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Loans and Allowance for Loan Losses (Tables) | 9 Months Ended
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Sep. 30, 2020
Receivables [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans at September 30, 2020 and December 31, 2019 were as follows:
|  | September 30, 2020 |  | December 31, 2019
Commercial real estate: |  |  |  |
Owner occupied |  | $ | 2,748,075 |  |  | $ | 2,669,766 |
Non-owner occupied |  | 5,220,452 |  |  | 5,039,452 |
Consumer real estate – mortgage |  | 3,041,019 |  |  | 3,068,625 |
Construction and land development |  | 2,728,439 |  |  | 2,430,483 |
Commercial and industrial |  | 8,395,963 |  |  | 6,290,296 |
Consumer and other |  | 343,461 |  |  | 289,254 |
Subtotal |  | $ | 22,477,409 |  |  | $ | 19,787,876 |
Allowance for credit losses |  | (288,645) |  |  | (94,777) |
Loans, net |  | $ | 22,188,764 |  |  | $ | 19,693,099 |
Loan Classification Categorized by Risk Rating Category | The table below presents loan balances classified within each risk rating category by primary loan type and based on year of origination as of September 30, 2020 (in thousands):
September 30, 2020 | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans | Total
Commercial real estate- owner occupied |  |  |  |  |  |  |
Pass | $ | 514,127 |  | $ | 473,410 |  | $ | 497,269 |  | $ | 347,792 |  | $ | 368,441 |  | $ | 304,692 |  | $ | 79,208 |  | $ | 2,584,939 |
Special Mention | 3,349 |  | 11,949 |  | 23,805 |  | 12,775 |  | 3,901 |  | 5,698 |  | — |  | 61,477 |
Substandard (1) | 21,725 |  | 6,251 |  | 7,828 |  | 15,991 |  | 8,986 |  | 2,119 |  | 28,134 |  | 91,034 |
Substandard-nonaccrual | 901 |  | 155 |  | 989 |  | 1,463 |  | 1,720 |  | 3,592 |  | 1,805 |  | 10,625 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial real estate - owner occupied | $ | 540,102 |  | $ | 491,765 |  | $ | 529,891 |  | $ | 378,021 |  | $ | 383,048 |  | $ | 316,101 |  | $ | 109,147 |  | $ | 2,748,075 |
Commercial real estate- Non-owner occupied |  |  |  |  |  |  |
Pass | $ | 1,011,392 |  | $ | 1,035,694 |  | $ | 765,605 |  | $ | 560,797 |  | $ | 509,620 |  | $ | 403,696 |  | $ | 54,308 |  | $ | 4,341,112 |
Special Mention | 165,690 |  | 120,702 |  | 121,523 |  | 157,652 |  | 144,731 |  | 128,007 |  | 11,028 |  | 849,333 |
Substandard (1) | 6,696 |  | 1,495 |  | 5,699 |  | 6,120 |  | 1,015 |  | 2,972 |  | — |  | 23,997 |
Substandard-nonaccrual | — |  | 437 |  | 745 |  | 139 |  | 840 |  | 3,849 |  | — |  | 6,010 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial real estate - Non-owner occupied | $ | 1,183,778 |  | $ | 1,158,328 |  | $ | 893,572 |  | $ | 724,708 |  | $ | 656,206 |  | $ | 538,524 |  | $ | 65,336 |  | $ | 5,220,452 |
Consumer real estate – mortgage |  |  |  |  |  |  |  |
Pass | $ | 462,452 |  | $ | 539,068 |  | $ | 372,363 |  | $ | 183,725 |  | $ | 142,646 |  | $ | 341,108 |  | $ | 955,781 |  | $ | 2,997,143 |
Special Mention | 102 |  | 2,695 |  | 2,929 |  | 644 |  | — |  | 1,040 |  | 8,739 |  | 16,149 |
Substandard (1) | — |  | 546 |  | — |  | 895 |  | 9 |  | 2,274 |  | 2,108 |  | 5,832 |
Substandard-nonaccrual | 169 |  | 1,677 |  | 1,003 |  | 1,426 |  | 2,627 |  | 11,027 |  | 3,966 |  | 21,895 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Consumer real estate – mortgage | $ | 462,723 |  | $ | 543,986 |  | $ | 376,295 |  | $ | 186,690 |  | $ | 145,282 |  | $ | 355,449 |  | $ | 970,594 |  | $ | 3,041,019 |
Construction and land development |  |  |  |  |  |  |
