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Loans (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Information Concerning Loan Portfolio by Collateral Types

The following table sets forth information concerning the loan portfolio by collateral types as of the dates indicated.

	March 31, 2020		December 31, 2019
Loans excluding PCD loans
Real estate loans
Residential		$2,537,240		$2,512,544
Commercial		6,391,975		6,325,108
Land, development and construction		929,014		999,923
Total real estate		9,858,229		9,837,575
Commercial, industrial & factored receivables		1,778,526		1,759,074
Consumer and other loans		235,200		247,307
Loans before unearned fees and deferred cost		11,871,955		11,843,956
Net unearned fees and costs		4,954		4,519
Total loans excluding PCD loans		11,876,909		11,848,475
PCD loans (note 1)
Real estate loans
Residential		42,779		45,795
Commercial		92,281		81,576
Land, development and construction		5,447		4,655
Total real estate		140,507		132,026
Commercial and industrial		9,756		3,342
Consumer and other loans		59		100
Total PCD loans		150,322		135,468
Total loans		12,027,231		11,983,943
Allowance for credit losses for loans that are not PCD loans		(140,803)		(40,429)
Allowance for credit losses for PCD loans		(17,930)		(226)
Total loans, net of allowance for credit losses		$11,868,498		$11,943,288

note 1:

Purchased credit deteriorated (“PCD”) loans are being accounted for pursuant to ASC Topic 326 effective January 1, 2020.

Summary of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio

The table below set forth the activity in the allowance for credit losses for the periods presented.

	Allowance for credit losses for loans that are not PCD loans	Allowance for credit losses on PCD loans	Total
Three-month ended March 31, 2020
Balance at beginning of period, prior to adoption of ASC 326	$40,429	$226	$40,655
Impact of adopting ASC 326	57,604	17,004	74,608
Loans charged-off	(2,350)	(1,257)	(3,607)
Recoveries of loans previously charged-off	1,201	962	2,163
Net charge-offs	(1,149)	(295)	(1,444)
Provision for credit losses	43,919	995	44,914
Balance at end of period	$140,803	$17,930	$158,733

Three-month ended March 31, 2019
Balance at beginning of period	$39,579	$191	$39,770
Loans charged-off	(1,447)	—	(1,447)
Recoveries of loans previously charged-off	676	—	676
Net charge-offs	(771)	—	(771)
Provision for credit losses	1,053	—	1,053
Balance at end of period	$39,861	$191	$40,052

The following tables present the activity in the allowance for credit losses by portfolio segment for the periods presented.

	Real Estate Loans
	Residential	Commercial	Land, develop., constr.	Comm., industrial & factored receivables	Consumer & other	Total
Allowance for credit losses for loans that are not PCD loans:
Three-month ended March 31, 2020
Beginning balance, prior to adoption of ASC 326	$4,257	$18,552	$2,319	$11,282	$4,019	$40,429
Impact of adopting ASC 326	11,412	35,596	6,932	2,995	669	57,604
Charge-offs	(294)	—	(24)	(1,117)	(915)	(2,350)
Recoveries	181	305	25	556	134	1,201
Provision for credit losses	4,675	37,073	4,929	(2,727)	(31)	43,919
Balance at end of period	$20,231	$91,526	$14,181	$10,989	$3,876	$140,803

Three-month ended March 31, 2019
Beginning of the period	$5,518	$22,978	$1,781	$6,414	$2,888	$39,579
Charge-offs	(201)	—	(31)	(664)	(551)	(1,447)
Recoveries	142	152	83	155	144	676
Provision for loan losses	(11)	(883)	387	1,025	535	1,053
Balance at end of period	$5,448	$22,247	$2,220	$6,930	$3,016	$39,861

