XML 58 R38.htm IDEA: XBRL DOCUMENT v3.10.0.1
Past Due Loans, Allowance For Credit Losses, Impaired Loans, and TDRs (Tables)
 12 Months Ended
Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Past Due Financing Receivables
The following table presents an aging analysis of the Company's past due loans as of December 31, 2018 and 2017. The aging is determined without regard to accrual status. The table also presents non-performing loans, consisting of non-accrual loans (the majority of which are past due) and loans 90 days or more past due and still accruing interest, as of each balance sheet date.
Aging Analysis of Past Due Loans and Non-Performing Loans by Class
(Dollar amounts in thousands)
 
 
Aging Analysis (Accruing and Non-accrual)
 
 
Non-performing Loans
 
 
Current(1)
 
30-89 Days
Past Due
 
90 Days or
More Past
Due
 
Total
Past Due
 
Total
Loans
 
 
Non-accrual(2)
 
90 Days or More Past Due, Still Accruing Interest
As of December 31, 2018
 
 

 
 

 
 

 
 

 
 

 
 
 

 
 

Commercial and industrial
 
$
4,085,164

 
$
8,832

 
$
26,297

 
$
35,129

 
$
4,120,293

 
 
$
33,507

 
$
422

Agricultural
 
428,357

 
940

 
1,631

 
2,571

 
430,928

 
 
1,564

 
101

Commercial real estate:
 
 

 
 

 
 

 
 

 
 

 
 
 

 
 

Office, retail, and industrial
 
1,803,059

 
8,209

 
9,649

 
17,858

 
1,820,917

 
 
6,510

 
4,081

Multi-family
 
759,402

 
1,487

 
3,296

 
4,783

 
764,185

 
 
3,107

 
189

Construction
 
645,774

 
3,419

 
144

 
3,563

 
649,337

 
 
144

 
—

Other commercial real estate
 
1,353,442

 
4,921

 
3,447

 
8,368

 
1,361,810

 
 
2,854

 
2,197

Total commercial real estate
 
4,561,677

 
18,036

 
16,536

 
34,572

 
4,596,249

 
 
12,615

 
6,467

Total corporate loans
 
9,075,198

 
27,808

 
44,464

 
72,272

 
9,147,470

 
 
47,686

 
6,990

Home equity
 
843,217

 
6,285

 
2,105

 
8,390

 
851,607

 
 
5,393

 
104

1-4 family mortgages
 
1,009,925

 
4,361

 
2,895

 
7,256

 
1,017,181

 
 
3,856

 
1,147

Installment
 
428,836

 
1,648

 
41

 
1,689

 
430,525

 
 
—

 
41

Total consumer loans
 
2,281,978

 
12,294

 
5,041

 
17,335

 
2,299,313

 
 
9,249

 
1,292

Total loans
 
$
11,357,176


$
40,102

 
$
49,505

 
$
89,607

 
$
11,446,783

 
 
$
56,935

 
$
8,282

As of December 31, 2017
 
 

 
 

 
 

 
 

 
 

 
 
 

 
 

Commercial and industrial
 
$
3,490,783

 
$
34,620

 
$
4,511

 
$
39,131

 
$
3,529,914

 
 
$
40,580

 
$
1,830

Agricultural
 
430,221

 
280

 
385

 
665

 
430,886

 
 
219

 
177

Commercial real estate:
 
 

 
 

 
 

 
 

 
 

 
 
 

 
 

Office, retail, and industrial
 
1,970,564

 
3,156

 
6,100

 
9,256

 
1,979,820

 
 
11,560

 
345

Multi-family
 
672,098

 
3,117

 
248

 
3,365

 
675,463

 
 
377

 
20

Construction
 
539,043

 
198

 
579

 
777

 
539,820

 
 
209

 
371

Other commercial real estate
 
1,353,263

 
2,545

 
2,707

 
5,252

 
1,358,515

 
 
