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Loans and Allowance for Credit Losses
 3 Months Ended
Mar. 31, 2018
Receivables [Abstract]  
Loans and Allowance for Credit Losses
Loans and Allowance for Credit Losses

Loans, Net of Unearned Income

Loans, net of unearned income are summarized as follows:
 
March 31,
2018
 
December 31, 2017
 
(in thousands)
Real-estate - commercial mortgage
$
6,332,508

 
$
6,364,804

Commercial - industrial, financial and agricultural
4,299,072

 
4,300,297

Real-estate - residential mortgage
1,976,524

 
1,954,711

Real-estate - home equity
1,514,241

 
1,559,719

Real-estate - construction
976,131

 
1,006,935

Consumer
326,766

 
313,783

Leasing and other
297,465

 
291,556

Overdrafts
2,031

 
4,113

Loans, gross of unearned income
15,724,738

 
15,795,918

Unearned income
(28,454
)
 
(27,671
)
Loans, net of unearned income
$
15,696,284

 
$
15,768,247



The Corporation segments its loan portfolio by general loan type, or "portfolio segments," as presented in the table under the heading, "Loans, Net of Unearned Income," above. Certain portfolio segments are further disaggregated and evaluated collectively for impairment based on "class segments," which are largely based on the type of collateral underlying each loan. Commercial loans include both secured and unsecured loans. Construction loan class segments include loans secured by commercial real estate, loans to commercial borrowers secured by residential real estate and loans to individuals secured by residential real estate. Consumer loan class segments include direct consumer installment loans and indirect vehicle loans.

Allowance for Credit Losses

The allowance for credit losses consists of the allowance for loan losses and the reserve for unfunded lending commitments. The allowance for loan losses represents management’s estimate of incurred losses in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The reserve for unfunded lending commitments represents management’s estimate of incurred losses in its unfunded loan commitments and is recorded in other liabilities on the consolidated balance sheets. The allowance for credit losses is increased by charges to expense, through the provision for credit losses, and decreased by charge-offs, net of recoveries.

The Corporation’s allowance for credit losses includes: (1) specific allowances allocated to loans individually evaluated for impairment (FASB ASC Section 310-10-35); and (2) allowances calculated for pools of loans collectively evaluated for impairment (FASB ASC Subtopic 450-20).

The following table presents the components of the allowance for credit losses:
 
March 31,
2018
 
December 31,
2017
 
(in thousands)
Allowance for loan losses
$
163,217

 
$
169,910

Reserve for unfunded lending commitments
12,802

 
6,174

Allowance for credit losses
$
176,019

 
$
176,084



The following table presents the activity in the allowance for credit losses:
 
Three months ended March 31
 
2018
 
2017
 
(in thousands)
Balance at beginning of period
$
176,084

 
$
171,325

Loans charged off
(6,397
)
 
(9,407
)
Recoveries of loans previously charged off
2,362

 
5,929

Net loans charged off
(4,035
)
 
(3,478
)
Provision for credit losses
3,970

 
4,800

Balance at end of period
$
176,019

 
$
172,647


The Corporation has historically maintained an unallocated allowance for credit losses for factors and conditions that exist at the balance sheet date, but are not specifically identifiable, and to recognize the inherent imprecision in estimating and measuring loss exposure. In the second quarter of 2017, enhancements were made to allow for the impact of these factors and conditions to be quantified in the allowance allocation process. Accordingly, an unallocated allowance for credit losses is no longer necessary.

