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Allowance for Loan Losses, Allowance for Losses on Lending-Related Commitments and Impaired Loans (Tables)
 9 Months Ended
Sep. 30, 2019
Receivables [Abstract]  
Schedule of Aging of the Company's Loan Portfolio
The tables below show the aging of the Company’s loan portfolio at September 30, 2019, December 31, 2018 and September 30, 2018:
As of September 30, 2019
 
 
90+ days and still accruing
 
60-89 days past due
 
30-59 days past due
 
 
 
 
(In thousands)
Nonaccrual
 
 
 
 
Current
 
Total Loans
Loan Balances:
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
$
34,397

 
$
—

 
$
2,296

 
$
16,995

 
$
5,096,879

 
$
5,150,567

Franchise
3,752

 
—

 
—

 
7,327

 
903,695

 
914,774

Mortgage warehouse lines of credit
—

 
—

 
—

 
3,196

 
311,501

 
314,697

Asset-based lending
5,782

 
—

 
9,521

 
23,369

 
1,007,197

 
1,045,869

Leases
—

 
—

 
—

 
393

 
753,770

 
754,163

PCI - commercial (1)
—

 
382

 
1,043

 
207

 
13,900

 
15,532

Total commercial
43,931

 
382

 
12,860

 
51,487

 
8,086,942

 
8,195,602

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
Construction
1,030

 
—

 
—

 
2,103

 
847,442

 
850,575

Land
994

 
—

 
88

 
4,947

 
169,357

 
175,386

Office
8,158

 
—

 
158

 
2,145

 
986,470

 
996,931

Industrial
100

 
—

 
950

 
961

 
1,007,669

 
1,009,680

Retail
7,174

 
—

 
2,235

 
3,684

 
991,627

 
1,004,720

Multi-family
690

 
—

 
1,073

 
2,265

 
1,287,797

 
1,291,825

Mixed use and other
3,411

 
—

 
928

 
10,084

 
1,987,844

 
2,002,267

PCI - commercial real estate (1)
—

 
4,992

 
4,197

 
6,909

 
101,185

 
117,283

Total commercial real estate
21,557

 
4,992

 
9,629

 
33,098

 
7,379,391

 
7,448,667

Home equity
7,920

 
—

 
95

 
3,100

 
501,188

 
512,303

Residential real estate, including PCI
13,447

 
3,244

 
1,868

 
1,433

 
1,198,674

 
1,218,666

Premium finance receivables
 
 
 
 
 
 
 
 
 
 
 
Commercial insurance loans
15,950

 
10,612

 
8,853

 
16,972

 
3,397,563

 
3,449,950

Life insurance loans
590

 
—

 
17,753

 
27,795

 
4,608,450

 
4,654,588

PCI - life insurance loans (1)
—

 
—

 
—

 
—

 
140,908

 
140,908

Consumer and other, including PCI
224

 
117

 
55

 
272

 
88,819

 
89,487

Total loans, net of unearned income
$
103,619

 
$
19,347

 
$
51,113

 
$
134,157

 
$
25,401,935

 
$
25,710,171

(1)
PCI loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments.

As of December 31, 2018
 
 
90+ days and still accruing
 
60-89 days past due
 
30-59 days past due
 
 
 
 
(In thousands)
Nonaccrual
 
 
 
 
Current
 
Total Loans
Loan Balances:
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
$
34,298

 
$
—

 
$
1,451

 
$
21,618

 
$
5,062,729

 
$
5,120,096

Franchise
16,051

 
—

 
—

 
8,738

 
924,190

 
948,979

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
144,199

 
144,199

Asset-based lending
635

 
—

 
200

 
3,156

 
1,022,065

 
1,026,056

Leases
—

 
—

 
—

 
1,250

 
564,430

 
565,680

PCI - commercial (1)
—

 
3,313

 
—

 
99

 
20,116

 
23,528

Total commercial
50,984

 
3,313

 
1,651

 
34,861

 
7,737,729

 
7,828,538

Commercial real estate
 
 
 
 
 
 
 
 
 
 
 
Construction
1,554

 
—

 
—

 
9,424

 
749,846

 
760,824

Land
107

 
—

 
170

 
107

 
141,097

 
141,481

Office
3,629

 
—

 
877

 
5,077

 
929,739

 
939,322

Industrial
285

 
—

 
—

 
16,596

 
885,367

 
902,248

Retail
10,753

 
—

 
1,890

 
1,729

 
878,106

 
892,478

Multi-family
311

 
—

 
77

 
5,575

 
970,597

 
976,560

Mixed use and other
2,490

 
—

 
1,617

 
8,983

 
2,192,105

 
2,205,195

PCI - commercial real estate (1)
—

 
6,241

 
6,195

 
4,075

 
98,633

 
115,144

Total commercial real estate
19,129

 
6,241

 
10,826

 
51,566

 
6,845,490

 
6,933,252

Home equity
7,147

 
—

 
131

 
3,105

 
541,960

 
552,343

Residential real estate, including PCI
16,383

 
1,292

 
1,692

 
6,171

 
976,926

 
1,002,464

Premium finance receivables
 
 
 