Pass | $ | 849,025 |  | $ | 1,209,363 |  | $ | 471,069 |  | $ | 77,146 |  | $ | 20,229 |  | $ | 10,394 |  | $ | 15,858 |  | $ | 2,653,084 |
Special Mention | 6,924 |  | 33,253 |  | 26,062 |  | — |  | 4,244 |  | — |  | — |  | 70,483 |
Substandard (1) | 619 |  | 681 |  | 29 |  | — |  | 240 |  | 150 |  | — |  | 1,719 |
Substandard-nonaccrual | 391 |  | 554 |  | 77 |  | 83 |  | — |  | 2,048 |  | — |  | 3,153 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Construction and land development | $ | 856,959 |  | $ | 1,243,851 |  | $ | 497,237 |  | $ | 77,229 |  | $ | 24,713 |  | $ | 12,592 |  | $ | 15,858 |  | $ | 2,728,439 |
Commercial and industrial |  |  |  |  |  |  |
Pass | $ | 3,566,925 |  | $ | 1,227,003 |  | $ | 779,760 |  | $ | 349,805 |  | $ | 149,094 |  | $ | 98,086 |  | $ | 1,946,224 |  | $ | 8,116,897 |
Special Mention | 20,986 |  | 50,577 |  | 8,568 |  | 8,385 |  | 8,216 |  | 2,081 |  | 58,186 |  | 156,999 |
Substandard (1) | 27,070 |  | 19,268 |  | 17,377 |  | 3,016 |  | 579 |  | 2,074 |  | 23,735 |  | 93,119 |
Substandard-nonaccrual | 14,039 |  | 5,459 |  | 382 |  | 4,676 |  | 197 |  | 258 |  | 3,937 |  | 28,948 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial and industrial | $ | 3,629,020 |  | $ | 1,302,307 |  | $ | 806,087 |  | $ | 365,882 |  | $ | 158,086 |  | $ | 102,499 |  | $ | 2,032,082 |  | $ | 8,395,963 |
Consumer and other |  |  |  |  |  |  |  |
Pass | $ | 113,807 |  | $ | 23,974 |  | $ | 8,182 |  | $ | 8,379 |  | $ | 4,635 |  | $ | 2,142 |  | $ | 181,583 |  | $ | 342,702 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard (1) | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard-nonaccrual | — |  | — |  | 2 |  | 7 |  | 12 |  | 2 |  | 736 |  | 759 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Consumer and other | $ | 113,807 |  | $ | 23,974 |  | $ | 8,184 |  | $ | 8,386 |  | $ | 4,647 |  | $ | 2,144 |  | $ | 182,319 |  | $ | 343,461 |
September 30, 2020 | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans | Total
Total loans |  |  |  |  |  |  |  |
Pass | $ | 6,517,728 |  | $ | 4,508,512 |  | $ | 2,894,248 |  | $ | 1,527,644 |  | $ | 1,194,665 |  | $ | 1,160,118 |  | $ | 3,232,962 |  | $ | 21,035,877 |
Special Mention | 197,051 |  | 219,176 |  | 182,887 |  | 179,456 |  | 161,092 |  | 136,826 |  | 77,953 |  | 1,154,441 |
Substandard (1) | 56,110 |  | 28,241 |  | 30,933 |  | 26,022 |  | 10,829 |  | 9,589 |  | 53,977 |  | 215,701 |
Substandard-nonaccrual | 15,500 |  | 8,282 |  | 3,198 |  | 7,794 |  | 5,396 |  | 20,776 |  | 10,444 |  | 71,390 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total loans | $ | 6,786,389 |  | $ | 4,764,211 |  | $ | 3,111,266 |  | $ | 1,740,916 |  | $ | 1,371,982 |  | $ | 1,327,309 |  | $ | 3,375,336 |  | $ | 22,477,409 |
The following table outlines the risk category of loans as of December 31, 2019 (in thousands):
| Commercial real estate - mortgage | Consumer real estate - mortgage | Construction and land development | Commercial and industrial | Consumer and other | Total
December 31, 2019 |  |  |  |  |  |
Pass | $ | 7,499,725 |  | $ | 3,019,203 |  | $ | 2,422,347 |  | $ | 6,069,757 |  | $ | 288,361 |  | $ | 19,299,393 |
Special Mention | 51,147 |  | 13,787 |  | 2,816 |  | 79,819 |  | 698 |  | 148,267 |
Substandard (1) | 139,518 |  | 10,969 |  | 3,042 |  | 125,035 |  | 47 |  | 278,611 |
Substandard-nonaccrual | 18,828 |  | 24,666 |  | 2,278 |  | 15,685 |  | 148 |  | 61,605 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |
Total loans | $ | 7,709,218 |  | $ | 3,068,625 |  | $ | 2,430,483 |  | $ | 6,290,296 |  | $ | 289,254 |  | $ | 19,787,876 |
(1) Potential problem loans represent those loans with a well-defined weakness and where information about possible credit problems of borrowers has caused management to have doubts about the borrower's ability to comply with present repayment terms. This definition is believed to be substantially consistent with the standards established by Pinnacle Bank's primary regulators for loans classified as substandard, excluding troubled debt restructurings. Potential problem loans, which are not included in nonaccrual loans, amounted to approximately $215.7 million at September 30, 2020, compared to $276.0 million at December 31, 2019.
Past Due Balances by Loan Classification | The table below presents the aging of past due balances by loan segment at September 30, 2020 and December 31, 2019 (in thousands):
September 30, 2020 | 30-59 days past due |  | 60-89 days past due |  | 90 days or more past due |  | Total past due |  | Current |  | Total loans
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |
Owner-occupied | $ | 3,365 |  |  | $ | 415 |  |  | $ | 4,226 |  |  | $ | 8,006 |  |  | $ | 2,740,069 |  |  | $ | 2,748,075 |
Non-owner occupied | 1,612 |  |  | 1,928 |  |  | 5,353 |  |  | 8,893 |  |  | 5,211,559 |  |  | 5,220,452 |
Consumer real estate – mortgage | 7,852 |  |  | 1,338 |  |  | 5,971 |  |  | 15,161 |  |  | 3,025,858 |  |  | 3,041,019 |
Construction and land development | 2,417 |  |  | — |  |  | 2,031 |  |  | 4,448 |  |  | 2,723,991 |  |  | 2,728,439 |
Commercial and industrial | 6,615 |  |  | 4,743 |  |  | 4,986 |  |  | 16,344 |  |  | 8,379,619 |  |  | 8,395,963 |
Consumer and other | 846 |  |  | 82 |  |  | 1,220 |  |  | 2,148 |  |  | 341,313 |  |  | 343,461 |
Total | $ | 22,707 |  |  | $ | 8,506 |  |  | $ | 23,787 |  |  | $ | 55,000 |  |  | $ | 22,422,409 |  |  | $ | 22,477,409 |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |
Owner-occupied | $ | 2,307 |  |  | $ | 2,932 |  |  | $ | 1,719 |  |  | $ | 6,958 |  |  | $ | 2,662,808 |  |  | $ | 2,669,766 |
Non-owner occupied | 3,156 |  |  | 3,641 |  |  | 3,816 |  |  | 10,613 |  |  | 5,028,839 |  |  | 5,039,452 |
Consumer real estate – mortgage | 11,646 |  |  | 2,157 |  |  | 7,304 |  |  | 21,107 |  |  | 3,047,518 |  |  | 3,068,625 |
Construction and land development | 1,392 |  |  | 711 |  |  | 1,487 |  |  | 3,590 |  |  | 2,426,893 |  |  | 2,430,483 |
Commercial and industrial | 8,474 |  |  | 2,478 |  |  | 6,364 |  |  | 17,316 |  |  | 6,272,980 |  |  | 6,290,296 |
Consumer and other | 1,770 |  |  | 414 |  |  | 570 |  |  | 2,754 |  |  | 286,500 |  |  | 289,254 |
Total | $ | 28,745 |  |  | $ | 12,333 |  |  | $ | 21,260 |  | $ | 21,260 |  | $ | 62,338 |  |  | $ | 19,725,538 |  |  | $ | 19,787,876 |
Details of Changes in the Allowance for Loan Losses | The following table details the changes in the allowance for credit losses for the three and nine months ended September 30, 2020 and 2019, respectively, by loan classification (in thousands):
| Commercial real estate - Owner occupied | Commercial real estate - Non-owner occupied | Consumer real estate - mortgage | Construction and land development | Commercial and industrial | Consumer and other | Unallocated | Total
Three months ended September 30, 2020: |  |  |  |  |  |  |  |
