Allowance for Loan Losses

The allowance for loan losses is reported as a reduction of outstanding loan balances, and totaled $77.3 million and $75.8 million at March 31, 2015 and December 31, 2014, respectively.

The following tables present a summary of the changes in the allowance for loan losses for the periods indicated:



	As of and for the three months ended March 31,
	2015			2014
	(In thousands)
Allowance for loan losses, beginning of period:
Commercial and industrial	$	14,114		$	12,837
Commercial real estate	43,854			44,979
Construction and land	4,041			4,465
Residential	10,374			10,732
Home equity	1,003			1,020
Consumer and other	382			322
Unallocated	2,070			2,016
Total allowance for loan losses, beginning of period	75,838			76,371
Provision/ (credit) for loan losses:
Commercial and industrial	(1,981		)	(927		)
Commercial real estate	(933		)	1,057
Construction and land	227			356
Residential	72			(1,448		)
Home equity	13			(57		)
Consumer and other	130			(193		)
Unallocated	(28		)	12
Total provision/(credit) for loan losses	(2,500		)	(1,200		)
Loans charged-off:
Commercial and industrial	—			(49		)
Commercial real estate	—			—
Construction and land	—			—
Residential	(49		)	(88		)
Home equity	—			—
Consumer and other	(5		)	(8		)
Total charge-offs	(54		)	(145		)
Recoveries on loans previously charged-off:
Commercial and industrial	2,204			339
Commercial real estate	631			330
Construction and land	1,143			151
Residential	—			550
Home equity	—			—
Consumer and other	1			209
Total recoveries	3,979			1,579



	As of and for the three months ended March 31,
	2015		2014
	(In thousands)
Allowance for loan losses at end of period:
Commercial and industrial	14,337		12,200
Commercial real estate	43,552		46,366
Construction and land	5,411		4,972
Residential	10,397		9,746
Home equity	1,016		963
Consumer and other	508		330
Unallocated	2,042		2,028
Total allowance for loan losses at end of period	$	77,263	$	76,605

The following tables present the Company’s allowance for loan losses and loan portfolio at March 31, 2015 and December 31, 2014 by portfolio segment, disaggregated by method of impairment analysis. The Company had no loans acquired with deteriorated credit quality at March 31, 2015 or December 31, 2014.



	Commercial and industrial		Commercial real estate		Construction and land		Residential
	(In thousands)
Allowance for loan losses balance at March 31, 2015 attributable to:
Loans collectively evaluated	$	14,259	$	41,009	$	5,239	$	9,086
Loans individually evaluated	78		2,543		172		1,311
Total allowance for loan losses	$	14,337	$	43,552	$	5,411	$	10,397

Recorded investment (loan balance) at March 31, 2015:
Loans collectively evaluated	$	965,706	$	1,734,987	$	133,622	$	2,126,309
Loans individually evaluated	1,132		28,054		3,472		16,727
Total Loans	$	966,838	$	1,763,041	$	137,094	$	2,143,036

	Home equity		Consumer and other		Unallocated		Total
	(In thousands)
Allowance for loan losses balance at March 31, 2015 attributable to:
Loans collectively evaluated	$	1,016	$	508	$	2,042	$	73,159
Loans individually evaluated	—		—		—		4,104
Total allowance for loan losses	$	1,016	$	508	$	2,042	$	77,263

Recorded investment (loan balance) at March 31, 2015:
Loans collectively evaluated	$	116,140	$	167,807	$	—	$	5,244,571
Loans individually evaluated	50		1,007		—		50,442
Total Loans	$	116,190	$	168,814	$	—	$	5,295,013



	Commercial and industrial		Commercial real estate		Construction and land		Residential
	(In thousands)
Allowance for loan losses balance at December 31, 2014 attributable to:
Loans collectively evaluated	$	14,023	$	41,262	$	3,869	$	9,044
Loans individually evaluated	91		2,592		172		1,330
Total allowance for loan losses	$	14,114	$	43,854	$	4,041	$	10,374

Recorded investment (loan balance) at December 31, 2014:
Loans collectively evaluated	$	950,183	$	1,757,839	$	113,928	$	2,115,696
Loans individually evaluated	2,902		30,564		11,421		16,399
Total Loans	$	953,085	$	1,788,403	$	125,349	$	2,132,095

	Home equity		Consumer and other		Unallocated		Total
	(In thousands)
Allowance for loan losses balance at December 31, 2014 attributable to:
Loans collectively evaluated	$	1,003	$	382	$	2,070	$	71,653
Loans individually evaluated	—		—		—		4,185
Total allowance for loan losses	$	1,003	$	382	$	2,070	$	75,838

Recorded investment (loan balance) at December 31, 2014:
Loans collectively evaluated	$	114,809	$	155,138	$	—	$	5,207,593
Loans individually evaluated	50		1,007		—		62,343
Total Loans	$	114,859	$	156,145	$	—	$	5,269,936