 
 
 
 
 
 
 
 
Commercial insurance loans
11,335

 
7,799

 
11,382

 
15,085

 
2,796,058

 
2,841,659

Life insurance loans
—

 
—

 
8,407

 
24,628

 
4,340,856

 
4,373,891

PCI - life insurance loans (1)
—

 
—

 
—

 
—

 
167,903

 
167,903

Consumer and other, including PCI
348

 
227

 
87

 
733

 
119,246

 
120,641

Total loans, net of unearned income
$
105,326

 
$
18,872

 
$
34,176

 
$
136,149

 
$
23,526,168

 
$
23,820,691

(1)
PCI loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments.

As of September 30, 2018
 
 
90+ days and still accruing
 
60-89 days past due
 
30-59 days past due
 
 
 
 
(In thousands)
Nonaccrual
 
 
 
 
Current
 
Total Loans
Loan Balances:
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
$
41,322

 
$
—

 
$
2,535

 
$
16,451

 
$
4,745,178

 
$
4,805,486

Franchise
16,351

 
5,122

 
—

 
—

 
915,817

 
937,290

Mortgage warehouse lines of credit
—

 
—

 
3,000

 
—

 
168,860

 
171,860

Asset-based lending
910

 
—

 
590

 
9,083

 
1,023,268

 
1,033,851

Leases
4

 
—

 
—

 
80

 
509,591

 
509,675

PCI - commercial (1)
—

 
3,372

 
15

 
—

 
12,409

 
15,796

Total commercial
58,587

 
8,494

 
6,140

 
25,614

 
7,375,123

 
7,473,958

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
Construction
1,554

 
—

 
1,823

 
16,228

 
778,725

 
798,330

Land
228

 
—

 
365

 
—

 
118,411

 
119,004

Office
1,532

 
—

 
4,058

 
3,021

 
932,166

 
940,777

Industrial
178

 
—

 
122

 
145

 
885,486

 
885,931

Retail
10,586

 
—

 
4,570

 
10,645

 
861,901

 
887,702

Multi-family
318

 
—

 
—

 
1,162

 
922,413

 
923,893

Mixed use and other
3,119

 
—

 
9,654

 
11,503

 
2,062,179

 
2,086,455

PCI - commercial real estate (1)
—

 
5,578

 
6,448

 
1,380

 
91,276

 
104,682

Total commercial real estate
17,515

 
5,578

 
27,040

 
44,084

 
6,652,557

 
6,746,774

Home equity
8,523

 
—

 
1,075

 
3,478

 
565,768

 
578,844

Residential real estate, including PCI
16,062

 
1,865

 
1,714

 
603

 
904,006

 
924,250

Premium finance receivables
 
 
 
 
 
 
 
 
 
 
 
Commercial insurance loans
13,802

 
7,028

 
5,945

 
13,239

 
2,845,313

 
2,885,327

Life insurance loans
—

 
—

 
—

 
22,016

 
4,203,465

 
4,225,481

PCI - life insurance loans (1)
—

 
—

 
—

 
—

 
173,490

 
173,490

Consumer and other, including PCI
355

 
295

 
430

 
329

 
114,418

 
115,827

Total loans, net of unearned income
$
114,844

 
$
23,260

 
$
42,344

 
$
109,363

 
$
22,834,140

 
$
23,123,951

(1)
PCI loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. Loan agings are based upon contractually required payments.
Summary of Performance by Loan Class The following table presents the recorded investment based on performance of loans by class, per the most recent analysis at September 30, 2019, December 31, 2018 and September 30, 2018:

 
Performing
 
Non-performing
 
Total
(In thousands)
September 30,
2019
 
December 31,
2018
 
September 30,
2018
 
September 30,
2019
 
December 31,
2018
 
September 30,
2018
 
September 30,
2019
 
December 31,
2018
 
September 30,
2018
Loan Balances:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
$
5,116,170

