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LOANS AND CREDIT QUALITY (Tables)

9 Months Ended

Sep. 30, 2020

Receivables [Abstract]

Schedule of loans and leases, excluding loans held for sale

Loans, excluding loans held for sale, net of ACL under ASC 326 as of September 30, 2020 and loans, excluding loans held for sale, net of ACL under previous GAAP as of December 31, 2019 consisted of the following:

(dollars in thousands)			September 30, 2020						December 31, 2019
Commercial, financial and agricultural:
Small Business Administration Paycheck Protection Program			$	545,277					$	—
Other			526,363						570,089
Real estate:
Construction			118,519						96,139
Residential mortgage			1,676,457						1,595,801
Home equity			533,139						490,239
Commercial mortgage			1,143,209						1,124,911
Consumer			500,416						569,516
Gross loans			5,043,380						4,446,695
Net deferred (fees) costs			(12,754)						2,845
Total loans, net of deferred fees and costs			5,030,626						4,449,540
Allowance for credit losses			(80,542)						(47,971)
Total loans, net of allowance for credit losses			$	4,950,084					$	4,401,569

Financing Receivable, Purchased With Credit Deterioration

The following table presents loans purchased by class for the periods presented:

(dollars in thousands)			Consumer - Unsecured
Three Months Ended September 30, 2020
Purchases:
Outstanding balance			$	6,960
Purchase premium (discount)			(280)
Purchase price			$	6,680
Nine Months Ended September 30, 2020
Purchases:
Outstanding balance			$	41,272
Purchase premium (discount)			(1,396)
Purchase price			$	39,876
Three Months Ended September 30, 2019
Purchases:
Outstanding balance			$	30,669
Purchase premium (discount)			(1,176)
Purchase price			$	29,493
Nine Months Ended September 30, 2019
Purchases:
Outstanding balance			$	79,996
Purchase premium (discount)			(1,176)
Purchase price			$	78,820
Note: Purchases of unsecured consumer loans were made under forward flow purchase agreements.

Financing Receivable, Collateral-Dependent

The following table presents the amortized cost basis of collateral-dependent loans by class, which are individually evaluated to determine expected credit losses, and the related ACL allocated to these loans as of September 30, 2020:

(dollars in thousands)			Secured by 1-4 Family Residential Properties						Secured by Nonfarm Nonresidential Properties						Secured by Real Estate and Business Assets												Total						Allocated ACL
September 30, 2020
Commercial, financial and agricultural			$	—					$	—					$	1,371											$	1,371					$	213
Real estate:
Residential mortgage			9,210						—						—												9,210						—
Home equity			533						—						—												533						—
Commercial mortgage			—						7,558						—												7,558						307
Total			$	9,743					$	7,558					$	1,371											$	18,672					$	520

Schedule of impaired loans, by class

									December 31, 2019
(dollars in thousands)																					Unpaid Principal Balance						Recorded Investment						ALLL Allocated
Impaired loans:
Commercial, financial and agricultural																					$	246					$	135					$	—
Real estate:
Residential mortgage																					7,230						6,516						—
Home equity																					92						92						—
Commercial mortgage																					1,839						1,839						—
Total																					9,407						8,582						—
Impaired loans with an ACL recorded:
Commercial, financial and agricultural																					467						467						218
Consumer																					17						17						17
Total																					484						484						235
Total impaired loans																					$	9,891					$	9,066					$	235

Schedule of average recorded investment and interest income recognized on impaired loans, by class

The following table presents by class, the average recorded investment and interest income recognized on impaired loans for the three and nine months ended September 30, 2019, as determined in accordance with ASC 310 prior to the adoption of ASU 2016-13:

									Three Months Ended																					Nine Months Ended
									September 30, 2019																		September 30, 2019
(dollars in thousands)															Average Recorded Investment						Interest Income Recognized																		Average Recorded Investment						Interest Income Recognized
Commercial, financial and agricultural															$	164					$	2																	$	188					$	7
Real estate:
Construction															—						—																		1,323						62
Residential mortgage															7,536						63																		8,763						776
Home equity															190						—																		332						13
Commercial mortgage															2,021						22																		2,162						68
Total															$	9,911					$	87																	$	12,768					$	926

Schedule of aging of the recorded investment in past due loans and leases, by class

The following tables present by class, the aging of the recorded investment in past due loans as of September 30, 2020 and December 31, 2019. The following tables also present the amortized cost of loans on nonaccrual status for which there was no related ACL under ASC 326 as of September 30, 2020 and under previous GAAP as of December 31, 2019.