Balance at June 30, 2020 | $ | 38,803 |  | $ | 68,426 |  | $ | 29,358 |  | $ | 41,897 |  | $ | 100,610 |  | $ | 6,278 |  | $ | — |  | $ | 285,372 |
Charged-off loans | (186) |  | (222) |  | (907) |  | — |  | (12,984) |  | (730) |  | — |  | (15,029) |
Recovery of previously charged-off loans | 47 |  | 432 |  | 297 |  | 7 |  | 799 |  | 391 |  | — |  | 1,973 |
Provision for credit losses on loans | (2,238) |  | 1,223 |  | 3,201 |  | (682) |  | 13,783 |  | 1,042 |  | — |  | 16,329 |
Balance at September 30, 2020 | $ | 36,426 |  | $ | 69,859 |  | $ | 31,949 |  | $ | 41,222 |  | $ | 102,208 |  | $ | 6,981 |  | $ | — |  | $ | 288,645 |
Three months ended September 30, 2019: |  |  |  |  |  |  |  |
Balance at June 30, 2019 | $ | 12,174 |  | $ | 18,652 |  | $ | 8,489 |  | $ | 11,206 |  | $ | 37,436 |  | $ | 2,114 |  | $ | 182 |  | $ | 90,253 |
Charged-off loans | (40) |  | (62) |  | (194) |  | (14) |  | (5,082) |  | (1,388) |  | — |  | (6,780) |
Recovery of previously charged-off loans | 135 |  | 74 |  | 901 |  | 97 |  | 407 |  | 300 |  | — |  | 1,914 |
Provision for credit losses on loans | (112) |  | 1,796 |  | (1,426) |  | 585 |  | 1,814 |  | 3,278 |  | 2,325 |  | 8,260 |
Balance at September 30, 2019 | $ | 12,157 |  | $ | 20,460 |  | $ | 7,770 |  | $ | 11,874 |  | $ | 34,575 |  | $ | 4,304 |  | $ | 2,507 |  | $ | 93,647 |
Nine months ended September 30, 2020: |  |  |  |  |  |  |  |
Balance at December 31, 2019 | $ | 13,406 |  | $ | 19,963 |  | $ | 8,054 |  | $ | 12,662 |  | $ | 36,112 |  | $ | 3,595 |  | $ | 985 |  | $ | 94,777 |
Impact of adopting ASC 326 | 264 |  | (4,740) |  | 21,029 |  | (3,144) |  | 23,040 |  | 2,638 |  | (985) |  | 38,102 |
Charged-off loans | (1,247) |  | (485) |  | (3,033) |  | — |  | (27,982) |  | (2,977) |  | — |  | (35,724) |
Recovery of previously charged-off loans | 272 |  | 631 |  | 971 |  | 100 |  | 3,798 |  | 1,356 |  | — |  | 7,128 |
Provision for credit losses on loans | 23,731 |  | 54,490 |  | 4,928 |  | 31,604 |  | 67,240 |  | 2,369 |  | — |  | 184,362 |
Balance at September 30, 2020 | $ | 36,426 |  | $ | 69,859 |  | $ | 31,949 |  | $ | 41,222 |  | $ | 102,208 |  | $ | 6,981 |  | $ | — |  | $ | 288,645 |
Nine months ended September 30, 2019: |  |  |  |  |  |  |  |
Balance at December 31, 2018 | $ | 11,297 |  | $ | 15,649 |  | $ | 7,670 |  | $ | 11,128 |  | $ | 31,731 |  | $ | 5,423 |  | $ | 677 |  | $ | 83,575 |
Charged-off loans | (1,626) |  | (75) |  | (1,124) |  | (18) |  | (13,842) |  | (4,643) |  | — |  | (21,328) |
Recovery of previously charged-off loans | 211 |  | 962 |  | 1,642 |  | 238 |  | 4,749 |  | 959 |  | — |  | 8,761 |
Provision for credit losses on loans | 2,275 |  | 3,924 |  | (418) |  | 526 |  | 11,937 |  | 2,565 |  | 1,830 |  | 22,639 |
Balance at September 30, 2019 | $ | 12,157 |  | $ | 20,460 |  | $ | 7,770 |  | $ | 11,874 |  | $ | 34,575 |  | $ | 4,304 |  | $ | 2,507 |  | $ | 93,647 |
The following table details the allowance for credit losses on loans and recorded investment in loans by loan classification and by impairment evaluation method as of December 31, 2019, as determined in accordance with ASC 310 prior to the adoption of ASU 2016-13 (in thousands):
| Commercial real estate - mortgage | Consumer real estate - mortgage | Construction and land development | Commercial and industrial | Consumer and other | Unallocated | Total
December 31, 2019 |  |  |  |  |  |  |
Allowance for Loan Losses: |  |  |  |  |  |  |
Collectively evaluated for impairment | $ | 32,134 |  | $ | 6,762 |  | $ | 12,629 |  | $ | 35,401 |  | $ | 3,586 |  |  | $ | 90,512 |
