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Loans (Tables)
 3 Months Ended
Mar. 31, 2019
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items]  
Composition Of Loan Portfolio By Class Of Loan The composition of the loan portfolio, by class of loan, as of March 31, 2019 and December 31, 2018 was as follows:
 
 
March 31, 2019
 
 
December 31, 2018
(In thousands)
Loan
Balance
 
Accrued
Interest
Receivable
 
Recorded
Investment
 
 
Loan
Balance
 
Accrued
Interest
Receivable
 
Recorded
Investment
Commercial, financial and agricultural *
$
1,086,690

 
$
5,574

 
$
1,092,264

 
 
$
1,072,786

 
$
4,603

 
$
1,077,389

Commercial real estate *
1,326,894

 
4,829

 
1,331,723

 
 
1,283,045

 
4,750

 
1,287,795

Construction real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
168,880

 
760

 
169,640

 
 
175,300

 
801

 
176,101

Mortgage
71,855

 
189

 
72,044

 
 
70,541

 
151

 
70,692

Installment
2,325

 
9

 
2,334

 
 
2,433

 
7

 
2,440

Residential real estate:
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
429,637

 
1,303

 
430,940

 
 
429,730

 
1,150

 
430,880

Mortgage
1,127,986

 
1,801

 
1,129,787

 
 
1,134,278

 
1,227

 
1,135,505

HELOC
208,313

 
1,190

 
209,503

 
 
215,283

 
1,159

 
216,442

Installment
13,634

 
40

 
13,674

 
 
14,327

 
36

 
14,363

Consumer
1,302,429

 
3,854

 
1,306,283

 
 
1,292,136

 
3,756

 
1,295,892

Leases
2,117

 
24

 
2,141

 
 
2,273

 
26

 
2,299

Total loans
$
5,740,760

 
$
19,573

 
$
5,760,333

 
 
$
5,692,132

 
$
17,666

 
$
5,709,798

* 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, 2019 and December 31, 2018:
 
 
 
March 31, 2019
(In thousands)
 
Nonaccrual
Loans
 
Accruing
TDRs
 
Loans Past Due
90 Days or More
and Accruing
 
Total
Nonperforming
Loans
Commercial, financial and agricultural
 
$
14,678

 
$
221

 
$
45

 
$
14,944

Commercial real estate
 
28,114

 
3,024

 
—

 
31,138

Construction real estate:
 
 

 
 

 
 

 
 

Commercial
 
2,401

 
478

 
—

 
2,879

Mortgage
 
—

 
8

 
80

 
88

Installment
 
11

 
8

 
—

 
19

Residential real estate:
 
 

 
 

 
 

 
 

Commercial
 
1,992

 
54

 
—

 
2,046

Mortgage
 
16,435

 
9,010

 
582

 
26,027

HELOC
 
1,848

 
954

 
155

 
2,957

Installment
 
505

 
1,174

 
—

 
1,679

Consumer
 
3,191

 
898

 
727

 
4,816

Total loans
 
$
69,175

 
$
15,829

 
$
1,589

 
$
86,593

 
 
 
December 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
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, 2019 and December 31, 2018.

 
 
March 31, 2019
 
 
December 31, 2018
(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
 
$
14,899

 
$
14,844

 
$
55

 
 
$
15,194

 
$
15,120

 
$
74

Commercial real estate
 
31,138

 
31,138

 
—

 
 
28,426

 
28,426

 
—

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
2,879

 
2,879

 
—

 
 
1,866

 
1,866

 
—

Mortgage
 
8

 
—

 
8

 
 
15

 
—

 
15

Installment
 
19

 
—

 
19

 
 
28

 
—

 
28

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
2,046

 
2,046

 
—

 
 
2,732

 
2,732

 
—

Mortgage
 
25,445

 
—

 
25,445

 
 
25,992

 
—

 
25,992

HELOC
 
2,802

 
—

 
2,802

 
 
3,186

 
—

 
3,186

Installment
 
1,679

 
—

 
1,679

 
 
1,517

 
—

 
1,517

Consumer
 
4,089

 
—

 
4,089

 
 
4,220

 
—

 
4,220

Total loans
 
$
85,004

 
$
50,907

 
$
34,097

 
 
$
83,176

 
$
48,144

 
$
35,032
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, 2019 and December 31, 2018.
 
 
 
March 31, 2019
 
 
December 31, 2018
(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
 
$
4,221

 
$
3,488

 
$
—

 
 
$
8,999

 
$
3,713

 
$
—

Commercial real estate
 
29,876

 
29,429

 
—

 
 
26,663

 
26,213

 
—

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
5,693

 
2,879

 
—

 
 
4,679

 
1,866

 
—

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
2,048

 
1,993

 
—

 
 
2,691

 
2,374

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
With an allowance recorded:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial, financial and agricultural
 
18,238

 
11,356

 
2,403

 
 
13,736

 
11,407

 
2,169

Commercial real estate
 
1,709

 
1,709

 
58

 
 
2,255

 
2,213

 
86

Construction real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
—

 
—

 
—

 
 
—

 
—

 
—

Residential real estate:
 
 

 
 

 
 

 
 
 

 
 

 
 

Commercial
 
53

 
53

 
7

 
 
358

 
358

 
18

Total
 
$
61,838

 
$
50,907

 
$
2,468

 
 
$
59,381

 
$
48,144

 
$
2,273
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, 2019 and March 31, 2018:

 
Three Months Ended
March 31, 2019
 
 
Three Months Ended
March 31, 2018
(In thousands)
Recorded Investment as of March 31, 2019
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
 
Recorded Investment as of March 31, 2018
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Commercial, financial and agricultural
$
14,844

 
$
14,924

 
$
47

 
 
$
27,050

 
$
20,078

 
$
174

Commercial real estate
31,138

 
28,851

 
271

 
 
18,983

 
18,193

 
202

Construction real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
2,879

 
2,239

 
12

 
 
1,393

 
1,377

 
14

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
   Commercial
2,046

 
2,588

 
20

 
 
2,896

 
11,215

 
31

Total
$
50,907

 
$
48,602

 
$
350

 
 
$
50,322

 
$
50,863

 
$
421
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, 2019 and December 31, 2018 by class of loan. 