 
$
5,085,798

 
$
4,764,164

 
$
34,397

 
$
34,298

 
$
41,322

 
$
5,150,567

 
$
5,120,096

 
$
4,805,486

Franchise
911,022

 
932,928

 
915,817

 
3,752

 
16,051

 
21,473

 
914,774

 
948,979

 
937,290

Mortgage warehouse lines of credit
314,697

 
144,199

 
171,860

 
—

 
—

 
—

 
314,697

 
144,199

 
171,860

Asset-based lending
1,040,087

 
1,025,421

 
1,032,941

 
5,782

 
635

 
910

 
1,045,869

 
1,026,056

 
1,033,851

Leases
754,163

 
565,680

 
509,671

 
—

 
—

 
4

 
754,163

 
565,680

 
509,675

PCI - commercial (1)
15,532

 
23,528

 
15,796

 
—

 
—

 
—

 
15,532

 
23,528

 
15,796

Total commercial
8,151,671

 
7,777,554

 
7,410,249

 
43,931

 
50,984

 
63,709

 
8,195,602

 
7,828,538

 
7,473,958

Commercial real estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Construction
849,545

 
759,270

 
796,776

 
1,030

 
1,554

 
1,554

 
850,575

 
760,824

 
798,330

Land
174,392

 
141,374

 
118,776

 
994

 
107

 
228

 
175,386

 
141,481

 
119,004

Office
988,773

 
935,693

 
939,245

 
8,158

 
3,629

 
1,532

 
996,931

 
939,322

 
940,777

Industrial
1,009,580

 
901,963

 
885,753

 
100

 
285

 
178

 
1,009,680

 
902,248

 
885,931

Retail
997,546

 
881,725

 
877,116

 
7,174

 
10,753

 
10,586

 
1,004,720

 
892,478

 
887,702

Multi-family
1,291,135

 
976,249

 
923,575

 
690

 
311

 
318

 
1,291,825

 
976,560

 
923,893

Mixed use and other
1,998,856

 
2,202,705

 
2,083,336

 
3,411

 
2,490

 
3,119

 
2,002,267

 
2,205,195

 
2,086,455

PCI - commercial real estate(1)
117,283

 
115,144

 
104,682

 
—

 
—

 
—

 
117,283

 
115,144

 
104,682

Total commercial real estate
7,427,110

 
6,914,123

 
6,729,259

 
21,557

 
19,129

 
17,515

 
7,448,667

 
6,933,252

 
6,746,774

Home equity
504,383

 
545,196

 
570,321

 
7,920

 
7,147

 
8,523

 
512,303

 
552,343

 
578,844

Residential real estate, including PCI
1,205,219

 
986,081

 
908,188

 
13,447

 
16,383

 
16,062

 
1,218,666

 
1,002,464

 
924,250

Premium finance receivables
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial insurance loans
3,423,388

 
2,822,525

 
2,864,497

 
26,562

 
19,134

 
20,830

 
3,449,950

 
2,841,659

 
2,885,327

Life insurance loans
4,653,998

 
4,373,891

 
4,225,481

 
590

 
—

 
—

 
4,654,588

 
4,373,891

 
4,225,481

PCI - life insurance loans (1)
140,908

 
167,903

 
173,490

 
—

 
—

 
—

 
140,908

 
167,903

 
173,490

Consumer and other, including PCI
89,210

 
120,184

 
115,239

 
277

 
457

 
588

 
89,487

 
120,641

 
115,827

Total loans, net of unearned income
$
25,595,887

 
$
23,707,457

 
$
22,996,724

 
$
114,284

 
$
113,234

 
$
127,227

 
$
25,710,171

 
$
23,820,691

 
$
23,123,951

(1)
PCI loans represent loans acquired with evidence of credit quality deterioration since origination, in accordance with ASC 310-30. See Note 6 - Loans for further discussion of these purchased loans.
Summary of Activity in the Allowance for Credit Losses
A summary of activity in the allowance for credit losses by loan portfolio for the three and nine months ended September 30, 2019 and 2018 is as follows:
Three months ended September 30, 2019
 
 
Commercial Real Estate
 
Home  Equity
 
Residential Real Estate
 
Premium Finance Receivables
 
Consumer and Other
 
Total Loans
(In thousands)
Commercial
 
 
 
 
 
 
Allowance for credit losses
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at beginning of period
$
74,893

 
$
63,270

 
$
3,631

 
$
8,146

 
$
8,940

 
$
1,541

 
$
160,421

Other adjustments
—

 
—

 
—

 
—

 
(13
)
 
—

 
(13
)
Reclassification from allowance for unfunded lending-related commitments
—

 
(30
)
 
—

 
—

 
—

 
—

 
(30
)
Charge-offs
(6,775
)
 
(809
)
 
(1,594
)
 
(25
)
 
(1,866
)
 