	Real Estate Loans
	Residential	Commercial	Land, develop., constr.	Comm., industrial & factored receivables	Consumer & other	Total
Allowance for credit losses for loans that are PCD loans:
Three-month ended March 31, 2020
Beginning balance, prior to adoption of ASC 326	$ —	$ —	$177	$ —	$49	$226
Impact of adopting ASC 326	3,021	11,966	79	1,924	14	17,004
Charge-offs	(156)	(1,021)	—	(80)	—	(1,257)
Recoveries	141	244	293	283	1	962
Provision for credit losses	(154)	914	(291)	533	(7)	995
Balance at end of period	$2,852	$12,103	$258	$2,660	$57	$17,930

Three-month ended March 31, 2019
Beginning of the period	$ —	$ —	$177	$ —	$14	$191
Charge-offs	—	—	—	—	—	—
Recoveries	—	—	—	—	—	—
Provision for loan losses	—	—	—	—	—	—
Balance at end of period	$ —	$ —	$177	$ —	$14	$191

Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method

The following tables present the balance in the allowance for credit losses and the recorded investment in loans by portfolio segment and based on impairment method as of March 31, 2020 and December 31, 2019. Upon adoption of ASC Topic 326 effective January 1, 2020, the Company began to evaluate PCD loans that met the criteria for individual impairment analysis on a loan level basis. Previously, the Company accounted for PCD (formerly PCI) loans on a pool level basis pursuant to ASC 310-30 and were therefore collectively evaluated for period end December 31, 2019. Accrued interest receivable and unearned loan fees and costs are not included in the recorded investment because they are not material.

	Real Estate Loans
	Residential	Commercial	Land, develop., constr.	Comm., industrial & factored receivables	Consumer & other	Total
As of March 31, 2020
Allowance for credit losses:
Ending allowance balance attributable to:
Non-PCD loans
Individually evaluated for impairment	$322	$280	$4	$1,314	$ —	$1,920
Collectively evaluated for impairment	19,909	91,246	14,177	9,675	3,876	138,883
Total ending allowance balance, non-PCD	$20,231	$91,526	$14,181	$10,989	$3,876	$140,803
PCD loans
Individually evaluated for impairment	$ —	$9,917	$ —	$2,398	$ —	$12,315
Collectively evaluated for impairment	2,852	2,186	258	262	57	5,615
Total ending allowance balance, PCD	$2,852	$12,103	$258	$2,660	$57	$17,930
Total ending allowance balance	$23,083	$103,629	$14,439	$13,649	$3,933	$158,733

Loans:
Non-PCD loans
Individually evaluated for impairment	$4,659	$18,145	$781	$7,276	$134	$30,995
Collectively evaluated for impairment	2,532,581	6,373,830	928,233	1,771,250	235,066	11,840,960
Total non-PCD loans	$2,537,240	$6,391,975	$929,014	$1,778,526	$235,200	$11,871,955
PCD loans
Individually evaluated for impairment	$ —	$19,611	$ —	$3,165	$ —	$22,776
Collectively evaluated for impairment	42,779	72,670	5,447	6,591	59	127,546
Total PCD loans	$42,779	$92,281	$5,447	$9,756	$59	$150,322
Total ending loan balances	$2,580,019	$6,484,256	$934,461	$1,788,282	$235,259	$12,022,277

	Real Estate Loans
	Residential	Commercial	Land, develop., constr.	Comm., industrial & factored receivables	Consumer & other	Total
As of December 31, 2019
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$588	$375	$ —	$914	$1	$1,878
Collectively evaluated for impairment	3,669	18,177	2,319	10,368	4,018	38,551
Purchased credit impaired	—	—	177	—	49	226
Total ending allowance balance	$4,257	$18,552	$2,496	$11,282	$4,068	$40,655

Loans:
Individually evaluated for impairment	$6,475	$11,445	$865	$7,232	$123	$26,140
Collectively evaluated for impairment	2,506,069	6,313,663	999,058	1,751,842	247,184	11,817,816
Purchased credit impaired	45,795	81,576	4,655	3,342	100	135,468
Total ending loan balances	$2,558,339	$6,406,684	$1,004,578	$1,762,416	$247,407	$11,979,424

Summary of Impaired Loans

The table below summarizes impaired loan data for the periods presented.

