XML 39 R28.htm IDEA: XBRL DOCUMENT v3.19.2
Loans (Tables)
 6 Months Ended
Jun. 30, 2019
Loans And Leases Receivable Disclosure [Abstract]  
Loan Portfolio

The Company’s loan portfolio consisted of the following as of the dates indicated (in thousands):

 

 

 

Principal

Amount

Outstanding

 

 

Net Deferred

Loan (Fees)

Costs

 

 

Loans,

Net

 

June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Commercial business

 

$

594,121

 

 

$

802

 

 

$

594,923

 

Commercial mortgage

 

 

1,011,925

 

 

 

(1,854

)

 

 

1,010,071

 

Residential real estate loans

 

 

535,873

 

 

 

10,158

 

 

 

546,031

 

Residential real estate lines

 

 

104,937

 

 

 

3,069

 

 

 

108,006

 

Consumer indirect

 

 

846,829

 

 

 

29,287

 

 

 

876,116

 

Other consumer

 

 

16,379

 

 

 

158

 

 

 

16,537

 

Total

 

$

3,110,064

 

 

$

41,620

 

 

 

3,151,684

 

Allowance for loan losses

 

 

 

 

 

 

 

 

 

 

(34,434

)

Total loans, net

 

 

 

 

 

 

 

 

 

$

3,117,250

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Commercial business

 

$

557,040

 

 

$

821

 

 

$

557,861

 

Commercial mortgage

 

 

960,265

 

 

 

(2,071

)

 

 

958,194

 

Residential real estate loans

 

 

514,981

 

 

 

9,174

 

 

 

524,155

 

Residential real estate lines

 

 

106,712

 

 

 

3,006

 

 

 

109,718

 

Consumer indirect

 

 

888,732

 

 

 

31,185

 

 

 

919,917

 

Other consumer

 

 

16,590

 

 

 

163

 

 

 

16,753

 

Total

 

$

3,044,320

 

 

$

42,278

 

 

 

3,086,598

 

Allowance for loan losses

 

 

 

 

 

 

 

 

 

 

(33,914

)

Total loans, net

 

 

 

 

 

 

 

 

 

$

3,052,684

 
Recorded Investment By Loan Class In Current And Nonaccrual Loans

The Company’s recorded investment, by loan class, in current and nonaccrual loans, as well as an analysis of accruing delinquent loans is set forth as of the dates indicated (in thousands):

 

 

 

30-59

Days

Past Due

 

 

60-89

Days

Past Due

 

 

Greater

Than

90 Days

 

 

Total

Past

Due

 

 

Nonaccrual

 

 

Current

 

 

Total

Loans

 

June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial business

 

$

2,346

 

 

$

115

 

 

$

—

 

 

$

2,461

 

 

$

638

 

 

$

591,022

 

 

$

594,121

 

Commercial mortgage

 

 

1,741

 

 

 

149

 

 

 

—

 

 

 

1,890

 

 

 

6,836

 

 

 

1,003,199

 

 

 

1,011,925

 

Residential real estate loans

 

 

916

 

 

 

109

 

 

 

—

 

 

 

1,025

 

 

 

2,283

 

 

 

532,565

 

 

 

535,873

 

Residential real estate lines

 

 

77

 

 

 

97

 

 

 

—

 

 

 

174

 

 

 

282

 

 

 

104,481

 

 

 

104,937

 

Consumer indirect

 

 

2,009

 

 

 

419

 

 

 

—

 

 

 

2,428

 

 

 

1,399

 

 

 

843,002

 

 

 

846,829

 

Other consumer

 

 

82

 

 

 

2

 

 

 

5

 

 

 

89

 

 

 

20

 

 

 

16,270

 

 

 

16,379

 

Total loans, gross

 

$

7,171

 

 

$

891

 

 

$

5

 

 

$

8,067

 

 

$

11,458

 

 

$

3,090,539

 

 

$

3,110,064

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial business

 

$

227

 

 

$

1

 

 

$

—

 

