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Loans and Allowance for Credit Losses | 12 Months Ended
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Dec. 31, 2019
Receivables [Abstract] |
Loans and Allowance for Credit Losses | Note 4. Loans and Allowance for Credit Losses The Company generally makes loans in its market areas of south Mississippi; southern and central Alabama; northwest, central and south Louisiana; the northern, central and panhandle regions of Florida; and certain areas of east and northeast Texas, including Houston, Beaumont and Dallas; and Nashville, Tennessee. The following table presents loans, net of unearned income, by portfolio class at December 31, 2019 and 2018:
(in thousands) |  | 2019 |  |  | 2018 |
Commercial non-real estate |  | $ |  | 9,166,947 |  |  | $ |  | 8,620,601 |
Commercial real estate - owner occupied |  |  |  | 2,738,460 |  |  |  |  | 2,457,748 |
Total commercial and industrial |  |  |  | 11,905,407 |  |  |  |  | 11,078,349 |
Commercial real estate - income producing |  |  |  | 2,994,448 |  |  |  |  | 2,341,779 |
Construction and land development |  |  |  | 1,157,451 |  |  |  |  | 1,548,335 |
Residential mortgages |  |  |  | 2,990,631 |  |  |  |  | 2,910,081 |
Consumer |  |  |  | 2,164,818 |  |  |  |  | 2,147,867 |
Total loans |  | $ |  | 21,212,755 |  |  | $ |  | 20,026,411 |
The Bank makes loans in the normal course of business to directors and executive officers of the Company and the Bank and to their associates. Loans to such related parties are made on substantially the same terms, including interest rates and collateral requirements, as those prevailing at the time for comparable transactions with unrelated parties and do not involve more than normal risk of collectability when originated. Balances of loans to the Company’s directors, executive officers and their associates at December 31, 2019 and 2018 were approximately $13.4 million and $37.5 million, respectively. Included in such loans at December 31, 2018 was $22.4 million to directors that retired in 2019. Related party loan activity in 2019 includes new loans of $7.1 million and repayments of $8.8 million. The Bank has a line of credit with the Federal Home Loan Bank of Dallas that is secured by blanket pledges of certain qualifying loan types. The Bank had borrowings on this line of $2.0 billion and $1.2 billion at December 31, 2019 and 2018, respectively. The following schedules show activity in the allowance for credit losses by portfolio segment for the year ended December 31, 2019 and the activity in the allowance for loan losses by portfolio segment for the year ended December 31, 2018, as well as the corresponding recorded investment in loans at December 31, 2019 and 2018.
|  | Commercial Non-Real Estate |  |  | Commercial Real Estate- Owner Occupied |  |  | Total Commercial and Industrial |  |  | Commercial Real Estate- Income Producing |  |  | Construction and Land Development |  |  | Residential Mortgages |  |  | Consumer |  |  | Total |
(in thousands) |  | Year Ended December 31, 2019 |
Allowance for credit losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ |  | 97,752 |  |  | $ |  | 13,757 |  |  | $ |  | 111,509 |  |  | $ |  | 17,638 |  |  | $ |  | 15,647 |  |  | $ |  | 23,782 |  |  | $ |  | 25,938 |  |  | $ |  | 194,514 |
