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Loans and Allowance for Credit Losses | 12 Months Ended
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Dec. 31, 2015
Loans and Leases Receivable Disclosure [Abstract] |
Loans and Allowance for Credit Losses | Loans and Allowance for Credit Losses The following table provides outstanding balances related to each of our loan types as of December 31:
| 2015 |  | 2014
| (dollars in thousands)
Commercial, financial, agricultural and other | $ | 1,150,906 |  |  | $ | 1,052,109 |
Real estate construction | 220,736 |  |  | 120,785 |
Residential real estate | 1,224,465 |  |  | 1,226,344 |
Commercial real estate | 1,479,000 |  |  | 1,405,256 |
Loans to individuals | 608,643 |  |  | 652,814 |
Total loans and leases net of unearned income | $ | 4,683,750 |  |  | $ | 4,457,308 |
Credit Quality Information As part of the on-going monitoring of credit quality within the loan portfolio, the following credit worthiness categories are used in grading our loans:
Pass |  | Acceptable levels of risk exist in the relationship. Includes all loans not adversely classified as OAEM, substandard or doubtful.
Other Assets Especially Mentioned (OAEM) |  | Potential weaknesses that deserve management’s close attention. The potential weaknesses may result in deterioration of the repayment prospects or weaken the Bank’s credit position at some future date. The credit risk may be relatively minor, yet constitute an undesirable risk in light of the circumstances surrounding the specific credit. No loss of principal or interest is expected.
Substandard |  | Well-defined weakness or a weakness that jeopardizes the repayment of the debt. A loan may be classified as substandard as a result of deterioration of the borrower’s financial condition and repayment capacity. Loans for which repayment plans have not been met or collateral equity margins do not protect the Company may also be classified as substandard.
Doubtful |  | Loans with the characteristics of substandard loans with the added characteristic that collection or liquidation in full, on the basis of presently existing facts and conditions, is highly improbable.
The use of creditworthiness categories to grade loans permits management’s use of migration analysis to estimate a portion of credit risk. The Company’s internal creditworthiness grading system provides a measurement of credit risk based primarily on an evaluation of the borrower’s cash flow and collateral. Movements between these rating categories provide a predictive measure of credit losses and therefore assists in determining the appropriate level for the loan loss reserves. Category ratings are reviewed each quarter, at which time management analyzes the results, as well as other external statistics and factors related to loan performance. Loans that migrate towards higher risk rating levels generally have an increased risk of default, whereas loans that migrate toward lower risk ratings generally will result in a lower risk factor being applied to those related loan balances. The following tables represent our credit risk profile by creditworthiness category for the years ended December 31:
| 2015
| Commercial, financial, agricultural and other |  | Real estate construction |  | Residential real estate |  | Commercial real estate |  | Loans to individuals |  | Total
| (dollars in thousands)
Pass | $ | 1,074,858 |  |  | $ | 220,267 |  |  | $ | 1,209,606 |  |  | $ | 1,436,714 |  |  | $ | 608,342 |  |  | $ | 4,549,787 |
Non-Pass |  |  |  |  |  |  |  |  |  |  |
OAEM | 11,825 |  |  | 442 |  |  | 5,244 |  |  | 30,012 |  |  | — |  |  | 47,523 |
Substandard | 64,223 |  |  | 27 |  |  | 9,615 |  |  | 12,274 |  |  | 301 |  |  | 86,440 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Non-Pass | 76,048 |  |  | 469 |  |  | 14,859 |  |  | 42,286 |  |  | 301 |  |  | 133,963 |
Total | $ | 1,150,906 |  |  | $ | 220,736 |  |  | $ | 1,224,465 |  |  | $ | 1,479,000 |  |  | $ | 608,643 |  |  | $ | 4,683,750 |
| 2014
| Commercial, financial, agricultural and other |  | Real estate construction |  | Residential real estate |  | Commercial real estate |  | Loans to individuals |  | Total
| (dollars in thousands)
Pass | $ | 983,357 |  |  | $ | 112,536 |  |  | $ | 1,214,920 |  |  | $ | 1,353,773 |  |  | $ | 652,596 |  |  | $ | 4,317,182 |