 
March 31, 2019
(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
$
1,428

 
$
2,290

 
$
3,718

 
$
1,088,546

 
$
1,092,264

Commercial real estate
57

 
3,886

 
3,943

 
1,327,780

 
1,331,723

Construction real estate:
 

 
 

 
 

 
 

 
 

Commercial
368

 
2,299

 
2,667

 
166,973

 
169,640

Mortgage
254

 
80

 
334

 
71,710

 
72,044

Installment
18

 
11

 
29

 
2,305

 
2,334

Residential real estate:
 

 
 

 
 

 
 

 
 

Commercial
124

 
873

 
997

 
429,943

 
430,940

Mortgage
9,913

 
8,524

 
18,437

 
1,111,350

 
1,129,787

HELOC
462

 
975

 
1,437

 
208,066

 
209,503

Installment
98

 
338

 
436

 
13,238

 
13,674

Consumer
6,035

 
1,679

 
7,714

 
1,298,569

 
1,306,283

Leases
—

 
—

 
—

 
2,141

 
2,141

Total loans
$
18,757

 
$
20,955

 
$
39,712

 
$
5,720,621

 
$
5,760,333


(1) Includes an aggregate of $1.6 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans.
(2) Includes an aggregate off $49.8 million of nonaccrual loans which were current in regards to contractual principal and interest payments.

 
December 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 loans were past due nonaccrual loans.
(2) Includes an aggregate of $50.7 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, 2019 and December 31, 2018 for all commercial loans:
 
 
March 31, 2019
(In thousands)
5 Rated
 
6 Rated
 
Nonaccrual and Accruing TDRs
 
Purchase Credit Impaired (1)
 
Pass-Rated
 
Recorded
Investment
Commercial, financial and agricultural *
$
12,980

 
$
543

 
$
14,899

 
$
330

 
$
1,063,512

 
$
1,092,264

Commercial real estate *
4,412

 
9

 
31,138

 
3,012

 
1,293,152

 
1,331,723

Construction real estate:
 

 
 

 
 

 
 
 
 

 
 

Commercial
493

 
2

 
2,879

 
—

 
166,266

 
169,640

Residential real estate:
 

 
 

 
 

 
 
 
 

 
 

Commercial
1,761

 
104

 
2,046

 
30

 
426,999

 
430,940

Leases
—

 
—

 
—

 
—

 
2,141

 
2,141

Total commercial loans
$
19,646

 
$
658

 
$
50,962

 
$
3,372

 
$
2,952,070

 
$
3,026,708

 * 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.
(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 $924,000 at March 31, 2019.

 
December 31, 2018
(In thousands)
5 Rated
 
6 Rated
 
Nonaccrual and Accruing TDRs
 
Purchase 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
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, 2019 and March 31, 2018, as well as the recorded investment of these contracts at March 31, 2019 and March 31, 2018. 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, 2019
(In thousands)
Number of
Contracts
 
Accruing
 
Nonaccrual
 
Total
Recorded
Investment
Commercial, financial and agricultural
5

 
$
—

 
$
472

 
$
472

Commercial real estate
2

 
—

 
2,215

 
2,215

Construction real estate:
 
 
 
 
 
 
 
  Commercial
1

 
480

 
—

 
480

  Mortgage
—

 
—

 
—

 
—

  Installment
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
  Commercial
—

 
—

 
—

 
—

  Mortgage
8

 
54

 
510

 
564

  HELOC
3

 
—

 
81

 
81

  Installment
8

 
94

 
95

 
189

Consumer
69

 
24

 
535

 
559

Total loans
96

 
$
652

 
$
3,908

 
$
4,560


 
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


Of those loans which were modified and determined to be a TDR during the three-month period ended March 31, 2019, $0.7 million were on nonaccrual status as of December 31, 2018. 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.
Recorded Investment In Financing Receivable Modified As TDR Within 12 Months The following table presents the recorded investment in loans 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, 2019 and March 31, 2018, 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, 2019
 
 
Three Months Ended
March 31, 2018
 
(In thousands)
Number of
Contracts
 
Recorded
Investment
 
 
Number of
Contracts
 
Recorded
Investment
 
Commercial, financial and agricultural
6

 
$
153

 
 
3

 
$
207

 
Commercial real estate
—

 
—

 
 
1

 
114

 
Construction real estate:
 

 
 

 
 
 
 
 
 
Commercial
—

 
—

 
 
—

 
—

 
Mortgage
—

 
—

 
 
—

 
—

 
Installment
—

 
—

 
 
—

 
—

 
Residential real estate:
 

 
 

 
 
 
 
 
 
Commercial
—

 
—

 
 
1

 
17

 
Mortgage
3

 
68

 
 
7

 
536

 
HELOC
5

 
68

 
 
3

 
174

 
Installment
1

 
28

 
 
—

 
—

 
Consumer
40

 
343

 
 
41

 
329

 
Leases
—

 
—

 
 
—

 
—

 
Total loans
55

 
$
660

 
 
56

 
$
1,377

 


Of the $0.7 million in modified TDRs which defaulted during the three-month period ended March 31, 2019, $9,000 were accruing loans and $0.7 million were nonaccrual loans. 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.