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Loans and Allowance for Loan Losses | 12 Months Ended
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Dec. 31, 2014
Receivables [Abstract] |
Loans and Allowance for Loan Losses | (5) LOANS AND ALLOWANCE FOR LOAN LOSSES The following is a schedule of loans outstanding by category:
|  | December 31, |
|  | 2014 |  |  | 2013 |
|  | Amount |  |  | Percent |  |  | Amount |  |  | Percent |
|  | (Dollars in thousands) |
Commercial and financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 745,106 |  |  |  | 19.30 | % |  | $ | 605,672 |  |  |  | 17.88 | %
Oil & gas production and equipment |  |  | 104,940 |  |  |  | 2.72 |  |  |  | 96,907 |  |  |  | 2.86 |
Agriculture |  |  | 132,830 |  |  |  | 3.44 |  |  |  | 111,323 |  |  |  | 3.29 |
State and political subdivisions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable |  |  | 20,431 |  |  |  | 0.53 |  |  |  | 10,217 |  |  |  | 0.30 |
Tax-exempt |  |  | 20,952 |  |  |  | 0.54 |  |  |  | 11,073 |  |  |  | 0.33 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | 356,621 |  |  |  | 9.24 |  |  |  | 284,808 |  |  |  | 8.41 |
Farmland |  |  | 149,507 |  |  |  | 3.87 |  |  |  | 132,512 |  |  |  | 3.91 |
One to four family residences |  |  | 775,795 |  |  |  | 20.09 |  |  |  | 703,903 |  |  |  | 20.78 |
Multifamily residential properties |  |  | 66,766 |  |  |  | 1.73 |  |  |  | 60,080 |  |  |  | 1.77 |
Commercial |  |  | 1,191,477 |  |  |  | 30.86 |  |  |  | 1,097,484 |  |  |  | 32.40 |
Consumer |  |  | 267,179 |  |  |  | 6.92 |  |  |  | 250,588 |  |  |  | 7.40 |
Other (not classified above) |  |  | 29,227 |  |  |  | 0.76 |  |  |  | 22,579 |  |  |  | 0.67 |
Total loans |  | $ | 3,860,831 |  |  |  | 100.00 | % |  | $ | 3,387,146 |  |  |  | 100.00 | %
Loans held for sale (included above) |  | $ | 9,433 |  |  |  |  |  |  | $ | 6,469 |  |  |  |  |
The Company’s loans are mostly to customers within Oklahoma and over 65% of the loans are secured by real estate. Credit risk on loans is managed through limits on amounts loaned to individual borrowers, underwriting standards and loan monitoring procedures. The amounts and types of collateral obtained, if any, to secure loans are based upon the Company’s underwriting standards and management’s credit evaluation. Collateral varies, but may include real estate, equipment, accounts receivable, inventory, livestock and securities. The Company’s interest in collateral is secured through filing mortgages and liens, and in some cases, by possession of the collateral. There are inherent risks associated with the Company’s lending activities. These risks include, among other things, the impact of changes in interest rates and changes in the economic conditions in the markets where the Company operates. Increases in interest rates and/or weakening economic conditions could adversely impact the ability of borrowers to repay outstanding loans or the value of the collateral securing these loans. The Company is also subject to various laws and regulations that affect its lending activities. Failure to comply with applicable laws and regulations could subject the Company to regulatory enforcement action that could result in the assessment of significant civil money penalties against the Company. As a lender, the Company faces the risk that a significant number of its borrowers will fail to pay their loans when due. If borrower defaults cause losses in excess of the Company’s allowance for loan losses, it could have an adverse effect on the Company’s business, profitability, and financial condition. Loans secured by real estate, including farmland, multifamily, commercial, one to four family residential and construction and development loans, have been a large portion of the Company’s loan portfolio. The Company is subject