     Mention     Substandard     Doubtful     Total  
    (In Thousands)  
Commercial, financial and agricultural   $ 840,432     $ 10,379     $ 6,012     $ -     $ 856,823  
Real estate - construction     117,852       8,295       22,339       -       148,486  
Real estate - mortgage:                                        
Owner-occupied commercial     477,066       7,097       6,041       -       490,204  
1-4 family mortgage     216,338       6,614       6,084       -       229,036  
other mortgage     243,987       6,884       3,424       -       254,295  
Total real estate mortgage     937,391       20,595       15,549       -       973,535  
Consumer     43,393       86       266       -       43,745  
Total   $ 1,939,068     $ 39,355     $ 44,166     $ -     $ 2,022,589  

 

          Special                    
December 31, 2011   Pass     Mention     Substandard     Doubtful     Total  
    (In Thousands)  
Commercial, financial and agricultural   $ 780,270     $ 11,775     $ 7,419     $ -     $ 799,464  
Real estate - construction     117,244       14,472       19,502       -       151,218  
Real estate - mortgage:                                        
Owner-occupied commercial     385,084       7,333       6,184       -       398,601  
1-4 family mortgage     194,447       4,835       5,900       -       205,182  
other mortgage     224,807       7,034       3,410       -       235,251  
Total real estate mortgage     804,338       19,202       15,494       -       839,034  
Consumer     40,353       96       577       -       41,026  
Total   $ 1,742,205     $ 45,545     $ 42,992     $ -     $ 1,830,742  
Loans By Performance Status

Loans by performance status as of June 30, 2012 and December 31, 2011 were as follows:

 

June 30, 2012   Performing     Nonperforming     Total  
    (In Thousands)  
Commercial, financial and agricultural   $ 856,367     $ 456     $ 856,823  
Real estate - construction     140,971       7,515       148,486  
Real estate - mortgage:                        
Owner-occupied commercial     487,247       2,957       490,204  
1-4 family mortgage     228,568       468       229,036  
other mortgage     253,602       693       254,295  
Total real estate mortgage     969,417       4,118       973,535  
Consumer     43,709       36       43,745  
Total   $ 2,010,464     $ 12,125     $ 2,022,589  

 

December 31, 2011   Performing     Nonperforming     Total  
    (In Thousands)  
Commercial, financial and agricultural   $ 798,285     $ 1,179     $ 799,464  
Real estate - construction     141,155       10,063       151,218  
Real estate - mortgage:                        
Owner-occupied commercial     397,809       792       398,601  
1-4 family mortgage     204,512       670       205,182  
other mortgage     234,558       693       235,251  
Total real estate mortgage     836,879       2,155       839,034  
Consumer     40,651       375       41,026  
Total   $ 1,816,970     $ 13,772     $ 1,830,742  
Loans By Past Due Status

Loans by past due status as of June 30, 2012 and December 31, 2011 were as follows:

 

June 30, 2012   Past Due Status (Accruing Loans)                    
                      Total Past                    
    30-59 Days     60-89 Days     90+ Days     Due     Non-Accrual     Current     Total Loans  
    (In Thousands)  
Commercial, financial and agricultural   $ 469     $ 7     $ -     $ 476     $ 456     $ 855,891     $ 856,823  
Real estate - construction     1,925       -       -       1,925       7,515       139,046       148,486  
Real estate - mortgage:                                                        
Owner-occupied commercial     -       -       -       -       2,957       487,247       490,204  
1-4 family mortgage     16       389       -       405       468       228,163       229,036  
Other mortgage     -       -       -       -       693       253,602       254,295  
Total real estate - mortgage     16       389       -       405       4,118       969,012       973,535  
Consumer     34       2       -       36       36       43,673       43,745  
Total   $ 2,444     $ 398     $ -     $ 2,842     $ 12,125     $ 2,007,622     $ 2,022,589  

 