(117
)
 
(11,186
)
Recoveries
367

 
385

 
183

 
203

 
563

 
36

 
1,737

Provision for credit losses
4,642

 
2,122

 
1,500

 
1,087

 
1,742

 
(259
)
 
10,834

Allowance for loan losses at period end
$
73,127

 
$
64,938

 
$
3,720

 
$
9,411

 
$
9,366

 
$
1,201

 
$
161,763

Allowance for unfunded lending-related commitments at period end
$
—

 
$
1,510

 
$
—

 
$
—

 
$
—

 
$
—

 
$
1,510

Allowance for credit losses at period end
$
73,127

 
$
66,448

 
$
3,720

 
$
9,411

 
$
9,366

 
$
1,201

 
$
163,273

Individually evaluated for impairment
$
10,606

 
$
3,600

 
$
313

 
$
315

 
$
—

 
$
106

 
$
14,940

Collectively evaluated for impairment
62,160

 
62,795

 
3,407

 
9,037

 
9,366

 
1,095

 
147,860

Loans acquired with deteriorated credit quality
361

 
53

 
—

 
59

 
—

 
—

 
473

Loans at period end
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
58,030

 
$
32,155

 
$
18,702

 
$
21,889

 
$
—

 
$
274

 
$
131,050

Collectively evaluated for impairment
8,122,040

 
7,299,229

 
493,601

 
1,070,795

 
8,104,538

 
86,887

 
25,177,090

Loans acquired with deteriorated credit quality
15,532

 
117,283

 
—

 
9,960

 
140,908

 
2,326

 
286,009

Loans held at fair value
—

 
—

 
—

 
116,022

 
—

 
—

 
116,022


Three months ended September 30, 2018
Commercial
 
Commercial Real Estate
 
Home  Equity
 
Residential Real Estate
 
Premium Finance Receivables
 
Consumer and Other
 
Total Loans
(In thousands)
 
 
 
 
 
 
Allowance for credit losses
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at beginning of period
$
60,727

 
$
57,660

 
$
9,551

 
$
6,336

 
$
7,734

 
$
1,394

 
$
143,402

Other adjustments
(1
)
 
(15
)
 
(2
)
 
(14
)
 
14

 
—

 
(18
)
Reclassification from allowance for unfunded lending-related commitments
—

 
(2
)
 
—

 
—

 
—

 
—

 
(2
)
Charge-offs
(3,219
)
 
(208
)
 
(561
)
 
(337
)
 
(2,512
)
 
(144
)
 
(6,981
)
Recoveries
304

 
193

 
142

 
466

 
1,142

 
66

 
2,313

Provision for credit losses
8,934

 
619

 
13

 
(160
)
 
1,796

 
(160
)
 
11,042

Allowance for loan losses at period end
$
66,745

 
$
58,247

 
$
9,143

 
$
6,291

 
$
8,174

 
$
1,156

 
$
149,756

Allowance for unfunded lending-related commitments at period end
$
—

 
$
1,245

 
$
—

 
$
—

 
$
—

 
$
—

 
$
1,245

Allowance for credit losses at period end
$
66,745

 
$
59,492

 
$
9,143

 
$
6,291

 
$
8,174

 
$
1,156

 
$
151,001

Individually evaluated for impairment
$
10,164

 
$
3,158

 
$
611

 
$
325

 
$
—

 
$
117

 
$
14,375

Collectively evaluated for impairment
55,987

 
56,316

 
8,532

 
5,894

 
8,174

 
1,039

 
135,942

Loans acquired with deteriorated credit quality
594

 
18

 
—

 
72

 
—

 
—

 
684

Loans at period end
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
67,381

 
$
31,952

 
$
11,284

 
$
21,781

 
$
—

 
$
401

 
$
132,799

Collectively evaluated for impairment
7,390,781

 
6,610,140

 
567,560

 
815,442

 
7,110,808

 
113,812

 
22,608,543

Loans acquired with deteriorated credit quality
15,796

 
104,682

 
—

 
9,144

 
173,490

 
1,614

 
304,726

Loans held at fair value
—

 
—

 
—

 
77,883

 
—

 
—

 
77,883


Nine months ended September 30, 2019
 
 
Commercial Real Estate
 
Home  Equity
 
Residential Real Estate
 
Premium Finance Receivable
 
Consumer and Other
 
Total Loans
(In thousands)
Commercial
 
 
 
 
 
 
Allowance for credit losses
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at beginning of period
$
67,826

 
$
60,267

 
$
8,507

 
$
7,194

 
$
7,715

 
$
1,261

 
$
152,770

Other adjustments
—

 
(35
)
 
