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Loans Receivable, Net | 12 Months Ended
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Dec. 31, 2014
Receivables [Abstract] |
Loans Receivable, Net | Loans Receivable, Net The Company’s loan portfolio is comprised of three segments: residential real estate, commercial, and consumer and other loans. The loan segments are further disaggregated into the following classes: residential real estate, commercial real estate, other commercial, home equity and other consumer loans. The following tables are presented for each portfolio class of loans receivable and provide information about the ALLL, loans receivable, impaired loans and TDRs. The following schedules summarize the activity in the ALLL:
| Year ended December 31, 2014
(Dollars in thousands) | Total |  | Residential Real Estate |  | Commercial Real Estate |  | Other Commercial |  | Home Equity |  | Other Consumer
Allowance for loan and lease losses |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 130,351 |  |  | 14,067 |  |  | 70,332 |  |  | 28,630 |  |  | 9,299 |  |  | 8,023 |
Provision for loan losses | 1,912 |  |  | 716 |  |  | (2,877 | ) |  | 3,708 |  |  | 1,254 |  |  | (889 | )
Charge-offs | (7,603 | ) |  | (431 | ) |  | (1,802 | ) |  | (3,058 | ) |  | (1,038 | ) |  | (1,274 | )
Recoveries | 5,093 |  |  | 328 |  |  | 2,146 |  |  | 1,611 |  |  | 448 |  |  | 560 |
Balance at end of period | $ | 129,753 |  |  | 14,680 |  |  | 67,799 |  |  | 30,891 |  |  | 9,963 |  |  | 6,420 |
| Year ended December 31, 2013
(Dollars in thousands) | Total |  | Residential Real Estate |  | Commercial Real Estate |  | Other Commercial |  | Home Equity |  | Other Consumer
Allowance for loan and lease losses |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 130,854 |  |  | 15,482 |  |  | 74,398 |  |  | 21,567 |  |  | 10,659 |  |  | 8,748 |
Provision for loan losses | 6,887 |  |  | (921 | ) |  | (3,670 | ) |  | 10,271 |  |  | 868 |  |  | 339 |
Charge-offs | (13,643 | ) |  | (793 | ) |  | (3,736 | ) |  | (4,671 | ) |  | (2,594 | ) |  | (1,849 | )
Recoveries | 6,253 |  |  | 299 |  |  | 3,340 |  |  | 1,463 |  |  | 366 |  |  | 785 |
Balance at end of period | $ | 130,351 |  |  | 14,067 |  |  | 70,332 |  |  | 28,630 |  |  | 9,299 |  |  | 8,023 |
| Year ended December 31, 2012
(Dollars in thousands) | Total |  | Residential Real Estate |  | Commercial Real Estate |  | Other Commercial |  | Home Equity |  | Other Consumer
Allowance for loan and lease losses |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 137,516 |  |  | 17,227 |  |  | 76,920 |  |  | 20,833 |  |  | 13,616 |  |  | 8,920 |
Provision for loan losses | 21,525 |  |  | 2,879 |  |  | 11,012 |  |  | 4,690 |  |  | 324 |  |  | 2,620 |
Charge-offs | (34,672 | ) |  | (5,267 | ) |  | (16,339 | ) |  | (5,239 | ) |  | (4,369 | ) |  | (3,458 | )
Recoveries | 6,485 |  |  | 643 |  |  | 2,805 |  |  | 1,283 |  |  | 1,088 |  |  | 666 |
Balance at end of period | $ | 130,854 |  |  | 15,482 |  |  | 74,398 |  |  | 21,567 |  |  | 10,659 |  |  | 8,748 |
Note 4. Loans Receivable, Net (continued) The following schedules disclose the ALLL and loans receivable:
| December 31, 2014
(Dollars in thousands) | Total |  | Residential Real Estate |  | Commercial Real Estate |  | Other Commercial |  | Home Equity |  | Other Consumer
Allowance for loan and lease losses |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 11,597 |  |  | 853 |  |  | 2,967 |  |  | 6,836 |  |  | 447 |  |  | 494 |
