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Loans and Lease Finance Receivables and Allowance for Loan Losses (Tables) | 3 Months Ended
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Mar. 31, 2020
Receivables [Abstract] |
Summary of Components of Loans and Lease Finance Receivables, Excluding PCI Loans | The following table provides a summary of total loans and lease finance receivables by type.
|  | March 31, 2020 |  |  | December 31, 2019 |
|  | (Dollars in thousands) |
Commercial and industrial |  | $ | 960,761 |  |  | $ | 935,127 |
SBA |  |  | 313,071 |  |  |  | 305,008 |
Real estate: |  |  |  |  |  |  |  |
Commercial real estate |  |  | 5,347,925 |  |  |  | 5,374,617 |
Construction |  |  | 128,045 |  |  |  | 116,925 |
SFR mortgage |  |  | 278,743 |  |  |  | 283,468 |
Dairy & livestock and agribusiness |  |  | 272,114 |  |  |  | 383,709 |
Municipal lease finance receivables |  |  | 51,287 |  |  |  | 53,146 |
Consumer and other loans |  |  | 114,206 |  |  |  | 116,319 |
Gross loans |  |  | 7,466,152 |  |  |  | 7,568,319 |
Less: Deferred loan fees, net (1) |  |  | - |  |  |  | (3,742 | )
Gross loans, net of deferred loan fees |  |  | 7,466,152 |  |  |  | 7,564,577 |
Less: Allowance for credit losses |  |  | (82,641 | ) |  |  | (68,660 | )
Total loans and lease finance receivables |  | $ | 7,383,511 |  |  | $ | 7,495,917 |
| (1) | Beginning with March 31, 2020, gross loans are presented net of deferred loan fees by respective class of financing receivables.
Summary of loans by type and origination year, according to our internal risk ratings | The following table summarizes loans by type and origination year, according to our internal risk ratings as of the date presented.
|  | Origination Year |  |  | Revolving loans amortized cost basis |  |  | Revolving loans converted to term loans |  |  |  |
March 31, 2020 |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2016 |  |  | Prior |  | Total |
|  | (Dollars in thousands) |
Commercial and industrial loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 35,101 |  |  | $ | 160,551 |  |  | $ | 79,808 |  |  | $ | 74,291 |  |  | $ | 48,698 |  |  | $ | 85,803 |  |  | $ | 423,186 |  |  | $ | 8,849 |  |  | $ | 916,287 |
Special Mention |  |  | 1,066 |  |  |  | 257 |  |  |  | 7,405 |  |  |  | 1,694 |  |  |  | 539 |  |  |  | 3,524 |  |  |  | 12,598 |  |  |  | 2,442 |  |  |  | 29,525 |
Substandard |  |  | - |  |  |  | 143 |  |  |  | 796 |  |  |  | 855 |  |  |  | 637 |  |  |  | 37 |  |  |  | 11,256 |  |  |  | 1,225 |  |  |  | 14,949 |
Doubtful & Loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Commercial and industrial loans: |  | $ | 36,167 |  |  | $ | 160,951 |  |  | $ | 88,009 |  |  | $ | 76,840 |  |  | $ | 49,874 |  |  | $ | 89,364 |  |  | $ | 447,040 |  |  | $ | 12,516 |  |  | $ | 960,761 |
SBA: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 26,599 |  |  | $ | 18,009 |  |  | $ | 48,416 |  |  | $ | 77,219 |  |  | $ | 27,922 |  |  | $ | 93,865 |  |  | $ | - |  |  | $ | - |  |  | $ | 292,030 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,177 |  |  |  | 1,277 |  |  |  | 7,809 |  |  |  | - |  |  |  | - |  |  |  | 10,263 |
Substandard |  |  | - |  |  |  | - |  |  |  | 1,424 |  |  |  | 3,835 |  |  |  | 1,604 |  |  |  | 3,915 |  |  |  | - |  |  |  | - |  |  |  | 10,778 |
Doubtful & Loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total SBA: |  | $ | 26,599 |  |  | $ | 18,009 |  |  | $ | 49,840 |  |  | $ | 82,231 |  |  | $ | 30,803 |  |  | $ | 105,589 |  |  | $ | - |  |  | $ | - |  |  | $ | 313,071 |
