Loans and Asset Quality Information (Tables)

12 Months Ended

Dec. 31, 2014

Loans and Asset Quality Information [Abstract]

Summary of the major categories of total loans outstanding

The following is a summary of the major categories of total loans outstanding:

($ in thousands)	December 31, 2014					December 31, 2013
	Amount		Percentage			Amount		Percentage
All loans (non-covered and covered):

Commercial, financial, and agricultural	$	160,878		7	%	$	168,469		7	%
Real estate – construction, land development & other land loans		288,148		12	%		305,246		12	%
Real estate – mortgage – residential (1-4 family) first mortgages		789,871		33	%		838,862		34	%
Real estate – mortgage – home equity loans / lines of credit		223,500		9	%		227,907		9	%
Real estate – mortgage – commercial and other		882,127		37	%		855,249		35	%
Installment loans to individuals		50,704		2	%		66,533		3	%
Subtotal		2,395,228		100	%		2,462,266		100	%
Unamortized net deferred loan costs		946					928
Total loans	$	2,396,174				$	2,463,194

Summary of the major categories of non-covered loans outstanding

The following is a summary of the major categories of non-covered loans outstanding:

($ in thousands)	December 31, 2014					December 31, 2013
	Amount		Percentage			Amount		Percentage
Non-covered loans:

Commercial, financial, and agricultural	$	159,195		7	%	$	164,195		7	%
Real estate – construction, land development & other land loans		282,604		13	%		273,412		12	%
Real estate – mortgage – residential (1-4 family) first mortgages		700,101		31	%		730,712		32	%
Real estate – mortgage – home equity loans / lines of credit		210,697		9	%		213,016		10	%
Real estate – mortgage – commercial and other		864,333		38	%		804,621		36	%
Installment loans to individuals		50,704		2	%		66,001		3	%
Subtotal		2,267,634		100	%		2,251,957		100	%
Unamortized net deferred loan costs		946					928
Total non-covered loans	$	2,268,580				$	2,252,885

Schedule of the carrying amount of the covered loans

The carrying amount of the covered loans at December 31, 2014 consisted of impaired and nonimpaired purchased loans (as determined on the date of acquisition), as follows:

($ in thousands)	Impaired Purchased Loans - Carrying Value		Impaired Purchased Loans – Unpaid Principal Balance		Nonimpaired Purchased Loans – Carrying Value		Nonimpaired Purchased Loans - Unpaid Principal Balance		Total Covered Loans – Carrying Value		Total Covered Loans – Unpaid Principal Balance
Covered loans:
Commercial, financial, and agricultural	$	66		123		1,617		1,661		1,683		1,784
Real estate – construction, land development & other land loans		309		534		5,235		6,471		5,544		7,005
Real estate – mortgage – residential (1-4 family) first mortgages		362		1,298		89,408		104,678		89,770		105,976
Real estate – mortgage – home equity loans / lines of credit		12		19		12,791		15,099		12,803		15,118
Real estate – mortgage – commercial and other		1,201		3,209		16,593		17,789		17,794		20,998
Total	$	1,950		5,183		125,644		145,698		127,594		150,881

The carrying amount of the covered loans at December 31, 2013 consisted of impaired and nonimpaired purchased loans (as determined on the date of acquisition), as follows:

($ in thousands)	Impaired Purchased Loans - Carrying Value		Impaired Purchased Loans – Unpaid Principal Balance		Nonimpaired Purchased Loans – Carrying Value		Nonimpaired Purchased Loans - Unpaid Principal Balance		Total Covered Loans – Carrying Value		Total Covered Loans – Unpaid Principal Balance
Covered loans:
Commercial, financial, and agricultural	$	75		136		4,199		5,268		4,274		5,404
Real estate – construction, land development & other land loans		325		564		31,509		47,792		31,834		48,356
Real estate – mortgage – residential (1-4 family) first mortgages		575		1,500		107,575		126,882		108,150		128,382
Real estate – mortgage – home equity loans / lines of credit		14		21		14,877		18,318		14,891		18,339
Real estate – mortgage – commercial and other		2,153		4,042		48,475		62,630		50,628		66,672
Installment loans to individuals						532		607		532		607
Total	$	3,142		6,263		207,167		261,497		210,309		267,760

Schedule of covered purchased nonimpaired loans

The following table presents information regarding covered purchased nonimpaired loans since December 31, 2012. The amounts include principal only and do not reflect accrued interest as of the date of the acquisition or beyond.

