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Loans
 3 Months Ended
Mar. 31, 2017
Loans [Abstract]  
Loans
4.
Loans

Our assessment of the allowance for loan losses is based on an evaluation of the loan portfolio, recent loss experience, current economic conditions and other pertinent factors.
 
An analysis of the allowance for loan losses by portfolio segment for the three months ended March 31, follows:

     
Commercial
   
Mortgage
   
Installment
Payment
Plan
Receivables(1)
 
Subjective
Allocation
  
Total
 
  
(In thousands)
 
2017
                  
Balance at beginning of period
 
$
4,880
  
$
8,681
  
$
1,011
  
$
-
  
$
5,662
  
$
20,234
 
Additions (deductions)
                        
Provision for loan losses
  
(61
)
  
(699
)
  
133
   
-
   
268
   
(359
)
Recoveries credited to allowance
  
404
   
486
   
239
   
-
   
-
   
1,129
 
Loans charged against the allowance
  
(135
)
  
(359
)
  
(472
)
  
-
   
-
   
(966
)
Balance at end of period
 
$
5,088
  
$
8,109
  
$
911
  
$
-
  
$
5,930
  
$
20,038
 
                         
2016
                        
Balance at beginning of period
 
$
5,670
  
$
10,391
  
$
1,181
  
$
56
  
$
5,272
  
$
22,570
 
Additions (deductions)
                        
Provision for loan losses
  
(404
)
  
(279
)
  
65
   
(3
)
  
91
   
(530
)
Recoveries credited to allowance
  
356
   
382
   
221
   
-
   
-
   
959
 
Loans charged against the allowance
  
-
   
(198
)
  
(306
)
  
-
   
-
   
(504
)
Balance at end of period
 
$
5,622
  
$
10,296
  
$
1,161
  
$
53
  
$
5,363
  
$
22,495
 

(1) Payment plan receivables were reclassified to held for sale at December 31, 2016.  See note #15.

Allowance for loan losses and recorded investment in loans by portfolio segment follows:

       
Commercial
     
Mortgage
     
Installment
    
Subjective
Allocation
     
Total
  
(In thousands)
 
March 31, 2017
               
Allowance for loan losses
               
Individually evaluated for impairment
 
$
1,162
  
$
6,147
  
$
325
  
$
-
  
$
7,634
 
Collectively evaluated for impairment
  
3,926
   
1,962
   
586
   
5,930
   
12,404
 
Total ending allowance balance
 
$
5,088
  
$
8,109
  
$
911
  
$
5,930
  
$
20,038
 
                     
Loans
                    
Individually evaluated for impairment
 
$
11,573
  
$
57,216
  
$
4,675
      
$
73,464
 
Collectively evaluated for impairment
  
805,883
   
526,178
   
270,329
       
1,602,390
 
Total loans recorded investment
  
817,456
   
583,394
   
275,004
       
1,675,854
 
Accrued interest included in recorded investment
  
1,972
   
2,364
   
771
       
5,107
 
Total loans
 
$
815,484
  
$
581,030
  
$
274,233
      
$
1,670,747
 
                     
December 31, 2016
                    
Allowance for loan losses
                    
Individually evaluated for impairment
 
$
2,244
  
$
6,579
  
$
329
  
$
-
  
$
9,152
 
Collectively evaluated for impairment
  
2,636
   
2,102
   
682
   
5,662
   
11,082
 
Total ending allowance balance
 
$
4,880
  
$
8,681
  
$
1,011
  
$
5,662
  
$
20,234
 
                     
Loans
                    
Individually evaluated for impairment
 
$
15,767
  
$
59,151
  
$
4,913
      
$
79,831
 
Collectively evaluated for impairment
  
790,228
   
481,828
   
261,474
       
1,533,530
 
Total loans recorded investment
  
805,995
   
540,979
   
266,387
       
1,613,361
 
Accrued interest included in recorded investment
  
1,978
   
2,364
   
771
       
5,113
 
Total loans
 
$
804,017
  
$
538,615
  
$
265,616
      
$
1,608,248
 
 
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)
 
