A summary of current, past due and nonaccrual loans as of September 30, 2019 and December 31, 2018 follows:

	Current		30-89 Days Past Due		Accruing Loans Past Due 90 Days or More (a)		Accruing Loans Acquired at a Discount Past Due 90 days or More (b)		Purchased Impaired (c)		Nonaccrual		Total
	(In thousands)
September 30, 2019
Commercial, financial, leasing, etc.	$	22,689,923		125,742		2,898		—		—		382,809	$	23,201,372
Real estate:
Commercial		25,613,988		186,157		8,387		15		14,406		184,632		26,007,585
Residential builder and developer		1,546,570		6,300		—		—		639		4,975		1,558,484
Other commercial construction		7,229,925		112,651		4,291		—		854		31,441		7,379,162
Residential		12,975,992		495,831		439,649		5,246		162,475		223,566		14,302,759
Residential — limited documentation		1,968,580		72,815		—		—		75,122		81,679		2,198,196
Consumer:
Home equity lines and loans		4,486,664		29,826		—		3,387		—		59,915		4,579,792
Recreational finance		5,262,857		27,880		—		—		—		11,852		5,302,589
Automobile		3,767,965		74,504		—		—		—		21,039		3,863,508
Other		1,373,612		14,771		5,937		32,085		—		3,341		1,429,746
Total	$	86,916,076		1,146,477		461,162		40,733		253,496		1,005,249	$	89,823,193

December 31, 2018
Commercial, financial, leasing, etc.	$	22,701,020		39,798		2,567		168		—		234,423	$	22,977,976
Real estate:
Commercial		25,250,983		134,474		11,457		10		9,769		203,672		25,610,365
Residential builder and developer		1,665,178		20,333		—		—		—		4,798		1,690,309
Other commercial construction		6,982,077		43,615		14,344		—		641		22,205		7,062,882
Residential		13,591,790		404,808		189,682		6,650		203,044		233,352		14,629,326
Residential — limited documentation		2,278,040		72,544		—		—		89,851		84,685		2,525,120
Consumer:
Home equity lines and loans		4,758,513		25,416		—		5,033		—		71,292		4,860,254
Recreational finance		4,085,781		29,947		—		235		—		11,199		4,127,162
Automobile		3,555,757		79,804		—		—		—		23,359		3,658,920
Other		1,271,811		15,598		4,477		27,654		—		4,623		1,324,163
Total	$	86,140,950		866,337		222,527		39,750		303,305		893,608	$	88,466,477

One-to-four family residential mortgage loans held for sale were $391 million and $205 million at September 30, 2019 and December 31, 2018, respectively. Commercial real estate loans held for sale were $197 million at September 30, 2019 and $347 million at December 31, 2018.

The outstanding principal balance and the carrying amount of loans acquired at a discount that were recorded at fair value at the acquisition date and included in the consolidated balance sheet were as follows:

Purchased impaired loans included in the table above totaled $253 million at September 30, 2019 and $303 million at December 31, 2018, representing less than 1% of the Company’s assets as of each date. A summary of changes in the accretable yield for loans acquired at a discount for the three months and nine months ended September 30, 2019 and 2018 follows:

Changes in the allowance for credit losses for the three months ended September 30, 2019 were as follows:

	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Unallocated			Total
	(In thousands)

Beginning balance	$	335,855			343,296			61,011			211,220			78,485		$	1,029,867
Provision for credit losses		24,538			(16,713	)		(309	)		37,735			(251	)		45,000
Net charge-offs
Charge-offs		(15,678	)		(1,107	)		(2,721	)		(40,735	)		—			(60,241	)
Recoveries		6,730			1,656			1,511			13,914			—			23,811
Net (charge-offs) recoveries		(8,948	)		549			(1,210	)		(26,821	)		—			(36,430	)
Ending balance	$	351,445			327,132			59,492			222,134			78,234		$	1,038,437

Changes in the allowance for credit losses for the three months ended September 30, 2018 were as follows:

	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Unallocated		Total
	(In thousands)

Beginning balance	$	328,830			353,761			76,123			182,987			77,547	$	1,019,248
Provision for credit losses		(6,972	)		(11,394	)		741			32,887			738		16,000
Net charge-offs
Charge-offs		(11,792	)		(1,941	)		(3,338	)		(34,995	)		—		(52,066	)
Recoveries		7,123			14,577			1,655			12,951			—		36,306
Net (charge-offs) recoveries		(4,669	)		12,636			(1,683	)		(22,044	)		—		(15,760	)
Ending balance	$	317,189			355,003			75,181			193,830			78,285	$	1,019,488

Changes in the allowance for credit losses for the nine months ended September 30, 2019 were as follows:

	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Unallocated		Total
	(In thousands)

Beginning balance	$	330,055			341,655			69,125			200,564			78,045	$	1,019,444
Provision for credit losses		41,146			(6,415	)		(5,132	)		92,212			189		122,000
Net charge-offs
Charge-offs		(40,786	)		(11,555	)		(9,356	)		(113,050	)		—		(174,747	)
Recoveries		21,030			3,447			4,855			42,408			—		71,740
Net charge-offs		(19,756	)		(8,108	)		(4,501	)		(70,642	)		—		(103,007	)
Ending balance	$	351,445			327,132			59,492			222,134			78,234	$	1,038,437

Changes in the allowance for credit losses for the nine months ended September 30, 2018 were as follows:

	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Unallocated			Total
	(In thousands)

Beginning balance	$	328,599			374,085			65,405			170,809			78,300		$	1,017,198
Provision for credit losses		11,508			(27,464	)		16,469			93,502			(15	)		94,000
Net charge-offs
Charge-offs		(41,273	)		(7,855	)		(11,658	)		(105,479	)		—			(166,265	)
Recoveries		18,355			16,237			4,965			34,998			—			74,555
Net (charge-offs) recoveries		(22,918	)		8,382			(6,693	)		(70,481	)		—			(91,710	)
Ending balance	$	317,189			355,003			75,181			193,830			78,285		$	1,019,488

Despite the allocation in the preceding tables, the allowance for credit losses is general in nature and is available to absorb losses from any loan or lease type.

In establishing the allowance for credit losses, the Company estimates losses attributable to specific troubled credits identified through both normal and targeted credit review processes and also estimates losses inherent in other loans and leases on a collective basis. For purposes of determining the level of the allowance for credit losses, the Company evaluates its loan and lease portfolio by loan type. The amounts of loss components in the Company’s loan and lease portfolios are determined through a loan-by-loan analysis of larger balance commercial loans and commercial real estate loans that are in nonaccrual status and by applying loss factors to groups of loan balances based on loan type and management’s classification of such loans under the Company’s loan grading system. Measurement of the specific loss components is typically based on expected future cash flows, collateral values and other factors that may impact the borrower’s ability to pay. In determining the allowance for credit losses, the Company utilizes a loan grading system which is applied to commercial and commercial real estate credits on an individual loan basis. Loan grades are assigned loss component factors that reflect the Company’s loss estimate for each group of loans and leases. Factors considered in assigning loan grades and loss component factors include borrower-specific information related to expected future cash flows and operating results, collateral values, geographic location, financial condition and performance, payment status, and other information; levels of and trends in portfolio charge-offs and recoveries; levels of and trends in portfolio delinquencies and impaired loans; changes in the risk profile of specific portfolios; trends in volume and terms of loans; effects of changes in credit concentrations; and observed trends and practices in the banking industry.

Information with respect to loans and leases that were considered impaired as of September 30, 2019 and December 31, 2018 and for the three-month and nine-month periods ended September 30, 2019 and 2018 follows.

