XML 25 R31.htm IDEA: XBRL DOCUMENT v3.20.1
LOANS AND LEASES (Tables)
 3 Months Ended
Mar. 31, 2020
Receivables [Abstract]  
Commercial and Consumer Credit Exposure by Risk Attribute
The following table sets forth the Company's loan portfolio at March 31, 2020 by risk attribute and origination date:
(Dollars in thousands)
2020
2019
2018
2017
2016
Prior
Term Total
Revolving
Total
Commercial & industrial
 
 
 
 
 
 
 
 
 
Pass
$
112,198

$
541,313

$
463,439

$
296,040

$
195,719

$
166,485

$
1,775,194

$
582,562

$
2,357,756

Special mention
0

7,524

11,814

8,206

3,057

3,835

34,436

26,287

60,723

Substandard
281

830

11,555

26,492

8,449

2,027

49,634

9,660

59,294

Doubtful
0

0

0

0

0

0

0

0

0

Total
$
112,479

$
549,667

$
486,808

$
330,738

$
207,225

$
172,347

$
1,859,264

$
618,509

$
2,477,773

Lease financing
 
 
 
 
 
 
 
 
 
Pass
$
2,422

$
30,362

$
15,240

$
12,482

$
8,474

$
11,374

$
80,354

$
0

$
80,354

Special mention
0
0
0
0
0
6
6

0
6

Substandard
0
0
1,379
257
588
18
2,242

0
2,242

Doubtful
0
0
0
0
0
0
0

0
0

Total
$
2,422

$
30,362

$
16,619

$
12,739

$
9,062

$
11,398

$
82,602

$
0

$
82,602

Construction real estate
 
 
 
 
 
 
 
 
 
Pass
$
4,582

$
127,531

$
164,885

$
79,198

$
52,550

$
56,575

$
485,321

$
14,990

$
500,311

Special mention
0

0

0

0

0

0

0

0

0

Substandard
0

0

0

0

0

0

0

0

0

Doubtful
0

0

0

0

0

0

0

0

0

Total
$
4,582

$
127,531

$
164,885

$
79,198

$
52,550

$
56,575

$
485,321

$
14,990

$
500,311

Commercial real estate - investor
 
 
 
 
 
 
 
 
Pass
$
121,429

$
1,052,858

$
485,310

$
455,332

$
357,074

$
578,729

$
3,050,732

$
64,503

$
3,115,235

Special mention
966

59

957

18,881

19,243

3,261

43,367

174

43,541

Substandard
0

4,334

6,831

6,150

112

3,834

21,261

0

21,261

Doubtful
0

0

0

0

0

0

0

0

0

Total
$
122,395

$
1,057,251

$
493,098

$
480,363

$
376,429

$
585,824

$
3,115,360

$
64,677

$
3,180,037

Commercial real estate - owner
 
 
 
 
 
 
 
 
 
Pass
$
64,121

$
188,827

$
178,010

$
162,309

$
173,052

$
260,262

$
1,026,581

$
32,492

$
1,059,073

Special mention
0

696

4,112

289

2,549

16,456

24,102

331

24,433

Substandard
0

2,092

2,259

4,612

1,786

3,965

14,714

0

14,714

Doubtful
0

0

0

0

0

0

0

0

0

Total
$
64,121

$
191,615

$
184,381

$
167,210

$
177,387

$
280,683

$
1,065,397

$
32,823

$
1,098,220

Residential real estate
 
 
 
 
 
 
 
 
 
Performing
$
61,423

$
319,956

$
168,242

$
95,898

$
83,240

$
326,053

$
1,054,812

$
0

$
1,054,812

Nonperforming
0

261

221

677

363

5,458

6,980

0

6,980

Total
$
61,423

$
320,217

$
168,463

$
96,575

$
83,603

$
331,511

$
1,061,792

$
0

$
1,061,792

Home equity
 
 
 
 
 
 
 
 
 
Performing
$
9,019

$
27,294

$
23,829

$
15,066

$
13,639

$
62,117

$
150,964

$
625,581

$
776,545

Nonperforming
0

79

96

39

95

435

744

3,954

4,698

Total
$
9,019

$
27,373

$
23,925

$
15,105

$
13,734

$
62,552

$
151,708

$
629,535

$
781,243

Installment
 
 
 
 
 
 
 
 
 
Performing
$
7,267

$
24,153

$
17,227

$
14,093

$
4,260

$
4,370

$
71,370

$
8,524

$
79,894

Nonperforming
0

28

44

9

15

95

191

0

191

(Dollars in thousands)
2020
2019
2018
2017
2016
Prior
Term Total
Revolving
Total
Total
$
7,267

$
24,181

$
17,271

$
14,102

$
4,275

$
4,465

$
71,561

$
8,524

$
80,085

Credit cards
 
 
 
 
 
 
 
 
 
Performing
$
0

$
0

$
0

$
0

$
0

$
0

$
0

$
44,920

$
44,920

Nonperforming
0

0

0

0

0

0

0

836

836

Total
$
0

$
0

$
0

$
0

$
0

$
0

$
0

$
45,756

$
45,756

Grand Total
$
383,709

$
2,328,197

$
1,609,712

$
1,196,029

$
924,268

$
1,451,089

$
7,893,004

$
1,414,815

$
9,307,819


Commercial and consumer credit exposure by risk attribute as of December 31, 2019 was as follows:
 
 
As of December 31, 2019
 
 
Commercial
 
Real Estate
 
Lease
 
 
(Dollars in thousands)
 
& industrial
 
Construction
 
Commercial
 
financing
 
Total
Pass
 
$
2,324,021

 
$
493,182

 
$
4,108,752

 
$
85,262

 
$
7,011,217

Special Mention
 
100,954

 
0

 
59,383

 
488

 
160,825

Substandard
 
40,902

 
0

 
26,516

 
2,614

 
70,032

Doubtful
 
0

 
0

 
0

 
0

 
0

Total
 
$
2,465,877

 
$
493,182

 
$
4,194,651

 
$
88,364

 
$
7,242,074


(Dollars in thousands)
 
Residential
real estate
 
Home equity
 
Installment
 
Credit card
 
Total
Performing
 
$
1,040,787

 
$
766,169

 
$
82,385

 
$
48,983

 
$
1,938,324

Nonperforming
 
15,162

 
5,700

 
204

 
201

 
21,267

Total
 
$
1,055,949

 
$
771,869

 
$
82,589

 
$
49,184

 
$
1,959,591
Loan Delinquency, including Nonaccrual Loans
Loan delinquency, including loans classified as nonaccrual, was as follows:
 
 
As of March 31, 2020
(Dollars in thousands)
 
30 – 59
days
past due
 
60 – 89
days
past due
 
> 90 days
past due
 
Total
past
due
 
Current
 
Total
 
> 90 days
past due
and still
accruing
Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial & industrial
 
$
2,305

 
$
267

 
$
16,322

 
$
18,894

 
$
2,458,879

 
$
2,477,773

 
$
0

Lease financing
 
0

 
0

 
0

 
0

 
82,602

 
82,602

 
0

Construction real estate
 
0

 
0

 
0

 
0

 
500,311

 
500,311

 
0

Commercial real estate-investor
 
7,225

 
346

 
1,864

 
9,435

 
3,170,602

 
3,180,037

 
0

Commercial real estate-owner
 
1,106

 
0

 
2,782

 
3,888

 
1,094,332

 
1,098,220

 
0

Residential real estate
 
1,710

 
990

 
4,280

 
6,980

 
1,054,812

 
1,061,792

 
0

Home equity
 
1,428

 
852

 
2,419

 
4,699

 
776,544

 
781,243

 
0

Installment
 
73

 
5

 
112

 
190

 
79,895

 
80,085

 
0

Credit card
 
383

 
330

 
122

 
835

 
44,921

 
45,756

 
120

Total
 
$
14,230

 
$
2,790

 
$
27,901

 
$
44,921

 
$
9,262,898

 
$
9,307,819

 
$
120


 
 
As of December 31, 2019
(Dollars in thousands)
 
30 – 59
days
past due
 
60 – 89
days
past due
 
> 90 days
past due
 
Total
past
due
 
Current
 
Subtotal
 
Purchased
impaired
 
Total
 
> 90 days
past due
and still
accruing
Loans
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial & industrial
 