March 31, 2017
         
Commercial
         
Income producing - real estate
 
$
-
  
$
579
  
$
579
 
Land, land development and construction - real estate
  
-
   
4
   
4
 
Commercial and industrial
  
-
   
742
   
742
 
Mortgage
            
1-4 family
  
-
   
4,950
   
4,950
 
Resort lending
  
-
   
1,414
   
1,414
 
Home equity - 1st lien
  
-
   
208
   
208
 
Home equity - 2nd lien
  
-
   
290
   
290
 
Purchased loans
  
-
   
-
   
-
 
Installment
            
Home equity - 1st lien
  
-
   
184
   
184
 
Home equity - 2nd lien
  
-
   
350
   
350
 
Boat lending
  
-
   
129
   
129
 
Recreational vehicle lending
  
-
   
26
   
26
 
Other
  
-
   
140
   
140
 
Total recorded investment
 
$
-
  
$
9,016
  
$
9,016
 
Accrued interest included in recorded investment
 
$
-
  
$
2
  
$
2
 
December 31, 2016
            
Commercial
            
Income producing - real estate
 
$
-
  
$
628
  
$
628
 
Land, land development and construction - real estate
  
-
   
105
   
105
 
Commercial and industrial
  
-
   
4,430
   
4,430
 
Mortgage
            
1-4 family
  
-
   
5,248
   
5,248
 
Resort lending
  
-
   
1,507
   
1,507
 
Home equity - 1st lien
  
-
   
222
   
222
 
Home equity - 2nd lien
  
-
   
317
   
317
 
Purchased loans
  
-
   
-
   
-
 
Installment
            
Home equity - 1st lien
  
-
   
266
   
266
 
Home equity - 2nd lien
  
-
   
289
   
289
 
Boat lending
  
-
   
219
   
219
 
Recreational vehicle lending
  
-
   
21
   
21
 
Other
  
-
   
112
   
112
 
Total recorded investment
 
$
-
  
$
13,364
  
$
13,364
 
            
Accrued interest included in recorded investment
 
$
-
  
$
-
  
$
-
 
 
An aging analysis of loans by class follows:

    
Loans Past Due
    
Loans not
Past Due
    
Total
Loans
  
30-59 days
  
60-89 days
  
90+ days
  
Total
  
(In thousands)
 
March 31, 2017
                  
Commercial
                  
Income producing - real estate
 
$
-
  
$
30
  
$
418
  
$
448
  
$
281,597
  
$
282,045
 
Land, land development and construction - real estate
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
53,649
 
 
 
