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Loans and Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2017
Receivables [Abstract]  
Loans and Allowance for Credit Losses
NOTE 4 – LOANS AND ALLOWANCE FOR CREDIT LOSSES
Loans, net of unearned income
Loans, net of unearned income are summarized as follows as of December 31:
 
2017
 
2016
 
(in thousands)
Real estate – commercial mortgage
$
6,364,804

 
$
6,018,582

Commercial – industrial, financial and agricultural
4,300,297

 
4,087,486

Real estate – residential mortgage
1,954,711

 
1,601,994

Real estate – home equity
1,559,719

 
1,625,115

Real estate – construction
1,006,935

 
843,649

Consumer
313,783

 
291,470

Leasing and other
291,556

 
246,704

Overdrafts
4,113

 
3,662

Loans, gross of unearned income
15,795,918

 
14,718,662

Unearned income
(27,671
)
 
(19,390
)
Loans, net of unearned income
$
15,768,247

 
$
14,699,272



The Corporation has extended credit to the officers and directors of the Corporation and to their associates. These related-party loans are made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons and do not involve more than the normal risk of collection. The aggregate dollar amount of these loans, including unadvanced commitments, was $113.6 million and $154.4 million as of December 31, 2017 and 2016, respectively. During 2017, additions totaled $4.9 million and repayments totaled $45.8 million in related-party loans.
The total portfolio of mortgage loans serviced by the Corporation for unrelated third parties was $4.6 billion and $4.7 billion as of December 31, 2017 and 2016, respectively.
Allowance for Credit Losses
The following table presents the components of the allowance for credit losses as of December 31:
 
2017
 
2016
 
2015
 
(in thousands)
Allowance for loan losses
$
169,910

 
$
168,679

 
$
169,054

Reserve for unfunded lending commitments
6,174

 
2,646

 
2,358

Allowance for credit losses
$
176,084

 
$
171,325

 
$
171,412



The following table presents the activity in the allowance for credit losses for the years ended December 31:
 
2017
 
2016
 
2015
 
(in thousands)
Balance at beginning of year
$
171,325

 
$
171,412

 
$
185,931

Loans charged off
(33,290
)
 
(33,927
)
 
(32,157
)
Recoveries of loans previously charged off
14,744

 
20,658

 
15,388

Net loans charged off
(18,546
)
 
(13,269
)
 
(16,769
)
Provision for credit losses
23,305

 
13,182

 
2,250

Balance at end of year
$
176,084

 
$
171,325

 
$
171,412

The following table presents the activity in the allowance for loan losses by portfolio segment for the years ended December 31 and loans, net of unearned income, and their related allowance for loan losses, by portfolio segment, as of December 31:

 
Real Estate -
Commercial
Mortgage
 
Commercial -
Industrial,
Financial and
Agricultural
 
Real Estate -
Home
Equity
 
Real Estate -
Residential
Mortgage
 
Real Estate -
Construction
 
Consumer
 
Leasing
and other
and
Overdrafts
 
Unallocated
 
Total
 
(in thousands)
Balance at December 31, 2015
$
47,866

 
$
57,098

 
$
22,405

 
$
21,375

 
$
6,529

 
$
2,585

 
$
2,468

 
$
8,728

 
$
169,054

Loans charged off
(3,580
)
 
(15,276
)
 
(4,912
)
 
(2,326
)
 
(1,218
)
 
(2,800
)
 
(3,815
)
 
—

 
(33,927
)
Recoveries of loans previously charged off
3,373

 
8,981

 
1,171

 
1,072

 
3,924

 
1,295

 
842

 
—

 
20,658

Net loans charged off
(207
)
 
(6,295
)
 
(3,741
)
 
(1,254
)
 
2,706

 
(1,505
)
 
(2,973
)
 
—

 
(13,269
)
Provision for loan losses (1)
(817
)
 
3,550

 
8,137

 
2,808

 
(2,780
)
 
2,494

 
3,697

 
(4,195
)
 
12,894

Balance at December 31, 2016
46,842

 
54,353

 
26,801

 
22,929

 
6,455

 
3,574

 
3,192

 
4,533

 
168,679

Loans charged off
(2,169
)
 
(19,067
)
 
(2,340
)
 
