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Loans (Tables)
 12 Months Ended
Dec. 31, 2018
Loans and Leases Receivable Disclosure [Abstract]  
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block]
The following table provides changes in accretable discount for loans acquired with deteriorated credit quality:
 
 
For the Year Ended
(in thousands)
 
December 31, 2018
 
December 31, 2017
Balance at the beginning of the period
 
$
—

 
$
—

     Acquisitions
 
176

 
—

     Reductions due to change in projected cash flows
 
—

 
—

     Reclass from non-accretable difference
 
—

 
—

     Transfers out
 
16

 
—

     Accretion
 
16

 
—

Balance at end of period
 
$
144

 
$
—
Schedule of composition of loan portfolio by class of loan
The composition of the loan portfolio, by class of loan, as of December 31, 2018 and December 31, 2017 was as follows:

 
 
12/31/2018
 
 
12/31/2017
(In thousands)
 
Loan Balance
 
Accrued Interest Receivable
 
Recorded Investment
 
 
Loan Balance
 
Accrued Interest Receivable
 
Recorded Investment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural *
 
$
1,072,786

 
$
4,603

 
$
1,077,389

 
 
$
1,053,453

 
$
4,413

 
$
1,057,866

Commercial real estate *
 
1,283,045

 
4,750

 
1,287,795

 
 
1,167,607

 
4,283

 
1,171,890

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
175,300

 
801

 
176,101

 
 
125,389

 
401

 
125,790

Mortgage
 
70,541

 
151

 
70,692

 
 
52,203

 
133

 
52,336

Installment
 
2,433

 
7

 
2,440

 
 
3,878

 
13

 
3,891

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
429,730

 
1,150

 
430,880

 
 
393,094

 
1,029

 
394,123

Mortgage
 
1,134,278

 
1,227

 
1,135,505

 
 
1,110,426

 
1,516

 
1,111,942

HELOC
 
215,283

 
1,159

 
216,442

 
 
203,178

 
974

 
204,152

Installment
 
14,327

 
36

 
14,363

 
 
18,526

 
53

 
18,579

Consumer
 
1,292,136

 
3,756

 
1,295,892

 
 
1,241,736

 
3,808

 
1,245,544

Leases
 
2,273

 
26

 
2,299

 
 
2,993

 
36

 
3,029

Total loans
 
$
5,692,132

 
$
17,666

 
$
5,709,798

 
 
$
5,372,483

 
$
16,659

 
$
5,389,142

* 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 TDRs, and loans past due 90 days or more and still accruing by class of loan as of December 31, 2018 and December 31, 2017:
 


12/31/2018
(In thousands)

Nonaccrual Loans

Accruing TDRs

Loans Past Due 90 Days or More and Accruing

Total Nonperforming Loans
Commercial, financial and agricultural

$
14,998


$
196


$
10


$
15,204

Commercial real estate

25,566


2,860


—


28,426

Construction real estate:












Commercial

1,866


—


—


1,866

Mortgage

—


15


20


35

Installment

19


9


—


28

Residential real estate:












Commercial

2,610


122


—


2,732

Mortgage

16,892


9,100


1,124


27,116

HELOC

2,158


1,028


9


3,195

Installment

468


1,049


24


1,541

Consumer

3,377


843


1,115


5,335

Total loans

$
67,954


$
15,222


$
2,302


$
85,478


 
 
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
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, 2018 and December 31, 2017.
 
 
 
12/31/2018
 
 
12/31/2017
 
(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
 
$
15,194

 
$
15,120

 
$
74

 
 
$
18,064

 
$
18,039

 
$
25

Commercial real estate
 
28,426

 
28,426

 
—

 
 
18,142

 
18,142

 
—

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
1,866

 
1,866

 
—

 
 
1,324

 
1,324

 
—

Mortgage
 
15

 
—

 
15

 
 
100

 
—

 
100

Installment
 
28

 
—

 
28

 
 
52

 
—

 
52

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
2,732

 
2,732

 
—

 
 
19,059

 
19,059

 
—

Mortgage
 
25,992

 
—

 
25,992

 
 
27,607

 
—

 
27,607

HELOC
 
3,186

 
—

 
3,186

 
 
2,618

 
—

 
2,618

Installment
 
1,517

 
—

 
1,517

 
 
1,202

 
—

 
1,202

Consumer
 
4,220

 
—

 
4,220

 
 
4,065

 
—

 
4,065

Total loans
 
$
83,176

 
$
48,144

 
$
35,032

 
 
$
92,233

 
$
56,564

 
$
35,669
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, 2018 and December 31, 2017.
 


