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Portfolio Loans (Tables) (Non-Covered Loans)
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9 Months Ended |
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Sep. 30, 2014
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Non-Covered Loans
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| Non-covered Loans [Line Items] |
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| Summary of Non-covered Loans by Category |
Below is a summary of Portfolio loans by category at September 30, 2014, and December 31, 2013:
| | | | | | | | | (in thousands) | September 30, 2014 | | December 31, 2013 | Real Estate Loans: | | | | Construction and land development | $ | 123,888 |
| | $ | 117,032 |
| Commercial real estate - Investor owned | 391,791 |
| | 437,688 |
| Commercial real estate - Owner occupied | 366,724 |
| | 341,631 |
| Residential real estate | 187,594 |
| | 158,527 |
| Total real estate loans | $ | 1,069,997 |
| | $ | 1,054,878 |
| Commercial and industrial | 1,172,015 |
| | 1,041,576 |
| Consumer and other | 51,816 |
| | 39,838 |
| Portfolio loans | $ | 2,293,828 |
| | $ | 2,136,292 |
| Unearned loan costs, net | 1,077 |
| | 1,021 |
| Portfolio loans, including unearned loan costs | $ | 2,294,905 |
| | $ | 2,137,313 |
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| Summary of Allowance for Loan Losses for Non-covered Loans by Portfolio Class and Category |
A summary of the year-to-date activity in the allowance for loan losses and the recorded investment in Portfolio loans by class and category based on impairment method through September 30, 2014, and at December 31, 2013, is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | Commercial & Industrial | | Commercial
Real Estate
Owner Occupied | | Commercial
Real Estate
Investor Owned | | Construction and Land Development | | Residential Real Estate | | Consumer & Other | | Total | Allowance for Loan Losses: | | | | | | | | | | | | | | Balance at
December 31, 2013 | $ | 12,246 |
| | $ | 4,096 |
| | $ | 6,600 |
| | $ | 2,136 |
| | $ | 2,019 |
| | $ | 192 |
| | $ | 27,289 |
| Provision charged to expense | 899 |
| | 589 |
| | (9 | ) | | (532 | ) | | 16 |
| | 64 |
| | 1,027 |
| Losses charged off | (474 | ) | | (336 | ) | | (250 | ) | | (305 | ) | | — |
| | (4 | ) | | (1,369 | ) | Recoveries | 187 |
| | 8 |
| | 34 |
| | 688 |
| | 41 |
| | — |
| | 958 |
| Balance at
March 31, 2014 | $ | 12,858 |
| | $ | 4,357 |
| | $ | 6,375 |
| | $ | 1,987 |
| | $ | 2,076 |
| | $ | 252 |
| | $ | 27,905 |
| Provision charged to expense | 3,068 |
| | (262 | ) | | (2,064 | ) | | 132 |
| | 412 |
| | 62 |
| | 1,348 |
| Losses charged off | (1,005 | ) | | (88 | ) | | — |
| | — |
| | — |
| | — |
| | (1,093 | ) | Recoveries | 154 |
| | 14 |
| | 19 |
| | 36 |
| | 39 |
| | — |
| | 262 |
| Balance at
June 30, 2014 | $ | 15,075 |
| | $ | 4,021 |
| | $ | 4,330 |
| | $ | 2,155 |
| | $ | 2,527 |
| | $ | 314 |
| | $ | 28,422 |
| Provision charged to expense | 169 |
| | (245 | ) | | (101 | ) | | 321 |
| | (110 | ) | | 32 |
| | 66 |
| Losses charged off | (215 | ) | | (50 | ) | | — |
| | (600 | ) | | — |
| | — |
| | (865 | ) | Recoveries | 880 |
