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LOAN PORTFOLIO (Tables)
6 Months Ended
Jun. 30, 2018
Loan Portfolio Held for Investment
As of June 30,As ofDecember 31,
20182017
(In thousands)
Residential mortgage loans, mainly secured by first mortgages$3,238,001$3,290,957
Commercial loans:
Construction loans (1)84,683111,397
Commercial mortgage loans (1)(2)1,533,3081,614,972
Commercial and Industrial loans (3)2,009,0492,083,253
Total commercial loans3,627,0403,809,622
Finance leases283,274257,462
Consumer loans1,491,9761,492,435
Loans held for investment8,640,2918,850,476
Allowance for loan and lease losses(222,035)(231,843)
Loans held for investment, net $8,418,256$8,618,633
(1) During the first quarter of 2018, the Corporation transferred $57.2 million (net of fair value write-downs of $9.7 million) in non-performing loans to held for sale. Loans transferred to held for sale consisted of a $30.0 million non-performing construction loan (net of a $5.1 million fair value write-down) and two non-performing commercial mortgage loans totaling $27.2 million (net of fair value write-downs of $4.6 million).
(2)During the second quarter of 2018, the Corporation completed the sale of a $10.4 million non-performing commercial mortgage loan that was among the loans transferred to held for sale in the first quarter of 2018.
(3) As of June 30, 2018 and December 31, 2017, includes $792.0 million and $833.5 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:
As ofAs of
June 30, December 31,
(In thousands)20182017
Non-performing loans:
Residential mortgage$162,539$178,291
Commercial mortgage (1)142,614156,493
Commercial and Industrial76,88785,839
Construction:
Land12,92615,026
Construction-commercial (1)-35,100
Construction-residential1,2221,987
Consumer:
Auto loans12,29910,211
Finance leases2,0321,237
Other consumer loans8,6225,370
Total non-performing loans held for investment (2)(3)(4)$419,141$489,554
(1)During the first quarter of 2018, the Corporation transferred $57.2 million (net of fair value write-downs of $9.7 million) in non-performing loans to held for sale. Loans transferred to held for sale consisted of a $30.0 million non-performing construction loan (net of a $5.1 million fair value write-down) and two non-performing commercial mortgage loans totaling $27.2 million (net of fair value write-downs of $4.6 million).
(2)Excludes $54.5 million and $8.3 million of non-performing loans held for sale as of June 30, 2018 and December 31, 2017, respectively.
(3)Amount excludes purchased-credit impaired (“PCI”) loans with a carrying value of approximately $152.2 million and $158.2 million as of June 30, 2018 and December 31, 2017, 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.
(4)Non-performing loans exclude $393.3 million and $374.7 million of Troubled Debt Restructuring (“TDR”) loans that are in compliance with modified terms and in accrual status as of June 30, 2018 and December 31, 2017, respectively.
Corporation's Aging of Loans Held for Investment Portfolio
The Corporation’s aging of the loans held for investment portfolio is as follows:
Purchased Credit-Impaired Loans
30-59 Days Past Due60-89 Days Past Due90 days or more Past Due (1)(2)(3)Total Past DueTotal loans held for investment90 days past due and still accruing (1)(2)(3)
As of June 30, 2018
(In thousands)Current
Residential mortgage:
FHA/VA government-guaranteed loans (2)(3)(4)$-$3,810$109,995$113,805$-$37,698$151,503$109,995
Other residential mortgage loans (4)-55,861177,340233,201148,0252,705,2723,086,49814,801
Commercial:
Commercial and Industrial loans2,76810,26177,45690,485-1,918,5642,009,049569
Commercial mortgage loans (4)-2,401145,760148,1614,2171,380,9301,533,3083,146
Construction:
Land (4)-6818,83618,904-6,13525,0395,910
Construction-commercial--1,0131,013-52,80653,8191,013
Construction-residential (4)--1,2221,222-4,6035,825-
Consumer:
Auto loans32,5276,90612,29951,732-804,224855,956-
Finance leases5,7771,4042,0329,213-274,061283,274-
Other consumer loans8,1125,03914,64927,800-608,220636,0206,027
Total loans held for investment$49,184$85,750$560,602$695,536$152,242$7,792,513$8,640,291$141,461
_____________
(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 Corporationʼs 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 $30.1 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 June 30, 2018.
