A summary of current, past due and nonaccrual loans as of March 31, 2019 and December 31, 2018 follows:

	Current		30-89 Days Past Due		Accruing Loans Past Due 90 Days or More (a)		Accruing Loans Acquired at a Discount Past Due 90 days or More (b)		Purchased Impaired (c)		Nonaccrual		Total
	(In thousands)
March 31, 2019
Commercial, financial, leasing, etc.	$	22,701,500		141,555		1,047		283		—		245,819	$	23,090,204
Real estate:
Commercial		25,441,419		159,209		7,394		158		10,305		207,709		25,826,194
Residential builder and developer		1,738,846		2,190		—		—		549		4,392		1,745,977
Other commercial construction		7,036,036		31,152		31,032		—		640		19,899		7,118,759
Residential		13,337,558		406,106		199,940		6,425		187,631		210,266		14,347,926
Residential — limited documentation		2,186,132		71,354		—		—		79,658		84,863		2,422,007
Consumer:
Home equity lines and loans		4,634,634		31,145		—		4,871		—		69,245		4,739,895
Recreational finance		4,295,732		22,549		—		235		—		10,972		4,329,488
Automobile		3,619,015		62,846		—		—		—		21,209		3,703,070
Other		1,257,839		14,420		4,844		32,023		—		7,237		1,316,363
Total	$	86,248,711		942,526		244,257		43,995		278,783		881,611	$	88,639,883

December 31, 2018
Commercial, financial, leasing, etc.	$	22,701,020		39,798		2,567		168		—		234,423	$	22,977,976
Real estate:
Commercial		25,250,983		134,474		11,457		10		9,769		203,672		25,610,365
Residential builder and developer		1,665,178		20,333		—		—		—		4,798		1,690,309
Other commercial construction		6,982,077		43,615		14,344		—		641		22,205		7,062,882
Residential		13,591,790		404,808		189,682		6,650		203,044		233,352		14,629,326
Residential — limited documentation		2,278,040		72,544		—		—		89,851		84,685		2,525,120
Consumer:
Home equity lines and loans		4,758,513		25,416		—		5,033		—		71,292		4,860,254
Recreational finance		4,085,781		29,947		—		235		—		11,199		4,127,162
Automobile		3,555,757		79,804		—		—		—		23,359		3,658,920
Other		1,271,811		15,598		4,477		27,654		—		4,623		1,324,163
Total	$	86,140,950		866,337		222,527		39,750		303,305		893,608	$	88,466,477

One-to-four family residential mortgage loans held for sale were $178 million and $205 million at March 31, 2019 and December 31, 2018, respectively. Commercial real estate loans held for sale were $166 million at March 31, 2019 and $347 million at December 31, 2018.

The outstanding principal balance and the carrying amount of loans acquired at a discount that were recorded at fair value at the acquisition date and included in the consolidated balance sheet were as follows:

Purchased impaired loans included in the table above totaled $279 million at March 31, 2019 and $303 million at December 31, 2018, representing less than 1% of the Company’s assets as of each date. A summary of changes in the accretable yield for loans acquired at a discount for the three months ended March 31, 2019 and 2018 follows:

Changes in the allowance for credit losses for the three months ended March 31, 2019 were as follows:

	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Unallocated			Total
	(In thousands)

Beginning balance	$	330,055			341,655			69,125			200,564			78,045		$	1,019,444
Provision for credit losses		6,271			(4,203	)		(2,447	)		22,883			(504	)		22,000
Net charge-offs
Charge-offs		(8,500	)		(283	)		(3,372	)		(32,945	)		—			(45,100	)
Recoveries		7,794			826			1,830			12,543			—			22,993
Net (charge-offs) recoveries		(706	)		543			(1,542	)		(20,402	)		—			(22,107	)
Ending balance	$	335,620			337,995			65,136			203,045			77,541		$	1,019,337

Changes in the allowance for credit losses for the three months ended March 31, 2018 were as follows:

	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Unallocated		Total
	(In thousands)

Beginning balance	$	328,599			374,085			65,405			170,809			78,300	$	1,017,198
Provision for credit losses		7,230			(5,225	)		10,486			29,814			695		43,000
Net charge-offs
Charge-offs		(14,581	)		(1,366	)		(4,354	)		(36,451	)		—		(56,752	)
Recoveries		4,823			223			1,510			9,669			—		16,225
Net (charge-offs) recoveries		(9,758	)		(1,143	)		(2,844	)		(26,782	)		—		(40,527	)
Ending balance	$	326,071			367,717			73,047			173,841			78,995	$	1,019,671

Despite the allocation in the preceding tables, the allowance for credit losses is general in nature and is available to absorb losses from any loan or lease type.

In establishing the allowance for credit losses, the Company estimates losses attributable to specific troubled credits identified through both normal and targeted credit review processes and also estimates losses inherent in other loans and leases on a collective basis. For purposes of determining the level of the allowance for credit losses, the Company evaluates its loan and lease portfolio by loan type. The amounts of loss components in the Company’s loan and lease portfolios are determined through a loan-by-loan analysis of larger balance commercial loans and commercial real estate loans that are in nonaccrual status and by applying loss factors to groups of loan balances based on loan type and management’s classification of such loans under the Company’s loan grading system. Measurement of the specific loss components is typically based on expected future cash flows, collateral values and other factors that may impact the borrower’s ability to pay. In determining the allowance for credit losses, the Company utilizes a loan grading system which is applied to commercial and commercial real estate credits on an individual loan basis. Loan grades are assigned loss component factors that reflect the Company’s loss estimate for each group of loans and leases. Factors considered in assigning loan grades and loss component factors include borrower-specific information related to expected future cash flows and operating results, collateral values, geographic location, financial condition and performance, payment status, and other information; levels of and trends in portfolio charge-offs and recoveries; levels of and trends in portfolio delinquencies and impaired loans; changes in the risk profile of specific portfolios; trends in volume and terms of loans; effects of changes in credit concentrations; and observed trends and practices in the banking industry.

Information with respect to loans and leases that were considered impaired as of March 31, 2019 and December 31, 2018 and for the three-month periods ended March 31, 2019 and 2018 follows.

	March 31, 2019						December 31, 2018
	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance		Related Allowance
	(In thousands)
With an allowance recorded:
Commercial, financial, leasing, etc.	$	201,337		220,116		50,192		153,478		175,549		46,034
Real estate:
Commercial		102,247		119,062		10,449		110,253		125,117		11,937
Residential builder and developer		6,805		7,399		327		5,981		6,557		462
Other commercial construction		10,696		13,624		703		10,563		11,113		640
Residential		121,351		142,872		5,291		124,974		147,817		5,402
Residential — limited documentation		71,113		86,276		3,000		74,156		90,066		3,000
Consumer:
Home equity lines and loans		47,363		52,583		9,025		47,982		53,248		9,135
Recreational finance		5,539		5,740		1,147		6,138		9,163		1,261
Automobile		3,522		3,603		729		3,527		3,599		729
Other		5,612		11,902		1,128		5,203		8,380		1,046
		575,585		663,177		81,991		542,255		630,609		79,646
With no related allowance recorded:
Commercial, financial, leasing, etc.		91,355		97,342		—		105,507		136,128		—
Real estate:
Commercial		125,289		138,095		—		113,376		124,657		—
Residential builder and developer		2,756		2,781		—		2,593		2,602		—
Other commercial construction		9,203		9,432		—		11,710		11,880		—
Residential		19,535		25,771		—		15,379		20,496		—
Residential — limited documentation		6,145		10,434		—		5,631		9,796		—
		254,283		283,855		—		254,196		305,559		—
Total:
Commercial, financial, leasing, etc.		292,692		317,458		50,192		258,985		311,677		46,034
Real estate:
Commercial		227,536		257,157		10,449		223,629		249,774		11,937
Residential builder and developer		9,561		10,180		327		8,574		9,159		462
Other commercial construction		19,899		23,056		703		22,273		22,993		640
Residential		140,886		168,643		5,291		140,353		168,313		5,402
Residential — limited documentation		77,258		96,710		3,000		79,787		99,862		3,000
Consumer:
Home equity lines and loans		47,363		52,583		9,025		47,982		53,248		9,135
Recreational finance		5,539		5,740		1,147		6,138		9,163		1,261
Automobile		3,522		3,603		729		3,527		3,599		729
Other		5,612		11,902		1,128		5,203		8,380		1,046
Total	$	829,868		947,032		81,991		796,451		936,168		79,646

	Three Months Ended March 31, 2019						Three Months Ended March 31, 2018
			Interest Income Recognized						Interest Income Recognized
	Average Recorded Investment		Total		Cash Basis		Average Recorded Investment		Total		Cash Basis
	(In thousands)

Commercial, financial, leasing, etc.	$	265,248		3,038		3,038		272,172		783		783
Real estate:
Commercial		225,374		1,091		1,091		181,846		3,147		3,147
Residential builder and developer		8,875		115		115		9,840		1,682		1,682
Other commercial construction		20,398		564		564		10,102		6		6
Residential		140,403		2,022		666		121,209		1,902		902
Residential — limited documentation		78,238		1,353		208		85,595		1,728		696
Consumer:
Home equity lines and loans		47,556		416		62		48,797		414		86
Recreational finance		6,023		142		4		1,458		63		2
Automobile		3,530		54		19		13,125		224		15
Other		5,218		122		4		1,661		22		1
Total	$	800,863		8,917		5,771		745,805		9,971		7,320

Commercial loans and commercial real estate loans with a lower expectation of default are assigned one of ten possible “pass” loan grades and are generally ascribed lower loss factors when determining the allowance for credit losses. Loans with an elevated level of credit risk are classified as “criticized” and are ascribed a higher loss factor when determining the allowance for credit losses. Criticized loans may be classified as “nonaccrual” if the Company no longer expects to collect all amounts according to the contractual terms of the loan agreement or the loan is delinquent 90 days or more. Furthermore, criticized nonaccrual commercial loans and commercial real estate loans are considered impaired and, as a result, specific loss allowances on such loans are established within the allowance for credit losses to the extent appropriate in each individual instance.

The following table summarizes the loan grades applied to the various classes of the Company’s commercial loans and commercial real estate loans.

			Real Estate
	Commercial,				Residential		Other
	Financial,				Builder and		Commercial
	Leasing, etc.		Commercial		Developer		Construction
	(In thousands)
March 31, 2019
Pass	$	21,734,455		24,686,100		1,535,068		6,870,882
Criticized accrual		1,109,930		932,385		206,517		227,978
Criticized nonaccrual		245,819		207,709		4,392		19,899
Total	$	23,090,204		25,826,194		1,745,977		7,118,759
December 31, 2018
Pass	$	21,693,705		24,539,706		1,546,002		6,890,562
Criticized accrual		1,049,848		866,987		139,509		150,115
Criticized nonaccrual		234,423		203,672		4,798		22,205
Total	$	22,977,976		25,610,365		1,690,309		7,062,882