December 31, 2011   Past Due Status (Accruing Loans)                    
                      Total Past                    
    30-59 Days     60-89 Days     90+ Days     Due     Non-Accrual     Current     Total Loans  
    (In Thousands)  
Commercial, financial and agricultural   $ -     $ -     $ -     $ -     $ 1,179     $ 798,285     $ 799,464  
Real estate - construction     2,234       -       -       2,234       10,063       138,921       151,218  
Real estate - mortgage:                                                        
Owner-occupied commercial     -       -       -       -       792       397,809       398,601  
1-4 family mortgage     2,107       -       -       2,107       670       202,405       205,182  
Other mortgage     -       -       -       -       693       234,558       235,251  
Total real estate - mortgage     2,107       -       -       2,107       2,155       834,772       839,034  
Consumer     -       84       -       84       375       40,567       41,026  
Total   $ 4,341     $ 84     $ -     $ 4,425     $ 13,772     $ 1,812,545     $ 1,830,742  
Allowance For Loan Losses By Portfolio Segment

The following table presents an analysis of the allowance for loan losses by portfolio segment as of June 30, 2012 and December 31, 2011. The total allowance for loan losses is disaggregated into those amounts associated with loans individually evaluated and those associated with loans collectively evaluated.

 

 

    Commercial,                                
    financial and     Real estate -     Real estate -                    
    agricultural     construction     mortgage     Consumer     Unallocated     Total  
    (In Thousands)  
    Three Months Ended June 30, 2012  
Allowance for loan losses:                                                
Balance at March 31, 2012   $ 6,625     $ 7,607     $ 3,893     $ 510     $ 5,027     $ 23,662  
Chargeoffs     (261 )     (2,502 )     (221 )     (537 )     -       (3,521 )
Recoveries     -       8       4       3       -       15  
Provision     147       2,469       (36 )     309       194       3,083  
Balance at June 30, 2012   $ 6,511     $ 7,582     $ 3,640     $ 285     $ 5,221     $ 23,239  

 

    Three Months Ended June 30, 2011  
Allowance for loan losses:                                                
Balance at March 31, 2011   $ 6,241     $ 6,285     $ 2,669     $ 441     $ 3,590     $ 19,226  
Chargeoffs     (310 )     (1,021 )     (15 )     (5 )     -       (1,351 )
Recoveries     -       74       1       72       -       147  
Provision     (109 )     1,130       532       43       (102 )     1,494  
Balance at June 30, 2011   $ 5,822     $ 6,468     $ 3,187     $ 551     $ 3,488     $ 19,516  

 

    Six Months Ended June 30, 2012  
Allowance for loan losses:                                                
Balance at December 31, 2011   $ 6,627     $ 6,542     $ 3,295     $ 531     $ 5,035     $ 22,030  
Chargeoffs     (548 )     (2,919 )     (281 )     (629 )     -       (4,377 )
Recoveries     100       8       6       6       -       120  
Provision     332       3,951       620       377       186       5,466  
Balance at June 30, 2012   $ 6,511     $ 7,582     $ 3,640     $ 285     $ 5,221     $ 23,239  

 

    Six Months Ended June 30, 2011  
Allowance for loan losses:                                                
Balance at December 31, 2010   $ 5,348     $ 6,373     $ 2,443     $ 749     $ 3,164     $ 18,077  
Chargeoffs     (860 )     (1,321 )     (15 )     (329 )     -       (2,525 )
Recoveries     -       165       1       73       -       239  
Provision     1,334       1,251       758       58       324       3,725  
Balance at June 30, 2011   $ 5,822     $ 6,468     $ 3,187     $ 551     $ 3,488     $ 19,516  

 

    As of June 30, 2012  
Individually Evaluated for Impairment   $ 372     $ 1,748     $ 946     $ 63     $ -     $ 3,129  
Collectively Evaluated for Impairment     6,139       5,834       2,694       222       5,221       20,110  
                                                 