(3)As of June 30, 2018, includes $78.7 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 Corporationʼs 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 June 30, 2018 amounted to $6.8 million, $112.0 million, $3.0 million, $0.4 million, $0.3 million and $0.6 million, respectively.

As of December 31, 201730-59 Days Past Due60-89 Days Past Due90 days or more Past Due (1)(2)(3)Total loans held for investment90 days past due and still accruing (1)(2)(3)
(In thousands)Total Past DuePurchased Credit- Impaired Loans Current
Residential mortgage:
FHA/VA government-guaranteed loans (2) (3) (4)$-$6,792$102,815$109,607$-$29,332$138,939$102,815
Other residential mortgage loans (4)-92,502193,750286,252153,9912,711,7753,152,01815,459
Commercial:
Commercial and Industrial loans8,97157688,15697,703-1,985,5502,083,2532,317
Commercial mortgage loans (4)-7,525163,180170,7054,1831,440,0841,614,9726,687
Construction:
Land (4)-12415,17715,301-11,63026,931151
Construction-commercial--35,10035,100-41,45676,556-
Construction-residential-951,9872,082-5,8287,910-
Consumer:
Auto loans57,56023,78310,21191,554-752,777844,331-
Finance leases10,5493,4841,23715,270-242,192257,462-
Other consumer loans10,7765,0529,36125,189-622,915648,1043,991
Total loans held for investment$87,856$139,933$620,974$848,763$158,174$7,843,539$8,850,476$131,420
____________
(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 Corporationʼs 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 $29.9 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 December 31, 2017.
(3)As of December 31, 2017, includes $62.1 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 Corporationʼs 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, and land loans past due 30-59 days as of December 31, 2017 amounted to $6.0 million, $224.0 million, $9.0 million, and $2.5 million, respectively.
Corporation's Credit Quality Indicators by Loan
The Corporation’s credit quality indicators by loan type as of June 30, 2018 and December 31, 2017 are summarized below:
Commercial Credit Exposure - Credit Risk Profile Based on Creditworthiness Category:
SubstandardDoubtfulLossTotal Adversely Classified (1)Total Portfolio
June 30, 2018
(In thousands)
Commercial mortgage$291,045$-$-$291,045$1,533,308
Construction:
Land14,350--14,35025,039
Construction - commercial ----53,819
Construction - residential1,222--1,2225,825
Commercial and Industrial123,8555,072341129,2682,009,049
Commercial Credit Exposure - Credit Risk Profile Based on Creditworthiness Category:
SubstandardDoubtfulLossTotal Adversely Classified (1)Total Portfolio
December 31, 2017
(In thousands)
Commercial mortgage$257,503$4,166$-$261,669$1,614,972
Construction:
Land15,971490-16,46126,931
Construction - commercial 35,100--35,10076,556
Construction - residential1,987--1,9877,910
Commercial and Industrial154,4163,854676158,9462,083,253
_________
(1)Excludes non-performing loans held for sale of $54.5 million ($16.8 million commercial mortgage, $30.0 million construction-commercial, and $7.7 million construction-land) and $8.3 million (construction-land) as of June 30, 2018 and December 31, 2017, respectively.

Consumer Credit Exposure - Credit Risk Profile Based on Payment Activity
Residential Real EstateConsumer
June 30, 2018FHA/VA/ Guaranteed (1)Other residential loansAutoFinance LeasesOther Consumer
(In thousands)
Performing$151,503$2,775,934$843,657$281,242$627,398
Purchased Credit-Impaired (2)-148,025---
Non-performing-162,53912,2992,0328,622
Total$151,503$3,086,498$855,956$283,274$636,020
(1) It is the Corporationʼs policy to report delinquent residential mortgage loans insured by the FHA or guaranteed by the VA as 90 days past-due loans and still accruing as opposed to non-performing loans since the principal repayment is insured. This balance includes $30.1 million of residential mortgage loans insured by the FHA or guaranteed by the VA, which are over 15 months delinquent, and are no longer accruing interest as of June 30, 2018.