The following table presents the activity in the allowance for loan losses by portfolio segment:
 
Real Estate -
Commercial
Mortgage
 
Commercial -
Industrial,
Financial and
Agricultural
 
Real Estate -
Home
Equity
 
Real Estate -
Residential
Mortgage
 
Real Estate -
Construction
 
Consumer
 
Leasing, other
and
overdrafts
 
Unallocated
 
Total
 
(in thousands)
Three months ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2017
$
58,793

 
$
66,280

 
$
18,127

 
$
16,088

 
$
6,620

 
$
2,045

 
$
1,957

 
$
—

 
$
169,910

Loans charged off
(267
)
 
(4,005
)
 
(408
)
 
(162
)
 
(158
)
 
(892
)
 
(505
)
 
—

 
(6,397
)
Recoveries of loans previously charged off
279

 
1,075

 
206

 
107

 
306

 
179

 
210

 
—

 
2,362

Net loans charged off
12

 
(2,930
)
 
(202
)
 
(55
)
 
148

 
(713
)
 
(295
)
 
—

 
(4,035
)
Provision for loan losses (1)
(88
)
 
(1,520
)
 
(397
)
 
(772
)
 
(844
)
 
571

 
392

 
—

 
(2,658
)
Balance at March 31, 2018
$
58,717

 
$
61,830

 
$
17,528

 
$
15,261

 
$
5,924

 
$
1,903

 
$
2,054

 
$
—

 
$
163,217

Three months ended March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
(1,224
)
 
(5,527
)
 
(698
)
 
(216
)
 
(247
)
 
(856
)
 
(639
)
 
—

 
(9,407
)
Recoveries of loans previously charged off
450

 
4,191

 
137

 
230

 
548

 
236

 
137

 
—

 
5,929

Net loans charged off
(774
)
 
(1,336
)
 
(561
)
 
14

 
301

 
(620
)
 
(502
)
 
—

 
(3,478
)
Provision for loan losses (1)
1,305

 
2,292

 
(2,419
)
 
(925
)
 
745

 
77

 
578

 
3,222

 
4,875

Balance at March 31, 2017
$
47,373

 
$
55,309

 
$
23,821

 
$
22,018

 
$
7,501

 
$
3,031

 
$
3,268

 
$
7,755

 
$
170,076


(1)
The provision for loan losses excluded an increase of $6.6 million and a decrease of $75,000 in the reserve for unfunded lending commitments for the three months ended March 31, 2018 and March 31, 2017, respectively. These amounts were reclassified to Other Liabilities.









The following table presents loans, net of unearned income and their related allowance for loan losses, by portfolio segment:
 
Real Estate -
Commercial
Mortgage
 
Commercial -
Industrial,
Financial and
Agricultural
 
Real Estate -
Home
Equity
 
Real Estate -
Residential
Mortgage
 
Real Estate -
Construction
 
Consumer
 
Leasing, other
and
overdrafts
 
Unallocated
 
Total
 
(in thousands)
Allowance for loan losses at March 31, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans collectively evaluated for impairment
$
50,392

 
$
51,314

 
$
6,440

 
$
5,610

 
$
5,245

 
$
1,887

 
$
2,054

 
N/A

 
$
122,942

Loans individually evaluated for impairment
8,325

 
10,516

 
11,088

 
9,651

 
679

 
16

 
—

 
N/A

 
40,275

 
$
58,717

 
$
61,830

 
$
17,528

 
$
15,261

 
$
5,924

 
$
1,903

 
$
2,054

 
N/A

 
$
163,217

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans, net of unearned income at March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans collectively evaluated for impairment
$
6,279,144

 
$
4,234,362

 
$
1,489,429

 
$
1,935,587

 
$
965,398

 
$
326,742

 
$
271,042

 
N/A

 
$
15,501,704

Loans individually evaluated for impairment
53,364

 
64,710

 
24,812

 
40,937

 
10,733

 
24

 
—

 
N/A

 
194,580

 
$
6,332,508

 
$
4,299,072

 
$
1,514,241

 
$
1,976,524

 
$
976,131

 
$
326,766

 
$
271,042

 
N/A

 
$
15,696,284

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses at March 31, 2017:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans collectively evaluated for impairment
$
37,457