Loans:                                                
Ending Balance   $ 856,823     $ 148,486     $ 973,535     $ 43,745     $ -     $ 2,022,589  
Individually Tested for Impairment     3,960       19,529       14,827       238       -       38,554  
Collectively Evaluated for Impairment   $ 852,863     $ 128,957     $ 958,708     $ 43,507     $ -     $ 1,984,035  

 

    As of December 31, 2011  
                                     
Allowance for loan losses:   $ 6,627     $ 6,542     $ 3,295     $ 531     $ 5,035     $ 22,030  
                                                 
Individually Evaluated for Impairment   $ 1,382     $ 1,533     $ 941     $ 325     $ -     $ 4,181  
Collectively Evaluated for Impairment     5,245       5,009       2,354       206       5,035       17,849  
                                                 
Loans:                                                
Ending Balance   $ 799,464     $ 151,218     $ 839,034     $ 41,026       -     $ 1,830,742  
Individually Evaluated for Impairment     5,578       16,262       14,866       547       -       37,253  
Collectively Evaluated for Impairment     793,886       134,956       824,168       40,479       -       1,793,489  
Details Of Company's Impaired Loans

The following table presents details of the Company’s impaired loans as of June 30, 2012 and December 31, 2011, respectively. Loans which have been fully charged off do not appear in the tables.

 

                      For the three months     For the six months  
                      ended June 30,     ended June 30,  
    June 30, 2012     2012     2012  
                            Interest           Interest  
          Unpaid           Average     Income     Average     Income  
    Recorded     Principal     Related     Recorded     Recognized     Recorded     Recognized  
    Investment     Balance     Allowance     Investment     in Period     Investment     in Period  
    (In Thousands)  
With no allowance recorded:                                                        
Commercial, financial and agricultural   $ 2,555     $ 2,873     $ -     $ 1,902     $ 25     $ 1,818     $ 39  
Real estate - construction     8,772       10,234       -       8,832       97       8,916       130  
Real estate - mortgage:                                                        
Owner-occupied commercial     5,735       5,735       -       5,752       42       5,769       60  
1-4 family mortgage     1,635       1,636       -       1,632       17       1,631       34  
Other mortgage     1,456       1,456       -       1,419       10       1,413       25  
Total real estate - mortgage     8,826       8,827       -       8,803       69       8,813       119  
Consumer     36       610       -       138       -       256       -  
Total with no allowance recorded     20,189       22,544       -       19,675       191       19,803       288  
                                                         
With an allowance recorded:                                                        
Commercial, financial and agricultural     1,405       1,405       372       1,418       25       1,433       47  
Real estate - construction     10,757       11,898       1,748       11,109       78       11,163       159  
Real estate - mortgage:                                                        
Owner-occupied commercial     74       74       43       80       1       82       2  
1-4 family mortgage     4,197       4,418       811       4,413       37       4,414       72  
Other mortgage     1,730       1,730       92       1,734       25       1,739       50  
Total real estate - mortgage     6,001       6,222       946       6,227       63       6,235       124  
Consumer     202       202       63       173       1       173       3  
Total with allowance recorded     18,365       19,727       3,129       18,927       167       19,004       333  
                                                         
Total Impaired Loans:                                                        
Commercial, financial and agricultural     3,960       4,278       372       3,320       50       3,251       86  
Real estate - construction     19,529       22,132       1,748       19,941       175       20,079       289  
Real estate - mortgage:                                                        
Owner-occupied commercial     5,809       5,809       43       5,832       43       5,851       62  
1-4 family mortgage     5,832       6,054       811       6,045       54       6,045       106  
Other mortgage     3,186       3,186       92       3,153       35       3,152       75  
Total real estate - mortgage     14,827       15,049       946       15,030       132       15,048       243  
Consumer     238       812       63       311       1       429       3  
Total impaired loans   $ 38,554     $ 42,271     $ 3,129     $ 38,602     $ 358     $ 38,807     $ 621  

