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Loans and Allowance for Loan Losses (Tables)
9 Months Ended
Sep. 30, 2015
Loans and Leases Receivable, Allowance [Abstract]  
Schedule of Current, Accruing Past Due, and Nonaccrual Loans
The following is a summary of current, accruing past due, and non-accrual loans by portfolio class as of September 30, 2015 and December 31, 2014.
Current, Accruing Past Due, and Non-accrual Loans
 
 
September 30, 2015
 
(in thousands)
Current
 
Accruing 30-89 Days Past Due
 
Accruing 90 Days or Greater Past Due
 
Total Accruing Past Due
 
Non-accrual
 
 Total
 
Investment properties
$
5,544,594

 
2,400

 

 
2,400

 
10,582

 
5,557,576

 
1-4 family properties
1,073,356

 
4,122

 
81

 
4,203

 
16,994

 
1,094,553

 
Land acquisition
517,728

 
1,322

 
67

 
1,389

 
19,010

 
538,127

 
Total commercial real estate
7,135,678

 
7,844

 
148

 
7,992

 
46,586

 
7,190,256

 
Commercial, financial and agricultural
6,219,484

 
7,095

 
533

 
7,628

 
50,656

 
6,277,768

 
Owner-occupied
4,241,159

 
5,969

 
132

 
6,101

 
18,148

 
4,265,408

 
Total commercial and industrial
10,460,643

 
13,064

 
665

 
13,729

 
68,804

 
10,543,176

 
Home equity lines
1,662,930

 
4,557

 
297

 
4,854

 
16,263

 
1,684,047

 
Consumer mortgages
1,857,640

 
6,284

 
378

 
6,662

 
24,154

 
1,888,456

 
Credit cards
238,519

 
1,473

 
1,323

 
2,796

 

 
241,315

 
Other retail loans
340,277

 
3,128

 
187

 
3,315

 
1,833

 
345,425

 
Total retail
4,099,366

 
15,442

 
2,185

 
17,627

 
42,250

 
4,159,243

 
Total loans
$
21,695,687

 
36,350

 
2,998

 
39,348

 
157,640

 
21,892,675

(1 
) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
(in thousands)
Current
 
Accruing 30-89 Days Past Due
 
Accruing 90 Days or Greater Past Due
 
Total Accruing Past Due
 
Non-accrual
 
 Total
 
Investment properties
$
5,184,103

 
1,851

 

 
1,851

 
20,720

 
5,206,674

 
1-4 family properties
1,105,186

 
4,067

 
432

 
4,499

 
24,197

 
1,133,882

 
Land acquisition
551,308

 
363

 

 
363

 
34,375

 
586,046

 
Total commercial real estate
6,840,597

 
6,281

 
432

 
6,713

 
79,292

 
6,926,602

 
Commercial, financial and agricultural
6,130,184

 
9,979

 
1,790

 
11,769

 
40,359

 
6,182,312

 
Owner-occupied
4,052,679

 
6,404

 
225

 
6,629

 
26,099

 
4,085,407

 
Total commercial and industrial
10,182,863

 
16,383

 
2,015

 
18,398

 
66,458

 
10,267,719

 
Home equity lines
1,659,869

 
6,992

 
703

 
7,695

 
16,434

 
1,683,998

 
Consumer mortgages
1,648,145

 
12,626

 
12

 
12,638

 
33,278

 
1,694,061

 
Credit cards
250,304

 
1,971

 
1,374

 
3,345

 

 
253,649

 
Other retail loans
297,703

 
2,361

 
101

 
2,462

 
2,295

 
302,460

 
Total retail
3,856,021

 
23,950

 
2,190

 
26,140

 
52,007

 
3,934,168

 
Total loans
$
20,879,481

 
46,614

 
4,637

 
51,251

 
197,757

 
21,128,489

(2 
) 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Total before net deferred fees and costs of $28.4 million.
(2) Total before net deferred fees and costs of $30.8 million.
Loan Portfolio Credit Exposure
In the following tables, retail loans are generally assigned a risk grade similar to the classifications described above; however, upon reaching 90 days and 120 days past due, they are generally downgraded to Substandard and Loss, respectively, in accordance with the FFIEC Uniform Retail Credit Classification and Account Management Policy. Additionally, in accordance with the Interagency Supervisory Guidance on Allowance for Loan and Lease Losses Estimation Practices for Loans and Lines of Credit Secured by Junior Liens on 1-4 Family Residential Properties, the risk grade classifications of retail loans (home equity lines and consumer mortgages) secured by junior liens on 1-4 family residential properties also consider available information on the payment status of the associated senior lien with other financial institutions.
Loan Portfolio Credit Exposure by Risk Grade
 
