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Loans and Allowances for Credit Losses
 12 Months Ended
Dec. 31, 2014
Loans Receivable, Net [Abstract]  
Loans [Text Block]
(4) Loans and Allowances for Credit Losses

The portfolio segments of the loan portfolio are as follows (in thousands):

 
 
December 31, 2014
 
December 31, 2013
 
 
Fixed
Rate
 
Variable
Rate
 
Non-accrual
 
Total
 
Fixed
Rate
 
Variable
Rate
 
Non-accrual
 
Total
Commercial
 
$
1,736,976

 
$
7,345,167

 
$
13,527

 
$
9,095,670

 
$
1,637,620

 
$
6,288,841

 
$
16,760

 
$
7,943,221

Commercial real estate
 
721,513

 
1,988,080

 
18,557

 
2,728,150

 
770,908

 
1,603,595

 
40,850

 
2,415,353

Residential mortgage
 
1,698,620

 
202,771

 
48,121

 
1,949,512

 
1,783,614

 
226,092

 
42,320

 
2,052,026

Consumer
 
102,865

 
331,274

 
566

 
434,705

 
135,494

 
244,951

 
1,219

 
381,664

Total
 
$
4,259,974

 
$
9,867,292

 
$
80,771

 
$
14,208,037

 
$
4,327,636

 
$
8,363,479

 
$
101,149

 
$
12,792,264

Accruing loans past due (90 days)1
 
 

 
 

 
 

 
$
125

 
 

 
 

 
 

 
$
1,415

Foregone interest on nonaccrual loans
 
 
 
 
 
 
 
$
8,170

 
 
 
 
 
 
 
$
9,815

1 
Excludes residential mortgage loans guaranteed by agencies of the U.S. government.

At December 31, 2014, loans to businesses and individuals with collateral primarily located in Texas totaled $4.9 billion or 34% of the total loan portfolio. Loans to businesses and individuals with collateral primarily located in Oklahoma totaled $3.4 billion or 24% of our total loan portfolio. Loans for which the collateral location is not relevant, such as unsecured loans and reserve-based energy loans, are distributed by the borrower’s primary operating location. These geographic concentrations subject the loan portfolio to the general economic conditions within these areas. At December 31, 2013, loans to businesses and individuals with collateral primarily located in Texas totaled $4.3 billion or 34% of the loan portfolio and loans to businesses and individuals with collateral primarily located in Oklahoma totaled $3.3 billion or 26% of the loan portfolio.

Commercial

Commercial loans represent loans for working capital, facilities acquisition or expansion, purchases of equipment and other needs of commercial customers primarily located within our geographical footprint. Commercial loans are underwritten individually and represent on-going relationships based on a thorough knowledge of the customer, the customer’s industry and market. While commercial loans are generally secured by the customer’s assets including real property, inventory, accounts receivable, operating equipment, interest in mineral rights and other property and may also include personal guarantees of the owners and related parties, the primary source of repayment of the loans is the on-going cash flow from operations of the customer’s business. Inherent lending risk is centrally monitored on a continuous basis from underwriting throughout the life of the loan for compliance with commercial lending policies.

At December 31, 2014, commercial loans with collateral primarily located in Texas totaled $3.2 billion or 36% of the commercial loan portfolio segment and commercial loans with collateral primarily located in Oklahoma totaled $2.0 billion or 22% of the commercial loan portfolio segment. The commercial loan portfolio segment is further divided into loan classes. The energy loan class totaled $2.9 billion or 20% of total loans at December 31, 2014, including $2.5 billion of outstanding loans to energy producers. Approximately 59% of committed production loans are secured by properties primarily producing oil and 41% are secured by properties producing natural gas. The services loan class totaled $2.5 billion at December 31, 2014. Approximately $1.2 billion of loans in the services category consist of loans with individual balances of less than $10 million. Businesses included in the services class include governmental, educational, utilities, not-for-profit and professional/technical services.

At December 31, 2013, commercial loans with collateral primarily located in Texas totaled $2.8 billion or 36% of the commercial loan portfolio segment and commercial loans with collateral primarily located in Oklahoma totaled $1.9 billion or 23% of the commercial loan portfolio segment. The energy loan class totaled $2.4 billion and the services loan class totaled $2.3 billion. Approximately $1.1 billion of loans in the services category consisted of loans with individual balances of less than $10 million.

Commercial Real Estate

Commercial real estate loans are for the construction of buildings or other improvements to real estate and property held by borrowers for investment purposes primarily within our geographical footprint. We require collateral values in excess of the loan amounts, demonstrated cash flows in excess of expected debt service requirements, equity investment in the project and a portion of the project already sold, leased or permanent financing already secured. The expected cash flows from all significant new or renewed income producing property commitments are stress tested to reflect the risks in varying interest rates, vacancy rates and rental rates. As with commercial loans, inherent lending risks are centrally monitored on a continuous basis from underwriting throughout the life of the loan for compliance with applicable lending policies.

At December 31, 2014, 34% of commercial real estate loans are secured by properties primarily located in the Dallas and Houston areas of Texas. An additional 16% of commercial real estate loans are secured by properties located primarily in the Tulsa and Oklahoma City metropolitan areas of Oklahoma. At December 31, 2013, 32% of commercial real estate loans were secured by properties in Texas, 19% of commercial real estate loans were secured by properties in Oklahoma and 11% of commercial real estate loans were secured by properties located primarily in Albuquerque, New Mexico.

