XML 37 R26.htm IDEA: XBRL DOCUMENT v3.5.0.2
Loans (Tables)
 9 Months Ended
Sep. 30, 2016
Loans [Abstract]  
Analysis of allowance for loan losses by portfolio segment
An analysis of the allowance for loan losses by portfolio segment for the three months ended September 30, follows:

  
Commercial
  
Mortgage
  
Installment
  
Payment
Plan
Receivables
  
Subjective
Allocation
  
Total
 
  
(In thousands)
 
2016
                  
Balance at beginning of period
 
$
6,039
  
$
9,956
  
$
1,139
  
$
52
  
$
5,526
  
$
22,712
 
Additions (deductions)
                        
Provision for loan losses
  
(153
)
  
(247
)
  
208
   
-
   
17
   
(175
)
Recoveries credited to allowance
  
474
   
195
   
236
   
-
   
-
   
905
 
Loans charged against the allowance
  
(365
)
  
(561
)
  
(473
)
  
-
   
-
   
(1,399
)
Balance at end of period
 
$
5,995
  
$
9,343
  
$
1,110
  
$
52
  
$
5,543
  
$
22,043
 
                         
2015
                        
Balance at beginning of period
 
$
6,707
  
$
11,465
  
$
1,461
  
$
65
  
$
4,888
  
$
24,586
 
Additions (deductions)
                        
Provision for loan losses
  
(26
)
  
(47
)
  
(49
)
  
(5
)
  
(117
)
  
(244
)
Recoveries credited to allowance
  
637
   
286
   
250
   
-
   
-
   
1,173
 
Loans charged against the allowance
  
(190
)
  
(379
)
  
(342
)
  
-
   
-
   
(911
)
Balance at end of period
 
$
7,128
  
$
11,325
  
$
1,320
  
$
60
  
$
4,771
  
$
24,604
 
 
An analysis of the allowance for loan losses by portfolio segment for the nine months ended September 30, follows:

  
Commercial
  
Mortgage
  
Installment
  
Payment
Plan
Receivables
  
Subjective
Allocation
  
Total
 
  
(In thousands)
    
2016
                  
Balance at beginning of period
 
$
5,670
  
$
10,391
  
$
1,181
  
$
56
  
$
5,272
  
$
22,570
 
Additions (deductions)
                        
Provision for loan losses
  
(1,220
)
  
(885
)
  
399
   
(4
)
  
271
   
(1,439
)
Recoveries credited to allowance
  
1,944
   
871
   
808
   
-
   
-
   
3,623
 
Loans charged against the allowance
  
(399
)
  
(1,034
)
  
(1,278
)
  
-
   
-
   
(2,711
)
Balance at end of period
 
$
5,995
  
$
9,343
  
$
1,110
  
$
52
  
$
5,543
  
$
22,043
 
                         
2015
                        
Balance at beginning of period
 
$
5,445
  
$
13,444
  
$
1,814
  
$
64
  
$
5,223
  
$
25,990
 
Additions (deductions)
                        
Provision for loan losses
  
479
   
(881
)
  
(179
)
  
(4
)
  
(452
)
  
(1,037
)
Recoveries credited to allowance
  
1,722
   
843
   
853
   
-
   
-
   
3,418
 
Loans charged against the allowance
  
(518
)
  
(2,081
)
  
(1,168
)
  
-
   
-
   
(3,767
)
Balance at end of period
 
$
7,128
  
$
11,325
  
$
1,320
  
$
60
  
$
4,771
  
$
24,604
 
Allowance for loan losses and recorded investment in loans by portfolio segment
Allowance for loan losses and recorded investment in loans by portfolio segment follows:

  
Commercial
  
Mortgage
  
Installment
  
Payment
Plan
Receivables
  
Subjective
Allocation
  
Total
 
  
(In thousands)
 
