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Loans (Tables)
 3 Months Ended
Mar. 31, 2024
Loans and Leases Receivable Disclosure [Line Items]  
Composition Of Loan Portfolio By Class Of Loan
The composition of the loan portfolio at March 31, 2024 and at December 31, 2023 was as follows:
 
March 31, 2024December 31, 2023
(In thousands)Amortized CostAmortized Cost
Commercial, financial and agricultural: (1)
Commercial, financial and agricultural (1)
$1,273,035 $1,292,025 
PPP loans1,800 2,116 
Overdrafts1,635 1,499 
Commercial real estate (1)
1,900,968 1,875,993 
Construction real estate:  
Commercial238,721 209,226 
Retail103,118 95,873 
Residential real estate:  
Commercial617,002 609,410 
Mortgage1,251,340 1,239,861 
HELOC177,017 174,349 
Installment6,005 5,904 
Consumer:
Consumer1,923,867 1,943,869 
Check loans1,900 2,067 
Leases28,597 24,029 
Total$7,525,005 $7,476,221 
Allowance for credit losses(85,084)(83,745)
Net loans$7,439,921 $7,392,476 
(1) Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that were 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 amortized cost of nonaccrual loans and loans past due 90 days or more and still accruing, by class of loan, at March 31, 2024 and December 31, 2023.
 
 March 31, 2024
(In thousands)Nonaccrual
Loans		Loans Past Due
90 Days
 or More
and Accruing		Total
Nonperforming
Loans
Commercial, financial and agricultural:
Commercial, financial and agricultural$26,989 $— $26,989 
PPP loans— — — 
Overdrafts— — — 
Commercial real estate21,968 — 21,968 
Construction real estate:   
Commercial1,949 — 1,949 
Retail148 251 399 
Residential real estate:   
Commercial3,833 — 3,833 
Mortgage12,233 586 12,819 
HELOC784 26 810 
Installment17 — 17 
Consumer:
Consumer2,213 707 2,920 
Check loans— — — 
Leases55 — 55 
Total loans$70,189 $1,570 $71,759 
 
 December 31, 2023
(In thousands)Nonaccrual
Loans		Loans Past Due 90 Days or More and AccruingTotal
Nonperforming
Loans
Commercial, financial and agricultural
Commercial, financial and agricultural$21,284 $14 $21,298 
PPP loans— — — 
Overdrafts— — — 
Commercial real estate20,740 — 20,740 
Construction real estate:  
Commercial504 — 504 
Retail— 26 26 
Residential real estate:   
Commercial2,670 — 2,670 
Mortgage11,786 206 11,992 
HELOC815 — 815 
Installment16 — 16 
Consumer
Consumer2,371 613 2,984 
Check loans— — — 
Leases73 — 73 
Total loans$60,259 $859 $61,118 
Financing Receivable, Nonaccrual
The following tables provide additional detail on nonaccrual loans and the related ACL, by class of loan, at March 31, 2024 and December 31, 2023:

March 31, 2024
(In thousands)Nonaccrual Loans With No ACLNonaccrual Loans With an ACLRelated ACL
Commercial, financial and agricultural:
Commercial, financial and agricultural$15,492 $11,497 $5,000 
PPP loans— — — 
Overdrafts— — — 
Commercial real estate21,078 890 35 
Construction real estate:
Commercial1,949 — — 
Retail— 148 148 
Residential real estate:
Commercial3,833 — — 
Mortgage— 12,233 126 
HELOC— 784 25 
Installment— 17 1 
Consumer
Consumer— 2,213 583 
Check loans— — — 
Leases55 — — 
Total loans$42,407 $27,782 $5,918 
December 31, 2023
(In thousands)Nonaccrual Loans With No ACLNonaccrual Loans With an ACLRelated ACL
Commercial, financial and agricultural:
Commercial, financial and agricultural$8,634 $12,650 $4,985 
PPP loans— — — 
Overdrafts— — — 
Commercial real estate20,175 565 2 
Construction real estate:
Commercial504 — — 
Retail— — — 
Residential real estate:
Commercial2,670 — — 
Mortgage— 11,786 117 
HELOC— 815 25 
Installment— 16 — 
Consumer
Consumer— 2,371 672 
Check loans— — — 
Leases73 — — 
Total$32,056 $28,203 $5,801 
Schedule of impaired financing receivables additional info
The following tables provide the amortized cost basis of collateral-dependent loans by class of loan, at March 31, 2024 and at December 31, 2023:

 March 31, 2024
(In thousands)Real EstateBusiness AssetsOtherTotal
Commercial, financial and agricultural
Commercial, financial and agricultural$8,319 $9,867 $8,766 $26,952 
Commercial real estate22,968 512 — 23,480 
Construction real estate:
Commercial2,564 — — 2,564 
Residential real estate:
Commercial4,062 — — 4,062 
Mortgage83 — — 83 
Leases— 55 — 55 
Total loans$37,996 $10,434 $8,766 $57,196 
 December 31, 2023
(In thousands)Real EstateBusiness AssetsOtherTotal
Commercial, financial and agricultural
Commercial, financial and agricultural$8,137 $9,377 $3,737 $21,251 
Commercial real estate22,096 514 — 22,610 
Construction real estate:
Commercial1,130 — — 1,130 
Residential real estate:
Commercial2,910 — — 2,910 
Mortgage76 — — 76 
Leases— 73 — 73 
Total loans$34,349 $9,964 $3,737 $48,050 

Interest income on nonaccrual loans individually evaluated for impairment is recognized on a cash basis only when Park expects to receive the entire recorded investment in the loans. The following table presents interest income recognized on nonaccrual loans for the three-month periods ended March 31, 2024 and 2023:

Interest Income Recognized
(In thousands)Three Months Ended
March 31, 2024		Three Months Ended
March 31, 2023
Commercial, financial and agricultural:
Commercial, financial and agricultural$264 $605 
PPP loans— — 
Overdrafts— — 
Commercial real estate255 160 
Construction real estate:
Commercial37 32 
Retail— — 
Residential real estate:
Commercial48 26 
Mortgage70 49 
HELOC5 8 
Installment— 1 
Consumer:
Consumer31 19 
Check loans— — 
Leases— — 
Total loans$710 $900 
Financing Receivable, Past Due
The following tables present the aging of the amortized cost in past due loans at March 31, 2024 and at December 31, 2023 by class of loan:

 March 31, 2024
(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 
Amortized Cost
Commercial, financial and agricultural:
Commercial, financial and agricultural$3,927 $11,334 $15,261 $1,257,774 $1,273,035 
PPP loans2 — 2 1,798 1,800 
Overdrafts— — — 1,635 1,635 
Commercial real estate125 1,559 1,684 1,899,284 1,900,968 
Construction real estate:
Commercial— — — 238,721 238,721 
Retail26 399 425 102,693 103,118 
Residential real estate:
Commercial12 219 231 616,771 617,002 
Mortgage7,847 6,025 13,872 1,237,468 1,251,340 
HELOC571 609 1,180 175,837 177,017 
Installment— 3 3 6,002 6,005 
Consumer:
Consumer7,510 1,079 8,589 1,915,278 1,923,867 
Check loans3 — 3 1,897 1,900 
Leases— — — 28,597 28,597 
Total loans$20,023 $21,227 $41,250 $7,483,755 $7,525,005 
(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 of $50.5 million of nonaccrual loans which were current with respect to contractual principal and interest payments.
 December 31, 2023
(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 
Amortized Cost
Commercial, financial and agricultural
Commercial, financial and agricultural$522 $11,629 $12,151 $1,279,874 $1,292,025 
PPP loans9 — 9 2,107 2,116 
Overdrafts— — — 1,499 1,499 
Commercial real estate1,656 1,839 3,495 1,872,498 1,875,993 
Construction real estate:
Commercial— 205 205 209,021 209,226 
Retail554 26 580 95,293 95,873 
Residential real estate:
Commercial295 219 514 608,896 609,410 
Mortgage9,831 6,450 16,281 1,223,580 1,239,861 
HELOC788 611 1,399 172,950 174,349 
Installment52 — 52 5,852 5,904 
Consumer
Consumer8,974 1,183 10,157 1,933,712 1,943,869 
Check loans5 — 5 2,062 2,067 
Leases— — — 24,029 24,029 
Total loans$22,686 $22,162 $44,848 $7,431,373 $7,476,221 
(1) Includes an aggregate of $0.9 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans.
(2) Includes an aggregate of $39.0 million of nonaccrual loans which were current with respect to contractual principal and interest payments.
Financing Receivable Credit Quality Indicators
Based on the most recent analysis performed, the risk category of commercial loans by class of loans at March 31, 2024 and at December 31, 2023 are detailed in the tables below. Also included in the tables detailing loan balances are gross charge offs for the three months ended March 31, 2024 and for the year ended December 31, 2023.

