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Loans and Allowance (Tables)
 9 Months Ended
Sep. 30, 2018
Receivables [Abstract]  
Composition of loan portfolio by loan class
The following table illustrates the composition of the Corporation’s loan portfolio by loan class for the periods indicated:

September 30, 2018

December 31, 2017
Commercial and industrial loans
$
1,655,569


$
1,493,493

Agricultural production financing and other loans to farmers
88,504


121,757

Real estate loans:
 


Construction
668,608


612,219

Commercial and farmland
2,699,629


2,562,691

Residential
965,893


962,765

Home equity
517,303


514,021

Individuals' loans for household and other personal expenditures
98,709


86,935

Lease financing receivables, net of unearned income
1,830


2,527

Other commercial loans
392,026


394,791

  Loans
$
7,088,071


$
6,751,199

Allowance for loan losses
(78,406
)

(75,032
)
             Net Loans
$
7,009,665


$
6,676,167
Changes in allowance for loan losses
The following tables summarize changes in the allowance for loan losses by loan segment for the three and nine months ended September 30, 2018 and September 30, 2017:
 
Three Months Ended September 30, 2018
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance for loan losses:
 

 

 

 

 

 
Balances, June 30, 2018
$
31,465


$
27,731


$
3,921


$
14,424


$
2


$
77,543

Provision for losses
256


410


159


575




1,400

Recoveries on loans
658


306


46


165




1,175

Loans charged off
(313
)

(501
)

(194
)

(704
)



(1,712
)
Balances, September 30, 2018
$
32,066


$
27,946


$
3,932


$
14,460


$
2


$
78,406

 
Nine Months Ended September 30, 2018
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance for loan losses:
 

 

 

 

 

 
Balances, December 31, 2017
$
30,418


$
27,343


$
3,732


$
13,537


$
2


$
75,032

Provision for losses
1,567


1,448


493


2,055




5,563

Recoveries on loans
2,060


1,858


233


915




5,066

Loans charged off
(1,979
)

(2,703
)

(526
)

(2,047
)



(7,255
)
Balances, September 30, 2018
$
32,066


$
27,946


$
3,932


$
14,460


$
2


$
78,406



Three Months Ended September 30, 2017
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance for loan losses:
 

 

 

 

 

 
Balances, June 30, 2017
$
28,906


$
25,236


$
3,372


$
12,955


$
2


$
70,471

Provision for losses
921


374


342


446





2,083

Recoveries on loans
324


1,327


51


157





1,859

Loans charged off
(468
)

(190
)

(174
)

(227
)



(1,059
)
Balances, September 30, 2017
$
29,683


$
26,747


$
3,591


$
13,331


$
2


$
73,354

 
Nine Months Ended September 30, 2017
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance for loan losses:
 

 

 

 

 

 
Balances, December 31, 2016
$
27,696


$
23,661


$
2,923


$
11,755


$
2


$
66,037

Provision for losses
2,279


2,023


877


2,164





7,343

Recoveries on loans
987


2,066


253


547





3,853

Loans charged off
(1,279
)

(1,003
)

(462
)

(1,135
)



(3,879
)
Balances, September 30, 2017
$
29,683


$
26,747


$
3,591


$
13,331


$
2


$
73,354
Allowance for credit losses and loan portfolio by loan segment
The tables below show the Corporation’s allowance for loan losses and loan portfolio by loan segment as of the periods indicated. There was no related allowance for loan losses for loans acquired with deteriorated credit quality at September 30, 2018 or December 31, 2017.
 
September 30, 2018
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance Balances:
 

 

 

 

 

 
Individually evaluated for impairment








$
433




$
433

Collectively evaluated for impairment
$
32,066


$
27,946


$
3,932


14,027


$
2


77,973

Total Allowance for Loan Losses
$
32,066


$
27,946


$
3,932


$
14,460


$
2


$
78,406

Loan Balances:










 
Individually evaluated for impairment
$
1,614


$
12,158


$
8


$
2,219




$
15,999

Collectively evaluated for impairment
2,132,193


3,340,898


98,701


1,479,371


$
1,830


7,052,993

Loans acquired with deteriorated credit quality
2,292


15,181





1,606





19,079

Loans
$
2,136,099


$
3,368,237


$
98,709


$
1,483,196


$
1,830


$
7,088,071


 
December 31, 2017
 
Commercial

Commercial
Real Estate

Consumer

Residential

Finance
Leases

Total
Allowance Balances:
 