to risk of future market fluctuations in property values relating to these loans. In addition, multi-family and commercial real estate (“CRE”) loans represent the majority of the Company’s real estate loans outstanding, a decline in tenant occupancy due to such factors or for other reasons could adversely impact the ability of the Company’s borrowers to repay their loans on a timely basis, which could have a negative impact on the Company’s financial condition and results of operation. The Company attempts to manage this risk through rigorous loan underwriting standards. During the ordinary course of business, the Company may foreclose on and take title to properties securing certain loans. In doing so, there is a risk that hazardous or toxic substances could be found on these properties. If hazardous or toxic substances are found, the Company may be liable for remediation costs, as well as for personal injury and property damage. Nonperforming and Restructured Assets The following is a summary of nonperforming and restructured assets:
|  | December 31, |
|  | 2014 |  |  | 2013 |
|  | (Dollars in thousands) |
Past due 90 days or more and still accruing |  | $ | 1,135 |  |  | $ | 1,179 |
Nonaccrual |  |  | 16,410 |  |  |  | 14,390 |
Restructured |  |  | 16,515 |  |  |  | 17,624 |
Total nonperforming and restructured loans |  |  | 34,060 |  |  |  | 33,193 |
Other real estate owned and repossessed assets |  |  | 8,079 |  |  |  | 8,386 |
Total nonperforming and restructured assets |  | $ | 42,139 |  |  | $ | 41,579 |
Nonperforming and restructured loans to total loans |  |  | 0.88 | % |  |  | 0.98 | %
Nonperforming and restructured assets to total assets |  |  | 0.64 | % |  |  | 0.69 | %
Nonaccrual loans, accruing loans past due 90 days or more, and restructured loans are shown in the table above. Had nonaccrual loans performed in accordance with their original contractual terms, the Company would have recognized additional interest income of approximately $1.2 million in 2014, $1.5 million in 2013 and $1.3 million in 2012. Restructured loans consisted primarily of one loan restructured to defer principal payments. The loan was evaluated by management and determined to be well collateralized. Additionally, none of the concessions granted involved a principal reduction or a change from the current market rate of interest. The collateral value will be monitored periodically to evaluate possible impairment. The Company charges interest on principal balances outstanding during deferral periods. As a result, the current and future financial effects of the recorded balance of loans considered to be restructured were not considered to be material. Loans are segregated into classes based upon the nature of the collateral and the borrower. These classes are used to estimate the allowance for loan losses. The following table is a summary of amounts included in nonaccrual loans, segregated by class of loans. Residential real estate refers to one to four family real estate.
|  | December 31, |
|  | 2014 |  |  | 2013 |
|  | (Dollars in thousands) |
Real estate: |  |  |  |  |  |  |  |
Non-residential real estate owner occupied |  | $ | 296 |  |  | $ | 595 |
Non-residential real estate other |  |  | 5,126 |  |  |  | 6,270 |
Residential real estate permanent mortgage |  |  | 681 |  |  |  | 718 |
Residential real estate all other |  |  | 1,796 |  |  |  | 1,521 |
Commercial and financial: |  |  |  |  |  |  |  |
Non-consumer non-real estate |  |  | 1,556 |  |  |  | 1,192 |
Consumer non-real estate |  |  | 250 |  |  |  | 176 |
Other loans |  |  | 1,659 |  |  |  | 1,407 |
Acquired loans |  |  | 5,046 |  |  |  | 2,511 |
Total |  | $ | 16,410 |  |  | $ | 14,390 |
The following table presents an age analysis of past due loans, segregated by class of loans:
|  | Age Analysis of Past Due Loans |
