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Loans (Tables)
 3 Months Ended
Mar. 31, 2018
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, 2018 and December 31, 2017 was as follows:
 
 
March 31, 2018
 
 
December 31, 2017
(In thousands)
Loan
Balance
 
Accrued
Interest
Receivable
 
Recorded
Investment
 
 
Loan
Balance
 
Accrued
Interest
Receivable
 
Recorded
Investment
Commercial, financial and agricultural *
$
1,000,786

 
$
4,243

 
$
1,005,029

 
 
$
1,053,453

 
$
4,413

 
$
1,057,866

Commercial real estate *
1,156,563

 
4,047

 
1,160,610

 
 
1,167,607

 
4,283

 
1,171,890

Construction real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
126,561

 
375

 
126,936

 
 
125,389

 
401

 
125,790

Mortgage
51,379

 
119

 
51,498

 
 
52,203

 
133

 
52,336

Installment
3,244

 
11

 
3,255

 
 
3,878

 
13

 
3,891

Residential real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
389,766

 
1,043

 
390,809

 
 
393,094

 
1,029

 
394,123

Mortgage
1,097,166

 
1,327

 
1,098,493

 
 
1,110,426

 
1,516

 
1,111,942

HELOC
194,158

 
904

 
195,062

 
 
203,178

 
974

 
204,152

Installment
17,570

 
49

 
17,619

 
 
18,526

 
53

 
18,579

Consumer
1,252,251

 
3,462

 
1,255,713

 
 
1,241,736

 
3,808

 
1,245,544

Leases
2,905

 
46

 
2,951

 
 
2,993

 
36

 
3,029

Total loans
$
5,292,349

 
$
15,626

 
$
5,307,975

 
 
$
5,372,483

 
$
16,659

 
$
5,389,142

* 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 March 31, 2018 and December 31, 2017:
 
 
 
March 31, 2018
(In thousands)
 
Nonaccrual
Loans
 
Accruing
TDRs
 
Loans Past Due
90 Days or More
and Accruing
 
Total
Nonperforming
Loans
Commercial, financial and agricultural
 
$
25,985

 
$
1,088

 
$
—

 
$
27,073

Commercial real estate
 
14,213

 
4,770

 
—

 
18,983

Construction real estate:
 
 

 
 

 
 

 
 

Commercial
 
960

 
433

 
—

 
1,393

Mortgage
 
—

 
16

 
—

 
16

Installment
 
43

 
6

 
—

 
49

Residential real estate:
 
 

 
 

 
 

 
 

Commercial
 
2,674

 
222

 
—

 
2,896

Mortgage
 
16,856

 
10,022

 
669

 
27,547

HELOC
 
1,482

 
882

 
47

 
2,411

Installment
 
527

 
695

 
—

 
1,222

Consumer
 
3,411

 
623

 
690

 
4,724

Total loans
 
$
66,151

 
$
18,757

 
$
1,406

 
$
86,314

 
 
 
December 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
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, 2018 and December 31, 2017.

 
 
March 31, 2018
 
 
December 31, 2017
(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
 
$
27,073

 
$
27,050

 
$
23

 
 
$
18,064

 
$
18,039

 
$
25

Commercial real estate
 
18,983

 
18,983

 
—

 
 
18,142

 
18,142

 
—

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
1,393

 
1,393

 
—

 
 
1,324

 
1,324

 
—

Mortgage
 
16

 
—

 
16

 
 
100

 
—

 
100

Installment
 
49

 
—

 
49

 
 
52

 
—

 
52

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
2,896

 
2,896

 
—

 
 
19,059

 
19,059

 
—

Mortgage
 
26,878

 
—

 
26,878

 
 
27,607

 
—

 
27,607

HELOC
 
2,364

 
—

 
2,364

 
 
2,618

 
—

 
2,618

Installment
 
1,222

 
—

 
1,222

 
 
1,202

 
—

 
1,202

Consumer
 
4,034

 
—

 
4,034

 
 
4,065

 
—

 
4,065

Total loans
 
$
84,908

 
$
50,322

 
$
34,586

 
 
$
92,233

 
$
56,564

 
$
35,669
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, 2018 and December 31, 2017.
 
