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Loans (Tables)
 3 Months Ended
Mar. 31, 2016
Loans and Leases Receivable Disclosure [Abstract]  
Composition Of Loan Portfolio By Class Of Loan
The composition of the loan portfolio, by class of loan, as of March 31, 2016 and December 31, 2015 was as follows:
 
 
March 31, 2016
 
 
December 31, 2015
(In thousands)
Loan
Balance
 
Accrued
Interest
Receivable
 
Recorded
Investment
 
 
Loan
Balance
 
Accrued
Interest
Receivable
 
Recorded
Investment
Commercial, financial and agricultural *
$
941,481

 
$
3,592

 
$
945,073

 
 
$
955,727

 
$
3,437

 
$
959,164

Commercial real estate *
1,114,626

 
3,652

 
1,118,278

 
 
1,113,603

 
4,009

 
1,117,612

Construction real estate:
 

 
 

 
 

 
 
 

 
 

 
 

SEPH commercial land and development
2,043

 
—

 
2,043

 
 
2,044

 
—

 
2,044

Remaining commercial
129,167

 
321

 
129,488

 
 
128,046

 
321

 
128,367

Mortgage
37,295

 
74

 
37,369

 
 
36,722

 
75

 
36,797

Installment
5,941

 
20

 
5,961

 
 
6,533

 
21

 
6,554

Residential real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
411,314

 
1,007

 
412,321

 
 
410,571

 
1,014

 
411,585

Mortgage
1,207,396

 
1,733

 
1,209,129

 
 
1,210,819

 
1,469

 
1,212,288

HELOC
209,260

 
784

 
210,044

 
 
211,415

 
769

 
212,184

Installment
21,734

 
82

 
21,816

 
 
22,638

 
78

 
22,716

Consumer
979,111

 
2,896

 
982,007

 
 
967,111

 
3,032

 
970,143

Leases
2,817

 
39

 
2,856

 
 
2,856

 
14

 
2,870

Total loans
$
5,062,185

 
$
14,200

 
$
5,076,385

 
 
$
5,068,085

 
$
14,239

 
$
5,082,324

* Included within commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class.
Recorded Investment In Nonaccrual Restructured And Loans Past Due 90 Days Or More And Accruing
The following tables present 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 March 31, 2016 and December 31, 2015:
 
 
 
March 31, 2016
(In thousands)
 
Nonaccrual
Loans
 
Accruing Troubled Debt Restructurings
 
Loans Past Due
90 Days or More
and Accruing
 
Total
Nonperforming
Loans
Commercial, financial and agricultural
 
$
27,813

 
$
797

 
$
8

 
$
28,618

Commercial real estate
 
16,556

 
1,512

 
—

 
18,068

Construction real estate:
 
 

 
 

 
 

 
 

SEPH commercial land and development
 
2,043

 
—

 
—

 
2,043

Remaining commercial
 
4,336

 
509

 
—

 
4,845

Mortgage
 
6

 
108

 
—

 
114

Installment
 
21

 
108

 
—

 
129

Residential real estate:
 
 

 
 

 
 

 
 

Commercial
 
24,365

 
254

 
—

 
24,619

Mortgage
 
20,889

 
9,691

 
536

 
31,116

HELOC
 
1,653

 
829

 
8

 
2,490

Installment
 
1,445

 
608

 
—

 
2,053

Consumer
 
3,498

 
678

 
818

 
4,994

Total loans
 
$
102,625

 
$
15,094

 
$
1,370

 
$
119,089

 
 
 
December 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
Loans Individually And Collectively Evaluated For Impairment
The following table provides additional information regarding those nonaccrual loans and accruing TDR loans that were individually evaluated for impairment and those collectively evaluated for impairment as of March 31, 2016 and December 31, 2015.

 
 
March 31, 2016
 
 
December 31, 2015
(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
 
$
28,610

 
$
28,596

 
$
14

 
 
$
30,623

 
$
30,595

 
$
28

Commercial real estate
 
18,068

 
18,068

 
—

 
 
18,025

 
18,025

 
—

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

SEPH commercial land and development
 
2,043

 
2,043

 
—

 
 
2,044

 
2,044

 
—

Remaining commercial
 
4,845

 
4,845

 
—

 
 
4,676

 
4,676

 
—

Mortgage
 
114

 
—

 
114

 
 
117

 
—

 
117

Installment
 
129

 
—

 
129

 
 
178

 
—

 
178

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
24,619

 
24,619

 
—

 
 
25,324

 
25,324

 
—

Mortgage
 
30,580

 
—

 
30,580

 
 
