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Loans (Tables)
 9 Months Ended
Sep. 30, 2017
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 September 30, 2017 and December 31, 2016 was as follows:
 
 
September 30, 2017
 
 
December 31, 2016
(In thousands)
Loan
Balance
 
Accrued
Interest
Receivable
 
Recorded
Investment
 
 
Loan
Balance
 
Accrued
Interest
Receivable
 
Recorded
Investment
Commercial, financial and agricultural *
$
1,025,057

 
$
4,581

 
$
1,029,638

 
 
$
994,619

 
$
3,558

 
$
998,177

Commercial real estate *
1,155,662

 
4,464

 
1,160,126

 
 
1,155,703

 
4,161

 
1,159,864

Construction real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
139,210

 
462

 
139,672

 
 
135,343

 
398

 
135,741

Mortgage
47,629

 
109

 
47,738

 
 
48,699

 
106

 
48,805

Installment
4,209

 
11

 
4,220

 
 
4,903

 
17

 
4,920

Residential real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
391,502

 
959

 
392,461

 
 
406,687

 
940

 
407,627

Mortgage
1,135,289

 
1,469

 
1,136,758

 
 
1,169,495

 
1,459

 
1,170,954

HELOC
206,665

 
896

 
207,561

 
 
212,441

 
853

 
213,294

Installment
19,131

 
54

 
19,185

 
 
19,874

 
67

 
19,941

Consumer
1,238,191

 
3,409

 
1,241,600

 
 
1,120,850

 
3,385

 
1,124,235

Leases
3,332

 
52

 
3,384

 
 
3,243

 
29

 
3,272

Total loans
$
5,365,877

 
$
16,466

 
$
5,382,343

 
 
$
5,271,857

 
$
14,973

 
$
5,286,830

* Included within each of 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 September 30, 2017 and December 31, 2016:
 
 
 
September 30, 2017
(In thousands)
 
Nonaccrual
Loans
 
Accruing Troubled Debt Restructurings
 
Loans Past Due
90 Days or More
and Accruing
 
Total
Nonperforming
Loans
Commercial, financial and agricultural
 
$
29,141

 
$
737

 
$
—

 
$
29,878

Commercial real estate
 
17,889

 
5,106

 
—

 
22,995

Construction real estate:
 
 

 
 

 
 

 
 

Commercial
 
1,096

 
364

 
—

 
1,460

Mortgage
 
8

 
84

 
—

 
92

Installment
 
57

 
—

 
—

 
57

Residential real estate:
 
 

 
 

 
 

 
 

Commercial
 
19,071

 
227

 
—

 
19,298

Mortgage
 
17,860

 
10,599

 
882

 
29,341

HELOC
 
1,514

 
1,094

 
—

 
2,608

Installment
 
778

 
556

 
—

 
1,334

Consumer
 
3,154

 
736

 
1,155

 
5,045

Total loans
 
$
90,568

 
$
19,503

 
$
2,037

 
$
112,108

 
 
 
December 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:
 
 

 
 

 
 

 
 
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
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 September 30, 2017 and December 31, 2016.

 
 
September 30, 2017
 
 
December 31, 2016
(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
 
$
29,878

 
$
29,848

 
$
30

 
 
$
20,657

 
$
20,624

 
$
33

Commercial real estate
 
22,995

 
22,995

 
—

 
 
24,474

 
24,474

 
—

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
1,460

 
1,460

 
—

 
 
2,226

 
2,226

 
—

Mortgage
 
92

 
—

 
92

 
 
104

 
—

 
104

Installment
 
57

 
—

 
57

 
 
156

 
—

 
156

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
19,298

 
19,298

 
—

 
 
23,102

 
23,102

 
—

Mortgage
 
28,459

 
—

 
28,459

 
 
27,925

 
—

 
27,925

HELOC
 
2,608

 
—

 
2,608

 
 
2,456

 
—

 
2,456

Installment
 
1,334

 
—

 
1,334

 
 
1,253

 
—

 
1,253

Consumer
 
3,890

 
8

 
3,882

 
 
3,697

 
—

 
3,697

Total loans
 
$
110,071

 
$
73,609

 
$
36,462

 
 
$
106,050

 
$
70,426

 
$
35,624
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 September 30, 2017 and December 31, 2016.
 