(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, 2017FHA/VA/ Guaranteed (1)Other residential loansAutoFinance LeasesOther Consumer
(In thousands)
Performing$138,939$2,819,736$834,120$256,225$642,734
Purchased Credit-Impaired (2)-153,991---
Non-performing-178,29110,2111,2375,370
Total$138,939$3,152,018$844,331$257,462$648,104
(1) It is the Corporationʼs policy to report delinquent residential mortgage loans insured by the FHA or guaranteed by the VA as 90 days past-due loans and still accruing as opposed to non-performing loans since the principal repayment is insured. This balance includes $29.9 million of residential mortgage loans insured by the FHA or guaranteed by the VA, which are over 15 months delinquent, and are no longer accruing interest as of December 31, 2017.
(2) PCI loans are excluded from non-performing statistics due to the application of the accretion method, under which these loans will accrete interest income over the remaining life of the loans using estimated cash flow analyses.
Impaired Loans
Impaired Loans
Quarter EndedSix-Month Period Ended
June 30, 2018
Recorded InvestmentUnpaid Principal BalanceRelated Specific AllowanceYear-To-Date Average Recorded InvestmentInterest Income Recognized on Accrual BasisInterest Income Recognized on Cash BasisInterest Income Recognized on Accrual BasisInterest Income Recognized on Cash Basis
(In thousands)
As of June 30, 2018
With no related specific allowance recorded:
FHA/VA-Guaranteed loans$-$-$-$-$-$-$-$-
Other residential mortgage loans121,396163,583-123,0587881931,529351
Commercial:
Commercial mortgage loans58,992100,247-62,8921194120178
Commercial and Industrial loans43,56660,380-45,086496892020
Consumer:
Auto loans326326-3424-5-
Other consumer loans2,4542,801-2,6393597221
$226,734$327,337$-$234,017$1,442$251$2,727$470
With a related specific allowance recorded:
FHA/VA-Guaranteed loans$-$-$-$-$-$-$-$-
Other residential mortgage loans287,689312,86819,804290,0793,5701787,089473
Commercial:
Commercial mortgage loans116,583127,99512,204119,0587373071,397354
Commercial and Industrial loans67,80580,85010,59269,293128825324
Construction:
Land11,00919,8681,02211,5222374715
Construction-residential25235539252----
Consumer:
Auto loans19,36719,3673,69720,484385-779-
Finance leases1,5941,5941621,75428-59-
Other consumer loans9,1019,5841,9949,4342412548953
$513,400$572,481$49,514$521,876$5,112$525$10,113$919
Total:
FHA/VA-Guaranteed loans$-$-$-$-$-$-$-$-
Other residential mortgage loans409,085476,45119,804413,1374,3583718,618824
Commercial:
Commercial mortgage loans175,575228,24212,204181,9508563481,598432
Commercial and Industrial loans111,371141,23010,592114,379624161,17344
Construction:
Land11,00919,8681,02211,5222374715
Construction-commercial--------
Construction-residential25235539252----
Consumer:
Auto loans19,69319,6933,69720,826389-784-
Finance leases1,5941,5941621,75428-59-
Other consumer loans11,55512,3851,99412,0732763456174
$740,134$899,818$49,514$755,893$6,554$776$12,840$1,389

Impaired Loans
Recorded InvestmentUnpaid Principal BalanceRelated Specific AllowanceYear-To-Date Average Recorded Investment
(In thousands)
As of December 31, 2017
With no related specific allowance recorded:
FHA/VA-Guaranteed loans$-$-$-$-
Other residential mortgage loans116,818154,048-120,241
Commercial:
Commercial mortgage loans65,100100,612-86,563
Commercial and Industrial loans28,29231,254-28,567
Construction:
Land4849-48
Consumer:
Auto loans267267-290
Other consumer loans2,5213,688-2,745
$213,046$289,918$-$238,454
With a related specific allowance recorded:
FHA/VA-Guaranteed loans$-$-$-$-
Other residential mortgage loans316,616349,28422,086318,606
Commercial:
Commercial mortgage loans87,814124,0849,78393,720
Commercial and Industrial loans90,008112,00512,35992,666
Construction:
Land11,86519,9731,40214,126
Construction-commercial35,10138,59556035,996
Construction-residential25235555252
Consumer:
Auto loans22,33822,3383,66524,328
Finance leases2,1842,1841042,428
Other consumer loans11,08411,8301,39611,579
$577,262$680,648$51,410$593,701
Total:
FHA/VA-Guaranteed loans$-$-$-$-
Other residential mortgage loans433,434503,33222,086438,847
Commercial:
Commercial mortgage loans152,914224,6969,783180,283
Commercial and Industrial loans118,300143,25912,359121,233
Construction:
Land11,91320,0221,40214,174
Construction-commercial35,10138,59556035,996
Construction-residential25235555252
Consumer:
Auto loans22,60522,6053,66524,618
Finance leases2,1842,1841042,428
Other consumer loans13,60515,5181,39614,324
$790,308$970,566$51,410$832,155
Interest income of approximately $6.8 million ($6.3 million on an accrual basis and $0.5 million on a cash basis) and $13.6 million ($12.4 million on an accrual basis and $1.2 million on a cash basis) was recognized on impaired loans for the second quarter and six-month period ended June 30, 2017, respectively.