Commercial real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 153,366 |  |  | $ | 726,268 |  |  | $ | 743,909 |  |  | $ | 732,319 |  |  | $ | 626,561 |  |  | $ | 2,021,759 |  |  | $ | 197,335 |  |  | $ | 18,747 |  |  | $ | 5,220,264 |
Special Mention |  |  | - |  |  |  | 5,343 |  |  |  | 9,106 |  |  |  | 16,484 |  |  |  | 7,211 |  |  |  | 52,995 |  |  |  | 3,457 |  |  |  | - |  |  |  | 94,596 |
Substandard |  |  | - |  |  |  | - |  |  |  | 5,155 |  |  |  | 5,813 |  |  |  | 1,315 |  |  |  | 18,819 |  |  |  | 250 |  |  |  | 1,713 |  |  |  | 33,065 |
Doubtful & Loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Commercial real estate loans: |  | $ | 153,366 |  |  | $ | 731,611 |  |  | $ | 758,170 |  |  | $ | 754,616 |  |  | $ | 635,087 |  |  | $ | 2,093,573 |  |  | $ | 201,042 |  |  | $ | 20,460 |  |  | $ | 5,347,925 |
Construction loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 550 |  |  | $ | 13,414 |  |  | $ | 13,300 |  |  | $ | 35,130 |  |  | $ | 10,592 |  |  | $ | 5 |  |  | $ | 49,591 |  |  | $ | 5,463 |  |  | $ | 128,045 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Doubtful & Loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Construction loans: |  | $ | 550 |  |  | $ | 13,414 |  |  | $ | 13,300 |  |  | $ | 35,130 |  |  | $ | 10,592 |  |  | $ | 5 |  |  | $ | 49,591 |  |  | $ | 5,463 |  |  | $ | 128,045 |
SFR mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 10,473 |  |  | $ | 66,680 |  |  | $ | 38,192 |  |  | $ | 26,819 |  |  | $ | 35,992 |  |  | $ | 96,795 |  |  | $ | - |  |  | $ | - |  |  | $ | 274,951 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,942 |  |  |  | - |  |  |  | - |  |  |  | 1,942 |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 379 |  |  |  | - |  |  |  | 1,025 |  |  |  | - |  |  |  | 446 |  |  |  | 1,850 |
Doubtful & Loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total SFR mortgage loans: |  | $ | 10,473 |  |  | $ | 66,680 |  |  | $ | 38,192 |  |  | $ | 27,198 |  |  | $ | 35,992 |  |  | $ | 99,762 |  |  | $ | - |  |  | $ | 446 |  |  | $ | 278,743 |
|  | Origination Year |  |  | Revolving loans amortized cost basis |  |  | Revolving loans converted to term loans |  |  |  |
March 31, 2020 |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2016 |  |  | Prior |  | Total |
|  | (Dollars in thousands) |
Dairy & livestock and agribusiness loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 78 |  |  | $ | 2,945 |  |  | $ | 1,940 |  |  | $ | 8,109 |  |  | $ | 2,831 |  |  | $ | 14,655 |  |  | $ | 192,649 |  |  | $ | - |  |  | $ | 223,207 |
Special Mention |  |  | - |  |  |  | - |  |  |  | 166 |  |  |  | 722 |  |  |  | - |  |  |  | - |  |  |  | 22,150 |  |  |  | 3,686 |  |  |  | 26,724 |
Substandard |  |  | - |  |  |  | - |  |  |  | 882 |  |  |  | - |  |  |  | 4,016 |  |  |  | - |  |  |  | 4,625 |  |  |  | 12,660 |  |  |  | 22,183 |
Doubtful & Loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Dairy & livestock and agribusiness loans: |  | $ | 78 |  |  | $ | 2,945 |  |  | $ | 2,988 |  |  | $ | 8,831 |  |  | $ | 6,847 |  |  | $ | 14,655 |  |  | $ | 219,424 |  |  | $ | 16,346 |  |  | $ | 272,114 |
Municipal lease finance receivables loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 147 |  |  | $ | - |  |  | $ | 3,081 |  |  | $ | 10,961 |  |  | $ | 7,912 |  |  | $ | 28,739 |  |  | $ | - |  |  | $ | - |  |  | $ | 50,840 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 447 |  |  |  | - |  |  |  | - |  |  |  | 447 |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Doubtful & Loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Municipal lease finance receivables loans: |  | $ | 147 |  |  | $ | - |  |  | $ | 3,081 |  |  | $ | 10,961 |  |  | $ | 7,912 |  |  | $ | 29,186 |  |  | $ | - |  |  | $ | - |  |  | $ | 51,287 |
Consumer and other loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,647 |  |  | $ | 3,197 |  |  | $ | 1,160 |  |  | $ | 1,372 |  |  | $ | 2,094 |  |  | $ | 2,612 |  |  | $ | 98,953 |  |  | $ | 1,582 |  |  | $ | 112,617 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 80 |  |  |  | 148 |  |  |  | 609 |  |  |  | - |  |  |  | 837 |
Substandard |  |  | - |  |  |  | - |  |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | 179 |  |  |  | 148 |  |  |  | 420 |  |  |  | 752 |
Doubtful & Loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Consumer and other loans: |  | $ | 1,647 |  |  | $ | 3,197 |  |  | $ | 1,165 |  |  | $ | 1,372 |  |  | $ | 2,174 |  |  | $ | 2,939 |  |  | $ | 99,710 |  |  | $ | 2,002 |  |  | $ | 114,206 |
Gross loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 227,961 |  |  | $ | 991,064 |  |  | $ | 929,806 |  |  | $ | 966,220 |  |  | $ | 762,602 |  |  | $ | 2,344,233 |  |  | $ | 961,714 |  |  | $ | 34,641 |  |  | $ | 7,218,241 |
Special Mention |  |  | 1,066 |  |  |  | 5,600 |  |  |  | 16,677 |  |  |  | 20,077 |  |  |  | 9,107 |  |  |  | 66,865 |  |  |  | 38,814 |  |  |  | 6,128 |  |  |  | 164,334 |
Substandard |  |  | - |  |  |  | 143 |  |  |  | 8,262 |  |  |  | 10,882 |  |  |  | 7,572 |  |  |  | 23,975 |  |  |  | 16,279 |  |  |  | 16,464 |  |  |  | 83,577 |
Doubtful & Loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Gross loans: |  | $ | 229,027 |  |  | $ | 996,807 |  |  | $ | 954,745 |  |  | $ | 997,179 |  |  | $ | 779,281 |  |  | $ | 2,435,073 |  |  | $ | 1,016,807 |  |  | $ | 57,233 |  |  | $ | 7,466,152 |
Summary of Loan, Excluding PCI Loans by Internal Risk Ratings | The following table summarizes lo an s by type, according to our internal risk ratings as of the date presented.
|  | December 31, 2019
|  | Pass |  | Special Mention |  | Substandard |  | Doubtful & Loss |  | Total |
|  | (Dollars in thousands)
Commercial and industrial |  | $ | 895,234 |  |  | $ | 35,473 |  |  | $ | 4,420 |  |  | $ | - |  |  | $ | 935,127 |
SBA |  |  | 283,430 |  |  |  | 11,032 |  |  |  | 10,546 |  |  |  | - |  |  |  | 305,008 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  | 1,977,007 |  |  |  | 78,208 |  |  |  | 28,435 |  |  |  | - |  |  |  | 2,083,650 |
Non-owner occupied |  |  | 3,280,580 |  |  |  | 10,005 |  |  |  | 382 |  |  |  | - |  |  |  | 3,290,967 |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Speculative |  |  | 106,895 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 106,895 |
Non-speculative |  |  | 10,030 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 10,030 |
SFR mortgage |  |  | 280,010 |  |  |  | 1,957 |  |  |  | 1,501 |  |  |  | - |  |  |  | 283,468 |
Dairy & livestock and agribusiness |  |  | 320,670 |  |  |  | 35,920 |  |  |  | 27,119 |  |  |  | - |  |  |  | 383,709 |
Municipal lease finance receivables |  |  | 52,676 |  |  |  | 470 |  |  |  | - |  |  |  | - |  |  |  | 53,146 |
Consumer and other loans |  |  | 114,870 |  |  |  | 421 |  |  |  | 1,028 |  |  |  | - |  |  |  | 116,319 |
Total gross loans |  | $ | 7,321,402 |  |  | $ | 173,486 |  |  | $ | 73,431 |  |  | $ | - |  |  | $ | 7,568,319 |
Schedule of Balance and Activity Related to Allowance for Loan Losses for Held-for-Investment Loans by Type | The following tables present the balance and activity related to the allowance for credit losses for held-for-investment loans by type for the periods presented.
