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ALLOWANCE FOR CREDIT LOSSES
 3 Months Ended
Jun. 30, 2015
ALLOWANCE FOR CREDIT LOSSES [Abstract]  
ALLOWANCE FOR CREDIT LOSSES

NOTE 3 – ALLOWANCE FOR CREDIT LOSSES

 

The following tables summarize the changes in the allowance for credit losses by segment and class for the periods indicated:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended

 

 

June 30, 2015

 

 

Balance,

 

 

 

 

 

 

 

Balance,

 

 

Beginning of

 

 

 

 

 

 

 

End of

 

 

Period

 

Charge-offs

 

Recoveries

 

Provision

 

Period

 

 

(In thousands)

Commercial and industrial

 

$        21,419

 

$          (1,819)

 

$          784

 

$       1,094

 

$     21,478

Real estate

 

 

 

 

 

 

 

 

 

 

Consumer mortgages

 
40,015 

 
(1,467)

 
1,652 

 
(1,895)

 
38,305 

Home equity

 
9,542 

 
(743)

 
426 

 
408 

 
9,633 

Agricultural

 
3,420 

 
(8)

 
305 

 
(678)

 
3,039 

Commercial and industrial-owner occupied

 
16,325 

 
(798)

 
696 

 
1,121 

 
17,344 

Construction, acquisition and development

 
9,885 

 
(615)

 
9,582 

 
(9,061)

 
9,791 

Commercial real estate

 
23,562 

 
(2,124)

 
1,320 

 
(963)

 
21,795 

Credit cards

 
6,514 

 
(1,203)

 
336 

 
(134)

 
5,513 

All other

 
11,761 

 
(1,020)

 
565 

 
108 

 
11,414 

Total

 

$      142,443

 

$          (9,797)

 

$     15,666

 

$    (10,000)

 

$   138,312

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended

 

 

December 31, 2014

 

 

Balance,

 

 

 

 

 

 

 

Balance,

 

 

Beginning of

 

 

 

 

 

 

 

End of

 

 

Period

 

Charge-offs

 

Recoveries

 

Provision

 

Period

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

Commercial and industrial

 

$        18,376

 

$          (2,546)

 

$       2,298

 

$       3,291

 

$     21,419

Real estate

 

 

 

 

 

 

 

 

 

 

 Consumer mortgages

 
39,525 

 
(6,037)

 
3,267 

 
3,260 

 
40,015 

 Home equity

 
5,663 

 
(1,359)

 
625 

 
4,613 

 
9,542 

 Agricultural

 
2,800 

 
(765)

 
96 

 
1,289 

 
3,420 

 Commercial and industrial-owner occupied

 
17,059 

 
(3,591)

 
1,112 

 
1,745 

 
16,325 

 Construction, acquisition and development

 
11,828 

 
(3,731)

 
3,734 

 
(1,946)

 
9,885 

 Commercial real estate

 
43,853 

 
(1,795)

 
1,458 

 
(19,954)

 
23,562 

Credit cards

 
3,782 

 
(2,359)

 
542 

 
4,549 

 
6,514 

All other

 
10,350 

 
(2,844)

 
1,102 

 
3,153 

 
11,761 

   Total

 

$      153,236

 

$        (25,027)

 

$     14,234

 

$               -

 

$   142,443

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended

 

 

June 30, 2014

 

 

Balance,

 

 

 

 

 

 

 

Balance,

 

 

Beginning of

 

 

 

 

 

 

 

End of

 

 

Period

 

Charge-offs

 

Recoveries

 

Provision

 

Period

 

 

(In thousands)

Commercial and industrial

 

$        18,376

 

$          (1,061)

 

$       1,435

 

$          848

 

$     19,598

Real estate

 

 

 

 

 

 

 

 

 

 

 Consumer mortgages

 
39,525 

 
(3,627)

 
1,494 

 
(922)

 
36,470 

 Home equity

 
5,663 

 
(756)

 
366 

 
147 

 
5,420 

 Agricultural

 
2,800 

 
(714)

 
35 

 
355 

 
2,476 

 Commercial and industrial-owner occupied

 
17,059 

 
(2,142)

 
436 

 
2,274 

 
17,627 

 Construction, acquisition and development

 
11,828 

 
(1,707)

 
2,445 

 
(2,157)

 
10,409 

 Commercial real estate

 
43,853 

 
(1,262)

 
549 

 
158 

 
43,298 

Credit cards

 
3,782 

 
(1,167)

 
266 

 
(331)

 
2,550 

All other

 
10,350 

 
(1,254)

 
560 

 
(372)

 
9,284 

   Total

 

$      153,236

 

$        (13,690)

 

$       7,586

 

$               -

 

$   147,132

 

 

The following tables provide the allowance for credit losses by segment, class and impairment status as of the dates indicated::

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2015

 

 

Recorded

 

Allowance for

 

Allowance for

 

 

 

 

Balance of

 

Impaired Loans

 

All Other Loans

 

Total

 

 

Impaired Loans

 

and Leases

 

and Leases

 

Allowance

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

Commercial and industrial

 

$               7,167

 

$              1,925

 

$             19,553

 

$     21,478

Real estate

 

 

 

 

 

 

 

 

Consumer mortgages

 
3,604 

 

 -

 
38,305 

 
38,305 

Home equity

 
1,811 

 
69 

 
9,564 

 
9,633 

Agricultural

 

 -

 

 -

 
3,039 

 
3,039 

Commercial and industrial-owner occupied

 
9,584 

 
1,699 

 
15,645 

 
17,344 

Construction, acquisition and development

 
3,615 

 

 -

 
9,791 

 
9,791 

Commercial real estate

 
9,033 

 
249 

 
21,546 

 
21,795 

Credit cards

 

 -

 

 -

 
5,513 

 
5,513 

All other

 
299 

 

 -

 
11,414 

 
11,414 

Total

 

$             35,113

 

$              3,942

 

$           134,370

 

$   138,312

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

Recorded

 

Allowance for

 

Allowance for

 

 

 

 

Balance of

 

Impaired Loans

 

All Other Loans

 

Total

 

 

Impaired Loans

 

and Leases

 

and Leases

 

Allowance

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

Commercial and industrial

 

$               2,154

 

$                215

 

$             21,204

 

$     21,419

Real estate

 

 

 

 

 

 

 

 

Consumer mortgages

 
4,786 

 
123 

 
39,892 

 
40,015 

Home equity

 
619 

 
70 

 
9,472 

 
9,542 

Agricultural

 

 -

 

 -

 
3,420 

 
3,420 

Commercial and industrial-owner occupied

 
7,467 

 
89 

 
16,236 

 
16,325 

Construction, acquisition and development

 
2,387 

 

 -

 
9,885 

 
9,885 

Commercial real estate

 
10,518 

 
1,022 

 
22,540 

 
23,562 

Credit cards

 

 -

 

 -

 
6,514 

 
6,514 

All other

 
170 

 

 -

 
11,761 

 
11,761 

Total

 

$             28,101

 

$             1,519

 

$           140,924

 

$   142,443

 

Management evaluates impaired loans individually in determining the adequacy of the allowance for impaired loans.  As a result of the Company individually evaluating loans of $500,000 or more that are 60 or more days past due for impairment, further review of remaining loans collectively, as well as the corresponding potential allowance, would be immaterial in the opinion of management.