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Loans (Tables)
 6 Months Ended
Jun. 30, 2017
Receivables [Abstract]  
Summary of loans under portfolio
A summary of the Corporation's loans follows:
(Dollars in thousands)
 
Originated
 
Acquired(1)
 
Total Loans
 
June 30, 2017
 
 
 
 
 
 
 
Commercial loan portfolio:
 
 
 
 
 
 
 
Commercial
 
$
2,184,283

 
$
1,175,878

 
$
3,360,161

 
Commercial real estate
 
2,405,772

 
1,918,551

 
4,324,323

 
Real estate construction and land development
 
349,395

 
97,283

 
446,678

 
Subtotal
 
4,939,450

 
3,191,712

 
8,131,162

 
Consumer loan portfolio:
 
 
 
 
 
 
 
Residential mortgage
 
1,683,550

 
1,441,847

 
3,125,397

 
Consumer installment
 
1,429,088

 
124,879

 
1,553,967

 
Home equity
 
607,534

 
249,312

 
856,846

 
Subtotal
 
3,720,172

 
1,816,038

 
5,536,210

 
Total loans
 
$
8,659,622

 
$
5,007,750

 
$
13,667,372

(2) 
December 31, 2016
 
 
 
 
 
 
 
Commercial loan portfolio:
 
 
 
 
 
 
 
Commercial
 
$
1,901,526

 
$
1,315,774

 
$
3,217,300

 
Commercial real estate
 
1,921,799

 
2,051,341

 
3,973,140

 
Real estate construction and land development
 
281,724

 
122,048

 
403,772

 
Subtotal
 
4,105,049

 
3,489,163

 
7,594,212

 
Consumer loan portfolio:
 
 
 
 
 
 
 
Residential mortgage
 
1,475,342

 
1,611,132

 
3,086,474

 
Consumer installment
 
1,282,588

 
151,296

 
1,433,884

 
Home equity
 
595,422

 
280,787

 
876,209

 
Subtotal
 
3,353,352

 
2,043,215

 
5,396,567

 
Total loans
 
$
7,458,401

 
$
5,532,378

 
$
12,990,779

(2) 
(1) Acquired loans are accounted for under ASC 310-30.
(2) Reported net of deferred costs totaling $20.0 million and $14.8 million at June 30, 2017 and December 31, 2016, respectively.
Schedule of activity for accretable yield
Activity for the accretable yield, which includes contractually due interest for acquired loans that have been renewed or extended since the date of acquisition and continue to be accounted for in loan pools in accordance with ASC 310-30, follows:
(Dollars in thousands)
 
Talmer
 
Lake Michigan
 
Monarch
 
North-western
 
OAK
 
Total
Three Months Ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of period
 
$
774,778

 
$
113,211

 
$
26,055

 
$
64,897

 
$
21,467

 
$
1,000,408

Accretion recognized in interest income
 
(45,091
)
 
(7,583
)
 
(1,159
)
 
(5,467
)
 
(3,314
)
 
(62,614
)
Net reclassification (to) from nonaccretable difference(1)
 
71,682

 
15,944

 
(626
)
 
11,782

 
1,643

 
100,425

Balance at end of period
 
$
801,369

 
$
121,572

 
$
24,270

 
$
71,212

 
$
19,796

 
$
1,038,219

 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of period
 
$
—

 
$
137,975

 
$
33,235

 
$
76,368

 
$
27,036

 
$
274,614

Accretion recognized in interest income
 
—

 
(8,338
)
 
(1,385
)
 
(4,028
)
 
(3,727
)
 
(17,478
)
Net reclassification (to) from nonaccretable difference(1)
 
—

 
(4,294
)
 
(991
)
 
1,406

 
3,283

 
(596
)
Balance at end of period
 
$
—

 
$
125,343

 
$
30,859

 
$
73,746

 
$
26,592

 
$
256,540

 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2017
 
 
 
 
Balance at beginning of period
 
$
798,210

 
$
121,416

 
$
27,182

 
$
69,847

 
$
23,316

 
$
1,039,971

Accretion recognized in interest income
 
(89,662
)
 
(14,849
)
 
(2,340
)
 
(9,359
)
 
(6,591
)
 
(122,801
)
Net reclassification (to) from nonaccretable difference(1)
 
92,821

 
15,005

 
(572
)
 
10,724

 
3,071

 
121,049

Balance at end of period
 
$
801,369

 
$
121,572

 
$
24,270

 
$
71,212

 
$
19,796

 
$
1,038,219

 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of period
 
$
—

 
$
152,999

 
$
34,558

 
$
82,623

 
$
28,077

 
$
298,257

Accretion recognized in interest income
 
—

 
(17,291
)
 
(2,836
)
 
(8,029
)
 
(6,284
)
 
(34,440
)
Net reclassification (to) from nonaccretable difference(1)
 
—

 
(10,365
)
 
(863
)
 
(848
)
 
4,799

 
(7,277
)
Balance at end of period
 
$
—

 
$
125,343

 
$
30,859

 
$
73,746

 
$
26,592

 
$
256,540


(1) The net reclassification results from changes in expected cash flows of the acquired loans which may include increases in the amount of contractual principal and interest expected to be collected due to improvement in credit quality, increases in balances outstanding from advances, renewals, extensions and interest rates; as well as reductions in contractual principal and interest expected to be collected due to credit deterioration, payoffs, and decreases in interest rates.
Recorded investment of loans in the commercial loan portfolio by risk rating categories
The following schedule presents the recorded investment of loans in the commercial loan portfolio by credit risk categories at June 30, 2017 and December 31, 2016:
(Dollars in thousands)
 
Pass
 
Special Mention
 
Substandard
 
Doubtful
 
Total
June 30, 2017
 
 
 
 
 
 
 
 
 
 
Originated Portfolio:
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
2,101,781

 
$
31,051

 
$
47,871

 
$
3,580

 
$
2,184,283

Commercial real estate
 
2,341,493

 
29,840

 
33,390

 
1,049

 
2,405,772

Real estate construction and land development
 
349,339

 
—

 
56

 
—

 
349,395

Subtotal
 
4,792,613

 
60,891

 
81,317

 
4,629

 
4,939,450

Acquired Portfolio:
 
 
 
 
 
 
 
 
 
 
Commercial
 
1,100,238

 
30,686

 
44,951

 
3

 
1,175,878

Commercial real estate
 
1,777,461

 
62,807

 
78,118

 
165

 
1,918,551

Real estate construction and land development
 
93,301

 
1,941

 
2,041

 
—

 
97,283

Subtotal
 
2,971,000

 
95,434

 
125,110

 
168

 
3,191,712

Total
 
$
7,763,613

 
$
156,325

 
$
206,427

 
$
4,797

 
$
8,131,162

December 31, 2016
 
 
 
 
 
 
 
 
 
 
Originated Portfolio:
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
1,803,750

 
$
44,809

 
$
51,898

 
$
1,069

 
$
1,901,526

Commercial real estate
 
1,849,315

 
36,981

 
35,502

 
1

 
1,921,799

Real estate construction and land development
 
280,968

 
157

 
599

 
—

 
281,724

Subtotal
 
3,934,033

 
81,947

 
87,999

 
1,070

 
4,105,049

Acquired Portfolio:
 
 
 
 
 
 
 
 
 
 
Commercial
 
1,218,848

 
46,643

 
50,283

 
—

 
1,315,774

Commercial real estate
 
1,897,011

 
61,441

 
92,636

 
253

 
2,051,341

Real estate construction and land development
 
117,505

 
1,982

 
2,561

 
—

 
122,048

Subtotal
 
3,233,364

 
110,066

 
145,480

 
253

 
3,489,163

Total
 
$
7,167,397

 
$
192,013

 
$
233,479

 
$
1,323

 
$
7,594,212
Recorded investment of loans in the consumer loan portfolio based on the credit risk profile of loans in a performing and nonperforming status
The following schedule presents the recorded investment of loans in the consumer loan portfolio based on loans in a performing status and loans in a nonperforming status at June 30, 2017 and December 31, 2016:
(Dollars in thousands)
 
Residential Mortgage
 
Consumer
Installment
 
Home Equity
 
Total
Consumer
June 30, 2017
 
 
 
 
 
 
 
 
Originated Loans:
 
 
 
 
 
 
 
