XML 36 R25.htm IDEA: XBRL DOCUMENT v3.19.1

Loans and Asset Quality Information (Tables)

3 Months Ended

Mar. 31, 2019

Summary of the major categories of total loans outstanding

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

($ in thousands)		March 31, 2019								December 31, 2018								March 31, 2018
		Amount				Percentage				Amount				Percentage				Amount				Percentage
All  loans:
Commercial, financial, and agricultural		$	468,388				11%			$	457,037				11%			$	411,662				10%
Real estate – construction, land development & other land loans			553,760				13%				518,976				12%				542,960				13%
Real estate – mortgage – residential (1-4 family) first mortgages			1,061,049				25%				1,054,176				25%				995,662				24%
Real estate – mortgage – home equity loans / lines of credit			354,669				8%				359,162				8%				373,797				9%
Real estate – mortgage – commercial and other			1,794,794				42%				1,787,022				42%				1,718,698				42%
Installment loans to individuals			69,503				1%				71,392				2%				71,257				2%
Subtotal			4,302,163				100%				4,247,765				100%				4,114,036				100%
Unamortized net deferred loan costs (fees)			1,624								1,299								(251	)
Total loans		$	4,303,787							$	4,249,064							$	4,113,785

Schedule of activity in purchased credit impaired loans

The following table presents changes in the recorded investment of purchased credit impaired (“PCI”) loans.

($ in thousands) PCI loans		For the Quarter Ended March 31, 2019				For the Year Ended December 31, 2018				For the Quarter Ended March 31, 2018
Balance at beginning of period		$	17,393				23,165				23,165
Change due to payments received and accretion			(1,556	)			(5,799	)			(1,023	)
Change due to loan charge-offs			(8	)			(10	)			—
Transfers to foreclosed real estate			—				(4	)			—
Other			38				41				5
Balance at end of period		$	15,867				17,393				22,147

The following table presents changes in the accretable yield for PCI loans.

($ in thousands) Accretable Yield for PCI loans		For the Quarter Ended March 31, 2019				For the Year Ended December 31, 2018				For the Quarter Ended March 31, 2018
Balance at beginning of period		$	4,750				4,688				4,688
Accretion			(392	)			(2,050	)			(374	)
Reclassification from (to) nonaccretable difference			237				849				155
Other, net			550				1,263				(73	)
Balance at end of period		$	5,145				4,750				4,396

Summary of nonperforming assets

Nonperforming assets are defined as nonaccrual loans, troubled debt restructured ("TDR") loans, loans past due 90 or more days and still accruing interest, and foreclosed real estate. Nonperforming assets are summarized as follows.

($ in thousands)		March 31, 2019				December 31, 2018				March 31, 2018
Nonperforming assets
Nonaccrual loans		$	20,684				22,575				21,849
TDRs- accruing			12,457				13,418				18,495
Accruing loans > 90 days past due			—				—				—
Total nonperforming loans			33,141				35,993				40,344
Foreclosed real estate			6,390				7,440				11,307
Total nonperforming assets		$	39,531				43,433				51,651
Purchased credit impaired loans not included above (1)		$	15,867				17,393				22,147

(1) In the March 3, 2017 acquisition of Carolina Bank, and the October 1, 2017 acquisition of Asheville Savings Bank, the Company acquired $19.3 million and $9.9 million, respectively, in PCI loans in accordance with ASC 310-30 accounting guidance. These loans are excluded from nonperforming loans, including $0.6 million, $0.6 million, and $0.5 million in PCI loans at March 31, 2019, December 31, 2018, and March 31, 2018, respectively, that were contractually past due 90 days or more.

Schedule of nonaccrual loans

The following is a summary of the Company’s nonaccrual loans by major categories.

($ in thousands)		March 31, 2019				December 31, 2018
Commercial, financial, and agricultural		$	980				919
Real estate – construction, land development & other land loans			1,677				2,265
Real estate – mortgage – residential (1-4 family) first mortgages			9,958				10,115
Real estate – mortgage – home equity loans / lines of credit			1,632				1,685
Real estate – mortgage – commercial and other			6,280				7,452
Installment loans to individuals			157				139
Total		$	20,684				22,575

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 March 31, 2019.

($ in thousands)		Accruing 30-59 Days Past Due				Accruing 60-89 Days Past Due				Accruing 90 Days or More Past Due				Nonaccrual Loans				Accruing Current				Total Loans Receivable
Commercial, financial, and agricultural		$	817				319				—				980				466,067				468,183
Real estate – construction, land development & other land loans			369				93				—				1,677				551,446				553,585
Real estate – mortgage – residential (1-4 family) first mortgages			6,480				485				—				9,958				1,038,072				1,054,995
Real estate – mortgage – home equity loans / lines of credit			624				—				—				1,632				352,081				354,337
Real estate – mortgage – commercial and other			438				275				—				6,280				1,778,884				1,785,877
Installment loans to individuals			526				51				—				157				68,585				69,319
Purchased credit impaired			340				389				551				—				14,587				15,867
Total		$	9,594				1,612				551				20,684				4,269,722				4,302,163
Unamortized net deferred loan costs																							1,624
Total loans																						$	4,303,787

The following table presents an analysis of the payment status of the Company’s loans as of December 31, 2018.

($ in thousands)		Accruing 30-59 Days Past Due				Accruing 60-89 Days Past Due				Accruing 90 Days or More Past Due				Nonaccrual Loans				Accruing Current				Total Loans Receivable
Commercial, financial, and agricultural		$	191				5				—				919				455,692				456,807
Real estate – construction, land development & other land loans			849				212				—				2,265				515,472				518,798
Real estate – mortgage – residential (1-4 family) first mortgages			14,178				1,369				—				10,115				1,022,261				1,047,923
Real estate – mortgage – home equity loans / lines of credit			1,048				254				—				1,685				355,831				358,818
Real estate – mortgage – commercial and other			709				520				—				7,452				1,768,205				1,776,886
Installment loans to individuals			359				220				—				139				70,422				71,140
Purchased credit impaired			990				138				583				—				15,682				17,393
Total		$	18,324				2,718				583				22,575				4,203,565				4,247,765
Unamortized net deferred loan costs																							1,299
Total loans																						$	4,249,064

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

The following table presents the activity in the allowance for loan losses for all loans for the three months ended March 31, 2019.

($ in thousands)		Commercial, Financial, and Agricultural				Real Estate – Construction, Land Development & Other Land Loans				Real Estate – Residential (1-4 Family) First Mortgages				Real Estate – Mortgage – Home Equity Lines of Credit				Real Estate – Mortgage – Commercial and Other				Installment Loans to Individuals				Unallo -cated				Total
As of and for the three months ended March 31, 2019
Beginning balance		$	2,889				2,243				5,197				1,665				7,983				952				110				21,039
Charge-offs			(246	)			(264	)			(30	)			(80	)			(836	)			(281	)			—				(1,737	)
Recoveries			414				287				160				128				271				33				—				1,293
Provisions			652				18				(817	)			(339	)			702				302				(18	)			500
Ending balance		$	3,709				2,284				4,510				1,374				8,120				1,006				92				21,095
Ending balances as of March 31, 2019: Allowance for loan losses
Individually evaluated for impairment		$	857				28				858				—				312				—				—				2,055
Collectively evaluated for impairment		$	2,852				2,256				3,596				1,362				7,723				990				92				18,871
Purchased credit impaired		$	—				—				56				12				85				16				—				169
Loans receivable as of March 31, 2019:
Ending balance – total		$	468,388				553,760				1,061,049				354,669				1,794,794				69,503				—				4,302,163
Unamortized net deferred loan costs																															1,624
Total loans																														$	4,303,787
Ending balances as of March 31, 2019: Loans
Individually evaluated for impairment		$	1,044				797				10,891				21				8,396				—				—				21,149
Collectively evaluated for impairment		$	467,139				552,788				1,044,104				354,316				1,777,481				69,319				—				4,265,147
Purchased credit impaired		$	205				175				6,054				332				8,917				184				—				15,867

The following table presents the activity in the allowance for loan losses for the year ended December 31, 2018.

