XML 22 R33.htm IDEA: XBRL DOCUMENT v2.4.1.9
Loan and Lease Financings (Tables)
 12 Months Ended
Dec. 31, 2014
Receivables [Abstract]  
Summary of the gross investment in lease financing and the components of the investment in lease financing
The following table shows the summary of the gross investment in lease financing and the components of the investment in lease financing at December 31, 2014 and 2013.
(Dollars in thousands)
 
2014
 
2013
Direct finance leases:
 
 

 
 

Rentals receivable
 
$
234,772

 
$
245,207

Estimated residual value of leased assets
 
13,458

 
12,537

Gross investment in lease financing
 
248,230

 
257,744

Unearned income
 
(37,356
)
 
(38,946
)
Net investment in lease financing
 
$
210,874

 
$
218,798
Schedule of credit quality grades of the recorded investment in loans and leases, segregated by class
The following table shows the credit quality grades of the recorded investment in loans and leases, segregated by class.
 
 
Credit Quality Grades
(Dollars in thousands) 
 
1-6
 
7-12
 
Total
December 31, 2014
 
 

 
 

 
 

Commercial and agricultural loans
 
$
683,169

 
$
27,589

 
$
710,758

Auto and light truck
 
380,425

 
17,477

 
397,902

Medium and heavy duty truck
 
243,798

 
3,355

 
247,153

Aircraft financing
 
691,018

 
36,647

 
727,665

Construction equipment financing
 
393,965

 
5,975

 
399,940

Commercial real estate
 
592,787

 
23,800

 
616,587

Total
 
$
2,985,162

 
$
114,843

 
$
3,100,005

December 31, 2013
 
 

 
 

 
 

Commercial and agricultural loans
 
$
652,620

 
$
26,872

 
$
679,492

Auto and light truck
 
378,392

 
13,257

 
391,649

Medium and heavy duty truck
 
235,465

 
2,389

 
237,854

Aircraft financing
 
704,997

 
33,136

 
738,133

Construction equipment financing
 
325,849

 
7,239

 
333,088

Commercial real estate
 
557,692

 
26,305

 
583,997

Total
 
$
2,855,015

 
$
109,198

 
$
2,964,213
Schedule of recorded investment in residential real estate and consumer loans by performing or nonperforming status
The following table shows the recorded investment in residential real estate and consumer loans by performing or nonperforming status. Nonperforming loans are those loans which are on nonaccrual status or are 90 days or more past due.
(Dollars in thousands) 
 
Performing
 
Nonperforming
 
Total
December 31, 2014
 
 

 
 

 
 

Residential real estate
 
$
442,918

 
$
2,841

 
$
445,759

Consumer
 
142,476

 
334

 
142,810

Total
 
$
585,394

 
$
3,175

 
$
588,569

December 31, 2013
 
 

 
 

 
 

Residential real estate
 
$
458,385

 
$
2,596

 
$
460,981

Consumer
 
123,663

 
467

 
124,130

Total
 
$
582,048

 
$
3,063

 
$
585,111
Schedule of recorded investment of loans and leases, segregated by class, with delinquency aging and nonaccrual status
The following table shows the recorded investment of loans and leases, segregated by class, with delinquency aging and nonaccrual status.
(Dollars in thousands) 
 
Current
 
30-59 Days Past Due
 
60-89 Days Past Due
 
90 Days or More Past Due and Accruing
 
Total Accruing Loans
 
Nonaccrual
 
Total Financing Receivables
December 31, 2014
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Commercial and agricultural loans
 
$
696,351

 
$
—

 
$
123

 
$
—

 
$
696,474

 
$
14,284

 
$
710,758

Auto and light truck
 
397,815

 
48

 
1

 
—

 
397,864

 
38

 
397,902

Medium and heavy duty truck
 
247,097

 
—

 
—

 
—

 
247,097

 
56

 
247,153

Aircraft financing
 
699,054

 
541

 
15,597

 
—

 
715,192

 
12,473

 
727,665

Construction equipment financing
 
396,821

 
999

 
1,369

 
—

 
399,189

 
751

 
399,940

Commercial real estate
 
611,780

 
—

 
—

 
—

 
611,780

 
4,807

 
616,587

Residential real estate
 
441,508

 
1,099

 
311

 
873

 
443,791

 
1,968

 
445,759

Consumer
 
141,577

 
676

 
223

 
109

 
142,585

 
225

 
142,810

Total
 
$
3,632,003

 
$
3,363

 
$
17,624

 
$
982

 
$
3,653,972

 
$
34,602

 
$
3,688,574

December 31, 2013
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Commercial and agricultural loans
 