 
$
43,155

 
$
14,744

 
$
10,581

 
$
4,915

 
$
3,007

 
$
3,268

 
$
7,755

 
$
124,882

Loans individually evaluated for impairment
9,916

 
12,154

 
9,077

 
11,437

 
2,586

 
24

 
—

 
N/A

 
45,194

 
$
47,373

 
$
55,309

 
$
23,821

 
$
22,018

 
$
7,501

 
$
3,031

 
$
3,268

 
$
7,755

 
$
170,076

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans, net of unearned income at March 31, 2017:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans collectively evaluated for impairment
$
6,067,492

 
$
4,119,550

 
$
1,576,949

 
$
1,620,302

 
$
869,225

 
$
288,789

 
$
243,983

 
N/A

 
$
14,786,290

Loans individually evaluated for impairment
51,041

 
48,259

 
18,952

 
44,840

 
13,758

 
37

 
—

 
N/A

 
176,887

 
$
6,118,533

 
$
4,167,809

 
$
1,595,901

 
$
1,665,142

 
$
882,983

 
$
288,826

 
$
243,983

 
N/A

 
$
14,963,177

 
N/A - Not applicable.

Impaired Loans

A loan is considered to be impaired if it is probable that all amounts will not be collected according to the contractual terms of the loan agreement. Impaired loans consist of all loans on non-accrual status and accruing troubled debt restructurings ("TDRs"). An allowance for loan losses is established for an impaired loan if its carrying value exceeds its estimated fair value. Impaired loans to borrowers with total outstanding commitments greater than or equal to $1.0 million are evaluated individually for impairment. Impaired loans to borrowers with total outstanding commitments less than $1.0 million are pooled and measured for impairment collectively.

All loans individually evaluated for impairment are measured for losses on a quarterly basis. As of March 31, 2018 and December 31, 2017, substantially all of the Corporation’s individually evaluated impaired loans with total outstanding balances greater than or equal to $1.0 million were measured based on the estimated fair value of each loan’s collateral. Collateral could be in the form of real estate, in the case of impaired commercial mortgages and construction loans, or business assets, such as accounts receivable or inventory, in the case of commercial and industrial loans. Commercial and industrial loans may also be secured by real estate.

As of March 31, 2018 and 2017, approximately 72% and 67%, respectively, of impaired loans with principal balances greater than or equal to $1.0 million, whose primary collateral is real estate, were measured at estimated fair value of the collateral using appraisals that had been updated in the preceding 12 months, performed by state certified third-party appraisers.

When updated appraisals are not obtained for loans evaluated for impairment that are secured by real estate, fair values are estimated based on the original appraisal values, as long as the original appraisal indicated an acceptable loan-to-value position and, in the opinion of the Corporation's internal credit administration staff, there has not been a significant deterioration in the collateral value since the original appraisal was performed. Original appraisals are typically used only when the estimated collateral value, as adjusted for the age of the appraisal, results in a current loan-to-value ratio that is lower than the Corporation's loan-to-value requirements for new loans (generally less than 70%).


The following table presents total impaired loans by class segment:
 
March 31, 2018
 
December 31, 2017
 
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
$
29,862

 
$
27,819

 
$
—

 
$
26,728

 
$
22,886

 
$
—

Commercial
46,673

 
40,525

 
—

 
44,936

 
39,550

 
—

Real estate - residential mortgage
4,547

 
4,547

 
—

 
4,575

 
4,575

 
—

Construction
12,343

 
7,842

 
—

 
12,477

 
8,100

 
—

 
93,425

 
80,733

 

 
88,716

 
75,111

 

With a related allowance recorded:
 
 
 
 
 
 
 
 
 
 
Real estate - commercial mortgage
32,863

 
25,545

 
8,325

 
33,710

 
25,895

 
8,112

Commercial
29,723

 
24,185

 
10,516

 
29,816

 
24,175

 
11,406

Real estate - home equity
28,387

 
24,812

 
11,088

 
28,282

 
24,693

 
11,124

Real estate - residential mortgage
41,889

 
36,390

 
9,651

 
42,597

 
37,132

 
9,895

Construction
6,186

 
2,891

 
679

 
7,308

 
4,097

 
967

Consumer
25

 
24

 
16

 
26

 
26

 
17

 
139,073

 
113,847

 
40,275

 
141,739

 
116,018

 
41,521

Total
$
232,498

 
$
194,580

 
$
40,275

 
$
230,455

 
$
191,129

 
$
41,521


As of March 31, 2018 and December 31, 2017, there were $80.7 million and $75.1 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 were previously 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:
 
