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Allowance for Loan Losses (Tables) | 9 Months Ended
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Sep. 30, 2019
Receivables [Abstract] |
Summary of total non purchased and purchased loans | The following is a summary of non purchased loans and leases as of the dates presented:
| September 30, 2019 |  | December 31, 2018
Commercial, financial, agricultural | $ | 988,867 |  |  | $ | 875,649 |
Lease financing | 73,617 |  |  | 64,992 |
Real estate – construction | 764,589 |  |  | 635,519 |
Real estate – 1-4 family mortgage | 2,235,908 |  |  | 2,087,890 |
Real estate – commercial mortgage | 2,809,470 |  |  | 2,628,365 |
Installment loans to individuals | 163,031 |  |  | 100,424 |
Gross loans | 7,035,482 |  |  | 6,392,839 |
Unearned income | (3,664 | ) |  | (3,127 | )
Loans, net of unearned income | $ | 7,031,818 |  |  | $ | 6,389,712 |
The following is a summary of purchased loans as of the dates presented:
| September 30, 2019 |  | December 31, 2018
Commercial, financial, agricultural | $ | 339,693 |  |  | $ | 420,263 |
Real estate – construction | 52,106 |  |  | 105,149 |
Real estate – 1-4 family mortgage | 561,725 |  |  | 707,453 |
Real estate – commercial mortgage | 1,212,905 |  |  | 1,423,144 |
Installment loans to individuals | 115,537 |  |  | 37,408 |
Gross loans | 2,281,966 |  |  | 2,693,417 |
Unearned income | — |  |  | — |
Loans, net of unearned income | $ | 2,281,966 |  |  | $ | 2,693,417 |
The following is a summary of total non purchased and purchased loans as of the dates presented:
| September 30, 2019 |  | December 31, 2018
Commercial, financial, agricultural | $ | 1,328,560 |  |  | $ | 1,295,912 |
Lease financing | 73,617 |  |  | 64,992 |
Real estate – construction | 816,695 |  |  | 740,668 |
Real estate – 1-4 family mortgage | 2,797,633 |  |  | 2,795,343 |
Real estate – commercial mortgage | 4,022,375 |  |  | 4,051,509 |
Installment loans to individuals | 278,568 |  |  | 137,832 |
Gross loans | 9,317,448 |  |  | 9,086,256 |
Unearned income | (3,664 | ) |  | (3,127 | )
Loans, net of unearned income | 9,313,784 |  |  | 9,083,129 |
Allowance for loan losses | (50,814 | ) |  | (49,026 | )
Net loans | $ | 9,262,970 |  |  | $ | 9,034,103 |
Roll forward of the allowance for loan losses | The following table provides a roll forward of the allowance for loan losses by loan category and a breakdown of the ending balance of the allowance based on the Company’s impairment methodology for the periods presented:
| Commercial |  | Real Estate - Construction |  | Real Estate - 1-4 Family Mortgage |  | Real Estate - Commercial Mortgage |  | Installment and Other(1) |  | Total
Three Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 9,534 |  |  | $ | 5,302 |  |  | $ | 9,616 |  |  | $ | 24,302 |  |  | $ | 1,305 |  |  | $ | 50,059 |
Charge-offs | (757 | ) |  | — |  |  | (268 | ) |  | (677 | ) |  | (3,263 | ) |  | (4,965 | )
Recoveries | 761 |  |  | — |  |  | 219 |  |  | 33 |  |  | 3,007 |  |  | 4,020 |
Net recoveries (charge-offs) | 4 |  |  | — |  |  | (49 | ) |  | (644 | ) |  | (256 | ) |  | (945 | )
Provision for loan losses charged to operations | 750 |  |  | (175 | ) |  | 282 |  |  | 381 |  |  | 462 |  |  | 1,700 |
Ending balance | $ | 10,288 |  |  | $ | 5,127 |  |  | $ | 9,849 |  |  | $ | 24,039 |  |  | $ | 1,511 |  |  | $ | 50,814 |
| Commercial |  | Real Estate - Construction |  | Real Estate - 1-4 Family Mortgage |  | Real Estate - Commercial Mortgage |  | Installment and Other(1) |  | Total
Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 8,269 |  |  | $ | 4,755 |  |  | $ | 10,139 |  |  | $ | 24,492 |  |  | $ | 1,371 |  |  | $ | 49,026 |
Charge-offs | (1,709 | ) |  | — |  |  | (1,143 | ) |  | (1,406 | ) |  | (3,695 | ) |  | (7,953 | )
Recoveries | 1,376 |  |  | 7 |  |  | 531 |  |  | 644 |  |  | 3,083 |  |  | 5,641 |
Net (charge-offs) recoveries | (333 | ) |  | 7 |  |  | (612 | ) |  | (762 | ) |  | (612 | ) |  | (2,312 | )
Provision for loan losses charged to operations | 2,352 |  |  | 365 |  |  | 322 |  |  | 309 |  |  | 752 |  |  | 4,100 |
Ending balance | $ | 10,288 |  |  | $ | 5,127 |  |  | $ | 9,849 |  |  | $ | 24,039 |  |  | $ | 1,511 |  |  | $ | 50,814 |
Period-End Amount Allocated to: |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 1,382 |  |  | $ | 24 |  |  | $ | 186 |  |  | $ | 450 |  |  | $ | 3 |  |  | $ | 2,045 |
Collectively evaluated for impairment | 8,778 |  |  | 5,103 |  |  | 9,313 |  |  | 21,521 |  |  | 1,506 |  |  | 46,221 |
Purchased with deteriorated credit quality | 128 |  |  | — |  |  | 350 |  |  | 2,068 |  |  | 2 |  |  | 2,548 |
Ending balance | $ | 10,288 |  |  | $ | 5,127 |  |  | $ | 9,849 |  |  | $ | 24,039 |  |  | $ | 1,511 |  |  | $ | 50,814 |
(1) | Includes lease financing receivables.