Charge-offs |  |  |  | (39,600 | ) |  |  |  | (137 | ) |  |  |  | (39,737 | ) |  |  |  | (32 | ) |  |  |  | (7 | ) |  |  |  | (846 | ) |  |  |  | (18,455 | ) |  |  |  | (59,077 | )
Recoveries |  |  |  | 6,940 |  |  |  |  | 306 |  |  |  |  | 7,246 |  |  |  |  | 569 |  |  |  |  | 140 |  |  |  |  | 480 |  |  |  |  | 3,645 |  |  |  |  | 12,080 |
Net provision for loan losses |  |  |  | 41,340 |  |  |  |  | (2,949 | ) |  |  |  | 38,391 |  |  |  |  | 2,694 |  |  |  |  | (6,430 | ) |  |  |  | (3,085 | ) |  |  |  | 12,164 |  |  |  |  | 43,734 |
Ending balance - allowance for loan losses |  | $ |  | 106,432 |  |  | $ |  | 10,977 |  |  | $ |  | 117,409 |  |  | $ |  | 20,869 |  |  | $ |  | 9,350 |  |  | $ |  | 20,331 |  |  | $ |  | 23,292 |  |  | $ |  | 191,251 |
Reserve for unfunded lending commitments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |
Provision for losses on unfunded commitments |  |  |  | 3,974 |  |  |  |  | — |  |  |  |  | 3,974 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 3,974 |
Ending balance - reserve for unfunded lending commitments |  | $ |  | 3,974 |  |  | $ |  | — |  |  | $ |  | 3,974 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 3,974 |
Total allowance for credit losses |  | $ |  | 110,406 |  |  | $ |  | 10,977 |  |  | $ |  | 121,383 |  |  | $ |  | 20,869 |  |  | $ |  | 9,350 |  |  | $ |  | 20,331 |  |  | $ |  | 23,292 |  |  | $ |  | 195,225 |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ |  | 21,733 |  |  | $ |  | 104 |  |  | $ |  | 21,837 |  |  | $ |  | 18 |  |  | $ |  | 21 |  |  | $ |  | 217 |  |  | $ |  | 292 |  |  | $ |  | 22,385 |
Amounts related to purchased credit impaired loans |  |  |  | 164 |  |  |  |  | 169 |  |  |  |  | 333 |  |  |  |  | 39 |  |  |  |  | 136 |  |  |  |  | 7,474 |  |  |  |  | 275 |  |  |  |  | 8,257 |
Collectively evaluated for impairment |  |  |  | 84,535 |  |  |  |  | 10,704 |  |  |  |  | 95,239 |  |  |  |  | 20,812 |  |  |  |  | 9,193 |  |  |  |  | 12,640 |  |  |  |  | 22,725 |  |  |  |  | 160,609 |
Allowance for loan losses |  | $ |  | 106,432 |  |  | $ |  | 10,977 |  |  | $ |  | 117,409 |  |  | $ |  | 20,869 |  |  | $ |  | 9,350 |  |  | $ |  | 20,331 |  |  | $ |  | 23,292 |  |  | $ |  | 191,251 |
Reserve for unfunded lending commitments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ |  | 3,974 |  |  | $ |  | — |  |  | $ |  | 3,974 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 3,974 |
Total allowance for credit losses |  | $ |  | 110,406 |  |  | $ |  | 10,977 |  |  | $ |  | 121,383 |  |  | $ |  | 20,869 |  |  | $ |  | 9,350 |  |  | $ |  | 20,331 |  |  | $ |  | 23,292 |  |  | $ |  | 195,225 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ |  | 232,438 |  |  | $ |  | 4,381 |  |  | $ |  | 236,819 |  |  | $ |  | 1,898 |  |  | $ |  | 277 |  |  | $ |  | 5,174 |  |  | $ |  | 1,483 |  |  | $ |  | 245,651 |
Purchased credit impaired loans |  |  |  | 31,073 |  |  |  |  | 36,200 |  |  |  |  | 67,273 |  |  |  |  | 35,353 |  |  |  |  | 20,516 |  |  |  |  | 86,757 |  |  |  |  | 5,346 |  |  |  |  | 215,245 |
Collectively evaluated for impairment |  |  |  | 8,903,436 |  |  |  |  | 2,697,879 |  |  |  |  | 11,601,315 |  |  |  |  | 2,957,197 |  |  |  |  | 1,136,658 |  |  |  |  | 2,898,700 |  |  |  |  | 2,157,989 |  |  |  |  | 20,751,859 |
Total loans |  | $ |  | 9,166,947 |  |  | $ |  | 2,738,460 |  |  | $ |  | 11,905,407 |  |  | $ |  | 2,994,448 |  |  | $ |  | 1,157,451 |  |  | $ |  | 2,990,631 |  |  | $ |  | 2,164,818 |  |  | $ |  | 21,212,755 |
