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Loans and Allowance for Credit Losses
 3 Months Ended
Mar. 31, 2013
Receivables [Abstract]  
Loans and Allowance for Credit Losses
Loans and Allowance for Credit Losses
Loans, Net of Unearned Income
Loans, net of unearned income are summarized as follows:
 
March 31, 2013
 
December 31, 2012
 
(in thousands)
Real-estate - commercial mortgage
$
4,729,930

 
$
4,664,426

Commercial - industrial, financial and agricultural
3,658,483

 
3,612,065

Real-estate - home equity
1,689,446

 
1,632,390

Real-estate - residential mortgage
1,303,454

 
1,257,432

Real-estate - construction
597,597

 
584,118

Consumer
309,138

 
309,864

Leasing and other
78,801

 
75,521

Overdrafts
17,906

 
18,393

Loans, gross of unearned income
12,384,755

 
12,154,209

Unearned income
(7,467
)
 
(7,238
)
Loans, net of unearned income
$
12,377,288

 
$
12,146,971


Allowance for Credit Losses
The allowance for credit losses consists of the allowance for loan losses and the reserve for unfunded lending commitments. The allowance for loan losses represents management’s estimate of incurred losses in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The reserve for unfunded lending commitments represents management’s estimate of incurred losses in its unfunded loan commitments and is recorded in other liabilities on the consolidated balance sheet. The allowance for credit losses is increased by charges to expense, through the provision for credit losses, and decreased by charge-offs, net of recoveries.
The Corporation’s allowance for credit losses includes: (1) specific allowances allocated to loans evaluated for impairment under the Financial Accounting Standards Board’s (FASB) Accounting Standards Codification (ASC) Section 310-10-35; and (2) allowances calculated for pools of loans measured for impairment under FASB ASC Subtopic 450-20.
The Corporation segments its loan portfolio by general loan type, or "portfolio segments," as presented in the table under the heading, "Loans, Net of Unearned Income," above. Certain portfolio segments are further disaggregated and evaluated collectively for impairment based on “class segments,” which are largely based on the type of collateral underlying each loan. For commercial loans, class segments include loans secured by collateral and unsecured loans. Construction loan class segments include loans secured by commercial real estate, loans to commercial borrowers secured by residential real estate and loans to individuals secured by residential real estate. Consumer loan class segments are based on collateral types and include direct consumer installment loans and indirect automobile loans.
The following table presents the components of the allowance for credit losses:
 
March 31,
2013
 
December 31,
2012
 
(in thousands)
Allowance for loan losses
$
220,041

 
$
223,903

Reserve for unfunded lending commitments
1,486

 
1,536

Allowance for credit losses
$
221,527

 
$
225,439


The following table presents the activity in the allowance for credit losses for the three months ended March 31:
 
2013
 
2012
 
(in thousands)
Balance at beginning of period
$
225,439

 
$
258,177

Loans charged off
(22,106
)
 
(30,259
)
Recoveries of loans previously charged off
3,194

 
2,219

Net loans charged off
(18,912
)
 
(28,040
)
Provision for credit losses
15,000

 
28,000

Balance at end of period
$
221,527

 
$
258,137


The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2013 and 2012:
 
Real Estate -
Commercial
Mortgage
 
Commercial -
Industrial,
Financial and
Agricultural
 
Real Estate -
Home
Equity
 
Real Estate -
Residential
Mortgage
 
Real Estate -
Construction
 
Consumer
 
Leasing
and other
and
overdrafts
 
Unallocated
 
Total
 
(in thousands)
Three months ended March 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2012
$
62,928

 
$
60,205

 
$
22,776

 
$
34,536

 
$
17,287

 
$
2,367

 
$
2,752

 
$
21,052

 
$
223,903

Loans charged off
(4,133
)
 
(9,502
)
 
(2,404
)
 
(3,050
)
 
(1,986
)
 
(550
)
 
(481
)
 
—

 
(22,106
)
Recoveries of loans previously charged off
1,064

 
379

 
331

 
81

 
671

 
506

 
162

 
—

 
3,194

Net loans charged off
(3,069
)
 
(9,123
)
 
(2,073
)
 
(2,969
)
 
(1,315
)
 
(44
)
 
(319
)
 