| Commercial |  | Real Estate - Construction |  | Real Estate - 1-4 Family Mortgage |  | Real Estate - Commercial Mortgage |  | Installment and Other(1) |  | Total
Three Months Ended September 30, 2018 |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 7,146 |  |  | $ | 4,702 |  |  | $ | 11,657 |  |  | $ | 22,450 |  |  | $ | 1,400 |  |  | $ | 47,355 |
Charge-offs | (511 | ) |  | — |  |  | (211 | ) |  | (216 | ) |  | (402 | ) |  | (1,340 | )
Recoveries | 24 |  |  | 3 |  |  | 119 |  |  | 152 |  |  | 47 |  |  | 345 |
Net (charge-offs) recoveries | (487 | ) |  | 3 |  |  | (92 | ) |  | (64 | ) |  | (355 | ) |  | (995 | )
Provision for loan losses charged to operations | 1,448 |  |  | 8 |  |  | (1,497 | ) |  | 2,041 |  |  | 250 |  |  | 2,250 |
Ending balance | $ | 8,107 |  |  | $ | 4,713 |  |  | $ | 10,068 |  |  | $ | 24,427 |  |  | $ | 1,295 |  |  | $ | 48,610 |
| Commercial |  | Real Estate - Construction |  | Real Estate - 1-4 Family Mortgage |  | Real Estate - Commercial Mortgage |  | Installment and Other(1) |  | Total
Nine Months Ended September 30, 2018 |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 5,542 |  |  | $ | 3,428 |  |  | $ | 12,009 |  |  | $ | 23,384 |  |  | $ | 1,848 |  |  | $ | 46,211 |
Charge-offs | (1,627 | ) |  | — |  |  | (1,861 | ) |  | (875 | ) |  | (623 | ) |  | (4,986 | )
Recoveries | 373 |  |  | 10 |  |  | 335 |  |  | 756 |  |  | 101 |  |  | 1,575 |
Net (charge-offs) recoveries | (1,254 | ) |  | 10 |  |  | (1,526 | ) |  | (119 | ) |  | (522 | ) |  | (3,411 | )
Provision for loan losses charged to operations | 3,819 |  |  | 1,275 |  |  | (415 | ) |  | 1,162 |  |  | (31 | ) |  | 5,810 |
Ending balance | $ | 8,107 |  |  | $ | 4,713 |  |  | $ | 10,068 |  |  | $ | 24,427 |  |  | $ | 1,295 |  |  | $ | 48,610 |
Period-End Amount Allocated to: |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 421 |  |  | $ | 70 |  |  | $ | 70 |  |  | $ | 715 |  |  | $ | 4 |  |  | $ | 1,280 |
Collectively evaluated for impairment | 7,326 |  |  | 4,643 |  |  | 9,493 |  |  | 21,751 |  |  | 1,289 |  |  | 44,502 |
Purchased with deteriorated credit quality | 360 |  |  | — |  |  | 505 |  |  | 1,961 |  |  | 2 |  |  | 2,828 |
Ending balance | $ | 8,107 |  |  | $ | 4,713 |  |  | $ | 10,068 |  |  | $ | 24,427 |  |  | $ | 1,295 |  |  | $ | 48,610 |
(1) Includes lease financing receivables.
Investment in loans, net of unearned income on impairment methodology | The following table presents the fair value of loans purchased from Brand as of the September 1, 2018 acquisition date.
At acquisition date: |  | September 1, 2018
Contractually-required principal and interest |  | $ | 1,625,079 |
Nonaccretable difference |  | (164,554 | )
Cash flows expected to be collected |  | 1,460,525 |
Accretable yield |  | (138,318 | )
Fair value |  | $ | 1,322,207 |
The following table provides the recorded investment in loans, net of unearned income, based on the Company’s impairment methodology as of the dates presented:
| Commercial |  | Real Estate - Construction |  | Real Estate - 1-4 Family Mortgage |  | Real Estate - Commercial Mortgage |  | Installment and Other(1) |  | Total
September 30, 2019 |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 8,124 |  |  | $ | 12,380 |  |  | $ | 17,332 |  |  | $ | 11,755 |  |  | $ | 455 |  |  | $ | 50,046 |
Collectively evaluated for impairment | 1,289,326 |  |  | 803,710 |  |  | 2,742,677 |  |  | 3,894,838 |  |  | 345,073 |  |  | 9,075,624 |
Purchased with deteriorated credit quality | 31,110 |  |  | 605 |  |  | 37,624 |  |  | 115,782 |  |  | 2,993 |  |  | 188,114 |
Ending balance | $ | 1,328,560 |  |  | $ | 816,695 |  |  | $ | 2,797,633 |  |  | $ | 4,022,375 |  |  | $ | 348,521 |  |  | $ | 9,313,784 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 2,445 |  |  | $ | 10,043 |  |  | $ | 14,238 |  |  | $ | 8,059 |  |  | $ | 493 |  |  | $ | 35,278 |
Collectively evaluated for impairment | 1,264,324 |  |  | 730,625 |  |  | 2,732,862 |  |  | 3,903,012 |  |  | 194,774 |  |  | 8,825,597 |
Purchased with deteriorated credit quality | 29,143 |  |  | — |  |  | 48,243 |  |  | 140,438 |  |  | 4,430 |  |  | 222,254 |
Ending balance | $ | 1,295,912 |  |  | $ | 740,668 |  |  | $ | 2,795,343 |  |  | $ | 4,051,509 |  |  | $ | 199,697 |  |  | $ | 9,083,129 |
(1) Includes lease financing receivables.

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