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days and Greater |  |  | Total Past Due Loans |  |  | Current Loans |  |  | Total Loans |  |  | Accruing Loans 90 Days or More Past Due |
|  | (Dollars in thousands) |
As of December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-residential real estate owner occupied |  | $ | 635 |  |  | $ | — |  |  | $ | 269 |  |  | $ | 904 |  |  | $ | 482,731 |  |  | $ | 483,635 |  |  | $ | 70 |
Non-residential real estate other |  |  | 377 |  |  |  | 317 |  |  |  | 825 |  |  |  | 1,519 |  |  |  | 952,484 |  |  |  | 954,003 |  |  |  | — |
Residential real estate permanent mortgage |  |  | 2,010 |  |  |  | 758 |  |  |  | 544 |  |  |  | 3,312 |  |  |  | 304,267 |  |  |  | 307,579 |  |  |  | 172 |
Residential real estate all other |  |  | 1,820 |  |  |  | 194 |  |  |  | 1,488 |  |  |  | 3,502 |  |  |  | 633,586 |  |  |  | 637,088 |  |  |  | 387 |
Commercial and financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-consumer non-real estate |  |  | 841 |  |  |  | 71 |  |  |  | 793 |  |  |  | 1,705 |  |  |  | 965,002 |  |  |  | 966,707 |  |  |  | 24 |
Consumer non-real estate |  |  | 1,914 |  |  |  | 711 |  |  |  | 330 |  |  |  | 2,955 |  |  |  | 244,810 |  |  |  | 247,765 |  |  |  | 215 |
Other loans |  |  | 1,858 |  |  |  | 916 |  |  |  | 741 |  |  |  | 3,515 |  |  |  | 158,902 |  |  |  | 162,417 |  |  |  | — |
Acquired loans |  |  | 1,815 |  |  |  | 997 |  |  |  | 1,304 |  |  |  | 4,116 |  |  |  | 97,521 |  |  |  | 101,637 |  |  |  | 267 |
Total |  | $ | 11,270 |  |  | $ | 3,964 |  |  | $ | 6,294 |  |  | $ | 21,528 |  |  | $ | 3,839,303 |  |  | $ | 3,860,831 |  |  | $ | 1,135 |
As of December 31, 2013 |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-residential real estate owner occupied |  | $ | 411 |  |  | $ | — |  |  | $ | 316 |  |  | $ | 727 |  |  | $ | 454,305 |  |  | $ | 455,032 |  |  | $ | 96 |
Non-residential real estate other |  |  | 5,391 |  |  |  | 269 |  |  |  | 1,543 |  |  |  | 7,203 |  |  |  | 856,179 |  |  |  | 863,382 |  |  |  | 2 |
Residential real estate permanent mortgage |  |  | 2,000 |  |  |  | 566 |  |  |  | 789 |  |  |  | 3,355 |  |  |  | 262,625 |  |  |  | 265,980 |  |  |  | 275 |
Residential real estate all other |  |  | 2,159 |  |  |  | 211 |  |  |  | 1,272 |  |  |  | 3,642 |  |  |  | 564,231 |  |  |  | 567,873 |  |  |  | 184 |
Commercial and financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-consumer non-real estate |  |  | 1,122 |  |  |  | 118 |  |  |  | 1,047 |  |  |  | 2,287 |  |  |  | 793,028 |  |  |  | 795,315 |  |  |  | 125 |
Consumer non-real estate |  |  | 1,761 |  |  |  | 667 |  |  |  | 392 |  |  |  | 2,820 |  |  |  | 225,515 |  |  |  | 228,335 |  |  |  | 279 |
Other loans |  |  | 1,799 |  |  |  | 763 |  |  |  | 1,244 |  |  |  | 3,806 |  |  |  | 141,550 |  |  |  | 145,356 |  |  |  | — |
Acquired loans |  |  | 1,491 |  |  |  | 310 |  |  |  | 593 |  |  |  | 2,394 |  |  |  | 63,479 |  |  |  | 65,873 |  |  |  | 218 |
Total |  | $ | 16,134 |  |  | $ | 2,904 |  |  | $ | 7,196 |  |  | $ | 26,234 |  |  | $ | 3,360,912 |  |  | $ | 3,387,146 |  |  | $ | 1,179 |
Impaired Loans Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect the full amount of scheduled principal and interest payments in accordance with the original contractual terms of the loan agreement. If a loan is impaired, a specific valuation allowance may be allocated if necessary so that the loan is reported, net of allowance for loss, at the present value of future cash flows using the loan’s existing rate, or the fair value of collateral if repayment is expected solely from the collateral. The following table presents impaired loans, segregated by class of loans. No material amount of interest income was recognized on impaired loans subsequent to their classification as impaired.
