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Loans (Tables)
 12 Months Ended
Dec. 31, 2017
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, 2017 and December 31, 2016 was as follows:

 
 
12/31/2017
 
 
12/31/2016
(In thousands)
 
Loan Balance
 
Accrued Interest Receivable
 
Recorded Investment
 
 
Loan Balance
 
Accrued Interest Receivable
 
Recorded Investment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural *
 
$
1,053,453

 
$
4,413

 
$
1,057,866

 
 
$
994,619

 
$
3,558

 
$
998,177

Commercial real estate *
 
1,167,607

 
4,283

 
1,171,890

 
 
1,155,703

 
4,161

 
1,159,864

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
125,389

 
401

 
125,790

 
 
135,343

 
398

 
135,741

Mortgage
 
52,203

 
133

 
52,336

 
 
48,699

 
106

 
48,805

Installment
 
3,878

 
13

 
3,891

 
 
4,903

 
17

 
4,920

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
393,094

 
1,029

 
394,123

 
 
406,687

 
940

 
407,627

Mortgage
 
1,110,426

 
1,516

 
1,111,942

 
 
1,169,495

 
1,459

 
1,170,954

HELOC
 
203,178

 
974

 
204,152

 
 
212,441

 
853

 
213,294

Installment
 
18,526

 
53

 
18,579

 
 
19,874

 
67

 
19,941

Consumer
 
1,241,736

 
3,808

 
1,245,544

 
 
1,120,850

 
3,385

 
1,124,235

Leases
 
2,993

 
36

 
3,029

 
 
3,243

 
29

 
3,272

Total loans
 
$
5,372,483

 
$
16,659

 
$
5,389,142

 
 
$
5,271,857

 
$
14,973

 
$
5,286,830

* 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, 2017 and December 31, 2016:
 


12/31/2017
(In thousands)

Nonaccrual Loans

Accruing TDRs

Loans Past Due 90 Days or More and Accruing

Total Nonperforming Loans
Commercial, financial and agricultural

$
16,773


$
1,291


$
—


$
18,064

Commercial real estate

12,979


5,163


—


18,142

Construction real estate:












Commercial

986


338


—


1,324

Mortgage

8


92


—


100

Installment

52


—


—


52

Residential real estate:












Commercial

18,835


224


—


19,059

Mortgage

16,841


10,766


568


28,175

HELOC

1,593


1,025


14


2,632

Installment

586


616


7


1,209

Consumer

3,403


662


1,256


5,321

Total loans

$
72,056


$
20,177


$
1,845


$
94,078


 
 
12/31/2016
(In thousands)
 
Nonaccrual Loans
 
Accruing TDRs
 
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
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, 2017 and December 31, 2016.
 
 
 
12/31/2017
 
 
12/31/2016
 
(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
 
$
18,064

 
$
18,039

 
$
25

 
 
$
20,657

 
$
20,624

 
$
33

Commercial real estate
 
18,142

 
18,142

 
—

 
 
24,474

 
24,474

 
—

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
1,324

 
1,324

 
—

 
 
2,226

 
2,226

 
—

Mortgage
 
100

 
—

 
100

 
 
104

 
—

 
104

Installment
 
52

 
—

 
52

 
 
156

 
—

 
156

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
19,059

 
19,059

 
—

 
 
23,102

 
23,102

 
—

Mortgage
 
27,607

 
—

 
27,607

 
 
27,925

 
—

 
27,925

HELOC
 
2,618

 
—

 
2,618

 
 
2,456

 
—

 
2,456

Installment
 
1,202

 
—

 
1,202

 
 
1,253

 
—

 
1,253

Consumer
 
4,065

 
—

 
4,065

 
 
3,697

 
—

 
3,697

Total loans
 
$
92,233

 
$
56,564

 
$
35,669

 
 
$
106,050

 
$
70,426

 
$
35,624
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, 2017 and December 31, 2016.
 


12/31/2017
 

12/31/2016
(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

$
19,899


$
14,704


$
—

 

$
41,075


$
19,965


$
—

Commercial real estate

18,974


18,060


—

 

23,961


23,474


—

Construction real estate:









 

 
 
 
 
 
Commercial

2,788

 
1,324

 
—

 

3,662


2,226


—

Residential real estate:



 


 


 

 
 
 
 
 
Commercial

19,346

 
19,012

 
—

 

24,409


22,687


—

With an allowance recorded

 
 
 
 
 
 

 
 
 
 
 
Commercial, financial and agricultural

5,394

 
3,335

 
681

 

810


659


152

Commercial real estate

137

 
82

 
2

 

1,014


1,000


309

Construction real estate:

 
 
 
 
 
 

 
 
 
 
 
Commercial

—

 
—

 
—

 

—


—


—

Residential real estate:

 
 
 
 
 
 

 
 
 
 
 
Commercial

47

 
47

 
1

 

427


415


87

Total

$
66,585


$
56,564


$
684

 

$
95,358


$
70,426


$
548
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, 2017, 2016, and 2015:
  
 
 
 
 
Year ended December 31, 2017
(In thousands)
 
Recorded Investment as of December 31, 2017
 
Average recorded investment
 
Interest income recognized
Commercial, financial and agricultural
 
$
18,039

 
$
23,154

 
$
963

Commercial real estate
 
18,142

 
21,692

 
903

Construction real estate:
 
 
 
 
 
 
   Commercial
 
1,324

 
1,729

 
64

Residential real estate:
 
 
 
 
 
 
   Commercial
 
19,059

 
20,490

 
778

Consumer
 
—

 
5

 
—

Total
 
$
56,564

 
$
67,070

 
$
2,708



 
 
 
 
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:
 
 
 
 
 
 
     Commercial
 
2,226

 
5,503

 
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:
 
 
 
 
 
 
     Commercial
 
6,720

 
7,732

 
47

 Residential real estate:
 
 
 
 
 
 
     Commercial
 
25,324

 
24,968

 
1,026

 Consumer
 
—

 
—

 
—

Total
 
$
80,664

 
$
70,762

 
$
1,963
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, 2017 and December 31, 2016 by class of loan.