(687
)
 
(3,765
)
 
(2,227
)
 
(3,035
)
 
—

 
(33,290
)
Recoveries of loans previously charged off
1,668

 
7,771

 
813

 
786

 
1,582

 
1,156

 
968

 
—

 
14,744

Net loans charged off
(501
)
 
(11,296
)
 
(1,527
)
 
99

 
(2,183
)
 
(1,071
)
 
(2,067
)
 
—

 
(18,546
)
Provision for loan losses (1)
12,452

 
23,223

 
(7,147
)
 
(6,940
)
 
2,348

 
(458
)
 
832

 
(4,533
)
 
19,777

Balance at December 31, 2017
$
58,793

 
$
66,280

 
$
18,127

 
$
16,088

 
$
6,620

 
$
2,045

 
$
1,957

 
$
—

 
$
169,910

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Evaluated for impairment under FASB ASC Subtopic 450-20
$
50,681

 
$
54,874

 
$
7,003

 
$
6,193

 
$
5,653

 
$
2,028

 
$
1,957

 
$
—

 
$
128,389

Evaluated for impairment under FASB ASC Section 310-10-35
8,112

 
11,406

 
11,124

 
9,895

 
967

 
17

 
—

 
N/A

 
41,521

 
$
58,793

 
$
66,280

 
$
18,127

 
$
16,088

 
$
6,620

 
$
2,045

 
$
1,957

 
$
—

 
$
169,910

Loans, net of unearned income at December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Evaluated for impairment under FASB ASC Subtopic 450-20
$
6,316,023

 
$
4,236,572

 
$
1,535,026

 
$
1,913,004

 
$
994,738

 
$
313,757

 
$
267,998

 
N/A

 
$
15,577,118

Evaluated for impairment under FASB ASC Section 310-10-35
48,781

 
63,725

 
24,693

 
41,707

 
12,197

 
26

 
—

 
N/A

 
191,129

 
$
6,364,804

 
$
4,300,297

 
$
1,559,719

 
$
1,954,711

 
$
1,006,935

 
$
313,783

 
$
267,998

 
N/A

 
$
15,768,247

Allowance for loan losses at December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Evaluated for impairment under FASB ASC Subtopic 450-20
$
36,680

 
$
40,700

 
$
17,290

 
$
11,032

 
$
4,587

 
$
3,548

 
$
3,192

 
$
4,533

 
$
121,562

Evaluated for impairment under FASB ASC Section 310-10-35
10,162

 
13,653

 
9,511

 
11,897

 
1,868

 
26

 
—

 
N/A

 
47,117

 
$
46,842

 
$
54,353

 
$
26,801

 
$
22,929

 
$
6,455

 
$
3,574

 
$
3,192

 
$
4,533

 
$
168,679

Loans, net of unearned income at December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Evaluated for impairment under FASB ASC Subtopic 450-20
$
5,963,689

 
$
4,038,511

 
$
1,605,910

 
$
1,555,946

 
$
833,117

 
$
291,430

 
$
230,976

 
N/A

 
$
14,519,579

Evaluated for impairment under FASB ASC Section 310-10-35
54,893

 
48,975

 
19,205

 
46,048

 
10,532

 
40

 
—

 
N/A

 
179,693

 
$
6,018,582

 
$
4,087,486

 
$
1,625,115

 
$
1,601,994

 
$
843,649

 
$
291,470

 
$
230,976

 
N/A

 
$
14,699,272



(1)
For the year ended December 31, 2017, the provision for loan losses excluded a $3.5 million increase in the reserve for unfunded lending commitments. The total provision for credit losses, comprised of allocations for both funded and unfunded loans, was $23.3 million for the year ended December 31, 2017. For the year ended December 31, 2016, the provision for loan losses excluded a $288,000 increase in the reserve for unfunded lending commitments. The total provision for credit losses was $13.2 million for the year ended December 31, 2016.

N/A – Not applicable.