|  | Impaired Loans |
|  | Unpaid Principal Balance |  |  | Recorded Investment with Allowance |  |  | Related Allowance |  |  | Average Recorded Investment |
|  | (Dollars in thousands) |
As of December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-residential real estate owner occupied |  | $ | 521 |  |  | $ | 448 |  |  | $ | 15 |  |  | $ | 453 |
Non-residential real estate other |  |  | 23,154 |  |  |  | 21,164 |  |  |  | 1,364 |  |  |  | 21,522 |
Residential real estate permanent mortgage |  |  | 1,095 |  |  |  | 880 |  |  |  | 85 |  |  |  | 1,042 |
Residential real estate all other |  |  | 2,480 |  |  |  | 2,270 |  |  |  | 299 |  |  |  | 2,273 |
Commercial and financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-consumer non-real estate |  |  | 1,895 |  |  |  | 1,580 |  |  |  | 431 |  |  |  | 1,646 |
Consumer non-real estate |  |  | 664 |  |  |  | 648 |  |  |  | 138 |  |  |  | 602 |
Other loans |  |  | 2,101 |  |  |  | 1,659 |  |  |  | 228 |  |  |  | 1,512 |
Acquired loans |  |  | 10,933 |  |  |  | 7,708 |  |  |  | — |  |  |  | 8,082 |
Total |  | $ | 42,843 |  |  | $ | 36,357 |  |  | $ | 2,560 |  |  | $ | 37,132 |
As of December 31, 2013 |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-residential real estate owner occupied |  | $ | 877 |  |  | $ | 752 |  |  | $ | 28 |  |  | $ | 881 |
Non-residential real estate other |  |  | 24,964 |  |  |  | 23,351 |  |  |  | 2,161 |  |  |  | 23,816 |
Residential real estate permanent mortgage |  |  | 1,253 |  |  |  | 1,025 |  |  |  | 58 |  |  |  | 1,170 |
Residential real estate all other |  |  | 2,214 |  |  |  | 1,803 |  |  |  | 361 |  |  |  | 1,857 |
Commercial and financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-consumer non-real estate |  |  | 1,801 |  |  |  | 1,459 |  |  |  | 388 |  |  |  | 1,553 |
Consumer non-real estate |  |  | 628 |  |  |  | 611 |  |  |  | 139 |  |  |  | 455 |
Other loans |  |  | 1,545 |  |  |  | 1,464 |  |  |  | 219 |  |  |  | 1,602 |
Acquired loans |  |  | 9,848 |  |  |  | 7,861 |  |  |  | 124 |  |  |  | 7,928 |
Total |  | $ | 43,130 |  |  | $ | 38,326 |  |  | $ | 3,478 |  |  | $ | 39,262 |
Credit Risk Monitoring and Loan Grading The Company considers various factors to monitor the credit risk in the loan portfolio including volume and severity of loan delinquencies, nonaccrual loans, internal grading of loans, historical loan loss experience and economic conditions. An internal risk grading system is used to indicate the credit risk of loans. The loan grades used by the Company are for internal risk identification purposes and do not directly correlate to regulatory classification categories or any financial reporting definitions. The general characteristics of the risk grades are as follows: Grade 1 – Acceptable - Loans graded 1 represent reasonable and satisfactory credit risk which requires normal attention and supervision. Capacity to repay through primary and/or secondary sources is not questioned. Grade 2 – Acceptable - Increased Attention - This category consists of loans that have credit characteristics deserving management’s close attention. These potential weaknesses could result in deterioration of the repayment prospects for the loan or the Bank’s credit position at some future date. Such credit characteristics include loans to highly leveraged borrowers in cyclical industries, adverse financial trends which could potentially weaken repayment capacity, loans that have fundamental structure deficiencies, loans lacking secondary sources of repayment where prudent, and loans with deficiencies in essential documentation, including financial information. Grade 3 – Loans with Problem Potential - This category consists of performing loans which are considered to exhibit problem potential. Loans in this category would generally include, but not be limited to, borrowers with a weakened financial condition or poor performance history, past dues, loans restructured to reduce payments to an amount that is below market standards and/or loans with severe documentation problems. In general, these loans have no identifiable loss potential in the near future, however; the possibility of a loss developing is heightened. Grade 4 - Problem Loans/Assets – Nonperforming - This category consists of nonperforming loans/assets which are considered to be problems. Nonperforming loans are described as being 90 days and over past due and still accruing, and loans that are nonaccrual. The government guaranteed portion of Small Business Administration (“SBA”) loans is excluded. Grade 5 - Loss Potential - This category consists of loans/assets which are considered to possess loss potential. While the loss may not occur in the current year, management expects that loans/assets in this category will ultimately result in a loss, unless substantial improvement occurs. Grade 6 - Charge Off - This category consists of loans that are considered uncollectible and other assets with little or no value. The following table presents internal loan grading by class of loans:
|  | Internal Loan Grading |
|  | Grade |
|  | 1 |  |  | 2 |  |  | 3 |  |  | 4 |  |  | 5 |  |  | Total |
|  | (Dollars in thousands) |
As of December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-residential real estate owner occupied |  | $ | 402,706 |  |  | $ | 75,555 |  |  | $ | 5,008 |  |  | $ | 366 |  |  | $ | — |  |  | $ | 483,635 |
Non-residential real estate other |  |  | 795,209 |  |  |  | 133,542 |  |  |  | 20,126 |  |  |  | 5,126 |  |  |  | — |  |  |  | 954,003 |
Residential real estate permanent mortgage |  |  | 272,411 |  |  |  | 27,855 |  |  |  | 6,369 |  |  |  | 944 |  |  |  | — |  |  |  | 307,579 |
Residential real estate all other |  |  | 529,555 |  |  |  | 99,214 |  |  |  | 6,146 |  |  |  | 2,173 |  |  |  | — |  |  |  | 637,088 |
Commercial and financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-consumer non-real estate |  |  | 821,094 |  |  |  | 117,457 |  |  |  | 26,550 |  |  |  | 1,606 |  |  |  | — |  |  |  | 966,707 |
Consumer non-real estate |  |  | 233,424 |  |  |  | 12,229 |  |  |  | 1,548 |  |  |  | 564 |  |  |  | — |  |  |  | 247,765 |
Other loans |  |  | 157,191 |  |  |  | 4,261 |  |  |  | 601 |  |  |  | 173 |  |  |  | 191 |  |  |  | 162,417 |
Acquired loans |  |  | 46,465 |  |  |  | 36,951 |  |  |  | 12,651 |  |  |  | 5,206 |  |  |  | 364 |  |  |  | 101,637 |
Total |  | $ | 3,258,055 |  |  | $ | 507,064 |  |  | $ | 78,999 |  |  | $ | 16,158 |  |  | $ | 555 |  |  | $ | 3,860,831 |
As of December 31, 2013 |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-residential real estate owner occupied |  | $ | 382,798 |  |  | $ | 66,139 |  |  | $ | 5,446 |  |  | $ | 649 |  |  | $ | — |  |  | $ | 455,032 |
Non-residential real estate other |  |  | 711,081 |  |  |  | 125,617 |  |  |  | 20,309 |  |  |  | 6,375 |  |  |  | — |  |  |  | 863,382 |
