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Purchased Loans | 12 Months Ended
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Dec. 31, 2020
Receivables [Abstract] |
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 3, all references to “loans” mean non purchased loans, including PPP loans. The following is a summary of non purchased loans and leases at December 31:
| 2020 |  | 2019
Commercial, financial, agricultural | $ | 2,360,471 |  |  | $ | 1,052,353 |
Lease financing | 80,022 |  |  | 85,700 |
Real estate – construction: |  |  |
Residential | 243,814 |  |  | 272,643 |
Commercial | 583,338 |  |  | 502,258 |
Total real estate – construction | 827,152 |  |  | 774,901 |
Real estate – 1-4 family mortgage: |  |  |
Primary | 1,536,181 |  |  | 1,449,219 |
Home equity | 432,768 |  |  | 456,265 |
Rental/investment | 264,436 |  |  | 291,931 |
Land development | 123,179 |  |  | 152,711 |
Total real estate – 1-4 family mortgage | 2,356,564 |  |  | 2,350,126 |
Real estate – commercial mortgage: |  |  |
Owner-occupied | 1,334,765 |  |  | 1,209,204 |
Non-owner occupied | 2,194,739 |  |  | 1,803,587 |
Land development | 120,125 |  |  | 116,085 |
Total real estate – commercial mortgage | 3,649,629 |  |  | 3,128,876 |
Installment loans to individuals | 149,862 |  |  | 199,843 |
Gross loans | 9,423,700 |  |  | 7,591,799 |
Unearned income | (4,160) |  |  | (3,825) |
Loans, net of unearned income | $ | 9,419,540 |  |  | $ | 7,587,974 |
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, 2020 |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 1,124 |  | $ | 231 |  | $ | 2,354,716 |  | $ | 2,356,071 |  | $ | 164 |  | $ | 1,804 |  | $ | 2,432 |  | $ | 4,400 |  | $ | 2,360,471 |
Lease financing | — |  | — |  | 79,974 |  | 79,974 |  | — |  | 48 |  | — |  | 48 |  | 80,022 |
Real estate – construction: |  |  |  |  |  |  |  |  |
Residential | — |  | — |  | 243,317 |  | 243,317 |  | — |  | 497 |  | — |  | 497 |  | 243,814 |
Commercial | — |  | — |  | 583,338 |  | 583,338 |  | — |  | — |  | — |  | — |  | 583,338 |
Total real estate – construction | — |  | — |  | 826,655 |  | 826,655 |  | — |  | 497 |  | — |  | 497 |  | 827,152 |
Real estate – 1-4 family mortgage: |  |  |  |  |  |  |  |  |
Primary | 11,889 |  | 1,754 |  | 1,513,716 |  | 1,527,359 |  | 1,865 |  | 2,744 |  | 4,213 |  | 8,822 |  | 1,536,181 |
Home equity | 1,152 |  | 360 |  | 430,702 |  | 432,214 |  | 66 |  | 111 |  | 377 |  | 554 |  | 432,768 |
Rental/investment | 663 |  | 210 |  | 263,064 |  | 263,937 |  | 61 |  | 194 |  | 244 |  | 499 |  | 264,436 |
Land development | 97 |  | — |  | 123,051 |  | 123,148 |  | — |  | — |  | 31 |  | 31 |  | 123,179 |
Total real estate – 1-4 family mortgage | 13,801 |  | 2,324 |  | 2,330,533 |  | 2,346,658 |  | 1,992 |  | 3,049 |  | 4,865 |  | 9,906 |  | 2,356,564 |
Real estate – commercial mortgage: |  |  |  |  |  |  |  |  |
Owner-occupied | 779 |  | 795 |  | 1,330,155 |  | 1,331,729 |  | — |  | 2,598 |  | 438 |  | 3,036 |  | 1,334,765 |
Non-owner occupied | 922 |  | 127 |  | 2,191,440 |  | 2,192,489 |  | — |  | 2,197 |  | 53 |  | 2,250 |  | 2,194,739 |
Land development | 113 |  | 115 |  | 119,820 |  | 120,048 |  | 44 |  | 29 |  | 4 |  | 77 |  | 120,125 |
Total real estate – commercial mortgage | 1,814 |  | 1,037 |  | 3,641,415 |  | 3,644,266 |  | 44 |  | 4,824 |  | 495 |  | 5,363 |  | 3,649,629 |
Installment loans to individuals | 896 |  | 191 |  | 148,620 |  | 149,707 |  | 4 |  | 117 |  | 34 |  | 155 |  | 149,862 |
Unearned income | — |  | — |  | (4,160) |  | (4,160) |  | — |  | — |  | — |  | — |  | (4,160) |
Loans, net of unearned income | $ | 17,635 |  | $ | 3,783 |  | $ | 9,377,753 |  | $ | 9,399,171 |  | $ | 2,204 |  | $ | 10,339 |  | $ | 7,826 |  | $ | 20,369 |  | $ | 9,419,540 |
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 |
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 $177 that were contractually 90 days past due or more and still accruing at December 31, 2020. There were two restructured loans totaling $164 that were contractually 90 days past due or more and still accruing at December 31, 2019. The outstanding balance of restructured loans on nonaccrual status was $5,787 and $3,058 at December 31, 2020 and 2019, respectively. Restructured Loans At December 31, 2020, 2019 and 2018, there were $11,761, $4,679 and $5,325, 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, 2020 |  |  |  |  |
Commercial, financial, agricultural | 7 |  |  | 1,862 |  |  | 1,859 |
Real estate – 1-4 family mortgage: |  |  |  |  |
Primary | 20 |  |  | 3,594 |  |  | 3,659 |
Rental/investment | 3 |  |  | 142 |  |  | 207 |
Total real estate – 1-4 family mortgage | 23 |  |  | 3,736 |  |  | 3,866 |
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 | 38 |  |  | 9,040 |  |  | 9,115 |
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 |
At December 31, 2020 and December 31, 2018 the Company had $448 and $139, 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 that remained outstanding at period end. Changes in the Company’s restructured loans are set forth in the table below.
