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Non Purchased Loans | 12 Months Ended
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Dec. 31, 2019
Receivables [Abstract] |
Non Purchased Loans | Non Purchased Loans (In Thousands, Except Number of Loans) “Purchased” loans are those loans acquired in any of the Company’s previous acquisitions, including FDIC-assisted acquisitions. “Non purchased” loans include all of the Company’s other loans, other than loans held for sale. For purposes of this Note 4, all references to “loans” mean non purchased loans. The following is a summary of non purchased loans and leases at December 31:
| 2019 |  | 2018
Commercial, financial, agricultural | $ | 1,052,353 |  |  | $ | 875,649 |
Lease financing | 85,700 |  |  | 64,992 |
Real estate – construction | 774,901 |  |  | 635,519 |
Real estate – 1-4 family mortgage | 2,350,126 |  |  | 2,087,890 |
Real estate – commercial mortgage | 3,128,876 |  |  | 2,628,365 |
Installment loans to individuals | 199,843 |  |  | 100,424 |
Gross loans | 7,591,799 |  |  | 6,392,839 |
Unearned income | (3,825 | ) |  | (3,127 | )
Loans, net of unearned income | $ | 7,587,974 |  |  | $ | 6,389,712 |
Past Due and Nonaccrual Loans The following table provides an aging of past due and nonaccrual loans, segregated by class, as of the dates presented:
| Accruing Loans |  | Nonaccruing Loans
| 30-89 Days Past Due |  | 90 Days or More Past Due |  | Current Loans |  | Total Loans |  | 30-89 Days Past Due |  | 90 Days or More Past Due |  | Current Loans |  | Total Loans |  | Total Loans
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 605 |  |  | $ | 476 |  |  | $ | 1,045,802 |  |  | $ | 1,046,883 |  |  | $ | 387 |  |  | $ | 5,023 |  |  | $ | 60 |  |  | $ | 5,470 |  |  | $ | 1,052,353 |
Lease financing | — |  |  | — |  |  | 85,474 |  |  | 85,474 |  |  | — |  |  | 226 |  |  | — |  |  | 226 |  |  | 85,700 |
Real estate – construction | 794 |  |  | — |  |  | 774,107 |  |  | 774,901 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 774,901 |
Real estate – 1-4 family mortgage | 18,020 |  |  | 2,502 |  |  | 2,320,328 |  |  | 2,340,850 |  |  | 623 |  |  | 6,571 |  |  | 2,082 |  |  | 9,276 |  |  | 2,350,126 |
Real estate – commercial mortgage | 2,362 |  |  | 276 |  |  | 3,119,785 |  |  | 3,122,423 |  |  | 372 |  |  | 4,655 |  |  | 1,426 |  |  | 6,453 |  |  | 3,128,876 |
Installment loans to individuals | 1,000 |  |  | 204 |  |  | 198,555 |  |  | 199,759 |  |  | — |  |  | 17 |  |  | 67 |  |  | 84 |  |  | 199,843 |
Unearned income | — |  |  | — |  |  | (3,825 | ) |  | (3,825 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (3,825 | )
Total | $ | 22,781 |  |  | $ | 3,458 |  |  | $ | 7,540,226 |  |  | $ | 7,566,465 |  |  | $ | 1,382 |  |  | $ | 16,492 |  |  | $ | 3,635 |  |  | $ | 21,509 |  |  | $ | 7,587,974 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 3,397 |  |  | $ | 267 |  |  | $ | 870,457 |  |  | $ | 874,121 |  |  | $ | — |  |  | $ | 1,356 |  |  | $ | 172 |  |  | $ | 1,528 |  |  | $ | 875,649 |
Lease financing | 607 |  |  | 89 |  |  | 64,296 |  |  | 64,992 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 64,992 |
Real estate – construction | 887 |  |  | — |  |  | 634,632 |  |  | 635,519 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 635,519 |
Real estate – 1-4 family mortgage | 10,378 |  |  | 2,151 |  |  | 2,071,401 |  |  | 2,083,930 |  |  | 238 |  |  | 2,676 |  |  | 1,046 |  |  | 3,960 |  |  | 2,087,890 |
Real estate – commercial mortgage | 1,880 |  |  | 13 |  |  | 2,621,902 |  |  | 2,623,795 |  |  | — |  |  | 2,974 |  |  | 1,596 |  |  | 4,570 |  |  | 2,628,365 |
Installment loans to individuals | 368 |  |  | 165 |  |  | 99,731 |  |  | 100,264 |  |  | 3 |  |  | 157 |  |  | — |  |  | 160 |  |  | 100,424 |
Unearned income | — |  |  | — |  |  | (3,127 | ) |  | (3,127 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (3,127 | )
Total | $ | 17,517 |  |  | $ | 2,685 |  |  | $ | 6,359,292 |  |  | $ | 6,379,494 |  |  | $ | 241 |  |  | $ | 7,163 |  |  | $ | 2,814 |  |  | $ | 10,218 |  |  | $ | 6,389,712 |