Individually evaluated for impairment | 1,235 |  | 1,292 |  | 33 |  | 711 |  | 9 |  |  | 3,280 |
Loans acquired with deteriorated credit quality(1) | — |  | — |  | — |  | — |  | — |  |  | — |
Total allowance for loan losses | $ | 33,369 |  | $ | 8,054 |  | $ | 12,662 |  | $ | 36,112 |  | $ | 3,595 |  | $ | 985 |  | $ | 94,777 |
Loans: |  |  |  |  |  |  |
Collectively evaluated for impairment | $ | 7,681,608 |  | $ | 3,036,922 |  | $ | 2,426,901 |  | $ | 6,274,280 |  | $ | 289,106 |  |  | $ | 19,708,817 |
Individually evaluated for impairment | 18,122 |  | 25,018 |  | 561 |  | 14,295 |  | 148 |  |  | 58,144 |
Loans acquired with deteriorated credit quality | 9,488 |  | 6,685 |  | 3,021 |  | 1,721 |  | — |  |  | 20,915 |
Total loans | $ | 7,709,218 |  | $ | 3,068,625 |  | $ | 2,430,483 |  | $ | 6,290,296 |  | $ | 289,254 |  |  | $ | 19,787,876 |
(1) Prior to the adoption of ASC 326 on January 1, 2020, an allowance for loan losses was recorded on loans acquired with deteriorated credit quality only in the event of additional credit deterioration subsequent to acquisition.
Schedule of Collateral Dependent Loans Individually Evaluated for ACL | The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses:
September 30, 2020 | Real Estate | Business Assets | Other | Total
Commercial real estate: |  |  |  |
Owner-occupied | 14,955 |  | — |  | — |  | 14,955 |
Non-owner occupied | 11,294 |  | — |  | — |  | 11,294 |
Consumer real estate – mortgage | 27,122 |  | — |  | — |  | 27,122 |
Construction and land development | 4,362 |  | — |  | — |  | 4,362 |
Commercial and industrial | 2,052 |  | 28,692 |  | 45 |  | 30,789 |
Consumer and other | — |  | — |  | 21 |  | 21 |
Total | $ | 59,785 |  | $ | 28,692 |  | $ | 66 |  | $ | 88,543 |
Financing Receivable, Nonaccrual | The table below presents the amortized cost basis of loans on nonaccrual status and loans past due 90 or more days and still accruing interest at September 30, 2020 and December 31, 2019. Also presented is the balance of loans on nonaccrual status at September 30, 2020 for which there was no related allowance for credit losses recorded (in thousands):
| September 30, 2020 |  | December 31, 2019
| Total nonaccrual loans |  | Nonaccrual loans with no allowance for credit losses |  | Loans past due 90 or more days and still accruing |  | Total nonaccrual loans |  | Loans past due 90 or more days and still accruing
Commercial real estate: |  |  |  |  |  |  |  |  |
Owner-occupied | $ | 10,625 |  |  | $ | 5,704 |  |  | $ | — |  |  | $ | 11,654 |  |  | $ | — |
Non-owner occupied | 6,010 |  |  | — |  |  | — |  |  | 7,173 |  |  | — |
Consumer real estate – mortgage | 21,895 |  |  | — |  |  | 281 |  |  | 24,667 |  |  | 168 |
Construction and land development | 3,152 |  |  | 1,152 |  |  | — |  |  | 2,278 |  |  | — |
Commercial and industrial | 28,948 |  |  | 7,960 |  |  | 563 |  |  | 15,685 |  |  | 946 |
Consumer and other | 760 |  |  | — |  |  | 469 |  |  | 148 |  |  | 501 |
Total | $ | 71,390 |  |  | $ | 14,816 |  |  | $ | 1,313 |  |  | $ | 61,605 |  |  | $ | 1,615 |
Summary of Recorded Investment, Unpaid Principal Balance and Related Allowance and Average Recorded Investment of Impaired Loans | The following table presents impaired loans at December 31, 2019 as determined under ASC 310 prior to the adoption of ASU 2016-13. Impaired loans generally include nonaccrual loans, troubled debt restructurings, and other loans deemed to be impaired but that continue to accrue interest. Presented are the recorded investment, unpaid principal balance and related allowance of impaired loans at December 31, 2019 by loan classification (in thousands):