Impaired Loans

The following table presents total impaired loans by class segment as of December 31: 
 
2017
 
2016
 
Unpaid
Principal
Balance
 
Recorded
Investment
 
Related
Allowance
 
Unpaid
Principal
Balance
 
Recorded
Investment
 
Related
Allowance
 
(in thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
$
26,728

 
$
22,886

 
$
—

 
$
28,757

 
$
25,447

 
$
—

Commercial - secured
44,936

 
39,550

 
—

 
29,296

 
25,526

 
—

Real estate - residential mortgage
4,575

 
4,575

 
—

 
4,689

 
4,689

 
—

Construction - commercial residential
12,477

 
8,100

 
—

 
6,271

 
4,795

 
—

 
88,716

 
75,111

 
 
 
69,013

 
60,457

 
 
With a related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
33,710

 
25,895

 
8,112

 
37,132

 
29,446

 
10,162

Commercial - secured
28,819

 
23,442

 
11,013

 
27,767

 
22,626

 
13,198

Commercial - unsecured
997

 
733

 
393

 
1,122

 
823

 
455

Real estate - home equity
28,282

 
24,693

 
11,124

 
23,971

 
19,205

 
9,511

Real estate - residential mortgage
42,597

 
37,132

 
9,895

 
48,885

 
41,359

 
11,897

Construction - commercial residential
6,846

 
3,667

 
813

 
10,103

 
4,206

 
1,300

Construction - commercial
45

 
19

 
7

 
681

 
435

 
145

Construction - other
417

 
411

 
147

 
1,096

 
1,096

 
423

Consumer - indirect
11

 
11

 
7

 
19

 
19

 
12

Consumer - direct
15

 
15

 
10

 
21

 
21

 
14

 
141,739

 
116,018

 
41,521

 
150,797

 
119,236

 
47,117

Total
$
230,455

 
$
191,129

 
$
41,521

 
$
219,810

 
$
179,693

 
$
47,117


As of December 31, 2017 and 2016, there were $75.1 million and $60.5 million, respectively, of impaired loans that did not have a related allowance for loan loss. The estimated fair values of the collateral securing these loans exceeded their carrying amount, or the loans have been charged down to realizable collateral values. Accordingly, no specific valuation allowance was considered to be necessary.
The following table presents average impaired loans, by class segment, for the years ended December 31:
 
2017
 
2016
 
2015
 
Average
Recorded
Investment
 
Interest Income
Recognized (1)
 
Average
Recorded
Investment
 
Interest Income
Recognized (1)
 
Average
Recorded
Investment
 
Interest Income
Recognized (1)
 
(in thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
$
22,793

 
$
281

 
$
24,232

 
$
294

 
$
25,345

 
$
315

Commercial - secured
31,357

 
182

 
19,825

 
104

 
15,654

 
97

Commercial - unsecured
—

 
—

 
—

 
—

 
17

 
—

Real estate - residential mortgage
4,631

 
107

 
5,598

 
126

 
5,389

 
124

Construction - commercial residential
7,016

 
12

 
6,285

 
48

 
11,685

 
148

Construction - commercial
239

 
—

 
—

 
—

 
915

 
—

 
66,036

 
582

 
55,940

 
572

 
59,005

 
684

With a related allowance recorded:
 
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
27,193

 
338

 
31,737

 
384

 
39,232

 
475

Commercial - secured
23,321

 
135

 
25,857

 
130

 
25,660

 
150

Commercial - unsecured
791

 
2

 
887

 
4

 
1,749

 
6

Real estate - home equity
21,704

 
534

 
17,912

 
285

 
13,887

 
144

Real estate - residential mortgage
39,093

 
903

 
42,191

 
908

 
46,252

 
1,041

Construction - commercial residential
5,051

 
11

 
5,295

 
41

 
6,455

 
79

Construction - commercial
152

 
—

 
524

 
—

 
931

 
—

Construction - other
957

 
—

 
682

 
—

 
263

 
—

Consumer - indirect
15

 
1

 
15

 
1

 
16

 
1

Consumer - direct
18

 
1

 
18

 
1

 
17

 
1

Leasing, other and overdrafts
285

 
—

 
854

 
—

 
285

 
—

 
118,580

 
1,925

 
125,972

 
1,754

 
134,747

 
1,897

Total
$
184,616

 
$
2,507

 
$
181,912

 
$
2,326

 
$
193,752

 
$
2,581

  
(1)
Interest income recognized for the years ended December 31, 2017, 2016 and 2015 represents amounts earned on accruing TDRs. Impaired loans consist of loans on non-accrual status and accruing TDRs.