| | 8 |
| | 23 |
| | 35 |
| | 230 |
| | 1 |
| | 1,177 |
| Balance at
September 30, 2014 | $ | 15,909 |
| | $ | 3,734 |
| | $ | 4,252 |
| | $ | 1,911 |
| | $ | 2,647 |
| | $ | 347 |
| | $ | 28,800 |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | Commercial & Industrial | | Commercial
Real Estate
Owner Occupied | | Commercial
Real Estate
Investor Owned | | Construction and Land Development | | Residential Real Estate | | Consumer & Other | | Total | Balance September 30, 2014 | | | | | | | | | | | | | | Allowance for Loan Losses - Ending Balance: | | | | | | | | | | | | | | Individually evaluated for impairment | $ | 404 |
| | $ | 293 |
| | $ | — |
| | $ | 364 |
| | $ | 17 |
| | $ | — |
| | $ | 1,078 |
| Collectively evaluated for impairment | 15,505 |
| | 3,441 |
| | 4,252 |
| | 1,547 |
| | 2,630 |
| | 347 |
| | 27,722 |
| Total | $ | 15,909 |
| | $ | 3,734 |
| | $ | 4,252 |
| | $ | 1,911 |
| | $ | 2,647 |
| | $ | 347 |
| | $ | 28,800 |
| Loans - Ending Balance: | | | | | | | |
| | | | | | | Individually evaluated for impairment | $ | 3,198 |
| | $ | 4,820 |
| | $ | 5,164 |
| | $ | 6,455 |
| | $ | 386 |
| | $ | — |
| | $ | 20,023 |
| Collectively evaluated for impairment | 1,168,817 |
| | 361,904 |
| | 386,627 |
| | 117,433 |
| | 187,208 |
| | 52,893 |
| | 2,274,882 |
| Total | $ | 1,172,015 |
| | $ | 366,724 |
| | $ | 391,791 |
| | $ | 123,888 |
| | $ | 187,594 |
| | $ | 52,893 |
| | $ | 2,294,905 |
| | | | | | | | | | | | | | | Balance at December 31, 2013 | | | | | | | | | | | | | | Allowance for Loan Losses - Ending Balance: | | | | | | | | | | | | | | Individually evaluated for impairment | $ | 736 |
| | $ | 107 |
| | $ | — |
| | $ | 703 |
| | $ | 4 |
| | $ | — |
| | $ | 1,550 |
| Collectively evaluated for impairment | 11,510 |
| | 3,989 |
| | 6,600 |
| | 1,433 |
| | 2,015 |
| | 192 |
| | 25,739 |
| Total | $ | 12,246 |
| | $ | 4,096 |
| | $ | 6,600 |
| | $ | 2,136 |
| | $ | 2,019 |
| | $ | 192 |
| | $ | 27,289 |
| Loans - Ending Balance: | | | | | | | | | | | | | | Individually evaluated for impairment | $ | 3,380 |
| | $ | 606 |
| | $ | 6,811 |
| | $ | 9,484 |
| | $ | 559 |
| | $ | — |
| | $ | 20,840 |
| Collectively evaluated for impairment | 1,038,196 |
| | 341,025 |
| | 430,877 |
| | 107,548 |
| | 157,968 |
| | 40,859 |
| | 2,116,473 |
| Total | $ | 1,041,576 |
| | $ | 341,631 |
| | $ | 437,688 |
| | $ | 117,032 |
| | $ | 158,527 |
| | $ | 40,859 |
| | $ | 2,137,313 |
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| Summary of Non-covered Loans Individually Evaluated for Impairment by Category |
A summary of Portfolio loans individually evaluated for impairment by category at September 30, 2014, and December 31, 2013, is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2014 | (in thousands) | Unpaid
Contractual
Principal Balance | | Recorded
Investment
With No Allowance | | Recorded
Investment
With Allowance | | Total
Recorded Investment | | Related Allowance | | Average
Recorded Investment | Commercial & Industrial | $ | 4,512 |
| | $ | 3,198 |
| | $ | — |
| | $ | 3,198 |
| | $ | 404 |
| | $ | 4,037 |
| Real Estate: | | | | | | | | | | | | Commercial - Owner Occupied | 4,876 |
| | 773 |
| | 1,891 |
| | 2,664 |
| | 293 |
| | 1,388 |
| Commercial - Investor Owned | 5,164 |
| | — |
| | 5,164 |
| | 5,164 |
| | — |
| | 4,138 |
| Construction and Land Development | 7,550 |
| | 430 |
| | 6,026 |
| | 6,456 |
| | 364 |
| | 7,565 |
| Residential | 386 |
| | 200 |
| | 185 |
| | 385 |
| | 17 |
| | 495 |
| Consumer & Other | — |
| | — |
| | — |
| | — |
| | — |
| | 519 |
| Total | $ | 22,488 |
| | $ | 4,601 |
| | $ | 13,266 |
| | $ | 17,867 |
| | $ | 1,078 |
| | $ | 18,142 |
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| | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2013 | (in thousands) | Unpaid
Contractual
Principal Balance | | Recorded
Investment
With No Allowance | | Recorded
Investment
With Allowance | | Total
Recorded Investment | | Related Allowance | | Average
Recorded Investment | Commercial & Industrial | $ | 4,377 |
| | $ | — |
| | $ | 3,384 |
| | $ | 3,384 |
| | $ | 736 |
| | $ | 6,574 |
| Real Estate: | | | | | | | | | | | | Commercial - Owner Occupied | 606 |
| | 201 |
| | 421 |
| | 622 |
| | 107 |
| | 1,868 |
| Commercial - Investor Owned | 8,033 |
| | 7,190 |
| | — |
| | 7,190 |
| | — |
| | 11,348 |
| Construction and Land Development | 10,668 |
| | 7,383 |
| | 2,419 |
| | 9,802 |
| | 703 |
| | 5,770 |
| Residential | 559 |
| | 348 |
| | 221 |
| | 569 |
| | 4 |
| | 1,930 |
| Consumer & Other | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total | $ | 24,243 |
| | $ | 15,122 |
| | $ | 6,445 |
| | $ | 21,567 |
| | $ | 1,550 |
| | $ | 27,490 |
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The recorded investment in impaired Portfolio loans by category at September 30, 2014, and December 31, 2013, is as follows: | | | | | | | | | | | | | | | | | | September 30, 2014 | (in thousands) | Non-accrual | | Restructured | | Loans over 90 days past due and still accruing interest | | Total | Commercial & Industrial | $ | 3,221 |
| | $ | — |
| | $ | 340 |
| | $ | 3,561 |
| Real Estate: | | | | | | | | Commercial - Investor Owned | 4,755 |
| | 587 |
| | — |
| | 5,342 |
| Commercial - Owner Occupied | 2,192 |
| | 777 |
| | — |
| | 2,969 |
| Construction and Land Development | 6,849 |
| | — |
| | — |
| | 6,849 |
| Residential | 401 |
| | — |
| | — |
| | 401 |
| Consumer & Other | — |
| | — |
| | — |
| | — |
| Total | $ | 17,418 |
| | $ | 1,364 |
| | $ | 340 |
| | $ | 19,122 |
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| | | | | | | | | | | | | | | | | | December 31, 2013 | (in thousands) | Non-accrual | | Restructured | | Loans over 90 days past due and still accruing interest | | Total | Commercial & Industrial | $ | 3,384 |
| | $ | — |
| | $ | — |
| | $ | 3,384 |
| Real Estate: | | | | | | | | Commercial - Investor Owned | 6,511 |
| | 678 |
| | — |
| | 7,189 |
| Commercial - Owner Occupied | 622 |
| | — |
| | — |
| | 622 |
| Construction and Land Development | 9,802 |
| | — |
| | — |
| | 9,802 |
| Residential | 569 |
| | — |
| | — |
| | 569 |
| Consumer & Other | — |
| | — |
| | — |
| | — |
| Total | $ | 20,888 |
| | $ | 678 |
| | $ | — |
| | $ | 21,566 |
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| Summary of Past Due and Impaired Loans |
