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Allowance for Credit Losses (Tables)
9 Months Ended
Sep. 30, 2020
Receivables [Abstract]  
Schedule of Allowance for Loan Losses
Activity in the allowance for credit losses is summarized as follows:
 Three Months Ended September 30, 2020
(In thousands)Beginning
Balance
Initial Allowance on PCD Loans Acquired During the Period
Provision
for Credit
Losses1
Charge-
Offs
RecoveriesTDR
Allowance
Adjustments
Ending
Balance
Construction and land development$7,161 $39 $475 $— $26 $— $7,701 
Commercial real estate - owner-occupied5,562 954 689 — 26 (12)7,219 
Commercial real estate - non owner-occupied38,992 2,096 (7,050)(25)— 34,018 
Residential real estate20,453 27 (3,196)(19)65 (5)17,325 
Commercial and financial15,514 2,632 8,081 (1,776)203 — 24,654 
Consumer3,568 15 (244)(355)114 (2)3,096 
Paycheck Protection Program— — — — — — — 
Totals$91,250 $5,763 $(1,245)$(2,175)$439 $(19)$94,013 
1In addition to a reversal of provision for credit losses on loans of $1.2 million in the third quarter of 2020, the Company also recorded a $0.4 million provision to establish a valuation allowance on accrued interest receivable.
 Three Months Ended September 30, 2019
(In thousands)Beginning
Balance
Provision
for Loan
Losses
Charge-
Offs
RecoveriesTDR
Allowance
Adjustments
Ending
Balance
Construction and land development$2,243 $(395)$— $$— $1,854 
Commercial real estate11,870 1,368 (232)10 (19)12,997 
Residential real estate7,508 87 (38)52 (20)7,589 
Commercial and financial8,912 769 (1,625)295 — 8,351 
Consumer2,972 422 (697)118 (1)2,814 
Totals$33,505 $2,251 $(2,592)$481 $(40)$33,605 

Nine Months Ended September 30, 2020
(In thousands)Beginning
Balance
Impact of Adoption of ASC 326 Initial Allowance on PCD Loans Acquired During the Period
Provision
for Credit
Losses1
Charge-
Offs
RecoveriesTDR
Allowance
Adjustments
Ending
Balance
Construction and land development$1,842 $1,479 $87 $4,202 $— $92 $(1)$7,701 
Commercial real estate - owner-occupied5,361 80 1,161 655 (45)44 (37)7,219 
Commercial real estate - non owner-occupied7,863 9,341 2,236 14,578 (37)37 — 34,018 
Residential real estate7,667 5,787 124 3,638 (150)283 (24)17,325 
Commercial and financial9,716 3,677 2,643 12,144 (4,642)1,116 — 24,654 
Consumer2,705 862 28 662 (1,442)284 (3)3,096 
Paycheck Protection Program— — — — — — — — 
Totals$35,154 $21,226 $6,279 $35,879 $(6,316)$1,856 $(65)$94,013 
1In addition to a reversal of provision for credit losses on loans of $1.2 million in the third quarter of 2020, the Company also recorded a $0.4 million provision to establish a valuation allowance on accrued interest receivable.
Nine Months Ended September 30, 2019
(In thousands)Beginning BalanceProvision for Loan LossesCharge- OffsRecoveriesTDR Allowance AdjustmentsEnding Balance
Construction and land development$2,233 $(391)$— $13 $(1)$1,854 
Commercial real estate11,112 1,560 (248)622 (49)12,997 
Residential real estate7,775 (276)(102)242 (50)7,589 
Commercial and financial8,585 3,736 (4,450)480 — 8,351 
Consumer2,718 1,570 (1,915)443 (2)2,814 
Totals$32,423 $6,199 $(6,715)$1,800 $(102)$33,605 
Schedule of Loan Portfolio, Excluding PCI Loans and Related Allowance
The allowance for credit losses is composed of specific allowances for loans individually evaluated and general allowances for loans grouped into loan pools based on similar characteristics, which are collectively evaluated. The Company’s loan portfolio and related allowance at September 30, 2020 and December 31, 2019 is shown in the following tables:
 
 September 30, 2020
 Individually Evaluated Collectively EvaluatedTotal
(In thousands)Recorded
Investment
Associated
Allowance
Recorded
Investment
Associated
Allowance
Recorded
Investment
Associated
Allowance
Construction and land development$723 $13 $279,887 $7,688 $280,610 $7,701 
Commercial real estate - owner-occupied5,590 788 1,119,870 6,431 1,125,460 7,219 
Commercial real estate - non owner-occupied12,902 1,863 1,381,562 32,155 1,394,464 34,018 
Residential real estate22,966 2,019 1,370,430 15,306 1,393,396 17,325 
Commercial and financial13,824 3,488 819,259 21,166 833,083 24,654 
Consumer615 116 191,601 2,980 192,216 3,096 
Paycheck Protection Program— — 638,800 — 638,800 — 
Totals$56,620 $8,287 $5,801,409 $85,726 $5,858,029 $94,013 

 December 31, 2019
 Individually Evaluated Collectively Evaluated
 Total
(In thousands)Recorded
Investment
Associated
Allowance
Recorded
Investment
Associated
Allowance
Recorded
Investment
Associated
Allowance
Construction and land development$5,217 $14 $319,896 $1,828 $325,113 $1,842 
Commercial real estate20,484 220 2,358,487 13,004 2,378,971 13,224 
Residential real estate16,093 834 1,491,770 6,833 1,507,863 7,667 
Commercial and financial6,631 1,731 771,621 7,985 778,252 9,716 
Consumer337 59 207,868 2,646 208,205 2,705 
Totals$48,762 $2,858 $5,149,642 $32,296 $5,198,404 $35,154