$
667,462

 
$
263

 
$
2

 
$
—

 
$
667,727

 
$
11,765

 
$
679,492

Auto and light truck
 
387,881

 
222

 
36

 
—

 
388,139

 
3,510

 
391,649

Medium and heavy duty truck
 
237,645

 
20

 
—

 
—

 
237,665

 
189

 
237,854

Aircraft financing
 
713,832

 
10,309

 
3,627

 
—

 
727,768

 
10,365

 
738,133

Construction equipment financing
 
331,083

 
973

 
—

 
—

 
332,056

 
1,032

 
333,088

Commercial real estate
 
576,933

 
—

 
—

 
—

 
576,933

 
7,064

 
583,997

Residential real estate
 
456,782

 
1,334

 
269

 
197

 
458,582

 
2,399

 
460,981

Consumer
 
122,657

 
786

 
220

 
84

 
123,747

 
383

 
124,130

Total
 
$
3,494,275

 
$
13,907

 
$
4,154

 
$
281

 
$
3,512,617

 
$
36,707

 
$
3,549,324
Schedule of impaired loans and leases, segregated by class, and the corresponding reserve for impaired loan and lease losses
The following table shows impaired loans and leases, segregated by class, and the corresponding reserve for impaired loan and lease losses.
(Dollars in thousands) 
 
Recorded Investment
 
Unpaid Principal Balance
 
Related Reserve
December 31, 2014
 
 

 
 

 
 

With no related reserve recorded:
 
 

 
 

 
 

Commercial and agricultural loans
 
$
14,468

 
$
14,467

 
$
—

Auto and light truck
 
—

 
—

 
—

Medium and heavy duty truck
 
—

 
—

 
—

Aircraft financing
 
12,740

 
12,741

 
—

Construction equipment financing
 
746

 
746

 
—

Commercial real estate
 
11,707

 
11,707

 
—

Residential real estate
 
—

 
—

 
—

Consumer
 
—

 
—

 
—

Total with no related reserve recorded
 
39,661

 
39,661

 
—

With a reserve recorded:
 
 

 
 

 
 

Commercial and agricultural loans
 
74

 
74

 
5

Auto and light truck
 
—

 
—

 
—

Medium and heavy duty truck
 
—

 
—

 
—

Aircraft financing
 
—

 
—

 
—

Construction equipment financing
 
—

 
—

 
—

Commercial real estate
 
798

 
798

 
80

Residential real estate
 
373

 
376

 
156

Consumer
 
—

 
—

 
—

Total with a reserve recorded
 
1,245

 
1,248

 
241

Total impaired loans
 
$
40,906

 
$
40,909

 
$
241

December 31, 2013
 
 

 
 

 
 

With no related reserve recorded:
 
 

 
 

 
 

Commercial and agricultural loans
 
$
11,231

 
$
11,230

 
$
—

Auto and light truck
 
3,499

 
3,499

 
—

Medium and heavy duty truck
 
—

 
—

 
—

Aircraft financing
 
9,764

 
9,764

 
—

Construction equipment financing
 
938

 
938

 
—

Commercial real estate
 
14,897

 
14,897

 
—

Residential real estate
 
—

 
—

 
—

Consumer
 
—

 
—

 
—

Total with no related reserve recorded
 
40,329

 
40,328

 
—

With a reserve recorded:
 
 

 
 

 
 

Commercial and agricultural loans
 
—

 
—

 
—

Auto and light truck
 
—

 
—

 
—

Medium and heavy duty truck
 
—

 
—

 
—

Aircraft financing
 
563

 
563

 
113

Construction equipment financing
 
—

 
—

 
—

Commercial real estate
 
—

 
—

 
—

Residential real estate
 
381

 
381

 
161

Consumer
 
—

 
—

 
—

Total with a reserve recorded
 
944

 
944

 
274

Total impaired loans
 
$
41,273

 
$
41,272

 
$
274
Schedule of average recorded investment and interest income recognized on impaired loans and leases, segregated by class
The following table shows average recorded investment and interest income recognized on impaired loans and leases, segregated by class, for years ending December 31, 2014, 2013 and 2012.
 
 
2014
 
2013
 
2012
(Dollars in thousands) 
 
Average
Recorded
Investment
 
Interest
Income
 
Average
Recorded
Investment
 
Interest
Income
 
Average
Recorded
Investment
 
Interest
Income
Commercial and agricultural loans
 
$
16,325

 
$
48

 
$
10,077

 
$
143

 
$
9,322

 
$
16

Auto and light truck
 
407

 
—

 
488

 
—

 
1,590

 
7

Medium and heavy duty truck
 
—

 
—

 
431

 
—

 
1,219

 
2

Aircraft financing
 
4,088

 
28

 
9,254

 
79

 
7,976

 
—

Construction equipment financing
 
938

 
—

 
2,799

 
5

 
4,409

 
6

Commercial real estate
 
13,162

 
588

 
17,655

 
610

 
22,126

 
441

Residential real estate
 
376

 
16

 
32

 
—

 
87

 
6

Consumer loans
 
—

 
—

 
—

 
—

 
—

 
—

Total
 
$
35,296

 
$
680

 
$
40,736

 
$
837

 
$
46,729

 
$
478
Schedule of loans and leases classified as troubled debt restructuring and number of modifications
The following table shows the number of loans and leases classified as troubled debt restructuring (TDR) during 2014, 2013 and 2012, segregated by class, as well as the recorded investment as of December 31. The classification between nonperforming and performing is shown at the time of modification. Modification programs focused on extending maturity dates or modifying payment patterns with most TDRs experiencing a combination of concessions. The modifications did not result in the contractual forgiveness of principal or interest. There were three modifications during 2014, two modifications during 2013, and no modifications during 2012 that resulted in an interest rate reduction below market rate. Consequently, the financial impact of the modifications was immaterial.
 