—

 
(18,912
)
Provision for loan losses (1)
4,126

 
5,590

 
2,998

 
1,917

 
32

 
(37
)
 
354

 
70

 
15,050

Balance at March 31, 2013
$
63,985

 
$
56,672

 
$
23,701

 
$
33,484

 
$
16,004

 
$
2,286

 
$
2,787

 
$
21,122

 
$
220,041

Three months ended March 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2011
$
85,112

 
$
74,896

 
$
12,841

 
$
22,986

 
$
30,066

 
$
2,083

 
$
2,397

 
$
26,090

 
$
256,471

Loans charged off
(11,891
)
 
(5,669
)
 
(2,206
)
 
(847
)
 
(8,571
)
 
(634
)
 
(441
)
 
—

 
(30,259
)
Recoveries of loans previously charged off
816

 
636

 
20

 
73

 
64

 
350

 
260

 
—

 
2,219

Net loans charged off
(11,075
)
 
(5,033
)
 
(2,186
)
 
(774
)
 
(8,507
)
 
(284
)
 
(181
)
 
—

 
(28,040
)
Provision for loan losses (1)
7,615

 
9,893

 
2,428

 
2,639

 
9,627

 
(156
)
 
1,058

 
(5,039
)
 
28,065

Balance at March 31, 2012
$
81,652

 
$
79,756

 
$
13,083

 
$
24,851

 
$
31,186

 
$
1,643

 
$
3,274

 
$
21,051

 
$
256,496

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
The provision for loan losses is gross of a $50,000 and $65,000 decrease, respectively, in the reserve for unfunded lending commitments for the three months ended March 31, 2013 and 2012. The total provision for credit losses, comprised of allocations for both funded and unfunded loans, was $15.0 million and $28.0 million, respectively, for the three months ended March 31, 2013 and 2012.
The following table presents loans, net of unearned income and their related allowance for loan losses, by portfolio segment, as of March 31, 2013 and 2012:
 
Real Estate -
Commercial
Mortgage
 
Commercial -
Industrial,
Financial and
Agricultural
 
Real Estate -
Home
Equity
 
Real Estate -
Residential
Mortgage
 
Real Estate -
Construction
 
Consumer
 
Leasing
and other
and
overdrafts
 
Unallocated
(1)
 
Total
 
(in thousands)
Allowance for loan losses at March 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Measured for impairment under FASB ASC Subtopic 450-20
$
40,920

 
$
38,988

 
$
14,947

 
$
10,075

 
$
8,838

 
$
2,271

 
$
2,758

 
$
21,122

 
$
139,919

Evaluated for impairment under FASB ASC Section 310-10-35
23,065

 
17,684

 
8,754

 
23,409

 
7,166

 
15

 
29

 
N/A

 
80,122

 
$
63,985

 
$
56,672

 
$
23,701

 
$
33,484

 
$
16,004

 
$
2,286

 
$
2,787

 
$
21,122

 
$
220,041

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans, net of unearned income at March 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Measured for impairment under FASB ASC Subtopic 450-20
$
4,646,355

 
$
3,591,753

 
$
1,675,577

 
$
1,247,976

 
$
554,757

 
$
309,120

 
$
89,195

 
N/A

 
$
12,114,733

Evaluated for impairment under FASB ASC Section 310-10-35
83,575

 
66,730

 
13,869

 
55,478

 
42,840

 
18

 
45

 
N/A

 
262,555

 
$
4,729,930

 
$
3,658,483

 
$
1,689,446

 
$
1,303,454

 
$
597,597

 
$
309,138

 
$
89,240

 
N/A

 
$
12,377,288

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at March 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Measured for impairment under FASB ASC Subtopic 450-20
$
50,619

 
$
47,484

 
$
9,549

 
$
8,045

 
$
17,551

 
$
1,638

 
$
3,253

 
$
21,051

 
$
159,190

Evaluated for impairment under FASB ASC Section 310-10-35
31,033

 
32,272

 
3,534

 
16,806

 
13,635

 
5

 
21

 
N/A

 
97,306

 
$
81,652

 
$
79,756

 
$
13,083

 
$
24,851

 
$
31,186

 
$
1,643

 
$
3,274

 
$
21,051

 
$
256,496

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans, net of unearned income at March 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Measured for impairment under FASB ASC Subtopic 450-20
$
4,523,691