Restructured loans that are not performing in accordance with their restructured terms that are either contractually 90 days or more past due or placed on nonaccrual status are reported as nonperforming loans. There were two restructured loans totaling $164 that were contractually 90 days past due or more and still accruing at December 31, 2019. There was one restructured loan totaling $41 that was contractually 90 days past due or more and still accruing at December 31, 2018. The outstanding balance of restructured loans on nonaccrual status was $3,058 and $3,128 at December 31, 2019 and 2018, respectively. Impaired Loans Impaired loans recognized in conformity with ASC 310, segregated by class, were as follows as of the dates and for the periods presented:
| As of December 31, 2019 |  | Year Ended December 31, 2019
| Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized
With a related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 5,722 |  |  | $ | 6,623 |  |  | $ | 1,222 |  |  | $ | 6,787 |  |  | $ | 30 |
Lease financing | 226 |  |  | 226 |  |  | 3 |  |  | 231 |  |  | — |
Real estate – construction | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – 1-4 family mortgage | 13,689 |  |  | 14,018 |  |  | 143 |  |  | 14,364 |  |  | 200 |
Real estate – commercial mortgage | 7,361 |  |  | 8,307 |  |  | 390 |  |  | 7,034 |  |  | 120 |
Installment loans to individuals | 84 |  |  | 91 |  |  | 1 |  |  | 97 |  |  | 2 |
Total | $ | 27,082 |  |  | $ | 29,265 |  |  | $ | 1,759 |  |  | $ | 28,513 |  |  | $ | 352 |
With no related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | 9,145 |  |  | 9,145 |  |  | — |  |  | 8,516 |  |  | 438 |
Real estate – 1-4 family mortgage | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – commercial mortgage | 1,080 |  |  | 2,760 |  |  | — |  |  | 1,159 |  |  | 33 |
Installment loans to individuals | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 10,225 |  |  | $ | 11,905 |  |  | $ | — |  |  | $ | 9,675 |  |  | $ | 471 |
Totals | $ | 37,307 |  |  | $ | 41,170 |  |  | $ | 1,759 |  |  | $ | 38,188 |  |  | $ | 823 |
| As of December 31, 2018 |  | Year Ended December 31, 2018
| Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized
With a related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 1,834 |  |  | $ | 2,280 |  |  | $ | 163 |  |  | $ | 2,079 |  |  | $ | 35 |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | 7,302 |  |  | 7,302 |  |  | 63 |  |  | 7,180 |  |  | 162 |
Real estate – 1-4 family mortgage | 9,077 |  |  | 9,767 |  |  | 61 |  |  | 9,212 |  |  | 191 |
Real estate – commercial mortgage | 4,609 |  |  | 5,765 |  |  | 689 |  |  | 4,889 |  |  | 72 |
Installment loans to individuals | 223 |  |  | 232 |  |  | 1 |  |  | 239 |  |  | 2 |
Total | $ | 23,045 |  |  | $ | 25,346 |  |  | $ | 977 |  |  | $ | 23,599 |  |  | $ | 462 |
With no related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | 2,165 |  |  | 2,165 |  |  | — |  |  | 2,165 |  |  | 55 |
Real estate – 1-4 family mortgage | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – commercial mortgage | 1,238 |  |  | 2,860 |  |  | — |  |  | 1,316 |  |  | 32 |
Installment loans to individuals | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 3,403 |  |  | $ | 5,025 |  |  | $ | — |  |  | $ | 3,481 |  |  | $ | 87 |
Totals | $ | 26,448 |  |  | $ | 30,371 |  |  | $ | 977 |  |  | $ | 27,080 |  |  | $ | 549 |
The average recorded investment in impaired loans for the year ended December 31, 2017 was $21,998. Interest income recognized on impaired loans for the year ended December 31, 2017 was $573. Restructured Loans At December 31, 2019, 2018 and 2017, there were $4,679, $5,325 and $5,588, respectively, of restructured loans. The following table illustrates the impact of modifications classified as restructured loans held on the Consolidated Balance Sheets and still performing in accordance with their restructured terms at period end, segregated by class, as of the periods presented.