(dollars in thousands)			Accruing Loans 30 - 59 Days Past Due						Accruing Loans 60 - 89 Days Past Due						Accruing Loans Greater  Than 90 Days Past Due						Nonaccrual Loans						Total Past Due and Nonaccrual						Loans and Leases Not Past Due						Total						Nonaccrual Loans With No ACL
September 30, 2020
Commercial, financial and agricultural - SBA PPP			$	—					$	—					$	—					$	—					$	—					$	528,581					$	528,581					$	—
Commercial, financial and agricultural - Other			5,246						85						—						1,536						6,867						521,203						528,070						668
Real estate:
Construction			—						—						—						—						—						118,247						118,247						—
Residential mortgage			12						556						588						4,032						5,188						1,674,872						1,680,060						4,032
Home equity			255						—						—						533						788						533,268						534,056						533
Commercial mortgage			1,778						—						—						6,889						8,667						1,132,598						1,141,265						4,296
Consumer			1,774						691						321						69						2,855						497,492						500,347						—
Total			$	9,065					$	1,332					$	909					$	13,059					$	24,365					$	5,006,261					$	5,030,626					$	9,529

(dollars in thousands)			Accruing Loans 30 - 59 Days Past Due						Accruing Loans 60 - 89 Days Past Due						Accruing Loans Greater  Than 90 Days Past Due						Nonaccrual Loans						Total Past Due and Nonaccrual						Loans and Leases Not Past Due						Total						Nonaccrual Loans With No ALLL
December 31, 2019
Commercial, financial and agricultural			$	476					$	865					$	—					$	467					$	1,808					$	568,496					$	570,304					$	—
Real estate:
Construction			643						—						—						—						643						95,211						95,854						—
Residential mortgage			1,830						589						724						979						4,122						1,595,679						1,599,801						979
Home equity			759						207						—						92						1,058						489,676						490,734						92
Commercial mortgage			—						397						—						—						397						1,123,018						1,123,415						—
Consumer			3,223						943						286						17						4,469						564,963						569,432						—
Total			$	6,931					$	3,001					$	1,010					$	1,555					$	12,497					$	4,437,043					$	4,449,540					$	1,071

Schedule Of Debt Instrument, Deferrals

The following table sets forth loans on active payment forbearance or deferral as of September 30, 2020:

(dollars in thousands)			Loan Count						Balance						Accrued Interest Receivable						Total Loans						% of Total Loans						Total Loans, excl. PPP						% of Total Loans, excl. PPP
Commercial, financial and agricultural			363						$	64,298					$	844					$	1,056,651					6.1		%				$	528,070					12.2		%
Real estate:
Construction			—						—						—						118,247						—		%				118,247						—		%
Residential mortgage			216						103,130						1,803						1,680,060						6.1		%				1,680,060						6.1		%
Home equity			—						—						—						534,056						—		%				534,056						—		%
Commercial mortgage			25						69,420						469						1,141,265						6.1		%				1,141,265						6.1		%
Consumer			3,209						53,993						1,323						500,347						10.8		%				500,347						10.8		%
Total loans			3,813						$	290,841					$	4,439					$	5,030,626					5.8		%				$	4,502,045					6.5		%

Schedule of information related to loans modified in a TDR, by class

The following table presents by class, information related to loans modified in a TDR during the three and nine months ended September 30, 2020:

(dollars in thousands)			Number of Contracts						Recorded Investment (as of Period End)						Increase in the ACL
Three Months Ended September 30, 2020
Consumer			3						80						—
Total			3						$	80					$	—
Nine Months Ended September 30, 2020
Real estate: Commercial mortgage			1						$	281					$	—
Consumer			11						214						—
Total			12						$	495					$	—

Schedule of recorded investment in loans and leases, by class and credit indicator

The following table presents the amortized cost basis of the Company's loans by class, credit quality indicator and origination year as of September 30, 2020. Revolving loans converted to term as of and during the three and nine months ended September 30, 2020 were not material to the total loan portfolio.

			Amortized Cost of Term Loans by Origination Year
(dollars in thousands)			2020						2019						2018						2017						2016						Prior						Amortized Cost of Revolving Loans						Total
September 30, 2020
Commercial, financial and agricultural - SBA PPP:
Risk Rating
Pass			$	528,581					$	—					$	—					$	—					$	—					$	—					$	—					$	528,581
Subtotal			528,581						—						—						—						—						—						—						528,581
Commercial, financial and agricultural - Other:
Risk Rating
Pass			68,156						63,398						60,700						43,948						41,585						91,001						78,224						447,012
Special Mention			4,958						11,714						8,784						31,839						2,123						13,757						420						73,595
Substandard			200						1,528						1,111						1,105						2,206						1,313						—						7,463
Subtotal			73,314						76,640						70,595						76,892						45,914						106,071						78,644						528,070
Construction:
Risk Rating
Pass			19,436						20,931						41,893						11,201						2,202						19,238						2,401						117,302
Special Mention			—						—						945						—						—						—						—						945
Subtotal			19,436						20,931						42,838						11,201						2,202						19,238						2,401						118,247
Residential mortgage:
Risk Rating
Pass			416,073						302,683						141,156						159,808						197,665						456,398						—						1,673,783
Special Mention			—						—						—						1,437						147						—						—						1,584
Substandard			—						—						540						1,328						884						1,941						—						4,693
Loss			—						—						—						—						—						—						—						—
Subtotal			416,073						302,683						141,696						162,573						198,696						458,339						—						1,680,060
Home equity:
Risk Rating
Pass			13,407						16,993						16,713						778						390						4,794						480,238						533,313
Special Mention			—						—						—						—						—						—						210						210
Substandard			—						—						—						—						204						329						—						533
Subtotal			13,407						16,993						16,713						778						594						5,123						480,448						534,056
Commercial mortgage:
Risk Rating
Pass			93,195						149,180						137,886						163,112						108,333						365,488						16,926						1,034,120
Special Mention			—						2,602						24,134						7,685						13,623						24,137						—						72,181
Substandard			—						2,593						11,500						1,998						4,296						14,577						—						34,964
Subtotal			93,195						154,375						173,520						172,795						126,252						404,202						16,926						1,141,265
Consumer:
Risk Rating
Pass			72,249						133,485						77,840						52,150						21,327						71,599						71,057						499,707
Special Mention			—						—						—						—						—						—						250						250
Substandard			27						11						40						9						1						168						—						256
Loss			15						—						—						49						—						70						—						134
Subtotal			72,291						133,496						77,880						52,208						21,328						71,837						71,307						500,347
Total			$	1,216,297					$	705,118					$	523,242					$	476,447					$	394,986					$	1,064,810					$	649,726					$	5,030,626

The following tables present the Company's loans by class and credit quality indicator as of September 30, 2020 and December 31, 2019:

(dollars in thousands)			Pass						Special Mention						Substandard						Loss						Subtotal						Net  Deferred Costs (Income)						Total
September 30, 2020
Commercial, financial and agricultural: SBA PPP			$	545,277					$	—					$	—					$	—					$	545,277					$	(16,696)					$	528,581
Commercial, financial and agricultural: Other			445,305						73,595						7,463						—						526,363						1,707						528,070
Real estate:
Construction			117,574						945						—						—						118,519						(272)						118,247
Residential mortgage			1,670,180						1,584						4,693						—						1,676,457						3,603						1,680,060
Home equity			532,396						210						533						—						533,139						917						534,056
Commercial mortgage			1,036,064						72,181						34,964						—						1,143,209						(1,944)						1,141,265
Consumer			499,776						250						256						134						500,416						(69)						500,347
Total			$	4,846,572					$	148,765					$	47,909					$	134					$	5,043,380					$	(12,754)					$	5,030,626

(dollars in thousands)			Pass						Special Mention						Substandard						Loss						Subtotal						Net  Deferred Costs (Income)						Total
December 31, 2019
Commercial, financial and agricultural: Other			$	523,342					$	20,677					$	26,070					$	—					$	570,089					$	215					$	570,304
Real estate:
Construction			96,139						—						—						—						96,139						(285)						95,854
Residential mortgage			1,593,072						840						1,889						—						1,595,801						4,000						1,599,801
Home equity			490,147						—						92						—						490,239						495						490,734
Commercial mortgage			1,094,364						17,440						13,107						—						1,124,911						(1,496)						1,123,415
Consumer			569,212						—						193						111						569,516						(84)						569,432
Total			$	4,366,276					$	38,957					$	41,351					$	111					$	4,446,695					$	2,845					$	4,449,540

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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.

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