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Loans and Leases (Tables)
 3 Months Ended
Mar. 31, 2019
Receivables [Abstract]  
Summary of Major Loan and Lease Categories
 
At March 31, 2019
(Dollars in thousands)
Originated
 
Acquired
 
Total
Commercial, financial and agricultural
$
910,493

 
$
17,145

 
$
927,638

Real estate-commercial
1,576,250

 
222,955

 
1,799,205

Real estate-construction
216,964

 
—

 
216,964

Real estate-residential secured for business purpose
304,574

 
56,348

 
360,922

Real estate-residential secured for personal purpose
361,488

 
47,652

 
409,140

Real estate-home equity secured for personal purpose
172,587

 
8,311

 
180,898

Loans to individuals
32,462

 
141

 
32,603

Lease financings
140,509

 
—

 
140,509

Total loans and leases held for investment, net of deferred income
$
3,715,327

 
$
352,552

 
$
4,067,879

Imputed interest on lease financings, included in the above table
$
(15,082
)
 
$
—

 
$
(15,082
)
Net deferred costs, included in the above table
4,426

 
—

 
4,426

Overdraft deposits included in the above table
208

 
—

 
208



 
At December 31, 2018
(Dollars in thousands)
Originated
 
Acquired
 
Total
Commercial, financial and agricultural
$
913,166

 
$
24,519

 
$
937,685

Real estate-commercial
1,507,579

 
233,625

 
1,741,204

Real estate-construction
215,513

 
—

 
215,513

Real estate-residential secured for business purpose
302,393

 
60,403

 
362,796

Real estate-residential secured for personal purpose
338,451

 
49,959

 
388,410

Real estate-home equity secured for personal purpose
177,523

 
8,728

 
186,251

Loans to individuals
32,617

 
142

 
32,759

Lease financings
141,956

 
—

 
141,956

Total loans and leases held for investment, net of deferred income
$
3,629,198

 
$
377,376

 
$
4,006,574

Imputed interest on lease financings, included in the above table
$
(15,118
)
 
$
—

 
$
(15,118
)
Net deferred costs, included in the above table
3,930

 
—

 
3,930

Overdraft deposits included in the above table
139

 
—

 
139
Schedule of Impaired Loans
The outstanding principal balance and carrying amount for acquired credit impaired loans at March 31, 2019 and December 31, 2018 were as follows:
(Dollars in thousands)
At March 31, 2019
 
At December 31, 2018
Outstanding principal balance
$
871

 
$
893

Carrying amount
693

 
695

Reserve for loan losses
—

 
—

The following table presents the changes in accretable yield on acquired credit impaired loans:
 
Three Months Ended March 31,
(Dollars in thousands)
2019
 
2018
Beginning of period
$
—

 
$
11

Reclassification from nonaccretable discount
142

 
81

Accretable yield amortized to interest income
(142
)
 
(87
)
End of period
$
—

 
$
5

The following presents, by class of loans, the recorded investment and unpaid principal balance of impaired loans, the amounts of the impaired loans for which there is not a reserve for credit losses and the amounts for which there is a reserve for credit losses at March 31, 2019 and December 31, 2018. The impaired loans exclude acquired credit impaired loans.
 
At March 31, 2019
 
At December 31, 2018
(Dollars in thousands)
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Reserve
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Reserve
Impaired loans with no related reserve recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural
$
2,581

 
$
3,195

 
 
 
$
2,776

 
$
3,361

 
 
Real estate—commercial real estate
5,600

 
6,569

 
 
 
6,578

 
7,516

 
 
Real estate—construction
106

 
111

 
 
 
106

 
111

 
 
Real estate—residential secured for business purpose
1,232

 
1,417

 
 
 
1,478

 
1,660

 
 
Real estate—residential secured for personal purpose
911

 
975

 
 
 
863

 
911

 
 
Real estate—home equity secured for personal purpose
1,418

 
1,469

 
 
 
1,373

 
1,404

 
 
Total impaired loans with no related reserve recorded
$
11,848

 
$
13,736

 
 