Activity for Impaired loans
The following tables show the activity for impaired loans and the related specific reserve for the quarters and six-month periods ended June 30, 2018 and 2017:
Quarter EndedSix-Month Period Ended
June 30, June 30,
2018201720182017
(In thousands)
Impaired Loans:
Balance at beginning of period$746,280$807,198$790,308$887,905
Loans determined impaired during the period34,27318,97695,68138,604
Charge-offs (1)(2)(13,207)(43,083)(30,420)(60,487)
Loans sold, net of charge-offs--(4,121)(53,245)
Increases to existing impaired loans776987,0751,239
Foreclosures(7,777)(21,233)(19,452)(30,690)
Loans no longer considered impaired(2,433)(1,890)(3,940)(2,782)
Loans transferred to held for sale--(57,213)-
Paid in full or partial payments(17,079)(25,041)(37,784)(44,919)
Balance at end of period$740,134$735,625$740,134$735,625
(1)For the six-month period ended June 30, 2018 includes charge-offs totaling $9.7 million associated with the $57.2 million in non-performing loans transferred to held for sale.
(2)For the six-month period ended June 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 EndedSix-Month Period Ended
June 30, June 30,
2018201720182017
(In thousands)
Specific Reserve:
Balance at beginning of period$56,930$66,311$51,41064,421
Provision for loan losses5,75317,56328,45636,195
Net charge-offs(13,169)(43,080)(30,352)(59,822)
Balance at end of period$49,514$40,794$49,514$40,794
Carrying Value of Acquired Loans
The carrying amounts of PCI loans were as follows:
As of
June 30, December 31,
20182017
(In thousands)
Residential mortgage loans$148,025$153,991
Commercial mortgage loans4,2174,183
Total PCI loans$152,242$158,174
Allowance for loan losses(11,354)(11,251)
Total PCI loans, net of allowance for loan losses$140,888$146,923
Accretable Yield
Changes in the accretable yield of PCI loans for the quarters and six-month periods ended June 30, 2018 and 2017 were as follows:
Quarter Ended Six-Month Period Ended
June 30, June 30, June 30, June 30,
2018201720182017
(In thousands)
Balance at beginning of period$101,059$113,665$103,682$116,462
Accretion recognized in earnings(2,570)(2,724)(5,193)(5,521)
Reclassification (to) from non-accretable-(1,970)-(1,970)
Balance at end of period$98,489$108,971$98,489$108,971
Selected Information on TDRs Includes Recorded Investment by Loan Class and Modification Type
Selected information on TDR loans held for investment that includes the recorded investment by loan class and modification type is summarized in the following tables. This information reflects all TDRs held for investment:
June 30, 2018
Interest rate below marketMaturity or term extensionCombination of reduction in interest rate and extension of maturityForgiveness of principal and/or interestForbearance AgreementOther (1)Total
(In thousands)
Troubled Debt Restructurings:
Non-FHA/VA Residential Mortgage loans$23,972$8,481$249,820$-$158$60,423$342,854
Commercial Mortgage loans5,59431,64635,499-1,9709,57284,281
Commercial and Industrial loans1,23920,22114,562-4,53451,11391,669
Construction loans:-
Land173,6972,149--3816,244
Construction-commercial (2)-------
Construction-residential-----217217
Consumer loans - Auto-1,74611,666--6,28019,692
Finance leases-1581,436---1,594
Consumer loans - Other1,1781,6125,932216-1,70710,645
Total Troubled Debt Restructurings $32,000$67,561$321,064$216$6,662$129,693$557,196
(1) Other concessions granted by the Corporation included 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.
