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Non Purchased Loans | 9 Months Ended
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Sep. 30, 2020
Receivables [Abstract] |
Non Purchased Loans | Non Purchased Loans (In Thousands, Except Number of Loans) For purposes of this Note 3, all references to “loans” mean non purchased loans excluding loans held for sale. The following is a summary of non purchased loans and leases as of the dates presented:
| September 30, 2020 |  | December 31, 2019
Commercial, financial, agricultural | $ | 2,445,294 |  |  | $ | 1,052,353 |
Lease financing | 87,257 |  |  | 85,700 |
Real estate – construction: |  |  |
Residential | 261,432 |  |  | 272,643 |
Commercial | 477,441 |  |  | 502,258 |
Total real estate – construction | 738,873 |  |  | 774,901 |
Real estate – 1-4 family mortgage: |  |  |
Primary | 1,517,528 |  |  | 1,449,219 |
Home equity | 442,380 |  |  | 456,265 |
Rental/investment | 272,811 |  |  | 291,931 |
Land development | 136,573 |  |  | 152,711 |
Total real estate – 1-4 family mortgage | 2,369,292 |  |  | 2,350,126 |
Real estate – commercial mortgage: |  |  |
Owner-occupied | 1,316,408 |  |  | 1,209,204 |
Non-owner occupied | 2,176,562 |  |  | 1,803,587 |
Land development | 117,672 |  |  | 116,085 |
Total real estate – commercial mortgage | 3,610,642 |  |  | 3,128,876 |
Installment loans to individuals | 177,195 |  |  | 199,843 |
Gross loans | 9,428,553 |  |  | 7,591,799 |
Unearned income | (4,329) |  |  | (3,825) |
Loans, net of unearned income | $ | 9,424,224 |  |  | $ | 7,587,974 |
Past Due and Nonaccrual Loans Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Generally, the recognition of interest on mortgage and commercial loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Consumer and other retail loans are typically charged-off no later than the time the loan is 120 days past due. In all cases, loans are placed on nonaccrual status or charged-off at an earlier date if collection of principal or interest is considered doubtful. Loans may be placed on nonaccrual status regardless of whether or not such loans are considered past due. All interest accrued for the current year, but not collected, for loans that are placed on nonaccrual status or charged-off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The Company recognized $189 in interest income on nonaccrual loans during the first nine months of 2020. The following table provides an aging of past due accruing and nonaccruing 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
September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 876 |  |  | $ | 288 |  |  | $ | 2,439,040 |  |  | $ | 2,440,204 |  |  | $ | 650 |  |  | $ | 2,666 |  |  | $ | 1,774 |  |  | $ | 5,090 |  |  | $ | 2,445,294 |
Lease financing | — |  |  | — |  |  | 87,257 |  |  | 87,257 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 87,257 |
Real estate – construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential | 988 |  |  | — |  |  | 260,444 |  |  | 261,432 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 261,432 |
Commercial | — |  |  | — |  |  | 477,441 |  |  | 477,441 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 477,441 |
Total real estate – construction | 988 |  |  | — |  |  | 737,885 |  |  | 738,873 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 738,873 |
Real estate – 1-4 family mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Primary | 1,795 |  |  | 1,098 |  |  | 1,505,737 |  |  | 1,508,630 |  |  | 347 |  |  | 3,031 |  |  | 5,520 |  |  | 8,898 |  |  | 1,517,528 |
Home equity | 1,001 |  |  | 16 |  |  | 440,820 |  |  | 441,837 |  |  | — |  |  | 92 |  |  | 451 |  |  | 543 |  |  | 442,380 |
Rental/investment | 1,334 |  |  | 207 |  |  | 270,995 |  |  | 272,536 |  |  | 7 |  |  | 178 |  |  | 90 |  |  | 275 |  |  | 272,811 |
Land development | 60 |  |  | — |  |  | 136,468 |  |  | 136,528 |  |  | — |  |  | 12 |  |  | 33 |  |  | 45 |  |  | 136,573 |
Total real estate – 1-4 family mortgage | 4,190 |  |  | 1,321 |  |  | 2,354,020 |  |  | 2,359,531 |  |  | 354 |  |  | 3,313 |  |  | 6,094 |  |  | 9,761 |  |  | 2,369,292 |
Real estate – commercial mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-occupied | 1,034 |  |  | 1 |  |  | 1,312,024 |  |  | 1,313,059 |  |  | 178 |  |  | 2,895 |  |  | 276 |  |  | 3,349 |  |  | 1,316,408 |
Non-owner occupied | 1,986 |  |  | — |  |  | 2,174,154 |  |  | 2,176,140 |  |  | 58 |  |  | 309 |  |  | 55 |  |  | 422 |  |  | 2,176,562 |
Land development | 257 |  |  | 43 |  |  | 117,287 |  |  | 117,587 |  |  | — |  |  | 39 |  |  | 46 |  |  | 85 |  |  | 117,672 |
Total real estate – commercial mortgage | 3,277 |  |  | 44 |  |  | 3,603,465 |  |  | 3,606,786 |  |  | 236 |  |  | 3,243 |  |  | 377 |  |  | 3,856 |  |  | 3,610,642 |
Installment loans to individuals | 923 |  |  | 173 |  |  | 175,975 |  |  | 177,071 |  |  | 6 |  |  | 84 |  |  | 34 |  |  | 124 |  |  | 177,195 |
Unearned income | — |  |  | — |  |  | (4,329) |  |  | (4,329) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4,329) |
Loans, net of unearned income | $ | 10,254 |  |  | $ | 1,826 |  |  | $ | 9,393,313 |  |  | $ | 9,405,393 |  |  | $ | 1,246 |  |  | $ | 9,306 |  |  | $ | 8,279 |  |  | $ | 18,831 |  |  | $ | 9,424,224 |
| 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 loans, net | $ | 22,781 |  |  | $ | 3,458 |  |  | $ | 7,540,226 |  |  | $ | 7,566,465 |  |  | $ | 1,382 |  |  | $ | 16,492 |  |  | $ | 3,635 |  |  | $ | 21,509 |  |  | $ | 7,587,974 |
Restructured Loans Restructured loans are those for which concessions have been granted to the borrower due to a deterioration of the borrower’s financial condition and which are performing in accordance with the new terms. Such concessions may include reduction in interest rates or deferral of interest or principal payments. In evaluating whether to restructure a loan, management analyzes the long-term financial condition of the borrower, including guarantor and collateral support, to determine whether the proposed concessions will increase the likelihood of repayment of principal and interest. The tables below illustrate the impact of modifications classified as restructured loans which were made during the periods presented and held on the Consolidated Balance Sheets at the respective period end.