 
 
March 31, 2018
 
 
December 31, 2017
(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
 
$
27,201

 
$
22,255

 
$
—

 
 
$
19,899

 
$
14,704

 
$
—

Commercial real estate
 
18,370

 
17,901

 
—

 
 
18,974

 
18,060

 
—

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
1,264

 
1,265

 
—

 
 
2,788

 
1,324

 
—

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
3,107

 
2,786

 
—

 
 
19,346

 
19,012

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
With an allowance recorded:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial, financial and agricultural
 
7,082

 
4,795

 
1,165

 
 
5,394

 
3,335

 
681

Commercial real estate
 
1,524

 
1,082

 
29

 
 
137

 
82

 
2

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
1,592

 
128

 
8

 
 
—

 
—

 
—

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
123

 
110

 
5

 
 
47

 
47

 
1

Consumer
 
—

 
—

 
—

 
 
—

 
—

 
—

Total
 
$
60,263

 
$
50,322

 
$
1,207

 
 
$
66,585

 
$
56,564

 
$
684
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, 2018 and March 31, 2017:

 
Three Months Ended
March 31, 2018
 
 
Three Months Ended
March 31, 2017
(In thousands)
Recorded Investment as of March 31, 2018
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
 
Recorded Investment as of March 31, 2017
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial and agricultural
$
27,050

 
$
20,078

 
$
174

 
 
$
22,542

 
$
19,471

 
$
220

Commercial real estate
18,983

 
18,193

 
202

 
 
22,732

 
23,297

 
231

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
1,393

 
1,377

 
14

 
 
2,041

 
2,096

 
15

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
2,896

 
11,215

 
31

 
 
22,803

 
23,081

 
345

Consumer
—

 
—

 
—

 
 
9

 
5

 
—

Total
$
50,322

 
$
50,863

 
$
421

 
 
$
70,127

 
$
67,950

 
$
811
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, 2018 and December 31, 2017 by class of loan. 

 
March 31, 2018
(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
$
1,483

 
$
13,100

 
$
14,583

 
$
990,446

 
$
1,005,029

Commercial real estate
210

 
2,748

 
2,958

 
1,157,652

 
1,160,610

Construction real estate:
 

 
 

 
 

 
 

 
 

Commercial
—

 
—

 
—

 
126,936

 
126,936

Mortgage
84

 
—

 
84

 
51,414

 
51,498

Installment
49

 
3

 
52

 
3,203

 
3,255

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
413

 
1,023

 
1,436

 
389,373

 
390,809

Mortgage
9,465

 
8,010

 
17,475

 
1,081,018

 
1,098,493

HELOC
570

 
729

 
1,299

 
193,763

 
195,062

Installment
268

 
215

 
483

 
17,136

 
17,619

Consumer
7,567

 
1,798

 
9,365

 
1,246,348

 
1,255,713

Leases
—

 
—

 
—

 
2,951

 
2,951

Total loans
$
20,109

 
$
27,626

 
$
47,735

 
$
5,260,240

 
$
5,307,975


(1) Includes $1.4 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans.
(2) Includes $39.9 million of nonaccrual loans which were current in regards to contractual principal and interest payments.

 
December 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 $1.8 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans.
(2) Includes $56.1 million of nonaccrual loans which were 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 March 31, 2018 and December 31, 2017 for all commercial loans:
 
 
March 31, 2018
(In thousands)
5 Rated
 
6 Rated
 
Nonaccrual and Accruing TDRs
 
Pass-Rated
 
Recorded
Investment
Commercial, financial and agricultural *
$
475

 
$
130

 
$
27,073

 
$
977,351

 
$
1,005,029

Commercial real estate *
2,176

 
—

 
18,983

 
1,139,451

 
1,160,610

Construction real estate:
 

