5. LOANS AND LEASES

Following is a summary of loans and leases, net of unearned income:

(in thousands)

Originated
Loans

Acquired
Loans

Total
Loans and
Leases

June 30, 2016

Commercial real estate

3,789,036

1,566,589

5,355,625

Commercial and industrial

2,643,116

436,489

3,079,605

Commercial leases

200,350

—

200,350

Total commercial loans and leases

6,632,502

2,003,078

8,635,580

Direct installment

1,733,606

96,600

1,830,206

Residential mortgages

1,217,574

461,072

1,678,646

Indirect installment

1,076,516

301

1,076,817

Consumer lines of credit

1,058,128

231,925

1,290,053

Other

51,826

—

51,826

Total loans and leases, net of unearned income

11,770,152

2,792,976

14,563,128


(in thousands)	Originated Loans		Acquired Loans		Total Loans and Leases
December 31, 2015
Commercial real estate	$	3,531,146	$	577,910	$	4,109,056
Commercial and industrial		2,534,351		67,371		2,601,722
Commercial leases		204,553		—		204,553

Total commercial loans and leases		6,270,050		645,281		6,915,331
Direct installment		1,660,717		45,919		1,706,636
Residential mortgages		1,044,689		351,282		1,395,971
Indirect installment		996,175		554		996,729
Consumer lines of credit		1,021,830		115,425		1,137,255
Other		38,518		—		38,518

Total loans and leases, net of unearned income	$	11,031,979	$	1,158,461	$	12,190,440

Commercial real estate includes both owner-occupied and non-owner-occupied loans secured by commercial properties. Commercial and industrial includes loans to businesses that are not secured by real estate. Commercial leases are made for new or used equipment. Direct installment is comprised of fixed-rate, closed-end consumer loans for personal, family or household use, such as home equity loans and automobile loans. Residential mortgages consist of conventional and jumbo mortgage loans for non-commercial properties. Indirect installment is comprised of loans originated by third parties and underwritten by the Corporation, primarily automobile loans. Consumer lines of credit include home equity lines of credit (HELOC) and consumer lines of credit that are either unsecured or secured by collateral other than home equity. Other is comprised primarily of credit cards, mezzanine loans and student loans.

The loan and lease portfolio consists principally of loans to individuals and small- and medium-sized businesses within the Corporation’s primary market area of Pennsylvania, eastern Ohio, Maryland and northern West Virginia. The total loan portfolio also contains consumer finance loans to individuals in Pennsylvania, Ohio, Tennessee and Kentucky, which totaled $187.8 million or 1.3% of total loans and leases at June 30, 2016, compared to $186.2 million or 1.5% of total loans and leases at December 31, 2015. Due to the relative size of the consumer finance loan portfolio, these loans are not segregated from other consumer loans.

The following table shows certain information relating to commercial loans:


	June 30,			December 31,
(dollars in thousands)	2016			2015
Commercial construction loans	$	432,429		$	352,322
Percent of total loans and leases		3.0	%		2.9	%

Commercial real estate:
Percent owner-occupied		37.0	%		38.1	%
Percent non-owner-occupied		63.0	%		61.9	%

Acquired Loans

All acquired loans were initially recorded at fair value at the acquisition date. The outstanding balance and the carrying amount of acquired loans included in the consolidated balance sheet are as follows:


(in thousands)	June 30, 2016		December 31, 2015
Accounted for under ASC 310-30:
Outstanding balance	$	2,730,575	$	1,258,418
Carrying amount		2,419,551		1,011,139

Accounted for under ASC 310-20:
Outstanding balance		398,107		146,161
Carrying amount		367,775		140,595

Total acquired loans:
Outstanding balance		3,128,682		1,404,579
Carrying amount		2,787,326		1,151,734

The carrying amount of purchased credit impaired loans included in the table above totaled $7.1 million at June 30, 2016 and $5.9 million at December 31, 2015, representing less than 1% of the carrying amount of total acquired loans as of each date.

The following table provides changes in accretable yield for all acquired loans accounted for under ASC 310-30. Loans accounted for under ASC 310-20 are not included in this table.


	Six Months Ended
	June 30,
(in thousands)	2016			2015
Balance at beginning of period	$	256,120		$	331,899
Acquisitions		308,311			—
Reduction due to unexpected early payoffs		(35,879	)		(25,735	)
Reclass from non-accretable difference		14,508			15,653
Disposals/transfers		(208	)		(348	)
Accretion		(49,646	)		(31,656	)

Balance at end of period	$	493,206		$	289,813

The following table reflects amounts at acquisition for all purchased loans subject to ASC 310-30 (impaired and non-impaired) acquired from METR and Fifth Third.

(in thousands)

Acquired
Impaired
Loans

Acquired
Performing
Loans

Total

Contractually required cash flows at acquisition

99,611

2,191,476

2,291,087

Non-accretable difference (expected losses and foregone interest)

(52,995

)

(264,233

)

(317,228

)

Cash flows expected to be collected at acquisition

46,616

1,927,243

1,973,859

Accretable yield

(1,063

)

(307,248

)

(308,311

)

Basis in acquired loans at acquisition

45,553

1,619,995

1,665,548

In addition, loans purchased in the METR acquisition and Fifth Third branch purchase that were not subject to ASC 310-30 had the following balances at the date of acquisition: fair value of $292.3 million; unpaid principal balance of $315.1 million; and contractual cash flows not expected to be collected of $103.0 million.

Credit Quality

Management monitors the credit quality of the Corporation’s loan and lease portfolio on an ongoing basis. Measurement of delinquency and past due status is based on the contractual terms of each loan.

Non-performing loans include non-accrual loans and non-performing troubled debt restructurings (TDRs). Past due loans are reviewed on a monthly basis to identify loans for non-accrual status. The Corporation places a loan on non-accrual status and discontinues interest accruals on originated loans generally when principal or interest is due and has remained unpaid for a certain number of days or when the principal and interest is deemed uncollectible, unless the loan is both well secured and in the process of collection. Commercial loans are placed on non-accrual at 90 days, installment loans are placed on non-accrual at 120 days and residential mortgages and consumer lines of credit are generally placed on non-accrual at 180 days. When a loan is placed on non-accrual status, all unpaid interest is reversed. Non-accrual loans may not be restored to accrual status until all delinquent principal and interest have been paid and the ultimate ability to collect the remaining principal and interest is reasonably assured. TDRs are loans in which the borrower has been granted a concession on the interest rate or the original repayment terms due to financial distress.

Following is a summary of non-performing assets:


(dollars in thousands)	June 30, 2016			December 31, 2015
Non-accrual loans	$	67,475		$	49,897
Troubled debt restructurings		22,542			22,028

Total non-performing loans		90,017			71,925
Other real estate owned (OREO)		48,344			38,918

Total non-performing assets	$	138,361		$	110,843

Asset quality ratios:
Non-performing loans / total loans and leases		0.62	%		0.59	%
Non-performing loans + OREO / total loans and leases + OREO		0.95	%		0.91	%
Non-performing assets / of total assets		0.65	%		0.63	%

The carrying value of residential OREO held as a result of obtaining physical possession upon completion of a foreclosure or through completion of a deed in lieu of foreclosure totaled $4.7 million at June 30, 2016 and $5.2 million at December 31, 2015. The recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process at June 30, 2016 and December 31, 2015 totaled $9.7 million and $11.7 million, respectively.

The following tables provide an analysis of the aging of the Corporation’s past due loans by class, segregated by loans and leases originated and loans acquired:


(in thousands)	30-89 Days Past Due		³ 90 Days Past Due and Still Accruing		Non- Accrual		Total Past Due		Current		Total Loans and Leases
Originated Loans and Leases
June 30, 2016
Commercial real estate	$	9,219	$	1	$	23,797	$	33,017	$	3,756,019	$	3,789,036
Commercial and industrial		9,411		3		27,568		36,982		2,606,134		2,643,116
Commercial leases		1,099		—		1,142		2,241		198,109		200,350

Total commercial loans and leases		19,729		4		52,507		72,240		6,560,262		6,632,502
Direct installment		9,479		3,690		5,743		18,912		1,714,694		1,733,606
Residential mortgages		11,249		1,662		3,072		15,983		1,201,591		1,217,574
Indirect installment		6,067		270		1,613		7,950		1,068,566		1,076,516
Consumer lines of credit		2,141		532		2,063		4,736		1,053,392		1,058,128
Other		41		28		—		69		51,757		51,826

Total originated loans and leases	$	48,706	$	6,186	$	64,998	$	119,890	$	11,650,262	$	11,770,152

December 31, 2015
Commercial real estate	$	11,006	$	1	$	23,503	$	34,510	$	3,496,636	$	3,531,146
Commercial and industrial		5,409		3		14,382		19,794		2,514,557		2,534,351
Commercial leases		924		—		659		1,583		202,970		204,553

Total commercial loans and leases		17,339		4		38,544		55,887		6,214,163		6,270,050
Direct installment		9,254		3,813		4,806		17,873		1,642,844		1,660,717
Residential mortgages		8,135		1,470		2,882		12,487		1,032,202		1,044,689
Indirect installment		9,472		379		1,361		11,212		984,963		996,175
Consumer lines of credit		2,410		1,189		1,181		4,780		1,017,050		1,021,830
Other		73		169		—		242		38,276		38,518

Total originated loans and leases	$	46,683	$	7,024	$	48,774	$	102,481	$	10,929,498	$	11,031,979


(in thousands)	30-89 Days Past Due		³ 90 Days Past Due and Still Accruing		Non- Accrual		Total Past Due (1) (2)		Current		Discount			Total Loans
Acquired Loans
June 30, 2016
Commercial real estate	$	24,253	$	26,315	$	893	$	51,461	$	1,602,228	$	(87,100	)	$	1,566,589
Commercial and industrial		2,758		4,821		1,163		8,742		461,688		(33,941	)		436,489

Total commercial loans		27,011		31,136		2,056		60,203		2,063,916		(121,041	)		2,003,078
Direct installment		2,602		1,124		—		3,726		90,263		2,611			96,600
Residential mortgages		11,990		13,963		—		25,953		474,442		(39,323	)		461,072
Indirect installment		11		4		—		15		255		31			301
Consumer lines of credit		1,325		858		421		2,604		234,158		(4,837	)		231,925

Total acquired loans	$	42,939	$	47,085	$	2,477	$	92,501	$	2,863,034	$	(162,559	)	$	2,792,976

December 31, 2015
Commercial real estate	$	6,399	$	12,752	$	931	$	20,082	$	593,128	$	(35,300	)	$	577,910
Commercial and industrial		1,065		616		103		1,784		72,037		(6,450	)		67,371

Total commercial loans		7,464		13,368		1,034		21,866		665,165		(41,750	)		645,281
Direct installment		837		659		—		1,496		43,596		827			45,919
Residential mortgages		5,871		15,136		—		21,007		366,742		(36,467	)		351,282
Indirect installment		32		9		—		41		571		(58	)		554
Consumer lines of credit		830		546		89		1,465		117,443		(3,483	)		115,425

Total acquired loans	$	15,034	$	29,718	$	1,123	$	45,875	$	1,193,517	$	(80,931	)	$	1,158,461

(1)	Past due information for acquired loans is based on the contractual balance outstanding at June 30, 2016 and December 31, 2015.

(2)

Acquired loans are considered performing upon acquisition, regardless of whether the customer is contractually delinquent, as long as the Corporation can reasonably estimate the timing and amount of expected cash flows on such loans. In these instances, the Corporation does not consider acquired contractually delinquent loans to be non-accrual or non-performing and continues to recognize interest income on these loans using the accretion method. Acquired loans are considered non-accrual or non-performing when, due to credit deterioration or other factors, the Corporation determines it is no longer able to reasonably estimate the timing and amount of expected cash flows on such loans. The Corporation does not recognize interest income on acquired loans considered non-accrual or non-performing.