 
Performing
 
$
1,675,836

 
$
1,428,331

 
$
603,663

 
$
3,707,830

Nonperforming
 
7,714

 
757

 
3,871

 
12,342

Subtotal
 
1,683,550

 
1,429,088

 
607,534

 
3,720,172

Acquired Loans
 
1,441,847

 
124,879

 
249,312

 
1,816,038

Total
 
$
3,125,397

 
$
1,553,967

 
$
856,846

 
$
5,536,210

December 31, 2016
 
 
 
 
 
 
 
 
Originated Loans:
 
 
 
 
 
 
 
 
Performing
 
$
1,468,373

 
$
1,281,709

 
$
592,071

 
$
3,342,153

Nonperforming
 
6,969

 
879

 
3,351

 
11,199

Subtotal
 
1,475,342

 
1,282,588

 
595,422

 
3,353,352

Acquired Loans
 
1,611,132

 
151,296

 
280,787

 
2,043,215

Total
 
$
3,086,474

 
$
1,433,884

 
$
876,209

 
$
5,396,567
Summary of nonperforming loans
A summary of nonperforming loans follows:
(Dollars in thousands)
 
June 30,
2017
 
December 31,
2016
Nonperforming assets
 
 
 
 
Nonaccrual loans:
 
 
 
 
Commercial
 
$
18,773

 
$
13,178

Commercial real estate
 
19,723

 
19,877

Real estate construction and land development
 
56

 
80

Residential mortgage
 
7,714

 
6,969

Consumer installment
 
757

 
879

Home equity
 
3,871

 
3,351

Total nonaccrual loans
 
50,894

 
44,334

Other real estate owned and repossessed assets
 
14,582

 
17,187

Total nonperforming assets
 
$
65,476

 
$
61,521

Accruing loans contractually past due 90 days or more as to interest or principal payments, excluding acquired loans accounted for under ASC 310-30
 
 
 
 
Commercial
 
58

 
11

Commercial real estate
 
262

 
277

Home equity
 
2,026

 
995

Total accruing loans contractually past due 90 days or more as to interest or principal payments, excluding acquired loans accounted for under ASC 310-30
 
$
2,346

 
$
1,283
Schedule representing the aging status of the recorded investment in loans by classes
Loan delinquency, excluding acquired loans accounted for under ASC 310-30, was as follows:
(Dollars in thousands)
 
30-59
days
past due
 
60-89
days
past due
 
90 days or more past due
 
Total past due
 
Current
 
Total loans
 
90 days or more past due and still accruing
June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Originated Portfolio:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
6,578

 
$
5,408

 
$
7,604

 
$
19,590

 
$
2,164,693

 
$
2,184,283

 
$
58

Commercial real estate
 
21,106

 
7,518

 
5,221

 
33,845

 
2,371,927

 
2,405,772

 
262

Real estate construction and land development
 
—

 
—

 
—

 
—

 
349,395

 
349,395

 
—

Residential mortgage
 
411

 
2,607

 
1,418

 
4,436

 
1,679,114

 
1,683,550

 
—

Consumer installment
 
2,553

 
363

 
156

 
3,072

 
1,426,016

 
1,429,088

 
—

Home equity
 
3,798

 
1,095

 
2,775

 
7,668

 
599,866

 
607,534

 
2,026

Total
 
$
34,446

 
$
16,991

 
$
17,174

 
$
68,611

 
$
8,591,011

 
$
8,659,622

 
$
2,346

December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Originated Portfolio:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
10,421

 
$
4,842

 
$
3,641

 
$
18,904

 
$
1,882,622

 
$
1,901,526

 
$
11

Commercial real estate
 
6,551

 
1,589

 
5,165

 
13,305

 
1,908,494

 
1,921,799

 
277

Real estate construction and land development
 
2,721

 
499

 
—

 
3,220

 
278,504

 
281,724

 
—

Residential mortgage
 
3,147

 
62

 
1,752

 
4,961

 
1,470,381

 
1,475,342

 
—

Consumer installment
 
3,991

 
675

 
238

 
4,904

 
1,277,684

 
1,282,588

 
—

Home equity
 
3,097

 
893

 
2,349

 
6,339

 
589,083

 
595,422

 
995

Total
 
$
29,928

 
$
8,560

 
$
13,145

 
$
51,633

 
$
7,406,768

 
$
7,458,401

 
$
1,283
Schedule of Impaired loans by classes
The following schedules present impaired loans by classes of loans at June 30, 2017 and December 31, 2016:
(Dollars in thousands)
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Valuation
Allowance
June 30, 2017
 
 
 
 
 
 
Impaired loans with a valuation allowance:
 
 
 
 
 
 
Commercial
 
$
28,623

 
$
31,419

 
$
4,335

Commercial real estate
 
20,209

 
25,552

 
1,334

Real estate construction and land development
 
189

 
189

 
4

Residential mortgage
 
16,711

 
16,711

 
724

Consumer installment
 
851

 
851

 
88

Home equity
 
4,658

 
4,658

 
1,062

Subtotal
 
71,241

 
79,380

 
7,547

Impaired loans with no related valuation allowance:
 
 
 
 
 
 
Commercial
 
7,677

 
9,761

 
—

Commercial real estate
 
21,512

 
25,411

 
—

Real estate construction and land development
 
56

 
56

 
—

Residential mortgage
 
4,386

 
4,386

 
—

Home equity
 
1,258

 
1,258

 
—

Subtotal
 
34,889

 
40,872

 
—

Total impaired loans:
 
 
 
 
 
 
Commercial
 
36,300

 
41,180

 
4,335

Commercial real estate
 
41,721

 
50,963

 
1,334

Real estate construction and land development
 
245

 
245

 
4

Residential mortgage
 
21,097

 
21,097

 
724

Consumer installment
 
851

 
851

 
88

Home equity
 
5,916

 
5,916

 
1,062

Total
 
$
106,130

 
$
120,252

 
$
7,547

December 31, 2016
 
 
 
 
 
 
Impaired loans with a valuation allowance:
 
 
 
 
 
 
Commercial
 
$
28,925

 
$
33,209

 
$
3,128

Commercial real estate
 
21,318

 
27,558

 
2,102

Real estate construction and land development
 
177

 
177

 
4

Residential mortgage
 
20,864

 
20,864

 
3,528

Consumer installment
 
879

 
879

 
240

Home equity
 
2,577

 
2,577

 
390

Subtotal
 
74,740

 
85,264

 
9,392

Impaired loans with no related valuation allowance:
 
 
 
 
 
 
Commercial
 
7,435

 
11,153

 
—

Commercial real estate
 
20,588

 
23,535

 
—

Real estate construction and land development
 
80

 
80

 
—

Residential mortgage
 
3,252

 
3,252

 
—

Home equity
 
774

 
774

 
—

Subtotal
 
32,129

 
38,794

 
—

Total impaired loans:
 
 
 
 
 
 
Commercial
 
36,360

 
44,362

 
3,128

Commercial real estate
 
41,906

 
51,093

 
2,102

Real estate construction and land development
 
257

 
257

 
4

Residential mortgage
 
24,116

 
24,116

 
3,528

Consumer installment
 
879

 
879

 
240

Home equity
 
3,351

 
3,351

 
390

Total
 
$
106,869

 
$
124,058

 
$
9,392
Schedule presents information related to impaired loans
The following schedule presents additional information regarding impaired loans by classes of loans segregated by those requiring a valuation allowance and those not requiring a valuation allowance for the three and six months ended June 30, 2017 and 2016, and the respective interest income amounts recognized:
 
 
Three Months Ended June 30, 2017
 
Three Months Ended June 30, 2016
 
Six Months Ended June 30, 2017
 
Six Months Ended June 30, 2016
(Dollars in thousands)
 
Average
recorded
investment
 
Interest income
recognized
while on
impaired status
 
Average
recorded
investment
 
Interest income
recognized
while on
impaired status
 
Average
recorded
investment
 
Interest income
recognized
while on
impaired status
 
Average
recorded
investment
 
Interest income
recognized
while on
impaired status
Impaired loans with a valuation allowance:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
24,493