30,521

 
—

 
30,521

HELOC
 
2,482

 
—

 
2,482

 
 
2,622

 
—

 
2,622

Installment
 
2,053

 
—

 
2,053

 
 
2,292

 
—

 
2,292

Consumer
 
4,176

 
—

 
4,176

 
 
4,553

 
—

 
4,553

Total loans
 
$
117,719

 
$
78,171

 
$
39,548

 
 
$
120,975

 
$
80,664

 
$
40,311
Loans Individually Evaluated For Impairment By Class Of Loans
The following table presents loans individually evaluated for impairment by class of loan, together with the related allowance recorded, as of March 31, 2016 and December 31, 2015.
 
 
 
March 31, 2016
 
 
December 31, 2015
(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
 
$
37,013

 
$
23,192

 
$
—

 
 
$
32,583

 
$
18,763

 
$
—

Commercial real estate
 
15,369

 
15,148

 
—

 
 
15,138

 
14,916

 
—

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

SEPH commercial land and development
 
10,832

 
2,043

 
—

 
 
10,834

 
2,044

 
—

Remaining commercial
 
2,474

 
1,497

 
—

 
 
2,506

 
1,531

 
—

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
22,932

 
22,806

 
—

 
 
23,798

 
23,480

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
With an allowance recorded:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial, financial and agricultural
 
9,496

 
5,404

 
2,471

 
 
16,155

 
11,832

 
1,904

Commercial real estate
 
2,920

 
2,920

 
593

 
 
3,195

 
3,109

 
381

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Remaining commercial
 
3,348

 
3,348

 
1,456

 
 
3,145

 
3,145

 
1,356

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
2,155

 
1,813

 
410

 
 
1,951

 
1,844

 
550

Total
 
$
106,539

 
$
78,171

 
$
4,930

 
 
$
109,305

 
$
80,664

 
$
4,191
Average Recorded Investment And Interest Income Recognized On Loans Individually Evaluated For Impairment
The following table presents the average recorded investment and interest income recognized subsequent to impairment on loans individually evaluated for impairment as of and for the three months ended March 31, 2016 and March 31, 2015:

 
Three Months Ended
March 31, 2016
 
 
Three Months Ended
March 31, 2015
(In thousands)
Recorded Investment as of March 31, 2016
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
 
Recorded Investment as of March 31, 2015
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial and agricultural
$
28,596

 
$
29,858

 
$
238

 
 
$
20,571

 
$
19,876

 
$
131

Commercial real estate
18,068

 
17,100

 
180

 
 
16,900

 
18,977

 
163

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   SEPH commercial land and development
2,043

 
2,043

 
—

 
 
2,077

 
2,077

 
8

   Remaining commercial
4,845

 
4,771

 
13

 
 
5,725

 
5,697

 
5

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
24,619

 
24,897

 
1,965

 
 
25,219

 
25,373

 
255

Total
$
78,171

 
$
78,669

 
$
2,396

 
 
$
70,492

 
$
72,000

 
$
562
Aging Of Recorded Investment In Past Due Loans
The following tables present the aging of the recorded investment in past due loans as of March 31, 2016 and December 31, 2015 by class of loan.
 
 
March 31, 2016
(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
$
177

 
$
7,926

 
$
8,103

 
$
936,970

 
$
945,073

Commercial real estate
570

 
1,853

 
2,423

 
1,115,855

 
1,118,278

Construction real estate:
 

 
 

 
 

 
 

 
 

SEPH commercial land and development
—

 
2,043

 
2,043

 
—

 
2,043

Remaining commercial
—

 
139

 
139

 
129,349

 
129,488

Mortgage
52

 
—

 
52

 
37,317

 
37,369

Installment
158

 
18

 
176

 
5,785

 
5,961

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
498

 
10,296

 
10,794

 
401,527

 
412,321

Mortgage
10,369

 
9,857

 
20,226

 
1,188,903

 
1,209,129

HELOC
521

 
669

 
1,190

 
208,854

 
210,044

Installment
292

 
181

 
473

 
21,343

 
21,816

Consumer
7,352

 
2,641

 
9,993

 
972,014

 
982,007

Leases
—

 
—

 
—

 
2,856

 
2,856

Total loans
$
19,989

 
$
35,623

 
$
55,612

 
$
5,020,773

 
$
5,076,385


* Includes $1.4 million of loans past due 90 days or more and accruing. The remaining are past due nonaccrual loans.
 
 
December 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.
Recorded Investment By Loan Grade
The tables below present the recorded investment by loan grade at March 31, 2016 and December 31, 2015 for all commercial loans:
 
 
March 31, 2016
(In thousands)
5 Rated
 
6 Rated
 
Impaired
 
Pass-Rated
 
Recorded
Investment
Commercial, financial and agricultural *
$
4,685

 
$
272

 
$
28,610

 
$
911,506

 
$
945,073

Commercial real estate *
14,156

 
3,052

 
18,068

 
1,083,002

 
1,118,278

Construction real estate:
 

 
 

 
 

 
 

 
 

SEPH commercial land and development
—

 
—

 
2,043

 
—

 
2,043

Remaining commercial
1,820

 
121

 
4,845

 
122,702

 
129,488

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
2,438

 
1,483

 
24,619

 
383,781

 
412,321

Leases
—

 
—

 
—

 
2,856

 
2,856

Total commercial loans
$
23,099

 
$
4,928

 
$
78,185

 
$
2,503,847

 
$
2,610,059

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

 
December 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
TDR Number Of Contracts Modified And Recorded Investment
The following tables detail the number of contracts modified as TDRs during the three-month periods ended March 31, 2016 and 2015, as well as the recorded investment of these contracts at March 31, 2016 and 2015. 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.

 
Three Months Ended
March 31, 2016
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
7

 
$
131

 
$
716

 
$
847

Commercial real estate
—

 
—

 
—

 
—

Construction real estate:
 
 
 
 
 
 
 
  SEPH commercial land and development
—

 
—

 
—

 
—

  Remaining commercial
—

 
—

 
—

 
—

  Mortgage
—

 
—

 
—

 
—

  Installment
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
  Commercial
2

 
—

 
617

 
617

  Mortgage
5

 
99

 
217

 
316

  HELOC
6

 
64

 
122

 
186

  Installment
—

 
—

 
—

 
—

Consumer
64

 
52

 
511

 
563

Total loans
84

 
$
346

 
$
2,183

 
$
2,529


 
Three Months Ended
March 31, 2015
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
13

 
$
398

 
$
597

 
$
995

Commercial real estate
6

 
—

 
1,314

 
1,314

Construction real estate:
 
 
 
 
 
 
 
  SEPH commercial land and development
—

 
—

 
—

 
—

  Remaining commercial
—

 
—

 
—

 
—

  Mortgage
1

 
—

 
21

 
21

  Installment
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
  Commercial
3

 
—

 
513

 
513

  Mortgage
7

 
328

 
206

 
534

  HELOC
10

 
193

 
108

 
301

  Installment
—

 
—

 
—

 
—

Consumer
66

 
29

 
463

 
492

Total loans
106

 
$
948

 
$
3,222

 
$
4,170


Of those loans which were modified and determined to be a TDR during the three-month period ended March 31, 2016, $922,000 were on nonaccrual status as of December 31, 2015. Of those loans which were modified and determined to be a TDR during the three-month period ended March 31, 2015, $1.1 million were on nonaccrual status as of December 31, 2014.
Recorded Investment In Financing Receivable Modified As TDR Within 12 Months
The following tables present 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 three-month periods ended March 31, 2016 and 2015, respectively. For these tables, a loan is considered to be in default when it becomes 30 days contractually past due under the modified terms. The additional allowance for loan loss resulting from the defaults on TDR loans was immaterial.
 
 
Three Months Ended
March 31, 2016
 
 
Three Months Ended
March 31, 2015
 
(In thousands)
Number of
Contracts
 
Recorded
Investment
 
 
Number of
Contracts
 
Recorded
Investment
 
Commercial, financial and agricultural
1

 
$
1

 
 
3

 
$
70

 
Commercial real estate
—

 
—

 
 
—

 
—

 
Construction real estate:
 

 
 

 
 
 
 
 
 
SEPH commercial land and development
—

 
—

 
 
—

 
—

 
Remaining commercial
—

 
—

 
 
—

 
—

 
Mortgage
—

 
—

 
 
—

 
—

 
Installment
—

 
—

 
 
—

 
—

 
Residential real estate:
 

 
 

 
 
 
 
 
 
Commercial
1

 
90

 
 
—

 
—

 
Mortgage
8

 
516

 
 
13

 
689

 
HELOC
—

 
—

 
 
—

 
—

 
Installment
1

 
25

 
 
1

 
8

 
Consumer
44

 
463

 
 
47

 
349

 
Leases
—

 
—

 
 
—

 
—

 
Total loans
55

 
$
1,095

 
 
64

 
$
1,116