LOANS (Tables)
|
9 Months Ended |
Sep. 30, 2014
|
LOANS |
|
Schedule of loans |
|
|
September 30, 2014 |
|
December 31, 2013 |
|
(In thousands) |
|
Business
Activities Loans |
|
Acquired
Loans |
|
Total |
|
Business
Activities Loans |
|
Acquired
Loans |
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgages: |
|
|
|
|
|
|
|
|
|
|
|
|
|
1-4 family |
|
$ |
1,136,351 |
|
$ |
284,966 |
|
$ |
1,421,317 |
|
$ |
1,027,737 |
|
$ |
333,367 |
|
$ |
1,361,104 |
|
Construction |
|
23,512 |
|
1,032 |
|
24,544 |
|
18,158 |
|
5,012 |
|
23,170 |
|
Total residential mortgages |
|
1,159,863 |
|
285,998 |
|
1,445,861 |
|
1,045,895 |
|
338,379 |
|
1,384,274 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction |
|
152,060 |
|
6,601 |
|
158,661 |
|
125,247 |
|
13,770 |
|
139,017 |
|
Single and multi-family |
|
122,239 |
|
58,143 |
|
180,382 |
|
63,493 |
|
64,827 |
|
128,320 |
|
Other commercial real estate |
|
1,032,612 |
|
223,745 |
|
1,256,357 |
|
871,271 |
|
278,512 |
|
1,149,783 |
|
Total commercial real estate |
|
1,306,911 |
|
288,489 |
|
1,595,400 |
|
1,060,011 |
|
357,109 |
|
1,417,120 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset based lending |
|
341,584 |
|
— |
|
341,584 |
|
294,241 |
|
3,130 |
|
297,371 |
|
Other commercial and industrial loans |
|
338,454 |
|
52,922 |
|
391,376 |
|
323,196 |
|
66,726 |
|
389,922 |
|
Total commercial and industrial loans |
|
680,038 |
|
52,922 |
|
732,960 |
|
617,437 |
|
69,856 |
|
687,293 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total commercial loans |
|
1,986,949 |
|
341,411 |
|
2,328,360 |
|
1,677,448 |
|
426,965 |
|
2,104,413 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Home equity |
|
248,500 |
|
67,593 |
|
316,093 |
|
232,677 |
|
74,154 |
|
306,831 |
|
Auto and other |
|
338,436 |
|
124,032 |
|
462,468 |
|
213,171 |
|
171,834 |
|
385,005 |
|
Total consumer loans |
|
586,936 |
|
191,625 |
|
778,561 |
|
445,848 |
|
245,988 |
|
691,836 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans |
|
$ |
3,733,748 |
|
$ |
819,034 |
|
$ |
4,552,782 |
|
$ |
3,169,191 |
|
$ |
1,011,332 |
|
$ |
4,180,523 |
|
|
Schedule of activity in the accretable yield for the acquired loan portfolio that falls under the purview of ASC 310-30, Accounting for Certain Loans or Debt Securities Acquired in a Transfer |
|
|
Three Months Ended September 30, |
|
(In thousands) |
|
2014 |
|
2013 |
|
Balance at beginning of period |
|
$ |
2,440 |
|
$ |
3,328 |
|
Sales |
|
— |
|
— |
|
Change in accretable difference based on re-estimation of cash flows |
|
1,214 |
|
2,125 |
|
Accretion |
|
(458 |
) |
(1,547 |
) |
Balance at end of period |
|
$ |
3,196 |
|
$ |
3,906 |
|
|
|
Nine months ended September 30, |
|
(In thousands) |
|
2014 |
|
2013 |
|
Balance at beginning of period |
|
$ |
2,559 |
|
$ |
8,247 |
|
Acquisitions |
|
— |
|
— |
|
Sales |
|
— |
|
(301 |
) |
Change in accretable difference based on re-estimation of cash flows |
|
2,644 |
|
2,125 |
|
Accretion |
|
(2,007 |
) |
(6,165 |
) |
Balance at end of period |
|
$ |
3,196 |
|
$ |
3,906 |
|
|
Summary of past due loans |
Business Activities Loans
(in thousands) |
|
30-59 Days
Past Due |
|
60-89 Days
Past Due |
|
Greater
Than 90
Days Past
Due |
|
Total Past
Due |
|
Current |
|
Total Loans |
|
Past Due >
90 days and
Accruing |
|
September 30, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgages: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-4 family |
|
$ |
2,290 |
|
$ |
347 |
|
$ |
4,720 |
|
$ |
7,357 |
|
$ |
1,128,994 |
|
$ |
1,136,351 |
|
$ |
1,524 |
|
Construction |
|
— |
|
— |
|
— |
|
— |
|
23,512 |
|
23,512 |
|
— |
|
Total |
|
2,290 |
|
347 |
|
4,720 |
|
7,357 |
|
1,152,506 |
|
1,159,863 |
|
1,524 |
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction |
|
— |
|
— |
|
621 |
|
621 |
|
151,439 |
|
152,060 |
|
— |
|
Single and multi-family |
|
201 |
|
160 |
|
668 |
|
1,029 |
|
121,210 |
|
122,239 |
|
121 |
|
Other commercial real estate |
|
2,610 |
|
340 |
|
10,084 |
|
13,034 |
|
1,019,578 |
|
1,032,612 |
|
867 |
|
Total |
|
2,811 |
|
500 |
|
11,373 |
|
14,684 |
|
1,292,227 |
|
1,306,911 |
|
988 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset based lending |
|
— |
|
661 |
|
— |
|
661 |
|
340,923 |
|
341,584 |
|
— |
|
Other commercial and industrial loans |
|
390 |
|
180 |
|
1,190 |
|
1,760 |
|
336,694 |
|
338,454 |
|
6 |
|
Total |
|
390 |
|
841 |
|
1,190 |
|
2,421 |
|
677,617 |
|
680,038 |
|
6 |
|
Consumer loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home equity |
|
431 |
|
81 |
|
1,821 |
|
2,333 |
|
246,167 |
|
248,500 |
|
424 |
|
Auto and other |
|
707 |
|
75 |
|
364 |
|
1,146 |
|
337,290 |
|
338,436 |
|
27 |
|
Total |
|
1,138 |
|
156 |
|
2,185 |
|
3,479 |
|
583,457 |
|
586,936 |
|
451 |
|
Total |
|
$ |
6,629 |
|
$ |
1,844 |
|
$ |
19,468 |
|
$ |
27,941 |
|
$ |
3,705,807 |
|
$ |
3,733,748 |
|
$ |
2,969 |
|
Business Activities Loans
(in thousands) |
|
30-59 Days
Past Due |
|
60-89 Days
Past Due |
|
Greater
Than 90
Days Past
Due |
|
Total Past
Due |
|
Current |
|
Total Loans |
|
Past Due >
90 days and
Accruing |
|
December 31, 2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgages: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-4 family |
|
$ |
2,500 |
|
$ |
623 |
|
$ |
7,382 |
|
$ |
10,505 |
|
$ |
1,017,232 |
|
$ |
1,027,737 |
|
$ |
1,451 |
|
Construction |
|
— |
|
— |
|
41 |
|
41 |
|
18,117 |
|
18,158 |
|
— |
|
Total |
|
2,500 |
|
623 |
|
7,423 |
|
10,546 |
|
1,035,349 |
|
1,045,895 |
|
1,451 |
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction |
|
174 |
|
— |
|
3,176 |
|
3,350 |
|
121,897 |
|
125,247 |
|
— |
|
Single and multi-family |
|
139 |
|
654 |
|
679 |
|
1,472 |
|
62,021 |
|
63,493 |
|
168 |
|
Other commercial real estate |
|
622 |
|
4,801 |
|
6,912 |
|
12,335 |
|
858,936 |
|
871,271 |
|
865 |
|
Total |
|
935 |
|
5,455 |
|
10,767 |
|
17,157 |
|
1,042,854 |
|
1,060,011 |
|
1,033 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset based lending |
|
— |
|
— |
|
— |
|
— |
|
294,241 |
|
294,241 |
|
— |
|
Other commercial and industrial loans |
|
1,136 |
|
386 |
|
1,477 |
|
2,999 |
|
320,197 |
|
323,196 |
|
42 |
|
Total |
|
1,136 |
|
386 |
|
1,477 |
|
2,999 |
|
614,438 |
|
617,437 |
|
42 |
|
Consumer loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home equity |
|
732 |
|
54 |
|
1,655 |
|
2,441 |
|
230,236 |
|
232,677 |
|
572 |
|
Auto and other |
|
524 |
|
231 |
|
390 |
|
1,145 |
|
212,026 |
|
213,171 |
|
142 |
|
Total |
|
1,256 |
|
285 |
|
2,045 |
|
3,586 |
|
442,262 |
|
445,848 |
|
714 |
|
Total |
|
$ |
5,827 |
|
$ |
6,749 |
|
$ |
21,712 |
|
$ |
34,288 |
|
$ |
3,134,903 |
|
$ |
3,169,191 |
|
$ |
3,240 |
|
Acquired Loans
(in thousands) |
|
30-59 Days
Past Due |
|
60-89 Days
Past Due |
|
Greater
Than 90
Days Past
Due |
|
Total Past
Due |
|
Current |
|
Total Loans |
|
Past Due >
90 days and
Accruing |
|
September 30, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgages: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-4 family |
|
$ |
1,047 |
|
$ |
301 |
|
$ |
2,576 |
|
$ |
3,924 |
|
$ |
281,042 |
|
$ |
284,966 |
|
$ |
962 |
|
Construction |
|
— |
|
— |
|
— |
|
— |
|
1,032 |
|
1,032 |
|
— |
|
Total |
|
1,047 |
|
301 |
|
2,576 |
|
3,924 |
|
282,074 |
|
285,998 |
|
962 |
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction |
|
686 |
|
— |
|
806 |
|
1,492 |
|
5,109 |
|
6,601 |
|
806 |
|
Single and multi-family |
|
728 |
|
267 |
|
579 |
|
1,574 |
|
56,569 |
|
58,143 |
|
508 |
|
Other commercial real estate |
|
88 |
|
122 |
|
1,736 |
|
1,946 |
|
221,799 |
|
223,745 |
|
— |
|
Total |
|
1,502 |
|
389 |
|
3,121 |
|
5,012 |
|
283,477 |
|
288,489 |
|
1,314 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset based lending |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
Other commercial and industrial loans |
|
142 |
|
97 |
|
1,199 |
|
1,438 |
|
51,484 |
|
52,922 |
|
158 |
|
Total |
|
142 |
|
97 |
|
1,199 |
|
1,438 |
|
51,484 |
|
52,922 |
|
158 |
|
Consumer loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home equity |
|
466 |
|
204 |
|
583 |
|
1,253 |
|
66,340 |
|
67,593 |
|
98 |
|
Auto and other |
|
1,593 |
|
148 |
|
1,507 |
|
3,248 |
|
120,784 |
|
124,032 |
|
66 |
|
Total |
|
2,059 |
|
352 |
|
2,090 |
|
4,501 |
|
187,124 |
|
191,625 |
|
164 |
|
Total |
|
$ |
4,750 |
|
$ |
1,139 |
|
$ |
8,986 |
|
$ |
14,875 |
|
$ |
804,159 |
|
$ |
819,034 |
|
$ |
2,598 |
|
Acquired Loans
(in thousands) |
|
30-59 Days
Past Due |
|
60-89 Days
Past Due |
|
Greater
Than 90
Days Past
Due |
|
Total Past
Due |
|
Current |
|
Total Loans |
|
Past Due >
90 days and
Accruing |
|
December 31, 2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgages: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-4 family |
|
$ |
1,891 |
|
$ |
437 |
|
$ |
2,577 |
|
$ |
4,905 |
|
$ |
328,462 |
|
$ |
333,367 |
|
$ |
805 |
|
Construction |
|
134 |
|
32 |
|
625 |
|
791 |
|
4,221 |
|
5,012 |
|
501 |
|
Total |
|
2,025 |
|
469 |
|
3,202 |
|
5,696 |
|
332,683 |
|
338,379 |
|
1,306 |
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction |
|
— |
|
— |
|
805 |
|
805 |
|
12,965 |
|
13,770 |
|
805 |
|
Single and multi-family |
|
350 |
|
188 |
|
1,335 |
|
1,873 |
|
62,954 |
|
64,827 |
|
512 |
|
Other commercial real estate |
|
537 |
|
518 |
|
6,108 |
|
7,163 |
|
271,349 |
|
278,512 |
|
2,925 |
|
Total |
|
887 |
|
706 |
|
8,248 |
|
9,841 |
|
347,268 |
|
357,109 |
|
4,242 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset based lending |
|
— |
|
— |
|
— |
|
— |
|
3,130 |
|
3,130 |
|
— |
|
Other commercial and industrial loans |
|
440 |
|
135 |
|
1,239 |
|
1,814 |
|
64,912 |
|
66,726 |
|
318 |
|
Total |
|
440 |
|
135 |
|
1,239 |
|
1,814 |
|
68,042 |
|
69,856 |
|
318 |
|
Consumer loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home equity |
|
425 |
|
545 |
|
636 |
|
1,606 |
|
72,548 |
|
74,154 |
|
35 |
|
Auto and other |
|
2,606 |
|
641 |
|
1,641 |
|
4,888 |
|
166,946 |
|
171,834 |
|
82 |
|
Total |
|
3,031 |
|
1,186 |
|
2,277 |
|
6,494 |
|
239,494 |
|
245,988 |
|
117 |
|
Total |
|
$ |
6,383 |
|
$ |
2,496 |
|
$ |
14,966 |
|
$ |
23,845 |
|
$ |
987,487 |
|
$ |
1,011,332 |
|
$ |
5,983 |
|
|
Summary of information pertaining to non-accrual loans |
|
|
September 30, 2014 |
|
December 31, 2013 |
|
(In thousands) |
|
Business
Activities Loans |
|
Acquired
Loans |
|
Total |
|
Business
Activities Loans |
|
Acquired
Loans |
|
Total |
|
Residential mortgages: |
|
|
|
|
|
|
|
|
|
|
|
|
|
1-4 family |
|
$ |
3,196 |
|
$ |
1,614 |
|
$ |
4,810 |
|
$ |
5,931 |
|
$ |
1,772 |
|
$ |
7,703 |
|
Construction |
|
— |
|
— |
|
— |
|
41 |
|
123 |
|
164 |
|
Total |
|
3,196 |
|
1,614 |
|
4,810 |
|
5,972 |
|
1,895 |
|
7,867 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction |
|
621 |
|
— |
|
621 |
|
3,176 |
|
— |
|
3,176 |
|
Single and multi-family |
|
547 |
|
71 |
|
618 |
|
511 |
|
823 |
|
1,334 |
|
Other commercial real estate |
|
9,217 |
|
1,736 |
|
10,953 |
|
6,047 |
|
3,183 |
|
9,230 |
|
Total |
|
10,385 |
|
1,807 |
|
12,192 |
|
9,734 |
|
4,006 |
|
13,740 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other commercial and industrial loans |
|
1,184 |
|
1,041 |
|
2,225 |
|
1,434 |
|
921 |
|
2,355 |
|
Total |
|
1,184 |
|
1,041 |
|
2,225 |
|
1,434 |
|
921 |
|
2,355 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Home equity |
|
1,397 |
|
485 |
|
1,882 |
|
1,083 |
|
602 |
|
1,685 |
|
Auto and other |
|
337 |
|
1,441 |
|
1,778 |
|
249 |
|
1,559 |
|
1,808 |
|
Total |
|
1,734 |
|
1,926 |
|
3,660 |
|
1,332 |
|
2,161 |
|
3,493 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-accrual loans |
|
$ |
16,499 |
|
$ |
6,388 |
|
$ |
22,887 |
|
$ |
18,472 |
|
$ |
8,983 |
|
$ |
27,455 |
|
|
Schedule of loans evaluated for impairment |
Business Activities Loans
(In thousands) |
|
Residential
mortgages |
|
Commercial
real estate |
|
Commercial and
industrial loans |
|
Consumer |
|
Total |
|
September 30, 2014 |
|
|
|
|
|
|
|
|
|
|
|
Loans receivable: |
|
|
|
|
|
|
|
|
|
|
|
Balance at end of period |
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for impairment |
|
$ |
3,808 |
|
$ |
22,018 |
|
$ |
1,113 |
|
$ |
749 |
|
$ |
27,688 |
|
Collectively evaluated |
|
1,156,055 |
|
1,284,893 |
|
678,925 |
|
586,187 |
|
3,706,060 |
|
Total |
|
$ |
1,159,863 |
|
$ |
1,306,911 |
|
$ |
680,038 |
|
$ |
586,936 |
|
$ |
3,733,748 |
|
Business Activities Loans
(In thousands) |
|
Residential
mortgages |
|
Commercial
real estate |
|
Commercial and
industrial loans |
|
Consumer |
|
Total |
|
December 31, 2013 |
|
|
|
|
|
|
|
|
|
|
|
Loans receivable: |
|
|
|
|
|
|
|
|
|
|
|
Balance at end of year |
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for impairment |
|
$ |
6,237 |
|
$ |
22,429 |
|
$ |
1,380 |
|
$ |
515 |
|
$ |
30,561 |
|
Collectively evaluated for impairment |
|
1,039,658 |
|
1,037,582 |
|
616,057 |
|
445,333 |
|
3,138,630 |
|
Total |
|
$ |
1,045,895 |
|
$ |
1,060,011 |
|
$ |
617,437 |
|
$ |
445,848 |
|
$ |
3,169,191 |
|
Acquired Loans
(In thousands) |
|
Residential
mortgages |
|
Commercial
real estate |
|
Commercial and
industrial loans |
|
Consumer |
|
Total |
|
September 30, 2014 |
|
|
|
|
|
|
|
|
|
|
|
Loans receivable: |
|
|
|
|
|
|
|
|
|
|
|
Balance at end of Period |
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for impairment |
|
$ |
934 |
|
$ |
4,625 |
|
$ |
60 |
|
$ |
184 |
|
$ |
5,803 |
|
Collectively evaluated |
|
285,064 |
|
283,864 |
|
52,862 |
|
191,441 |
|
813,231 |
|
Total |
|
$ |
285,998 |
|
$ |
288,489 |
|
$ |
52,922 |
|
$ |
191,625 |
|
$ |
819,034 |
|
Acquired Loans
(In thousands) |
|
Residential
mortgages |
|
Commercial
real estate |
|
Commercial and
industrial loans |
|
Consumer |
|
Total |
|
December 31, 2013 |
|
|
|
|
|
|
|
|
|
|
|
Loans receivable: |
|
|
|
|
|
|
|
|
|
|
|
Balance at end of year |
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for impairment |
|
$ |
1,568 |
|
$ |
6,295 |
|
$ |
367 |
|
$ |
154 |
|
$ |
8,384 |
|
Collectively evaluated for impairment |
|
336,811 |
|
350,814 |
|
69,489 |
|
245,834 |
|
1,002,948 |
|
Total |
|
$ |
338,379 |
|
$ |
357,109 |
|
$ |
69,856 |
|
$ |
245,988 |
|
$ |
1,011,332 |
|
|
Summary of impaired loans |
Business Activities Loans
|
|
At September 30, 2014 |
|
(In thousands) |
|
Recorded Investment |
|
Unpaid Principal
Balance |
|
Related Allowance |
|
With no related allowance: |
|
|
|
|
|
|
|
Residential mortgages - 1-4 family |
|
$ |
3,453 |
|
$ |
3,453 |
|
$ |
— |
|
Other commercial real estate loans |
|
15,047 |
|
15,047 |
|
— |
|
Commercial real esate - construction |
|
621 |
|
621 |
|
— |
|
Other commercial and industrial loans |
|
552 |
|
552 |
|
— |
|
Consumer - home equity |
|
630 |
|
630 |
|
— |
|
Consumer - other |
|
119 |
|
119 |
|
— |
|
|
|
|
|
|
|
|
|
With an allowance recorded: |
|
|
|
|
|
|
|
Residential mortgages - 1-4 family |
|
$ |
325 |
|
$ |
355 |
|
$ |
30 |
|
Other commercial real estate loans |
|
3,941 |
|
6,350 |
|
2,409 |
|
Other commercial and industrial loans |
|
249 |
|
561 |
|
312 |
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
Residential mortgages |
|
$ |
3,778 |
|
$ |
3,808 |
|
$ |
30 |
|
Commercial real estate |
|
19,609 |
|
22,018 |
|
2,409 |
|
Commercial and industrial loans |
|
801 |
|
1,113 |
|
312 |
|
Consumer |
|
749 |
|
749 |
|
— |
|
Total impaired loans |
|
$ |
24,937 |
|
$ |
27,688 |
|
$ |
2,751 |
|
Acquired Loans
|
|
At September 30, 2014 |
|
(In thousands) |
|
Recorded Investment |
|
Unpaid Principal
Balance |
|
Related Allowance |
|
With no related allowance: |
|
|
|
|
|
|
|
Residential mortgages - 1-4 family |
|
$ |
934 |
|
$ |
934 |
|
$ |
— |
|
Other commercial real estate loans |
|
4,625 |
|
4,625 |
|
— |
|
Other commercial and industrial loans |
|
60 |
|
60 |
|
— |
|
Consumer - home equity |
|
184 |
|
184 |
|
— |
|
|
|
|
|
|
|
|
|
With an allowance recorded: |
|
|
|
|
|
|
|
Residential mortgages - 1-4 family |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
Other commercial real estate loans |
|
— |
|
— |
|
— |
|
Other commercial and industrial loans |
|
— |
|
— |
|
— |
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
Residential mortgages |
|
$ |
934 |
|
$ |
934 |
|
$ |
— |
|
Commercial real estate |
|
4,625 |
|
4,625 |
|
— |
|
Commercial and industrial loans |
|
60 |
|
60 |
|
— |
|
Consumer |
|
184 |
|
184 |
|
— |
|
Total impaired loans |
|
$ |
5,803 |
|
$ |
5,803 |
|
$ |
— |
|
Business Activities Loans
|
|
At December 31, 2013 |
|
(In thousands) |
|
Recorded Investment |
|
Unpaid Principal
Balance |
|
Related Allowance |
|
With no related allowance: |
|
|
|
|
|
|
|
Residential mortgages - 1-4 family |
|
$ |
3,406 |
|
$ |
3,406 |
|
$ |
— |
|
Commercial real estate - construction |
|
3,176 |
|
3,176 |
|
— |
|
Commercial real estate - single and multifamily |
|
— |
|
— |
|
— |
|
Other commercial real estate loans |
|
18,909 |
|
18,909 |
|
— |
|
Other commercial and industrial loans |
|
811 |
|
811 |
|
— |
|
Consumer - home equity |
|
270 |
|
270 |
|
— |
|
|
|
|
|
|
|
|
|
With an allowance recorded: |
|
|
|
|
|
|
|
Residential mortgages - 1-4 family |
|
$ |
1,926 |
|
$ |
2,831 |
|
$ |
905 |
|
Commercial real estate - construction |
|
— |
|
— |
|
— |
|
Commercial real estate - single and multifamily |
|
— |
|
— |
|
— |
|
Other commercial real estate loans |
|
125 |
|
344 |
|
219 |
|
Other commercial and industrial loans |
|
514 |
|
569 |
|
55 |
|
Consumer - home equity |
|
142 |
|
245 |
|
103 |
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
Residential mortgages |
|
$ |
5,332 |
|
$ |
6,237 |
|
$ |
905 |
|
Commercial real estate |
|
22,210 |
|
22,429 |
|
219 |
|
Commercial and industrial loans |
|
1,325 |
|
1,380 |
|
55 |
|
Consumer |
|
412 |
|
515 |
|
103 |
|
Total impaired loans |
|
$ |
29,279 |
|
$ |
30,561 |
|
$ |
1,282 |
|
Acquired Loans
|
|
At December 31, 2013 |
|
(In thousands) |
|
Recorded Investment |
|
Unpaid Principal
Balance |
|
Related Allowance |
|
With no related allowance: |
|
|
|
|
|
|
|
Residential mortgages - 1-4 family |
|
$ |
381 |
|
$ |
381 |
|
$ |
— |
|
Other commercial real estate loans |
|
3,853 |
|
3,853 |
|
— |
|
Other commercial and industrial loans |
|
367 |
|
367 |
|
— |
|
|
|
|
|
|
|
|
|
With an allowance recorded: |
|
|
|
|
|
|
|
Residential mortgages - 1-4 family |
|
$ |
957 |
|
$ |
1,187 |
|
$ |
230 |
|
Other commercial real estate loans |
|
1,954 |
|
2,442 |
|
488 |
|
Consumer - home equity |
|
115 |
|
154 |
|
39 |
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
Residential mortgages |
|
$ |
1,338 |
|
$ |
1,568 |
|
$ |
230 |
|
Other commercial real estate loans |
|
5,807 |
|
6,295 |
|
488 |
|
Other commercial and industrial loans |
|
367 |
|
367 |
|
— |
|
Consumer - home equity |
|
115 |
|
154 |
|
39 |
|
Total impaired loans |
|
$ |
7,627 |
|
$ |
8,384 |
|
$ |
757 |
| |
Summary of the average recorded investment and interest income recognized on impaired loans |
Business Activities Loans
|
|
Nine Months Ended September 30, 2014 |
|
Nine Months Ended September 30, 2013 |
|
(in thousands) |
|
Average Recorded
Investment |
|
Cash Basis Interest
Income Recognized |
|
Average Recorded
Investment |
|
Cash Basis Interest
Income Recognized |
|
With no related allowance: |
|
|
|
|
|
|
|
|
|
Residential mortgages - 1-4 family |
|
$ |
4,342 |
|
$ |
140 |
|
$ |
4,873 |
|
$ |
64 |
|
Commercial real estate - construction |
|
16,765 |
|
470 |
|
2,332 |
|
25 |
|
Other commercial real estate loans |
|
2,117 |
|
— |
|
23,538 |
|
547 |
|
Commercial and industrial loans |
|
1,582 |
|
60 |
|
1,182 |
|
34 |
|
Consumer - home equity |
|
411 |
|
9 |
|
1,145 |
|
8 |
|
Consumer - other |
|
122 |
|
3 |
|
130 |
|
2 |
|
|
|
|
|
|
|
|
|
|
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
Residential mortgages - 1-4 family |
|
$ |
396 |
|
$ |
3 |
|
$ |
1,569 |
|
$ |
9 |
|
Commercial real estate - construction |
|
3,776 |
|
30 |
|
1,938 |
|
— |
|
Other commercial real estate loans |
|
593 |
|
4 |
|
86 |
|
— |
|
Commercial and industrial loans |
|
— |
|
— |
|
759 |
|
— |
|
Consumer - home equity |
|
— |
|
— |
|
55 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
Residential mortgages |
|
$ |
4,738 |
|
$ |
143 |
|
$ |
6,442 |
|
$ |
73 |
|
Commercial real estate |
|
23,251 |
|
504 |
|
27,894 |
|
572 |
|
Commercial and industrial loans |
|
1,582 |
|
60 |
|
1,941 |
|
34 |
|
Consumer loans |
|
533 |
|
12 |
|
1,330 |
|
10 |
|
Total impaired loans |
|
$ |
30,104 |
|
$ |
719 |
|
$ |
37,607 |
|
$ |
689 |
|
Acquired Loans
|
|
Nine Months Ended September 30, 2014 |
|
Nine Months Ended September 30, 2013 |
|
(in thousands) |
|
Average Recorded
Investment |
|
Cash Basis Interest
Income Recognized |
|
Average Recorded
Investment |
|
Cash Basis Interest
Income Recognized |
|
With no related allowance: |
|
|
|
|
|
|
|
|
|
Residential mortgages - 1-4 family |
|
$ |
1,046 |
|
$ |
8 |
|
$ |
410 |
|
$ |
3 |
|
Other commercial real estate loans |
|
5,575 |
|
146 |
|
3,035 |
|
53 |
|
Commercial and industrial loans |
|
457 |
|
13 |
|
182 |
|
— |
|
Consumer - home equity |
|
55 |
|
— |
|
— |
|
— |
|
|
|
|
|
|
|
|
|
|
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
Residential mortgages - 1-4 family |
|
$ |
164 |
|
$ |
4 |
|
$ |
566 |
|
$ |
3 |
|
Other commercial real estate loans |
|
— |
|
— |
|
1,163 |
|
6 |
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
Residential mortgages |
|
$ |
1,210 |
|
$ |
12 |
|
$ |
976 |
|
$ |
6 |
|
Other commercial real estate loans |
|
5,575 |
|
146 |
|
4,198 |
|
59 |
|
Commercial and industrial loans |
|
457 |
|
13 |
|
182 |
|
— |
|
Consumer loans |
|
55 |
|
— |
|
— |
|
— |
|
Total impaired loans |
|
$ |
7,297 |
|
$ |
171 |
|
$ |
5,356 |
|
$ |
65 |
|
|
Schedule of recorded investment and number of modifications for TDRs identified during the period |
|
|
Modifications by Class |
|
|
|
Three months ending September 30, 2014 |
|
(Dollars in thousands) |
|
Number of
Modifications |
|
Pre-Modification
Outstanding Recorded
Investment |
|
Post-Modification
Outstanding Recorded
Investment |
|
Troubled Debt Restructurings |
|
|
|
|
|
|
|
Residential - 1-4 Family |
|
2 |
|
$ |
231 |
|
$ |
232 |
|
Commercial - Single and multifamily |
|
— |
|
— |
|
— |
|
Commercial - Other |
|
1 |
|
1,596 |
|
1,596 |
|
|
|
3 |
|
$ |
1,827 |
|
$ |
1,828 |
|
|
|
|
|
|
|
|
|
|
|
Modifications by Class |
|
|
|
Nine months ending September 30, 2014 |
|
(Dollars in thousands) |
|
Number of
Modifications |
|
Pre-Modification
Outstanding Recorded
Investment |
|
Post-Modification
Outstanding Recorded
Investment |
|
Troubled Debt Restructurings |
|
|
|
|
|
|
|
Residential - 1-4 Family |
|
5 |
|
$ |
600 |
|
$ |
598 |
|
Commercial - Single and multifamily |
|
1 |
|
623 |
|
623 |
|
Commercial - Other |
|
7 |
|
6,400 |
|
6,400 |
|
|
|
13 |
|
$ |
7,623 |
|
$ |
7,621 |
|
|
|
|
|
|
|
|
|
|
|
Modifications by Class |
|
|
|
Nine months ending September 30, 2013 |
|
(Dollars in thousands) |
|
Number of
Modifications |
|
Pre-Modification
Outstanding Recorded
Investment |
|
Post-Modification
Outstanding Recorded
Investment |
|
Troubled Debt Restructurings |
|
|
|
|
|
|
|
Residential - 1-4 Family |
|
5 |
|
$ |
941 |
|
$ |
941 |
|
Residential - Construction |
|
1 |
|
320 |
|
320 |
|
Commercial - Single and multifamily |
|
2 |
|
2,366 |
|
2,406 |
|
Commercial - Other |
|
10 |
|
3,882 |
|
3,450 |
|
Commercial business - Other |
|
4 |
|
100 |
|
100 |
|
|
|
22 |
|
$ |
7,609 |
|
$ |
7,217 |
|
|
|
Modifications that Subsequently Defaulted |
|
|
|
Three months ending September 30, 2014 |
|
|
|
Number of Contracts |
|
Recorded Investment |
|
Troubled Debt Restructurings |
|
|
|
|
|
Commercial and industrial - Other |
|
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
Modifications that Subsequently Defaulted |
|
|
|
Nine months ending September 30, 2014 |
|
|
|
Number of Contracts |
|
Recorded Investment |
|
Troubled Debt Restructurings |
|
|
|
|
|
Commercial and industrial - Other |
|
2 |
|
$ |
158 |
|
|
|
|
|
|
|
|
|
Modifications that Subsequently Defaulted |
|
|
|
Three months ending September 30, 2013 |
|
|
|
Number of Contracts |
|
Recorded Investment |
|
Troubled Debt Restructurings |
|
|
|
|
|
Commercial - Single and multifamily |
|
1 |
|
$ |
37 |
|
Commercial - Other |
|
5 |
|
929 |
|
Commercial and industrial - Other |
|
1 |
|
— |
|
|
|
7 |
|
$ |
966 |
|
|
|
|
|
|
|
|
|
Modifications that Subsequently Defaulted |
|
|
|
Nine months ending September 30, 2013 |
|
|
|
Number of Contracts |
|
Recorded Investment |
|
Troubled Debt Restructurings |
|
|
|
|
|
Commercial - Single and multifamily |
|
5 |
|
$ |
261 |
|
Commercial - Other |
|
5 |
|
929 |
|
Commercial and industrial - Other |
|
1 |
|
— |
|
|
|
11 |
|
$ |
1,190 |
| |
Schedule of TDR activity |
|
|
Three months ending |
|
|
|
September 30, |
|
(In thousands) |
|
2014 |
|
2013 |
|
Balance at beginning of the period |
|
$ |
15,113 |
|
$ |
10,160 |
|
Principal Payments |
|
(339 |
) |
(55 |
) |
TDR Status Change (1) |
|
(245 |
) |
— |
|
Other Reductions (2) |
|
— |
|
156 |
|
Newly Identified TDRs |
|
1,828 |
|
— |
|
Balance at end of the period |
|
$ |
16,357 |
|
$ |
10,261 |
|
|
|
|
|
|
|
|
|
Nine months ending |
|
|
|
September 30, |
|
(In thousands) |
|
2014 |
|
2013 |
|
Balance at beginning of the period |
|
$ |
10,822 |
|
$ |
4,626 |
|
Principal Payments |
|
(1,299 |
) |
(92 |
) |
TDR Status Change (1) |
|
(886 |
) |
(1,164 |
) |
Other Reductions (2) |
|
99 |
|
(326 |
) |
Newly Identified TDRs |
|
7,621 |
|
7,217 |
|
Balance at end of the period |
|
$ |
16,357 |
|
$ |
10,261 |
|
(1) TDR Status change classification represents TDR loans with a specified interest rate equal to or greater than the rate that the Company was willing to accept at the time of the restructuring for a new loan with comparable risk and the loan was on current payment status and not impaired based on the terms specified by the restructuring agreement.
(2) Other Reductions classification consists of transfer to other real estate owned and charge-offs and advances to loans.
|