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Loans | 9 Months Ended
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Sep. 30, 2012
Loans and Allowance for Loan Losses and Credit Quality Indicators [Abstract] |
Loans | Note 5. Loans Loan Portfolio Loans, net of unearned income, consisted of the following at September 30, 2012, and December 31, 2011:
|  | September 30, 2012 |  |  | December 31, 2011 |
(Amounts in thousands) |  | Amount |  |  | Percent |  |  | Amount |  |  | Percent |
Covered loans |  | $ | 221,977 |  |  |  | 12.59 | % |  | $ | — |  |  |  | 0.00 | %
Non-covered loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, development, and other land |  |  | 62,030 |  |  |  | 3.52 | % |  |  | 61,768 |  |  |  | 4.42 | %
Commercial and industrial |  |  | 97,422 |  |  |  | 5.52 | % |  |  | 91,939 |  |  |  | 6.58 | %
Multi-family residential |  |  | 75,756 |  |  |  | 4.30 | % |  |  | 77,050 |  |  |  | 5.52 | %
Single family non-owner occupied |  |  | 135,346 |  |  |  | 7.67 | % |  |  | 106,743 |  |  |  | 7.65 | %
Non-farm, non-residential |  |  | 449,359 |  |  |  | 25.48 | % |  |  | 336,005 |  |  |  | 24.07 | %
Agricultural |  |  | 1,474 |  |  |  | 0.08 | % |  |  | 1,374 |  |  |  | 0.10 | %
Farmland |  |  | 36,735 |  |  |  | 2.08 | % |  |  | 37,161 |  |  |  | 2.66 | %
Total commercial loans |  |  | 858,122 |  |  |  | 48.65 | % |  |  | 712,040 |  |  |  | 51.00 | %
Consumer real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines |  |  | 111,877 |  |  |  | 6.34 | % |  |  | 111,387 |  |  |  | 7.98 | %
Single family owner occupied |  |  | 474,985 |  |  |  | 26.93 | % |  |  | 473,067 |  |  |  | 33.89 | %
Owner occupied construction |  |  | 15,076 |  |  |  | 0.86 | % |  |  | 19,577 |  |  |  | 1.40 | %
Total consumer real estate loans |  |  | 601,938 |  |  |  | 34.13 | % |  |  | 604,031 |  |  |  | 43.27 | %
Consumer and other loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer loans |  |  | 76,004 |  |  |  | 4.31 | % |  |  | 67,129 |  |  |  | 4.81 | %
Other |  |  | 5,569 |  |  |  | 0.32 | % |  |  | 12,867 |  |  |  | 0.92 | %
Total consumer and other loans |  |  | 81,573 |  |  |  | 4.63 | % |  |  | 79,996 |  |  |  | 5.73 | %
Total non-covered loans |  |  | 1,541,633 |  |  |  | 87.41 | % |  |  | 1,396,067 |  |  |  | 100.00 | %
Total loans held for investment, net of unearned income |  | $ | 1,763,610 |  |  |  | 100.00 | % |  | $ | 1,396,067 |  |  |  | 100.00 | %
Loans held for sale |  | $ | 4,446 |  |  |  |  |  |  | $ | 5,820 |  |  |  |  |
Covered loans held for investment consisted of the following at September 30, 2012.
(Amounts in thousands) |  | September 30, 2012 |
Covered loans |  |  |  |
Commercial loans |  |  |  |
Construction, development, and other land |  | $ | 28,885 |
Commercial and industrial |  |  | 6,976 |
Multi-family residential |  |  | 3,559 |
Non-farm, non-residential |  |  | 50,723 |
Agricultural |  |  | 308 |
Farmland |  |  | 1,334 |
Total commercial loans |  |  | 91,785 |
Consumer real estate loans |  |  |  |
Home equity lines |  |  | 87,358 |
Single family owner occupied |  |  | 36,459 |
Owner occupied construction |  |  | 1,982 |
Total consumer real estate loans |  |  | 125,799 |
Consumer and other loans |  |  |  |
Consumer loans |  |  | 4,393 |
Total covered loans |  | $ | 221,977 |
See Note 11, “Commitments and Contingencies,” for information concerning the Company’s off-balance sheet credit risk related to lending activities. Acquired Impaired Loans When the fair value of acquired loans are established, certain loans are identified as impaired. The Company has estimated the cash flows to be collected on the acquired impaired loans and discounted those cash flows at a market rate of interest. The following tables present changes in the carrying balance of acquired impaired loans and activity within those loans during the periods indicated.
|  | Nine Months Ended September 30, 2012 |
(Amounts in thousands) |  | Peoples |  |  | Waccamaw |  |  | Other |  |  | Total |
Balance, January 1 |  | $ | — |  |  | $ | — |  |  | $ | 2,886 |  |  | $ | 2,886 |
Balance, September 30 |  | $ | 30,898 |  |  | $ | 115,125 |  |  | $ | 2,314 |  |  | $ | 148,337 |
(Amounts in thousands) |  | Nine Months Ended September 30, 2011 |
Balance, January 1 |  | $ | 3,221 |
Balance, September 30 |  | $ | 2,865 |
The outstanding balance of acquired impaired loans was $220.07 million at September 30, 2012, $7.71 million at December 31, 2011, and $7.75 million at September 30, 2011. The following tables present changes in the accretable yield during the periods indicated:
|  | Nine Months Ended September 30, 2012 |
(Amounts in thousands) |  | Peoples |  |  | Waccamaw |  |  | Other |  |  | Total |
Balance, January 1 |  | $ | — |  |  | $ | — |  |  | $ | 919 |  |  | $ | 919 |
Additions |  |  | 3,400 |  |  |  | 26,481 |  |  |  | — |  |  |  | 29,881 |
Accretion |  |  | (399 | ) |  |  | (1,491 | ) |  |  | (1,198 | ) |  |  | (3,088 | )
Reclassifications from nonaccretable difference |  |  | — |  |  |  | — |  |  |  | 139 |  |  |  | 139 |
Disposals |  |  | 77 |  |  |  | 108 |  |  |  | 161 |  |  |  | 346 |
Balance, September 30 |  | $ | 3,078 |  |  | $ | 25,098 |  |  | $ | 21 |  |  | $ | 28,197 |
(Amounts in thousands) |  | Nine Months Ended September 30, 2011 |
Balance, January 1 |  | $ | 944 |
Accretion |  |  | (13 | )
Reclassifications from nonaccretable difference |  |  | — |
Disposals |  |  | — |
Balance, September 30 |  | $ | 931 |

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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 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 4 -Article 5 Reference 3: 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=7512638&loc=d3e5074-111524 Reference 4: 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=7512638&loc=d3e5162-111524 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 01-6 -Paragraph 13 -Subparagraph d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: 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=7512638&loc=d3e5066-111524 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 7 -Article 9 + Details
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