(2)Excludes TDRs held for sale amounting to $30.0 million as of June 30, 2018.

December 31, 2017
Interest rate below marketMaturity or term extensionCombination of reduction in interest rate and extension of maturityForgiveness of principal and/or interestForbearance AgreementOther (1)Total
(In thousands)
Troubled Debt Restructurings:
Non-FHA/VA Residential Mortgage loans$25,964$8,318$267,578$-$-$62,070$363,930
Commercial Mortgage loans6,5632,09431,870--10,28550,812
Commercial and Industrial loans2,51020,64816,049-6,62348,28294,112
Construction loans:
Land183,9412,186--3316,476
Construction-commercial---35,100--35,100
Construction-residential-----217217
Consumer loans - Auto-1,34714,233--7,02522,605
Finance leases-2381,946---2,184
Consumer loans - Other8922,0976,891217-1,68611,783
Total Troubled Debt Restructurings $35,947$38,683$340,753$35,317$6,623$129,896$587,219
(1) Other concessions granted by the Corporation included 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 Corporationʼs TDR loans held for investment activity:
Quarter EndedSix-Month Period Ended
June 30,June 30,
2018201720182017
(In thousands)
Beginning balance of TDRs$572,376$602,364$587,219$647,048
New TDRs13,22813,36856,64754,267
Increases to existing TDRs753306,846754
Charge-offs post modification (1)(2)(8,616)(9,365)(17,787)(24,027)
Sales, net of charge-offs---(53,245)
Foreclosures(3,759)(16,150)(10,802)(20,521)
TDR transferred to held for sale, net of charge-off--(30,000)-
Paid-off and partial payments(16,108)(22,004)(34,927)(35,733)
Ending balance of TDRs$557,196$568,543$557,196$568,543
(1)The six-month period ended June 30, 2018 includes a charge-off of $5.1 million associated with a $30.0 million construction loan transferred to held for sale.
(2)The six-month period ended June 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 held for investment by those in accrual and nonaccrual status:
As of June 30, 2018
AccrualNonaccrual (1) Total TDRs
(In thousands)
Non-FHA/VA Residential Mortgage loans$270,358$72,496$342,854
Commercial Mortgage loans54,35429,92784,281
Commercial and Industrial loans43,47848,19191,669
Construction loans:
Land1,0915,1536,244
Construction-commercial (2)---
Construction-residential-217217
Consumer loans - Auto13,3456,34719,692
Finance leases1,3342601,594
Consumer loans - Other9,3211,32410,645
Total Troubled Debt Restructurings$393,281$163,915$557,196
(1)Included in non-accrual loans are $51.7 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.
(2)Excludes a $30.0 million non-performing construction loans transferred to held for sale during the first quarter of 2018.

As of December 31, 2017
AccrualNonaccrual (1) Total TDRs
(In thousands)
Non- FHA/VA Residential Mortgage loans$280,729$83,201$363,930
Commercial Mortgage loans23,32927,48350,812
Commercial and Industrial loans41,53652,57694,112
Construction loans:
Land1,2915,1856,476
Construction-commercial-35,10035,100
Construction-residential-217217
Consumer loans - Auto15,5487,05722,605
Finance leases1,9682162,184
Consumer loans - Other10,2941,48911,783
Total Troubled Debt Restructurings$374,695$212,524$587,219
(1)Included in non-accrual loans are $88.6 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 June 30, 2018
Number of contractsPre-modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings:
Non-FHA/VA Residential Mortgage loans19$2,034$1,934
Commercial Mortgage loans25,7655,765
Commercial and Industrial loans33,4533,128
Construction loans:
Land19797
Consumer loans - Auto761,2451,239
Consumer loans - Other2311,0341,065
Total Troubled Debt Restructurings332$13,628$13,228
Six-Month Period Ended June 30, 2018
Number of contractsPre-modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings:
Non-FHA/VA Residential Mortgage loans43$4,642$4,548
Commercial Mortgage loans542,51142,523
Commercial and Industrial loans66,0505,710
Construction loans:
Land19797
Consumer loans - Auto1211,9251,919
Consumer loans - Other3671,8191,850
Total Troubled Debt Restructurings543$57,044$56,647