($ in thousands)		Commercial, Financial, and Agricultural				Real Estate – Construction, Land Development & Other Land Loans				Real Estate – Residential (1-4 Family) First Mortgages				Real Estate – Mortgage – Home Equity Lines of Credit				Real Estate – Mortgage – Commercial and Other				Installment Loans to Individuals				Unallo -cated				Total
As of and for the year ended December 31, 2018
Beginning balance		$	3,111				2,816				6,147				1,827				6,475				950				1,972				23,298
Charge-offs			(2,128	)			(158	)			(1,734	)			(711	)			(1,459	)			(781	)			—				(6,971	)
Recoveries			1,195				4,097				833				364				1,503				309				—				8,301
Provisions			711				(4,512	)			(49	)			185				1,464				474				(1,862	)			(3,589	)
Ending balance		$	2,889				2,243				5,197				1,665				7,983				952				110				21,039
Ending balances as of December 31, 2018: Allowance for loan losses
Individually evaluated for impairment		$	226				134				955				48				906				—				—				2,269
Collectively evaluated for impairment		$	2,661				2,109				4,143				1,608				7,070				941				110				18,642
Purchased credit impaired		$	2				—				99				9				7				11				—				128
Loans receivable as of December 31, 2018:
Ending balance – total		$	457,037				518,976				1,054,176				359,162				1,787,022				71,392				—				4,247,765
Unamortized net deferred loan costs																															1,299
Total loans																														$	4,249,064
Ending balances as of December 31, 2018: Loans
Individually evaluated for impairment		$	696				1,345				12,391				296				9,525				—				—				24,253
Collectively evaluated for impairment		$	456,111				517,453				1,035,532				358,522				1,767,361				71,140				—				4,206,119
Purchased credit impaired		$	230				178				6,253				344				10,136				252				—				17,393

The following table presents the activity in the allowance for loan losses for all loans for the three months ended March 31, 2018.

($ in thousands)		Commercial, Financial, and Agricultural				Real Estate – Construction, Land Development, & Other Land Loans				Real Estate – Residential (1-4 Family) First Mortgages				Real Estate – Mortgage – Home Equity Lines of Credit				Real Estate – Mortgage – Commercial and Other				Installment Loans to Individuals				Unallo -cated				Total
As of and for the three months ended March 31, 2018
Beginning balance		$	3,111				2,816				6,147				1,827				6,475				950				1,972				23,298
Charge-offs			(239	)			(2	)			(243	)			(176	)			(41	)			(118	)			—				(819	)
Recoveries			499				3,046				145				153				582				53				—				4,478
Provisions			(835	)			(3,543	)			(157	)			462				(1,025	)			(41	)			1,480				(3,659	)
Ending balance		$	2,536				2,317				5,892				2,266				5,991				844				3,452				23,298
Ending balances as of March 31, 2018:  Allowance for loan losses
Individually evaluated for impairment		$	143				22				1,120				—				398				—				—				1,683
Collectively evaluated for impairment		$	2,391				2,295				4,598				2,225				5,581				844				3,452				21,386
Purchased credit impaired		$	2				—				174				41				12				—				—				229
Loans receivable as of March 31, 2018:
Ending balance – total		$	411,662				542,960				995,662				373,797				1,718,698				71,257				—				4,114,036
Unamortized net deferred loan fees																															(251	)
Total loans																														$	4,113,785
Ending balances as of March 31, 2018: Loans
Individually evaluated for impairment		$	433				3,242				13,783				23				9,063				—				—				26,544
Collectively evaluated for impairment		$	410,816				539,317				973,550				373,501				1,697,319				70,842				—				4,065,345
Purchased credit impaired		$	413				401				8,329				273				12,316				415				—				22,147

Schedule of impaired loans individually evaluated

The following table presents loans individually evaluated for impairment by class of loans, excluding PCI loans, as of March 31, 2019.

($ in thousands)		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment
Impaired loans with no related allowance recorded:
Commercial, financial, and agricultural		$	28				29				—				169
Real estate – mortgage – construction, land development & other land loans			458				782				—				472
Real estate – mortgage – residential (1-4 family) first mortgages			4,789				5,112				—				4,708
Real estate – mortgage –home equity loans / lines of credit			21				30				—				21
Real estate – mortgage –commercial and other			4,016				4,808				—				3,745
Installment loans to individuals			—				—				—				—
Total impaired loans with no allowance		$	9,312				10,761				—				9,115
Impaired loans with an allowance recorded:
Commercial, financial, and agricultural		$	1,016				1,016				857				701
Real estate – mortgage – construction, land development & other land loans			339				339				28				599
Real estate – mortgage – residential (1-4 family) first mortgages			6,102				6,303				858				6,934
Real estate – mortgage –home equity loans / lines of credit			—				—				—				137
Real estate – mortgage –commercial and other			4,380				4,998				312				5,215
Installment loans to individuals			—				—				—				—
Total impaired loans with allowance		$	11,837				12,655				2,055				13,586

Interest income recorded on impaired loans during the three months ended March 31, 2019 was insignificant.

