XML 51 R39.htm IDEA: XBRL DOCUMENT v3.8.0.1
LOAN PORTFOLIO (Tables)
9 Months Ended
Sep. 30, 2017
Loan Portfolio Held for Investment
As of September 30,As ofDecember 31,
20172016
(In thousands)
Residential mortgage loans, mainly secured by first mortgages$3,274,340$3,296,031
Commercial loans:
Construction loans129,460124,951
Commercial mortgage loans1,601,6381,568,808
Commercial and Industrial loans (1)2,144,2362,180,455
Total commercial loans3,875,3343,874,214
Finance leases246,084233,335
Consumer loans1,481,4561,483,293
Loans held for investment8,877,2148,886,873
Allowance for loan and lease losses(230,870)(205,603)
Loans held for investment, net $8,646,344$8,681,270
(1) As of September 30, 2017 and December 31, 2016, includes $884.0 million and $853.9 million, respectively, of commercial loans that are secured by real estate but are not dependent upon the real estate for repayment.
Loans Held for Investment on Which Accrual of Interest Income had been Discontinued
Loans held for investment on which accrual of interest income had been discontinued were as follows:
(In thousands)September 30, December 31,
20172016
Non-performing loans:
Residential mortgage$178,530$160,867
Commercial mortgage137,059178,696
Commercial and Industrial84,317146,599
Construction:
Land10,50011,026
Construction-commercial 35,51936,893
Construction-residential7011,933
Consumer:
Auto loans15,80914,346
Finance leases1,8881,335
Other consumer loans8,8098,399
Total non-performing loans held for investment (1) (2)(3)$473,132$560,094
(1)Excludes $8.3 million and $8.1 million of non-performing loans held for sale as of September 30, 2017 and December 31, 2016, respectively.
(2)Amount excludes purchased-credit impaired ("PCI") loans with a carrying value of approximately $157.8 million and $165.8 million as of September 30, 2017 and December 31, 2016, respectively, primarily mortgage loans acquired from Doral Bank in the first quarter of 2015 and from Doral Financial in the second quarter of 2014, as further discussed below. These loans are not considered non-performing due to the application of the accretion method, under which these loans will accrete interest income over the remaining life of the loans using an estimated cash flow analysis.
(3)Non-performing loans exclude $388.8 million and $384.9 million of Troubled Debt Restructuring ("TDR") loans that are in compliance with modified terms and in accrual status as of September 30, 2017 and December 31, 2016, respectively.
Corporation's Aging of Loans Held for Investment Portfolio
The Corporation’s aging of the loans held for investment portfolio is as follows:
Purchased Credit-Impaired Loans Total loans held for investment90 days past due and still accruing (2)
30-59 Days Past Due60-89 Days Past Due90 days or more Past Due (1)Total Past Due
As of September 30, 2017
(In thousands)Current
Residential mortgage:
FHA/VA and other government-guaranteed loans (2) (3) (4)$-$4,300$76,601$80,901$-$40,667$121,568$76,601
Other residential mortgage loans (4)-82,263197,176279,439153,6092,719,7243,152,77218,646
Commercial:
Commercial and Industrial loans12,0111,76387,970101,744-2,042,4922,144,2363,653
Commercial mortgage loans (4)-16,300143,558159,8584,1851,437,5951,601,6386,499
Construction:
Land (4)-16310,71510,878-19,07529,953215
Construction-commercial--35,51935,519-56,05891,577-
Construction-residential--701701-7,2297,930-
Consumer:
Auto loans64,86928,63815,809109,316-724,896834,212-
Finance leases10,9604,2391,88817,087-228,997246,084-
Other consumer loans15,3885,64412,74633,778-613,466647,2443,937
Total loans held for investment$103,228$143,310$582,683$829,221$157,794$7,890,199$8,877,214$109,551
_____________
(1)Includes non-performing loans and accruing loans that are contractually delinquent 90 days or more (i.e., FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days.