 

 

 

 

 
Individually evaluated for impairment
$
666


$
567




$
404




$
1,637

Collectively evaluated for impairment
29,752


26,776


$
3,732


13,133


$
2


73,395

Total Allowance for Loan Losses
$
30,418


$
27,343


$
3,732


$
13,537


$
2


$
75,032

Loan Balances:
 

 

 

 

 

 
Individually evaluated for impairment
$
3,345


$
17,432


$
5


$
2,429




$
23,211

Collectively evaluated for impairment
2,005,275


3,135,481


86,930


1,472,821


$
2,527


6,703,034

Loans acquired with deteriorated credit quality
1,421


21,997





1,536





24,954

Loans
$
2,010,041


$
3,174,910


$
86,935


$
1,476,786


$
2,527


$
6,751,199

 
Summary of non-accrual loans by loan class
The following table summarizes the Corporation’s non-accrual loans by loan class as of the periods indicated:

September 30, 2018

December 31, 2017
Commercial and industrial loans
$
2,287


$
3,275

Agriculture production financing and other loans to farmers
640


1,027

Real estate loans:
 

 
Construction
764


65

Commercial and farmland
10,406


12,951

Residential
5,140


9,444

Home equity
1,126


1,928

Individuals' loans for household and other personal expenditures
58


34

Total
$
20,421


$
28,724
Composition of impaired loans by loan class
The following tables show the composition of the Corporation’s impaired loans, related allowance and interest income recognized while impaired by loan class as of the periods indicated:
 
September 30, 2018
 
Unpaid
Principal
Balance

Recorded
Investment

Related
Allowance
Impaired loans with no related allowance:
 

 


Commercial and industrial loans
$
6,133


$
974




Agriculture production financing and other loans to farmers
660


640




Real estate Loans:





Construction
1,352


614




Commercial and farmland
13,717


11,544




Residential
81


62




Individuals' loans for household and other personal expenditures
8


8

 
 
Total
$
21,951


$
13,842




Impaired loans with related allowance:
 

 


Real estate Loans:





Residential
$
1,849


$
1,794


$
357

Home equity
382

 
363

 
76

Total
$
2,231


$
2,157


$
433

Total Impaired Loans
$
24,182


$
15,999


$
433


 
December 31, 2017
 
Unpaid
Principal
Balance
 
Recorded
Investment
 
Related
Allowance
Impaired loans with no related allowance:
 
 
 
 
 
Commercial and industrial loans
$
7,611

 
$
1,536

 
 
Agriculture production financing and other loans to farmers
732

 
700

 
 
Real estate Loans:
 
 
 
 
 
Commercial and farmland
16,758

 
15,162

 
 
Residential
833

 
519

 
 
Home equity
40

 
8

 
 
Individuals' loans for household and other personal expenditures
5


5

 
 
Total
$
25,979

 
$
17,930

 
 
Impaired loans with related allowance:
 
 
 
 
 
Commercial and industrial loans
$
812

 
$
782

 
$
552

Agriculture production financing and other loans to farmers
357


327


114

Real estate Loans:
 
 
 
 
 
Commercial and farmland
2,989

 
2,270

 
567

Residential
1,616

 
1,572

 
327

       Home equity
349


330


77

Total
$
6,123

 
$
5,281

 
$
1,637

Total Impaired Loans
$
32,102

 
$
23,211

 
$
1,637


 
Three Months Ended September 30, 2018

Nine Months Ended September 30, 2018
 
Average
Recorded Investment

Interest
Income Recognized

Average
Recorded Investment

Interest
Income Recognized
Impaired loans with no related allowance:
 

 

 

 
Commercial and industrial loans
$
979





$
994



Agriculture production financing and other loans to farmers
640




640



Real estate Loans:







Construction
614





930



Commercial and farmland
12,098


$
40


12,733


$
128

Residential
62


1


63


2

Individuals' loans for household and other personal expenditures
9




10



Total
$
14,402


$
41


$
15,370


$
130

Impaired loans with related allowance:


 

 

 
Real estate Loans:







Residential
$
1,797


$
13


$
1,812


$
37

Home equity
364


3


367


8

Total
$
2,161


$
16


$
2,179


$
45

Total Impaired Loans
$
16,563


$
57


$
17,549


$
175

 
Three Months Ended September 30, 2017

Nine Months Ended September 30, 2017
 
Average
Recorded Investment

Interest
Income Recognized

Average
Recorded Investment

Interest
Income Recognized
Impaired loans with no related allowance:
 

