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Loans and Allowance (Tables)
 3 Months Ended
Mar. 31, 2014
Receivables [Abstract]  
Composition of Loan Portfolio by Loan Class
The following table shows the composition of the Corporation’s loan portfolio by loan class for the periods indicated:
 

March 31, 2014

December 31, 2013
Commercial and industrial loans
$
787,390


$
761,705

Agricultural production financing and other loans to farmers
99,226


114,348

Real estate loans:
 

 
Construction
155,117


177,082

Commercial and farmland
1,606,735


1,611,809

Residential
626,202


616,385

Home Equity
256,790


255,223

Individuals' loans for household and other personal expenditures
61,742


69,783

Lease financing receivables, net of unearned income
1,378


1,545

Other loans
22,047


24,529

 Loans
$
3,616,627


$
3,632,409

Allowance for loan losses
(69,583
)

(67,870
)
Net Loans
$
3,547,044


$
3,564,539
Changes in Allowance for Loan Losses
The following tables summarize changes in the allowance for loan losses by loan segment for the three months ended March 31, 2014, and March 31, 2013:
 
 
Three Months Ended March 31, 2014
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance for loan losses:
 

 

 

 

 

 
Balances, January 1
$
27,176


$
23,102


$
2,515


$
15,077




$
67,870

Provision for losses
2,387


(1,257
)

(12
)

(1,098
)

$
(20
)



Recoveries on loans
2,050


790


136


604


20


3,600

Loans charged off
(706
)

(277
)

(229
)

(675
)



(1,887
)
Balances, March 31, 2014
$
30,907


$
22,358


$
2,410


$
13,908




$
69,583




Three Months Ended March 31, 2013
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance for loan losses:
 

 

 

 

 

 
Balances, January 1
$
25,913


$
26,703


$
2,593


$
14,157





$
69,366

Provision for losses
358


(755
)

73


2,406


$
20


2,102

Recoveries on loans
1,873


1,376


209


288





3,746

Loans charged off
(2,773
)

(2,346
)

(186
)

(1,372
)



(6,677
)
Balances, March 31, 2013
$
25,371


$
24,978


$
2,689


$
15,479


$
20


$
68,537
Allowance for Credit Losses and Loan Portfolio by Loan Segment
The following tables show the Corporation’s allowance for credit losses and loan portfolio by loan segment as of the periods indicated:
 
 
March 31, 2014
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance Balances:
 

 

 

 

 

 
Individually evaluated for impairment
$
556


$
795







 

$
1,351

Collectively evaluated for impairment
30,004


21,467


$
2,410


$
13,908




67,789

Loans Acquired with Deteriorated Credit Quality
347


96










443

Total Allowance for Loan Losses
$
30,907


$
22,358


$
2,410


$
13,908




$
69,583

Loan Balances:
 

 

 

 

 

 
Individually evaluated for impairment
$
10,422


$
28,864


 

$
2,834


 

$
42,120

Collectively evaluated for impairment
890,590


1,665,466


$
61,742


878,473


$
1,378


3,497,649

Loans Acquired with Deteriorated Credit Quality
7,651


67,522





1,685





76,858

Loans
$
908,663


$
1,761,852


$
61,742


$
882,992


$
1,378


$
3,616,627

 
 
 
December 31, 2013
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance Balances:
 

 

 

 

 

 
Individually evaluated for impairment
$
585


$
763


 

$
6


 

$
1,354

Collectively evaluated for impairment
26,493


22,208


$
2,515


15,071


 

66,287

Loans Acquired with Deteriorated Credit Quality
98


131










229

Total Allowance for Loan Losses
$
27,176


$
23,102


$
2,515


$
15,077




$
67,870

Loan Balances:
 

 

 

 

 

 
Individually evaluated for impairment
$
10,240


$
29,007


 

$
2,820


 