Non-Pass |  |  |  |  |  |  |  |  |  |  |
OAEM | 32,563 |  |  | 8,013 |  |  | 2,315 |  |  | 29,479 |  |  | — |  |  | 72,370 |
Substandard | 32,028 |  |  | 236 |  |  | 9,109 |  |  | 22,004 |  |  | 218 |  |  | 63,595 |
Doubtful | 4,161 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,161 |
Total Non-Pass | 68,752 |  |  | 8,249 |  |  | 11,424 |  |  | 51,483 |  |  | 218 |  |  | 140,126 |
Total | $ | 1,052,109 |  |  | $ | 120,785 |  |  | $ | 1,226,344 |  |  | $ | 1,405,256 |  |  | $ | 652,814 |  |  | $ | 4,457,308 |
The change in the amount of OAEM and Substandard loans at December 31, 2015 compared to December 31, 2014 is primarily the result of two commercial industrial borrowers that migrated from OAEM to non-accrual status during 2015. Additional details on these loans are provided on page 75. Portfolio Risks The credit quality of our loan portfolio can potentially represent significant risk to our earnings, capital, regulatory agency relationships, investment community and shareholder returns. First Commonwealth devotes a substantial amount of resources managing this risk primarily through our credit administration department that develops and administers policies and procedures for underwriting, maintaining, monitoring and collecting activities. Credit administration is independent of lending departments and oversight is provided by the credit committee of the First Commonwealth Board of Directors. Total gross charge-offs for the years ended December 31, 2015 and 2014 were $18.9 million and $17.5 million, respectively. Criticized loans have been evaluated when determining the appropriateness of the allowance for credit losses, which we believe is adequate to absorb losses inherent to the portfolio as of December 31, 2015. However, changes in economic conditions, interest rates, borrower financial condition, delinquency trends or previously established fair values of collateral factors could significantly change those judgmental estimates. Age Analysis of Past Due Loans by Segment The following tables delineate the aging analysis of the recorded investments in past due loans as of December 31. Also included in these tables are loans that are 90 days or more past due and still accruing because they are well-secured and in the process of collection.
| 2015
| 30 - 59 days past due |  | 60 - 89 days past due |  | 90 days and greater and still accruing |  | Nonaccrual |  | Total past due and nonaccrual |  | Current |  | Total
| (dollars in thousands)
Commercial, financial, agricultural and other | $ | 364 |  |  | $ | 49 |  |  | $ | 129 |  |  | $ | 23,653 |  |  | $ | 24,195 |  |  | $ | 1,126,711 |  |  | $ | 1,150,906 |
Real estate construction | 280 |  |  | — |  |  | — |  |  | 28 |  |  | 308 |  |  | 220,428 |  |  | 220,736 |
Residential real estate | 4,175 |  |  | 1,055 |  |  | 1,315 |  |  | 6,500 |  |  | 13,045 |  |  | 1,211,420 |  |  | 1,224,465 |
Commercial real estate | 781 |  |  | — |  |  | 65 |  |  | 6,223 |  |  | 7,069 |  |  | 1,471,931 |  |  | 1,479,000 |
Loans to individuals | 2,998 |  |  | 774 |  |  | 946 |  |  | 301 |  |  | 5,019 |  |  | 603,624 |  |  | 608,643 |
Total | $ | 8,598 |  |  | $ | 1,878 |  |  | $ | 2,455 |  |  | $ | 36,705 |  |  | $ | 49,636 |  |  | $ | 4,634,114 |  |  | $ | 4,683,750 |
| 2014
| 30 - 59 days past due |  | 60 - 89 days past due |  | 90 days and greater and still accruing |  | Nonaccrual |  | Total past due and nonaccrual |  | Current |  | Total
| (dollars in thousands)
Commercial, financial, agricultural and other | $ | 2,816 |  |  | $ | 213 |  |  | $ | 264 |  |  | $ | 27,007 |  |  | $ | 30,300 |  |  | $ | 1,021,809 |  |  | $ | 1,052,109 |
Real estate construction | — |  |  | 1 |  |  | — |  |  | 236 |  |  | 237 |  |  | 120,548 |  |  | 120,785 |
Residential real estate | 5,162 |  |  | 1,295 |  |  | 1,077 |  |  | 7,900 |  |  | 15,434 |  |  | 1,210,910 |  |  | 1,226,344 |
Commercial real estate | 1,797 |  |  | 122 |  |  | — |  |  | 7,306 |  |  | 9,225 |  |  | 1,396,031 |  |  | 1,405,256 |
Loans to individuals | 3,698 |  |  | 1,059 |  |  | 1,278 |  |  | 218 |  |  | 6,253 |  |  | 646,561 |  |  | 652,814 |
Total | $ | 13,473 |  |  | $ | 2,690 |  |  | $ | 2,619 |  |  | $ | 42,667 |  |  | $ | 61,449 |  |  | $ | 4,395,859 |  |  | $ | 4,457,308 |