Residential real estate permanent mortgage |  |  | 233,924 |  |  |  | 24,882 |  |  |  | 6,081 |  |  |  | 1,093 |  |  |  | — |  |  |  | 265,980 |
Residential real estate all other |  |  | 475,421 |  |  |  | 82,571 |  |  |  | 8,238 |  |  |  | 1,643 |  |  |  | — |  |  |  | 567,873 |
Commercial and financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-consumer non-real estate |  |  | 691,772 |  |  |  | 97,812 |  |  |  | 4,462 |  |  |  | 1,269 |  |  |  | — |  |  |  | 795,315 |
Consumer non-real estate |  |  | 214,153 |  |  |  | 11,819 |  |  |  | 1,931 |  |  |  | 431 |  |  |  | 1 |  |  |  | 228,335 |
Other loans |  |  | 141,787 |  |  |  | 2,558 |  |  |  | 772 |  |  |  | 239 |  |  |  | — |  |  |  | 145,356 |
Acquired loans |  |  | 47,220 |  |  |  | 11,980 |  |  |  | 3,766 |  |  |  | 2,907 |  |  |  | — |  |  |  | 65,873 |
Total |  | $ | 2,898,156 |  |  | $ | 423,378 |  |  | $ | 51,005 |  |  | $ | 14,606 |  |  | $ | 1 |  |  | $ | 3,387,146 |
Allowance for Loan Losses Methodology The allowance for loan losses (“ALL”) is determined by a calculation based on segmenting the loans into the following categories: (1) adversely graded loans [Grades 3, 4 and 5] that have a specific reserve allocation; (2) loans without a specific reserve segmented by loans secured by real estate other than 1-4 family residential property, loans secured by 1-4 family residential property, commercial, industrial and agricultural loans not secured by real estate, consumer purpose loans not secured by real estate, and loans over 60 days past due that are not otherwise Grade 3, 4, or 5; (3) Grade 2 loans; (4) Grade 1 loans and (5) loans held for sale which are excluded. The ALL is calculated as the sum of the following: (1) the total dollar amount of specific reserve allocations; (2) the dollar amount derived by multiplying each segment of adversely graded loans without a specific reserve allocation times its respective reserve factor; (3) the dollar amount derived by multiplying Grade 2 loans and Grade 1 loans (less certain exclusions) times the respective reserve factor; and (4) other adjustments as deemed appropriate and documented by the Senior Loan Committee or Board of Directors. The amount of the ALL is an estimate based upon factors which are subject to rapid change due to changing economic conditions and the economic prospects of borrowers. It is reasonably possible that a material change could occur in the estimated ALL in the near term. The following table details activity in the ALL by class of loans for the period presented. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.
|  | ALL |
|  | Balance at beginning of period |  |  | Charge- offs |  |  | Recoveries |  |  | Net charge- offs |  |  | Provisions charged to operations |  |  | Balance at end of period |
|  | (Dollars in thousands) |
As of December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-residential real estate owner occupied |  | $ | 4,827 |  |  | $ | (42 | ) |  | $ | 102 |  |  | $ | 60 |  |  | $ | (481 | ) |  | $ | 4,406 |
Non-residential real estate other |  |  | 11,026 |  |  |  | (29 | ) |  |  | 49 |  |  |  | 20 |  |  |  | (1,430 | ) |  |  | 9,616 |
Residential real estate permanent mortgage |  |  | 2,825 |  |  |  | (207 | ) |  |  | 78 |  |  |  | (129 | ) |  |  | 252 |  |  |  | 2,948 |
Residential real estate all other |  |  | 6,708 |  |  |  | (171 | ) |  |  | 32 |  |  |  | (139 | ) |  |  | (300 | ) |  |  | 6,269 |
