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Loans Receivable (Tables)
3 Months Ended
Mar. 31, 2021
Loans and Leases Receivable Disclosure [Abstract]  
Financing Receivable Credit Quality Indicators [Table Text Block]
The amortized cost of loans receivable, net of ACL on loans at March 31, 2021 and December 31, 2020 consisted of the following portfolio segments and classes:
March 31,
2021
December 31,
2020
(In thousands)
Commercial business:
Commercial and industrial$693,539 $733,098 
SBA PPP886,761 715,121 
Owner-occupied CRE881,168 856,684 
Non-owner occupied CRE1,427,953 1,410,303 
Total commercial business3,889,421 3,715,206 
Residential real estate114,856 122,756 
Real estate construction and land development:
Residential
79,878 78,259 
Commercial and multifamily
217,815 227,454 
Total real estate construction and land development297,693 305,713 
Consumer293,899 324,972 
Loans receivable4,595,869 4,468,647 
Allowance for credit losses on loans(64,225)(70,185)
Loans receivable, net$4,531,644 $4,398,462 
Balances included in the amortized cost of Loans receivable:
Unamortized net discount on acquired loans$(5,501)$(6,575)
Unamortized net deferred fee$(24,017)$(15,458)
The following table presents the amortized cost of loans receivable by risk grade as of March 31, 2021 and December 31, 2020:
March 31, 2021
Term Loans
Amortized Cost Basis by Origination Year
Revolving Loans
Revolving Loans Converted to Term Loans (1)
Loans Receivable
20212020201920182017Prior
(In thousands)
Commercial business:
Commercial and industrial
Pass$24,439 $120,602 $122,697 $64,991 $39,950 $124,627 $98,202 $1,473 $596,981 
SM1,287 2,714 7,917 9,504 3,704 9,272 7,334 35 41,767 
SS463 2,255 12,178 3,982 8,941 6,816 16,478 3,678 54,791 
Total26,189 125,571 142,792 78,477 52,595 140,715 122,014 5,186 693,539 
SBA PPP
Pass339,326 547,435 — — — — — — 886,761 
Total339,326 547,435 — — — — — — 886,761 
Owner-occupied CRE
Pass41,278 88,959 170,718 93,917 76,142 312,775 — — 783,789 
SM— 5,336 5,269 12,453 10,406 18,755 — — 52,219 
SS— 695 — 3,942 7,234 33,289 — — 45,160 
Total41,278 94,990 175,987 110,312 93,782 364,819 — — 881,168 
Non-owner occupied CRE
Pass34,753 194,272 186,003 140,023 171,127 631,974 — — 1,358,152 
SM— — 1,979 357 2,371 10,282 — — 14,989 
SS— — — 3,623 — 51,189 — — 54,812 
Total34,753 194,272 187,982 144,003 173,498 693,445 — — 1,427,953 
Total commercial business
Pass439,796 951,268 479,418 298,931 287,219 1,069,376 98,202 1,473 3,625,683 
SM1,287 8,050 15,165 22,314 16,481 38,309 7,334 35 108,975 
SS463 2,950 12,178 11,547 16,175 91,294 16,478 3,678 154,763 
Total441,546 962,268 506,761 332,792 319,875 1,198,979 122,014 5,186 3,889,421 
Residential real estate
Pass5,373 28,990 35,889 12,518 9,606 21,699 — — 114,075 
SS— — — — 58 723 — — 781 
Total5,373 28,990 35,889 12,518 9,664 22,422 — — 114,856 
March 31, 2021
Term Loans
Amortized Cost Basis by Origination Year
Revolving Loans
Revolving Loans Converted to Term Loans (1)
Loans Receivable
20212020201920182017Prior
Real estate construction and land development:
Residential
Pass11,483 39,217 24,441 2,515 408 1,814 — — 79,878 
Commercial and multifamily
Pass1,023 34,068 148,787 28,018 1,961 2,432 — — 216,289 
SS— 637 450 — — 439 — — 1,526 
Total1,023 34,705 149,237 28,018 1,961 2,871 — — 217,815 
Total real estate construction and land development
Pass12,506 73,285 173,228 30,533 2,369 4,246 — — 296,167 
SS— 637 450 — — 439 — — 1,526 
Total12,506 73,922 173,678 30,533 2,369 4,685 — — 297,693 
Consumer
Pass3,984 41,029 68,276 46,869 25,950 23,893 80,090 417 290,508 
SS— 95 594 611 681 1,271 78 61 3,391 
Total3,984 41,124 68,870 47,480 26,631 25,164 80,168 478 293,899 
Loans receivable
Pass461,659 1,094,572 756,811 388,851 325,144 1,119,214 178,292 1,890 4,326,433 
SM1,287 8,050 15,165 22,314 16,481 38,309 7,334 35 108,975 
SS463 3,682 13,222 12,158 16,914 93,727 16,556 3,739 160,461 
Total$463,409 $1,106,304 $785,198 $423,323 $358,539 $1,251,250 $202,182 $5,664 $4,595,869 
(1) Represents loans receivable balance at March 31, 2021 which was converted from a revolving loan to an amortizing loan during the three months ended March 31, 2021.
December 31, 2020
Term Loans
Amortized Cost Basis by Origination Year
Revolving Loans
Revolving Loans Converted to Term Loans (1)
Loans Receivable
20202019201820172016Prior
(In thousands)
Commercial business:
Commercial and industrial
Pass118,971 127,919 70,766 44,231 37,658 95,958 121,440 819 617,762 
SM14,430 9,162 10,878 4,171 5,700 3,579 11,790 814 60,524 
SS2,199 11,835 3,416 9,348 1,052 7,651 15,484 3,827 54,812 
Total135,600 148,916 85,060 57,750 44,410 107,188 148,714 5,460 733,098 
SBA PPP
Pass715,121 — — — — — — — 715,121 
Owner-occupied CRE
Pass89,224 167,095 94,830 80,138 74,902 254,864 — — 761,053 
SM6,146 4,540 16,386 11,231 5,464 12,105 — — 55,872 
SS— — 114 7,320 3,313 29,012 — — 39,759 
Total95,370 171,635 111,330 98,689 83,679 295,981 — — 856,684 
Non-owner-occupied CRE
Pass197,548 173,153 148,830 172,438 240,614 406,817 — — 1,339,400 
SM— 1,979 357 2,448 6,210 3,539 — — 14,533 
SS— — 3,623 — 35,455 17,292 — — 56,370 
Total197,548 175,132 152,810 174,886 282,279 427,648 — — 1,410,303 
Total commercial business
Pass1,120,864 468,167 314,426 296,807 353,174 757,639 121,440 819 3,433,336 
SM20,576 15,681 27,621 17,850 17,374 19,223 11,790 814 130,929 
SS2,199 11,835 7,153 16,668 39,820 53,955 15,484 3,827 150,941 
Total1,143,639 495,683 349,200 331,325 410,368 830,817 148,714 5,460 3,715,206 
Residential real estate
Pass30,141 41,829 15,730 10,362 7,322 16,825 — — 122,209 
SS— — — 59 — 488 — — 547 
Total30,141 41,829 15,730 10,421 7,322 17,313 — — 122,756 
Real estate construction and land development:
Residential
Pass33,801 36,697 2,725 1,097 971 1,042 — — 76,333 
SS— — — 1,926 — — — — 1,926 
Total33,801 36,697 2,725 3,023 971 1,042 — — 78,259 
Commercial and multifamily
Pass27,423 151,020 38,682 5,660 689 1,407 — — 224,881 
SM67 1,011 — — — 29 — — 1,107 
SS572 450 — — — 444 — — 1,466 
Total28,062 152,481 38,682 5,660 689 1,880 — — 227,454 
Total real estate construction and land development
Pass61,224 187,717 41,407 6,757 1,660 2,449 — — 301,214 
SM67 1,011 — — — 29 — — 1,107 
SS572 450 — 1,926 — 444 — — 3,392 
Total61,863 189,178 41,407 8,683 1,660 2,922 — — 305,713 
Consumer
Pass43,742 77,083 53,195 30,559 13,443 15,453 87,547 315 321,337 
SS34 404 684 648 420 1,319 78 48 3,635 
Total43,776 77,487 53,879 31,207 13,863 16,772 87,625 363 324,972 
Loans receivable
Pass1,255,971 774,796 424,758 344,485 375,599 792,366 208,987 1,134 4,178,096 
SM20,643 16,692 27,621 17,850 17,374 19,252 11,790 814 132,036 
SS2,805 12,689 7,837 19,301 40,240 56,206 15,562 3,875 158,515 
Total$1,279,419 $804,177 $460,216 $381,636 $433,213 $867,824 $236,339 $5,823 $4,468,647 
(1) Represents loans receivable balance at December 31, 2020 which was converted from a revolving loan to an amortizing loan during the year ended December 31, 2020.
Schedule of nonaccrual loans
The following table presents the amortized cost of nonaccrual loans for the dates indicated:
March 31, 2021
Nonaccrual without ACLNonaccrual with ACLTotal Nonaccrual
(In thousands)
Commercial business:
Commercial and industrial$17,400 $12,872 $30,272 
Owner-occupied CRE4,518 11,918 16,436 
Non-owner occupied CRE1,424 3,623 5,047 
Total commercial business23,342 28,413 51,755 
Residential real estate66 — 66 
Real estate construction and land development:
Commercial and multifamily
— 1,021 1,021 
Consumer26 — 26 
Total$23,434 $29,434 $52,868 

December 31, 2020
Nonaccrual without ACLNonaccrual with ACLTotal Nonaccrual
(In thousands)
Commercial business:
Commercial and industrial$22,039 $9,208 $31,247 
Owner-occupied CRE4,693 13,700 18,393 
Non-owner occupied CRE3,424 3,722 7,146 
Total commercial business30,156 26,630 56,786 
Residential real estate
67 117 184 
Real estate construction and land development:
Commercial and multifamily
572 450 1,022 
Consumer31 69 100 
Total$30,826 $27,266 $58,092 
The following table presents the reversal of interest income on loans due to the write-off of accrued interest receivable upon the initial classification of loans as nonaccrual loans and the interest income recognized due to payment in full of previously classified nonaccrual loans during the following periods:
Three Months Ended
March 31, 2021
Three Months Ended
March 31, 2020
Interest Income ReversedInterest Income RecognizedInterest Income ReversedInterest Income Recognized
(In thousands)
Commercial business:
Commercial and industrial$(2)$63 $(16)$219 
Owner-occupied CRE— 114 — 46 
Non-owner occupied CRE— 313 — 45 
Total commercial business(2)490 (16)310 
Real estate construction and land development:
Residential
— 73 — — 
Consumer— — — 10 
Total$(2)$563 $(16)$320 
Financing Receivable, Past Due [Table Text Block] The amortized cost of past due loans as of March 31, 2021 and December 31, 2020 were as follows:
March 31, 2021
30-89 Days90 Days or
Greater
Total Past 
Due
CurrentLoans Receivable
(In thousands)
Commercial business:
Commercial and industrial$4,393 $8,178 $12,571 $680,968 $693,539 
SBA PPP— — — 886,761 886,761 
Owner-occupied CRE— — — 881,168 881,168 
Non-owner occupied CRE482 — 482 1,427,471 1,427,953 
Total commercial business4,875 8,178 13,053 3,876,368 3,889,421 
Residential real estate
— 46 46 114,810 114,856 
Real estate construction and land development:
Residential
— — — 79,878 79,878 
Commercial and multifamily
— 571 571 217,244 217,815 
Total real estate construction and land development— 571 571 297,122 297,693 
Consumer739 — 739 293,160 293,899 
Total$5,614 $8,795 $14,409 $4,581,460 $4,595,869 

December 31, 2020
30-89 Days90 Days or
Greater
Total Past 
Due
CurrentLoans Receivable
(In thousands)
Commercial business:
Commercial and industrial$4,621 $8,082 $12,703 $720,395 $733,098 
SBA PPP— — — 715,121 715,121 
Owner-occupied CRE991 403 1,394 855,290 856,684 
Non-owner occupied CRE412 1,970 2,382 1,407,921 1,410,303 
Total commercial business6,024 10,455 16,479 3,698,727 3,715,206 
Residential real estate
765 16 781 121,975 122,756 
Real estate construction and land development:
Residential
— — — 78,259 78,259 
Commercial and multifamily
2,225 — 2,225 225,229 227,454 
Total real estate construction and land development2,225 — 2,225 303,488 305,713 
Consumer1,407 30 1,437 323,535 324,972 
Total$10,421 $10,501 $20,922 $4,447,725 $4,468,647 
Loans and Lease Receivable Collateral for Secured Borrowings [Table Text Block]
The type of collateral securing loans individually evaluated for credit losses and for which the repayment was expected to be provided substantially through the operation or sale of the collateral as of March 31, 2021 and December 31, 2020 were as follows:
March 31, 2021
CRE(1)
Farmland(1)
Residential Real Estate(1)
Non-real property business assets(1)
Total(1)
(In thousands)
Commercial business:
Commercial and industrial$1,967 $13,760 $825 $592 $17,144 
Owner-occupied CRE4,517 — — — 4,517 
Non-owner occupied CRE1,424 — — — 1,424 
Total commercial business7,908 13,760 825 592 23,085 
Residential real estate
— — 66 — 66 
Real estate construction and land development:
Commercial and multifamily
571 — — — 571 
Consumer— — 30 — 30 
Total$8,479 $13,760 $921 $592 $23,752 
(1) Balances represent the amortized cost of the loan. If multiple collateral sources secure the loan, the entire balance is presented in the primary collateral category.
