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Allowance For Loan Losses | 12 Months Ended
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Dec. 31, 2011
Allowance For Loan Losses [Abstract] |
Allowance For Loan Losses | 6. Allowance for Loan Losses The allowance for loan losses is that amount management believes is adequate to absorb probable incurred credit losses in the loan portfolio based on management's evaluation of various factors including overall growth in the loan portfolio, an analysis of individual loans, prior and current loss experience, and current economic conditions. A provision for loan losses is charged to operations based on management's periodic evaluation of these and other pertinent factors as discussed within Note 1 of these Notes to Consolidated Financial Statements . The activity in the allowance for loan losses for the 12 months ended December 31, 2011, December 31, 2010,. And December 31, 2009 is summarized in the following tables.
|  | Year ended December 31, 2011 |
|  | Commercial, financial and agricultural |  |  | Commercial real estate |  |  | Construction real estate |  |  | Residential real estate |  |  | Consumer |  |  | Leases |  |  | Total |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 11,555 |  |  | $ | 24,369 |  |  | $ | 70,462 |  |  | $ | 30,259 |  |  | $ | 6,925 |  |  | $ | 5 |  |  | $ | 143,575 |
Transfer of loans at fair value |  |  | 2 |  |  |  | 150 |  |  |  | 63 |  |  |  | 4 |  |  |  | - |  |  |  | - |  |  |  | 219 |
Transfer of allowance to held for sale (1) |  |  | 1,184 |  |  |  | 4,327 |  |  |  | 1,998 |  |  |  | 5,450 |  |  |  | 141 |  |  |  | - |  |  |  | 13,100 |
Charge-offs |  |  | 18,350 |  |  |  | 23,063 |  |  |  | 64,166 |  |  |  | 20,691 |  |  |  | 7,612 |  |  |  | - |  |  |  | 133,882 |
Recoveries |  |  | 1,402 |  |  |  | 1,825 |  |  |  | 1,463 |  |  |  | 1,719 |  |  |  | 2,385 |  |  |  | 4 |  |  |  | 8,798 |
Net Charge-offs |  |  | 16,948 |  |  |  | 21,238 |  |  |  | 62,703 |  |  |  | 18,972 |  |  |  | 5,227 |  |  |  | (4 | ) |  |  | 125,084 |
Provision |  |  | 23,529 |  |  |  | 16,885 |  |  |  | 8,735 |  |  |  | 9,859 |  |  |  | 4,273 |  |  |  | (9 | ) |  |  | 63,272 |
Ending balance |  | $ | 16,950 |  |  | $ | 15,539 |  |  | $ | 14,433 |  |  | $ | 15,692 |  |  | $ | 5,830 |  |  | $ | - |  |  | $ | 68,444 |
| (1) | Transfer of allowance to held for sale was allocated on a pro-rata basis based on the outstanding balance of the loans held for sale.