$
1,266

 
$
3,332

 
$
14,518

 
$
19,116

 
$
2,443,680

 
$
2,462,796

 
$
3,081

 
$
2,465,877

 
$
0

Lease financing
 
0

 
0

 
0

 
0

 
88,364

 
88,364

 
0

 
88,364

 
0

Construction real estate
 
0

 
0

 
0

 
0

 
493,167

 
493,167

 
15

 
493,182

 
0

Commercial real estate
 
776

 
857

 
5,613

 
7,246

 
4,151,513

 
4,158,759

 
35,892

 
4,194,651

 
0

Residential real estate
 
8,032

 
1,928

 
5,031

 
14,991

 
1,014,138

 
1,029,129

 
26,820

 
1,055,949

 
0

Home equity
 
2,530

 
1,083

 
2,795

 
6,408

 
762,863

 
769,271

 
2,598

 
771,869

 
0

Installment
 
111

 
50

 
148

 
309

 
82,022

 
82,331

 
258

 
82,589

 
0

Credit card
 
208

 
75

 
201

 
484

 
48,700

 
49,184

 
0

 
49,184

 
201

Total
 
$
12,923

 
$
7,325

 
$
28,306

 
$
48,554

 
$
9,084,447

 
$
9,133,001

 
$
68,664

 
$
9,201,665

 
$
201
Loans Restructured During Period
The following tables provide information on loan modifications classified as TDRs during the three months ended March 31, 2020 and 2019:
 
 
Three months ended
 
 
March 31, 2020
 
March 31, 2019
(Dollars in thousands)
 
Number of loans
 
Pre-modification loan balance
 
Period end balance
 
Number of loans
 
Pre-modification loan balance
 
Period end balance
Commercial & industrial
 
2

 
$
11,383

 
$
11,383

 
5

 
$
7,637

 
$
7,661

Construction real estate
 
0

 
0

 
0

 
0

 
0

 
0

Commercial real estate
 
0

 
0

 
0

 
6

 
1,323

 
1,232

Residential real estate
 
14

 
1,129

 
1,073

 
5

 
458

 
458

Home equity
 
4

 
186

 
186

 
1

 
17

 
17

Installment
 
1

 
26

 
15

 
0

 
0

 
0

Total
 
21

 
$
12,724

 
$
12,657

 
17

 
$
9,435

 
$
9,368
Loans Restructured, Modifications
The following table provides information on how TDRs were modified during the three months ended March 31, 2020 and 2019:
 
 
Three months ended
 
 
March 31,
(Dollars in thousands)
 
2020
 
2019
Extended maturities
 
$
0

 
$
2,877

Adjusted interest rates
 
0

 
5,284

Combination of rate and maturity changes
 
0

 
508

Forbearance
 
1,008

 
557

Other (1)
 
11,649

 
142

Total
 
$
12,657

 
$
9,368

(1) Includes covenant modifications and other concessions, or combination of concessions, that do not consist of interest rate adjustments, forbearance and maturity extensions
Nonaccrual, Restructured and Impaired Loans The following table provides information on nonperforming loans:
 
 
March 31, 2020
 
December 31, 2019
(Dollars in thousands)
 
Nonaccrual loans with a related ACL
 
Nonaccrual loans with no related ACL
 
Total nonaccrual
 
Total nonaccrual
Nonaccrual loans (1)
 
 
 
 
 
 
 
 
Commercial & industrial
 
$
10,754

 
$
10,372

 
$
21,126

 
$
24,346

Lease financing
 
0

 
222

 
222

 
223

Construction real estate
 
0

 
0

 
0

 
0

Commercial real estate
 
4,206

 
5,844

 
10,050

 
7,295

Residential real estate
 
0

 
11,163

 
11,163

 
10,892

Home equity
 
0

 
5,821

 
5,821

 
5,242

Installment
 
0

 
145

 
145

 
167

Total nonaccrual loans
 
$
14,960

 
$
33,567

 
$
48,527

 
$
48,165

(1) Nonaccrual loans include nonaccrual TDRs of $18.4 million and $18.5 million as of March 31, 2020 and December 31, 2019, respectively.

 
 
Three months ended
 
 
March 31,
(Dollars in thousands)
 
2020
 
2019
Interest income effect on nonperforming loans
 
 
 
 
Gross amount of interest that would have been recorded under original terms
 
$
1,306

 
$
1,613

Interest included in income
 
 
 
 
Nonaccrual loans
 
167

 
335

Troubled debt restructurings
 
235

 
236

Total interest included in income
 
402

 
571

Net impact on interest income
 
$
904

 
$
1,042
Investment in Impaired Loans
First Financial's investment in impaired loans as of December 31, 2019 was as follows:
 
 
As of December 31, 2019
(Dollars in thousands)
 
Current balance
 
Contractual
principal
balance
 
Related
allowance
Loans with no related allowance recorded
 
 
 