| Number of Loans |  | Pre- Modification Outstanding Recorded Investment |  | Post- Modification Outstanding Recorded Investment
Three months ended September 30, 2020 |  |  |  |  |
Commercial, financial, agricultural | 1 |  |  | $ | 31 |  |  | $ | 31 |
Real estate – 1-4 family mortgage: |  |  |  |  |
Primary | 2 |  |  | 201 |  |  | 200 |
Rental/investment | 1 |  |  | 33 |  |  | 32 |
Total real estate – 1-4 family mortgage | 3 |  |  | 234 |  |  | 232 |
Real estate – commercial mortgage: |  |  |  |  |
Owner-occupied | 2 |  |  | 357 |  |  | 357 |
Non-owner occupied | 2 |  |  | 210 |  |  | 210 |
Total real estate – commercial mortgage | 4 |  |  | 567 |  |  | 567 |
Total | 8 |  |  | $ | 832 |  |  | $ | 830 |
Three months ended September 30, 2019 |  |  |  |  |
Real estate – 1-4 family mortgage | 1 |  |  | $ | 16 |  |  | $ | 16 |
Total | 1 |  |  | $ | 16 |  |  | $ | 16 |
| Number of Loans |  | Pre- Modification Outstanding Recorded Investment |  | Post- Modification Outstanding Recorded Investment
Nine months ended September 30, 2020 |  |  |  |  |
Commercial, financial, agricultural | 7 |  |  | $ | 1,862 |  |  | $ | 1,859 |
Real estate – 1-4 family mortgage: |  |  |  |  |
Primary | 17 |  |  | 2,356 |  |  | 2,363 |
Rental/investment | 2 |  |  | 142 |  |  | 142 |
Total real estate – 1-4 family mortgage | 19 |  |  | 2,498 |  |  | 2,505 |
Real estate – commercial mortgage: |  |  |  |  |
Owner-occupied | 3 |  |  | 3,019 |  |  | 2,970 |
Non-owner occupied | 2 |  |  | 210 |  |  | 210 |
Land development | 1 |  |  | 189 |  |  | 189 |
Total real estate – commercial mortgage | 6 |  |  | 3,418 |  |  | 3,369 |
Installment loans to individuals | 2 |  |  | 24 |  |  | 21 |
Total | 34 |  |  | $ | 7,802 |  |  | $ | 7,754 |
Nine months ended September 30, 2019 |  |  |  |  |
Commercial, financial, agricultural | 2 |  |  | $ | 187 |  |  | $ | 185 |
Real estate – 1-4 family mortgage | 4 |  |  | 321 |  |  | 320 |
Total | 6 |  |  | $ | 508 |  |  | $ | 505 |
With respect to loans that were restructured during the nine months ended September 30, 2020, $420 have subsequently defaulted as of the date of this report. With respect to loans that were restructured during the nine months ended September 30, 2019, $61 subsequently defaulted within twelve months of restructuring. Restructured loans 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 was one restructured loan in the amount of $92 contractually 90 days past due or more and still accruing at September 30, 2020 and one restructured loan in the amount of $40 contractually 90 days past due or more and still accruing at September 30, 2019. The outstanding balance of restructured loans on nonaccrual status was $3,703 and $3,101 at September 30, 2020 and September 30, 2019, respectively. Changes in the Company’s restructured loans are set forth in the table below:
| Number of Loans |  | Recorded Investment
Totals at January 1, 2020 | 46 |  |  | $ | 4,679 |
Additional advances or loans with concessions | 34 |  |  | 7,787 |
Reclassified as performing restructured loan | 3 |  |  | 354 |
Reductions due to: |  |  |
Reclassified as nonperforming | (2) |  |  | (510) |
Paid in full | (4) |  |  | (938) |
Principal paydowns | — |  |  | (200) |
Totals at September 30, 2020 | 77 |  |  | $ | 11,172 |
The allowance for credit losses attributable to restructured loans was $279 and $30 at September 30, 2020 and September 30, 2019, respectively. The Company had no remaining availability under commitments to lend additional funds on these restructured loans at September 30, 2020 and $1 at September 30, 2019. In response to the current economic environment caused by the COVID-19 pandemic, the Company implemented a loan deferral program in the first quarter of 2020 to provide temporary payment relief to both consumer and commercial customers. Any customer current on loan payments, taxes and insurance can qualify for an initial 90-day deferral of principal and interest payments. A second 90-day deferral has been made available to borrowers that remained current on taxes and insurance through the first deferral period and also satisfy underwriting standards established by the Company that analyze the ability of the borrower to service its loan in accordance with its existing terms in light of the impact of the COVID-19 pandemic on the borrower, its industry and the markets in which it operates. The Company’s loan deferral program complies with the guidance set forth in the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act and related guidance from the FDIC and other banking regulators. As of September 30, 2020, the Company had 804 loans with total balances of approximately $373,000 on deferral. In accordance with the applicable guidance, none of these loans were considered “restructured loans.” Credit Quality For commercial and commercial real estate loans, internal risk-rating grades are assigned by lending, credit administration and 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 these loans. Loan grades range between 1 and 9, with 1 rated loans having the least credit risk. Loans within the “Pass” grade 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 “Pass-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 the related loan balances. During the first quarter of 2020, the Company proactively downgraded to “Pass-Watch” certain “Pass” rated loans greater than $1,000 in industries the Company believed posed a greater risk in the current pandemic environment (at the time of the downgrade, borrowers in the hotel/motel, restaurant and entertainment industries). Note 5, “Allowance for Credit Losses,” provides additional information about the Company's heightened monitoring efforts. The following table presents the Company’s loan portfolio by year of origination and internal risk-rating grades as of the dates presented:
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans | Revolving Loans Converted to Term | Total Loans
September 30, 2020 |  |  |  |  |  |  |  |  |
Commercial, Financial, Agricultural | $ | 1,496,869 |  | $ | 208,462 |  | $ | 82,029 |  | $ | 55,271 |  | $ | 21,981 |  | $ | 25,284 |  | $ | 249,974 |  | $ | 12,539 |  | $ | 2,152,409 |