 
2014
 
2013
 
2012
(Dollars in thousands)
 
Number of Modifications
 
Recorded Investment
 
Number of Modifications
 
Recorded Investment
 
Number of Modifications
 
Recorded Investment
Performing TDRs:
 
 

 
 

 
 

 
 

 
 
 
 
Commercial and agricultural loans
 
2

 
$
273

 
1

 
$
750

 
1

 
$
127

Auto and light truck
 
—

 
—

 
—

 
—

 
—

 
—

Medium and heavy duty truck
 
—

 
—

 
—

 
—

 
—

 
—

Aircraft financing
 
2

 
337

 
—

 
—

 
—

 
—

Construction equipment financing
 
—

 
—

 
—

 
—

 
—

 
—

Commercial real estate
 
—

 
—

 
—

 
—

 
1

 
7,014

Residential real estate
 
—

 
—

 
1

 
381

 
1

 
101

Consumer
 
—

 
—

 
—

 
—

 
—

 
—

Total performing TDR modifications
 
4

 
610

 
2

 
1,131

 
3

 
7,242

Nonperforming TDRs:
 
 

 
 

 
 

 
 

 
 
 
 
Commercial and agricultural loans
 
4

 
7,315

 
1

 
158

 
—

 
—

Auto and light truck
 
—

 
—

 
—

 
—

 
—

 
—

Medium and heavy duty truck
 
—

 
—

 
—

 
—

 
—

 
—

Aircraft financing
 
—

 
—

 
1

 
4,157

 
—

 
—

Construction equipment financing
 
—

 
—

 
—

 
—

 
3

 
1,316

Commercial real estate
 
1

 
798

 
—

 
—

 
1

 
1,141

Residential real estate
 
—

 
—

 
—

 
—

 
—

 
—

Consumer
 
—

 
—

 
—

 
—

 
—

 
—

Total nonperforming TDR modifications
 
5

 
8,113

 
2

 
4,315

 
4

 
2,457

Total TDR modifications
 
9

 
$
8,723

 
4

 
$
5,446

 
7

 
$
9,699
Schedule of troubled debt restructured loans and leases which had payment defaults within twelve months following modification
The following table shows the number of troubled debt restructured loans and leases which had payment defaults within twelve months following modification during the years ended December 31, 2014, 2013 and 2012, segregated by class, as well as the recorded investment as of December 31. The classification between nonperforming and performing is shown at the time of modification. Default occurs when a loan or lease is 90 days or more past due under the modified terms or transferred to nonaccrual.
 
 
2014
 
2013
 
2012
(Dollars in thousands)
 
Number of Defaults
 
Recorded Investment
 
Number of Defaults
 
Recorded Investment
 
Number of Defaults
 
Recorded Investment
Performing TDRs:
 
 

 
 

 
 

 
 

 
 
 
 
Commercial and agricultural loans
 
—

 
$
—

 
1

 
$
750

 
—

 
$
—

Auto and light truck
 
—

 
—

 
—

 
—

 
—

 
—

Medium and heavy duty truck
 
—

 
—

 
—

 
—

 
—

 
—

Aircraft financing
 
—

 
—

 
—

 
—

 
—

 
—

Construction equipment financing
 
—

 
—

 
—

 
—

 
—

 
—

Commercial real estate
 
—

 
—

 
—

 
—

 
—

 
—

Residential real estate
 
—

 
—

 
—

 
—

 
—

 
—

Consumer
 
—

 
—

 
—

 
—

 
—

 
—

Total performing TDR defaults
 
—

 
—

 
1

 
750

 
—

 
—

Nonperforming TDRs:
 
 

 
 

 
 

 
 

 
 
 
 
Commercial and agricultural loans
 
1

 
255

 
—

 
—

 
3

 
113

Auto and light truck
 
—

 
—

 
—

 
—

 
—

 
—

Medium and heavy duty truck
 
—

 
—

 
—

 
—

 
—

 
—

Aircraft financing
 
—

 
—

 
—

 
—

 
—

 
—

Construction equipment financing
 
—

 
—

 
—

 
—

 
1

 
—

Commercial real estate
 
—

 
—

 
1

 
—

 
2

 
171

Residential real estate
 
—

 
—

 
—

 
—

 
—

 
—

Consumer
 
—

 
—

 
—

 
—

 
—

 
—

Total nonperforming TDR defaults
 
1

 
255

 
1

 
—

 
6

 
284

Total TDR defaults
 
1

 
$
255

 
2

 
$
750

 
6

 
$
284
Schedule of recorded investment in loans and leases classified as troubled debt restructuring
The following table shows the recorded investment of loans and leases classified as troubled debt restructurings as of December 31.
Year Ended December 31 (Dollars in thousands)
 
2014
 
2013
Performing TDRs
 
$
9,118

 
$
8,786

Nonperforming TDRs
 
14,507

 
11,824

Total TDRs
 
$
23,625

 
$
20,610