The following table presents loans individually evaluated for impairment by class of loans, excluding PCI loans, as of December 31, 2018.

($ in thousands)		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment
Impaired loans with no related allowance recorded:
Commercial, financial, and agricultural		$	310				310				—				957
Real estate – mortgage – construction, land development & other land loans			485				803				—				2,366
Real estate – mortgage – residential (1-4 family) first mortgages			4,626				4,948				—				4,804
Real estate – mortgage –home equity loans / lines of credit			22				31				—				91
Real estate – mortgage –commercial and other			3,475				4,237				—				3,670
Installment loans to individuals			—				—				—				—
Total impaired loans with no allowance		$	8,918				10,329				—				11,888
Impaired loans with an allowance recorded:
Commercial, financial, and agricultural		$	386				387				226				422
Real estate – mortgage – construction, land development & other land loans			860				864				134				385
Real estate – mortgage – residential (1-4 family) first mortgages			7,765				7,904				955				8,963
Real estate – mortgage –home equity loans / lines of credit			274				275				48				184
Real estate – mortgage –commercial and other			6,050				6,054				906				5,911
Installment loans to individuals			—				—				—				2
Total impaired loans with allowance		$	15,335				15,484				2,269				15,867

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 March 31, 2019.

($ in thousands)
		Pass				Special Mention Loans				Classified Accruing Loans				Classified Nonaccrual Loans				Total
Commercial, financial, and agricultural		$	460,963				4,667				1,573				980				468,183
Real estate – construction, land development & other land loans			544,496				5,960				1,452				1,677				553,585
Real estate – mortgage – residential (1-4 family) first mortgages			1,009,860				16,271				18,905				9,958				1,054,994
Real estate – mortgage – home equity loans / lines of credit			345,187				1,466				6,052				1,632				354,337
Real estate – mortgage – commercial and other			1,752,757				18,664				8,177				6,280				1,785,878
Installment loans to individuals			68,606				227				329				157				69,319
Purchased credit impaired			8,148				4,025				3,694				—				15,867
Total		$	4,190,017				51,280				40,182				20,684				4,302,163
Unamortized net deferred loan costs																			1,624
Total loans																			4,303,787

The following table presents the Company’s recorded investment in loans by credit quality indicators as of December 31, 2018.

($ in thousands)
		Pass				Special Mention Loans				Classified Accruing Loans				Classified Nonaccrual Loans				Total
Commercial, financial, and agricultural		$	452,372				3,056				459				919				456,806
Real estate – construction, land development & other land loans			509,251				5,668				1,614				2,265				518,798
Real estate – mortgage – residential (1-4 family) first mortgages			1,004,458				12,238				21,113				10,115				1,047,924
Real estate – mortgage – home equity loans / lines of credit			348,792				1,688				6,653				1,685				358,818
Real estate – mortgage – commercial and other			1,750,810				14,484				4,140				7,452				1,776,886
Installment loans to individuals			70,357				231				413				139				71,140
Purchased credit impaired			8,355				5,214				3,824				—				17,393
Total		$	4,144,395				42,579				38,216				22,575				4,247,765
Unamortized net deferred loan costs																			1,299
Total loans																			4,249,064

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 three months ended March 31, 2019 and 2018.

