Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2015

Aggregate Activity in Allowance for Loan Losses

The following table presents the aggregate activity in the allowance for loan losses in the periods indicated:


	Allowance Excluding PCI Loans			Allowance for PCI Loans			Total Allowance
(Amounts in thousands)
Three months ended March 31, 2014
Beginning balance	$	23,322		$	755		$	24,077
Provision for (recovery of) loan losses		1,852			(262	)		1,590
Benefit attributable to the FDIC indemnification asset		—			203			203

Provision for (recovery of) loan losses charged to operations		1,852			(59	)		1,793
Recovery of loan losses recorded through the FDIC indemnification asset		—			(203	)		(203	)
Charge-offs		(2,216	)		—			(2,216	)
Recoveries		347			—			347

Net charge-offs		(1,869	)		—			(1,869	)

Ending balance	$	23,305		$	493		$	23,798

Three months ended March 31, 2015
Beginning balance	$	20,169		$	58		$	20,227
Provision for loan losses		1,090			56			1,146
Benefit attributable to the FDICindemnification asset		—			(46	)		(46	)

Provision for loan losses charged to operations		1,090			10			1,100
Provision for loan losses recorded through the FDIC indemnification asset		—			46			46
Charge-offs		(1,578	)		—			(1,578	)
Recoveries		457			—			457

Net charge-offs		(1,121	)		—			(1,121	)

Ending balance	$	20,138		$	114		$	20,252

Allowance for Loan Losses and Recorded Investment in Loans, Evaluated for Impairment Excluding PCI Loans, by Loan Class

The following tables present the Company’s allowance for loan losses and recorded investment in loans evaluated for impairment, excluding PCI loans, by loan class, as of the dates indicated:


	March 31, 2015
(Amounts in thousands)	Loans Individually Evaluated for Impairment		Allowance for Loans Individually Evaluated		Loans Collectively Evaluated for Impairment		Allowance for Loans Collectively Evaluated
Commercial loans
Construction, development, and other land	$	—	$	—	$	47,281	$	1,253
Commercial and industrial		—		—		80,480		541
Multi-family residential		—		—		97,803		1,772
Single family non-owner occupied		828		40		136,621		3,103
Non-farm, non-residential		12,881		1,198		460,597		4,949
Agricultural		—		—		1,713		13
Farmland		—		—		29,341		185

Total commercial loans		13,709		1,238		853,836		11,816
Consumer real estate loans
Home equity lines		—		—		131,002		1,290
Single family owner occupied		6,060		517		494,584		4,404
Owner occupied construction		—		—		35,503		235

Total consumer real estate loans		6,060		517		661,089		5,929
Consumer and other loans
Consumer loans		—		—		69,169		638
Other		—		—		7,236		—

Total consumer and other loans		—		—		76,405		638

Total loans, excluding PCI loans	$	19,769	$	1,755	$	1,591,330	$	18,383


	December 31, 2014
(Amounts in thousands)	Loans Individually Evaluated for Impairment		Allowance for Loans Individually Evaluated		Loans Collectively Evaluated for Impairment		Allowance for Loans Collectively Evaluated
Commercial loans
Construction, development, and other land	$	—	$	—	$	51,608	$	1,151
Commercial and industrial		—		—		85,353		690
Multi-family residential		—		—		98,880		1,917
Single family non-owner occupied		833		45		135,223		3,183
Non-farm, non-residential		9,477		1,000		475,353		4,805
Agricultural		—		—		1,642		13
Farmland		—		—		30,233		206

Total commercial loans		10,310		1,045		878,292		11,965
Consumer real estate loans
Home equity lines		—		—		134,006		1,330
Single family owner occupied		5,738		437		489,820		4,498
Owner occupied construction		—		—		32,983		224

Total consumer real estate loans		5,738		437		656,809		6,052
Consumer and other loans
Consumer loans		—		—		69,429		670
Other		—		—		6,555		—

Total consumer and other loans		—		—		75,984		670

Total loans, excluding PCI loans	$	16,048	$	1,482	$	1,611,085	$	18,687

Allowance Excluding Purchased Credit Impaired

Aggregate Activity in Allowance for Loan Losses

The following table presents the components of the activity in the allowance for loan losses, excluding PCI loans, by loan segment, in the periods indicated:


	Commercial			Consumer Real Estate			Consumer and Other			Total
(Amounts in thousands)
Three months ended March 31, 2014
Beginning balance	$	16,090		$	6,597		$	635		$	23,322
Provision for loan losses charged to operations		1,218			485			149			1,852
Loans charged off		(1,051	)		(710	)		(455	)		(2,216	)
Recoveries credited to allowance		82			21			244			347

Net charge-offs		(969	)		(689	)		(211	)		(1,869	)

Ending balance	$	16,339		$	6,393		$	573		$	23,305

Three months ended March 31, 2015
Beginning balance	$	13,010		$	6,489		$	670		$	20,169
Provision for loan losses charged to operations		650			215			225			1,090
Loans charged off		(681	)		(402	)		(495	)		(1,578	)
Recoveries credited to allowance		75			144			238			457

Net chargeoffs		(606	)		(258	)		(257	)		(1,121	)

Ending balance	$	13,054		$	6,446		$	638		$	20,138

Purchased Credit Impaired

Aggregate Activity in Allowance for Loan Losses

The following table presents the components of the activity in the allowance for loan losses for PCI loans, by loan segment, in the periods indicated:

	Commercial			Consumer Real Estate			Consumer and Other		Total
(Amounts in thousands)
Three months ended March 31, 2014
Beginning balance	$	77		$	678		$	—	$	755
Purchased impaired recovery		(69	)		(193	)		—		(262	)
Benefit attributable to FDIC indemnification asset		55			148			—		203

Recovery of loan losses charged to operations		(14	)		(45	)		—		(59	)
Recovery of loan losses recorded through the FDIC indemnification asset		(55	)		(148	)		—		(203	)

Ending balance	$	8		$	485		$	—	$	493

Three months ended March 31, 2015
Beginning balance	$	37		$	21		$	—	$	58
Purchased impaired (recovery) provision		(37	)		93			—		56
Benefit attributable to FDIC indemnification asset		29			(75	)		—		(46	)

(Recovery of) provision for loan losses charged to operations		(8	)		18			—		10
(Recovery of) provision for loan losses recorded through the FDIC indemnification asset		(29	)		75			—		46

Ending balance	$	—		$	114		$	—	$	114

Allowance for Loan Losses Related to PCI Loans and Recorded Investment in Loans

The following table presents the Company’s allowance for loan losses related to PCI loans and recorded investment in PCI loans, by loan pool, as of the dates indicated:


	March 31, 2015				December 31, 2014
(Amounts in thousands)	Loan Pools		Allowance for Loan Pools With Impairment		Loan Pools		Allowance for Loan Pools With Impairment
Commercial loans
Waccamaw commercial	$	13,210	$	—	$	13,392	$	37
Waccamaw lines of credit		429		—		461		—
Peoples commercial		5,753		—		5,875		—
Other		1,332		—		1,358		—

Total commercial loans		20,724		—		21,086		37
Consumer real estate loans
Waccamaw serviced home equity lines		35,571		—		37,342		—
Waccamaw residential		2,439		94		2,638		—
Peoples residential		1,201		20		1,215		21

Total consumer real estate loans		39,211		114		41,195		21
Consumer and other loans
Waccamaw consumer		—		—		2		—

Total loans	$	59,935	$	114	$	62,283	$	58