| Number of Loans |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
December 31, 2019 |  |  |  |  |
Commercial, financial, agricultural | 2 |  |  | $ | 187 |  |  | $ | 185 |
Real estate – 1-4 family mortgage | 5 |  |  | 460 |  |  | 459 |
Total | 7 |  |  | $ | 647 |  |  | $ | 644 |
December 31, 2018 |  |  |  |  |
Real estate – 1-4 family mortgage | 9 |  |  | $ | 1,764 |  |  | $ | 1,763 |
Real estate – commercial mortgage | 2 |  |  | 94 |  |  | 89 |
Total | 11 |  |  | $ | 1,858 |  |  | $ | 1,852 |
December 31, 2017 |  |  |  |  |
Commercial, financial, agricultural | 2 |  |  | $ | 331 |  |  | $ | 330 |
Real estate – 1-4 family mortgage | 8 |  |  | 598 |  |  | 586 |
Real estate – commercial mortgage | 3 |  |  | 683 |  |  | 313 |
Installment loans to individuals | 1 |  |  | 4 |  |  | 3 |
Total | 14 |  |  | $ | 1,616 |  |  | $ | 1,232 |
At December 31, 2018 and December 31, 2017 the Company had $139 and $184, respectively, in troubled debt restructurings that subsequently defaulted within twelve months of the restructuring. There were no such occurrences for the year ended December 31, 2019. Changes in the Company’s restructured loans are set forth in the table below.
| Number of Loans |  | Recorded Investment
Totals at January 1, 2018 | 54 |  |  | $ | 5,588 |
Additional advances or loans with concessions | 11 |  |  | 1,861 |
Reclassified as performing | 3 |  |  | 295 |
Reductions due to: |  |  |
Reclassified as nonperforming | (8 | ) |  | (639 | )
Paid in full | (9 | ) |  | (1,556 | )
Principal paydowns | — |  |  | (224 | )
Totals at December 31, 2018 | 51 |  |  | $ | 5,325 |
Additional advances or loans with concessions | 7 |  |  | 661 |
Reclassified as performing | 5 |  |  | 252 |
Reductions due to: |  |  |
Reclassified as nonperforming | (9 | ) |  | (808 | )
Paid in full | (8 | ) |  | (581 | )
Principal paydowns | — |  |  | (170 | )
Totals at December 31, 2019 | 46 |  |  | $ | 4,679 |
The allocated allowance for loan losses attributable to restructured loans was $125 and $34 at December 31, 2019 and 2018, respectively. The Company had no remaining availability under commitments to lend additional funds on these restructured loans at December 31, 2019 and $42 in remaining availability under commitments to lend additional funds on these restructured loans at December 31, 2018. Credit Quality For commercial and commercial real estate secured loans, internal risk-rating grades are assigned by lending, credit administration or loan review personnel, based on an analysis of the financial and collateral strength and other credit attributes underlying each loan. Management analyzes the resulting ratings, as well as other external statistics and factors such as delinquency, to track the migration performance of the portfolio balances of commercial and commercial real estate secured loans. Loan grades range between 1 and 9, with 1 being loans with the least credit risk. Loans within the “Pass” grade (historically, those with a risk rating between 1 and 4) generally have a lower risk of loss and therefore a lower risk factor applied to the loan balances. The “Pass” grade is reserved for loans with a risk rating between 1 and 4A, and the “Watch” grade (those with a risk rating of 4B and 4E) is utilized on a temporary basis for “Pass” grade loans where a significant adverse risk-modifying action is anticipated in the near term. Loans that migrate toward the “Substandard” grade (those with a risk rating between 5 and 9) generally have a higher risk of loss and therefore a higher risk factor applied to those related loan balances. The following table presents the Company’s loan portfolio by risk-rating grades as of the dates presented:
| Pass |  | Watch |  | Substandard |  | Total
December 31, 2019 |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 779,798 |  |  | $ | 11,949 |  |  | $ | 11,715 |  |  | $ | 803,462 |
Real estate – construction | 698,950 |  |  | 501 |  |  | 9,209 |  |  | 708,660 |
Real estate – 1-4 family mortgage | 339,079 |  |  | 3,856 |  |  | 3,572 |  |  | 346,507 |
Real estate – commercial mortgage | 2,737,629 |  |  | 31,867 |  |  | 26,711 |  |  | 2,796,207 |
Installment loans to individuals | 6 |  |  | — |  |  | — |  |  | 6 |
Total | $ | 4,555,462 |  |  | $ | 48,173 |  |  | $ | 51,207 |  |  | $ | 4,654,842 |
December 31, 2018 |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 615,803 |  |  | $ | 18,326 |  |  | $ | 6,973 |  |  | $ | 641,102 |
Real estate – construction | 558,494 |  |  | 2,317 |  |  | 8,157 |  |  | 568,968 |