Pass | 1,490,637 |  | 184,292 |  | 77,209 |  | 47,560 |  | 17,411 |  | 23,379 |  | 234,139 |  | 10,846 |  | 2,085,473 |
Pass-Watch | 5,841 |  | 23,483 |  | 3,318 |  | 6,056 |  | 4,177 |  | 178 |  | 11,352 |  | 796 |  | 55,201 |
Substandard | 391 |  | 687 |  | 1,502 |  | 1,655 |  | 393 |  | 1,727 |  | 4,483 |  | 897 |  | 11,735 |
Real Estate - Construction | $ | 292,840 |  | $ | 277,380 |  | $ | 60,321 |  | $ | 27,528 |  | $ | — |  | $ | — |  | $ | 14,687 |  | $ | 145 |  | $ | 672,901 |
Residential | $ | 144,193 |  | $ | 37,303 |  | $ | 2,805 |  | $ | — |  | $ | — |  | $ | — |  | $ | 14,175 |  | $ | 145 |  | $ | 198,621 |
Pass | 143,398 |  | 37,239 |  | 2,805 |  | — |  | — |  | — |  | 14,175 |  | 145 |  | 197,762 |
Pass-Watch | 795 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 795 |
Substandard | — |  | 64 |  | — |  | — |  | — |  | — |  | — |  | — |  | 64 |
Commercial | $ | 148,647 |  | $ | 240,077 |  | $ | 57,516 |  | $ | 27,528 |  | $ | — |  | $ | — |  | $ | 512 |  | $ | — |  | $ | 474,280 |
Pass | 143,920 |  | 222,291 |  | 57,516 |  | 27,528 |  | — |  | — |  | 512 |  | — |  | 451,767 |
Pass-Watch | 4,727 |  | 17,786 |  | — |  | — |  | — |  | — |  | — |  | — |  | 22,513 |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Real Estate - 1-4 Family Mortgage | $ | 93,050 |  | $ | 90,316 |  | $ | 54,193 |  | $ | 35,024 |  | $ | 15,897 |  | $ | 11,028 |  | $ | 16,565 |  | $ | 2,411 |  | $ | 318,484 |
Primary | $ | 7,847 |  | $ | 7,610 |  | $ | 7,659 |  | $ | 5,548 |  | $ | 427 |  | $ | 2,099 |  | $ | 416 |  | $ | — |  | $ | 31,606 |
Pass | 7,847 |  | 7,328 |  | 7,659 |  | 5,548 |  | 427 |  | 2,083 |  | 416 |  | — |  | 31,308 |
Pass-Watch | — |  | 162 |  | — |  | — |  | — |  | — |  | — |  | — |  | 162 |
Substandard | — |  | 120 |  | — |  | — |  | — |  | 16 |  | — |  | — |  | 136 |
Home Equity | $ | 97 |  | $ | 565 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 10,563 |  | $ | — |  | $ | 11,225 |
Pass | 97 |  | 565 |  | — |  | — |  | — |  | — |  | 10,438 |  | — |  | 11,100 |
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans | Revolving Loans Converted to Term | Total Loans
Pass-Watch | — |  | — |  | — |  | — |  | — |  | — |  | 125 |  | — |  | 125 |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Rental/Investment | $ | 37,906 |  | $ | 38,376 |  | $ | 32,752 |  | $ | 29,097 |  | $ | 15,247 |  | $ | 8,516 |  | $ | 1,260 |  | $ | 570 |  | $ | 163,724 |
Pass | 35,900 |  | 36,978 |  | 31,584 |  | 27,640 |  | 15,142 |  | 7,714 |  | 1,169 |  | 570 |  | 156,697 |
Pass-Watch | 1,816 |  | 456 |  | 434 |  | 1,390 |  | — |  | 603 |  | 91 |  | — |  | 4,790 |
Substandard | 190 |  | 942 |  | 734 |  | 67 |  | 105 |  | 199 |  | — |  | — |  | 2,237 |
Land Development | $ | 47,200 |  | $ | 43,765 |  | $ | 13,782 |  | $ | 379 |  | $ | 223 |  | $ | 413 |  | $ | 4,326 |  | $ | 1,841 |  | $ | 111,929 |
Pass | 47,200 |  | 43,125 |  | 13,782 |  | 379 |  | 217 |  | 375 |  | 4,322 |  | 1,841 |  | 111,241 |
Pass-Watch | — |  | — |  | — |  | — |  | — |  | 38 |  | 4 |  | — |  | 42 |
Substandard | — |  | 640 |  | — |  | — |  | 6 |  | — |  | — |  | — |  | 646 |
Real Estate - Commercial Mortgage | $ | 674,040 |  | $ | 853,569 |  | $ | 495,652 |  | $ | 448,059 |  | $ | 387,416 |  | $ | 329,400 |  | $ | 79,338 |  | $ | 18,350 |  | $ | 3,285,824 |
Owner-Occupied | $ | 187,846 |  | $ | 272,468 |  | $ | 208,303 |  | $ | 186,479 |  | $ | 125,496 |  | $ | 101,549 |  | $ | 23,588 |  | $ | 5,804 |  | $ | 1,111,533 |
Pass | 174,500 |  | 261,499 |  | 175,671 |  | 159,656 |  | 99,871 |  | 86,635 |  | 18,854 |  | 5,804 |  | 982,490 |
Pass-Watch | 13,311 |  | 10,202 |  | 27,468 |  | 22,250 |  | 22,470 |  | 13,178 |  | 3,126 |  | — |  | 112,005 |
Substandard | 35 |  | 767 |  | 5,164 |  | 4,573 |  | 3,155 |  | 1,736 |  | 1,608 |  | — |  | 17,038 |
Non-Owner Occupied | $ | 462,691 |  | $ | 555,163 |  | $ | 273,430 |  | $ | 256,342 |  | $ | 256,794 |  | $ | 223,031 |  | $ | 52,887 |  | $ | 12,546 |  | $ | 2,092,884 |
Pass | 428,272 |  | 502,778 |  | 235,155 |  | 171,441 |  | 190,683 |  | 164,334 |  | 46,252 |  | 12,427 |  | 1,751,342 |
Pass-Watch | 32,584 |  | 50,069 |  | 38,275 |  | 83,315 |  | 52,461 |  | 57,785 |  | 6,635 |  | 119 |  | 321,243 |
Substandard | 1,835 |  | 2,316 |  | — |  | 1,586 |  | 13,650 |  | 912 |  | — |  | — |  | 20,299 |
Land Development | $ | 23,503 |  | $ | 25,938 |  | $ | 13,919 |  | $ | 5,238 |  | $ | 5,126 |  | $ | 4,820 |  | $ | 2,863 |  | $ | — |  | $ | 81,407 |
Pass | 21,084 |  | 25,070 |  | 12,617 |  | 5,165 |  | 3,539 |  | 4,820 |  | 2,863 |  | — |  | 75,158 |
Pass-Watch | 263 |  | 868 |  | 1,302 |  | 73 |  | — |  | — |  | — |  | — |  | 2,506 |
Substandard | 2,156 |  | — |  | — |  | — |  | 1,587 |  | — |  | — |  | — |  | 3,743 |
Installment loans to individuals | $ | 25 |  | $ | 5 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 20 |  | $ | 50 |
Pass | 25 |  | 5 |  | — |  | — |  | — |  | — |  | — |  | 20 |  | 50 |
Pass-Watch | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total loans subject to risk rating | $ | 2,556,824 |  | $ | 1,429,732 |  | $ | 692,195 |  | $ | 565,882 |  | $ | 425,294 |  | $ | 365,712 |  | $ | 360,564 |  | $ | 33,465 |  | $ | 6,429,668 |
Pass | 2,492,880 |  | 1,321,170 |  | 613,998 |  | 444,917 |  | 327,290 |  | 289,340 |  | 333,140 |  | 31,653 |  | 5,854,388 |
Pass-Watch | 59,337 |  | 103,026 |  | 70,797 |  | 113,084 |  | 79,108 |  | 71,782 |  | 21,333 |  | 915 |  | 519,382 |
Substandard | 4,607 |  | 5,536 |  | 7,400 |  | 7,881 |  | 18,896 |  | 4,590 |  | 6,091 |  | 897 |  | 55,898 |
The following table presents the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented:
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans | Revolving Loans Converted to Term | Total Loans
September 30, 2020 |  |  |  |  |  |  |  |  |
Commercial, Financial, Agricultural | $ | 26,726 |  | $ | 19,164 |  | $ | 12,105 |  | $ | 7,487 |  | $ | 3,440 |  | $ | 12,258 |  | $ | 211,383 |  | $ | 322 |  | $ | 292,885 |
Performing Loans | 26,726 |  | 19,052 |  | 12,049 |  | 7,107 |  | 3,291 |  | 12,235 |  | 210,916 |  | 322 |  | 291,698 |
Non-Performing Loans | — |  | 112 |  | 56 |  | 380 |  | 149 |  | 23 |  | 467 |  | — |  | 1,187 |