| Number of Loans |  | Recorded Investment
Totals at January 1, 2019 | 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 |
Additional advances or loans with concessions | 38 |  |  | 9,155 |
Reclassified as performing | 3 |  |  | 354 |
Reductions due to: |  |  |
Reclassified as nonperforming | (5) |  |  | (758) |
Paid in full | (6) |  |  | (1,409) |
Principal paydowns | — |  |  | (260) |
Totals at December 31, 2020 | 76 |  |  | $ | 11,761 |
The allocated allowance for credit losses attributable to restructured loans was $337 and $125 at December 31, 2020 and 2019, respectively. The Company had no remaining availability under commitments to lend additional funds on these restructured loans at December 31, 2020 and December 31, 2019. In response to the 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 is qualified for an initial 90-day deferral of principal and interest payments. Principal and interest payments can be deferred for up to 180 days on residential mortgage loans. A second deferral is 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 December 31, 2020, the Company had 622 loans with total balances of approximately $112,000 on deferral. In accordance with the applicable guidance, none of these loans were considered “restructured loans.” Credit Quality For commercial purpose 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 4C. During the first quarter of 2020, the Company proactively identified 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) and created the risk rating of 4C. These were originally downgraded to “Pass-Watch” during the year as the Company reviewed these loans and its risk rating categories. After an extensive review, the Company determined that it was appropriate to classify 4B and 4C rated loans as “Pass”. The Company also determined that it would be appropriate to establish a “Special Mention” grade (those with a risk rating of 4E). This grade represents a loan where a significant adverse risk-modifying action is anticipated in the near term and left uncorrected, could result in deterioration of the credit quality of the loan. In 2019, the Company classified 4B and 4E rated loans as “Watch”, which was used on a temporary basis for “Pass” graded loans that required greater attention. 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 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
December 31, 2020 |  |  |  |  |  |  |  |  |
Commercial, Financial, Agricultural | $ | 1,448,273 |  | $ | 183,627 |  | $ | 76,912 |  | $ | 36,866 |  | $ | 18,124 |  | $ | 15,844 |  | $ | 255,522 |  | $ | 2,449 |  | $ | 2,037,617 |
Pass | 1,447,594 |  | 180,979 |  | 73,325 |  | 31,362 |  | 16,308 |  | 14,626 |  | 250,528 |  | 1,562 |  | 2,016,284 |
Special Mention | 128 |  | 1,952 |  | 2,091 |  | 3,850 |  | 1,416 |  | 109 |  | 187 |  | — |  | 9,733 |
Substandard | 551 |  | 696 |  | 1,496 |  | 1,654 |  | 400 |  | 1,109 |  | 4,807 |  | 887 |  | 11,600 |
Real Estate - Construction | $ | 398,891 |  | $ | 266,471 |  | $ | 52,520 |  | $ | 29,300 |  | $ | — |  | $ | — |  | $ | 13,927 |  | $ | — |  | $ | 761,109 |
Residential | $ | 154,649 |  | $ | 9,836 |  | $ | 2,114 |  | $ | — |  | $ | — |  | $ | — |  | $ | 13,923 |  | $ | — |  | $ | 180,522 |
Pass | 154,419 |  | 9,339 |  | 2,114 |  | — |  | — |  | — |  | 13,923 |  | — |  | 179,795 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | 230 |  | 497 |  | — |  | — |  | — |  | — |  | — |  | — |  | 727 |
Commercial | $ | 244,242 |  | $ | 256,635 |  | $ | 50,406 |  | $ | 29,300 |  | $ | — |  | $ | — |  | $ | 4 |  | $ | — |  | $ | 580,587 |
Pass | 244,242 |  | 251,937 |  | 50,406 |  | 29,300 |  | — |  | — |  | 4 |  | — |  | 575,889 |
Special Mention | — |  | 4,698 |  | — |  | — |  | — |  | — |  | — |  | — |  | 4,698 |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Real Estate - 1-4 Family Mortgage | $ | 110,246 |  | $ | 78,482 |  | $ | 36,613 |  | $ | 30,018 |  | $ | 13,197 |  | $ | 7,172 |  | $ | 10,658 |  | $ | 1,909 |  | $ | 288,295 |
Primary | $ | 9,422 |  | $ | 6,691 |  | $ | 3,988 |  | $ | 4,644 |  | $ | 371 |  | $ | 1,060 |  | $ | 629 |  | $ | — |  | $ | 26,805 |
Pass | 9,422 |  | 5,870 |  | 3,988 |  | 4,644 |  | 371 |  | 1,045 |  | 629 |  | — |  | 25,969 |
Special Mention | — |  | 125 |  | — |  | — |  | — |  | — |  | — |  | — |  | 125 |