 
 
Commercial & industrial
 
$
16,726

 
$
19,709

 
$
0

Lease financing
 
223

 
223

 
0

Construction real estate
 
0

 
0

 
0

Commercial real estate
 
10,160

 
17,897

 
0

Residential real estate
 
14,868

 
17,368

 
0

Home equity
 
5,700

 
6,462

 
0

Installment
 
204

 
341

 
0

Total
 
47,881

 
62,000

 
0

 
 
 
 
 
 
 
Loans with an allowance recorded
 
 
 
 
 
Commercial & industrial
 
10,754

 
21,513

 
2,044

Lease financing
 
0

 
0

 
0

Construction real estate
 
0

 
0

 
0

Commercial real estate
 
671

 
675

 
113

Residential real estate
 
294

 
294

 
18

Home equity
 
0

 
0

 
0

Installment
 
0

 
0

 
0

Total
 
11,719

 
22,482

 
2,175

 
 
 
 
 
 
 
Total
 
 
 
 
 
 
Commercial & industrial
 
27,480

 
41,222

 
2,044

Lease financing
 
223

 
223

 
0

Construction real estate
 
0

 
0

 
0

Commercial real estate
 
10,831

 
18,572

 
113

Residential real estate
 
15,162

 
17,662

 
18

Home equity
 
5,700

 
6,462

 
0

Installment
 
204

 
341

 
0

Total
 
$
59,600

 
$
84,482

 
$
2,175


 
 
 
 
 
 
 
 
 

First Financial's average impaired loans and interest income recognized by class for the three months ended March 31, 2019 were as follows:
 
 
Three months ended
 
 
March 31, 2019
(Dollars in thousands)
 
Average
Recorded
Investment
 
Interest
Income
Recognized
Loans with no related allowance recorded
 
 
 
 
Commercial & industrial
 
$
33,418

 
$
279

Lease financing
 
162

 
0

Construction real estate
 
9

 
0

Commercial real estate
 
23,111

 
103

Residential real estate
 
16,967

 
86

Home equity
 
6,288

 
38

Installment
 
174

 
1

Total
 
80,129

 
507

 
 
 
 
 
Loans with an allowance recorded
 
 
 
 
Commercial & industrial
 
2,111

 
43

Lease financing
 
0

 
0

Construction real estate
 
0

 
0

Commercial real estate
 
2,004

 
19

Residential real estate
 
300

 
2

Home equity
 
0

 
0

Installment
 
0

 
0

Total
 
4,415

 
64

 
 
 
 
 
Total
 
 
 
 
Commercial & industrial
 
35,529

 
322

Lease financing
 
162

 
0

Construction real estate
 
9

 
0

Commercial real estate
 
25,115

 
122

Residential real estate
 
17,267

 
88

Home equity
 
6,288

 
38

Installment
 
174

 
1

Total
 
$
84,544

 
$
571
Schedule of Collateral Dependent Loans [Table Text Block]
 
 
As of March 31, 2020
 
 
Type of Collateral
(Dollar in thousands)
 
Commercial real estate
 
Equipment
 
Residential real estate
 
Total
Class of loan
 
 
 
 
 
 
 
 
Commercial & industrial
 
$
0

 
$
10,755

 
$
0

 
$
10,755

Commercial real estate-investor
 
4,205

 
0

 
0

 
4,205

Commercial real estate-owner
 
333

 
0

 
0

 
333

Residential real estate
 
0

 
0

 
1,005

 
1,005

Total
 
$
4,538

 
$
10,755

 
$
1,005

 
$
16,298
Changes in Other Real Estate Owned
Changes in OREO were as follows:
 
 
Three months ended
 
 
March 31,
(Dollars in thousands)
 
2020
 
2019
Balance at beginning of period
 
$
2,033

 
$
1,401

Additions
 
 
 
 
Commercial & industrial
 
247

 
0

Residential real estate
 
146

 
504

Total additions
 
393

 
504

Disposals
 
 

 
 
Commercial & industrial
 
(179
)
 
(22
)
Residential real estate
 
(721
)
 
(161
)
Total disposals
 
(900
)
 
(183
)
Valuation adjustment
 
 

 
 
Commercial & industrial
 
0

 
0

Residential real estate
 
(59
)
 
(57
)
Total valuation adjustment
 
(59
)
 
(57
)
Balance at end of period
 
$
1,467

 
$
1,665