3,621

 
317

Total commercial real estate
 
4,534,968

 
9,016

 
9,634

 
18,650

 
4,553,618

 
 
15,767

 
1,053

Total corporate loans
 
8,455,972

 
43,916

 
14,530

 
58,446

 
8,514,418

 
 
56,566

 
3,060

Home equity
 
820,099

 
4,102

 
2,854

 
6,956

 
827,055

 
 
5,946

 
98

1-4 family mortgages
 
770,120

 
2,145

 
2,092

 
4,237

 
774,357

 
 
4,412

 
—

Installment
 
319,178

 
2,407

 
397

 
2,804

 
321,982

 
 
—

 
397

Total consumer loans
 
1,909,397

 
8,654

 
5,343

 
13,997

 
1,923,394

 
 
10,358

 
495

Total loans
 
$
10,365,369

 
$
52,570

 
$
19,873

 
$
72,443

 
$
10,437,812

 
 
$
66,924

 
$
3,555


(1) 
PCI loans with an accretable yield are considered current.
(2) 
Includes PCI loans of $58,000 and $763,000 as of December 31, 2018 and December 31, 2017, respectively, which no longer have an accretable yield as estimates of expected future cash flows have decreased since the acquisition due to credit deterioration.
Allowance For Credit Losses On Financing Receivables
A rollforward of the allowance for credit losses by portfolio segment for the years ended December 31, 2018, 2017, and 2016 is presented in the table below.
Allowance for Credit Losses by Portfolio Segment
(Dollar amounts in thousands)
 
 
Commercial, Industrial, and Agricultural
 
Office, Retail, and Industrial
 
Multi-family
 
Construction
 
Other Commercial Real Estate
 
Consumer
 
Reserve for Unfunded Commitments
 
Total Allowance for Credit Losses
Year Ended December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
55,791

 
$
10,996

 
$
2,534

 
$
3,481

 
$
6,381

 
$
16,546

 
$
1,000

 
$
96,729

Charge-offs
 
(36,477
)
 
(2,286
)
 
(5
)
 
(1
)
 
(410
)
 
(8,806
)
 
—

 
(47,985
)
Recoveries
 
2,946

 
334

 
3

 
125

 
1,532

 
1,681

 
—

 
6,621

Net charge-offs
 
(33,531
)
 
(1,952
)
 
(2
)
 
124

 
1,122

 
(7,125
)
 
—

 
(41,364
)
Provision for loan
losses and other
 
41,016

 
(1,144
)
 
(68
)
 
(1,432
)
 
(2,569
)
 
12,051

 
200

 
48,054

Ending Balance
 
$
63,276

 
$
7,900

 
$
2,464

 
$
2,173

 
$
4,934

 
$
21,472

 
$
1,200

 
$
103,419

Year Ended December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
40,709

 
$
17,595

 
$
3,261

 
$
3,444

 
$
7,739

 
$
13,335

 
$
1,000

 
$
87,083

Charge-offs
 
(22,885
)
 
(190
)
 
—

 
(38
)
 
(755
)
 
(6,955
)
 
—

 
(30,823
)
Recoveries
 
4,150

 
2,935

 
39

 
270

 
244

 
1,541

 
—

 
9,179

Net charge-offs
 
(18,735
)
 
2,745

 
39

 
232

 
(511
)
 
(5,414
)
 
—

 
(21,644
)
Provision for loan
  losses and other
 
33,817

 
(9,344
)
 
(766
)
 
(195
)
 
(847
)
 
8,625

 
—

 
31,290

Ending balance
 
$
55,791

 
$
10,996

 
$
2,534

 
$
3,481

 
$
6,381

 
$
16,546

 
$
1,000

 
$
96,729

Year Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
37,074

 
$
13,124

 
$
2,469

 
$
1,440

 
$
6,109

 
$
13,414

 
$
1,225

 
$
74,855

Charge-offs
 
(9,982
)
 