The Corporation utilizes the following categories to monitor credit quality within its commercial loan and lease portfolio:


Rating Category		Definition
Pass		in general, the condition and performance of the borrower is satisfactory or better

Special Mention		in general, the condition of the borrower has deteriorated, requiring an increased level of monitoring

Substandard		in general, the condition and performance of the borrower has significantly deteriorated and could further deteriorate if deficiencies are not corrected

Doubtful		in general, the condition of the borrower has significantly deteriorated and the collection in full of both principal and interest is highly questionable or improbable

The use of these internally assigned credit quality categories within the commercial loan and lease portfolio permits management’s use of transition matrices to estimate a quantitative portion of credit risk. The Corporation’s internal credit risk grading system is based on past experiences with similarly graded loans and leases and conforms with regulatory categories. In general, loan and lease risk ratings within each category are reviewed on an ongoing basis according to the Corporation’s policy for each class of loans and leases. Each quarter, management analyzes the resulting ratings, as well as other external statistics and factors such as delinquency, to track the migration performance of the commercial loan and lease portfolio. Loans and leases within the Pass credit category or that migrate toward the Pass credit category generally have a lower risk of loss compared to loans and leases that migrate toward the Substandard or Doubtful credit categories. Accordingly, management applies higher risk factors to Substandard and Doubtful credit categories.

The following tables present a summary of the Corporation’s commercial loans and leases by credit quality category, segregated by loans and leases originated and loans acquired:


	Originated Commercial Loan and Lease Credit Quality Categories
(in thousands)	Pass		Special Mention		Substandard		Doubtful		Total
Originated Loans and Leases
June 30, 2016
Commercial real estate	$	3,612,375	$	106,555	$	69,872	$	234	$	3,789,036
Commercial and industrial		2,387,112		89,891		159,497		6,616		2,643,116
Commercial leases		194,408		2,107		3,835		—		200,350

Total originated commercial loans and leases	$	6,193,895	$	198,553	$	233,204	$	6,850	$	6,632,502

December 31, 2015
Commercial real estate	$	3,416,527	$	52,887	$	61,411	$	321	$	3,531,146
Commercial and industrial		2,335,103		109,539		87,380		2,329		2,534,351
Commercial leases		198,207		2,447		3,899		—		204,553

Total originated commercial loans and leases	$	5,949,837	$	164,873	$	152,690	$	2,650	$	6,270,050

Acquired Loans
June 30, 2016
Commercial real estate	$	1,301,203	$	131,051	$	132,639	$	1,696	$	1,566,589
Commercial and industrial		371,294		21,805		42,874		516		436,489

Total acquired commercial loans	$	1,672,497	$	152,856	$	175,513	$	2,212	$	2,003,078

December 31, 2015
Commercial real estate	$	464,162	$	47,619	$	66,129		—	$	577,910
Commercial and industrial		56,446		3,182		7,743		—		67,371

Total acquired commercial loans	$	520,608	$	50,801	$	73,872		—	$	645,281

Credit quality information for acquired loans is based on the contractual balance outstanding at June 30, 2016 and December 31, 2015. The increase in acquired loans in 2016 relates to the METR acquisition completed on February 13, 2016.

The Corporation uses delinquency transition matrices within the consumer and other loan classes to enable management to estimate a quantitative portion of credit risk. Each month, management analyzes payment and volume activity, FICO scores and other external factors such as unemployment, to determine how consumer loans are performing.

Following is a table showing originated consumer loans by payment status:


	Originated Consumer Loan Credit Quality by Payment Status
(in thousands)	Performing		Non- Performing		Total
June 30, 2016
Direct installment	$	1,718,741	$	14,865	$	1,733,606
Residential mortgages		1,204,189		13,385		1,217,574
Indirect installment		1,074,744		1,772		1,076,516
Consumer lines of credit		1,055,118		3,010		1,058,128
Other		51,826		—		51,826

Total originated consumer loans	$	5,104,618	$	33,032	$	5,137,650

December 31, 2015
Direct installment	$	1,646,925	$	13,792	$	1,660,717
Residential mortgages		1,031,926		12,763		1,044,689
Indirect installment		994,661		1,514		996,175
Consumer lines of credit		1,019,783		2,047		1,021,830
Other		38,518		—		38,518

Total originated consumer loans	$	4,731,813	$	30,116	$	4,761,929

Loans and leases are designated as impaired when, in the opinion of management, based on current information and events, the collection of principal and interest in accordance with the loan and lease contract is doubtful. Typically, the Corporation does not consider loans and leases for impairment unless a sustained period of delinquency (i.e., 90-plus days) is noted or there are subsequent events that impact repayment probability (i.e., negative financial trends, bankruptcy filings, imminent foreclosure proceedings, etc.). Impairment is evaluated in the aggregate for consumer installment loans, residential mortgages, consumer lines of credit and commercial loan and lease relationships less than $500,000 based on loan and lease segment loss given default. For commercial loan relationships greater than or equal to $500,000, a specific valuation allowance is allocated, if necessary, so that the loan is reported net, at the present value of estimated future cash flows using a market interest rate or at the fair value of collateral if repayment is expected solely from the collateral. Consistent with the Corporation’s existing method of income recognition for loans and leases, interest on impaired loans, except those classified as non-accrual, is recognized as income using the accrual method. Impaired loans, or portions thereof, are charged off when deemed uncollectible.

Following is a summary of information pertaining to originated loans and leases considered to be impaired, by class of loan and lease:


(in thousands)	Unpaid Contractual Principal Balance		Recorded Investment With No Specific Reserve		Recorded Investment With Specific Reserve		Total Recorded Investment		Specific Reserve		Average Recorded Investment
At or for the Six Months Ended June 30, 2016
Commercial real estate	$	32,295	$	22,983	$	2,101	$	25,084	$	234	$	25,319
Commercial and industrial		29,126		12,826		14,699		27,525		6,616		26,023
Commercial leases		1,142		1,142		—		1,142		—		—

Total commercial loans and leases		62,563		36,951		16,800		53,751		6,850		51,342
Direct installment		16,125		14,865		—		14,865		—		14,481
Residential mortgages		13,942		13,385		—		13,385		—		13,093
Indirect installment		4,266		1,772		—		1,772		—		1,636
Consumer lines of credit		3,776		3,010		—		3,010		—		2,947

Total	$	100,672	$	69,983	$	16,800	$	86,783	$	6,850	$	83,499

At or for the Year Ended December 31, 2015
Commercial real estate	$	33,780	$	24,423	$	772	$	25,195	$	321	$	26,143
Commercial and industrial		15,860		9,176		5,543		14,719		2,329		12,298
Commercial leases		659		659		—		659		—		747

Total commercial loans and leases		50,299		34,258		6,315		40,573		2,650		39,188
Direct installment		14,679		13,792		—		13,792		—		13,267
Residential mortgages		13,394		12,763		—		12,763		—		12,896
Indirect installment		3,745		1,514		—		1,514		—		1,401
Consumer lines of credit		2,408		2,047		—		2,047		—		2,198

Total	$	84,525	$	64,374	$	6,315	$	70,689	$	2,650	$	68,950

Interest income is generally no longer recognized once a loan becomes impaired.

The above tables do not reflect the additional allowance for credit losses relating to acquired loans in the following pools and categories:


(in thousands)	June 30, 2016		December 31, 2015
Commercial real estate	$	2,775	$	3,073
Commercial and industrial		600		695

Total commercial loans		3,375		3,768
Direct installment		1,183		1,557
Residential mortgages		582		659
Indirect installment		221		221
Consumer lines of credit		289		522

Total	$	5,650	$	6,727

Troubled Debt Restructurings

TDRs are loans whose contractual terms have been modified in a manner that grants a concession to a borrower experiencing financial difficulties. TDRs typically result from loss mitigation activities and could include the extension of a maturity date, interest rate reduction, principal forgiveness, deferral or decrease in payments for a period of time and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of collateral.

Following is a summary of the payment status of originated TDRs:


(in thousands)	June 30, 2016		December 31, 2015
Accruing:
Performing	$	16,762	$	15,165
Non-performing		22,542		22,028
Non-accrual		7,479		8,307

Total TDRs	$	46,783	$	45,500

TDRs that are accruing and performing include loans that met the criteria for non-accrual of interest prior to restructuring for which the Corporation can reasonably estimate the timing and amount of the expected cash flows on such loans and for which the Corporation expects to fully collect the new carrying value of the loans. During the six months ended June 30, 2016, the Corporation returned to performing status $3,968 million in restructured residential mortgage loans that have consistently met their modified obligations for more than six months. TDRs that are accruing and non-performing are comprised of consumer loans that have not demonstrated a consistent repayment pattern on the modified terms for more than six months, however it is expected that the Corporation will collect all future principal and interest payments. TDRs that are on non-accrual are not placed on accruing status until all delinquent principal and interest have been paid and the ultimate collectability of the remaining principal and interest is reasonably assured. Some loan modifications classified as TDRs may not ultimately result in the full collection of principal and interest, as modified, and may result in potential incremental losses which are factored into the allowance for credit losses.

