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v3.21.1

Loans and Allowance for Credit Losses (Tables) | 3 Months Ended
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Mar. 31, 2021
Receivables [Abstract] |
Schedule of Composition of Loans and Impact of Adoption | The composition of loans by portfolio segment as of March 31, 2021 follows:
| March 31, 2021 |  | Segment |  | March 31, 2021
| Statement |  | Portfolio |  | After
(dollars in thousands) | Balance |  | Reclassifications |  | Reclassifications
Loans: |  |  |  |  |
Commercial | $ | 4,068,896 |  |  | $ | (187,967) |  |  | $ | 3,880,929 |
Commercial real estate | 6,074,135 |  |  | (168,283) |  |  | 5,905,852 |
BBCC | N/A |  | 356,250 |  |  | 356,250 |
Residential real estate | 2,203,277 |  |  | — |  |  | 2,203,277 |
Consumer | 1,578,953 |  |  | (1,578,953) |  |  | N/A
Indirect | N/A |  | 887,333 |  |  | 887,333 |
Direct | N/A |  | 150,471 |  |  | 150,471 |
Home equity | N/A |  | 541,149 |  |  | 541,149 |
Total | $ | 13,925,261 |  |  | $ | — |  |  | $ | 13,925,261 |
Schedule of Composition of Loans | The composition of loans by portfolio segment follows:
(dollars in thousands) | March 31, 2021 |  | December 31, 2020
Commercial (1) (2) | $ | 3,880,929 |  |  | $ | 3,757,700 |
Commercial real estate | 5,905,852 |  |  | 5,774,811 |
BBCC | 356,250 |  |  | 370,423 |
Residential real estate | 2,203,277 |  |  | 2,248,422 |
Indirect | 887,333 |  |  | 913,902 |
Direct | 150,471 |  |  | 164,807 |
Home equity | 541,149 |  |  | 556,414 |
Total loans | 13,925,261 |  |  | 13,786,479 |
Allowance for credit losses | (114,037) |  |  | (131,388) |
Net loans | $ | 13,811,224 |  |  | $ | 13,655,091 |
(1)Includes direct finance leases of $29.9 million at March 31, 2021 and $32.3 million at December 31, 2020. (2)Includes PPP loans of $1.124 billion at March 31, 2021 and $943.0 million at December 31, 2020.
Schedule of Activity in Allowance for Loan Losses | Old National’s activity in the allowance for credit losses for loans by portfolio segment was as follows:
(dollars in thousands) | Balance at Beginning of Period |  | Impact of Adopting ASC 326 |  | Sub-Total |  | Charge-offs |  | Recoveries |  | Provision for Credit Losses |  | Balance at End of Period
Three Months Ended March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 30,567 |  |  | $ | — |  |  | $ | 30,567 |  |  | $ | (407) |  |  | $ | 238 |  |  | $ | (5,268) |  |  | $ | 25,130 |
Commercial real estate | 75,810 |  |  | — |  |  | 75,810 |  |  | (1) |  |  | 73 |  |  | (5,321) |  |  | 70,561 |
BBCC | 6,120 |  |  | — |  |  | 6,120 |  |  | (36) |  |  | 41 |  |  | (3,588) |  |  | 2,537 |
Residential real estate | 12,608 |  |  | — |  |  | 12,608 |  |  | (158) |  |  | 87 |  |  | (2,272) |  |  | 10,265 |
Indirect | 3,580 |  |  | — |  |  | 3,580 |  |  | (584) |  |  | 537 |  |  | (1,278) |  |  | 2,255 |
Direct | 855 |  |  | — |  |  | 855 |  |  | (302) |  |  | 260 |  |  | (148) |  |  | 665 |
Home equity | 1,848 |  |  | — |  |  | 1,848 |  |  | (82) |  |  | 339 |  |  | 519 |  |  | 2,624 |
Total | $ | 131,388 |  |  | $ | — |  |  | $ | 131,388 |  |  | $ | (1,570) |  |  | $ | 1,575 |  |  | $ | (17,356) |  |  | $ | 114,037 |
Three Months Ended March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 21,359 |  |  | $ | 7,150 |  |  | $ | 28,509 |  |  | $ | (5,042) |  |  | $ | 357 |  |  | $ | 7,301 |  |  | $ | 31,125 |
Commercial real estate | 20,535 |  |  | 25,548 |  |  | 46,083 |  |  | (1,292) |  |  | 669 |  |  | 8,643 |  |  | 54,103 |
BBCC | 2,279 |  |  | 3,702 |  |  | 5,981 |  |  | (15) |  |  | 66 |  |  | (615) |  |  | 5,417 |
Residential real estate | 2,299 |  |  | 6,986 |  |  | 9,285 |  |  | (300) |  |  | 169 |  |  | 483 |  |  | 9,637 |
Indirect | 5,319 |  |  | (1,669) |  |  | 3,650 |  |  | (1,203) |  |  | 414 |  |  | 805 |  |  | 3,666 |
Direct | 1,863 |  |  | (1,059) |  |  | 804 |  |  | (475) |  |  | 152 |  |  | 341 |  |  | 822 |
Home equity | 965 |  |  | 689 |  |  | 1,654 |  |  | (118) |  |  | 82 |  |  | (8) |  |  | 1,610 |
Total | $ | 54,619 |  |  | $ | 41,347 |  |  | $ | 95,966 |  |  | $ | (8,445) |  |  | $ | 1,909 |  |  | $ | 16,950 |  |  | $ | 106,380 |
Old National’s activity in the allowance for credit losses on unfunded loan commitments was as follows:
| Three Months Ended March 31,
(dollars in thousands) | 2021 |  | 2020
Allowance for credit losses on unfunded loan commitments: |  |  |
Balance at beginning of period | $ | 11,689 |  |  | $ | 2,656 |
Impact of adopting ASC 326 | — |  |  | 4,549 |
Sub-Total | 11,689 |  |  | 7,205 |
Expense (reversal of expense) for credit losses | (1,324) |  |  | 1,745 |
Balance at end of period | $ | 10,365 |  |  | $ | 8,950 |
Schedule of Risk Category of Loans and Amortized Cost | The following table summarizes the risk category of commercial, commercial real estate, and BBCC loans by loan portfolio segment and class of loan:
| Risk Rating
(dollars in thousands) | Pass |  | Criticized |  | Classified - Substandard |  | Classified - Nonaccrual |  | Classified - Doubtful |  | Total
March 31, 2021 |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |
Term Loans at Amortized Cost by Origination Year: |  |  |  |  |  |  |  |  |  |  |
Prior to 2017 | $ | 352,978 |  |  | $ | 5,187 |  |  | $ | 10,711 |  |  | $ | 1,243 |  |  | $ | 2,566 |  |  | $ | 372,685 |
2017 | 216,956 |  |  | 6,726 |  |  | 9,892 |  |  | 6,674 |  |  | 2,540 |  |  | 242,788 |
2018 | 125,661 |  |  | 27,901 |  |  | 11,267 |  |  | 3,600 |  |  | 1,705 |  |  | 170,134 |
2019 | 374,639 |  |  | 8,053 |  |  | 8,124 |  |  | 1,695 |  |  | 692 |  |  | 393,203 |
2020 | 1,201,910 |  |  | 21,742 |  |  | 4,594 |  |  | 3,519 |  |  | — |  |  | 1,231,765 |
2021 | 762,646 |  |  | 4,788 |  |  | 502 |  |  | 1,236 |  |  | — |  |  | 769,172 |
Revolving Loans | 502,589 |  |  | 4,924 |  |  | 3,926 |  |  | 878 |  |  | — |  |  | 512,317 |
Revolving to Term Loans | 175,782 |  |  | 3,226 |  |  | 2,691 |  |  | 7,166 |  |  | — |  |  | 188,865 |
Total | $ | 3,713,161 |  |  | $ | 82,547 |  |  | $ | 51,707 |  |  | $ | 26,011 |  |  | $ | 7,503 |  |  | $ | 3,880,929 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |
Term Loans at Amortized Cost by Origination Year: |  |  |  |  |  |  |  |  |  |  |
Prior to 2017 | $ | 882,164 |  |  | $ | 38,716 |  |  | $ | 18,346 |  |  | $ | 13,514 |  |  | $ | 21,910 |  |  | $ | 974,650 |
2017 | 657,154 |  |  | 42,544 |  |  | 23,368 |  |  | 7,980 |  |  | 20,770 |  |  | 751,816 |
2018 | 737,708 |  |  | 14,260 |  |  | 12,244 |  |  | 3,857 |  |  | 835 |  |  | 768,904 |
2019 | 1,012,914 |  |  | 31,909 |  |  | 7,743 |  |  | 2,049 |  |  | 1,788 |  |  | 1,056,403 |
2020 | 1,572,509 |  |  | 4,845 |  |  | 13,432 |  |  | 2,448 |  |  | — |  |  | 1,593,234 |
2021 | 332,598 |  |  | 2,277 |  |  | 370 |  |  | — |  |  | — |  |  | 335,245 |
Revolving Loans | 15,838 |  |  | — |  |  | 13,157 |  |  | — |  |  | — |  |  | 28,995 |
Revolving to Term Loans | 371,889 |  |  | 23,851 |  |  | 585 |  |  | 280 |  |  | — |  |  | 396,605 |
Total | $ | 5,582,774 |  |  | $ | 158,402 |  |  | $ | 89,245 |  |  | $ | 30,128 |  |  | $ | 45,303 |  |  | $ | 5,905,852 |
BBCC: |  |  |  |  |  |  |  |  |  |  |
Term Loans at Amortized Cost by Origination Year: |  |  |  |  |  |  |  |  |  |  |
Prior to 2017 | $ | 24,250 |  |  | $ | 271 |  |  | $ | — |  |  | $ | — |  |  | $ | 191 |  |  | $ | 24,712 |
2017 | 34,384 |  |  | 205 |  |  | 239 |  |  | 245 |  |  | 44 |  |  | 35,117 |
2018 | 45,832 |  |  | 469 |  |  | 506 |  |  | 489 |  |  | 491 |  |  | 47,787 |
2019 | 67,742 |  |  | 1,334 |  |  | 1,442 |  |  | 490 |  |  | 25 |  |  | 71,033 |
2020 | 89,186 |  |  | 1,404 |  |  | 230 |  |  | 37 |  |  | — |  |  | 90,857 |
2021 | 20,540 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 20,540 |
Revolving Loans | 42,521 |  |  | 530 |  |  | 320 |  |  | — |  |  | — |  |  | 43,371 |
Revolving to Term Loans | 19,818 |  |  | 1,203 |  |  | 673 |  |  | 1,139 |  |  | — |  |  | 22,833 |
Total | $ | 344,273 |  |  | $ | 5,416 |  |  | $ | 3,410 |  |  | $ | 2,400 |  |  | $ | 751 |  |  | $ | 356,250 |
| Risk Rating
(dollars in thousands) | Pass |  | Criticized |  | Classified - substandard |  | Classified - nonaccrual |  | Classified - doubtful |  | Total
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |
Term Loans at Amortized Cost by Origination Year: |  |  |  |  |  |  |  |  |  |  |
Prior to 2016 | $ | 262,538 |  |  | $ | 5,369 |  |  | $ | 8,441 |  |  | $ | 4,379 |  |  | $ | 610 |  |  | $ | 281,337 |
2016 | 124,041 |  |  | 3,383 |  |  | 2,774 |  |  | 49 |  |  | 296 |  |  | 130,543 |
2017 | 227,710 |  |  | 9,508 |  |  | 9,836 |  |  | 6,951 |  |  | 2,748 |  |  | 256,753 |
2018 | 171,228 |  |  | 15,003 |  |  | 10,077 |  |  | 4,701 |  |  | 1,016 |  |  | 202,025 |
2019 | 420,736 |  |  | 9,603 |  |  | 6,369 |  |  | 3,754 |  |  | — |  |  | 440,462 |
2020 | 1,675,964 |  |  | 23,982 |  |  | 6,501 |  |  | 2,600 |  |  | — |  |  | 1,709,047 |
Revolving Loans | 549,849 |  |  | 10,307 |  |  | 15,344 |  |  | 778 |  |  | — |  |  | 576,278 |
Revolving to Term Loans | 148,508 |  |  | 2,685 |  |  | 3,049 |  |  | 7,013 |  |  | — |  |  | 161,255 |
Total | $ | 3,580,574 |  |  | $ | 79,840 |  |  | $ | 62,391 |  |  | $ | 30,225 |  |  | $ | 4,670 |  |  | $ | 3,757,700 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |
Term Loans at Amortized Cost by Origination Year: |  |  |  |  |  |  |  |  |  |  |
Prior to 2016 | $ | 513,658 |  |  | $ | 33,490 |  |  | $ | 8,665 |  |  | $ | 12,564 |  |  | $ | 3,274 |  |  | $ | 571,651 |
2016 | 496,086 |  |  | 17,648 |  |  | 5,308 |  |  | 1,635 |  |  | 19,283 |  |  | 539,960 |
2017 | 677,119 |  |  | 46,994 |  |  | 26,691 |  |  | 9,456 |  |  | 18,926 |  |  | 779,186 |
2018 | 749,102 |  |  | 26,464 |  |  | 13,565 |  |  | 5,393 |  |  | — |  |  | 794,524 |
2019 | 1,041,305 |  |  | 49,271 |  |  | 4,700 |  |  | 2,054 |  |  | 1,832 |  |  | 1,099,162 |
2020 | 1,537,226 |  |  | 6,874 |  |  | 11,451 |  |  | 1,408 |  |  | — |  |  | 1,556,959 |
Revolving Loans | 28,122 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 28,122 |
Revolving to Term Loans | 382,219 |  |  | 19,804 |  |  | 2,911 |  |  | 313 |  |  | — |  |  | 405,247 |
Total | $ | 5,424,837 |  |  | $ | 200,545 |  |  | $ | 73,291 |  |  | $ | 32,823 |  |  | $ | 43,315 |  |  | $ | 5,774,811 |
BBCC: |  |  |  |  |  |  |  |  |  |  |
Term Loans at Amortized Cost by Origination Year: |  |  |  |  |  |  |  |  |  |  |
Prior to 2016 | $ | 5,327 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 30 |  |  | $ | 5,357 |
2016 | 24,946 |  |  | 643 |  |  | 33 |  |  | — |  |  | — |  |  | 25,622 |
2017 | 36,288 |  |  | 414 |  |  | 246 |  |  | 200 |  |  | 70 |  |  | 37,218 |
2018 | 49,875 |  |  | 621 |  |  | 195 |  |  | 134 |  |  | 847 |  |  | 51,672 |
2019 | 73,913 |  |  | 1,403 |  |  | 1,417 |  |  | 551 |  |  | 3 |  |  | 77,287 |
2020 | 94,828 |  |  | 1,599 |  |  | 233 |  |  | 161 |  |  | — |  |  | 96,821 |
Revolving Loans | 52,393 |  |  | 868 |  |  | 317 |  |  | 89 |  |  | — |  |  | 53,667 |
Revolving to Term Loans | 19,353 |  |  | 1,259 |  |  | 701 |  |  | 1,466 |  |  | — |  |  | 22,779 |
Total | $ | 356,923 |  |  | $ | 6,807 |  |  | $ | 3,142 |  |  | $ | 2,601 |  |  | $ | 950 |  |  | $ | 370,423 |
| Payment Performance |  |
(dollars in thousands) | Performing |  | Nonperforming |  | Total
March 31, 2021 |  |  |  |  |
Residential real estate: |  |  |  |  |
Term Loans at Amortized Cost by Origination Year: |  |  |  |  |
Prior to 2017 | $ | 709,771 |  |  | $ | 19,036 |  |  | $ | 728,807 |
2017 | 155,099 |  |  | 980 |  |  | 156,079 |
2018 | 108,229 |  |  | 597 |  |  | 108,826 |
2019 | 380,852 |  |  | 222 |  |  | 381,074 |
2020 | 669,921 |  |  | 100 |  |  | 670,021 |
2021 | 158,352 |  |  | — |  |  | 158,352 |
Revolving Loans | — |  |  | — |  |  | — |
Revolving to Term Loans | 118 |  |  | — |  |  | 118 |
Total | $ | 2,182,342 |  |  | $ | 20,935 |  |  | $ | 2,203,277 |
Indirect: |  |  |  |  |
Term Loans at Amortized Cost by Origination Year: |  |  |  |  |
Prior to 2017 | $ | 54,370 |  |  | $ | 533 |  |  | $ | 54,903 |
2017 | 79,764 |  |  | 639 |  |  | 80,403 |
2018 | 115,341 |  |  | 795 |  |  | 116,136 |
2019 | 224,114 |  |  | 470 |  |  | 224,584 |
2020 | 329,182 |  |  | 349 |  |  | 329,531 |
2021 | 81,709 |  |  | — |  |  | 81,709 |
Revolving Loans | — |  |  | — |  |  | — |
Revolving to Term Loans | 67 |  |  | — |  |  | 67 |
Total | $ | 884,547 |  |  | $ | 2,786 |  |  | $ | 887,333 |
Direct: |  |  |  |  |
Term Loans at Amortized Cost by Origination Year: |  |  |  |  |
Prior to 2017 | $ | 23,706 |  |  | $ | 763 |  |  | $ | 24,469 |
2017 | 13,194 |  |  | 152 |  |  | 13,346 |
2018 | 25,754 |  |  | 163 |  |  | 25,917 |
2019 | 25,427 |  |  | 113 |  |  | 25,540 |
2020 | 27,595 |  |  | 66 |  |  | 27,661 |
2021 | 7,511 |  |  | — |  |  | 7,511 |
Revolving Loans | 25,014 |  |  | 5 |  |  | 25,019 |
Revolving to Term Loans | 1,006 |  |  | 2 |  |  | 1,008 |
Total | $ | 149,207 |  |  | $ | 1,264 |  |  | $ | 150,471 |
Home equity: |  |  |  |  |
Term Loans at Amortized Cost by Origination Year: |  |  |  |  |
Prior to 2017 | $ | — |  |  | $ | — |  |  | $ | — |
2017 | 642 |  |  | — |  |  | 642 |
2018 | 418 |  |  | 127 |  |  | 545 |
2019 | 980 |  |  | 98 |  |  | 1,078 |
2020 | — |  |  | — |  |  | — |
2021 | — |  |  | — |  |  | — |
Revolving Loans | 515,235 |  |  | 101 |  |  | 515,336 |
Revolving to Term Loans | 18,817 |  |  | 4,731 |  |  | 23,548 |
Total | $ | 536,092 |  |  | $ | 5,057 |  |  | $ | 541,149 |
Schedule of Past Due Financing Receivables | The following table presents the aging of the amortized cost basis in past due loans by class of loans:
(dollars in thousands) | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Past Due 90 Days or More |  | Total Past Due |  | Current |  | Total Loans
March 31, 2021 |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 3,141 |  |  | $ | — |  |  | $ | 3,504 |  |  | $ | 6,645 |  |  | $ | 3,874,284 |  |  | $ | 3,880,929 |
Commercial real estate | 2,586 |  |  | 159 |  |  | 32,955 |  |  | 35,700 |  |  | 5,870,152 |  |  | 5,905,852 |
BBCC | 103 |  |  | 84 |  |  | 86 |  |  | 273 |  |  | 355,977 |  |  | 356,250 |
Residential | 9,067 |  |  | 217 |  |  | 6,724 |  |  | 16,008 |  |  | 2,187,269 |  |  | 2,203,277 |
Indirect | 2,124 |  |  | 475 |  |  | 469 |  |  | 3,068 |  |  | 884,265 |  |  | 887,333 |
Direct | 639 |  |  | 134 |  |  | 314 |  |  | 1,087 |  |  | 149,384 |  |  | 150,471 |
Home equity | 352 |  |  | 347 |  |  | 1,912 |  |  | 2,611 |  |  | 538,538 |  |  | 541,149 |
Total | $ | 18,012 |  |  | $ | 1,416 |  |  | $ | 45,964 |  |  | $ | 65,392 |  |  | $ | 13,859,869 |  |  | $ | 13,925,261 |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 2,977 |  |  | $ | 664 |  |  | $ | 2,100 |  |  | $ | 5,741 |  |  | $ | 3,751,959 |  |  | $ | 3,757,700 |
Commercial real estate | 887 |  |  | 128 |  |  | 27,272 |  |  | 28,287 |  |  | 5,746,524 |  |  | 5,774,811 |
BBCC | 894 |  |  | 882 |  |  | 61 |  |  | 1,837 |  |  | 368,586 |  |  | 370,423 |
Residential | 11,639 |  |  | 3,296 |  |  | 7,666 |  |  | 22,601 |  |  | 2,225,821 |  |  | 2,248,422 |
Indirect | 5,222 |  |  | 960 |  |  | 492 |  |  | 6,674 |  |  | 907,228 |  |  | 913,902 |
Direct | 753 |  |  | 533 |  |  | 426 |  |  | 1,712 |  |  | 163,095 |  |  | 164,807 |
Home equity | 1,075 |  |  | 377 |  |  | 1,663 |  |  | 3,115 |  |  | 553,299 |  |  | 556,414 |
Total | $ | 23,447 |  |  | $ | 6,840 |  |  | $ | 39,680 |  |  | $ | 69,967 |  |  | $ | 13,716,512 |  |  | $ | 13,786,479 |
Schedule of Nonaccrual and Past Due Loans | The following table presents the amortized cost basis of loans on nonaccrual status and loans past due 90 days or more and still accruing by class of loan:
| March 31, 2021 |  | December 31, 2020 |  |
(dollars in thousands) | Nonaccrual Amortized Cost |  | Nonaccrual With No Related Allowance |  | Past Due 90 Days or More and Accruing |  | Nonaccrual Amortized Cost |  | Nonaccrual With No Related Allowance |  | Past Due 90 Days or More and Accruing |  |
Commercial | $ | 33,514 |  |  | $ | 1,890 |  |  | $ | 49 |  |  | $ | 34,895 |  |  | $ | 3,394 |  |  | $ | 122 |  |  |
Commercial real estate | 75,431 |  |  | 42,221 |  |  | — |  |  | 76,138 |  |  | 22,152 |  |  | 20 |  |  |
BBCC | 3,151 |  |  | — |  |  | — |  |  | 3,551 |  |  | — |  |  | — |  |  |
Residential | 20,935 |  |  | — |  |  | — |  |  | 24,794 |  |  | — |  |  | — |  |  |
Indirect | 2,786 |  |  | — |  |  | — |  |  | 2,529 |  |  | — |  |  | 12 |  |  |
Direct | 1,264 |  |  | — |  |  | — |  |  | 1,178 |  |  | 27 |  |  | 13 |  |  |
Home equity | 5,057 |  |  | 4 |  |  | — |  |  | 4,254 |  |  | 45 |  |  | — |  |  |
Total | $ | 142,138 |  |  | $ | 44,115 |  |  | $ | 49 |  |  | $ | 147,339 |  |  | $ | 25,618 |  |  | $ | 167 |  |  |
The following table presents the amortized cost basis of collateral dependent loans by class of loan:
| Type of Collateral
(dollars in thousands) | Real Estate |  | Blanket Lien |  | Investment Securities/Cash |  | Auto |  | Other
March 31, 2021 |  |  |  |  |  |  |  |  |
Commercial | $ | 7,470 |  |  | $ | 20,081 |  |  | $ | 5,352 |  |  | $ | 165 |  |  | $ | 446 |
Commercial real estate | 60,773 |  |  | 381 |  |  | 1,088 |  |  | — |  |  | 13,189 |
BBCC | 1,267 |  |  | 1,706 |  |  | 56 |  |  | 122 |  |  | — |
Residential | 20,935 |  |  | — |  |  | — |  |  | — |  |  | — |
Indirect | — |  |  | — |  |  | — |  |  | 2,786 |  |  | — |
Direct | 980 |  |  | — |  |  | 2 |  |  | 227 |  |  | 23 |
Home equity | 5,057 |  |  | — |  |  | — |  |  | — |  |  | — |
Total loans | $ | 96,482 |  |  | $ | 22,168 |  |  | $ | 6,498 |  |  | $ | 3,300 |  |  | $ | 13,658 |
December 31, 2020 |  |  |  |  |  |  |  |  |
Commercial | $ | 8,976 |  |  | $ | 19,253 |  |  | $ | 5,379 |  |  | $ | 394 |  |  | $ | 893 |
Commercial real estate | 60,844 |  |  | 472 |  |  | 1,137 |  |  | — |  |  | 13,685 |
BBCC | 1,425 |  |  | 1,929 |  |  | 63 |  |  | 134 |  |  | — |
Residential | 24,794 |  |  | — |  |  | — |  |  | — |  |  | — |
Indirect | — |  |  | — |  |  | — |  |  | 2,529 |  |  | — |
Direct | 901 |  |  | — |  |  | 2 |  |  | 235 |  |  | 29 |
Home equity | 4,254 |  |  | — |  |  | — |  |  | — |  |  | — |
Total loans | $ | 101,194 |  |  | $ | 21,654 |  |  | $ | 6,581 |  |  | $ | 3,292 |  |  | $ | 14,607 |
Schedule of Activity in Trouble Debt Restructurings | The following table presents activity in TDRs:
(dollars in thousands) | Beginning Balance |  | (Charge-offs)/ Recoveries |  | (Payments)/ Disbursements |  | (Removals)/ Additions |  | Ending Balance
Three Months Ended March 31, 2021 |  |  |  |  |  |  |  |  |
Commercial | $ | 11,090 |  |  | $ | — |  |  | $ | (1,448) |  |  | $ | (1,171) |  |  | $ | 8,471 |
Commercial real estate | 17,606 |  |  | 8 |  |  | (229) |  |  | — |  |  | 17,385 |
BBCC | 112 |  |  | 3 |  |  | (10) |  |  | — |  |  | 105 |
Residential | 2,824 |  |  | — |  |  | (221) |  |  | — |  |  | 2,603 |
Indirect | — |  |  | 2 |  |  | (2) |  |  | — |  |  | — |
Direct | 739 |  |  | 1 |  |  | (14) |  |  | — |  |  | 726 |
Home equity | 282 |  |  | 1 |  |  | (7) |  |  | — |  |  | 276 |
Total | $ | 32,653 |  |  | $ | 15 |  |  | $ | (1,931) |  |  | $ | (1,171) |  |  | $ | 29,566 |
Three Months Ended March 31, 2020 |  |  |  |  |  |  |  |  |
Commercial | $ | 12,412 |  |  | $ | (695) |  |  | $ | (789) |  |  | $ | — |  |  | $ | 10,928 |
Commercial real estate | 14,277 |  |  | (1,272) |  |  | (157) |  |  | — |  |  | 12,848 |
BBCC | 578 |  |  | — |  |  | (16) |  |  | — |  |  | 562 |
Residential | 3,107 |  |  | — |  |  | (67) |  |  | — |  |  | 3,040 |
Indirect | — |  |  | 3 |  |  | (3) |  |  | — |  |  | — |
Direct | 983 |  |  | 2 |  |  | (63) |  |  | — |  |  | 922 |
Home equity | 381 |  |  | 1 |  |  | (8) |  |  | — |  |  | 374 |
Total | $ | 31,738 |  |  | $ | (1,961) |  |  | $ | (1,103) |  |  | $ | — |  |  | $ | 28,674 |
Schedule of Volume of Loan Deferrals | category:
|  |  | December 31, 2020 |  | March 31, 2021
(dollars in thousands) |  |  | Deferrals Balance |  | Deferrals Balance (1) |  | Number of Deferrals
Commercial and commercial real estate |  |  | $ | 53,823 |  |  | $ | 32,242 |  |  | 47 |
Residential real estate |  |  | 1,855 |  |  | 1,763 |  |  | 8 |
Consumer |  |  | 8,224 |  |  | 5,280 |  |  | 250 |
Total |  |  | $ | 63,902 |  |  | $ | 39,285 |  |  | 305 |
(1) Includes second deferrals between 90 and 180 days totaling $2.2 million of commercial and commercial real estate loans, $0.7 million of residential real estate loans, and $0.7 million of consumer loans.

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