	March 31, 2020	December 31, 2019
Performing TDRs (these are not included in nonperforming loans ("NPLs"))	$7,215	$8,012
Nonperforming TDRs (these are included in NPLs)	4,648	4,512
Total TDRs (these are included in impaired loans)	11,863	12,524
Impaired loans that are not TDRs	19,132	13,616
Total impaired loans, excluding PCD loans	$30,995	$26,140
Impaired PCD loans	22,776	—
Total impaired loans	$53,771	$26,140

Troubled Debt Restructured Loans by Loans Type

TDRs as of March 31, 2020 and December 31, 2019 quantified by loan type classified separately as accrual (performing loans) and non-accrual (non-performing loans) are presented in the tables below.

	Accruing	Non-accrual	Total
As of March 31, 2020
Real estate loans:
Residential	$4,660	$813	$5,473
Commercial	1,290	—	1,290
Land, development, construction	46	470	516
Total real estate loans	5,996	1,283	7,279
Commercial and industrial	1,085	3,365	4,450
Consumer and other	134	—	134
Total TDRs	$7,215	$4,648	$11,863


	Accruing	Non-Accrual	Total
As of December 31, 2019
Real estate loans:
Residential	$4,862	$1,147	$6,009
Commercial	1,706	—	1,706
Land, development, construction	175	—	175
Total real estate loans	6,743	1,147	7,890
Commercial and industrial	1,146	3,365	4,511
Consumer and other	123	—	123
Total TDRs	$8,012	$4,512	$12,524

Summary of Loans by Class Modified

The following table presents loans by class modified and for which there was a payment default within twelve months following the modification during the periods ending March 31, 2020 and 2019.

	Period ending				Period ending
	March 31, 2020				March 31, 2019
		Number	Recorded		Number		Recorded
		of loans	investment		of loans		investment
Residential		1	$169	—		$ —
Commercial real estate		1	267	—		—
Land, development, construction		—	—	—		—
Commercial and industrial		1	61	1		122
Consumer and other		—	—	—		—
Total		3	$497	1		$122

Summary of Loans Individually Evaluated for Impairment by Class of Loans

The following tables present non-PCD loans individually evaluated for impairment by class of loans as March 31, 2020 and December 31, 2019. The recorded investment is less than the unpaid principal balance due to partial charge-offs.

	Unpaid principal balance	Recorded investment	Allowance for credit losses allocated
As of March 31, 2020
With no related allowance recorded:
Residential real estate	$2,822	$2,669	$ —
Commercial real estate	16,470	15,003	—
Land, development, construction	755	725	—
Commercial and industrial	3,737	3,424	—
Consumer, other	110	109	—

With an allowance recorded:
Residential real estate	2,126	1,990	322
Commercial real estate	3,175	3,142	280
Land, development, construction	56	56	4
Commercial and industrial	3,922	3,852	1,314
Consumer, other	30	25	—
Total	$33,203	$30,995	$1,920


	Unpaid principal balance	Recorded investment	Allowance for loan losses allocated
As of December 31, 2019
With no related allowance recorded:
Residential real estate	$2,894	$2,744	$ —
Commercial real estate	11,031	10,015	—
Land, development, construction	886	865	—
Commercial and industrial	5,522	4,820	—
Consumer, other	99	98	—

With an allowance recorded:
Residential real estate	3,920	3,731	588
Commercial real estate	1,438	1,430	375

Land, development, construction	—	—	—
Commercial and industrial	2,486	2,412	914
Consumer, other	31	25	1
Total	$28,307	$26,140	$1,878

The following tables present PCD loans, accounted for pursuant to ASC Topic 326, individually evaluated for impairment by class of loans as of March 31, 2020. The recorded investment is less than the unpaid principal balance due to partial charge-offs and non-credit discounts. In addition, the interest income recognized during impairment excludes interest accretion recognized during the current reporting period.

	Unpaid principal balance	Recorded investment	Allowance for credit losses allocated
As of March 31, 2020, PCD loans
With no related allowance recorded:
Residential real estate	$ —	$ —	$ —
Commercial real estate	—	—	—
Land, development, construction	—	—	—
Commercial and industrial	—	—	—
Consumer, other	—	—	—

With an allowance recorded:
Residential real estate	—	—	—
Commercial real estate	35,999	19,611	9,917
Land, development, construction	—	—	—
Commercial and industrial	4,745	3,165	2,398
Consumer, other	—	—	—
Total	$40,744	$22,776	$12,315

Summary of Impairment by Class of Loans

	Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Three-month ended March 31, 2020
Real estate loans:
Residential	$5,567		$37		$ —
Commercial	14,795		31		—
Land, development, construction	823		2		—
Total real estate loans	21,185		70		—

Commercial and industrial	7,254		18		—
Consumer and other loans	129		2		—
Total	$28,568		$90		$ —

		Average of impaired loans		Interest income recognized during impairment		Cash basis interest income recognized
Three-month ended March 31, 2019
Real estate loans:
Residential		$5,945		$62		$ —
Commercial		7,787		25		—
Land, development, construction		117		1		—
Total real estate loans		13,849		88		—

Commercial and industrial		2,600		12		—
Consumer and other loans		140		2		—
Total		$16,589		$102		$ —

	Average of impaired loans	Interest income recognized during impairment	Cash basis interest income recognized
Three-month ended March 31, 2020, PCD loans
Real estate loans:
Residential	$ —	$ —	$ —
Commercial	20,128	125	—
Land, development, construction	—	—	—
Total real estate loans	20,128	125	—

Commercial and industrial	3,593	23	—
Consumer and other loans	—	—	—
Total	$23,721	$148	$ —

Summary of Nonperforming Loans

Nonperforming loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. All loans greater than 90 days past due are placed on non-accrual status, excluding factored receivables. For CBI’s factored receivables, which are commercial trade credits rather than promissory notes, the Company’s practice, in most cases, is to charge-off unpaid recourse receivables when they become 90 days past due from the invoice due date and the non-recourse receivables when they become 120 days past due from the statement billing date. Effective January 1, 2020 with the adoption of ASC Topic 326, the Company began including non-accrual PCD loans in its nonperforming loans. As such the nonperforming loans as of March 31, 2020 include PCD loans accounted for pursuant to ASC 326 as these loans are individually evaluated. The nonperforming loans do not include PCD (formerly PCI) loans as of December 31, 2019, as the PCD loans prior to adopting ASC Topic 326 were evaluated on a pool level basis.

Nonperforming loans were as follows:	March 31, 2020	December 31, 2019
Non-accrual loans, non-PCD	$45,305	$36,916
Non-accrual loans, PCD	33,893	—
Loans past due over 90 days and still accruing interest	535	1,692
Total nonperforming loans	$79,733	$38,608

Summary of Recorded Investment in Nonaccrual Loans and Loans Past Due Over 90 Days Still on Accrual by Class of Loans

The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days still on accrual by class of loans as of March 31, 2020 and December 31, 2019. Effective January 1, 2020 with the adoption of ASC Topic 326, the Company began including non-accrual PCD loans in its nonperforming loans. As such the nonperforming loans as of March 31, 2020 below include PCD loans accounted for pursuant to ASC 326 but does not include PCD (formerly PCI) loans in non-performing loans as of December 31, 2019.

	Non-accrual with no allocated allowance for credit losses	Non-accrual with allocated allowance for credit losses	Loans past due over 90 days still accruing
As of March 31, 2020
Non-PCD loans:
Residential real estate	$11,537	$926	$ —
Commercial real estate	18,386	2,264	—
Land, development, construction	2,107	470	—
Comm., industrial & factored receivables	5,713	2,869	535
Consumer, other	1,033	—	—
Total	$38,776	$6,529	$535

