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Loans and Allowance for Credit Losses
 9 Months Ended
Sep. 30, 2018
Receivables [Abstract]  
Loans and Allowance for Credit Losses
Loans and Allowance for Credit Losses

Loans, Net of Unearned Income

Loans, net of unearned income are summarized as follows:
 
September 30,
2018
 
December 31, 2017
 
(in thousands)
Real-estate - commercial mortgage
$
6,337,984

 
$
6,364,804

Commercial - industrial, financial and agricultural
4,288,823

 
4,300,297

Real-estate - residential mortgage
2,173,548

 
1,954,711

Real-estate - home equity
1,469,152

 
1,559,719

Real-estate - construction
979,857

 
1,006,935

Consumer
390,708

 
313,783

Leasing and other
312,207

 
291,556

Overdrafts
2,047

 
4,113

Loans, gross of unearned income
15,954,326

 
15,795,918

Unearned income
(29,233
)
 
(27,671
)
Loans, net of unearned income
$
15,925,093

 
$
15,768,247



The Corporation segments its loan portfolio by general loan type, or "portfolio segments," as presented in the table under the heading, "Loans, Net of Unearned Income," above. Certain portfolio segments are further disaggregated and evaluated collectively for impairment based on "class segments," which are largely based on the type of collateral underlying each loan. Commercial loans include both secured and unsecured loans. Construction loan class segments include loans secured by commercial real estate, loans to commercial borrowers secured by residential real estate and loans to individuals secured by residential real estate. Consumer loan class segments include direct consumer installment loans and indirect vehicle loans.


Allowance for Credit Losses

The allowance for credit losses consists of the allowance for loan losses and the reserve for unfunded lending commitments. The allowance for loan losses represents management’s estimate of incurred losses in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The reserve for unfunded lending commitments represents management’s estimate of incurred losses in its unfunded loan commitments and letters of credit and is recorded in other liabilities on the consolidated balance sheets. The allowance for credit losses is increased by charges to expense, through the provision for credit losses, and decreased by charge-offs, net of recoveries.

The Corporation’s allowance for credit losses includes: (1) specific allowances allocated to loans individually evaluated for impairment (FASB ASC Section 310-10-35); and (2) allowances calculated for pools of loans collectively evaluated for impairment (FASB ASC Subtopic 450-20).

The following table presents the components of the allowance for credit losses:
 
September 30,
2018
 
December 31,
2017
 
(in thousands)
Allowance for loan losses
$
157,810

 
$
169,910

Reserve for unfunded lending commitments
10,016

 
6,174

Allowance for credit losses
$
167,826

 
$
176,084



The following table presents the activity in the allowance for credit losses:
 
Three months ended September 30
 
Nine months ended September 30
 
2018
 
2017
 
2018
 
2017
 
(in thousands)
Balance at beginning of period
$
169,247

 
$
174,998

 
$
176,084

 
$
171,325

Loans charged off
(6,883
)
 
(7,795
)
 
(55,440
)
 
(25,917
)
Recoveries of loans previously charged off
3,842

 
2,471

 
8,475

 
12,766

Net loans charged off
(3,041
)
 
(5,324
)
 
(46,965
)
 
(13,151
)
Provision for credit losses
1,620

 
5,075

 
38,707

 
16,575

Balance at end of period
$
167,826

 
$
174,749

 
$
167,826

 
$
174,749


Included in the provision for credit losses for the nine months ended September 30, 2018 was a $36.8 million provision related to a single, large commercial lending relationship ("Commercial Relationship"). In addition, loans charged off for the same period included a $33.9 million charge-off related to the Commercial Relationship.

The Corporation had historically maintained an unallocated allowance for credit losses for factors and conditions that existed at the balance sheet date, but were not specifically identifiable, and to recognize the inherent imprecision in estimating and measuring loss exposure. In the second quarter of 2017, enhancements were made to allow for the impact of these factors and conditions to be quantified in the allowance allocation process. Accordingly, an unallocated allowance for credit losses is no longer necessary.













The following table presents the activity in the allowance for loan losses by portfolio segment:
 
Real Estate -
Commercial
Mortgage
 
Commercial -
Industrial,
Financial and
Agricultural
 
Real Estate -
Home
Equity
 
Real Estate -
Residential
Mortgage
 
Real Estate -
Construction
 
Consumer
 
Leasing, other
and
overdrafts
 
Unallocated
 
Total
 
(in thousands)
Three months ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at June 30, 2018
$
56,583

 
$
59,045

 
$
16,247

 
$
14,504

 
$
5,988

 
$
1,699

 
$
1,984

 
$
—

 
$
156,050

Loans charged off
(650
)
 
(3,541
)
 
(743
)
 
(483
)
 
(212
)
 
(672
)
 
(582
)
 
—

 
(6,883
)
Recoveries of loans previously charged off
928

 
731

 
217

 
317

 
664

 
390

 
595

 
—

 
3,842

Net loans charged off
278

 
(2,810
)
 
(526
)
 
(166
)
 
452

 
(282
)
 
13

 
—

 
(3,041
)
Provision for loan losses (1)
(2,750
)
 
(301
)
 
2,890

 
3,774

 
(961
)
 
1,429

 
720

 
—

 
4,801

Balance at September 30, 2018
$
54,111

 
$
55,934

 
$
18,611

 
$
18,112

 
$
5,479

 
$
2,846

 
$
2,717

 
$
—

 
$
157,810

Three months ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at June 30, 2017
$
57,372

 
$
67,642

 
$
17,456

 
$
16,439

 
$
9,534

 
$
1,794

 
$
2,105

 
$
—

 
$
172,342

Loans charged off
(483
)
 
(2,714
)
 
(547
)
 
(195
)
 
(2,744
)
 
(373
)
 
(739
)
 
—

 
(7,795
)
Recoveries of loans previously charged off
106

 
665

 
252

 
219

 
629

 
193

 
407

 
—

 
2,471

Net loans charged off
(377
)
 
(2,049
)
 
(295
)
 
24

 
(2,115
)
 
(180
)
 
(332
)
 
—

 
(5,324
)
Provision for loan losses (1)
(2,008
)
 
5,392

 
1,297

 
220

 
(283
)
 
383

 
226

 
—

 
5,227

Balance at September 30, 2017
$
54,987

 
$
70,985

 
$
18,458

 
$
16,683

 
$
7,136

 
$
1,997

 
$
1,999

 
$
—

 
$
172,245

Nine months ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2017
$
58,793

 
$
66,280

 
$
18,127

 
$
16,088

 
$
6,620

 
$
2,045

 
$
1,957

 
$
—

 
$
169,910

Loans charged off
(1,283
)
 
(46,178
)
 
(1,967
)
 
(1,128
)
 
(976
)
 
(2,276
)
 
(1,632
)
 
—

 
(55,440
)
Recoveries of loans previously charged off
1,528

 
2,347

 
694

 
520

 
1,414

 
1,015

 
957

 
—

 
8,475

Net loans charged off
245

 
(43,831
)
 
(1,273
)
 
(608
)
 
438

 
(1,261
)
 
(675
)
 
—

 
(46,965
)
Provision for loan losses (1)
(4,927
)
 
33,485

 
1,757

 
2,632

 
(1,579
)
 
2,062

 
1,435

 
—

 
34,865

Balance at September 30, 2018
$
54,111

 
$
55,934

 
$
18,611

 
$
18,112

 
$
5,479

 
$
2,846

 
$
2,717

 
$
—

 
$
157,810

Nine months ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2016
$
46,842

 
$
54,353

 
$
26,801

 
$
22,929

 
$
6,455

 
$
3,574

 
$
3,192

 
$
4,533

 
$
168,679

Loans charged off
(1,949
)
 
(13,594
)
 
(1,837
)
 
(535
)
 
(3,765
)
 
(1,659
)
 
(2,578
)
 
—

 
(25,917
)
Recoveries of loans previously charged off
1,490

 
6,830

 
604

 
600

 
1,550

 
899

 
793

 
—

 
12,766

Net loans charged off
(459
)
 
(6,764
)
 
(1,233
)
 
65

 
(2,215
)
 
(760
)
 
(1,785
)
 
—

 
(13,151
)
Provision for loan losses (1)
8,604

 
23,396

 
(7,110
)
 
(6,311
)
 
2,896

 
(817
)
 
592

 
(4,533
)
 
16,717

Balance at September 30, 2017
$
54,987

 
$
70,985

 
$
18,458

 
$
16,683

 
$
7,136

 
$
1,997

 
$
1,999

 
$
—

 
$
172,245


(1)
The provision for loan losses excluded a $3.2 million decrease and a $3.8 million increase in the reserve for unfunded lending commitments for the three and nine months ended September 30, 2018, respectively, and a $152,000 and a $142,000 increase in the reserve for unfunded lending commitments for the three and nine months ended September 30, 2017, respectively. These amounts were reclassified to other liabilities on the consolidated balance sheets.
























The following table presents loans, net of unearned income and their related allowance for loan losses, by portfolio segment:
 
Real Estate -
Commercial
Mortgage
 
Commercial -
Industrial,
Financial and
Agricultural
 
Real Estate -
Home
Equity
 
Real Estate -
Residential
Mortgage
 
Real Estate -
Construction
 
Consumer
 
Leasing, other
and
overdrafts
 
Total
 
(in thousands)
Allowance for loan losses at September 30, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
Loans collectively evaluated for impairment
$
46,812

 
$
47,028

 
$
7,856

 
$
8,369

 
$
4,718

 
$
2,841

 
$
2,717

 
$
120,341

Loans individually evaluated for impairment
7,299

 
8,906

 
10,755

 
9,743

 
761

 
5

 
—

 
37,469

 
$
54,111

 
$
55,934

 
$
18,611

 
$
18,112

 
$
5,479

 
$
2,846

 
$
2,717

 
$
157,810

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans, net of unearned income at September 30, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
Loans collectively evaluated for impairment
$
6,290,143

 
$
4,235,953

 
$
1,444,898

 
$
2,133,718

 
$
971,167

 
$
390,700

 
$
285,021

 
$
15,751,600

Loans individually evaluated for impairment
47,841

 
52,870

 
24,254

 
39,830

 
8,690

 
8

 
—

 
173,493

 
$
6,337,984

 
$
4,288,823

 
$
1,469,152

 
$
2,173,548

 
$
979,857

 
$
390,708

 
$
285,021

 
$
15,925,093

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at September 30, 2017:
 
 
 
 
 
 
 
 
 
 
 
 
Loans collectively evaluated for impairment
$
47,261

 
$
55,486

 
$
7,632

 
$
6,488

 
$
5,702

 
$
1,976

 
$
1,999

 
$
126,544

Loans individually evaluated for impairment
7,726

 
15,499

 
10,826

 
10,195

 
1,434

 
21

 
—

 
45,701

 
$
54,987

 
$
70,985

 
$
18,458

 
$
16,683

 
$
7,136

 
$
1,997

 
$
1,999

 
$
172,245

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans, net of unearned income at September 30, 2017:
 
 
 
 
 
 
 
 
 
 
 
 
Loans collectively evaluated for impairment
$
6,228,935

 
$
4,162,857

 
$
1,543,551

 
$
1,845,329

 
$
959,584

 
$
302,415

 
$
257,748

 
$
15,300,419

Loans individually evaluated for impairment
46,205

 
60,218

 
23,922

 
42,578

 
13,524

 
33

 
—

 
186,480

 
$
6,275,140

 
$
4,223,075

 
$
1,567,473

 
$
1,887,907

 
$
973,108

 
$
302,448

 
$
257,748

 
$
15,486,899



Impaired Loans

A loan is considered to be impaired if it is probable that all amounts will not be collected according to the contractual terms of the loan agreement. Impaired loans consist of all loans on non-accrual status and accruing troubled debt restructurings ("TDRs"). An allowance for loan losses is established for an impaired loan if its carrying value exceeds its estimated fair value. Impaired loans to borrowers with total commitments greater than or equal to $1.0 million are evaluated individually for impairment. Impaired loans to borrowers with total commitments less than $1.0 million are pooled and measured for impairment collectively.

All loans individually evaluated for impairment are measured for losses on a quarterly basis. As of September 30, 2018 and December 31, 2017, substantially all of the Corporation’s individually evaluated impaired loans with total commitments greater than or equal to $1.0 million were measured based on the estimated fair value of each loan’s collateral. Collateral could be in the form of real estate, in the case of impaired commercial mortgages and construction loans, or business assets, such as accounts receivable or inventory, in the case of commercial and industrial loans. Commercial and industrial loans may also be secured by real estate.

As of September 30, 2018 and December 31, 2017, approximately 93% and 94%, respectively, of impaired loans with principal balances greater than or equal to $1.0 million, whose primary collateral is real estate, were measured at estimated fair value of the collateral using appraisals that had been updated in the preceding 12 months, performed by state certified third-party appraisers.

When updated appraisals are not obtained for loans evaluated for impairment that are secured by real estate, fair values are estimated based on the original appraisal values, as long as the original appraisal indicated an acceptable loan-to-value position and, in the opinion of the Corporation's internal credit administration staff, there has not been a significant deterioration in the collateral value since the original appraisal was performed. Original appraisals are typically used only when the estimated collateral value, as adjusted for the age of the appraisal, results in a current loan-to-value ratio that is lower than the Corporation's loan-to-value requirements for new loans (generally less than 70%).





The following table presents total impaired loans by class segment:
 
September 30, 2018
 
December 31, 2017
 
Unpaid
Principal
Balance
 
Recorded
Investment
 
Related
Allowance
 
Unpaid
Principal
Balance
 
Recorded
Investment
 
Related
Allowance
 
(in thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
$
27,298

 
$
25,665

 
$
—

 
$
26,728

 
$
22,886

 
$
—

Commercial
64,150

 
33,552

 
—

 
44,936

 
39,550

 
—

Real estate - residential mortgage
3,171

 
3,170

 
—

 
4,575

 
4,575

 
—

Construction
10,146

 
6,476

 
—

 
12,477

 
8,100

 
—

 
104,765

 
68,863

 
—

 
88,716

 
75,111

 
—

With a related allowance recorded:
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
28,584

 
22,176

 
7,299

 
33,710

 
25,895

 
8,112

Commercial
24,530

 
19,318

 
8,906

 
29,816

 
24,175

 
11,406

Real estate - home equity
27,731

 
24,254

 
10,755

 
28,282

 
24,693

 
11,124

Real estate - residential mortgage
41,772

 
36,660

 
9,743

 
42,597

 
37,132

 
9,895

Construction
5,874

 
2,214

 
761

 
7,308

 
4,097

 
967

Consumer
8

 
8

 
5

 
26

 
26

 
17

 
128,499

 
104,630

 
37,469

 
141,739

 
116,018

 
41,521

Total
$
233,264

 
$
173,493

 
$
37,469

 
$
230,455

 
$
191,129

 
$
41,521


As of September 30, 2018 and December 31, 2017, there were $68.9 million and $75.1 million, respectively, of impaired loans that did not have a related allowance for loan loss. The estimated fair values of the collateral securing these loans exceeded their carrying amount, or the loans were previously charged down to realizable collateral values. Accordingly, no specific valuation allowance was considered to be necessary.
The following table presents average impaired loans by class segment:
 
Three months ended September 30
 
Nine months ended September 30
 
2018
 
2017
 
2018
 
2017
 
Average
Recorded
Investment
 
Interest
Income (1)
 
Average
Recorded
Investment
 
Interest
Income (1)
 
Average
Recorded
Investment
 
Interest
Income (1)
 
Average
Recorded
Investment
 
Interest
Income (1)
 
(in thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
$
26,051

 
$
94

 
$
21,698

 
$
72

 
$
25,702

 
$
274

 
$
22,770

 
$
213

Commercial
30,157

 
66

 
33,044

 
46

 
35,098

 
208

 
29,309

 
128

Real estate - residential mortgage
3,182

 
20

 
4,616

 
27

 
3,872

 
71

 
4,645

 
79

Construction
6,845

 
—

 
9,042

 
5

 
7,408

 
—

 
7,043

 
11

 
66,235

 
180

 
68,400

 
150

 
72,080

 
553

 
63,767

 
431

With a related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
23,734

 
85

 
25,910

 
86

 
24,727

 
260

 
27,518

 
259

Commercial
23,687

 
51

 
25,152

 
34

 
23,934

 
149

 
24,097

 
97

Real estate - home equity
24,628

 
202

 
22,837

 
150

 
24,690

 
581

 
20,957

 
362

Real estate - residential mortgage
36,396

 
227

 
38,329

 
225

 
36,578

 
671

 
39,584

 
680

Construction
2,061

 
—

 
6,251

 
4

 
2,778

 
—

 
6,677

 
11

Consumer
10

 
—

 
34

 
—

 
18

 
—

 
36

 
—

Leasing, other and overdrafts
—

 
—

 
—

 
—

 
—

 
—

 
356

 
—

 
110,516

 
565

 
118,513

 
499

 
112,725

 
1,661

 
119,225

 
1,409

Total
$
176,751

 
$
745

 
$
186,913

 
$
649

 
$
184,805

 
$
2,214

 
$
182,992

 
$
1,840

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
All impaired loans, excluding accruing TDRs, were non-accrual loans. Interest income recognized for the three and nine months ended September 30, 2018 and 2017 represents amounts earned on accruing TDRs.


Credit Quality Indicators and Non-performing Assets

The following is a summary of the Corporation's internal risk rating categories:
•
Pass: These loans do not currently pose undue credit risk and can range from the highest to average quality, depending on the degree of potential risk.
•
Special Mention: These loans constitute an undue and unwarranted credit risk, but not to a point of justifying a classification of substandard. Loans in this category are currently acceptable, but are nevertheless potentially weak.
•
Substandard or Lower: These loans are inadequately protected by current sound worth and paying capacity of the borrower. There exists a well-defined weakness or weaknesses that jeopardize the normal repayment of the debt.

The risk rating process allows management to identify credits that potentially carry more risk in a timely manner and to allocate resources to managing troubled accounts. The Corporation believes that internal risk ratings are the most relevant credit quality indicator for the class segments presented in the preceding tables. The migration of loans through the various internal risk rating categories is a significant component of the allowance for credit loss methodology, which bases the probability of default on this migration. Assigning risk ratings involves judgment. The Corporation's loan review officers provide an independent assessment of risk rating accuracy. Ratings may be changed based on the ongoing monitoring procedures performed by loan officers or credit administration staff, or if specific loan review activities identify a deterioration or an improvement in the loan.
The following table presents internal credit risk ratings for the indicated loan class segments:
 
Pass
 
Special Mention
 
Substandard or Lower
 
Total
 
September 30, 2018
 
December 31, 2017
 
September 30, 2018
 
December 31, 2017
 
September 30, 2018
 
December 31, 2017
 
September 30, 2018
 
December 31, 2017
 
(dollars in thousands)
Real estate - commercial mortgage
$
6,032,828

 
$
6,066,396

 
$
170,362

 
$
147,604

 
$
134,794

 
$
150,804

 
$
6,337,984

 
$
6,364,804

Commercial - secured
3,839,283

 
3,831,485

 
150,310

 
121,842

 
138,604

 
179,113

 
4,128,197

 
4,132,440

Commercial - unsecured
152,796

 
159,620

 
3,898

 
5,478

 
3,932

 
2,759

 
160,626

 
167,857

Total commercial - industrial, financial and agricultural
3,992,079

 
3,991,105

 
154,208

 
127,320

 
142,536

 
181,872

 
4,288,823

 
4,300,297

Construction - commercial residential
120,249

 
143,759

 
7,677

 
5,259

 
8,379

 
14,084

 
136,305

 
163,102

Construction - commercial
756,477

 
761,218

 
552

 
846

 
3,616

 
3,752

 
760,645

 
765,816

Total construction (excluding Construction - other)
876,726

 
904,977

 
8,229

 
6,105

 
11,995

 
17,836

 
896,950

 
928,918

 
$
10,901,633

 
$
10,962,478

 
$
332,799

 
$
281,029

 
$
289,325

 
$
350,512

 
$
11,523,757

 
$
11,594,019

% of Total
94.6
%
 
94.6
%
 
2.9
%
 
2.4
%
 
2.5
%
 
3.0
%
 
100.0
%
 
100.0
%


The Corporation does not assign internal risk ratings to smaller balance, homogeneous loans, such as home equity, residential mortgage, construction loans to individuals secured by residential real estate, consumer and lease receivables. For these loans, the most relevant credit quality indicator is delinquency status. The migration of loans through the various delinquency status categories is a significant component of the allowance for credit losses methodology for those loans, which bases the probability of default on this migration.

The following table presents a summary of performing, delinquent and non-performing loans for the indicated loan class segments:
 
Performing
 
Delinquent (1)
 
Non-performing (2)
 
Total
 
September 30, 2018
 
December 31, 2017
 
September 30, 2018
 
December 31, 2017
 
September 30, 2018
 
December 31, 2017
 
September 30, 2018
 
December 31, 2017
 
(dollars in thousands)
Real estate - home equity
$
1,447,184

 
$
1,535,557

 
$
11,886

 
$
12,655

 
$
10,082

 
$
11,507

 
$
1,469,152

 
$
1,559,719

Real estate - residential mortgage
2,131,239

 
1,914,888

 
23,233

 
18,852

 
19,076

 
20,971

 
2,173,548

 
1,954,711

Construction - other
82,417

 
77,403

 
—

 
203

 
490

 
411

 
82,907

 
78,017

Consumer - direct
58,259

 
54,828

 
311

 
315

 
60

 
70

 
58,630

 
55,213

Consumer - indirect
328,423

 
254,663

 
3,435

 
3,681

 
220

 
226

 
332,078

 
258,570

Total consumer
386,682

 
309,491

 
3,746

 
3,996

 
280

 
296

 
390,708

 
313,783

Leasing, other and overdrafts
282,812

 
267,111

 
2,119

 
855

 
90

 
32

 
285,021

 
267,998

 
$
4,330,334

 
$
4,104,450

 
$
40,984

 
$
36,561

 
$
30,018

 
$
33,217

 
$
4,401,336

 
$
4,174,228

% of Total
98.4
%
 
98.3
%
 
0.9
%
 
0.9
%
 
0.7
%
 
0.8
%
 
100.0
%
 
100.0
%

(1)
Includes all accruing loans 30 days to 89 days past due.
(2)
Includes all accruing loans 90 days or more past due and all non-accrual loans.
The following table presents non-performing assets:
 
September 30,
2018
 
December 31,
2017
 
(in thousands)
Non-accrual loans
$
106,433

 
$
124,749

Loans 90 days or more past due and still accruing
13,663

 
10,010

Total non-performing loans
120,096

 
134,759

Other real estate owned (OREO)
10,684

 
9,823

Total non-performing assets
$
130,780

 
$
144,582



The following tables present past due status and non-accrual loans by portfolio segment and class segment:
 
September 30, 2018
 
30-59
Days Past
Due
 
60-89
Days Past
Due
 
≥ 90 Days
Past Due
and
Accruing
 
Non-
accrual
 
Total ≥ 90
Days
 
Total Past
Due
 
Current
 
Total
 
(in thousands)
Real estate - commercial mortgage
$
12,129

 
$
1,599

 
$
5,242

 
$
32,151

 
$
37,393

 
$
51,121

 
$
6,286,863

 
$
6,337,984

Commercial - secured
6,705

 
1,218

 
835

 
41,327

 
42,162

 
50,085

 
4,078,112

 
4,128,197

Commercial - unsecured
357

 
437

 
29

 
1,200

 
1,229

 
2,023

 
158,603

 
160,626

Total commercial - industrial, financial and agricultural
7,062

 
1,655

 
864

 
42,527

 
43,391

 
52,108

 
4,236,715

 
4,288,823

Real estate - home equity
9,383

 
2,503

 
2,037

 
8,045

 
10,082

 
21,968

 
1,447,184

 
1,469,152

Real estate - residential mortgage
17,731

 
5,502

 
4,056

 
15,020

 
19,076

 
42,309

 
2,131,239

 
2,173,548

Construction - commercial residential
157

 
225

 
896

 
8,379

 
9,275

 
9,657

 
126,648

 
136,305

Construction - commercial
—

 
—

 
—

 
19

 
19

 
19

 
760,626

 
760,645

Construction - other
—

 
—

 
198

 
292

 
490

 
490

 
82,417

 
82,907

Total real estate - construction
157

 
225

 
1,094

 
8,690

 
9,784

 
10,166

 
969,691

 
979,857

Consumer - direct
225

 
86

 
60

 
—

 
60

 
371

 
58,259

 
58,630

Consumer - indirect
2,903

 
532

 
220

 
—

 
220

 
3,655

 
328,423

 
332,078

Total consumer
3,128

 
618

 
280

 
—

 
280

 
4,026

 
386,682

 
390,708

Leasing, other and overdrafts
1,739

 
380

 
90

 
—

 
90

 
2,209

 
282,812

 
285,021

Total
$
51,329

 
$
12,482

 
$
13,663

 
$
106,433

 
$
120,096

 
$
183,907

 
$
15,741,186

 
$
15,925,093

 
December 31, 2017
 
30-59
Days Past
Due
 
60-89
Days Past
Due
 
≥ 90 Days
Past Due
and
Accruing
 
Non-
accrual
 
Total ≥ 90
Days
 
Total Past
Due
 
Current
 
Total
 
(in thousands)
Real estate - commercial mortgage
$
9,456

 
$
4,223

 
$
625

 
$
34,822

 
$
35,447

 
$
49,126

 
$
6,315,678

 
$
6,364,804

Commercial - secured
4,778

 
5,254

 
1,360

 
52,255

 
53,615

 
63,647

 
4,068,793

 
4,132,440

Commercial - unsecured
305

 
10

 
45

 
649

 
694

 
1,009

 
166,848

 
167,857

Total commercial - industrial, financial and agricultural
5,083

 
5,264

 
1,405

 
52,904

 
54,309

 
64,656

 
4,235,641

 
4,300,297

Real estate - home equity
9,640

 
3,015

 
2,372

 
9,135

 
11,507

 
24,162

 
1,535,557

 
1,559,719

Real estate - residential mortgage
11,961

 
6,891

 
5,280

 
15,691

 
20,971

 
39,823

 
1,914,888

 
1,954,711

Construction - commercial residential
—

 
439

 
—

 
11,767

 
11,767

 
12,206

 
150,896

 
163,102

Construction - commercial
483

 
—

 
—

 
19

 
19

 
502

 
765,314

 
765,816

Construction - other
203

 
—

 
—

 
411

 
411

 
614

 
77,403

 
78,017

Total real estate - construction
686

 
439

 
—

 
12,197

 
12,197

 
13,322

 
993,613

 
1,006,935

Consumer - direct
260

 
55

 
70

 
—

 
70

 
385

 
54,828

 
55,213

Consumer - indirect
3,055

 
626

 
226

 
—

 
226

 
3,907

 
254,663

 
258,570

Total consumer
3,315

 
681

 
296

 
—

 
296

 
4,292

 
309,491

 
313,783

Leasing, other and overdrafts
568

 
287

 
32

 
—

 
32

 
887

 
267,111

 
267,998

Total
$
40,709

 
$
20,800

 
$
10,010

 
$
124,749

 
$
134,759

 
$
196,268

 
$
15,571,979

 
$
15,768,247



The following table presents TDRs, by class segment:
 
September 30,
2018
 
December 31,
2017
 
(in thousands)
Real-estate - residential mortgage
$
24,810

 
$
26,016

Real-estate - commercial mortgage
15,690

 
13,959

Real estate - home equity
16,208

 
15,558

Commercial
10,342

 
10,820

Consumer
8

 
26

Total accruing TDRs
67,058

 
66,379

Non-accrual TDRs (1)
23,238

 
29,051

Total TDRs
$
90,296

 
$
95,430

 
(1)
Included in non-accrual loans in the preceding table detailing non-performing assets.



The following table presents TDRs, by class segment and type of concession for loans that were modified during the three and nine months ended September 30, 2018 and 2017:
 
 
Three months ended September 30
 
Nine months ended September 30
 
2018
 
2017
 
2018
 
2017
Number of Loans
 
Post-Modification Recorded Investment
 
Number of Loans
 
Post-Modification Recorded Investment
 
Number of Loans
 
Post-Modification Recorded Investment
 
Number of Loans
 
Post-Modification Recorded Investment
 
(dollars in thousands)
Real estate – residential mortgage:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Extend maturity with rate concession
3

 
$
330

 
2

 
$
468

 
3

 
$
330

 
2

 
$
468

 
Extend maturity without rate concession
1

 
267

 
2

 
151

 
2

 
344

 
4

 
488

 
Bankruptcy
—

 
—

 
—

 
—

 
1

 
5

 
2

 
335

Real estate - commercial mortgage:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Extend maturity without rate concession
—

 
—

 
2

 
1,247

 
6

 
8,261

 
6

 
2,228

 
Bankruptcy
—

 
—

 
—

 
—

 
—

 
—

 
1

 
12

Real estate - home equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Extend maturity without rate concession
23

 
985

 
14

 
1,315

 
63

 
3,607

 
47

 
3,874

 
Bankruptcy
1

 
17

 
6

 
127

 
8

 
438

 
23

 
1,643

Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Extend maturity without rate concession
2

 
913

 
1

 
160

 
7

 
2,064

 
9

 
5,853

 
Bankruptcy
—

 
—

 
—

 
—

 
—

 
—

 
1

 
490

Commercial – unsecured:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Extend maturity without rate concession
—

 
—

 
—

 
—

 
—

 
—

 
1

 
33

Construction - commercial residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Extend maturity without rate concession
—

 
—

 
—

 
—

 
—

 
—

 
1

 
1,204

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
30

 
$
2,512

 
27

 
$
3,468

 
90

 
$
15,049

 
97

 
$
16,628

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


The following table presents TDRs, by class segment, as of September 30, 2018 and 2017 that were modified in the previous 12 months and had a post-modification payment default during the nine months ended September 30, 2018 and 2017. The Corporation defines a payment default as a single missed payment.
 
2018
 
2017
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(dollars in thousands)
Real estate - residential mortgage
6

 
$
724

 
5

 
$
1,321

Real estate - commercial mortgage
2

 
452

 
3

 
653

Real estate - home equity
25

 
1,591

 
27

 
1,598

Commercial
4

 
5,042

 
2

 
264

Construction
—

 
—

 
2

 
1,609

Total
37

 
$
7,809

 
39

 
$
5,445