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Note 8 - Loans | 3 Months Ended
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Mar. 31, 2020
Notes to Financial Statements |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8.Loans Most of the Company’s business activities are with customers located in the high-density Asian-populated areas of Southern and Northern California; New York City, New York; Dallas and Houston, Texas; Seattle, Washington; Boston, Massachusetts; Chicago, Illinois; Edison, New Jersey; Rockville, Maryland; and Las Vegas, Nevada. The Company also has loan customers in Hong Kong. The Company has no specific industry concentration, and generally its loans are secured by real property or other collateral of the borrowers. The Company generally expects loans to be paid off from the operating profits of the borrowers, from refinancing by other lenders, or through sale by the borrowers of the secured collateral. The types of loans in the Company’s Condensed Consolidated Balance Sheets as of March 31, 2020, and December 31, 2019, were as follows:
|  | March 31, 2020 |  |  | December 31, 2019 |
|  | (In thousands) |
Commercial loans |  | $ | 2,973,078 |  |  | $ | 2,778,744 |
Residential mortgage loans |  |  | 4,173,876 |  |  |  | 4,088,586 |
Commercial mortgage loans |  |  | 7,422,585 |  |  |  | 7,275,262 |
Real estate construction loans |  |  | 577,240 |  |  |  | 579,864 |
Equity lines |  |  | 385,317 |  |  |  | 347,975 |
Installment and other loans |  |  | 2,116 |  |  |  | 5,050 |
Gross loans |  | $ | 15,534,212 |  |  | $ | 15,075,481 |
Allowance for loan losses |  |  | (148,273 | ) |  |  | (123,224 | )
Unamortized deferred loan fees, net |  |  | (277 | ) |  |  | (626 | )
Total loans, net |  | $ | 15,385,662 |  |  | $ | 14,951,631 |
As of March 31, 2020, recorded investment in impaired loans totaled $88.1 million and was comprised of non-accrual loans of $53.7 million and accruing troubled debt restructured loans (“TDRs”) of $34.4 million. As of December 31, 2019, recorded investment in impaired loans totaled $75.9 million and was comprised of non-accrual loans of $40.5 million and accruing TDRs of $35.4 million. For impaired loans, the amounts previously charged off represent 0.3% and 2.1% of the contractual balances for impaired loans as of March 31, 2020 and December 31, 2019, respectively. The following table presents the average recorded investment and interest income recognized on impaired loans for the periods indicated:
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
|  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Average Recorded Investment |  |  | Interest Income Recognized |
|  | (In thousands) |
Commercial loans |  | $ | 28,316 |  |  | $ | 70 |  |  | $ | 37,936 |  |  | $ | 256 |
Real estate construction loans |  |  | 4,506 |  |  |  | 98 |  |  |  | 4,815 |  |  |  | — |
Commercial mortgage loans |  |  | 36,040 |  |  |  | 459 |  |  |  | 59,070 |  |  |  | 603 |
Residential mortgage loans and equity lines |  |  | 11,371 |  |  |  | 71 |  |  |  | 13,264 |  |  |  | 88 |
Total impaired loans |  | $ | 80,233 |  |  | $ | 698 |  |  | $ | 115,085 |  |  | $ | 947 |
The following table presents impaired loans and the related allowance for loan losses as of the dates indicated:
|  | March 31, 2020 |  |  | December 31, 2019 |
|  | Unpaid Principal Balance |  |  | Recorded Investment |  |  | Allowance |  |  | Unpaid Principal Balance |  |  | Recorded Investment |  |  | Allowance |
|  | (In thousands) |
With no allocated allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | $ | 28,685 |  |  | $ | 25,991 |  |  | $ | — |  |  | $ | 20,134 |  |  | $ | 15,857 |  |  | $ | — |
Real estate construction loans |  |  | 5,776 |  |  |  | 4,482 |  |  |  | — |  |  |  | 5,776 |  |  |  | 4,580 |  |  |  | — |
Commercial mortgage loans |  |  | 16,559 |  |  |  | 16,223 |  |  |  | — |  |  |  | 9,234 |  |  |  | 9,030 |  |  |  | — |
Residential mortgage loans and equity lines |  |  | 6,046 |  |  |  | 6,024 |  |  |  | — |  |  |  | 6,171 |  |  |  | 6,073 |  |  |  | — |
Subtotal |  | $ | 57,066 |  |  | $ | 52,720 |  |  | $ | — |  |  | $ | 41,315 |  |  | $ | 35,540 |  |  | $ | — |
With allocated allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | $ | 9,223 |  |  | $ | 9,152 |  |  | $ | 2,827 |  |  | $ | 8,769 |  |  | $ | 8,739 |  |  | $ | 2,543 |
Commercial mortgage loans |  |  | 20,513 |  |  |  | 20,420 |  |  |  | 405 |  |  |  | 26,117 |  |  |  | 26,040 |  |  |  | 473 |
Residential mortgage loans and equity lines |  |  | 7,018 |  |  |  | 5,805 |  |  |  | 219 |  |  |  | 6,740 |  |  |  | 5,540 |  |  |  | 220 |
Subtotal |  | $ | 36,754 |  |  | $ | 35,377 |  |  | $ | 3,451 |  |  | $ | 41,626 |  |  | $ | 40,319 |  |  | $ | 3,236 |
Total impaired loans |  | $ | 93,820 |  |  | $ | 88,097 |  |  | $ | 3,451 |  |  | $ | 82,941 |  |  | $ | 75,859 |  |  | $ | 3,236 |
The following tables present the aging of the loan portfolio by type as of March 31, 2020, and as of December 31, 2019:
|  | March 31, 2020 |
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days or More Past Due |  |  | Non-accrual Loans |  |  | Total Past Due |  |  | Loans Not Past Due |  |  | Total |
|  | (In thousands) |
Commercial loans |  | $ | 26,282 |  |  | $ | 7,433 |  |  | $ | 1,199 |  |  | $ | 30,443 |  |  | $ | 65,357 |  |  | $ | 2,907,721 |  |  | $ | 2,973,078 |
Real estate construction loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,482 |  |  |  | 4,482 |  |  |  | 572,758 |  |  |  | 577,240 |
Commercial mortgage loans |  |  | 17,018 |  |  |  | 683 |  |  |  | 3,332 |  |  |  | 11,859 |  |  |  | 32,892 |  |  |  | 7,389,693 |  |  |  | 7,422,585 |
Residential mortgage loans and equity lines |  |  | 39,946 |  |  |  | — |  |  |  | — |  |  |  | 6,949 |  |  |  | 46,895 |  |  |  | 4,512,298 |  |  |  | 4,559,193 |
Installment and other loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,116 |  |  |  | 2,116 |
Total loans |  | $ | 83,246 |  |  | $ | 8,116 |  |  | $ | 4,531 |  |  | $ | 53,733 |  |  | $ | 149,626 |  |  | $ | 15,384,586 |  |  | $ | 15,534,212 |
|  | December 31, 2019 |
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days or More Past Due |  |  | Non-accrual Loans |  |  | Total Past Due |  |  | Loans Not Past Due |  |  | Total |
|  | (In thousands) |
Commercial loans |  | $ | 24,681 |  |  | $ | 9,954 |  |  | $ | 6,409 |  |  | $ | 19,381 |  |  | $ | 60,425 |  |  | $ | 2,718,319 |  |  | $ | 2,778,744 |
Real estate construction loans |  |  | 5,846 |  |  |  | 6,753 |  |  |  | — |  |  |  | 4,580 |  |  |  | 17,179 |  |  |  | 562,685 |  |  |  | 579,864 |
Commercial mortgage loans |  |  | 7,694 |  |  |  | 2,609 |  |  |  | — |  |  |  | 9,928 |  |  |  | 20,231 |  |  |  | 7,255,031 |  |  |  | 7,275,262 |
Residential mortgage loans and equity lines |  |  | 26,028 |  |  |  | 965 |  |  |  | — |  |  |  | 6,634 |  |  |  | 33,627 |  |  |  | 4,402,934 |  |  |  | 4,436,561 |
Installment and other loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,050 |  |  |  | 5,050 |
Total loans |  | $ | 64,249 |  |  | $ | 20,281 |  |  | $ | 6,409 |  |  | $ | 40,523 |  |  | $ | 131,462 |  |  | $ | 14,944,019 |  |  | $ | 15,075,481 |
The determination of the amount of the allowance for loan 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 collectability when determining the appropriate level for the allowance for loan losses. The nature of the process by which the Bank determines the appropriate allowance for loan losses requires the exercise of considerable judgment. This allowance evaluation process is also applied to TDRs since they are considered to be impaired loans. 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, market and environmental conditions, among other factors. Although the Company took steps to incorporate the impact of the COVID-19 pandemic on the economic forecast and other factors utilized to determine the allowance for loan losses, if the economic forecast or other factors worsen relative to the assumptions the Company utilized, the allowance for loan losses will increase accordingly in future periods. A 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. As of March 31, 2020, accruing TDRs were $34.4 million and non-accrual TDRs were $17.9 million compared to accruing TDRs of $35.3 million and non-accrual TDRs of $18.0 million as of December 31, 2019. The Company allocated specific reserves of $1.0 million to accruing TDRs and $2.2 million to non-accrual TDRs as of March 31, 2020, and $822 thousand to accruing TDRs and $2.2 million to non-accrual TDRs as of December 31, 2019. The following tables set forth TDRs that were modified during the three months ended March 31, 2020 and 2019, their specific reserves as of March 31, 2020 and 2019, and charge-offs for the three months ended March 31, 2020 and 2019:
|  | Three Months Ended March 31, 2020 |  |  | March 31, 2020 |
|  | No. of Contracts |  |  | Pre-Modification Outstanding Recorded Investment |  |  | Post-Modification Outstanding Recorded Investment |  |  | Charge-offs |  |  | Specific Reserve |
|  | (In thousands) |
Commercial loans |  |  | 2 |  |  | $ | 534 |  |  | $ | 534 |  |  | $ | — |  |  | $ | — |
Total |  |  | 2 |  |  | $ | 534 |  |  | $ | 534 |  |  | $ | — |  |  | $ | — |
|  | Three Months Ended March 31, 2019 |  |  | March 31, 2019 |
|  | No. of Contracts |  |  | Pre-Modification Outstanding Recorded Investment |  |  | Post-Modification Outstanding Recorded Investment |  |  | Charge-offs |  |  | Specific Reserve |
|  | (In thousands) |
Commercial loans |  |  | 1 |  |  | $ | 1,948 |  |  | $ | 1,948 |  |  | $ | — |  |  | $ | — |
Total |  |  | 1 |  |  | $ | 1,948 |  |  | $ | 1,948 |  |  | $ | — |  |  | $ | — |
Modifications of the loan terms in the three months ended March 31, 2020 were in the form of extensions of maturity dates, which ranged generally from three to twelve months from the modification date. We expect that the TDRs on accruing status as of March 31, 2020, 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, 2020, and December 31, 2019, is set forth in the table below:
|  | March 31, 2020 |
|  | Payment Deferral |  |  | Rate Reduction |  |  | Rate Reduction and Payment Deferral |  |  | Total |
|  | (In thousands) |
Accruing TDRs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | $ | 4,700 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,700 |
Commercial mortgage loans |  |  | 459 |  |  |  | 5,707 |  |  |  | 18,618 |  |  |  | 24,784 |
Residential mortgage loans |  |  | 2,453 |  |  |  | 306 |  |  |  | 2,121 |  |  |  | 4,880 |
Total accruing TDRs |  | $ | 7,612 |  |  | $ | 6,013 |  |  | $ | 20,739 |  |  | $ | 34,364 |
|  | March 31, 2020 |
|  | Payment Deferral |  |  | Rate Reduction |  |  | Rate Reduction and Payment Deferral |  |  | Total |
|  | (In thousands) |
Non-accrual TDRs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | $ | 16,561 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,561 |
Residential mortgage loans |  |  | 1,199 |  |  |  | — |  |  |  | 129 |  |  |  | 1,328 |
Total non-accrual TDRs |  | $ | 17,760 |  |  | $ | — |  |  | $ | 129 |  |  | $ | 17,889 |
|  | December 31, 2019 |
|  | Payment Deferral |  |  | Rate Reduction |  |  | Rate Reduction and Payment Deferral |  |  | Total |
|  | (In thousands) |
Accruing TDRs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | $ | 5,215 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,215 |
Commercial mortgage loans |  |  | 615 |  |  |  | 5,748 |  |  |  | 18,779 |  |  |  | 25,142 |
Residential mortgage loans |  |  | 2,525 |  |  |  | 311 |  |  |  | 2,143 |  |  |  | 4,979 |
Total accruing TDRs |  | $ | 8,355 |  |  | $ | 6,059 |  |  | $ | 20,922 |  |  | $ | 35,336 |
|  | December 31, 2019 |
|  | Payment Deferral |  |  | Rate Reduction |  |  | Rate Reduction and Payment Deferral |  |  | Total |
|  | (In thousands) |
Non-accrual TDRs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial loans |  | $ | 16,692 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,692 |
Commercial mortgage loans |  |  | 1,220 |  |  |  | — |  |  |  | 136 |  |  |  | 1,356 |
Total non-accrual TDRs |  | $ | 17,912 |  |  | $ | — |  |  | $ | 136 |  |  | $ | 18,048 |
The activity within TDRs for the periods indicated is set forth below:
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
|  | (In thousands) |
Accruing TDRs |  |  |  |  |  |  |  |
Beginning balance |  | $ | 35,336 |  |  | $ | 65,071 |
New restructurings |  |  | 534 |  |  |  | 1,948 |
Payments |  |  | (1,506 | ) |  |  | (4,071 | )
Ending balance |  | $ | 34,364 |  |  | $ | 62,948 |
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
|  | (In thousands) |
Non-accrual TDRs |  |  |  |  |  |  |  |
Beginning balance |  | $ | 18,048 |  |  | $ | 24,189 |
Charge-offs |  |  | — |  |  |  | (407 | )
Payments |  |  | (159 | ) |  |  | (481 | )
Ending balance |  | $ | 17,889 |  |  | $ | 23,301 |
The Company considers a loan to be in payment default once it is 60 to 90 days contractually past due under the modified terms. The Company did not have any loans that were modified as a TDR during the previous twelve months and which had subsequently defaulted as of March 31, 2020. 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, 2020, there were no commitments to lend additional funds to those borrowers whose loans had been restructured, were considered impaired, or were on non-accrual status. The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), signed into law on March 27, 2020, permits financial institutions to suspend requirements under GAAP for loan modifications to borrowers affected by COVID-19 that would otherwise be characterized as TDRs and suspend any determination related thereto if (i) the loan modification is made between March 1, 2020 and the earlier of December 31, 2020 or 60 days after the end of the coronavirus emergency declaration and (ii) the applicable loan was not more than 30 days past due as of December 31, 2019. In addition, federal bank regulatory authorities have issued guidance to encourage financial institutions to make loan modifications for borrowers affected by COVID-19 and have assured financial institutions that they will neither receive supervisory criticism for such prudent loan modifications, nor be required by examiners to automatically categorize COVID-19-related loan modifications as TDRs. The Company is applying this guidance to qualifying loan modifications. 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 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 tables set forth the loan portfolio by risk rating as of March 31, 2020 and December 31, 2019:
|  | March 31, 2020 |
|  | Pass/Watch |  |  | Special Mention |  |  | Substandard |  |  | Doubtful |  |  | Total |
|  | (In thousands) |
Commercial loans |  | $ | 2,726,364 |  |  | $ | 164,339 |  |  | $ | 82,375 |  |  | $ | — |  |  | $ | 2,973,078 |
Real estate construction loans |  |  | 463,971 |  |  |  | 108,787 |  |  |  | 4,482 |  |  |  | — |  |  |  | 577,240 |
Commercial mortgage loans |  |  | 7,178,261 |  |  |  | 158,354 |  |  |  | 85,970 |  |  |  | — |  |  |  | 7,422,585 |
Residential mortgage loans and equity lines |  |  | 4,544,015 |  |  |  | 5,916 |  |  |  | 9,262 |  |  |  | — |  |  |  | 4,559,193 |
Installment and other loans |  |  | 2,116 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,116 |
Total gross loans |  | $ | 14,914,727 |  |  | $ | 437,396 |  |  | $ | 182,089 |  |  | $ | — |  |  | $ | 15,534,212 |
|  | December 31, 2019 |
|  | Pass/Watch |  |  | Special Mention |  |  | Substandard |  |  | Doubtful |  |  | Total |
|  | (In thousands) |
Commercial loans |  | $ | 2,528,944 |  |  | $ | 166,016 |  |  | $ | 83,784 |  |  | $ | — |  |  | $ | 2,778,744 |
Real estate construction loans |  |  | 461,597 |  |  |  | 113,687 |  |  |  | 4,580 |  |  |  | — |  |  |  | 579,864 |
Commercial mortgage loans |  |  | 6,992,933 |  |  |  | 196,454 |  |  |  | 85,875 |  |  |  | — |  |  |  | 7,275,262 |
Residential mortgage loans and equity lines |  |  | 4,427,205 |  |  |  | 914 |  |  |  | 8,442 |  |  |  | — |  |  |  | 4,436,561 |
Installment and other loans |  |  | 5,050 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,050 |
Total gross loans |  | $ | 14,415,729 |  |  | $ | 477,071 |  |  | $ | 182,681 |  |  | $ | — |  |  | $ | 15,075,481 |
The following tables set forth the balance in the allowance for loan losses by portfolio segment and based on impairment method as of March 31, 2020 and December 31, 2019:
|  | March 31, 2020 |
|  |  |  |  |  | Real Estate |  |  | Commercial |  |  | Residential |  |  | Installment |  |  |  |  |
|  | Commercial |  |  | Construction |  |  | Mortgage |  |  | Mortgage Loans |  |  | and |  |  |  |  |
|  | Loans |  |  | Loans |  |  | Loans |  |  | and Equity Lines |  |  | Other Loans |  |  | Total |
|  | (In thousands) |
Loans individually evaluated for impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance |  | $ | 2,827 |  |  | $ | — |  |  | $ | 405 |  |  | $ | 219 |  |  | $ | — |  |  | $ | 3,451 |
Balance |  | $ | 35,143 |  |  | $ | 4,482 |  |  | $ | 36,643 |  |  | $ | 11,829 |  |  | $ | — |  |  | $ | 88,097 |
Loans collectively evaluated for impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance |  | $ | 64,972 |  |  | $ | 23,222 |  |  | $ | 39,481 |  |  | $ | 17,147 |  |  | $ | — |  |  | $ | 144,822 |
Balance |  | $ | 2,937,935 |  |  | $ | 572,758 |  |  | $ | 7,385,942 |  |  | $ | 4,547,364 |  |  | $ | 2,116 |  |  | $ | 15,446,115 |
Total allowance |  | $ | 67,799 |  |  | $ | 23,222 |  |  | $ | 39,886 |  |  | $ | 17,366 |  |  | $ | — |  |  | $ | 148,273 |
Total balance |  | $ | 2,973,078 |  |  | $ | 577,240 |  |  | $ | 7,422,585 |  |  | $ | 4,559,193 |  |  | $ | 2,116 |  |  | $ | 15,534,212 |
|  | December 31, 2019 |
|  |  |  |  |  | Real Estate |  |  | Commercial |  |  | Residential |  |  | Installment |  |  |  |  |
|  | Commercial |  |  | Construction |  |  | Mortgage |  |  | Mortgage Loans |  |  | and |  |  |  |  |
|  | Loans |  |  | Loans |  |  | Loans |  |  | and Equity Lines |  |  | Other Loans |  |  | Total |
|  | (In thousands) |
Loans individually evaluated for impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance |  | $ | 2,543 |  |  | $ | — |  |  | $ | 473 |  |  | $ | 220 |  |  | $ | — |  |  | $ | 3,236 |
Balance |  | $ | 24,596 |  |  | $ | 4,580 |  |  | $ | 35,070 |  |  | $ | 11,613 |  |  | $ | — |  |  | $ | 75,859 |
Loans collectively evaluated for impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance |  | $ | 54,478 |  |  | $ | 19,474 |  |  | $ | 33,129 |  |  | $ | 12,888 |  |  | $ | 19 |  |  | $ | 119,988 |
Balance |  | $ | 2,754,148 |  |  | $ | 575,284 |  |  | $ | 7,240,192 |  |  | $ | 4,424,948 |  |  | $ | 5,050 |  |  | $ | 14,999,622 |
Total allowance |  | $ | 57,021 |  |  | $ | 19,474 |  |  | $ | 33,602 |  |  | $ | 13,108 |  |  | $ | 19 |  |  | $ | 123,224 |
Total balance |  | $ | 2,778,744 |  |  | $ | 579,864 |  |  | $ | 7,275,262 |  |  | $ | 4,436,561 |  |  | $ | 5,050 |  |  | $ | 15,075,481 |
The following tables set forth activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2020, and March 31, 2019. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.
|  |  |  |  |  |  |  |  |  |  |  |  |  | Residential |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Real Estate |  |  | Commercial |  |  | Mortgage Loans |  |  | Installment |  |  |  |  |
|  | Commercial |  |  | Construction |  |  | Mortgage |  |  | and |  |  | and Other |  |  |  |  |
|  | Loans |  |  | Loans |  |  | Loans |  |  | Equity Lines |  |  | Loans |  |  | Total |
|  | (In thousands) |
2020 Beginning Balance |  | $ | 57,021 |  |  | $ | 19,474 |  |  | $ | 33,602 |  |  | $ | 13,108 |  |  | $ | 19 |  |  | $ | 123,224 |
Provision/(reversal) for possible credit losses |  |  | 10,891 |  |  |  | 3,748 |  |  |  | 6,129 |  |  |  | 4,251 |  |  |  | (19 | ) |  |  | 25,000 |
Charge-offs |  |  | (1,321 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,321 | )
Recoveries |  |  | 1,208 |  |  |  | — |  |  |  | 155 |  |  |  | 7 |  |  |  | — |  |  |  | 1,370 |
Net (charge-offs)/recoveries |  |  | (113 | ) |  |  | — |  |  |  | 155 |  |  |  | 7 |  |  |  | — |  |  |  | 49 |
March 31, 2020 Ending Balance |  | $ | 67,799 |  |  | $ | 23,222 |  |  | $ | 39,886 |  |  | $ | 17,366 |  |  | $ | — |  |  | $ | 148,273 |
Reserve for impaired loans |  | $ | 2,827 |  |  | $ | — |  |  | $ | 405 |  |  | $ | 219 |  |  | $ | — |  |  | $ | 3,451 |
Reserve for non-impaired loans |  | $ | 64,972 |  |  | $ | 23,222 |  |  | $ | 39,481 |  |  | $ | 17,147 |  |  | $ | — |  |  | $ | 144,822 |
Reserve for off-balance sheet credit commitments |  | $ | 1,296 |  |  | $ | 1,233 |  |  | $ | 177 |  |  | $ | 304 |  |  | $ | 3 |  |  | $ | 3,013 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Residential |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Real Estate |  |  | Commercial |  |  | Mortgage Loans |  |  | Installment |  |  |  |  |
|  | Commercial |  |  | Construction |  |  | Mortgage |  |  | and |  |  | and Other |  |  |  |  |
|  | Loans |  |  | Loans |  |  | Loans |  |  | Equity Lines |  |  | Loans |  |  | Total |
|  | (In thousands) |
2019 Beginning Balance |  | $ | 54,978 |  |  | $ | 19,626 |  |  | $ | 33,487 |  |  | $ | 14,282 |  |  | $ | 18 |  |  | $ | 122,391 |
Provision/(reversal) for possible credit losses |  |  | 962 |  |  |  | 53 |  |  |  | (566 | ) |  |  | (465 | ) |  |  | 16 |  |  |  | — |
Charge-offs |  |  | (1,231 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,231 | )
Recoveries |  |  | 41 |  |  |  | 1,044 |  |  |  | 152 |  |  |  | 158 |  |  |  | — |  |  |  | 1,395 |
Net (charge-offs)/recoveries |  |  | (1,190 | ) |  |  | 1,044 |  |  |  | 152 |  |  |  | 158 |  |  |  | — |  |  |  | 164 |
March 31, 2019 Ending Balance |  | $ | 54,750 |  |  | $ | 20,723 |  |  | $ | 33,073 |  |  | $ | 13,975 |  |  | $ | 34 |  |  | $ | 122,555 |
Reserve for impaired loans |  | $ | 498 |  |  | $ | — |  |  | $ | 667 |  |  | $ | 249 |  |  | $ | — |  |  | $ | 1,414 |
Reserve for non-impaired loans |  | $ | 54,252 |  |  | $ | 20,723 |  |  | $ | 32,406 |  |  | $ | 13,726 |  |  | $ | 34 |  |  | $ | 121,141 |
Reserve for off-balance sheet credit commitments |  | $ | 1,759 |  |  | $ | 1,668 |  |  | $ | 146 |  |  | $ | 275 |  |  | $ | 2 |  |  | $ | 3,850 |

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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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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