XML 38 R28.htm IDEA: XBRL DOCUMENT v3.20.2
Loans and Allowance (Tables)
 6 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
Schedule of 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:

June 30, 2020

December 31, 2019
Commercial and industrial loans
$
2,898,329


$
2,109,879

Agricultural production financing and other loans to farmers
93,838


93,861

Real estate loans:



Construction
640,560


787,568

Commercial and farmland
3,239,998


3,052,698

Residential
1,145,187


1,143,217

Home equity
532,314


588,984

Individuals' loans for household and other personal expenditures
123,611


135,989

Public finance and other commercial loans
624,704


547,114

  Loans
9,298,541


8,459,310

Allowance for loan losses
(121,119
)

(80,284
)
             Net Loans
$
9,177,422


$
8,379,026
Schedule of changes in allowance for loan losses
The following tables summarize changes in the allowance for loan losses by loan segment for the three and six months ended June 30, 2020 and June 30, 2019:
 
Three Months Ended June 30, 2020
 
Commercial

Commercial
Real Estate

Consumer

Residential

Total
Allowance for loan losses:
 

 

 

 

 
Balances, March 31, 2020
$
38,431


$
37,907


$
5,752


$
17,364


$
99,454

Provision for losses
6,240


8,945


2,783


3,927


21,895

Recoveries on loans
106


107


56


48


317

Loans charged off
(99
)

(41
)

(146
)

(261
)

(547
)
Balances, June 30, 2020
$
44,678


$
46,918


$
8,445


$
21,078


$
121,119



Six Months Ended June 30, 2020
 
Commercial

Commercial
Real Estate

Consumer

Residential

Total
Allowance for loan losses:
 

 

 

 

 
Balances, December 31, 2019
$
32,902


$
28,778


$
4,035


$
14,569


$
80,284

Provision for losses
11,941


18,139


4,707


6,860


41,647

Recoveries on loans
549


225


98


118


990

Loans charged off
(714
)

(224
)

(395
)

(469
)

(1,802
)
Balances, June 30, 2020
$
44,678


$
46,918


$
8,445


$
21,078


$
121,119



Three Months Ended June 30, 2019
 
Commercial

Commercial
Real Estate

Consumer

Residential

Total
Allowance for loan losses:
 

 

 

 

 
Balances, March 31, 2019
$
33,069


$
29,434


$
4,026


$
14,373


$
80,902

Provision for losses
100


320


36


44


500

Recoveries on loans
344


778


100


212


1,434

Loans charged off
(311
)

(1,001
)

(92
)

(158
)

(1,562
)
Balances, June 30, 2019
$
33,202


$
29,531


$
4,070


$
14,471


$
81,274


 
Six Months Ended June 30, 2019
 
Commercial

Commercial
Real Estate

Consumer

Residential

Total
Allowance for loan losses:
 

 

 

 

 
Balances, December 31, 2018
$
32,657


$
29,609


$
3,964


$
14,322


$
80,552

Provision for losses
336


1,089


141


134


1,700

Recoveries on loans
886


1,023


218


312


2,439

Loans charged off
(677
)

(2,190
)

(253
)

(297
)

(3,417
)
Balances, June 30, 2019
$
33,202


$
29,531


$
4,070


$
14,471


$
81,274
Schedule of 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.
 
June 30, 2020
 
Commercial

Commercial
Real Estate

Consumer

Residential

Total
Allowance Balances:
 

 

 

 

 
Individually evaluated for impairment
$
7,466


$
4,943


$
—


$
590


$
12,999

Collectively evaluated for impairment
37,212


41,975


8,445


20,488


108,120

Total Allowance for Loan Losses
$
44,678


$
46,918


$
8,445


$
21,078


$
121,119

Loan Balances:








 
Individually evaluated for impairment
$
15,312


$
26,512


$
3


$
3,453


$
45,280

Collectively evaluated for impairment
3,600,395


3,847,884


123,608


1,673,093


9,244,980

Loans acquired with deteriorated credit quality
1,164


6,162


—


955


8,281

Loans
$
3,616,871


$
3,880,558


$
123,611


$
1,677,501


$
9,298,541


 
December 31, 2019
 
Commercial

Commercial
Real Estate

Consumer

Residential

Total
Allowance Balances:
 

 

 

 

 
Individually evaluated for impairment
$
—


$
231


$
—


$
458


$
689

Collectively evaluated for impairment
32,902


28,547


4,035


14,111


79,595

Total Allowance for Loan Losses
$
32,902


$
28,778


$
4,035


$
14,569


$
80,284

Loan Balances:
 

 

 

 

 
Individually evaluated for impairment
$
457


$
8,728


$
4


$
2,520


$
11,709

Collectively evaluated for impairment
2,748,681


3,821,660


135,985


1,727,966


8,434,292

Loans acquired with deteriorated credit quality
1,716


9,878


—


1,715


13,309

Loans
$
2,750,854


$
3,840,266


$
135,989


$
1,732,201


$
8,459,310
Schedule 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:

June 30, 2020

December 31, 2019
Commercial and industrial loans
$
16,354


$
1,255

Agriculture production financing and other loans to farmers
—


183

Real estate loans:


 
Construction
119


977

Commercial and farmland
25,405


7,007

Residential
5,773


5,062

Home equity
2,376


1,421

Individuals' loans for household and other personal expenditures
75


44

Total
$
50,102


$
15,949
Schedule of 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:
 
June 30, 2020
 
Unpaid
Principal
Balance

Recorded
Investment

Related
Allowance
Impaired loans with no related allowance:
 

 


Commercial and industrial loans
$
5,024


$
5,008


$
—

Real estate Loans:





Commercial and farmland
9,675


7,602


—

Residential
75


59


—

Individuals' loans for household and other personal expenditures
3


3


—

Total
$
14,777


$
12,672


$
—

Impaired loans with related allowance:


 


Commercial and industrial loans
$
10,342


$
10,304


$
7,466

Real estate Loans:





Commercial and farmland
19,650


18,910


4,943

Residential
3,134


3,009


520

Home equity
401

 
385


70

Total
$
33,527


$
32,608


$
12,999

Total Impaired Loans
$
48,304


$
45,280


$
12,999


 
December 31, 2019
 
Unpaid
Principal
Balance
 
Recorded
Investment
 
Related
Allowance
Impaired loans with no related allowance:
 
 
 
 
 
Commercial and industrial loans
$
320

 
$
320

 
$
—

Agriculture production financing and other loans to farmers
299

 
137

 
—

Real estate Loans:
 
 
 
 
 
Construction
1,206

 
970

 
—

Commercial and farmland
8,037

 
5,849

 
—

Residential
93

 
76

 
—

Total
$
9,955

 
$
7,352

 
$
—

Impaired loans with related allowance:
 
 
 
 
 
Real estate Loans:
 
 
 
 
 
Commercial and farmland
$
2,648

 
$
1,909

 
$
231

Residential
2,070

 
2,044

 
383

       Home equity
417


400


75

Individuals' loans for household and other personal expenditures
4


4


—

Total
$
5,139

 
$
4,357

 
$
689

Total Impaired Loans
$
15,094

 
$
11,709

 
$
689

 
Three Months Ended June 30, 2020

Six Months Ended June 30, 2020
 
Average
Recorded Investment

Interest
Income Recognized

Average
Recorded Investment

Interest
Income Recognized
Impaired loans with no related allowance:
 

 


 

 
Commercial and industrial loans
$
5,008


$
—


$
5,008


$
—

Real estate Loans:







Commercial and farmland
7,637


37


7,910


75

Residential
59


1


59


2

Individuals' loans for household and other personal expenditures
3


—


3


—

Total
$
12,707


$
38


$
12,980


$
77

Impaired loans with related allowance:


 

 

 
Commercial and industrial loans
$
10,304


$
—


$
10,304


$
—

Real estate Loans:







Commercial and farmland
18,910


—


19,156


—

Residential
3,020


19


3,032


38

Home equity
387


3


390


6

Total
$
32,621


$
22


$
32,882


$
44

Total Impaired Loans
$
45,328


$
60


$
45,862


$
121

 
Three Months Ended June 30, 2019

Six Months Ended June 30, 2019
 
Average
Recorded Investment

Interest
Income Recognized

Average
Recorded Investment

Interest
Income Recognized
Impaired loans with no related allowance:
 