In determining the allowance for credit losses, residential real estate loans and consumer loans are generally evaluated collectively after considering such factors as payment performance and recent loss experience and trends, which are mainly driven by current collateral values in the market place as well as the amount of loan defaults. Loss rates on such loans are determined by reference to recent charge-off history and are evaluated (and adjusted if deemed appropriate) through consideration of other factors including near-term forecasted loss estimates developed by the Company’s credit department. In arriving at such forecasts, the Company considers the current estimated fair value of its collateral based on geographical adjustments for home price depreciation/appreciation and overall borrower repayment performance. With regard to collateral values, the realizability of such values by the Company contemplates repayment of any first lien position prior to recovering amounts on a second lien position. However, residential real estate loans and outstanding balances of home equity loans and lines of credit that are more than 150 days past due are generally evaluated for collectibility on a loan-by-loan basis giving consideration to estimated collateral values. The carrying value of residential real estate loans and home equity loans and lines of credit for which a partial charge-off has been recognized totaled $29 million and $22 million, respectively, at March 31, 2019 and $29 million and $23 million, respectively, at December 31, 2018. Residential real estate loans and home equity loans and lines of credit that were more than 150 days past due but did not require a partial charge-off because the net realizable value of the collateral exceeded the outstanding customer balance were $19 million and $33 million, respectively, at March 31, 2019 and $21 million and $31 million, respectively, at December 31, 2018.

The Company also measures additional losses for purchased impaired loans when it is probable that the Company will be unable to collect all cash flows expected at acquisition plus additional cash flows expected to be collected arising from changes in estimates after acquisition. The determination of the allocated portion of the allowance for credit losses is very subjective. Given that inherent subjectivity and potential imprecision involved in determining the allocated portion of the allowance for credit losses, the Company also provides an inherent unallocated portion of the allowance. The unallocated portion of the allowance is intended to recognize probable losses that are not otherwise identifiable and includes management’s subjective determination of amounts necessary to provide for the possible use of imprecise estimates in determining the allocated portion of the allowance. Therefore, the level of the unallocated portion of the allowance is primarily reflective of the inherent imprecision in the various calculations used in determining the allocated portion of the allowance for credit losses. Other factors that could also lead to changes in the unallocated portion include the effects of expansion into new markets for which the Company does not have the same degree of familiarity and experience regarding portfolio performance in changing market conditions, the introduction of new loan and lease product types, and other risks associated with the Company’s loan portfolio that may not be specifically identifiable.

The allocation of the allowance for credit losses summarized on the basis of the Company’s impairment methodology was as follows:

	Commercial, Financial,		Real Estate
	Leasing, etc.		Commercial		Residential		Consumer		Total
	(In thousands)
March 31, 2019
Individually evaluated for impairment	$	50,192		11,479		8,291		12,029	$	81,991
Collectively evaluated for impairment		285,428		326,516		47,028		191,016		849,988
Purchased impaired		—		—		9,817		—		9,817
Allocated	$	335,620		337,995		65,136		203,045		941,796
Unallocated										77,541
Total									$	1,019,337
December 31, 2018
Individually evaluated for impairment	$	46,034		13,039		8,402		12,171	$	79,646
Collectively evaluated for impairment		284,021		328,616		48,326		188,393		849,356
Purchased impaired		—		—		12,397		—		12,397
Allocated	$	330,055		341,655		69,125		200,564		941,399
Unallocated										78,045
Total									$	1,019,444

The recorded investment in loans and leases summarized on the basis of the Company’s impairment methodology was as follows:

	Commercial, Financial,		Real Estate
	Leasing, etc.		Commercial		Residential		Consumer		Total
	(In thousands)
March 31, 2019
Individually evaluated for impairment	$	292,692		256,996		218,144		62,036	$	829,868
Collectively evaluated for impairment		22,797,512		34,422,440		16,284,500		14,026,780		87,531,232
Purchased impaired		—		11,494		267,289		—		278,783
Total	$	23,090,204		34,690,930		16,769,933		14,088,816	$	88,639,883
December 31, 2018
Individually evaluated for impairment	$	258,985		254,476		220,140		62,850	$	796,451
Collectively evaluated for impairment		22,718,991		34,098,670		16,641,411		13,907,649		87,366,721
Purchased impaired		—		10,410		292,895		—		303,305
Total	$	22,977,976		34,363,556		17,154,446		13,970,499	$	88,466,477

During the normal course of business, the Company modifies loans to maximize recovery efforts. If the borrower is experiencing financial difficulty and a concession is granted, the Company considers such modifications as troubled debt restructurings and classifies those loans as either nonaccrual loans or renegotiated loans. The types of concessions that the Company grants typically include principal deferrals and interest rate concessions, but may also include other types of concessions.