 
$
13,174

 
$
14,963

 
 
Impaired loans with a reserve recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural
$
593

 
$
939

 
$
243

 
$
971

 
$
1,024

 
$
413

Real estate—commercial real estate
12,761

 
13,423

 
925

 
11,637

 
12,162

 
675

Real estate—residential secured for personal purpose
725

 
725

 
260

 
724

 
724

 
252

Real estate—home equity secured for personal purpose
75

 
75

 
75

 
75

 
75

 
75

Total impaired loans with a reserve recorded
$
14,154

 
$
15,162

 
$
1,503

 
$
13,407

 
$
13,985

 
$
1,415

Total impaired loans:
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural
$
3,174

 
$
4,134

 
$
243

 
$
3,747

 
$
4,385

 
$
413

Real estate—commercial real estate
18,361

 
19,992

 
925

 
18,215

 
19,678

 
675

Real estate—construction
106

 
111

 
—

 
106

 
111

 
—

Real estate—residential secured for business purpose
1,232

 
1,417

 
—

 
1,478

 
1,660

 
—

Real estate—residential secured for personal purpose
1,636

 
1,700

 
260

 
1,587

 
1,635

 
252

Real estate—home equity secured for personal purpose
1,493

 
1,544

 
75

 
1,448

 
1,479

 
75

Total impaired loans
$
26,002

 
$
28,898

 
$
1,503

 
$
26,581

 
$
28,948

 
$
1,415


Impaired loans include nonaccrual loans and accruing troubled debt restructured loans for which it is probable that not all principal and interest payments due will be collectible in accordance with the original contractual terms. These loans are individually measured to determine the amount of potential impairment. The loans are reviewed for impairment based on the fair value of the collateral for collateral dependent loans and for certain loans based on discounted cash flows using the loans’ initial effective interest rates.
Schedule of Age Analysis of Past Due Loans and Leases
The following presents, by class of loans and leases, an aging of past due loans and leases, loans and leases which are current and the recorded investment in loans and leases 90 days or more past due which are accruing interest at March 31, 2019 and December 31, 2018:
(Dollars in thousands)
30-59
Days
Past Due
 
60-89
Days
Past Due
 
90 Days
or more
Past Due
 
Total
Past Due
 
Current
 
Acquired Credit Impaired
 
Total Loans
and Leases
Held for
Investment
 
Recorded
Investment 90
Days or more
Past Due and
Accruing
Interest
At March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural
$
1,661

 
$
210

 
$
1,952

 
$
3,823

 
$
923,815

 
$
—

 
$
927,638

 
$
—

Real estate—commercial real estate and construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
2,133

 
647

 
5,518

 
8,298

 
1,790,701

 
206

 
1,799,205

 
—

Construction
341

 
—

 
106

 
447

 
216,517

 
—

 
216,964

 
—

Real estate—residential and home equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential secured for business purpose
1,521

 
515

 
1,138

 
3,174

 
357,323

 
425

 
360,922

 
—

Residential secured for personal purpose
3,346

 
—

 
1,811

 
5,157

 
403,921

 
62

 
409,140

 
325

Home equity secured for personal purpose
304

 
90

 
1,389

 
1,783

 
179,115

 
—

 
180,898

 
—

Loans to individuals
173

 
94

 
54

 
321

 
32,282

 
—

 
32,603

 
54

Lease financings
723

 
438

 
477

 
1,638

 
138,871

 
—

 
140,509

 
257

Total
$
10,202

 
$
1,994

 
$
12,445

 
$
24,641

 
$
4,042,545

 
$
693

 
$
4,067,879

 
$
636

At December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural
$
1,043

 
$
270

 
$
2,228

 
$
3,541

 
$
934,144

 
$
—

 
$
937,685

 
$
—

Real estate—commercial real estate and construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
5,425

 
1,538

 
1,599

 
8,562

 
1,732,436

 
206

 
1,741,204

 
—

Construction
2,163

 
106

 
—

 
2,269

 
213,244

 
—

 
215,513

 
—

Real estate—residential and home equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential secured for business purpose
2,497