Quarter Ended June 30, 2017
Number of contractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings:
Non-FHA/VA Residential Mortgage loans48$9,577$9,483
Commercial Mortgage loans2267267
Commercial and Industrial loans2326326
Consumer loans - Auto1221,9261,926
Finance leases14362362
Consumer loans - Other1939911,004
Total Troubled Debt Restructurings381$13,449$13,368
Six-Month Period Ended June 30, 2017
Number of contractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings:
Non-FHA/VA Residential Mortgage loans88$14,227$13,991
Commercial Mortgage loans822,70522,465
Commercial and Industrial loans511,07411,074
Construction loans:
Land12528
Consumer loans - Auto2744,1734,173
Finance leases22548548
Consumer loans - Other4031,9601,988
Total Troubled Debt Restructurings801$54,712$54,267
Loan Modifications Considered Troubled Debt Restructurings Defaulted
Quarter Ended June 30,
20182017
Number of contractsRecorded InvestmentNumber of contractsRecorded Investment
(Dollars in thousands)
Non-FHA/VA Residential Mortgage loans6$68119$2,614
Consumer loans - Auto31514569
Consumer loans - Other2810029103
Total 65$1,29553$2,786

Six-Month Period Ended June 30,
20182017
Number of contractsRecorded InvestmentNumber of contractsRecorded Investment
(Dollars in thousands)
Non-FHA/VA Residential Mortgage loans10$1,06822$2,891
Commercial Mortgage loans--157
Consumer loans - Auto335379130
Consumer loans - Other3915446164
Finance leases122--
Total 83$1,78178$3,242
Loan Restructuring and Effect on Allowance for Loan and Lease Losses
June 30, 2018June 30, 2017
(In thousands)
Principal balance deemed collectible at end of period$64,559$36,141
Amount charged off$1,137$-
Charges to the provision for loan losses$1,902$388
Allowance for loan losses at end of period$4,611$5,529
Past Due Purchased Credit Impaired Table [Text Block]
The following tables present PCI loans by past due status as of June 30, 2018 and December 31, 2017:
As of June 30, 201830-59 Days 60-89 Days 90 days or more Total Past Due Total PCI loans
Current
(In thousands)
Residential mortgage loans $-$8,588$27,024$35,612$112,413$148,025
Commercial mortgage loans --3,2523,2529654,217
Total (1)$-$8,588$30,276$38,864$113,378$152,242
_____________
(1)According to the Corporationʼs 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 two or more monthly payments. PCI residential mortgage loans past due 30-59 days as of June 30, 2018 amounted to $11.7 million. No PCI commercial mortgage loan was 30-59 days past due as of June 30, 2018.
As of December 31, 201730-59 Days 60-89 Days 90 days or more Total Past Due Total PCI loans
Current
(In thousands)
Residential mortgage loans $-$16,600$26,471$43,071$110,920$153,991
Commercial mortgage loans -3552,8343,1899944,183
Total (1)$-$16,955$29,305$46,260$111,914$158,174
(1)According to the Corporationʼs 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 two or more monthly payments. PCI residential mortgage loans and commercial mortgage loans past due 30-59 days as of December 31, 2017 amounted to $28.1 million and $0.2 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 EndedSix-Month Period Ended
June 30, 2018June 30, 2017June 30, 2018June 30, 2017
(In thousands)
Balance at beginning of period $155,281$163,100$158,174$165,818
Accretion2,5702,7245,1935,521
Collections (4,359)(4,509)(7,755)(9,102)
Foreclosures(1,250)(947)(3,370)(1,869)
Ending balance $152,242$160,368$152,242$160,368
Allowance for loan losses(11,354)(9,446)(11,354)(9,446)
Ending balance, net of allowance for loan losses$140,888$150,922$140,888$150,922
Allowance For Credit Losses On Purchased Credit Impaired Loans Table [Text Block]
Changes in the allowance for loan losses related to PCI loans were as follows:
Quarter Ended Six-Month Period Ended
June 30, 2018June 30, 2017June 30, 2018June 30, 2017
(In thousands)
Balance at beginning of period $11,251$6,857$11,251$6,857
Provision for loan losses1032,5891032,589
Balance at the end of period$11,354$9,446$11,354$9,446