 

 

December 31, 2011
                               
          Unpaid           Average     Interest Income  
    Recorded     Principal     Related     Recorded     Recognized in  
    Investment     Balance     Allowance     Investment     Period  
    (In Thousands)              
With no allowance recorded:                                        
Commercial, financial and agricultural   $ 1,264     $ 1,264     $ -     $ 1,501     $ 74  
Real estate - construction     11,583       12,573       -       10,406       226  
Owner-occupied commercial     2,493       2,493       -       2,523       153  
1-4 family mortgage     1,293       1,293       -       1,241       44  
Other mortgage     2,837       2,837       -       2,746       162  
Total real estate - mortgage     6,623       6,623       -       6,510       359  
Consumer     173       173       -       173       6  
Total with no allowance recorded     19,643       20,633       -       18,590       665  
                                         
With an allowance recorded:                                        
Commercial, financial and agricultural     4,314       4,314       1,382       4,156       226  
Real estate - construction     4,679       4,679       1,482       3,987       94  
Real estate - mortgage:                                        
Owner-occupied commercial     3,515       3,515       88       3,504       365  
1-4 family mortgage     4,397       4,397       904       4,484       198  
Other mortgage     331       331       -       337       22  
Total real estate - mortgage     8,243       8,243       992       8,325       585  
Consumer     374       624       325       425       -  
Total with allowance recorded     17,610       17,860       4,181       16,893       905  
                                         
Total Impaired Loans:                                        
Commercial, financial and agricultural     5,578       5,578       1,382       5,657       300  
Real estate - construction     16,262       17,252       1,482       14,393       320  
Real estate - mortgage:                                        
Owner-occupied commercial     6,008       6,008       88       6,027       518  
1-4 family mortgage     5,690       5,690       904       5,725       242  
Other mortgage     3,168       3,168       -       3,083       184  
Total real estate - mortgage     14,866       14,866       992       14,835       944  
Consumer     547       797       325       598       6  
Total impaired loans   $ 37,253     $ 38,493     $ 4,181     $ 35,483     $ 1,570  
Analysis Of Troubled Debt Restructuring

The following table presents an analysis of TDRs as of June 30, 2012 and June 30, 2011.

 

 

    June 30, 2012     June 30, 2011  
          Pre-     Post-           Pre-     Post-  
          Modification     Modification           Modification     Modification  
          Outstanding     Outstanding           Outstanding     Outstanding  
    Number of     Recorded     Recorded     Number of     Recorded     Recorded  
    Contracts     Investment     Investment     Contracts     Investment     Investment  
    (In Thousands)  
Troubled Debt Restructurings                                                
Commercial, financial and agricultural     2     $ 1,263     $ 1,263       10     $ 2,440     $ 2,440  
Real estate - construction     15       2,377       2,377       -       -       -  
Real estate - mortgage:                                                
Owner-occupied commercial     3       2,786       2,786       2       3,017       3,017  
1-4 family mortgage     5       1,709       1,709       -       -       -  
Other mortgage     1       304       304       1       340       340  
Total real estate mortgage     9       4,799       4,799       3       3,357       3,357  
Consumer     -       -       -       -       -       -  
      26     $ 8,439     $ 8,439       13     $ 5,797     $ 5,797  
                                                 
      Number of       Recorded               Number of       Recorded          
      Contracts       Investment               Contracts       Investment          
                                                 
Troubled Debt Restructurings                                                
That Subsequently Defaulted                                                
Commercial, financial and agricultural     -     $ -               -     $ -          
Real estate - construction     -       -               -       -          
Real estate - mortgage:                                                
Owner-occupied commercial     3       2,786               -       -          
1-4 family mortgage     -       -               -       -          
Other mortgage     -       -               -       -          
Total real estate - mortgage     3       2,786               -       -          
Consumer     -       -               -       -          
      3     $ 2,786               -     $ -