|
LOANS, ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY (Tables)
|
12 Months Ended |
|
Dec. 31, 2012
|
| Loans, Allowance for Loan Losses and Credit Quality [Abstract] |
|
| Schedule of Allowance for Loan Losses |
The following table summarizes changes in the allowance for loan losses by loan category and bifurcates the amount of allowance allocated to each loan category based on collective impairment analysis and loans evaluated individually for impairment:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2012 | |
| Commercial
and
Industrial | | Commercial
Real Estate | | Commercial
Construction | | Small
Business | | Residential
Real
Estate | | Home
Equity | | Consumer
Other | | Total | | | (Dollars in thousands) | | Allowance for loan losses | | | | | | | | | | | | | | | | | Beginning balance | $ | 11,682 |
| | $ | 23,514 |
| | $ | 2,076 |
| | $ | 1,896 |
| | $ | 3,113 |
| | $ | 4,597 |
| | $ | 1,382 |
| | $ | 48,260 |
| | Charge-offs | (6,191 | ) | | (4,348 | ) | | — |
| | (616 | ) | | (1,094 | ) | | (3,178 | ) | | (1,165 | ) | | (16,592 | ) | | Recoveries | 963 |
| | 188 |
| | — |
| | 134 |
| | 151 |
| | 93 |
| | 581 |
| | 2,110 |
| | Provision | 7,007 |
| | 3,244 |
| | 735 |
| | 110 |
| | 760 |
| | 6,191 |
| | 9 |
| | 18,056 |
| | Ending balance | $ | 13,461 |
| | $ | 22,598 |
| | $ | 2,811 |
| | $ | 1,524 |
| | $ | 2,930 |
| | $ | 7,703 |
| | $ | 807 |
| | $ | 51,834 |
| | Ending balance: individually evaluated for impairment | $ | 1,084 |
| | $ | 516 |
| | $ | — |
| | $ | 353 |
| | $ | 1,302 |
| | $ | 35 |
| | $ | 130 |
| | $ | 3,420 |
| | Ending balance: collectively evaluated for impairment | $ | 12,377 |
| | $ | 22,082 |
| | $ | 2,811 |
| | $ | 1,171 |
| | $ | 1,628 |
| | $ | 7,668 |
| | $ | 677 |
| | $ | 48,414 |
| | Financing receivables | | | | | | | | | | | | | | | | | Ending balance: total loans by group | $ | 687,511 |
| | $ | 2,122,153 |
| | $ | 188,768 |
| | $ | 78,594 |
| | $ | 612,881 |
| | $ | 802,149 |
| | $ | 26,955 |
| | $ | 4,519,011 |
| (1) | Ending balance: individually evaluated for impairment | $ | 8,575 |
| | $ | 33,868 |
| | $ | — |
| | $ | 2,279 |
| | $ | 15,373 |
| | $ | 4,435 |
| | $ | 2,129 |
| | $ | 66,659 |
| | Ending balance: collectively evaluated for impairment | $ | 678,936 |
| | $ | 2,088,285 |
| | $ | 188,768 |
| | $ | 76,315 |
| | $ | 597,508 |
| | $ | 797,714 |
| | $ | 24,826 |
| | $ | 4,452,352 |
| | | | | | | | | | | | | | | | | | | | December 31, 2011 | |
| Commercial
and
Industrial | | Commercial
Real Estate | | Commercial
Construction | | Small
Business | | Residential
Real
Estate | | Home
Equity | | Consumer
Other | | Total | | Allowance for loan losses | | | | | | | | | | | | | | | | | Beginning balance | $ | 10,423 |
| | $ | 21,939 |
| | $ | 2,145 |
| | $ | 3,740 |
| | $ | 2,915 |
| | $ | 3,369 |
| | $ | 1,724 |
| | $ | 46,255 |
| | Charge-offs | (2,888 | ) | | (2,631 | ) | | (769 | ) | | (1,190 | ) | | (559 | ) | | (1,626 | ) | | (1,678 | ) | | (11,341 | ) | | Recoveries | 420 |
| | 97 |
| | 500 |
| | 160 |
| | — |
| | 52 |
| | 635 |
| | 1,864 |
| | Provision | $ | 3,727 |
| | $ | 4,109 |
| | $ | 200 |
| | $ | (814 | ) | | $ | 757 |