Substandard | — |  | 696 |  | — |  | — |  | — |  | 15 |  | — |  | — |  | 711 |
Home Equity | $ | 157 |  | $ | 184 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 6,051 |  | $ | — |  | $ | 6,392 |
Pass | 157 |  | 184 |  | — |  | — |  | — |  | — |  | 6,051 |  | — |  | 6,392 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Rental/Investment | $ | 50,558 |  | $ | 32,656 |  | $ | 27,483 |  | $ | 25,019 |  | $ | 12,620 |  | $ | 5,699 |  | $ | 1,066 |  | $ | 557 |  | $ | 155,658 |
Pass | 50,371 |  | 31,724 |  | 26,695 |  | 24,872 |  | 12,439 |  | 5,166 |  | 1,066 |  | 557 |  | 152,890 |
Special Mention | — |  | — |  | — |  | 83 |  | 77 |  | 133 |  | — |  | — |  | 293 |
Substandard | 187 |  | 932 |  | 788 |  | 64 |  | 104 |  | 400 |  | — |  | — |  | 2,475 |
Land Development | $ | 50,109 |  | $ | 38,951 |  | $ | 5,142 |  | $ | 355 |  | $ | 206 |  | $ | 413 |  | $ | 2,912 |  | $ | 1,352 |  | $ | 99,440 |
Pass | 50,109 |  | 38,388 |  | 5,142 |  | 355 |  | 203 |  | 413 |  | 2,912 |  | 1,352 |  | 98,874 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | 563 |  | — |  | — |  | 3 |  | — |  | — |  | — |  | 566 |
Real Estate - Commercial Mortgage | $ | 967,746 |  | $ | 801,083 |  | $ | 444,205 |  | $ | 402,110 |  | $ | 340,774 |  | $ | 277,789 |  | $ | 76,115 |  | $ | 20,845 |  | $ | 3,330,667 |
Owner-Occupied | $ | 295,642 |  | $ | 256,807 |  | $ | 199,082 |  | $ | 169,527 |  | $ | 99,540 |  | $ | 85,614 |  | $ | 16,683 |  | $ | 9,733 |  | $ | 1,132,628 |
Pass | 293,851 |  | 255,206 |  | 193,716 |  | 163,358 |  | 96,128 |  | 83,582 |  | 16,043 |  | 7,896 |  | 1,109,780 |
Special Mention | 1,167 |  | 847 |  | — |  | 2,067 |  | 228 |  | 311 |  | — |  | 1,837 |  | 6,457 |
Substandard | 624 |  | 754 |  | 5,366 |  | 4,102 |  | 3,184 |  | 1,721 |  | 640 |  | — |  | 16,391 |
Non-Owner Occupied | $ | 635,232 |  | $ | 522,998 |  | $ | 237,075 |  | $ | 229,304 |  | $ | 236,347 |  | $ | 189,077 |  | $ | 52,456 |  | $ | 11,112 |  | $ | 2,113,601 |
Pass | 624,289 |  | 514,030 |  | 237,075 |  | 184,673 |  | 218,106 |  | 175,702 |  | 52,456 |  | 11,112 |  | 2,017,443 |
Special Mention | 9,105 |  | — |  | — |  | 39,007 |  | 4,688 |  | 10,788 |  | — |  | — |  | 63,588 |
Substandard | 1,838 |  | 8,968 |  | — |  | 5,624 |  | 13,553 |  | 2,587 |  | — |  | — |  | 32,570 |
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans | Revolving Loans Converted to Term | Total Loans
Land Development | $ | 36,872 |  | $ | 21,278 |  | $ | 8,048 |  | $ | 3,279 |  | $ | 4,887 |  | $ | 3,098 |  | $ | 6,976 |  | $ | — |  | $ | 84,438 |
Pass | 34,719 |  | 21,278 |  | 6,925 |  | 3,210 |  | 3,274 |  | 3,098 |  | 6,976 |  | — |  | 79,480 |
Special Mention | — |  | — |  | 1,123 |  | 69 |  | 46 |  | — |  | — |  | — |  | 1,238 |
Substandard | 2,153 |  | — |  | — |  | — |  | 1,567 |  | — |  | — |  | — |  | 3,720 |
Installment loans to individuals | $ | 74 |  | $ | 4 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 16 |  | $ | 94 |
Pass | 74 |  | 4 |  | — |  | — |  | — |  | — |  | — |  | 16 |  | 94 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total loans subject to risk rating | $ | 2,925,230 |  | $ | 1,329,667 |  | $ | 610,250 |  | $ | 498,294 |  | $ | 372,095 |  | $ | 300,805 |  | $ | 356,222 |  | $ | 25,219 |  | $ | 6,417,782 |
Pass | 2,909,247 |  | 1,308,939 |  | 599,386 |  | 441,774 |  | 346,829 |  | 283,632 |  | 350,588 |  | 22,495 |  | 6,262,890 |
Special Mention | 10,400 |  | 7,622 |  | 3,214 |  | 45,076 |  | 6,455 |  | 11,341 |  | 187 |  | 1,837 |  | 86,132 |
Substandard | 5,583 |  | 13,106 |  | 7,650 |  | 11,444 |  | 18,811 |  | 5,832 |  | 5,447 |  | 887 |  | 68,760 |
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
December 31, 2020 |  |  |  |  |  |  |  |  |
Commercial, Financial, Agricultural | $ | 33,805 |  | $ | 16,455 |  | $ | 10,381 |  | $ | 6,396 |  | $ | 2,826 |  | $ | 7,201 |  | $ | 245,485 |  | $ | 305 |  | $ | 322,854 |
Performing Loans | 33,794 |  | 16,343 |  | 10,340 |  | 6,026 |  | 2,748 |  | 7,181 |  | 245,059 |  | 305 |  | 321,796 |
Non-Performing Loans | 11 |  | 112 |  | 41 |  | 370 |  | 78 |  | 20 |  | 426 |  | — |  | 1,058 |
Lease Financing Receivables | $ | 32,150 |  | $ | 25,270 |  | $ | 10,999 |  | $ | 4,231 |  | $ | 1,040 |  | $ | 2,172 |  | $ | — |  | $ | — |  | $ | 75,862 |