Real estate – 1-4 family mortgage | 321,564 |  |  | 4,660 |  |  | 4,260 |  |  | 330,484 |
Real estate – commercial mortgage | 2,210,100 |  |  | 54,579 |  |  | 24,144 |  |  | 2,288,823 |
Installment loans to individuals | — |  |  | — |  |  | — |  |  | — |
Total | $ | 3,705,961 |  |  | $ | 79,882 |  |  | $ | 43,534 |  |  | $ | 3,829,377 |
For portfolio balances of consumer, consumer mortgage and certain other similar loan types, allowance factors are determined based on historical loss ratios by portfolio for the preceding eight quarters and may be adjusted by other qualitative criteria. The following table presents the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented:
| Performing |  | Non-Performing |  | Total
December 31, 2019 |  |  |  |  |
Commercial, financial, agricultural | $ | 247,575 |  |  | $ | 1,316 |  |  | $ | 248,891 |
Lease financing | 81,649 |  |  | 226 |  |  | 81,875 |
Real estate – construction | 66,241 |  |  | — |  |  | 66,241 |
Real estate – 1-4 family mortgage | 1,992,331 |  |  | 11,288 |  |  | 2,003,619 |
Real estate – commercial mortgage | 330,714 |  |  | 1,955 |  |  | 332,669 |
Installment loans to individuals | 199,549 |  |  | 288 |  |  | 199,837 |
Total | $ | 2,918,059 |  |  | $ | 15,073 |  |  | $ | 2,933,132 |
December 31, 2018 |  |  |  |  |
Commercial, financial, agricultural | $ | 233,046 |  |  | $ | 1,501 |  |  | $ | 234,547 |
Lease financing | 61,776 |  |  | 89 |  |  | 61,865 |
Real estate – construction | 66,551 |  |  | — |  |  | 66,551 |
Real estate – 1-4 family mortgage | 1,751,994 |  |  | 5,412 |  |  | 1,757,406 |
Real estate – commercial mortgage | 338,367 |  |  | 1,175 |  |  | 339,542 |
Installment loans to individuals | 100,099 |  |  | 325 |  |  | 100,424 |
Total | $ | 2,551,833 |  |  | $ | 8,502 |  |  | $ | 2,560,335 |
Related Party Loans Certain executive officers and directors of Renasant Bank and their associates are customers of and have other transactions with Renasant Bank. Related party loans and commitments are made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with persons not related to the Company or the Bank and do not involve more than a normal risk of collectability or present other unfavorable features. A summary of the changes in related party loans follows:
Loans at December 31, 2018 | $ | 22,225 |
New loans and advances | 5,378 |
Payments received | (1,723 | )
Changes in related parties | 36 |
Loans at December 31, 2019 | $ | 25,916 |
No related party loans were classified as past due, nonaccrual, impaired or restructured at December 31, 2019 or 2018. Unfunded commitments to certain executive officers and directors and their associates totaled $7,266 and $6,982 at December 31, 2019 and 2018, respectively. Purchased Loans (In Thousands, Except Number of Loans) For purposes of this Note 5, all references to “loans” mean purchased loans. The following is a summary of purchased loans at December 31:
| 2019 |  | 2018
Commercial, financial, agricultural | $ | 315,619 |  |  | $ | 420,263 |
Lease financing | — |  |  | — |
Real estate – construction | 51,582 |  |  | 105,149 |
Real estate – 1-4 family mortgage | 516,487 |  |  | 707,453 |
Real estate – commercial mortgage | 1,115,389 |  |  | 1,423,144 |
Installment loans to individuals | 102,587 |  |  | 37,408 |
Gross loans | 2,101,664 |  |  | 2,693,417 |
Unearned income | — |  |  | — |
Loans, net of unearned income | $ | 2,101,664 |  |  | $ | 2,693,417 |
Past Due and Nonaccrual Loans The following table provides an aging of past due and nonaccrual loans, segregated by class, as of the dates presented:
| Accruing Loans |  | Nonaccruing Loans
| 30-89 Days Past Due |  | 90 Days or More Past Due |  | Current Loans |  | Total Loans |  | 30-89 Days Past Due |  | 90 Days or More Past Due |  | Current Loans |  | Total Loans |  | Total Loans
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 1,889 |  |  | $ | 998 |  |  | $ | 311,218 |  |  | $ | 314,105 |  |  | $ | — |  |  | $ | 1,246 |  |  | $ | 268 |  |  | $ | 1,514 |  |  | $ | 315,619 |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | 319 |  |  | — |  |  | 51,263 |  |  | 51,582 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 51,582 |
Real estate – 1-4 family mortgage | 5,516 |  |  | 2,244 |  |  | 503,826 |  |  | 511,586 |  |  | 605 |  |  | 2,762 |  |  | 1,534 |  |  | 4,901 |  |  | 516,487 |
Real estate – commercial mortgage | 3,454 |  |  | 922 |  |  | 1,110,570 |  |  | 1,114,946 |  |  | — |  |  | 123 |  |  | 320 |  |  | 443 |  |  | 1,115,389 |
