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Loans and Other Real Estate (Tables)
 3 Months Ended
Mar. 31, 2019
Receivables [Abstract]  
Composition of Company`s Loan and Lease Portfolio
The following sets forth the composition of the Company’s loan portfolio:
(in thousands)
March 31, 2019
 
December 31, 2018
 
 
 
 
Commercial, secured by real estate
$
3,436,550

 
$
3,057,779

Commercial, industrial and other
389,230

 
336,735

Equipment finance
90,791

 
87,925

Real estate - residential mortgage
335,290

 
329,854

Real estate - construction
332,995

 
319,545

Home equity and consumer
339,815

 
328,609

Total loans
4,924,671

 
4,460,447

Less: deferred fees
(3,280
)
 
(3,714
)
Loans, net of deferred fees
$
4,921,391

 
$
4,456,733
Schedule of Changes in Accretable Yield
The following table presents changes in the accretable yield for PCI loans:
 
For the Three Months Ended
(in thousands)
March 31, 2019
 
March 31, 2018
 
 
 
 
Balance, beginning of period
$
81

 
$
129

Acquisitions
1,420

 
—

Accretion
(193
)
 
(44
)
Net reclassification non-accretable difference
30

 
28

Balance, end of period
$
1,338

 
$
113
Company's Non-Performing Assets and its Accruing Troubled Debt Restructurings, Excluding PCI Loans
The following schedule sets forth certain information regarding the Company’s non-performing assets and its accruing troubled debt restructurings, excluding PCI loans:
(in thousands)
March 31, 2019
 
December 31, 2018
 
 
 
 
Commercial, secured by real estate
$
9,817

 
$
7,192

Commercial, industrial and other
2,202

 
1,019

Equipment finance
383

 
501

Real estate - residential mortgage
1,740

 
1,986

Home equity and consumer
1,581

 
1,432

Total non-accrual loans
$
15,723

 
$
12,130

Other real estate and other repossessed assets
715

 
830

TOTAL NON-PERFORMING ASSETS
$
16,438

 
$
12,960

Troubled debt restructurings, still accruing
$
6,352

 
$
9,293
Age Analysis of Past Due Loans, Segregated by Class of Loans
An age analysis of past due loans, segregated by class of loans as of March 31, 2019 and December 31, 2018, is as follows:
(in thousands)
30-59 Days Past Due
 
60-89 Days Past Due
 
Greater Than 89 Days Past Due
 
Total Past Due
 
Current
 
Total Loans
 
Recorded Investment Greater than 89 Days and Still Accruing
March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, secured by real estate
$
14,944

 
$
3,060

 
$
3,913

 
$
21,917

 
$
3,414,633

 
$
3,436,550

 
$
—

Commercial, industrial and other
1,084

 
220

 
377

 
1,681

 
387,549

 
389,230

 
—

Equipment finance
358

 
210

 
383

 
951

 
89,840

 
90,791

 
—

Real estate - residential mortgage
2,406

 
—

 
1,146

 
3,552

 
331,738

 
335,290

 
—

Real estate - construction
—

 
—

 
3,423

 
3,423

 
329,572

 
332,995

 
—

Home equity and consumer
1,845

 
365

 
1,297

 
3,507

 
336,308

 
339,815

 
78

 
$
20,637

 
$
3,855

 
$
10,539

 
$
35,031

 
$
4,889,640

 
$
4,924,671

 
$
78

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, secured by real estate
$
1,477

 
$
639

 
$
2,237

 
$
4,353

 
$
3,053,426

 
$
3,057,779

 
$
—

Commercial, industrial and other
173

 
243

 
750

 
1,166

 
335,569

 
336,735

 
—

Equipment finance
533

 
13

 
501

 
1,047

 
86,878

 
87,925

 
—

Real estate - residential mortgage
743

 
111

 
1,776

 
2,630

 
327,224

 
329,854

 
—

Real estate - construction
—

 
—

 
—

 
—

 
319,545

 
319,545

 
—

Home equity and consumer
1,917

 
216

 
850

 
2,983

 
325,626

 
328,609

 
—

 
$
4,843

 
$
1,222

 
$
6,114

 
$
12,179

 
$
4,448,268

 
$
4,460,447

 
$
—
Impaired Loans with and without Specific Allowances
Impaired loans as of March 31, 2019 and December 31, 2018 are as follows:
(in thousands)
Recorded
Investment in
Impaired Loans
 
Contractual
Unpaid
Principal
Balance
 
Specific
Allowance
 
Average
Investment in
Impaired Loans
 
Interest
Income
Recognized
March 31, 2019
 
 
 
 
 
 
 
 
 
Loans without specific allowance:
 
 
 
 
 
 
 
 
 
Commercial, secured by real estate
$
12,188

 
$
12,883

 
$
—

 
$
8,878

 
$
52

Commercial, industrial and other
2,309

 
2,633

 
—

 
1,142

 
4

Equipment finance
301

 
597

 
—

 
301

 
—

Real estate - residential mortgage
—

 
—

 
—

 
—

 
—

Real estate - construction
—

 
—

 
—

 
—

 
—

Home equity and consumer
—

 
—

 
—

 
—

 
—

Loans with specific allowance:
 
 
 
 
 
 
 
 
 
Commercial, secured by real estate
3,797

 
4,070

 
229

 
6,642

 
72

Commercial, industrial and other
200

 
199

 
8

 
199

 
3

Equipment finance
26

 
26

 
12

 
26

 
—

Real estate - residential mortgage
715

 
875

 
4

 
718

 
5

Real estate - construction
—

 
—

 
—

 
—

 
—

Home equity and consumer
700

 
741

 
6

 
697

 
8

Total:
 
 
 
 
 
 
 
 
 
Commercial, secured by real estate
$
15,985

 
$
16,953

 
$
229

 
$
15,520

 
$
124

Commercial, industrial and other
2,509

 
2,832

 
8

 
1,341

 
7

Equipment finance
327

 
623

 
12

 
327

 
—

Real estate - residential mortgage
715

 
875

 
4

 
718

 
5

Real estate - construction
—

 
—

 
—

 
—

 
—

Home equity and consumer
700

 
741

 
6

 
697

 
8

 
$
20,236

 
$
22,024

 
$
259

 
$
18,603

 
$
144

(in thousands)
Recorded
Investment in
Impaired Loans
 
Contractual
Unpaid
Principal
Balance
 
Specific
Allowance
 
Average
Investment in
Impaired Loans
 
Interest
Income
Recognized
December 31, 2018
 
 
 
 
 
 
 
 
 
Loans without specific allowance:
 
 
 
 
 
 
 
 
 
Commercial, secured by real estate
$
9,284

 
$
9,829

 
—

 
$
7,369

 
$
188

Commercial, industrial and other
1,151

 
1,449

 
—

 
1,834

 
19

Equipment finance
301

 
597

 
—

 
376

 
—

Real estate - residential mortgage
—

 
—

 
—

 
242

 
4

Real estate - construction
—

 
—

 
—

 
726

 
—

Home equity and consumer
—

 
—

 
—

 
—

 
—

Loans with specific allowance:
 
 
 
 
 
 
 
 
 
Commercial, secured by real estate
7,270

 
7,597

 
307

 
7,594

 
317

Commercial, industrial and other
209

 
209

 
7

 
209

 
12

Equipment finance
30

 
30

 
14

 
19

 
—

Real estate - residential mortgage
730

 
884

 
4

 
745

 
20

Real estate - construction
—

 
—

 
—

 
—

 
—

Home equity and consumer
727

 
765

 
6

 
898

 
32

Total:
 
 
 
 
 
 
 
 
 