|  | Commercial Non-Real Estate |  |  | Commercial Real Estate- Owner Occupied |  |  | Total Commercial and Industrial |  |  | Commercial Real Estate- Income Producing |  |  | Construction and Land Development |  |  | Residential Mortgages |  |  | Consumer |  |  | Total |
(in thousands) |  | Year Ended December 31, 2018 |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ |  | 127,918 |  |  | $ |  | 12,962 |  |  | $ |  | 140,880 |  |  | $ |  | 13,709 |  |  | $ |  | 7,372 |  |  | $ |  | 24,844 |  |  | $ |  | 30,503 |  |  | $ |  | 217,308 |
Charge-offs |  |  |  | (40,069 | ) |  |  |  | (8,059 | ) |  |  |  | (48,128 | ) |  |  |  | (1,633 | ) |  |  |  | (334 | ) |  |  |  | (614 | ) |  |  |  | (23,913 | ) |  |  |  | (74,622 | )
Recoveries |  |  |  | 14,385 |  |  |  |  | 317 |  |  |  |  | 14,702 |  |  |  |  | 221 |  |  |  |  | 96 |  |  |  |  | 2,179 |  |  |  |  | 5,162 |  |  |  |  | 22,360 |
Net provision for loan losses |  |  |  | (4,482 | ) |  |  |  | 8,537 |  |  |  |  | 4,055 |  |  |  |  | 5,341 |  |  |  |  | 8,513 |  |  |  |  | (2,627 | ) |  |  |  | 20,834 |  |  |  |  | 36,116 |
Other |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | (6,648 | ) |  |  |  | (6,648 | )
Ending balance - allowance for loan losses |  | $ |  | 97,752 |  |  | $ |  | 13,757 |  |  | $ |  | 111,509 |  |  | $ |  | 17,638 |  |  | $ |  | 15,647 |  |  | $ |  | 23,782 |  |  | $ |  | 25,938 |  |  | $ |  | 194,514 |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ |  | 3,636 |  |  | $ |  | 607 |  |  | $ |  | 4,243 |  |  | $ |  | 210 |  |  | $ |  | 1 |  |  | $ |  | 444 |  |  | $ |  | 216 |  |  | $ |  | 5,114 |
Amounts related to purchased credit impaired loans |  |  |  | 239 |  |  |  |  | 215 |  |  |  |  | 454 |  |  |  |  | 43 |  |  |  |  | 83 |  |  |  |  | 9,766 |  |  |  |  | 388 |  |  |  |  | 10,734 |
Collectively evaluated for impairment |  |  |  | 93,877 |  |  |  |  | 12,935 |  |  |  |  | 106,812 |  |  |  |  | 17,385 |  |  |  |  | 15,563 |  |  |  |  | 13,572 |  |  |  |  | 25,334 |  |  |  |  | 178,666 |
Total allowance for loan losses |  | $ |  | 97,752 |  |  | $ |  | 13,757 |  |  | $ |  | 111,509 |  |  | $ |  | 17,638 |  |  | $ |  | 15,647 |  |  | $ |  | 23,782 |  |  | $ |  | 25,938 |  |  | $ |  | 194,514 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ |  | 239,384 |  |  | $ |  | 21,666 |  |  | $ |  | 261,050 |  |  | $ |  | 2,701 |  |  | $ |  | 121 |  |  | $ |  | 3,876 |  |  | $ |  | 1,007 |  |  | $ |  | 268,755 |
Purchased credit impaired loans |  |  |  | 6,629 |  |  |  |  | 6,212 |  |  |  |  | 12,841 |  |  |  |  | 3,757 |  |  |  |  | 3,387 |  |  |  |  | 105,430 |  |  |  |  | 4,181 |  |  |  |  | 129,596 |
Collectively evaluated for impairment |  |  |  | 8,374,588 |  |  |  |  | 2,429,870 |  |  |  |  | 10,804,458 |  |  |  |  | 2,335,321 |  |  |  |  | 1,544,827 |  |  |  |  | 2,800,775 |  |  |  |  | 2,142,679 |  |  |  |  | 19,628,060 |
Total loans |  | $ |  | 8,620,601 |  |  | $ |  | 2,457,748 |  |  | $ |  | 11,078,349 |  |  | $ |  | 2,341,779 |  |  | $ |  | 1,548,335 |  |  | $ |  | 2,910,081 |  |  | $ |  | 2,147,867 |  |  | $ |  | 20,026,411 |
Impaired Loans The following table shows the composition of nonaccrual loans by portfolio class. Purchased credit impaired loans accounted for in pools with an accretable yield are considered to be performing and are excluded from the table.