 

 

 
Commercial and industrial loans
$
2,103





$
4,567




Agriculture production financing and other loans to farmers
945




945



Real estate Loans:







Commercial and farmland
14,129


$
89


15,483


$
267

Residential
588





673


2

Home equity
11





16




Individuals' loans for household and other personal expenditures
6




7



Total
$
17,782


$
89


$
21,691


$
269

Impaired loans with related allowance:







Commercial and industrial loans
$
1,796




$
1,796




Agriculture production financing and other loans to farmers
337





337




Real estate Loans:







Commercial and farmland
3,359





3,374




Residential
1,403


$
8


1,395


$
25

Home equity
331


2


334


6

Total
$
7,226


$
10


$
7,236


$
31

Total Impaired Loans
$
25,008


$
99


$
28,927


$
300
Credit quality of loan portfolio by loan class
The following tables summarize the credit quality of the Corporation’s loan portfolio, by loan class for the periods indicated. Consumer non-performing loans include accruing consumer loans 90-days or more delinquent and consumer non-accrual loans. The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified date. Loans that evidenced deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected are included in the applicable categories below.
 
September 30, 2018
 
Commercial
Pass

Commercial
Special
Mention

Commercial Substandard

Commercial
Doubtful

Commercial Loss

Consumer Performing

Consumer
Non-Performing

Total
Commercial and industrial loans
$
1,587,560


$
18,085


$
49,924










$
1,655,569

Agriculture production financing and other loans to farmers
68,556


7,144


12,804










88,504

Real estate Loans:














 
Construction
629,244


2,533


10,200






$
26,494


$
137


668,608

Commercial and farmland
2,551,541


67,043


78,694






2,350


1


2,699,629

Residential
175,315


5,119


2,377






778,086


4,996


965,893

Home equity
25,435


750


387






489,631


1,100


517,303

Individuals' loans for household and other personal expenditures










98,600


109


98,709

Lease financing receivables, net of unearned income
1,830
















1,830

Other commercial loans
391,673




353










392,026

Loans
$
5,431,154


$
100,674


$
154,739






$
1,395,161


$
6,343


$
7,088,071


 
December 31, 2017
 
Commercial
Pass

Commercial
Special
Mention

Commercial Substandard

Commercial
Doubtful

Commercial Loss

Consumer Performing

Consumer
Non-Performing

Total
Commercial and industrial loans
$
1,418,401


$
51,336


$
23,386


$
370





 

 

$
1,493,493

Agriculture production financing and other loans to farmers
73,800


27,502


20,018


387


$
50


 

 

121,757

Real estate Loans:


 



 



 

 

 
Construction
587,906


828


981


 



$
22,374


$
130


612,219

Commercial and farmland
2,408,329


70,074


79,769


1,536





2,980


3


2,562,691

Residential
185,725


4,376


4,209


114





759,900


8,441


962,765

Home equity
28,554


457


286


 



482,661


2,063


514,021

Individuals' loans for household and other personal expenditures
 

 

 

 



86,875


60


86,935

Lease financing receivables, net of unearned income
2,527


 



 








2,527

Other commercial loans
394,222





569


 





 

 

394,791

Loans
$
5,099,464


$
154,573


$
129,218


$
2,407


$
50


$
1,354,790


$
10,697


$
6,751,199
Past due aging of loan portfolio by loan class
The tables below show a past due aging of the Corporation’s loan portfolio, by loan class, as of September 30, 2018, and December 31, 2017:
 
September 30, 2018
 
Current

30-59 Days
Past Due

60-89 Days
Past Due

90 Days or More Past Due

Non-Accrual

Total Past Due
& Non-Accrual

Total
Commercial and industrial loans
$
1,649,538


$
3,344


$
400





$
2,287


$
6,031


$
1,655,569

Agriculture production financing and other loans to farmers
87,864











640


640


88,504

Real estate loans:










 