Lease Financing Receivables | $ | 27,278 |  | $ | 27,274 |  | $ | 18,993 |  | $ | 5,056 |  | $ | 1,836 |  | $ | 2,491 |  | $ | — |  | $ | — |  | $ | 82,928 |
Performing Loans | 27,278 |  | 27,274 |  | 18,993 |  | 5,056 |  | 1,836 |  | 2,491 |  | — |  | — |  | 82,928 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Real Estate - Construction | $ | 37,614 |  | $ | 27,562 |  | $ | 295 |  | $ | 155 |  | $ | — |  | $ | — |  | $ | 346 |  | $ | — |  | $ | 65,972 |
Residential | $ | 36,288 |  | $ | 25,727 |  | $ | 295 |  | $ | 155 |  | $ | — |  | $ | — |  | $ | 346 |  | $ | — |  | $ | 62,811 |
Performing Loans | 36,288 |  | 25,727 |  | 295 |  | 155 |  | — |  | — |  | 346 |  | — |  | 62,811 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Commercial | $ | 1,326 |  | $ | 1,835 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 3,161 |
Performing Loans | 1,326 |  | 1,835 |  | — |  | — |  | — |  | — |  | — |  | — |  | 3,161 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Real Estate - 1-4 Family Mortgage | $ | 378,741 |  | $ | 381,768 |  | $ | 298,572 |  | $ | 223,228 |  | $ | 116,088 |  | $ | 218,792 |  | $ | 430,273 |  | $ | 3,346 |  | $ | 2,050,808 |
Primary | $ | 342,912 |  | $ | 353,445 |  | $ | 274,097 |  | $ | 200,836 |  | $ | 101,959 |  | $ | 211,184 |  | $ | 1,443 |  | $ | 46 |  | $ | 1,485,922 |
Performing Loans | 342,912 |  | 351,059 |  | 271,076 |  | 199,061 |  | 101,238 |  | 209,090 |  | 1,443 |  | 46 |  | 1,475,925 |
Non-Performing Loans | — |  | 2,386 |  | 3,021 |  | 1,775 |  | 721 |  | 2,094 |  | — |  | — |  | 9,997 |
Home Equity | $ | — |  | $ | 205 |  | $ | 377 |  | $ | 179 |  | $ | 45 |  | $ | 965 |  | $ | 426,583 |  | $ | 2,801 |  | $ | 431,155 |
Performing Loans | — |  | 205 |  | 377 |  | 179 |  | 45 |  | 848 |  | 426,434 |  | 2,507 |  | 430,595 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | 117 |  | 149 |  | 294 |  | 560 |
Rental/Investment | $ | 24,840 |  | $ | 22,936 |  | $ | 20,378 |  | $ | 19,980 |  | $ | 12,950 |  | $ | 6,007 |  | $ | 1,497 |  | $ | 499 |  | $ | 109,087 |
Performing Loans | 24,840 |  | 22,830 |  | 20,378 |  | 19,859 |  | 12,943 |  | 5,759 |  | 1,497 |  | 499 |  | 108,605 |
Non-Performing Loans | — |  | 106 |  | — |  | 121 |  | 7 |  | 248 |  | — |  | — |  | 482 |
Land Development | $ | 10,989 |  | $ | 5,182 |  | $ | 3,720 |  | $ | 2,233 |  | $ | 1,134 |  | $ | 636 |  | $ | 750 |  | $ | — |  | $ | 24,644 |
Performing Loans | 10,989 |  | 5,182 |  | 3,708 |  | 2,200 |  | 1,134 |  | 636 |  | 750 |  | — |  | 24,599 |
Non-Performing Loans | — |  | — |  | 12 |  | 33 |  | — |  | — |  | — |  | — |  | 45 |
Real Estate - Commercial Mortgage | $ | 62,694 |  | $ | 76,274 |  | $ | 61,617 |  | $ | 50,869 |  | $ | 39,150 |  | $ | 22,001 |  | $ | 11,674 |  | $ | 539 |  | $ | 324,818 |
Owner-Occupied | $ | 36,389 |  | $ | 47,042 |  | $ | 39,417 |  | $ | 33,561 |  | $ | 26,849 |  | $ | 15,425 |  | $ | 5,876 |  | $ | 316 |  | $ | 204,875 |
Performing Loans | 36,389 |  | 47,042 |  | 39,203 |  | 33,382 |  | 26,758 |  | 14,956 |  | 5,876 |  | 316 |  | 203,922 |
Non-Performing Loans | — |  | — |  | 214 |  | 179 |  | 91 |  | 469 |  | — |  | — |  | 953 |
Non-Owner Occupied | $ | 16,848 |  | $ | 19,873 |  | $ | 16,290 |  | $ | 14,117 |  | $ | 8,288 |  | $ | 5,011 |  | $ | 3,103 |  | $ | 148 |  | $ | 83,678 |
Performing Loans | 16,848 |  | 19,873 |  | 16,232 |  | 14,117 |  | 8,288 |  | 4,956 |  | 3,103 |  | 148 |  | 83,565 |
Non-Performing Loans | — |  | — |  | 58 |  | — |  | — |  | 55 |  | — |  | — |  | 113 |
Land Development | $ | 9,457 |  | $ | 9,359 |  | $ | 5,910 |  | $ | 3,191 |  | $ | 4,013 |  | $ | 1,565 |  | $ | 2,695 |  | $ | 75 |  | $ | 36,265 |
Performing Loans | 9,457 |  | 9,359 |  | 5,910 |  | 3,181 |  | 4,013 |  | 1,522 |  | 2,695 |  | 75 |  | 36,212 |
Non-Performing Loans | — |  | — |  | — |  | 10 |  | — |  | 43 |  | — |  | — |  | 53 |
Installment loans to individuals | $ | 59,631 |  | $ | 81,611 |  | $ | 15,836 |  | $ | 4,842 |  | $ | 2,856 |  | $ | 1,915 |  | $ | 10,363 |  | $ | 91 |  | $ | 177,145 |
Performing Loans | 59,621 |  | 81,507 |  | 15,730 |  | 4,821 |  | 2,804 |  | 1,914 |  | 10,360 |  | 91 |  | 176,848 |
Non-Performing Loans | 10 |  | 104 |  | 106 |  | 21 |  | 52 |  | 1 |  | 3 |  | — |  | 297 |
Total loans not subject to risk rating | $ | 592,684 |  | $ | 613,653 |  | $ | 407,418 |  | $ | 291,637 |  | $ | 163,370 |  | $ | 257,457 |  | $ | 664,039 |  | $ | 4,298 |  | $ | 2,994,556 |
Performing Loans | 592,674 |  | 610,945 |  | 403,951 |  | 289,118 |  | 162,350 |  | 254,407 |  | 663,420 |  | 4,004 |  | 2,980,869 |
Non-Performing Loans | 10 |  | 2,708 |  | 3,467 |  | 2,519 |  | 1,020 |  | 3,050 |  | 619 |  | 294 |  | 13,687 |
The following disclosures are presented under GAAP in effect prior to the adoption of CECL. The Company has included these disclosures to address the applicable prior period. A discussion of the Company’s policies regarding internal risk-rating of loans is discussed above and is applicable to these tables. The following table presents the Company’s loan portfolio by internal risk-rating grades as of the date presented:
| Pass |  | 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 |
The following table presents the performing status of the Company’s loan portfolio not subject to risk rating as of the date 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 |
The following disclosures are presented under GAAP in effect prior to the adoption of CECL that are no longer applicable or required. The Company has included these disclosures to address the applicable prior periods. Impaired Loans Loans formerly accounted for under FASB ASC 310-20, “Nonrefundable Fees and Other Cost” (“ASC 310-20”), and which are impaired loans recognized in conformity with ASC 310, “Receivables” (“ASC 310”), segregated by class, were as follows as of the date presented:
| Unpaid Contractual Principal Balance |  | Recorded Investment With Allowance |  | Recorded Investment With No Allowance |  | Total Recorded Investment |  | Related Allowance
December 31, 2019 |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 6,623 |  |  | $ | 5,722 |  |  | $ | — |  |  | $ | 5,722 |  |  | $ | 1,222 |
Lease financing | 226 |  |  | 226 |  |  | — |  |  | 226 |  |  | 3 |