Credit Quality Indicators and Non-performing Assets

The following table presents internal credit risk ratings as of December 31:

Pass
 
Special Mention
 
Substandard or Lower
 
Total

2017
 
2016
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016

(dollars in thousands)
Real estate - commercial mortgage
$
6,066,396

 
$
5,763,122

 
$
147,604

 
$
132,484

 
$
150,804

 
$
122,976

 
$
6,364,804

 
$
6,018,582

Commercial - secured
3,831,485

 
3,686,152

 
121,842

 
128,873

 
179,113

 
118,527

 
4,132,440

 
3,933,552

Commercial -unsecured
159,620

 
145,922

 
5,478

 
4,481

 
2,759

 
3,531

 
167,857

 
153,934

Total commercial - industrial, financial and agricultural
3,991,105

 
3,832,074

 
127,320

 
133,354

 
181,872

 
122,058

 
4,300,297

 
4,087,486

Construction - commercial residential
143,759

 
113,570

 
5,259

 
15,447

 
14,084

 
13,172

 
163,102

 
142,189

Construction - commercial
761,218

 
635,963

 
846

 
3,412

 
3,752

 
5,115

 
765,816

 
644,490

Total real estate - construction (excluding construction - other)
904,977

 
749,533

 
6,105

 
18,859

 
17,836

 
18,287

 
928,918

 
786,679

Total
$
10,962,478

 
$
10,344,729

 
$
281,029

 
$
284,697

 
$
350,512

 
$
263,321

 
$
11,594,019

 
$
10,892,747

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
% of Total
94.6
%
 
95.0
%
 
2.4
%
 
2.6
%
 
3.0
%
 
2.4
%
 
100.0
%
 
100.0
%

The following table presents delinquency and non-performing status for loans that do not have internal credit risk ratings, by class segment, as of December 31:
 
Performing
 
Delinquent (1)
 
Non-performing (2)
 
Total
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
 
(dollars in thousands)
Real estate - home equity
$
1,535,557

 
$
1,602,687

 
$
12,655

 
$
9,274

 
$
11,507

 
$
13,154

 
$
1,559,719

 
$
1,625,115

Real estate - residential mortgage
1,914,888

 
1,557,995

 
18,852

 
20,344

 
20,971

 
23,655

 
1,954,711

 
1,601,994

Real estate - construction - other
77,403

 
55,874

 
203

 
—

 
411

 
1,096

 
78,017

 
56,970

Consumer - direct
54,828

 
93,572

 
315

 
1,752

 
70

 
1,563

 
55,213

 
96,887

Consumer - indirect
254,663

 
190,656

 
3,681

 
3,599

 
226

 
328

 
258,570

 
194,583

Total consumer
309,491

 
284,228

 
3,996

 
5,351

 
296

 
1,891

 
313,783

 
291,470

Leasing, other and overdrafts
267,111

 
229,591

 
855

 
1,068

 
32

 
317

 
267,998

 
230,976

Total
$
4,104,450

 
$
3,730,375

 
$
36,561

 
$
36,037

 
$
33,217

 
$
40,113

 
$
4,174,228

 
$
3,806,525

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
% of Total
98.3
%
 
98.0
%
 
0.9
%
 
0.9
%
 
0.8
%
 
1.1
%
 
100.0
%
 
100.0
%
 
(1)Includes all accruing loans 30 days to 89 days past due.
(2)Includes all accruing loans 90 days or more past due and all non-accrual loans.
The following table presents total non-performing assets as of December 31:
 
2017
 
2016
 
(in thousands)
Non-accrual loans
$
124,749

 
$
120,133

Loans 90 days or more past due and still accruing
10,010

 
11,505

Total non-performing loans
134,759

 
131,638

Other real estate owned
9,823

 
12,815

Total non-performing assets
$
144,582

 
$
144,453









The following table presents past due status and non-accrual loans, by portfolio segment and class segment, as of December 31:

