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Loans (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2018 and December 31, 2017 was as follows:
 
 
June 30, 2018
 
 
December 31, 2017
(In thousands)
Loan
Balance
 
Accrued
Interest
Receivable
 
Recorded
Investment
 
 
Loan
Balance
 
Accrued
Interest
Receivable
 
Recorded
Investment
Commercial, financial and agricultural *
$
1,014,623

 
$
4,766

 
$
1,019,389

 
 
$
1,053,453

 
$
4,413

 
$
1,057,866

Commercial real estate *
1,150,845

 
4,241

 
1,155,086

 
 
1,167,607

 
4,283

 
1,171,890

Construction real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
136,058

 
423

 
136,481

 
 
125,389

 
401

 
125,790

Mortgage
52,895

 
127

 
53,022

 
 
52,203

 
133

 
52,336

Installment
2,965

 
9

 
2,974

 
 
3,878

 
13

 
3,891

Residential real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
390,651

 
1,069

 
391,720

 
 
393,094

 
1,029

 
394,123

Mortgage
1,094,657

 
1,358

 
1,096,015

 
 
1,110,426

 
1,516

 
1,111,942

HELOC
188,663

 
921

 
189,584

 
 
203,178

 
974

 
204,152

Installment
16,601

 
47

 
16,648

 
 
18,526

 
53

 
18,579

Consumer
1,274,349

 
3,597

 
1,277,946

 
 
1,241,736

 
3,808

 
1,245,544

Leases
2,667

 
23

 
2,690

 
 
2,993

 
36

 
3,029

Total loans
$
5,324,974

 
$
16,581

 
$
5,341,555

 
 
$
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 June 30, 2018 and December 31, 2017:
 
 
 
June 30, 2018
(In thousands)
 
Nonaccrual
Loans
 
Accruing
TDRs
 
Loans Past Due
90 Days or More
and Accruing
 
Total
Nonperforming
Loans
Commercial, financial and agricultural
 
$
29,847

 
$
187

 
$
6

 
$
30,040

Commercial real estate
 
23,313

 
3,215

 
—

 
26,528

Construction real estate:
 
 

 
 

 
 

 
 

Commercial
 
2,187

 
342

 
—

 
2,529

Mortgage
 
—

 
16

 
—

 
16

Installment
 
42

 
15

 
—

 
57

Residential real estate:
 
 

 
 

 
 

 
 

Commercial
 
2,531

 
219

 
—

 
2,750

Mortgage
 
17,508

 
9,644

 
399

 
27,551

HELOC
 
1,772

 
1,230

 
60

 
3,062

Installment
 
464

 
808

 
103

 
1,375

Consumer
 
3,460

 
724

 
910

 
5,094

Total loans
 
$
81,124

 
$
16,400

 
$
1,478

 
$
99,002

 
 
 
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 June 30, 2018 and December 31, 2017.

 
 
June 30, 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
 
$
30,034

 
$
29,943

 
$
91

 
 
$
18,064

 
$
18,039

 
$
25

Commercial real estate
 
26,528

 
26,528

 
—

 
 
18,142

 
18,142

 
—

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
2,529

 
2,529

 
—

 
 
1,324

 
1,324

 
—

Mortgage
 
16

 
—

 
16

 
 
100

 
—

 
100

Installment
 
57

 
—

 
57

 
 
52

 
—

 
52

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
2,750

 
2,750

 
—

 
 
19,059

 
19,059

 
—

Mortgage
 
27,152

 
—

 
27,152

 
 
27,607

 
—

 
27,607

HELOC
 
3,002

 
—

 
3,002

 
 
2,618

 
—

 
2,618

Installment
 
1,272

 
—

 
1,272

 
 
1,202

 
—

 
1,202

Consumer
 
4,184

 
—

 
4,184

 
 
4,065

 
—

 
4,065

Total loans
 
$
97,524

 
$
61,750

 
$
35,774

 
 
$
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 June 30, 2018 and December 31, 2017.
 
 
 
June 30, 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
 
$
29,897

 
$
26,740

 
$
—

 
 
$
19,899

 
$
14,704

 
$
—

Commercial real estate
 
25,145

 
24,469

 
—

 
 
18,974

 
18,060

 
—

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
5,342

 
2,529

 
—

 
 
2,788

 
1,324

 
—

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
3,080

 
2,717

 
—

 
 
19,346

 
19,012

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
With an allowance recorded:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial, financial and agricultural
 
5,256

 
3,203

 
1,366

 
 
5,394

 
3,335

 
681

Commercial real estate
 
2,238

 
2,059

 
27

 
 
137

 
82

 
2

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
—

 
—

 
—

 
 
—

 
—

 
—

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
33

 
33

 
3

 
 
47

 
47

 
1

Consumer
 
—

 
—

 
—

 
 
—

 
—

 
—

Total
 
$
70,991

 
$
61,750

 
$
1,396

 
 
$
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 and six months ended June 30, 2018 and June 30, 2017:

