Quarterly report pursuant to Section 13 or 15(d)

LOANS (Tables)

v2.4.0.6
LOANS (Tables)
 3 Months Ended
Mar. 31, 2013
Text Block [Abstract]  
Details Of Loans

The following table details the Company’s loans at March 31, 2013 and December 31, 2012:

 

  March 31,     December 31,  
  2013     2012  
  (Dollars In Thousands)  
Commercial, financial and agricultural   $ 1,090,877     $ 1,030,990  
Real estate - construction     162,190       158,361  
Real estate - mortgage:                
Owner-occupied commercial     583,956       568,041  
1-4 family mortgage     244,242       235,909  
Other mortgage     340,631       323,599  
Subtotal: Real estate - mortgage     1,168,829       1,127,549  
Consumer     40,258       46,282  
Total Loans     2,462,154       2,363,182  
Less: Allowance for loan losses     (27,679 )     (26,258 )
Net Loans   $ 2,434,475     $ 2,336,924  
                 
Commercial, financial and agricultural     44.31 %     43.63 %
Real estate - construction     6.59 %     6.70 %
Real estate - mortgage:                
Owner-occupied commercial     23.72 %     24.04 %
1-4 family mortgage     9.92 %     9.98 %
Other mortgage     13.83 %     13.69 %
Subtotal: Real estate - mortgage     47.47 %     47.71 %
Consumer     1.63 %     1.96 %
Total Loans     100.00 %     100.00 %
Loans By Credit Quality Indicator

Loans by credit quality indicator as of March 31, 2013 and December 31, 2012 were as follows:

 

      Special                    
March 31, 2013   Pass     Mention     Substandard     Doubtful     Total  
  (In Thousands)  
Commercial, financial                              
and agricultural   $ 1,059,426     $ 23,746     $ 7,591     $ 114     $ 1,090,877  
Real estate - construction     129,512       5,911       26,767       -       162,190  
Real estate - mortgage:                                        
Owner-occupied                                      
commercial     570,069       2,692       11,195       -       583,956  
1-4 family mortgage     232,109       5,816       6,317       -       244,242  
Other mortgage     328,925       7,100       4,606       -       340,631  
Total real estate mortgage     1,131,103       15,608       22,118       -       1,168,829  
Consumer     39,393       708       157       -       40,258  
Total   $ 2,359,434     $ 45,973     $ 56,633     $ 114     $ 2,462,154  

 

            Special                          
December 31, 2012     Pass       Mention       Substandard       Doubtful       Total  
    (In Thousands)  
Commercial, financial                                        
and agricultural   $ 1,004,043     $ 19,172     $ 7,775     $ -     $ 1,030,990  
Real estate - construction     121,168       22,771       14,422       -       158,361  
Real estate - mortgage:                                        
Owner-occupied                                      
commercial     555,536       4,142       8,363       -       568,041  
1-4 family mortgage     223,152       6,379       6,378       -       235,909  
Other mortgage     312,473       6,674       4,452       -       323,599  
Total real estate mortgage     1,091,161       17,195       19,193       -       1,127,549  
Consumer     46,076       71       135       -       46,282  
Total   $ 2,262,448     $ 59,209     $ 41,525     $ -     $ 2,363,182
Loans By Performance Status

Loans by performance status as of March 31, 2013 and December 31, 2012 were as follows:

 

March 31, 2013   Performing     Nonperforming     Total  
  (In Thousands)  
Commercial, financial                        
and agricultural   $ 1,089,529     $ 1,348     $ 1,090,877  
Real estate - construction     146,722       18,053       164,775  
Real estate - mortgage:                        
Owner-occupied                      
commercial     580,170       3,786       583,956  
1-4 family mortgage     243,571       671       244,242  
Other mortgage     337,808       238       338,046  
Total real estate mortgage     1,161,549       4,695       1,166,244  
Consumer     40,090       168       40,258  
Total   $ 2,437,890     $ 24,264     $ 2,462,154  

 

December 31, 2012     Performing       Nonperforming       Total  
    (In Thousands)  
Commercial, financial                        
and agricultural   $ 1,030,714     $ 276     $ 1,030,990  
Real estate - construction     151,901       6,460       158,361  
Real estate - mortgage:                        
Owner-occupied                      
commercial     565,255       2,786       568,041  
1-4 family mortgage     235,456       453       235,909  
Other mortgage     323,359       240       323,599  
Total real estate mortgage     1,124,070       3,479       1,127,549  
Consumer     46,139       143       46,282  
Total   $ 2,352,824     $ 10,358     $ 2,363,182
Loans By Past Due Status

Loans by past due status as of March 31, 2013 and December 31, 2012 were as follows:

 

