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Credit Losses
 12 Months Ended
Dec. 31, 2020
Credit Loss [Abstract]  
Allowance for Credit Losses LOANS, ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY
Loans Held for Investment and Allowance for Credit Losses
The following table summarizes the change in allowance for credit losses by loan category, and bifurcates the amount of loans allocated to each loan category for the year ended December 31, 2020:
 Years Ended December 31, 2020
 (Dollars in thousands)
 Commercial and
Industrial		Commercial
Real Estate		Commercial
Construction		Small
Business		Residential
Real Estate		      
Home  Equity		Other ConsumerTotal
Allowance for credit losses
Beginning balance, pre adoption of ASU 2016-13$17,594 $32,935 $6,053 $1,746 $3,440 $5,576 $396 $67,740 
Cumulative effect accounting adjustment (1)(1,984)(13,048)(3,652)495 9,828 7,012 212 (1,137)
Cumulative effect accounting adjustment (2)49 337 — — 423 319 29 1,157 
Charge-offs(2,309)(3,885)— (380)(105)(142)(1,625)(8,446)
Recoveries289 9 — 33 2 210 1,035 1,578 
Provision for credit loss expense7,447 28,661 2,996 3,201 687 9,085 423 52,500 
Ending balance (3)$21,086 $45,009 $5,397 $5,095 $14,275 $22,060 $470 $113,392 
(1)Represents adjustment needed to reflect the cumulative day one impact pursuant to the Company's adoption of Accounting Standards Update 2016-13. The adjustment represents a $1.1 million decrease to the allowance attributable to the change in accounting methodology for estimating the allowance for credit losses resulting from the Company's adoption of the standard.
(2)Represents adjustment needed to reflect the day one reclassification of the Company's PCI loan balances to PCD and the associated gross-up, pursuant to the Company's adoption of Accounting Standards Update 2016-13. The adjustment represents a $1.2 million increase to the allowance resulting from the day one reclassification.
(3)Balances of accrued interest receivable excluded from amortized cost and the calculation of allowance for credit losses amounted to $36.0 million at December 31, 2020.

The balance of allowance for credit losses of $113.4 million at December 31, 2020 represents an increase of $45.6 million, or 67.3%, from the implementation balance at January 1, 2020. The increase in the allowance was primarily driven by anticipated credit deterioration caused by the COVID-19 pandemic, which resulted in an elevated provision for credit losses of $52.5 million for the year ended December 31, 2020. While management is unable to know with certainty the direct, indirect, and future impacts of the COVID-19 pandemic, it is expected that the pandemic will have a material adverse impact on future losses across a broad range of loan segments. Accordingly, the forecast used by the model was adjusted to use a more severe outlook as compared to the baseline forecast that was used to calculate the opening balances on January 1, 2020 as a result of the uncertainty in the outlook due to the ongoing pandemic. Additionally, the provision for credit loss recognized for the year ended December 31, 2020 reflects increased reserve allocations to loan segments identified as having an elevated loss exposure associated with the COVID-19 pandemic.  These loan segments primarily include commercial relationships within industries that are subject to mandated closures and capacity limits that will potentially impede the borrowers’ ability to make loan payments, including loans in the following industry sections: Accommodations, Food Services, Retail Trade, Recreation and Entertainment, and Other Services (excluding Public Administration).  In addition to these industry exposures, additional risk of loss was attributable to collateral values associated with non-owner occupied real estate with significant retail tenant exposure, as well as home equity loans within a junior lien position.  Leveraging actual historical loss given default (LGD) rates combined with stressing of assumptions over probability of default rates over these higher risk segments, qualitative adjustments were made to the initially model-driven calculated loss reserves.
   
    For the purpose of estimating the allowance for credit losses, management segregated the loan portfolio into the portfolio segments detailed in the above tables.  Each of these loan categories possesses unique risk characteristics that are considered when determining the appropriate level of allowance for each segment.  Some of the characteristics unique to each loan category include:
Commercial Portfolio
•Commercial and Industrial: Loans in this category consist of revolving and term loan obligations extended to business and corporate enterprises for the purpose of financing working capital and/or capital investment.  Collateral generally consists of pledges of business assets including, but not limited to: accounts receivable, inventory, plant and equipment, or real estate, if applicable. Repayment sources consist of primarily, operating cash flow, and secondarily, liquidation of assets.
•Commercial Real Estate: Loans in this category consist of mortgage loans to finance investment in real property such as multi-family residential, commercial/retail, office, industrial, hotels, educational and healthcare facilities and other specific use properties.  Loans are typically written with amortizing payment structures.  Collateral values are determined based upon third party appraisals and evaluations.  Loan to value ratios at origination are governed by established policy and regulatory guidelines. Repayment sources consist of, primarily, cash flow from operating leases and rents and, secondarily, liquidation of assets.
•Commercial Construction: Loans in this category consist of short-term construction loans, revolving and nonrevolving credit lines and construction/permanent loans to finance the acquisition, development and construction or rehabilitation of real property.  Project types include residential land development, one-to-four family, condominium, and multi-family home construction, commercial/retail, office, industrial, hotels, educational and healthcare facilities and other specific use properties.  Loans may be written with nonamortizing or hybrid payment structures depending upon the type of project.  Collateral values are determined based upon third party appraisals and evaluations.  Loan to value ratios at origination are governed by established policy and regulatory guidelines.  Repayment sources vary depending upon the type of project and may consist of sale or lease of units, operating cash flows or liquidation of other assets.
•Small Business: Loans in this category consist of revolving, term loan and mortgage obligations extended to sole proprietors and small businesses for purposes of financing working capital and/or capital investment.  Collateral generally consists of pledges of business assets including, but not limited to, accounts receivable, inventory, plant and equipment, or real estate if applicable.  Repayment sources consist primarily of operating cash flows and, secondarily, liquidation of assets.
For the commercial portfolio it is the Company’s policy to obtain personal guarantees for payment from individuals holding material ownership interests in the borrowing entities.
Consumer Portfolio
•Residential Real Estate: Residential mortgage loans held in the Company’s portfolio are made to borrowers who demonstrate the ability to make scheduled payments with full consideration to underwriting factors such as current and expected income, employment status, current assets, other financial resources, credit history and the value of the collateral.  Collateral consists of mortgage liens on one-to-four family residential properties.  Residential mortgage loans also include loans to construct owner-occupied one-to-four family residential properties.
•Home Equity: Home equity loans and credit lines are made to qualified individuals and are primarily secured by senior or junior mortgage liens on owner-occupied one-to-four family homes, condominiums or vacation homes. Each home equity loan has a fixed rate and is billed in equal payments comprised of principal and interest. The majority of home equity lines of credit have a variable rate and are billed in interest-only payments during the draw period. At the end of the draw period, the home equity line of credit is billed as a percentage of the then outstanding principal balance plus all accrued interest over a predetermined repayment period, as set forth in the note. Additionally, the Company has the option of renewing each line of credit for additional draw periods.  Borrower qualifications include favorable credit history combined with supportive income requirements and combined loan to value ratios within established policy guidelines.
•Other Consumer: Other consumer loan products include personal lines of credit and amortizing loans made to qualified individuals for various purposes such as debt consolidation, personal expenses or overdraft protection.  Borrower qualifications include favorable credit history combined with supportive income and collateral requirements within established policy guidelines.  These loans may be secured or unsecured.
Credit Quality
The Company continually monitors the asset quality of the loan portfolio using all available information. Based on this information, loans demonstrating certain payment issues or other weaknesses may be categorized as adversely risk-rated, delinquent, nonperforming and/or put on nonaccrual status. Additionally, in the course of resolving such loans, the Company may choose to restructure the contractual terms of certain loans to match the borrower’s ability to repay the loan based on their current financial condition.
The Company reviews numerous credit quality indicators when assessing the risk in its loan portfolio. For the commercial portfolio, the Company utilizes a 10-point credit risk-rating system, which assigns a risk-grade to each loan
obligation based on a number of quantitative and qualitative factors associated with a commercial or small business loan transaction. Factors considered include industry and market conditions, position within the industry, earnings trends, operating cash flow, asset/liability values, debt capacity, guarantor strength, management and controls, financial reporting, collateral, and other considerations. The risk-rating categories for the commercial portfolio are defined as follows:
•Pass: Risk-rating “1” through “6” comprises of loans ranging from ‘Substantially Risk Free’ which indicates borrowers are of unquestioned credit standing and the pinnacle of credit quality, well established companies with a very strong financial condition, and loans fully secured by cash collateral, through ‘Acceptable Risk’, which indicates borrowers may exhibit declining earnings, strained cash flow, increasing or above average leverage and/or weakening market fundamentals that indicate below average asset quality, margins and market share. Collateral coverage is protective.
•Potential Weakness: Borrowers exhibit potential credit weaknesses or downward trends deserving management’s close attention. If not checked or corrected, these trends will weaken the Company’s asset and position. While potentially weak, currently these borrowers are marginally acceptable; no loss of principal or interest is envisioned.
•Definite Weakness Loss Unlikely: Borrowers exhibit well defined weaknesses that jeopardize the orderly liquidation of debt. Loans may be inadequately protected by the current net worth and paying capacity of the obligor or by the collateral pledged, if any. Normal repayment from the borrower is in jeopardy, although no loss of principal is envisioned. However, there is a distinct possibility that a partial loss of interest and/or principal will occur if the deficiencies are not corrected. Collateral coverage may be inadequate to cover the principal obligation.
•Partial Loss Probable: Borrowers exhibit well defined weaknesses that jeopardize the orderly liquidation of debt with the added provision that the weaknesses make collection of the debt in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Serious problems exist to the point where partial loss of principal is likely.
•Definite Loss: Borrowers deemed incapable of repayment. Loans to such borrowers are considered uncollectible and of such little value that continuation as active assets of the Company is not warranted.
The Company utilizes a comprehensive, continuous strategy for evaluating and monitoring commercial credit quality. Initially, credit quality is determined at loan origination and is re-evaluated when subsequent actions, such as renewals, modifications or reviews, occur. Actively managed commercial borrowers are required to provide updated financial information at least annually which is carefully evaluated for any changes in credit quality. Larger loan relationships are subject to a full annual credit review by experienced credit professionals, while continuous portfolio monitoring techniques are employed to evaluate changes in credit quality for smaller loan relationships. Any changes in credit quality are reflected in risk-rating changes. Additionally, the Company retains an independent loan review firm to evaluate the credit quality of the commercial loan portfolio. The independent loan review process achieves significant penetration into the commercial loan portfolio and reports the results of these reviews to the Audit Committee of the Board of Directors on a quarterly basis. Commercial loan modifications granted by the Company allowing payment deferrals for qualifying borrowers in accordance with the Coronavirus Aid, Relief and Economic Security Act ("CARES Act") have been assessed for downgrades of risk ratings.
For the Company’s consumer portfolio, the quality of the loan is best indicated by the repayment performance of an individual borrower. As a result, for this portfolio the Company utilizes a pass/default risk-rating system, based on an age analysis (i.e., days past due) associated with each consumer loan. Under this structure, consumer loans less than 90 days past due are assigned a "pass" rating, while any consumer loans 90 days or more past due are assigned a "default" rating. Consumer loan modifications granted by the Company allowing payment deferrals for qualifying borrowers in accordance with the CARES Act have not been categorized as delinquent loans.
The following table details the amortized cost balances of the Company's loan portfolios, presented by credit quality indicator and origination year at December 31, 2020:
 
20202019201820172016PriorRevolving LoansRevolving converted to TermTotal
 (Dollars in thousands)
Commercial and
industrial
Pass$1,074,773 (1)$141,859 $97,908 $30,431 $19,426 $19,749 $631,049 $2,538 $2,017,733 
Potential weakness9,020 1,869 670 4,997 1,539 294 20,766 — 39,155 
Definite weakness - loss unlikely2,009 1,310 19,575 2,997 320 429 6,991 — 33,631 
Partial loss probable672 — — — 156 143 11,662 — 12,633 
Definite loss— — — — — — — — — 
Total commercial and industrial$1,086,474 $145,038 $118,153 $38,425 $21,441 $20,615 $670,468 $2,538 $2,103,152 
Commercial real estate
Pass$1,054,345 $726,276 $480,725 $544,826 $372,542 $664,256 $19,085 $14,737 $3,876,792 
Potential weakness27,877 55,166 30,286 19,531 25,462 71,252 13,610 — 243,184 