Residential Mortgage and Consumer

Residential mortgage loans provide funds for our customers to purchase or refinance their primary residence or to borrow against the equity in their home. Residential mortgage loans are secured by a first or second mortgage on the customer’s primary residence. Consumer loans include direct loans secured by and for the purchase of automobiles, recreational and marine equipment as well as other unsecured loans. Consumer loans also include indirect automobile loans made through primary dealers. Residential mortgage and consumer loans are made in accordance with underwriting policies we believe to be conservative and are fully documented. Credit scoring is assessed based on significant credit characteristics including credit history, residential and employment stability. Residential mortgage loans retained in the Company’s portfolio are primarily composed of various mortgage programs to support customer relationships including jumbo mortgage loans, non-builder construction loans and special loan programs for high net worth individuals and certain professionals. Jumbo loans may be fixed or variable rate and are fully amortizing. Jumbo loans generally conform to government sponsored entity standards, except that the loan size exceeds maximums required under these standards. These loans generally require a minimum FICO score of 720 and a maximum debt-to-income ratio (“DTI”) of 38%. Loan-to-value (“LTV”) ratios are tiered from 60% to 100%, depending on the market. Special mortgage programs include fixed and variable fully amortizing loans tailored to the needs of certain healthcare professionals. Variable rate loans are fully indexed at origination and may have fixed rates for three to ten years, then adjust annually thereafter. 

At December 31, 2014 and 2013, residential mortgage loans included $206 million and $182 million, respectively, of loans guaranteed by U.S. government agencies previously sold into GNMA mortgage pools. These loans either have been repurchased or are eligible to be repurchased by the Company when certain defined delinquency criteria are met. Although payments on these loans generally are past due more than 90 days, interest continues to accrue based on the government guarantee.

Home equity loans totaled $774 million at December 31, 2014 and $808 million at December 31, 2013. At December 31, 2014, 69% of the home equity loan portfolio was comprised of first lien loans and 31% of the home equity portfolio was comprised of junior lien loans. Junior lien loans were distributed 71% to amortizing term loans and 29% to revolving lines of credit. At December 31, 2013, 70% of the home equity portfolio was comprised of first lien loans and 30% of the home equity loan portfolio was comprised of junior lien loans. Junior lien loans were distributed 74% to amortizing term loans and 26% to revolving lines of credit. Home equity loans generally require a minimum FICO score of 700 and a maximum DTI of 40%. The maximum loan amount available for our home equity loan products is generally $400 thousand. Revolving loans have a 5 year revolving period followed by 15 year term of amortizing repayments. Interest-only home equity loans may not be extended for any additional revolving time. All other home equity loans may be extended at management's discretion for an additional 5 year revolving term subject to an update of certain credit information.

At December 31, 2014, 38% of residential mortgage loans are secured by properties located in Oklahoma, 28% of residential mortgage loans are secured by properties located in Texas, 12% of residential mortgage are secured by properties located in New Mexico and 10% of residential mortgage are secured by properties located in Colorado. At December 31, 2013, 38% of residential mortgage loans were secured by properties in Oklahoma, 27% of residential mortgage were secured by properties in Texas and 10% of residential mortgage loans are secured by properties in New Mexico.

Credit Commitments
 
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of conditions established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. At December 31, 2014, outstanding commitments totaled $8.3 billion. Because some commitments are expected to expire before being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. BOK Financial uses the same credit policies in making commitments as it does loans.

The amount of collateral obtained, if deemed necessary, is based upon management’s credit evaluation of the borrower.

Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Because the credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loan commitments, BOK Financial uses the same credit policies in evaluating the creditworthiness of the customer. Additionally, BOK Financial uses the same evaluation process in obtaining collateral on standby letters of credit as it does for loan commitments. The term of these standby letters of credit is defined in each commitment and typically corresponds with the underlying loan commitment. At December 31, 2014, outstanding standby letters of credit totaled $448 million. Commercial letters of credit are used to facilitate customer trade transactions with the drafts being drawn when the underlying transaction is consummated. At December 31, 2014, outstanding commercial letters of credit totaled $6.7 million.

Allowances for Credit Losses

BOK Financial maintains an allowance for loan losses and an accrual for off-balance sheet credit risk. The accrual for off-balance sheet credit risk is maintained at a level that is appropriate to cover estimated losses associated with credit instruments that are not currently recognized as assets such as loan commitments, standby letters of credit or guarantees. As discussed in greater detail in Note 7, the Company also has separate accruals related to off-balance sheet credit risk related to residential mortgage loans previously sold with full or partial recourse and for residential mortgage loans sold to government sponsored agencies under standard representations and warranties.

The allowance for loan losses consists of specific allowances attributed to impaired loans that have not yet been charged down to amounts we expect to recover, general allowances for unimpaired loans based on estimated loss rates by loan class and nonspecific allowances based on general economic conditions, concentration in loans with large balances and other relevant factors.

The activity in the allowance for loan losses and the accrual for off-balance sheet credit risk related to loan commitments and standby letters of credit for the year ended December 31, 2014 is summarized as follows (in thousands):
 
 
Commercial
 
Commercial Real Estate
 
Residential Mortgage
 
Consumer
 
Nonspecific Allowance
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
79,180

 
$
41,573

 
$
29,465

 
$
6,965

 
$
28,213

 
$
185,396

Provision for loan losses
 
9,561

 
(4,084
)
 
(3,559
)
 
(892
)
 
(168
)
 
858

Loans charged off
 
(3,569
)
 
(2,047
)
 
(4,448
)
 
(6,168
)
 
—

 
(16,232
)
Recoveries
 
5,703

 
7,003

 
2,000

 
4,328

 
—

 
19,034

Ending balance
 
$
90,875

 
$
42,445

 
$
23,458

 
$
4,233

 
$
28,045

 
$
189,056

 
 
 
 
 
 
 
 
 
 
 
 
 
Accrual for off-balance sheet credit risk:
 
 

 
 

 
 

 
 

 
 

 
 

Beginning balance
 
$
119

 
$
1,876

 
$
90

 
$
3

 
$
—

 
$
2,088

Provision for off-balance sheet credit risk
 
356

 
(1,169
)
 
(62
)
 
17

 
—

 
(858
)
Ending balance
 
$
475

 
$
707

 
$
28

 
$
20

 
$
—

 
$
1,230

 
 
 
 
 
 
 
 
 
 
 
 
 
Total provision for credit losses
 
$
9,917

 
$
(5,253
)
 
$
(3,621
)
 
$
(875
)
 
$
(168
)
 
$
—




The activity in the allowance for loan losses and the accrual for off-balance sheet credit risk related to loan commitments and standby letters of credit for the year ended December 31, 2013 is summarized as follows (in thousands):