 
 

 
 

 
 

 
 

Commercial
—

 
344

 
1,393

 
125,199

 
126,936

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
412

 
—

 
2,896

 
387,501

 
390,809

Leases
—

 
—

 
—

 
2,951

 
2,951

Total commercial loans
$
3,063

 
$
474

 
$
50,345

 
$
2,632,453

 
$
2,686,335

 * 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, 2017
(In thousands)
5 Rated
 
6 Rated
 
Nonaccrual and Accruing TDRs
 
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
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, 2018 and March 31, 2017, as well as the recorded investment of these contracts at March 31, 2018 and March 31, 2017. The recorded investment pre- and post-modification is generally the same due to the fact that Park does not typically forgive principal.

 
Three Months Ended
March 31, 2018
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
4

 
$
—

 
$
55

 
$
55

Commercial real estate
3

 
—

 
249

 
249

Construction real estate:
 
 
 
 
 
 
 
  Commercial
1

 
63

 
—

 
63

  Mortgage
—

 
—

 
—

 
—

  Installment
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
  Commercial
—

 
—

 
—

 
—

  Mortgage
9

 
—

 
650

 
650

  HELOC
2

 
251

 
88

 
339

  Installment
5

 
102

 
13

 
115

Consumer
50

 
13

 
351

 
364

Total loans
74

 
$
429

 
$
1,406

 
$
1,835


 
Three Months Ended
March 31, 2017
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
6

 
$
3,079

 
$
1,019

 
$
4,098

Commercial real estate
4

 
—

 
379

 
379

Construction real estate:
 
 
 
 
 
 
 
  Commercial
—

 
—

 
—

 
—

  Mortgage
—

 
—

 
—

 
—

  Installment
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
  Commercial
3

 
—

 
2,140

 
2,140

  Mortgage
9

 
—

 
608

 
608

  HELOC
3

 
200

 
6

 
206

  Installment
1

 
34

 
—

 
34

Consumer
57

 
272

 
348

 
620

Total loans
83

 
$
3,585

 
$
4,500

 
$
8,085


Of those loans which were modified and determined to be a TDR during the three-month period ended March 31, 2018, $0.5 million were on nonaccrual status as of December 31, 2017. Of those loans which were modified and determined to be a TDR during the three-month period ended March 31, 2017, $2.6 million were on nonaccrual status as of December 31, 2016.
Recorded Investment In Financing Receivable Modified As TDR Within 12 Months
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 three-month periods ended March 31, 2018 and March 31, 2017, respectively. 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.
 
 
Three Months Ended
March 31, 2018
 
 
Three Months Ended
March 31, 2017
 
(In thousands)
Number of
Contracts
 
Recorded
Investment
 
 
Number of
Contracts
 
Recorded
Investment
 
Commercial, financial and agricultural
3

 
$
207

 
 
6

 
$
198

 
Commercial real estate
1

 
114

 
 
5

 
838

 
Construction real estate:
 

 
 

 
 
 
 
 
 
Commercial
—

 
—

 
 
—

 
—

 
Mortgage
—

 
—

 
 
—

 
—

 
Installment
—

 
—

 
 
—

 
—

 
Residential real estate:
 

 
 

 
 
 
 
 
 
Commercial
1

 
17

 
 
3

 
49

 
Mortgage
7

 
536

 
 
8

 
631

 
HELOC
3

 
174

 
 
—

 
—

 
Installment
—

 
—

 
 
1

 
3

 
Consumer
41

 
329

 
 
29

 
268

 
Leases
—

 
—

 
 
—

 
—

 
Total loans
56

 
$
1,377

 
 
52

 
$
1,987

 


Of the $1.4 million in modified TDRs which defaulted during the three-month period ended March 31, 2018, $72,000 were accruing loans and $1.3 million were nonaccrual loans. Of the $2.0 million in modified TDRs which defaulted during the three-month period ended March 31, 2017, $60,000 were accruing loans and $1.9 million were nonaccrual loans.