Real estate – construction | 9,145 |  |  | — |  |  | 9,145 |  |  | 9,145 |  |  | — |
Real estate – 1-4 family mortgage | 14,018 |  |  | 13,689 |  |  | — |  |  | 13,689 |  |  | 143 |
Real estate – commercial mortgage | 11,067 |  |  | 7,361 |  |  | 1,080 |  |  | 8,441 |  |  | 390 |
Installment loans to individuals | 91 |  |  | 84 |  |  | — |  |  | 84 |  |  | 1 |
Totals | $ | 41,170 |  |  | $ | 27,082 |  |  | $ | 10,225 |  |  | $ | 37,307 |  |  | $ | 1,759 |
The following table presents the average recorded investment and interest income recognized on loans formerly accounted for under ASC 310-20 and which are impaired loans for the periods presented:
|  |  | Three Months Ended | Nine Months Ended
|  |  | September 30, 2019 | September 30, 2019
|  |  |  |  | Average Recorded Investment |  | Interest Income Recognized | Average Recorded Investment |  | Interest Income Recognized
Commercial, financial, agricultural |  |  |  |  | $ | 5,705 |  |  | $ | 5 |  | $ | 5,656 |  |  | $ | 23 |
Lease financing |  |  |  |  | — |  |  | — |  | — |  |  | — |
Real estate – construction |  |  |  |  | 12,128 |  |  | 111 |  | 11,756 |  |  | 321 |
Real estate – 1-4 family mortgage |  |  |  |  | 12,203 |  |  | 50 |  | 12,323 |  |  | 153 |
Real estate – commercial mortgage |  |  |  |  | 10,692 |  |  | 41 |  | 10,652 |  |  | 122 |
Installment loans to individuals |  |  |  |  | 130 |  |  | — |  | 130 |  |  | 1 |
Total |  |  |  |  | $ | 40,858 |  |  | $ | 207 |  | $ | 40,517 |  |  | $ | 620 |
Purchased Loans (In Thousands, Except Number of Loans) For purposes of this Note 4, all references to “loans” mean purchased loans excluding loans held for sale. The following is a summary of purchased loans as of the dates presented:
| September 30, 2020 |  | December 31, 2019
Commercial, financial, agricultural | $ | 202,768 |  |  | $ | 315,619 |
Real estate – construction: |  |  |
Residential | 3,093 |  |  | 16,407 |
Commercial | 31,153 |  |  | 35,175 |
Total real estate – construction | 34,246 |  |  | 51,582 |
Real estate – 1-4 family mortgage: |  |  |
Primary | 245,369 |  |  | 332,729 |
Home equity | 95,235 |  |  | 117,275 |
Rental/investment | 33,567 |  |  | 43,169 |
Land development | 16,931 |  |  | 23,314 |
Total real estate – 1-4 family mortgage | 391,102 |  |  | 516,487 |
Real estate – commercial mortgage: |  |  |
Owner-occupied | 355,994 |  |  | 428,077 |
Non-owner occupied | 577,679 |  |  | 647,308 |
Land development | 32,694 |  |  | 40,004 |
Total real estate – commercial mortgage | 966,367 |  |  | 1,115,389 |
Installment loans to individuals | 66,031 |  |  | 102,587 |
Loans | $ | 1,660,514 |  |  | $ | 2,101,664 |
Past Due and Nonaccrual Loans The Company’s policies with respect to placing loans on nonaccrual status or charging off loans, and its accounting for interest on any such loans, are described above in Note 3, “Non Purchased Loans.” The Company recognized $214 in interest income on nonaccrual loans during the first nine months of 2020. The following tables provide an aging of past due accruing and nonaccruing 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
September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 1,056 |  |  | $ | 36 |  |  | $ | 189,668 |  |  | $ | 190,760 |  |  | $ | 1,655 |  |  | $ | 6,233 |  |  | $ | 4,120 |  |  | $ | 12,008 |  |  | $ | 202,768 |
Real estate – construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential | — |  |  | — |  |  | 3,093 |  |  | 3,093 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,093 |
Commercial | — |  |  | — |  |  | 31,153 |  |  | 31,153 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 31,153 |
Total real estate – construction | — |  |  | — |  |  | 34,246 |  |  | 34,246 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 34,246 |
Real estate – 1-4 family mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Primary | 845 |  |  | 64 |  |  | 238,937 |  |  | 239,846 |  |  | 329 |  |  | 2,794 |  |  | 2,400 |  |  | 5,523 |  |  | 245,369 |
Home equity | 839 |  |  | 114 |  |  | 93,006 |  |  | 93,959 |  |  | — |  |  | 629 |  |  | 647 |  |  | 1,276 |  |  | 95,235 |
Rental/investment | 356 |  |  | — |  |  | 32,409 |  |  | 32,765 |  |  | — |  |  | 708 |  |  | 94 |  |  | 802 |  |  | 33,567 |
Land development | — |  |  | — |  |  | 16,581 |  |  | 16,581 |  |  | — |  |  | 29 |  |  | 321 |  |  | 350 |  |  | 16,931 |
Total real estate – 1-4 family mortgage | 2,040 |  |  | 178 |  |  | 380,933 |  |  | 383,151 |  |  | 329 |  |  | 4,160 |  |  | 3,462 |  |  | 7,951 |  |  | 391,102 |
Real estate – commercial mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-occupied | 851 |  |  | — |  |  | 351,688 |  |  | 352,539 |  |  | 505 |  |  | 891 |  |  | 2,059 |  |  | 3,455 |  |  | 355,994 |
Non-owner occupied | 438 |  |  | 54 |  |  | 576,462 |  |  | 576,954 |  |  | 144 |  |  | 571 |  |  | 10 |  |  | 725 |  |  | 577,679 |
Land development | 161 |  |  | — |  |  | 32,142 |  |  | 32,303 |  |  | — |  |  | 164 |  |  | 227 |  |  | 391 |  |  | 32,694 |
Total real estate – commercial mortgage | 1,450 |  |  | 54 |  |  | 960,292 |  |  | 961,796 |  |  | 649 |  |  | 1,626 |  |  | 2,296 |  |  | 4,571 |  |  | 966,367 |
Installment loans to individuals | 1,844 |  |  | 50 |  |  | 63,846 |  |  | 65,740 |  |  | 9 |  |  | 123 |  |  | 159 |  |  | 291 |  |  | 66,031 |
Loans, net of unearned income | $ | 6,390 |  |  | $ | 318 |  |  | $ | 1,628,985 |  |  | $ | 1,635,693 |  |  | $ | 2,642 |  |  | $ | 12,142 |  |  | $ | 10,037 |  |  | $ | 24,821 |  |  | $ | 1,660,514 |
| 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 |
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 |
Total Loans, net | $ | 14,887 |  |  | $ | 4,317 |  |  | $ | 2,075,422 |  |  | $ | 2,094,626 |  |  | $ | 606 |  |  | $ | 4,182 |  |  | $ | 2,250 |  |  | $ | 7,038 |  |  | $ | 2,101,664 |
Restructured Loans An explanation of what constitutes a “restructured loan,” and management’s analysis in determining whether to restructure a loan, are described above in Note 3, “Non Purchased Loans.” The tables below illustrate the impact of modifications classified as restructured loans which were made during the periods presented and held on the Consolidated Balance Sheets at the respective period end.
