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Loans and Allowance for Credit Losses
 9 Months Ended
Sep. 30, 2019
Receivables [Abstract]  
Loans and Allowance for Credit Losses Loans and Leases and Allowance for Credit Losses

Loans and Leases, Net of Unearned Income

Loans and leases, net of unearned income are summarized as follows:
 
September 30,
2019
 
December 31, 2018
 
(in thousands)
Real-estate - commercial mortgage
$
6,604,634

 
$
6,434,285

Commercial - industrial, financial and agricultural
4,494,496

 
4,404,548

Real estate - residential mortgage
2,570,793

 
2,251,044

Real estate - home equity
1,346,115

 
1,452,137

Real estate - construction
913,644

 
916,599

Consumer
464,213

 
419,186

Equipment lease financing and other
316,880

 
311,866

Overdrafts
2,929

 
2,774

Loans and leases, gross of unearned income
16,713,704

 
16,192,439

Unearned income
(26,838
)
 
(26,639
)
Loans and leases, net of unearned income
$
16,686,866

 
$
16,165,800



The Corporation segments its loan and lease portfolio by general loan type, or "portfolio segments," as presented in the table under the heading, "Loans and Leases, 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 loans 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 loans include direct consumer installment loans and indirect vehicle loans.

Allowance for Credit Losses

The allowance for credit losses consists of the allowance for loan and lease losses and the reserve for unfunded lending commitments. The allowance for loan and lease losses represents management’s estimate of incurred losses in the loan and lease portfolio as of the balance sheet date and is recorded as a reduction to loans and leases. The reserve for unfunded lending commitments represents management’s estimate of incurred losses in its unfunded loan commitments and other off balance sheet credit exposures, such as 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 and leases individually evaluated for impairment (FASB ASC Section 310-10-35); and (2) allowances calculated for pools of loans and leases collectively evaluated for impairment (FASB ASC Subtopic 450-20).









The following table presents the components of the allowance for credit losses:
 
September 30,
2019
 
December 31,
2018
 
(in thousands)
Allowance for loan and lease losses
$
166,135

 
$
160,537

Reserve for unfunded lending commitments
6,662

 
8,873

Allowance for credit losses
$
172,797

 
$
169,410



The following table presents the activity in the allowance for credit losses:
 
Three months ended September 30
 
Nine months ended September 30
 
2019
 
2018
 
2019
 
2018
 
(in thousands)
Balance at beginning of period
$
176,941

 
$
169,247

 
$
169,410

 
$
176,084

Loans and leases charged off
(10,128
)
 
(6,883
)
 
(20,208
)
 
(55,440
)
Recoveries of loans and leases previously charged off
3,814

 
3,842

 
11,300

 
8,475

Net loans and leases charged off
(6,314
)
 
(3,041
)
 
(8,908
)
 
(46,965
)
Provision for credit losses
2,170

 
1,620

 
12,295

 
38,707

Balance at end of period
$
172,797

 
$
167,826

 
$
172,797

 
$
167,826


The following table presents the activity in the allowance for loan and lease 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
 
Equipment lease financing, other
and overdrafts
 
Total
 
(in thousands)
Three months ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at June 30, 2019
$
54,859

 
$
66,341

 
$
18,981

 
$
18,892

 
$
4,928

 
$
3,363

 
$
2,869

 
$
170,233

Loans and leases charged off
(394
)
 
(7,181
)
 
(498
)
 
(533
)
 
(45
)
 
(877
)
 
(600
)
 
(10,128
)
Recoveries of loans and leases previously charged off
444

 
2,311

 
132

 
440

 
164

 
216

 
107

 
3,814

Net loans and leases recovered (charged off)
50

 
(4,870
)
 
(366
)
 
(93
)
 
119

 
(661
)
 
(493
)
 
(6,314
)
Provision for loan and lease losses (1)
(5,529
)
 
7,710

 
(662
)
 
(109
)
 
(664
)
 
798

 
672

 
2,216

Balance at September 30, 2019
$
49,380

 
$
69,181

 
$
17,953

 
$
18,690

 
$
4,383

 
$
3,500

 
$
3,048

 
$
166,135

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 and leases charged off
(650
)
 
(3,541
)
 
(743
)
 
(483
)
 
(212
)
 
(672
)
 
(582
)
 
(6,883
)
Recoveries of loans and leases previously charged off
928

 
731

 
217

 
317

 
664

 
390

 
595

 
3,842

Net loans and leases recovered (charged off)
278

 
(2,810
)
 
(526
)
 
(166
)
 
452

 
(282
)
 
13

 
(3,041
)
Provision for loan and lease 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

Nine months ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2018
$
52,889

 
$
58,868

 
$
18,911

 
$
18,921

 
$
5,061

 
$
3,217

 
$
2,670

 
$
160,537

Loans and leases charged off
(1,769
)
 
(11,863
)
 
(923
)
 
(1,322
)
 
(143
)
 
(2,355
)
 
(1,833
)
 
(20,208
)
Recoveries of loans and leases previously charged off
749

 
6,234

 
552

 
783

 
1,493

 
1,005

 
484

 
11,300

Net loans and leases recovered (charged off)
(1,020
)
 
(5,629
)
 
(371
)
 
(539
)
 
1,350

 
(1,350
)
 
(1,349
)
 
(8,908
)
Provision for loan losses (1)
(2,489
)
 
15,942

 
(587
)
 
308

 
(2,028
)
 
1,633

 
1,727

 
14,506

Balance at September 30, 2019
$
49,380

 
$
69,181

 
$
17,953

 
$
18,690

 
$
4,383

 
$
3,500

 
$
3,048

 
$
166,135

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 and leases charged off
(1,283
)
 
(46,178
)
 
(1,967
)
 
(1,128
)
 
(976
)
 
(2,276
)
 
(1,632
)
 
(55,440
)
Recoveries of loans and leases previously charged off
1,528

 
2,347

 
694

 
520

 
1,414

 
1,015

 
957

 
8,475

Net loans and leases recovered (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


(1)
The provision for loan and lease losses excluded a $46,000 and a $2.2 million decrease in the reserve for unfunded lending commitments for the three and nine months ended September 30, 2019, respectively, and 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.
The following table presents loans and leases, net of unearned income and their related allowance for loan and lease 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
 
Equipment lease financing, other and
overdrafts
 
Total
 
(in thousands)
Allowance for loan and lease losses at September 30, 2019:
 
 
 
 
 
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
42,766

 
$
58,722

 
$
8,033

 
$
9,678

 
$
3,970

 
$
3,495

 
$
2,944

 
$
129,608

Individually evaluated for impairment
6,614

 
10,459

 
9,920

 
9,012

 
413

 
5

 
104

 
36,527

 
$
49,380

 
$
69,181

 
$
17,953

 
$
18,690

 
$
4,383

 
$
3,500

 
$
3,048

 
$
166,135

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans and leases, net of unearned income at September 30, 2019:
 
 
 
 
 
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
6,543,781

 
$
4,453,062

 
$
1,323,950

 
$
2,533,295

 
$
909,811

 
$
464,206

 
$
275,552

 
$
16,503,657

Individually evaluated for impairment
60,853

 
41,434

 
22,165

 
37,498

 
3,833

 
7

 
17,419

 
183,209

 
$
6,604,634

 
$
4,494,496

 
$
1,346,115

 
$
2,570,793

 
$
913,644

 
$
464,213

 
$
292,971

 
$
16,686,866

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan and lease losses at September 30, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
46,812

 
$
47,028

 
$
7,856

 
$
8,369

 
$
4,718

 
$
2,841

 
$
2,717

 
$
120,341

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 and leases, net of unearned income at September 30, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
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

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



Impaired Loans and Leases

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

All loans and leases individually evaluated for impairment are measured for losses on a quarterly basis. As of September 30, 2019 and December 31, 2018, substantially all of the Corporation’s individually evaluated impaired loans and leases 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 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, 2019 and December 31, 2018, approximately 73% and 89%, respectively, of impaired loans and leases with principal balances greater than or equal to $1.0 million, whose primary collateral is real estate, were measured at estimated fair value using appraisals performed by state certified third-party appraisers that had been updated in the preceding 12 months.

When updated appraisals are not obtained for loans and leases 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 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 and leases by class segment:
 
September 30, 2019
 
December 31, 2018
 
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
$
31,305

 
$
29,156

 
$
—

 
$
25,095

 
$
23,481

 
$
—

Commercial
27,060

 
21,617

 
—

 
33,493

 
26,585

 
—

Real estate - residential mortgage
4,531

 
4,368

 
—

 
3,149

 
3,149

 
—

Construction
6,449

 
2,598

 
—

 
8,980

 
5,083

 
—

Equipment lease financing
19,269

 
17,003

 
—

 
19,269

 
19,268

 
—

 
88,614

 
74,742

 
—

 
89,986

 
77,566

 
—

With a related allowance recorded:
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
38,393

 
31,697

 
6,614

 
29,005

 
22,592

 
7,255

Commercial
29,146

 
19,817

 
10,459

 
37,706

 
28,708

 
12,513

Real estate - residential mortgage
37,559

 
33,130

 
9,012

 
39,972

 
35,621

 
9,394

Real estate - home equity
25,317

 
22,165

 
9,920

 
26,599

 
23,373

 
10,370

Real estate - construction
4,724

 
1,235

 
413

 
5,984

 
2,307

 
793

Consumer
7

 
7

 
5

 
11

 
11

 
7

Equipment lease financing
416

 
416

 
104

 
—

 
—

 
—

 
135,562

 
108,467

 
36,527

 
139,277

 
112,612

 
40,332

Total
$
224,176

 
$
183,209

 
$
36,527

 
$
229,263

 
$
190,178

 
$
40,332


As of September 30, 2019 and December 31, 2018, there were $74.7 million and $77.6 million, respectively, of impaired loans and leases that did not have a related allowance for loan and lease losses. The estimated fair values of the collateral securing these loans and leases exceeded their carrying amount, or the loans and leases 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 and leases by class segment:
 
Three months ended September 30
 
Nine months ended September 30
 
2019
 
2018
 
2019
 
2018
 
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
$
29,865

 
$
94

 
$
26,051

 
$
94

 
$
27,028

 
$
291

 
$
25,702

 
$
274

Commercial
22,603

 
30

 
30,157

 
66

 
24,670

 
92

 
35,098

 
208

Real estate - residential mortgage
4,384

 
26

 
3,182

 
20

 
3,761

 
69

 
3,872

 
71

Real estate -construction
2,601

 
—

 
6,845

 
—

 
3,827

 
—

 
7,408

 
—

Equipment lease financing
17,381

 
—

 
—

 
—

 
18,136

 
—

 
—

 
—

 
76,834

 
150

 
66,235

 
180

 
77,422

 
452

 
72,080

 
553

With a related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
30,508

 
96

 
23,734

 
85

 
25,837

 
268

 
24,727

 
260

Commercial
23,906

 
32

 
23,687

 
51

 
26,373

 
101

 
23,934

 
149

Real estate - home equity
22,874

 
210

 
24,628

 
202

 
23,237

 
655

 
24,690

 
581

Real estate - residential mortgage
33,035

 
198

 
36,396

 
227

 
34,535

 
638

 
36,578

 
671

Real estate -construction
1,399

 
—

 
2,061

 
—

 
1,683

 
—

 
2,778

 
—

Consumer
8

 
—

 
10

 
—

 
10

 
—

 
18

 
—

Equipment lease financing
208

 
—

 
—

 
—

 
104

 
—

 
—

 
—

 
111,938

 
536

 
110,516

 
565

 
111,779

 
1,662

 
112,725

 
1,661

Total
$
188,772

 
$
686

 
$
176,751

 
$
745

 
$
189,201

 
$
2,114

 
$
184,805

 
$
2,214

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
All impaired loans and leases were either TDRs or non-accrual loans and leases. Interest income recognized for the three and nine months ended September 30, 2019 and 2018 represented 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 have a heightened credit risk, but not to the 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, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
(dollars in thousands)
Real estate - commercial mortgage
$
6,290,567

 
$
6,129,463

 
$
142,136

 
$
170,827

 
$
171,931

 
$
133,995

 
$
6,604,634

 
$
6,434,285

Commercial - secured
3,926,856

 
3,902,484

 
198,592

 
193,470

 
184,584

 
129,026

 
4,310,032

 
4,224,980

Commercial - unsecured
175,761

 
171,589

 
5,082

 
4,016

 
3,621

 
3,963

 
184,464

 
179,568

Total commercial - industrial, financial and agricultural
4,102,617

 
4,074,073

 
203,674

 
197,486

 
188,205

 
132,989

 
4,494,496

 
4,404,548

Construction - commercial residential
112,163

 
104,079

 
2,871

 
6,912

 
3,627

 
6,881

 
118,661

 
117,872

Construction - commercial
707,290

 
723,030

 
719

 
1,163

 
2,704

 
2,533

 
710,713

 
726,726

Total construction (excluding Construction - other)
819,453

 
827,109

 
3,590

 
8,075

 
6,331

 
9,414

 
829,374

 
844,598

 
$
11,212,637

 
$
11,030,645

 
$
349,400

 
$
376,388

 
$
366,467

 
$
276,398

 
$
11,928,504

 
$
11,683,431

% of Total
94.0
%
 
94.4
%
 
2.9
%
 
3.2
%
 
3.1
%
 
2.4
%
 
100.0
%
 
100.0
%


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

The following table presents a summary of performing, delinquent and non-performing loans and leases for the indicated class segments:
 
Performing
 
Delinquent (1)
 
Non-performing (2)
 
Total
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
September 30, 2019
 
December 31, 2018
 
(dollars in thousands)
Real estate - home equity
$
1,325,900

 
$
1,431,666

 
$
9,445

 
$
10,702

 
$
10,770

 
$
9,769

 
$
1,346,115

 
$
1,452,137

Real estate - residential mortgage
2,526,551

 
2,202,955

 
24,092

 
28,988

 
20,150

 
19,101

 
2,570,793

 
2,251,044

Construction - other
82,787

 
71,511

 
1,296

 
—

 
187

 
490

 
84,270

 
72,001

Consumer - direct
64,066

 
55,629

 
641

 
338

 
94

 
66

 
64,801

 
56,033

Consumer - indirect
395,919

 
359,405

 
3,345

 
3,405

 
148

 
343

 
399,412

 
363,153

Total consumer
459,985

 
415,034

 
3,986

 
3,743

 
242

 
409

 
464,213

 
419,186

Equipment lease financing, other and overdrafts
274,239

 
267,112

 
1,066

 
1,302

 
17,666

 
19,587

 
292,971

 
288,001

 
$
4,669,462

 
$
4,388,278

 
$
39,885

 
$
44,735

 
$
49,015

 
$
49,356

 
$
4,758,362

 
$
4,482,369

% of Total
98.1
%
 
97.9
%
 
0.9
%
 
1.0
%
 
1.0
%
 
1.1
%
 
100.0
%
 
100.0
%
(1)
Includes all accruing loans and leases 30 days to 89 days past due.
(2)
Includes all accruing loans and leases 90 days or more past due and all non-accrual loans and leases.
The following table presents non-performing assets:
 
September 30,
2019
 
December 31,
2018
 
(in thousands)
Non-accrual loans and leases
$
124,287

 
$
128,572

Loans and leases 90 days or more past due and still accruing
11,689

 
11,106

Total non-performing loans and leases
135,976

 
139,678

Other real estate owned (OREO)
7,706

 
10,518

Total non-performing assets
$
143,682

 
$
150,196









The following tables present past due status and non-accrual loans and leases by portfolio segment and class segment:
 
September 30, 2019
 
30-59
Days Past
Due
 
60-89
Days Past
Due
 
≥ 90 Days
Past Due
and
Accruing
 
Non-
accrual
 
Total Past
Due and Non-accrual
 
Current
 
Total
 
(in thousands)
Real estate - commercial mortgage
$
25,100

 
$
4,292

 
$
1,301

 
$
44,409

 
$
75,102

 
$
6,529,532

 
$
6,604,634

Commercial - secured
3,234

 
1,961

 
731

 
35,664

 
41,590

 
4,268,442

 
4,310,032

Commercial - unsecured
91

 
85

 
153

 
578

 
907

 
183,557

 
184,464

Total commercial - industrial, financial and agricultural
3,325

 
2,046

 
884

 
36,242

 
42,497

 
4,451,999

 
4,494,496

Real estate - home equity
7,063

 
2,382

 
4,122

 
6,648

 
20,215

 
1,325,900

 
1,346,115

Real estate - residential mortgage
17,801

 
6,291

 
4,414

 
15,736

 
44,242

 
2,526,551

 
2,570,793

Construction - commercial residential
1,326

 
—

 
479

 
3,627

 
5,432

 
113,229

 
118,661

Construction - commercial
392

 
—

 
—

 
19

 
411

 
710,302

 
710,713

Construction - other
1,296

 
—

 
—

 
187

 
1,483

 
82,787

 
84,270

Total real estate - construction
3,014

 
—

 
479

 
3,833

 
7,326

 
906,318

 
913,644

Consumer - direct
521

 
120

 
94

 
—

 
735

 
64,066

 
64,801

Consumer - indirect
2,890

 
455

 
148

 
—

 
3,493

 
395,919

 
399,412

Total consumer
3,411

 
575

 
242

 
—

 
4,228

 
459,985

 
464,213

Equipment lease financing, other and overdrafts
923

 
143

 
247

 
17,419

 
18,732

 
274,239

 
292,971

       Total
$
60,637

 
$
15,729

 
$
11,689

 
$
124,287

 
$
212,342

 
$
16,474,524

 
$
16,686,866

 
December 31, 2018
 
30-59
Days Past
Due
 
60-89
Days Past
Due
 
≥ 90 Days
Past Due
and
Accruing
 
Non-
accrual
 
Total Past
Due and Non-accrual
 
Current
 
Total
 
(in thousands)
Real estate - commercial mortgage
$
12,206

 
$
1,500

 
$
1,765

 
$
30,388

 
$
45,859

 
$
6,388,426

 
$
6,434,285

Commercial - secured
5,227

 
938

 
1,068

 
49,299

 
56,532

 
4,168,448

 
4,224,980

Commercial - unsecured
1,598

 
—

 
51

 
851

 
2,500

 
177,068

 
179,568

Total commercial - industrial, financial and agricultural
6,825

 
938

 
1,119

 
50,150

 
59,032

 
4,345,516

 
4,404,548

Real estate - home equity
7,144

 
3,558

 
3,061

 
6,708

 
20,471

 
1,431,666

 
1,452,137

Real estate - residential mortgage
20,796

 
8,192

 
4,433

 
14,668

 
48,089

 
2,202,955

 
2,251,044

Construction - commercial residential
2,489

 
—

 
—

 
6,881

 
9,370

 
108,502

 
117,872

Construction - commercial
—

 
—

 
—

 
19

 
19

 
726,707

 
726,726

Construction - other
—

 
—

 
—

 
490

 
490

 
71,511

 
72,001

Total real estate - construction
2,489

 
—

 
—

 
7,390

 
9,879

 
906,720

 
916,599

Consumer - direct
267

 
71

 
66

 
—

 
404

 
55,629

 
56,033

Consumer - indirect
2,908

 
497

 
343

 
—

 
3,748

 
359,405

 
363,153

Total consumer
3,175

 
568

 
409

 
—

 
4,152

 
415,034

 
419,186

Equipment lease financing, other and overdrafts
1,005

 
297

 
319

 
19,268

 
20,889

 
267,112

 
288,001

Total
$
53,640

 
$
15,053

 
$
11,106

 
$
128,572

 
$
208,371

 
$
15,957,429

 
$
16,165,800












The following table presents TDRs, by class segment:
 
September 30,
2019
 
December 31,
2018
 
(in thousands)
Real estate - residential mortgage
$
21,762

 
$
24,102

Real estate - commercial mortgage
16,444

 
15,685

Real estate - home equity
15,505

 
16,665

Commercial
5,192

 
5,143

Consumer
7

 
10

Total accruing TDRs
58,910

 
61,605

Non-accrual TDRs (1)
23,553

 
28,659

Total TDRs
$
82,463

 
$
90,264

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

The following table presents TDRs, by class segment, for loans that were modified during the three and nine months ended September 30, 2019 and 2018:
 
Three months ended September 30
 
Nine months ended September 30
 
2019
 
2018
 
2019
 
2018
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(dollars in thousands)
Real estate - residential mortgage
1

 
$
830

 
4

 
$
597

 
6

 
$
2,263

 
6

 
$
679

Real estate - commercial mortgage
1

 
81

 
—

 
—

 
1

 
81

 
—

 
—

Real estate - home equity
12

 
327

 
24

 
1,002

 
46

 
2,281

 
71

 
4,045

Commercial
3

 
97

 
2

 
913

 
13

 
4,928

 
13

 
10,325

Total
17

 
$
1,335

 
30

 
$
2,512

 
66

 
$
9,553

 
90

 
$
15,049



Restructured loan modifications may include payment schedule modifications, interest rate concessions, bankruptcies, principal reduction or some combination of these concessions. During the three and nine months ended September 30, 2019, restructured loan modifications of residential mortgages, home equity and commercial loans primarily included maturity date extensions, rate modifications and payment schedule modifications.

The following table presents TDRs, by class segment, as of September 30, 2019 and 2018 that were modified in the previous 12 months and had a post-modification payment default during the nine months ended September 30, 2019 and 2018. The Corporation defines a payment default as a single missed payment.
 
2019
 
2018
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(dollars in thousands)
Real estate - residential mortgage
1

 
$
231

 
6

 
$
724

Real estate - commercial mortgage
—

 
—

 
2

 
452

Real estate - home equity
16

 
657

 
25

 
1,591

Commercial
4

 
190

 
4

 
5,042

Total
21

 
$
1,078

 
37

 
$
7,809