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Loans held for sale | 9 Months Ended
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Sep. 30, 2020
Receivables [Abstract] |
Loans held for sale | Loans held for sale: Loans held for sale are recorded at fair value, and consist primarily of residential mortgage loans originated to be sold in the secondary market. During the three months ended September 30, 2020, the Company acquired a portfolio of commercial loans, including shared national credits and institutional healthcare loans, as part of the Franklin transaction that the Company has elected to account for as held for sale. As such, these loans are excluded from the allowance for credit losses. Instead, the loans are recorded at fair value with subsequent changes to fair value recognized in earnings. During the three months ended September 30, 2020, the Company recorded gains of $20,378 in 'other noninterest income' related to changes in fair value of this portfolio. The following table summarizes loans held for sale, at fair value, as of the periods presented:
|  | September 30, |  | December 31,
|  | 2020 |  | 2019
Commercial and industrial |  | $ | 241,256 |  |  | $ | —
Residential real estate: |  |  |  |
1-4 family mortgage |  | 610,695 |  |  | 262,518 |
Total loans held for sale, at fair value |  | $ | 851,951 |  |  | $ | 262,518 |

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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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- References No definition available. + Details
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