|  | Three Months Ended March 31, 2020
|  | Ending Balance, prior to adoption of ASU 2016-13 December 31, 2019 |  | Impact of adopting ASU 2016-13 |  | Provision for (Recapture of) Credit Losses Expense |  | Charge-offs |  | Recoveries |  | Ending Balance March 31, 2020 |
|  | (Dollars i in thousands) |
Commercial and industrial |  | $ | 8,880 |  |  | $ | (2,442 | ) |  | $ | 2,947 |  |  | $ | - |  |  | $ | 2 |  |  | $ | 9,387 |
SBA |  |  | 1,453 |  |  |  | 1,818 |  |  |  | 675 |  |  |  | - |  |  |  | - |  |  |  | 3,946 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  | 48,629 |  |  |  | 3,547 |  |  |  | 6,251 |  |  |  | - |  |  |  | - |  |  |  | 58,427 |
Construction |  |  | 858 |  |  |  | 655 |  |  |  | 3,116 |  |  |  | - |  |  |  | 3 |  |  |  | 4,632 |
SFR mortgage |  |  | 2,339 |  |  |  | (2,043 | ) |  |  | (221 | ) |  |  | - |  |  |  | 206 |  |  |  | 281 |
Dairy & livestock and agribusiness |  |  | 5,255 |  |  |  | (186 | ) |  |  | (803 | ) |  |  | - |  |  |  | - |  |  |  | 4,266 |
Municipal lease finance receivables |  |  | 623 |  |  |  | (416 | ) |  |  | 70 |  |  |  | - |  |  |  | - |  |  |  | 277 |
Consumer and other loans |  |  | 623 |  |  |  | 907 |  |  |  | (35 | ) |  |  | (86 | ) |  |  | 16 |  |  |  | 1,425 |
Total allowance for credit losses |  | $ | 68,660 |  |  | $ | 1,840 |  |  | $ | 12,000 |  |  | $ | (86 | ) |  | $ | 227 |  |  | $ | 82,641 |
|  | Three Months Ended March 31, 2019 |
|  | Ending Balance December 31, 2018 |  |  | Charge-offs |  |  | Recoveries |  |  | Provision for (Recapture of) Loan Losses |  |  | Ending Balance March 31, 2019 |
|  | (Dollars in thousands) |
Commercial and industrial |  | $ | 7,520 |  |  | $ | - |  |  | $ | 110 |  |  | $ | (31 | ) |  | $ | 7,599 |
SBA |  |  | 1,062 |  |  |  | (20 | ) |  |  | 5 |  |  |  | 232 |  |  |  | 1,279 |
Real estate: |  |  |  |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Commercial real estate |  |  | 44,934 |  |  |  | - |  |  |  | - |  |  |  | 1,144 |  |  |  | 46,078 |
Construction |  |  | 981 |  |  |  | - |  |  |  | 3 |  |  |  | (120 | ) |  |  | 864 |
SFR mortgage |  |  | 2,196 |  |  |  | - |  |  |  | 68 |  |  |  | (76 | ) |  |  | 2,188 |
Dairy & livestock and agribusiness |  |  | 5,215 |  |  |  | (78 | ) |  |  | - |  |  |  | 562 |  |  |  | 5,699 |
Municipal lease finance receivabl es |  |  | 775 |  |  |  | - |  |  |  | - |  |  |  | (37 | ) |  |  | 738 |
Consumer and other loans |  |  | 726 |  |  |  | (1 | ) |  |  | 1 |  |  |  | (150 | ) |  |  | 576 |
PCI loans |  |  | 204 |  |  |  | - |  |  |  | - |  |  |  | (24 | ) |  |  | 180 |
Total allowance for loan losses |  | $ | 63,613 |  |  | $ | (99 | ) |  | $ | 187 |  |  | $ | 1,500 |  |  | $ | 65,201 |
Schedule of Recorded Investment in Loans Held-for-Investment and Related Allowance for Loan Losses by Loan Type |
|  | March 31, 2019
|  | Recorded Investment in Loans |  | Allowance for Loan Losses