 
777

 
1,164

 
4,438

 
357,932

 
426

 
362,796

 
—

Residential secured for personal purpose
2,334

 
—

 
1,586

 
3,920

 
384,427

 
63

 
388,410

 
—

Home equity secured for personal purpose
305

 
96

 
1,341

 
1,742

 
184,509

 
—

 
186,251

 
—

Loans to individuals
207

 
29

 
55

 
291

 
32,468

 
—

 
32,759

 
55

Lease financings
2,460

 
411

 
307

 
3,178

 
138,778

 
—

 
141,956

 
137

Total
$
16,434

 
$
3,227

 
$
8,280

 
$
27,941

 
$
3,977,938

 
$
695

 
$
4,006,574

 
$
192
Schedule of Nonperforming Loans and Leases
The following presents, by class of loans and leases, nonperforming loans and leases at March 31, 2019 and December 31, 2018. Nonperforming loans exclude acquired credit impaired loans from Fox Chase and Valley Green.
 
At March 31, 2019
 
At December 31, 2018
(Dollars in thousands)
Nonaccrual
Loans and
Leases*
 
Accruing
Troubled
Debt
Restructured
Loans and
Lease
Modifications
 
Loans and
Leases
90 Days
or more
Past Due
and
Accruing
Interest
 
Total Nonperforming
Loans and
Leases
 
Nonaccrual
Loans and
Leases*
 
Accruing
Troubled
Debt
Restructured
Loans and
Lease
Modifications
 
Loans and
Leases
90 Days
or more
Past Due
and
Accruing
Interest
 
Total Nonperforming
Loans and
Leases
Commercial, financial and agricultural
$
2,904

 
$
270

 
$
—

 
$
3,174

 
$
3,365

 
$
382

 
$
—

 
$
3,747

Real estate—commercial real estate and construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
18,361

 
—

 
—

 
18,361

 
18,214

 
—

 
—

 
18,214

Construction
106

 
—

 
—

 
106

 
106

 
—

 
—

 
106

Real estate—residential and home equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential secured for business purpose
1,232

 
—

 
—

 
1,232

 
1,318

 
160

 
—

 
1,478

Residential secured for personal purpose
1,636

 
—

 
325

 
1,961

 
1,587

 
—

 
—

 
1,587

Home equity secured for personal purpose
1,493

 
—

 
—

 
1,493

 
1,448

 
—

 
—

 
1,448

Loans to individuals
—

 
—

 
54

 
54

 
—

 
—

 
55

 
55

Lease financings
220

 
—

 
257

 
477

 
170

 
—

 
137

 
307

Total
$
25,952

 
$
270

 
$
636

 
$
26,858

 
$
26,208

 
$
542

 
$
192

 
$
26,942

 * Includes nonaccrual troubled debt restructured loans of $3.2 million and $1.3 million at March 31, 2019 and December 31, 2018, respectively.
Summary of Credit Quality Indicators
The following table presents classifications for originated loans:
(Dollars in thousands)
Real Estate—
Residential
Secured for
Personal Purpose
 
Real Estate—
Home Equity
Secured for
Personal Purpose
 
Loans to
Individuals
 
Lease
Financings
 
Total
At March 31, 2019
 
 
 
 
 
 
 
 
 
Performing
$
360,486

 
$
172,143

 
$
32,408

 
$
140,032

 
$
705,069

Nonperforming
1,002

 
444

 
54

 
477

 
1,977

Total
$
361,488

 
$
172,587

 
$
32,462

 
$
140,509

 
$
707,046

At December 31, 2018
 
 
 
 
 
 
 
 
 
Performing
$
337,762

 
$
177,139

 
$
32,562

 
$
141,649

 
$
689,112

Nonperforming
689

 
384

 
55

 
307

 
1,435

Total
$
338,451

 
$
177,523

 
$
32,617

 
$
141,956

 
$
690,547


The following table presents classifications for acquired loans:
(Dollars in thousands)
Real Estate—
Residential
Secured for
Personal Purpose
 