Performing Loans | 32,150 |  | 25,270 |  | 10,999 |  | 4,231 |  | 992 |  | 2,172 |  | — |  | — |  | 75,814 |
Non-Performing Loans | — |  | — |  | — |  | — |  | 48 |  | — |  | — |  | — |  | 48 |
Real Estate - Construction | $ | 54,918 |  | $ | 10,334 |  | $ | 295 |  | $ | 153 |  | $ | — |  | $ | — |  | $ | 343 |  | $ | — |  | $ | 66,043 |
Residential | $ | 53,108 |  | $ | 9,393 |  | $ | 295 |  | $ | 153 |  | $ | — |  | $ | — |  | $ | 343 |  | $ | — |  | $ | 63,292 |
Performing Loans | 53,108 |  | 9,393 |  | 295 |  | 153 |  | — |  | — |  | 343 |  | — |  | 63,292 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Commercial | $ | 1,810 |  | $ | 941 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 2,751 |
Performing Loans | 1,810 |  | 941 |  | — |  | — |  | — |  | — |  | — |  | — |  | 2,751 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
| 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 - 1-4 Family Mortgage | $ | 517,553 |  | $ | 344,643 |  | $ | 261,735 |  | $ | 196,777 |  | $ | 105,216 |  | $ | 212,214 |  | $ | 426,437 |  | $ | 3,694 |  | $ | 2,068,269 |
Primary | $ | 470,034 |  | $ | 321,155 |  | $ | 239,542 |  | $ | 176,926 |  | $ | 92,195 |  | $ | 207,721 |  | $ | 1,758 |  | $ | 45 |  | $ | 1,509,376 |
Performing Loans | 470,034 |  | 318,929 |  | 235,816 |  | 175,219 |  | 91,479 |  | 205,530 |  | 1,747 |  | 45 |  | 1,498,799 |
Non-Performing Loans | — |  | 2,226 |  | 3,726 |  | 1,707 |  | 716 |  | 2,191 |  | 11 |  | — |  | 10,577 |
Home Equity | $ | — |  | $ | 203 |  | $ | 372 |  | $ | — |  | $ | 45 |  | $ | 799 |  | $ | 421,838 |  | $ | 3,119 |  | $ | 426,376 |
Performing Loans | — |  | 203 |  | 372 |  | — |  | 45 |  | 684 |  | 421,516 |  | 2,642 |  | 425,462 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | 115 |  | 322 |  | 477 |  | 914 |
Rental/Investment | $ | 34,079 |  | $ | 20,499 |  | $ | 18,319 |  | $ | 17,758 |  | $ | 11,907 |  | $ | 3,356 |  | $ | 2,330 |  | $ | 530 |  | $ | 108,778 |
Performing Loans | 34,079 |  | 20,404 |  | 18,245 |  | 17,595 |  | 11,901 |  | 3,196 |  | 2,330 |  | 530 |  | 108,280 |
Non-Performing Loans | — |  | 95 |  | 74 |  | 163 |  | 6 |  | 160 |  | — |  | — |  | 498 |
Land Development | $ | 13,440 |  | $ | 2,786 |  | $ | 3,502 |  | $ | 2,093 |  | $ | 1,069 |  | $ | 338 |  | $ | 511 |  | $ | — |  | $ | 23,739 |
Performing Loans | 13,440 |  | 2,786 |  | 3,502 |  | 2,062 |  | 1,069 |  | 338 |  | 511 |  | — |  | 23,708 |
Non-Performing Loans | — |  | — |  | — |  | 31 |  | — |  | — |  | — |  | — |  | 31 |
Real Estate - Commercial Mortgage | $ | 81,953 |  | $ | 71,063 |  | $ | 56,193 |  | $ | 47,013 |  | $ | 35,801 |  | $ | 15,679 |  | $ | 10,772 |  | $ | 488 |  | $ | 318,962 |
Owner-Occupied | $ | 48,814 |  | $ | 44,606 |  | $ | 36,661 |  | $ | 30,266 |  | $ | 23,974 |  | $ | 11,608 |  | $ | 5,919 |  | $ | 289 |  | $ | 202,137 |
Performing Loans | 48,814 |  | 44,344 |  | 36,349 |  | 30,097 |  | 23,885 |  | 11,216 |  | 5,904 |  | 289 |  | 200,898 |
Non-Performing Loans | — |  | 262 |  | 312 |  | 169 |  | 89 |  | 392 |  | 15 |  | — |  | 1,239 |
Non-Owner Occupied | $ | 20,483 |  | $ | 18,585 |  | $ | 14,544 |  | $ | 13,821 |  | $ | 8,068 |  | $ | 3,491 |  | $ | 1,999 |  | $ | 147 |  | $ | 81,138 |
Performing Loans | 20,483 |  | 18,460 |  | 14,486 |  | 13,821 |  | 8,068 |  | 3,439 |  | 1,999 |  | 147 |  | 80,903 |
Non-Performing Loans | — |  | 125 |  | 58 |  | — |  | — |  | 52 |  | — |  | — |  | 235 |
Land Development | $ | 12,656 |  | $ | 7,872 |  | $ | 4,988 |  | $ | 2,926 |  | $ | 3,759 |  | $ | 580 |  | $ | 2,854 |  | $ | 52 |  | $ | 35,687 |
Performing Loans | 12,656 |  | 7,872 |  | 4,988 |  | 2,922 |  | 3,759 |  | 466 |  | 2,854 |  | 52 |  | 35,569 |
Non-Performing Loans | — |  | — |  | — |  | 4 |  | — |  | 114 |  | — |  | — |  | 118 |
Installment loans to individuals | $ | 60,133 |  | $ | 57,198 |  | $ | 13,704 |  | $ | 4,019 |  | $ | 2,459 |  | $ | 1,535 |  | $ | 10,661 |  | $ | 59 |  | $ | 149,768 |
Performing Loans | 60,081 |  | 57,119 |  | 13,611 |  | 3,986 |  | 2,407 |  | 1,535 |  | 10,661 |  | 21 |  | 149,421 |
Non-Performing Loans | 52 |  | 79 |  | 93 |  | 33 |  | 52 |  | — |  | — |  | 38 |  | 347 |