($ in thousands)
Carrying amount of nonimpaired covered loans at December 31, 2012	$	277,489
Principal repayments		(63,588	)
Transfers to foreclosed real estate		(13,977	)
Loan charge-offs		(12,957	)
Accretion of loan discount		20,200
Carrying amount of nonimpaired covered loans at December 31, 2013		207,167
Principal repayments		(50,183	)
Transfers to foreclosed real estate		(5,061	)
Transfers to non-covered loans due to expiration of loss-share agreement		(38,987	)
Loan charge-offs		(3,301	)
Accretion of loan discount		16,009
Carrying amount of nonimpaired covered loans at December 31, 2014	$	125,644

Schedule of activity in purchased impaired loans

($ in thousands) Purchased Impaired Loans	Contractual Principal Receivable			Fair Market Value Adjustment – Write Down (Nonaccretable Difference)			Carrying Amount
Balance at December 31, 2012	$	8,815			3,990			4,825
Change due to payments received		(301	)		(31	)		(270	)
Transfer to foreclosed real estate		(2,100	)		(784	)		(1,316	)
Change due to loan charge-off		(150	)		(54	)		(96	)
Other		(1	)		-			(1	)
Balance at December 31, 2013	$	6,263			3,121			3,142
Change due to payments received		(599	)		227			(826	)
Change due to loan charge-off		(2	)		29			(31	)
Other		197			(115	)		312
Balance at December 31, 2014	$	5,859			3,262			2,597

The Company has applied the cost recovery method to all purchased impaired loans at their respective acquisition dates due to the uncertainty as to the timing of expected cash flows, as reflected in the following table.

Summary of nonperforming assets

Nonperforming assets are summarized as follows:

ASSET QUALITY DATA ($ in thousands)	December 31, 2014		December 31, 2013

Non-covered nonperforming assets (1)
Nonaccrual loans	$	50,066	$	41,938
Restructured loans – accruing		35,493		27,776
Accruing loans > 90 days past due		-		-
Total non-covered nonperforming loans		85,559		69,714
Foreclosed real estate		9,771		12,251
Total non-covered nonperforming assets	$	95,330	$	81,965

Covered nonperforming assets (1)
Nonaccrual loans (2)	$	10,508	$	37,217
Restructured loans – accruing		5,823		8,909
Accruing loans > 90 days past due		-		-
Total covered nonperforming loans		16,331		46,126
Foreclosed real estate		2,350		24,497
Total covered nonperforming assets	$	18,681	$	70,623

Total nonperforming assets	$	114,011	$	152,588

_________________________________________________________________________________________________________

(1)	On July 1, 2014, approximately $9.7 million of nonaccrual loans, $2.1 million accruing restructured loans and $3.0 million of foreclosed real estate were transferred from covered to noncovered status upon a scheduled expiration of a FDIC loss-share agreement.
(2)	At December 31, 2014 and December 31, 2013, the contractual balance of the nonaccrual loans covered by FDIC loss share agreements was $16.0 million and $60.4 million, respectively.

Schedule of nonaccrual loans

The following table presents the Company's nonaccrual loans as of December 31, 2014.

($ in thousands)	Non-covered		Covered		Total
Commercial, financial, and agricultural:
Commercial – unsecured	$	187		1		188
Commercial – secured		2,927		-		2,927
Secured by inventory and accounts receivable		454		103		557

Real estate – construction, land development & other land loans		7,891		1,140		9,031

Real estate – residential, farmland and multi-family		24,459		7,785		32,244

Real estate – home equity lines of credit		2,573		278		2,851

Real estate – commercial		11,070		1,201		12,271

Consumer		505		-		505
Total	$	50,066		10,508		60,574

The following table presents the Company's nonaccrual loans as of December 31, 2013.

($ in thousands)	Non-covered		Covered		Total
Commercial, financial, and agricultural:
Commercial – unsecured	$	222		38		260
Commercial – secured		2,662		114		2,776
Secured by inventory and accounts receivable		545		782		1,327

Real estate – construction, land development & other land loans		8,055		13,502		21,557

Real estate – residential, farmland and multi-family		17,814		12,344		30,158

Real estate – home equity lines of credit		2,200		335		2,535

Real estate – commercial		10,115		10,099		20,214

Consumer		325		3		328
Total	$	41,938		37,217		79,155

Schedule of analysis of the payment status of loans

The following table presents an analysis of the payment status of the Company's loans as of December 31, 2014.