(20
)
 
(15
)
 
19

 
—

 
(51
)
Reclassification from allowance for unfunded lending-related commitments
—

 
(116
)
 
—

 
—

 
—

 
—

 
(116
)
Charge-offs
(24,658
)
 
(4,869
)
 
(2,372
)
 
(315
)
 
(9,085
)
 
(355
)
 
(41,654
)
Recoveries
974

 
1,112

 
313

 
372

 
1,853

 
152

 
4,776

Provision for credit losses
28,985

 
8,579

 
(2,708
)
 
2,175

 
8,864

 
143

 
46,038

Allowance for loan losses at period end
$
73,127

 
$
64,938

 
$
3,720

 
$
9,411

 
$
9,366

 
$
1,201

 
$
161,763

Allowance for unfunded lending-related commitments at period end
$
—

 
$
1,510

 
$
—

 
$
—

 
$
—

 
$
—

 
$
1,510

Allowance for credit losses at period end
$
73,127

 
$
66,448

 
$
3,720

 
$
9,411

 
$
9,366

 
$
1,201

 
$
163,273


Nine months ended September 30, 2018
 
 
Commercial Real Estate
 
Home  Equity
 
Residential Real Estate
 
Premium Finance Receivable
 
Consumer and Other
 
Total Loans
(In thousands)
Commercial
 
 
 
 
 
 
Allowance for credit losses
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at beginning of period
$
57,811

 
$
55,227

 
$
10,493

 
$
6,688

 
$
6,846

 
$
840

 
$
137,905

Other adjustments
(3
)
 
(66
)
 
(2
)
 
(19
)
 
(12
)
 
—

 
(102
)
Reclassification from allowance for unfunded lending-related commitments
—

 
24

 
—

 
—

 
—

 
—

 
24

Charge-offs
(8,116
)
 
(1,176
)
 
(1,530
)
 
(1,088
)
 
(10,487
)
 
(732
)
 
(23,129
)
Recoveries
1,232

 
4,267

 
436

 
2,028

 
2,502

 
162

 
10,627

Provision for credit losses
15,821

 
(29
)
 
(254
)
 
(1,318
)
 
9,325

 
886

 
24,431

Allowance for loan losses at period end
$
66,745

 
$
58,247

 
$
9,143

 
$
6,291

 
$
8,174

 
$
1,156

 
$
149,756

Allowance for unfunded lending-related commitments at period end
$
—

 
$
1,245

 
$
—

 
$
—

 
$
—

 
$
—

 
$
1,245

Allowance for credit losses at period end
$
66,745

 
$
59,492

 
$
9,143

 
$
6,291

 
$
8,174

 
$
1,156

 
$
151,001
Summary of Impaired Loans, Including Restructured Loans
A summary of impaired loans, including troubled debt restructurings ("TDRs"), is as follows:
 
September 30,
 
December 31,
 
September 30,
(In thousands)
2019
 
2018
 
2018
Impaired loans (included in non-performing and TDRs):
 
 
 
 
 
Impaired loans with an allowance for loan loss required (1)
$
52,485

 
$
60,219

 
$
83,349

Impaired loans with no allowance for loan loss required
78,338

 
67,050

 
49,173

Total impaired loans (2)
$
130,823

 
$
127,269

 
$
132,522

Allowance for loan losses related to impaired loans
$
14,934

 
$
11,437

 
$
14,365

TDRs
$
66,308

 
$
66,102

 
$
66,219

(1)
These impaired loans require an allowance for loan losses because the estimated fair value of the loans or related collateral is less than the recorded investment in the loans.
(2)
Impaired loans are considered by the Company to be non-accrual loans, TDRs or loans with principal and/or interest at risk, even if the loan is current with all payments of principal and interest.
Summary of Impaired Loans by Loan Class
The following tables present impaired loans by loan class for the periods ended as follows:
 
 
 
 
 
 
 
For the Nine Months Ended
 
As of September 30, 2019
 
September 30, 2019
 
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average  Recorded Investment
 
Interest Income Recognized
(In thousands)
 
 
 
 
Impaired loans with a related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
$
20,281

 
$
20,536

 
$
10,606

 
$
20,411

 
$
1,011

Franchise
—

 
—

 
—

 
—

 
—

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Asset-based lending
130

 
130

 
—

 
130

 
6

Leases
1,585

 
1,585

 
—

 
1,651

 
62

Commercial real estate
 
 
 
 
 
 
 
 
 