 
Three Months Ended
June 30, 2018
 
 
Three Months Ended
June 30, 2017
(In thousands)
Recorded Investment as of June 30, 2018
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
 
Recorded Investment as of June 30, 2017
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial and agricultural
$
29,943

 
$
27,637

 
$
145

 
 
$
28,475

 
$
23,320

 
$
120

Commercial real estate
26,528

 
20,711

 
201

 
 
21,790

 
21,768

 
240

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
2,529

 
1,510

 
13

 
 
1,636

 
1,843

 
16

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
2,750

 
2,653

 
27

 
 
21,235

 
20,732

 
61

Consumer
—

 
—

 
—

 
 
8

 
9

 
—

Total
$
61,750

 
$
52,511

 
$
386

 
 
$
73,144

 
$
67,672

 
$
437



 
Six Months Ended
June 30, 2018
 
 
Six Months Ended
June 30, 2017
(In thousands)
Recorded Investment as of June 30, 2018
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
 
Recorded Investment as of June 30, 2017
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial and agricultural
$
29,943

 
$
23,402

 
$
319

 
 
$
28,475

 
$
21,789

 
$
340

Commercial real estate
26,528

 
19,519

 
403

 
 
21,790

 
22,504

 
471

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
2,529

 
1,451

 
27

 
 
1,636

 
1,960

 
31

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
2,750

 
7,511

 
58

 
 
21,235

 
21,220

 
406

Consumer
—

 
—

 
—

 
 
8

 
6

 
—

Total
$
61,750

 
$
51,883

 
$
807

 
 
$
73,144

 
$
67,479

 
$
1,248
Aging Of Recorded Investment In Past Due Loans
The following tables present the aging of the recorded investment in past due loans as of June 30, 2018 and December 31, 2017 by class of loan. 

 
June 30, 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
$
3,556

 
$
12,913

 
$
16,469

 
$
1,002,920

 
$
1,019,389

Commercial real estate
156

 
2,104

 
2,260

 
1,152,826

 
1,155,086

Construction real estate:
 

 
 

 
 

 
 

 
 

Commercial
41

 
1,821

 
1,862

 
134,619

 
136,481

Mortgage
506

 
—

 
506

 
52,516

 
53,022

Installment
39

 
17

 
56

 
2,918

 
2,974

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
—

 
1,112

 
1,112

 
390,608

 
391,720

Mortgage
12,214

 
8,169

 
20,383

 
1,075,632

 
1,096,015

HELOC
500

 
768

 
1,268

 
188,316

 
189,584

Installment
190

 
322

 
512

 
16,136

 
16,648

Consumer
9,527

 
1,932

 
11,459

 
1,266,487

 
1,277,946

Leases
—

 
—

 
—

 
2,690

 
2,690

Total loans
$
26,729

 
$
29,158

 
$
55,887

 
$
5,285,668

 
$
5,341,555


(1) Includes $1.5 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans.
(2) Includes $53.4 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 June 30, 2018 and December 31, 2017 for all commercial loans:
 
 
June 30, 2018
(In thousands)
5 Rated
 
6 Rated
 
Nonaccrual and Accruing TDRs
 
Pass-Rated
 
Recorded
Investment
Commercial, financial and agricultural *
$
1,195

 
$
57

 
$
30,034

 
$
988,103

 
$
1,019,389

Commercial real estate *
3,060

 
—

 
26,528

 
1,125,498

 
1,155,086

Construction real estate:
 

 
 

 
 

 
 

 
 

Commercial
21

 
—

 
2,529

 
133,931

 
136,481

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
317

 
46

 
2,750

 
388,607

 
391,720

Leases
—

 
—

 
—

 
2,690

 
2,690

Total commercial loans
$
4,593

 
$
103

 
$
61,841

 
$
2,638,829

 
$
2,705,366

 * 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 June 30, 2018 and June 30, 2017, as well as the recorded investment of these contracts at June 30, 2018 and June 30, 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
June 30, 2018
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
4

 
$
123

 
$
26

 
$
149

Commercial real estate
3

 
455

 
134

 
589

Construction real estate:
 
 
 
 
 
 
 
  Commercial
—

 
—

 
—

 
—

  Mortgage
—

 
—

 
—

 
—

  Installment
2

 
14

 
—

 
14

Residential real estate:
 
 
 
 
 
 
 
  Commercial
—

 
—

 
—

 
—

  Mortgage
4

 
93

 
224

 
317

  HELOC
6

 
409

 
43

 
452

  Installment
4

 
71

 
4

 
75

Consumer
85

 
58

 
720

 
778

Total loans
108

 
$
1,223

 
$
1,151

 
$
2,374


 
Three Months Ended
June 30, 2017
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
3

 
$
—

 
$
164

 
$
164

Commercial real estate
2

 
802

 
—

 
802

Construction real estate:
 
 
 
 
 
 
 
  Commercial
—

 
—

 
—

 
—

  Mortgage
1

 
—

 
8

 
8

  Installment
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
  Commercial
4

 
—

 
282

 
282

  Mortgage
10

 
438

 
506

 
944

  HELOC
9

 
160

 
48

 
208

  Installment
2

 
40

 
—

 
40

Consumer
72

 
37

 
551

 
588

Total loans
103

 
$
1,477

 
$
1,559

 
$
3,036


Of those loans which were modified and determined to be a TDR during the three-month period ended June 30, 2018, $5,000 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 June 30, 2017, $175,000 were on nonaccrual status as of December 31, 2016.