Real Estate—
Home Equity
Secured for
Personal Purpose
 
Loans to
Individuals
 
Lease
Financings
 
Total
At March 31, 2019
 
 
 
 
 
 
 
 
 
Performing
$
46,693

 
$
7,262

 
$
141

 
$
—

 
$
54,096

Nonperforming
959

 
1,049

 
—

 
—

 
2,008

Total
$
47,652

 
$
8,311

 
$
141

 
$
—

 
$
56,104

At December 31, 2018
 
 
 
 
 
 
 
 
 
Performing
$
49,061

 
$
7,664

 
$
142

 
$
—

 
$
56,867

Nonperforming
898

 
1,064

 
—

 
—

 
1,962

Total
$
49,959

 
$
8,728

 
$
142

 
$
—

 
$
58,829

The following tables present by class, the recorded investment in loans and leases held for investment by credit quality indicator at March 31, 2019 and December 31, 2018.
The Corporation employs a risk rating system related to the credit quality of commercial loans and residential real estate loans secured for a business purpose. The following is a description of the internal risk ratings and the likelihood of loss related to each risk rating. Loans with a relationship balance of less than $1 million are reviewed on a performance basis, with the primary monitored metrics being delinquency (60 days or more past due). Loans with relationships greater than $1 million are reviewed at least annually.  Loan relationships exceeding $15 million or classified as special mention or substandard are reviewed at least quarterly, or more frequently based on management’s discretion. 

1.
Pass—Loans considered satisfactory with no indications of deterioration
2.
Special Mention—Potential weakness that deserves management's close attention
3.
Substandard—Well-defined weakness or weaknesses that jeopardize the liquidation of the debt
4.
Doubtful—Collection or liquidation in-full, on the basis of current existing facts, conditions and values, highly questionable and improbable

Commercial Credit Exposure Credit Risk by Internally Assigned Grades
The following table presents classifications for originated loans:
(Dollars in thousands)
Commercial,
Financial and
Agricultural
 
Real Estate—
Commercial
 
Real Estate—
Construction
 
Real Estate—
Residential Secured
for Business Purpose
 
Total
At March 31, 2019
 
 
 
 
 
 
 
 
 
Grade:
 
 
 
 
 
 
 
 
 
1. Pass
$
871,541

 
$
1,528,969

 
$
216,858

 
$
300,736

 
$
2,918,104

2. Special Mention
16,680

 
26,608

 
—

 
755

 
44,043

3. Substandard
22,272

 
20,673

 
106

 
3,083

 
46,134

4. Doubtful
—

 
—

 
—

 
—

 
—

Total
$
910,493

 
$
1,576,250

 
$
216,964

 
$
304,574

 
$
3,008,281

At December 31, 2018
 
 
 
 
 
 
 
 
 
Grade:
 
 
 
 
 
 
 
 
 
1. Pass
$
882,736

 
$
1,455,234

 
$
215,407

 
$
298,356

 
$
2,851,733

2. Special Mention
23,287

 
31,791

 
—

 
721

 
55,799

3. Substandard
7,143

 
20,554

 
106

 
3,316

 
31,119

4. Doubtful
—

 
—

 
—

 
—

 
—

Total
$
913,166

 
$
1,507,579

 
$
215,513

 
$
302,393

 
$
2,938,651

The following table presents classifications for acquired loans:
(Dollars in thousands)
Commercial,
Financial and
Agricultural
 
Real Estate—
Commercial
 
Real Estate—
Construction
 
Real Estate—
Residential Secured
for Business Purpose
 
Total
At March 31, 2019
 
 
 
 
 
 
 
 
 
Grade:
 
 
 
 
 
 
 
 
 
1. Pass
$
17,145

 
$
210,240

 
$
—

 
$
55,598

 
$
282,983

2. Special Mention
—

 
—

 
—

 
—

 
—

3. Substandard
—

 
12,715

 
—

 
750

 
13,465

4. Doubtful
—

 
—

 
—

 
—

 
—

Total
$
17,145

 
$
222,955

 
$
—

 
$
56,348

 
$
296,448

December 31, 2018
 
 
 
