XML 24 R11.htm IDEA: XBRL DOCUMENT v3.6.0.2
Loans and Allowances for Credit Losses
 12 Months Ended
Dec. 31, 2016
Loans Receivable, Net [Abstract]  
Loans [Text Block]
Loans and Allowances for Credit Losses

The portfolio segments of the loan portfolio are as follows (in thousands):

 
 
December 31, 2016
 
December 31, 2015
 
 
Fixed
Rate
 
Variable
Rate
 
Non-accrual
 
Total
 
Fixed
Rate
 
Variable
Rate
 
Non-accrual
 
Total
Commercial
 
$
2,327,085

 
$
7,884,786

 
$
178,953

 
$
10,390,824

 
$
1,850,548

 
$
8,325,559

 
$
76,424

 
$
10,252,531

Commercial real estate
 
624,187

 
3,179,338

 
5,521

 
3,809,046

 
627,678

 
2,622,354

 
9,001

 
3,259,033

Residential mortgage
 
1,647,357

 
256,255

 
46,220

 
1,949,832

 
1,598,992

 
216,661

 
61,240

 
1,876,893

Personal
 
154,971

 
684,697

 
290

 
839,958

 
91,816

 
460,418

 
463

 
552,697

Total
 
$
4,753,600

 
$
12,005,076

 
$
230,984

 
$
16,989,660

 
$
4,169,034

 
$
11,624,992

 
$
147,128

 
$
15,941,154

Accruing loans past due (90 days)1
 
 

 
 

 
 

 
$
5

 
 

 
 

 
 

 
$
1,207

Foregone interest on nonaccrual loans
 
 
 
 
 
 
 
$
15,990

 
 
 
 
 
 
 
$
7,432

1 
Excludes residential mortgage loans guaranteed by agencies of the U.S. government.

At December 31, 2016, loans to businesses and individuals with collateral primarily located in Texas totaled $5.4 billion or 32% of the total loan portfolio. Loans to businesses and individuals with collateral primarily located in Oklahoma totaled $3.5 billion or 21% of our total loan portfolio. Loans for which the collateral location is not relevant, such as unsecured loans and reserve-based energy loans, are distributed by the borrower’s primary operating location. These geographic concentrations subject the loan portfolio to the general economic conditions within these areas. At December 31, 2015, loans to businesses and individuals with collateral primarily located in Texas totaled $5.3 billion or 33% of the loan portfolio and loans to businesses and individuals with collateral primarily located in Oklahoma totaled $3.9 billion or 24% of the loan portfolio.

Commercial

Commercial loans represent loans for working capital, facilities acquisition or expansion, purchases of equipment and other needs of commercial customers primarily located within our geographical footprint. Commercial loans are underwritten individually and represent on-going relationships based on a thorough knowledge of the customer, the customer’s industry and market. While commercial loans are generally secured by the customer’s assets including real property, inventory, accounts receivable, operating equipment, interest in mineral rights and other property and may also include personal guarantees of the owners and related parties, the primary source of repayment of the loans is the on-going cash flow from operations of the customer’s business. Inherent lending risk is centrally monitored on a continuous basis from underwriting throughout the life of the loan for compliance with commercial lending policies.

At December 31, 2016, commercial loans with collateral primarily located in Texas totaled $3.3 billion or 32% of the commercial loan portfolio segment and commercial loans with collateral primarily located in Oklahoma totaled $2.1 billion or 21% of the commercial loan portfolio segment. The commercial loan portfolio segment is further divided into loan classes. The services loan class totaled $3.1 billion or 18% of total loans. Approximately $1.4 billion of loans in the services class consisted of loans with individual balances of less than $10 million. Businesses included in the services class include governmental, financial & insurance, educational, religious and not-for-profit and professional/technical services. The energy loan class totaled $2.5 billion or 15% of total loans, including $2.0 billion of outstanding loans to energy producers. Approximately 57% of committed production loans were secured by properties primarily producing oil and 43% are secured by properties producing natural gas. The healthcare loan class totaled $2.2 billion or 13% of total loans. The healthcare loan class consists primarily of loans for the development and operation of senior housing and care facilities, including independent living, assisted living and skilled nursing. Healthcare also includes loans to hospitals and other medical service providers.

At December 31, 2015, commercial loans with collateral primarily located in Texas totaled $3.5 billion or 34% of the commercial loan portfolio segment and commercial loans with collateral primarily located in Oklahoma totaled $2.5 billion or 24% of the commercial loan portfolio segment. The energy loan class totaled $3.1 billion or 19% of total loans, including $2.5 billion of outstanding loans to energy producers. At December 31, 2015, approximately 62% of committed production loans were secured by properties primarily producing oil and 38% were secured by properties producing natural gas. The services loan class totaled $2.8 billion or 17% of total loans. Approximately $1.2 billion of loans in the services category consisted of loans with individual balances of less than $10 million. The healthcare loan class totaled $1.9 billion or 12% of total loans.

Commercial Real Estate

Commercial real estate loans are for the construction of buildings or other improvements to real estate and property held by borrowers for investment purposes primarily within our geographical footprint. We require collateral values in excess of the loan amounts, demonstrated cash flows in excess of expected debt service requirements, equity investment in the project and a portion of the project already sold, leased or permanent financing already secured. The expected cash flows from all significant new or renewed income producing property commitments are stress tested to reflect the risks in varying interest rates, vacancy rates and rental rates. As with commercial loans, inherent lending risks are centrally monitored on a continuous basis from underwriting throughout the life of the loan for compliance with applicable lending policies.

At December 31, 2016, 30% of commercial real estate loans are secured by properties primarily located in the Dallas and Houston areas of Texas. An additional 11% of commercial real estate loans are secured by properties located primarily in the Tulsa and Oklahoma City metropolitan areas of Oklahoma. At December 31, 2015, 30% of commercial real estate loans were secured by properties in Texas, 13% of commercial real estate loans were secured by properties in Oklahoma.