December 31, 2020
CRE(1)
Farmland(1)
Residential Real Estate(1)
Non-real property business assets(1)
Other(1)
Total(1)
(In thousands)
Commercial business:
Commercial and industrial$1,893 $18,738 $584 $774 $631 $22,620 
Owner-occupied CRE4,693 — — — — 4,693 
Non-owner occupied CRE3,424 — — — — 3,424 
Total commercial business10,010 18,738 584 774 631 30,737 
Residential real estate
— — 67 — — 67 
Real estate construction and land development:
Commercial and multifamily
572 — — — — 572 
Consumer— — 30 — — 30 
Total$10,582 $18,738 $681 $774 $631 $31,406 
(1) Balances represent the amortized cost of the loan. If multiple collateral sources secure the loan, the entire balance is presented in the primary collateral category.
Loans Receivable
Loans that were modified as TDR loans are set forth in the following table for the periods indicated:
Three Months Ended March 31,
20212020
Number of
Contracts
Amortized Cost (1) (2)
Number of
Contracts
Amortized Cost (1) (2)
(Dollars in thousands)
Commercial business:
Commercial and industrial24$12,102 13$3,688 
Owner-occupied CRE24,660 42,183 
Non-owner occupied CRE11,979 32,210 
Total commercial business2718,741 208,081 
Residential real estate
1180 — 
Real estate construction and land development:
Residential
— 41,516 
Commercial and multifamily
1450 — — 
Total real estate construction and land development1450 41,516 
Consumer15379 593 
Total44$19,750 29$9,690 
(1) Number of contracts and amortized cost represent loans which have balances as of period end, net of subsequent payments after modifications. Certain modified loans may have been paid-down or charged-off during the three months ended March 31, 2021 and March 31, 2020.
(2) As the Bank did not forgive any principal or interest balance as part of the loan modifications, the Bank’s amortized cost in each loan at the date of modification (pre-modification) did not change as a result of the modification (post-modification).
Troubled debt restructuring loans, subsequently defaulted
The following table presents loans that were modified in a troubled debt restructure and subsequently defaulted within twelve months from the modification date during the periods indicated:
Three Months Ended March 31,
20212020
Number of
Contracts (1)
Amortized Cost (1)
Number of
Contracts (1)
Amortized Cost (1)
(Dollars in thousands)
Commercial business:
Commercial and industrial2$2,792 2$1,873 
Non-owner occupied CRE— 3590 
Total commercial business22,792 52,463 
Total2$2,792 5$2,463 
(1) Number of contracts and amortized cost represent loans which have balances as of period end, net of subsequent payments after modifications. Certain modified loans may have been paid-down or charged-off during the three months ended March 31, 2021 and March 31, 2020.
Troubled debt restructurings on financing receivables
Loans that were modified as TDR loans are set forth in the following table for the periods indicated:
Three Months Ended March 31,
20212020
Number of
Contracts
Amortized Cost (1) (2)
Number of
Contracts
Amortized Cost (1) (2)
(Dollars in thousands)
Commercial business:
Commercial and industrial24$12,102 13$3,688 
Owner-occupied CRE24,660 42,183 
Non-owner occupied CRE11,979 32,210 
Total commercial business2718,741 208,081 
Residential real estate
1180 — 
Real estate construction and land development:
Residential
— 41,516 
Commercial and multifamily
1450 — — 
Total real estate construction and land development1450 41,516 
Consumer15379 593 
Total44$19,750 29$9,690 
(1) Number of contracts and amortized cost represent loans which have balances as of period end, net of subsequent payments after modifications. Certain modified loans may have been paid-down or charged-off during the three months ended March 31, 2021 and March 31, 2020.
(2) As the Bank did not forgive any principal or interest balance as part of the loan modifications, the Bank’s amortized cost in each loan at the date of modification (pre-modification) did not change as a result of the modification (post-modification).