March 31, 2013   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   $ 65     $ 68     $ -     $ 133     $ 1,348     $ 1,089,396     $ 1,090,877  
Real estate - construction     -       298       -       298       18,053       143,839       162,190  
Real estate - mortgage:                                                        
Owner-occupied                                                      
commercial     -       717       -       717       3,786       579,453       583,956  
1-4 family mortgage     42       -       -       42       671       243,529       244,242  
Other mortgage     -       516       -       516       238       339,877       340,631  
Total real estate -                                                        
mortgage     42       1,233       -       1,275       4,695       1,162,859       1,168,829  
Consumer     53       23       33       109       135       40,014       40,258  
Total   $ 160     $ 1,622     $ 33     $ 1,815     $ 24,231     $ 2,436,108     $ 2,462,154  

 

December 31, 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   $ 1,699     $ 385     $ -     $ 2,084     $ 276     $ 1,028,630     $ 1,030,990  
Real estate - construction     -       -       -       -       6,460       151,901       158,361  
Real estate - mortgage:                                                        
Owner-occupied                                                      
commercial     1,480       10       -       1,490       2,786       563,765       568,041  
1-4 family mortgage     420       16       -       436       453       235,020       235,909  
Other mortgage     516       -       -       516       240       322,843       323,599  
Total real estate -                                                        
mortgage     2,416       26       -       2,442       3,479       1,121,628       1,127,549  
Consumer     108       -       8       116       135       46,031       46,282  
Total   $ 4,223     $ 411     $ 8     $ 4,642     $ 10,350     $ 2,348,190     $ 2,363,182
Changes In Allowance For Loan Losses Segregated By Loan Type

The following table presents an analysis of the allowance for loan losses by portfolio segment as of March 31, 2013 and December 31, 2012, and changes in the allowance for loan losses for the three months ended March 31, 2013 and March 31, 2012. 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 -         Qualitative        
  agricultural     construction     mortgage     Consumer     Factors     Total  
  (In Thousands)  
  Three Months Ended March 31, 2013  
Allowance for loan losses:                                                
Balance at December 31, 2012   $ 8,233     $ 6,511     $ 4,912     $ 199     $ 6,403     $ 26,258  
Chargeoffs     (887 )     (1,990 )     -       (1 )     -       (2,878 )
Recoveries     6       7       -       2       -       15  
Provision     1,599       2,114       825       (36 )     (218 )     4,284  
Balance at March 31, 2013   $ 8,951     $ 6,642     $ 5,737     $ 164     $ 6,185     $ 27,679  

 

  Three Months Ended March 31, 2012  
Allowance for loan losses:                                    
Balance at December 31, 2011   $ 6,627     $ 6,542     $ 3,295     $ 531     $ 5,035     $ 22,030  
Chargeoffs     (287 )     (417 )     (60 )     (92 )     -       (856 )
Recoveries     100       -       2       3       -       105  
Provision     185       1,482       656       68       (8 )     2,383  
Balance at March 31, 2012   $ 6,625     $ 7,607     $ 3,893     $ 510     $ 5,027     $ 23,662  

 

    As of March 31, 2013  
Individually Evaluated for Impairment   $ 982     $ 2,915     $ 2,651     $ -     $ -     $ 6,548  
Collectively Evaluated for Impairment     7,969       3,727       3,086       164       6,185       21,131  
                                                 
Loans:                                                
Ending Balance   $ 1,090,877     $ 162,190     $ 1,168,829     $ 40,258       -     $ 2,462,154  
Individually Tested for Impairment     5,044       26,767       21,852       157       -       53,820  
Collectively Evaluated for Impairment     1,085,833       135,423       1,146,977       40,101       -       2,408,334  

 

  As of December 31, 2012  
  Commercial,                                
  financial and     Real estate -     Real estate -         Qualitative        
  agricultural     construction     mortgage     Consumer     Factors     Total  
                                   
Allowance for loan losses:   $ 8,233     $ 6,511     $ 4,912     $ 199     $ 6,403     $ 26,258  
                                               
Individually Evaluated for Impairment   $ 577     $ 1,013     $ 1,921     $ -     $ -     $ 3,511  
Collectively Evaluated for Impairment     7,656       5,498       2,991       199       6,403       22,747  
                                               
Loans:                                                
Ending Balance   $ 1,030,990     $ 158,361     $ 1,127,549     $ 46,282       -     $ 2,363,182  
Individually Evaluated for Impairment     3,910       14,422       18,927       135       -       37,394  
Collectively Evaluated for Impairment     1,027,080       143,939       1,108,622       46,147       -       2,325,788  
Details Of Company's Impaired Loans

The following table presents details of the Company’s impaired loans as of March 31, 2013 and December 31, 2012, respectively. Loans which have been fully charged off do not appear in the table.