|  | December 31, |
(in thousands) |  | 2019 |  |  | 2018 |
Commercial non-real estate |  | $ |  | 178,678 |  |  | $ |  | 110,653 |
Commercial real estate - owner occupied |  |  |  | 7,708 |  |  |  |  | 16,895 |
Total commercial and industrial |  |  |  | 186,386 |  |  |  |  | 127,548 |
Commercial real estate - income producing |  |  |  | 2,594 |  |  |  |  | 4,991 |
Construction and land development |  |  |  | 1,217 |  |  |  |  | 2,146 |
Residential mortgages |  |  |  | 39,262 |  |  |  |  | 35,866 |
Consumer |  |  |  | 16,374 |  |  |  |  | 16,744 |
Total loans |  | $ |  | 245,833 |  |  | $ |  | 187,295 |
For the years ended December 31, 2019, 2018 and 2017, the estimated amount of interest income from nonaccrual loans that would have been recorded had the loans not been assigned nonaccrual status was $13.9 million, $13.7 million and $14.7 million, respectively. Nonaccrual loans include nonaccruing loans modified in troubled debt restructurings (TDRs) of $132.5 million and $85.5 million, at December 31, 2019 and 2018, respectively. Total TDRs, both accruing and nonaccruing, were $193.7 million at December 31, 2019 and $224.6 million at December 31, 2018. The table below details TDRs that were modified during the years ended December 31, 2019, 2018 and 2017 by portfolio segment. All such loans are individually evaluated for impairment.
|  | Years Ended |
($ in thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
|  |  |  |  |  | Outstanding Recorded Investment |  |  |  |  |  |  | Outstanding Recorded Investment |  |  |  |  |  |  | Outstanding Recorded Investment |
Troubled Debt Restructurings: |  | Number of Contracts |  |  | Pre- Modification |  |  | Post- Modification |  |  | Number of Contracts |  |  | Pre- Modification |  |  | Post- Modification |  |  | Number of Contracts |  |  | Pre- Modification |  |  | Post- Modification |
Commercial non-real estate |  |  | 13 |  |  | $ |  | 64,051 |  |  | $ |  | 57,240 |  |  |  | 29 |  |  | $ |  | 85,306 |  |  | $ |  | 85,306 |  |  |  | 52 |  |  | $ |  | 162,909 |  |  | $ |  | 162,909 |
Commercial real estate - owner occupied |  |  | 1 |  |  |  |  | 167 |  |  |  |  | 167 |  |  |  | 2 |  |  |  |  | 6,138 |  |  |  |  | 6,138 |  |  |  | 5 |  |  |  |  | 5,684 |  |  |  |  | 5,684 |
Total commercial and industrial |  |  | 14 |  |  |  |  | 64,218 |  |  |  |  | 57,407 |  |  |  | 31 |  |  |  |  | 91,444 |  |  |  |  | 91,444 |  |  |  | 57 |  |  |  |  | 168,593 |  |  |  |  | 168,593 |
Commercial real estate - income producing |  |  | 1 |  |  |  |  | 123 |  |  |  |  | 123 |  |  |  | 1 |  |  |  |  | 1,564 |  |  |  |  | 1,564 |  |  |  | 5 |  |  |  |  | 5,625 |  |  |  |  | 5,625 |
Construction and land development |  |  | 3 |  |  |  |  | 323 |  |  |  |  | 323 |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Residential mortgages |  |  | 21 |  |  |  |  | 3,286 |  |  |  |  | 3,286 |  |  |  | 14 |  |  |  |  | 1,297 |  |  |  |  | 1,297 |  |  |  | 15 |  |  |  |  | 2,812 |  |  |  |  | 2,812 |
Consumer |  |  | 10 |  |  |  |  | 168 |  |  |  |  | 168 |  |  |  | 10 |  |  |  |  | 455 |  |  |  |  | 455 |  |  |  | 1 |  |  |  |  | 40 |  |  |  |  | 40 |
Total loans |  |  | 49 |  |  | $ |  | 68,118 |  |  | $ |  | 61,307 |  |  |  | 56 |  |  | $ |  | 94,760 |  |  | $ |  | 94,760 |  |  |  | 78 |  |  | $ |  | 177,070 |  |  | $ |  | 177,070 |
The TDRs modified during the year ended December 31, 2019 reflected in the table above include $18.7 million of loans with extended amortization terms or other payment concessions, $41.3 million of loans with significant covenant waivers and $8.1 million with other modifications. In addition, the Company received approximately $6.8 million of equity securities of one commercial non-real estate borrower in satisfaction of a portion of its debt. The TDRs modified during the year ended December 31, 2018 include $50.8 million of loans with extended amortization terms or other payment concessions, $14.6 million of loans with significant covenant waivers, and $29.4 million with other modifications. The TDRs modified during the year ended December 31, 2017 include $98.1 million of loans with extended terms or other payment concessions, $76.2 million of loans with significant covenant waivers, and $2.8 million of other modifications. At December 31, 2019 and 2018, the Company had unfunded commitments of approximately $2.4 million and $2.1 million, respectively, to borrowers whose loan terms had been modified in TDRs. No TDRs modified during the years ended December 31, 2019 and 2017 subsequently defaulted within twelve month of modification. Of the TDRs modified during the year ended December 31, 2018, one residential mortgage totaling $0.2 million, one owner-occupied commercial real estate loan totaling $1.8 million and one consumer loan totaling less than $ 0.1 million defaulted within 12 months of the modification. The tables below present loans that are individually evaluated for impairment disaggregated by portfolio class at December 31, 2019 and 2018. Loans individually evaluated for impairment include TDRs and loans that are determined to be impaired and have aggregate relationship balances of $1 million or more.
|  | December 31, 2019 |
(in thousands) |  | Recorded Investment Without an Allowance |  |  | Recorded Investment With an Allowance |  |  | Unpaid Principal Balance |  |  | Related Allowance |
Commercial non-real estate |  | $ |  | 134,191 |  |  | $ |  | 98,247 |  |  | $ |  | 270,078 |  |  | $ |  | 21,733 |
Commercial real estate - owner occupied |  |  |  | 2,665 |  |  |  |  | 1,716 |  |  |  |  | 7,793 |  |  |  |  | 104 |
Total commercial and industrial |  |  |  | 136,856 |  |  |  |  | 99,963 |  |  |  |  | 277,871 |  |  |  |  | 21,837 |
Commercial real estate - income producing |  |  |  | 373 |  |  |  |  | 1,525 |  |  |  |  | 1,959 |  |  |  |  | 18 |
Construction and land development |  |  |  | — |  |  |  |  | 277 |  |  |  |  | 322 |  |  |  |  | 21 |
Residential mortgages |  |  |  | 3,383 |  |  |  |  | 1,791 |  |  |  |  | 5,709 |  |  |  |  | 217 |
Consumer |  |  |  | 479 |  |  |  |  | 1,004 |  |  |  |  | 1,906 |  |  |  |  | 292 |
Total loans |  | $ |  | 141,091 |  |  | $ |  | 104,560 |  |  | $ |  | 287,767 |  |  | $ |  | 22,385 |
|  | December 31, 2018 |
(in thousands) |  | Recorded Investment Without an Allowance |  |  | Recorded Investment With an Allowance |  |  | Unpaid Principal Balance |  |  | Related Allowance |
Commercial non-real estate |  | $ |  | 144,625 |  |  | $ |  | 94,759 |  |  | $ |  | 273,290 |  |  | $ |  | 3,636 |
Commercial real estate - owner occupied |  |  |  | 13,027 |  |  |  |  | 8,639 |  |  |  |  | 25,888 |  |  |  |  | 607 |
Total commercial and industrial |  |  |  | 157,652 |  |  |  |  | 103,398 |  |  |  |  | 299,178 |  |  |  |  | 4,243 |
Commercial real estate - income producing |  |  |  | 1,138 |  |  |  |  | 1,563 |  |  |  |  | 3,428 |  |  |  |  | 210 |
Construction and land development |  |  |  | 100 |  |  |  |  | 21 |  |  |  |  | 121 |  |  |  |  | 1 |
Residential mortgages |  |  |  | 2,058 |  |  |  |  | 1,818 |  |  |  |  | 4,421 |  |  |  |  | 444 |
Consumer |  |  |  | 279 |  |  |  |  | 728 |  |  |  |  | 1,253 |  |  |  |  | 216 |
Total loans |  | $ |  | 161,227 |  |  | $ |  | 107,528 |  |  | $ |  | 308,401 |  |  | $ |  | 5,114 |
The tables below present the average balances and interest income for total impaired loans for the years ended December 31, 2019 and 2018. Interest income recognized represents interest on accruing loans modified in a TDR.
|  | Years Ended |
|  | December 31, 2019 |  |  | December 31, 2018 |
(in thousands) |  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Average Recorded Investment |  |  | Interest Income Recognized |
Commercial non-real estate |  | $ |  | 223,500 |  |  | $ |  | 4,917 |  |  | $ |  | 286,146 |  |  | $ |  | 7,919 |
Commercial real estate - owner occupied |  |  |  | 14,719 |  |  |  |  | 196 |  |  |  |  | 25,325 |  |  |  |  | 343 |
Total commercial and industrial |  |  |  | 238,219 |  |  |  |  | 5,113 |  |  |  |  | 311,471 |  |  |  |  | 8,262 |
Commercial real estate - income producing |  |  |  | 2,407 |  |  |  |  | 27 |  |  |  |  | 9,155 |  |  |  | 71 |
Construction and land development |  |  |  | 906 |  |  |  |  | 4 |  |  |  |  | 145 |  |  |  |  | — |
Residential mortgages |  |  |  | 4,578 |  |  |  |  | 11 |  |  |  |  | 5,598 |  |  |  |  | 18 |
Consumer |  |  |  | 1,464 |  |  |  |  | 77 |  |  |  |  | 814 |  |  |  |  | 39 |
Total loans |  | $ |  | 247,574 |  |  | $ |  | 5,232 |  |  | $ |  | 327,183 |  |  | $ |  | 8,390 |
Aging Analysis The tables below present the age analysis of past due loans by portfolio class at December 31, 2019 and 2018. Purchased credit impaired loans with an accretable yield are considered to be current:
December 31, 2019 |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | Greater Than 90 Days past due |  |  | Total Past Due |  |  | Current |  |  | Total Loans |  |  | Recorded Investment > 90 Days and Accruing |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial non-real estate |  | $ |  | 20,893 |  |  | $ |  | 13,445 |  |  | $ |  | 100,806 |  |  | $ |  | 135,144 |  |  | $ |  | 9,031,803 |  |  | $ |  | 9,166,947 |  |  | $ |  | 1,537 |
Commercial real estate - owner occupied |  |  |  | 4,862 |  |  |  |  | 556 |  |  |  |  | 7,268 |  |  |  |  | 12,686 |  |  |  |  | 2,725,774 |  |  |  |  | 2,738,460 |  |  |  |  | 830 |
Total commercial and industrial |  |  |  | 25,755 |  |  |  |  | 14,001 |  |  |  |  | 108,074 |  |  |  |  | 147,830 |  |  |  |  | 11,757,577 |  |  |  |  | 11,905,407 |  |  |  |  | 2,367 |
Commercial real estate - income producing |  |  |  | 738 |  |  |  |  | 703 |  |  |  |  | 2,910 |  |  |  |  | 4,351 |  |  |  |  | 2,990,097 |  |  |  |  | 2,994,448 |  |  |  |  | 450 |
Construction and land development |  |  |  | 5,747 |  |  |  |  | 680 |  |  |  |  | 2,480 |  |  |  |  | 8,907 |  |  |  |  | 1,148,544 |  |  |  |  | 1,157,451 |  |  |  |  | 2,042 |
Residential mortgages |  |  |  | 32,867 |  |  |  |  | 8,584 |  |  |  |  | 23,577 |  |  |  |  | 65,028 |  |  |  |  | 2,925,603 |  |  |  |  | 2,990,631 |  |  |  |  | 85 |
Consumer |  |  |  | 18,586 |  |  |  |  | 6,215 |  |  |  |  | 9,901 |  |  |  |  | 34,702 |  |  |  |  | 2,130,116 |  |  |  |  | 2,164,818 |  |  |  |  | 1,638 |
Total loans |  | $ |  | 83,693 |  |  | $ |  | 30,183 |  |  | $ |  | 146,942 |  |  | $ |  | 260,818 |  |  | $ |  | 20,951,937 |  |  | $ |  | 21,212,755 |  |  | $ |  | 6,582 |
December 31, 2018 |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | Greater Than 90 Days Past Due |  |  | Total Past Due |  |  | Current |  |  | Total Loans |  |  | Recorded Investment > 90 Days and Accruing |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial non-real estate |  | $ |  | 12,257 |  |  | $ |  | 3,895 |  |  | $ |  | 77,551 |  |  | $ |  | 93,703 |  |  | $ |  | 8,526,898 |  |  | $ |  | 8,620,601 |  |  | $ |  | 10,823 |
Commercial real estate - owner occupied |  |  |  | 2,394 |  |  |  |  | 1,570 |  |  |  |  | 14,542 |  |  |  |  | 18,506 |  |  |  |  | 2,439,242 |  |  |  |  | 2,457,748 |  |  |  |  | 380 |
Total commercial and industrial |  |  |  | 14,651 |  |  |  |  | 5,465 |  |  |  |  | 92,093 |  |  |  |  | 112,209 |  |  |  |  | 10,966,140 |  |  |  |  | 11,078,349 |  |  |  |  | 11,203 |
Commercial real estate - income producing |  |  |  | 2,371 |  |  |  |  | 772 |  |  |  |  | 5,495 |  |  |  |  | 8,638 |  |  |  |  | 2,333,141 |  |  |  |  | 2,341,779 |  |  |  |  | 1,844 |