Nonaccrual Loans The previous tables summarize nonaccrual loans by loan segment. The Company generally places loans on nonaccrual status when the full and timely collection of interest or principal becomes uncertain, when part of the principal balance has been charged off and no restructuring has occurred, or the loans reach a certain number of days past due. Generally, loans 90 days or more past due are placed on nonaccrual status, except for consumer loans which are placed in nonaccrual status at 150 days past due. When a loan is placed on nonaccrual, the accrued unpaid interest receivable is reversed against interest income and all future payments received are applied as a reduction to the loan principal. Generally, the loan is returned to accrual status when (a) all delinquent interest and principal become current under the terms of the loan agreement or (b) the loan is both well-secured and in the process of collection and collectability is no longer doubtful. Impaired Loans Management considers loans to be impaired when, based on current information and events, it is determined that the Company will not be able to collect all amounts due according to the loan contract, including scheduled interest payments. Determination of impairment is treated the same across all loan categories. When management identifies a loan as impaired, the impairment is measured based on the present value of expected future cash flows, discounted at the loan’s effective interest rate, except when the sole source or repayment for the loan is the operation or liquidation of collateral. When the loan is collateral dependent, the appraised value less estimated cost to sell is utilized. If management determines the value of the impaired loan is less than the recorded investment in the loan, impairment is recognized through an allowance estimate or a charge-off to the allowance. Troubled debt restructured loans on accrual status are considered to be impaired loans. When the ultimate collectability of the total principal of an impaired loan is in doubt and the loan is on nonaccrual status, all payments are applied to principal, under the cost recovery method. When the ultimate collectability of the total principal of an impaired loan is not in doubt and the loan is on nonaccrual status, contractual interest is credited to interest income when received, under the cash basis method. There were no impaired loans held for sale at December 31, 2015 and December 31, 2014; sales of impaired loans during the years ended December 31, 2015 and 2014 resulted in gains of $0.4 million and $77 thousand, respectively. Significant nonaccrual loans as of December 31, 2015, included the following:
• | A $7.5 million relationship of commercial industrial loans to an oil and gas well services company. These loans were originated in 2014 and were placed in nonaccrual status during the fourth quarter of 2015. All collateral valuations were completed in June or November of 2015.
• | A $5.6 million relationship of commercial industrial loans to a local energy company. These loans were originated from 2008 to 2011 and were placed in nonaccrual status during the third quarter of 2013. Two of these loans were modified resulting in TDR classification: one loan totaling $2.3 million was modified in 2012, and the other loan totaling $2.9 million was modified in 2014. During the year ended December 31, 2015, chargeoffs of $3.3 million related to this relationship were recorded. A gas reserve study was obtained in March 2015 and was internally updated in December 2015 for adjustments to the pricing forecast and production estimates. All other collateral was valued in November 2015.
• | A $3.9 million relationship of commercial industrial loans to an industrial manufacturer. These loans were originated in 2013 and were placed in nonaccrual status during the third quarter of 2015. Charge-offs of $2.0 million related to this relationship were recognized during the fourth quarter of 2015. A valuation of the collateral was completed during the fourth quarter of 2015.
• | A $3.9 million relationship of commercial industrial loans to a manufacturer of sporting goods. These loans were originated from 2012 to 2015 and were placed in nonaccrual status during the fourth quarter of 2015. A valuation of the collateral was completed during the fourth quarter of 2015.
The following tables include the recorded investment and unpaid principal balance for impaired loans with the associated allowance amount, if applicable, as of December 31, 2015 and 2014. Also presented are the average recorded investment in impaired loans and the related amount of interest recognized while the loan was considered impaired for the years ended December 31, 2015, 2014 and 2013. Average balances are calculated based on month-end balances of the loans for the period reported and are included in the table below based on its period end allowance position.
| 2015
| Recorded investment |  | Unpaid principal balance |  | Related allowance |  | Average recorded investment |  | Interest Income Recognized
| (dollars in thousands)
With no related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural and other | $ | 11,344 |  |  | $ | 15,673 |  |  |  |  | $ | 17,692 |  |  | $ | 216 |
Real estate construction | 28 |  |  | 117 |  |  |  |  | 95 |  |  | — |
Residential real estate | 9,952 |  |  | 11,819 |  |  |  |  | 10,635 |  |  | 172 |
Commercial real estate | 7,562 |  |  | 9,449 |  |  |  |  | 7,890 |  |  | 90 |
Loans to individuals | 421 |  |  | 507 |  |  |  |  | 338 |  |  | 4 |
Subtotal | 29,307 |  |  | 37,565 |  |  |  |  | 36,650 |  |  | 482 |
With an allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural and other | 20,132 |  |  | 22,590 |  |  | $ | 6,952 |  |  | 7,731 |  |  | 129 |
Real estate construction | — |  |  | — |  |  | — |  |  | — |  |  | — |
Residential real estate | 461 |  |  | 672 |  |  | 51 |  |  | 403 |  |  | — |
Commercial real estate | 944 |  |  | 1,008 |  |  | 42 |  |  | 674 |  |  | 4 |
Loans to individuals | — |  |  | — |  |  | — |  |  | — |  |  | — |
Subtotal | 21,537 |  |  | 24,270 |  |  | 7,045 |  |  | 8,808 |  |  | 133 |
Total | $ | 50,844 |  |  | $ | 61,835 |  |  | $ | 7,045 |  |  | $ | 45,458 |  |  | $ | 615 |
| 2014
| Recorded investment |  | Unpaid principal balance |  | Related allowance |  | Average recorded investment |  | Interest Income Recognized
With no related allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural and other | $ | 9,439 |  |  | $ | 10,937 |  |  |  |  | $ | 11,536 |  |  | $ | 133 |
Real estate construction | 236 |  |  | 476 |  |  |  |  | 1,190 |  |  | 19 |
Residential real estate | 10,773 |  |  | 12,470 |  |  |  |  | 11,592 |  |  | 210 |
Commercial real estate | 8,768 |  |  | 10,178 |  |  |  |  | 8,830 |  |  | 98 |
Loans to individuals | 288 |  |  | 337 |  |  |  |  | 308 |  |  | 4 |
Subtotal | 29,504 |  |  | 34,398 |  |  |  |  | 33,456 |  |  | 464 |
With an allowance recorded: |  |  |  |  |  |  |  |  |
Commercial, financial, agricultural and other | 24,826 |  |  | 25,583 |  |  | $ | 9,304 |  |  | 15,797 |  |  | 143 |
Real estate construction | — |  |  | — |  |  | — |  |  | — |  |  | — |
Residential real estate | 367 |  |  | 380 |  |  | 56 |  |  | 357 |  |  | 14 |
Commercial real estate | 554 |  |  | 554 |  |  | 101 |  |  | 184 |  |  | 4 |
Loans to individuals | — |  |  | — |  |  | — |  |  | — |  |  | — |
Subtotal | 25,747 |  |  | 26,517 |  |  | 9,461 |  |  | 16,338 |  |  | 161 |
Total | $ | 55,251 |  |  | $ | 60,915 |  |  | $ | 9,461 |  |  | $ | 49,794 |  |  | $ | 625 |
| 2013
| Average recorded investment |  | Interest Income Recognized
| (dollars in thousands)
With no related allowance recorded: |  |  |
Commercial, financial, agricultural and other | $ | 14,454 |  |  | $ | 73 |
Real estate construction | 5,923 |  |  | 47 |
Residential real estate | 9,280 |  |  | 211 |
Commercial real estate | 27,881 |  |  | 250 |
Loans to individuals | 255 |  |  | 3 |
Subtotal | 57,793 |  |  | 584 |
With an allowance recorded: |  |  |
Commercial, financial, agricultural and other | 16,479 |  |  | 64 |
Real estate construction | 515 |  |  | — |
Residential real estate | 3,200 |  |  | 31 |
Commercial real estate | 188 |  |  | — |
Loans to individuals | — |  |  | — |
Subtotal | 20,382 |  |  | 95 |
Total | $ | 78,175 |  |  | $ | 679 |
Unfunded commitments related to nonperforming loans were $0.1 million and $46 thousand at December 31, 2015 and 2014, respectively. After consideration of available collateral related to these commitments, a reserve of $13 thousand and $14 thousand was established for these off balance sheet exposures at December 31, 2015 and 2014, respectively. Troubled debt restructured loans are those loans whose terms have been renegotiated to provide a reduction or deferral of principal or interest as a result of the financial difficulties experienced by the borrower, who could not obtain comparable terms from alternate financing sources. The following table provides detail as to the total troubled debt restructured loans and total commitments outstanding on troubled debt restructured loans as of December 31:
| 2015 |  | 2014 |  | 2013
| (dollars in thousands)
Troubled debt restructured loans |  |  |  |  |
Accrual status | $ | 14,139 |  |  | $ | 12,584 |  |  | $ | 13,495 |
Nonaccrual status | 12,360 |  |  | 16,952 |  |  | 16,980 |
Total | $ | 26,499 |  |  | $ | 29,536 |  |  | $ | 30,475 |
Commitments |  |  |  |  |
Unused lines of credit | 3,252 |  |  | 4,120 |  |  | 452 |
The following tables provide detail, including specific reserve and reasons for modification, related to loans identified as troubled debt restructurings during the years ending December 31:
| 2015
|  |  | Type of Modification |  |  |  |  |  |  |
| Number of Contracts |  | Extend Maturity |  | Modify Rate |  | Modify Payments |  |  | Total Pre-Modification Outstanding Recorded Investment |  | Post- Modification Outstanding Recorded Investment |  | Specific Reserve
| (dollars in thousands)
Commercial, financial, agricultural and other | 12 |  |  | $ | 1,751 |  |  | $ | 3,195 |  |  | $ | 4,527 |  |  |  | $ | 9,473 |  |  | $ | 8,823 |  |  | $ | 1,330 |
Residential real estate | 32 |  |  | — |  |  | 296 |  |  | 1,414 |  |  |  | 1,710 |  |  | 1,575 |  |  | 2 |
Commercial real estate | 1 |  |  | — |  |  | — |  |  | 464 |  |  |  | 464 |  |  | 389 |  |  | — |
Loans to individuals | 16 |  |  | 3 |  |  | 167 |  |  | 35 |  |  |  | 205 |  |  | 169 |  |  | — |
Total | 61 |  |  | $ | 1,754 |  |  | $ | 3,658 |  |  | $ | 6,440 |  |  |  | $ | 11,852 |  |  | $ | 10,956 |  |  | $ | 1,332 |
| 2014
|  |  | Type of Modification |  |  |  |  |  |  |  |
| Number of Contracts |  | Extend Maturity |  | Modify Rate |  | Modify Payments |  | Other |  | Total Pre-Modification Outstanding Recorded Investment |  | Post- Modification Outstanding Recorded Investment |  | Specific Reserve
| (dollars in thousands)
Commercial, financial, agricultural and other | 9 |  |  | $ | 5,487 |  |  | $ | — |  |  | $ | 14,529 |  |  | $ | — |  |  | $ | 20,016 |  |  | $ | 13,785 |  |  | $ | 4,665 |
Residential real estate | 52 |  |  | — |  |  | 629 |  |  | 1,797 |  |  | — |  |  | 2,426 |  |  | 2,062 |  |  | — |
Commercial real estate | 1 |  |  | — |  |  | — |  |  | 8 |  |  | — |  |  | 8 |  |  | 6 |  |  | — |
Loans to individuals | 15 |  |  | — |  |  | 103 |  |  | 47 |  |  | — |  |  | 150 |  |  | 114 |  |  | — |
Total | 77 |  |  | $ | 5,487 |  |  | $ | 732 |  |  | $ | 16,381 |  |  | $ | — |  |  | $ | 22,600 |  |  | $ | 15,967 |  |  | $ | 4,665 |
| 2013
|  |  | Type of Modification |  |  |  |  |  |  |  |