(In thousands) |  | 2010 |  |  | 2009 |
Average loans |  | $ | 4,642,478 |  |  | $ | 4,594,436 |
Allowance for loan losses: |  |  |  |  |  |  |  |
Beginning balance |  | $ | 116,717 |  |  | $ | 100,088 |
Charge-offs: |  |  |  |  |  |  |  |
Commercial, financial and agricultural |  |  | 8,484 |  |  |  | 10,047 |
Commercial real estate |  |  | 7,748 |  |  |  | 5,662 |
Construction real estate |  |  | 23,308 |  |  |  | 21,956 |
Residential real estate |  |  | 18,401 |  |  |  | 11,765 |
Consumer |  |  | 8,373 |  |  |  | 9,583 |
Lease financing |  |  | - |  |  |  | 9 |
Total charge-offs |  |  | 66,314 |  |  |  | 59,022 |
Recoveries: |  |  |  |  |  |  |  |
Commercial, financial and agricultural |  |  | 1,237 |  |  |  | 1,010 |
Commercial real estate |  |  | 850 |  |  |  | 771 |
Construction real estate |  |  | 813 |  |  |  | 1,322 |
Residential real estate |  |  | 1,429 |  |  |  | 1,723 |
Consumer |  |  | 1,763 |  |  |  | 2,001 |
Lease financing |  |  | - |  |  |  | 3 |
Total recoveries |  |  | 6,092 |  |  |  | 6,830 |
Net charge-offs |  |  | 60,222 |  |  |  | 52,192 |
Provision for loan losses |  |  | 87,080 |  |  |  | 68,821 |
Ending balance |  | $ | 143,575 |  |  | $ | 116,717 |
Ratio of net charge-offs to average loans |  |  | 1.30 | % |  |  | 1.14 | %
Ratio of allowance for loan losses to end of period loans |  |  | 3.03 | % |  |  | 2.52 | %
The composition of the allowance for loan losses at December 31, 2011 and December 31, 2010 was as follows:
|  | December 31, 2011 |
(In thousands) |  | Commercial, financial and agricultural |  |  | Commercial real estate |  |  | Construction real estate |  |  | Residential real estate |  |  | Consumer |  |  | Leases |  |  | Total |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending allowance balance attributed to loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 5,819 |  |  | $ | 4,431 |  |  | $ | 3,414 |  |  | $ | 2,271 |  |  | $ | - |  |  | $ | - |  |  | $ | 15,935 |
Collectively evaluated for impairment |  |  | 11,131 |  |  |  | 11,108 |  |  |  | 11,019 |  |  |  | 13,421 |  |  |  | 5,830 |  |  |  | - |  |  |  | 52,509 |
Total ending allowance balance |  | $ | 16,950 |  |  | $ | 15,539 |  |  | $ | 14,433 |  |  | $ | 15,692 |  |  | $ | 5,830 |  |  | $ | - |  |  | $ | 68,444 |
Loan Balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | $ | 40,621 |  |  | $ | 51,978 |  |  | $ | 50,240 |  |  | $ | 44,276 |  |  | $ | 20 |  |  | $ | - |  |  | $ | 187,135 |
Loans collectively evaluated for impairment |  |  | 703,176 |  |  |  | 1,056,596 |  |  |  | 167,306 |  |  |  | 1,584,342 |  |  |  | 616,485 |  |  |  | 2,059 |  |  |  | 4,129,964 |
Total ending loan balance |  | $ | 743,797 |  |  | $ | 1,108,574 |  |  | $ | 217,546 |  |  | $ | 1,628,618 |  |  | $ | 616,505 |  |  | $ | 2,059 |  |  | $ | 4,317,099 |
Allowance for loan losses as a percentage of loan balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  |  | 14.33 | % |  |  | 8.52 | % |  |  | 6.80 | % |  |  | 5.13 | % |  |  | - | % |  |  | - | % |  |  | 8.52 | %
Loans collectively evaluated for impairment |  |  | 1.58 | % |  |  | 1.05 | % |  |  | 6.59 | % |  |  | 0.85 | % |  |  | 0.95 | % |  |  | - | % |  |  | 1.27 | %
Total ending loan balance |  |  | 2.28 | % |  |  | 1.40 | % |  |  | 6.63 | % |  |  | 0.96 | % |  |  | 0.95 | % |  |  | - | % |  |  | 1.59 | %
Recorded Investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | $ | 40,621 |  |  | $ | 51,978 |  |  | $ | 50,240 |  |  | $ | 44,276 |  |  | $ | 20 |  |  | $ | - |  |  | $ | 187,135 |
