XML 25 R13.htm IDEA: XBRL DOCUMENT v3.19.2
Loans
 6 Months Ended
Jun. 30, 2019
Loans and Leases Receivable Disclosure [Abstract]  
Loans LOANS
Loans Held-for-Investment
The following table presents the Company's loans held-for-investment by class.
Loan Portfolio
(Dollar amounts in thousands)
 
 
As of
 
 
June 30,
2019
 
December 31,
2018
Commercial and industrial
 
$
4,524,401

 
$
4,120,293

Agricultural
 
430,589

 
430,928

Commercial real estate:
 
 
 
 
Office, retail, and industrial
 
1,936,577

 
1,820,917

Multi-family
 
787,155

 
764,185

Construction
 
654,607

 
649,337

Other commercial real estate
 
1,447,673

 
1,361,810

Total commercial real estate
 
4,826,012

 
4,596,249

Total corporate loans
 
9,781,002

 
9,147,470

Home equity
 
874,686

 
851,607

1-4 family mortgages
 
1,391,814

 
1,017,181

Installment
 
472,102

 
430,525

Total consumer loans
 
2,738,602

 
2,299,313

Total loans
 
$
12,519,604

 
$
11,446,783

Deferred loan fees included in total loans
 
$
7,382

 
$
6,715

Overdrawn demand deposits included in total loans
 
8,875

 
8,583


The Company primarily lends to community-based and mid-sized businesses, commercial real estate customers, and consumers in its markets. Within these areas, the Company diversifies its loan portfolio by loan type, industry, and borrower.
It is the Company's policy to review each prospective credit to determine the appropriateness and the adequacy of security or collateral prior to making a loan. In the event of borrower default, the Company seeks recovery in compliance with state lending laws, the Company's lending standards, and credit monitoring and remediation procedures. A discussion of risk characteristics relevant to each portfolio segment is presented in Note 5, "Loans" to the Consolidated Financial Statements in the Company's 2018 10-K.
Loan Sales
The following table presents loan sales for the quarters and six months ended June 30, 2019 and 2018.
Loan Sales
(Dollar amounts in thousands)
 
 
Quarters Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
 
2019
 
2018
 
2019
 
2018
Corporate loan sales
 
 
 
 
 
 
 
 
Proceeds from sales
 
$
2,178

 
$
3,991

 
$
5,376

 
$
12,312

Less book value of loans sold
 
2,132

 
3,861

 
5,248

 
11,984

Net gains on corporate loan sales(1)
 
46

 
130

 
128

 
328

1-4 family mortgage loan sales
 
 
 
 
 
 
 
 
Proceeds from sales
 
$
95,408

 
$
65,715

 
$
154,191

 
$
130,900

Less book value of loans sold
 
93,473

 
64,336

 
150,928

 
128,094

Net gains on 1-4 family mortgage loan sales(2)
 
1,935

 
1,379

 
3,263

 
2,806

Total net gains on loan sales
 
$
1,981

 
$
1,509

 
$
3,391

 
$
3,134


(1) 
Net gains on corporate loan sales are included in other service charges, commissions, and fees in the Condensed Consolidated Statements of Income.
(2) 
Net gains on 1-4 family mortgage loan sales are included in mortgage banking income in the Condensed Consolidated Statements of Income.
The Company retained servicing responsibilities for a portion of the 1-4 family mortgage loans sold and collects servicing fees equal to a percentage of the outstanding principal balance. For additional disclosure related to the Company's obligations resulting from the sale of certain 1-4 family mortgage loans, see Note 12, "Commitments, Guarantees, and Contingent Liabilities."