Residential Mortgage and Personal

Residential mortgage loans provide funds for our customers to purchase or refinance their primary residence or to borrow against the equity in their home. Residential mortgage loans are secured by a first or second mortgage on the customer’s primary residence. Personal loans consist primarily of loans secured by the cash surrender value of insurance policies and marketable securities. It also includes direct loans secured by and for the purchase of automobiles, recreational and marine equipment as well as other unsecured loans. Residential mortgage and personal loans are made in accordance with underwriting policies. Credit scoring is assessed based on significant credit characteristics including credit history, residential and employment stability. Residential mortgage loans retained in the Company’s portfolio are primarily composed of various mortgage programs to support customer relationships including jumbo mortgage loans, non-builder construction loans and special loan programs for high net worth individuals and certain professionals. Jumbo loans may be fixed or variable rate and are fully amortizing. Jumbo loans generally conform to government sponsored entity standards, except that the loan size exceeds maximums required under these standards. These loans generally require a minimum FICO score of 720 and a maximum debt-to-income ratio (“DTI”) of 38%. Loan-to-value (“LTV”) ratios are tiered from 60% to 100%, depending on the market. Special mortgage programs include fixed and variable fully amortizing loans tailored to the needs of certain healthcare professionals. Variable rate loans are fully indexed at origination and may have fixed rates for three to ten years, then adjust annually thereafter. 

At December 31, 2016 and 2015, residential mortgage loans included $199 million and $197 million, respectively, of loans guaranteed by U.S. government agencies previously sold into GNMA mortgage pools. These loans either have been repurchased or are eligible to be repurchased by the Company when certain defined delinquency criteria are met. Although payments on these loans generally are past due more than 90 days, interest continues to accrue based on the government guarantee.

Home equity loans totaled $744 million at December 31, 2016 and $735 million at December 31, 2015. At December 31, 2016, 65% of the home equity loan portfolio was comprised of first lien loans and 35% of the home equity portfolio was comprised of junior lien loans. Junior lien loans were distributed 52% to amortizing term loans and 48% to revolving lines of credit. At December 31, 2015, 68% of the home equity portfolio was comprised of first lien loans and 32% of the home equity loan portfolio was comprised of junior lien loans. Junior lien loans were distributed 65% to amortizing term loans and 35% to revolving lines of credit. Home equity loans generally require a minimum FICO score of 700 and a maximum DTI of 40%. The maximum loan amount available for our home equity loan products is generally $400 thousand. Revolving loans have a 5 year revolving period followed by 15 year term of amortizing repayments. Interest-only home equity loans may not be extended for any additional revolving time. All other home equity loans may be extended at management's discretion for an additional 5 year revolving term subject to an update of certain credit information.

At December 31, 2016, 33% of residential mortgage loans are secured by properties located in Oklahoma, 29% of residential mortgage loans are secured by properties located in Texas, 10% of residential mortgage are secured by properties located in New Mexico and 10% of residential mortgage are secured by properties located in Colorado. At December 31, 2015, 37% of residential mortgage loans were secured by properties in Oklahoma, 29% of residential mortgage were secured by properties in Texas, 12% of residential mortgage loans are secured by properties in New Mexico and 9% of residential mortgage loans are secured by properties in Colorado.

Credit Commitments
 
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of conditions established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. At December 31, 2016, outstanding commitments totaled $9.4 billion. Because some commitments are expected to expire before being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. BOK Financial uses the same credit policies in making commitments as it does loans.

The amount of collateral obtained, if deemed necessary, is based upon management’s credit evaluation of the borrower.

Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Because the credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loan commitments, BOK Financial uses the same credit policies in evaluating the creditworthiness of the customer. Additionally, BOK Financial uses the same evaluation process in obtaining collateral on standby letters of credit as it does for loan commitments. The term of these standby letters of credit is defined in each commitment and typically corresponds with the underlying loan commitment. At December 31, 2016, outstanding standby letters of credit totaled $585 million. Commercial letters of credit are used to facilitate customer trade transactions with the drafts being drawn when the underlying transaction is consummated. At December 31, 2016, outstanding commercial letters of credit totaled $4.2 million.

Allowances for Credit Losses

BOK Financial maintains an allowance for loan losses and an accrual for off-balance sheet credit risk. The accrual for off-balance sheet credit risk is maintained at a level that is appropriate to cover estimated losses associated with credit instruments that are not currently recognized as assets such as loan commitments, standby letters of credit or guarantees. As discussed in greater detail in Note 7, the Company also has separate accruals related to off-balance sheet credit risk related to residential mortgage loans previously sold with full or partial recourse and for residential mortgage loans sold to government sponsored agencies under standard representations and warranties.

The allowance for loan losses consists of specific allowances attributed to impaired loans that have not yet been charged down to amounts we expect to recover, general allowances for unimpaired loans based on estimated loss rates by loan class and nonspecific allowances based on general economic conditions, concentration in loans with large balances and other relevant factors.

The activity in the allowance for loan losses and the accrual for off-balance sheet credit risk related to loan commitments and standby letters of credit for the year ended December 31, 2016 is summarized as follows (in thousands):
 
 
Commercial
 
Commercial Real Estate
 
Residential Mortgage
 
Personal
 
Nonspecific Allowance
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
130,334

 
$
41,391

 
$
19,509

 
$
4,164

 
$
30,126

 
$
225,524

Provision for loan losses
 
43,980

 
8,075

 
(1,972
)
 
7,310

 
(1,926
)
 
55,467

Loans charged off
 
(35,828
)
 
—

 
(1,312
)
 
(5,448
)
 
—

 
(42,588
)
Recoveries
 
1,727

 
1,283

 
1,999

 
2,747

 
—

 
7,756

Ending balance
 
$
140,213

 
$
50,749

 
$
18,224

 
$
8,773

 
$
28,200

 
$
246,159

 
 
 
 
 
 
 
 
 
 
 
 
 
Accrual for off-balance sheet credit risk:
 
 

 
 

 
 

 
 

 
 

 
 

Beginning balance
 
$
1,506

 
$
153

 
$
30

 
$
22

 
$
—

 
$
1,711

Provision for off-balance sheet credit risk
 
9,557

 
(30
)
 
20

 
(14
)
 
—

 
9,533

Ending balance
 
$
11,063

 
$
123

 
$
50

 
$
8

 
$
—

 
$
11,244

 
 
 
 
 
 
 
 
 
 
 
 
 
Total provision for credit losses
 
$
53,537

 
$
8,045

 
$
(1,952
)
 