53,649
 
Commercial and industrial
  
366
   
114
   
69
   
549
   
481,213
   
481,762
 
Mortgage
                        
1-4 family
  
2,169
   
586
   
4,950
   
7,705
   
357,881
   
365,586
 
Resort lending
  
137
   
21
   
1,414
   
1,572
   
98,371
   
99,943
 
Home equity - 1st lien
  
133
   
-
   
208
   
341
   
30,596
   
30,937
 
Home equity - 2nd lien
  
385
   
32
   
290
   
707
   
48,280
   
48,987
 
Purchased loans
  
3
   
1
   
-
   
4
   
37,937
   
37,941
 
Installment
                        
Home equity - 1st lien
  
91
   
24
   
184
   
299
   
11,569
   
11,868
 
Home equity - 2nd lien
  
100
   
78
   
350
   
528
   
12,115
   
12,643
 
Boat lending
  
85
   
3
   
129
   
217
   
107,826
   
108,043
 
Recreational vehicle lending
  
42
   
2
   
26
   
70
   
78,698
   
78,768
 
Other
  
140
   
37
   
140
   
317
   
63,365
   
63,682
 
Total recorded investment
 
$
3,651
  
$
928
  
$
8,178
  
$
12,757
  
$
1,663,097
  
$
1,675,854
 
                        
Accrued interest included in recorded investment
 
$
46
  
$
10
  
$
2
  
$
58
  
$
5,049
  
$
5,107
 
                         
December 31, 2016
                        
Commercial
                        
Income producing - real estate
 
$
-
  
$
-
  
$
383
  
$
383
  
$
287,255
  
$
287,638
 
Land, land development and construction - real estate
  
74
   
-
   
31
   
105
   
51,670
   
51,775
 
Commercial and industrial
  
100
   
1,385
   
66
   
1,551
   
465,031
   
466,582
 
Mortgage
                        
1-4 family
  
2,361
   
869
   
5,248
   
8,478
   
306,063
   
314,541
 
Resort lending
  
-
   
-
   
1,507
   
1,507
   
101,541
   
103,048
 
Home equity - 1st lien
  
149
   
-
   
222
   
371
   
28,645
   
29,016
 
Home equity - 2nd lien
  
470
   
218
   
317
   
1,005
   
54,232
   
55,237
 
Purchased loans
  
13
   
2
   
-
   
15
   
39,122
   
39,137
 
Installment
                        
Home equity - 1st lien
  
311
   
48
   
266
   
625
   
12,025
   
12,650
 
Home equity - 2nd lien
  
238
   
41
   
289
   
568
   
13,390
   
13,958
 
Boat lending
  
184
   
33
   
219
   
436
   
102,489
   
102,925
 
Recreational vehicle lending
  
68
   
33
   
21
   
122
   
74,413
   
74,535
 
Other
  
289
   
30
   
112
   
431
   
61,888
   
62,319
 
Total recorded investment
 
$
4,257
  
$
2,659
  
$
8,681
  
$
15,597
  
$
1,597,764
  
$
1,613,361
 
                        
Accrued interest included in recorded investment
 
$
45
  
$
19
  
$
-
  
$
64
  
$
5,049
  
$
5,113
 
 
Impaired loans are as follows:

    
March 31,
2017
    
December 31,
2016
  
Impaired loans with no allocated allowance
 
(In thousands)
 
TDR
 
$
370
  
$
1,782
 
Non - TDR
  
-
   
1,107
 
Impaired loans with an allocated allowance
        
TDR - allowance based on collateral
  
2,358
   
3,527
 
TDR - allowance based on present value cash flow
  
70,160
   
72,613
 
Non - TDR - allowance based on collateral
  
286
   
491
 
Total impaired loans
 
$
73,174
  
$
79,520
 
         
Amount of allowance for loan losses allocated
        
TDR - allowance based on collateral
 
$
680
  
$
1,868
 
TDR - allowance based on present value cash flow
  
6,901
   
7,146
 
Non - TDR - allowance based on collateral
  
53
   
138
 
Total amount of allowance for loan losses allocated
 
$
7,634
  
$
9,152
 
 
Impaired loans by class  are as follows (1):
 
  
March 31, 2017
  
December 31, 2016
 
    
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
 
$
370
  
$
581
  
$
-
  
$
517
  
$
768
  
$
-
 
Land, land development & construction-real estate
  
-
   
-
   
-
   
31
   
709
   
-
 
Commercial and industrial
  
-
   
-
   
-
   
2,341
   
3,261
   
-
 
Mortgage
                        
1-4 family
  
1
   
384
   
-
   
2
   
387
   
-
 
Resort lending
  
-
   
-
   
-
   
-
   
-
   
-
 
Home equity - 1st lien
  
-
   
-
   
-
   
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
   
-
   
-
   
-
 
Installment
                        
Home equity - 1st lien
  
-
   
73
   
-
   
-
   
66
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
   
-
   
-
   
-
 
Boat lending
  
-
   
-
   
-
   
-
   
-
   
-
 
Recreational vehicle lending
  
-
   
-
   
-
   
-
   
-
   
-
 
Other
  
-
   
-
   
-
   
-
   
-
   
-
 
   
371
   
1,038
   
-
   
2,891
   
5,191
   
-
 
With an allowance recorded:
                        