 

$

228

 

 

$

912

 

 

$

555,900

 

 

$

557,040

 

Commercial mortgage

 

 

574

 

 

 

—

 

 

 

—

 

 

 

574

 

 

 

1,586

 

 

 

958,105

 

 

 

960,265

 

Residential real estate loans

 

 

1,295

 

 

 

242

 

 

 

—

 

 

 

1,537

 

 

 

2,391

 

 

 

511,053

 

 

 

514,981

 

Residential real estate lines

 

 

102

 

 

 

—

 

 

 

—

 

 

 

102

 

 

 

255

 

 

 

106,355

 

 

 

106,712

 

Consumer indirect

 

 

2,424

 

 

 

698

 

 

 

—

 

 

 

3,122

 

 

 

1,989

 

 

 

883,621

 

 

 

888,732

 

Other consumer

 

 

139

 

 

 

3

 

 

 

8

 

 

 

150

 

 

 

—

 

 

 

16,440

 

 

 

16,590

 

Total loans, gross

 

$

4,761

 

 

$

944

 

 

$

8

 

 

$

5,713

 

 

$

7,133

 

 

$

3,031,474

 

 

$

3,044,320

 
Summary Of Impaired Loans The following table presents the recorded investment, unpaid principal balance and related allowance of impaired loans as of the dates indicated and average recorded investment and interest income recognized on impaired loans for the six months ended June 30, 2019 and twelve-month period ended December 31, 2018 (in thousands)

 

 

Recorded

Investment (1)

 

 

Unpaid

Principal

Balance (1)

 

 

Related

Allowance

 

 

Average

Recorded

Investment

 

 

Interest

Income

Recognized

 

June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial business

 

$

398

 

 

$

520

 

 

$

—

 

 

$

342

 

 

$

—

 

Commercial mortgage

 

 

1,683

 

 

 

2,459

 

 

 

—

 

 

 

1,667

 

 

 

—

 

 

 

 

2,081

 

 

 

2,979

 

 

 

—

 

 

 

2,009

 

 

 

—

 

With an allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial business

 

 

370

 

 

 

370

 

 

 

110

 

 

 

561

 

 

 

—

 

Commercial mortgage

 

 

5,591

 

 

 

5,591

 

 

 

2,997

 

 

 

719

 

 

 

—

 

 

 

 

5,961

 

 

 

5,961

 

 

 

3,107

 

 

 

1,280

 

 

 

—

 

 

 

$

8,042

 

 

$

8,940

 

 

$

3,107

 

 

$

3,289

 

 

$

—

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial business

 

$

319

 

 

$

487

 

 

$

—

 

 

$

1,156

 

 

$

—

 

Commercial mortgage

 

 

2,013

 

 

 

2,789

 

 

 

—

 

 

 

692

 

 

 

—

 

 

 

 

2,332

 

 

 

3,276

 

 

 

—

 

 

 

1,848

 

 

 

—

 

With an allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial business

 

 

725

 

 

 

725

 

 

 

205

 

 

 

2,458

 

 

 

—

 

Commercial mortgage

 

 

21

 

 

 

21

 

 

 

1

 

 

 

1,936

 

 

 

—

 

 

 

 

746

 

 

 

746

 

 

 

206

 

 

 

4,394

 

 

 

—

 

 

 

$

3,078

 

 

$

4,022

 

 

$

206

 

 

$

6,242

 

 

$

—

 

 

(1)

Difference between recorded investment and unpaid principal balance represents partial charge-offs.
Commercial Loan Portfolio Categorized By Internally Assigned Asset Classification

The following table sets forth the Company’s commercial loan portfolio, categorized by internally assigned asset classification, as of the dates indicated (in thousands):

 

 

 

Commercial

Business

 

 

Commercial

Mortgage

 

June 30, 2019

 

 

 

 

 

 

 

 

Uncriticized

 

$

566,255

 

 

$

994,779

 

Special mention

 

 

19,435

 

 

 

5,962

 