Installment loans to individuals | 3,709 |  |  | 153 |  |  | 98,545 |  |  | 102,407 |  |  | 1 |  |  | 51 |  |  | 128 |  |  | 180 |  |  | 102,587 |
Unearned income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 14,887 |  |  | $ | 4,317 |  |  | $ | 2,075,422 |  |  | $ | 2,094,626 |  |  | $ | 606 |  |  | $ | 4,182 |  |  | $ | 2,250 |  |  | $ | 7,038 |  |  | $ | 2,101,664 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 1,811 |  |  | $ | 97 |  |  | $ | 417,786 |  |  | $ | 419,694 |  |  | $ | — |  |  | $ | 477 |  |  | $ | 92 |  |  | $ | 569 |  |  | $ | 420,263 |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | 1,235 |  |  | 68 |  |  | 103,846 |  |  | 105,149 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 105,149 |
Real estate – 1-4 family mortgage | 8,981 |  |  | 4,455 |  |  | 690,697 |  |  | 704,133 |  |  | 202 |  |  | 1,881 |  |  | 1,237 |  |  | 3,320 |  |  | 707,453 |
Real estate – commercial mortgage | 5,711 |  |  | 2,410 |  |  | 1,413,346 |  |  | 1,421,467 |  |  | — |  |  | 1,401 |  |  | 276 |  |  | 1,677 |  |  | 1,423,144 |
Installment loans to individuals | 1,342 |  |  | 202 |  |  | 35,594 |  |  | 37,138 |  |  | 2 |  |  | 24 |  |  | 244 |  |  | 270 |  |  | 37,408 |
Unearned income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 19,080 |  |  | $ | 7,232 |  |  | $ | 2,661,269 |  |  | $ | 2,687,581 |  |  | $ | 204 |  |  | $ | 3,783 |  |  | $ | 1,849 |  |  | $ | 5,836 |  |  | $ | 2,693,417 |
Restructured loans that are not performing in accordance with their restructured terms that are either contractually 90 days or more past due or placed on nonaccrual status are reported as nonperforming loans. There were two restructured loans totaling $106 that were contractually 90 days past due or more and still accruing at December 31, 2019. There were eight restructured loans totaling $413 that were contractually 90 days past due or more and still accruing at December 31, 2018. The outstanding balance of restructured loans on nonaccrual status was $1,667 and $1,868 at December 31, 2019 and 2018, respectively. Impaired Loans Non credit deteriorated loans that were subsequently impaired and recognized in conformity with ASC 310, segregated by class, were as follows as of the dates and for the periods presented:
| As of December 31, 2019 |  | Year Ended December 31, 2019
| Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized
With a related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 1,837 |  |  | $ | 2,074 |  |  | $ | 212 |  |  | $ | 1,700 |  |  | $ | 8 |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | 2,499 |  |  | 2,490 |  |  | 16 |  |  | 2,386 |  |  | 3 |
Real estate – 1-4 family mortgage | 2,801 |  |  | 2,914 |  |  | 17 |  |  | 2,900 |  |  | 41 |
Real estate – commercial mortgage | 981 |  |  | 1,017 |  |  | 6 |  |  | 1,031 |  |  | 40 |
Installment loans to individuals | 110 |  |  | 110 |  |  | 2 |  |  | 96 |  |  | — |
Total | $ | 8,228 |  |  | $ | 8,605 |  |  | $ | 253 |  |  | $ | 8,113 |  |  | $ | 92 |
With no related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 901 |  |  | $ | 905 |  |  | $ | — |  |  | $ | 912 |  |  | $ | — |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | 772 |  |  | 779 |  |  | — |  |  | 770 |  |  | — |
Real estate – 1-4 family mortgage | 3,772 |  |  | 4,550 |  |  | — |  |  | 4,134 |  |  | 73 |
Real estate – commercial mortgage | 128 |  |  | 131 |  |  | — |  |  | 137 |  |  | 7 |
Installment loans to individuals | 71 |  |  | 92 |  |  | — |  |  | 85 |  |  | — |
Total | $ | 5,644 |  |  | $ | 6,457 |  |  | $ | — |  |  | $ | 6,038 |  |  | $ | 80 |
Totals | $ | 13,872 |  |  | $ | 15,062 |  |  | $ | 253 |  |  | $ | 14,151 |  |  | $ | 172 |
| As of December 31, 2018 |  | Year Ended December 31, 2018
| Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized
With a related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 600 |  |  | $ | 658 |  |  | $ | 173 |  |  | $ | 614 |  |  | $ | 10 |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | 576 |  |  | 576 |  |  | 5 |  |  | 576 |  |  | 6 |
Real estate – 1-4 family mortgage | 1,381 |  |  | 1,404 |  |  | 18 |  |  | 1,362 |  |  | 18 |
Real estate – commercial mortgage | 2,066 |  |  | 2,116 |  |  | 338 |  |  | 2,011 |  |  | 40 |
Installment loans to individuals | 246 |  |  | 247 |  |  | 3 |  |  | 247 |  |  | 1 |
Total | $ | 4,869 |  |  | $ | 5,001 |  |  | $ | 537 |  |  | $ | 4,810 |  |  | $ | 75 |
With no related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 11 |  |  | $ | 13 |  |  | $ | — |  |  | $ | 13 |  |  | $ | 1 |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – 1-4 family mortgage | 3,780 |  |  | 4,383 |  |  | — |  |  | 4,407 |  |  | 111 |
Real estate – commercial mortgage | 146 |  |  | 150 |  |  | — |  |  | 159 |  |  | 7 |
Installment loans to individuals | 24 |  |  | 33 |  |  | — |  |  | 7 |  |  | — |
Total | $ | 3,961 |  |  | $ | 4,579 |  |  | $ | — |  |  | $ | 4,586 |  |  | $ | 119 |
Totals | $ | 8,830 |  |  | $ | 9,580 |  |  | $ | 537 |  |  | $ | 9,396 |  |  | $ | 194 |
The average recorded investment in non credit deteriorated loans that were subsequently impaired for the year ended December 31, 2017 was $7,687. Interest income recognized on non credit deteriorated loans that were subsequently impaired for the year ended December 31, 2017 was $299. Credit deteriorated loans recognized in conformity with ASC 310-30, segregated by class, were as follows as of the dates and for the periods presented:
| As of December 31, 2019 |  | Year Ended December 31, 2019
| Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized
With a related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 3,695 |  |  | $ | 7,370 |  |  | $ | 292 |  |  | $ | 6,919 |  |  | $ | 187 |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – 1-4 family mortgage | 10,061 |  |  | 10,372 |  |  | 291 |  |  | 10,369 |  |  | 529 |
Real estate – commercial mortgage | 52,501 |  |  | 55,017 |  |  | 1,386 |  |  | 54,885 |  |  | 2,904 |
Installment loans to individuals | 640 |  |  | 640 |  |  | 2 |  |  | 652 |  |  | 29 |
Total | $ | 66,897 |  |  | $ | 73,399 |  |  | $ | 1,971 |  |  | $ | 72,825 |  |  | $ | 3,649 |
With no related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 25,843 |  |  | $ | 41,792 |  |  | $ | — |  |  | $ | 37,535 |  |  | $ | 1,208 |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | 863 |  |  | 882 |  |  | — |  |  | 618 |  |  | 21 |
Real estate – 1-4 family mortgage | 25,482 |  |  | 32,597 |  |  | — |  |  | 26,687 |  |  | 1,665 |
Real estate – commercial mortgage | 50,632 |  |  | 64,912 |  |  | — |  |  | 53,586 |  |  | 3,500 |
Installment loans to individuals | 2,547 |  |  | 4,771 |  |  | — |  |  | 3,232 |  |  | 335 |
Total | $ | 105,367 |  |  | $ | 144,954 |  |  | $ | — |  |  | $ | 121,658 |  |  | $ | 6,729 |
Totals | $ | 172,264 |  |  | $ | 218,353 |  |  | $ | 1,971 |  |  | $ | 194,483 |  |  | $ | 10,378 |
| As of December 31, 2018 |  | Year Ended December 31, 2018
| Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized
With a related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 3,779 |  |  | $ | 4,071 |  |  | $ | 161 |  |  | $ | 4,276 |  |  | $ | 204 |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – 1-4 family mortgage | 12,169 |  |  | 12,601 |  |  | 488 |  |  | 12,894 |  |  | 647 |
Real estate – commercial mortgage | 62,003 |  |  | 65,273 |  |  | 1,901 |  |  | 65,756 |  |  | 3,201 |
Installment loans to individuals | 660 |  |  | 660 |  |  | 2 |  |  | 675 |  |  | 29 |
Total | $ | 78,611 |  |  | $ | 82,605 |  |  | $ | 2,552 |  |  | $ | 83,601 |  |  | $ | 4,081 |
With no related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 25,364 |  |  | $ | 40,332 |  |  | $ | — |  |  | $ | 12,102 |  |  | $ | 669 |
Lease financing | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – construction | — |  |  | — |  |  | — |  |  | — |  |  | — |
Real estate – 1-4 family mortgage | 36,074 |  |  | 41,222 |  |  | — |  |  | 36,801 |  |  | 1,647 |
Real estate – commercial mortgage | 78,435 |  |  | 100,427 |  |  | — |  |  | 78,368 |  |  | 3,578 |
Installment loans to individuals | 3,770 |  |  | 7,630 |  |  | — |  |  | 2,095 |  |  | 109 |
Total | $ | 143,643 |  |  | $ | 189,611 |  |  | $ | — |  |  | $ | 129,366 |  |  | $ | 6,003 |
Totals | $ | 222,254 |  |  | $ | 272,216 |  |  | $ | 2,552 |  |  | $ | 212,967 |  |  | $ | 10,084 |
The average recorded investment in credit-deteriorated loans for the year ended December 31, 2017 was $253,172. Interest income recognized on credit-deteriorated loans for the year ended December 31, 2017 was $12,869. Restructured Loans At December 31, 2019, 2018 and 2017, there were $7,275, $7,495 and $8,965, respectively, of restructured loans. The following table illustrates the impact of modifications classified as restructured loans held on the Consolidated Balance Sheets and still performing in accordance with their restructured terms at period end, segregated by class, as of the periods presented.