Construction and land development |  |  |  | 7,397 |  |  |  |  | 1,129 |  |  |  |  | 2,165 |  |  |  |  | 10,691 |  |  |  |  | 1,537,644 |  |  |  |  | 1,548,335 |  |  |  |  | 644 |
Residential mortgages |  |  |  | 32,869 |  |  |  |  | 14,706 |  |  |  |  | 23,175 |  |  |  |  | 70,750 |  |  |  |  | 2,839,331 |  |  |  |  | 2,910,081 |  |  |  |  | — |
Consumer |  |  |  | 20,402 |  |  |  |  | 4,695 |  |  |  |  | 9,665 |  |  |  |  | 34,762 |  |  |  |  | 2,113,105 |  |  |  |  | 2,147,867 |  |  |  |  | 618 |
Total loans |  | $ |  | 77,690 |  |  | $ |  | 26,767 |  |  | $ |  | 132,593 |  |  | $ |  | 237,050 |  |  | $ |  | 19,789,361 |  |  | $ |  | 20,026,411 |  |  | $ |  | 14,309 |
Credit Quality Indicators The tables below present the credit quality indicators classes by segments and portfolio class of loans at December 31, 2019 and December 31, 2018.
|  | December 31, 2019 |
(in thousands) |  | Commercial Non- Real Estate |  |  | Commercial Real Estate - Owner Occupied |  |  | Total Commercial and Industrial |  |  | Commercial Real Estate - Income Producing |  |  | Construction and Land Development |  |  | Total Commercial |
Grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ |  | 8,492,113 |  |  | $ |  | 2,517,448 |  |  | $ |  | 11,009,561 |  |  | $ |  | 2,883,553 |  |  | $ |  | 1,120,997 |  |  | $ |  | 15,014,111 |
Pass-Watch |  |  |  | 220,850 |  |  |  |  | 146,266 |  |  |  |  | 367,116 |  |  |  |  | 69,765 |  |  |  |  | 25,621 |  |  |  |  | 462,502 |
Special Mention |  |  |  | 71,654 |  |  |  |  | 14,651 |  |  |  |  | 86,305 |  |  |  |  | 14,995 |  |  |  |  | 283 |  |  |  |  | 101,583 |
Substandard |  |  |  | 382,330 |  |  |  |  | 60,095 |  |  |  |  | 442,425 |  |  |  |  | 26,135 |  |  |  |  | 10,550 |  |  |  |  | 479,110 |
Doubtful |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Total |  | $ |  | 9,166,947 |  |  | $ |  | 2,738,460 |  |  | $ |  | 11,905,407 |  |  | $ |  | 2,994,448 |  |  | $ |  | 1,157,451 |  |  | $ |  | 16,057,306 |
|  | December 31, 2018 |
(in thousands) |  | Commercial Non- Real Estate |  |  | Commercial Real Estate - Owner Occupied |  |  | Total Commercial & Industrial |  |  | Commercial Real Estate - Income Producing |  |  | Construction and Land Development |  |  | Total Commercial |
Grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ |  | 7,875,588 |  |  | $ |  | 2,274,211 |  |  | $ |  | 10,149,799 |  |  | $ |  | 2,265,087 |  |  | $ |  | 1,487,599 |  |  | $ |  | 13,902,485 |
Pass-Watch |  |  |  | 260,510 |  |  |  |  | 84,271 |  |  |  |  | 344,781 |  |  |  |  | 46,535 |  |  |  |  | 49,099 |  |  |  |  | 440,415 |
Special Mention |  |  |  | 75,752 |  |  |  |  | 23,149 |  |  |  |  | 98,901 |  |  |  |  | 5,510 |  |  |  |  | 816 |  |  |  |  | 105,227 |
Substandard |  |  |  | 408,751 |  |  |  |  | 76,117 |  |  |  |  | 484,868 |  |  |  |  | 24,647 |  |  |  |  | 10,821 |  |  |  |  | 520,336 |
Doubtful |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Total |  | $ |  | 8,620,601 |  |  | $ |  | 2,457,748 |  |  | $ |  | 11,078,349 |  |  | $ |  | 2,341,779 |  |  | $ |  | 1,548,335 |  |  | $ |  | 14,968,463 |
|  | December 31, 2019 |  |  | December 31, 2018 |
(in thousands) |  | Residential Mortgage |  |  | Consumer |  |  | Total |  |  | Residential Mortgage |  |  | Consumer |  |  | Total |
Performing |  | $ |  | 2,950,854 |  |  | $ |  | 2,147,312 |  |  | $ |  | 5,098,166 |  |  | $ |  | 2,873,669 |  |  | $ |  | 2,130,395 |  |  | $ |  | 5,004,064 |
Nonperforming |  |  |  | 39,777 |  |  |  |  | 17,506 |  |  |  |  | 57,283 |  |  |  |  | 36,412 |  |  |  |  | 17,472 |  |  |  |  | 53,884 |
Total |  | $ |  | 2,990,631 |  |  | $ |  | 2,164,818 |  |  | $ |  | 5,155,449 |  |  | $ |  | 2,910,081 |  |  | $ |  | 2,147,867 |  |  | $ |  | 5,057,948 |
Below are the definitions of the Company’s internally assigned grades: Commercial:
| • | Pass - loans properly approved, documented, collateralized, and performing which do not reflect an abnormal credit risk.