| Number of Loans |  | Pre- Modification Outstanding Recorded Investment |  | Post- Modification Outstanding Recorded Investment
Three months ended September 30, 2020 |  |  |  |  |
Real estate – 1-4 family mortgage: |  |  |  |  |
Primary | 2 |  |  | 44 |  |  | 44 |
Total real estate – 1-4 family mortgage | 2 |  |  | 44 |  |  | 44 |
Real estate – commercial mortgage: |  |  |  |  |
Owner-occupied | 4 |  |  | 3,104 |  |  | 2,844 |
Total real estate – commercial mortgage | 4 |  |  | 3,104 |  |  | 2,844 |
Total | 6 |  |  | $ | 3,148 |  |  | $ | 2,888 |
Three months ended September 30, 2019 |  |  |  |  |
Commercial, financial, agricultural | 1 |  |  | $ | 258 |  |  | $ | 258 |
Real estate – 1-4 family mortgage | 1 |  |  | 34 |  |  | 34 |
Total | 2 |  |  | $ | 292 |  |  | $ | 292 |
| Number of Loans |  | Pre- Modification Outstanding Recorded Investment |  | Post- Modification Outstanding Recorded Investment
Nine months ended September 30, 2020 |  |  |  |  |
Commercial, financial, agricultural | 1 |  |  | $ | 1,029 |  |  | $ | 1,031 |
Real estate – 1-4 family mortgage: |  |  |  |  |
Primary | 4 |  |  | 334 |  |  | 227 |
Home equity | 1 |  |  | 159 |  |  | 162 |
Total real estate – 1-4 family mortgage | 5 |  |  | 493 |  |  | 389 |
Real estate – commercial mortgage: |  |  |  |  |
Owner-occupied | 5 |  |  | 3,173 |  |  | 2,913 |
Non-owner occupied | 1 |  |  | 542 |  |  | 544 |
Total real estate – commercial mortgage | 6 |  |  | 3,715 |  |  | 3,457 |
Installment loans to individuals | 1 |  |  | 25 |  |  | 19 |
Total | 13 |  |  | $ | 5,262 |  |  | $ | 4,896 |
Nine months ended September 30, 2019 |  |  |  |  |
Commercial, financial, agricultural | 2 |  |  | $ | 2,778 |  |  | $ | 2,778 |
Real estate – 1-4 family mortgage | 1 |  |  | 34 |  |  | 34 |
Real estate – commercial mortgage | 1 |  |  | 80 |  |  | 76 |
Total | 4 |  |  | $ | 2,892 |  |  | $ | 2,888 |
With respect to loans that were restructured during the nine months ended September 30, 2020 and September 30, 2019, none have subsequently defaulted and remain outstanding as of the date of this report. There was one restructured loan in the amount of $40 contractually 90 days past due or more and still accruing at September 30, 2020 and two restructured loans in the aggregate amount of $272 contractually 90 days past due or more and still accruing at September 30, 2019. The outstanding balance of restructured loans on nonaccrual status was $7,775 and $707 at September 30, 2020 and September 30, 2019, respectively. Changes in the Company’s restructured loans are set forth in the table below:
| Number of Loans |  | Recorded Investment
Totals at January 1, 2020 | 54 |  |  | $ | 7,275 |
Additional advances or loans with concessions | 13 |  |  | 5,159 |
Reclassified as performing restructured loan | 1 |  |  | 74 |
Reductions due to: |  |  |
Reclassified to nonperforming loans | (13) |  |  | (2,489) |
Paid in full | (2) |  |  | (422) |
Charge-offs | (1) |  |  | (3) |
Principal paydowns | — |  |  | (444) |
Totals at September 30, 2020 | 52 |  |  | $ | 9,150 |
The allowance for credit losses attributable to restructured loans was $491 and $91 at September 30, 2020 and September 30, 2019, respectively. The Company had $539 and $5 in remaining availability under commitments to lend additional funds on these restructured loans at September 30, 2020 and September 30, 2019, respectively. As discussed in Note 3, “Non Purchased Loans,” the Company implemented a loan deferral program in response to the COVID-19 pandemic. As of September 30, 2020, the Company had 465 loans with total balances of approximately $124,000 on deferral. Under the applicable guidance, none of these loans were considered “restructured loans.” Credit Quality A discussion of the Company’s policies regarding internal risk-rating of loans is discussed above in Note 3, “Non Purchased Loans.” The following table presents the Company’s loan portfolio by year of origination and internal risk-rating grades as of the dates presented:
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans | Revolving Loans Converted to Term | Total Loans
September 30, 2020 |  |  |  |  |  |  |  |  |
Commercial, Financial, Agricultural | $ | — |  | $ | 727 |  | $ | 36,120 |  | $ | 33,922 |  | $ | 29,041 |  | $ | 25,136 |  | $ | 65,214 |  | $ | 1,712 |  | $ | 191,872 |
Pass | — |  | 727 |  | 23,006 |  | 25,516 |  | 22,081 |  | 20,778 |  | 55,670 |  | 628 |  | 148,406 |
Pass-Watch | — |  | — |  | 10 |  | 1,270 |  | 1,499 |  | 584 |  | 676 |  | — |  | 4,039 |
Substandard | — |  | — |  | 13,104 |  | 7,136 |  | 5,461 |  | 3,774 |  | 8,868 |  | 1,084 |  | 39,427 |
Real Estate - Construction | $ | — |  | $ | — |  | $ | 10,887 |  | $ | 9,268 |  | $ | 14,091 |  | $ | — |  | $ | — |  | $ | — |  | $ | 34,246 |
Residential | $ | — |  | $ | — |  | $ | 2,203 |  | $ | 207 |  | $ | 683 |  | $ | — |  | $ | — |  | $ | — |  | $ | 3,093 |
Pass | — |  | — |  | 2,203 |  | 207 |  | 683 |  | — |  | — |  | — |  | 3,093 |
Pass-Watch | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Commercial | $ | — |  | $ | — |  | $ | 8,684 |  | $ | 9,061 |  | $ | 13,408 |  | $ | — |  | $ | — |  | $ | — |  | $ | 31,153 |
Pass | — |  | — |  | 8,684 |  | 9,061 |  | 13,408 |  | — |  | — |  | — |  | 31,153 |
Pass-Watch | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Real Estate - 1-4 Family Mortgage | $ | — |  | $ | — |  | $ | 14,029 |  | $ | 9,639 |  | $ | 2,012 |  | $ | 40,034 |  | $ | 2,653 |  | $ | 253 |  | $ | 68,620 |
Primary | $ | — |  | $ | — |  | $ | 7,734 |  | $ | 5,163 |  | $ | 611 |  | $ | 17,809 |  | $ | 249 |  | $ | — |  | $ | 31,566 |
Pass | — |  | — |  | 6,438 |  | 5,163 |  | 604 |  | 12,904 |  | 249 |  | — |  | 25,358 |
Pass-Watch | — |  | — |  | — |  | — |  | — |  | 314 |  | — |  | — |  | 314 |
Substandard | — |  | — |  | 1,296 |  | — |  | 7 |  | 4,591 |  | — |  | — |  | 5,894 |
Home Equity | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 943 |  | $ | 253 |  | $ | 1,196 |
Pass | — |  | — |  | — |  | — |  | — |  | — |  | 221 |  | — |  | 221 |
Pass-Watch | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | 722 |  | 253 |  | 975 |