Three months ended March 31
 
2018
 
2017
 
Average
Recorded
Investment
 
Interest
Income (1)
 
Average
Recorded
Investment
 
Interest
Income (1)
 
(in thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
Real estate - commercial mortgage
$
25,353

 
$
83

 
$
23,842

 
$
70

Commercial
40,038

 
73

 
25,574

 
36

Real estate - residential mortgage
4,561

 
27

 
4,673

 
26

Construction
7,971

 
—

 
5,046

 
2

 
77,923

 
183

 
59,135

 
134

With a related allowance recorded:
 
 
 
 
 
 
 
Real estate - commercial mortgage
25,720

 
84

 
29,126

 
85

Commercial
24,181

 
44

 
23,044

 
32

Real estate - home equity
24,752

 
184

 
19,079

 
95

Real estate - residential mortgage
36,761

 
221

 
40,839

 
230

Construction
3,495

 
—

 
7,100

 
3

Consumer
25

 
—

 
38

 
—

Leasing, other and overdrafts
—

 
—

 
713

 
—

 
114,934

 
533

 
119,939

 
445

Total
$
192,857

 
$
716

 
$
179,074

 
$
579

 
 
 
 
 
 
 
 
(1)
All impaired loans, excluding accruing TDRs, were non-accrual loans. Interest income recognized for the three months ended March 31, 2018 and 2017 represents amounts earned on accruing TDRs.


Credit Quality Indicators and Non-performing Assets

The following is a summary of the Corporation's internal risk rating categories:
•
Pass: These loans do not currently pose undue credit risk and can range from the highest to average quality, depending on the degree of potential risk.
•
Special Mention: These loans constitute an undue and unwarranted credit risk, but not to a point of justifying a classification of substandard. Loans in this category are currently acceptable, but are nevertheless potentially weak.
•
Substandard or Lower: These loans are inadequately protected by current sound worth and paying capacity of the borrower. There exists a well-defined weakness or weaknesses that jeopardize the normal repayment of the debt.

The risk rating process allows management to identify credits that potentially carry more risk in a timely manner and to allocate resources to managing troubled accounts. The Corporation believes that internal risk ratings are the most relevant credit quality indicator for the class segments presented above. The migration of loans through the various internal risk rating categories is a significant component of the allowance for credit loss methodology, which bases the probability of default on this migration. Assigning risk ratings involves judgment. The Corporation's loan review officers provide an independent assessment of risk rating accuracy. Ratings may be changed based on the ongoing monitoring procedures performed by loan officers or credit administration staff, or if specific loan review activities identify a deterioration or an improvement in the loan.
The following table presents internal credit risk ratings for the indicated loan class segments:
 
Pass
 
Special Mention
 
Substandard or Lower
 
Total
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
(dollars in thousands)
Real estate - commercial mortgage
$
6,027,210