	Non-accrual with no allocated allowance for credit losses	Non-accrual with allocated allowance for credit losses	Loans past due over 90 days still accruing
As of March 31, 2020
PCD loans:
Residential real estate	$ 8,847	$—	$ —
Commercial real estate	10,722	9,609	—
Land, development, construction	1,334	—	—
Comm., industrial & factored receivables	1,396	1,969	—
Consumer, other	16	—	—
Total	$ 22,315	$11,578	$ —

	Non-accrual	Loans past due over 90 days still accruing
As of December 31, 2019
Non-PCD loans:
Residential real estate	$13,455	$ —
Commercial real estate	12,141	—
Land, development, construction	2,516	—
Commercial and industrial	7,884	1,692
Consumer, other	920	—
Total	$36,916	$1,692

Collateral dependent loans:

Collateral dependent loans are impaired loans where repayment is expected to be provided solely by the underlying collateral and there are no other available and reliable sources of repayment. They are written down to the lower of cost or collateral value less estimated selling costs. As of March 31, 2020, there were $19,611 of collateral-dependent loans which are secured by real-estate.

Summary Aging of Recorded Investment in Past Due Loans

The following table presents the aging of the recorded investment in past due non-PCD loans as of March 31, 2020 and December 31, 2019:

	Accruing Loans
As of March 31, 2020	Total	30 - 59 days past due	60 - 89 days past due	Greater than 90 days past due	Total past due	Loans not past due	Nonaccrual loans
Residential real estate	$2,537,240	$17,555	$910	$ —	$18,465	$2,506,312	$12,463
Commercial real estate	6,391,975	10,802	7,147	—	17,949	6,353,376	20,650
Land, development, construction	929,014	4,757	74	—	4,831	921,606	2,577
Comm., industrial & factored receivables	1,778,526	15,859	2,043	535	18,437	1,751,507	8,582
Consumer	235,200	1,870	377	—	2,247	231,920	1,033
	$11,871,955	$50,843	$10,551	$535	$61,929	$11,764,721	$45,305


	Accruing Loans
As of December 31, 2019	Total	30 - 59 days past due	60 - 89 days past due	Greater than 90 days past due	Total past due	Loans not past due	Nonaccrual loans
Residential real estate	$2,512,544	$7,601	$5,928	$ —	$13,529	$2,485,560	$13,455
Commercial real estate	6,325,108	7,554	2,577	—	10,131	6,302,836	12,141
Land, development, construction	999,923	1,343	2,349	—	3,692	993,715	2,516
Comm., industrial & factored receivables	1,759,074	14,924	12,465	1,692	29,081	1,722,109	7,884
Consumer	247,307	1,663	907	—	2,570	243,817	920
	$11,843,956	$33,085	$24,226	$1,692	$59,003	$11,748,037	$36,916

The following table presents the aging of the recorded investment in past due PCD loans as of March 31, 2020:

	Accruing Loans
As of March 31, 2020	Total	30 - 59 days past due	60 - 89 days past due	Greater than 90 days past due	Total past due	Loans not past due	Nonaccrual loans
Residential real estate	$42,779	$782	$ —	$ —	$782	$33,150	$8,847
Commercial real estate	92,281	870	—	—	870	71,080	20,331
Land, development, construction	5,447	12	35	—	47	4,066	1,334
Comm., industrial & factored receivables	9,756	1,049	168	—	1,217	5,174	3,365
Consumer	59	3	—	—	3	40	16
	$150,322	$2,716	$203	$ —	$2,919	$113,510	$33,893

Analysis of Risk Category of Loan by Class of Loans

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Effective January 1, 2020, the Company began accounting for PCD loans pursuant to ASC Topic 326. Previously, PCD (formerly PCI) loans were accounted for pursuant to ASC Topic 310-30. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

	Term Loans Amortized Cost Basis by Origination Year
Loan Category	2020	2019	2018	2017	2016	Prior	Revolving loans amortized cost	Total
As of March 31, 2020
Residential Non-PCD:
Risk rating
Pass	$96,916	$331,772	$340,612	$235,228	$191,581	$626,533	$659,493	$2,482,135
Special mention	—	—	272	1,258	3,182	21,568	3,414	29,694
Substandard	—	19	1,893	1,642	1,200	16,183	4,474	25,411
Total residential loans	$96,916	$331,791	$342,777	$238,128	$195,963	$664,284	$667,381	$2,537,240
Commercial Non-PCD:
Risk rating
Pass	$231,694	$1,068,021	$1,013,588	$908,262	$827,344	$2,162,917	$ —	$6,211,826
Special mention	555	6,378	3,801	16,580	13,985	79,175	—	120,474
Substandard	—	439	1,111	9,406	10,942	37,777	—	59,675
Total commercial loans	$232,249	$1,074,838	$1,018,500	$934,248	$852,271	$2,279,869	$ —	$6,391,975
Land, Dev., Construction Non-PCD:
Risk rating
Pass	$55,460	$414,429	$218,397	$84,358	$51,453	$93,530	$ —	$917,627
Special mention	—	184	626	584	—	6,042	—	7,436
Substandard	—	348	274	154	919	2,256	—	3,951
Total land, dev., construction loans	$55,460	$414,961	$219,297	$85,096	$52,372	$101,828	$ —	$929,014
Commercial & Industrial Non-PCD:
Risk rating
Pass	$113,652	$334,843	$382,869	$287,342	$161,970	$449,985	$ —	$1,730,661
Special mention	—	—	75	3,026	2,264	25,662	—	31,027
Substandard	98	995	5,212	5,480	3,020	2,033	—	16,838
Total commercial & industrial loans	$113,750	$335,838	$388,156	$295,848	$167,254	$477,680	$ —	$1,778,526
Consumer & Other Non-PCD:
Risk rating
Pass	$20,977	$65,488	$42,744	$25,046	$29,300	$23,642	$26,498	$233,695
Special mention	—	—	—	5	33	108	—	146
Substandard	—	141	106	137	670	267	38	1,359
Total consumer & other loans	$20,977	$65,629	$42,850	$25,188	$30,003	$24,017	$26,536	$235,200

Total, non-PCD loans	$ 519,352	$ 2,223,057	$ 2,011,580	$ 1,578,508	$ 1,297,863	$ 3,547,678	$ 693,917	$ 11,871,955

	Term Loans Amortized Cost Basis by Origination Year
Loan Category	2020	2019	2018	2017	2016	Prior	Revolving loans amortized cost	Total
As of March 31, 2020
Residential PCD:
Risk rating
Pass	$ —	$ —	$ —	$ —	$268	$14,814	$3,695	$18,777
Special mention	—	—	—	—	—	3,849	224	4,073
Substandard	—	98	—	3	500	16,945	2,383	19,929
Total residential loans	$ —	$98	$ —	$3	$768	$35,608	$6,302	$42,779
Commercial PCD:
Risk rating
Pass	$ —	$ —	$ —	$ —	$ —	$25,820	$ —	$25,820
Special mention	—	—	—	—	—	10,792	—	10,792
Substandard	—	1,807	—	2,801	678	50,383	—	55,669
Total commercial loans	$ —	$1,807	$ —	$2,801	$678	$86,995	$ —	$92,281
Land, Dev., Construction PCD:
Risk rating
Pass	$ —	$ —	$ —	$ —	$ —	$1,810	$ —	$1,810
Special mention	—	—	—	—	—	630	—	630
Substandard	—	—	188	—	121	2,698	—	3,007
Total land, dev., construction loans	$ —	$ —	$188	$ —	$121	$5,138	$ —	$5,447
Commercial & Industrial PCD:
Risk rating
Pass	$ —	$ —	$15	$ —	$ —	$1,398	$ —	$1,413
Special mention	—	—	—	—	—	405	—	405
Substandard	—	—	48	1,123	1,286	5,481	—	7,938
Total commercial & industrial loans	$ —	$ —	$63	$1,123	$1,286	$7,284	$ —	$9,756
Consumer & Other PCD:
Risk rating
Pass	$ —	$ —	$ —	$ —	$ —	$30	$3	$33
Special mention	—	—	—	—	—	—	—	—
Substandard	—	—	—	1	—	25	—	26
Total consumer & other loans	$ —	$ —	$ —	$1	$ —	$55	$3	$59

Total, PCD loans	$ —	$1,905	$251	$3,928	$2,853	$135,080	$6,305	$150,322

Risk Category of Loans by Class of Loans, Excluding Purchased Credit Impaired Loans

As of December 31, 2019, the risk category of loans by class of loans, excluding purchased credit deteriorated loans, is presented below.

	As of December 31, 2019
Loan Category	Pass	Special Mention	Substandard	Doubtful
Residential real estate	$2,455,752	$31,189	$25,603	$ —
Commercial real estate	6,151,309	118,412	55,387	—
Land, development, construction	989,860	6,418	3,645	—
Comm., industrial & factored receivables	1,705,862	35,070	18,142	—
Consumer	245,905	160	1,242	—
Total	$11,548,688	$191,249	$104,019	$ —

Performance of the Loan Portfolio and its Impact on the Allowance for Credit Losses

The Company considers the performance of the loan portfolio and its impact on the allowance for credit losses. For residential and consumer loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity.

	Term Loans Amortized Cost Basis by Origination Year
Loan Category	2020	2019	2018	2017	2016	Prior	Revolving loans amortized cost	Total
As of March 31, 2020
Residential Non-PCD:
Performing	$96,916	$331,639	$342,340	$236,663	$195,436	$657,475	$664,308	$2,524,777
Nonperforming	—	152	437	1,465	527	6,809	3,073	12,463
Total residential loans	$96,916	$331,791	$342,777	$238,128	$195,963	$664,284	$667,381	$2,537,240

Consumer & Other Non-PCD:
Performing	$20,977	$65,599	$42,794	$25,055	$29,469	$23,750	$26,523	$234,167
Nonperforming	—	30	56	133	534	267	13	1,033
Total consumer & other loans	$20,977	$65,629	$42,850	$25,188	$30,003	$24,017	$26,536	$235,200

As of March 31, 2020
Residential PCD:
Performing	$ —	$98	$ —	$ —	$471	$27,984	$5,379	$33,932
Nonperforming	—	—	—	3	297	7,624	923	8,847
Total residential loans	$ —	$98	$ —	$3	$768	$35,608	$6,302	$42,779

Consumer & Other PCD:
Performing	$ —	$ —	$ —	$1	$ —	$39	$3	$43
Nonperforming	—	—	—	—	—	16	—	16
Total consumer & other loans	$ —	$ —	$ —	$1	$ —	$55	$3	$59

As of December 31, 2019	Residential	Consumer
Performing	$2,499,089	$246,387
Nonperforming	13,455	920
Total	$2,512,544	$247,307

Summary of Total Contractually Required Principal and Interest Cash Payments, Management's Estimate of Expected Total Cash Payments and Carrying Value of Loans

The table below summarizes the total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of the loans as of December 31, 2019. Contractually required principal and interest payments were adjusted for estimated prepayments.

			December 31, 2019
Contractually required principal and interest			$244,189
Non-accretable difference			(46,271)
Cash flows expected to be collected			197,918
Accretable yield			(62,450)
Carrying value of acquired loans			135,468
Allowance for credit losses			(226)
Carrying value less allowance for credit losses			$135,242

Summary of Changes in Total Contractually Required Principal and Interest Cash Payments

The table below summarizes the changes in total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of the loans during the three-month period ending March 31, 2019.

Activity during the		Effect of	income	all other
three-month period ending March 31, 2019	December 31, 2018	acquisitions	accretion	adjustments	March 31, 2019
Contractually required principal and interest	$267,815	$ —	$ —	$(19,572)	$248,243
Non-accretable difference	(38,602)	—	—	9,737	(28,865)
Cash flows expected to be collected	229,213	—	—	(9,835)	219,378
Accretable yield	(70,242)	—	10,140	(9,820)	(69,922)
Carry value of acquired loans	$158,971	$ —	$10,140	$(19,655)	$149,456