Construction
—

 
—

 
—

 
—

 
—

Land
—

 
—

 
—

 
—

 
—

Office
8,043

 
8,190

 
3,470

 
8,114

 
283

Industrial
—

 
—

 
—

 
—

 
—

Retail
5,029

 
5,029

 
32

 
5,076

 
171

Multi-family
1,168

 
1,168

 
25

 
1,178

 
39

Mixed use and other
774

 
821

 
67

 
813

 
30

Home equity
8,374

 
8,969

 
313

 
8,534

 
251

Residential real estate
6,995

 
7,261

 
315

 
7,061

 
188

Consumer and other
106

 
124

 
106

 
110

 
5

Impaired loans with no related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
$
25,804

 
$
30,152

 
$
—

 
$
29,361

 
$
1,769

Franchise
3,752

 
10,083

 
—

 
11,857

 
715

Asset-based lending
5,782

 
6,164

 
—

 
5,457

 
215

Leases
696

 
733

 
—

 
761

 
36

Commercial real estate
 
 
 
 
 
 
 
 
 
Construction
1,030

 
1,554

 
—

 
1,146

 
65

Land
994

 
1,303

 
—

 
1,184

 
54

Office
662

 
679

 
—

 
667

 
31

Industrial
105

 
218

 
—

 
122

 
9

Retail
7,507

 
10,993

 
—

 
8,307

 
437

Multi-family
690

 
797

 
—

 
704

 
23

Mixed use and other
5,926

 
6,189

 
—

 
6,091

 
275

Home equity
10,328

 
12,132

 
—

 
10,709

 
465

Residential real estate
14,894

 
17,309

 
—

 
15,259

 
595

Consumer and other
168

 
325

 
—

 
190

 
11

Total impaired loans, net of unearned income
$
130,823

 
$
152,444

 
$
14,934

 
$
144,893

 
$
6,746


 
 
 
 
 
 
 
For the Twelve Months Ended
 
As of December 31, 2018
 
December 31, 2018
 
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average  Recorded Investment
 
Interest Income Recognized
(In thousands)
 
 
 
 
Impaired loans with a related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
$
16,703

 
$
17,029

 
$
4,866

 
$
17,868

 
$
1,181

Franchise
16,021

 
16,256

 
1,375

 
16,221

 
909

Mortgage warehouse lines of credit
—

 
—

 
—

 
—

 
—

Asset-based lending
557

 
557

 
317

 
689

 
50

Leases
1,730

 
1,730

 
—

 
1,812

 
91

Commercial real estate
 
 
 
 
 
 
 
 
 
Construction
1,554

 
1,554

 
550

 
1,554

 
76

Land
—

 
—

 
—

 
—

 
—

Office
573

 
638

 
21

 
587

 
25

Industrial
—

 
—

 
—

 
—

 
—

Retail
14,633

 
14,633

 
3,413

 
14,694

 
676

Multi-family
—

 
—

 
—

 
—

 
—

Mixed use and other
1,188

 
1,221

 
293

 
1,354

 
66

Home equity
3,133

 
3,470

 
282

 
3,165

 
131

Residential real estate
4,011

 
4,263

 
204

 
4,056

 
159

Consumer and other
116

 
129

 
116

 
119

 
7

Impaired loans with no related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
$
18,314

 
$
21,501

 
$
—

 
$
20,547

 
$
1,143

Franchise
5,152

 
5,154

 
—

 
5,320

 
403

Asset-based lending
207

 
601

 
—

 
569

 
51

Leases
845

 
879

 
—

 
936

 
56

Commercial real estate
 
 
 
 
 
 
 
 
 
Construction
1,117

 
1,117

 
—

 
1,218

 
52

Land
3,396

 
3,491

 
—

 
3,751

 
198

Office
3,629

 
3,642

 
—

 
3,651

 
184

Industrial
322

 
450

 
—

 
363

 
30

Retail
1,592

 
1,945

 
—

 
1,699

 
110

Multi-family
1,498

 
1,595

 
—

 
1,529

 
55

Mixed use and other
3,522

 
3,836

 
—

 
3,611

 
227

Home equity
9,122

 
12,383

 
—

 
9,323

 
564

Residential real estate
18,053

 
20,765

 
—

 
18,552

 
883

Consumer and other
281

 
407

 
—

 
293

 
20

Total impaired loans, net of unearned income
$
127,269

 
$
139,246

 
$
11,437

 
$
133,481

 
$
7,347


 
 
 
 
 
 
 
For the Nine Months Ended
 
As of September 30, 2018
 
September 30, 2018
 
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average  Recorded Investment
 
Interest Income Recognized
(In thousands)
 
 
 
 
Impaired loans with a related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
$
36,564