| Number of Contracts |  | Extend Maturity |  | Modify Rate |  | Modify Payments |  | Other |  | Total Pre-Modification Outstanding Recorded Investment |  | Post- Modification Outstanding Recorded Investment |  | Specific Reserve
| (dollars in thousands)
Commercial, financial, agricultural and other | 14 |  |  | $ | 3,462 |  |  | $ | — |  |  | $ | 1,677 |  |  | $ | — |  |  | $ | 5,139 |  |  | $ | 3,104 |  |  | $ | 906 |
Residential real estate | 46 |  |  | 347 |  |  | 418 |  |  | 2,116 |  |  | — |  |  | 2,881 |  |  | 2,316 |  |  | 161 |
Commercial real estate | 5 |  |  | 571 |  |  | 1,499 |  |  | 145 |  |  | — |  |  | 2,215 |  |  | 2,184 |  |  | 34 |
Loans to individuals | 17 |  |  | 10 |  |  | 101 |  |  | 33 |  |  | — |  |  | 144 |  |  | 109 |  |  | — |
Total | 82 |  |  | $ | 4,390 |  |  | $ | 2,018 |  |  | $ | 3,971 |  |  | $ | — |  |  | $ | 10,379 |  |  | $ | 7,713 |  |  | $ | 1,101 |
The troubled debt restructurings included in the above tables are also included in the impaired loan tables provided earlier in this footnote. Loans defined as modified due to a change in rate include loans that were modified for a change in rate as well as a reamortization of the principal and an extension of the maturity. For the years ended December 31, 2015, 2014 and 2013, $3.7 million, $0.6 million and $2.0 million, respectively, of total rate modifications represent loans with modifications to the rate as well as payment due to reamortization. A troubled debt restructuring is considered to be in default when a restructured loan is 90 days or more past due. The following table provides information related to restructured loans that were considered to be in default during the as of December 31:
| 2015 |  | 2014 |  | 2013
| Number of Contracts |  | Recorded Investment |  | Number of Contracts |  | Recorded Investment |  | Number of Contracts |  | Recorded Investment
| (dollars in thousands)
Residential real estate | 3 |  |  | $ | 97 |  |  | 2 |  |  | $ | 7 |  |  | 1 |  |  | $ | 19 |
Commercial real estate | — |  |  | — |  |  | 1 |  |  | 6 |  |  | — |  |  | — |
Total | 3 |  |  | $ | 97 |  |  | 3 |  |  | $ | 13 |  |  | 1 |  |  | $ | 19 |
The following tables provide detail related to the allowance for credit losses for the years ended December 31. During 2013, the negative $5.9 million provision for credit losses related to the unallocated portion of the allowance is a result of it no longer being treated as a separate component of the allowance but instead is now incorporated into the reserve provided for each loan category. This portion of the allowance for credit losses reflects the qualitative or environmental factors that are likely to cause estimated credit losses to differ from historical loss experience.
| 2015
| Commercial, financial, agricultural and other |  | Real estate construction |  | Residential real estate |  | Commercial real estate |  | Loans to individuals |  | Total
| (dollars in thousands)
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 29,627 |  |  | $ | 2,063 |  |  | $ | 3,664 |  |  | $ | 11,881 |  |  | $ | 4,816 |  |  | $ | 52,051 |
Charge-offs | (11,429 | ) |  | (8 | ) |  | (1,539 | ) |  | (1,538 | ) |  | (4,354 | ) |  | (18,868 | )
Recoveries | 1,097 |  |  | 84 |  |  | 587 |  |  | 229 |  |  | 684 |  |  | 2,681 |
Provision (credit) | 11,740 |  |  | (1,252 | ) |  | (106 | ) |  | 1,352 |  |  | 3,214 |  |  | 14,948 |
Ending Balance | $ | 31,035 |  |  | $ | 887 |  |  | $ | 2,606 |  |  | $ | 11,924 |  |  | $ | 4,360 |  |  | $ | 50,812 |
Ending balance: individually evaluated for impairment | $ | 6,952 |  |  | $ | — |  |  | $ | 51 |  |  | $ | 42 |  |  | $ | — |  |  | $ | 7,045 |
Ending balance: collectively evaluated for impairment | 24,083 |  |  | 887 |  |  | 2,555 |  |  | 11,882 |  |  | 4,360 |  |  | 43,767 |
