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Loans and Allowance (Tables)
 9 Months Ended
Sep. 30, 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:
 

September 30, 2014

December 31, 2013
Commercial and industrial loans
$
900,970


$
761,705

Agricultural production financing and other loans to farmers
99,649


114,348

Real estate loans:
 

 
Construction
178,213


177,082

Commercial and farmland
1,603,698


1,611,809

Residential
625,609


616,385

Home Equity
269,952


255,223

Individuals' loans for household and other personal expenditures
66,832


69,783

Lease financing receivables, net of unearned income
1,208


1,545

Other loans
26,336


24,529

 Loans
$
3,772,467


$
3,632,409

Allowance for loan losses
(65,596
)

(67,870
)
Net Loans
$
3,706,871


$
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 and nine months ended September 30, 2014, and September 30, 2013:
 
 
Three Months Ended September 30, 2014
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance for loan losses:
 

 

 

 

 

 
Balances, July 1
$
28,614


$
22,582


$
2,243


$
14,928




$
68,367

Provision for losses
1,385


528


113


(424
)

$
(2
)

1,600

Recoveries on loans
1,987


1,215


86


431


3


3,722

Loans charged off
(4,444
)

(2,707
)

(214
)

(728
)



(8,093
)
Balances, September 30, 2014
$
27,542


$
21,618


$
2,228


$
14,207


$
1


$
65,596



 
Nine Months Ended September 30, 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
1,736


(177
)

(39
)

100


$
(20
)

1,600

Recoveries on loans
4,485


2,356


303


1,360


23


8,527

Loans charged off
(5,855
)

(3,663
)

(551
)

(2,330
)

(2
)

(12,401
)
Balances, September 30, 2014
$
27,542


$
21,618


$
2,228


$
14,207


$
1


$
65,596




Three Months Ended September 30, 2013
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance for loan losses:
 

 

 

 

 

 
Balances, July 1
$
26,563


$
23,605


$
2,885


$
15,113


$
36


$
68,202

Provision for losses
(346
)

1,560


(31
)

333


17


1,533

Recoveries on loans
1,494


258


110


311


3


2,176

Loans charged off
(1,680
)

(2,795
)

(161
)

(1,051
)



(5,687
)
Balances, September 30, 2013
$
26,031


$
22,628


$
2,803


$
14,706


$
56


$
66,224



 
Nine Months Ended September 30, 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
1,929


132


267


3,236


$
68


5,632

Recoveries on loans
4,050


3,023


426


946


3


8,448

Loans charged off
(5,861
)

(7,230
)

(483
)

(3,633
)

(15
)

(17,222
)
Balances, September 30, 2013
$
26,031


$
22,628


$
2,803


$
14,706


$
56


$
66,224
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:
 
 
September 30, 2014
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance Balances:
 

 

 

 

 

 
Individually evaluated for impairment
$
1,818


$
609




$
484


 

$
2,911

Collectively evaluated for impairment
25,669


20,605


$
2,228


13,723


$
1


62,226

Loans Acquired with Deteriorated Credit Quality
55


404










459

Total Allowance for Loan Losses
$
27,542


$
21,618


$
2,228


$
14,207


$
1


$
65,596

Loan Balances:
 

 

 

 

 

 
Individually evaluated for impairment
$
18,284


$
22,502


 

$
3,644


 

$
44,430

Collectively evaluated for impairment
1,001,354


1,707,966


$
66,832


890,676


$
1,208


3,668,036

Loans Acquired with Deteriorated Credit Quality
7,317


51,443





1,241





60,001

Loans
$
1,026,955


$
1,781,911


$
66,832


$
895,561


$
1,208


$
3,772,467

 
 
 
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:
 

September 30, 2014

December 31, 2013
Commercial and industrial loans
$
7,139


$
9,283

Agriculture production financing and other loans to farmers
10,669


30

Real estate Loans:
 

 
Construction
951


4,978

Commercial and farmland
14,680


28,095

Residential
13,546


12,068

Home Equity
1,896


1,667

Individuals' loans for household and other personal expenditures
223


117

Other Loans



164

Total
$
49,104


$
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 as of the periods indicated:
 
 
 

 

 
 
September 30, 2014
 
Unpaid
Principal
Balance
 
Recorded
Investment
 
Related
Allowance
Impaired loans with no related allowance:
 
 
 
 
 
Commercial and industrial loans
$
30,525

 
$
13,122

 
 
Agriculture production financing and other loans to farmers
28

 
25

 
 
Real estate Loans:
 
 
 
 
 
Construction
11,455

 
8,168

 
 
Commercial and farmland
82,625

 
60,605

 
 
Residential
4,826

 
2,986

 
 
Home equity
3,272

 
118

 
 
Other loans
33

 
 
 
 
Total
$
132,764

 
$
85,024

 
 
Impaired loans with related allowance:
 
 
 
 
 
Commercial and industrial loans
$
2,027

 
$
1,810

 
$
773

Agriculture production financing and other loans to farmers
10,645

 
10,645

 
1,100

Real estate Loans:
 
 
 
 
 
Commercial and farmland
7,159

 
4,478

 
1,013

Residential
1,460

 
1,460

 
484

Total
$
21,291

 
$
18,393

 
$
3,370

Total Impaired Loans
$
154,055

 
$
103,417

 
$
3,370



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

 
$
16,371

 
 
Agriculture production financing and 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:
 
 
 
 
 
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 September 30, 2014

Nine Months Ended September 30, 2014
 
Average
Recorded Investment

Interest
Income Recognized

Average
Recorded Investment

Interest
Income Recognized
Impaired loans with no related allowance:
 

 

 

 
Commercial and industrial loans
$
13,406


$
86


$
13,820


$
263

Agriculture production financing and other loans to farmers
25




27



Real estate Loans:
 

 




Construction
8,026


112


8,197


331

Commercial and farmland
61,356


895


62,367


2,663

Residential
3,018


40


3,164


93

Home equity
118





147



Total
$
85,949


$
1,133


$
87,722


$
3,350

Impaired loans with related allowance:
 

 

 

 
Commercial and industrial loans
$
1,814


$
10


$
1,864


$
30

Agriculture production financing and other loans to farmers
10,645




10,645



Real estate Loans:
 

 




Commercial and farmland
4,484




4,528


23

Residential
1,460




1,460



Total
$
18,403


$
10


$
18,497


$
53

Total Impaired Loans
$
104,352


$
1,143


$
106,219


$
3,403



 
Three Months Ended September 30, 2013

Nine Months Ended September 30, 2013
 
Average
Recorded Investment

Interest
Income Recognized

Average
Recorded Investment

Interest
Income Recognized
Impaired loans with no related allowance:
 

 

 

 
Commercial and industrial loans
$
8,352


$
110


$
9,553


$
184

Agriculture production financing and other loans to farmers
32




33



Real estate Loans:







Construction
4,115


29


4,262


85

Commercial and farmland
34,298


620


35,198


1,642

Residential
2,687


82


3,028


114

Home equity
217





236



Other loans
174




184


1

Total
$
49,875


$
841


$
52,494


$
2,026

Impaired loans with related allowance:







Commercial and industrial loans
$
865




$
889


$
7

Real estate Loans:







Commercial and farmland
5,742


$
5


5,844


5

Residential
74




78




Total
$
6,681


$
5


$
6,811


$
12

Total Impaired Loans
$
56,556


$
846


$
59,305


$
2,038
Credit Quality of Loan Portfolio by Loan Class
The following tables summarize the credit quality of the Corporation’s loan portfolio, by loan class 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.
 
 
September 30, 2014
 
Commercial
Pass

Commercial
Special
Mention

Commercial Substandard

Commercial
Doubtful

Commercial Loss

Consumer Performing

Consumer
Non-Performing

Total
Commercial and industrial loans
$
835,214


$
15,803


$
49,658


$
295




 

 

$
900,970

Agriculture production financing and other loans to farmers
83,753


1,957


13,939


 



 

 

99,649

Real estate Loans:
 

 

 

 



 

 

 
Construction
153,293


1,584


8,606


 



$
14,581


$
149


178,213

Commercial and farmland
1,480,054


40,232


83,177







 

235


1,603,698

Residential
139,702


2,181


7,227







464,912


11,587


625,609

Home equity
6,068


266


447


 



261,316


1,855


269,952

Individuals' loans for household and other personal expenditures
 

 

 

 



66,589


243


66,832

Lease financing receivables, net of unearned income
1,095


 

113


 









1,208

Other loans
26,333


3





 



 

 

26,336

Loans
$
2,725,512


$
62,026


$
163,167


$
295




$
807,398


$
14,069


$
3,772,467


 
 
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 September 30, 2014, and December 31, 2013:

 
September 30, 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
$
887,365


$
2,522


$
3,758


$
186


$
7,139


$
13,605


$
900,970

Agriculture production financing and other loans to farmers
88,526


174


280





10,669


11,123


99,649

Real estate Loans:
 

 

 

 

 

 

 
Construction
176,229


1,033






951


1,984


178,213

Commercial and farmland
1,583,226


4,044


1,748





14,680


20,472


1,603,698

Residential
607,204


3,841


469


549


13,546


18,405


625,609

Home equity
266,566


710


703


77


1,896


3,386


269,952

Individuals' loans for household and other personal expenditures
66,366


217


7


19


223


466


66,832

Lease financing receivables, net of unearned income
1,208




 









1,208

Other loans
26,336




 

 







26,336

Loans
$
3,703,026


$
12,541


$
6,965


$
831


$
49,104


$
69,441


$
3,772,467



 
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 in the Corporation's loan portfolio that occurred during the periods indicated:
 

Three Months Ended September 30, 2014

Nine Months Ended September 30, 2014

Pre-Modification
Recorded
Balance

Post-Modification
Recorded
Balance

Number
of
Loans

Pre-Modification
Recorded
Balance

Post-Modification
Recorded
Balance

Number
of
Loans
Real estate Loans:
 

 

 

 

 

 
Commercial and farmland









$
259


$
259


1

Residential
$
256


$
245


5


448


428


7

Home Equity
229


247


7


314


343


10

Individuals' loans for household and other personal expenditures









26


26


2

Total
$
485


$
492


12


$
1,047


$
1,056


20

 
 


Three Months Ended September 30, 2013

Nine Months Ended September 30, 2013

Pre-Modification
Recorded
Balance

Post-Modification
Recorded
Balance

Number
of
Loans

Pre-Modification
Recorded
Balance

Post-Modification
Recorded
Balance

Number
of
Loans
Commercial and industrial loans
$
162


$
183


1


$
294


$
315


5

Real estate Loans:


 

 

 

 

 
Commercial and farmland
1,464


1,469


6


6,449


5,450


10

Residential
190


191


2


658


649


8

Individuals' loans for household and other personal expenditures






44


45


2

Total
$
1,816


$
1,843


9


$
7,445


$
6,459


25




The following tables show the recorded investment of troubled debt restructurings, by modification type, that occurred during the periods indicated:
 

Three Months Ended September 30, 2014

Term
Modification

Rate
Modification

Combination

Total
Modification
Real estate Loans:
 

 

 

 
Residential




$
241


$
241

           Home Equity




245


245

Total




$
486


$
486




Nine Months Ended September 30, 2014

Term
Modification

Rate
Modification

Combination

Total
Modification
Real estate Loans:
 

 

 

 
Commercial and farmland
$
283








$
283

Residential



$
60


$
361


421

           Home Equity
 
 
95

 
245

 
340

Individuals' loans for household and other personal expenditures
 




24


24

Total
$
283


$
155


$
630


$
1,068




Three Months Ended September 30, 2013

Term
Modification

Rate
Modification

Combination

Total
Modification
Commercial and industrial loans
$
175






$
175

Real estate Loans:
 

 

 

 
Commercial and farmland
1,399







1,399

Residential
158


$
34




192

Total
$
1,732


$
34




$
1,766





Nine Months Ended September 30, 2013

Term
Modification

Rate
Modification

Combination

Total
Modification
Commercial and industrial loans
$
228




$
63


$
291

Real estate Loans:
 

 

 

 
Commercial and farmland
1,399





1,950


3,349

Residential
158


$
94


353


605

Individuals' loans for household and other personal expenditures
 




26


26

Total
$
1,785


$
94


$
2,392


$
4,271
Summary of Troubled Debt Restructurings and Subsequent Defaults
The following tables summarize the troubled debt restructures that occurred during the twelve months ended September 30, 2014 and September 30, 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 September 30, 2014

Nine Months Ended September 30, 2014

Number of
Loans

Recorded
Balance

Number of
Loans

Recorded
Balance
Real estate Loans:
 

 

 

 
Residential
1


$
71


1


$
71

Total
1


$
71


1


$
71



Three Months Ended September 30, 2013

Nine Months Ended September 30, 2013

Number of
Loans

Recorded
Balance

Number of
Loans

Recorded
Balance
Commercial and industrial loans
1

$
18


1


$
18

Real estate Loans:
 

 

 

 
Commercial and farmland




1


223

Residential
2

166


2


166

Total
3

$
184


4


$
407