 
$
36,699

 
$
8,242

 
$
30,259

 
$
1,404

Franchise
16,316

 
18,504

 
1,638

 
18,387

 
771

Asset-based lending
646

 
646

 
283

 
724

 
39

Leases
1,777

 
1,777

 
1

 
1,836

 
69

Commercial real estate
 
 
 
 
 
 
 
 
 
Construction
1,554

 
1,554

 
390

 
1,554

 
56

Land
1,375

 
1,375

 
1

 
1,508

 
53

Office
579

 
647

 
26

 
591

 
19

Industrial
45

 
154

 
1

 
56

 
6

Retail
15,325

 
15,567

 
2,413

 
15,376

 
535

Multi-family
1,197

 
1,197

 
8

 
1,209

 
32

Mixed use and other
1,590

 
1,801

 
309

 
1,754

 
76

Home equity
2,287

 
2,651

 
611

 
2,303

 
78

Residential real estate
3,977

 
4,291

 
325

 
3,998

 
128

Consumer and other
117

 
130

 
117

 
119

 
5

Impaired loans with no related ASC 310 allowance recorded
 
 
 
 
 
 
 
 
 
Commercial
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
$
5,758

 
$
7,022

 
$
—

 
$
9,325

 
$
465

Franchise
5,157

 
5,158

 
—

 
5,376

 
302

Asset-based lending
264

 
1,088

 
—

 
1,623

 
89

Leases
899

 
930

 
—

 
974

 
43

Commercial real estate
 
 
 
 
 
 
 
 
 
Construction
1,117

 
1,117

 
—

 
1,252

 
40

Land
2,325

 
2,431

 
—

 
2,366

 
98

Office
1,532

 
2,077

 
—

 
1,541

 
86

Industrial
178

 
195

 
—

 
188

 
9

Retail
777

 
946

 
—

 
874

 
42

Multi-family
318

 
412

 
—

 
329

 
9

Mixed use and other
3,763

 
4,362

 
—

 
3,950

 
194

Home equity
8,997

 
12,131

 
—

 
9,015

 
462

Residential real estate
17,804

 
20,291

 
—

 
18,193

 
643

Consumer and other
284

 
408

 
—

 
295

 
15

Total impaired loans, net of unearned income
$
132,522

 
$
145,561

 
$
14,365

 
$
134,975

 
$
5,768
Summary of the Post-Modification Balance of TDRs and Loans Restructured in TDRs
The tables below present a summary of the post-modification balance of loans restructured during the three and nine months ended September 30, 2019 and 2018, respectively, which represent TDRs:
Three months ended September 30, 2019
(Dollars in thousands)
 
Total (1)(2)
 
Extension at
Below Market
Terms (2)
 
Reduction of Interest
Rate (2)
 
Modification to 
Interest-only
Payments (2)
 
Forgiveness of Debt(2)
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
 
5

 
$
3,526

 
2

 
$
2,721

 
—

 
$
—

 
3

 
$
807

 
—

 
$
—

Commercial real estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Office
 
1

 
5,070

 
1

 
5,070

 
—

 
—

 
1

 
5,070

 
—

 
—

Mixed use and other
 
2

 
122

 
1

 
122

 
—

 
—

 
1

 
121

 
—

 
—

Residential real estate and other
 
60

 
4,879

 
59

 
4,568

 
9

 
1,048

 
1

 
311

 
—

 
—

Total loans
 
68

 
$
13,597

 
63

 
$
12,481

 
9

 
$
1,048

 
6

 
$
6,309

 
—

 
$
—


Three months ended September 30, 2018
(Dollars in thousands)
 
Total (1)(2)
 
Extension at
Below Market
Terms (2)
 
Reduction of Interest
Rate (2)
 
Modification to 
Interest-only
Payments (2)
 
Forgiveness of Debt(2)
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
 
1

 
$
519

 
1

 
$
519

 
—

 
$
—

 
—

 
$
—

 
—

 
$
—

Franchise
 
1

 
35

 
1

 
35

 
—

 
—

 
—

 
—

 
—

 
—

Leases
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Commercial real estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mixed use and other
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Residential real estate and other
 
20

 
3,679

 
20

 
3,679

 
7

 
621

 
—

 
—

 
—

 
—

Total loans
 
22

 
$
4,233

 
22

 
$
4,233

 
7

 
$
621

 
—

 
$
—

 
—

 
$
—

(1)
TDRs may have more than one modification representing a concession. As such, TDRs during the period may be represented in more than one of the categories noted above.
(2)
Balances represent the recorded investment in the loan at the time of the restructuring.
The following table presents a summary of all loans restructured in TDRs during the twelve months ended September 30, 2019 and 2018, and such loans which were in payment default under the restructured terms during the respective periods below:
(Dollars in thousands)
As of September 30, 2019
 