March 31, 2024Term Loans Amortized Cost Basis by Origination Year
(In thousands)20242023202220212020PriorRevolving Loans Amortized Cost BasisTotal
Commercial, financial and agricultural: Commercial, financial and agricultural (1)
Risk rating
Pass$47,722 $190,793 $139,203 $106,098 $86,410 $76,150 $583,652 $1,230,028 
Special Mention786 1,017 2,744 285 626 75 10,423 15,956 
Substandard48 350 456 1,096 2,085 668 9,615 14,318 
Doubtful— — 441 35 1,810 7,964 2,483 12,733 
Total $48,556 $192,160 $142,844 $107,514 $90,931 $84,857 $606,173 $1,273,035 
Current period gross charge-offs$— $— $— $5 $— $— $— $5 
Commercial, financial and agricultural: PPP
Risk rating
Pass$— $— $— $823 $977 $— $— $1,800 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total$— $— $— $823 $977 $— $— $1,800 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Commercial real estate (1)
Risk rating
Pass$87,302 $274,310 $314,750 $323,474 $294,762 $530,032 $20,595 $1,845,225 
Special Mention1,088 2,005 3,494 6,515 6,435 12,721 — 32,258 
Substandard31 2,482 2,601 2,469 2,404 9,860 3,096 22,943 
Doubtful— — — — — 542 — 542 
Total$88,421 $278,797 $320,845 $332,458 $303,601 $553,155 $23,691 $1,900,968 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Construction real estate: Commercial
Risk rating
Pass$25,878 $89,993 $83,543 $3,414 $18,075 $3,646 $10,936 $235,485 
Special Mention— 300 372 — — — — 672 
Substandard— 615 1,899 50 — — — 2,564 
Doubtful— — — — — — — — 
Total$25,878 $90,908 $85,814 $3,464 $18,075 $3,646 $10,936 $238,721 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
March 31, 2024Term Loans Amortized Cost Basis by Origination Year
(In thousands)20242023202220212020PriorRevolving Loans Amortized Cost BasisTotal
Residential Real Estate: Commercial
Risk rating
Pass$24,393 $127,964 $100,789 $101,026 $114,211 $114,599 $22,952 $605,934 
Special Mention149 364 519 1,900 2,162 1,876 90 7,060 
Substandard438 162 392 154 1,181 1,461 220 4,008 
Doubtful— — — — — — — — 
Total$24,980 $128,490 $101,700 $103,080 $117,554 $117,936 $23,262 $617,002 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Leases
Risk rating
Pass$10,916 $6,774 $3,916 $1,893 $1,629 $644 $— $25,772 
Special Mention29 683 1,475 339 239 5 — 2,770 
Substandard— — — — — 55 — 55 
Doubtful— — — — — — — — 
Total$10,945 $7,457 $5,391 $2,232 $1,868 $704 $— $28,597 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Total Commercial Loans
Risk rating
Pass$196,211 $689,834 $642,201 $536,728 $516,064 $725,071 $638,135 $3,944,244 
Special Mention2,052 4,369 8,604 9,039 9,462 14,677 10,513 58,716 
Substandard517 3,609 5,348 3,769 5,670 12,044 12,931 43,888 
Doubtful— — 441 35 1,810 8,506 2,483 13,275 
Total$198,780 $697,812 $656,594 $549,571 $533,006 $760,298 $664,062 $4,060,123 
Current period gross charge-offs$— $— $— $5 $— $— $— $5 
(1) 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, 2023Term Loans Amortized Cost Basis by Origination Year
(In thousands)20232022202120202019PriorRevolving Loans Amortized Cost BasisTotal
Commercial, financial and agricultural: Commercial, financial and agricultural (1)