($ in thousands)		For three months ended March 31, 2019												For the three months ended March 31, 2018
		Number of Contracts				Pre- Modification Restructured Balances				Post- Modification Restructured Balances				Number of Contracts				Pre- Modification Restructured Balances				Post- Modification Restructured Balances
TDRs – Accruing
Commercial, financial, and agricultural			—			$	—			$	—				—			$	—			$	—
Real estate – construction, land development & other land loans			—				—				—				—				—				—
Real estate – mortgage – residential (1-4 family) first mortgages			1				55				55				—				—				—
Real estate – mortgage – home equity loans / lines of credit			—				—				—				—				—				—
Real estate – mortgage – commercial and other			—				—				—				—				—				—
Installment loans to individuals			—				—				—				—				—				—
TDRs – Nonaccrual
Commercial, financial, and agricultural			—				—				—				—				—				—
Real estate – construction, land development & other land loans			—				—				—				1				61				61
Real estate – mortgage – residential (1-4 family) first mortgages			—				—				—				2				254				264
Real estate – mortgage – home equity loans / lines of credit			—				—				—				—				—				—
Real estate – mortgage – commercial and other			—				—				—				—				—				—
Installment loans to individuals			—				—				—				—				—				—
Total TDRs arising during period			1			$	55			$	55				3			$	315			$	325

Schedule of accruing restructured loans that defaulted in the period

Accruing restructured loans that were modified in the previous 12 months and that defaulted during the three months ended March 31, 2019 and 2018 are presented in the table below. 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 three months ended March 31, 2019								For the three months ended March 31, 2018
		Number of Contracts				Recorded Investment				Number of Contracts				Recorded Investment
Accruing TDRs that subsequently defaulted
Real estate – mortgage – residential (1-4 family first mortgages)			1			$	93				—			$	—
Real estate – mortgage – commercial and other			—				—				1				570
Total accruing TDRs that subsequently defaulted			1			$	93				1			$	570

X

- Definition

Schedule detailing information related to accruing restructured loans that defaulted in period.

+ References

No definition available.

+ Details

Name:	fbp_ScheduleOfAccruingRestructuredLoansThatDefaultedInPeriodTableTextBlock
Namespace Prefix:	fbp_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule summary of the major categories of loans, and for each the gross carrying value and percentage to total loans.

+ References

No definition available.

+ Details

Name:	fbp_ScheduleOfAllLoansTableTextBlock
Namespace Prefix:	fbp_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of activity of the allowance for loan losses for non-covered loans.

+ References

No definition available.

+ Details

Name:	fbp_ScheduleOfAllowanceForLoanLossesForNoncoveredLoansTableTextBlock
Namespace Prefix:	fbp_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule detailing the loans receivables that are due but not impaired and receivables that are 90 days past due and still accruing. The schedule also includes loans receivables current and on nonaccrual status.

+ References

No definition available.

+ Details

Name:	fbp_ScheduleOfAnalysisOfPaymentStatusOfLoansTableTextBlock
Namespace Prefix:	fbp_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of the recorded investment, unpaid principal balance, associated allowance, and average recorded investment for impaired loans by type.

+ References

No definition available.

+ Details

Name:	fbp_ScheduleOfImpairedLoansTableTextBlock
Namespace Prefix:	fbp_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of nonaccrual loans receivables on nonaccrual status as of each balance sheet date.

+ References

No definition available.

+ Details

Name:	fbp_ScheduleOfNonaccrualLoansTableTextBlock
Namespace Prefix:	fbp_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of activity of purchased impaired loans.

+ References

No definition available.

+ Details

Name:	fbp_ScheduleOfPurchasedImpairedLoansTableTextBlock
Namespace Prefix:	fbp_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of carrying amount of nonperforming assets (non accrual loans, restructured loans, loans past 90 days or more days accruing, and other real estate).

+ References

No definition available.

+ Details

Name:	fbp_SummaryOfNonperformingAssetsTableTextBlock
Namespace Prefix:	fbp_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953659-111524

+ Details

Name:	us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of troubled debt restructuring which results when the debtor restructures the terms of its debt with a creditor due to the debtor's financial difficulties and the creditor grants certain concessions to obtain payment it might not otherwise receive. Includes a description of the principal changes in terms, the major features of settlement for each restructuring, the aggregate gain on restructuring and the related income tax effect, the per share amount of the total gain on restructuring, net of related income tax effect, and the total gain (loss) on transfers of assets recognized during the period. After the troubled debt restructuring has occurred debtors discuss the extent and amount to which amounts contingently payable are included in the carrying amount of restructured payables, and the conditions under which those amounts would become payable or would be forgiven when there is at least a reasonable possibility that a liability for contingent payments will be incurred.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 60
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6402221&loc=d3e15743-112638

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 60
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6402221&loc=d3e15765-112638

+ Details

Name:	us-gaap_SummaryOfTroubledDebtRestructuringNoteDebtorTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration