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Loans | 12 Months Ended
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Dec. 31, 2016
Loans Receivable, Net [Abstract] |
Loans | LOANS The following summarizes the Company’s major classifications for loans (in thousands):
| December 31, 2016 | December 31, 2015
Residential real estate | $ | 1,451,462 |  | $ | 1,383,133 |
Home equity | 141,965 |  | 147,036 |
Commercial and industrial | 185,667 |  | 165,340 |
Commercial real estate | 1,229,516 |  | 1,127,581 |
Consumer | 32,545 |  | 36,083 |
DDA overdrafts | 5,071 |  | 3,361 |
Gross loans | 3,046,226 |  | 2,862,534 |
Allowance for loan losses | (19,730 | ) | (19,251 | )
Net loans | $ | 3,026,496 |  | $ | 2,843,283 |
Construction loans of $14.2 million and $13.1 million are included within residential real estate loans at December 31, 2016 and December 31, 2015, respectively. Construction loans of $12.8 million and $12.6 million are included within commercial real estate loans at December 31, 2016 and December 31, 2015, respectively. The Company’s commercial and residential real estate construction loans are primarily secured by real estate within the Company’s principal markets. These loans were originated under the Company’s loan policy, which is focused on the risk characteristics of the loan portfolio, including construction loans. Adequate consideration has been given to these loans in establishing the Company’s allowance for loan losses. The following table details the loans acquired in conjunction with the Virginia Savings, Community and AFB acquisitions (in thousands). These loans were originally underwritten by the acquiree in accordance with the acquiree's underwriting guidelines. As loans come up for renewal, extension, etc., the loans are underwritten in accordance withe the Company's underwriting guidelines and are thus not reflected in the table below.
| Virginia Savings | Community | AFB | Total
December 31, 2016 |  |  |  |
Outstanding loan balance | $ | 23,714 |  | $ | 149,488 |  | $ | 85,120 |  | $ | 258,322 |
Credit-impaired loans: |  |  |  |
Carrying value | 1,700 |  | 8,857 |  | — |  | 10,557 |
Contractual principal and interest | 1,895 |  | 11,157 |  | — |  | 13,052 |
December 31, 2015 |  |  |  |
Outstanding loan balance | $ | 28,914 |  | $ | 181,545 |  | $ | 112,862 |  | $ | 323,321 |
Credit-impaired loans: |  |  |  |
Carrying value | 1,707 |  | 12,899 |  | — |  | 14,606 |
Contractual principal and interest | 1,965 |  | 16,362 |  | — |  | 18,327 |
Changes in the accretable yield and the carrying amount of the purchased credit-impaired loans is as follows (in thousands):
| December 31, 2016 | December 31, 2015
| Accretable Yield | Carrying Amount of Loans | Accretable Yield | Carrying Amount of Loans
Balance at the beginning of the period | $ | 6,640 |  | $ | 14,606 |  | $ | 10,334 |  | $ | 17,329 |
Accretion | (1,061 | ) | 1,061 |  | (2,665 | ) | 2,665 |
Reclassifications to/from accretable from/to non-accretable difference, net | (145 | ) | — |  | 1,103 |  | — |
Payments received, net | — |  | (4,376 | ) | — |  | (3,369 | )
Disposals | (425 | ) | (734 | ) | (2,132 | ) | (2,019 | )
Balance at the end of period | $ | 5,009 |  | $ | 10,557 |  | $ | 6,640 |  | $ | 14,606 |
Increases in expected cash flow subsequent to the acquisition are recognized first as a reduction of any previous impairment, then prospectively through adjustment of the yield on the loans or pools over its remaining life, while decreases in expected cash flows are recognized as impairment through a provision for loan loss and an increase in the allowance for purchased credit-impaired loans.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66008989&loc=d3e5066-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(6)) -URI http://asc.fasb.org/extlink&oid=6488278&loc=d3e603758-122996 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=66008989&loc=d3e5162-111524 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(5)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=66008989&loc=d3e5074-111524 + Details
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