 
$
6,066,396

 
$
144,809

 
$
147,604

 
$
160,489

 
$
150,804

 
$
6,332,508

 
$
6,364,804

Commercial - secured
3,873,737

 
3,831,485

 
100,242

 
121,842

 
180,234

 
179,113

 
4,154,213

 
4,132,440

Commercial - unsecured
139,139

 
159,620

 
3,378

 
5,478

 
2,342

 
2,759

 
144,859

 
167,857

Total commercial - industrial, financial and agricultural
4,012,876

 
3,991,105

 
103,620

 
127,320

 
182,576

 
181,872

 
4,299,072

 
4,300,297

Construction - commercial residential
141,587

 
143,759

 
4,613

 
5,259

 
12,282

 
14,084

 
158,482

 
163,102

Construction - commercial
744,274

 
761,218

 
834

 
846

 
3,688

 
3,752

 
748,796

 
765,816

Total construction (excluding Construction - other)
885,861

 
904,977

 
5,447

 
6,105

 
15,970

 
17,836

 
907,278

 
928,918

 
$
10,925,947

 
$
10,962,478

 
$
253,876

 
$
281,029

 
$
359,035

 
$
350,512

 
$
11,538,858

 
$
11,594,019

% of Total
94.7
%
 
94.6
%
 
2.2
%
 
2.4
%
 
3.1
%
 
3.0
%
 
100.0
%
 
100.0
%


The Corporation does not assign internal risk ratings to smaller balance, homogeneous loans, such as home equity, residential mortgage, construction loans to individuals secured by residential real estate, consumer and lease receivables. For these loans, the most relevant credit quality indicator is delinquency status. The migration of loans through the various delinquency status categories is a significant component of the allowance for credit losses methodology for those loans, which bases the probability of default on this migration.

The following table presents a summary of performing, delinquent and non-performing loans for the indicated loan class segments:
 
Performing
 
Delinquent (1)
 
Non-performing (2)
 
Total
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
 
(dollars in thousands)
Real estate - home equity
$
1,493,485

 
$
1,535,557

 
$
8,731

 
$
12,655

 
$
12,025

 
$
11,507

 
$
1,514,241

 
$
1,559,719

Real estate - residential mortgage
1,938,817

 
1,914,888

 
17,539

 
18,852

 
20,168

 
20,971

 
1,976,524

 
1,954,711

Construction - other
68,363

 
77,403

 
—

 
203

 
490

 
411

 
68,853

 
78,017

Consumer - direct
55,681

 
54,828

 
323

 
315

 
54

 
70

 
56,058

 
55,213

Consumer - indirect
267,584

 
254,663

 
2,931

 
3,681

 
193

 
226

 
270,708

 
258,570

Total consumer
323,265

 
309,491

 
3,254

 
3,996

 
247

 
296

 
326,766

 
313,783

Leasing
270,027

 
267,111

 
843

 
855

 
172

 
32

 
271,042

 
267,998

 
$
4,093,957

 
$
4,104,450

 
$
30,367

 
$
36,561

 
$
33,102

 
$
33,217

 
$
4,157,426

 
$
4,174,228

% of Total
98.5
%
 
98.3
%
 
0.7
%
 
0.9
%
 
0.8
%
 
0.8
%
 
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 non-performing assets:
 
March 31,
2018
 
December 31,
2017
 
(in thousands)
Non-accrual loans
$
122,966

 
$
124,749

Loans 90 days or more past due and still accruing
11,676

 
10,010

Total non-performing loans
134,642

 
134,759

Other real estate owned (OREO)
10,744

 
9,823

Total non-performing assets
$
145,386

 
$
144,582



The following tables present past due status and non-accrual loans by portfolio segment and class segment:
 
March 31, 2018
 
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
$
11,606

 
$
1,091

 
$
1,001

 
$
35,183

 
$
36,184

 
$
48,881

 
$
6,283,627

 
$
6,332,508

Commercial - secured
4,048

 
3,607

 
1,935

 
52,336

 
54,271

 
61,926

 
4,092,287

 
4,154,213

Commercial - unsecured
814

 
159

 
10

 
634

 
644

 
1,617

 
143,242

 
144,859

Total commercial - industrial, financial and agricultural
4,862

 
3,766

 
1,945

 
52,970

 
54,915

 
63,543

 
4,235,529

 
4,299,072

Real estate - home equity
6,401

 
2,330

 
3,280

 
8,745

 
12,025

 
20,756

 
1,493,485

 
1,514,241

Real estate - residential mortgage
12,725

 
4,814

 
4,833

 
15,335

 
20,168

 
37,707

 
1,938,817

 
1,976,524

Construction - commercial residential
—

 
—

 
—

 
10,422

 
10,422

 
10,422

 
148,060

 
158,482

Construction - commercial
—

 
—

 
—

 
19

 
19

 
19

 
748,777

 
748,796

Construction - other
—

 
—

 
198

 
292

 
490

 
490

 
68,363

 
68,853

Total real estate - construction
—

 
—

 
198

 
10,733

 
10,931

 
10,931

 
965,200

 
976,131

Consumer - direct
211

 
112

 
54

 
—

 
54

 
377

 
55,681

 
56,058

Consumer - indirect
2,253

 
678

 
193

 
—

 
193

 
3,124

 
267,584

 
270,708

Total consumer
2,464

 
790

 
247

 
—

 
247

 
3,501

 
323,265

 
326,766

Leasing, other and overdrafts
662

 
181

 
172

 
—

 
172

 
1,015

 
270,027

 
271,042

Total
$
38,720

 
$
12,972

 
$
11,676

 
$
122,966

 
$
134,642

 
$
186,334

 
$
15,509,950

 
$
15,696,284

 
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 residential
—

 
439

 
—

 
11,767

 
11,767

 
12,206

 
150,896

 
163,102

Construction - commercial
483

 
—

 
—

 
19

 
19

 
502

 
765,314

 
765,816

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

Total
$
40,709

 
$
20,800

 
$
10,010

 
$
124,749

 
$
134,759

 
$
196,268

 
$
15,571,979

 
$
15,768,247



The following table presents TDRs, by class segment:
 
March 31,
2018
 
December 31,
2017
 
(in thousands)
Real-estate - residential mortgage
$
25,602

 
$
26,016

Real-estate - commercial mortgage
18,181

 
13,959

Real estate - home equity
16,067

 
15,558

Commercial
11,740

 
10,820

Consumer
24

 
26

Total accruing TDRs
71,614

 
66,379

Non-accrual TDRs (1)
24,897

 
29,051

Total TDRs
$
96,511

 
$
95,430

 
(1)
Included in non-accrual loans in the preceding table detailing non-performing assets.



The following table presents TDRs, by class segment and type of concession for loans that were modified during the three months ended March 31, 2018 and 2017:
 
 
Three months ended March 31
 
2018
 
2017
Number of Loans
 
Post-Modification Recorded Investment
 
Number of Loans
 
Post-Modification Recorded Investment
 
(dollars in thousands)
Real estate – residential mortgage:
 
 
 
 
 
 
 
 
Extend maturity without rate concession
—

 
—

 
2

 
337

 
Bankruptcy
1

 
5

 
1

 
178

Real estate - commercial mortgage:
 
 
 
 
 
 
 
 
Extend maturity without rate concession
—

 
—

 
1

 
318

Real estate - home equity:
 
 
 
 
 
 
 
 
Extend maturity without rate concession
17

 
1,276

 
16

 
1,284

 
Bankruptcy
2

 
108

 
7

 
453

Commercial:
 
 
 
 
 
 
 
 
Extend maturity without rate concession
9

 
9,359

 
4

 
3,126

 
 
 
 
 
 
 
 
 
Total
29

 
$
10,748

 
31

 
$
5,696

 
 
 
 
 
 
 
 
 


The following table presents TDRs, by class segment, as of March 31, 2018 and 2017, that were modified in the previous 12 months and had a post-modification payment default during the three months ended March 31, 2018 and 2017. The Corporation defines a payment default as a single missed payment.
 
2018
 
2017
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(dollars in thousands)
Real estate - residential mortgage
5

 
$
332

 
8

 
$
2,006

Real estate - commercial mortgage
1

 
180

 
2

 
430

Real estate - home equity
18

 
1,000

 
14

 
639

Commercial
6

 
526

 
6

 
3,654

Construction
2

 
1,484

 
—

 
—

Total
32

 
$
3,522

 
30

 
$
6,729