 
Six Months Ended
June 30, 2018
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
8

 
$
123

 
$
70

 
$
193

Commercial real estate
6

 
455

 
265

 
720

Construction real estate:
 
 
 
 
 
 
 
  Commercial
1

 
—

 
—

 
—

  Mortgage
—

 
—

 
—

 
—

  Installment
2

 
14

 
—

 
14

Residential real estate:
 
 
 
 
 
 
 
  Commercial
—

 
—

 
—

 
—

  Mortgage
13

 
93

 
868

 
961

  HELOC
8

 
661

 
130

 
791

  Installment
9

 
104

 
17

 
121

Consumer
135

 
61

 
906

 
967

Total loans
182

 
$
1,511

 
$
2,256

 
$
3,767


 
Six Months Ended
June 30, 2017
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
11

 
$
—

 
$
3,052

 
$
3,052

Commercial real estate
6

 
803

 
380

 
1,183

Construction real estate:
 
 
 
 
 
 
 
  Commercial
—

 
—

 
—

 
—

  Mortgage
1

 
—

 
8

 
8

  Installment
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
  Commercial
5

 
—

 
282

 
282

  Mortgage
19

 
438

 
1,110

 
1,548

  HELOC
12

 
359

 
47

 
406

  Installment
3

 
73

 
—

 
73

Consumer
129

 
52

 
965

 
1,017

Total loans
186

 
$
1,725

 
$
5,844

 
$
7,569


Of those loans which were modified and determined to be a TDR during the six-month period ended June 30, 2018, $0.4 million were on nonaccrual status as of December 31, 2017. Of those loans which were modified and determined to be a TDR during the six-month period ended June 30, 2017, $2.8 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 and six-month periods ended June 30, 2018 and June 30, 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
June 30, 2018
 
 
Three Months Ended
June 30, 2017
 
(In thousands)
Number of
Contracts
 
Recorded
Investment
 
 
Number of
Contracts
 
Recorded
Investment
 
Commercial, financial and agricultural
3

 
$
144

 
 
4

 
$
109

 
Commercial real estate
—

 
—

 
 
4

 
657

 
Construction real estate:
 

 
 

 
 
 
 
 
 
Commercial
—

 
—

 
 
—

 
—

 
Mortgage
—

 
—

 
 
—

 
—

 
Installment
—

 
—

 
 
—

 
—

 
Residential real estate:
 

 
 

 
 
 
 
 
 
Commercial
—

 
—

 
 
1

 
29

 
Mortgage
6

 
600

 
 
10

 
724

 
HELOC
1

 
88

 
 
2

 
10

 
Installment
—

 
—

 
 
1

 
2

 
Consumer
42

 
403

 
 
48

 
579

 
Leases
—

 
—

 
 
—

 
—

 
Total loans
52

 
$
1,235

 
 
70

 
$
2,110

 


Of the $1.2 million in modified TDRs which defaulted during the three-month period ended June 30, 2018, $21,000 were accruing loans and $1.2 million were nonaccrual loans. Of the $2.1 million in modified TDRs which defaulted during the three-month period ended June 30, 2017, $13,000 were accruing loans and $2.1 million were nonaccrual loans.

 
Six Months Ended
June 30, 2018
 
 
Six Months Ended
June 30, 2017
 
(In thousands)
Number of
Contracts
 
Recorded
Investment
 
 
Number of
Contracts
 
Recorded
Investment
 
Commercial, financial and agricultural
3

 
$
144

 
 
4

 
$
109

 
Commercial real estate
—

 
—

 
 
5

 
834

 
Construction real estate:
 
 
 
 
 
 
 
 
 
Commercial
—

 
—

 
 
—

 
—

 
Mortgage
—

 
—

 
 
—

 
—

 
Installment
—

 
—

 
 
—

 
—

 
Residential real estate:
 
 
 
 
 
 
 
 
 
Commercial
—

 
—

 
 
1

 
29

 
Mortgage
7

 
703

 
 
10

 
724

 
HELOC
1

 
88

 
 
2

 
10

 
Installment
—

 
—

 
 
1

 
2

 
Consumer
47

 
445

 
 
56

 
618

 
Leases
—

 
—

 
 
—

 
—

 
Total loans
58

 
$
1,380

 
 
79

 
$
2,326

 

Of the $1.4 million in modified TDRs which defaulted during the six-month period ended June 30, 2018, $21,000 were accruing loans and $1.4 million were nonaccrual loans. Of the $2.3 million in modified TDRs which defaulted during the six-month period ended June 30, 2017, $13,000 were accruing loans and $2.3 million were nonaccrual loans.