 
 
Commercial
 
Commercial Real Estate
 
Residential Mortgage
 
Consumer
 
Nonspecific Allowance
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
65,280

 
$
54,884

 
$
41,703

 
$
9,453

 
$
44,187

 
$
215,507

Provision for loan losses
 
12,747

 
(16,886
)
 
(8,043
)
 
83

 
(15,974
)
 
(28,073
)
Loans charged off
 
(6,335
)
 
(5,845
)
 
(5,753
)
 
(7,349
)
 
—

 
(25,282
)
Recoveries
 
7,488

 
9,420

 
1,558

 
4,778

 
—

 
23,244

Ending balance
 
$
79,180

 
$
41,573

 
$
29,465

 
$
6,965

 
$
28,213

 
$
185,396

 
 
 
 
 
 
 
 
 
 
 
 
 
Accrual for off-balance sheet credit risk:
 
 

 
 

 
 

 
 

 
 

 
 

Beginning balance
 
$
475

 
$
1,353

 
$
78

 
$
9

 
$
—

 
$
1,915

Provision for off-balance sheet credit risk
 
(356
)
 
523

 
12

 
(6
)
 
—

 
173

Ending balance
 
$
119

 
$
1,876

 
$
90

 
$
3

 
$
—

 
$
2,088

 
 
 
 
 
 
 
 
 
 
 
 
 
Total provision for credit losses
 
$
12,391

 
$
(16,363
)
 
$
(8,031
)
 
$
77

 
$
(15,974
)
 
$
(27,900
)


The activity in the allowance for loan losses and the accrual for off-balance sheet credit risk related to loan commitments and standby letters of credit for the year ended December 31, 2012 is summarized as follows (in thousands):

 
 
Commercial
 
Commercial Real Estate
 
Residential Mortgage
 
Consumer
 
Nonspecific Allowance
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
83,443

 
$
67,034

 
$
46,476

 
$
10,178

 
$
46,350

 
$
253,481

Provision for loan losses
 
(14,950
)
 
(6,214
)
 
3,346

 
5,327

 
(2,163
)
 
(14,654
)
Loans charged off
 
(9,341
)
 
(11,642
)
 
(10,047
)
 
(11,108
)
 
—

 
(42,138
)
Recoveries
 
6,128

1 
5,706

 
1,928

 
5,056

 
—

 
18,818

Ending balance
 
$
65,280

 
$
54,884

 
$
41,703

 
$
9,453

 
$
44,187

 
$
215,507

 
 
 
 
 
 
 
 
 
 
 
 
 
Accrual for off-balance sheet credit risk:
 
 

 
 

 
 

 
 

 
 

 
 

Beginning balance
 
$
7,906

 
$
1,250

 
$
91

 
$
14

 
$
—

 
$
9,261

Provision for off-balance sheet credit risk
 
(7,431
)
 
103

 
(13
)
 
(5
)
 
—

 
(7,346
)
Ending balance
 
$
475

 
$
1,353

 
$
78

 
$
9

 
$
—

 
$
1,915

 
 
 
 
 
 
 
 
 
 
 
 
 
Total provision for credit losses
 
$
(22,381
)
 
$
(6,111
)
 
$
3,333

 
$
5,322

 
$
(2,163
)
 
$
(22,000
)

1 
Includes $7.1 million of negative recovery related to a refund of a settlement between BOK Financial and the City of Tulsa invalidated by the Oklahoma Supreme Court.



The allowance for loan losses and recorded investment of the related loans by portfolio segment for each impairment measurement method at December 31, 2014 is as follows (in thousands):

 
 
Collectively Measured
for Impairment
 
Individually Measured
for Impairment
 
Total
 
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related
Allowance
Commercial
 
$
9,082,143

 
$
90,709

 
$
13,527

 
$
166

 
$
9,095,670

 
$
90,875

Commercial real estate
 
2,709,593

 
42,404

 
18,557

 
41

 
2,728,150

 
42,445

Residential mortgage
 
1,901,391

 
23,353

 
48,121

 
105

 
1,949,512

 
23,458

Consumer
 
434,139

 
4,233

 
566

 
—

 
434,705

 
4,233

Total
 
14,127,266

 
160,699

 
80,771

 
312

 
14,208,037

 
161,011

 
 
 
 
 
 
 
 
 
 
 
 
 
Nonspecific allowance
 
—

 
—

 
—

 
—

 
—

 
28,045

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
14,127,266

 
$
160,699

 
$
80,771

 
$
312

 
$
14,208,037

 
$
189,056



The allowance for loan losses and recorded investment of the related loans by portfolio segment for each impairment measurement method at December 31, 2013 is as follows (in thousands):

 
 
Collectively Measured
for Impairment
 
Individually Measured
for Impairment
 
Total
 
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related
Allowance
Commercial
 
$
7,926,461

 
$
78,607

 
$
16,760

 
$
573

 
$
7,943,221

 
$
79,180

Commercial real estate
 
2,374,503

 
41,440

 
40,850

 
133

 
2,415,353

 
41,573

Residential mortgage
 
2,010,483

 
29,217

 
41,543

 
248

 
2,052,026

 
29,465

Consumer
 
380,445

 
6,965

 
1,219

 
—

 
381,664

 
6,965

Total
 
12,691,892

 
156,229

 
100,372

 
954

 
12,792,264

 
157,183

 
 
 
 
 
 
 
 
 
 
 
 
 
Nonspecific allowance
 
—

 
—

 
—

 
—

 
—

 
28,213

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
12,691,892

 
$
156,229

 
$
100,372

 
$
954

 
$
12,792,264

 
$
185,396




Credit Quality Indicators

The Company utilizes loan class and risk grading as primary credit quality indicators. Substantially all commercial and commercial real estate loans and certain residential mortgage and consumer loans are risk graded based on a quarterly evaluation of the borrowers’ ability to repay the loans. Certain commercial loans and most residential mortgage and consumer loans are small, homogeneous pools that are not risk graded. 