	September 30, 2019						December 31, 2018
	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance		Related Allowance
	(In thousands)
With an allowance recorded:
Commercial, financial, leasing, etc.	$	245,355		273,931		60,410		153,478		175,549		46,034
Real estate:
Commercial		60,489		67,104		7,711		110,253		125,117		11,937
Residential builder and developer		8,893		9,311		319		5,981		6,557		462
Other commercial construction		12,821		25,437		1,477		10,563		11,113		640
Residential		125,498		146,098		6,748		124,974		147,817		5,402
Residential — limited documentation		67,729		81,918		2,600		74,156		90,066		3,000
Consumer:
Home equity lines and loans		46,858		51,759		8,923		47,982		53,248		9,135
Recreational finance		5,483		9,481		1,153		6,138		9,163		1,261
Automobile		3,478		3,526		708		3,527		3,599		729
Other		4,699		9,620		943		5,203		8,380		1,046
		581,303		678,185		90,992		542,255		630,609		79,646
With no related allowance recorded:
Commercial, financial, leasing, etc.		159,991		172,191		—		105,507		136,128		—
Real estate:
Commercial		144,554		163,120		—		113,376		124,657		—
Residential builder and developer		3,378		3,378		—		2,593		2,602		—
Other commercial construction		18,620		19,614		—		11,710		11,880		—
Residential		18,949		24,350		—		15,379		20,496		—
Residential — limited documentation		4,007		7,324		—		5,631		9,796		—
		349,499		389,977		—		254,196		305,559		—
Total:
Commercial, financial, leasing, etc.		405,346		446,122		60,410		258,985		311,677		46,034
Real estate:
Commercial		205,043		230,224		7,711		223,629		249,774		11,937
Residential builder and developer		12,271		12,689		319		8,574		9,159		462
Other commercial construction		31,441		45,051		1,477		22,273		22,993		640
Residential		144,447		170,448		6,748		140,353		168,313		5,402
Residential — limited documentation		71,736		89,242		2,600		79,787		99,862		3,000
Consumer:
Home equity lines and loans		46,858		51,759		8,923		47,982		53,248		9,135
Recreational finance		5,483		9,481		1,153		6,138		9,163		1,261
Automobile		3,478		3,526		708		3,527		3,599		729
Other		4,699		9,620		943		5,203		8,380		1,046
Total	$	930,802		1,068,162		90,992		796,451		936,168		79,646

	Three Months Ended September 30, 2019						Three Months Ended September 30, 2018
			Interest Income Recognized						Interest Income Recognized
	Average Recorded Investment		Total		Cash Basis		Average Recorded Investment		Total		Cash Basis
	(In thousands)

Commercial, financial, leasing, etc.	$	288,516		836		836		256,196		1,985		1,985
Real estate:
Commercial		201,931		1,798		1,798		204,315		1,489		1,489
Residential builder and developer		11,837		89		89		9,000		—		—
Other commercial construction		32,458		13		13		9,623		3,379		3,379
Residential		143,508		2,353		984		133,337		1,959		773
Residential — limited documentation		72,926		1,348		229		81,729		1,607		481
Consumer:
Home equity lines and loans		46,982		416		74		48,542		421		62
Recreational finance		5,562		147		4		3,531		65		1
Automobile		3,413		54		18		7,805		181		20
Other		5,220		145		1		3,919		61		5
Total	$	812,353		7,199		4,046		757,997		11,147		8,195

	Nine Months Ended September 30, 2019						Nine Months Ended September 30, 2018
			Interest Income Recognized						Interest Income Recognized
	Average Recorded Investment		Total		Cash Basis		Average Recorded Investment		Total		Cash Basis
	(In thousands)

Commercial, financial, leasing, etc.	$	275,896		7,501		7,501		266,594		4,101		4,101
Real estate:
Commercial		214,027		4,921		4,921		184,795		8,447		8,447
Residential builder and developer		10,101		239		239		9,111		1,682		1,682
Other commercial construction		25,126		589		589		9,056		3,438		3,438
Residential		142,155		6,765		2,654		126,910		6,190		2,612
Residential — limited documentation		75,702		4,153		655		83,700		4,763		1,494
Consumer:
Home equity lines and loans		47,325		1,238		193		48,661		1,268		220
Recreational finance		5,799		414		12		2,156		193		6
Automobile		3,465		161		55		11,189		630		49
Other		5,155		409		10		2,389		106		6
Total	$	804,751		26,390		16,829		744,561		30,818		22,055

Commercial loans and commercial real estate loans with a lower expectation of default are assigned one of ten possible “pass” loan grades and are generally ascribed lower loss factors when determining the allowance for credit losses. Loans with an elevated level of credit risk are classified as “criticized” and are ascribed a higher loss factor when determining the allowance for credit losses. Criticized loans may be classified as “nonaccrual” if the Company no longer expects to collect all amounts according to the contractual terms of the loan agreement or the loan is delinquent 90 days or more. Furthermore, criticized nonaccrual commercial loans and commercial real estate loans are considered impaired and, as a result, specific loss allowances on such loans are established within the allowance for credit losses to the extent appropriate in each individual instance.

The following table summarizes the loan grades applied to the various classes of the Company’s commercial loans and commercial real estate loans.

			Real Estate
	Commercial,				Residential		Other
	Financial,				Builder and		Commercial
	Leasing, etc.		Commercial		Developer		Construction
	(In thousands)
September 30, 2019
Pass	$	21,893,239		25,095,663		1,447,978		7,122,983
Criticized accrual		925,324		727,291		105,531		224,738
Criticized nonaccrual		382,809		184,632		4,975		31,441
Total	$	23,201,372		26,007,586		1,558,484		7,379,162
December 31, 2018
Pass	$	21,693,705		24,539,706		1,546,002		6,890,562
Criticized accrual		1,049,848		866,987		139,509		150,115
Criticized nonaccrual		234,423		203,672		4,798		22,205
Total	$	22,977,976		25,610,365		1,690,309		7,062,882

In determining the allowance for credit losses, residential real estate loans and consumer loans are generally evaluated collectively after considering such factors as payment performance and recent loss experience and trends, which are mainly driven by current collateral values in the market place as well as the amount of loan defaults. Loss rates on such loans are determined by reference to recent charge-off history and are evaluated (and adjusted if deemed appropriate) through consideration of other factors including near-term forecasted loss estimates developed by the Company’s credit department. In arriving at such forecasts, the Company considers the current estimated fair value of its collateral based on geographical adjustments for home price depreciation/appreciation and overall borrower repayment performance. With regard to collateral values, the realizability of such values by the Company contemplates repayment of any first lien position prior to recovering amounts on a second lien position. However, residential real estate loans and outstanding balances of home equity loans and lines of credit that are more than 150 days past due are generally evaluated for collectibility on a loan-by-loan basis giving consideration to estimated collateral values. The carrying value of residential real estate loans and home equity loans and lines of credit for which a partial charge-off has been recognized totaled $26 million and $20 million, respectively, at September 30, 2019 and $29 million and $23 million, respectively, at December 31, 2018. Residential real estate loans and home equity loans and lines of credit that were more than 150 days past due but did not require a partial charge-off because the net realizable value of the collateral exceeded the outstanding customer balance were $19 million and $29 million, respectively, at September 30, 2019 and $21 million and $31 million, respectively, at December 31, 2018.

The Company also measures additional losses for purchased impaired loans when it is probable that the Company will be unable to collect all cash flows expected at acquisition plus additional cash flows expected to be collected arising from changes in estimates after acquisition. The determination of the allocated portion of the allowance for credit losses is very subjective. Given that inherent subjectivity and potential imprecision involved in determining the allocated portion of the allowance for credit losses, the Company also provides an inherent unallocated portion of the allowance. The unallocated portion of the allowance is intended to recognize probable losses that are not otherwise identifiable and includes management’s subjective determination of amounts necessary to provide for the possible use of imprecise estimates in determining the allocated portion of the allowance. Therefore, the level of the unallocated portion of the allowance is primarily reflective of the inherent imprecision in the various calculations used in determining the allocated portion of the allowance for credit losses. Other factors that could also lead to changes in the unallocated portion include the effects of expansion into new markets for which the Company does not have the same degree of familiarity and experience regarding portfolio performance in changing market conditions, the introduction of new loan and lease product types, and other risks associated with the Company’s loan portfolio that may not be specifically identifiable.

The allocation of the allowance for credit losses summarized on the basis of the Company’s impairment methodology was as follows:

	Commercial, Financial,		Real Estate
	Leasing, etc.		Commercial		Residential		Consumer		Total
	(In thousands)
September 30, 2019
Individually evaluated for impairment	$	60,410		9,507		9,348		11,727	$	90,992
Collectively evaluated for impairment		291,035		317,625		44,766		210,407		863,833
Purchased impaired		—		—		5,378		—		5,378
Allocated	$	351,445		327,132		59,492		222,134		960,203
Unallocated										78,234
Total									$	1,038,437
December 31, 2018
Individually evaluated for impairment	$	46,034		13,039		8,402		12,171	$	79,646
Collectively evaluated for impairment		284,021		328,616		48,326		188,393		849,356
Purchased impaired		—		—		12,397		—		12,397
Allocated	$	330,055		341,655		69,125		200,564		941,399
Unallocated										78,045
Total									$	1,019,444

The recorded investment in loans and leases summarized on the basis of the Company’s impairment methodology was as follows:

	Commercial, Financial,		Real Estate
	Leasing, etc.		Commercial		Residential		Consumer		Total
	(In thousands)
September 30, 2019
Individually evaluated for impairment	$	405,346		248,755		216,183		60,518	$	930,802
Collectively evaluated for impairment		22,796,026		34,680,577		16,047,175		15,115,117		88,638,895
Purchased impaired		—		15,899		237,597		—		253,496
Total	$	23,201,372		34,945,231		16,500,955		15,175,635	$	89,823,193
December 31, 2018
Individually evaluated for impairment	$	258,985		254,476		220,140		62,850	$	796,451
Collectively evaluated for impairment		22,718,991		34,098,670		16,641,411		13,907,649		87,366,721
Purchased impaired		—		10,410		292,895		—		303,305
Total	$	22,977,976		34,363,556		17,154,446		13,970,499	$	88,466,477

During the normal course of business, the Company modifies loans to maximize recovery efforts. If the borrower is experiencing financial difficulty and a concession is granted, the Company considers such modifications as troubled debt restructurings and classifies those loans as either nonaccrual loans or renegotiated loans. The types of concessions that the Company grants typically include principal deferrals and interest rate concessions, but may also include other types of concessions.

The table that follows summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the three-month and nine-month periods ended September 30, 2019 and 2018:

					Post-modification (a)
	Number		Pre- modification Recorded Investment		Principal Deferral		Interest Rate Reduction		Other		Combination of Concession Types		Total
Three Months Ended September 30, 2019	(Dollars in thousands)

Commercial, financial, leasing, etc.	26		$	6,145	$	1,441	$	—	$	—	$	4,666	$	6,107
Real estate:
Commercial		9		2,986		383		—		—		2,589		2,972
Residential		20		5,161		3,046		—		—		2,535		5,581
Residential — limited documentation		1		236		—		—		—		240		240
Consumer:
Home equity lines and loans		12		1,392		—		—		—		1,399		1,399
Recreational finance		3		61		61		—		—		—		61
Automobile		26		485		457		—		—		28		485
Total		97	$	16,466	$	5,388	$	—	$	—	$	11,457	$	16,845

Three Months Ended September 30, 2018

Commercial, financial, leasing, etc.		47	$	6,837	$	1,683	$	5	$	—	$	5,018	$	6,706
Real estate:
Commercial		18		11,581		1,493		—		3,475		6,297		11,265
Residential		34		8,182		6,026		—		—		3,002		9,028
Residential — limited documentation		3		716		—		—		—		847		847
Consumer:
Home equity lines and loans		17		1,651		220		—		—		1,450		1,670
Recreational finance		2		44		44		—		—		—		44
Automobile		30		526		526		—		—		—		526
Total		151	$	29,537	$	9,992	$	5	$	3,475	$	16,614	$	30,086

					Post-modification (a)
Nine Months Ended September 30, 2019	Number		Pre- modification Recorded Investment		Principal Deferral		Interest Rate Reduction		Other		Combination of Concession Types		Total
	(Dollars in thousands)

Commercial, financial, leasing, etc.		115	$	39,357	$	8,582	$	—	$	—	$	30,827	$	39,409
Real estate:
Commercial		38		22,567		3,947		—		—		18,197		22,144
Residential builder and developer		2		1,330		1,068		—		—		—		1,068
Other commercial construction		2		1,456		—		—		—		1,399		1,399
Residential		63		16,490		8,805		—		—		8,842		17,647
Residential — limited documentation		4		1,084		399		—		—		705		1,104
Consumer:
Home equity lines and loans		32		3,141		90		—		—		3,078		3,168
Recreational finance		8		164		164		—		—		—		164
Automobile		58		991		926		—		—		65		991
Total		322	$	86,580	$	23,981	$	—	$	—	$	63,113	$	87,094

Nine Months Ended September 30, 2018

Commercial, financial, leasing, etc.		150	$	96,221	$	47,029	$	658	$	6,111	$	43,086	$	96,884
Real estate:
Commercial		66		25,561		14,693		175		3,869		7,224		25,961
Other commercial construction		1		752		746		—		—		—		746
Residential		111		28,769		15,785		—		—		15,670		31,455
Residential — limited documentation		8		1,595		467		—		—		1,423		1,890
Consumer:
Home equity lines and loans		41		3,554		224		—		—		3,357		3,581
Recreational finance		4		93		93		—		—		—		93
Automobile		57		1,007		995		—		—		12		1,007
Total		438	$	157,552	$	80,032	$	833	$	9,980	$	70,772	$	161,617

Troubled debt restructurings are considered to be impaired loans and for purposes of establishing the allowance for credit losses are evaluated for impairment giving consideration to the impact of the modified loan terms on the present value of the loan’s expected cash flows. Impairment of troubled debt restructurings that have subsequently defaulted may also be measured based on the loan’s observable market price or the fair value of collateral if the loan is collateral-dependent. Charge-offs may also be recognized on troubled debt restructurings that have subsequently defaulted. Loans that were modified as troubled debt restructurings during the twelve months ended September 30, 2019 and 2018 and for which there was a subsequent payment default during the nine-month periods ended September 30, 2019 and 2018, respectively, were not material.

The amount of foreclosed residential real estate property held by the Company was $70 million and $77 million at September 30, 2019 and December 31, 2018, respectively. There were $391 million in loans secured by residential real estate that were in the process of foreclosure at both September 30, 2019 and December 31, 2018. Of all loans in the process of foreclosure at September 30, 2019, approximately 27% were classified as purchased impaired and 33% were government guaranteed.

The Company’s loan and lease portfolio includes commercial lease financing receivables consisting of direct financing and leveraged leases for machinery and equipment, railroad equipment, commercial trucks and trailers, and aircraft. Certain leases contain payment schedules that are tied to variable interest rate indices. In general, early termination options are provided if the lessee is not in default, returns the leased equipment and pays an early termination fee. Additionally, options to purchase the underlying asset by the lessee are generally at the fair market value of the equipment. Effective January 1, 2019, the Company adopted new guidance related to lease accounting published by the Financial Accounting Standards Board (“FASB”). Under the new guidance, the accounting applied by lessors is largely unchanged from previous GAAP, however, the guidance eliminates the accounting model for leveraged leases that commence after the effective date of the guidance. A summary of lease financing receivables follows:

Included within the estimated residual value of leased assets at September 30, 2019 and December 31, 2018 were $38 million and $39 million, respectively, in residual value associated with direct financing leases that are guaranteed by the lessees or others.

At September 30, 2019, the minimum future lease payments to be received from lease financings were as follows: