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Allowance for Loan and Lease Losses (Tables) | 3 Months Ended
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Mar. 31, 2019
Receivables [Abstract] |
Allowance for Loan and Lease Losses | for the three months ended March 31, 2019 and March 31, 2018 is summarized as follows:
(Dollars in thousands) | Three months ended March 31, 2019 |  | Three months ended March 31, 2018
Allowance for loan losses: |  |  |
Balance at January 1 | $ | 9,144 |  |  | $ | 10,026 |
Provision | (164 | ) |  | 2,354 |
Charge-offs | — |  |  | (84 | )
Recoveries | — |  |  | — |
Balance at March 31 | $ | 8,980 |  |  | $ | 12,296 |
| Three months ended March 31, 2019
(Dollars in thousands) | Construction and land development - commercial |  | Commercial mortgage |  | Other commercial real estate |  | Commercial and industrial and leases |  | Other |  | Residential mortgage |  | Revolving mortgage |  | Construction and land development - non - commercial |  | Consumer |  | Total
Non-PCI Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan and lease losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1 | $ | 35,270 |  |  | $ | 43,451 |  |  | $ | 2,481 |  |  | $ | 55,620 |  |  | $ | 2,221 |  |  | $ | 15,472 |  |  | $ | 21,862 |  |  | $ | 2,350 |  |  | $ | 35,841 |  |  | $ | 214,568 |
Provision (credits) | 2,119 |  |  | 2,371 |  |  | (83 | ) |  | 2,725 |  |  | (498 | ) |  | 1,508 |  |  | 209 |  |  | 123 |  |  | 3,440 |  |  | 11,914 |
Charge-offs | (44 | ) |  | (761 | ) |  | — |  |  | (1,858 | ) |  | — |  |  | (166 | ) |  | (963 | ) |  | — |  |  | (6,362 | ) |  | (10,154 | )
Recoveries | 131 |  |  | 220 |  |  | 1 |  |  | 538 |  |  | 444 |  |  | 173 |  |  | 387 |  |  | — |  |  | 1,573 |  |  | 3,467 |
Balance at March 31 | $ | 37,476 |  |  | $ | 45,281 |  |  | $ | 2,399 |  |  | $ | 57,025 |  |  | $ | 2,167 |  |  | $ | 16,987 |  |  | $ | 21,495 |  |  | $ | 2,473 |  |  | $ | 34,492 |  |  | $ | 219,795 |
| Three months ended March 31, 2018
(Dollars in thousands) | Construction and land development - commercial |  | Commercial mortgage |  | Other commercial real estate |  | Commercial and industrial and leases |  | Other |  | Residential mortgage |  | Revolving mortgage |  | Construction and land development - non - commercial |  | Consumer |  | Total
Balance at January 1 | $ | 24,470 |  |  | $ | 45,005 |  |  | $ | 4,571 |  |  | $ | 59,824 |  |  | $ | 4,689 |  |  | $ | 15,706 |  |  | $ | 22,436 |  |  | $ | 3,962 |  |  | $ | 31,204 |  |  | $ | 211,867 |
Provision (credits) | 2,225 |  |  | (1,365 | ) |  | (1,293 | ) |  | 562 |  |  | 114 |  |  | 1,512 |  |  | 466 |  |  | 107 |  |  | 2,923 |  |  | 5,251 |
Charge-offs | — |  |  | (46 | ) |  | — |  |  | (2,329 | ) |  | (3 | ) |  | (806 | ) |  | (992 | ) |  | (182 | ) |  | (5,255 | ) |  | (9,613 | )
Recoveries | 23 |  |  | 239 |  |  | 145 |  |  | 1,260 |  |  | 42 |  |  | 77 |  |  | 194 |  |  | 26 |  |  | 1,309 |  |  | 3,315 |
Balance at March 31 | $ | 26,718 |  |  | $ | 43,833 |  |  | $ | 3,423 |  |  | $ | 59,317 |  |  | $ | 4,842 |  |  | $ | 16,489 |  |  | $ | 22,104 |  |  | $ | 3,913 |  |  | $ | 30,181 |  |  | $ | 210,820 |
The following tables provide information on non-PCI impaired loans and leases, exclusive of loans and leases evaluated collectively as a homogeneous group, including interest income recognized in the period during which the loans and leases were considered impaired.
| March 31, 2019
(Dollars in thousands) | With a recorded allowance |  | With no recorded allowance |  | Total |  | Unpaid principal balance |  | Related allowance recorded
Non-PCI impaired loans and leases: |  |  |  |  |  |  |  |  |
Construction and land development - commercial | $ | 1,932 |  |  | $ | 191 |  |  | $ | 2,123 |  |  | $ | 2,538 |  |  | $ | 533 |
Commercial mortgage | 37,575 |  |  | 18,582 |  |  | 56,157 |  |  | 61,845 |  |  | 2,949 |
Other commercial real estate | 222 |  |  | 319 |  |  | 541 |  |  | 629 |  |  | 16 |
Commercial and industrial and leases | 7,613 |  |  | 2,374 |  |  | 9,987 |  |  | 14,002 |  |  | 1,420 |
Other | 262 |  |  | 75 |  |  | 337 |  |  | 353 |  |  | 151 |
Residential mortgage | 43,553 |  |  | 1,391 |  |  | 44,944 |  |  | 48,216 |  |  | 3,149 |
Revolving mortgage | 26,017 |  |  | 3,199 |  |  | 29,216 |  |  | 32,074 |  |  | 2,742 |
Construction and land development - noncommercial | 2,330 |  |  | 1,412 |  |  | 3,742 |  |  | 4,045 |  |  | 99 |
Consumer | 2,872 |  |  | 82 |  |  | 2,954 |  |  | 3,378 |  |  | 906 |
Total non-PCI impaired loans and leases | $ | 122,376 |  |  | $ | 27,625 |  |  | $ | 150,001 |  |  | $ | 167,080 |  |  | $ | 11,965 |
| December 31, 2018
(Dollars in thousands) | With a recorded allowance |  | With no recorded allowance |  | Total |  | Unpaid principal balance |  | Related allowance recorded
Non-PCI impaired loans and leases: |  |  |  |  |  |  |  |  |
Construction and land development - commercial | $ | 1,897 |  |  | $ | 278 |  |  | $ | 2,175 |  |  | $ | 2,606 |  |  | $ | 490 |
Commercial mortgage | 34,177 |  |  | 21,270 |  |  | 55,447 |  |  | 61,317 |  |  | 2,671 |
Other commercial real estate | 243 |  |  | 617 |  |  | 860 |  |  | 946 |  |  | 42 |
Commercial and industrial and leases | 7,153 |  |  | 2,715 |  |  | 9,868 |  |  | 14,695 |  |  | 1,137 |
Other | 216 |  |  | 75 |  |  | 291 |  |  | 301 |  |  | 105 |
Residential mortgage | 40,359 |  |  | 1,809 |  |  | 42,168 |  |  | 45,226 |  |  | 1,901 |
Revolving mortgage | 25,751 |  |  | 3,101 |  |  | 28,852 |  |  | 31,371 |  |  | 2,515 |
Construction and land development - noncommercial | 2,337 |  |  | 1,412 |  |  | 3,749 |  |  | 4,035 |  |  | 81 |
Consumer | 2,940 |  |  | 80 |  |  | 3,020 |  |  | 3,405 |  |  | 885 |
Total non-PCI impaired loans and leases | $ | 115,073 |  |  | $ | 31,357 |  |  | $ | 146,430 |  |  | $ | 163,902 |  |  | $ | 9,827 |
Non-PCI impaired loans less than $500,000 that were collectively evaluated for impairment totaled $44.8 million and $47.1 million at March 31, 2019 and December 31, 2018, respectively. The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the three months ended March 31, 2019 and March 31, 2018:
| Three months ended March 31, 2019 |  | Three months ended March 31, 2018
(Dollars in thousands) | Average balance |  | Interest income recognized |  | Average balance |  | Interest income recognized
Non-PCI impaired loans and leases: |  |  |  |  |  |  |
Construction and land development - commercial | $ | 2,147 |  |  | $ | 28 |  |  | $ | 1,155 |  |  | $ | 11 |
Commercial mortgage | 56,629 |  |  | 564 |  |  | 72,267 |  |  | 711 |
Other commercial real estate | 685 |  |  | 8 |  |  | 1,713 |  |  | 11 |
Commercial and industrial and leases | 10,000 |  |  | 100 |  |  | 9,762 |  |  | 87 |
Other | 315 |  |  | 2 |  |  | — |  |  | — |
Residential mortgage | 42,626 |  |  | 325 |  |  | 38,724 |  |  | 275 |
Revolving mortgage | 28,742 |  |  | 247 |  |  | 24,792 |  |  | 201 |
Construction and land development - noncommercial | 3,747 |  |  | 36 |  |  | 4,104 |  |  | 48 |
Consumer | 3,000 |  |  | 29 |  |  | 2,508 |  |  | 28 |
Total non-PCI impaired loans and leases | $ | 147,891 |  |  | $ | 1,339 |  |  | $ | 155,025 |  |  | $ | 1,372 |
Allocation of Allowance for Loan and Lease Losses | The following table presents the PCI allowance and recorded investment in loans at March 31, 2019 and December 31, 2018:
(Dollars in thousands) | March 31, 2019 |  | December 31, 2018
ALLL for loans acquired with deteriorated credit quality | $ | 8,980 |  |  | $ | 9,144 |
Loans acquired with deteriorated credit quality | 557,356 |  |  | 606,576 |
The following tables present the allowance and recorded investment in loans and leases by class of loans, as well as the associated impairment method at March 31, 2019 and December 31, 2018:
| March 31, 2019
(Dollars in thousands) | Construction and land development - commercial |  | Commercial mortgage |  | Other commercial real estate |  | Commercial and industrial and leases |  | Other |  | Residential mortgage |  | Revolving mortgage |  | Construction and land development - non- commercial |  | Consumer |  | Total
Non-PCI Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan and lease losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ALLL for loans and leases individually evaluated for impairment | $ | 533 |  |  | $ | 2,949 |  |  | $ | 16 |  |  | $ | 1,420 |  |  | $ | 151 |  |  | $ | 3,149 |  |  | $ | 2,742 |  |  | $ | 99 |  |  | $ | 906 |  |  | $ | 11,965 |
ALLL for loans and leases collectively evaluated for impairment | 36,943 |  |  | 42,332 |  |  | 2,383 |  |  | 55,605 |  |  | 2,016 |  |  | 13,838 |  |  | 18,753 |  |  | 2,374 |  |  | 33,586 |  |  | 207,830 |
Total allowance for loan and lease losses | $ | 37,476 |  |  | $ | 45,281 |  |  | $ | 2,399 |  |  | $ | 57,025 |  |  | $ | 2,167 |  |  | $ | 16,987 |  |  | $ | 21,495 |  |  | $ | 2,473 |  |  | $ | 34,492 |  |  | $ | 219,795 |
Loans and leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans and leases individually evaluated for impairment | $ | 2,123 |  |  | $ | 56,157 |  |  | $ | 541 |  |  | $ | 9,987 |  |  | $ | 337 |  |  | $ | 44,944 |  |  | $ | 29,216 |  |  | $ | 3,742 |  |  | $ | 2,954 |  |  | $ | 150,001 |
Loans and leases collectively evaluated for impairment | 802,340 |  |  | 10,691,558 |  |  | 426,878 |  |  | 3,869,588 |  |  | 280,511 |  |  | 4,258,193 |  |  | 2,440,682 |  |  | 255,217 |  |  | 1,731,461 |  |  | 24,756,428 |
Total loan and leases | $ | 804,463 |  |  | $ | 10,747,715 |  |  | $ | 427,419 |  |  | $ | 3,879,575 |  |  | $ | 280,848 |  |  | $ | 4,303,137 |  |  | $ | 2,469,898 |  |  | $ | 258,959 |  |  | $ | 1,734,415 |  |  | $ | 24,906,429 |
| December 31, 2018
(Dollars in thousands) | Construction and land development - commercial |  | Commercial mortgage |  | Other commercial real estate |  | Commercial and industrial and leases |  | Other |  | Residential mortgage |  | Revolving mortgage |  | Construction and land development - non- commercial |  | Consumer |  | Total
Non-PCI Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan and lease losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ALLL for loans and leases individually evaluated for impairment | $ | 490 |  |  | $ | 2,671 |  |  | $ | 42 |  |  | $ | 1,137 |  |  | $ | 105 |  |  | $ | 1,901 |  |  | $ | 2,515 |  |  | $ | 81 |  |  | $ | 885 |  |  | $ | 9,827 |
ALLL for loans and leases collectively evaluated for impairment | 34,780 |  |  | 40,780 |  |  | 2,439 |  |  | 54,483 |  |  | 2,116 |  |  | 13,571 |  |  | 19,347 |  |  | 2,269 |  |  | 34,956 |  |  | 204,741 |
Total allowance for loan and lease losses | $ | 35,270 |  |  | $ | 43,451 |  |  | $ | 2,481 |  |  | $ | 55,620 |  |  | $ | 2,221 |  |  | $ | 15,472 |  |  | $ | 21,862 |  |  | $ | 2,350 |  |  | $ | 35,841 |  |  | $ | 214,568 |
Loans and leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans and leases individually evaluated for impairment | $ | 2,175 |  |  | $ | 55,447 |  |  | $ | 860 |  |  | $ | 9,868 |  |  | $ | 291 |  |  | $ | 42,168 |  |  | $ | 28,852 |  |  | $ | 3,749 |  |  | $ | 3,020 |  |  | $ | 146,430 |
Loans and leases collectively evaluated for impairment | 755,679 |  |  | 10,661,787 |  |  | 426,125 |  |  | 3,928,862 |  |  | 296,133 |  |  | 4,223,519 |  |  | 2,514,123 |  |  | 253,281 |  |  | 1,710,761 |  |  | 24,770,270 |
Total loan and leases | $ | 757,854 |  |  | $ | 10,717,234 |  |  | $ | 426,985 |  |  | $ | 3,938,730 |  |  | $ | 296,424 |  |  | $ | 4,265,687 |  |  | $ | 2,542,975 |  |  | $ | 257,030 |  |  | $ | 1,713,781 |  |  | $ | 24,916,700 |
Troubled Debt Restructurings on Financing Receivables | The following table provides the types of TDRs made during the three months ended March 31, 2019 and March 31, 2018, as well as a summary of loans that were modified as a TDR during the twelve month periods ended March 31, 2019 and March 31, 2018 that subsequently defaulted during the three months ended March 31, 2019 and March 31, 2018. BancShares defines payment default as movement of the TDR to nonaccrual status, which is generally 90 days past due for TDRs, foreclosure or charge-off, whichever occurs first.
| Three months ended March 31, 2019 |  | Three months ended March 31, 2018
| All restructurings |  | Restructurings with payment default |  | All restructurings |  | Restructurings with payment default
(Dollars in thousands) | Number of Loans | Recorded investment at period end |  | Number of Loans | Recorded investment at period end |  | Number of Loans | Recorded investment at period end |  | Number of Loans | Recorded investment at period end
Loans and leases |  |  |  |  |  |  |  |  |  |  |
Interest only | — |  | $ | — |  |  | — |  | $ | — |  |  | 1 |  | $ | 644 |  |  | — |  | $ | — |
Loan term extension | 3 |  | 420 |  |  | 3 |  | 541 |  |  | 6 |  | 932 |  |  | 1 |  | 305 |
Below market interest rate | 46 |  | 2,953 |  |  | 33 |  | 2,123 |  |  | 66 |  | 5,660 |  |  | 30 |  | 1,814 |
Discharged from bankruptcy | 42 |  | 1,868 |  |  | 25 |  | 1,144 |  |  | 48 |  | 3,813 |  |  | 43 |  | 3,172 |
Total restructurings | 91 |  | $ | 5,241 |  |  | 61 |  | $ | 3,808 |  |  | 121 |  | $ | 11,049 |  |  | 74 |  | $ | 5,291 |
For the three months ended March 31, 2019 and March 31, 2018, the pre-modification and post-modification outstanding recorded investments of loans modified as TDRs were not materially different.
The following table provides a summary of total TDRs by accrual status. Total TDRs included $17.9 million and $18.2 million of PCI TDRs at March 31, 2019 and December 31, 2018, respectively.
| March 31, 2019 |  | December 31, 2018
(Dollars in thousands) | Accruing |  | Nonaccruing |  | Total |  | Accruing |  | Nonaccruing |  | Total
Commercial loans |  |  |  |  |  |  |  |  |  |  |
Construction and land development - commercial | $ | 1,914 |  |  | $ | 329 |  |  | $ | 2,243 |  |  | $ | 1,946 |  |  | $ | 352 |  |  | $ | 2,298 |
Commercial mortgage | 51,202 |  |  | 6,653 |  |  | 57,855 |  |  | 53,270 |  |  | 7,795 |  |  | 61,065 |
Other commercial real estate | 536 |  |  | 5 |  |  | 541 |  |  | 851 |  |  | 9 |  |  | 860 |
Commercial and industrial and leases | 8,253 |  |  | 1,792 |  |  | 10,045 |  |  | 7,986 |  |  | 2,060 |  |  | 10,046 |
Other | 119 |  |  | 218 |  |  | 337 |  |  | 118 |  |  | 173 |  |  | 291 |
Total commercial loans | 62,024 |  |  | 8,997 |  |  | 71,021 |  |  | 64,171 |  |  | 10,389 |  |  | 74,560 |
Noncommercial |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | 37,111 |  |  | 10,582 |  |  | 47,693 |  |  | 37,903 |  |  | 9,621 |  |  | 47,524 |
Revolving mortgage | 20,320 |  |  | 9,200 |  |  | 29,520 |  |  | 20,492 |  |  | 8,196 |  |  | 28,688 |
Construction and land development - noncommercial | 2,150 |  |  | 180 |  |  | 2,330 |  |  | 2,227 |  |  | 110 |  |  | 2,337 |
Consumer and other | 2,106 |  |  | 847 |  |  | 2,953 |  |  | 2,300 |  |  | 721 |  |  | 3,021 |
Total noncommercial loans | 61,687 |  |  | 20,809 |  |  | 82,496 |  |  | 62,922 |  |  | 18,648 |  |  | 81,570 |
Total loans | $ | 123,711 |  |  | $ | 29,806 |  |  | $ | 153,517 |  |  | $ | 127,093 |  |  | $ | 29,037 |  |  | $ | 156,130 |

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