Commercial and financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-consumer non-real estate |  |  | 8,977 |  |  |  | (564 | ) |  |  | 70 |  |  |  | (494 | ) |  |  | 4,288 |  |  |  | 12,771 |
Consumer non-real estate |  |  | 2,556 |  |  |  | (687 | ) |  |  | 203 |  |  |  | (484 | ) |  |  | 332 |  |  |  | 2,404 |
Other loans |  |  | 1,991 |  |  |  | (351 | ) |  |  | 149 |  |  |  | (202 | ) |  |  | 570 |  |  |  | 2,359 |
Acquired loans |  |  | 124 |  |  |  | (568 | ) |  |  | 719 |  |  |  | 151 |  |  |  | (159 | ) |  |  | 116 |
Total |  | $ | 39,034 |  |  | $ | (2,619 | ) |  | $ | 1,402 |  |  | $ | (1,217 | ) |  | $ | 3,072 |  |  | $ | 40,889 |
As of December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-residential real estate owner occupied |  | $ | 5,104 |  |  | $ | (3 | ) |  | $ | 20 |  |  | $ | 17 |  |  | $ | (294 | ) |  | $ | 4,827 |
Non-residential real estate other |  |  | 9,865 |  |  |  | (19 | ) |  |  | 12 |  |  |  | (7 | ) |  |  | 1,168 |  |  |  | 11,026 |
Residential real estate permanent mortgage |  |  | 2,781 |  |  |  | (162 | ) |  |  | 32 |  |  |  | (130 | ) |  |  | 174 |  |  |  | 2,825 |
Residential real estate all other |  |  | 7,034 |  |  |  | (209 | ) |  |  | 33 |  |  |  | (176 | ) |  |  | (150 | ) |  |  | 6,708 |
Commercial and financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-consumer non-real estate |  |  | 9,385 |  |  |  | (217 | ) |  |  | 175 |  |  |  | (42 | ) |  |  | (366 | ) |  |  | 8,977 |
Consumer non-real estate |  |  | 2,451 |  |  |  | (597 | ) |  |  | 225 |  |  |  | (372 | ) |  |  | 477 |  |  |  | 2,556 |
Other loans |  |  | 1,885 |  |  |  | (300 | ) |  |  | 75 |  |  |  | (225 | ) |  |  | 331 |  |  |  | 1,991 |
Acquired loans |  |  | 220 |  |  |  | (53 | ) |  |  | 39 |  |  |  | (14 | ) |  |  | (82 | ) |  |  | 124 |
Total |  | $ | 38,725 |  |  | $ | (1,560 | ) |  | $ | 611 |  |  | $ | (949 | ) |  | $ | 1,258 |  |  | $ | 39,034 |
The following table details the amount of ALL by class of loans for the period presented, on the basis of the impairment methodology used by the Company.
|  | December 31, 2014 |  |  | December 31, 2013 |
|  | (Dollars in thousands) |
|  | Individually evaluated for impairment |  |  | Collectively evaluated for impairment |  |  | Individually evaluated for impairment |  |  | Collectively evaluated for impairment |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-residential real estate owner occupied |  | $ | 202 |  |  | $ | 4,204 |  |  | $ | 231 |  |  | $ | 4,596 |
Non-residential real estate other |  |  | 1,518 |  |  |  | 8,098 |  |  |  | 2,449 |  |  |  | 8,577 |
Residential real estate permanent mortgage |  |  | 407 |  |  |  | 2,541 |  |  |  | 243 |  |  |  | 2,582 |
Residential real estate all other |  |  | 743 |  |  |  | 5,526 |  |  |  | 994 |  |  |  | 5,714 |
Commercial and financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-consumer non-real estate |  |  | 4,671 |  |  |  | 8,100 |  |  |  | 966 |  |  |  | 8,011 |
Consumer non-real estate |  |  | 372 |  |  |  | 2,032 |  |  |  | 334 |  |  |  | 2,222 |
Other loans |  |  | 214 |  |  |  | 2,145 |  |  |  | 252 |  |  |  | 1,739 |
Acquired loans |  |  | — |  |  |  | 116 |  |  |  | — |  |  |  | 124 |
Total |  | $ | 8,127 |  |  | $ | 32,762 |  |  | $ | 5,469 |  |  | $ | 33,565 |
The following table details the loans outstanding by class of loans for the period presented, on the basis of the impairment methodology used by the Company.