| • | Pass - Watch - credits in this category are of sufficient risk to cause concern. This category is reserved for credits that display negative performance trends. The “Watch” grade should be regarded as a transition category.
| • | Special Mention - a criticized asset category defined as having potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may, at some future date, result in the deterioration of the repayment prospects for the credit or the institution’s credit position. Special mention credits are not considered part of the Classified credit categories and do not expose an institution to sufficient risk to warrant adverse classification.
| • | Substandard - an asset that is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.
| • | Doubtful - an asset that has all the weaknesses inherent in one classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.
| • | Loss - credits classified as Loss are considered uncollectable and are charged off promptly once so classified.
Residential and Consumer:
| • | Performing – accruing loans that have not been modified in a troubled debt restructuring.
| • | Nonperforming – loans for which there are good reasons to doubt that payments will be made in full. All loans with nonaccrual status and all loans that have been modified in a troubled debt restructuring are classified as nonperforming.
Purchased Credit Impaired Loans Changes in the carrying amount of purchased credit impaired loans and related accretable yield are presented in the following table for the years ended December 31, 2019 and 2018:
|  | 2019 |  |  | 2018 |
|  | Carrying |  |  |  |  |  |  |  | Carrying |  |  |  |  |  |
|  | Amount |  |  | Accretable |  |  | Amount |  |  | Accretable |
(in thousands) |  | of Loans |  |  | Yield |  |  | of Loans |  |  | Yield |
Balance at beginning of period |  | $ |  | 129,596 |  |  | $ |  | 37,294 |  |  | $ |  | 153,403 |  |  | $ |  | 62,517 |
Additions |  |  |  | 120,562 |  |  |  |  | 6,246 |  |  |  |  | — |  |  |  |  | — |
Payments received, net |  |  |  | (48,076 | ) |  |  |  | (4,601 | ) |  |  |  | (39,556 | ) |  |  |  | (5,779 | )
Accretion |  |  |  | 13,163 |  |  |  |  | (13,163 | ) |  |  |  | 15,749 |  |  |  |  | (15,749 | )
Increase (decrease) in expected cash flows based on actual cash flow and changes in cash flow assumptions |  |  |  | — |  |  |  |  | 4,170 |  |  |  |  | — |  |  |  |  | (3,695 | )
Balance at end of period |  | $ |  | 215,245 |  |  | $ |  | 29,946 |  |  | $ |  | 129,596 |  |  | $ |  | 37,294 |
Residential Mortgage Loans in Process of Foreclosure Loans in process of foreclosure include those for which formal foreclosure proceedings are in process according to local requirements of the applicable jurisdiction. Included in loans are $8.6 million and $7.1 million of consumer loans secured by single family residential mortgage real estate that are in process of foreclosure as of December 31, 2019 and 2018, respectively. In addition to the single family residential real estate loans in process of foreclosure, the Company also held $6.3 million and $1.8 million of foreclosed single family residential properties in other real estate owned as of December 31, 2019 and 2018, respectively. Loans Held for Sale Loans held for sale totaled $55.9 million and $28.1 million, respectively, at December 31, 2019 and 2018. Substantially all loans held for sale are residential mortgage loans originated for sale. Concurrent with the commitment to lend, the Company enters into a forward commitment to sell these loans on a best efforts delivery basis.

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