 

  March 31, 2013  
                  For the three months ended March 31, 2013  
                      Interest  
      Unpaid         Average     Income  
  Recorded     Principal     Related     Recorded     Recognized  
  Investment     Balance     Allowance     Investment     in Period  
  (In Thousands)  
With no allowance recorded:                              
Commercial, financial                                        
and agricultural   $ 3,246     $ 3,500     $ -     $ 3,281     $ 95  
Real estate - construction     15,049       16,071       -       13,616       97  
Real estate - mortgage:                                        
Owner-occupied commercial     6,458       6,708       -       6,472       36  
1-4 family mortgage     1,566       1,787       -       1,566       15  
Other mortgage     2,720       2,819       -       2,722       39  
Total real estate - mortgage     10,744       11,314       -       10,760       90  
Consumer     157       366       -       158       1  
Total with no allowance recorded     29,196       31,251       -       27,815       283  
                                       
With an allowance recorded:                                        
Commercial, financial                                        
and agricultural     1,798       1,798       982       1,806       12  
Real estate - construction     11,718       12,165       2,915       11,857       44  
Real estate - mortgage:                                        
Owner-occupied commercial     4,681       4,681       1,194       4,696       44  
1-4 family mortgage     4,541       4,541       1,023       4,542       37  
Other mortgage     1,886       1,886       434       1,760       27  
Total real estate - mortgage     11,108       11,108       2,651       10,998       108  
Total with allowance recorded     24,624       25,071       6,548       24,661       164  
                                       
Total Impaired Loans:                                        
Commercial, financial                                        
and agricultural     5,044       5,298       982       5,087       107  
Real estate - construction     26,767       28,236       2,915       25,473       141  
Real estate - mortgage:                                        
Owner-occupied commercial     11,139       11,389       1,194       11,168       80  
1-4 family mortgage     6,107       6,328       1,023       6,108       52  
Other mortgage     4,606       4,705       434       4,482       66  
Total real estate - mortgage     21,852       22,422       2,651       21,758       198  
Consumer     157       366       -       158       1  
Total impaired loans   $ 53,820     $ 56,322     $ 6,548     $ 52,476     $ 447  

 

 

  December 31, 2012  
                        Interest  
      Unpaid         Average     Income  
  Recorded     Principal     Related     Recorded     Recognized  
  Investment     Balance     Allowance     Investment     In Period  
  (In Thousands)  
With no allowance recorded:                              
Commercial, financial                                        
and agricultural   $ 2,602     $ 2,856     $ -     $ 2,313     $ 105  
Real estate - construction     6,872       7,894       -       7,631       188  
Real estate - mortgage:                                        
Owner-occupied commercial     5,111       5,361       -       5,411       145  
1-4 family mortgage     2,166       2,388       -       2,177       108  
Other mortgage     4,151       4,249       -       4,206       275  
Total real estate - mortgage     11,428       11,998       -       11,794       528  
Consumer     135       344       -       296       6  
Total with no allowance recorded     21,037       23,092       -       22,034       827  
                                       
With an allowance recorded:                                        
Commercial, financial                                        
and agricultural     1,308       1,308       577       1,325       90  
Real estate - construction     7,550       8,137       1,013       6,961       154  
Real estate - mortgage:                                        
Owner-occupied commercial     3,195       3,195       779       3,277       77  
1-4 family mortgage     4,002       4,002       1,007       4,001       139  
Other mortgage     302       302       135       307       20  
Total real estate - mortgage     7,499       7,499       1,921       7,585       236  
Total with allowance recorded     16,357       16,944       3,511       15,871       480  
                                       
Total Impaired Loans:                                        
Commercial, financial                                        
and agricultural     3,910       4,164       577       3,638       195  
Real estate - construction     14,422       16,031       1,013       14,592       342  
Real estate - mortgage:                                        
Owner-occupied commercial     8,306       8,556       779       8,688       222  
1-4 family mortgage     6,168       6,390       1,007       6,178       247  
Other mortgage     4,453       4,551       135       4,513       295  
Total real estate - mortgage     18,927       19,497       1,921       19,379       764  
Consumer     135       344       -       296       6  
Total impaired loans   $ 37,394     $ 40,036     $ 3,511     $ 37,905     $ 1,307  
Analysis Of Troubled Debt Restructuring
The following table presents an analysis of TDRs as of March 31, 2013 and March 31, 2012.

 

  March 31, 2013     March 31, 2012  
      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     $ 1,121     $ 1,121       2     $ 1,318     $ 1,318  
Real estate - construction     15       3,213       3,213       10       2,140       2,140  
Real estate - mortgage:                                                
Owner-occupied                                              
   commercial     6       5,907       5,907       3       2,785       2,785  
1-4 family mortgage     5       1,709       1,709       5       1,705       1,705  
Other mortgage     1       301       301       1       311       311  
Total real estate mortgage     12       7,917       7,917       9       4,801       4,801  
Consumer     -       -       -       -       -       -  
      29     $ 12,251     $ 12,251       21     $ 8,259     $ 8,259  
                                                 
    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             3       2,785          
1-4 family mortgage     -       -             -       -          
Other mortgage     -       -             -       -          
Total real estate - mortgage     3       2,786             3       2,785          
Consumer     -       -             -       -          
      3     $ 2,786             3     $ 2,785