|  | Loans |
|  | December 31, 2014 |  |  | December 31, 2013 |
|  | (Dollars in thousands) |
|  | Individually evaluated for impairment |  |  | Collectively evaluated for impairment |  |  | Loans acquired with deteriorated credit quality |  |  | Individually evaluated for impairment |  |  | Collectively evaluated for impairment |  |  | Loans acquired with deteriorated credit quality |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-residential real estate owner occupied |  | $ | 5,374 |  |  | $ | 478,261 |  |  | $ | — |  |  | $ | 6,095 |  |  | $ | 448,937 |  |  | $ | — |
Non-residential real estate other |  |  | 25,251 |  |  |  | 928,752 |  |  |  | — |  |  |  | 26,684 |  |  |  | 836,698 |  |  |  | — |
Residential real estate permanent mortgage |  |  | 7,313 |  |  |  | 300,266 |  |  |  | — |  |  |  | 7,174 |  |  |  | 258,806 |  |  |  | — |
Residential real estate all other |  |  | 8,319 |  |  |  | 628,769 |  |  |  | — |  |  |  | 9,881 |  |  |  | 557,992 |  |  |  | — |
Commercial and financial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-consumer non-real estate |  |  | 28,156 |  |  |  | 938,551 |  |  |  | — |  |  |  | 5,731 |  |  |  | 789,584 |  |  |  | — |
Consumer non-real estate |  |  | 2,112 |  |  |  | 245,653 |  |  |  | — |  |  |  | 2,362 |  |  |  | 225,972 |  |  |  | — |
Other loans |  |  | 233 |  |  |  | 162,184 |  |  |  | — |  |  |  | 317 |  |  |  | 145,039 |  |  |  | — |
Acquired loans |  |  | — |  |  |  | 83,416 |  |  |  | 18,221 |  |  |  | — |  |  |  | 59,200 |  |  |  | 6,674 |
Total |  | $ | 76,758 |  |  | $ | 3,765,852 |  |  | $ | 18,221 |  |  | $ | 58,244 |  |  | $ | 3,322,228 |  |  | $ | 6,674 |
The following table is a summary of amounts included in the ALL for impaired loans with specific reserves and the recorded balance of the related loans. No material amounts of interest income were collected on impaired loans with specific reserves for 2014, 2013 or 2012.
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (Dollars in thousands) |
Allowance for loss on impaired loans |  | $ | 1,559 |  |  | $ | 1,578 |  |  | $ | 2,170 |
Recorded balance of impaired loans |  |  | 3,673 |  |  |  | 5,283 |  |  |  | 6,185 |
Average recorded investment |  |  | 4,478 |  |  |  | 5,734 |  |  |  | 8,416 |
Transfers from Loans Transfers from loans to other real estate owned and repossessed assets are non-cash transactions, and are not included in the statements of cash flow. Transfers from loans to other real estate owned and repossessed assets during the periods presented are summarized as follows:
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (Dollars in thousands) |
Other real estate owned |  | $ | 3,573 |  |  | $ | 1,710 |  |  | $ | 2,543 |
Repossessed assets |  |  | 1,209 |  |  |  | 1,171 |  |  |  | 1,034 |
Total |  | $ | 4,782 |  |  | $ | 2,881 |  |  | $ | 3,577 |
Related Party Loans The Company has made loans in the ordinary course of business to the executive officers and directors of the Company and to certain affiliates of these executive officers and directors. Management believes that all such loans were made on substantially the same terms as those prevailing at the time for comparable transactions with other persons and do not represent more than a normal risk of collectability or present other unfavorable features. A summary of these loans is as follows:
Year Ended December 31, |  | Balance Beginning of the Period |  |  | Additions |  |  | Collections/ Terminations |  |  | Balance End of the Period |
| (Dollars in thousands) |
2014 |  | $ | 27,134 |  |  | $ | 22,521 |  |  | $ | (24,636 | ) |  | $ | 25,019 |
2013 |  |  | 29,030 |  |  |  | 11,979 |  |  |  | (13,875 | ) |  |  | 27,134 |
2012 |  |  | 25,264 |  |  |  | 24,706 |  |  |  | (20,940 | ) |  |  | 29,030 |

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