XML 63 R42.htm IDEA: XBRL DOCUMENT v3.3.1.900
Loans (Tables)
 12 Months Ended
Dec. 31, 2015
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, 2015 and December 31, 2014 was as follows:

 
 
12/31/2015
 
 
12/31/2014
(In thousands)
 
Loan Balance
 
Accrued Interest Receivable
 
Recorded Investment
 
 
Loan Balance
 
Accrued Interest Receivable
 
Recorded Investment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural *
 
$
955,727

 
$
3,437

 
$
959,164

 
 
$
856,535

 
$
3,218

 
$
859,753

Commercial real estate *
 
1,113,603

 
4,009

 
1,117,612

 
 
1,069,637

 
3,546

 
1,073,183

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
2,044

 
—

 
2,044

 
 
2,195

 
—

 
2,195

Remaining commercial
 
128,046

 
321

 
128,367

 
 
115,139

 
300

 
115,439

Mortgage
 
36,722

 
75

 
36,797

 
 
31,148

 
72

 
31,220

Installment
 
6,533

 
21

 
6,554

 
 
7,322

 
23

 
7,345

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
410,571

 
1,014

 
411,585

 
 
417,612

 
1,038

 
418,650

Mortgage
 
1,210,819

 
1,469

 
1,212,288

 
 
1,189,709

 
1,548

 
1,191,257

HELOC
 
211,415

 
769

 
212,184

 
 
216,915

 
803

 
217,718

Installment
 
22,638

 
78

 
22,716

 
 
27,139

 
97

 
27,236

Consumer
 
967,111

 
3,032

 
970,143

 
 
893,160

 
2,967

 
896,127

Leases
 
2,856

 
14

 
2,870

 
 
3,171

 
17

 
3,188

Total loans
 
$
5,068,085

 
$
14,239

 
$
5,082,324

 
 
$
4,829,682

 
$
13,629

 
$
4,843,311

* Included within commercial, financial and agricultural loans and commercial real estate loans is 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 ("TDRs"), and loans past due 90 days or more and still accruing by class of loan as of December 31, 2015 and December 31, 2014:
 


12/31/2015
(In thousands)

Nonaccrual Loans

Accruing Troubled Debt Restructurings

Loans Past Due 90 Days or More and Accruing

Total Nonperforming Loans
Commercial, financial and agricultural

$
21,676


$
8,947


$
—


$
30,623

Commercial real estate

15,268


2,757


—


18,025

Construction real estate:












  SEPH commercial land and development

2,044


—


—


2,044

Remaining commercial

4,162


514


—


4,676

Mortgage

7


110


—


117

Installment

64


114


—


178

Residential real estate:












Commercial

25,063


261


—


25,324

Mortgage

20,378


10,143


851


31,372

HELOC

1,749


873


27


2,649

Installment

1,657


635


4


2,296

Consumer

3,819


734


1,093


5,646

Total loans

$
95,887


$
25,088


$
1,975


$
122,950


 
 
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
Schedule of loans individually evaluated for impairment and loans collectively evaluated for impairment
The following table provides additional information regarding those nonaccrual and accruing TDR loans that are individually evaluated for impairment and those collectively evaluated for impairment as of December 31, 2015 and December 31, 2014.
 
 
 
12/31/2015
 
 
12/31/2014
 
(In thousands)
 
Nonaccrual and accruing TDRs
 
Loans individually evaluated for impairment
 
Loans collectively evaluated for impairment
 
 
Nonaccrual and accruing TDRs
 
Loans individually evaluated for impairment
 
Loans collectively evaluated for impairment
Commercial, financial and agricultural
 
$
30,623

 
$
30,595

 
$
28

 
 
$
19,123

 
$
19,106

 
$
17

Commercial real estate
 
18,025

 
18,025

 
—

 
 
21,989

 
21,989

 
—

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
2,044

 
2,044

 
—

 
 
2,078

 
2,078

 
—

Remaining commercial
 
4,676

 
4,676

 
—

 
 
5,609

 
5,609

 
—

Mortgage
 
117

 
—

 
117

 
 
153

 
—

 
153

Installment
 
178

 
—

 
178

 
 
240

 
—

 
240

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
25,324

 
25,324

 
—

 
 
24,930

 
24,930

 
—

Mortgage
 
30,521

 
—

 
30,521

 
 
32,218

 
—

 
32,218

HELOC
 
2,622

 
—

 
2,622

 
 
2,509

 
—

 
2,509

Installment
 
2,292

 
—

 
2,292

 
 
2,522

 
—

 
2,522

Consumer
 
4,553

 
—

 
4,553

 
 
5,354

 
—

 
5,354

Total loans
 
$
120,975

 
$
80,664

 
$
40,311

 
 
$
116,725

 
$
73,712

 
$
43,013
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, 2015 and December 31, 2014.
 


12/31/2015
 

12/31/2014
(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

$
32,583


$
18,763


$
—

 

$
30,601


$
17,883


$
—

Commercial real estate

15,138


14,916


—

 

27,923


20,696


—

Construction real estate:









 

 
 
 
 
 
SEPH commercial land and development

10,834


2,044


—

 

11,026


2,078


—

Remaining commercial

2,506

 
1,531

 
—

 

1,427


391


—

Residential real estate:



 


 


 

 
 
 
 
 
Commercial

23,798

 
23,480

 
—

 

25,822


23,352


—

With an allowance recorded

 
 
 
 
 
 

 
 
 
 
 
Commercial, financial and agricultural

16,155

 
11,832

 
1,904

 

1,251


1,223


981

Commercial real estate

3,195

 
3,109

 
381

 

1,310


1,293


262

Construction real estate:

 
 
 
 
 
 

 
 
 
 
 
Remaining commercial

3,145

 
3,145

 
1,356

 

5,218


5,218


1,812

Residential real estate:

 
 
 
 
 
 

 
 
 
 
 
Commercial

1,951

 
1,844

 
550

 

1,578


1,578


605

Total

$
109,305


$
80,664


$
4,191

 

$
106,156


$
73,712


$
3,660
Schedule of average recorded investment and interest income recognized on loans individually evaluated for impairment
The following tables present the average recorded investment and interest income recognized subsequent to impairment on loans individually evaluated for impairment as of and for the years ended December 31, 2015, 2014, and 2013:
  
 
 
 
 
Year ended December 31, 2015
(In thousands)
 
Recorded Investment as of December 31, 2015
 
Average recorded investment
 
Interest income recognized
Commercial, financial and agricultural
 
$
30,595

 
$
20,179

 
$
340

Commercial real estate
 
18,025

 
17,883

 
550

Construction real estate:
 
 
 
 
 
 
SEPH commercial land and development
 
2,044

 
2,066

 
21

   Remaining commercial
 
4,676

 
5,666

 
26

Residential real estate:
 
 
 
 
 
 
   Commercial
 
25,324

 
24,968

 
1,026

Consumer
 
—

 
—

 
—

Total
 
$
80,664

 
$
70,762

 
$
1,963


 
 
 
 
 
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
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, 2015 and December 31, 2014 by class of loan.

 
 
12/31/2015
(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
 
$
670

 
$
7,536

 
$
8,206

 
$
950,958

 
$
959,164

Commercial real estate
 
142

 
530

 
672

 
1,116,940

 
1,117,612

Construction real estate:
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
2,044

 
2,044

 
—

 
2,044

Remaining commercial
 
165

 
84

 
249

 
128,118

 
128,367

Mortgage
 
63

 
7

 
70

 
36,727

 
36,797

Installment
 
200

 
46

 
246

 
6,308

 
6,554

Residential real estate:
 
 
 
 
 
 
 
 
 
 
Commercial
 
325

 
19,521

 
19,846

 
391,739

 
411,585

Mortgage
 
10,569

 
8,735

 
19,304

 
1,192,984

 
1,212,288

HELOC
 
487

 
186

 
673

 
211,511

 
212,184

Installment
 
426

 
318

 
744

 
21,972

 
22,716

Consumer
 
11,458

 
3,376

 
14,834

 
955,309

 
970,143

Leases
 
—

 
—

 
—

 
2,870

 
2,870

Total loans
 
$
24,505

 
$
42,383

 
$
66,888

 
$
5,015,436

 
$
5,082,324

* Includes $2.0 million of loans past due 90 days or more and accruing. The remaining are past due, nonaccrual loans.
 
 
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
Schedule of recorded investment by loan grade
The tables below present the recorded investment by loan grade at December 31, 2015 and December 31, 2014 for all commercial loans:
 
 
 
12/31/2015
(In thousands)
 
5 Rated
 
6 Rated
 
Impaired
 
Pass Rated
 
Recorded Investment
Commercial, financial and agricultural*
 
$
4,392

 
$
347

 
$
30,623

 
$
923,802

 
$
959,164

Commercial real estate*
 
14,880

 
3,417

 
18,025

 
1,081,290

 
1,117,612

Construction real estate:
 
 
 
 
 
 
 
 
 
 
  SEPH commercial land and development
 
—

 
—

 
2,044

 
—

 
2,044

  Remaining commercial
 
2,151

 
122

 
4,676

 
121,418

 
128,367

Residential real estate:
 
 
 
 
 
 
 
 
 
 
  Commercial
 
3,280

 
386

 
25,324

 
382,595

 
411,585

Leases
 
—

 
—

 
—

 
2,870

 
2,870

Total Commercial Loans
 
$
24,703

 
$
4,272

 
$
80,692

 
$
2,511,975

 
$
2,621,642


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

 
 
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
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, 2015, 2014 and 2013 as well as the recorded investment of these contracts at December 31, 2015, 2014, and 2013. The recorded investment pre- and post-modification is generally the same due to the fact that Park does not typically forgive principal.
 
 
Year ended
December 31, 2015
(In thousands)
 
Number of Contracts
 
Accruing
 
Nonaccrual
 
Recorded Investment
Commercial, financial and agricultural
 
39

 
$
8,948

 
$
3,640

 
$
12,588

Commercial real estate
 
14

 
637

 
3,523

 
4,160

Construction real estate:
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
—

 
—

 
—

Remaining commercial
 
2

 
513

 
—

 
513

Mortgage
 
1

 
19

 
—

 
19

Installment
 
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
 
Commercial
 
11

 
—

 
1,185

 
1,185

Mortgage
 
39

 
1,132

 
2,122

 
3,254

HELOC
 
26

 
315

 
45

 
360

Installment
 
9

 
—

 
155

 
155

Consumer
 
283

 
202

 
888

 
1,090

Total loans
 
424

 
$
11,766

 
$
11,558

 
$
23,324

 
 
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, 2015, 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, 2015
 
Year ended
December 31, 2014
 
Year ended
December 31, 2013
(In thousands)
 
Number of Contracts
 
Recorded Investment
 
Number of Contracts
 
Recorded Investment
 
Number of Contracts
 
Recorded Investment
Commercial, financial and agricultural
 
1

 
$
1

 
4

 
$
206

 
11

 
$
771

Commercial real estate
 
1

 
626

 
1

 
302

 
11

 
2,839

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
—

 
—

 
—

 
—

 
—

Remaining commercial
 
—

 
—

 
—

 
—

 
—

 
—

Mortgage
 
—

 
—

 
—

 
—

 
—

 
—

Installment
 
—

 
—

 
—

 
—

 
1

 
10

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
3

 
1,005

 
1

 
3

 
4

 
1,683

Mortgage
 
12

 
682

 
14

 
810

 
26

 
1,533

HELOC
 
1

 
5

 
2

 
160

 
—

 
—

Installment
 
2

 
101

 
2

 
12

 
5

 
72

Consumer
 
47

 
434

 
62

 
516

 
74

 
471

Leases
 
—

 
—

 
—

 
—

 
—

 
—

Total loans
 
67

 
$
2,854

 
$
86

 
$
2,009

 
132

 
$
7,379