(4,707
)
 
(307
)
 
(134
)
 
(2,932
)
 
(5,231
)
 
—

 
(23,293
)
Recoveries
 
2,451

 
337

 
97

 
56

 
524

 
1,298

 
—

 
4,763

Net charge-offs
 
(7,531
)
 
(4,370
)
 
(210
)
 
(78
)
 
(2,408
)
 
(3,933
)
 
—

 
(18,530
)
Provision for loan
losses and other
 
11,166

 
8,841

 
1,002

 
2,082

 
4,038

 
3,854

 
(225
)
 
30,758

Ending balance
 
$
40,709

 
$
17,595

 
$
3,261

 
$
3,444

 
$
7,739

 
$
13,335

 
$
1,000

 
$
87,083
Schedule of Loans and The Related Allowance for Credit Losses
The table below provides a breakdown of loans and the related allowance for credit losses by portfolio segment as of December 31, 2018 and 2017.
Loans and Related Allowance for Credit Losses by Portfolio Segment
(Dollar amounts in thousands)
 
 
Loans
 
Allowance for Credit Losses
 
 
Individually
Evaluated for
Impairment
 
Collectively
Evaluated for
Impairment
 
PCI
 
Total
 
Individually
Evaluated for
Impairment
 
Collectively
Evaluated for
Impairment
 
PCI
 
Total
As of December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial, and
  agricultural
 
$
32,415

 
$
4,514,349

 
$
4,457

 
$
4,551,221

 
$
3,961

 
$
58,947

 
$
368

 
$
63,276

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Office, retail, and industrial
 
5,057

 
1,799,304

 
16,556

 
1,820,917

 
748

 
5,984

 
1,168

 
7,900

Multi-family
 
3,492

 
747,030

 
13,663

 
764,185

 
—

 
2,154

 
310

 
2,464

Construction
 
—

 
644,499

 
4,838

 
649,337

 
—

 
2,019

 
154

 
2,173

Other commercial real estate
 
1,545

 
1,305,444

 
54,821

 
1,361,810

 
—

 
4,180

 
754

 
4,934

Total commercial real estate
 
10,094

 
4,496,277

 
89,878

 
4,596,249

 
748

 
14,337

 
2,386

 
17,471

Total corporate loans
 
42,509

 
9,010,626

 
94,335

 
9,147,470

 
4,709

 
73,284

 
2,754

 
80,747

Consumer
 
—

 
2,279,780

 
19,533

 
2,299,313

 
—

 
20,094

 
1,378

 
21,472

Reserve for unfunded
commitments
 
—

 
—

 
—

 
—

 
—

 
1,200

 
—

 
1,200

Total loans
 
$
42,509

 
$
11,290,406

 
$
113,868

 
$
11,446,783

 
$
4,709

 
$
94,578

 
$
4,132

 
$
103,419

As of December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial, and
  agricultural
 
$
38,718

 
$
3,909,380

 
$
12,702

 
$
3,960,800

 
$
10,074

 
$
45,293

 
$
424

 
$
55,791

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Office, retail, and industrial
 