Construction
667,142





702




764


1,466


668,608

Commercial and farmland
2,683,494


1,859


3,870





10,406


16,135


2,699,629

Residential
955,383


4,873


497





5,140


10,510


965,893

Home equity
513,936


1,506


735





1,126


3,367


517,303

Individuals' loans for household and other personal expenditures
98,044


394


163


$
50


58


665


98,709

Lease financing receivables, net of unearned income
1,830














1,830

Other commercial loans
392,026














392,026

Loans
$
7,049,257


$
11,976


$
6,367


$
50


$
20,421


$
38,814


$
7,088,071


 
December 31, 2017
 
Current

30-59 Days
Past Due

60-89 Days
Past Due

90 Days or More Past Due

Non-Accrual

Total Past Due
& Non-Accrual

Total
Commercial and industrial loans
$
1,487,221


$
2,967


$
30





$
3,275


$
6,272


$
1,493,493

Agriculture production financing and other loans to farmers
120,720


10






1,027


1,037


121,757

Real estate loans:
 

 

 

 

 



 
Construction
610,896


1,193





$
65


65


1,323


612,219

Commercial and farmland
2,542,048


6,923


166


603


12,951


20,643


2,562,691

Residential
948,947


4,010


308


56


9,444


13,818


962,765

Home equity
510,362


1,372


184


175


1,928


3,659


514,021

Individuals' loans for household and other personal expenditures
85,744


298


834


25


34


1,191


86,935

Lease financing receivables, net of unearned income
2,527


 

 

 





2,527

Other commercial loans
394,791


 



 







394,791

Loans
$
6,703,256


$
16,773


$
1,522


$
924


$
28,724


$
47,943


$
6,751,199
Schedules of troubled debt restructurings
The following tables summarize troubled debt restructures in the Corporation's loan portfolio that occurred during the periods indicated:

Three Months Ended September 30, 2018

Nine Months Ended September 30, 2018

Pre-Modification
Recorded Balance

Post-Modification
Recorded Balance

Number
of Loans

Pre-Modification
Recorded Balance

Post-Modification
Recorded Balance

Number
of Loans
Real estate loans:
 

 

 

 

 

 
Residential
$
154


$
140


4


$
490


$
487


11

Home equity
65


65


1


81


81


3

Individuals' loans for household and other personal expenditures









7


8


1

Total
$
219


$
205


5


$
578


$
576


15


Three Months Ended September 30, 2017

Nine Months Ended September 30, 2017

Pre-Modification
Recorded Balance

Post-Modification
Recorded Balance

Number
of Loans

Pre-Modification
Recorded Balance

Post-Modification
Recorded Balance

Number
of Loans
Commercial and industrial loans
$
6

 
$
6

 
1


$
400


$
176


2

Real estate loans:
 
 
 
 
 

 

 

 
Commercial and farmland


 


 



357


492


6

Residential
120

 
122

 
1


570


520


8

Home equity
68

 
73

 
2

 
190

 
73

 
2

Total
$
194

 
$
201

 
4


$
1,517


$
1,261


18





The following tables summarize the recorded investment of troubled debt restructures as of September 30, 2018 and 2017, by modification type, that occurred during the periods indicated:

Three Months Ended September 30, 2018

Term
Modification

Rate
Modification

Combination

Total
Modification
Real estate loans:
 

 

 


Residential


$
47


$
93


$
140

           Home equity


65





65

Total


$
112


$
93


$
205


Nine Months Ended September 30, 2018

Term
Modification

Rate
Modification

Combination

Total
Modification
Real estate loans:
 

 

 

 
Residential



$
208


$
239


$
447

           Home Equity
$
77

 
76

 


 
153

Individuals' loans for household and other personal expenditures


6





6

Total
$
77


$
290


$
239


$
606


Three Months Ended September 30, 2017

Term
Modification

Rate
Modification

Combination

Total
Modification
Commercial and industrial loans
$
5






$
5

Real estate loans:
 

 

 


Residential



$
122




122

Home equity



73




73

Total
$
5


$
195




$
200



Nine Months Ended September 30, 2017

Term
Modification

Rate
Modification

Combination

Total
Modification
Commercial and industrial loans
$
5




$
168


$
173

Real estate loans:


 

 

 
Commercial and farmland
41


$
61


232


334

Residential



466


42


508

Home equity



73





73

Total
$
46


$
600


$
442


$
1,088
Troubled debt restructurings that subsequently defaulted
A loan is considered in default if it is 30 or more days past due.

Three Months Ended September 30, 2018

Nine Months Ended September 30, 2018

Number of Loans

Recorded Balance

Number of Loans

Recorded Balance
Real estate loans:
 

 

 

 
Commercial and farmland
1


$
262


1


$
262

Residential
2


83


4


152

Individuals' loans for household and other personal expenditures
1


11


1


11

Total
4


$
356


6


$
425