Loans Loans (Tables)
|
3 Months Ended |
Mar. 31, 2020 |
|---|
| Receivables [Abstract] |
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| Loan composition |
The period end loan composition was as follows: | | | | | | | | | | | | | ($ in Thousands) | March 31, 2020 | | December 31, 2019 | | Commercial and industrial | $ | 8,517,974 | | | $ | 7,354,594 | | | Commercial real estate — owner occupied | 940,687 | | | 911,265 | | | Commercial and business lending | 9,458,661 | | | 8,265,858 | | | Commercial real estate — investor | 4,038,036 | | | 3,794,517 | | | Real estate construction | 1,544,858 | | | 1,420,900 | | | Commercial real estate lending | 5,582,894 | | | 5,215,417 | | | Total commercial | 15,041,555 | | | 13,481,275 | | | Residential mortgage | 8,132,417 | | | 8,136,980 | | | Home equity | 844,901 | | | 852,025 | | | Other consumer | 346,761 | | | 351,159 | | | Total consumer | 9,324,079 | | | 9,340,164 | | Total loans(a) | $ | 24,365,633 | | | $ | 22,821,440 | |
(a) During the first quarter of 2020, the Corporation transferred $200 million of portfolio residential mortgages to residential loans held for sale, which are not included in total loans.
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| Commercial and consumer loans by credit quality indicator |
The following table presents commercial and consumer loans by credit quality indicator by vintage year at March 31, 2020: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans Amortized Cost Basis by Origination Year(a) | | | | | | | | ($ in Thousands) | Rev Loans Converted to Term(a) | | Rev Loans Amortized Cost Basis | YTD 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Total | | Commercial and industrial: | | | | | | | | | | | | Risk rating: | | | | | | | | | | | | Pass | $ | 777 | | | $ | 2,027,795 | | $ | 665,843 | | $ | 1,943,817 | | $ | 1,770,838 | | $ | 846,057 | | $ | 392,996 | | $ | 598,104 | | $ | 8,245,450 | | | Special Mention | — | | | 26,674 | | 5,570 | | 17,726 | | 5,255 | | 1,260 | | 7,287 | | 151 | | 63,922 | | Potential Problem(b) | 685 | | | 60,784 | | 134 | | 2,430 | | 21,030 | | 53,915 | | 9,053 | | 2,401 | | 149,747 | | Nonaccrual(c) | — | | | — | | 231 | | 7,200 | | 550 | | 16,171 | | 17,532 | | 17,171 | | 58,854 | | | Commercial and industrial | $ | 1,462 | | | $ | 2,115,253 | | $ | 671,779 | | $ | 1,971,173 | | $ | 1,797,672 | | $ | 917,402 | | $ | 426,869 | | $ | 617,827 | | $ | 8,517,974 | | | Commercial real estate - owner occupied: | | | | | | | | | | | | Risk rating: | | | | | | | | | | | | Pass | $ | — | | | $ | 45,423 | | $ | 33,107 | | $ | 220,821 | | $ | 141,652 | | $ | 133,631 | | $ | 160,435 | | $ | 150,188 | | $ | 885,257 | | | Special Mention | — | | | 86 | | — | | 16,438 | | 15,143 | | 139 | | 662 | | 5,321 | | 37,789 | | | Potential Problem | — | | | 230 | | 100 | | 780 | | 1,173 | | 1,463 | | 9,930 | | 2,126 | | 15,802 | | | Nonaccrual | — | | | — | | — | | — | | 88 | | 343 | | — | | 1,407 | | 1,838 | | | Commercial real estate - owner occupied | $ | — | | | $ | 45,739 | | $ | 33,207 | | $ | 238,039 | | $ | 158,056 | | $ | 135,576 | | $ | 171,026 | | $ | 159,043 | | $ | 940,687 | | | Commercial and business lending: | | | | | | | | | | | | Risk rating: | | | | | | | | | | | | Pass | $ | 777 | | | $ | 2,073,218 | | $ | 698,951 | | $ | 2,164,638 | | $ | 1,912,490 | | $ | 979,688 | | $ | 553,431 | | $ | 748,292 | | $ | 9,130,708 | | | Special Mention | — | | | 26,760 | | 5,570 | | 34,163 | | 20,398 | | 1,399 | | 7,949 | | 5,472 | | 101,711 | | Potential Problem(b) | 685 | | | 61,014 | | 234 | | 3,211 | | 22,204 | | 55,378 | | 18,983 | | 4,527 | | 165,550 | | Nonaccrual(c) | — | | | — | | 231 | | 7,200 | | 637 | | 16,514 | | 17,532 | | 18,578 | | 60,692 | | | Commercial and business lending | $ | 1,462 | | | $ | 2,160,992 | | $ | 704,986 | | $ | 2,209,212 | | $ | 1,955,729 | | $ | 1,052,978 | | $ | 597,895 | | $ | 776,869 | | $ | 9,458,661 | | | Commercial real estate - investor: | | | | | | | | | | | | Risk rating: | | | | | | | | | | | | Pass | $ | — | | | $ | 206,640 | | $ | 499,631 | | $ | 1,253,538 | | $ | 820,547 | | $ | 348,738 | | $ | 405,718 | | $ | 344,191 | | $ | 3,879,003 | | | Special Mention | — | | | — | | — | | 33,440 | | 15,128 | | 15,239 | | 31,581 | | 1,525 | | 96,913 | | | Potential Problem | — | | | 1,157 | | 20 | | 30,714 | | 3,329 | | 283 | | 12,792 | | 12,734 | | 61,030 | | | Nonaccrual | — | | | 446 | | 570 | | — | | — | | — | | — | | 75 | | 1,091 | | | Commercial real estate - investor | $ | — | | | $ | 208,244 | | $ | 500,221 | | $ | 1,317,691 | | $ | 839,004 | | $ | 364,261 | | $ | 450,091 | | $ | 358,524 | | $ | 4,038,036 | | | Real estate construction: | | | | | | | | | | | | Risk rating: | | | | | | | | | | | | Pass | $ | — | | | $ | 80,118 | | $ | 121,768 | | $ | 708,726 | | $ | 438,100 | | $ | 146,967 | | $ | 3,331 | | $ | 25,389 | | $ | 1,524,400 | | | Special Mention | — | | | — | | — | | — | | 18,203 | | — | | — | | 16 | | 18,219 | | | Potential Problem | — | | | — | | — | | 148 | | — | | 1,557 | | — | | 48 | | 1,753 | | | Nonaccrual | — | | | — | | — | | — | | — | | — | | — | | 486 | | 486 | | | Real estate construction | $ | — | | | $ | 80,118 | | $ | 121,768 | | $ | 708,875 | | $ | 456,303 | | $ | 148,523 | | $ | 3,331 | | $ | 25,939 | | $ | 1,544,858 | | | Commercial real estate lending: | | | | | | | | | | | | Risk rating: | | | | | | | | | | | | Pass | $ | — | | | $ | 286,759 | | $ | 621,399 | | $ | 1,962,264 | | $ | 1,258,647 | | $ | 495,705 | | $ | 409,049 | | $ | 369,580 | | $ | 5,403,403 | | | Special Mention | — | | | — | | — | | 33,440 | | 33,331 | | 15,239 | | 31,581 | | 1,540 | | 115,132 | | | Potential Problem | — | | | 1,157 | | 20 | | 30,862 | | 3,329 | | 1,840 | | 12,792 | | 12,782 | | 62,783 | | | Nonaccrual | — | | | 446 | | 570 | | — | | — | | — | | — | | 560 | | 1,577 | | | Commercial real estate lending | $ | — | | | $ | 288,362 | | $ | 621,990 | | $ | 2,026,565 | | $ | 1,295,307 | | $ | 512,784 | | $ | 453,422 | | $ | 384,463 | | $ | 5,582,894 | | | Total commercial: | | | | | | | | | | | | Risk rating: | | | | | | | | | | | | Pass | $ | 777 | | | $ | 2,359,976 | | $ | 1,320,350 | | $ | 4,126,902 | | $ | 3,171,136 | | $ | 1,475,393 | | $ | 962,480 | | $ | 1,117,872 | | $ | 14,534,111 | | | Special Mention | — | | | 26,760 | | 5,570 | | 67,603 | | 53,729 | | 16,638 | | 39,530 | | 7,013 | | 216,843 | | | Potential Problem | 685 | | | 62,171 | | 255 | | 34,073 | | 25,532 | | 57,217 | | 31,775 | | 17,309 | | 228,333 | | | Nonaccrual | — | | | 446 | | 801 | | 7,200 | | 637 | | 16,514 | | 17,532 | | 19,138 | | 62,269 | | | Total commercial | $ | 1,462 | | | $ | 2,449,354 | | $ | 1,326,976 | | $ | 4,235,777 | | $ | 3,251,035 | | $ | 1,565,762 | | $ | 1,051,317 | | $ | 1,161,333 | | $ | 15,041,555 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans Amortized Cost Basis by Origination Year(a) | | | | | | | | ($ in Thousands) | Rev Loans Converted to Term(a) | | Rev Loans Amortized Cost Basis | YTD 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Total | | Residential mortgage: | | | | | | | | | | | | Risk rating: | | | | | | | | | | | | Pass | $ | — | | | $ | 92 | | $ | 352,107 | | $ | 1,815,240 | | $ | 874,080 | | $ | 1,474,788 | | $ | 1,321,163 | | $ | 2,226,104 | | $ | 8,063,574 | | | Special Mention | — | | | — | | — | | — | | 37 | | 22 | | 36 | | 572 | | 667 | | | Potential Problem | — | | | — | | — | | 587 | | 36 | | 992 | | 432 | | 1,274 | | 3,322 | | | Nonaccrual | — | | | — | | 619 | | 3,802 | | 5,422 | | 8,949 | | 12,678 | | 33,385 | | 64,855 | | | Residential mortgage | $ | — | | | $ | 92 | | $ | 352,726 | | $ | 1,819,630 | | $ | 879,575 | | $ | 1,484,752 | | $ | 1,334,308 | | $ | 2,261,335 | | $ | 8,132,417 | | | Home equity: | | | | | | | | | | | | Risk rating: | | | | | | | | | | | | Pass | $ | 6,286 | | | $ | 738,938 | | $ | 223 | | $ | 1,626 | | $ | 1,869 | | $ | 2,374 | | $ | 2,748 | | $ | 83,567 | | $ | 831,344 | | | Special Mention | 102 | | | 1,262 | | 65 | | 39 | | 91 | | 50 | | 97 | | 338 | | 1,942 | | | Potential Problem | — | | | 2,045 | | — | | — | | 46 | | — | | — | | 146 | | 2,238 | | | Nonaccrual | 221 | | | 916 | | 128 | | 224 | | 284 | | 383 | | 180 | | 7,263 | | 9,378 | | | Home equity | $ | 6,609 | | | $ | 743,161 | | $ | 417 | | $ | 1,888 | | $ | 2,290 | | $ | 2,807 | | $ | 3,025 | | $ | 91,314 | | $ | 844,901 | | | Other consumer: | | | | | | | | | | | | Risk rating: | | | | | | | | | | | | Pass | $ | 62 | | | $ | 184,495 | | $ | 2,874 | | $ | 16,037 | | $ | 6,843 | | $ | 3,213 | | $ | 2,369 | | $ | 130,073 | | $ | 345,904 | | | Special Mention | 4 | | | 559 | | — | | 1 | | — | | — | | 78 | | 4 | | 642 | | | Potential Problem | — | | | — | | — | | — | | — | | — | | — | | — | | — | | | Nonaccrual | 8 | | | 119 | | — | | 34 | | — | | 10 | | — | | 52 | | 215 | | | Other consumer | $ | 75 | | | $ | 185,173 | | $ | 2,874 | | $ | 16,072 | | $ | 6,843 | | $ | 3,223 | | $ | 2,447 | | $ | 130,129 | | $ | 346,761 | | | Total consumer: | | | | | | | | | | | | Risk rating: | | | | | | | | | | | | Pass | $ | 6,348 | | | $ | 923,525 | | $ | 355,204 | | $ | 1,832,904 | | $ | 882,791 | | $ | 1,480,375 | | $ | 1,326,279 | | $ | 2,439,744 | | $ | 9,240,821 | | | Special Mention | 106 | | | 1,821 | | 65 | | 40 | | 128 | | 71 | | 212 | | 914 | | 3,251 | | | Potential Problem | — | | | 2,045 | | — | | 587 | | 83 | | 992 | | 432 | | 1,420 | | 5,559 | | | Nonaccrual | 229 | | | 1,036 | | 748 | | 4,060 | | 5,706 | | 9,342 | | 12,857 | | 40,700 | | 74,448 | | | Total consumer | $ | 6,683 | | | $ | 928,426 | | $ | 356,017 | | $ | 1,837,590 | | $ | 888,708 | | $ | 1,490,781 | | $ | 1,339,780 | | $ | 2,482,777 | | $ | 9,324,079 | | | Total loans: | | | | | | | | | | | | Risk rating: | | | | | | | | | | | | Pass | $ | 7,125 | | | $ | 3,283,501 | | $ | 1,675,554 | | $ | 5,959,806 | | $ | 4,053,928 | | $ | 2,955,768 | | $ | 2,288,760 | | $ | 3,557,616 | | $ | 23,774,932 | | | Special Mention | 106 | | | 28,581 | | 5,635 | | 67,642 | | 53,857 | | 16,710 | | 39,741 | | 7,927 | | 220,093 | | | Potential Problem | 685 | | | 64,216 | | 255 | | 34,660 | | 25,615 | | 58,210 | | 32,207 | | 18,729 | | 233,892 | | | Nonaccrual | 229 | | | 1,482 | | 1,549 | | 11,260 | | 6,343 | | 25,856 | | 30,390 | | 59,838 | | 136,717 | | | Total loans | $ | 8,145 | | | $ | 3,377,780 | | $ | 1,682,992 | | $ | 6,073,368 | | $ | 4,139,743 | | $ | 3,056,543 | | $ | 2,391,098 | | $ | 3,644,110 | | $ | 24,365,633 | |
(a) Revolving loans converted to term loans are also reported in their year of origination (b) Includes $67 million of oil and gas related loans (c) Includes $29 million of oil and gas related loans The following table presents commercial and consumer loans by credit quality indicator at December 31, 2019: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ($ in Thousands) | Pass | | Special Mention | | Potential Problem | | Nonaccrual | | Total | | Commercial and industrial | $ | 7,118,448 | | | $ | 79,525 | | | $ | 110,308 | | | $ | 46,312 | | | $ | 7,354,594 | | | Commercial real estate - owner occupied | 866,193 | | | 25,115 | | | 19,889 | | | 67 | | | 911,265 | | | Commercial and business lending | 7,984,641 | | | 104,641 | | | 130,197 | | | 46,380 | | | 8,265,858 | | | Commercial real estate - investor | 3,620,785 | | | 139,873 | | | 29,449 | | | 4,409 | | | 3,794,517 | | | Real estate construction | 1,420,374 | | | 33 | | | — | | | 493 | | | 1,420,900 | | | Commercial real estate lending | 5,041,159 | | | 139,906 | | | 29,449 | | | 4,902 | | | 5,215,417 | | | Total commercial | 13,025,800 | | | 244,547 | | | 159,646 | | | 51,282 | | | 13,481,275 | | | Residential mortgage | 8,077,122 | | | 563 | | | 1,451 | | | 57,844 | | | 8,136,980 | | | Home equity | 841,757 | | | 1,164 | | | — | | | 9,104 | | | 852,025 | | | Other consumer | 350,260 | | | 748 | | | — | | | 152 | | | 351,159 | | | Total consumer | 9,269,139 | | | 2,475 | | | 1,451 | | | 67,099 | | | 9,340,164 | | | Total loans | $ | 22,294,939 | | | $ | 247,022 | | | $ | 161,097 | | | $ | 118,380 | | | $ | 22,821,440 | |
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| Summarized details of Loans |
The following table presents loans by past due status at March 31, 2020: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accruing | | | | | | | | | | | | ($ in Thousands) | Current | | 30-59 Days
Past Due | | 60-89 Days
Past Due | | 90 Days or
More
Past Due | | Nonaccrual(a)(b) | | Total | | Commercial and industrial | $ | 8,457,708 | | | $ | 508 | | | $ | 468 | | | $ | 436 | | | $ | 58,854 | | | $ | 8,517,974 | | | Commercial real estate - owner occupied | 938,798 | | | 51 | | | — | | | — | | | 1,838 | | | 940,687 | | | Commercial and business lending | 9,396,506 | | | 558 | | | 468 | | | 436 | | | 60,692 | | | 9,458,661 | | | Commercial real estate - investor | 4,022,482 | | | 14,462 | | | — | | | — | | | 1,091 | | | 4,038,036 | | | Real estate construction | 1,544,194 | | | 179 | | | — | | | — | | | 486 | | | 1,544,858 | | | Commercial real estate lending | 5,566,676 | | | 14,641 | | | — | | | — | | | 1,577 | | | 5,582,894 | | | Total commercial | 14,963,182 | | | 15,200 | | | 468 | | | 436 | | | 62,269 | | | 15,041,555 | | | Residential mortgage | 8,057,461 | | | 9,492 | | | 610 | | | — | | | 64,855 | | | 8,132,417 | | | Home equity | 828,523 | | | 6,012 | | | 988 | | | — | | | 9,378 | | | 844,901 | | | Other consumer | 342,950 | | | 1,028 | | | 749 | | | 1,819 | | | 215 | | | 346,761 | | | Total consumer | 9,228,933 | | | 16,531 | | | 2,348 | | | 1,819 | | | 74,448 | | | 9,324,079 | | | Total loans | $ | 24,192,115 | | | $ | 31,731 | | | $ | 2,816 | | | $ | 2,255 | | | $ | 136,717 | | | $ | 24,365,633 | |
(a) Of the total nonaccrual loans, $75 million, or 55%, were current with respect to payment at March 31, 2020. (b) No interest income was recognized on nonaccrual loans during the three months ended March 31, 2020. In addition, there were $44 million of nonaccrual loans for which there was no related ACLL for the three months ended March 31, 2020. The following table presents loans by past due status at December 31, 2019: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accruing | | | | | | | | | | | | ($ in Thousands) | Current | | 30-59 Days
Past Due | | 60-89 Days
Past Due | | 90 Days or
More
Past Due | | Nonaccrual(a) | | Total | | Commercial and industrial | $ | 7,307,118 | | | $ | 576 | | | $ | 245 | | | $ | 342 | | | $ | 46,312 | | | $ | 7,354,594 | | | Commercial real estate - owner occupied | 909,828 | | | 1,369 | | | — | | | — | | | 67 | | | 911,265 | | | Commercial and business lending | 8,216,947 | | | 1,945 | | | 245 | | | 342 | | | 46,380 | | | 8,265,858 | | | Commercial real estate - investor | 3,788,296 | | | 1,812 | | | — | | | — | | | 4,409 | | | 3,794,517 | | | Real estate construction | 1,420,310 | | | 64 | | | 33 | | | — | | | 493 | | | 1,420,900 | | | Commercial real estate lending | 5,208,606 | | | 1,876 | | | 33 | | | — | | | 4,902 | | | 5,215,417 | | | Total commercial | 13,425,552 | | | 3,821 | | | 278 | | | 342 | | | 51,282 | | | 13,481,275 | | | Residential mortgage | 8,069,863 | | | 8,749 | | | 525 | | | — | | | 57,844 | | | 8,136,980 | | | Home equity | 837,274 | | | 4,483 | | | 1,164 | | | — | | | 9,104 | | | 852,025 | | | Other consumer | 347,007 | | | 1,135 | | | 949 | | | 1,917 | | | 152 | | | 351,159 | | | Total consumer | 9,254,144 | | | 14,366 | | | 2,638 | | | 1,917 | | | 67,099 | | | 9,340,164 | | | Total loans | $ | 22,679,696 | | | $ | 18,188 | | | $ | 2,916 | | | $ | 2,259 | | | $ | 118,380 | | | $ | 22,821,440 | |
(a) Of the total nonaccrual loans, $48 million, or 41%, were current with respect to payment at December 31, 2019.
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| Summarized details of impaired Loans |
The following table presents impaired loans individually evaluated under ASC Topic 310, excluding $2 million of purchased credit-impaired loans, at December 31, 2019: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ($ in Thousands) | Recorded
Investment | | Unpaid
Principal
Balance | | Related
Allowance | | Average
Recorded
Investment | | Interest
Income
Recognized | | Loans with a related allowance | | | | | | | | | | | Commercial and industrial | $ | 47,249 | | | $ | 63,346 | | | $ | 12,010 | | | $ | 45,290 | | | $ | 1,832 | | | Commercial real estate — owner occupied | 1,676 | | | 1,682 | | | 19 | | | 1,774 | | | 88 | | | Commercial and business lending | 48,924 | | | 65,028 | | | 12,029 | | | 47,064 | | | 1,919 | | | Commercial real estate — investor | 928 | | | 2,104 | | | 15 | | | 950 | | | 15 | | | Real estate construction | 477 | | | 559 | | | 67 | | | 494 | | | 30 | | | Commercial real estate lending | 1,405 | | | 2,663 | | | 82 | | | 1,445 | | | 45 | | | Total commercial | 50,329 | | | 67,691 | | | 12,111 | | | 48,509 | | | 1,965 | | | Residential mortgage | 21,450 | | | 22,625 | | | 2,740 | | | 23,721 | | | 856 | | | Home equity | 3,076 | | | 3,468 | | | 1,190 | | | 3,756 | | | 191 | | | Other consumer | 1,247 | | | 1,249 | | | 125 | | | 1,250 | | | 1 | | | Total consumer | 25,773 | | | 27,342 | | | 4,055 | | | 28,726 | | | 1,047 | | | Total loans with a related allowance | $ | 76,102 | | | $ | 95,033 | | | $ | 16,165 | | | $ | 77,235 | | | $ | 3,012 | | | Loans with no related allowance | | | | | | | | | | | Commercial and industrial | $ | 14,787 | | | $ | 33,438 | | | $ | — | | | $ | 20,502 | | | $ | 63 | | | Commercial real estate — owner occupied | — | | | — | | | — | | | — | | | — | | | Commercial and business lending | 14,787 | | | 33,438 | | | — | | | 20,502 | | | 63 | | | Commercial real estate — investor | 3,705 | | | 3,705 | | | — | | | 3,980 | | | 159 | | | Real estate construction | — | | | — | | | — | | | — | | | — | | | Commercial real estate lending | 3,705 | | | 3,705 | | | — | | | 3,980 | | | 159 | | | Total commercial | 18,491 | | | 37,142 | | | — | | | 24,482 | | | 222 | | | Residential mortgage | 14,104 | | | 14,461 | | | — | | | 10,962 | | | 373 | | | Home equity | 1,346 | | | 1,383 | | | — | | | 1,017 | | | 21 | | | Other consumer | — | | | — | | | — | | | — | | | — | | | Total consumer | 15,450 | | | 15,845 | | | — | | | 11,979 | | | 394 | | | Total loans with no related allowance | $ | 33,941 | | | $ | 52,987 | | | $ | — | | | $ | 36,462 | | | $ | 616 | | | Total | | | | | | | | | | | Commercial and industrial | $ | 62,035 | | | $ | 96,784 | | | $ | 12,010 | | | $ | 65,792 | | | $ | 1,895 | | | Commercial real estate — owner occupied | 1,676 | | | 1,682 | | | 19 | | | 1,774 | | | 88 | | | Commercial and business lending | 63,711 | | | 98,466 | | | 12,029 | | | 67,566 | | | 1,982 | | | Commercial real estate — investor | 4,633 | | | 5,808 | | | 15 | | | 4,931 | | | 174 | | | Real estate construction | 477 | | | 559 | | | 67 | | | 494 | | | 30 | | | Commercial real estate lending | 5,110 | | | 6,367 | | | 82 | | | 5,425 | | | 204 | | | Total commercial | 68,820 | | | 104,833 | | | 12,111 | | | 72,991 | | | 2,186 | | | Residential mortgage | 35,554 | | | 37,087 | | | 2,740 | | | 34,683 | | | 1,229 | | | Home equity | 4,422 | | | 4,851 | | | 1,190 | | | 4,773 | | | 211 | | | Other consumer | 1,247 | | | 1,249 | | | 125 | | | 1,250 | | | 1 | | | Total consumer | 41,223 | | | 43,187 | | | 4,055 | | | 40,706 | | | 1,441 | | Total loans(a) | $ | 110,043 | | | $ | 148,020 | | | $ | 16,165 | | | $ | 113,697 | | | $ | 3,628 | |
|
| Nonaccrual and performing restructured loans |
The following table presents nonaccrual and performing restructured loans by loan portfolio: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2020 | | | | December 31, 2019 | | | | | | | | ($ in Thousands) | Performing
Restructured
Loans | | Nonaccrual Restructured Loans(a) | | Performing
Restructured
Loans | | Nonaccrual Restructured Loans(a) | | | | | | Commercial and industrial | $ | 16,056 | | | $ | 6,909 | | | $ | 16,678 | | | $ | 7,376 | | | | | | | Commercial real estate — owner occupied | 2,091 | | | — | | | 1,676 | | | — | | | | | | | Commercial real estate — investor | 281 | | | 570 | | | 293 | | | — | | | | | | | Real estate construction | 339 | | | 176 | | | 298 | | | 179 | | | | | | | Residential mortgage | 4,654 | | | 15,097 | | | 3,955 | | | 13,035 | | | | | | | Home equity | 1,719 | | | 1,451 | | | 1,896 | | | 1,904 | | | | | | | Other consumer | 1,245 | | | 1 | | | 1,246 | | | 1 | | | | | | Total restructured loans(b) | $ | 26,384 | | | $ | 24,204 | | | $ | 26,041 | | | $ | 22,494 | | | | | |
(a) Nonaccrual restructured loans have been included within nonaccrual loans. (b) Does not include any restructured loans related to COVID-19 in accordance with regulatory guidance.
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| Summary of restructured loans |
The following table provides the number of loans modified in a TDR by loan portfolio, the recorded investment and unpaid principal balance for the three months ended March 31, 2020 and 2019: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2020 | | | | | | Three Months Ended March 31, 2019 | | | | | | ($ in Thousands) | Number
of
Loans | | Recorded Investment(a) | | Unpaid Principal Balance(b) | | Number
of
Loans | | Recorded Investment(a) | | Unpaid Principal Balance(b) | | Commercial and industrial | 1 | | | $ | 48 | | | $ | 48 | | | — | | | $ | — | | | $ | — | | | Commercial real estate — owner occupied | 1 | | | 290 | | | 321 | | | 1 | | | 78 | | | 78 | | | Commercial real estate — investor | 1 | | | 570 | | | 1,740 | | | — | | | — | | | — | | | Real estate construction | 1 | | | 122 | | | 122 | | | — | | | — | | | — | | | Residential mortgage | 18 | | | 3,592 | | | 3,668 | | | 25 | | | 4,357 | | | 4,374 | | | Home equity | 8 | | | 277 | | | 277 | | | 13 | | | 293 | | | 312 | | | Other consumer | — | | | — | | | — | | | 1 | | | 11 | | | 11 | | | Total loans modified | 30 | | | $ | 4,899 | | | $ | 6,175 | | | 40 | | | $ | 4,739 | | | $ | 4,776 | |
(a) Represents post-modification outstanding recorded investment. (b) Represents pre-modification outstanding recorded investment.
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| Troubled debt restructurings subsequent redefault |
The following table provides the number of loans modified in a TDR during the previous twelve months which subsequently defaulted during the three months ended March 31, 2020 and 2019 and the recorded investment in these restructured loans as of March 31, 2020 and 2019: | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2020 | | | | Three Months Ended March 31, 2019 | | | | ($ in Thousands) | Number of
Loans | | Recorded
Investment | | Number of
Loans | | Recorded
Investment | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Residential mortgage | 3 | | | $ | 388 | | | 5 | | | $ | 613 | | | Home equity | 2 | | | 88 | | | 7 | | | 177 | | | | | | | | | | | Total loans modified | 5 | | | $ | 476 | | | 12 | | | $ | 790 | |
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| Changes in the allowance for loan losses by portfolio segment |
The following table presents a summary of the changes in the ACLL by portfolio segment for the three months ended March 31, 2020: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ($ in Thousands) | Dec. 31, 2019 | Cumulative effect of ASU 2016-13 adoption (CECL) | Jan. 1, 2020 | Charge offs | Recoveries | Net Charge offs | Allowance for PCD loans for bank acquisition | Provision recorded at acquisition | Provision for loan losses | March 31, 2020 | ACLL / Loans | | Allowance for loan losses | | | | | | | | | | | | | Commercial and industrial | $ | 91,133 | | $ | 52,919 | | $ | 144,052 | | $ | (16,336) | | $ | 1,288 | | $ | (15,049) | | $ | 293 | | $ | 408 | | $ | 44,284 | | $ | 173,988 | | | | Commercial real estate — owner occupied | 10,284 | | (1,851) | | 8,433 | | — | | — | | — | | 890 | | 255 | | 734 | | 10,313 | | | | Commercial and business lending | 101,417 | | 51,068 | | 152,485 | | (16,336) | | 1,288 | | (15,048) | | 1,183 | | 663 | | 45,018 | | 184,301 | | | | Commercial real estate — investor | 40,514 | | 2,041 | | 42,555 | | — | | — | | — | | 753 | | 472 | | (1,664) | | 42,115 | | | | Real estate construction | 24,915 | | 7,467 | | 32,382 | | (7) | | 19 | | 11 | | 435 | | 492 | | (2,573) | | 30,746 | | | | Commercial real estate lending | 65,428 | | 9,508 | | 74,937 | | (7) | | 19 | | 11 | | 1,188 | | 964 | | (4,237) | | 72,861 | | | | Total commercial | 166,846 | | 60,576 | | 227,422 | | (16,343) | | 1,307 | | (15,037) | | 2,371 | | 1,627 | | 40,781 | | 257,162 | | | | Residential mortgage | 16,960 | | 33,215 | | 50,175 | | (1,003) | | 91 | | (912) | | 651 | | 403 | | (6,370) | | 43,947 | | | | Home equity | 10,926 | | 11,649 | | 22,575 | | (526) | | 598 | | 71 | | 422 | | 374 | | (1,135) | | 22,308 | | | | Other consumer | 6,639 | | 7,016 | | 13,655 | | (1,434) | | 272 | | (1,162) | | 61 | | 140 | | 1,681 | | 14,376 | | | | Total consumer | 34,525 | | 51,880 | | 86,405 | | (2,963) | | 961 | | (2,003) | | 1,134 | | 917 | | (5,824) | | 80,631 | | | | Total loans | $ | 201,371 | | $ | 112,457 | | $ | 313,828 | | $ | (19,308) | | $ | 2,268 | | $ | (17,040) | | $ | 3,504 | | $ | 2,543 | | $ | 34,957 | | $ | 337,793 | | | | Allowance for unfunded commitments | | | | | | | | | | | | | Commercial and industrial | $ | 12,276 | | $ | (3,998) | | $ | 8,278 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 61 | | $ | 6,461 | | $ | 14,800 | | | | Commercial real estate — owner occupied | 127 | | — | | 127 | | — | | — | | — | | — | | 4 | | 109 | | 240 | | | | Commercial and business lending | 12,403 | | (3,998) | | 8,405 | | — | | — | | — | | — | | 65 | | 6,570 | | 15,040 | | | | Commercial real estate — investor | 530 | | 246 | | 776 | | — | | — | | — | | — | | 2 | | (347) | | 431 | | | | Real estate construction | 7,532 | | 18,347 | | 25,879 | | — | | — | | — | | — | | 45 | | 9,018 | | 34,942 | | | | Commercial real estate lending | 8,062 | | 18,593 | | 26,655 | | — | | — | | — | | — | | 47 | | 8,671 | | 35,373 | | | | Total commercial | 20,465 | | 14,595 | | 35,060 | | — | | — | | — | | — | | 112 | | 15,241 | | 50,413 | | | | | | | | | | | | | | | | Home equity | 1,038 | | 2,591 | | 3,629 | | — | | — | | — | | — | | 66 | | 241 | | 3,936 | | | | Other consumer | 405 | | 1,504 | | 1,909 | | — | | — | | — | | — | | — | | 17 | | 1,926 | | | | Total consumer | 1,443 | | 4,095 | | 5,538 | | — | | — | | — | | — | | 66 | | 258 | | 5,862 | | | | Total loans | $ | 21,907 | | $ | 18,690 | | $ | 40,597 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 179 | | $ | 15,500 | | $ | 56,276 | | | | Allowance for credit losses on loans | | | | | | | | | | | | | Commercial and industrial | $ | 103,409 | | $ | 48,921 | | $ | 152,330 | | $ | (16,336) | | $ | 1,288 | | $ | (15,049) | | $ | 293 | | $ | 469 | | $ | 50,745 | | $ | 188,788 | | 2.22 | % | | Commercial real estate — owner occupied | 10,411 | | (1,851) | | 8,560 | | — | | — | | — | | 890 | | 259 | | 843 | | 10,553 | | 1.12 | % | | Commercial and business lending | 113,820 | | 47,070 | | 160,890 | | (16,336) | | 1,288 | | (15,048) | | 1,183 | | 728 | | 51,588 | | 199,342 | | 2.11 | % | | Commercial real estate — investor | 41,044 | | 2,287 | | 43,331 | | — | | — | | — | | 753 | | 474 | | (2,011) | | 42,546 | | 1.05 | % | | Real estate construction | 32,447 | | 25,814 | | 58,261 | | (7) | | 19 | | 11 | | 435 | | 537 | | 6,445 | | 65,688 | | 4.25 | % | | Commercial real estate lending | 73,490 | | 28,101 | | 101,591 | | (7) | | 19 | | 11 | | 1,188 | | 1,011 | | 4,434 | | 108,235 | | 1.94 | % | | Total commercial | 187,311 | | 75,171 | | 262,482 | | (16,343) | | 1,307 | | (15,037) | | 2,371 | | 1,739 | | 56,022 | | 307,577 | | 2.04 | % | | Residential mortgage | 16,960 | | 33,215 | | 50,175 | | (1,003) | | 91 | | (912) | | 651 | | 403 | | (6,370) | | 43,947 | | 0.54 | % | | Home equity | 11,964 | | 14,240 | | 26,204 | | (526) | | 598 | | 71 | | 422 | | 440 | | (894) | | 26,244 | | 3.11 | % | | Other consumer | 7,044 | | 8,520 | | 15,564 | | (1,434) | | 272 | | (1,162) | | 61 | | 140 | | 1,698 | | 16,302 | | 4.70 | % | | Total consumer | 35,968 | | 55,975 | | 91,943 | | (2,963) | | 961 | | (2,003) | | 1,134 | | 983 | | (5,566) | | 86,493 | | 0.93 | % | | Total loans | $ | 223,278 | | $ | 131,147 | | $ | 354,425 | | $ | (19,308) | | $ | 2,268 | | $ | (17,040) | | $ | 3,504 | | $ | 2,722 | | $ | 50,457 | | $ | 394,069 | | 1.62 | % |
The following table presents details of the allowance for loan losses segregated by loan portfolio segment as of December 31, 2019, calculated in accordance with prior incurred loss methodology applicable under ASC Topic 310: | | | | | | | | | | | | | | | | | | | | | | ($ in Thousands) | December 31, 2018 | Charge offs | Recoveries | Net Charge offs | Provision for loan losses | December 31, 2019 | | Allowance for loan losses | | | | | | | | Commercial and industrial | $ | 108,835 | | $ | (63,315) | | $ | 11,875 | | $ | (51,441) | | $ | 33,738 | | $ | 91,133 | | | Commercial real estate — owner occupied | 9,255 | | (222) | | 2,795 | | 2,573 | | (1,543) | | 10,284 | | | Commercial and business lending | 118,090 | | (63,537) | | 14,670 | | (48,868) | | 32,195 | | 101,417 | | | Commercial real estate — investor | 40,844 | | — | | 31 | | 31 | | (361) | | 40,514 | | | Real estate construction | 28,240 | | (60) | | 302 | | 243 | | (3,568) | | 24,915 | | | Commercial real estate lending | 69,084 | | (60) | | 333 | | 274 | | (3,929) | | 65,429 | | | Total commercial | 187,174 | | (63,597) | | 15,003 | | (48,594) | | 28,266 | | 166,846 | | | Residential mortgage | 25,595 | | (3,322) | | 692 | | (2,630) | | (6,005) | | 16,960 | | | Home equity | 19,266 | | (1,846) | | 2,599 | | 753 | | (9,093) | | 10,926 | | | Other consumer | 5,988 | | (5,548) | | 868 | | (4,681) | | 5,332 | | 6,639 | | | Total consumer | 50,849 | | (10,716) | | 4,159 | | (6,558) | | (9,766) | | 34,525 | | | Total loans | $ | 238,023 | | $ | (74,313) | | $ | 19,161 | | $ | (55,152) | | $ | 18,500 | | $ | 201,371 | |
A summary of the individually and collectively evaluated loans by portfolio segment at December 31, 2019, was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Allowance for loan losses | | | | Loans | | | | | ($ in Thousands) | Individually evaluated for impairment | Collectively evaluated for impairment | Total allowance for loan losses | | Individually evaluated for impairment | Collectively evaluated for impairment | Acquired and accounted for under ASC 310-30(a) | Total loans | | Commercial and industrial | $ | 12,010 | | $ | 79,123 | | $ | 91,133 | | | $ | 62,035 | | $ | 7,292,217 | | $ | 342 | | $ | 7,354,594 | | | Commercial real estate — owner occupied | 19 | | 10,265 | | 10,284 | | | 1,676 | | 909,010 | | 579 | | 911,265 | | | Commercial and business lending | 12,029 | | 89,388 | | 101,417 | | | 63,711 | | 8,201,227 | | 921 | | 8,265,858 | | | Commercial real estate — investor | 15 | | 40,498 | | 40,514 | | | 4,633 | | 3,789,755 | | 129 | | 3,794,517 | | | Real estate construction | 67 | | 24,848 | | 24,915 | | | 477 | | 1,420,416 | | 7 | | 1,420,900 | | | Commercial real estate lending | 82 | | 65,346 | | 65,429 | | | 5,110 | | 5,210,171 | | 136 | | 5,215,417 | | | Total commercial | 12,111 | | 154,734 | | 166,846 | | | 68,821 | | 13,411,398 | | 1,057 | | 13,481,275 | | | Residential mortgage | 2,740 | | 14,220 | | 16,960 | | | 35,554 | | 8,100,958 | | 469 | | 8,136,980 | | | Home equity | 1,190 | | 9,737 | | 10,926 | | | 4,422 | | 847,577 | | 26 | | 852,025 | | | Other consumer | 125 | | 6,514 | | 6,639 | | | 1,247 | | 349,912 | | — | | 351,159 | | | Total consumer | 4,055 | | 30,471 | | 34,525 | | | 41,223 | | 9,298,447 | | 495 | | 9,340,164 | | | Total loans | $ | 16,165 | | $ | 185,205 | | $ | 201,371 | | | $ | 110,043 | | $ | 22,709,845 | | $ | 1,552 | | $ | 22,821,440 | |
(a) Loans acquired in business combinations and accounted for under ASC Subtopic 310-30 "Receivables — Loans and Debt Securities Acquired with Deteriorated Credit Quality."
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| Changes in the allowance for unfunded commitments |
The following table presents a summary of the changes in the allowance for unfunded commitments: | | | | | | | | | | | | | ($ in Thousands) | Three Months Ended March 31, 2020 | | Year Ended December 31, 2019 | | Allowance for Unfunded Commitments | | | | | Balance at beginning of period | $ | 21,907 | | | $ | 24,336 | | | Cumulative effect of ASU 2016-13 adoption (CECL) | 18,690 | | | N/A | | | Balance at beginning of period, adjusted | 40,597 | | | 24,336 | | | Provision for unfunded commitments | 15,500 | | | (2,500) | | | Amount recorded at acquisition | 179 | | | 70 | | | Balance at end of period | $ | 56,276 | | | $ | 21,907 | |
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