| | $ | 2,802 |
| | $ | 701 |
| | $ | 11,482 |
| | Ending balance | $ | 11,682 |
| | $ | 23,514 |
| | $ | 2,076 |
| | $ | 1,896 |
| | $ | 3,113 |
| | $ | 4,597 |
| | $ | 1,382 |
| | $ | 48,260 |
| | Ending balance: individually evaluated for impairment | $ | 562 |
| | $ | 457 |
| | $ | — |
| | $ | 148 |
| | $ | 1,245 |
| | $ | 31 |
| | $ | 239 |
| | $ | 2,682 |
| | Ending balance: collectively evaluated for impairment | $ | 11,120 |
| | $ | 23,057 |
| | $ | 2,076 |
| | $ | 1,748 |
| | $ | 1,868 |
| | $ | 4,566 |
| | $ | 1,143 |
| | $ | 45,578 |
| | Financing receivables | | | | | | | | | | | | | | | | | Ending balance: total loans by group | $ | 575,716 |
| | $ | 1,847,654 |
| | $ | 128,904 |
| | $ | 78,509 |
| | $ | 426,201 |
| | $ | 696,063 |
| | $ | 41,343 |
| | $ | 3,794,390 |
| (1) | Ending balance: individually evaluated for impairment | $ | 5,608 |
| | $ | 37,476 |
| | $ | 843 |
| | $ | 2,326 |
| | $ | 12,984 |
| | $ | 326 |
| | $ | 2,138 |
| | $ | 61,701 |
| | Ending balance: collectively evaluated for impairment | $ | 570,108 |
| | $ | 1,810,178 |
| | $ | 128,061 |
| | $ | 76,183 |
| | $ | 413,217 |
| | $ | 695,737 |
| | $ | 39,205 |
| | $ | 3,732,689 |
| |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2010 | |
| Commercial
and
Industrial | | Commercial
Real Estate | | Commercial
Construction | | Small
Business | | Residential
Real
Estate | |
Home
Equity
| | Consumer
Other | | Total | | Allowance for loan losses | | | | | | | | | | | | | | | | | Beginning balance | $ | 7,545 |
| | $ | 19,451 |
| | $ | 2,457 |
| | $ | 3,372 |
| | $ | 2,840 |
| | $ | 3,945 |
| | $ | 2,751 |
| | $ | 42,361 |
| | Charge-offs | (5,170 | ) | | (3,448 | ) | | (1,716 | ) | | (2,279 | ) | | (557 | ) | | (939 | ) | | (2,078 | ) | | (16,187 | ) | | Recoveries | 361 |
| | 1 |
| | — |
| | 217 |
| | 59 |
| | 131 |
| | 657 |
| | 1,426 |
| | Provision | 7,687 |
| | 5,935 |
| | 1,404 |
| | 2,430 |
| | 573 |
| | 232 |
| | 394 |
| | 18,655 |
| | Ending balance | $ | 10,423 |
| | $ | 21,939 |
| | $ | 2,145 |
| | $ | 3,740 |
| | $ | 2,915 |
| | $ | 3,369 |
| | $ | 1,724 |
| | $ | 46,255 |
| | Ending balance: individually evaluated for impairment | $ | 511 |
| | $ | 411 |
| | $ | 151 |
| | $ | 221 |
| | $ | 991 |
| | $ | 17 |
| | $ | 245 |
| | $ | 2,547 |
| | Ending balance: collectively evaluated for impairment | $ | 9,912 |
| | $ | 21,528 |
| | $ | 1,994 |
| | $ | 3,519 |
| | $ | 1,924 |
| | $ | 3,352 |
| | $ | 1,479 |
| | $ | 43,708 |
| | Financing receivables | | | | | | | | | | | | | | | | | Ending balance: total loans by group | $ | 502,952 |
| | $ | 1,717,118 |
| | $ | 129,421 |
| | $ | 80,026 |
| | $ | 478,111 |
| | $ | 579,278 |
| | $ | 68,773 |
| | $ | 3,555,679 |
| (1) | Ending balance: individually evaluated for impairment | $ | 3,823 |
| | $ | 26,665 |
| | $ | 1,999 |
| | $ | 2,494 |
| | $ | 9,963 |
| | $ | 428 |
| | $ | 2,014 |
| | $ | 47,386 |
| | Ending balance: collectively evaluated for impairment | $ | 499,129 |
| | $ | 1,690,453 |
| | $ | 127,422 |
| | $ | 77,532 |
| | $ | 468,148 |
| | $ | 578,850 |
| | $ | 66,759 |
| | $ | 3,508,293 |
| |
| | (1) | The amount of deferred fees included in the ending balance was $3.1 million, $2.9 million, and $2.8 million at December 31, 2012, 2011, and 2010, respectively. |
|
| Schedule of Internal Risk-Rating Categories for the Company's Commercial Portfolio |
The following table details the internal risk-rating categories for the Company’s commercial portfolio:
| | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2012 | Category | Risk
Rating | | Commercial and
Industrial | | Commercial Real
Estate | | Commercial
Construction | | Small Business | | Total | | | | (Dollars in thousands) | Pass | 1 - 6 | | $ | 647,984 |
| | $ | 1,928,148 |
| | $ | 177,693 |
| | $ | 71,231 |
| | $ | 2,825,056 |
| Potential weakness | 7 | | 16,420 |
| | 92,651 |
| | 6,195 |
| | 3,213 |
| | 118,479 |
| Definite weakness | 8 | | 21,979 |
| | 98,688 |
| | 4,880 |
| | 4,080 |
| | 129,627 |
| Partial loss probable | 9 | | 1,128 |
| | 2,666 |
| | — |
| | 70 |
| | 3,864 |
| Definite loss | 10 | | — |
| | — |
| | — |
| | — |
| | — |
| Total | | | $ | 687,511 |
| | $ | 2,122,153 |
| | $ | 188,768 |
| | $ | 78,594 |
| | $ | 3,077,026 |
| | | | December 31, 2011 | Category | Risk
Rating | | Commercial and
Industrial | | Commercial Real
Estate | | Commercial
Construction | | Small Business | | Total | | | | (Dollars in thousands) | Pass | 1 - 6 | | $ | 528,798 |
| | $ | 1,626,745 |
| | $ | 114,633 |
| | $ | 70,543 |
| | $ | 2,340,719 |
| Potential weakness | 7 | | 33,313 |
| | 124,661 |
| | 7,859 |
| | 4,041 |
| | 169,874 |
| Definite weakness | 8 | | 12,683 |
| | 93,438 |
| | 6,412 |
| | 3,762 |
| | 116,295 |
| Partial loss probable | 9 | | 922 |
| | 2,810 |
| | — |
| | 163 |
| | 3,895 |
| Definite loss | 10 | | — |
| | — |
| | — |
| | — |
| | — |
| Total | | | $ | 575,716 |
| | $ | 1,847,654 |
| | $ | 128,904 |
| | $ | 78,509 |
| | $ | 2,630,783 |
|
|
| Schedule of Weighted Average FICO Scores and Weighted Average Combined LTV Ratio |
The following table shows the weighted average FICO scores and the weighted average combined LTV ratio, exclusive of loans acquired from Central, for the periods indicated below:
| | | | | | | | December 31 | | 2012 | | 2011 | Residential portfolio | | | | FICO score (re-scored)(1) | 727 |
| | 731 |
| LTV (re-valued)(2) | 67.0 | % | | 67.0 | % | Home equity portfolio | | | | FICO score (re-scored)(1) | 763 |
| | 762 |
| LTV (re-valued)(2) | 54.0 | % | | 55.0 | % |
| | (1) | The average FICO scores above are based upon rescores available from November and actual score data for loans booked between December 1 and December 31, for the years indicated. |
| | (2) | The LTV ratios are based upon updated automated valuations as of November 30, 2011 for the years indicated, if applicable. |
|
| Schedule of Nonaccrual Loans |
The following table shows nonaccrual loans at the dates indicated:
| | | | | | | | | | December 31 | | 2012 | | 2011 | | (Dollars in thousands) | Commercial and industrial | $ | 2,666 |
| | $ | 1,883 |
| Commercial real estate | 6,574 |
| | 12,829 |
| Commercial construction | — |
| | 280 |
| Small business | 570 |
| | 542 |
| Residential real estate | 11,472 |
| | 9,867 |
| Home equity | 7,311 |
| (1) | 3,130 |
| Consumer — other | 121 |
| | 381 |
| Total nonaccrual loans(2) | $ | 28,714 |
| | $ | 28,912 |
|
| | (1) | The increase in nonaccrual home equity loans was driven by regulatory guidance issued during 2012, pertaining to income recognition practices on performing junior lien mortgages. While the loans are currently performing they are placed on nonaccrual as a result of delinquency with respect to the first position, which is held by another financial institution. |
| | (2) | Included in these amounts were $6.6 million and $9.2 million nonaccruing TDRs at December 31, 2012 and 2011, respectively. |
|
| Schedule of the Age Analysis of Past Due Financing Receivables |
The following table shows the age analysis of past due financing receivables as of the dates indicated:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2012 | | 30-59 days | | 60-89 days | | 90 days or more | | Total Past Due | | Current | | Total
Financing
Receivables | | Recorded
Investment
>90 Days
and Accruing | | Number
of Loans | | Principal
Balance | | Number
of Loans | | Principal
Balance | | Number
of Loans | | Principal
Balance | | Number
of Loans | | Principal
Balance | | | (Dollars in thousands) | Commercial and industrial | 14 |
| | $ | 1,305 |
| | 7 |
| | $ | 336 |
| | 23 |
| | $ | 1,875 |
| | 44 |
| | $ | 3,516 |
| | $ | 683,995 |
| | $ | 687,511 |
| | $ | — |
| Commercial real estate | 19 |
| | 5,028 |
| | 8 |
| | 2,316 |
| | 31 |
| | 6,054 |
| | 58 |
| | 13,398 |
| | 2,108,755 |
| | 2,122,153 |
| | — |
| Commercial construction | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 188,768 |
| | 188,768 |
| | — |
| Small business | 20 |
| | 750 |
| | 8 |
| | 94 |
| | 10 |
| | 320 |
| | 38 |
| | 1,164 |
| | 77,430 |
| | 78,594 |
| | — |
| Residential real estate | 17 |
| | 3,053 |
| | 7 |
| | 1,848 |
| | 40 |
| | 7,501 |
| | 64 |
| | 12,402 |
| | 592,266 |
| | 604,668 |
| | — |
| Residential construction | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 8,213 |
| | 8,213 |
| | — |
| Home equity | 32 |
| | 2,756 |
| | 10 |
| | 632 |
| | 17 |
| | 1,392 |
| | 59 |
| | 4,780 |
| | 797,369 |
| | 802,149 |
| | — |
| Consumer — other | 208 |
| | 1,217 |
| | 32 |
| | 224 |
| | 28 |
| | 153 |
| | 268 |
| | 1,594 |
| | 25,361 |
| | 26,955 |
| | 52 |
| Total | 310 |
| | $ | 14,109 |
| | 72 |
| | $ | 5,450 |
| | 149 |
| | $ | 17,295 |
| | 531 |
| | $ | 36,854 |
| | $ | 4,482,157 |
| | $ | 4,519,011 |
| | $ | 52 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2011 | | 30-59 days | | 60-89 days | | 90 days or more | | Total Past Due | | Current | | Total
Financing
Receivables | | Recorded
Investment
>90 Days
and Accruing | | Number
of Loans | | Principal
Balance | | Number
of Loans | | Principal
Balance | | Number
of Loans | | Principal
Balance | | Number
of Loans | | Principal
Balance | | | (Dollars in thousands) | Commercial and industrial | 21 |
| | $ | 2,143 |
| | 10 |
| | $ | 2,709 |
| | 20 |
| | $ | 1,279 |
| | 51 |
| | $ | 6,131 |
| | $ | 569,585 |
| | $ | 575,716 |
| | $ | — |
| Commercial real estate | 7 |
| | 3,684 |
| | 7 |
| | 2,522 |
| | 29 |
| | 6,737 |
| | 43 |
| | 12,943 |
| | 1,834,711 |
| | 1,847,654 |
| | — |
| Commercial construction | — |
| | — |
| | — |
| | — |
| | 3 |
| | 280 |
| | 3 |
| | 280 |
| | 128,624 |
| | 128,904 |
| | — |
| Small business | 19 |
| | 320 |
| | 3 |
| | 21 |
| | 12 |
| | 148 |
| | 34 |
| | 489 |
| | 78,020 |
| | 78,509 |
| | — |
| Residential real estate | 14 |
| | 2,770 |
| | 10 |
| | 3,208 |
| | 31 |
| | 6,065 |
| | 55 |
| | 12,043 |
| | 404,527 |
| | 416,570 |
| | — |
| Residential construction | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 9,631 |
| | 9,631 |
| | — |
| Home equity | 28 |
| | 1,483 |
| | 19 |
| | 1,139 |
| | 19 |
| | 1,502 |
| | 66 |
| | 4,124 |
| | 691,939 |
| | 696,063 |
| | — |
| Consumer — other | 260 |
| | 1,821 |
| | 57 |
| | 303 |
| | 58 |
| | 374 |
| | 375 |
| | 2,498 |
| | 38,845 |
| | 41,343 |
| | 41 |
| Total | 349 |
| | $ | 12,221 |
| | 106 |
| | $ | 9,902 |
| | 172 |
| | $ | 16,385 |
| | 627 |
| | $ | 38,508 |
| | $ | 3,755,882 |
| | $ | 3,794,390 |
| | $ | 41 |
|
|
| Schedule of Troubled Debt Restructuring and Other Pertinent Information |
The following table shows the Company’s total TDRs and other pertinent information as of the dates indicated:
| | | | | | | | | | December 31 | | 2012 | | 2011 | | (Dollars in thousands) | TDRs on accrual status | $ | 46,764 |
| | $ | 37,151 |
| TDRs on nonaccrual status | 6,554 |
| | 9,230 |
| Total TDR’s | $ | 53,318 |
| | $ | 46,381 |
| Amount of specific reserves included in the allowance for loan loss associated with TDRs: | $ | 3,049 |
| | $ | 1,887 |
| Additional commitments to lend to a borrower who has been a party to a TDR: | $ | 1,847 |
| | $ | 693 |
|
|
| Schedule of Troubled Debt Restructuring Modifications |
The following table shows the modifications which occurred during the periods indicated and the change in the recorded investment subsequent to the modifications occurring:
| | | | | | | | | | | | | Troubled Debt Restructurings | | Years Ended December 31 | | 2012 | | Number
of Contracts | | Pre-Modification
Outstanding Recorded
Investment | | Post-Modification
Outstanding Recorded
Investment(1) | | (Dollars in thousands) |
| | | | | | Commercial & industrial | 18 |
| | $ | 3,372 |
| | $ | 3,372 |
| Commercial real estate | 15 |
| | 7,121 |
| | 7,121 |
| Small business | 14 |
| | 621 |
| | 621 |
| Residential real estate | 20 |
| | 3,495 |
| | 3,499 |
| Home equity | 20 |
| | 1,195 |
| | 1,198 |
| Consumer — other | 33 |
| | 328 |
| | 329 |
| Total | 120 |
| | $ | 16,132 |
| | $ | 16,140 |
| | | | | | |
| 2011 | Commercial & industrial | 11 |
| | $ | 1,165 |
| | $ | 1,165 |
| Commercial real estate | 17 |
| | 8,707 |
| | 8,707 |
| Small business | 37 |
| | 1,270 |
| | 1,270 |
| Residential real estate | 16 |
| | 3,460 |
| | 3,536 |
| Home equity | 2 |
| | 101 |
| | 101 |
| Consumer — other | 89 |
| | 985 |
| | 985 |
| Total | 172 |
| | $ | 15,688 |
| | $ | 15,764 |
|
| | | | | | | 2010 | Commercial & industrial | 11 |
| | $ | 1,286 |
| | $ | 1,286 |
| Commercial real estate | 14 |
| | 12,491 |
| | 12,491 |
| Small business | 47 |
| | 1,514 |
| | 1,514 |
| Residential real estate | 19 |
| | 5,797 |
| | 5,938 |
| Home equity | 4 |
| | 292 |
| | 296 |
| Consumer — other | 108 |
| | 1,405 |
| | 1,405 |
| Total | 203 |
| | $ | 22,785 |
| | $ | 22,930 |
|
| | (1) | The post-modification balances represent the balance of the loan on the date of modification. These amounts may show an increase when modifications include a capitalization of interest. |
|
| Schedule of Post-Modification Balance of Troubled Debt Restructuring by Type of Modification |
The following table shows the Company’s post-modification balance of TDRs listed by type of modification as of the periods indicated: | | | | | | | | | | | | | | Years Ended December 31 | | 2012 | | 2011 | | 2010 | | (Dollars in thousands) | Extended maturity | $ | 5,867 |
| | $ | 5,216 |
| | $ | 10,691 |
| Adjusted interest rate | 2,182 |
| | 1,746 |
| | 52 |
| Combination rate & maturity | 5,007 |
| | 8,802 |
| | 12,187 |
| Court ordered concession | 3,084 |
| | — |
| | — |
| Total | $ | 16,140 |
| | $ | 15,764 |
| | $ | 22,930 |
|
|
| Schedule of Troubled Debt Restructurings Which Have Subsequently Defaulted |
The following table shows the loans that have been modified during the past twelve months which have subsequently defaulted during the periods indicated. The Company considers a loan to have defaulted when it reaches 90 days past due. | | | | | | | | | | | | | | | | | | | | | | | Years Ended December 31 | | 2012 | | 2011 | | 2010 | | Number
of Contracts | | Recorded
Investment | | Number
of Contracts | | Recorded
Investment | | Number
of Contracts | | Recorded
Investment | | (Dollars in thousands) | Troubled debt restructurings that subsequently defaulted | | | | | | | | | | | | Commercial & industrial | 1 |
| | $ | 231 |
| | — |
| | $ | — |
| | — |
| | $ | — |
| Commercial real estate | 3 |
| | 696 |
| | — |
| | — |
| | 1 |
| | 263 |
| Small business | — |
| | — |
| | 5 |
| | 75 |
| | — |
| | — |
| Residential real estate | 1 |
| | 238 |
| | — |
| | — |
| | 2 |
| | 500 |
| Home equity | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Consumer — other | — |
| | — |
| | 1 |
| | 22 |
| | 2 |
| | 18 |
| Subtotal | 5 |
| | $ | 1,165 |
| | 6 |
| | $ | 97 |
| | 5 |
| | $ | 781 |
|
|
| Schedule of Impaired Loans by Loan Portfolio |
The table below sets forth information regarding the Company’s impaired loans as of the dates indicated:
| | | | | | | | | | | | | | | | | | | | | | Years Ended December 31 | | 2012 | | Recorded
Investment | | Unpaid
Principal
Balance | | Related
Allowance | | Average
Recorded
Investment | | Interest
Income
Recognized | | (Dollars in thousands) | With no related allowance recorded | | | | | | | | | | Commercial & industrial | $ | 5,849 |
| | $ | 7,343 |
| | $ | — |
| | $ | 6,993 |
| | $ | 391 |
| Commercial real estate | 12,999 |
| | 13,698 |
| | — |
| | 13,984 |
| | 952 |
| Commercial construction | — |
| | — |
| | — |
| | — |
| | — |
| Small business | 1,085 |
| | 1,147 |
| | — |
| | 1,217 |
| | 80 |
| Residential real estate | 2,545 |
| | 2,630 |
| | — |
| | 2,589 |
| | 118 |
| Home equity | 4,119 |
| | 4,166 |
| | — |
| | 4,190 |
| | 195 |
| Consumer — other | 700 |
| | 705 |
| | — |
| | 858 |
| | 72 |
| Subtotal | 27,297 |
| | 29,689 |
| | — |
| | 29,831 |
| | 1,808 |
| With an allowance recorded | | | | | | | | | | Commercial & industrial | $ | 2,726 |
| | $ | 2,851 |
| | $ | 1,084 |
| | $ | 2,883 |
| | $ | 143 |
| Commercial real estate | 20,869 |
| | 21,438 |
| | 516 |
| | 21,678 |
| | 1,340 |
| Commercial construction | — |
| | — |
| | — |
| | — |
| | — |
| Small business | 1,194 |
| | 1,228 |
| | 353 |
| | 1,255 |
| | 77 |
| Residential real estate | 12,828 |
| | 13,601 |
| | 1,302 |
| | 13,014 |
| | 560 |
| Home equity | 316 |
| | 389 |
| | 35 |
| | 324 |
| | 23 |
| Consumer — other | 1,429 |
| | 1,453 |
| | 130 |
| | 1,610 |
| | 60 |
| Subtotal | 39,362 |
| | 40,960 |
| | 3,420 |
| | 40,764 |
| | 2,203 |
| Total | $ | 66,659 |
| | $ | 70,649 |
| | $ | 3,420 |
| | $ | 70,595 |
| | $ | 4,011 |
| | 2011 | | Recorded
Investment | | Unpaid
Principal
Balance | | Related
Allowance | | Average
Recorded
Investment | | Interest
Income
Recognized | | (Dollars in thousands) | With no related allowance recorded | | | | | | | | | | Commercial & industrial | $ | 3,380 |
| | $ | 4,365 |
| | $ | — |
| | $ | 4,672 |
| | $ | 300 |
| Commercial real estate | 19,433 |
| | 20,010 |
| | — |
| | 19,760 |
| | 1,365 |
| Commercial construction | 843 |
| | 843 |
| | — |
| | 839 |
| | 59 |
| Small business | 1,131 |
| | 1,193 |
| | — |
| | 1,199 |
| | 84 |
| Residential real estate | — |
| | — |
| | — |
| | — |
| | — |
| Home equity | 22 |
| | 22 |
| | — |
| | 22 |
| | 1 |
| Consumer — other | 31 |
| | 32 |
| | — |
| | 35 |
| | 3 |
| Subtotal | 24,840 |
| | 26,465 |
| | — |
| | 26,527 |
| | 1,812 |
| With an allowance recorded | | | | | | | | | | Commercial & industrial | $ | 2,228 |
| | $ | 2,280 |
| | $ | 562 |
| | $ | 2,244 |
| | $ | 99 |
| Commercial real estate | 18,043 |
| | 19,344 |
| | 457 |
| | 19,951 |
| | 1,173 |
| Commercial construction | — |
| | — |
| | — |
| | — |
| | — |
| Small business | 1,195 |
| | 1,218 |
| | 148 |
| | 1,292 |
| | 73 |
| Residential real estate | 12,984 |
| | 13,651 |
| | 1,245 |
| | 13,059 |
| | 512 |
| Home equity | 304 |
| | 349 |
| | 31 |
| | 316 |
| | 19 |
| Consumer — other | 2,107 |
| | 2,125 |
| | 239 |
| | 1,928 |
| | 73 |
| Subtotal | 36,861 |
| | 38,967 |
| | 2,682 |
| | 38,790 |
| | 1,949 |
| Total | $ | 61,701 |
| | $ | 65,432 |
| | $ | 2,682 |
| | $ | 65,317 |
| | $ | 3,761 |
|
| | | | | | | | | | | | | | | | | | | | | | 2010 | | Recorded
Investment | | Unpaid
Principal
Balance | | Related
Allowance | | Average
Recorded
Investment | | Interest
Income
Recognized | | (Dollars in thousands) | With no related allowance recorded | | | | | | | | | | Commercial & industrial | $ | 2,451 |
| | $ | 2,917 |
| | $ | — |
| | $ | 2,539 |
| | $ | 171 |
| Commercial real estate | 19,538 |
| | 20,280 |
| | — |
| | 20,223 |
| | 1,394 |
| Commercial construction | 230 |
| | 230 |
| | — |
| | 248 |
| | 13 |
| Small business | 1,541 |
| | 1,656 |
| | — |
| | 1,689 |
| | 122 |
| Residential real estate | 205 |
| | 205 |
| | — |
| | 205 |
| | 10 |
| Home equity | — |
| | — |
| | — |
| | — |
| | — |
| Consumer — other | 10 |
| | 10 |
| | — |
| | 7 |
| | — |
| Subtotal | 23,975 |
| | 25,298 |
| | — |
| | 24,911 |
| | 1,710 |
| With an allowance recorded | | | | | | | | | | Commercial & industrial | $ | 1,372 |
| | $ | 1,373 |
| | $ | 511 |
| | $ | 1,384 |
| | $ | 94 |
| Commercial real estate | 7,127 |
| | 7,379 |
| | 411 |
| | 7,346 |
| | 438 |
| Commercial construction | 1,769 |
| | 1,769 |
| | 151 |
| | 1,762 |
| | 76 |
| Small business | 953 |
| | 954 |
| | 221 |
| | 956 |
| | 63 |
| Residential real estate | 9,758 |
| | 10,146 |
| | 991 |
| | 9,836 |
| | 396 |
| Home equity | 428 |
| | 435 |
| | 17 |
| | 432 |
| | 21 |
| Consumer — other | 2,004 |
| | 2,035 |
| | 245 |
| | 1,364 |
| | 58 |
| Subtotal | 23,411 |
| | 24,091 |
| | 2,547 |
| | 23,080 |
| | 1,146 |
| Total | $ | 47,386 |
| | $ | 49,389 |
| | $ | 2,547 |
| | $ | 47,991 |
| | $ | 2,856 |
|
|
| Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] |
The following is a summary of these PCI loans associated with the acquisition: | | | | | | | | (Dollars in thousands) | Contractually required principal and interest at acquisition | | $ | 47,548 |
| Contractual cash flows not expected to be collected | | (8,733 | ) | Expected cash flows at acquisition | | 38,815 |
| Interest component of expected cash flows | | (3,095 | ) | Basis in PCI loans at acquisition - estimated fair value | | $ | 35,720 |
|
The following table displays certain information pertaining to purchased credit impaired loans at the dates indicated: | | | | | | | | | | | At | | | | Acquisition | | | | November 9, 2012 | | | | (Dollars in thousands) | | Contractually required principal and interest payments receivable | (1) | $ | 47,548 |
| | Less: expected cash flows | (1) | 38,815 |
| | Initial nonaccretable difference | | $ | 8,733 |
| | | | | | Expected cash flows | (1) | $ | 38,815 |
| | Less: fair value (initial carrying amount) | | 35,720 |
| | Accretable Yield | | $ | 3,095 |
| | | | | | | | November 9, 2012 | December 31, 2012 | | | (Dollars in thousands) | Outstanding balance | | $ | 40,799 |
| $ | 36,278 |
| Carrying amount | | $ | 35,720 |
| $ | 32,054 |
|
(1) Reflective of anticipated prepayments. |
| Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Table Text Block] |
The following table summarizes activity in the accretable yield for the PCI loan portfolio: | | | | | | | | Year Ended December 31, 2012 | | | (Dollars in thousands) | Balance at the beginning of the period | | $ | — |
| Acquisition | | 3,095 |
| Accretion | | (903 | ) | Reclassification from nonaccretable difference for loans with improved cash flows (1) | | 272 |
| Balance at end of period | | $ | 2,464 |
|
| | (1) | Results in increased interest income during the period in which the loan paid off. |
|
| Schedule of Loans to Insiders |
Annual activity consists of the following at the periods indicated: | | | | | | | | | | 2012 | | 2011 | | (Dollars in thousands) | Principal balance of loans outstanding as of January 1, | $ | 41,184 |
| | $ | 29,986 |
| Loan advances | 89,666 |
| | 68,512 |
| Loan payments/payoffs (1) | (82,991 | ) | | (57,314 | ) | Principal balance of loans outstanding as of December 31, | $ | 47,859 |
| | $ | 41,184 |
|
| | (1) | Includes the removal of $900,000 related to a director who retired during 2012, and no longer considered an insider. Amount does not reflect an actual payoff of a loan. |
|