Risk rating
Pass$204,601 $149,386 $118,992 $93,495 $38,205 $45,814 $600,301 $1,250,794 
Special Mention530 1,549 435 128 252 2 16,260 19,156 
Substandard149 894 1,041 1,133 143 582 7,427 11,369 
Doubtful— — 39 1,771 96 7,848 952 10,706 
Total $205,280 $151,829 $120,507 $96,527 $38,696 $54,246 $624,940 $1,292,025 
Current period gross charge-offs$— $13 $73 $— $5 $52 $19 $162 
Commercial, financial and agricultural: PPP
Risk rating
Pass$— $— $925 $1,191 $— $— $— $2,116 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total$— $— $925 $1,191 $— $— $— $2,116 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Commercial real estate (1)
Risk rating
Pass$278,922 $322,096 $334,452 $318,473 $204,740 $347,389 $17,174 $1,823,246 
Special Mention2,092 2,951 4,637 7,629 — 13,043 98 30,450 
Substandard1,828 1,589 2,509 2,668 3,406 7,495 1,584 21,079 
Doubtful889 — — — — 329 — 1,218 
Total$283,731 $326,636 $341,598 $328,770 $208,146 $368,256 $18,856 $1,875,993 
Current period gross charge-offs$224 $— $— $— $— $530 $— $754 
Construction real estate: Commercial
Risk rating
Pass$89,283 $77,988 $7,480 $18,195 $1,090 $2,718 $11,342 $208,096 
Special Mention— — — — — — — — 
Substandard831 236 63 — — — — 1,130 
Doubtful— — — — — — — — 
Total$90,114 $78,224 $7,543 $18,195 $1,090 $2,718 $11,342 $209,226 
Current period gross charge-offs$546 $— $— $— $— $— $— $546 
December 31, 2023Term Loans Amortized Cost Basis by Origination Year
(In thousands)20222021202020192018PriorRevolving Loans Amortized Cost BasisTotal
Residential Real Estate: Commercial
Risk rating
Pass$128,589 $104,008 $105,225 $117,442 $49,797 $71,489 $23,535 $600,085 
Special Mention— 333 623 1,964 914 1,578 — 5,412 
Substandard195 560 159 1,192 16 1,601 190 3,913 
Doubtful— — — — — — — — 
Total$128,784 $104,901 $106,007 $120,598 $50,727 $74,668 $23,725 $609,410 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Leases
Risk rating
Pass$11,440 $4,404 $2,197 $1,941 $356 $623 $— $20,961 
Special Mention731 1,564 391 297 10 2 — 2,995 
Substandard— — — — 67 6 — 73 
Doubtful— — — — — — — — 
Total$12,171 $5,968 $2,588 $2,238 $433 $631 $— $24,029 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Total Commercial Loans
Risk rating
Pass$712,835 $657,882 $569,271 $550,737 $294,188 $468,033 $652,352 $3,905,298 
Special Mention3,353 6,397 6,086 10,018 1,176 14,625 16,358 58,013 
Substandard3,003 3,279 3,772 4,993 3,632 9,684 9,201 37,564 
Doubtful889 — 39 1,771 96 8,177 952 11,924 
Total$720,080 $667,558 $579,168 $567,519 $299,092 $500,519 $678,863 $4,012,799 
Current period gross charge-offs$770 $13 $73 $— $5 $582 $19 $1,462 
(1) 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.
March 31, 2024Term Loans Amortized Cost Basis by Origination Year
(In thousands)20242023202220212020PriorRevolving Loans Amortized Cost BasisTotal
Commercial, financial and agricultural: Overdrafts
Performing$1,635 $— $— $— $— $— $— $1,635 
Nonperforming
— — — — — — — — 
Total $1,635 $— $— $— $— $— $— $1,635 
Current period gross charge-offs$215 $— $— $— $— $— $— $215 

Construction Real Estate: Retail
Performing$4,442 $63,367 $17,289 $7,235 $4,094 $6,218 $74 $102,719 
Nonperforming
— 148 — 251 — — — 399 
Total $4,442 $63,515 $17,289 $7,486 $4,094 $6,218 $74 $103,118 
Current period gross charge-offs$— $— $— $— $— $— $— $— 

Residential Real Estate: Mortgage
Performing$38,674 $206,167 $261,025 $209,948 $173,087 $349,620 $— $1,238,521 
Nonperforming
— 196 1,577 1,337 738 8,971 — 12,819 
Total $38,674 $206,363 $262,602 $211,285 $173,825 $358,591 $— $1,251,340 
Current period gross charge-offs$— $— $— $— $— $— $— $— 

Residential Real Estate: HELOC
Performing$— $147 $427 $352 $63 $1,930 $173,288 $176,207 
Nonperforming
— 20 — — — 614 176 810 
Total $— $167 $427 $352 $63 $2,544 $173,464 $177,017 
Current period gross charge-offs$— $— $— $— $— $1 $— $1 
Residential Real Estate: Installment
Performing$422 $2,091 $156 $— $— $3,319 $— $5,988 
Nonperforming
— — — — 2 15 — 17 
Total $422 $2,091 $156 $— $2 $3,334 $— $6,005 
Current period gross charge-offs$— $— $— $— $— $— $— $— 

Consumer: Consumer
Performing$155,368 $594,174 $564,502 $288,467 $190,160 $126,692 $1,584 $1,920,947 
Nonperforming— 441 887 576 347 665 4 2,920 
Total $155,368 $594,615 $565,389 $289,043 $190,507 $127,357 $1,588 $1,923,867 
Current period gross charge-offs$— $620 $1,107 $891 $246 $134 $2 $3,000 
March 31, 2024Term Loans Amortized Cost Basis by Origination Year
(In thousands)20242023202220212020PriorRevolving Loans Amortized Cost BasisTotal
Consumer: Check loans
Performing$— $— $— $— $— $— $1,900 $1,900 
Nonperforming
— — — — — — — — 
Total $— $— $— $— $— $— $1,900 $1,900 
Current period gross charge-offs$— $— $— $— $— $— $19 $19 

Total Consumer Loans
Performing$200,541 $865,946 $843,399 $506,002 $367,404 $487,779 $176,846 $3,447,917 
Nonperforming
— 805 2,464 2,164 1,087 10,265 180 16,965 
Total $200,541 $866,751 $845,863 $508,166 $368,491 $498,044 $177,026 $3,464,882 
Current period gross charge-offs$215 $620 $1,107 $891 $246 $135 $21 $3,235 

December 31, 2023Term Loans Amortized Cost Basis by Origination Year
(In thousands)20232022202120202019PriorRevolving Loans Amortized Cost BasisTotal
Commercial, financial and agricultural: Overdrafts
Performing$1,499 $— $— $— $— $— $— $1,499 
Nonperforming
— — — — — — — — 
Total 1,499 $— $— $— $— $— $— $1,499 
Current period gross charge-offs$1,064 $— $— $— $— $— $— $1,064 

Construction Real Estate: Retail
Performing$52,904 $24,219 $7,709 $4,251 $3,604 $2,891 $269 $95,847 
Nonperforming
— — — 26 — — — 26 
Total $52,904 $24,219 $7,709 $4,277 $3,604 $2,891 $269 $95,873 
Current period gross charge-offs$— $— $— $— $— $— $— $— 

Residential Real Estate: Mortgage
Performing$209,315 $259,076 $218,417 $177,518 $80,627 $282,916 $— $1,227,869 
Nonperforming
197 1,144 1,172 406 581 8,492 — 11,992 
Total $209,512 $260,220 $219,589 $177,924 $81,208 $291,408 $— $1,239,861 
Current period gross charge-offs$— $— $— $— $— $35 $— $35 