The allowance for loan losses and recorded investment of the related loans by portfolio segment for risk graded and non-risk graded loans at December 31, 2014 is as follows (in thousands):

 
 
Internally Risk Graded
 
Non-Graded
 
Total
 
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related
Allowance
Commercial
 
$
9,073,030

 
$
90,085

 
$
22,640

 
$
790

 
$
9,095,670

 
$
90,875

Commercial real estate
 
2,728,150

 
42,445

 
—

 
—

 
2,728,150

 
42,445

Residential mortgage
 
192,303

 
2,996

 
1,757,209

 
20,462

 
1,949,512

 
23,458

Consumer
 
343,227

 
1,506

 
91,478

 
2,727

 
434,705

 
4,233

Total
 
12,336,710

 
137,032

 
1,871,327

 
23,979

 
14,208,037

 
161,011

 
 
 
 
 
 
 
 
 
 
 
 
 
Nonspecific allowance
 
—

 
—

 
—

 
—

 
—

 
28,045

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
12,336,710

 
$
137,032

 
$
1,871,327

 
$
23,979

 
$
14,208,037

 
$
189,056

 
The allowance for loan losses and recorded investment of the related loans by portfolio segment for risk graded and non-risk graded loans at December 31, 2013 is as follows (in thousands):

 
 
Internally Risk Graded
 
Non-Graded
 
Total
 
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related
Allowance
Commercial
 
$
7,888,219

 
$
78,250

 
$
55,002

 
$
930

 
$
7,943,221

 
$
79,180

Commercial real estate
 
2,415,353

 
41,573

 
—

 
—

 
2,415,353

 
41,573

Residential mortgage
 
220,635

 
5,481

 
1,831,391

 
23,984

 
2,052,026

 
29,465

Consumer
 
265,533

 
2,657

 
116,131

 
4,308

 
381,664

 
6,965

Total
 
10,789,740

 
127,961

 
2,002,524

 
29,222

 
12,792,264

 
157,183

 
 
 
 
 
 
 
 
 
 
 
 
 
Nonspecific allowance
 
—

 
—

 
—

 
—

 
—

 
28,213

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
10,789,740

 
$
127,961

 
$
2,002,524

 
$
29,222

 
$
12,792,264

 
$
185,396



Loans are considered to be performing if they are in compliance with the original terms of the agreement which is consistent with the regulatory guideline of “pass.” Performing also includes loans considered to be “other loans especially mentioned” by regulatory guidelines. Other loans especially mentioned are in compliance with the original terms of the agreement but may have a weakness that deserves management’s close attention. Performing loans also include past due residential mortgages that are guaranteed by agencies of the U.S. government.

The risk grading process identified certain criticized loans as potential problem loans. These loans have a well-defined weakness (e.g. inadequate debt service coverage or liquidity or marginal capitalization; repayment may depend on collateral or other risk mitigation) that may jeopardize liquidation of the debt and represent a greater risk due to deterioration in the financial condition of the borrower. This is consistent with the regulatory guideline for “substandard.” Because the borrowers are still performing in accordance with the original terms of the loan agreements, these loans were not placed in nonaccruing status. Known information does, however, cause concern as to the borrowers’ continued compliance with current repayment terms. Nonaccruing loans represent loans for which full collection of principal and interest in accordance with the original terms of the loan agreements is uncertain. This is substantially the same criteria used to determine whether a loan is impaired and includes certain loans considered “substandard” and all loans considered “doubtful” by regulatory guidelines.

The following table summarizes the Company’s loan portfolio at December 31, 2014 by the risk grade categories (in thousands): 
 
 
Internally Risk Graded
 
Non-Graded
 
 
 
 
Performing
 
Potential Problem
 
Nonaccruing
 
Performing
 
Nonaccruing
 
Total
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
Energy
 
$
2,843,093

 
$
15,919

 
$
1,416

 
$
—

 
$
—

 
$
2,860,428

Services
 
2,497,888

 
15,140

 
5,201

 
—

 
—

 
2,518,229

Wholesale/retail
 
1,301,026

 
8,141

 
4,149

 
—

 
—

 
1,313,316

Manufacturing
 
527,951

 
4,193

 
450

 
—

 
—

 
532,594

Healthcare
 
1,449,024

 
4,565

 
1,380

 
—

 
—

 
1,454,969

Other commercial and industrial
 
389,378

 
3,293

 
823

 
22,532

 
108

 
416,134

Total commercial
 
9,008,360

 
51,251

 
13,419

 
22,532

 
108

 
9,095,670

 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 

 
 

 
 

 
 

Residential construction and land development
 
127,437

 
10,855

 
5,299

 
—

 
—

 
143,591

Retail
 
662,335

 
628

 
3,926

 
—

 
—

 
666,889

Office
 
411,548

 
576

 
3,420

 
—

 
—

 
415,544

Multifamily
 
691,053

 
13,245

 
—

 
—

 
—

 
704,298

Industrial
 
428,817

 
—

 
—

 
—

 
—

 
428,817

Other commercial real estate
 
362,375

 
724

 
5,912

 
—

 
—

 
369,011

Total commercial real estate
 
2,683,565

 
26,028

 
18,557

 
—

 
—

 
2,728,150

 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 

 
 

 
 

 
 

Permanent mortgage
 
187,520

 
1,773

 
3,010

 
745,813

 
31,835

 
969,951

Permanent mortgages guaranteed by U.S. government agencies
 
—

 
—

 
—

 
202,238

 
3,712

 
205,950

Home equity
 
—

 
—

 
—

 
764,047

 
9,564

 
773,611

Total residential mortgage
 
187,520

 
1,773

 
3,010

 
1,712,098

 
45,111

 
1,949,512

 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer
 
343,041

 
19

 
167

 
91,079

 
399

 
434,705

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
12,222,486

 
$
79,071

 
$
35,153

 
$
1,825,709

 
$
45,618

 
$
14,208,037


The following table summarizes the Company’s loan portfolio at December 31, 2013 by the risk grade categories (in thousands): 
 
 
Internally Risk Graded
 
Non-Graded
 
 
 