12/31/2018
 

12/31/2017
(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

$
8,999


$
3,713


$
—

 

$
19,899


$
14,704


$
—

Commercial real estate

26,663


26,213


—

 

18,974


18,060


—

Construction real estate:









 

 
 
 
 
 
Commercial

4,679

 
1,866

 
—

 

2,788


1,324


—

Residential real estate:



 


 


 

 
 
 
 
 
Commercial

2,691

 
2,374

 
—

 

19,346


19,012


—

With an allowance recorded

 
 
 
 
 
 

 
 
 
 
 
Commercial, financial and agricultural

13,736

 
11,407

 
2,169

 

5,394


3,335


681

Commercial real estate

2,255

 
2,213

 
86

 

137


82


2

Construction real estate:

 
 
 
 
 
 

 
 
 
 
 
Commercial

—

 
—

 
—

 

—


—


—

Residential real estate:

 
 
 
 
 
 

 
 
 
 
 
Commercial

358

 
358

 
18

 

47


47


1

Total

$
59,381


$
48,144


$
2,273

 

$
66,585


$
56,564


$
684
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 subsequent to impairment on loans individually evaluated for impairment as of and for the years ended December 31, 2018, 2017, and 2016:
  
 
 
 
 
Year ended December 31, 2018
(In thousands)
 
Recorded Investment as of December 31, 2018
 
Average recorded investment
 
Interest income recognized
Commercial, financial and agricultural
 
$
15,120

 
$
21,000

 
$
695

Commercial real estate
 
28,426

 
23,024

 
1,047

Construction real estate:
 
 
 
 
 
 
   Commercial
 
1,866

 
1,709

 
34

Residential real estate:
 
 
 
 
 
 
   Commercial
 
2,732

 
5,308

 
114

Consumer
 
—

 
—

 
—

Total
 
$
48,144

 
$
51,041

 
$
1,890



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

 
 
12/31/2018
(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
 
$
4,786

 
$
1,375

 
$
6,161

 
$
1,071,228

 
$
1,077,389

Commercial real estate
 
780

 
3,584

 
4,364

 
1,283,431

 
1,287,795

Construction real estate:
 
 
 
 
 
 
 
 
 
 
Commercial
 
—

 
1,635

 
1,635

 
174,466

 
176,101

Mortgage
 
133

 
20

 
153

 
70,539

 
70,692

Installment
 
28

 
19

 
47

 
2,393

 
2,440

Residential real estate:
 
 
 
 
 
 
 
 
 
 
Commercial
 
683

 
1,104

 
1,787

 
429,093

 
430,880

Mortgage
 
13,210

 
8,553

 
21,763

 
1,113,742

 
1,135,505

HELOC
 
620

 
907

 
1,527

 
214,915

 
216,442

Installment
 
155

 
274

 
429

 
13,934

 
14,363

Consumer
 
9,524

 
2,131

 
11,655

 
1,284,237

 
1,295,892

Leases
 
—

 
—

 
—

 
2,299

 
2,299

Total loans
 
$
29,919

 
$
19,602

 
$
49,521

 
$
5,660,277

 
$
5,709,798


(1) Includes an aggregate of $2.3 million of loans past due 90 days or more and accruing. The remaining are past due, nonaccrual loans.
(2) Includes an aggregate of $50.7 million of nonaccrual loans which are current in regards to contractual principal and interest payments.

