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Loans (Tables)
 12 Months Ended
Dec. 31, 2014
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of composition of loan portfolio by class of loan
The composition of the loan portfolio, by class of loan, as of December 31, 2014 and December 31, 2013 was as follows:

 
 
12/31/2014
 
 
12/31/2013
(In thousands)
 
Loan Balance
 
Accrued Interest Receivable
 
Recorded Investment
 
 
Loan Balance
 
Accrued Interest Receivable
 
Recorded Investment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural *
 
$
856,535

 
$
3,218

 
$
859,753

 
 
$
825,432

 
$
3,079

 
$
828,511

Commercial real estate *
 
1,069,637

 
3,546

 
1,073,183

 
 
1,112,273

 
3,765

 
1,116,038

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development *
 
2,195

 
—

 
2,195

 
 
5,846

 
2

 
5,848

Remaining commercial
 
115,139

 
300

 
115,439

 
 
110,842

 
263

 
111,105

Mortgage
 
31,148

 
72

 
31,220

 
 
31,882

 
96

 
31,978

Installment
 
7,322

 
23

 
7,345

 
 
7,546

 
26

 
7,572

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
417,612

 
1,038

 
418,650

 
 
407,387

 
904

 
408,291

Mortgage
 
1,189,709

 
1,548

 
1,191,257

 
 
1,144,754

 
1,559

 
1,146,313

HELOC
 
216,915

 
803

 
217,718

 
 
213,565

 
870

 
214,435

Installment
 
27,139

 
97

 
27,236

 
 
33,841

 
132

 
33,973

Consumer
 
893,160

 
2,967

 
896,127

 
 
723,733

 
2,775

 
726,508

Leases
 
3,171

 
17

 
3,188

 
 
3,404

 
23

 
3,427

Total loans
 
$
4,829,682

 
$
13,629

 
$
4,843,311

 
 
$
4,620,505

 
$
13,494

 
$
4,633,999

* Included within commercial, financial and agricultural loans, commercial real estate loans, and SEPH commercial land and development loans were an immaterial amount of consumer loans that were not broken out by class.
Schedule of recorded investment in nonaccrual restructured and loans past due 90 days or more and accruing
The following table presents the recorded investment in nonaccrual loans, accruing troubled debt restructurings, and loans past due 90 days or more and still accruing by class of loan as of December 31, 2014 and December 31, 2013:
 


12/31/2014
(In thousands)

Nonaccrual Loans

Accruing Troubled Debt Restructurings

Loans Past Due 90 Days or More and Accruing

Total Nonperforming Loans
Commercial, financial and agricultural

$
18,826


$
297


$
229


$
19,352

Commercial real estate

19,299


2,690


—


21,989

Construction real estate:












 SEPH commercial land and development

2,078


—


—


2,078

Remaining commercial

5,558


51


—


5,609

Mortgage

59


94


9


162

Installment

115


125


—


240

Residential real estate:












Commercial

24,336


594


—


24,930

Mortgage

21,869


10,349


1,329


33,547

HELOC

1,879


630


9


2,518

Installment

1,743


779


—


2,522

Consumer

4,631


723


1,133


6,487

Total loans

$
100,393


$
16,332


$
2,709


$
119,434


 
 
12/31/2013
(In thousands)
 
Nonaccrual Loans
 
Accruing Troubled Debt Restructurings
 
Loans Past Due 90 Days or More and Accruing
 
Total Nonperforming Loans
Commercial, financial and agricultural
 
$
20,633

 
$
107

 
$
80

 
$
20,820

Commercial real estate
 
39,588

 
2,234

 
2

 
41,824

Construction real estate:
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
4,777

 
—

 
—

 
4,777

Remaining commercial
 
10,476

 
306

 
—

 
10,782

Mortgage
 
87

 
97

 
—

 
184

Installment
 
39

 
192

 
—

 
231

Residential real estate:
 
 
 
 
 
 
 
 
Commercial
 
32,495

 
913

 
—

 
33,408

Mortgage
 
20,564

 
11,708

 
549

 
32,821

HELOC
 
2,129

 
751

 
—

 
2,880

Installment
 
965

 
885

 
80

 
1,930

Consumer
 
3,463

 
1,616

 
1,016

 
6,095

Total loans
 
$
135,216

 
$
18,809

 
$
1,727

 
$
155,752
Schedule of loans individually evaluated for impairment and loans collectively evaluated for impairment
The following table provides additional information regarding those nonaccrual and accruing troubled debt restructured loans that are individually evaluated for impairment and those collectively evaluated for impairment as of December 31, 2014 and December 31, 2013.
 
 
 
12/31/2014
 
 
12/31/2013
 
(In thousands)
 
Nonaccrual and accruing troubled debt restructurings
 
Loans individually evaluated for impairment
 
Loans collectively evaluated for impairment
 
 
Nonaccrual and accruing troubled debt restructurings
 
Loans individually evaluated for impairment
 
Loans collectively evaluated for impairment
Commercial, financial and agricultural
 
$
19,123

 
$
19,106

 
$
17

 
 
$
20,740

 
$
20,727

 
$
13

Commercial real estate
 
21,989

 
21,989

 
—

 
 
41,822

 
41,822

 
—

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
2,078

 
2,078

 
—

 
 
4,777

 
4,777

 
—

Remaining commercial
 
5,609

 
5,609

 
—

 
 
10,782

 
10,782

 
—

Mortgage
 
153

 
—

 
153

 
 
184

 
—

 
184

Installment
 
240

 
—

 
240

 
 
231

 
—

 
231

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
24,930

 
24,930

 
—

 
 
33,408

 
33,408

 
—

Mortgage
 
32,218

 
—

 
32,218

 
 
32,272

 
—

 
32,272

HELOC
 
2,509

 
—

 
2,509

 
 
2,880

 
—

 
2,880

Installment
 
2,522

 
—

 
2,522

 
 
1,850

 
—

 
1,850

Consumer
 
5,354

 
—

 
5,354

 
 
5,079

 
799

 
4,280

Total loans
 
$
116,725

 
$
73,712

 
$
43,013

 
 
$
154,025

 
$
112,315

 
$
41,710
Schedule of loans individually evaluated for impairment by class of loan
The following table presents loans individually evaluated for impairment by class of loan as of December 31, 2014 and December 31, 2013.
 


12/31/2014
 

12/31/2013
(In thousands)

Unpaid principal balance

Recorded investment

Allowance for loan losses allocated
 

Unpaid principal balance

Recorded investment

Allowance for loan losses allocated
With no related allowance recorded
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural

$
30,601


$
17,883


$
—

 

$
22,429


$
12,885


$
—

Commercial real estate

27,923


20,696


—

 

56,870


34,149


—

Construction real estate:









 

 
 
 
 
 
SEPH commercial land and development

11,026


2,078


—

 

23,722


4,777


—

Remaining commercial

1,427

 
391

 
—

 

8,429


6,872


—

Residential real estate:



 


 


 

 
 
 
 
 
Commercial

25,822

 
23,352

 
—

 

36,709


31,461


—

Consumer

—

 
—

 
—

 

799


799


—

With an allowance recorded

 
 
 
 
 
 

 
 
 
 
 
Commercial, financial and agricultural

1,251

 
1,223

 
981

 

12,616


7,842


3,268

Commercial real estate

1,310

 
1,293

 
262

 

7,966


7,673


5,496

Construction real estate:

 
 
 
 
 
 

 
 
 
 
 
Remaining commercial

5,218

 
5,218

 
1,812

 

3,909


3,910


1,132

Residential real estate:

 
 
 
 
 
 

 
 
 
 
 
Commercial

1,578

 
1,578

 
605

 

2,129


1,947


555

Consumer

—

 
—

 
—

 

—


—


—

Total

$
106,156


$
73,712


$
3,660

 

$
175,578


$
112,315


$
10,451
Schedule of average recorded investment and interest income recognized on loans individually evaluated for impairment
the years ended December 31, 2014, 2013, and 2012:
  
 
 
 
 
Year ended December 31, 2014
(In thousands)
 
Recorded Investment as of December 31, 2014
 
Average recorded investment
 
Interest income recognized
Commercial, financial and agricultural
 
$
19,106

 
$
19,518

 
$
360

Commercial real estate
 
21,989

 
31,945

 
1,027

Construction real estate:
 
 
 
 
 
 
SEPH commercial land and development
 
2,078

 
3,658

 
146

   Remaining commercial
 
5,609

 
8,784

 
61

Residential real estate:
 
 
 
 
 
 
   Commercial
 
24,930

 
28,306

 
1,084

Consumer
 
—

 
403

 
—

Total
 
$
73,712

 
$
92,614

 
$
2,678


 
 
 
 
 
Year ended December 31, 2013
(In thousands)
 
Recorded Investment as of December 31, 2013
 
Average recorded investment
 
Interest income recognized
 Commercial, financial and agricultural
 
$
20,727

 
$
20,523

 
$
412

 Commercial real estate
 
41,822

 
41,426

 
1,151

 Construction real estate:
 
 
 
 
 
 
SEPH commercial land and development
 
4,777

 
8,723

 
—

     Remaining commercial
 
10,782

 
17,829

 
616

 Residential real estate:
 
 
 
 
 
 
     Commercial
 
33,408

 
34,972

 
461

 Consumer
 
799

 
616

 
—

Total
 
$
112,315

 
$
124,089

 
$
2,640

 
 
 
 
Year ended
December 31, 2012
(In thousands)
 
Recorded Investment as of December 31, 2012
 
Average recorded investment
 
Interest income recognized
 Commercial, financial and agricultural
 
$
22,587

 
$
35,305

 
$
529

 Commercial real estate
 
44,278

 
44,541

 
968

 Construction real estate:
 
 
 
 
 
 
SEPH commercial land and development
 
13,260

 
17,277

 
—

     Remaining commercial
 
21,574

 
27,774

 
818

 Residential real estate:
 
 
 
 
 
 
     Commercial
 
35,622

 
39,248

 
497

 Consumer
 
18

 
19

 
1

Total
 
$
137,339

 
$
164,164

 
$
2,813
Schedule of aging of the recorded investment in past due loans
The following tables present the aging of the recorded investment in past due loans as of December 31, 2014 and December 31, 2013 by class of loan.

 
 
12/31/2014
(In thousands)
 
Accruing loans past due 30-89 days
 
Past due nonaccrual loans and loans past due 90 days or more and accruing *
 
Total past due
 
Total current
 
Total recorded investment
Commercial, financial and agricultural
 
$
6,482

 
$
7,508

 
$
13,990

 
$
845,763

 
$
859,753

Commercial real estate
 
808

 
8,288

 
9,096

 
1,064,087

 
1,073,183

Construction real estate:
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
2,068

 
2,068

 
127

 
2,195

Remaining commercial
 
166

 
77

 
243

 
115,196

 
115,439

Mortgage
 
39

 
68

 
107

 
31,113

 
31,220

Installment
 
21

 
25

 
46

 
7,299

 
7,345

Residential real estate:
 
 
 
 
 
 
 
 
 
 
Commercial
 
250

 
19,592

 
19,842

 
398,808

 
418,650

Mortgage
 
11,146

 
10,637

 
21,783

 
1,169,474

 
1,191,257

HELOC
 
262

 
387

 
649

 
217,069

 
217,718

Installment
 
596

 
464

 
1,060

 
26,176

 
27,236

Consumer
 
11,304

 
3,818

 
15,122

 
881,005

 
896,127

Leases
 
—

 
—

 
—

 
3,188

 
3,188

Total loans
 
$
31,074

 
$
52,932

 
$
84,006

 
$
4,759,305

 
$
4,843,311

* Includes $2.7 million of loans past due 90 days or more and accruing. The remaining are past due, nonaccrual loans.
 
 
12/31/2013
(In thousands)
 
Accruing loans past due 30-89 days
 
Past due nonaccrual loans and loans past due 90 days or more and accruing *
 
Total past due
 
Total current
 
Total recorded investment
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural
 
$
1,233

 
$
13,275

 
$
14,508

 
$
814,003

 
$
828,511

Commercial real estate
 
2,168

 
18,274

 
20,442

 
1,095,596

 
1,116,038

Construction real estate:
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
4,242

 
4,242

 
1,606

 
5,848

Remaining commercial
 
—

 
3,463

 
3,463

 
107,642

 
111,105

Mortgage
 
264

 
75

 
339

 
31,639

 
31,978

Installment
 
207

 
14

 
221

 
7,351

 
7,572

Residential real estate:
 
 
 
 
 
 
 
 
 
 
Commercial
 
900

 
5,659

 
6,559

 
401,732

 
408,291

Mortgage
 
13,633

 
11,829

 
25,462

 
1,120,851

 
1,146,313

HELOC
 
571

 
402

 
973

 
213,462

 
214,435

Installment
 
696

 
436

 
1,132

 
32,841

 
33,973

Consumer
 
12,143

 
3,941

 
16,084

 
710,424

 
726,508

Leases
 
—

 
—

 
—

 
3,427

 
3,427

Total loans
 
$
31,815

 
$
61,610

 
$
93,425

 
$
4,540,574

 
$
4,633,999
Schedule of recorded investment by loan grade
The tables below present the recorded investment by loan grade at December 31, 2014 and December 31, 2013 for all commercial loans:
 
 
 
12/31/2014
(In thousands)
 
5 Rated
 
6 Rated
 
Impaired
 
Pass Rated
 
Recorded Investment
Commercial, financial and agricultural*
 
$
1,874

 
$
1,201

 
$
19,123

 
$
837,555

 
$
859,753

Commercial real estate*
 
8,448

 
1,712

 
21,989

 
1,041,034

 
1,073,183

Construction real estate:
 
 
 
 
 
 
 
 
 
 
  SEPH commercial land and development*
 
—

 
—

 
2,078

 
117

 
2,195

  Remaining commercial
 
3,349

 
57

 
5,609

 
106,424

 
115,439

Residential real estate:
 
 
 
 
 
 
 
 
 
 
  Commercial
 
2,581

 
598

 
24,930

 
390,541

 
418,650

Leases
 
—

 
—

 
—

 
3,188

 
3,188

Total Commercial Loans
 
$
16,252

 
$
3,568

 
$
73,729

 
$
2,378,859

 
$
2,472,408


* Included within commercial, financial and agricultural loans, commercial real estate loans, and SEPH commercial land and development loans was an immaterial amount of consumer loans that were not broken out by class.

 
 
12/31/2013
(In thousands)
 
5 Rated
 
6 Rated
 
Impaired
 
Pass Rated
 
Recorded Investment
Commercial, financial and agricultural*
 
$
6,055

 
$
532

 
$
20,740

 
$
801,184

 
$
828,511

Commercial real estate*
 
11,591

 
1,525

 
41,822

 
1,061,100

 
1,116,038

Construction real estate:
 
 
 
 
 
 
 
 
 
 
  SEPH commercial land and development*
 
354

 
—

 
4,777

 
717

 
5,848

  Remaining commercial
 
6,858

 
244

 
10,782

 
93,221

 
111,105

Residential real estate:
 
 
 
 
 
 
 
 
 
 
  Commercial
 
5,033

 
397

 
33,408

 
369,453

 
408,291

Leases
 
—

 
—

 
—

 
3,427

 
3,427

Total Commercial Loans
 
$
29,891

 
$
2,698

 
$
111,529

 
$
2,329,102

 
$
2,473,220
Schedule of troubled debt restructurings on financing receivables
The following tables detail the number of contracts modified as TDRs during the years ended December 31, 2014 and 2013 as well as the recorded investment of these contracts at December 31, 2014 and 2013. The recorded investment pre- and post-modification is generally the same due to the fact that Park does not typically provide for forgiveness of principal.
 
 
Year ended
December 31, 2014
(In thousands)
 
Number of Contracts
 
Accruing
 
Nonaccrual
 
Recorded Investment
Commercial, financial and agricultural
 
30

 
$
292

 
$
431

 
$
723

Commercial real estate
 
11

 
1,184

 
1,254

 
2,438

Construction real estate:
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
—

 
—

 
—

Remaining commercial
 
2

 
—

 
206

 
206

Mortgage
 
—

 
—

 
—

 
—

Installment
 
2

 
—

 
56

 
56

Residential real estate:
 
 
 
 
 
 
 
 
Commercial
 
9

 
—

 
866

 
866

Mortgage
 
46

 
32

 
2,325

 
2,357

HELOC
 
10

 
85

 
241

 
326

Installment
 
10

 
109

 
12

 
121

Consumer
 
330

 
244

 
1,058

 
1,302

Total loans
 
450

 
$
1,946

 
$
6,449

 
$
8,395

 
 
Year ended
December 31, 2013
(In thousands)
 
Number of Contracts
 
Accruing
 
Nonaccrual
 
Recorded Investment
Commercial, financial and agricultural
 
34

 
$
7

 
$
1,334

 
$
1,341

Commercial real estate
 
22

 
—

 
8,563

 
8,563

Construction real estate:
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
—

 
—

 
—

Remaining commercial
 
3

 
—

 
98

 
98

Mortgage
 
—

 
—

 
—

 
—

Installment
 
4

 
26

 
25

 
51

Residential real estate:
 
 
 
 
 
 
 
 
Commercial
 
15

 
—

 
2,552

 
2,552

Mortgage
 
62

 
1,967

 
2,278

 
4,245

HELOC
 
16

 
175

 
—

 
175

Installment
 
13

 
113

 
179

 
292

Consumer
 
327

 
805

 
345

 
1,150

Total loans
 
496

 
$
3,093

 
$
15,374

 
$
18,467
Schedule recorded investment in financing receivables which were modified as troubled debt restructurings within the previous 12 months and for which there was a payment default during the 12 month
The following table presents the recorded investment in financing receivables which were modified as TDRs within the previous 12 months and for which there was a payment default during the year ended December 31, 2014 and December 31, 2013. For this table, a loan is considered to be in default when it becomes 30 days contractually past due under modified terms. The additional allowance for loan loss resulting from the defaults on TDR loans was immaterial.
 
 
 
Year ended
December 31, 2014
 
Year ended
December 31, 2013
(In thousands)
 
Number of Contracts
 
Recorded Investment
 
Number of Contracts
 
Recorded Investment
Commercial, financial and agricultural
 
4

 
$
206

 
11

 
$
771

Commercial real estate
 
1

 
302

 
11

 
2,839

Construction real estate:
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
—

 
—

 
—

Remaining commercial
 
—

 
—

 
—

 
—

Mortgage
 
—

 
—

 
—

 
—

Installment
 
—

 
—

 
1

 
10

Residential real estate:
 
 
 
 
 
 
 
 
Commercial
 
1

 
3

 
4

 
1,683

Mortgage
 
14

 
810

 
26

 
1,533

HELOC
 
2

 
160

 
—

 
—

Installment
 
2

 
12

 
5

 
72

Consumer
 
62

 
516

 
74

 
471

Leases
 
—

 
—

 
—

 
—

Total loans
 
86

 
$
2,009

 
$
132

 
$
7,379