 
Performing
 
Potential Problem
 
Nonaccruing
 
Performing
 
Nonaccruing
 
Total
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
Energy
 
$
2,347,519

 
$
2,381

 
$
1,860

 
$
—

 
$
—

 
$
2,351,760

Services
 
2,265,984

 
11,304

 
4,922

 
—

 
—

 
2,282,210

Wholesale/retail
 
1,191,791

 
2,604

 
6,969

 
—

 
—

 
1,201,364

Manufacturing
 
381,794

 
9,365

 
592

 
—

 
—

 
391,751

Healthcare
 
1,272,626

 
34

 
1,586

 
—

 
—

 
1,274,246

Other commercial and industrial
 
381,394

 
4,736

 
758

 
54,929

 
73

 
441,890

Total commercial
 
7,841,108

 
30,424

 
16,687

 
54,929

 
73

 
7,943,221

 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 

 
 

 
 

 
 

Residential construction and land development
 
173,488

 
15,393

 
17,377

 
—

 
—

 
206,258

Retail
 
579,506

 
1,684

 
4,857

 
—

 
—

 
586,047

Office
 
403,951

 
1,157

 
6,391

 
—

 
—

 
411,499

Multifamily
 
562,800

 
13,695

 
7

 
—

 
—

 
576,502

Industrial
 
243,625

 
—

 
252

 
—

 
—

 
243,877

Other commercial real estate
 
371,628

 
7,576

 
11,966

 
—

 
—

 
391,170

Total commercial real estate
 
2,334,998

 
39,505

 
40,850

 
—

 
—

 
2,415,353

 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 

 
 

 
 

 
 

Permanent mortgage
 
210,142

 
3,283

 
7,210

 
815,040

 
27,069

 
1,062,744

Permanent mortgages guaranteed by U.S. government agencies
 
—

 
—

 
—

 
180,821

 
777

 
181,598

Home equity
 
—

 
—

 
—

 
800,420

 
7,264

 
807,684

Total residential mortgage
 
210,142

 
3,283

 
7,210

 
1,796,281

 
35,110

 
2,052,026

 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer
 
264,536

 
795

 
202

 
115,114

 
1,017

 
381,664

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
10,650,784

 
$
74,007

 
$
64,949

 
$
1,966,324

 
$
36,200

 
$
12,792,264





Impaired Loans

Loans are considered to be impaired when it is probable that the Company will not be able to collect all amounts due according to the contractual terms of the loan agreement. This includes all nonaccruing loans, all loans modified in a troubled debt restructuring and all loans repurchased from GNMA pool.

A summary of impaired loans follows (in thousands):
 
As of December 31, 2014
 
Year Ended
 
 
 
Recorded Investment
 
 
 
December 31, 2014
 
Unpaid
Principal
Balance
 
Total
 
With No
Allowance
 
With Allowance
 
Related Allowance
 
Average Recorded
Investment
 
Interest Income Recognized
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy
$
1,444

 
$
1,416

 
$
1,416

 
$
—

 
$
—

 
$
1,638

 
$
—

Services
8,068

 
5,201

 
4,487

 
714

 
157

 
5,061

 
—

Wholesale/retail
9,457

 
4,149

 
4,117

 
32

 
9

 
5,559

 
—

Manufacturing
737

 
450

 
450

 
—

 
—

 
521

 
—

Healthcare
2,432

 
1,380

 
1,380

 
—

 
—

 
1,483

 
—

Other commercial and industrial
8,604

 
931

 
931

 
—

 
—

 
881

 
—

Total commercial
30,742

 
13,527

 
12,781

 
746

 
166

 
15,143

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 

 
 

 
 

 
 

 
 

 
 

 
 

Residential construction and land development
10,071

 
5,299

 
5,192

 
107

 
23

 
11,338

 
—

Retail
5,406

 
3,926

 
3,926

 
—

 
—

 
4,392

 
—

Office
5,959

 
3,420

 
3,420

 
—

 
—

 
4,905

 
—

Multifamily
—

 
—

 
—

 
—

 
—

 
3

 
—

Industrial
—

 
—

 
—

 
—

 
—

 
126

 
—

Other commercial real estate
11,954

 
5,912

 
5,739

 
173

 
18

 
8,939

 
—

Total commercial real estate
33,390

 
18,557

 
18,277

 
280

 
41

 
29,703

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 

 
 

 
 

 
 

 
 

 
 

 
 

Permanent mortgage
43,463

 
34,845

 
34,675

 
170

 
105

 
34,561

 
1,418

Permanent mortgage guaranteed by U.S. government agencies1
212,684

 
205,950

 
205,950

 
—

 
—

 
194,017

 
8,342

Home equity
9,767

 
9,564

 
9,564

 
—

 
—

 
8,414

 
—

Total residential mortgage
265,914

 
250,359

 
250,189

 
170

 
105

 
236,992

 
9,760

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer
584

 
566

 
566

 
—

 
—

 
893

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
$
330,630

 
$
283,009

 
$
281,813

 
$
1,196

 
$
312

 
$
282,731

 
$
9,760

1 
All permanent mortgage loans guaranteed by U.S. government agencies are considered impaired as we do not expect full collection of contractual principal and interest. At December 31, 2014, $3.7 million of these loans are nonaccruing and $202 million are accruing based on the guarantee by U.S. government agencies.

Generally, no interest income is recognized on impaired loans until all principal balances, including amounts charged-off, have been recovered.


 
As of December 31, 2013
 
Year Ended
 
 
 
 
Recorded Investment
 
 
 
December 31, 2013
 
 
Unpaid
Principal
Balance
 
Total
 
With No
Allowance
 
With Allowance
 
Related Allowance
 
Average Recorded
Investment
 
Interest Income Recognized
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy
 
$
1,860

 
$
1,860

 
$
1,860

 
$
—

 
$
—

 
$
2,160

 
$
—

Services
 
6,486

 
4,922

 
3,791

 
1,131

 
516

 
8,506

 
—

Wholesale/retail
 
11,009

 
6,969

 
6,937

 
32

 
9

 
5,023

 
—

Manufacturing
 
746

 
592

 
592

 
—

 
—

 
1,300

 
—

Healthcare
 
2,193

 
1,586

 
1,538

 
48

 
48

 
2,376

 
—

Other commercial and industrial
 
8,532

 
831

 
831

 
—

 
—

 
1,249

 
—

Total commercial
 
30,826

 
16,760

 
15,549

 
1,211

 
573

 
20,614

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 

 
 

 
 

 
 
 
 
Residential construction and land development
 
20,804

 
17,377

 
17,050

 
327

 
107

 
21,754

 
—

Retail
 
6,133

 
4,857

 
4,857

 
—

 
—

 
6,487

 
—

Office
 
7,848

 
6,391

 
6,383

 
8

 
8

 
6,610

 
—

Multifamily
 
7

 
7

 
7

 
—

 
—

 
1,357

 
—

Industrial
 
252

 
252

 
252

 
—

 
—

 
2,110

 
—

Other commercial real estate
 
14,593

 
11,966

 
11,779

 
187

 
18

 
12,421

 
—

Total commercial real estate
 
49,637

 
40,850

 
40,328

 
522

 
133

 
50,739

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 

 
 

 
 

 
 
 
 
Permanent mortgage
 
41,870

 
34,279

 
33,869

 
410

 
248

 
37,071

 
1,582

Permanent mortgage guaranteed by U.S. government agencies1
 
188,436

 
181,598

 
181,598

 
—

 
—

 
165,509

 
6,961

Home equity
 
7,537

 
7,264

 
7,264

 
—

 
—

 
6,760

 
—

Total residential mortgage
 
237,843

 
223,141

 
222,731

 
410

 
248

 
209,340

 
8,543

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer
 
1,228

 
1,219

 
1,219

 
—

 
—

 
1,965

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
319,534

 
$
281,970

 
$
279,827

 
$
2,143

 
$
954

 
$
282,658

 
$
8,543

1 
All permanent mortgage loans guaranteed by U.S. government agencies are considered impaired as we do not expect full collection of contractual principal and interest. At December 31, 2013, $777 thousand of these loans are nonaccruing and $181 million are accruing based on the guarantee by U.S. government agencies.

Troubled Debt Restructurings

A summary of troubled debt restructurings ("TDRs") by accruing status as of December 31, 2014 is as follows (in thousands):
 
 
As of December 31, 2014
 
 
 
 
Recorded
Investment
 
Performing in Accordance With Modified Terms
 
Not
Performing in Accordance With Modified Terms
 
Specific
Allowance
 
Amounts Charged-Off During the Year Ended December 31, 2014
Nonaccruing TDRs:
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
Energy
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Services
 
1,666

 
706

 
960

 
148

 
—

Wholesale/retail
 
3,381

 
3,284

 
97

 
9

 
—

Manufacturing
 
340

 
340

 
—

 
—

 
3,000

Healthcare
 
—

 
—

 
—

 
—

 
—

Other commercial and industrial
 
674

 
93

 
581

 
—

 
—

Total commercial
 
6,061

 
4,423

 
1,638

 
157

 
3,000

 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 

 
 

 
 

Residential construction and land development
 
3,140

 
641

 
2,499

 
23

 
1,597

Retail
 
3,600

 
2,432

 
1,168

 
—

 
—

Office
 
2,324

 
—

 
2,324

 
—

 
—

Multifamily
 
—

 
—

 
—

 
—

 
—

Industrial
 
—

 
—

 
—

 
—

 
—

Other commercial real estate
 
1,647

 
1,647

 
—

 
—

 
—

Total commercial real estate
 
10,711

 
4,720

 
5,991

 
23

 
1,597

 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 

 
 

 
 

Permanent mortgage
 
16,393

 
11,134

 
5,259

 
105

 
262

Permanent mortgage guaranteed by U.S. government agencies
 
1,597

 
179

 
1,418

 
—

 
—

Home equity
 
5,184

 
3,736

 
1,448

 
—

 
247

Total residential mortgage
 
23,174

 
15,049

 
8,125

 
105

 
509

 
 
 
 
 
 
 
 
 
 
 
Consumer
 
419

 
253

 
166

 
—

 
1

 
 
 
 
 
 
 
 
 
 
 
Total nonaccruing TDRs
 
40,365

 
24,445

 
15,920

 
285

 
5,107

 
 
 
 
 
 
 
 
 
 
 
Accruing TDRs:
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 
 
 
 
 
 
 
 
 
Permanent mortgages guaranteed by U.S. government agencies
 
73,985

 
17,274

 
56,711

 
—

 
—

Total residential mortgage
 
73,985

 
17,274

 
56,711

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Total accruing TDRs
 
73,985

 
17,274

 
56,711

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Total TDRs
 
$
114,350

 
$
41,719

 
$
72,631

 
$
285

 
$
5,107


A summary of troubled debt restructurings by accruing status as of December 31, 2013 is as follows (in thousands):
 
 
As of December 31, 2013
 
 
 
 
Recorded
Investment
 
Performing in Accordance With Modified Terms
 
Not
Performing in Accordance With Modified Terms
 
Specific
Allowance
 
Amounts Charged-off During the Year Ended December 31, 2013
Nonaccruing TDRs:
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
Energy
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Services
 
2,235

 
852

 
1,383

 
237

 
—

Wholesale/retail
 
235

 
89

 
146

 
9

 
—

Manufacturing
 
391

 
—

 
391

 
—

 
154

Healthcare
 
—

 
—

 
—

 
—

 
—

Other commercial and industrial
 
771

 
173

 
598

 
—

 
—

Total commercial
 
3,632

 
1,114

 
2,518

 
246

 
154

 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 

 
 

 
 
Residential construction and land development
 
10,148

 
1,444

 
8,704

 
107

 
46

Retail
 
4,359

 
3,141

 
1,218

 
—

 
582

Office
 
5,059

 
3,872

 
1,187

 
—

 
117

Multifamily
 
—

 
—

 
—

 
—

 
—

Industrial
 
—

 
—

 
—

 
—

 
—

Other commercial real estate
 
5,011

 
2,885

 
2,126

 
—

 
—

Total commercial real estate
 
24,577

 
11,342

 
13,235

 
107

 
745

 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 

 
 

 
 
Permanent mortgage
 
18,697

 
12,214

 
6,483

 
88

 
469

Home equity
 
4,045

 
3,531

 
514

 
—

 
112

Total residential mortgage
 
22,742

 
15,745

 
6,997

 
88

 
581

 
 
 
 
 
 
 
 
 
 
 
Consumer
 
1,008

 
758

 
250

 
—

 
1

 
 
 
 
 
 
 
 
 
 
 
Total nonaccuring TDRs
 
51,959

 
28,959

 
23,000

 
441

 
1,481

 
 
 
 
 
 
 
 
 
 
 
Accruing TDRs:
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 
 
 
 
 
 
 
 
 
Permanent mortgages guaranteed by U.S. government agencies
 
54,322

 
13,384

 
40,938

 
—

 
—

Total residential mortgage
 
54,322

 
13,384

 
40,938

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Total accruing TDRs
 
54,322

 
13,384

 
40,938

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Total TDRs
 
$
106,281

 
$
42,343

 
$
63,938

 
$
441

 
$
1,481


Troubled debt restructurings generally consist of interest rate concessions, payment stream concessions or a combination of concessions to distressed borrowers. The following table details the recorded balance of loans at December 31, 2014 by class that were restructured during the year ended December 31, 2014 by primary type of concession (in thousands):

 
Year Ended December 31, 2014
 
Accruing
 
Nonaccrual
 
Total
 
Payment Stream
 
Combination & Other
 
Total
 
Interest Rate
 
Payment Stream
 
Combination & Other
 
Total
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Services
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Wholesale/retail
—

 
—

 
—

 
—

 
3,261

 
—

 
3,261

 
3,261

Manufacturing
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Healthcare
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other commercial and industrial
—

 
—

 
—

 
—

 
396

 
81

 
477

 
477

Total commercial
—

 
—

 
—

 
—

 
3,657

 
81

 
3,738

 
3,738

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 

 

Residential construction and land development
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Retail
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Office
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Multifamily
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Industrial
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other commercial real estate
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total commercial real estate
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Permanent mortgage
—

 
—

 
—

 
—

 
586

 
3,538

 
4,124

 
4,124

Permanent mortgage guaranteed by U.S. government agencies
15,386

 
17,293

 
32,679

 
—

 
—

 
1,059

 
1,059

 
33,738

Home equity
—

 
—

 
—

 
—

 
—

 
2,534

 
2,534

 
2,534

Total residential mortgage
15,386

 
17,293

 
32,679

 
—

 
586

 
7,131

 
7,717

 
40,396

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer
—

 
—

 
—

 
—

 
—

 
76

 
76

 
76

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
$
15,386

 
$
17,293

 
$
32,679

 
$
—

 
$
4,243

 
$
7,288

 
$
11,531

 
$
44,210


The following table details the recorded balance of loans by class that were restructured during the year ended December 31, 2013 by primary type of concession (in thousands):

 
Year Ended December 31, 2013
 
Accruing
 
Nonaccrual
 
Total
 
Payment Stream
 
Combination & Other
 
Total
 
Interest Rate
 
Payment Stream
 
Combination & Other
 
Total
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Services
—

 
—

 
—

 
—

 
1,080

 
—

 
1,080

 
1,080

Wholesale/retail
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Manufacturing
—

 
—

 
—

 
—

 
391

 
—

 
391

 
391

Healthcare
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other commercial and industrial
—

 
—

 
—

 
139

 
—

 
57

 
196

 
196

Total commercial
—

 
—

 
—

 
139

 
1,471

 
57

 
1,667

 
1,667

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential construction and land development
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Retail
—

 
—

 
—

 
—

 
486

 
—

 
486

 
486

Office
—

 
—

 
—

 
—

 
2,819

 
—

 
2,819

 
2,819

Multifamily
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Industrial
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other commercial real estate
—

 
—

 
—

 
—

 
517

 
—

 
517

 
517

Total commercial real estate
—

 
—

 
—

 
—

 
3,822

 
—

 
3,822

 
3,822

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Permanent mortgage
—

 
—

 
—

 
—

 
1,062

 
1,894

 
2,956

 
2,956

Permanent mortgage guaranteed by U.S. government agencies
11,545

 
12,518

 
24,063

 
—

 
—

 
—

 
—

 
24,063

Home equity
—

 
—

 
—

 
—

 
—

 
2,800

 
2,800

 
2,800

Total residential mortgage
11,545

 
12,518

 
24,063

 
—

 
1,062

 
4,694

 
5,756

 
29,819

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer
—

 
—

 
—

 
75

 
—

 
638

 
713

 
713

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
$
11,545

 
$
12,518

 
$
24,063

 
$
214

 
$
6,355

 
$
5,389

 
$
11,958

 
$
36,021


The following table summarizes, by loan class, the recorded investment at December 31, 2014 and 2013, respectively of loans modified as TDRs within the previous 12 months and for which there was a payment default during the years ended December 31, 2014 and 2013, respectively (in thousands):

 
Year Ended
 
December 31, 2014
 
December 31, 2013
 
Accruing
 
Nonaccrual
 
Total
 
Accruing
 
Nonaccrual
 
Total
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Energy
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Services
—

 
—

 
—

 
—

 
1,080

 
1,080

Wholesale/retail
—

 
—

 
—

 
—

 
—

 
—

Manufacturing
—

 
—

 
—

 
—

 
391

 
391

Healthcare
—

 
—

 
—

 
—

 
—

 
—

Other commercial and industrial
—

 
13

 
13

 
—

 
164

 
164

Total commercial
—

 
13

 
13

 
—

 
1,635

 
1,635

 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
Residential construction and land development
—

 
—

 
—

 
—

 
—

 
—

Retail
—

 
—

 
—

 
—

 
486

 
486

Office
—

 
—

 
—

 
—

 
2,819

 
2,819

Multifamily
—

 
—

 
—

 
—

 
—

 
—

Industrial
—

 
—

 
—

 
—

 
—

 
—

Other commercial real estate
—

 
—

 
—

 
—

 
517

 
517

Total commercial real estate
—

 
—

 
—

 
—

 
3,822

 
3,822

 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 
 
 
 
 
 
 
 
 
 
Permanent mortgage
—

 
2,836

 
2,836

 
—

 
586

 
586

Permanent mortgage guaranteed by U.S. government agencies
29,585

 
1,047

 
30,632

 
23,918

 
—

 
23,918

Home equity
—

 
1,101

 
1,101

 
—

 
590

 
590

Total residential mortgage
29,585

 
4,984

 
34,569

 
23,918

 
1,176

 
25,094

 
 
 
 
 
 
 
 
 
 
 
 
Consumer
—

 
25

 
25

 
—

 
155

 
155

 
 
 
 
 
 
 
 
 
 
 
 
Total
$
29,585

 
$
5,022

 
$
34,607

 
$
23,918

 
$
6,788

 
$
30,706


A payment default is defined as being 30 days or more past due. The table above includes loans that experienced a payment default during the period, but may be performing in accordance with the modified terms as of the balance sheet date.


Nonaccrual & Past Due Loans

Past due status for all loan classes is based on the actual number of days since the last payment was due according to the contractual terms of the loans.

A summary of loans currently performing, loans past due and accruing and nonaccrual loans as of December 31, 2014 is as follows (in thousands):
 
 
 
 
Past Due
 
 
 
 
 
 
Current
 
30 to 89
Days
 
90 Days
or More
 
Nonaccrual
 
Total
Commercial:
 
 
 
 
 
 
 
 
 
 
Energy
 
$
2,857,082

 
$
1,930

 
$
—

 
$
1,416

 
$
2,860,428

Services
 
2,511,892

 
1,136

 
—

 
5,201

 
2,518,229

Wholesale/retail
 
1,309,167

 
—

 
—

 
4,149

 
1,313,316

Manufacturing
 
532,144

 
—

 
—

 
450

 
532,594

Healthcare
 
1,453,409

 
180

 
—

 
1,380

 
1,454,969

Other commercial and industrial
 
415,030

 
173

 
—

 
931

 
416,134

Total commercial
 
9,078,724

 
3,419

 
—

 
13,527

 
9,095,670

 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 

 
 

 
 

Residential construction and land development
 
133,642

 
4,650

 
—

 
5,299

 
143,591

Retail
 
662,963

 
—

 
—

 
3,926

 
666,889

Office
 
412,124

 
—

 
—

 
3,420

 
415,544

Multifamily
 
704,298

 
—

 
—

 
—

 
704,298

Industrial
 
428,817

 
—

 
—

 
—

 
428,817

Other commercial real estate
 
362,529

 
570

 
—

 
5,912

 
369,011

Total commercial real estate
 
2,704,373

 
5,220

 
—

 
18,557

 
2,728,150

 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 

 
 

 
 

Permanent mortgage
 
929,090

 
5,970

 
46

 
34,845

 
969,951

Permanent mortgages guaranteed by U.S. government agencies
 
26,691

 
23,558

 
151,989

 
3,712

 
205,950

Home equity
 
761,247

 
2,723

 
77

 
9,564

 
773,611

Total residential mortgage
 
1,717,028

 
32,251

 
152,112

 
48,121

 
1,949,512

 
 
 
 
 
 
 
 
 
 
 
Consumer
 
433,590

 
547

 
2

 
566

 
434,705

 
 
 
 
 
 
 
 
 
 
 
Total
 
$
13,933,715

 
$
41,437

 
$
152,114

 
$
80,771

 
$
14,208,037


A summary of loans currently performing, loans past due and accruing and nonaccrual loans as of December 31, 2013 is as follows (in thousands):

 
 
 
 
Past Due
 
 
 
 
 
 
Current
 
30 to 89
Days
 
90 Days
or More
 
Nonaccrual
 
Total
Commercial:
 
 
 
 
 
 
 
 
 
 
Energy
 
$
2,347,267

 
$
2,483

 
$
150

 
$
1,860

 
$
2,351,760

Services
 
2,276,036

 
1,210

 
42

 
4,922

 
2,282,210

Wholesale/retail
 
1,193,905

 
338

 
152

 
6,969

 
1,201,364

Manufacturing
 
391,159

 
—

 
—

 
592

 
391,751

Healthcare
 
1,272,660

 
—

 
—

 
1,586

 
1,274,246

Other commercial and industrial
 
440,973

 
81

 
5

 
831

 
441,890

Total commercial
 
7,922,000

 
4,112

 
349

 
16,760

 
7,943,221

 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 

 
 

 
 

Residential construction and land development
 
188,434

 
428

 
19

 
17,377

 
206,258

Retail
 
580,926

 
264

 
—

 
4,857

 
586,047

Office
 
404,505

 
603

 
—

 
6,391

 
411,499

Multifamily
 
576,495

 
—

 
—

 
7

 
576,502

Industrial
 
243,625

 
—

 
—

 
252

 
243,877

Other commercial real estate
 
376,699

 
1,493

 
1,012

 
11,966

 
391,170

Total commercial real estate
 
2,370,684

 
2,788

 
1,031

 
40,850

 
2,415,353

 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 

 
 

 
 

Permanent mortgage
 
1,018,670

 
9,795

 
—

 
34,279

 
1,062,744

Permanent mortgages guaranteed by U.S. government agencies
 
21,916

 
17,290

 
141,615

 
777

 
181,598

Home equity
 
797,299

 
3,087

 
34

 
7,264

 
807,684

Total residential mortgage
 
1,837,885

 
30,172

 
141,649

 
42,320

 
2,052,026

 
 
 
 
 
 
 
 
 
 
 
Consumer
 
379,417

 
1,027

 
1

 
1,219

 
381,664

 
 
 
 
 
 
 
 
 
 
 
Total
 
$
12,509,986

 
$
38,099

 
$
143,030

 
$
101,149

 
$
12,792,264