Rental/Investment | $ | — |  | $ | — |  | $ | — |  | $ | 1,904 |  | $ | 316 |  | $ | 19,013 |  | $ | — |  | $ | — |  | $ | 21,233 |
Pass | — |  | — |  | — |  | 1,904 |  | 316 |  | 16,511 |  | — |  | — |  | 18,731 |
Pass-Watch | — |  | — |  | — |  | — |  | — |  | 201 |  | — |  | — |  | 201 |
Substandard | — |  | — |  | — |  | — |  | — |  | 2,301 |  | — |  | — |  | 2,301 |
Land Development | $ | — |  | $ | — |  | $ | 6,295 |  | $ | 2,572 |  | $ | 1,085 |  | $ | 3,212 |  | $ | 1,461 |  | $ | — |  | $ | 14,625 |
Pass | — |  | — |  | 6,295 |  | 2,549 |  | 1,085 |  | 1,842 |  | 1,461 |  | — |  | 13,232 |
Pass-Watch | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | 23 |  | — |  | 1,370 |  | — |  | — |  | 1,393 |
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans | Revolving Loans Converted to Term | Total Loans
Real Estate - Commercial Mortgage | $ | — |  | $ | — |  | $ | 77,627 |  | $ | 158,074 |  | $ | 180,313 |  | $ | 482,175 |  | $ | 21,918 |  | $ | 4,684 |  | $ | 924,791 |
Owner-Occupied | $ | — |  | $ | — |  | $ | 14,819 |  | $ | 34,515 |  | $ | 63,851 |  | $ | 204,177 |  | $ | 15,144 |  | $ | 2 |  | $ | 332,508 |
Pass | — |  | — |  | 12,732 |  | 31,558 |  | 44,681 |  | 157,159 |  | 4,987 |  | — |  | 251,117 |
Pass-Watch | — |  | — |  | 2,087 |  | 1,615 |  | 11,202 |  | 24,427 |  | — |  | — |  | 39,331 |
Substandard | — |  | — |  | — |  | 1,342 |  | 7,968 |  | 22,591 |  | 10,157 |  | 2 |  | 42,060 |
Non-Owner Occupied | $ | — |  | $ | — |  | $ | 56,269 |  | $ | 119,256 |  | $ | 113,496 |  | $ | 264,440 |  | $ | 6,596 |  | $ | 4,682 |  | $ | 564,739 |
Pass | — |  | — |  | 31,398 |  | 87,363 |  | 69,930 |  | 219,100 |  | 6,596 |  | — |  | 414,387 |
Pass-Watch | — |  | — |  | 8,504 |  | 24,215 |  | 30,691 |  | 33,749 |  | — |  | 4,682 |  | 101,841 |
Substandard | — |  | — |  | 16,367 |  | 7,678 |  | 12,875 |  | 11,591 |  | — |  | — |  | 48,511 |
Land Development | $ | — |  | $ | — |  | $ | 6,539 |  | $ | 4,303 |  | $ | 2,966 |  | $ | 13,558 |  | $ | 178 |  | $ | — |  | $ | 27,544 |
Pass | — |  | — |  | 5,665 |  | 4,249 |  | 2,785 |  | 6,000 |  | 66 |  | — |  | 18,765 |
Pass-Watch | — |  | — |  | 874 |  | 54 |  | 44 |  | 6,141 |  | 112 |  | — |  | 7,225 |
Substandard | — |  | — |  | — |  | — |  | 137 |  | 1,417 |  | — |  | — |  | 1,554 |
Total loans subject to risk rating | $ | — |  | $ | 727 |  | $ | 138,663 |  | $ | 210,903 |  | $ | 225,457 |  | $ | 547,346 |  | $ | 89,785 |  | $ | 6,649 |  | $ | 1,219,530 |
Pass | — |  | 727 |  | 96,421 |  | 167,570 |  | 155,573 |  | 434,295 |  | 69,250 |  | 628 |  | 924,464 |
Pass-Watch | — |  | — |  | 11,475 |  | 27,154 |  | 43,436 |  | 65,416 |  | 788 |  | 4,682 |  | 152,951 |
Substandard | — |  | — |  | 30,767 |  | 16,179 |  | 26,448 |  | 47,635 |  | 19,747 |  | 1,339 |  | 142,115 |
The following table presents the performing status of the Company’s loan portfolio not subject to risk rating by origination date:
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans | Revolving Loans Converted to Term | Total Loans
September 30, 2020 |  |  |  |  |  |  |  |  |
Commercial, Financial, Agricultural | $ | — |  | $ | — |  | $ | 491 |  | $ | 355 |  | $ | 330 |  | $ | 2,846 |  | $ | 6,825 |  | $ | 49 |  | $ | 10,896 |
Performing Loans | — |  | — |  | 491 |  | 355 |  | 330 |  | 2,846 |  | 6,825 |  | 49 |  | 10,896 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Real Estate - Construction | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Residential | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Performing Loans | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Real Estate - 1-4 Family Mortgage | $ | — |  | $ | 375 |  | $ | 3,264 |  | $ | 43,061 |  | $ | 32,608 |  | $ | 156,497 |  | $ | 84,500 |  | $ | 2,177 |  | $ | 322,482 |
Primary | $ | — |  | $ | 250 |  | $ | 2,029 |  | $ | 38,366 |  | $ | 30,249 |  | $ | 142,336 |  | $ | 461 |  | $ | 112 |  | $ | 213,803 |
Performing Loans | — |  | 250 |  | 1,918 |  | 37,605 |  | 30,227 |  | 137,837 |  | 461 |  | 26 |  | 208,324 |
Non-Performing Loans | — |  | — |  | 111 |  | 761 |  | 22 |  | 4,499 |  | — |  | 86 |  | 5,479 |
Home Equity | $ | — |  | $ | — |  | $ | 744 |  | $ | 4,472 |  | $ | 1,799 |  | $ | 1,040 |  | $ | 83,919 |  | $ | 2,065 |  | $ | 94,039 |
Performing Loans | — |  | — |  | 744 |  | 4,472 |  | 1,799 |  | 973 |  | 83,274 |  | 1,640 |  | 92,902 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | 67 |  | 645 |  | 425 |  | 1,137 |
Rental/Investment | $ | — |  | $ | 125 |  | $ | — |  | $ | 150 |  | $ | 203 |  | $ | 11,736 |  | $ | 120 |  | $ | — |  | $ | 12,334 |
Performing Loans | — |  | 125 |  | — |  | 150 |  | 203 |  | 11,632 |  | 120 |  | — |  | 12,230 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | 104 |  | — |  | — |  | 104 |
Land Development | $ | — |  | $ | — |  | $ | 491 |  | $ | 73 |  | $ | 357 |  | $ | 1,385 |  | $ | — |  | $ | — |  | $ | 2,306 |
Performing Loans | — |  | — |  | 491 |  | 30 |  | 118 |  | 1,385 |  | — |  | — |  | 2,024 |
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans | Revolving Loans Converted to Term | Total Loans
Non-Performing Loans | — |  | — |  | — |  | 43 |  | 239 |  | — |  | — |  | — |  | 282 |
Real Estate - Commercial Mortgage | $ | — |  | $ | 339 |  | $ | 620 |  | $ | 1,339 |  | $ | 998 |  | $ | 36,416 |  | $ | 1,864 |  | $ | — |  | $ | 41,576 |
Owner-Occupied | $ | — |  | $ | — |  | $ | — |  | $ | 955 |  | $ | 670 |  | $ | 20,457 |  | $ | 1,404 |  | $ | — |  | $ | 23,486 |
Performing Loans | — |  | — |  | — |  | 955 |  | 670 |  | 20,175 |  | 1,404 |  | — |  | 23,204 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | 282 |  | — |  | — |  | 282 |
Non-Owner Occupied | $ | — |  | $ | 339 |  | $ | 463 |  | $ | 50 |  | $ | 67 |  | $ | 11,854 |  | $ | 167 |  | $ | — |  | $ | 12,940 |
Performing Loans | — |  | 339 |  | 463 |  | 50 |  | 67 |  | 11,656 |  | 167 |  | — |  | 12,742 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | 198 |  | — |  | — |  | 198 |
Land Development | $ | — |  | $ | — |  | $ | 157 |  | $ | 334 |  | $ | 261 |  | $ | 4,105 |  | $ | 293 |  | $ | — |  | $ | 5,150 |
Performing Loans | — |  | — |  | 157 |  | 334 |  | 261 |  | 4,044 |  | 293 |  | — |  | 5,089 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | 61 |  | — |  | — |  | 61 |