 
 
September 30, 2017
 
 
December 31, 2016
(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
 
$
22,233

 
$
16,980

 
$
—

 
 
$
41,075

 
$
19,965

 
$
—

Commercial real estate
 
18,558

 
18,158

 
—

 
 
23,961

 
23,474

 
—

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
2,923

 
1,460

 
—

 
 
3,662

 
2,226

 
—

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
19,393

 
19,009

 
—

 
 
24,409

 
22,687

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
With an allowance recorded:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial, financial and agricultural
 
14,735

 
12,868

 
4,761

 
 
810

 
659

 
152

Commercial real estate
 
5,357

 
4,837

 
320

 
 
1,014

 
1,000

 
309

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
—

 
—

 
—

 
 
—

 
—

 
—

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
289

 
289

 
13

 
 
427

 
415

 
87

Consumer
 
8

 
8

 
8

 
 
—

 
—

 
—

Total
 
$
83,496

 
$
73,609

 
$
5,102

 
 
$
95,358

 
$
70,426

 
$
548
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 and nine months ended September 30, 2017 and September 30, 2016:

 
Three Months Ended
September 30, 2017
 
 
Three Months Ended
September 30, 2016
(In thousands)
Recorded Investment as of September 30, 2017
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
 
Recorded Investment as of September 30, 2016
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial and agricultural
$
29,848

 
$
28,412

 
$
398

 
 
$
23,856

 
$
26,679

 
$
194

Commercial real estate
22,995

 
22,241

 
192

 
 
26,065

 
27,982

 
243

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
1,460

 
1,554

 
18

 
 
4,377

 
5,643

 
16

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
19,298

 
20,365

 
46

 
 
23,700

 
24,422

 
314

Consumer
8

 
8

 
—

 
 
—

 
10

 
—

Total
$
73,609

 
$
72,580

 
$
654

 
 
$
77,998

 
$
84,736

 
$
767



 
Nine Months Ended
September 30, 2017
 
 
Nine Months Ended
September 30, 2016
(In thousands)
Recorded Investment as of September 30, 2017
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
 
Recorded Investment as of September 30, 2016
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial and agricultural
$
29,848

 
$
23,770

 
$
738

 
 
$
23,856

 
$
28,217

 
$
740

Commercial real estate
22,995

 
22,470

 
663

 
 
26,065

 
22,108

 
608

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
1,460

 
1,830

 
49

 
 
4,377

 
6,244

 
44

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
19,298

 
20,876

 
452

 
 
23,700

 
24,618

 
2,619

Consumer
8

 
7

 
—

 
 
—

 
4

 
—

Total
$
73,609

 
$
68,953

 
$
1,902

 
 
$
77,998

 
$
81,191

 
$
4,011
Aging Of Recorded Investment In Past Due Loans
The following tables present the aging of the recorded investment in past due loans as of September 30, 2017 and December 31, 2016 by class of loan. 

 
September 30, 2017
(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
$
70

 
$
10,527

 
$
10,597

 
$
1,019,041

 
$
1,029,638

Commercial real estate
82

 
3,455

 
3,537

 
1,156,589

 
1,160,126

Construction real estate:
 

 
 

 
 

 
 

 
 

Commercial
—

 
—

 
—

 
139,672

 
139,672

Mortgage
213

 
—

 
213

 
47,525

 
47,738

Installment
11

 
48

 
59

 
4,161

 
4,220

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
—

 
1,345

 
1,345

 
391,116

 
392,461

Mortgage
11,305

 
9,354

 
20,659

 
1,116,099

 
1,136,758

HELOC
400

 
917

 
1,317

 
206,244

 
207,561

Installment
349

 
261

 
610

 
18,575

 
19,185

Consumer
10,426

 
2,333

 
12,759

 
1,228,841

 
1,241,600

Leases
—

 
—

 
—

 
3,384

 
3,384

Total loans
$
22,856

 
$
28,240

 
$
51,096

 
$
5,331,247

 
$
5,382,343


(1) Includes $2.0 million of loans past due 90 days or more and accruing. The remaining are past due nonaccrual loans.
(2) Includes $64.4 million of nonaccrual loans which are current in regards to contractual principal and interest payments.

 
December 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:
 

 
 

 
 
 
 

 
 

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 $2.1 million of loans past due 90 days or more and accruing. The remaining are past due nonaccrual loans.
(2) Includes $65.9 million of nonaccrual loans which are current in regards to contractual principal and interest payments.
Recorded Investment By Loan Grade
The tables below present the recorded investment by loan grade at September 30, 2017 and December 31, 2016 for all commercial loans:
 
 
September 30, 2017
(In thousands)
5 Rated
 
6 Rated
 
Nonaccrual and Accruing Troubled Debt Restructurings
 
Pass-Rated
 
Recorded
Investment
Commercial, financial and agricultural *
$
2,981

 
$
395

 
$
29,878

 
$
996,384

 
$
1,029,638

Commercial real estate *
8,364

 
—

 
22,995

 
1,128,767

 
1,160,126

Construction real estate:
 

 
 

 
 

 
 

 
 

Commercial
—

 
114

 
1,460

 
138,098

 
139,672

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
395

 
5

 
19,298

 
372,763

 
392,461

Leases
—

 
—

 
—

 
3,384

 
3,384

Total commercial loans
$
11,740

 
$
514

 
$
73,631

 
$
2,639,396

 
$
2,725,281

 * Included within each of 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, 2016
(In thousands)
5 Rated
 
6 Rated
 
Nonaccrual and Accruing Troubled Debt Restructurings
 
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:
 

 
 

 
 

 
 

 
 

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
TDR Number Of Contracts Modified And Recorded Investment
The following tables detail the number of contracts modified as TDRs during the three-month and nine-month periods ended September 30, 2017 and September 30, 2016, as well as the recorded investment of these contracts at September 30, 2017 and September 30, 2016. 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
September 30, 2017
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
14

 
$
400

 
$
1,015

 
$
1,415

Commercial real estate
3

 
974

 
481

 
1,455

Construction real estate:
 
 
 
 
 
 
 
  Commercial
—

 
—

 
—

 
—

  Mortgage
—

 
—

 
—

 
—

  Installment
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
  Commercial
10

 
144

 
354

 
498

  Mortgage
5

 
211

 
206

 
417

  HELOC
4

 
123

 
45

 
168

  Installment
4

 
110

 
41

 
151

Consumer
99

 
99

 
735

 
834

Total loans
139

 
$
2,061

 
$
2,877

 
$
4,938

 
Three Months Ended
September 30, 2016
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
12

 
$
152

 
$
6,451

 
$
6,603

Commercial real estate
6

 
—

 
1,777

 
1,777

Construction real estate:
 
 
 
 
 
 
 
  Commercial
1

 
—

 
947

 
947

  Mortgage
—

 
—

 
—

 
—

  Installment
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
  Commercial
4

 
—

 
225

 
225

  Mortgage
14

 
—

 
1,173

 
1,173

  HELOC
2

 
—

 
91

 
91

  Installment
2

 
33

 
4

 
37

Consumer
74

 
61

 
1,508

 
1,569

Total loans
115

 
$
246

 
$
12,176

 
$
12,422


Of those loans which were modified and determined to be a TDR during the three-month period ended September 30, 2017, $0.5 million were on nonaccrual status as of December 31, 2016. Of those loans which were modified and determined to be a TDR during the three-month period ended September 30, 2016, $7.6 million were on nonaccrual status as of December 31, 2015.