Loans: |  |  |  |  |  |  |  |  |  |  |
Ending balance | 1,150,906 |  |  | 220,736 |  |  | 1,224,465 |  |  | 1,479,000 |  |  | 608,643 |  |  | 4,683,750 |
Ending balance: individually evaluated for impairment | 30,767 |  |  | — |  |  | 6,099 |  |  | 7,143 |  |  | — |  |  | 44,009 |
Ending balance: collectively evaluated for impairment | 1,120,139 |  |  | 220,736 |  |  | 1,218,366 |  |  | 1,471,857 |  |  | 608,643 |  |  | 4,639,741 |
| 2014
| Commercial, financial, agricultural and other |  | Real estate construction |  | Residential real estate |  | Commercial real estate |  | Loans to individuals |  |  | Total
| (dollars in thousands)
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 22,663 |  |  | $ | 6,600 |  |  | $ | 7,727 |  |  | $ | 11,778 |  |  | $ | 5,457 |  |  |  | $ | 54,225 |
Charge-offs | (8,911 | ) |  | (296 | ) |  | (3,153 | ) |  | (1,148 | ) |  | (3,964 | ) |  |  | (17,472 | )
Recoveries | 734 |  |  | 1,340 |  |  | 650 |  |  | 612 |  |  | 766 |  |  |  | 4,102 |
Provision (credit) | 15,141 |  |  | (5,581 | ) |  | (1,560 | ) |  | 639 |  |  | 2,557 |  |  |  | 11,196 |
Ending Balance | $ | 29,627 |  |  | $ | 2,063 |  |  | $ | 3,664 |  |  | $ | 11,881 |  |  | $ | 4,816 |  |  |  | $ | 52,051 |
Ending balance: individually evaluated for impairment | $ | 9,304 |  |  | $ | — |  |  | $ | 56 |  |  | $ | 101 |  |  | $ | — |  |  |  | $ | 9,461 |
Ending balance: collectively evaluated for impairment | 20,323 |  |  | 2,063 |  |  | 3,608 |  |  | 11,780 |  |  | 4,816 |  |  |  | 42,590 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | 1,052,109 |  |  | 120,785 |  |  | 1,226,344 |  |  | 1,405,256 |  |  | 652,814 |  |  |  | 4,457,308 |
Ending balance: individually evaluated for impairment | 33,332 |  |  | 193 |  |  | 7,127 |  |  | 7,790 |  |  | — |  |  |  | 48,442 |
Ending balance: collectively evaluated for impairment | 1,018,777 |  |  | 120,592 |  |  | 1,219,217 |  |  | 1,397,466 |  |  | 652,814 |  |  |  | 4,408,866 |
| 2013
| Commercial, financial, agricultural and other |  | Real estate construction |  | Residential real estate |  | Commercial real estate |  | Loans to individuals |  | Unallocated |  | Total
| (dollars in thousands)
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 19,852 |  |  | $ | 8,928 |  |  | $ | 5,908 |  |  | $ | 22,441 |  |  | $ | 4,132 |  |  | $ | 5,926 |  |  | $ | 67,187 |
Charge-offs | (18,399 | ) |  | (773 | ) |  | (1,814 | ) |  | (10,513 | ) |  | (3,679 | ) |  | — |  |  | (35,178 | )
Recoveries | 455 |  |  | 501 |  |  | 1,264 |  |  | 136 |  |  | 633 |  |  | — |  |  | 2,989 |
Provision (credit) | 20,755 |  |  | (2,056 | ) |  | 2,369 |  |  | (286 | ) |  | 4,371 |  |  | (5,926 | ) |  | 19,227 |
Ending Balance | $ | 22,663 |  |  | $ | 6,600 |  |  | $ | 7,727 |  |  | $ | 11,778 |  |  | $ | 5,457 |  |  | $ | — |  |  | $ | 54,225 |
Ending balance: individually evaluated for impairment | $ | 7,364 |  |  | $ | 94 |  |  | $ | 1,282 |  |  | $ | 84 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,824 |
Ending balance: collectively evaluated for impairment | 15,299 |  |  | 6,506 |  |  | 6,445 |  |  | 11,694 |  |  | 5,457 |  |  | — |  |  | 45,401 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | 1,021,056 |  |  | 93,289 |  |  | 1,262,718 |  |  | 1,296,472 |  |  | 610,298 |  |  |  |  | 4,283,833 |
Ending balance: individually evaluated for impairment | 27,251 |  |  | 3,844 |  |  | 9,349 |  |  | 12,151 |  |  | — |  |  |  |  | 52,595 |
Ending balance: collectively evaluated for impairment | 993,805 |  |  | 89,445 |  |  | 1,253,369 |  |  | 1,284,321 |  |  | 610,298 |  |  |  |  | 4,231,238 |

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