 
 
 
 
 
 
Grade:
 
 
 
 
 
 
 
 
 
1. Pass
$
24,450

 
$
220,911

 
$
—

 
$
59,567

 
$
304,928

2. Special Mention
—

 
—

 
—

 
—

 
—

3. Substandard
69

 
12,714

 
—

 
836

 
13,619

4. Doubtful
—

 
—

 
—

 
—

 
—

Total
$
24,519

 
$
233,625

 
$
—

 
$
60,403

 
$
318,547
Summary of Activity in the Reserve for Loan and Lease Losses
The following presents, by portfolio segment, a summary of the activity in the reserve for loan and lease losses for the three months ended March 31, 2019 and 2018:
(Dollars in thousands)
Commercial,
Financial
and
Agricultural
 
Real Estate—
Commercial
and
Construction
 
Real Estate—
Residential
Secured for
Business
Purpose
 
Real Estate—
Residential
and Home
Equity
Secured for
Personal
Purpose
 
Loans to
Individuals
 
Lease
Financings
 
Unallocated
 
Total
Three Months Ended March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reserve for loan and lease losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
7,983

 
$
13,903

 
$
2,236

 
$
3,199

 
$
484

 
$
1,288

 
$
271

 
$
29,364

Charge-offs
(468
)
 
(41
)
 
—

 
(11
)
 
(85
)
 
(104
)
 
N/A

 
(709
)
Recoveries
82

 
91

 
4

 
5

 
22

 
58

 
N/A

 
262

Provision (recovery of provision)
1,353

 
1,028

 
62

 
185

 
48

 
33

 
(25
)
 
2,684

Provision for acquired credit impaired loans
—

 
—

 
—

 
1

 
—

 
—

 
—

 
1

Ending balance
$
8,950

 
$
14,981

 
$
2,302

 
$
3,379

 
$
469

 
$
1,275

 
$
246

 
$
31,602

Three Months Ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reserve for loan and lease losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
$
6,742

 
$
9,839

 
$
1,661

 
$
1,754

 
$
373

 
$
1,132

 
$
54

 
$
21,555

Charge-offs
(601
)
 
(40
)
 
—

 
—

 
(92
)
 
(136
)
 
N/A

 
(869
)
Recoveries
226

 
73

 
251

 
57

 
30

 
34

 
N/A

 
671

Provision (recovery of provision)
575

 
1,306

 
(41
)
 
96

 
61

 
49

 
6

 
2,052

Provision for acquired credit impaired loans
—

 
—

 
—

 
1

 
—

 
—

 
—

 
1

Ending balance
$
6,942

 
$
11,178

 
$
1,871

 
$
1,908

 
$
372

 
$
1,079

 
$
60

 
$
23,410

N/A – Not applicable
    
Summary of Average Recorded Investment in Impaired Loans and Leases and Analysis of Interest on Impaired Loans
The following presents by class of loans, the average recorded investment in impaired loans and an analysis of interest on impaired loans. A loan may remain on accrual status if it is an accruing troubled debt restructured loan or if it is in the process of collection and is either guaranteed or well secured. Therefore, interest income on accruing impaired loans is recognized using the accrual method. 
 
Three Months Ended March 31, 2019
 
Three Months Ended March 31, 2018
(Dollars in thousands)
Average
Recorded
Investment
 
Interest
Income
Recognized*
 
Additional
Interest Income
That Would
Have Been
Recognized
Under Original
Terms
 
Average
Recorded
Investment
 
Interest
Income
Recognized*
 
Additional
Interest Income
That Would
Have Been
Recognized
Under Original
Terms
Commercial, financial and agricultural
$
3,650