Collectively evaluated for impairment | 118,156 |  |  | 13,827 |  |  | 64,832 |  |  | 24,055 |  |  | 9,516 |  |  | 5,926 |
Total allowance for loan and lease losses | $ | 129,753 |  |  | 14,680 |  |  | 67,799 |  |  | 30,891 |  |  | 9,963 |  |  | 6,420 |
Loans receivable |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 161,366 |  |  | 19,576 |  |  | 105,264 |  |  | 25,321 |  |  | 6,901 |  |  | 4,304 |
Collectively evaluated for impairment | 4,326,729 |  |  | 591,887 |  |  | 2,232,284 |  |  | 900,579 |  |  | 387,769 |  |  | 214,210 |
Total loans receivable | $ | 4,488,095 |  |  | 611,463 |  |  | 2,337,548 |  |  | 925,900 |  |  | 394,670 |  |  | 218,514 |
| December 31, 2013
(Dollars in thousands) | Total |  | Residential Real Estate |  | Commercial Real Estate |  | Other Commercial |  | Home Equity |  | Other Consumer
Allowance for loan and lease losses |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 11,949 |  |  | 990 |  |  | 3,763 |  |  | 6,155 |  |  | 265 |  |  | 776 |
Collectively evaluated for impairment | 118,402 |  |  | 13,077 |  |  | 66,569 |  |  | 22,475 |  |  | 9,034 |  |  | 7,247 |
Total allowance for loan and lease losses | $ | 130,351 |  |  | 14,067 |  |  | 70,332 |  |  | 28,630 |  |  | 9,299 |  |  | 8,023 |
Loans receivable |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 199,680 |  |  | 24,070 |  |  | 119,526 |  |  | 41,504 |  |  | 9,039 |  |  | 5,541 |
Collectively evaluated for impairment | 3,863,158 |  |  | 553,519 |  |  | 1,929,721 |  |  | 810,532 |  |  | 357,426 |  |  | 211,960 |
Total loans receivable | $ | 4,062,838 |  |  | 577,589 |  |  | 2,049,247 |  |  | 852,036 |  |  | 366,465 |  |  | 217,501 |
Substantially all of the Company’s loans receivable are with customers in the Company’s geographic market areas. Although the Company has a diversified loan portfolio, a substantial portion of its customers’ ability to honor their obligations is dependent upon the economic performance in the Company’s market areas. The Company is subject to regulatory limits for the amount of loans to any individual borrower and the Company is in compliance with this regulation as of December 31, 2014 and 2013. No borrower had outstanding loans or commitments exceeding 10 percent of the Company’s consolidated stockholders’ equity as of December 31, 2014. Net deferred fees, costs, premiums and discounts of $13,710,000 and $10,662,000 were included in the loans receivable balance at December 31, 2014 and 2013, respectively. At December 31, 2014, the Company had $2,915,617,000 in variable rate loans and $1,572,478,000 in fixed rate loans. The weighted-average interest rate on loans was 4.86 percent and 5.04 percent at December 31, 2014 and 2013, respectively. At December 31, 2014, 2013, and 2012, loans sold and serviced for others were $133,768,000, $148,376,000, and $116,439,000, respectively. At December 31, 2014, the Company had loans of $2,596,010,000 pledged as collateral for FHLB advances and FRB discount window. There were no significant purchases or sales of loans designated held-to-maturity during 2014 and 2013. The Company has entered into transactions with its executive officers and directors and their affiliates. The aggregate amount of loans outstanding to such related parties at December 31, 2014 and 2013 was $49,446,000 and $35,224,000, respectively. During 2014, new loans to such related parties were $24,380,000, repayments were $9,864,000 and the effect of changes in composition of related parties was $(294,000). In management’s opinion, such loans were made in the ordinary course of business and were made on substantially the same terms as those prevailing at the time for comparable transaction with other persons. Note 4. Loans Receivable, Net (continued) The following schedules disclose the impaired loans:
| At or for the Year ended December 31, 2014
(Dollars in thousands) | Total |  | Residential Real Estate |  | Commercial Real Estate |  | Other Commercial |  | Home Equity |  | Other Consumer
Loans with a specific valuation allowance |  |  |  |  |  |  |  |  |  |  |
Recorded balance | $ | 45,688 |  |  | 4,110 |  |  | 27,155 |  |  | 11,377 |  |  | 1,214 |  |  | 1,832 |
Unpaid principal balance | 48,477 |  |  | 4,276 |  |  | 28,048 |  |  | 12,461 |  |  | 1,336 |  |  | 2,356 |
Specific valuation allowance | 11,597 |  |  | 853 |  |  | 2,967 |  |  | 6,836 |  |  | 447 |  |  | 494 |
Average balance | 53,339 |  |  | 5,480 |  |  | 24,519 |  |  | 19,874 |  |  | 1,039 |  |  | 2,427 |
Loans without a specific valuation allowance |  |  |  |  |  |  |  |  |  |  |
Recorded balance | $ | 115,678 |  |  | 15,466 |  |  | 78,109 |  |  | 13,944 |  |  | 5,687 |  |  | 2,472 |
Unpaid principal balance | 145,038 |  |  | 16,683 |  |  | 100,266 |  |  | 19,117 |  |  | 6,403 |  |  | 2,569 |
Average balance | 128,645 |  |  | 15,580 |  |  | 89,015 |  |  | 14,024 |  |  | 7,163 |  |  | 2,863 |
Total |  |  |  |  |  |  |  |  |  |  |
Recorded balance | $ | 161,366 |  |  | 19,576 |  |  | 105,264 |  |  | 25,321 |  |  | 6,901 |  |  | 4,304 |
Unpaid principal balance | 193,515 |  |  | 20,959 |  |  | 128,314 |  |  | 31,578 |  |  | 7,739 |  |  | 4,925 |
Specific valuation allowance | 11,597 |  |  | 853 |  |  | 2,967 |  |  | 6,836 |  |  | 447 |  |  | 494 |
Average balance | 181,984 |  |  | 21,060 |  |  | 113,534 |  |  | 33,898 |  |  | 8,202 |  |  | 5,290 |
| At or for the Year ended December 31, 2013
(Dollars in thousands) | Total |  | Residential Real Estate |  | Commercial Real Estate |  | Other Commercial |  | Home Equity |  | Other Consumer
Loans with a specific valuation allowance |  |  |  |  |  |  |  |  |  |  |
Recorded balance | $ | 61,503 |  |  | 7,233 |  |  | 23,917 |  |  | 27,015 |  |  | 886 |  |  | 2,452 |
Unpaid principal balance | 63,406 |  |  | 7,394 |  |  | 25,331 |  |  | 27,238 |  |  | 949 |  |  | 2,494 |
Specific valuation allowance | 11,949 |  |  | 990 |  |  | 3,763 |  |  | 6,155 |  |  | 265 |  |  | 776 |
Average balance | 59,823 |  |  | 7,237 |  |  | 26,105 |  |  | 22,460 |  |  | 767 |  |  | 3,254 |
Loans without a specific valuation allowance |  |  |  |  |  |  |  |  |  |  |
Recorded balance | $ | 138,177 |  |  | 16,837 |  |  | 95,609 |  |  | 14,489 |  |  | 8,153 |  |  | 3,089 |
Unpaid principal balance | 169,082 |  |  | 18,033 |  |  | 119,017 |  |  | 19,156 |  |  | 9,631 |  |  | 3,245 |
Average balance | 139,129 |  |  | 18,103 |  |  | 95,808 |  |  | 14,106 |  |  | 8,844 |  |  | 2,268 |
Total |  |  |  |  |  |  |  |  |  |  |
Recorded balance | $ | 199,680 |  |  | 24,070 |  |  | 119,526 |  |  | 41,504 |  |  | 9,039 |  |  | 5,541 |
Unpaid principal balance | 232,488 |  |  | 25,427 |  |  | 144,348 |  |  | 46,394 |  |  | 10,580 |  |  | 5,739 |
Specific valuation allowance | 11,949 |  |  | 990 |  |  | 3,763 |  |  | 6,155 |  |  | 265 |  |  | 776 |
Average balance | 198,952 |  |  | 25,340 |  |  | 121,913 |  |  | 36,566 |  |  | 9,611 |  |  | 5,522 |
Interest income recognized on impaired loans for the years ended December 31, 2014, 2013, and 2012 was not significant. Note 4. Loans Receivable, Net (continued) The following is a loans receivable aging analysis:
| December 31, 2014
(Dollars in thousands) | Total |  | Residential Real Estate |  | Commercial Real Estate |  | Other Commercial |  | Home Equity |  | Other Consumer
Accruing loans 30-59 days past due | $ | 19,139 |  |  | 3,506 |  |  | 7,925 |  |  | 5,310 |  |  | 1,374 |  |  | 1,024 |
Accruing loans 60-89 days past due | 6,765 |  |  | 1,686 |  |  | 3,592 |  |  | 609 |  |  | 679 |  |  | 199 |
Accruing loans 90 days or more past due | 214 |  |  | 35 |  |  | 31 |  |  | 74 |  |  | 17 |  |  | 57 |
Non-accrual loans | 61,882 |  |  | 6,798 |  |  | 39,717 |  |  | 8,421 |  |  | 5,969 |  |  | 977 |
Total past due and non-accrual loans | 88,000 |  |  | 12,025 |  |  | 51,265 |  |  | 14,414 |  |  | 8,039 |  |  | 2,257 |
Current loans receivable | 4,400,095 |  |  | 599,438 |  |  | 2,286,283 |  |  | 911,486 |  |  | 386,631 |  |  | 216,257 |
Total loans receivable | $ | 4,488,095 |  |  | 611,463 |  |  | 2,337,548 |  |  | 925,900 |  |  | 394,670 |  |  | 218,514 |
| December 31, 2013
(Dollars in thousands) | Total |  | Residential Real Estate |  | Commercial Real Estate |  | Other Commercial |  | Home Equity |  | Other Consumer
Accruing loans 30-59 days past due | $ | 25,761 |  |  | 10,367 |  |  | 7,016 |  |  | 3,673 |  |  | 2,432 |  |  | 2,273 |
Accruing loans 60-89 days past due | 6,355 |  |  | 1,055 |  |  | 2,709 |  |  | 1,421 |  |  | 668 |  |  | 502 |
Accruing loans 90 days or more past due | 604 |  |  | 429 |  |  | — |  |  | 160 |  |  | 5 |  |  | 10 |
Non-accrual loans | 81,956 |  |  | 10,702 |  |  | 51,438 |  |  | 10,139 |  |  | 7,950 |  |  | 1,727 |
Total past due and non-accrual loans | 114,676 |  |  | 22,553 |  |  | 61,163 |  |  | 15,393 |  |  | 11,055 |  |  | 4,512 |
Current loans receivable | 3,948,162 |  |  | 555,036 |  |  | 1,988,084 |  |  | 836,643 |  |  | 355,410 |  |  | 212,989 |
Total loans receivable | $ | 4,062,838 |  |  | 577,589 |  |  | 2,049,247 |  |  | 852,036 |  |  | 366,465 |  |  | 217,501 |
Interest income that would have been recorded on non-accrual loans if such loans had been current for the entire period would have been approximately $3,005,000, $4,122,000, and $5,161,000 for the years ended December 31, 2014, 2013, and 2012, respectively. The following is a summary of the TDRs that occurred during the periods presented and the TDRs that occurred within the previous twelve months that subsequently defaulted during the periods presented:
| Year ended December 31, 2014
(Dollars in thousands) | Total |  | Residential Real Estate |  | Commercial Real Estate |  | Other Commercial |  | Home Equity |  | Other Consumer
Troubled debt restructurings |  |  |  |  |  |  |  |  |  |  |
Number of loans | 51 |  |  | — |  |  | 18 |  |  | 24 |  |  | 6 |  |  | 3 |
Pre-modification recorded balance | $ | 37,781 |  |  | — |  |  | 21,760 |  |  | 12,522 |  |  | 3,385 |  |  | 114 |
Post-modification recorded balance | $ | 37,075 |  |  | — |  |  | 21,803 |  |  | 11,884 |  |  | 3,274 |  |  | 114 |
Troubled debt restructurings that subsequently defaulted |  |  |  |  |  |  |  |  |  |  |
Number of loans | 5 |  |  | — |  |  | 2 |  |  | 1 |  |  | 2 |  |  | — |
Recorded balance | $ | 4,453 |  |  | — |  |  | 927 |  |  | 693 |  |  | 2,833 |  |  | — |
Note 4. Loans Receivable, Net (continued)
| Year ended December 31, 2013
(Dollars in thousands) | Total |  | Residential Real Estate |  | Commercial Real Estate |  | Other Commercial |  | Home Equity |  | Other Consumer
Troubled debt restructurings |  |  |  |  |  |  |  |  |  |  |
Number of loans | 63 |  |  | 9 |  |  | 21 |  |  | 23 |  |  | 2 |  |  | 8 |
Pre-modification recorded balance | $ | 29,046 |  |  | 1,907 |  |  | 20,334 |  |  | 6,087 |  |  | 147 |  |  | 571 |
Post-modification recorded balance | $ | 29,359 |  |  | 2,293 |  |  | 20,334 |  |  | 6,087 |  |  | 147 |  |  | 498 |
Troubled debt restructurings that subsequently defaulted |  |  |  |  |  |  |  |  |  |  |
Number of loans | 5 |  |  | 1 |  |  | 1 |  |  | 3 |  |  | — |  |  | — |
Recorded balance | $ | 849 |  |  | 265 |  |  | 79 |  |  | 505 |  |  | — |  |  | — |
| Year ended December 31, 2012
(Dollars in thousands) | Total |  | Residential Real Estate |  | Commercial Real Estate |  | Other Commercial |  | Home Equity |  | Other Consumer
Troubled debt restructurings |  |  |  |  |  |  |  |  |  |  |
Number of loans | 198 |  |  | 11 |  |  | 85 |  |  | 75 |  |  | 10 |  |  | 17 |
Pre-modification recorded balance | $ | 90,747 |  |  | 2,280 |  |  | 57,382 |  |  | 28,639 |  |  | 1,358 |  |  | 1,088 |
Post-modification recorded balance | $ | 89,558 |  |  | 2,281 |  |  | 56,120 |  |  | 28,711 |  |  | 1,358 |  |  | 1,088 |
Troubled debt restructurings that subsequently defaulted |  |  |  |  |  |  |  |  |  |  |
Number of loans | 14 |  |  | — |  |  | 4 |  |  | 6 |  |  | 3 |  |  | 1 |
Recorded balance | $ | 8,304 |  |  | — |  |  | 6,192 |  |  | 1,753 |  |  | 301 |  |  | 58 |
For the years ended December 31, 2014, 2013 and 2012 the majority of TDRs occurred in the commercial real estate class. The concessions granted typically were for extensions of maturity date and a combination of an interest rate reduction, extension of the maturity date, or reduction in the face amount. In addition to the TDRs that occurred during the period provided in the preceding table, the Company had TDRs with pre-modification loan balances of $12,674,000, $18,345,000 and $39,769,000 for the years ended December 31, 2014, 2013 and 2012, respectively, for which OREO was received in full or partial satisfaction of the loans. The majority of such TDRs for all years was in commercial real estate. At December 31, 2014, the Company had $698,000 of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process. At December 31, 2014, the Company had $2,322,000 of OREO secured by residential real estate properties. There were $4,263,000 and $2,024,000 of additional unfunded commitments on TDRs outstanding at December 31, 2014 and 2013, respectively. The amount of charge-offs on TDRs during 2014, 2013 and 2012 was $1,361,000, $1,945,000 and $6,271,000, respectively.

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- Definition The entire disclosure for financing receivables. Examples of financing receivables include, but are not limited to, loans, trade accounts receivables, notes receivable, credit cards, and receivables relating to a lessor's right(s) to payment(s) from a lease other than an operating lease that is recognized as assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953791-111525 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35738203&loc=d3e4975-111524 + Details
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