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Allowance for Loan Losses
 6 Months Ended
Jun. 30, 2017
Allowance for Loan Losses [Abstract]  
Allowance for Credit Losses [Text Block]
Allowance for Loan Losses
The allowance for loan losses is reported as a reduction of outstanding loan balances, and totaled $75.0 million and $78.1 million at June 30, 2017 and December 31, 2016, 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 June 30,
 
As of and for the six months ended June 30,
 
2017
 
2016
 
2017
 
2016
 
(In thousands)
Allowance for loan losses, beginning of period:
 
 
 
 
 
 
 
Commercial and industrial
$
12,291

 
$
14,343

 
$
12,751

 
$
15,814

Commercial real estate
51,164

 
44,519

 
50,412

 
44,215

Construction and land
3,197

 
5,551

 
3,039

 
6,322

Residential
10,090

 
10,634

 
10,449

 
10,544

Home equity
987

 
1,079

 
1,035

 
1,085

Consumer and other
302

 
301

 
391

 
520

Total allowance for loan losses, beginning of period
78,031

 
76,427

 
78,077

 
78,500

Loans charged-off:
 
 
 
 
 
 
 
Commercial and industrial
(218
)
 
—

 
(218
)
 
(2,108
)
Commercial real estate
—

 
—

 
—

 
—

Construction and land
—

 
—

 
—

 
(400
)
Residential
—

 
—

 
(58
)
 
(501
)
Home equity
—

 
—

 
—

 
—

Consumer and other
(245
)
 
(19
)
 
(245
)
 
(26
)
Total charge-offs
(463
)
 
(19
)
 
(521
)
 
(3,035
)
 
As of and for the three months ended June 30,
 
As of and for the six months ended June 30,
 
2017
 
2016
 
2017
 
2016
 
(In thousands)
Recoveries on loans previously charged-off:
 
 
 
 
 
 
 
Commercial and industrial
67

 
82

 
154

 
1,376

Commercial real estate
3,479

 
1,791

 
3,529

 
3,942

Construction and land
—

 
—

 
—

 
627

Residential
—

 
4

 
47

 
4

Home equity
—

 
—

 
—

 
—

Consumer and other
9

 
3

 
18

 
7

Total recoveries
3,555

 
1,880

 
3,748

 
5,956

Provision/ (credit) for loan losses:
 
 
 
 
 
 
 
Commercial and industrial
(468
)
 
(1,179
)
 
(1,015
)
 
(1,836
)
Commercial real estate
(6,507
)
 
(803
)
 
(5,805
)
 
(2,650
)
Construction and land
388

 
(811
)
 
546

 
(1,809
)
Residential
192

 
114

 
(156
)
 
705

Home equity
(58
)
 
60

 
(106
)
 
54

Consumer and other
339

 
84

 
241

 
(132
)
Total provision/(credit) for loan losses
(6,114
)
 
(2,535
)
 
(6,295
)
 
(5,668
)
Allowance for loan losses at end of period:
 
 
 
 
 
 
 
Commercial and industrial
11,672

 
13,246

 
11,672

 
13,246

Commercial real estate
48,136

 
45,507

 
48,136

 
45,507

Construction and land
3,585

 
4,740

 
3,585

 
4,740

Residential
10,282

 
10,752

 
10,282

 
10,752

Home equity
929

 
1,139

 
929

 
1,139

Consumer and other
405

 
369

 
405

 
369

Total allowance for loan losses at end of period
$
75,009

 
$
75,753

 
$
75,009

 
$
75,753



The allowance for loan losses is an estimate of the inherent risk of loss in the loan portfolio as of the consolidated balance sheet dates. Management estimates the level of the allowance based on all relevant information available. Changes to the required level in the allowance result in either a provision for loan loss expense, if an increase is required, or a credit to the provision, if a decrease is required. Loan losses are charged to the allowance when available information confirms that specific loans, or portions thereof, are uncollectible. Recoveries on loans previously charged-off are credited to the allowance when received in cash.

The provision/ (credit) for loan losses and related balance in the allowance for loan losses for tax exempt commercial and industrial loans are included with commercial and industrial. The provision/ (credit) for loan losses and related balance in the allowance for loan losses for tax exempt commercial real estate loans are included with commercial real estate. There were no charge-offs or recoveries, for any period presented, for both commercial and industrial and commercial real estate tax exempt loans.
The following tables present the Company’s allowance for loan losses and loan portfolio at June 30, 2017 and December 31, 2016 by portfolio segment, disaggregated by method of impairment analysis. The Company had no loans acquired with deteriorated credit quality at June 30, 2017 or December 31, 2016.
 
June 30, 2017
 
Individually Evaluated
for Impairment
 
Collectively Evaluated
for Impairment
 
Total
 
Recorded investment
(loan balance)
 
Allowance for loan losses
 
Recorded investment
(loan balance)
 
Allowance for loan losses
 
Recorded investment
(loan balance)
 
Allowance for loan losses
 
(In thousands)
Commercial and industrial
$
1,771

 
$
—

 
$
956,142

 
$
11,672

 
$
957,913

 
$
11,672

Commercial real estate
9,875

 
453

 
2,346,470

 
47,683

 
2,356,345

 
48,136

Construction and land
232

 
—

 
130,672

 
3,585

 
130,904

 
3,585

Residential
12,103

 
507

 
2,513,122

 
9,775

 
2,525,225

 
10,282

Home equity
36

 
21

 
108,513

 
908

 
108,549

 
929

Consumer
—

 
—

 
200,992

 
405

 
200,992

 
405

Total
$
24,017

 
$
981

 
$
6,255,911

 
$
74,028

 
$
6,279,928

 
$
75,009

 
December 31, 2016
 
Individually Evaluated
for Impairment
 
Collectively Evaluated
for Impairment
 
Total
 
Recorded investment
(loan balance)
 
Allowance for loan losses
 
Recorded investment
(loan balance)
 
Allowance for loan losses
 
Recorded investment
(loan balance)
 
Allowance for loan losses
 
(In thousands)
Commercial and industrial
$
1,793

 
$
—

 
$
1,008,181

 
$
12,751

 
$
1,009,974

 
$
12,751

Commercial real estate
11,603

 
548

 
2,290,641

 
49,864

 
2,302,244

 
50,412

Construction and land
179

 
—

 
104,660

 
3,039

 
104,839

 
3,039

Residential
12,418

 
565

 
2,367,443

 
9,884

 
2,379,861

 
10,449

Home equity
37

 
22

 
118,780

 
1,013

 
118,817

 
1,035

Consumer
—

 
—

 
198,619

 
391

 
198,619

 
391

Total
$
26,030

 
$
1,135

 
$
6,088,324

 
$
76,942

 
$
6,114,354

 
$
78,077