 
$
5

 
$
54

 
$
7,703

 
$
40

 
$
77

Real estate—commercial real estate
18,245

 
3

 
254

 
19,916

 
172

 
287

Real estate—construction
106

 
—

 
1

 
183

 
—

 
2

Real estate—residential secured for business purpose
1,277

 
—

 
20

 
2,217

 
5

 
24

Real estate—residential secured for personal purpose
1,619

 
—

 
25

 
544

 
1

 
11

Real estate—home equity secured for personal purpose
1,426

 
—

 
23

 
549

 
—

 
8

Total
$
26,323

 
$
8

 
$
377

 
$
31,112

 
$
218

 
$
409

*
Includes interest income recognized on a cash basis for nonaccrual loans of $3 thousand and $6 thousand for the three months ended March 31, 2019 and 2018, respectively, and interest income recognized on the accrual method for accruing impaired loans of $5 thousand and $212 thousand for the three months ended March 31, 2019 and 2018, respectively.
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Troubled Debt Restructured Loans
The following presents, by class of loans, information regarding consumer mortgages collateralized by residential real estate property that are in the process of foreclosure at March 31, 2019 and December 31, 2018:
(Dollars in thousands)
At March 31, 2019
 
At December 31, 2018
Real estate-residential secured for personal purpose
$
563

 
$
563

Real estate-home equity secured for personal purpose
1,134

 
1,134

Total
$
1,697

 
$
1,697

The Corporation held no foreclosed residential real estate property at March 31, 2019 and December 31, 2018.
 
 
 
 
The following presents, by class of loans, information regarding accruing and nonaccrual loans that were restructured:
 
Three Months Ended March 31, 2019
 
Three Months Ended March 31, 2018
(Dollars in thousands)
Number
of
Loans
 
Pre-
Restructuring
Outstanding
Recorded
Investment
 
Post-
Restructuring
Outstanding
Recorded
Investment
 
Related
Reserve
 
Number
of
Loans
 
Pre-
Restructuring
Outstanding
Recorded
Investment
 
Post-
Restructuring
Outstanding
Recorded
Investment
 
Related
Reserve
Accruing Troubled Debt Restructured Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
—

 
$
—

 
$
—

 
$
—

 
—

 
$
—

 
$
—

 
$
—

Nonaccrual Troubled Debt Restructured Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, financial and agricultural*
2

 
$
956

 
$
956

 
$
—

 
—

 
$
—

 
$
—

 
$
—

Real estate—commercial real estate*
1

 
1,313

 
1,313

 
—

 
—

 
—

 
—

 
—

Total
3

 
$
2,269

 
$
2,269

 
$
—

 
—

 
$
—

 
$
—

 
$
—

* The three loans in the above table were modified via the execution of a forbearance agreement. These loans relate to one borrower and were on nonaccrual status at the time of modification.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Accruing and Nonaccruing Troubled Debt Restructured Loans
The following presents, by class of loans, information regarding accruing and nonaccrual troubled debt restructured loans, for which there were payment defaults within twelve months of the restructuring date:
 
Three Months Ended March 31,
 
2019
 
2018
(Dollars in thousands)
Number
of Loans
 
Recorded
Investment
 
Number
of Loans
 
Recorded
Investment
Accruing Troubled Debt Restructured Loans:
 
 
 
 
 
 
 
Total
—

 
$
—

 
—

 
$
—

Nonaccrual Troubled Debt Restructured Loans:
 
 
 
 
 
 
 
Commercial, financial and agricultural
—

 
$
—

 
1

 
$
953

Total
—

 
$
—

 
1

 
$
953
Lease Payments Receivables
The following presents the schedule of minimum lease payments receivable:
(Dollars in thousands)
At March 31, 2019
 
At December 31, 2018
2019 (excluding the three months ended March 31, 2019)
$
42,206

 
$
55,201

2020
46,128

 
43,355

2021
32,719

 
29,678

2022
20,447

 
17,687

2023
8,895

 
6,674

Thereafter
2,647

 
1,975

Total future minimum lease payments receivable
153,042

 
154,570

Plus: Unguaranteed residual
672

 
600

Plus: Initial direct costs
1,877

 
1,904

Less: Imputed interest
(15,082
)
 
(15,118
)
Lease financings
$
140,509

 
$
141,956