 
$
201

 
$
3,867

 
$
—

 
$
25,103

 
$
425

 
$
7,209

 
$
—

Commercial real estate
 
19,026

 
202

 
3,360

 
—

 
19,530

 
405

 
5,476

 
—

Real estate construction and land development
 
141

 
3

 
—

 
—

 
151

 
5

 
—

 
—

Residential mortgage
 
16,243

 
68

 
20,949

 
333

 
16,821

 
302

 
20,969

 
666

Consumer installment
 
682

 
1

 
—

 
—

 
731

 
2

 
—

 
—

Home equity
 
4,024

 
16

 
—

 
—

 
4,047

 
37

 
—

 
—

Subtotal
 
$
64,609

 
$
491

 
$
28,176

 
$
333

 
$
66,383

 
$
1,176

 
$
33,654

 
$
666

Impaired loans with no related valuation allowance:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
11,010

 
$
48

 
$
32,502

 
$
310

 
$
10,153

 
$
78

 
$
31,952

 
$
587

Commercial real estate
 
25,183

 
99

 
45,679

 
312

 
24,329

 
203

 
45,708

 
692

Real estate construction and land development
 
106

 
—

 
860

 
2

 
93

 
—

 
889

 
8

Residential mortgage
 
4,581

 
10

 
5,094

 
—

 
4,194

 
17

 
5,121

 
—

Consumer installment
 
142

 
—

 
281

 
—

 
179

 
—

 
311

 
—

Home equity
 
1,162

 
5

 
1,984

 
—

 
1,021

 
6

 
2,186

 
—

Subtotal
 
$
42,184


$
162


$
86,400


$
624


$
39,969

 
$
304

 
$
86,167

 
$
1,287

Total impaired loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
35,503

 
$
249

 
$
36,369

 
$
310

 
$
35,256

 
$
503

 
$
39,161

 
$
587

Commercial real estate
 
44,209

 
301

 
49,039

 
312

 
43,859

 
608

 
51,184

 
692

Real estate construction and land development
 
247

 
3

 
860

 
2

 
244

 
5

 
889

 
8

Residential mortgage
 
20,824

 
78

 
26,043

 
333

 
21,015

 
319

 
26,090

 
666

Consumer installment
 
824

 
1

 
281

 
—

 
910

 
2

 
311

 
—

Home equity
 
5,186

 
21

 
1,984

 
—

 
5,068

 
43

 
2,186

 
—

Total
 
$
106,793

 
$
653

 
$
114,576


$
957


$
106,352

 
$
1,480

 
$
119,821

 
$
1,953
Schedule providing information on TDRs
The following schedule presents the Corporation's TDRs at June 30, 2017 and December 31, 2016:
(Dollars in thousands)
 
Accruing TDRs
 
Nonaccrual TDRs
 
Total
June 30, 2017
 
 
 
 
 
 
Commercial loan portfolio
 
$
39,714

 
$
21,296

 
$
61,010

Consumer loan portfolio
 
15,522

 
4,409

 
19,931

Total
 
$
55,236

 
$
25,705

 
$
80,941

December 31, 2016
 
 
 
 
 
 
Commercial loan portfolio
 
$
45,388

 
$
25,397

 
$
70,785

Consumer loan portfolio
 
17,147

 
5,134

 
22,281

Total
 
$
62,535

 
$
30,531

 
$
93,066


The following tables present the recorded investment of loans modified into TDRs during the three and six months ended June 30, 2017 and 2016 by type of concession granted. In cases where more than one type of concession was granted, the loans were categorized based on the most significant concession.
 
 
Concession type
 
 
 
 
 
 
(Dollars in thousands)
 
Principal
deferral
 
Interest
rate
 
Forbearance
agreement
 
Total
number
of loans
 
Pre-modification recorded investment
 
Post-modification recorded investment
For the three months ended June 30, 2017
 
 
 
 
 
 
 
 
 
Commercial loan portfolio:
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
285

 
$
266

 
$
—

 
7

 
$
564

 
$
551

Commercial real estate
 
—

 
65

 
122

 
3

 
194

 
187

Subtotal
 
285

 
331

 
122

 
10

 
758

 
738

Consumer loan portfolio:
 
 
 
 
 
 
 
 
 
 
Residential mortgage
 
37

 
261

 
—

 
5

 
316

 
298

Consumer installment
 
22

 
—

 
—

 
4

 
24

 
22

Home equity
 
153

 
—

 
—

 
4

 
160

 
153

Subtotal
 
212

 
261

 
—

 
13

 
500

 
473

Total loans
 
$
497

 
$
592

 
$
122

 
23

 
$
1,258

 
$
1,211

For the six months ended June 30, 2017
 
 
 
 
 
 
 
 
 
Commercial loan portfolio:
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
335

 
$
1,367

 
$
579

 
12

 
$
2,303

 
$
2,281

Commercial real estate
 
447

 
140

 
122

 
6

 
716

 
709

Subtotal
 
782

 
1,507

 
701

 
18

 
3,019

 
2,990

Consumer loan portfolio:
 
 
 
 
 
 
 
 
 
 
Residential mortgage
 
135

 
261

 
—

 
6

 
414

 
396

Consumer installment
 
32

 
—

 
—

 
6

 
35

 
32

Home equity
 
264

 
—

 
—

 
5

 
325

 
264

Subtotal
 
431

 
261

 
—

 
17

 
774

 
692

Total loans
 
$
1,213

 
$
1,768

 
$
701

 
35

 
$
3,793

 
$
3,682

 
 
Concession type
 
 
 
 
 
 
(Dollars in thousands)
 
Principal
deferral
 
Interest
rate
 
Forbearance
agreement
 
Total
number
of loans
 
Pre-modification recorded investment
 
Post-modification recorded investment
For the three months ended June 30, 2016
 
 
 
 
 
 
 
 
 
Commercial loan portfolio:
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
2,399

 
$
—

 
$
1,750

 
21

 
$
4,149

 
$
4,149

Commercial real estate
 
1,454

 
—

 
—

 
2

 
1,454

 
1,454

Subtotal
 
3,853

 
—

 
1,750

 
23

 
5,603

 
5,603

Consumer loan portfolio:
 
 
 
 
 
 
 
 
 
 
Residential mortgage
 
174

 
—

 
—

 
2

 
174

 
174

Consumer installment
 
47

 
—

 
—

 
8

 
47

 
47

Home equity
 
98

 
171

 
—

 
4

 
269

 
269

Subtotal
 
319

 
171

 
—

 
14

 
490

 
490

Total loans
 
$
4,172

 
$
171

 
$
1,750

 
37

 
$
6,093

 
$
6,093

For the six months ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
Commercial loan portfolio:
 
 
 
 
 
 
 
 
 
 
Commercial
 
$
6,231

 
$
—

 
$
1,750

 
28

 
$
7,981

 
$
7,981

Commercial real estate
 
2,441

 
—

 
—

 
6

 
2,441

 
2,441

Subtotal
 
8,672

 
—

 
1,750

 
34

 
10,422

 
10,422

Consumer loan portfolio:
 
 
 
 
 
 
 
 
 
 
Residential mortgage
 
279

 
—

 
—

 
3

 
279

 
279

Consumer installment
 
80

 
—

 
—

 
12

 
80

 
80

Home equity
 
127

 
208

 
—

 
6

 
335

 
335

Subtotal
 
486

 
208

 
—

 
21

 
694

 
694

Total loans
 
$
9,158

 
$
208

 
$
1,750

 
55

 
$
11,116

 
$
11,116
Troubled debt restructurings on financing receivables with defaults payment
The following schedule includes TDRs for which there was a payment default during the three and six months ended June 30, 2017 and 2016, whereby the borrower was past due with respect to principal and/or interest for 90 days or more, and the loan became a TDR during the twelve-month period prior to the default:
 
 
For The Three Months Ended June 30, 2017
 
For The Six Months Ended June 30, 2017
(Dollars in thousands)
 
Number of loans
 
Principal balance
 
Number of loans
 
Principal balance
Commercial loan portfolio (commercial)
 
2

 
$
997

 
5

 
$
1,617

Consumer loan portfolio (residential mortgage)
 
3

 
58

 
5

 
163

Total
 
5

 
$
1,055

 
10

 
$
1,780

 
 
 
 
 
 
 
 
 
 
 
For The Three Months Ended June 30, 2016
 
For The Six Months Ended June 30, 2016
(Dollars in thousands)
 
Number of loans
 
Principal balance
 
Number of loans
 
Principal balance
Commercial loan portfolio (commercial real estate)
 
1

 
$
788

 
2

 
$
1,721

Consumer loan portfolio (residential mortgage)
 
1

 
—

 
2

 
—

Total
 
2

 
$
788

 
4

 
$
1,721
Schedule of allowance and recorded investment related to financing receivables segregated by portfolio segment
The following schedule presents, by loan portfolio segment, the changes in the allowance for the three and six months ended June 30, 2017 and 2016, and details regarding the balance in the allowance and the recorded investment in loans at June 30, 2017 by impairment evaluation method.
(Dollars in thousands)
 
Commercial
Loan
Portfolio
 
Consumer
Loan
Portfolio
 
Total
Changes in allowance for loan losses for the three months ended June 30, 2017:
Beginning balance
 
$
54,315

 
$
24,459

 
$
78,774

Provision for loan losses
 
4,084

 
2,145

 
6,229

Charge-offs
 
(726
)
 
(1,578
)
 
(2,304
)
Recoveries
 
282

 
816

 
1,098

Ending balance
 
$
57,955

 
$
25,842

 
$
83,797

Changes in allowance for loan losses for the six months ended June 30, 2017:
Beginning balance
 
$
51,201

 
$
27,067

 
$
78,268

Provision for loan losses
 
8,476

 
1,803

 
10,279

Charge-offs
 
(3,417
)
 
(4,461
)
 
(7,878
)
Recoveries
 
1,695

 
1,433

 
3,128

Ending balance
 
$
57,955

 
$
25,842

 
$
83,797

Changes in allowance for loan losses for the three months ended June 30, 2016:
Beginning balance
 
$
44,668

 
$
25,650

 
$
70,318

Provision for loan losses
 
900

 
2,100

 
3,000

Charge-offs
 
(2,542
)
 
(1,078
)
 
(3,620
)
Recoveries
 
1,202

 
606

 
1,808

Ending balance
 
$
44,228

 
$
27,278

 
$
71,506

Changes in allowance for loan losses for the six months ended June 30, 2016:
Beginning balance
 
$
47,234

 
$
26,094

 
$
73,328

Provision for loan losses
 
1,900

 
2,600

 
4,500

Charge-offs
 
(6,438
)
 
(2,640
)
 
(9,078
)
Recoveries
 
1,532

 
1,224

 
2,756

Ending balance
 
$
44,228

 
$
27,278

 
$
71,506

Allowance for loan losses balance at June 30, 2017 attributable to:
Loans individually evaluated for impairment
 
$
5,673

 
$
1,874

 
$
7,547

Loans collectively evaluated for impairment
 
52,282

 
23,968

 
76,250

Loans acquired with deteriorated credit quality
 
—

 
—

 
—

Total
 
$
57,955

 
$
25,842

 
$
83,797

Recorded investment (loan balance) at June 30, 2017:
Loans individually evaluated for impairment
 
$
78,266

 
$
27,864

 
$
106,130

Loans collectively evaluated for impairment
 
4,861,184

 
3,692,308

 
8,553,492

Loans acquired with deteriorated credit quality
 
3,191,712

 
1,816,038

 
5,007,750

Total
 
$
8,131,162

 
$
5,536,210

 
$
13,667,372


The following schedule presents, by loan portfolio segment, details regarding the balance in the allowance and the recorded investment in loans at December 31, 2016 by impairment evaluation method.
(Dollars in thousands)
 
Commercial
Loan
Portfolio
 
Consumer
Loan
Portfolio
 
Total
Allowance for loan losses balance at December 31, 2016 attributable to:
 
 
Loans individually evaluated for impairment
 
$
5,234

 
$
4,158

 
$
9,392

Loans collectively evaluated for impairment
 
45,967

 
22,909

 
68,876

Loans acquired with deteriorated credit quality
 
—

 
—

 
—

Total
 
$
51,201

 
$
27,067

 
$
78,268

Recorded investment (loan balance) at December 31, 2016:
 
 
Loans individually evaluated for impairment
 
$
78,523

 
$
28,346

 
$
106,869

Loans collectively evaluated for impairment
 
4,026,526

 
3,325,006

 
7,351,532

Loans acquired with deteriorated credit quality
 
3,489,163

 
2,043,215

 
5,532,378

Total
 
$
7,594,212

 
$
5,396,567

 
$
12,990,779