Residential Real Estate: HELOC
Performing$99 $205 $379 $98 $221 $1,838 $170,694 $173,534 
Nonperforming
— — — — 32 603 180 815 
Total $99 $205 $379 $98 $253 $2,441 $170,874 $174,349 
Current period gross charge-offs$— $— $— $— $— $9 $— $9 
December 31, 2023Term Loans Amortized Cost Basis by Origination Year
(In thousands)20232022202120202019PriorRevolving Loans Amortized Cost BasisTotal
Residential Real Estate: Installment
Performing$2,225 $162 $— $3 $144 $3,354 $— $5,888 
Nonperforming
— — — — — 16 — 16 
Total $2,225 $162 $— $3 $144 $3,370 $— $5,904 
Current period gross charge-offs$— $— $— $— $— $— $— $— 

Consumer: Consumer
Performing$627,985 $613,019 $319,161 $214,714 $81,446 $65,955 $18,605 $1,940,885 
Nonperforming
395 891 654 435 216 389 4 2,984 
Total $628,380 $613,910 $319,815 $215,149 $81,662 $66,344 $18,609 $1,943,869 
Current period gross charge-offs$560 $3,517 $2,371 $763 $545 $480 $6 $8,242 

Consumer: Check loans
Performing$— $— $— $— $— $— $2,067 $2,067 
Nonperforming
— — — — — — — — 
Total $— $— $— $— $— $— $2,067 $2,067 
Current period gross charge-offs$— $— $— $— $— $— $51 $51 

Total Consumer Loans
Performing$894,027 $896,681 $545,666 $396,584 $166,042 $356,954 $191,635 $3,447,589 
Nonperforming
592 2,035 1,826 867 829 9,500 184 15,833 
Total $894,619 $898,716 $547,492 $397,451 $166,871 $366,454 $191,819 $3,463,422 
Current period gross charge-offs$1,624 $3,517 $2,371 $763 $545 $524 $57 $9,401 
TDR Number Of Contracts Modified And Recorded Investment
The following tables present the amortized cost basis of loans at March 31, 2024 and 2023 that were both experiencing financial difficulty and modified during the three months ended March 31, 2024 and 2023 by class and type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial difficulty as compared to the amortized cost basis of each class of financing receivable is also presented below.

Three Months Ended
March 31, 2024
(Dollars in thousands)Principal ForgivenessPayment DelayTerm ExtensionInterest Rate ReductionCombination Term Extension and Interest Rate ReductionOtherTotalPercent of Total Class of Financing Receivable
Commercial, financial and agricultural:
Commercial, financial and agricultural $— $54 $12,144 $2 $— $— $12,200 0.96 %
PPP loans— — — — — — — — %
Overdrafts— — — — — — — — %
Commercial real estate — 161 4,522 344 122 — 5,149 0.27 %
Construction real estate:
Commercial— — — — — — — — %
Retail— — — — — — — — %
Residential real estate:
Commercial— — 438 — 220 — 658 0.11 %
Mortgage— — 48 — — — 48 — %
HELOC— — — — — — — — %
Installment— — 57 — — — 57 0.95 %
Consumer:
Consumer— — — 8 — — 8 — %
Check loans— — — — — — — — %
Leases— — — — — — — — %
Total$— $215 $17,209 $354 $342 $— $18,120 0.24 %
Three Months Ended
March 31, 2023
(Dollars in thousands)Principal ForgivenessPayment DelayTerm ExtensionInterest Rate ReductionCombination Term Extension and Interest Rate ReductionOtherTotalPercent of Total Class of Financing Receivable
Commercial, financial and agricultural:
Commercial, financial and agricultural $— $— $3,104 $— $— $— $3,104 0.25 %
PPP loans— — — — — — — — %
Overdrafts— — — — — — — — %
Commercial real estate — — — — — — — — %
Construction real estate:
Commercial— — 988 — — — 988 0.57 %
Retail— — — — — — — — %
Residential real estate:
Commercial— — 163 — — — 163 0.03 %
Mortgage— — — — — — — — %
HELOC— — — — — — — — %
Installment— — — — 64 — 64 1.61 %
Consumer:
Consumer— — — 15 — — 15 — %
Check loans— — — — — — — — %
Leases— — — — — — — — %
Total$— $— $4,255 $15 $64 $— $4,334 0.06 %
Park had commitments to lend $1.4 million related to to loans which were both experiencing financial difficulty and modified during the three months ended March 31, 2024.
The following tables present the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three months ended March 31, 2024 and 2023:

Three Months Ended
March 31, 2024
(Dollars in thousands)Principal ForgivenessWeighted Average Interest Rate ReductionWeighted Average Term Extension (years)Weighted Average Payment Delay (years)
Commercial, financial and agricultural:
Commercial, financial and agricultural$— (0.50)%0.30.4
PPP loans— — %0.00.0
Overdrafts— — %0.00.0
Commercial real estate— (1.90)%3.00.4
Construction real estate:
Commercial— — %0.00.0
Retail— — %0.00.0
Residential real estate:
Commercial— (1.00)%3.00.0
Mortgage— — %7.80.0
HELOC— — %0.00.0
Installment— — %7.80.0
Consumer:
Consumer— (7.54)%0.00.0
Check loans— — %0.00.0
Leases— — %0.00.0
Total$— (1.68)%1.20.4
Three Months Ended
March 31, 2023
(Dollars in thousands)Principal ForgivenessWeighted Average Interest Rate ReductionWeighted Average Term Extension (years)
Commercial, financial and agricultural:
Commercial, financial and agricultural$— — %0.3
PPP loans— — %0.0
Overdrafts— — %0.0
Commercial real estate— — %0.0
Construction real estate:
Commercial— — %0.2
Retail— — %0.0
Residential real estate:
Commercial— — %0.5
Mortgage— — %0.0
HELOC— — %0.0
Installment— (1.13)%10.0
Consumer:
Consumer— (4.19)%0.0
Check loans— — %0.0
Leases— — %0.0
Total$— (1.69)%0.4

Park closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of Park's modification efforts. There were $3.5 million in loans modified to borrowers experiencing financial difficulty that had been modified during the twelve months ended March 31, 2024 that were 60-89 days past due as of March 31, 2024 in the Commercial, financial, and agricultural loan portfolio segment. There were $9,000 in loans modified to borrowers experiencing financial difficulty that had been modified during the previous twelve months that were 30-59 days past due as of March 31, 2024 in the Commercial, financial, and agricultural loan portfolio segment. All other loans modified to borrowers experiencing financial difficulty during the twelve months ended March 31, 2024 were less than 30 days past due as of March 31, 2024. There were no loans modified to borrowers experiencing financial difficulty that had been modified during the three months ended March 31, 2023 that were greater than 30 days past due as of March 31, 2023.
The following table presents the amortized cost basis of loans that had a payment default subsequent to modification during the three months ended March 31, 2024 and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty. For this table, a loan is considered to be in default when it becomes 30 days contractually past due under the modified terms:

Three Months Ended
March 31, 2024
Term ExtensionInterest Rate ReductionCombination Term Extension and Interest Rate ReductionOther
Commercial, financial and agricultural:
Commercial, financial and agricultural$3,507 $— $— $9 
PPP loans— — — — 
Overdrafts— — — — 
Commercial real estate— — — — 
Construction real estate:
Commercial— — — — 
Retail— — — — 
Residential real estate:— — — 
Commercial— — — — 
Mortgage— — — — 
HELOC— — — — 
Installment19 — — — 
Consumer:
Consumer— — — — 
Check loans— — — — 
Leases— — — — 
Total loans$3,526 $— $— $9 
There were no loans that had a payment default during the three months ended March 31, 2023 and were modified to borrowers experiencing financial difficulty in the three months prior to that default.

Upon the determination that a modified loan (or a portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged-off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amounts.