Total loans not subject to risk rating | $ | 780,512 |  | $ | 524,963 |  | $ | 353,307 |  | $ | 258,589 |  | $ | 147,342 |  | $ | 238,801 |  | $ | 693,698 |  | $ | 4,546 |  | $ | 3,001,758 |
Performing Loans | 780,449 |  | 522,064 |  | 349,003 |  | 256,112 |  | 146,353 |  | 235,757 |  | 692,924 |  | 4,031 |  | 2,986,693 |
Non-Performing Loans | 63 |  | 2,899 |  | 4,304 |  | 2,477 |  | 989 |  | 3,044 |  | 774 |  | 515 |  | 15,065 |
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.
| 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 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 |
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, 2019 | $ | 25,916 |
New loans and advances | 3,337 |
Payments received | (1,926) |
Changes in related parties | 1 |
Loans at December 31, 2020 | $ | 27,328 |
No related party loans were classified as past due, nonaccrual, impaired or restructured at December 31, 2020 or 2019. Unfunded commitments to certain executive officers and directors and their associates totaled $19,911 and $7,266 at December 31, 2020 and 2019, respectively. 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 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 |
The average recorded investment in impaired loans for the year ended December 31, 2018 was $27,080. Interest income recognized on impaired loans for the year ended December 31, 2018 was $549. Purchased Loans (In Thousands, Except Number of Loans) For purposes of this Note 4, all references to “loans” mean purchased loans. The following is a summary of purchased loans at December 31:
| 2020 |  | 2019
Commercial, financial, agricultural | $ | 176,513 |  |  | $ | 315,619 |
Real estate – construction: |  |  |
Residential | 2,859 |  |  | 16,407 |
Commercial | 28,093 |  |  | 35,175 |
Total real estate – construction | 30,952 |  |  | 51,582 |
Real estate – 1-4 family mortgage: |  |  |
Primary | 214,770 |  |  | 332,729 |
Home equity | 80,392 |  |  | 117,275 |
Rental/investment | 31,928 |  |  | 43,169 |
Land development | 14,654 |  |  | 23,314 |
Total real estate – 1-4 family mortgage | 341,744 |  |  | 516,487 |
Real estate – commercial mortgage: |  |  |
Owner-occupied | 323,041 |  |  | 428,077 |
Non-owner occupied | 552,728 |  |  | 647,308 |
Land development | 29,454 |  |  | 40,004 |
Total real estate – commercial mortgage | 905,223 |  |  | 1,115,389 |
Installment loans to individuals | 59,675 |  |  | 102,587 |
Loans | $ | 1,514,107 |  |  | $ | 2,101,664 |
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, 2020 |  |  |  |  |  |  |  |
Commercial, financial, agricultural | $ | 818 |  | $ | 101 |  | $ | 163,658 |  | $ | 164,577 |  | $ | 74 |  | $ | 2,024 |  | $ | 9,838 |  | $ | 11,936 |  | $ | 176,513 |
Real estate – construction: |  |  |  |  |  |  |  |  |
Residential | — |  | — |  | 2,859 |  | 2,859 |  | — |  | — |  | — |  | — |  | 2,859 |
Commercial | — |  | — |  | 28,093 |  | 28,093 |  | — |  | — |  | — |  | — |  | 28,093 |
Total real estate – construction | — |  | — |  | 30,952 |  | 30,952 |  | — |  | — |  | — |  | — |  | 30,952 |
Real estate – 1-4 family mortgage: |  |  |  |  |  |  |  |  |
Primary | 2,394 |  | 74 |  | 206,635 |  | 209,103 |  | 687 |  | 2,799 |  | 2,181 |  | 5,667 |  | 214,770 |
Home equity | 294 |  | 43 |  | 78,739 |  | 79,076 |  | 4 |  | 674 |  | 638 |  | 1,316 |  | 80,392 |
Rental/investment | 180 |  | 14 |  | 30,931 |  | 31,125 |  | — |  | 724 |  | 79 |  | 803 |  | 31,928 |
Land development | 109 |  | — |  | 14,231 |  | 14,340 |  | — |  | — |  | 314 |  | 314 |  | 14,654 |
Total real estate – 1-4 family mortgage | 2,977 |  | 131 |  | 330,536 |  | 333,644 |  | 691 |  | 4,197 |  | 3,212 |  | 8,100 |  | 341,744 |
Real estate – commercial mortgage: |  |  |  |  |  |  |  |  |
Owner-occupied | 2,511 |  | — |  | 317,997 |  | 320,508 |  | 193 |  | 447 |  | 1,893 |  | 2,533 |  | 323,041 |
Non-owner occupied | 207 |  | — |  | 544,694 |  | 544,901 |  | 7,682 |  | — |  | 145 |  | 7,827 |  | 552,728 |
Land development | 112 |  | — |  | 28,962 |  | 29,074 |  | — |  | 164 |  | 216 |  | 380 |  | 29,454 |
Total real estate – commercial mortgage | 2,830 |  | — |  | 891,653 |  | 894,483 |  | 7,875 |  | 611 |  | 2,254 |  | 10,740 |  | 905,223 |
Installment loans to individuals | 2,026 |  | 35 |  | 57,339 |  | 59,400 |  | 31 |  | 136 |  | 108 |  | 275 |  | 59,675 |