(2)It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA or guaranteed by the VA as past-due loans 90 days and still accruing as opposed to non-performing loans since the principal repayment is insured. These balances include $28.9 million of residential mortgage loans insured by the FHA or guaranteed by the VA that are over 15 months delinquent, and are no longer accruing interest as of September 30, 2017.
(3)As of September 30, 2017, includes $45.1 million of defaulted loans collateralizing Government National Mortgage Association ("GNMA") securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans.
(4)According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, other residential mortgage loans, commercial mortgage loans, land loans, construction-residential loans and construction-commercial loans past due 30-59 days as of September 30, 2017 amounted to $9.4 million, $216.1 million, $33.8 million, $0.9 million, $6.4 million and $0.1 million, respectively.

As of December 31, 201630-59 Days Past Due60-89 Days Past Due90 days or more Past Due (1)Total loans held for investment90 days past due and still accruing (2)
(In thousands)Total Past DuePurchased Credit- Impaired Loans Current
Residential mortgage:
FHA/VA and other government-guaranteed loans (2) (3) (4)$-$5,179$77,052$82,231$-$44,627$126,858$77,052
Other residential mortgage loans (4)-94,004177,568271,572162,6762,734,9253,169,17316,701
Commercial:
Commercial and Industrial loans14,1953,724151,967169,886-2,010,5692,180,4555,368
Commercial mortgage loans (4)-4,534181,977186,5113,1421,379,1551,568,8083,281
Construction:
Land (4)-43611,50411,940-19,82631,766478
Construction-commercial--36,89336,893-40,58277,475-
Construction-residential (4)--1,9331,933-13,77715,710-
Consumer:
Auto loans57,14213,52314,34685,011-762,947847,958-
Finance leases7,7141,6711,33510,720-222,615233,335-
Other consumer loans7,6755,25412,32825,257-610,078635,3353,929
Total loans held for investment$86,726$128,325$666,903$881,954$165,818$7,839,101$8,886,873$106,809
____________
(1)Includes non-performing loans and accruing loans that are contractually delinquent 90 days or more (i.e. FHA/VA guaranteed loans and credit cards). Credit card loans continue to accrue finance charges and fees until charged-off at 180 days.
(2)It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA or guaranteed by the VA as past-due loans 90 days and still accruing as opposed to non-performing loans since the principal repayment is insured. These balances include $29.3 million of residential mortgage loans insured by the FHA or guaranteed by the VA that are over 15 months delinquent, and are no longer accruing interest as of December 31, 2016.
(3)As of December 31, 2016, includes $43.7 million of defaulted loans collateralizing GNMA securities for which the Corporation has an unconditional option (but not an obligation) to repurchase the defaulted loans.
(4)According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage, commercial mortgage, and construction loans are considered past due when the borrower is in arrears on two or more monthly payments. FHA/VA government-guaranteed loans, other residential mortgage loans, commercial mortgage loans, land loans and construction-residential loans past due 30-59 days as of December 31, 2016 amounted to $9.9 million, $142.8 million, $4.6 million, $0.7 million and $0.4 million, respectively.
Corporation's Credit Quality Indicators by Loan
The Corporation’s credit quality indicators by loan type as of September 30, 2017 and December 31, 2016 are summarized below:
Commercial Credit Exposure - Credit Risk Profile Based on Creditworthiness Category:
SubstandardDoubtfulLossTotal Adversely Classified (1)Total Portfolio
September 30, 2017
(In thousands)
Commercial mortgage$158,960$6,416$-$165,376$1,601,638
Construction:
Land18,753--18,75329,953
Construction - commercial 35,520--35,52091,577
Construction - residential701--7017,930
Commercial and Industrial142,8003,472798147,0702,144,236
Commercial Credit Exposure - Credit Risk Profile Based on Creditworthiness Category:
SubstandardDoubtfulLossTotal Adversely Classified (1)Total Portfolio
December 31, 2016
(In thousands)
Commercial mortgage$193,391$35,416$-$228,807$1,568,808
Construction:
Land19,345--19,34531,766
Construction - commercial 36,893--36,89377,475
Construction - residential1,933--1,93315,710
Commercial and Industrial133,59967,996784202,3792,180,455
_________
(1)Excludes $8.3 million and $8.1 million of construction-land non-performing loans held for sale as of September 30, 2017 and December 31, 2016, respectively.