Loans collectively evaluated for impairment |  |  | 706,297 |  |  |  | 1,060,831 |  |  |  | 167,856 |  |  |  | 1,588,147 |  |  |  | 619,415 |  |  |  | 2,102 |  |  |  | 4,144,648 |
Total ending loan balance |  | $ | 746,918 |  |  | $ | 1,112,809 |  |  | $ | 218,096 |  |  | $ | 1,632,423 |  |  | $ | 619,435 |  |  | $ | 2,102 |  |  | $ | 4,331,783 |
|  | December 31, 2010 |
(In thousands) |  | Commercial, financial and agricultural |  |  | Commercial real estate |  |  | Construction real estate |  |  | Residential real estate |  |  | Consumer |  |  | Leases |  |  | Total |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending allowance balance attributed to loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 3,028 |  |  | $ | 12,652 |  |  | $ | 45,312 |  |  | $ | 5,912 |  |  | $ | - |  |  | $ | - |  |  | $ | 66,904 |
Collectively evaluated for impairment |  |  | 8,527 |  |  |  | 11,717 |  |  |  | 25,150 |  |  |  | 24,347 |  |  |  | 6,925 |  |  |  | 5 |  |  |  | 76,671 |
Total ending allowance balance |  | $ | 11,555 |  |  | $ | 24,369 |  |  | $ | 70,462 |  |  | $ | 30,259 |  |  | $ | 6,925 |  |  | $ | 5 |  |  | $ | 143,575 |
Loan Balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | $ | 19,205 |  |  | $ | 57,930 |  |  | $ | 113,571 |  |  | $ | 60,227 |  |  | $ | - |  |  | $ | - |  |  | $ | 250,933 |
Loans collectively evaluated for impairment |  |  | 718,697 |  |  |  | 1,168,686 |  |  |  | 292,909 |  |  |  | 1,631,982 |  |  |  | 666,871 |  |  |  | 2,607 |  |  |  | 4,481,752 |
Total ending loan balance |  | $ | 737,902 |  |  | $ | 1,226,616 |  |  | $ | 406,480 |  |  | $ | 1,692,209 |  |  | $ | 666,871 |  |  | $ | 2,607 |  |  | $ | 4,732,685 |
Allowance for loan losses as a percentage of loan balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  |  | 15.77 | % |  |  | 21.84 | % |  |  | 39.90 | % |  |  | 9.82 | % |  |  | - |  |  |  | - |  |  |  | 26.66 | %
Loans collectively evaluated for impairment |  |  | 1.19 | % |  |  | 1.00 | % |  |  | 8.59 | % |  |  | 1.49 | % |  |  | 1.04 | % |  |  | 0.19 | % |  |  | 1.71 | %
Total ending loan balance |  |  | 1.57 | % |  |  | 1.99 | % |  |  | 17.33 | % |  |  | 1.79 | % |  |  | 1.04 | % |  |  | 0.19 | % |  |  | 3.03 | %
Recorded Investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | $ | 19,205 |  |  | $ | 57,930 |  |  | $ | 113,571 |  |  | $ | 60,227 |  |  | $ | - |  |  | $ | - |  |  | $ | 250,933 |
Loans collectively evaluated for impairment |  |  | 721,583 |  |  |  | 1,173,490 |  |  |  | 293,962 |  |  |  | 1,637,443 |  |  |  | 670,116 |  |  |  | 2,663 |  |  |  | 4,499,257 |
Total ending loan balance |  | $ | 740,788 |  |  | $ | 1,231,420 |  |  | $ | 407,533 |  |  | $ | 1,697,670 |  |  | $ | 670,116 |  |  | $ | 2,663 |  |  | $ | 4,750,190 |
Loans collectively evaluated for impairment above include all performing loans at December 31, 2011 and 2010, as well as nonperforming loans internally classified as consumer loans. Nonperforming consumer loans are not typically evaluated for impairment, but receive a portion of the statistical allocation of the allowance for loan losses. Loans individually evaluated for impairment above include all impaired loans internally classified as commercial loans at December 31, 2011 and 2010, which are evaluated for impairment in accordance with GAAP (see Note 1 of these Notes to Consolidated Financial Statements).

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- Definition The entire disclosure for allowance for credit losses. + References No definition available. + Details
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