The table that follows summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the three-month periods ended March 31, 2019 and 2018:

					Post-modification (a)
	Number		Pre- modification Recorded Investment		Principal Deferral		Interest Rate Reduction		Combination of Concession Types		Total
Three Months Ended March 31, 2019	(Dollars in thousands)

Commercial, financial, leasing, etc.	65		$	30,615	$	6,474	$	—	$	24,270	$	30,744
Real estate:
Commercial		15		9,241		987		—		7,967		8,954
Residential builder and developer		2		1,330		1,068		—		—		1,068
Other commercial construction		1		418		—		—		366		366
Residential		17		3,816		1,751		—		2,273		4,024
Residential — limited documentation		1		236		239		—		—		239
Consumer:
Home equity lines and loans		7		476		37		—		454		491
Recreational finance		4		88		88		—		—		88
Automobile		20		317		280		—		37		317
Total		132	$	46,537	$	10,924	$	—	$	35,367	$	46,291

Three Months Ended March 31, 2018

Commercial, financial, leasing, etc.		56	$	47,994	$	35,673	$	624	$	13,047	$	49,344
Real estate:
Commercial		20		6,780		5,824		—		927		6,751
Other commercial construction		1		752		746		—		—		746
Residential		47		12,636		6,945		—		6,902		13,847
Residential — limited documentation		2		295		267		—		118		385
Consumer:
Home equity lines and loans		14		1,348		4		—		1,348		1,352
Recreational finance		2		49		49		—		—		49
Automobile		8		148		148		—		—		148
Total		150	$	70,002	$	49,656	$	624	$	22,342	$	72,622

Troubled debt restructurings are considered to be impaired loans and for purposes of establishing the allowance for credit losses are evaluated for impairment giving consideration to the impact of the modified loan terms on the present value of the loan’s expected cash flows. Impairment of troubled debt restructurings that have subsequently defaulted may also be measured based on the loan’s observable market price or the fair value of collateral if the loan is collateral-dependent. Charge-offs may also be recognized on troubled debt restructurings that have subsequently defaulted. Loans that were modified as troubled debt restructurings during the twelve months ended March 31, 2019 and 2018 and for which there was a subsequent payment default during the three-month periods ended March 31, 2019 and 2018, respectively, were not material.

The amount of foreclosed residential real estate property held by the Company was $81 million and $77 million at March 31, 2019 and December 31, 2018, respectively. There were $382 million and $391 million at March 31, 2019 and December 31, 2018, respectively, in loans secured by residential real estate that were in the process of foreclosure. Of all loans in the process of foreclosure at March 31, 2019, approximately 38% were classified as purchased impaired and 21% were government guaranteed.

The Company’s loan and lease portfolio includes commercial lease financing receivables consisting of direct financing and leveraged leases for machinery and equipment, railroad equipment, commercial trucks and trailers, and aircraft. Certain leases contain payment schedules that are tied to variable interest rate indices. In general, early termination options are provided if the lessee is not in default, returns the leased equipment and pays an early termination fee. Additionally, options to purchase the underlying asset by the lessee are generally at the fair market value of the equipment. Effective January 1, 2019, the Company adopted new guidance related to lease accounting published by the Financial Accounting Standards Board (“FASB”). Under the new guidance, the accounting applied by lessors is largely unchanged from previous GAAP, however, the guidance eliminates the accounting model for leveraged leases that commence after the effective date of the guidance. A summary of lease financing receivables follows:

Included within the estimated residual value of leased assets at March 31, 2019 and December 31, 2018 were $35 million and $39 million, respectively, in residual value associated with direct financing leases that are guaranteed by the lessees or others.

At March 31, 2019, the minimum future lease payments to be received from lease financings were as follows: