XML 48 R30.htm IDEA: XBRL DOCUMENT v3.20.1
Allowance for Credit Losses and Credit Quality of Loans (Tables)
 3 Months Ended
Mar. 31, 2020
Allowance for Credit Losses and Credit Quality of Loans [Abstract]  
Allowance for Loan Losses by Portfolio
The following table presents the activity in the allowance for credit losses by portfolio segment for the quarter ended March 31, 2020:

(In thousands)
  
Commercial
Loans
    
Consumer
Loans
    
Residential
    
Total
  
Balance as of January 1, 2020 (after adoption of ASC 326)
  
$
27,156
    
$
32,122
    
$
16,721
    
$
75,999
  
Charge-offs
    
(1,020
)
    
(6,891
)
    
(315
)
    
(8,226
)
Recoveries
    
228
      
2,235
      
124
      
2,587
  
Provision
    
15,848
      
10,080
      
3,712
      
29,640
  
Ending Balance as of March 31, 2020
  
$
42,212
    
$
37,546
    
$
20,242
    
$
100,000
  

The following table illustrates the changes in the allowance for loan losses by our portfolio segments:

(In thousands)
  
Commercial
Loans
    
Consumer
Loans
    
Residential
Real Estate
    
Total
  
Balance as of December 31, 2018
  
$
32,759
    
$
37,178
    
$
2,568
    
$
72,505
  
Charge-offs
    
(747
)
    
(7,433
)
    
(274
)
    
(8,454
)
Recoveries
    
94
      
1,399
      
54
      
1,547
  
Provision
    
53
      
5,660
      
94
      
5,807
  
Ending Balance as of March 31, 2019
  
$
32,159
    
$
36,804
    
$
2,442
    
$
71,405
  

The following table illustrates the allowance for loan losses and the recorded investment by portfolio segments:

(In thousands)
  
Commercial
Loans
    
Consumer
Loans
    
Residential
Real Estate
    
Total
  
As of December 31, 2019
                        
Allowance for loan losses
  
$
34,525
    
$
35,647
    
$
2,793
    
$
72,965
  
Allowance for loans individually evaluated for impairment
    
-
      
-
      
-
      
-
  
Allowance for loans collectively evaluated for impairment
  
$
34,525
    
$
35,647
    
$
2,793
    
$
72,965
  
Ending balance of loans
  
$
3,444,266
    
$
2,246,676
    
$
1,445,156
    
$
7,136,098
  
Ending balance of originated loans individually evaluated for impairment
    
3,488
      
7,044
      
7,721
      
18,253
  
Ending balance of acquired loans collectively evaluated for impairment
    
115,266
      
23,733
      
125,879
      
264,878
  
Ending balance of originated loans collectively evaluated for impairment
  
$
3,325,512
    
$
2,215,899
    
$
1,311,556
    
$
6,852,967
  
Past due and Nonperforming Loans by Loan Class
The following table sets forth information with regard to past due and nonperforming loans by loan segment for the quarter ended March 31, 2020:

(In thousands)
  
31-60 Days
Past Due
Accruing
    
61-90 Days
Past Due
Accruing
    
Greater
Than
90 Days
Past Due
Accruing
    
Total Past
Due
Accruing
    
Nonaccrual
    
Current
    
Recorded Total
Loans
  
As of March 31, 2020
                                          
Commercial Loans:
                                          
Commercial & Industrial
  
$
2,273
    
$
564
    
$
-
    
$
2,837
    
$
7,176
    
$
1,109,027
    
$
1,119,040
  
Commercial Real Estate
    
5,954
      
305
      
-
      
6,259
      
9,256
      
2,326,295
      
2,341,810
  
Total Commercial Loans
  
$
8,227
    
$
869
    
$
-
    
$
9,096
    
$
16,432
    
$
3,435,322
    
$
3,460,850
  
Consumer Loans:
                                                        
Auto
  
$
11,107
    
$
1,952
    
$
819
    
$
13,878
    
$
2,513
    
$
1,134,651
    
$
1,151,042
  
Other Consumer
    
3,592
      
1,835
      
1,200
      
6,627
      
70
      
616,211
      
622,908
  
Total Consumer Loans
  
$
14,699
    
$
3,787
    
$
2,019
    
$
20,505
    
$
2,583
    
$
1,750,862
    
$
1,773,950
  
Residential
  
$
5,833
    
$
1,528
    
$
261
    
$
7,622
    
$
10,957
    
$
1,994,004
    
$
2,012,583
  
Total Loans
  
$
28,759
    
$
6,184
    
$
2,280
    
$
37,223
    
$
29,972
    
$
7,180,188
    
$
7,247,383
  

The following tables set forth information with regard to past due and nonperforming loans by loan class:

(In thousands)
  
31-60 Days
Past Due
Accruing
    
61-90 Days
Past Due
Accruing
    
Greater
Than
90 Days
Past Due
Accruing
    
Total
Past Due
Accruing
    
Nonaccrual
    
Current
    
Recorded Total
Loans
  
As of December 31, 2019
                                          
Originated
                                          
Commercial Loans:
                                          
C&I
  
$
1,227
    
$
-
    
$
-
    
$
1,227
    
$
1,177
    
$
838,502
    
$
840,906
  
CRE
    
3,576
      
-
      
-
      
3,576
      
4,847
      
1,941,143
      
1,949,566
  
Business Banking
    
794
      
162
      
-
      
956
      
7,035
      
530,537
      
538,528
  
Total Commercial Loans
  
$
5,597
    
$
162
    
$
-
    
$
5,759
    
$
13,059
    
$
3,310,182
    
$
3,329,000
  
Consumer Loans:
                                                        
Indirect Auto
  
$
11,860
    
$
2,108
    
$
1,005
    
$
14,973
    
$
2,175
    
$
1,176,487
    
$
1,193,635
  
Specialty Lending
    
3,153
      
2,087
      
1,307
      
6,547
      
-
      
535,516
      
542,063
  
Direct
    
2,564
      
564
      
478
      
3,606
      
2,475
      
481,164
      
487,245
  
Total Consumer Loans
  
$
17,577
    
$
4,759
    
$
2,790
    
$
25,126
    
$
4,650
    
$
2,193,167
    
$
2,222,943
  
Residential Real Estate
  
$
1,179
    
$
190
    
$
663
    
$
2,032
    
$
5,872
    
$
1,311,373
    
$
1,319,277
  
Total Originated Loans
  
$
24,353
    
$
5,111
    
$
3,453
    
$
32,917
    
$
23,581
    
$
6,814,722
    
$
6,871,220
  
                                                         
Acquired
                                                        
Commercial Loans:
                                                        
C&I
  
$
149
    
$
-
    
$
-
    
$
149
    
$
-
    
$
19,215
    
$
19,364
  
CRE
    
-
      
-
      
-
      
-
      
-
      
60,937
      
60,937
  
Business Banking
    
397
      
287
      
-
      
684
      
382
      
33,899
      
34,965
  
Total Commercial Loans
  
$
546
    
$
287
    
$
-
    
$
833
    
$
382
    
$
114,051
    
$
115,266
  
Consumer Loans:
                                                        
Direct
  
$
136
    
$
58
    
$
-
    
$
194
    
$
105
    
$
23,434
    
$
23,733
  
Total Consumer Loans
  
$
136
    
$
58
    
$
-
    
$
194
    
$
105
    
$
23,434
    
$
23,733
  
Residential Real Estate
  
$
575
    
$
20
    
$
264
    
$
859
    
$
1,106
    
$
123,914
    
$
125,879
  
Total Acquired Loans
  
$
1,257
    
$
365
    
$
264
    
$
1,886
    
$
1,593
    
$
261,399
    
$
264,878
  
                                                         
Total Loans
  
$
25,610
    
$
5,476
    
$
3,717
    
$
34,803
    
$
25,174
    
$
7,076,121
    
$
7,136,098
  
Financing Receivable Credit Quality by Loan Class
The following tables illustrate the Company’s credit quality by loan class by vintage as of March 31, 2020:

(In thousands)
  
2020
    
2019
    
2018
    
2017
    
2016
    
Prior
    
Revolving
Loans
Amortized
Cost Basis
    
Revolving
Loans
Converted
to Term
    
Total
  
                                                       
Commercial & Industrial
                                                      
By Internally Assigned Grade:
                                                      
Pass
  
$
87,313
    
$
245,200
    
$
121,720
    
$
63,276
    
$
49,619
    
$
49,841
    
$
408,302
    
$
22,633
    
$
1,047,904
  
Special Mention
    
-
      
4,881
      
3,654
      
3,286
      
3,299
      
2,379
      
18,803
      
-
      
36,302
  
Substandard
    
541
      
2,002
      
10,926
      
3,317
      
619
      
6,168
      
6,856
      
27
      
30,456
  
Doubtful
    
-
      
-
      
-
      
979
      
-
      
3,399
      
-
      
-
      
4,378
  
Total Commercial & Industrial
  
$
87,854
    
$
252,083
    
$
136,300
    
$
70,858
    
$
53,537
    
$
61,787
    
$
433,961
    
$
22,660
    
$
1,119,040
  
                                                                         
Commercial Real Estate
                                                                        
By Internally Assigned Grade:
                                                                        
Pass
  
$
130,895
    
$
458,228
    
$
288,204
    
$
392,223
    
$
275,496
    
$
551,128
    
$
98,679
    
$
24,003
    
$
2,218,856
  
Special Mention
    
398
      
2,635
      
7,427
      
3,493
      
1,745
      
35,625
      
675
      
8,920
      
60,918
  
Substandard
    
-
      
121
      
6,441
      
3,436
      
3,796
      
38,975
      
9,267
      
-
      
62,036
  
Total Commercial & Industrial
  
$
131,293
    
$
460,984
    
$
302,072
    
$
399,152
    
$
281,037
    
$
625,728
    
$
108,621
    
$
32,923
    
$
2,341,810
  
                                                                         
Auto
                                                                        
By Payment Activity:
                                                                        
Performing
  
$
112,417
    
$
411,824
    
$
291,092
    
$
196,440
    
$
92,378
    
$
43,534
    
$
25
    
$
-
    
$
1,147,710
  
Nonperforming
    
41
      
903
      
1,207
      
556
      
615
      
10
      
-
      
-
      
3,332
  
Total Auto
  
$
112,458
    
$
412,727
    
$
292,299
    
$
196,996
    
$
92,993
    
$
43,544
    
$
25
    
$
-
    
$
1,151,042
  
                                                                         
Other Consumer
                                                                        
By Payment Activity:
                                                                        
Performing
  
$
67,233
    
$
229,068
    
$
170,909
    
$
79,635
    
$
26,131
    
$
26,202
    
$
22,450
    
$
10
    
$
621,638
  
Nonperforming
    
-
      
387
      
384
      
284
      
64
      
137
      
13
      
2
      
1,270
  
Total Other Consumer
  
$
67,233
    
$
229,455
    
$
171,293
    
$
79,919
    
$
26,195
    
$
26,339
    
$
22,463
    
$
12
    
$
622,908
  
                                                                         
Residential
                                                                        
By Payment Activity:
                                                                        
Performing
  
$
39,592
    
$
223,715
    
$
225,817
    
$
196,901
    
$
182,269
    
$
798,850
    
$
272,782
    
$
61,439
    
$
2,001,365
  
Nonperforming
    
21
      
291
      
537
      
1,405
      
303
      
8,588
      
-
      
73
      
11,218
  
Total Residential
  
$
39,613
    
$
224,006
    
$
226,354
    
$
198,306
    
$
182,572
    
$
807,438
    
$
272,782
    
$
61,512
    
$
2,012,583
  
                                                                         
Total Loans
  
$
438,451
    
$
1,579,255
    
$
1,128,318
    
$
945,231
    
$
636,334
    
$
1,564,836
    
$
837,852
    
$
117,107
    
$
7,247,383
  

The following tables illustrate the Company’s credit quality by loan class:

(In thousands)
  
December 31, 2019
  
Originated
                  
Commercial Credit Exposure
By Internally Assigned Grade:
  
C&I
    
CRE
    
Total
  
Pass
  
$
782,763
    
$
1,868,678
    
$
2,651,441
  
Special Mention
    
28,380
      
30,519
      
58,899
  
Substandard
    
29,257
      
50,369
      
79,626
  
Total
  
$
840,906
    
$
1,949,566
    
$
2,790,472
  

Business Banking Credit Exposure
By Internally Assigned Grade:
  
Business
Banking
    
Total
  
Non-classified
  
$
524,725
    
$
524,725
  
Classified
    
13,803
      
13,803
  
Total
  
$
538,528
    
$
538,528
  

Consumer Credit Exposure
By Payment Activity:
  
Indirect
Auto
    
Specialty
Lending
    
Direct
    
Total
  
Performing
  
$
1,190,455
    
$
540,756
    
$
484,292
    
$
2,215,503
  
Nonperforming
    
3,180
      
1,307
      
2,953
      
7,440
  
Total
  
$
1,193,635
    
$
542,063
    
$
487,245
    
$
2,222,943
  

Residential Real Estate Credit Exposure
By Payment Activity:
  
Residential
Real Estate
    
Total
  
Performing
  
$
1,312,742
    
$
1,312,742
  
Nonperforming
    
6,535
      
6,535
  
Total
  
$
1,319,277
    
$
1,319,277
  

Acquired
                  
Commercial Credit Exposure
                  
By Internally Assigned Grade:
  
C&I
    
CRE
    
Total
  
Pass
  
$
17,801
    
$
60,545
    
$
78,346
  
Special Mention
    
1,269
      
-
      
1,269
  
Substandard
    
294
      
392
      
686
  
Total
  
$
19,364
    
$
60,937
    
$
80,301
  

Business Banking Credit Exposure
By Internally Assigned Grade:
  
Business
Banking
    
Total
  
Non-classified
  
$
32,030
    
$
32,030
  
Classified
    
2,935
      
2,935
  
Total
  
$
34,965
    
$
34,965
  

Consumer Credit Exposure
            
By Payment Activity:
  
Direct
    
Total
  
Performing
  
$
23,628
    
$
23,628
  
Nonperforming
    
105
      
105
  
Total
  
$
23,733
    
$
23,733
  

Residential Real Estate Credit Exposure
By Payment Activity:
  
Residential
Real Estate
    
Total
  
Performing
  
$
124,509
    
$
124,509
  
Nonperforming
    
1,370
      
1,370
  
Total
  
$
125,879
    
$
125,879
  
Troubled Debt Restructurings on Financing Receivables
The following tables illustrate the recorded investment and number of modifications designated as TDRs, including the recorded investment in the loans prior to a modification and the recorded investment in the loans after restructuring:

  
Three Months Ended March 31, 2020
  
(Dollars in thousands)
  
Number of Contracts
    
Pre-Modification
Outstanding Recorded
Investment
    
Post-Modification
Outstanding Recorded
Investment
  
Consumer Loans:
                  
Auto
    
1
    
$
44
    
$
44
  
Total Consumer Loans
    
1
    
$
44
    
$
44
  
Residential
    
7
    
$
691
    
$
735
  
Total Troubled Debt Restructurings
    
8
    
$
735
    
$
779
  

The following table illustrates the recorded investment and number of modifications for TDRs where a concession has been made and subsequently defaulted during the period:

  
Three Months Ended
March 31, 2020
  
(Dollars in thousands)
  
Number of
Contracts
    
Recorded
Investment
  
Commercial Loans:
            
Commercial & Industrial
    
1
    
$
387
  
Total Commercial Loans
    
1
    
$
387
  
Residential
    
16
    
$
803
  
Total Trouble Debt Restructurings
    
17
    
$
1,190
  

The following table illustrates the recorded investment and number of modifications for modified loans, including the recorded investment in the loans prior to a modification and the recorded investment in the loans after restructuring:

  
Three Months Ended
March 31, 2019
  
(Dollars in thousands)
  
Number of Contracts
    
Pre-Modification
Outstanding Recorded
Investment
    
Post-Modification
Outstanding Recorded
Investment
  
Commercial Loans:
                  
C&I
    
1
    
$
65
    
$
65
  
Business Banking
    
2
      
388
      
388
  
Total Commercial Loans
    
3
    
$
453
    
$
453
  
Consumer Loans:
                        
Indirect Auto
    
5
    
$
74
    
$
74
  
Direct
    
6
      
320
      
320
  
Total Consumer Loans
    
11
    
$
394
    
$
394
  
Residential Real Estate
    
6
    
$
388
    
$
405
  
Total Troubled Debt Restructurings
    
20
    
$
1,235
    
$
1,252
  

The following table illustrates the recorded investment and number of modifications for TDRs where a concession has been made and subsequently defaulted during the period:

  
Three Months Ended
March 31, 2019
  
(Dollars in thousands)
  
Number of
Contracts
    
Recorded
Investment
  
Consumer Loans:
            
Indirect Auto
    
2
    
$
17
  
Direct
    
10
      
600
  
Total Consumer Loans
    
12
    
$
617
  
Residential Real Estate
    
8
    
$
398
  
Total Troubled Debt Restructurings
    
20
    
$
1,015
  
Impaired Loans and Specific Reserve Allocations
The following table provides information on impaired loans specifically evaluated for impairment:

  
December 31, 2019
  
(In thousands)
  
Recorded Investment
Balance (Book)
    
Unpaid
Principal Balance (Legal)
    
Related
Allowance
  
Originated
                  
With no related allowance recorded:
                  
Commercial Loans:
                  
C&I
  
$
76
    
$
302
    
$
    
CRE
    
2,410
      
2,437
          
Business Banking
    
1,002
      
1,443
          
Total Commercial Loans
  
$
3,488
    
$
4,182
          
Consumer Loans:
                        
Indirect Auto
  
$
154
    
$
242
          
Direct
    
6,862
      
8,335
          
Specialty Lending
    
28
      
28
          
Total Consumer Loans
  
$
7,044
    
$
8,605
          
Residential Real Estate
  
$
7,721
    
$
9,754
          
Total loans with no related allowance
  
$
18,253
    
$
22,541
          
                         
Total Loans
  
$
18,253
    
$
22,541
    
$
-
  

The following table summarizes the average recorded investments on loans specifically evaluated for impairment and the interest income recognized:

  
For the Three Months Ended
  
   
March 31, 2019
  
(In thousands)
  
Average
Recorded
Investment
    
Interest Income
Recognized
  
Originated
            
Commercial Loans:
            
C&I
  
$
462
    
$
1
  
CRE
    
4,282
      
30
  
Business Banking
    
1,263
      
6
  
Total Commercial Loans
  
$
6,007
    
$
37
  
Consumer Loans:
                
Indirect Auto
  
$
173
    
$
2
  
Direct
    
7,716
      
98
  
Total Consumer Loans
  
$
7,889
    
$
100
  
Residential Real Estate
  
$
7,166
    
$
77
  
Total Originated
  
$
21,062
    
$
214
  
                 
Total Loans
  
$
21,062
    
$
214