The following table presents details for past due and impaired loans: | | | | | | | | | | | | | | | | | | September 30, 2014 | | September 30, 2013 | (in thousands) | Three months ended | | Nine months ended | | Three months ended | | Nine months ended | Total interest income that would have been recognized under original terms | $ | 246 |
| | $ | 927 |
| | $ | 410 |
| | $ | 1,454 |
| Total cash received and recognized as interest income on non-accrual loans | 51 |
| | 83 |
| | 4 |
| | 28 |
| Total interest income recognized on impaired loans | 11 |
| | 27 |
| | 4 |
| | 33 |
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| Summary of Restructured Loans |
The recorded investment by category for the Portfolio loans that have been restructured during the three and nine months ended September 30, 2014 and 2013, is as follows:
| | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, 2014 | | Three months ended September 30, 2013 | (in thousands, except for number of loans) | Number of Loans | | Pre-Modification Outstanding Recorded Balance | | Post-Modification Outstanding Recorded Balance | | Number of Loans | | Pre-Modification Outstanding Recorded Balance | | Post-Modification Outstanding Recorded Balance | Commercial & Industrial | 2 |
| | $ | 658 |
| | $ | 658 |
| | — |
| | $ | — |
| | $ | — |
| Real Estate: | | | | | | | | | | | | Commercial - Owner Occupied | 1 |
| | 357 |
| | 357 |
| | — |
| | — |
| | — |
| Commercial - Investor Owned | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Construction and Land Development | 1 |
| | 2,827 |
| | 2,827 |
| | — |
| | — |
| | — |
| Residential | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Consumer & Other | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total | 4 |
| | $ | 3,842 |
| | $ | 3,842 |
| | — |
| | $ | — |
| | $ | — |
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| | | | | | | | | | | | | | | | | | | | | | | | Nine months ended September 30, 2014 | | Nine months ended September 30, 2013 | (in thousands, except for number of loans) | Number of Loans | | Pre-Modification Outstanding Recorded Balance | | Post-Modification Outstanding Recorded Balance | | Number of Loans | | Pre-Modification Outstanding Recorded Balance | | Post-Modification Outstanding Recorded Balance | Commercial & Industrial | 2 |
| | $ | 658 |
| | $ | 658 |
| | 1 |
| | $ | 5 |
| | $ | 5 |
| Real Estate: | | | | | | | | | | | | Commercial - Owner Occupied | 3 |
| | 1,649 |
| | 1,399 |
| | — |
| | — |
| | — |
| Commercial - Investor Owned | 1 |
| | 603 |
| | 603 |
| | — |
| | — |
| | — |
| Construction and Land Development | 1 |
| | 2,827 |
| | 2,827 |
| | — |
| | — |
| | — |
| Residential | 1 |
| | 125 |
| | 125 |
| | — |
| | — |
| | — |
| Consumer & Other | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total | 8 |
| | $ | 5,862 |
| | $ | 5,612 |
| | 1 |
| | $ | 5 |
| | $ | 5 |
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| Summary of Aging of Recorded Investment in Past Due Non-covered Loans by Portfolio Class and Category |
The aging of the recorded investment in past due Portfolio loans by portfolio class and category at September 30, 2014, and December 31, 2013, is shown below.
