|
Allowance for Loan and Lease Losses (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
|
| Loans and Leases Receivable Disclosure [Abstract] |
|
| Schedule of activity in the allowance for orginated loan and lease losses |
Changes in the allowance for loan and lease losses
at December 31, are summarized as follows:
| (in thousands) | |
2014 | |
2013 | |
2012 |
| Total allowance at beginning of year | |
$ | 27,970 | | |
$ | 24,643 | | |
$ | 27,593 | |
| Provisions charged to operations | |
| 2,306 | | |
| 6,161 | | |
| 8,837 | |
| Recoveries on loans and leases | |
| 3,109 | | |
| 5,347 | | |
| 734 | |
| Charge-offs on loans and leases | |
| (4,388 | ) | |
| (8,181 | ) | |
| (12,521 | ) |
| Total allowance at end of year | |
$ | 28,997 | | |
$ | 27,970 | | |
$ | 24,643 | |
The following tables detail activity in the allowance for originated
and acquired loan and lease losses by portfolio segment for the twelve months ended December 31, 2014 and 2013.
| December 31, 2014 | |
| |
| |
| |
| |
| |
|
| (in thousands) | |
Commercial and Industrial | |
Commercial Real Estate | |
Residential Real Estate | |
Consumer and Other | |
Finance Leases | |
Total |
| Allowance for originated loans and leases: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Beginning balance | |
$ | 8,406 | | |
$ | 10,459 | | |
$ | 5,771 | | |
$ | 2,059 | | |
$ | 5 | | |
$ | 26,700 | |
| Charge-offs | |
| (470 | ) | |
| (639 | ) | |
| (512 | ) | |
| (1,308 | ) | |
| 0 | | |
| (2,929 | ) |
| Recoveries | |
| 636 | | |
| 1,832 | | |
| 88 | | |
| 536 | | |
| 0 | | |
| 3,092 | |
| Provision | |
| 585 | | |
| 417 | | |
| (317 | ) | |
| 613 | | |
| (5 | ) | |
| 1,293 | |
| Ending Balance | |
$ | 9,157 | | |
$ | 12,069 | | |
$ | 5,030 | | |
$ | 1,900 | | |
$ | 0 | | |
$ | 28,156 | |
| December 31, 2014 | |
| |
| |
| |
| |
| |
|
| (in thousands) | |
Commercial and Industrial | |
Commercial Real Estate | |
Residential Real Estate | |
Consumer and Other | |
Finance Leases | |
Total |
| Allowance for acquired loans: | |
| |
| |
| |
| |
| |
|
| Beginning balance | |
$ | 168 | | |
$ | 770 | | |
$ | 274 | | |
$ | 58 | | |
$ | 0 | | |
$ | 1,270 | |
| Charge-offs | |
| (293 | ) | |
| (631 | ) | |
| (484 | ) | |
| (51 | ) | |
| 0 | | |
| (1,459 | ) |
| Recoveries | |
| 0 | | |
| 0 | | |
| 0 | | |
| 17 | | |
| 0 | | |
| 17 | |
| Provision | |
| 556 | | |
| 198 | | |
| 261 | | |
| (2 | ) | |
| 0 | | |
| 1,013 | |
| Ending Balance | |
$ | 431 | | |
$ | 337 | | |
$ | 51 | | |
$ | 22 | | |
$ | 0 | | |
$ | 841 | |
| December 31, 2013 | |
| |
| |
| |
| |
| |
|
| (in thousands) | |
Commercial and Industrial | |
Commercial Real Estate | |
Residential Real Estate | |
Consumer and Other | |
Finance Leases | |
Total |
| Allowance for originated loans and leases: | |
| |
| |
| |
| |
| |
|
| Beginning balance | |
$ | 7,533 | | |
$ | 10,184 | | |
$ | 4,981 | | |
$ | 1,940 | | |
$ | 5 | | |
$ | 24,643 | |
| Charge-offs | |
| (1,605 | ) | |
| (651 | ) | |
| (752 | ) | |
| (1,282 | ) | |
| 0 | | |
| (4,290 | ) |
| Recoveries | |
| 4,162 | | |
| 718 | | |
| 48 | | |
| 419 | | |
| 0 | | |
| 5,347 | |
| Provision | |
| (1,684 | ) | |
| 208 | | |
| 1,494 | | |
| 982 | | |
| 0 | | |
| 1,000 | |
| Ending Balance | |
$ | 8,406 | | |
$ | 10,459 | | |
$ | 5,771 | | |
$ | 2,059 | | |
$ | 5 | | |
$ | 26,700 | |
| December 31, 2013 | |
| |
| |
| |
| |
| |
|
| (in thousands) | |
Commercial and Industrial | |
Commercial Real Estate | |
Residential Real Estate | |
Consumer and Other | |
Finance Leases | |
Total |
| Allowance for acquired loans: | |
| |
| |
| |
| |
| |
|
| Beginning balance | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | |
| Charge-offs | |
| (2,991 | ) | |
| (179 | ) | |
| (696 | ) | |
| (25 | ) | |
| 0 | | |
| (3,891 | ) |
| Recoveries | |
| 0 | | |
| 0 | | |
| 0 | | |
| 0 | | |
| 0 | | |
| 0 | |
| Provision | |
| 3,159 | | |
| 949 | | |
| 970 | | |
| 83 | | |
| 0 | | |
| 5,161 | |
| Ending Balance | |
$ | 168 | | |
$ | 770 | | |
$ | 274 | | |
$ | 58 | | |
$ | 0 | | |
$ | 1,270 | |
|
| Schedule of activity in the allowance for loan and lease losses based on impairment methodology |
At December 31, 2014 and 2013, the allocation of the allowance
for loan and lease losses summarized on the basis of the Company’s impairment methodology was as follows:
| December 31, 2014 | |
| |
| |
| |
| |
| |
|
| (in thousands) | |
Commercial and Industrial | |
Commercial Real Estate | |
Residential Real Estate | |
Consumer and Other | |
Finance Leases | |
Total |
| Allowance for originated loans and leases: | |
| |
| |
| |
| |
| |
|
| Individually evaluated for | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| impairment | |
$ | 0 | | |
$ | 652 | | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | | |
$ | 652 | |
| Collectively evaluated for | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| impairment | |
| 9,157 | | |
| 11,417 | | |
| 5,030 | | |
| 1,900 | | |
| 0 | | |
| 27,504 | |
| Ending balance | |
$ | 9,157 | | |
$ | 12,069 | | |
$ | 5,030 | | |
$ | 1,900 | | |
$ | 0 | | |
$ | 28,156 | |
| Allowance for acquired loans: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Individually evaluated for | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| impairment | |
$ | 414 | | |
$ | 100 | | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | | |
$ | 514 | |
| Collectively evaluated for | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| impairment | |
| 17 | | |
| 237 | | |
| 51 | | |
| 22 | | |
| 0 | | |
| 327 | |
| Ending balance | |
$ | 431 | | |
$ | 337 | | |
$ | 51 | | |
$ | 22 | | |
$ | 0 | | |
$ | 841 | |
| December 31, 2013 | |
| |
| |
| |
| |
| |
|
| (in thousands) | |
Commercial and Industrial | |
Commercial Real Estate | |
Residential Real Estate | |
Consumer and Other | |
Finance Leases | |
Total |
| Allowance for originated loans and leases: | |
| |
| |
| |
| |
| |
|
| Individually evaluated for | |
| |
| |
| |
| |
| |
|
| impairment | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | |
| Collectively evaluated for | |
| 8,406 | | |
| 10,459 | | |
| 5,771 | | |
| 2,059 | | |
| 5 | | |
| 26,700 | |
| impairment | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Ending balance | |
$ | 8,406 | | |
$ | 10,459 | | |
$ | 5,771 | | |
$ | 2,059 | | |
$ | 5 | | |
$ | 26,700 | |
| Allowance for acquired loans: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Individually evaluated for | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| impairment | |
$ | 0 | | |
$ | 250 | | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | | |
$ | 250 | |
| Collectively evaluated for | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| impairment | |
| 168 | | |
| 520 | | |
| 274 | | |
| 58 | | |
| 0 | | |
| 1,020 | |
| Ending balance | |
$ | 168 | | |
$ | 770 | | |
$ | 274 | | |
$ | 58 | | |
$ | 0 | | |
$ | 1,270 | |
|
| Schedule of recorded investment in loans and leases impairment methodology |
The recorded investment in loans and leases summarized on the basis
of the Company’s impairment methodology as of December 31, 2014 and December 31, 2013 was as follows:
| December 31, 2014 | |
| |
| |
| |
| |
| |
|
| (in thousands) | |
Commercial and Industrial | |
Commercial Real Estate | |
Residential Real Estate | |
Consumer and Other | |
Finance Leases | |
Total |
| Originated loans and leases: | |
| |
| |
| |
| |
| |
|
| Individually evaluated for | |
| |
| |
| |
| |
| |
|
| impairment | |
$ | 1,283 | | |
$ | 7,675 | | |
$ | 1,408 | | |
$ | 0 | | |
$ | 0 | | |
$ | 10,366 | |
| Collectively evaluated for | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| impairment | |
| 765,753 | | |
| 1,103,367 | | |
| 896,453 | | |
| 54,172 | | |
| 12,251 | | |
| 2,831,996 | |
| Total | |
$ | 767,036 | | |
$ | 1,111,042 | | |
$ | 897,861 | | |
$ | 54,172 | | |
$ | 12,251 | | |
$ | 2,842,362 | |
| December 31, 2014 | |
| |
| |
| |
| |
| |
|
| (in thousands) | |
Commercial and Industrial | |
Commercial Real Estate | |
Residential Real Estate | |
Consumer and Other | |
Covered Loans | |
Total |
| Acquired loans: | |
| |
| |
| |
| |
| |
|
| Individually evaluated for | |
| |
| |
| |
| |
| |
|
| impairment | |
$ | 628 | | |
$ | 1,195 | | |
$ | 440 | | |
$ | 0 | | |
$ | 0 | | |
$ | 2,263 | |
| Loans acquired with | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| deteriorated credit quality | |
| 995 | | |
| 11,640 | | |
| 3,669 | | |
| 0 | | |
| 18,106 | | |
| 34,410 | |
| Collectively evaluated for | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| impairment | |
| 95,411 | | |
| 334,741 | | |
| 84,181 | | |
| 1,095 | | |
| 1,213 | | |
| 516,640 | |
| Total | |
$ | 97,034 | | |
$ | 347,576 | | |
$ | 88,290 | | |
$ | 1,095 | | |
$ | 19,319 | | |
$ | 553,314 | |
| December 31, 2013 | |
| |
| |
| |
| |
| |
|
| (in thousands) | |
Commercial and Industrial | |
Commercial Real Estate | |
Residential Real Estate | |
Consumer and Other | |
Finance Leases | |
Total |
| Originated loans and leases: | |
| |
| |
| |
| |
| |
|
| Individually evaluated for | |
| |
| |
| |
| |
| |
|
| impairment | |
$ | 4,664 | | |
| 16,269 | | |
$ | 1,223 | | |
$ | 0 | | |
$ | 0 | | |
$ | 22,156 | |
| Collectively evaluated for | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| impairment | |
| 632,563 | | |
| 986,119 | | |
| 829,552 | | |
| 53,514 | | |
| 5,563 | | |
| 2,507,311 | |
| Total | |
$ | 637,227 | | |
$ | 1,002,388 | | |
$ | 830,775 | | |
$ | 53,514 | | |
$ | 5,563 | | |
$ | 2,529,467 | |
| December 31, 2013 | |
| |
| |
| |
| |
| |
|
| (in thousands) | |
Commercial and Industrial | |
Commercial Real Estate | |
Residential Real Estate | |
Consumer and Other | |
Covered Loans | |
Total |
| Acquired loans: | |
| |
| |
| |
| |
| |
|
| Individually evaluated for | |
| |
| |
| |
| |
| |
|
| impairment | |
$ | 2,231 | | |
| 2,429 | | |
$ | 73 | | |
$ | 0 | | |
$ | 0 | | |
$ | 4,733 | |
| Loans acquired with | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| deteriorated credit quality | |
| 2,558 | | |
| 10,263 | | |
| 9,355 | | |
| 0 | | |
| 24,633 | | |
| 46,809 | |
| Collectively evaluated for | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| impairment | |
| 123,714 | | |
| 396,234 | | |
| 93,091 | | |
| 1,224 | | |
| 1,235 | | |
| 615,498 | |
| Total | |
$ | 128,503 | | |
$ | 408,926 | | |
$ | 102,519 | | |
$ | 1,224 | | |
$ | 25,868 | | |
$ | 667,040 | |
|
| Schedule of recorded investments in impaired loans |
| |
|
|
|
12/31/2014 |
|
|
|
|
|
12/31/2013 |
|
|
| (in thousands) |
|
Recorded Investment |
|
Unpaid Principal Balance |
|
Related Allowance |
|
Recorded Investment |
|
Unpaid Principal Balance |
|
Related Allowance |
| Originated loans and leases with no related allowance |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial and industrial other |
$ |
1,283 |
$ |
1,307 |
$ |
0 |
$ |
4,664 |
$ |
5,069 |
$ |
0 |
| Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
| Construction |
|
0 |
|
0 |
|
0 |
|
6,073 |
|
11,683 |
|
0 |
| Commercial real estate other |
|
6,021 |
|
6,628 |
|
0 |
|
10,196 |
|
13,518 |
|
0 |
| Residential real estate |
|
|
|
|
|
|
|
|
|
|
|
|
| Home equity |
|
1,408 |
|
1,499 |
|
0 |
|
1,223 |
|
1,299 |
|
0 |
| Subtotal |
$ |
8,712 |
$ |
9,434 |
$ |
0 |
$ |
22,156 |
$ |
31,569 |
$ |
0 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Originated loans and leases with related allowance |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial real estate other |
|
1,654 |
|
1,654 |
|
652 |
|
0 |
|
0 |
|
0 |
| Subtotal |
$ |
1,654 |
$ |
1,654 |
$ |
652 |
$ |
0 |
$ |
0 |
$ |
0 |
| Total |
$ |
10,366 |
$ |
11,088 |
$ |
652 |
$ |
22,156 |
$ |
31,569 |
$ |
0 |
| |
12/31/2014 |
12/31/2013 |
| (in thousands) |
Recorded
Investment |
Unpaid
Principal Balance |
Related
Allowance |
|
Recorded
Investment |
Unpaid
Principal Balance |
Related
Allowance |
| Acquired loans with no related allowance |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Commercial and industrial other |
$ |
64 |
$ |
64 |
$ |
0 |
$ |
2,231 |
$ |
5,081 |
$ |
0 |
| Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Commercial real estate other |
|
941 |
|
1,204 |
|
0 |
|
1,960 |
|
1,960 |
|
0 |
| Residential real estate |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Home equity |
|
440 |
|
440 |
|
0 |
|
73 |
|
73 |
|
0 |
| Subtotal |
$ |
1,445 |
$ |
1,708 |
$ |
0 |
$ |
4,264 |
$ |
7,114 |
$ |
0 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Acquired loans with related allowance |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Commercial and industrial other |
|
564 |
|
564 |
|
414 |
|
0 |
|
0 |
|
0 |
| Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Commercial real estate other |
|
254 |
|
254 |
|
100 |
|
469 |
|
719 |
|
250 |
| Subtotal |
$ |
818 |
$ |
818 |
$ |
514 |
$ |
469 |
$ |
719 |
$ |
250 |
| Total |
$ |
2,263 |
$ |
2,526 |
$ |
514 |
$ |
4,733 |
$ |
7,833 |
$ |
250 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
The average
recorded investment and interest income recognized on impaired originated loans for the twelve months ended December 31, 2014,
2013 and 2012 was as follows:
| |
As of December 31, |
| | |
2014 | |
2013 | |
2012 |
| (in thousands) | |
Average Recorded Investment | |
Interest Income Recognized | |
Average Recorded Investment | |
Interest Income Recognized | |
Average Recorded Investment | |
Interest Income Recognized |
| Originated loans and leases with no related allowance |
| Commercial and industrial | |
| |
| |
| |
| |
| |
|
| Commercial and industrial other | |
| 2,366 | | |
| 0 | | |
| 4,918 | | |
| 0 | | |
| 3,016 | | |
| 0 | |
| Commercial real estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Construction | |
| 0 | | |
| 0 | | |
| 6,201 | | |
| 0 | | |
| 7,430 | | |
| 0 | |
| Commercial real estate other | |
| 8,078 | | |
| 0 | | |
| 10,775 | | |
| 0 | | |
| 15,120 | | |
| 0 | |
| Residential real estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Home equity | |
| 1,408 | | |
| 0 | | |
| 1,223 | | |
| 0 | | |
| 484 | | |
| 0 | |
| Subtotal | |
$ | 11,852 | | |
$ | 0 | | |
$ | 23,117 | | |
$ | 0 | | |
$ | 26,050 | | |
$ | 0 | |
| Originated loans and leases with related allowance | |
| Commercial and industrial | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Commercial and industrial other | |
| 0 | | |
| 0 | | |
| 0 | | |
| 0 | | |
| 3,140 | | |
| 0 | |
| Commercial real estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Commercial real estate other | |
| 892 | | |
| 0 | | |
| 0 | | |
| 0 | | |
| 261 | | |
| 0 | |
| Subtotal | |
$ | 892 | | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | | |
$ | 3,401 | | |
$ | 0 | |
| Total | |
$ | 12,744 | | |
$ | 0 | | |
$ | 23,117 | | |
$ | 0 | | |
$ | 29,451 | | |
$ | 0 | |
The average
recorded investment and interest income recognized on impaired acquired loans for the twelve months ended December 31, 2014, 2013
and 2012 was as follows:
| |
As of December 31, |
| | |
2014 | |
2013 |
2012 |
| (in thousands) | |
Average Recorded Investment | |
Interest Income Recognized | |
Average Recorded Investment | |
Interest Income Recognized | |
Average Recorded Investment | |
Interest Income Recognized |
| Acquired loans with no related allowance | |
| |
| |
| |
| |
| |
|
| Commercial and industrial | |
| |
| |
| |
| |
| |
|
| Commercial and industrial other | |
| 252 | | |
| 0 | | |
| 1,042 | | |
| 0 | | |
| 0 | | |
| 0 | |
| Commercial real estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Commercial real estate other | |
| 1,147 | | |
| 0 | | |
| 3,999 | | |
| 102 | | |
| 0 | | |
| 0 | |
| Residential real estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Home equity | |
| 440 | | |
| 0 | | |
| 73 | | |
| 0 | | |
| 0 | | |
| 0 | |
| Subtotal | |
$ | 1,839 | | |
$ | 0 | | |
$ | 5,114 | | |
$ | 102 | | |
$ | 0 | | |
$ | 0 | |
| Acquired loans with related allowance | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Commercial and industrial | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Commercial and industrial other | |
| 831 | | |
| 0 | | |
| 0 | | |
| 0 | | |
| 0 | | |
| 0 | |
| Commercial real estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Commercial real estate other | |
| 266 | | |
| 0 | | |
| 724 | | |
| 0 | | |
| 0 | | |
| 0 | |
| Subtotal | |
$ | 1,097 | | |
$ | 0 | | |
$ | 724 | | |
$ | 0 | | |
$ | 0 | | |
$ | 0 | |
| Total | |
$ | 2,936 | | |
$ | 0 | | |
$ | 5,838 | | |
$ | 102 | | |
$ | 0 | | |
$ | 0 | |
|
| Schedule of troubled debt restructurings |
The following tables present loans by
class modified in 2014 as troubled debt restructurings.
| Troubled Debt Restructuring |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
| December 31, 2014 |
|
Twelve months ended |
| |
|
|
|
|
|
|
|
Defaulted TDRs3 |
| (in thousands) |
|
Number of Loans |
|
Pre-Modification Outstanding Recorded Investment |
|
Post-Modification Outstanding Recorded Investment |
|
Number of Loans |
|
Post-Modification Outstanding Recorded Investment |
| Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
| Commercial and industrial other1 |
|
|
1 |
|
|
$ |
86 |
|
|
$ |
86 |
|
|
|
0 |
|
|
$ |
0 |
|
| Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial real estate other2 |
|
|
4 |
|
|
$ |
917 |
|
|
$ |
917 |
|
|
|
1 |
|
|
$ |
63 |
|
| Total |
|
|
5 |
|
|
$ |
1,003 |
|
|
$ |
1,003 |
|
|
$ |
1 |
|
|
$ |
63 |
|
| 1 |
Represents the following concessions: extension of term and reduction of rate |
| 2 |
Represents the following concessions: extension of term and reduction of rate |
| 3 |
TDRs that defaulted during the 12 months ended December 31, 2014, that had been restructured in the prior twelve months. |
| December 31, 2013 |
|
Twelve months ended |
| |
|
|
|
|
|
|
|
Defaulted TDRs4 |
| (in thousands) |
|
Number of Loans |
|
Pre-Modification Outstanding Recorded Investment |
|
Post-Modification Outstanding Recorded Investment |
|
Number of Loans |
|
Post-Modification Outstanding Recorded Investment |
| Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial and industrial other1 |
|
|
4 |
|
|
$ |
878 |
|
|
$ |
878 |
|
|
|
1 |
|
|
$ |
645 |
|
| Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commercial real estate other2 |
|
|
13 |
|
|
$ |
1,837 |
|
|
$ |
1,837 |
|
|
|
1 |
|
|
$ |
140 |
|
| Residential real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgages3 |
|
|
1 |
|
|
$ |
195 |
|
|
$ |
195 |
|
|
|
1 |
|
|
$ |
195 |
|
| Total |
|
|
18 |
|
|
$ |
2,910 |
|
|
$ |
2,910 |
|
|
$ |
3 |
|
|
$ |
980 |
|
| 1 |
Represents the following concessions: extension of term and reduction in rate (3 loans: $808,000) extension of term (1 loan: $70,000) |
| 2 |
Represents the following concessions: extension of term and reduction of rate (12 loans: $1.9 million) extension of term (1 loan: $129,000) |
| 3 |
Represents the following concessions: extension of term and reduction of rate |
| 4 |
TDRs that defaulted during the 12 months ended December 31, 2013 that had been restructured in the prior twelve months. |
|
| Schedule of credit quality indicators on loans by class of commercial and industrial loans and commercial real estate loans |
The following table presents credit quality indicators (internal
risk grade) by class of commercial loans, commercial real estate loans and agricultural loans as of December 31, 2014 and 2013.
| December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Commercial and Industrial Other |
|
Commercial and Industrial Agriculture |
|
Commercial Real Estate Other |
|
Commercial Real Estate Agriculture |
|
Commercial Real Estate Construction |
|
Total |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Originated loans and leases |
|
|
|
|
|
|
|
|
|
|
|
|
| Internal risk grade: |
|
|
|
|
|
|
|
|
|
|
|
|
| Pass |
|
$ |
670,478 |
|
|
$ |
78,250 |
|
|
$ |
945,898 |
|
|
$ |
58,455 |
|
|
$ |
68,696 |
|
|
$ |
1,821,777 |
|
| Special Mention |
|
|
12,602 |
|
|
|
151 |
|
|
|
19,692 |
|
|
|
155 |
|
|
|
3,731 |
|
|
|
36,331 |
|
| Substandard |
|
|
5,449 |
|
|
|
106 |
|
|
|
14,031 |
|
|
|
384 |
|
|
|
0 |
|
|
|
19,970 |
|
| Total |
|
$ |
688,529 |
|
|
$ |
78,507 |
|
|
$ |
979,621 |
|
|
$ |
58,994 |
|
|
$ |
72,427 |
|
|
$ |
1,878,078 |
|
| December 31, 2014 |
| |
Commercial and Industrial Other |
Commercial and Industrial Agriculture |
Commercial Real Estate Other |
Commercial Real Estate Agriculture |
Commercial Real Estate Construction |
Total |
| |
| (in thousands) |
| Acquired loans |
|
|
|
|
|
|
| Internal risk grade: |
|
|
|
|
|
|
|
|
|
|
|
|
| Pass |
$ |
94,054 |
$ |
0 |
$ |
15,611 |
$ |
1,352 |
$ |
306,268 |
$ |
417,285 |
| Special Mention |
|
83 |
|
0 |
|
5,675 |
|
0 |
|
0 |
|
5,758 |
| Substandard |
|
2,897 |
|
0 |
|
14,620 |
|
1,830 |
|
2,220 |
|
21,567 |
| Total |
$ |
97,034 |
$ |
0 |
$ |
35,906 |
$ |
3,182 |
$ |
308,488 |
$ |
444,610 |
December 31, 2013
| (in thousands) |
|
Commercial and Industrial Other |
|
Commercial and Industrial Agriculture |
|
Commercial Real Estate Other |
|
Commercial Real Estate Agriculture |
|
Commercial Real Estate Construction |
|
Total |
| Originated loans and leases |
|
|
|
|
|
|
|
|
|
|
|
|
| Internal risk grade: |
|
|
|
|
|
|
|
|
|
|
|
|
| Pass |
|
$ |
531,293 |
|
|
$ |
72,997 |
|
|
$ |
869,488 |
|
|
$ |
52,054 |
|
|
$ |
36,396 |
|
|
$ |
1,562,228 |
|
| Special Mention |
|
|
20,688 |
|
|
|
100 |
|
|
|
17,536 |
|
|
|
123 |
|
|
|
3,918 |
|
|
|
42,365 |
|
| Substandard |
|
|
10,458 |
|
|
|
1,691 |
|
|
|
16,296 |
|
|
|
450 |
|
|
|
6,127 |
|
|
|
35,022 |
|
| Total |
|
$ |
562,439 |
|
|
$ |
74,788 |
|
|
$ |
903,320 |
|
|
$ |
52,627 |
|
|
$ |
46,441 |
|
|
$ |
1,639,615 |
|
December 31, 2013
| (in thousands) |
|
Commercial and Industrial Other |
|
Commercial and Industrial Agriculture |
|
Commercial Real Estate Other |
|
Commercial Real Estate Agriculture |
|
Commercial Real Estate Construction |
|
Total |
| Acquired loans |
|
|
|
|
|
|
|
|
|
|
|
|
| Internal risk grade: |
|
|
|
|
|
|
|
|
|
|
|
|
| Pass |
|
$ |
116,160 |
|
|
$ |
0 |
|
|
$ |
5,809 |
|
|
$ |
1,150 |
|
|
$ |
363,427 |
|
|
$ |
486,546 |
|
| Special Mention |
|
|
3,821 |
|
|
|
0 |
|
|
|
11,516 |
|
|
|
1,985 |
|
|
|
0 |
|
|
|
17,322 |
|
| Substandard |
|
|
8,522 |
|
|
|
0 |
|
|
|
22,028 |
|
|
|
0 |
|
|
|
3,011 |
|
|
|
33,561 |
|
| Total |
|
$ |
128,503 |
|
|
$ |
0 |
|
|
$ |
39,353 |
|
|
$ |
3,135 |
|
|
$ |
366,438 |
|
|
$ |
537,429 |
|
|
| Schedule of credit quality indicators by class of residential real estate and consumer loans |
The following table presents credit quality indicators by
class of residential real estate loans and by class of consumer loans as of December 31, 2014 and 2013. Nonperforming loans include
nonaccrual, impaired and loans 90 days past due and accruing interest, all other loans are considered performing.
| December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Residential Home Equity |
|
Residential Mortgages |
|
Consumer Indirect |
|
Consumer Other |
|
Total |
| Originated loans and leases |
|
|
|
|
|
|
|
|
|
|
| Performing |
|
$ |
185,619 |
|
|
$ |
704,663 |
|
|
$ |
18,197 |
|
|
$ |
35,626 |
|
|
$ |
944,105 |
|
| Nonperforming |
|
|
1,338 |
|
|
|
6,241 |
|
|
|
101 |
|
|
|
248 |
|
|
|
7,928 |
|
| Total |
|
$ |
186,957 |
|
|
$ |
710,904 |
|
|
$ |
18,298 |
|
|
$ |
35,874 |
|
|
$ |
952,033 |
|
| December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Residential Home Equity |
|
Residential Mortgages |
|
Consumer Indirect |
|
Consumer Other |
|
Total |
| Acquired Loans and Leases |
|
|
|
|
|
|
|
|
|
|
| Performing |
|
$ |
55,416 |
|
|
$ |
31,304 |
|
|
$ |
0 |
|
|
$ |
1,095 |
|
|
$ |
87,815 |
|
| Nonperforming |
|
|
592 |
|
|
|
978 |
|
|
|
0 |
|
|
|
0 |
|
|
|
1,570 |
|
| Total |
|
$ |
56,008 |
|
|
$ |
32,282 |
|
|
$ |
0 |
|
|
$ |
1,095 |
|
|
$ |
89,385 |
|
| December 31, 2013 |
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Residential Home Equity |
|
Residential Mortgages |
|
Consumer Indirect |
|
Consumer Other |
|
Total |
| Originated loans and leases |
|
|
|
|
|
|
|
|
|
|
| Performing |
|
$ |
170,270 |
|
|
$ |
651,139 |
|
|
$ |
20,986 |
|
|
$ |
32,274 |
|
|
$ |
874,669 |
|
| Nonperforming |
|
|
1,539 |
|
|
|
7,827 |
|
|
|
216 |
|
|
|
38 |
|
|
|
9,620 |
|
| Total |
|
$ |
171,809 |
|
|
$ |
658,966 |
|
|
$ |
21,202 |
|
|
$ |
32,312 |
|
|
$ |
884,289 |
|
| December 31, 2013 |
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
|
Residential Home Equity |
|
Residential Mortgages |
|
Consumer Indirect |
|
Consumer Other |
|
Total |
| Acquired loans |
|
|
|
|
|
|
|
|
|
|
| Performing |
|
$ |
65,339 |
|
|
$ |
33,014 |
|
|
$ |
5 |
|
|
$ |
1,219 |
|
|
$ |
99,577 |
|
| Nonperforming |
|
|
1,844 |
|
|
|
2,322 |
|
|
|
0 |
|
|
|
0 |
|
|
|
4,166 |
|
| Total |
|
$ |
67,183 |
|
|
$ |
35,336 |
|
|
$ |
5 |
|
|
$ |
1,219 |
|
|
$ |
103,743 |
|
|