 
$
3,441,018

 
$
1,595,522

 
$
1,136,726

 
$
581,381

 
$
309,160

 
$
71,094

 
N/A

 
$
11,658,592

Evaluated for impairment under FASB ASC Section 310-10-35
110,737

 
77,210

 
6,358

 
40,748

 
66,319

 
8

 
32

 
N/A

 
301,412

 
$
4,634,428

 
$
3,518,228

 
$
1,601,880

 
$
1,177,474

 
$
647,700

 
$
309,168

 
$
71,126

 
N/A

 
$
11,960,004

 
(1)
The unallocated allowance, which was approximately 10% and 8% of the total allowance for credit losses as of March 31, 2013 and March 31, 2012, respectively, was, in the opinion of management, reasonable and appropriate given that the estimates used in the allocation process are inherently imprecise.
N/A – Not applicable.
In March 2013, the Corporation sold $9.9 million of non-accrual commercial mortgage, commercial and construction loans to an investor, resulting in a total increase to charge-offs of $5.2 million during the three months ended March 31, 2013. Below is a summary of the transaction:
 
Real Estate - Commercial mortgage
 
Commercial - industrial, financial and agricultural
 
Real Estate - Construction
 
Total
 
(in thousands)
Unpaid principal balance of loans sold
$
7,690

 
$
4,730

 
$
740

 
$
13,160

Charge-offs prior to sale
(2,420
)
 
(710
)
 
(150
)
 
(3,280
)
Net recorded investment in loans sold
5,270

 
4,020

 
590

 
9,880

Proceeds from sale, net of selling expenses
2,770

 
1,730

 
140

 
4,640

Total charge-off upon sale
$
(2,500
)
 
$
(2,290
)
 
$
(450
)
 
$
(5,240
)
 
 
 
 
 
 
 
 
Existing allocation for credit losses on sold loans
$
(2,870
)
 
$
(1,960
)
 
$
(300
)
 
$
(5,130
)


Impaired Loans
A loan is considered to be impaired if it is probable that all amounts will not be collected according to the contractual terms of the loan agreement. Impaired loans consist of all loans on non-accrual status and accruing troubled debt restructuring (TDRs). An allowance for loan losses is established for an impaired loan if its carrying value exceeds its estimated fair value. Impaired loans with balances greater than $1.0 million are evaluated individually for impairment. Impaired loans with balances less than $1.0 million are pooled and measured for impairment collectively. All loans evaluated for impairment under FASB ASC Section 310-10-35 are measured for losses on a quarterly basis. As of March 31, 2013 and December 31, 2012, substantially all of the Corporation’s individually evaluated impaired loans with balances greater than $1.0 million were measured based on the estimated fair value of each loan’s collateral. Collateral could be in the form of real estate in the case of impaired commercial mortgages and construction loans, or business assets, such as accounts receivable or inventory, in the case of commercial loans. Commercial loans may also be secured by real property.
As of March 31, 2013 and 2012, approximately 73% and 82%, respectively, of impaired loans with principal balances greater than $1.0 million, whose primary collateral is real estate, were measured at estimated fair value using certified third-party appraisals that had been updated within the preceding 12 months.
When updated certified appraisals are not obtained for loans evaluated for impairment under FASB ASC Section 310-10-35 that are secured by real estate, fair values are estimated based on the original appraisal values, as long as the original appraisal indicated a strong loan-to-value position and, in the opinion of the Corporation's internal loan evaluation staff, there has not been a significant deterioration in the collateral value since the original appraisal was performed. Original appraisals are typically used only when the estimated collateral value, as adjusted appropriately for the age of the appraisal, results in a current loan-to-value ratio that is lower than the Corporation's loan-to-value requirements for new loans, generally less than 70%.
The following table presents total impaired loans by class segment as of March 31, 2013 and December 31, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2013
 
December 31, 2012
 
Unpaid
Principal
Balance
 
Recorded
Investment
 
Related
Allowance
 
Unpaid
Principal
Balance
 
Recorded
Investment
 
Related
Allowance
 
(in thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
$
39,822

 
$
30,090

 
$
—

 
$
44,649

 
$
34,189

 
$
—

Commercial - secured
37,359

 
32,713

 
—

 
40,409

 
30,112

 
—

Commercial - unsecured
—

 
—

 
—

 
132

 
131

 
—

Real estate - home equity
110

 
110

 
—

 
300

 
300

 
—

Real estate - residential mortgage
1,495

 
1,495

 
—

 
486

 
486

 
—

Construction - commercial residential
29,488

 
21,752

 
—

 
40,432

 
23,548

 
—

Construction - commercial
4,370

 
4,273

 
—

 
6,294

 
5,685

 
—

 
112,644

 
90,433

 

 
132,702

 
94,451

 

With a related allowance recorded:
 
 
 

 

 

 

Real estate - commercial mortgage
65,660

 
53,485

 
23,065

 
69,173

 
55,443

 
21,612

Commercial - secured
44,282

 
32,614

 
16,633

 
52,660

 
39,114

 
17,187

Commercial - unsecured
1,420

 
1,403

 
1,051

 
2,142

 
2,083

 
1,597

Real estate - home equity
13,759

 
13,759

 
8,754

 
12,843

 
12,843

 
8,380

Real estate - residential mortgage
53,983

 
53,983

 
23,409

 
53,610

 
53,610

 
24,108

Construction - commercial residential
25,025

 
13,160

 
5,984

 
21,336

 
9,831

 
4,787

Construction - commercial
3,988

 
3,165

 
903

 
2,602

 
2,350

 
1,146

Construction - other
490

 
490

 
279

 
576

 
576

 
326

Consumer - direct
18

 
18

 
15

 
29

 
29

 
25

Leasing and other and overdrafts
45

 
45

 
29

 
10

 
10

 
7

 
208,670

 
172,122

 
80,122

 
214,981

 
175,889

 
79,175

Total
$
321,314

 
$
262,555

 
$
80,122

 
$
347,683

 
$
270,340

 
$
79,175


As of March 31, 2013 and December 31, 2012, there were $90.4 million and $94.5 million, respectively, of impaired loans that did not have a related allowance for loan loss. The estimated fair values of the collateral for these loans exceeded their carrying amount and, accordingly, no specific valuation allowance was considered to be necessary.
The following table presents average impaired loans by class segment for the three months ended March 31:
 
2013
 
2012
 
Average
Recorded
Investment
 
Interest
Income
Recognized
(1)
 
Average
Recorded
Investment
 
Interest
Income
Recognized
(1)
 
(in thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
Real estate - commercial mortgage
$
32,140

 
$
160

 
$
43,647

 
$
71

Commercial - secured
31,413

 
34

 
25,060

 
7

Commercial - unsecured
66

 
—

 
7

 
—

Real estate - home equity
205

 
1

 
350

 
—

Real estate - residential mortgage
991

 
12

 
246

 
2

Construction - commercial residential
22,650

 
63

 
30,863

 
25

Construction - commercial
4,979

 
2

 
3,221

 
2

 
92,444

 
272

 
103,394

 
107

With a related allowance recorded:
 
 
 
 
 
 
 
Real estate - commercial mortgage
54,464

 
221

 
74,889

 
122

Commercial - secured
35,864

 
43

 
50,065

 
13

Commercial - unsecured
1,743

 
2

 
2,915

 
1

Real estate - home equity
13,301

 
16

 
5,576

 
—

Real estate - residential mortgage
53,797

 
339

 
40,088

 
390

Construction - commercial residential
11,496

 
42

 
27,062

 
22

Construction - commercial
2,758

 
3

 
2,035

 
2

Construction - other
533

 
1

 
1,150

 
1

Consumer - direct
24

 
—

 
188

 
—

Leasing and other and overdrafts
28

 
—

 
44

 
—

 
174,008

 
667

 
204,012

 
551

Total
$
266,452

 
$
939

 
$
307,406

 
$
658

 
 
 
 
 
 
 
 
(1)
All impaired loans, excluding accruing TDRs, were non-accrual loans. Interest income recognized for the three months ended March 31, 2013 and 2012 represents amounts earned on accruing TDRs.

Credit Quality Indicators and Non-performing Assets

The following table presents internal credit risk ratings for commercial loans, commercial mortgages and construction loans to commercial borrowers by class segment:
 
Pass
 
Special Mention
 
Substandard or Lower
 
Total
 
March 31, 2013
 
December 31, 2012
 
March 31, 2013
 
December 31, 2012
 
March 31, 2013
 
December 31, 2012
 
March 31, 2013
 
December 31, 2012
 
(dollars in thousands)
Real estate - commercial mortgage
$
4,311,347

 
$
4,255,334

 
$
181,873

 
$
157,640

 
$
236,710

 
$
251,452

 
$
4,729,930

 
$
4,664,426

Commercial - secured
3,168,623

 
3,081,215

 
114,558

 
137,277

 
183,053

 
194,952

 
3,466,234

 
3,413,444

Commercial -unsecured
183,280

 
187,200

 
5,264

 
5,421

 
3,705

 
6,000

 
192,249

 
198,621

Total commercial - industrial, financial and agricultural
3,351,903

 
3,268,415

 
119,822

 
142,698

 
186,758

 
200,952

 
3,658,483

 
3,612,065

Construction - commercial residential
167,745

 
156,538

 
49,784

 
52,434

 
70,437

 
79,581

 
287,966

 
288,553

Construction - commercial
232,765

 
211,470

 
2,426

 
2,799

 
11,467

 
12,081

 
246,658

 
226,350

Total construction (excluding Construction - other)
400,510

 
368,008

 
52,210

 
55,233

 
81,904

 
91,662

 
534,624

 
514,903

 
$
8,063,760

 
$
7,891,757

 
$
353,905

 
$
355,571

 
$
505,372

 
$
544,066

 
$
8,923,037

 
$
8,791,394

% of Total
90.4
%
 
89.8
%
 
3.9
%
 
4.0
%
 
5.7
%
 
6.2
%
 
100.0
%
 
100.0
%
The following is a summary of the Corporation's internal risk rating categories:
•
Pass: These loans do not currently pose any identified risk and can range from the highest to average quality, depending on the degree of potential risk.
•
Special Mention: These loans constitute an undue and unwarranted credit risk, but not to a point of justifying a classification of substandard. Loans in this category are currently acceptable, but are nevertheless potentially weak.
•
Substandard or Lower: These loans are inadequately protected by current sound worth and paying capacity of the borrower. There exists a well-defined weakness or weaknesses that jeopardize the normal repayment of the debt.

The Corporation believes that internal risk ratings are the most relevant credit quality indicator for these types of loans. The migration of loans through the various internal risk rating categories is a significant component of the allowance for credit loss methodology, which bases the probability of default on this migration. Risk ratings are initially assigned to loans by loan officers and are reviewed on a regular basis by credit administration staff. The Corporation's loan review officers provide an independent assessment of risk rating accuracy. Ratings change based on the ongoing monitoring procedures performed by loan officers or credit administration staff, or if specific loan review activities identify a deterioration or an improvement in the loan. While assigning risk ratings involves judgment, the risk rating process allows management to identify riskier credits in a timely manner and to allocate resources to managing troubled accounts.

The Corporation does not assign internal risk ratings for smaller balance, homogeneous loans, such as home equity, residential mortgage, consumer, leasing, other and construction loans to individuals secured by residential real estate. For these loans, the most relevant credit quality indicator is delinquency status. The migration of loans through the delinquency status is a significant component of the allowance for credit loss methodology, which bases the probability of default on this migration.

The following table presents a summary of delinquency and non-performing status for home equity, residential mortgages and construction loans to individuals by class segment:
 
Performing
 
Delinquent (1)
 
Non-performing (2)
 
Total
 
March 31, 2013
 
December 31, 2012
 
March 31, 2013
 
December 31, 2012
 
March 31, 2013
 
December 31, 2012
 
March 31, 2013
 
December 31, 2012
 
(dollars in thousands)
Real estate - home equity
$
1,660,350

 
$
1,602,541

 
$
11,628

 
$
12,645

 
$
17,468

 
$
17,204

 
$
1,689,446

 
$
1,632,390

Real estate - residential mortgage
1,240,156

 
1,190,873

 
26,937

 
32,123

 
36,361

 
34,436

 
1,303,454

 
1,257,432

Construction - other
61,908

 
67,447

 
575

 
865

 
490

 
904

 
62,973

 
69,216

Consumer - direct
163,059

 
159,616

 
3,148

 
3,795

 
2,624

 
3,170

 
168,831

 
166,581

Consumer - indirect
138,663

 
140,868

 
1,486

 
2,270

 
158

 
145

 
140,307

 
143,283

Total consumer
301,722

 
300,484

 
4,634

 
6,065

 
2,782

 
3,315

 
309,138

 
309,864

Leasing and other and overdrafts
88,185

 
85,946

 
844

 
711

 
211

 
19

 
89,240

 
86,676

 
$
3,352,321

 
$
3,247,291

 
$
44,618

 
$
52,409

 
$
57,312

 
$
55,878

 
$
3,454,251

 
$
3,355,578

% of Total
97.0
%

96.7
%

1.3
%

1.6
%

1.7
%

1.7
%

100.0
%

100.0
%

(1)
Includes all accruing loans 31 days to 89 days past due.
(2)
Includes all accruing loans 90 days or more past due and all non-accrual loans.
The following table presents non-performing assets:
 
March 31,
2013
 
December 31,
2012
 
(in thousands)
Non-accrual loans
$
179,334

 
$
184,832

Accruing loans greater than 90 days past due
29,325

 
26,221

Total non-performing loans
208,659

 
211,053

Other real estate owned (OREO)
23,820

 
26,146

Total non-performing assets
$
232,479

 
$
237,199


The following table presents TDRs, by class segment:
 
March 31,
2013
 
December 31,
2012
 
(in thousands)
Real-estate - residential mortgage
$
33,095

 
$
32,993

Real-estate - commercial mortgage
28,421

 
34,672

Construction - commercial residential
11,125

 
10,564

Commercial - secured
8,898

 
5,624

Real estate - home equity
1,537

 
1,518

Commercial - unsecured
133

 
121

Consumer - direct
12

 
17

Total accruing TDRs
83,221

 
85,509

Non-accrual TDRs (1)
33,215

 
31,244

Total TDRs
$
116,436

 
$
116,753

 
(1)
Included within non-accrual loans in the preceding table detailing non-performing assets.

As of March 31, 2013 and December 31, 2012, there were $7.3 million and $7.4 million, respectively, of commitments to lend additional funds to borrowers whose loans were modified under TDRs.

The following table presents TDRs, by class segment, as of March 31, 2013 and 2012 that were modified during the three months ended March 31, 2013 and 2012:
 
2013
 
2012
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(dollars in thousands)
Real estate - residential mortgage
28
 
$
3,966

 
13
 
$
4,679

Real estate - commercial mortgage
5
 
2,652

 
4
 
5,669

Real estate - home equity
17
 
1,180

 
2
 
171

Construction - commercial residential
2
 
628

 
3
 
6,365

Commercial - secured
5
 
457

 
5
 
3,040

Commercial - unsecured
1
 
15

 
—
 
—

 
58
 
$
8,898

 
27
 
$
19,924


The following table presents TDRs, by class segment, as of March 31, 2013 and 2012 that were modified within the previous 12 months and had a payment default during the three months ended March 31, 2013 and 2012:
 
2013
 
2012
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(dollars in thousands)
Real estate - residential mortgage
31
 
$
5,849

 
8
 
$
1,714

Real estate - commercial mortgage
12
 
6,893

 
9
 
4,088

Real estate - home equity
20
 
1,233

 
2
 
239

Construction - commercial residential
4
 
1,308

 
3
 
7,550

Commercial - secured
6
 
708

 
2
 
115

Construction - commercial
1
 
930

 
—
 
—

 
74
 
$
16,921

 
24
 
$
13,706



The following table presents past due status and non-accrual loans by portfolio segment and class segment:
 
March 31, 2013
 
31-59
Days Past
Due
 
60-89
Days Past
Due
 
≥ 90 Days
Past Due
and
Accruing
 
Non-
accrual
 
Total ≥ 90
Days
 
Total Past
Due
 
Current
 
Total
 
(in thousands)
Real estate - commercial mortgage
$
11,023

 
$
7,514

 
$
3,651

 
$
55,154

 
$
58,805

 
$
77,342

 
$
4,652,588

 
$
4,729,930

Commercial - secured
6,366

 
4,392

 
3,082

 
56,429

 
59,511

 
70,269

 
3,395,965

 
3,466,234

Commercial - unsecured
1,231

 
768

 
332

 
1,270

 
1,602

 
3,601

 
188,648

 
192,249

Total commercial - industrial, financial and agricultural
7,597

 
5,160

 
3,414

 
57,699

 
61,113

 
73,870

 
3,584,613

 
3,658,483

Real estate - home equity
8,116

 
3,512

 
5,136

 
12,332

 
17,468

 
29,096

 
1,660,350

 
1,689,446

Real estate - residential mortgage
18,884

 
8,053

 
13,978

 
22,383

 
36,361

 
63,298

 
1,240,156

 
1,303,454

Construction - commercial residential
461

 
—

 
132

 
23,787

 
23,919

 
24,380

 
263,585

 
287,965

Construction - commercial
—

 
—

 
72

 
7,438

 
7,510

 
7,510

 
239,148

 
246,658

Construction - other
575

 
—

 
—

 
490

 
490

 
1,065

 
61,909

 
62,974

Total real estate - construction
1,036

 
—

 
204

 
31,715

 
31,919

 
32,955

 
564,642

 
597,597

Consumer - direct
2,150

 
998

 
2,618

 
6

 
2,624

 
5,772

 
163,059

 
168,831

Consumer - indirect
1,269

 
217

 
158

 
—

 
158

 
1,644

 
138,663

 
140,307

Total consumer
3,419

 
1,215

 
2,776

 
6

 
2,782

 
7,416

 
301,722

 
309,138

Leasing and other and overdrafts
714

 
130

 
166

 
45

 
211

 
1,055

 
88,185

 
89,240

 
$
50,789

 
$
25,584

 
$
29,325

 
$
179,334

 
$
208,659

 
$
285,032

 
$
12,092,256

 
$
12,377,288

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
31-59
Days Past
Due

 
60-89
Days Past
Due

 
≥ 90 Days
Past Due
and
Accruing

 
Non-
accrual

 
Total ≥ 90
Days

 
Total Past
Due

 
Current
 
Total
 
(in thousands)
Real estate - commercial mortgage
$
12,993

 
$
8,473

 
$
2,160

 
$
54,960

 
$
57,120

 
$
78,586

 
$
4,585,840

 
$
4,664,426

Commercial - secured
8,013

 
8,030

 
1,060

 
63,602

 
64,662

 
80,705

 
3,332,739

 
3,413,444

Commercial - unsecured
461

 
12

 
199

 
2,093

 
2,292

 
2,765

 
195,856

 
198,621

Total commercial - industrial, financial and agricultural
8,474

 
8,042

 
1,259

 
65,695

 
66,954

 
83,470

 
3,528,595

 
3,612,065

Real estate - home equity
9,579

 
3,066

 
5,579

 
11,625

 
17,204

 
29,849

 
1,602,541

 
1,632,390

Real estate - residential mortgage
21,827

 
10,296

 
13,333

 
21,103

 
34,436

 
66,559

 
1,190,873

 
1,257,432

Construction - commercial residential
466

 
—

 
251

 
22,815

 
23,066

 
23,532

 
265,020

 
288,552

Construction - commercial
—

 
—

 
—

 
8,035

 
8,035

 
8,035

 
218,315

 
226,350

Construction - other
865

 
—

 
328

 
576

 
904

 
1,769

 
67,447

 
69,216

Total real estate - construction
1,331

 
—

 
579

 
31,426

 
32,005

 
33,336

 
550,782

 
584,118

Consumer - direct
2,842

 
953

 
3,157

 
13

 
3,170

 
6,965

 
159,616

 
166,581

Consumer - indirect
1,926

 
344

 
145

 
—

 
145

 
2,415

 
140,868

 
143,283

Total consumer
4,768

 
1,297

 
3,302

 
13

 
3,315

 
9,380

 
300,484

 
309,864

Leasing and other and overdrafts
662

 
49

 
9

 
10

 
19

 
730

 
85,946

 
86,676

 
$
59,634

 
$
31,223

 
$
26,221

 
$
184,832

 
$
211,053

 
$
301,910

 
$
11,845,061

 
$
12,146,971