Commercial
                        
Income producing - real estate
  
7,741
   
7,925
   
603
   
7,737
   
7,880
   
554
 
Land, land development & construction-real estate
  
167
   
872
   
8
   
239
   
244
   
36
 
Commercial and industrial
  
3,295
   
4,341
   
551
   
4,902
   
5,246
   
1,654
 
Mortgage
                        
1-4 family
  
40,098
   
41,850
   
3,740
   
41,701
   
43,479
   
4,100
 
Resort lending
  
16,691
   
16,727
   
2,359
   
16,898
   
16,931
   
2,453
 
Home equity - 1st lien
  
234
   
241
   
28
   
235
   
242
   
10
 
Home equity - 2nd lien
  
192
   
276
   
20
   
315
   
398
   
16
 
Installment
                        
Home equity - 1st lien
  
1,884
   
2,007
   
92
   
1,994
   
2,117
   
118
 
Home equity - 2nd lien
  
2,308
   
2,339
   
205
   
2,415
   
2,443
   
182
 
Boat lending
  
1
   
6
   
-
   
1
   
6
   
-
 
Recreational vehicle lending
  
106
   
105
   
6
   
109
   
108
   
6
 
Other
  
376
   
409
   
22
   
394
   
426
   
23
 
  
73,093
   
77,098
   
7,634
   
76,940
   
79,520
   
9,152
 
Total
                        
Commercial
                        
Income producing - real estate
  
8,111
   
8,506
   
603
   
8,254
   
8,648
   
554
 
Land, land development & construction-real estate
  
167
   
872
   
8
   
270
   
953
   
36
 
Commercial and industrial
  
3,295
   
4,341
   
551
   
7,243
   
8,507
   
1,654
 
Mortgage
                        
1-4 family
  
40,099
   
42,234
   
3,740
   
41,703
   
43,866
   
4,100
 
Resort lending
  
16,691
   
16,727
   
2,359
   
16,898
   
16,931
   
2,453
 
Home equity - 1st lien
  
234
   
241
   
28
   
235
   
242
   
10
 
Home equity - 2nd lien
  
192
   
276
   
20
   
315
   
398
   
16
 
Installment
                        
Home equity - 1st lien
  
1,884
   
2,080
   
92
   
1,994
   
2,183
   
118
 
Home equity - 2nd lien
  
2,308
   
2,339
   
205
   
2,415
   
2,443
   
182
 
Boat lending
  
1
   
6
   
-
   
1
   
6
   
-
 
Recreational vehicle lending
  
106
   
105
   
6
   
109
   
108
   
6
 
Other
  
376
   
409
   
22
   
394
   
426
   
23
 
Total
 
$
73,464
  
$
78,136
  
$
7,634
  
$
79,831
  
$
84,711
  
$
9,152
 
                         
Accrued interest included in recorded investment
 
$
290
          
$
311
         

(1) There were no impaired purchased mortgage loans at March 31, 2017 or December 31, 2016.

Average recorded investment in and interest income earned on impaired loans by class for the three month periods ending March 31, follows (1):
 
  
2017
  
2016
 
    
Average
Recorded
Investment
  
Interest
Income
Recognized
  
Average
Recorded
Investment
  
Interest
Income
Recognized
 
With no related allowance recorded:
 
(In thousands)
 