Three Months Ended September 30, 2019
 
Nine Months Ended September 30, 2019
Total (1)(3)
 
Payments in Default  (2)(3)
 
Payments in Default  (2)(3)
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
Commercial
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
18

 
$
24,835

 
3

 
$
1,743

 
6

 
$
13,348

Asset-based lending
2

 
206

 
2

 
206

 
2

 
206

Commercial real estate
 
 
 
 
 
 
 
 
 
 
 
Office
2

 
5,382

 
1

 
312

 
1

 
312

Mixed use and other
5

 
1,755

 
1

 
370

 
2

 
672

Residential real estate and other
130

 
19,041

 
11

 
3,914

 
12

 
4,154

Total loans
157

 
$
51,219

 
18

 
$
6,545

 
23

 
$
18,692

(Dollars in thousands)
As of September 30, 2018
 
Three Months Ended September 30, 2018
 
Nine Months Ended
September 30, 2018
Total (1)(3)
 
Payments in Default  (2)(3)
 
Payments in Default  (2)(3)
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
Commercial
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
5

 
$
15,714

 
3

 
$
2,447

 
3

 
$
2,447

Franchise
6

 
21,413

 
2

 
5,122

 
2

 
5,122

Leases
1

 
239

 
—

 
—

 
—

 
—

Commercial real estate
 
 
 
 
 
 
 
 
 
 
 
Office
1

 
59

 
—

 
—

 
—

 
—

Mixed use and other
1

 
85

 
1

 
85

 
1

 
85

Residential real estate and other
35

 
6,257

 
7

 
1,457

 
7

 
1,457

Total loans
49

 
$
43,767

 
13

 
$
9,111

 
13

 
$
9,111

(1)
Total TDRs represent all loans restructured in TDRs during the previous twelve months from the date indicated.
(2)
TDRs considered to be in payment default are over 30 days past-due subsequent to the restructuring.
(3)
Balances represent the recorded investment in the loan at the time of the restructuring.
Nine months ended September 30, 2019
(Dollars in thousands)
 
Total (1)(2)
 
Extension at
Below Market
Terms (2)
 
Reduction of Interest
Rate (2)
 
Modification to 
Interest-only
Payments (2)
 
Forgiveness of Debt(2)
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
 
18

 
$
24,835

 
8

 
$
5,608

 
1

 
$
550

 
12

 
$
20,723

 
—

 
$
—

Asset based lending
 
1

 
76

 
1

 
76

 
—

 
—

 
—

 
—

 
—

 
—

Commercial real estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Office
 
2

 
5,382

 
2

 
5,382

 
—

 
—

 
1

 
5,070

 
—

 
—

Mixed use and other
 
4

 
1,385

 
3

 
1,083

 
—

 
—

 
2

 
423

 
—

 
—

Residential real estate and other
 
102

 
15,126

 
101

 
14,815

 
24

 
4,537

 
1

 
311

 
—

 
—

Total loans
 
127

 
$
46,804

 
115

 
$
26,964

 
25

 
$
5,087

 
16

 
$
26,527

 
—

 
$
—

Nine months ended September 30, 2018
(Dollars in thousands)
 
Total (1)(2)
 
Extension at
Below Market
Terms (2)
 
Reduction of Interest
Rate (2)
 
Modification to 
Interest-only
Payments (2)
 
Forgiveness of Debt(2)
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
 
Count
 
Balance
Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial and other
 
4

 
$
13,442

 
3

 
$
692

 
—

 
$
—

 
1

 
$
12,750

 
—

 
$
—

Franchise
 
3

 
5,157

 
1

 
35

 
—

 
—

 
2

 
5,122

 
—

 
—

Leases
 
1

 
239

 
1

 
239

 
—

 
—

 
—

 
—

 
—

 
—

Commercial real estate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Office
 
1

 
59

 
1

 
59

 
—

 
—

 
—

 
—

 
—

 
—

Mixed use and other
 
1

 
85

 
1

 
85

 
1

 
85

 
—

 
—

 
—

 
—

Residential real estate and other
 
31

 
5,846

 
31

 
5,846

 
12

 
1,417

 
—

 
—

 
—

 
—

Total loans
 
41

 
$
24,828

 
38

 
$
6,956

 
13

 
$
1,502

 
3

 
$
17,872

 
—

 
$
—

(1)
TDRs may have more than one modification representing a concession. As such, TDRs during the period may be represented in more than one of the categories noted above.
(2)
Balances represent the recorded investment in the loan at the time of the restructuring.