Definite weakness - loss unlikely25,878 3,502 3,857 10,185 3,376 7,153 — — 53,951 
Partial loss probable— — — — — — — — — 
Definite loss— — — — — — — — — 
Total commercial real estate$1,108,100 $784,944 $514,868 $574,542 $401,380 $742,661 $32,695 $14,737 $4,173,927 
Commercial construction
Pass$255,679 $167,948 $30,706 $32,538 $— $6,689 $31,705 $588 $525,853 
Potential weakness17,528 9,953 520 — — — 75 — 28,076 
Definite weakness - loss unlikely— — — — — — — — — 
Partial loss probable— — — — — — — — — 
Definite loss— — — — — — — — — 
Total commercial construction$273,207 $177,901 $31,226 $32,538 $— $6,689 $31,780 $588 $553,929 
Small business
Pass$41,713 $27,751 $19,497 $13,411 $13,837 $19,624 $35,451 $— $171,284 
Potential weakness— 10 15 15 6 217 822 — 1,085 
Definite weakness - loss unlikely684 438 122 11 137 353 883 — 2,628 
Partial loss probable— — — — — — 26 — 26 
Definite loss— — — — — — — — — 
Total small business$42,397 $28,199 $19,634 $13,437 $13,980 $20,194 $37,182 $— $175,023 
Residential real estate
Pass$219,595 $146,058 $160,422 $144,638 $215,568 $401,279 $— $— $1,287,560 
Default— — 427 — 4,158 4,038 — — 8,623 
Total residential real estate$219,595 $146,058 $160,849 $144,638 $219,726 $405,317 $— $— $1,296,183 
Home equity
Pass$82,312 $59,409 $52,088 $53,570 $41,181 $111,360 $661,575 $4,663 $1,066,158 
Default— — — — — 440 1,837 355 2,632 
Total home equity$82,312 $59,409 $52,088 $53,570 $41,181 $111,800 $663,412 $5,018 $1,068,790 
Other consumer
Pass$816 $398 $165 $665 $615 $6,749 $12,317 $— $21,725 
Default— — — 15 — 111 11 — 137 
Total other consumer$816 $398 $165 $680 $615 $6,860 $12,328 $— $21,862 
Total$2,812,901 $1,341,947 $896,983 $857,830 $698,323 $1,314,136 $1,447,865 $22,881 $9,392,866 
(1)Loans originated as part of the Paycheck Protection Program ("PPP") established by the CARES Act are reported as commercial and industrial under the 2020 vintage year and as"Pass" because these loans are 100% guaranteed by the U.S. Government. Funded PPP loans outstanding totaled $791.9 million at December 31, 2020.
    For the Company’s consumer portfolio, the quality of the loan is best indicated by the repayment performance of an individual borrower. However, the Company does supplement performance data with current Fair Isaac Corporation (“FICO”) scores and Loan to Value (“LTV”) estimates. Current FICO data is purchased and appended to all consumer loans on a regular basis. In addition, automated valuation services and broker opinions of value are used to supplement original value data for the residential and home equity portfolios, periodically. The following table shows the weighted average FICO scores and the weighted average combined LTV ratios at the dates indicated below:
December 31
2020		December 31
2019
Residential portfolio
FICO score (re-scored)(1)749 749 
LTV (re-valued)(2)57.4 %59.0 %
Home equity portfolio
FICO score (re-scored)(1)771 767 
LTV (re-valued)(2)(3)46.0 %46.6 %
(1)The average FICO scores at December 31, 2020 are based upon rescores from December 2020, as available for previously originated loans, or origination score data for loans booked in December 2020.  The average FICO scores at December 31, 2019 were based upon rescores available from November 2019 and origination score data for loans booked in December 2019.
(2)The combined LTV ratios for December 31, 2020 are based upon updated automated valuations as of November 2020, when available, and/or the most current valuation data available.  The combined LTV ratios for December 31, 2019 were based upon updated automated valuations as of November 2019, when available, and/or the most current valuation data available as of such date.  The updated automated valuations provide new information on loans that may be available since the previous valuation was obtained.  If no new information is available, the valuation will default to the previously obtained data or most recent appraisal.
(3)For home equity loans and lines in a subordinate lien, the LTV data represents a combined LTV, taking into account the senior lien data for loans and lines.
Unfunded Commitments
Management evaluates the need for a reserve on unfunded lending commitments in a manner consistent with loans held for investment. At December 31, 2020, the Company's estimated reserve for unfunded commitments amounted to $1.2 million.
Asset Quality
The Company’s philosophy toward managing its loan portfolios is predicated upon careful monitoring, which stresses early detection and response to delinquent and default situations. Delinquent loans are managed by a team of collection specialists and the Company seeks to make arrangements to resolve any delinquent or default situation over the shortest possible time frame.  As a general rule, loans 90 days or more past due with respect to principal or interest are classified as nonaccrual loans. The Company also may use discretion regarding other loans 90 days or more delinquent if the loan is well secured and/or in process of collection.
In response to the COVID-19 pandemic, the Company has granted loan modifications to allow deferral of payments for borrowers negatively impacted by the pandemic. The amount of loans with active deferrals at December 31, 2020 was $173.6 million. The majority of these loans with active deferrals continue to be characterized as current loans. In accordance with regulatory guidance, these modifications were not considered to be troubled debt restructurings ("TDRs") if they were performing prior to December 31, 2019. Additionally, a majority of these loans were characterized as current and therefore were not impacting nonaccrual or delinquency totals at December 31, 2020. The Company does, however, consider all active deferrals when estimating loss reserves. As loans reach their deferral maturity date, consideration of TDR and delinquency status will resume in accordance with the Company's accounting policy.
The following table shows information regarding nonaccrual loans at the dates indicated:
Nonaccrual Balances
December 31, 2020December 31, 2019
With Allowance for Credit LossesWithout Allowance for Credit LossesTotalTotal
 (Dollars in thousands)
Commercial and industrial$3,804 $30,925 $34,729 $22,574 
Commercial real estate10,195 — 10,195 3,016 
Small business815 10 825 311 
Residential real estate10,935 4,593 15,528 13,360 
Home equity5,427 — 5,427 6,570 
Other consumer156 — 156 61 
Total nonaccrual loans (1)$31,332 $35,528 $66,860 $45,892 
(1)Included in these amounts are $22.2 million and $24.8 million of nonaccruing TDRs at December 31, 2020 and December 31, 2019, respectively.
    It is the Company's policy to reverse any accrued interest when a loan is put on nonaccrual status, and, as such, the Company did not record any interest income on nonaccrual loans for the years ended December 31, 2020 and December 31, 2019.
    In accordance with government moratorium orders established in response to the COVID-19 pandemic, new foreclosures pursued by the Company were on hold as of December 31, 2020, and in turn, all loan foreclosures in process as of December, 31, 2020 had begun prior to the commencement of the moratorium orders. The following table shows information regarding foreclosed residential real estate property at the dates indicated:
December 31, 2020December 31, 2019
(Dollars in thousands)
Foreclosed residential real estate property held by the creditor$— $— 
Recorded investment in mortgage loans collateralized by residential real estate property that are in the process of foreclosure$1,750 $3,294 
    The following tables show the age analysis of past due financing receivables at the dates indicated:
 December 31, 2020
 30-59 days60-89 days90 days or moreTotal Past Due Total
Financing
Receivables		Amortized Cost
>90 Days
and  Accruing
 Number
of Loans		Principal
Balance		Number
of Loans		Principal
Balance		Number
of Loans		Principal
Balance		Number
of Loans		Principal
Balance		Current
 (Dollars in thousands)
Loan Portfolio
Commercial and industrial2 $318 1 $672 8 $785 11 $1,775 $2,101,377 $2,103,152 $— 
Commercial real estate3 409 — — 4 515 7 924 4,173,003 4,173,927 — 
Commercial construction— — 2 2,794 — — 2 2,794 551,135 553,929 — 
Small business14 421 6 273 4 59 24 753 174,270 175,023 — 
Residential real estate12 2,150 8 5,507 27 3,648 47 11,305 1,284,878 1,296,183 — 
Home equity10 733 5 203 33 2,633 48 3,569 1,065,221 1,068,790 — 
Other consumer (1)260 137 3 1 6 138 269 276 21,586 21,862 1 
Total301 $4,168 25 $9,450 82 $7,778 408 $21,396 $9,371,470 $9,392,866 $1 
 December 31, 2019
 30-59 days60-89 days90 days or moreTotal Past Due Total
Financing
Receivables		Recorded
Investment
>90 Days
and  Accruing
 Number
of Loans		Principal
Balance		Number
of Loans		Principal
Balance		Number
of Loans		Principal
Balance		Number
of Loans		Principal
Balance		Current
 (Dollars in thousands)
Loan Portfolio
Commercial and industrial1 $253 2 $323 5 $760 8 $1,336 $1,393,700 $1,395,036 $— 
Commercial real estate7 1,690 1 194 8 2,038 16 3,922 3,998,437 4,002,359 218 (2)
Commercial construction1 560 — — — — 1 560 546,733 547,293 — 
Small business11 837 3 15 6 115 20 967 173,530 174,497 — 
Residential real estate17 2,237 17 3,055 38 7,020 72 12,312 1,578,257 1,590,569 1,652 (2)
Home equity23 1,689 8 524 40 3,854 71 6,067 1,127,731 1,133,798 265 (2)
Other consumer (1)387 245 12 44 16 32 415 321 29,766 30,087 22 
Total447 $7,511 43 $4,155 113 $13,819 603 $25,485 $8,848,154 $8,873,639 $2,157 
(1)Other consumer portfolio is inclusive of deposit account overdrafts recorded as loan balances.
(2)Represents purchased credit impaired ("PCI") loans that were accruing interest due to expectations of future cash collections.
Troubled Debt Restructurings
In the course of resolving nonperforming loans, the Bank may choose to restructure the contractual terms of certain loans. The Bank attempts to work out an alternative payment schedule with the borrower in order to avoid foreclosure actions. Exclusive of loans modified under provisions of the CARES Act, any loans that are modified are reviewed by the Bank to identify if a TDR has occurred, which is when, for economic or legal reasons related to a borrower’s financial difficulties, the Bank grants a concession to the borrower that it would not otherwise consider. Terms may be modified to fit the ability of the borrower to repay in line with its current financial status and the restructuring of the loan may include the transfer of assets from the borrower to satisfy the debt, a modification of loan terms, or a combination of the two.
The following table shows the Company’s total TDRs and other pertinent information at the dates indicated:
December 31, 2020December 31, 2019
 (Dollars in thousands)
TDRs on accrual status$16,983 $19,599 
TDRs on nonaccrual22,209 24,766 
Total TDRs$39,192 $44,365 
Amount of specific reserves associated with TDRsn/a$855 
Additional commitments to lend to a borrower who has been a party to a TDR$263 $63 
The Company’s policy is to have any restructured loan which is on nonaccrual status prior to being modified remain on nonaccrual status for six months subsequent to being modified before management considers its return to accrual status. If the restructured loan is on accrual status prior to being modified, it is reviewed to determine if the modified loan should remain on accrual status. Additionally, loans classified as TDRs are adjusted to reflect the changes in value of the recorded investment in the loan, if any, resulting from the granting of a concession. For all residential loan modifications, the borrower must perform during a 90 day trial period before the modification is finalized.
The following table shows the troubled debt restructurings which occurred for the periods indicated and the change in the recorded investment subsequent to the modifications occurring:
 Year Ended
December 31, 2020
 Number of
Contracts		Pre-Modification
Outstanding
Recorded
Investment		Post-Modification
Outstanding
Recorded
Investment
 
Troubled debt restructurings
Commercial and industrial8 $732 $732 
Commercial real estate10 2,865 2,865 
Small business10 752 728 
Residential real estate2 559 642 
Total30 $4,908 $4,967 
 Year Ended
December 31, 2019
 Number of
Contracts		Pre-Modification
Outstanding
Recorded
Investment		Post-Modification
Outstanding
Recorded
Investment
Troubled debt restructurings
Commercial and industrial3 $268 $268 
Commercial real estate4 819 819 
Small business1 14 14 
Residential real estate3 967 1,009 
Home equity2 121 121 
Total13 $2,189 $2,231 

Year Ended
December 31, 2018
Number of
Contracts		Pre-Modification
Outstanding
Recorded
Investment		Post-Modification
Outstanding
Recorded
Investment
Troubled debt restructurings
Commercial and industrial$12 $35,688 $39,224 
Commercial real estate3 1,600 1,600 
Residential real estate5 1,048 1,071 
Home equity9 562 562 
Total$29 $38,898 $42,457 
The following table shows the Company’s post-modification balance of TDRs listed by type of modification for the periods indicated:
Years Ended
 December 31
 202020192018
 
Extended maturity$4,120 $1,565 $2,878 
Adjusted interest rate822 150 57 
Combination rate and maturity— 441 38,812 
Court ordered concession25 75 710 
Total$4,967 $2,231 $42,457 
The Company considers a loan to have defaulted when it reaches 90 days past due. At December 31, 2020 and December 31, 2019, there were no loans modified during the prior twelve months that subsequently defaulted.