10,810

 
1,954,435

 
14,575

 
1,979,820

 
—

 
9,333

 
1,663

 
10,996

Multi-family
 
621

 
660,771

 
14,071

 
675,463

 
—

 
2,436

 
98

 
2,534

Construction
 
—

 
530,977

 
8,843

 
539,820

 
—

 
3,331

 
150

 
3,481

Other commercial real estate
 
1,468

 
1,291,723

 
65,324

 
1,358,515

 
—

 
5,415

 
966

 
6,381

Total commercial real estate
 
12,899

 
4,437,906

 
102,813

 
4,553,618

 
—

 
20,515

 
2,877

 
23,392

Total corporate loans
 
51,617

 
8,347,286

 
115,515

 
8,514,418

 
10,074

 
65,808

 
3,301

 
79,183

Consumer
 
—

 
1,901,456

 
21,938

 
1,923,394

 
—

 
15,533

 
1,013

 
16,546

Reserve for unfunded
commitments
 
—

 
—

 
—

 
—

 
—

 
1,000

 
—

 
1,000

Total loans
 
$
51,617

 
$
10,248,742

 
$
137,453

 
$
10,437,812

 
$
10,074

 
$
82,341

 
$
4,314

 
$
96,729
Impaired Financing Receivables
The following table presents loans individually evaluated for impairment by class of loan as of December 31, 2018 and 2017. PCI loans are excluded from this disclosure.
Impaired Loans Individually Evaluated by Class
(Dollar amounts in thousands)
 
 
As of December 31,
 
 
2018
 
 
2017
 
 
Recorded Investment In
 
 
 
 
 
 
Recorded Investment In
 
 
 
 
 
 
Loans with
 No Specific
Reserve
 
Loans
 with
a Specific
Reserve
 
Unpaid
Principal
Balance
 
Specific
Reserve
 
 
Loans with
No
 Specific
Reserve
 
Loans
 with
a Specific
Reserve
 
Unpaid
Principal
Balance
 
Specific
Reserve
Commercial and industrial
 
$
7,550

 
$
23,349

 
$
49,102

 
$
3,960

 
 
$
4,234

 
$
34,484

 
$
53,192

 
$
10,074

Agricultural
 
1,318

 
198

 
3,997

 
1

 
 
—

 
—

 
—

 
—

Commercial real estate:
 
 

 
 

 
 

 
 

 
 
 

 
 

 
 

 
 

Office, retail, and industrial
 
1,861

 
3,196

 
6,141

 
748

 
 
7,154

 
3,656

 
14,246

 
—

Multi-family
 
3,492

 
—

 
3,492

 
—

 
 
621

 
—

 
621

 
—

Construction
 
—

 
—

 
—

 
—

 
 
—

 
—

 
—

 
—

Other commercial real estate
 
1,545

 
—

 
1,612

 
—

 
 
1,468

 
—

 
1,566

 
—

Total commercial real estate
 
6,898

 
3,196

 
11,245

 
748

 
 
9,243

 
3,656

 
16,433

 
—

Total impaired loans
individually evaluated
  for impairment
 
$
15,766

 
$
26,743

 
$
64,344

 
$
4,709

 
 
$
13,477

 
$
38,140

 
$
69,625

 
$
10,074

The following table presents the average recorded investment and interest income recognized on impaired loans by class for the years ended December 31, 2018, 2017, and 2016. PCI loans are excluded from this disclosure.
Average Recorded Investment and Interest Income Recognized on Impaired Loans by Class
(Dollar amounts in thousands)
 
 
Years Ended December 31,
 
 
2018
 
2017
 
2016
 
 
Average
Recorded
Investment
 
Interest
Income
Recognized(1)
 
Average
Recorded
Investment
 
Interest
Income
Recognized(1)
 
Average
Recorded
Investment
 
Interest
Income
Recognized(1)
Commercial and industrial
 
$
33,732

 
$
225

 
$
33,956

 
$
1,059

 
$
9,178

 
$
104

Agricultural
 
2,026

 
32

 
279

 
101

 
—

 
—

Commercial real estate:
 
 

 
 

 
 

 
 

 
 

 
 

Office, retail, and industrial
 
8,105

 
892

 
13,106

 
325

 
12,867

 
291

Multi-family
 
2,404

 
66

 
441

 
28

 
479

 
11

Construction
 
—

 
—

 
7

 
136

 
63

 
—

Other commercial real estate
 
2,179

 
406

 
1,615

 
41

 
2,809

 
86

Total commercial real estate
 
12,688

 
1,364

 
15,170

 
530

 
16,218

 
388

Total impaired loans
 
$
48,445

 
$
1,621

 
$
49,404

 
$
1,690

 
$
25,396

 
$
492

(1) 
Recorded using the cash basis of accounting.
Financing Receivable Credit Quality Indicators
The following tables present credit quality indicators by class for corporate and consumer loans as of December 31, 2018 and 2017.
Corporate Credit Quality Indicators by Class
(Dollar amounts in thousands)
 
 
Pass
 
Special
Mention(1)(4)
 
Substandard(2)(4)
 
Non-accrual(3)
 
Total
As of December 31, 2018
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
3,952,066

 
$
74,878

 
$
59,842

 
$
33,507

 
$
4,120,293

Agricultural
 
407,542

 
10,070

 
11,752

 
1,564

 
430,928

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
Office, retail, and industrial
 
1,735,426

 
35,853

 
43,128

 
6,510

 
1,820,917

Multi-family
 
745,131

 
9,273

 
6,674

 
3,107

 
764,185

Construction
 
624,446

 
16,370

 
8,377

 
144

 
649,337

Other commercial real estate
 
1,294,128

 
47,736

 
17,092

 
2,854

 
1,361,810

Total commercial real estate
 
4,399,131

 
109,232

 
75,271

 
12,615

 
4,596,249

Total corporate loans
 
$
8,758,739

 
$
194,180

 
$
146,865

 
$
47,686

 
$
9,147,470

As of December 31, 2017
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
3,388,133

 
$
70,863

 
$
30,338

 
$
40,580

 
$
3,529,914

Agricultural
 
413,946

 
10,989

 
5,732

 
219

 
430,886

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
Office, retail, and industrial
 
1,903,737

 
25,546

 
38,977

 
11,560

 
1,979,820

Multi-family
 
665,496

 
7,395

 
2,195

 
377

 
675,463

Construction
 
521,911

 
10,184

 
7,516

 
209

 
539,820

Other commercial real estate
 
1,304,337

 
29,624

 
20,933

 
3,621

 
1,358,515

Total commercial real estate
 
4,395,481

 
72,749

 
69,621

 
15,767

 
4,553,618

Total corporate loans
 
$
8,197,560

 
$
154,601

 
$
105,691

 
$
56,566

 
$
8,514,418

(1) 
Loans categorized as special mention exhibit potential weaknesses that require the close attention of management since these potential weaknesses may result in the deterioration of repayment prospects in the future.
(2) 
Loans categorized as substandard exhibit a well-defined weakness that may jeopardize the liquidation of the debt. These loans continue to accrue interest because they are well-secured and collection of principal and interest is expected within a reasonable time.
(3) 
Loans categorized as non-accrual exhibit a well-defined weakness that may jeopardize the liquidation of the debt or result in a loss if the deficiencies are not corrected.
(4) 
Total special mention and substandard loans includes accruing TDRs of $630,000 as of December 31, 2018 and $657,000 as of December 31, 2017.
Consumer Credit Quality Indicators by Class
(Dollar amounts in thousands)
 
 
Performing
 
Non-accrual
 
Total
As of December 31, 2018
 
 
 
 
 
 
Home equity
 
$
846,214

 
$
5,393

 
$
851,607

1-4 family mortgages
 
1,013,325

 
3,856

 
1,017,181

Installment
 
430,525

 
—

 
430,525

Total consumer loans
 
$
2,290,064

 
$
9,249

 
$
2,299,313

As of December 31, 2017
 
 
 
 
 
 
Home equity
 
$
821,109

 
$
5,946

 
$
827,055

1-4 family mortgages
 
769,945

 
4,412

 
774,357

Installment
 
321,982

 
—

 
321,982

Total consumer loans
 
$
1,913,036

 
$
10,358

 
$
1,923,394
Troubled Debt Restructurings on Financing Receivables
The table below presents TDRs by class as of December 31, 2018 and 2017. See Note 1, "Summary of Significant Accounting Policies," for the accounting policy for TDRs.
TDRs by Class
(Dollar amounts in thousands)
 
 
As of December 31,
 
 
2018
 
2017
 
 
Accruing
 
Non-accrual(1)
 
Total
 
Accruing
 
Non-accrual(1)
 
Total
Commercial and industrial
 
$
246

 
$
5,994

 
$
6,240

 
$
264

 
$
18,959

 
$
19,223

Agricultural
 
—

 
—

 
—

 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 
Office, retail, and industrial
 
—

 
—

 
—

 
—

 
4,236

 
4,236

Multi-family
 
557

 
—

 
557

 
574

 
149

 
723

Construction
 
—

 
—

 
—

 
—

 
—

 
—

Other commercial real estate
 
181

 
—

 
181

 
192

 
—

 
192

Total commercial real estate
 
738

 
—

 
738

 
766


4,385

 
5,151

Total corporate loans
 
984

 
5,994

 
6,978

 
1,030

 
23,344

 
24,374

Home equity
 
113

 
327

 
440

 
86

 
738

 
824

1-4 family mortgages
 
769

 
291

 
1,060

 
680

 
451

 
1,131

Installment
 
—

 
—

 
—

 
—

 
—

 
—

Total consumer loans
 
882

 
618

 
1,500

 
766

 
1,189

 
1,955

Total loans
 
$
1,866

 
$
6,612

 
$
8,478

 
$
1,796

 
$
24,533

 
$
26,329

(1) 
These TDRs are included in non-accrual loans in the preceding tables.
A rollforward of the carrying value of TDRs for the years ended December 31, 2018, 2017, and 2016 is presented in the following table.
TDR Rollforward
(Dollar amounts in thousands)
 
 
Years Ended December 31,
 
 
2018
 
2017
 
2016
Accruing
 
 
 
 
 
 
Beginning balance
 
$
1,796

 
$
2,291

 
$
2,743

Additions
 
—

 
15,819

 
—

Net payments
 
(50
)
 
(1,923
)
 
(120
)
Returned to performing status
 
—

 
—

 
—

Net transfers from (to) non-accrual
 
120

 
(14,391
)
 
(332
)
Ending balance
 
1,866

 
1,796

 
2,291

Non-accrual
 
 
 
 
 
 
Beginning balance
 
24,533

 
6,297

 
2,324

Additions
 
527

 
14,570

 
6,205

Net payments
 
(14,403
)
 
(4,380
)
 
(1,072
)
Charge-offs
 
(3,925
)
 
(6,345
)
 
(1,492
)
Transfers to OREO
 
—

 
—

 
—

Loans sold
 
—

 
—

 
—

Net transfers (to) from accruing
 
(120
)
 
14,391

 
332

Ending balance
 
6,612

 
24,533

 
6,297

Total TDRs
 
$
8,478

 
$
26,329

 
$
8,588

The following table presents a summary of loans that were restructured during the years ended December 31, 2017, and 2016.
Loans Restructured During the Period
(Dollar amounts in thousands)
 
 
Number
of
Loans
 
Pre-Modification
Recorded
Investment
 
Funds
Disbursed
 
Interest
and Escrow
Capitalized
 
Charge-offs
 
Post-Modification
Recorded
Investment
Year Ended December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
12

 
$
26,733

 
$
9,035

 
$
—

 
$
6,232

 
$
29,536

Office, retail, and industrial
 
2

 
3,656

 
—

 
—

 
—

 
3,656

Total loans restructured during the period
 
14

 
$
30,389

 
$
9,035

 
$
—

 
$
6,232

 
$
33,192

Year Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
Office, retail, and industrial
 
1

 
$
5,460

 
$
—

 
$
—

 
$
1,083

 
$
4,377

Other commercial real estate
 
1

 
745

 
—

 
—

 
—

 
745

Total loans restructured during the period
 
2

 
$
6,205

 
$
—

 
$
—

 
$
1,083

 
$
5,122