Installment loans to individuals | $ | — |  | $ | — |  | $ | 39,966 |  | $ | 17,061 |  | $ | 1,265 |  | $ | 4,497 |  | $ | 3,206 |  | $ | 35 |  | $ | 66,030 |
Performing Loans | — |  | — |  | 39,901 |  | 16,985 |  | 1,187 |  | 4,375 |  | 3,206 |  | 35 |  | 65,689 |
Non-Performing Loans | — |  | — |  | 65 |  | 76 |  | 78 |  | 122 |  | — |  | — |  | 341 |
Total loans not subject to risk rating | $ | — |  | $ | 714 |  | $ | 44,341 |  | $ | 61,816 |  | $ | 35,201 |  | $ | 200,256 |  | $ | 96,395 |  | $ | 2,261 |  | $ | 440,984 |
Performing Loans | — |  | 714 |  | 44,165 |  | 60,936 |  | 34,862 |  | 194,923 |  | 95,750 |  | 1,750 |  | 433,100 |
Non-Performing Loans | — |  | — |  | 176 |  | 880 |  | 339 |  | 5,333 |  | 645 |  | 511 |  | 7,884 |
The following disclosures are presented under GAAP in effect prior to the adoption of CECL. The Company has included these disclosures to address the applicable prior period. A discussion of the Company’s policies regarding internal risk-rating of loans is discussed above in Note 3, “Non Purchased Loans,” and is applicable to these tables. The following table presents the Company’s loan portfolio by internal risk-rating grades as of the date presented:
| Pass |  | 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 |
The following table presents the performing status of the Company’s loan portfolio not subject to risk rating as of the date presented:
| Performing |  | Non- Performing |  | Total
December 31, 2019 |  |  |  |  |
Commercial, financial, agricultural | $ | 13,935 |  |  | $ | — |  |  | $ | 13,935 |
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 |
The following disclosures are presented under GAAP in effect prior to the adoption of CECL that are no longer applicable or required. The Company has included these disclosures to address the applicable prior periods. Impaired Loans The Company’s former policies with respect to the determination of whether a loan is impaired and the treatment of such loans are described above in Note 3, “Non Purchased Loans.” Loans formerly accounted for under ASC 310-20, and which are impaired loans recognized in conformity with ASC 310, segregated by class, were as follows as of the date presented:
| Unpaid Contractual Principal Balance |  | Recorded Investment With Allowance |  | Recorded Investment With No Allowance |  | Total Recorded Investment |  | Related Allowance
December 31, 2019 |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 2,979 |  |  | $ | 1,837 |  |  | $ | 901 |  |  | $ | 2,738 |  |  | $ | 212 |
Real estate – construction | 3,269 |  |  | 2,499 |  |  | 772 |  |  | 3,271 |  |  | 16 |
Real estate – 1-4 family mortgage | 7,464 |  |  | 2,801 |  |  | 3,772 |  |  | 6,573 |  |  | 17 |
Real estate – commercial mortgage | 1,148 |  |  | 981 |  |  | 128 |  |  | 1,109 |  |  | 6 |
Installment loans to individuals | 202 |  |  | 110 |  |  | 71 |  |  | 181 |  |  | 2 |
Totals | $ | 15,062 |  |  | $ | 8,228 |  |  | $ | 5,644 |  |  | $ | 13,872 |  |  | $ | 253 |
The following table presents the average recorded investment and interest income recognized on loans formerly accounted for under ASC 310-20 and which are impaired loans for the periods presented:
| Three Months Ended |  | Nine Months Ended
| September 30, 2019 |  | September 30, 2019
| Average Recorded Investment |  | Interest Income Recognized |  | Average Recorded Investment |  | Interest Income Recognized
Commercial, financial, agricultural | $ | 2,533 |  |  | $ | 2 |  |  | $ | 2,312 |  |  | $ | 6 |
Real estate – construction | 256 |  |  | — |  |  | 256 |  |  | 3 |
Real estate – 1-4 family mortgage | 5,364 |  |  | 30 |  |  | 5,468 |  |  | 96 |
Real estate – commercial mortgage | 1,150 |  |  | 11 |  |  | 1,185 |  |  | 36 |
Installment loans to individuals | 333 |  |  | — |  |  | 340 |  |  | — |
Total | $ | 9,636 |  |  | $ | 43 |  |  | $ | 9,561 |  |  | $ | 141 |
Loans formerly accounted for under ASC 310-30, and which are impaired loans recognized in conformity with ASC 310, segregated by class, were as follows as of the date presented:
| Unpaid Contractual Principal Balance |  | Recorded Investment With Allowance |  | Recorded Investment With No Allowance |  | Total Recorded Investment |  | Related Allowance
December 31, 2019 |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 49,162 |  |  | $ | 3,695 |  |  | $ | 25,843 |  |  | $ | 29,538 |  |  | $ | 292 |
Real estate – construction | 882 |  |  | — |  |  | 863 |  |  | 863 |  |  | — |
Real estate – 1-4 family mortgage | 42,969 |  |  | 10,061 |  |  | 25,482 |  |  | 35,543 |  |  | 291 |
Real estate – commercial mortgage | 119,929 |  |  | 52,501 |  |  | 50,632 |  |  | 103,133 |  |  | 1,386 |
Installment loans to individuals | 5,411 |  |  | 640 |  |  | 2,547 |  |  | 3,187 |  |  | 2 |
Totals | $ | 218,353 |  |  | $ | 66,897 |  |  | $ | 105,367 |  |  | $ | 172,264 |  |  | $ | 1,971 |
The following table presents the average recorded investment and interest income recognized on loans formerly accounted for under ASC 310-30 and which are impaired loans for the period presented:
| Three Months Ended |  | Nine Months Ended
| September 30, 2019 |  | September 30, 2019
| Average Recorded Investment |  | Interest Income Recognized |  | Average Recorded Investment |  | Interest Income Recognized
Commercial, financial, agricultural | $ | 32,150 |  |  | $ | 283 |  |  | $ | 35,304 |  |  | $ | 1,145 |
Real estate – construction | 558 |  |  | 8 |  |  | 560 |  |  | 8 |
Real estate – 1-4 family mortgage | 38,031 |  |  | 538 |  |  | 38,682 |  |  | 1,699 |
Real estate – commercial mortgage | 117,179 |  |  | 1,541 |  |  | 119,327 |  |  | 5,015 |
Installment loans to individuals | 3,192 |  |  | 86 |  |  | 3,576 |  |  | 287 |
Total | $ | 191,110 |  |  | $ | 2,456 |  |  | $ | 197,449 |  |  | $ | 8,154 |
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 date presented:
| Total Purchased Credit Deteriorated Loans
December 31, 2019 |
Commercial, financial, agricultural | $ | 29,538 |
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 |

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