 
2017
 
30-59
Days Past
Due
 
60-89
Days Past
Due
 
≥ 90 Days
Past Due
and
Accruing
 
Non-
accrual
 
Total ≥ 90
Days
 
Total Past
Due
 
Current
 
Total
 
(in thousands)
Real estate - commercial mortgage
$
9,456

 
$
4,223

 
$
625

 
$
34,822

 
$
35,447

 
$
49,126

 
$
6,315,678

 
$
6,364,804

Commercial - secured
4,778

 
5,254

 
1,360

 
52,255

 
53,615

 
63,647

 
4,068,793

 
4,132,440

Commercial - unsecured
305

 
10

 
45

 
649

 
694

 
1,009

 
166,848

 
167,857

Total Commercial - industrial, financial and agricultural
5,083

 
5,264

 
1,405

 
52,904

 
54,309

 
64,656

 
4,235,641

 
4,300,297

Real estate - home equity
9,640

 
3,015

 
2,372

 
9,135

 
11,507

 
24,162

 
1,535,557

 
1,559,719

Real estate - residential mortgage
11,961

 
6,891

 
5,280

 
15,691

 
20,971

 
39,823

 
1,914,888

 
1,954,711

Construction - commercial
483

 
—

 
—

 
19

 
19

 
502

 
765,314

 
765,816

Construction - commercial residential
—

 
439

 
—

 
11,767

 
11,767

 
12,206

 
150,896

 
163,102

Construction - other
203

 
—

 
—

 
411

 
411

 
614

 
77,403

 
78,017

Total Real estate - construction
686

 
439

 
—

 
12,197

 
12,197

 
13,322

 
993,613

 
1,006,935

Consumer - direct
260

 
55

 
70

 
—

 
70

 
385

 
54,828

 
55,213

Consumer - indirect
3,055

 
626

 
226

 
—

 
226

 
3,907

 
254,663

 
258,570

Total Consumer
3,315

 
681

 
296

 
—

 
296

 
4,292

 
309,491

 
313,783

Leasing, other and overdrafts
568

 
287

 
32

 
—

 
32

 
887

 
267,111

 
267,998

 
$
40,709

 
$
20,800

 
$
10,010

 
$
124,749

 
$
134,759

 
$
196,268

 
$
15,571,979

 
$
15,768,247


 
2016
 
30-59
Days Past
Due
 
60-89
Days Past
Due
 
≥ 90 Days
Past Due
and
Accruing
 
Non-
accrual
 
Total ≥ 90
Days
 
Total Past
Due
 
Current
 
Total
 
(in thousands)
Real estate - commercial mortgage
$
6,254

 
$
1,622

 
$
383

 
$
38,936

 
$
39,319

 
$
47,195

 
$
5,971,387

 
$
6,018,582

Commercial - secured
6,660

 
2,616

 
959

 
41,589

 
42,548

 
51,824

 
3,881,728

 
3,933,552

Commercial - unsecured
898

 
35

 
152

 
760

 
912

 
1,845

 
152,089

 
153,934

Total Commercial - industrial, financial and agricultural
7,558

 
2,651

 
1,111

 
42,349

 
43,460

 
53,669

 
4,033,817

 
4,087,486

Real estate - home equity
6,596

 
2,678

 
2,543

 
10,611

 
13,154

 
22,428

 
1,602,687

 
1,625,115

Real estate - residential mortgage
15,600

 
4,744

 
5,224

 
18,431

 
23,655

 
43,999

 
1,557,995

 
1,601,994

Construction - commercial
743

 
—

 
—

 
435

 
435

 
1,178

 
643,312

 
644,490

Construction - commercial residential
233

 
51

 
36

 
8,275

 
8,311

 
8,595

 
133,594

 
142,189

Construction - other
—

 
—

 
—

 
1,096

 
1,096

 
1,096

 
55,874

 
56,970

Total Real estate - construction
976

 
51

 
36

 
9,806

 
9,842

 
10,869

 
832,780

 
843,649

Consumer - direct
1,211

 
541

 
1,563

 
—

 
1,563

 
3,315

 
93,572

 
96,887

Consumer - indirect
3,200

 
399

 
328

 
—

 
328

 
3,927

 
190,656

 
194,583

Total Consumer
4,411

 
940

 
1,891

 
—

 
1,891

 
7,242

 
284,228

 
291,470

Leasing, other and overdrafts
543

 
525

 
317

 
—

 
317

 
1,385

 
229,591

 
230,976

 
$
41,938

 
$
13,211

 
$
11,505

 
$
120,133

 
$
131,638

 
$
186,787

 
$
14,512,485

 
$
14,699,272











The following table presents TDRs as of December 31:
 
2017
 
2016
 
(in thousands)
Real-estate - residential mortgage
$
26,016

 
$
27,617

Real estate - home equity
15,558

 
8,594

Commercial
10,820

 
6,627

Real-estate - commercial mortgage
13,959

 
15,957

Consumer - direct
26

 
39

Construction - commercial residential
—

 
726

Total accruing TDRs
66,379

 
59,560

Non-accrual TDRs (1)
29,051

 
27,850

Total TDRs
$
95,430

 
$
87,410

 
(1)Included within non-accrual loans in the preceding table.

As of December 31, 2017 and 2016, there were $8.6 million and $3.6 million, respectively, of commitments to lend additional funds to borrowers whose loans were modified under TDRs.
The following table presents TDRs by class segment and type of concession for loans that were modified during the years ended December 31, 2017, 2016 and 2015:

 
2017
 
2016
 
2015
Number of Loans
 
Post-Modification Recorded Investment
 
Number of Loans
 
Post-Modification Recorded Investment
 
Number of Loans
 
Post-Modification Recorded Investment
 
(dollars in thousands)
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
Extend maturity with rate concession
—

 
$
—

 
—

 
$
—

 
2

 
$
127

 
Extend maturity without rate concession
23

 
15,058

 
12

 
3,904

 
10

 
3,823

 
Bankruptcy
1

 
490

 
—

 
—

 
—

 
—

Real estate - commercial mortgage:
 
 
 
 
 
 
 
 
 
 
 
 
Extend maturity with rate concession
—

 
—

 
—

 
—

 
5

 
2,014

 
Extend maturity without rate concession
9

 
2,899

 
—

 
—

 
4

 
639

 
Bankruptcy
1

 
12

 
—

 
—

 
—

 
—

Real estate - home equity:
 
 
 
 
 
 
 
 
 
 
 
 
Extend maturity with rate concession
—

 
—

 
—

 
—

 
2

 
36

 
Extend maturity without rate concession
69

 
5,843

 
89

 
4,484

 
3

 
203

 
Bankruptcy
28

 
1,813

 
47

 
2,671

 
52

 
2,501

Real estate – residential mortgage:
 
 
 
 
 
 
 
 
 
 
 
 
Extend maturity with rate concession
2

 
468

 
—

 
—

 
4

 
750

 
Extend maturity without rate concession
5

 
1,044

 
2

 
315

 
3

 
262

 
Bankruptcy
3

 
392

 
6

 
981

 
7

 
2,508

Construction - commercial residential:
 
 
 
 
 
 
 
 
 
 
 
 
Extend maturity without rate concession
1

 
1,204

 
—

 
—

 
1

 
1,535

 
Bankruptcy
1

 
411

 
—

 
—

 
—

 
—

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
Bankruptcy
—

 
—

 
2

 
23

 
3

 
18

 
 
 
 
 
 
 
 
 
 
 
 
 
Total
143

 
$
29,634

 
158

 
$
12,378

 
96

 
$
14,416



The following table presents TDRs, by class segment, that were modified during the years ended December 31, 2017, 2016 and 2015 and had a post-modification payment default during their respective year of modification. The Corporation defines a payment default as a single missed scheduled payment:
 
2017
 
2016
 
2015
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(dollars in thousands)
Construction - commercial residential
1

 
$
1,192

 
—

 
$
—

 
—

 
$
—

Construction - other
1

 
411

 
—

 
—

 
—

 
—

Real estate - commercial mortgage
2

 
549

 
1

 
118

 
4

 
359

Real estate - residential mortgage
5

 
577

 
8

 
1,500

 
4

 
445

Commercial
6

 
1,571

 
7

 
2,523

 
8

 
3,549

Real estate - home equity
25

 
1,575

 
28

 
1,836

 
13

 
763

Consumer
—

 
—

 
1

 
19

 
—

 
—

Total
40

 
$
5,875

 
45

 
$
5,996

 
29

 
$
5,116