| | | | | | | | | | | | | | | | | | | | | | September 30, 2014 | (in thousands) | 30-89 Days Past Due | | 90 or More
Days Past Due | | Total Past Due | | Current | | Total | Commercial & Industrial | $ | 785 |
| | $ | 706 |
| | $ | 1,491 |
| | $ | 1,170,524 |
| | $ | 1,172,015 |
| Real Estate: | | | | | | | | | | Commercial - Owner Occupied | 712 |
| | 1,156 |
| | 1,868 |
| | 364,856 |
| | 366,724 |
| Commercial - Investor Owned | 451 |
| | 4,577 |
| | 5,028 |
| | 386,763 |
| | 391,791 |
| Construction and Land Development | — |
| | 2,528 |
| | 2,528 |
| | 121,360 |
| | 123,888 |
| Residential | — |
| | 385 |
| | 385 |
| | 187,209 |
| | 187,594 |
| Consumer & Other | 15 |
| | — |
| | 15 |
| | 52,878 |
| | 52,893 |
| Total | $ | 1,963 |
| | $ | 9,352 |
| | $ | 11,315 |
| | $ | 2,283,590 |
| | $ | 2,294,905 |
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| | | | | | | | | | | | | | | | | | | | | | December 31, 2013 | (in thousands) | 30-89 Days Past Due | | 90 or More
Days Past Due | | Total Past Due | | Current | | Total | Commercial & Industrial | $ | 229 |
| | $ | — |
| | $ | 229 |
| | $ | 1,041,347 |
| | $ | 1,041,576 |
| Real Estate: | | | | | | | | | | Commercial - Owner Occupied | — |
| | 428 |
| | 428 |
| | 341,203 |
| | 341,631 |
| Commercial - Investor Owned | — |
| | 6,132 |
| | 6,132 |
| | 431,556 |
| | 437,688 |
| Construction and Land Development | 464 |
| | 7,344 |
| | 7,808 |
| | 109,224 |
| | 117,032 |
| Residential | 237 |
| | 213 |
| | 450 |
| | 158,077 |
| | 158,527 |
| Consumer & Other | — |
| | — |
| | — |
| | 40,859 |
| | 40,859 |
| Total | $ | 930 |
| | $ | 14,117 |
| | $ | 15,047 |
| | $ | 2,122,266 |
| | $ | 2,137,313 |
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| Summary of Recorded Investment by Risk Category of Non-covered Loans by Portfolio Class and Category |
The recorded investment by risk category of the Portfolio loans by portfolio class and category at September 30, 2014, which is based upon the most recent analysis performed, and December 31, 2013 is as follows:
| | | | | | | | | | | | | | | | | | | | | | September 30, 2014 | (in thousands) | Pass (1-6) | | Watch (7) | | Substandard (8) | | Doubtful (9) | | Total | Commercial & Industrial | $ | 1,066,001 |
| | $ | 66,098 |
| | $ | 39,545 |
| | $ | 371 |
| | $ | 1,172,015 |
| Real Estate: | | | | | | | | | | Commercial - Owner Occupied | 337,763 |
| | 20,241 |
| | 8,720 |
| | — |
| | 366,724 |
| Commercial - Investor Owned | 353,824 |
| | 24,295 |
| | 13,672 |
| | — |
| | 391,791 |
| Construction and Land Development | 99,832 |
| | 13,547 |
| | 10,509 |
| | — |
| | 123,888 |
| Residential | 165,300 |
| | 13,730 |
| | 8,564 |
| | — |
| | 187,594 |
| Consumer & Other | 52,425 |
| | 54 |
| | 414 |
| | — |
| | 52,893 |
| Total | $ | 2,075,145 |
| | $ | 137,965 |
| | $ | 81,424 |
| | $ | 371 |
| | $ | 2,294,905 |
|
| | | | | | | | | | | | | | | | | | | | | | December 31, 2013 | (in thousands) | Pass (1-6) | | Watch (7) | | Substandard (8) | | Doubtful (9) | | Total | Commercial & Industrial | $ | 977,199 |
| | $ | 40,265 |
| | $ | 23,934 |
| | $ | 178 |
| | $ | 1,041,576 |
| Real Estate: | | | | | | | | | | Commercial - Owner Occupied | 306,321 |
| | 26,500 |
| | 8,810 |
| | — |
| | 341,631 |
| Commercial - Investor Owned | 368,433 |
| | 42,227 |
| | 27,028 |
| | — |
| | 437,688 |
| Construction and Land Development | 87,812 |
| | 17,175 |
| | 11,582 |
| | 463 |
| | 117,032 |
| Residential | 143,613 |
| | 8,240 |
| | 6,674 |
| | — |
| | 158,527 |
| Consumer & Other | 40,852 |
| | 3 |
| | 4 |
| | — |
| | 40,859 |
| Total | $ | 1,924,230 |
| | $ | 134,410 |
| | $ | 78,032 |
| | $ | 641 |
| | $ | 2,137,313 |
|
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