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Note 7 - Loans | 3 Months Ended
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Mar. 31, 2013
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 7. Loans Most of the Company’s business activity is with Asian customers located in Southern and Northern California; New York City, New York; Houston and Dallas, Texas; Seattle, Washington; Boston, Massachusetts; Chicago, Illinois; Edison, New Jersey; and Hong Kong. The Company has no specific industry concentration, and generally its loans are collateralized with real property or other pledged collateral of the borrowers. Loans are generally expected to be paid off from the operating profits of the borrowers, refinancing by another lender, or through sale by the borrowers of the secured collateral. The components of loans in the condensed consolidated balance sheets as of March 31, 2013, and December 31, 2012, were as follows:
|  | March 31, 2013 |  |  | December 31, 2012 |
|  | (In thousands) |
Type of Loans: |  |  |  |  |  |
Commercial loans |  | $ | 2,031,789 |  |  | $ | 2,127,107 |
Residential mortgage loans |  |  | 1,183,460 |  |  |  | 1,146,230 |
Commercial mortgage loans |  |  | 3,759,580 |  |  |  | 3,768,452 |
Equity lines |  |  | 191,462 |  |  |  | 193,852 |
Real estate construction loans |  |  | 184,067 |  |  |  | 180,950 |
Installment and other loans |  |  | 13,982 |  |  |  | 12,556 |
Gross loans |  |  | 7,364,340 |  |  |  | 7,429,147 |
Less: |  |  |  |  |  |  |  |
Allowance for loan losses |  |  | (178,692 | ) |  |  | (183,322 | )
Unamortized deferred loan fees |  |  | (10,186 | ) |  |  | (10,238 | )
Total loans, net |  | $ | 7,175,462 |  |  | $ | 7,235,587 |
At March 31, 2013, recorded investment in impaired loans totaled $230.5 million and was comprised of non-accrual loans of $100.3 million, and accruing troubled debt restructured (“TDR”) loans of $130.2 million. At December 31, 2012, recorded investment in impaired loans totaled $248.6 million and was comprised of non-accrual loans of $103.9 million and accruing TDR’s of $144.7 million. For impaired loans, the amounts previously charged off represent 22.1% at March 31, 2013, and 23.2% at December 31, 2012, of the contractual balances for impaired loans. The following table presents the average balance and interest income recognized related to impaired loans for the periods indicated:
|  | Impaired Loans |
|  | Average Recorded Investment |  |  | Interest Income Recognized |
|  | Three months ended March 31, |  |  | Three months ended March 31, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
|  | (In thousands) |
Commercial loans |  | $ | 22,126 |  |  | $ | 45,142 |  |  | $ | 183 |  |  | $ | 257 |
Real estate construction loans |  |  | 42,068 |  |  |  | 66,455 |  |  |  | 66 |  |  |  | 176 |
Commercial mortgage loans |  |  | 162,257 |  |  |  | 184,867 |  |  |  | 1,562 |  |  |  | 1,088 |
Residential mortgage and equity lines |  |  | 17,797 |  |  |  | 17,715 |  |  |  | 84 |  |  |  | 40 |
Total |  | $ | 244,248 |  |  | $ | 314,179 |  |  | $ | 1,895 |  |  | $ | 1,561 |
The following table presents impaired loans and the related allowance for credit losses as of the dates indicated:
|  | Impaired Loans |
|  | March 31, 2013 |  |  | December 31, 2012 |
|  | Unpaid Principal Balance |  |  | Recorded Investment |  |  | Allowance |  |  | Unpaid Principal Balance |  |  | Recorded Investment |  |  | Allowance |
|  | (In thousands) |
With no allocated allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | $ | 14,437 |  |  | $ | 12,294 |  |  | $ | - |  |  | $ | 29,359 |  |  | $ | 18,963 |  |  | $ | - |
Real estate construction loans |  |  | 9,304 |  |  |  | 7,277 |  |  |  | - |  |  |  | 9,304 |  |  |  | 7,277 |  |  |  | - |
Commercial mortgage loans |  |  | 153,872 |  |  |  | 120,563 |  |  |  | - |  |  |  | 189,871 |  |  |  | 152,957 |  |  |  | - |
Residential mortgage and equity lines |  |  | 3,643 |  |  |  | 3,633 |  |  |  | - |  |  |  | 4,303 |  |  |  | 4,229 |  |  |  | - |
Subtotal |  | $ | 181,256 |  |  | $ | 143,767 |  |  | $ | - |  |  | $ | 232,837 |  |  | $ | 183,426 |  |  | $ | - |
With allocated allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | $ | 11,854 |  |  | $ | 7,180 |  |  | $ | 1,717 |  |  | $ | 7,804 |  |  | $ | 4,959 |  |  | $ | 1,467 |
Real estate construction loans |  |  | 54,657 |  |  |  | 34,795 |  |  |  | 8,080 |  |  |  | 54,718 |  |  |  | 34,856 |  |  |  | 8,158 |
Commercial mortgage loans |  |  | 31,407 |  |  |  | 30,187 |  |  |  | 6,242 |  |  |  | 14,163 |  |  |  | 12,928 |  |  |  | 1,336 |
Residential mortgage and equity lines |  |  | 16,704 |  |  |  | 14,615 |  |  |  | 1,318 |  |  |  | 14,264 |  |  |  | 12,428 |  |  |  | 1,222 |
Subtotal |  | $ | 114,622 |  |  | $ | 86,777 |  |  | $ | 17,357 |  |  | $ | 90,949 |  |  | $ | 65,171 |  |  | $ | 12,183 |
Total impaired loans |  | $ | 295,878 |  |  | $ | 230,544 |  |  | $ | 17,357 |  |  | $ | 323,786 |  |  | $ | 248,597 |  |  | $ | 12,183 |
The following table presents the aging of the loan portfolio by type as of March 31, 2013, and as of December 31, 2012:
|  | March 31, 2013 |
|  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater than 90 Days Past Due |  | Non-accrual Loans |  | Total Past Due |  | Loans Not Past Due |  | Total |
Type of Loans: |  | (In thousands) |
Commercial loans |  | $ | 15,766 |  | $ | - |  | $ | 333 |  | $ | 13,192 |  | $ | 29,291 |  | $ | 2,002,498 |  | $ | 2,031,789 |
Real estate construction loans |  |  | 634 |  |  | - |  |  | - |  |  | 36,237 |  |  | 36,871 |  |  | 147,196 |  |  | 184,067 |
Commercial mortgage loans |  |  | 56,343 |  |  | 4,133 |  |  | 467 |  |  | 39,221 |  |  | 100,164 |  |  | 3,659,416 |  |  | 3,759,580 |
Residential mortgage loans |  |  | 11,189 |  |  | 1,134 |  |  | - |  |  | 11,679 |  |  | 24,002 |  |  | 1,350,920 |  |  | 1,374,922 |
Installment and other loans |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 13,982 |  |  | 13,982 |
Total loans |  | $ | 83,932 |  | $ | 5,267 |  | $ | 800 |  | $ | 100,329 |  | $ | 190,328 |  | $ | 7,174,012 |  | $ | 7,364,340 |
|  | December 31, 2012 |
|  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater than 90 Days Past Due |  | Non-accrual Loans |  | Total Past Due |  | Loans Not Past Due |  | Total |
Type of Loans: |  | (In thousands) |
Commercial loans |  | $ | 16,832 |  | $ | 1,610 |  | $ | 630 |  | $ | 19,958 |  | $ | 39,030 |  | $ | 2,088,077 |  | $ | 2,127,107 |
Real estate construction loans |  |  | - |  |  | 1,471 |  |  | - |  |  | 36,299 |  |  | 37,770 |  |  | 143,180 |  |  | 180,950 |
Commercial mortgage loans |  |  | 21,570 |  |  | 3,627 |  |  | - |  |  | 35,704 |  |  | 60,901 |  |  | 3,707,551 |  |  | 3,768,452 |
Residential mortgage loans |  |  | 5,324 |  |  | 1,972 |  |  | - |  |  | 11,941 |  |  | 19,237 |  |  | 1,320,845 |  |  | 1,340,082 |
Installment and other loans |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 12,556 |  |  | 12,556 |
Total loans |  | $ | 43,726 |  | $ | 8,680 |  | $ | 630 |  | $ | 103,902 |  | $ | 156,938 |  | $ | 7,272,209 |  | $ | 7,429,147 |
The determination of the amount of the allowance for credit losses for impaired loans is based on management’s current judgment about the credit quality of the loan portfolio and takes into consideration known relevant internal and external factors that affect collectibility when determining the appropriate level for the allowance for credit losses. The nature of the process by which the Bank determines the appropriate allowance for credit losses requires the exercise of considerable judgment. This allowance evaluation process is also applied to troubled debt restructurings since they are considered to be impaired loans. A troubled debt restructuring (“TDR”) is a formal modification of the terms of a loan when the lender, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower. The concessions may be granted in various forms, including a change in the stated interest rate, a reduction in the loan balance or accrued interest, or an extension of the maturity date that causes significant delay in payment. TDRs on accrual status are comprised of the loans that have, pursuant to the Bank’s policy, performed under the restructured terms and have demonstrated sustained performance under the modified terms for six months before being returned to accrual status. The sustained performance considered by management pursuant to its policy includes the periods prior to the modification if the prior performance met or exceeded the modified terms. This would include cash paid by the borrower prior to the restructure to set up interest reserves. At March 31, 2013, accruing TDRs were $130.2 million and non-accrual TDRs were $49.9 million compared to accruing TDRs of $144.7 million and non-accrual TDRs of $47.7 million at December 31, 2012. The Company allocated specific reserves of $4.7 million to accruing TDRs and $7.6 million to non-accrual TDRs at March 31, 2013, and $1.1 million to accruing TDRs and $7.8 million to non-accrual TDRs at December 31, 2012. The following table presents TDRs that were modified during the first quarter of 2013 and 2012, their specific reserve at March 31, 2013, and charge-offs during the first quarters of 2013 and 2012:
|  | Three months ended March 31, 2013 |  |  | March 31, 2013 |
|  | No. of Contracts |  |  | Pre-Modification Outstanding Recorded Investment |  |  | Post-Modification Outstanding Recorded Investment |  |  | Charge-offs |  |  | Specific Reserve |
|  | (Dollars in thousands) |
Commercial loans |  |  | 4 |  |  |  | 4,007 |  |  |  | 4,007 |  |  | $ | - |  |  | $ | 61 |
Commercial mortgage loans |  |  | 2 |  |  |  | 1,175 |  |  |  | 1,175 |  |  |  | - |  |  |  | 10 |
Residential mortgage and equity lines |  |  | 6 |  |  |  | 1,696 |  |  |  | 1,696 |  |  |  | - |  |  |  | 265 |
Total |  |  | 12 |  |  | $ | 6,878 |  |  | $ | 6,878 |  |  | $ | - |  |  | $ | 336 |
|  | Three months ended March 31, 2012 |  |  |  | March 31, 2012 |
|  | No. of Contracts |  |  | Pre-Modification Outstanding Recorded Investment |  |  | Post-Modification Outstanding Recorded Investment |  |  | Charge-offs |  |  | Specific Reserve |
|  | (Dollars in thousands) |
Commercial loans |  |  | 5 |  |  | $ | 1,988 |  |  | $ | 1,988 |  |  | $ | - |  |  | $ | 68 |
Commercial mortgage loans |  |  | 9 |  |  |  | 26,693 |  |  |  | 23,375 |  |  |  | 3,318 |  |  |  | 268 |
Residential mortgage and equity lines |  |  | 2 |  |  |  | 1,587 |  |  |  | 1,587 |  |  |  | - |  |  |  | - |
Total |  |  | 16 |  |  | $ | 30,268 |  |  | $ | 26,950 |  |  | $ | 3,318 |  |  | $ | 336 |
Modifications of the loan terms during the first quarter of 2013 were in the form of changes in the stated interest rate, and in payment terms to interest only from principal and interest, multiple note structure, and shortening of the maturity date. The length of time for which modifications involving a reduction of the stated interest rate were documented ranged from six months to twelve months from the modification date. Modifications involving a shortening of the maturity date were for periods up to three years from the modification date, adjusted from longer term original maturity dates of over 25 years. We expect that the TDR loans on accruing status as of March 31, 2013, which were all performing in accordance with their restructured terms, will continue to comply with the restructured terms because of the reduced principal or interest payments on these loans. A summary of TDRs by type of concession, and by type of loan as of March 31, 2013, and December 31, 2012, is shown below:
|  | March 31, 2013 |
Accruing TDRs |  | Principal Deferral |  |  | Rate Reduction |  |  | Rate Reduction and Payment Deferral |  |  | Total |
|  |  |  |  | (In thousands) |  |  |  |
Commercial loans |  | $ | 491 |  |  | $ | 2,994 |  |  | $ | 2,797 |  |  | $ | 6,282 |
Real estate construction loans |  |  | - |  |  |  | - |  |  |  | 5,834 |  |  |  | 5,834 |
Commercial mortgage loans |  |  | 27,565 |  |  |  | 16,153 |  |  |  | 67,812 |  |  |  | 111,530 |
Residential mortgage loans |  |  | 1,455 |  |  |  | 1,604 |  |  |  | 3,510 |  |  |  | 6,569 |
Total accruing TDRs |  | $ | 29,511 |  |  | $ | 20,751 |  |  | $ | 79,953 |  |  | $ | 130,215 |
|  | March 31, 2013 |
Non-accrual TDRs |  | Interest Deferral |  | Principal Deferral |  |  | Rate Reduction |  |  | Rate Reduction and Forgiveness of Principal |  |  | Rate Reduction and Payment Deferral |  |  | Total |
|  | (In thousands) |
Commercial loans |  | $ | - |  |  | $ | 2,425 |  |  | $ | - |  |  | $ | 1,475 |  |  | $ | - |  |  | $ | 3,900 |
Real estate construction loans |  |  | - |  |  |  | 16,577 |  |  |  | 9,449 |  |  |  | - |  |  |  | - |  |  |  | 26,026 |
Commercial mortgage loans |  |  | 1,606 |  |  |  | 2,777 |  |  |  | 5,067 |  |  |  | - |  |  |  | 7,088 |  |  |  | 16,538 |
Residential mortgage loans |  |  | 267 |  |  |  | 2,146 |  |  |  | 295 |  |  |  | - |  |  |  | 706 |  |  |  | 3,414 |
Total non-accrual TDRs |  | $ | 1,873 |  |  | $ | 23,925 |  |  | $ | 14,811 |  |  | $ | 1,475 |  |  | $ | 7,794 |  |  | $ | 49,878 |
|  | December 31, 2012 |
Accruing TDRs |  | Principal Deferral |  |  | Rate Reduction |  |  | Rate Reduction and Forgiveness of Principal |  |  | Rate Reduction and Payment Deferral |  |  | Total |
|  |  |  |  | (In thousands) |  |  |  |
Commercial loans |  | $ | 531 |  |  | $ | 3,020 |  |  | $ | - |  |  | $ | 413 |  |  | $ | 3,964 |
Real estate construction loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 5,834 |  |  |  | 5,834 |
Commercial mortgage loans |  |  | 27,003 |  |  |  | 16,656 |  |  |  | 739 |  |  |  | 85,783 |  |  |  | 130,181 |
Residential mortgage loans |  |  | 1,461 |  |  |  | 1,024 |  |  |  | - |  |  |  | 2,231 |  |  |  | 4,716 |
Total accruing TDRs |  | $ | 28,995 |  |  | $ | 20,700 |  |  | $ | 739 |  |  | $ | 94,261 |  |  | $ | 144,695 |
|  | December 31, 2012 |
Non-accrual TDRs |  | Interest Deferral |  | Principal Deferral |  |  | Rate Reduction |  |  | Rate Reduction and Forgiveness of Principal |  |  | Rate Reduction and Payment Deferral |  |  | Total |
|  | (In thousands) |
Commercial loans |  | $ | - |  |  | $ | 912 |  |  | $ | - |  |  | $ | 1,518 |  |  | $ | - |  |  | $ | 2,430 |
Real estate construction loans |  |  | - |  |  |  | 16,767 |  |  |  | 9,579 |  |  |  | - |  |  |  | - |  |  |  | 26,346 |
Commercial mortgage loans |  |  | 1,685 |  |  |  | 2,817 |  |  |  | 5,746 |  |  |  | - |  |  |  | 5,076 |  |  |  | 15,324 |
Residential mortgage loans |  |  | 275 |  |  |  | 2,010 |  |  |  | 586 |  |  |  | - |  |  |  | 760 |  |  |  | 3,631 |
Total non-accrual TDRs |  | $ | 1,960 |  |  | $ | 22,506 |  |  | $ | 15,911 |  |  | $ | 1,518 |  |  | $ | 5,836 |  |  | $ | 47,731 |
The activity within our TDR loans for the periods indicated are shown below:
|  | Three months ended March 31, |
Accruing TDRs |  | 2013 |  |  | 2012 |
|  | (In thousands) |
Beginning balance |  | $ | 144,695 |  |  | $ | 120,016 |
New restructurings |  |  | 4,816 |  |  |  | 21,712 |
Restructured loans restored to accrual status |  |  | 630 |  |  |  | 2,853 |
Payments |  |  | (17,892 | ) |  |  | (1,348 | )
Restructured loans placed on nonaccrual |  |  | (2,034 | ) |  |  | - |
Ending balance |  | $ | 130,215 |  |  | $ | 143,233 |
|  | Three months ended March 31, |
Non-accrual TDRs |  | 2013 |  |  | 2012 |
|  | (In thousands) |
Beginning balance |  | $ | 47,731 |  |  | $ | 50,870 |
New restructurings |  |  | 2,062 |  |  |  | 5,238 |
Restructured loans placed on nonaccrual |  |  | 2,034 |  |  |  | - |
Charge-offs |  |  | (679 | ) |  |  | (4,018 | )
Payments |  |  | (640 | ) |  |  | (27,694 | )
Restructured loans restored to accrual status |  |  | (630 | ) |  |  | (2,853 | )
Ending balance |  | $ | 49,878 |  |  | $ | 21,543 |
A loan is considered to be in payment default once it is 60 to 90 days contractually past due under the modified terms. One land loan of $2.0 million and two commercial loans of $111,000 were modified as TDRs within the previous twelve months and subsequently defaulted as of March 31, 2013, for the three months ended March 31, 2013. Collectively, these three TDRs did not incur any charge-offs within the twelve months ended March 31, 2013. Under the Company’s internal underwriting policy, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification in order to determine whether a borrower is experiencing financial difficulty. As of March 31, 2013, there were no commitments to lend additional funds to those borrowers whose loans have been restructured, were considered impaired, or were on non-accrual status. As part of the on-going monitoring of the credit quality of our loan portfolio, the Company utilizes a risk grading matrix to assign a risk grade to each loan. The risk rating categories can be generally described by the following grouping for non-homogeneous loans:
| ● |  | Pass/Watch – These loans range from minimal credit risk to lower than average, but still acceptable, credit risk.
| ● |  | Special Mention – Borrower is fundamentally sound and loan is currently protected but adverse trends are apparent that, if not corrected, may affect ability to repay. Primary source of loan repayment remains viable but there is increasing reliance on collateral or guarantor support.
| ● |  | Substandard – These loans are inadequately protected by current sound net worth, paying capacity or pledged collateral. Well-defined weaknesses exist that could jeopardize repayment of debt. Loss may not be imminent, but if weaknesses are not corrected, there is a good possibility of some loss.
| ● |  | Doubtful – The possibility of loss is extremely high, but due to identifiable and important pending events (which may strengthen the loan) a loss classification is deferred until the situation is better defined.
| ● |  | Loss – These loans are considered uncollectible and of such little value that to continue to carry the loan as an active asset is no longer warranted.
The following table presents loan portfolio by risk rating as of March 31, 2013, and as of December 31, 2012:
|  | March 31, 2013 |
|  | Pass/Watch |  |  | Special Mention |  |  | Substandard |  |  | Doubtful |  |  | Total |
|  | (In thousands) |
Commercial loans |  | $ | 1,870,832 |  |  | $ | 72,872 |  |  | $ | 82,957 |  |  | $ | 5,128 |  |  | $ | 2,031,789 |
Real estate construction loans |  |  | 120,395 |  |  |  | 17,692 |  |  |  | 37,212 |  |  |  | 8,768 |  |  |  | 184,067 |
Commercial mortgage loans |  |  | 3,360,744 |  |  |  | 148,987 |  |  |  | 249,608 |  |  |  | 241 |  |  |  | 3,759,580 |
Residential mortgage and equity lines |  |  | 1,358,500 |  |  |  | 1,915 |  |  |  | 14,106 |  |  |  | 401 |  |  |  | 1,374,922 |
Installment and other loans |  |  | 13,982 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 13,982 |
Total gross loans |  | $ | 6,724,453 |  |  | $ | 241,466 |  |  | $ | 383,883 |  |  | $ | 14,538 |  |  | $ | 7,364,340 |
|  | December 31, 2012 |
|  | Pass/Watch |  |  | Special Mention |  |  | Substandard |  |  | Doubtful |  |  | Total |
|  | (In thousands) |
Commercial loans |  | $ | 1,944,989 |  |  | $ | 76,776 |  |  | $ | 94,077 |  |  | $ | 11,265 |  |  | $ | 2,127,107 |
Real estate construction loans |  |  | 109,269 |  |  |  | 18,000 |  |  |  | 45,171 |  |  |  | 8,510 |  |  |  | 180,950 |
Commercial mortgage loans |  |  | 3,344,783 |  |  |  | 162,455 |  |  |  | 261,214 |  |  |  | - |  |  |  | 3,768,452 |
Residential mortgage and equity lines |  |  | 1,322,768 |  |  |  | 816 |  |  |  | 16,084 |  |  |  | 414 |  |  |  | 1,340,082 |
Installment and other loans |  |  | 12,556 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 12,556 |
Total gross loans |  | $ | 6,734,365 |  |  | $ | 258,047 |  |  | $ | 416,546 |  |  | $ | 20,189 |  |  | $ | 7,429,147 |
The allowance for loan losses and the reserve for off-balance sheet credit commitments are significant estimates that can and do change based on management’s process in analyzing the loan portfolio and on management’s assumptions about specific borrowers, underlying collateral, and applicable economic and environmental conditions, among other factors. The following table presents the balance in the allowance for loan losses by portfolio segment and based on impairment method as of March 31, 2013, and as of December 31, 2012.
|  | Commercial Loans |  |  | Real Estate Construction Loans |  |  | Commercial Mortgage Loans |  |  | Residential Mortgage Loans and Equity Lines |  |  | Installment and Other Loans |  |  | Total |
|  | (In thousands) |
March 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance |  | $ | 1,717 |  |  | $ | 8,080 |  |  | $ | 6,242 |  |  | $ | 1,318 |  |  | $ | - |  |  | $ | 17,357 |
Balance |  | $ | 19,474 |  |  | $ | 42,071 |  |  | $ | 150,750 |  |  | $ | 18,249 |  |  | $ | - |  |  | $ | 230,544 |
Loans collectively evaluated for impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance |  | $ | 59,339 |  |  | $ | 12,617 |  |  | $ | 78,574 |  |  | $ | 10,773 |  |  | $ | 32 |  |  | $ | 161,335 |
Balance |  | $ | 2,012,315 |  |  | $ | 141,996 |  |  | $ | 3,608,830 |  |  | $ | 1,356,673 |  |  | $ | 13,982 |  |  | $ | 7,133,796 |
Total allowance |  | $ | 61,056 |  |  | $ | 20,697 |  |  | $ | 84,816 |  |  | $ | 12,091 |  |  | $ | 32 |  |  | $ | 178,692 |
Total balance |  | $ | 2,031,789 |  |  | $ | 184,067 |  |  | $ | 3,759,580 |  |  | $ | 1,374,922 |  |  | $ | 13,982 |  |  | $ | 7,364,340 |
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance |  | $ | 1,467 |  |  | $ | 8,158 |  |  | $ | 1,336 |  |  | $ | 1,222 |  |  | $ | - |  |  | $ | 12,183 |
Balance |  | $ | 23,922 |  |  | $ | 42,133 |  |  | $ | 165,885 |  |  | $ | 16,657 |  |  | $ | - |  |  | $ | 248,597 |
Loans collectively evaluated for impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance |  | $ | 64,634 |  |  | $ | 14,859 |  |  | $ | 81,137 |  |  | $ | 10,481 |  |  | $ | 28 |  |  | $ | 171,139 |
Balance |  | $ | 2,103,185 |  |  | $ | 138,817 |  |  | $ | 3,602,567 |  |  | $ | 1,323,425 |  |  | $ | 12,556 |  |  | $ | 7,180,550 |
Total allowance |  | $ | 66,101 |  |  | $ | 23,017 |  |  | $ | 82,473 |  |  | $ | 11,703 |  |  | $ | 28 |  |  | $ | 183,322 |
Total balance |  | $ | 2,127,107 |  |  | $ | 180,950 |  |  | $ | 3,768,452 |  |  | $ | 1,340,082 |  |  | $ | 12,556 |  |  | $ | 7,429,147 |
The following table details activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2013, and March 31, 2012. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.