($ in thousands)	30-59 Days Past Due		60-89 Days Past Due		Nonaccrual Loans		Current		Total Loans Receivable
Non-covered loans
Commercial, financial, and agricultural:
Commercial - unsecured	$	191		35		187		36,871		37,284
Commercial - secured		1,003		373		2,927		102,671		106,974
Secured by inventory and accounts receivable		30		225		454		21,761		22,470

Real estate – construction, land development & other land loans		1,950		139		7,891		247,535		257,515

Real estate – residential, farmland, and multi-family		11,272		3,218		24,459		807,884		846,833

Real estate – home equity lines of credit		1,585		352		2,573		194,067		198,577

Real estate - commercial		3,738		996		11,070		738,981		754,785

Consumer		695		131		505		41,865		43,196
Total non-covered	$	20,464		5,469		50,066		2,191,635		2,267,634
Unamortized net deferred loan costs										946
Total non-covered loans									$	2,268,580

Covered loans	$	4,385		964		10,508		111,737		127,594

Total loans	$	24,849		6,433		60,574		2,303,372		2,396,174

The Company had no non-covered or covered loans that were past due greater than 90 days and accruing interest at December 31, 2014.

The following table presents an analysis of the payment status of the Company's loans as of December 31, 2013.

($ in thousands)	30-59 Days Past Due		60-89 Days Past Due		Nonaccrual Loans		Current		Total Loans Receivable
Non-covered loans
Commercial, financial, and agricultural:
Commercial - unsecured	$	347		94		222		36,352		37,015
Commercial - secured		1,233		462		2,662		117,923		122,280
Secured by inventory and accounts receivable		438		767		545		19,426		21,176

Real estate – construction, land development & other land loans		2,304		1,391		8,055		232,920		244,670

Real estate – residential, farmland, and multi-family		11,682		2,631		17,814		837,260		869,387

Real estate – home equity lines of credit		1,465		305		2,200		194,157		198,127

Real estate - commercial		3,196		214		10,115		696,081		709,606

Consumer		494		187		325		48,690		49,696
Total non-covered	$	21,159		6,051		41,938		2,182,809		2,251,957
Unamortized net deferred loan costs										928
Total non-covered loans									$	2,252,885

Covered loans	$	5,179		768		37,217		167,145		210,309

Total loans	$	26,338		6,819		79,155		2,349,954		2,463,194

Schedule of activity in the allowance for loan losses for non-covered loans

The following table presents the activity in the allowance for loan losses for non-covered loans for the year ended December 31, 2014.

($ in thousands)	Commercial, Financial, and Agricultural			Real Estate - Construction, Land Development, & Other Land Loans			Real Estate – Residential, Farmland, and Multi- family			Real Estate – Home Equity Lines of Credit			Real Estate – Commercial and Other			Consumer			Unallo- cated			Total

As of and for the year ended December 31, 2014

Beginning balance	$	7,432			12,966			15,142			1,838			5,524			1,513			(152	)		44,263
Charge-offs		(4,039	)		(2,148	)		(4,417	)		(912	)		(3,048	)		(1,724	)		−			(16,288	)
Recoveries		140			398			331			45			181			451			−			1,546
Transfer from covered category		36			813			51			−			833			4			−			1,737
Provisions		4,822			(5,559	)		(1,387	)		2,760			5,555			597			299			7,087
Ending balance	$	8,391			6,470			9,720			3,731			9,045			841			147			38,345

Ending balances as of December 31, 2014: Allowance for loan losses

Individually evaluated for impairment	$	211			415			1,686			−			165			−			−			2,477

Collectively evaluated for impairment	$	8,180			6,055			8,034			3,731			8,880			841			147			35,868

Loans acquired with deteriorated credit quality	$	−			−			−			−			−			−			−			−

Loans receivable as of December 31, 2014:

Ending balance – total	$	166,728			257,515			846,833			198,577			754,785			43,196			-			2,267,634
Unamortized net deferred loan costs																							946




Total non-covered loans																							2,268,580

Ending balances as of December 31, 2014: Loans

Individually evaluated for impairment	$	784			7,991			24,010			476			20,263			7			−			53,531

Collectively evaluated for impairment	$	165,944			249,524			822,823			198,101			733,875			43,189			-			2,213,456

Loans acquired with deteriorated credit quality	$	−			−			−			−			647			−			−			647

The following table presents the activity in the allowance for loan losses for non-covered loans for the year ended December 31, 2013.

($ in thousands)	Commercial, Financial, and Agricultural			Real Estate - Construction, Land Development, & Other Land Loans			Real Estate – Residential, Farmland, and Multi- family			Real Estate – Home Equity Lines of Credit			Real Estate – Commercial and Other			Consumer			Unallo- cated			Total

As of and for the year ended December 31, 2013

Beginning balance	$	4,687			12,856			14,082			1,884			5,247			1,939			948			41,643
Charge-offs		(4,418	)		(2,739	)		(3,732	)		(1,314	)		(4,346	)		(2,174	)		(660	)		(19,383	)
Recoveries		299			743			753			87			1,381			474			−			3,737
Provisions		6,864			2,106			4,039			1,181			3,242			1,274			(440	)		18,266
Ending balance	$	7,432			12,966			15,142			1,838			5,524			1,513			(152	)		44,263

Ending balances as of December 31, 2013: Allowance for loan losses

Individually evaluated for impairment	$	202			544			1,162			1			649			1			−			2,559

Collectively evaluated for impairment	$	7,230			12,422			13,980			1,837			4,875			1,512			(152	)		41,704

Loans acquired with deteriorated credit quality	$	−			−			−			−			−			−			−			−

Loans receivable as of December 31, 2013:

Ending balance – total	$	180,471			244,670			869,387			198,127			709,606			49,696			-			2,251,957
Unamortized net deferred loan costs																							923


Total non-covered loans																							2,252,885

Ending balances as of December 31, 2013: Loans

Individually evaluated for impairment	$	582			8,027			19,111			22			16,894			13			−			44,649

Collectively evaluated for impairment	$	179,889			236,643			850,276			198,105			692,712			49,683			-			2,207,308

Loans acquired with deteriorated credit quality	$	−			−			−			−			−			−			−			−

Schedule of activity in the allowance for loan losses for covered loans

The following table presents the activity in the allowance for loan losses for covered loans for the year ended December 31, 2014.

($ in thousands)	Covered Loans

As of and for the year ended December 31, 2014
Beginning balance	$	4,242
Charge-offs		(6,948	)
Recoveries		3,616
Transferred to non-covered		(1,737	)
Provisions		3,108
Ending balance	$	2,281
Ending balances as of December 31, 2014: Allowance for loan losses

Individually evaluated for impairment	$	1,161
Collectively evaluated for impairment		1,046
Loans acquired with deteriorated credit quality		74

Loans receivable as of December 31, 2014:

Ending balance – total	$	127,594

Ending balances as of December 31, 2014: Loans

Individually evaluated for impairment	$	11,484
Collectively evaluated for impairment		114,160
Loans acquired with deteriorated credit quality		1,950

The following table presents the activity in the allowance for loan losses for covered loans for the year ended December 31, 2013.

($ in thousands)	Covered Loans

As of and for the year ended December 31, 2013
Beginning balance	$	4,759
Charge-offs		(13,053	)
Recoveries		186
Provisions		12,350
Ending balance	$	4,242

Ending balances as of December 31, 2013: Allowance for loan losses

Individually evaluated for impairment	$	3,112
Collectively evaluated for impairment		1,105
Loans acquired with deteriorated credit quality		25

Loans receivable as of December 31, 2013:

Ending balance – total	$	210,309

Ending balances as of December 31, 2013: Loans

Individually evaluated for impairment	$	43,107
Collectively evaluated for impairment		164,060
Loans acquired with deteriorated credit quality		3,142

Schedule of impaired loans individually evaluated

The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2014.

($ in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Non-covered loans with no related allowance recorded:
Commercial, financial, and agricultural:
Commercial - unsecured	$	33		35		−		20
Commercial - secured		5		6		−		95
Secured by inventory and accounts receivable		−		−		−		−

Real estate – construction, land development & other land loans		6,877		7,944		−		6,430

Real estate – residential, farmland, and multi-family		9,165		10,225		−		7,776

Real estate – home equity lines of credit		476		498		−		388

Real estate – commercial		17,409		20,786		−		11,911

Consumer		7		10		−		7
Total non-covered impaired loans with no allowance	$	33,972		39,504		−		26,627

Total covered impaired loans with no allowance	$	8,097		12,081		−		16,986

Total impaired loans with no allowance recorded	$	42,069		51,585		−		43,613

Non-covered loans with an allowance recorded:
Commercial, financial, and agricultural:
Commercial - unsecured	$	140		143		47		142
Commercial - secured		606		612		164		550
Secured by inventory and accounts receivable		−		−		−		15

Real estate – construction, land development & other land loans		1,114		3,243		415		1,487

Real estate – residential, farmland, and multi-family		14,845		15,257		1,686		14,418

Real estate – home equity lines of credit		−		−		−		4

Real estate – commercial		3,501		3,530		165		6,420

Consumer		−		−		−		8
Total non-covered impaired loans with allowance	$	20,206		22,785		2,477		23,044

Total covered impaired loans with allowance	$	5,220		5,719		1,229		8,513

Total impaired loans with an allowance recorded	$	25,426		28,504		3,706		31,557

Interest income recorded on non-covered and covered impaired loans during the year ended December 31, 2014 was insignificant.

The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2013.

($ in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Non-covered loans with no related allowance recorded:
Commercial, financial, and agricultural:
Commercial - unsecured	$	−		−		−		−
Commercial - secured		−		−		−		334
Secured by inventory and accounts receivable		−		−		−		−

Real estate – construction, land development & other land loans		6,398		6,907		−		5,005

Real estate – residential, farmland, and multi-family		3,883		4,429		−		2,329

Real estate – home equity lines of credit		−		−		−		−

Real estate – commercial		7,324		9,008		−		9,981

Consumer		−		−		−		−
Total non-covered impaired loans with no allowance	$	17,605		20,344		−		17,649

Total covered impaired loans with no allowance	$	29,058		48,785		−		39,215

Total impaired loans with no allowance recorded	$	46,663		69,129		−		56,864

Non-covered loans with an allowance recorded:
Commercial, financial, and agricultural:
Commercial - unsecured	$	115		115		63		72
Commercial - secured		392		394		64		1,081
Secured by inventory and accounts receivable		75		75		75		80

Real estate – construction, land development & other land loans		1,629		2,148		544		2,339

Real estate – residential, farmland, and multi-family		15,228		15,642		1,162		13,417

Real estate – home equity lines of credit		22		22		1		637

Real estate – commercial		9,570		10,873		649		5,914

Consumer		13		35		1		466
Total non-covered impaired loans with allowance	$	27,044		29,304		2,559		24,006

Total covered impaired loans with allowance	$	17,068		22,367		3,133		14,343

Total impaired loans with an allowance recorded	$	44,112		51,671		5,692		38,349

Schedule of recorded investment in loans by credit quality indicators

The following table presents the Company's recorded investment in loans by credit quality indicators as of December 31, 2014.

($ in thousands)	Credit Quality Indicator (Grouped by Internally Assigned Grade)
	Pass (Grades 1, 2, & 3)		Pass – Acceptable/ Average (Grade 4)		Watch or Standard Loans (Grade 9)		Special Mention Loans (Grade 5)		Classified Loans (Grades 6, 7, & 8)		Nonaccrual Loans		Total
Non-covered loans:
Commercial, financial, and agricultural:
Commercial - unsecured	$	17,856		15,649		5		1,356		2,231		187		37,284
Commercial - secured		32,812		62,361		62		4,481		4,331		2,927		106,974
Secured by inventory and accounts receivable		10,815		9,928		−		767		506		454		22,470

Real estate – construction, land development & other land loans		87,806		135,072		771		13,066		12,909		7,891		257,515

Real estate – residential, farmland, and multi-family		221,581		520,790		4,536		40,993		34,474		24,459		846,833

Real estate – home equity lines of credit		122,528		62,642		1,135		5,166		4,533		2,573		198,577

Real estate - commercial		223,197		465,395		9,057		30,318		15,748		11,070		754,785

Consumer		25,520		15,614		54		855		648		505		43,196
Total	$	742,115		1,287,451		15,620		97,002		75,380		50,066		2,267,634
Unamortized net deferred loan costs														946
Total non-covered loans													$	2,268,580

Total covered loans	$	14,349		70,989		632		10,503		20,613		10,508	$	127,594

Total loans	$	756,464		1,358,440		16,252		107,505		95,993		60,574	$	2,396,174

At December 31, 2014, there was an insignificant amount of loans that were graded “8” with an accruing status.

As previously discussed, on July 1, 2014, the Company transferred $39.7 million of loans from the covered category to the non-covered category as a result of the scheduled expiration of one of the Company's loss-share agreements with the FDIC. Approximately $2.8 million of those loans were “Special Mention Loans”, $5.5 million were “Classified Loans”, and $9.7 million were “Nonaccrual Loans.”

The following table presents the Company's recorded investment in loans by credit quality indicators as of December 31, 2013.

($ in thousands)	Credit Quality Indicator (Grouped by Internally Assigned Grade)
	Pass (Grades 1, 2, & 3)		Pass – Acceptable/ Average (Grade 4)		Watch or Standard Loans (Grade 9)		Special Mention Loans (Grade 5)		Classified Loans (Grades 6, 7, & 8)		Nonaccrual Loans		Total
Non-covered loans:
Commercial, financial, and agricultural:
Commercial - unsecured	$	8,495		24,415		7		1,509		2,367		222		37,015
Commercial - secured		31,494		77,441		100		5,597		4,986		2,662		122,280
Secured by inventory and accounts receivable		4,098		12,800		−		2,022		1,711		545		21,176

Real estate – construction, land development & other land loans		31,221		181,050		2,365		11,646		10,333		8,055		244,670

Real estate – residential, farmland, and multi-family		227,053		540,349		5,062		41,583		37,526		17,814		869,387

Real estate – home equity lines of credit		120,205		63,400		1,499		5,699		5,124		2,200		198,127

Real estate - commercial		115,397		533,680		10,014		24,557		15,843		10,115		709,606

Consumer		25,703		21,790		54		829		995		325		49,696
Total	$	563,666		1,454,925		19,101		93,442		78,885		41,938		2,251,957
Unamortized net deferred loan costs														928
Total non-covered loans													$	2,252,885

Total covered loans	$	25,078		92,147		−		8,857		47,010		37,217	$	210,309

Total loans	$	588,744		1,547,072		19,101		102,299		125,895		79,155	$	2,463,194

Schedule of information related to loans modified in a troubled debt restructuring

The following table presents information related to loans modified in a troubled debt restructuring during the years ended December 31, 2014 and 2013.

($ in thousands)	For the year ended December 31, 2014						For the year ended December 31, 2013
	Number of Contracts		Pre- Modification Restructured Balances		Post- Modification Restructured Balances		Number of Contracts		Pre- Modification Restructured Balances		Post- Modification Restructured Balances
Non-covered TDRs – Accruing
Commercial, financial, and agricultural:
Commercial – unsecured		−	$	−	$	−		1	$	66	$	66
Commercial – secured		−		−		−		6		391		391
Secured by inventory and accounts receivable		−		−		−		−		−		−
Real estate – construction, land development & other land loans		−		−		−		3		1,786		1,786
Real estate – residential, farmland, and multi-family		11		2,571		2,571		11		1,530		1,532
Real estate – home equity lines of credit		−		−		−		−		−		−
Real estate – commercial		2		2,416		2,415		9		6,191		6,191
Consumer		−		−		−		1		14		14

Non-covered TDRs – Nonaccrual
Commercial, financial, and agricultural:
Commercial – unsecured		−		−		−		−		−		−
Commercial – secured		1		15		15		−		−		−
Secured by inventory and accounts receivable		−		−		−		−		−		−
Real estate – construction, land development & other land loans		−		−		−		3		800		800
Real estate – residential, farmland, and multi-family		8		770		769		11		1,187		1,187
Real estate – home equity lines of credit		−		−		−		−		−		−
Real estate – commercial		2		98		98		1		398		398
Consumer		−		−		−		−		−		−

Total non-covered TDRs arising during period		24		5,870		5,868		46		12,363		12,365

Total covered TDRs arising during period– Accruing		5	$	944	$	927		10	$	1,758	$	1,811
Total covered TDRs arising during period – Nonaccrual		8		966		933		1		187		167

Total TDRs arising during period		37	$	7,780	$	7,728		57	$	14,308	$	14,343

Schedule od accruing restructured loans that defaulted in the period

The Company considers a loan to have defaulted when it becomes 90 or more days delinquent under the modified terms, has been transferred to nonaccrual status, or has been transferred to foreclosed real estate.

($ in thousands)	For the year ended December 31, 2014				For the year ended December 31, 2013
	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment

Non-covered accruing TDRs that subsequently defaulted
Real estate – construction, land development & other land loans		1	$	5		1	$	342
Real estate – residential, farmland, and multi-family		−		−		1		252
Real estate – commercial		1		71		−		−

Total non-covered TDRs that subsequently defaulted		2	$	76		2	$	594

Total accruing covered TDRs that subsequently defaulted		1	$	353		1	$	3,501

Total accruing TDRs that subsequently defaulted		3	$	429		3	$	4,095