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LOANS HELD FOR SALE (Tables) | 9 Months Ended
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Sep. 30, 2018
Loans and Leases Receivable Disclosure [Line Items] |
Portfolio of Loans Held for Sale | The following provides information about the loan portfolio held for investment:
|  | As of September 30, |  | As of December 31,
|  | 2018 |  | 2017
(In thousands) |
Residential mortgage loans, mainly secured by first mortgages | $ | 3,207,981 |  | $ | 3,290,957
Commercial loans: |  |  |  |  |
Construction loans (1) |  | 82,862 |  |  | 111,397
Commercial mortgage loans (1) |  | 1,506,502 |  |  | 1,614,972
Commercial and Industrial loans (1)(2) |  | 2,068,256 |  |  | 2,083,253
Total commercial loans |  | 3,657,620 |  |  | 3,809,622
Finance leases |  | 311,180 |  |  | 257,462
Consumer loans |  | 1,540,172 |  |  | 1,492,435
Loans held for investment |  | 8,716,953 |  |  | 8,850,476
Allowance for loan and lease losses |  | (200,563) |  |  | (231,843)
Loans held for investment, net | $ | 8,516,390 |  | $ | 8,618,633
(1) | During the first nine months of 2018, the Corporation transferred $74.4 million (net of fair value write-downs of $22.2 million recorded at the time of transfers) in non-performing loans to held for sale. Loans transferred to held for sale consisted of non-performing commercial mortgage loans totaling $39.6 million (net of fair value write-downs of $13.8 million), non-performing construction loans totaling $33.0 million (net of fair value write-downs of $6.7 million) and non-performing commercial and industrial loans totaling $1.8 million (net of fair value write-downs of $1.7 million). Approximately $27.2 million of the commercial mortgage loans transferred to loan held for sale were eventually sold during the second quarter and third quarters of 2018.
(2) | As of September 30, 2018 and December 31, 2017, $802.7 million and $833.5 million, respectively, of commercial loans were secured by real estate but are not dependent upon the real estate for repayment.
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] |
Loans and Leases Receivable Disclosure [Line Items] |
Portfolio of Loans Held for Sale | The Corporation’s loans held-for-sale portfolio as of the dates indicated was composed of:
|  | September 30, 2018 |  | December 31, 2017 |
(In thousands) |  |
Residential mortgage loans | $ | 21,562 |  | $ | 24,690 |
Construction loans (1) |  | 30,015 |  |  | 8,290 |
Commercial and Industrial loans (1) |  | 1,790 |  |  | - |
Commercial mortgage loans (1) |  | 12,372 |  |  | - |
Total | $ | 65,739 |  | $ | 32,980 |
(1) | During the first nine months of 2018, the Corporation transferred $74.4 million (net of fair value write-downs of $22.2 million recorded at the time of transfers) in non-performing loans to held for sale. Loans transferred to held for sale consisted of non-performing commercial mortgage loans totaling $39.6 million (net of fair value write-downs of $13.8 million), non-performing construction loans totaling $33.0 million (net of fair value write-downs of $6.7 million) and non-performing commercial and industrial loans totaling $1.8 million (net of fair value write-downs of $1.7 million). Approximately $27.2 million of the commercial mortgage loans transferred to loan held for sale were eventually sold during the second quarter and third quarters of 2018. In addition, during the third quarter of 2018, the Corporation sold the non-performing construction loan that was outstanding as of December 31, 2017 that was carried at a book value of $7.7 million at the time of sale. |

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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