$
7,296

 
$
(1,926
)
 
$
65,000




The activity in the allowance for loan losses and the accrual for off-balance sheet credit risk related to loan commitments and standby letters of credit for the year ended December 31, 2015 is summarized as follows (in thousands):

 
 
Commercial
 
Commercial Real Estate
 
Residential Mortgage
 
Personal
 
Nonspecific Allowance
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
90,875

 
$
42,445

 
$
23,458

 
$
4,233

 
$
28,045

 
$
189,056

Provision for loan losses
 
43,464

 
(11,189
)
 
(3,004
)
 
2,167

 
2,081

 
33,519

Loans charged off
 
(6,734
)
 
(944
)
 
(2,205
)
 
(5,288
)
 
—

 
(15,171
)
Recoveries
 
2,729

 
11,079

 
1,260

 
3,052

 
—

 
18,120

Ending balance
 
$
130,334

 
$
41,391

 
$
19,509

 
$
4,164

 
$
30,126

 
$
225,524

 
 
 
 
 
 
 
 
 
 
 
 
 
Accrual for off-balance sheet credit risk:
 
 

 
 

 
 

 
 

 
 

 
 

Beginning balance
 
$
475

 
$
707

 
$
28

 
$
20

 
$
—

 
$
1,230

Provision for off-balance sheet credit risk
 
1,031

 
(554
)
 
2

 
2

 
—

 
481

Ending balance
 
$
1,506

 
$
153

 
$
30

 
$
22

 
$
—

 
$
1,711

 
 
 
 
 
 
 
 
 
 
 
 
 
Total provision for credit losses
 
$
44,495

 
$
(11,743
)
 
$
(3,002
)
 
$
2,169

 
$
2,081

 
$
34,000



The activity in the allowance for loan losses and the accrual for off-balance sheet credit risk related to loan commitments and standby letters of credit for the year ended December 31, 2014 is summarized as follows (in thousands):

 
 
Commercial
 
Commercial Real Estate
 
Residential Mortgage
 
Personal
 
Nonspecific Allowance
 
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
79,180

 
$
41,573

 
$
29,465

 
$
6,965

 
$
28,213

 
$
185,396

Provision for loan losses
 
9,561

 
(4,084
)
 
(3,559
)
 
(892
)
 
(168
)
 
858

Loans charged off
 
(3,569
)
 
(2,047
)
 
(4,448
)
 
(6,168
)
 
—

 
(16,232
)
Recoveries
 
5,703

 
7,003

 
2,000

 
4,328

 
—

 
19,034

Ending balance
 
$
90,875

 
$
42,445

 
$
23,458

 
$
4,233

 
$
28,045

 
$
189,056

 
 
 
 
 
 
 
 
 
 
 
 
 
Accrual for off-balance sheet credit risk:
 
 

 
 

 
 

 
 

 
 

 
 

Beginning balance
 
$
119

 
$
1,876

 
$
90

 
$
3

 
$
—

 
$
2,088

Provision for off-balance sheet credit risk
 
356

 
(1,169
)
 
(62
)
 
17

 
—

 
(858
)
Ending balance
 
$
475

 
$
707

 
$
28

 
$
20

 
$
—

 
$
1,230

 
 
 
 
 
 
 
 
 
 
 
 
 
Total provision for credit losses
 
$
9,917

 
$
(5,253
)
 
$
(3,621
)
 
$
(875
)
 
$
(168
)
 
$
—






The allowance for loan losses and recorded investment of the related loans by portfolio segment for each impairment measurement method at December 31, 2016 is as follows (in thousands):

 
 
Collectively Measured
for Impairment
 
Individually Measured
for Impairment
 
Total
 
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related
Allowance
Commercial
 
$
10,211,871

 
$
139,416

 
$
178,953

 
$
797

 
$
10,390,824

 
$
140,213

Commercial real estate
 
3,803,525

 
50,749

 
5,521

 
—

 
3,809,046

 
50,749

Residential mortgage
 
1,903,612

 
18,178

 
46,220

 
46

 
1,949,832

 
18,224

Personal
 
839,668

 
8,773

 
290

 
—

 
839,958

 
8,773

Total
 
16,758,676

 
217,116

 
230,984

 
843

 
16,989,660

 
217,959

 
 
 
 
 
 
 
 
 
 
 
 
 
Nonspecific allowance
 
—

 
—

 
—

 
—

 
—

 
28,200

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
16,758,676

 
$
217,116

 
$
230,984

 
$
843

 
$
16,989,660

 
$
246,159



The allowance for loan losses and recorded investment of the related loans by portfolio segment for each impairment measurement method at December 31, 2015 is as follows (in thousands):

 
 
Collectively Measured
for Impairment
 
Individually Measured
for Impairment
 
Total
 
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related
Allowance
Commercial
 
$
10,176,107

 
$
114,027

 
$
76,424

 
$
16,307

 
$
10,252,531

 
$
130,334

Commercial real estate
 
3,250,032

 
41,373

 
9,001

 
18

 
3,259,033

 
41,391

Residential mortgage
 
1,815,653

 
19,441

 
61,240

 
68

 
1,876,893

 
19,509

Personal
 
552,234

 
4,164

 
463

 
—

 
552,697

 
4,164

Total
 
15,794,026

 
179,005

 
147,128

 
16,393

 
15,941,154

 
195,398

 
 
 
 
 
 
 
 
 
 
 
 
 
Nonspecific allowance
 
—

 
—

 
—

 
—

 
—

 
30,126

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
15,794,026

 
$
179,005

 
$
147,128

 
$
16,393

 
$
15,941,154

 
$
225,524




Credit Quality Indicators

The Company utilizes loan class and risk grading as primary credit quality indicators. Substantially all commercial and commercial real estate loans and certain residential mortgage and personal loans are risk graded based on a quarterly evaluation of the borrowers’ ability to repay the loans. Certain commercial loans and most residential mortgage and personal loans are small, homogeneous pools that are not risk graded. 

The allowance for loan losses and recorded investment of the related loans by portfolio segment for risk graded and non-risk graded loans at December 31, 2016 is as follows (in thousands):

 
 
Internally Risk Graded
 
Non-Graded
 
Total
 
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related
Allowance
Commercial
 
$
10,360,725

 
$
139,293

 
$
30,099

 
$
920

 
$
10,390,824

 
$
140,213

Commercial real estate
 
3,809,046

 
50,749

 
—

 
—

 
3,809,046

 
50,749

Residential mortgage
 
243,703

 
2,893

 
1,706,129

 
15,331

 
1,949,832

 
18,224

Personal
 
744,602

 
5,035

 
95,356

 
3,738

 
839,958

 
8,773

Total
 
15,158,076

 
197,970

 
1,831,584

 
19,989

 
16,989,660

 
217,959

 
 
 
 
 
 
 
 
 
 
 
 
 
Nonspecific allowance
 
—

 
—

 
—

 
—

 
—

 
28,200

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
15,158,076

 
$
197,970

 
$
1,831,584

 
$
19,989

 
$
16,989,660

 
$
246,159

 
The allowance for loan losses and recorded investment of the related loans by portfolio segment for risk graded and non-risk graded loans at December 31, 2015 is as follows (in thousands):

 
 
Internally Risk Graded
 
Non-Graded
 
Total
 
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related Allowance
 
Recorded Investment
 
Related
Allowance
Commercial
 
$
10,227,303

 
$
129,426

 
$
25,228

 
$
908

 
$
10,252,531

 
$
130,334

Commercial real estate
 
3,259,033

 
41,391

 
—

 
—

 
3,259,033

 
41,391

Residential mortgage
 
196,701

 
2,883

 
1,680,192

 
16,626

 
1,876,893

 
19,509

Personal
 
467,955

 
1,390

 
84,742

 
2,774

 
552,697

 
4,164

Total
 
14,150,992

 
175,090

 
1,790,162

 
20,308

 
15,941,154

 
195,398

 
 
 
 
 
 
 
 
 
 
 
 
 
Nonspecific allowance
 
—

 
—

 
—

 
—

 
—

 
30,126

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
14,150,992

 
$
175,090

 
$
1,790,162

 
$
20,308

 
$
15,941,154

 
$
225,524



Loans are considered to be performing if they are in compliance with the original terms of the agreement which is consistent with the regulatory guideline of “pass.” Performing also includes loans considered to be “other loans especially mentioned” by regulatory guidelines and all residential mortgage loans guaranteed by agencies of the U.S. government that continue to accrue interest based on criteria of the guarantor's programs. Other loans especially mentioned are currently performing in compliance with the original terms of the agreement but may have a potential weakness that deserves management's close attention, consistent with regulatory guidelines.

The risk grading process identified certain loans that have a well-defined weakness (e.g. inadequate debt service coverage or liquidity or marginal capitalization; repayment may depend on collateral or other risk mitigation) that may jeopardize liquidation of the debt and represent a greater risk due to deterioration in the financial condition of the borrower. This is consistent with the regulatory guideline for “substandard.” Because the borrowers are still performing in accordance with the original terms of the loan agreements, these loans were not placed in nonaccruing status. 

Nonaccruing loans represent loans for which full collection of principal and interest in accordance with the original terms of the loan agreements is uncertain. This is substantially the same criteria used to determine whether a loan is impaired and includes certain loans considered “substandard” and all loans considered “doubtful” by regulatory guidelines.

The following table summarizes the Company’s loan portfolio at December 31, 2016 by the risk grade categories (in thousands): 
 
 
Internally Risk Graded
 
Non-Graded
 
 
 
 
Performing
 
 
 
 
 
 
 
 
 
 
Pass
 
Other Loans Especially Mentioned
 
Accruing
Substandard
 
Nonaccrual
 
Performing
 
Nonaccrual
 
Total
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy
 
$
1,937,790

 
$
119,583

 
$
307,996

 
$
132,499

 
—

 
—

 
$
2,497,868

Services
 
3,052,002

 
10,960

 
37,855

 
8,173

 
—

 
—

 
3,108,990

Wholesale/retail
 
1,535,463

 
16,886

 
13,062

 
11,407

 
—

 
—

 
1,576,818

Manufacturing
 
468,314

 
26,532

 
15,198

 
4,931

 
—

 
—

 
514,975

Healthcare
 
2,140,458

 
44,472

 
16,161

 
825

 
—

 
—

 
2,201,916

Other commercial and industrial
 
433,789

 
5,309

 
—

 
21,060

 
30,041

 
58

 
490,257

Total commercial
 
9,567,816

 
223,742

 
390,272

 
178,895

 
30,041

 
58

 
10,390,824

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 
 
 

 
 

 
 

 
 

Residential construction and land development
 
131,630

 
—

 
470

 
3,433

 
—

 
—

 
135,533

Retail
 
756,418

 
4,745

 
399

 
326

 
—

 
—

 
761,888

Office
 
798,462

 
—

 
—

 
426

 
—

 
—

 
798,888

Multifamily
 
898,800

 
—

 
4,434

 
38

 
—

 
—

 
903,272

Industrial
 
871,673

 
—

 
—

 
76

 
—

 
—

 
871,749

Other commercial real estate
 
336,488

 
—

 
6

 
1,222

 
—

 
—

 
337,716

Total commercial real estate
 
3,793,471

 
4,745

 
5,309

 
5,521

 
—

 
—

 
3,809,046

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 
 
 

 
 

 
 

 
 

Permanent mortgage
 
238,769

 
1,186

 
2,331

 
1,417

 
741,679

 
21,438

 
1,006,820

Permanent mortgages guaranteed by U.S. government agencies
 
—

 
—

 
—

 
—

 
187,541

 
11,846

 
199,387

Home equity
 
—

 
—

 
—

 
—

 
732,106

 
11,519

 
743,625

Total residential mortgage
 
238,769

 
1,186

 
2,331

 
1,417

 
1,661,326

 
44,803

 
1,949,832

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Personal
 
743,451

 
—

 
1,054

 
97

 
95,163

 
193

 
839,958

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
14,343,507

 
$
229,673

 
$
398,966

 
$
185,930

 
$
1,786,530

 
$
45,054

 
$
16,989,660


The following table summarizes the Company’s loan portfolio at December 31, 2015 by the risk grade categories (in thousands): 
 
 
Internally Risk Graded
 
Non-Graded
 
 
 
 
Performing
 
 
 
 
 
 
 
 
 
 
Pass
 
Other Loans Especially Mentioned
 
Accruing Substandard
 
Nonaccrual
 
Performing
 
Nonaccrual
 
Total
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy
 
$
2,580,694

 
$
325,663

 
$
129,782

 
61,189

 
$
—

 
$
—

 
$
3,097,328

Services
 
2,763,929

 
3,296

 
6,761

 
10,290

 
—

 
—

 
2,784,276

Wholesale/retail
 
1,394,596

 
18,184

 
6,365

 
2,919

 
—

 
—

 
1,422,064

Manufacturing
 
534,966

 
19,560

 
1,872

 
331

 
—

 
—

 
556,729

Healthcare
 
1,876,745

 
5,563

 
—

 
1,072

 
—

 
—

 
1,883,380

Other commercial and industrial
 
477,551

 
5,479

 
—

 
496

 
25,101

 
127

 
508,754

Total commercial
 
9,628,481

 
377,745

 
144,780

 
76,297

 
25,101

 
127

 
10,252,531

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 

 
 
 
 

 
 

 
 

Residential construction and land development
 
154,369

 
1,355

 
293

 
4,409

 
—

 
—

 
160,426

Retail
 
788,708

 
6,046

 
426

 
1,319

 
—

 
—

 
796,499

Office
 
636,210

 
291

 
555

 
651

 
—

 
—

 
637,707

Multifamily
 
744,299

 
—

 
6,512

 
274

 
—

 
—

 
751,085

Industrial
 
563,093

 
—

 
—

 
76

 
—

 
—

 
563,169

Other commercial real estate
 
347,864

 
—

 
11

 
2,272

 
—

 
—

 
350,147

Total commercial real estate
 
3,234,543

 
7,692

 
7,797

 
9,001

 
—

 
—

 
3,259,033

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 

 
 
 
 

 
 

 
 

Permanent mortgage
 
192,367

 
89

 
1,932

 
2,313

 
721,964

 
26,671

 
945,336

Permanent mortgages guaranteed by U.S. government agencies
 
—

 
—

 
—

 
—

 
175,037

 
21,900

 
196,937

Home equity
 
—

 
—

 
—

 
—

 
724,264

 
10,356

 
734,620

Total residential mortgage
 
192,367

 
89

 
1,932

 
2,313

 
1,621,265

 
58,927

 
1,876,893

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Personal
 
467,808

 
3

 
14

 
130

 
84,409

 
333

 
552,697

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
13,523,199

 
$
385,529

 
$
154,523

 
87,741

 
$
1,730,775

 
$
59,387

 
$
15,941,154





Impaired Loans

Loans are considered to be impaired when it is probable that the Company will not be able to collect all amounts due according to the contractual terms of the loan agreement. This includes all nonaccruing loans, all loans modified in a troubled debt restructuring and all loans repurchased from GNMA pools.

A summary of impaired loans follows (in thousands):
 
As of December 31, 2016
 
Year Ended
 
 
 
Recorded Investment
 
 
 
December 31, 2016
 
Unpaid
Principal
Balance
 
Total
 
With No
Allowance
 
With Allowance
 
Related Allowance
 
Average Recorded
Investment
 
Interest Income Recognized
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy
$
146,897

 
$
132,499

 
$
121,418

 
$
11,081

 
$
762

 
$
80,100

 
$
—

Services
11,723

 
8,173

 
8,173

 
—

 
—

 
9,232

 
—

Wholesale/retail
17,669

 
11,407

 
11,407

 
—

 
—

 
7,163

 
—

Manufacturing
5,320

 
4,931

 
4,931

 
—

 
—

 
2,631

 
—

Healthcare
1,147

 
825

 
825

 
—

 
—

 
949

 
—

Other commercial and industrial
29,006

 
21,118

 
21,083

 
35

 
35

 
10,870

 
—

Total commercial
211,762

 
178,953

 
167,837

 
11,116

 
797

 
110,945

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 

 
 

 
 

 
 

 
 

 
 

 
 

Residential construction and land development
4,951

 
3,433

 
3,433

 
—

 
—

 
3,921

 
—

Retail
530

 
326

 
326

 
—

 
—

 
823

 
—

Office
521

 
426

 
426

 
—

 
—

 
539

 
—

Multifamily
1,000

 
38

 
38

 
—

 
—

 
156

 
—

Industrial
76

 
76

 
76

 
—

 
—

 
76

 
—

Other commercial real estate
7,349

 
1,222

 
1,222

 
—

 
—

 
1,747

 
—

Total commercial real estate
14,427

 
5,521

 
5,521

 
—

 
—

 
7,262

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 

 
 

 
 

 
 

 
 

 
 

 
 

Permanent mortgage
28,830

 
22,855

 
22,809

 
46

 
46

 
25,920

 
1,255

Permanent mortgage guaranteed by U.S. government agencies1
205,564

 
199,387

 
199,387

 
—

 
—

 
193,889

 
7,759

Home equity
12,611

 
11,519

 
11,519

 
—

 
—

 
10,937

 
—

Total residential mortgage
247,005

 
233,761

 
233,715

 
46

 
46

 
230,746

 
9,014

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Personal
332

 
290

 
290

 
—

 
—

 
377

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
$
473,526

 
$
418,525

 
$
407,363

 
$
11,162

 
$
843

 
$
349,330

 
$
9,014

1 
All permanent mortgage loans guaranteed by U.S. government agencies are considered impaired as we do not expect full collection of contractual principal and interest. At December 31, 2016, $12 million of these loans are nonaccruing and $188 million are accruing based on the guarantee by U.S. government agencies.

Generally, no interest income is recognized on impaired loans until all principal balances, including amounts charged-off, have been recovered.

 
As of December 31, 2015
 
Year Ended
 
 
 
 
Recorded Investment
 
 
 
December 31, 2015
 
 
Unpaid
Principal
Balance
 
Total
 
With No
Allowance
 
With Allowance
 
Related Allowance
 
Average Recorded
Investment
 
Interest Income Recognized
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy
 
$
63,910

 
$
61,189

 
$
18,330

 
$
42,859

 
$
16,115

 
$
31,303

 
$
—

Services
 
13,449

 
10,290

 
9,657

 
633

 
148

 
7,746

 
—

Wholesale/retail
 
8,582

 
2,919

 
2,907

 
12

 
9

 
3,534

 
—

Manufacturing
 
665

 
331

 
331

 
—

 
—

 
391

 
—

Healthcare
 
1,352

 
1,072

 
931

 
141

 
35

 
1,226

 
—

Other commercial and industrial
 
8,304

 
623

 
623

 
—

 
—

 
777

 
—

Total commercial
 
96,262

 
76,424

 
32,779

 
43,645

 
16,307

 
44,977

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 

 
 

 
 

 
 
 
 
Residential construction and land development
 
8,963

 
4,409

 
4,409

 
—

 
—

 
4,854

 
—

Retail
 
1,923

 
1,319

 
1,319

 
—

 
—

 
2,622

 
—

Office
 
937

 
651

 
651

 
—

 
—

 
2,035

 
—

Multifamily
 
1,192

 
274

 
274

 
—

 
—

 
137

 
—

Industrial
 
76

 
76

 
76

 
—

 
—

 
38

 
—

Other commercial real estate
 
8,363

 
2,272

 
2,113

 
159

 
18

 
4,092

 
—

Total commercial real estate
 
21,454

 
9,001

 
8,842

 
159

 
18

 
13,778

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 

 
 

 
 

 
 
 
 
Permanent mortgage
 
37,273

 
28,984

 
28,868

 
116

 
68

 
31,914

 
1,242

Permanent mortgage guaranteed by U.S. government agencies1
 
202,984

 
196,937

 
196,937

 
—

 
—

 
196,827

 
7,814

Home equity
 
10,988

 
10,356

 
10,356

 
—

 
—

 
9,960

 
—

Total residential mortgage
 
251,245

 
236,277

 
236,161

 
116

 
68

 
238,701

 
9,056

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Personal
 
489

 
463

 
463

 
—

 
—

 
515

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
369,450

 
$
322,165

 
$
278,245

 
$
43,920

 
$
16,393

 
$
297,971

 
$
9,056

1 
All permanent mortgage loans guaranteed by U.S. government agencies are considered impaired as we do not expect full collection of contractual principal and interest. At December 31, 2015, $22 million of these loans are nonaccruing and $175 million are accruing based on the guarantee by U.S. government agencies.

Troubled Debt Restructurings

A summary of troubled debt restructurings ("TDRs") by accruing status as of December 31, 2016 is as follows (in thousands):
 
 
As of December 31, 2016
 
 
 
 
Recorded
Investment
 
Performing in Accordance With Modified Terms
 
Not
Performing in Accordance With Modified Terms
 
Specific
Allowance
 
Amounts Charged-Off During the Year Ended December 31, 2016
Nonaccruing TDRs:
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
Energy
 
$
16,893

 
$
10,867

 
$
6,026

 
$
—

 
$
4,401

Services
 
7,527

 
6,830

 
697

 
—

 
—

Wholesale/Retail
 
11,291

 
11,251

 
40

 
—

 
—

Manufacturing
 
224

 
224

 
—

 
—

 
—

Healthcare
 
607

 
—

 
607

 
—

 
—

Other commercial and industrial
 
337

 
53

 
284

 
—

 
—

Total commercial
 
36,879

 
29,225

 
7,654

 
—

 
4,401

 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 

 
 

 
 

Residential construction and land development
 
690

 
97

 
593

 
—

 
—

Retail
 
326

 
326

 
—

 
—

 
—

Office
 
143

 
143

 
—

 
—

 
—

Multifamily
 
—

 
—

 
—

 
—

 
—

Industrial
 
—

 
—

 
—

 
—

 
—

Other commercial real estate
 
548

 
548

 
—

 
—

 
—

Total commercial real estate
 
1,707

 
1,114

 
593

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 

 
 

 
 

Permanent mortgage
 
14,876

 
10,175

 
4,701

 
46

 
28

Permanent mortgage guaranteed by U.S. government agencies
 
6,702

 
2,241

 
4,461

 
—

 
—

Home equity
 
5,346

 
4,458

 
888

 
—

 
230

Total residential mortgage
 
26,924

 
16,874

 
10,050

 
46

 
258

 
 
 
 
 
 
 
 
 
 
 
Personal
 
237

 
236

 
1

 
—

 
73

 
 
 
 
 
 
 
 
 
 
 
Total nonaccruing TDRs
 
65,747

 
47,449

 
18,298

 
46

 
4,732

 
 
 
 
 
 
 
 
 
 
 
Accruing TDRs:
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 
 
 
 
 
 
 
 
 
Permanent mortgages guaranteed by U.S. government agencies
 
81,370

 
27,289

 
54,081

 
—

 
—

Total residential mortgage
 
81,370

 
27,289

 
54,081

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Total accruing TDRs
 
81,370

 
27,289

 
54,081

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Total TDRs
 
$
147,117

 
$
74,738

 
$
72,379

 
$
46

 
$
4,732


A summary of troubled debt restructurings by accruing status as of December 31, 2015 is as follows (in thousands):
 
 
As of December 31, 2015
 
 
 
 
Recorded
Investment
 
Performing in Accordance With Modified Terms
 
Not
Performing in Accordance With Modified Terms
 
Specific
Allowance
 
Amounts Charged-off During the Year Ended December 31, 2015
Nonaccruing TDRs:
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
Energy
 
$
2,304

 
$
2,304

 
$
—

 
$
—

 
$
928

Services
 
9,027

 
8,210

 
817

 
148

 
—

Wholesale/retail
 
2,758

 
2,706

 
52

 
9

 
—

Manufacturing
 
282

 
282

 
—

 
—

 
—

Healthcare
 
673

 
673

 
—

 
—

 
—

Other commercial and industrial
 
621

 
89

 
532

 
—

 
—

Total commercial
 
15,665

 
14,264

 
1,401

 
157

 
928

 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 

 
 

 
 
Residential construction and land development
 
2,328

 
1,556

 
772

 
—

 
—

Retail
 
1,319

 
942

 
377

 
—

 
—

Office
 
165

 
165

 
—

 
—

 
—

Multifamily
 
—

 
—

 
—

 
—

 
—

Industrial
 
—

 
—

 
—

 
—

 
—

Other commercial real estate
 
920

 
478

 
442

 
—

 
—

Total commercial real estate
 
4,732

 
3,141

 
1,591

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 

 
 

 
 
Permanent mortgage
 
16,618

 
9,043

 
7,575

 
68

 
192

Permanent mortgage guaranteed by U.S. government agencies
 
11,136

 
139

 
10,997

 
—

 
—

Home equity
 
5,159

 
4,218

 
941

 
—

 
80

Total residential mortgage
 
32,913

 
13,400

 
19,513

 
68

 
272

 
 
 
 
 
 
 
 
 
 
 
Personal
 
324

 
297

 
27

 
—

 
11

 
 
 
 
 
 
 
 
 
 
 
Total nonaccuring TDRs
 
53,634

 
31,102

 
22,532

 
225

 
1,211

 
 
 
 
 
 
 
 
 
 
 
Accruing TDRs:
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 
 
 
 
 
 
 
 
 
Permanent mortgages guaranteed by U.S. government agencies
 
74,050

 
23,029

 
51,021

 
—

 
—

Total residential mortgage
 
74,050

 
23,029

 
51,021

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Total accruing TDRs
 
74,050

 
23,029

 
51,021

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
Total TDRs
 
$
127,684

 
$
54,131

 
$
73,553

 
$
225

 
$
1,211


Troubled debt restructurings generally consist of interest rate concessions, payment stream concessions or a combination of concessions to distressed borrowers. The following table details the recorded balance of loans at December 31, 2016 by class that were restructured during the year ended December 31, 2016 by primary type of concession (in thousands):

 
Year Ended December 31, 2016
 
Accruing
 
Nonaccrual
 
Total
 
Payment Stream
 
Combination & Other
 
Total
 
Interest Rate
 
Payment Stream
 
Combination & Other
 
Total
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
16,892

 
$
16,892

 
$
16,892

Services
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Wholesale/retail
—

 
—

 
—

 
—

 
—

 
9,103

 
9,103

 
9,103

Manufacturing
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Healthcare
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other commercial and industrial
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total commercial
—

 
—

 
—

 
—

 
—

 
25,995

 
25,995

 
25,995

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 

 

Residential construction and land development
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Retail
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Office
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Multifamily
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Industrial
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other commercial real estate
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total commercial real estate
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Permanent mortgage
—

 
—

 
—

 
—

 
1,036

 
328

 
1,364

 
1,364

Permanent mortgage guaranteed by U.S. government agencies
11,879

 
10,042

 
21,921

 
—

 
—

 
979

 
979

 
22,900

Home equity
—

 
—

 
—

 
—

 
46

 
2,077

 
2,123

 
2,123

Total residential mortgage
11,879

 
10,042

 
21,921

 
—

 
1,082

 
3,384

 
4,466

 
26,387

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Personal
—

 
—

 
—

 
—

 
—

 
77

 
77

 
77

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
$
11,879

 
$
10,042

 
$
21,921

 
$
—

 
$
1,082

 
$
29,456

 
$
30,538

 
$
52,459


The following table details the recorded balance of loans by class that were restructured during the year ended December 31, 2015 by primary type of concession (in thousands):

 
Year Ended December 31, 2015
 
Accruing
 
Nonaccrual
 
Total
 
Payment Stream
 
Combination & Other
 
Total
 
Interest Rate
 
Payment Stream
 
Combination & Other
 
Total
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Energy
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
2,304

 
$
2,304

 
$
2,304

Services
—

 
—

 
—

 
—

 
—

 
7,577

 
7,577

 
7,577

Wholesale/retail
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Manufacturing
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Healthcare
—

 
—

 
—

 
673

 
—

 
—

 
673

 
673

Other commercial and industrial
—

 
—

 
—

 
—

 
—

 
57

 
57

 
57

Total commercial
—

 
—

 
—

 
673

 
—

 
9,938

 
10,611

 
10,611

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential construction and land development
—

 
—

 
—

 
—

 
329

 
—

 
329

 
329

Retail
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Office
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Multifamily
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Industrial
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Other commercial real estate
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total commercial real estate
—

 
—

 
—

 
—

 
329

 
—

 
329

 
329

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Permanent mortgage
—

 
—

 
—

 
—

 
3,004

 
1,051

 
4,055

 
4,055

Permanent mortgage guaranteed by U.S. government agencies
17,717

 
10,384

 
28,101

 
—

 
1,264

 
1,837

 
3,101

 
31,202

Home equity
—

 
—

 
—

 
57

 
181

 
1,870

 
2,108

 
2,108

Total residential mortgage
17,717

 
10,384

 
28,101

 
57

 
4,449

 
4,758

 
9,264

 
37,365

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Personal
—

 
—

 
—

 
—

 
—

 
115

 
115

 
115

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
$
17,717

 
$
10,384

 
$
28,101

 
$
730

 
$
4,778

 
$
14,811

 
$
20,319

 
$
48,420


The following table summarizes, by loan class, the recorded investment at December 31, 2016 and 2015, respectively of loans modified as TDRs within the previous 12 months and for which there was a payment default during the years ended December 31, 2016 and 2015, respectively (in thousands):

 
Year Ended
 
December 31, 2016
 
December 31, 2015
 
Accruing
 
Nonaccrual
 
Total
 
Accruing
 
Nonaccrual
 
Total
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Energy
$
—

 
$
8,593

 
$
8,593

 
$
—

 
$
—

 
$
—

Services
—

 
—

 
—

 
—

 
—

 
—

Wholesale/retail
—

 
—

 
—

 
—

 
—

 
—

Manufacturing
—

 
—

 
—

 
—

 
—

 
—

Healthcare
—

 
—

 
—

 
—

 
—

 
—

Other commercial and industrial
—

 
—

 
—

 
—

 
38

 
38

Total commercial
—

 
8,593

 
8,593

 
—

 
38

 
38

 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
Residential construction and land development
—

 
—

 
—

 
—

 
329

 
329

Retail
—

 
—

 
—

 
—

 
—

 
—

Office
—

 
—

 
—

 
—

 
—

 
—

Multifamily
—

 
—

 
—

 
—

 
—

 
—

Industrial
—

 
—

 
—

 
—

 
—

 
—

Other commercial real estate
—

 
—

 
—

 
—

 
—

 
—

Total commercial real estate
—

 
—

 
—

 
—

 
329

 
329

 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 
 
 
 
 
 
 
 
 
 
Permanent mortgage
—

 
544

 
544

 
—

 
3,034

 
3,034

Permanent mortgage guaranteed by U.S. government agencies
17,154

 
647

 
17,801

 
27,223

 
3,101

 
30,324

Home equity
—

 
585

 
585

 
—

 
524

 
524

Total residential mortgage
17,154

 
1,776

 
18,930

 
27,223

 
6,659

 
33,882

 
 
 
 
 
 
 
 
 
 
 
 
Personal
—

 
5

 
5

 
—

 
13

 
13

 
 
 
 
 
 
 
 
 
 
 
 
Total
$
17,154

 
$
10,374

 
$
27,528

 
$
27,223

 
$
7,039

 
$
34,262


A payment default is defined as being 30 days or more past due. The table above includes loans that experienced a payment default during the period, but may be performing in accordance with the modified terms as of the balance sheet date.


Nonaccrual & Past Due Loans

Past due status for all loan classes is based on the actual number of days since the last payment was due according to the contractual terms of the loans.

A summary of loans currently performing, loans past due and accruing and nonaccrual loans as of December 31, 2016 is as follows (in thousands):
 
 
 
 
Past Due
 
 
 
 
 
 
Current
 
30 to 59
Days
 
60 to 89
Days
 
90 Days
or More
 
Nonaccrual
 
Total
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
Energy
 
$
2,364,890

 
$
479

 
—

 
$
—

 
$
132,499

 
$
2,497,868

Services
 
3,099,605

 
191

 
1,021

 
—

 
8,173

 
3,108,990

Wholesale/retail
 
1,561,650

 
3,761

 
—

 
—

 
11,407

 
1,576,818

Manufacturing
 
509,662

 
382

 
—

 
—

 
4,931

 
514,975

Healthcare
 
2,201,050

 
—

 
41

 
—

 
825

 
2,201,916

Other commercial and industrial
 
468,981

 
155

 
3

 
—

 
21,118

 
490,257

Total commercial
 
10,205,838

 
4,968

 
1,065

 
—

 
178,953

 
10,390,824

 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 
 
 

 
 

 
 

Residential construction and land development
 
132,100

 
—

 
—

 
—

 
3,433

 
135,533

Retail
 
761,562

 
—

 
—

 
—

 
326

 
761,888

Office
 
798,462

 
—

 
—

 
—

 
426

 
798,888

Multifamily
 
903,234

 
—

 
—

 
—

 
38

 
903,272

Industrial
 
871,673

 
—

 
—

 
—

 
76

 
871,749

Other commercial real estate
 
336,488

 
6

 
—

 
—

 
1,222

 
337,716

Total commercial real estate
 
3,803,519

 
6

 
—

 
—

 
5,521

 
3,809,046

 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 
 
 

 
 

 
 

Permanent mortgage
 
979,386

 
3,299

 
1,280

 
—

 
22,855

 
1,006,820

Permanent mortgages guaranteed by U.S. government agencies
 
40,594

 
17,465

 
13,803

 
115,679

 
11,846

 
199,387

Home equity
 
729,493

 
2,276

 
337

 
—

 
11,519

 
743,625

Total residential mortgage
 
1,749,473

 
23,040

 
15,420

 
115,679

 
46,220

 
1,949,832

 
 
 
 
 
 
 
 
 
 
 
 
 
Personal
 
838,811

 
589

 
263

 
5

 
290

 
839,958

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
16,597,641

 
$
28,603

 
16,748

 
$
115,684

 
$
230,984

 
$
16,989,660


A summary of loans currently performing, loans past due and accruing and nonaccrual loans as of December 31, 2015 is as follows (in thousands):
 
 
 
 
Past Due
 
 
 
 
 
 
Current
 
30 to 59
Days
 
60 to 89
Days
 
90 Days
or More
 
Nonaccrual
 
Total
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
Energy
 
$
3,033,504

 
$
2,635

 
—

 
$
—

 
$
61,189

 
$
3,097,328

Services
 
2,769,895

 
66

 
4,025

 
—

 
10,290

 
2,784,276

Wholesale/retail
 
1,418,396

 
49

 
—

 
700

 
2,919

 
1,422,064

Manufacturing
 
556,398

 
—

 
—

 
—

 
331

 
556,729

Healthcare
 
1,879,873

 
2,435

 
—

 
—

 
1,072

 
1,883,380

Other commercial and industrial
 
507,929

 
84

 
16

 
102

 
623

 
508,754

Total commercial
 
10,165,995

 
5,269

 
4,041

 
802

 
76,424

 
10,252,531

 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 

 
 

 
 
 
 

 
 

 
 

Residential construction and land development
 
156,017

 
—

 
—

 
—

 
4,409

 
160,426

Retail
 
795,180

 
—

 
—

 
—

 
1,319

 
796,499

Office
 
637,056

 
—

 
—

 
—

 
651

 
637,707

Multifamily
 
742,697

 
8,114

 
—

 
—

 
274

 
751,085

Industrial
 
563,093

 
—

 
—

 
—

 
76

 
563,169

Other commercial real estate
 
347,498

 
—

 
—

 
377

 
2,272

 
350,147

Total commercial real estate
 
3,241,541

 
8,114

 
—

 
377

 
9,001

 
3,259,033

 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage:
 
 

 
 

 
 
 
 

 
 

 
 

Permanent mortgage
 
913,062

 
3,290

 
—

 
—

 
28,984

 
945,336

Permanent mortgages guaranteed by U.S. government agencies
 
33,653

 
16,986

 
13,397

 
111,001

 
21,900

 
196,937

Home equity
 
721,149

 
2,379

 
716

 
20

 
10,356

 
734,620

Total residential mortgage
 
1,667,864

 
22,655

 
14,113

 
111,021

 
61,240

 
1,876,893

 
 
 
 
 
 
 
 
 
 
 
 
 
Personal
 
551,533

 
665

 
28

 
8

 
463

 
552,697

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
15,626,933

 
$
36,703

 
18,182

 
$
112,208

 
$
147,128

 
$
15,941,154