$
42,067

Collectively evaluated for impairment
882,794


1,690,285


$
69,783


867,094


$
1,545


3,511,501

Loans Acquired with Deteriorated Credit Quality
7,548


69,599





1,694





78,841

Loans
$
900,582


$
1,788,891


$
69,783


$
871,608


$
1,545


$
3,632,409
Summary of Non-Accrual Loans by Loan class
The following table summarizes the Corporation’s non-accrual loans by loan class as of the periods indicated:
 

March 31, 2014

December 31, 2013
Commercial and industrial loans
$
8,558


$
9,283

Agriculture production financing and other loans to farmers
28


30

Real estate Loans:
 

 
Construction
3,072


4,978

Commercial and farmland
28,598


28,095

Residential
12,938


12,068

Home Equity
2,351


1,667

Individuals' loans for household and other personal expenditures
141


117

Lease financing receivables, net of unearned income




Other Loans



164

Total
$
55,686


$
56,402
Composition of Impaired Loans by Loan Class
The following tables show the composition of the Corporation’s commercial impaired loans by loan class for the periods indicated:
 
 
March 31, 2014
 
Unpaid
Principal
Balance

Recorded
Investment

Related
Allowance
Impaired loans with no related allowance:
 

 


Commercial and industrial loans
$
35,562


$
16,302




Agriculture production financing and other loans to farmers
31


28




Real estate Loans:
 

 


Construction
15,184


10,327




Commercial and farmland
115,745


80,957




Residential
6,196


3,948




Home equity
3,332


142




Other loans
40


2




Total
$
176,090


$
111,706




Impaired loans with related allowance:
 

 


Commercial and industrial loans
$
1,789


$
1,741


$
902

Real estate Loans:
 

 

 
Construction








Commercial and farmland
7,364


4,385


892

Residential








Total
$
9,153


$
6,126


$
1,794

Total Impaired Loans
$
185,243


$
117,832


$
1,794



 
December 31, 2013
 
Unpaid
Principal
Balance
 
Recorded
Investment
 
Related
Allowance
Impaired loans with no related allowance:
 
 
 
 
 
Commercial and industrial loans
$
35,066

 
$
16,371

 
 
Agricultural production finance & other loans to farmers
32

 
30

 
 
Real estate Loans:
 
 
 
 
 
Construction
16,109

 
10,625

 
 
Commercial and farmland
128,073

 
83,033

 
 
Residential
6,746

 
3,910

 
 
Home equity
3,299

 
112

 
 
Other loans
454

 
172

 
 
Total
$
189,779

 
$
114,253

 
 
Impaired loans with related allowance:
 
 
 
 
 
Commercial and industrial loans
$
1,390

 
$
1,216

 
$
683

Real estate Loans:
 
 
 
 
 
Construction
 
 
 
 
 
Commercial and farmland
4,657

 
4,215

 
894

Residential
74

 
71

 
6

Total
$
6,121

 
$
5,502

 
$
1,583

Total Impaired Loans
$
195,900

 
$
119,755

 
$
1,583


 
Three Months Ended March 31, 2014
 
Average
Recorded Investment

Interest
Income Recognized
Impaired loans with no related allowance:
 

 
Commercial and industrial loans
$
16,377


$
21

Agriculture production financing and other loans to farmers
29



Real estate Loans:
 

 
Construction
10,440


28

Commercial and farmland
81,617


243

Residential
4,146


8

Home equity
144




Other loans
6


 
Total
$
112,759


$
300

Impaired loans with related allowance:
 

 
Commercial and industrial loans
$
1,752


$
3

Real estate Loans:
 

 
Commercial and farmland
4,398


1

Total
$
6,150


$
4

Total Impaired Loans
$
118,909


$
304



 
Three Months Ended March 31, 2013
 
Average
Recorded Investment

Interest
Income Recognized
Impaired loans with no related allowance:
 

 
Commercial and industrial loans
$
8,043


$
44

Agriculture production financing and other loans to farmers
86



Real estate Loans:



Construction
3,936


19

Commercial and farmland
39,228


382

Residential
4,737


22

Home equity
923


3

Other loans
10



Total
$
56,963


$
470

Impaired loans with related allowance:



Commercial and industrial loans
$
5,124


$
3

Real estate Loans:



Construction
915



Commercial and farmland
5,428




Residential
2,390



Total
$
13,857


$
3

Total Impaired Loans
$
70,820


$
473
Credit Quality of Loan Portfolio by Loan Class
The following tables summarize the credit quality of the Corporation’s loan portfolio, by loan class as for the periods indicated.  Consumer non-performing loans include accruing consumer loans 90 plus days delinquent and consumer non-accrual loans.  The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified date. Loans that evidenced deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected are included in the applicable categories below.
 
 
March 31, 2014
 
Commercial
Pass

Commercial
Special
Mention

Commercial Substandard

Commercial
Doubtful

Commercial Loss

Consumer Performing

Consumer
Non-Performing

Total
Commercial and industrial loans
$
724,556


$
10,148


$
52,172


$
514




 

 

$
787,390

Agriculture production financing and other loans to farmers
86,358


376


12,492


 



 

 

99,226

Real estate Loans:
 

 

 

 



 

 

 
Construction
142,676


1,123


11,116


 



 

$
202


155,117

Commercial and farmland
1,466,354


50,952


89,188







 

241


1,606,735

Residential
147,361


2,229


9,444


136




$
455,612


11,420


626,202

Home equity
6,011


332


980


 



247,169


2,298


256,790

Individuals' loans for household and other personal expenditures
 

 

 

 



61,598


144


61,742

Lease financing receivables, net of unearned income
1,256


 

122


 









1,378

Other loans
22,024




23


 



 

 

22,047

Loans
$
2,596,596


$
65,160


$
175,537


$
650




$
764,379


$
14,305


$
3,616,627


 
 
December 31, 2013
 
Commercial
Pass

Commercial
Special
Mention

Commercial Substandard

Commercial
Doubtful

Commercial Loss

Consumer Performing

Consumer
Non-Performing

Total
Commercial and industrial loans
$
708,835


$
11,332


$
41,013


$
525




 

 

$
761,705

Agriculture production financing and other loans to farmers
114,318





30


 



 

 

114,348

Real estate Loans:
 

 

 

 



 

 

 
Construction
162,976


1,132


12,029


 



 


$
945


177,082

Commercial and farmland
1,473,714


57,676


80,184







 


235


1,611,809

Residential
143,657


2,232


11,494


136




$
448,494


10,372


616,385

Home equity
6,194


35


1,184


 



246,101


1,709


255,223

Individuals' loans for household and other personal expenditures
 

 

 

 



69,666


117


69,783

Lease financing receivables, net of unearned income
1,420


 

125


 








1,545

Other loans
24,334





195


 




 

 

24,529

Loans
$
2,635,448


$
72,407


$
146,254


$
661




$
764,261


$
13,378


$
3,632,409
Past Due Aging of Loan Portfolio by Loan Class
The following table shows a past due aging of the Corporation’s loan portfolio, by loan class as of March 31, 2014, and December 31, 2013:

 
March 31, 2014
 
Current

30-59 Days
Past Due

60-89 Days
Past Due

Loans > 90 Days
And Accruing

Non-Accrual

Total Past Due
& Non-Accrual

Total
Commercial and industrial loans
$
776,473


$
1,933


$
426





$
8,558


$
10,917


$
787,390

Agriculture production financing and other loans to farmers
99,198











28


28


99,226

Real estate Loans:
 

 

 

 

 

 

 
Construction
151,645


400






3,072


3,472


155,117

Commercial and farmland
1,561,328


10,941


4,700


$
1,168


28,598


45,407


1,606,735

Residential
608,917


3,236


663


448


12,938


17,285


626,202

Home equity
252,734


932


684


89


2,351


4,056


256,790

Individuals' loans for household and other personal expenditures
61,216


340


41


4


141


526


61,742

Lease financing receivables, net of unearned income
1,378




 









1,378

Other loans
22,046


1


 

 




1


22,047

Loans
$
3,534,935


$
17,783


$
6,514


$
1,709


$
55,686


$
81,692


$
3,616,627

 

 
December 31, 2013
 
Current

30-59 Days
Past Due

60-89 Days
Past Due

Loans > 90 Days
And Accruing

Non-Accrual

Total Past Due
& Non-Accrual

Total
Commercial and industrial loans
$
749,020


$
2,628


$
774





$
9,283


$
12,685


$
761,705

Agriculture production financing and other loans to farmers
114,305


13






30


43


114,348

Real estate Loans:
 

 

 

 

 

 

 
Construction
171,046


1,058


 


 


4,978


6,036


177,082

Commercial and farmland
1,573,403


3,807


5,801


$
703


28,095


38,406


1,611,809

Residential
595,192


7,156


1,475


494


12,068


21,193


616,385

Home equity
251,188


1,652


563


153


1,667


4,035


255,223

Individuals' loans for household and other personal expenditures
69,061


550


55


 


117


722


69,783

Lease financing receivables, net of unearned income
1,545


 

 

 





1,545

Other loans
24,365


 

 

 

164


164


24,529

Loans
$
3,549,125


$
16,864


$
8,668


$
1,350


$
56,402


$
83,284


$
3,632,409
Summary of Troubled Debt Restructurings
The following tables summarize troubled debt restructurings that occurred during the periods indicated:
 

Three Months Ended March 31, 2014

Pre-Modification
Recorded
Balance

Post-Modification
Recorded
Balance

Number
of
Loans
Real estate Loans:
 

 

 
Residential
$
131


$
134


3

Individuals' loans for household and other personal expenditures
15


15


1

Total
$
146


$
149


4

 
 

Three Months Ended March 31, 2013

Pre-Modification
Recorded
Balance

Post-Modification
Recorded
Balance

Number
of
Loans
Commercial and industrial loans
$
96


$
96


3

Real estate Loans:
 

 

 
Commercial and farmland
511


431


2

Residential
37


38


1

Total
$
644


$
565


6
Summary of Troubled Debt Restructurings and Subsequent Defaults
The following tables show the recorded investment of troubled debt restructurings, by modification type, that occurred during the periods indicated:
 

Three Months Ended March 31, 2014

Term
Modification

Rate
Modification

Combination

Total
Modification
Real estate Loans:
 

 

 

 
Residential


$
134





$
134

Individuals' loans for household and other personal expenditures
 




$
15


15

Total


$
134


$
15


$
149




Three Months Ended March 31, 2013

Term
Modification

Rate
Modification

Combination

Total
Modification
Commercial and industrial loans
$
31




$
69


$
100

Real estate Loans:
 

 

 

 
Commercial and farmland





415


415

Residential





37


37

Total
$
31




$
521


$
552
Commercial Non-Impaired Loans Included in ASC 450 Loss Migration Analysis
The following tables summarize troubled debt restructures that occurred during the twelve months ended March 31, 2014, and March 31, 2013, that subsequently defaulted during the period indicated and remained in default at period end. For purposes of this schedule, a loan is considered in default if it is 30 or more days past due.
 

Three Months Ended March 31, 2014

Number of
Loans

Recorded
Balance
Commercial and industrial loans
1


$
146

Real estate Loans:
 

 
Residential
1


57

Total
2


$
203

 
 

Three Months Ended March 31, 2013

Number of
Loans

Recorded
Balance
Commercial and industrial loans
1

$
5

Real estate Loans:
 

 
Commercial and farmland
1

230

Residential
1

47

Total
3

$
282