 
September 30, 2015
 
(in thousands)
Pass
 
Special
Mention
 
Substandard(1)
 
Doubtful(2)
 
Loss
 
Total
 
Investment properties
$
5,357,016

 
125,646

 
74,914

 

 

 
5,557,576

 
1-4 family properties
953,403

 
58,314

 
75,586

 
7,250

 

 
1,094,553

 
Land acquisition
451,438

 
52,157

 
34,084

 
448

 

 
538,127

 
Total commercial real estate
6,761,857

 
236,117

 
184,584

 
7,698

 

 
7,190,256

 
Commercial, financial and agricultural
6,001,990

 
141,305

 
117,256

 
15,789

 
1,428

(3) 
6,277,768

 
Owner-occupied
4,059,211

 
77,470

 
128,091

 
177

 
459

(3) 
4,265,408

 
Total commercial and industrial
10,061,201

 
218,775

 
245,347

 
15,966

 
1,887

 
10,543,176

 
Home equity lines
1,659,346

 

 
21,758

 
1,448

 
1,495

(3) 
1,684,047

 
Consumer mortgages
1,858,377

 

 
28,460

 
1,494

 
125

(3) 
1,888,456

 
Credit cards
239,992

 

 
497

 

 
826

(4) 
241,315

 
Other retail loans
341,584

 

 
3,761

 

 
80

(3) 
345,425

 
Total retail
4,099,299

 

 
54,476

 
2,942

 
2,526

 
4,159,243

 
Total loans
$
20,922,357

 
454,892

 
484,407

 
26,606

 
4,413

 
21,892,675

(5 
) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
(in thousands)
Pass
 
Special
Mention
 
Substandard(1)
 
Doubtful(2)
 
Loss
 
Total
 
Investment properties
$
4,936,319

 
167,490

 
102,865

 

 

 
5,206,674

 
1-4 family properties
943,721

 
86,072

 
96,392

 
7,697

 

 
1,133,882

 
Land acquisition
462,313

 
60,902

 
62,101

 
730

 

 
586,046

 
Total commercial real estate
6,342,353

 
314,464

 
261,358

 
8,427

 


6,926,602

 
Commercial, financial and agricultural
5,905,589

 
143,879

 
123,225

 
9,539

 
80

(3) 
6,182,312

 
Owner-occupied
3,827,943

 
95,647

 
161,045

 
327

 
445

(3) 
4,085,407

 
Total commercial and industrial
9,733,532

 
239,526

 
284,270

 
9,866

 
525


10,267,719

 
Home equity lines
1,659,794

 

 
20,043

 
2,009

 
2,152

(3) 
1,683,998

 
Consumer mortgages
1,653,491

 

 
37,656

 
2,654

 
260

(3) 
1,694,061

 
Credit cards
252,275

 

 
495

 

 
879

(4) 
253,649

 
Other retail loans
298,991

 

 
3,339

 
32

 
98

(3) 
302,460

 
Total retail
3,864,551

 

 
61,533

 
4,695

 
3,389

 
3,934,168

 
Total loans
$
19,940,436

 
553,990

 
607,161

 
22,988

 
3,914

 
21,128,489

(6 
) 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Includes $126.6 million and $170.9 million of non-accrual Substandard loans at September 30, 2015 and December 31, 2014, respectively.
(2) The loans within this risk grade are on non-accrual status. Commercial loans generally have an allowance for loan losses in accordance with ASC 310, and retail loans generally have an allowance for loan losses equal to 50% of the loan amount.
(3) The loans within this risk grade are on non-accrual status and have an allowance for loan losses equal to the full loan amount.
(4) Represent amounts that were 120 days past due. These credits are downgraded to the Loss category with an allowance for loan losses equal to the full loan amount and are generally charged off upon reaching 181 days past due in accordance with the FFIEC Uniform Retail Credit Classification and Account Management Policy.
(5) Total before net deferred fees and costs of $28.4 million.
(6) Total before net deferred fees and costs of $30.8 million.
Schedule of Allowances for Loan Losses and Recorded Investment in Loans
The following table details the changes in the allowance for loan losses by loan segment for the nine months ended September 30, 2015 and 2014.
Allowance for Loan Losses and Recorded Investment in Loans

 
As Of and For The Nine Months Ended September 30, 2015
(in thousands)
Commercial Real Estate
 
Commercial & Industrial
 
Retail
 
Unallocated
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
Beginning balance
$
101,471

 
118,110

 
41,736

 

 
261,317

Charge-offs
(12,120
)
 
(17,417
)
 
(16,535
)
 

 
(46,072
)
Recoveries
10,500

 
5,774

 
5,391

 

 
21,665

Provision for loan losses
(10,845
)
 
15,954

 
8,881

 

 
13,990

Ending balance
$
89,006

 
122,421

 
$
39,473

 
$

 
$
250,900

Ending balance: individually evaluated for impairment
18,091

 
12,568

 
783

 

 
31,441

Ending balance: collectively evaluated for impairment
$
70,915

 
109,853

 
38,690

 

 
219,459

Loans:
 
 
 
 
 
 
 
 
 
Ending balance: total loans(1)
$
7,190,257

 
10,543,176

 
4,159,243

 

 
21,892,675

Ending balance: individually evaluated for impairment    
159,582

 
109,904

 
39,858

 

 
309,344

Ending balance: collectively evaluated for impairment
$
7,030,675

 
10,433,272

 
4,119,385

 

 
21,583,331

 
 
 
 
 
 
 
 
 
 
 
As Of and For The Nine Months Ended September 30, 2014
(in thousands)
Commercial Real Estate
 
Commercial & Industrial
 
Retail
 
Unallocated
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
Beginning balance
$
127,646

 
115,435

 
41,479

 
23,000

 
307,560

Allowance for loan losses of sold loans
(281
)
 
(398
)
 
(340
)
 
 
 
(1,019
)
Charge-offs
(41,139
)
 
(26,896
)
 
(19,082
)
 

 
(87,117
)
Recoveries
8,318

 
9,562

 
6,434

 

 
24,314

Provision for loan losses
7,445

 
27,140

 
14,053

 
(23,000
)
 
25,638

Ending balance
$
101,989

 
124,843

 
42,544

 

 
269,376

Ending balance: individually evaluated for impairment
22,107

 
15,863

 
1,195

 

 
39,165

Ending balance: collectively evaluated for impairment
$
79,882

 
108,980

 
41,349

 

 
230,211

Loans:
 
 
 
 
 
 
 
 
 
Ending balance: total loans(2)
$
6,774,794

 
9,987,660

 
3,854,961

 

 
20,617,415

Ending balance: individually evaluated for impairment
317,011

 
172,860

 
47,669

 

 
537,540

Ending balance: collectively evaluated for impairment
$
6,457,783

 
9,814,800

 
3,807,292

 

 
20,079,875

 
 
 
 
 
 
 
 
 
 
(1)Total before net deferred fees and costs of $28.4 million.
(2)Total before net deferred fees and costs of $28.8 million.

The following table details the changes in the allowance for loan losses by loan segment for the three months ended September 30, 2015 and 2014.
Allowance for Loan Losses and Recorded Investment in Loans

 
As Of and For The Three Months Ended September 30, 2015
(in thousands)
Commercial Real Estate
 
Commercial & Industrial
 
Retail
 
Unallocated
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
Beginning balance
$
90,691

 
123,050

 
40,961

 

 
254,702

Charge-offs
(1,722
)
 
(8,342
)
 
(4,779
)
 

 
(14,843
)
Recoveries
4,019

 
2,203

 
1,863

 

 
8,085

Provision for loan losses
(3,982
)
 
5,510

 
1,428

 

 
2,956

Ending balance
$
89,006

 
122,421

 
39,473

 

 
250,900

Ending balance: individually evaluated for impairment
18,091

 
12,568

 
783

 

 
31,441

Ending balance: collectively evaluated for impairment
$
70,915

 
109,853

 
38,690

 

 
219,459

Loans:
 
 
 
 
 
 
 
 
 
Ending balance: total loans(1)
$
7,190,257

 
10,543,176

 
4,159,243

 

 
21,892,675

Ending balance: individually evaluated for impairment    
159,582

 
109,904

 
39,858

 

 
309,344

Ending balance: collectively evaluated for impairment
$
7,030,675

 
10,433,272

 
4,119,385

 

 
21,583,331

 
 
 
 
 
 
 
 
 
 
 
As Of and For The Three Months Ended September 30, 2014
(in thousands)
Commercial Real Estate
 
Commercial & Industrial
 
Retail
 
Unallocated
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
Beginning balance
$
104,394

 
130,814

 
42,575

 

 
277,783

Charge-offs
(5,233
)
 
(11,306
)
 
(6,222
)
 

 
(22,761
)
Recoveries
3,099

 
5,257

 
2,155

 

 
10,511

Provision for loan losses
(271
)
 
78

 
4,036

 

 
3,843

Ending balance
$
101,989

 
$
124,843

 
$
42,544

 
$

 
$
269,376

Ending balance: individually evaluated for impairment
22,107

 
15,863

 
1,195

 

 
39,165

Ending balance: collectively evaluated for impairment
$
79,882

 
108,980

 
41,349

 

 
230,211

Loans:
 
 
 
 
 
 
 
 
 
Ending balance: total loans(2)
$
6,774,794

 
9,987,660

 
3,854,961

 

 
20,617,415

Ending balance: individually evaluated for impairment
317,011

 
172,860

 
47,669

 

 
537,540

Ending balance: collectively evaluated for impairment
$
6,457,783

 
9,814,800

 
3,807,292

 

 
20,079,875

 
 
 
 
 
 
 
 
 
 
(1) Total before net deferred fees and costs of $28.4 million.
(2) Total before net deferred fees and costs of $28.8 million.
Schedule of Impaired Loans
The tables below summarize impaired loans (including accruing TDRs) as of September 30, 2015 and December 31, 2014.
Impaired Loans (including accruing TDRs)
 
 
 
 
 
 
 
 
 
 
 
September 30, 2015
 
Nine Months Ended September 30, 2015
 
Three Months Ended September 30, 2015
(in thousands)
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average Recorded Investment
 
Interest Income Recognized
 
Average Recorded Investment
 
Interest Income Recognized
With no related allowance recorded
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment properties
$
8,087

 
10,715

 

 
12,301

 

 
8,343

 

1-4 family properties
2,327

 
6,378

 

 
2,544

 

 
2,262

 

Land acquisition
10,238

 
40,401

 

 
16,034

 

 
11,001

 

Total commercial real estate
20,652

 
57,494

 

 
30,879

 

 
21,606

 

Commercial, financial and agricultural
6,326

 
9,656

 

 
5,976

 

 
7,242

 

Owner-occupied
6,941

 
8,949

 

 
16,983

 

 
15,087

 

Total commercial and industrial
13,267

 
18,605

 

 
22,959

 

 
22,329

 

Home equity lines
1,030

 
1,030

 

 
421

 

 
1,145

 

Consumer mortgages
837

 
2,065

 

 
1,053

 

 
1,030

 

Credit cards

 

 

 

 

 

 

Other retail loans

 

 

 

 

 

 

Total retail
1,867

 
3,095

 

 
1,474

 

 
2,175

 

Total impaired loans with no
related allowance recorded
$
35,786

 
79,194

 

 
55,312

 

 
46,110

 

With allowance recorded
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment properties
56,882

 
56,882

 
9,893

 
77,466

 
1,722

 
66,726

 
475

1-4 family properties
56,191

 
56,978

 
5,622

 
63,889

 
1,230

 
57,956

 
423

Land acquisition
25,857

 
26,588

 
2,576

 
37,502

 
746

 
27,338

 
198

Total commercial real estate
138,930

 
140,448

 
18,091

 
178,857

 
3,698

 
152,020

 
1,096

Commercial, financial and agricultural
45,172

 
46,678

 
10,437

 
43,821

 
828

 
36,225

 
191

Owner-occupied
51,465

 
51,595

 
2,131

 
57,079

 
1,378

 
50,487

 
426

Total commercial and industrial
96,637

 
98,273

 
12,568

 
100,900

 
2,206

 
86,712

 
617

Home equity lines
9,809

 
9,809

 
155

 
7,880

 
226

 
9,573

 
104

Consumer mortgages
23,270

 
23,270

 
555

 
27,309

 
955

 
24,007

 
295

Credit cards

 

 

 

 

 

 

Other retail loans
4,912

 
4,912

 
72

 
5,213

 
248

 
5,064

 
81

Total retail
37,991

 
37,991

 
782

 
40,402

 
1,429

 
38,644

 
480

Total impaired loans with
allowance recorded
$
273,558

 
276,712

 
31,441

 
320,159

 
7,333

 
277,376

 
2,193

Total impaired loans
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment properties
$
64,969

 
67,597

 
9,893

 
89,767

 
1,722

 
75,069

 
475

1-4 family properties
58,518

 
63,356

 
5,622

 
66,433

 
1,230

 
60,218

 
423

Land acquisition
36,095

 
66,989

 
2,576

 
53,536

 
746

 
38,339

 
198

Total commercial real estate
159,582

 
197,942

 
18,091

 
209,736

 
3,698

 
173,626

 
1,096

Commercial, financial and agricultural
51,498

 
56,334

 
10,437

 
49,797

 
828

 
43,467

 
191

Owner-occupied
58,406

 
60,544

 
2,131

 
74,062

 
1,378

 
65,574

 
426

Total commercial and industrial
109,904

 
116,878

 
12,568

 
123,859

 
2,206

 
109,041

 
617

Home equity lines
10,839

 
10,839

 
155

 
8,301

 
226

 
10,718

 
104

Consumer mortgages
24,107

 
25,335

 
555

 
28,362

 
955

 
25,037

 
295

Credit cards

 

 

 

 

 

 

Other retail loans
4,912

 
4,912

 
72

 
5,213

 
248

 
5,064

 
81

Total retail
39,858

 
41,086

 
782

 
41,876

 
1,429

 
40,819

 
480

Total impaired loans
$
309,344

 
355,906

 
31,441

 
375,471

 
7,333

 
323,486

 
2,193

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired Loans (including accruing TDRs)
 
December 31, 2014
 
Year Ended December 31, 2014
(in thousands)
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average Recorded Investment
 
Interest Income Recognized
With no related allowance recorded
 
 
 
 
 
 
 
 
 
Investment properties
$
15,368

 
20,237

 

 
25,311

 

1-4 family properties
2,981

 
10,520

 

 
5,441

 

Land acquisition
21,504

 
61,843

 

 
29,954

 

Total commercial real estate
39,853

 
92,600

 

 
60,706

 

Commercial, financial and agricultural
7,391

 
11,193

 

 
8,984

 

Owner-occupied
17,017

 
19,612

 

 
19,548

 

Total commercial and industrial
24,408

 
30,805

 

 
28,532

 

Home equity lines

 

 

 

 

Consumer mortgages
995

 
2,065

 

 
1,352

 

Credit cards

 

 

 

 

Other retail loans

 

 

 

 

Total retail
995

 
2,065

 

 
1,352

 

Total impaired loans with no
related allowance recorded
$
65,256

 
125,470

 

 
90,590

 

With allowance recorded
 
 
 
 
 
 
 
 
 
Investment properties
$
81,758

 
83,963

 
5,413

 
129,289

 
3,690

1-4 family properties
80,625

 
81,357

 
11,442

 
94,773

 
2,645

Land acquisition
49,300

 
49,483

 
4,900

 
89,195

 
1,689

Total commercial real estate
211,683

 
214,803

 
21,755

 
313,257

 
8,024

Commercial, financial and agricultural
59,035

 
59,041

 
7,597

 
91,221

 
2,392

Owner-occupied
62,583

 
62,601

 
2,854

 
78,950

 
2,610

Total commercial and industrial
121,618

 
121,642

 
10,451

 
170,171

 
5,002

Home equity lines
4,848

 
4,848

 
129

 
3,604

 
1,405

Consumer mortgages
33,450

 
33,450

 
1,040

 
39,427

 
115

Credit cards

 

 

 

 

Other retail loans
5,293

 
5,293

 
101

 
4,997

 
315

Total retail
43,591

 
43,591

 
1,270

 
48,028

 
1,835

Total impaired loans with
allowance recorded
$
376,892

 
380,036

 
33,476

 
531,456

 
14,861

Total impaired loans
 
 
 
 
 
 
 
 
 
Investment properties
$
97,126

 
104,200

 
5,413

 
154,600

 
3,690

1-4 family properties
83,606

 
91,877

 
11,442

 
100,214

 
2,645

Land acquisition
70,804

 
111,326

 
4,900

 
119,149

 
1,689

Total commercial real estate
251,536

 
307,403

 
21,755

 
373,963

 
8,024

Commercial, financial and agricultural
66,426

 
70,234

 
7,597

 
100,205

 
2,392

Owner-occupied
79,600

 
82,213

 
2,854

 
98,498

 
2,610

Total commercial and industrial
146,026

 
152,447

 
10,451

 
198,703

 
5,002

Home equity lines
4,848

 
4,848

 
129

 
3,604

 
1,405

Consumer mortgages
34,445

 
35,515

 
1,040

 
40,779

 
115

Credit cards

 

 

 

 

Other retail loans
5,293

 
5,293

 
101

 
4,997

 
315

Total retail
44,586

 
45,656

 
1,270

 
49,380

 
1,835

Total impaired loans
$
442,148

 
505,506

 
33,476

 
622,046

 
14,861

 
 
 
 
 
 
 
 
 
 
Troubled Debt Restructurings
The following tables represent, by concession type, the post-modification balance for loans modified or renewed during the nine and three months ended September 30, 2015 and 2014 that were reported as accruing or non-accruing TDRs.
TDRs by Concession Type
 
 
 
Nine Months Ended September 30, 2015
 
(in thousands, except contract data)
Number of Contracts
 
Principal Forgiveness
 
Below Market Interest Rate
 
Term Extensions and/or Other Concessions
 
Total
 
Investment properties
5

 
$

 
16,932

 
6,905

 
23,837

 
1-4 family properties
31

 
14,823

 
4,078

 
1,774

 
20,675

 
Land acquisition
8

 

 
604

 
1,187

 
1,791

 
Total commercial real estate
44

 
14,823

 
21,614

 
9,866

 
46,303

 
Commercial, financial and agricultural
71

 

 
3,094

 
5,455

 
8,549

 
Owner-occupied
7

 

 
1,739

 
1,314

 
3,053

 
Total commercial and industrial
78

 

 
4,833

 
6,769

 
11,602

 
Home equity lines
53

 

 
2,826

 
2,905

 
5,731

 
Consumer mortgages
12

 

 
510

 
786

 
1,296

 
Credit cards

 

 

 

 

 
Other retail loans
20

 

 
259

 
634

 
893

 
Total retail
85

 

 
3,595

 
4,325

 
7,920

 
Total TDRs
207

 
$
14,823

 
30,042

 
20,960

 
65,825

(1 
) 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2015
 
(in thousands, except contract data)
Number of Contracts
 
Principal Forgiveness
 
Below Market Interest Rate
 
Term Extensions and/or Other Concessions
 
Total
 
Investment properties
1

 
$

 

 
3,090

 
3,090

 
1-4 family properties
10

 

 
721

 
895

 
1,616

 
Land acquisition
2

 

 

 
368

 
368

 
Total commercial real estate
13

 

 
721

 
4,353

 
5,074

 
Commercial, financial and agricultural
22

 

 
1,514

 
1,611

 
3,125

 
Owner-occupied
4

 

 

 
898

 
898

 
Total commercial and industrial
26

 

 
1,514

 
2,509

 
4,023

 
Home equity lines
5

 

 
309

 
757

 
1,066

 
Consumer mortgages

 

 

 

 

 
Credit cards

 

 

 

 

 
Other retail loans
7

 

 
2

 
139

 
141

 
Total retail
12

 

 
311

 
896

 
1,207

 
Total TDRs
51

 
$

 
2,546

 
7,758

 
10,304

(2 
) 
 
 
 
 
 
 
 
 
 
 
 
(1) Net charge-offs of $4.0 million were recorded during the nine months ended September 30, 2015 upon restructuring of these loans.
(2) No net charge-offs were recorded during the three months ended September 30, 2015 upon restructuring of these loans.



TDRs by Concession Type
 
 
 
Nine Months Ended September 30, 2014
 
(in thousands, except contract data)
Number of Contracts
 
Principal Forgiveness
 
Below Market Interest Rate
 
Term Extensions and/or Other Concessions
 
Total
 
Investment properties
14

 
$

 
8,423

 
5,598

 
14,021

 
1-4 family properties
36

 

 
2,390

 
3,859

 
6,249

 
Land acquisition
15

 
2,338

 
4,721

 
2,688

 
9,747

 
Total commercial real estate
65

 
2,338

 
15,534

 
12,145

 
30,017

 
Commercial, financial and agricultural
68

 
60

 
7,639

 
16,977

 
24,676

 
Owner-occupied
14

 

 
22,178

 
14,392

 
36,570

 
Total commercial and industrial
82

 
60

 
29,817

 
31,369

 
61,247

 
Home equity lines
11

 

 
1,163

 
451

 
1,614

 
Consumer mortgages
13

 

 
2,296

 
315

 
2,611

 
Credit cards

 

 

 

 

 
Other retail loans
17

 

 
543

 
385

 
928

 
Total retail
41

 

 
4,002

 
1,151

 
5,153

 
Total TDRs
188

 
$
2,398

 
49,354

 
44,665

 
96,417

(1 
) 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2014
 
(in thousands, except contract data)
Number of Contracts
 
Principal Forgiveness
 
Below Market Interest Rate
 
Term Extensions and/or Other Concessions
 
Total
 
Investment properties
4

 
$

 
875

 
3,899

 
4,774

 
1-4 family properties
7

 

 
879

 
203

 
1,082

 
Land acquisition
3

 
2,338

 
204

 
646

 
3,188

 
Total commercial real estate
14

 
2,338

 
1,958

 
4,748

 
9,044

 
Commercial, financial and agricultural
28

 
60

 
3,098

 
5,280

 
8,438

 
Owner-occupied
2

 

 
2,703

 
130

 
2,833

 
Total commercial and industrial
30

 
60

 
5,801

 
5,410

 
11,271

 
Home equity lines
5

 

 
435

 

 
435

 
Consumer mortgages
5

 

 
543

 
212

 
755

 
Credit cards

 

 

 


 

 
Other retail loans
7

 

 
101

 
150

 
251

 
Total retail
17

 

 
1,079

 
362

 
1,441

 
Total TDRs
61

 
$
2,398

 
8,838

 
10,520

 
21,756

(2 
) 
 
 
 
 
 
 
 
 
 
 
 

(1) Net charge-offs of $163 thousand were recorded during the nine months ended September 30, 2014 upon restructuring of these loans.
(2) Net charge-offs of $163 thousand were recorded during the three months ended September 30, 2014 upon restructuring of these loans.
Troubled Debt Restructurings that Subsequently Defaulted
The following table presents TDRs that defaulted in the periods indicated and which were modified or renewed in a TDR within 12 months of the default date.
 
 
Nine Months Ended September 30, 2015
 
Three Months Ended September 30, 2015
(in thousands, except contract data)
Number of
Contracts
 
Recorded
Investment
 
Number of
Contracts
 
Recorded
Investment
Investment properties

 
$

 

 
$

1-4 family properties

 

 

 

Land acquisition

 

 

 

Total commercial real estate

 

 

 

Commercial, financial and agricultural

 

 

 

Owner-occupied
1

 
438

 
1

 
438

Total commercial and industrial
1

 
438

 
1

 
438

Home equity lines
2

 
74

 
1

 
40

Consumer mortgages

 

 

 

Credit cards

 

 

 

Other retail loans
1

 
81

 

 

Total retail
3

 
155

 
1

 
40

Total TDRs
4

 
$
593

 
2

 
$
478

 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2014
 
Three Months Ended September 30, 2014
(in thousands, except contract data)
Number of
Contracts
 
Recorded
Investment
 
Number of
Contracts
 
Recorded
Investment
Investment properties
1

 
186

 

 
$

1-4 family properties
3

 
1,018

 

 

Land acquisition
1

 
428

 

 

Total commercial real estate
5

 
1,632

 

 

Commercial, financial and agricultural
4

 
1,559

 
2

 
181

Owner-occupied

 

 

 

Total commercial and industrial
4

 
1,559

 
2

 
181

Home equity lines

 

 

 

Consumer mortgages
3

 
206

 
2

 
136

Credit cards

 

 

 

Other retail loans

 

 

 

Total retail
3

 
206

 
2

 
136

Total TDRs
12

 
3,397

 
4

 
$
317