|  | Commercial Loans |  |  | Real Estate Construction Loans |  |  | Commercial Mortgage Loans |  |  | Residential Mortgage and Equity Lines |  |  | Installment and Other Loans |  |  | Total |
|  | (In thousands) |
2013 Beginning Balance |  | $ | 66,101 |  |  | $ | 23,017 |  |  | $ | 82,473 |  |  | $ | 11,703 |  |  | $ | 28 |  |  | $ | 183,322 |
Provision/(credit) for possible credit losses |  |  | (3,310 | ) |  |  | (2,399 | ) |  |  | 2,968 |  |  |  | 795 |  |  |  | 4 |  |  |  | (1,942 | )
Charge-offs |  |  | (2,690 | ) |  |  | - |  |  |  | (990 | ) |  |  | (410 | ) |  |  | - |  |  |  | (4,090 | )
Recoveries |  |  | 955 |  |  |  | 79 |  |  |  | 365 |  |  |  | 3 |  |  |  | - |  |  |  | 1,402 |
Net (charge-offs)/recoveries |  |  | (1,735 | ) |  |  | 79 |  |  |  | (625 | ) |  |  | (407 | ) |  |  | - |  |  |  | (2,688 | )
March 31, 2013 Ending Balance |  | $ | 61,056 |  |  | $ | 20,697 |  |  | $ | 84,816 |  |  | $ | 12,091 |  |  | $ | 32 |  |  | $ | 178,692 |
Reserve for impaired loans |  | $ | 1,717 |  |  | $ | 8,080 |  |  | $ | 6,242 |  |  | $ | 1,318 |  |  | $ | - |  |  | $ | 17,357 |
Reserve for non-impaired loans |  | $ | 59,339 |  |  | $ | 12,617 |  |  | $ | 78,574 |  |  | $ | 10,773 |  |  | $ | 32 |  |  | $ | 161,335 |
Reserve for off-balance sheet credit commitments |  | $ | 837 |  |  | $ | 311 |  |  | $ | 2,122 |  |  | $ | 33 |  |  | $ | 2 |  |  | $ | 3,305 |
2012 Beginning Balance |  | $ | 65,658 |  |  | $ | 21,749 |  |  | $ | 108,021 |  |  | $ | 10,795 |  |  | $ | 57 |  |  | $ | 206,280 |
Provision/(credit) for possible credit losses |  |  | (1,041 | ) |  |  | (6,439 | ) |  |  | 4,318 |  |  |  | (260 | ) |  |  | 15 |  |  |  | (3,407 | )
Charge-offs |  |  | (4,959 | ) |  |  | (875 | ) |  |  | (8,222 | ) |  |  | (779 | ) |  |  | (25 | ) |  |  | (14,860 | )
Recoveries |  |  | 746 |  |  |  | 3,557 |  |  |  | 2,058 |  |  |  | 366 |  |  |  | 3 |  |  |  | 6,730 |
Net (charge-offs)/recoveries |  |  | (4,213 | ) |  |  | 2,682 |  |  |  | (6,164 | ) |  |  | (413 | ) |  |  | (22 | ) |  |  | (8,130 | )
March 31, 2012 Ending Balance |  | $ | 60,404 |  |  | $ | 17,992 |  |  | $ | 106,175 |  |  | $ | 10,122 |  |  | $ | 50 |  |  | $ | 194,743 |
Reserve for impaired loans |  | $ | 1,272 |  |  | $ | - |  |  | $ | 2,529 |  |  | $ | 1,806 |  |  | $ | - |  |  | $ | 5,607 |
Reserve for non-impaired loans |  | $ | 59,119 |  |  | $ | 17,993 |  |  | $ | 103,657 |  |  | $ | 8,317 |  |  | $ | 50 |  |  | $ | 189,136 |
Reserve for off-balance sheet credit commitments |  | $ | 720 |  |  | $ | 635 |  |  | $ | 84 |  |  | $ | 34 |  |  | $ | 2 |  |  | $ | 1,475 |

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 4 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5074-111524 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5162-111524 Reference 5: http://www.xbrl.org/2003/role/presentationRef -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 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 01-6 -Paragraph 13 -Subparagraph d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5066-111524 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 7 -Article 9 + Details
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