Substandard

 

 

8,431

 

 

 

11,184

 

Doubtful

 

 

—

 

 

 

—

 

Total

 

$

594,121

 

 

$

1,011,925

 

December 31, 2018

 

 

 

 

 

 

 

 

Uncriticized

 

$

531,756

 

 

$

943,991

 

Special mention

 

 

16,499

 

 

 

10,633

 

Substandard

 

 

8,785

 

 

 

5,641

 

Doubtful

 

 

—

 

 

 

—

 

Total

 

$

557,040

 

 

$

960,265

 
Retail Loan Portfolio Categorized By Payment Status The following table sets forth the Company’s retail loan portfolio, categorized by payment status, as of the dates indicated (in thousands):

 

 

Residential

Real Estate

Loans

 

 

Residential

Real Estate

Lines

 

 

Consumer

Indirect

 

 

Other

Consumer

 

June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

533,590

 

 

$

104,655

 

 

$

845,430

 

 

$

16,354

 

Non-performing

 

 

2,283

 

 

 

282

 

 

 

1,399

 

 

 

25

 

Total

 

$

535,873

 

 

$

104,937

 

 

$

846,829

 

 

$

16,379

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

512,590

 

 

$

106,457

 

 

$

886,743

 

 

$

16,582

 

Non-performing

 

 

2,391

 

 

 

255

 

 

 

1,989

 

 

 

8

 

Total

 

$

514,981

 

 

$

106,712

 

 

$

888,732

 

 

$

16,590

 

 
Changes In The Allowance For Loan Losses

Loans and the related allowance for loan losses are presented below as of the dates indicated (in thousands):

 

 

 

Commercial

Business

 

 

Commercial

Mortgage

 

 

Residential

Real Estate

Loans

 

 

Residential

Real Estate

Lines

 

 

Consumer

Indirect

 

 

Other

Consumer

 

 

Total

 

June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

594,121

 

 

$

1,011,925

 

 

$

535,873

 

 

$

104,937

 

 

$

846,829

 

 

$

16,379

 

 

$

3,110,064

 

Evaluated for impairment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually

 

$

768

 

 

$

7,274

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

8,042

 

Collectively

 

$

593,353

 

 

$

1,004,651

 

 

$

535,873

 

 

$

104,937

 

 

$

846,829

 

 

$

16,379

 

 

$

3,102,022

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

11,717

 

 

$

8,790

 

 

$

1,217

 

 

$

145

 

 

$

12,157

 

 

$

408

 

 

$

34,434

 

Evaluated for impairment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually

 

$

110

 

 

$

2,997

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

3,107

 

Collectively

 

$

11,607

 

 

$

5,793

 

 

$

1,217

 

 

$

145

 

 

$

12,157

 

 

$

408

 

 

$

31,327

 

June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

506,265

 

 

$

869,192

 

 

$

481,841

 

 

$

110,319

 

 

$

874,718

 

 

$

16,508

 

 

$

2,858,843

 

Evaluated for impairment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually

 

$

4,164

 

 

$

2,628

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

6,792

 

Collectively

 

$

502,101

 

 

$

866,564

 

 

$

481,841

 

 

$

110,319

 

 

$

874,718

 

 

$

16,508

 

 

$

2,852,051

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

14,242

 

 

$

5,371

 

 

$

1,255

 

 

$

248

 

 

$

12,520

 

 

$

319

 

 

$

33,955

 

Evaluated for impairment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually

 

$

1,226

 

 

$

517

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,743

 

Collectively

 

$

13,016

 

 

$

4,854

 

 

$

1,255

 

 

$

248

 

 

$

12,520

 

 

$

319

 

 

$

32,212

 

The following table sets forth the changes in the allowance for loan losses for the three and six-month periods ended June 30, 2019 (in thousands):

 

 

 

Commercial

Business

 

 

Commercial

Mortgage

 

 

Residential

Real Estate

Loans

 

 

Residential

Real Estate

Lines

 

 

Consumer

Indirect

 

 

Other

Consumer

 

 

Total

 

Three months ended June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

12,167

 

 

$

6,316

 

 

$

1,265

 

 

$

173

 

 

$

13,025

 

 

$

381

 

 

$

33,327

 

Charge-offs

 

 

(138

)

 

 

(3

)

 

 

(87

)

 

 

(2

)

 

 

(2,700

)

 

 

(243

)

 

 

(3,173

)

Recoveries

 

 

128

 

 

 

—

 

 

 

11

 

 

 

3

 

 

 

1,678

 

 

 

106

 

 

 

1,926

 

Provision (credit)

 

 

(440

)

 

 

2,477

 

 

 

28

 

 

 

(29

)

 

 

154

 

 

 

164

 

 

 

2,354

 

Ending balance

 

$

11,717

 

 

$

8,790

 

 

$

1,217

 

 

$

145

 

 

$

12,157

 

 

$

408

 

 

$

34,434

 

Six months ended June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

14,312

 

 

$

5,219

 

 

$

1,112

 

 

$

210

 

 

$

12,572

 

 

$

489

 

 

$

33,914

 

Charge-offs

 

 

(268

)

 

 

(3

)

 

 

(118

)

 

 

(2

)

 

 

(5,682

)

 

 

(552

)

 

 

(6,625

)

Recoveries

 

 

231

 

 

 

17

 

 

 

17

 

 

 

5

 

 

 

3,102

 

 

 

226

 

 

 

3,598

 

Provision (credit)

 

 

(2,558

)

 

 

3,557

 

 

 

206

 

 

 

(68

)

 

 

2,165

 

 

 

245

 

 

 

3,547

 

Ending balance

 

$

11,717

 

 

$

8,790

 

 

$

1,217

 

 

$

145

 

 

$

12,157

 

 

$

408

 

 

$

34,434

 

The following table sets forth the changes in the allowance for loan losses for the three and six-month periods ended June 30, 2018 (in thousands):

 

 

 

Commercial

Business

 

 

Commercial

Mortgage

 

 

Residential

Real Estate

Loans

 

 

Residential

Real Estate

Lines

 

 

Consumer

Indirect

 

 

Other

Consumer

 

 

Total

 

Three months ended June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

14,942

 

 

$

5,473

 

 

$

1,400

 

 

$

218

 

 

$

13,232

 

 

$

329

 

 

$

35,594

 

Charge-offs

 

 

(336

)

 

 

—

 

 

 

(10

)

 

 

(7

)

 

 

(2,621

)

 

 

(235

)

 

 

(3,209

)

Recoveries

 

 

77

 

 

 

1

 

 

 

63

 

 

 

12

 

 

 

1,304

 

 

 

73

 

 

 

1,530

 

Provision (credit)

 

 

(441

)

 

 

(103

)

 

 

(198

)

 

 

25

 

 

 

605

 

 

 

152

 

 

 

40

 

Ending balance

 

$

14,242

 

 

$

5,371

 

 

$

1,255

 

 

$

248

 

 

$

12,520

 

 

$

319

 

 

$

33,955

 

Six months ended June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

15,668

 

 

$

3,696

 

 

$

1,322

 

 

$

180

 

 

$

13,415

 

 

$

391

 

 

$

34,672

 

Charge-offs

 

 

(441

)

 

 

(4

)

 

 

(29

)

 

 

(101

)

 

 

(5,615

)

 

 

(668

)

 

 

(6,858

)

Recoveries

 

 

197

 

 

 

8

 

 

 

132

 

 

 

15

 

 

 

2,634

 

 

 

166

 

 

 

3,152

 

Provision (credit)

 

 

(1,182

)

 

 

1,671

 

 

 

(170

)

 

 

154

 

 

 

2,086

 

 

 

430

 

 

 

2,989

 

Ending balance

 

$

14,242

 

 

$

5,371

 

 

$

1,255

 

 

$

248

 

 

$

12,520

 

 

$

319

 

 

$

33,955