|  | Individually Evaluated for Impairment |  | Collectively Evaluated for Impairment |  | Acquired with Deterioriated Credit Quality |  | Individually Evaluated for Impairment |  | Collectively Evaluated for Impairment |  | Acquired with Deterioriated Credit Quality |
|  | (Dollars in thousands)
Commercial and industrial |  | $ | 8,512 |  |  | $ | 948,614 |  |  | $ | - |  |  | $ | 117 |  |  | $ | 7,482 |  |  | $ | - |
SBA |  |  | 4,661 |  |  |  | 333,296 |  |  |  | - |  |  |  | 317 |  |  |  | 962 |  |  |  | - |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  | 1,589 |  |  |  | 5,387,277 |  |  |  | - |  |  |  | - |  |  |  | 46,078 |  |  |  | - |
Construction |  |  | - |  |  |  | 121,912 |  |  |  | - |  |  |  | - |  |  |  | 864 |  |  |  | - |
SFR mortgage |  |  | 5,051 |  |  |  | 280,736 |  |  |  | - |  |  |  | - |  |  |  | 2,188 |  |  |  | - |
Dairy & livestock and agribusiness |  |  | - |  |  |  | 322,321 |  |  |  | - |  |  |  | - |  |  |  | 5,699 |  |  |  | - |
Municipal lease finance receivables |  |  | - |  |  |  | 61,249 |  |  |  | - |  |  |  | - |  |  |  | 738 |  |  |  | - |
Consumer and other loans |  |  | 477 |  |  |  | 120,291 |  |  |  | - |  |  |  | 1 |  |  |  | 575 |  |  |  | - |
PCI loans |  |  | - |  |  |  | - |  |  |  | 15,356 |  |  |  | - |  |  |  | - |  |  |  | 180 |
Total |  | $ | 20,290 |  |  | $ | 7,575,696 |  |  | $ | 15,356 |  |  | $ | 435 |  |  | $ | 64,586 |  |  | $ | 180 |
Schedule of Recorded Investment in, and Aging of, Past Due and Nonaccrual Loans, Excluding PCI Loans by Class of Loans | We seek to manage asset quality and control credit risk through diversification of the loan portfolio and the application of policies designed to promote sound underwriting and loan monitoring practices. The Bank’s Credit Management Division is in charge of monitoring asset quality, establishing credit policies and procedures and enforcing the consistent application of these policies and procedures across the Bank. Reviews of nonperforming, past due loans and larger credits, designed to identify potential charges to the allowance for loan losses, and to determine the adequacy of the ACL, are conducted on an ongoing basis. These reviews consider such factors as the financial strength of borrowers and any guarantors, the value of the applicable collateral, loan loss experience, estimated loan losses, growth in the loan portfolio, prevailing economic conditions and other factors. Refer to Note 3 – Summary of Significant Accounting Policies, included in our Annual Report on Form 10- K for the year ended December 31, 2019, for additional discussion concerning the Bank’s policy for past due and nonperforming loans. The following table presents the recorded investment in, and the ag in g of, past due loans (including nonaccrual loans), by type of loans as of the date pres ent ed.
|  | March 31, 2020
|  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater than 89 Days Past Due |  | Total Past Due |  | Loans Not Past Due |  | Total Loans and Financing Receivables |
|  | (Dollars in thousands)
Commercial and industrial |  | $ | 347 |  |  | $ | 362 |  |  | $ | 1,487 |  |  | $ | 2,196 |  |  | $ | 958,565 |  |  | $ | 960,761 |
SBA |  |  | 3,086 |  |  |  | 954 |  |  |  | 1,669 |  |  |  | 5,709 |  |  |  | 307,362 |  |  |  | 313,071 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  | 154 |  |  |  | 310 |  |  |  | 250 |  |  |  | 714 |  |  |  | 2,069,646 |  |  |  | 2,070,360 |
Non-owner occupied |  |  | 210 |  |  |  | - |  |  |  | - |  |  |  | 210 |  |  |  | 3,277,355 |  |  |  | 3,277,565 |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Speculative (1) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 116,143 |  |  |  | 116,143 |
Non-speculative |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 11,902 |  |  |  | 11,902 |
SFR mortgage |  |  | 233 |  |  |  | - |  |  |  | 486 |  |  |  | 719 |  |  |  | 278,024 |  |  |  | 278,743 |
Dairy & livestock and agribusiness |  |  | 166 |  |  |  | - |  |  |  | - |  |  |  | 166 |  |  |  | 271,948 |  |  |  | 272,114 |
Municipal lease finance receivables |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 51,287 |  |  |  | 51,287 |
Consumer and other loans |  |  | - |  |  |  | - |  |  |  | 93 |  |  |  | 93 |  |  |  | 114,113 |  |  |  | 114,206 |
Total gross loans |  | $ | 4,196 |  |  | $ | 1,626 |  |  | $ | 3,985 |  |  | $ | 9,807 |  |  | $ | 7,456,345 |  |  | $ | 7,466,152 |
| (1) | Speculative construction loans are generally for properties where there is no identified buyer or renter.
Following the adoption of CECL on January 1, 2020, the definitions of impairment and related impaired loan disclosures were removed. Under CECL, amortized cost of our finance receivables and loans that are on nonaccrual status, including loans with no allowance, are presented as of March 31, 2020 by type of loan.
|  | March 31, 2020 |
|  | Nonaccrual with No Allowance for Credit Losses |  |  | Total Nonaccrual (1) (3) |  |  | Loans Past Due Over 89 Days Still Accruing |
|  | (Dollars in thousands) |
Commercial and industrial |  | $ | 549 |  |  | $ | 1,703 |  |  | $ | - |
SBA |  |  | 2,110 |  |  |  | 2,748 |  |  |  | - |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  | 715 |  |  |  | 715 |  |  |  | - |
Non-owner occupied |  |  | 232 |  |  |  | 232 |  |  |  | - |
Construction |  |  |  |  |  |  |  |  |  |  |  |
Speculative (2) |  |  | - |  |  |  | - |  |  |  | - |
Non-speculative |  |  | - |  |  |  | - |  |  |  | - |
SFR mortgage |  |  | 864 |  |  |  | 864 |  |  |  | - |
Dairy & livestock and agribusiness |  |  | - |  |  |  | - |  |  |  | - |
Municipal lease finance receivables |  |  | - |  |  |  | - |  |  |  | - |
Consumer and other loans |  |  | 166 |  |  |  | 166 |  |  |  | - |
Total gross loans |  | $ | 4,636 |  |  | $ | 6,428 |  |  | $ | - |
| (1) | As of March 31, 2020, $982,000 of nonaccruing loans were current, $154,000 were 30-59 days past due, $1.3 million were 60-89 days past due, and $4.0 million were 90+ days past due.
| (2) | Speculative construction loans are generally for properties where there is no identified buyer or renter.
| ( 3 ) | Excludes $1.7 million of guaranteed portion of nonaccrual SBA loans that are in process of collection.
The following table presents the recorded investment in, and the aging of, past due and nonaccrual loans, by type of loans as of the date presented.
|  | December 31, 2019 |
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | Total Past Due and Accruing |  |  | Nonaccrual (1) (3) |  |  | Current |  |  | Total Loans and Financing Receivables |
|  |  |  |  |  |  |  | (Dollars in thousands) |  |  |  |  |  |  |
Commercial and industrial |  | $ | 2 |  |  | $ | - |  |  | $ | 2 |  |  | $ | 1,266 |  |  | $ | 933,859 |  |  | $ | 935,127 |
SBA |  |  | 870 |  |  |  | 532 |  |  |  | 1,402 |  |  |  | 2,032 |  |  |  | 301,574 |  |  |  | 305,008 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 479 |  |  |  | 2,083,171 |  |  |  | 2,083,650 |
Non-owner occupied |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 245 |  |  |  | 3,290,722 |  |  |  | 3,290,967 |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Speculative (2) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 106,895 |  |  |  | 106,895 |
Non-speculative |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 10,030 |  |  |  | 10,030 |
SFR mortgage |  |  | 6 |  |  |  | 243 |  |  |  | 249 |  |  |  | 878 |  |  |  | 282,341 |  |  |  | 283,468 |
Dairy & livestock and agribusiness |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 383,709 |  |  |  | 383,709 |
Municipal lease finance receivables |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 53,146 |  |  |  | 53,146 |
Consumer and other loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 377 |  |  |  | 115,942 |  |  |  | 116,319 |
Total gross loans |  | $ | 878 |  |  | $ | 775 |  |  | $ | 1,653 |  |  | $ | 5,277 |  |  | $ | 7,561,389 |  |  | $ | 7,568,319 |
| (1) | As of December 31, 2019, $1.2 million of nonaccruing loans were current, $59,000 were 30-59 days past due, $1.1 million were 60-89 days past due and $2.9 million were 90+ days past due.
| (2) | Speculative construction loans are generally for properties where there is no identifi ed buyer or renter.
| ( 3 ) | Excludes $2.0 million of guaranteed porti on of nonaccrual SBA loans that are in process of collection.
Schedule of Held-for-Investment Loans, Individually Evaluated for Impairment by Class of Loans |
|  | Three Months Ended March 31, 2019
|  | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized |
|  | (Dollars in thousands)
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 8,208 |  |  | $ | 12,317 |  |  | $ | - |  |  | $ | 8,230 |  |  | $ | 2 |
SBA |  |  | 3,400 |  |  |  | 5,779 |  |  |  | - |  |  |  | 3,511 |  |  |  | 11 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  | 519 |  |  |  | 618 |  |  |  | - |  |  |  | 521 |  |  |  | - |
Non-owner occupied |  |  | 1,070 |  |  |  | 1,231 |  |  |  | - |  |  |  | 1,084 |  |  |  | 7 |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Speculative |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Non-speculative |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
SFR mortgage |  |  | 5,051 |  |  |  | 5,865 |  |  |  | - |  |  |  | 5,082 |  |  |  | 21 |
Dairy & livestock and agribusiness |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Municipal lease finance receivables |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Consumer and other loans |  |  | 476 |  |  |  | 625 |  |  |  | - |  |  |  | 482 |  |  |  | - |
Total |  |  | 18,724 |  |  |  | 26,435 |  |  |  | - |  |  |  | 18,910 |  |  |  | 41 |
With a related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | 304 |  |  |  | 309 |  |  |  | 117 |  |  |  | 323 |  |  |  | - |
SBA |  |  | 1,261 |  |  |  | 1,236 |  |  |  | 317 |  |  |  | 1,261 |  |  |  | - |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Non-owner occupied |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Speculative |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Non-speculative |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
SFR mortgage |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Dairy & livestock and agribusiness |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Municipal lease finance receivables |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Consumer and other loans |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | - |
Total |  |  | 1,566 |  |  |  | 1,546 |  |  |  | 435 |  |  |  | 1,585 |  |  |  | - |
Total impaired loans |  | $ | 20,290 |  |  | $ | 27,981 |  |  | $ | 435 |  |  | $ | 20,495 |  |  | $ | 41 |
|  | December 31, 2019
|  | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance
|  | (Dollars in thousands)
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 1,091 |  |  | $ | 1,261 |  |  | $ | - |
SBA |  |  | 2,243 |  |  |  | 2,734 |  |  |  | - |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  | 479 |  |  |  | 613 |  |  |  | - |
Non-owner occupied |  |  | 642 |  |  |  | 643 |  |  |  | - |
Construction |  |  |  |  |  |  |  |  |  |  |  |
Speculative |  |  | - |  |  |  | - |  |  |  | - |
Non-speculative |  |  | - |  |  |  | - |  |  |  | - |
SFR mortgage |  |  | 2,979 |  |  |  | 3,310 |  |  |  | - |
Dairy & livestock and agribusiness |  |  | - |  |  |  | - |  |  |  | - |
Municipal lease finance receivables |  |  | - |  |  |  | - |  |  |  | - |
Consumer and other loans |  |  | 377 |  |  |  | 514 |  |  |  | - |
Total |  |  | 7,811 |  |  |  | 9,075 |  |  |  | - |
With a related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | 253 |  |  |  | 347 |  |  |  | 251 |
SBA |  |  | 325 |  |  |  | 324 |  |  |  | 257 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  | - |  |  |  | - |  |  |  | - |
Non-owner occup ied |  |  | - |  |  |  | - |  |  |  | - |
Construction |  |  |  |  |  |  |  |  |  |  |  |
Speculative |  |  | - |  |  |  | - |  |  |  | - |
Non-speculative |  |  | - |  |  |  | - |  |  |  | - |
SFR mortgage |  |  | - |  |  |  | - |  |  |  | - |
Dairy & livestock and agribusiness |  |  | - |  |  |  | - |  |  |  | - |
Municipal lease finance receivables |  |  | - |  |  |  | - |  |  |  | - |
Consumer and other loans |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  | 578 |  |  |  | 671 |  |  |  | 508 |
Total impaired loans |  | $ | 8,389 |  |  | $ | 9,746 |  |  | $ | 508 |
Summary of pledged assets not separately reported on statement of financial position | A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The following table presents the recorded investment in collateral-dependent loans by type of loans as of the date presented.
|  | March 31, 2020 |  |  | Number of Loans Dependent on Collateral |
|  | Real Estate |  |  | Business Assets |  | Other |
|  | (Dollars in thousands) |  |  |  |
Commercial and industrial |  | $ | 112 |  |  | $ | 1,652 |  |  | $ | 8 |  |  |  | 12 |
SBA |  |  | 1,852 |  |  |  | 2,524 |  |  |  | 8 |  |  |  | 19 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  | 1,324 |  |  |  | - |  |  |  | - |  |  |  | 5 |
Construction |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
SFR mortgage |  |  | 864 |  |  |  | - |  |  |  | - |  |  |  | 3 |
Dairy & livestock and agribusiness |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Municipal lease finance receivables |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Consumer and other loans |  |  | 84 |  |  |  | - |  |  |  | 22 |  |  |  | 4 |
Total collateral-dependent loans |  | $ | 4,236 |  |  | $ | 4,176 |  |  | $ | 38 |  |  |  | 43 |
Summary of Activity Related to Troubled Debt Restructurings | The following table provides a summary of the activity related to TDRs for the periods presented.
|  | Three Months Ended March 31,
|  | 2020 |  | 2019 |
|  | (Dollars in thousands)
Performing TDRs: |  |  |  |  |  |  |  |
Beginning balance |  | $ | 3,112 |  |  | $ | 3,594 |
New modifications |  |  | - |  |  |  | - |
Payoffs/payments, net and other |  |  | (299 | ) |  |  | (295 | )
TDRs returned to accrual status |  |  | - |  |  |  | - |
TDRs placed on nonaccrual status |  |  | - |  |  |  | - |
Ending balance |  | $ | 2,813 |  |  | $ | 3,299 |
Nonperforming TDRs: |  |  |  |  |  |  |  |
Beginning balance |  | $ | 244 |  |  | $ | 3,509 |
New modifications |  |  | - |  |  |  | - |
Charge-offs |  |  | - |  |  |  | (78 | )
Transfer to OREO |  |  | - |  |  |  | (2,275 | )
Payoffs/payments, net and other |  |  | (244 | ) |  |  | (879 | )
TDRs returned to accrual status |  |  | - |  |  |  | - |
TDRs placed on nonaccrual status |  |  | - |  |  |  | - |
Ending balance |  | $ | - |  |  | $ | 277 |
Total TDRs |  | $ | 2,813 |  |  | $ | 3,576 |

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- Definition Schedule of recorded investment in held-for-investment and held-for-sale, non-accrual loans and past due by class of loans. + References No definition available. + Details
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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953659-111524 + Details
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- References No definition available. + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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