 
 
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.
Schedule of recorded investment by loan grade
The tables below present the recorded investment by loan grade at December 31, 2018 and December 31, 2017 for all commercial loans:
 
 
 
12/31/2018
(In thousands)
 
5 Rated
 
6 Rated
 
Nonaccrual and Accruing TDRs
 
Purchased Credit Impaired(1)
 
Pass-Rated
 
Recorded
Investment
Commercial, financial and agricultural*
 
$
11,509

 
$
444

 
$
15,194

 
$
148

 
$
1,050,094

 
$
1,077,389

Commercial real estate*
 
2,707

 
—

 
28,426

 
3,059

 
1,253,603

 
$
1,287,795

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
  Commercial
 
1,560

 
—

 
1,866

 
503

 
172,172

 
$
176,101

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
  Commercial
 
272

 
41

 
2,732

 
251

 
427,584

 
$
430,880

Leases
 
—

 
—

 
—

 
—

 
2,299

 
$
2,299

Total Commercial Loans
 
$
16,048

 
$
485

 
$
48,218

 
$
3,961

 
$
2,905,752

 
$
2,974,464


* 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.
(1) Excludes loans acquired with deteriorated credit quality which are nonaccrual or TDRs due to additional credit deterioration or modification post acquisition. These loans had a recorded investment of $475,000 at December 31, 2018.

 
 
12/31/2017
(In thousands)
 
5 Rated
 
6 Rated
 
Nonaccrual and Accruing TDRs
 
Purchased Credit Impaired
 
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
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, 2018, 2017 and 2016 as well as the recorded investment of these contracts at December 31, 2018, 2017, and 2016. 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, 2018
(In thousands)
 
Number of Contracts
 
Accruing
 
Nonaccrual
 
Recorded Investment
Commercial, financial and agricultural
 
21

 
$
28

 
$
829

 
$
857

Commercial real estate
 
17

 
414

 
3,172

 
3,586

Construction real estate:
 
 
 
 
 
 
 
 
Commercial
 
1

 
—

 
—

 
—

Mortgage
 
—

 
—

 
—

 
—

Installment
 
2

 
10

 
—

 
10

Residential real estate:
 
 
 
 
 
 
 
 
Commercial
 
3

 
54

 
363

 
417

Mortgage
 
25

 
842

 
854

 
1,696

HELOC
 
21

 
558

 
86

 
644

Installment
 
19

 
459

 
69

 
528

Consumer
 
283

 
204

 
1,249

 
1,453

Total loans
 
392

 
$
2,569

 
$
6,622

 
$
9,191


 
 
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


 
Of those loans which were modified and determined to be a TDR during the year ended December 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 year ended December 31, 2017, $1.8 million were on nonaccrual status as of December 31, 2016. Of those loans which were modified and determined to be a TDR during the year ended December 31, 2016, $9.4 million were on nonaccrual status as of December 31, 2015.

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, 2018, December 31, 2017, and December 31, 2016. 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, 2018
 
Year ended
December 31, 2017
 
Year ended
December 31, 2016
(In thousands)
 
Number of Contracts
 
Recorded Investment
 
Number of Contracts
 
Recorded Investment
 
Number of Contracts
 
Recorded Investment
Commercial, financial and agricultural
 
3

 
$
104

 
—

 
$
—

 
7

 
$
419

Commercial real estate
 
—

 
—

 
2

 
82

 
5

 
843

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
—

 
—

 
—

 
—

 
—

 
—

Mortgage
 
—

 
—

 
—

 
—

 
—

 
—

Installment
 
—

 
—

 
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
—

 
—

 
2

 
117

 
7

 
848

Mortgage
 
8

 
518

 
6

 
467

 
15

 
1,201

HELOC
 
2

 
32

 
4

 
194

 
—

 
—

Installment
 
1

 
29

 
—

 
—

 
1

 
3

Consumer
 
59

 
636

 
50

 
375

 
62

 
484

Leases
 
—

 
—

 
—

 
—

 
—

 
—

Total loans
 
73

 
$
1,319

 
$
64

 
$
1,235

 
97

 
$
3,798