 


 

 
Commercial and industrial loans
$
1,013


$
—


$
1,021


$
—

Agriculture production financing and other loans to farmers
668


—


672


—

Real estate Loans:







Construction
7,314


—


7,792


—

Commercial and farmland
7,998


39


8,187


78

Residential
38


1


38


2

Home equity
49


—


49


—

Public finance and other commercial loans
353


—


353


—

Total
$
17,433


$
40


$
18,112


$
80

Impaired loans with related allowance:







Commercial and industrial loans
$
940


$
—


$
940


$
—

Agriculture production financing and other loans to farmers
2,117


—


2,134


—

Real estate Loans:







Commercial and farmland
157


—


164


—

Residential
2,021


16


2,029


32

Home equity
351


3


352


6

Individuals' loans for household and other personal expenditures
14


—


15


—

Total
$
5,600


$
19


$
5,634


$
38

Total Impaired Loans
$
23,033


$
59


$
23,746


$
118
Schedule of 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.
 
June 30, 2020
 
Commercial
Pass

Commercial
Special
Mention

Commercial Substandard

Commercial
Doubtful

Commercial Loss

Consumer Performing

Consumer
Non-Performing

Total
Commercial and industrial loans
$
2,722,071


$
87,069


$
89,189


$
—


$
—


$
—


$
—


$
2,898,329

Agriculture production financing and other loans to farmers
78,645


6,082


9,111


—


—


—


—


93,838

Real estate Loans:














 
Construction
590,889


791


20,229


—


—


28,536


115


640,560

Commercial and farmland
3,035,363


103,921


99,330


—


—


1,384


—


3,239,998

Residential
189,053


1,637


6,684


—


—


943,222


4,591


1,145,187

Home equity
20,214


—


1,342


—


—


508,457


2,301


532,314

Individuals' loans for household and other personal expenditures
—


—


—


—


—


123,524


87


123,611

Public finance and other commercial loans
624,655


49


—


—


—


—


—


624,704

Loans
$
7,260,890


$
199,549


$
225,885


$
—


$
—


$
1,605,123


$
7,094


$
9,298,541


 
December 31, 2019
 
Commercial
Pass

Commercial
Special
Mention

Commercial Substandard

Commercial
Doubtful

Commercial Loss

Consumer Performing

Consumer
Non-Performing

Total
Commercial and industrial loans
$
1,956,985


$
81,179


$
71,715


$
—


$
—


$
—


$
—


$
2,109,879

Agriculture production financing and other loans to farmers
78,558


5,626


9,677


—


—


—


—


93,861

Real estate Loans:


 







 

 

 
Construction
749,249


1,613


1,634


—


—


35,072


—


787,568

Commercial and farmland
2,894,366


57,776


98,575


—


—


1,981


—


3,052,698

Residential
196,710


877


8,075


—


—


932,743


4,812


1,143,217

Home equity
24,211


257


682


—


—


562,507


1,327


588,984

Individuals' loans for household and other personal expenditures
—


—


—


—


—


135,944


45


135,989

Public finance and other commercial loans
547,114


—


—


—


—


—


—


547,114

Loans
$
6,447,193


$
147,328


$
190,358


$
—


$
—


$
1,668,247


$
6,184


$
8,459,310
Schedule of 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 June 30, 2020, and December 31, 2019:
 
June 30, 2020
 
Current

30-59 Days
Past Due

60-89 Days
Past Due

Loans 90 Days or More Past Due And Accruing

Non-Accrual

Total Past Due
& Non-Accrual

Total
Commercial and industrial loans
$
2,871,366


$
9,435


$
1,038


$
136


$
16,354


$
26,963


$
2,898,329

Agriculture production financing and other loans to farmers
92,735


1,103


—


—


—


1,103


93,838

Real estate loans:










 


Construction
634,706


5,235


500


—


119


5,854


640,560

Commercial and farmland
3,172,688


18,948


18,458


4,499


25,405


67,310


3,239,998

Residential
1,136,131


2,679


329


275


5,773


9,056


1,145,187

Home equity
526,096


2,110


1,673


59


2,376


6,218


532,314

Individuals' loans for household and other personal expenditures
123,126


227


171


12


75


485


123,611

Public finance and other commercial loans
624,704


—


—


—


—


—


624,704

Loans
$
9,181,552


$
39,737


$
22,169


$
4,981


$
50,102


$
116,989


$
9,298,541

 
December 31, 2019
 
Current

30-59 Days
Past Due

60-89 Days
Past Due

Loans 90 Days or More Past Due And Accruing

Non-Accrual

Total Past Due
& Non-Accrual

Total
Commercial and industrial loans
$
2,105,445


$
3,039


$
136


$
4


$
1,255


$
4,434


$
2,109,879

Agriculture production financing and other loans to farmers
93,678


—


—


—


183


183


93,861

Real estate loans:
 

 

 

 





 
Construction
784,961


1,630


—


—


977


2,607


787,568

Commercial and farmland
3,043,318


2,324


49


—


7,007


9,380


3,052,698

Residential
1,133,476


4,290


367


22


5,062


9,741


1,143,217

Home equity
584,023


2,960


538


42


1,421


4,961


588,984

Individuals' loans for household and other personal expenditures
135,399


440


105


1


44


590


135,989

Public finance and other commercial loans
547,114


—


—


—


—


—


547,114

Loans
$
8,427,414


$
14,683


$
1,195


$
69


$
15,949


$
31,896


$
8,459,310
Schedules of troubled debt restructurings

The following tables summarize troubled debt restructures at the time of modification that occurred during the periods indicated:

Three Months Ended June 30, 2020

Six Months Ended June 30, 2020

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
$
654


$
654


3


$
654


$
654


3

Real estate loans:
 

 

 

 

 

 
Commercial and farmland
565


565


2


565


565


2

Residential
300


337


6


300


337


6

Total
$
1,519


$
1,556


11


$
1,519


$
1,556


11


Three Months Ended June 30, 2019

Six Months Ended June 30, 2019

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
$
171

 
$
164

 
4


$
261


$
254


5

Total
$
171

 
$
164

 
4


$
261


$
254


5




The following tables summarize by modification type, the recorded investment of troubled debt restructures as of June 30, 2020 and 2019, that occurred during the periods indicated:

Three Months Ended June 30, 2020

Term
Modification

Rate
Modification

Combination

Total
Modification
Commercial and industrial loans
$
652

 
$
—

 
$
—

 
$
652

Real estate loans:
 

 

 


Commercial and farmland
565


—


—


565

Residential
—


111


223


334

Total
$
1,217


$
111


$
223


$
1,551


Six Months Ended June 30, 2020

Term
Modification

Rate
Modification

Combination

Total
Modification
Commercial and industrial loans
$
652


$
—


$
—


$
652

Real estate loans:
 

 

 


Commercial and farmland
565


—


—


565

Residential
—


111


223


334

Total
$
1,217


$
111


$
223


$
1,551


Three Months Ended June 30, 2019

Term
Modification

Rate
Modification

Combination

Total
Modification
Real estate loans:
 

 

 


Residential
$
—


$
—


$
164


$
164

Total
$
—


$
—


$
164


$
164



Six Months Ended June 30, 2019

Term
Modification

Rate
Modification

Combination

Total
Modification
Real estate loans:




 

 
Residential
$
—


$
89


$
164


$
253

Total
$
—


$
89


$
164


$
253
Schedule of troubled debt restructurings that subsequently defaulted A loan is considered in default if it is 30-days or more past due.

Three Months Ended June 30, 2020

Six Months Ended June 30, 2020

Number of Loans

Recorded Balance

Number of Loans

Recorded Balance
Commercial and industrial loans
1


$
268


1


$
268

Total
1


$
268


1


$
268


Three Months Ended June 30, 2019

Six Months Ended June 30, 2019

Number of Loans

Recorded Balance

Number of Loans

Recorded Balance
Real estate loans:
 

 

 


 
Residential
1
 
$
62


1


$
62

Total
1
 
$
62


1


$
62