Commercial, secured by real estate
$
16,554

 
$
17,426

 
$
307

 
$
14,963

 
$
505

Commercial, industrial and other
1,360

 
1,658

 
7

 
2,043

 
31

Equipment finance
331

 
627

 
14

 
395

 
—

Real estate - residential mortgage
730

 
884

 
4

 
987

 
24

Real estate - construction
—

 
—

 
—

 
726

 
—

Home equity and consumer
727

 
765

 
6

 
898

 
32

 
$
19,702

 
$
21,360

 
$
338

 
$
20,012

 
$
592
Company's Commercial Loan Portfolio
The following table shows the Company’s commercial loan portfolio as of March 31, 2019 and December 31, 2018, by the risk ratings discussed above (in thousands):
March 31, 2019
Commercial,
Secured by
Real Estate
 
Commercial,
Industrial
and Other
 
Real Estate -
Construction
RISK RATING
 
 
 
 
 
1
$
—

 
$
2,450

 
$
—

2
—

 
18,444

 
—

3
68,756

 
36,739

 
—

4
933,390

 
88,551

 
18,204

5
2,247,650

 
205,999

 
302,190

5W - Watch
89,295

 
19,381

 
5,873

6 - Other assets especially mentioned
46,466

 
3,988

 
2,267

7 - Substandard
50,993

 
13,678

 
4,461

8 - Doubtful
—

 
—

 
—

9 - Loss
—

 
—

 
—

Total
$
3,436,550

 
$
389,230

 
$
332,995

December 31, 2018
Commercial,
Secured by
Real Estate
 
Commercial,
Industrial
and Other
 
Real Estate -
Construction
RISK RATING
 
 
 
 
 
1
$
—

 
$
1,119

 
$
—

2
—

 
18,462

 
—

3
69,995

 
36,367

 
—

4
933,577

 
91,145

 
17,375

5
1,910,423

 
168,474

 
297,625

5W - Watch
61,626

 
7,798

 
3,493

6 - Other assets especially mentioned
38,844

 
2,033

 
—

7 - Substandard
43,314

 
11,337

 
1,052

8 - Doubtful
—

 
—

 
—

9 - Loss
—

 
—

 
—

Total
$
3,057,779

 
$
336,735

 
$
319,545
Allowance for Loan and Lease Losses by Portfolio Segment
The following table details activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2019 and 2018:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(in thousands)
Commercial,
Secured by
Real Estate
 
Commercial,
Industrial
and Other
 
Equipment Finance
 
Real Estate-
Residential
Mortgage
 
Real Estate-
Construction
 
Home
Equity and
Consumer
 
Total
Three Months Ended March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning Balance
$
27,881

 
$
1,742

 
$
987

 
$
1,566

 
$
3,015

 
$
2,497

 
$
37,688

Charge-offs
(187
)
 
(147
)
 
(87
)
 
(50
)
 
—

 
(45
)
 
(516
)
Recoveries
115

 
97

 
2

 
9

 
5

 
71

 
299

Provision
(294
)
 
900

 
45

 
39

 
(133
)
 
(49
)
 
508

Ending Balance
$
27,515

 
$
2,592

 
$
947

 
$
1,564

 
$
2,887

 
$
2,474

 
$
37,979

(in thousands)
Commercial,
Secured by
Real Estate
 
Commercial,
Industrial
and Other
 
Equipment Finance
 
Real Estate-
Residential
Mortgage
 
Real Estate-
Construction
 
Home
Equity and
Consumer
 
Total
Three Months Ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning Balance
$
25,704

 
$
2,313

 
$
630

 
$
1,557

 
$
2,731

 
$
2,520

 
$
35,455

Charge-offs
(22
)
 
(1,012
)
 
(23
)
 
(93
)
 
—

 
(100
)
 
(1,250
)
Recoveries
31

 
20

 
2

 
2

 
5

 
95

 
155

Provision
104

 
447

 
433

 
123

 
196

 
(19
)
 
1,284

Ending Balance
$
25,817

 
$
1,768

 
$
1,042

 
$
1,589

 
$
2,932

 
$
2,496

 
$
35,644
Loans Receivable Summarized by Portfolio Segment and Impairment Method
Loans receivable summarized by portfolio segment and impairment method are as follows:
(in thousands)
Commercial,
Secured by
Real Estate
 
Commercial,
Industrial
and Other
 
Equipment Finance
 
Real Estate-
Residential
Mortgage
 
Real Estate-
Construction
 
Home
Equity and
Consumer
 
Total
March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending Balance: Individually evaluated for impairment
$
15,985

 
$
2,509

 
$
327

 
$
715

 
$
—

 
$
700

 
$
20,236

Ending Balance: Collectively evaluated for impairment
3,413,062

 
384,213

 
90,464

 
334,177

 
329,566

 
338,573

 
4,890,055

Ending Balance: Loans acquired with deteriorated credit quality
7,503

 
2,508

 
—

 
398

 
3,429

 
542

 
14,380

Ending Balance (1)
$
3,436,550

 
$
389,230

 
$
90,791

 
$
335,290

 
$
332,995

 
$
339,815

 
$
4,924,671

(in thousands)
Commercial,
Secured by
Real Estate
 
Commercial,
Industrial
and Other
 
Equipment Finance
 
Real Estate-
Residential
Mortgage
 
Real Estate-
Construction
 
Home
Equity and
Consumer
 
Total
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending Balance: Individually evaluated for impairment
$
16,554

 
$
1,360

 
$
331

 
$
730

 
$
—

 
$
727

 
$
19,702

Ending Balance: Collectively evaluated for impairment
3,040,573

 
335,375

 
87,594

 
329,124

 
319,545

 
327,882

 
4,440,093

Ending balance: Loans acquired with deteriorated credit quality
652

 
—

 
—

 
—

 
—

 
—

 
652

Ending Balance (1)
$
3,057,779

 
$
336,735

 
$
87,925

 
$
329,854

 
$
319,545

 
$
328,609

 
$
4,460,447

(1)
Excludes deferred fees
Allowance for Loan Losses Summarized by Portfolio Segment and Impairment Classification
The allowance for loan losses is summarized by portfolio segment and impairment classification as follows:
(in thousands)
Commercial,
Secured by
Real Estate
 
Commercial,
Industrial
and Other
 
Equipment Finance
 
Real Estate-
Residential
Mortgage
 
Real Estate-
Construction
 
Home
Equity and
Consumer
 
Total
March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending Balance: Individually evaluated for impairment
$
229

 
$
8

 
$
12

 
$
4

 
$
—

 
$
6

 
$
259

Ending Balance: Collectively evaluated for impairment
27,286

 
2,584

 
935

 
1,560

 
2,887

 
2,468

 
37,720

Ending Balance
$
27,515

 
$
2,592

 
$
947

 
$
1,564

 
$
2,887

 
$
2,474

 
$
37,979

(in thousands)
Commercial,
Secured by
Real Estate
 
Commercial,
Industrial
and Other
 
Equipment Finance
 
Real Estate-
Residential
Mortgage
 
Real Estate-
Construction
 
Home
Equity and
Consumer
 
Total
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending Balance: Individually evaluated for impairment
$
307

 
$
7

 
$
14

 
$
4

 
$
—

 
$
6

 
$
338

Ending Balance: Collectively evaluated for impairment
27,574

 
1,735

 
973

 
1,562

 
3,015

 
2,491

 
37,350

Ending Balance
$
27,881

 
$
1,742

 
$
987

 
$
1,566

 
$
3,015

 
$
2,497

 
$
37,688
Summary of Restructured Loans
The following table summarizes loans that have been restructured during the three months ended March 31, 2019 and 2018:
 
For the Three Months Ended March 31, 2019
 
For the Three Months Ended March 31, 2018
(dollars in thousands)
Number of
Contracts
 
Pre-
Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
 
Number of
Contracts
 
Pre-
Modification
Outstanding
Recorded
Investment
 
Post-
Modification
Outstanding
Recorded
Investment
 
 
 
 
 
 
 
 
 
 
 
 
Commercial, secured by real estate
—

 
$
—

 
$
—

 
2

 
$
1,657

 
$
1,657

 
—

 
$
—

 
$
—

 
2

 
$
1,657

 
$
1,657