Excluding purchased impaired loans, commercial loans over $500,000 whose terms have been modified in a TDR are generally placed on non-accrual, individually analyzed and measured for estimated impairment based on the fair value of the underlying collateral. The Corporation’s allowance for credit losses included specific reserves for commercial TDRs and pooled reserves for individual loans under $500,000 based on loan segment loss given default. Upon default, the amount of the recorded investment in the TDR in excess of the fair value of the collateral, less estimated selling costs, is generally considered a confirmed loss and is charged-off against the allowance for credit losses. The reserve for commercial TDRs included in the allowance for credit losses are as follows:


(in thousands)	June 30, 2016		December 31, 2015
Specific reserves	$	—	$	300
Pooled reserves for individual loans under $500		752		929

All other classes of loans, which are primarily secured by residential properties, whose terms have been modified in a TDR are pooled and measured for estimated impairment based on the expected net present value of the estimated future cash flows of the pool. The Corporation’s allowance for credit losses included pooled reserves for these classes of loans of $3.3 million and $3.5 million at June 30, 2016 and December 31, 2015, respectively. Upon default of an individual loan, the Corporation’s charge-off policy is followed accordingly for that class of loan.

The majority of TDRs are the result of interest rate concessions for a limited period of time. Following is a summary of originated loans, by class, that have been restructured:


	Three Months Ended June 30, 2016						Six Months Ended June 30, 2016
(dollars in thousands)	Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Commercial real estate		—	$	—	$	—		4	$	778	$	749
Commercial and industrial		—		—		—		—		—		—

Total commercial loans		—		—		—		4		778		749
Direct installment		120		1,960		1,832		265		3,984		3,772
Residential mortgages		8		385		390		27		1,420		1,402
Indirect installment		2		6		6		5		17		17
Consumer lines of credit		17		302		298		36		481		473

Total		147	$	2,653	$	2,526		337	$	6,680	$	6,413


	Three Months Ended June 30, 2015						Six Months Ended June 30, 2015
(dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Commercial real estate		—	$	—	$	—		2	$	312	$	176
Commercial and industrial		1		5		4		1		5		4

Total commercial loans		1		5		4		3		317		180
Direct installment		110		1,761		1,729		241		3,310		3,201
Residential mortgages		7		231		234		21		812		846
Indirect installment		5		14		13		10		30		30
Consumer lines of credit		14		250		249		30		520		519

Total		137	$	2,261	$	2,229		305	$	4,989	$	4,776

Following is a summary of originated TDRs, by class of loans and leases, for which there was a payment default, excluding loans that were either charged-off or cured by period end. Default occurs when a loan is 90 days or more past due and is within 12 months of restructuring (dollars in thousands).


	Three Months Ended June 30, 2016 (1)				Six Months Ended June 30, 2016 (1)
(dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Commercial real estate		—	$	—		—	$	—
Commercial and industrial		—		—		—		—

Total commercial loans		—		—		—		—
Direct installment		32		135		57		246
Residential mortgages		3		142		4		193
Indirect installment		2		8		6		8
Consumer lines of credit		1		55		2		65

Total		38	$	340		69	$	512


	Three Months Ended June 30, 2015 (1)				Six Months Ended June 30, 2015 (1)
(dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Commercial real estate		—	$	—		—	$	—
Commercial and industrial		1		229		1		229

Total commercial loans		1		229		1		229
Direct installment		27		96		58		182
Residential mortgages		3		114		4		171
Indirect installment		3		7		5		7
Consumer lines of credit		—		—		1		92
Other		—		—		—		—

Total		34	$	446		69	$	681

(1)	The recorded investment is as of period end.