Loans, net of unearned income | $ | 8,651 |  | $ | 267 |  | $ | 1,474,138 |  | $ | 1,483,056 |  | $ | 8,671 |  | $ | 6,968 |  | $ | 15,412 |  | $ | 31,051 |  | $ | 1,514,107 |
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 | $ | 14,887 |  | $ | 4,317 |  | $ | 2,075,422 |  | $ | 2,094,626 |  | $ | 606 |  | $ | 4,182 |  | $ | 2,250 |  | $ | 7,038 |  | $ | 2,101,664 |
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 was one restructured loan totaling $74 that was contractually 90 days past due or more and still accruing at December 31, 2020. There were two restructured loans totaling $106 that were contractually 90 days past due or more and still accruing at December 31, 2019. The outstanding balance of restructured loans on nonaccrual status was $12,788 and $1,667 at December 31, 2020 and 2019, respectively. Restructured Loans At December 31, 2020, 2019 and 2018, there were $8,687, $7,275 and $7,495, 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, 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 |
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 |
During the years ended December 31, 2020, 2019 and 2018, the Company had $74, $101 and $5, 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, 2019 | 54 |  |  | $ | 7,495 |
Additional advances or loans with concessions | 5 |  |  | 3,168 |
Reclassified as performing | 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 |
Additional advances or loans with concessions | 13 |  |  | 5,378 |
Reclassified as performing | 1 |  |  | 74 |
Reductions due to: |  |  |
Reclassified as nonperforming | (14) |  |  | (2,563) |
Paid in full | (5) |  |  | (978) |
Charge-offs | (1) |  |  | (3) |
Principal paydowns | — |  |  | (496) |
Totals at December 31, 2020 | 48 |  |  | $ | 8,687 |
The allocated allowance for credit losses attributable to restructured loans was $612 and $17 at December 31, 2020 and 2019, respectively. The Company had $370 and $6 in remaining availability under commitments to lend additional funds on these restructured loans at December 31, 2020 and 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 December 31, 2020, the Company had 284 loans with total balances of approximately $33,000 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
December 31, 2020 |  |  |  |  |  |  |  |  |
Commercial, Financial, Agricultural | $ | — |  | $ | 711 |  | $ | 28,242 |  | $ | 27,222 |  | $ | 22,377 |  | $ | 20,759 |  | $ | 64,563 |  | $ | 1,788 |  | $ | 165,662 |
Pass | — |  | 711 |  | 24,211 |  | 20,930 |  | 17,240 |  | 16,880 |  | 56,736 |  | 409 |  | 137,117 |
Special Mention | — |  | — |  | 357 |  | 97 |  | 104 |  | — |  | — |  | — |  | 558 |
Substandard | — |  | — |  | 3,674 |  | 6,195 |  | 5,033 |  | 3,879 |  | 7,827 |  | 1,379 |  | 27,987 |
Real Estate - Construction | $ | — |  | $ | — |  | $ | 10,522 |  | $ | 9,228 |  | $ | 10,781 |  | $ | — |  | $ | — |  | $ | — |  | $ | 30,531 |
Residential | $ | — |  | $ | — |  | $ | 1,543 |  | $ | 211 |  | $ | 684 |  | $ | — |  | $ | — |  | $ | — |  | $ | 2,438 |
Pass | — |  | — |  | 1,543 |  | 211 |  | 684 |  | — |  | — |  | — |  | 2,438 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans | Revolving Loans Converted to Term | Total Loans
Commercial | $ | — |  | $ | — |  | $ | 8,979 |  | $ | 9,017 |  | $ | 10,097 |  | $ | — |  | $ | — |  | $ | — |  | $ | 28,093 |
Pass | — |  | — |  | 8,979 |  | 9,017 |  | 10,097 |  | — |  | — |  | — |  | 28,093 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Real Estate - 1-4 Family Mortgage | $ | — |  | $ | — |  | $ | 14,022 |  | $ | 7,126 |  | $ | 1,112 |  | $ | 38,747 |  | $ | 957 |  | $ | 253 |  | $ | 62,217 |
Primary | $ | — |  | $ | — |  | $ | 6,873 |  | $ | 3,212 |  | $ | 595 |  | $ | 17,223 |  | $ | 249 |  | $ | — |  | $ | 28,152 |
Pass | — |  | — |  | 5,556 |  | 3,212 |  | 594 |  | 12,665 |  | 249 |  | — |  | 22,276 |
Special Mention | — |  | — |  | — |  | — |  | — |  | 1,120 |  | — |  | — |  | 1,120 |
Substandard | — |  | — |  | 1,317 |  | — |  | 1 |  | 3,438 |  | — |  | — |  | 4,756 |
Home Equity | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 697 |  | $ | 253 |  | $ | 950 |
Pass | — |  | — |  | — |  | — |  | — |  | — |  | 59 |  | — |  | 59 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | 638 |  | 253 |  | 891 |
Rental/Investment | $ | — |  | $ | — |  | $ | — |  | $ | 1,883 |  | $ | 232 |  | $ | 18,275 |  | $ | 9 |  | $ | — |  | $ | 20,399 |
Pass | — |  | — |  | — |  | 1,883 |  | 232 |  | 16,139 |  | 9 |  | — |  | 18,263 |
Special Mention | — |  | — |  | — |  | — |  | — |  | 44 |  | — |  | — |  | 44 |
Substandard | — |  | — |  | — |  | — |  | — |  | 2,092 |  | — |  | — |  | 2,092 |
Land Development | $ | — |  | $ | — |  | $ | 7,149 |  | $ | 2,031 |  | $ | 285 |  | $ | 3,249 |  | $ | 2 |  | $ | — |  | $ | 12,716 |
Pass | — |  | — |  | 7,149 |  | 2,009 |  | 285 |  | 1,793 |  | 2 |  | — |  | 11,238 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | 22 |  | — |  | 1,456 |  | — |  | — |  | 1,478 |
Real Estate - Commercial Mortgage | $ | — |  | $ | — |  | $ | 76,557 |  | $ | 153,960 |  | $ | 171,487 |  | $ | 435,073 |  | $ | 22,631 |  | $ | 4,688 |  | $ | 864,396 |
Owner-Occupied | $ | — |  | $ | — |  | $ | 15,001 |  | $ | 32,567 |  | $ | 61,568 |  | $ | 181,007 |  | $ | 9,723 |  | $ | 2 |  | $ | 299,868 |
Pass | — |  | — |  | 15,001 |  | 29,276 |  | 43,962 |  | 161,790 |  | 5,808 |  | — |  | 255,837 |
Special Mention | — |  | — |  | — |  | — |  | 9,670 |  | — |  | — |  | — |  | 9,670 |
Substandard | — |  | — |  | — |  | 3,291 |  | 7,936 |  | 19,217 |  | 3,915 |  | 2 |  | 34,361 |
Non-Owner Occupied | $ | — |  | $ | — |  | $ | 55,962 |  | $ | 117,592 |  | $ | 107,004 |  | $ | 242,249 |  | $ | 12,720 |  | $ | 4,686 |  | $ | 540,213 |
Pass | — |  | — |  | 37,002 |  | 109,910 |  | 83,738 |  | 221,423 |  | 6,431 |  | — |  | 458,504 |
Special Mention | — |  | — |  | 2,591 |  | — |  | 5,302 |  | 2,622 |  | — |  | — |  | 10,515 |
Substandard | — |  | — |  | 16,369 |  | 7,682 |  | 17,964 |  | 18,204 |  | 6,289 |  | 4,686 |  | 71,194 |
Land Development | $ | — |  | $ | — |  | $ | 5,594 |  | $ | 3,801 |  | $ | 2,915 |  | $ | 11,817 |  | $ | 188 |  | $ | — |  | $ | 24,315 |
Pass | — |  | — |  | 5,594 |  | 3,801 |  | 2,780 |  | 4,962 |  | 188 |  | — |  | 17,325 |
Special Mention | — |  | — |  | — |  | — |  | — |  | 5,438 |  | — |  | — |  | 5,438 |
Substandard | — |  | — |  | — |  | — |  | 135 |  | 1,417 |  | — |  | — |  | 1,552 |
Installment loans to individuals | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Pass | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total loans subject to risk rating | $ | — |  | $ | 711 |  | $ | 129,343 |  | $ | 197,536 |  | $ | 205,757 |  | $ | 494,579 |  | $ | 88,151 |  | $ | 6,729 |  | $ | 1,122,806 |
Pass | — |  | 711 |  | 105,035 |  | 180,249 |  | 159,612 |  | 435,652 |  | 69,482 |  | 409 |  | 951,150 |
Special Mention | — |  | — |  | 2,948 |  | 97 |  | 15,076 |  | 9,224 |  | — |  | — |  | 27,345 |
Substandard | — |  | — |  | 21,360 |  | 17,190 |  | 31,069 |  | 49,703 |  | 18,669 |  | 6,320 |  | 144,311 |
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
December 31, 2020 |  |  |  |  |  |  |  |  |
Commercial, Financial, Agricultural | $ | — |  | $ | — |  | $ | 445 |  | $ | 349 |  | $ | 303 |  | $ | 2,899 |  | $ | 6,809 |  | $ | 46 |  | $ | 10,851 |
Performing Loans | — |  | — |  | 445 |  | 349 |  | 303 |  | 2,899 |  | 6,784 |  | 46 |  | 10,826 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | — |  | 25 |  | — |  | 25 |
Real Estate - Construction | $ | — |  | $ | — |  | $ | 421 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 421 |
Residential | $ | — |  | $ | — |  | $ | 421 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 421 |
Performing Loans | — |  | — |  | 421 |  | — |  | — |  | — |  | — |  | — |  | 421 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Commercial | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Performing Loans | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Real Estate - 1-4 Family Mortgage | $ | — |  | $ | 371 |  | $ | 3,082 |  | $ | 33,674 |  | $ | 28,169 |  | $ | 140,689 |  | $ | 70,870 |  | $ | 2,672 |  | $ | 279,527 |
Primary | $ | — |  | $ | 248 |  | $ | 1,953 |  | $ | 30,078 |  | $ | 25,956 |  | $ | 127,642 |  | $ | 630 |  | $ | 111 |  | $ | 186,618 |
Performing Loans | — |  | 248 |  | 1,842 |  | 29,321 |  | 25,935 |  | 122,970 |  | 630 |  | 25 |  | 180,971 |
Non-Performing Loans | — |  | — |  | 111 |  | 757 |  | 21 |  | 4,672 |  | — |  | 86 |  | 5,647 |
Home Equity | $ | — |  | $ | — |  | $ | 742 |  | $ | 3,324 |  | $ | 1,668 |  | $ | 1,027 |  | $ | 70,120 |  | $ | 2,561 |  | $ | 79,442 |
Performing Loans | — |  | — |  | 742 |  | 3,324 |  | 1,668 |  | 960 |  | 69,518 |  | 2,124 |  | 78,336 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | 67 |  | 602 |  | 437 |  | 1,106 |
Rental/Investment | $ | — |  | $ | 123 |  | $ | — |  | $ | 200 |  | $ | 193 |  | $ | 10,893 |  | $ | 120 |  | $ | — |  | $ | 11,529 |
Performing Loans | — |  | 123 |  | — |  | 200 |  | 193 |  | 10,800 |  | 120 |  | — |  | 11,436 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | 93 |  | — |  | — |  | 93 |
Land Development | $ | — |  | $ | — |  | $ | 387 |  | $ | 72 |  | $ | 352 |  | $ | 1,127 |  | $ | — |  | $ | — |  | $ | 1,938 |
Performing Loans | — |  | — |  | 387 |  | 30 |  | 117 |  | 1,127 |  | — |  | — |  | 1,661 |
Non-Performing Loans | — |  | — |  | — |  | 42 |  | 235 |  | — |  | — |  | — |  | 277 |
Real Estate - Commercial Mortgage | $ | — |  | $ | 337 |  | $ | 597 |  | $ | 1,063 |  | $ | 982 |  | $ | 35,946 |  | $ | 1,902 |  | $ | — |  | $ | 40,827 |
Owner-Occupied | $ | — |  | $ | — |  | $ | — |  | $ | 625 |  | $ | 660 |  | $ | 20,531 |  | $ | 1,357 |  | $ | — |  | $ | 23,173 |
Performing Loans | — |  | — |  | — |  | 625 |  | 660 |  | 20,253 |  | 1,357 |  | — |  | 22,895 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | 278 |  | — |  | — |  | 278 |
Non-Owner Occupied | $ | — |  | $ | 337 |  | $ | 443 |  | $ | 49 |  | $ | 66 |  | $ | 11,467 |  | $ | 153 |  | $ | — |  | $ | 12,515 |
Performing Loans | — |  | 337 |  | 443 |  | 49 |  | 66 |  | 11,331 |  | 153 |  | — |  | 12,379 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | 136 |  | — |  | — |  | 136 |
Land Development | $ | — |  | $ | — |  | $ | 154 |  | $ | 389 |  | $ | 256 |  | $ | 3,948 |  | $ | 392 |  | $ | — |  | $ | 5,139 |
Performing Loans | — |  | — |  | 154 |  | 389 |  | 256 |  | 3,890 |  | 392 |  | — |  | 5,081 |
Non-Performing Loans | — |  | — |  | — |  | — |  | — |  | 58 |  | — |  | — |  | 58 |
Installment loans to individuals | $ | — |  | $ | — |  | $ | 34,976 |  | $ | 15,497 |  | $ | 1,118 |  | $ | 4,348 |  | $ | 3,676 |  | $ | 60 |  | $ | 59,675 |
Performing Loans | — |  | — |  | 34,942 |  | 15,405 |  | 1,051 |  | 4,262 |  | 3,676 |  | 29 |  | 59,365 |
Non-Performing Loans | — |  | — |  | 34 |  | 92 |  | 67 |  | 86 |  | — |  | 31 |  | 310 |
Total loans not subject to risk rating | $ | — |  | $ | 708 |  | $ | 39,521 |  | $ | 50,583 |  | $ | 30,572 |  | $ | 183,882 |  | $ | 83,257 |  | $ | 2,778 |  | $ | 391,301 |
Performing Loans | — |  | 708 |  | 39,376 |  | 49,692 |  | 30,249 |  | 178,492 |  | 82,630 |  | 2,224 |  | 383,371 |
Non-Performing Loans | — |  | — |  | 145 |  | 891 |  | 323 |  | 5,390 |  | 627 |  | 554 |  | 7,930 |
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. 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 |
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 |
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 |
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 |
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 |  |  | $ | — |
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 |
The average recorded investment in non credit deteriorated loans that were subsequently impaired for the year ended December 31, 2018 was $9,396. Interest income recognized on non credit deteriorated loans that were subsequently impaired for the year ended December 31, 2018 was $194. 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 |
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 |
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 |
The average recorded investment in credit-deteriorated loans for the year ended December 31, 2018 was $212,967. Interest income recognized on credit-deteriorated loans for the year ended December 31, 2018 was $10,084. 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 |
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 |
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 |
(1)Represents contractual principal cash flows of $44,115 and interest cash flows of $6,972 not expected to be collected. (2)Represents contractual principal cash flows of $1,615 and interest cash flows of $22,417 expected to be collected.

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