| Number of Loans |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
December 31, 2019 |  |  |  |  |
Commercial, financial, agricultural | 2 |  |  | $ | 2,778 |  |  | $ | 2,778 |
Real estate – 1-4 family mortgage | 2 |  |  | 73 |  |  | 73 |
Real estate – commercial mortgage | 1 |  |  | 80 |  |  | 76 |
Total | 5 |  |  | $ | 2,931 |  |  | $ | 2,927 |
December 31, 2018 |  |  |  |  |
Commercial, financial, agricultural | 1 |  |  | $ | 48 |  |  | $ | 44 |
Real estate – 1-4 family mortgage | 2 |  |  | 142 |  |  | 127 |
Real estate – commercial mortgage | 2 |  |  | 522 |  |  | 381 |
Total | 5 |  |  | $ | 712 |  |  | $ | 552 |
December 31, 2017 |  |  |  |  |
Real estate – 1-4 family mortgage | 23 |  |  | 3,744 |  |  | 3,127 |
Real estate – commercial mortgage | 5 |  |  | 3,115 |  |  | 2,231 |
Total | 28 |  |  | $ | 6,859 |  |  | $ | 5,358 |
During the years ended December 31, 2019, 2018 and 2017, the Company had $101, $5 and $212, respectively, in troubled debt restructurings that subsequently defaulted within twelve months of the restructuring. Changes in the Company’s restructured loans are set forth in the table below.
| Number of Loans |  | Recorded Investment
Totals at January 1, 2018 | 72 |  |  | $ | 8,965 |
Additional advances or loans with concessions | 5 |  |  | 712 |
Reclassified from nonperforming | 4 |  |  | 435 |
Reductions due to: |  |  |
Reclassified as nonperforming | (13 | ) |  | (1,229 | )
Paid in full | (14 | ) |  | (744 | )
Principal paydowns | — |  |  | (644 | )
Totals at December 31, 2018 | 54 |  |  | $ | 7,495 |
Additional advances or loans with concessions | 5 |  |  | 3,168 |
Reclassified from nonperforming | 14 |  |  | 1,931 |
Reductions due to: |  |  |
Reclassified as nonperforming | (11 | ) |  | (1,964 | )
Paid in full | (7 | ) |  | (370 | )
Charge-offs | (1 | ) |  | (101 | )
Principal paydowns | — |  |  | (508 | )
Measurement period adjustment on recently acquired loans | — |  |  | (2,376 | )
Totals at December 31, 2019 | 54 |  |  | $ | 7,275 |
The allocated allowance for loan losses attributable to restructured loans was $17 and $58 at December 31, 2019 and 2018, respectively. The Company had $6 remaining availability under commitments to lend additional funds on these restructured loans at December 31, 2019 and $3 in remaining availability under commitments to lend additional funds on these restructured loans at December 31, 2018. Credit Quality The following table presents the Company’s loan portfolio by risk-rating grades as of the dates presented:
| Pass |  | Watch |  | Substandard |  | Total
December 31, 2019 |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 259,760 |  |  | $ | 7,166 |  |  | $ | 5,220 |  |  | $ | 272,146 |
Real estate – construction | 48,994 |  |  | — |  |  | — |  |  | 48,994 |
Real estate – 1-4 family mortgage | 78,105 |  |  | 791 |  |  | 3,935 |  |  | 82,831 |
Real estate – commercial mortgage | 909,513 |  |  | 56,334 |  |  | 15,835 |  |  | 981,682 |
Installment loans to individuals | — |  |  | — |  |  | — |  |  | — |
Total | $ | 1,296,372 |  |  | $ | 64,291 |  |  | $ | 24,990 |  |  | $ | 1,385,653 |
December 31, 2018 |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 333,147 |  |  | $ | 33,857 |  |  | $ | 2,744 |  |  | $ | 369,748 |
Real estate – construction | 101,122 |  |  | — |  |  | 842 |  |  | 101,964 |
Real estate – 1-4 family mortgage | 113,874 |  |  | 7,347 |  |  | 7,585 |  |  | 128,806 |
Real estate – commercial mortgage | 1,198,540 |  |  | 43,046 |  |  | 9,984 |  |  | 1,251,570 |
Installment loans to individuals | — |  |  | — |  |  | 2 |  |  | 2 |
Total | $ | 1,746,683 |  |  | $ | 84,250 |  |  | $ | 21,157 |  |  | $ | 1,852,090 |
The following table presents the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented:
| Performing |  | Non-Performing |  | Total
December 31, 2019 |  |  |  |  |
Commercial, financial, agricultural | $ | 13,935 |  |  | $ | — |  |  | $ | 13,935 |
Lease financing | — |  |  | — |  |  | — |
Real estate – construction | 1,725 |  |  | — |  |  | 1,725 |
Real estate – 1-4 family mortgage | 394,476 |  |  | 3,638 |  |  | 398,114 |
Real estate – commercial mortgage | 30,472 |  |  | 101 |  |  | 30,573 |
Installment loans to individuals | 99,139 |  |  | 261 |  |  | 99,400 |
Total | $ | 539,747 |  |  | $ | 4,000 |  |  | $ | 543,747 |
December 31, 2018 |  |  |  |  |
Commercial, financial, agricultural | $ | 21,303 |  |  | $ | 69 |  |  | $ | 21,372 |
Lease financing | — |  |  | — |  |  | — |
Real estate – construction | 3,185 |  |  | — |  |  | 3,185 |
Real estate – 1-4 family mortgage | 526,699 |  |  | 3,705 |  |  | 530,404 |
Real estate – commercial mortgage | 30,951 |  |  | 185 |  |  | 31,136 |
Installment loans to individuals | 32,676 |  |  | 300 |  |  | 32,976 |
Total | $ | 614,814 |  |  | $ | 4,259 |  |  | $ | 619,073 |
Loans Purchased with Deteriorated Credit Quality Loans purchased in business combinations that exhibited, at the date of acquisition, evidence of deterioration of the credit quality since origination, such that it was probable that all contractually required payments would not be collected, were as follows as of the dates presented:
|  | Total Purchased Credit Deteriorated Loans
December 31, 2019 |  |
Commercial, financial, agricultural |  | $ | 29,538 |
Lease financing |  | — |
Real estate – construction |  | 863 |
Real estate – 1-4 family mortgage |  | 35,543 |
Real estate – commercial mortgage |  | 103,133 |
Installment loans to individuals |  | 3,187 |
Total |  | $ | 172,264 |
December 31, 2018 |  |
Commercial, financial, agricultural |  | $ | 29,143 |
Lease financing |  | — |
Real estate – construction |  | — |
Real estate – 1-4 family mortgage |  | 48,243 |
Real estate – commercial mortgage |  | 140,438 |
Installment loans to individuals |  | 4,430 |
Total |  | $ | 222,254 |
The following table presents the fair value of loans recognized in accordance with ASC 310-30 at the time of acquisition:
| Total Purchased Credit Deteriorated Loans
December 31, 2019 |
Contractually-required principal and interest | $ | 247,383 |
Nonaccretable difference(1) | (51,087 | )
Cash flows expected to be collected | 196,296 |
Accretable yield(2) | (24,032 | )
Fair value | $ | 172,264 |
December 31, 2018 |
Contractually-required principal and interest | $ | 319,214 |
Nonaccretable difference(1) | (62,695 | )
Cash flows expected to be collected | 256,519 |
Accretable yield(2) | (34,265 | )
Fair value | $ | 222,254 |
(1) | Represents contractual principal cash flows of $44,115 and $52,061, respectively, and interest cash flows of $6,972 and $10,634, respectively, not expected to be collected.
(2) | Represents contractual principal cash flows of $1,615 and $1,667, respectively, and interest cash flows of $22,417 and $32,598, respectively, expected to be collected.
Changes in the accretable yield of loans purchased with deteriorated credit quality, recognized in accordance with ASC 310-30, were as follows:
| Total Purchased Credit Deteriorated Loans
Balance at January 1, 2018 | $ | (32,207 | )
Additions through acquisition | (10,143 | )
Reclasses from nonaccretable difference | (7,883 | )
Accretion | 15,340 |
Charge-off | 628 |
Balance at December 31, 2018 | $ | (34,265 | )
Measurement period adjustment on recently acquired loans | (3,712 | )
Reclasses from nonaccretable difference | (8,472 | )
Accretion | 20,873 |
Charge-off | 1,544 |
Balance at December 31, 2019 | $ | (24,032 | )
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 |

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