September 30, 2016
                  
Allowance for loan losses
                  
Individually evaluated for impairment
 
$
3,325
  
$
6,717
  
$
333
  
$
-
  
$
-
  
$
10,375
 
Collectively evaluated for impairment
  
2,670
   
2,626
   
777
   
52
   
5,543
   
11,668
 
Total ending allowance balance
 
$
5,995
  
$
9,343
  
$
1,110
  
$
52
  
$
5,543
  
$
22,043
 
                         
Loans
                        
Individually evaluated for impairment
 
$
16,087
  
$
60,891
  
$
5,101
  
$
-
      
$
82,079
 
Collectively evaluated for impairment
  
770,642
   
464,234
   
263,973
   
31,188
       
1,530,037
 
Total loans recorded investment
  
786,729
   
525,125
   
269,074
   
31,188
       
1,612,116
 
Accrued interest included in recorded investment
  
1,753
   
2,292
   
717
   
-
       
4,762
 
Total loans
 
$
784,976
  
$
522,833
  
$
268,357
  
$
31,188
      
$
1,607,354
 
                         
December 31, 2015
                        
Allowance for loan losses
                        
Individually evaluated for impairment
 
$
2,708
  
$
7,818
  
$
457
  
$
-
  
$
-
  
$
10,983
 
Collectively evaluated for impairment
  
2,962
   
2,573
   
724
   
56
   
5,272
   
11,587
 
Total ending allowance balance
 
$
5,670
  
$
10,391
  
$
1,181
  
$
56
  
$
5,272
  
$
22,570
 
                         
Loans
                        
Individually evaluated for impairment
 
$
16,868
  
$
66,375
  
$
5,888
  
$
-
      
$
89,131
 
Collectively evaluated for impairment
  
733,399
   
433,931
   
228,827
   
34,599
       
1,430,756
 
Total loans recorded investment
  
750,267
   
500,306
   
234,715
   
34,599
       
1,519,887
 
Accrued interest included in recorded investment
  
1,869
   
2,270
   
698
   
-
       
4,837
 
Total loans
 
$
748,398
  
$
498,036
  
$
234,017
  
$
34,599
      
$
1,515,050
 
Loans on non-accrual status and past due more than 90 days
Loans on non-accrual status and past due more than 90 days (“Non-performing Loans”) follow:

  
90+ and
Still
Accruing
  
Non-
Accrual
  
Total Non-
Performing
Loans
 
  
(In thousands)
 
September 30, 2016
         
Commercial
         
Income producing - real estate
 
$
-
  
$
658
  
$
658
 
Land, land development and construction - real estate
  
-
   
211
   
211
 
Commercial and industrial
  
-
   
2,517
   
2,517
 
Mortgage
            
1-4 family
  
-
   
4,429
   
4,429
 
Resort lending
  
-
   
1,624
   
1,624
 
Home equity - 1st lien
  
-
   
273
   
273
 
Home equity - 2nd lien
  
-
   
353
   
353
 
Purchased loans
  
-
   
-
   
-
 
Installment
            
Home equity - 1st lien
  
-
   
96
   
96
 
Home equity - 2nd lien
  
-
   
249
   
249
 
Loans not secured by real estate
  
-
   
384
   
384
 
Other
  
-
   
3
   
3
 
Payment plan receivables
            
Full refund
  
-
   
-
   
-
 
Partial refund
  
-
   
4
   
4
 
Other
  
-
   
-
   
-
 
Total recorded investment
 
$
-
  
$
10,801
  
$
10,801
 
Accrued interest included in recorded investment
 
$
-
  
$
-
  
$
-
 
December 31, 2015
            
Commercial
            
Income producing - real estate
 
$
-
  
$
1,027
  
$
1,027
 
Land, land development and construction - real estate
  
49
   
401
   
450
 
Commercial and industrial
  
69
   
2,028
   
2,097
 
Mortgage
            
1-4 family
  
-
   
4,744
   
4,744
 
Resort lending
  
-
   
1,094
   
1,094
 
Home equity - 1st lien
  
-
   
187
   
187
 
Home equity - 2nd lien
  
-
   
147
   
147
 
Purchased loans
  
-
   
2
   
2
 
Installment
            
Home equity - 1st lien
  
-
   
106
   
106
 
Home equity - 2nd lien
  
-
   
443
   
443
 
Loans not secured by real estate
  
-
   
421
   
421
 
Other
  
-
   
2
   
2
 
Payment plan receivables
            
Full refund
  
-
   
2
   
2
 
Partial refund
  
-
   
2
   
2
 
Other
  
-
   
1
   
1
 
Total recorded investment
 
$
118
  
$
10,607
  
$
10,725
 
Accrued interest included in recorded investment
 
$
2
  
$
-
  
$
2
 
Aging analysis of loans by class
An aging analysis of loans by class follows:

  
Loans Past Due
  
Loans not
  
Total
 
  
30-59 days
  
60-89 days
  
90+ days
  
Total
  
Past Due
  
Loans
 
  
(In thousands)
 
September 30, 2016
                  
Commercial
                  
Income producing - real estate
 
$
-
  
$
-
  
$
541
  
$
541
  
$
273,461
  
$
274,002
 
Land, land development and construction - real estate
  
-
   
-
   
133
   
133
   
53,836
   
53,969
 
Commercial and industrial
  
105
   
116
   
457
   
678
   
458,080
   
458,758
 
Mortgage
                        
1-4 family
  
2,180
   
1,461
   
4,429
   
8,070
   
285,892
   
293,962
 
Resort lending
  
1,975
   
-
   
1,624
   
3,599
   
103,597
   
107,196
 
Home equity - 1st lien
  
107
   
-
   
273
   
380
   
27,542
   
27,922
 
Home equity - 2nd lien
  
226
   
73
   
353
   
652
   
52,882
   
53,534
 
Purchased loans
  
7
   
1
   
-
   
8
   
42,503
   
42,511
 
Installment
                        
Home equity - 1st lien
  
474
   
179
   
96
   
749
   
13,079
   
13,828
 
Home equity - 2nd lien
  
133
   
72
   
249
   
454
   
15,064
   
15,518
 
Loans not secured by real estate
  
291
   
114
   
384
   
789
   
236,376
   
237,165
 
Other
  
10
   
4
   
3
   
17
   
2,546
   
2,563
 
Payment plan receivables
                        
Full refund
  
258
   
70
   
-
   
328
   
10,035
   
10,363
 
Partial refund
  
506
   
313
   
4
   
823
   
14,041
   
14,864
 
Other
  
159
   
40
   
-
   
199
   
5,762
   
5,961
 
Total recorded investment
 
$
6,431
  
$
2,443
  
$
8,546
  
$
17,420
  
$
1,594,696
  
$
1,612,116
 
Accrued interest included in recorded investment
 
$
67
  
$
28
  
$
-
  
$
95
  
$
4,667
  
$
4,762
 
                         
December 31, 2015
                        
Commercial
                        
Income producing - real estate
 
$
203
  
$
209
  
$
647
  
$
1,059
  
$
305,155
  
$
306,214
 
Land, land development and construction - real estate
  
-
   
-
   
252
   
252
   
44,231
   
44,483
 
Commercial and industrial
  
785
   
16
   
151
   
952
   
398,618
   
399,570
 
Mortgage
                        
1-4 family
  
1,943
   
640
   
4,744
   
7,327
   
269,880
   
277,207
 
Resort lending
  
307
   
-
   
1,094
   
1,401
   
114,619
   
116,020
 
Home equity - 1st lien
  
50
   
-
   
187
   
237
   
22,327
   
22,564
 
Home equity - 2nd lien
  
439
   
54
   
147
   
640
   
50,618
   
51,258
 
Purchased loans
  
9
   
1
   
2
   
12
   
33,245
   
33,257
 
Installment
                        
Home equity - 1st lien
  
315
   
107
   
106
   
528
   
16,707
   
17,235
 
Home equity - 2nd lien
  
231
   
149
   
443
   
823
   
19,727
   
20,550
 
Loans not secured by real estate
  
567
   
83
   
421
   
1,071
   
193,680
   
194,751
 
Other
  
15
   
3
   
2
   
20
   
2,159
   
2,179
 
Payment plan receivables
                        
Full refund
  
492
   
62
   
2
   
556
   
21,294
   
21,850
 
Partial refund
  
415
   
228
   
2
   
645
   
5,834
   
6,479
 
Other
  
110
   
3
   
1
   
114
   
6,156
   
6,270
 
Total recorded investment
 
$
5,881
  
$
1,555
  
$
8,201
  
$
15,637
  
$
1,504,250
  
$
1,519,887
 
Accrued interest included in recorded investment
 
$
53
  
$
17
  
$
2
  
$
72
  
$
4,765
  
$
4,837
 
Impaired loans
Impaired loans are as follows:

  
September 30,
2016
  
December 31,
2015
 
Impaired loans with no allocated allowance
 
(In thousands)
 
TDR
 
$
541
  
$
2,518
 
Non - TDR
  
133
   
203
 
Impaired loans with an allocated allowance
        
TDR - allowance based on collateral
  
3,472
   
4,810
 
TDR - allowance based on present value cash flow
  
76,701
   
81,002
 
Non - TDR - allowance based on collateral
  
902
   
260
 
Non - TDR - allowance based on present value cash flow
  
-
   
-
 
Total impaired loans
 
$
81,749
  
$
88,793
 
         
Amount of allowance for loan losses allocated
        
TDR - allowance based on collateral
 
$
1,710
  
$
2,436
 
TDR - allowance based on present value cash flow
  
8,361
   
8,471
 
Non - TDR - allowance based on collateral
  
304
   
76
 
Non - TDR - allowance based on present value cash flow
  
-
   
-
 
Total amount of allowance for loan losses allocated
 
$
10,375
  
$
10,983
 
 
Impaired loans by class  are as follows (1):

  
September 30, 2016
  
December 31, 2015
 
  
Recorded
Investment
  
Unpaid
Principal
Balance
  
Related
Allowance
  
Recorded
Investment
  
Unpaid
Principal
Balance
  
Related
Allowance
 
With no related allowance recorded:
 
(In thousands)
    
Commercial
                  
Income producing - real estate
 
$
541
  
$
787
  
$
-
  
$
641
  
$
851
  
$
-
 
Land, land development & construction-real estate
  
133
   
709
   
-
   
818
   
1,393
   
-
 
Commercial and industrial
  
-
   
-
   
-
   
1,245
   
1,241
   
-
 
Mortgage
                        
1-4 family
  
1
   
305
   
-
   
23
   
183
   
-
 
Resort lending
  
-
   
-
   
-
   
-
   
-
   
-
 
Home equity - 1st lien
  
-
   
-
   
-
   
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
   
-
   
-
   
-
 
Installment
                        
Home equity - 1st lien
  
-
   
67
   
-
   
-
   
76
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
   
-
   
-
   
-
 
Loans not secured by real estate
  
-
   
-
   
-
   
-
   
-
   
-
 
Other
  
-
   
-
   
-
   
-
   
-
   
-
 
   
675
   
1,868
   
-
   
2,727
   
3,744
   
-
 
With an allowance recorded:
                        
Commercial
                        
Income producing - real estate
  
7,813
   
7,951
   
561
   
8,377
   
9,232
   
516
 
Land, land development & construction-real estate
  
389
   
391
   
67
   
1,690
   
1,778
   
296
 
Commercial and industrial
  
7,211
   
7,566
   
2,697
   
4,097
   
4,439
   
1,896
 
Mortgage
                        
1-4 family
  
43,038
   
44,922
   
4,173
   
47,792
   
49,808
   
5,132
 
Resort lending
  
17,295
   
17,327
   
2,488
   
18,148
   
18,319
   
2,662
 
Home equity - 1st lien
  
239
   
244
   
32
   
168
   
172
   
9
 
Home equity - 2nd lien
  
318
   
400
   
24
   
244
   
325
   
15
 
Installment
                        
Home equity - 1st lien
  
2,108
   
2,223
   
105
   
2,364
   
2,492
   
143
 
Home equity - 2nd lien
  
2,461
   
2,480
   
191
   
2,929
   
2,951
   
271
 
Loans not secured by real estate
  
530
   
566
   
37
   
587
   
658
   
42
 
Other
  
2
   
2
   
-
   
8
   
8
   
1
 
   
81,404
   
84,072
   
10,375
   
86,404
   
90,182
   
10,983
 
Total
                        
Commercial
                        
Income producing - real estate
  
8,354
   
8,738
   
561
   
9,018
   
10,083
   
516
 
Land, land development & construction-real estate
  
522
   
1,100
   
67
   
2,508
   
3,171
   
296
 
Commercial and industrial
  
7,211
   
7,566
   
2,697
   
5,342
   
5,680
   
1,896
 
Mortgage
                        
1-4 family
  
43,039
   
45,227
   
4,173
   
47,815
   
49,991
   
5,132
 
Resort lending
  
17,295
   
17,327
   
2,488
   
18,148
   
18,319
   
2,662
 
Home equity - 1st lien
  
239
   
244
   
32
   
168
   
172
   
9
 
Home equity - 2nd lien
  
318
   
400
   
24
   
244
   
325
   
15
 
Installment
                        
Home equity - 1st lien
  
2,108
   
2,290
   
105
   
2,364
   
2,568
   
143
 
Home equity - 2nd lien
  
2,461
   
2,480
   
191
   
2,929
   
2,951
   
271
 
Loans not secured by real estate
  
530
   
566
   
37
   
587
   
658
   
42
 
Other
  
2
   
2
   
-
   
8
   
8
   
1
 
Total
 
$
82,079
  
$
85,940
  
$
10,375
  
$
89,131
  
$
93,926
  
$
10,983
 
                         
Accrued interest included in recorded investment
 
$
330
          
$
338
         
 
(1)
There were no impaired payment plan receivables or purchased mortgage loans at September 30, 2016 or December 31, 2015
Average recorded investment in and interest income earned on impaired loans by class
Average recorded investment in and interest income earned on impaired loans by class for the three month periods ending September 30, follows (1):

  
2016
  
2015
 
  
Average
Recorded
Investment
  
Interest
Income
Recognized
  
Average
Recorded
Investment
  
Interest
Income
Recognized
 
With no related allowance recorded:
 
(In thousands)
 
Commercial
            
Income producing - real estate
 
$
551
  
$
-
  
$
5,133
  
$
45
 
Land, land development & construction-real estate
  
133
   
-
   
932
   
14
 
Commercial and industrial
  
-
   
-
   
1,922
   
68
 
Mortgage
                
1-4 family
  
12
   
3
   
24
   
3
 
Resort lending
  
-
   
-
   
-
   
-
 
Home equity - 1st lien
  
-
   
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
   
-
 
Installment
                
Home equity - 1st lien
  
-
   
3
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
   
-
 
Loans not secured by real estate
  
-
   
-
   
-
   
-
 
Other
  
-
   
-
   
-
   
-
 
   
696
   
6
   
8,011
   
130
 
With an allowance recorded:
                
Commercial
                
Income producing - real estate
  
8,000
   
111
   
14,655
   
154
 
Land, land development & construction-real estate
  
1,117
   
3
   
1,993
   
2
 
Commercial and industrial
  
7,145
   
69
   
6,431
   
37
 
Mortgage
                
1-4 family
  
44,256
   
470
   
49,706
   
554
 
Resort lending
  
17,372
   
161
   
18,414
   
163
 
Home equity - 1st lien
  
241
   
2
   
157
   
2
 
Home equity - 2nd lien
  
280
   
6
   
185
   
-
 
Installment
                
Home equity - 1st lien
  
2,140
   
34
   
2,474
   
47
 
Home equity - 2nd lien
  
2,585
   
37
   
2,999
   
47
 
Loans not secured by real estate
  
536
   
9
   
645
   
10
 
Other
  
4
   
-
   
10
   
-
 
   
83,676
   
902
   
97,669
   
1,016
 
Total
                
Commercial
                
Income producing - real estate
  
8,551
   
111
   
19,788
   
199
 
Land, land development & construction-real estate
  
1,250
   
3
   
2,925
   
16
 
Commercial and industrial
  
7,145
   
69
   
8,353
   
105
 
Mortgage
                
1-4 family
  
44,268
   
473
   
49,730
   
557
 
Resort lending
  
17,372
   
161
   
18,414
   
163
 
Home equity - 1st lien
  
241
   
2
   
157
   
2
 
Home equity - 2nd lien
  
280
   
6
   
185
   
-
 
Installment
                
Home equity - 1st lien
  
2,140
   
37
   
2,474
   
47
 
Home equity - 2nd lien
  
2,585
   
37
   
2,999
   
47
 
Loans not secured by real estate
  
536
   
9
   
645
   
10
 
Other
  
4
   
-
   
10
   
-
 
Total
 
$
84,372
  
$
908
  
$
105,680
  
$
1,146
 

(1)
There were no impaired payment plan receivables or purchased mortgage loans during the three month periods ended September 30, 2016 and 2015, respectively.
 
Average recorded investment in and interest income earned on impaired loans by class for the nine month periods ending September 30, follows (1):

  
2016
  
2015
 
  
Average
Recorded
Investment
  
Interest
Income
Recognized
  
Average
Recorded
Investment
  
Interest
Income
Recognized
 
With no related allowance recorded:
 
(In thousands)
 
Commercial
            
Income producing - real estate
 
$
632
  
$
2
  
$
5,490
  
$
170
 
Land, land development & construction-real estate
  
405
   
7
   
986
   
57
 
Commercial and industrial
  
616
   
21
   
2,345
   
195
 
Mortgage
                
1-4 family
  
12
   
9
   
18
   
5
 
Resort lending
  
-
   
-
   
15
   
-
 
Home equity - 1st lien
  
-
   
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
   
-
 
Installment
                
Home equity - 1st lien
  
-
   
4
   
-
   
1
 
Home equity - 2nd lien
  
4
   
-
   
-
   
-
 
Loans not secured by real estate
  
-
   
-
   
-
   
-
 
Other
  
-
   
-
   
-
   
-
 
   
1,669
   
43
   
8,854
   
428
 
With an allowance recorded:
                
Commercial
                
Income producing - real estate
  
8,153
   
318
   
13,752
   
452
 
Land, land development & construction-real estate
  
1,352
   
29
   
2,351
   
35
 
Commercial and industrial
  
5,929
   
151
   
7,304
   
117
 
Mortgage
                
1-4 family
  
45,728
   
1,447
   
51,078
   
1,644
 
Resort lending
  
17,705
   
480
   
18,523
   
507
 
Home equity - 1st lien
  
223
   
6
   
159
   
6
 
Home equity - 2nd lien
  
231
   
11
   
154
   
6
 
Installment
                
Home equity - 1st lien
  
2,233
   
118
   
2,582
   
141
 
Home equity - 2nd lien
  
2,723
   
122
   
3,086
   
147
 
Loans not secured by real estate
  
557
   
28
   
669
   
29
 
Other
  
5
   
-
   
11
   
1
 
   
84,839
   
2,710
   
99,669
   
3,085
 
Total
                
Commercial
                
Income producing - real estate
  
8,785
   
320
   
19,242
   
622
 
Land, land development & construction-real estate
  
1,757
   
36
   
3,337
   
92
 
Commercial and industrial
  
6,545
   
172
   
9,649
   
312
 
Mortgage
                
1-4 family
  
45,740
   
1,456
   
51,096
   
1,649
 
Resort lending
  
17,705
   
480
   
18,538
   
507
 
Home equity - 1st lien
  
223
   
6
   
159
   
6
 
Home equity - 2nd lien
  
231
   
11
   
154
   
6
 
Installment
                
Home equity - 1st lien
  
2,233
   
122
   
2,582
   
142
 
Home equity - 2nd lien
  
2,727
   
122
   
3,086
   
147
 
Loans not secured by real estate
  
557
   
28
   
669
   
29
 
Other
  
5
   
-
   
11
   
1
 
Total
 
$
86,508
  
$
2,753
  
$
108,523
  
$
3,513
 

(1)
There were no impaired payment plan receivables or purchased mortgage loans during the nine month periods ended September 30, 2016 and 2015, respectively.
Troubled debt restructurings
Troubled debt restructurings follow:

  
September 30, 2016
 
  
Commercial
  
Retail
   
Total
 
  
(In thousands)
 
Performing TDRs
 
$
12,642
  
$
62,299
   
$
74,941
 
Non-performing TDRs(1)
  
2,352
   
3,421
 
(2) 
  
5,773
 
Total
 
$
14,994
  
$
65,720
   
$
80,714
 

 December 31, 2015 
 Commercial  
Retail
   
Total
 
 
(In thousands)
 
Performing TDRs
 
$
13,318
  
$
68,194
   
$
81,512
 
Non-performing TDRs(1)
  
3,041
   
3,777
 
(2) 
  
6,818
 
Total
 
$
16,359
  
$
71,971
   
$
88,330
 
 
(1)
Included in non-performing loans table above.
(2)
Also includes loans on non-accrual at the time of modification until six payments are received on a timely basis.
Troubled debt restructuring during the period
Loans that have been classified as troubled debt restructurings during the three-month periods ended September 30 follow(1):

  
Number of
Contracts
  
Pre-modification
Recorded
Balance
  
Post-modification
Recorded
Balance
 
  
(Dollars in thousands)
 
2016
         
Commercial
         
Income producing - real estate
  
2
  
$
180
  
$
180
 
Land, land development & construction-real estate
  
-
   
-
   
-
 
Commercial and industrial
  
2
   
175
   
158
 
Mortgage
            
1-4 family
  
2
   
204
   
207
 
Resort lending
  
-
   
-
   
-
 
Home equity - 1st lien
  
-
   
-
   
-
 
Home equity - 2nd lien
  
2
   
77
   
78
 
Installment
            
Home equity - 1st lien
  
2
   
82
   
85
 
Home equity - 2nd lien
  
1
   
7
   
7
 
Loans not secured by real estate
  
1
   
34
   
34
 
Other
  
-
   
-
   
-
 
Total
  
12
  
$
759
  
$
749
 
             
2015
            
Commercial
            
Income producing - real estate
  
-
  
$
-
  
$
-
 
Land, land development & construction-real estate
  
-
   
-
   
-
 
Commercial and industrial
  
1
   
48
   
26
 
Mortgage
            
1-4 family
  
3
   
343
   
344
 
Resort lending
  
-
   
-
   
-
 
Home equity - 1st lien
  
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
 
Installment
            
Home equity - 1st lien
  
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
 
Loans not secured by real estate
  
1
   
19
   
19
 
Other
  
-
   
-
   
-
 
Total
  
5
  
$
410
  
$
389
 

(1)
There were no payment plan receivables or purchased mortgage loans classified as troubled debt restructurings during the three month periods ended September 30, 2016 and 2015, respectively.
 
Loans that have been classified as troubled debt restructurings during the nine-month periods ended September 30 follow(1):

  
Number of
Contracts
  
Pre-modification
Recorded
Balance
  
Post-modification
Recorded
Balance
 
  
(Dollars in thousands)
 
2016
         
Commercial
         
Income producing - real estate
  
4
  
$
290
  
$
290
 
Land, land development & construction-real estate
  
-
   
-
   
-
 
Commercial and industrial
  
6
   
1,933
   
1,916
 
Mortgage
            
1-4 family
  
5
   
396
   
470
 
Resort lending
  
1
   
116
   
117
 
Home equity - 1st lien
  
1
   
107
   
78
 
Home equity - 2nd lien
  
2
   
77
   
78
 
Installment
            
Home equity - 1st lien
  
6
   
141
   
145
 
Home equity - 2nd lien
  
5
   
133
   
136
 
Loans not secured by real estate
  
2
   
46
   
46
 
Other
  
-
   
-
   
-
 
Total
  
32
  
$
3,239
  
$
3,276
 
             
2015
            
Commercial
            
Income producing - real estate
  
2
  
$
229
  
$
234
 
Land, land development & construction-real estate
  
-
   
-
   
-
 
Commercial and industrial
  
4
   
301
   
273
 
Mortgage
            
1-4 family
  
9
   
1,373
   
1,189
 
Resort lending
  
1
   
313
   
309
 
Home equity - 1st lien
  
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
 
Installment
            
Home equity - 1st lien
  
5
   
190
   
164
 
Home equity - 2nd lien
  
3
   
58
   
58
 
Loans not secured by real estate
  
2
   
19
   
25
 
Other
  
-
   
-
   
-
 
Total
  
26
  
$
2,483
  
$
2,252
 

(1)
There were no payment plan receivables or purchased mortgage loans classified as troubled debt restructurings during the nine month periods ended September 30, 2016 and 2015, respectively.
Troubled debt restructuring during the past twelve months that subsequently defaulted
Loans that have been classified as troubled debt restructurings during the past twelve months and that have subsequently defaulted during the three-month periods ended September 30 follow:

  
Number of
Contracts
  
Recorded
Balance
 
  
(Dollars in thousands)
 
2016
      
Commercial
      
Income producing - real estate
  
-
  
$
-
 
Land, land development & construction-real estate
  
-
   
-
 
Commercial and industrial
  
-
   
-
 
Mortgage
        
1-4 family
  
-
   
-
 
Resort lending
  
-
   
-
 
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Installment
        
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Loans not secured by real estate
  
-
   
-
 
Other
  
-
   
-
 
   
-
  
$
-
 
         
2015
        
Commercial
        
Income producing - real estate
  
-
  
$
-
 
Land, land development & construction-real estate
  
-
   
-
 
Commercial and industrial
  
-
   
-
 
Mortgage
        
1-4 family
  
1
   
54
 
Resort lending
  
-
   
-
 
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Installment
        
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Loans not secured by real estate
  
-
   
-
 
Other
  
-
   
-
 
   
1
  
$
54
 
 
Loans that have been classified as troubled debt restructurings during the past twelve months and that have subsequently defaulted during the nine-month periods ended September 30 follow:

  
Number of
Contracts
  
Recorded
Balance
 
  
(Dollars in thousands)
 
2016
      
Commercial
      
Income producing - real estate
  
-
  
$
-
 
Land, land development & construction-real estate
  
-
   
-
 
Commercial and industrial
  
-
   
-
 
Mortgage
        
1-4 family
  
-
   
-
 
Resort lending
  
-
   
-
 
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Installment
        
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Loans not secured by real estate
  
-
   
-
 
Other
  
-
   
-
 
   
-
  
$
-
 
         
2015
        
Commercial
        
Income producing - real estate
  
-
  
$
-
 
Land, land development & construction-real estate
  
-
   
-
 
Commercial and industrial
  
2
   
157
 
Mortgage
        
1-4 family
  
1
   
54
 
Resort lending
  
-
   
-
 
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Installment
        
Home equity - 1st lien
  
-
   
-
 
Home equity - 2nd lien
  
-
   
-
 
Loans not secured by real estate
  
1
   
4
 
Other
  
-
   
-
 
   
4
  
$
215
 
Summary of loan ratings by loan class
The following table summarizes loan ratings by loan class for our commercial loan segment:

  
Commercial
 
  
Non-watch
1-6
  
Watch
7-8
  
Substandard
Accrual
9
  
Non-
Accrual
10-11
  
Total
 
        
(In thousands)
       
September 30, 2016
               
Income producing - real estate
 
$
268,940
  
$
4,000
  
$
404
  
$
658
  
$
274,002
 
Land, land development and construction - real estate
  
53,559
   
199
   
-
   
211
   
53,969
 
Commercial and industrial
  
439,036
   
10,727
   
6,478
   
2,517
   
458,758
 
Total
 
$
761,535
  
$
14,926
  
$
6,882
  
$
3,386
  
$
786,729
 
Accrued interest included in total
 
$
1,676
  
$
56
  
$
21
  
$
-
  
$
1,753
 
                     
December 31, 2015
                    
Income producing - real estate
 
$
296,898
  
$
6,866
  
$
1,423
  
$
1,027
  
$
306,214
 
Land, land development and construction - real estate
  
40,844
   
2,995
   
243
   
401
   
44,483
 
Commercial and industrial
  
371,357
   
19,502
   
6,683
   
2,028
   
399,570
 
Total
 
$
709,099
  
$
29,363
  
$
8,349
  
$
3,456
  
$
750,267
 
Accrued interest included in total
 
$
1,729
  
$
108
  
$
32
  
$
-
  
$
1,869
 

For each of our mortgage and installment segment classes, we generally monitor credit quality based on the credit scores of the borrowers. These credit scores are generally updated semi-annually.
 
The following tables summarize credit scores by loan class for our mortgage and installment loan segments:
 
  
Mortgage (1)
 
  
1-4 Family
  
Resort
Lending
  
Home
Equity
1st Lien
  
Home
Equity
2nd Lien
  
Purchased
Loans
      
Total
   
  
(In thousands)
 
September 30, 2016
                  
800 and above
 
$
32,310
  
$
12,054
  
$
5,590
  
$
8,288
  
$
4,816
  
$
63,058
 
750-799
  
88,959
   
38,472
   
9,551
   
19,103
   
26,721
   
182,806
 
700-749
  
60,455
   
30,934
   
5,052
   
11,278
   
10,831
   
118,550
 
650-699
  
53,748
   
13,530
   
3,690
   
8,259
   
-
   
79,227
 
600-649
  
27,848
   
6,218
   
1,365
   
3,342
   
-
   
38,773
 
550-599
  
15,413
   
2,467
   
738
   
1,542
   
-
   
20,160
 
500-549
  
7,955
   
871
   
484
   
1,246
   
-
   
10,556
 
Under 500
  
5,097
   
596
   
172
   
244
   
-
   
6,109
 
Unknown
  
2,177
   
2,054
   
1,280
   
232
   
143
   
5,886
 
Total
 
$
293,962
  
$
107,196
  
$
27,922
  
$
53,534
  
$
42,511
  
$
525,125
 
Accrued interest included in total
 
$
1,386
  
$
473
  
$
104
  
$
210
  
$
119
  
$
2,292
 
                         
December 31, 2015
                        
800 and above
 
$
28,760
  
$
13,943
  
$
4,374
  
$
7,696
  
$
2,310
  
$
57,083
 
750-799
  
78,802
   
40,888
   
7,137
   
17,405
   
23,283
   
167,515
 
700-749
  
56,519
   
31,980
   
4,341
   
11,022
   
6,940
   
110,802
 
650-699
  
51,813
   
17,433
   
3,203
   
7,691
   
-
   
80,140
 
600-649
  
27,966
   
4,991
   
1,467
   
3,684
   
-
   
38,108
 
550-599
  
16,714
   
3,070
   
1,027
   
1,918
   
-
   
22,729
 
500-549
  
10,610
   
1,051
   
572
   
1,295
   
-
   
13,528
 
Under 500
  
4,708
   
554
   
244
   
265
   
-
   
5,771
 
Unknown
  
1,315
   
2,110
   
199
   
282
   
724
   
4,630
 
Total
 
$
277,207
  
$
116,020
  
$
22,564
  
$
51,258
  
$
33,257
  
$
500,306
 
Accrued interest included in total
 
$
1,396
  
$
477
  
$
87
  
$
196
  
$
114
  
$
2,270
 
 
(1)
Credit scores have been updated within the last twelve months.
 
  
Installment(1)
 
  
Home
Equity
1st Lien
  
Home
Equity
2nd Lien
  
Loans not
Secured by
Real Estate
  
Other
  
Total
 
  
(In thousands)
 
September 30, 2016
               
800 and above
 
$
1,373
  
$
1,953
  
$
51,471
  
$
108
  
$
54,905
 
750-799
  
3,031
   
3,558
   
110,667
   
680
   
117,936
 
700-749
  
2,170
   
2,872
   
43,616
   
812
   
49,470
 
650-699
  
2,690
   
3,244
   
18,322
   
522
   
24,778
 
600-649
  
2,193
   
1,668
   
4,080
   
281
   
8,222
 
550-599
  
1,310
   
1,348
   
1,690
   
52
   
4,400
 
500-549
  
895
   
631
   
1,126
   
48
   
2,700
 
Under 500
  
134
   
233
   
309
   
25
   
701
 
Unknown
  
32
   
11
   
5,884
   
35
   
5,962
 
Total
 
$
13,828
  
$
15,518
  
$
237,165
  
$
2,563
  
$
269,074
 
Accrued interest included in total
 
$
58
  
$
57
  
$
582
  
$
20
  
$
717
 
                     
December 31, 2015
                    
800 and above
 
$
1,792
  
$
1,782
  
$
44,254
  
$
58
  
$
47,886
 
750-799
  
4,117
   
5,931
   
86,800
   
531
   
97,379
 
700-749
  
2,507
   
3,899
   
34,789
   
694
   
41,889
 
650-699
  
3,508
   
4,182
   
16,456
   
499
   
24,645
 
600-649
  
2,173
   
2,153
   
4,979
   
200
   
9,505
 
550-599
  
1,800
   
1,346
   
1,997
   
109
   
5,252
 
500-549
  
1,056
   
855
   
1,170
   
61
   
3,142
 
Under 500
  
223
   
370
   
385
   
23
   
1,001
 
Unknown
  
59
   
32
   
3,921
   
4
   
4,016
 
Total
 
$
17,235
  
$
20,550
  
$
194,751
  
$
2,179
  
$
234,715
 
Accrued interest included in total
 
$
78
  
$
83
  
$
520
  
$
17
  
$
698
 

(1)
Credit scores have been updated within the last twelve months.

The following table summarizes credit ratings of insurer or risk retention group counterparties by class of payment plan receivable:

  
Payment Plan Receivables
 
  
Full
Refund
  
Partial
Refund
  
Other
  
Total
 
  
(In thousands)
 
September 30, 2016
            
AM Best rating
            
A+
 
$
-
  
$
8
  
$
-
  
$
8
 
A
  
1,094
   
13,696
   
-
   
14,790
 
A-
  
977
   
1,110
   
3,458
   
5,545
 
B+
  
-
   
-
   
2,502
   
2,502
 
Not rated
  
8,292
   
50
   
1
   
8,343
 
Total
 
$
10,363
  
$
14,864
  
$
5,961
  
$
31,188
 
                 
December 31, 2015
                
AM Best rating
                
A+
 
$
-
  
$
6
  
$
-
  
$
6
 
A
  
2,712
   
5,203
   
-
   
7,915
 
A-
  
3,418
   
1,177
   
6,265
   
10,860
 
Not rated
  
15,720
   
93
   
5
   
15,818
 
Total
 
$
21,850
  
$
6,479
  
$
6,270
  
$
34,599