Consumer Credit Exposure - Credit Risk Profile based on Payment activity
Residential Real EstateConsumer
September 30, 2017FHA/VA/ Guaranteed (1)Other residential loansAutoFinance LeasesOther Consumer
(In thousands)
Performing$121,568$2,820,633$818,403$244,196$638,435
Purchased Credit-Impaired (2)-153,609---
Non-performing-178,53015,8091,8888,809
Total$121,568$3,152,772$834,212$246,084$647,244
(1) It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA or guaranteed by the VA as past due loans 90 days and still accruing as opposed to non-performing loans since the principal repayment is insured. This balance includes $28.9 million of residential mortgage loans insured by the FHA or guaranteed by the VA that are over 15 months delinquent, and are no longer accruing interest as of September 30, 2017.
(2) PCI loans are excluded from non-performing statistics due to the application of the accretion method, under which these loans will accrete interest income over the remaining life of the loans using estimated cash flow analyses.
Consumer Credit Exposure - Credit Risk Profile based on Payment activity
Residential Real EstateConsumer
December 31, 2016FHA/VA/ Guaranteed (1)Other residential loansAutoFinance LeasesOther Consumer
(In thousands)
Performing$126,858$2,845,630$833,612$232,000$626,936
Purchased Credit-Impaired (2)-162,676---
Non-performing-160,86714,3461,3358,399
Total$126,858$3,169,173$847,958$233,335$635,335
(1) It is the Corporation's policy to report delinquent residential mortgage loans insured by the FHA or guaranteed by the VA as past due loans 90 days and still accruing as opposed to non-performing loans since the principal repayment is insured. This balance includes $29.3 million of residential mortgage loans insured by the FHA or guaranteed by the VA that are over 15 months delinquent, and are no longer accruing interest as of December 31, 2016.
(2) PCI loans are excluded from non-performing statistics due to the application of the accretion method, under which these loans will accrete interest income over the remaining life of the loans using estimated cash flow analyses.
Impaired Loans
Impaired Loans
Quarter EndedNine-Month Period Ended
September 30, 2017
Recorded InvestmentUnpaid Principal BalanceRelated Specific AllowanceYear-To-Date Average Recorded InvestmentInterest Income Recognized on Accrual BasisInterest Income Recognized on Cash BasisInterest Income Recognized on Accrual BasisInterest Income Recognized on Cash Basis
(In thousands)
As of September 30, 2017
With no related specific allowance recorded:
FHA/VA-Guaranteed loans$-$-$-$-$-$-$-$-
Other residential mortgage loans88,479116,636-90,381594911,712427
Commercial:
Commercial mortgage loans22,83227,204-23,40319467583199
Commercial and Industrial Loans8,37911,106-8,56674-208-
Construction:
Land--------
Construction-commercial--------
Construction-residential--------
Consumer:
Auto loans339339-3571-2-
Finance leases--------
Other consumer loans2,0483,028-2,22017255267
$122,077$158,313$-$124,927$880$183$2,557$693
With a related specific allowance recorded:
FHA/VA-Guaranteed loans$-$-$-$-$-$-$-$-
Other residential mortgage loans337,356375,13019,417341,3603,81531111,4581,121
Commercial:
Commercial mortgage loans131,043190,88310,456153,354570181,03888
Commercial and Industrial Loans102,560124,33511,240104,076380174744211
Construction:
Land14,60119,93884814,800122935832
Construction-commercial35,52038,59597936,101----
Construction-residential25235538252----
Consumer:
Auto loans23,16423,1643,64624,917461-1,355-
Finance leases2,2482,271632,53243-140-
Other consumer loans10,43812,1041,46812,2213711597538
$657,182$786,775$48,155$689,613$5,762$527$16,068$1,490
Total:
FHA/VA-Guaranteed loans$-$-$-$-$-$-$-$-
Other residential mortgage loans425,835491,76619,417431,7414,40940213,1701,548
Commercial:
Commercial mortgage loans153,875218,08710,456176,757764851,621287
Commercial and Industrial Loans110,939135,44111,240112,642454174952211
Construction:
Land14,60119,93884814,800122935832
Construction-commercial35,52038,59597936,101----
Construction-residential25235538252----
Consumer:
Auto loans23,50323,5033,64625,274462-1,357-
Finance leases2,2482,271632,53243-140-
Other consumer loans12,48615,1321,46814,441388401,027105
$779,259$945,088$48,155$814,540$6,642$710$18,625$2,183

Impaired Loans
Recorded InvestmentUnpaid Principal BalanceRelated Specific AllowanceYear-To-Date Average Recorded Investment
(In thousands)
As of December 31, 2016
With no related specific allowance recorded:
FHA/VA-Guaranteed loans$-$-$-$-
Other residential mortgage loans67,99682,602-71,003
Commercial:
Commercial mortgage loans72,62091,685-80,713
Commercial and Industrial Loans14,65624,642-17,209
Construction:
Land180233-212
Construction-commercial----
Construction-residential9561,531-956
Consumer:
Auto loans599599-615
Finance leases9494-95
Other consumer loans4,5165,876-4,696
$161,617$207,262$-$175,499
With a related specific allowance recorded:
FHA/VA-Guaranteed loans$-$-$-$-
Other residential mortgage loans374,271423,6488,633380,273
Commercial:
Commercial mortgage loans121,771133,88326,172122,609
Commercial and Industrial Loans138,887165,39922,638149,153
Construction:
Land14,87019,91894715,589
Construction-commercial36,89338,72132438,191
Construction-residential392551134392
Consumer:
Auto loans24,27624,2763,71726,562
Finance leases2,5532,553712,751
Other consumer loans12,37512,7341,78513,322
$726,288$821,683$64,421$748,842
Total:
FHA/VA-Guaranteed loans$-$-$-$-
Other residential mortgage loans442,267506,2508,633451,276
Commercial:
Commercial mortgage loans194,391225,56826,172203,322
Commercial and Industrial Loans153,543190,04122,638166,362
Construction:
Land15,05020,15194715,801
Construction-commercial36,89338,72132438,191
Construction-residential1,3482,0821341,348
Consumer:
Auto loans24,87524,8753,71727,177
Finance leases2,6472,647712,846
Other consumer loans16,89118,6101,78518,018
$887,905$1,028,945$64,421$924,341
Interest income of approximately $7.2 million ($6.4 million on an accrual basis and $0.8 million on a cash basis) and $21.7 million ($18.9 million on an accrual basis and $2.8 on a million cash basis) was recognized on impaired loans for the third quarter and nine-month period ended September 30, 2016, respectively.
Activity for Impaired loans
The following tables show the activity for impaired loans and the related specific reserve for the quarters and nine-month periods ended September 30, 2017 and 2016:
Quarter EndedNine-Month Period Ended
September 30, September 30,
2017201620172016
(In thousands)
Impaired Loans:
Balance at beginning of period$735,625$953,774$887,905$806,509
Loans determined impaired during the period71,88426,613110,488261,544
Charge-offs (1)(6,472)(30,426)(66,959)(50,027)
Loans sold, net of charge-offs--(53,245)-
Increases to impaired loans-additional disbursements3,2151,0914,4542,852
Foreclosures(5,657)(11,856)(36,347)(28,466)
Loans no longer considered impaired(542)(2,674)(3,324)(27,560)
Paid in full or partial payments(18,794)(23,668)(63,713)(51,998)
Balance at end of period$779,259$912,854$779,259$912,854
(1)For the nine-month period ended September 30, 2017, includes a charge-off of $10.7 million related to the sale of the PREPA credit line, as further discussed below.
Activity for Specific Reserve
Quarter EndedNine-Month Period Ended
September 30, September 30,
2017201620172016
(In thousands)
Specific Reserve:
Balance at beginning of period$40,794$86,372$64,42152,581
Provision for loan losses13,81916,61950,01470,011
Net charge-offs(6,458)(30,309)(66,280)(49,910)
Balance at end of period$48,155$72,682$48,155$72,682
Carrying Value of Acquired Loans
The carrying amount of PCI loans was as follows:
As of
September 30, December 31,
20172016
(In thousands)
Residential mortgage loans$153,609$162,676
Commercial mortgage loans4,1853,142
Total PCI loans$157,794$165,818
Allowance for loan losses(10,235)(6,857)
Total PCI loans, net of allowance for loan losses$147,559$158,961
Accretable Yield
Changes in the accretable yield of PCI loans for the quarters and nine-month periods ended September 30, 2017 and 2016 were as follows:
Quarter Ended Nine-Month Period Ended
September 30, September 30, September 30, September 30,
2017201620172016
(In thousands)
Balance at beginning of period$108,971$122,179$116,462$118,385
Accretion recognized in earnings(2,656)(2,875)(8,177)(8,691)
Reclassification (to) from non-accretable--(1,970)9,610
Balance at end of period$106,315$119,304$106,315$119,304
Selected Information on TDRs Includes Recorded Investment by Loan Class and Modification Type
Selected information on TDR loans that includes the recorded investment by loan class and modification type is summarized in the following tables. This information reflects all TDRs:
September 30, 2017
Interest rate below marketMaturity or term extensionCombination of reduction in interest rate and extension of maturityForgiveness of principal and/or interestOther (1)Total
(In thousands)
Troubled Debt Restructurings:
Non-FHA/VA Residential Mortgage loans$26,013$8,308$268,035$-$60,913$363,269
Commercial Mortgage Loans6,6392,12432,697-10,18551,645
Commercial and Industrial Loans2,11520,74916,0269449,03988,023
Construction Loans:
Land176,6452,181-3209,163
Construction-commercial ---35,520-35,520
Construction-residential----217217
Consumer Loans - Auto-1,37114,721-7,41223,504
Finance Leases-2552,016--2,271
Consumer Loans - Other8212,0537,3232501,73612,183
Total Troubled Debt Restructurings $35,605$41,505$342,999$35,864$129,822$585,795
(1) Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation, or a combination of the concessions listed in the table.

December 31, 2016
Interest rate below marketMaturity or term extensionCombination of reduction in interest rate and extension of maturityForgiveness of principal and/or interestOther (1)Total
(In thousands)
Troubled Debt Restructurings:
Non-FHA/VA Residential Mortgage loans$29,254$8,373$280,588$-$57,594$375,809
Commercial Mortgage Loans6,0442,00730,005-10,68648,742
Commercial and Industrial Loans2,11166,83016,35986347,358133,521
Construction Loans:
Land-6,7352,219-4089,362
Construction-commercial---36,893-36,893
Construction-residential----357357
Consumer Loans - Auto-1,70614,698-8,47124,875
Finance Leases-3662,281--2,647
Consumer Loans - Other2362,5189,6622992,12714,842
Total Troubled Debt Restructurings $37,645$88,535$355,812$38,055$127,001$647,048
(1) Other concessions granted by the Corporation include deferral of principal and/or interest payments for a period longer than what would be considered insignificant, payment plans under judicial stipulation or a combination of the concessions listed in the table.
Corporation's TDR Activity
The following table presents the Corporation's TDR loans activity:
Quarter EndedNine-Month Period Ended
September 30,September 30,
2017201620172016
(In thousands)
Beginning balance of TDRs$568,543$670,991$647,048$661,591
New TDRs29,10115,59683,36866,075
Increases to existing TDRs - additional
disbursements2,6505173,4041,573
Charge-offs post modification (1)(2,949)(5,445)(26,976)(15,899)
Sales, net of charge-offs--(53,245)-
Foreclosures(3,564)(5,567)(24,085)(12,967)
Removed from the TDR classification---(3,031)
Paid-off and partial payments(7,986)(19,774)(43,719)(41,024)
Ending balance of TDRs$585,795$656,318$585,795$656,318
(1)For the nine-month period ended September 30, 2017, includes a charge-off of $10.7 million related to the sale of the PREPA credit line.
Breakdown Between Accrual and Nonaccrual Status of TDRs
The following table provides a breakdown of the TDR loans by those in accrual and nonaccrual status:
As of September 30, 2017
AccrualNonaccrual (1) Total TDRs
(In thousands)
Non-FHA/VA Residential Mortgage loans$281,256$82,013$363,269
Commercial Mortgage Loans33,69517,95051,645
Commercial and Industrial Loans38,07749,94688,023
Construction Loans:
Land7,5991,5649,163
Construction-commercial -35,52035,520
Construction-residential-217217
Consumer Loans - Auto15,5997,90523,504
Finance Leases2,0452262,271
Consumer Loans - Other10,5631,62012,183
Total Troubled Debt Restructurings$388,834$196,961$585,795
(1) Included in non-accrual loans are $82.8 million in loans that are performing under the terms of the restructuring agreement but are reported in nonaccrual status until the restructured loans meet the criteria of sustained payment performance under the revised terms for reinstatement to accrual status and are deemed fully collectible.

As of December 31, 2016
AccrualNonaccrual (1) Total TDRs
(In thousands)
Non- FHA/VA Residential Mortgage loans$295,656$80,153$375,809
Commercial Mortgage Loans32,34016,40248,742
Commercial and Industrial Loans18,496115,025133,521
Construction Loans:
Land7,7321,6309,362
Construction-commercial-36,89336,893
Construction-residential-357357
Consumer Loans - Auto16,2538,62224,875
Finance Leases2,5421052,647
Consumer Loans - Other11,8682,97414,842
Total Troubled Debt Restructurings$384,887$262,161$647,048
(1) Included in non-accrual loans are $110.6 million in loans that are performing under the terms of the restructuring agreement but are reported in non-accrual status until the restructured loans meet the criteria of sustained payment performance under the revised terms for reinstatement to accrual status and are deemed fully collectible.
Schedule Of Troubled Debt Restructurings Table [Text Block]
Quarter Ended September 30, 2017
Number of contractsPre-modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings:
Non-FHA/VA Residential Mortgage loans25$3,358$3,358
Commercial Mortgage Loans42,5692,318
Commercial and Industrial Loans821,07921,019
Land11818
Consumer Loans - Auto1091,5681,568
Consumer Loans - Other199796820
Total Troubled Debt Restructurings346$29,388$29,101
Nine-Month Period Ended September 30, 2017
Number of contractsPre-modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings:
Non-FHA/VA Residential Mortgage loans113$17,585$17,349
Commercial Mortgage Loans1225,27424,783
Commercial and Industrial Loans1332,15332,093
Construction Loans:
Land24346
Consumer Loans - Auto3835,7415,741
Finance Leases22548548
Consumer Loans - Other6022,7562,808
Total Troubled Debt Restructurings1,147$84,100$83,368

Quarter Ended September 30, 2016
Number of contractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings:
Non-FHA/VA Residential Mortgage loans55$8,631$8,449
Commercial Mortgage Loans5679712
Commercial and Industrial Loans21,4321,432
Construction Loans:
Land4158155
Consumer Loans - Auto1893,2623,262
Finance Leases11295295
Consumer Loans - Other2571,2691,291
Total Troubled Debt Restructurings523$15,726$15,596
Nine-Month Period Ended September 30, 2016
Number of contractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings:
Non-FHA/VA Residential Mortgage loans167$25,040$24,040
Commercial Mortgage Loans83,3513,380
Commercial and Industrial Loans2121,69321,693
Construction Loans:
Land4158155
Consumer Loans - Auto61210,96110,961
Finance Leases591,4771,477
Consumer Loans - Other8624,3124,369
Total Troubled Debt Restructurings1,733$66,992$66,075
Loan Modifications Considered Troubled Debt Restructurings Defaulted
Quarter Ended September 30,
20172016
Number of contractsRecorded InvestmentNumber of contractsRecorded Investment
(Dollars in thousands)
Non-FHA/VA Residential Mortgage loans16$1,79514$1,707
Consumer Loans - Auto459568
Consumer Loans - Other532232293
Finance Leases--130
Total 73$2,07742$1,898

Nine-Month Period Ended September 30,
20172016
Number of contractsRecorded InvestmentNumber of contractsRecorded Investment
(Dollars in thousands)
Non-FHA/VA Residential Mortgage loans38$4,68635$4,863
Commercial Mortgage Loans157--
Consumer Loans - Auto1318945702
Consumer Loans - Other9938789339
Finance Leases--243
Total 151$5,319171$5,947
Loan Restructuring and Effect on Allowance for Loan and Lease Losses
September 30, 2017September 30, 2016
(In thousands)
Principal balance$35,603$38,004
Amount charged off$-$-
(Release) charges to the provision for loan losses$(1,080)$2,660
Allowance for loan losses at end of period$4,061$3,521
Past Due Purchased Credit Impaired Table [Text Block]
The following tables present PCI loans by past due status as of September 30, 2017 and December 31, 2016:
As of September 30, 201730-59 Days 60-89 Days 90 days or more Total Past Due Total PCI loans
Current
(In thousands)
Residential mortgage loans $-$14,310$28,820$43,130$110,479$153,609
Commercial mortgage loans -4712,2852,7561,4294,185
Total (1)$-$14,781$31,105$45,886$111,908$157,794
_____________
(1)According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage and commercial mortgage loans are considered past due when the borrower is in arrears on two or more monthly payments. PCI residential mortgage loans and commercial mortgage loans past due 30-59 days as of September 30, 2017 amounted to $27.5 million and $0.4 million, respectively.
As of December 31, 201630-59 Days 60-89 Days 90 days or more Total Past Due Total PCI loans
Current
(In thousands)
Residential mortgage loans $-$11,892$27,849$39,741$122,935$162,676
Commercial mortgage loans -3551,1501,5051,6373,142
Total (1)$-$12,247$28,999$41,246$124,572$165,818
(1)According to the Corporation's delinquency policy and consistent with the instructions for the preparation of the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) required by the Federal Reserve Board, residential mortgage and commercial mortgage loans are considered past due when the borrower is in arrears on two or more monthly payments. PCI residential mortgage loans and commercial mortgage loans past due 30-59 days as of December 31, 2016 amounted to $22.3 million and $0.1 million, respectively.
Changes In Carrying Amount Of Purchased Credit Impaired Loans Table [Text Block]
Changes in the carrying amount of loans accounted for pursuant to ASC 310-30 were as follows:
Quarter EndedNine-Month Period Ended
September 30, 2017September 30, 2016September 30, 2017September 30, 2016
(In thousands)
Balance at beginning of period $160,368$169,690$165,818$173,913
Accretion2,6562,8758,1778,691
Collections (4,225)(4,184)(13,327)(13,136)
Foreclosures(1,005)(240)(2,874)(1,327)
Ending balance $157,794$168,141$157,794$168,141
Allowance for loan losses(10,235)(6,857)(10,235)(6,857)
Ending balance, net of allowance for loan losses$147,559$161,284$147,559$161,284
Allowance For Credit Losses On Purchased Credit Impaired Loans Table [Text Block]
Changes in the allowance for loan losses related to PCI loans follows:
Quarter Ended Nine-Month Period Ended
September 30, 2017September 30, 2016September 30, 2017September 30, 2016
(In thousands)
Balance at beginning of period $9,446$6,857$6,857$3,962
Provision for loan losses789-3,3782,895
Balance at end of period$10,235$6,857$10,235$6,857