 
Nine Months Ended
September 30, 2017
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
25

 
$
400

 
$
3,769

 
$
4,169

Commercial real estate
9

 
1,525

 
795

 
2,320

Construction real estate:
 
 
 
 
 
 
 
  Commercial
—

 
—

 
—

 
—

  Mortgage
1

 
—

 
8

 
8

  Installment
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
  Commercial
15

 
144

 
558

 
702

  Mortgage
24

 
746

 
923

 
1,669

  HELOC
16

 
478

 
51

 
529

  Installment
7

 
175

 
41

 
216

Consumer
228

 
140

 
1,012

 
1,152

Total loans
325

 
$
3,608

 
$
7,157

 
$
10,765


 
Nine Months Ended
September 30, 2016
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
29

 
$
102

 
$
7,242

 
$
7,344

Commercial real estate
10

 
2,812

 
2,306

 
5,118

Construction real estate:
 
 
 
 
 
 
 
  Commercial
2

 
—

 
1,144

 
1,144

  Mortgage
—

 
—

 
—

 
—

  Installment
1

 
—

 
9

 
9

Residential real estate:
 
 
 
 
 
 
 
  Commercial
7

 
—

 
918

 
918

  Mortgage
23

 
96

 
1,713

 
1,809

  HELOC
10

 
17

 
184

 
201

  Installment
4

 
72

 
7

 
79

Consumer
223

 
115

 
2,042

 
2,157

Total loans
309

 
$
3,214

 
$
15,565

 
$
18,779


Of those loans which were modified and determined to be a TDR during the nine-month period ended September 30, 2017, $3.0 million were on nonaccrual status as of December 31, 2016. Of those loans which were modified and determined to be a TDR during the nine-month period ended September 30, 2016, $8.5 million were on nonaccrual status as of December 31, 2015.
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 and nine-month periods ended September 30, 2017 and September 30, 2016, 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
September 30, 2017
 
 
Three Months Ended
September 30, 2016
 
(In thousands)
Number of
Contracts
 
Recorded
Investment
 
 
Number of
Contracts
 
Recorded
Investment
 
Commercial, financial and agricultural
1

 
$
20

 
 
5

 
$
129

 
Commercial real estate
1

 
72

 
 
4

 
808

 
Construction real estate:
 

 
 

 
 
 
 
 
 
Commercial
—

 
—

 
 
—

 
—

 
Mortgage
—

 
—

 
 
—

 
—

 
Installment
—

 
—

 
 
—

 
—

 
Residential real estate:
 

 
 

 
 
 
 
 
 
Commercial
1

 
17

 
 
3

 
679

 
Mortgage
6

 
427

 
 
13

 
1,687

 
HELOC
2

 
27

 
 
—

 
—

 
Installment
—

 
—

 
 
2

 
7

 
Consumer
33

 
262

 
 
53

 
559

 
Leases
—

 
—

 
 
—

 
—

 
Total loans
44

 
$
825

 
 
80

 
$
3,869

 


Of the $0.8 million in modified TDRs which defaulted during the three months ended September 30, 2017, there were no accruing loans. Of the $3.9 million in modified TDRs which defaulted during the three months ended September 30, 2016, $14,000 were accruing loans and $3.9 million were nonaccrual loans.

 
Nine Months Ended
September 30, 2017
 
 
Nine Months Ended
September 30, 2016
 
(In thousands)
Number of
Contracts
 
Recorded
Investment
 
 
Number of
Contracts
 
Recorded
Investment
 
Commercial, financial and agricultural
1

 
$
20

 
 
5

 
$
129

 
Commercial real estate
2

 
248

 
 
4

 
808

 
Construction real estate:
 
 
 
 
 
 
 
 
 
Commercial
—

 
—

 
 
—

 
—

 
Mortgage
—

 
—

 
 
—

 
—

 
Installment
—

 
—

 
 
—

 
—

 
Residential real estate:
 
 
 
 
 
 
 
 
 
Commercial
1

 
17

 
 
4

 
709

 
Mortgage
6

 
426

 
 
13

 
1,687

 
HELOC
3

 
32

 
 
—

 
—

 
Installment
—

 
—

 
 
2

 
7

 
Consumer
45

 
345

 
 
60

 
611

 
Leases
—

 
—

 
 
—

 
—

 
Total loans
58

 
$
1,088

 
 
88

 
$
3,951

 

Of the $1.1 million in modified TDRs which defaulted during the nine months ended September 30, 2017, $2,000 were accruing loans and $1.1 million were nonaccrual loans. Of the $4.0 million in modified TDRs which defaulted during the nine months ended September 30, 2016, $14,000 were accruing loans and $3.9 million were nonaccrual loans.