Loans (Tables)
|
9 Months Ended |
Sep. 30, 2016 |
|---|
| Summary of Loans, Net of Unearned Income |
The following table presents loans, net of unearned income and
disaggregated by class, as of the periods indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
September 30, 2016 |
|
|
December 31, 2015 |
|
| (Amounts in
thousands) |
|
Amount |
|
|
Percent |
|
|
Amount |
|
|
Percent |
|
|
Non-covered loans held for investment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, development, and other land
|
|
$ |
49,799 |
|
|
|
2.71 |
% |
|
$ |
48,896 |
|
|
|
2.86 |
% |
|
Commercial and industrial
|
|
|
90,362 |
|
|
|
4.92 |
% |
|
|
88,903 |
|
|
|
5.21 |
% |
|
Multi-family residential
|
|
|
127,468 |
|
|
|
6.94 |
% |
|
|
95,026 |
|
|
|
5.57 |
% |
|
Single family non-owner occupied
|
|
|
144,023 |
|
|
|
7.84 |
% |
|
|
149,351 |
|
|
|
8.75 |
% |
|
Non-farm, non-residential
|
|
|
596,015 |
|
|
|
32.46 |
% |
|
|
485,460 |
|
|
|
28.45 |
% |
|
Agricultural
|
|
|
5,786 |
|
|
|
0.32 |
% |
|
|
2,911 |
|
|
|
0.17 |
% |
|
Farmland
|
|
|
31,974 |
|
|
|
1.74 |
% |
|
|
27,540 |
|
|
|
1.61 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total commercial loans
|
|
|
1,045,427 |
|
|
|
56.93 |
% |
|
|
898,087 |
|
|
|
52.62 |
% |
|
Consumer real estate loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home equity lines
|
|
|
108,108 |
|
|
|
5.89 |
% |
|
|
107,367 |
|
|
|
6.29 |
% |
|
Single family owner occupied
|
|
|
497,695 |
|
|
|
27.10 |
% |
|
|
495,209 |
|
|
|
29.02 |
% |
|
Owner occupied construction
|
|
|
43,925 |
|
|
|
2.39 |
% |
|
|
43,505 |
|
|
|
2.55 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total consumer real estate loans
|
|
|
649,728 |
|
|
|
35.38 |
% |
|
|
646,081 |
|
|
|
37.86 |
% |
|
Consumer and other loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer loans
|
|
|
76,363 |
|
|
|
4.16 |
% |
|
|
72,000 |
|
|
|
4.22 |
% |
|
Other
|
|
|
3,029 |
|
|
|
0.16 |
% |
|
|
7,338 |
|
|
|
0.43 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total consumer and other loans
|
|
|
79,392 |
|
|
|
4.32 |
% |
|
|
79,338 |
|
|
|
4.65 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-covered loans
|
|
|
1,774,547 |
|
|
|
96.63 |
% |
|
|
1,623,506 |
|
|
|
95.13 |
% |
|
Total covered loans
|
|
|
61,837 |
|
|
|
3.37 |
% |
|
|
83,035 |
|
|
|
4.87 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans held for investment, net of unearned income
|
|
$ |
1,836,384 |
|
|
|
100.00 |
% |
|
$ |
1,706,541 |
|
|
|
100.00 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Covered Loan Portfolio, Disaggregated by Class |
The following table presents the covered loan portfolio,
disaggregated by class, as of the dates indicated:
|
|
|
|
|
|
|
|
|
| (Amounts in
thousands) |
|
September 30, 2016 |
|
|
December 31, 2015 |
|
|
Commercial loans
|
|
|
|
|
|
|
|
|
|
Construction, development, and other land
|
|
$ |
4,699 |
|
|
$ |
6,303 |
|
|
Commercial and industrial
|
|
|
941 |
|
|
|
1,170 |
|
|
Multi-family residential
|
|
|
43 |
|
|
|
640 |
|
|
Single family non-owner occupied
|
|
|
1,328 |
|
|
|
2,674 |
|
|
Non-farm, non-residential
|
|
|
8,312 |
|
|
|
14,065 |
|
|
Agricultural
|
|
|
26 |
|
|
|
34 |
|
|
Farmland
|
|
|
412 |
|
|
|
643 |
|
|
|
|
|
|
|
|
|
|
|
Total commercial loans
|
|
|
15,761 |
|
|
|
25,529 |
|
|
Consumer real estate loans
|
|
|
|
|
|
|
|
|
|
Home equity lines
|
|
|
38,737 |
|
|
|
48,565 |
|
|
Single family owner occupied
|
|
|
7,058 |
|
|
|
8,595 |
|
|
Owner occupied construction
|
|
|
201 |
|
|
|
262 |
|
|
|
|
|
|
|
|
|
|
|
Total consumer real estate loans
|
|
|
45,996 |
|
|
|
57,422 |
|
|
Consumer and other loans
|
|
|
|
|
|
|
|
|
|
Consumer loans
|
|
|
80 |
|
|
|
84 |
|
|
|
|
|
|
|
|
|
|
|
Total covered loans
|
|
$ |
61,837 |
|
|
$ |
83,035 |
|
|
|
|
|
|
|
|
|
|
|
| Carrying and Contractual Unpaid Principal Balance of PCI Loans, by Acquisition |
The following table presents the carrying and contractual unpaid
principal balance of PCI loans, by acquisition, as of the dates
indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
September 30, 2016 |
|
|
December 31, 2015 |
|
| (Amounts in
thousands) |
|
Carrying
Balance |
|
|
Unpaid Principal
Balance |
|
|
Carrying
Balance |
|
|
Unpaid Principal
Balance |
|
|
Peoples Bank of Virginia
|
|
$ |
5,798 |
|
|
$ |
9,762 |
|
|
$ |
6,681 |
|
|
$ |
11,249 |
|
|
Waccamaw Bank
|
|
|
24,877 |
|
|
|
48,642 |
|
|
|
34,707 |
|
|
|
63,151 |
|
|
Other acquired
|
|
|
1,121 |
|
|
|
1,147 |
|
|
|
1,254 |
|
|
|
1,297 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total PCI Loans
|
|
$ |
31,796 |
|
|
$ |
59,551 |
|
|
$ |
42,642 |
|
|
$ |
75,697 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Activity in Accretable Yield on PCI loans, by Acquisition |
The following tables present the activity in the accretable yield
on PCI loans, by acquisition, for the periods indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Nine Months Ended September 30, 2016 |
|
| (Amounts in
thousands) |
|
Peoples |
|
|
Waccamaw |
|
|
Total |
|
|
Beginning balance
|
|
$ |
3,589 |
|
|
$ |
26,109 |
|
|
$ |
29,698 |
|
|
Accretion
|
|
|
(982 |
) |
|
|
(4,408 |
) |
|
|
(5,390 |
) |
|
Reclassifications from nonaccretable difference
|
|
|
231 |
|
|
|
848 |
|
|
|
1,079 |
|
|
Removals, extensions, and other events, net
|
|
|
1,774 |
|
|
|
4 |
|
|
|
1,778 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance
|
|
$ |
4,612 |
|
|
$ |
22,553 |
|
|
$ |
27,165 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Nine Months Ended September 30, 2015 |
|
| (Amounts in
thousands) |
|
Peoples |
|
|
Waccamaw |
|
|
Total |
|
|
Beginning balance
|
|
$ |
4,745 |
|
|
$ |
19,048 |
|
|
$ |
23,793 |
|
|
Additions
|
|
|
— |
|
|
|
2 |
|
|
|
2 |
|
|
Accretion
|
|
|
(1,906 |
) |
|
|
(5,069 |
) |
|
|
(6,975 |
) |
|
Reclassifications from nonaccretable difference
|
|
|
583 |
|
|
|
3,225 |
|
|
|
3,808 |
|
|
Removals, extensions, and other events, net
|
|
|
(27 |
) |
|
|
5,203 |
|
|
|
5,176 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance
|
|
$ |
3,395 |
|
|
$ |
22,409 |
|
|
$ |
25,804 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|