| At December 31, 2019
| Recorded investment | Unpaid principal balances | Related allowance
Impaired loans with an allowance: |  |  |
Commercial real estate – mortgage | $ | 9,998 |  | $ | 10,983 |  | $ | 1,235 |
Consumer real estate – mortgage | 20,996 |  | 23,105 |  | 1,292 |
Construction and land development | 542 |  | 654 |  | 33 |
Commercial and industrial | 4,074 |  | 5,381 |  | 711 |
Consumer and other | 148 |  | 182 |  | 9 |
Total | $ | 35,758 |  | $ | 40,305 |  | $ | 3,280 |
Impaired loans without an allowance: |  |  |
Commercial real estate – mortgage | $ | 8,124 |  | $ | 8,891 |  | $ | — |
Consumer real estate – mortgage | 4,022 |  | 4,021 |  | — |
Construction and land development | 19 |  | 17 |  | — |
Commercial and industrial | 10,221 |  | 11,322 |  | — |
Consumer and other | — |  | — |  | — |
Total | $ | 22,386 |  | $ | 24,251 |  | $ | — |
Total impaired loans | $ | 58,144 |  | $ | 64,556 |  | $ | 3,280 |
The following table details the average recorded investment and the amount of interest income recognized on a cash basis for the three and nine months ended September 30, 2019, respectively, of impaired loans by loan classification as determined under ASC 310 prior to the adoption of ASU 2016-13 (in thousands):
| Three months ended | Nine months ended |  |
| Average recorded investment | Interest income recognized | Average recorded investment | Interest income recognized |  |  |
Impaired loans with an allowance: |  |  |  |  |  |  |
Commercial real estate – mortgage | $ | 13,050 |  | $ | — |  | $ | 14,689 |  | $ | — |  |  |  |
Consumer real estate – mortgage | 19,508 |  | — |  | 20,887 |  | — |  |  |  |
Construction and land development | 451 |  | — |  | 587 |  | — |  |  |  |
Commercial and industrial | 11,113 |  | — |  | 10,070 |  | — |  |  |  |
Consumer and other | 143 |  | — |  | 400 |  | — |  |  |  |
Total | $ | 44,265 |  | $ | — |  | $ | 46,633 |  | $ | — |  |  |  |
Impaired loans without an allowance: |  |  |  |  |  |  |
Commercial real estate – mortgage | $ | 9,344 |  | $ | — |  | $ | 12,521 |  | $ | 176 |  |  |  |
Consumer real estate – mortgage | 7,922 |  | — |  | 8,381 |  | — |  |  |  |
Construction and land development | 10 |  | — |  | 452 |  | — |  |  |  |
Commercial and industrial | 12,108 |  | — |  | 13,625 |  | — |  |  |  |
Consumer and other | — |  | — |  | — |  | — |  |  |  |
Total | $ | 29,384 |  | $ | — |  | $ | 34,979 |  | $ | 176 |  |  |  |
Total impaired loans | $ | 73,649 |  | $ | — |  | $ | 81,612 |  | $ | 176 |  |  |  |
Purchase Credit Impaired Loans | Prior to the adoption of ASU 2016-13, loans acquired with deteriorated credit quality, referred to under ASC 310-30 as purchased credit impaired loans and under ASU 2016-13 as purchased credit deteriorated loans, were assigned a credit related purchase discount and non-credit related purchase discount at acquisition. Upon adoption of ASU 2016-13 on January 1, 2020, the remaining credit related discount was re-classified to a component of the allowance for credit losses. The remaining non-credit discount will continue to be accreted into income over the remaining lives of the related loans. The following table provides a rollforward of purchased credit deteriorated loans from December 31, 2019 through September 30, 2020 (in thousands):
| Gross Carrying Value | Accretable Yield | Nonaccretable Yield | Net Carrying Value
December 31, 2019 | $ | 29,544 |  | $ | (4,801) |  | $ | (3,828) |  | $ | 20,915 |
Reclassification of discount to allowance for credit losses | — |  | — |  | 3,828 |  | 3,828 |
Year-to-date settlements | (5,600) |  | 2,240 |  | — |  | (3,360) |
September 30, 2020 | $ | 23,944 |  | $ | (2,561) |  | $ | — |  | $ | 21,383 |
Troubled Debt Restructurings | The following table outlines the amount of each loan category where troubled debt restructurings were made during the three and nine months ended September 30, 2020 and 2019 (dollars in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| Number of contracts |  | Pre Modification Outstanding Recorded Investment |  | Post Modification Outstanding Recorded Investment, net of related allowance |  | Number of contracts |  | Pre Modification Outstanding Recorded Investment |  | Post Modification Outstanding Recorded Investment, net of related allowance
2020 |  |  |  |  |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |
Owner-occupied | — |  |  | $ | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | $ | — |
Non-owner occupied | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Consumer real estate – mortgage | — |  |  | — |  |  | — |  |  | 1 |  |  | 807 |  |  | 807 |
Construction and land development | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Consumer and other | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| — |  |  | $ | — |  |  | $ | — |  |  | 1 |  |  | $ | 807 |  |  | $ | 807 |
2019 |  |  |  |  |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |
Owner-occupied | 1 |  |  | $ | 314 |  |  | $ | 297 |  |  | 1 |  |  | $ | 314 |  |  | $ | 297 |
Non-owner occupied | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Consumer real estate – mortgage | — |  |  | — |  |  | — |  |  | 1 |  |  | 712 |  |  | 626 |
Construction and land development | — |  |  | — |  |  | — |  |  | 1 |  |  | 21 |  |  | 19 |
Commercial and industrial | — |  |  | — |  |  | — |  |  | 1 |  |  | 1,397 |  |  | 796 |
Consumer and other | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 1 |  |  | $ | 314 |  |  | $ | 297 |  |  | 4 |  |  | $ | 2,444 |  |  | $ | 1,738 |
Summary of Loan Portfolio Credit Risk Exposure | Pinnacle Financial analyzes its commercial loan portfolio to determine if a concentration of credit risk exists to any industries. Pinnacle Financial utilizes broadly accepted industry classification systems in order to classify borrowers into various industry classifications. Pinnacle Financial has a credit exposure (loans outstanding plus unfunded lines of credit) exceeding 25% of Pinnacle Bank's total risk-based capital to borrowers in the following industries at September 30, 2020 with the comparative exposures for December 31, 2019 (in thousands):
| September 30, 2020 |  |
| Outstanding Principal Balances |  | Unfunded Commitments |  | Total exposure |  | Total Exposure at December 31, 2019
Lessors of nonresidential buildings | $ | 3,655,366 |  |  | $ | 916,186 |  |  | $ | 4,571,552 |  |  | $ | 4,578,116 |
Lessors of residential buildings | 1,158,042 |  |  | 795,259 |  |  | 1,953,301 |  |  | 1,599,837 |
New Housing For-Sale Builders | 479,532 |  |  | 613,518 |  |  | 1,093,050 |  |  | 1,090,603 |
Hotels (except Casino Hotels) and Motels | 910,857 |  |  | 127,623 |  |  | 1,038,480 |  |  | 967,771 |

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