Commercial
            
Income producing - real estate
 
$
444
  
$
-
  
$
713
  
$
2
 
Land, land development & construction-real estate
  
16
   
-
   
678
   
7
 
Commercial and industrial
  
1,171
   
-
   
1,232
   
21
 
Mortgage
                
1-4 family
  
2
   
4
   
12
   
1
 
Resort lending
  
-
   
-
   
-
   
-
 
Home equity - 1st lien
  
-
   
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
   
-
 
Installment
                
Home equity - 1st lien
  
-
   
1
   
1
   
1
 
Home equity - 2nd lien
  
-
   
-
   
7
   
-
 
Boat lending
  
-
   
-
   
-
   
-
 
Recreational vehicle lending
  
-
   
-
   
-
   
-
 
Other
  
-
   
-
   
-
   
-
 
   
1,633
   
5
   
2,643
   
32
 
With an allowance recorded:
                
Commercial
                
Income producing - real estate
  
7,739
   
105
   
8,306
   
107
 
Land, land development & construction-real estate
  
203
   
2
   
1,587
   
13
 
Commercial and industrial
  
4,099
   
35
   
4,712
   
23
 
Mortgage
                
1-4 family
  
40,900
   
464
   
47,200
   
502
 
Resort lending
  
16,795
   
161
   
18,039
   
160
 
Home equity - 1st lien
  
235
   
2
   
206
   
2
 
Home equity - 2nd lien
  
254
   
2
   
182
   
1
 
Installment
                
Home equity - 1st lien
  
1,939
   
34
   
2,326
   
42
 
Home equity - 2nd lien
  
2,362
   
35
   
2,861
   
44
 
Boat lending
  
1
   
-
   
2
   
-
 
Recreational vehicle lending
  
108
   
1
   
120
   
2
 
Other
  
385
   
7
   
463
   
7
 
   
75,020
   
848
   
86,004
   
903
 
Total
                
Commercial
                
Income producing - real estate
  
8,183
   
105
   
9,019
   
109
 
Land, land development & construction-real estate
  
219
   
2
   
2,265
   
20
 
Commercial and industrial
  
5,270
   
35
   
5,944
   
44
 
Mortgage
                
1-4 family
  
40,902
   
468
   
47,212
   
503
 
Resort lending
  
16,795
   
161
   
18,039
   
160
 
Home equity - 1st lien
  
235
   
2
   
206
   
2
 
Home equity - 2nd lien
  
254
   
2
   
182
   
1
 
Installment
                
Home equity - 1st lien
  
1,939
   
35
   
2,327
   
43
 
Home equity - 2nd lien
  
2,362
   
35
   
2,868
   
44
 
Boat lending
  
1
   
-
   
2
   
-
 
Recreational vehicle lending
  
108
   
1
   
120
   
2
 
Other
  
385
   
7
   
463
   
7
 
Total
 
$
76,653
  
$
853
  
$
88,647
  
$
935
 

(1)
There were no impaired purchased mortgage loans during the three month periods ended March 31, 2017 and 2016, respectively.
 
Our average investment in impaired loans was approximately $76.7 million and $88.6 million for the three-month periods ended March 31, 2017 and 2016, respectively.  Cash receipts on impaired loans on non-accrual status are generally applied to the principal balance.  Interest income recognized on impaired loans during both the three months ending March 31, 2017 and 2016, was approximately $0.9 million.

Troubled debt restructurings follow:

 
March 31, 2017
 
 Commercial  
Retail (1)
  
Total
 
 
(In thousands)
 
Performing TDRs
 
$
10,206
  
$
57,544
  
$
67,750
 
Non-performing TDRs(2)
  
1,039
   
4,099
(3) 
  
5,138
 
Total
 
$
11,245
  
$
61,643
  
$
72,888
 
 
 
December 31, 2016
 
 
Commercial
  
Retail (1)
  
Total
 
 
(In thousands)
 
Performing TDRs
 
$
10,560
  
$
59,726
  
$
70,286
 
Non-performing TDRs(2)
  
3,565
   
4,071
(3) 
  
7,636
 
Total
 
$
14,125
  
$
63,797
  
$
77,922
 

(1)
Retail loans include mortgage and installment loan segments.
(2)
Included in non-performing loans table above.
(3)
Also includes loans on non-accrual at the time of modification until six payments are received on a timely basis.

We allocated $7.6 million and $9.0 million of specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of March 31, 2017 and December 31, 2016, respectively.

During the three months ended March 31, 2017 and 2016, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans generally included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan.

Modifications involving a reduction of the stated interest rate of the loan have generally been for periods ranging from 9 months to 36 months but have extended to as much as 480 months in certain circumstances. Modifications involving an extension of the maturity date have generally been for periods ranging from 1 month to 60 months but have extended to as much as 230 months in certain circumstances.
 
Loans that have been classified as troubled debt restructurings during the three-month periods ended March 31 follow(1):

    
Number of
Contracts
  
Pre-modification
Recorded
Balance
  
Post-modification
Recorded
Balance
 
  
(Dollars in thousands)
 
2017
         
Commercial
         
Income producing - real estate
  
-
  
$
-
  
$
-
 
Land, land development & construction-real estate
  
-
   
-
   
-
 
Commercial and industrial
  
3
   
133
   
133
 
Mortgage
            
1-4 family
  
1
   
17
   
17
 
Resort lending
  
1
   
189
   
189
 
Home equity - 1st lien
  
-
   
-
   
-
 
Home equity - 2nd lien
  
-
   
-
   
-
 
Installment
            
Home equity - 1st lien
  
2
   
34
   
37
 
Home equity - 2nd lien
  
2
   
45
   
46
 
Boat lending
  
-
   
-
   
-
 
Recreational vehicle lending
  
-
   
-
   
-
 
Other
  
-
   
-
   
-
 
Total
  
9
  
$
418
  
$
422
 
             
2016
            
Commercial
            
Income producing - real estate
  
2
  
$
110
  
$
110
 
Land, land development & construction-real estate
  
-
   
-
   
-
 
Commercial and industrial
  
4
   
1,758
   
1,758
 
Mortgage
            
1-4 family
  
2
   
83
   
153
 
Resort lending
  
1
   
116
   
117
 
Home equity - 1st lien
  
1
   
107
   
78
 
Home equity - 2nd lien
  
-
   
-
   
-
 
Installment
            
Home equity - 1st lien
  
1
   
30
   
31
 
Home equity - 2nd lien
  
2
   
55
   
56
 
Boat lending
  
-
   
-
   
-
 
Recreational vehicle lending
  
-
   
-
   
-
 
Other
  
-
   
-
   
-
 
Total
  
13
  
$
2,259
  
$
2,303
 

(1)
There were no purchased mortgage loans classified as troubled debt restructurings during the three month periods ended March 31, 2017 and 2016, respectively.

The troubled debt restructurings described above for 2017 increased the allowance for loan losses by $0.05 million and resulted in zero charge offs while the troubled debt restructurings described above for 2016 increased the allowance for loan losses by $0.06 million and resulted in zero charge offs.
 
A loan is considered to be in payment default generally once it is 90 days contractually past due under the modified terms.

There were no troubled debt restructurings that subsequently defaulted within twelve months following the modification during the three months ended March 31, 2017 or 2016.

In order to determine whether a borrower is experiencing financial difficulty, we perform an evaluation of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under our internal underwriting policy.

Credit Quality Indicators – As part of our on on-going monitoring of the credit quality of our loan portfolios, we track certain credit quality indicators including (a) weighted-average risk grade of commercial loans, (b) the level of classified commercial loans, (c) credit scores of mortgage and installment loan borrowers, and (d) delinquency history and non-performing loans.

For commercial loans, we use a loan rating system that is similar to those employed by state and federal banking regulators. Loans are graded on a scale of 1 to 12. A description of the general characteristics of the ratings follows:

Rating 1 through 6: These loans are generally referred to as our “non-watch” commercial credits that include very high or exceptional credit fundamentals through acceptable credit fundamentals.

Rating 7 and 8: These loans are generally referred to as our “watch” commercial credits. This rating includes loans to borrowers that exhibit potential credit weakness or downward trends. If not checked or cured these trends could weaken our asset or credit position. While potentially weak, no loss of principal or interest is envisioned with these ratings.

Rating 9: These loans are generally referred to as our “substandard accruing” commercial credits. This rating includes loans to borrowers that exhibit a well-defined weakness where payment default is probable and loss is possible if deficiencies are not corrected. Generally, loans with this rating are considered collectible as to both principal and interest primarily due to collateral coverage.

Rating 10 and 11: These loans are generally referred to as our “substandard - non-accrual” and “doubtful” commercial credits, respectively. These ratings include loans to borrowers with weaknesses that make collection of debt in full, on the basis of current facts, conditions and values at best questionable and at worst improbable. All of these loans are placed in non-accrual.

Rating 12: These loans are generally referred to as our “loss” commercial credits. This rating includes loans to borrowers that are deemed incapable of repayment and are charged-off.
 
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)
 
March 31, 2017
               
Income producing - real estate
 
$
277,648
  
$
3,407
  
$
411
  
$
579
  
$
282,045
 
Land, land development and construction - real estate
  
53,578
   
67
   
-
   
4
   
53,649
 
Commercial and industrial
  
468,378
   
9,786
   
2,856
   
742
   
481,762
 
Total
 
$
799,604
  
$
13,260
  
$
3,267
  
$
1,325
  
$
817,456
 
Accrued interest included in total
 
$
1,912
  
$
45
  
$
15
  
$
-
  
$
1,972
 
                     
December 31, 2016
                    
Income producing - real estate
 
$
282,886
  
$
3,787
  
$
337
  
$
628
  
$
287,638
 
Land, land development and construction - real estate
  
51,603
   
67
   
-
   
105
   
51,775
 
Commercial and industrial
  
449,365
   
9,788
   
2,998
   
4,431
   
466,582
 
Total
 
$
783,854
  
$
13,642
  
$
3,335
  
$
5,164
  
$
805,995
 
Accrued interest included in total
 
$
1,915
  
$
52
  
$
11
  
$
-
  
$
1,978
 
 
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)
 
March 31, 2017
                  
800 and above
 
$
38,929
  
$
10,347
  
$
6,716
  
$
7,846
  
$
8,420
  
$
72,258
 
750-799
  
124,778
   
40,569
   
10,926
   
16,893
   
20,309
   
213,475
 
700-749
  
86,342
   
24,152
   
6,176
   
10,568
   
8,646
   
135,884
 
650-699
  
58,861
   
13,542
   
4,012
   
7,058
   
435
   
83,908
 
600-649
  
26,474
   
5,143
   
1,602
   
3,115
   
-
   
36,334
 
550-599
  
13,199
   
3,006
   
453
   
1,635
   
-
   
18,293
 
500-549
  
8,815
   
1,397
   
482
   
963
   
-
   
11,657
 
Under 500
  
4,976
   
91
   
256
   
276
   
-
   
5,599
 
Unknown
  
3,212
   
1,696
   
314
   
633
   
131
   
5,986
 
Total
 
$
365,586
  
$
99,943
  
$
30,937
  
$
48,987
  
$
37,941
  
$
583,394
 
Accrued interest included in total
 
$
1,535
  
$
381
  
$
123
  
$
213
  
$
112
  
$
2,364
 
                          
December 31, 2016
                        
800 and above
 
$
36,534
  
$
10,484
  
$
6,048
  
$
8,392
  
$
8,462
  
$
69,920
 
750-799
  
102,382
   
41,999
   
10,006
   
20,113
   
20,984
   
195,484
 
700-749
  
69,337
   
24,727
   
5,706
   
12,360
   
9,115
   
121,245
 
650-699
  
50,621
   
13,798
   
4,106
   
8,167
   
437
   
77,129
 
600-649
  
25,270
   
5,769
   
1,674
   
3,067
   
-
   
35,780
 
550-599
  
13,747
   
3,030
   
455
   
1,699
   
-
   
18,931
 
500-549
  
9,215
   
1,438
   
486
   
981
   
-
   
12,120
 
Under 500
  
5,145
   
92
   
255
   
279
   
-
   
5,771
 
Unknown
  
2,290
   
1,711
   
280
   
179
   
139
   
4,599
 
Total
 
$
314,541
  
$
103,048
  
$
29,016
  
$
55,237
  
$
39,137
  
$
540,979
 
Accrued interest included in total
 
$
1,466
  
$
450
  
$
111
  
$
226
  
$
111
  
$
2,364
 
 
(1)
Credit scores have been updated within the last twelve months.
 
  
Installment(1)
 
 
Home
Equity
1st Lien
  
Home
Equity
2nd Lien
  
Boat Lending
  
Recreational
Vehicle
Lending
  
Other
  
Total
 
  
(In thousands)
 
March 31, 2017
                  
800 and above
 
$
1,235
  
$
1,370
  
$
22,038
  
$
22,843
  
$
8,589
  
$
56,075
 
750-799
  
2,340
   
3,007
   
54,385
   
39,161
   
22,303
   
121,196
 
700-749
  
1,766
   
2,448
   
21,100
   
11,977
   
14,073
   
51,364
 
650-699
  
2,731
   
2,390
   
7,506
   
3,433
   
8,905
   
24,965
 
600-649
  
1,611
   
1,612
   
1,579
   
781
   
2,198
   
7,781
 
550-599
  
1,160
   
973
   
813
   
251
   
777
   
3,974
 
500-549
  
887
   
629
   
343
   
181
   
417
   
2,457
 
Under 500
  
110
   
214
   
56
   
16
   
156
   
552
 
Unknown
  
28
   
-
   
223
   
125
   
6,264
   
6,640
 
Total
 
$
11,868
  
$
12,643
  
$
108,043
  
$
78,768
  
$
63,682
  
$
275,004
 
Accrued interest included in total
 
$
51
  
$
52
  
$
267
  
$
205
  
$
196
  
$
771
 
                          
December 31, 2016
                        
800 and above
 
$
1,354
  
$
1,626
  
$
21,422
  
$
23,034
  
$
8,911
  
$
56,347
 
750-799
  
2,478
   
3,334
   
50,508
   
35,827
   
21,918
   
114,065
 
700-749
  
1,920
   
2,686
   
20,045
   
11,049
   
13,183
   
48,883
 
650-699
  
2,852
   
2,541
   
7,559
   
3,205
   
8,913
   
25,070
 
600-649
  
1,691
   
1,775
   
1,846
   
821
   
2,269
   
8,402
 
550-599
  
1,231
   
1,063
   
882
   
280
   
833
   
4,289
 
500-549
  
981
   
692
   
440
   
189
   
511
   
2,813
 
Under 500
  
114
   
220
   
73
   
16
   
211
   
634
 
Unknown
  
29
   
21
   
150
   
114
   
5,570
   
5,884
 
Total
 
$
12,650
  
$
13,958
  
$
102,925
  
$
74,535
  
$
62,319
  
$
266,387
 
Accrued interest included in total
 
$
54
  
$
59
  
$
264
  
$
203
  
$
191
  
$
771
 
 
(1)
Credit scores have been updated within the last twelve months.

Foreclosed residential real estate properties included in other real estate and repossessed assets on our Condensed Consolidated Statements of Financial Condition totaled $2.2 million and $1.9 million at March 31, 2017 and December 31, 2016, respectively.  Retail mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process according to local requirements totaled $1.1 million and $1.0 million at  March 31, 2017 and December 31, 2016, respectively.