XML 85 R25.htm IDEA: XBRL DOCUMENT v3.20.1
Loans (Tables)
 3 Months Ended
Mar. 31, 2020
Receivables [Abstract]  
Schedule of Net Loans
Total net loans at March 31, 2020 and December 31, 2019 are summarized as follows:
 
March 31, 2020
 
December 31, 2019
Commercial, industrial and agricultural
$
1,090,915

 
$
1,046,665

Commercial mortgages
846,215

 
814,002

Residential real estate
814,657

 
814,030

Consumer
94,425

 
124,785

Credit cards
8,683

 
7,569

Overdrafts
311

 
2,146

Less: unearned discount
(4,546
)
 
(5,162
)
allowance for loan losses
(21,915
)
 
(19,473
)
Loans, net
$
2,828,745

 
$
2,784,562
Allowance for Loan Losses
Transactions in the allowance for loan losses for the three months ended March 31, 2020 were as follows:
 
Commercial,Industrial 
and Agricultural
 
Commercial
Mortgages
 
Residential
Real
Estate
 
Consumer
 
Credit
Cards
 
Overdrafts
 
Total
Allowance for loan losses, January 1, 2020
$
8,287

 
$
6,952

 
$
1,499

 
$
2,411

 
$
84

 
$
240

 
$
19,473

Charge-offs
(25
)
 
0

 
(143
)
 
(592
)
 
(31
)
 
(119
)
 
(910
)
Recoveries
18

 
172

 
3

 
43

 
1

 
36

 
273

Provision (benefit) for loan losses
2,252

 
368

 
99

 
276

 
58

 
26

 
3,079

Allowance for loan losses, March 31, 2020
$
10,532

 
$
7,492

 
$
1,458

 
$
2,138

 
$
112

 
$
183

 
$
21,915

Transactions in the allowance for loan losses for the three months ended March 31, 2019 were as follows:
 
Commercial, Industrial 
and
Agricultural
 
Commercial
Mortgages
 
Residential
Real
Estate
 
Consumer
 
Credit
Cards
 
Overdrafts
 
Total
Allowance for loan losses, January 1, 2019
$
7,341

 
$
7,490

 
$
2,156

 
$
2,377

 
$
103

 
$
237

 
$
19,704

Charge-offs
0

 
(17
)
 
(98
)
 
(549
)
 
(26
)
 
(128
)
 
(818
)
Recoveries
4

 
0

 
65

 
46

 
5

 
34

 
154

Provision (benefit) for loan losses
442

 
1,373

 
(740
)
 
166

 
23

 
42

 
1,306

Allowance for loan losses, March 31, 2019
$
7,787

 
$
8,846

 
$
1,383

 
$
2,040

 
$
105

 
$
185

 
$
20,346
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and is based on the Corporation’s impairment method as of March 31, 2020 and December 31, 2019. The recorded investment in loans excludes accrued interest and unearned discounts due to their insignificance.

March 31, 2020
 
Commercial, Industrial 
and
Agricultural
 
Commercial
Mortgages
 
Residential
Real
Estate
 
Consumer
 
Credit
Cards
 
Overdrafts
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending allowance balance attributable to loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
3,489

 
$
1,264

 
$
51

 
$
0

 
$
0

 
$
0

 
$
4,804

Collectively evaluated for impairment
7,009

 
5,912

 
1,407

 
2,138

 
112

 
183

 
16,761

Acquired with deteriorated credit quality
0

 
0

 
0

 
0

 
0

 
0

 
0

Modified in a troubled debt restructuring
34

 
316

 
0

 
0

 
0

 
0

 
350

Total ending allowance balance
$
10,532

 
$
7,492

 
$
1,458

 
$
2,138

 
$
112

 
$
183

 
$
21,915

Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
8,663

 
$
12,172

 
$
460

 
$
0

 
$
0

 
$
0

 
$
21,295

Collectively evaluated for impairment
1,079,220

 
826,966

 
814,197

 
94,425

 
8,683

 
311

 
2,823,802

Acquired with deteriorated credit quality
0

 
512

 
0

 
0

 
0

 
0

 
512

Modified in a troubled debt restructuring
3,032

 
6,565

 
0

 
0

 
0

 
0

 
9,597

Total ending loans balance
$
1,090,915

 
$
846,215

 
$
814,657

 
$
94,425

 
$
8,683

 
$
311

 
$
2,855,206


December 31, 2019
 
Commercial, Industrial 
and
Agricultural
 
Commercial
Mortgages
 
Residential
Real
Estate
 
Consumer
 
Credit
Cards
 
Overdrafts
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending allowance balance attributable to loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
645

 
$
1,264

 
$
34

 
$
0

 
$
0

 
$
0

 
$
1,943

Collectively evaluated for impairment
7,614

 
5,358

 
1,465

 
2,411

 
84

 
240

 
17,172

Acquired with deteriorated credit quality
0

 
0

 
0

 
0

 
0

 
0

 
0

Modified in a troubled debt restructuring
28

 
330

 
0

 
0

 
0

 
0

 
358

Total ending allowance balance
$
8,287

 
$
6,952

 
$
1,499

 
$
2,411

 
$
84

 
$
240

 
$
19,473

Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
8,078

 
$
2,410

 
$
465

 
$
0

 
$
0

 
$
0

 
$
10,953

Collectively evaluated for impairment
1,035,494

 
804,360

 
813,565

 
124,785

 
7,569

 
2,146

 
2,787,919

Acquired with deteriorated credit quality
0

 
523

 
0

 
0

 
0

 
0

 
523

Modified in a troubled debt restructuring
3,093

 
6,709

 
0

 
0

 
0

 
0

 
9,802

Total ending loans balance
$
1,046,665

 
$
814,002

 
$
814,030

 
$
124,785

 
$
7,569

 
$
2,146

 
$
2,809,197
Loans Individually Evaluated for Impairment Including Loans Modified in Troubled Debt Restructurings by Portfolio Segment
The following tables present information related to loans individually evaluated for impairment, including loans modified in troubled debt restructurings, by portfolio segment as of March 31, 2020 and December 31, 2019 and for the three months ended March 31, 2020 and 2019:
March 31, 2020
 
Unpaid Principal
Balance
 
Recorded
Investment
 
Allowance for Loan
Losses Allocated
With an allowance recorded:
 
 
 
 
 
Commercial, industrial and agricultural
$
7,111

 
$
7,068

 
$
3,523

Commercial mortgage
6,542

 
4,312

 
1,580

Residential real estate
480

 
460

 
51

With no related allowance recorded:
 
 
 
 
 
Commercial, industrial and agricultural
4,780

 
4,627

 
0

Commercial mortgage
14,666

 
14,425

 
0

Residential real estate
0

 
0

 
0

Total
$
33,579

 
$
30,892

 
$
5,154

December 31, 2019
 
Unpaid Principal
Balance
 
Recorded
Investment
 
Allowance for Loan
Losses Allocated
With an allowance recorded:
 
 
 
 
 
Commercial, industrial and agricultural
$
2,657

 
$
1,476

 
$
673

Commercial mortgage
6,541

 
4,349

 
1,594

Residential real estate
485

 
465

 
34

With no related allowance recorded:
 
 
 
 
 
Commercial, industrial and agricultural
9,845

 
9,695

 
0

Commercial mortgage
4,903

 
4,770

 
0

Residential real estate
0

 
0

 
0

Total
$
24,431

 
$
20,755

 
$
2,301
Impaired Financing Receivables with Related and not Related Allowances
The unpaid principal balance of impaired loans includes the Corporation’s recorded investment in the loan and amounts that have been charged off.
 
Three months ended March 31, 2020
 
Three months ended March 31, 2019
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Cash Basis
Interest
Recognized
 
Average
Recorded
Investment
 
Interest
Income
Recognized
 
Cash Basis
Interest
Recognized
With an allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial and agricultural
$
4,272

 
$
17

 
$
17

 
$
2,158

 
$
38

 
$
38

Commercial mortgage
4,331

 
37

 
37

 
7,267

 
40

 
40

Residential real estate
463

 
5

 
5

 
0

 
0

 
0

With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Commercial, industrial and agricultural
7,161

 
42

 
42

 
3,376

 
54

 
54

Commercial mortgage
9,598

 
158

 
158

 
4,065

 
18

 
18

Residential real estate
0

 
0

 
0

 
500

 
7

 
7

Total
$
25,825

 
$
259

 
$
259

 
$
17,366

 
$
157

 
$
157
Nonaccrual Loans and Loans Past Due over 90 Days Still Accruing Interest by Class of Loans
The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days still on accrual by class of loans as of March 31, 2020 and December 31, 2019:
 
March 31, 2020
 
December 31, 2019
 
Nonaccrual
 
Past Due
Over 90 Days
Still on Accrual
 
Nonaccrual
 
Past Due
Over 90 Days
Still on Accrual
Commercial, industrial and agricultural
$
12,144

 
$
16

 
$
11,644

 
$
0

Commercial mortgages
14,237

 
0

 
4,533

 
0

Residential real estate
4,663

 
0

 
4,724

 
59

Consumer
810

 
0

 
835

 
0

Credit cards
0

 
17

 
0

 
2

Total
$
31,854

 
$
33

 
$
21,736

 
$
61
Aging of Recorded Investment in Past Due Loans
The following table presents the aging of the recorded investment in past due loans as of March 31, 2020 and December 31, 2019 by class of loans.
March 31, 2020
 
30-59 Days
Past Due
 
60-89 Days
Past Due
 
Greater Than
89 Days
Past Due
 
Total
Past Due
 
Loans Not
Past Due
 
Total
Commercial, industrial and agricultural
$
2,604

 
$
6,251

 
$
4,809

 
$
13,664

 
$
1,077,251

 
$
1,090,915

Commercial mortgages
11,773

 
179

 
2,599

 
14,551

 
831,664

 
846,215

Residential real estate
3,285

 
623

 
2,601

 
6,509

 
808,148

 
814,657

Consumer
450

 
238

 
433

 
1,121

 
93,304

 
94,425

Credit cards
33

 
33

 
17

 
83

 
8,600

 
8,683

Overdrafts
0

 
0

 
0

 
0

 
311

 
311

Total
$
18,145

 
$
7,324

 
$
10,459

 
$
35,928

 
$
2,819,278

 
$
2,855,206


December 31, 2019
 
30-59 Days
Past Due
 
60-89 Days
Past Due
 
Greater Than
89 Days
Past Due
 
Total
Past Due
 
Loans Not
Past Due
 
Total
Commercial, industrial and agricultural
$
1,273

 
$
548

 
$
3,784

 
$
5,605

 
$
1,041,060

 
$
1,046,665

Commercial mortgages
162

 
183

 
2,594

 
2,939

 
811,063

 
814,002

Residential real estate
3,383

 
1,270

 
2,714

 
7,367

 
806,663

 
814,030

Consumer
412

 
311

 
415

 
1,138

 
123,647

 
124,785

Credit cards
48

 
54

 
2

 
104

 
7,465

 
7,569

Overdrafts
0

 
0

 
0

 
0

 
2,146

 
2,146

Total
$
5,278

 
$
2,366

 
$
9,509

 
$
17,153

 
$
2,792,044

 
$
2,809,197
Restructured in Troubled Debt
The following table presents the number of loans, loan balances, and specific reserves for loans that have been restructured in a troubled debt restructuring as of March 31, 2020 and December 31, 2019.
 
March 31, 2020
 
December 31, 2019
 
Number of
Loans
 
Loan
Balance
 
Specific
Reserve
 
Number of
Loans
 
Loan
Balance
 
Specific
Reserve
Commercial, industrial and agricultural
10

 
$
3,032

 
$
34

 
10

 
$
3,093

 
$
28

Commercial mortgages
13

 
6,565

 
316

 
13

 
6,709

 
330

Residential real estate
0

 
0

 
0

 
0

 
0

 
0

Consumer
0

 
0

 
0

 
0

 
0

 
0

Credit cards
0

 
0

 
0

 
0

 
0

 
0

Total
23

 
$
9,597

 
$
350

 
23

 
$
9,802

 
$
358
Schedule of Loan Assigned Risk Rating within 12 Months of Balance Sheet Date
March 31, 2020
 
Pass
 
Special
Mention
 
Substandard
 
Doubtful
 
Total
Commercial, industrial and agricultural
$
1,049,414

 
$
13,444

 
$
28,057

 
$
0

 
$
1,090,915

Commercial mortgages
799,848

 
22,388

 
23,979

 
0

 
846,215

Total
$
1,849,262

 
$
35,832

 
$
52,036

 
$
0

 
$
1,937,130

December 31, 2019
 
Pass
 
Special
Mention
 
Substandard
 
Doubtful
 
Total
Commercial, industrial and agricultural
$
1,004,445

 
$
16,696

 
$
25,524

 
$
0

 
$
1,046,665

Commercial mortgages
780,798

 
18,837

 
14,367

 
0

 
814,002

Total
$
1,785,243

 
$
35,533

 
$
39,891

 
$
0

 
$
1,860,667
Recorded Investment in Residential, Consumer and Credit Card Loans Based on Payment Activity The following table presents the recorded investment in residential, consumer, and credit card loans based on payment activity as of March 31, 2020 and December 31, 2019:
 
March 31, 2020
 
December 31, 2019
 
Residential
Real Estate
 
Consumer
 
Credit
Cards
 
Residential
Real Estate
 
Consumer
 
Credit
Cards
Performing
$
809,994

 
$
93,615

 
$
8,666

 
$
809,247

 
$
123,950

 
$
7,567

Nonperforming
4,663

 
810

 
17

 
4,783

 
835

 
2

Total
$
814,657

 
$
94,425

 
$
8,683

 
$
814,030

 
$
124,785

 
$
7,569
Summary of Holiday's Loan Portfolio
Holiday’s loan portfolio is summarized as follows at March 31, 2020 and December 31, 2019:
 
3/31/2020
 
12/31/2019
Consumer
$
25,855

 
$
28,122

Less: unearned discount
(4,546
)
 
(5,162
)
Total
$
21,309

 
$
22,960