 
 
12/31/2017
(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
 
$
145

 
$
1,043

 
$
1,188

 
$
1,056,678

 
$
1,057,866

Commercial real estate
 
856

 
2,360

 
3,216

 
1,168,674

 
1,171,890

Construction real estate:
 
 
 
 
 
 
 
 
 
 
Commercial
 
29

 
—

 
29

 
125,761

 
125,790

Mortgage
 
256

 
—

 
256

 
52,080

 
52,336

Installment
 
54

 
19

 
73

 
3,818

 
3,891

Residential real estate:
 
 
 
 
 
 
 
 
 
 
Commercial
 
16

 
1,586

 
1,602

 
392,521

 
394,123

Mortgage
 
11,515

 
9,232

 
20,747

 
1,091,195

 
1,111,942

HELOC
 
616

 
876

 
1,492

 
202,660

 
204,152

Installment
 
239

 
253

 
492

 
18,087

 
18,579

Consumer
 
11,515

 
2,407

 
13,922

 
1,231,622

 
1,245,544

Leases
 
—

 
—

 
—

 
3,029

 
3,029

Total loans
 
$
25,241

 
$
17,776

 
$
43,017

 
$
5,346,125

 
$
5,389,142


(1) Includes an aggregate of $1.8 million of loans past due 90 days or more and accruing. The remaining are past due, nonaccrual loans.
(2) Includes an aggregate of $56.1 million of nonaccrual loans which are current in regards to contractual principal and interest payments.

 
 
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:
 
 
 
 
 
 
 
 
 
 
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
Schedule of recorded investment by loan grade
The tables below present the recorded investment by loan grade at December 31, 2017 and December 31, 2016 for all commercial loans:
 
 
 
12/31/2017
(In thousands)
 
5 Rated
 
6 Rated
 
Nonaccrual and Accruing Troubled Debt Restructurings
 
Pass Rated
 
Recorded Investment
Commercial, financial and agricultural*
 
$
17,272

 
$
153

 
$
18,064

 
$
1,022,377

 
$
1,057,866

Commercial real estate*
 
5,322

 
457

 
18,142

 
1,147,969

 
1,171,890

Construction real estate:
 
 
 
 
 
 
 
 
 
 
  Commercial
 
278

 
—

 
1,324

 
124,188

 
125,790

Residential real estate:
 
 
 
 
 
 
 
 
 
 
  Commercial
 
216

 
1

 
19,059

 
374,847

 
394,123

Leases
 
—

 
—

 
—

 
3,029

 
3,029

Total Commercial Loans
 
$
23,088

 
$
611

 
$
56,589

 
$
2,672,410

 
$
2,752,698


* 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.

 
 
12/31/2016
(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
Schedule of troubled debt restructurings on financing receivables
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, 2017, December 31, 2016, and December 31, 2015. 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, 2017
 
Year ended
December 31, 2016
 
Year ended
December 31, 2015
(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

Commercial real estate
 
2

 
82

 
5

 
843

 
1

 
626

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
—

 
—

 
—

 
—

 
—

 
—

Mortgage
 
—

 
—

 
—

 
—

 
—

 
—

Installment
 
—

 
—

 
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
2

 
117

 
7

 
848

 
3

 
1,005

Mortgage
 
6

 
467

 
15

 
1,201

 
12

 
682

HELOC
 
4

 
194

 
—

 
—

 
1

 
5

Installment
 
—

 
—

 
1

 
3

 
2

 
101

Consumer
 
50

 
375

 
62

 
484

 
47

 
434

Leases
 
—

 
—

 
—

 
—

 
—

 
—

Total loans
 
64

 
$
1,235

 
$
97

 
$
3,798

 
67

 
$
2,854

The following tables detail the number of contracts modified as TDRs during the years ended December 31, 2017, 2016 and 2015 as well as the recorded investment of these contracts at December 31, 2017, 2016, and 2015. 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, 2017
(In thousands)
 
Number of Contracts
 
Accruing
 
Nonaccrual
 
Recorded Investment
Commercial, financial and agricultural
 
29

 
$
945

 
$
2,770

 
$
3,715

Commercial real estate
 
9

 
1,050

 
313

 
1,363

Construction real estate:
 
 
 
 
 
 
 
 
Commercial
 
—

 
—

 
—

 
—

Mortgage
 
1

 
—

 
8

 
8

Installment
 
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
 
Commercial
 
15

 
144

 
486

 
630

Mortgage
 
33

 
888

 
1,359

 
2,247

HELOC
 
19

 
474

 
102

 
576

Installment
 
11

 
251

 
43

 
294

Consumer
 
309

 
171

 
1,121

 
1,292

Total loans
 
426

 
$
3,923

 
$
6,202

 
$
10,125


 
 
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:
 
 
 
 
 
 
 
 
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:
 
 
 
 
 
 
 
 
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