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Loans (Tables)
 12 Months Ended
Dec. 31, 2016
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, 2016 and December 31, 2015 was as follows:

 
 
12/31/2016
 
 
12/31/2015
(In thousands)
 
Loan Balance
 
Accrued Interest Receivable
 
Recorded Investment
 
 
Loan Balance
 
Accrued Interest Receivable
 
Recorded Investment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural *
 
$
994,619

 
$
3,558

 
$
998,177

 
 
$
955,727

 
$
3,437

 
$
959,164

Commercial real estate *
 
1,155,703

 
4,161

 
1,159,864

 
 
1,113,603

 
4,009

 
1,117,612

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
—

 
—

 
 
2,044

 
—

 
2,044

Remaining commercial
 
135,343

 
398

 
135,741

 
 
128,046

 
321

 
128,367

Mortgage
 
48,699

 
106

 
48,805

 
 
36,722

 
75

 
36,797

Installment
 
4,903

 
17

 
4,920

 
 
6,533

 
21

 
6,554

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
406,687

 
940

 
407,627

 
 
410,571

 
1,014

 
411,585

Mortgage
 
1,169,495

 
1,459

 
1,170,954

 
 
1,210,819

 
1,469

 
1,212,288

HELOC
 
212,441

 
853

 
213,294

 
 
211,415

 
769

 
212,184

Installment
 
19,874

 
67

 
19,941

 
 
22,638

 
78

 
22,716

Consumer
 
1,120,850

 
3,385

 
1,124,235

 
 
967,111

 
3,032

 
970,143

Leases
 
3,243

 
29

 
3,272

 
 
2,856

 
14

 
2,870

Total loans
 
$
5,271,857

 
$
14,973

 
$
5,286,830

 
 
$
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 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, 2016 and December 31, 2015:
 


12/31/2016
(In thousands)

Nonaccrual Loans

Accruing Troubled Debt Restructurings

Loans Past Due 90 Days or More and Accruing

Total Nonperforming Loans
Commercial, financial and agricultural

$
20,057


$
600


$
15


$
20,672

Commercial real estate

19,169


5,305


—


24,474

Construction real estate:












  SEPH commercial land and development

—


—


—


—

Remaining commercial

1,833


393


—


2,226

Mortgage

—


104


—


104

Installment

61


95


12


168

Residential real estate:












Commercial

23,013


89


—


23,102

Mortgage

18,313


9,612


887


28,812

HELOC

1,783


673


25


2,481

Installment

644


609


60


1,313

Consumer

2,949


748


1,139


4,836

Total loans

$
87,822


$
18,228


$
2,138


$
108,188


 
 
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
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, 2016 and December 31, 2015.
 
 
 
12/31/2016
 
 
12/31/2015
 
(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
 
$
20,657

 
$
20,624

 
$
33

 
 
$
30,623

 
$
30,595

 
$
28

Commercial real estate
 
24,474

 
24,474

 
—

 
 
18,025

 
18,025

 
—

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
—

 
—

 
 
2,044

 
2,044

 
—

Remaining commercial
 
2,226

 
2,226

 
—

 
 
4,676

 
4,676

 
—

Mortgage
 
104

 
—

 
104

 
 
117

 
—

 
117

Installment
 
156

 
—

 
156

 
 
178

 
—

 
178

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
23,102

 
23,102

 
—

 
 
25,324

 
25,324

 
—

Mortgage
 
27,925

 
—

 
27,925

 
 
30,521

 
—

 
30,521

HELOC
 
2,456

 
—

 
2,456

 
 
2,622

 
—

 
2,622

Installment
 
1,253

 
—

 
1,253

 
 
2,292

 
—

 
2,292

Consumer
 
3,697

 
—

 
3,697

 
 
4,553

 
—

 
4,553

Total loans
 
$
106,050

 
$
70,426

 
$
35,624

 
 
$
120,975

 
$
80,664

 
$
40,311
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, 2016 and December 31, 2015.
 


12/31/2016
 

12/31/2015
(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

$
41,075


$
19,965


$
—

 

$
32,583


$
18,763


$
—

Commercial real estate

23,961


23,474


—

 

15,138


14,916


—

Construction real estate:









 

 
 
 
 
 
SEPH commercial land and development

—


—


—

 

10,834


2,044


—

Remaining commercial

3,662

 
2,226

 
—

 

2,506


1,531


—

Residential real estate:



 


 


 

 
 
 
 
 
Commercial

24,409

 
22,687

 
—

 

23,798


23,480


—

With an allowance recorded

 
 
 
 
 
 

 
 
 
 
 
Commercial, financial and agricultural

810

 
659

 
152

 

16,155


11,832


1,904

Commercial real estate

1,014

 
1,000

 
309

 

3,195


3,109


381

Construction real estate:

 
 
 
 
 
 

 
 
 
 
 
Remaining commercial

—

 
—

 
—

 

3,145


3,145


1,356

Residential real estate:

 
 
 
 
 
 

 
 
 
 
 
Commercial

427

 
415

 
87

 

1,951


1,844


550

Total

$
95,358


$
70,426


$
548

 

$
109,305


$
80,664


$
4,191
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 during the year subsequent to impairment on loans individually evaluated for impairment as of and for the years ended December 31, 2016, 2015, and 2014:
  
 
 
 
 
Year ended December 31, 2016
(In thousands)
 
Recorded Investment as of December 31, 2016
 
Average recorded investment
 
Interest income recognized
Commercial, financial and agricultural
 
$
20,624

 
$
26,821

 
$
885

Commercial real estate
 
24,474

 
22,828

 
884

Construction real estate:
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
1,597

 
—

   Remaining commercial
 
2,226

 
3,906

 
66

Residential real estate:
 
 
 
 
 
 
   Commercial
 
23,102

 
24,341

 
2,942

Consumer
 
—

 
3

 
—

Total
 
$
70,426

 
$
79,496

 
$
4,777



 
 
 
 
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
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, 2016 and December 31, 2015 by class of loan.

 
 
12/31/2016
(In thousands)
 
Accruing loans past due 30-89 days
 
Past due, nonaccrual loans and loans past due 90 days or more and accruing (1)
 
Total past due
 
Total current (2)
 
Total recorded investment
Commercial, financial and agricultural
 
$
371

 
$
4,113

 
$
4,484

 
$
993,693

 
$
998,177

Commercial real estate
 
355

 
2,499

 
2,854

 
1,157,010

 
1,159,864

Construction real estate:
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
—

 
—

 
—

 
—

Remaining commercial
 
—

 
541

 
541

 
135,200

 
135,741

Mortgage
 
559

 
—

 
559

 
48,246

 
48,805

Installment
 
223

 
64

 
287

 
4,633

 
4,920

Residential real estate:
 
 
 
 
 
 
 
 
 
 
Commercial
 
330

 
3,631

 
3,961

 
403,666

 
407,627

Mortgage
 
10,854

 
9,769

 
20,623

 
1,150,331

 
1,170,954

HELOC
 
970

 
1,020

 
1,990

 
211,304

 
213,294

Installment
 
350

 
319

 
669

 
19,272

 
19,941

Consumer
 
12,579

 
2,094

 
14,673

 
1,109,562

 
1,124,235

Leases
 
—

 
—

 
—

 
3,272

 
3,272

Total loans
 
$
26,591

 
$
24,050

 
$
50,641

 
$
5,236,189

 
$
5,286,830


(1) Includes an aggregate of $2.1 million of loans past due 90 days or more and accruing. The remaining are past due, nonaccrual loans.
(2) Includes an aggregate of $65.9 million of nonaccrual loans which are current in regards to contractual principal and interest payments.

 
 
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 (1)
 
Total past due
 
Total current (2)
 
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
Schedule of recorded investment by loan grade
The tables below present the recorded investment by loan grade at December 31, 2016 and December 31, 2015 for all commercial loans:
 
 
 
12/31/2016
(In thousands)
 
5 Rated
 
6 Rated
 
Impaired
 
Pass Rated
 
Recorded Investment
Commercial, financial and agricultural*
 
$
5,826

 
$
—

 
$
20,657

 
$
971,694

 
$
998,177

Commercial real estate*
 
7,548

 
190

 
24,474

 
1,127,652

 
1,159,864

Construction real estate:
 
 
 
 
 
 
 
 
 
 
  SEPH commercial land and development
 
—

 
—

 
—

 
—

 
—

  Remaining commercial
 
287

 
118

 
2,226

 
133,110

 
135,741

Residential real estate:
 
 
 
 
 
 
 
 
 
 
  Commercial
 
1,055

 
124

 
23,102

 
383,346

 
407,627

Leases
 
—

 
—

 
—

 
3,272

 
3,272

Total Commercial Loans
 
$
14,716

 
$
432

 
$
70,459

 
$
2,619,074

 
$
2,704,681


* 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.

 
 
12/31/2015
(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
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, 2016, 2015 and 2014 as well as the recorded investment of these contracts at December 31, 2016, 2015, and 2014. 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, 2016
(In thousands)
 
Number of Contracts
 
Accruing
 
Nonaccrual
 
Recorded Investment
Commercial, financial and agricultural
 
32

 
$
191

 
$
8,450

 
$
8,641

Commercial real estate
 
14

 
3,844

 
2,537

 
6,381

Construction real estate:
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
—

 
—

 
—

Remaining commercial
 
2

 
—

 
1,143

 
1,143

Mortgage
 
—

 
—

 
—

 
—

Installment
 
1

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
 
Commercial
 
11

 
89

 
1,033

 
1,122

Mortgage
 
34

 
114

 
2,292

 
2,406

HELOC
 
13

 
104

 
178

 
282

Installment
 
5

 
102

 
3

 
105

Consumer
 
293

 
184

 
994

 
1,178

Total loans
 
405

 
$
4,628

 
$
16,630

 
$
21,258


 
 
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
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, 2016, December 31, 2015, and December 31, 2014. For this table, 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.
 
 
 
Year ended
December 31, 2016
 
Year ended
December 31, 2015
 
Year ended
December 31, 2014
(In thousands)
 
Number of Contracts
 
Recorded Investment
 
Number of Contracts
 
Recorded Investment
 
Number of Contracts
 
Recorded Investment
Commercial, financial and agricultural
 
7

 
$
419

 
1

 
$
1

 
4

 
$
206

Commercial real estate
 
5

 
843

 
1

 
626

 
1

 
302

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
SEPH commercial land and development
 
—

 
—

 
—

 
—

 
—

 
—

Remaining commercial
 
—

 
—

 
—

 
—

 
—

 
—

Mortgage
 
—

 
—

 
—

 
—

 
—

 
—

Installment
 
—

 
—

 
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
7

 
848

 
3

 
1,005

 
1

 
3

Mortgage
 
15

 
1,201

 
12

 
682

 
14

 
810

HELOC
 
—

 
—

 
1

 
5

 
2

 
160

Installment
 
1

 
3

 
2

 
101

 
2

 
12

Consumer
 
62

 
484

 
47

 
434

 
62

 
516

Leases
 
—

 
—

 
—

 
—

 
—

 
—

Total loans
 
97

 
$
3,798

 
$
67

 
$
2,854

 
86

 
$
2,009